Document:

EX-10.8.3

 Exhibit 10.8.3 

PAYROLL SUPPORT PROGRAM 3 AGREEMENT 
  

			
	 Recipient:
 Air Wisconsin Airlines
LLC
 W6390 Challenger Drive, Suite 203
 Appleton, WI
54914
	  	 PSP Participant Number: PSP3A-2104160288

Employer Identification Number: 39-1767281

DUNS Number: 807197819

	
	Additional Recipients: N/A
	
	Amount of Initial Payroll Support Payment: $16664488.96

 The
Department of the Treasury (Treasury) hereby provides Payroll Support (as defined herein) under section 7301 of the American Rescue Plan Act of 2021. The Signatory Entity named above, on behalf of itself and its Affiliates (as defined herein),
agrees to comply with this Agreement and applicable Federal law as a condition of receiving Payroll Support. The Signatory Entity and its undersigned authorized representatives acknowledge that a materially false, fictitious, or fraudulent statement
(or concealment or omission of a material fact) in connection with this Agreement may result in administrative remedies as well as civil and/or criminal penalties. 

The undersigned hereby agree to the attached Payroll Support Program 3 Agreement. 

 

					
	 /s/ David A. Lebryk

Department of the Treasury
 Name: David A. Lebryk

Title: Fiscal Assistant Secretary
 Date: 06/01/2021
	 	     
 

 

	  	 /s/ Robert Binns

Air Wisconsin Airlines LLC
  

First Authorized Representative
 Name: Robert Binns

Title: President & CEO
 Date: 4/19/2021

 
 /s/ Gregg Garvey

Air Wisconsin Airlines LLC
  

Second Authorized Representative
 Name: Gregg Garvey

Title: SVP, Chief Accounting Officer & Treasurer
 Date:
4/19/2021

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 PAYROLL SUPPORT PROGRAM 3 AGREEMENT 

INTRODUCTION 
 Section 7301 of the
American Rescue Plan Act of 2021 (ARP) directs the Department of the Treasury (Treasury) to provide Payroll Support (as defined herein) to passenger air carriers and certain contractors that must be exclusively used for the continuation of payment
of Employee Salaries, Wages, and Benefits (as defined herein). The ARP requires certain assurances from the Recipient (as defined herein). 
 This Payroll
Support Program 3 Agreement, including all supporting documents submitted by the Recipient and the Payroll Support Program 3 Certification attached hereto (collectively, Agreement), memorializes the binding terms and conditions applicable to the
Recipient. 
 DEFINITIONS 
 As used in
this Agreement, the following terms shall have the following respective meanings, unless the context clearly requires otherwise. In addition, this Agreement shall be construed in a manner consistent with any public guidance Treasury may from time to
time issue regarding the implementation of section 7301 of the ARP. 
 Additional Payroll Support Payment means any disbursement of Payroll Support
occurring after the first disbursement of Payroll Support under this Agreement. 
 Affiliate means any Person that directly or indirectly controls,
is controlled by, or is under common control with, the Recipient. For purposes of this definition, “control” of a Person shall mean having the power, directly or indirectly, to direct or cause the direction of the management and policies
of such Person, whether by ownership of voting equity, by contract, or otherwise. 
 ARP means the American Rescue Plan Act of 2021. 

Benefits means, without duplication of any amounts counted as Salary or Wages, pension expenses in respect of Employees, all expenses for accident,
sickness, hospital, and death benefits to Employees, and the cost of insurance to provide such benefits; any Severance Pay or Other Benefits payable to Employees pursuant to a bona fide voluntary early retirement program or voluntary furlough; and
any other similar expenses paid by the Recipient for the benefit of Employees, including any other fringe benefit expense described in lines 10 and 11 of Financial Reporting Schedule P-6, Form 41, as published
by the Department of Transportation, but excluding any Federal, state, or local payroll taxes paid by the Recipient. 
 Corporate Officer means, with
respect to the Recipient, its president; any vice president in charge of a principal business unit, division, or function (such as sales, administration or finance); any other officer who performs a policy-making function; or any other person who
performs similar policy making functions for the Recipient. Executive officers of subsidiaries or parents of the Recipient may be deemed Corporate Officers of the Recipient if they perform such policy-making functions for the Recipient. 

Employee means an individual who is employed by the Recipient and whose principal place of employment is in the United States (including its
territories and possessions), including salaried, hourly, full-time, part-time, temporary, and leased employees, but excluding any individual who is a Corporate Officer or independent contractor. 

  
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 Involuntary Termination or Furlough means the Recipient terminating the employment of one or more
Employees or requiring one or more Employees to take a temporary suspension or unpaid leave for any reason, including a shut-down or slow-down of business; provided, however, that an Involuntary Termination or Furlough does not include a Permitted
Termination or Furlough. 
 Maximum Awardable Amount means the amount determined by the Secretary with respect to the Recipient pursuant to section
7301(b)(2) of the ARP. 
 Payroll Support means funds disbursed by the Secretary to the Recipient under this Agreement, including the first
disbursement of Payroll Support and any Additional Payroll Support Payment. 
 Permitted Termination or Furlough means, with respect to an Employee,
(1) a voluntary furlough, voluntary leave of absence, voluntary resignation, or voluntary retirement, (2) termination of employment resulting from such Employee’s death or disability, or (3) the Recipient terminating the
employment of such Employee for cause or placing such Employee on a temporary suspension or unpaid leave of absence for disciplinary reasons, in either case, as reasonably determined by the Recipient acting in good faith. 

Person means any natural person, corporation, limited liability company, partnership, joint venture, trust, business association, governmental entity,
or other entity. 
 PSP1 means the Payroll Support Program established under Division A, Title IV, Subtitle B of the Coronavirus Aid, Relief, and
Economic Security Act (Pub. L. No. 116-136). 
 PSP2 means the Payroll Support Program Extension
established under Subtitle A of Title IV of Division N of the Consolidated Appropriations Act, 2021. 
 Recipient means, collectively, the Signatory
Entity; its Affiliates that are listed on the signature page hereto as Additional Recipients; and their respective heirs, executors, administrators, successors, and assigns. 

Salary means, without duplication of any amounts counted as Benefits, a predetermined regular payment, typically paid on a weekly or less frequent
basis but which may be expressed as an hourly, weekly, annual or other rate, as well as cost-of-living differentials, vacation time, paid time off, sick leave, and
overtime pay, paid by the Recipient to its Employees, but excluding any Federal, state, or local payroll taxes paid by the Recipient. 
 Secretary
means the Secretary of the Treasury. 
 Severance Pay or Other Benefits means any severance payment or other similar benefits, including cash
payments, health care benefits, perquisites, the enhancement or acceleration of the payment or vesting of any payment or benefit or any other in-kind benefit payable (whether in lump sum or over time,
including after October 1, 2022) by the Recipient to a Corporate Officer or Employee in connection with any termination of such Corporate Officer’s or Employee’s employment (including, without limitation, resignation, severance,
retirement, or constructive termination), which shall be determined and calculated in respect of any Employee or Corporate Officer of the Recipient in the manner prescribed in 17 CFR 229.402(j) (without regard to its limitation to the five most
highly compensated executives and using the actual date of termination of employment rather than the last business day of the Recipient’s last completed fiscal year as the trigger event). 

  
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 Signatory Entity means the passenger air carrier or contractor that has entered into this Agreement.

 Taxpayer Protection Instruments means warrants, options, preferred stock, debt securities, notes, or other financial instruments issued by the
Recipient or an Affiliate to Treasury as compensation for the Payroll Support under this Agreement, if applicable. 
 Total Compensation means
compensation including salary, wages, bonuses, awards of stock, and any other financial benefits provided by the Recipient or an Affiliate, as applicable, which shall be determined and calculated for the 2019 calendar year or any applicable 12-month period in respect of any Employee or Corporate Officer of the Recipient in the manner prescribed under paragraph e.6 of the award term in 2 CFR part 170, App. A, but excluding any Severance Pay or Other
Benefits in connection with a termination of employment. 
 Wage means, without duplication of any amounts counted as Benefits, a payment, typically
paid on an hourly, daily, or piecework basis, including cost-of-living differentials, vacation, paid time off, sick leave, and overtime pay, paid by the Recipient to its
Employees, but excluding any Federal, state, or local payroll taxes paid by the Recipient. 
 PAYROLL SUPPORT PAYMENTS 

 

	 	1.	 Upon the execution of this Agreement by Treasury and the Recipient, the Secretary shall approve the Recipient
to receive Payroll Support. 

  

	 	2.	 The Recipient may receive Payroll Support in multiple payments up to the Maximum Awardable Amount, and the
amounts (individually and in the aggregate) and timing of such payments will be determined by the Secretary in her sole discretion. The Secretary may, in her sole discretion, increase or reduce the Maximum Awardable Amount consistent with section
7301 of the ARP. 

  

	 	3.	 The Secretary may determine in her sole discretion that any Payroll Support shall be conditioned on, and
subject to, compliance by the Recipient with all applicable requirements under (a) PSP2 and (b) PSP1 if the Recipient received financial assistance in PSP1, and such additional terms and conditions (including the receipt of, and any terms
regarding, Taxpayer Protection Instruments) to which the parties may agree in writing. 

 TERMS AND CONDITIONS 

Retaining and Paying Employees 
  

	 	4.	 The Recipient shall use the Payroll Support exclusively for the continuation of payment of Wages, Salaries, and
Benefits to the Employees of the Recipient. 

  

	 	a.	 Furloughs and Layoffs. The Recipient shall not conduct an Involuntary Termination or Furlough of any
Employee between the date of this Agreement and September 30, 2021 or the date on which the Recipient has expended all of the Payroll Support, whichever is later. 

  
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	 	b.	 Employee Salary, Wages, and Benefits 

 

	 	i.	 Salary and Wages. Except in the case of a Permitted Termination or Furlough, the Recipient shall not,
between the date of this Agreement and September 30, 2021 or the date on which the Recipient has expended all of the Payroll Support, whichever is later, (A) the pay rate of any Employee earning a Salary, or (B) the pay rate of any
Employee earning Wages. 

  

	 	ii.	 Benefits. Except in the case of a Permitted Termination or Furlough, the Recipient shall not, between
the date of this Agreement and September 30, 2021 or the date on which the Recipient has expended all of the Payroll Support, whichever is later, reduce, without the Employee’s consent, the Benefits of any Employee; provided, however, that
for purposes of this paragraph, personnel expenses associated with the performance of work duties, including those described in line 10 of Financial Reporting Schedule P-6, Form 41, as published by the
Department of Transportation, may be reduced to the extent the associated work duties are not performed. 

 Dividends and Buybacks

  

	 	5.	 Through September 30, 2022, neither the Recipient nor any Affiliate shall, in any transaction, purchase an
equity security of the Recipient or of any direct or indirect parent company of the Recipient that, in either case, is listed on a national securities exchange. 

 

	 	6.	 Through September 30, 2022, the Recipient shall not pay dividends, or make any other capital
distributions, with respect to the common stock (or equivalent equity interest) of the Recipient. 

 Limitations on Certain
Compensation 
  

	 	7.	 Beginning April 1, 2021, and ending April 1, 2023, the Recipient and its Affiliates shall not pay any
of the Recipient’s Corporate Officers or Employees whose Total Compensation exceeded $425,000 in calendar year 2019 (other than an Employee whose compensation is determined through an existing collective bargaining agreement entered into before
March 11, 2021): 

  

	 	a.	 Total Compensation which exceeds, during any 12 consecutive months of such
two-year period, the Total Compensation the Corporate Officer or Employee received in calendar year 2019; or 

  

	 	b.	 Severance Pay or Other Benefits in connection with a termination of employment with the Recipient which exceed
twice the maximum Total Compensation received by such Corporate Officer or Employee in calendar year 2019. 

  

	 	8.	 Beginning April 1, 2021, and ending April 1, 2023, the Recipient and its Affiliates shall not pay,
during any 12 consecutive months of such two-year period, any of the Recipient’s Corporate Officers or Employees whose Total Compensation exceeded $3,000,000 in calendar year 2019 Total Compensation in
excess of the sum of: 

  

	 	a.	 $3,000,000; and 

  
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	 	b.	 50 percent of the excess over $3,000,000 of the Total Compensation received by such Corporate Officer or
Employee in calendar year 2019. 

  

	 	9.	 For purposes of determining applicable amounts under paragraphs 7 and 8 with respect to any Corporate Officer
or Employee who was employed by the Recipient or an Affiliate for less than all of calendar year 2019, the amount of Total Compensation in calendar year 2019 shall mean such Corporate Officer’s or Employee’s Total Compensation on an
annualized basis. 

 Service and Eligibility 
  

	 	10.1.	 If the Recipient is an air carrier, until March 1, 2022, the Recipient shall comply with any applicable
requirement issued by the Secretary of Transportation under section 407 of the PSP Extension Law to maintain scheduled air transportation service to any point served by the Recipient before March 1, 2020. 

 

	 	10.2.	 The Recipient represents, warrants, and certifies that as of March 31, 2021, the Recipient:

  

	 	a.	 provided air transportation as an air carrier, as defined under 49 U.S.C. § 40102; or

  

	 	b.	 (i) performed, under contract with a passenger air carrier conducting operations under 14 CFR part 121,
(A) catering functions; or (B) functions on the property of an airport that were directly related to the air transportation of persons, property, or mail, including the loading and unloading of property on aircraft, assistance to passengers
under 14 CFR part 382, security, airport ticketing and check-in functions, groundhandling of aircraft, or aircraft cleaning and sanitization functions and waste removal; or (ii) was a subcontractor that
performed such functions. 

  

	 	10.3.	 The Recipient represents, warrants, and certifies that between March 31, 2021, and the effective date of
this Agreement, it has not: 

  

	 	a.	 conducted an Involuntary Termination or Furlough; 

 

	 	b.	 reduced, without the Employee’s consent, (i) the pay rate of any Employee earning a Salary, or
(ii) the pay rate of any Employee earning Wages; or 

  

	 	c.	 except in the case of a Permitted Termination or Furlough, reduced, without Employee’s consent, the
Benefits of any Employee (provided, however, that for purposes of this subparagraph, personnel expenses associated with the performance of work duties, including those described in line 10 of Financial Reporting Schedule P-6, Form 41, as published by the Department of Transportation, may be reduced to the extent the associated work duties are not performed). 

Effective Date 
  

	 	11.	 This Agreement shall be effective as of the date of its execution by both parties. 

Reporting and Auditing 
  

	 	12.	 Until the calendar quarter that begins after the later of January 1, 2023, and the date on which no
Taxpayer Protection Instrument is outstanding, not later than 45 days after the end of each 

  
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of the first three calendar quarters of each calendar year and 90 days after the end of each calendar year, the Signatory Entity, on behalf of itself and each other Recipient, shall certify to
Treasury that it is in compliance with the terms and conditions of this Agreement and provide a report containing the following: 

  

	 	a.	 the amount of Payroll Support funds expended during such quarter; 

 

	 	b.	 the Recipient’s financial statements (audited by an independent certified public accountant, in the case
of annual financial statements); 

  

	 	c.	 a copy of the Recipient’s IRS Form 941 filed with respect to such quarter; and 

 

	 	d.	 a detailed summary describing, with respect to the Recipient, (a) any changes in Employee headcount during
such quarter and the reasons therefor, including any Involuntary Termination or Furlough, (b) any changes in the amounts spent by the Recipient on Employee Wages, Salary, and Benefits during such quarter, and (c) any changes in Total
Compensation for, and any Severance Pay or Other Benefits in connection with the termination of, Corporate Officers and Employees subject to limitation under this Agreement during such quarter; and the reasons for any such changes.

  

	 	13.	 If the Recipient or any Affiliate, or any Corporate Officer of the Recipient or any Affiliate, becomes aware of
facts, events, or circumstances that may materially affect the Recipient’s compliance with the terms and conditions of this Agreement, the Recipient or Affiliate shall promptly provide Treasury with a written description of the events or
circumstances and any action taken, or contemplated, to address the issue. 

  

	 	14.	 In the event the Recipient contemplates any action to commence a bankruptcy or insolvency proceeding in any
jurisdiction, the Recipient shall promptly notify Treasury. 

  

	 	15.	 The Recipient shall: 

 

	 	a.	 Promptly provide to Treasury and the Treasury Inspector General a copy of any Department of Transportation
Inspector General report, audit report, or report of any other oversight body, that is received by the Recipient relating to this Agreement. 

  

	 	b.	 Immediately notify Treasury and the Treasury Inspector General of any indication of fraud, waste, abuse, or
potentially criminal activity pertaining to the Payroll Support. 

  

	 	c.	 Promptly provide Treasury with any information Treasury may request relating to compliance by the Recipient and
its Affiliates with this Agreement. 

  

	 	16.	 The Recipient and Affiliates will provide Treasury, the Treasury Inspector General, and such other entities as
authorized by Treasury timely and unrestricted access to all documents, papers, or other records, including electronic records, of the Recipient related to the Payroll Support, to enable Treasury and the Treasury Inspector General to make audits,
examinations, and otherwise evaluate the Recipient’s compliance with the terms of this Agreement. This right also includes timely and reasonable access to the Recipient’s and its Affiliates’ personnel for the purpose of interview and
discussion related to such documents. This right of access shall continue as long as records are required to be retained. In addition, 

  
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the Recipient will provide timely reports as reasonably required by Treasury, the Treasury Inspector General, and such other entities as authorized by Treasury to comply with applicable law and
to assess program effectiveness. 

 Recordkeeping and Internal Controls 

 

	 	17.	 If the Recipient is a debtor as defined under 11 U.S.C. § 101(13), the Payroll Support funds, any claim or
account receivable arising under this Agreement, and any segregated account holding funds received under this Agreement shall not constitute or become property of the estate under 11 U.S.C. § 541. 

 

	 	18.	 The Recipient shall expend and account for Payroll Support funds in a manner sufficient to:

  

	 	a.	 Permit the preparation of accurate, current, and complete quarterly reports as required under this Agreement.

  

	 	b.	 Permit the tracing of funds to a level of expenditures adequate to establish that such funds have been used as
required under this Agreement. 

  

	 	19.	 The Recipient shall establish and maintain effective internal controls over the Payroll Support; comply with
all requirements related to the Payroll Support established under applicable Federal statutes and regulations; monitor compliance with Federal statutes, regulations, and the terms and conditions of this Agreement; and take prompt corrective actions
in accordance with audit recommendations. The Recipient shall promptly remedy any identified instances of noncompliance with this Agreement. 

  

	 	20.	 The Recipient and Affiliates shall retain all records pertinent to the receipt of Payroll Support and
compliance with the terms and conditions of this Agreement (including by suspending any automatic deletion functions for electronic records, including e-mails) for a period of three years following the period
of performance. Such records shall include all information necessary to substantiate factual representations made in the supporting documents submitted by the Recipient related to the Payroll Support, including ledgers and sub-ledgers, and the Recipient’s and Affiliates’ compliance with this Agreement. While electronic storage of records (backed up as appropriate) is preferable, the Recipient and Affiliates may store records
in hardcopy (paper) format. The term “records” includes all relevant financial and accounting records and all supporting documentation for the information reported on the Recipient’s quarterly reports. 

 

	 	21.	 If any litigation, claim, investigation, or audit relating to the Payroll Support is started before the
expiration of the three-year period, the Recipient and Affiliates shall retain all records described in paragraph 20 until all such litigation, claims, investigations, or audit findings have been completely resolved and final judgment entered or
final action taken. 

 Remedies 
  

	 	22.	 If Treasury believes that an instance of noncompliance by the Recipient or an Affiliate with (a) this
Agreement, (b) section 7301 of the ARP, or (c) the Internal Revenue Code of 1986 as it applies to the receipt of Payroll Support has occurred, Treasury may notify the Recipient in writing of its proposed determination of noncompliance,
provide an explanation of the nature 

  
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of the noncompliance, and specify a proposed remedy. Upon receipt of such notice, the Recipient shall, within seven days, accept Treasury’s proposed remedy, propose an alternative remedy, or
provide information and documentation contesting Treasury’s proposed determination. Treasury shall consider any such submission by the Recipient and make a final written determination, which will state Treasury’s findings regarding
noncompliance and the remedy to be imposed. 

  

	 	23.	 If Treasury makes a final determination under paragraph 22 that an instance of noncompliance has occurred,
Treasury may, in its sole discretion, withhold any Additional Payroll Support Payments; require the repayment of the amount of any previously disbursed Payroll Support, with appropriate interest; require additional reporting or monitoring; initiate
suspension or debarment proceedings as authorized under 2 CFR Part 180; terminate this Agreement; or take any such other action as Treasury, in its sole discretion, deems appropriate. 

 

	 	24.	 Treasury may make a final determination regarding noncompliance without regard to paragraph 22 if Treasury
determines, in its sole discretion, that such determination is necessary to protect a material interest of the Federal Government. In such event, Treasury shall notify the Recipient of the remedy that Treasury, in its sole discretion, shall impose,
after which the Recipient may contest Treasury’s final determination or propose an alternative remedy in writing to Treasury. Following the receipt of such a submission by the Recipient, Treasury may, in its sole discretion, maintain or alter
its final determination. 

  

	 	25.	 Any final determination of noncompliance and any final determination to take any remedial action described
herein shall not be subject to further review. To the extent permitted by law, the Recipient waives any right to judicial review of any such determinations and further agrees not to assert in any court any claim arising from or relating to any such
determination or remedial action. 

  

	 	26.	 Instead of, or in addition to, the remedies listed above, Treasury may refer any noncompliance or any
allegations of fraud, waste, or abuse to the Treasury Inspector General. 

  

	 	27.	 Treasury, in its sole discretion, may grant any request by the Recipient for termination of this Agreement,
which such request shall be in writing and shall include the reasons for such termination, the proposed effective date of the termination, and the amount of any unused Payroll Support funds the Recipient requests to return to Treasury. Treasury may,
in its sole discretion, determine the extent to which the requirements under this Agreement may cease to apply following any such termination. 

  

	 	28.	 If Treasury determines that any remaining portion of the Payroll Support will not accomplish the purpose of
this Agreement, Treasury may terminate this Agreement in its entirety to the extent permitted by law. 

 Debts 

 

	 	29.	 Any Payroll Support in excess of the amount which Treasury determines, at any time, the Recipient is authorized
to receive or retain under the terms of this Agreement constitutes a debt to the Federal Government. 

  
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	 	30.	 Any debts determined to be owed by the Recipient to the Federal Government shall be paid promptly by the
Recipient. A debt is delinquent if it has not been paid by the date specified in Treasury’s initial written demand for payment, unless other satisfactory arrangements have been made. Interest, penalties, and administrative charges shall be
charged on delinquent debts in accordance with 31 U.S.C. § 3717, 31 CFR 901.9, and paragraphs 31 and 32. Treasury will refer any debt that is more than 180 days delinquent to Treasury’s Bureau of the Fiscal Service for debt collection
services. 

  

	 	31.	 Penalties on any debts shall accrue at a rate of not more than 6 percent per year or such other higher
rate as authorized by law. 

  

	 	32.	 Administrative charges relating to the costs of processing and handling a delinquent debt shall be determined
by Treasury. 

  

	 	33.	 The Recipient shall not use funds from other federally sponsored programs to pay a debt to the government
arising under this Agreement. 

 Protections for Whistleblowers 

 

	 	34.	 In .addition to other applicable whistleblower protections, in accordance with 41 U.S.C. § 4712, the
Recipient shall not discharge, demote, or otherwise discriminate against an Employee as a reprisal for disclosing information to a Person listed below that the Employee reasonably believes is evidence of gross mismanagement of a Federal contract or
grant, a gross waste of Federal funds, an abuse of authority relating to a Federal contract or grant, a substantial and specific danger to public health or safety, or a violation of law, rule, or regulation related to a Federal contract (including
the competition for or negotiation of a contract) or grant: 

  

	 	a.	 A Member of Congress or a representative of a committee of Congress; 

 

	 	b.	 An Inspector General; 

 

	 	c.	 The Government Accountability Office; 

 

	 	d.	 A Treasury employee responsible for contract or grant oversight or management; 

 

	 	e.	 An authorized official of the Department of Justice or other law enforcement agency; 

 

	 	f.	 A court or grand jury; or 

 

	 	g.	 A management official or other Employee of the Recipient who has the responsibility to investigate, discover,
or address misconduct. 

 Lobbying 
  

	 	35.	 The Recipient shall comply with the provisions of 31 U.S.C. § 1352, as amended, and with the regulations
at 31 CFR Part 21. 

  
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 Non-Discrimination 

 

	 	36.	 The Recipient shall comply with, and hereby assures that it will comply with, all applicable Federal statutes
and regulations relating to nondiscrimination including: 

  

	 	a.	 Title VI of the Civil Rights Act of 1964 (42 U.S.C. § 2000d et seq.), including Treasury’s
implementing regulations at 31 CFR Part 22; 

  

	 	b.	 Section 504 of the Rehabilitation Act of 1973, as amended (29 U.S.C. § 794); 

 

	 	c.	 The Age Discrimination Act of 1975, as amended (42 U.S.C. §§ 6101-6107), including Treasury’s
implementing regulations at 31 CFR Part 23 and the general age discrimination regulations at 45 CFR Part 90; and 

  

	 	d.	 The Air Carrier Access Act of 1986 (49 U.S.C. § 41705). 

Additional Reporting 
  

	 	37.	 Within seven days after the date of this Agreement, the Recipient shall register in SAM.gov, and thereafter
maintain the currency of the information in SAM.gov until at least January 1, 2023. The Recipient shall review and update such information at least annually after the initial registration, and more frequently if required by changes in the
Recipient’s information. The Recipient agrees that this Agreement and information related thereto, including the Maximum Awardable Amount and any executive total compensation reported pursuant to paragraph 38, may be made available to the
public through a U.S. Government website, including SAM.gov. 

  

	 	38.	 For purposes of paragraph 37, the Recipient shall report total compensation as defined in paragraph e.6 of the
award term in 2 CFR part 170, App. A for each of the Recipient’s five most highly compensated executives for the preceding completed fiscal year, if: 

  

	 	a.	 the total Payroll Support is $25,000 or more; 

 

	 	b.	 in the preceding fiscal year, the Recipient received: 

 

	 	i.	 80 percent or more of its annual gross revenues from Federal procurement contracts (and subcontracts) and
Federal financial assistance, as defined at 2 CFR 170.320 (and subawards); and 

  

	 	ii.	 $25,000,000 or more in annual gross revenues from Federal procurement contracts (and subcontracts) and Federal
financial assistance, as defined at 2 CFR 170.320 (and subawards); and 

  

	 	c.	 the public does not have access to information about the compensation of the executives through periodic
reports filed under section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a), 78o(d)) or section 6104 of the Internal Revenue Code of 1986. To determine if the public has access to the compensation information, the Recipient
shall refer to U.S. Securities and Exchange Commission total compensation filings at hap://www.sec.gov/answers/execomp.htm. 

  
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	 	39.	 The Recipient shall report executive total compensation described in paragraph 38: 

 

	 	a.	 as part of its registration profile at https://www.sam.gov; and 

 

	 	b.	 within five business days after the end of each month following the month in which this Agreement becomes
effective, and annually thereafter. 

  

	 	40.	 The Recipient agrees that, from time to time, it will, at its own expense, promptly upon reasonable request by
Treasury, execute and deliver, or cause to be executed and delivered, or use its commercially reasonable efforts to procure, all instruments, documents and information, all in form and substance reasonably satisfactory to Treasury, to enable
Treasury to ensure compliance with, or effect the purposes of, this Agreement, which may include, among other documents or information, (a) certain audited financial statements of the Recipient, (b) documentation regarding the
Recipient’s revenues derived from its business as a passenger air carrier or regarding the passenger air carriers for which the Recipient provides services as a contractor (as the case may be), and (c) the Recipient’s most recent
quarterly Federal tax returns. The Recipient agrees to provide Treasury with such documents or information promptly. 

  

	 	41.	 If the total value of the Recipient’s currently active grants, cooperative agreements, and procurement
contracts from all Federal awarding agencies exceeds $10,000,000 for any period before termination of this Agreement, then the Recipient shall make such reports as required by 2 CFR part 200, Appendix XII. 

Other 
  

	 	42.	 [Reserved] 

  

	 	43.	 Notwithstanding any other provision of this Agreement, the Recipient has no right to, and shall not, transfer,
pledge, mortgage, encumber, or otherwise assign this Agreement or any Payroll Support provided under this Agreement, or any interest therein, or any claim, account receivable, or funds arising thereunder or accounts holding Payroll Support, to any
party, bank, trust company, or other Person without the express written approval of Treasury. 

  

	 	44.	 The Signatory Entity will cause its Affiliates to comply with all of their obligations under or relating to
this Agreement. 

  

	 	45.	 Unless otherwise provided in guidance issued by Treasury or the Internal Revenue Service, the form of any
Taxpayer Protection Instrument held by Treasury and any subsequent holder will be treated as such form for purposes of the Internal Revenue Code of 1986 (for example, a Taxpayer Protection Instrument in the form of a note will be treated as
indebtedness for purposes of the Internal Revenue Code of 1986). 

  

	 	46.	 This Agreement may not be amended or modified except pursuant to an agreement in writing entered into by the
Recipient and Treasury, except that Treasury may unilaterally amend this Agreement if required in order to comply with applicable Federal law or regulation. 

  

	 	47.	 Subject to applicable law, Treasury may, in its sole discretion, waive any term or condition under this
Agreement imposing a requirement on the Recipient or any Affiliate. 

  
 12 

	 	48.	 This Agreement shall bind and inure to the benefit of the parties and their respective heirs, executors,
administrators, successors, and assigns. 

  

	 	49.	 The Recipient represents and warrants to Treasury that this Agreement, and the issuance and delivery to
Treasury of the Taxpayer Protection Instruments, if applicable, have been duly authorized by all requisite corporate and, if required, stockholder action, and will not result in the violation by the Recipient of any provision of law, statute, or
regulation, or of the articles of incorporation or other constitutive documents or bylaws of the Recipient, or breach or constitute an event of default under any material contract to which the Recipient is a party. 

 

	 	50.	 The Recipient represents and warrants to Treasury that this Agreement has been duly executed and delivered by
the Recipient and constitutes a legal, valid, and binding obligation of the Recipient enforceable against the Recipient in accordance with its terms. 

  

	 	51.	 This Agreement may be executed in counterparts, each of which shall constitute an original, but all of which
together shall constitute a single contract. 

  

	 	52.	 The words “execution,” “signed,” “signature,” and words of like import in any
assignment shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based
recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any
other similar state laws based on the Uniform Electronic Transactions Act. Notwithstanding anything herein to the contrary, delivery of an executed counterpart of a signature page of this Agreement by electronic means, or confirmation of the
execution of this Agreement on behalf of a party by an email from an authorized signatory of such party, shall be effective as delivery of a manually executed counterpart of this Agreement. 

 

	 	53.	 The captions and paragraph headings appearing herein are included solely for convenience of reference and are
not intended to affect the interpretation of any provision of this Agreement. 

  

	 	54.	 This Agreement is governed by and shall be construed in accordance with Federal law. Insofar as there may be no
applicable Federal law, this Agreement shall be construed in accordance with the laws of the State of New York, without regard to any rule of conflicts of law (other than section 5-1401 of the New York General
Obligations Law) that would result in the application of the substantive law of any jurisdiction other than the State of New York. 

  

	 	55.	 Nothing in this Agreement shall require any unlawful action or inaction by either party. 

 

	 	56.	 The requirement pertaining to trafficking in persons at 2 CFR 175.15(b) is incorporated herein and made
applicable to the Recipient. 

  

	 	57.	 This Agreement, together with the attachments hereto, including the Payroll Support Program 3 Certification and
any attached terms regarding Taxpayer Protection Instruments, constitute the entire agreement of the parties relating to the subject matter hereof and supersede any previous agreements and understandings, oral or written, relating to the subject
matter hereof. 

  
 13 

 There may exist other agreements between the parties as to other matters, which are not
affected by this Agreement and are not included within this integration clause. 
  

	 	58.	 No failure by either party to insist upon the strict performance of any provision of this Agreement or to
exercise any right or remedy hereunder, and no acceptance of full or partial Payroll Support (if applicable) or other performance by either party during the continuance of any such breach, shall constitute a waiver of any such breach of such
provision. 

  
 14 

 ATTACHMENT 

Payroll Support Program 3 Certification of Corporate Officer of Recipient 

  
 15 

 PAYROLL SUPPORT PROGRAM 3 

CERTIFICATION OF CORPORATE OFFICER OF RECIPIENT 

In connection with the Payroll Support Program 3 Agreement (Agreement) between Air Wisconsin Airlines LLC and the Department of the Treasury (Treasury)
relating to Payroll Support being provided by Treasury to the Recipient under section 7301 of the American Rescue Plan Act of 2021, I hereby certify under penalty of perjury to the Treasury that all of the following are true and correct. Capitalized
terms used but not defined herein have the meanings set forth in the Agreement. 
 (1) I have the authority to make the
following representations on behalf of myself and the Recipient. I understand that these representations will be relied upon as material in the decision by Treasury to provide Payroll Support to the Recipient. 

(2) The information, certifications, attachments, and other information provided by the Recipient to Treasury related to the
Payroll Support are true and correct and do not contain any materially false, fictitious, or fraudulent statement, nor any concealment or omission of any material fact. 

(3) The Recipient has the legal authority to apply for the Payroll Support, and it has the institutional, managerial, and
financial capability to comply with all obligations, terms, and conditions set forth in the Agreement and any attachment thereto. 

(4) The Recipient and any Affiliate will give Treasury, Treasury’s designee or the Treasury Office of Inspector General
(as applicable) access to, and opportunity to examine, all documents, papers, or other records of the Recipient or Affiliate pertinent to the provision of Payroll Support made by Treasury to the Recipient, in order to make audits, examinations,
excerpts, and transcripts. 
 (5) No Federal appropriated funds, including Payroll Support, have been paid or will be paid,
by or on behalf of the Recipient, to any person for influencing or attempting to influence an officer or employee of an agency, a Member of Congress, an officer or employee of Congress, or an employee of a Member of Congress in connection with the
awarding of any Federal contract, the making of any Federal grant, the making of any Federal loan, the entering into of any cooperative agreement, and the extension, continuation, renewal, amendment, or modification of any Federal contract, grant,
loan, or cooperative agreement. 
 (6) If the Payroll Support exceeds $100,000, the Recipient shall comply with the
disclosure requirements in 31 CFR Part 21 regarding any amounts paid for influencing or attempting to influence an officer or employee of any agency, a Member of Congress, an officer or employee of Congress, or an employee of a Member of Congress in
connection with the Payroll Support. 

  
 16 

 I acknowledge that a materially false, fictitious, or fraudulent statement (or concealment or omission of
a material fact) in this certification may be the subject of criminal prosecution and also may subject me and the Recipient to civil penalties and/or administrative remedies for false claims or otherwise. 

 

			
	 /s/ Robert Binns
	  	 /s/ Gregg Garvey

		
	First Authorized Representative	  	Second Authorized Representative
		
	Name: Robert Binns	  	Name: Gregg Garvey
		
	Title: President & CEO	  	Title: SVP, Chief Accounting Officer & Treasurer
		
	Date: 4/19/2021	  	Date: 4/19/2021

  
 17EXHIBIT 4.2
Description of Securities
GREENCITY ACQUISITION CORPORATION
The following summary of the securities of Greencity Acquisition Corporation is qualified and based on the company’s Amended and Restated Memorandum and Articles of Association and the Warrant Agreement dated as of July 23, 2020 with continental Stock Transfer & Trust Company, both of which have been filed as exhibits to the is Form 10-K/A or have been incorporated by reference.
Pursuant to our amended and restated memorandum and articles of association which will be adopted upon the consummation of this offering, we will be authorized to issue 100,000,000 ordinary shares, $0.0001 par value each, and 1,000,000 undesignated preference shares, $0.0001 par value each.
The registration statement for our initial public offering was declared effective by the Securities and Exchange Commission on July 23, 2020. We completed our initial public offering on July 28, 2020. In our initial public offering, we sold units at an offering price of $10.00 and consisting of one ordinary share and one redeemable warrant. Each warrant entitles the holder thereof to purchase one-half of one ordinary share. We will not issue fractional shares in connection with the exercise of the warrants. As a result, a warrant holder must exercise warrants in multiples of two warrants, at a price of $11.50 per full share, subject to adjustment as described in our prospectus dated as of July 23, 2020 as filed with the Securities and Exchange Commission on July 24, 2020. Each warrant will become exercisable on the later of the completion of an initial business combination and 12 months from July 23, 2020, and will expire five years after the completion of an initial business combination, or earlier upon redemption.
Market Information
Our units, ordinary shares and warrants are listed for trading on the NASDAQ Capital Market, or NASDAQ, under the symbol “GRCYU”, “GRCY” and “GRCYW”, respectively.
Units
We have issued and outstanding an aggregate of 4,260,000 units. The trading symbol for the units is GRCYU. Units at an offering price of $10.00 and consisting of one ordinary share and one redeemable warrant to purchase one-half of one ordinary share. The holders of units have no voting rights.
​

Ordinary Shares
As of March 30, 2021, there are 5,260,000 ordinary shares issued and outstanding. Ordinary shareholders of record are entitled to one vote for each share held on all matters to be voted on by shareholders and vote together as a single class, except as required by law. Unless specified in the Companies Law, our amended and restated memorandum and articles of association or applicable stock exchange rules, the affirmative vote of a majority of our ordinary shares that are voted is required to approve any such matter voted on by our shareholders. Approval of certain actions will require a special resolution under Cayman Islands law and pursuant to our amended and restated memorandum and articles of association; such actions include amending our amended and restated memorandum and articles of association and approving a statutory merger or consolidation with another company. Directors are elected for a term of two years. There is no cumulative voting with respect to the election of directors, with the result that the holders of more than 50% of the founder shares voted for the election of directors can elect all of the directors. Our shareholders are entitled to receive ratable dividends when, as and if declared by the Board of Directors out of funds legally available therefor.
We will provide our public shareholders with the opportunity to redeem all or a portion of their public shares upon the completion of our initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account as of two business days prior to the consummation of our initial business combination, including interest (which interest shall be net of taxes payable) divided by the number of then issued and outstanding public shares, subject to the limitations described herein. The amount in the trust account is initially anticipated to be approximately $10.15 per public share (subject to increase of up to an additional $0.30 per public share in the event that our sponsor elects to extend the period of time to consummate a business combination.
Pursuant to our amended and restated memorandum and articles of association, if we are unable to complete our initial business combination within 12 months from the closing of this offering (or up to 21 months from the closing of this offering if we extend the period of time to consummate a business combination, as described in more detail in this prospectus), we will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten business days thereafter, subject to lawfully available funds therefor, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest (which interest shall be net of taxes payable and less up to $50,000 of interest to pay dissolution expenses) divided by the number of then issued and outstanding public shares, which redemption will completely extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our Board of Directors, liquidate and dissolve, subject in each case to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law.
​

Warrants
Each warrant entitles the registered holder to purchase one-half of one ordinary share at a price of $11.50 per share, subject to adjustment as discussed below, at any time commencing on the later of 12 months from the date of this prospectus or the completion of our initial business combination. Because the warrants may only be exercised for whole numbers of shares, only an even number of warrants may be exercised at any given time. Pursuant to the warrant agreement, a warrantholder may exercise its warrants only for a whole number of shares. This means that only an even number of warrants may be exercised at any given time by a warrantholder. The warrants will expire five years after the completion of our initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.
We will not be obligated to deliver any ordinary shares pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless a registration statement under the Securities Act with respect to the ordinary shares underlying the warrants is then effective and a prospectus relating thereto is current, subject to our satisfying our obligations described below with respect to registration. No warrant will be exercisable for cash or on a cashless basis, and we will not be obligated to issue any shares to holders seeking to exercise their warrants, unless the issuance of the shares upon such exercise is registered or qualified under the securities laws of the state of the exercising holder, or an exemption is available. In the event that the conditions in the two immediately preceding sentences are not satisfied with respect to a warrant, the holder of such warrant will not be entitled to exercise such warrant and such warrant may have no value and expire worthless.
Once the warrants become exercisable, we may call the warrants for redemption (excluding the private placement warrants but including any outstanding warrants issued upon exercise of the unit purchase option issued to the underwriters or their designees):
●in whole and not in part;
●at a price of $0.01 per warrant;
●upon not less than 30 days’ prior written notice of redemption (the “30-day redemption period”) to each warrant holder; and
●if, and only if, the reported last sale price of the ordinary shares equal or exceed $16.50 per share (as adjusted for share splits, share capitalizations, rights issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date we send to the notice of redemption to the warrant holders.
If we call the warrants for redemption as described above, our management will have the option to require any holder that wishes to exercise his, her or its warrant to do so on a “cashless basis.” In determining whether to require all holders to exercise their warrants on a “cashless basis,” our management will consider, among other factors, our cash position, the number of warrants that are outstanding and the dilutive effect on our shareholders of issuing the maximum number of ordinary shares issuable upon the exercise of our warrants. If our management takes advantage of this option, all holders of warrants would pay the exercise price by surrendering their warrants for that number of ordinary shares equal to the quotient obtained by dividing (x) the product of the number of ordinary shares underlying the warrants, multiplied by the excess of the “fair market value” (defined below) over the exercise price of the warrants by (y) the fair market value. The “fair market value” shall mean the average reported last sale price of the ordinary shares for the 10 trading days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of warrants.

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