Document:

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                                                                    EXHIBIT 10.8

                          FORM OF BILL OF CONTRIBUTION,
                       ASSIGNMENT AND ASSUMPTION AGREEMENT

                                     Between

                              TRAVELOCITY.COM INC.

                                  ("Assignor"),

                                       and

                               TRAVELOCITY.COM LP

                                  ("Assignee")

                             Dated ________ __, 2000

<PAGE>   2

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                           Page
                                                                           ----
<S>                                                                        <C>
1.  Definitions..............................................................2
2.  Contribution of Assets...................................................2
3.  Third Party Consents.....................................................3
4.  Transferred Obligations..................................................3
5.  Power of Attorney........................................................3
6.  Further Assurances.......................................................3
7.  Disclaimer of Warranties and Liabilities.................................4
8.  Effectiveness of Agreement...............................................5
9.  Submission to Jurisdiction...............................................5
10. Entire Agreement; Survival...............................................5
11. Amendments; Waiver.......................................................5
12. Binding Nature; Assignment...............................................6
13. Third Party Beneficiaries................................................6
14. Approvals and Similar Actions............................................6
15. Notices..................................................................6
16. Construction Rules; Counterparts.........................................7
17. Governing Law............................................................7
18. Enforceability; Severability.............................................7
19. Headings.................................................................7
</TABLE>

Appendix A                 Glossary

                                     - i -
<PAGE>   3

            BILL OF CONTRIBUTION, ASSIGNMENT AND ASSUMPTION AGREEMENT

         BILL OF CONTRIBUTION, ASSIGNMENT AND ASSUMPTION AGREEMENT, dated as of
_____ __, 2000, between TRAVELOCITY.COM INC., a Delaware corporation (together
with its successors and assigns, "Assignor"), and TRAVELOCITY.COM LP, a Delaware
limited partnership (together with its successors and assigns, "Assignee").

                              W I T N E S S E T H:

         WHEREAS, on October __, 1999, Sabre Inc. ("Sabre"), Travelocity
Holdings, Inc., Assignor and Preview Travel, Inc., a Delaware corporation
("Preview"), entered into an Agreement and Plan of Merger (the "Merger
Agreement") which provided for, among other things, (i) the merger of Preview
into Assignor (the "Merger"), (ii) the transfer of Sabre's business known as the
"Travelocity business" to Assignee to be effected by Sabre or its subsidiaries
or affiliates immediately prior to the effective time of the Merger, and (iii)
the transfer of the Preview business to Assignee to be effected by the surviving
corporation immediately after the effective time of the Merger;

         WHEREAS, Assignor is the surviving corporation of the Merger;

         WHEREAS, on September 30, 1999, certain of the partners of Assignee
entered into an Agreement of Limited Partnership of Assignee (the "Original
Partnership Agreement") and formed Assignee as a limited partnership by filing a
certificate of limited partnership with the Secretary of State of Delaware and
immediately prior to the effective time of the Merger amended the Original
Partnership Agreement to reflect the capital contribution made by Sabre and its
subsidiaries and affiliates to Assignee and the issuance of partnership units in
Assignee in respect of those contributions;

         WHEREAS, as provided in the Merger Agreement, Assignor wishes to
contribute all of its assets and contractual rights to Assignee and to transfer
to Assignee all of its liabilities and obligations, and Assignee wishes to
acquire those assets and contractual rights and to assume those liabilities and
obligations, as more particularly set forth herein;

         WHEREAS, in order to reflect the capital contribution made pursuant to
this Agreement and the issuance of additional partnership units in Assignee to
Assignor in respect of that contribution and to set forth the terms and
conditions which will govern the relative rights and obligations of the partners
of Assignee, the original partners of Assignee, Assignor and Travelocity.com LP
Sub Inc. are entering into an Amended and Restated Agreement of Limited
Partnership simultaneous with the execution of this Agreement.

         NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

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<PAGE>   4

         1. DEFINITIONS. Whenever used in this Agreement, the capitalized terms
listed below shall have the following meanings:

         "AGREEMENT" shall mean this Bill of Contribution, Assignment and
Assumption Agreement, dated as of _________ ___, 2000, between Assignor and
Assignee.

         "ASSIGNEE" shall have the meaning specified in the preamble to this
Agreement.

         "ASSIGNMENT EFFECTIVE DATE" shall mean ______ __, 2000.

         "ASSIGNOR" shall have the meaning specified in the preamble to this
Agreement.

         "CONTRIBUTED ASSETS" shall mean the assets, properties and rights
conveyed pursuant to Section 2.

         "DISPUTE" shall mean any dispute, claim or controversy of any kind or
nature arising under, in connection with or related in any way to, this
Agreement and any related agreements between the Parties including, without
limitation, any future question as to whether a particular asset was a
Contributed Asset under this Agreement.

         "MERGER" shall have the meaning specified in the recitals to this
Agreement.

         "PARTY" shall mean each of the signatories to this Agreement and their
successors and permitted assigns.

         "PREVIEW" shall have the meaning specified in the recitals to this
Agreement.

         "PREVIEW BUSINESS" shall have the meaning specified in the recitals to
this Agreement.

         "TRANSFERRED OBLIGATIONS" shall have the meaning specified in Section
4.

         "TRAVELOCITY.COM SUB" shall have the meaning specified in the preamble
to this Agreement.

         "UNITS" shall mean partnership units in the Assignee.

Capitalized terms used in this Agreement but not defined above have the meanings
ascribed thereto in the Glossary attached as APPENDIX A.

         2. CONTRIBUTION OF ASSETS. Except as otherwise set forth in Section 3,
Assignor, as a contribution to capital and in exchange for the issuance to
Assignor of _____ Units, hereby contributes, grants, conveys, transfers,
assigns, sets over and delivers, as of the Assignment Effective Date, to
Assignee the entire right, title and interest of Assignor in and to all of its
assets, properties and rights.

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         3. THIRD PARTY CONSENTS. Notwithstanding the provisions of Section 2,
this Agreement shall not constitute an assignment or transfer to Assignee of any
interest in, or right or obligation under, any contract, lease, license or other
agreement, or title to any asset or property, if an assignment or transfer, or
an attempt to make such an assignment or transfer, without the consent of any
party other than Assignor or its Affiliates would constitute a breach or
violation thereof, unless and until such consent has been obtained. Assignor
hereby agrees to use all commercially reasonable efforts to obtain any such
consent, and upon the receipt of such consent, such interest, right or
obligation shall automatically be and be deemed to have been contributed,
transferred and assigned to, or assumed by, Assignee as of the Assignment
Effective Date. Prior to the receipt of such consent, Assignor shall use all
commercially reasonable efforts to give to Assignee all of the economic,
operational and other benefits of such interest or right; provided, however,
that Assignee shall pay or satisfy the corresponding Transferred Obligations
(assuming, for purposes of this proviso, that the asset or property had been
transferred) for the continued enjoyment of such benefit.

         4. TRANSFERRED OBLIGATIONS. Assignee hereby consents to be bound by the
terms of any and all contracts (to the same extent as the Assignor was so bound)
and assumes and agrees to pay, satisfy, honor, perform and discharge, as and
when due, and (where applicable) otherwise in accordance with the contracts,
from the Assignment Effective Date, all liabilities, obligations, debts,
contracts and commitments of any kind, character or description of Assignor
primarily relating to, or arising under or in respect of, the Contributed
Assets, whether absolute, accrued, liquidated, unliquidated, contingent,
executory or otherwise arising, whether before or after the Assignment Effective
Date (collectively, the "TRANSFERRED OBLIGATIONS").

         5. POWER OF ATTORNEY. Assignor hereby constitutes and appoints Assignee
the true and lawful attorney of Assignor with full power of substitution, in the
name of Assignor or otherwise, and on behalf and for the benefit of Assignee, to
demand and receive from time to time any and all Contributed Assets; to give
receipts, releases and acquittances for or in respect of the same or any part
thereof; to collect, for the account of Assignee, all receivables and other
items transferred to Assignee as provided herein, and to endorse with the name
of Assignor any check received on account of any such receivables or any other
item; from time to time to institute and prosecute in the name of Assignor (upon
written notice to Assignor) or otherwise any and all proceedings at law, in
equity or otherwise, which Assignee may deem proper to collect, assert or
enforce any claim, right, title, debt or account hereby assigned and transferred
or intended so to be; and to take any action otherwise necessary or desirable to
effect the transfer to Assignee of full legal title in and to, and beneficial
ownership of, the Contributed Assets. Assignor hereby declares that the
foregoing powers are coupled with an interest and shall not be revocable by
Assignor in any manner or for any reason.

         6. FURTHER ASSURANCES. At any time and from time to time after the
Assignment Effective Date:

                  (a) at the request of Assignee and without further
consideration, Assignor will execute and deliver such further assignments,
instruments of transfer, bills of sale, bills of contribution, powers of
attorney and other conveyances, and will perform all such other acts, as may be
necessary or desirable to vest in Assignee title to and enjoyment of the
Contributed

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<PAGE>   6

Assets. Assignor will transfer and deliver to the account of Assignee any cash
or other property that Assignor may receive in respect of any Contributed Asset;
and

                  (b) at the request of Assignor and without further
consideration, Assignee will execute and deliver such further assignments,
instruments of transfer, bills of sale, bills of contribution, powers of
attorney and other conveyances, and will perform all such other acts, as may be
necessary or desirable to vest in Assignee title to and enjoyment of the
Contributed Assets and to effectuate the assumption of the Transferred
Obligations.

         7.       DISCLAIMER OF WARRANTIES AND LIABILITIES.

         (a) NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS
         AGREEMENT, THE CONTRIBUTED ASSETS ARE BEING CONTRIBUTED, ASSIGNED AND
         TRANSFERRED BY ASSIGNOR TO ASSIGNEE ON AN "AS IS" BASIS AS OF THE
         ASSIGNMENT EFFECTIVE DATE. TO THE FULLEST EXTENT PERMITTED BY LAW,
         ASSIGNOR EXPRESSLY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES WITH
         RESPECT TO THE CONDITION, QUALITY, UTILITY OR VALUE OF ANY AND ALL OF
         THE CONTRIBUTED ASSETS, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT
         LIMITATION:

                  (i)      ANY STATUTORY OR IMPLIED WARRANTY OF MERCHANTABILITY
                           OR FITNESS FOR A PARTICULAR PURPOSE; AND

                  (ii)     ANY IMPLIED WARRANTY ARISING FROM COURSE OF DEALING,
                           COURSE OF PERFORMANCE OR USAGE OF TRADE.

         (b) ASSIGNOR WILL NOT BE LIABLE TO ASSIGNEE FOR DAMAGES, AND ASSIGNEE
         HEREBY RELEASES ASSIGNOR FROM ANY LIABILITY FOR DAMAGES, ARISING UNDER
         ANY THEORIES OF LEGAL LIABILITY, TO THE FULLEST EXTENT THAT ASSIGNEE
         MAY LEGALLY AGREE TO RELEASE ASSIGNOR FROM LIABILITY FOR SUCH DAMAGES;
         PROVIDED, HOWEVER, THAT ASSIGNEE DOES NOT RELEASE ASSIGNOR FROM ANY
         LIABILITY ARISING SOLELY FROM THE WILLFUL MISCONDUCT OR GROSS
         NEGLIGENCE OF ASSIGNOR (UNLESS ATTRIBUTED OR IMPUTED TO ASSIGNOR BY
         REASON OF ANY ACT OR OMISSION OF ASSIGNEE WHETHER AS AGENT FOR ASSIGNOR
         OR OTHERWISE). "THEORIES OF LEGAL LIABILITY" AS USED IN THIS SECTION
         7(b) INCLUDE, BUT ARE NOT LIMITED TO, CONTRACT, TORT, STRICT LIABILITY,
         BREACH OF EXPRESS OR IMPLIED WARRANTY, BREACH OF IMPLIED COVENANT AND
         THE SOLE OR CONCURRENT NEGLIGENCE OF ASSIGNOR OR ANY PERSON WHOSE
         NEGLIGENCE, DUTIES, ACTIONS OR LIABILITIES MAY BE ATTRIBUTED OR IMPUTED
         TO ASSIGNOR.

         (c) No Consequential or Incidental Damages. ASSIGNOR SHALL HAVE NO
         OBLIGATION OR LIABILITY UNDER ANY "THEORIES OF LEGAL LIABILITY" (AS
         SUCH PHRASE IS USED IN SECTION 7(b)) FOR LOSS OF USE, REVENUE OR PROFIT
         OR FOR ANY OTHER INCIDENTAL OR CONSEQUENTIAL DAMAGES WITH RESPECT TO
         ANY DEFECT IN, OR USE OR OWNERSHIP OF, ANY CONTRIBUTED ASSET.

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         (d) As used in this Section 7, the term "Assignor" shall include
         Travelocity.com Sub and all directors, officers, stockholders,
         affiliates, employees, agents, attorneys and representatives of
         Assignor and Travelocity.com Sub.

         (e) Full Negotiation by Parties. THE PARTIES ACKNOWLEDGE THAT THIS
         SECTION 7 HAS BEEN THE SUBJECT OF FULL DISCUSSION AND NEGOTIATION
         BETWEEN THE PARTIES AND THAT THE PROVISIONS OF THIS AGREEMENT WERE
         ARRIVED AT IN CONSIDERATION OF THE PROVISIONS AND EFFECTS OF THIS
         SECTION 7, INCLUDING THE DISCLAIMERS AND RELEASES SET FORTH HEREIN.

         8. EFFECTIVENESS OF AGREEMENT. This Agreement shall not be effective
and shall not legally bind the parties until the Assignment Effective Date.

         9. SUBMISSION TO JURISDICTION. As part of the consideration for value
received pursuant to this Agreement, and regardless of the location of any
present or future domicile or principal place of business of either Party, each
Party hereby irrevocably consents in advance to the personal jurisdiction of the
District Court of Tarrant County, Texas, Fort Worth Division or the United
States District Court for the Northern District of Texas, Fort Worth Division,
to hear and determine any Disputes brought against such party by the other Party
and pertaining to this Agreement or to any matter relating to or arising out of
this Agreement.

         10. ENTIRE AGREEMENT; SURVIVAL. This Agreement (including all
Schedules, Exhibits, Appendices, and other documents attached hereto, each of
which is incorporated into this Agreement by this reference) constitutes the
full and complete statement of the agreement of the Parties with respect to the
subject matter hereof and supersedes any previous agreements, understandings or
communications, whether written or oral, relating to such subject matter. Any
provision of this Agreement which contemplates performance or observance
subsequent to any termination or expiration of this Agreement will survive any
termination or expiration of this Agreement and continue in full force and
effect. The disclaimers and releases under Section 7 hereof shall survive
forever.

         11. AMENDMENTS; WAIVER. This Agreement may be amended, modified or
supplemented only by a written instrument executed by each Party hereto. Any
terms and conditions varying from this Agreement on any order, invoice or other
notification from either Party are not binding on the other Party unless
specifically accepted in writing by the other Party hereto. Unless otherwise
expressly provided in this Agreement, a delay or omission by either Party to
exercise any right or power under this Agreement will not be construed to be a
waiver thereof. No waiver of any breach of any provision of this Agreement will
constitute a waiver of any other prior, concurrent or subsequent breach of the
same or any other provision hereof.

         12. BINDING NATURE; ASSIGNMENT. This Agreement will be binding on the
Parties and their successors and permitted assigns. Neither Party may, nor will
it have the power to, assign this Agreement, or any part hereof, without the
prior written consent of the other Party

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<PAGE>   8

hereto. Any attempted assignment in violation of this Agreement shall be null
and void ab initio.

         13. THIRD PARTY BENEFICIARIES. This Agreement is entered into solely
between, and may be enforced only by, Assignor and Assignee, and this Agreement
will not be deemed to create any rights in any third parties, including any
customers of a Party, or to create any obligations of a Party to any such third
parties.

         14. APPROVALS AND SIMILAR ACTIONS. Except as otherwise expressly
provided in this Agreement, if an agreement, approval, acceptance, consent or
similar action is required of either Party or its Affiliates by any provision of
this Agreement, or otherwise to effect the transactions contemplated by this
Agreement, such action will not be unreasonably withheld or delayed. An approval
or consent given by a Party under this Agreement will not relieve the other
Party from responsibility for complying with the requirements of this Agreement,
nor will it be construed as a waiver of any rights under this Agreement, except
as and to the extent otherwise expressly provided in such approval or consent.

         15. NOTICES. All notices under this Agreement will be in writing and
will be deemed to have been duly given if delivered personally or by a
nationally recognized courier service, faxed, electronically mailed or mailed by
registered or certified mail, return receipt requested, postage prepaid, to the
Parties as follows:

         If to Assignor:

         Travelocity.com Inc.
         Attention:  General Counsel/Corporate Secretary
         4255 Amon Carter Boulevard
         MD 4204
         Fort Worth, Texas 76155
         Facsimile: (817) 931-7502

         If to Assignee:

         Travelocity.com LP
         Attention:  President
         4200 Buckingham Road
         Mail Drop 1310
         Fort Worth, Texas 76155
         Facsimile: (817) 963-3666

All notices under this Agreement that are addressed as provided in this Section
15: (a) if delivered personally or by a nationally recognized courier service,
will be deemed given upon delivery, (b) if delivered by facsimile or electronic
mail, will be deemed given when confirmed, and (c) if delivered by mail in the
manner described above, will be deemed given on the fifth (5th) business day
after the day it is deposited in a regular depository of the United States mail.
Either Party from time to time may change its address or designee for
notification purposes by giving

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<PAGE>   9

the other Party notice of the new address or designee and the date upon which
such change will become effective in the manner set forth above.

         16. CONSTRUCTION RULES; COUNTERPARTS. In performing its obligations
under this Agreement, no Party will be required to undertake any activity that
would conflict with the requirements of any applicable law, rule, regulation,
interpretation, judgment, order or injunction of any Governmental Authority. The
Parties acknowledge and agree that each has participated in the drafting of this
Agreement and that this Agreement will not be construed in favor of or against
either Party solely on the basis of a Party's drafting or participation in the
drafting of any portion of this Agreement. This Agreement may be executed in
multiple counterparts, each of which will be deemed an original and all of which
taken together will constitute one instrument.

         17. GOVERNING LAW. This Agreement will be governed by and construed in
accordance with the substantive laws of the State of New York, without giving
effect to any choice-of-law rules that may require the application of the laws
of another jurisdiction.

         18. ENFORCEABILITY; SEVERABILITY. Any provision of this Agreement which
is held to be invalid, illegal or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such invalidity, illegality
or unenforceability without affecting the remaining provisions of this
Agreement. Any such provision shall not invalidate or otherwise render
unenforceable such provision in any other jurisdiction. To the extent permitted
by applicable law, each Party waives any provision of law which renders any
provision of this Agreement invalid, illegal or unenforceable in any respect.

         19. HEADINGS. The section headings herein are for convenience of
reference only, do not constitute part of this Agreement, and shall not be
deemed to limit or otherwise affect any of the provisions hereof.

                [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

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         IN WITNESS WHEREOF, Assignor and Assignee have duly executed this Bill
of Contribution, Assignment and Assumption Agreement by their authorized
representatives on the date first above written.

                                  ASSIGNOR:

                                  TRAVELOCITY.COM INC., a Delaware corporation

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

Attest:

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

                                  ASSIGNEE:

                                  TRAVELOCITY.COM LP, a Delaware limited
                                  partnership

                                  By Its General Partner, Travelocity
                                  Holdings, Inc., a Delaware corporation

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

Attest:

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

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<PAGE>   11

                                   APPENDIX A

                                    GLOSSARY<PAGE>   1
                                                                   EXHIBIT 10.9

                            FORM OF OPTION AGREEMENT

         This Option Agreement (the "Agreement") is made and entered into as of
_______, 2000 by and between Sabre Inc., a Delaware corporation ("Sabre"), and
Travelocity.com Inc., a Delaware corporation ("Travelocity.com").

         WHEREAS, Sabre, Travelocity Holdings, Inc., a Delaware corporation,
Travelocity.com and Preview Travel, Inc., a Delaware corporation ("Preview")
have entered into an Agreement and Plan of Merger, dated October __, 1999 (the
"Merger Agreement") pursuant to which Preview will be merged with and into
Travelocity.com, with Travelocity.com as the surviving corporation; and

         WHEREAS, it is a condition precedent to the obligation of Preview to
consummate the transactions contemplated by the Merger Agreement that the
parties hereto enter into this Agreement.

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
set forth herein, and in consideration of Preview consummating the transactions
contemplated by the Merger Agreement, the parties hereto agree as follows:

                                    ARTICLE I

                                   DEFINITIONS

         Section 1.1  Definitions. As used herein, the following terms shall
have the respective meanings set forth below:

                 "Effective Time" shall have the meaning ascribed to that term
in the Merger Agreement.

                 "Option Shares" shall mean that number of shares of
Travelocity.com Common Stock equal to $50,000,000 divided by the Current Market
Price.

                 "Current Market Price" means the average closing price per
share of Preview Common Stock for the ten (10) trading days ending on the
trading day immediately prior to the Effective Time.

                 "Travelocity.com Common Stock" means Common Stock, par value
$.001 per share, of Travelocity.com, after the Effective Time.

                 "Preview Common Stock" means Common Stock, par value $.001 per
share, of Preview, prior to the Effective Time.

<PAGE>   2

         Section 1.2 Put Option. (a) At any time after the Effective Time and on
or before the date ten business days after the Effective Time, Travelocity.com
shall have the option (the "Option") to sell to Sabre (or its designee), and
Sabre shall be obligated to purchase (or cause its designee to purchase), all or
any portion of the Option Shares at a price per share equal to the Current
Market Price.

                 (b) Travelocity.com may exercise the Option by sending written
notice to Sabre on or before 5:00 p.m. Dallas, Texas time on the tenth business
day following the Effective Time.

                 (c) The sale and purchase of the Option Shares (the "Closing")
pursuant to this Agreement shall take place at the offices of Fried, Frank,
Harris, Shriver & Jacobson, One New York Plaza, New York, NY 10004, two business
days after the Travelocity.com provides notice to Sabre or such other date as is
agreed by the parties. The date on which the Closing occurs is called the
"Closing Date."

         Section 1.3   Deliveries at Closing.  At the Closing:

                 (a) Sabre (or its designee) shall deliver to Travelocity.com
the purchase price of the Option Shares by cash, check or wire transfer to an
account designated by Travelocity.com not less than one business day prior to
the Closing; and

                 (b) Travelocity.com shall deliver to Sabre a certificate or
certificates representing the Option Shares registered in the name of Sabre (or
its designee).

         Section 1.4 Use of Proceeds. The proceeds from the sale of Option
Shares under this Agreement shall be transferred by Travelocity.com to
Travelocity.com LP, a Delaware limited partnership, as an additional capital
contribution in exchange for additional partnership units as provided in Section
4.7 of the Amended and Restated Agreement of Limited Partnership of
Travelocity.com LP.

                                   ARTICLE II

                REPRESENTATIONS AND WARRANTIES OF TRAVELOCITY.COM

         Travelocity.com hereby represents and warrant to Sabre as follows:

         Section 2.1 Organization; Good Standing. Travelocity.com is a
corporation duly organized, validly existing and in good standing under the laws
of the State of Delaware.

         Section 2.2 Authority; Consents; No Conflicts. Travelocity.com has all
requisite corporate power and authority to execute and deliver this Agreement,
to perform its obligations hereunder and to consummate the transactions
contemplated hereby. The execution, delivery and performance by Travelocity.com
of this Agreement and consummation by Travelocity.com of the

                                       -2-
<PAGE>   3

transactions contemplated hereby have been duly and validly authorized by all
necessary corporate action on the part of Travelocity.com; and no other
corporate proceedings on the part of Travelocity.com or their respective
security holders are necessary to authorize the execution, delivery and
performance by Travelocity.com of the Agreement or the consummation of the
transactions contemplated hereby. This Agreement has been duly and validly
executed and delivered by Travelocity.com, and constitutes the legal, valid and
binding obligation of Travelocity.com, enforceable against Travelocity.com in
accordance with its terms, except as enforceability may be limited by applicable
laws relating to bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium or other similar laws of general application relating to or affecting
enforcement of creditors' rights and except to the extent that injunctive or
other equitable relief is within the discretion of the court. Neither the
execution, delivery or performance by Travelocity.com of this Agreement, nor the
consummation by Travelocity.com of the transactions contemplated hereby will,
with or without the giving of notice or the passage of time, or both, (i)
violate or conflict with any provision of the Certificate of Incorporation or
Bylaws of Travelocity.com; (ii) violate, conflict with, result in any breach of
or constitute a default under, or result in or permit the modification,
amendment, termination or cancellation of, or accelerate the performance
required by any terms of, as the case may be, any agreement or instrument, to
which Travelocity.com is a party; (iii) result in the creation or imposition of
any security interest, encumbrance, claim, lien or charge of any kind (a "Lien")
upon any of the property owned by Travelocity.com; (iv) violate or conflict with
any law, ordinance, code, rule, regulation, standard, judgment, decree, writ,
ruling, injunction, order or other requirement of any governmental,
administrative or judicial authority or the common law (a "Legal Requirement")
applicable to Travelocity.com; or (v) require any authorization, order, permit,
consent or approval of, or notice to, or filing, registration or qualification
(an "Approval"), with any national, regional, federal, state or local
government, any state or other political subdivision thereof, any person
exercising executive, legislative, judicial, regulatory or administrative
functions of or pertaining to government, including any government authority,
agency, department, board, commission or instrumentality of any jurisdiction,
and any court, tribunal or arbitrator(s) of competent jurisdiction, and any
self-regulatory organization (a "Government Authority") or Approval of, to or
with any other third party to be obtained or made by Travelocity.com which has
not heretofore been obtained or made.

         Section 2.3 Valid Issuance of Common Stock. The shares being issued
hereunder, when issued, sold and delivered in accordance with the term of this
Agreement for the consideration expressed herein, will be duly and validly
issued, fully paid, and nonassessable, and will be free of restrictions on
transfer other than restrictions on transfer under applicable state and federal
securities laws.

                                   ARTICLE III

                     REPRESENTATIONS AND WARRANTIES OF SABRE

         Sabre represents and warrants to Travelocity.com as follows:

                                       -3-
<PAGE>   4

         Section 3.1 Organization. Sabre, is a corporation duly organized,
validly existing and in good standing under the laws of the State of Delaware.

         Section 3.2 Authority; Consents; No Conflicts. Sabre has all requisite
corporate power and authority to execute and deliver this Agreement, to perform
its obligations hereunder and to consummate the transactions contemplated
hereby. The execution, delivery and performance by Sabre of this Agreement, and
the performance and consummation by Sabre of the transactions contemplated
hereby, have been duly and validly authorized by all necessary corporate action
on the part of Sabre; and no other corporate proceedings on the part of Sabre is
necessary to authorize the execution, delivery and performance by Sabre of this
Agreement or the consummation by Sabre of the transactions contemplated hereby.
This Agreement has been duly and validly executed and delivered by Sabre and
constitutes the legal, valid and binding obligation of Sabre, enforceable
against Sabre in accordance with its terms, except as enforceability may be
limited by applicable laws relating to bankruptcy, insolvency, fraudulent
conveyance, reorganization, moratorium or similar laws of general application
relating to or affecting enforcement of creditors' rights and except to the
extent that injunctive or other equitable relief is within the discretion of the
court. Neither the execution, delivery or performance by Sabre of this
Agreement, nor the consummation of the transactions contemplated by this
Agreement, will, with or without the giving of notice or the passage of time, or
both, (i) violate or conflict with any provision of the Certificate of
Incorporation or Bylaws of Sabre; (ii) violate, conflict with, result in any
breach of or constitute a default under, or result in or permit the
modification, amendment, termination or cancellation of or accelerate the
performance required by any terms of, as the case may be, any agreement or
instrument to which Sabre is a party; (iii) result in the creation of any Lien
upon any of the property owned by Sabre; (iv) violate or conflict with any Legal
Requirements applicable to Sabre; or (v) require any Approval by a Government
Authority or other Approval of, to or with any other third party to be obtained
or made by Sabre which has not heretofore been obtained or made.

                                   ARTICLE IV

                                  MISCELLANEOUS

         Section 4.1 Fees and Expenses. Each party shall bear its respective
fees and expenses incurred in connection with this Agreement and the
consummation of the transactions contemplated hereby.

         Section 4.2 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE (REGARDLESS OF
THE LAWS THAT MIGHT BE APPLICABLE UNDER PRINCIPLES OF CONFLICTS OF LAW) AS TO
ALL MATTERS, INCLUDING MATTERS OF VALIDITY, CONSTRUCTION, EFFECT AND
PERFORMANCE.

         Section 4.3 Notices, etc. All notices, requests, demands or other
communications required by or otherwise with respect to this Agreement shall be
in writing (including facsimile or similar writing) and shall be given,

                                       -4-
<PAGE>   5

         if to Travelocity.com, to

                  Sabre
                  Attention:    Executive Vice President and
                                Chief Financial Officer
                  Facsimile No.:

         and a copy to

                  Fried, Frank, Harris, Shriver & Jacobson
                  One New York Plaza
                  New York, NY  10004
                  Attention:  Charles M. Nathan
                  Facsimile No.:  212-898-4000

         if to Sabre to

                  Sabre
                  Attention:  General Counsel
                  Facsimile No.:

         with a copy to

                  Fried, Frank, Harris, Shriver & Jacobson
                  One New York Plaza
                  New York, NY  10004
                  Attention:  Charles M. Nathan
                  Facsimile No.:  212-898-4000

         or such other address or facsimile number as such party may hereafter
specify for the purpose by notice to the other parties. Each such notice,
request or other communication shall be effective (a) if given by facsimile,
when such facsimile is transmitted to the facsimile number specified in this
Section and the appropriate facsimile confirmation is received or (b) if given
by any other means, when delivered at the address specified in this Section.

         Section 4.4 Binding Effect; Assignment; Third-Party Beneficiaries. This
Agreement shall be binding upon, inure to the benefit of and be enforceable by
the parties and their respective successors and assigns. No party may assign its
rights and obligations hereunder without the prior written consent of the other
party. This Agreement is not intended to create third-party beneficiaries.

         Section 4.5 Counterparts. This Agreement may be executed in two or more
counterparts, all of which shall be considered one and the same agreement, and
shall become effective when two or more counterparts have been signed by each of
the parties and delivered to the other parties, it being understood that the
parties need not sign the same counterpart.

                                       -5-
<PAGE>   6

         Section 4.6 Modifications. This Agreement may be amended or modified
only by a written instrument duly executed by or on behalf of each party. No
breach of any covenant, agreement, warranty or representation shall be deemed
waived unless expressly waived in writing by and on behalf of the party who may
assert such breach.

         Section 4.7 Severability. This Agreement shall be deemed severable, and
the invalidity or unenforceability of any term or provision hereof shall not
affect the validity or enforceability of this Agreement or of any other term or
provision hereof. Furthermore, in lieu of any such invalid or unenforceable term
or provision, the parties hereto intend that there shall be added as a part of
this Agreement a provision as similar in terms to such invalid or unenforceable
provision as may be possible and be valid and enforceable.

         Section 4.8 Entire Agreement. This Agreement incorporates all prior
understandings relating to the subject matter hereof and sets forth the entire
agreement of the parties with respect to the matters set forth herein.

         Section 4.9 Survival. All representations, warranties, covenants and
agreements contained in or made pursuant to this Agreement shall survive (and
not be affected in any respect by) the Closing indefinitely, irrespective of any
investigation conducted by any party hereto and any information which any party
may receive.

                                       -6-
<PAGE>   7

         IN WITNESS WHEREOF, Sabre and Travelocity.com have executed this
Agreement on the date first above written.

                                   SABRE INC.

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

                                   TRAVELOCITY.COM INC.

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

                                       -7-

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