Document:

Exhibit
10.23

 

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

 

January 7,
2021

 

Confidential

 

Via Electronic
Mail

 

BLADE Urban
Air Mobility, Inc. Attn: Will Heyburn

499
East 34th Street

New York, NY 10016

Email: will@flyblade.com

 

Re:       Strategic
Alliance for Westchester County Airport Collaboration 

Dear Will:

 

This
strategic alliance ("Alliance") outlines the proposed terms for a shared hangar license agreement and a
proposed development of a vertiport at the Westchester County Airport in White Plains, New York (the
 "Airport") and certain other collaborative relationships between BLADE Urban Air Mobility, Inc.
("BLADE") and Ross Aviation Holdings, LLC and its wholly-owned subsidiary HPN NY Holdings, LLC, dba Ross
Aviation - White Plains ("Ross Aviation"). Upon acceptance of this Alliance, the parties will immediately
begin working together to establish a Hangar Agreement (as defined below) and any other definitive agreements covering the
terms below.

 

		1.	Hangar
                                         Space and Kiosk: Ross Aviation will provide an operator designated by BLADE (the
                                         "Operator") with space in its T-Hangar located at 67
                                         Tower Road, West Harrison, NY 10604
                                         for storage of its Bell 407
                                         helicopter, provided that the crew will be responsible for folding its blades
                                         in a parallel fashion, pursuant to the terms of a Shared Hangar License Agreement to
                                         be entered into by the Operator and Ross Aviation (the "Hangar Agreement").
                                         Ross Aviation will also provide dedicated lobby space (~15
                                         square feet) at Ross Aviation West at no additional charge for a BLADE kiosk that
                                         will be provided and staffed by BLADE. BLADE Flyers will have shared use of the lobby
                                         space and common guest reception areas. The Hangar Agreement will include the following
                                         terms:
	 	 	 

		a.	License
                                         Fee: Monthly license fee of [*****];
                                         subject to adjustment in renewal terms based on TTM Sales Fees
	 	 	 

		b.	Fuel:
                                         Fuel pricing at [*****].
	 	 	 

		c.	Handling
                                         Fees: Handling fees of [*****]
                                         per operation (waived with minimum fuel purchase of [*****]
                                         gallons), for any towing / ground movement operations or if BLADE is unable to
                                         service and handle without support from Ross Aviation.
	 	 	 

		d.	Landing
                                         Fees: Landing fees of [*****]
                                         per operation (required by County and subject to change)
	 	 	 

		e.	Security
                                         Fees: No additional security fees will be imposed.

 

3200 Cherry Creek South Drive, Suite 670  •  Denver, CO 80209  •  Phone: (303) 830-7700

 

     

     

    

 

		f.	Sales
                                         Fees: BLADE will pay a Sales Fee to Ross Aviation calculated as [*****]
                                         of all gross revenues generated by Ross Aviation. BLADE will further pay a [*****]
                                         Sales Fee to Ross Aviation on a monthly basis on any BLADE ground transportation
                                         booked by Ross Aviation's based tenants, transient guests and Preferred Partners' customers.
                                         The Sales Fees will be paid monthly with accounting and documentation acceptable to Ross
                                         Aviation.
	 	 	 

		g.	Customer/Preferred
                                         Partner Benefits: BLADE will provide a [*****]
                                         discount off the lowest published rate or lowest rate offered to other HPN FBO
                                         customers for Ross Aviation's based tenants, transient guests, and Preferred Partners'
                                         (e.g., Flexjet, Jet Linx, Jet Aviation, Aircraft Services Group, Solairus Aviation) customers
                                         for BLADE helicopter services.
	 	 	 

		h.	BLADE
                                         Staff: BLADE will staff appropriately and will provide trained, safety sensitive
                                         and badged staff to handle all of its flyers' needs before and after each mission. BLADE
                                         will provide and pay all expenses for at least one (1) trained flight coordinator per
                                         arrival and departure operation to coordinate and execute services, including but not
                                         limited to: passenger greeting and check-in, luggage handling (on separate carts provided
                                         by Blade), ramp escort/transport, embarkation/disembarkation, vehicle valet parking fee
                                         coordination, catering/F&B handling, etc. Any Blade staff will be badged at BLADE's
                                         expense for AOA access and strictly adhere to Ross Aviation's and the Airport's safety
                                         protocols. Blade's staff will communicate constantly with Ross Aviation team members
                                         and take direction from Ross Aviation management on all matters related to safety. Blade's
                                         onsite service and amenities are intended to enhance, not infringe upon, Ross Aviation's
                                         flight hospitality services for its guests. Ross Aviation will handle all technical and
                                         ground service aircraft operations such as fueling, marshalling, parking, towing, and
                                         hangar operations.
	 	 	 

		i.	Vehicle
                                         Valet Parking: If self-parking is not available to BLADE passengers, or if parking
                                         is expected to be constrained or vehicles otherwise need to be parked offsite, Ross Aviation
                                         will provide valet parking service at a cost to BLADE of [*****]
                                         per vehicle per day.
	 	 	 

		j.	Other:
                                         Additional taxes and government fees will be billed to BLADE as charged. Provided that
                                         the Operator of the Aircraft operates under a valid Part 135 Certificate or similar authorization,
                                         no additional approvals to operate as contemplated are expected. Exterior signage and
                                         employees' ramp access (i.e., badging) require Airport approval.
	 	 	 

		k.	Security
                                         Deposit: [*****]
	 	 	 

		I.	Aircraft:
                                         Bell 407 (operator to provide and maintain dolly and all other necessary equipment).
	 	 	 

		m.	Maintenance:
                                         As defined in the Hangar Agreement, to be allowed in the hangar space.
	 	 	 

		n.	Aircraft
                                         Ownership/ Control: A current operator selected by Blade Urban Mobility, Inc.

 

		2.	Charter:
                                         As soon as possible following the renovation contemplated in section 4(b) below,
                                         or as soon as practicable following the commencement of the Hangar Agreement (in the
                                         case of charters not requiring FBO access), BLADE will allow Ross Aviation East or West
                                         to handle all BLADE fixed-wing and rotor charter flights on the following terms:

 

3200 Cherry Creek South Drive, Suite 670  •  Denver, CO 80209  •  Phone: (303) 830-7700

 

     

     

    

 

		a.	FUEL:
                                         [*****] per gallon or
                                         as otherwise negotiated between Ross Aviation and charter operator
	 	 	 

		b.	HANDLING:
                                         Standard fuel minimums and handling fees apply
	 	 	 

		c.	LANDING
                                         FEES: [*****] per operation
                                         (per County and subject to change)
	 	 	 

		d.	SECURITY
                                         FEE: [*****] per operation

 

Fuel
rates and fees may be subject to existing agreements between Ross Aviation and operator.

 

		3.	Right
                                         of First Offer: BLADE will grant Ross Aviation a right of first offer on all potential
                                         management opportunities on BLADE acquired infrastructure in instances where BLADE is
                                         seeking third party management.
	 	 	 

		4.	Additional
                                         Agreements: The parties will agree to further collaborate as follows:
	 	 	 

		a.	BLADE
                                         will move all HPN flight operations to Ross Aviation by [*****]
                                         at preferred partner rates to be negotiated.
	 	 	 

		b.	Until
                                         the Ross Aviation West redevelopment project is approved and built ([*****]),
                                         BLADE may renovate up to [*****],
                                         subject to Ross Aviation's approval dedicated office/lobby space for BLADEone and Charter
                                         flight passenger handling at Ross Aviation West, based on space availability with direct
                                         tarmac access, subject to the terms and conditions of a separate sublease agreement to
                                         be entered into by and between BLADE and LESSOR. Space shall be co- branded "BLADE"
                                         and "Ross Aviation." The lobby and common areas will be serviced by both Ross
                                         Aviation and BLADE and available to all customers of Ross Aviation.

Anticipated Fall
2021 start.

 

		c.	BLADE
                                         will promote Ross Aviation to all customers as its preferred ground handler; Ross Aviation
                                         will promote BLADE as its preferred urban air mobility provider.
	 	 	 

		d.	Ross
                                         Aviation may bundle a BLADE "space available" benefit for based tenants for
                                         [*****] per year for unlimited helicopter shuttles for up to [*****] pax on commuter
                                         flights between HPN and Manhattan, based on availability, within 24 hours of scheduled
                                         flight time.
	 	 	 

		e.	Blade
                                         and Ross Aviation will work together to offer Blade services and terminals at one or
                                         more Ross Aviation FBOs in Bedford and Cape Cod, Massachusetts as well as Palm Springs/Thermal
                                         and Long Beach, California, with services anticipated to commence in the second half
                                         of 2021.
	 	 	 

		f.	Blade
                                         and Ross Aviation will seek additional areas of cooperation as Ross Aviation adds FBOs
                                         to its network.

 

		5.	Airport
                                         Vertiport Development: BLADE and Ross Aviation mutually agree to work together to
                                         develop a vertiport within the existing Ross Aviation footprint at the Airport to accommodate
                                         EVA, including a capital contribution and economic arrangement to be agreed upon. If
                                         development is approved:

 

3200 Cherry Creek South Drive, Suite 670  •  Denver, CO 80209  •  Phone: (303) 830-7700

 

     

     

    

 

		a.	BLADE
                                         will seek to consolidate its jet service offerings to this facility, where practical.
	 	 	 

		b.	BLADE
                                         will be responsible for investing in charging stations, sustainable power and other necessary
                                         infrastructure for when eVTOL aircraft become commercially available

 

		5.	Confidentiality. Unless
otherwise agreed to by the parties or required by law, order of a court of competent jurisdiction or the rules and regulations
of any governmental authority, each party hereto agrees that the terms of this Alliance, or any information or documentation related
to the negotiations of this Alliance or the resulting final agreements, are strictly confidential and should not be disclosed
in whole or in part to any party other than Ross Aviation's and BLADE's legal counsel, financial and other advisors (i) who need
to know such information in connection with the transactions contemplated hereby, (ii) who are informed by the relevant party
of the confidential nature of such information, and (iii) who agree to be bound by the terms of this confidentiality provision.
The term of this paragraph shall survive the expiration or termination of this Alliance.

 

It
is expressly understood and agreed by Ross Aviation and BLADE that this Alliance is intended only as a summary of certain terms
and conditions being discussed between the parties hereto with respect to the above-referenced transactions and in no event shall
this Alliance be construed as a binding agreement enforceable against either party: provided, however, that the obligations
under the heading "Confidentiality" shall be binding and enforceable obligations. Despite any continued negotiations
between the parties, a binding commitment with respect to the transaction contemplated by this Alliance will result only from
the execution of definitive written agreements. This Alliance is not intended to impose any obligation whatsoever on either party,
including continuation of negotiations, execution of a lease or fueling agreement, or any obligation to negotiate in any way other
than at arm's length. Neither party may rely on any past or future promises that are inconsistent with this paragraph. Prior to
the time that definitive agreements are executed by Ross Aviation and Alliance, either party may terminate negotiations with the
other party and enter into negotiations with entirely different parties.

 

We
look forward to beginning a long, mutually beneficial relationship with BLADE. Please indicate your acceptance of the foregoing
terms by signing where indicated below and returning a signed copy of this letter to me by January 7, 2021.

 

Sincerely,

 

Ross Aviation
Operations, LLC

 

	By:	 	 

 

Brian Corbett, Chief
Executive Officer

 

3200 Cherry Creek South Drive, Suite 670  •  Denver, CO 80209  •  Phone: (303) 830-7700

 

     

     

    

 

	 	Agreed and accepted this 7th day of January 2021.
	 
	 	BLADE Urban Air Mobility, Inc.
	 
	 	By:	 
	 	 	Melissa Tomkiel, President - Fixed Wing

 

3200 Cherry Creek South Drive, Suite 670  •  Denver, CO 80209  •  Phone: (303) 830-7700Exhibit 10.24

 

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

 

BLADE / HELICOPTERS, INC. CHICAGO TERMS

 

This term sheet executed as of the 17th
day of February, 2021, outlines the proposed terms for certain collaborative relationships between Blade Urban Air Mobility, Inc.
(“Blade”) and Helicopters, Inc. (“Helicopters Inc”), together with Blade, the “Parties”).
Upon execution of this term sheet, the Parties will immediately begin working together to negotiate and enter into a Definitive
Agreement (as defined hereinafter) containing the terms below.

 

This Term Sheet is intended solely as a
basis for further discussion and is not intended to be and does not constitute a legally binding obligation on any party hereto,
except to the extent set forth in the Binding Provisions section below. No other legally binding obligations, including but not
limited to any obligation to negotiate the Definitive Agreement, will be created, implied or inferred until definitive documents,
including the Definitive Agreement, if any, are executed and delivered by all Parties.

  

	Parties	
        Blade Urban Air Mobility, Inc. (“Blade”)
        and Helicopters, Inc. (“Helicopters Inc”)

         

	Term of Definitive Agreement	
        [*****] term commencing
        on the effective date of a definitive agreement entered into by the Parties (the “Definitive Agreement”).
        It is contemplated that the Definitive Agreement shall outline terms whereby Helicopters Inc provides helicopter
        transportation services to Blade pursuant to the terms contained therein, subject to the ability of Helicopters Inc. to opt
        out as described below.

         

	Vertiport	
        The Definitive Agreement will be contingent upon Blade having
        entered into a separate agreement with the Vertiport for exclusive Charter and HAA services, with Helicopters Inc as the exclusive
        provider of those services during the term of the Definitive Agreement.

         

	Aircraft Provision	
        (1) At any time within [*****] of signing this Term Sheet, and
        (2) after signing the Definitive Agreement, Blade will notify Helicopters Inc of Blade’s request for a Part 135 capable aircraft
        substantially equivalent to a Bell 206 L4. Helicopters Inc. agrees to provide such aircraft within 60 days of Blade requesting
        the aircraft to be used by Blade to provide charter services for a period of at least [*****]; provided, that Helicopters Inc shall
        have the ability to exercise a [*****] out clause, available any time after the [*****] period should Helicopters Inc determine
        that market demand is not sufficient. These terms are contingent upon the following:

         

        (i)          Blade
shall pay to Helicopters Inc a [*****] deposit (the “Deposit”) upon delivery of Blade’s request;

        (ii)         The
Deposit will be credited to both charter and HAA flights at a rate of [*****], and

        (iii)        If
during the first [*****] after the aircraft’s arrival at Vertiport, the aircraft can be used for both charter and tours,
the lesser of (A) the product of [*****] times a fraction the numerator of which is the number days remaining in the [*****] period
and the denominator is [*****] and (B) the Deposit remaining at that time shall be refunded to Blade, and the remaining portion
of the Deposit, if any, will be forfeited by Blade to Helicopters Inc.

         

        

 

    1 

     

    

 

	 	Additionally, (1) at any time within [*****] after the signing
        of this Term Sheet and (2) the signing of the Definitive Agreement, if Blade has secured a contract with a local hospital for HAA
        flights, Blade may notify Helicopters Inc of Blade’s request that Helicopters Inc provide an aircraft that is HAA capable.
        Within 60 days after receipt of such request, Helicopters, Inc agrees that it will make the aforesaid aircraft HAA capable or provide
        a second aircraft that is HAA capable, as Helicopters Inc determines.

	Assignability 	
        Helicopters Inc. may assign its rights and obligations under
        the definitive agreement to its wholly owned subsidiary, Helicopter Commute Service, LLC DBA Breeze Helicopters (“Breeze”).

         

	Helicopter Charter Rates 	
        Blade agrees to pay the following rates to Helicopters Inc for
        the Bell 206L4, as applicable:

         

        (i)          [*****]
per flight hour for non-HAA charter flights; and

        (ii)         [*****]
per flight hour for HAA flights.

         

        In addition, Blade shall pay to Helicopters Inc the following
        ancillary fees:

         

        (i)          [*****]
per hour for wait fees on non-HAA charter flights;

        (ii)         [*****]
per hour for wait fees on HAA flights; and

        (iii)        [*****]
per each after hour “call in” fee for pilots.

        (iv)        If any aircraft other than a Bell 206 L4 is provided, the Parties will agree reasonably to renegotiate the rates above
for such other aircraft. 

	HAA Equipment	
        If an HAA capable aircraft is requested by Blade, Helicopters
        Inc will equip an aircraft to enable organ and medical team transportation flights.

         

        Blade agrees to pay [*****] to Helicopters, Inc to support the
        equipment costs needed to receive HAA certification. To the extent is becomes necessary to move the HAA Equipment to an ENG ship
        because Blade no longer has adequate demand for charter flights, Blade agrees to cover such costs.

         

	
        BLADE Branding on Helicopter

         

         
	Helicopters Inc agrees to brand any aircraft utilized by Blade solely for retail charter service with “BLADE” livery. For clarity, this would not apply to any ENG or other aircraft conducting only HAA missions. 

	
        Exclusivity

        
	
        While the Definitive Agreement is in effect and Helicopters
        Inc is providing both charter and HAA services pursuant to such Definitive Agreement, Helicopters Inc shall not operate, sell,
        promote, and/or arrange by-the-seat charter air travel in the Chicago area, other than for tours.

         

 

    2 

     

    

 

	 	While the Definitive Agreement is in effect, Blade shall use Helicopters Inc to service all requests Blade receives for charter and HAA flights. Notwithstanding the foregoing, if Helicopters Inc is unable to perform a charter flight requested by Blade (each, a “Requested Flight”), Blade may use a different aircraft operator for such Requested Flight that Helicopters Inc is unable to perform.

                                                                                 

                                                                                So long as Helicopters Inc. or its wholly owned subsidiary Breeze
        has an exclusive arrangement with the operator of Vertiport, Blade shall not operate, sell, promote, and/or arrange tourism flights
        in the Chicago area.

                                                                                 

                                                                                While the Definitive Agreement is in effect, to the extent that
        it occurs, Blade will pass all tourism flight related inquiries to Helicopters Inc. Similarly, while the Definitive Agreement is
        in effect and charter services are being provided pursuant to the Definitive Agreement, Helicopters Inc. will pass all charter
        related inquiries to Blade.

                                                                                 

	Marketing	
        Blade shall aggressively market various routes to and from the
        Vertiport or other local area helicopter landing options on the Blade mobile application and website.

         

        Blade will aggressively market and target local Chicago area
        hospitals for organ transport services.

         

        Blade will invest in marketing its services at the Vertiport
        through various local media outlets, including digital, print, and television.

         

        Blade shall work with its commercial airline partners to market
        helicopter transfer services to customers of commercial airlines between the Chicago area airports and the Vertiport.

         

	Confidentiality	
        The Parties will not disclose to any other person (except to
        directors and employees of the Parties and its affiliates who have a need to know, or to the Parties’ legal and accounting
        advisers, or where disclosure is required by law) any of the terms, conditions or other facts with respect to this Term Sheet,
        including the pricing, structure and status thereof.

         

	Governing Law	
        This Term Sheet shall be governed by and construed and enforced
        in accordance with the laws of the state of Delaware, without giving effect to any principles or rules of conflict of laws to the
        extent such principles or rules would require or permit the application of the laws of another jurisdiction.

         

        EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES ITS, HIS OR HER
        RIGHT TO A JURY TRIAL OF ANY CLAIM ARISING OUT OF THIS TERM SHEET, THE DEFINITIVE AGREEMENTS OR THE TRANSACTION CONTEMPLATED HEREIN.

         

 

    3 

     

    

 

	Term Sheet Exclusivity	
        The Parties agree that until the date that is [*****] from the
        date hereof, they shall negotiate exclusively with each other regarding the subject matter of this Term Sheet, and shall not and
        shall procure that their respective affiliates, employees, agents, advisors and investment bankers do not, directly or indirectly,
        solicit, encourage, entertain or accept any inquiries, discussions or proposals from, or enter into any kind of negotiations with,
        or execute any agreements with, any other third party regarding Charter and HAA flights originating from Chicago Vertiport.

         

	Definitive Agreements	
        The Parties agree that any obligation concerning the purpose
        of this Term Sheet is subject to the negotiation and execution of the Definitive Agreement. Any obligations of the Parties contained
        herein shall be superseded by the Definitive Agreement.

         

	Costs	
        Each Party shall bear all fees and expenses (including attorneys’
        fees) incurred by it in connection with the preparation, negotiation and execution of this Term Sheet and any Definitive Agreement.

         

	Binding Provisions	
        From the execution date of this Term Sheet until the date that
        is [*****] thereafter, during which time, the Governing Law, Costs and Term Sheet Exclusivity provisions herein will be binding
        on the Parties.

         

 

	Blade Urban Air Mobility, Inc.	Helicopters, Inc.

 

	By :	 	 	By :	 

	Name :	 	 	Name :	 

	Title :	 	 	Title :	 

 

    4

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