Company: UP
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015477
Chunk: 188

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 188
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 no later than the 30th day following the Determination Date. |

For the avoidance of doubt, the calculation set forth in this Section 2 will be undertaken on each Determination Date following a Repayment Event, without any condition of continuing employment or service by Grantee other than upon a termination with Cause.

| 3. | Definitions. Solely for the purposes of this Exhibit A, the following terms will have the following respective meanings: |

| (a) | “Dilutive Shares Value” means as of any Determination Date (i) the Stock Price multiplied by (ii) the product of (x) the sum of (A) the number of Shares to be granted to the Grantee pursuant to the first sentence of Section 2(c) above in connection with such Determination Date (which, for the avoidance of doubt, shall be prior to any reduction in such number of Shares to cover federal, state, local and foreign income taxes, withholding taxes or employment taxes) and (B) the number of Previously Granted Shares multiplied by (y) a fraction, the numerator of which is the number of New Investor Shares and the denominator of which is the fully diluted outstanding Shares of the Company as of the applicable Determination Date. |

| (b) | “Grantee Profit Amount” means the Grantee Profit Percentage multiplied by the Total Investor Profits. |

| (c) | “Grantee Profit Percentage” means the percentage of the Total Investor Profit that the Grantee is entitled to receive determined on each applicable Determination Date based on the Investor MOIC as set forth below. The Grantee Profit Percentage will be: |

| (i) | 1.00% if the Investor MOIC is greater than 1.00x and less than or equal to 2.00x; |

| (ii) | 1.50% if the Investor MOIC is greater than 2.00x and less than or equal to 3.00x; or |

| (iii) | 2.00% if the Investor MOIC is greater than 3.00x. |

| Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of StockholdersB-7 |

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For the avoidance of doubt, the Grantee Profit Percentage will be 0% if the Investor MOIC on any Determination Date is 1.00x or less.

| (d) | “Investor MOIC” means, as of any Determination Date