Document:

Exhibit 10.2

 

VOTING SUPPORT AGREEMENT

 

VOTING SUPPORT AGREEMENT, dated as of May 17, 2022
(this “Agreement”), by and among TUSCAN HOLDINGS CORP. II, a Delaware corporation (“Tuscan”), and
each of the members of Surf Air Global Limited, a company formed under the laws of the British Virgin Islands (the “Company”)
whose names appear on the signature pages of this Agreement (each, a “Shareholder” and, collectively, the “Shareholders”).

 

WHEREAS, Tuscan, the Company, Surf Air Mobility
Inc., a Delaware corporation and wholly-owned subsidiary of the Company (“Parentco”), THCA Merger Sub Inc., a Delaware
corporation and wholly-owned subsidiary of Parentco (“Merger Sub I”), and SAGL Merger Sub Limited, a corporation formed
under the laws of the British Virgin Islands and wholly-owned subsidiary of Parentco (“Merger Sub II”) propose to enter
into, concurrently herewith, a business combination agreement (the “BCA”; capitalized terms used but not defined in
this Agreement shall have the meanings ascribed to them in the BCA), a copy of which has been made available to each Shareholder, which
provides, among other things, that, upon the terms and subject to the conditions thereof, Tuscan, the Company, Merger Sub I and Merger
Sub II shall enter into a business combination pursuant to which, inter alia, Merger Sub I will merge with and into Tuscan, with
Tuscan surviving the First Merger as a wholly-owned subsidiary of Parentco and Merger Sub II will merge with and into the Company (the
“Second Merger”), with the Company surviving the Second Merger as a wholly-owned Subsidiary of Parentco;

 

WHEREAS, as of the date hereof, each Shareholder
owns of record or beneficially the number of Company Shares and/or Company Preferred Shares as set forth opposite such Shareholder’s
name on Exhibit A hereto (all such Company Shares, Company Preferred Shares or other Company securities of which ownership of record
or the power to vote is now held or hereafter acquired by the Shareholders prior to the termination of this Agreement and any Company
Shares or Company Preferred Shares issuable upon the conversion, exercise or exchange of Company securities, being referred to herein
as the “Shares”);

 

WHEREAS, the Company Board has provided
the Company Board Recommendation; and

 

WHEREAS, in order to induce Tuscan, to enter
into the BCA, the Shareholders are executing and delivering this Agreement to Tuscan.

 

    1

     

    

 

NOW, THEREFORE, in consideration of the
foregoing and of the mutual covenants and agreements contained herein, and intending to be legally bound hereby, the parties hereto hereby
agree as follows:

 

1. Agreement
to Vote. Each Shareholder, by this Agreement, solely with respect to such Shareholder’s Shares and in such Shareholder’s
capacity as a member of the Company, severally and not jointly, hereby agrees (and agrees to execute such documents or certificates evidencing
such agreement as Tuscan may reasonably request in connection therewith), if (and only if) each of the Approval Conditions shall have
been met, to vote, in person, by proxy or voting card (and to be counted as present thereat for purposes of calculating a quorum), at
any meeting of the shareholders of the Company (including any adjournment or postponement thereof), and in any action by written consent
of the shareholders of the Company, all of such Shareholder’s Shares (a) in favor of the approval and adoption of the BCA, the Transaction
Documents, and the transactions contemplated by the BCA and the Transaction Documents (including, without limitation, the Second Merger),
(b) in favor of the Company Proposals, (c) in favor of terminating the Company Shareholders Agreement to which such Shareholder is a party,
effective as of the Second Effective Term, (d) in favor of any proposal to adjourn or postpone to a later date any meeting of the shareholders
of the Company at which any of the foregoing matters are submitted for consideration and vote of the shareholders of the Company if there
are not sufficient votes for approval of any such matters on the date on which the meeting is held, (e) in favor of effecting the mandatory
conversion of each issued and outstanding Company Preferred Share into Ordinary Shares in accordance with the Company’s organizational
documents, with such conversion to be subject to and conditioned upon the Closing of the Transactions and deemed effective as of immediately
prior to Closing and (f) against any action, agreement or transaction (other than the BCA or the transactions contemplated thereby) or
proposal that would reasonably be expected to (i) prevent, impede, materially delay, or adversely affect in any material respect the transactions
contemplated by the BCA or any Transaction Document, (ii) result in the failure of the transactions contemplated by the BCA to be consummated
or (iii) amend or modify the Company’s Certificate of Incorporation or Bylaws that would change the voting rights or the number
of votes required to approve any proposal, including the vote required to adopt the BCA. Each Shareholder acknowledges receipt and review
of a copy of the BCA. For purposes of this Agreement, “Approval Conditions” shall mean there shall not have been any
amendment or modification to the Merger Consideration payable under the BCA to the Shareholders, including any reduction in, or changing
the form of, the Merger Consideration. Each Shareholder shall duly execute and deliver to the Company any action by written consent requested
by the Company pursuant to this Section 1 as promptly as practicable following such request and receipt of the Company Board Recommendation,
and in any event within ten (10) Business Days after the Registration Statement is declared effective by the SEC. Each Shareholder agrees
that, following delivery of any such consent, such Stockholder will not take any action to withdraw, modify, revoke or otherwise challenge
the effectiveness of such written consent except in the event that any of the Approval Conditions are no longer satisfied.

 

2. Transfer
of Shares; Additional Shares. Each Shareholder, severally and not jointly, agrees that it shall not, directly or indirectly, (a) sell,
assign, transfer (including by operation of law), permit the creation of any lien, pledge, dispose of or otherwise encumber any of the
Shares or otherwise agree to do any of the foregoing (any such action, a “Transfer”) (unless the transferee agrees
to be bound by this Agreement pursuant to a joinder agreement reasonably acceptable to Tuscan), (b) deposit any Shares into a voting trust
or enter into a voting agreement or arrangement or grant any proxy or power of attorney with respect thereto that is inconsistent with
this Agreement, (c) enter into any contract, option or other arrangement or undertaking with respect to the direct or indirect acquisition
or sale, assignment, transfer (including by operation of law) or other disposition of any Shares (unless the transferee agrees to be bound
by this Agreement pursuant to a joinder agreement reasonably acceptable to Tuscan), or (d) take any action that would have the effect
of preventing or disabling the Shareholder from performing its obligations hereunder. During the period commencing on the date hereof
and ending on the earlier to occur of (a) the Effective Time (as defined in the BCA), and (b) such date and time as the BCA shall be terminated,
in the event that, (i) any shares of Company capital stock or other equity securities of Company are issued to the Shareholder after the
date of this Agreement pursuant to any stock dividend, stock split, recapitalization, reclassification, combination or exchange of Company
securities owned by the Shareholder, (ii) the Shareholder purchases or otherwise acquires beneficial ownership of any shares of Company
capital stock or other equity securities of Company after the date of this Agreement, or (iii) the Shareholder acquires the right to vote
or share in the voting of any Company capital stock or other equity securities of Company after the date of this Agreement (such Company
capital stock or other equity securities of the Company, collectively the “New Securities”), then such New Securities acquired
or purchased by the Shareholder shall be subject to the terms of this Agreement to the same extent as if they constituted the Shareholder
Shares as of the date hereof.

 

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3. No
Solicitation of Transactions. Subject to Section 7(n), each Shareholder, severally and not jointly, agrees that such Shareholder
shall (a) be deemed a Representative of the Company solely for purposes of Section 6.06(a) of the BCA and (b) not, directly or indirectly,
including through any Representative of such Shareholder, take any action in violation of Section 6.06(a) of the BCA (including any action
which the Company is obligated pursuant to Section 6.06(a) of the BCA to instruct its Representatives to cease or not to take).

 

4. Representations
and Warranties. Each Shareholder, severally and not jointly, represents and warrants to Tuscan as follows:

 

(a) The execution, delivery and performance by
such Shareholder of this Agreement and the consummation by such Shareholder of the transactions contemplated hereby do not and will not
(i) conflict with or violate any United States or non-United States statute, law, ordinance, regulation, rule, code, executive order,
injunction, judgment, decree or other order applicable to such Shareholder, (ii) require any consent, approval or authorization of, declaration,
filing or registration with, or notice to, any person or entity, (iii) result in the creation of any Lien on any Shares or (iv) if the
Shareholder is not a natural person, conflict with or result in a breach of or constitute a default under any provision of such Shareholder’s
Organizational Documents.

 

(b) Such Shareholder owns of record and has good,
valid and marketable title to the Shares set forth opposite the Shareholder’s name on Exhibit A free and clear of any Lien
(other than pursuant to this Agreement or transfer restrictions under applicable securities laws or the Organizational Documents of the
Company or such Shareholder) and has the sole power (as currently in effect) to vote and full right, power and authority to sell, transfer
and deliver such Shares, and such Shareholder does not own, directly or indirectly, any Shares that are not reflected on Exhibit A.

 

(c) Such Shareholder has the power, authority
and capacity to execute, deliver and perform this Agreement. If such Shareholder is an entity, it is duly organized, validly existing
and in good standing under the laws of the jurisdiction of its organization. This Agreement has been duly authorized, executed and delivered
by such Shareholder and, assuming due authorization, execution and delivery by the other parties hereto, as applicable, each constitutes
a valid and binding obligations of such Shareholder, enforceable against such Shareholder in accordance with its terms, subject to applicable
bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other laws affecting creditor’s rights generally and
general principles of equity.

 

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5. 
Terminated Agreements. Each Shareholder hereby terminates (for itself and on behalf of each of its Affiliates) all of the agreements,
if any, between itself or any of its Affiliates and the Company or any Company Subsidiary that are set forth on Exhibit B (the “Terminated
Agreements”), effective as of, or immediately prior to, the Closing and shall execute the termination acknowledgement attached
to this Agreement. Upon such termination, the Terminated Agreements shall be of no further force and effect, and none of the parties thereto
shall have any further rights or obligations thereunder. Each Shareholder shall take, or cause to be taken, such other actions as may
be necessary to effect the foregoing.

 

6. Termination.
This Agreement and the obligations of the Shareholders under this Agreement shall automatically terminate upon the earliest of (a) the
Closing (provided that, notwithstanding the foregoing, the provisions of Section 5 and Section 7 shall survive the
Closing); (b) the termination of the BCA in accordance with its terms; and (c) the mutual agreement of Tuscan and Shareholders holding
a majority in interest of the Shares held by all Shareholders. Upon termination or expiration of this Agreement, no party shall have any
further obligations or liabilities under this Agreement; provided, however, such termination or expiration shall not relieve any
party from liability for any willful breach of this Agreement occurring prior to termination; provided, further, that the
provisions set forth in this Section 6 and Section 7 (other than Section 7(r)) shall survive the termination of this Agreement.

 

7. Miscellaneous.

 

(a) Except as otherwise provided herein or in
any Transaction Document, all costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall
be paid by the party incurring such costs and expenses, whether or not the transactions contemplated hereby are consummated.

 

(b) All notices, requests, claims, demands and
other communications hereunder shall be in writing and shall be given (and shall be deemed to have been duly given upon receipt) by delivery
in person, by telecopy or e-mail or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties
at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section
7(b)):

 

If to Tuscan, to it at:

 

Tuscan Holdings Corp. II

135 E. 57th St.

New York, NY 10023

Attention: Stephen Vogel

Email: Stephen@tuscanholdings.com

 

with copies (which shall not constitute effective notice)
to:

 

Graubard Miller

The Chrysler Building

405 Lexington Ave., 11th Fl.

New York, NY 10174

Attention: David Alan Miller / Jeffrey M. Gallant

Email: dmiller@graubard.com / jgallant@graubard.com

 

    4

     

    

 

If to Company, to it at:

 

Surf Air Global Limited

Attention: General Counsel

Email: legalnotices@surfair.com

 

and

 

Surf Air Mobility Inc.

12111 S. Crenshaw Blvd

Hawthorne, CA 90250

Attention: General Counsel

Email: legalnotices@surfair.com

 

with copies (which shall not constitute effective
notice) to:

 

O’Melveny & Myers

2 Embarcadero Center, 27th Floor

San Francisco, CA 94111

Attention: Noah Kornblith

Email: nkornblith@omm.com

 

If to a Shareholder, to the address set forth for
such Shareholder on the signature page hereof.

 

(c) If any term or other provision of this Agreement
is invalid, illegal or incapable of being enforced by any rule of Law, or public policy, all other conditions and provisions of this Agreement
shall nevertheless remain in full force and effect so long as the economic or legal substance of the Transactions is not affected in any
manner materially adverse to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being
enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties
as closely as possible in a mutually acceptable manner in order that the Transactions be consummated as originally contemplated to the
fullest extent possible.

 

(d) This Agreement and the other Transaction Documents
constitute the entire agreement among the parties with respect to the subject matter hereof and supersede all prior agreements and undertakings,
both written and oral, among the parties, or any of them, with respect to the subject matter hereof. This Agreement shall not be assigned
(whether pursuant to a merger, by operation of Law or otherwise).

 

(e) This Agreement shall be binding upon and inure
solely to the benefit of each party hereto, and nothing in this Agreement, express or implied, is intended to or shall confer upon any
other person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

 

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(f) This Agreement shall be governed by, and construed
in accordance with, the Laws of the State of Delaware applicable to contracts executed in and to be performed in that state, except to
the extent (and only to the extent) that the laws of the British Virgin Islands are required to be applied with respect to the obligations
under Section 1 hereof.

 

(g) All actions and proceedings arising out of
or relating to this Agreement shall be heard and determined exclusively in any Delaware Chancery Court, or if such court does not have
subject matter jurisdiction, any state or federal court located in the State of Delaware. The parties hereto hereby (a) submit to the
exclusive jurisdiction of the Delaware Chancery Court for the purpose of any Action arising out of or relating to this Agreement brought
by any party hereto, and (b) irrevocably waive, and agree not to assert by way of motion, defense, or otherwise, in any such Action, any
claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment
or execution, that the Action is brought in an inconvenient forum, that the venue of the Action is improper, or that this Agreement or
the Transactions may not be enforced in or by any of the above-named courts.

 

(h) EACH OF THE PARTIES HERETO HEREBY WAIVES TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY
ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH OF THE PARTIES HERETO (A) CERTIFIES
THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT,
IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED
TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION 7(h).

 

(i) The parties agree that irreparable damage
would occur if any provision of this Agreement were not performed in accordance with the terms hereof, and, accordingly, that the parties
shall be entitled to an injunction or injunctions, specific performance, and other equitable relief to prevent breaches of this Agreement
or to enforce specifically the performance of the terms and provisions hereof in the Delaware Chancery Court or, if that court does not
have subject matter jurisdiction, any state or federal court located in the State of Delaware without proof of actual damages or otherwise,
in addition to any other remedy to which they are entitled at Law or in equity. Each of the parties hereby further waives (a) any defense
in any action for specific performance that a remedy at Law would be adequate and (b) any requirement under any Law to post security or
a bond as a prerequisite to obtaining equitable relief.

 

(j) This Agreement may be executed and delivered
(including by facsimile or electronic transmission) in one or more counterparts, and by the different parties hereto in separate counterparts,
each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement.

 

(k) Without further consideration, each Shareholder
shall use commercially reasonable efforts to execute and deliver or cause to be executed and delivered such additional documents and instruments
and take all such further action as may be reasonably necessary or desirable by the Company Board to consummate the transactions contemplated
by this Agreement. The Shareholder further agrees not to commence or participate in, and to take all actions necessary to opt out of any
class action with respect to, any action or claim, derivative or otherwise, against the Company, Parentco, Tuscan, Merger Sub I, Merger
Sub II or any of their respective Affiliates, or any of their respective successors and assigns, relating to the negotiation, execution
or delivery of this Agreement, the BCA (including the Merger Consideration) or the consummation of the transactions contemplated hereby
and thereby

 

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(l) This Agreement shall not be effective or binding
upon any Shareholder until such time as the BCA is executed by each of the parties thereto.

 

(m) Nothing contained in this Agreement shall
be deemed to vest in Tuscan any direct or indirect ownership or incidence of ownership of or with respect to any Shares. All rights, ownership
and economic benefits of and relating to the Shares shall remain vested in and belong to each respective Shareholder, and Tuscan shall
not have any authority to direct such Shareholder in the voting or disposition of any of the Shares, except as otherwise expressly provided
herein.

 

(n) Notwithstanding anything herein to the contrary,
the restrictions and covenants of the Shareholders hereunder shall not be binding, and shall have no effect, in any way with respect to
any director or officer of the Company or any of its subsidiaries in such Person’s capacity as such a director or officer, nor shall
any action taken by any such director or officer in his or her capacity as such be deemed a breach by any Shareholder of this Agreement.
Nothing herein will be construed to prohibit, limit or restrict any Shareholder from exercising his fiduciary duties as an officer or
director to the Company or its shareholders. In addition, nothing herein shall be construed to limit or restrict any obligations that
a Shareholder may have as a director or officer of the Company or any of its subsidiaries pursuant to the BCA. Each Shareholder is executing
this Agreement solely in such capacity as a record or beneficial holder of Shares.

 

(o) Notwithstanding anything to the contrary contained
herein, the parties hereto acknowledge and agree that each representation, warranty, covenant, agreement and obligation of any Shareholder
in this Agreement shall be a several representation, warranty, covenant, agreement or obligation (as applicable) of such Shareholder made
solely as to such Shareholder. No Shareholder shall be responsible or liable in any way whatsoever for any representation, warranty, covenant,
agreement or obligation of any other Shareholder in this Agreement.

 

(p) Any provision of this Agreement may be amended
or waived if, but only if, such amendment or waiver is in writing and is signed, in the case of an amendment, by each party to this Agreement
or, in the case of a waiver, by each party against whom the waiver is to be effective, but such waiver shall not operate as a waiver of,
or estoppel with respect to, any subsequent or other failure.

 

(q) The parties hereto acknowledge and agree that
the provisions of Section 5.03 (Claims Against Trust Fund) of the BCA shall apply to this Agreement and the parties hereto mutatis mutandis.

 

    7

     

    

 

(r) Shareholder hereby waives, and agrees not
to exercise or assert, if applicable, any appraisal rights, dissenter’s rights or similar rights (whether under the laws of the
British Virgin Islands or other applicable law) in connection with the Second Merger.

 

(s) Effective as of the Closing, each Shareholder
and its respective Affiliates and its respective successors, assigns, executors, heirs, officers, directors, managers, members, partners
and employees (each a “Shareholder Releasor”), hereby irrevocably, knowingly and voluntarily releases, discharges and
forever waives and relinquishes all claims, demands, obligations, liabilities, defenses, affirmative defenses, setoffs, counterclaims,
Actions and causes of action of whatever kind or nature, whether known or unknown, which any of the Shareholder Releasors has, might have
or might assert now or in the future, against Parentco, Tuscan and any of their respective Affiliates and their respective successors,
assigns, officers, directors, managers, partners and employees or any of their respective heirs or executors (in each case in their capacity
as such) (each, a “Parentco Releasee”), arising out of, based upon or resulting from any contract, transaction, event,
circumstance, action, failure to act or occurrence of any sort or type, whether known or unknown, arising from such Shareholder’s
ownership interest in the Company and which occurred, existed or was taken or permitted at or prior to the Closing (collectively, the
“Released Claims”); provided, however, that nothing contained in this Section 7(s) shall release, waive, discharge,
relinquish or otherwise affect the rights or obligations of any party to the extent arising out of this Agreement or the other Transaction
Documents. Each Shareholder shall, and shall cause the other Shareholder Releasors to, refrain from, directly or indirectly, asserting
any claim or demand, or commencing, instituting or causing to be commenced any legal proceeding, of any kind against a Parentco Releasee
based upon any matter released pursuant to this Section 7(s).

 

Without limiting the generality of this Section
7(s), with respect to the Released Claims, each Shareholder, on behalf of itself and each Shareholder Releasor, hereby expressly waives
all rights under Section 1542 of the Civil Code of the State of California (the “California Civil Code”) and any similar
Law or common law principle in any applicable jurisdiction prohibiting or restricting the waiver of unknown claims. Section 1542 of the
California Civil Code reads as follows:

 

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS
WHICH THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH
IF KNOWN BY HIM OR HER WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.”

 

Notwithstanding the provisions of Section 1542
of the California Civil Code or any similar Law or common law principle in any applicable jurisdiction, and for the purpose of implementing
a full and complete release and discharge of the Parentco Releasees, each Shareholder, on behalf of itself and each Shareholder Releasor,
expressly acknowledges that the foregoing release is intended to include in its effect all claims which each Shareholder or any Shareholder
Releasor does not know or suspect to exist in his, her or its favor against any of the Parentco Releasees arising from a Released Claim
(including unknown and contingent claims), and that the foregoing release expressly contemplates the extinguishment of all such claims
(except to the extent expressly set forth herein).

 

(t) The Shareholder hereby authorizes the Company
and Tuscan to publish and disclose in any announcement or disclosure to the extent required by law, rule or regulation by the SEC the
Shareholder’s identity and ownership of the Shares and the nature of the Shareholder’s obligations under this Agreement.

 

[signature pages follow]

 

    8

     

    

 

IN WITNESS WHEREOF, the parties have executed this
Agreement as of the date first written above.

 

	 	TUSCAN HOLDINGS CORPORATION II
	 	 	 
	 	By:	/s/ Stephen Vogel
	 	Name:	Stephen Vogel
	 	Title:	Chief Executive  Officer

  

[Signature Page – Voting Support Agreement]

 

     

     

    

 

	 	SHAREHOLDERS:
	 	 
	 	[●]	 
	 	 	 
	 	By:	                
	 	Name:	 
	 	Title:	 
	 	
	 	[●]	 

 

	Notice information:	 
	 	 
	Address:	 
	 	 
	[●]	
	 	 
	[●]	 
	 	 
	Attention: [●]	 
	 	 
	Email: [●]	 
	 	 
	With a copy to (which shall not constitute notice):	 
	 	 
	Address:	 
	 	 
	[●]	 
	 	 
	[●]	 
	 	 
	Attention: [●]	 

         

	Email: [●]	 

 

[Signature Page – Voting Support Agreement]

 

     

     

    

 

Termination Acknowledgement

 

The undersigned hereby consents to the termination of each Terminated
Agreement to which the undersigned or any of its Affiliates is a party, effective in accordance with Section 5. The provisions
of Section 7 (other than Section 7(r) and Section 7(s)) shall apply mutatis mutandis to this consent.

 

	[●]	 	 
	 	 	 
	By:		 
	Name: 	 	 
	Title:	 	 

 

[Signature Page – Voting Support Agreement]Exhibit
10.3

 

SPONSOR
LETTER AGREEMENT

 

This
SPONSOR LETTER AGREEMENT (this “Agreement”), dated as of May 17, 2022, is made by and among Tuscan Holdings Acquisition
II, LLC, a Delaware limited liability company (together with its successors, the “Sponsor”), Tuscan Holdings Corp.
II, a Delaware corporation (“Tuscan”), Surf Air Global Limited, a corporation formed under the laws of the British
Virgin Islands (the “Company”), Surf Air Mobility Inc., a Delaware corporation and wholly-owned subsidiary of the
Company (“Parentco”), THCA Merger Sub Inc., a Delaware corporation and wholly-owned subsidiary of Parentco (“Merger
Sub I”), and SAGL Merger Sub Limited, a corporation formed under the laws of the British Virgin Islands and wholly-owned subsidiary
of Parentco (“Merger Sub II” and together with the Company, Parentco and Merger Sub I, the “Surf Entities”).
Sponsor, Tuscan and the Surf Entities shall be referred to herein from time to time collectively as the “Parties”.
Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Business Combination Agreement
(as defined below).

 

WHEREAS,
Tuscan and the Surf Entities entered into that certain Business Combination Agreement, dated as of the date hereof (as it may be amended,
restated or otherwise modified from time to time, the “Business Combination Agreement”); and

 

WHEREAS,
the Business Combination Agreement contemplates that the Parties will enter into this Agreement concurrently with the entry into the
Business Combination Agreement, whereby Sponsor shall agree to certain other covenants and agreements related to the transactions contemplated
by the Business Combination Agreement.

 

NOW,
THEREFORE, in consideration of the premises and the mutual promises contained herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

 

1.
Representations and Warranties. The Sponsor represents and warrants to Tuscan and the Surf Entities that the following statements
are true and correct:

 

(a)
The Sponsor has the requisite corporate, limited liability company or other similar power and authority to execute and deliver this Agreement
and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement and the consummation of the transactions
contemplated hereby have been duly authorized by all necessary corporate action on the part of the Sponsor. This Agreement has been duly
and validly executed and delivered by the Sponsor and constitutes a valid, legal and binding agreement of the Sponsor (assuming this
Agreement has been duly authorized, executed and delivered by the other Parties hereto), enforceable against the Sponsor in accordance
with its terms (subject to applicable bankruptcy, insolvency, reorganization, moratorium or other Laws affecting generally the enforcement
of creditors’ rights and subject to general principles of equity).

 

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(b)
The Sponsor is, and immediately prior to the First Effective Time will be, the record owner of (i) 4,312,500 shares of Tuscan’s
Common Stock issued prior to Tuscan’s initial public offering (the “Founder Shares”; provided that following
the First Effective Time, “Founder Shares” shall refer to shares of Parentco Common Stock into which such Founder
Shares are converted pursuant to Section 2.01(a) of the Business Combination Agreement) and (ii) (A) 198,438 units issued in a
private placement concurrently with Tuscan’s initial public offering (the “Private Units”), each unit consisting
of one share of Tuscan’s Common Stock (the “Private Unit Shares”; provided that following the First Effective
Time, “Private Unit Shares” shall refer to shares of Parentco Common Stock into which such Private Unit Shares are
converted pursuant to Section 2.01(a) of the Business Combination Agreement) and one-half of one warrant (the “Private
Unit Warrants”) to purchase a share of Tuscan’s Common Stock at a price of $11.50 per whole share (such class of warrants,
the “Warrants”; provided that the Warrants shall be assumed by Parentco and shall be exerciseable for a share of Parentco
Common Stock following the First Effective Time), and (B) 992,186 Warrants issued in a private placement concurrently with Tuscan’s
initial public offering (the “Private Warrants”), which together constitute all of the equity securities in Tuscan
held by Sponsor and its Affiliates as of the date hereof. The Sponsor has, or will have as of the date hereof and immediately prior to
giving effect to the transactions occurring on the Closing Date, as applicable, valid, good and marketable title to the Founder Shares,
free and clear of all Liens (other than Liens pursuant to this Agreement or any other Transaction Document and transfer restrictions
under applicable Law or under the Organizational Documents of Tuscan (prior to the First Effective Time) or Parentco (after the First
Effective Time)). Except for this Agreement, the Sponsor is not party to any option, warrant, purchase right, or other contract or commitment
that could require the Sponsor to sell, transfer, or otherwise dispose of the Founder Shares. Except for this Agreement, the Sponsor
is not party to, nor will it enter into at any time while this Agreement is in effect, any voting trust, proxy or other agreement or
understand with respect to the voting of the Founder Shares or the Private Units or Private Warrants. Neither the Sponsor, nor any transferees
of any equity interests of Tuscan initially held by the Sponsor, has asserted or perfected any rights to adjustment or other anti-dilution
protections with respect to any equity securities of Tuscan (including the Founder Shares and the Private Units and Private Warrants)
(whether in connection with the transactions contemplated by the Business Combination Agreement or otherwise).

 

(c) The execution, delivery
and performance by it of this Agreement and the consummation by the Sponsor of the transactions contemplated hereby do not: (i) conflict
with or result in any breach of any provision of the Organizational Documents of the Sponsor, (ii) result in a violation or breach of,
or constitute (with or without due notice or lapse of time or both) a default or give rise to any right of termination, cancellation
or acceleration under, any of the terms, conditions or provisions of any note, bond, mortgage, indenture, lease, license, contract, agreement
or other instrument or obligation to which the Sponsor is a party or by which its properties or assets may be bound, (iii) violate any
Order or Law of any Governmental Authority applicable to the Sponsor or its Subsidiaries, or any of their respective properties or assets
(including the Founder Shares), as applicable, or (iv) result in the creation of any Lien (other than Liens pursuant to this Agreement
or any other Transaction Document to which it is subject or bound and transfer restrictions under applicable Law or under the Organizational
Documents of Tuscan (prior to the First Effective Time) or Parentco (after the First Effective Time)) upon its assets (including the
Founder Shares), except in the case of clauses (ii), (iii) and (iv) above, for violations which would not reasonably be expected to materially
impact, impair or delay or prevent the ability of the Sponsor to consummate the transactions contemplated by this Agreement or have a
material adverse effect on the ability of the Sponsor to perform its obligations hereunder.

 

    2

     

    

 

2. Covenants.

 

(a) Subject to the terms
and conditions of this Agreement, the Sponsor hereby unconditionally and irrevocably agrees to take, or cause to be taken, all actions
and to do, or cause to be done, all things necessary, proper or advisable to consummate and make effective the transactions contemplated
by Section 2 of this Agreement.

 

(b) From the date hereof
until the earlier of the Closing and the termination of the Business Combination Agreement in accordance with its terms, the Sponsor
hereby unconditionally and irrevocably agrees that at any duly called meeting of the stockholders of Tuscan (or any adjournment or postponement
thereof), and in any action by written consent of the stockholders of Tuscan, it shall, and shall cause its Affiliates to, if a meeting
is held, appear at the meeting, in person or by proxy, or otherwise cause its equity securities in Tuscan to be counted as present thereat
for purposes of establishing a quorum, and it shall vote or consent (or cause to be voted or consented), in person or by proxy, all of
its equity securities (a) (i) in favor of the Business Combination Agreement, the Transaction Documents (which, for the avoidance of
doubt, shall include this Agreement) and the transactions contemplated hereby and thereby and in favor of any and all Extension Proposals,
(ii) in favor of any proposal to adjourn or postpone to a later date any meeting of the stockholders of Tuscan at which any of the foregoing
matters are submitted for consideration and vote of the stockholders of Tuscan to the extent such adjournment is permitted under the
Business Combination Agreement, and (iii) against any action, proposal, transaction or agreement that would result in a breach in any
respect of any covenant, representation or warranty or any other obligation or agreement of Tuscan contained in the Business Combination
Agreement or in any Transaction Document, in each case, except to the extent shares of Tuscan’s Common Stock may not be so voted
or as to consent may not be so given by the Sponsor or its Affiliates under SEC’s Compliance and Disclosure Interpretation 166.01,
and (b) against any of the following actions or proposals (other than the transactions contemplated by the Business Combination Agreement
and the Transaction Documents): (A) a Tuscan Acquisition Proposal or any proposal in opposition to approval of the Business Combination
Agreement or in competition with or materially inconsistent with the Business Combination Agreement; and (B) (x) any change in the present
capitalization of Tuscan or any amendment of the Organizational Documents of Tuscan, including any redemption of any equity securities
in Tuscan (other than any redemption of equity securities in Tuscan held by Tuscan equityholders (other than the Sponsor and its transferees)
contemplated by the existing Organizational Documents of Tuscan); (y) any change in Tuscan’s corporate structure or business; or
(z) any other action or proposal involving Tuscan or any of its Subsidiaries that is intended, or would reasonably be expected, to prevent,
impede, interfere with, delay, postpone or adversely affect in any material respect the transactions contemplated by the Business Combination
Agreement or any Transaction Document or would reasonably be expected to result in any of the conditions to Tuscan’s obligations
under the Business Combination Agreement or any Transaction Document not being fulfilled.

 

(c) With respect to all Founder
Shares, Private Units and Private Warrants, from the date hereof until the earlier of the Closing and the termination of the Business
Combination Agreement in accordance with its terms, the Sponsor hereby unconditionally and irrevocably agrees that it shall not, without
the prior written consent of the Surf Entities, other than the transfer to any of Sponsor’s direct or indirect equityholders of
any Founder Shares, Private Units or Private Warrants (provided that such equityholder executes a joinder to this Agreement in a form
satisfactory to the Surf Entities agreeing to be bound by the provisions set forth herein), and other than transfers required by the
Business Combination Agreement, (i) sell, offer to sell, transfer, contract or agree to sell, hypothecate, pledge, grant any option to
purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish or increase a put equivalent position or
liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended,
and the rules and regulations of the Securities and Exchange Commission promulgated thereunder (any of the foregoing actions, a “Transfer”),
with respect to any equity securities of Tuscan or any securities convertible into, or exercisable, or exchangeable for, equity securities
of Tuscan owned by it, (ii) enter into any swap or other arrangement that Transfers to another, in whole or in part, any of the economic
consequences of ownership of any equity securities of Tuscan or any securities convertible into, or exercisable, or exchangeable for,
equity securities of Tuscan owned by it, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise,
or (iii) publicly announce any intention to effect any transaction specified in clauses (i) or (ii). For the avoidance of doubt, nothing
contained herein shall be deemed to limit, amend or alter the obligations of the Sponsor under the Lock-Up Agreement.

 

    3

     

    

 

(d) The Sponsor agrees that
it shall not, directly or indirectly, including through any Representative, take any action in violation of Section 6.05(b) of
the Business Combination Agreement.

 

(e) [Reserved]

 

(f) Without the prior written
consent of Surf Entities (such consent not to be reasonably withheld, conditioned or delayed), the Sponsor hereby agrees that it shall
not convert any Sponsor loans to Tuscan (“Working Capital Loans”), if any, into warrants to purchase equity interests
in Tuscan or Parentco. Instead, the Sponsor hereby agrees that any outstanding Working Capital Loans, if any, shall be repaid in cash.

 

(g) [Reserved]

 

(h) Sponsor hereby waives,
and agrees not to exercise or assert, if applicable, any appraisal rights, dissenter’s rights or similar rights (whether under
the laws of the State of Delaware or other applicable law) in connection with the First Merger.

 

(i)
Sponsor hereby authorizes Parentco, the Company and Tuscan to publish and disclose in any announcement or disclosure to the extent required
by law, rule or regulation by the SEC the Shareholder’s identity and ownership of the Shares and the nature of the Shareholder’s
obligations under this Agreement.

 

(j) Prior to Closing, Tuscan
shall not redeem or purchase, and Sponsor shall not Transfer or sell to Tuscan, any of Sponsor’s equity interests in Tuscan and
neither party shall contract or agree to any of the foregoing.

 

3. Vesting of Founder Shares.

 

(a)
Designations. Of all of the Founder Shares held by Sponsor at the First Effective Time, (i) 5% of the Founder Shares shall be
designated “First Vesting Founder Shares”, (ii) 5% of the Founder Shares shall be designated “Second Vesting Founder
Shares”, (iii) 5% of the Founder Shares shall be designated “Third Vesting Founder Shares” (iv) 5% of the Founder Shares
shall be designated “Fourth Vesting Founder Shares” and together with the First Vesting Founder Shares, the Second Vesting
Founder Shares and the Third Vesting Founder Shares, the “Vesting Founder Shares”, and (v) 50% of the Founder Shares shall
be designated “Immediately Vested Founder Shares”.

 

    4

     

    

 

(b) Immediately Vested
Founder Shares. From and after the First Effective Time, the Immediately Vested Founder Shares shall be deemed to have vested and
shall not be subject to forfeiture or surrender under this Agreement.

 

(c) Vesting Conditions.

 

(i) Upon the occurrence of
the First Earnout Achievement Date (including by virtue of any deemed occurrence of the First Earnout Achievement Date pursuant to Section
2.10(g) of the Business Combination Agreement) in accordance with Section 2.10( a) of the Business Combination Agreement (the
“First Vesting Time”), (i) all of the First Vesting Founder Shares shall be deemed to have vested and shall cease
to be subject to forfeiture or surrender under this Agreement and (ii) Parentco shall promptly (and in any event within one (1) business
day) pay to the holder(s) of such First Vesting Founder Shares all dividends and other distributions set aside with respect to such First
Vesting Founder Shares pursuant Section 3(d) below. If the First Earnout Achievement Date does not occur prior to the date that
is five (5) years after the Closing (the “First Expiration Time”), the First Vesting Founder Shares shall not vest
and shall be forfeited as provided in Section 3(e).

 

(ii)
Upon the occurrence of the Second Earnout Achievement Date (including by virtue of any deemed occurrence of the Second Earnout Achievement
Date pursuant to Section 2.10(g) of the Business Combination Agreement) in accordance with Section 2.10(b) of the Business
Combination Agreement (the “Second Vesting Time”), (i) all of the Second Vesting Founder Shares shall be deemed to
have vested and shall cease to be subject to forfeiture or surrender under this Agreement and (ii) Parentco shall promptly (and in any
event within one (1) business day) pay to the holder(s) of such Second Vesting Founder Shares all dividends and other distributions set
aside with respect to such Second Vesting Founder Shares pursuant Section 3(d) below. If the Second Earnout Achievement Date does
not occur prior to the date that is five (5) years after the Closing (the “Second Expiration Time”), the Second Vesting
Founder Shares shall not vest and shall be forfeited as provided in Section 3(e).

 

(iii)
Upon the occurrence of the Third Earnout Achievement Date (including by virtue of any deemed occurrence of the Third Earnout Achievement
Date pursuant to Section 2.10(g) of the Business Combination Agreement) in accordance with Section 2.10(c) of the Business
Combination Agreement (the “Third Vesting Time”), (i) all of the Third Vesting Founder Shares shall be deemed to have
vested and shall cease to be subject to forfeiture or surrender under this Agreement and (ii) Parentco shall promptly (and in any event
within one (1) business day) pay to the holder(s) of such Third Vesting Founder Shares all dividends and other distributions set aside
with respect to such Third Vesting Founder Shares pursuant Section 3(d) below. If the applicable Third Earnout Achievement Date
does not occur prior to the date that is five (5) years after the Closing (the “Third Expiration Time”), the Third
Vesting Founder Shares shall not vest and shall be forfeited as provided in Section 3(e).

 

    5

     

    

 

(iv) Upon the occurrence
of the Fourth Earnout Achievement Date (including by virtue of any deemed occurrence of the Fourth Earnout Achievement Date pursuant
to Section 2.10(g) of the Business Combination Agreement) in accordance with Section 2.10(d) of the Business Combination
Agreement (the “Fourth Vesting Time” and together with the First Vesting Time, the Second Vesting Time and the Third
Vesting Time, the “Vesting Times”), (i) all of the Fourth Vesting Founder Shares shall be deemed to have vested and
shall cease to be subject to forfeiture or surrender under this Agreement and (ii) Parentco shall promptly (and in any event within one
(1) business day) pay to the holder(s) of such Fourth Vesting Founder Shares all dividends and other distributions set aside with respect
to such Fourth Vesting Founder Shares pursuant to Section 3(d) below. If the Fourth Earnout Achievement Date does not occur prior
to the date that is five (5) years after the Closing (the “Fourth Expiration Time” and together with the First Expiration
Time, the Second Expiration Time and the Third Expiration Time, the “Expiration Times”), the Fourth Vesting Founder
Shares shall not vest and shall be forfeited as provided in Section 3(e).

 

(d) Rights Relating to
Vesting Founder Shares Prior to Vesting Time; Transfer Restrictions. Except as otherwise provided in this Section 3(d), prior
to the applicable Expiration Time, the registered holder of any Vesting Founder Shares shall be entitled to all of the rights of ownership
thereof, including the right to vote and receive dividends and other distributions in respect of the Vesting Founder Shares. Notwithstanding
the foregoing, (i) any dividends or other distributions payable to holders of Vesting Founder Shares as of a record date prior to the
earlier of the applicable Vesting Time and the applicable Expiration Time shall be set aside by Parentco and shall be paid to the holder
thereof upon the vesting of such Vesting Founder Shares at the applicable Vesting Time (if at all), other than dividends and other distributions
that are Adjustment Events, which shall be deemed paid upon the effectiveness of the adjustment therefor pursuant to and in accordance
with Section 3(f), and (ii) prior to the earlier of the applicable Vesting Time and the applicable Expiration Time, no holder
shall Transfer any Vesting Founder Shares unless the transferee is a Permitted Transferee (as defined in the Lock-Up Agreement), the
Transfer occurs in accordance with the Lock-Up Agreement and, as a condition to such Transfer and no later than substantially concurrently
therewith, such Permitted Transferee executes a joinder, in form and substantive reasonably acceptable to the Board of Directors of Parentco,
agreeing to be bound to this Agreement in respect of such Transferred securities as if an original party hereto, and any purported Transfer
in violation of this clause (ii) shall be null and void.

 

(e) Forfeiture of Vesting
Founder Shares Upon the Applicable Expiration Time. If the applicable Vesting Time does not occur prior to the applicable Expiration
Time, then on the first business day after such applicable Expiration Time, the Sponsor (or its Permitted Transferee(s), as may be applicable)
shall surrender to Parentco for no consideration all of the applicable Vesting Founder Shares. Upon the surrender of the applicable Vesting
Founder Shares, (i) none of the applicable Vesting Founder Shares shall be outstanding, (ii) Parentco shall take all necessary action
to retire such applicable Vesting Founder Shares, whereupon such shares shall cease to exist and (iii) Parentco shall cancel any certificates
or other instruments that theretofore represented any of the applicable Vesting Founder Shares (or make appropriate notations in its
books and records with respect to any such securities that are uncertificated and represented by book entry only).

 

    6

     

    

 

(f) Equitable Adjustment.
Prior to the earlier of the applicable Vesting Time and the applicable Expiration Time, if Parentco shall, at any time or from time to
time, effect a subdivision, stock split, stock or cash dividend, reorganization, combination, recapitalization or similar transaction
affecting the outstanding shares of Parentco Common Stock (an “Adjustment Event”), the applicable Vesting Founder
Shares shall be adjusted to reflect such Adjustment Event. Any adjustment under this paragraph shall become effective at the close of
business on the date any such Adjustment Event becomes effective (which shall be the “ex” date, if any, with respect to any
such event).

 

4. Allocated Sponsor Shares. The Sponsor hereby agrees that, at the Closing, the Sponsor shall, indefinitely and irrevocably,
forfeit and cease to have any right, title or interest in or to the Allocated Sponsor Shares. Parentco shall have the right to retain,
or distribute, issue or transfer, the Allocated Sponsor Shares in accordance with the terms and provisions of any Non-Redemption Transaction
and/or Financing Transaction. All Forfeited Sponsor Shares shall be held back and retained by Parentco and the Sponsor shall, indefinitely
and irrevocably, have no right, title or interest in or to any and all of the Forfeited Sponsor Shares at any time. The parties hereto
acknowledge and agree that the definition of “At-Risk Sponsor Shares” in the Business Combination Agreement shall not be
amended or modified without the prior written consent of the Sponsor. For purposes hereof, the term “Forfeited Sponsor Shares”
shall mean a number of Founder Shares equal to the At-Risk Sponsor Shares minus the Allocated Sponsor Shares.

 

5.
Termination. This Agreement shall terminate, and have no further force and effect, if the Business Combination Agreement is terminated
in accordance with its terms prior to the Closing under the Business Combination Agreement. Upon termination of this Agreement, no party
shall have any further obligations or liabilities under this Agreement; provided, however, such termination or expiration shall
not relieve any party from liability for any willful breach of this Agreement occurring prior to termination; provided, further,
that the provisions set forth in this Section 5 and Section 6 to 13 shall survive the termination of this Agreement.

 

6.
Governing Law. This Agreement shall be governed by, and construed in accordance with, the Laws of the State of Delaware applicable
to contracts executed in and to be performed in that state. All actions and proceedings arising out of or relating to this Agreement
shall be heard and determined exclusively in any Delaware Chancery Court, or if such court does not have subject matter jurisdiction,
any state or federal court located in the State of Delaware. The parties hereto hereby (a) submit to the exclusive jurisdiction of the
Delaware Chancery Court (or, if such court does not have subject matter jurisdiction, any state or federal court located in the State
of Delaware) for the purpose of any Action arising out of or relating to this Agreement brought by any party hereto, and (b) irrevocably
waive, and agree not to assert by way of motion, defense, or otherwise, in any such Action, any claim that it is not subject personally
to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the Action is
brought in an inconvenient forum, that the venue of the Action is improper, or that this Agreement or the Transactions may not be enforced
in or by any of the above-named courts.

 

    7

     

    

 

7.
Waiver of Jury Trial. Each of the parties hereto hereby waives to the fullest extent permitted by applicable Law any right it
may have to a trial by jury with respect to any litigation directly or indirectly arising out of, under or in connection with this Agreement.
Each of the parties hereto (a) certifies that no representative, agent or attorney of any other party has represented, expressly or otherwise,
that such other party would not, in the event of litigation, seek to enforce that foregoing waiver and (b) acknowledges that it and the
other parties hereto have been induced to enter into this Agreement among other things, the mutual waivers and certifications in this
Section 7.

 

8.
Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given (and
shall be deemed to have been duly given upon receipt) by delivery in person, by facsimile (having obtained electronic delivery confirmation
thereof), e-mail (having obtained electronic delivery confirmation thereof), or by registered or certified mail (postage prepaid, return
receipt requested) to the other Parties as follows:

 

if
to Tuscan or the Sponsor:

 

Tuscan
Holdings Corp. II

Tuscan Holdings Acquisition II, LLC

135
E. 57th St.

New York, NY 10023

Attention: Stephen Vogel

Email: Stephen@tuscanholdings.com

 

with
a copy (which shall not constitute effective notice) to:

 

Graubard
Miller

The Chrysler Building

405 Lexington Ave., 11th Fl.

New York, NY 10174

Attention: David Alan Miller / Jeffrey M. Gallant

Email: dmiller@graubard.com / jgallant@graubard.com

 

if
to the Surf Entities:

 

Surf
Air Mobility Inc.

12111 S. Crenshaw Blvd

Hawthorne, CA 90250

 

Attention:
General Counsel

Email: legalnotices@surfair.com

 

    8

     

    

 

with
a copy to:

 

O’Melveny
& Myers LLP

Two
Embarcadero Center

28th
Floor

San
Francisco, California 94111

 

		Attn:	C.
                                            Brophy Christensen, Jr.

                                            Noah Kornblith

 

		E-mail:	bchristensen@omm.com

                                            nkornblith@omm.com

 

or
to such other address as the Party to whom notice is given may have previously furnished to the others in writing in the manner set forth
above.

 

9.
Remedies. Except as otherwise expressly provided herein, any and all remedies provided herein will be deemed cumulative with and
not exclusive of any other remedy conferred hereby, or by law or equity upon such Party, and the exercise by a Party of any one remedy
will not preclude the exercise of any other remedy. The Parties agree that irreparable damage for which monetary damages, even if available,
would not be an adequate remedy, would occur in the event that the Parties do not perform their respective obligations under the provisions
of this Agreement (including failing to take such actions as are required of them hereunder to consummate the transactions contemplated
by this Agreement) in accordance with their specific terms or otherwise breach such provisions. It is accordingly agreed that the Parties
shall be entitled to an injunction or injunctions, specific performance and other equitable relief to prevent breaches of this Agreement
and to enforce specifically the terms and provisions of this Agreement, in each case without posting a bond or undertaking and without
proof of damages and this being in addition to any other remedy to which they are entitled at law or in equity. Each of the Parties agrees
that it will not oppose the granting of an injunction, specific performance and other equitable relief when expressly available pursuant
to the terms of this Agreement on the basis that the other parties have an adequate remedy at law or an award of specific performance
is not an appropriate remedy for any reason at law or equity.

 

10.
Counterparts; Electronic Signatures. This Agreement may be executed in one or more counterparts, each of which shall be deemed
to be an original, but all of which shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page
to this Agreement by facsimile, e-mail, or scanned pages shall be effective as delivery of a manually executed counterpart to this Agreement.

 

11.
Amendment. This Agreement may be amended or modified only by a written agreement executed and delivered by duly authorized officers
of the Parties. This Agreement may not be modified or amended except as provided in the immediately preceding sentence and any purported
amendment by any Party or Parties effected in a manner which does not comply with this Section 11 shall be void, ab initio.

 

    9

     

    

 

12. Assignment. This
Agreement shall not be assigned by any Party (whether by operation of law or otherwise) without the prior written consent of the other
Parties hereto. Any attempted assignment of this Agreement not in accordance with the terms of this Section 12 shall be void.

 

13. Severability.
Whenever possible, each provision of this Agreement will be interpreted in such a manner as to be effective and valid under applicable
Law, but if any term or other provision of this Agreement is held to be invalid, illegal or unenforceable under applicable Law, all other
provisions of this Agreement shall remain in full force and effect so long as the economic or legal substance of the transactions contemplated
hereby is not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision of this
Agreement is invalid, illegal or unenforceable under applicable Law, the Parties shall negotiate in good faith to modify this Agreement
so as to effect the original intent of the Parties as closely as possible in an acceptable manner in order that the transactions contemplated
hereby are consummated as originally contemplated to the greatest extent possible.

 

14. Miscellaneous.
Without further consideration, Sponsor shall use commercially reasonable efforts to execute and deliver or cause to be executed and delivered
such additional documents and instruments and take all such further action as may be reasonably necessary or desirable by Parentco to
consummate the transactions contemplated by this Agreement. Sponsor further agrees not to commence or participate in, and to take all
actions necessary to opt out of any class action with respect to, any action or claim, derivative or otherwise, against the Company,
Parentco, Tuscan, Merger Sub I, Merger Sub II or any of their respective Affiliates, or any of their respective successors and assigns,
relating to the negotiation, execution or delivery of this Agreement, the Business Combination Agreement (including the Merger Consideration)
or the consummation of the transactions contemplated hereby and thereby.

 

[signature
pages follow]

 

    10

     

    

 

IN
WITNESS WHEREOF, each of the Parties has caused this Agreement to be duly executed on its behalf as of the day and year first above
written.

 

	 	TUSCAN
    HOLDINGS ACQUISITION II, LLC
	 	 
		By:	/s/ Stephen Vogel
	 	Name:	Stephen
Vogel
	 	Title:	Managing Member
	 	 	 
	 	TUSCAN
    HOLDINGS CORP. II
	 	 	 
	 	By:	/s/ Stephen Vogel

	 	Name:  	Stephen
Vogel
	 	Title:	Chief
Executive Officer

 

     

     

    

 

	 	SURF
    AIR MOBILITY, INC.
	 	 	 
	 	By:	/s/ Sudhin Shahani
	 	Name:	Sudhin Shahani
	 	Title:	President, Chief Financial Officer, Treasurer and Secretary
	 	 	 
	 	SURF
    AIR GLOBAL LIMITED
	 	 	 
	 	By:	/s/ Sudhin Shahani 
	 	Name:  	Sudhin Shahani 
	 	Title:	Chief Executive Officer 
	 	 	 
	 	THCA
    MERGER SUB INC.
	 	 	 
	 	By:	/s/ Sudhin Shahani
	 	Name:	Sudhin Shahani 
	 	Title:	President, Chief Financial Officer, Treasurer and Secretary 
	 	 	 
	 	SAGL
    MERGER SUB LIMITED
	 	 	 
	 	By:	/s/ Sudhin Shahani 
	 	Name:	Sudhin Shahani 
	 	Title:	Director

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