Document:

Exhibit 10.15

 

OFFICE AGREEMENT

 

Certain information in this document,
marked by brackets, has been excluded pursuant to

Item 601(b)(10)(iv) of Regulation S-K under the Securities Act of 1933,
as amended,

because it is both (i) not material and (ii) would likely cause competitive harm to the

registrant if publicly
disclosed.

 

This Office Agreement (“Agreement”)
is made this ______________ day of ______________ (“Effective Date”) by and between Blade herein called “OCCUPANT”)
and White Plains Aviation Partners LLC d/b/a Million Air (herein called “LESSOR”).

 

WITNESSETH

 

In consideration of the rent and the mutual
covenants contained herein, and expressly subject to the terms, provisions and restrictions contained within LESSOR’s lease
agreement with Westchester County, LESSOR has let and demised and, by these presents, does hereby lease and demise unto OCCUPANT
and OCCUPANT does hereby rent and take from LESSOR the SPACE described in Section I below, TO HAVE AND TO HOLD the same for
the term herein provided, subject to all the following terms and provisions.

 

Section 1:     IDENTIFICATION,
DELIVERY, AND USE OF SPACE

 

LESSOR hereby authorizes OCCUPANT to use
the SPACE below at Westchester County Airport, County of Westchester, White Plains, New York (herein called “The Airport”).
The SPACE for the operation of OCCUPANT is as follows:

 

Office Space located in Hangar M Building, consisting of approximately
860 square feet.

 

The SPACE shall be delivered vacant and
any related storage costs shall be the sole responsibility of LESSOR.

 

OCCUPANT may decorate and furnish the SPACE
at the OCCUPANT’S sole expense provided that such decorations and furnishings are approved by LESSOR. Such approval shall
not be unreasonably withheld.

 

OCCUPANT shall be permitted to display
directional signage to the SPACE at or near the public entranceway of the Million Air facility.

 

Section 2:     COMMON
AREAS

 

In addition to the SPACE identified and
described herein above, OCCUPANT shall have access to and the right to use common areas within Hangar M Building, including hallways
and restrooms.

 

Ramp access to aircraft for OCCUPANT will
be a designated pathway through Hangar M. All passengers must be escorted to/from the aircraft.

 

Passenger vehicle valet parking is available
at the rate of $25.00 per vehicle, billed directly to the driver.

 

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Section 3:     TERM

 

The term of this Agreement shall be for
[***], beginning on the [***], and ending on the [***] (“Initial Term”). The Term of this Agreement shall not extend beyond the term of LESSORS lease Agreement
with Westchester County Airport.

 

Section 4:     RENT

 

OCCUPANT agrees to pay the amount of [***] per
month as rent, for the use of the identified Space, payable in advance on the first day of each month (“Rent”).
Not less than sixty (60) days before the expiration of the initial Term, LESSOR shall provide OCCUPANT with written notice of
the amount of Rent for the SPACE for the Renewal Term. The existence and amount of any increase in Rent in the Renewal Term
shall be solely within the discretion of LESSOR, at the then existing Market Rates for space of such quality. Any undisputed
Rent payment overdue for more than 30 days shall bear interest at the rate of one and one-half percent per month or the
highest legal rate available in the State of New York, whichever is higher. In the event OCCUPANT has not paid the Rent
within five (5) days of the due date, LESSOR reserves the right to charge a late fee of $35.00. In the event that LESSOR
is required to initiate any collection activities to collect any unpaid rent by the OCCUPANT, then the OCCUPANT shall pay all
of LESSOR expenses in connection therewith, including LESSOR’S reasonable attorney’s fees.

 

Section 5:     SECURITY
DEPOSIT

 

Upon execution of this Agreement, OCCUPANT
shall deposit with LESSOR a sum equal to a minimum of two (2) months’ Rent as a security deposit (“SECURITY”)
for the performance by OCCUPANT of the terms of this Agreement. LESSOR may use, apply, or retain the whole or any part of SECURITY
so deposited for the payment of any Rent or other sum as to which OCCUPANT is in default or which LESSOR may expend or may he required
to expend by reason of OCCUPANT’S default under this Agreement. In the event OCCUPANT has complied with all of the
terms of this Agreement, SECURITY shall be returned promptly to OCCUPANT after the date fixed as the end of this Agreement
and after return of possession of SPACE to LESSOR. LESSOR shall hold SECURITY in accordance with applicable law, and, if so
permitted by law, LESSOR shall have the right to commingle SECURITY with LESSOR’s funds, to invest that amount and to retain
any investment earnings as LESSOR’S sole property.

 

Section 6:     USE
OF PREMISES

 

The SPACE described herein is solely for
the purpose of passenger waiting areas and administrative duties. Under no circumstances shall OCCUPANT engage in aircraft heavy
maintenance, fueling or defueling, aircraft sales, or aircraft washing (except for spot cleaning), nor shall anyone other than
LESSOR perform such activities without the written permission of LESSOR. Such permission, if given, shall be on an exceptional
basis and shall not be construed to mean such activities shall be permitted to continue as a normal operating routine. The OCCUPANT
has reasonably necessary rights to access across LESSOR’S adjoining area.

 

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Section 7:     ANNUAL
FUEL PURCHASE PROGRAM

 

OCCUPANT operator agrees to purchase all fuel from LESSOR, while
at the Westchester County Airport.

 

If the Renewal Term is exercised by OCCUPANT,
eligibility to participate in the Annual Fuel Purchase Program will continue during the Renewal Tern at the then-existing rate
for valued OCCUPANTS.

 

OCCUPANT’s operator shall maintain
a valid credit card on file at all times during the term of the LEASE for the payment of all FBO services, including purchase of
fuel.

 

OCCUPANT shall maintain a valid credit
card on file at all times during the term of the LEASE for the payment of rents and other services.

 

Section 8:     LEGAL
COMPLIANCE

 

a.     Subject
to Section 6 above, OCCUPANT may not use or permit any part of the SPACE to be used for (1) any activity which is a nuisance
or is offensive, noisy, or dangerous; (2) any activity that interferes with any other tenant’s normal business operations
or Landlord’s management of the SPACE; (3) any activity that violates any applicable law, regulation, zoning ordinance,
governmental order, Landlord rule, or this Agreement.

 

b.     “Hazardous
Material” means any pollutant, toxic substance, hazardous waste, hazardous material, hazardous substance, solvent, or oil
as defined by any federal, state, or local environmental law, regulation, ordinance or rule existing as of the date of this
Lease or later enacted.

 

c.     OCCUPANT
shall not use, generate, store, or dispose of, or permit the use, generation, storage, or disposal of Hazardous Materials on or
about the Leased Premises or Building except in a manner and quantity necessary for the ordinary performance of OCCUPANT’S
business, and then in compliance with all applicable laws. If OCCUPANT breaches its obligations under this subparagraph, LESSOR
may immediately take any and all action reasonably appropriate to remedy the same, including taking all appropriate action to clean
up or remediate any contamination resulting from OCCUPANT’S use, generation, storage, or disposal of Hazardous Materials.
OCCUPANT SHALL DEFEND, INDEMNIFY, AND HOLD HARMLESS LESSOR AND ITS REPRESENTATIVES AND AGENTS FROM AND AGAINST ANY AND
ALL CLAIMS, DEMANDS, LIABILITIES, CAUSES OF ACTION, SUITS, JUDGMENTS, DAMAGES, AND EXPENSES (INCLUDING REASONABLE ATTORNEY’S
FEES AND COST OF CLEAN UP AND REMEDIATION) ARISING FROM OCCUPANT’S FAILURE TO COMPLY WITH THE PROVISIONS OF THIS SUBPARAGRAPH.
This indemnity provision shall survive the termination or expiration of this Agreement.

 

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d.     LESSOR
SHALL DEFEND, INDEMNIFY, AND HOLD HARMLESS OCCUPANT AND ITS REPRESENTATIVES AND AGENTS FROM AND AGAINST ANY AND ALL CLAIMS,
DEMANDS, LIABILITIES, CAUSES OF ACTION, SUITS, JUDGMENTS, DAMAGES, AND EXPENSES (INCLUDING REASONABLE ATTORNEY’S FEES AND
COST OF CLEAN UP AND REMEDIATION) ARISING FROM CONTAMINATION RESULTING FROM THE USE, GENERATION, STORAGE, OR DISPOSAL OF HAZARDOUS
MATERIALS IN THE SPACE THAT OCCURRED BEFORE THE EFFECTIVE DATE OF THIS AGREEMENT.

 

Section 9:     MAINTAINING
SPACE

 

During the Term, LESSOR shall maintain
the SPACE and appurtenances in good repair and tenantable condition, including, but not limited to, the maintenance and repair
of the plumbing, heating, electrical, air conditioning and ventilating equipment and fixtures to the end that all such facilities
are kept in good operative condition except in case of damage arising from a willful or negligent act of the OCCUPANT’S agent,
invitee, or employee.

 

Section 10:   RIGHTS
OF INGRESS AND EGRESS

 

To the extent permitted by the rules and
regulations of the Airport, OCCUPANT shall have at all times the right of ingress to and egress from the SPACE. To ensure this
right, LESSOR shall make all reasonable efforts to keep adjacent areas to the SPACE free and clear of all hazards and obstructions,
natural or manmade.

 

Section 11:   INSURANCE

 

OCCUPANT shall, at its sole cost and expense,
procure and maintain through the term of this Agreement a policy or policies of insurance insuring OCCUPANT against any and all
liability for injury to or death of a person or persons and for damage to or destruction of property occasioned by or arising out
of or in connection with the use or occupancy of the SPACE (including the contractual liability of OCCUPANT to indemnify LESSOR
contained herein), the limits of such policy or policies to be as follows:

 

a.      Workers
Compensation (statutory limits) and Employer’s Liability Insurance as required by law with a limit of $1,000,000.00 per
occurrence.

 

The limits and type of insurance required
above may be furnished through one or more primary and/or umbrella policies. OCCUPANT hereby agrees to maintain endorsements on
its liability insurance policies to provide coverage for the obligations assumed by OCCUPANT pursuant to this Agreement subject
to the indemnity obligations herein. OCCUPANT’S insurance policy or policies shall contain a provision whereby OCCUPANT’S
insurer waives any right of subrogation against LESSOR, its agents, employees and its affiliated or subsidiary companies subject
to the indemnity obligations herein. LESSOR, its agents, employees and its affiliated or subsidiary companies shall be named as
additional insured and shall provide that LESSOR must receive at least ten (10) days prior written notice of any cancellation
of OCCUPANT’S insurance coverage. Prior to commencement of this Agreement, OCCUPANT shall deliver to LESSOR certificates
or binders evidencing the existence of the insurance required herein, and renewals thereof as required shall be delivered to LESSOR
at least (30) days prior to expiration of the respective policy terms. If OCCUPANT shall fail to comply with the foregoing requirements
relating to insurance, LESSOR may obtain such insurance and OCCUPANT shall pay to LESSOR in demand as additional Rental the premium
cost thereof plus interest at the maximum contractual rate which could legally be charged in the event of a loan of such payment
to OCCUPANT, such interest to accrue continuously from the date of payment by LESSOR until repaid by OCCUPANT.

 

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For the avoidance of doubt, LESSOR does
not and will not procure or maintain any policy or policies of insurance that insure OCCUPANT’S contents in the SPACE. No
property coverage contained in any of LESSOR’S policies of insurance is or will be payable to OCCUPANT. The SPACE is provided
on an as-is basis, and OCCUPANT is solely responsible for procuring and maintaining insurance for OCCUPANT’S property contained
within the SPACE.

 

Section 12:   CASUALTY;
INDEMNITY; FORCE MAJEURE

 

In the event the SPACE or the means of
access thereto shall be damaged by fire or other casualty, both LESSOR and OCCUPANT shalt have the option to terminate this Agreement
upon written notice to the other party. Upon termination, OCCUPANT shall have no further obligation to pay any Rent under this
Agreement. If neither Party terminates this Agreement and LESSOR elects to repair the SPACE, LESSOR shall, at LESSOR’s expense,
repair the damage to the SPACE, excluding the damage to OCCUPANT’s work or property. Until the repairs to be performed by
LESSOR are substantially completed, the Rent shall he reduced in proportion to the area of the SPACE which OCCUPANT shall not have
reasonable access or which is unusable by OCCUPANT for the reasonable conduct of OCCUPANT’s normal business in the SPACE.
LESSOR and OCCUPANT mutually agree to release, indemnify and hold one another, and all their respective officers, directors, employees
and agents, harmless from and against any and all liabilities, damages, delays, losses, claims or judgments of any kind whatsoever,
including all costs, attorneys’ fees, and expenses incidental thereto, which may be suffered by, or charged to, one another
by reason of any loss or damage to any property or injury to or death of any person arising out of or by reason of any breach,
violation, negligent performance, or non-performance by one another’s servants, employees or !agents of any covenant, obligation
or condition of this Agreement or by any act or failure to act of those persons. Neither Party shall he liable to the other Party
for its failure to perform this Agreement or for any loss, injury, damage or delay of any nature whatsoever resulting therefrom
caused by any act of God, fire, flood, accident, strike, labor dispute, riot, insurrection, war or any other cause beyond that
Party’s control. Except as otherwise provided herein, LESSOR shall not be liable to OCCUPANT for any loss, damage, destruction,
theft, death or personal injury caused by or resulting from any act or omission of any co-licensee, transient or other occupant
of LESSOR’S leased Premises at the Airport or by any owner or occupant of adjoining or contiguous property.

 

Section 13:   SUBLEASE;
ASSIGNMENT

 

The SPACE hereby rented will not be subleased
to others by the OCCUPANT, nor is the Agreement assignable by OCCUPANT.

 

Section 14:   TERMINATION

 

a.     Unless
OCCUPANT validly exercises its option to renew this Agreement as set forth in Section 3 above, this Agreement shall terminate
at the conclusion of the Initial Term. OCCUPANT shall have no holdover rights in the SPACE past the expiration of the Initial Term
or Renewal Term as applicable. The OCCUPANT shall have its property removed from the SPACE on or before the expiration Initial
Term or Renewal Term, as applicable. Otherwise, LESSOR is hereby specifically authorized to remove the property without further
obligation to OCCUPANT and without liability for the property removed.

 

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b.     In
addition to OCCUPANT’s termination rights under Section 12, OCCUPANT may terminate this Agreement during the course
of the term if (i) LESSOR fails to perform its obligations under Sections 9 and 10 and does not fix such compliance failure
with ten (10) days after receipt of written notice of such compliance failure from OCCUPANT; (ii) the SPACE becomes unusable
by OCCUPANT for the reasonable conduct of OCCUPANT’s business for a period greater than thirty (30) days due to any reason,
including, without limitation, legislative or regulatory changes; or (iii) the Parties mutually agree to terminate this Agreement.

 

c.      In
addition, LESSOR may terminate this Agreement during the course of the term upon the occurrence of any of the following, each
of which shall constitute a material breach of the Agreement by OCCUPANT, and OCCUPANT’s failure to correct such compliance
failure within ten (10) days after receipt of written notice of such compliance failure from LESSOR:

 

		(i)	Rent is not paid by the 10th day of any month during
the Term.

 

		(ii)	Purchased fuel is not paid for at time of delivery by
LESSOR.

 

		(iii)	Projected fuel gallons are not met.

 

LESSOR shall provide
OCCUPANT with written notification of any termination under this Section 14b. OCCUPANT shall have three (3) days from
the date of such written notification to remove its property from the SPACE. Otherwise, LESSOR is hereby specifically authorized
to remove the property without further obligation to OCCUPANT and without liability for the property removed.

 

d.     Except
as otherwise provided in this Agreement, all fixtures, improvements, equipment and other property bought, installed, erected, or
placed in the SPACE by OCCUPANT shall remain the property of OCCUPANT. OCCUPANT shall have the right to remove these fixtures,
improvements, equipment and other property prior to the expiration or termination of this Agreement, however, OCCUPANT shall be
responsible for any damage caused by such removal. Title to fixtures, improvements, equipment and other property not removed as
of the expiration or termination of this agreement, shall vest in LESSOR.

 

Section 15:   LIMITATIONS

 

a.    The
OCCUPANT agrees to abide by and comply with all present and future rules, regulations and orders of LESSOR and the Airport Authority
affecting the control, operation, land use of the SPACE, and the Airport generally.

 

b.    The
OCCUPANT acknowledges that neither LESSOR nor any agent or representative of LESSOR has made any representation, covenant, or warranty
with respect to the condition of the SPACE or of the Airport.

 

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Section 16:   UTILITIES

 

a.     All
Utilities are included in the Rent.

 

b.     OCCUPANT
shall comply with all rules and regulations, which Westchester County, LESSOR, any governmental agency or authority, or any
utility company may establish for the use, proper functioning and protection of any such utility or service.

 

c.     Unless
directly caused by gross negligence of LESSOR, LESSOR shall not be liable under any circumstances for loss or injury to property
or persons occurring through, in connection with, or incidental to the furnishing of UTILITIES. LESSOR shall not be liable for
any stoppage or interruption of UTILITIES caused by third parties or by acts of God, nor for needed repairs that LESSOR is
unaware of, and no offset or deduction from rent shall occur by reason of such interruption.

 

Section 17:   GOVERNMENT
REQUIREMENTS AND TAXES

 

a.     The
OCCUPANT shall directly procure, at OCCUPANT’S expense, any and all licenses, permits or other authorizations from all governmental
authorities, if any, having jurisdiction over the OCCUPANT’S Operations at the Airport and Leasehold which may be necessary
for the OCCUPANT’S Operations thereat.

 

b.     The
OCCUPANT shall pay directly any and all taxes (including Real Estate Taxes) which may be assessed, levied, exacted or imposed directly
on OCCUPANT or indirectly on LESSOR by any government authority (including any local taxing authority) in conjunction with the
OCCUPANT’S operations and leasehold, during OCCUPANT’S lease term.

 

c.     The
OCCUPANT agrees to pay to the appropriate tax collection agency when due and payable all such taxes which may be levied and not
in dispute. Failure to pay any such levy that has an impact on LESSOR’S leasehold with Westchester County Airport and which
remains uncured, will be considered by LESSOR a default by OCCUPANT under this Agreement.

 

Section 18:   CONDUCT
BY OCCUPANT

 

a.     In
the event that the office facility, or any of the equipment affixed thereto or stored therein should be damaged as a result of
any act of OCCUPANT, or its agents, servants, employees, invitees or contractors, OCCUPANT shall, upon demand, pay to LESSOR the
cost of all required repairs, including structural repairs. LESSOR and OCCUPANT shall commit no act of waste and shall take good
care of the office facility and the equipment affixed thereto and stored therein and shall, at its sole cost and expense in the
use and occupancy of the office facility, conform to all laws, orders and regulations of all agencies having jurisdiction over
the premises.

 

b.     OCCUPANT
agrees that it shall not, without LESSOR’S prior written consent:

 

		(i)	make any permanent alterations, additions or improvements
in or about the office facility, or change locks or keys on any doors;

 

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		(ii)	do anything in or near the facility which will increase
the rate of fire insurance on the office facility;

 

		(iii)	permit the accumulation of waste or refuse matter in
or near the office facility except in containers provided therefor;

 

		(iv)	mortgage, pledge, assign or encumber this Agreement in
whole or in part; or

 

		(v)	sublease any portion of the SPACE or assign this Agreement.

 

Section 19:   NOTICE

 

All notices and other communications required
or permitted under this Agreement shall be in writing and deemed delivered: (i) one day after deposit with any overnight mail
service which maintains delivery records addressed as follows, or (ii) five days after being deposited into the United States
Mail, postage prepaid and addressed as follows or (iii) upon email, telecopy or facsimile transmission to the number set forth
below. In the event of telecopy or facsimile transmission the printed machine confirmation showing receipt at the numbers listed
below shall be deemed prima facie proof of receipt:

 

	To LESSOR:	To OCCUPANT:
	 	 
	White Plains Aviation Partners	Fly Blade, Inc.
	 	 
	136 Tower Road	499 East 34th Street
	 	 
	White Plains, NY 10604	New York, NY 10036
	 	 
	Attn:  Lauren Rones-Payne	Attn:  Melissa Tomkiel
	 	 
	lrones-payne@millionair.com	Email:  melissa@flyblade.com
	 	 
	Fax:  (866) 294-1673	Fax:  

 

Section 20:   SEVERABILITY
AND NON-WAIVER

 

If any part of this Agreement is for any
reason found to be unenforceable, all other parts remain enforceable unless the result materially prejudices either party. If either
Party fails to require the other to perform a term of this Agreement, that failure does not prevent the party from later enforcing
that term and all other terms. If either Party waives the other’s breach of a term, that waiver does not waive a later breach
of this Agreement.

 

Section 21:   DISCLAIMER
OF LIABILITY

 

OCCUPANT HERBY DISCLAIMS, AND LESSOR HEREBY
RELEASES OCCUPANT FROM ANY AND ALL LIABILITY WHETHER IN CONTRACT OR TORT (INCLUDING STRICT LIABILITY AND NEGLIGENCE), FOR ANY LOSS,
DAMAGE OR INJURY OF ANY NATURE WHATSOEVER SUSTAINED BY LESSOR, ITS EMPLOYEES, SUBLEASES, AGENTS OR INVITEES DURING THE TERM
OF THIS AGREEMENT, INCLUDING BUT NOT LIMITED TO LOSS, DAMAGE OR INJURY TO THE SPACE OR OTHER PROPERTY OF LESSOR UNLESS SUCH
LOSS, DAMAGE, OR INJURY IS CAUSED BY OCCUPANT’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT. THE PARTIES HEREBY AGREE THAT UNDER
NO CIRCUMSTANCES SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR INDIRECT, CONSEQUENTIAL, SPECIAL OR EXEMPLARY DAMAGES, WHETHER
IN CONTRACT OR TORT (INCLUDING STRICT LIABILITY AND NEGLIGENCE), SUCH AS, BUT NOT LIMITED TO, LOSS OF REVENUE OR ANTICIPATED PROFITS
OR OTHER DAMAGE RELATED TO THE LEASING OF THE HANGAR UNDER THIS AGREEMENT. IN NO EVENT WILL A PARTY’S LIABILITY TO THE OTHER
PARTY EXCEED THE PROCEEDS AVAILABLE UNDER ANY APPLICABLE INSURANCE POLICIES COVERING SUCH LOSS, DAMAGE, OR INJURY.

 

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Section 22:   GOVERNING
LAW; WAIVER OF JURY TRIAL; JURISDICTION; FORUM SELECTION

 

a.     This
Agreement shall be construed and interpreted in accordance with the laws of the State of New York.

 

b.     EACH
OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED
TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

c.     All
Parties hereto consent to the jurisdiction of New York state courts, as the exclusive venue for any dispute arising from or related
to this Agreement. All Parties waive and agree not to raise any defense that any such court is an improper or inconvenient forum,
or any other defense related either to the jurisdiction of New York state courts or to the venue selected in this Agreement.

 

Section 23:   INTEGRATION

 

This Agreement constitutes the entire agreement
between the Parties, and of its effective date supersedes all prior independent agreements between the Parties related to the leasing
of the SPACE. Any change or modification hereof must be in writing signed by both Parties.

 

Section 24:   SUCCESSORS
BOUND

 

This Agreement shall be binding and shall
inure to the benefit of the heirs, legal representatives, successors and assigns of the parties hereto, to the extent this Agreement
is assignable according to its terms.

 

Section 25:   NON-SOLICITATION
OF EMPLOYEES

 

OCCUPANT, on behalf of itself and its representatives,
agrees that it will not, during the Term of this Agreement and for one (1) year thereafter, for any reason whatsoever, directly
or indirectly, individually or on behalf of persons not now parties to this Agreement, aid or endeavor to solicit or induce any
of LESSOR’S employees to leave LESSOR in order to accept employment of any kind with any other person or entity, including
OCCUPANT.

 

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LESSOR, on behalf of itself and its representatives,
agrees that it will not, during the Term of this Agreement and for one (1) year thereafter, for any reason whatsoever, directly
or indirectly, individually or on behalf of persons not now parties to this Agreement, aid or endeavor to solicit or induce any
of OCCUPANT’S employees to leave OCCUPANT in order to accept employment of any kind with any other person or entity, including
LESSOR.

 

Section 26:   SUBORDINATION
OF AGREEMENT

 

This Agreement shall be subordinate to
the provisions of any existing or future agreement between the Airport and the United States government relative to the operation
or maintenance of the Airport, the execution of which has been or may be required as a condition precedent to the expenditure of
federal funds for the development of the Airport.

 

Section 27:   TIME
OF THE ESSENCE

 

Time is of the essence with respect to
all obligations under this Agreement.

 

Section 28:   INDEPENDENT
CONTRACTOR

 

Each Party shall be and act hereunder as
an independent contractor and not as partner, joint venture or agent of the other.

 

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IN WITNESS WHEREOF: the parties
hereto have set their hand the date first written above.

 

	For LESSOR:	 	For OCCUPANT:
	 	 	 
	By:	/s/ Lauren Rones-Payne	 	By:	/s/ Melissa Tomkiel
	 	 	 
	Print Name:	Lauren Rones-Payne	 	Print Name:	Melissa Tomkiel
	 	 	 
	Print Title:	General Manager	 	Print Title:	General Counsel
	 	 	 
	Date:	9/17/18	 	Date:	9/12/18

 

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LEASE AMENDMENT

 

Blade

 

FIRST AMENDMENT TO LEASE AGREEMENT

 

THIS AMENDMENT TO THE LEASE AGREEMENT (the
 “Amendment”) is made this 23rd day of December 2019, by and between White Plains Aviation Partners,
LLC, dba as Million Air (Lessor), whose address for the purposes of this Lease is 136 Tower Road, White Plains, NY 10604 and Blade, Inc.
(Tenant).

 

WITNESSETH:

 

WHEREAS, the Tenant having previously
executed a lease agreement (the “Lease”) pursuant to the terms of which the Tenant has leased lobby/lounge suites in
Hangar M.

 

WHEREAS, the Lessor and Tenant have
agreed to make certain modifications to the LEASE:

 

NOW THEREFORE, in consideration
of the mutual promises contained herein and for other good and valuable consideration, the receipt and adequacy of which is hereby
acknowledged, effective January 1, 2020, the parties agree as follows:

 

Tenant agrees to rent one (1) additional
office suite, measuring 90 sq. ft. in the Hangar M, second floor at the market rent of [***] per
month. The Term of this addendum lease will be until March 31, 2020.

 

All other terms of existing lease will
remain in effect.

 

	Lauren Rones-Payne	 
	Lessor’s Name	 
	 	 
	/s/ Lauren Rones-Payne	 
	Lessor’s Signature	 
	 	 
	1/7/2019	 
	Date	 
	 	 
	BLADE Urban Air Mobility
    Inc. – Melissa Tomkiel	 
	Tenant Name	 
	 	 
	/s/ Melissa Tomkiel	 
	Tenant Signature	 
	 	 
	1/7/2020	 
	Date	 

 

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OFFICE LEASE

 

Certain information in
this document, marked by brackets, has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K under the Securities
Act of 1933, as amended, because it is both (i) not material and (ii) would likely cause competitive harm to the registrant
if publicly disclosed.

 

This OFFICE
LEASE , (this "
Lease ") is
entered into November 6th, 2019 by and
between the TURNBERRY AIRPORT HOLDINGS,
LLC, a Florida limited liability company
(" LAND LORD"
), having its principal offices
at 1950 I Biscayne Boulevard
, Suite 400, Ave
ntu ra, Florida 33180
and BLADE URBAN AIR MOBILITY, INC.
d/b/a BLADE,
a Delaware Corporation
("TENANT" ), having its principal offices
located at 499 East
34th Street, New York
, NY 10016. For
purposes of this Lease ,
LANDLORD and TENANT
may herein , be
separately referred to as
a "Party"
and otherwise collectively as the “Parties"
.

 

In consideration
of the mutual covenants herein,
and for other valuable consideration, the
Parties hereby agree
as follows:

 

		l.	USE
OF SPACE

 

LANDLORD
hereby leases to TENANT the
office space (the "Space") as
identified on Exhibit "A"
attached hereto located at Opa Locka
Airport, 4200 NW l45th
Street, Opa Locka,
Florida 33054 (the
"Airport"). TENANT shall use
the Space for general office use only.

 

LANDLORD
is authorized to designate
common use areas of
the Hangar in which the
office is located (the
 “Hangar" ), including ,
but not limited to, rest
rooms, entry ways ,
hallways and vending
areas, as specified by
LANDLORD's
Property Manager or
designee at the Airport.

 

		2.	TERM

 

The
initial term (the
"Term"
) of this Lease shall
be for a [***] period commencing
on [***] (the
 "Commencement Date") and
ending on [***] (the
" Expiration Date"
). Provided TENANT
is not in default of
the Lease beyond any
applicable notice or
cure periods , the
Term shall automatically renew for a [***]
period thereafter ("Renewal
Term" ) unless
either LANDLORD or
TENANT notifies the other
in writing of its
intent to not renew, which
notice shall be
delivered not less than thirty
(30) days
prior to the end of the
initial Terrn or any Renewal
Term, as
applicable. The Minimum Rent payable
pursuant to the
Lease during the first
Renewal Term (commencing
on [***]
and ending on [***])
shall be as
follows: Minimum Rent for
[***] shall be [***] and Minimum Rent for
[***] shall be [***].
All other terms and conditions of the
Lease shall
remain the same.

 

		3.	RENT AND ADDITIONAL CHARGES

 

		3.1.	Pavment of Rent
and Additional Charges.

 

For
use of the Space,
TENANT agrees to pay LAND
LORD, from and after
the Commencement Date,
in advance , on or
before the first (1st) day
of each calendar month during the Term,
the following sum( s),
plus any and all Airport concession fees or charges and
any and all applicable sales or use taxes due
with respect to the
use of the Space
by TENANT:

 

	 	Monthly Office
Minimum Rent
[***]: 		 
	 	Suite l
11 (Hangar 3)	 	   [***]	per
                                         month non-inclusive of sales
                                         tax.
	 	Suite 108 (Hangar
3)	 	[***]	per
                                         month non-inclusive of sales
                                         tax.
	 	 	 	 
	 	Monthly Office
Minimum Rent
[***]:	   [***]	 
	 	Suite l
l l (Hangar 3)	 	[***]	per
                                         month non-inclusive of sales
                                         tax.
	 	Suite 108
(Hangar 3)	 	 	per
                                         month non-inclusive of sales tax.
	 	 	 	 
	 	Tenant
                                         Security Deposit Amount:

                               (the
                               "Security Deposit")
	[***]	

 

    1 

     

    

 

Any
sums owed by
TENANT to
LANDLORD pursuant to
this Lease in addition
to the Minimum Rent
are hereinafter referred to as
" Additional Rent"
and together with the
Minimum Rent , are
collectively
hereinafter referred to
as the "Rent".
Unless otherwise provided
to the contrary herein,
all items of Additional
Rent shall be payable
within thirty (30) days of demand
by LANDLO
RD.

 

If
the Commencement Date
should occur on a day
other than the first day of the
month or if the Expiration
Date is a day other
than the last day
of the month, TENANT
shall pay Minimum Rent
and all items
of Additional Rent prorated
based upon the number of rental
days in such fractional
month over the number
of days contained in such
month. The first installment
of Rent shall be
due concurrent with TENANT's execution and delivery of this Lease
to LANDLORD.

 

3.2.         Full
Payment. Rent shall be paid promptly when due, without notice or demand and without deduction, diminution, abatement, counterclaim
or setoffofany amount or for any reason whatsoever, to LANDLORD at the following address:

 

Turnberry Airport Holdings, LLC 

Attn: Vice President of Aviation

P.O. Box 541647

Opa Locka, Florida 33054

 

3.3.         Late
Payment. In the event any payment of Rent is not received within five (5) calendar days from the date payment is due,
LANDLORD reserves the right to impose a late payment fee of the greater of $100.00 or five percent (5%) of the unpaid amount which
late fee shall be deemed to constitute Additional Rent and shall be added to the amount due and owing to LANDLORD.

 

3.4.         Alteration
of Prevailing Land Rents And/Or Real Estate Taxes by the Airport. During the Term of this Lease, if the Airport or other local,
state, federal agency, or governmental entities having jurisdiction over LANDLORD's leasehold interest in the hangars at the Airport
promulgate, legislate, invoke, exercise or otherwise enact rules, regulations, or laws which result in the prevailing land rents,
real estate taxes, and/or concession fees applicable to LANDLORD's leasehold interest in the hangars at the Airport to be increased,
then LANDLORD, upon written notification of such occurrence to TENANT, reserves the right to increase TENANT's Minimum Rent by
a corresponding and proportionate amount as of the effective date of such increase applicable to LANDLORD.

 

		4.	SECURITY DEPOSIT

 

4.1.         Security
Deposit. TENANT shall concurrent with its execution and delivery of this Lease to LANDLORD deposit the Security Deposit in
the amount set forth in Section 3.1 as security for the full and faithful performance by TENANT of every provision, covenant,
and condition of this Lease. Should TENANT fail to perform any of the terms of this Lease including any failure to pay any of the
Rent when due, then LANDLORD at its option and without prejudice to any other remedy which LANDLORD may have on account thereof,
may appropriate and apply said entire Security Deposit or so much thereof as may be necessary to pay the unpaid Rent or to compensate
LANDLORD toward any loss, damage or expense sustained by LANDLORD resulting from such default on the part of TENANT; and in such
event TENANT shall within ten (10) days after demand by LANDLORD restore the Security Deposit to the original sum deposited.

 

4.2.         Return
of Security Deposit. Upon termination of this Lease, and subject to the provisions hereof, the balance of the security deposit
shall be returned to TENANT, provided that TENANT has discharged all of the obligations of this Lease, surrendered all possessions
of LANDLORD's property, i.e. security access badges and office keys and surrendered possession of the Space thoroughly clean and
in good condition; and provided further that TENANT has no outstanding obligations to LANDLORD at the time of the termination of
this Lease.

 

4.3.         Bankruptcy
Insolvency. If any bankruptcy, insolvency, reorganization or other creditor-debtor proceedings shall be instituted by or against
TENANT, or its successors or assigns the Security Deposit shall be deemed to be applied first to the payment of any Minimum Rent
and any item of Additional Rent due LANDLORD for all periods prior to the institution of such proceedings and the balance of, if
any, of such Security Deposit may be retained by LANDLORD in partial liquidation of LANDLORD's damages.

 

		5.	SERVICES PROVIDED AND PERMITTED

 

		5.1.	Intentionally omitted.

 

		5.2.	Intentionally omitted.

 

5.3.         Except
as provided in Section 5.5 below, subject to TENANT paying its Rent when due, LANDLORD shall provide for water, sewer and
electricity to the Space, if any. LANDLORD reserves the right to arrange for the separate metering of utilities to the Space, including
without limitation, charges for sewer usage, standby water charges for fire protection system, for consumption of domestic water,
electric and other utilities and office cleaning if TENANT's demand or consumption of such items exceed in LANDLORD's judgment
ordinary and usual consumption rates.

 

    2 

     

    

 

5.4.         No
failure to furnish or any stoppage of, the services referred to above resulting from any cause shall make LANDLORD liable
in any respect for any damages to TENANT or any person, property or business or be construed as an eviction of TENANT or entitle
TENANT to any abatement of Rent or other relief from any ofTENANT's obligations under this Lease unless such damages are caused
bythe gross negligent acts or omissions of LANDLORD or as a result of LANDLORD's willful misconduct.

 

TENANT shall be responsible for all of its
communications charges, including telephone (local and long distance) except that Landlord shall provide internet services for
a fee.

 

		6.	LIABILITY AND INDEMNITY

 

6.1.         TENANT
shall protect, indemnify, defend and hold harmless Miami-Dade Aviation Department ("MDAD"), its commissioners, officers
and employees and their directors, officers and employees, and LANDLORD, its members, directors, officers, shareholders and employees,
from and against all claims, liabilities, demands, suits, regulatory or enforcement actions (including reasonable attorneys' and
other professional fees), ("Claims") by any person or entity (to include governmental agencies), for any damage whether
direct, indirect, consequential, incidental or special including, but not limited to Claims for death or bodily injury or for property
damage including loss, damage or injury, arising out of any accident or other occurrence in, upon, at or from the Space, or occasioned
in whole or in part through the use and occupancy of the Space or any improvements therein or appurtenances thereto, including,
without limitation, the negligence of TENANT, or by any act or omission of TENANT or any subtenant or respective employees, agents,
contractors or invitees in, upon, at or from the Space or its appurtenances or any common areas (including, without limitation,
Airport runways or taxiways) and provided also that TENANT shall promptly notify LANDLORD of any claims or suits filed or threatened
against TENANT which could result in a Claim hereunder and shall furnish such assistance as LANDLORD may reasonably require.

 

6.2.         LANDLORD
shall indemnify and hold harmless TENANT from and against (a) all Claims arising from the performance of the services under
Section 5.2 above which is caused solely due to LANDLORD's negligence, and (b) all other Claims (excluding Claims arising
from the performance of the services under Section 5.2) arising solely due to LANDLORD's gross negligence or willful misconduct.

 

		7.	ENVIRONMENTAL RESPONSIBILITIES OF TENANT

 

7.1.         Environmental
Removal and Disposal. TENANT shall be responsible for the proper removal and disposal of all Hazardous and Regulated Substances,
as defined herein, generated by TENANT as a result ofTENANT's activities in, on and from the Space. Such removal and disposal shall
include, but not be limited to TENANT's manifesting such regulated substances under TENANT's assigned Environmental Protection
Agency (EPA) identification number and ensuring that removal of such regulated materials from the Space and LANDLORD's leasehold
is accomplished in accordance with Airport, local, state and federal guidelines. Additionally, environmental contamination, which
impacts LANDLORD's Airport leasehold as a result of TENANT's improper handling, disposal, release or leakage ofany regulated substances
while utilizing the Space, shall be the sole responsibility of TENANT. TENANT shall also be responsible for the safe and proper
removal of all regulated substances it generates in conjunction with its use and occupancy of the Space. For purposes of this provision,
 ·'Hazardous and Regulated Substances" shall mean any hazardous or toxic substances, materials or wastes, pollutants
or contaminants, as defined, listed or regulated now or in the future by any federal, state or local law, rule, regulation, ordinance,
statute or order or by common law decision, including, without limitation, petroleum products or by-products.

 

7.2.         Environmental
Indemnification. TENANT shall indemnify, defend and hold harmless LANDLORD (including LANDLORD's subsidiaries, affiliates and
parent company, as now or hereafter constituted), l'vIDAD and their respective officers, directors, shareholders, members, agents,
customers, tenants, contractors, subcontractors. invitees, guests and employees from and against any and all claims (including,
without limitation, third party claims form bodily injury or personal property damage, actions, administrative proceedings (including
informal proceedings)), judgments, damages, punitive damages, penalties, fines, taxes and assessments, liabilities (including sums
paid in settlement of claims), interest, impairments, losses, fees and expenses (including attorneys' fees and expenses incurred
in enforcing this provision or collecting any sums due hereunder), consultant and expert fees, together with all other costs and
expenses of any kind or nature, including any and all expenses of cleaning up or disposing of any such Hazardous and Regulated
Substances (collectively, "Environmental Damages"), that arise from the presence, suspected presence, release or suspected
or threatened release of any Hazardous and Regulated Substances arising from or caused by TENANT's use of the Space or TENANT's
failure to perform the covenants of this Article 7. TENANT shall have no responsibility for any environmental damages which
preceded TENANT's initial date of use of the Space or for the acts or omissions of any other tenant.

 

The obligations, covenants and agreements
of TENANT contained in this Article 7 shall survive the termination or expiration ofthis Lease.

 

		8.	Intentionally omitted.

 

		9.	MASTER LEASE COMPLIANCE WITH LAWS

 

9.1.         Lease
Subordination to Master Lease. It is expressly agreed and understood by TENANT that this Lease shall be subordinate and subject
to at all times to that certain Development Lease and Concession Agreement dated as of March 17, 1998, as amended (the "Master
Lease") including the rules and conditions set forth therein including increases in prevailing monthly rates. It is further
understood that the Master Lease is incorporated by reference into this Lease. In the event that any provisions of the Master Lease
conflict with the provisions of this Lease, the provisions of the Master Lease supersede those herein. In the event that MDAD's
regulations and/or rulings conflict with this Lease, the Master Lease, the regulations and/or rulings of MDAD shall supersede and
control in all instances.

 

    3 

     

    

 

9.2.         Compliance
With Laws. TENANT agrees to abide by (and shall further cause its officers, directors. contractors, subcontractors, agents,
employees and invitees to abide by and observe) all applicable laws, statutes, ordinances, orders, rules, regulations and requirements
of all federal, state and municipal governments and the appropriate agencies, officers, departments, boards and commissions thereof
and the board of underwriters and/or the insurance rating organization or similar organization performing the same or similar functions,
whether now or hereafter in force, applicable to the Space or any part thereof, as to the manner of use or occupancy of the Space,
and the usual and customary requirements of the carriers of all insurance policies maintained by LANDLORD on the Space without
prejudice to the provisions of the foregoing paragraph. TENANT shall comply with (and shall further cause its officers, directors,
contractors, subcontractors, agents, employees and invitees to comply with and observe) all of LANDLORD's rules and regulations
as now in effect, and as modified form time to time concerning the use, management, operation, safety and good order of the Space,
provided that such rules and regulations are not inconsistent with in any material respect the terms and provisions of this
Lease.

 

		10.	ASSIGNMENT AND SUBLETTING

 

10.1. Prohibition
Against Assignment or Transfer. TENANT shall not sublet, assign or transfer all or any part of the Space without LANDLORD's
consent which may be granted or withheld in LANDLORD's sole and absolute discretion. Consent by LANDLORD to any assignment, sublet
or transfer request shall not relieve TENANT from its obligation to obtain the express written consent of LANDLORD to any subsequent
assignment, sublet or transfer.

 

10.2. TENANT Not
Relieved of Obligations. Neither an assignment ofTENANT's interest in this Lease nor a subletting, occupancy or use of the
Space or any part thereofby any person or entity other than TENANT shall serve to diminish or relieve TENANT from any of its obligations
under this Lease.

 

		11.	CONDITION OF PREMISES, MAINTENANCE AND ALTERATIONS

 

11.1.            Condition
of Premises. TENANT agrees to accept the Space in its ·"as is'' condition as of the effective date of this Lease.
LANDLORD does not have any obligation to make any alterations or improvements on behalf of TENANT.

 

11.2.            TEN
ANT shall, at its own expense and at all times, keep the Space and all TENANT's fixtures, equipment and personal property which
are located in any part of the Space clean and free of debris.

 

11.3.            TENANT
shall, at its own expense (or at LANDLORD's option, LANDLORD shall, at TENANT's expense), repair, replace or rebuild pursuant to
plans approved by LANDLORD all or any part of the Space which may be damaged or destroyed by the negligent acts or omissions of
TENANT, its employees, customers, guests, invitees or other persons or entities doing business with TENANT at or within the Space
which obligation shall survive the expiration or earlier termination of this Lease.

 

11.-1-. TENANT shall
at its own expense provide routine cleaning, maintenance and non-structural repairs in the Office Space, if any. For any office
space constructed by TENANT pursuant to the provisions of Section 11.5, TENANT, at its own expense, shall be obligated to
take good care of such office space and be responsible for all maintenance and repairs thereto. LANDLORD shall be responsible for
all routine maintenance and non-structural repairs to the Space. Except as otherwise provided herein (i.e., TENANT's indemnity
obligations, casualty and condemnation) LANDLORD shall be responsible for structural repairs including the roof and mechanical
systems of the Space.

 

11.5. Alterations
and Installations. TENANT shall not make any alterations, improvements or additions of any kind or nature to any part of the
Space without the prior written consent of LANDLORD. which consent shall be in LANDLORD's sole discretion. LANDLORD may require
that any such improvements or additions be performed by LANDLORD at TENANT's expense. All alterations, improvements and additions
to the Space shall be made in accordance with plans and specifications prepared by TENANT and approved by LANDLORD which shall
be in compliance with all applicable building codes, governmental requirements, as well as all approvals and requirements of MDAD,
the Master Lease and Sub-Lease. Approval by LANDLORD of the plans and specifications shall not constitute the assumption of any
liability on the part of LANDLORD for their compliance or conformity with applicable building codes, governmental requirements,
the requirements ofMDAD and the requirements of this Lease, the Master Lease, the Sub-Lease or for their accuracy. Any and all
alterations, improvements and additions to the Space approved by LANDLORD shall be done in a good workmanlike manner using first-quality
materials. TENANT shall require its contractor and subcontractors to furnish LANDLORD Certificates of Insurance evidencing insurance
coverages with at least five million dollars ($5,000,000) in liability insurance together with such other insurance as may be required
in compliance with Article 12 below.

 

Notwithstanding any other provision in
this Lease, following and during construction, TENANT shall be responsible for all maintenance and repair of alterations, improvements
or additions constructed and permitted under this Section 11.5. At the time of termination of this Lease, all alterations,
improvements or additions constructed and permitted under this Section 11.5 shall. at LANDLORD's election, either become property
of LANDLORD or be removed on or before the Expiration Date by TENANT and the Space restored to the same condition as existed prior
to TENANT's alterations which restoration obligation shall survive the expiration or earlier termination of this Lease. LANDLORD's
reversionary interest to any and all such alterations, improvements or additions shall at all times be prior and superior to any
interest of any lender of TENANT, or of any other entity claiming any purchase money lien or other interest therein.

 

    4 

     

    

 

		11.6	Signs.

 

Except with the prior written approval of
LANDLORD and MDAD, TENANT shall not erect, maintain or display any advertising, signs or similar devices at or on the Space.

 

		11.7	Mechanics' Liens.

 

		(a)	THE lNTEREST OF LANDLORD IN AND TO THE SPACE SHALL NOT BE SUBJECT TO LIENS FOR IMPROVEMENTS MADE BY TENANT. TENANT shall pay
or cause to be paid all costs of labor. services, and materials supplied in the prosecution of any work done in the space by or
for TENANT nd TENANT shall keep the Space free and clear of all mechanics' liens and other liens arising out of any work done for
TENANT or persons claiming under TENANT. TENANT shall promptly notify LANDLORD of any claim or lien filed against the SPACE or
the commencement of any action affecting the title thereto. TENANT shall remove or discharge any mechanic's lien within thirty
(30) days of notice from LANDLORD.

 

		(b)	Landlord's Right to Cure. If TENANT fails to timely discharge any mechanics' lien, then LANDLORD, in addition to any
other rights or remedies it may have, may (but shall not be obligated to) discharge said lien by ( a) paying the claimant
an amount sufficient to settle and discharge the claim, (b) posting a release bond, or (c) taking such action as LANDLORD
shall deem appropriate, and TENANT shall pay to LANDLORD on demand all costs incurred by LANDLORD in settling and discharging such
lien (including reasonable attorney fees and bond premiums).

 

		(c)	Notice of Non-responsibility. LANDLORD or either Party's representatives shall have the right to go upon and inspect
the Space at all reasonable times, and shall have the right to post and keep posted thereon notices of non- responsibility or such
other notices that LANDLORD may deem to be proper for the protection, of LANDLORD's interest in the Space. TENANT shall give LANDLORD
at least ten (10) days advance written notice of its intention to commence any work that might result in a lien described
in this Section 11.7.

 

		12.	INSURANCE

 

12.1.
TENANT shall procure and continue in force from and after the earlier to occur of the date LANDLORD delivers possession of the
Space to TENANT or the date TENANT enters upon the Space, and throughout the Term the following insurance: (A) Commercial
General Liability Insurance on an Occurrence form with a limit of not less than One Million Dollars ($1,000,000) per occurrence
and Two Million Dollars ($2,000,000) annual aggregate, including, medical payments coverage with a limit of not less than Ten
Thousand Dollars($ I 0,000) peroccurrence; (8) Workers Compensation coverage as required by the State ofFlorida; (C) Employers
Liability coverage with a limit of not less than One Million Dollars ($1,000,000) per accident and per employee; (D) Personal/Advertising
Injury coverage with a limit of not less than One Million Dollars ($1,000,000); and (E) Fire Legal Liability coverage with
a policy limit of not less than Five Hundred Thousand Dollars ($500,000) per occurrence. All of the foregoing insurance required
to be maintained by TENANT or its affiliates, contractors and agents hereunder shall name LANDLORD, its directors, officers, members,
shareholders and employees and MOAD, its commissioners, directors and employees as additional insureds. All insurance policies
procured by TENANT shall be issued by good and solvent insurance companies authorized to do business in the State ofFlorida and
having a rating of A by the AM Best Company or its equivalent. Further. TENANT shall not do or permit anything to be done, in
or about the Space that would invalidate or conflict with any and all insurance policies covering the Airport or any part thereof.
Limits of liability coverage required hereunder in no way limits TENANT's liability for negligent acts or omissions. In addition,
all of the aforesaid policies shall contain wording or be endorsed so that they (i) are primary and non-contributory to any
other insurance that may be in force in relation to a loss covered by above insurance (ii) may not be canceled or amended
during the Term with respect to LANDLORD, except upon thirty (30) days' written notice by registered mail to LANDLORD and (iii) shall
contain a Waiver of Subrogation in favor of LANDLORD.

 

12.2.  Certificates
of Insurance. LANDLORD shall be furnished with duly executed duplicate original certificate(s) of all required insurance
on or before the date TENANT first occupies the Space and, upon renewals of such policies, no less than thirty (30) days prior
to the expiration of the terms of such coverage. The insurance policies of TENANT shall further provide at least thirty (30) days'
advance written notice to LANDLORD and TENANT of any material changes, cancellation, non-renewal or changes adverse to the interests
of LANDLORD or TENANT.

 

12.3.  It
is expressly understood by TENANT that the receipt of any required insurance certificate(s) by LANDLORD hereunder does not
constitute agreement that the insurance requirements of this Lease have been fully met or that the insurance policies indicated
on the certificate are in compliance with all requirements of this Lease. Further, the failure of LANDLORD to obtain certificates
or other evidence of insurance from the TENANT shall not be deemed a waiver by LANDLORD of TENANT's obligation to obtain any and
all such insurance required hereunder.

 

12.4. TENANT and LANDLORD
release each other and waive any right ofrecovery against each other for loss or damage to their respective property, which occurs
on or about the Space (whether due to the negligence of either Party, their agents, employees, officers. contractors, licensees.
invitees or otherwise), to the extent that such loss or damage is reimbursed by insurance proceeds and does not otherwise void
or invalidate any required insurance coverage under this Lease. TENANT agrees that all policies of insurance obtained by it in
connection with the Space or as required hereunder shall contain appropriate waiver of subrogation clauses.

 

    5 

     

    

 

		13.	DESTRUCTION OF SPACE

 

TENANT shall give prompt
notice to LANDLORD in case of any fire or other damage or casualty to the Space. If (a) the Space shall be damaged to the
extent of twenty percent (20%) or more of the gross floor area thereof; or ( b) the Hangar shall be damaged to the extent of twenty
percent (20%) or more of its aggregate gross floor area; or (c) the Space or any portion of the Hangar shall be damaged as
a result of a risk which is not covered by LANDLORD's insurance; or (d) any mortgagee of the Sub-Lease or any portion thereof
shall require that LANDLORD's insurance proceeds be used for anything other than repairing, replacing and rebuilding such damage.
then in any such event LANDLORD may terminate this Lease by notice given within ninety (90) days after such event and upon the
date specified in such notice, which shall not be less than thirty (30) days nor more than sixty (60) days after the giving of
said notice, this Lease shall terminate and come to an end, and TENANT shall vacate and surrender the Space to LANDLORD.

 

		14.	OBLIGATION TO REBUILD

 

If all or any portion
of the Space is damaged by fire or other casualty and this Lease is not terminated in accordance with the provisions of Section 13
above, then LANDLORD shall, using the proceeds of LANDLORD's insurance and to the extent applicable, proceeds from insurance
policies provided for by Section 12 hereof to be paid to LANDLORD,
repair or rebuild the Space or such portion thereof to its condition immediately prior to such occurrence to the extent the cost
therefor is fully funded by insurance proceeds. In no event shall LANDLORD be obligated to repair or replace TENANT's movable trade
fixtures or equipment.

 

		15.	RENT ABATEMENT

 

In the event of any
repair or rebuilding pursuant to the provisions of Article 14 hereof, if LANDLORD is unable to relocate TENANT to another
location in the Airport, then there shall be abated an equitable portion of the Rent during the existence of such damage as reasonably
determined by LANDLORD, unless such damage was caused by TENANT, its employees, agents, contractors, guests or invitees in which
case there will be no abatement of Rent.

 

		16.	DISCLAIMER OF LIABILITY

 

The Parties hereby
agree that under no circumstances shall LANDLORD be liable to the TENANT for indirect, incidental. consequential. special, or exemplary
damages, whether in contract or tort (including strict liability and negligence), such as, but not limited to, loss of revenue,
diminution or loss of value, loss of use, loss of anticipated profits or the costs associated with TENANT's property, or any claims
due to death or bodily injury.

 

		17.	FORCE MAJEURE

 

Neither LANDLORD nor
TENANT shall be liable for their failure to perform under this Lease (or for any loss, injury, damage or delay of any nature whatsoever
resulting therefrom) caused by any act of God. act of nature, fire, flood, wind storm, strike, labor dispute, riot, insurrection.
war or any other cause beyond either Party's control other than for TENANT's continued obligation to timely pay all Rent when due
subject to Article 15 above.

 

		18.	DEFAULT

 

		18.1.	Event of Default Defined.
An ·'Event of Default" shall occur upon the happening of any one or more of the following circumstances:

 

		(a)	The Minimum Rent payable under this Lease (including any Additional Rent) or any sum of money due hereunder is not paid when
due within ten ( 10) days after notice by LANDLORD provided that
LANDLORD shall not be required to provide more than two (2) such notices in any twelve (12) months period; it being understood
and agreed that upon the third such failure to pay Rent when due in any twelve (12)
month period, the same shall be an immediate Event of Default.

 

		(b)	TENANT, any successor to TENANT or any guarantor of this Lease files any petition for debt reliefunder any section or chapter
of the national or federal bankruptcy code or any other applicable federal or state bankruptcy. insolvency or other similar act.

 

		(c)	Any petition is filed against TENANT or any guarantor under any section or chapter of the national or federal bankruptcy code
or any other applicable federal or state bankruptcy. insolvency or other similar act, and such petition is not dismissed within
sixty (60) days after the date of such filing.

 

		(d)	TENANT, any successor to TENANT or any guarantor of this Lease shall become insolvent or transfer property to defraud creditors
or there shall be a material adverse change in the net worth or credit rating of TENANT or such guarantor.

 

		(e)	TENANT or any guarantor of this Lease makes material misrepresentations to LANDLORD prior to or contemporaneously with the
execution of this Lease.

 

		(t)	TENANT or any guarantor
of this Lease shall make an assignment for the benefit of creditors.

 

    6 

     

    

 

		(g)	A receiver is appointed for any of the assets of TENANT or any guarantor of the Lease, and such receiver is not removed within
sixty (60) days of TENANT's receipt of notice from LANDLORD to obtain such removal.

 

		(h)	A lien, mortgage, or other encumbrance is filed against the Space. Hangar or Airport, or LANDLORD's estate therein, or a lien
is filed by reason of any work, labor, services or materials performed or furnished, or alleged to have been performed or furnished,
to TENANT or anyone holding the Space by, through or under TENANT, and TENANT fails to cause the same to be vacated and canceled
of record in accordance with the provisions of this Lease, within thirty (30) days after notice thereof
by LANDLORD.

 

		(i)	TENANT fails to observe, perform and keep each and every one of the covenants, agreements, provisions, stipulations and conditions
contained in this Lease to be observed, performed and kept by TENANT, including, without limitation. any applicable "Rules and
Regulations" now or hereinafter enacted by LANDLORD, TEN ANT persists in such failure for twenty (20) days after the date
of notice by LANDLORD requiring that TENANT correct such failure; provided, that in the event any such failure is not reasonably
susceptible of cure within such twenty (20)-day period, TENANT shall have a reasonable time to cure such failure, provided TENANT
commences cure as soon as is reasonably possible and prosecutes such cure diligently to completion but in no event, in excess of
ninety (90) days.

 

18.2        Remedies.
Upon the occurrence of an Event of Default by Tenant, in addition to any remedies available to Landlord pursuant to Florida law,
Landlord shall have the option to do and perform any one or more of the following:

 

		(a)	LANDLORD may, with or without terminating this Lease, terminate TENANT's right of possession of the Space, in which event TENANT
shall immediately surrender the Space to LANDLORD. If TENANT shall fail to do so, LANDLORD may, without notice and prejudice to
any other remedy available, enter and take possession of the Space and remove TENANT, or anyone occupying the Space, and its effects
without being liable to prosecution or any claim for damages. Further, LANDLORD may recover possession of the Space, with or without
terminating this Lease, at LANDLORD's option, in the manner prescribed by any applicable statute, including, without limitation,
statutes relating to summary process. Any demand for the Rent, reentry for covenants not kept, and any and all notices to quit,
including, without limitation, any notice required by the provisions of applicable State or other statutes, or other formalities
of any nature, to which TENANT may be entitled, are hereby specifically waived by TENANT to the greatest extent permissible under
applicable law. TENANT"s obligation to pay Rent is independent of any covenant, duty or obligation of LANDLORD under this
Lease.

 

		(b)	LANDLORD may correct such Event of Default, including without limitation, entering into the Space, and doing whatever TENANT
is obligated to do under the terms of this Lease: and TENANT shall reimburse LANDLORD. upon demand, for all costs and expenses
incurred by LANDLORD in curing such default, plus ten percent (I 0%) of such cost to cover overhead, plus interest at eighteen
percent (18%), and LAND LORD shall not be liable for any damages resulting to TENANT from such action. No such action taken by
LANDLORD under this Section 18.2(b) shall relieve TENANT from any of its obligations under this Lease or from any consequences
or liabilities arising from the failure to perform such obligations.

 

		(c)	After termination ofTENANT's right of possession of the Space, LANDLORD may enter upon and take possession of the Space as
agent of TENANT without terminating this Lease (termination of this Lease shall only occur by written notice of such termination
from LANDLORD to TENANT) and without being liable to prosecution or any claim for damages. LANDLORD may elect to relet the Space,
but shall have no obligation to do so. In the event that LANDLORD elects to relet the Space, LANDLORD may make any reasonable alterations
or refurbish the Space, LANDLORD may relet all or any portion of the Space, alone or in conjunction with other portions of the
Hangar. for a term longer or shorter than the Term of this Lease, at a rental rate other than that provided in this Lease, and
upon such other terms (including the granting of concessions) as LANDLORD solely determines to be acceptable. If LANDLORD elects
to reenter and relet all or any portion of the Space, LANDLORD may apply the rent so collected in such order as LANDLORD may elect,
in LANDLORD's sole discretion, including, without limitation, as follows (ifso elected by LANDLORD):

 

		( I)	first, to any amount due
hereunder other than Minimum Rent and Additional Rent;

 

		(2)	second, to the payment
of costs and expenses of such reletting;

 

		(3)	third, to the payment of
Minimum Rent and Additional Rent;

 

		(4)	fourth, the residue shall
be held and applied to future Rent due hereunder.

 

No such reentry or taking
possession of the Space shall be construed as an election on LANDLORD's part to terminate this Lease unless a written notice
of such intention is given to TENANT. LANDLORD, however. shall have no duty to relet the Space, and LANDLORD’s failure
to do so shall not release TENANT's liability for Rent or damages. TENANT shall remain fully liable to LANDLORD for the
deficiency between any rent collected as a result of reletting and the Rent and other sums that are owed from TENANT to
LANDLORD under this Lease. LANDLORD shall have the right to rent any other available space in the Airport before reletting or
attempting to relet the Space.

 

    7 

     

    

 

		(d)	In the event of termination of this Lease. TENANT shall be responsible to LANDLORD for (i) all payments due under this
Lease prior to the date of termination; (ii) all costs incurred by LANDLORD in connection with such termination; and (iii) accelerated
Rent in an amount equal to the Rent for the balance of the Term. Such amount shall be paid by TENANT to LANDLORD immediately upon
demand by LANDLORD and shall constitute liquidated damages and not a penalty or forfeiture (TENANT and LANDLORD agree that the
actual damages will be difficult or impossible to ascertain in such event and that the amount described above is an agreed upon
reasonable. good faith estimate thereof). If LANDLORD elects to terminate this Lease, TENANT's liability to LANDLORD for such damages
shall survive such termination.

 

		(e)	TENANT specifically acknowledges and agrees that LANDLORD shall have the right to continue to collect Rent after any termination
(whether such termination occurs through eviction proceedings or as a result of some other early termination pursuant to this Lease)
for the remainder of the Term, less any amounts collected by LANDLORD from the reletting of the Space, but in no event shall TENANT
be entitled to receive any excess of any such rents collected over the Rent.

 

		( f)	In addition to all other sums that are owed by TENANT to LANDLORD under this Lease, upon such Event
of Default, TENANT shall become liable for any costs incurred by LANDLORD under this Lease for the completion of any improvements
to the Space, and any real estate commissions paid by LANDLORD under this Lease.

 

18.3. No Exclusive
Remedy. Any rights and remedies reserved by, or granted to LANDLORD under this Lease, at law or in equity are distinct, separate,
and cumulative, and the exercise of any one of them shall not be deemed to preclude, waive, or prejudice LANDLORD's right to exercise
any or all others.

 

		19.	TAXES, ASSESSMENTS, FEES AND INTEREST

 

TEN ANT shall be solely
responsible for the payment of all taxes, assessments. license fees or other charges that may be levied or assessed during the
Term upon or against any personal property or equipment located within or upon the Space which is owned by, leased to or in the
care, custody and control of TENANT. In addition to all other costs and expenses payable under this Lease, TENANT shall pay interest
on any past due amount of Rent to LANDLORD from the date due until paid in full at an interest rate of twelve percent ( 12%) per
annum.

 

		20.	GOVERNING LAW/PREVAILING PARTY

 

This Lease
shall be construed, interpreted and enforced in accordance with the laws of the State of Florida. Venue for any action brought
under this Lease shall be in Miami-Dade County, Florida. In the event of any litigation between the parties to this Lease, the
prevailing party shall be entitled to reasonable attorney's fees and court costs through all appellate levels.

 

		21.	RELOCATION

 

At any time or from
time to time during the Term or any renewal thereof LANDLORD shall have the unrestricted right to relocate TENANT from the Office
Space to any other reasonably comparable space in the Airport. LANDLORD shall provide TENANT at least sixty (60) days' prior written
notice of any such relocation and LANDLORD shall reimburse TENANT for all reasonable expenses incurred by TENANT, if any, in connection
with such relocation including moving expenses, telecommunications and data cabling and hookup. Following any such relocation,
LANDLORD and TENANT shall enter into an amendment to this Lease to reflect that the Space consists of such relocation space. All
other terms and conditions of this Lease shall remain unchanged following such relocation.

 

		22.	RIGHTS NOT WAIVED

 

No failure by LANDLORD
to insist upon the strict performance of any term, covenant agreement, provision, condition or limitation of this Lease or to exercise
any right or remedy consequent upon a breach thereof. and no acceptance by LANDLORD of full or partial Rent during the continuance
of any such breach or application of the security deposit in light of any breach, shall constitute a waiver of any such breach
or of any such term, covenant, agreement provision, condition. limitation, right or remedy. No term, covenant, agreement, provision,
condition, limitation of this Lease to be kept, observed or performed by TENANT, and no breach thereof shall be waived, altered
or modified except by a written instrument executed by LANDLORD. No waiver of any breach shall affect or alter this Lease, but
each and every term, covenant, agreement, provision, condition and limitation of this Lease shall continue in full force and effect
with respect to any other then existing or subsequent breach thereof.

 

    8 

     

    

 

		23.	NOTICES

 

Any notice given by
one Party to the other in connection with this Lease shall be in writing and shall be sent either by: (i) recognized overnight
courier; or (ii) U.S. certified mail. return receipt requested, postage prepaid; or (iii) via hand delivery during business
hours to the following addresses:

 

		(1)	If to LANDLORD, addressed to:

                                                                                Turnberry Airport Holdings, LLC

                                                                                Attn: Vice President of Aviation

P.O. Box 541647

Opa Locka, Florida 33054

 

		(2)	If to TENANT, addressed to:

                                                                                Blade Urban Air Mobility, Inc.

                                                                                499 East 34th Street

New York. NY 10016

 

Notice shall be deemed
to have been given on (a) the next business day if delivered by overnight courier; (b) three (3) days after deposit
in U.S. mail; or (c) on the date of delivery if personally delivered.

 

		24.	INTEGRATION

 

It is mutually agreed
and understood that this Lease (and any exhibits, amendments and addendums duly entered into between the Parties) contains the
final and entire agreement between the Parties. The Parties shall not be bound by any terms, statements, conditions or representations,
oral or written, express or implied, not herein contained. Any change or modification to this Lease must be in writing, signed
by both Parties.

 

		25.	SUCCESSORS BOUND

 

Except as otherwise
provided herein, this Lease shall be binding upon, and shall inure to the benefit of the Parties hereto, and each of their respective
heirs, legal representatives, successors and assigns.

 

		26.	PREMISES SECURITY

 

The Space is located
within the boundaries of the Airport's perimeter fence and situated within the Airport Operations Area. TENANT represents its activities
shall adhere at all times to the prevailing Airport and Federal Aviation Administration security regulations set forth within Federal
Aviation Regulation Part 107 and 108 and any and all Transportation Security Agency regulations.

 

		27.	TIME IS OF THE ESSENCE

 

Time is of the essence in the performance of all TENANT's
obligations under this Lease.

 

		28.	SEVERABILITY OF PROVISIONS

 

If any provision of
this Lease shall be invalid, illegal, or unenforceable, the validity, legality and enforceability of the remaining provisions shall
not be affected thereby.

 

		29.	BASIS OF BARGAIN

 

TENANT acknowledges that it has inspected the Space
and accepts the same in the "As Is", ·'Where Is" condition.

 

		30.	SUBORDINATION; ATTORNMENT; ESTOPPEL

 

30.1         Subordination
to Mortgage. This Lease and all of TENANT's rights hereunder are and shall be subject and fully subordinate to any mortgage
on any or all of the Space. The foregoing shall be self operative without the need for the execution of any additional documentation,
however, within ten (10) days after the receipt of a request from LANDLORD or any mortgagee, TENANT shall confirm such subordination
by executing a recordable subordination agreement in form and content satisfactory to LANDLORD and LANDLORD's mortgagee. TENANT
acknowledges that any mortgagee has the right to subordinate at any time its mortgage to this Lease and the leasehold estate created
thereby, without TENANT's consent. TENANT shall, within ten (10) days after written request therefor, execute and deliver
such documents as are requested by the mortgagee to confirm such subordination.

 

30.2         Attornment.
If LANDLORD sells, transfers, or conveys its interest in the Space, Sub-Lease or this Lease, or if the same is foreclosed judicially
or nonjudicially, or otherwise acquired, by a mortgagee, upon the request and at the sole and absolute election of LANDLORD or
LANDLORD's successor. TENANT shall attorn to said successor. provided said successor accepts the Space subject to this Lease. TENANT
shall, upon request of LANDLORD or any mortgagee, execute an attornment agreement confirming the same, in form and substance acceptable
to LANDLORD or LANDLORD's successor and LANDLORD'S mortgagee.

 

    9 

     

    

 

30.3         Estoppel
Certificate. Within ten (10) days after request from LANDLORD as to which date time shall be deemed of the essence, TENANT
shall execute and deliver to LANDLORD an estoppel certificate in the form submitted by LANDLORD or any current or proposed mortgagee,
lender or purchaser of the Sub-Lease or any interest therein, or a questionnaire as may be requested annually by Miami-Dade County,
Florida ("County") in connection with the number of employees employed by TENANT and the average salary paid and such
other things which the County may require with appropriate facts concerning the status of this Lease and TENANT's occupancy completed
by LANDLORD, and with any exceptions thereto noted in writing by TENANT. TENANT's failure to execute and deliver the estoppel certificate
within said ten (10) day period shall be deemed to make conclusive and binding upon TENANT in favor of LANDLORD, and any existing
and/or potential mortgagee or transferee the statements contained in such estoppel certificate without exception.

 

		31.	TENANT'S REPRESENTATIONS

 

TENANT represents that it is fully authorized to enter
into this Lease.

 

TENANT covenants and
agrees that at no time during the Term of the Lease shall it or any of TENANT's agents, employees, contractors, subcontractors,
invitees, officers or directors be authorized to store, maintain, or operate any motor vehicle, recreational vehicle, or any other
motor vehicle as defined by Florida Statutes in or about the Space unless authorized by LANDLORD or its designee in writing.

 

		32.	NO RECORDING/CONFIDENTIALITY

 

TENANT may not record
this Lease, or any memorandum thereof, in the public records without the express written consent of LANDLORD. TENANT shall keep
the terms of this Lease in strict confidence and shall not disclose its terms to any third party except on a need to know basis
to its attorneys, accountants or insurance carriers without the express written consent of LANDLORD.

 

		33.	NON-SOLICITATION

 

TENANT agrees that
it will not directly or indirectly employ, solicit for employment or attempt to employ or solicit for employment, or assist any
other person or entity in the employing, soliciting for employment or attempting to employ or solicit for employment, either on
a full-time, part-time or consulting basis, any personnel at the Airport employed by LANDLORD or its affiliates.

 

		34.	COUNTERPARTS

 

This Lease may be executed in counterparts
( including by facsimile or electronic signature) which when taken together shall constitute one original Lease.

 

[Signature Page Follows[

 

    10 

     

    

 

IN
WITNESS WHEREOF ,
the Parties have executed this
Lease as of the day
and year
first above
written.

 

	WITNESSES	 	LANDLORD

 

	/s/ David Shargoredsky	 	TURNBERRY AIRPORT HOLDINGS, LLC

 

	Print Name: David Shargoredsky	 	a Florida limited liability company
	 	 	 
	 	 	By: 	/s/ Bobby D. Courtney
	 	 	Bobby D. Courtney
	 	 	Vice President of Aviation

 

	Print Name	 	 	 

 

	WITNESSES:	 	TENANT:
	 	 	 
	/s/
Stephen Cugliari	 	BLADE
                   URBAN
                   AIR MOBILITY, INC.
	 	 	a
                   Delaware Corpo rat ion
	Print Name	Stephen
Cugliari	 	 
	 	 	 
	 	 	 
	Print
Name	 	 	By
                                     : 	/s/
Melissa Tomkiel

	 	 	Print
Name:
	Melissa
    Tomkiel

	 	 	Tititle:
	General
    Counsel

 

    11

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