Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 39

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 39
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 Provisions of Delaware Law

The Organizational Documents
and the Delaware General Corporation Law (“DGCL”) contain, provisions, as summarized in the following paragraphs, which are
intended to enhance the likelihood of continuity and stability in the composition of the Board and to discourage certain types of transactions
that may involve an actual or threatened acquisition of the Company. In addition, under the Investor Rights Agreement, each of Delta
and CK Wheels, so long as each has the right to designate at least one director to the Board, must consent to: (i) the acquisition,
by merger, consolidation, acquisition of stock or assets or otherwise, directly or indirectly, of any assets, securities, properties
or businesses, in each case, with a value in excess of $10.0 million per occurrence or in the aggregate, other than to the extent
permitted under the Credit Facility (as defined in the Investor Rights Agreement); or (ii) the sale, assignment, lease, sublease,
license, sublicense or otherwise transfer or disposal of, any assets of the Company or its subsidiaries with a value in excess of $10.0 million
per occurrence or in the aggregate, other than to the extent permitted under the Credit Facility (as defined in the Investor Rights Agreement).
These provisions are intended to avoid costly takeover battles, reduce the Company’s vulnerability to a hostile change of control
or other unsolicited acquisition proposal, and enhance the ability of the Board to maximize stockholder value in connection with any
unsolicited offer to acquire the Company. However, these provisions may have the effect of delaying, deterring or preventing a merger
or acquisition of the Company by means of a tender offer, a proxy contest or other takeover attempt that a stockholder might consider
in its best interest, including attempts that might result in a premium over the prevailing market price for the shares of Common Stock.

Special Meetings of Stockholders

The Certificate of Incorporation
provides that a special meeting of stockholders may be called by the (i) Chairperson of the Board, (ii) the Company’s
Chief Executive Officer or (iii) the Board pursuant to a resolution adopted by a majority of the Board, provided that such special
meeting may be postponed or cancelled by the Board.

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Requirements for Advance Notification of Stockholder Meetings, Nominations and Proposals

The By-Laws establish advance
notice procedures with respect to stockholder proposals and the nomination of candidates for election as directors, other than nominations
made by or at the direction