Aircraft Ownership Programs
Scheduling and Use Policies

1. Definitions

Aircraft: The specific aircraft owned by the member documented on the filed FAA aircraft registration.

Base: The physical location the aircraft is stored when not in possession of a member.

Trip: All planned or actual points of takeoff and/or landing, originating at the location where the member took possession of the aircraft, and ending at the last point of landing, planned or actual, prior to transferring possession of the aircraft.

Reservation: The scheduled length of time a member will possess the aircraft.

Leg: The period of time and distance an aircraft operates between a departure point and a landing point.

Hobbs meter: The instrument that records aircraft time from engine start to engine shutdown.

Flight meter: The instrument that records aircraft time from takeoff to touchdown.

Calendar day: A twenty-four (24) hour period beginning at 00:00 and ending at 23:59.

"Use" day: Five (5) hours of aircraft time, as measured by the "Flight meter," accrued within a "Calendar day" in the time zone in which the aircraft is located at the start of the day. Used for planning and bookkeeping purposes only — it is not used to assess any fee or penalty, and it has no direct correlation to member usage.

"Non-use" day: A planned or unplanned non-usage of the aircraft for a "Calendar day" while a member has possession of the aircraft. Determined by the time zone where the aircraft last terminated operations for the day.

Member: Any registered Member of the program and, for the purposes of this Agreement, shall also include any Lessee, who shall be entitled to the same rights, privileges, and obligations as a Member unless otherwise specified.

2. Aircraft Scheduling

A. Schedule Management Software

bop Aero uses Flight Circle to manage each aircraft's schedule. All member new reservations, modifications, and cancellations are managed through the web-based app. The manager will provide all new members access upon entry into an aircraft program. A web-based user guide is provided that can answer most questions regarding use of the software.

B. Prior to Aircraft Acquisition

1. The first date available for aircraft usage will be the projected acquisition date of the aircraft plus seven (7) days. The manager will notify members if the planned acquisition date changes.
2. When the scheduling window opens, the scheduling order will be determined by members' aircraft ownership equity, highest to lowest. When ownership equity is the same, scheduling order will be determined by the date at which the member purchased their ownership equity (seniority). The manager will notify each member electronically when their scheduling window will open and close.
3. Waitlist: In the event the aircraft has been reserved for the date and time another member wishes to reserve the aircraft, members may add themselves to the aircraft waitlist for the date(s) and times desired. The list order will be determined on a "first come, first serve" basis. Reservations added to the waitlist during the scheduling window are only valid for the remainder of the year. Waitlist (or Backup) reservations are added in the same way a normal reservation is added. However, the scheduler will not allow two normal reservations to overlap. To solve this, click the "Make Backup" button to add the Backup reservation. The waitlisted reservation will be displayed as a "Backup" reservation on the schedule.

C. Annual Aircraft Scheduling

1. Each year there will be a thirty-one (31) day window beginning on November 1st and ending November 30th to allow for aircraft scheduling for the upcoming year. In the event that the initial aircraft acquisition occurs after this day but prior to December 31st, then the annual aircraft scheduling for the upcoming year will be for thirty (30) days following the close of the initial acquisition scheduling window. If there is less than thirty (30) days remaining in the year, annual aircraft scheduling for the upcoming year will be integrated into the initial acquisition scheduling window.
2. When the scheduling window opens, the scheduling order will be determined by the following rules:

   Scheduling Order

   1. Highest ownership equity.
   2. Founder's Circle members with the highest ownership equity.
   3. Founder's Circle members by purchase date (seniority).
   4. Non-Founder's Circle members with the highest ownership equity.
   5. Non-Founder's Circle members by purchase date (seniority).

   The manager will notify each member electronically when their individual scheduling window will open.

   1. SR22T: Each member share will have one and a half (1.5) days to reserve the aircraft for the upcoming year during their scheduling window.
   2. SF50: Each member will have three (3) days to reserve the aircraft for the upcoming year during their scheduling window.
3. Waitlist: In the event the aircraft has been reserved for the date and time another member wishes to reserve the aircraft, members may add themselves to the aircraft waitlist for the date(s) and times desired. The list order will be determined on a "first come, first serve" basis. Waitlist (or Backup) reservations are added in the same way a normal reservation is added. However, the scheduler will not allow two normal reservations to overlap. To solve this, click the "Make Backup" button to add the Backup reservation. The waitlisted reservation will be displayed as a "Backup" reservation on the schedule.

D. Daily Aircraft Scheduling

Beginning on January 1st each year at midnight (00:00) in the timezone the aircraft is based (base local time), "Daily Aircraft Scheduling" will begin and will remain open twenty-four (24) hours a day, every day, until December 31st at 23:59 (base local time).

"Daily Aircraft Scheduling" will be on a "first come, first serve" basis.

Waitlist: In the event the aircraft has been reserved for the date and time another member wishes to reserve the aircraft, members may add themselves to the aircraft waitlist for the date(s) and times desired. The list order will be determined on a "first come, first serve" basis. Waitlist (or Backup) reservations are added in the same way a normal reservation is added. However, the scheduler will not allow two normal reservations to overlap. To solve this, click the "Make Backup" button to add the Backup reservation. The waitlisted reservation will be displayed as a "Backup" reservation on the schedule.

E. Cancellations & Modifications

Cancellations

Cancellations may be made to a reservation up to forty-eight (48) hours prior to the start time of the reservation with no fee assessed.

All cancellations made by a member within forty-eight (48) hours prior to the start time of their reservation will be charged a late cancellation fee:

Modifications

Modifications can be made to a reservation provided:

1. The modification does not affect another member's reservation.
2. A shortened reservation complies with the cancellation policy (as described above) for the day(s) cancelled from the modified reservation. However, in the event the "waitlisted" owner agrees to accept the aircraft as a result of the shortened modification, the cancellation policy does not apply.

3. Aircraft Access

Manager Responsibilities

1. The manager will maintain access and control of the aircraft when it is not under the control and/or use by a member.
2. All aircraft access and control by the manager for aircraft management purposes is not subject to the policies of this section.
3. The manager will transfer access and control of the aircraft to a member, either directly or indirectly, by the start time of their reservation.

Member Responsibilities

Members will transfer control of the aircraft to the manager, either directly or indirectly, at the conclusion of their reservation.

4. Aircraft Operation & Use

Members are entitled to use the aircraft within the scheduled "footprint" of the reservation that is made.

While in possession of the aircraft, members will maintain control, operationally or otherwise, in accordance with FAR Part 91. Additionally, if the member is a lessee, the terms of the lessee's dry lease agreement.

The manager will not provide operational planning and execution of any nature. For other than described above, the manager will assist members as necessary.

Pilot in Command

The member may act as Pilot in Command of the aircraft.

Any pilot other than the member must be verified by the manager before acting as Pilot in Command. A member who wishes to have another pilot operate the aircraft will contact the manager to confirm that pilot's eligibility. No pilot other than the member may act as Pilot in Command until the manager has confirmed that pilot's eligibility.

Program pilot experience requirements may be more restrictive than the minimum pilot requirements of the aircraft insurance policy.

Before first acting as Pilot in Command, each member and each pilot approved by the manager will complete an initial aircraft checkout arranged by the manager.

Flight instruction, recurrent training, and proficiency flying may be conducted in the aircraft only with a flight instructor approved in advance by the manager.

Passengers

Members may carry passengers on any flight. Members may share the pro-rata share of operating expenses with passengers only to the extent permitted by FAR 61.113(c), and may accept no other compensation or reimbursement of any kind.

Permitted Use

The aircraft will be operated solely under FAR Part 91. Members may not operate the aircraft for compensation or hire, hold the aircraft out to the public, or conduct any operation requiring certification under FAR Part 119 or Part 135.

This does not restrict a member's personal or business transportation, or the cost sharing described above.

Aircraft Delivery

The manager will deliver the aircraft at the member's reservation time at a mutually agreed upon location acceptable to the member and the manager.

• All delivery costs associated with repositioning the aircraft to a location other than the location where it was last returned are the responsibility of the member.
• All operational planning, control, and costs are the responsibility of the member requesting the aircraft reposition.
• Any reposition costs that are a result of aircraft maintenance (scheduled or unscheduled) will be paid from the aircraft's operating account. For leases, costs will be paid by the lessee for unscheduled maintenance caused by the lessee.

Fuel Level at Delivery

Unless otherwise stipulated by the member, the aircraft will be delivered with the following fuel level:

All aircraft will be fueled to the levels indicated above, unless:

• A member who wishes for the aircraft to be delivered with a fuel load greater than indicated above must inform the manager prior to the start of their reservation.
• A member who wishes for the aircraft to be delivered with a fuel load less than indicated above must inform the manager as soon as possible, but no later than two (2) hours prior to the start of their reservation. While the manager will make every effort to accommodate the request, if the aircraft returned from the previous reservation with a higher fuel level, the manager may not be able to accommodate.

Aircraft Operation

Members are expected to operate the aircraft in accordance with the policies, procedures, and limitations outlined in the Cirrus Aircraft Pilot's Operating Handbook (POH) and Cirrus Flight Operations Manual (FOM). Failure to operate the aircraft as prescribed or in a manner deemed "careless and reckless" may result in fees and/or penalties up to and including loss of aircraft access and removal from the program. Aircraft data is logged and parsed through Cirrus IQ and evaluated through FlySto.net (and other data interpretation companies). This data is used for the sole purpose of maintaining the safety of every owner and their aircraft. Furthermore, this has the additional benefit of promoting the best insurance premiums for our shared owners.

Runway & Surface Requirements

The aircraft will be operated only to and from paved, published, public-use runways meeting the following minimum lengths:

Operations to turf, grass, gravel, dirt, or other unimproved surfaces are prohibited.

Weather Operations

The Pilot in Command is responsible for all weather-related decisions and will operate within the limitations of the POH and the Cirrus Flight Operations Manual.

Flight Into Known Icing

Any pilot who operates or plans to operate the aircraft into known icing conditions will have completed the Cirrus Icing Awareness Course for the specific aircraft to be flown within the preceding twenty-four (24) calendar months.

All ice protection equipment will be fully serviceable, with adequate fluid quantity for the intended flight.

SR22T Operating Limitations

Cruise Power & Temperature

In addition to complying with the policies outlined above, members will consider the maximum operational cruise power setting to be 75% power (based on the cruise performance data in Section 5 of the POH), and will observe a maximum Turbine Inlet Temperature (TIT) of 1600°F during cruise flight. These have been set by the Manager for engine longevity.

Ground Operations

Brake use while taxiing will be limited to that necessary to control or stop the aircraft. Members will avoid riding the brakes and will avoid taxiing at power settings that require continuous braking, as both cause premature brake wear.

The POH limits propeller speed during taxi to 1000 RPM. Members may apply a higher setting only as necessary to maintain movement, up to a maximum of 1500 RPM and for periods of ten (10) seconds or less. Propeller speed during taxi will not exceed 1500 RPM.

Failure to observe these ground operating limits is a failure to operate the aircraft as prescribed and may result in fees or penalties as described above, including the cost of premature brake or tire replacement, or of propeller repair, attributable to improper technique.

SF50 Operating Limitations

TBD

Aircraft Care & Cleanliness

Pets may be carried provided the member notifies the manager in advance and the animal is crated or otherwise restrained for the duration of the flight.

Members will return the aircraft in clean condition, free of trash and personal effects. Cleaning required beyond normal turnaround will be billed to the member at actual cost.

Overnight Storage Away from Base

When the aircraft remains overnight at a location other than its base, it will be secured at all tie-down points, with the pitot cover and any covers supplied with the aircraft fitted, and the cabin locked.

Where hail, icing, or severe weather is forecast at that location, the member will arrange hangar storage.

Hangar, tie-down, and ramp costs incurred away from base are the responsibility of the member.

Maintenance Away from Base

Members will report any aircraft discrepancy, damage, or abnormal indication to the manager immediately upon discovery.

Members will not authorize, or permit any other person to perform, any maintenance, preventive maintenance, inspection, alteration, or repair of the aircraft without the prior approval of the manager. The manager will arrange any maintenance required away from base.

Aircraft Return

Members will return the aircraft to a mutually agreed upon location acceptable to the member and the manager.

Late Return

Late returns resulting from an Unavailable Operational Status (see Section 6) that are out of the member's control will not result in any penalties. For all other reasons, late returns are subject to the following:

For the purposes of these penalties, hours late are measured as elapsed clock time from the end of the member's reservation. Aircraft time recorded on the "Hobbs meter" is not used to assess late return penalties.

Late Return — Affects Another Member's Reservation

$100 per hour for each hour late, beginning at the start of the affected member's reservation time, not to exceed $500 per day.

Example: A late return that encroaches on another member's reservation for three hours = $300 penalty. A late return that extends beyond the first day and returns at any time on the second day = $1,000 penalty.

Late Return — Does Not Affect Another Member's Reservation

No penalty will be assessed as long as the manager is informed prior to the delay — the reservation will be extended to account for the delay.

If the manager is not informed, each member will have a one (1) hour grace period from the end of their reservation. After the grace period expires, the member will be assessed a penalty of $50 per hour, not to exceed $250 per day.

Example: An aircraft returned three hours late = $100 penalty. A late return that extends into a second day and returns at any time on the second day = $500 penalty.

Fuel at Return

Unless otherwise stipulated, the aircraft will be fueled to the following level upon return:

• If the aircraft is returned with a fuel level greater than indicated above, the aircraft will not be fueled.
• Aircraft fueling will be accomplished (or directed) by the manager upon return.
• Members will only be billed for the fuel required to bring the fuel level up to the level indicated above.

5. Assessment of Fees & Penalties

Fees Incurred by a Member

Unless otherwise stated, all fees/penalties incurred by a member will be paid to the manager.

• Each member's annual program fee will be based on each member's ownership equity. Not applicable to Lessees.
• Cancellation fees will be paid to the aircraft's operating account.
• Operational Policy violation fees will be paid to the manager unless the violation resulted in aircraft damage — in that case, additional fees to cover the damage will be paid to the aircraft's operating account.
• Excessive Engine Cruise fees will be paid to the aircraft's operating account.
• Late Return penalties will be paid to the affected member whose reservation was encroached upon. Otherwise, if assessed where no member's reservation was affected, paid to the manager.

Lessee Minimum Daily Charge

For any reservation spanning more than two (2) "Calendar days," a Lessee will be charged the greater of:

1. Two (2) hours of aircraft time for each "Calendar day" of the reservation; or
2. The actual aircraft time used, as measured by the "Hobbs meter."

Each "Calendar day" on which the Lessee holds the reservation counts as a full day, including partial first and last days. Reservations spanning two (2) "Calendar days" or fewer are charged at the actual time recorded on the "Hobbs meter" with no minimum applied.

This charge is paid to the manager.

Example: a four (4) "Calendar day" reservation with 5.0 hours recorded on the "Hobbs meter" is charged 8.0 hours (2 hours × 4 days). The same reservation with 11.3 hours recorded is charged 11.3 hours.

Fees Incurred by the Manager

Unless otherwise stated, all fees/penalties incurred by the manager while exercising its member privileges will be paid into the aircraft's operating account.

• Cancellation fees — paid to the aircraft's operating account.
• Operational Policy violations and violations that result in aircraft damage will be paid to the aircraft's operating account. The manager will self-disclose all such violations to the members with the resultant fees assessed.
• Excessive Engine Cruise penalties will be paid to the aircraft's operating account.
• Late Return penalties will be paid to the affected member whose reservation was encroached upon. Otherwise, if assessed where no member's reservation was affected, paid directly to the aircraft's operating account.

6. Aircraft Operational Status

Available

The aircraft is available for use by members.

Unavailable

The aircraft is not available for use by members due to (but not limited to):

• Maintenance (planned or unplanned)
• Weather
• National Airspace closure, full or partial, that directly affects the member's ability to operate the aircraft
• "Act of God", other than weather

7. International Operations

Once the member aircraft is registered with the United States Customs and Border Patrol (CBP) and has a current CBP sticker, members are permitted to operate the aircraft to the following country (or countries and/or regions) to/from the United States of America:

• Canada
• Caribbean

For all reservations that will include an international stop(s), the member will list each international stop in the aircraft scheduling and reservation application with all applicable Electronic Advance Passenger Information Service (eAPIS) information.

Other than for operational planning and control purposes, the manager will assist members as necessary.

8. Acknowledgment

By signing below, I acknowledge that I have received, read, and understand the bop Aero Services LLC Aircraft Ownership Programs Scheduling and Use Policy, , and that I agree to comply with it.

I further acknowledge that this Policy is a living document that will be amended from time to time, that the Manager will notify Members and Lessees of each revision through the Flight Circle Message Notification System, and that this acknowledgment applies to this Policy as amended and remains in effect for subsequent revisions without re-signature.