Company: UP
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015477
Chunk: 103

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 103
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 repayment. See the heading “ Delta Promissory Note” under Note 8, Long-Term Debt in the Notes to Consolidated Financial Statements included in Part II, Item 8 “Financial Statements and Supplementary Data” in our 2024 Form 10-K for more information about the Delta Promissory Note. Commercial Arrangements with Delta As previously disclosed by the Company, in connection with the closing of the acquisition of Delta Private Jets LLC (“DPJ,” which after acquisition by WUP became Wheels Up Private Jets LLC or “WUPJ”), from Delta in January 2020, WUP entered into a series of agreements constituting WUP’s strategic partnership relationship with Delta. The Company’s strategic partnership relationship with Delta is set forth in the following agreements: (i) the Amended and Restated Commercial Cooperation Agreement, dated June 15, 2024 (the “CCA”); (ii) the Program Participation Agreement (as amended, the “PPA”); (iii) the Corporate Agreement (as amended, the “Corporate Agreement”); and (iv) the Corporate Customer Discount Program (the “Corporate Program”). See the heading “ Business—Competition & Strategic Outlook—Our Offerings and Services” in Part I, Item 1 “Business” of our 2024 Form 10-K for a description of the benefits provided to our members and customers through such relationship.

| 56Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of Stockholders |

TABLE OF CONTENTS CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS (continued) Amended and Restated Commercial Cooperation Agreement On June 15, 2024, WUP and WUP LLC entered into the CCA with Delta. The CCA, which was approved by the disinterested members of the Board and Audit Committee, replaced the original Commercial Cooperation Agreement, dated as of January 17, 2020 (as amended prior to June 15, 2024, the “Original CCA”), by and among WUP, WUP LLC and Delta, which was originally entered into in connection with the closing of Wheels Up’s acquisition of DPJ in January 2020. The CCA marks a continued commitment by Wheels Up and Delta to further their long-term commercial endeavors and provides for, among other things: (i) the terms on which certain of the Company’s members can continue to purchase discounted premium commercial air travel with Delta, including by the use of eligible prepaid blocks; (ii) an amendment