Document:

Exhibit 10.18

 

Framework Agreement on Overseas Stocks
Arrangement

 

This agreement was signed by the following
parties on August 1, 2019 in Jiading District, Shanghai, China:

 

Party A: Zhongchao Medical Technology (Shanghai)
Co., Ltd. Uniform Social Credit Code is 91310114052955220G, the registered address is Room 501-3, No. 655 Yinxiang Road, Jiading
District, Shanghai.

 

Party B: Yang Weiguang, identity number:
362227198206170314;

 

Party C: Yantai Hanfujingfei Investment
Centre (LP). Uniform Social Credit Code is 91370600MA3CD6XA2D, the registered address is No.10 Zhujiang Road, Economic and Technological
Development Zone, Yantai City, Shandong Province.

 

The three parties, Party A, Party B and
Party C, are collectively referred to as “the parties”, and simply referred to as “the party”.

 

Given:

 

1. Party A is a limited liability company
established and validly existing according to law. As of the date of this agreement, the registered capital is RMB 21,600,135,
and Party B is the actual controller of Party A.

 

2. Party C holds 6.25% of Party A’s
equity (the corresponding registered capital is RMB 13,500,680, hereinafter referred to as the “underlying equity”).
The total consideration for Party B to acquire the underlying equity is RMB 20 million (hereinafter referred to as “investment
funds”).

 

3. Party A is building a VIE structure,
and plans to use Party A as the actual operating entity in the country (hereinafter referred to as the “domestic company”).
Taking overseas Cayman company ZHONGCHAO INC. (Hereinafter referred to as “Cayman company”) as the listing entity and
listing in the United States at an appropriate time (as the case may be).

 

4. Party A intends to reduce capital and
refund Party C’s investment of RMB 20 million. Party C intends to handle the formalities of overseas direct investment of
Chinese enterprises (including but not limited to fulfilling the filing or approval procedures in the development and reform authorities,
the competent commercial authorities, the foreign exchange authorities or designated banks, collectively referred to as the “ODI
filing”), and the RMB 20 million of investment funds are exchanged out of the country and paid out to the Cayman company
in order to realize the shareholding in the Cayman company.

 

      

    	 

    

 

In order to facilitate the successful listing
of the Cayman Company and the Cayman Company’s shareholding in compliance with Party C, the parties of this agreement have
reached this agreement in accordance with the principles of equality, mutual benefit and friendly negotiation, so as to jointly
comply.

 

Article 1. Overall arrangement

 

All parties agreed to follow the plan listed
in Annex I of this agreement to guide the realization of Party C’s shareholding in Cayman Company.

 

(1) Party A and Party B promise that after
the signing of this agreement, Party A will start the capital reduction process and conduct targeted capital reduction for Party
C. After the capital reduction, Party C will no longer have any equity interest in Party A, and Party A will refund Party C’s
investment amount of RMB 20 million (referred to as the “capital reduction”). In principle, Party A shall complete
the capital reduction within one month after Party C completes the ODI filing. If Party A fails to complete the capital reduction
on time due to intentional delay or non-active processing by Party A, then Party A shall complete the capital reduction within
the time limit negotiated by the parties. Party C promises to cooperate with Party A to complete the capital reduction, sign the
relevant resolutions and documents related to the capital reduction, and assist in the corresponding industrial and commercial
change procedures.

 

(2) The parties agree and confirm that
Party A will not pay Party C the capital reduction of RMB 20 million for the time being, and Party A will pay to party C RMB 20
million after party C finishing the ODI filing(Recording or approval procedures for development and reform authorities, commerce
authorities, foreign exchange authorities, and designated banks have been completed).

 

(3) Party A and Party B promise that Cayman
companies will split stocks before listing. After the stock split, it will issue Piggyback Right shares to an affiliate of Party
A. Cayman companies shall reserve 1,350,068 shares with registration rights (Piggyback Right) (referred to as “reserved shares”,
reserved shares divided by the sum of (then all shareholders of Cayman companies plus reserved shares) = 6.25%). At the same time,
issue the Warrant to Party C as listed in Annex II of this agreement. Shareholders and directors of Cayman companies shall approve
the issuance of share options. The warrant shall state that after Party C pays the consideration granted and exercises the share
option certificate, the Cayman company shall issue reserved shares to Party C or its designated entity. Moreover, if Party C did
not exercise the share certificate to obtain reserved shares when the Cayman company was listed, the share certificate should be
disclosed in the Cayman company’s listing prospectus and audit report. If Party C exercises the warrant before the Cayman
company is listed, after the Cayman company issues the reserved shares to Party C, its shareholding structure before listing will
be as shown in Appendix III to this agreement.

 

    2 

    	 

    

 

(4) The parties agree and confirm that
the consideration for the warrant granted by Cayman to Party C is US $ 20 million equivalent (The corresponding exchange rate calculation
uses the exchange rate on the day of the transaction). Party C does not pay the consideration for the grant of share options. Party
C shall pay the consideration of the share option certificate to the Cayman company after completing the ODI filing (the registration
or approval procedures of the development and reform department, the competent commerce department, the foreign exchange department,
and the designated bank have been completed) and exchanging the refund of the capital reduction of RMB 20 million from Party A.

 

(5) Party C promises that when this agreement
is signed, Party C shall sign a series of agreement control documents (referred to as “VIE documents”) required to
build the VIE structure and cooperate with Party A to complete the registration of equity pledge.

 

(6) The parties agree and confirm that
after the signing of this agreement, Party C promises that it should do its utmost to handle ODI filing (the registration or approval
procedures of the development and reform department, the commerce department, the foreign exchange department or a designated bank
have been completed). Avoid situations where ODI filing is not completed due to intentional delay or inactive processing by Party
C. Party A and Party B have actively cooperated with the ODI filing (the registration or approval procedures of the development
and reform department, the commerce department, the foreign exchange department or the designated bank have been completed). The
expenses of the ODI filing agency (the registration or approval procedures of the development and reform department, the commerce
department, the foreign exchange department or the designated bank have been completed) shall be paid in advance by Party A, and
Party C shall repay the advance agency fees to Party A after Party C or its affiliates have reduced their holdings and exited from
Cayman Company. However, if the agency fee exceeds RMB 300,000, Party A shall bear the part in excess of RMB 300,000, and Party
C shall not be required to repay the excess of RMB 300,000. If Party C transfers the options to the outside of the company before
the exercise of the options (except for those transferred to its related parties), Party C shall repay all agency fees paid by
Party A on behalf of it, and is not subject to the RMB 300,000 limitation.

 

(7) After Party C completes the ODI filing
(the registration or approval procedures of the development and reform department, the competent commercial department, the foreign
exchange department, and the designated bank have been completed), Party A pays Party C a reduction of RMB 20 million. The parties
jointly confirmed that in order to ensure that the capital reduction of RMB 20 million will be used to pay the consideration for
the grant of share options, Party A shall pay the capital reduction to Party C in a jointly-supervised bank account opened by party
C (referred to as a “co-managed account”). The funds in the co-managed account can only be paid externally with the
written consent of Party A and Party C, and can only be paid to the Cayman company to pay the consideration for the grant of the
share certificate, and must not be used for any other purpose.

 

    3 

    	 

    

 

(8) For the avoidance of doubt, the parties
have unanimously confirmed that each party shall guarantee to act in accordance with the scheme of Article 1 of this Agreement,
and shall ensure cooperation with other parties in accordance with the scheme of Article 1 of this Agreement. If, after the efforts
of all parties, Party C meets the conditions for the exercise of the share option certificate before the listing of Cayman company,
the Cayman company will issue reserved shares to Party C or its designated entity before listing. If Party C meets the conditions
for the exercise of share options after the listing of Cayman, the Cayman company will issue reserved shares to Party C or its
designated entity after listing.

 

Article 2. Liability for breach of contract

 

(1) If the parties are unable to perform
this agreement due to force majeure, according to the influence of force majeure, the liability shall be partially or wholly exempted,
except as otherwise provided by law. The parties shall not be exempt from liability if force majeure occurs after the parties delay
in performing this agreement or violate any article of this agreement.

 

(2) Force majeure mentioned in this agreement
means that the parties of this agreement cannot foresee, inevitably, or overcome them when signing or performing this agreement,
so that this agreement cannot be fully performed or cannot be performed as scheduled, and the performance of this agreement has
been Events of practical significance include, but are not limited to, earthquakes, floods, snowstorms, wars, strikes, government
bans, etc.

 

(3) Any party that has suffered force majeure
shall notify the other party within 15 working days after the incident to mitigate the possible losses to the parties.

 

Article 4. Privacy Policy

 

(1) Each party confirms that this agreement,
the content of this agreement and the transactions under it, and any oral or written commercial, financial, legal, market, customer,
technology, property, and other information exchanged with each other in preparation or performance of this agreement are considered
as confidential information.

 

    4 

    	 

    

 

(2) Each party agrees that it shall and
shall ensure that any confidential information received or obtained by its affiliates and their respective or their affiliates’
officers, directors, employees, agents, representatives, accountants and legal advisers is handle as confidential and keep it confidential
unless disclosed or used in advance by other parties or required by judicial or administrative procedures or other laws and regulations.
However, the obligation of confidentiality does not apply to the following information: (i) any information permitted to be disclosed
under this agreement; (ii) publicly available at the time of disclosure and not caused by any information disclosed in violation
of this Agreement by any party or its affiliates or their respective or their affiliates’ officers, directors, employees,
agents, representatives, accountants and legal advisers; or (iii) information obtained by a party from a bona fide third party
without a duty of confidentiality; (iv) in information disclosed within the scope mutually agreed. And, for the purpose of performing
this agreement, one party can, to the extent necessary, make disclosures of the foregoing information to its affiliates and its
respective and its affiliated investors, officers, directors, employees, partners, shareholders, agents, representatives, accounting
and legal consultants, but it should ensure that those individuals bear the same obligation of confidentiality.

 

(3) In addition, for the sake of clarity,
the parties agree that one party and its respective affiliates (including their respective officers and directors, employees, partners,
members, shareholders, agents, representatives, accountants, financial advisers and legal advisers) may disclose confidential information
to such authorities or departments in accordance with the provisions of applicable laws and regulations, or the requirements of
government agencies, judicial authorities or securities regulatory authorities.

 

(4) The confidentiality period of this
agreement is from the signing date to permanent.

 

Article 5. Application of law and dispute
resolution

 

(1) The conclusion, validity, interpretation,
performance and dispute resolution of this agreement shall be governed by and construed in accordance with the Chinese law.

 

(2) All disputes arising from or related
to the implementation of this agreement shall be resolved through friendly negotiations between the parties. If any dispute cannot
be settled through negotiation within fifteen days after the dispute occurs, either party has the right to submit the dispute to
the Shanghai Arbitration Commission for arbitration in Shanghai in accordance with the arbitration rules in force at that time.
The arbitral tribunal consists of three arbitrators appointed in accordance with the arbitration rules. The applicant designates
one arbitrator, the respondent designates one arbitrator, and the third arbitrator is appointed by the first two arbitrators through
consultation or by the Shanghai Arbitration Commission. The language of arbitration is Chinese. The arbitral award is final and
binding on all parties.

 

(3) During the dispute resolution period,
the parties shall continue to have their other rights under this agreement and shall continue to perform their corresponding obligations
under this agreement.

 

    5 

    	 

    

 

Article 6. Into force and others

 

(1) This agreement shall become effective
after being signed by all parties and shall be legally binding on all parties. Any modification of this agreement requires the
consent of the parties and the signing of a supplementary agreement.

 

(2) This agreement is written in Chinese.
The original is in triplicate. Each party to the agreement holds one copy, which has the same legal effect.

 

(This page has no text, it is the signature
page of the framework agreement on overseas shareholding arrangements.)

  

	 	
        Party A:

         

        /s/ Zhongchao Medical Technology (Shanghai)
        Co., Ltd.

        

        

 

	 	
        Party B:

         

        /s/ Weiguang Yang

        

 

	 	
        Party C:

         

        /s/ Yantai Hanfujingfei Investment
        Centre         (LP)

 

 

 

6EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 JPMorgan Chase
Bank, National Association 
 New York Branch 
 383 Madison
Avenue 
 New York, NY 10179 
 December 11,
2019                 

	To:	 Gogo Inc. 

	 	 111 North Canal St., Suite 1500 

	 	 Chicago, IL 60606 

	 	 Attn: Sam Chong, Treasurer 

	 	 Telephone No.: (312) 571-5000 

	 	 Facsimile No.: (312) 575-0543 

 

	Re:	 Forward Stock Purchase Transaction 

_______________________________________________________________________________________ 

Dear Sir / Madam: 
 The purpose of this letter
agreement (this “Confirmation”) is to set forth the terms and conditions of the transaction entered into between JPMorgan Chase Bank, National Association (“Dealer”) and Gogo Inc. (“Counterparty”)
on the Trade Date specified below (the “Transaction”), as amended and restated hereby as of December 11, 2019 (the “Amendment Date”). This letter agreement constitutes a “Confirmation” as referred to
in the ISDA Master Agreement specified below. This Confirmation shall replace any previous agreements and serve as the final documentation for the Transaction. 

In connection with the issuance of the 2022 Convertible Notes (as defined below), Counterparty has requested, and Dealer has agreed, to amend
and restate the terms and conditions of the “Confirmation” in respect of the above-referenced transaction, as entered into between Dealer and Counterparty as of March 3, 2015 and in effect immediately prior to the Amendment Date (the
“Original Confirmation”) to provide certain representations, warranties and agreements of Counterparty and make such other amendments and modifications as further set forth below. On the Amendment Date, the Original Confirmation
shall be replaced in its entirety by this Confirmation, and the Original Confirmation shall thereafter be of no further force and effect and shall be deemed replaced and superseded in all respects by this Confirmation (for the avoidance of doubt,
except to evidence the obligations of Counterparty or of Dealer (as the case may be) with respect to representations and warranties previously made by Counterparty or of Dealer (as the case may be) under the Original Confirmation and the obligations
of Counterparty or of Dealer (as the case may be) (whether or not contingent) with respect to covenants previously required to have been performed by Counterparty or of Dealer (as the case may be) under the Original Confirmation, which obligations
are in all respects continuing and in full force and effect and are reaffirmed hereby). 
 The definitions and provisions contained in the
2000 ISDA Definitions (the “Swap Definitions”) and the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions” and together with the Swap Definitions, the “Definitions”) in each case as
published by the International Swaps and Derivatives Association, Inc. (“ISDA”), are incorporated into this Confirmation. In the event of any inconsistency between the Swap Definitions and the Equity Definitions, the Equity
Definitions shall govern, and in the event of any inconsistency between the Definitions and this Confirmation, this Confirmation shall govern. Certain defined terms used herein are based on terms that are defined in the offering memorandum dated
November 16, 2018 (the “2022 Offering Memorandum”) relating to the 6.00% Convertible Senior Notes due 2022 (as originally issued by Counterparty, the “2022 Convertible Notes”) issued by Counterparty in
an aggregate principal amount of USD 237,800,000 pursuant to an Indenture dated November 21, 2018 between Counterparty and U.S. Bank National Association, as trustee (the “2022 Indenture”). Certain other defined terms used
herein are based on terms that are defined in the offering memorandum dated March 3, 2015 (the “2020 Offering Memorandum”) relating to the 3.75% Convertible Senior Notes due 2020 (as originally issued by Counterparty, the
“2020 Convertible Notes” and, together with the 2022 Convertible Notes, the “Convertible Notes”) issued by Counterparty in an aggregate principal amount of $361,900,000 pursuant to an Indenture dated as of
March 9, 2015 between Counterparty and U.S. Bank National Association, as trustee (the “2020 Indenture” and, together with the 2022 Indenture, the “Indentures”). In the event of any inconsistency

 
between the terms defined in the 2022 Offering Memorandum, the 2022 Indenture and this Confirmation, this Confirmation shall govern, and in the event of any inconsistency between the terms
defined in the 2020 Offering Memorandum, the 2020 Indenture and this Confirmation, this Confirmation shall govern. The parties acknowledge that this Confirmation is entered into on the date hereof with the understanding that (x) definitions set
forth in the 2020 Indenture which are also defined herein by reference to the 2020 Indenture and (y) sections of the 2020 Indenture that are referred to herein, in each case, will conform to the descriptions thereof in the 2020 Offering
Memorandum. If any such definitions in the 2020 Indenture or any such sections of the 2020 Indenture differ from the descriptions thereof in the 2020 Offering Memorandum, the descriptions thereof in the 2020 Offering Memorandum will govern for
purposes of this Confirmation. The parties also acknowledge that this Confirmation is entered into on the date hereof with the understanding that (i) definitions set forth in the 2022 Indenture which are also defined herein by reference to the
2022 Indenture and (ii) sections of the 2022 Indenture that are referred to herein, in each case, will conform to the descriptions thereof in the 2022 Offering Memorandum. If any such definitions in the 2022 Indenture or any such sections of
the 2022 Indenture differ from the descriptions thereof in the 2022 Offering Memorandum, the descriptions thereof in the 2022 Offering Memorandum will govern for purposes of this Confirmation. Subject to the foregoing, (A) references to the
2020 Indenture herein are references to the 2020 Indenture as in effect on the date of its execution and if the 2020 Indenture is amended following such date (other than any amendment or supplement of the 2020 Indenture pursuant to
Section 10.01(h) of the 2020 Indenture that, as determined by the Calculation Agent, conforms the 2020 Indenture to the description of the 2020 Convertible Notes in the 2020 Offering Memorandum), any such amendment will be disregarded for
purposes of this Confirmation unless the parties agree otherwise in writing and (B) references to the 2022 Indenture herein are references to the 2022 Indenture as in effect on the date of its execution and if the 2022 Indenture is amended
following such date (other than any amendment or supplement of the 2022 Indenture pursuant to Section 10.01(h) of the 2022 Indenture that, as determined by the Calculation Agent, conforms the 2022 Indenture to the description of the 2022
Convertible Notes in the 2022 Offering Memorandum), any such amendment will be disregarded for purposes of this Confirmation unless the parties agree otherwise in writing. 

Each party is hereby advised, and each such party acknowledges, that the other party has engaged in, or refrained from engaging in,
substantial financial transactions and has taken other material actions in reliance upon the parties’ entry into the Transaction to which this Confirmation relates on the terms and conditions set forth below. 

1. This Confirmation evidences a complete binding agreement between Counterparty and Dealer as to the terms of the Transaction to which this Confirmation
relates. This Confirmation (notwithstanding anything to the contrary herein) shall be subject to an agreement in the form of the 2002 ISDA Master Agreement (the “Master Agreement”) as if Dealer and Counterparty had executed an
agreement in such form (but without any Schedule except for the election of the laws of the State of New York as the governing law) on the Trade Date. In the event of any inconsistency between the provisions of the Master Agreement and this
Confirmation, this Confirmation will prevail for the purpose of the Transaction to which this Confirmation relates. The parties hereby agree that no transaction other than the Transaction to which this Confirmation relates shall be governed by the
Master Agreement. 
 2. The Transaction constitutes a Share Forward for purposes of the Equity Definitions. The terms of the particular Transaction to which
this Confirmation relates are as follows: 
  

			
	General Terms.	  	
		
	 Trade Date:
	  	March 3, 2015
		
	 Effective Date:
	  	March 9, 2015.
		
	 Seller:
	  	Dealer
		
	 Buyer:
	  	Counterparty
		
	 Shares:
	  	The common stock of Counterparty, par value USD 0.0001 per share (Exchange Symbol: “GOGO”).

  
 2 

			
		
	 Number of Shares:
	  	As of the Amendment Date, 4,204,997 Shares, consisting of 2,091,848 Shares (the “Number of 2020 Shares”) and 2,113,149 Shares (the “Number of 2022 Shares”). On each Settlement Date, the Number of
Shares shall be reduced by the Number of 2020 Shares or Number of 2022 Shares, as applicable, for such Settlement Date.
		
	 Daily Number of Shares:
	  	For any Valuation Date occurring prior to the applicable Maturity Date, the applicable number of Shares specified by Dealer in the related Settlement Notice (as defined below under “Valuation Dates”), which shall not
exceed the Number of 2020 Shares or Number of 2022 Shares, as applicable, on such Valuation Date, and for the Valuation Date occurring on (x) the 2020 Maturity Date, the remaining Number of 2020 Shares, and (y) the 2022 Maturity Date, the
Number of 2022 Shares on such Valuation Date.
		
	 Maturity Date:
	  	(i) With respect to the Number of 2020 Shares, the last day of the 50 Exchange Business Day period commencing on, and including, the 42nd Scheduled Trading Day immediately preceding March 1, 2020 (the “2020 Maturity
Date”) and (ii) with respect to the Number of 2022 Shares, the last day of the 90 Exchange Business Day period commencing on, and including, the 82nd Scheduled Trading Day immediately preceding May 15, 2022 (the “2022
Maturity Date”).
		
	 Forward Price:
	  	USD 19.47
		
	 Prepayment:
	  	Applicable
		
	 Prepayment Amount:
	  	USD 81,871,291.59
		
	 Prepayment Date:
	  	The Effective Date.
		
	 Exchange:
	  	The NASDAQ Global Select Market
		
	 Related Exchange(s):
	  	 All Exchanges

		
	 Calculation Agent:
	  	 Dealer, subject to the following:
  

The Calculation Agent is Dealer, whose judgments, determinations and calculations as Calculation Agent shall be made in good faith and in a commercially
reasonable manner. Following any determination or calculation by the Calculation Agent hereunder, upon a written request by Counterparty, the Calculation Agent shall promptly (but in any event within five Scheduled Trading Days) provide to
Counterparty by email to the email address provided by Counterparty in such request a report (in a commonly used file format for the storage and manipulation of financial data) displaying in reasonable detail the basis for such determination or
calculation (including any assumptions used in making such determination or calculation), it being understood that the Calculation Agent shall not be obligated to disclose any proprietary or confidential data or information or any proprietary or
confidential models used by it for such determination or calculation.

	Settlement Terms:	  	
		
	 Physical Settlement:
	  	Applicable. In lieu of Section 9.2(a)(iii) of the Equity Definitions, Dealer will deliver to Counterparty the Daily Number of Shares for the related Valuation Date on the relevant Settlement
Date.

  
 3 

			
		
	 Valuation Dates:
	  	(a) Any Scheduled Trading Day following the Effective Date designated by Dealer in a written notice (a “Settlement Notice”) that is delivered to Counterparty at least one Scheduled Trading Day prior to such
Valuation Date, specifying (i) the Daily Number of Shares for each such Valuation Date and (ii) the related Settlement Date(s), (b) the 2020 Maturity Date with respect to the Number of 2020 Shares or relevant portion thereof, if any, then
remaining and (c) the 2022 Maturity Date with respect to the Number of 2022 Shares or relevant portion thereof, if any, then remaining.
		
	 Market Disruption Event:
	  	 The definition of “Market Disruption Event” in Section 6.3(a) of the Equity Definitions is hereby amended (A) by
deleting the words “at any time during the one hour period that ends at the relevant Valuation Time, Latest Exercise Time, Knock-in Valuation Time or Knock-out
Valuation Time, as the case may be” and inserting the words “at any time on any Valuation Date” after the word “material,” in the third line thereof, and (B) by replacing the words “or (iii) an Early
Closure.” therein with “(iii) an Early Closure, or (iv) a Regulatory Disruption.”
 Section 6.3(d) of the Equity Definitions is
hereby amended by deleting the remainder of the provision following the term “Scheduled Closing Time” in the fourth line thereof.

		
	 Regulatory Disruption:
	  	Any event that Dealer, in its reasonable discretion and in good faith, determines makes it advisable with regard to any legal, regulatory or self-regulatory requirements or related policies and procedures applicable to Dealer,
including any requirements, policies or procedures relating to Dealer’s hedging activities hereunder, to refrain from or decrease any market activity in connection with the Transaction. Dealer shall notify Counterparty as soon as reasonably
practicable that a Regulatory Disruption has occurred and the Valuation Dates affected by it.
		
	 Dividends:
	  	
		
	 Dividend Payment:
	  	In lieu of Section 9.2(a)(iii) of the Equity Definitions, Dealer will pay to Counterparty the Dividend Amount on the third Currency Business Day immediately following the Dividend Payment Date.
		
	 Dividend Amount:
	  	(a) 100% of the per Share amount of any cash dividend declared by the Issuer to holders of record of a Share on any record date occurring during the period from, and including, the Effective Date to, but excluding, the final
Settlement Date, multiplied by (b) the Number of Shares on such record date (after giving effect to any reduction on such record date, if such record date is a Settlement Date).
		
	 Dividend Payment Date:
	  	Each date on which the relevant Dividend Amount is paid by the Issuer to shareholders of record.
		
	 Share Adjustments:
	  	
		
	 Method of Adjustment:
	  	Calculation Agent Adjustment. For the avoidance of doubt, the payment of any cash dividend or distribution on the Shares shall not constitute a Potential Adjustment Event but instead shall be governed by the provisions set forth
under the heading “Dividends” above.

  
 4 

			
		
	 Extraordinary Events:
	  	
		
	 New Shares:
	  	In the definition of New Shares in Section 12.1(i) of the Equity Definitions, the text in clause (i) shall be deleted in its entirety and replaced with “publicly quoted, traded or listed on any of the New York
Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors)”.
		
	 Consequences of Merger Events:
	  	
		
	 Share-for-Share:
	  	Calculation Agent Adjustment
		
	 Share-for-Other:
	  	Calculation Agent Adjustment or Cancellation and Payment, at the commercially reasonable election of Dealer
		
	 Share-for-Combined:
	  	Calculation Agent Adjustment or Cancellation and Payment, at the commercially reasonable election of Dealer
		
	 Consequences of Tender Offers:
	  	
		
	 Share-for-Share:
	  	Calculation Agent Adjustment
		
	 Share-for-Other:
	  	Calculation Agent Adjustment
		
	 Share-for-Combined:
	  	Calculation Agent Adjustment
		
	 Calculation Agent Adjustment:
	  	If, with respect to a Merger Event or a Tender Offer, the consideration for the Shares includes (or, at the option of a holder of Shares, may include) shares of an entity or person that is not a corporation or is not organized
under the laws of the United States, any State thereof or the District of Columbia, then Cancellation and Payment may apply at Dealer’s sole election.
		
	 Composition of Combined Consideration:
	  	Not Applicable
		
	 Nationalization, Insolvency or Delisting:
	  	Cancellation and Payment; provided that, in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it will also constitute a Delisting if the Exchange is located in the United States and the Shares
are not immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or
The NASDAQ Global Market (or their respective successors); if the Shares are immediately re-listed, re-traded or re-quoted on any
of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors), such exchange or quotation system shall thereafter be deemed to be the Exchange. For purposes of this Confirmation
(x) the phrase “will be cancelled” in the first line of Section 12.6(c)(ii) of the Equity Definitions shall be replaced with the phrase “may be cancelled by Dealer in its commercially reasonable discretion” and
(y) the words “if so cancelled” shall be inserted immediately following the word “and” in the second line of Section 12.6(c)(ii) of the Equity Definitions.

  
 5 

			
		
	Additional Disruption Events:	  	
		
	Change in Law:	  	Applicable; provided that Section 12.9(a)(ii) of the Equity Definitions is hereby amended by (i) replacing the phrase “the interpretation” in the third line thereof with the phrase “, or public
announcement of, the formal or informal interpretation”, (ii) replacing the word “Shares” where it appears in clause (X) thereof with the words “Hedge Position” and (iii) replacing the parenthetical beginning after
the word “regulation” in the second line thereof the words “(including, for the avoidance of doubt and without limitation, (x) any tax law or (y) adoption, effectiveness or promulgation of new regulations authorized or
mandated by existing statute)”.
		
	 Failure to Deliver:
	  	Applicable
		
	 Hedging Disruption:
	  	Applicable; provided that Section 12.9(b)(iii) of the Equity Definitions is hereby amended by inserting in the third line thereof, after the words “to terminate the Transaction”, the words “or a portion
of the Transaction affected by such Hedging Disruption”.
		
	 Increased Cost of Hedging:
	  	Applicable; provided that for purposes of this Confirmation (x) the comma immediately preceding “(B)” in the seventh line of Section 12.9(b)(vi) of the Equity Definitions shall be replaced with the word
“or”, (y) clause (C) of Section 12.9(b)(vi) of the Equity Definitions shall be deleted and (z) the words “either party” in the twelfth line of Section 12.9(b)(vi) of the Equity Definitions shall be replaced
with the words “the Hedging Party”.
		
	 Loss of Stock Borrow:
	  	Not Applicable
		
	 Increased Cost of Stock Borrow:
	  	Not Applicable
		
	 Hedging Party:
	  	For all applicable Additional Disruption Events, Dealer who, in such capacity, shall make all determinations and calculations in good faith and in a commercially reasonable manner.
		
	 Determining Party:
	  	For all applicable Extraordinary Events, Dealer.
		
	 Non-Reliance:
	  	Applicable
		
	 Agreements and Acknowledgements
 Regarding
Hedging Activities:
	  	Applicable
		
	Additional Acknowledgements:	  	Applicable

 3. Account Details: 
  

	 	(a)	 Account for payments to Counterparty: 

To be provided by Counterparty. 

Account for delivery of Shares to Counterparty: 

To be provided by Counterparty 

  
 6 

	 	(b)	 Account for payments to Dealer: 

 

	 	Bank:	 JPMorgan Chase Bank, N.A. 

	 	ABA#:	 021000021 

	 	Acct No.:	 099997979 

	 	Beneficiary:	 JPMorgan Chase Bank, N.A. New York 

	 	Ref:	 Derivatives 

  

	 	 	 Account for delivery of Shares from Dealer: 

 

	 	 	 To be provided by Dealer 

4. Offices: 
 The Office of Counterparty for the Transaction is:
Inapplicable, Counterparty is not a Multibranch Party. 
 The Office of Dealer for the Transaction is: New York 

 

	 	 	 JPMorgan Chase Bank, National Association 

	 	 	 New York Branch 

	 	 	 383 Madison Avenue 

	 	 	 New York, NY 10179 

5. Notices: For purposes of this Confirmation: 
  

	 	(a)	 Address for notices or communications to Counterparty: 

 

	 	 	 Gogo Inc. 

	 	 	 111 North Canal St., Suite 1500 

	 	 	 Chicago, IL 60606 

	 	 	 Attention: Sam Chong, Treasurer 

	 	 	 Telephone No.: (312) 571-5000 

	 	 	 Facsimile No.: (312) 575-0543 

 

	 	(b)	 Address for notices or communications to Dealer: 

 

	 	JPMorgan Chase Bank, National Association	 

	 	EDG Marketing Support	 

	 	Email:	 edg_notices@jpmorgan.com 

	 	edg_ny_corporate_sales_support@jpmorgan.com	 

	 	Facsimile No: 1-866-886-4506	 

  

	 	 	 J.P. Morgan Securities LLC 

	 	 	 383 Madison Ave 

	 	 	 New York, NY 10179 

6. Representations, Warranties and Agreements of Counterparty. 

Each of the representations and warranties of Counterparty set forth in Section 3 of the Purchase Agreement (the “Purchase
Agreement”), dated as of November 16, 2018, between Counterparty, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC, as representatives of the Initial Purchasers party thereto (the “Initial Purchasers”),
were true and correct as of November 16, 2018 and are hereby deemed to be repeated to Dealer as of November 16, 2018 as if set forth herein. Furthermore, in addition to the representations set forth in the Master Agreement, Counterparty
represents and warrants to, and agrees with, Dealer, on the Amendment Date, that: 
  

  
 7 

 (a) (i) It has not entered into the Transaction and is not entering into this amendment and
restatement of the Transaction on behalf of or for the accounts of any other person or entity, and will not transfer or assign its obligations under the Transaction or any portion of such obligations to any other person or entity except in
compliance with applicable laws and the terms of the Transaction; (ii) it understands that the Transaction is subject to complex risks which may arise without warning and may at times be volatile, and that losses may occur quickly and in
unanticipated magnitude; (iii) it is authorized to enter into the Transaction and this amendment and restatement of the Transaction and such action does not violate any laws of its jurisdiction of incorporation, organization or residence
(including, but not limited to, any applicable position or exercise limits set by any self-regulatory organization, either acting alone or in concert with others) or the terms of any agreement to which it is a party; (iv) it has
consulted with its legal advisor(s) and has reached its own conclusions about the Transaction and this amendment and restatement of the Transaction, and any legal, regulatory, tax, accounting or economic consequences arising from the Transaction and
this amendment and restatement of the Transaction; (v) it has concluded that the Transaction and this amendment and restatement of the Transaction are suitable in light of its own investment objectives, financial condition and expertise; and
(vi) neither Dealer nor any of its affiliates has advised it with respect to any legal, regulatory, tax, accounting or economic consequences arising from the Transaction or this and restatement of the Transaction, and neither Dealer nor any of
its affiliates is acting as agent, or advisor for Counterparty in connection with the Transaction or this amendment and restatement of the Transaction. 

(b) Counterparty (A) is capable of evaluating investment risks independently, both in general and with regard to all transactions and
investment strategies involving a security or securities; (B) will exercise independent judgment in evaluating the recommendations of any broker-dealer or its associated persons, unless it has otherwise notified the broker-dealer in writing;
and (C) has total assets of at least $50 million. 
 (c) The reports and other documents filed by Counterparty with the U.S.
Securities and Exchange Commission (“SEC”) pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”) when considered as a whole (with the more recent such reports and documents deemed to amend
inconsistent statements contained in any earlier such reports and documents), do not contain any untrue statement of a material fact or any omission of a material fact required to be stated therein or necessary to make the statements therein, in the
light of the circumstances in which they were made, not misleading. Counterparty is not in possession of any material nonpublic information regarding the business, operations or prospects of Counterparty or the Shares. 

(d) Counterparty has not entered into the Transaction and is not entering into this amendment and restatement of the Transaction to create
actual or apparent trading activity in the Shares (or any security convertible into or exchangeable for the Shares) or to raise or depress or otherwise manipulate the price of the Shares (or any security convertible into or exchangeable for the
Shares) or otherwise in violation of the Exchange Act. 
 (e) Counterparty is not on the Amendment Date engaged in a distribution, as such
term is used in Regulation M under the Exchange Act of any securities of Counterparty, other than a distribution meeting the requirements of the exception set forth in Rules 101(b)(10) and 102(b)(7) of Regulation M. Counterparty shall not, until the
second Scheduled Trading Day immediately following the Amendment Date, engage in any such distribution. Counterparty shall not, during (w) the period beginning on, and including, the 42nd Scheduled Trading Day immediately preceding
March 1, 2020 and ending on, and including, the second Scheduled Trading Day immediately following the 2020 Maturity Date, (x) the period beginning on, and including, the 82nd Scheduled Trading Day immediately preceding May 15, 2022
and ending on, and including, the second Scheduled Trading Day immediately following the 2022 Maturity Date, (y) the period beginning on, and including, the date on which Counterparty or any subsidiary thereof repurchases or exchanges any of
the Convertible Notes pursuant to the terms thereof, commences a tender offer for the Convertible Notes or enters into any agreement to repurchase or exchange the Convertible Notes, and ending on, and including, the second Scheduled Trading Day
immediately following completion by Dealer of any unwind activity with respect to Dealer’s Hedge Positions as a result of any such repurchase, exchange or tender offer, or (z) upon the occurrence of a “Make-Whole Fundamental
Change” (as defined in either of the Indentures), the period beginning on, and including, the “Effective Date” (as defined in the related Indenture) of such Make-Whole Fundamental Change, and ending on, and including, the second
Scheduled Trading Day immediately following completion by Dealer of any unwind activity with respect to Dealer’s Hedge Positions in connection with any “Conversion Date” (as defined in the related Indenture) that occurs “in
connection with” such Make-Whole Fundamental Change (within the meaning of the related Indenture) (any period described in clause (w), clause (x), clause (y), or clause (z), a “Prohibited Period”), engage in any such
distribution, other than a distribution meeting the requirements of one of the exceptions set forth in Rule 101(b) and Rule 102(b) of Regulation M. Counterparty shall give contemporaneous written notice to Dealer upon it or any of its subsidiaries

  
 8 

 
repurchasing or exchanging the Convertible Notes pursuant to their terms, commencing a tender offer for the Convertible Notes or entering into any agreement to repurchase or exchange the
Convertible Notes, and Dealer shall give prompt written notice to Counterparty of its completion of any unwind activity with respect to Dealer’s Hedge Positions as a result of such repurchase, exchange or tender offer. By 5:00 p.m. (New York
City) time on the Scheduled Trading Day following any “Conversion Date” (as defined in each of the Indentures) that occurs “in connection with” such Make-Whole Fundamental Change (within the meaning of the related Indenture),
Counterparty shall give written notice to Dealer of the aggregate principal amount of Convertible Notes converted on such Conversion Date and the “Settlement Method” (as defined in the related Indenture) that applies to such Convertible
Notes. In addition, Dealer shall give prompt written notice to Counterparty of its completion of any unwind activity with respect to Dealer’s Hedge Positions in connection with any such Conversion Date. 

(f) The entry into the Transaction and the amendment and restatement of the Transaction was approved by the board of directors of
Counterparty, and Counterparty has entered into the Transaction and is entering into this amendment and restatement of the Transaction solely for the purposes stated in such board resolution. There is no internal policy of Counterparty, whether
written or oral, that would prohibit Counterparty from entering into any aspect of the Transaction or amending and restating the Transaction, including, but not limited to, the purchases of Shares to be made pursuant hereto. 

(g) Counterparty has all necessary corporate power and authority to execute, deliver and perform its obligations in respect of the Transaction
and this amendment and restatement; such execution, delivery and performance have been duly authorized by all necessary corporate action on Counterparty’s part; and this Confirmation has been duly and validly executed and delivered by
Counterparty and constitutes its valid and binding obligation, enforceable against Counterparty in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar laws affecting
creditors’ rights and remedies generally, and subject, as to enforceability, to general principles of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of whether enforcement is sought in a
proceeding at law or in equity) and except that rights to indemnification and contribution hereunder may be limited by federal or state securities laws or public policy relating thereto. 

(h) On and immediately after each of the Trade Date and the Prepayment Date (A) the assets of Counterparty at their fair valuation exceed
the liabilities of Counterparty, including contingent liabilities, (B) the capital of Counterparty is adequate to conduct the business of Counterparty, (C) Counterparty has the ability to pay its debts and obligations as such debts mature
and does not intend to, or does not believe that it will, incur debt beyond its ability to pay as such debts mature, (D) Counterparty is not, and will not be, “insolvent” (as such term is defined under Section 101(32) of the U.S.
Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy Code”)) and (E) Counterparty could have purchased Shares with an aggregate purchase price equal to the Prepayment Amount in compliance with the corporate
laws of the jurisdiction of its incorporation. 
 (i) Counterparty has made, and will make, all filings required to be made by it with the
SEC, any securities exchange or any other regulatory body with respect to the Transaction contemplated hereby. 
 (j) Neither the execution
and delivery of this Confirmation and this amendment and restatement of the Transaction, nor the incurrence or performance of obligations of Counterparty hereunder, will conflict with or result in a breach of the certificate of incorporation or by-laws (or any equivalent documents) of Counterparty, or any applicable law or regulation, or any order, writ, injunction or decree of any court or governmental authority or agency, or any agreement or instrument
to which Counterparty or any of its subsidiaries is a party or by which Counterparty or any of its subsidiaries is bound or to which Counterparty or any of its subsidiaries is subject, or constitute a default under, or result in the creation of any
lien under, any such agreement or instrument. 
 (k) No consent, approval, authorization, or order of, or filing with, any governmental
agency or body or any court is required in connection with the execution, delivery or performance by Counterparty of this Confirmation or this amendment and restatement, except such as have been obtained or made and such as may be required under the
Securities Act of 1933, as amended (the “Securities Act”), or state securities laws. 
 (l) Counterparty is not required to
register as an “investment company” as such term is defined in the Investment Company Act of 1940, as amended. 
 (m) Counterparty
is an “eligible contract participant” (as such term is defined in Section 1a(18) of the Commodity Exchange Act, as amended, other than a person that is an eligible contract participant under Section 1a(18)(C) of the Commodity
Exchange Act). 

  
 9 

 (n) No state or local (including any non-U.S.
jurisdiction’s) law, rule, regulation or regulatory order applicable to the Shares would give rise to any reporting, consent, registration or other requirement (including without limitation a requirement to obtain prior approval from any person
or entity) as a result of Dealer or its affiliates owning or holding (however defined) Shares. 
 (o) On the Amendment Date and on any day
during a Prohibited Period, neither Counterparty nor any “affiliated purchaser” (each as defined in Rule 10b-18 under the Exchange Act) shall directly or indirectly (including, without limitation, by
means of any cash-settled or other derivative instrument) purchase, offer to purchase, place any bid or limit order that would effect a purchase of, or commence any tender offer relating to, any Shares (or an equivalent interest, including a unit of
beneficial interest in a trust or limited partnership or a depository share) or any security convertible into or exchangeable or exercisable for Shares. 

(p) Counterparty acknowledges that the offer and sale of the Transaction to it is intended to be exempt from registration under the Securities
Act, by virtue of Section 4(a)(2) thereof. Accordingly, Counterparty represents and warrants to Dealer that (i) it has the financial ability to bear the economic risk of its investment in the Transaction and this amendment and restatement
of the Transaction and is able to bear a total loss of its investment, (ii) it is an “accredited investor” as that term is defined in Regulation D as promulgated under the Securities Act, (iii) it is entering into the Transaction
and this amendment and restatement of the Transaction for its own account without a view to the distribution or resale thereof and (iv) the assignment, transfer or other disposition of the Transaction has not been and will not be registered
under the Securities Act and is restricted under this Confirmation, the Securities Act and state securities laws. 
 7. Other Provisions. 

(a) Opinions. On or prior to the Effective Date, Counterparty shall have delivered to Dealer an opinion of counsel, dated as of
such date, in form and substance reasonably satisfactory to Dealer, with respect to the matters set forth in Section 6(g), Section 6(j), Section 6(k) and Section 6(l) of this Confirmation. Delivery of such opinion to Dealer shall
be a condition precedent for the purpose of Section 2(a)(iii) of the Master Agreement with respect to each obligation of Dealer under Section 2(a)(i) of the Master Agreement. 

(b) Repurchase Notices. Counterparty shall, on any day on which Counterparty effects any repurchase of Shares, promptly give
Dealer a written notice of such repurchase (a “Repurchase Notice”) on such day if following such repurchase, the number of outstanding Shares as determined on such day is (i) less than 77,445,629 (in the case of the first such
notice) or (ii) thereafter more than 6,530,413 less than the number of Shares included in the immediately preceding Repurchase Notice. Counterparty agrees to indemnify and hold harmless Dealer and its affiliates and their respective officers,
directors, employees, affiliates, advisors, agents and controlling persons (each, an “Indemnified Person”) from and against any and all losses (including losses relating to Dealer’s hedging activities as a consequence of
becoming, or of the risk of becoming, a Section 16 “insider”, including without limitation, any forbearance from hedging activities or cessation of hedging activities and any losses in connection therewith with respect to the
Transaction), claims, damages, judgments, liabilities and expenses (including reasonable attorney’s fees), joint or several, which an Indemnified Person may become subject to, as a result of Counterparty’s failure to provide Dealer with a
Repurchase Notice on the day and in the manner specified in this paragraph, and to reimburse, within 30 days, upon written request, each of such Indemnified Persons for any reasonable legal or other expenses incurred in connection with
investigating, preparing for, providing testimony or other evidence in connection with or defending any of the foregoing. If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or
asserted against the Indemnified Person as a result of Counterparty’s failure to provide Dealer with a Repurchase Notice in accordance with this paragraph, such Indemnified Person shall promptly notify Counterparty in writing, and Counterparty,
upon request of the Indemnified Person, shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others Counterparty may designate in such proceeding and shall pay the reasonable, out-of-pocket fees and expenses of such counsel related to such proceeding. Counterparty shall not be liable for any settlement of any proceeding contemplated by this
paragraph that is effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, Counterparty agrees to indemnify any Indemnified Person from and against any loss or liability by reason of
such settlement or judgment. Counterparty shall not, without the prior written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding contemplated by this paragraph that is in respect of which any
Indemnified Person is a party and indemnity has been sought hereunder by such Indemnified Person, unless such settlement includes an unconditional release of such Indemnified Person from all liability on claims that are the subject matter of such
proceeding on terms reasonably satisfactory to such Indemnified Person. If the indemnification provided for in this 

  
 10 

 
paragraph is unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then Counterparty hereunder, in lieu of
indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims, damages or liabilities. The remedies provided for in this paragraph (b) are not
exclusive and shall not limit any rights or remedies which may otherwise be available to any Indemnified Person at law or in equity. The indemnity and contribution agreements contained in this paragraph shall remain operative and in full force and
effect regardless of the termination of the Transaction. 
 (c) Reserved. 

(d) Transfer or Assignment. 

(i) Dealer may transfer or assign all or any part of its rights or obligations under the Transaction (A) without Counterparty’s
consent to any affiliate of Dealer, but, only if (1) an Event of Default, Potential Event of Default, or Termination Event will not occur as a result of such transfer or assignment and (2) as a result of such transfer or assignment,
Counterparty will not be required to pay the transferee on any payment date an amount under Section 2(d)(i)(4) of the Master Agreement, as applicable, greater than the amount that Counterparty would have been required to pay to Dealer in the
absence of such transfer or assignment, or (B) with Counterparty’s consent (whose consent shall not be unreasonably withheld) to any other third party with a rating for its long term, unsecured and unsubordinated indebtedness (or to any
other third party whose obligations are guaranteed by an entity with a rating for its long term, unsecured and unsubordinated indebtedness) equal to or better than the lesser of (1) the credit rating of Dealer at the time of the transfer and (2) A- by Standard and Poor’s Rating Group, Inc. or its successor (“S&P”), or A3 by Moody’s Investor Service, Inc. (“Moody’s”) or, if either
S&P or Moody’s ceases to rate such debt, at least an equivalent rating or better by a substitute rating agency mutually agreed by Counterparty and Dealer. If at any time at which (A) the Section 16 Percentage exceeds 8.5%, (B) the
Forward Equity Percentage exceeds 14.5%, or (C) the Share Amount exceeds the Applicable Share Limit (if any applies) (any such condition described in clauses (A), (B) or (C), an “Excess Ownership Position”), Dealer is unable
after using its commercially reasonable efforts to effect a transfer or assignment of a portion of the Transaction to a third party on pricing terms reasonably acceptable to Dealer and within a time period reasonably acceptable to Dealer such that
no Excess Ownership Position exists, then Dealer may designate any Exchange Business Day as an Early Termination Date with respect to a portion of the Transaction (the “Terminated Portion”), such that following such partial
termination no Excess Ownership Position exists. In the event that Dealer so designates an Early Termination Date with respect to a portion of the Transaction, a payment (or if applicable, in accordance with and subject to Section 7(f),
delivery) shall be made pursuant to Section 6 of the Master Agreement as if (1) an Early Termination Date had been designated in respect of a Transaction having terms identical to the Transaction and a Number of Shares equal to the number
of Shares underlying the Terminated Portion, (2) Counterparty were the sole Affected Party with respect to such partial termination and (3) the Terminated Portion were the sole Affected Transaction (and, for the avoidance of doubt, the
provisions of Section 7(f) shall apply to any amount that is payable by Dealer to Counterparty pursuant to this sentence as if Counterparty was not the Affected Party). The “Section 16 Percentage” as of any
day is the fraction, expressed as a percentage, (A) the numerator of which is the number of Shares that Dealer and any of its affiliates or any other person subject to aggregation with Dealer for purposes of the “beneficial ownership”
test under Section 13 of the Exchange Act, or any “group” (within the meaning of Section 13 of the Exchange Act) of which Dealer is or may be deemed to be a part beneficially owns (within the meaning of Section 13 of the
Exchange Act), without duplication, on such day (or, to the extent that for any reason the equivalent calculation under Section 16 of the Exchange Act and the rules and regulations thereunder results in a higher number, such higher number) and
(B) the denominator of which is the number of Shares outstanding on such day. The “Forward Equity Percentage” as of any day is the fraction, expressed as a percentage, (A) the numerator of which is the Number of Shares and
(B) the denominator of which is the number of Shares outstanding. The “Share Amount” as of any day is the number of Shares that Dealer and any person whose ownership position would be aggregated with that of Dealer (Dealer or
any such person, a “Dealer Person”) under any law, rule, regulation, regulatory order or organizational documents or contracts of Counterparty that are, in each case, applicable to ownership of Shares (“Applicable
Restrictions”), owns, beneficially owns, constructively owns, controls, holds the power to vote or otherwise meets a relevant definition of ownership under any Applicable Restriction, as determined by Dealer in its reasonable discretion.
The “Applicable Share Limit” means a number of Shares equal to (A) the minimum number of Shares that could give rise to reporting or registration obligations or other requirements (including obtaining prior approval from any
person or entity or making the Shares subject to redemption) of a Dealer Person, or could result in an adverse effect on a Dealer Person, under any Applicable Restriction, as determined by Dealer in its reasonable discretion, minus (B) 1% of
the number of Shares outstanding. 

  
 11 

 (ii) Notwithstanding any other provision in this Confirmation to the contrary requiring or
allowing Dealer to purchase, sell, receive or deliver any Shares or other securities, or make or receive any payment in cash, to or from Counterparty, Dealer may designate any of its affiliates to purchase, sell, receive or deliver such Shares or
other securities, or to make or receive such payment in cash, and otherwise to perform Dealer’s obligations in respect of the Transaction and any such designee may assume such obligations. Dealer shall be discharged of its obligations to
Counterparty to the extent of any such performance. 
 (e) Staggered Settlement. If upon advice of counsel with respect to any
legal, regulatory or self-regulatory requirements or related policies or procedures applicable to Dealer, including any requirements, policies or procedures relating to Dealer’s hedging activities hereunder, Dealer reasonably determines that it
would not be practicable or advisable to deliver, or to acquire Shares to deliver, any or all of the Shares to be delivered by Dealer on any Settlement Date for the Transaction, Dealer may, by notice to Counterparty on or prior to such Settlement
Date (a “Nominal Settlement Date”), elect to deliver the Daily Number of Shares otherwise deliverable on such Nominal Settlement Date on two or more dates (each, a “Staggered Settlement Date”) or at two or more
times on a Nominal Settlement Date as follows: 
  

	 	(1)	 in such notice, Dealer will specify to Counterparty the related Staggered Settlement Dates (each of which will
be on or prior to the twentieth (20th) Exchange Business Day following such Nominal Settlement Date) and the number of Shares that it will deliver on each Staggered Settlement Date or delivery times; 

 

	 	(2)	 the aggregate number of Shares that Dealer will deliver to Counterparty hereunder on all such Staggered
Settlement Dates or delivery times will equal the number of Shares that Dealer would otherwise be required to deliver on such Nominal Settlement Date; and 

  

	 	(3)	 the Physical Settlement terms will apply on each Staggered Settlement Date, except that the Daily Number of
Shares otherwise deliverable on such Nominal Settlement Date will be allocated among such Staggered Settlement Dates or delivery times as specified by Dealer in the notice referred to in clause (1) above. 

Notwithstanding anything herein to the contrary, solely in connection with a Staggered Settlement Date, Dealer shall be entitled to deliver Shares to
Counterparty from time to time prior to the date on which Dealer would be obligated to deliver them to Counterparty pursuant to the Physical Settlement terms set forth above, and Counterparty agrees to credit all such early deliveries against
Dealer’s obligations hereunder in the direct order in which such obligations arise. No such early delivery of Shares will accelerate or otherwise affect any of Counterparty’s obligations to Dealer hereunder. 

(f) Alternative Calculations and Payment on Early Termination and on Certain Extraordinary Events. If (a) an Early
Termination Date (whether as a result of an Event of Default or a Termination Event) occurs or is designated with respect to the Transaction or (b) the Transaction is cancelled or terminated upon the occurrence of an Extraordinary Event, and if
Dealer would owe any amount to Counterparty pursuant to Section 6(d)(ii) of the Master Agreement or any Cancellation Amount pursuant to Article 12 of the Equity Definitions (any such amount, a “Payment Obligation”), then Dealer
shall satisfy the Payment Obligation by the Share Termination Alternative (as defined below). 
  

	 Share Termination Alternative: 
	If applicable, Dealer shall deliver to Counterparty the Share Termination Delivery Property on, or within a commercially reasonable period of time after, the date when the relevant Payment Obligation would otherwise be due pursuant to
Section 12.7 or 12.9 of the Equity Definitions or Section 6(d)(ii) and 6(e) of the Master Agreement, as applicable (the “Share Termination Payment Date”), in satisfaction of such Payment Obligation in the manner reasonably
requested by Counterparty free of payment. 

  
 12 

	 Share Termination Delivery Property: 
	A number of Share Termination Delivery Units, as calculated by the Calculation Agent, equal to the Payment Obligation, divided by the Share Termination Unit Price. The Calculation Agent shall adjust the Share Termination Delivery Property
by replacing any fractional portion of a security therein with an amount of cash equal to the value of such fractional security based on the values used to calculate the Share Termination Unit Price. 

 

	 Share Termination Unit Price: 
	The value to Dealer of property contained in one Share Termination Delivery Unit, as determined by the Calculation Agent in its discretion by commercially reasonable means and notified by the Calculation Agent to Dealer at the time of
notification of the Payment Obligation. For the avoidance of doubt, the parties agree that in determining the Share Termination Delivery Unit Price the Calculation Agent may consider the purchase price paid in connection with the purchase of Share
Termination Delivery Property or the per Share unwind price of any Share-linked Hedge Positions, as the case may be. 

  

	 Share Termination Delivery Unit: 
	One Share or, if the Shares have changed into cash or any other property or the right to receive cash or any other property as the result of a Nationalization, Insolvency or Merger Event (any such cash or other property, the “Exchange
Property”), a unit consisting of the type and amount of such Exchange Property received by a holder of one Share (without consideration of any requirement to pay cash or other consideration in lieu of fractional amounts of any securities)
in such Nationalization, Insolvency or Merger Event, as determined by the Calculation Agent. 

  

	 Failure to Deliver: 
	Applicable 

  

	 Other applicable provisions: 
	If Share Termination Alternative is applicable, the provisions of Sections 9.8, 9.9 and 9.11 of the Equity Definitions will be applicable, except that all references in such provisions to “Physically-settled” shall be read as
references to “Share Termination Settled” and all references to “Shares” shall be read as references to “Share Termination Delivery Units”. “Share Termination Settled” in relation to the Transaction means that
the Share Termination Alternative is applicable to the Transaction. 

 (g) Securities Contract, Swap Agreement.
The parties hereto intend for (i) the Transaction to be a “securities contract” and a “swap agreement” as defined in the Bankruptcy Code, and the parties hereto to be entitled to the protections afforded by, among other
Sections, Sections 362(b)(6), 362(b)(17), 546(e), 546(g), 555 and 560 of the Bankruptcy Code, (ii) a party’s right to liquidate the Transaction and to exercise any other remedies upon the occurrence of any Event of Default, Early
Termination Event, Extraordinary Event or Additional Disruption Event 

  
 13 

 
under this Confirmation with respect to the other party to constitute a “contractual right” as described in the Bankruptcy Code, and (iii) each payment and delivery of cash,
securities or other property hereunder to constitute a “margin payment” or “settlement payment” and a “transfer” as defined in the Bankruptcy Code. 

(h) No Collateral, Netting or Setoff. Notwithstanding any provision of the Master Agreement, or any other agreement
between the parties, to the contrary, no collateral is transferred in connection with the Transaction. Obligations under the Transaction shall not be netted, recouped or set off (including pursuant to Section 6 of the Master Agreement) against
any other obligations of the parties, whether arising under the Master Agreement, this Confirmation, under any other agreement between the parties hereto, by operation of law or otherwise, and no other obligations of the parties shall be netted,
recouped or set off (including pursuant to Section 6 of the Master Agreement) against obligations under the Transaction, whether arising under the Master Agreement, this Confirmation, under any other agreement between the parties hereto, by
operation of law or otherwise, and each party hereby waives any such right of setoff, netting or recoupment. 
 (i) Status of
Claims in Bankruptcy. Dealer acknowledges and agrees that this Confirmation is not intended to convey to Dealer rights against Counterparty with respect to the Transaction that are senior to the claims of common stockholders of
Counterparty in any U.S. bankruptcy proceedings of Counterparty; provided that nothing herein shall limit or shall be deemed to limit Dealer’s right to pursue remedies in the event of a breach by Counterparty of its obligations and
agreements with respect to the Transaction; provided, further, that nothing herein shall limit or shall be deemed to limit Dealer’s rights in respect of any transactions other than the Transaction. 

(j) Governing Law. This Confirmation will be governed by, and construed in accordance with, the laws of the State of New York
(without reference to choice of law doctrine). 
 (k) Waiver of Jury Trial. Each party waives, to the fullest extent permitted
by applicable law, any right it may have to a trial by jury in respect of any suit, action or proceeding relating to the Transaction. Each party (i) certifies that no representative, agent or attorney of either party has represented, expressly
or otherwise, that such other party would not, in the event of such a suit, action or proceeding, seek to enforce the foregoing waiver and (ii) acknowledges that it and the other party have been induced to enter into the Transaction, as
applicable, by, among other things, the mutual waivers and certifications provided herein. 
 (l) Tax Disclosure. Effective
from the date of commencement of discussions concerning the Transaction, Counterparty and each of its employees, representatives, or other agents may disclose to any and all persons, without limitation of any kind, the tax treatment and tax
structure of the Transaction and all materials of any kind (including opinions or other tax analyses) that are provided to Counterparty relating to such tax treatment and tax structure. 

(m) Right to Extend. Dealer may postpone or add, in whole or in part, any Valuation Dates and related Settlement Dates, or any
other date of valuation, payment or delivery by Dealer, with respect to some or all of the Number of Shares hereunder, if Dealer reasonably determines that such action is necessary or appropriate to preserve Dealer’s hedging or hedge unwind
activity hereunder in light of existing liquidity conditions or to enable Dealer to effect transactions with respect to Shares in connection with its hedging, hedge unwind or settlement activity hereunder in a manner that would, if Dealer were
Counterparty or an affiliated purchaser of Counterparty, be in compliance with applicable legal, regulatory or self-regulatory requirements or related policies and procedures applicable to Dealer, including any requirements, policies or procedures
relating to Dealer’s hedging activities hereunder. 
 (n) Wall Street Transparency and Accountability Act. In connection
with Section 739 of the Wall Street Transparency and Accountability Act of 2010 (“WSTAA”), the parties hereby agree that neither the enactment of WSTAA or any regulation under the WSTAA, nor any requirement under WSTAA or an
amendment made by WSTAA, shall limit or otherwise impair either party’s otherwise applicable rights to terminate, renegotiate, modify, amend or supplement this Confirmation or the Master Agreement, as applicable, arising from a termination
event, force majeure, illegality, increased costs, regulatory change or similar event under this Confirmation, the Equity Definitions incorporated herein, or the Master Agreement (including, but not limited to, rights arising from Change in Law,
Hedging Disruption, Increased Cost of Hedging, an Excess Ownership Position, or Illegality (as defined in the Master Agreement)). 

  
 14 

 (o) Notice. Counterparty shall, upon obtaining knowledge of the occurrence of
any event that would, with the giving of notice, the passage of time or the satisfaction of any condition, constitute an Event of Default in respect of which it would be the Defaulting Party, a Termination Event in respect of which it would be an
Affected Party, a Potential Adjustment Event or an Extraordinary Event (including without limitation an Additional Disruption Event), notify Dealer within one Scheduled Trading Day of the occurrence of obtaining such knowledge. 

(p) Agreements and Acknowledgements Regarding Hedging. Counterparty understands, acknowledges and agrees that: (A) at any
time on and prior to the final Valuation Date, Dealer and its affiliates may buy or sell Shares or other securities or buy or sell options or futures contracts or enter into swaps or other derivative securities in order to adjust its hedge position
with respect to the Transaction; (B) Dealer and its affiliates also may be active in the market for Shares other than in connection with hedging activities in relation to the Transaction; (C) Dealer shall make its own determination as to
whether, when or in what manner any hedging or market activities in securities of Counterparty shall be conducted and shall do so in a manner that it deems appropriate to hedge its price and market risk with respect to the Forward Price; and
(D) any market activities of Dealer and its affiliates with respect to Shares may affect the market price and volatility of Shares in a manner that may be adverse to Counterparty. 

(q) Reserved.  

(r) Tax Matters. 
  

	 	(i)	 Withholding Tax imposed on payments to non-US counterparties under the
United States Foreign Account Tax Compliance Act. “Tax” and “Indemnifiable Tax”, each as defined in Section 14 of the Master Agreement, shall not include any U.S. federal withholding tax imposed or collected pursuant to
Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), any current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code,
or any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections of the Code (a “FATCA Withholding Tax”). For the avoidance
of doubt, a FATCA Withholding Tax is a Tax the deduction or withholding of which is required by applicable law for the purposes of Section 2(d) of the Master Agreement. 

 

	 	(ii)	 Incorporation of ISDA 2015 Section 871(m) Protocol Provisions. To the extent that either party to the
Master Agreement with respect to this Transaction is not an adhering party to the ISDA 2015 Section 871(m) Protocol published by the International Swaps and Derivatives Association, Inc. on November 2, 2015 and available at www.isda.org,
as may be amended, supplemented, replaced or superseded from time to time (the “871(m) Protocol”), the parties agree that the provisions and amendments contained in the Attachment to the 871(m) Protocol are incorporated into and apply to
the Master Agreement with respect to this Transaction as if set forth in full herein. The parties further agree that, solely for purposes of applying such provisions and amendments to the Master Agreement with respect to this Transaction, references
to “each Covered Master Agreement” in the 871(m) Protocol will be deemed to be references to the Master Agreement with respect to this Transaction, and references to the “Implementation Date” in the 871(m) Protocol will be deemed
to be references to the Trade Date of this Transaction. 

  

	 	(iii)	 Tax documentation. For the purpose of Section 4(a)(i) of the Master Agreement, each party agrees to
deliver the following, as applicable: Counterparty shall provide to Dealer a valid, duly executed and completed U.S. Internal Revenue Service Form W-9, or any successor thereto, (i) on or before the date
of execution of this Confirmation and (ii) promptly upon learning that any such tax form previously provided by Counterparty has become obsolete or incorrect. Additionally, Counterparty shall, promptly upon request by Dealer, provide such other
tax forms and documents reasonably requested by Dealer. Dealer shall provide to Counterparty a valid, duly executed and completed U.S. Internal Revenue Service Form W-9 or any successor thereto, (i) on or
before the date of execution of this Confirmation and (ii) promptly upon learning that any such tax form previously provided by Dealer has become obsolete or incorrect. Additionally, Dealer shall, promptly upon request by Counterparty, provide
such other tax forms and documents reasonably requested by Counterparty. 

  
 15 

	 	(iv)	 Tax Representations. For the purpose of Section 3(f) of the Master Agreement, each party makes the
representations specified below, as applicable: Counterparty represents to Dealer that: it is a “U.S. person” (as that term is used in section 1.1441-4(a)(3)(ii) of the United States Treasury
Regulations) for U.S. federal income tax purposes and an exempt recipient under Treasury Regulation Section 1.6049-4(c)(1)(ii). Dealer represents to Counterparty that: it is a “U.S. person” (as
that term is used in section 1.1441-4(a)(3)(ii) of the United States Treasury Regulations) for U.S. federal income tax purposes and an exempt recipient under Treasury Regulation
Section 1.6049-4(c)(1)(ii). 

 (s) U.S. Resolution Stay
Protocol. The parties acknowledge and agree that (i) to the extent that prior to the date hereof both parties have adhered to the 2018 ISDA U.S. Resolution Stay Protocol (the “Protocol”), the terms of the Protocol are
incorporated into and form a part of the Agreement, and for such purposes the Agreement shall be deemed a “Protocol Covered Agreement”, Dealer shall be deemed a “Regulated Entity” and Counterparty shall be deemed an
“Adhering Party”; (ii) to the extent that prior to the date hereof the parties have executed a separate agreement the effect of which is to amend the qualified financial contracts between them to conform with the requirements of the QFC
Stay Rules (the “Bilateral Agreement”), the terms of the Bilateral Agreement are incorporated into and form a part of the Agreement, and for such purposes the Agreement shall be deemed a “Covered Agreement”, Dealer shall
be deemed a “Covered Entity” and Counterparty shall be deemed a “Counterparty Entity”; or (iii) if clause (i) and clause (ii) do not apply, the terms of Section 1 and Section 2 and the related defined
terms (together, the “Bilateral Terms”) of the form of bilateral template entitled “Full-Length Omnibus (for use between U.S. G-SIBs and Corporate Groups)” published by ISDA on
November 2, 2018 (currently available on the 2018 ISDA U.S. Resolution Stay Protocol page at www.isda.org and, a copy of which is available upon request), the effect of which is to amend the qualified financial contracts between the parties
thereto to conform with the requirements of the QFC Stay Rules, are hereby incorporated into and form a part of the Agreement, and for such purposes the Agreement shall be deemed a “Covered Agreement,” Dealer shall be deemed a
“Covered Entity” and Counterparty shall be deemed a “Counterparty Entity.” In the event that, after the date of the Agreement, both parties hereto become adhering parties to the Protocol, the terms of the Protocol will replace
the terms of this paragraph. In the event of any inconsistencies between the Agreement and the terms of the Protocol, the Bilateral Agreement or the Bilateral Terms (each, the “QFC Stay Terms”), as applicable, the QFC Stay Terms
will govern. Terms used in this paragraph without definition shall have the meanings assigned to them under the QFC Stay Rules. For purposes of this paragraph, references to “the Agreement” include any related credit enhancements entered
into between the parties or provided by one to the other. In addition, the parties agree that the terms of this paragraph shall be incorporated into any related covered affiliate credit enhancements, with all references to Dealer replaced by
references to the covered affiliate support provider. 
 “QFC Stay Rules” means the regulations codified at 12 C.F.R. 252.2,
252.81–8, 12 C.F.R. 382.1-7 and 12 C.F.R. 47.1-8, which, subject to limited exceptions, require an express recognition of the stay-and-transfer powers of the FDIC under the Federal Deposit Insurance Act and the Orderly Liquidation Authority under Title II of the Dodd Frank Wall Street Reform and Consumer Protection Act and the
override of default rights related directly or indirectly to the entry of an affiliate into certain insolvency proceedings and any restrictions on the transfer of any covered affiliate credit enhancements. 

[Signatures to follow on separate page] 

  
 16 

 EXECUTION VERSION 

Please confirm that the foregoing correctly sets forth the terms of our agreement by executing this Confirmation and returning it to Dealer.

  

			
	 Yours sincerely,

	
	 JPMorgan Chase Bank, National Association

		
	 By:
	 	/s/ Sudheer Tegulapalle
		 	 Name: Sudheer Tegulapalle

		 	 Title:   Managing Director

 Confirmed as of the date first 

above written: 
  

			
	 Gogo Inc.

		
	 By:
	 	/s/ Barry Rowan
		 	Name: Barry Rowan
		 	Title:   EVP & CFO

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