Document:

Exhibit 10.16

 

Confidential

 

[*****] = Pursuant to Item 601(b)(10) of Regulation S-K, portions of
this exhibit have been omitted as the registrant has determined that certain confidential information contained in this document, marked
by brackets, has been omitted because it is both (i) not material and (ii) the type of information that the company treats as private
and confidential.

 

AMENDED & RESTATED SALES
AND MARKETING AGREEMENT

 

THIS AMENDED & RESTATED SALES AND MARKETING AGREEMENT (this
“Agreement”) is entered into as of September 27, 2022 (but effective as of the Effective Date (as defined below), by and
between TEXTRON AVIATION INC., a Kansas corporation (“TAI”), and SURF AIR MOBILITY INC., a Delaware corporation
(“SAM”) (each a “Party” and collectively, the “Parties”).

 

RECITALS

 

A. TAI
is the world’s leading manufacturer of general aviation aircraft, including the Cessna Model 208B Grand Caravan EX specified on
Type Certificate A37CE (individually and collectively as the context permits, “Caravan”).

 

B. Following
the date hereof, SAM intends to consummate one or more business combination and capital markets transactions pursuant to which, among
other things, shares of SAM (or its Affiliate) will be publicly listed on a United States national securities exchange (the first trading
date of shares of common stock of SAM or its affiliate on a United States national securities exchange (which, for the avoidance of doubt,
may occur following a business combination with a special purpose acquisition company, or SPAC), the “Effective Date”).

 

C. SAM,
together with its Affiliates, is in the process of engineering, developing and obtaining STCs for electric or hybrid-electric propulsion
systems (the “SAM STCs”) that are designed to be upfits/retrofits for the Caravan (collectively, the “SAM System”).

 

D. The
Parties are concurrently entering into (i) that certain Collaboration and Engineering Services Agreement, dated of even date herewith
(the “CESA”), pursuant to which TAI agrees to provide certain engineering services as may be agreed to in furtherance of SAM’s
efforts to develop the SAM System and obtain FAA certification of the SAM STCs, (ii) that certain Data License Agreement dated of even
date herewith (the “DLA”), pursuant to which Textron Innovations Inc. provides a limited data license to certain data, and
(iii) that certain Aircraft Purchase Agreement, dated of even date herewith (the “Aircraft Purchase Agreement”, and together
with this Agreement, the CESA and the DLA, the “Transaction Documents”), pursuant to which, following the Effective Date,
SAM will purchase one hundred (100) firm Caravan, with an option to purchase an additional fifty (50) Caravan, which Caravan SAM intends
to convert to SAM Aircraft using the SAM System and the SAM STCs.

 

E. Following
issuance of the SAM STCs, TAI may purchase or license from SAM, and SAM may sell or license to TAI, the SAM System and the SAM STCs, respectively,
for the manufacture and sale of factory new Caravan (“New Aircraft”) and conversions of pre-owned Caravan (“Conversions”)
incorporating the SAM System (collectively, the “SAM Aircraft”).

 

     

     

    

 

F. TAI
and SAM desire to cooperate and work together in good faith to develop marketing, promotional and sales strategies and materials for the
SAM Aircraft, on the terms and conditions set forth in this Agreement.

 

G. TAI
and SAM entered into the Sales and Marketing Agreement as of September 15, 2022 (the “Original Agreement”), and have agreed
to amend and restate the Original Agreement in its entirety as set forth herein.

 

AGREEMENT

 

ARTICLE
1 

DEFINITIONS

 

1.1
Definitions.

 

“Affiliate”
means, with respect to any Person, any other Person that, directly or indirectly, controls, is controlled by or is under common control
with such Person, where control may be by either management authority, contract or equity interest. As used in this definition, “control”
and correlative terms mean the power to direct or cause the direction of the management and policies of a Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise.

 

“Exclusivity
Period” means the period commencing on the Effective Date and ending on the date that either Party terminates the Exclusivity Rights
pursuant to Section 2.6 of this Agreement.

 

“FAA” means the United States
Federal Aviation Administration, or any successor.

 

“Intellectual Property Rights” means all patents, trade secrets,
know-how, trademarks, service marks, trade names, industrial design rights, copyrights, permits, licenses and other rights
(including industry certificates and approvals – e.g., type certificates and STCs) and all registrations, applications,
renewals, extensions, combinations, divisions, continuations or reissues of any of the foregoing.

 

“Person”
means an individual, corporation, partnership, joint venture, limited liability company, governmental authority, unincorporated organization,
trust, association, or other entity.

 

“STC”
means a Supplemental Type Certificate issued by the FAA or corresponding international regulatory agencies (e.g., the European Aviation
Safety Administration) for major modifications to existing type-certified aircraft, engines or propellers.

 

“SAM
System” means the proprietary electric or hybrid-electric propulsion systems developed by SAM for the SAM Aircraft, including SAM’s
proprietary system controls, software and algorithms integrating the electric power generator (EPU), turbo generator, energy storage systems
and other components to optimize thermal regulation and power utilization, and all SAM IP related thereto.

 

“SAM IP” means all Intellectual
Property Rights owned by SAM and its Affiliates.

 

    2

     

    

 

1.2 Interpretation
and Rules of Construction. In this Agreement, except to the extent otherwise provided or that the context otherwise requires: (a)
the headings or captions for this Agreement are for reference purposes only and do not affect in any way the meaning or interpretation
of this Agreement; (b) whenever the words “include,” “includes” or “including” are used in this Agreement,
they are deemed to be followed by the words “without limitation”; (c) the definitions contained in this Agreement are applicable
to the singular as well as the plural forms of such terms; (d) references to a Person are also to the Person’s successors and permitted
assigns; and (e) references to agreements and laws are also to the same as amended, restated or otherwise modified from time to time.

 

ARTICLE 2

MARKETING AND SALES OF SAM AIRCRAFT

 

2.1 Joint
Marketing and Sales Efforts. During the Term, TAI and SAM agree to use their respective commercially reasonable efforts to promote
the sales of the SAM Aircraft, including the following:

 

2.1.1 Each
of TAI and SAM shall appoint one (1) representative to serve as a primary point of contact for all marketing and sales related efforts
by the Parties with respect to the SAM Aircraft.

 

2.1.2 At
least sixty (60) days prior to the end of each calendar year during the Term, TAI and SAM shall mutually agree upon marketing and promotion
plans for the upcoming calendar year (such terms shall be contained in the “Annual Plan”). The Parties shall mutually agree
upon an initial set of marketing concepts within thirty (30) days of the Effective Date (the “Initial Marketing Plan”). Each
of TAI’s and SAM’s agreement on the Initial Marketing Plan and each Annual Plan shall be in their good faith discretion. The
Initial Marketing Plan and each Annual Plan [*****]. Any claims or representations contained in the Initial Marketing Plan and each
Annual Plan must be approved by each of TAI and SAM in their sole discretion. The Initial Marketing Plan and each Annual Plan will include
SAM’s payment to TAI of TAI’s costs and fees in connection with such plan. In accordance with the Initial Marketing Plan and
subsequent Annual Plans, TAI and SAM shall each promote the sale of the SAM Aircraft and use their respective commercially reasonable
efforts to engage in activities designed to increase the volume of such sales and promote the goodwill of the SAM Aircraft.

 

2.1.3 SAM and TAI shall
each (a) include the SAM Aircraft in sales and marketing materials (print and digital) distributed to SAM’s and TAI’s
networks of authorized dealers, (b) prominently display the SAM Aircraft on pages of the SAM and TAI websites and other SAM and TAI
digital channels (e.g., Twitter, Instagram, Facebook, etc.) featuring the Caravan, (c) include representatives of SAM and TAI at
certain SAM and TAI trade show booths as may be attended by TAI, in its sole discretion, including the National Business Aviation
Association (NBAA) Business Aviation Convention & Exhibition, EAA AirVenture, European Business Aviation Convention (EBACE), and
Paris / Farnborough / Dubai / Singapore Air Shows, (d) market New Aircraft and Conversions of pre-owned Caravan to SAM Aircraft
across each of the global service networks of SAM and TAI to all owners of pre-owned Caravan, and (e) not advertise or offer any
third-party Exclusive System variants of the Caravan with respect to any of the activities described in subclauses (a) – (d)
above or otherwise.

 

    3

     

    

 

2.1.4 Each
SAM Aircraft may be labeled as to the propulsion system – e.g., “SAM EP1”, or such other designation as agreed in writing
by the Parties in their sole discretion – in promotional and sales materials, print and digital, as well as on the outer hull of
New Aircraft that is a SAM Aircraft (it being understood that such identification shall in in addition and subordinated to, and not in
lieu of, TAI’s branding of the Caravan – e.g., Cessna Caravan).

 

2.1.5 To
promote sales of New Aircraft by TAI, SAM will share with TAI all inquiries and sales leads developed by SAM for SAM Aircraft. In addition,
at the election of SAM, SAM may direct to TAI leads and sales possibilities for Conversions.

 

2.1.6 TAI
may elect to utilize third-party service providers in performing its obligations pursuant to this Agreement.

 

2.2
Use of Marks.

 

2.2.1 Neither
Party shall use any trademarked or copyrighted material of the other Party without either (i) first entering into a license agreement
governing such use or

(ii) obtaining explicit written permission from such other
Party.

 

2.2.2 Any
trademark or copyright license pursuant to Section 2.2.1 shall be a limited, terminable (subject to the express terms of the license agreement),
non-transferable license, without the right to sublicense, within a defined licensed use. The licensee under such license (“Licensee”)
shall ensure that the use of licensed marks or material shall meet the licensor’s (“Licensor”) brand standards and quality
standards and requirements, as they may be modified or updated by Licensor from time to time and communicated to Licensee in writing,
and be of a quality equal to or higher than the samples provided to Licensor for review and approval. Licensee shall use any licensed
marks or material in an ethical manner, and shall not engage in unfair or anti-competitive business practices. Moreover, Licensee’s
use of licensed marks or material shall meet all applicable international, national, federal, state and local laws, treaties and governmental
orders and regulations. Except as otherwise agreed, Licensee shall submit samples of all materials using the licensed marks or material
for Licensor’s review and approval prior to any use.

 

2.3 Official
Leasing Partner. SAM intends to incentivize purchases of SAM Aircraft by TAI customers and third-party operators in the Surf Air Mobility
platform and participate in these acquisitions with lease or purchase financing through its “Aircraft as a Service” program.
SAM will be designated by TAI as its “Official Leasing Partner” for the SAM Aircraft.

 

2.4 Exclusive
Electrification Relationship for Aircraft. In consideration of SAM’s investment in the SAM Technology and the SAM STCs, to be
designed, engineered and developed by SAM at the sole expense of SAM, and the Marketing and Sales efforts of SAM in support of the SAM
Aircraft pursuant to Article 2, TAI hereby appoints SAM as its exclusive supplier of battery electric and turbine-battery hybrid-electric
propulsion systems for the Caravan (the “Exclusive System”) during the Exclusivity Period (as defined below), and SAM hereby
accepts such appointment. Further, TAI agrees:

 

2.4.1 not
to license, seek authorization to use, use, [*****] any STCs owned by third parties
for an Exclusive System (each, a “Third-Party STC”);

 

    4

     

    

 

2.4.2 not
to market, advertise or otherwise offer for sale any third-party Exclusive System variants of the Caravan, whether new or conversions
of pre-owned Caravan, in sales discussions with any potential customers of the Caravan;

 

2.4.3 not
to include any third-party Exclusive System variants of the Caravan in any sales materials distributed to TAI’s network of authorized
dealers; and

 

2.4.4 not
to market, sell, endorse or install at TAI company owned service centers conversions of Caravan to an Exclusive System developed by third
parties.

 

The exclusivity rights granted to
SAM under this Section 2.4 are hereafter referred to as the “Exclusivity Rights”. The Exclusivity Rights shall be valid only
during the Exclusivity Period.

 

For the avoidance of doubt, nothing herein shall
(i) prohibit TAI from engaging in joint development or providing data licenses, engineering services or related services to any
Person, including in each case in connection with electric or hybrid-electric propulsion or (ii) bind, affect or limit in any way,
directly or indirectly, any TAI Affiliate that is not a wholly owned subsidiary of TAI. Further, the Exclusive System excludes
[*****].

 

2.5 Evaluation
by SAM of Electrification Technologies. If, during the Exclusivity Period, TAI becomes aware of any new or upgraded electrification
component or technology capable of being incorporated within the SAM Aircraft or any other aircraft produced or in development by TAI
(each, an “Electrification Opportunity” and collectively, the “Electrification Opportunities”), TAI has the right,
but not the obligation, in its sole discretion, to request SAM to evaluate such Electrification Opportunity and SAM agrees and commits
to evaluate and assess the technology, market potential and commercial feasibility of such Electrification Opportunity at the expense
of SAM. If TAI and SAM mutually agree that an Electrification Opportunity is technically and commercially viable, SAM agrees and commits
to work to incorporate such Electrification Opportunity within an existing electrification project, or, at the expense of SAM to design,
develop, engineer and pursue an STC for such Electrification Opportunity, as applicable.

 

2.6
Termination of Exclusivity Period.

 

2.6.1 TAI
may terminate the Exclusivity Period in its sole discretion (a) upon the occurrence of a Specified Event of Default, as defined in the
CESA, or (b) following the eighth (8th) anniversary of the Effective Date, by providing notice of its election to terminate
during the month of December in any year during the Term of this Agreement.

 

2.6.2 SAM
may terminate the Exclusivity Period in its sole discretion upon written notice to TAI and payment in full of all Exclusivity Fees otherwise
payable within nine (9) months following the date of such notice; provided that if the SAM STC Issuance Date as defined in the DLA has
not occurred at the time of such notice, for purposes of this Section 2.6.2 it shall be deemed to have occurred during the third contract
year following the Effective Date.

 

2.6.3 Following any
termination of the Exclusivity Period by TAI, SAM shall have the option, in its sole discretion, to terminate (a) the Aircraft
Purchase Agreement and SAM’s obligations to purchase any remaining Caravans thereunder or (b) the DLA and SAM’s
obligations to pay license fees thereunder; provided that any obligations of the Parties under the Aircraft Purchase Agreement or
the DLA that are intended to survive (e.g., warranty rights) shall remain in effect and survive any such termination.

 

    5

     

    

 

2.7
Exclusivity Fee.

 

2.7.1 SAM
shall pay TAI the exclusivity fees set forth in Schedule A (collectively, the “Exclusivity Fee”). Each installment of the
exclusivity fee set forth in Schedule A shall be deemed non-refundable and fully earned as set forth in Schedule A.

 

2.7.2 Payment
of the Exclusivity Fee made hereunder shall be in United States currency and shall be remitted by wire transfer from SAM’s account,
including SAM’s name as the originator or “By order of” TAI and issued to TAI by wire transfer into the account identified
below or other account as designated in writing by TAI. TAI reserves the right to reject any other form of payment. SAM shall have no
right to set off any money owed to TAI by SAM against any money owed by SAM to TAI hereunder. TAI shall have the right to reject or accept
payment- related transfers or requests without prejudice that do not comply with its then-existing finance and anti-money laundering policies.

 

	 	Please wire payment to:	 
	 	 	 
	 	[*****]	

 

ARTICLE 3 

REPRESENTATIONS
AND WARRANTIES

 

3.1 Representations
and Warranties. Each Party represents and warrants to the other Party that:

 

3.1.1 the
execution and delivery of this Agreement, the performance of its obligations hereunder and the consummation of the transactions contemplated
hereby have been duly authorized by all requisite corporate action on the part of the Party;

 

3.1.2 this
Agreement has been duly executed and delivered, and (assuming due authorization, execution and delivery by the other Party) constitutes
the legal, valid and binding obligations of the Party, enforceable against such Party in accordance with its terms, subject to the effect
of any applicable bankruptcy, insolvency (including all Laws relating to fraudulent transfers), reorganization, moratorium or similar
Laws affecting creditors’ rights generally and subject to the effect of general principles of equity (regardless of whether considered
in a proceeding at Law or in equity);

 

3.1.3 the execution,
delivery and performance of this Agreement, and the consummation by it of the transactions contemplated thereby, do not and will not
conflict with, or result in a breach or violation of or default under, the organizational documents of such Party, any applicable
Law or any note, indenture, contract, agreement or instrument to which it is a party or is otherwise subject; and

 

    6

     

    

 

3.1.4 it
is and shall be in compliance with applicable Laws in connection with its performance under this Agreement.

 

3.2 Disclaimer
of Warranties. EXCEPT AS SET FORTH IN THIS ARTICLE 3, NONE OF THE PARTIES, THEIR AFFILIATES OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS,
EMPLOYEES OR REPRESENTATIVES MAKE OR HAVE MADE ANY OTHER REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AT LAW OR IN EQUITY, IN RESPECT
OF SUCH PARTY, SUCH PARTY’S ASSETS OR LIABILITIES OR SUCH PARTY’S PERFORMANCE, IN EACH CASE RELATED TO THIS AGREEMENT OR THE
SUBJECT MATTER HEREOF, INCLUDING WITH RESPECT TO MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE, AND THE PARTIES EXPRESSLY DISCLAIM
ANY OTHER REPRESENTATIONS OR WARRANTIES.

 

ARTICLE
4

TERMINATION

 

4.1 Term. This Agreement
shall become effective as of the Effective Date and shall continue to be effective unless and until terminated in accordance with the
terms hereof (the “Term”).

 

4.2 Termination by Either Party. This Agreement shall terminate:

 

4.2.1
upon the mutual agreement of the Parties;

 

4.2.2 at
the election of SAM, in the event TAI terminates the Exclusivity Period pursuant to Section 2.6 hereof;

 

4.2.3 at the election of TAI, in the event SAM terminates
the Exclusivity Period pursuant to Section 2.6 hereof;

 

4.2.4 at the election of TAI, if SAM undergoes a
Change of Control as defined in the CESA;

 

4.2.5 by either Party, if any of the Transaction Documents are terminated for any reason;

 

4.2.6 upon
the commencement of a voluntary or involuntary case or other proceeding by or against SAM seeking liquidation, reorganization or other
relief under any bankruptcy, insolvency or other similar law now or hereafter in effect, which in the case of an involuntary proceeding
is not stayed or lifted within thirty (30) days; the application for or consent to the appointment of a receiver, trustee, liquidator
or custodian by SAM for itself or of all or a substantial part of its property; the making by SAM of a general assignment for the benefit
of any of its creditors; or the taking by SAM of any action for the purpose of effecting any of the foregoing; or

 

4.2.7 upon the commencement of a voluntary or
involuntary case or other proceeding by or against TAI seeking liquidation, reorganization or other relief under any bankruptcy,
insolvency or other similar law now or hereafter in effect, which in the case of an involuntary proceeding is not stayed or lifted
within thirty (30) days; the application for or consent to the appointment of a receiver, trustee, liquidator or custodian by TAI
for itself or of all or a substantial part of its property; the making by TAI of a general assignment for the benefit of any of its
creditors; or the taking by TAI of any action for the purpose of effecting any of the foregoing.

 

    7

     

    

 

4.2.8 at
the election of TAI, if the Effective Date does not occur on or prior to March 31, 2023.

 

4.3
Effect of Termination.

 

4.3.1 Upon
termination or expiration of this Agreement: (i) each Party shall return to other Party all Confidential Information of such other Party;
(ii) each Party shall remain liable for all of its respective obligations hereunder that accrued prior to the date of termination and
(iii) if either Party has a claim against the other Party there shall (in the absence of express written agreement between the Parties
in respect thereof) be no right of set-off against any monies due from the other party.

 

4.3.2 All
rights and remedies conferred herein shall be cumulative and in addition to all of the rights and remedies available to each Party at
law, equity or otherwise.

 

ARTICLE
5 

GENERAL PROVISIONS

 

5.1
Confidentiality; Disclosure.

 

5.1.1 From time to time
during the Term of this Agreement, either Party (as the “Disclosing Party”) may disclose or make available to the other
Party (as the “Receiving Party”), non-public, proprietary, and confidential information of Disclosing Party that, if
disclosed in writing or other tangible form is clearly labeled as “confidential,” or if disclosed orally, is identified
as confidential when disclosed and within 10 days thereafter, is summarized in writing and confirmed as confidential
(“Confidential Information”); provided, however, that Confidential Information does not include any information that:
(a) is or becomes generally available to the public other than as a result of Receiving Party’s breach of this Section; (b) is
or becomes available to the Receiving Party on a non-confidential basis from a third-party source, provided that such third party is
not and was not prohibited from disclosing such Confidential Information; (c) was in Receiving Party’s possession prior to
Disclosing Party’s disclosure hereunder; or (d) was or is independently developed by Receiving Party without using any
Confidential Information. The Receiving Party shall: (x) protect and safeguard the confidentiality of the Disclosing Party’s
Confidential Information with at least the same degree of care as the Receiving Party would protect its own Confidential
Information, but in no event with less than a commercially reasonable degree of care; (y) not use the Disclosing Party’s
Confidential Information, or permit it to be accessed or used, for any purpose other than to exercise its rights or perform its
obligations under this Agreement; and (z) not disclose any such Confidential Information to any Person, except to the Receiving
Party’s Group who need to know the Confidential Information to assist the Receiving Party, or act on its behalf, to exercise
its rights or perform its obligations under this Agreement.

 

5.1.2 If the Receiving
Party is required by applicable law or legal process to disclose any Confidential Information, it shall, prior to making such
disclosure, use commercially reasonable efforts to notify Disclosing Party of such requirements to afford Disclosing Party the
opportunity to seek, at Disclosing Party’s sole cost and expense, a protective order or other remedy. For purposes of this
Section only, Receiving Party’s Group shall mean the Receiving Party’s affiliates and its or their employees, officers,
directors, shareholders, partners, members, managers, agents, independent contractors, representatives, sublicensees,
subcontractors, attorneys, accountants, and financial advisors (together “Representatives”).

 

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5.1.3 Notwithstanding
any other provision of this Agreement, the Receiving Party shall have the right, at any time during or after the term of this Agreement,
to disclose, publish, disseminate, and use Residual Information for any purpose in its business, provided that the Receiving Party does
not, and does not permit its Representatives to, breach its confidentiality obligations under this Agreement in using such Residual Information.
For purposes of this Agreement, the term “Residual Information” means any confidential information in intangible form (including,
without limitation, ideas, concepts, know-how, or techniques) that is retained in the memory of the Receiving Party’s Representatives
who use or have access to such Confidential Information. The Receiving Party shall not have any obligation to limit or restrict the work
assignments of any of its Representatives or to pay the Disclosing Party any royalties for any work product developed in reliance on or
through the use of, in whole or in part, any Residual Information, provided, however, that this Section shall not be deemed to grant to
the Recipient any right, title or interest (including, without limitation, any Intellectual Property Rights) in or to any Confidential
Information.

 

5.1.4 Notwithstanding
anything to the contrary in this Agreement, SAM shall not publicly disclose any of the Transaction Documents or information relating thereto
except in the circumstances described in this paragraph. In the event that SAM determines upon the advice of counsel that it is required
by law or applicable regulations to disclose (each instance, a “Disclosure”) through filings with the SEC or disclosure to
investors of any of the Transaction Documents or any information related thereto, SAM shall (i) consult with TAI to mutually agree upon
the scope and substance of the required Disclosure; provided, however, that if SAM and TAI are unable to mutually agree on such scope
and substance, SAM’s reasonable determination (based upon the written advice of counsel) shall control, and (ii) deliver to TAI
a copy of the applicable Disclosure and notice of the date for making such Disclosure (the “Disclosure Date”) and use reasonable
best efforts to deliver such copy of the Disclosure at least ten (10) Business Days prior to the Disclosure Date. SAM shall modify such
Disclosure based upon the commercially reasonable comments of TAI and address any comments provided by TAI to TAI’s reasonable satisfaction
(provided such comments are delivered to SAM no later than two (2) Business Days prior to the Disclosure Date), , including by making
any commercially reasonable requests for confidential treatment or redactions to copies of the Transactions Documents required to be included
as an exhibit to an SEC filing, provided that, in the reasonable opinion of SAM (upon the written advice of counsel), any such requests
would not violate applicable laws or regulations with respect to the Disclosure. In addition, SAM shall promptly provide to TAI copies
of any correspondence from a governmental authority in respect of a Disclosure and shall cooperate in good faith with TAI in responding
to such correspondence and amending the Disclosure, to the extent necessary.

 

5.1.5 In the event that
there is deemed to be any conflict between the provisions of that certain Confidentiality Agreement dated as of [*****] (the
“NDA”), between TAI, on the one hand, and SAM, [*****] and Southern Airways Corporation, on the other hand and
this Agreement as to the subject matter hereof and the Parties hereto, the provisions of this Agreement shall control.

 

5.2 Relationship of the Parties. The
Parties intend to create an independent contractor relationship and nothing contained in this Agreement will be construed as
creating a joint venture, association, partnership, franchise, or other form of business or relationship except to the extent a
partnership is considered to exist for U.S. federal income tax purposes, and nothing contained in this Agreement will be construed
as making a Party liable for the debts or obligations of the other Party, unless expressly provided in this Agreement.

 

    9

     

    

 

5.3 No
Authority. Nothing in this Agreement shall grant to either TAI or SAM the right to negotiate or make commitments of any kind for or
on behalf of the other Party without prior written approval of the other Party.

 

5.4 Amendments.
No modification to this Agreement will be effective unless in writing as an amendment to this Agreement, which specifically references
this Agreement, and is signed by both Parties.

 

5.5 Waivers.
No waiver by any Party of any of the provisions of this Agreement shall be effective unless explicitly set forth in writing and signed
by the Party so waiving. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising, any right, remedy,
power or privilege arising from this Agreement shall operate or be construed as a waiver thereof, nor shall any single or partial exercise
of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right,
remedy, power or privilege. No waiver shall constitute a continuing waiver.

 

5.6 Severability.
The provisions of this Agreement shall be severable, and if any provision of this Agreement shall be held or declared to be illegal, invalid,
or unenforceable in any jurisdiction, such illegality, invalidity or unenforceability shall not affect any other provision hereof or the
interpretation and effect of the Agreement as to any other jurisdiction, and the remainder of the Agreement, disregarding such illegal,
invalid or unenforceable provision, shall continue in full force and effect as though such illegal, invalid, or unenforceable provision
had not been contained herein.

 

5.7 Assignment.
Any purported assignment or delegation in violation of this Section shall be null and void. No assignment or delegation shall relieve
SAM of any of its obligations under this Agreement. TAI may assign any of its rights or delegate any of its obligations to any Affiliate
or to any person acquiring all or substantially all of TAI’s assets without SAM’s consent.

 

5.8 Successors
and Assigns. This Agreement is binding on and inures to the benefit of the Parties to this Agreement and their respective permitted
successors and permitted assigns.

 

5.9 No
Third-Party Beneficiaries. This Agreement benefits solely the Parties to this Agreement and their respective permitted successors
and assigns and nothing in this Agreement, express or implied, confers on any other Person any legal or equitable right, benefit or remedy
of any nature whatsoever under or by reason of this Agreement.

 

5.10 Governing
Law/Forum. The Parties agree this Agreement will be deemed made and entered into and will be performed wholly within the State
of Kansas and any dispute arising under, out of or related in any way to this Agreement, the legal relationship between TAI and SAM
or the transaction that is the subject matter of this Agreement (collectively “Dispute”) will be governed and construed
under the laws of the State of Kansas, USA, exclusive of conflicts of laws. Any Dispute will be adjudicated solely and exclusively
in the United States District Court for the State of Kansas, in Wichita, Kansas or, if that court lacks jurisdiction, Kansas state
courts of the 18th Judicial District. Each of the Parties (i) consent to the exclusive, personal jurisdiction of these courts and,
by signing this Agreement, waive any objection to venue of these Kansas courts and (ii) agree that final judgment brought in these
courts will be conclusive and binding upon the parties and may be enforced in any other courts with jurisdiction over the
parties.

 

    10

     

    

 

5.11 WAIVER
OF JURY TRIAL. EACH PARTY ACKNOWLEDGES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT INCLUDING EXHIBITS, SCHEDULES, ATTACHMENTS,
AND APPENDICES ATTACHED TO THIS AGREEMENT, IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH SUCH PARTY IRREVOCABLY
AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTION ARISING OUT OF OR RELATING TO THIS
AGREEMENT, INCLUDING ANY EXHIBITS, SCHEDULES, ATTACHMENTS OR APPENDICES ATTACHED TO THIS AGREEMENT, THE TRANSACTION DOCUMENTS, OR THE
TRANSACTIONS CONTEMPLATED HEREBY.

 

5.12 Entire
Agreement. This Agreement and any attached statements of work, schedules and exhibits constitute the entire agreement between the
Parties pertaining to the subject matter contained herein and supersedes all prior and contemporaneous agreements, representations, communications
and understandings of the Parties. Each of the Parties acknowledges that no other party, nor any agent or attorney of any other party,
has made any promise, representation, or warranty whatsoever, express or implied, and not contained herein, concerning the subject matter
hereof to induce the Party to execute or authorize the execution of this Agreement, and acknowledges that the Party has not executed or
authorized the execution of this instrument in reliance upon any such promise, representation, or warranty not contained herein. For the
avoidance of doubt, each of the Transaction Documents govern as to their respective subject matter independently, and without integration.

 

5.13 Force
Majeure. Neither Party shall be deemed in default or otherwise liable hereunder due to its inability to perform (except for any obligations
of SAM to pay TAI hereunder) by reason of any act of God, fire, earthquake, flood, epidemic, pandemic, quarantine, accident, explosion,
casualty, strike, lockout, slowdown, labor controversy or other industrial disturbances, riot, civil disturbance, act of public enemy,
embargo, war, any municipal, county, state, national or international ordinance or law, any executive, administrative, judicial or similar
order (which order is not the result of any act or omission to act which would constitute a default under this Agreement), government
action or inaction (other than any action or inaction by the FAA related to the STC), delay in supplier deliveries, any failure or delay
of any transportation, power, or other essential thing required, or similar causes beyond the Party’s control (each a “Force
Majeure Event”). In such case, the Party affected by the Force Majeure Event shall notify the other Party of its inability to
perform. Any delay in performance shall be no greater than the Force Majeure Event causing the delay.

 

5.14 Joint
Drafting. This Agreement is to be construed as if drafted jointly by the Parties and no presumption will arise favoring or disfavoring
either Party by virtue of the authorship of any provision of this Agreement.

 

5.15 Notices. All
notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to
have been given (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a
nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or e-mail of a PDF document (with
confirmation of transmission) if sent during normal business hours of the recipient, and on the next Business Day if sent after
normal business hours of the recipient; or (d) on the third business day after the date mailed, by certified or registered mail,
return receipt requested, postage prepaid. Such communications must be sent to the respective parties at the following addresses (or
at such other address for a party as shall be specified in a notice given in accordance with this Section).

 

	If to TAI:	Textron Aviation Inc.
	 	[*****]

 

    11

     

    

 

	with a copy to:	Textron Aviation Inc.
	 	[*****]

 

	If to SAM:	Surf Air Mobility Inc.
	 	[*****]

 

	with a copy to:	Surf Air Mobility Inc.
	 	[*****]

 

5.16 Further
Assurances. Each Party covenants and agrees that, subsequent to execution and delivery of this Agreement and without any additional
consideration, each Party shall execute and deliver any further legal instruments and perform any acts that are or may become reasonably
necessary to effectuate the purposes of this Agreement.

 

5.17 Limitation
of Liability. IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR ANY LOSS OF USE, REVENUE, OR PROFIT OR LOSS OF DATA
OR DIMINUTION IN VALUE, OR FOR ANY CONSEQUENTIAL, INCIDENTAL, INDIRECT, EXEMPLARY, SPECIAL, OR PUNITIVE DAMAGES WHETHER ARISING OUT OF
BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE), OR OTHERWISE, REGARDLESS OF WHETHER SUCH DAMAGE WAS FORESEEABLE AND WHETHER OR NOT SUCH
PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND NOTWITHSTANDING THE FAILURE OF ANY AGREED OR OTHER REMEDY OF ITS ESSENTIAL
PURPOSE.

 

5.18 Counterparts;
Electronic Signatures. This Agreement may be executed in counterparts, each of which shall be deemed to be an original and both
together shall be deemed to be one and the same agreement. Counterpart signature pages to this Agreement transmitted by facsimile
transmission, by electronic mail in “portable document format” (.pdf) form, or by any other electronic means intended to
preserve the original graphic and pictorial appearance of a document will have the same effect as physical delivery of the paper
document bearing an original signature. By signing below, the signatories to this Agreement verify they have full authority to bind
and do hereby bind their respective Parties.

 

[Signatures on Next Page]

 

    12

     

    

 

IN WITNESS WHEREOF, this Agreement
has been duly executed and delivered by the duly authorized officers of the Parties hereto as of the date first written above.

 

	TEXTRON AVIATION INC.	 	SURF AIR MOBILITY INC.
	 	 	 	 	 
	By:	[*****]	 	By:	/s/ Sudhin Shahani
	Name: 	[*****]	 	Name: 	Sudhin Shahani
	Title:	[*****]	 	Title:	CEO

 

Signature Page to Amended &
Restated Sales and Marketing Agreement

 

    13

     

    

 

Amended
& Restated Sales and Marketing Agreement

 

Schedule A

 

Exclusivity Fees:

 

SAM shall pay to TAI Exclusivity
Fees in an aggregate amount of $40,000,000 United States dollars, payable as follows:

 

		i.	Deferred fees of $[*****] in respect of
the first contract year following the Effective Date, and $[*****] in respect of each of the second and third contract years following
the Effective Date, with deemed due dates of the first, second and third anniversary of the Effective Date, respectively. Each of these
three fees is deferred as described in this Schedule A.

 

The deferred fees shall be paid
in four equal payments of $[*****], each due one day prior to the Effective Date anniversary of each of the first four (4) contract
years beginning the earlier of (a) the contract year following the contract year in which the SAM STC Issuance Date (as defined in the
DLA) occurs and (b) the fifth contract year.

 

		ii.	Annual fees of $[*****] per year, each due
one day prior to the Effective Date anniversary of each of the first four (4) contract years beginning the earlier of (a) the contract
year following the contract year in which the SAM STC Issuance Date (as defined in the DLA) occurs and (b) the fifth contract year.

 

SAM shall receive an aggregate credit
toward either the License Fee (as defined in the DLA) or the Exclusivity Fee of $[*****] for each Qualifying Event, as defined below.
Each credit may only be applied against one fee.

 

Such credit shall be applied (i) first,
as an offset against SAM’s obligation to pay unpaid License Fees in such contract year, (ii) second, as an offset against SAM’s
obligation to pay unpaid Exclusivity Fees in such contract year, and (iii) thereafter as an offset against the unpaid License Fees and
then unpaid Exclusivity Fees in successive future contract years. No credit may be applied to License Fees or Exclusivity Fees that have
previously been paid to TAI. For the avoidance of doubt, if all fees have been paid, no credit shall be applied or payable in cash.

 

“Qualifying Event” means (i)
SAM’s firm order, accompanied by a deposit of at least $[*****] as specified in the applicable aircraft purchase agreement,
for a new Caravan delivered with the SAM System (in excess of the 100 total Caravans contemplated by the APA), (ii) [*****] and
(iii) [*****].

 

    14

     

    

 

All Exclusivity Fees are non-refundable
and fully earned when paid.

 

Except as provided in Section 2.6.2,
no Exclusivity Fee, including deferred fees, shall be payable if the Exclusivity Period has been terminated prior to the applicable payment
due date.

 

For example purposes only, assuming
[*****] the Exclusivity Fee would be paid as follows:

 

	Fee Amount	Exclusivity Period	Payment Date
	[*****]	
    [*****]
	
    [*****]

	[*****]	[*****]	
    [*****]

	[*****]	[*****]	
    [*****]

	[*****]	[*****]	[*****]
	[*****]	[*****]	[*****]
	[*****]	[*****]	[*****]
	[*****]	[*****]	[*****]

 

 

15Exhibit
10.17

 

Confidential

 

[*****] = Pursuant to Item 601(b)(10) of Regulation S-K, portions of
this exhibit have been omitted as the registrant has determined that certain confidential information contained in this document, marked
by brackets, has been omitted because it is both (i) not material and (ii) the type of information that the company treats as private
and confidential.

 

DATA
LICENSE AGREEMENT

Between

TEXTRON AVIATION INC.

TEXTRON
INNOVATIONS INC.

And

SURF
AIR MOBILITY INC.

For

CARAVAN
208B EX TECHNICAL DATA

 

THIS
LICENSE AGREEMENT (“Agreement”) is made and entered into as of September 15, 2022, but effective as of the Effective Date
(as defined below), by and between (i) Textron Aviation Inc. (“TAI”), a corporation organized and existing under the laws
of the State of Kansas, U.S.A., whose registered address is at One Cessna Boulevard, Wichita, Kansas 67215 and Textron Innovations Inc.
(“TII”), a Delaware corporation having its principal place of business at 40 Westminster Street, Providence, Rhode Island
02903 (collectively “Licensor”), on the one hand, and (ii) Surf Air Mobility Inc. (“Licensee”), a Delaware corporation
having its principal place of business at 12111 Crenshaw Boulevard, Hawthorne, CA 90250, on the other hand (each of whom may be referred
to hereafter as a “Party” or collectively as the “Parties”). “Effective Date” means the first trading
date of shares of common stock of Licensee or its affiliate on a United States national securities exchange (which, for the avoidance
of doubt, may occur following a business combination with a special purpose acquisition company, or SPAC).

 

RECITALS:

 

WHEREAS,
Licensor is engaged in the business of designing, developing, manufacturing, and supporting the Cessna Model 20B Grand Caravan EX specified
on Type Certificate A37CE (individually and collectively as the context permits, the “Caravan”), and has, over the
years, acquired and developed substantial and valuable technical data, drawings, and specifications related to the Caravan described
in Schedule A (the “Technical Information”);

 

WHEREAS,
Licensee desires to develop and obtain Supplemental Type Certificates from the FAA, including any foreign validation by any other aviation
authority, for electrified propulsion upfits/retrofits of an electric or hybrid-electric Caravan using the Technical Information (the
“Licensed Use”) (such Supplemental Type Certificates, each a “SAM STC”) and desires a license to the Technical
Information for such use;

 

WHEREAS,
concurrently herewith, Licensee has entered into various agreements with TAI including but not limited to (i) an agreement for the purchase
of 100 Caravan with an option to purchase an additional 50 Caravan (the “Aircraft Purchase Agreement” or “APA”);
(ii) an agreement with TAI for collaboration and engineering services (the “Collaboration & Engineering Services Agreement”
or “CESA”); and (iii) an agreement with TAI for sales and marketing (the “Sales and Marketing Agreement” and
together with this Agreement, the CESA and the APA, the “Transaction Documents”); and

 

WHEREAS,
Licensor is agreeable to providing Licensee a license to the Technical Information and allowing Licensee to utilize such Technical Information
for the sole purpose of the Licensed Use subject to the terms and conditions contained herein.

 

     

     

    

 

NOW
THEREFORE, for and in consideration of the foregoing and the mutual promises contained herein, and for other good and valuable consideration,
the sufficiency of which is acknowledged by the Parties, the Parties agree as follows:

 

		1.0	Definitions;
Interpretation.

 

		1.1	“Background
                                            Intellectual Property” shall mean only the specific Technical Information and all other
                                            Intellectual Property owned by or licensed to Licensor and licensed by Licensor to Licensee
                                            under this Agreement.

 

		1.2	“Foreground
                                            Intellectual Property” shall mean any and all adaptations, modifications, derivative
                                            works, improvements, enhancements and revisions to the Background Intellectual Property.

 

		1.3	“Intellectual
                                            Property” means all inventions, trade secrets, discoveries, improvements, patents and
                                            copyrights; all technical data, including, but not limited to drawings, specifications, process
                                            information, technical reports and all other documented information and the like as well
                                            as all computer software and related documentation.

 

		1.4	“Person”
                                            means an individual, corporation, partnership, joint venture, limited liability company,
                                            governmental authority, unincorporated organization, trust, association, or other entity.

 

		1.5	In
this Agreement, except to the extent otherwise provided or that the context otherwise requires: (a) the headings or captions for this
Agreement are for reference purposes only and do not affect in any way the meaning or interpretation of this Agreement; (b) whenever
the words “include,” “includes” or “including” are used in this Agreement, they are deemed to be
followed by the words “without limitation”; (c) the definitions contained in this Agreement are applicable to the singular
as well as the plural forms of such terms; (d) references to a Person are also to the Person’s successors and permitted assigns;
and (e) references to agreements and laws are also to the same as amended, restated or otherwise modified from time to time.

 

		2.0	Technical
Information – License Granted.

 

		2.1	License.
                                            Subject to such other qualifications, limitations, and restrictions as are contained in this
                                            Agreement, and subject to Licensee’s timely payment to Licensor of the License Fee
                                            (as defined below) when due, Licensor hereby grants to Licensee a limited, revocable (solely
                                            on the terms set forth herein), non-exclusive, non-transferable, worldwide, license to use
                                            the Technical Information, Background Intellectual Property and the Foreground Intellectual
                                            Property (collectively, “Licensed Information”) solely for the Licensed Use (the
                                            “License”).

 

		2.2	Other
                                            Use. Licensee covenants and agrees that the Licensed Information will not be used for
                                            any purpose other than the Licensed Use, unless specifically agreed to by Licensor in a separate
                                            writing.

 

		2.3	Aircraft
                                            Parts Manufacturing. This License does not grant the right to Licensee to reverse engineer
                                            parts or components. The License does not extend to, and the Licensed Information shall not
                                            be used for, the reverse engineering or manufacturing of parts or components.

 

		2.4	Third
                                            Parties. Licensee shall have no right to authorize third parties to use the Licensed
                                            Information without prior approval by Licensor.

 

		2.5	No
Other Right to Technical Information, Licensor’s Know-how and Other Intellectual Property or Third-Party Intellectual Property.
This Agreement conveys to Licensee no rights with respect to the Technical Information other than specifically set forth herein. Licensee
acknowledges that Licensor is the owner of certain trademarks, trade dress, copyrights, patents, drawings, data, and other Intellectual
Property rights that are not included in the Technical Information (“Other Property”). Licensee understands and agrees that
it does not have authorization to use the Other Property in any manner whatsoever. Nor does this Agreement grant rights to Intellectual
Property of any other party. Licensee must independently obtain any authorization, license or permission for use of third-party Intellectual
Property used in conjunction with the Technical Information. Licensee’s indemnification, as provided herein, shall also cover any
claims related to use of the third-party Intellectual Property.

 

    Page 2

     

    

 

		2.6	Licensor’s
                                            Use of Intellectual Property. This Agreement shall not be deemed to restrict or prohibit
                                            Licensor’s right to use, or to license others to use, the Technical Information for
                                            any purpose.

 

		2.7	Disclosure
                                            by Licensee. To the extent that Licensee plans any disclosure, documentation, or transfer
                                            of any of the Licensed Information to a third party in performance of its work under the
                                            License, Licensee shall identify to Licensor such planned disclosure, documentation, or transfer
                                            for Licensor’s prior written approval, in its sole discretion, prior to Licensee undertaking
                                            such disclosure or committing to undertake such disclosure. Licensor may require such third
                                            party to enter into a separate license agreement with terms substantially consistent with
                                            this Agreement prior to such disclosure.

 

		2.8	Ownership
                                            and Reverse Engineering. All Background Intellectual Property shall remain the sole and
                                            exclusive property of Licensor. Licensee shall not reverse engineer any Licensor Technical
                                            Information, part, or product. Licensee shall not reverse engineer, decompile or disassemble
                                            any Licensor software.

 

		3.0	License
Fees and STC License

 

		3.1	License
                                            Fee. Licensee shall pay Licensor the license fees set forth in Schedule A (collectively,
                                            the “License Fee”). The License Initiation Fee set forth in Schedule A shall
                                            be deemed non- refundable and fully earned upon the Effective Date of this Agreement. Other
                                            License Fee components shall be deemed non-refundable and fully earned on the payment dates
                                            set forth in Schedule A.

 

		3.2	Payment.
                                            Payment of the License Fee made hereunder shall be in United States currency and shall be
                                            remitted by wire transfer from Licensee’s account, including the Licensee’s name
                                            as the originator or “By order of” Licensor and issued to Licensor by wire transfer
                                            into the account identified below or other account as designated in writing by Licensor.
                                            Licensor reserves the right to reject any other form of payment. Licensee shall have no right
                                            to set off any money owed to Licensee by Licensor against any money owed by Licensee to Licensor
                                            hereunder. Licensor shall have the right to reject or accept payment-related transfers or
                                            requests without prejudice that do not comply with its then-existing finance and anti-money
                                            laundering policies.

 

Please
wire payment to:

 

[*****]

 

    Page 3

     

    

 

		4.0	SAM
STCs.

 

		4.1	SAM
                                            STCs License. Licensee hereby grants to Licensor a non-exclusive, irrevocable, perpetual,
                                            sub-licensable, non-transferable, fully paid-up license (the “SAM STC License”)
                                            to “in-draw” (as that term is used by the applicable domestic or foreign aviation
                                            authority) one or more SAM STCs into Licensor’s Type Certificate for the Caravan or
                                            otherwise install a SAM STC on a Caravan prior to the certificate of airworthiness being
                                            issued by an approved FAA process for the modification of new or used Caravans, and to market,
                                            produce, and sell such modified Caravans worldwide pursuant to such SAM STCs. The forgoing
                                            license grant includes the license of any necessary underlying Intellectual Property owned
                                            or later developed by SAM related to such SAM STCs (“SAM IP”).

 

		4.2	Other
                                            Use. Licensor covenants and agrees that the SAM STCs and SAM IP will not be used for
                                            any purpose under the SAM STC License other than that set forth in Article 4.1, unless specifically
                                            agreed to by Licensee in a separate writing.

 

		4.3	SAM
                                            Kit; No Reverse Engineering. Licensor acknowledges and agrees that any use of the SAM
                                            STCs and SAM IP to produce modified new or used Caravans pursuant to the SAM STC License
                                            will require the purchase of certain parts, components, materials, software, subassemblies,
                                            spares and services (collectively, the “SAM Kit”). The SAM STC License
                                            does not extend to, and the SAM STC License shall not be used for, the reverse engineering
                                            or manufacturing of parts or components of the SAM Kit. Furthermore, Licensor shall not reverse
                                            engineer, decompile or disassemble any Licensee software.

 

		4.4	Third
                                            Parties. Licensor shall have no right to authorize third parties to use the SAM STCs
                                            or the SAM IP pursuant to the SAM STC License without prior approval by Licensee.

 

		4.5	Ownership
                                            and Protection of SAM STCs and SAM IP. Licensor acknowledges Licensee’s exclusive
                                            right, title and interest in and to the SAM STCs and the SAM IP, and shall not at any time
                                            during the Term (as defined below) or thereafter do or permit to be done any act or thing
                                            which impairs the rights of Licensee with respect to such SAM STCs and SAM IP. This Agreement
                                            conveys to Licensor no rights with respect to the SAM STCs and the SAM IP other than specifically
                                            set forth in this Article 4. In furtherance of the foregoing, Licensor agrees to implement
                                            reasonable precautions to protect the SAM STCs and SAM IP consistent with the undertakings
                                            of Licensee with respect to the Technical Information pursuant to Article 6.2 below.

 

		5.0	Delivery
of Technical Information, Additional Information, and Engineering Services.

 

		5.1	No
                                            Additional Undertaking. Nothing in this Agreement shall be interpreted or construed as
                                            requiring Licensor to: (a) provide Licensee with any technical information, engineering services,
                                            or engineering support beyond the Technical Information; or (b) authorize Licensee to utilize
                                            the Licensed Information for any purpose other than for the Licensed Use and consistent with
                                            the terms of this Agreement. In the event Licensee determines that additional technical information,
                                            engineering services or engineering support beyond the Technical Information is required
                                            for the Licensed Use, it may request such additional technical information, engineering services
                                            or engineering support from Licensor in accordance with Article 5.2 or 5.3.

 

    Page 4

     

    

 

		5.2	Additional
Technical Information. In the event Licensee shall require additional technical information beyond that which comprises the Technical
Information (“Additional Technical Information”), Licensee shall request such Additional Technical Information from Licensor
in writing using the form in Exhibit I. Licensor will review any Licensee requests for Additional Technical Information within a reasonable
time. Licensor will advise Licensee if it is agreeable to providing the requested Additional Technical Information. Licensor reserves
the right to charge Licensee for its time and expense to provide such Additional Technical Information, in addition to the license fees
specified in Article 3, for any Additional Technical Information it agrees to provide to Licensee. All Additional Technical Information
provided or delivered by Licensor under this Agreement shall be subject to all restrictions, limitations, and permitted uses as for the
Technical Information originally provided under this Agreement.

 

		5.3	Engineering
Technical Assistance. If Licensee requires further engineering services or engineering support, the Parties may agree to provide
for such services under a “SOW” as provided for by the CESA.

 

		6.0	Ownership
and Protection of Rights

 

		6.1	Acknowledgment.
                                            Licensee acknowledges Licensor’s exclusive right, title, and interest in and to the
                                            Technical Information, and shall not at any time during the Term or thereafter do or permit
                                            to be done any act or thing which impairs the rights of Licensor with respect to such Technical
                                            Information. Licensee will never represent that it has any ownership in the Technical Information.

 

		6.2	Reasonable
                                            Precautions by Licensee. Licensee recognizes that the Technical Information is the proprietary
                                            and confidential property of Licensor. Accordingly, Licensee shall not, without the prior
                                            express written consent of Licensor, during the Term or after expiration of this Agreement,
                                            disclose or reveal to any third party, except to authorized sublicensees, or utilize for
                                            its own benefit other than pursuant to this Agreement, any Technical Information provided
                                            by Licensor. Licensee further agrees to take all reasonable and specific precautions to preserve
                                            the confidentiality of the Technical Information, including but not limited to prohibiting
                                            access to Licensor’s Technical Information against both unauthorized employees and
                                            outside visitors, signing confidentiality and non-compete agreements with authorized employees,
                                            limiting access to documents, computers, and other information media which carry Licensor’s
                                            Technical Information. Licensee shall assume responsibility that its employees, and/or assignees
                                            will similarly preserve this information against third parties. Licensee shall, prior to
                                            or concurrent with employees receiving access to Technical Information, advise such employees
                                            of their strict obligations under this Agreement and shall take necessary steps to make sure
                                            the Technical Information is securely maintained. Technical Information shall not be copied,
                                            reproduced, distributed, summarized or incorporated into compilations, derivatives, or other
                                            documents by Licensee except as may be reasonably required by Licensee for the Licensed Use
                                            and as otherwise provided herein including access by sublicensees and wherein in all cases
                                            such information shall be similarly secured as required in this Article. The provisions of
                                            this clause shall survive termination of this Agreement.

 

		6.3	Confidentiality.
                                            It is anticipated that each Party (“Receiving Party”) will obtain or has obtained
                                            information about the other Party’s business and technology beyond the Technical Information
                                            that the other Party (“Disclosing Party”) considers to be confidential. Each
                                            Party agrees to maintain the information that it receives from the other Party in confidence
                                            and not disclose it to any third party. This obligation of confidentiality, however, shall
                                            not apply to information which:

 

		(a)	is
                                            known to the public at the time of its disclosure, or becomes known to the public after the
                                            disclosure through no fault of the Receiving Party;

 

		(b)	the
                                            Receiving Party can show was in its possession after the time of the disclosure, from a third
                                            party not under an obligation of confidentiality to the Disclosing Party;

 

		(c)	the
                                            Receiving Party can show was developed by, or for, the Receiving Party independent of the
                                            disclosure by the Disclosing Party; or

 

    Page 5

     

    

 

		(d)	is
                                            required to be disclosed by law; provided that the Receiving Party must (i) promptly notify
                                            the Disclosing Party in writing; (ii) cooperate with the Disclosing Party in seeking a protective
                                            order or other appropriate remedy; (iii) furnish only the legally required portion of the
                                            information; and (iv) use its best efforts to obtain confidential treatment of the information.

 

		6.4	Confidentiality
                                            of Agreement Terms and Conditions; Disclosure. Each party agrees to maintain in strict
                                            confidence the terms and conditions contained in this Agreement. Such terms and conditions
                                            may only be disclosed to those persons within Licensor’s and Licensee’s organizations
                                            who “need to know” such information in the performance of their work responsibilities
                                            on behalf of their employer.

 

Notwithstanding
the foregoing Sections 6.3 or 6.4, Licensee shall not publicly disclose any of the Transaction Documents or information relating thereto
except in the circumstances described in this paragraph. In the event that Licensee determines upon the advice of counsel that it is
required by law or applicable regulations to disclose (each instance, a “Disclosure”) through filings with the SEC or disclosure
to investors of any of the Transaction Documents or any information related thereto, Licensee shall (i) consult with TAI to mutually
agree upon the scope and substance of the required Disclosure; provided, however, that if Licensee and TAI are unable to mutually agree
on such scope and substance, Licensee’s reasonable determination (based upon the written advice of counsel) shall control, and
(ii) deliver to TAI a copy of the applicable Disclosure and notice of the date for making such Disclosure (the “Disclosure Date”)
and use reasonable best efforts to deliver such copy of the Disclosure at least ten (10) Business Days prior to the Disclosure Date.
Licensee shall modify such Disclosure based upon the commercially reasonable comments of TAI and address any comments provided by TAI
to TAI’s reasonable satisfaction (provided such comments are delivered to Licensee no later than two (2) Business Days prior to
the Disclosure Date), , including by making any commercially reasonable requests for confidential treatment or redactions to copies of
the Transactions Documents required to be included as an exhibit to an SEC filing, provided that, in the reasonable opinion of Licensee
(upon the written advice of counsel), any such requests would not violate applicable laws or regulations with respect to the Disclosure.
In addition, Licensee shall promptly provide to TAI copies of any correspondence from a governmental authority in respect of a Disclosure
and shall cooperate in good faith with TAI in responding to such correspondence and amending the Disclosure, to the extent necessary.

 

		7.0	Technical
Information – Availability.

 

		7.1	Technical
                                            Information made available to Licensee by Licensor pursuant to this Agreement shall be provided
                                            on an “as is” basis. Nothing in this Agreement shall be interpreted or construed
                                            as requiring Licensor to develop, at Licensee’s request, additional Technical Information
                                            or to revise, modify, translate, or interpret the existing Technical Information.

 

		7.2	Licensee
                                            shall address each request for Technical Information to the Licensor technical point of contact,
                                            at the address specified in Section 14.1 or as otherwise directed by Licensor in writing.

 

    Page 6

     

    

 

		8.0	Restrictive
Markings.

 

		8.1	Technical
Information subject to this Agreement may contain markings identifying such as proprietary to Licensor or as being subject to U.S. export
control laws. Licensee shall not alter or remove any such restrictive markings. Any copies of the Technical Information authorized by
this Agreement to be reproduced by Licensee shall contain identical restrictive markings. Any compilations or incorporation of the Technical
Information in part or in whole into documents created by Licensee shall likewise carry identical restrictive markings. The Technical
Information furnished by this Agreement will be marked with and also becomes subject to the following wording: “These commodities,
technology, or software are controlled under the International Traffic in Arms Regulations (“ITAR”). Export or diversion
contrary to U.S. law is prohibited.”

 

		8.2	The
                                            Parties shall not disclose any Technical Information furnished hereunder and Licensee shall
                                            make no sales of products using the Technical Information in any manner contrary to the laws
                                            and regulations of the USA or any applicable foreign export laws and regulations. The information
                                            that the Parties may wish to disclose pursuant to this Agreement and any export of the Technical
                                            Information may be subject to the provisions of the U.S. Export Administration Act of 1979
                                            (50 USC 2401-2410), the U.S. Export Administration Regulations promulgated thereunder (15
                                            CFR 768-799), the U.S. International Traffic in Arms Regulations (22 CFR 120-130), the regulations
                                            of the Office of Foreign Assets Control of the U.S. Department of the Treasury and the U.S.
                                            Foreign Corrupt Practices Act. The Parties acknowledge that these statutes and regulations
                                            impose restrictions on export, import, and transfer to third countries and persons and entities
                                            of certain categories of data and articles, and that licenses and/or registrations from the
                                            US Department of State and/or the US Department of Commerce and/or the US Department of Treasury’s
                                            Office of Foreign Assets Control may be required before such data and articles can be disclosed
                                            or sold or exported hereunder or pursuant hereto, and that such licenses may impose further
                                            restrictions on use and further disclosure or export or use of such data and articles. Disclosure
                                            or export of such data and articles to foreign persons is subject to the above regulations
                                            regardless if the export occurs in the USA or abroad. Licensee agrees to comply with all
                                            applicable USA governmental regulations as they relate to the export, import and re-export
                                            of data, articles and the subject matter hereof. Prior to any transfer of Licensor data,
                                            Licensee shall ensure that all necessary authorizations are obtained and that all the goods
                                            and documentation to be exported or delivered that are controlled under USA export laws and
                                            regulations are accompanied by the required USA government authorizations. Licensee shall
                                            indemnify Licensor for all liabilities, penalties, losses, damages, costs, or expenses that
                                            may be imposed on or incurred by Licensor in connection with any violations of export control
                                            laws and regulations by Licensee.

 

		9.0	Indemnification

 

		9.1	Licensor
                                            agrees to indemnify, defend, and hold harmless Licensee and its Affiliates (as defined below),
                                            and its and their respective directors, officers, employees and agents, from and against
                                            any costs, expenses, damages, or liability, including without limitation costs of defense
                                            and attorneys fees (collectively, “Losses”) that Licensee may incur as a result
                                            of any suit, claim, or proceeding (each a “Claim” and collectively, “Claims”)
                                            (a) alleging that the Technical Information provided or used under this Agreement violates
                                            or infringes any third-party patent, copyright, trademark or (b) resulting from Licensor’s
                                            failure to perform this Agreement or breach of this Agreement.

 

		9.2	Licensee
                                            agrees to indemnify, defend, and hold harmless Licensor and its Affiliates (as defined below),
                                            and its and their respective directors, officers, employees, agents and successors from and
                                            against any Losses that Licensor may incur resulting from (a) Licensee’s use of the
                                            Technical Information or (b) Licensee’s failure to perform this Agreement or any breach
                                            of this Agreement.

 

		9.3	The
Parties agree to give each other prompt notice of any such Claim as soon as they receive information thereof; to tender to the indemnifying
Party the defense and handling of any such Claim, including the right at the indemnifying Party’s sole discretion to settle or
compromise such Claim at the indemnifying Party’s sole expense provided that in no such case shall any settlement or compromise
require entry of judgement against and/or admission of liability by the indemnified Party without consent; and to cooperate with the
indemnifying Party in the defense of every such Claim. The Parties agree to keep each other informed of significant developments in such
actions.

 

    Page 7

     

    

 

		10.0	Injunctive
Relief/Damages

 

		10.1	Injunctive
                                            Relief. It is expressly agreed that each Party may suffer irreparable harm from a breach
                                            by the other Party of any of its covenants contained in this Agreement, and that remedies
                                            other than injunctive relief cannot fully compensate or adequately protect such Party for
                                            such a violation. Therefore, without limiting the right of each Party to pursue all other
                                            legal and equitable remedies available for violation of this Agreement, in the event of actual
                                            or threatened breach by the other Party of any of the provisions of this Agreement, each
                                            Party consents that the other Party shall be entitled to seek injunctive or other relief
                                            in order to enforce or prevent any such violation or continuing violation thereof. Each Party
                                            acknowledges and agrees that the provisions of this paragraph are reasonably necessary and
                                            commensurate with the need to protect the other Party against irreparable harm and to protect
                                            its legitimate and proprietary business interests and property.

 

		10.2	Damages.
                                            Neither Party shall be liable for special, indirect, incidental, punitive, consequential
                                            or any similar damages (including, without limitation, damages for loss of business profits,
                                            business interruption or any other loss), whether or not caused by or resulting from the
                                            negligence of such Party, even if such Party has been advised of the possibility of such
                                            damages.

 

		11.0	Insurance

 

		11.1	Insurance.
                                            Licensee shall acquire and maintain at its sole cost and expense, including any deductibles
                                            or self-insured retentions, throughout the Term and for a period of five (5) years following
                                            the termination or expiration of this Agreement, the following insurance coverages:

 

(a) Comprehensive
General Liability insurance in the amount of [*****] per occurrence and  [*****] in aggregate;

 

(b) Aviation
Products Liability insurance for a Combined Single Limit (Bodily and Property Damage) in the amount of  [*****],
whichever is greater (as to this particular coverage only, it is not required until the activities utilizing the Technical Information
include any high speed taxi or flight test activities, in which case such coverage shall be bound no later than sixty (60) days prior
to such activities occurring);

 

(c) Property
Insurance against loss of or damage to any materials or tools in an amount equivalent to replacement cost value of the material and/or
tools in the event the aforesaid materials and tools are owned by or furnished by Licensor and supplied to Licensee; and

 

(d) Workers
Compensation Insurance with statutory limits as required in the state(s) of operation and providing coverage for any employee entering
onto Licensor premises, even if not required by statute. Employer’s Liability or “Stop Gap” insurance with limits of not
less than  [*****] each accident, each person and each disease.

 

For
sake of clarity of expectations, should at some point in the future the Parties enter into a long- term supply agreement the insurance
limits set forth above shall be increased and/or adjusted to be comparable to TAI’s then current insurance requirements for suppliers
of similar type systems.

 

    Page 8

     

    

 

Insurance policies shall (i) include Licensor and its respective directors, officers, employees and agents as
additional insured parties; (ii) contain an endorsement which requires that thirty (30) days written notice be given to Licensor prior
to any material change, cancellation, nonrenewal, or material change of the policy; and (iii) provide adequate protection for Licensee,
Licensor, and their respective officers, employees, and agents against the Claims, demands, causes of action or damages, including attorney’s
fees, for liability hereunder, regardless of when such Claims are made or when underlying injuries occur or manifest themselves. Insurance
policies shall not contain crossclaim, cross-suit, or other such exclusion clauses which would preclude additional insured parties from
instituting causes of action against other insureds under the policy or which would otherwise limit coverage of additional insureds.
In the event Licensee’s insurance is canceled or not renewed and replacement insurance is not obtained prior to the effective date
of such cancellation or nonrenewal, Licensor shall have the right to procure such coverage and charge the expenses incurred to Licensee.
Upon request, Licensee shall furnish a copy of the insurance policy to Licensor. Failure to maintain this coverage shall be considered
a material breach of this Agreement.

 

		11.2	Certificate
of Insurance. Prior to the delivery of any Technical Information under this Agreement, original signed certificates issued by Licensee’s
insurance company or insurance broker evidencing the insurance required above shall be provided to TAI at the following address:

 

[*****]

 

Such
certificates shall set forth, minimally, the amount of insurance, the additional insured endorsement, the policy number, the date of
expiration, and an endorsement that the TAI shall receive thirty (30) days written notice prior to termination, reduction or material
modification of the coverage. Certificates shall be furnished to TAI upon renewal of insurance. In the event Licensee has not provided
its certificate of insurance as required herein, TAI shall have the right to procure such coverage and charge the expense incurred, plus
any applicable deductibles or self-insured retentions applied to a claim, to Licensee. Failure to maintain the required insurance or
to provide a certificate of insurance that complies with this provision shall be considered a material breach of this Agreement.

 

		12.0	Termination
and Expiration

 

		12.1	The
                                            term of this Agreement (the “Term”), and the license granted under Section 2.1,
                                            shall commence as of the Effective Date and continue for the useful life of the SAM STCs
                                            (which shall in no event extend beyond any surrender of the SAM STC) unless sooner terminated
                                            under operation of law or in accordance with the terms and conditions herein.

 

		12.2	Licensor’s
                                            Immediate Right of Termination. Unless otherwise provided herein, Licensor shall have
                                            the right to terminate this Agreement and the license hereby granted upon written notice
                                            to Licensee upon the occurrence of any of the following events:

 

(a)
upon the commencement of a voluntary or involuntary case or other proceeding by or against Licensee seeking liquidation,
reorganization or other relief under any bankruptcy, insolvency or other similar law now or hereafter in effect, which in the case
of an involuntary proceeding is not stayed or lifted within thirty (30) days; the application for or consent to the appointment of a
receiver, trustee, liquidator or custodian by Licensee for itself or of all or a substantial part of its property; the making by
Licensee of a general assignment for the benefit of any of its creditors; or the taking by Licensee of any action for the purpose of
effecting any of the foregoing;

 

    Page 9

     

    

 

(b) Licensee
breaches the Confidentiality obligations as provided in Article 6 and does not cure the breach, or take diligent actions to commence
curing the breach, within thirty (30) days of written notice by Licensor;

 

(c) Licensee
fails to indemnify Licensor and its Affiliates, and its and their respective directors, officers, employees and agents, as required by
Article 9 of this Agreement;

 

 (d) Licensee undergoes a Change of Control, as defined in the CESA;

 

(e) The
APA is terminated prior to the delivery of the one-hundredth (100th) Caravan thereunder, except in the event that TAI announces its intention
to discontinue production of new Caravans or ceases production of new Caravans prior to delivery of the one-hundredth (100th) Caravan
pursuant to the APA;

 

(f) Licensee
fails to pay any part of the License Fee when due, and such failure to pay is not cured by Licensee within fifteen (15) days of written
notice from Licensor to Licensee; or

 

 (g) if the Effective Date does not occur on or prior to March 31, 2023.

 

		12.3	Licensee’s
Immediate Right of Termination. Unless otherwise provided herein, Licensee shall have the right to terminate this Agreement and the
license hereby granted upon written notice to Licensor upon the occurrence of any of the following events:

 

(a) upon
the commencement of a voluntary or involuntary case or other proceeding by or against Licensor seeking liquidation, reorganization or
other relief under any bankruptcy, insolvency or other similar law now or hereafter in effect, which in the case of an involuntary proceeding
is not stayed or lifted within thirty (30) days; the application for or consent to the appointment of a receiver, trustee, liquidator
or custodian by Licensee for itself or of all or a substantial part of its property; the making by Licensor of a general assignment for
the benefit of any of its creditors; or the taking by Licensor of any action for the purpose of effecting any of the foregoing;

 

(b) Licensor
breaches any of the conditions or provisions of this Agreement and fails to cure within sixty (60) days after receiving written notice
from Licensee or fails to take reasonable steps to cure the violation within sixty (60) days after receiving written notice from Licensee;

 

(c) Licensor
fails to indemnify Licensee and its Affiliates, and its and their respective directors, officers, employees and agents, as required by
Article 9 of this Agreement; or

 

(d) if
Licensor terminates the Exclusivity Period, as defined in the Sales and Marketing Agreement.

 

		12.4	Licensee’s
                                            Right of Discretionary Termination. Licensee shall have the right to terminate this Agreement
                                            and the license hereby granted in its sole discretion upon written notice to Licensor and
                                            payment in full of all License Fees otherwise payable within nine (9) months following the
                                            date of such notice.

 

    Page 10

     

    

 

		12.5	Duties
                                            Upon Expiration/Termination. Upon expiration or termination of this Agreement, Licensee
                                            shall immediately discontinue use of the Licensed Information. Upon Licensor’s written
                                            request, Licensee shall return the Technical Information, documents and any other tangible
                                            or electronically recorded manifestations containing Licensed Information and other documents
                                            and any other tangible or electronically recorded manifestations that include or are derivative
                                            works of the Technical Information to Licensor and Licensee shall make no further use of
                                            the Licensed Information whatsoever; provided that, notwithstanding anything to the contrary
                                            in this Agreement, Licensee shall retain all ownership rights in, including the right to
                                            license third parties to use, the SAM STCs and SAM IP. As an alternative Licensor may require
                                            Licensee to destroy all copies of the Licensed Information in the possession of Licensee
                                            and provide Licensor with a certificate evidencing such destruction signed by an appropriate
                                            corporate officer. The limitations and restrictions on the use and disclosure of Licensed
                                            Information created by this Agreement shall survive the expiration or termination of this
                                            Agreement.

 

		12.6	The
                                            following shall survive the termination of this Agreement:

 

(a) any
obligation accruing prior to such expiration or termination including the payment of license fees or other fees due;

 

(b) any
cause of action or claim of Licensor or Licensee, accrued or to accrue, because of any breach or default by the other party; and

 

(c) provisions
of Articles 2.2, 2.3, 2.8, 4.2, 4.3, 4.4, 4.5, 6, 8, 9, 10, 11, 12.5 and 14.9.

 

		13.0	Representations,
Warranties and Disclaimer.

 

		13.1	Each
                                            Party represents and warrants that it has all the rights, power and authority to enter into
                                            this Agreement. Each Party represents and warrants that it owns, controls, or has previously
                                            been granted the necessary rights in and to any Intellectual Property which enables it to
                                            grant to the other the rights granted herein.

 

		13.2	EXCEPT
                                            FOR THE EXPRESS WARRANTIES CONTAINED HEREIN AND SUBJECT TO ARTICLE 13.1, NO WARRANTY, GUARANTEE,
                                            OR REPRESENTATION WITH RESPECT TO THE TECHNICAL INFORMATION OR ITS SUITABILITY FOR THE PURPOSES
                                            CONTEMPLATED BY LICENSEE IS MADE BY LICENSOR. LICENSEE SHALL RELY SOLELY ON ITS OWN EXPERTISE
                                            AND EXPERIENCE IN DETERMINING WHETHER THE TECHNICAL INFORMATION IS SUITABLE AND SUFFICIENT
                                            FOR LICENSEE’S INTENDED PURPOSES. EXCEPT FOR THE EXPRESS WARRANTIES CONTAINED HEREIN
                                            AND TO THE EXTENT ALLOWED BY LAW, LICENSOR DISCLAIMS, AND LICENSEE WAIVES, ALL WARRANTIES
                                            PERTAINING TO THE TECHNICAL INFORMATION WHETHER EXPRESS OR IMPLIED, AND WHETHER OF MERCHANTABILITY,
                                            FITNESS FOR A PARTICULAR PURPOSE, OR OTHERWISE.

 

		13.3	Brokers.
                                            Each Party hereby represents and warrants to the other that it has not employed or dealt
                                            with any broker or finder in connection with this Agreement or the transactions contemplated
                                            hereby.

 

    Page 11

     

    

 

		14.0	Miscellaneous

 

		14.1	Notices,
Statements, and Payments. All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in
writing and shall be deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) when received by
the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or e-mail of
a PDF document (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next Business Day
if sent after normal business hours of the recipient; or (d) on the third business day after the date mailed, by certified or registered
mail, return receipt requested, postage prepaid. Such communications must be sent to the respective parties at the following addresses
(or at such other address for a party as shall be specified in a notice given in accordance with this Section).

 

	 	If to the Licensor:	Textron Aviation Inc.
	 	 	 
	 	 	[*****]
	 	 	 
	 	with copies to:	Textron Aviation Inc.
	 	 	 
	 	 	[*****]
	 	 	 
	 	If to SAM:	Surf Air Mobility Inc.
	 	 	 
	 	 	[*****]
	 	 	 
	 	with a copy to:	Surf Air Mobility Inc.
	 	 	 
	 	 	[*****]

 

		14.2	Independent
                                            Contractors. Licensee shall not state or imply, directly or indirectly, that Licensee
                                            or its activities, other than those provided herein, are supported, endorsed or sponsored
                                            by Licensor. It is understood that the relationship between the Parties shall be that of
                                            independent contractors; that this agreement shall not be construed to create a partnership
                                            or joint venture; and that neither Party shall have any right or power to obligate, bind,
                                            or commit the other to any expense, liability, or matter other than as expressly provided
                                            and authorized in this Agreement, and that the officers, employees, and agents or other representatives
                                            of one Party shall not be deemed expressly or impliedly the employees, partners, joint ventures
                                            or agents of the other.

 

    Page 12

     

    

 

		14.3	Assignment.
                                            Neither Party shall assign, transfer, delegate or subcontract any of its rights or delegate
                                            any of its obligations under this Agreement without the prior written consent of the other
                                            Party, which shall not be unreasonably withheld or delayed; provided that (i) either Party
                                            may, without the prior written consent of the other Party, assign this Agreement and its
                                            rights hereunder to one or more of its Affiliates, or a successor in interest to such Party
                                            by name change or otherwise, and (ii) each of TAI and TII may assign any of its rights or
                                            delegate any of its obligations to any person acquiring all or substantially all of TAI’s
                                            or TII’s assets without Licensee’s consent. Any purported assignment or delegation
                                            in violation of this Section 14.3 shall be null and void. No assignment or delegation shall
                                            relieve either Party of any of its obligations under this Agreement. As used in this Agreement,
                                            “Affiliate” means, with respect to any Person, any other Person that, directly
                                            or indirectly, controls, is controlled by or is under common control with such Person, where
                                            control may be by either management authority, contract or equity interest. As used in this
                                            definition, “control” and correlative terms mean the power to direct or cause
                                            the direction of the management and policies of a Person, directly or indirectly, whether
                                            through the ownership of voting securities, by contract or otherwise.

 

		14.4	Election
                                            of Remedies. The remedies provided herein are not exclusive of any other lawful remedies
                                            that may be available, and a Party’s election of a remedy shall not constitute an exclusive
                                            election of remedies.

 

		14.5	Further
                                            Assurances and Cooperation. Each Party agrees to execute and deliver to the other Party
                                            such other instruments, documents, and statements, including without limitation, instruments
                                            and documents of recordation, assignment, transfer, conveyance, and clarification and take
                                            such other action as may be reasonably necessary or convenient in the discretion of the requesting
                                            Party to carry out more effectively the purposes of this Agreement. Unless otherwise provided,
                                            no consent or approval provided for in this Agreement may be unreasonably withheld or delayed.

 

		14.6	Force
                                            Majeure. Neither Party shall be deemed in default or otherwise liable hereunder due to
                                            its inability to perform (except for any obligations of Licensee to pay Licensor hereunder)
                                            by reason of any act of God, fire, earthquake, flood, epidemic, pandemic, quarantine, accident,
                                            explosion, casualty, strike, lockout, slowdown, labor controversy or other industrial disturbances,
                                            riot, civil disturbance, act of public enemy, embargo, war, any municipal, county, state,
                                            national or international ordinance or law, any executive, administrative, judicial or similar
                                            order (which order is not the result of any act or omission to act which would constitute
                                            a default under this Agreement), government action or inaction, delay in supplier deliveries,
                                            any failure or delay of any transportation, power, or other essential thing required, or
                                            similar causes beyond the Party’s control. In such case, the Party affected by the
                                            force majeure shall notify the other Party of its inability to perform. Any delay in performance
                                            shall be no greater than the event of force majeure causing the delay.

 

		14.7	Governing
Law/Forum. The Parties agree this Agreement will be deemed made and entered into and will be performed wholly within the State of
Kansas and any dispute arising under, out of or related in any way to this Agreement, the legal relationship between Licensor and Licensee
or the transaction that is the subject matter of this Agreement (collectively “Dispute”) will be governed and construed under
the laws of the State of Kansas, USA, exclusive of conflicts of laws. Any Dispute will be adjudicated solely and exclusively in the United
States District Court for the State of Kansas, in Wichita, Kansas or, if that court lacks jurisdiction, Kansas state courts of the 18th
Judicial District. Each of the Parties (i) consent to the exclusive, personal jurisdiction of these courts and, by signing this Agreement,
waive any objection to venue of these Kansas courts and (ii) agree that final judgment brought in these courts will be conclusive and
binding upon the parties and may be enforced in any other courts with jurisdiction over the parties.

 

    Page 13

     

    

 

		14.8	Waiver
of Jury Trial. EACH PARTY ACKNOWLEDGES THAT ANY CONTROVERSY THAT MAY ARISE UNDER THIS AGREEMENT INCLUDING EXHIBITS, SCHEDULES, ATTACHMENTS,
AND APPENDICES ATTACHED TO THIS AGREEMENT, IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH SUCH PARTY IRREVOCABLY
AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTION ARISING OUT OF OR RELATING TO THIS
AGREEMENT, INCLUDING ANY EXHIBITS, SCHEDULES, ATTACHMENTS OR APPENDICES ATTACHED TO THIS AGREEMENT, OR THE TRANSACTIONS CONTEMPLATED
HEREBY.

 

		14.9	Entire
Agreement. This Agreement and any attached schedules and exhibits constitute the entire agreement between the Parties pertaining
to the subject matter contained herein and supersedes all prior and contemporaneous agreements, representations, communications and understandings
of the Parties. Each of the Parties acknowledges that no other party, nor any agent or attorney of any other party, has made any promise,
representation, or warranty whatsoever, express or implied, and not contained herein, concerning the subject matter hereof to induce
the Party to execute or authorize the execution of this Agreement, and acknowledges that the Party has not executed or authorized the
execution of this instrument in reliance upon any such promise, representation, or warranty not contained herein. For the avoidance of
doubt, each of the Transaction Documents govern as to their respective subject matter independently, and without integration.

 

		14.10	Survival
of Rights and Obligations. Termination or expiration of this Agreement shall not impair any rights or obligations of Licensor and
Licensee, including but not limited to payments, statements of account, compliance review, disposition of inventory, maintenance of insurance,
warranties, and indemnification.

 

		14.11	Joint
Drafting. This Agreement is to be construed as if drafted jointly by the Parties and no presumption will arise favoring or disfavoring
either Party by virtue of the authorship of any provision of this Agreement.

 

		14.12	Amendment.
No modification to this Agreement will be effective unless in writing as an amendment to this Agreement, which specifically references
this Agreement, and is signed by both Parties.

 

		14.13	Successors
and Assigns. This Agreement is binding on and inures to the benefit of the Parties to this Agreement and their respective permitted
successors and permitted assigns.

 

		14.14	No
Third-Party Beneficiaries. This Agreement benefits solely the Parties to this Agreement and their respective permitted successors
and assigns and nothing in this Agreement, express or implied, confers on any other Person any legal or equitable right, benefit or remedy
of any nature whatsoever under or by reason of this Agreement.

 

		14.15	Severability.
The provisions of this Agreement shall be severable, and if any provision of this Agreement shall be held or declared to be illegal,
invalid, or unenforceable in any jurisdiction, such illegality, invalidity or unenforceability shall not affect any other provision hereof
or the interpretation and effect of the Agreement as to any other jurisdiction, and the remainder of the Agreement, disregarding such
illegal, invalid or unenforceable provision, shall continue in full force and effect as though such illegal, invalid, or unenforceable
provision had not been contained herein.

 

    Page 14

     

    

 

		14.16	Waiver.
No waiver by any Party of any of the provisions of this Agreement shall be effective unless explicitly set forth in writing and signed
by the Party so waiving. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising, any right,
remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof, nor shall any single or partial
exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other
right, remedy, power or privilege. No waiver shall constitute a continuing waiver.

 

		14.17	Counterparts;
                                            Electronic Signatures. This Agreement may be executed in counterparts, each of which
                                            shall be deemed to be an original and both together shall be deemed to be one and the same
                                            agreement. Counterpart signature pages to this Agreement transmitted by facsimile transmission,
                                            by electronic mail in “portable document format” (.pdf) form, or by any other
                                            electronic means intended to preserve the original graphic and pictorial appearance of a
                                            document will have the same effect as physical delivery of the paper document bearing an
                                            original signature. By signing below, the signatories to this Agreement verify they have
                                            full authority to bind and do hereby bind their respective Parties.

 

[SIGNATURE
PAGE FOLLOWS]

 

    Page 15

     

    

 

IN
WITNESS WHEREOF, the following signatures represent that the Parties have read this Agreement in its entirety, including the incorporated
and attached Schedules, and by their execution below have agreed to all of its terms and conditions.

 

	Textron
    Aviation Inc.	 	Surf
    Air Mobility Inc.
	 	 	 
	By:	[*****]	 	By:	/s/
    Sudhin
    Shahani 
	Name:  
    	[*****]	 	Name:  	Sudhin
    Shahani
	Title:
    	[*****]	 	Title:	CEO

 

	Textron Innovations Inc.	 
	 	 	 
	By:	[*****]	 
	Name:  	[*****]	 
	Title:	[*****]	 

 

Signature
Page to Data License Agreement

 

     

     

    

 

Data
License Agreement

Schedule A

 

Aircraft:
The following Caravan is covered under this Agreement: Cessna Model 208B Grand Caravan EX, Type Certificate A37CE

 

Technical
Information: Technical Information shall consist of the following:

 

		1.	Documents
                                            including propulsion and fuel system interface parameters.

		2.	Wiring
                                            diagrams and electrical system documents as it pertains the generator interfaces with aircraft
                                            electrical buses.

		3.	Propulsion
                                            fault analysis related documents.

		4.	Structural
                                            substantiation documentation for fuselage, engine mount, and landing gear. External loads
                                            documents for the aircraft.

		5.	Weight
                                            and balance data. Documents outlining component mass properties.

		6.	Aeroelastic
                                            stability and ground vibration test documentation.

		7.	Environmental
                                            control system interface documents

		8.	[*****]

		9.	Cockpit,
                                            fuselage, and landing gear drawings. Fuselage systems routing drawings.

		10.	[*****]

 

Requests
for specific additional Technical Information shall use the form attached in Exhibit I.

 

License
Fees:

 

License
Initiation Fee:

 

Licensee
shall pay to Licensor a License Initiation Fee of $[*****] United States dollars. The License Initiation Fee shall be due within
10 days of the Effective Date and the terms of the license grant are contingent upon payment in full.

 

License
Sustaining Fees:

 

Licensee
shall pay to Licensor a Sustaining License Fee of [*****] United States dollars in respect of the License, which shall be payable
by Licensee during from the period commencing upon issuance of a SAM STC (the “SAM STC Issuance Date”) and continuing through
the eighth anniversary thereof (the “License Payment Period”), as follows:

 

		(a)	Subject
to subclause (b) below, Licensee shall pay to Licensor the following License Fees during the License Payment Period.

 

	Fee Amount	 	Payment Date
	[*****]	 	[*****]
	[*****]	 	[*****]
	[*****]	 	[*****]
	[*****]	 	[*****]
	[*****]	 	[*****]
	[*****]	 	[*****]
	[*****]	 	[*****]
	[*****]	 	[*****]

 

     

     

    

 

		(b)	Licensee
                                            shall receive an aggregate credit toward either the License Fee or the Exclusivity Fee (as
                                            defined in the Sales and Marketing Agreement) of [*****] for each Qualifying Event, as defined
                                            below. Each credit may only be applied against one fee.

 

Such
credit shall be applied (i) first, as an offset against Licensee’s obligation to pay unpaid License Fees in such contract year,
(ii) second, as an offset against Licensee’s obligation to pay unpaid Exclusivity Fees in such contract year, and (iii) thereafter
as an offset against the unpaid License Fees and then unpaid Exclusivity Fees in successive future contract years. No credit may be applied
to License Fees or Exclusivity Fees that have previously been paid to Licensor. For the avoidance of doubt, if all fees have been paid,
no credit shall be applied or payable in cash.

 

“Qualifying
Event” means (i) Licensee’s firm order, accompanied by a deposit of at least [*****] as specified in the applicable
aircraft purchase agreement, for a new Caravan delivered with Licensee’s electrified propulsion system (in excess of the 100
total Caravans contemplated by the APA), (ii) any firm order by a third party, accompanied by a deposit of at least [*****] and
which is reflected in TAI’s order backlog in accordance with its standard accounting practices, for a new Caravan delivered
with Licensee’s electrified propulsion system, and (iii) TAI’s sale of a new Caravan to Licensee or a third party, which
is inducted into service at a maintenance, repair and overhaul facility for conversion to Licensee’s electrified propulsion
system pursuant to a SAM STC within 90 days of the later of (x) its delivery and (y) if such intended conversion is identified by
Licensee at the time of the underlying aircraft sale, the SAM STC Issuance Date (in each case, measured at the time it is inducted
for such conversion).

 

     

     

    

 

Exhibit
I

 

Engineering Data Request Form

 

Request
Number:

 

Requestor:

 

Prime
Contract:

 

Purchase
Order:

 

Aircraft
Model:

 

Aircraft
Serial Number(s):

 

Requested
Drawing Number:

 

Brief
Description of the Need and Intended Use:

 

Notes:

 

 

Date:

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