Document:

wxhibit10_34.htm

    Exhibit
10.34(d)

     

    AMENDMENT
NO. 4 TO

    SECOND
AMENDED AND RESTATED

    EMPLOYMENT
AGREEMENT

     

    THIS
AMENDMENT NO. 4 TO SECOND AMENDED AND RESTATED AGREEMENT, dated as of June 22,
2009 (the “Amendment”), amends the Second Amended and Restated Agreement, made
and entered into as of July 1, 2003, and amended as of December 27, 2004,
further amended as of February 20, 2007 and further amended as of September 5,
2007 (the “Agreement”), by and between REPUBLIC AIRWAYS HOLDINGS INC. (the
“Company”), a Delaware corporation, and ROBERT HAL COOPER (the
“Executive”).

     

    R
E C I T A L S

     

    WHEREAS,
the Company and the Executive entered into the Agreement; and

     

    WHEREAS,
the Company and the Executive desire to amend the Agreement as and to the extent
provided for herein, it being understood that the Amendment is an interim
agreement and will be replaced by a new employment agreement, having such terms
as shall be determined by the Company’s Compensation Committee,

     

    NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants
hereinafter set forth and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, and intending to be legally bound,
the parties hereto agree as follows:

     

            1. Dates.  All
references in the Agreement to the 2009 calendar year shall be references to the
2010 calendar year.  All references in the Agreement to January 1,
2009 shall be references to January 1, 2010.  All references in the
Agreement to July 31, 2009 shall be references to July 31, 2010.

     

            2. Severance
Compensation.  Section 4 of the Agreement is hereby amended and
restated in its entirety as follows:

     

            4. Severance
Compensation.  In the event (i) the Company terminates this
Agreement or the Company terminates the Executive’s employment with the Company
other than for Cause, (ii) the Executive terminates this Agreement or his
employment with the Company for Cause, or (iii) of a Change of Control (provided
that after such Change of Control, the Executive’s compensation is decreased,
his duties are diminished or he is asked to relocate more than 25 miles from his
then-current place of employment), then the Company shall pay to the Executive
as Severance Compensation two times the Executive’s Base Salary ($225,000) plus
two times the Executive’s bonus paid for the Company’s last fiscal
year.  The Severance Compensation shall be paid in a lump sum within
ten (10) days following a qualifying event.  If the Executive
terminates this Agreement or his employment with the Company other than for
Cause, the Company shall pay to the Executive his Base Salary for the remainder
of the Term.  The Executive shall also receive as Severance
Compensation continuation of medical benefits for the Term.

     

            3. Equity
Commitment.  Upon executing the Amendment, Executive shall be
issued (i) options to purchase 125,000 shares of common stock of the Company,
25% of which shall vest on each of the next four (4) anniversaries of the date
hereof, such options to be evidenced by a Stock Option Agreement substantially
in the form attached hereto as Exhibit A pursuant to
the Republic Airways Holdings Inc. 2007 Equity Incentive Plan, by and between
the Company and the Executive.  The options shall expire ten (10)
years following voluntary separation or termination of the Agreement or the
Executive’s employment with the Company other than for Cause.

     

            4. Defined
Terms.  All capitalized terms used herein shall have the
respective meanings ascribed to such terms in the Agreement unless otherwise
defined herein.

     

            5. Counterparts.  This
Amendment may be executed in counterparts, each of which shall be deemed an
original but all of which together shall constitute one and the same
instrument.

     

            6. Miscellaneous.  Except
as amended herein, the Agreement shall remain in full force and
effect.

     

    [Remainder
of page intentionally left blank]

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN WITNESS WHEREOF, the parties hereto
have executed this Amendment as of the date first above written.

     

     

     

     

    
      
        	 	      
                REPUBLIC
      AIRWAYS HOLDINGS, INC.

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ Bryan
      K. Bedford	 
	 	 	Name:
      Bryan K. Bedford 	 
	 	 	Title:
      President and Chief Executive Officer	 
	 	 	 	 

      

    

     

     

    
      
        	 	      
                ROBERT
      HAL COOPER

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ 
      Robert H. Cooper	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

      

    

    
    

     

    
    

    
    

     

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
A

     

    FORM
OF STOCK OPTION AGREEMENTexhibit10_35.htm

    Exhibit
10.35(d)

     

    AMENDMENT
NO. 4 TO

    SECOND
AMENDED AND RESTATED

    EMPLOYMENT
AGREEMENT

     

    THIS
AMENDMENT NO. 4 TO SECOND AMENDED AND RESTATED AGREEMENT, dated as of June 22,
2009 (the “Amendment”), amends the Second Amended and Restated Agreement, made
and entered into as of July 1, 2003, and amended as of December 27, 2004,
further amended as of February 20, 2007 and further amended as of September 5,
2007 (the “Agreement”), by and between REPUBLIC AIRWAYS HOLDINGS INC. (the
“Company”), a Delaware corporation, and WAYNE C. HELLER (the
“Executive”).

     

    R
E C I T A L S

     

    WHEREAS,
the Company and the Executive entered into the Agreement; and

     

    WHEREAS,
the Company and the Executive desire to amend the Agreement as and to the extent
provided for herein, it being understood that the Amendment is an interim
agreement and will be replaced by a new employment agreement, having such terms
as shall be determined by the Company’s Compensation Committee,

     

    NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants
hereinafter set forth and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, and intending to be legally bound,
the parties hereto agree as follows:

     

            1. Dates.  All
references in the Agreement to the 2009 calendar year shall be references to the
2010 calendar year.  All references in the Agreement to January 1,
2009 shall be references to January 1, 2010.  All references in the
Agreement to July 31, 2009 shall be references to July 31, 2010.

     

            2. Severance
Compensation.  Section 4 of the Agreement is hereby amended and
restated in its entirety as follows:

     

            4. Severance
Compensation.  In the event (i) the Company terminates this
Agreement or the Company terminates the Executive’s employment with the Company
other than for Cause, (ii) the Executive terminates this Agreement or his
employment with the Company for Cause, or (iii) of a Change of Control (provided
that after such Change of Control, the Executive’s compensation is decreased,
his duties are diminished or he is asked to relocate more than 25 miles from his
then-current place of employment), then the Company shall pay to the Executive
as Severance Compensation two times the Executive’s Base Salary ($225,000) plus
two times the Executive’s bonus paid for the Company’s last fiscal
year.  The Severance Compensation shall be paid in a lump sum within
ten (10) days following a qualifying event.  If the Executive
terminates this Agreement or his employment with the Company other than for
Cause, the Company shall pay to the Executive his Base Salary for the remainder
of the Term.  The Executive shall also receive as Severance
Compensation continuation of medical benefits for the Term.

     

            3. Equity
Commitment.  Upon executing the Amendment, Executive shall be
issued (i) options to purchase 125,000 shares of common stock of the Company,
25% of which shall vest on each of the next four (4) anniversaries of the date
hereof, such options to be evidenced by a Stock Option Agreement substantially
in the form attached hereto as Exhibit A pursuant to
the Republic Airways Holdings Inc. 2007 Equity Incentive Plan, by and between
the Company and the Executive.  The options shall expire ten (10)
years following voluntary separation or termination of the Agreement or the
Executive’s employment with the Company other than for Cause.

     

            4. Defined
Terms.  All capitalized terms used herein shall have the
respective meanings ascribed to such terms in the Agreement unless otherwise
defined herein.

     

            5. Counterparts.  This
Amendment may be executed in counterparts, each of which shall be deemed an
original but all of which together shall constitute one and the same
instrument.

     

            6. Miscellaneous.  Except
as amended herein, the Agreement shall remain in full force and
effect.

     

    [Remainder
of page intentionally left blank]

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    IN
WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date
first above written.

     

     

    
      
        	 	      
                REPUBLIC
      AIRWAYS HOLDINGS, INC.

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ Bryan
      K. Bedford	 
	 	 	Name:
      Bryan K. Bedford 	 
	 	 	Title:
      President and Chief Executive Officer 	 
	 	 	 	 

      

    

     

     

    
      
        	 	      
                WAYNE
      C. HELLER

              	 
	 	 	 	 
	
                 

              	
                By:
      

              	/s/ Wayne
      C. Heller	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

      

    

     

    
    

     

    
    

     

    
    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    EXHIBIT
A

     

    FORM
OF STOCK OPTION AGREEMENT

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