Exhibit 10b
AIRCRAFT TIME SHARING
AGREEMENT
This AIRCRAFT TIME SHARING AGREEMENT
(the “ Agreement ”) is entered into this
day of
,
20 , between
,
having an office at One Verizon Way, Basking Ridge, New Jersey
07920 (the “ Operator ”), and
,
an individual with an address at
(the “ Passenger ”).
RECITALS
WHEREAS , Operator owns and has operational control of
the aircraft listed on Schedule A hereto (the “
Aircraft ”), and
WHEREAS , Operator employs a fully qualified flight crew
to operate the Aircraft, and
WHEREAS , Operator and Passenger desire that Operator
provide Passenger with transportation on board said Aircraft and
using Operator’s flight crew on a Time Sharing basis as
defined in 14 C.F.R. § 91.501(c)(1) 1 under such terms and conditions that are
mutually satisfactory to both parties hereto.
NOW, THEREFORE
, the parties hereto agree as
follows:
TERM
This Agreement shall commence on
,
20 , and continue until such time as
Operator or Passenger terminates this Agreement. Either party
hereto may at any time terminate this Agreement upon thirty
(30) days written notice to the other party.
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1
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An arrangement
whereby a person or entity uses its airplane and crew to provide
air transportation services to another person, and no charge is
made for the flights conducted under that arrangement in excess and
other than those specified in paragraph (d) of section
91.501.
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Page 1
REIMBURSEMENT FOR USE OF
AIRCRAFT
The Operator shall impose a charge
for transportation furnished under this Agreement in an amount up
to the sum of the expenses set forth in subsections
(1) through (10) in respect of the specific flight or
flights to which such charge applies:
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1)
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Fuel, oil,
lubricants and other additives.
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2)
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Travel expenses
of the crew, including food, lodging and ground
transportation.
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3)
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Hangar and tie
down costs away from the Aircraft’s base of
operation.
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4)
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Insurance
obtained for the specific flight.
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5)
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Landing fees,
airport taxes and similar assessments.
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6)
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Customs,
foreign permit, and similar fees directly related to the
flight.
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7)
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In-flight food
and beverages.
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8)
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Passenger
ground transportation.
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9)
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Flight planning
and weather contract services.
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10)
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An additional
charge equal to 100% of the expenses listed in item
(1) above.
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Operator shall pay all expenses
related to the operation of the Aircraft and will provide an
invoice and bill to Passenger for the expenses enumerated above
within 30 days after the end of the month in which any flight or
flights for the account of the Passenger occur for domestic flights
and within 60 days after the end of the month in which any flight
or flights for the account of the Passenger occur for international
flights. Passenger shall pay Operator for said expenses within 15
days of receipt of the invoice and bill therefor.
TAXES
In addition to the amounts set forth
above, Passenger shall pay to Operator the amount of the Federal
Excise Tax imposed on the amounts paid for taxable transportation
of persons (within the meaning of Section 4261-4263 of the
Internal Revenue Code of 1986, as amended,
Page 2
and any applicable successor provision) for
flights conducted under this Agreement. As of the execution date of
this Agreement, this tax amount currently consists of a 7.5 percent
tax imposed on the amounts paid and a per leg segment fee. (The
segment fee is subject to change on January 1 of every year.)
Amounts due for such taxes shall be included on the monthly
invoices submitted to Passenger.
PILOTS
Operator shall employ, pay for and
provide to Passenger a qualified flight crew for each flight
undertaken under this Agreement.
SCHEDULING
Passenger shall provide Operator
with requests for flight time and proposed flight schedules as far
in advance of any given flight as possible, and in any case, at
least 24 hours prior to Passenger’s planned departure.
Requests for flight time shall be in a form, whether oral or
written, mutually convenient, and agreed, to by the parties.
Passenger shall provide at least the following for each proposed
flight prior to scheduled departure:
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a)
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Proposed
departure point;
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c)
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Date and time
of flight;
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d)
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The names of
all passengers;
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e)
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The nature and
extent of luggage;
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f)
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The date and
time of a return flight, and
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g)
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Any other
information concerning the proposed flight that may be pertinent or
required by Operator or Operator’s flight crew.
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Operator shall have final authority
over the scheduling of the Aircraft, provided, however, that
Operator will use its best efforts to resolve any conflicts in
scheduling in a fair and equitable manner.
MAINTENANCE
Operator shall be solely responsible
for securing maintenance, preventative maintenance and required or
otherwise necessary inspections on the Aircraft. The Aircraft shall
be inspected, and maintained in an airworthy condition, in
accordance with applicable rules and regulations of 14 C.F.R. Part
91 during the term of this Agreement. No period of maintenance,
preventative maintenance or inspection shall be delayed or
postponed for the purpose of scheduling the Aircraft for Passenger.
The pilot-in-command of the Aircraft shall have final and complete
authority to cancel any flight for any reason or condition that in
his or her judgment would compromise the safety of the
flight.
OPERATIONAL
CONTROL
At any time during which a flight is
made by or on behalf of Passenger under this Agreement, Operator
shall have possession, command and control of the Aircraft.
Operator shall have complete and exclusive responsibility for:
(i) scheduling, dispatching and flight of the Aircraft on all
flights conducted pursuant to this Agreement, (ii) the
physical and technical operation of the Aircraft, and
(iii) the safe performance of all flights. Operator shall have
operational control of the Aircraft for all purposes of the Federal
Aviation Regulations. 2 Notwithstanding the foregoing, the
pilot-in-command of each flight shall have the final authority with
respect to: (i) the initiation or termination of any flight,
(ii) selection of the routing of any flight,
(iii) determination of the load to be carried, and
(iv) all decisions relating to the safety of
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2
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Those
regulations found at 14 C.F.R. Parts 1-199, as amended from time to
time.
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any flight. The parties further agree that
Operator shall not be liable for dela
