Document:

Exhibit 4.1 Form of Global Security representing all 5 3/4% Notes due 2016

    Exhibit
      4.1

     

    

     

    THIS
      SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
      REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A
      DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE
      NAME
      OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED
      CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND, EXCEPT IN SUCH LIMITED
      CIRCUMSTANCES, MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO
      A
      NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY
      OR
      ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE
      TO A
      SUCCESSOR OF THE DEPOSITARY OR A NOMINEE OF SUCH
      SUCCESSOR.

     

    Unless
      this certificate is presented by an authorized representative of The Depository
      Trust Company, a New York corporation (“DTC”), to the Company or its agent for
      registration of transfer, exchange, or payment, and any certificate issued
      is
      registered in the name of Cede & Co. or in such other name as is requested
      by an authorized representative of DTC (and any payment is made to Cede &
Co. or to such other entity as is requested by an authorized representative
      of
      DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR
      TO
      ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co.,
      has an interest herein.

     

    SOUTHWEST
      AIRLINES CO.

     

    5
      3/4% Note Due 2016

     

    No.
      GS-1CUSIP
      #844741AY4

     

    

     

    Southwest
      Airlines Co., a corporation duly organized and existing under the laws of Texas
      (herein called the “Company”, which term includes any successor corporation
      under the Indenture hereinafter referred to), for value received, hereby
      promises to pay to Cede & Co., or registered assigns, the principal sum of
      THREE HUNDRED MILLION DOLLARS on December 15, 2016, and to pay interest thereon
      from December 14, 2006 or from the most recent Interest Payment Date (as
      hereinafter defined) to which interest has been paid or duly provided for,
      semi-annually in arrears on June 15 and December 15 (each, an “Interest Payment
      Date”) in each year, commencing June 15, 2007, at the rate of 5.75% per annum,
      until the principal hereof is fully paid or made available for full payment.
      Interest on this Security shall be computed on the basis of a 360-day year
      of
      twelve 30-day months. The interest so payable, and punctually paid or duly
      provided for, on any Interest Payment Date will, subject to certain exceptions
      provided in such Indenture, be paid to the person in whose name this Security
      is
      registered on the Security register or registers of the Company at the close
      of
      business on June 1 or December 1 (whether or not a Business Day), as the case
      may be, next preceding such Interest Payment Date.

     

    Payment
      of the principal of and interest on this Security will be made in such
      immediately available funds of the United States of America as at the time
      of
      payment are legal tender for payment of public and private debts.

     

    Reference
      is hereby made to the further provisions of this Security set forth below,
      which
      further provisions shall for all purposes have the same effect as if set forth
      in this place.

     

    Unless
      the certificate of authentication hereon has been executed by the Trustee
      referred to below by manual signature, this Security shall not be entitled
      to
      any benefit under the Indenture or be valid or obligatory for any
      purpose.

     

    IN
      WITNESS WHEREOF, the Company has caused this instrument to be duly executed
      under its corporate seal.

     

    Dated:
      December 14, 2006

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
               

            	
                          
                SOUTHWEST AIRLINES CO.

            
	 	 	 
	
              December
                14, 2006

            	
              By:

            	 
	 	 	
              Senior
                Vice President - Finance and

            
	 	 	
              Chief
                Financial Officer

            
	 	 	 
	 	 	 
	 	 	 
	 	 	 

    

    

    ATTEST:

    

    

    

       

    

    Treasurer

    

     

    

     

    TRUSTEE’S
      CERTIFICATE OF AUTHENTICATION

     

    This
      is
      one of the Securities of the series designated herein referred to in the
      within-mentioned Indenture.

     

    WELLS
      FARGO BANK, N.A.,

    as
      Trustee

    

    

    

    By:
            

    Authorized
      Signatory

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    This
      Security is one of a duly authorized issue of debt securities of the Company
      (herein called the “Securities”), issued and to be issued in one or more series
      under an Indenture, dated as of September 17, 2004 (herein called the
“Indenture”), between the Company and Wells Fargo Bank, N.A., as Trustee (herein
      called the “Trustee”, which term includes any successor trustee under the
      Indenture), to which Indenture and all indentures supplemental thereto reference
      is hereby made for a statement of the respective rights, limitation of rights,
      duties and immunities thereunder of the Company, the Trustee and the holders
      of
      the Securities and of the terms upon which the Securities are, and are to be,
      authenticated and delivered. This Security is a Global Security representing
      the
      entire principal amount of the series designated on the initial page hereof,
      initially limited in aggregate principal amount to $300,000,000, but subject
      to
      the right of the Company to issue and sell additional Securities in the future
      without the consent of the holders thereof. Any additional Securities of this
      series, together with this Security, shall constitute a single series under
      the
      Indenture.

     

    The
      Securities of this series are not subject to any sinking fund.

     

    The
      Securities of this series shall be redeemable, at the option of the Company,
      in
      whole at any time or in part from time to time, on at least 30 days but not
      more
      than 60 days’ prior notice mailed to the registered address of each holder of
      Securities to be so redeemed, at a redemption price equal to the greater of
      (i)
      100% of the principal amount of the Securities to be so redeemed and (ii) the
      sum of the present values of the remaining scheduled payments of principal
      of
      the Securities to be so redeemed and accrued and unpaid interest thereon
      (exclusive of interest accrued to the redemption date) discounted to the date
      of
      redemption, on a semi-annual basis (assuming a 360-day per year consisting
      of
      twelve 30-day months), at the Treasury Rate (as defined herein) plus 25 basis
      points plus, in either case, accrued and unpaid interest thereon to the date
      of
      redemption. For purposes of this paragraph, the following definitions shall
      apply:

     

    “Comparable
      Treasury Issue” means the United States Treasury security selected by the
      Quotation Agent as having an actual or interpolated maturity comparable to
      the
      remaining term of the Securities of this series to be redeemed that would be
      utilized, at the time of selection and in accordance with customary financial
      practice, in pricing new issues of corporate debt securities of comparable
      maturity to the remaining term of such Securities. 

     

    “Comparable
      Treasury Price” means, with respect to any redemption date, the average of the
      Reference Treasury Dealer Quotations for such redemption date. 

     

    “Quotation
      Agent” means one of the Reference Treasury Dealers appointed by the Company.

     

    “Reference
      Treasury Dealer” means each of Barclays Capital Inc. and Citigroup Global
      Markets Inc. and their respective successors; provided, however, that if either
      of the foregoing shall cease to be a primary U.S. Government securities dealer
      in New York City (a “Primary Treasury Dealer”), the Company shall substitute
      therefor another Primary Treasury Dealer.

     

    “Reference
      Treasury Dealer Quotations” means, with respect to each Reference Treasury
      Dealer and any redemption date, the average, as determined by the Trustee,
      of
      the bid and asked prices for the Comparable Treasury Issue (expressed in each
      case as a percentage of its principal amount) quoted in writing to the Trustee
      by such Reference Treasury Dealer at 3:30 p.m., New York City time, on the
      third
      Business Day preceding such redemption date.

     

    “Treasury
      Rate” means, with respect to any redemption date, the rate per annum equal to
      the semi-annual equivalent yield to maturity or interpolated yield (on a day
      count basis) of the Comparable Treasury Issue, calculated using a price for
      the
      Comparable Treasury Issue (expressed as a percentage of its principal amount)
      equal to the Comparable Treasury Price for such redemption date. The Treasury
      Rate shall be calculated on the third Business Day preceding such redemption
      date.

     

    The
      Indenture contains provisions for defeasance of the entire indebtedness of
      the
      Securities of this series upon compliance by the Company with certain conditions
      set forth therein.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    If
      an
      Event of Default with respect to the Securities of this series shall occur
      and
      be continuing, the principal of the Securities of this series may be declared
      due and payable in the manner and with the effect provided in the
      Indenture.

     

    The
      Indenture contains provisions permitting the Company and the Trustee, with
      the
      consent of the holders of not less than 662⁄3% in aggregate principal amount of
      the Securities at the time outstanding of all series to be affected (voting
      as
      one class), evidenced as in the Indenture provided, to execute supplemental
      indentures adding any provisions to or changing in any manner or eliminating
      any
      of the provisions of the Indenture or of any supplemental indenture or modifying
      in any manner the rights of the holders of the Securities of each such series;
      provided, however, that no such supplemental indenture shall (i) extend the
      fixed maturity of any Security, or reduce the principal amount thereof, or
      reduce the rate or extend the time of payment of any interest thereon, or reduce
      any amount payable on redemption thereof or impair or affect the right of any
      Securityholder to institute suit for payment thereof, without the consent of
      the
      holder of each Security so affected, or (ii) reduce the percentage of aggregate
      principal amount of Securities of any series or of all series (voting as one
      class), as the case may be, the holders of which are required to consent to
      any
      such supplemental indenture, without the consent of the holders of all
      outstanding Securities of each such series so affected.

     

    This
      Global Security shall be exchangeable for Securities of this series registered
      in the names of persons other than the Depositary for such Global Security
      or
      its nominee only as provided in this paragraph. This Global Security shall
      be so
      exchangeable if (x) the Depositary notifies the Company that it is unwilling
      or
      unable to continue as Depositary for this Global Security or if at any time
      such
      Depositary ceases to be a clearing agency registered as such under the
      Securities Exchange Act of 1934, and the Company fails to appoint a successor
      Depositary for this Global Security within 90 days after the Company receives
      such notice or becomes aware of such event, (y) the Company executes and
      delivers to the Trustee written instructions that this Global Security shall
      be
      so exchangeable or (z) there shall have occurred and be continuing an Event of
      Default or an event which, with the giving of notice or lapse of time, or both,
      would constitute an Event of Default with respect to the Securities of this
      series. Securities so issued in exchange for this Global Security shall be
      of
      the same series and of like tenor, in authorized denominations and in the
      aggregate having the same principal amount as this Global Security and
      registered in such names as the Depositary for such Global Security shall
      direct.

     

    As
      provided in the Indenture and subject to certain limitations therein set forth,
      the transfer of this Security is registrable in the Security register or
      registers of the Company, upon surrender of this Security for registration
      of
      transfer at the office or agency of the Company in any place where the principal
      of and interest on this Security are payable, duly endorsed by, or accompanied
      by a written instrument of transfer in form satisfactory to the Company and
      the
      Security registrar, duly executed by the registered holder hereof or its
      attorney duly authorized in writing, and thereupon on or more new Securities
      of
      this series, and of like tenor, of authorized denominations and for the same
      aggregate principal amount, will be issued to the designated transferee or
      transferees. At the date of the Indenture such agency of the Company is located
      at Wells Fargo Bank, N.A., 1445 Ross Ave., Dallas, Texas 75202.

     

    No
      service charge shall be made for any such exchange or registration of transfer,
      but the Company or the Securities registrar may require payment of a sum
      sufficient to cover any tax or other governmental charge payable in connection
      therewith.

     

    Prior
      to
      due presentment of this Security for registration of transfer, the Company,
      the
      Trustee and any agent of the Company or the Trustee may treat the person in
      whose name this Security is registered as the owner hereof for all purposes,
      whether or not this Security be overdue, and neither the Company, the Trustee
      nor any such agent shall be affected by notice to the contrary. All payments
      made to or upon the order of such registered holder shall, to the extent of
      the
      sum or sums paid, effectually satisfy and discharge liability for moneys payable
      on this Security.

     

    All
      terms
      used in this Security that are defined in the Indenture shall have the meanings
      assigned to them in the Indenture.

     

    The
      Indenture and the Securities shall be governed by and construed in accordance
      with the laws of the State of Texas.Exhibit 10.11 - Incentive Stock Option Agreement form

    
      

    

    Exhibit
      10.11

    Summary
      Information

    Employee:
      Name

    Location:
      xx

    Date
      of
      Grant: ___, 20__

    ESOP:
      19__

    Exercise
      Price: $x.xx/Share

    Expiration:
      earlier of xxx or 3 months post termination

    Total
      No.
      Shares subject to grant: xxx

    Vesting:
      xxx Shares vest on ____, 20__ 

    xxx
      Shares vest on ____, 20__

    Grant
      Type: NQSO

    

    NONSTATUTORY
      STOCK OPTION AGREEMENT

     

    This
      AGREEMENT is made and effective this x day of xxx, 20__ (the “Date of Grant”),
      between ICO, Inc., a Texas corporation (the “Company”), and Name (“Employee”),
      an employee of the Company or one of its subsidiaries.

     

    To
      carry
      out the purposes of ICO, Inc.’s 19XX STOCK OPTION PLAN, (the “Plan”), by
      affording Employee the opportunity to purchase shares of the common stock of
      the
      Company (“Shares”), and in consideration of the mutual agreements and other
      matters set forth herein and in the Plan, the Company and Employee hereby agree
      as follows:

     

    1. Grant
      of Option.
      The
      Company hereby irrevocably grants to Employee the right to purchase all or
      any
      part of an aggregate of xxx Shares (such right to purchase xxx Shares at the
      purchase price set forth in paragraph 2 below being referred to herein as this
      “Option”), on the terms and conditions set forth herein and in the Plan, as such
      Plan may be amended or supplemented from time to time, and which Plan is
      incorporated herein by reference as a part of this Agreement. This Option is
      not
      intended
      to constitute an incentive stock option (“ISO”), within the meaning of Section
      422(b) of the Internal Revenue Code of 1986, as amended (the
“Code”).

     

    2. Purchase
      Price.
      The
      purchase price of the Shares that may be purchased by Employee pursuant to
      the
      exercise of this Option shall be $xxx per Share, which has been determined
      to be
      not less than the fair market value of the Shares on the Date of Grant of this
      Option. For the purpose of this Agreement, the “fair market value” of the Shares
      shall be determined in accordance with the definition of “fair market value”
contained in the Plan.

     

    3. Exercise
      of Option.
      Subject
      to the earlier expiration of this Option as set forth below, this Option may
      be
      exercised in full or part, by written notice to the Company at its principal
      executive office addressed to the attention of its General Counsel, at any
      time
      and from time to time after the Date of Grant hereof, but, except as otherwise
      provided below, this Option shall not be exercisable for more than a percentage
      of the aggregate number of Shares offered by this Option determined by the
      number of full years from the Date of Grant to the date of such exercise, in
      accordance with the following vesting schedule:

     

    
      
         

      

      
        Page
          1 of
          3

        
          

        

      

      
         

      

    

     

    
      	
              Number
                of Full Years 

              Following
                the Date of Grant 

            	
              Percentage
                of Shares

              That
                May Be Purchased

               

            
	
              Less
                than 1 year (vest on Date of Grant)

            	
              xx%
                (xxx Shares)

            
	
              1
                year (vest on 1st
                anniversary of Date of Grant)

            	
              xx%
                (xxx Shares)

            
	
              2
                years (vest on 2nd
                anniversary of Date of Grant)

            	
              xx%
                (xxx Shares)

            
	
              (or
                include alternative language if not vesting on 1st

              or
                2nd
                anniversary of Date of Grant) 

            	
              xx%
                (xxx Shares)

            

    

    

     

    Furthermore,
      in order to exercise this Option or any portion thereof, Employee must be an
      employee of the Company or of a subsidiary of the Company at all times during
      the period beginning on the Date of Grant and ending on the day three months
      before the date of exercise. This Option shall not be exercisable in any event
      after the expiration of the earlier of: (a) ten (10) years from the Date of
      Grant hereof, or (b) the first business day following expiration of the three
      month period after the date when Employee ceases to be an employee of the
      Company or any subsidiary of the Company. Furthermore, any options that have
      not
      vested prior to the date of Employee’s termination of employment shall not be
      exercisable. The purchase price of shares as to which this Option is exercised
      shall be paid as provided under the provisions of the Plan.

     

    4. Withholding
      of Tax.
      To the
      extent that the exercise of this Option or the disposition of Shares acquired
      by
      exercise of this Option results in compensation income or wages to Employee
      for
      federal, state, or local tax purposes, Employee shall deliver to the Company
      at
      the time of such exercise or disposition such amount of money or Shares as
      the
      Company may require to meet its obligations under applicable tax laws or
      regulations, and, if Employee fails to do so, the Company is authorized to
      withhold from any cash or Share remuneration then or thereafter payable to
      Employee any tax required to be withheld by reason of such resulting
      compensation income. Upon an exercise of this Option, the Company is further
      authorized in its discretion to satisfy any such withholding requirements out
      of
      any cash or Shares distributable to Employee upon such exercise.

     

    5. Binding
      Effect.
      This
      Agreement shall be binding upon and inure to the benefit of any successors
      to
      the Company and all persons lawfully claiming under Employee. In the event
      of
      conflict between any of the provisions in this Agreement and provisions in
      the
      Plan, the provisions of the Plan will govern.

     

    6. Dispute
      Resolution.
      This
      Agreement and the Option granted hereunder, shall be governed by, and construed
      in accordance with the laws of the State of Texas, without regard to its
      principles of conflicts of law. Any and all controversies, claims and
      differences arising out of or relating to the Option granted under this
      Agreement which cannot be settled by good faith negotiation between the parties
      will be finally settled by binding arbitration brought within three (3) months
      of the termination of the Option, with the date of termination to be governed
      by
      the provisions of the Plan and this Agreement. The binding arbitration will
      be
      conducted in accordance with the then existing rules of the American Arbitration
      Association (“AAA”), by one arbitrator. In the event of any conflict between
      such rules and this paragraph, the provisions of this paragraph shall govern.
      Upon the written demand of either party, the parties shall appoint a single
      arbitrator acceptable to both parties. Arbitration proceedings shall be held
      in
      Houston,

     

    
      
         

      

      
        Page
          2 of
          3

        
          

        

      

      
         

      

    

    Texas.
      The decision of the arbitrator shall be final and binding upon the parties
      hereto, not subject to appeal, and shall deal with the questions of interest,
      cost of the arbitration, and all matters relevant thereto. Judgment upon the
      award or decision rendered by the arbitrator may be entered in any court having
      jurisdiction thereof, or application may be made to such court for a judicial
      recognition of the award or any order of enforcement thereof as the case may
      be.

     

    IN
      WITNESS WHEREOF,
      the
      Company has caused this Agreement to be duly executed by its officer thereunto
      duly authorized, and Employee has executed this Agreement, to be effective
      as of
      the Date of Grant set forth above.

     

    

     

    
      	 	
              ICO,
                INC.

            
	 	 	 
	 	
              By:

            	 
	 	 	 
	 	
              Printed
                Name:

            	 
	 	 	 
	 	
              Title:

            	 
	 	 	 
	 	 	 
	 	 	 
	 	
              EMPLOYEE

            
	 	 
	 	 
	 	 
	 	
              xxx

            

    

    

     

    

    Page
      3 of
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