Document:

Form of Non-Employee Director Option Grant Document

 EXHIBIT 4.5 

FORM OF 

NON-EMPLOYEE DIRECTOR 

OPTION GRANT DOCUMENT 

Pursuant to the 

Continental Airlines, Inc. Incentive Plan 2010 (the “Plan”) 

IF THE HOLDER ACCEPTS THIS OPTION, THE HOLDER AGREES TO BE BOUND BY ALL OF THE TERMS, PROVISIONS, CONDITIONS AND LIMITATIONS OF THE PLAN AND THIS
OPTION GRANT DOCUMENT. 
 IN ADDITION TO ANY ELECTRONIC CONFIRMATION AND/OR ACCEPTANCE PROCEDURES ESTABLISHED FOR THIS OPTION GRANT
DOCUMENT, ANY EXERCISE OF THIS OPTION SHALL EVIDENCE HOLDER’S ACCEPTANCE OF THE TERMS, PROVISIONS, CONDITIONS AND LIMITATIONS OF THE PLAN AND THIS OPTION GRANT DOCUMENT. 

THE PLAN IS HEREBY INCORPORATED BY REFERENCE INTO THIS OPTION GRANT DOCUMENT. CAPITALIZED TERMS USED BUT NOT DEFINED HEREIN SHALL HAVE THE MEANINGS
ASCRIBED THERETO IN THE PLAN. 
 1. Grant of Option. The Holder has been granted an Option
pursuant to the terms of this Option Grant Document (and under and subject to the terms of the Plan) to purchase shares of Common Stock of the Company. The number of shares of Common Stock (“Shares”) subject to this Option Grant
Document and the date of grant (“Grant Date”) are as set forth in the records of the Company and as communicated to the Holder 

 
by the Company directly or through the systems (which may include online systems) of a third party administrator engaged by the Company for such purpose and available for review by Holder in
connection with this Option Grant Document. In the event of any conflict between any communications to the Holder by the Company, the records of any third party administrator, and the records of the Company (including the approval by the
Administrator of the Company’s stock option grant policy for non-employee Directors), the records of the Company shall control. The Shares, when issued to the Holder upon the exercise of the Option, shall be fully paid and nonassessable.
The Option is not intended to qualify as an Incentive Stock Option. [ Notwithstanding the foregoing or any other provision of this Option Grant Document, this Option is subject to approval of the Plan by the stockholders of the Company and shall
terminate if the Plan is not approved by the stockholders of the Company at the Company’s 2010 annual meeting of stockholders.] 

2. Option Term. Subject to earlier termination as provided herein, the Option shall terminate on the tenth anniversary
of the Grant Date. The period during which the Option is in effect is referred to as the “Option Period.” 

3. Option Price. The grant price or exercise price (the “Option Price”) of the Shares subject to the Option
shall be equal to the Market Value per Share on the Grant Date. 
 4. Vesting. [FOR OPTIONS AWARDED PRIOR TO
STOCKHOLDER APPROVAL: The total number of Shares subject to this Option shall vest immediately upon the later of (i) the Grant Date and (ii) the date that the Plan is approved by the stockholders of the Company.] [FOR OPTIONS AWARDED
AFTER STOCKHOLDER APPROVAL: The total number of Shares subject to this Option shall vest immediately upon the Grant Date.] The vested Shares that may be acquired under the Option may be purchased at any time after they become vested, in
whole or in part, during the Option Period. 
 5. Method of Exercise and Payment. The Option or a portion
thereof may be exercised by delivery of an irrevocable notice to the Company (or, if applicable, to a third party administrator engaged by the Company to perform services for the Company with respect to the Plan) stating the number of Shares with
respect to which the Option is being exercised together with payment for such Shares. Payment shall be made (i) in cash or by check acceptable to the Company, (ii) in nonforfeitable, unrestricted shares of the Company’s Common
Stock owned by Holder at the time of exercise of the Option having an aggregate market value (measured by the Market Value per Share) at the date of exercise equal to the aggregate exercise price of the Option being exercised or (iii) by a
combination of (i) and (ii). In addition, at the request of Holder, and to the extent permitted by applicable law and subject to Paragraph 13, the Option may be exercised pursuant to a “cashless exercise” arrangement with any
brokerage firm approved by the Administrator or its delegate under which arrangement such brokerage firm, on behalf of Holder, shall pay to the Company the exercise price of the Options being exercised, and the Company, pursuant to an irrevocable
notice from Holder, shall promptly after receipt of the exercise price deliver the shares being purchased to such firm. Holder acknowledges and agrees that the Company may provide personal information about Holder and information concerning the
Option or any other Award under the Plan to any third party engaged by the Company to provide administrative or brokerage services relating to the Plan. 

6. Termination of Board Service. The Option shall terminate on, and may not be exercised after the earlier of
(i) the date that is one year after termination of Holder’s service on the Board for any reason and (ii) the expiration of the Option Period. 

7. No Rights in Shares. Holder shall have no rights as a stockholder in respect of Shares until such Holder becomes the
holder of record of such Shares. 
 8. Certain Restrictions. By exercising the Option, Holder agrees that if at
the time of such exercise the sale of Shares issued hereunder is not covered by an effective registration statement filed under the Securities Act of 1933 (“Act”), Holder will acquire the Shares for Holder’s own account and without a
view to resale or distribution in violation of the Act or any other securities law, and upon any such acquisition Holder will enter into such written representations, warranties and agreements as Company may reasonably request in order to comply
with the Act or any other securities law or with this Option Grant Document. 
 9. Shares Reserved. Company
shall at all times during the Option Period reserve and keep available such number of Shares as will be sufficient to satisfy the requirements of this Option. 

10. Nontransferability of Option. The Option granted pursuant to this Option Grant Document is not transferable other
than by will, the laws of descent and distribution or by qualified domestic relations order. The Option will be exercisable during Holder’s lifetime only by Holder or by Holder’s guardian or Personal Representative. No right or
benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, or torts of Holder. 

 11. Amendment and Termination; Electronic Procedures. No amendment or
termination of the Option shall be made by the Board or the Administrator at any time without the written consent of Holder. No amendment or termination of the Plan will adversely affect the rights, privileges and option of Holder under the
Option without the written consent of Holder. Holder hereby consents and agrees to electronic delivery of any Plan documents, proxy materials, annual reports and other related documents. Holder consents to electronic delivery, review,
confirmation and acceptance procedures with respect to this Option Grant Document and the Option. Holder agrees that his or her electronic signature is the same as, and shall have the same force and effect as, his or her manual
signature. Holder consents and agrees that any such electronic procedures may be effected by a third party engaged by the Company to provide administrative services related to the Plan, including any program adopted under the Plan. 

12. No Guarantee of Board Service. The Option shall not confer upon Holder any right with respect to continuance of
service on the Board, nor shall it interfere in any way with any right to terminate Holder’s Board service at any time. 

13. Withholding of Taxes. Company shall have the right to (i) make deductions from any settlement or exercise of an
Option granted under the Plan, including the delivery of shares, or require shares or cash or both be withheld from any Option, in each case in an amount sufficient to satisfy withholding of any taxes required by law, or (ii) take any other
action as may be necessary or appropriate to satisfy any such tax withholding obligations. 
 14. No Guarantee of Tax
Consequences. Neither the Company nor any subsidiary nor the Administrator makes any commitment or guarantee that any federal, state, local or foreign tax treatment will apply or be available to any person eligible for benefits under the
Option. 
 15. Severability. In the event that any provision of the Option shall be held illegal, invalid, or
unenforceable for any reason, such provision shall be fully severable, but shall not affect the remaining provisions of the Option, and the Option shall be construed and enforced as if the illegal, invalid, or unenforceable provision had never been
included herein. 
 16. Governing Law. The Plan and the Option shall be construed in accordance with
the laws of the State of Texas, without regard to conflicts of laws principles thereof.Form of Non-Employee Director Restricted Stock Award Notice

 EXHIBIT 4.6 

FORM OF 

NON-EMPLOYEE DIRECTOR 

RESTRICTED STOCK AWARD NOTICE 

to                      

 Pursuant to the Continental Airlines, Inc. 

Incentive Plan 2010 

Dated                     ,
20xx 
 This document (this “Award Notice”) constitutes your formal notice of a Restricted Stock Award under the
Continental Airlines, Inc. Incentive Plan 2010 (as amended from time to time, the “Plan”), and is dated as of the date set forth above (the “Grant Date”). 

1. Grant of Restricted Stock. Company hereby grants to you all rights, title and interest in the record and beneficial
ownership of                      (##,###) shares (the “Restricted Stock”) of Common Stock. Capitalized terms used in this notice
have the meanings set forth in the Plan unless otherwise specifically provided. 
 2. Custody of Restricted Stock.
Upon satisfaction of the vesting provision set forth in Paragraph 4 or the occurrence of any of the events contemplated by Paragraph 5(b) or Paragraph 5(c), Company shall issue and deliver to you a certificate or certificates for such number of
shares of Restricted Stock as are required to be issued and delivered under this Award Notice. Prior to the satisfaction of such vesting conditions or the occurrence of such events, the Restricted Stock is not transferable and shall be held in trust
or in escrow pursuant to an arrangement satisfactory to the Administrator until such time as the restrictions on the transfer thereof have expired. No right or benefit hereunder shall in any manner be liable for or subject to any of your debts,
contracts, liabilities, or torts. Notwithstanding any provision herein to the contrary, Company may, in its discretion, elect to complete the delivery of the Restricted Stock and/or vested shares by means of electronic, book-entry statement, rather
than issuing physical share certificates. 
 3. Risk of Forfeiture. Subject to Paragraphs 5(b) and 5(c), if your
membership on the Board terminates prior to the vesting date set forth in Paragraph 4, you shall forfeit the right to receive the Restricted Stock that would otherwise have vested on such date. 

4. Vesting. Subject to Paragraphs 3 and 5, the shares of Restricted Stock subject to this Award Notice shall vest in full
on the first anniversary of the Grant Date. 
 5. Termination of Membership on the Board. Voluntary termination of
membership on the Board, removal from the Board, death or Disability, or termination of your membership on the Board in connection with ineligibility or a Change in Control, shall affect your rights under this Award Notice as follows: 

(a) Voluntary Termination or Removal. If, other than as specified below, you voluntarily terminate membership on the Board or if
you are removed as a member of the Board, then you shall forfeit the right to receive all shares of Restricted Stock that have not theretofore vested pursuant to Paragraph 4. 

 

 1 

 (b) Death or Disability. If your membership on the Board is terminated by death or
Disability, then immediately all nonvested Restricted Stock shall be deemed fully vested, all restrictions (other than described in Paragraph 7) applicable to Restricted Stock shall terminate and Company shall release from escrow or trust and shall
issue and deliver to you or your Personal Representative a certificate or certificates for all Restricted Stock. 
 (c)
Termination for Ineligibility or Removal upon or following a Change in Control. All nonvested Restricted Stock shall be deemed fully vested, all restrictions (other than described in Paragraph 7) applicable to Restricted Stock shall
terminate, and Company shall release from escrow or trust and shall issue and deliver to you a certificate or certificates for all Restricted Stock on the last day of your service as a member of the Board if (i) your membership is terminated
because you are ineligible for nomination to the Board pursuant to the terms of Company’s Corporate Governance Guidelines related to age or (ii) you are removed as a member of the Board upon or following a Change in Control. 

6. Ownership Rights. Subject to the restrictions set forth herein and in the Plan, you are entitled to all voting and
ownership rights applicable to the Restricted Stock, including the right to receive any cash dividends that may be paid on Restricted Stock, whether or not vested. 

7. Certain Restrictions. By accepting the Restricted Stock, you agree that if at the time of delivery of certificates for
shares of Restricted Stock issued hereunder any sale of such shares is not covered by an effective registration statement filed under the Securities Act of 1933, as amended (the “Act”), you will acquire the Restricted Stock for your own
account and without a view to resale or distribution in violation of the Act or any other securities law, and upon any such acquisition you will enter into such written representations, warranties and agreements as Company may reasonably request in
order to comply with the Act or any other securities law or with this Award Notice. 
 8. Amendment and Termination;
Electronic Delivery. No amendment or termination of this Award Notice shall be made by the Board or the Administrator at any time without your written consent. You hereby consent and agree to electronic delivery of any Plan documents, proxy
materials, and other related documents. 
 9. Withholding of Taxes. To the extent that the receipt of the
Restricted Stock or the vesting of shares of Restricted Stock results in compensation income or wages to you for federal, state, local or foreign tax purposes, you shall deliver to Company at the time of such receipt or vesting, as the case may be,
such amount of money as Company may require to meet its minimum obligation under applicable tax laws or regulations, and if you fail to do so, Company is authorized to withhold from any cash or stock remuneration (including withholding any
Restricted Stock or vested shares distributable to you under this Award Notice) then or thereafter 
  

 2 

 
payable to you any tax required to be withheld by reason of such resulting compensation income or wages. You acknowledge and agree that Company is making no representation or warranty as to the
tax consequences to you as a result of the receipt of the Restricted Stock, the vesting of the Restricted Stock or the forfeiture of any shares of Restricted Stock pursuant to the terms of this Award Notice. 

10. Other Requirements; Severability. The shares granted pursuant to this Restricted Stock Award Notice are subject to the
terms, provisions and such additional requirements and restrictions as may be set forth in the Plan and the Company’s Corporate Governance Guidelines, including any applicable stock holding period requirements. In the event that any provision
of this Award Notice shall be held illegal, invalid, or unenforceable for any reason, such provision shall be fully severable, but shall not affect the remaining provisions of this Award Notice and this Award Notice shall be construed and enforced
as if the illegal, invalid, or unenforceable provision had never been included herein. 
 11. Governing Law. This
Award Notice shall be construed in accordance with the laws of the State of Texas, without regard to conflicts of laws principles thereof. 
  

			
	 CONTINENTAL AIRLINES, INC.

		
	 By:
	 	  

		 	 [Name]

		 	 [Title]

  

 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00179-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00179-of-00352.parquet"}]]