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  Exhibit 10.22    
    

 
    EMPLOYMENT AGREEMENT    
    

        THIS EMPLOYMENT AGREEMENT ("Agreement") is made and entered into as of the 16th day of October, 2009 by and between ANDREW C.
LEVY (hereinafter "Employee"), whose address is 8360 S. Durango Drive, Las Vegas, Nevada 89113, and ALLEGIANT TRAVEL COMPANY, a Nevada corporation (hereinafter "the Company"), whose address is
8360 S. Durango Drive, Las Vegas, Nevada 89113. 

W
I T N E S S E T H 

        WHEREAS, the Company desires to employ Employee as its president and chief financial officer, and Employee desires to be so employed
pursuant to and in accordance with the terms and conditions hereinafter set forth; and 

        NOW, THEREFORE, for and in consideration of the above premises, the terms and covenants herein contained, and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged by Employee and the Company, it is hereby agreed as follows: 

        1.    Employment.    The Company hereby employs Employee and Employee hereby accepts employment by the Company upon
all of the terms and conditions as are hereinafter set forth. Terms of employment with the Company are also governed by the Company's employment policies in effect from time to time. The Company shall
provide a copy of such employment policies to Employee upon request. In the event of any conflict between the terms of this Agreement and the generally applicable employment policies, the terms of
this Agreement shall prevail. 

        2.    Scope of Services.    

        A.    Employee
shall be employed by the Company as the president and chief financial officer of the Company and its operating subsidiaries. Employee shall report to the
Company's Chief Executive Officer ("CEO") and Board of Directors ("Board"). Employee's duties shall include those indicated above and such other duties assigned to him by the CEO or the Board from
time to time. 

        Employee's
services are mutually agreed to be unique personal services. Employee acknowledges that the Company is relying upon Employee's experience, expertise and other qualifications
in entering into this Agreement. Employee shall not assign or delegate any right, obligation or duty hereunder to any other person or entity without the express written consent of the Company. 

        B.    During
Employee's period of service hereunder, Employee agrees to perform such services not inconsistent with Employee's position as shall from time to time be assigned
to Employee by the Company's CEO or Board. During the term of this Agreement, except for disability, illness and vacation periods, Employee shall devote Employee's full productive time, attention and
energies to the positions of president and chief financial officer of the Company and its operating subsidiaries. 

        C.    Employee's
expenditure of reasonable amounts of time in connection with outside activities, not competitive with the business of the Company, such as outside
directorships or charitable activities, shall not be considered in contravention of this Agreement so long as such activities do not interfere with his performance of this Agreement. Further, it is
understood and agreed by the parties hereto that Employee is entitled to engage in passive and personal investment activities not interfering with his performance of this Agreement. 

 

        3.    Limitations of Duties.    Employee shall not, without consent first being given by the Company, which consent
may be general authority from the Company: 

        A.    Take
part in activities detrimental to the best interests of the Company, including rendering any services to any other firm or entity which conflict or interfere with
the performance of Employee's duties hereunder. 

        B.    Exceed
any limitations on his authority that may be established by the Board. 

        C.    Enter
into any contract, oral or written, in the name of, for or on behalf of the Company other than in the ordinary course of business. 

        D.    Use
any money belonging to the Company or pledge its credit other than in the ordinary course of business. 

        E.    Commit
or suffer to be committed any act whereby the Company's property may be subject to attachment or seizure. 

        F.     Cause
the Company to become a guarantor, surety or endorser or give any note for the benefit of any other person whomsoever. 

Upon
a breach of any provision under this Item 3, the Company shall have the right to terminate this Agreement for cause as set forth in Item 6E hereof and to pursue any other remedies
available to the Company as a result of such breach. 

        Employee
shall indemnify and hold the Company harmless from and against any and all damages, actions, causes of action, claims and other liabilities, contingent or otherwise, directed
toward the Company by others as a result of Employee's violation of any of the provisions of this Item 3. 

        4.    Compensation.    

        A.    Base Compensation.    As base compensation ("Base Salary") for providing services hereunder, Employee shall be
paid Two Hundred Seventy-five Thousand Dollars ($275,000) per
annum to be paid monthly or in more frequent installments as may be agreed upon by the Company and Employee. The salary payable to Employee shall be inclusive of any fees received by Employee as an
officer of the Company or any other company or corporate body in which Employee holds an office as a nominee or representative of the Company. 

        B.    Annual Bonus.    Employee shall be entitled to participate in the Company's annual bonus program (if any) as in
effect from time to time and subject to meeting any requirements established for participation in the bonus program and may also be granted a discretionary bonus in such amount as may be determined by
the Board in its sole discretion. 

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        C.    Stock Appreciation Rights.    Upon the effective date of this Agreement, Employee will be granted stock
appreciation rights (the "2009 SAR's") with respect to 75,000 shares of the common stock of the Company under the Company's 2006 Long-Term Incentive Plan. The strike price for the 2009
SAR's will be the closing price of the Company's common stock on the Nasdaq Global Select Market as of the date of this Agreement. The 2009 SAR's will settle in shares of common stock of the Company
in accordance with the terms of the Stock Appreciation Rights Grant Agreement to be entered into between the Company and Employee to evidence this grant. The 2009 SAR's will vest in three
(3) equal annual installments commencing on the first anniversary of the date of grant and all of the 2009 SAR's, to the extent not earlier exercised, shall expire on the earlier of one hundred
eighty (180) days after termination of employment for any reason whatsoever or on the fifth (5th) anniversary of the date of grant. In the event a Change of Control transaction is
consummated as a result of a definitive agreement entered into by the Company prior to October 16, 2010, vesting of the 2009 SAR's shall be accelerated to the extent of a percentage equal to
the number of full months between the date of this grant and the date of execution of the definitive agreement for the Change of Control transaction divided by 12. By way of amplification, the terms
of the preceding sentence shall apply if a definitive agreement for a Change of Control transaction is entered into prior to October 16, 2010 and if the Change of Control transaction
contemplated by such definitive agreement is ultimately closed, whether or not closed prior to October 16, 2010. By way of example, if the definitive agreement for a Change of Control
transaction is entered into as of April 30, 2010, six (6) full months shall have passed since the grant date and Employee shall be 6/12 (or 50%) vested in the 2009 SAR's.
Upon any other Change of Control, any unvested 2009 SAR's, to the extent not previously forfeited, shall automatically vest. 

        D.    Restricted Stock.    Upon the effective date of this Agreement, Employee will be granted 27,926 shares of
restricted stock (the "2009 Restricted Stock") under the Company's 2006 Long-Term Incentive Plan. The restricted stock will vest in three (3) equal annual installments commencing on
the first anniversary of the date of grant. In the event a Change of Control transaction is consummated as a result of a definitive agreement entered into by the Company prior to October 16,
2010, vesting of the 2009 Restricted Stock shall be accelerated to the extent of a percentage equal to the number of full months between the date of this grant and the date of execution of the
definitive agreement for the
Change of Control transaction divided by 12. For purposes of this calculation, the same principles set forth in paragraph C above shall apply. Upon any other Change of Control, any unvested
2009 Restricted Stock shall automatically vest. 

        E.    Participation in Future Equity Grants.    Employee shall be considered for participation in equity awards to
senior management which may be granted by the Board in the future. 

        F.    Fringe Benefits.    The Company shall provide Employee health and dental insurance for Employee and his family
and such vacation time, sick leave and other fringe benefits, including but not limited to participation in any pension, 401(k) and employee benefit plans that may be maintained by the Company from
time to time as are made generally available to other management employees of the Company in accordance with Company policies. The Company reserves the right to change the benefits available under its
benefit plans at any time or times. 

        G.    Review of Compensation.    Employee's compensation package shall be subject to review each year based on
Employee's performance, achievement of company goals, industry norms for executive compensation, and such other factors as the Company may determine to be appropriate. 

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        H.    Change of Control Benefits.    In the event Employee's employment with Company shall cease within two
(2) years after a "Change of Control" (as defined below) as a result of termination by the Company without "Cause" (as defined in Item 6C) or termination by Employee with "Good Reason"
(as defined in Item 6D), the Company shall pay to Employee severance pay in an aggregate amount equal to twelve (12) months of the total amount of Base Salary, to be paid by the Company
to Employee in a lump sum within one month of the date of termination of employment. In addition, any and all outstanding stock options, restricted stock grants and stock appreciation rights (other
than the 2009 SAR's and the 2009 Restricted Stock which are governed by Paragraph C and D above) held by Employee at the time shall become immediately vested. 

        I.    Definition of Change of Control.    For all purposes of this Agreement, a "Change of Control" shall be deemed to
have occurred if at any time after the date this Agreement is signed: (i) by any method, transaction or series of related transactions, more than 50% of the outstanding shares of Company or
beneficial ownership thereof are acquired within a period of one year by a person or group (as defined in Section 13(d) of the Securities Exchange Act of 1934) other than the members of
Company's Board, those persons who were more than 5% owners of the Company prior to the date of this Agreement, employees of the Company and any of their immediate family members and affiliates;
(ii) there is a merger or consolidation of the Company in which the Company is not the continuing or surviving entity
or in which the stockholders of the Company immediately before such transaction do not own in the aggregate at least 50% of the outstanding voting shares of the continuing or surviving entity
immediately after such transaction; (iii) there is a merger or consolidation of the Company pursuant to which the Company's shares are converted into cash, securities or other property; or
(iv) the Company sells, leases or exchanges all or substantially all of its assets or the Company's stockholders approve the liquidation or dissolution of the Company. 

        J.    Positive Space Travel.    In recognition of Employee's service in a senior management role for the Company since
the initiation of the Company's current business plan, the following benefit is provided. Until such time as Employee's youngest child has attained age twenty-one (21), Employee shall be
entitled to passes for air travel on the flights of the Company (and any successor-in-interest to the Company) for Employee, his wife and children (up to age 21) on a
positive space basis at no cost to Employee. 

        K.    Expense Reimbursement.    In addition, the Company shall reimburse Employee for any expenses incurred by
Employee in connection with the business of the Company, as approved by the Company. These expenses may include expenses for travel, business promotion, association memberships, and any other expenses
as may be approved by the CEO or Board from time to time. The Company shall reimburse Employee for such out-of-pocket expenses by the tenth (10th) day of the month following
the month in which such expenses were incurred (and appropriate documentation thereof has been provided to the Company). The Company may issue to Employee a company credit card. In such event,
Employee agrees to use such card only for the expenses reimbursable under this paragraph. Employee agrees to keep the card securely. In the event of loss or theft, the issuing authority and the
Company shall be informed immediately. The card shall be returned to the Company forthwith on the termination of Employee's employment for any reason whatsoever. 

        L.    Deductions.    Deductions shall be made from Employee's salary for social security, Medicare, federal and state
withholding taxes, and any other such taxes as may from time to time be required by governmental authority. 

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        5.    Term.    The initial term of this Agreement shall commence as of the date hereof (the "Effective Date") and
shall continue until December 31, 2012. The term shall automatically be extended from year to year thereafter unless either party notifies the other of its desire not to extend the term of this
Agreement as provided in Item 6. 

        6.    Termination:    

        A.    This
Agreement shall be terminated upon Employee's death or upon a physician certified disability which permanently or indefinitely renders Employee unable to perform his
usual duties on behalf of the Company. 

        B.    Employee
may, without "Good Reason" (as defined in paragraph D below), terminate this Agreement by giving to the Company sixty (60) days written notice and
such termination shall be effective on the date specified by Employee but in no event earlier than the sixtieth (60th) day following the date of such notice. In such event, Employee shall continue to
render his services up to the Termination Date (as hereinafter defined) if so requested by the Company. For all purposes of this Agreement, it shall be deemed that Employee terminated this Agreement
without cause if this Agreement expires at the end of the initial or any extended term of this Agreement as a result of a notice from Employee not to extend the term of this Agreement. 

        C.    The
Company may, without "Cause" (as defined in paragraph E below), terminate this Agreement at any time by giving to Employee written notice and such termination
shall be effective on the date specified by the Company. At the option of the Company, Employee shall immediately cease performing his duties hereunder upon receipt of the notice. For all purposes of
this Agreement, it shall be deemed that the Company terminated this Agreement without cause if this Agreement expires at the end of the initial or any extended term of this Agreement as a result of a
notice from the Company not to extend the term of this Agreement. If terminated without Cause pursuant to this paragraph C, Employee shall continue to receive his full base salary and related
fringe benefits for twelve (12) months following Employee's termination and all outstanding stock options, restricted stock grants and stock appreciation rights held by Employee at the time
shall become immediately vested except that none of these benefits shall apply in the event of termination without Cause after a Change in Control, in which event, the provisions of Item 4C, 4D
and 4H shall apply. 

        D.    Employee
may terminate this Agreement immediately for "Good Reason". For purposes of this Agreement, Good Reason shall be defined as (i) failure of the Company to
make any payment or provide any benefit to Employee hereunder, which failure is not cured within thirty (30) days after the Company's receipt of written notice of such default, or (ii) a
material diminution of Employee's duties and responsibilities or his title without Employee's consent; provided, however, that a material diminution of duties shall not be deemed to have occurred if
the Board determines to employ another chief financial officer in Employee's place, but Employee continues to serve as President, (iii) the imposition of a requirement on Employee to report to
a new CEO or to another officer unless approved by Employee, or (iv) the principal location at which Employee is to perform his duties is relocated to a place more than fifty (50) miles
from Las Vegas, Nevada. Any termination under this paragraph D shall take effect immediately upon the Company's receipt of written notice from Employee after the expiration of any applicable
cure period. If Employee terminates this Agreement for "Good Reason" pursuant to this paragraph D, Employee shall continue to receive his full base salary and related fringe benefits for twelve
(12) months following Employee's termination and all outstanding stock options, restricted stock grants and stock appreciation rights held by Employee at the time shall become immediately
vested except that none of these benefits shall apply in the event of termination of employment by Employee for Good Reason after a Change of Control, in which event, the provisions of Item 4C,
4D and 4H shall apply. 

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        E.    The
Company may terminate this Agreement immediately for "Cause". For purposes of this Agreement, "Cause" shall be defined as any of the following: (i) Employee
shall commit a felony or other act involving moral turpitude, which other act is materially detrimental to the Company; (ii) Employee shall knowingly commit any act of prohibited conduct as set
forth in Item 3 of this Agreement; (iii) Employee shall commit any act, specifically including but not limited to drug or alcohol abuse, which act is materially harmful to the Company,
or which in the reasonable opinion of the Company's Board brings the Company into disrepute; (iv) Employee shall commit any act of fraud, dishonesty, theft or misappropriation, whether or not
related to his activities on behalf of the Company, including providing false reports or accounts to the Company or deliberately making false statements about the Company, its services, employees,
customers or suppliers; (v) intentional or repeated material neglect of Employee's duties; (vi) breach by Employee of any other material provision of this Agreement;
(vii) Employee shall become the subject of a bankruptcy proceeding or otherwise make an arrangement or composition with creditors generally; (viii) Employee shall engage in
anti-social behavior (such as fighting, indecency, harassment, sexual or racial harassment or discrimination, intimidation of others, physical violence or assault) during the course of
performing duties for the Company or against another employee outside of work; (ix) Employee shall have possession of illegal drugs at the Company's workplace; or (x) Employee shall
perform duties in a negligent or dangerous manner which causes or is likely to cause material loss or injury. This Agreement may not be terminated by the Company under subclause (v),
(vi) or (x) of this Item unless and until the Company has provided Employee with written notice of such violative conduct and Employee has failed to cure (or fails to commence and
thereafter diligently pursue the cure) such act within thirty (30) days after Employee's receipt of such written notice; provided, however, that no right to cure shall be available for a second
or subsequent violation of the same provision within any twelve (12) month period. Any termination under this paragraph E shall take effect immediately upon Employee's receipt of written
notice from the Company or expiration of any applicable cure period, whichever is later. The failure of the Company to terminate this Agreement for cause as a result of any of the foregoing at any one
or more times shall not affect the Company's ability to terminate this Agreement for cause as a result of the subsequent occurrence of any act giving rise to "cause" hereunder, provided that Employee
is still provided with a notice to cure if applicable in accordance with the above. 

        F.     Upon
termination, Employee shall have no obligation to provide any additional services, and except as expressly provided above, the Company shall only be obligated pay to
Employee the portion of any amounts due as of the termination date, together with all unreimbursed out-of-pocket expenses incurred by Employee. 

        G.    Termination of Employee's Obligations.    Employee's obligations under Item 7 of this Agreement shall
survive the expiration of the term of this Agreement without renewal and termination of Employee's employment as provided in such Item. 

        H.    Resignation of Positions upon Termination.    On the termination of this Agreement for any reason whatsoever,
Employee shall at the request of the Company immediately resign (without prejudice to any claims which Employee may have against the Company arising out of this Agreement or the termination thereof)
from all and any offices which Employee may hold as an officer or member of the Board of the Company and from all other appointments or offices which Employee holds as a nominee or representative of
the Company and if Employee should fail to do so, the Company is hereby irrevocably authorized to appoint another person in Employee's name and on Employee's behalf to sign any documents or do any
thing necessary or requisite to effect such resignation(s) and/or transfers. 

        I.    Termination Date.    For all purposes of this Agreement the "Termination Date" shall refer to the effective date
of termination as set forth above. 

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        7.    Restrictive Covenants.    As a material inducement to the Company's employment of Employee, the provisions of
this Item 7 shall apply. 

        A.    For
purposes of this Item, the following terms and provisions shall have the following meanings: 

          (i)  "Prohibited
Time Period" shall mean the period beginning on the date of execution hereof and ending on the date that is twelve (12) months after the termination
of employment for any reason whatsoever of Employee. 

         (ii)  "Prohibited
Business" shall mean the business of providing charter or scheduled airline service. 

        (iii)  "Prohibited
Geographic Area" shall mean the conduct of the Prohibited Business to or from markets in the states of California, Nevada, Florida or Arizona. 

        (iv)  "Prohibited
Capacity" shall mean service in the capacity of an executive or board member or in such other management position or as a significant equity owner, in all
of which capacities Employee acknowledges that he has served and will serve the Company and its subsidiaries during the course of his employment for the Company. 

         (v)  "Prohibited
Party" shall mean all travel partners of the Company who (a) have contracted for regular chartered air service with the Company during the one
(1) year period prior to the date of termination of employment, or (b) have been solicited as potential travel partners of the Company at a meeting held at any time during the one
(1) year period prior to the date of termination of employment of Employee. 

        (vi)  "Prohibited
Employee" means any employee, independent contractor or consultant of the Company who worked for the Company at any time within six (6) months prior
to the termination of employment of Employee. 

       (vii)  The
"Western United States" includes the states of Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington and
Wyoming. 

        B.    Employee
agrees that during the Prohibited Time Period, he shall not, for any reason, without the prior written consent of the Company, on his own behalf or in the
service or on behalf of others, serve in a Prohibited Capacity in the Prohibited Business in the Prohibited Geographic Area; provided, however, that this restriction shall not preclude Employee from
working (in any capacity) for an airline that provided airline service to or from the Western United States or to or from Florida prior to 1990 so long as the airline is not headquartered within the
Western United States. 

        C.    Employee
covenants and agrees that during the Prohibited Time Period, he shall not, for any reason, directly or indirectly (whether as officer, director, consultant,
employee, representative, agent, partner, owner, stockholder or otherwise), (i) solicit charter air services from, or market charter air services to, any Prohibited Party, or (ii) enter
into a transaction with such Prohibited Party as a result of which the Prohibited Party does, or is likely to, reduce the amount of business between the Prohibited Party and the Company. 

        D.    Employee
agrees that during the Prohibited Time Period, he shall not, for any reason, without the prior written consent of the Company, on his own behalf or in the
service or on behalf of others, hire any Prohibited Employee or request or induce any Prohibited Employee to terminate that person's employment or relationship with the Company or to accept employment
with any other person. 

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        E.    The
parties agree that: (i) the covenants and agreements of Employee contained in this Item are reasonably necessary to protect the interests of the Company in
whose favor said covenants and agreements are imposed in light of the nature of the Company's business and the professional involvement of Employee in such business; (ii) the restrictions
imposed by this Item are not greater than are necessary for the protection of the Company in light of the substantial harm that the Company will suffer should Employee breach any of the provisions of
said covenants or agreements; (iii) the covenants and agreements of Employee contained in this Item have been independently negotiated between the parties and served as a material inducement
for the Company to enter into this Agreement; (iv) the period and geographical area of restriction referred to in this Item are fair and reasonably required for the protection of the Company;
and (v) the nature, kind and character of the activities Employee is prohibited to engage in are reasonable and necessary to protect the Company in that the Company will rely on Employee for
those important aspects of its business. 

        F.     Employee
acknowledges that a material breach by Employee of any part of this Item will result in irreparable and continuing damage to the Company and any material breach
or threatened breach of the covenants provided in this Item shall be subject to specific performance by temporary as well as permanent injunction or any other equitable remedies of any court of
competent jurisdiction. 

        G.    The
covenants and agreements on the part of Employee contained in this Item shall be construed as agreements independent of any other agreement between Employee and the
Company. The existence of any claim or cause of action of Employee against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the
Company of each of such covenants and agreements or otherwise affect the remedies to which the Company is entitled hereunder. 

        H.    If
the provisions of this Item 7 should ever be adjudicated to exceed the time, geographic or other limitations permitted by applicable law in any jurisdiction,
then such provisions shall be deemed reformed in such jurisdiction to the maximum time, geographic or other limitation permitted by applicable law. 

        I.     Nothing
contained in this Item shall restrict Employee from being a not more than 1% stockholder (but not an officer, director, employee, consultant or advisor) of any
corporation that directly or indirectly competes with the Company provided the stock of such competing corporation is publicly held and listed on a national stock exchange. 

        8.    Confidential Information.    

        A.    During
the period beginning on the execution date of this Agreement and ending on the third (3rd) anniversary of any termination or expiration of this
Agreement, Employee agrees that he shall not, except in pursuit of the Company's business or with the prior written consent of the Company, for his own benefit or for the benefit of any other person
or entity: 

          (i)  directly
or indirectly disclose, reveal, report, duplicate or transfer any Confidential Information to any other person or entity outside of the Company; 

         (ii)  directly
or indirectly aid, encourage, direct or allow any other person or entity outside of the Company to gain possession of or access to Confidential Information; 

        (iii)  directly
or indirectly copy or reproduce Confidential Information, except as required as part of Employee's duties; or 

        (iv)  directly
or indirectly use, sell or exploit any Confidential Information or aid, encourage, direct or allow any other person or entity to use, sell or exploit any
Confidential Information. 

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        This
covenant shall not apply to any Confidential Information now or hereafter voluntarily disseminated by the Company to the public, or which otherwise has become part of the public
domain through means other than a breach of Employee's duty of confidentiality hereunder. "Confidential Information", for purposes of this Agreement, shall mean information of the Company that
constitutes a trade secret or confidential information under Nevada law and shall include, but not be limited to, all relevant information (whether or not reduced to writing and in any and all stages
of development), concerning the Company and its services, plans, business practices, methods of operation, financial information, names or lists of names of employees, contractors, suppliers and
customers, employee
compensation and benefits, other personal employee information, interpretations, surveys, forecasts, marketing plans, development plans, notes, reports, market analyses, specialized software and
databases and other information related to suppliers and customers that could be used as a competitive advantage by competitors if revealed or disclosed to such competitors or to persons or entities
revealing or disclosing same to such competitors; together with any and all extracts, summaries and photo, electronic or other copies or reproductions, in whole or in part, stored in whatever medium.
Employee acknowledges that the Confidential Information is secret, confidential and proprietary to the Company and has been or will be disclosed to and/or obtained by Employee in confidence and trust
for the sole purpose of using the same for the sole benefit of the Company. 

        B.    Employee
hereby acknowledges and agrees that (i) the Company has expended considerable and substantial time, effort and capital resources to develop the
Confidential Information, (ii) the Confidential Information is innovative and must receive confidential treatment to protect the Company's competitive position in the market and the Company's
proprietary interest therein from irreparable damage, (iii) Employee, by virtue of his relationship with the Company, has had and will have access to the Confidential Information, and
(iv) the Confidential Information and all physical embodiments or other repositories of the same shall be and at all times remain the sole and exclusive property of the Company. 

        C.    Since
irreparable harm will otherwise result to the Company in the event of a breach or threatened breach by Employee of the provisions of Item 8A, the Company
shall be entitled to an injunction restraining Employee from disclosing, in whole or in part, any Confidential Information, or from rendering any services to any person, firm, company, association or
other entity to whom such Confidential Information, in whole or in part, has been disclosed or is threatened to be disclosed. 

        9.    Company Property.    

        A.    Employee
acknowledges that all recorded information, including without limitation all notes, memoranda, records, laboratory reports, documents, papers, computer disks,
tapes or other storage media and all other papers and documents whatsoever which may have been prepared by Employee or have come into Employee's possession or control in the course of employment with
the Company (the "Documents") and other materials owned or used by the Company shall at all times remain the sole property of the Company. 

        B.    Employee
agrees to promptly, upon request of the Company and in any event upon the termination of Employee's employment with the Company for any reason whatsoever,
forthwith return to the Company all property whatsoever belonging to the Company including, without limitation, any laptop computer belonging to the Company, security passes, credit cards and all
copies of the Documents which have come into Employee's possession or control in the course of employment with the Company and Employee shall not be entitled to and shall not retain any copies
thereof. 

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        10.    Professional Responsibility.    

        A.    Employee
agrees that he will provide in connection with the performance of all services under this Agreement the skill and diligence normally provided by competent
professionals in the performance of services similar to that contemplated by this Agreement. 

        B.    Both
parties acknowledge and agree that a fiduciary and confidential relationship has commenced and will continue to exist between them and that said relationship will
continue during the term of this Agreement. 

        C.    Employee
represents that he has no conflicts of interest in rendering his professional services to the Company. 

        D.    Employee
shall not during the course of his employment (except as a representative or nominee of the Company or otherwise with the prior consent in writing of the Board)
be directly or indirectly engaged, concerned or interested in any other business which: (i) is wholly or partly in competition with any business carried on by the Company by itself or in
partnership, common ownership or as a joint venture with any third party; or (ii) is a supplier to or customer of the Company, provided that Employee may own not more than one percent (1%) of
the issued shares of any company which is publicly held and listed on a national stock exchange or on the Nasdaq Stock Market. 

        E.    Subject
to any regulations from time to time issued by the Company, Employee shall not receive or obtain directly or indirectly any discount, rebate, commission or other
inducement in respect of any sale or purchase of any goods or services effected or other business transacted (whether or not by Employee) by or on behalf of the Company and if Employee (or any firm or
company in which Employee is directly or indirectly engaged, concerned or interested) shall obtain any such discount, rebate, commission or inducement, Employee shall account to the Company for the
amount received by Employee or the amount received by such firm or company. 

        F.     As
an inducement to the Company to enter into this Agreement, Employee represents and warrants that: (i) he is not a party to any other agreement or obligation for
personal services; (ii) there exist no impediments or restraints, contractual or otherwise, on Employee's power, right or ability to enter into this Agreement and to perform his duties and
obligations hereunder; (iii) the performance of his obligations under this Agreement do not and will not violate or conflict with any agreement relating to
confidentiality, non-competition or exclusive employment to which Employee is or was subject; and (iv) Employee has not been involved in any legal proceedings that would be required
to be disclosed in response to Item 401(f) of Regulation S-K promulgated under the Securities Act of 1933, as amended. As an inducement to Employee to enter into this
Agreement, the Company represents and warrants that there exist no impediments or restraints, contractual or otherwise, on the Company's power, right or ability to enter into this Agreement and to
perform its duties and obligations hereunder. 

        11.    Privacy Waivers.    

        A.    The
Company reserves the right to stop and search any employee or property of any employee when entering or leaving the Company's premises. 

        B.    The
Company reserves the right to monitor at any time telephone calls, electronic communications and information transmitted on Company networks or on computer equipment
which is owned by the Company or on computers on Company premises that are used for Company business. 

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        12.    Notice.    All notices required or sent hereunder shall be sent by personal delivery, overnight priority mail
via a nationally recognized overnight delivery company, or by certified mail, return receipt requested to the address of the party entitled to receive the notice as set forth above. Notices sent in
accordance with this paragraph shall be deemed received upon personal delivery, one (1) business day after delivery to a nationally recognized overnight delivery company or five (5) days
after mailed, as aforesaid. 

        13.    Breach by the Company.    If there is a dispute regarding the payment of any sum by the Company hereunder, the
Company shall not be deemed to have failed to have made a payment hereunder if pending the resolution of such dispute, the Company pays the amount in dispute into court or into an escrow account at
the Company's bank or with the Company's counsel. 

        14.    Remedies Not Exclusive.    The rights, remedies and benefits herein expressly specified are cumulative and not
exclusive of any rights, remedies or benefits which any party may otherwise have. 

        15.    Invalid Provisions.    The invalidity of any one or more of the clauses or words contained in this Agreement
shall not affect the reasonable enforceability of the remaining provisions of this Agreement, all of which are inserted herein conditionally upon being valid in law; and in the event that one or more
of the words or clauses contained herein shall be invalid, this instrument shall be construed as if such invalid words or clauses had not been inserted or, alternatively, said words or clauses shall
be reasonably limited to the extent that the applicable court interpreting the provisions of this Agreement considers to be reasonable. 

        16.    Binding Effect.    This Agreement, as it relates to restrictions applicable to Employee, is a personal contract
and the rights and interests of Employee hereunder may not be sold, transferred, assigned, pledged or hypothecated. However, this Agreement shall inure to the benefit of and be binding upon Company
and its successors and assigns including, without limitation, any corporation or other entity into which Company is merged or which acquires all or substantially all of the outstanding ownership
interests or assets of Company. 

        17.    Jurisdiction.    Each of the undersigned further agrees that any action or proceeding brought or initiated in
respect of this Agreement may be brought or initiated in the United States District Court for the State of Nevada or in any District Court located in Clark County, Nevada, and each of the undersigned
consents to the exercise of personal jurisdiction and the placement of venue in any of such courts, or in any jurisdiction allowed by law, in any such action or proceeding and further consents that
service of process may be effected in any such action or proceeding in the manner provided in Section 14.065 of the Nevada Revised Statutes or in such other manner as may be permitted by law.
Each of the undersigned further agrees that no such action shall be brought against any party hereunder except in one of the courts above named. 

        18.    Attorney's Fees.    In the event an action is taken by either party to enforce this Agreement or resolve a
dispute in connection herewith, the prevailing party shall be entitled to recover the costs incurred with the prosecution and defense of such action, including reasonable attorney's fees. 

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        19.    Miscellaneous.    This Agreement shall be construed under and governed by the laws of the State of Nevada other
than its conflicts of laws principles. This Agreement contains the complete understanding of the parties with respect to the subject matter of this Agreement and supersedes that certain Employment
Agreement dated as of July 31, 2006, between the parties and all other prior agreements, understandings and negotiations relating to the same subject matter. This Agreement may only be modified
by a written instrument signed by each of the parties hereto. No provisions of this Agreement will be interpreted in favor of, or against, any of the parties hereto by reason of the extent to which
any such party or its counsel participated in the drafting thereof or by reason of the extent to which any such provision is inconsistent with any prior draft hereof or thereof. Failure to require
strict
compliance with any term or provision of this Agreement shall not constitute a waiver of a party's right to insist upon strict compliance with each and every provision of this Agreement. No waiver of
any terms and conditions of this Agreement shall be deemed to be a waiver of any subsequent breach of that or any other term of condition. This Agreement may be executed in one or more counterparts,
each of which shall be deemed to be an original, but all of which together shall constitute one and same instrument. The provisions of Item 3 (the last paragraph), 4J, 6H, 7, 8, 9 and 12
through 19 shall survive the termination of this Agreement and Employee's employment with the Company. This Agreement may be executed by any party by delivery of a facsimile signature, which signature
shall have the same force as an original signature. Any party which delivers a facsimile signature shall promptly thereafter deliver an originally executed signature to the other party; provided,
however, that the failure to deliver an original signature page shall not affect the validity of any signature delivered by facsimile. The paragraph headings contained in this Agreement are for
reference only and shall not be deemed to impart substantive meeting to any provision of this Agreement. Each party has had the opportunity to be represented by counsel of its choice in negotiating
this Agreement. This Agreement shall therefore be deemed to have been negotiated and prepared at the joint request and direction of the parties, at arm's length, with the advice and participation of
counsel, and shall be interpreted in accordance with its terms and without favor to any party. 

        IN WITNESS WHEREOF, this Agreement has been signed, sealed and delivered as of the date and year first above written. 

 

 

					
	 	 	 EMPLOYEE:
	

 	
 	
  

  ANDREW C. LEVY
	

 	
 	
 COMPANY:
	

 	
 	
 ALLEGIANT TRAVEL COMPANY
	

 	
 	
By:	
 	
 

 
	

 	
 	
Title:	
 	
  

 

 

 12

QuickLinks

Exhibit 10.22

EMPLOYMENT AGREEMENTQuickLinks
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  Exhibit 10.23    
    

 
    ALLEGIANT TRAVEL COMPANY
  RESTRICTED STOCK
  AGREEMENT    
    

        This Restricted Stock Agreement (the "Agreement") is made as of the 16th day of October, 2009 ("Date of Grant")
between Allegiant Travel Company, a Nevada corporation (the "Company") and ANDREW C. LEVY ("Grantee"). 

        1.    RESTRICTED STOCK AWARDS.    

        A.    The
Company hereby grants to Grantee a total of Twenty-Seven Thousand Nine Hundred Twenty-Six (27,926) shares of the Company's Common Stock (the "Restricted
Stock") subject to the terms and conditions set forth below. 

        B.    Grantee
will receive a certificate identifying the number of shares of common stock issued to the Grantee as Restricted Stock. 

        C.    The
Restricted Stock has been awarded as compensation to the Grantee for services to be rendered over the vesting period provided for herein. 

        D.    This
Agreement sets forth the terms, conditions and restrictions applicable to the Restricted Stock granted to Grantee. 

        2.    RESTRICTIONS.    

        A.    The
Restricted Stock has been awarded to the Grantee subject to the transfer and forfeiture conditions set forth in Paragraph B below (the "Restrictions") which
shall lapse, if at all, as described in Section 3 below. For purposes of this Award, the term Restricted Stock includes any additional shares of stock granted to the Grantee with respect to any
Restricted Stock (e.g., shares issued upon a stock dividend or stock split) prior to the vesting of the Restricted Stock. 

        B.    Grantee
may not directly or indirectly, by operation of law or otherwise, voluntarily or involuntarily, sell, assign, pledge, encumber, charge or otherwise transfer (a
"transfer") any of the Restricted Stock prior to vesting as provided in Section 3 below. Any transfer or attempted transfer prior to such time shall be null and void and of no effect
whatsoever. 

        C.    If
the Grantee's employment with the Company terminates prior to the vesting of all Restricted Stock of the Grantee for any reason other than as set forth in
Section 3 below, then the Grantee shall forfeit all of the Grantee's right, title and interest in and to the Restricted Stock not vested as of the date of such termination and such Restricted
Stock shall be reconveyed to the Company as of the date of such termination without further consideration or any act or action by the Grantee. 

        D.    The
Restrictions imposed under this Section 2 shall apply to all shares of the Company's common stock or other securities issued with respect to Restricted Stock
hereunder in connection with any merger, reorganization, consolidation, recapitalization, stock dividend or other change in corporate structure affecting the common stock of the Company which occurs
prior to the vesting of the Restricted Stock. 

        3.    EXPIRATION AND TERMINATION OF RESTRICTIONS.    The Restrictions imposed under Section 2 above will expire
and vesting of the Restricted Stock shall be as follows: 

        A.    On
October 16, 2010, the Restrictions will expire with respect to one-third (1/3) of the Restricted Stock of the Grantee not forfeited
prior to that date; 

        B.    On
October 16, 2011, the Restrictions will expire with respect to an additional one-third (1/3) of the Restricted Stock of the Grantee
not forfeited prior to that date; and 

 

        C.    On
October 16, 2012, the Restrictions will expire with respect to the balance of the Restricted Stock of the Grantee not forfeited prior to that date. 

Notwithstanding
anything herein to the contrary, the following special vesting rules shall apply: 

          (i)  All
Restricted Stock of the Grantee shall become fully vested upon the Grantee's death or total disability. Total disability shall be defined as a physician certified
disability which permanently or indefinitely renders the Grantee unable to perform his usual duties for the Company. 

         (ii)  All
Restricted Stock of the Grantee shall become fully vested upon the termination of Grantee's employment by the Company without "Cause" or the termination of
Grantee's employment with the Company by Employee for "Good Reason" ("Cause" and "Good Reason" as defined in that certain Employment Agreement between the Company and Grantee as of even date hereof). 

        (iii)  In
the event a Change of Control transaction is consummated as a result of a definitive agreement entered into by the Company prior to October 16, 2010, vesting
of the Restricted Stock shall be accelerated to the extent of a percentage equal to the number of full months between the date of this grant and the date of execution of the definitive agreement for
the Change of Control transaction divided by 12. By way of amplification, the terms of the preceding sentence shall apply if a definitive agreement for a Change of Control transaction is entered into
prior to October 16, 2010 and if the Change of Control transaction contemplated by such definitive agreement is ultimately closed, whether or not closed prior to October 16, 2010. By way
of example, if the definitive agreement for a Change of Control transaction is entered into as of April 30, 2010, six (6) full months shall have passed since the grant date and Employee
shall be 6/12 (or 50%) vested in the Restricted Stock granted hereunder. Upon any other Change of Control, any unvested Restricted Stock, to the extent not previously forfeited, shall
automatically vest. 

        (iv)  For
purposes of subparagraph (iii) above, a "Change of Control" shall be deemed to have occurred if at any time after the date this Agreement is signed:
(w) by any method, transaction or series of related transactions, more than 50% of the outstanding shares of Company or beneficial ownership
thereof are acquired within a period of one year by a person or group (as defined in Section 13(d) of the Securities Exchange Act of 1934) other than the members of Company's Board of
Directors, those persons who were more than 5% owners of the Company prior to the date of this Agreement, employees of the Company and any of their immediate family members and affiliates;
(x) there is a merger or consolidation of the Company in which the Company is not the continuing or surviving entity or in which the stockholders of the Company immediately before such
transaction do not own in the aggregate at least 50% of the outstanding voting shares of the continuing or surviving entity immediately after such transaction; (y) there is a merger or
consolidation of the Company pursuant to which the Company's shares are converted into cash, securities or other property; or (z) the Company sells, leases or exchanges all or substantially all
of its assets or the Company's stockholders approve the liquidation or dissolution of the Company 

        4.    ADJUSTMENTS.    If the number of outstanding shares of common stock of the Company is changed as a result of a
stock dividend, stock split or the like without additional consideration to the Company, the number of shares of Restricted Stock under this Agreement shall be adjusted to correspond to the change in
the outstanding shares of the Company's common stock. 

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        5.    VOTING AND DIVIDENDS.    Subject to the restrictions contained in Section 2 hereof, the Grantee shall
have all rights of a stockholder of the Company with respect to the Grantee's Restricted Stock, including the right to vote the shares of the Grantee's Restricted Stock and the right to receive any
cash or stock dividends, including dividends of stock of a company other than the Company. Stock dividends issued with respect to the Grantee's Restricted Stock shall be treated as additional shares
of the Grantee's Restricted Stock (even if they are shares of a company other than the Company) that are subject to the same restrictions and other terms and conditions that apply to the shares with
respect to which such dividends are issued. If a dividend is paid in other property, the Grantee will be credited with the amount of property which would have been received had the Grantee owned a
number of shares of common stock equal to the number of shares of Restricted Stock credited to his or her account. The property so credited will be subject to the same restrictions and other terms and
conditions applicable to the Restricted Stock under this Agreement and will be disbursed to the Grantee in kind simultaneously with the Restricted Stock to which such property relates. 

        6.    DELIVERY OF SHARES.    The shares of Restricted Stock of the Grantee will be issued in the name of the Grantee
as Restricted Stock and will be held by the Company prior to vesting in certificated or uncertificated form. If a certificate for Restricted Stock is issued prior to vesting, such certificate shall be
registered in the name of the Grantee and shall bear a legend in substantially the following form: 

"This
certificate and the shares of stock represented hereby are subject to the terms and conditions (including forfeiture and restrictions against transfer) contained in a Restricted Stock Agreement
dated
October 16, 2009, between the registered owner of the shares represented hereby and Allegiant Travel Company. Release from such terms and conditions shall be made only in accordance with the
provisions of such Agreement, copies of which are on file in the office of Allegiant Travel Company." 

        Upon
request from the Company, the Grantee shall deposit with the Company a stock power, or powers, executed in blank and sufficient to reconvey the Restricted Stock to the Company upon
any forfeiture of the Restricted Stock (or a portion thereof), in accordance with the provisions of this Agreement. Upon vesting of any Restricted Stock, any stock certificates and stock powers
relating to such vested Restricted Stock shall be released to the Grantee upon request. 

        7.    WITHHOLDING TAXES.    The Company is entitled to withhold an amount equal to the Company's required minimum
statutory withholding taxes for the respective tax jurisdiction attributable to any share of common stock or property deliverable in connection with the Restricted Stock. Grantee may satisfy any
withholding obligation in whole or in part by electing to have the Company retain shares of the Restricted Stock having a Fair Market Value on the date of vesting equal to the minimum amount to be
withheld. Fair Market Value for this purpose shall be the closing price for a share of the Company's common stock on the last trading day before the date of vesting. 

        8.    OTHER RIGHTS.    The grant of Restricted Stock does not confer upon Grantee any right to continue in the employ
of the Company and does not interfere with the right of the Company to terminate Grantee's employment at any time. 

        9.    NOTICES.    Any written notice under this Agreement shall be deemed given on the date that is three business
days after it is sent by registered or certified mail, postage prepaid, addressed either to the Grantee at his or her address as indicated in the Company's employment records or to the Company at its
principal office. Any notice may be sent using any other means (including personal delivery, expedited courier, messenger service, telecopy, ordinary mail or electronic mail) but no such notice shall
be deemed to have been duly given unless and until it is actually received by the intended recipient. 

3

 

        10.    NONTRANSFERABILITY.    This Agreement and all rights hereunder are nontransferable and nonassignable by the
Grantee, other than by the last will and testament of Grantee or the laws of descent and distribution, unless the Company consents thereto in writing. Any transfer or attempted transfer except
pursuant to the preceding sentence shall be null and void and of no effect whatsoever. 

        11.    SECTION 83(b) ELECTION.    Grantee may make an election to be taxed upon the grant of his or her
Restricted Stock under Section 83(b) of the Internal Revenue Code of 1986, as amended. To effect such election, the Grantee must file an appropriate election with the Internal Revenue Service
within thirty (30) days after the grant of the Restricted Stock and otherwise in accordance with the applicable Treasury Regulations. 

        12.    AMENDMENT.    This Agreement may not be amended except by a writing signed by the Company and Grantee. 

        13.    HEIRS AND SUCCESSORS.    Subject to Section 10 above, this Agreement and all terms and conditions hereof
shall be binding upon the Company and its successors and assigns, and upon the Grantee and their heirs, legatees and legal representatives. 

        14.    INTERPRETATION.    Any issues of interpretation of any provision of this Agreement shall be resolved by the
Compensation Committee of the Board of Directors of the Company. 

        15.    SEVERABILITY.    The provisions of this Agreement, and of each separate section and subsection, are severable,
and if any one or more provisions may be determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions, and any unenforceable provisions to the extent enforceable,
shall nevertheless be binding and enforceable. 

        16.    GOVERNING LAW.    All questions concerning the construction, validity and interpretation of this Agreement
shall be governed by and construed according to the internal law and not the law of conflicts of the State of Nevada. 

        17.    WAIVER.    The failure of the Company to enforce at any time any provision of this Agreement shall in no way be
construed to be a waiver of such provision or any other provision hereof. 

[THE
REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

4

 

        IN
WITNESS WHEREOF, the Company has executed this Agreement as of day and year first above written. 

 

 

					
	 	 	ALLEGIANT TRAVEL COMPANY
	

 	
 	
By:	
 	
 

 
	

 	
 	
Its:	
 	
  

 

 

         The
undersigned Grantee hereby accepts, and agrees to, all terms and provisions of the foregoing Award. 

 

 

					
	 
	 	 
	 	 

	  

 	 	 
	Name: ANDREW C. LEVY	 	 
	
 Address:	
 	
508 Royalton Drive

Las Vegas, Nevada 89144	
 	

 

 

 5

QuickLinks

Exhibit 10.23

ALLEGIANT TRAVEL COMPANY RESTRICTED STOCK AGREEMENT

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