The F16's will do slow figure-8's near the small plane. I saw this happen on 9/11, when I was working near Hanscom Field in Massachusetts. We heard a fighter jet scream overhead, we looked up, and saw it do figure 8's near the plane. It turned out that an idiot Massachusetts bureacrat decided he just had to get back from a junket, regardless of the air-travel ban that day.
They'll circle. I don't think F-16s fly much under 150 knots even with the flaps out. They'll probably time their circles so one plane of the pair can always quickly get a weapons solution on the target...just in case.
That's a decision I'm glad I'll never have to make.
}:-)4