Company: UP
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015477
Chunk: 142

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 142
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 assets to any other entity or person. If Mr. Mattson’s employment with Wheels Up is terminated due to death or Disability (as defined herein), Wheels Up will pay to him or his legal representative, as applicable, the Accrued Obligations and any accrued and unpaid annual incentive bonus for the fiscal year prior to the termination date that has not yet been paid. Under Mr. Mattson’s employment agreement, the term “Disability” means any

| 74Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of Stockholders |

TABLE OF CONTENTS EXECUTIVE COMPENSATION (continued) medically determinable physical or mental impairment resulting in Mr. Mattson’s inability to engage in any substantial gainful activity, where such impairment can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, as determined by a physician appointed jointly by the Board and Mr. Mattson. In addition, Mr. Mattson is subject to certain restrictive covenants under the Mattson Employment Agreement including among other things, non-competition and non-solicitation provisions that apply during the term of Mr. Mattson’s employment and for 24 months thereafter. David Harvey ( Chief Commercial Officer ) Pursuant to his offer letter, dated May 3, 2024 (the “Harvey Offer Letter”), Mr. Harvey is entitled to receive an annual base salary and eligible to earn an annual incentive bonus, with a target amount equal to 125% of his base salary for 2024 and later, subject to the satisfaction of certain performance metrics established by the Company’s leadership team and approved by the Compensation Committee. Mr. Harvey is also eligible to participate in the employee benefit plans available to Wheels Up employees, subject to the terms of those plans. In addition, the Compensation Committee has authorized us to allocate to Mr. Harvey flight time of 15 hours per year on King Air 350i aircraft and 20 hours per year on mid-cabin aircraft, which for 2024 prorated and resulted in deposits of 3.75 King Air 350i and five mid-cabin flight hours for each of the second, third and fourth quarters. Mr. Harvey also received the grant under the CCO Performance Plan upon starting his employment with the Company on May 20, 2024. The Harvey Offer Letter provides that if the Company terminates his employment without cause or he resigns for good reason (as such term is commonly understood), upon separation he