Company: UP
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015477
Chunk: 143

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 143
---
 will be entitled to receive severance as set forth in the Company’s Executive Severance Plan, with at least 52 weeks of salary replacement and 12 months of 100% company paid COBRA subsidy. See “ —Potential Payments Upon Termination or Change of Control—Potential Payments Under Executive Severance Guidelines” below for more information. In addition, Mr. Harvey has also entered an Employee Confidentiality Agreement and Restrictive Covenants with Wheels Up that contains, among other things, non-competition and non-solicitation provisions that apply during the term of Mr. Harvey’s employment and for 12 months thereafter. Mark Briffa ( EVP, Charter & CEO of Air Partner ) Service Agreement Pursuant to his offer letter, dated July 19, 2022, with the Company, and the related director’s service agreement, dated July 19, 2022, which was subsequently amended by Amendment No. 1 thereto, dated as of March 1, 2023, and Amendment No. 2 thereto, dated as of June 6, 2024, in each case with Air Partner (collectively, the “Briffa Service Agreement”), Mr. Briffa is entitled to receive an annual base salary of £450,000, which is subject to annual review and approval by the Compensation Committee. He is also entitled to earn an annual incentive bonus (i) up to and through January 31, 2023, with a target amount equal to 150% of his then-applicable annual base salary, and (ii) beginning on February 1, 2023, with a target amount equal to 100% of his then-applicable annual base salary, in each case on such terms and subject to such conditions as may be decided from time to time by the Board. The Compensation Committee has authorized us to allocate to Mr. Briffa flight time on Wheels Up’s aircraft in accordance with the flight hours plan established by Wheels Up, as may be amended from time to time. Additionally, the Briffa Service Agreement provided for the grant of a one-time equity award of 56,064 RSUs (taking into account the impact of the 1-for-10 reverse stock split of our shares of Common Stock completed on June 7, 2023), which were granted on September 9, 2022. Mr. Briffa is also eligible for an annual equity award, subject to approval by the Compensation Committee. Although Wheels Up does not maintain any