Document:

ExpressJet Holdings, Inc.

	
Exhibit 10.1

RESTRICTED STOCK AGREEMENT

(Pursuant to the terms of the

EXPRESSJET HOLDINGS, INC.

2002 STOCK INCENTIVE PLAN)

            This RESTRICTED STOCK AGREEMENT (this
“Agreement”) is between ExpressJet Holdings, Inc., a Delaware corporation (“Company”), and
____________________ (“Recipient”), and is dated as of the date set forth immediately above the signatures below.

            1.        
Grant of Restricted Stock.  The Company hereby grants to Recipient all rights, title and interest in the record
and beneficial ownership of _______________(###,###) shares (the “Restricted Stock”) of Company’s common stock,
$.01 par value per share (“Common Stock”), subject to the conditions described in Paragraphs 3, 4 and 5 as well as the
other provisions of this Agreement.  The Restricted Stock is granted pursuant to and to implement in part the ExpressJet
Holdings, Inc. 2002 Stock Incentive Plan (as amended and in effect from time to time, the “Plan”) and is subject to the
provisions of the Plan, which is hereby incorporated herein and is made a part hereof, as well as the provisions of this
Agreement.  Recipient agrees to be bound by all of the terms, provisions, conditions and limitations of the Plan and this
Agreement.  All capitalized terms have the meanings set forth in the Plan unless otherwise specifically provided.  All
references to specified paragraphs pertain to paragraphs of this Agreement unless otherwise specifically provided.

            2.        
Custody of Restricted Stock.  Upon satisfaction of the vesting conditions set forth in Paragraph 4 or the
occurrence of any of the events contemplated by Paragraph 5(b) or 5(c), Company shall issue and deliver to Recipient a certificate
or certificates for such number of shares of Restricted Stock (or shall otherwise cause such shares to be credited to an account on
behalf of Recipient) as are required to be issued and delivered under this Agreement.  Prior to the satisfaction of such
vesting conditions or the occurrence of such events, the Restricted Stock is not transferable and shall be held in trust or in
escrow pursuant to an agreement satisfactory to the Administrator until such time as the applicable restrictions on the transfer
thereof have expired or otherwise lapsed.

            3.         Risk
of Forfeiture.  Subject to Paragraphs 5(b) and 5(c), should Recipient’s employment (defined below) with Company
and each subsidiary (as the term “subsidiary” is defined in the Plan) terminate prior to any of the vesting dates set
forth in Paragraph 4, Recipient shall forfeit the right to receive the Restricted Stock that would otherwise have vested on such
dates.

            4.        
Vesting Dates.  Subject to Paragraph 5, the shares of Restricted Stock subject to this Agreement shall vest in
_____ percent (___%) increments on each of ____________________.

            5.        
Termination of Employment; Change in Control.  Voluntary or involuntary termination of employment, retirement,
death or disability of Recipient, or occurrence of a Change in Control, shall affect Recipient’s rights under this Agreement
as follows:

            (a)        Voluntary
or Involuntary Termination.  If, other than as specified below, Recipient voluntarily terminates employment (defined
below) or if Recipient’s employment is terminated involuntarily, then Recipient shall forfeit the right to receive all shares
of Restricted Stock that have not theretofore vested pursuant to Paragraph 4.

            (b)        Change in
Control.  If a Change in Control shall occur, then immediately all nonvested Restricted Stock that has not been
forfeited prior to the date of such Change in Control shall fully vest, all restrictions (other than those described in Paragraph
9) applicable to such Restricted Stock shall terminate and Company shall release from escrow or trust and shall issue and deliver
to Recipient a certificate or certificates for all shares of such Restricted Stock (or shall otherwise cause such shares to be
credited to an account on behalf of Recipient).

            (c)       
Retirement, Death or Disability.  If Recipient’s employment is terminated by retirement, death or
disability, then immediately all nonvested Restricted Stock shall fully vest, all restrictions (other than described in Paragraph
9) applicable to Restricted Stock shall terminate and Company shall release from escrow or trust and shall issue and deliver to
Recipient, or in the case of death, to the person or persons to whom Recipient’s rights under this Agreement shall pass by
will or by the applicable laws of descent and distribution, or in the case of disability, to Recipient’s personal
representative, a certificate or certificates for all Restricted Stock (or shall otherwise cause such shares to be credited to an
account on behalf of Recipient or such other parties as applicable).

            (d)       
Definition of Employment.  For purposes of this Agreement, “employment” means employment by Company
or a subsidiary.  Without limiting the scope of the preceding sentence, it is specifically provided that Recipient shall be
considered to have terminated employment at the time of the termination of the “subsidiary” status of the entity that
employs Recipient.  In this regard, neither the transfer of Recipient from employment by Company to employment by a subsidiary
nor the transfer of Recipient from employment by a subsidiary to employment by Company or another subsidiary shall be deemed to be
a termination of employment of Recipient.  Moreover, the employment of Recipient shall not be deemed to have been terminated
because of absence from active employment on account of temporary illness or during authorized vacation or during temporary leaves
of absence from active employment granted by Company or a subsidiary for reasons of professional advancement, education, health, or
government service, or during military leave for any period if Recipient returns to active employment within 90 days after the
termination of military leave, or during any period required to be treated as a leave of absence by virtue of any valid law or
agreement.  The Administrator’s determination in good faith regarding whether a termination of employment of any type or
disability has occurred shall be conclusive and determinative.

            6.        
Ownership Rights.     Subject to the restrictions set forth herein and subject to Paragraph 8,
Recipient is entitled to all voting and ownership rights applicable to the Restricted Stock, including the right to receive any
dividends that may be paid on Restricted Stock, whether or not vested.

            7.        
Reorganization of Company and Subsidiaries.  The existence of this Agreement shall not affect in any way the
right or power of Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or
other changes in Company’s capital structure or its business, or any merger or consolidation of Company or any issue of
bonds, debentures, preferred or prior preference stock ahead of or affecting the Restricted Stock or the rights thereof, or the
dissolution or liquidation of Company, or any sale or transfer of all or any part of its assets or business, or any other corporate
act or proceeding, whether of a similar character or otherwise.

            8.        
Adjustment of Shares.  In the event of stock dividends, spin-offs of assets or other extraordinary dividends,
stock splits, combinations of shares, recapitalizations, mergers, consolidations, reorganizations, liquidations, issuances of
rights or warrants and similar transactions or events involving Company (“Recapitalization Events”), then for all
purposes references herein to Common Stock or to Restricted Stock shall mean and include all securities or other property (other
than cash) that holders of Common Stock of Company are entitled to receive in respect of Common Stock by reason of each successive
Recapitalization Event, which securities or other property (other than cash) shall be treated in the same manner and shall be
subject to the same restrictions as the underlying Restricted Stock.

            9.        
Certain Restrictions.  By accepting the Restricted Stock, Recipient agrees that if at the time of delivery of
certificates for shares of Restricted Stock issued hereunder any sale of such shares is not covered by an effective registration
statement filed under the Securities Act of 1933 (the “Act”), Recipient will acquire the Restricted Stock for
Recipient’s own account and without a view to resale or distribution in violation of the Act or any other securities law, and
upon any such acquisition Recipient will enter into such written representations, warranties and agreements as Company may
reasonably request in order to comply with the Act or any other securities law or with this Agreement.

            10.      
Nontransferability of Award.  This Award is not transferable other than by will, the laws of descent and
distribution or by qualified domestic relations order.  No right or benefit hereunder shall in any manner be liable for or
subject to any debts, contracts, liabilities, or torts of Recipient.

            11.       Amendment and
Termination.  No amendment or termination of this Agreement which would impair the rights of Recipient shall be made
by the Board or the Administrator at any time without the written consent of Recipient.  No amendment or termination of the
Plan will adversely affect the right, title and interest of Recipient under this Agreement or to Restricted Stock granted hereunder
without the written consent of Recipient.

            12.       No Guarantee of
Employment.  This Agreement shall not confer upon Recipient any right with respect to continuance of employment or
other service with Company or any subsidiary, nor shall it interfere in any way with any right Company or any subsidiary would
otherwise have to terminate such Recipient’s employment or other service at any time. 

            13.       Withholding of
Taxes.  Company shall have the right to (i) make deductions from the number of shares of Restricted Stock
otherwise deliverable upon satisfaction of the conditions precedent under this Agreement (and other amounts payable under this
Agreement) in an amount sufficient to satisfy withholding of any federal, state or local taxes required by law, or (ii) take such
other action as may be necessary or appropriate to satisfy any such tax withholding obligations.

            14.       No Guarantee of
Tax Consequences.  Neither Company nor any subsidiary nor the Administrator makes any commitment or guarantee that any
federal or state tax treatment will apply or be available to any person eligible for benefits under this Agreement.

            15.      
Severability.  In the event that any provision of this Agreement shall be held illegal, invalid, or
unenforceable for any reason, such provision shall be fully severable, but shall not affect the remaining provisions of this
Agreement and this Agreement shall be construed and enforced as if the illegal, invalid, or unenforceable provision had never been
included herein.

            16.       Governing
Law.  The Agreement shall be construed in accordance with the laws of the State of Delaware to the extent federal law
does not supersede and preempt Delaware law.

            17.       Miscellaneous
Provisions.

                       
(a)        Not a Contract of Employment; No Acquired Rights.  The adoption
and maintenance of the Plan shall not be deemed to be a contract of employment between the Company or any of its subsidiaries and
any person.  Receipt of an Award under the Plan at any given time shall not be deemed to create the right to receive in the
future an Award under the Plan, or any other incentive awards granted to an employee of the Company or any of its subsidiaries, and
shall not constitute an acquired labor right for purposes of any foreign law.  The Plan shall not afford any recipient of an
Award any additional right to severance payments or other termination awards or compensation under any foreign law as a result of
the termination of such recipient’s employment for any reason whatsoever.

                       
(b)        Not a Part of Salary.  The grant of an Award under the Plan
is not intended to be a part of the salary of Recipient.

                       
(c)        Foreign Indemnity.  Recipient agrees to indemnify Company
for the Recipient’s portion of any social insurance obligations or taxes arising under any foreign law with respect to the
grant of this Restricted Stock Award, the vesting of the Restricted Stock or the sale or other disposition of the Restricted
Stock.

                       
(d)        Conflicts With Any Employment Agreement.  If Recipient has
an employment agreement with Company or any of its subsidiaries which contains different or additional provisions relating to
vesting of restricted stock awards, or otherwise conflicts with the terms of this Agreement, the provisions of the employment
agreement shall govern.

                       
(e)        Electronic Delivery and Signatures.  Recipient hereby
consents and agrees to electronic delivery of any Plan documents, proxy materials, annual reports and other related
documents.  If the Company establishes procedures for an electronic signature system for delivery and acceptance of Plan
documents (including documents relating to any programs adopted under the Plan), Recipient hereby consents to such procedures and
agrees that his or her electronic signature is the same as, and shall have the same force and effect as, his or her manual
signature.  Recipient consents and agrees that any such procedures and delivery may be effected by a third party engaged by
the Company to provide administrative services related to the Plan, including any program adopted under the Plan.

IN WITNESS WHEREOF, the parties have entered into this Agreement as of the ___ day of ____________,_______.

	

                     

	

                                                   

	
“COMPANY”

	
 

	
 

	
EXPRESSJET HOLDINGS, INC.

	
 

	
 

	
By Order of the Administrator

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

By:                                                      

	
 

	
 

	
Name:

	
 

	
 

	
Title:

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
“Recipient”

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

                                                           

	
 

	
 

	
Name:ExpressJet Holdings, Inc.

	
Exhibit 10.2

OUTSIDE DIRECTOR RESTRICTED STOCK AGREEMENT

(Pursuant to the terms of the

EXPRESSJET HOLDINGS, INC.

2002 STOCK INCENTIVE PLAN)

            This RESTRICTED STOCK AGREEMENT (this
“Agreement”) is between ExpressJet Holdings, Inc., a Delaware corporation (“Company”), and
____________________ (“Recipient”), and is dated as of the date set forth immediately above the signatures below.

            1.        
Grant of Restricted Stock.  Company hereby grants to Recipient all rights, title and interest in the record and
beneficial ownership of _________________ (xxxx) shares (the “Restricted Stock”) of Company’s common stock, $.01
par value per share (“Common Stock”), subject to the conditions described in Paragraphs 3, 4 and 5 as well as the other
provisions of this Agreement.  The Restricted Stock is granted pursuant to and to implement in part the ExpressJet Holdings,
Inc. 2002 Stock Incentive Plan (as amended and in effect from time to time, the “Plan”) and is subject to the
provisions of the Plan, which is hereby incorporated herein and is made a part hereof, as well as the provisions of this
Agreement.  Recipient agrees to be bound by all of the terms, provisions, conditions and limitations of the Plan and this
Agreement.  All capitalized terms have the meanings set forth in the Plan unless otherwise specifically provided.  All
references to specified paragraphs pertain to paragraphs of this Agreement unless otherwise specifically provided. 

            2.        
Custody of Restricted Stock.  Upon satisfaction of the vesting conditions set forth in Paragraph 4 or the
occurrence of any of the events contemplated by Paragraph 5(b) or 5(c), Company shall issue and deliver to Recipient a certificate
or certificates for the Restricted Stock (or shall otherwise cause the Restricted Stock to be credited to an account on behalf of
Recipient).  Prior to the satisfaction of such vesting conditions or the occurrence of such events, the Restricted Stock is
not transferable and shall be held in trust or in escrow pursuant to an agreement satisfactory to the Administrator until such time
as the applicable restrictions on the transfer thereof have expired or otherwise lapsed.

            3.         Risk
of Forfeiture.  Subject to Paragraphs 5(b) and 5(c), should Recipient’s service on the Board terminate prior to
the vesting date set forth in Paragraph 4, Recipient shall forfeit the right to receive the Restricted Stock.

            4.        
Vesting Date.  Subject to Paragraph 5, the Restricted Stock shall vest on the six-month anniversary of the date
hereof.

            5.        
Termination of Board Service; Change in Control.  Termination of Recipient’s service on the Board, death
or disability of Recipient, or occurrence of a Change in Control, shall affect Recipient’s rights under this Agreement as
follows:

            (a)       
Termination of Board Service Generally.  If, other than as specified below, Recipient’s service on the
Board is terminated, then Recipient shall forfeit the right to receive the Restricted Stock if the Restricted Stock has not yet
vested pursuant to Paragraph 4.

            (b)        Change in
Control.  If a Change in Control shall occur prior to the vesting of the Restricted Stock pursuant to Paragraph 4 and
if Recipient has been a member of the Board continuously from the date hereof to the date of such Change in Control, then
immediately the Restricted Stock shall fully vest, all restrictions (other than those described in Paragraph 9) applicable to the
Restricted Stock shall terminate and Company shall release from escrow or trust and shall issue and deliver to Recipient a
certificate or certificates for the Restricted Stock (or shall otherwise cause the Restricted Stock to be credited to an account on
behalf of Recipient).

            (c)        Death or
Disability.  If Recipient’s service on the Board is terminated by death or disability prior to the vesting of
the Restricted Stock pursuant to Paragraph 4, then immediately the Restricted Stock shall fully vest, all restrictions (other than
described in Paragraph 9) applicable to the Restricted Stock shall terminate and Company shall release from escrow or trust and
shall issue and deliver, in the case of death, to the person or persons to whom Recipient’s rights under this Agreement shall
pass by will or by the applicable laws of descent and distribution, or in the case of disability, to Recipient (or to
Recipient’s personal representative, if applicable), a certificate or certificates for the Restricted Stock (or shall
otherwise cause the Restricted Stock to be credited to an account on behalf of Recipient or such other parties as applicable).

            6.        
Ownership Rights.     Subject to the restrictions set forth herein and subject to Paragraph 8,
Recipient is entitled to all voting and ownership rights applicable to the Restricted Stock, including the right to receive any
dividends that may be paid on Restricted Stock, whether or not vested.

            7.        
Reorganization of Company and Subsidiaries.  The existence of this Agreement shall not affect in any way the
right or power of Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or
other changes in Company’s capital structure or its business, or any merger or consolidation of Company or any issue of
bonds, debentures, preferred or prior preference stock ahead of or affecting the Restricted Stock or the rights thereof, or the
dissolution or liquidation of Company, or any sale or transfer of all or any part of its assets or business, or any other corporate
act or proceeding, whether of a similar character or otherwise.

            8.        
Adjustment of Shares.  In the event of stock dividends, spin-offs of assets or other extraordinary dividends,
stock splits, combinations of shares, recapitalizations, mergers, consolidations, reorganizations, liquidations, issuances of
rights or warrants and similar transactions or events involving Company (“Recapitalization Events”), then for all
purposes references herein to Common Stock or to Restricted Stock shall mean and include all securities or other property (other
than cash) that holders of Common Stock of Company are entitled to receive in respect of Common Stock by reason of each successive
Recapitalization Event, which securities or other property (other than cash) shall be treated in the same manner and shall be
subject to the same restrictions as the underlying Restricted Stock.

            9.        
Certain Restrictions.   By accepting the Restricted Stock, Recipient agrees that if at the time of delivery of
certificates for shares of Restricted Stock issued hereunder any sale of such shares is not covered by an effective registration
statement filed under the Securities Act of 1933 (the “Act”), Recipient will acquire the Restricted Stock for
Recipient’s own account and without a view to resale or distribution in violation of the Act or any other securities law, and
upon any such acquisition Recipient will enter into such written representations, warranties and agreements as Company may
reasonably request in order to comply with the Act or any other securities law or with this Agreement.

            10.      
Nontransferability of Award.  This Award is not transferable other than by will, the laws of descent and
distribution or by qualified domestic relations order.  No right or benefit hereunder shall in any manner be liable for or
subject to any debts, contracts, liabilities, or torts of Recipient.

            11.       Amendment and
Termination.  No amendment or termination of this Agreement which would impair the rights of Recipient shall be made
by the Board or the Administrator at any time without the written consent of Recipient.  No amendment or termination of the
Plan will adversely affect the right, title and interest of Recipient under this Agreement or to Restricted Stock granted hereunder
without the written consent of Recipient.

            12.       No Guarantee of
Board Service.  This Agreement shall not confer upon Recipient any right with respect to continuance of service on the
Board, nor shall it interfere in any way with any right to terminate Recipient’s service on the Board at any time.

            13.       Withholding of
Taxes.  Company shall have the right to (i) make deductions from the number of shares of Restricted Stock
otherwise deliverable upon satisfaction of the conditions precedent under this Agreement (and other amounts payable under this
Agreement) in an amount sufficient to satisfy withholding of any federal, state or local taxes required by law, or (ii) take such
other action as may be necessary or appropriate to satisfy any such tax withholding obligations.

            14.       No Guarantee of
Tax Consequences.  Neither Company nor any subsidiary nor the Administrator makes any commitment or guarantee that any
federal or state tax treatment will apply or be available to any person eligible for benefits under this Agreement. 

            15.      
Severability.  In the event that any provision of this Agreement shall be held illegal, invalid, or
unenforceable for any reason, such provision shall be fully severable, but shall not affect the remaining provisions of this
Agreement and this Agreement shall be construed and enforced as if the illegal, invalid, or unenforceable provision had never been
included herein.

            16.       Governing
Law.   The Agreement shall be construed in accordance with the laws of the State of Delaware to the extent federal law
does not supersede and preempt Delaware law.

            17.       Electronic
Delivery and Signatures.  Recipient hereby consents and agrees to electronic delivery of any Plan documents,
proxy materials, annual reports and other related documents.  If Company establishes procedures for an electronic signature
system for delivery and acceptance of Plan documents (including documents relating to any programs adopted under the Plan),
Recipient hereby consents to such procedures and agrees that his or her electronic signature is the same as, and shall have the
same force and effect as, his or her manual signature.  Recipient consents and agrees that any such procedures and delivery
may be effected by a third party engaged by Company to provide administrative services related to the Plan, including any program
adopted under the Plan.

            IN WITNESS WHEREOF, the parties have entered into this
Agreement as of the ___ day of ____________,_______.

	

                     

	

                                                   

	
“COMPANY”

	
 

	
 

	
EXPRESSJET HOLDINGS, INC.

	
 

	
 

	
By Order of the Administrator

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

By:                                                      

	
 

	
 

	
Name:

	
 

	
 

	
Title:

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
“Recipient”

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	

                                                           

	
 

	
 

	
Name:

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