Form of Aircraft Time Sharing Agreement



 EXHIBIT 10v 
 AIRCRAFT TIME SHARING AGREEMENT 
 This AIRCRAFT TIME SHARING AGREEMENT (the
“Agreement”) is entered into by and between VERIZON CORPORATE SERVICES GROUP INC., a New York corporation, having an office at One Verizon Way,
Basking Ridge, New Jersey 07920 (the “Lessor”), and                     , an individual with an address at
                                        
(the “Lessee”) and shall become effective on and as of the date of execution by the last signing party hereto (the “Effective Date”). 
 RECITALS 
 WHEREAS, Lessor rightfully possesses and has operational
control of the aircraft listed on Schedule A hereto (the “Aircraft”), and 
 WHEREAS, Lessor
employs a fully qualified flight crew to operate the Aircraft, 
 WHEREAS, Lessor and Lessee desire to lease said
Aircraft on a non-exclusive time-sharing basis as defined in Section 91.501(c)(1) of the Federal Aviation Regulations (“FAR”) under such terms and conditions that are mutually satisfactory to both parties hereto, and

 WHEREAS, the use of the Aircraft will at all times be pursuant to, and in full compliance with, the requirements of
FAR Part 91, particularly Sections 91.501(b)(6), 91.501(c)(1), and 91.501(d). 
 NOW, THEREFORE, the parties hereto
agree as follows: 
 LEASE OF AIRCRAFT 
 Lessor agrees to lease the Aircraft to Lessee pursuant to the provisions of FAR Sections 91.501(b)(6), 91.501(c)(1), and 91.501(d) from time to time on a non-exclusive basis and on an “as needed and
as available basis” and to provide a fully-qualified flight crew for all operations pursuant to this Agreement. 

  
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 TERM 
 This Agreement shall commence on the Effective Date, and continue until such time as Lessor or Lessee terminates this Agreement. Either party hereto may at any time terminate this Agreement upon thirty
(30) days written notice to the other party. 
 REIMBURSEMENT FOR USE OF AIRCRAFT 

For each flight undertaken pursuant to this Agreement, Lessee shall pay Lessor an amount determined by Lessor which shall not exceed the
direct operating costs of the Aircraft as authorized by FAR Section 91.501(d). As of the date hereof, those direct operating costs are limited to the following actual expenses for each use of the Aircraft: 

 

	 	1)	Fuel, oil, lubricants and other additives. 

  

	 	2)	Travel expenses of the crew, including food, lodging and ground transportation. 


 

	 	3)	Hangar and tie down costs away from the Aircraft’s base of operation. 


 

	 	4)	Insurance obtained for the specific flight. 

  

	 	5)	Landing fees, airport taxes and similar assessments. 

  

	 	6)	Customs, foreign permit, and similar fees directly related to the flight. 


 

	 	7)	In-flight food and beverages. 

  

	 	8)	Passenger ground transportation. 

  

	 	9)	Flight planning and weather contract services. 

  

	 	10)	An additional charge equal to one hundred percent (100%) of the expenses listed in item (1) above. 


Lessor shall pay all expenses related to the operation of the Aircraft and will provide an invoice and bill to Lessee for the expenses
enumerated above within thirty (30) days after the end 

  
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of the month in which any flight or flights for the account of the Lessee occur for domestic flights and within sixty (60) days after the end of the month in which any flight or flights for
the account of the Lessee occur for international flights. Lessee shall pay Lessor for said expenses within fifteen (15) days of receipt of the invoice and bill therefor. 
 TAXES 
 In addition to the amounts set forth above, Lessee shall pay to
Lessor the amount of the Federal Excise Tax imposed on the amounts paid for taxable transportation of persons (within the meaning of Section 4261-4263 of the Internal Revenue Code of 1986, as amended, and any applicable successor provision) for
flights conducted under this Agreement. Lessor agrees to collect and remit to the appropriate governmental agency for the benefit of Lessee all such federal excise taxes. Amounts due for such taxes shall be included on the monthly invoices submitted
to Lessee. 
 PILOTS 
 Lessor shall employ, pay for and provide a qualified flight crew for each flight undertaken under this Agreement. 
 SCHEDULING 
 Lessee shall provide Lessor with requests for lease of the
Aircraft pursuant to this Agreement and proposed flight schedules as far in advance of any given flight as possible, and in any case, at least 24 hours prior to Lessee’s desired departure. Requests for flight time shall be in a form, whether
oral or written, mutually convenient, and agreed, to by the parties. Lessee shall provide at least the following information for each proposed flight prior to scheduled departure: 

 

	 	a)	Proposed departure point; 

  

	 	b)	Destination; 


  
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	 	c)	Date and time of flight; 

  

	 	d)	The names of all passengers; 

  

	 	e)	The nature and extent of luggage; 

  

	 	f)	The date and time of a return flight, if any, and 

  

	 	g)	Any other information concerning the proposed flight that may be pertinent or required by Lessor or Lessor’s flight crew. 


Lessor shall have final authority over the scheduling of the Aircraft, provided, however, that Lessor will use its best efforts to
resolve any conflicts in scheduling in a fair and equitable manner. The pilot-in-command of the Aircraft shall have final and complete authority to cancel any flight for any reason or condition that in his or her judgment would compromise the safety
of the flight. 
 MAINTENANCE 
 Lessor shall be solely responsible for securing maintenance, preventative maintenance and required or otherwise necessary inspections on the Aircraft. The Aircraft shall be inspected, and maintained in an
airworthy condition, in accordance with applicable rules and regulations of 14 C.F.R. Part 91 during the term of this Agreement. No period of maintenance, preventative maintenance or inspection shall be delayed or postponed for the purpose of
scheduling the Aircraft for Lessee. 
 OPERATIONAL CONTROL 

At any time during which a flight is made by or on behalf of Lessee under this Agreement, Lessor shall have possession, command and
control of the Aircraft. Lessor shall have complete and exclusive responsibility for: (i) scheduling, dispatching and flight of the Aircraft on all flights conducted pursuant to this Agreement, (ii) the physical and technical operation of
the Aircraft, and (iii) the safe performance of all flights. Lessor shall have 

  
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operational control of the Aircraft for all purposes of the Federal Aviation Regulations.1 In accordance with applicable FAR, the qualified flight crew provided by Lessor will exercise all required and/or appropriate duties and
responsibilities in regard to the safety of each flight conducted hereunder. The pilot-in-command of each flight shall have the final authority with respect to: (i) the initiation or termination of any flight, (ii) selection of the routing
of any flight, (iii) determination of the load to be carried, and (iv) all decisions relating to the safety of any flight. No such action of the pilot-in-command shall create or support any liability to Lessee or any other person for loss,
injury, damages or delay. The parties further agree that Lessor shall not be liable for delay or failure to furnish the Aircraft and crew pursuant to this Agreement for any reason. 

DISCLAIMER OF WARRANTIES AND LIMITATION OF LIABILITY 
 LESSOR (OR ITS AFFILIATES OR AGENTS) MAKES, HAS MADE OR SHALL BE DEEMED TO MAKE OR HAVE MADE NO WARRANTIES, WHETHER EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY OF MERCHANTABILITY OR
FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE SERVICES TO BE PERFORMED HEREUNDER OR WITH RESPECT TO THE AIRCRAFT TO BE USED HEREUNDER OR ANY ENGINE OR COMPONENT THEREOF, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY AS TO DESIGN, COMPLIANCE
WITH SPECIFICATIONS, QUALITY OF MATERIALS OR WORKMANSHIP, MERCHANTABILITY, FITNESS FOR ANY PURPOSE, USE OR OPERATION, OR AIRWORTHINESS. LESSOR SHALL NOT BE LIABLE TO LESSEE OR HIS EMPLOYEES, AGENTS, REPRESENTATIVES, GUESTS, OR INVITEES FOR ANY

  
  

1 Those regulations found at 14 C.F.R. Parts 1-199, as amended from time to time. 

  
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 SPECIAL, INCIDENTAL, INDIRECT OR CONSEQUENTIAL DAMAGES OR FOR LOST PROFITS OR REVENUES IN
CONNECTION WITH THE FURNISHING OR PERFORMANCE OF THE SERVICES TO BE PERFORMED HEREUNDER OR USE OF THE AIRCRAFT OR CAUSED BY THE NON-PERFORMANCE OF ANY SERVICES COVERED BY THIS AGREEMENT, IN THE ABSENCE OF GROSS NEGLIGENCE OR WILLFUL MISCONDUCT ON
ITS PART OR THAT OF ITS OFFICERS, EMPLOYEES OR AGENTS. LESSOR SHALL NOT BE LIABLE FOR ANY ACT OR OMISSION OCCURRING IN THE COURSE OF OR IN CONNECTION WITH THE USE OF THE AIRCRAFT BY LESSEE OR THE PERFORMANCE OF THE SERVICES HEREUNDER BY LESSOR OR
ITS MANAGERS, OFFICERS, EMPLOYEES OR AGENTS OR FOR ANY LOSS OR DAMAGE WHICH LESSEE MAY SUSTAIN OR SUFFER AS THE RESULT, OR IN THE COURSE OF, THE DISCHARGE BY LESSOR OF ITS DUTIES HEREUNDER IN THE ABSENCE OF GROSS NEGLIGENCE OR WILLFUL MISCONDUCT ON
ITS PART OR THAT OF ITS OFFICERS, EMPLOYEES OR AGENTS. 
 INSURANCE 

Lessor shall, at its own expense, maintain in effect, during the term of this Agreement, insurance covering the Aircraft with respect to
such risks and in such amounts and with such deductibles and other terms as determined by Lessor in its sole discretion. In addition, Lessor shall maintain comprehensive public liability and property damage insurance with respect to such risks and
in such amounts and with such deductibles and other terms as determined by Lessor in its sole discretion. Lessor shall not cancel or alter said insurance without at least 30 calendar days’ written notice to Lessee. Lessee or Lessee’s
agents shall not take any action that might invalidate or suspend such insurance. Said insurance shall be primary as to Lessor with Lessee being an additional insured (as evidenced by a certificate of insurance) and shall waive all


  
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right of subrogation as to Lessee. Notwithstanding the foregoing and subject to the limitations of 14 C.F.R. § 91.501(d), Lessee shall, at Lessor’s request, reimburse Lessor for the
cost and expense of any additional insurance obtained for any specific flight. 
 LESSEE’S USE OF AIRCRAFT

 Use of Aircraft by Lessee shall be for Lessee’s own account, and by his designated invitees and guests, and shall be
subject to the use limitations set forth in Sections 91.501 of the Federal Aviation Regulations. Lessee is hereby expressly prohibited from using the Aircraft for the transportation of passengers or cargo for compensation or hire. Lessee shall not
accept any compensation whatsoever for any flight conducted under this Agreement. 
 Lessee shall not incur any mechanics or
other lien in connection with the use, inspection, preventative maintenance, maintenance or storage of the Aircraft, nor shall Lessee attempt to convey, mortgage, assign, lease or in any way alienate the Aircraft or create any kind of security
interest involving the Aircraft or do anything or take any action that might mature into such a lien. 
 During the term of this
Agreement, Lessee will abide by and conform to all applicable laws, governmental and airport orders, rules and regulations. 

GENERAL PROVISIONS 
  

	 	A.	This Agreement and all the rights of the parties hereunder shall be construed and enforced in accordance with the laws of the State of New York, without giving effect
to its conflicts of laws principles. 

  

	 	B.	This Agreement supersedes all prior written agreements and understandings between the parties with respect to the subject matter hereof, and no modification,
termination or attempted waiver shall be valid unless in writing and signed by both parties hereto. 


  
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	 	C.	The Aircraft is and at all times shall remain the property of the Lessor, and Lessee shall have no right, title or interest therein or in the proceeds thereof except as
expressly permitted hereunder. 

  

	 	D.	If action is instituted to enforce any of the terms and conditions of this Agreement, the prevailing party shall be entitled to recovery of its reasonable
attorney’s fees and costs incurred in such action. 

  

	 	E.	If any clause or provision herein shall be adjudged to be invalid or unenforceable by a court of competent jurisdiction or by operation of any applicable law, such
adjudication shall not affect the validity of any other clause or provision, which shall remain in full force and effect. 

  

	 	F.	All notices, requests, demands and other communications required or desired to be given hereunder shall be in writing and shall be deemed to be given: (i) if
personally delivered, upon such delivery; or (ii) if sent by regularly scheduled overnight delivery carrier upon the earlier to occur of actual receipt or the next Business Day after being sent by such delivery: 


If to Lessor: 

VERIZON CORPORATE SERVICES GROUP INC. 

One Verizon Way 

Basking Ridge, New Jersey 07920 
 Attention: Executive Director, Aviation 
 Tel: 

Fax: 
 E-Mail:

 If to Lessee: 

  
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 Tel: 
 Fax: 
 E-Mail: 

Notices given by other means shall be deemed to be given only upon actual receipt. Addresses may be changed by written notice given as
provided herein and signed by the party giving the notice. 
  

	 	G.	Neither this Agreement nor Lessee’s interest herein shall be assignable by Lessee to any other person or entity whatsoever. This Agreement shall inure to the
benefit of and be binding upon the parties hereto, their heirs, representatives and successors. 

  

	 	H.	If any provision of this Agreement is held to be invalid, illegal, or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby. 

  

	 	I.	The failure of a party to require performance of any provision of this Agreement shall in no way affect that party’s right thereafter to enforce such a provision
nor shall the waiver by a party of any breach of any provision of this Agreement be taken or held to be a waiver of any further breach of the same provision or any other provision. 


[Truth-in-Leasing Statement and Signature Page Follows] 

  
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 TRUTH IN LEASING 

STATEMENT 

THE AIRCRAFT HAVE BEEN MAINTAINED AND INSPECTED UNDER FAR PART 91 DURING THE 12 MONTH PERIOD PRECEDING THE DATE OF THIS AGREEMENT (OR
PORTION THEREOF SINCE THE AIRCRAFT RECEIVED ITS FAA AIRWORTHINESS CERTIFICATE). THE AIRCRAFT WILL BE MAINTAINED AND INSPECTED UNDER FAR PART 91 FOR OPERATIONS TO BE CONDUCTED UNDER THIS AGREEMENT. 

DURING THE DURATION OF THIS AGREEMENT, VERIZON CORPORATE SERVICES GROUP INC., A NEW YORK CORPORATION HAVING AN OFFICE AT ONE VERIZON WAY,
BASKING RIDGE, NEW JERSEY 07920, SHALL BE CONSIDERED TO BE, AND SHALL IN FACT BE THE RESPONSIBLE PARTY FOR THE OPERATIONAL CONTROL OF THE AIRCRAFT. 
 AN EXPLANATION OF FACTORS BEARING ON OPERATIONAL CONTROL AND PERTINENT FEDERAL AVIATION REGULATIONS CAN BE OBTAINED FROM THE NEAREST FAA FLIGHT STANDARDS DISTRICT OFFICE. THE “INSTRUCTIONS FOR
COMPLIANCE WITH TRUTH IN LEASING REQUIREMENTS” ATTACHED HERETO ARE INCORPORATED HEREIN BY REFERENCE. 

  
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 THE UNDERSIGNED HEREBY CERTIFIES THAT VERIZON CORPORATE SERVICES GROUP INC. IS RESPONSIBLE
FOR OPERATIONAL CONTROL OF THE AIRCRAFT AND UNDERSTANDS ITS RESPONSIBILITIES FOR COMPLIANCE WITH APPLICABLE FEDERAL AVIATION REGULATIONS. 
  

							
	VERIZON CORPORATE SERVICES GROUP INC. (Lessor)
				
	By:	 	  
	  		 	  

		 		  		 	Date and time of execution
			
	(Lessee)	  		 	
			
	  
	  		 	  

	Individually	  		 	Date and time of execution
		 		  		 	


  
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 INSTRUCTIONS FOR COMPLIANCE WITH 

TRUTH IN LEASING REQUIREMENTS 
  

	1.	Mail a copy of the Agreement to the following address via certified mail, return receipt requested, immediately upon execution of the Agreement. (14 C.F.R. § 91.23
requires that the copy be sent within twenty-four hours after it is signed): 

 Federal Aviation Administration

 Aircraft Registration Branch 
 ATTN: Technical Section 
 POB 25724 

Oklahoma City, OK 73125 
  

	2.	Telephone or send a facsimile message to the nearest Flight Standards District Office at least forty-eight hours prior to first flight under this Agreement and inform
them of the following: 

  

	 	a.	The location of the airport of departure; 

  

	 	b.	The departure time; and 

  

	 	c.	The registration number of the aircraft involved. 

  

	3.	Carry a copy of the Agreement in the Aircraft at all times. 


  
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 SCHEDULE A 
  

							
	 Operator
	 	 Manufacturer/Model
	 	 Serial No.
	 	 Tail No.



 

  
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