Aircraft Ownership Programs
Scheduling and Use Policies

1. Definitions

Aircraft: The aircraft owned by the member's LLC.

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.

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

"Use" day: Five (5) flight hours measured within a "Calendar day" in the time zone in which the aircraft is located at the start of the day. Used for planning, bookkeeping, and fee purposes only — 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' ownership equity, highest to lowest. When ownership equity is the same, scheduling order will be determined by the date at which the member signed the Subscription Agreement (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.

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

   The manager will notify each member electronically when their individual scheduling window will open. Each member will have three (3) days to reserve the aircraft for the upcoming year during their individual 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. Reservations added to the "Waitlist" during the Annual Aircraft Scheduling window are only applicable to the upcoming year.

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. Reservations added to the "Waitlist" via the Daily Aircraft Scheduling process are only valid for the current year.

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.

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 LLC's Ownership Fee Account (as applicable). 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). 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.

SR22T — Cruise Power Policy

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). This has been set by the Manager for engine longevity.

SF50

TBD

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:

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 percentage. Not applicable to Lessees.
• Cancellation fees will be paid to the aircraft LLC'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 LLC's operating account.
• Excessive Engine Cruise fees will be paid to the aircraft LLC'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.

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 LLC's operating account.

• The manager's annual ownership fee will be based on the manager's ownership percentage.
• Cancellation fees — paid to the aircraft LLC's operating account.
• Operational Policy violations and violations that result in aircraft damage will be paid to the aircraft LLC'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 LLC'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 LLC'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 countries 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.