Joinder Agreement to Payroll Support Program Extension between Horizon Air Industries, Inc. and U.S. Department of the Treasury

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Summary

This agreement adds Horizon Air Industries, Inc. as a recipient to the Payroll Support Program Extension Agreement originally between Alaska Airlines, Inc. and the U.S. Department of the Treasury. By signing, Horizon Air agrees to follow all terms and obligations of the original agreement as if it were an original party. The agreement is unconditional, and failure to comply may result in reduced payroll support from the Treasury. All terms of the original agreement are incorporated by reference.

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EX-10.20 8 ex1020-horizonjoinderxxpsp.htm EX-10.20 Document

JOINDER AGREEMENT

This JOINDER AGREEMENT, dated as of January __, 2021 (this “Joinder”), is delivered in connection with the Payroll Support Program Extension Agreement, dated as of January __, 2021 (as amended from time to time, the “PSP2 Agreement”) between Alaska Airlines, Inc., an Alaska corporation, and the United States Department of the Treasury (“Treasury”). All capitalized terms not defined herein have the meanings set forth in the PSP Agreement.

1.Joinder as a Recipient. The undersigned hereby (a) agrees that it shall be deemed a Recipient under the PSP2 Agreement, (b) agrees to perform all of the obligations of a Recipient thereunder, and (c) agrees to comply with the terms thereof applicable to Recipients as if it were a signatory thereto.

2.Unconditional Joinder. The undersigned acknowledges that its obligations under this Joinder are unconditional.

3.Reliance. The undersigned hereby acknowledges that Treasury executed the PSP2 Agreement in reliance on this Joinder and may reduce the amount of Payroll Support thereunder if the undersigned does not comply with the terms of the PSP2 Agreement.

4.Incorporation by Reference. All terms and conditions of the PSP2 Agreement are hereby incorporated by reference into this Joinder as if set forth in full.

IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Joinder as of the date first written above.

HORIZON AIR INDUSTRIES, INC.


By:     
Name: Joseph A. Sprague
Title: President