Document:

fexhibit1014a.htm

    
      

    

    Exhibit
10.14(a)

    

    PROFIT
BASED RSU AWARD NOTICE

    to
[Name]

    

    Pursuant
to the Continental Airlines, Inc.

    Long
Term Incentive and RSU Program

    

    Performance
Period January 1, 20xx to December 31, 20xx

    

    This
document constitutes your formal Award Notice with respect to a Profit Based RSU
Award as a Participant under the Continental Airlines, Inc. Long Term Incentive
and RSU Program (as amended from time to time, the “Program”) adopted under the
Continental Airlines, Inc.  Incentive Plan 2010 (as amended from time
to time, the “Incentive Plan 2010”).  This Award Notice evidences your
receipt of a Profit Based RSU Award under the Program with respect to the Profit
Based RSU Performance Period commencing on January 1, 20xx and ending on
December 31, 20xx (the “Performance Period”), subject to the terms of the
Program and the Incentive Plan 2010.  [The Program, your participation
in the Program and any payment under the Program are subject to, and contingent
upon, approval of the Incentive Plan 2010 by the stockholders of the Company at
the Company’s 2010 annual meeting of stockholders.]

    

    The Human
Resources Committee of the Board of Directors of the Company (the “Committee”)
has established certain performance goals for purposes of Profit Based RSU
Awards under the Program.  The Committee has established the following
terms and performance goals with respect to your Profit Based RSU
Award:

    

    (a)           Number of RSUs. The number of
RSUs subject to this Profit Based RSU Award as of the date of grant is
_____.

    

    (b)           
Performance Target and Cash
Hurdle.  The Performance Target applicable to this Profit Based
RSU Award is satisfied when a Cumulative Profit Sharing Pool Target is achieved
for a particular Fiscal Year.  The Cumulative Profit Sharing Pool
Target Level(s) applicable to this Profit Based RSU Award are as
follows:

    

    [Level
One                                                      $__________
(*)]

    

    [* The Committee shall establish the
Cumulative Profit Sharing Pool Target Level(s) in accordance with the terms of
the Program at the time of the Award.]

    

    The Cumulative Profit Sharing Pool
Target Level that shall be deemed to have been achieved upon a Change in Control
for purposes of Section 6.4(b) of the Program is Level ____ for this Profit
Based RSU Award.

    

    The Cash Hurdle applicable to this
Profit Based RSU Award is $___ billion.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (c)           Payout Structure. The Payout
Structure applicable to this Profit Based RSU Award is as follows:

    

    
      	
              Cumulative
      Profit Sharing Pool

              Target Level
      Achieved

            	
              Profit
      Based RSU Payment Percentage (which

              is
      the percentage of RSUs for which

              payments may be
      made)

            
	
              [Level
      One]

            	
              [X%(**)]

            

    

    

    [** The Committee shall determine the
Profit Based RSU Payment Percentage applicable to each Cumulative Profit Sharing
Pool Target Level achieved, and whether Profit Based RSU Payment Percentages
will be interpolated above Level One, in accordance with the terms of the
Program at the time of the Award.]

    

    (d)           Award
Payments.  Payments with respect to achieving a Performance
Target will be made in three installments on the first day of the 3rd month,
15th month and 27th month following the end of the Fiscal Year in which the
Performance Target was achieved, subject to achievement of the Cash
Hurdle.  The Payment Amount payable on such dates with respect to the
achievement of a Performance Target will be equal to one third of the number of
RSUs subject to this Profit Based RSU Award multiplied by the applicable Profit
Based RSU Payment Percentage (determined based on the Cumulative Profit Sharing
Pool Target Level achieved) multiplied by the Market Value per Share on the
payment date (the average closing sales price of a share of Company Stock over
the 20-consecutive Trading Days immediately preceding such payment date or, in
the event of a Change in Control, immediately preceding the date of the Change
in Control).  [Notwithstanding the foregoing, in no event will the
aggregate payments under the Program with respect to an RSU subject to this
Profit Based RSU Award exceed an amount equal to $___ (the “Maximum Aggregate
Payment Amount,” which amount is subject to adjustment as provided in the
Program).***] [*** The Maximum Aggregate Payment Amount will be included if
established by the Committee in accordance with the terms of the Program at the
time of the Award.]  If the Company does not achieve the Cash Hurdle
applicable to a payment date, the payment will be deferred to the next payment
date (March 1st of the following year, subject to a limit on the number of years
payments may be carried forward).Receipt of a Payment Amount is also conditioned
on your continuous employment with the Company or its subsidiaries through the
applicable payment date (with limited exceptions).  A Payment Amount
may be pro-rated as provided in the Program under certain
circumstances.

    

    (e)           General.  Capitalized
terms used in this Award Notice are defined in the Program. The Program and the
Incentive Plan 2010 are hereby incorporated into this Award Notice by
reference.  If you have any questions, or wish to obtain a copy of the
Program or the Incentive Plan 2010, please contact [_________].

    

    CONTINENTAL
AIRLINES, INC.

    

    

    By:           

    [Name]fexhibit1014b.htm

    
      

    

    Exhibit10.14(b)

     

    LTIP
AWARD NOTICE

     

    to
[Name]

     

    

     

    Pursuant
to the Continental Airlines, Inc.

     

    Long
Term Incentive and RSU Program

     

    Performance
Period January 1, 20xx to December 31, 20xx

     

    This
document constitutes your formal Award Notice with respect to an LTIP Award as a
Participant under the Continental Airlines, Inc. Long Term Incentive and RSU
Program (as amended from time to time, the “Program”) adopted under the
Continental Airlines, Inc. Incentive Plan 2010 (as amended from time to time,
the “Incentive Plan 2010”).  This Award Notice evidences your receipt
of an LTIP Award under the Program with respect to the LTIP Performance Period
commencing on January 1, 20xx and ending on December 31, 20xx (the “Performance
Period”), subject to the terms of the Program and the Incentive Plan
2010.  [The Program, your participation in the Program and any payment
under the Program are subject to, and contingent upon, approval of the Incentive
Plan 2010 by the stockholders of the Company at the Company’s 2010 annual
meeting of stockholders.]

    

    The Human
Resources Committee of the Board of Directors of the Company (the “Committee”)
has established certain performance goals for purposes of LTIP Awards under the
Program.  The performance goals with respect to the Performance Period
relate to (1) the EBITDAR Margin achieved by the Company as compared to the
Entry EBITDAR Margin and (2) the Company’s achievement of the Cash
Hurdle.  EBITDAR Margin (which is more specifically defined in the
Program) generally means the cumulative EBITDAR achieved for the Performance
Period by the Company divided by the Company’s cumulative revenues over the
Performance Period.  The Entry EBITDAR Margin (which is also more
specifically defined in the Program) generally means the cumulative EBITDAR of
all companies in the Industry Group (currently
[__________________________________________]) for the Performance Period divided
by all such companies’ cumulative revenues over such period.  The Cash
Hurdle is achieved if the Company’s total unrestricted cash, cash equivalents
and short-term investments at the end of the Performance Period is equal to or
greater than a target amount set by the Committee.

    

    The
Committee has established the following performance goals for the Performance
Period:  (1) Target EBITDAR Margin equal to Entry EBITDAR Margin plus
___ Basis Points; (2) Stretch EBITDAR Margin equal to Target EBITDAR Margin plus
___ Basis Points; and (3) a Cash Hurdle of $___ billion.

    

    If the
Company’s EBITDAR Margin is at least equal to the Entry EBITDAR Margin for the
Performance Period and the Cash Hurdle is achieved, the Payment Amount with
respect to this LTIP Award will be (A) your Payout Percentage times (B) your Base
Amount.

    

    Payout Percentage.
Based on your position at ___________, 20xx, your Payout Percentage is equal to
__% (representing the entry level payout percentage), plus (1) an
additional __% for each Basis Point by which the Company’s EBITDAR Margin with
respect to the Performance Period exceeds the Entry EBITDAR Margin with respect
to such period, up to and including the Target EBITDAR Margin with respect to
the Performance Period (representing a target level payout percentage of __%),
and (2) an additional __% for each Basis Point by which the Company’s EBITDAR
Margin with respect to the Performance Period exceeds the Target EBITDAR Margin
with respect to such period, up to and including the Stretch EBITDAR Margin with
respect to the Performance Period (representing a stretch level payout
percentage of __%).

    

    Base Amount. Your
Base Amount is equal to your base annual salary plus a deemed bonus which, based
on your position at ___________, 20xx, is ___% of your base annual
salary.

    

    The
Payment Amount received with respect to this LTIP Award will be based on your
Payout Percentage and Base Amount determined as of the earlier of the last day
of the Performance Period, the date of your death, Disability or Retirement, or
the day immediately preceding the date upon which you suffer a Qualifying Event
on or after the occurrence of a Change in Control, and so may differ from the
numbers set forth in this Award Notice.

    

    Receipt
of a Payment Amount is also conditioned on your continuous employment with the
Company or its subsidiaries until the last day of the Performance Period (with
limited exceptions, as described above).  Upon the occurrence of a
Change in Control, performance targets with respect to LTIP Awards under the
Program are deemed satisfied at the “Stretch” performance level. A Payment
Amount may be pro-rated as provided in the Program (for example, if you become a
participant in the Program after January 1, 20xx, or if your employment
terminates under certain circumstances prior to the last day of the Performance
Period).

    

    Capitalized
terms used in this Award Notice are defined in the Program.  The
Program and the Incentive Plan 2010 are hereby incorporated into this Award
Notice by reference.  If you have any questions, or wish to obtain a
copy of the Program or the Incentive Plan 2010, please contact
________.

    

    CONTINENTAL
AIRLINES, INC.

    

    

    

    By:           

    [Name]

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