Company: SRFM
Filing Date: 2025-05-13
Form Type: DEF 14A
Source: 0001140361-25-018647
Chunk: 51

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-05-13
Form: DEF 14A
Chunk 51
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 with an exercise or grant price above the current fair market value of a share of our common stock in exchange for cash or other securities.

| • | the Company may not make a grant of any award with a grant date that is effective prior to the date the Administrator takes action to approve such award; |

| • | no excise tax gross-ups; |

| • | annual limits on equity compensation that may be awarded to non-employee directors; |

| • | dividend or dividend equivalent payments will be paid only at the time or times the vesting requirement(s) of the underlying award are satisfied; provided, however, that in no event will dividends or dividend equivalents be paid with respect to stock options and stock appreciation rights; and |

| • | the administrator may cancel outstanding awards or, in some cases, “claw back” awards previously granted in the event of a violation of the Company’s clawback policy. |

Plan Summary The following summary of the material terms of the Plan is qualified in its entirety by reference to the complete statement of the Plan, which is set forth in Appendix B to this Proxy Statement. Stockholders are encouraged to read the text of the Plan in its entirety. Purpose The Plan is intended to promote the success of the Company by providing an additional means through the grant of awards to attract, motivate, retain and reward selected employees and other eligible persons and to enhance the alignment of the interests of the selected participants with the interests of the Company’s stockholders. Administration The “Administrator” of the Plan means the Board or one or more committees (or subcommittees, as the case may be) to which the Board or another committee, within its delegated authority, has delegated authority in accordance with the terms of the Plan. The Board has delegated authority to the Compensation Committee to administer the Plan. The Administrator has full discretionary authority, subject to and not inconsistent with the express provisions of the Plan, to administer the Plan and to exercise all the powers and authorities either specifically granted to it under the Plan or necessary or advisable in the administration of the Plan, including, but not limited to, the authority to: (i) determine eligibility and, from among those persons determined to be eligible, determine the particular eligible persons who will receive an award under the Plan; (ii) grant awards to eligible persons, determine the price (if any) at which securities will be offered or awarded and the number of securities to be offered or awarded to any of such persons (in the case of securities-based awards), determine the other specific terms and conditions