Document:

REFERENCE AGENCY AGREEMENT

      REFERENCE AGENCY AGREEMENT, dated as of March 25, 2002, between
Continental Airlines, Inc., a Delaware corporation (the "COMPANY"), Wilmington
Trust Company, a Delaware banking corporation ("WTC"), as Subordination Agent
under the Intercreditor Agreement referred to below, WTC, as Loan Trustee (as
defined in the Note Purchase Agreement referred to below), Wells Fargo Bank
Northwest, National Association, as Escrow Agent under the Escrow and Paying
Agent Agreement referred to below, and WTC, as reference agent hereunder (the
"REFERENCE AGENT").

                              W I T N E S S E T H:
                              - - - - - - - - - -

      WHEREAS, certain terms used herein have the defined meanings as provided
in Section 1 below;

      WHEREAS, concurrently with the execution and delivery of this Agreement,
the Company is entering into the Note Purchase Agreement, dated as of the date
hereof (the "NOTE PURCHASE AGREEMENT"), with WTC, as Pass Through Trustee under
each Pass Through Trust Agreements referred to therein, WTC, as Subordination
Agent under the Intercreditor Agreement referred to therein, Wells Fargo Bank
Northwest, National Association, a national banking association, as Escrow Agent
under the Escrow and Paying Agent Agreements referred to therein, and WTC, as
Paying Agent under the Escrow and Paying Agent Agreements referred to therein;

      WHEREAS, the Note Purchase Agreement contemplates the financing of the New
Aircraft through the issuance by the Company of Series G-1 Equipment Notes to
the Class G-1 Pass Through Trustee, Series H Equipment Notes to the Class H Pass
Through Trustee and certain other Equipment Notes as defined therein;

      WHEREAS, concurrently with the execution and delivery of this Agreement,
the Escrow Agent and the Depositary are entering into a Deposit Agreement with
respect to the Class G-1 Pass Through Trust, whereby the Escrow Agent agrees to
direct the Underwriters to make certain deposits referred to therein on the
Issuance Date and the Depositary agrees to pay interest on the Deposits to the
Paying Agent on behalf of the Escrow Agent for distribution to holders of the
escrow receipts to be affixed to each Class G-1 Certificate at a rate per annum
based on LIBOR, as determined pursuant to this Agreement;

      WHEREAS, the Company, the Underwriters and Credit Suisse First Boston, New
York Branch, as Depositary, have entered into the Underwriting Agreement, which
provides for the issuance of the Class G-1 Certificates;

      WHEREAS, the Company and the Initial Purchasers have entered into the
Certificate Purchase Agreement, which provides for the issuance of the Class H
Certificates; and

      WHEREAS, the Indentures to be entered into pursuant to the Note Purchase
Agreement with respect to the financing of each New Aircraft provides that the
Series G-1 Equipment Notes and the Series H Equipment Notes to be issued

<PAGE>

thereunder bear interest at a rate per annum based on LIBOR, as determined
pursuant to this Agreement.

      NOW, THEREFORE, in consideration of the premises and of the mutual
covenants and agreements contained herein, the parties hereto hereby agree as
follows:

      SECTION 1. DEFINITIONS. Unless otherwise defined herein, all capitalized
terms used but not defined herein have the meanings assigned to such terms in
the Note Purchase Agreement. The conventions of construction and usage set forth
in the Indenture are incorporated by reference herein. In addition, the
following terms shall have the meanings specified below:

      "INTEREST PERIOD" means (i) in the case of the first Interest Period, the
period commencing on (and including) the Issuance Date and ending on (but
excluding) the first Payment Date following the Issuance Date and (ii) in the
case of each subsequent Interest Period, the period commencing on (and
including) the last day of the immediately preceding Interest Period, and ending
on (but excluding) the next Payment Date.

      "INTEREST RATE DETERMINATION DATE" means, with respect to any Interest
Period, the second London Banking Day prior to the first day of such Interest
Period.

      "LIBOR" means the rate determined pursuant to Section 6(b).

      "LONDON BANKING DAY" means any day on which commercial banks are open for
general business (including dealings in foreign exchange and foreign currency
deposits) in London, England.

      "PAYMENT DATE" means each February 15, May 15, August 15 and November 15,
commencing on May 15, 2002, PROVIDED that if any such day is not a Business Day,
then the immediately succeeding Business Day.

      "REFERENCE BANKS" means Barclays Bank, JPMorgan Chase Bank and Deutsche
Bank (or, if any such bank is not at the relevant date a major bank in the
London interbank market, another major bank in the London interbank market in
lieu thereof selected by the Reference Agent in good faith and in a commercially
reasonable manner).

      "REPRESENTATIVE AMOUNT" means an amount that is representative for a
single transaction in the London interbank market at the relevant time.

      "TELERATE" means page 3750 on the Telerate Service (or such other page as
may replace that page on that service, or such other service as may be nominated
by the British Banker's Association for the purpose of displaying rates or
prices comparable to that).

      SECTION 2. APPOINTMENT OF REFERENCE AGENT. The Company hereby appoints WTC
as the Reference Agent, and WTC hereby accepts such appointment and agrees to
perform the duties and obligations of Reference Agent set forth in Section 6.

<PAGE>

      SECTION 3. STATUS OF REFERENCE AGENT. Any acts taken by the Reference
Agent under this Agreement, including the calculation of any LIBOR, shall be
deemed to have been taken by the Reference Agent solely in its capacity as an
agent acting on behalf of the Company and shall not create or imply any
obligation to, or any agency, fiduciary or trust relationship with, any of the
owners or holders of the Equipment Notes, Class G-1 Certificates (or Escrow
Receipt affixed thereto) or Class H Certificates.

      SECTION 4. REFERENCE AGENT FEES AND EXPENSES. In consideration of the
Reference Agent's performance of the services provided for under this Agreement,
the Company shall pay to the Reference Agent an annual fee set forth under a
separate agreement between the Company and WTC. In addition, the Company shall
reimburse the Reference Agent for all reasonable out-of-pocket expenses,
disbursements and advances (including reasonable legal fees and expenses)
incurred or made by the Reference Agent from time to time in connection with the
services rendered by it under this Agreement, except any expenses,
disbursements, or advances attributable to its negligence or wilful misconduct.

      SECTION 5. RIGHTS AND LIABILITIES OF REFERENCE AGENT. In the absence of
negligence or wilful misconduct on the part of the Reference Agent, its
directors, officers, employees and agents, such persons may conclusively rely,
as to the truth of the statements expressed in, and shall be fully protected and
shall incur no liability for, or in respect of, any action taken, omitted to be
taken, or suffered to be taken by it, in reliance upon, any written order,
instruction, notice, request, direction, statement, certificate, consent,
report, affidavit or other instrument, paper, document or communication,
reasonably believed by it in good faith to be genuine, from the Company and
conforming to the requirements of this Agreement. Any written order,
instruction, notice, request, direction, statement, certificate, consent,
report, affidavit or other instrument, paper, document or communication from the
Company or given by it and sent, delivered or directed to the Reference Agent
under, pursuant to, or as permitted by, any provision of this Agreement shall be
sufficient for purposes of this Agreement if such written order, instruction,
notice, request, direction, statement, certificate, consent, report, affidavit
or other instrument, paper, document or communication is in writing and signed
by any officer of the Company. The Reference Agent may consult with counsel
satisfactory to it and the advice (to be confirmed in writing) or opinion of
such counsel shall constitute full and complete authorization and protection of
the Reference Agent with respect to any action taken, omitted to be taken, or
suffered to be taken by it hereunder in good faith and in accordance with and in
reliance upon the advice to be confirmed in writing or opinion of such counsel.
The Reference Agent shall not be liable for any error resulting from use of or
reliance on a source or publication required to be used under Section 6 to the
extent such use of or reliance on such source or publication is contemplated by
Section 6.

      SECTION 6. DUTIES OF REFERENCE AGENT. (a) The duties and obligations of
the Reference Agent shall be determined solely by the express provisions of this
Agreement, and no implied covenants or obligations shall be read into this
Agreement against the Reference Agent. Subject to their duty to act without
negligence, neither the Reference Agent nor its directors, officers, employees
and agents guarantee the correctness or completeness of any data or other
information furnished hereunder.

<PAGE>

      (b) For the purpose of calculating the rate of interest payable on the
Series G-1 Equipment Notes and under the Deposit Agreement relating to the Class
G-1 Pass Through Trust (the "SERIES G-1 INTEREST RATE") and the rate of interest
payable on the Series H Equipment Notes (the "SERIES H INTEREST RATE"), "LIBOR"
for each Interest Period that commences after the Issuance Date (it being
understood that the Series G-1 Interest Rate and the Series H Interest Rate for
the Interest Period commencing on the Issuance Date shall be determined pursuant
to the Underwriting Agreement and Certificate Purchase Agreement, respectively)
shall mean the rate determined in accordance with the following provisions:

            (i) The Reference Agent will determine LIBOR for each such Interest
      Period as the rate for deposits in U.S. Dollars for a period of three
      months which appears on the Telerate Page 3750 as of 11:00 a.m., London
      time, on the Interest Rate Determination Date for such Interest Period.

            (ii) If the rate referred to in Section 6(b)(i) does not appear on
      the Telerate Page 3750, the Reference Agent will determine LIBOR on the
      basis of the rates at which deposits in U.S. Dollars are offered by the
      Reference Banks at approximately 11:00 a.m., London time, on the Interest
      Rate Determination Date for such Interest Period to prime banks in the
      London interbank market for a period of three months commencing on the
      first day of such Interest Period and in a Representative Amount. The
      Reference Agent will request the principal London office of each of the
      Reference Banks to provide a quotation of its rate. If at least two such
      quotations are provided, the rate for that Interest Period will be the
      arithmetic mean of the quotations. If fewer than two quotations are
      provided as requested, the rate for that Interest Period will be the
      arithmetic mean of the rates quoted by major banks in New York City,
      selected by the Reference Agent in good faith and in a commercially
      reasonable manner, at approximately 11:00 a.m., New York City time, on the
      first day of such Interest Period for loans in U.S. Dollars to leading
      European banks for a period of three months commencing on the first day of
      such Interest Period and in a Representative Amount, except that, if the
      banks so selected by the Reference Agent are not quoting as mentioned
      above, LIBOR shall be the floating rate of interest in effect for the last
      preceding Interest Period.

      (c) As soon as practicable after 11:00 a.m. (London time) on each Interest
Rate Determination Date, the Reference Agent will calculate the Class G-1
Interest Rate for such Interest Period, which shall be applicable to the Series
G-1 Equipment Notes, the Deposit Agreement with respect to the Class G-1 Pass
Through Trust and, accordingly, the Class G-1 Certificates for such Interest
Period, and the Class H Interest Rate for such Interest Period, which shall be
applicable to the Series H Equipment Notes, and, accordingly, the Class H
Certificates for such Interest Period. The Reference Agent's determination of
LIBOR, the Class G-1 Interest Rate and the Class H Interest Rate (in the absence
of negligence, wilful default, bad faith or manifest error) shall be conclusive
and binding upon all parties.

      (d) As promptly as is practicable after the determination thereof, the
Reference Agent shall give notice of the applicable LIBOR, the Class G-1
Interest Rate and the next Payment Date to the Company, the Subordination Agent,
the Escrow Agent, the Depositary, each Liquidity Provider, the Pass Through
Trustees and the Loan Trustees.

<PAGE>

      (e) As promptly as is practicable after the determination thereof, the
Reference Agent shall give notice of the applicable LIBOR, the Class H Interest
Rate and the next Payment Date to the Company, the Subordination Agent, the
Initial Purchaser of the Class H Certificates, the Pass Through Trustees and the
Loan Trustees.

      (f) The Reference Agent shall determine Deposit Break Amount if and when
required under the Note Purchase Agreement and Break Amount if and when required
under any Indenture.

      SECTION 7. AMENDMENT OF THE EQUIPMENT NOTES. The Company shall deliver to
the Reference Agent, at least three Business Days prior to the effective date of
any amendment of the interest rate terms of the Deposit Agreement with respect
to the Class G-1 Pass Through Trust, Series G-1 Equipment Notes, or Series H
Equipment Notes, written notice of such amendment describing the terms of such
amendment in reasonable detail, and a certification by the Company that such
amendment is in compliance with the terms of the Deposit Agreement with respect
to the Class G-1 Pass Through Trust or the Indenture (as applicable).

      SECTION 8. OWNERSHIP OF CERTIFICATES. The Reference Agent, its officers,
directors, employees and shareholders may become the owners of or acquire any
interest in any Certificates, with the same rights that it or they would have if
it were not the Reference Agent, and may engage or be interested in any
financial or other transaction with the Company as freely as if it were not the
Reference Agent.

      SECTION 9. TERM; TERMINATION, RESIGNATION OR REMOVAL OF REFERENCE AGENT.
(a) This Agreement shall have a noncancellable term commencing on the date
hereof and expiring on payment in full of the Series G-1 and Series H Equipment
Notes issued under the Indentures or, if earlier, termination of the Indentures.
During such term, this Agreement shall not be terminable by any party hereto
except as expressly provided in Section 9(b).

      (b) The Reference Agent may at any time resign by giving written notice to
the Company, the Subordination Agent, the Pass Through Trustees and the Loan
Trustees and, if prior to the termination of the Deposit Agreement with respect
to the Class G-1 Pass Through Trust, the Depositary and the Escrow Agent,
specifying therein the date on which its desired resignation shall become
effective; PROVIDED that such notice shall be given no less than 30 days prior
to said effective date unless the Reference Agent, the Company, the
Subordination Agent, the Pass Through Trustees and the Loan Trustees, and, if
prior to the termination of the Deposit Agreement with respect to the Class G-1
Pass Through Trust, the Depositary and the Escrow Agent, otherwise agree in
writing. The Company may remove the Reference Agent at any time by giving
written notice to the Reference Agent and to the holders of the Class G-1
Certificates and Class H Certificates and specifying the effective date of such
removal, which shall be at least 30 days after the date of notice; PROVIDED,
HOWEVER, that no resignation by or removal of the Reference Agent shall become
effective prior to the date of appointment by the Company, as provided in
Section 10, of a successor reference agent and the acceptance of such
appointment by such successor reference agent; and PROVIDED, FURTHER, that in
the event that an instrument of acceptance by a successor reference agent shall
not have been delivered pursuant to Section 10 within 90 days after the giving
of such notice of resignation or removal, the Reference Agent may petition any
court of competent jurisdiction for the appointment of a successor Reference
Agent. The provisions of Sections 5, 11 and 14 hereof shall remain in effect

<PAGE>

following termination of this Agreement or the earlier resignation or removal of
the Reference Agent.

      SECTION 10. APPOINTMENT OF SUCCESSOR REFERENCE AGENT. In the event of the
resignation by or removal of the Reference Agent pursuant to Section 9, the
Company shall promptly appoint a successor reference agent. Any successor
reference agent appointed by the Company following resignation by or removal of
the Reference Agent pursuant to the provisions of Section 9 shall execute and
deliver to the incumbent Reference Agent, the Company, the Subordination Agent,
the Pass Through Trustees, the Loan Trustees and, if prior to the termination of
the Deposit Agreement with respect to the Class G-1 Pass Through Trust, the
Depositary and the Escrow Agent an instrument accepting such appointment.
Thereupon, such successor reference agent shall, without any further act, deed
or conveyance, become vested with all the authority, rights, powers, immunities,
duties and obligations of the Reference Agent and with like effect as if
originally named as Reference Agent hereunder, and the incumbent Reference Agent
shall thereupon be obligated to transfer and deliver such relevant records or
copies thereof maintained by the Reference Agent in connection with the
performance of its obligations hereunder. The Company shall notify the Rating
Agencies of any resignation by or removal of the Reference Agent under Section 9
and of the appointment of and acceptance by any successor Reference Agent
pursuant to this Section 10.

      SECTION 11. INDEMNIFICATION. The Company shall indemnify and hold harmless
the Reference Agent, its directors, officers, employees and agents from and
against any and all actions, claims, damages, liabilities, judgments, losses,
costs, charges and expenses (including reasonable legal fees and expenses)
relating to or arising out of actions or omissions from actions in any capacity
hereunder, except actions, claims, damages, liabilities, judgments, losses,
costs, charges and expenses caused by the negligence or wilful misconduct of the
Reference Agent, its directors, officers, employees or agents. The Reference
Agent shall be indemnified and held harmless by the Company for any error
resulting from use of or reliance on a source or publication required to be used
under Section 6. The Reference Agent shall be indemnified and held harmless by
the Company for, or in respect of, any actions taken, omitted to be taken or
suffered to be taken in good faith by the Reference Agent in reliance upon (a)
advice to be confirmed in writing or opinion of counsel or (b) a written
instruction from the Company.

      SECTION 12. MERGER, CONSOLIDATION OR SALE OF BUSINESS BY REFERENCE AGENT.
Any corporation into which the Reference Agent may be merged or consolidated or
any corporation resulting from any merger or consolidation to which the
Reference Agent may be a party, or any corporation to which the Reference Agent
may sell or otherwise transfer all or substantially all of its assets and
corporation trust business, shall, to the extent permitted by applicable law,
become the Reference Agent under this Agreement without the execution or filing
of any paper or any further act by the parties hereto. The Reference Agent shall
give notice in writing to the Company, the Subordination Agent, the Pass Through
Trustees, the Loan Trustees and, if prior to the termination of the Deposit
Agreement with respect to the Class G-1 Pass Through Trust, the Depositary and
the Escrow Agent of any such merger, consolidation or sale.

      SECTION 13. MISCELLANEOUS. (a) If there should develop any conflict
between the Reference Agent and any other Person relating to the rights or
obligations of the Reference Agent in connection with calculation of the Class

<PAGE>

G-1 Interest Rate or the Class H Interest Rate, the terms of this Agreement
shall govern such rights and obligations.

      (b) The Reference Agent agrees to cooperate with the Company and its
agents, employees, directors and officers, including by providing such
information as may reasonably be requested to permit the Company or such agents,
employees, directors and officers to monitor the Reference Agent's compliance
with its obligations under this Agreement.

      (c) The Reference Agent shall not assign or delegate or otherwise
subcontract this Agreement or all or any part of its rights or obligations
hereunder to any Person without the prior written consent of the Company.

      (d) THIS AGREEMENT SHALL IN ALL RESPECTS BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, INCLUDING ALL MATTERS OF
CONSTRUCTION, VALIDITY AND PERFORMANCE.

      (e) This Agreement may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so
executed shall be deemed to be an original and all of which taken together shall
constitute one and the same agreement. Delivery of an executed counterpart of a
signature page to this Agreement by telecopier shall be effective as delivery of
a manually executed counterpart of this Agreement.

<PAGE>

      IN WITNESS WHEREOF, this Agreement has been entered into as of the date
first set forth above.

                                               CONTINENTAL AIRLINES, INC.

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

                                               WILMINGTON TRUST COMPANY, as
                                               Reference Agent

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

                                               WILMINGTON TRUST COMPANY, as
                                               Subordination Agent

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

                                               WELLS FARGO BANK NORTHWEST,
                                               NATIONAL ASSOCIATION, as
                                               Escrow Agent

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

<PAGE>

                                               WILMINGTON TRUST COMPANY, as
                                               Loan Trustee

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

Certificate
No. 1

            Unless this certificate is presented by an authorized representative
of The Depository Trust Company, a New York corporation ("DTC"), to Issuer or
its agent for registration of transfer, exchange or payment, and any certificate
issued is registered in the name of Cede & Co. or in such other name as is
requested by an authorized representative of DTC (and any payment is made to
Cede & Co. or to such other entity as is requested by an authorized
representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch the registered owner hereof,
Cede & Co., has an interest herein.

               CONTINENTAL AIRLINES PASS THROUGH TRUST 2002-1G-1-O

 LIBOR + 0.45% Continental Airlines Pass Through Certificate, Series 2002-1G-1-O
                          Issuance Date: March 25, 2002

                     Final Maturity Date: February 15, 2013

     Evidencing A Fractional Undivided Interest In The Continental Airlines
     Pass Through Trust 2002-1G-1-O, The Property Of Which Shall Include
     Certain Equipment Notes Each Secured By An Aircraft Owned By
     Continental Airlines, Inc.

                   $134,644,000 Fractional Undivided Interest
         representing 0.0007426993% of the Trust per $1,000 face amount

            THIS CERTIFIES THAT CEDE& CO., for value received, is the registered
owner of a $134,644,000 (ONE HUNDRED AND THIRTY-FOUR MILLION SIX HUNDRED AND
FORTY-FOUR THOUSAND DOLLARS) Fractional Undivided Interest in the Continental
Airlines Pass Through Trust 2002-1G-1-O (the "TRUST") created by Wilmington
Trust Company, as trustee (the "TRUSTEE"), pursuant to a Pass Through Trust
Agreement, dated as of September 25, 1997 (the "BASIC AGREEMENT"), between the
Trustee and Continental Airlines, Inc., a Delaware corporation (the "COMPANY"),
as supplemented by Trust Supplement No. 2002-1G-1-O thereto, dated as of March
25, 2002 (the "TRUST SUPPLEMENT" and, together with the Basic Agreement, the
"AGREEMENT"), between the Trustee and the Company, a summary of certain of the
pertinent provisions of which is set forth below. To the extent not otherwise
defined herein, the capitalized terms used herein have the meanings assigned to
them in the Agreement. This Certificate is one of the duly authorized
Certificates designated as "LIBOR + 0.45% Continental Airlines Pass Through
Certificates, Series 2002-1G-1-O" (herein called the "CERTIFICATES"). This

<PAGE>

Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement. By virtue of its acceptance hereof, the holder of
this Certificate (the "CERTIFICATEHOLDER" and, together with all other holders
of Certificates issued by the Trust, the "CERTIFICATEHOLDERS") assents to and
agrees to be bound by the provisions of the Agreement and the Intercreditor
Agreement. The property of the Trust includes certain Equipment Notes and all
rights of the Trust to receive payments under the Intercreditor Agreement, the
Policy, the Above-Cap Liquidity Facility and the Primary Liquidity Facility (the
"TRUST PROPERTY"). Each issue of the Equipment Notes is secured by, among other
things, a security interest in an Aircraft owned by the Company.

            The Certificates represent Fractional Undivided Interests in the
Trust and the Trust Property and have no rights, benefits or interest in respect
of any other separate trust established pursuant to the terms of the Basic
Agreement for any other series of certificates issued pursuant thereto.

            Subject to and in accordance with the terms of the Agreement and the
Intercreditor Agreement, from funds then available to the Trustee, there will be
distributed on February 15, May 15, August 15 and November 15 of each year (a
"REGULAR DISTRIBUTION DATE") commencing May 15, 2002, to the Person in whose
name this Certificate is registered at the close of business on the 15th day
preceding the Regular Distribution Date, an amount in respect of the Scheduled
Payments on the Equipment Notes due on such Regular Distribution Date, the
receipt of which has been confirmed by the Trustee, equal to the product of the
percentage interest in the Trust evidenced by this Certificate and an amount
equal to the sum of such Scheduled Payments. Subject to and in accordance with
the terms of the Agreement and the Intercreditor Agreement, in the event that
Special Payments on the Equipment Notes are received by the Trustee, from funds
then available to the Trustee, there shall be distributed on the applicable
Special Distribution Date, to the Person in whose name this Certificate is
registered at the close of business on the 15th day preceding the Special
Distribution Date, an amount in respect of such Special Payments on the
Equipment Notes, the receipt of which has been confirmed by the Trustee, equal
to the product of the percentage interest in the Trust evidenced by this
Certificate and an amount equal to the sum of such Special Payments so received.
If a Regular Distribution Date or Special Distribution Date is not a Business
Day, distribution shall be made on the immediately following Business Day with
the same force and effect as if made on such Regular Distribution Date or
Special Distribution Date and interest shall accrue during the intervening
period. The Trustee shall mail notice of each Special Payment and the Special
Distribution Date therefor to the Certificateholder of this Certificate.

            Distributions on this Certificate will be made by the Trustee by
check mailed to the Person entitled thereto, without presentation or surrender
of this Certificate or the making of any notation hereon, except that with
respect to Certificates registered on the Record Date in the name of a Clearing
Agency (or its nominee), such distribution shall be made by wire transfer.
Except as otherwise provided in the Agreement and notwithstanding the above, the
final distribution on this Certificate will be made after notice mailed by the
Trustee of the pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency of the Trustee specified
in such notice.

<PAGE>

            The Certificates do not represent a direct obligation of, or an
obligation guaranteed by, or an interest in, the Company or the Trustee or any
affiliate thereof. The Certificates are limited in right of payment, all as more
specifically set forth on the face hereof and in the Agreement. All payments or
distributions made to Certificateholders under the Agreement shall be made only
from the Trust Property and only to the extent that the Trustee shall have
sufficient income or proceeds from the Trust Property to make such payments in
accordance with the terms of the Agreement. Each Certificateholder of this
Certificate, by its acceptance hereof, agrees that it will look solely to the
income and proceeds from the Trust Property to the extent available for
distribution to such Certificateholder as provided in the Agreement. This
Certificate does not purport to summarize the Agreement and reference is made to
the Agreement for information with respect to the interests, rights, benefits,
obligations, privileges, and duties evidenced hereby. A copy of the Agreement
may be examined during normal business hours at the principal office of the
Trustee, and at such other places, if any, designated by the Trustee, by any
Certificateholder upon request.

            The Agreement permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Certificateholders under the Agreement at any time
by the Company and the Trustee with the consent of the Certificateholders
holding Certificates evidencing Fractional Undivided Interests aggregating not
less than a majority in interest in the Trust. Any such consent by the
Certificateholder of this Certificate shall be conclusive and binding on such
Certificateholder and upon all future Certificateholders of this Certificate and
of any Certificate issued upon the transfer hereof or in exchange hereof or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
limited circumstances, without the consent of the Certificateholders of any of
the Certificates.

            As provided in the Agreement and subject to certain limitations set
forth therein, the transfer of this Certificate is registrable in the Register
upon surrender of this Certificate for registration of transfer at the offices
or agencies maintained by the Trustee in its capacity as Registrar, or by any
successor Registrar, duly endorsed or accompanied by a written instrument of
transfer in form satisfactory to the Trustee and the Registrar, duly executed by
the Certificateholder hereof or such Certificateholder's attorney duly
authorized in writing, and thereupon one or more new Certificates of authorized
denominations evidencing the same aggregate Fractional Undivided Interest in the
Trust will be issued to the designated transferee or transferees.

            Under certain circumstances set forth in Section 7.01 of the Trust
Supplement, all of the Trustee's right, title and interest to the Trust Property
may be assigned, transferred and delivered to the Related Trustee of the Related
Trust pursuant to the Assignment and Assumption Agreement. Upon the
effectiveness of such Assignment and Assumption Agreement (the "TRANSFER"), the
Trust shall be terminated, the Certificateholders shall receive beneficial
interests in the Related Trust in exchange for their interests in the Trust
equal to their respective beneficial interests in the Trust, the Certificates
representing Fractional Undivided Interests in the Trust shall be deemed for all
purposes of the Agreement and the Related Pass Through Trust Agreement to be
certificates representing the same fractional undivided interests in the Related
Trust and its trust property. Each Certificateholder, by its acceptance of this

<PAGE>

Certificate or a beneficial interest herein, agrees to be bound by the
Assignment and Assumption Agreement and subject to the terms of the Related Pass
Through Trust Agreement as a Certificateholder thereunder. From and after the
Transfer, unless and to the extent the context otherwise requires, references
herein to the Trust, the Agreement and the Trustee shall constitute references
to the Related Trust, the Related Pass Through Trust Agreement and trustee of
the Related Trust, respectively.

            The Certificates are issuable only as registered Certificates
without coupons in minimum denominations of $1,000 Fractional Undivided Interest
and integral multiples thereof, except that one Certificate may be issued in a
different denomination. As provided in the Agreement and subject to certain
limitations therein set forth, the Certificates are exchangeable for new
Certificates of authorized denominations evidencing the same aggregate
Fractional Undivided Interest in the Trust, as requested by the
Certificateholder surrendering the same.

            No service charge will be made for any such registration of transfer
or exchange, but the Trustee shall require payment of a sum sufficient to cover
any tax or governmental charge payable in connection therewith.

            Each Certificateholder and Investor, by its acceptance of this
Certificate or a beneficial interest herein, agrees to treat the Trust as a
grantor trust for all U.S. federal, state and local income tax purposes.

            The Trustee, the Registrar, and any agent of the Trustee or the
Registrar may treat the person in whose name this Certificate is registered as
the owner hereof for all purposes, and neither the Trustee, the Registrar, nor
any such agent shall be affected by any notice to the contrary.

            The obligations and responsibilities created by the Agreement and
the Trust created thereby shall terminate upon the distribution to
Certificateholders of all amounts required to be distributed to them pursuant to
the Agreement and the disposition of all property held as part of the Trust
Property.

            Any Person acquiring or accepting this Certificate or an interest
herein will, by such acquisition or acceptance, be deemed to have represented
and warranted to and for the benefit of the Company that either: (i) the assets
of an employee benefit plan subject to Title I of the Employee Retirement Income
Security Act of 1974, as amended ("ERISA"), or of a plan subject to Section 4975
of the Internal Revenue Code of 1986, as amended (the "CODE"), have not been
used to purchase this Certificate or an interest herein or (ii) the purchase and
holding of this Certificate or an interest herein are exempt from the prohibited
transaction restrictions of ERISA and the Code pursuant to one or more
prohibited transaction statutory or administrative exemptions.

            THE AGREEMENT AND, UNTIL THE TRANSFER, THIS CERTIFICATE SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE
AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE
DETERMINED IN ACCORDANCE WITH SUCH LAWS. THE RELATED PASS THROUGH TRUST

<PAGE>

AGREEMENT AND, FROM AND AFTER THE TRANSFER, THIS CERTIFICATE SHALL BE GOVERNED
AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN
ACCORDANCE WITH SUCH LAWS.

            Unless the certificate of authentication hereon has been executed by
the Trustee, by manual signature, this Certificate shall not be entitled to any
benefit under the Agreement or be valid for any purpose.

<PAGE>

            IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed.

                                        CONTINENTAL AIRLINES PASS THROUGH
                                        TRUST 2002-1G-1-O

                                        By:  WILMINGTON TRUST COMPANY,
                                             as Trustee

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

<PAGE>

                     TRUSTEE'S CERTIFICATE OF AUTHENTICATION

            This is one of the Certificates referred to in the within-mentioned
Agreement.

                                        WILMINGTON TRUST COMPANY,
                                             as Trustee

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

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00037-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00037-of-00352.parquet"}]]