Document:

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                                                                   EXHIBIT 10.10

                      FORM OF REGISTRATION RIGHTS AGREEMENT

                  REGISTRATION RIGHTS AGREEMENT, dated as of _______, ____ by
and among Travelocity.com Inc., a Delaware corporation (the "Company"),
Travelocity Holdings, Inc., a Delaware corporation ("Travelocity"), TSGL
Holding, Inc., a Delaware corporation ("TSGL Holding"), and Sabre Inc., a
Delaware corporation ("Sabre", and collectively with Travelocity and TSGL
Holding, the "Sabre Parties").

                  WHEREAS, pursuant to an Agreement and Plan of Merger, dated as
of ________, 1999 by and among Sabre, Travelocity, the Company and Preview
Travel, Inc., a Delaware corporation ("Preview"), providing for the merger of
Preview with and into the Company, Travelocity shall receive shares of Series A
Preferred Stock, $.001 par value, of the Company in such merger ("Series A
Preferred Stock");

                  WHEREAS, the Series A Preferred Stock issued to Travelocity is
convertible into Common Stock; and

                  WHEREAS, at the effective time of the Merger, the Company,
Travelocity, TSGL Holding, and Sabre will enter into an Amended and Restated
Agreement of Limited Partnership of Travelocity.com LP pursuant to which
Travelocity.com LP, a Delaware limited partnership ("Travelocity.com LP"), will
issue to the Sabre Parties limited partnership and general partnership units
which may be exchanged by the Sabre Parties for Common Stock.

                  NOW, THEREFORE, in consideration of the premises and of the
mutual covenants and obligations hereinafter set forth, the parties hereby agree
as follows:

                  1. Definitions. As used herein, unless the context otherwise
requires, the following terms have the following respective meanings:

                  "Certificate of Incorporation" means the Restated Certificate
of Incorporation of the Company, as it may be amended or restated hereafter from
time to time.

                  "Commission" means the Securities and Exchange Commission or
any other Federal agency at the time administering the Securities Act.

                  "Common Stock" means any shares of common stock, par value
$0.001 per share, of the Company, now or hereafter authorized to be issued, and
any and all securities of any kind whatsoever of the Company which may be issued
on or after the date hereof in respect of, in exchange for, or upon conversion
of shares of Common Stock pursuant to a merger, consolidation, stock split,
stock dividend, recapitalization of the

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Company or otherwise.

                  "Exchange Act" means the Securities Exchange Act of 1934, as
amended, or any similar Federal statute, and the rules and regulations of the
Commission thereunder, all as the same shall be in effect at the time. Reference
to a particular section of the Exchange Act shall include a reference to the
comparable section, if any, of any such similar Federal statute.

                  "Person" means a corporation, an association, a partnership,
an organization, a business, a trust, an individual, or any other entity or
organization, including a government or political subdivision or an
instrumentality or agency thereof.

                  "Registrable Securities" means (i) any shares of Common Stock
owned by any Sabre Party, irrespective of the date of acquisition, (ii) any
shares of Common Stock issued or issuable upon the conversion, exercise or
exchange of any shares of Series A Preferred Stock or Travelocity.com LP
partnership units held by any Sabre Party, and (iii) any shares of Common Stock
issued with respect to the Common Stock referred to in clauses (i), (ii) or
(iii) by way of a stock dividend, stock split or reverse stock split or in
connection with a combination of shares, recapitalization, merger, consolidation
or otherwise. As to any particular Registrable Securities, such securities shall
cease to be Registrable Securities (a) when a registration statement with
respect to the sale of such securities shall have become effective under the
Securities Act and such securities shall have been disposed of in accordance
with such registration statement, or (b) when such securities shall have been
sold (other than in a privately negotiated sale) pursuant to Rule 144 (or any
successor provision) under the Securities Act. Any certificate evidencing the
Registrable Securities shall bear a legend stating that the securities have not
been registered under the Securities Act and setting forth or referring to the
restrictions on transferability and sale of the securities.

                  "Registration Expenses" means all expenses incident to the
registration and disposition of the Registrable Securities pursuant to Section 2
hereof, including, without limitation, all registration, filing and applicable
national securities exchange fees, all fees and expenses of complying with state
securities or blue sky laws (including fees and disbursements of counsel to the
underwriters or the Sabre Parties in connection with "blue sky" qualification of
the Registrable Securities and determination of their eligibility for investment
under the laws of the various jurisdictions), all word processing, duplicating
and printing expenses, all expenses incurred in connection with any road show,
all messenger and delivery expenses, the fees and disbursements of counsel for
the Company and of its independent public accountants, including the expenses of
"cold comfort" letters or any special audits required by, or incident to, such
registration, all fees and disbursements of underwriters (other than
underwriting discounts and commissions), all transfer taxes, and all fees and
expenses of counsel to the Sabre Parties; provided, however, that Registration
Expenses shall exclude, and the Sabre Parties shall pay,

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underwriting discounts and commissions in respect of the Registrable Securities
being registered.

                  "Securities Act" means the Securities Act of 1933, as amended,
or any similar Federal statute, and the rules and regulations of the Commission
thereunder, all as the same shall be in effect at the time. References to a
particular section of the Securities Act shall include a reference to the
comparable section, if any, of any such similar Federal statute.

                  2. Registration Under Securities Act, etc.

                           2.1 Registration on Request.

                                    (a) Request. Each Sabre Party shall have the
right to require the Company to effect the registration under the Securities Act
of all or part of the Registrable Securities, by delivering a written request
therefor to the Company specifying the number of shares of Registrable
Securities and the intended method of distribution. The Company shall (i) use
its reasonable best efforts to effect the registration under the Securities Act
(including by means of a shelf registration pursuant to Rule 415 under the
Securities Act if so requested in such request and if the Company is then
eligible to use such a registration) of the Registrable Securities which the
Company has been so requested to register by one or more of the Sabre Parties,
for distribution in accordance with the intended method of distribution set
forth in the written request delivered by one or more of the Sabre Parties, such
registration to be effected as expeditiously as possible, and (ii) if requested
by one or more of the Sabre Parties, use its reasonable best efforts to obtain
acceleration of the effective date of the registration statement relating to
such registration.

                                    (b) Registration of Other Securities.
Whenever the Company shall effect a registration pursuant to this Section 2.1,
the Company may include other securities of the Company or which are held by
Persons who, by virtue of agreements with the Company, are entitled to include
their securities in any such registration. In the case of an underwritten
offering pursuant to Section 2.1, if holders of securities of the Company other
than Registrable Securities who are entitled, by contract with the Company, to
have securities included in such a registration (the "Other Stockholders")
request such inclusion, the Company shall offer to include the securities of
such Other Stockholders in the underwriting and may condition such offer on
their acceptance of the further applicable provisions of this Agreement. The
Company and the Other Stockholders shall enter into an underwriting agreement in
customary form with the representative of the underwriter or underwriters
selected pursuant to Section 2.1(f). Notwithstanding any other provision of this
Section 2, if the representative advises the Sabre Parties in writing that
marketing factors require a limitation on the number of shares to be
underwritten, the securities of the Company held by Other Stockholders shall

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be excluded from such registration to the extent so required by such limitation.

                                    (c) Registration Statement Form.
Registrations under this Section 2.1 shall be on such appropriate registration
form of the Commission as, subject to clause (a)(i) above, shall be selected by
the Company and as shall be reasonably acceptable to the Sabre Parties.

                                    (d) Expenses. The Sabre Parties shall pay
all Registration Expenses in connection with any registration requested pursuant
to this Section 2.1.

                                    (e) Effective Registration Statement. A
registration requested pursuant to this Section 2.1 shall not be deemed to have
been effected (i) unless a registration statement with respect thereto has
become effective and has been kept continuously effective for a period of at
least 180 days (or such shorter period which shall terminate when all the
Registrable Securities covered by such registration statement have been sold
pursuant thereto), (ii) if after it has become effective, such registration is
interfered with by any stop order, injunction or other order or requirement of
the Commission or other governmental agency or court for any reason not
attributable to any Sabre Party and has not thereafter become effective, or
(iii) if the conditions to closing specified in the underwriting agreement, if
any, entered into in connection with such registration are not satisfied or
waived.

                                    (f) Selection of Underwriters. The
underwriters of each underwritten offering of the Registrable Securities so to
be registered shall be selected by the Sabre Parties and shall be subject to the
approval of the Company, not to be unreasonably withheld or delayed.

                                    (g) Right to Withdraw. If the managing
underwriter of any underwritten offering shall advise the Sabre Parties that the
Registrable Securities covered by the registration statement cannot be sold in
such offering within a price range acceptable to the Sabre Parties, then the
Sabre Parties shall have the right to notify the Company in writing that they
have determined that the registration statement be abandoned or withdrawn, in
which event the Company shall abandon or withdraw such registration statement.

                                    (h) Limitations on Registration on Request.
The Sabre Parties shall be entitled to require the Company to effect, and the
Company shall be required to effect, an unlimited number of registrations
pursuant to this Section 2.1, provided, however, that the Company shall not be
required to effect more than one registration pursuant to this Section 2.1 in
any consecutive twelve month period.

                                    (i) Postponement. The Company shall be
entitled once in any six-month period to postpone for a reasonable period of
time (but not exceeding 90

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days) (the "Postponement Period") the filing of any registration statement
required to be prepared and filed by it pursuant to this Section 2.1 if the
Company determines, in its reasonable judgment, that such registration and
offering would materially interfere with any material financing, corporate
reorganization or other material transaction involving the Company or any
subsidiary, or would require premature disclosure thereof, and promptly gives
the Sabre Parties written notice of such determination, containing a general
statement of the reasons for such postponement and an approximation of the
anticipated delay. If the Company shall so postpone the filing of a registration
statement, (i) the Company shall use its reasonable best efforts to limit the
delay to as short a period as is practicable and (ii) the Sabre Parties shall
have the right to withdraw the request for registration by giving written notice
to the Company at any time.

                           2.2 Incidental Registration.

                                    (a) Right to Include Registrable Securities.
If the Company at any time proposes to register any of its securities under the
Securities Act by registration on Form S-1, S-2 or S-3 or any successor or
similar form(s) (except registrations on any such Form or similar form(s) solely
for registration of securities in connection with an employee benefit plan or
dividend reinvestment plan or a merger or consolidation), whether or not for
sale for its own account, it will each such time give prompt written notice to
the Sabre Parties of its intention to do so and of each Sabre Party's rights
under this Section 2.2. Upon the written request of the Sabre Parties (which
request shall specify the maximum number of Registrable Securities intended to
be disposed of by each Sabre Party), made as promptly as practicable and in any
event within 30 days after the receipt of any such notice (15 days if the
Company states in such written notice or gives telephonic notice to the Sabre
Parties, with written confirmation to follow promptly thereafter, stating that
(i) such registration will be on Form S-3 and (ii) such shorter period of time
is required because of a planned filing date), the Company shall use its
reasonable best efforts to include in such registration under the Securities Act
all Registrable Securities which the Company has been so requested to register
by the Sabre Parties. Notwithstanding anything to the contrary contained in this
Agreement, the Company may in its discretion withdraw any registration commenced
pursuant to this Section 2.2 without liability to the holders of Registrable
Securities. No registration effected under this Section 2.2 shall relieve the
Company of its obligation to effect any registration upon request under Section
2.1. The Company will pay all Registration Expenses in connection with any
registration of Registrable Securities requested pursuant to this Section 2.2.

                                    (b) Right to Withdraw. Each Sabre Party
shall have the right to withdraw its request for inclusion of its Registrable
Securities in any registration statement pursuant to this Section 2.2 at any
time prior to the execution of an underwriting agreement with respect thereto by
giving written notice to the Company of

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its request to withdraw.

                                    (c) Priority in Incidental Registrations. If
the managing underwriter of any underwritten offering shall inform the Company
by letter of its belief that the number of Registrable Securities requested to
be included in such registration, when added to the number of other securities
to be offered in such registration, would materially adversely affect such
offering, then the Company shall include in such registration, to the extent of
the number and type which the Company is so advised can be sold in (or during
the time of) such offering without so materially adversely affecting such
offering (the "Section 2.2 Sale Amount"), (i) all of the securities proposed by
the Company to be sold for its own account or by an Other Stockholder exercising
"demand" registration rights; and (ii) thereafter, to the extent the Section 2.2
Sale Amount is not exceeded, the Registrable Securities requested by the Sabre
Parties to be included in such registration pursuant to Section 2.2(a) and any
other securities of the Company requested to be included in such registration by
any Other Stockholder having the right to include securities on a pro rata
basis, with the amount of securities of the Sabre Parties and each such Other
Stockholder to be included based on the pro rata amount of shares of Common
Stock held, or obtainable by exercise, exchange or conversion of other
securities of the Company or of Travelocity.com LP, by the Sabre Parties or such
Other Stockholder.

                                    (d) Plan of Distribution. Any participation
by holders of Registrable Securities in a registration by the Company shall be
in accordance with the Company's plan of distribution.

                           2.3 Registration Procedures. If and whenever the
Company is required to use its reasonable best efforts to effect the
registration of any Registrable Securities under the Securities Act as provided
in Sections 2.1 and 2.2 hereof, the Company shall as expeditiously as possible:

                           (a) prepare and file with the Commission as soon as
                  practicable the requisite registration statement to effect
                  such registration (and shall include all financial statements
                  required by the Commission to be filed therewith) and
                  thereafter use its reasonable best efforts to cause such
                  registration statement to become effective; provided, however,
                  that before filing such registration statement (including all
                  exhibits) or any amendment or supplement thereto or comparable
                  statements under securities or blue sky laws of any
                  jurisdiction, the Company shall as promptly as practicable
                  furnish such documents to the Sabre Parties and each
                  underwriter, if any, participating in the offering of the
                  Registrable Securities and their respective counsel, which
                  documents will be subject to the reasonable review and
                  comments of the Sabre Parties, each underwriter and their
                  respective counsel; and provided, further, however, that the
                  Company may discontinue any registration of its securities
                  pursuant to Section 2.2 or

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                  which are not Registrable Securities at any time prior to the
                  effective date of the registration statement relating thereto;

                           (b) notify the Sabre Parties of the Commission's
                  requests for amending or supplementing the registration
                  statement and the prospectus, and prepare and file with the
                  Commission such amendments and supplements to such
                  registration statement and the prospectus used in connection
                  therewith as may be necessary to keep such registration
                  statement effective and to comply with the provisions of the
                  Securities Act with respect to the disposition of all
                  Registrable Securities covered by such registration statement
                  for such period as shall be required for the disposition of
                  all of such Registrable Securities in accordance with the
                  intended method of distribution thereof; provided, that except
                  with respect to any such registration statement filed pursuant
                  to Rule 415 under the Securities Act, such period need not
                  exceed 180 days;

                           (c) furnish, without charge, to the Sabre Parties and
                  each underwriter such number of conformed copies of such
                  registration statement and of each such amendment and
                  supplement thereto (in each case including all exhibits), such
                  number of copies of the prospectus contained in such
                  registration statement (including each preliminary prospectus
                  and any summary prospectus) and any other prospectus filed
                  under Rule 424 under the Securities Act, in conformity with
                  the requirements of the Securities Act, and such other
                  documents, as any Sabre Party and such underwriters may
                  reasonably request;

                           (d) use its reasonable best efforts (i) to register
                  or qualify all Registrable Securities and other securities
                  covered by such registration statement under such securities
                  or blue sky laws of such States of the United States of
                  America where an exemption is not available and as any Sabre
                  Party or any managing underwriter shall reasonably request,
                  (ii) to keep such registration or qualification in effect for
                  so long as such registration statement remains in effect, and
                  (iii) to take any other action which may be reasonably
                  necessary or advisable to enable the Sabre Parties to
                  consummate the disposition in such jurisdictions of the
                  securities to be sold by the Sabre Parties, except that the
                  Company shall not for any such purpose be required to qualify
                  generally to do business as a foreign corporation in any
                  jurisdiction wherein it would not but for the requirements of
                  this subsection (d) be obligated to be so qualified or to
                  consent to general service of process in any such
                  jurisdiction;

                           (e) furnish to the Sabre Parties and each
                  underwriter, if any, participating in the offering of the
                  securities covered by such registration

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                  statement, a signed counterpart of (i) an opinion of counsel
                  for the Company, and (ii) a "comfort" letter signed by the
                  independent public accountants who have certified the
                  Company's or any other entity's financial statements included
                  or incorporated by reference in such registration statement,
                  covering substantially the same matters with respect to such
                  registration statement (and the prospectus included therein)
                  and, in the case of the accountants' comfort letter, with
                  respect to events subsequent to the date of such financial
                  statements, as are customarily covered in opinions of issuer's
                  counsel and in accountants' comfort letters delivered to the
                  underwriters in underwritten public offerings of securities
                  (and dated the dates such opinions and comfort letters are
                  customarily dated) and, in the case of the legal opinion, such
                  other legal matters, and, in the case of the accountants'
                  comfort letter, such other financial matters, as the
                  underwriters, may reasonably request;

                           (f) promptly notify the Sabre Parties and each
                  managing underwriter, if any, participating in the offering of
                  the securities covered by such registration statement (i) when
                  such registration statement, any pre-effective amendment, the
                  prospectus or any prospectus supplement related thereto or
                  post-effective amendment to such registration statement has
                  been filed, and, with respect to such registration statement
                  or any post-effective amendment, when the same has become
                  effective; (ii) of any request by the Commission for
                  amendments or supplements to such registration statement or
                  the prospectus related thereto or for additional information;
                  (iii) of the issuance by the Commission of any stop order
                  suspending the effectiveness of such registration statement or
                  the initiation of any proceedings for that purpose; (iv) of
                  the receipt by the Company of any notification with respect to
                  the suspension of the qualification of any of the Registrable
                  Securities for sale under the securities or blue sky laws of
                  any jurisdiction or the initiation of any proceeding for such
                  purpose; (v) at any time when a prospectus relating thereto is
                  required to be delivered under the Securities Act, upon
                  discovery that, or upon the happening of any event as a result
                  of which, the prospectus included in such registration
                  statement, as then in effect, includes an untrue statement of
                  a material fact or omits to state any material fact required
                  to be stated therein or necessary to make the statements
                  therein not misleading, in the light of the circumstances
                  under which they were made, and in the case of this clause
                  (v), at the request of any Sabre Party promptly prepare and
                  furnish to the Sabre Parties and each managing underwriter, if
                  any, participating in the offering of the Registrable
                  Securities, a reasonable number of copies of a supplement to
                  or an amendment of such prospectus as may be necessary so
                  that, as thereafter delivered to the purchasers of such
                  securities, such prospectus shall not

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                  include an untrue statement of a material fact or omit to
                  state a material fact required to be stated therein or
                  necessary to make the statements therein not misleading in the
                  light of the circumstances under which they were made; and
                  (vi) at any time when the representations and warranties of
                  the Company contemplated by Section 2.4(a) or (b) hereof cease
                  to be true and correct;

                           (g) otherwise comply with all applicable rules and
                  regulations of the Commission, and make available to its
                  security holders, as soon as reasonably practicable, an
                  earnings statement covering the period of at least twelve
                  months beginning with the first full calendar month after the
                  effective date of such registration statement, which earnings
                  statement shall satisfy the provisions of Section 11(a) of the
                  Securities Act and Rule 158 promulgated thereunder, and
                  promptly furnish to the Sabre Parties a copy of any amendment
                  or supplement to such registration statement or prospectus;

                           (h) provide and cause to be maintained a transfer
                  agent and registrar (which, in each case, may be the Company)
                  for all Registrable Securities covered by such registration
                  statement from and after a date not later than the effective
                  date of such registration;

                           (i) (i) use its reasonable best efforts to cause all
                  Registrable Securities covered by such registration statement
                  to be listed on the principal securities exchange on which
                  similar securities issued by the Company are then listed (if
                  any), if the listing of such Registrable Securities is then
                  permitted under the rules of such exchange, or (ii) if no
                  similar securities are then so listed, use its reasonable best
                  efforts to (x) cause all such Registrable Securities to be
                  listed on a national securities exchange or (y) secure
                  designation of all such Registrable Securities as a NASDAQ
                  "national market system security" within the meaning of Rule
                  11Aa2-1 of the Commission or (z) failing that, to secure
                  NASDAQ authorization for such shares and, without limiting the
                  generality of the foregoing, to arrange for at least two
                  market makers to register as such with respect to such shares
                  with the National Association of Securities Dealers, Inc.;

                           (j) deliver promptly to counsel to the Sabre Parties
                  and each underwriter, if any, participating in the offering of
                  the Registrable Securities, copies of all correspondence
                  between the Commission and the Company, its counsel or
                  auditors;

                           (k) use its reasonable best efforts to obtain the
                  withdrawal of any order suspending the effectiveness of the
                  registration statement;

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                           (l) provide a CUSIP number for all Registrable
                  Securities, no later than the effective date of the
                  registration statement; and

                           (m) make available its employees and personnel and
                  otherwise provide reasonable assistance to the underwriters
                  (taking into account the needs of the Company's business) in
                  their marketing of Registrable Securities.

The Company may require each Sabre Party to furnish the Company such information
regarding such Sabre Party and the distribution of the Registrable Securities as
the Company may from time to time reasonably request in writing.

                  Each Sabre Party agrees that upon receipt of any notice from
the Company of the happening of any event of the kind described in paragraph (f)
(iii), (iv) or (v) of this Section 2.3, such Sabre Party will, to the extent
appropriate, discontinue its disposition of Registrable Securities pursuant to
the registration statement relating to such Registrable Securities until, in the
case of paragraph (f)(v) of this Section 2.3, its receipt of the copies of the
supplemented or amended prospectus contemplated by paragraph (f)(v) of this
Section 2.3 and, if so directed by the Company, will deliver to the Company (at
the Company's expense) all copies, other than permanent file copies, then in its
possession, of the prospectus relating to such Registrable Securities current at
the time of receipt of such notice. If the disposition by any Sabre Party of its
securities is discontinued pursuant to the foregoing sentence, the Company shall
extend the period of effectiveness of the registration statement required
pursuant to Section 2.1(e) by the number of days during the period from and
including the date of the giving of notice to and including the date when such
Sabre Party shall have received copies of the supplemented or amended prospectus
contemplated by paragraph (f)(v) of this Section 2.3.

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                           2.4 Underwritten Offerings.

                                    (a) Requested Underwritten Offerings. If
requested by the underwriters for any underwritten offering by any Sabre Party
pursuant to a registration requested under Section 2.1, the Company shall enter
into a customary underwriting agreement (in the form of underwriting agreement
used at such time by the managing underwriter(s)) with a managing underwriter or
underwriters selected pursuant to Section 2.1(f) which shall contain such terms
as are generally prevailing in agreements of the managing underwriter(s),
including, without limitation, their customary provisions relating to
indemnification and contribution (the "Customary Terms"). Each Sabre Party
participating in such offering shall be party to such underwriting agreement and
may, at its option, require that any or all of the representations and
warranties by, and the other agreements on the part of, the Company to and for
the benefit of such underwriters shall also be made to and for the benefit of
such Sabre Party and that any or all of the conditions precedent to the
obligations of such underwriters under such underwriting agreement be conditions
precedent to the obligations of such Sabre Party. No Sabre Party shall be
required to make any representations or warranties to or agreements with the
Company or the underwriters other than representations, warranties or agreements
regarding such Sabre Party, its ownership of and title to the Registrable
Securities, and its intended method of distribution and other representations
that constitute Customary Terms, and any liability of a Sabre Party to any
underwriter or other Person under such underwriting agreement shall be limited
to liability arising from breach of its representations and warranties and shall
be limited to an amount equal to the proceeds (net of expenses and underwriting
discounts and commissions) that it derives from such registration.

                                    (b) Incidental Underwritten Offerings. In
the case of a registration pursuant to Section 2.2 hereof, if the Company shall
have determined to enter into any underwriting agreements in connection
therewith, all of the Registrable Securities to be included in such registration
shall be subject to such underwriting agreements.

                           2.5 Preparation; Reasonable Investigation. In
connection with the preparation and filing of each registration statement under
the Securities Act pursuant to this Agreement, the Company will give each Sabre
Party, its underwriters, if any, and its respective counsel, accountants and
other representatives and agents the opportunity to participate in the
preparation of such registration statement, each prospectus included therein or
filed with the Commission, and each amendment thereof or supplement thereto, and
give each of them such reasonable access to its books and records and such
reasonable opportunities to discuss the business of the Company with its
officers and employees and the independent public accountants who have certified
its financial statements, and supply all other information reasonably requested
by each of them, as

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shall be necessary or appropriate, in the opinion of such Sabre Party and such
underwriters' respective counsel, to conduct a reasonable investigation within
the meaning of the Securities Act.

                           2.6 Indemnification.

                                    (a) Indemnification by the Company. The
Company agrees that in the event of any registration of any securities of the
Company under the Securities Act, the Company shall indemnify and hold harmless
each Sabre Party, its respective directors, officers, members, partners, agents
and affiliates and each other Person who participates as an underwriter in the
offering or sale of such securities and each other Person, if any, who controls
any Sabre Party or any such underwriter within the meaning of the Securities
Act, against any losses, claims, damages, or liabilities, joint or several, to
which such Sabre Party or any such director, officer, member, partner, agent or
affiliate or underwriter or controlling person may become subject under the
Securities Act or otherwise, insofar as such losses, claims, damages or
liabilities, joint or several (or actions or proceedings, whether commenced or
threatened, in respect thereof), arise out of or are based upon (i) any untrue
statement or alleged untrue statement of any material fact contained in any
registration statement under which such securities were registered under the
Securities Act, any preliminary prospectus, final prospectus or summary
prospectus contained therein, or any amendment or supplement thereto or (ii) any
omission or alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein in light of the
circumstances in which they were made not misleading, and the Company shall
reimburse each Sabre Party and each such director, officer, member, partner,
agent or affiliate, underwriter and controlling Person for any legal or any
other expenses reasonably incurred by them in connection with investigating or
defending any such loss, claim, liability, action or proceeding; provided that
the Company shall not be liable in any such case to any Sabre Party or any such
director, officer, member, partner, agent, affiliate, or controlling person to
the extent that any such loss, claim, damage, liability (or action or proceeding
in respect thereof) or expense arises out of or is based upon an untrue
statement or alleged untrue statement or omission or alleged omission made in
such registration statement, any such preliminary prospectus, final prospectus,
summary prospectus, amendment or supplement in reliance upon and in conformity
with written information furnished to the Company by or on behalf of such Sabre
Party, specifically stating that it is for use in the preparation thereof;
provided, however, that the foregoing indemnity agreement with respect to any
preliminary prospectus shall not inure to the benefit of any person from whom
the person asserting any such losses, claims, damages or liabilities (the
"Claimant") purchased securities, or any person controlling such person, if a
copy of the prospectus (as then amended or supplemented if the Company shall
have furnished any amendment or supplement thereto) was not sent or given by or
on behalf of such person to such Claimant, if required by law to have been so
delivered, at or prior to the written confirmation of the sale of the

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<PAGE>   13

securities sold to such Claimant, and if the prospectus (as so amended and
supplemented) would have cured the defect giving rise to such losses, claims,
damages or liabilities. Such indemnity shall remain in full force regardless of
any investigation made by or on behalf of any Sabre Party or any such director,
officer, member, partner, agent, affiliate, underwriter or controlling Person
and shall survive the transfer of such securities by the Sabre Parties.

                                    (b) Indemnification by the Sabre Parties. As
a condition to including any Registrable Securities in any registration
statement, each Sabre Party shall indemnify and hold harmless (in the same
manner and to the same extent as set forth in paragraph (a) of this Section 2.6)
the Company, and each director of the Company, each officer of the Company and
each other Person, if any, who controls the Company within the meaning of the
Securities Act, with respect to any statement or alleged statement in or
omission or alleged omission from such registration statement, any preliminary
prospectus, final prospectus or summary prospectus contained therein, or any
amendment or supplement thereto, but only to the extent such statement or
alleged statement or omission or alleged omission was made in reliance upon and
in conformity with written information furnished to the Company by or on behalf
of such Sabre Party specifically stating that it is for use in the preparation
of such registration statement, preliminary prospectus, final prospectus,
summary prospectus, amendment or supplement; provided, however, that the
liability of such indemnifying party under this Section 2.6(b) shall be limited
to the amount of proceeds (net of expenses and underwriting discounts and
commissions) received by such indemnifying party in the offering giving rise to
such liability. Such indemnity shall remain in full force and effect, regardless
of any investigation made by or on behalf of the Company or any such director,
officer or controlling Person and shall survive the transfer of such securities
by such Sabre Party.

                                    (c) Notices of Claims, etc. Promptly after
receipt by an indemnified party of notice of the commencement of any action or
proceeding involving a claim referred to in the preceding subsections of this
Section 2.6, such indemnified party shall, if a claim in respect thereof is to
be made against an indemnifying party, give written notice to the latter of the
commencement of such action or proceeding; provided, however, that the failure
of any indemnified party to give notice as provided herein shall not relieve the
indemnifying party of its obligations under the preceding subsections of this
Section 2.6, except to the extent that the indemnifying party is actually
prejudiced by such failure to give notice, and shall not relieve the
indemnifying party from any liability which it may have to the indemnified party
otherwise than under this Section 2.6. In case any such action or proceeding is
brought against an indemnified party, the indemnifying party shall be entitled
to participate therein and, unless in the opinion of outside counsel to the
indemnified party a conflict of interest between such indemnified and
indemnifying parties may exist in respect of such claim, to assume the defense
thereof, jointly with any other indemnifying party similarly notified to the
extent that it may wish, with counsel

                                     - 13 -
<PAGE>   14

reasonably satisfactory to such indemnified party; provided, however, that if
the defendants in any such action or proceeding include both the indemnified
party and the indemnifying party and if in the opinion of outside counsel to the
indemnified party there may be legal defenses available to such indemnified
party and/or other indemnified parties which are in conflict with or in addition
to those available to the indemnifying party, the indemnified party or parties
shall have the right to select separate counsel to defend such action or
proceeding on behalf of such indemnified party or parties, provided, however,
that the indemnifying party shall be obligated to pay for only one counsel and
one local counsel for all indemnified parties. After notice from the
indemnifying party to such indemnified party of its election so to assume the
defense thereof and approval by the indemnified party of such counsel, the
indemnifying party shall not be liable to such indemnified party for any legal
expenses subsequently incurred by the latter in connection with the defense
thereof (unless the first proviso in the preceding sentence shall be
applicable). No indemnifying party shall be liable for any settlement of any
action or proceeding effected without its written consent. No indemnifying party
shall, without the consent of the indemnified party, consent to entry of any
judgment or enter into any settlement which does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such indemnified party
of a release from all liability in respect to such claim or litigation.

                                    (d) Contribution. If the indemnification
provided for in this Section 2.6 shall for any reason be held by a court to be
unavailable to an indemnified party under subsection (a) or (b) hereof in
respect of any loss, claim, damage or liability, or any action in respect
thereof, then, in lieu of the amount paid or payable under subsection (a) or (b)
hereof, the indemnified party and the indemnifying party under subsection (a) or
(b) hereof shall contribute to the aggregate losses, claims, damages and
liabilities (including legal or other expenses reasonably incurred in connection
with investigating the same), (i) in such proportion as is appropriate to
reflect the relative fault of the indemnifying party on the one hand, and the
indemnified party on the other, which resulted in such loss, claim, damage or
liability, or action in respect thereof, with respect to the statements or
omissions which resulted in such loss, claim, damage or liability, or action in
respect thereof, as well as any other relevant equitable considerations, or (ii)
if the allocation provided by clause (i) above is not permitted by applicable
law, in such proportion as shall be appropriate to reflect not only the relative
fault but also the relative benefits received by the indemnifying party and the
indemnified party from the offering of the securities covered by such
registration statement as well as any other relevant equitable considerations.
The parties hereto agree that it would not be just and equitable if
contributions pursuant to this Section 2.6(d) were to be determined by pro rata
allocation or by any other method of allocation which does not take into account
the equitable considerations referred to in the preceding sentence of this
Section 2.6(d). No Person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any Person who was not guilty of

                                     - 14 -
<PAGE>   15

such fraudulent misrepresentation. In addition, no Person shall be obligated to
contribute hereunder any amounts in payment for any settlement of any action or
claim effected without such Person's consent, which consent shall not be
unreasonably withheld. Notwithstanding anything in this subsection (d) to the
contrary, no indemnifying party (other than the Company) shall be required to
contribute any amount in excess of the proceeds (net of expenses and
underwriting discounts and commissions) received by such party from the sale of
the Registrable Securities in the offering to which the losses, claims, damages
or liabilities of the indemnified parties relate.

                                    (e) Other Indemnification. Indemnification
and contribution similar to that specified in the preceding subsections of this
Section 2.6 (with appropriate modifications) shall be given by the Company and
each Sabre Party with respect to any required registration or other
qualification of securities under any federal, state or blue sky law or
regulation of any governmental authority other than the Securities Act. The
indemnification agreements contained in this Section 2.6 shall be in addition to
any other rights to indemnification or contribution which any indemnified party
may have pursuant to law or contract and shall remain operative and in full
force and effect regardless of any investigation made by or on behalf of any
indemnified party and shall survive the transfer of any of the Registrable
Securities by any Sabre Party.

                                    (f) Indemnification Payments. The
indemnification and contribution required by this Section 2.6 shall be made by
periodic payments of the amount thereof during the course of the investigation
or defense, as and when bills are received or expense, loss, damage or liability
is incurred.

                           2.7 Unlegended Certificates. In connection with the
offering of any Registrable Securities registered pursuant to this Section 2,
the Company shall promptly after the sale of such Registrable Securities (i)
facilitate the timely preparation and delivery to the Sabre Parties and the
underwriters, if any, participating in such offering, of unlegended certificates
representing ownership of such Registrable Securities being sold in such
denominations and registered in such names as requested by the Sabre Parties or
such underwriters and (ii) instruct any transfer agent and registrar of such
Registrable Securities to release any stop transfer orders with respect to any
such Registrable Securities.

                           2.8 Limitation on Sale of Securities. The Company
hereby agrees that if it shall previously have received a request for
registration pursuant to Section 2.1 hereof, and if such previous registration
shall not have been withdrawn or abandoned, (i) the Company shall not effect any
public or private offer, sale or distribution of its securities or effect any
registration of any of its equity securities under the Securities Act (other
than a registration on Form S-8 or any successor or similar form which is then
in effect), for sale for its own account, until a period of 120 days (or such
shorter period as the Company shall be advised by the managing underwriter)
shall have elapsed from the

                                     - 15 -
<PAGE>   16

effective date of such previous registration, and the Company shall so provide
in any registration rights agreements hereafter entered into with respect to any
of its securities; and (ii) the Company shall use its reasonable best efforts to
cause each holder of its equity securities purchased from the Company other than
as part of a public offering at any time after the date of this Agreement to
agree not to effect any public sale or distribution of any such securities
during such period, including a sale pursuant to Rule 144 under the Securities
Act.

                           2.9 No Required Sale. Nothing in this Agreement shall
e deemed to create an independent obligation on the part of any Sabre Party to
sell any Registrable Securities pursuant to any effective registration
statement.

                  3. Rule 144. The Company shall take all actions reasonably
necessary to enable holders of Registrable Securities to sell such securities
without registration under the Securities Act within the limitation of the
exemptions provided by (i) Rule 144, or (ii) any similar rule or regulation
hereafter adopted by the Commission including, without limiting the generality
of the foregoing, filing on a timely basis all reports required to be filed by
the Exchange Act. Upon the request of any Sabre Party, the Company will deliver
to such holder a written statement as to whether it has complied with such
requirements.

                           4. Amendments and Waivers. This Agreement may be
amended, modified or supplemented only by written agreement of the party against
whom enforcement of such amendment, modification or supplement is sought.

                           5. Adjustments. In the event of any change in the
capitalization of the Company as a result of any stock split, stock dividend,
reverse split, combination, recapitalization, merger, consolidation, or
otherwise, the provisions of this Agreement shall be appropriately adjusted.

                  6. Notice. All notices and other communications hereunder
shall be in writing and, unless otherwise provided herein, shall be deemed to
have been given when received by the party to whom such notice is to be given at
its address set forth below, or such other address for the party as shall be
specified by notice given pursuant hereto:

                (a)      If to any Sabre Party, to:

                                     - 16 -
<PAGE>   17

                         With a copy to:

                         Fried, Frank, Harris, Shriver & Jacobson
                         One New York Plaza
                         New York, New York  10004
                         Attention:    Charles M. Nathan

                (b)      If to the Company, to it at:

                         Attention:    General Counsel

                  7. Assignment; Third Party Beneficiaries; Majority Controls.
This Agreement shall be binding upon and inure to the benefit of and be
enforceable by the parties hereto and their respective successors and permitted
assigns. This Agreement may not be assigned by the Company, without the prior
written consent of the Sabre Parties. Any Sabre Party may, at its election, at
any time or from time to time, assign its rights under this Agreement, in whole
or in part, to any purchaser or other transferee of Registrable Securities held
by it. Any decision hereunder made by the holders of the majority of the
Registrable Securities shall be binding on all other holders of Registrable
Securities.

                  8. Remedies. The parties hereto agree that money damages or
other remedy at law would not be sufficient or adequate remedy for any breach or
violation of, or a default under, this Agreement by them and that, in addition
to all other remedies available to them, each of them shall be entitled to an
injunction restraining such breach, violation or default or threatened breach,
violation or default and to any other equitable relief, including without
limitation specific performance, without bond or other security being required.
In any action or proceeding brought to enforce any provision of this Agreement
(including the indemnification provisions thereof), the successful party shall
be entitled to recover reasonable attorneys' fees in addition to its costs and
expenses and any other available remedy.

                  9. No Inconsistent Agreements. The Company will not, on or
after the date of this Agreement, enter into any agreement with respect to its
securities which is inconsistent with the rights granted to the Sabre Parties in
this Agreement or otherwise conflicts with the provisions hereof.

                  10. Descriptive Headings. The descriptive headings of the
several sections and paragraphs of this Agreement are inserted for reference
only and shall not control or otherwise affect the meaning hereof.

                                     - 17 -
<PAGE>   18

                  11. Governing Law. This Agreement shall be construed and
enforced in accordance with, and the rights and obligations of the parties
hereto shall be governed by, the laws of the State of Delaware, without giving
effect to the conflicts of law principles thereof. Each of the parties hereto
hereby irrevocably and unconditionally consents to submit to the jurisdiction of
the courts of the State of Delaware and the United States of America located in
Delaware for any action or proceeding arising out of or relating to this
Agreement and the transactions contemplated hereby, and further agrees that
service of any process, summons, notice or document by U.S. registered mail to
its respective address set forth in Section 6 hereof shall be effective service
of process for any action or proceeding brought against it in any such court.
Each of the parties hereto hereby irrevocably and unconditionally waives any
objection to the laying of venue of any action or proceeding arising out of this
Agreement or the transactions contemplated hereby in the courts of the State of
Delaware or the United States of America located in Delaware, and hereby further
irrevocably and unconditionally waives and agrees not to plead or claim in any
such court that any such action or proceeding brought in any such court has been
brought in an inconvenient forum.

                  12. Counterparts. This Agreement may be executed in any number
of counterparts, each of which shall be deemed an original, but all such
counterparts shall together constitute one and the same instrument.

                  13. Invalidity of Provision. The invalidity or
unenforceability of any provision of this Agreement in any jurisdiction shall
not affect the validity or enforceability of the remainder of this Agreement in
that jurisdiction or the validity or enforceability of this Agreement, including
that provision, in any other jurisdiction. If any restriction or provision of
this Agreement is held unreasonable, unlawful or unenforceable in any respect,
such restriction or provision shall be interpreted, revised or applied in a
manner that renders it lawful and enforceable to the fullest extent possible
under law.

                  14. Further Assurances. Each party hereto shall do and perform
or cause to be done and performed all further acts and things and shall execute
and deliver all other agreements, certificates, instruments, and documents as
any other party hereto reasonably may request in order to carry out the intent
and accomplish the purposes of this Agreement and the consummation of the
transactions contemplated hereby.

                  15. Entire Agreement; Effectiveness. This Agreement
constitutes the entire agreement, and supersedes all prior agreements and
understandings, oral and written, between the parties hereto with respect to the
subject matter hereof.

                                     - 18 -
<PAGE>   19

                  IN WITNESS WHEREOF, the parties have caused this Agreement to
be executed and delivered by their respective officers thereunto duly
authorized.

                                        TRAVELOCITY.COM INC.

                                        By:
                                              ----------------------------------
                                              Name:
                                              Title:

                                        TRAVELOCITY HOLDINGS, INC.

                                        By:
                                              ----------------------------------
                                              Name:
                                              Title:

                                        TSGL HOLDING, INC.

                                        By:
                                              ----------------------------------
                                              Name:
                                              Title:

                                        SABRE INC.

                                        By:
                                              ----------------------------------
                                              Name:
                                              Title:

                                     - 19 -<PAGE>   1
                                                                   EXHIBIT 10.17

                           TRAVELOCITY HOLDINGS, INC.

                          1999 LONG-TERM INCENTIVE PLAN

1.       PURPOSE

         Travelocity Holdings, Inc. (hereinafter referred to as the "Company"),
a Delaware corporation, hereby establishes the 1999 Long-Term Incentive Plan
(the "Plan") to promote the interests of the Company and its stockholders
through attracting and retaining executive officers, nonemployee directors, and
employees essential to the success of the Company; and enabling employees,
nonemployee directors and consultants to share in the long-term growth and
success of the Company.

2.       DEFINITIONS.

         Unless otherwise specified or unless the context otherwise requires,
the following terms, as used in this Plan, have the following meanings:

Administrator means the Board of Directors, unless it has delegated power to act
on its behalf to a committee pursuant to Section 4 of the Plan.

Affiliate means any other entity approved by the Board of Directors in which the
Company holds an ownership interest (by value or voting rights) of at least 20%,
or any other entity approved by the Board of Directors which has an ownership
interest (by value or voting rights) of at least 20% in the Company.

Agreement means a written agreement implementing the grant of an Award, signed
by an authorized officer of the Employer or other person authorized by the
Administrator.

Awards means, individually or collectively, a grant under this Plan of any
Options or SARs.

Board of Directors means the Board of Directors of the Company.

Change in Control means the happening of any of the following:

(i)      An Acquiring Person (as hereinafter defined) shall be the "Beneficial
         Owner" (as defined in Rule 13d-3 under the Exchange Act, as amended
         from time to time), directly or indirectly, of voting securities of
         Travelocity entitled to vote for the election of directors at any
         annual or special meeting of stockholders of Travelocity (such
         entitlement, "Voting Power" and such securities, "Voting Securities")
         representing both (a) twenty-five percent (25%) or more of the Voting
         Power of Travelocity's then outstanding Voting Securities and (b) a
         percentage of the Voting Power of Travelocity's then outstanding Voting
         Securities which is equal to or greater than the percentage of the
         Voting Power as is represented by Voting Securities Beneficially Owned,
         directly or indirectly, by Sabre. An "Acquiring Person" shall mean any
         person other than (a) an employee benefit plan (or a trust forming a
         part thereof) maintained by (1) the Company, Travelocity.com LP (the
         "Partnership") or Travelocity or (2) any corporation or other Person of
         which a majority

                                       1
<PAGE>   2

         of its voting power or its voting equity securities or equity interest
         is Beneficially Owned, directly or indirectly, by Travelocity or the
         Partnership (a "Related Entity"), or the Company, (b) Travelocity, the
         Partnership or any Related Entity, (c) a Person who has acquired the
         Voting Securities in connection with a "Non-Control Transaction" (as
         hereinafter defined), but only to the extent such Voting Securities are
         acquired in connection with one or more Non-Control Transactions, (d)
         Sabre, and any corporation or other Person of which a majority of its
         voting power or its voting equity securities or equity interest is
         Beneficially Owned, directly or indirectly, by Sabre, unless at such
         time Sabre (together with any corporation or other Person (i) of which
         a majority of its voting power or its voting equity securities or
         equity interest is Beneficially Owned, directly or indirectly, by
         Sabre, or (ii) which Beneficially Owns, directly or indirectly, a
         majority of the voting power or voting equity securities or equity
         interest in Sabre), is the beneficial owner of 90% or more of the then
         outstanding Voting Securities of Travelocity, or (e) AMR Corporation,
         unless at such time AMR Corporation is not, or has not at all times
         been, the Beneficial Owner, directly or indirectly, of at least a
         majority of the voting power or voting equity securities or equity
         interest in Sabre;

(ii)     The individuals who, as of the effective date of the merger of Preview
         Travel, Inc. with and into Travelocity pursuant to the Merger
         Agreement, dated as of October 3, 1999, by and among Sabre, the
         Company, Travelocity, and Preview Travel, Inc. (the "Merger Effective
         Time") constitute the board of directors of Travelocity (the "Incumbent
         Board") cease for any reason to constitute at least a majority of the
         board of directors of Travelocity; provided, however, that any
         individual becoming a director subsequent to the Merger Effective Time
         whose election, or nomination for election by Travelocity's
         stockholders, was approved by a vote of at least a majority of the
         directors then comprising the Incumbent Board shall be considered as
         though such individual were a member of the Incumbent Board, but
         excluding for this purpose, any such individual whose initial
         assumption of office occurs as a result of an actual or threatened
         election contest with respect to the election or removal of directors
         or other actual or threatened solicitation of proxies or consents by or
         on behalf of a Person other than the board of directors of Travelocity;

(iii)    The Consummation of:

         (a) A merger, consolidation or similar reorganization of Travelocity or
in which securities of Travelocity are issued (a "Merger"), unless the Merger is
a "Non-Control Transaction." A "Non-Control Transaction" shall mean a Merger if:

                  (1) the stockholders of Travelocity immediately before such
Merger Beneficially Own, directly or indirectly, immediately following the
Merger at least fifty percent (50%) of the combined voting power of the
outstanding voting securities of (x) the corporation resulting from such Merger
(the "Surviving Corporation"), if fifty percent (50%) or more of the combined
voting power of the then outstanding voting securities of the Surviving
Corporation is not Beneficially Owned, directly or indirectly by another
corporation (a "Parent Corporation"), or (y) the Parent Corporation, if fifty
percent (50%) or more of the combined voting power of the Surviving
Corporation's then outstanding voting securities is Beneficially Owned, directly
or indirectly, by a Parent Corporation; and

                                       2
<PAGE>   3

                  (2) the individuals who were members of the board of directors
of Travelocity, immediately prior to the execution of the agreement providing
for the Merger, constitute at least a majority of the members of the board of
directors of, (x) the Surviving Corporation, if fifty percent (50%) or more of
the combined voting power of the then outstanding voting securities of the
Surviving Corporation is not Beneficially Owned, directly or indirectly by a
Parent Corporation, or (y) the Parent Corporation, if fifty percent (50%) or
more of the combined voting power of the Surviving Corporation's then
outstanding voting securities is Beneficially Owned, directly or indirectly, by
a Parent Corporation;

(iv)     The sale or other disposition of all or substantially all of the assets
         of Travelocity to any Person (other than a transfer to a Related Entity
         or under conditions that would constitute a Non-Control Transaction
         with the disposition of assets being regarded as a Merger for this
         purpose);

(v)      A "Change in Control" (as defined in the Amended and Restated 1996
         Long-Term Incentive Plan of Sabre Holdings Corporation, as amended from
         time to time) occurs unless at such time Sabre is not the Beneficial
         Owner of 50% or more of the outstanding voting Securities of
         Travelocity or the Partnership;

(vi)     A complete liquidation or dissolution of Travelocity; or

(vii)    Any other event to which, in the opinion of the Board, the provisions
         of clauses (i) through (vi) are not strictly applicable but, in the
         opinion of the Board, is within the intent and effect of such clauses.

Notwithstanding anything else contained herein to the contrary, in no event
shall a Change in Control be deemed to occur solely by reason of (1) a
distribution to Sabre's stockholders, whether as dividend or otherwise, of all
or any portion of the Voting Securities held, directly or indirectly, by Sabre
(including, without limitation, a distribution to Sabre's stockholders of
securities of the Company), or (2) a sale of all or any portion of the Voting
Securities held, directly or indirectly, by Sabre in an underwritten public
offering (including, without limitation, a sale of securities of the Company in
an underwritten public offering), or (3) any Person (the "Subject Person")
acquiring Beneficial Ownership of more than the permitted amount of the then
outstanding Voting Securities as a result of the acquisition of Voting
Securities by Travelocity which, by reducing the number of Voting Securities
then outstanding, increases the proportional number of shares Beneficially Owned
by the Subject Person, provided that if a Change in Control would occur (but for
the operation of this sentence) as a result of the acquisition of Voting
Securities by Travelocity, and after such share acquisition by Travelocity, the
Subject Person becomes the Beneficial Owner of any additional Voting Securities
which increases the percentage of the then outstanding Voting Securities
Beneficially Owned by the Subject Person, then a Change in Control shall occur.

Code means the United States Internal Revenue Code of 1986, as amended.

                                       3
<PAGE>   4

Committee means the Committee to which the Board of Directors has delegated
power to act under or pursuant to the provisions of the Plan.

Common Stock means shares of the common stock of Travelocity.com Inc., a
Delaware corporation, par value $.001.

Company means Travelocity Holdings, Inc., a Delaware corporation.

Covered Participant means a participant who is a "covered employee" as
identified in Section 162(m)(3) of the Code.

Disability or Disabled means permanent and total disability as defined in
Section 22(e)(3) of the Code.

Effective Date means October 1, 1999, the effective date of the Plan.

Employer means the Company and each Affiliate that has adopted the Plan with the
Company's permission.

Eligible Employee means an employee of an Employer (including, without
limitation, an employee who is also serving as an officer or director of an
Employer), designated by the Administrator to be eligible to be granted one or
more Awards under the Plan.

Exchange Act means the Securities Exchange Act of 1934, as amended.

Exercise Price means the exercise price per share determined on the grant date
by the Committee.

Fair Market Value of a Share of Common Stock means:

         (1)      If the Common Stock is listed on a national securities
                  exchange or traded in the over-the-counter market and sales
                  prices are regularly reported for the Common Stock, either (a)
                  the average of the high and low prices of the Common Stock on
                  the Composite Tape or other comparable reporting system for
                  the applicable date or (b) if the Common Stock is not traded
                  on the relevant date, the average of the high and low prices
                  of the Common Stock on the Composite Tape or other comparable
                  reporting system for the most recent day on which the Common
                  Stock was traded immediately preceding the applicable date.

         (2)      If the Common Stock is not traded on a national securities
                  exchange but is traded on the over-the-counter market, if
                  sales prices are not regularly reported for the Common Stock
                  for the trading days or day referred to in clause (1), and if
                  bid and asked prices for the Common Stock are regularly
                  reported, either (a) the average of the bid and the asked
                  price for the Common Stock at the close of trading in the
                  over-the-counter market for applicable date or (b) the average
                  of the bid and the asked price for the Common Stock at the
                  close of trading in the over-the-counter market for the
                  trading day on which Common Stock was traded immediately
                  preceding the applicable date, as the Administrator shall
                  determine in its sole discretion; and

                                       4
<PAGE>   5

         (3)      If the Common Stock is neither listed on a national securities
                  exchange nor traded in the over-the-counter market, such value
                  as the Administrator, in good faith, shall determine.

Incentive Stock Option means an option that is intended to qualify as an
incentive stock option under Code Section 422.

Non-Qualified Option means an option that is not intended to qualify as an
Incentive Stock Option.

Option means a Non-Qualified Option or an Incentive Stock Option granted under
the Plan.

Participant means an Eligible Employee, director, or consultant of an Employer
to whom one or more Awards are granted under the Plan. As used herein,
"Participant" shall include "Participant's Survivors" where the context
requires.

Participant's Survivors means a deceased Participant's legal representatives
and/or any person or persons who acquired the Participant's rights to an Award
by will or by the laws of descent and distribution.

Partnership LTIP means the Travelocity.com LP 1999 Long-Term Incentive Plan, as
it may be amended from time to time.

Plan means the Travelocity Holdings, Inc. 1999 Long-Term Incentive Plan, as it
may be amended from time to time.

SAR means ________________________________________.

Sabre means Sabre Holdings Corporation, a Delaware corporation.

Securities Act means the Securities Act of 1933, as amended.

Shares means shares of the Common Stock as to which Awards have been or may be
granted under the Plan or any shares of capital stock into which the Shares are
changed or for which they are exchanged within the provisions of Section 12 of
the Plan. The Shares issued upon exercise of Options granted under the Plan may
be authorized and unissued shares, Treasury shares, shares transferred from an
Affiliate, or shares purchased on the open market.

Travelocity means Travelocity.com Inc., a Delaware corporation.

3.       SHARES SUBJECT TO THE PLAN.

         General. The number of Shares that may be transferred in satisfaction
of Awards granted under this Plan shall be four million five hundred thousand
(4,500,000), which number of Shares shall be increased on January 1, 2001 and on
each of the four (4) succeeding January 1, ending on January 1, 2005, by a
number of Shares equal to 2.5% of the total number of Shares of

                                       5
<PAGE>   6

Common Stock outstanding as of such date. Such number includes Options which may
be originally granted under this Plan, as well as Options granted under this
Plan in respect to Options of another entity which are assumed by this Plan.
Notwithstanding the foregoing, under no circumstances shall the number of shares
available for transfer under the Plan and the Partnership LTIP exceed 7,000,000
plus the number of shares available for transfer by which the Plan and the
Partnership LTIP are increased pursuant to the terms of each such plan.

         Lapsed Awards and Share Withholding. If any Option granted under the
Plan shall be cancelled, forfeited, lapse, expire or terminate for any reason
without having been exercised in full or shall cease for any reason to be
exercisable in whole or in part, or is settled in cash in lieu of Common Stock,
the Shares subject to such Award shall thereafter again be available for grant
of an Award under the Plan. Shares deemed to have been used to pay the exercise
price or tax withholding due with respect to an Option, through share
withholding or other cashless exercise method, shall thereafter again be
available for issuance under the Plan. In addition, in the event a Participant
pays for any Option through the delivery of previously owned Shares, the number
of Shares available for issuance under the Plan shall be increased by the number
of Shares surrendered by the Participant. However, notwithstanding the above,
with respect to any Covered Participants, cancelled Shares shall continue to be
counted against the maximum aggregate number of Shares that may be granted
pursuant to Awards.

4.       ADMINISTRATION OF THE PLAN.

         The Committee. Upon appointment of the Committee, the Plan shall be
administered and interpreted by the Committee which shall have full authority
and all powers necessary or desirable for such administration. The express grant
in this Plan of any specific power to the Committee shall not be construed as
limiting any power or authority of the Committee. In its sole and complete
discretion the Committee may adopt, alter, suspend and repeal such
administrative rules, regulations, guidelines, and practices governing the
operation of the Plan as it shall from time to time deem advisable. In addition
to any other powers and subject to the provisions of the Plan, the Committee
shall have the following specific powers: (i) to determine the terms and
conditions upon which the Awards may be made and exercised; (ii) to determine
all terms and provisions of each Agreement, which need not be identical for all
types of Awards nor for the same type of Award to different participants; (iii)
to construe and interpret the Agreements and the Plan; (iv) to establish, amend,
or waive rules or regulations for the Plan's administration; (v) to accelerate
the exercisability of any Award; (vi) to provide for the grant of Awards upon
the assumption of, or in substitution for, similar awards granted by an acquired
or other company with which the Employer or Travelocity participates in an
acquisition, separation, or similar corporate transaction; and (vii) to make all
other determinations and take all other actions necessary or advisable for the
administration of the Plan. The Committee may take action by majority vote or by
unanimous written consent. The Committee may seek the assistance or advice of
any persons it deems necessary to the proper administration of the Plan.

         Selection of Participants. The Administrator shall have sole and
complete discretion in determining those persons who shall be Participants in
the Plan, provided that such participants must be Eligible Employees, directors
or consultants of an Employer at the time an Option is granted. The Committee
may delegate to the one or more executive officers of the Company the

                                       6
<PAGE>   7

authority to make Awards to Participants who are not executive officers of the
Travelocity (as designated by the Company or otherwise covered as such under
Rule 16b-3 of the Exchange Act) or Covered Participants, subject to a fixed
maximum Award amount for such a group and a maximum Award amount for any one
Participant, as determined by the Committee. Awards made to the executive
officers or Covered Participants shall be determined by the Committee.

         Committee Decisions. All determinations and decisions made by the
Committee pursuant to the provisions of the Plan shall be final, conclusive, and
binding upon all persons, including the Employer, its stockholders, employees,
Participants, and designated beneficiaries, except when the terms of any sale or
award of shares of Common Stock or any grant of rights or Options under the Plan
are required by law or by the Certificate of Incorporation or Bylaws of the
Travelocity to be approved by Travelocity's Board of Directors or stockholders
prior to any such sale, award or grant.

         Rule 16b-3 and Code Section 162(m) Requirements. Notwithstanding any
other provision of the Plan, the Committee may impose such conditions on any
Award (including approval of any Award by the Board of Directors or Compensation
Committee of Sabre and/or Travelocity), and the Board may amend the Plan in any
such respects, as may be required to satisfy the requirements of Rule 16b-3 or
Code Section 162(m).

         Indemnification of Committee. In addition to such other rights of
indemnification as they may have as directors or as members of the Committee,
the members of the Committee shall be indemnified by the Employer against
reasonable expenses incurred from their administration of the Plan, including
without limitation related attorneys' fees actually and reasonably incurred in
connection with the defense of any action, suit or proceeding, or in connection
with any appeal therein, and against all reasonable amounts paid by them in
settlement thereof or paid by them in satisfaction of a judgment in any such
action, suit or proceeding, if such members acted in good faith and in a manner
which they believed to be in, and not opposed to, the best interests of the
Employer and its Affiliates.

5.       TERMS AND CONDITIONS OF OPTIONS.

         Each Option shall be set forth in writing in an Agreement, duly
executed by the Company and, subject to such conditions as the Administrator may
deem appropriate, including, without limitation, subsequent approval by the
Compensation Committee or Board of Directors of Travelocity and/or Sabre. The
Agreements shall be subject to at least the following terms and conditions:

A.       Each Option shall be subject to the terms and conditions which the
         Administrator determines to be appropriate and in the best interest of
         the Company, subject to the following minimum standards for any Option:

         a.       Exercise Price: The Exercise Price (per share) of the Shares
                  covered by each Option shall be determined by the
                  Administrator but shall not be less than the Fair Market Value
                  per share of Common Stock on the date such Option is granted;
                  provided, however, that the Committee in its sole discretion
                  may grant Options

                                       7
<PAGE>   8

                  with an exercise price less than the Fair Market Value of the
                  stock on the date of grant to Employees hired as a result of
                  an acquisition or other business combination, or employees
                  transferred from another affiliate of the Company or
                  Travelocity, in respect of options converted and assumed by
                  the Plan under Section 5.B. Notwithstanding the foregoing, in
                  no event may any Option bear an exercise price less than the
                  par value of the underlying Shares;

         b.       Each Agreement shall state the number of Shares to which it
                  pertains;

         c.       Each Agreement shall state the date or dates on which it first
                  is exercisable and the date after which it may no longer be
                  exercised (which shall not be later than ten years following
                  the date granted), and may provide that the Option rights
                  accrue or become exercisable in installments over a period of
                  months or years, or upon the occurrence of certain conditions
                  or the attainment of stated goals or events; and

         d.       Exercise of any Option may be conditioned upon the
                  Participant's execution of a Share purchase agreement in form
                  satisfactory to the Administrator.

B.       Conversion Options. The Committee, in its discretion, may issue Options
         under this Plan in consideration of options to purchase shares of
         common stock in another entity, which options shall be assumed by this
         Plan, and such Options shall contain those terms and conditions which
         the Committee, in its sole discretion, shall deem appropriate, which
         may be new terms, or which may incorporate the terms of the option from
         which they were converted (including ISO status for 90 days following
         termination of employment with the entity in respect of whose stock
         such prior options were issued). In particular, but not by way of
         limitation, with respect to any individual who previously was employed
         by Sabre (or an affiliate thereof) or Preview Travel, Inc., a Delaware
         corporation, and who subsequently becomes employed by the Employer, the
         Committee in its discretion may allow any options to purchase stock of
         Sabre or Preview Travel, Inc. held by such individual to be converted
         into Options hereunder, and for such Options hereunder to bear the same
         terms as the options from which they were converted, subject to
         appropriate adjustments, as determined by the Committee in its sole
         discretion, to the exercise price and number of shares subject to such
         Options.

C.       Limitations: No Participant shall be granted Options in any calendar
         year in excess of 1,000,000 Shares.

6.       EXERCISE OF OPTION AND ISSUE OF SHARES.

         An Option (or any part or installment thereof) shall be exercised by
giving written notice to the Company at its principal office address, together
with provision for payment of the full purchase price in accordance with this
paragraph for the Shares as to which such Option is being exercised, and upon
compliance with any other condition(s) set forth in the Agreement relating to
such Options. Such written notice shall be signed by the person exercising the
Option, shall state

                                       8
<PAGE>   9

the number of Shares with respect to which the Option is being exercised and
shall contain any representation required by the Plan or the Agreement. Payment
of the purchase price for the Shares as to which such Option is being exercised
shall be made (a) in United States dollars in cash or by check, or (b) through
delivery of shares of Common Stock (not subject to any security agreement or
pledge) having a Fair Market Value equal as of the date of the exercise to the
cash exercise price of the Option, or (c) in accordance with a cashless exercise
program established with a securities brokerage firm and approved by the
Administrator, or (d) through such other method of payment (such as share
withholding) approved by the Administrator, or (e) by any combination of (a),
(b), (c), and (d) above; provided, however, that options (b), (c), (d), or (e)
may only be utilized (i) to the extent permitted by applicable law and not in
violation of any instrument or agreement to which the Employer or Travelocity is
a party, and (ii) unless otherwise stated in the Agreement, only to the extent
specifically determined by the Administrator in its sole discretion at the time
of exercise. The Committee reserves the right to require any Shares delivered by
the Participant in full or partial payment of the Exercise Price to be limited
to those Shares already owned by the Participant for at least six (6) months.

         The Company shall then reasonably promptly deliver the Shares as to
which such Option was exercised to the Participant (or to the Participant's
Survivors or Permitted Transferee, as the case may be). In determining what
constitutes "reasonably promptly," it is expressly understood that the delivery
of the Shares may be delayed by the Company in order to comply with any law or
regulation which requires the Company or Travelocity to take any action with
respect to the Shares prior to their issuance. The Shares shall, upon delivery,
be evidenced by an appropriate certificate or certificates for fully paid,
non-assessable Shares.

         The Administrator may, in its discretion, amend any term or condition
of an outstanding Option provided (i) such term or condition as amended is
permitted by the Plan, (ii) any such amendment shall be made only with the
consent of the Participant to whom the Option was granted, or in the event of
the death of the Participant, the Participant's Survivors, if the amendment is
materially adverse to the Participant.

7.       RIGHTS AS A SHAREHOLDER

         No Participant to whom an Option has been granted shall have rights as
a shareholder with respect to any Shares covered by such Option, except after
due exercise of the Option, tender of the full purchase price for the Shares
being purchased pursuant to such exercise, satisfaction of such other conditions
for the transfer of Shares pursuant to the Option, and registration of the
Shares in the Company's share register in the name of the Participant.

8.       ASSIGNABILITY AND TRANSFERABILITY OF OPTIONS.

         Unless otherwise provided in the Option Agreement, an Option granted to
a Participant shall not be transferable by the Participant other than by will or
by the laws of descent and distribution; provided, however, that the designation
of a beneficiary of an Option by a Participant shall not be deemed a transfer
prohibited by this Section 8. Notwithstanding the foregoing, transfers of
Options may be made with the prior approval of the Committee and on such terms
and conditions as the Committee in its sole discretion shall approve, to (a) in
the case

                                       9
<PAGE>   10

of a transfer without the payment of any consideration, any "family member" as
such term is defined in Section 1(a)(5) of the General Instructions to Form S-8
under the Securities Act as in effect on the Effective Date, (b) to any person
or entity described in clause (ii) of Section 1(a)(5) of the General
Instructions to Form S-8 under the Securities Act as in effect on the Effective
Date, and (iii) upon a Participant's death, Participant's executors,
administrators, testamentary trustees, legatees and beneficiaries. Any attempted
transfer, assignment, pledge, hypothecation, or other disposition of any Option
or of any rights granted thereunder contrary to the provisions of this Plan, or
the levy of any attachment or similar process upon an Option, shall be null and
void.

9.       EFFECT OF TERMINATION OF SERVICE OTHER THAN "FOR CAUSE."

         Except as otherwise provided in an Agreement or as determined by the
Administrator at or after grant, in the event of a termination of service
(whether as an employee, director, or consultant) with the Employer or
Travelocity before the Participant has exercised all Options, the following
rules apply:

A.       All unvested Options shall immediately terminate.

B.       A Participant who ceases to be an employee, director, or consultant of
         the Employer or of Travelocity for any reason other than termination
         for cause, Disability, or death may continue to exercise an Option to
         the extent that the Option is otherwise vested and exercisable on the
         date of such termination of service, for a period of three (3) months
         following such termination (or, if less, the remaining term of the
         Option).

C.       If any employee Participant terminates employment by reason of death,
         Disability or retirement (as defined in the Employer's general policy
         regarding retirement), or any director Participant has attained age 65
         or accumulated 5 years of service with the Employer (counting service
         with AMR Corporation, Sabre, or Preview Travel, Inc.) as of his or her
         termination date, then such Participant may exercise any Option (to the
         extent that it is otherwise vested and exercisable as of his
         termination of service) at any time during the one (1) year period
         following his termination of service (or, if less, for the remaining
         term of the Option).

D.       In the case of a Participant's Disability or death within three (3)
         months after the termination of employment, director status, or
         consultancy (for any reason other than Participant's death, Disability
         or for cause), the Participant may exercise the Option (to the extent
         otherwise vested and exercisable) within one (1) year after the date of
         the Participant's Disability or death, but in no event after the date
         of expiration of the term of the Option.

E.       The Administrator shall make the determination both as to whether
         Disability has occurred and the date of its occurrence (unless a
         procedure for such determination is set forth in another agreement
         between the Employer and such Participant, in which case such procedure
         shall be used for such determination). If requested, the Participant
         shall be examined by a physician selected or approved by the
         Administrator, the cost of which examination shall be paid for by the
         Employer.

                                       10
<PAGE>   11

F.       Notwithstanding anything herein to the contrary, if subsequent to a
         Participant's termination of employment, termination of director
         status, or termination of consultancy, the Board of Directors
         determines that, either prior or subsequent to the Participant's
         termination, the Participant engaged in conduct which would constitute
         "cause", then such Participant shall forthwith cease to have any right
         to exercise any Option.

G.       A Participant to whom an Option has been granted under the Plan who is
         on an approved leave of absence for any purpose, shall not, during the
         period of any such absence, be deemed, by virtue of such absence alone,
         to have terminated such Participant's employment, director status, or
         consultancy with the Company or with an Affiliate, except as the
         Administrator may otherwise expressly provide. An approved leave of
         absence shall mean sick leave, military leave or any other leave of
         absence approved by the Administrator; provided that such leave is for
         a period of not more than 90 days or reemployments upon the expiration
         of such leave is guaranteed by contract or statute.

H.       For purposes of this Section 9, a termination of employment shall not
         be deemed to occur upon the transfer of a Participant to an Affiliate,
         provided such Participant's continued participation in the Plan is
         specifically approved by the Board of Directors or the Committee.

10.      EFFECT OF TERMINATION OF SERVICE "FOR CAUSE."

         Except as otherwise provided in an Option Agreement, the following
rules apply if the Participant's service (whether as an employee, director, or
consultant) with the Employer is terminated "for cause":

A.       All outstanding and unexercised Options as of the date the Participant
         is notified that his or her service is terminated "for cause", whether
         vested or unvested, will immediately be forfeited.

B.       For purposes of this Paragraph, "cause" shall include (and is not
         limited to) dishonesty with respect to the employer, insubordination,
         substantial malfeasance or non-feasance of duty, unauthorized
         disclosure of confidential information, and conduct substantially
         prejudicial to the business of the Company or any Affiliate. The
         determination of the Administrator as to the existence of cause will be
         conclusive on the Participant and the Employer.

C.       "Cause" is not limited to events which have occurred prior to a
         Participant's termination of service, nor is it necessary that the
         Administrator's finding of "cause" occur prior to termination. If the
         Administrator determines, subsequent to a Participant's termination of
         service but prior to the exercise of an Option, that either prior or
         subsequent to the Participant's termination the Participant engaged in
         conduct which would constitute "cause," then the right to exercise any
         Option is forfeited.

D.       Any definition in an agreement between the Participant and the Company
         or an Affiliate,

                                       11
<PAGE>   12

         which contains a conflicting definition of "cause" for termination and
         which is in effect at the time of such termination, shall supersede the
         definition in this Plan with respect to such Participant.

11.      DISSOLUTION OR LIQUIDATION OF THE COMPANY.

         In the event of the proposed dissolution or liquidation of the Company
or Travelocity, all outstanding Options will terminate immediately prior to the
consummation of such proposed action, unless otherwise provided by the
Administrator; provided, however, that if the rights of a Participant, Permitted
Transferee, or a Participant's Survivors have not otherwise terminated and
expired, the Participant, Permitted Transferee, or the Participant's Survivors
will have the right immediately prior to such dissolution or liquidation to
exercise any Option to the extent that the Option is otherwise exercisable as of
the date immediately prior to such dissolution or liquidation, and the
Administrator may, in the exercise of its sole discretion in such instances,
accelerate the date on which any Option becomes exercisable or fully vests
and/or declare that any Option shall terminate as of a specified date.

12.      ADJUSTMENTS.

         The number and class of Shares subject to each outstanding Award, the
Exercise Price and the aggregate number, type and class of Shares for which
Awards thereafter may be made shall be subject to adjustment, if any, as the
Committee deems appropriate, based on the occurrence of a number of specified
and non-specified events. Such specified events are discussed in this Section
12, but such discussion is not intended to provide an exhaustive list of such
events which may necessitate such adjustments. In addition, the Administrator
may treat different Participants and different Awards differently, and may
condition any adjustment on the execution of an appropriate waiver and release
agreement.

         (a) If the outstanding Shares are increased, decreased or exchanged
through merger, consolidation, sale of all or substantially all of the property
of Travelocity, reorganization, recapitalization, reclassification, stock
dividend, stock split or other distribution in respect to such Shares, for a
different number of Shares or type of securities, or if additional Shares or new
or different Shares or other securities are distributed with respect to such
Shares, an appropriate and proportionate adjustment shall be made in (i) the
maximum number of Shares available for the Plan as provided in this Section 12,
(ii) the type of shares or other securities available for the Plan, (iii) the
number of shares of Common Stock subject to any then outstanding Awards under
the Plan, and (iv) the price (including Exercise Price) for each Share (or other
kind of shares or securities) subject to then outstanding Awards, but without
change in the aggregate purchase price as to which such Options remain
exercisable.

         (b) In the event other events not specified above in this Section 12,
such as any extraordinary cash dividend, split-up, spin-off, combination,
exchange of shares, warrants or rights offering to purchase Common Stock, or
other similar corporate event, affect the Common Stock such that an adjustment
is necessary to maintain the benefits or potential benefits intended to be
provided under this Plan, then the Committee in its discretion may make
adjustments to any or all of (i) the number and type of shares which thereafter
may be optioned and sold or awarded

                                       12
<PAGE>   13

under the Plan, (ii) the Exercise Price of any Award made under the Plan
thereafter, and (iii) the number and Exercise Price of each Share (or other kind
of shares or securities) subject to the then outstanding awards, but without
change in the aggregate purchase price as to which such Options remain
exercisable.

         (c) Any adjustment made by the Committee pursuant to the provisions of
this Section 12, subject to approval by the Board of Directors, shall be final,
binding and conclusive. A notice of such adjustment, including identification of
the event causing such an adjustment, the calculation method of such adjustment,
and the change in price and the number of shares of Common Stock, or securities,
cash or property purchasable subject to each Award shall be sent to each
Participant. No fractional interests shall be issued under the Plan based on
such adjustments.

         (d) This Section 12 shall not apply if any such adjustment would be
made in connection with a Change in Control, which is governed by Section 13.

13.      CHANGE IN CONTROL

         In the event of a Change in Control, the Board of Directors, in its
sole discretion, may:

         (a)      make appropriate provisions for continuation of Options
                  granted under the Plan by substituting on an equitable basis
                  for the Shares then subject to such Options either the
                  consideration payable with respect to the outstanding Shares
                  of Common Stock in connection with the transaction or
                  securities of any successor or acquiring entity;

         (b)      upon written notice to the Participants, provide that all
                  Options must be exercised within a reasonable period of time
                  following such notice, after which the Options will expire; or

         (c)      terminate all Options in exchange for a cash payment equal to
                  the difference between the fair market value of the underlying
                  Shares and the Exercise Price, multiplied by the number of
                  Shares subject to Options held by a Participant.

         In the event the Board of Directors chooses alternative (b) or (c),
then all unvested Options outstanding under the Plan will immediately become
vested and exercisable, unless the vesting would prevent a desired pooling of
interest accounting treatment for the Change in Control transaction. To the
extent the Board of Directors elects option (a), and a Participant's employment
is involuntarily terminated without cause within one (1) year following the
Change in Control, then all Options held by such Participant shall immediately
become vested and remain exercisable for 3 months following such termination of
employment (or, if earlier, for the remainder of the Option's term). Under each
alternative, any Options held by nonemployee directors of the Employer or
Travelocity will immediately vest.

14.      ISSUANCES OF SECURITIES.

         Except as expressly provided herein or in the applicable Option
Agreement, no issuance

                                       13
<PAGE>   14

by Travelocity of shares of stock of any class, or securities convertible into
shares of stock of any class, shall affect, and no adjustment by reason thereof
shall be made with respect to, the number or price of Shares subject to Options.
Except as expressly provided herein or in the applicable Option Agreement, no
adjustments shall be made for dividends paid in cash or in property (including
without limitation, securities) of Travelocity.

15.      FRACTIONAL SHARES.

         No fractional share shall be issued under the Plan and the person
exercising such right shall receive from the Employer cash in lieu of such
fractional share equal to the Fair Market Value thereof.

16.      WITHHOLDING.

         In the event that any federal, state, or local income taxes, employment
taxes, Federal Insurance Contributions Act ("F.I.C.A.") withholdings, or other
amounts are required by applicable law or governmental regulation to be withheld
from the Participant's salary, wages, or other remuneration in connection with
the exercise of an Option, the Employer may withhold from the Participant's
wages, if any, or the remuneration, or may require the Participant to advance in
cash to the Employer, or to any Affiliate which employs or employed the
Participant, the amount of such withholdings unless a different withholding
arrangement, including share withholding or the use of previously owned shares
of Common Stock (which the Committee may require to have been held for at least
six (6) months), is authorized by the Administrator (and permitted by law). For
purposes hereof, the Fair Market Value of any Shares withheld for purposes of
payroll withholding shall be determined in the manner provided in Paragraph 1
above, as of the most recent practicable date prior to the date of exercise. If
the Fair Market Value of any Shares withheld is less than the amount of payroll
withholdings required, the Participant may be required to advance the difference
in cash to the Employer or the Affiliate employer. The Administrator may
condition the transfer of any Shares or the lifting of any restrictions on any
Option on the satisfaction by the Participant of the foregoing withholding
obligations.

17.      TERMINATION OF THE PLAN.

         Unless sooner terminated by the Board of Directors, the Plan shall
terminate on September 30, 2009. The Plan's termination will not materially
impair any rights under any Option already made under the Plan without the
consent of the Participant.

18.      AMENDMENT OF THE PLAN AND AGREEMENTS.

         The Plan may be amended by the Board of Directors, including, without
limitation, to the extent necessary to ensure the qualification of the Plan
under Rule 16b-3, and to the extent necessary to qualify the shares issuable
upon exercise of any outstanding Options granted, or Options to be granted,
under the Plan for listing on any national securities exchange or quotation in
any national automated quotation system of securities dealers. Any modification
or amendment of the Plan shall not, without the consent of a Participant,
adversely affect his or her

                                       14
<PAGE>   15

rights under an Option previously granted to him or her. With the consent of the
Participant affected, the Administrator may amend outstanding Agreements in a
manner which may be materially adverse to the Participant but which is not
inconsistent with the Plan. In the discretion of the Administrator, outstanding
Agreements may be amended by the Administrator in a manner which is not
materially adverse to the Participant.

19.      EMPLOYMENT OR OTHER RELATIONSHIP, NATURE OF PAYMENTS.

         Nothing in this Plan or any Agreement shall be deemed to prevent the
Employer from terminating the employment, consultancy, or director status of a
Participant, nor to prevent a Participant from terminating his or her own
employment, consultancy, or director status or to give any Participant a right
to be retained in employment or other service by the Employer for any period of
time.

         All Awards shall constitute a special incentive payment to the
Participant and shall not be taken into account in computing the amount of
salary or compensation of the Participant for the purpose of determining any
benefits under any pension, retirement, profit-sharing, bonus, life insurance,
or other benefit plan of the Employer or under any agreement between the
Employer and the Participant, unless such plan or agreement specifically
provides otherwise.

20.      CONSTRUCTION OF THE PLAN.

         The Plan, and its rules, rights, agreements and regulations, shall be
governed, construed, interpreted and administered solely in accordance with the
laws of the state of Delaware. In the event any provision of the Plan shall be
held invalid, illegal or unenforceable, in whole or in part, for any reason,
such determination shall not affect the validity, legality or enforceability of
any remaining provision, portion of provision or the Plan overall, which shall
remain in full force and effect as if the Plan had been absent the invalid,
illegal or unenforceable provision or portion thereof.

21.      CERTAIN PARTICIPANTS.

         All Agreements for Participants subject to Section 16(b) of the
Exchange Act shall be deemed to include any such additional terms, conditions,
limitations and provisions as Rule 16b-3 requires, unless the Administrator in
its discretion determines that any such Award should not be governed by Rule
16b-3. To the extent any provision of the Plan or any action by the
Administrators of the Plan fails to so comply with Rule 16b-3, it shall be
deemed null and void, to the extent permitted by law and deemed advisable by the
Administrator. All performance-based Awards shall be deemed to include any such
additional terms, conditions, limitations and provisions as are necessary to
comply with the performance-based compensation exemption of Section 162(m) of
the Code unless the Administrator in its discretion determines that any such
Award to a Covered Participant is not intended to qualify for the exemption for
performance-based compensation under Section 162(m).

22.      LISTING, REGISTRATION AND OTHER LEGAL COMPLIANCE.

         Notwithstanding any other provision of this Plan, no Awards or Shares
of the Common

                                       15
<PAGE>   16

Stock shall be required to be issued or granted under the Plan unless legal
counsel to the Company shall be satisfied that such issuance or grant will be in
compliance with all applicable federal and state securities laws and regulations
and any other applicable laws or regulations. The Committee may require, as a
condition of any payment or share issuance, that certain agreements,
undertakings, representations, certificates, and/or information, as the
Committee may deem necessary or advisable, be executed or provided to the
Company to assure compliance with all such applicable laws or regulations. Any
certificates for Shares of the Common Stock delivered under the Plan may be
subject to such legends, stock-transfer orders and such other restrictions as
the Committee may deem advisable under the rules, regulations, or other
requirements of the Securities and Exchange Commission, any stock exchange upon
which the Common Stock is then listed, the NASDAQ National Market System, and
any applicable federal or state securities law. In addition, if, at any time
specified herein (or in any Agreement or otherwise) for (a) the making of any
Award, or the making of any determination, (b) the issuance or other
distribution of Common Stock, or (c) the payment of amounts to or through a
Participant with respect to any Award, any law, rule, regulation, or other
requirement of any governmental authority or agency shall require the Employer,
Travelocity, or any Participant (or any estate, designated beneficiary, or other
legal representative thereof) to take any action in connection with any such
determination, any such Shares to be issued or distributed, any such payment, or
the making of any such determination, as the case may be, shall be deferred
until such required action is taken.

23.      GOVERNING LAW.

         This Plan shall be construed and enforced in accordance with the law of
the State of Delaware, without giving effect to principles of conflict of laws.

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