Document:

Exhibit 10.4

 

2003 AMENDMENT TO THE

 

JETBLUE AIRWAYS
CORPORATION

 

401(k) RETIREMENT PLAN

 

 

THIS AMENDMENT adopted this 19th day of
November, 2003, by JETBLUE AIRWAYS CORPORATION (herein referred to as the
“Employer”).

 

W I T N E S S E T H:

 

WHEREAS, the Employer has heretofore
adopted a defined contribution pension benefit plan, effective as of
October 1, 1999, known as the JetBlue Airways Corporation 401(k)
Retirement Plan (herein referred to as the “Plan”); and

 

WHEREAS, the Plan was amended and restated in
its entirety pursuant to a plan document adopted on December 31, 2001;

 

WHEREAS, the Employer, pursuant to
Section 8.1 of the Plan relating to amendments thereto, hereby desires to
further amend the Plan.

 

NOW, THEREFORE, effective as of
January 1, 2003, except as otherwise provided herein, the Employer hereby
amends the Plan as follows:

 

I. The name of the Plan shall be the
“JetBlue Airways Retirement Plan.”

 

II. The second paragraph of
Section 1.8 of the Plan is amended by deleting subparagraph (a) thereof in
its entirety and replacing it with the following:

 

(a) excluding, for purposes of the
Employer’s discretionary profit sharing contributions pursuant to
Section 4.1(c), the following items: per diem allowances and other similar
types of expense reimbursements; the value of company-paid group term life
insurance; the value of other non-cash fringe benefits, such as incentive
passes and “positive space” travel benefits; moving allowances, relocation
adjustments and other similar payments and allowances; automobile expense
allowances and reimbursements; annual bonuses to officers and directors, but
not excluding cash incentive awards and other types of

 

 

cash bonuses to Crewmembers other than
officers and directors; signing bonuses and other similar payments received in
connection with becoming employed; “in lieu of” payments made to Highly
Compensated Employees affected by the provisions of Section 4.10(a)(1);
PTO payouts; any taxable compensation that may result from the grant or
exercise of stock-based compensation; any other type of deferred compensation;
severance pay and payments in the nature of severance benefits; non-taxable
sick pay, workers compensation payments and payments under short-term and
long-term disability plans; and payments under a pilots’ loss of license income
replacement plan.

 

III. The second paragraph of
Section 1.8 of the Plan is further amended by deleting subparagraph (b)
thereof in its entirety and replacing it with the following:

 

(b) excluding, for purposes of
salary reduction elections pursuant to Section 4.2 and Employer matching
contributions pursuant to Section 4.1(b), the following items: per diem
allowances and other similar types of expense reimbursements; the value of
company-paid group term life insurance; the value of other non-cash fringe
benefits, such as incentive passes and “positive space” travel benefits; moving
allowances, relocation adjustments and other similar payments and allowances;
automobile expense allowances and reimbursements; signing bonuses and other
similar payments received in connection with becoming employed; “in lieu of”
payments made to Highly Compensated Employees affected by the provisions of
Section 4.10(a)(1); any taxable compensation that may result from the
grant or exercise of stock-based compensation; any other type of deferred
compensation; severance pay and payments in the nature of severance benefits;
non-taxable sick pay; workers compensation payments and payments under any
long- term disability plan; and payments under a pilots’ loss of license income
replacement plan.

 

IV. Section 1.15 of the Plan is
amended by adding, at the end thereof, the following additional paragraph:

 

Interns, including student interns, shall
not be eligible to participate in this Plan.

 

V. Section 2.8 of the Plan is deleted
in its entirety and replaced by the following:

 

2.8 CLAIMS REVIEW PROCEDURE

 

Any Employee, former Employee, or
Beneficiary of either, who has been denied a benefit by a decision of the

 

 

Administrator pursuant to Section 2.7
shall be afforded a reasonable opportunity for a full and fair review of such
decision under a claims review procedure established by the Administrator. Such
claims review procedure shall comply with the requirements of Department of
Labor regulation 2560.503-1, as amended from time to time.

 

VI. Section 4.4(b)(3) of the Plan is
amended by adding, at the end of the second grammatical paragraph thereof, the
following additional sentence:

 

An Employee who is on an approved leave of
absence as of the last day of the Plan Year, including an unpaid leave of
absence, shall be deemed to be “actively employed” for purposes of the
foregoing requirement.

 

* * *

 

The Plan, as herein amended, is hereby
ratified, approved and confirmed as being in full force and effect as of the
date hereof.

 

* * *

 

IN WITNESS WHEREOF, the undersigned
Employer has executed this Amendment as of the day and year first above
written, to become effective January 1, 2003.

 

 

EMPLOYER:

 

JETBLUE
AIRWAYS CORPORATION

 

 

	
  By:

  	
    /s/
  VINCENT STABILE

  	
   

  
	
   

  
	
  Name:
  Vincent Stabile

  
	
   

  
	
  Title:
  V.P.–PeopleExhibit 10.5

 

First Amendment

to

Employment Agreement

 

This First Amendment to Employment Agreement (this “Amendment”) is
entered into effective as of July 21, 2004, between JetBlue Airways
Corporation, a Delaware corporation formerly known as New Air Corporation (the
“Company”) and David Neeleman (“Executive”).

 

Recitals

 

A.                                   Executive is the
Chief Executive Officer and Chairman of the Board of Directors of the Company.

 

B.                                     Executive became
an employee of the Company on August 24, 1998.  On November 23, 1998, Executive and the Company entered into
an Employment Agreement (the “Employment Agreement”), a copy of which is
attached hereto as Exhibit A.  
(Capitalized terms used in this Amendment without definition shall have
the meanings given to them in the Employment Agreement.)

 

C.                                     In the Employment
Agreement, the initial “Employment Term” is defined as the period ending on
December 1, 2003.

 

D.                                    The Employment
Agreement provides for automatic one-year renewals of the initial Employment
Term, unless either party delivers in advance a notice of non-renewal as
provided for in the Employment Agreement.

 

E.                                      No such notice
was delivered by either party; thus, the Employment Term has automatically been
extended to December 1, 2004.

 

F.                                      The parties now
desire to enter into this Amendment to further extend the Employment Term
through August 24, 2009.

 

 

Agreement

 

For valuable consideration, the parties agree that the Employment
Agreement is hereby amended as follows:

 

1.               The “Employment Term” described in
Section 3.1 of the Employment Agreement is hereby defined as that period
beginning on the original effective date of the Employment Agreement and ending
on August 24, 2009.

 

Except as specifically amended above, all other provisions of the
Employment Agreement shall remain in full force and effect

 

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

 

	
   

  	
  JetBlue Airways Corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ DAVID CHECKETTS

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ DAVID NEELEMAN

  	
   

  
	
   

  	
   David NeelemanExhibit 10.6

 

First Amendment

to

Employment Agreement

 

This First Amendment to Employment Agreement
(this “Amendment”) is entered into effective as of July 21, 2004, between
JetBlue Airways Corporation, a Delaware corporation formerly known as New Air
Corporation (the “Company”) and David Barger (“Executive”).

 

Recitals

 

A.                                   Executive
is the President and Chief Operating Officer of the Company.

 

B.                                     Executive
became an employee of the Company on August 24, 1998.  On October 14, 1998, Executive and the Company entered into an
Employment Agreement (the “Employment Agreement”), a copy of which is attached
hereto as Exhibit A.   (Capitalized
terms used in this Amendment without definition shall have the meanings given
to them in the Employment Agreement.)

 

C.                                     In
the Employment Agreement, the initial “Employment Term” is defined as the
period ending on December 1, 2003.

 

D.                                    The
Employment Agreement provides for automatic one-year renewals of the initial
Employment Term, unless either party delivers in advance a notice of
non-renewal as provided for in the Employment Agreement.

 

E.                                      No
such notice was delivered by either party; thus, the Employment Term has
automatically been extended to December 1, 2004.

 

F.                                      The
parties now desire to enter into this Amendment to further extend the
Employment Term through August 24, 2008, and to make certain other additions to
the Employment Agreement.

 

 

Agreement

 

For valuable consideration, the parties agree
that the Employment Agreement is hereby amended as follows:

 

1.                                       The
“Employment Term” described in Section 3.1 of the Employment Agreement is
hereby defined as that period beginning on the original effective date of the
Employment Agreement and ending on August 24, 2008.

 

2.                                       In
connection with the execution of this Amendment, the Company shall issue to
Executive a total of 90,000 stock options. 
These options shall be issued on September 1, 2004, which is the
Company’s next scheduled option issuance date. 
These options shall be issued in accordance with the terms and
conditions of the Company’s 2002 Stock Incentive Plan.  These options shall vest as follows: (a)
18,000 options shall vest on the date of issuance; and (b) an additional 18,000
options shall vest on each August 24th from 2005 through 2008.

 

Except as specifically amended
above, all other provisions of the Employment Agreement shall remain in full
force and effect

 

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

 

	
   

  	
  JetBlue
  Airways Corporation

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/
  DAVID CHECKETTS

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
    /s/DAVID
  BARGER

  	
   

  
	
   

  	
   

  	
  David Barger

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