Document:

EX-10.10

 Exhibit 10.10 

Lease No.: C010681 

Cust. No.: GLBC30 

Doc. Name: GLBC10681 

LEASE AGREEMENT BETWEEN MIAMI-DADE COUNTY, FLORIDA, AS LESSOR, AND GLOBAL CROSSING AIRLINES LLC, AS LESSEE, MIAMI INTERNATIONAL
AIRPORT 
 THIS LEASE AGREEMENT (“Agreement”) is made and entered into as of the
10th day of December, 2018, by and between MIAMI-DADE COUNTY, a political subdivision of the State of Florida (“County”), and GLOBAL CROSSING AIRLINES LLC, a Florida
limited liability (“Lessee”). 
 WITNESSETH: 

FOR, and in consideration of the premises and of the mutual covenants and agreements herein contained, the parties hereto agree as follows:

 ARTICLE 1 
 Term and
Premises 
 1.01 Term: The County hereby leases to the Lessee, and the Lessee hereby leases from the County, for a term of Month-to-Month, not to exceed three (3) years, commencing on November 1, 2018, cancellable by either party upon 30 days advance written notice to the other party,
the premises described in Article 1.02 (the “Premises”) for the purposes and uses set forth in Article 2 (“Use of Premises”) hereof. 

1.02 Premises: The Premises leased herein are located in Building 919 (5A) on the Northside Area of Miami International Airport
(“Airport”), and are more particularly described as follows and as shown on Exhibit D, dated November 1, 2018, attached hereto and made a part hereof (“Premises”): 

 

									
	 Building
	  	 Exhibit
	  	 ID #
	  	 Description
	  	 Sq. Ft.

	 919
	  	D	  	8919476	  	A/C Office Space	  	1,147

 1.03 Suitability of Premises: The Lessee acknowledges that the Premises are suitable for the
Lessee’s proposed use and that the County has no obligation to perform or cause to be performed any maintenance, repairs, clean-ups, painting, or the like. The Lessee’s obligation under this
Agreement, such as in Article 6.01(B) (Permits and Licenses), to obtain all operating permits required of the Lessee, shall not require the County to take any action or perform any tasks within the Premises to enable the Lessee to obtain such
permits, including, but not limited to, certificates of occupancy, which shall remain the Lessee’s exclusive obligation to perform in order to obtain such permits. 

  
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 1.04 Relocation of Premises: The Premises are subject to relocation, modification, or
deletion, at the sole discretion of the Aviation Department of the County (“Department”) and this Agreement may be administratively revised to reflect such relocation, modification, or deletion upon 30 days written notice to the Lessee by
the Department. Relocated space may not be similar in size, configuration or location to the Premises leased herein. 
 ARTICLE 2 

Use of Premises 
 The
Lessee shall use the Premises for the following purposes only: 
 The Premises shall be used for executive and administrative support offices only in
connection with the airline business activities of the Lessee. 
 ARTICLE 3 

Rentals and Payments 
 3.01
Rental: As annual rental for the lease of the Premises, the Lessee shall pay to the County, the sum of $14,911.00, plus applicable state sales taxes, payable in twelve (12) equal monthly installment of $1,242.58 in U.S. funds, on the
first day of each and every month in advance, without billing or demand, at the offices of the Department as set forth in Article 3.06 (Methods of Payments). Said rental is computed as follows: 

 

																					
	 DESCRIPTION
	  	ID NUMBER	 	  	SQ. FT.	 	  	RATE*	 	  	ANNUAL	 	  	MONTHLY	 
	 A/C Office Ste #’s 474-475
	  	 	8919476	 	  	 	1,147	 	  	$	13.00	 	  	$	14,911.00	 	  	$	1,242.58	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Total
	  				  				  				  	$	14,911.00	 	  	$	1,242.58	 

 Plus state sales taxes, as required by law. 
  

	*	 The stated rate includes common area janitorial, maintenance and access to common area parking. It does not
include utilities, electric, water & sewer, trash removal, and other janitorial services to Lessee’s leasehold. 

3.02 Security Deposit: Prior to occupancy of the Premises, the Lessee shall pay to the County an amount equal to two times the
required total monthly rental as determined pursuant to Article 3.01 above, plus applicable state sales tax thereon, as security for the payment of the Lessee’s obligations hereunder. Said deposit shall be in addition to any rental payments
required hereunder, and the Department shall be entitled to apply such payment to any debt of the Lessee to the Department that may then exist, as permitted by law, including but not limited to the rentals required hereunder. In lieu of the security
deposit being made in cash, the Department, in its sole discretion, may authorize the Lessee to provide an irrevocable Letter of Credit, in a form provided by the Department, in like amount. The amount of the security deposit

  
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is subject to adjustment by the Department at any time there is a change in the annual or monthly rentals pursuant to the terms of this Agreement; provided further, that the Department shall have
the right to demand an increase in the security deposit requirement of up to an additional four months rental to provide the Department with adequate assurance of the Lessee’s payment of its obligations, which assurance is required because of
the Lessee’s defaults in the timely payment of rents, fees and charges due hereunder, or because the Department has reason to believe, based on published reports, that the Lessee’s future ability to pay such rentals, fees and charges, on a
timely basis, is in jeopardy. 
 3.03 Common Use Service Charge: In addition to the monthly rentals required herein, the Lessee shall
pay each month during the term of this Agreement an applicable portion of the costs incurred by the County in providing certain common use services for the benefit of the Lessee, including, but not necessarily limited to, security, servicing
dumpsters provided by the Department pursuant to Article 4.02 (Removal of Trash) and janitorial services, as applicable and actually used by or provided to the Lessee. Such costs, including administrative costs, shall be determined by the Department
and billed periodically. These services charges shall be adjusted and billed retroactively from time to time based on changes in usages and in costs to the County. 

3.04 Rental Rate Review: On October 1 of each year of the term of this Agreement, or such other date as may be established by the
Board of County Commissioners, the rental rates applicable to the Premises as stated in Article 3.01 (Rental) above shall be subject to review and adjustment in accordance with the adjustment of rental rates for the entire Airport. When such rental
rate adjustments are approved by the Board of County Commissioners, and new or revised rental rates applicable in whole or in part to the Premises are established, the Department shall notify the Lessee in writing of such rates and this Agreement
shall be considered and deemed to have been administratively amended to incorporate the revised rental rates effective as of such date. Payments for any retroactive rental adjustments shall be due upon billing to the Lessee by the Department and
payable by the Lessee within ten calendar days of same. 
 3.05 Double Rental: In the event that the Lessee remains in possession of
the Premises beyond the expiration or termination of this Agreement, the Lessee shall be bound by all of the terms and conditions of this. Agreement to the same extent as if this Agreement were in full force and effect during the time beyond the
expiration date of this Agreement. However, during any such possession of the Premises as a holdover tenant after the County has demanded the return of the Premises, the Lessee shall be liable for double rentals for so long as the Lessee remains in
possession after such demand, such rentals to be based upon the rental rates applicable from time to time in whole or in part to the Premises. 

  
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 3.06 Methods of Payment: The Lessee shall pay, by any of the four methods described
in this article, all rentals, fees and charges required by this Agreement: 
 By mail: 

Miami-Dade County Aviation Department 

Accounting Division 
 P.O. Box
526624 
 Miami, Florida 33152-6624 

By hand delivery to the offices of the Department during normal working hours to the following: 

Miami-Dade County Aviation Department 

4200 N.W. 36 Street 
 Miami,
Florida 33166 
 By electronic funds transfer for immediate credit via wire transfer to: 

Bank: Bank of America 
 Miami,
Florida 
 ABA Number: 026009593 

Swift Code Number: BofAUS3N (effective 11/18/06) 

Account Name: Miami-Dade Aviation Department 

Bank Account Number: 001180000120 

Note: Transaction must include the Aviation Department invoice number(s) of charges to be paid. 

By electronic funds transfer for next day credit via the ACH (Automatic Clearing House) to: 

Bank: Bank of America 
 Miami,
Florida 
 ABA Number: 063100277 

Account Number: Miami-Dade Aviation Department 

Bank Account Number: 001180000120 
 Note:
Transaction must include the Aviation Department invoice number(s) of charges to be paid. 
 3.07 Late Payment Charge: Late Payment
Charge. In the event the Lessee fails to make any payments required to be paid under the provisions of this Lease, within ten (10) days after the same shall become due, interest shall be due and payable on the unpaid payments in the amount of
one and one-half percent (1 1/2%) per month against the delinquent payment from the original due date pro-rated daily until the Lessor actually receives the payment. Such interest rate shall apply unless the Board of County Commissioners has established a different rate or a specific provision of federal or state
law requires otherwise. The right of the Lessor to require payment of such interest and the obligation of the Lessee to pay same shall be in addition to, and not in lieu of, the rights of the Lessor to enforce other provisions herein, including the
termination of this lease, and to pursue other remedies provided by law. 

  
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 3.08 Dishonored Check or Draft: In the event that the Lessee delivers a dishonored
check or draft to the County in payment of any obligation arising under the terms of this Agreement, the Lessee shall incur and pay a service fee of TWENTY-FIVE DOLLARS, if the face value of the dishonored check or draft is $50.00 or less, THIRTY
DOLLARS, if the face value of the dishonored check or draft is more than $50.00 and less than $300.00, or FORTY DOLLARS, if the face value of the dishonored check or draft is $300.00 or more, or Five Percent of the face value of such dishonored
check or draft, whichever is greater. Further, in such event, the Department may require that future payments required pursuant to this Agreement be made by cashier’s check or other means acceptable to the Department. 

3.09 Utilities: Unless the Premises are separately metered and billed directly to the Lessee by the utility company or included in the
rental rates and noted in Article 3.01, the Lessee hereby agrees to pay monthly, upon billing by the Department, for utility consumption in the Premises. This monthly charge will be based on a survey conducted by or on behalf of the Department of
the utility consumption by the Lessee and/or current nondiscriminatory rates charged others at the Airport. This monthly charge may also be adjusted and billed retroactively, from time to time, based on changes in consumption and rates. The Lessee
shall pay for all utilities used by it. In the event the Premises are metered and billed to the Department, the Lessee shall pay for utility consumption based on the metered charge. The County shall have no obligation to provide utilities to the
Premises other than those existing as of the effective date of this Agreement. 
 3.10 Other Fees and Charges: The Lessee
acknowledges that the Board of County Commissioners has or will establish or direct the establishment, from time to time, of various fees and charges for the use of various facilities, equipment and services provided by the County and not leased to
or specifically provided to the Lessee hereunder, and procedures relating to the payment of same. The Lessee shall pay, upon billing, for its use of such facilities, equipment and services those fees and charges which are billed monthly. For other
fees and charges which are based on usage, the Lessee shall, unless otherwise directed by the Department in writing, report its uses of applicable facilities, equipment and services and pay the applicable fees and charges at such frequency and in
such manner as may be prescribed by the Department. 
 ARTICLE 4 

Maintenance and Repair by Lessee 

4.01 Cleaning: The Lessee shall, at its sole cost and expense, perform orcause to be performed, services which will at all times keep
the Premises clean, neat, orderly, sanitary and presentable. 

  
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 4.02 Removal of Trash: The Lessee shall, at its sole cost and expense, remove from
the Premises all trash and refuse which might accumulate and arise from its use of the Premises and the business operations of the Lessee under this Agreement unless otherwise indicated herein. Such trash and refuse shall be stored temporarily and
disposed of in a manner approved by the Department. 
 4.03 Maintenance and Repairs: The Lessee shall repair and maintain in good
condition the Premises and all improvements or alterations thereto, except for those items for which the County is responsible pursuant to Article 5 (Maintenance by County). Such repair and maintenance shall include, but not be limited to, painting,
floor coverings, doors, windows, equipment, furnishings, fixtures, appurtenances, replacement of light bulbs, ballasts and tubes and the replacement of all broken glass, and shall at all times be based on a standard of care reflecting prudent
property management. Maintenance and repairs shall be in quality and class equal to or better than the original work to preserve the Premises in good order and condition. The Lessee shall repair all damage caused by the Lessee and its employees,
agents, independent contractors, patrons, servants or invitees. Prior to or at termination of this Agreement, injury done by the installation or removal of furniture and personal property of the Lessee shall be repaired so as to restore the Premises
to their original state, except as the Premises may have been altered by the Lessee with the approval of the Department pursuant to Article 7.01 (Alteration), and to quit and surrender up the Premises in the same good order and condition as it was
at the commencement of this Agreement, reasonable wear and tear and damage caused by an Act of God excepted; provided however, that such return of the Premises under this Article 4.03 shall not relieve the Lessee of its obligations for damages to
the Premises that may be specifically provided elsewhere in this Agreement. 
 4.04 Modifications or Access to Roof: The Lessee
covenants that it shall not install, attach, suspend or in any manner modify the roof, its members or structures nor shall it permit any person to walk on the roof or its members without the prior written consent of the Department. In the event
Lessee violates this covenant, the duty of the County to pay for maintaining, repairing or replacing the roof or any portion thereof shall be null and void, and any expense for such maintenance, repair or replacement shall be the sole and exclusive
obligation of the Lessee. 
 4.05 Inspections: The Department and/or its designated representatives shall have the right, during
normal working hours, to inspect the Premises to identify those items of maintenance, repair, replacement, modification and refurbishment required of the Lessee or the County, pursuant to Article 5 (Maintenance by County), to keep the Premises in
good order and condition. The Lessee shall perform all corrective work required of it, identified in such inspection(s) within 30 days of receipt of written notice from the Department. Trash and debris problems shall be corrected within 24 hours
following receipt of either oral or written notice from the Department. 
 4.06 Failure to Maintain: If it is determined by the
Department that the Lessee has failed to properly clean, remove trash and refuse, maintain, repair, replace and refurbish the Premises as required by this Article 4 (Maintenance and Repair by Lessee), the Department shall provide to the Lessee a
list of deficiencies, reflecting the 

  
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 amount of time to be reasonably allowed for the Lessee to correct same. If the Lessee fails to correct such
deficiencies within the time allowed and has not registered an objection as to its obligation to do so, the Department, following 10 days further notice to the Lessee, may enter upon the Premises and perform all work, which, in the judgment of the
Department, may be necessary and the County shall add the cost of such work, plus 25% for administrative costs, to the rent due hereunder on the first day of the month following the date of such work, and such cost shall be and constitute a part of
the rent. Subsequent to receipt of the further notice of intent to perform repairs or cleanup from the Department, the Lessee shall not undertake performance of such repairs or cleanup without specific prior written authorization from the
Department. 
 ARTICLE 5 

Maintenance by County 

5.01 County Maintenance: The County shall operate and maintain in good condition all components of the existing water, sanitary
sewerage and storm water drainage facilities that lie outside the boundaries of the Premises. The County shall have no maintenance responsibility within the Premises. If any of such facilities are damaged or destroyed by the operations of the
Lessee, the Department shall make the necessary repairs or replacements and shall bill the Lessee for the costs of same, plus 25% for administrative costs, in the manner specified in Article 4.06 (Failure to Maintain) hereof. 

5.02 County Maintenance Subject to Certain Conditions: Such maintenance by the County may be subject to interruption caused by repairs,
strikes, lockouts, labor controversies, inability to obtain, fuel, power or parts, accidents, breakdowns, catastrophes, national or local emergencies, acts of God, and other conditions beyond the control of the County. Upon any such happening, the
Lessee shall have no claim for damages for the County’s failure to furnish or to furnish in a timely manner any such maintenance; provided, however, that the Department, in its sole discretion, may provide a rent abatement for that portion of
the Premises rendered unusable for the period of time that the County is unable to make the repairs required by Article 5.01 (County Maintenance). The County shall exercise reasonable diligence to remedy and/or cure any such interruptions to the
extent such interruptions are within the County’s control. 
 ARTICLE 6 

Regulations, Licenses and Permits 

6.01 Rules and Regulations—General: 
  

	 	(A)	 The Lessee shall comply with all Ordinances of the County, including the Rules and Regulations of the
Department, Chapter 25, Code of Miami-Dade County, Florida, as the same may be amended from time to time, Operational Directives issued there under, ail additional laws, statutes, ordinances, regulations and rules of the Federal, State and County
Governments, and any and all plans and programs developed in compliance therewith, which may be applicable to its operations or activities under this Agreement, specifically including, without limiting the generality hereof, Federal air and safety
laws and regulations and Federal, State and County environmental laws. 

  
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	 	(B)	 Permits and Licenses: 

(1) The Lessee, at its sole cost and expense, shall be liable and responsible for obtaining, paying for, maintaining on a current basis, and
fully complying with, any and all permits, licenses and other governmental authorizations, however designated, as may be required, at any time throughout the entire term of this Agreement, by any Federal, State, or County governmental entity or any
judicial body having jurisdiction over the Lessee or the Lessee’s operations and activities, for any activity of the Lessee conducted on the Premises and for any and all operations conducted by the Lessee, including insuring that all legal
requirements, permits and licenses necessary for or resulting, directly or indirectly, from the Lessee’s operations and activities on the Premises have been obtained and are being fully complied with. 

(2) Such permits and licenses shall include, but not be limited to, a Certificate of Use and Occupancy and any required Industrial Waste or
Operating Permits from the Miami-Dade County, Regulatory and Economic Resources (RER). Prior to occupancy of the Premises and commencement of operations under this Agreement, the Lessee shall provide to the Department evidence that it has obtained
the Certificate of Use and Occupancy and, as applicable, the appropriate operating Waste Permit(s). Upon written request of the Department, the Lessee shall provide to the Department copies of any permits and licenses, and applications therefor,
which the Department may request. 
  

	 	(C)	 Violations of Rules and Regulations: The Lessee agrees to pay on behalf of the County any penalty,
assessment or fine issued against the County, or to defend in the name of the County any claim, assessment or civil action, which may be presented or initiated by any agency or officer of the Federal, State or County governments, based in whole or
substantial part upon a claim or allegation that the Lessee, its agents, employees, invitees, or trespassers have violated any law, ordinance, regulation, rule or directive described in Article 6.01 (Rules and Regulations—General) above or any
plan or program developed in compliance therewith. The Lessee further agrees that the substance of this Article 6.01 (Rules and Regulations—General) above shall be included in every sublease, contract and other agreement, which the Lessee may
enter into related to its operations and activities under this Agreement and that any such sublease, contract and other agreement shall specifically provide that “Miami-Dade County, Florida is a third party beneficiary of this and related
provisions.” This provision shall not constitute a waiver of any other conditions of this Agreement prohibiting or limiting assignments, subletting or subcontracting. 

  
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 6.02 Aircraft Noise Abatement Regulations Compliance: The Lessee hereby specifically
acknowledges its awareness that the noise generated by aircraft, while on the ground and in flight, may cause annoyance to residential areas in proximity to the Airport and/or under or near flight corridors serving the Airport and that the County,
as proprietor of the Airport, may, therefore, from time to time adopt certain lawful policies, procedures and/or regulations, not inconsistent with the Airport Noise and Capacity Act of 1990, unless otherwise approved by the Federal Aviation
Administration, and not inconsistent with aircraft safety, intended to abate the effects of aircraft noise. Said policies, procedures and/or regulations may deal with, but are not necessarily limited to, nighttime engine run-ups, preferential runway usage, aircraft arrival and departure patterns, use of displaced runway thresholds, and the like. The Lessee specifically understands and agrees that a violation of such noise abatement
policies, procedures and/or regulations may result in the arrest or citation of the offending party, with the imposition of fines, and that a violation of same shall constitute a material breach hereunder and may result in termination of this
Agreement pursuant to the provisions hereof. 
 ARTICLE 7 

Alteration of Premises and Erection of Signs 

7.01 Alteration: The Lessee shall not alter the Premises in any manner whatsoever without the prior written approval of the Department.
In the event the Lessee is given approval to make alterations to the Premises, the Lessee shall comply with the terms and conditions of such approval, as contained in the Department’s approval letter, and in accordance with Article 6
(Regulations, Licenses and Permits) and a failure to do so shall constitute a default pursuant to Article 13.03 (Other Defaults) hereof. 

7.02 Signage: The Lessee shall not erect, maintain or display any identifying signs or any advertising matter, of any type or kind,
which is visible to the public, without prior written approval of the Department. In the event the Department changes the graphics system for the identification of lessees at the Airport, the Lessee agrees, if required by the Department, to change,
at its sole cost, any of its identification signs necessary to comply with such graphics system. 
 ARTICLE 8 

Environmental Compliance 

8.01 Definitions: For purposes of this Agreement, the following additional definitions apply: 

 

	 	(A)	 “Baseline Environmental Conditions” means the presence or release of Hazardous Materials, at, on,
under, or from the Premises prior to Lessee’s Occupancy Date, the presence or release of which was not caused by Lessee or Lessee’s agents, employees, contractors, invitees

  
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or trespassers. Solely for purposes of this Agreement, it shall be presumed that the Baseline Environmental Conditions consist of the conditions identified in any existing (as of the date of this
Agreement) Miami-Dade County maintained records, including contamination assessment reports and any other technical reports, data bases, remedial action plans, the Baseline Audit or the presence, discharge, disposal or release of any other Hazardous
Materials originating prior to the Occupancy Date that comes to be located on the Premises and not caused by Lessee or Lessee’s agents, employees, contractors, invitees or trespassers. 

 

	 	(B)	 “Environmental Claim” means any investigative, enforcement, cleanup, removal, containment, remedial
or other private, governmental or regulatory action at any time threatened, instituted or completed pursuant to any applicable Environmental Requirement, against Lessee with respect to its operations at Miami International Airport or against or with
respect to the Premises or any condition, use or activity on the Premises (including any such action against County), and any claim at any time threatened or made by any person against Lessee with respect to its operations at Miami International
Airport or against or with respect to the Premises or any condition, use or activity on the Premises (including any such claim against County), relating to damage, contribution, cost recovery, compensation, loss or injury resulting from or in any
way arising in connection with any Hazardous Material or any applicable Environmental Requirement. 

  

	 	(C)	 “Environmental Law” means any applicable federal, state or local law, statute, ordinance, code, rule,
or regulation, or license, authorization, decision, order, injunction, or decree, any of which may be issued by a judicial or regulatory body of competent jurisdiction, or rule of common law including, without limitation, actions in nuisance or
trespass, and any judicial or agency interpretation of any of the foregoing, which pertains to health, safety, any Hazardous Material, or the environment (including but not limited to ground or air or water or noise pollution or contamination, and
underground or aboveground tanks) and shall include without limitation, the Solid Waste Disposal Act, 42 U.S.C. § 6901 et seq.; the Comprehensive Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C § 9601 et
seq. (“CERCLA”), as amended by the Superfund Amendments and Reauthorization Act of 1986 (“SARA”); the Hazardous Materials Transportation Act 49 U.S.C. § 1801 et seq.; the Federal Water Pollution Control Act, 33
U.S.C.§ 1251 et seq.; the Clean Air Act 42 U.S.C. § 7401 et seq.; the Toxic Materials Control Act 15 U.S.C. § 2601 et seq.; the Safe Drinking Water Act, 42 U.S.C. § 300f et seq.; Chapters 403, 376 and
373, Florida Statutes; Chapters 24 and 25 of Miami-Dade County Code, and any other applicable local, state or federal environmental statutes, codes, or ordinances, and all rules, regulations, orders and decrees now or hereafter promulgated under any
of the foregoing, as any of the foregoing now exist or may be changed or amended or come into effect in the future. 

  
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	 	(D)	 “Environmental Requirement” means any Environmental Law, or any agreement or restriction entered into
or applicable by law (including but not limited to any condition or requirement imposed by any insurance or surety company), as the same now exists or may be changed or amended or come into effect in the future, which pertains to health, safety, any
Hazardous Material, or the environment, including but not limited to ground or air or water or noise pollution or contamination, and underground or aboveground tanks. 

With regard to any environmental agreements or restrictions entered into by MDAD, MDAD agrees to use reasonable efforts to apprise the Miami
Airport Affairs Committee (the “MAAC”), which represents the interests of the airlines at the Airport, of any such agreements or restrictions and to obtain the MAAC’s input into such items. 

 

	 	(E)	 “Hazardous Material” means any substance, whether solid, liquid or gaseous, which is listed, defined
or regulated as a hazardous substance, a hazardous waste or pesticide, or otherwise classified as hazardous or toxic, in or pursuant to any applicable Environmental Requirement; or which is or contains asbestos, radon, any polychlorinated biphenyl,
urea formaldehyde foam insulation, explosive or radioactive material, or motor fuel or other petroleum hydrocarbons; or which causes or poses a threat to cause contamination or a nuisance on the Premises, any adjacent Premises or a hazard to the
environment or to the health or safety of persons on the Premises or Other Airport Property. 

  

	 	(F)	 “Initial Construction Period” means for any lease which contemplates construction or renovation for
Premises not previously occupied in whole or in part by Lessee under this Agreement and/or any previous Agreement, a period of time not to exceed six (6) months commencing with the date on which Lessee breaks ground on the Premises for
construction of foundations or commences such renovation. 

  

	 	(G)	 “Occupancy Date” means the date Lessee first entered, occupied or took possession of the Premises
under any written or verbal agreement. 

  

	 	(H)	 “On” or “in” when used with respect to the Premises or any premises adjacent to the
Premises, means “on, in, under, above or about.” 

  

	 	(I)	 “Other Airport Property” means property on the Airport occupied or usedby Lessee, or upon which
Lessee performs operations, but which is not subject to a lease, sublease or other legal agreement governing theterms of Lessee’s occupation, use or operations at such property. 

  
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	 	(J)	 “Recognized Environmental Condition” shall have the meaning set forth in ASTM E 1527-05, Section 1.1.1, as such provision may be amended or superseded from time to time. 

  

	 	(K)	 “Release” means any spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting,
escaping, leaching, dumping or disposing into the environment. 

  

	 	(L)	 “Remediation” means any investigation, clean-up, removal
action, remedial action, restoration, repair, response action, corrective action, monitoring, sampling and analysis, installation, reclamation, closure, or post-closure in connection with the suspected, threatened or actual release of Hazardous
Materials. 

  

	 	(M)	 “Trespassers” means third-parties who have entered the Premises and whose actions while on the
Premises have resulted in Release of Hazardous Materials directly onto the Premises. Notwithstanding the foregoing, for purposes of this Agreement, Trespassers shall not include those third parties whose actions took place off of the Premises and
which resulted in the presence of Hazardous Materials on the Premises due to the migration of Hazardous Materials from that off-Premises location. 

8.02 Lessee’s Industrial Classification: Lessee represents and warrants to County that Lessee’s Standard Industrial
Classification (“SIC”) code number, as published in the most recent SIC Manual from the United States Office of Management and Budget, and as used on Lessee’s Federal Tax Return is
                                    . 

8.03 Lessee’s Acceptance of the Risks and Condition of Premises As-ls: Lessee agrees that
the Premises shall be leased and delivered to Lessee in its current “as-is/with all faults” condition (but it is not intended by this provision that County be relieved from its duties expressly set
forth in this Agreement or any other applicable agreement). Lessee hereby, warrants, covenants, agrees, and acknowledges that: 
  

	 	(A)	 Hazardous Materials may be present on the Premises and Other Airport Property. The County is currently engaged
in a significant environmental remediation program at MIA. 

  

	 	(B)	 Under Article 8.06 below, Lessee is provided the opportunity to conduct an independent investigation of the
Premises and the physical condition thereof, including the potential presence of any Hazardous Materials on or about the Premises. Lessee’s report on the investigation, if any such report has been prepared, has been provided to the County and
is listed in Exhibit K-03 attached to this Agreement. Whether Lessee has conducted such an investigation or not, Lessee is willing to proceed with this Agreement notwithstanding the environmental conditions of
the premises or the properties surrounding the premises, subject to Lessee’s right to terminate this Agreement as otherwise provided herein. 

  
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	 	(C)	 Because of the possible presence of environmental contaminants on the Premises or other Airport property,
County has made no express, implied, or other representations of any kind with respect to the suitability or usability of the Premises or other Airport Property, or any improvements appurtenant thereto, including, without limitation, the suitability
or usability of any building materials, building systems, soils or groundwater conditions (due to the presence of Hazardous Materials in, on, under, or about the Premises or other Airport property), for Lessee’s proposed or intended use, and
Lessee has relied solely on Lessee’s own inspection and examination of such matters. 

  

	 	(D)	 Except as to County’s obligations set forth in this Article or elsewhere in this Agreement, Lessee
expressly assumes the risk that Hazardous Materials that are or may be present on the Premises at the commencement of this Agreement may affect the suitability or usability of the Premises for Lessee’s proposed or intended use. Lessee agrees
that, except to the extent of County’s Remediation obligations provided in this Article 8, or any other discharge, disposal or release of Hazardous Materials or violation of Environmental Requirements, caused by County, its agents, employees or
contractors and except with respect to Baseline Environmental Conditions, County shall have no responsibility or liability with respect to any Hazardous Materials on the Premises. Notwithstanding the foregoing, in no event shall County be liable to
Lessee for damages relating to physical or personal injury, business interruptions relocation costs or any other cost (other than a cost for which County is liable under this Article 8) resulting from the presence of Hazardous Materials on the
Premises at any time during this Agreement. 

 8.04 Responsibilities for Hazardous Materials: 

 

	 	(A)	 Unless the parties agree otherwise in writing, the County shall conduct response actions mandated by existing
Environmental Requirements applicable to the County for (i) Hazardous Materials disclosed in the Lessee Audit to the extent required by Article 8.06 and (ii) Baseline Environmental Conditions, provided however that: 

(1) To the extent this Agreement covers Premises not previously occupied by Lessee and if this Agreement contemplates construction or
renovation by the Lessee, any Hazardous Material discovered during the Initial Construction Period as defined in Article 8.01(F), shall be presumed to be a Baseline Environmental Condition under this Agreement except to the extent the Aviation
Department demonstrates to the satisfaction of Lessee by written notice setting forth the Aviation Department’s explanation as to why the Hazardous Material originated 

  
 13 

 
from a discharge, disposal or release that was caused by Lessee, Lessee’s agents, employees, contractors, invitees or Trespassers. Should Lessee determine that such a demonstration has not
been made to Lessee’s satisfaction, County may invoke the dispute resolution provision of 8.16. Until such time as the parties reach an agreement or such time as the dispute is otherwise resolved, responsibility for such Hazardous Material
shall remain with the Aviation Department. 
 (2) To the extent this Agreement covers premises previously occupied by Lessee, and except for
Baseline Environmental Conditions, Remediation of any Hazardous Material discovered on the Premises shall be the responsibility of the Lessee, except to the extent that Lessee demonstrates to the satisfaction of Aviation Department Management by
written notice setting forth Lessee’s explanation as to why the Hazardous Material originated from (1) a discharge, disposal or release outside of the Premises, unless such discharge, disposal or release was caused by Lessee, Lessee’s
agents, employees, contractors or invitees. (2) a discharge, disposal or release of Hazardous Material on the Premises prior to the date upon which Lessee first occupied the premises and not caused by Lessee or Lessee’s agents, employees,
contractors, invitees or Trespassers; or (3) a discharge, disposal or release caused by the County, its agents, employees, contractors or any third party. Should the Aviation Department determine that such a demonstration has not been made to
Aviation Department’s satisfaction, Lessee may invoke the dispute resolution provision of 8.16. Until such time as the parties reach an agreement or such time as the dispute is otherwise resolved, responsibility for such Hazardous Material
shall remain with Lessee. 
  

	 	(B)	 County’s responsibility for Remediation under this Article 8.04 shall be limited to the Recognized
Environmental Conditions required to be remediated under applicable Environmental Requirements. If County is permitted to leave any Hazardous Material in place under applicable Environmental Requirements, County shall have the option of so doing,
unless a governmental authority requires at any time the removal of Hazardous Materials for Lessee to be able to continue with construction or occupancy of the Premises. The County shall notify Lessee of any such decision to leave Hazardous Material
in place. 

  

	 	(C)	 (1) To the extent they exist, the County has made available to Lessee a listing of contamination assessment
reports and remedial action plans regarding any soil and groundwater contamination at the Premises. Such list is found on Exhibit K-03 to this Agreement. The County may have already installed or may have plans
to install remediation systems to clean up the contamination described in such reports to the extent they exist. Lessee agrees that during the term of the Agreement, County’s authorized representatives shall have the right to enter the Premises
in order to operate, inspect, maintain, relocate and replace any such 

  
 14 

 
installed systems. Without limiting the generality of the foregoing, the County shall have the right to: (a) install, use, monitor, remove (or, in connection with monitoring wells, abandon
in place in accordance with applicable governmental regulations) soil borings, treatment systems, pumps, monitoring wells, and associated equipment; (b) construct, maintain, and ultimately remove various mechanical devices designed to aid in
the monitoring and remediating effort; and (c) undertake such related activities as the Aviation Department or other governmental authorities may require or recommend, utilizing such methods as the Aviation Department or the applicable
governmental authorities may elect in order to remediate the contamination described in any such reports. 
 (2) County shall utilize
reasonable efforts to minimize any disturbance of the Lessee’s use of the Premises caused by any Remediation it undertakes and shall provide Lessee prior written notice of such Remediation. Lessee agrees that it shall not unreasonably interfere
with or obstruct such Remediation. County and Lessee each agree to take such action as may be reasonable to coordinate their operations so as to minimize any interference with the other party. If vehicles, equipment, or materials belonging to the
Lessee have to be temporarily relocated to permit the Remediation to be performed, the Lessee will effect such relocation at no expense to the County. Attached to Exhibit K-03 is a site sketch of the Premises
describing any existing or currently planned Remediation equipment and depicting the current and proposed future location of such equipment. 

(3) If Remediation equipment or materials need to be temporarily stored in a secure location on the Premises, the Lessee will provide
reasonable storage inside the building on the Premises for such equipment and materials at no expense to the County, provided, however, that Lessee shall bear no liability and otherwise shall have no responsibility for any theft of and/or damage to
such equipment or materials so stored, to the extent Lessee took reasonable measures to prevent, such theft and/or damage and such theft and/or damage was not caused by Lessee or Lessee’s employees. To the extent that water and electrical
service within the Premises are not metered and the Lessee does not pay for such services directly, the Lessee will provide the County with water and electrical service from the Premises in connection with the Remediation, without charge. The Lessee
acknowledges the Remediation may be conducted at the locations depicted on the site sketch attached to Exhibit K-03 at any time during the term of the Agreement and may continue until such time as a no further
action letter is obtained from the appropriate regulatory authorities. 

  
 15 

 8.05 Baseline Audit: The County has provided Lessee with a copy of an environmental
audit of the Premises, conducted to identify any Recognized Environmental Conditions associated with the Premises, which audit may include analyses of soil and groundwater samples (the initial “Baseline Audit”). Except to the extent Lessee
previously occupied the Premises, the County shall be responsible for any Recognized Environmental Conditions within the meaning of ASTM E 1527-05, or most recent version, disclosed by the Baseline Audit.
Except to the extent Lessee previously occupied the Premises, Lessee may terminate this Agreement within sixty (60) days of receipt of the Baseline Audit if Lessee, in its sole discretion, determines that the Recognized Environmental Conditions
disclosed in such Baseline Audit are unacceptable. To the extent Lessee previously occupied the Premises, Lessee, subject to its right to invoke the dispute resolution provision of 8.16, shall be responsible for all Recognized Environmental
Conditions disclosed in the Baseline Audit, which are not otherwise Baseline Environmental Conditions, unless Lessee demonstrates to the County’s satisfaction that the Recognized Environmental Conditions originated from (1) a discharge,
disposal or release outside of the Premises, unless such discharge, disposal or release was caused by Lessee, Lessee’s agents employees, contractors or invitees; or (2) a discharge, disposal or release of Hazardous Material on the Premises
prior to Lessee’s first occupancy of the Premises and not caused by Lessee, Lessee’s agents, employees, contractors, invitees, or Trespassers. 

8.06 Lessee Audit: Lessee, at its sole cost and expense, shall have the right to conduct, within sixty (60) days from the receipt
of the Baseline Audit, an environmental inspection of the Premises (the “Lessee Audit”), through an independent environmental consultant approved in writing by County, such approval not to be unreasonably withheld or delayed. If Lessee
elects to conduct a Lessee Audit, it shall furnish County a copy of the Lessee Audit within thirty (30) days of Lessee’s receipt of the Lessee Audit. The purpose of the Lessee Audit is to determine whether there are present on the Premises
any Recognized Environmental Conditions not identified in the Baseline Audit, any previous audits, or any contamination assessment reports or remedial action plans, to the extent any such documents exist. Within thirty (30) days of receipt of
such Lessee Audit, the County shall notify Lessee if it disputes the Recognized Environmental Conditions or the delineation of any subsurface conditions described in the Lessee Audit. If the Lessee Audit reveals any Recognized Environmental
Conditions or delineates any subsurface contamination not disclosed in any contamination assessment reports, remedial action plans, or the Baseline Audit, and which are not otherwise considered Baseline Environmental Conditions under the terms of
this Agreement, then, except to the extent that Lessee previously occupied the Premises, the County, at its option, shall: (i) allow Lessee to terminate the Agreement, without penalty, within sixty (60) days of receipt of such notice of
dispute from the County; or (ii) notify Lessee that it has agreed to be responsible for such Recognized Environmental Conditions and delineated subsurface contamination to the same extent as the County is responsible for the Recognized
Environmental Conditions and subsurface contamination disclosed in any contamination assessment reports, remedial action plans and the Baseline Audit. If the County allows Lessee to terminate the Agreement and Lessee elects not to terminate,
Lessee’s failure to terminate shall constitute a waiver of 1) Lessee’s rights to terminate its obligations under this Agreement as to any findings in such Lessee Audit, except as to its right to cancel the lease on thirty
(30) days’ notice under Article 1.01 (B) and, 2) as provided in Article 8.04, any claim it may have against the County with respect either to Recognized 

  
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Environmental Conditions and subsurface contamination disclosed in such Lessee Audit. To the extent the Lessee previously occupied the Premises, Lessee shall be responsible for all Recognized
Environmental Conditions disclosed in the Lessee Audit that are not Baseline Environmental Conditions unless Lessee demonstrates to the satisfaction of Aviation Department Management by written notice setting forth Lessee’s explanation why the
Recognized Environmental Conditions originated from (1) a discharge, disposal or release outside of the Premises, unless such discharge, disposal or release was caused by Lessee, Lessee’s agents, employees, contractors, or invitees;
(2) a discharge, disposal or release of Hazardous Material on the Premises prior to the Occupancy Date and not caused by Lessee or Lessee’s agents, employees, contractors, invitees or Trespassers; or (3) a discharge, disposal or
release caused by County or third party. Should the Aviation Department determine that such a demonstration has not been made to Aviation Department’s satisfaction, Lessee may invoke the dispute resolution provision of 8.16. Until such time as
the parties reach an agreement or until such time as the dispute is otherwise resolved, responsibility for such Recognized Environmental Condition shall remain with Lessee. 

8.07 Environmental Maintenance of Premises: Except for the obligations of the County under this Article 8, Lessee shall, at its sole
cost and expense, keep, maintain and use the Premises, and operate within the Premises at all times, in compliance with all applicable Environmental Laws, and shall maintain the Premises in good and sanitary order, condition, and repair. 

8.08 Lessee’s Use of Hazardous Materials: Exhibit K-08 is a complete list of all Hazardous
Materials which Lessee currently intends to use on the Premises or Other Airport Property during the term of the Agreement which have been approved by the County, and the use, storage and transportation of which on or about the Premises shall not be
subject to County’s approval or objections. Except for those Hazardous Materials listed on Exhibit K-08, Lessee shall not use, store, generate, treat, transport, or dispose of any Hazardous Material on
the Premises or Other Airport Property without first providing the County thirty (30) days written notice prior to bringing such Hazardous Material upon the premises. To the extent certain Hazardous Materials are be needed to be used by Lessee
on a non-routine basis, such as for emergency repairs, Lessee may provide such notice within twenty-four (24) hours of bringing such Hazardous Material upon the premises. Notwithstanding the foregoing,
County may object to the use of any previously approved Hazardous Material should County reasonably determine that the continued use of the Hazardous Material by Lessee presents a material increased risk of site contamination, damage or injury to
persons, Premises, resources on or near the Premises or Other Airport Property, or noncompliance due to a change in regulation of such Hazardous Material under applicable Environmental Law. Upon County’s objection, Lessee shall immediately
remove the Hazardous Material from the site. This Section 8.08 shall not apply to Hazardous Materials which are not used, generated, treated or disposed of by Lessee but which are otherwise transported by Lessee solely in the course of
Lessee’s business, such as cargo operations, and for which Lessee has no knowledge as to the identity of such hazardous materials prior to such transport. County’s objection or failure to object to the use, storage, generation, treatment,
transportation, or disposal of 

  
 17 

 
Hazardous Material under this paragraph, or the exclusion of certain Hazardous Materials under this paragraph, shall not limit or affect Lessee’s obligations under this Agreement, including
Lessee’s duty to remedy or remove releases or threatened releases; to comply with applicable Environmental Law and/or Environmental Requirements relating to the use, storage, generation, treatment, transportation, and/or disposal of any such
Hazardous Materials; or to indemnify County against any harm or damage caused thereby. Lessee shall promptly and completely answer periodic questionnaires from the County concerning Lessee’s practices regarding the generation, use, storage, and
disposal of Hazardous Materials under this Agreement. 
 8.09 Entry by County: 

 

	 	(A)	 Notwithstanding any other right of entry granted to County under this Agreement, and subject to the
requirements set forth in Article 8.09(B), MDAD shall have the right, at its own expense and upon reasonable notice, to enter the Premises or to have consultants enter the Premises throughout the Term of this Agreement for the purposes of:
(1) determining whether the Premises are in conformity with applicable Environmental Law; (2) conducting an environmental review or investigation of the Premises; (3) determining whether Lessee has complied with the applicable
environmental requirements of this Agreement; (4) determining the corrective measures, if any, required of Lessee to ensure the safe use, storage, and disposal of Hazardous Materials; or (5) removing Hazardous Materials (except to the
extent used, stored, generated, treated, transported, or disposed of by Lessee in compliance with applicable Environmental Requirements and the terms of this Agreement). Lessee agrees to provide access and reasonable assistance for such inspections.
MDAD shall use its best efforts to reasonably minimize interruptions of business operations on the Premises. 

  

	 	(B)	 Such inspections may include, but are not limited to, entering the Premises or adjacent property with drill
rigs or other machinery for the purpose of obtaining laboratory samples of environmental conditions or soil or groundwater conditions. Lessee shall have the right to collect split samples of any samples collected by MDAD, MDAD shall not be limited
in the number of such inspections during the Term of this Agreement MDAD will conduct such inspections during Lessee’s normal business hours, but MDAD may conduct such inspections in other than normal business hours if the circumstances so
require. For inspections conducted by MDAD, MDAD agrees to provide Lessee with reasonable notice (not less than twenty four (24) hours) prior to inspecting the Premises; provided however, that such notice period shall not apply under
circumstances in which MDAD reasonably determines that there exists an immediate threat to the health, safety, or welfare of any persons. Based on the results of such inspections, should MDAD reasonably determine that Hazardous Materials have been
released, discharged, stored, or used on the Premises in violation of the terms of this Agreement, Lessee shall, in 

  
 18 

	 	
a timely manner, at its expense, remove such Hazardous Materials in a manner not inconsistent with applicable Environmental Law and otherwise comply with the reasonable recommendations of MDAD
and any regulatory authorities related to the results of such inspections. The right granted to MDAD herein to inspect the Premises shall not create a duty on MDAD’s part to inspect the Premises, nor liability of MDAD for Lessee’s use,
storage, or disposal of Hazardous Materials, it being understood that Lessee shall be solely responsible for all liability in connection therewith. MDAD shall provide the results of such inspections to the Lessee in a timely manner if requested to
do so in writing. Nothing herein shall be construed to limit, restrain, impair or interfere with County’s regulatory authority to conduct inspections and/or the manner in which it conducts such inspections. Lessee shall not be liable or
otherwise responsible for any property damage to the Premises or injury to any person caused by County, its agents or consultants during County’s inspection under this Section 8.09. 

8.10 Permits and Licenses: The Lessee warrants that it will secure at the times required by issuing authorities all applicable permits
or approvals that are required by any governmental authority having lawful jurisdiction to enable Lessee to conduct its obligations under this Agreement. Upon written request, Lessee shall provide to County copies of all permits, licenses,
certificates of occupancy, approvals, consent orders, or other authorizations issued to Lessee under applicable Environmental Requirements, as they pertain to the Lessee’s operations on or use of the Premises or Other Airport Property. 

8.11 Notice of Discharge to County: 
  

	 	(A)	 In the event of: (i) the happening of any material event involving the spill, release, leak, seepage,
discharge or clean-up of any Hazardous Material on the Premises or Other Airport Property in connection with Lessee’s operation thereon; or (ii) any written Environmental Claim affecting Lessee from
any person or entity resulting from Lessee’s use of the Premises or Other Airport Property, then Lessee shall immediately notify County orally within twenty-four (24) hours and in writing within three (3) business days of said notice.
If County is reasonably satisfied that Lessee is not promptly commencing the response to either of such events. County shall have the right but not the obligation to enter onto the Premises or to take such other actions as it shall deem reasonably
necessary or advisable to clean up, remove, resolve or minimize the impact of or otherwise deal with any such Hazardous Material or Environmental Claim following receipt of any notice from any person or any entity having jurisdiction asserting the
existence of any Hazardous Material or an Environmental Claim pertaining to the Premises, which if true, could result in an order, suit or other action against the County. If Lessee is unable to resolve such action in a manner which results in no
liability on the part of County, all reasonable costs and expenses incurred by County shall be deemed additional rent due County under this Agreement and shall be payable by Lessee upon demand, except to the extent they relate to a Baseline
Environmental Condition. 

  
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	 	(B)	 With regard to any reporting obligation arising out of Lessee’s operations or during the Agreement, Lessee
shall timely notify the State of Florida Department of Environmental Protection, Miami-Dade County Department of Environmental Resources Management, and the United States Environmental Protection Agency, as appropriate, with regard to any and all
applicable reporting obligations while simultaneously providing written notice to County. 

  

	 	(C)	 Within sixty (60) days of execution of this Agreement, Lessee shall submit to County an emergency action
plan/contingency plan setting forth in detail Lessee’s procedures for responding to spills, releases, or discharges of Hazardous Materials. The emergency action plan and/or contingency plan shall identify Lessee’s emergency response
coordinator and Lessee’s emergency response contractor. 

 8.12 Reports to County: For any year in which any
Hazardous Materials have been used, generated, treated, stored, transported or otherwise been present on or in the Premises, (or on or in other Airport property for purposes related to Lessee’s operations on the Premises), Lessee shall provide
County with a written report listing: the Hazardous Materials which were present on the Premises or other Airport property; all releases of Hazardous Material that occurred or were discovered on the Premises or other Airport property and which were
required to be reported to regulatory authorities under applicable Environmental Laws; all enforcement actions related to such Hazardous Materials, including all, consent agreements or other non-privileged
documents relating to such enforcement actions during that time period. In addition, Lessee shall provide County with copies of any reports filed in accordance with the Emergency Planning and Community Right to Know Act (EPCRA) and shall make
available for review upon request by County copies of all manifests for hazardous wastes generated from operations on the Premises. Lessee shall provide the report required under this section to the County by April 1 of each year for the
preceding calendar year. 
 8.13 Periodic Environmental Audits: Lessee shall establish and maintain, at its sole expense, a system to
assure and monitor its continued compliance on the Premises with all applicable Environmental Laws, which system shall include, no less than once each year a detailed review of such compliance (the “Environmental Audit”) by such consultant
or consultants as County may approve, which approval shall not be unreasonably withheld, delayed or conditioned. Alternatively, if the Aviation Department approves, which approval shall not be unreasonably withheld, delayed, or conditioned, such
Environmental Audit may be conducted by Lessee’s personnel but in either case Lessee shall provide County with a copy or summary of its report of its annual Environmental Audit, which shall be consistent with ASTM’s “Practice for
Environmental Regulatory Compliance Audits” which shall include in its scope the 

  
 20 

 
items listed in Exhibit K-13 hereto or other recognized format approved by County. If the Environmental Audit indicates any unresolved violation of any
applicable Environmental Law and/or Environmental Requirements, Lessee shall, at the request of County, provide a detailed review of the status of any such violation within thirty (30) days of the County’s request. 

8.14 Remediation of Hazardous Material Releases: If Lessee or Lessee’s agents, employees, contractors, invitees or trespassers
cause any Hazardous Materials to be released, discharged, or otherwise located on or about the Premises or Other Airport Property during the term of this Agreement (“Hazardous Material Release”), Lessee shall promptly take all actions, at
its sole expense and without abatement of rent, as are reasonable and necessary to return the affected portion of the Premises or Other Airport Property and any other affected soil or groundwater to their condition existing prior to the Hazardous
Material Release in a manner not inconsistent with applicable Environmental Law. County shall have the right to approve all such remedial work, including, without limitation: (i) the selection of any contractor or consultant Lessee proposes to
retain to investigate the nature or extent of such Hazardous Material Release or to perform any such remedial work; (ii) any reports or disclosure statements to be submitted to any governmental authorities prior to the submission of such
materials; and (iii) any proposed remediation plan or any material revision thereto prior to submission to any governmental authorities. The County’s approvals shall not be unreasonably withheld, conditioned or delayed. Notwithstanding the
foregoing, County’s prior consent shall not be necessary if a Hazardous Material Release poses an immediate threat to the health, safety, or welfare of any persons and, despite Lessee’s best efforts, it is not practicable to obtain
County’s consent before taking remedial action to abate such immediate threat, provided that: (a) Lessee shall notify County as soon as possible and shall thereafter obtain County’s consent as otherwise provided in this paragraph; and
(b) Lessee shall take only such action as may be necessary or appropriate to abate such immediate threat and shall otherwise comply with the provisions of this paragraph. In addition to any rights reserved by County in this Agreement, County
shall have the right, but not the obligation, to participate with Lessee, Lessee’s consultants and Lessee’s contractors in any meetings with representatives of the governmental authorities and Lessee shall provide County reasonable notice
of any such meetings. All remedial work shall be performed in compliance with all applicable Environmental Laws. The County’s consent to any remedial activities undertaken by Lessee shall not be withheld so long as County reasonably determines
that such activities will not cause any material adverse long-term or short-term effect on the Premises, or other adjoining property owned by County. Lessee’s obligations in this section do not apply to Baseline Environmental Conditions. 

8.15 Indemnity: Lessee shall indemnify, defend (with counsel reasonably satisfactory to County), and hold County, its directors,
officers, employees, agents, assigns, and any successors to County’s interest in the Premises, harmless from and against any and all loss, cost, damage, expense (including reasonable attorneys’ fees), claim, cause of action, judgment,
penalty, fine, or liability, directly or indirectly, relating to or arising from the use, storage, release, discharge, handling, or presence of 

  
 21 

 
Hazardous Materials on, under, or about the Premises or Other Airport Property and caused by Lessee, Lessee’s agents, employees, contractors, invitees or trespassers. This indemnification
shall include without limitation: (a) personal injury claims; (b) the payment of liens; (c) diminution in the value of the Premises or Other Airport Property; (d) damages for the loss or restriction on use of the Premises or Other
Airport Property; (e) sums paid in settlement of claims; (f) reasonable attorneys’ fees, consulting fees, and expert fees, (g) the cost of any investigation of site conditions, and (h) the cost of any repair, cleanup, remedial,
removal, or restoration work or detoxification if required by any governmental authorities or deemed necessary in County’s reasonable judgment, but shall not extend to such claims, payment, diminution, damages, sums, fees or costs to the extent
caused (i) solely by an act of God or (ii) by the negligent or willful misconduct of the County, its officers, employees, contractors or agents. For any legal proceedings or actions initiated in connection with the Hazardous Materials
Release, County shall have the right at its expense but not the obligation to join and participate in such proceedings or actions in which the County is a named party, and control that portion of the proceedings in which it is a named party. County
may also negotiate, defend, approve, and appeal any action in which County is named as a party taken or issued by any applicable governmental authorities with regard to a Hazardous Materials Release; provided, however, claims for which Lessee may be
liable pursuant to this Article 8.15 shall not be settled without Lessee’s consent. Any costs or expenses incurred by County for which Lessee is responsible under this paragraph or for which Lessee has indemnified County: (i) shall be paid
to County on demand, during the term of this Agreement as additional rent; and (ii) from and after the expiration or earlier termination of the Agreement shall be reimbursed by Lessee on demand. Lessee’s obligations pursuant to the
foregoing indemnity shall survive the expiration or termination of this Agreement and shall bind Lessee’s successors and assignees and inure to the benefit of County’s successors and assignees. Notwithstanding any other provision of this
Agreement, this section 8.15 does not apply to Baseline Environmental Conditions or a discharge, disposal or release caused by the County, its officers, employees, contractors or agents. 

 

	 	(A)	 This indemnity specifically includes the direct obligation of Lessee to perform, at its sole cost and expense,
any remedial or other activities required or ordered by court or agency having competent jurisdiction over the subject matter, or otherwise necessary to avoid or minimize injury or liability to any person, or to prevent the spread of Hazardous
Materials. 

  

	 	(B)	 In addition, because costs of Hazardous Materials discharges are passed on to airlines through the residual
rate charging mechanism at Miami International Airport and the charges to Lessee will be increased to offset such costs. Lessee agrees in order to minimize its obligations in this regard to use best efforts to assist the Aviation Department in
responding to Hazardous Materials spills in or Airport property reasonably close the Premises used by Lessee by making Lessee’s remediation equipment and personnel available for such emergency remediation activity. However, Lessee may provide
such assistance only at the direct request of the Aviation Department and only if Lessee’s remediation equipment is 

  
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intended to be utilized for the Hazardous Material spill at issue and only if Lessee’s personnel have been trained to respond to the Hazardous Material spill at issue. If Lessee is directed
to perform any remedial work under this Article 8.15(B) for which it is later determined that Lessee is not responsible, the Aviation Department shall reimburse Lessee for all costs associated with or arising out of Lessee’s performance of such
remedial work. Lessee shall cooperate with the Aviation Department in any subsequent effort by the Aviation Department to recover from the responsible parties all costs involved with the remediation effort that utilized Lessee’s equipment and
personnel. Lessee shall perform all such work in its own name in accordance with applicable laws. Lessee acknowledges that the County’s regulatory power in this regard is independent of the County’s contractual undertakings herein, and
nothing herein shall affect the County’s right in its regulatory capacity to impose its environmental rules, regulations, and authorities upon the Lessee in accordance with the law. 

 

	 	(C)	 In the event Lessee fails to perform its obligations in Article 8.15(A) above, and without waiving its rights
hereunder, County may, at its option, perform such remedial work as described in Article 8.15(A) above, and thereafter seek reimbursement for the costs thereof. In accordance with this Article 8, Lessee shall permit County or its designated
representative access to the Premises areas to perform such remedial activities. 

  

	 	(D)	 Whenever County has incurred costs described in this section as a result of the failure of Lessee to perform
its obligations hereunder, Lessee shall, within thirty (30) days of receipt of notice thereof, reimburse County for all such expenses together with interest at the rate of 1 1/2 % per
month on the outstanding balance commencing on the thirty-first date following Lessee’s receipt of such notice until the date of payment. 

  

	 	(E)	 To the extent of Lessee’s responsibility under this Article and without limiting its obligations under any
other paragraph of this Agreement, and except to the extent of County’s responsibility for environmental conditions set forth in this Article 8, Lessee shall be solely and completely responsible for responding to and complying with any
administrative notice, order, request or demand, or any third party claim or demand relating to potential or actual Hazardous Materials contamination on the Premise. Lessee’s responsibility under this paragraph includes but is not limited to
responding to such orders on behalf of County and defending against any assertion of County’s financial responsibility or individual duty to perform under such orders. Lessee shall assume, pursuant to the indemnity provision set forth in this
Article 8, any liabilities or responsibilities which are assessed against County in any action described under this paragraph. 

  
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 8.16 Dispute Resolution: County and Lessee agree that any dispute between them
relating to this Article 8 will first be submitted, by written notice, to a designated representative of both County and Lessee who will meet at County’s place of business or other mutually agreeable location, or by teleconference, and confer
in an effort to resolve such dispute. Any decision of the representatives will be final and binding on the parties. In the event the representatives are unable to resolve any dispute within ten (10) days after submission to them, either party
may refer the dispute to mediation, or institute any other available legal or equitable proceeding in order to resolve the dispute. 
 8.17
Waiver and Release: Lessee, on behalf of itself and its heirs, successors and assigns, hereby waives, releases, acquits and forever discharges County, its principals, officers, directors, employees, agents, representatives and any other
person acting on behalf of the County, and the successors and assigns of any of the preceding, of and from any and all claims, actions, causes of action, demands, rights, damages, costs, expenses or compensation whatsoever, direct or indirect, known
or unknown, foreseen or unforeseen, which Lessee or any of its heirs, successors, or assigns now has or which may arise in the future on account of or in any way related to or in connection with any past, present or future physical characteristic or
condition of the Premises, including, without limitation, any Hazardous Material in, at, on, under or related to the Premises, or any violation or potential violation of any Environmental Law applicable thereto; provided, however, this Article 8.17
shall not constitute a waiver or release of any obligation of County under this Article 8. Lessee acknowledges that County would not enter into this Agreement without Lessee’s agreement to the waiver and release provided herein. 

8.18 No Waiver of Rights, Causes of Actions or Defenses. Notwithstanding any language in this Agreement, including without limitation
Articles 8.03, 8.04, 8.05, 8.06, 8.14, 8.15 and 8.16, Lessee does not agree to waive or release any rights, causes of action or defenses it may have against Miami-Dade County or any other party related to allegations made by the County in
(i) Case No. 01-8758 CA 25 which has been filed by the County in the Florida Circuit Court of the Eleventh Judicial Circuit, and (ii) a letter dated April 9, 2001, to Lessee and others (who
are referred to as “responsible parties” or “RPs”). Nothing herein shall be construed to limit or expand upon any releases previously granted to or exchanged between the parties as a result of judgments or settlements obtained in
proceedings between the parties, including, without limitation, settlements in bankruptcy or settlements entered under Case No. 01-8758 CA 25 which has been filed by the County in the Florida Circuit
Court of the Eleventh Judicial Circuit. 
 8.19 Surrender of Premises: Lessee shall surrender the Premises used by Lessee to County
upon the expiration or earlier termination of this Agreement free of debris, waste, and Hazardous Materials used, stored, or disposed of by Lessee or its agents, employees, contractors, invitees or Trespassers, or otherwise discharged on the
Premises or Other Airport Property for which Lessee is responsible during the term of this Agreement. The Premises shall be surrendered in a condition that complies with all applicable Environmental Requirements, and such other reasonable
environmental requirements as may be imposed by County. Lessee shall not be responsible under this section 8.19 to the extent of County’s obligations under this Article 8. 

  
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 8.20 Breach: Any breach by Lessee of any provision of this Article 8 shall, after
notice and a reasonable opportunity for Lessee to cure, constitute a default of the Agreement and shall entitle County to exercise any and all remedies provided in the Agreement, or as otherwise permitted by law. 

8.21 Survivability of Terms: the terms and conditions of this Article 8, including the indemnity, waiver, and release, shall survive
the termination of this Agreement. 
 8.22 Right to Regulate: As provided for in Article 20.12 of this Agreement, nothing within this
Article 8 shall be construed to waive or limit, restrain, impair or interfere with the County’s regulatory authority. 
 ARTICLE 9

 Indemnification and Hold Harmless 

The Lessee shall indemnify and hold harmless the County and its officers, employees, agents and instrumentalities from any and all liability, losses or
damages, including attorneys’ fees and costs of defense, which the County or its officers, employees, agents or instrumentalities may incur as a result of claims, demands, suits, causes of actions or proceedings of any kind or nature arising
out of, relating to or resulting from the performance of this Agreement or the use of the Premises or the Airport by the Lessee or its employees, agents, servants, partners, principals, invitees, trespassers, contractors, or
subcontractors. Lessee shall pay all claims and losses in connection therewith and shall investigate and defend all claims, suits or actions of any kind or nature in the name of the County, where applicable, including appellate proceedings, and
shall pay costs, judgments and attorney’s fees which may issue thereon. Lessee expressly understands and agrees that any insurance protection required by this Agreement or otherwise provided by Lessee shall in no way limit the responsibility to
indemnify, keep and save harmless and defend the County or its officers, employees, agents and instrumentalities as herein provided. The County shall give to the Lessee reasonable notice of any such claims or actions. The provisions of this section
shall survive the expiration or early termination of this Agreement. 
 ARTICLE 10 

Assignment and Subletting 
 The Lessee
shall not assign, transfer, pledge, or otherwise encumber this Agreement, or sublet all or any portion of the Premises, nor allow others to use the Premises without the express prior written consent of the Department. 

  
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 ARTICLE 11 

Insurance 
 11.01
Insurance Required: In addition to such insurance as may be required by law, the Lessee shall maintain, without lapse or material change, for so long as it occupies the Premises, the following insurance: 

 

	 	(A)	 Commercial General Liability Insurance on a comprehensive basis, including Contractual Liability, to cover the
Lessee’s Premises and operations, in an amount not less than $1,000,000 combined single limit per occurrence for bodily injury and property damage. The County must be shown as an additional insured with respect to this coverage.

  

	 	(B)	 Automobile Liability Insurance covering all owned, non-owned and hired
vehicles used by the Lessee in connection with its operations under this Agreement in an amount not less than: 

 (1)
$5,000,000 combined single limit per occurrence for bodily injury and property damage covering vehicles to be used by the Lessee on the AOA. 

(2) $300,000 combined single limit per occurrence for bodily injury and property damage covering vehicles to be used by the Lessee off of the
AOA. 
  

	 	(C)	 [Reserved] 

  

	 	(D)	 Workers Compensation insurance as required by law. 

The insurance coverages required shall include those classifications, as listed in standard liability insurance manuals, which most nearly reflect the
operations of the Lessee under this Agreement. All insurance policies required pursuant to the terms of this Agreement shall be issued in companies approved to do business under the laws of the State of Florida. Such companies must be rated no less
than “A-” as to management, and no less than “VII” as to strength in accordance with the latest edition of “Best’s Insurance Guide”, published by A.M. Best Company, Inc., or
its equivalent, subject to approval of the County Risk Management Division. 
 11.02 Insurance Certificates Required: Prior to the
commencement of operations hereunder and annually thereafter, the Lessee shall furnish or cause to be furnished certificates of insurance to the Department which certificates shall clearly indicate that: 

 

	 	(A)	 The Lessee has obtained insurance in the types, amounts and classifications as required for strict compliance
with this Article; 

  

	 	(B)	 The policy cancellation notification provisions specify at least 30 days advance written notice of cancellation
to the County; and 

  
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	 	(C)	 The County is named as an additional insured with respect to the Lessee’s public liability policies.

 On said insurance certificates, unless specifically shown to be excluded thereon, comprehensive public liability coverage shall include
contractual liability, and notification of cancellation shall include notification of material changes in the policies. The County reserves the right to require the Lessee to provide such reasonably amended insurance coverage as it deems necessary
or desirable, upon issuance of notice in writing to the Lessee, which notice shall automatically amend this Agreement effective 30 days after such notice. 

11.03 Compliance: Compliance with the requirements of this Article 11 (Insurance) shall not relieve the Lessee of its liability under
any other portion of this Agreement or any other agreement between the County and the Lessee. 
 11.04 Right to Examine: The
Department reserves the right, upon reasonable notice, to examine the original or true copies of policies of insurance (including but not limited to binders, amendments, exclusions, riders and applications) to determine the true extent of coverage.
The Lessee agrees to permit such inspection at the offices of the Department. 
 11.05 Personal Property: Any personal property of
the Lessee or of others placed in the Premises and Airport shall be at the sole risk of the Lessee or the owners thereof, and the County shall not be liable for any loss or damage, except to the extent such loss or damage was caused by the sole
active negligence of the County, as limited by Section 768.28, Florida Statutes. 
 ARTICLE 12 

Use of Public Facilities 
 The County
grants to the Lessee, in common with all others desiring to use Building 919 (5A), and only to the extent necessary or reasonably desirable, so long as such use does not conflict with the County’s operation of the Airport, to carry out the
rights granted the Lessee hereunder, the nonexclusive privilege to use the roads of egress and ingress, service roads and such other facilities and improvements as may be now in existence or hereafter constructed for the use of persons lawfully
using Building 919 (5A); provided, however, that such usage shall be subject to the payment of nondiscriminatory fees and other charges established by the County. Nothing herein contained shall grant to the Lessee the right to use any leasable space
or area improved or unimproved which is leased to a third party, or which the County has not leased herein. 

  
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 ARTICLE 13 

Termination 
 13.01
Payment Defaults: Failure of the Lessee to make all payments of rentals, fees and charges required to be paid herein when due shall constitute a default, and the County may, at its option terminate this Agreement after seven calendar days
notice in writing to the Lessee unless the default be cured within the notice period. Such termination shall not relieve the Lessee of its rental payment obligation for the remaining term of the agreement nor does it constitute a waiver by the
Lessor of its rights to recover damages for rental payments for the remaining term of the agreement. 
 13.02 Insurance Defaults: The
County shall have the right, upon seven calendar days written notice to the Lessee, to terminate this Agreement if the Lessee fails to provide evidence of insurance coverage in strict compliance with Article 11 hereof prior to commencement of
operations, or fails to provide a renewal of said evidence upon its expiration; provided, however, that such termination shall not be effective if the Lessee provides the required evidence of insurance coverage within the notice period. 

13.03 Other Defaults: The County shall have the right, upon 30 calendar days written notice to the Lessee, to terminate this Agreement
upon the occurrence of any one or more of the following, unless the same shall have been corrected within such period, or, if correction cannot reasonably be completed within such 30-day period, in the sole
discretion of the Department, the Lessee has commenced substantial corrective steps within such 30-day period and diligently pursues same to completion: 

 

	 	(A)	 Failure of the Lessee to comply with any covenants of this Agreement, other than the covenants to pay rentals,
fees and charges when due, and the covenants to provide required evidence of insurance coverage. 

  

	 	(B)	 The conduct of any business, the performance of any service, or the merchandising of any product or service not
specifically authorized herein, by the Lessee. 

  

	 	(C)	 Failure of the Lessee to comply with any Environmental Law or Environmental Requirement as those terms are
defined in Article 8.01 of this Agreement. 

 13.04 Habitual Default: Notwithstanding the foregoing, in the event
that the Lessee has frequently, regularly or repetitively defaulted in the performance of or breached any of the terms, covenants and conditions required herein to be kept and performed by the Lessee, in the sole opinion of the County and regardless
of whether the Lessee has cured each individual condition of breach or default as provided in Articles 13.01 (Payment Defaults), 13.02 (Insurance Defaults) and 13.03 (Other Defaults) hereinabove, the Lessee shall be determined by the Director to be
an “habitual violator.” At the time that such determination is made, the Department shall issue to the Lessee a written notice advising of such determination and citing the 

  
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circumstances therefor. Such notice shall also advise the Lessee that there shall be no further notice or grace periods to correct any subsequent breach(es) or default(s) and that any subsequent
breach(es) or default(s), of whatever nature, taken with all previous breaches and defaults, shall be considered cumulative and, collectively, shall constitute a condition of non-curable default and grounds
for immediate termination of this Agreement. In the event of any such subsequent breach or default, the County may cancel this Agreement upon the giving of written notice of termination to the Lessee, such termination to be effective upon the tenth
day following the date of receipt thereof and all payments due hereunder shall be payable to said date, and the Lessee shall have no further rights hereunder. 

13.05 Termination by Abandonment: This Agreement shall be automatically terminated upon the abandonment by the Lessee of the Premises
or the voluntary discontinuance of operations at the Airport for any period of time exceeding 15 consecutive calendar days, unless such abandonment or discontinuance has been caused by strike, labor disturbance, acts of God, civil disturbance or
governmental order that prevents the Lessee’s use of the Premises for the purposes authorized in Article 2 (Use of Premises) hereof. Such termination shall not relieve the Lessee of its rental payment obligation for the remaining term of the
agreement nor does it constitute a waiver by the Lessor of its rights to recover damages for rental payments for the remaining term of the agreement. 

13.06 Actions at Termination: The Lessee shall vacate, quit, surrender up and deliver the Premises to the County on or before the
termination date of this Agreement, whether by lapse of time or otherwise. The Lessee shall surrender the Premises in the condition required under Article 4.03 (Maintenance and Repairs) herein. All repairs for which the Lessee is responsible shall
be completed prior to surrender. The Lessee shall deliver to the Department all keys to the Premises upon surrender. On or before the termination date of this Agreement, except in the instance of termination pursuant to Article 13.05 (Termination by
Abandonment), in which event the Lessee shall be allowed up to five calendar days from date of termination, and provided that the Lessee is not in default in the payment of any rentals, fees or charges required to be paid herein, the Lessee shall
remove all of its personal property from the Premises. Any personal property of the Lessee not removed in accordance with this Article may be removed by the Department for storage at the cost of the Lessee. Failure on the part of the Lessee to
reclaim its personal property within 30 days from the date of termination shall constitute a gratuitous transfer of title thereof to the County for whatever disposition is deemed to be in the best interest of the County. 

The Lessee shall, at its expense, take all actions required by Federal, State and local laws, regulations or codes to remove from the Premises any hazardous
substance or environmental contaminant, whether stored in drums, or found in vats, containers, distribution pipelines, or the like. All such substances and contaminants shall be removed by the Lessee in a manner approved and authorized by such
Federal, State or local laws, regulations or codes. 

  
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 If the County advises the Lessee that it has reasonable grounds to believe that any hazardous substance or
environmental contaminant has been released within the Premises or into the ground under the Premises, during the term of this Agreement or during the terms of any prior leases between the Lessee and the County for the same or substantially the same
Premises, then the Lessee at its sole cost and expense shall retain an approved environmental consultant to perform whatever environmental assessment may be required to determine the extent of such release. The Lessee shall comply with the
recommendations and conclusions, contingent upon County approval, of such consultant regarding environmental clean-up efforts that may be required, and shall comply with any other clean up requirements imposed
on the Lessee by Federal, State or local law, regulations or codes. 
 13.07 Lien Upon Personal Property: In the event of termination
for default or upon termination of this Agreement by its term, the County shall have a lien upon all personal property of the Lessee to secure the payment of any unpaid rentals, fees and charges accruing under the terms of this Agreement. 

13.08 Right to Show Premises: At any time after the Lessee has been given notice of termination or default, pursuant to Article 13
(Termination) hereof, the County shall have the right to enter on the Premises for the purpose of showing the Premises to prospective tenants or users. 

13.09 County Defaults: This Agreement shall be subject to termination by the Lessee in the event of a default by the County in the
performance of any covenant or agreement herein required to be performed by the County and the failure of the County to remedy same within a reasonable period of time following receipt of written notice from the Lessee of such default. 

13.10 Other Terminations: This Agreement shall be subject to termination by the County or the Lessee in the event of any one or more of
the following: 
  

	 	(A)	 The permanent abandonment of the Airport. 

 

	 	(B)	 The lawful assumption by the United States Government or any authorized agency thereof, of the operation,
control or use of the Airport, or any substantial part or parts thereof, in such a manner as to substantially restrict the Lessee from operating therefrom for a period in excess of 90 consecutive days, provided that nothing contained herein shall be
deemed to constitute a waiver by the Lessee of any right it may have against the United States to just compensation in the event of any such assumption. 

  

	 	(C)	 The issuance by any court of competent jurisdiction of any injunction in any way substantially preventing or
restraining the use of the Airport, and the remaining in force of such injunction for a period in excess of 90 days. 

  
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 ARTICLE 14 

Special Conditions 
 14.01
Quality of Services: The Lessee shall furnish the services required and authorized, pursuant to Article 2 (Use of Premises) hereof, on a good, prompt and efficient basis and on a fair, equal and not unjustly discriminatory basis to all users
thereof. 
 14.02 Nondiscriminatory Prices: The Lessee shall charge fair, reasonable, customary and not unjustly discriminatory
prices for each unit of sale or service; provided, however, that the Lessee may make reasonable, customary and nondiscriminatory discounts, rebates or similar types of price reductions to volume purchasers of the Lessee’s services. 

14.03 County’s Obligations: The Lessee, in recognition of the County’s obligation, pursuant to Section 22 of Part V of
the Federal Aviation Administration’s standard grant assurances, to enforce the provisions of Articles 14.01 (Quality of Services) and 14.02 (Nondiscriminatory Prices) above, agrees that the Department may, from time to time, promulgate
standards, methods and procedures for and monitor and test the provision of services hereunder and may require the Lessee to provide copies of schedules of service charges and the bases for discounts, rebates and similar types of price reductions.
Should the Department determine that the Lessee is not in compliance with the provisions of Articles 14.01 (Quality of Services) and 14.02 (Nondiscriminatory Prices) above, the first such occurrence shall be considered a curable default, pursuant to
Article 13.03 (Other Defaults) hereof, and subsequent occurrence(s) shall be considered a material breach of this Agreement, entitling the County to the remedies provided in this Agreement or by law. 

ARTICLE 15 
 Equal
Employment Opportunity, Nondiscrimination and Affirmative Action 
 15.01 Equal Employment Opportunity: In accordance with Title
14 Code of Federal Regulation (CFR) Part 152 (Affirmative Action Employment Program), the Lessee shall not discriminate against any employee or applicant for employment because of age, sex, race, color, religion, marital status, place of birth or
national origin, ancestry, in accordance with the Americans with Disabilities Act, discriminate against any otherwise qualified employees or applicants for employment with disabilities who can perform the essential functions of the job with or
without reasonable accommodation. The Lessee shall take affirmative actions’ to ensure that applicants are employed and that employees are treated during their employment without regard to age, sex, race, color, religion, marital status, place
of birth or national origin, ancestry, or disability. Such actions include, but not limited to, the following: Employment, upgrading, transfer or demotion, recruitment advertising, layoff or termination, rates of pay or other forms of compensation,
selection for training including apprenticeship. 

  
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 The Lessee agrees to post in conspicuous places, available to employees and applicants for employment,
notices to be provided by the County setting forth the provisions of this equal Employment Opportunity clause. The Lessee shall comply with all applicable provisions of the Civil Rights Act of 1964; Executive Order 11246 issued September 24,
1965, as amended by Executive Order 113155, revised Order No. 4 issued December 1, 1951, as amended, and the Americans with Disabilities Act. The Age Discrimination in Employment Act effective June 12, 1968, Executive Order 13166
issued August 11, 2000, Improving Access to Services for persons with Limited English Proficiency (LEP), the rules, regulations and relevant orders of the Secretary of Labor, Florida Statues § 112.041, §112.042, §112.043 and the
Miami-Dade County Code, Section 11A1 through 13A1, Articles 3 and 4. 
 The Lessee shall assign responsibility to one of its officials to develop
procedures that will assure that the policies of Equal Employment Opportunity and Affirmative Action are understood and implemented. 

15.02 Nondiscriminatory Access to Premises: The Lessee, for itself, its sublessees, successors in interest, assigns, and contractors
(herein collectively for this Section 15.02 the “Lessee”) , as part of the consideration hereof, does hereby covenant and agree that (1) no person on the ground of race, color, or national origin, will be excluded from
participation in, denied the benefits of, or be otherwise subject to discrimination in, the use of the Premises and improvements hereunder, (2) that in the construction of any improvements on, over, or under the Premises hereunder, and the
furnishing of services therein or thereon, no person on the ground of race, color, or national origin, will be excluded from participation in, denied the benefits of, or otherwise be subjected to discrimination, and (3) that the Lessee will use
the Premises and improvements in compliance with all other requirements imposed by or pursuant to the List of Nondiscrimination Acts and Authorities attached hereto as Exhibit R-02. 

15.03 Breach of Nondiscrimination Covenants: In the event it has been determined that the Lessee has breached any enforceable
nondiscrimination covenants contained in Section 15.01 Equal Employment Opportunity and Section 15.02 Nondiscriminatory Access to premises above, pursuant to the complaint procedures contained in the applicable Federal Regulations, and the
Lessee fails to comply with the sanctions and/or remedies which have been prescribed, the County shall have the right to terminate this Agreement pursuant to the Termination of the Agreement section hereof. 

15.04 Nondiscrimination: During the performance of this Agreement, the Lessee agrees as follows: The Lessee shall, in all solicitations
or advertisements for employees placed by or on behalf of the Lessee, state that all qualified applicants will receive consideration for employment without regard to age, sex, race, color, religion, marital status, place of birth or national origin,
ancestry physical handicap or disability. The Lessee shall furnish all information and reports required by Executive Order 11246 issued September 24, 1965, as amended by Executive Order 113155, and by rules, regulations, and orders of the
Secretary of Labor, or pursuant thereto, and will permit access to the Lessee books, records, accounts by the County and Compliance Review 

  
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Agencies for purposes of investigation to ascertain by the compliance with such rules, regulations, and orders. In the event of the Lessee’s noncompliance with the nondiscrimination clauses
of this Agreement or with any of the said rules, regulations, and orders, this Agreement may be canceled, terminated, or suspended in whole or in part in accordance with the Termination of Agreement section hereof and the Lessee may be declared
ineligible for further contracts in accordance with procedures authorized in Executive Order 11246 of September 24, 1965, as amended by Executive Order 113155 and such sanctions as may be imposed and remedies invoked as provided in Executive
Order 113155 and such sanctions as may be imposed and remedies invoked as provided in Executive Order 11246 as amended or by rules, regulations, and orders of the Secretary of Labor, or as otherwise provided by law. 

The Lessee will include Section 15.01 Equal Employment Opportunity and Section 15.02 Nondiscriminatory Access to Premises of this Article in the
Lessee sub-contracts in excess of $10,000.00, unless exempted by rules, regulations or orders of the Secretary of Labor issued pursuant to Section 204 of Executive Order 11246 issued September 24,
1965, as amended by Executive Order 113155, so that such provisions will be binding upon each sub-consultant. The Lessee shall take such action with respect to any
sub-contract as the County may direct as a means of enforcing such provisions, including sanctions for noncompliance; provided, however, that in the event the Lessee becomes involved in, or is threatened with,
litigation with a sub-consultant as the result of such direction by the County or by the United States, the Lessee may request the United States to enter into such litigation to protect the interests of the
United States. 
 15.05 Disability Nondiscrimination Affidavit: By entering into this Agreement with the County and signing the
Disability Nondiscrimination Affidavit, the Lessee attests that this is not in violation of the Americans with Disabilities Act of 1990 (and related Acts) or Miami-Dade County Resolution No. R-385-95. If the Lessee or any owner, subsidiary or other firm affiliated with or related to the Lessee is found by the responsible enforcement officer of the Courts or the County to be in violation of the
Act or the Resolution, such violation shall render this Contract terminable in accordance with the Termination of Agreement section hereof. This Contract shall be void if the Lessee submits a false affidavit pursuant to this Resolution or the Lessee
violated the Act or the Resolution during the term of this Contract, even if the Lessee was not in violation at the time it submitted its affidavit. 

15.06 Affirmative Action/Nondiscrimination of Employment Promotion and Procurement Practices: (County Code Section 2-8.1.5): In accordance with the requirements of County Code Section 2-8.1.5, all firms with annual gross revenues in excess of $5 million seeking to
contract with Miami-Dade County shall, as a condition of award, have a written Affirmative Action Plan and Procurement Policy on file with the County’s Department of Procurement Management. Said firms must also submit, as a part of their Lease
to be filed with the Clerk of the Board, an appropriately completed and signed Affirmative Action Plan/Procurement Policy Affidavit. 

  
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 Firms whose Boards of Directors are representative of the population
make-up of the nation are exempt from this requirement and must submit, in writing, a detailed listing of their Boards of Directors, showing the race or ethnicity of each board member, to the County’s
Department of Procurement Management. Firms claiming exemption must submit, as part of their Lease to be filed with the Clerk of the Board, an appropriately completed and signed Exemption Affidavit in accordance with the County Code Section 2-8.1.5. These submittals shall be subject to periodic reviews to assure that the entities do not discriminate in their employment and procurement practices against minorities and women owned
businesses. 
 It will be the responsibility of each firm to provide verification of their gross annual revenues to determine the requirement for compliance
with the County Code Section. Those firms that do not exceed $5 million annual gross revenues must clearly state so in their Lease. 

ARTICLE 16 
 Security and
Special Provisions 
 16.01 Security: The Lessee acknowledges and accepts full responsibility for (i) the security and
protection of the Premises, any improvements thereon, its equipment and property on the Airport and (ii) all breaches of federal and Lessor security requirements by Lessee’s employees or those persons for whom Lessee has responsibility
under Article 16.02, and (iii) control of access to the AOA through the Premises by persons and vehicles. The Lessee fully understands and acknowledges that any security measures deemed necessary by the Lessee for the protection of said
Premises, equipment and property shall be the sole responsibility of the Lessee and shall involve no cost to the County. Lessee is responsible for compliance by its employees and all others for whom it is responsible with applicable security
requirements relating to access, through Lessee’s Premises or otherwise, to the AOA or any Security Identification Display Area (“SIDA”). All such security measures by the Lessee shall be in accordance with FAR 107, 49 CFR Part 1542
and the Airport Security Plan. 
 16.02 Security Identification Display Areas Access - Identification Badges: The Lessee shall be
responsible for (i) assuring that all of Lessee’s employees, and all employees and persons of entities using the Premises or a SIDA on behalf of Lessee (collectively herein, the “SIDA Users”), have appropriate SIDA Identification
Badges and comply with all federal and Lessor security requirements applicable to the Premises and SIDAs, (ii) immediately reporting to MDAD all lost or stolen ID badges of a SIDA User, and (iii) immediately returning the ID badges of any
SIDA User that is transferred from the Airport or terminated from the employ of the Lessee or upon termination of this Agreement. Each employee must complete the SIDA training program conducted by the Department, before an ID badge is issued. The
Lessee shall pay, or cause to be paid, to the Department any fines or penalties imposed on Lessor for a violation of the security requirements by a SIDA User as well as such nondiscriminatory charges, as may be established from time to time, for
lost or stolen ID badges and those not returned to the Department in accordance with this Article. 

  
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 The Department shall have the right to require the Lessee to conduct background investigations and to
furnish certain data on such employees before the issuance of ID badges, which data may include the fingerprinting of employee applicants for the badges. 

16.03 AOA - Driver Training: Before the Lessee shall permit any employee to operate a motor vehicle of any kind or type on the AOA, the
Lessee shall require such employee to attend and successfully complete the AOA Driver Training Course conducted from time to time by the Department. The privilege of a person to operate a motor vehicle on the AOA may be withdrawn by the Department
for any violation of AOA driving rules. Notwithstanding the above, the Lessee shall be responsible for ensuring that all such vehicle operators possess current, valid, appropriate Florida driver’s licenses. 

16.04 Alcohol and Drug Testing: The Lessee acknowledges that the County, as a public agency sponsor under the provisions of the Airport
and Airway Improvement Act of 1982, as amended (the “Act”), has the obligation to establish a drug free workplace and to establish policies and programs to ensure airport safety and security. The Lessee acknowledges that the Department, on
behalf of the County, has the right to require users of the Airport (Lessees, Permittees, Licensees, etc.) to establish reasonable programs to further the achievement of the objectives described herein. Accordingly, the Lessee shall establish
programs for pre-employment alcohol and drug screening for all candidates for employment at the Airport who will as a part of their duties (a) be present on the AOA; (b) operate a motor vehicle of
any type on the AOA; or (c) operate any equipment, motorized or not, on the AOA and for the same or similar screening based upon a reasonable suspicion that an employee, while on duty on the AOA, may be under the influence of alcohol or drugs.
Notwithstanding the above, the Lessee specifically acknowledges that the County, acting through the Department, has the right and obligation to deny access to the AOA and to withdraw AOA driving privileges from any person who it has a reasonable
suspicion to believe is under the influence of alcohol or drugs. 
 16.05 Drug-Free Workplace Default: The Lessee acknowledges it has
provided to the County a Drug-Free Workplace Affidavit certifying that it is providing a drug-free workplace for its employees, as required by County Ordinance No. 92-15, adopted on March 17, 1992,
as may be amended from time to time (“Ordinance”). Based on the provisions of said Ordinance, the County shall have the right, upon 30 days written notice to the Lessee, to terminate this Agreement in the event the Lessee fails to provide,
as of each anniversary of the effective date of this Agreement, the annual re-certification affidavit as required by the Ordinance; provided, however, that such termination shall not be effective if the Lessee
submits the required Affidavit within the notice period. 

  
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 Further, this Agreement shall be terminated upon not less than fifteen calendar days written notice to the
Lessee and without liability to the County, if the Department or the County Manager determines any of the following: 
  

	 	(A)	 That the Lessee has made a false certification in its execution of the Affidavit submitted or in its annual re-certification as required by the Ordinance; 

  

	 	(B)	 That the Lessee has violated its original or renewal certification by failing to carry out any of the specific
requirements of the Ordinance, other than the annual re-certification; or 

  

	 	(C)	 That such a number of employees of the Lessee have been convicted of violations occurring in its workplace(s)
as to indicate that the Lessee has failed to make a good faith effort to provide a drug-free workplace as required by the Ordinance. 

16.06 Special Programs: The Lessee shall ensure that all employees so required participate in such safety, security and other training and
instructional programs, as the Department or appropriate Federal agencies may from time to time require. 
 16.07 Vehicle Permit and
Company Identification: Motor vehicles and equipment of the Lessee operating on the AOA must have an official motor vehicle identification permit issued pursuant to Operational Directives of the Department. In addition, company identification
must be conspicuously displayed thereon. 
 16.08 Federal Agencies Right to Consent: The Lessee understands and agrees that all
persons entering and working in or around arriving international aircraft and facilities used by the various Federal Inspection Services agencies may be subject to the consent and approval of such agencies. Persons not approved or consented to by
the Federal Inspection Services agencies shall not be employed by the Lessee in areas under the jurisdiction or control of such federal inspection agencies. 

16.09 AOA - Right to Search: The Lessee agrees that its vehicles, cargo, goods and other personal property are subject to being searched when
attempting to enter or leave and while on the AOA. The Lessee further agrees that it shall not authorize any employee or agent to enter the AOA unless and until such employee or agent has executed a written consent-to-search form acceptable to the Department. Persons not executing such consent-to-search form shall not be employed by
the Lessee at the Airport, in any job requiring access to the AOA. 
 It is further agreed that the Department has the right to prohibit an individual,
agent or employee of the Lessee from entering the AOA based upon facts which would lead a person of reasonable prudence to believe that such individual might be inclined to engage in theft, cargo tampering, aircraft sabotage or other unlawful
activities. Any person denied access to the AOA or whose prior authorization has been revoked or suspended on such grounds shall be entitled to a hearing before the Director of the Department or his authorized designee within a reasonable time.
Prior to such hearing, the person denied access to the AOA shall be advised, in writing, of the reasons for such denial. 

  
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 The Lessee acknowledges and understands that these provisions are for the protection of all users of the AOA
and are intended to reduce the incidence of thefts, cargo tampering, aircraft sabotage and other unlawful activities at the Airport. 

16.10 Right of Flight: There is hereby reserved to the County, its successors and assigns, for the use and benefit of the County and
the public, a right of flight for the passage of aircraft in the air space above the surface of the premises herein leased, together with the right to cause in said air space such noise as may be inherent in the operation of aircraft, now known or
hereafter used for navigation of or flight in the air, using said air space or landing at, taking off from or operating on Miami International Airport. 

16.11 Height Restrictions: The Lessee expressly agrees for itself, its successors and assigns, to restrict the height of structures,
objects of natural growth and other obstructions on the leased premises to such a height so as to comply with Federal Aviation Regulations, Part 77 and with the Code of Miami-Dade County, whichever is more restrictive. 

ARTICLE 17 
 Control of
Employees 
 17.01 Control of Employees: The Lessee shall properly control the actions of its employees at all times that said
employees are working on the Airport, ensuring that they present a neat appearance and discharge their duties in a courteous and efficient manner and that they maintain a high standard of service to the public. 

17.02 Lessee’s Responsibility for Employee’s Violations: In the event the Lessee is in default of the covenants of Article
17.01 (Control of Employees) for failure to properly control its employees or by permitting its employees to improperly use the facilities provided by the County, the Department shall have the right to require the Lessee to conduct an investigation
into any claimed violation of the covenants; if such investigation substantiates a violation, Lessee agrees to administer the appropriate discipline up to and including discharge of the offending employee. 

ARTICLE 18 
 Civil
Actions 
 18.01 Governing Law; Venue: This Agreement shall be governed and construed in accordance with the laws of the State of
Florida. The venue of any action on this Agreement shall be laid in Miami-Dade County, Florida, and any action to determine the rights or obligations of the parties hereto shall be brought in the courts of the State of Florida. 

  
 37 

 18.02 Notice of Commencement of Civil Action: In the event that the County or the
Lessee commence a civil action where such action is based in whole or in part on an alleged breach of this Agreement, the County and the Lessee agree that service of process shall be made pursuant to the rules of Civil Procedure in the court in
which the action has been filed. 
 18.03 Registered Office/Agent; Jurisdiction: Notwithstanding the provisions of Article 18.02
(Notice of Commencement of Civil Action), and in addition thereto, the Lessee, if a corporation, shall designate a registered office and a registered agent, as required by Section 48.091, Florida Statutes, such designations to be filed with the
Florida Department of State in accordance with Section 607.0501, Florida Statutes. If the Lessee is a natural person, he and his personal representative hereby submit themselves to the jurisdiction of the Courts of this State for any cause of
action based in whole or in part on an alleged breach of this Agreement. 
 ARTICLE 19 

Trust Agreement 
 19.01
Incorporation of Trust Agreement by Reference: Not-withstanding any of the terms, provisions and conditions of this Agreement, it is understood and agreed by the parties hereto that, to the extent of
any inconsistency with or ambiguity relating to the terms and conditions of this Agreement, and the level of rents, fees or charges required hereunder and their periodic modification or adjustment as may be required by the provisions of the Trust
Agreement dated as of the 15th day of December, 2002 by and among the County and the JP Morgan Chase Bank as Trustee and Wachovia Bank, National Association as Co-trustee (“the Trust Agreement”),
shall prevail and govern at all times during the term of this Agreement. Copies of the Trust Agreement are available for inspection in the offices of the Department during normal working hours. 

19.02 Adjustment of Terms and Conditions: If, at any time during the term of this Agreement, a Federal agency or court of competent
jurisdiction shall determine that any of the terms and conditions of this Agreement, including the rentals, fees and charges required to be paid hereunder to the County by the Lessee or by other Lessees under other Agreements of the County for the
lease or use of facilities used for similar purposes, are unjustly discriminatory, the County shall have the right to modify such terms and conditions and to increase or otherwise adjust the rentals, fees and charges required to be paid under this
Agreement in such a manner as the County shall determine is necessary and reasonable so that the rentals, fees and charges payable by the Lessee and others shall not thereafter be unjustly discriminatory to any user of like facilities and shall not
result in any violation of the Trust Agreement or in any deficiency in revenues necessary to comply with the covenants of the Trust Agreement. In the event the County has modified the terms and conditions of this Agreement, including any adjustment
of the rentals, fees and charges required to be paid to the County pursuant to this provision, this Agreement shall be amended to incorporate such modification of the terms and conditions including the adjustment of rentals, fees and charges upon
the issuance of written notice from the Department to the Lessee. 

  
 38 

 ARTICLE 20 

Other Provisions 
 20.01
No Representation: The County makes no representation, warranty, guarantee, or averment of any nature whatsoever concerning the physical condition of the Premises, and it is agreed that County will not be responsible for any loss, damage or
costs which may be incurred by the Lessee by reason of any such physical condition. 
 20.02 Headings: Any headings preceding the
text of any articles, paragraphs or sections of this Agreement shall be solely for convenience of reference and shall not constitute a part of this Agreement, nor shall they affect its meaning, construction or effect. 

20.03 Interference: The Lessee further expressly agrees to prevent any use of the Premises, which would interfere with or adversely
affect the operation or maintenance of the Airport or otherwise constitute an airport hazard. 
 20.04 Authorized Uses Only: The
Lessee shall not use or permit the use of the Premises for any illegal or unauthorized purpose or for any purpose which would increase the premium rates paid by the County on, or invalidate, any insurance policies of the County or any policies of
insurance written on behalf of the Lessee under this Agreement. 
 20.05 Binding Effect: The terms, conditions and covenants of this
Agreement shall inure to the benefit of and be binding upon the parties hereto and their successors and assigns. This provision shall not constitute a waiver of any conditions prohibiting assignment or subletting. 

20.06 Federal Subordination: This Agreement shall be subordinate to the provisions of any existing or future agreements between the
County and the United States of America relative to the operation and 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. All
provisions of this Agreement shall be subordinate to the right of the United States of America to lease or otherwise assume control over the Airport, or any part thereof, during time of war or national emergency for military or naval use and any
provisions of this Agreement inconsistent with the provisions of such lease to, or assumption of control by, the United States of America shall be suspended. 

  
 39 

 20.7 Notices: All notices required or permitted to be given under the terms and
provisions of this Agreement by either party to the other shall be in writing and shall be hand delivered or sent by registered or certified mail, return receipt requested, to the parties as follows: 

As to the County or Aviation Department: 

Director 
 Miami-Dade Aviation
Department 
 Post Office Box 025504 

Miami, Florida 33102-5504 
 As to
the Lessee: 
 President: 

Global Crossing Airlines LLC 

600 Brickell Avenue, 19th Floor 

Miami, FL 33131 
 or to such other address as
may hereafter be provided by the parties in writing. Notices by registered or certified mail shall be deemed received on the delivery date indicated by the U.S. Postal Service on the return receipt. Hand delivered notices shall be deemed received by
the Lessee when presented to the local management representative of the Lessee. 
 20.08 Rights Reserved: Rights not specifically
granted the Lessee by this Agreement are reserved to the County. 
 20.09 Rights of County at Airport: The County shall have the
absolute right, without limitation, to make any repairs, alterations and additions to any structures and facilities at the Airport. The County shall, in the exercise of such right, be free from any and all liability to the Lessee for business
damages occasioned during the making of such repairs, alterations and additions, except those occasioned by the sole active negligence of the County, its employees, or agents. 

20.10 Rights to be Exercised by Department: Wherever in this Agreement rights are reserved to the County, such rights may be exercised
by the Department. 
 20.11 No Waiver: There shall be no waiver of the right of either party to demand strict performance of any of
the provisions, terms and covenants of this Agreement nor shall there be any waiver of any breach, default or non-performance hereof by either party, unless such waiver is explicitly made in writing by the
other party. Any previous waiver or course of dealing shall not affect the right of either party to demand strict performance of the provisions, terms and covenants of this Agreement with respect to any subsequent event or occurrence of any
subsequent breach, default or non-performance hereof by the other party. 
 20.12 Right to
Regulate: Nothing in this Agreement shall be construed to waive or limit the governmental authority of the County, as a political subdivision of the State of Florida, to regulate the Lessee or its operations. Notwithstanding any provision of
this Agreement, nothing herein shall bind or obligate the County, the Zoning Appeals Board, the Building and Zoning Department (as it may be renamed from time to time), 

  
 40 

 
the Planning Department, or any department, board or agency of the County to agree to any specific request of the Lessee that is related in any way to the regulatory or quasi-judicial power of
the County; and the County shall be released and held harmless by the Lessee from any liability, responsibility, claims, consequential damages or other damages, or losses resulting from the denial or withholding of such requests, provided, however,
that this provision shall not preclude any appeal from County action wherein the sole remedy sought is reversible of the County’s action or injunctive relief; nor shall it preclude any action based on the County’s bad faith, capricious
behavior or arbitrary action. 
 20.13 Severability: If any provision of this Agreement or the application thereof to either party to
this Agreement is held invalid by a court of competent jurisdiction, such invalidity shall not affect other provisions of this Agreement which can be given effect without the invalid provision, and to this end, the provisions of this Agreement are
severable. 
 20.14 Inspections: The authorized employees and representatives of the County and of any applicable Federal or State
agency having jurisdiction hereof shall have the right of access to the Premises at all reasonable times for the purposes of inspection and testing to determine compliance with the provisions of this Agreement. This right of inspection and testing
shall impose no duty on the County to inspect and shall impart no liability upon the County should it not make any such inspections. 

20.15 Payment of Taxes: The Lessee shall pay all taxes and other costs lawfully assessed against its leasehold interests in the
Premises, its improvements and its operations under this Agreement; provided, however, the Lessee shall not be deemed to be in default of its obligations hereunder for failure to pay such taxes pending the outcome of any legal proceedings instituted
to determine the validity of such taxes. Failure to pay the taxes upon the adverse ultimate conclusion of such legal proceedings against the Lessee shall constitute a default. 

20.16 Quiet Enjoyment of Others: The Lessee shall control the actions of its employees, agents, invitees and those doing business with
it, so as to not annoy, disturb or be offensive to others and to provide the service hereunder so as to not unreasonably create a nuisance or thing which may disturb the quiet enjoyment of any other users of the Airport. 

20.17 Radon Disclosure: In accordance with Section 404.056, Florida Statutes, the following disclosure is hereby made: 

Radon Gas: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may
present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your
county public health unit. 

  
 41 

 20.18 Destruction of Premises: In the event the Premises shall be destroyed or so
damaged or injured by fire, windstorm, flood or other casualty (and in each such event the Lessee was not at fault in whole or in part) during the life of this Agreement that the Premises or any portion thereof are rendered untenantable, the County
shall have the right, but not the obligation, to render said Premises or damaged portion thereof tenantable by repairs completed within a reasonable period of time. 
  

	 	(A)	 Total Destruction: In the event the County elects not to render the Premises tenantable, if destroyed or
damaged in their entirety, the Lessee shall be so notified in writing by the Department, and this Agreement shall be deemed terminated as of the date of the casualty, with the Lessee being liable only for payment of rentals on a pro rata basis as to
whatever portion(s) of the Premises which were tenantable and used by the Lessee following the casualty. In such event, the Department shall endeavor to find adequate replacement premises for the Lessee in existing facilities on the Airport.

  

	 	(B)	 If the damaged portion of the Premises is not rendered tenantable by the County within a reasonable period of
time, and the Lessee shall determine that: 1) the loss of the damaged portion of the Premises shall have a materially adverse impact on the ability of the Lessee to utilize the Premises for the purposes described in Article 2; or 2) would require
the Lessee to obtain other space off the Premises in order to substantially conduct the operations of the Lessee originally conducted within the Premises, then, in either such event, upon written notice to the County, the Lessee may cancel this
Agreement as of a date which shall be not later than three months from the giving of such notice, if the repairs are not completed within 90 days following such written notice of the intent to cancel, or if the County has not commenced repairs
within such notice period for repairs which cannot be reasonably completed within such 90-day period. In the event of cancellation, the rent for the untenantable portion of the Premises shall be paid only to
the date of such fire, windstorm, flood, or other casualty. If the Agreement is not canceled following any such casualty, the rent shall be abated as to the portion of the Premises rendered untenantable. 

If the casualty was caused in whole or in part by the Lessee, its officers, employees, agents, contractors or trespassers, then the Lessee
shall not have the right to terminate this Agreement and shall be responsible under other provisions of this Agreement for payment to the County of all damage to the Premises, plus the loss of rentals attributable to the damaged or destroyed
premises. 
 20.19 Quiet Enjoyment: Subject to the terms of this Agreement, specifically including, but not limited to, environmental
remediation steps to be taken under Article 8, the County’s right and obligation to make certain repairs, alterations, and additions under Articles 5 (Maintenance by County) and 20.09 (Rights of County at Airport), 

  
 42 

 
which, for purposes of this clause, includes any and all demolition, in whole or in part, of buildings and runways, and roadway systems on or off the Airport, and the reservation of easement
rights to the airspace under Article 16.10 (Right of Flight), all of which provisions and others in this Agreement, the Lessee acknowledges may cause disruption and disturbance to the Lessee, and upon the observance by the Lessee of all the terms,
provisions, covenants, and conditions imposed upon the Lessee hereunder, the Lessee shall peaceably and quietly hold and enjoy the Premises for the term of this Agreement; provided, however, that the County shall not be liable for any violation of
this clause or for any disturbance or disruption in or to the Lessee’s business, for acts or omissions of tenants, users of the Airport, third parties or when any department or agency of the County is acting in its governmental capacity or by
Acts of God. 
 20.20 Interpretation of Agreement: This Agreement is the result of negotiation between the parties hereto and has
been typed/printed by one party for the convenience of both parties, and the parties covenant that this Agreement shall not be construed in favor of or against any of the parties hereto. 

20.21 Entirety of Agreement: The parties hereto agree that this Agreement sets forth the entire agreement between the parties, and
there are no promises or understandings other than those stated herein. None of the provisions, terms and conditions contained in this Agreement may be added to, modified, superseded or otherwise altered, except as may be specifically authorized
herein or by written instrument executed by the parties hereto. 

  
 43 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their appropriate
officials as of the date first above written. 
  

					
		 	BOARD OF COUNTY COMMISSIONERS OF
MIAMI-DADE COUNTY, FLORIDA
			
	  
	 	By:	 	/s/ K.G. Pyett
		 		 	Deputy Aviation Director
		
		 	ATTEST: Harvey Ruvin, Clerk
			
	  
	 	By:	 	/s/ Harvey Ruvin
		 		 	Deputy Clerk
			
	

	 		 	 (SEAL)

		
		 	GLOBAL CROSSING AIRLINES LLC

					
			
	  
	 	By:	 	/s/ EDWARD J. Wegel

					
		 		 	President
			
	  
	 		 	/s/ EDWARD J. WEGEL
		 		 	Print Name
			
	  
	 		 	/s/ Vanessa Castellanos
	Approved as to form And legal sufficency	 		 	Notary Public
			
	

	 		 	/s/ Vanessa Castellanos
	Assistant Country Attorney	 		 	Print Name
			
		 		 	(COMPANY STAMP OR SEAL)
			
		 		 	

  
 44 

 

 

 EXHIBIT R-02 

FAA List of Non-Discrimination Federal Statutes 

 

									
	 	                                   
 	 	 	 A6.3.6
	  	Title VI List of Pertinent Nondiscrimination Acts and Authorities

 Title VI List of Pertinent Nondiscrimination Acts and Authorities 

During the performance of this contract, the contractor, for itself, its assignees, and successors in interest (hereinafter referred to as the
“contractor”) agrees to comply with the following non-discrimination statutes and authorities; including but not limited to: 
  

	 	•	 	 Title VI of the Civil Rights Act of 1964 (42 U.S.C. § 2000d et seq., 78 stat. 252), (prohibits
discrimination on the basis of race, color, national origin); 

  

	 	•	 	 49 CFR part 21 (Non-discrimination In Federally-Assisted Programs of The
Department of Transportation—Effectuation of Title VI of The Civil Rights Act of 1964); 

  

	 	•	 	 The Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, (42 U.S.C. § 4601),
(prohibits unfair treatment of persons displaced or whose property has been acquired because of Federal or Federal-aid programs and projects); 

 

	 	•	 	 Section 504 of the Rehabilitation Act of 1973, (29 U.S.C. § 794 et seq.), as amended,
(prohibits discrimination on the basis of disability); and 49 CFR part 27; 

  

	 	•	 	 The Age Discrimination Act of 1975, as amended, (42 U.S.C. § 6101 et seq.), (prohibits discrimination
on the basis of age); 

  

	 	•	 	 Airport and Airway Improvement Act of 1982, (49 USC § 471, Section 47123), as amended, (prohibits
discrimination based on race, creed, color, national origin, or sex); 

  

	 	•	 	 The Civil Rights Restoration Act of 1987, (PL 100-209), (Broadened the
scope, coverage and applicability of Title VI of the Civil Rights Act of 1964, The Age Discrimination Act of 1975 and Section 504 of the Rehabilitation Act of 1973, by expanding the definition of the terms “programs or activities” to
include all of the programs or activities of the Federal-aid recipients, sub-recipients and contractors, whether such programs or activities are Federally funded or
not); 

  

	 	•	 	 Titles II and III of the Americans with Disabilities Act of 1990, which prohibit discrimination on the basis of
disability in the operation of public entities, public and private transportation systems, places of public accommodation, and certain testing entities (42 U.S.C. §§ 12131 – 12189) as implemented by Department of Transportation
regulations at 49 CFR parts 37 and 38; 

  

	 	•	 	 The Federal Aviation Administration’s Non-discrimination statute (49
U.S.C. § 47123) (prohibits discrimination on the basis of race, color, national origin, and sex); 

  

	 	•	 	 Executive Order 12898, Federal Actions to Address Environmental Justice in Minority Populations and Low-Income Populations, which ensures non-discrimination against minority populations by discouraging programs, policies, and activities with disproportionately high and
adverse human health or environmental effects on minority and low-income populations; 

  

	 	•	 	 Executive Order 13166, Improving Access to Services for Persons with Limited English Proficiency, and resulting
agency guidance, national origin discrimination includes discrimination because of limited English proficiency (LEP). To ensure compliance with Title VI, you must take reasonable steps to ensure that LEP persons have meaningful access to your
programs (70 Fed. Reg. at 74087 to 74100); 

  

	 	•	 	 Title IX of the Education Amendments of 1972, as amended, which prohibits you from discriminating because of sex
in education programs or activities (20 U.S.C. 1681 et seq). 

  

 

					
	Required Contact Provisions	  	Issued on January 29, 2016	  	Page 23
	AIP Grants and Obligated Sponsors	  	Airports (ARP)EX-10.11

 Exhibit 10.11 

AIRCRAFT ACMI LEASE AGREEMENT (“AGREEMENT” OR “ACMI LEASE”) IS MADE ON     OF JUNE, 2020 BETWEEN 

SMARTLYNX AIRLINES MALTA, an air carrier established under laws of Malta, VAT nr.: 25886226, having its principal place of business at Nu Bis Centre, Trig II-Mosta, hal Lija, LJA 9012, Malta, hereinafter referred as “Lessor” or “Smartlynx” 
 AND 

Global Crossing Airlines, Inc an air carrier established under the laws of United States of America, VAT
number:85-0655281, whose principal office is at 4th Floor, 4200 NW 36th Street, Miami, Florida 33166
hereinafter referred as “Lessee” or “Global X” 
 Both referred to jointly as Parties 

WHEREAS Lessor has available for wet lease two Airbus 320 airplanes (Aircraft, or when referred to individually Aircraft I or Aircraft 2), both 180-seats all economy, MTOW 77t (or any Replacement Aircraft) with cover of cockpit crew, maintenance and insurance (hereinafter referred to as “Aircraft”)) 

AND WHEREAS Lessee wishes to wet lease from Lessor, and Lessor is willing to lease to Lessee, Aircraft for purpose of carrying out on behalf of Lessee certain
Flights, this in accordance with ORO.AOC.l10 of EU Regulation 965/2012. 
  

	1.	 DEFINITIONS 

The following terms shall, unless the context otherwise requires, have the following respective definitions for the purposes of Agreement: 

 

	 	a.	 “Aircraft” means the following two aircraft: Airbus 320 aircraft, Maltese registration mark, 180-seats all economy, MTOW 77t with all appliances, communications equipment, accessories and instruments installed and all flight manuals, maintenance manuals, log records and historical records. It also means any
other Lessor’s aircraft of similar seating and performance capacity, having Maltese registration marks, as may be substituted therefore in accordance with the terms of Agreement. Lessee agrees to accept any other Airbus 320 aircraft
registration that Lessor will offer, at least 180-seats and similar performance capacity 

  

	 	b.	 “Aircraft ACMI Lease” means that the Aircraft is operated under Lessor’s AOC, under the rules
and regulations of EASA, by Lessor’s appropriately trained cockpit crew, maintained and insured by Lessor as defined further in Agreement. 

  

	 	c.	 “Approved Maintenance Organization” means a maintenance organization approved pursuant to the United
States Aviation Regulations. 

  

	 	d.	 “Aviation Authority” means the legal institution with the control and supervision of registration,
airworthiness or operation of civil aircraft or other matters relating to civil aviation, in Malta. 

  

	 	e.	 “Base” is same for Aircraft 1, Aircraft 2 meaning Miami International Airport (MIA) in the United
States of America; base is the airport where Aircraft makes overnight stops and maintenance activity is carried out by Lessor. 

  

	 	f.	 “Block Hour” means each hour, or part thereof, elapsing from the moment the chocks are removed from
the wheels of an Aircraft until the chocks are returned to the wheel as recorded by captain in command in Journey Log used as accounting reference by Parties. 

 

	 	g.	 “Day” means a day, other than a Saturday or Sunday, on which banks in Malta and United States are
open for execution of transactions of Agreement; wherever reference to timing is made, that shall be UTC. 

  

	 	h.	 “Delivery Date” means delivery of the Aircraft to the Base on a date mutually acceptable to Lessor
and Lessee, which date shall, in any case, be prior to the beginning of each Lease Term. 

  

	 	i.	 “EASA” means European Aviation Safety Agency. 

  
 1 

	 	j.	 “Event of Default” means any of the events specified in Article 15. 

 

	 	k.	 “Excluded Country” means , unless Lessor has otherwise provided its consent, any country that is the
subject to an embargo, sanction, export restriction or prohibition order (or any similar order or directive) of: 

  

	 	•	 	 the United Nations Security Council; or 

 

	 	•	 	 any Governmental Entity of the European Union, the United Kingdom, the United States of America, the State of
Registration or any other country in which the Aircraft is habitually based from time to time, which, in each case, (a) is applicable to (i) Lessee or Lessor or (ii) the ownership, leasing or operation of the Aircraft and (b) has
the effect of prohibiting aviation activities to or from such country, for so long as such embargo, sanction, export restriction or prohibition order remains in effect. 

 

	 	1.	 “Excluded Person” means any Person: 

 

	 	•	 	 whose property or interests in property are blocked or subject to blocking pursuant to Section 1 of
Executive Order 13224 of September 24, 2001 Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)); 

 

	 	•	 	 on the list of “Specially Designated Nationals” and “Blocked Persons” or subject to the
limitations or prohibitions under any OFAC regulation or executive order; 

  

	 	•	 	 who is the subject of a United Nations sanction or whose assets have been frozen by enabling legislation of the
same in the State of Registration; or 

  

	 	•	 	 who is the subject of any laws similar to or consistent with the foregoing clauses (i) through (iii) as the
same are enacted in the State of Registration, 

  

	 	•	 	 in each case, as the same are amended or supplemented from time to time, and including any successor laws as the
same are enacted from time to time. 

  

	 	m.	 “Excluded Transaction” means any transaction, including with an Excluded Person, which would be
prohibited for Lessee or Lessor by reason of being: 

  

	 	•	 	 a violation of the United States Bank Secrecy Act or any applicable regulations thereunder (to the extent it is
applicable to Lessee or Lessor); 

  

	 	•	 	 contrary to any of the sanctions programs administered by OFAC, any regulations promulgated thereunder by OFAC or
under any affiliated or successor governmental or quasi-governmental office, bureau or agency, or any enabling legislation or executive order relating thereto (in each case, to the extent it is applicable to Lessee or Lessor); or

  

	 	•	 	 contrary to any laws similar to or consistent with the foregoing clauses (i) through (ii) as the same are
enacted in the State of Registration and are applicable to Lessee or Lessor, 

  

	 	•	 	 in each case, as the same are amended or supplemented from time to time, and including any successor laws as the
same are enacted from time to time. 

  

	 	n.	 “EUR” means euro. 

 

	 	o.	 “Federal Aviation Administration” or “FAA” means Aviation Authority of United States of
America. 

  

	 	p.	 “Flight Hour” means each hour or part thereof elapsed from
take-off to touchdown during a Flight made during a Lease Term. 

  

	 	q.	 “Flights” means Lessee’s flights as detailed in Flight Schedule. 

 

	 	r.	 “Flight Schedule” means the schedule for flights agreed between the Lessee and the Lessor.

  

	 	s.	 “Force Majeure” means a delay to act or failure to act due to or arising out of unforeseeable and
unavoidable circumstances that are outside of the control of either Party, such as acts of God, bird strike, lightning strike or hijacking, civil war, insurrection, riot, fire, flood, explosion, earthquake, epidemic, quarantine restriction, any act
of terrorism, any act of any government, governmental priority, allocation, regulation, order affecting necessary materials, facilities or Aircraft, strike or labor dispute causing cessation, slowdown or interruption of work (other than strikes,
disputes, slowdowns and interruptions by Lessor’s employees or employees of its subcontractors) or inability after due and timely diligence to procure equipment, data and materials from suppliers or any other cause to the extent that such cause
is beyond the control of Lessor or Lessee. 

  
 2 

	 	t.	 “Government Entity” means and includes 

 

	 	(i)	 any national government, political subdivision thereof, or local jurisdiction therein; 

 

	 	(ii)	 any official board, commission, agency, department, division, organ, instrumentality, court or agency of any
thereof, howsoever, constituted including, without limitation, the Federal Aviation Administration; and 

  

	 	(iii)	 any official organization or institution to whose jurisdiction any thereof is subject. 

 

	 	u.	 “Head Lessor” means the entity from which Lessor leases any Aircraft and Replacement Aircraft.

  

	 	v.	 “Heavy Maintenance” means any maintenance, to be carried out by an Approved Maintenance Organization
requiring the use of approved hangar facility for activities such as but not limited to: 24 month / 7500 flight hours checks or 72 month checks or complex modifications. 

 

	 	w.	 “Indemnitees” means Lessor and Head Lessor. 

 

	 	x.	 “Journey Log” means a document executed by captain in command after each Flight containing
information on such Flight, in particular Block Hours, which will be utilized by Parties for accounts and utilization measurement purposes. 

  

	 	y.	 “Lease Term” means collectively or separately Lease Term One, Lease Term Two, Lease Term Three, Lease
Term Four and Lease Term Five, Lease Term Six, Lease Term Seven and Lease Term Eight, as the context may require. 

  

	 	z.	 “Minimum Period Guarantee” is the minimum agreed utilization in Block Hours per Aircraft during each
Lease Term, measured in Block Hours, as stipulated in Article 4. 

  

	 	aa.	 “Redelivery Date” means departure date from Base at the end of each Lease Term, as detailed in
Article 5. 

  

	 	bb.	 “Rent” means the sum payable by Lessee pursuant to Article 6 and Annex A. The Lease Rate is the ACMI
price of operating one Block Hour. 

  

	 	cc.	 “Replacement Aircraft” means (a) an aircraft other than Aircraft 1 or Aircraft 2 with similar
safety and performance standards, operated by Lessor with Maltese registration marks, equipped with substantially the same equipment with no less capacity (being 180 seats) than Aircraft 1 or Aircraft 2, as applicable, and otherwise meeting the
requirements of Article 12.1 or, if an aircraft described under (a) is not available, then (b) any other aircraft otherwise meeting the requirements of (a) and Article 12.1, provided that, any such aircraft under (a) or (b) shall
be operated in accordance with, and pursuant to, the provisions of Agreement as if references to “Aircraft” were to “Replacement Aircraft”. Lessor has the right to replace the Aircraft with a Replacement Aircraft subject to the
final approval of Lessee, which shall not be unreasonably withheld, at no additional cost to Lessee. 

  

	 	dd.	 “Traffic Documents” means the passenger tickets, baggage checks, airway bills and any other documents
required under any applicable law and convention in relation to any passenger, cargo or mail which may be carried on Aircraft. 

  

	 	ee.	 “Total Loss” means the loss or destruction or damage to Aircraft such that a determination by the
insurers or Head Lessor is made under the policy of hull insurance that repair would be impractical, or any seizure or requisition for use of title or confiscation of Aircraft. 

 

	 	ff.	 The word “person” or “persons” or to words importing persons include, without limitation,
individuals, firms, partnerships, joint ventures, trust, Government Entities, organizations, associations, corporations, government agencies, committees, departments, authorities and other bodies, corporate or incorporate, whether having legal
distinct personality or not, or any member of the same. 

  

	 	gg.	 “USD” means United States dollar. 

 

	 	hh.	 “Lessor”, “Lessee” or “Indemnitees” mean and include their respective directors,
officers, servants, agents, employees and sub-contractors. 

  
 3 

	 	ii.	 Words in the plural shall imply singular and vice versa; reference to an article in the Agreement shall imply
reference to all sub-clauses in the Agreement. 

  

	 	jj.	 Any agreement or instrument shall include such agreement or instruments as it may from time to time be amended,
supplemented or substituted. 

  

	 	kk.	 Headings in the Agreement are for ease of reference only and shall not affect the construction or
interpretation of Agreement. 

  

	2.	 LEASE OF AIRCRAFT 

  

	 	2.1.	 Lessor agrees to lease the Aircraft to Lessee and Lessee agrees to take the Aircraft on lease from Lessor for
the length of the Lease Term upon the terms and subject to the conditions of Agreement. 

  

	 	2.2.	 During the Lease Term, each Aircraft shall have a passenger configuration of no less than 180 seats and shall
be operated on the Flight Schedule, as may be amended from time to time upon mutual agreement of Lessor and Lessee, always in accordance with clause 14.2. 

  

	 	2.3.	 Agreement to lease extends to any Replacement Aircraft provided due to maintenance, operational or other
reasons. 

  

	3.	 CONDITIONS PRECEDENT 

 

	 	3.1.	 Lessor’s obligations to deliver Aircraft prior to each Lease Term and to operate Aircraft during each
Lease Term shall be subject to and conditional upon Lessor having received: 

  

	 	a.	 All prepayments and deposit and rent in accordance with Annex A to Agreement; 

 

	 	b.	 Evidence satisfactory to Lessor that Lessee has or will have, prior to each Lease Term, the necessary
permissions, consents, licenses and approvals from the relevant Government Entities for the operation of Flights by the Aircraft, in particular, a valid air operator certificate; 

 

	 	c.	 Lessee’s certificate of insurance, and required co-insurance
certificates; 

  

	 	d.	 Assurances satisfactory to Lessor, acting reasonably, prior to each Lease Term, that Lessee is able to provide
support to Lessor as stipulated in this Agreement; and 

  

	 	e.	 a copy of Lessee’s constitutional documents, certified by a member of Lessee’s management board as
being true, correct and up-to-date and as containing all amendments, together with an incumbency certificate as to the Person or Persons authorized to execute and
deliver such documents on behalf of Lessee; a copy of the corporate resolutions of Lessee, certified by a member of Lessee’s management board as being true, correct and
up-to-date and as containing all amendments, evidencing due approval and authority of Lessee for the execution, delivery and performance of this Lease and all other
documents related thereto; and 

  

	 	f.	 ACMI lease agreement between Global X as lessor and Smartlynx as lessee in relation to wet lease of A320
Aircraft (hereinafter referred to as “Lease 2”) fully executed by both Parties. 

  

	 	3.2.	 Lessor’s obligations to deliver Aircraft prior to each Lease Term are further conditional upon:

  

	 	a.	 No Lessee Event of Default having occurred as at or prior to each Lease Term; 

 

	 	b.	 No event which with the passage of time would constitute an Event of Default shall have occurred as at or prior
to the beginning of such Lease Term; 

  

	 	c.	 The representations and warranties of Lessee being true and correct; and 

 

	 	d.	 Lessor’s Aviation Authority consent to lease of the Aircraft; and 

 

	 	e.	 Lease 2 is in full force and effect, no termination notices regarding Lease 2 have been submitted by Global X
and Global X fulfils its obligations under Lease 2 in timely manner. 

  
 4 

	 	3.3.	 Lessee’s obligations to lease the Aircraft during each Lease Term are conditional upon Lessee having
received: 

  

	 	a.	 Lessor’s AOC and AOC related documents, certificate of insurance, and required co-insurance certificates; and 

  

	 	b.	 Satisfactory EASA approved Audit of Lessors organization and Aircraft inspection by Lessee.

  

	 	3.4.	 Lessee’s obligations to lease Aircraft during each Lease Term are further conditional upon:

  

	 	a.	 No Lessor Event of Default having occurred as at or prior to such Lease Term; 

 

	 	b.	 No event which with the passage of time would constitute an Event of Default shall have occurred as at or prior
to such Lease Term. 

  

	 	c.	 The DOT consent to the lease of the Aircraft by the Lessee. 

 

	 	d.	 The representations and warranties of Lessor being true and correct. 

 

	 	3.5.	 Parties agree that all conditions precedent, unless waived, need to be met by 01st of November 2020 (or 01st of November of the year of each subsequent Lease Term) except where explicitly mentioned otherwise, and are considered met unless one Party at 1st of November 2020 (or 1st of November of the year of
each subsequent Lease Term) at the latest notifies the other in writing that said conditions have not been met. Failing to meet the conditions, unless a further extension is agreed in writing to meet the conditions precedent, shall provide the party
in whose favour the unsatisfied condition precedent is in to either terminate this Agreement or provide an irrevocable waiver of such condition. 

  

	4.	 LEASE TERM. Minimum Period Guarantee 

 

	 	4.1.	 Lease Term for Aircraft: 

Lease Term One: From 1st of December 2020 till 25th of April 2021; 

Lease Term Two: From 1st of December 2021 till 25th of April 2022; 

Lease Term Three: From 1st of December 2022 till 25th of April 2023; 

Lease Term Four: From 1st of December 2023 till 25th of April 2024; 

Lease Term Five: From 1st of December 2024 till 25th of April 2025; 

Lease Term Six: From 1st of December 2025 till 25th of April 2026; 

Lease Term Seven: From 1st of December 2026 till 25th of April 2027; 

Lease Term Eight: From 1st of December 2027 till 25th of April 2028; 
  

	 	4.2.	 Minimum Period Guarantee for Aircraft-1 in amount of 200 Block Hours
per each calendar month during Lease Term One, and 1000 Block Hours in total per Aircraft-1 per Lease Term One, and 200 Block Hours per each of Aircraft-1 and Aircraft-2 per each calendar month during each Lease Term, starting Lease Term Two, and 1000 Block Hours in total per each of Aircraft-1 and
Aircraft-2 per each Lease Term, starting Lease Term Two. In addition, in Lease Term One, Lessee may shift up for 35% of Block Hours of the Minimum Monthly Guarantee per Aircraft from one month to another
provided that in the aggregate over the Lease Term the Minimum Period Guarantee is met. 

  

	 	4.3.	 All details regarding Aircraft delivery and redelivery are reflected in Section 5.1 and Annex A, article
1.6. 

  

	 	4.4.	 Early termination of Agreement. If Lessee terminates Agreement before or during any Lease Term (except for
termination in accordance with Article 3.5, 4.5, 15.4 or 16.2), as specified in Article 4.1 above, Lessee shall immediately pay Lessor for all remaining Block hours to and including the Minimum Period Guarantee not flown in each Lease Term. For
instance, if Lessee terminates Agreement after Lease Term One, Lessee shall immediately pay to Lessor for all 2000 Block hours not flown in Lease Term Two, for all 2000 Block hours not flown in Lease Term Three, for all 2000 Block hours not flown in
Lease Term Four, for all 2000 Block hours not flown in Lease Term Five, for all 2000 Block hours not flown in Lease Term Six, for all 2000 Block hours not flown in Lease Term Seven and for all 2000 Block hours not flown in Lease Term Eight, in
accordance with agreed Block hour rates for FH:FC ratio of 3:1 indicated in Annex A, article 1.1 In case of such early termination by Global X, Smartlynx has a right to immediately unilaterally terminate Lease 2 by giving a written notice to Global
X. In such case, Global X will immediately return to Smartlynx all the Security Deposit amounts paid for next lease terms under Lease 2. 

  
 5 

	 	4.5.	 Lessee has a right to terminate the Lease Term One of this ACMI Lease agreement due to reasons, limited to:
failing to obtain AOC, continuous repeated outbreak of COVID-19 virus after the signature of this Agreement and its implications on the aviation industry, causing overall aviation market decrease below 50% of
the figures of 2019, by giving a written notice to Lessor not later than 1st of August, 2020. In such case Lessor will immediately return to
Lessee the Security Deposit amount paid for Lease Term One, in amount of USD 200 000. 

 For avoidance of doubt, such
termination is option only applicable in relation to Lease Term One, all the other Lease Terms for both Aircraft-1 and Aircraft-2 are to remain in full force and effect
as per terms and conditions of this ACMI Agreement, including for the avoidance of doubt, the applicable Security Deposit payments, and in case of any further Lease Terms are terminated by Lessee, clause 4.4 will be in force. 

 

	5.	 DELIVERY. REDELIVERY. 

 

	 	5.1.	 Aircraft is delivered and redelivered to and from Base on Lessor’s flight numbers. Costs of delivery and
redelivery (which shall include fuel, taxes, navigation, flight crew and other Direct Operating Costs) shall be split equally between Lessee and Lessor 50/50, stipulated in Annex B to Agreement. Parties can agree on the fixed cost per each of
delivery and redelivery and Lessee shall pay their 50% amount to Lessor prior the flight performed. 

  

	 	5.2.	 At delivery and redelivery, Lessor shall ensure that Aircraft are clean and serviceable by international
commercial airline standards, compliant with EU regulation No 965/2012, subpart D and applicable law and airworthy with all equipment fully functional and operating within limits established by manufacturer. The Aircraft will be delivered without
any defects and without any Heavy Maintenance tasks scheduled during any Lease Term. 

  

	 	5.3.	 Lessor might apply Lessee’s decals on exterior of Aircraft prior to delivery at Lessee’s cost,
subject to timely notice from the Lessee and relevant work orders issued from Lessor and approved by Lessee. Such logos and signs shall be removed prior redelivery, at Lessee’s cost. Application of livery is charged separately (paperwork,
material, labour). Aircraft shall be redelivered to the Lessor in all-white livery. 

  

	 	5.4.	 Delivery and redelivery are subject to execution of acceptance certificate by Lessee with regards to galley and
cabin equipment delivered and redelivered with the Aircraft. 

  

	 	5.5.	 In case any special modifications are needed to be done on Aircraft, based on special FAA and/or EASA
regulations, such will be installed and organized by Lessor on Lessee’s cost prior starting of operations in Base. 

  

	6.	 PAYMENT OF RENT 

  

	 	6.1.	 All details regarding rent payments are stipulated in Annex A to Agreement, which is an inherent and
confidential part of Agreement. 

  

	7.	 TAXATION 

  

	 	7.1.	 Subject to Article 7.2, all payments to Lessor are clear of all taxes and duties. Taxes incurred by Lessee or
Lessor in connection with the use and/or possession of Aircraft by Lessee shall be borne by Lessee, excluding any taxes based on the income of Lessor. 

  

	 	7.2.	 All amounts payable by Lessee under this Agreement are exclusive of any sales tax, use tax, value added tax,
turnover tax, goods and services tax or any similar imposition or levy (collectively, “Sales Taxes”). Similarly, all amounts payable by Lessor under this Agreement are exclusive of any Sales Taxes. If either Lessor or Lessee is required by
law to collect Sales Taxes from the other in respect of the supply of any property or service pursuant to this Agreement, then Lessor or Lessee, as applicable, shall be entitled to collect such Sales Taxes from the other concurrently with the
payment of the consideration upon which such Sales Taxes are calculated, or at any other time mutually agreed to by Lessor and Lessee. Where Lessor or Lessee collects such Sales Taxes from the other, Lessor or Lessee, as applicable, shall provide
the other with the necessary documentation for any available tax credits, rebates or refunds to be claimed in respect of such Sales Taxes. 

  
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	8.	 DEPOSIT 

  

	 	8.1.	 All details regarding Deposit are stipulated in Annex A to Agreement, which is an inherent and confidential
part of Agreement. 

  

	9.	 COMMERCIAL CONTROL 

  

	 	9.1.	 Commercial control of the Aircraft during the Lease Term shall be vested in Lessee. Lessee shall, subject to
operational and technical considerations, be entitled to cancel, delay or re-route a Flight for commercial reasons. For avoidance of doubt, Lessor’s crew is not obligated to operate Aircraft into airports
where they deem facilities insufficient for proper servicing of the Aircraft, Lessor in this case being indemnified for loss of revenue. 

  

	 	9.2.	 Notwithstanding the provisions of Article 9.1 or any other provision to the contrary, Lessee will not use the
Aircraft in any manner contrary to any recommendation of the manufacturers of the Aircraft, any engine or any part or any recommendation or regulation of the Aviation Authority or for any purpose for which the Aircraft is not designed or reasonably
suitable. Lessee will use the Aircraft solely in commercial or other operations for which Lessee is duly authorised by the Aviation Authority and the Applicable Law. Lessee will not: (i) use the Aircraft for the carriage of any item or
substance whose possession or carriage is illegal under any Applicable Law; or (ii) (A) permit the Aircraft to proceed to, or remain at, any location in an Excluded Country without prior written approval of the Lessor, its insurer and Head
Lessor, (B) use the Aircraft, or permit the Aircraft to be used, to engage in an Excluded Transaction or (C) use or permit the use of the Aircraft for or on behalf of any Excluded Person. 

 

	 	9.3.	 All revenue derived from the operation of Flights (including but not limited to passenger, cargo, excess
baggage, duty free sales etc.) is for the sole account of Lessee. 

  

	 	9.4.	 Revenue and cost of in-flight sales is the responsibility of, and for
the sole account of, Lessee, however any cabin crew that Lessor may be providing to Lessee shall benefit from any cabin crew incentive program that Lessee may be running on their in-flight shop equally to any
cabin crew of Lessee, if applicable. 

  

	 	9.5.	 Lessor, may swap Aircraft with a Replacement Aircraft, provided there is no disturbance or delay on Flights.
Such swap cannot be cause for loss of Lessor’s revenue or reduction of Minimum Period Guarantee unless the delay in receipt of the Replacement Aircraft makes it commercially unreasonable for Lessee to meet the applicable Minimum Period
Guarantee. It is Lessee’s obligation to validate with the FAA respective Replacement Aircraft from Lessor’s fleet to be able to operate for Lessee. It is Lessors obligation to assume all extra cost related to delivery, redelivery and
operation of Replacement Aircraft. 

  

	10.	 OPERATIONAL CONTROL 

  

	 	10.1.	 Lessor is responsible for the operation of the Aircraft and the safe performance of Flights and shall retain
full operational control and possession of the Aircraft to enable it to do so. In particular, the captain of the Aircraft shall for the purpose of a safe performance of Flights have absolute discretion in all matters concerning flight operation,
preparation of the Aircraft for a Flight, the load carried and its distribution. Parties hereby agree that the Aircraft shall at all times during each Lease Term remain in the possession and under the operational control of Lessor and that Lessee
shall have no rights in the Aircraft other than those expressly granted in this Agreement. 

  

	 	10.2.	 The operation of the Aircraft shall be carried out in accordance with the standards and practices of Lessor as
set out in Lessor’s flight operations manual, in accordance with the EASA rules and regulations. 

  

	 	10.3.	 Lessor shall maintain all logs and records pertaining to the Aircraft in accordance with the rules and
regulations of the Aviation Authority. Copies of the Aircraft Journey Log shall be made available to Lessee upon each return to Base by an Aircraft. 

  

	 	10.4.	 Subject to Article 14, it shall be the responsibility of Lessor to prepare and file all documents and reports
with any Government Entity whatsoever concerning the operation of Flights hereunder, except for obtaining traffic rights and flight permissions. These files and reports will be provided to Lessee upon request. 

 

	 	10.5.	 Flights will be operated under Lessee’s designated flight numbers. 

 

	 	10.6.	 Flights will be operated under Lessee’s call sign. 

 

  
 7 

	 	10.7.	 Arrival/departure and related messages relating to Flights performed in accordance with the Agreement shall be
sent to the appropriate departments of Lessor and Lessee. 

  

	 	10.8.	 If during any Lease Term the necessity for Heavy Maintenance arises, Lessor shall provide a Replacement
Aircraft at no extra cost to Lessee. If any ferry flights are required for the performance of any maintenance, the costs of such ferry flights are borne by Lessor. Lessor confirms no Heavy Maintenance tasks are planned, or will be planned, on any
Aircraft during any Lease Term. 

  

	 	10.9.	 Lessee will provide all necessary assistance to Lessor and will be responsible to obtain (to the extent it is
legally permitted to do so) all necessary documents including but not limited to multiple entry visas, working visas, airside passes, certificates required in connection with the operation of Aircraft, all at Lessee’s costs. Lessor’s
revenue will not be dependent on Lessee’s ability or inability to obtain traffic rights on routes they intend to operate, access passes to facilities permitting maintenance of the Aircraft and similar. 

 

	 	10.10.	 All Traffic Documents related to the passengers, freight and mail will be passed on to Lessee and Lessee will
be responsible for the traffic accounting of Flights. 

  

	 	10.11.	 Lessor shall forward to Lessee on a daily basis such operational information as is reasonably requested by
Lessee. 

  

	 	10.12.	 Operation and maintenance surveillance of Aircraft during the entire and each Lease Term shall remain under the
full authority of the Aviation Authority. Lessee shall enable Aviation Authority inspectors’ access to the Aircraft and to the Base in order to carry out operational and maintenance inspection. Reciprocally, Lessor shall allow Aviation
Authority and FAA inspectors to inspect the Aircraft and review its maintenance procedures. Parties are entitled to audit each other’s operation. 

  

	 	10.13.	 Lessor is not liable for any violation of slots or for payment of any fines or penalties imposed by the
relevant authorities for such violation of allocated slots due to commercial and planning reasons beyond Lessor’s control. Lessee fully indemnifies Lessor of any fines or penalties accrued so, unless any fines or penalties are a result of
negligence or wilful misconduct by Lessor or the directors, officer, servants, agents, employees or sub-contractors of Lessor. 

 

	 	10.14.	 Lessee guarantees that all Lessor’s applicable manuals (such as GOM, DIM etc.) received will be
distributed to Lessee’s handlers and service providers. Lessor’s manuals shall not be disclosed to any other person during or after any Lease Term. Lessee guarantees that all copies of manuals shall be destroyed at the end of Lease Term
Eight or in any case after termination of the ACMI Lease Agreement. 

  

	 	10.15.	 Lessor has no right to subcontract the operation of Flights to third parties. Flights shall be operated within
the authorization specified in Lessor’s AOC. 

  

	 	10.16.	 Flights will be operated within the authorizations specified in the Lessor’s AOC in accordance with the
rules and regulations of EASA Air-Ops, and the procedures of Lessor. 

  

	11.	 FLIGHT CREW. MAINTENANCE PERSONNEL. 

 

	 	11.1.	 During each Lease Term, Lessor shall provide and bear the cost of up to 5 sets of cockpit crew per Aircraft 1
and Aircraft 2, or per each Aircraft. Crews shall hold current type-rating from the Aviation Authority to operate the Aircraft. Lessor shall offer additional cockpit crew sets at cost as advised in Annex A. The final number of cockpit crew per
Aircraft shall be determined prior to the commencement of each Lease Term and pricing adjusted as set out in Annex A. 

  

	 	11.2.	 It is the intention of the Parties that Lessee supplies qualified cabin crew for training by Lessor to be able
to operate on the Aircraft of Lessor. Alternatively, Parties might evaluate a possibility that Lessee may provide a crew trainer to be trained by Lessor in United States and then such crew trainer would be responsible for providing training to the
rest of Lessee’s cabin crew. Lessee agrees that all commercial responsibility (hiring, remuneration, payment of training) with regards to such cabin crew remain with Lessee, whereas operationally they account to Lessor and operate as per
Lessor’s procedures. Lessee in event where cabin crew supplied by them operate on the Aircraft, are obliged to provide all past and all future planned rosters of the cabin crew. Lessor is accountable and has authority on operational legality of
such cabin crew. All commercial details with regards to training of such cabin crew are laid out in Annex A. 

  
 8 

	 	11.3.	 During each Lease Term, Lessor shall provide and bear the cost of sufficient number of certified maintenance
staff required for the operation of the Aircraft at Base. Lessor has right to subcontract an external maintenance provider however Lessor shall always have as an option setting up their line maintenance station, with support of Lessee.

  

	 	11.4.	 If an external maintenance provider is contracted to maintain Aircraft, Lessor has the right to designate a
maintenance coordinator to coordinate the maintenance services at the Base. In this case, all support which as per Agreement needs to be provided for Lessor’s maintenance staff, will be provided for the maintenance coordinator as reasonable.

  

	 	11.5.	 To facilitate the operation, Lessor has the right, to designate a maintenance coordinator to be based at the
Base for each Lease Term. In this case, all support which as per the Agreement needs to be provided for Lessor’s crew will be provided for the maintenance coordinator as reasonable. 

 

	 	11.6.	 Parties agree that the Aircraft will return to the Base, in principle all evenings to allow for a single base
maintenance station. 

  

	12.	 LESSOR’S RESPONSIBILITIES. UNSERVICEABILITY 

Lessor during each Lease Term at its own cost (unless otherwise stated) shall: 
  

	 	12.1.	 Ensure that each Aircraft: 

 

	 	a.	 is serviceable and equipped for commercial airline operations; 

 

	 	b.	 has a valid and current Certificate of Airworthiness and a valid Aircraft Operating Certificate;

  

	 	c.	 is delivered clean and defect free by international standards and ready for commercial services; and

  

	 	d.	 has onboard, prior to each Flight, the official documents for the operation of the Aircraft and the carriage of
passengers, baggage, cargo and mail on Flights; 

  

	 	12.2.	 Provide sets of cockpit crew as stated in Article 11 and aircraft maintenance engineers as well as ensure that
Aircraft is maintained and operated in accordance with the requirements of the Aviation Authority in accordance with Lessor’s approved maintenance program; 

 

	 	12.3.	 Will place at the Base sufficient, well trained maintenance personnel, as well as sufficient spare parts, tools
and maintenance equipment, updated maintenance documentation as per standard industry practice. 

  

	 	12.4.	 Procure and maintain insurance as set out in Article 19; 

 

	 	12.5.	 Grant access on board the Aircraft to Lessee’s personnel and FAA inspectors whilst performing their
official duties; 

  

	 	12.6.	 Be responsible for all scheduled and unscheduled maintenance including
pre-fiight and technical transit checks and maintenance related procedures; 

  

	 	12.7.	 Rent to Lessee two sets of Atlas galley equipment per aircraft or any other amount as agreed between parties,
the cost of which will be included in the Rent. Lessee then is liable for return of the equipment in the state it was received, subject to normal wear and tear, failing to do so incurring penalty of USD125 for lost or damaged container, USD550 for
lost or damaged full-size trolley, USD450 for lost or damaged half size trolley. Signature of acceptance certificate is necessary when accepting catering equipment. 

 

	 	12.8.	 Be responsible for flight plans, load sheets and technical sign offs. 

 

	 	12.9.	 If the expected unavailability of an Aircraft for a planned Flight of Lessee is more than 2.5 hours after its
original scheduled departure time, as determined by Lessor’s AOG status message, then Lessee has the right to cancel the affected Flight, and its return sector, from Lessor’s Flight program and deduct the cancelled Block Hours from the

  
 9 

 
Minimum Period Guarantee of the applicable Lease Term. Should Lessor not operate a Flight in accordance with the agreed Flight Program due to unscheduled maintenance, unserviceability. crew
shortage for planned flights or for any other reason within the responsibility of Lessor, then in any event the Lessee will be refunded for Block Hours not flown and the Minimum Period Guarantee of the applicable Lease Term will be reduced
accordingly. Such credit will be reconciled at the end of each Lease Term. 
  

	 	12.10.	 For the avoidance of doubt, as per Annex B, subclause s) ix, organization and expenses of any customs-related
activities is Lessor’s responsibility, and non-performance thereof cannot be the reason for Lessor’s loss of revenue or Minimum Period Guarantee reduction. Any custom related activity in relation to
maintenance of Aircraft falls under Lessor’s responsibility. 

  

	 	12.11.	 In case the Aircraft is unserviceable for longer than 2,5 hours hours, and Lessor has not supplied a
Replacement Aircraft, then Lessee has the right to operate the Flight(s) on its own accord or lease a third-party aircraft, in which case Lessor will compensate for difference in wet lease rates and difference in direct operating cost for initially
scheduled and planned flights. Lessee’s and Lessor’s wet lease rates are considered similar. For avoidance of doubt, such rate difference shall not be higher than USD 2000 per Block Hour. In any case, Lessor agrees to advise to Lessee
earliest possible the most precise back in service time. 

  

	 	12.12.	 Lessor shall ensure that all services and carriage hereunder shall be in accordance with the regulations of
EASA, the International Civil Aviation Organization (ICAO) and all other applicable international and government regulations. 

  

	13.	 LESSEE’S RESPONSIBILITIES 

Lessee during each Lease Term at its own cost (unless otherwise stated) shall: 
  

	 	13.1.	 Be responsible and provide for support during each Lease Term to Lessor stipulated in Annex A and Annex B as
well as wherever reference to such support is made; 

  

	 	13.2.	 Provide all support from Lessee to Lessor as of arrival of preparation team, up and until the Redelivery Date.;

  

	 	13.3.	 Ensure and grant the right to Lessor to perform audits and inspections of Lessee and Lessee’s contractors;

  

	 	13.4.	 Provide to Lessor at the end of each Lease Term a proof of overflight payment execution for all Flights flown
on Lessors Aircraft; 

  

	 	13.5.	 Should Lessee be unable to provide any of aforementioned support, then Lessor will fully recharge all cost
accrued to Lessee and the latter will pay that within three days from invoice date, provided relevant supporting documentation is provided by Lessor; 

  

	 	13.6.	 Pay on time in accordance with payment schedule herein. 

 

	 	13.7.	 Provide all and any customer welfare, reprotection, support and compensation, and fully indemnify Lessor
against any such claims including any compensations and/or assistance to passengers under Regulation (EC) No 261/2004 of the European Parliament and of the Council of 11 February 2004 establishing common rules on compensation and assistance to
passengers in the event of denied boarding and of cancellation or long delay of flights, and repealing Regulation (EEC) No 295/91 (hereinafter—“Regulation (EC) No 261/2004”); Montreal convention or Warsaw convention;. unless in case
the cause for such welfare, reprotection, support and compensation are due to gross negligence or the wilful misconduct on behalf of the Lessor. 

  

	 	13.8.	 Provided that it does not interfere with Lessee’s quiet use. possession and enjoyment of the Aircraft in
accordance with the terms of this Agreement, grant full right to inspect, audit and oversight to Lessor. 

  

	 	13.9.	 Lease Aircraft after signature of Agreement, unless Lessor fails to meet conditions precedent.

  

	 	13.10.	 Not to transport deportees or ACC3 status cargo or mail without Lessor prior written consent.

  
 10 

	14.	 TRAFFIC DOCUMENTS AND SCHEDULE CHANGES 

 

	 	14.1.	 The Flight Schedule shall be agreed between parties no later than 90 days prior to the commencement of each
Lease Term. 

  

	 	14.2.	 Parties agree that changes to a Flight that will be binding on Lessor can be sent to Lessor no later than 48
hours prior to Flight, however Lessor shall use reasonable endeavours to facilitate any Flight Schedule changes subject to crew duty limitations and already scheduled maintenance tasks. Same applies to Lessor advising of need for slots for scheduled
maintenance, subject to Aircraft not pre-booked for executing some Flights. Change of destination is not subject to this advance notice. 

 

	 	14.3.	 Lessee’s conditions of carriage issued to passengers by Lessee regulate carriage of passengers.

  

	 	14.4.	 Lessee is fully responsible for checking passengers for all travel documents as well as for accomplishing
immigration and customs clearance of passengers, baggage, cargo and mail. Lessee shall be liable for all penalties levied as a result of illegal transportation of Lessee’s employees and passengers and their property on the Aircraft.

  

	 	14.5.	 Lessee confirms awareness that Lessor will only provide navigation data base for destinations of the Flight
Schedule or indicated prior to commencement of each Lease Term. Any off-cycle navigation data base update shall be on Lessee’s cost at USD5,500 per off-cycle
update. 

  

	15.	 EVENTS OF DEFAULT 

  

	 	15.1.	 Each of the following events shall be a Lessee Event of Default: 

 

	 	a.	 If Lessee fails to pay when due, any amount due and payable by it hereunder and in respect of Rent and pay and
if such failure remains unremedied for a period of two (2) days after receipt of written notice from Lessor, and in respect of any other amount payable hereunder if such failure remains unremedied for a period of three (3) days after
receipt of written notice from Lessor; or 

  

	 	b.	 If Lessee shall at any time fail to observe or perform any of its other obligations in accordance with
Agreement and such failure, if capable of remedy, is not remedied within three (3) days of receipt by Lessee of notice from Lessor requiring remedial action; or 

 

	 	c.	 If insurance agreed in Agreement is invalidated for any reason attributable to Lessee; or

  

	 	d.	 If any representation or warranty of Lessee of Agreement shall be untrue, inaccurate or misleading in any
material respect when made; or 

  

	 	e.	 If a supervisor, receiver, administrator, or other encumbrancer takes possession of or is appointed over, or
any distress, execution or other process being levied or enforced (and not being discharged within thirty (30) days) upon all or substantially all of the assets of Lessee and in each case, is such as materially adversely affect the ability of
Lessee to perform its obligations hereunder; or 

  

	 	f.	 If Lessee fails to take Aircraft on lease once all conditions precedent have been satisfied or waived on the
dates agreed in this Agreement. 

  

	 	g.	 If Global X Event of Default has occurred under Lease 2. 

 

	 	15.2.	 The occurrence of a Lessee Event of Default as specified in Article 15.1 permits Lessor to either immediately
temporarily halt operation of Aircraft or with two (2) days advance written notice to Lessee terminate this Agreement with immediate effect, in which case Article 4.4 shall apply. 

 

	 	15.3.	 Each of the following events shall be a Lessor Event of Default: 

 

	 	a.	 If the Lessor shall at any time fail to observe or perform any of its obligations in accordance with the
Agreement and such failure, if capable of remedy, is not remedied within three (3) days of receipt by Lessor of notice from Lessee requiring remedial action; or 

  
 11 

	 	b.	 If a supervisor, receiver, administrator, or other encumbrancer takes possession of or is appointed over, or
any distress, execution or other process being levied or enforced (and not being discharged within thirty (30) days) upon the whole or any substantial part of the assets of Lessor and in each case, is such as shall materially adversely affect
the ability of Lessor to perform its obligations hereunder; or 

  

	 	c.	 If insurance agreed in Agreement is invalidated for any reason attributable to Lessor; or

  

	 	d.	 If any representation or warranty of Lessor contained in Agreement or in any document or certificate furnished
by Lessor to Lessee in connection with Agreement shall be untrue, inaccurate or misleading in any material respect when made; or 

  

	 	e.	 If Lessor shall fail to deliver the Aircraft or Replacement Aircraft (other than for reasons of Force Majeure
or Total Loss) on any Delivery Date; 

  

	 	f.	 If Lessor ceases to be a commercial air carrier hence failing to perform the services; or

  

	 	g.	 If Lessor exercises its termination rights as set out in the Subscription Receipt Indenture.

  

	 	15.4.	 The occurrence of a Lessor Event of Default as specified in Article 15.3 permits Lessee by two (2) days
advance written notice to Lessor terminate this Agreement with immediate effect. Notwithstanding, such termination does not acquit Lessee from fulfilling all accrued liabilities up to the effective date of termination. 

 

	16.	 FORCE MAJEURE 

  

	 	16.1.	 Lessor or Lessee shall not be liable for any failure or delay in the performance of any obligations in
accordance with this Agreement due to a Force Majeure at the Base of Lessee or any destination operated by Lessee. 

  

	 	16.2.	 In the event of a Force Majeure situation continuing for a period of seven (7) days or longer (during
which time the Parties shall use their best efforts to alleviate the effects of the Force Majeure situation), either Party will be free immediately to terminate the Agreement by notice in writing to the other, provided always that any such
termination shall be without prejudice to any obligations accrued at the date of termination and to any continuing obligations in accordance with Agreement. During Force Majeure, Minimum Period Guarantee of respective Lease Term shall be reduced
accordingly. 

  

	 	16.3.	 At the time of concluding this Agreement, the Parties are fully aware of the situation related to the spread of
the COVID-19 virus and the measures taken to limit it, including orders and acts issued by their governments. Parties confirm that their commitments included in this Agreement are made fully considering the
situation related to the spread of the COVID-19 virus, which has already occurred and is existing at the time of concluding this Agreement. The Party whose obligation is not possible due to force majeure
circumstances related to this situation shall submit to the other Party a statement from the competent authority regarding the occurrence of such circumstances and the direct impact on the fulfillment of the obligations of the Agreement.

  

	17.	 DAMAGE, DESTRUCTION OF AIRCRAFT. EMERGENCY RESPONSE (ERP) 

 

	 	17.1.	 Throughout the Lease Term, risk of loss or damage to Aircraft shall be the sole risk of Lessor.

  

	 	17.2.	 In the event that Aircraft shall have suffered a Total Loss during any Lease Term, then the leasing of the
Aircraft suffering Total Loss in accordance with the Agreement shall be cancelled and terminated as of the date and Lessor shall return the Deposit as well as all prepayments for paid but unflown flights to Lessee. 

 

	 	17.3.	 The Parties shall exchange emergency response programs (ERP) prior to the commencement of each Lease Term.

  

	 	17.4.	 In an emergency situation the ERP of Lessee as approved by Lessor, will serve as guideline for action and
communication regarding passenger welfare. Similarly, Lessor’s ERP will serve as guideline for action and communication regarding crew welfare, and Aircraft recovery. 

 

	 	17.5.	 Lessee commits to inform all of its relevant suppliers (ground handlers and similar) that some of Lessee’s
flights will be operated using the Aircraft. All contacts in clause 17.8. below will be provided to Lessee’s suppliers. 

  
 12 

	 	17.6.	 If Lessee is advised by one of its suppliers that an emergency situation has occurred, Lessee shall immediately
informs Lessor at the contacts set forth in clause 17.8. 

  

	 	17.7.	 Parties indicate following ERP contact for Lessee: 4th
Floor, 4200 NW 36th Street, Miami, FI 33166. 

  

	 	17.8.	 Parties indicate following ERP contact for Lessor: occ@smartlynx.aero and erc@smartlynx.aero

  

	 	17.9.	 Should Lessor, acting reasonably, deem Lessee’s ERP insufficient, then Lessor shall advise Lessee, setting
forth the deficiencies in Lessee’s ERP. Until Lessee rectifies such deficiencies, Lessor’s procedures will serve as guideline for action and communication regarding passenger welfare, all cost borne by Lessee. 

 

	 	17.10.	 Parties agree to coordinate the release of any information to the media. Lessee agrees not to release any
information regarding an emergency situation to the media prior receipt of official information from Lessor, provided that Lessee shall be permitted to make such disclosures as are required by law, regulation or stock exchange rule. Information is
considered official if sent from following email addresses: aleksandrs.gusevs@smartlynx.aero; zygimantas.surintas@smartlynx.aero or other as may be suggested from time to time. 

 

	18.	 LIABILITY AND INDEMNITY 

 

	 	18.1.	 Lessor shall indemnify, defend and hold harmless Lessee from and against all costs, claims, demands, suits,
judgments and causes of action of or brought by any third party (other than intentional harmful actions of passengers or owners of cargo carried on Aircraft) on account of injury or death or for loss of or damage to property (including Aircraft
itself) arising out of the operation and/or maintenance of Aircraft, other than as may arise out of the gross negligence or willful misconduct of Lessee, its directors, officers, servants, employees and agents 

 

	 	18.2.	 Lessee shall indemnity, defend and hold harmless Lessor, Head Lessor from and against all costs, claims,
demands and causes of action brought by any passengers or owners of cargo carried on Aircraft on account of injury or death or for loss of or damage to property (other than Aircraft itself) arising out of the operation and/or maintenance of
Aircraft, other than as may arise out of the gross negligence or wilful misconduct of Lessor, its directors, officers, servants, employees and agents. 

  

	 	18.3.	 Each Party shall assume responsibility for death of or injury to or sickness or loss or damage to property of
its own employees (including employees provided by one Party to the other in accordance with Agreement) and shall indemnify, defend and hold harmless the other in respect thereof, unless caused by the gross negligence or willful misconduct of the
other Party. 

  

	 	18.4.	 Lessee shall, subject to the Warsaw Convention, Montreal Convention, Regulation (EC) No 261/2004 or any other
regulation, as applicable, and subject to the terms of Agreement be liable for any delay, injury or death suffered, incurred or in respect of any passenger or any other person carried or to be carried on Aircraft or any loss, damage, destruction or
delay of or to any cargo, baggage, personal effects or mail carried or to be carried by Aircraft and caused by an occurrence arising out of or incidental to the possession, use, maintenance or operation of Aircraft in accordance with Agreement and
Lessee shall indemnify and hold Lessor, Head Lessor, Owner and Indemnities harmless in respect of all liability, costs, claims, demands, suits, judgments or actions including all costs and expenses of any defense unless caused by willful misconduct
or gross negligence of Lessor. 

  

	 	18.5.	 Lessor shall be liable for any loss or damage to property or any injury or death of any person not carried by
Aircraft caused by an occurrence arising out of or incidental to the possession, use, maintenance or operation of Aircraft in accordance with Agreement and Lessor shall indemnify and hold Lessee harmless accordingly in respect of all liability,
costs, claims, demands, suits, judgments or actions including all costs and expenses of any defense except when such loss or damage is caused by the willful misconduct or gross negligence of Lessee. 

 

	 	18.6.	 Lessee shall indemnify and hold Lessor harmless in respect of all liabilities, costs, claims, demands, suits,
judgments and causes of actions of or brought by a third party, including costs and expenses of any defense, arising from Lessee’s failure to comply with its obligations under Article 13 hereof, and Lessor shall indemnify and hold Lessee
harmless in respect of all liabilities, costs, claims, demands, suits, judgments and actions including costs and expenses of any defense, arising from Lessor’s failure to comply with its obligations under Article 12 hereof.

  
 13 

	 	18.7.	 Each Party shall pay to the other Party on demand all expenses (including legal, survey and other costs)
payable or incurred by the other Party in contemplation of, or otherwise in connection with, the enforcement of or preservation of any rights in accordance with Agreement or otherwise in respect of moneys owing in accordance with Agreement or in
respect of any breach of any representation, warranty, covenant or undertaking herein contained or in respect of the repossession of Aircraft. 

  

	 	18.8.	 The indemnities contained in Agreement shall continue in full force and effect notwithstanding the expiration
or other termination of Agreement. 

  

	19.	 INSURANCE 

  

	 	19.1.	 Lessor at its own cost and expense shall maintain in full force and effect during Lease Term Aircraft Hull and
Third party Legal Liability insurance (including, to the fullest extent available, war and allied perils coverage for those perils excluded by War, Hijacking and Other Perils Exclusion Clause AVN48B or any modification or substitution thereof for
the time being in force) for a Combined Single Limit of not less than USD 750,000,000 (Seven Hundred Fifty Million United States Dollars) each occurrence, unlimited in all but in the aggregate in respect of war and allied perils coverage. The Hull
Insurance shall contain a waiver of rights of subrogation against the Lessee, provided that such waiver of rights of subrogation will not apply to any damage to the Aircraft caused by the gross negligence or willful misconduct of any Lessee.

  

	 	19.2.	 The insurance maintained by Lessor shall include Lessee, its directors, officers, servants, employees and
agents as additional insureds (except in respect of claims caused by the gross negligence or willful misconduct of any of Lessee, its directors, officers, servants, employees and agents). 

 

	 	19.3.	 In case Lessee shall require flights to Excluded Countries and Lessor, its insurer and Head Lessor have
provided their written consent to operate such flights with Aircraft, Lessor shall maintain and Lessee will provide payment for, within five (5) days from invoice date, Hull All Risks and Hull War and Allied Perils insurance for Aircraft
providing a waiver of subrogation against Lessee, its directors, officers, servants, employees or agents (except in respect of claims caused by the gross negligence or willful misconduct of any of Lessee, its directors, officers, servants, employees
and agents). 

  

	 	19.4.	 Lessee at its own cost and expense shall maintain in full force and effect during Lease Term passenger
(including passengers baggage and personal effects, war risk supplement per person), cargo and mail legal liability insurance for a combined single limit of not less than USD 750,000,000 (Seven Hundred Fifty Million United States Dollars) each
occurrence, unlimited in all (including to the fullest extent available war and allied perils coverage for those perils excluded by War, Hijacking and Other Perils Exclusion Clause A VN48B or any modification or substitution thereof for the time
being in force). 

  

	 	19.5.	 The insurance maintained by Lessee shall include Lessor and Head Lessor and their directors, officers,
servants, agents and employees as additional insureds. 

  

	 	19.6.	 Certificates of Insurance, evidencing the principal details of the insurance arranged in respect of Agreement
shall be provided by each Party to the other. 

  

	 	19.7.	 Lessee shall bear any additional insurance premiums for hull war risks or third-party liability if the premiums
are increased solely as a result from the operation of Aircraft in certain high-risk areas (as per latest excluded area clause) at the request of Lessee. Operation of such flights shall be subject to prepayment of relevant premiums. Lessor shall
inform Lessee of any intended increase in premium and, if requested by Lessee, shall cooperate with Lessee to reduce or eliminate such premiums. 

  

	 	19.8.	 The insurance maintained by Lessor may only be cancelled or materially altered in a manner adverse to the
Lessee by Lessor giving not less than thirty (30) days’ (seven (7) days’ or such lesser period as may be customarily available in respect of War and Allied Perils) written notice to Lessee. 

  
 14 

	20.	 REPRESENTATIONS AND WARRANTIES 

 

	20.1.	 Lessee hereby represents and warrants to Lessor that the following statements are, at the date hereof, true and
accurate: 

  

	 	a.	 Lessee is duly incorporated under laws of United States of America and has the power to conduct its as
presently conducted, to own or hold under charter or lease its assets, to enter into and perform its obligations under this; and 

  

	 	b.	 The documents which contain or establish Lessee’s constitution incorporate provision which authorize, and
all necessary corporate action has been taken to authorize Lessee to sign and deliver and perform the transaction contemplated by Agreement; and 

  

	 	c.	 The execution and delivery of, the performance of its obligations under, and compliance by Lessee with the
provisions of the Lease will not (i) contravene any existing applicable law of its state of registration (or any other laws applicable therein), (ii) conflict with, or result in any breach of any of the terms of, or constitute a default under,
any agreement or other instrument to which Lessee is a party or is subject or by which it or any of its property is bound, (iii) contravene or conflict with any provision of its constitutional and/or organizational documents, or
(iv) result in the creation or imposition of, or oblige it to create, any Lien over its undertaking or any of its assets, rights or revenues; and 

  

	 	d.	 Lessee is not in default under any material agreement to which it is a party or by which it may be bound and no
litigation, arbitration or administrative proceeding is taking place or, to the best of its knowledge, pending or threatened against Lessee which could have a material adverse effect on its ability to perform its obligations under the Lease; and

  

	 	e.	 The choice by Lessee of the Laws of England and Wales to govern the Lease and the submission by Lessee to the
jurisdiction of the courts in England is valid and binding on Lessee; and 

  

	 	f.	 In any proceedings taken in any jurisdiction in relation to any of the Lease, Lessee will not be entitled to
claim for itself or any of its assets immunity from suit, execution, attachment or other legal process; and 

  

	 	g.	 Lessee has fully disclosed to Lessor all facts which in Lessee’s reasonable belief are material for
disclosure to Lessor in the context of this Lease and thereby, Lessee knows of no material facts that would render any information previously furnished by or on behalf of Lessee to be inaccurate or misleading and all information provided by Lessee
is not misleading or inaccurate; and 

  

	 	h.	 No Event of Default has occurred and is continuing; and 

 

	 	i.	 Lessee is solvent and able to pay its debts as the same fall due and the transactions contemplated by the Lease
are of commercial benefit to it and in its commercial interests; and 

  

	 	j.	 Lessee is not, and is not affiliated with a sanctioned person, nor does it have funds that are transferred from
or through, nor does it have operations in any sanctioned country (any state, country or jurisdiction to which the use of Aircraft is not permitted under any sanctions, orders or legislation from time to time promulgated by any of: the United
Nations, the European Union, the U.S. (including OFAC); any country which is prohibited under Lessor’s insurance coverage from time to time in effect, or any Governmental Authority of Latvia or any country having jurisdiction over Owner, Lessor
or Head Lessor, the effect of which prohibits or restricts the location and/or consigning for use of the Aircraft in such state, country or jurisdiction); and 

 

	 	k.	 Lessee is subject to private commercial Law and suit under the Laws of all relevant jurisdictions, and Lessee
is not entitled to sovereign immunity under any such Laws and the entry into and performance by Lessee of the Lease constitutes private and commercial act; neither Lessee nor its assets have the right of immunity from suit, attachment or execution
on the grounds of sovereignty within any jurisdiction. Lessee covenants with Lessor that to the extent Lessee hereafter may acquire any such right of sovereign immunity, Lessee hereby irrevocably waives such rights in respect of its obligations
hereunder; and 

  

	 	l.	 This Agreement constitutes legal, valid and binding obligations of Lessee which are enforceable in accordance
with the provisions hereof. 

  
 15 

	 	20.2.	 Lessor hereby represents and warrants to Lessee that the following statements are, at the date hereof, true and
accurate: 

  

	 	a.	 Lessor is duly incorporated under the laws of Malta and has the power to conduct its activities as presently
conducted, to own or lease its assets, to enter into and perform its obligations in accordance with Agreement; and 

  

	 	b.	 The documents which contain or establish Lessor’s constitution incorporate provision which authorize, and
all necessary corporate action has been taken to authorize Lessor to sign and deliver and perform the transaction contemplated by Agreement; and 

  

	 	c.	 The Agreement constitutes legal, valid and binding obligations of Lessor which are enforceable in accordance
with the provisions hereof; and 

  

	 	d.	 The execution and delivery of, the performance of its obligations under, and compliance by Lessor with the
provisions of the Lease will not (i) contravene any existing applicable Law of its state of organization (or any other laws applicable therein), (ii) conflict with, or result in any breach of any of the terms of, or constitute a default under,
any agreement or other instrument to which Lessor is a party or is subject or by which it or any of its property is bound, or (iii) contravene or conflict with any provision of its constitutional and/or organizational documents; and

  

	 	e.	 On and as of Delivery, Lessor shall have the right to lease the Aircraft to Lessee; and 

 

	 	f.	 As long as no event of default of Lessee has occurred and is continuing Lessor shall ensure and guarantee that
the Head Lessor shall ensure the quiet enjoyment of Aircraft by Lessee. 

  

	21.	 COVENANTS 

  

	 	21.1.	 Lessee hereby covenants with Lessor that during the Lease Term until Lessee’s obligations hereunder have
been fully discharged it will: 

  

	 	a.	 subject to division of responsibilities between Lessor and Lessee of Articles 9 and 10 

 

	 	(i)	 not cause Aircraft to proceed to, or remain at, any location which is subject to a prohibition order (or
similar order or directive) or, as the case may be, a contractual restriction, limitation issued by the insurers of Aircraft (under all policies mentioned herein), Aircraft manufacturer, Head Lessor and any applicable Government Entity; and

  

	 	(ii)	 comply with all laws and regulations in United States and in any country to, from in or over which Aircraft is
flown 

  

	 	b.	 notify Lessor immediately of any occurrence which would adversely affect Lessee’s ability to perform any
of its obligations in accordance with Agreement and evidence effort to overcome effects of such occurrence; 

  

	 	c.	 obtain and maintain all necessary certificates, consents, licenses, permits and authorizations of Government
Entities and other relevant bodies and take all action which may be necessary for the continued due performance of Lessee’s obligations of Agreement and for the use and operation of Aircraft; 

 

	 	d.	 pay promptly when due all navigation and en-route charges and all other
charges payable by Lessee for the use of or services provided at any airport in respect of the Aircraft. 

  

	 	21.2.	 Lessor hereby covenants with Lessee that during the Lease Term until Lessor’s obligations hereunder have
been fully discharged it will: 

  

	 	a.	 not cause Aircraft to proceed to, or remain at, any location which is subject to a prohibition order (or
similar order or directive) or, as the case may be, a contractual restriction, limitation issued by the insurers of Aircraft (under all policies mentioned herein), Aircraft manufacturer, Head Lessor and any applicable Government Entity; and

  
 16 

	 	b.	 comply with all laws and regulations in force in Malta and in any country to, from in or over which Aircraft is
flown. 

  

	 	c.	 notify Lessee immediately of any occurrence which would adversely affect Lessor’s ability to perform any
of its obligations in accordance with Agreement and evidence effort to overcome effects of such occurrence; 

  

	 	d.	 obtain and maintain all necessary certificates, consents, licenses, permits and authorizations of Government
Entities and other relevant bodies and take all action which may be necessary for the continued due performance of Lessor’s obligations in accordance with Agreement and for the use and operation of Aircraft; 

 

	 	e.	 promptly provide copies of all reports or documents relating to Aircraft or its operation to Lessee.

  

	22.	 APPLICABLE LAW 

  

	 	22.1.	 Agreement shall be governed by and be construed in accordance with the laws of England and Wales. Parties agree
that courts of England have jurisdiction to settle any disputes that may arise in connection with the Agreement and irrevocably submit to the jurisdiction of the courts of England in respect of such disputes. 

 

	 	22.2.	 If any dispute or claim should arise between Parties relating to the Agreement or to any rights or obligations
conferred or provided for herein, Parties agree to each use all reasonable efforts to amicably resolve such dispute or claim. 

  

	 	22.3.	 Except as expressly provided herein, the remedies of Parties hereunder shall be limited to remedies for breach
of contract only, and, notwithstanding anything to the contrary contained in this Agreement, neither Party shall be entitled to pursue or seek punitive or consequential damages for any alleged breach relating to or arising in accordance with
Agreement. 

  

	23.	 NOTICES 

  

	 	23.1.	 All notices, requests, demands and other communications required or permitted by the terms of Agreement to be
given or made to either Party shall (unless otherwise specified) be in writing in English and shall be given by any one of the following means: personal delivery, airmail, fax or e-mail to the addresses and
numbers given below or at such other address or number the recipient may have notified to the other Party in writing, and shall be deemed duly served upon receipt. 

 

	 	a.	 Lessors’ address: 

SMARTLYNX AIRLINES MALTA, a company organized under the laws of Malta, whose address is at Nu Bis Centre, Trig
II-Mosta, hal Lija, LJA 9012, Malta, 
 Phone: +3717207392
                Fax +3717207392 
 Email info@smartlynx.aero
and aleksandrs.gusevs@smartlynx.aero 
 Represented by Aleksandrs Gusevs, Board Member and VP Commercial 

 

	 	b.	 Lessee’s address: 

Global Crossing Airlines, Inc, an air carrier established under the laws of United States of America, at 4th Floor, 4200 NW 36th Street,
Miami, Fl 33166, 
 Phone: NUMBER: 305.869.4780 

Email: ryan.goepel@globalairlinesgroup.com 
  

	 	23.2.	 All notices shall be in writing, in English and shall be deemed received: 

 

	 	a.	 in the case of a notice delivered personally, at the time of delivery; 

 

	 	b.	 in the case of a notice by facsimile on confirmation of receipt; and 

 

	 	c.	 in the case of e-mail, the day on which it has been sent to any of
email addresses above 

  

  
 17 

	24.	 CONFIDENTIALITY AND DATA PROTECTION 

 

	24.1.	 Each Party (which for this purpose will include each Party’s employees, agents, representatives and
advisors) undertakes that it shall not at any time during the Lease Term and for a period of five (5) years after termination of this Agreement, disclose to any person any confidential information concerning the other Party’s business,
affairs, customers, clients or suppliers or this Agreement (including but not limited to any reports, data or information furnished under this Agreement), except as permitted by Article 24.2. 

 

	24.2.	 Each Party may disclose the other Party’s confidential information: (a) to its employees, agents,
representatives and advisers who need to know such information for the purposes of exercising the Party’s rights or carrying out its obligations under or in connection with this Agreement. Each Party shall ensure that its employees, agents,
representatives or advisers to whom it discloses the other Party’s confidential information comply with Articles 24.1 to 24.3; and (b) as may be required by law, a court of competent jurisdiction or any regulatory or statutory authority.

  

	24.3.	 Neither Party shall use the other Party’s confidential information for any purpose other than to exercise
its rights and perform its obligations under or in connection with this Agreement. 

  

	24.4.	 The provisions of Articles 24.1 to 24.3 shall not apply to any confidential information that: (a) is or
becomes generally available to the public (other than as a result of its disclosure by the receiving Party (including its agents, employees or representatives) in breach of this clause); (b) was available to the receiving Party on a non-confidential basis before disclosure by the disclosing Party; or (c) was, is or becomes available to the receiving Party on a nonconfidential basis from a person who, to the receiving Party’s
knowledge, is not bound by a confidentiality agreement with the disclosing Party or otherwise prohibited from disclosing the information to the receiving Party. 

 

	24.5.	 Neither Party will acquire any right in the other’s data and/or information. The receiving Party will take
all necessary steps to ensure that it will not use nor reproduce any data, information or know-how of the disclosing Party which comes into its possession or control, except as required by this Agreement.

  

	24.6.	 Each Party shall take all necessary steps to ensure that data and information belonging to the other Party
which comes into its possession or control in the course of this Agreement is protected and shall not: (a) use the data or information nor reproduce the data or information in whole or in part in any form except as may be required by this
Agreement; (b) disclose the data or information to any third party or persons not authorized by the disclosing Party to receive it, except with the prior written consent of the disclosing Party; or (c) alter, delete, add to or otherwise
interfere with the data or information (save where expressly required to do so by the terms of this Agreement and only with the prior consent of the disclosing Party). 

 

	24.7.	 Each Party shall ensure that if it becomes aware of any data security breach it shall immediately take all
steps necessary to prevent further breach, and it shall immediately report any such breach of this Article 24 to the other Party. 

  

	24.8.	 To the extent that any data or information belonging to a disclosing Party that may be processed or accessed by
the other Party is personal data within the meaning of any applicable data privacy or personal data legislation, the Parties will comply with all applicable rules and regulations. 

 

	24.9.	 Each Party will indemnify and hold the other Party harmless (and keep it indemnified and held harmless
notwithstanding termination of this Agreement) against all costs, claims, demands, suits, judgments and causes of action of or brought by any third party directly as a result of any breach by the indemnifying Party of any of the provisions of this
Article 24. 

  

	24.10.	 This Article 24 shall survive the termination or expiry of this Agreement. 

 

	25.	 MISCELLANEOUS 

  

	 	25.1.	 Nothing in the Agreement is intended to create any form of partnership or joint venture between Parties.

  
 18 

	 	25.2.	 Neither Party may assign or otherwise transfer any of its rights and/or obligations in accordance with
Agreement without the prior written consent of the other Party. 

  

	 	25.3.	 The terms and conditions of Agreement shall not be varied otherwise than in writing and executed by Parties.

  

	 	25.4.	 The failure of any Party in any one or more instances to insist upon observance of one or more of the covenants
or conditions hereof, or to exercise any remedy, privilege or option herein conferred upon or reserved to such Party, shall not be construed as a waiver of any future breach of any covenants or conditions or of the right to enforce the same or to
exercise such privilege, option or remedy. 

  

	 	25.5.	 If any term or condition of Agreement shall to any extent be invalid or unenforceable, the remainder of
Agreement shall not be affected thereby and each other term and condition shall be valid and enforceable to the fullest extent permitted by law. 

  

	 	25.6.	 Parties shall keep the terms and conditions of Agreement confidential. The parties shall consult with each
other with respect to any proposed redactions to this Agreement in compliance with applicable laws before it is filed publicly. 

  

	 	25.7.	 The rights and remedies conferred on Parties by Agreement are cumulative and are not exclusive of any rights
and remedies provided by law. 

  

	 	25.8.	 Lessee shall not (except with the prior written consent of Lessor) directly or indirectly solicit or entice
away (or attempt to solicit or entice away) from the employment or engagement of Lessor any person (employee, worker or independent contractor) employed or engaged by Lessor at any time during the term and for a further period of 12 months after the
termination of this Agreement. If Lessee commits any breach of this clause, Lessee shall, on demand, pay to Lessor a sum equal to USD150 000 plus the recruitment costs incurred by Lessor in replacing such person. 

 

	 	25.9.	 This Agreement may be executed in any number of copies. A signed and scanned signature on any copy shall be
deemed an original for all purposes. 

  

	 	25.10.	 This Agreement is valid for acceptance until 1st of June, 2020. Should due to any reason Agreement not be
signed by Lessee by this date, Lessor has right to release Aircraft in the market or reoffer it to Lessee at different commercial conditions. 

  

	 	25.11.	 Parties shall each bear their own legal costs arising out of documenting this transaction.

 IN WITNESS WHEREOF Parties have caused Agreement to be executed the date first above written. 

Made in Malta and Made in Miami 
  

									
	For and on behalf of	 		 	For and on behalf of
			
	SMARTLYNX AIRLINES MALTA – LESSOR	 		 	Global Crossing Airlines, Inc – LESSEE
					
		 	/s/ Aleksandrs Gusevs	 		 		 	/s/ Ryan Goepel
		 	Aleksandrs Gusevs	 		 		 	Ryan Goepel
		 	Board Member	 		 		 	EVP and CFO

  
 19 

 Annex A 

Rates, Payments and Additional Support 
  

	1.	 RENT 

  

	 	1.1.	 Lessee shall pay Lessor Lease Rate of Two Thousand Five Hundred USD (USD 2500) per Block Hour for all Block
Hours in accordance with Minimum Period Guarantee. 

 The Block Hour rates set forth in this Article 1.1 shall be increased
for inflation on 1 December of each calendar year (commencing 1 December 2021) by a percentage amount equal to three percent (3%). 
  

	 	1.2.	 Rent is inclusive of cockpit crew and per diems at Fifty USD (USD 50) per person per day, exclusive of
accommodation at Base as well as exclusive of any air or ground crew positioning costs to and from Base, if direct related to the flight program of Lessee. 

  

	 	1.3.	 Lessee shall prepay Lessor Rent for all Additional Block Hours over and above the Minimum Period Guarantee of
respective Lease Term according to rates of Annex A, Article 1.1. 

 For avoidance of doubt, Lessor is not obliged to
operate hours in excess of Minimum Period Guarantee, but shall not unreasonably refuse any such requests from the Lessee. 
  

	 	1.4.	 All payments shall be made without deduction or withholding and in immediately available funds. All payments
are considered executed when received in Lessor’s bank account. 

  

	 	1.5.	 Lessor shall report to Lessee the number of actual Block Hours flown based on Aircraft Journey Log report
within 24 hours after each given Flight. Journey Log serves as reference for accounting Block Hours. Block Hours are measured to two decimal places. 

  

	 	1.6.	 Block Hours associated with deliver)’ and redelivery of each Aircraft shall not be counted towards Minimum
Period Guarantee of respective Lease Term and shall be paid as per clause 5.1 of ACM I Agreement. 

  

	 	1.7.	 After completion of redeliver) flight, fuel reconciliation shall be performed compared to position prior to
delivery flight. Fuel reconciliation shall be performed after each time Aircraft has left Base in accordance with Article 9.5 of Agreement. Rent of extra cabin crew or flight crew is reconciled at the end of the Lease Term but prepaid as per
approximate amounts prior to being used. 

  

	 	1.8.	 Lessor is obliged to provide cabin crew trainers to train Lessee’s cabin crews in accordance with
procedures of Lessor so as to permit them operate on the Aircraft independently. In the alternative, parties might evaluate an option that Lessee may provide a crew trainer to be trained by Lessor and then the crew trainer shall be responsible for
providing training to the rest of Lessee’s cabin crew. Trainer services fee is in amount of $200USD per person per day and all expenses, including travel, hotel accommodation of trainer, facility rental, and materials printing are Lessee’s
cost. 

  

	 	1.9.	 Lessor may provide services of their cabin crew, at extra cost of $75USD per person per Block Hour operated and
all other support on Lessee expense prepaid. It is Lessee’s decision to request or not cabin crew members to operate the flights. 

  

	 	1.10.	 Lessee acknowledges that the Lessor may conduct periodic evaluations of the cabin crew as required by the
Aviation Authority, by way of observation on certain flights. Lessee is liable for paying fee. under Annex A Article 1.9 as well as all travels and hotel accommodation for such observers. Such observation flights shall be coordinated between parties
and shall not exceed 5% of all flights. 

  

	 	1.11.	 Should flights operate in a W-pattern occur, or flight operations to
down route stations not supported by EASA approved part 145 A320 MRO providers, then a flying spanner shall be required on such flights, and Lessor may provide such at extra costs of Sixty Five USD (USD 65) per person per Block Hour, plus per diem
of Seventy USD (70USD) and all other support, on Lessee cost. 

  
 20 

	 	1.12.	 The rate is based on average hour cycle ratio for Lease Term of 3:1 and if any calendar month during Lease Term
the ratio will be lower than 10% from above, that is, below 2.7:1, Lessee will compensate this by paying a surcharge on all hours flown during that calendar month by a percent increase in Lease Rate that corresponds to decimal insufficiency towards
cycle ratio above. 

  

	 	1.13.	 Whenever Lessor’s cabin crew is operating for Lessee, they are entitled to same onboard sales bonus as
Lessee’s own cabin crew operating on Flights, if any. Details of such are further agreed between Parties. 

  

	2.	 PAYMENT 

  

	 	2.1.	 Following Rent payment schedules for Lease Term One, Lease Term Two, Lease Term Three, Lease Term Four, Lease
Term Five, Lease Term Six, Lease Term Seven and Lease Term Eight will apply, in any Lease Term payment dates being 1st date of month for 16th to last date of that month, and 15th date of month for the
lsl to 15lh date of the following month, any date being weekend or national holiday payment will be made on previous workday.

 All payments to be made in accordance with Agreement by Lessee to Lessor shall be made directly into Lessor’s
account, as per below details: 
 Account number – 0001E939 

Beneficiary ASSOCIATED FOREIGN EXCHANGE 

21045 CALIFA ST, WOODLAND HILLS 

CA 91367, USA 
 IBAN
GB04BARC20000042824I44 
 Bank BARCLAYS BANK PLC 

1 CHURCHILL PLACE 
 E14 5HP LONDON

 SWIFT code BARCGB22 
 Rent
payments and all other sums payable shall be in USD and shall be free of banking charges and fees shall be deemed to have been made on the date on which they are received in Lessor’s bank account. 

 

	2.2.	 Any set off or deduction is subject to written consent of Lessor. 

 

	2.3.	 All incoming payments from Lessee to Lessor will first be applied to least recent invoices unpaid.

  

	2.4.	 An interest rate of 3% per annum shall be applied on all outstanding payments, as of date when payment should
have been latest received to date when they were actually received. 

  

	2.5.	 All payments are considered executed when received in Lessor’s bank accounts. Non-operation of Flights due to Lessee’s non-fulfilment of payment obligations does not release them from accruing obligations. 

 

	2.6.	 Block Hours over Minimum Period Guarantee are prepaid at estimate level and reconciled at the end of each Lease
Term. For avoidance of doubt, all Block Hours are paid prior they are flown. 

  

	2.7.	 Intentionally blank; 

 

	2.8.	 At the end of each Lease Term, reconciliation will be completed within 30 days after the redelivery’ of
Aircraft. 

  

	2.9.	 Lessor has right not to operate Flights if any payment due is not received. 

 

	2.10.	 All ancillary payments (travel cost, trainer fee and similar) are prepaid at estimated level for following
month on15th date prior month when such are consumed, reconciled as per actual, until 15th date of following month. 

  

	3.	 DEPOSIT 

  

	 	3.1.	 To ascertain that Lessee Leases the Aircraft and fulfils their obligations herein, Lessee shall provide a
deposit (the “Deposit”) in a form of cash from a respectable bank, amounting to Two Hundred Fifty Thousand USD (USD 250 000) per each Aircraft 1 and Aircraft 2. The Deposit shall be paid as follows: 

 

	 	a)	 For Aircraft-1: For Lease Term One: USD 250 000 within 5
Business Days after signature of this ACMI Lease Agreement but in any case, no later than 4th of June, 2020; 

  
 21 

 For Lease Term Two and all following Lease Terms: USD 100 000 no later than 31st of July of each applicable calendar year, USD 100 000 no later than 30lh of September of each applicable calendar year and USD 50 000
no later than lst of November of each applicable calendar year. 
  

	 	b)	 For Aircraft-2: For Lease Term Two and all following Lease Terms USD
100 000 no later than 31st of July of each applicable calendar year. USD 100 000 no later than 30th of September of each applicable
calendar year and USD 50 000 no later than 1st of November of each applicable calendar year. 

Within 30 days of the end of each Lease Term, Lessor shall return the full amount or part hereof of the Deposit to Lessor. For avoidance of doubt, first
instalment of Aircraft-1 of USD 50 000 is a non-refundable amount to be kept by the Lessor in any conditions. 

 

	 	3.2.	 Lessee acknowledges that Lessor may access and use Deposit in all and any cases as stipulated by Agreement,
inparticular to remedy obligations to lease Aircraft during each Lease Term, pay or provide support, without prejudice to any other remedies available to Lessor. 

If, for any reasons cash deposit is used and applied as payment for Lessee’s due obligations in whole or in part during Lease Term, Lessee
shall restore cash deposit to the full amount within five (5) days from notification of Lessor. 
  

	 	3.3.	 Lessor shall within two (2) days after a written request of Lessee to release the Deposit one of the
following occur: 

  

	 	a.	 Lessor does not obtain the necessary approvals from board or Head Lessor to enter into Agreement,

  

	 	b.	 Lessor Aviation Authority does not approve lease of Aircraft, 

 

	 	c.	 Aircraft inspection or Audit of Lessor by Lessee has a justifiable unsatisfactory conclusion,

  

	 	d.	 Insurance agreed in the Agreement is invalidated for any reason attributable to Lessor; or

  

	 	e.	 Lessor fails to deliver Aircraft (other than for reasons of Force Majeure or Total Loss) or Replacement
Aircraft on the Delivery Date; or 

  

	 	f.	 Lessor ceases to be a commercial air carrier hence failing to perform the services. 

 

	 	3.4.	 Lessee is obliged to provide Lessor with monthly evidence of payment of over flight fees as accrued by
Aircraft. Lessor may request Lessee to present evidence of payment of fees to other suppliers, including but not limited to ground handling agents and fuel suppliers. Provision of such information in a regular and accurate manner is a material
obligation of Lessee. 

  

	 	3.5.	 Failure of Lessee to abide to their obligations precludes Lessor from fulfilling theirs. 

IN WITNESS WHEREOF Parties have caused Agreement to be executed the day and year first above written. 

Made in Malta and Made in Miami 
  

									
	 For and on behalf of
	 		 	 For and on behalf of

			
	SMARTLYNX AIRLINES MALTA – LESSOR	 		 	Global Crossing Airlines, Inc – LESSEE
					
		 	/s/ Aleksandrs Gusevs	 		 		 	/s/ Ryan Goepel
		 	Aleksandrs Gusevs	 		 		 	Ryan Goepel
		 	Board Member	 		 		 	EVP and CFO

  
 22 

 Annex B 

Direct Operating Costs (DOC’s) 
 Lessee is
responsible for all expenses as follows, irrespective of whether Lessee has or has not been payer of those: 
  

	a.	 accommodation in single rooms of minimum 4*** international standard, with continuous room stock at same hotel
corresponding to contractual number of crews, professionally secured if deemed necessary by Lessor’s security management, on a bed and breakfast basis (early departure meals available) with free of charge wireless internet access and laundry
facilities in Base and all outstations, during duty and off-duty days for all Lessor’s crew, station manager and technical personnel. Choice of the hotel is subject to Lessor’s preparation
team’s consent, prerequisites for room facilities being climate control, smoke detector, direct phone line into room, black-out curtains, light level control, room’s size not less than 18sqm.

  

	b.	 ground transport for Lessor’s crew, station manager and technical personnel between the place of
accommodation and Base, professionally secured if deemed necessary by Lessor’s security management. Parties agree to use hotel shuttle for such ground transportation between the place of accommodation and Base, In case transportation is needed
outside of hotel shuttle working hours, a separate dedicated ground transportation shall be organized for Lessor’s personnel accordingly. Lessee acknowledges that maintenance personnel and crew have different patterns of need for ground
transport, all transport related to Lessee’s Flights. Travel for all Lessor’s crew, station manager and technical personnel to and from Base, whenever not related to Flights at maximum USD 75 000 (excluding extra crew and cabin crew and
cabin crew trainers) per each Lease Term per each Aircraft. Travel is organized by Lessor’s travel organization, except when related to Lessee’s Flights. First travel choice is by air at lowest coach standard rate with 1 check-in luggage included; if not available or suitable as deemed by Lessor’s crewing specialist then second choice is by land. 

 

	c.	 airside passes and work permits and all costs related to obtaining such, to be supplied latest at least one
week prior to of. 

  

	d.	 All visas, invitation letters and expenses associated with obtaining such, including security course, air side
driver’s license course and administrative fees. 

  

	e.	 suitable secure, clean and air-conditioned and Iockable storage space
airside for parts (if 10 sqm per aircraft for consumables and l0sqm per aircraft for wheels and brakes), with free of charge wired internet connection with non-blocked TCP/UDP ports for H323 VoIP calls and
230V electricity supply, isolated from Lessee activities or other activities, furnished with shelves capable to carry the load of components (20kgs per shelf) at Base. Lessee is obliged to provide technical drawings of such premises, as well as
address thereof no later than two weeks prior to of to allow set up and certify line maintenance station. 

  

	f.	 shared transport -landside and airside for Lessor’s technical personnel and station manager sufficiently
large to carry wheels and brakes as well as airside ID for the transport. 

  

	g.	 Airside escort, if such is needed. 

 

	h.	 As available with Lessee’s contract agency, a suitable crew-briefing room with telephone, fax and with
free of charge wired internet connection with non-blocked TCP/UDP ports for HTTP, HTTPS, SSL, VPN (L2TP), and 110V electricity supply. 24h stable internet connection (without peak bottlenecks). If no briefing
room at the airport can be provided Lessee provides one extra room at the Base hotel to be used as briefing room, no later than one day prior to to of. 

  

	i.	 Suitable shared office within the existing premises of the Lessee, with telephone, fax and with free of charge
wired internet connection with non-blocked TCP ports for HTTP, HTTPS, SSL, VPN (L2TP), 110V electricity supply. As available, l0Mpbs speed with packet loss less than 3%; usage of Smart lynx VPN router (with
DHCP WAN); provide contact information of Local IT support, no later than one day prior to 16th April, 2018. 

  
 23 

	j.	 an experienced dedicated operations liaison representative of Lessee to liaise with Lessor and operationally
assist at all stations in respect of all matters in connection with the operation of Aircraft including obtaining necessary Visas, permits. Ids and passes; 

  

	k.	 any and all customs (on parts temporarily imported by Lessor), immigration and inspection fees or charges,
including per passenger fees, overtime charges, late return fees and services charges imposed by any Government Entity unless such costs occur from incorrectly filled in customs documents by Lessor or their suppliers; 

 

	I.	 any and all taxes, fees, security charges, departure taxes and related charges which are assessed on a per
passenger basis or based on air revenue (excluding taxes based on the net income of Lessor) which are imposed by any Government Entity or airport authority, including; 

 

	m.	 screening of passengers, baggage, mail and cargo, all passenger claims, compensations and welfare costs

  

	n.	 all documentation and approvals to be obtained in relation to Flights in accordance with Agreement, including
all traffic rights, slots 

  

	o.	 insurance under the responsibility of the Lessee as provided in Agreement, including any supplements for war
risk 

  

	p.	 free of charge freight on Lessee’s flights for spares required to maintain Aircraft 

 

	q.	 marketing, sales, ticketing and check-in; 

 

	r.	 other Direct Operating Costs as follows: 

 

	 	(i)	 re-fuelling/de-fuelling
operations (including crew, operations officer and maintenance personnel to check and verify the delivered fuel quantity and quality and supply of fluid replenishment), fuels, hydraulic fluids, de-icing fluid,
lubricants and all maintenance fluids and gasses and in plane services of fuel, lubricants and other fluids, nitrogen for the operation of Aircraft including oil for hydraulic and engines 

 

	 	(ii)	 ground handling and security at all locations serviced by the Aircraft, including passenger, baggage, mail,
cargo and crew handling (including baggage mail and cargo storage, loading and unloading Aircraft) and securing Aircraft doors before take-off, and terminal and facility security in connection with Operations;

  

	 	(iii)	 provision of labor and suitable equipment at all locations serviced by the Aircraft to perform apron service
including, but not limited to, all servicing of Aircraft toilets, and fluids, marshalling, chock, ground power during transit time, de-icing, engine starting, firefighting, heating and cooling, passengers and
crew steps, water replenishment and ground to cockpit communications; 

  

	 	(iv)	 interior and exterior cleaning and serviceability of the Aircraft at the Base to accepted international airline
standards, , including replacement of missing life jackets, cleaning or replacement of seat covers and cleaning of carpets, as well as repair of and replacement of movable emergency equipment and fittings. Turnaround cleaning at the outstation to be
performed by the cabin crew. 

  

	 	(v)	 landing and all airport charges and taxes; 

 

	 	(vi)	 aircraft parking, towing and security, qualified ground crew, operations officer and maintenance personnel to
assist with Aircraft movement, push back, tugs, tow bar and qualified crew, operations officer and maintenance personnel for taxi-in and push-out procedures;

  

	 	(vii)	 over flight charges and any other route navigation charges, including Euro control, traffic rights, overfly and
other Air Traffic Control and en route navigation charges incurred by Lessor in connection with the operation of Aircraft for flights in accordance with Agreement; 

 

	 	(viii)	 intentionally blank; 

 

	 	(ix)	 customs, immigration and inspection fees related to Aircraft operations or supplies; 

  
 24 

	 	(x)	 all catering for cockpit and cabin crew with one warm meal-set and
snack as per Lessor’s OM-A, as well as soft drinks per roundtrip flight per crew member, all catering equipment and responsibility of such, also when borrowed from Lessor; 

 

	 	(xi)	 all in-flight service materials and dry goods including but not limited
to In-Flight-Entertainment content and headsets, safety-on-board cards, airsickness bags, blankets, pillows and headrest covers;

  

	 	(xii)	 intentionally blank; 

 

	 	(xiii)	 delivery and redelivery of Aircraft on a 50/50 basis; and 

 

	 	(xiv)	 any and all other reasonable direct operating cost incurred in the performance of Flights whether or not listed
above. 

 Charges for all DOCs shall be paid directly by Lessee and in those cases where such DOCs are invoiced to Lessor then Lessor will
re-invoice such to Lessee, with 1% service fee, and Lessee will pay them within two days from invoice date. 
 Made
in Malta and Made in Miami 
  

									
	For and on behalf of	 		 	For and on behalf of
			
	SMARTLYNX AlRLINES MALTA – LESSOR	 		 	Global Crossing Airlines, Inc – LESSEE
					
		 	/s/ Aleksandrs Gusevs	 		 		 	/s/ Ryan Goepel
		 	Aleksandrs Gusevs	 		 		 	Ryan Goepel
		 	Board Member	 		 		 	EVP and CFO

  
 25 

 Annex C 

Flight Schedule 
 Made in Malta and Made in Miami

  

									
	For and on behalf of	 		 	For and on behalf of
			
	SMARTLYNX AlRLINES MALTA – LESSOR	 		 	Global Crossing Airlines, Inc – LESSEE
					
		 	/s/ Aleksandrs Gusevs	 		 		 	/s/ Ryan Goepel
		 	Aleksandrs Gusevs	 		 		 	
		 	Board Member	 		 		 	

  
 26 

 AIRCRAFT ACMI LEASE AGREEMENT (“AGREEMENT” OR “ACMI LEASE”) IS MADE ON
     OF JUNE, 2020 BETWEEN 
 Global Crossing Airlines, an air carrier established under laws of United States of America, VAT number:85-0655281, whose principal office is at 4th Floor, 4200 NW 36th Street, Miami, Florida 33166,
hereinafter referred as “Lessor” or “Global X” 
 AND 

SMARTLYNX AIRLINES MALTA an air carrier established under the laws of Malta, VAT nr.: 25886226, whose principal office is at Nu Bis Centre, Trig II-Mosta, hal Lija, LJA 9012, Malta hereinafter referred as “Lessee” or “Smartlynx” 
 Both referred
to jointly as Parties 
 WHEREAS Lessor has available for wet lease two Airbus 320 airplanes (Aircraft, or when referred to individually Aircraft 1 or
Aircraft 2), both 180-seats all economy, MTOW 77t (or any Replacement Aircraft) with cover of cockpit crew, maintenance and insurance (hereinafter referred to as “Aircraft”)) 

AND WHEREAS Lessee wishes to wet lease from Lessor, and Lessor is willing to lease to Lessee, Aircraft for purpose of carrying out on behalf of Lessee certain
Flights, this in accordance with ORO.AOC.110 of EU Regulation 965/2012. 
  

	1.	 DEFINITIONS 

The following terms shall, unless the context otherwise requires, have the following respective definitions for the purposes of Agreement: 

 

	 	a.	 “Aircraft” means the following two aircraft: Airbus 320 aircraft, American registration mark, 180-seats all economy, MTOW 77t with all appliances, communications equipment, accessories and instruments installed and all flight manuals, maintenance manuals, log records and historical records. It also means any
other Lessor’s aircraft of similar seating and performance capacity, having American registration marks, as may be substituted therefore in accordance with the terms of Agreement. Lessee agrees to accept any other Airbus 320 aircraft
registration that Lessor will offer, at least 180-seats and similar performance capacity 

  

	 	b.	 “Aircraft ACMI Lease” means that the Aircraft is operated under Lessor’s AOC, under the rules
and regulations of FAA, by Lessor’s appropriately trained cockpit crew, maintained and insured by Lessor as defined further in Agreement. 

  

	 	c.	 “Approved Maintenance Organization” means a maintenance organization approved pursuant to the Maltese
Regulations. 

  

	 	d.	 “Aviation Authority” means the legal institution with the control and supervision of registration,
airworthiness or operation of civil aircraft or other matters relating to civil aviation, in United States of America. 

  

	 	e.	 “Base” is same for Aircraft 1, Aircraft 2 meaning Riga International Airport (RIX) in Latvia or any
other airport as might be advised by Lessee prior start of each Lease Term; base is the airport where Aircraft makes overnight stops and maintenance activity is carried out by Lessor. 

 

	 	f.	 “Block Hour” means each hour, or part thereof, elapsing from the moment the chocks are removed from
the wheels of an Aircraft until the chocks are returned to the wheel as recorded by captain in command in Journey Log used as accounting reference by Parties. 

 

	 	g.	 “Day” means a day, other than a Saturday or Sunday, on which banks in Malta and United States are
open for execution of transactions of Agreement; wherever reference to timing is made, that shall be UTC. 

  

	 	h.	 “Delivery Date” means delivery of the Aircraft to the Base on a date mutually acceptable to Lessor
and Lessee, which date shall, in any case, be prior to the beginning of each Lease Term. 

  

	 	i.	 “EASA” means European Aviation Safety Agency. 

  
 1 

	 	j.	 “Event of Default” means any of the events specified in Article 15. 

 

	 	k.	 “Excluded Country” means, unless Lessor has otherwise provided its consent, any country that is the
subject to an embargo, sanction, export restriction or prohibition order (or any similar order or directive) of: 

  

	 	•	 	 the United Nations Security Council; or 

 

	 	•	 	 any Governmental Entity of the European Union, the United Kingdom, the United States of America, the State of
Registration or any other country in which the Aircraft is habitually based from time to time, which, in each case, (a) is applicable to (i) Lessee or Lessor or (ii) the ownership, leasing or operation of the Aircraft and (b) has
the effect of prohibiting aviation activities to or from such country, for so long as such embargo, sanction, export restriction or prohibition order remains in effect. 

 

	 	I.	 “Excluded Person” means any Person: 

 

	 	•	 	 whose property or interests in property are blocked or subject to blocking pursuant to Section 1 of
Executive Order 13224 of September 24, 2001 Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)); 

 

	 	•	 	 on the list of “Specially Designated Nationals” and “Blocked Persons” or subject to the
limitations or prohibitions under any OFAC regulation or executive order; 

  

	 	•	 	 who is the subject of a United Nations sanction or whose assets have been frozen by enabling legislation of the
same in the State of Registration; or 

  

	 	•	 	 who is the subject of any laws similar to or consistent with the foregoing clauses (i) through (iii) as the
same are enacted in the State of Registration, 

  

	 	•	 	 in each case, as the same are amended or supplemented from time to time, and including any successor laws as the
same are enacted from time to time. 

  

	 	m.	 “Excluded Transaction” means any transaction, including with an Excluded Person, which would be
prohibited for Lessee or Lessor by reason of being: 

  

	 	•	 	 a violation of the United States Bank Secrecy Act or any applicable regulations thereunder (to the extent it is
applicable to Lessee or Lessor); 

  

	 	•	 	 contrary to any of the sanctions programs administered by OFAC, any regulations promulgated thereunder by OFAC or
under any affiliated or successor governmental or quasi-governmental office, bureau or agency, or any enabling legislation or executive order relating thereto (in each case, to the extent it is applicable to Lessee or Lessor); or

  

	 	•	 	 contrary to any laws similar to or consistent with the foregoing clauses (i) through (ii) as the same are
enacted in the State of Registration and are applicable to Lessee or Lessor, 

  

	 	•	 	 in each case, as the same are amended or supplemented from time to time, and including any successor laws as the
same are enacted from time to time. 

  

	 	n.	 “EUR” means euro. 

 

	 	o.	 “Federal Aviation Administration” or “FAA” means Aviation Authority of United States of
America. 

  

	 	p.	 “Flight Hour” means each hour or part thereof elapsed from
take-off to touchdown during a Flight made during a Lease Term. 

  

	 	q.	 “Flights” means Lessee’s flights as detailed in Flight Schedule. 

 

	 	r.	 “Flight Schedule” means the schedule for flights agreed between the Lessee and the Lessor.

  

	 	s.	 “Force Majeure” means a delay to act or failure to act due to or arising out of unforeseeable and
unavoidable circumstances that are outside of the control of either Party, such as acts of God, bird strike, lightning strike or hijacking, civil war, insurrection, riot, fire, flood, explosion, earthquake, epidemic, quarantine restriction, any act
of terrorism, any act of any government, governmental priority, allocation, regulation, order affecting necessary materials, facilities or Aircraft, strike or labor dispute causing cessation, slowdown or interruption of work (other than strikes,
disputes, slowdowns and interruptions by Lessor’s employees or employees of its subcontractors) or inability after due and timely diligence to procure equipment, data and materials from suppliers or any other cause to the extent that such cause
is beyond the control of Lessor or Lessee. 

  
 2 

	 	t.	 “Government Entity” means and includes 

 

	 	(i)	 any national government, political subdivision thereof, or local jurisdiction therein; 

 

	 	(ii)	 any official board, commission, agency, department, division, organ, instrumentality, court or agency of any
thereof, howsoever, constituted including, without limitation, the Federal Aviation Administration; and 

  

	 	(iii)	 any official organization or institution to whose jurisdiction any thereof is subject. 

 

	 	u.	 “Head Lessor” means the entity from which Lessor leases any Aircraft and Replacement Aircraft.

  

	 	v.	 “Heavy Maintenance” means any maintenance, to be carried out by an Approved Maintenance Organization
requiring the use of approved hangar facility for activities such as but not limited to: 24 month / 7500 flight hours checks or 72 month checks or complex modifications. 

 

	 	w.	 “Indemnitees” means Lessor and Head Lessor. 

 

	 	x.	 “Journey Log” means a document executed by captain in command after each Flight containing
information on such Flight, in particular Block Hours, which will be utilized by Parties for accounts and utilization measurement purposes. 

  

	 	y.	 “Lease Term” means collectively or separately Lease Term One, Lease Term Two, Lease Term Three, Lease
Term Four and Lease Term Five, Lease Term Six. Lease Term Seven and Lease Term Eight, as the context may require. 

  

	 	z.	 “Minimum Period Guarantee” is the minimum agreed utilization in Block Hours per Aircraft during each
Lease Term, measured in Block Hours, as stipulated in Article 4. 

  

	 	aa.	 “Redelivery Date” means departure date from Base at the end of each Lease Term, as detailed in
Article 5. 

  

	 	bb.	 “Rent” means the sum payable by Lessee pursuant to Article 6 and Annex A. The Lease Rate is the ACMI
price of operating one Block Hour. 

  

	 	cc.	 “Replacement Aircraft” means (a) an aircraft other than Aircraft 1 or Aircraft 2 with similar
safety and performance standards, operated by Lessor with American registration marks, equipped with substantially the same equipment with no less capacity (being 180 seats) than Aircraft 1 or Aircraft 2, as applicable, and otherwise meeting the
requirements of Article 12.1 or, if an aircraft described under (a) is not available, then (b) any other aircraft otherwise meeting the requirements of (a) and Article 12.1, provided that, any such aircraft under (a) or (b) shall
be operated in accordance with, and pursuant to, the provisions of Agreement as if references to “Aircraft” were to “Replacement Aircraft”. Lessor has the right to replace the Aircraft with a Replacement Aircraft subject to the
final approval of Lessee, which shall not be unreasonably withheld, at no additional cost to Lessee. 

  

	 	dd.	 “Traffic Documents” means the passenger tickets, baggage checks, airway bills and any other documents
required under any applicable law and convention in relation to any passenger, cargo or mail which may be carried on Aircraft. 

  

	 	ee.	 “Total Loss” means the loss or destruction or damage to Aircraft such that a determination by the
insurers or Head Lessor is made under the policy of hull insurance that repair would be impractical, or any seizure or requisition for use of title or confiscation of Aircraft. 

 

	 	ff.	 The word “person” or “persons” or to words importing persons include, without limitation,
individuals, firms, partnerships, joint ventures, trust, Government Entities, organizations, associations, corporations, government agencies, committees, departments, authorities and other bodies, corporate or incorporate, whether having legal
distinct personality or not, or any member of the same. 

  

	 	gg.	 “USD” means United States dollar. 

 

	 	hh.	 “Lessor”, “Lessee” or “Indemnitees” mean and include their respective directors,
officers, servants, agents, employees and sub-contractors. 

  
 3 

	 	ii.	 Words in the plural shall imply singular and vice versa; reference to an article in the Agreement shall imply
reference to all sub-clauses in the Agreement. 

  

	 	jj.	 Any agreement or instrument shall include such agreement or instruments as it may from time to time be amended,
supplemented or substituted. 

  

	 	kk.	 Headings in the Agreement are for ease of reference only and shall not affect the construction or
interpretation of Agreement. 

  

	2.	 LEASE OF AIRCRAFT 

  

	 	2.1.	 Lessor agrees to lease the Aircraft to Lessee and Lessee agrees to take the Aircraft on lease from Lessor for
the length of the Lease Term upon the terms and subject to the conditions of Agreement. 

  

	 	2.2.	 During the Lease Term, each Aircraft shall have a passenger configuration of no less than 180 seats and shall
be operated on the Flight Schedule, as may be amended from time to time upon mutual agreement of Lessor and Lessee, always in accordance with clause 14.2. 

  

	 	2.3.	 Agreement to lease extends to any Replacement Aircraft provided due to maintenance, operational or other
reasons. 

  

	3.	 CONDITIONS PRECEDENT 

 

	 	3.1.	 Lessor’s obligations to deliver Aircraft prior to each Lease Term and to operate Aircraft during each
Lease Term shall be subject to and conditional upon Lessor having received: 

  

	 	a.	 All prepayments and deposit and rent in accordance with Annex A to Agreement; 

 

	 	b.	 Evidence satisfactory to Lessor that Lessee has or will have, prior to each Lease Term, the necessary
permissions, consents, licenses and approvals from the relevant Government Entities for the operation of Flights by the Aircraft, in particular, a valid air operator certificate; 

 

	 	c.	 Lessee’s certificate of insurance, and required co-insurance
certificates; 

  

	 	d.	 Assurances satisfactory to Lessor, acting reasonably, prior to each Lease Term, that Lessee is able to provide
support to Lessor as stipulated in this Agreement; and 

  

	 	e.	 a copy of Lessee’s constitutional documents, certified by a member of Lessee’s management board as
being true, correct and up-to-date and as containing all amendments, together with an incumbency certificate as to the Person or Persons authorized to execute and
deliver such documents on behalf of Lessee; a copy of the corporate resolutions of Lessee, certified by a member of Lessee’s management board as being true, correct and
up-to-date and as containing all amendments, evidencing due approval and authority of Lessee for the execution, delivery and performance of this Lease and all other
documents related thereto; and 

  

	 	f.	 ACMI lease agreement between Smartlynx as lessor and Global X as lessee in relation to wet lease of A320
Aircraft (hereinafter referred to as “Lease 2”) fully executed by both Parties. 

  

	 	3.2.	 Lessor’s obligations to deliver Aircraft prior to each Lease Term are further conditional upon:

  

	 	a.	 No Lessee Event of Default having occurred as at or prior to each Lease Term; 

 

	 	b.	 No event which with the passage of time would constitute an Event of Default shall have occurred as at or prior
to the beginning of such Lease Term; 

  

	 	c.	 The representations and warranties of Lessee being true and correct; and 

 

	 	d.	 Lessor’s Aviation Authority consent to lease of the Aircraft; and 

 

	 	e.	 Lease 2 is in full force and effect, no termination notices regarding Lease 2 have been submitted by Smartlynx
and Smartlynx fulfils its obligations under Lease 2 in timely manner. 

  
 4 

	 	3.3.	 Lessee’s obligations to lease the Aircraft during each Lease Term are conditional upon Lessee having
received: 

  

	 	a.	 Lessor’s AOC and AOC related documents, certificate of insurance, and required co-insurance certificates; and 

  

	 	b.	 Satisfactory FAA approved Audit of Lessors organization and Aircraft inspection by Lessee, if applicable.

  

	 	3.4.	 Lessee’s obligations to lease Aircraft during each Lease Term are further conditional upon:

  

	 	a.	 No Lessor Event of Default having occurred as at or prior to such Lease Term; 

 

	 	b.	 No event which with the passage of time would constitute an Event of Default shall have occurred as at or prior
to such Lease Term. 

  

	 	c.	 The Maltese CAA consent to the lease of the Aircraft by the Lessee. 

 

	 	d.	 The representations and warranties of Lessor being true and correct. 

 

	 	3.5.	 Parties agree that all conditions precedent, unless waived, need to be met by 01st of April 2021 (or 01st of April of the year of each subsequent Lease Term) except where explicitly mentioned otherwise, and are considered met unless one Party at 1st of April 2021 (or 1st of April of the year of each
subsequent Lease Term) at the latest notifies the other in writing that said conditions have not been met. Failing to meet the conditions, unless a further extension is agreed in writing to meet the conditions precedent, shall provide the party in
whose favour the unsatisfied condition precedent is in to either terminate this Agreement or provide an irrevocable waiver of such condition. 

  

	4.	 LEASE TERM. Minimum Period Guarantee 

 

	 	4.1.	 Lease Term for Aircraft: 

Lease Term One: From 1st of May 2021 till 15th of September 2021; 

Lease Term Two: From 1st of May 2022 till 15th of September 2022; 

Lease Term Three: From 1st of May 2023 till 15th of September 2023; 

Lease Term Four: From 1st of May 2024 till 15th of September 2024; 

Lease Term Five: From 1st of May 2025 till 15th of September 2025; 

Lease Term Six: From 1st of May 2026 till 15th of September 2026; 

Lease Term Seven: From 1st of May 2027 till 15th of September 2027; 

Lease Term Eight: From 1st of May 2028 till 15th of September 2028; 
  

	 	4.2.	 Minimum Period Guarantee for Aircraft-1 in amount of 200 Block Hours
per each calendar month during Lease Term One, and 1000 Block Hours in total per Aircraft-1 per Lease Term One, and 200 Block Hours per each of Aircraft-1 and Aircraft-2 per each calendar month during each Lease Term, starting Lease Term Two, and 1000 Block Hours in total per each of Aircraft-1 and
Aircraft-2 per each Lease Term, starting Lease Term Two. In addition, in Lease Term One, Lessee may shift up for 35% of Block Hours of the Minimum Monthly Guarantee per Aircraft from one month to another
provided that in the aggregate over the Lease Term the Minimum Period Guarantee is met. 

  

	 	4.3.	 All details regarding Aircraft delivery and redelivery are reflected in Section 5.1 and Annex A, article
1.6. 

  

	 	4.4.	 Early termination of Agreement. If Lessee terminates Agreement before or during any Lease Term (except for
termination in accordance with Article 3.5, 4.5, 15.4 or 16.2), as specified in Article 4.1 above, Lessee shall immediately pay Lessor for all remaining Block hours to and including the Minimum Period Guarantee not flown in each Lease Term. For
instance, if Lessee terminates Agreement after Lease Term One, Lessee shall immediately pay to Lessor for all 2000 Block hours not flown in Lease Term Two, for all 2000 Block hours not flown in Lease Term Three, for all 2000 Block hours not flown in
Lease Term Four, for all 2000 Block hours not flown in Lease Term Five, for all 2000 Block hours not flown in Lease Term Six, for all 2000 Block hours not flown in Lease Term Seven and for all 2000 Block hours not flown in Lease Term Eight, in
accordance with agreed Block hour rates for FH:FC ratio of 3:1 indicated in Annex A, article 1.1 

 In case of such early
termination by Smartlynx, Global X has a right to immediately unilaterally terminate Lease 2 by giving a written notice to Smartlynx. In such case, Smartlynx will immediately return to Global X all the Security Deposit amounts paid for next lease
terms under Lease 2. 

  
 5 

	 	4.5.	 Lessee has a right to terminate the Lease Term One of this ACMI Lease agreement due to reasons, limited to:
failing to obtain AOC, continuous repeated outbreak of COVID-19 virus after the signature of this Agreement and its implications on the aviation industry, causing overall aviation market decrease below 50% of
the figures of 2019, by giving a written notice to Lessor not later than 1st of March, 2021. In such case Lessor will immediately return to Lessee the Security Deposit amount paid for Lease Term
One, in amount of USD 200 000. 

 For avoidance of doubt, such termination is option only applicable in relation
to Lease Term One, all the other Lease Terms for both Aircraft-1 and Aircraft-2 are to remain in full force and effect as per terms and conditions of this ACMI
Agreement, including for the avoidance of doubt, the applicable Security Deposit payments, and in case of any further Lease Terms are terminated by Lessee, clause 4.4 will be in force. 

 

	5.	 DELIVERY. REDELIVERY. 

 

	 	5.1.	 Aircraft is delivered and redelivered to and from Base on Lessor’s flight numbers. Costs of delivery and
redelivery (which shall include fuel, taxes, navigation, flight crew and other Direct Operating Costs) shall be split equally between Lessee and Lessor 50/50, stipulated in Annex B to Agreement. Parties can agree on the fixed cost per each of
delivery and redelivery and Lessee shall pay their 50% amount to Lessor prior the flight performed. 

  

	 	5.2.	 At delivery and redelivery, Lessor shall ensure that Aircraft are clean and serviceable by international
commercial airline standards, compliant with EU regulation No 965/2012, subpart D and applicable law and airworthy with all equipment fully functional and operating within limits established by manufacturer. The Aircraft will be delivered without
any defects and without any Heavy Maintenance tasks scheduled during any Lease Term. 

  

	 	5.3.	 Lessor might apply Lessee’s decals on exterior of Aircraft prior to delivery at Lessee’s cost,
subject to timely notice from the Lessee and relevant work orders issued from Lessor and approved by Lessee. Such logos and signs shall be removed prior redelivery, at Lessee’s cost. Application of livery is charged separately (paperwork,
material, labour). Aircraft shall be redelivered to the Lessor in all-white livery. 

  

	 	5.4.	 Delivery and redelivery are subject to execution of acceptance certificate by Lessee with regards to galley and
cabin equipment delivered and redelivered with the Aircraft. 

  

	 	5.5.	 In case any special modifications are needed to be done on Aircraft, based on special FAA and/or EASA
regulations, such will be installed and organized by Lessor on Lessee’s cost prior starting of operations in Base. 

  

	6.	 PAYMENT OF RENT 

  

	 	6.1.	 All details regarding rent payments are stipulated in Annex A to Agreement, which is an inherent and
confidential part of Agreement. 

  

	7.	 TAXATION 

  

	 	7.1.	 Subject to Article 7.2, all payments to Lessor are clear of all taxes and duties, Taxes incurred by Lessee or
Lessor in connection with the use and/or possession of Aircraft by Lessee shall be borne by Lessee, excluding any taxes based on the income of Lessor. 

  

	 	7.2.	 All amounts payable by Lessee under this Agreement are exclusive of any sales tax, use tax, value added tax,
turnover tax, goods and services tax or any similar imposition or levy (collectively, “Sales Taxes”). Similarly, all amounts payable by Lessor under this Agreement are exclusive of any Sales Taxes. If either Lessor or Lessee is required by
law to collect Sales Taxes from the other in respect of the supply of any property or service pursuant to this Agreement, then Lessor or Lessee, as applicable, shall be entitled to collect such Sales Taxes from the other concurrently with the
payment of the consideration upon which such Sales Taxes are calculated, or at any other time mutually agreed to by Lessor and Lessee. Where Lessor or Lessee collects such Sales Taxes from the other, Lessor or Lessee, as applicable, shall provide
the other with the necessary documentation for any available tax credits, rebates or refunds to be claimed in respect of such Sales Taxes. 

  

	8.	 DEPOSIT 

  

	 	8.1.	 All details regarding Deposit are stipulated in Annex A to Agreement, which is an inherent and confidential
part of Agreement. 

  
 6 

	9.	 COMMERCIAL CONTROL 

  

	 	9.1.	 Commercial control of the Aircraft during the Lease Term shall be vested in Lessee. Lessee shall, subject to
operational and technical considerations, be entitled to cancel, delay or re-route a Flight for commercial reasons. For avoidance of doubt, Lessor’s crew is not obligated to operate Aircraft into airports
where they deem facilities insufficient for proper servicing of the Aircraft, Lessor in this case being indemnified for loss of revenue. 

  

	 	9.2.	 Notwithstanding the provisions of Article 9.1 or any other provision to the contrary, Lessee will not use the
Aircraft in any manner contrary to any recommendation of the manufacturers of the Aircraft, any engine or any part or any recommendation or regulation of the Aviation Authority or for any purpose for which the Aircraft is not designed or reasonably
suitable. Lessee will use the Aircraft solely in commercial or other operations for which Lessee is duly authorised by the Aviation Authority and the Applicable Law. Lessee will not: (i) use the Aircraft for the carriage of any item or
substance whose possession or carriage is illegal under any Applicable Law; or (ii) (A) permit the Aircraft to proceed to, or remain at, any location in an Excluded Country without prior written approval of the Lessor, its insurer and Head
Lessor, (B) use the Aircraft, or permit the Aircraft to be used, to engage in an Excluded Transaction or (C) use or permit the use of the Aircraft for or on behalf of any Excluded Person. 

 

	 	9.3.	 All revenue derived from the operation of Flights (including but not limited to passenger, cargo, excess
baggage, duty free sales etc.) is for the sole account of Lessee. 

  

	 	9.4.	 Revenue and cost of in-flight sales is the responsibility of, and for
the sole account of, Lessee, however any cabin crew that Lessor may be providing to Lessee shall benefit from any cabin crew incentive program that Lessee may be running on their in-flight shop equally to any
cabin crew of Lessee, if applicable. 

  

	 	9.5.	 Lessor, may swap Aircraft with a Replacement Aircraft, provided there is no disturbance or delay on Flights.
Such swap cannot be cause for loss of Lessor’s revenue or reduction of Minimum Period Guarantee unless the delay in receipt of the Replacement Aircraft makes it commercially unreasonable for Lessee to meet the applicable Minimum Period
Guarantee. It is Lessee’s obligation to validate with the Maltese CAA respective Replacement Aircraft from Lessor’s fleet to be able to operate for Lessee. It is Lessors obligation to assume all extra cost related to delivery, redelivery
and operation of Replacement Aircraft. 

  

	10.	 OPERATIONAL CONTROL 

  

	 	10.1.	 Lessor is responsible for the operation of the Aircraft and the safe performance of Flights and shall retain
full operational control and possession of the Aircraft to enable it to do so. In particular, the captain of the Aircraft shall for the purpose of a safe performance of Flights have absolute discretion in all matters concerning flight operation,
preparation of the Aircraft for a Flight, the load carried and its distribution. Parties hereby agree that the Aircraft shall at all times during each Lease Term remain in the possession and under the operational control of Lessor and that Lessee
shall have no rights in the Aircraft other than those expressly granted in this Agreement. 

  

	 	10.2.	 The operation of the Aircraft shall be carried out in accordance with the standards and practices of Lessor as
set out in Lessor’s flight operations manual, in accordance with the FAA and EASA rules and regulations. 

  

	 	10.3.	 Lessor shall maintain all logs and records pertaining to the Aircraft in accordance with the rules and
regulations of the Aviation Authority. Copies of the Aircraft Journey Log shall be made available to Lessee upon each return to Base by an Aircraft. 

  

	 	10.4.	 Subject to Article 14, it shall be the responsibility of Lessor to prepare and file all documents and reports
with any Government Entity whatsoever concerning the operation of Flights hereunder, except for obtaining traffic rights and flight permissions. These files and reports will be provided to Lessee upon request. 

 

	 	10.5.	 Flights will be operated under Lessee’s designated flight numbers. 

 

	 	10.6.	 Flights will be operated under Lessee’s call sign. 

 

	 	10.7.	 Arrival/departure and related messages relating to Flights performed in accordance with the Agreement shall be
sent to the appropriate departments of Lessor and Lessee. 

  
 7 

	 	10.8.	 If during any Lease Term the necessity for Heavy Maintenance arises, Lessor shall provide a Replacement
Aircraft at no extra cost to Lessee. If any ferry flights are required for the performance of any maintenance, the costs of such ferry flights are borne by Lessor. Lessor confirms no Heavy Maintenance tasks are planned, or will be planned, on any
Aircraft during any Lease Term. 

  

	 	10.9.	 Lessee will provide all necessary assistance to Lessor and will be responsible to obtain (to the extent it is
legally permitted to do so) all necessary documents including but not limited to multiple entry visas, working visas, airside passes, certificates required in connection with the operation of Aircraft, all at Lessee’s costs. Lessor’s
revenue will not be dependent on Lessee’s ability or inability to obtain traffic rights on routes they intend to operate, access passes to facilities permitting maintenance of the Aircraft and similar. 

 

	 	10.10.	 All Traffic Documents related to the passengers, freight and mail will be passed on to Lessee and Lessee will
be responsible for the traffic accounting of Flights. 

  

	 	10.11.	 Lessor shall forward to Lessee on a daily basis such operational information as is reasonably requested by
Lessee. 

  

	 	10.12.	 Operation and maintenance surveillance of Aircraft during the entire and each Lease Term shall remain under the
full authority of the Aviation Authority. Lessee shall enable Aviation Authority inspectors’ access to the Aircraft and to the Base in order to carry out operational and maintenance inspection. Reciprocally, Lessor shall allow Aviation
Authority and Malta CAA inspectors to inspect the Aircraft and review its maintenance procedures. Parties are entitled to audit each other’s operation. 

  

	 	10.13.	 Lessor is not liable for any violation of slots or for payment of any fines or penalties imposed by the
relevant authorities for such violation of allocated slots due to commercial and planning reasons beyond Lessor’s control. Lessee fully indemnifies Lessor of any fines or penalties accrued so, unless any fines or penalties are a result of
negligence or wilful misconduct by Lessor or the directors, officer, servants, agents, employees or sub-contractors of Lessor. 

 

	 	10.14.	 Lessee guarantees that all Lessor’s applicable manuals (such as GOM, DIM etc.) received will be
distributed to Lessee’s handlers and service providers. Lessor’s manuals shall not be disclosed to any other person during or after any Lease Term. Lessee guarantees that all copies of manuals shall be destroyed at the end of Lease Term
Eight or in any case after termination of the ACMI Lease Agreement. 

  

	 	10.15.	 Lessor has no right to subcontract the operation of Flights to third parties. Flights shall be operated within
the authorization specified in Lessor’s AOC. 

  

	 	10.16.	 Flights will be operated within the authorizations specified in the Lessor’s AOC in accordance with the
rules and regulations of FAA, and the procedures of Lessor. 

  

	11.	 FLIGHT CREW. MAINTENANCE PERSONNEL. 

 

	 	11.1.	 During each Lease Term, Lessor shall provide and bear the cost of up to 5 sets of cockpit crew per Aircraft 1
and Aircraft 2, or per each Aircraft. Crews shall hold current type-rating from the Aviation Authority to operate the Aircraft. Lessor shall offer additional cockpit crew sets at cost as advised in Annex A. The final number of cockpit crew per
Aircraft shall be determined prior to the commencement of each Lease Term and pricing adjusted as set out in Annex A. 

  

	 	11.2.	 It is the intention of the Parties that Lessee supplies qualified cabin crew for training by Lessor to be able
to operate on the Aircraft of Lessor. Alternatively, Parties might evaluate a possibility that Lessee may provide a crew trainer to be trained by Lessor in Malta and then such crew trainer would be responsible for providing training to the rest of
Lessee’s cabin crew. Lessee agrees that all commercial responsibility (hiring, remuneration, payment of training) with regards to such cabin crew remain with Lessee, whereas operationally they account to Lessor and operate as per Lessor’s
procedures. Lessee in event where cabin crew supplied by them operate on the Aircraft, are obliged to provide all past and all future planned rosters of the cabin crew. Lessor is accountable and has authority on operational legality of such cabin
crew. All commercial details with regards to training of such cabin crew are laid out in Annex A. 

  

  
 8 

	 	11.3.	 During each Lease Term, Lessor shall provide and bear the cost of sufficient number of certified maintenance
staff required for the operation of the Aircraft at Base. Lessor has right to subcontract an external maintenance provider however Lessor shall always have as an option setting up their line maintenance station, with support of Lessee.

  

	 	11.4.	 If an external maintenance provider is contracted to maintain Aircraft, Lessor has the right to designate a
maintenance coordinator to coordinate the maintenance services at the Base. In this case, all support which as per Agreement needs to be provided for Lessor’s maintenance staff, will be provided for the maintenance coordinator as reasonable.

  

	 	11.5.	 To facilitate the operation, Lessor has the right, to designate a maintenance coordinator to be based at the
Base for each Lease Term. In this case, all support which as per the Agreement needs to be provided for Lessor’s crew will be provided for the maintenance coordinator as reasonable. 

 

	 	11.6.	 Parties agree that the Aircraft will return to the Base, in principle all evenings to allow for a single base
maintenance station. 

  

	12.	 LESSOR’S RESPONSIBILITIES. UNSERVICEABILITY 

Lessor during each Lease Term at its own cost (unless otherwise stated) shall: 
  

	 	12.1.	 Ensure that each Aircraft: 

 

	 	a.	 is serviceable and equipped for commercial airline operations; 

 

	 	b.	 has a valid and current Certificate of Airworthiness and a valid Aircraft Operating Certificate;

  

	 	c.	 is delivered clean and defect free by international standards and ready for commercial services; and

  

	 	d.	 has onboard, prior to each Flight, the official documents for the operation of the Aircraft and the carriage of
passengers, baggage, cargo and mail on Flights; 

  

	 	12.2.	 Provide sets of cockpit crew as stated in Article 11 and aircraft maintenance engineers as well as ensure that
Aircraft is maintained and operated in accordance with the requirements of the Aviation Authority in accordance with Lessor’s approved maintenance program; 

 

	 	12.3.	 Will place at the Base sufficient, well trained maintenance personnel, as well as sufficient spare parts, tools
and maintenance equipment, updated maintenance documentation as per standard industry practice. 

  

	 	12.4.	 Procure and maintain insurance as set out in Article 19; 

 

	 	12.5.	 Grant access on board the Aircraft to Lessee’s personnel and Maltese CAA inspectors whilst performing
their official duties; 

  

	 	12.6.	 Be responsible for all scheduled and unscheduled maintenance including
pre-flight and technical transit checks and maintenance related procedures; 

  

	 	12.7.	 Rent to Lessee two sets of Atlas galley equipment per aircraft or any other amount as agreed between parties,
the cost of which will be included in the Rent. Lessee then is liable for return of the equipment in the state it was received, subject to normal wear and tear, failing to do so incurring penalty of USD 125 for lost or damaged container, USD550 for
lost or damaged full-size trolley, USD450 for lost or damaged half size trolley. Signature of acceptance certificate is necessary when accepting catering equipment. 

 

	 	12.8.	 Be responsible for flight plans, load sheets and technical sign offs. 

 

	 	12.9.	 If the expected unavailability of an Aircraft for a planned Flight of Lessee is more than 2,5 hours after its
original scheduled departure time, as determined by Lessor’s AOG status message, then Lessee has the right to cancel the affected Flight, and its return sector, from Lessor’s Flight program and deduct the cancelled Block Hours from the
Minimum Period Guarantee of the applicable Lease Term. Should Lessor not operate a Flight in accordance with the agreed Flight Program due to unscheduled maintenance, unserviceability, crew shortage for planned flights or for any other reason within
the responsibility of Lessor, then in any event the Lessee will be refunded for Block Hours not flown and the Minimum Period Guarantee of the applicable Lease Term will be reduced accordingly. Such credit will be reconciled at the end of each Lease
Term. 

  
 9 

	 	12.10.	 For the avoidance of doubt, as per Annex B, subclause s) ix, organization and expenses of any customs-related
activities is Lessor’s responsibility, and non-performance thereof cannot be the reason for Lessor’s loss of revenue or Minimum Period Guarantee reduction. Any custom related activity in relation to
maintenance of Aircraft falls under Lessor’s responsibility. 

  

	 	12.11.	 In case the Aircraft is unserviceable for longer than 2,5 hours hours, and Lessor has not supplied a
Replacement Aircraft, then Lessee has the right to operate the Flight(s) on its own accord or lease a third-party aircraft, in which case Lessor will compensate for difference in wet lease rates and difference in direct operating cost for initially
scheduled and planned flights. Lessee’s and Lessor’s wet lease rates are considered similar. For avoidance of doubt, such rate difference shall not be higher than USD 2000 per Block Hour. In any case, Lessor agrees to advise to Lessee
earliest possible the most precise back in service time. 

  

	 	12.12.	 Lessor shall ensure that all services and carriage hereunder shall be in accordance with the regulations of
FAA, the International Civil Aviation Organization (ICAO) and all other applicable international and government regulations. 

  

	13.	 LESSEE’S RESPONSIBILITIES 

Lessee during each Lease Term at its own cost (unless otherwise stated) shall: 
  

	 	13.1.	 Be responsible and provide for support during each Lease Term to Lessor stipulated in Annex A and Annex B as
well as wherever reference to such support is made; 

  

	 	13.2.	 Provide all support from Lessee to Lessor as of arrival of preparation team, up and until the Redelivery Date.;

  

	 	13.3.	 Ensure and grant the right to Lessor to perform audits and inspections of Lessee and Lessee’s contractors;

  

	 	13.4.	 Provide to Lessor at the end of each Lease Term a proof of overflight payment execution for all Flights flown
on Lessors Aircraft; 

  

	 	13.5.	 Should Lessee be unable to provide any of aforementioned support, then Lessor will fully recharge all cost
accrued to Lessee and the latter will pay that within three days from invoice date, provided relevant supporting documentation is provided by Lessor; 

  

	 	13.6.	 Pay on time in accordance with payment schedule herein. 

 

	 	13.7.	 Provide all and any customer welfare, reprotection, support and compensation, and fully indemnify Lessor
against any such claims including any compensations and/or assistance to passengers under Regulation (EC) No 261/2004 of the European Parliament and of the Council of 11 February 2004 establishing common rules on compensation and assistance to
passengers in the event of denied boarding and of cancellation or long delay of flights, and repealing Regulation (EEC) No 295/91 (hereinafter - “Regulation (EC) No 261/2004”); Montreal convention or Warsaw convention;. unless in case the
cause for such welfare, reprotection, support and compensation are due to gross negligence or the wilful misconduct on behalf of the Lessor. 

  

	 	13.8.	 Provided that it does not interfere with Lessee’s quiet use, possession and enjoyment of the Aircraft in
accordance with the terms of this Agreement, grant full right to inspect, audit and oversight to Lessor. 

  

	 	13.9.	 Lease Aircraft after signature of Agreement, unless Lessor fails to meet conditions precedent.

  

	 	13.10.	 Not to transport deportees or ACC3 status cargo or mail without Lessor prior written consent.

  
 10 

	14.	 TRAFFIC DOCUMENTS AND SCHEDULE CHANGES 

 

	 	14.1.	 The Flight Schedule shall be agreed between parties no later than 90 days prior to the commencement of each
Lease Term. 

  

	 	14.2.	 Parties agree that changes to a Flight that will be binding on Lessor can be sent to Lessor no later than 48
hours prior to Flight, however Lessor shall use reasonable endeavours to facilitate any Flight Schedule changes subject to crew duty limitations and already scheduled maintenance tasks. Same applies to Lessor advising of need for slots for scheduled
maintenance, subject to Aircraft not pre-booked for executing some Flights. Change of destination is not subject to this advance notice. 

 

	 	14.3.	 Lessee’s conditions of carriage issued to passengers by Lessee regulate carriage of passengers.

  

	 	14.4.	 Lessee is fully responsible for checking passengers for all travel documents as well as for accomplishing
immigration and customs clearance of passengers, baggage, cargo and mail. Lessee shall be liable for all penalties levied as a result of illegal transportation of Lessee’s employees and passengers and their property on the Aircraft.

  

	 	14.5.	 Lessee confirms awareness that Lessor will only provide navigation data base for destinations of the Flight
Schedule or indicated prior to commencement of each Lease Term. Any off-cycle navigation data base update shall be on Lessee’s cost at USD5,500 per off-cycle
update. 

  

	15.	 EVENTS OF DEFAULT 

  

	 	15.1.	 Each of the following events shall be a Lessee Event of Default: 

 

	 	a.	 If Lessee fails to pay when due, any amount due and payable by it hereunder and in respect of Rent and pay and
if such failure remains unremedied for a period of two (2) days after receipt of written notice from Lessor, and in respect of any other amount payable hereunder if such failure remains unremedied for a period of three (3) days after
receipt of written notice from Lessor; or 

  

	 	b.	 If Lessee shall at any time fail to observe or perform any of its other obligations in accordance with
Agreement and such failure, if capable of remedy, is not remedied within three (3) days of receipt by Lessee of notice from Lessor requiring remedial action; or 

 

	 	c.	 If insurance agreed in Agreement is invalidated for any reason attributable to Lessee; or

  

	 	d.	 If any representation or warranty of Lessee of Agreement shall be untrue, inaccurate or misleading in any
material respect when made; or 

  

	 	e.	 If a supervisor, receiver, administrator, or other encumbrancer takes possession of or is appointed over, or
any distress, execution or other process being levied or enforced (and not being discharged within thirty (30) days) upon all or substantially all of the assets of Lessee and in each case, is such as materially adversely affect the ability of
Lessee to perform its obligations hereunder; or 

  

	 	f.	 If Lessee fails to take Aircraft on lease once all conditions precedent have been satisfied or waived on the
dates agreed in this Agreement. 

  

	 	g.	 If Smartlynx Event of Default has occurred under Lease 2. 

 

	 	15.2.	 The occurrence of a Lessee Event of Default as specified in Article 15.1 permits Lessor to either immediately
temporarily halt operation of Aircraft or with two (2) days advance written notice to Lessee terminate this Agreement with immediate effect, in which case Article 4.4 shall apply. 

 

	 	15.3.	 Each of the following events shall be a Lessor Event of Default: 

 

	 	a.	 If the Lessor shall at any time fail to observe or perform any of its obligations in accordance with the
Agreement and such failure, if capable of remedy, is not remedied within three (3) days of receipt by Lessor of notice from Lessee requiring remedial action; or 

 

	 	b.	 If a supervisor, receiver, administrator, or other encumbrancer takes possession of or is appointed over, or
any distress, execution or other process being levied or enforced (and not being discharged within thirty (30) days) upon the whole or any substantial part of the assets of Lessor and in each case, is such as shall materially adversely affect
the ability of Lessor to perform its obligations hereunder; or 

  
 11 

	 	c.	 If insurance agreed in Agreement is invalidated for any reason attributable to Lessor; or

  

	 	d.	 If any representation or warranty of Lessor contained in Agreement or in any document or certificate furnished
by Lessor to Lessee in connection with Agreement shall be untrue, inaccurate or misleading in any material respect when made; or 

  

	 	e.	 If Lessor shall fail to deliver the Aircraft or Replacement Aircraft (other than for reasons of Force Majeure
or Total Loss) on any Delivery Date; 

  

	 	f.	 If Lessor ceases to be a commercial air carrier hence failing to perform the services; or

  

	 	g.	 If Lessor exercises its termination rights as set out in the Subscription Receipt Indenture.

  

	 	15.4.	 The occurrence of a Lessor Event of Default as specified in Article 15.3 permits Lessee by two (2) days
advance written notice to Lessor terminate this Agreement with immediate effect. Notwithstanding, such termination does not acquit Lessee from fulfilling all accrued liabilities up to the effective date of termination. 

 

	16.	 FORCE MAJEURE 

  

	 	16.1.	 Lessor or Lessee shall not be liable for any failure or delay in the performance of any obligations in
accordance with this Agreement due to a Force Majeure at the Base of Lessee or any destination operated by Lessee. 

  

	 	16.2.	 In the event of a Force Majeure situation continuing for a period of seven (7) days or longer (during
which time the Parties shall use their best efforts to alleviate the effects of the Force Majeure situation), either Party will be free immediately to terminate the Agreement by notice in writing to the other, provided always that any such
termination shall be without prejudice to any obligations accrued at the date of termination and to any continuing obligations in accordance with Agreement. During Force Majeure, Minimum Period Guarantee of respective Lease Term shall be reduced
accordingly. 

  

	 	16.3.	 At the time of concluding this Agreement, the Parties are fully aware of the situation related to the spread of
the COVID-19 virus and the measures taken to limit it, including orders and acts issued by their governments. Parties confirm that their commitments included in this Agreement are made fully considering the
situation related to the spread of the COVID-19 virus, which has already occurred and is existing at the time of concluding this Agreement. The Party whose obligation is not possible due to force majeure
circumstances related to this situation shall submit to the other Party a statement from the competent authority regarding the occurrence of such circumstances and the direct impact on the fulfillment of the obligations of the Agreement.

  

	17.	 DAMAGE, DESTRUCTION OF AIRCRAFT. EMERGENCY RESPONSE (ERP) 

 

	 	17.1.	 Throughout the Lease Term, risk of loss or damage to Aircraft shall be the sole risk of Lessor.

  

	 	17.2.	 In the event that Aircraft shall have suffered a Total Loss during any Lease Term, then the leasing of the
Aircraft suffering Total Loss in accordance with the Agreement shall be cancelled and terminated as of the date and Lessor shall return the Deposit as well as all prepayments for paid but unflown flights to Lessee. 

 

	 	17.3.	 The Parties shall exchange emergency response programs (ERP) prior to the commencement of each Lease Term.

  

	 	17.4.	 In an emergency situation the ERP of Lessee as approved by Lessor, will serve as guideline for action and
communication regarding passenger welfare. Similarly, Lessor’s ERP will serve as guideline for action and communication regarding crew welfare, and Aircraft recovery. 

 

	 	17.5.	 Lessee commits to inform all of its relevant suppliers (ground handlers and similar) that some of Lessee’s
flights will be operated using the Aircraft. All contacts in clause 17.8. below will be provided to Lessee’s suppliers. 

  

	 	17.6.	 If Lessee is advised by one of its suppliers that an emergency situation has occurred, Lessee shall immediately
informs Lessor at the contacts set forth in clause 17.8. 

  

	 	17.7.	 Parties indicate following ERP contact for Lessee: occ@smartlynx.aero and erc@smartlynx.aero

  

	 	17.8.	 Parties indicate following ERP contact for Lessor: 4th
Floor, 4200 NW 36th Street, Miami, Fl 33166. 

  

  
 12 

	 	17.9.	 Should Lessor, acting reasonably, deem Lessee’s ERP insufficient, then Lessor shall advise Lessee, setting
forth the deficiencies in Lessee’s ERP. Until Lessee rectifies such deficiencies, Lessor’s procedures will serve as guideline for action and communication regarding passenger welfare, all cost borne by Lessee. 

 

	 	17.10.	 Parties agree to coordinate the release of any information to the media. Lessee agrees not to release any
information regarding an emergency situation to the media prior receipt of official information from Lessor, provided that Lessee shall be permitted to make such disclosures as are required by law, regulation or stock exchange rule. Information is
considered official if sent from following email addresses: ryan.goepel@globalairlinesgroup.com or other as may be suggested from time to time. 

  

	18.	 LIABILITY AND INDEMNITY 

 

	 	18.1.	 Lessor shall indemnify, defend and hold harmless Lessee from and against all costs, claims, demands, suits,
judgments and causes of action of or brought by any third party (other than intentional harmful actions of passengers or owners of cargo carried on Aircraft) on account of injury or death or for loss of or damage to property (including Aircraft
itself) arising out of the operation and/or maintenance of Aircraft, other than as may arise out of the gross negligence or willful misconduct of Lessee, its directors, officers, servants, employees and agents 

 

	 	18.2.	 Lessee shall indemnify, defend and hold harmless Lessor, Head Lessor from and against all costs, claims,
demands and causes of action brought by any passengers or owners of cargo carried on Aircraft on account of injury or death or for loss of or damage to property (other than Aircraft itself) arising out of the operation and/or maintenance of
Aircraft, other than as may arise out of the gross negligence or wilful misconduct of Lessor, its directors, officers, servants, employees and agents. 

  

	 	18.3.	 Each Party shall assume responsibility for death of or injury to or sickness or loss or damage to property of
its own employees (including employees provided by one Party to the other in accordance with Agreement) and shall indemnify, defend and hold harmless the other in respect thereof, unless caused by the gross negligence or willful misconduct of the
other Party. 

  

	 	18.4.	 Lessee shall, subject to the Warsaw Convention, Montreal Convention, Regulation (EC) No 261/2004 or any other
regulation, as applicable, and subject to the terms of Agreement be liable for any delay, injury or death suffered, incurred or in respect of any passenger or any other person carried or to be carried on Aircraft or any loss, damage, destruction or
delay of or to any cargo, baggage, personal effects or mail carried or to be carried by Aircraft and caused by an occurrence arising out of or incidental to the possession, use, maintenance or operation of Aircraft in accordance with Agreement and
Lessee shall indemnify and hold Lessor, Head Lessor, Owner and Indemnities harmless in respect of all liability, costs, claims, demands, suits, judgments or actions including all costs and expenses of any defense unless caused by willful misconduct
or gross negligence of Lessor. 

  

	 	18.5.	 Lessor shall be liable for any loss or damage to property or any injury or death of any person not carried by
Aircraft caused by an occurrence arising out of or incidental to the possession, use, maintenance or operation of Aircraft in accordance with Agreement and Lessor shall indemnify and hold Lessee harmless accordingly in respect of all liability,
costs, claims, demands, suits, judgments or actions including all costs and expenses of any defense except when such loss or damage is caused by the willful misconduct or gross negligence of Lessee. 

 

	 	18.6.	 Lessee shall indemnify and hold Lessor harmless in respect of all liabilities, costs, claims, demands, suits,
judgments and causes of actions of or brought by a third party, including costs and expenses of any defense, arising from Lessee’s failure to comply with its obligations under Article 13 hereof, and Lessor shall indemnify and hold Lessee
harmless in respect of all liabilities, costs, claims, demands, suits, judgments and actions including costs and expenses of any defense, arising from Lessor’s failure to comply with its obligations under Article 12 hereof.

  

	 	18.7.	 Each Party shall pay to the other Party on demand all expenses (including legal, survey and other costs)
payable or incurred by the other Party in contemplation of, or otherwise in connection with, the enforcement of or preservation of any rights in accordance with Agreement or otherwise in respect of moneys owing in accordance with Agreement or in
respect of any breach of any representation, warranty, covenant or undertaking herein contained or in respect of the repossession of Aircraft. 

  

	 	18.8.	 The indemnities contained in Agreement shall continue in full force and effect notwithstanding the expiration
or other termination of Agreement. 

  
 13 

	19.	 INSURANCE 

  

	 	19.1.	 Lessor at its own cost and expense shall maintain in full force and effect during Lease Term Aircraft Hull and
Third party Legal Liability insurance (including, to the fullest extent available, war and allied perils coverage for those perils excluded by War, Hijacking and Other Perils Exclusion Clause AVN48B or any modification or substitution thereof for
the time being in force) for a Combined Single Limit of not less than USD 750,000,000 (Seven Hundred Fifty Million United States Dollars) each occurrence, unlimited in all but in the aggregate in respect of war and allied perils coverage. The Hull
Insurance shall contain a waiver of rights of subrogation against the Lessee, provided that such waiver of rights of subrogation will not apply to any damage to the Aircraft caused by the gross negligence or willful misconduct of any Lessee.

  

	 	19.2.	 The insurance maintained by Lessor shall include Lessee, its directors, officers, servants, employees and
agents as additional insureds (except in respect of claims caused by the gross negligence or willful misconduct of any of Lessee, its directors, officers, servants, employees and agents). 

 

	 	19.3.	 In case Lessee shall require flights to Excluded Countries and Lessor, its insurer and Head Lessor have
provided their written consent to operate such flights with Aircraft, Lessor shall maintain and Lessee will provide payment for, within five (5) days from invoice date, Hull All Risks and Hull War and Allied Perils insurance for Aircraft
providing a waiver of subrogation against Lessee, its directors, officers, servants, employees or agents (except in respect of claims caused by the gross negligence or willful misconduct of any of Lessee, its directors, officers, servants, employees
and agents). 

  

	 	19.4.	 Lessee at its own cost and expense shall maintain in full force and effect during Lease Term passenger
(including passengers baggage and personal effects, war risk supplement per person), cargo and mail legal liability insurance for a combined single limit of not less than USD 750,000,000 (Seven Hundred Fifty Million United States Dollars) each
occurrence, unlimited in all (including to the fullest extent available war and allied perils coverage for those perils excluded by War, Hijacking and Other Perils Exclusion Clause AVN48B or any modification or substitution thereof for the time
being in force). 

  

	 	19.5.	 The insurance maintained by Lessee shall include Lessor and Head Lessor and their directors, officers,
servants, agents and employees as additional insureds. 

  

	 	19.6.	 Certificates of Insurance, evidencing the principal details of the insurance arranged in respect of Agreement
shall be provided by each Party to the other. 

  

	 	19.7.	 Lessee shall bear any additional insurance premiums for hull war risks or third-party liability if the premiums
are increased solely as a result from the operation of Aircraft in certain high-risk areas (as per latest excluded area clause) at the request of Lessee. Operation of such flights shall be subject to prepayment of relevant premiums. Lessor shall
inform Lessee of any intended increase in premium and, if requested by Lessee, shall cooperate with Lessee to reduce or eliminate such premiums. 

  

	 	19.8.	 The insurance maintained by Lessor may only be cancelled or materially altered in a manner adverse to the
Lessee by Lessor giving not less than thirty (30) days’ (seven (7) days’ or such lesser period as may be customarily available in respect of War and Allied Perils) written notice to Lessee. 

 

	20.	 REPRESENTATIONS AND WARRANTIES 

 

	 	20.1.	 Lessee hereby represents and warrants to Lessor that the following statements are, at the date hereof, true and
accurate: 

  

	 	a.	 Lessee is duly incorporated under laws of Malta and has the power to conduct its as presently conducted, to own
or hold under charter or lease its assets, to enter into and perform its obligations under this: and 

  
 14 

	 	b.	 The documents which contain or establish Lessee’s constitution incorporate provision which authorize, and
all necessary corporate action has been taken to authorize Lessee to sign and deliver and perform the transaction contemplated by Agreement; and 

  

	 	c.	 The execution and delivery of, the performance of its obligations under, and compliance by Lessee with the
provisions of the Lease will not (i) contravene any existing applicable law of its state of registration (or any other laws applicable therein), (ii) conflict with, or result in any breach of any of the terms of, or constitute a default under,
any agreement or other instrument to which Lessee is a party or is subject or by which it or any of its property is bound, (iii) contravene or conflict with any provision of its constitutional and/or organizational documents, or
(iv) result in the creation or imposition of, or oblige it to create, any Lien over its undertaking or any of its assets, rights or revenues; and 

  

	 	d.	 Lessee is not in default under any material agreement to which it is a party or by which it may be bound and no
litigation, arbitration or administrative proceeding is taking place or, to the best of its knowledge, pending or threatened against Lessee which could have a material adverse effect on its ability to perform its obligations under the Lease; and

  

	 	e.	 The choice by Lessee of the Laws of England and Wales to govern the Lease and the submission by Lessee to the
jurisdiction of the courts in England is valid and binding on Lessee; and 

  

	 	f.	 In any proceedings taken in any jurisdiction in relation to any of the Lease, Lessee will not be entitled to
claim for itself or any of its assets immunity from suit, execution, attachment or other legal process; and 

  

	 	g.	 Lessee has fully disclosed to Lessor all facts which in Lessee’s reasonable belief are material for
disclosure to Lessor in the context of this Lease and thereby, Lessee knows of no material facts that would render any information previously furnished by or on behalf of Lessee to be inaccurate or misleading and all information provided by Lessee
is not misleading or inaccurate; and 

  

	 	h.	 No Event of Default has occurred and is continuing: and 

 

	 	i.	 Lessee is solvent and able to pay its debts as the same fall due and the transactions contemplated by the Lease
are of commercial benefit to it and in its commercial interests; and 

  

	 	j.	 Lessee is not, and is not affiliated with a sanctioned person, nor does it have funds that are transferred from
or through, nor does it have operations in any sanctioned country (any state, country or jurisdiction to which the use of Aircraft is not permitted under any sanctions, orders or legislation from time to time promulgated by any of: the United
Nations, the European Union, the U.S. (including OFAC); any country which is prohibited under Lessor’s insurance coverage from time to time in effect, or any Governmental Authority of Latvia or any country having jurisdiction over Owner, Lessor
or Head Lessor, the effect of which prohibits or restricts the location and/or consigning for use of the Aircraft in such state, country or jurisdiction); and 

 

	 	k.	 Lessee is subject to private commercial Law and suit under the Laws of all relevant jurisdictions, and Lessee
is not entitled to sovereign immunity under any such Laws and the entry into and performance by Lessee of the Lease constitutes private and commercial act; neither Lessee nor its assets have the right of immunity from suit, attachment or execution
on the grounds of sovereignty within any jurisdiction. Lessee covenants with Lessor that to the extent Lessee hereafter may acquire any such right of sovereign immunity, Lessee hereby irrevocably waives such rights in respect of its obligations
hereunder; and 

  

	 	I.	 This Agreement constitutes legal, valid and binding obligations of Lessee which are enforceable in accordance
with the provisions hereof. 

  

	 	20.2.	 Lessor hereby represents and warrants to Lessee that the following statements are, at the date hereof, true and
accurate: 

  

	 	a.	 Lessor is duly incorporated under the laws of United States of America and has the power to conduct its
activities as presently conducted, to own or lease its assets, to enter into and perform its obligations in accordance with Agreement; and 

  
 15 

	 	b.	 The documents which contain or establish Lessor’s constitution incorporate provision which authorize, and
all necessary corporate action has been taken to authorize Lessor to sign and deliver and perform the transaction contemplated by Agreement; and 

  

	 	c.	 The Agreement constitutes legal, valid and binding obligations of Lessor which are enforceable in accordance
with the provisions hereof; and 

  

	 	d.	 The execution and delivery of, the performance of its obligations under, and compliance by Lessor with the
provisions of the Lease will not (i) contravene any existing applicable Law of its state of organization (or any other laws applicable therein), (ii) conflict with, or result in any breach of any of the terms of, or constitute a default under,
any agreement or other instrument to which Lessor is a party or is subject or by which it or any of its property is bound, or (iii) contravene or conflict with any provision of its constitutional and/or organizational documents; and

  

	 	e.	 On and as of Delivery, Lessor shall have the right to lease the Aircraft to Lessee; and 

 

	 	f.	 As long as no event of default of Lessee has occurred and is continuing Lessor shall ensure and guarantee that
the Head Lessor shall ensure the quiet enjoyment of Aircraft by Lessee. 

  

	21.	 COVENANTS 

  

	 	21.1.	 Lessee hereby covenants with Lessor that during the Lease Term until Lessee’s obligations hereunder have
been fully discharged it will: 

  

	 	a.	 subject to division of responsibilities between Lessor and Lessee of Articles 9 and 10 

 

	 	(i)	 not cause Aircraft to proceed to, or remain at, any location which is subject to a prohibition order (or
similar order or directive) or, as the case may be, a contractual restriction, limitation issued by the insurers of Aircraft (under all policies mentioned herein), Aircraft manufacturer, Head Lessor and any applicable Government Entity; and

  

	 	(ii)	 comply with all laws and regulations in Malta and in any country to, from in or over which Aircraft is flown

  

	 	b.	 notify Lessor immediately of any occurrence which would adversely affect Lessee’s ability to perform any
of its obligations in accordance with Agreement and evidence effort to overcome effects of such occurrence; 

  

	 	c.	 obtain and maintain all necessary certificates, consents, licenses, permits and authorizations of Government
Entities and other relevant bodies and take all action which may be necessary for the continued due performance of Lessee’s obligations of Agreement and for the use and operation of Aircraft; 

 

	 	d.	 pay promptly when due all navigation and en-route charges and all other
charges payable by Lessee for the use of or services provided at any airport in respect of the Aircraft. 

  

	 	21.2.	 Lessor hereby covenants with Lessee that during the Lease Term until Lessor’s obligations hereunder have
been fully discharged it will: 

  

	 	a.	 not cause Aircraft to proceed to, or remain at, any location which is subject to a prohibition order (or
similar order or directive) or, as the case may be, a contractual restriction, limitation issued by the insurers of Aircraft (under all policies mentioned herein), Aircraft manufacturer, Head Lessor and any applicable Government Entity; and

  

	 	b.	 comply with all laws and regulations in force in United States of America and in any country to, from in or
over which Aircraft is flown. 

  

	 	c.	 notify Lessee immediately of any occurrence which would adversely affect Lessor’s ability to perform any
of its obligations in accordance with Agreement and evidence effort to overcome effects of such occurrence; 

  

	 	d.	 obtain and maintain all necessary certificates, consents, licenses, permits and authorizations of Government
Entities and other relevant bodies and take all action which may be necessary for the continued due performance of Lessor’s obligations in accordance with Agreement and for the use and operation of Aircraft; 

 

	 	e.	 promptly provide copies of all reports or documents relating to Aircraft or its operation to Lessee.

  
 16 

	22.	 APPLICABLE LAW 

  

	 	22.1.	 Agreement shall be governed by and be construed in accordance with the laws of England and Wales. Parties agree
that courts of England have jurisdiction to settle any disputes that may arise in connection with the Agreement and irrevocably submit to the jurisdiction of the courts of England in respect of such disputes. 

 

	 	22.2.	 If any dispute or claim should arise between Parties relating to the Agreement or to any rights or obligations
conferred or provided for herein, Parties agree to each use all reasonable efforts to amicably resolve such dispute or claim. 

  

	 	22.3.	 Except as expressly provided herein, the remedies of Parties hereunder shall be limited to remedies for breach
of contract only, and, notwithstanding anything to the contrary contained in this Agreement, neither Party shall be entitled to pursue or seek punitive or consequential damages for any alleged breach relating to or arising in accordance with
Agreement. 

  

	23.	 NOTICES 

  

	 	23.1.	 All notices, requests, demands and other communications required or permitted by the terms of Agreement to be
given or made to either Party shall (unless otherwise specified) be in writing in English and shall be given by any one of the following means: personal delivery, airmail, fax or e-mail to the addresses and
numbers given below or at such other address or number the recipient may have notified to the other Party in writing, and shall be deemed duly served upon receipt. 

 

	 	a.	 Lessors’ address: 

Global Crossing Airlines, Inc, an air carrier established under the laws of United States of America, at 4th Floor, 
 4200 NW 36th Street,
Miami, Fl 33166, 
 Phone: NUMBER: 305.869.4780 

Email: ryan.goepel@globalairlinesgroup.com 
  

	 	b.	 Lessee’s address: 

SMARTLYNX AIRLINES MALTA, an air carrier established under the laws of Malta, at Nu Bis Centre, Trig
Il-Mosta, hal Lija, LJA 9012, Malta , 
 Phone:
+3717207392                    Fax +3717207392 

Email: aleksandrs.gusevs@smartlynx.aero 
  

	 	23.2.	 All notices shall be in writing, in English and shall be deemed received: 

 

	 	a.	 in the case of a notice delivered personally, at the time of delivery; 

 

	 	b.	 in the case of a notice by facsimile on confirmation of receipt; and 

 

	 	c.	 in the case of e-mail, the day on which it has been sent to any of
email addresses above 

  

	24.	 CONFIDENTIALITY AND DATA PROTECTION 

 

	 	24.1.	 Each Party (which for this purpose will include each Party’s employees, agents, representatives and
advisors) undertakes that it shall not at any time during the Lease Term and for a period of five (5) years after termination of this Agreement, disclose to any person any confidential information concerning the other Party’s business,
affairs, customers, clients or suppliers or this Agreement (including but not limited to any reports, data or information furnished under this Agreement), except as permitted by Article 24.2. 

 

	 	24.2.	 Each Party may disclose the other Party’s confidential information: (a) to its employees, agents,
representatives and advisers who need to know such information for the purposes of exercising the Party’s rights or carrying out its obligations under or in connection with this Agreement. Each Party shall ensure that its employees, agents,
representatives or advisers to whom it discloses the other Party’s confidential information comply with Articles 24.1 to 24.3; and (b) as may be required by law, a court of competent jurisdiction or any regulatory or statutory authority.

  
 17 

	 	24.3.	 Neither Party shall use the other Party’s confidential information for any purpose other than to exercise
its rights and perform its obligations under or in connection with this Agreement. 

  

	 	24.4.	 The provisions of Articles 24.1 to 24.3 shall not apply to any confidential information that: (a) is or
becomes generally available to the public (other than as a result of its disclosure by the receiving Party (including its agents, employees or representatives) in breach of this clause); (b) was available to the receiving Party on a non-confidential basis before disclosure by the disclosing Party; or (c) was, is or becomes available to the receiving Party on a nonconfidential basis from a person who, to the receiving Party’s
knowledge, is not bound by a confidentiality-agreement with the disclosing Party or otherwise prohibited from disclosing the information to the receiving Party. 

 

	 	24.5.	 Neither Party will acquire any right in the other’s data and/or information. The receiving Party will take
all necessary steps to ensure that it will not use nor reproduce any data, information or know-how of the disclosing Party which comes into its possession or control, except as required by this Agreement.

  

	 	24.6.	 Each Party shall take all necessary steps to ensure that data and information belonging to the other Party
which comes into its possession or control in the course of this Agreement is protected and shall not: (a) use the data or information nor reproduce the data or information in whole or in part in any form except as may be required by this
Agreement; (b) disclose the data or information to any third party or persons not authorized by the disclosing Party to receive it, except with the prior written consent of the disclosing Party; or (c) alter, delete, add to or otherwise
interfere with the data or information (save where expressly required to do so by the terms of this Agreement and only with the prior consent of the disclosing Party). 

 

	 	24.7.	 Each Party shall ensure that if it becomes aware of any data security breach it shall immediately take all
steps necessary to prevent further breach, and it shall immediately report any such breach of this Article 24 to the other Party. 

  

	 	24.8.	 To the extent that any data or information belonging to a disclosing Party that may be processed or accessed by
the other Party is personal data within the meaning of any applicable data privacy or personal data legislation, the Parties will comply with all applicable rules and regulations. 

 

	 	24.9.	 Each Party will indemnify and hold the other Party harmless (and keep it indemnified and held harmless
notwithstanding termination of this Agreement) against all costs, claims, demands, suits, judgments and causes of action of or brought by any third party directly as a result of any breach by the indemnifying Party of any of the provisions of this
Article 24. 

  

	 	24.10.	 This Article 24 shall survive the termination or expiry of this Agreement. 

 

	25.	 MISCELLANEOUS 

  

	 	25.1.	 Nothing in the Agreement is intended to create any form of partnership or joint venture between Parties.

  

	 	25.2.	 Neither Party may assign or otherwise transfer any of its rights and/or obligations in accordance with
Agreement without the prior written consent of the other Party. 

  

	 	25.3.	 The terms and conditions of Agreement shall not be varied otherwise than in writing and executed by Parties.

  

	 	25.4.	 The failure of any Party in any one or more instances to insist upon observance of one or more of the covenants
or conditions hereof, or to exercise any remedy, privilege or option herein conferred upon or reserved to such Party, shall not be construed as a waiver of any future breach of any covenants or conditions or of the right to enforce the same or to
exercise such privilege, option or remedy. 

  
 18 

	 	25.5.	 If any term or condition of Agreement shall to any extent be invalid or unenforceable, the remainder of
Agreement shall not be affected thereby and each other term and condition shall be valid and enforceable to the fullest extent permitted by law. 

  

	 	25.6.	 Parties shall keep the terms and conditions of Agreement confidential. The parties shall consult with each
other with respect to any proposed redactions to this Agreement in compliance with applicable laws before it is filed publicly. 

  

	 	25.7.	 The rights and remedies conferred on Parties by Agreement are cumulative and are not exclusive of any rights
and remedies provided by law. 

  

	 	25.8.	 Lessee shall not (except with the prior written consent of Lessor) directly or indirectly solicit or entice
away (or attempt to solicit or entice away) from the employment or engagement of Lessor any person (employee, worker or independent contractor) employed or engaged by Lessor at any time during the term and for a further period of 12 months after the
termination of this Agreement. If Lessee commits any breach of this clause, Lessee shall, on demand, pay to Lessor a sum equal to USD150 000 plus the recruitment costs incurred by Lessor in replacing such person. 

 

	 	25.9.	 This Agreement may be executed in any number of copies. A signed and scanned signature on any copy shall be
deemed an original for all purposes. 

  

	 	25.10.	 This Agreement is valid for acceptance until 1 st of June, 2020. Should due to any reason Agreement not be
signed by Lessee by this date, Lessor has right to release Aircraft in the market or reoffer it to Lessee at different commercial conditions. 

  

	 	25.11.	 Parties shall each bear their own legal costs arising out of documenting this transaction.

 IN WITNESS WHEREOF Parties have caused Agreement to be executed the date first above written. 

Made in Miami and Made in Malta 
  

					
	For and on behalf of	 		 	For and on behalf of
			
	Global Crossing Airlines, Inc. – LESSOR	 		 	SMARTLYNX AIRLINES MALTA – LESSEE
			
	/s/ Ryan Goepel	 		 	/s/ Aleksandrs Gusevs
	Ryan Goepel	 		 	Aleksandrs Gusevs
	EVP and CFO	 		 	BOARD MEMBER

  
 19 

 Annex A 

Rates, Payments and Additional Support 
  

	1.	 RENT 

  

	 	1.1.	 Lessee shall pay Lessor Lease Rate of Two Thousand Five Hundred USD (USD 2500) per Block Hour for all Block
Hours in accordance with Minimum Period Guarantee. 

 The Block Hour rates set forth in this Article 1.1 shall be increased
for inflation on 1 May of each calendar year (commencing 1 May 2022) by a percentage amount equal to three percent (3%). 
  

	 	1.2.	 Rent is inclusive of cockpit crew and per diems at Fifty USD (USD 50) per person per day, exclusive of
accommodation at Base as well as exclusive of any air or ground crew positioning costs to and from Base, if direct related to the flight program of Lessee. 

  

	 	1.3.	 Lessee shall prepay Lessor Rent for all Additional Block Hours over and above the Minimum Period Guarantee of
respective Lease Term according to rates of Annex A, Article 1.1. 

 For avoidance of doubt, Lessor is not obliged to
operate hours in excess of Minimum Period Guarantee, but shall not unreasonably refuse any such requests from the Lessee. 
  

	 	1.4.	 All payments shall be made without deduction or withholding and in immediately available funds. All payments
are considered executed when received in Lessor’s bank account. 

  

	 	1.5.	 Lessor shall report to Lessee the number of actual Block Hours flown based on Aircraft Journey Log report
within 24 hours after each given Flight. Journey Log serves as reference for accounting Block Hours. Block Hours are measured to two decimal places. 

  

	 	1.6.	 Block Hours associated with delivery and redelivery of each Aircraft shall not be counted towards Minimum
Period Guarantee of respective Lease Term and shall be paid as per clause 5.1 of ACMI Agreement. 

  

	 	1.7.	 After completion of redelivery flight, fuel reconciliation shall be performed compared to position prior to
delivery flight. Fuel reconciliation shall be performed after each time Aircraft has left Base in accordance with Article 9.5 of Agreement. Rent of extra cabin crew or flight crew is reconciled at the end of the Lease Term but prepaid as per
approximate amounts prior to being used. 

  

	 	1.8.	 Lessor is obliged to provide cabin crew trainers to train Lessee’s cabin crews in accordance with
procedures of Lessor so as to permit them operate on the Aircraft independently. In the alternative, parties might evaluate an option that Lessee may provide a crew trainer to be trained by Lessor and then the crew trainer shall be responsible for
providing training to the rest of Lessee’s cabin crew. Trainer services fee is in amount of $200USD per person per day and all expenses, including travel, hotel accommodation of trainer, facility rental, and materials printing are Lessee’s
cost. 

  

	 	1.9.	 Lessor may provide services of their cabin crew, at extra cost of $75USD per person per Block Hour operated and
all other support on Lessee expense prepaid. It is Lessee’s decision to request or not cabin crew members to operate the flights. 

  

	 	1.10.	 Lessee acknowledges that the Lessor may conduct periodic evaluations of the cabin crew as required by the
Aviation Authority, by way of observation on certain flights. Lessee is liable for paying fee, under Annex A Article 1.9 as well as all travels and hotel accommodation for such observers. Such observation flights shall be coordinated between parties
and shall not exceed 5% of all flights. 

  

	 	1.11.	 Should flights operate in a W-pattern occur, or flight operations to
down route stations not supported by approved and qualified MRO providers, then a flying spanner shall be required on such flights, and Lessor may provide such at extra costs of Sixty Five USD (USD 65) per person per Block Hour, plus per diem of
Seventy USD (70USD) and all other support, on Lessee cost. 

  

  
 20 

	 	1.12.	 The rate is based on average hour cycle ratio for Lease Term of 3:1 and if any calendar month during Lease Term
the ratio will be lower than 10% from above, that is, below 2.7:1, Lessee will compensate this by paying a surcharge on all hours flown during that calendar month by a percent increase in Lease Rate that corresponds to decimal insufficiency towards
cycle ratio above. 

  

	 	1.13.	 Whenever Lessor’s cabin crew is operating for Lessee, they are entitled to same onboard sales bonus as
Lessee’s own cabin crew operating on Flights, if any. Details of such are further agreed between Parties. 

  

	2.	 PAYMENT 

  

	 	2.1.	 Following Rent payment schedules for Lease Term One, Lease Term Two, Lease Term Three, Lease Term Four, Lease
Term Five, Lease Term Six, Lease Term Seven and Lease Term Eight will apply, in any Lease Term payment dates being 1st date of month for 16th to last date of that month, and 15th date of month for the
1st to 15th date of the following month, any date being weekend or national holiday payment will be made on previous workday.

 All payments to be made in accordance with Agreement by Lessee to Lessor shall be made directly into Lessor’s
account, such account to be advised by Lessor in writing. 
 Rent payments and all other sums payable shall be in USD and shall be free of
banking charges and fees shall be deemed to have been made on the date on which they are received in Lessor’s bank account. 
  

	 	2.2.	 Any set off or deduction is subject to written consent of Lessor. 

 

	 	2.3.	 All incoming payments from Lessee to Lessor will first be applied to least recent invoices unpaid.

  

	 	2.4.	 An interest rate of 3% per annum shall be applied on all outstanding payments, as of date when payment should
have been latest received to date when they were actually received. 

  

	 	2.5.	 All payments are considered executed when received in Lessor’s bank accounts. Non-operation of Flights due to Lessee’s non-fulfilment of payment obligations does not release them from accruing obligations. 

 

	 	2.6.	 Block Hours over Minimum Period Guarantee are prepaid at estimate level and reconciled at the end of each Lease
Term. For avoidance of doubt, all Block Hours are paid prior they are flown. 

  

	 	2.7.	 Intentionally blank; 

 

	 	2.8.	 At the end of each Lease Term, reconciliation will be completed within 30 days after the redelivery of
Aircraft. 

  

	 	2.9.	 Lessor has right not to operate Flights if any payment due is not received. 

 

	 	2.10.	 All ancillary payments (travel cost, trainer fee and similar) are prepaid at estimated level for following
month on 15th date prior month when such are consumed, reconciled as per actual, until 15th date of following month. 

  

	3.	 DEPOSIT 

  

	 	3.1.	 To ascertain that Lessee Leases the Aircraft and fulfils their obligations herein, Lessee shall provide a
deposit (the “Deposit”) in a form of cash from a respectable bank, amounting to Two Hundred Fifty Thousand USD (USD 250 000) per each Aircraft 1 and Aircraft 2. The Deposit shall be paid as follows: 

 

	 	a)	 For Aircraft-1: For Lease Term One: USD 250 000 no later
than 1st of December, 2020; For Lease Term Two and all following Lease Terms: USD 100 000 no later than 31st of December of each applicable calendar year, USD 100 000 no
later than 28th of February of each applicable calendar year and USD 50 000 no later than 1st of April of each applicable calendar
year. 

  

	 	b)	 For Aircraft-2: For Lease Term Two and all following Lease Terms
USD 100 000 no later than 31st of December of each applicable calendar year, USD 100 000 no later than 28th of February
of each applicable calendar year and USD 50 000 no later than 1st of April of each applicable calendar year. 

 

  
 21 

 Within 30 days of the end of each Lease Term, Lessor shall return the full amount or part hereof of the
Deposit to Lessor. For avoidance of doubt, first instalment of Aircraft-1 of USD 50 000 is a non-refundable amount to be kept by the Lessor in any conditions. 

 

	 	3.2.	 Lessee acknowledges that Lessor may access and use Deposit in all and any cases as stipulated by Agreement, in
particular to remedy obligations to lease Aircraft during each Lease Term, pay or provide support, without prejudice to any other remedies available to Lessor. 

If, for any reasons cash deposit is used and applied as payment for Lessee’s due obligations in whole or in part during Lease Term, Lessee
shall restore cash deposit to the full amount within five (5) days from notification of Lessor. 
  

	 	3.3.	 Lessor shall within two (2) days after a written request of Lessee to release the Deposit one of the
following occur: 

  

	 	a.	 Lessor does not obtain the necessary approvals from board or Head Lessor to enter into Agreement,

  

	 	b.	 Lessor Aviation Authority does not approve lease of Aircraft, 

 

	 	c.	 Aircraft inspection or Audit of Lessor by Lessee has a justifiable unsatisfactory conclusion,

  

	 	d.	 Insurance agreed in the Agreement is invalidated for any reason attributable to Lessor; or

  

	 	e.	 Lessor fails to deliver Aircraft (other than for reasons of Force Majeure or Total Loss) or Replacement
Aircraft on the Delivery Date; or 

  

	 	f.	 Lessor ceases to be a commercial air carrier hence failing to perform the services. 

 

	 	3.4.	 Lessee is obliged to provide Lessor with monthly evidence of payment of over flight fees as accrued by
Aircraft. Lessor may request Lessee to present evidence of payment of fees to other suppliers, including but not limited to ground handling agents and fuel suppliers. Provision of such information in a regular and accurate manner is a material
obligation of Lessee. 

  

	 	3.5.	 Failure of Lessee to abide to their obligations precludes Lessor from fulfilling theirs. 

IN WITNESS WHEREOF Parties have caused Agreement to be executed the day and year first above written. 

Made in Miami and Made in Malta 
  

					
	For and on behalf of	 		 	For and on behalf of
			
	Global Crossing Airlines, Inc. – LESSOR	 		 	SMARTLYNX AIRLINES MALTA – LESSEE
			
	/s/ Ryan Goepel	 		 	/s/ Aleksandrs Gusevs
	Ryan Goepel	 		 	Aleksandrs Gusevs
	EVP and CFO	 		 	BOARD MEMBER

  
 22 

 Annex B 

Direct Operating Costs (DOC’s) 
 Lessee is
responsible for all expenses as follows, irrespective of whether Lessee has or has not been payer of those: 
  

	a.	 accommodation in single rooms of minimum 4*** international standard, with continuous room stock at same hotel
corresponding to contractual number of crews, professionally secured if deemed necessary by Lessor’s security management, on a bed and breakfast basis (early departure meals available) with free of charge wireless internet access and laundry
facilities in Base and all outstations, during duty and off-duty days for all Lessor’s crew, station manager and technical personnel. Choice of the hotel is subject to Lessor’s preparation
team’s consent, prerequisites for room facilities being climate control, smoke detector, direct phone line into room, black-out curtains, light level control, room’s size not less than 18sqm.

  

	b.	 ground transport for Lessor’s crew, station manager and technical personnel between the place of
accommodation and Base, professionally secured if deemed necessary by Lessor’s security management. Parties agree to use hotel shuttle for such ground transportation between the place of accommodation and Base. In case transportation is needed
outside of hotel shuttle working hours, a separate dedicated ground transportation shall be organized for Lessor’s personnel accordingly. Lessee acknowledges that maintenance personnel and crew have different patterns of need for ground
transport, all transport related to Lessee’s Flights. Travel for all Lessor’s crew, station manager and technical personnel to and from Base, whenever not related to Flights at maximum USD 75 000 (excluding extra crew and cabin crew and
cabin crew trainers) per each Lease Term per each Aircraft. Travel is organized by Lessor’s travel organization, except when related to Lessee’s Flights. First travel choice is by air at lowest coach standard rate with 1 check-in luggage included; if not available or suitable as deemed by Lessor’s crewing specialist then second choice is by land. 

 

	c.	 airside passes and work permits and all costs related to obtaining such, to be supplied latest at least one
week prior to of. 

  

	d.	 All visas, invitation letters and expenses associated with obtaining such, including security course, air side
driver’s license course and administrative fees. 

  

	e.	 suitable secure, clean and air-conditioned and lockable storage space
airside for parts (if 10 sqm per aircraft for consumables and l0sqm per aircraft for wheels and brakes), with free of charge wired internet connection with non-blocked TCP/UDP ports for H323 VoIP calls and
230V electricity supply, isolated from Lessee activities or other activities, furnished with shelves capable to carry the load of components (20kgs per shelf) at Base. Lessee is obliged to provide technical drawings of such premises, as well as
address thereof no later than two weeks prior to of to allow set up and certify line maintenance station. 

  

	f.	 shared transport –landside and airside for Lessor’s technical personnel and station manager
sufficiently large to carry wheels and brakes as well as airside ID for the transport. 

  

	g.	 Airside escort, if such is needed. 

 

	h.	 As available with Lessee’s contract agency, a suitable crew-briefing room with telephone, fax and with
free of charge wired internet connection with non-blocked TCP/UDP ports for HTTP, HTTPS, SSL, VPN (L2TP), and 110V electricity supply. 24h stable internet connection (without peak bottlenecks). If no briefing
room at the airport can be provided Lessee provides one extra room at the Base hotel to be used as briefing room, no later than one day prior to to of. 

  

	i.	 Suitable shared office within the existing premises of the Lessee, with telephone, fax and with free of charge
wired internet connection with non-blocked TCP ports for HTTP, HTTPS, SSL, VPN (L2TP), 110V electricity supply. As available, 10Mpbs speed with packet loss less than 3%; usage of Smartlynx VPN router (with
DHCP WAN); provide contact information of Local IT support, no later than one day prior to 16th April, 2018. 

  
 23 

	j.	 an experienced dedicated operations liaison representative of Lessee to liaise with Lessor and operationally
assist at all stations in respect of all matters in connection with the operation of Aircraft including obtaining necessary Visas, permits, Ids and passes; 

  

	k.	 any and all customs (on parts temporarily imported by Lessor), immigration and inspection fees or charges,
including per passenger fees, overtime charges, late return fees and services charges imposed by any Government Entity unless such costs occur from incorrectly filled in customs documents by Lessor or their suppliers; 

 

	I.	 any and all taxes, fees, security charges, departure taxes and related charges which are assessed on a per
passenger basis or based on air revenue (excluding taxes based on the net income of Lessor) which are imposed by any Government Entity or airport authority, including; 

 

	m.	 screening of passengers, baggage, mail and cargo, all passenger claims, compensations and welfare costs

  

	n.	 all documentation and approvals to be obtained in relation to Flights in accordance with Agreement, including
all traffic rights, slots 

  

	o.	 insurance under the responsibility of the Lessee as provided in Agreement, including any supplements for war
risk 

  

	p.	 free of charge freight on Lessee’s flights for spares required to maintain Aircraft 

 

	q.	 marketing, sales, ticketing and check-in; 

 

	r.	 other Direct Operating Costs as follows: 

 

	 	(i)	 re-fuelling/de-fuelling
operations (including crew, operations officer and maintenance personnel to check and verify the delivered fuel quantity and quality and supply of fluid replenishment), fuels, hydraulic fluids, de-icing fluid,
lubricants and all maintenance fluids and gasses and in plane services of fuel, lubricants and other fluids, nitrogen for the operation of Aircraft including oil for hydraulic and engines 

 

	 	(ii)	 ground handling and security at all locations serviced by the Aircraft, including passenger, baggage, mail,
cargo and crew handling (including baggage mail and cargo storage, loading and unloading Aircraft) and securing Aircraft doors before take-off, and terminal and facility security in connection with Operations;

  

	 	(iii)	 provision of labor and suitable equipment at all locations serviced by the Aircraft to perform apron service
including, but not limited to, all servicing of Aircraft toilets, and fluids, marshalling, chock, ground power during transit time, de-icing, engine starting, firefighting, heating and cooling, passengers and
crew steps, water replenishment and ground to cockpit communications; 

  

	 	(iv)	 interior and exterior cleaning and serviceability of the Aircraft at the Base to accepted international airline
standards, , including replacement of missing life jackets, cleaning or replacement of seat covers and cleaning of carpets, as well as repair of and replacement of movable emergency equipment and fittings. Turnaround cleaning at the outstation to be
performed by the cabin crew. 

  

	 	(v)	 landing and all airport charges and taxes; 

 

	 	(vi)	 aircraft parking, towing and security, qualified ground crew, operations officer and maintenance personnel to
assist with Aircraft movement, push back, tugs, tow bar and qualified crew, operations officer and maintenance personnel for taxi-in and push-out procedures;

  

	 	(vii)	 over flight charges and any other route navigation charges, including Euro control, traffic rights, overfly and
other Air Traffic Control and en route navigation charges incurred by Lessor in connection with the operation of Aircraft for flights in accordance with Agreement; 

 

	 	(viii)	 intentionally blank; 

 

	 	(ix)	 customs, immigration and inspection fees related to Aircraft operations or supplies; 

  
 24 

	 	(x)	 all catering for cockpit and cabin crew with one warm meal-set and
snack as per Lessor’s OM-A, as well as soft drinks per roundtrip flight per crew member, all catering equipment and responsibility of such, also when borrowed from Lessor; 

 

	 	(xi)	 all in-flight service materials and dry goods including but not limited
to In-Flight-Entertainment content and headsets, safety-on-board cards, airsickness bags, blankets, pillows and headrest covers;

  

	 	(xii)	 intentionally blank; 

 

	 	(xiii)	 delivery and redelivery of Aircraft on a 50/50 basis; and 

 

	 	(xiv)	 any and all other reasonable direct operating cost incurred in the performance of Flights whether or not listed
above. 

 Charges for all DOCs shall be paid directly by Lessee and in those cases where such DOCs are invoiced to Lessor then Lessor will
re-invoice such to Lessee, with 1% service fee, and Lessee will pay them within two days from invoice date. 
 Made
in Miami and Made in Malta 
  

					
	For and on behalf of	 		 	For and on behalf of
			
	Global Crossing Airlines, Inc.—LESSOR	 		 	SMARTLYNX AIRLINES MALTA—LESSEE
			
	/s/ Ryan Goepel	 		 	/s/ Aleksandrs Gusevs
	Ryan Goepel	 		 	Aleksandrs Gusevs
	EVP and CFO	 		 	BOARD MEMBER

  
 25 

 Annex C 

Flight Schedule 
  

					
	Made in Miami and Made in Malta	 		 	
			
	For and on behalf of	 		 	For and on behalf of
			
	Global Crossing Airlines, Inc.—LESSOR	 		 	SMARTLYNX AIRLINES MALTA—LESSEE
			
	/s/ Ryan Goepel	 		 	/s/ Aleksandrs Gusevs
	Ryan Goepel	 		 	Aleksandrs Gusevs
	EVP and CFO	 		 	BOARD MEMBER

  
 26 

 AMENDING AGREEMENT NO. 1 

UNANIMOUS SHAREHOLDER AGREEMENT 

THIS AMENDING AGREEMENT NO. 1 (this “Agreement”) is made as of the 24th day of October 2020 (the “Amendment
Effective Date”), between Global Crossing Airlines. (“GlobalX”) and Smartlynx Airlines Malta (“Smartlynx”), and together with GlobalX, the “Parties”. 

WHEREAS the Parties entered into an Aircraft ACMI Lease Agreement dated effective June 1, 2020; 

AND WHEREAS the parties hereto wish to amend the terms of the Aircraft ACMI Lease Agreement on the terms and subject to the conditions
set out in this Agreement; 
 NOW THEREFORE THIS AGREEMENT WITNESSETH that for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
  

	1.	 References 

Upon execution of this Agreement, the Aircraft ACMI Lease Agreement shall be deemed to have been amended as of the Amendment Effective Date.
The terms “hereof, “herein”, “this Agreement” and similar terms used in the Aircraft ACMI Lease Agreement, shall mean and refer to, from and after the Amendment Effective Date, the Aircraft ACMI Lease Agreement as amended by
this Agreement. 
  

	2.	 Captions and Heading 

The inclusion of headings preceding the text of the sections of this Agreement are intended for convenience of reference only and shall not
affect in any way the construction or interpretation thereof. 
  

	3.	 Amendments 

Annex A Section 3.1(a)(b) of the Aircraft ACMI Lease Agreement shall be amended by replacing the existing clause with: 

 

	 	a)	 For Aircraft-1: For Lease Term One: USD 250 000 no later than 1st of
December, 2020; or upon confirmation of AOC whichever date is later and subject to Lessees prior written confirmation. 

  

	 	b)	 For Lease Term Two and all following Lease Terms: USD 100 000 no later than 31st of December of each applicable
calendar year, USD 100 000 no later than 28th of February of each applicable calendar year and USD 50 000 no later than 1st of April of each applicable calendar year or upon confirmation of AOC whichever date is later. 

 

	4.	 Successors and Assigns 

This Agreement shall be binding upon, and shall endure to the benefit of each of the parties hereto and their respective successors and
permitted assigns. 

	5.	 Governing Law 

This Agreement shall be governed by and construed in accordance with the laws of the England and Wales applicable therein. 

 

	6.	 Counterparts 

This Agreement may be executed in counterparts, each of which shall be deemed to be an original and all of which taken together shall
constitute one and the same agreement. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or electronic mail shall be as effective as delivery of a manually executed counterpart of this Agreement. 

 

	7.	 One Agreement 

This Agreement further amends and supplements the Aircraft ACMI Lease Agreement. This Agreement and the Aircraft ACMI Lease Agreement shall be
read together and constitute one agreement with the same effect as if the amendments made by this Agreement had been contained in the Aircraft ACMI Lease Agreement as of the effective date of this Agreement. 

 

	8.	 Conflict 

If there is a conflict between any provision of this Agreement and any provision of the Aircraft ACMI Lease Agreement, the relevant provision
of this Agreement shall prevail. 
  

	9.	 Further Assurances 

Each party hereto shall from time to time promptly execute and deliver all further documents and take all further action necessary to give
effect to the provisions and intent of this Agreement. 
 [Signature page follows] 

  
 2. 

 IN WITNESS WHEREOF the Parties hereto have duly executed this Agreement effective as of the date
first above written. 
  

									
	Global Crossing Airlines Inc	 		 	Smartlynx Airlines Malta
					
	Per:	 	/s/ Ryan Goepel	 		 	Per:	 	/s/ [ILLEGIBLE]
		 	Name: Ryan Goepel	 		 		 	Name:
		 	Title: EVP and CFO	 		 		 	Title:

 AMENDING AGREEMENT NO. 2 

UNANIMOUS SHAREHOLDER AGREEMENT 

THIS AMENDING AGREEMENT NO. 2 (this “Agreement”) is made as of the 15th day of October 2020 (the “Amendment
Effective Date”), between Global Crossing Airlines. (“GlobalX”) and Smartlynx Airlines Malta (“Smartlynx”), and together with GlobalX, the “Parties”. 

WHEREAS the Parties entered into an Aircraft ACMI Lease Agreement dated effective June 1,2020; 

WHEREAS the Parties entered into an Amending Agreement NO. 1 dated effective July
29th, 2020; 
 AND WHEREAS the parties hereto wish to amend the terms of the
Aircraft ACMI Lease Agreement on the terms and subject to the conditions set out in this Agreement; 
 NOW THEREFORE THIS AGREEMENT
WITNESSETH that for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
  

	1.	 References 

Upon execution of this Agreement, the Aircraft ACMI Lease Agreement shall be deemed to have been amended as of the Amendment Effective Date.
The terms “hereof, “herein”, “this Agreement” and similar terms used in the Aircraft ACMI Lease Agreement, shall mean and refer to, from and after the Amendment Effective Date, the Aircraft ACMI Lease Agreement as amended by
this Agreement. 
  

	2.	 Captions and Heading 

The inclusion of headings preceding the text of the sections of this Agreement are intended for convenience of reference only and shall not
affect in any way the construction or interpretation thereof. 
  

	3.	 Amendments 

Section 4.5 of the Aircraft ACMI Lease Agreement shall be amended by replacing the current language with: “Lessee has a right to
terminate the Lease Term One of this ACMI Lease agreement due to reasons, limited to: failing to obtain AOC, continuous repeated outbreak of COVID-19 virus after the signature of this Agreement and its
implications on the aviation industry, causing overall aviation market decrease below 50% of the figures of 2019, by giving a written notice to Lessor not later than 01st of December, 2020. In
such case Lessor will credit the Lessee USD $250,000 towards the deposit requirements for Lease Term Two. For the avoidance of doubt, credited deposit becomes non-refundable. 

For avoidance of doubt, such termination is option only applicable in relation to Lease Term One, all the other Lease Terms for both Aircraft-1 and Aircraft-2 are to remain in full force and effect as per terms and conditions of this ACMI Agreement, including for the avoidance of doubt, the applicable
Security Deposit payments, and in case of any further Lease Terms are terminated by Lessee, clause 4.4 will be in force. 
 In addition
Lessor agrees to exercise $150,000 USD worth of a combined warrants (275,000 Warrant Shares) granted under PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT FOR UNITS exercised on June 24, 2020 and Options (50,000 Voting Shares) granted as part of the
INCENTIVE STOCK OPTION AGREEMENT dated June 23,2020 no later than December 01,2020 and issue a mutually agreeable press release announcing said investment. 

	4.	 Successors and Assigns 

This Agreement shall be binding upon, and shall endure to the benefit of each of the parties hereto and their respective successors and
permitted assigns. 
  

	5.	 Governing Law 

This Agreement shall be governed by and construed in accordance with the laws of the England and Wales applicable therein. 

 

	6.	 Counterparts 

This Agreement may be executed in counterparts, each of which shall be deemed to be an original and all of which taken together shall
constitute one and the same agreement. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or electronic mail shall be as effective as delivery of a manually executed counterpart of this Agreement. 

 

	7.	 One Agreement 

This Agreement further amends and supplements the Aircraft ACMI Lease Agreement. This Agreement and the Aircraft ACMI Lease Agreement shall be
read together and constitute one agreement with the same effect as if the amendments made by this Agreement had been contained in the Aircraft ACMI Lease Agreement as of the effective date of this Agreement. 

 

	8.	 Conflict 

If there is a conflict between any provision of this Agreement and any provision of the Aircraft ACMI Lease Agreement, the relevant provision
of this Agreement shall prevail. 
  

	9.	 Further Assurances 

Each party hereto shall from time to time promptly execute and deliver all further documents and take all further action necessary to give
effect to the provisions and intent of this Agreement. 
 [Signature page follows] 

 IN WITNESS WHEREOF the Parties hereto have duly executed this Agreement effective as of the date
first above written. 
  

									
	Global Crossing Airlines Inc	 		 	Smartlynx Airlines Malta
					
	Per:	 	/s/ Ryan Goepel	 		 	Per:	 	/s/ Aleksandrs Gusevs
		 	Name: Ryan Goepel	 		 		 	Name:
		 	Title: EVP and CFO	 		 		 	Title:

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