SUMMARY OF KEY PLAN
ASPECTS 
MIDWEST EXPRESS HOLDINGS, INC.
(a Wisconsin corporation) 





2003 All Employee Stock
Option Plan 
Nonqualified Stock
Option 




Midwest Express Holdings, Inc. and
the Optionee hereby agree as follows: 



        1.       Grant
of Nonqualified Stock Options. In consideration of the employment           of the
Optionee, Midwest Express Holdings, Inc., a Wisconsin corporation           (hereinafter
called the “Corporation”), grants to the Optionee the           option (the
“Option”) to purchase the number of shares of Common           Stock, of the
Corporation set forth in your grant letter for an amount equal to           the Exercise
Price per Share, set forth in your grant letter, all on the terms           and
conditions hereinafter stated. The Option shall not be qualified as an
          incentive stock option within the meaning of Section 422 of the Internal
Revenue           Code of 1986, as amended (the “Code”).  




        2.       Plan.
The Option is granted under and pursuant to the Midwest Express           Holdings, Inc.
2003 All Employee Stock Option Plan adopted by the Board of           Directors on August
20, 2003, and subsequently approved by the Shareholders           November 21, 2003. The
plan may be amended from time to time in accordance with           its terms (the “Plan”)
and is subject to each and all of the           provisions thereof. A copy of the Plan is
made available to the Optionee on the           company intranet under the HR Benefits
website. All capitalized terms not           otherwise defined herein shall have the
meanings assigned to such terms in the           Plan.  




        3.       Exercise
of Option. Subject to the conditions stated herein, the right to           exercise
the Option shall accrue as set forth above. Exercises of Options must           be in
accordance with established guidelines (attached). If an Optionee’s
          employment with the Corporation or an Affiliate is terminated for any reason,
          then the Option shall be exercisable to the extent provided under and only in
          accordance with the Plan.  




        4.       Term
of Option. This Option shall expire as set forth in the Plan.  




        5.       Exercise
of Option. The Optionee or the Optionee’s representative           may exercise
this Option by giving written notice and delivering payment to the           Corporation
in accordance with the Plan.  




        6.       Transferability.
If, as indicated above, this Option is transferable,           then the Optionee shall
have the right to transfer this Option in whole or in           part, to any one or more
of the following: (i) any member of the Optionee’s           immediate family; (ii)
any trust or trusts for the benefit of any member of the           Optionee’s
immediate family; and (iii) partnerships in which the           Optionee’s immediate
family members are the only partners. Any transferee           shall be bound by the
terms of the Plan and this Agreement.  




        7.       Withholding
Tax. The Corporation has determined that it is required to           withhold state
and federal income tax and FICA tax as a result of the exercise           of these
Options. Therefore as a condition of exercising these Options, the           Optionee
must make arrangements satisfactory to the Corporation in accordance           with the
Plan to enable the Corporation to satisfy such withholding           requirements.  




        8.       Miscellaneous.  




	 	        a.       Entire
Agreement. This Agreement and the Plan together constitute the                entire
agreement between the parties hereto with respect to the subject matter
               hereof and thereof, and there have been and are no restrictions, promises,
               agreements or covenants between the parties other than those set forth or
               provided for herein.  







	 	        b.       Amendment
or Modification. No term or provision of this Agreement may be
               amended, modified or supplemented orally, but only by an instrument in
writing                signed by the party against which or whom the enforcement of the
amendment,                modification or supplement is sought.  







	 	        c.       Counterparts.
This Agreement may be executed in two or more counterparts,                each of which
shall be deemed an original, but all of which together shall                constitute
one and the same instrument.  







	 	        d.       Governing
Law. This Agreement shall be governed by the internal laws of                the
State of Wisconsin as to all matters, including but not limited to matters
               of validity, construction, effect, performance and remedies.