SEPARATION AND DISTRIBUTION AGREEMENT DATED AS OF FEBRUARY 13, 2025 by and among JET.AI INC., JET.AI SPINCO, INC. and FLYEXCLUSIVE, INC.Separation and Distribution Agreement • February 20th, 2025 • Jet.AI Inc. • Air transportation, nonscheduled • Delaware
This SEPARATION AND DISTRIBUTION AGREEMENT (this “Agreement”), dated as of February 13, 2025, is entered into by and among Jet.AI Inc., a Delaware corporation (“Jet.AI”), Jet.AI SpinCo, Inc., a Delaware corporation and a wholly owned subsidiary of Jet.AI (“SpinCo”), and flyExclusive, Inc., a Delaware corporation (“flyExclusive”). “Party” or “Parties” means Jet.AI and SpinCo, individually or collectively, as the case may be. Terms with initial capitalized letters used herein (including in the immediately preceding sentence) and not otherwise defined herein have the meanings set forth in Section 1.1 hereof.
SEPARATION AND DISTRIBUTION AGREEMENT DATED AS OF FEBRUARY 13, 2025 by and among JET.AI INC., JET.AI SPINCO, INC. and FLYEXCLUSIVE, INC.Separation and Distribution Agreement • February 19th, 2025 • Flyexclusive Inc. • Air transportation, nonscheduled • Delaware