Jet.AI Inc. has entered into amended and restated employment agreements with Executive Chairman and Interim CEO Michael Winston and Interim CFO George Murnane, effective December 31, 2025. The agreements run through December 31, 2028, with automatic one-year renewals unless terminated with 90 days’ notice. Effective January 1, 2026, compensation terms include an annual base salary and participation in company incentive and equity plans on terms consistent with other senior executives. In the event of termination without cause or resignation for good reason, each executive is entitled to receive unpaid salary, a lump sum equal to three years’ base salary, a lump sum target bonus for each year in the severance period, continued benefits for three years, and accelerated vesting of all unvested equity awards. Additionally, both executives will receive a $1,500,000 cash bonus upon the completion of the proposed change of control transaction with flyExclusive, Inc.

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