{"url_path":"/sec/jtai/8-k/2026-05-21/item-5-02","section_key":"item-5-02","section_title":"Item 5.02 **","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-05-21","source_url":"https://www.sec.gov/Archives/edgar/data/1861622/0001493152-26-024854-index.html","accession_number":"0001493152-26-024854","cik":"0001861622","ticker":"JTAI","issuer_name":"Jet.AI Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1861622/0001493152-26-024854-index.html","primary_entity_key":"0001861622","primary_entity_name":"Jet.AI Inc."},"word_count":360,"has_tables":true,"body_markdown":"**Item 5.02**\n**Departure\nof Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**\n\n \n\nOn\nMay 18, 2026, the Company entered into amendments to the existing amended and restated employment agreements (the “Employment Agreement\nAmendments”) with Michael Winston, the Company’s Executive Chairman and Interim Chief Executive Officer, and George Murnane,\nthe Company’s Interim Chief Financial Officer.\n\n \n\nEach\nEmployment Agreement Amendment has the following effect on the existing employment agreements:\n\n \n\n \n●\nThe\nRestricted Periods (as defined in Sections 5(a) and 5(c) of each respective employment agreement) during which the employee may not\ncompete with the Company and may not solicit the Company’s customers and vendors has been extended from one year following\nthe employee’s termination to two years following the employee’s termination. The Company agreed to pay to each employee\na one-time bonus in the amount of $1,000 in exchange for such employee’s agreement to abide by the restrictive covenants in\neach employment agreement following the employee’s termination from the Company.\n\n \n \n \n\n \n●\nEach\nexecutive is subject to a new provision allowing for the clawback of incentive-based compensation, bonuses, or other financial benefits\npreviously awarded to the respective executive in the event such executive breaches any of the restricted covenants set forth in\nSections 5, 17, and 19 of his respective employment agreement. This recovery may include, but is not limited to, repayment of cash\nbonuses, cash payments representing synthetic equity or performance share unit awards, forfeiture of stock options, and reimbursement\nof any other incentive-based compensation, and is in addition to the Jet.AI Inc. Clawback Policy, as adopted March 14, 2025. The\nnew clawback provision is effective for two years following the executive’s separation from the Company.\n\n \n\nExcept\nas described above, each employment agreement remains unmodified and in full force and effect in accordance with its original terms.\n\n \n\nThe\nforegoing summary of the terms of the Employment Agreement Amendments does not purport to be a complete description and is qualified\nin its entirety by reference to the full text of the Employment Agreement Amendments, which are filed as Exhibits 10.1 and 10.2 to this\nCurrent Report on Form 8-K and are incorporated by reference herein."}