Document:

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR CERTAIN
           PORTIONS OF THIS DOCUMENT. CONFIDENTIAL PORTIONS HAVE BEEN
               FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.

                      AIRLINE PARTICIPATION AGREEMENT

      THIS AGREEMENT (this "Agreement"), dated November 15, 1999, is by and
between priceline.com Incorporated, a Delaware corporation with an address
at Five High Ridge Park, Stamford, Connecticut 06905 ("Priceline"), and the
undersigned airline, whose principal place of business is set forth in the
notice provision of this Agreement ("Airline").

                           PRELIMINARY STATEMENT:

      Priceline provides a service that allows consumers to purchase
airline tickets at an offer price determined by the consumer (the
"Priceline Service"). The consumer identifies the departure and return
dates for travel and the price the consumer is willing to pay for the
airline ticket(s). Priceline then determines if it is able to fulfill the
customer's offer and, if it is able to do so, Priceline issues a ticket to
the customer on the applicable carrier.

      Airline desires to participate in the Priceline Service and, in
connection therewith, will provide Priceline with unpublished fares subject
to the Restrictions (defined herein) for select origin and destination city
pairs (each, an "O&D") identified by Airline in accordance with the terms
and conditions set forth in this Agreement.

      Priceline desires to include Airline as a participating carrier in
the Priceline Service and to have access to such unpublished fares in
accordance with the terms and conditions set forth in this Agreement.

      NOW, THEREFORE, in consideration of the covenants and agreements set
forth in this Agreement, the parties agree as follows:

I.    Ticket Restrictions and Related Matters

      1.  Airline shall make available unpublished fares to Priceline for
          O&Ds identified by Airline in accordance with the terms and
          conditions set forth in this Agreement. Unpublished fares
          provided to Priceline must be issued in accordance with rules and
          restrictions provided to Priceline by Airline from time to time.
          By way of example, unpublished fares on certain O&D's may require
          specific routings or be flight/day specific. At all times during
          the term of this Agreement, Airline will exclusively control and
          determine the unpublished fares and levels of inventory provided
          to Priceline. It is expressly understood and agreed that Airline
          makes no commitment whatsoever regarding the level of inventory,
          number of O&Ds or the level of unpublished fares that will be
          provided to Priceline.

      2.  All tickets issued by Priceline for carriage on Airline (each, a
          "Priceline Ticket"), as well as tickets issued by Priceline on
          its other Participating Carriers (as hereinafter defined) shall
          be subject to the restrictions listed in (a) through (h) below
          (the "Restrictions"):

          (a)  Except as otherwise provided in Paragraph IV.4 hereof, all
               Priceline Tickets will be non-refundable, non-endorsable and
               non-changeable;
          (b)  All travel will be round-trip with no stopovers or open-jaw
               travel permitted;
          (c)  Frequent Flyer mileage and upgrades will not be permitted;
               provided, Airline may offer such benefits to the extent that
               it is impractical to impose such frequent flyer restrictions
               on Priceline Tickets;
          (d)  Priceline customers must agree to (i) make up to one stop or
               connection on both their departing and return flights, (ii)
               accept a ticket on any carrier participating in Priceline's
               airline ticket service ("Participating Carrier"), and (iii)
               travel on any flight on the specified date of travel (x) for
               domestic U.S. flights, departing during the 6 a.m. - 10 p.m.
               time period unless the customer has specified a request to
               include flights departing outside those periods, and (y) for
               international flights, at any time (i.e., 12:01 a.m. to
               11:59 p.m.);
          (e)  All Priceline travel reservations and bookings shall be made
               without Priceline customers specifying a preferred (or
               requested) carrier, flight or time of day travel
               preference(s) on the specified date(s) of travel;
          (f)  All Priceline Tickets require instant ticketing guaranteed
               with a major credit card if Priceline is able to provide an
               airline ticket within the customer's requested price,
               departure and return date parameters;
          (g)  Priceline Ticket reservations are limited to no more than
               eight persons traveling in the same itinerary; and
          (h)  Except as otherwise provided herein, in any seven-day
               calendar period, a Priceline customer shall be limited to
               making one offer price for airline ticket(s) for a Trip. A
               "Trip" is defined as travel between the same airports on the
               same dates of travel. A Priceline customer may, within a
               seven-calendar day period, make an offer for travel in a
               different airport pair or on different dates of travel.
               Priceline will not knowingly sell a ticket to a Priceline
               customer in response to a second (or subsequent) offer for a
               Trip within a seven calendar day period; provided, that
               Priceline may sell a ticket in connection with a second
               offer if the Priceline customer (i) raises the offer by a
               minimum of $[**] and (ii) accepts, as part of the second
               offer, (x) a travel package which includes a hotel or
               rental car offer, or (y) a product or service co-marketed
               by Priceline such as a credit card or long distance telephone
               service or other co-marketing program.

      3.  If during any two consecutive months during the term of this
          Agreement, the number of tickets sold by Priceline on
          Participating Carriers that do not include a Saturday night stay
          is greater than [**]% of all tickets sold on all Participating
          Carriers through Priceline during such period, then Airline shall
          have the right to cause Priceline to include as part of the
          Restrictions, a Saturday night stay for all tickets sold on all
          Participating Carriers through Priceline; provided, however, that
          Airline's right to impose such restriction shall terminate and be
          of no further force or effect at such time as Delta Air Lines,
          Inc. ("Delta") no longer has a contractual right to cause
          Priceline to impose a Saturday night stay restriction for
          Priceline's airline ticket sales on all Participating Carriers.
          Additionally, in the event that Priceline licenses any of
          Priceline's proprietary software to Delta, Priceline will license
          such software to Airline on the same terms and conditions as
          apply to any license to Delta to the extent that contractual
          rights of Delta as of the date hereof do not prohibit such
          license (subject to any waiver by Delta); provided, however, that
          Priceline shall thereafter have the right unilaterally to modify
          or terminate such license to Airline if Priceline's license to
          Delta is similarly modified or terminated. Additionally, so long
          as, and only so long as, Delta shall have the contractual right
          to limit the number of second look offers under Paragraph I.2(h)
          to no more than 20 percent of first look offers, Priceline will
          comply with such Restriction, and Airline, shall hereby have an
          independent right to enforce such Restriction for all
          Participating Carriers. Subject to the foregoing, Priceline
          further agrees that it shall be prohibited from removing or
          materially modifying any of the Restrictions applicable to any
          Participating Carrier that will materially increase the usage of
          Priceline by business flyers without the prior written consent of
          Airline.

      4.  Airline may include, in addition to the Restrictions, other fare
          rules and conditions for Priceline Tickets issued on Airline such
          as advance purchase or Saturday night stay requirements. Subject
          to Paragraph II.2, Priceline also reserves the right after
          written notice to Airline to impose, on a non-discriminatory
          basis on all Participating Carriers, additional restrictions on
          tickets sold by Priceline, including a Saturday night stay
          requirement, as part of the Restrictions.

      5.  The Restrictions will be communicated by Priceline to the
          customer via the Internet (or through Priceline's customer
          service representatives if the consumer contacts Priceline
          through its toll free customer service number), and will be set
          forth on ticketing and/or itinerary documentation issued by
          Priceline.

      6.  All Priceline Tickets issued for carriage on Airline shall be
          subject to the published conditions of carriage and the fare
          rules of Airline, to the extent such conditions and fare rules
          are not inconsistent with the Restrictions. Airline will honor
          all Priceline Tickets issued for travel on Airline in accordance
          with the Restrictions and other rules and conditions established
          by Airline for Priceline Tickets.

      7.  All tickets issued by Priceline on any Participating Carrier
          shall be subject to the Restrictions and any additional
          restrictions imposed by Priceline in accordance with the second
          sentence of Paragraph I.4.

II.   Priceline Ticket Reservations, Bookings, Payment and Fulfillment

      1.  Airline will file unpublished fares and rules for Priceline
          Tickets with the computer reservation system ("CRS") used by
          Priceline. Airline may file fares under Airline's two letter
          designation code on flights operated by other carriers.
          Notwithstanding the forgoing, Priceline will use best efforts to
          cooperate with Airline to identify and work toward the most
          efficient system selected by Airline, including Airline's
          internal reservation system, for the filing of fares for use by
          Priceline in the operation of its air travel service with
          Airline.

      2.  Subject to Paragraph III, Priceline will determine the price at
          which Priceline Tickets are sold based on customer offers
          received through the Priceline Service. Priceline shall not
          advertise prices or fares below Airline's published fares. As
          used herein, "published fare" means an Airline fare published
          through the Airline Tariff Publishing Company ("ATP") and
          available for sale by Airline appointed agents for scheduled air
          transportation. Priceline shall not advertise prices or fares in
          any O&D below Airlines published fares in the applicable O&D.

      3.  All unpublished fares made available by Airline for sale through
          the Priceline Service shall not be commissionable and shall be
          inclusive, where applicable, of the applicable domestic federal
          transportation excise tax for such unpublished fare. All such
          unpublished fares shall be exclusive of any domestic federal
          segment taxes, and any domestic or international fuel, departure,
          arrival, passenger facility, airport, terminal and/or security
          taxes or surcharges which, when applicable, must be added to the
          fare amount collected from the passenger and shown on the
          Priceline Ticket.

      4.  Subject to Paragraph III, upon locating an unpublished fare with
          inventory availability satisfying a Priceline customer's ticket
          request, Priceline shall immediately ticket the customer's ticket
          price against a valid credit card provided by the Priceline
          customer.

      5.  In all Priceline Ticket transactions, Priceline will be the
          merchant of record and will pay all associated merchant credit
          card fees. All Priceline Tickets sold on Airline will be settled
          through Airline Reporting Corporation ("ARC").

      6.  All Priceline Tickets of Airline issued through the Priceline
          Service will be issued by Priceline using Agency ARC: 07-50854-6.
          In collecting payment for Priceline Tickets, Priceline will act
          as the agent of Airline pursuant to Agent's ARC Agent Reporting
          Agreement with ARC.

      7.  Unless otherwise directed by a Priceline customer, all Priceline
          Tickets issued on Airline will be issued electronically. After
          issuance, Priceline will promptly forward to the customer a
          receipt of proof of purchase, conditions of carriage on Airline
          and a copy of the Restrictions (including any additional
          restrictions imposed by Airline). In the event a Priceline
          customer requests Airline to provide a separate electronic ticket
          receipt for an electronic ticket, the price shown on Airline's
          receipt will reflect that such ticket is a "bulk" electronic
          ticket.

      8.  Priceline will encourage its customers to accept electronic
          ticketing for all Priceline Ticket requests by imposing an
          additional charge for the issuance of paper tickets and
          maintaining the issuance of electronic tickets as the default
          option on the Priceline Service.

      9.  Subject to the provisions of Paragraph II.5 above, all Priceline
          paper tickets for carriage on Airline will be issued by Priceline
          on standard ARC traffic documents and will be validated with
          Airline's validation in accordance with ARC requirements. The
          passenger coupon will show "bulk" for the fare amount and will
          include all additional collections noted in Paragraph II.3 above.
          The auditor's coupon will show the Airline's unpublished fare
          authorized for Priceline.

      10. In the event that Priceline is unable to fulfill an airline
          ticket request from unpublished fares and seat inventory provided
          from Participating Carriers in a manner not inconsistent with
          this Agreement, Priceline reserves the right to sell tickets on
          Airline using published fares used by travel agents generally as
          reflected in CRSs, in accordance with the rules and conditions
          associated with such fares and in accordance with an allocation
          method that allocates such purchases in proportion to the
          aggregate domestic or international market share (as applicable)
          offered by each Participating Carrier in the O&D requested;
          provided that the Participating Carrier has seats available for
          sale at the published fares comparable to the published fares
          available from other Participating Carriers in such O&D.

      11. [**]

          [**]

III.  Priceline Ticket Allocation Methodology

      Priceline will maintain an allocation methodology that determines when
participating airlines will be given the first opportunity to fill a
customer ticket request. Priceline will provide a first-look allocation
system whereby each Participating Carrier will be allocated first-looks for
each O&D's in proportion to its natural market share of all Participation
Carriers for such O&D's, as determine by a standard industry QSI
calculation. Airline acknowledges Delta Airlines' preexisting "first look"
advantage and agrees to participate in the Priceline Service on an interim
basis with Delta's "first look" allocation advantage. Priceline agrees to
negotiate expeditiously and in good faith with Delta to remove this first
look advantage relative to Airline. Priceline will notify Airline promptly
when the first look allocation advantage has been removed. Thereafter, in
no case will another Participating Carrier be given a first-look bias over
Airline. Priceline shall use its best efforts to establish a methodology,
acceptable to Airline, whereby Airline may indicate which flight to use to
fulfill a customer's request in the event that more than one flight (e.g.,
different departure times or different stops or connections) satisfies a
Priceline customer's request. Priceline agrees to fulfill all Priceline
first look ticket requests allocable to Airline at the "Highest Qualifying
Fare" available from Airline. In the interim period where Delta maintains
its first look advantage, carrier will receive second looks based upon O+D
QSI share and fulfillment at the "highest qualifying fare". As used herein,
the term "Highest Qualifying Fare" means the highest priced Airline
unpublished fare meeting the Priceline customer's offer price and other
terms, plus the amount of Priceline's minimum ticket margin, as established
from time to time by Priceline and notified to Airline. Once a first look
"level playing field" has been achieved, Priceline will allocate "second
through nth looks" in its sole discretion; provided, however, that
Priceline will not agree to provide any |Participating Carrier which has a
"level playing field" in the first look allocation system with an advantage
over the Airline in the second look allocation system; and provided
further, however, that Airline's contractual position with respect to
second looks shall be no less favorable than the contractual position of Delta.

IV.  Priceline Customer Service

     1.   Priceline will provide twenty-four hour customer support services
          to all Priceline customers through a toll-free number at the
          customer support center designated by Priceline from time to
          time. The customer support center will be adequately staffed with
          personnel trained to take Priceline Ticket requests by phone and
          respond to all customer inquiries for related service and
          support.

     2.   Priceline will use commercially reasonable efforts to ensure that
          its customer service representatives provide quality customer
          service and support to Priceline customers in a prompt, reliable
          and courteous manner.

     3.   Priceline will respond to Priceline customer questions and issues
          pertaining to special handling requirements for Priceline Tickets
          including processing any special customer handling requirements
          in respect of Priceline Tickets issued on Airline.

     4.   The ticket Restrictions will apply to all tickets issued through
          the Priceline Service on Airline. Airline may waive, at its own
          cost and expense, one or more of the Restrictions set forth in
          Paragraphs I.2 (a)-(f) pursuant to a direct arrangement made by
          Airline with the applicable customer holding a Priceline Ticket.
          On an exception basis where necessary or appropriate to address
          an escalating customer service issue of any individual customer,
          Priceline may refund the price of a Priceline Ticket applicable
          to such customer. At Airlines' request, Priceline shall provide
          Airline with a monthly report detailing the number and amount of
          refunded Priceline Tickets involving air transportation services
          on Airline. Priceline and Airline will jointly develop the
          guidelines upon which such exception refunds will be governed.

V.   Confidentiality

     1.   Priceline and Airline will each hold in confidence and, without
          the prior written consent of the other, will not reproduce,
          distribute, transmit, transfer or disclose, directly or
          indirectly, in any form, by any means or for any purpose, any
          Confidential Information of the other party. As used herein, the
          term "Confidential Information" shall mean this Agreement and its
          subject matter, and proprietary information that is provided to
          or obtained from one party to the other party including any
          information which derives economic value, actual or potential,
          from not being generally known to, and not generally
          ascertainable by proper means by, other persons, including the
          unpublished fares provided by Airline to Priceline pursuant to
          this Agreement. The recipient of Confidential Information may
          only disclose such information to its employees on a need-to-know
          basis.

     2.   The obligations of a recipient party with respect to Confidential
          Information shall remain in effect during and after the term of
          this Agreement (including any renewals or extensions hereof) and
          for a period of one (1) year thereafter, except to the extent
          such data:

          (a)  is or becomes generally available to the public other than
               as a result of a disclosure by the recipient, or its
               directors, officers, employees, agents or advisors;

          (b)  becomes available to the recipient on a non-confidential
               basis from a source other than the disclosing party or its
               affiliated companies, provided that such source is not bound
               by any confidentiality obligations to the disclosing party
               or its affiliated companies (as applicable);

          (c)  is necessary to comply with applicable law or the order or
               other legal process of any court, governmental or similar
               authority having jurisdiction over the recipient. Both
               parties hereto acknowledges that the other party may be
               required to file this Agreement with the Securities and
               Exchange Commission ("SEC"), as required by federal
               securities laws, and that such filing shall not be deemed a
               violation of the provisions of this Article V; provided,
               that either party may request confidential treatment of
               provisions of this Agreement; or

          (d)  was in the possession of the recipient party prior to the
               date of disclosure by the other party, as shown by written
               records of the recipient party; provided, however, that both
               parties acknowledge and confirm that they began exchanging
               data on April 1, 1998.

     3.   Except as otherwise specifically provided in Section 2(c) of this
          Paragraph V with respect to either party's filing requirements
          with the SEC, in the event that the recipient becomes legally
          compelled to disclose any of such Confidential Information by any
          governmental body or court, recipient will provide the disclosing
          party with prompt notice so that the disclosing party may seek a
          protective order or other appropriate remedy and/or waive
          compliance (in writing) with the provisions hereof. In the event
          that such protective order or other remedy is not obtained, or
          the disclosing party waives (in writing) compliance with the
          provisions hereof, recipient will furnish only that portion of
          such Confidential Material which is legally required and will
          exercise its reasonable business efforts to obtain appropriate
          assurance that confidential treatment will be accorded such
          Confidential Information

     4.   The recipient of Confidential Information will exercise
          reasonable commercial care in protecting the confidentiality of
          the other party's Confidential Information.

     5.   Priceline will not disclose (including, without limitation, by
          sale) to any third party information obtained through the
          Priceline Service or otherwise concerning a customer who has
          acquired a ticket on Airline using the Priceline Service.

     6.   Nothing contained herein shall be construed to prevent Airline
          from competing, directly or indirectly, with Priceline. Priceline
          shall not provide any Confidential Information to Airline that
          would in any way prohibit or inhibit such competition.

     7.   Priceline will not identify Airline's participation in the
          Priceline Service until a customer is booked and confirmed for
          ticketing. Furthermore, Priceline will not, in any media
          (including its Internet site), indicate that Airline is
          participating or has participated in the Priceline Service except
          to indicate that as a consumer proposition, a Priceline customer
          must accept a routing on one of the major U.S. full service
          airlines or, in the case of international travel, other airline
          carriers available through the Priceline Service. Except as set
          forth above, Priceline will not disclose Airline's participating
          in the Priceline Service without Airline's prior consent. Airline
          will not disclose its participation in the Priceline Service
          without Priceline's prior consent. Notwithstanding the forgoing,
          Priceline may identify Airline as one of its Participating
          Carriers in its public filings with the SEC.

VI.   Proprietary Marks

      During the term of this Agreement neither Priceline nor Airline shall
      use the other party's trademarks, trade names, service marks, logos,
      emblems, symbols or other brand identifiers in advertising or
      marketing materials, unless it has obtained the prior written
      approval of the other party. The consent required by this Paragraph
      VI shall extend to the content of the specific advertising or
      marketing items as well as the placement and prominence of the
      applicable trademark, trade name, service mark, logo, emblem, symbol
      or other brand identifier of the other party. Priceline or Airline,
      as applicable, shall cause the withholding, discontinuance, recall or
      cancellation, as appropriate, of any advertising or promotional
      material not approved in writing by the other party, that differs
      significantly from that approved by the other party, or that is put to
     a use or used in a media not approved by the other party.

VII.  Reporting

      Priceline will provide monthly reports in a format designated by
      Airline summarizing (i) information concerning each ticket issued by
      Priceline on Airline; (ii) aggregate information (i.e. non airline
      specific) for all tickets issued by Priceline in each O&D that
      Airline participates; and (iii) aggregate information for all
      Priceline offers from customers not ticketed in each O&D that Airline
      participates.

      Priceline will provide to Airline an annual statement by Priceline's
      independent accounting firm or other qualified third-party concerning
      Priceline's compliance with the ticket allocation methodology
      specified in Paragraph III and all reporting obligations required by
      this Agreement.

      Airline may, upon reasonable notice to Priceline and during normal
      business hours, audit the financial books and records of Priceline
      and the information specified in Paragraphs VII 1 and 2. Any such
      audit shall be at the sole cost and expense of Airline and shall be
      conducted in a manner that does not unduly disrupt or interfere with
      the normal business operations of Priceline.

VIII. Term of Agreement

      1.  Subject to the provisions of this Paragraph VIII, this Agreement
          will commence on the date set forth on the first page of this
          Agreement (the "Commencement Date") and will continue for a
          period of five (5) years thereafter. Notwithstanding the
          foregoing, (i) Airline may terminate this Agreement with or
          without cause on 30 days' prior written notice to Priceline, and
          (ii) Priceline may terminate this Agreement on 30 day's prior
          written notice to Airline if, at any time, Airline voluntarily
          participates in another name-your-price airline ticket service
          other than the Company's and its affiliates' airline ticket
          services or makes any public disparaging statements regarding
          Priceline or its services.

      2.  The obligations of the parties under Paragraph V of this
          Agreement shall survive for the period specified in Section 2 of
          Paragraph V, and the obligations of the parties under Paragraph
          IX of this Agreement shall indefinitely survive the termination
          of this Agreement.

      3.  In the event of written notice of termination of this Agreement
          in accordance with the terms of this Paragraph VIII, all
          Priceline Tickets issued on Airline prior to the effective date
          of termination specified in such notice will be honored by
          Airline under the terms of this Agreement.

IX.   Indemnification

      1.  Priceline will indemnify, defend and hold harmless Airline, its
          officers, directors, employees and agents, from and against all
          damages, losses and causes of action including, without
          limitation, damage to property or bodily injury, to the extent
          caused by Priceline's breach of this Agreement or the ARC Agent
          Reporting Agreement, or by the negligence or willful acts or
          omissions of Priceline or any of its employees or agents.
          Additionally, Priceline will indemnify, defend and hold harmless
          Airline, its officers, directors, employees and agents from and
          against all liabilities for federal transportation tax (including
          interest and penalties), if any, payable on amounts collected by
          Priceline on tickets issued for travel on Airline in excess of
          amounts paid by Priceline to Airline in respect to such tickets.

      2.  Airline will indemnify, defend and hold harmless Priceline and
          its officers, directors, employees and agents from and against
          all damages, losses and causes of action including, without
          limitation, damage to property or bodily injury, to the extent
          caused by Airline's breach of this Agreement or by the negligence
          or willful acts or omissions of Airline or any of its employees
          or agents.

X.    No Exclusivity

      The relationship by and between Airline and Priceline as set forth in
      this Agreement shall be non-exclusive. As such, Airline may
      participate in other programs similar to the Priceline Service or in
      any line of business.

XI.   Representations and Warranties

      1.  Priceline represents and warrants to Airline that (i) Priceline
          has obtained all consents and approvals necessary for Priceline
          to execute and deliver this Agreement and to perform its
          obligations hereunder, (ii) Priceline's execution and delivery of
          this Agreement and its performance of its obligations hereunder
          does not violate any provision of its charter or bylaws or any
          agreement to which Priceline is a party or is bound, and (iii)
          Airline's participation in the Priceline Service will not be
          restricted as to any O&D serviced through the Priceline Service
          other than restrictions, if any, imposed by Airline or regulators
          to which Airline is subject.

      2.  Airline represents and warrants to Priceline that (i) Airline has
          obtained all consents and approvals necessary for Airline to
          execute and deliver this Agreement and to perform its obligations
          hereunder and (ii) Airline's execution and delivery of this
          Agreement and its performance of its obligations hereunder does
          not violate any provision of its charter or bylaws or any
          agreement to which Airline is a party or is bound.

XII.  General Provisions

      1.    No waiver or breach of any of the provisions of this Agreement
            shall be construed as a waiver of any other breach of the same
            or any other
            provision.

      2.   If any paragraph, sentence or clause of this Agreement shall be
           adjudged illegal, invalid or unenforceable, such illegality,
           invalidity or unenforceability shall not affect the legality,
           validity or enforceability of this Agreement as a whole or of any
           paragraph, sentence or clause hereof not so adjudged.

     3.    Any notice required or permitted hereunder shall be deemed
           sufficient if given in writing and delivered personally, by
           facsimile transmission, by reputable overnight courier service or
           United States mail, postage prepaid return receipt requested, to
           the addresses shown below or to such other addresses as are
           specified by similar notice, and shall be deemed received upon
           personal delivery, upon confirmed facsimile receipt, two (2) days
           following deposit with such courier service, or three (3) days
           from deposit in the United States mails, in each case as herein
           provided:

           If to Priceline:                     If to Airline:

           Priceline.com Incorporated           United Air Lines, Inc.
           Five High Ridge Park                 1200 East Algonquin Road
           Stamford, CT 06905                   Elk Grove Township, IL  60007

           Attention: Paul Francis              Attention: Scott Praven
            Chief Financial Officer             Vice President - Revenue
                                                Management

           Phone: (203)-705-3000                Phone: 847-700-5051
           Fax:     (203)-595-8344              Fax:   847-700-2534

           With a copy to:                      With a copy to:

           Priceline.com Incorporated           United Air Lines, Inc.
           Five High Ridge Park                 1200 East Algonquin Road
           Stamford, CT 06905                   Elk Grove Township, IL  60007

           Attention: Timothy G.                Attention:  Fran Maher
           Brier                                General Counsel
           Phone: (203)-705-3000                Phone:      847-700-6250
           Fax:   (203)-595-8343                Fax:  847-700-4683

            A party may change its address and the name of its designated
            recipient of copies of notices for purposes of this Agreement
            by giving the other parties written notice of the new name and
            the address, phone and facsimile number of its designated
            recipient in accordance with this Paragraph XII(3).

      4.    This Agreement supersedes and replaces all previous understandings
            or agreement, whether oral or in any written form, with respect to
            the subject matter addressed herein. The captions in this
            Agreement are for convenience only and do not alter any terms of
            this Agreement.

      5.    This Agreement may be amended or modified only by a written
            amendment executed by the parties.

      6.    The formation, construction, performance and validity of
            this Agreement shall be governed by the internal laws of the
            State of New York. Each party agrees that any civil suit or
            action brought against it as a result of any of its
            obligations under this Agreement may be brought against it
            either in the state or federal courts of the principal place
            of business of either party, and each party hereby
            irrevocably submits to the jurisdiction of such courts and
            irrevocably waives, to the fullest extent permitted by law,
            any objections that it may now or hereafter have to the
            laying of the venue of such civil suit or action and any
            claim that such civil suit or action has been brought in an
            inconvenient forum, and each party further agrees that final
            judgment in any such civil suit or action shall be
            conclusive and binding upon it and shall be enforceable
            against it by suit upon such judgment in any court of
            competent jurisdiction.

       7.   This Agreement may be executed in counterparts, each of
            which shall be deemed an original, and together, shall
            constitute one and the same instrument. Execution may be
            effected by delivery of facsimiles of signature pages (and
            the parties shall follow such delivery by prompt delivery of
            originals of such pages).

       8.   No party will in any manner or by any device, either
            directly or indirectly, act in violation of any applicable
            law, governmental order or regulation, including, but not
            limited to, those concerning advertisement of air
            transportation services. Priceline shall comply at all times
            with the provisions of Airline's tariffs (except where such
            tariffs are specifically amended by Airline under the terms
            of this Agreement) and the terms of the ARC Agent Reporting
            Agreement and any addenda thereto.

       9.   Priceline agrees to notify Airline promptly, in writing, in
            the event there is a change of control in the ownership of
            Priceline. For purposes of this Agreement, a "change of
            control" means (i) the acquisition by any other person or
            group (within the meaning of Section 13(d)(3) of the
            Securities Exchange Act (except an employee group of such
            party, any of its subsidiaries or a holding company of such
            party)), of the beneficial ownership of securities
            representing 20% or more of the combined voting power of the
            securities entitled to vote generally in the election of the
            board of directors of the applicable party, or (ii) the
            sale, mortgage, lease or other transfer of assets or earning
            power constituting more than 50% of the assets or earning
            power of such party (other than ordinary course financing);
            provided that in no event shall a "change of control" be
            defined to include (i) an initial public offering of shares
            of the party's capital stock, (ii) the formation by a party
            of a holding company, or (iii) an intra-corporate
            transaction with a company under common control with a
            party.

      10.   No party hereto shall assign or transfer or permit the
            assignment or transfer of this Agreement without the prior
            written consent of the other party.

      11.   This Agreement shall not be deemed to create any partnership
            or joint venture between Airline and Priceline, or to create
            any rights in favor of any person or entity other than the
            parties hereto. This Agreement is for the sole benefit of
            the parties and nothing herein expressed or implied shall
            give or be construed to give any other person any legal or
            equitable rights hereunder

      12.   NO PARTY WILL BE LIABLE TO THE OTHER FOR ANY OF THE OTHER
            PARTY'S INCIDENTAL OR CONSEQUENTIAL DAMAGES, INCLUDING LOST
            REVENUES, LOST PROFITS, OR LOST PROSPECTIVE ECONOMIC
            ADVANTAGE, ARISING FROM THIS AGREEMENT OR ANY BREACH HEREOF.

      13.   THE PARTIES AGREE THAT IRREPARABLE DAMAGE WOULD OCCUR IN THE
            EVENT ANY PROVISION OF PARAGRAPH V AND PARAGRAPH VI OF THIS
            AGREEMENT IS NOT PERFORMED IN ACCORDANCE WITH THE TERMS
            THEREOF AND THAT THE PARTIES SHALL BE ENTITLED TO AN
            INJUNCTION OR INJUNCTIONS TO PREVENT BREACHES OF SUCH
            PROVISIONS AND TO ENFORCE SPECIFICALLY THE TERMS THEREOF.

       14.  Each party has participated in the negotiation and drafting
            of this Agreement. In the event any ambiguity or question of
            intent or interpretation arises, this Agreement shall be
            construed as if drafted jointly by the parties, and no
            presumption or burden of proof shall arise favoring or
            disfavoring any party by virtue of the authorship of any of
            the provisions of this Agreement.

                         [SIGNATURE PAGE TO FOLLOW]

     IN WITNESS WHEREOF, the parties have executed and delivered this
Agreement on the date indicated above.

PRICELINE.COM INCORPORATED           UNITED AIR LINES, INC.

By:_____________________________     By:____________________________
   Name:                                Name:
   Title:                               Title:

[**]=Confidential Treatment requested for redacted portionCONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR CERTAIN
           PORTIONS OF THIS DOCUMENT. CONFIDENTIAL PORTIONS HAVE BEEN
               FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.

 THE WARRANT ISSUED PURSUANT TO THIS PARTICIPATION WARRANT AGREEMENT HAS NOT
 BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR ANY STATE SECURITIES
 LAWS.  IT MAY NOT BE SOLD OR OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR
 OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
 UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAWS UNLESS THE COMPANY HAS
 RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT
 SUCH REGISTRATION IS NOT REQUIRED TO EFFECTUATE SUCH TRANSACTION.

                      PARTICIPATION WARRANT AGREEMENT
                     To Purchase Shares of Common Stock
                       Dated as of November 15, 1999
                         PRICELINE.COM INCORPORATED
                           a Delaware Corporation

                                              Issue Date: November 15, 1999

 THIS CERTIFIES THAT, United Air Lines, Inc. (the "Warrant Holder"), with a
 place of business at 1200 East Algonquin Road, Elk Grove Township, IL
 60007, for value received, is entitled, upon the terms and subject to the
 conditions of this Participation Warrant Agreement (this "Warrant
 Agreement"), to subscribe for and purchase fully-paid and non-assessable
 shares of common stock, par value $.008 per share (the "Common Stock"), of
 priceline.com Incorporated, a Delaware corporation (the "Company").

      1.   Issuance of Warrants.  On the Issue Date, the Company will issue
 to the Warrant Holder warrants (the "Warrants") to acquire Five Million
 Five Hundred Thousand (5,500,000) shares of the Common Stock (the
 "Shares"), subject to adjustment as hereinafter provided pursuant to
 Section 10 herein.

      2.   Exercise Price.  The Warrants have an exercise price of $52.6250
 per share (closing price as reported on NASDAQ on date of grant) of Common
 Stock, as adjusted pursuant to the provisions of Section 10 of this Warrant
 Agreement (the "Exercise Price").

      3.   Term.  The Warrants are fully vested on the Issue Date.  Except
 as otherwise provided herein, the term of the Warrants and the right to
 purchase Shares as granted herein shall be exercisable on the fifth (5th)
 anniversary of the Issue Date; provided, further, that if any of the
 Warrants first become exercisable on the fifth (5th) anniversary of the
 Issue Date, the Warrant Holder will have an additional six months
 thereafter to exercise its purchase rights in respect of those Warrants
 (the end of such five year period and additional six months, if applicable,
 being referred to herein as the "Termination Date").

      4.   Exercise Events.

           (a)  General.  Unless otherwise exercisable at an earlier date,
 in accordance with this Section 4, all of the Warrants shall be fully
 exercisable commencing of the fifth anniversary of the Issue Date.

           (b)  Early Exercise Rights.

                (i)   The Warrant Holder will have the right at any time
                      during the first Measuring Period (as defined in
                      Section 4(c) below), to exercise Warrants, subject to
                      adjustment as provided in Section 10 hereof, equal to
                      [**]% or [**]% of the Shares, as applicable, provided
                      that, except as otherwise provided in Sections
                      4(b)(iii) and 4(b)(iv) hereof, (i) the right to
                      exercise Warrants for [**]% of the Shares shall not
                      accrue unless and until the Company has, on an
                      aggregated basis during the first Measuring Period,
                      received at least $[**] million of Net Revenues (as
                      also defined in Section 4(c) below) from tickets sold
                      during such Measuring Period for travel on the
                      Warrant Holder, its subsidiaries and/or on the
                      Warrant Holder's code share partners using Warrant
                      Holder's code (collectively, "Warrant Holder and its
                      Code Share Partners"), and (ii) the right to exercise
                      Warrants for [**]% of the Shares shall not accrue
                      unless and until the Company has, on an aggregated
                      basis during the first Measuring Period, received at
                      least $[**] million of Net Revenues from tickets sold
                      during such Measuring Period for travel on the
                      Warrant Holder and its Code Share Partners.

                (ii)  During the period which Warrant Holder is subject to a
                      first look disadvantage in the Company's airline
                      allocation system relative to Delta Air Lines, Inc., Net
                      Revenues, for the purpose of measurement toward early
                      exercise in the first Measuring Period, will be multiplied
                      by a factor of three (3). Additionally, in the event that
                      Warrant Holder remains subject to a first look
                      disadvantage relative to Delta Air Lines, Inc. on [**],
                      Warrant Holder will be entitled to exercise Warrants for
                      [**]% of the Shares beginning [**]. Any such early
                      exercise will be offset against the early exercise rights
                      for the first Measuring Period.

                (iii) The Warrant Holder will have the right at any time
                      during the second Measuring Period and all remaining
                      Measuring Periods thereafter, to exercise Warrants,
                      subject to adjustment as provided in Section 10
                      hereof, equal to [**]% or [**]% of the Shares, as
                      applicable, or such lesser percentage of the Shares
                      as shall constitute all of the remaining Shares not
                      then exercisable; provided that (i) the right to
                      exercise Warrants for [**]% of such Shares shall not
                      accrue unless and until the Company has, on an
                      aggregated basis during the applicable Measuring
                      Period, received at least $[**] million of Net
                      Revenues from tickets sold during such Measuring
                      Period for travel on the Warrant Holder and its Code
                      Share Partners, and (ii) the right to exercise
                      Warrants for [**]% of such Shares shall not accrue
                      unless and until the Company has, on an aggregated
                      basis during the applicable Measuring Period,
                      received at least $[**] million of Net Revenues from
                      tickets sold during such Measuring Period for travel
                      on the Warrant Holder and its Code Share Partners.

                (iv)  Notwithstanding the Net Revenue benchmarks specified
                      in clauses (i) and (ii) of this Section 4(b) for the
                      early exercisability of Warrants, if, in any
                      Measuring Period, the Company fails to achieve the
                      minimum Net Revenues from ticket sales for travel on
                      Warrant Holder and its Code Share Partners necessary
                      to enable Warrant Holder to exercise Warrants for the
                      [**]% or [**]% portion of Shares that would otherwise
                      become exercisable if such benchmarks were achieved
                      during such Measuring Period, then, effective on the
                      last day of such Measuring Period and thereafter,
                      Warrant Holder (i) shall have the right to exercise
                      Warrants for the [**]% portion of Warrants that would
                      otherwise become exercisable upon achieving the
                      corresponding Net Revenue benchmark for such
                      Measuring Period, if Warrant Holders and its Code
                      Share Partners' percentage of the aggregate of all
                      ticket sale revenues (calculated using the same
                      methodology used to calculate Net Revenue hereunder)
                      received by the Company for U.S. originating O&D's
                      for such Measuring Period equals or exceeds [**]% of
                      Warrant Holder's Fair Share (as defined in Section
                      4(c) below)(the "[**]% Fair Share Threshold"), and (ii)
                      shall have the right to exercise Warrants for the [**]%
                      portion of Warrants that would otherwise become
                      exercisable upon achieving the corresponding Net
                      Revenue benchmark for such Measuring Period, if
                      Warrant Holder's and its Code Share Partners'
                      percentage of the aggregate of all ticket sale
                      revenues received by the Company for U.S. originating
                      O&D's for such Measuring Period equals or exceeds
                      [**]% of Warrant Holder's Fair Share (the "[**]% Fair
                      Share Threshold"). For purposes of determining
                      whether Warrant Holder achieves the [**]% Fair Share
                      Threshold and/or the [**]% Fair Share Threshold for
                      the first, and only the first, Measuring Period, the
                      parties shall calculate Warrant Holder's and its Code
                      Share Partners' percentage of the Company's ticket
                      sale revenues for U.S. originating O&D's for such
                      period based on either (i) their percentage of the
                      aggregate of all ticket sale revenues received by the
                      Company for ticket sales for U.S. originating O&D's
                      during the entire first Measuring Period, or (ii)
                      their percentage of the aggregate of all ticket sale
                      revenues received by the Company for ticket sales for
                      U.S. originating O&D's during the final six (6)
                      months of the First Measuring Period, whichever is
                      more favorable for the Warrant Holder.

                (v)   In the event that the Company does not achieve the
                      $[**] million Net Revenue benchmark specified in
                      clauses (i) of this Section 4(b) and Warrant Holder
                      does not achieve the [**]% Fair Share Threshold
                      specified in clause (iii) of this Section 4(b) for
                      the early exercisability of Warrants for the first
                      Measuring Period, Warrant Holder shall have the right
                      upon completion of the first Measuring Period and
                      thereafter to exercise Warrants for the [**]% portion
                      of Warrants that would otherwise become exercisable
                      upon the Company's achieving the $[**] million Net
                      Revenue benchmark or Warrant Holder's achieving the
                      [**]% Fair Share Threshold for such Measuring Period,
                      if, during the entire term of the first Measuring
                      Period, Warrant Holder does not voluntarily
                      participate in any name-your-price airline ticket
                      service other than the Company's and its affiliates'
                      airline ticket services.

                (vi)  In the event that the Company does not achieve the
                      $[**] million Net Revenue benchmark specified in
                      clause (ii) of this Section 4(b) and Warrant Holder
                      does not achieve the [**]% Fair Share Threshold
                      specified in clause (iii) of this Section 4(b) for
                      the early exercisability of Warrants for the second
                      Measuring Period, Warrant Holder shall have the right
                      upon completion of the second Measuring Period and
                      thereafter to exercise Warrants for [**]% of the [**]%
                      portion of the Warrants that would have otherwise
                      become exercisable upon the Company's achieving the
                      $[**] million Net Revenue benchmark or Warrant
                      Holder's achieving the [**]% Fair Share Threshold for
                      such Measuring Period, if, during the entire term of
                      the second Measuring Period, Warrant Holder does not
                      voluntarily participate in any name-your-price
                      airline ticket service other than the Company's and
                      its affiliates' airline ticket services.

                (vii) In the event that the Company does not achieve the
                      $[**] million Net Revenue benchmark specified in
                      clause (ii) of this Section 4(b) and Warrant Holder
                      does not achieve the [**]% Fair Share Threshold
                      specified in clause (iii) of this Section 4(b) for
                      the early exercisability of Warrants for the third
                      Measuring Period, Warrant Holder shall have the right
                      upon completion of the third Measuring Period and
                      thereafter to exercise Warrants for [**]% of the [**]%
                      portion of the Warrants that would have otherwise
                      become exercisable upon the Company's achieving the
                      $[**] million Net Revenue benchmark or Warrant
                      Holder's achieving the [**]% Fair Share Threshold for
                      such Measuring Period, if, during the entire term of
                      the third Measuring Period, Warrant Holder does not
                      voluntarily participate in any name-your-price
                      airline ticket service other than the Company's and
                      its affiliates' airline ticket services.

           (c)  Measuring Periods and Net Revenue.

                (i)   As used in this Warrant Agreement, the term
                      "Measuring Period" shall mean a 12-month period, with
                      the first such Measuring Period commencing on the
                      Date the Warrant Holder first provides tickets for
                      sale by the Company (the "First Ticket Date").
                      Subsequent Measuring Periods will expire on the
                      second, third, fourth and fifth anniversary of the
                      First Ticket Date, respectively, except that the
                      fifth Measuring Period shall end on the fifth (5th)
                      anniversary of the Issue Date.

                (ii)  As used in this Warrant Agreement, the term "Net
                      Revenue" shall mean the total ticket revenue received
                      by the Company from tickets sold for travel on the
                      Warrant Holder and its Code Share Partners, net of
                      federal excise and segment taxes, passenger facility
                      charges and related fees. The parties acknowledge
                      that credit card processing fees, and any processing
                      fees or similar fees charged by the Company to the
                      consumer in connection with the sale of a ticket
                      shall not be included in the calculation of Net
                      Revenue.. Attached hereto as Exhibit D is an example
                      of the calculation of Net Revenue.

                (iii) As used in this Warrant Agreement, the term "Fair
                      Share" shall mean Warrant Holder's domestic market
                      share calculated as a fraction, the numerator of
                      which shall be Warrant Holder's RPM's for U.S.
                      originating O&D's only, and the denominator of which
                      shall be the total RPM's for U.S. originating O&D's
                      only of all of the Company's participating airlines.

      5.   Exercise of Purchase Rights.

           (a)  Subject to the provisions of Section 4 of this Warrant
 Agreement, the purchase rights represented by this Warrant Agreement are
 exercisable by the Warrant Holder, in whole or in part, at any time, or
 from time to time during the period set forth in Section 3 above, by
 tendering to the Company at its principal office a duly completed and
 executed notice of exercise in the form attached hereto as Exhibit A (the
 "Notice of Exercise"), the Warrants and the Exercise Price.  Upon receipt
 of such items, the Company shall issue to the Warrant Holder a certificate
 for the number of shares of Common Stock purchased.  The Warrant Holder,
 upon exercise of the Warrants, shall be deemed to have become the holder of
 the Shares represented thereby (and such Shares shall be deemed to have
 been issued) immediately prior to the close of business on the date or
 dates upon which the Warrants are exercised.  In the event of any exercise
 of the rights represented by the Warrants, certificates for the Shares so
 purchased shall be delivered to the Warrant Holder or its designee as soon
 as practical and in any event within ten (10) business days after receipt
 of such notice and, unless the Warrants have been fully exercised or
 expired, new Warrants representing the remaining portion of the Warrants
 and the underlying Shares, if any, with respect to which this Warrant
 Agreement shall not then have been exercised shall also be issued to the
 Warrant Holder as soon as possible and in any event within such ten-day
 period.

           (b)  Net Issue Exercise.  Notwithstanding any provisions herein
 to the contrary, if the fair market value of one share of the Company's
 Common Stock is greater than the Exercise Price (at the date of calculation
 as set forth below), in lieu of exercising the Warrants for cash, the
 Warrant Holder may elect to receive shares equal to the value (as
 determined below) of the Warrants (or portion thereof being canceled) by
 surrender of the Warrants at the principal office of the Company together
 with the duly executed Notice of Exercise in which event the Company shall
 issue to the Warrant Holder a number of shares of Common Stock computed
 using the following formula:  X=Y(A-B)/ A WHERE X= the number of shares of
 Common Stock to be issued to the Warrant Holder; Y= the number of shares of
 the Common Stock purchasable under the Warrants or, if only a portion of
 the Warrants is being exercised, the portion of the Warrants being canceled
 (at the date of such calculation); A= the fair market value of one share of
 the Company's Common Stock (at the date of such calculation); and B=
 Exercise Price (at the date of such calculation).  For purposes of the
 above calculation, fair market value of one share of the Common Stock shall
 be equal to the closing trading price of the Company's Common Stock on the
 day immediately prior to the date the Notice of Exercise is tendered to the
 Company.

      6.   Reservation of Shares.  The Company will at all times have
 authorized and reserved a sufficient number of shares of Common Stock to
 provide for the exercise of the rights to purchase the Shares as provided
 in this Warrant Agreement.  All of the Shares shall be duly authorized and,
 when issued upon such exercise, shall be validly issued, fully paid and
 nonassessable, and free and clear of all preemptive rights.

      7.   No Fractional Shares.  No fractional shares or scrip representing
 fractional shares shall be issued upon the exercise of the Warrant Holder's
 rights to purchase the Shares.

      8.   No Rights as Shareholder.  This Warrant Agreement does not
 entitle the Warrant Holder to any voting rights or other rights as a
 shareholder of the Company prior to the exercise of the Warrant Holder's
 rights to purchase the Shares as provided for herein.

      9.   Redemption.  The Warrants represented by this Warrant Agreement
 are not redeemable by the Company.

      10.  Adjustment Rights.  The Exercise Price and the number of shares
 of Common Stock purchasable hereunder are subject to adjustment from time
 to time, as follows:

           (a)  Merger.  If at any time there shall be a merger or
 consolidation of the Company with or into another corporation when the
 Company is not the surviving corporation, then, as part of such merger or
 consolidation, lawful provision shall be made so that the holder of the
 Warrants evidenced hereby shall thereafter be entitled to receive upon
 exercise of rights herein granted, during the period specified herein and
 upon payment of the aggregate Exercise Price, the number of shares of stock
 or other securities or property of the successor corporation resulting from
 such merger or consolidation, to which a holder of the stock deliverable
 upon exercise of the rights granted in this Warrant Agreement would have
 been entitled in such merger or consolidation if such rights had been
 exercised immediately before such merger or consolidation.  In any such
 case, appropriate adjustment shall be made in the application of the
 provisions of this Warrant Agreement with respect to the rights and
 interests of the holder after the merger or consolidation.  The Company
 will not effect any such merger or consolidation unless, prior to the
 consummation thereof, the successor corporation shall assume, by written
 instrument reasonably satisfactory in form and substance to the Warrant
 Holder, the obligations of the Company under the Warrants.

           (b)  Reclassification, Etc.  If the Company at any time shall, by
 subdivision, combination or reclassification of securities or otherwise,
 change any of the securities as to which purchase rights under this Warrant
 Agreement exist into the same or a different number of securities of any
 other class or classes, this Warrant Agreement shall thereafter represent
 the right to acquire such number and kind of securities as would have been
 issuable as the result of such change with respect to the securities which
 were subject to the purchase rights under this Warrant Agreement
 immediately prior to such subdivision, combination, reclassification or
 other change.

           (c)  Split, Subdivision or Combination of Shares.  If the Company
 at any time shall split or subdivide its Common Stock, the Exercise Price
 shall be proportionately decreased and the number of Shares issuable
 pursuant to this Warrant Agreement shall be proportionately increased.  If
 the Company at any time shall combine or reverse split its Common Stock,
 the Exercise Price shall be proportionately increased and the number of
 Shares issuable pursuant to this Warrant Agreement shall be proportionately
 decreased.

           (d)  Stock Dividends.  If the Company at any time shall pay a
 dividend payable in Common Stock, then the Exercise Price shall be
 adjusted, from and after the date of determination of stockholders entitled
 to receive such dividend, to that price determined by multiplying the
 Exercise Price in effect immediately prior to such date of determination by
 a fraction (i) the numerator of which shall be the total number of shares
 of Common Stock outstanding immediately prior to such dividend and (ii) the
 denominator of which shall be the total number of shares of Common Stock
 outstanding immediately after such dividend.  The Warrant Holder shall
 thereafter be entitled to purchase, at the Exercise Price resulting from
 such adjustment, the number of shares of Common Stock (calculated to the
 nearest whole share) obtained by multiplying (i) the Exercise Price in
 effect immediately prior to such adjustment by (ii) the number of shares of
 Common Stock issuable upon the exercise hereof immediately prior to such
 adjustment and dividing the product thereof by the Exercise Price resulting
 from such adjustment.

           (e)  Other Changes.  If any change in the outstanding Common
 Stock of the Company or any other event occurs as to which the other
 provisions of this Section 10 are not strictly applicable or if strictly
 applicable, would not fairly protect the purchase rights of the Warrant
 Holder in accordance with such provisions, then the Board of Directors of
 the Company shall make an adjustment in the number of and class of shares
 available under the Warrants, the Exercise Price or the application of such
 provisions, so as to protect the purchase rights of the Warrant Holder.
 The adjustment shall be such as will give the Warrant Holder upon exercise
 for the same aggregate Exercise Price the total number, class and kind of
 shares or other property as the Warrant Holder would have owned had the
 Warrants been exercised prior to the event and had the Warrant Holder
 continued to hold such shares until after the event requiring adjustment.

           (f)  Notice of Adjustments; Notices.  Whenever the Exercise Price
 or number of shares purchasable hereunder shall be adjusted pursuant to
 Section 10 hereof, the Company shall issue a certificate signed by its
 Chief Executive Officer or Chief Financial Officer setting forth, in
 reasonable detail, the event requiring the adjustment, the amount of the
 adjustment, the method by which such adjustment was calculated and the
 Exercise Price and number of shares purchasable hereunder after giving
 effect to such adjustment, and shall cause a copy of such certificate to be
 mailed (by first class mail, postage prepaid) to the holder of this
 Warrant.  The Company shall give written notice to the Warrant Holder at
 least 10 days prior to the date on which the Company closes its books or
 takes a record for determining rights to receive any dividends or
 distributions.  The Company shall also give written notice to the Warrant
 Holder at least 30 business days prior to the date on which a merger or
 consolidation of the Company with or into another corporation when the
 Company is not the surviving corporation shall take place.

           (g)  No Change of Warrant Necessary.  Irrespective of any
 adjustment in the Exercise Price or in the number or kind of securities
 issuable upon exercise of the Warrant, unless the Warrant Holder otherwise
 requests, this Warrant Agreement may continue to express the same price and
 number and kind of shares of Common Stock as are stated in this Warrant
 Agreement as initially executed.

      11.  Representations and Warranties of the Warrant Holder.

      The Warrant Holder hereby represents and warrants to the Company as
 follows:

           (a)  Existence and Power.  The Warrant Holder is a (i) is a
 corporation duly organized, validly existing and in good standing under the
 laws of the jurisdiction of its incorporation and (ii) has the corporate
 power and authority to execute, deliver and perform its obligations under
 this Warrant Agreement.

           (b)  Authorization; No Contravention.  The execution, delivery
 and performance by the Warrant Holder of this Warrant Agreement and the
 transactions contemplated hereby (i) have been duly authorized by all
 necessary corporate action of the Warrant Holder and (ii) do not contravene
 the terms of the Certificate of Incorporation or By-laws of the Warrant
 Holder, each as amended as of and through the Issue Date.

           (c)  Governmental Authorization; Third Party Consents.  No
 approval, consent, compliance, exemption or authorization of any
 governmental authority or agency, or of any other person or entity, is
 necessary or required in connection with the execution, delivery or
 performance by, or enforcement against, the Warrant Holder of this Warrant
 Agreement or the transactions contemplated hereby.

           (d)  Binding Effect.  This Warrant Agreement has been duly
 executed and delivered by the Warrant Holder and constitutes the valid and
 binding obligations of the Warrant Holder, enforceable against it in
 accordance with its terms, except as enforceability may be limited by
 applicable bankruptcy, insolvency, reorganization, fraudulent conveyance or
 transfer, moratorium or similar laws affecting the enforcement of
 creditors' rights generally or by equitable principles relating to
 enforceability (regardless of whether considered in a proceeding at law or
 in equity).

           (e)  Purchase for Own Account.  The Warrants issued to the
 Warrant Holder pursuant to this Warrant Agreement, and the Shares to be
 issued upon vesting and exercise thereof, are being or will be acquired for
 the Warrant Holder's own account and with no intention of distributing or
 reselling such securities or any part thereof in any transaction that would
 be in violation of the securities laws of the United States of America, or
 any state.

           (f)  Restricted Securities.  The Warrant Holder understands that
 the Warrants and the Shares issuable upon vesting and exercise of the
 Warrants, will not be registered at the time of their issuance under the
 Securities Act for the reason that the sale provided for in this Agreement
 is exempt pursuant to Section 4(2) of the Securities Act and that reliance
 of the Company on such exemption is predicated in part on such Warrant
 Holder's representations set forth herein.  The Warrant Holder represents
 that it is experienced in evaluating companies such as the Company, has
 such knowledge and experience in financial and business matters as to be
 capable of evaluating the merits and risks of its investment and has the
 ability to suffer the total loss of the investment.  The Warrant Holder
 further represents that it has had the opportunity to ask questions of and
 receive answers from the Company concerning the terms and conditions of the
 Warrants, the business of the Company, and to obtain additional information
 to such Warrant Holder's satisfaction.

           (g)  Accredited Investor.  The Warrant Holder is an "Accredited
 Investor" within the meaning of Rule 501 of Regulation D under the
 Securities Act, as presently in effect.

      12.  Compliance with Securities Act; Transferability of Warrant or
 Shares of Common Stock.

           (a)  Compliance with Securities Act.  The Warrant Holder, by
 acceptance hereof, agrees that the Warrants, and the shares of Common Stock
 to be issued upon exercise of the Warrants, are being acquired for
 investment and that such Warrant Holder will not offer, sell or otherwise
 dispose of the Warrants, or any shares of Common Stock to be issued upon
 exercise of the Warrants except under circumstances which will not result
 in a violation of the Securities Act of 1933, as amended (the "Securities
 Act"), or any applicable state securities laws.  The Warrants and all
 shares of Common Stock issued upon exercise of the Warrants (unless
 registered under) the Securities Act and any applicable state securities
 laws) shall be stamped or imprinted with a legend in substantially the
 following form:

      "THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
 1933, AS AMENDED, OR ANY STATE SECURITIES LAW.  THEY MAY NOT BE SOLD OR
 OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE
 ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO UNDER SAID
 ACT AND APPLICABLE STATE SECURITIES LAWS OR UNLESS THE COMPANY HAS RECEIVED
 AN OPINION OF COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED TO EFFECTUATE
 SUCH TRANSACTION."

           (b)  Exchange, Transfer, Assignment.  The Warrants cannot be
 exchanged, transferred or assigned otherwise than in accordance with
 applicable law. Upon compliance with applicable law and surrender of the
 Warrants to the Company with the Assignment Form annexed hereto as Exhibit
 B duly executed, and funds sufficient to pay any transfer tax, the Company
 shall, without charge, execute and deliver a new Warrant Agreement in the
 name of the heir, devisee or assignee named in such instrument of
 assignment and this Warrant Agreement shall promptly be canceled.  Subject
 to the terms hereof, the Warrants may be assigned in whole or in part.

      13.  Restricted Securities.  The Warrant Holder understands that the
 Warrants and the Shares issuable upon vesting and exercise of the Warrants,
 will not be registered at the time of their issuance under the Securities
 Act for the reason that the sale provided for in this Agreement is exempt
 pursuant to Section 4(2) of the Securities Act based on the representations
 of the warrant Holder set forth herein.  The Warrant Holder represents that
 it is experienced in evaluating companies such as the Company, has such
 knowledge and experience in financial and business matters as to be capable
 of evaluating the merits and risks of its investment and has the ability to
 suffer the total loss of the investment.  The Warrant Holder further
 represents that it has had the opportunity to ask questions of and receive
 answers from the Company concerning the terms and conditions of the
 Warrants, the business of the Company, and to obtain additional information
 to such Warrant Holder's satisfaction.  The Warrant Holder is an
 "Accredited Investor" within the meaning of Rule 501 of Regulation D under
 the Securities Act, as presently in effect.

      14.  Registration Rights. Upon the parties' execution of this Warrant
 Agreement and the Acknowledgment and Agreement to the Amended and Restated
 Registration Rights Agreement attached hereto as Exhibit C, Warrant Holder
 shall be made a party to that certain Amended and Restated Registration
 Rights Agreement, dated as of December 8, 1998, by and among the Company,
 the stockholders of the Company named therein and such other stockholders
 and warrant holders of the Company made a party thereto.  In addition,
 within 30 days of the execution of this Warrant Agreement, the Company
 agrees to enter into an agreement with Warrant Holder, in form and
 substance reasonably satisfactory to Warrant Holder, which shall grant
 Warrant Holder the right to transfer its registration rights pursuant to
 such Amended and Restated Registration Rights Agreement dated as of
 December 8, 1998 to any assignee or assignees of all or any part of this
 Warrant or the Shares issuable upon exercise hereof, which assignees, upon
 their execution and delivery of an Acknowledgment and Agreement to the
 Amended and Restated Registration Rights Agreement substantially in the
 form of Exhibit C hereto (with appropriate changes therein) shall each have
 all the rights and obligations of a Demand Stockholder (as defined in such
 Agreement) under such Agreement; provided that no registration statement
 with respect to less than a minimum of 250,000 Shares shall be required to
 be effected by the Company thereunder for the benefit of any such assignee.

      15.  Miscellaneous.

           (a)  No Consequential Damages.  No party hereto shall be entitled
 to consequential damages as a result of any breach of a covenant,
 representation or warranty contained herein.

           (b)  Notices.  All notices, demands and other communications
 provided for or permitted hereunder shall be made in writing and shall be
 by registered or certified first-class mail, return receipt requested,
 telecopier, courier service or personal delivery:

                (i)  if to the Company, to:
                     priceline.com Incorporated
                     Five High Ridge Park
                     Stamford, CT 06905
                     Telecopy:  (203) 595-8345
                     Attention:  Melissa M. Taub, Esq.

                and to:

                     Skadden, Arps, Slate, Meagher, & Flom, L.L.P.
                     One Rodney Square
                     Wilmington, DE  19801
                     Telecopy:  (302) 651-3001
                     Attention:  Patricia Moran Chuff, Esq.

                (ii) if to the Warrant Holder, to:
                     United Air Lines, Inc.
                     1200 East Algonquin Road
                     Elk Grove Township, IL  60007
                     Attention:  Scott Praven
                     Vice President   Revenue Management
                     Phone:    847-700-5051
                     Fax: 847-700-2534

                and to:

                     United Air Lines, Inc.
                     1200 East Algonquin Road
                     Elk Grove Township, IL  60007
                     Telephone:847-700-6250
                     Telecopy:  847-700-4683
                     Attention:  Fran Maher
                     General Counsel

           (c)  All such notices and communications shall be deemed to have
 been duly given when delivered by hand, if personally delivered; when
 delivered by courier, if delivered by commercial courier service; five (5)
 business days after being deposited in the mail, postage prepaid, if
 mailed; and when receipt is mechanically acknowledged, if telecopied.

           (d)  Successors and Assigns; Third Party Beneficiaries.  This
 Agreement shall inure to the benefit of and be binding upon the successors
 and permitted assigns of the parties hereto. No person, other than the
 parties hereto and their successors and permitted assigns, is intended to
 be a beneficiary of this Agreement.

           (e)  Amendment and Waiver.

                (i)   No failure or delay on the part of the Company, or
                      the Warrant Holder in exercising any right, power or
                      remedy hereunder shall operate as a waiver thereof,
                      nor shall any single or partial exercise of any such
                      right, power or remedy preclude any other or further
                      exercise thereof or the exercise of any other right,
                      power or remedy. The remedies provided for herein are
                      cumulative and are not exclusive of any remedies that
                      may be available to the Company and the Warrant
                      Holder at law, in equity or otherwise.

                (ii)  Any amendment, supplement or modification of or to
                      any provision of this Warrant Agreement, any waiver
                      of any provision of this Warrant Agreement, and any
                      consent to any departure by the Company or the
                      Warrant Holder from the terms of any provision of
                      this Agreement, shall be effective only if it is made
                      or given in writing and signed by the Company and the
                      Warrant Holder.

           (f)  Counterparts.  This Warrant Agreement may be executed in any
 number of counterparts and by the parties hereto in separate counterparts,
 each of which when so executed shall be deemed to be an original and all of
 which taken together shall constitute one and the same agreement.

           (g)  Headings.  The headings in this Warrant Agreement are for
 convenience of reference only and shall not limit or otherwise affect the
 meaning hereof.

           (h)  GOVERNING LAW.  THIS WARRANT AGREEMENT SHALL BE GOVERNED BY
 AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT
 REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW OF ANY JURISDICTION.

           (i)  Severability.  If any one or more of the provisions
 contained herein, or the application thereof in any circumstance, is held
 invalid, illegal or unenforceable in any respect for any reason, the
 validity, legality and enforceability of any such provision in every other
 respect and of the remaining provisions hereof shall not be in any way
 impaired, unless the provisions held invalid, illegal or unenforceable
 shall substantially impair the benefits of the remaining provisions hereof.

           (j)  Entire Agreement.  This Warrant Agreement, together with the
 exhibits hereto is intended by the parties as a final expression of their
 agreement and intended to be a complete and exclusive statement of the
 agreement and understanding of the parties hereto in respect of the subject
 matter contained herein.  This Warrant Agreement, together with the
 exhibits hereto, supersedes all prior agreements and understandings between
 the parties with respect to such subject matter.

           (k)  Publicity.  Except as may be required by law, none of the
 parties hereto shall issue a publicity release or public announcement or
 otherwise make any disclosure concerning this Warrant Agreement or the
 transactions contemplated hereby, without prior approval by the other party
 (which approval shall not be unreasonably withheld); provided, however,
 that nothing in this Warrant Agreement shall restrict the Warrant Holder
 from disclosing information (a)that is already publicly available and (b)
 to its attorneys, accountants, consultants and other advisors to the extent
 necessary to obtain their services in connection with the Warrant Holder's
 investment or participation in the Company.  If any announcement is
 required by law to be made by any party hereto concerning this Warrant
 Agreement or the transactions contemplated hereby, prior to making such
 announcement such party will deliver a draft of such announcement to the
 other parties and shall give the other parties an opportunity to comment
 thereon.

           (l)  Charges; Taxes and Expenses.  Issuance of certificates for
 shares upon the exercise of the Warrants shall be made without charge to
 the Warrant Holder for any issue or transfer tax or other incidental
 expense in respect of the issuance of such certificates, all of which taxes
 and expenses shall be paid by the Company.

           (m)  Saturdays, Sundays, Holidays, Etc.  If the last or appointed
 day for the taking of any action or the expiration of any right required or
 granted herein shall be a Saturday, Sunday or a legal holiday, then such
 action may be taken or such right may be exercised on the next succeeding
 day not a Saturday, Sunday or a legal holiday.

           (n)  Lost Warrants.  The Company covenants to the Warrant Holder
 that, upon receipt of evidence reasonably satisfactory to the Company of
 the loss, theft, destruction or mutilation of this Warrant Agreement and,
 in the case of any such loss, theft or destruction, upon receipt of an
 indemnity reasonably satisfactory to the Company, or in the case of any
 such mutilation, upon surrender and cancellation of this Warrant Agreement,
 the Company will make and deliver a new Warrant Agreement of like tenor, in
 lieu of the lost, stolen, destroyed or mutilated document.

           (o)  Further Assurances.  Each of the parties shall execute such
 documents and perform such further acts (including, without limitation,
 obtaining any consents, exemptions, authorizations or other actions by, or
 giving any notices to, or making any filings with, any governmental
 authority or any other person, and otherwise fulfilling, or causing the
 fulfillment of, the various obligations made herein), as may be reasonably
 required or desirable to carry out or to perform the provisions of this
 Warrant Agreement and to consummate and make effective as promptly as
 possible the transactions contemplated by this Warrant Agreement.

 IN WITNESS WHEREOF, this Warrant Agreement has been duly executed and
 delivered by the authorized officers of each of the undersigned.

                               PRICELINE.COM INCORPORATED

                               By: _____________________________
                                   Name:
                                   Title:

                               UNITED AIR LINES, INC.

                               By: _____________________________
                                   Name:
                                   Title:

 EXHIBIT A

 NOTICE OF EXERCISE

 To:  priceline.com Incorporated

           1.   ___  The undersigned hereby elects to purchase __________
 shares of the Common Stock of priceline.com Incorporated pursuant to the
 terms of the Participation Warrant Agreement, dated as of __________, 1999,
 by and between priceline.com Incorporated and the undersigned (the
 "Warrant Agreement"), and tenders herewith payment of the purchase price
 of such shares in full.

                ___  The undersigned hereby elects to convert ___________
 percent (____%) of the value of the Warrants pursuant to the provisions of
 Section 5(b) of the Warrant Agreement.

           2.   Please issue a certificate or certificates representing said
 shares in the name of the undersigned.

                                  UNITED AIR LINES, INC.

                                  By: _____________________________

                                  _________________________________
                                  (Print Name of Signatory)

                                  _________________________________
                                  (Title of Signatory)

 Date: ________________

 EXHIBIT B

 ASSIGNMENT FORM

 TO:  priceline.com Incorporated

 The undersigned hereby assigns and transfers unto ________________________
 of _______________________________________________________________________
            (Please typewrite or print in block letters)
 the right to purchase ____________ shares of the common stock of
 priceline.com Incorporated subject to the Participation Warrant Agreement,
 dated as of ________________, 1999, by and between priceline.com
 Incorporated and the undersigned (the "Warrant Agreement").

 This assignment complies with the provisions of Section 12(b) of the
 Warrant Agreement and is accompanied by funds sufficient to pay all
 applicable transfer taxes.

                                  UNITED AIR LINES, INC.

                                  By: _____________________________

                                  _________________________________
                                  (Print Name of Signatory)

                                  _________________________________
                                  (Title of Signatory)

 Date: ________________

 EXHIBIT C

                        ACKNOWLEDGMENT AND AGREEMENT
         TO THE AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

      WHEREAS, pursuant to a Participation Warrant Agreement, the
 undersigned received a warrant to purchase 5,500,000 shares of common
 stock, par value $.008 per share (the "Shares"), of priceline.com
 Incorporated, a Delaware corporation (the "Company"); and

      WHEREAS, the undersigned wishes to receive certain registration rights
 with respect to such Shares; and

      WHEREAS, the undersigned has reviewed a copy of that certain Amended
 and Restated Registration Rights Agreement, dated as of December 8, 1998
 (the "Agreement"), among the Company, General Atlantic Partners 48, L.P.,
 GAP Coinvestment Partners, L.P., General Atlantic Partners 50, L.P. and the
 stockholders named therein and has been given a copy of the Agreement and
 afforded ample opportunity to read and to have counsel review it, and the
 undersigned is thoroughly familiar with its terms.

      NOW, THEREFORE, in consideration of the mutual premises contained
 herein and in the Agreement and for other good and valuable consideration,
 the receipt and sufficiency of which is hereby acknowledged, the
 undersigned hereby acknowledges and agrees that (i) the undersigned has
 been given a copy of the Agreement and afforded ample opportunity to read
 and to have counsel review it, and the undersigned is thoroughly familiar
 with its terms, (ii) the Shares are subject to terms and conditions set
 forth in the Agreement, (iii) the undersigned does hereby agree fully to be
 bound by the Agreement as a "Demand Stockholder" (as therein defined), and
 upon the execution and delivery of this Acknowledgment and Agreement by the
 Company, the undersigned shall have all the rights and obligations under
 the Agreement as a Demand Stockholder, and (iv) the undersigned does hereby
 name _________________to serve as their representative under the Agreement.

      This 15th day of November, 1999.

 Acknowledged and agreed:

 PRICELINE.COM INCORPORATED                UNITED AIR LINES, INC.

 By: ___________________________           By: __________________________
     Name:                                     Name:
    Title:                                     Title:

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