Company: UP
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015477
Chunk: 199

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 199
---
 anniversary of the Vesting Commencement Date. For purposes of the service-vested percentage, no absence of Grantee from work because of: (i) Grantee’s exercise of his leave rights under any federal, state or local statute; (ii) Grantee’s leave of absence, as approved in writing by the Committee, for a temporary disability, which may include any physical or mental condition other than a “Disability” as defined in the Plan; or (iii) Grantee’s leave of absence for any purpose approved in writing by the Committee, will be considered to have interrupted Grantee’s continued service to the Company. Notwithstanding anything to the contrary set forth in this Agreement, the Service Vested Percentage will be 100% upon the consummation of a Change of Control. |

| (g) | “Term Loan Amount” means $390 million plus any additional amounts drawn on the Term Loan following the date hereof. |

[ REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

| Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of StockholdersC-5 |

TABLE OF CONTENTS

IN WITNESS WHEREOF, the parties have duly executed and delivered this Agreementas of the date last written below or the date electronically accepted through the applicable portal, as applicable.

| WHEELS UP EXPERIENCE INC. |     |                         |
| By:                       |     | /s/ George Mattson      |
| Name:                     |     | George Mattson          |
| Title:                    |     | Chief Executive Officer |

| GRANTEE          |     |              |
| /s/ John Verkamp |     |              |
| Name:            |     | John Verkamp |

| C-6Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of Stockholders |

TABLE OF CONTENTS

EXHIBIT A Vesting and Settlement of Performance Award Each capitalized term used and not otherwise defined in this Exhibit A will have the meaning set forth in the Performance Award Agreement (the “ Agreement”) to which this Exhibit A is attached. This Performance Award provides the Grantee with the opportunity to share in the growth of the value of the Company based on the Total Investor Profits recognized or deemed to be recognized by the Investors and his providing services to the Company.

| 1. | Repayment Event. No Shares will be provided or granted with respect to the Performance Award unless and until a Repayment Event has occurred. For the avoidance