Company: UP
Filing Date: 2025-06-11
Form Type: S-8
Source: 0001104659-25-058570
Chunk: 3

Company: Wheels Up Experience Inc.
Filing Date: 2025-06-11
Form: S-8
Chunk 3
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 directors and officers as well as other
employees and individuals against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually
and reasonably incurred by such person in connection with any threatened, pending or completed actions, suits or proceedings in which
such person is made a party by reason of such person being or having been a director, officer, employee or agent of the Company. The DGCL
provides that Section 145 is not exclusive of other rights to which those seeking indemnification may be entitled under any bylaws,
agreement, vote of stockholders or disinterested directors or otherwise. The Company’s certificate of incorporation and bylaws provide
for indemnification by the Company of its directors and officers to the fullest extent permitted by the DGCL.

Section 102(b)(7) of
the DGCL permits a corporation to provide in its certificate of incorporation that a director or officer of the corporation shall not
be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director or officer,
except for liability (1) for any breach of the director’s or officer’s duty of loyalty to the corporation or its stockholders,
(2) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (3) pursuant
to Section 174 of the DGCL (providing for liability of directors for unlawful payments of dividends or unlawful stock repurchases,
redemptions or other distributions), (4) for any transaction from which the director or officer derived an improper personal benefit
or (5) for any action by or in the right of the corporation with respect to an officer. The Company’s Amended and Restated
Certificate of Incorporation, filed with the Secretary of State of the State of Delaware on November 15, 2023, provides for
such limitation of liability with respect to directors to the fullest extent permitted by the DGCL.

The Company entered, and expects
to continue to enter into, indemnification agreements with its directors and executive officers. Each indemnification agreement provides
for indemnification and advancement by the Company of certain expenses and costs, if the basis of the indemnitee’s involvement was
by reason of the fact that the indemnitee is or was a director, officer, employee or agent of the Company or any of its subsidiaries or
was serving at the Company’s request in an official capacity for another entity, to the fullest extent permitted by the laws of
the state of