Company: SRFM
Filing Date: 2025-05-02
Form Type: PRE 14A
Source: 0001140361-25-017136
Chunk: 55

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-05-02
Form: PRE 14A
Chunk 55
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 issued, or issuable under or in settlement of or the amount payable pursuant to an award, which criteria may be based on any objective or subjective performance goals the Administrator establishes with respect to an award. Performance goals may also relate to a participant’s individual performance. Transferability All awards are non-transferable and will not be subject to sale, transfer, anticipation, alienation, assignment, pledge, encumbrance, or charge other than as required by applicable law unless the Administrator permits the award to be transferred in accordance with the terms of the Plan. Adjustments of and Changes in the Stock In the event of any change in the capitalization of the Company, the Administrator may make adjustments in a manner that it deems equitable and proportionate. Such adjustments may be to the number and type of shares reserved for issuance under the Plan, the number, amount and type of shares covered by awards then outstanding under the Plan, the securities, cash or other property deliverable upon exercise or payment of any outstanding awards, or the grant, purchase or exercise price of outstanding awards, in each case to the extent necessary to preserve (but not increase) the level of incentives intended by the Plan and the then-outstanding awards. In the event of a corporate transaction (as described in Section 7.2 of the Plan), the Administrator may make provision for a cash payment in settlement of, or for the termination, assumption, substitution or exchange of any or all outstanding awards or the cash, securities or property deliverable to the holder of any or all outstanding awards, based upon, to the extent relevant under the circumstances, the distribution or consideration payable to holders of the common stock upon or in respect of such event. Upon the occurrence of such a corporate transaction for which the Administrator has made provision for the award to be terminated (and the Administrator has not made a provision for the substitution, assumption, exchange or other continuation or settlement of the award): (1) unless otherwise provided in the applicable award agreement, each then-outstanding option and SAR will become fully vested, all shares of restricted stock then outstanding will fully vest free of restrictions, and each other award granted under the

| Surf Air Mobility Inc. |     | 44 |     | 2025 Proxy Statement |

TABLE OF CONTENTS Plan that is then outstanding will become payable to the holder of such award (with any performance goals applicable to the award in each case being deemed met, unless otherwise provided in the award agreement, at the “target” performance level); and (2) each award (including