Document:

EX-10.7

 Exhibit 10.7 
  

					
	

	 		  	 Frontier Airlines, Inc.

7001 Tower Road

Denver, Colorado 80249

 May 9, 2017 

Mr. James Nides 
 Re:
COO Employment Terms 
 Dear Jim: 

Frontier Airlines, Inc. (“Frontier”) is pleased to have you continue to serve as a full-time employee of
Frontier. This letter agreement sets forth the terms of your continued employment and amends and restates that certain letter agreement between you and the Company dated as of February 23, 2015 (the “Prior Agreement”) in its
entirety, effective as of May 3, 2017 (the “Effective Date”). Your employment with Frontier under this letter agreement will be for a term commencing on the Effective Date and ending on the second anniversary of the Effective
Date (the “Term”). 
 During the Term, your title will be Chief Operating Officer, and you will have such
duties as are normally associated with this position as such duties may be modified or supplemented by Frontier’s Chief Executive Officer, to whom you will report. You will continue to reside in Denver, Colorado and work in Frontier’s
headquarters located there, except for such travel as may be necessary to fulfill your responsibilities. In the course of your employment with Frontier, you will continue to be subject to and required to comply with all company policies, and
applicable laws and regulations. These include equal employment opportunity in hiring, assignments, training, promotions, compensation, employee benefits, employee discipline and discharge, and all other terms and conditions of employment. 

Retroactive to January 1, 2017, you will be paid a base salary at the annual rate of $350,000 (subject to required tax
withholding and other authorized deductions). Your base salary will be payable in accordance with Frontier’s standard payroll policies and be subject to adjustment pursuant to Frontier’s policies as in effect from time to time, which
policies currently include an annual review. 
 In addition to your base salary, you will be eligible to earn an annual cash
performance bonus, at the discretion of Frontier’s Board of Directors or one of such board’s committees, based on the attainment of performance metrics for Frontier and/or individual performance objectives, in each case established and
evaluated by such board or one of its committees. Your target annual bonus will be 75% of your base salary, but the actual amount of your annual bonus may range from 0% of your base salary to 150% of your base salary. Any annual bonus will be
contingent upon your continued employment through the applicable payment date. You hereby acknowledge and agree that nothing contained herein confers upon you any right to an annual bonus in any year, and that whether Frontier pays you an annual
bonus and the amount of any such annual bonus will be determined by Frontier in its sole discretion. 

  
 

 

					
	

	 		  	 Frontier Airlines, Inc.

7001 Tower Road

Denver, Colorado 80249

  

 Frontier is owned by Frontier Group Holdings, Inc. (“FGHI”).
FGHI has adopted an equity incentive plan (the “Equity Plan”) pursuant to which FGHI may grant equity awards. 

You acknowledge that in connection with your appointment as Frontier’s Chief Operating Officer, on May 3, 2017,
FGHI’s board of directors granted to you, pursuant to the Equity Plan, an option to purchase 5,750 shares of FGHI common stock, which vests with respect to 50% of the shares underlying the option on each of the first two anniversaries of the
vesting commencement date, subject to your continuing employment with Frontier through each applicable vesting date. You also received an initial option to purchase 5,750 shares of FGHI common stock on April 13, 2015, with a four-year vesting
period. Both your initial and secondary stock options shall vest, and become exercisable, in full upon the closing of any Change in Control (as defined in the Equity Plan). Such options are otherwise subject to the terms of the Equity Plan and the
agreements evidencing the options. 
 During the Term, Frontier will continue to provide you, your spouse, your eligible
children and your parents privileges to travel positive space on Frontier Airlines with the priority code PS2B in accordance with Frontier policy as to the extent and use of such benefits by senior executives (the “Flight Benefit”).

 During the Term, you will also continue to be entitled to three weeks of annual paid vacation, in accordance with
Frontier’s vacation policy as it may be amended from time to time. 
 You will continue to be eligible during your
employment to participate in all of the employee benefits and benefit plans that Frontier generally makes available to its regular full-time employees. In addition, during your employment, you will continue to be eligible for other standard
benefits, to the extent applicable generally to other similarly situated employees of Frontier. Frontier reserves the right to terminate, modify or add to its benefits and benefit plans at any time. 

If Frontier terminates your employment without Cause (as defined in the Equity Plan) and you deliver a general release of all
claims against Frontier and its affiliates in a form acceptable to Frontier that becomes effective and irrevocable within 60 days following such termination of employment, then you shall be entitled to the following: (i) you shall receive a
lump sum payment equal to the sum of your base salary at the time of termination (or two times such base salary if such termination occurs within twelve months after a Change in Control (as defined in the Equity Plan)), less applicable withholdings;
and (ii) Frontier will continue to provide the Flight Benefit until the first anniversary of your termination date (or the second anniversary of such date if such termination occurs within twelve months after a Change in Control). 

No amount deemed deferred compensation subject to Section 409A of the Internal Revenue Code of 1986, as amended (the
“Code”), shall be payable pursuant to this letter agreement unless your termination of employment constitutes a “separation from service” with Frontier within the meaning of Section 409A and the Department of Treasury
regulations and other guidance promulgated thereunder. For purposes of Section 409A of the Code (including, without limitation, 

  
 

 

					
	

	 		  	 Frontier Airlines, Inc.

7001 Tower Road

Denver, Colorado 80249

  

 
for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), your right to receive any installment payments under this letter agreement shall be
treated as a right to receive a series of separate payments and, accordingly, each such installment payment shall at all times be considered a separate and distinct payment. To the extent that any reimbursements or
in-kind benefits provided pursuant to this letter agreement are subject to the provisions of Section 409A of the Code, any such reimbursements payable to you pursuant to this letter agreement shall be paid to
you no later than December 31 of the year following the year in which the expense was incurred, the amount of expenses reimbursed or the amount of in-kind benefits provided in one year shall not affect
the amount eligible for reimbursement or the amount of in-kind benefits to which you are entitled, respectively, in any subsequent year, and your right to reimbursement or
in-kind benefits under this letter agreement will not be subject to liquidation or exchange for another benefit. If Frontier determines that you are a “specified employee” for purposes of Section
409A(a)(2)(B)(i) of the Code at the time of your separation from service, any amount deemed deferred compensation subject to Section 409A of the Code to which you are entitled under this letter agreement in connection with such separation from
service shall be delayed to the extent required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. 

Frontier requires that, as a full-time employee, you devote your full business time, attention, skill, and efforts to the
tasks and duties of your position as assigned by Frontier. If you wish to request consent to provide services (for any or no form of compensation) to any other person or business entity while employed by Frontier, please discuss that with
Frontier’s Chief Executive Officer in advance of accepting another position. 
 You acknowledge your ongoing
obligations under the Additional Terms attached hereto as Exhibit A, which by this reference are incorporated in this letter agreement. 

Notwithstanding any of the above, your employment with Frontier is “at will”. This means that it can be terminated
by you or by Frontier at any time, with or without advance notice, and for any or no particular reason or cause. It also means that your job duties, title and responsibility and reporting level, work schedule, compensation and benefits, as well as
Frontier’s personnel policies and procedures, may be changed with prospective effect, with or without notice, at any time in the sole discretion of Frontier. 

This letter agreement shall be interpreted and construed in accordance with Colorado law without regard to any conflicts of
laws principles. While other terms and conditions of your employment may change in the future, the at-will nature of your employment may not be changed, except in a subsequent written agreement, signed by you
and the Chief Executive Officer of Frontier. Any prior or contemporaneous representations (whether oral or written) not contained in this letter agreement, including the Prior Agreement, that may have been made to you will be expressly cancelled and
superseded by this letter agreement. 
 Please sign and date this letter agreement and return it to me by email at
howard.diamond@flyfrontier.com by close of business May 10, 2017 to indicate your acceptance of the terms in this letter agreement. If you accept this the terms of this letter agreement by 

  
 

 

					
	

	 		  	 Frontier Airlines, Inc.

7001 Tower Road

Denver, Colorado 80249

  

 
signing a counterpart and returning it to the undersigned as thus described, this letter agreement shall constitute the complete agreement between you and Frontier with respect to the terms and
conditions of your employment. 
 We look forward to continuing a productive and enjoyable work relationship. 

 

			
	 Sincerely,

	
	 FRONTIER AIRLINES, INC.

		
	 By:
	 	 /s/ Howard Diamond

		 	 Howard Diamond

  

	
	 Accepted by:

	
	 /s/ James Nides

	
	 Date: May 10, 2017

  
 

 

 

 
 Exhibit A 

Additional Terms 
 (a) Non-Competition/Non-Solicitation. You acknowledge and recognize the highly competitive nature of Frontier’s business, and further acknowledge and recognize that
Frontier has agreed to employ you in reliance on, among other things, your agreement to be bound by these additional terms. Accordingly, you agree as follows: 

(i) You shall not, while employed by Frontier or during the twelve month period following termination of such employment (or the
twenty-four month period following such termination in the event Frontier terminates your employment without Cause within twelve months after a Change in Control or your duties are substantially diminished within such twelve months and you resign
within such twelve months), directly or indirectly, (A) engage, participate or assist in any Competing Business (defined as any commercial passenger airline business which is certificated by any governmental authority to operate in any part of
North America, other than any commercial passenger airline business which is (i) based outside North America and (ii) does not include in its route network point to point flying within North America), (B) enter the employ of, or render any
services to, any person or entity engaged in any Competing Business, (C) acquire a financial interest in, or otherwise become actively involved with, any person or entity engaged in any Competing Business, whether as an individual, partner,
shareholder, officer, director, principal, agent, trustee or consultant. Nothing herein shall prohibit you from being a passive owner of not more than two percent (2%) of the outstanding equity interest in any entity that is publicly traded, so long
as you have no active participation in the business of such entity. 
 (ii) You agree that you shall not, while employed by Frontier or
during the twelve month period following termination of such employment (or the twenty-four month period following such termination in the event Frontier terminates your employment without Cause within twelve months after a Change in Control or your
duties are substantially diminished within such twelve months and you resign within such twelve months), directly or indirectly, either for yourself or any other person or entity, (A) recruit or otherwise solicit or induce any employee,
customer or supplier of Frontier to terminate its employment or arrangement with Frontier, or otherwise change its relationship with Frontier, or (B) hire, or cause to be hired, any individual who was employed by Frontier at any time during the
twelve (12)-month period immediately prior to the termination of your employment or who thereafter becomes employed by Frontier. 
 (iii) In
the event the terms of this exhibit shall be determined by any court of competent jurisdiction to be unenforceable by reason of its extending for too great a period of time or over too great a geographical area or by reason of its being too
extensive in any other respect, it will be interpreted to, and may be modified by a court of competent jurisdiction to, extend only over the maximum period of time for which it may be enforceable, over the maximum geographical area as to which it
may be enforceable, or to the maximum extent in all other respects as to which it may be enforceable, all as determined by such court in such action. 

  
 

 

 

 
  

 (iv) You understand that the restrictions set forth in this exhibit are intended to protect
Frontier’s established employee, customer and supplier relations, and the general goodwill of its business, and you agree that such restrictions are reasonable and appropriate for this purpose. 

(v) In the event you engage in conduct in violation of your covenants in this section (a), the applicable restricted period shall be extended
for a period of time equal to the time in which you engaged in activity prohibited by this section (a). 
 (b) Confidentiality. As used in this
exhibit, “Confidential Information” means information belonging to Frontier which is of value to Frontier in the course of conducting its business and the disclosure of which could result in a competitive or other disadvantage to Frontier.
Confidential information includes, without limitation, patient or other medical information, financials information, reports, forecasts, inventions, improvements and other intellectual property, trade secrets,
know-how, designs, processes or formulae, software, market or sales information or plans, customer lists, business plans and prospects and opportunities (such as possible acquisitions or dispositions of
businesses or facilities) which have been discussed or considered by the management of Frontier. Confidential information also includes information you develop in the course of your employment by Frontier, as well as other information to which you
may have access in connection with your employment. Confidential Information also includes the confidential information of others with which Frontier has a business relationship. Notwithstanding the foregoing, Confidential Information does not
include information in the public domain, unless due to breach of your duties under this exhibit. 
 (i) You understand and agree that your
employment creates a relationship of confidence and trust between you and Frontier with respect to all Confidential Information. At all times, both during your employment with Frontier and after its termination, you will keep in confidence and trust
all such Confidential Information, and will not use or disclose any such Confidential Information without the written consent of Frontier, except as may be necessary in the ordinary course of performing your duties to Frontier or as otherwise
required by law. 
 (ii) All documents, records, data, apparatus, equipment and other physical property, whether or not pertaining to
Confidential Information, which are furnished to you by Frontier or are produced by you in connection with your employment will be and remain the sole property of Frontier. You will return to Frontier all such materials and property as and when
requested by Frontier. In any event, you will return all such materials and property immediately upon termination of your employment for any reason, and will not retain copies thereof following such termination. 

(c) Non-Disparagement. Employee shall not make negative statements against the employer, its employees, or its
products/services. This non-disparagement provision does not affect or limit your right to communicate or file a charge with, or participate in any investigation or proceeding conducted by the EEOC, or any
other comparable federal, state or local agency.EX-10.11

 Exhibit 10.11 

FRONTIER GROUP HOLDINGS, INC. 

NON-EMPLOYEE DIRECTOR COMPENSATION PROGRAM 

Non-employee members of the board of directors (the “Board”) of
Frontier Group Holdings, Inc. (the “Company”) shall be eligible to receive cash and equity compensation as set forth in this Non-Employee Director Compensation Program (this
“Program”). The cash and equity compensation described in this Program shall be paid or be made, as applicable, automatically and without further action of the Board, to each member of the Board who is not an employee of the Company
or any parent or subsidiary of the Company (each, a “Non-Employee Director”) who may be eligible to receive such cash or equity compensation, unless such
Non-Employee Director declines the receipt of such cash or equity compensation by written notice to the Company. This Program shall remain in effect until it is revised or rescinded by further action of the
Board. This Program may be amended, modified or terminated by the Board at any time, without advance notice, in its sole discretion. The terms and conditions of this Program shall supersede any prior cash and/or equity compensation arrangements for
service as a member of the Board between the Company and any of its Non-Employee Directors. This Program shall become effective on the date of the pricing of the initial public offering of Company common stock
(the “Effective Date”). 
 1.    Cash Compensation. 

(a)    Annual Retainers.     Each
Non-Employee Director shall be eligible to receive an annual retainer of $75,000 for service on the Board. 

(b)    Additional Annual Retainers.     In addition, a Non-Employee Director shall receive the following annual retainers, as applicable: 

(i)    Chair of the Audit Committee.    A
Non-Employee Director serving as Chairperson of the Audit Committee shall receive an additional annual retainer of $17,000 for such service. 

(ii)    Chair of the Compensation Committee.     A Non-Employee Director serving as Chairperson of the Compensation Committee shall receive an additional annual retainer of $12,000 for such service. 

(iii)     Chair of the Nominating and Corporate Governance Committee.    A Non-Employee Director serving as Chairperson of the Nominating and Corporate Governance Committee shall receive an additional annual retainer of $12,000 for such service. 

(c)    Payment of Retainers. The annual retainers described in Sections 1(a) and 1(b) shall be
earned on a quarterly basis based on a calendar quarter and shall be paid by the Company in arrears not later than the fifteenth day following the end of each calendar quarter. In the event a Non-Employee
Director does not serve as a Non-Employee Director, or in the applicable positions described in Section 1(b), for an entire calendar quarter, the retainer paid to such
Non-Employee Director shall be prorated for the portion of such calendar quarter actually served as a Non-Employee Director, or in such position, as applicable. 

2.    Equity Compensation. Non-Employee Directors shall be
granted the equity awards described below. The awards described below shall be granted under and shall be subject to the terms and provisions of the Company’s 2017 Incentive Award Plan or any other applicable Company equity incentive plan
then-maintained by the Company (the “Equity Plan”) and shall be evidenced by the 

 
execution and delivery of award agreements, including attached exhibits, in substantially the forms previously approved by the Board. All applicable terms of the Equity Plan apply to this Program
as if fully set forth herein, and all grants of Restricted Stock Units hereby are subject in all respects to the terms of the Equity Plan. 

(a)    Initial Awards. Each person who is initially elected to the Board as a Non-Employee Director shall be granted, automatically and without necessity of any action by the Board or any committee thereof, on the date of such initial election Restricted Stock Units with respect to that
number of shares of Company common stock (the “Common Stock”) calculated by dividing (i) the product of (A) $100,000 multiplied times (B) a fraction, the numerator of which is the number of days remaining until either
(1) the first anniversary of the annual meeting of the Company’s stockholders that immediately preceded such Non-Employee Director’s election or appointment or (2) in the event such
election or appointment occurs prior to the first annual meeting of the Company’s stockholders that occurs after the Effective Date, the projected date of such first annual meeting and the denominator of which is 365, by (ii) the per share
Fair Market Value (as defined in the Equity Plan) of the Common Stock as of the date of appointment or election and rounding down to the nearest whole number. The awards described in this Section 2(a) shall be referred to as “Initial
Awards.” No Non-Employee Director shall be granted more than one Initial Award. 

(b)    Subsequent Awards. On the date of each annual meeting of the Company’s stockholders,
each Non-Employee Director who will continue to serve as a Non-Employee Director immediately following such annual meeting shall be granted, automatically and without
necessity of any action by the Board or any committee thereof, on the date of such annual meeting Restricted Stock Units with respect to that number of shares of Common Stock calculated by dividing (i) $100,000 by (ii) the per share Fair Market
Value of the Common Stock on the date of grant (“Subsequent Award”). For the avoidance of doubt, a Non-Employee Director elected for the first time to the Board at an annual meeting of the
Company’s stockholders shall only receive an Initial Award having a value of $100,000 in connection with such election, and shall not receive any Subsequent Award on the date of such meeting. 

(c)    Terms of Awards Granted to Non-Employee Directors

 (i)    Vesting. Each Initial Award and each Subsequent Award shall vest in full on the
earlier of (A) the first anniversary of the date of grant or (B) immediately prior to the next annual meeting of the Company’s stockholders after the date of grant, subject to the Non-Employee
Director continuing to provide services to the Company through such vesting date. 
 (ii)    Change
in Control Acceleration. All of a Non-Employee Director’s Initial Awards and Subsequent Awards, and any other equity-based awards outstanding and held by the
Non-Employee Director, shall vest and, if applicable, become exercisable and all restrictions thereon shall lapse with respect to one hundred percent (100%) of the shares subject thereto immediately prior to
the occurrence of a Change in Control (as defined in the Equity Plan), to the extent outstanding at such time. 

3.    Reimbursements. The Company shall reimburse each
Non-Employee Director for all reasonable, documented, out-of-pocket travel and other business expenses incurred by such Non-Employee Director in the performance of his or her duties to the Company in accordance with the Company’s applicable expense reimbursement policies and procedures as in effect from time to time. 

4.    Flight Benefits. Each Non-Employee Director shall be
eligible to receive flight benefits on Frontier Airlines in the form of a Universal Air Travel Plan, Inc. (“UATP”) card made available once per 12-month period that provides for travel solely
on Frontier Airlines in the amount of $5,500, for each 

  
 2 

 
Non-Employee Director other than the Chairman of the Board, and $13,750, for the Chairman of the Board, in each case, that must be used, if at all, within
12 months of the date the UATP card is issued. 
 * * * * * 

  
 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00272-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00272-of-00352.parquet"}]]