Company: UP
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015477
Chunk: 176

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 176
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 OF AMENDMENT NO. 2 TO WHEELS UP EXPERIENCE INC. 2021 LONG-TERM INCENTIVE PLAN, AS AMENDED AND RESTATED APRIL 1, 2023 This Amendment No. 2 (this “ Amendment”) to the Wheels Up Experience Inc. 2021 Long-Term Incentive Plan, as amended and restated April 1, 2023 (as amended by Amendment No. 1 thereto, effective as of June 6, 2024, the “ Plan”), is adopted by the Board of Directors of Wheels Up Experience Inc. (the “ Company”) on March 26, 2025, to be effective upon approval (the “ Amendment Effective Time”) of this Amendment by the Company’s stockholders at a duly called and noticed meeting of the Company’s stockholders or by written consent of the Company’s stockholders, in each case in accordance with the Company’s Amended and Restated Certificate of Incorporation, dated November 15, 2023, Amended and Restated By-Laws, effective as of November 15, 2023, and the General Corporation Law of the State of Delaware. Capitalized terms used herein but not otherwise defined herein shall have the meaning given to such terms in the Plan. Effective as of the Amendment Effective Time, the Plan shall be amended as follows:

| 1. | Paragraph A of Article III of the Plan is hereby deleted in its entirety and replaced with the following: |

| A. | The aggregate number of Shares as to which Awards may be granted from time to time shall be 60,149,682 Shares (subject to adjustment for stock splits, stock dividends, and other adjustments described in Article XIX hereof). The aggregate number of Shares as to which Incentive Options may be granted from time to time shall not exceed 60,149,682 (subject to adjustment for stock splits, stock dividends and other adjustments described in Article XIX hereof). The Share amounts listed in this Paragraph A reflect all adjustments made as a result of the 1-for-10 reverse stock split of the Shares and proportionate reduction in the number of authorized shares of Shares completed on June 7, 2023. |

| 2. | Article XXI of the Plan is hereby deleted in its entirety and replaced with the following: |

| XXI. | TERMINATION OF THE PLAN |

The Plan shall terminate ten (10) years from March 26, 2025. The Plan may