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 ”).
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) under such terms and
conditions that are mutually satisfactory to both parties hereto.
NOW, THEREFORE , the parties hereto agree as follows:
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.
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:
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 sa