Document:

ExpressJet

	
Exhibit 10.14(b)

AMENDMENT TO

EMPLOYMENT AGREEMENT

            This Amendment to Employment Agreement(this
“Amendment”) is made by and between ExpressJet Airlines, Inc., a Delaware corporation (“Company”),
andcHARLES R. COBLE (“Employee”). 

W I T N E S S E T H:

            WHEREAS,Company and Employee and Continental Airlines,
Inc., a Delaware corporation (“Continental”) previously entered into that certain Employment Agreement, dated as of
April 17, 2002 and amended as of April 24, 2002 (the “Agreement”), setting forth the terms of Employee's employment
with Company;

            WHEREAS,the parties now desire to modify the Agreement
with this Amendment as of the date hereof (the “Effective Date”), provided that the amendment to Section 3.1 shall be
effective as of April 1, 2005; and

            WHEREAS,this Amendment does not affect the rights or
duties of Continental, and the approval of Continental is not required with respect to this Amendment;

            NOW THEREFORE,for and in consideration of the mutual
promises, covenants and obligations contained herein, Company and Employee hereby agree as follows:

            1.         Defined
Terms.  Capitalized terms used but not otherwise defined herein shall have the meanings assigned to such terms in the
Agreement.

            2.         The
following new Sections 2.3 and 2.4 are hereby added to the Agreement:

            “2.3      
Company’s Right to Terminate.  Company, acting pursuant to an express resolution of the Board of Directors of
Company (the “Board of Directors”), shall have the right to terminate Employee’s employment under this Agreement
at any time for any of the following reasons:

                       
(i)         upon Employee’s death;

                       
(ii)         upon Employee’s becoming incapacitated for a period of at least 180 days
by accident, sickness or other circumstance which renders him mentally or physically incapable of performing the material duties
and services required of him hereunder on a full-time basis during such period;

                       
(iii)        for cause, which for purposes of this Agreement shall mean Employee’s gross
negligence or willful misconduct in the performance of, or Employee’s abuse of alcohol or drugs rendering him unable to
perform, the material duties and services required of him pursuant to this Agreement;

                       
(iv)        for Employee’s material breach of any provision of this Agreement which, if
correctable, remains uncorrected for 30 days following receipt by Employee of written notice by Company of such breach; or

                       
(v)         for any other reason whatsoever, in the sole discretion of the Board of
Directors.”

            “2.4      
Employee’s Right to Terminate.  Employee shall have the right to terminate his employment under this
Agreement at any time for any of the following reasons:

                       
(i)         the assignment to Employee of duties materially inconsistent with the duties
associated with the position described in paragraph 1.2 as such duties are constituted as of the Effective Date;

                       
(ii)         a material diminution in nature or scope of Employee’s authority,
responsibilities, or title from those applicable to him as of the Effective Date;

                       
(iii)        the occurrence of material acts or conduct on the part of Company or Holdings or
their respective officers or representatives which prevent Employee from performing his duties and responsibilities pursuant to
this Agreement;

                       
(iv)        Company or Holdings requiring Employee to be permanently based anywhere outside a
major urban center in Texas; 

                       
(v)         the taking of any action by Company or Holdings that would materially adversely
affect the corporate amenities enjoyed by Employee on the Effective Date;

                       
(vi)        a material breach by Company of any provision of this Agreement which, if
correctable, remains uncorrected for 30 days following receipt by Company of written notice of such breach by Employee; or

                       
(vii)       for any other reason whatsoever, in the sole discretion of Employee.”

            3.         The first
sentence of Section 3.1 of the Agreement is hereby amended and restated in its entirety as follows:

            “During the period of this Agreement, Employee shall
receive a minimum annual base salary equal to the greater of (i) $193,200.00 or (ii) such amount as Company and Employee mutually
may agree upon from time to time.”

            4.         Section
4.1 of the Agreement is hereby amended as follows:

                       
i.          The phrase “prior to a
Change in Control or after the date that is eighteen months after a Change in Control” is hereby inserted after the phrase
“Involuntary Termination” in Clause (A) of Section 4.1.

                       
ii.          Sub-clauses (iv) and (v) are hereby added to Clause (A) of Section 4.1
immediately after Sub-clause (iii) of Clause (A) of Section 4.1 as follows:

                                   
“(iv) Company may, in the sole discretion of the Board of Directors or the Human Resources Committee of the Board of
Directors pay Employee a pro rata target bonus at the same time bonuses are paid to active employees of Company, and (v) Company
shall provide Employee with Outplacement Services (as such term is defined in paragraph 4.4)”

                       
iii.         Clause (C) is hereby added to Section 4.1 immediately after Clause (B) of
Section 4.1 as follows:

                                   
“, or (C) if such termination shall constitute an Involuntary Termination or a termination by Employee of Employee’s
employment with Company for any reason encompassed by paragraph 2.4 and such termination occurs within eighteen months after a
Change in Control, then, subject to the provisions of paragraphs 4.2 and 4.3, (1) Continental and Company shall provide Employee
with Flight Privileges for the remainder of Employee’s lifetime; provided, however, that a termination by Employee of
Employee’s employment with Company for any reason encompassed by paragraph 2.4 shall not create a duty on the part of
Continental to provide Employee with Flight Privileges, (2) Company shall provide Employee and his eligible dependents with
Continuation Coverage (as such term is defined in paragraph 4.4) for the Severance Period (as such term is defined in paragraph
4.4), (3) Company shall pay Employee on or before the effective date of such termination a lump-sum cash payment in an amount equal
to the sum of (A) a pro rata bonus payment (notwithstanding any contrary provision in Company’s cash bonus program) equal to
the amount of Employee’s annual base salary pursuant to paragraph 3.1 at the rate in effect immediately prior to
Employee’s termination of employment, multiplied by the target rate under Company’s cash bonus program at the rate in
effect for the year of termination, and further multiplied by a fraction, the numerator of which is the number of days which have
elapsed in the calendar year during which the date of termination falls, and the denominator of which is three hundred sixty-five
(365), plus (B) two times the Employee’s base salary pursuant to paragraph 3.1 at the rate in effect immediately prior to
Employee’s termination of employment, plus (C) two times the amount of Employee’s annual base salary pursuant to
paragraph 3.1 at the rate in effect immediately prior to Employee’s termination of employment, multiplied by the target rate
under Company’s cash bonus program in effect for the year of termination, and (4) Company shall provide Employee with
Outplacement Services (as such term is defined in paragraph 4.4).  Notwithstanding anything contained herein, if a Change in
Control occurs and Employee’s employment with Company is terminated by reason of an Involuntary Termination prior to the date
of the Change in Control, and if such termination of employment was at the request of a third party who has taken steps reasonably
calculated to effect the Change in Control, then Employee shall, in lieu of the payments and benefits described in paragraph 4.1(A)
above, be entitled to the payments and additional benefits described in this paragraph 4.1(C) as if such Involuntary Termination
had occurred within eighteen months following the Change in Control.”

            5.         The first
sentence and clause (ii) of Section 4.3 of the Agreement are hereby amended and restated in their entirety as follows:

            “As part of the consideration for the compensation to
be paid under this Agreement, to protect the trade secrets and confidential information of Company and its affiliates that have
been and will in the future be disclosed or entrusted to Employee, the business opportunities of Company and its affiliates that
have been and will in the future be disclosed or entrusted to Employee, the relationships with customers of Company and its
affiliates that have been and will in the future be developed in Employee, the special training and knowledge relevant to
Employee’s employment responsibilities and duties, or the business goodwill of Company and its affiliates that has been and
will in the future be developed in Employee, and as an additional incentive for Company to enter into this Agreement, Company and
Employee agree to the post-termination obligations set forth in this Agreement.  All payments and benefits to Employee
hereunder shall be subject to Employee’s compliance with the following provisions for two full years after the termination of
Employee’s employment hereunder:”

                       
“(ii)        Employee will not, directly or indirectly for Employee or for others, in any
geographic area or market where Company or any of its affiliates are conducting any business or have during the previous 12 months
conducted such business:

                                   
(a)        engage in any Competitive Business (as defined below);

                                   
(b)        render advice or services to, or otherwise assist, any other person, association, or
entity who is engaged, directly or indirectly, in any Competitive Business with respect to such Competitive Business; or

                                   
(c)        induce any employee of Company or any affiliate of Company to terminate his or her
employment with Company or such affiliate, or hire or assist in the hiring of any such employee by any person, association, or
entity not affiliated with Company;”

            6.         The
following new paragraphs are hereby added to Section 4.3 of the Agreement immediately following clause (iv) and immediately
following the end of Section 4.3, respectively:

                       
“For purposes of this paragraph 4.3, the term “Competitive Business” shall mean the business of owning,
acquiring, establishing, operating, and maintaining a regional airline in the United States.  Notwithstanding the foregoing,
the noncompetition obligations set forth in this paragraph shall not be considered violated if Employee becomes an employee,
officer, consultant, advisor, or member of the board of directors of a major, mainline airline; provided however, that, if such
airline also engages in a Competitive Business, then this exception shall apply only if Employee’s primary duties, and the
principal portion of Employee’s working time, are related to the business of such airline other than the Competitive
Business.”

                       
“Company and Employee agree that the foregoing restrictions are reasonable under the circumstances and that any breach of the
covenants contained in this paragraph 4.3 would cause irreparable injury to Company.  Employee understands that the foregoing
restrictions may limit Employee’s ability to engage in certain businesses anywhere in the United States during the period
provided for above, but acknowledges that Employee will receive sufficiently high remuneration and other benefits under this
Agreement to justify such restriction.  Further, Employee acknowledges that his skills are such that he can be gainfully
employed in non-competitive employment, and that the agreement not to compete will in no way prevent him from earning a
living.  Nevertheless, if any of the aforesaid restrictions are found by a court of competent jurisdiction to be unreasonable,
or overly broad as to geographic area or time, or otherwise unenforceable, the parties intend for the restrictions therein set
forth to be modified by the court making such determination so as to be reasonable and enforceable and, as so modified, to be fully
enforced.  By agreeing to this contractual modification prospectively at this time, Company and Employee intend to make this
provision enforceable under the law or laws of all applicable states so that the entire agreement not to compete and this Agreement
as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal.  Such modification
shall not affect the payments made to Employee under this Agreement.”

            7.         The
following new Clause (i) of Section 4.4 is hereby added to the Agreement, and former Clauses (i), (ii), (iii) and (iv) of Section
4.4 are hereby renumbered as Clauses (ii), (iii), (iv) and (v), respectively:

                       
“Change in Control” shall have the meaning assigned to such term in Holdings’ 2002 Stock Incentive Plan as in
effect on the Effective Date;”

            8.         Sub-clause
(2) in Clause (ii) of Section 4.4 is hereby amended to delete the phrase “his Involuntary Termination” appearing
therein and to substitute the phrase “the termination of his employment” therefor.

            9.         Clause
(iv) of Section 4.4 is hereby amended as follows:

                       
i.          The phrase “For the purposes of determining Continental’s
rights or duties hereunder,” is hereby inserted before the phrase “‘Involuntary Termination’” in
Clause (iv) of Section 4.4.

                       
ii.          The following sentence is hereby added immediately after the first
sentence of Clause (iv) of Section 4.4:

                                   
“For all other purposes, ‘Involuntary Termination’ shall mean any termination by Company of Employee’s
employment with Company for any reason other than those reasons encompassed by paragraphs 2.3(i), (ii), (iii) or (iv).”

            10.        Clause (v) of
Section 4.4 is hereby amended to delete the phrase “Employee’s Involuntary Termination” appearing therein and to
substitute the phrase “the termination of Employee’s employment” therefor.

            11.        The following
new Clause (vi) of Section 4.4 is hereby added to the Agreement, and former Clause (v) of Section 4.4 is hereby renumbered as
Clause (vii):

                       
“Outplacement Services” shall mean outplacement services, at Company’s cost and for a period of twelve months
beginning on the date of Employee’s termination of employment, to be rendered by an agency selected by Employee and approved
by the Board of Directors or the Human Resources Committee of the Board (with such approval not to be unreasonably withheld);
and”

            12.        Clause (vii) of
Section 4.4 of the Agreement is hereby amended and restated in its entirety as follows:

                       
“Severance Period” shall mean the period commencing on the date of Employee’s termination of employment and
continuing for twenty-four months.”

            13.        The following
new Sections 4.5 and 4.6 are hereby added to the Agreement:

                       
“4.5       Payment Obligations Absolute.    Company’s obligation to pay
Employee the amounts and to make the arrangements provided in this Article IV shall be absolute and unconditional and shall not be
affected by any circumstances, including, without limitation, any set-off, counterclaim, recoupment, defense or other right which
Company (including its subsidiaries and affiliates) may have against him or anyone else.  All amounts payable by Company shall
be paid without notice or demand.  Employee shall not be obligated to seek other employment in mitigation of the amounts
payable or arrangements made under any provision of this Article IV, and, except as provided in paragraph 4.4 with respect to
Continuation Coverage, the obtaining of any such other employment (or the engagement in any endeavor as an independent contractor,
sole proprietor, partner, joint venturer, or otherwise) shall in no event effect any reduction of Company’s obligations to
make (or cause to be made) the payments and arrangements required to be made under this Article IV.”

                       
“4.6       Code Section 280G Provisions.  Notwithstanding any other provision of
this Agreement, if by reason of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”) any payment
or benefit received or to be received by Employee in connection with a Change in Control or the termination of Employee’s
employment (whether payable pursuant to the terms of this Agreement (“Contract Payments”) or any other plan,
arrangements or agreement with Company or an Affiliate (as defined below) (collectively with the Contract Payments, “Total
Payments”)) would not be deductible (in whole or part) by Company, an Affiliate or other person making such payment or
providing such benefit, then the Contract Payments shall be reduced (to zero if necessary) until no portion of the Total Payments
is not deductible by reason of Section 280G of the Code; provided, however, that no such reduction shall be made unless the net
after-tax benefit received by Employee shall after such reduction would exceed the net after-tax benefit received by Employee if no
such reduction was made and provided that if any reduction is required, Employee shall have the right to determine which of the
Contract Payments shall be reduced.  The foregoing determination and all determinations under this Section 4.6 shall be made
by the Accountants (as defined below).  For purposes of this section, "net after-tax benefit" shall mean (i) the Total
Payments that would constitute "parachute payments" within the meaning of Section 280G of the Code, less (ii) the amount of all
federal, state and local income taxes payable with respect to such payments calculated at the maximum marginal income tax rate for
each year in which the foregoing shall be paid to Employee (based on the rate in effect for such year as set forth in the Code as
in effect at the time of the first payment of the foregoing), less (iii) the amount of excise taxes imposed with respect to the
payments and benefits described in (i) above by Section 4999 of the Code.  For purposes of the foregoing determinations, (a)
no portion of the Total Payments the receipt or enjoyment of which Employee shall have effectively waived in writing prior to the
date of payment of the Severance Payment shall be taken into account; (b) no portion of the Total Payments shall be taken into
account which in the opinion of the Accountants does not constitute a “parachute payment” within the meaning of Section
280G(b)(2) of the Code (without regard to subsection (A)(ii) thereof); (c) the Contract Payments shall be reduced only to the
extent necessary so that the Total Payments in their entirety constitute reasonable compensation for services actually rendered
within the meaning of Section 280G(b)(4) of the Code, in the opinion of the Accountants;  and (d) the value of any non-cash
benefit or any deferred payment or benefit included in the Total Payments shall be determined by the Accountants in accordance with
the principles of Sections 280G(d)(3) and (4) of the Code.  For purposes of this Section 4.6, the term “Affiliate”
means Company’s successors, any person whose actions result in a Change in Control or any corporation affiliated (or which,
as a result of the completion of the transactions causing a Change in Control shall become affiliated) with Company within the
meaning of Section 1504 of the Code and “Accountants” shall mean Company’s independent certified public
accountants serving immediately prior to the Change in Control, unless the Accountants are also serving as accountant or auditor
for the individual, entity or group effecting the Change in Control, in which case Company shall appoint another nationally
recognized public accounting firm to make the determinations required hereunder (which accounting firm shall then be referred to as
the Accountants hereunder).  For purposes of making the determinations and calculations required herein, the Accountants may
make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations
concerning the application of Sections 280G and 4999 of the Code, provided that the Accountant's determinations must be made on the
basis of  "substantial authority" (within the meaning of Section 6662 of the Code).  All fees and expenses of the
Accountants shall be borne solely by Company.”

            14.        Continuing
Effectiveness of Agreement.  Except as expressly provided herein to the contrary, the Agreement shall remain unaffected
and shall continue in full force and effect after the date hereof.  No provision of this Amendment is intended to or shall be
interpreted to affect the rights or duties of Continental.

            15.       
Counterparts.  This Amendment may be executed by one or more of the parties to this Amendment on any number of separate
counterparts (including counterparts delivered by telecopy), and all of said counterparts taken together shall be deemed to
constitute one and the same instrument.  Any such counterpart delivered by telecopy shall be effective as an original for all
purposes. 

            IN WITNESS WHEREOF, the parties hereto have executed this
Amendment as of the 14th day of March, 2005, to be effective as of the Effective Date, provided that the amendment to Section 3.1
shall be effective as of April 1, 2005.

ExpressJet Airlines, Inc.

By:                                                                  

James B. Ream

President and

Chief Executive Officer

“Employee”

___________________________________

Charles R. CobleExpressJet Holdings Inc.

	
Exhibit 10.15

EMPLOYMENT AGREEMENT

            THIS EMPLOYMENT AGREEMENT
(“Agreement”) is made by and betweenEXPRESSJET AIRLINES, INC., a Delaware corporation (“Company”),
and JAMES E. NIDES (“Employee”), and is joined in solely for the purposes specified in Section 5.13 by
CONTINENTAL AIRLINES, INC., a Delaware corporation (“Continental”).

W I T N E S S E T H:

            WHEREAS,Company, Continental and Employee are parties to that certain Employment Agreement dated effective as of June 1,
2001 (the “Existing Agreement”); and

            WHEREAS, Continental and Employee are parties to certain other agreements (collectively, the “Prior
Agreements”) pursuant to, and/or Employee is otherwise participating under one or more of, the Continental Airlines, Inc.
Incentive Plan 2000, the Continental Airlines, Inc. 1998 Stock Incentive Plan, the Continental Airlines, Inc. 1997 Stock Incentive
Plan, the Continental Airlines, Inc. 1994 Incentive Equity Plan, the Continental Airlines, Inc. Officer Retention and Incentive
Award Program, the Continental Airlines, Inc. Management Bonus Program, and the Continental Airlines, Inc. Long Term Incentive
Performance Award Program (collectively, as amended, the “Continental Plans”); and

            WHEREAS, Continental and
ExpressJet Holdings, Inc. (“Holdings”) are contemplating an initial public offering of Holdings’ common stock
(the “Initial Public Offering”); and

            WHEREAS, the Board of
Directors of Company, and the Human Resources Committee of the Board of Directors of Continental, deem it advisable and in the best
interests of Company, Continental and their respective stockholders to assure management continuity for Company and, consistent
therewith, have authorized the execution, delivery and performance by Company and Continental of this Agreement; and

            WHEREAS, in connection
therewith, the parties desire to enter into this Agreement to, effective as of the Effective Date (as defined below) and subject to
the consummation of the Initial Public Offering, (i) replace and supersede the Existing Agreement in its entirety, (ii) modify and,
in some cases revoke, the Prior Agreements, and (iii) set forth their agreements with respect to other aspects of Employee’s
participation in the Continental Plans;

            NOW THEREFORE, for and in
consideration of the mutual promises, covenants and obligations contained herein, Company, Continental (solely as specified in
Section 5.13) and Employee agree as follows:

ARTICLE I:  EMPLOYMENT AND DUTIES

           
1.1       Employment; Effective
Date.  Beginning as of the Effective
Date, Company agrees to employ Employee and Employee agrees to be employed by Company, at will of both Company and Employee,
subject to the terms and conditions of this Agreement.  For purposes of this Agreement, the “Effective Date” shall
mean the date of the consummation of the Initial Public Offering.

           
1.2       Position.  Beginning as of the Effective
Date, Employee shall initially be employed in the position of Company’s Vice President – Flight Operations. 
Company may subsequently assign Employee to a different position or modify Employee’s duties and responsibilities. 
Moreover, Company may assign this Agreement and Employee’s employment to any subsidiary or affiliate of Company.

           
1.3       Duties and Services.  Employee agrees to
serve in the position assigned pursuant to paragraph 1.2 and to perform diligently and to the best of his abilities the duties and
services appertaining to such position as determined by Company, as well as such additional duties and services which Employee from
time to time may be reasonably directed to perform by Company.

ARTICLEII:  AT-WILL EMPLOYMENT
RELATIONSHIP

           
2.1       Employment At-Will.  The employment
relationship between Employee and Company is at-will.  Each of Employee and Company shall have the right to terminate the
employment relationship at any time and for any reason whatsoever, with or without cause, and without any liability or obligation
except as may be expressly provided in this Agreement.

           
2.2       Notice of Termination.  If Company or
Employee desires to terminate Employee’s employment hereunder, it or he shall do so by giving written notice to the other
party that it or he has elected to terminate Employee’s employment hereunder and stating the effective date and reason for
such termination, provided that no such action shall alter or amend any other provisions hereof or rights arising
hereunder.

ARTICLE III:  COMPENSATION AND BENEFITS

           
3.1       Base Salary.  During the period of this
Agreement, Employee shall receive a minimum annual base salary equal to the greater of (i) $175,000.00 or (ii) such amount as
Company and Employee mutually may agree upon from time to time.  Employee’s annual base salary shall be paid in equal
installments in accordance with Company’s standard policy regarding payment of compensation to employees but no less
frequently than semimonthly.

           
3.2       Bonus Programs.  Company shall pay
Employee a supplemental bonus for 2002 in an amount equal to $31,000.00 (which amount shall be paid to Employee as soon as
administratively feasible after the Effective Date).  Company or Holdings shall establish a management bonus program (the
“Management Bonus Program”) for the fiscal year beginning on January 1, 2002, subject to terms and conditions to be
determined in the sole discretion of the Board of Directors of Holdings or the Human Resources Committee of the Board of Directors
of Holdings.

           
3.3       Other Company Benefits.  During his
employment hereunder, Employee and, to the extent applicable, Employee’s family, dependents and beneficiaries, shall be
allowed to participate in all benefits, plans, and programs, including improvements or modifications of the same, which are now, or
may hereafter be, available to similarly situated employees of Company.  Such benefits, plans and programs may include,
without limitation, profit sharing plan, thrift plan, annual physical examinations, health insurance or health care plan, life
insurance, disability insurance, pension plan, pass privileges on Continental or Company flights, flight privileges and the
like.  Company shall not, however, by reason of this paragraph be obligated to institute, maintain, or refrain from changing,
amending or discontinuing, any such benefit plan or program, so long as such changes are similarly applicable to similarly situated
employees generally; provided, however, that Company shall not change, amend or discontinue Employee’s Flight Privileges (as
defined below) without his prior written consent.

           
3.4       Continental Airlines, Inc. Long Term Incentive Performance Award
Program.  Notwithstanding any provision in the Continental Airlines, Inc. Long Term
Incentive Performance Award Program (the “LTIP”) or any award notice issued thereunder to the contrary, (a) as of the
Effective Date, Employee shall cease participation in the LTIP, and (b) Employee shall forfeit and receive no payments with respect
to awards, if any, under the LTIP for which the Performance Period has not ended on or before the Effective Date; provided,
however, that in the event Employee experiences a termination of employment on or before the Effective Date, the terms of the LTIP
and any award notice issued to Employee thereunder shall control.  Company shall be liable for any amounts owed to Employee
under this paragraph 3.4, and Continental shall have no liability with respect to such amounts.  Employee hereby waives any
and all rights to notices or any other actions necessary to terminate Employee’s rights and participation under the LTIP in
accordance with the foregoing provisions of this paragraph 3.4.

           
3.5       Continental Airlines, Inc. Management Bonus Program.  Notwithstanding any provision of the Continental Airlines, Inc. Management Bonus Program or any other bonus program
adopted by the Human Resources Committee of the Board of Directors of Continental for 2002 (collectively, the “Continental
Bonus Programs”) or any award notice issued thereunder to the contrary, (a) as of the Effective Date, Employee shall cease
participation in all Continental Bonus Programs, and (b) Employee shall forfeit and receive no payments with respect to awards
under or Employee’s participation in the Continental Bonus Programs with respect to any period beginning after December 31,
2001.  Notwithstanding the foregoing, in the event Employee experiences a termination of employment on or before the Effective
Date, the terms of the applicable Continental Bonus Programs shall control.  Company shall be liable for any amounts owed to
Employee under this paragraph 3.5, and Continental shall have no liability with respect to such amounts.  Employee hereby
waives any and all rights to notices or any other actions necessary to terminate Employee’s participation under the
Continental Bonus Programs in accordance with the foregoing provisions of this paragraph 3.5.

           
3.6       Continental Airlines, Inc. Officer Retention and Incentive Award
Program.  Notwithstanding any provision of the Continental Airlines, Inc. Officer
Retention and Incentive Award Program (the “Retention Program”), any award notice thereunder, award agreement or any
other prior agreement between Continental and Employee, plan document or any other document to the contrary, Employee and
Continental acknowledge and agree that (a) Employee shall be considered for all purposes of the Retention Program to have incurred
a “Termination of Service” (as such term is defined in the Retention Program) as of the Effective Date by reason of
Employee’s voluntary termination of his employment and (b) Employee shall not be considered as either an “Eligible
Employee” or an “Officer” (as such terms are defined in the Retention Program) from and after the Effective Date;
provided, however, that in the event Employee experiences a Termination of Service on or before the Effective Date, the terms of
the Retention Program and any award notices issued to Employee thereunder shall control.  Employee hereby waives any and all
rights to notices with respect to the foregoing matters in connection with the Retention Program.  Continental shall retain
liability for payments to Employee with respect to his awards, if any, under the Retention Program, and Company and Holdings shall
have no liability with respect to such payments.

ARTICLE IV:  EFFECT OF TERMINATION

           
4.1       Effect on Compensation.  Upon
termination of the employment relationship by either Employee or Company, regardless of the reason therefor, all compensation and
all benefits to Employee hereunder shall terminate contemporaneously with termination of his employment, except that (A) if such
termination shall constitute an Involuntary Termination (as such term is defined in paragraph 4.4), then, subject to the provisions
of paragraphs 4.2 and 4.3, (i) Continental and Company shall provide Employee with Flight Privileges (as such term is defined in
paragraph 4.4) for the remainder of Employee’s lifetime, (ii) Company shall provide Employee and his eligible dependents with
Continuation Coverage (as such term is defined in paragraph 4.4) for the Severance Period (as such term is defined in paragraph
4.4), and (iii)  Company shall pay Employee the Monthly Severance Amount (as such term is defined in paragraph 4.4) each month
during the Severance Period, or (B) if such termination is a result of Employee’s retirement under Company’s retirement
policy or program generally applicable to similarly situated employees of Company, then Continental and Company shall, subject to
the provisions of paragraph 4.3, provide Employee with Flight Privileges for the remainder of Employee’s lifetime.  No
remuneration or wages earned by Employee during or with respect to the Severance Period (whether earned as an employee, independent
contractor, sole proprietor, joint venturer, or otherwise) shall reduce Company’s obligation to pay the Monthly Severance
Amount each month during the Severance Period.  Company may set off any amounts owed by Employee to Company or any of its
affiliates against any obligation to pay the Monthly Severance Amount.

           
4.2       Liquidated Damages.  In light of the difficulties in estimating the damages to Employee in the event Employee’s
employment is subject to an Involuntary Termination, Company and Employee hereby agree (for themselves and for the express and
directly enforceable benefit of Continental and Company’s affiliates) that the payments and benefits, if any, to be received
by Employee pursuant to paragraph 4.1 shall be received by Employee as liquidated damages.  Payment of the compensation and
benefits to Employee pursuant to paragraph 4.1 shall be offset against any amounts to which Employee may otherwise be entitled
under any and all severance plans and policies maintained by Company or its affiliates.

           
4.3       Certain Post-Termination
Obligations.  All payments and benefits to Employee hereunder shall be subject to
Employee’s compliance with the following provisions for one full year after the termination of Employee’s employment
hereunder:

           
(i)  Employeeshall, upon reasonable notice, furnish such information and proper
assistance to Company, its affiliates and Continental as may reasonably be required in connection with any litigation in which it
or any of its affiliates or Continental is, or may become, a party;

           
(ii)  Employeeshall not discuss with any other employee of Company or an affiliate of
Company the formation or operations of any business intended to compete with Company or its affiliates, and will not solicit or
cause to be solicited any employee of Company or its affiliates to leave the employ of Company or its affiliates;

            (iii)  any public
statements made by Employee concerning Company or its affiliates or Continental, or their officers, directors, or employees shall
be submitted in writing for prior approval by Company’s or Continental’s (as appropriate) public relations and legal
departments, and Employee shall not make any such public statements which are not so approved; and

            (iv)  upon termination
of employment, Employee shall (a) promptly return to Company all property (including all keys, passes, credit cards, documents,
memoranda and computer hardware and software) of Company or any of its affiliates or Continental then in his possession or control,
and (b) in the same manner as if he were still employed by Company, hold in confidence, and not disclose to any person, all
business plans, trade secrets, and confidential or proprietary information of Company or any of its affiliates or Continental, and
shall not use any such plans, secrets or information in a manner which is detrimental to Company or its affiliates or
Continental.

            If Employee fails to comply with
the above obligations, Company may cease making any and all payments hereunder, and Company, Company’s affiliates and
Continental may cease extending benefits to Employee and may recover by appropriate action instituted in any court of competent
jurisdiction any severance payments theretofore paid to Employee.  Employee agrees that the obligations of Employee contained
in this paragraph 4.3 are in addition to any rights Company, Company’s affiliates or Continental may have in law or at
equity, and that it is not possible to measure in money the damages which may be suffered by Company, Company’s affiliates or
Continental if Employee breaches any of the provisions of this paragraph 4.3.  Therefore, if Employee breaches any of the
provisions of this paragraph 4.3, each of Company, Company’s affiliates and Continental shall be entitled to an injunction
restraining Employee from violating such provisions.  If Company, any affiliate of Company or Continental shall institute any
action or proceeding to enforce any such obligations, Employee hereby irrevocably waives the claim or defense that Company, an
affiliate of Company or Continental has an adequate remedy at law and agrees not to assert in any such action or proceeding such
claim or defense.  The foregoing shall not prejudice Company’s (or any of its affiliates’) or Continental’s
right to require Employee to account for and pay over to Company, a Company affiliate or Continental, and Employee agrees to
account for and pay over, the compensation, profits, monies, accruals and other benefits derived or received by Employee as a
result of any transaction or occurrence constituting a breach of this paragraph 4.3.  The duration of the obligations of
Employee under this paragraph 4.3 shall be extended by and for the term of any period during which Employee is in breach of this
paragraph 4.3.

           
4.4       Certain Definitions and Additional
Terms.  As used herein, the following capitalized terms shall have the meanings
assigned below:

           
(i)  “Continuation Coverage” shall mean the continued coverage of Employee and his eligible dependents under
the welfare benefit plans available to similarly situated employees of Company who have not terminated employment (or the provision
of equivalent benefits), including, without limitation, medical, health, dental, life insurance, disability, vision care,
accidental death and dismemberment, and prescription drug, at no greater cost to Employee than that applicable to a similarly
situated Company employee who has not terminated employment; provided, however, that (1) subject to clause (2) below, the coverage
under a particular welfare benefit plan (or the receipt of equivalent benefits) shall terminate upon Employee’s receipt of
comparable benefits from a subsequent employer and (2) if Employee (and/or his eligible dependents) would have been entitled to
retiree coverage under a particular welfare benefit plan had he voluntarily retired on the date of his Involuntary Termination,
then such coverage shall be continued as provided in such plan upon the expiration of the Severance Period.  Notwithstanding
any provision in this Article IV to the contrary, to the extent permitted by applicable law, Employee’s entitlement to any
benefit continuation pursuant to Section 601 et. seq. of the Employee Retirement Income Security Act of 1974, as amended,
shall commence at the end of the period of, and shall not be reduced by the provision of, any applicable Continuation
Coverage;

            (ii)  “Flight
Privileges” shall mean flight privileges on each airline operated by Company, Continental or any of their respective
affiliates or any successor or successors thereto (the “System”), consisting of space available flight passes for
Employee and Employee’s eligible family members (as such eligibility was in effect on May 18, 1999), a Universal Air Travel
Plan (UATP) card (or, in the event of discontinuance of the UATP program, a similar charge card permitting the purchase of air
travel through direct billing to Company, Holdings, Continental or any successor or successors thereto (a “Similar
Card”)) in Employee’s name for charging on an annual basis up to the applicable Annual Travel Limit (as hereinafter
defined) with respect to such year in value (valued identically to the calculation of imputed income resulting from such flight
privileges described below) of flights (in any fare class) on the System for Employee, Employee’s spouse, Employee’s
family and significant others as determined by Employee, Platinum Elite OnePass Cards (or similar highest category successor
frequent flyer cards) in Employee’s and Employee’s spouse’s names for use on the System, a membership for
Employee and Employee’s spouse in Continental’s Presidents Club (or any successor program maintained in the System),
and payment by Company to Employee (while an officer of Company) of an annual amount (not to exceed in any year the Annual Gross Up
Limit (as hereinafter defined) with respect to such year) sufficient to pay, on an after tax basis (i.e., after the payment by
Employee of all taxes on such amount), the U.S. federal, state and local income taxes on imputed income resulting from such flights
(such imputed income to be calculated during the term of such Flight Privileges at the lowest published or unpublished fare (i.e.,
21 day advance purchase coach fare, lowest negotiated consolidator net fare, or other lowest available fare) for the applicable
itinerary (or similar flights on or around the date of such flight), regardless of the actual fare class booked or flown, or as
otherwise required by law) or resulting from any other flight privileges extended to Employee as a result of Employee’s
service as an employee of Company;

            (iii) “Involuntary
Termination” shall mean any termination of Employee’s employment with Company (other than resulting from an assignment
of this Agreement as permitted by paragraph 1.2 hereof) which does not result from Employee’s (A) resignation, (B) death, (C)
gross negligence or willful misconduct in performance of the duties and services required of Employee pursuant to this Agreement,
or failure to perform Employee’s duties hereunder after written notice of such failure has been delivered by Company to
Employee and Employee has not cured such failure within 10 days of receipt of such notice, (D) breach of any provision of this
Agreement, (E) becoming incapacitated by accident, sickness or other circumstance which renders Employee mentally or physically
incapable of performing the duties and services required of Employee hereunder on a full-time basis for a period of at least 90
days, (F) drug or alcohol abuse by Employee which materially adversely affects Employee’s ability to perform his duties
hereunder, or (F) retirement under the retirement policy or program generally applicable to similarly situated employees of
Company;

            (iv)  “Monthly
Severance Amount” shall mean an amount equal to one-twelfth of Employee’s annual base salary pursuant to paragraph 3.1
in effect immediately prior to Employee’s Involuntary Termination; and

“Severance Period” shall mean the period commencing on the date of Employee’s
Involuntary Termination and continuing for 12 months.

            As used for purposes of Flight
Privileges, with respect to any year, “Annual Travel Limit” shall mean an amount (initially $21,300), which amount
shall be adjusted (i) annually (beginning with the year 2002) by multiplying such amount by a fraction, the numerator of which
shall be Continental’s average fare per revenue passenger for its jet operations (excluding regional jets) with respect to
the applicable year as reported in its Annual Report on Form 10-K (or, if not so reported, as determined by Continental’s
independent auditors) (the “Average Fare”) for such year, and the denominator of which shall be the Average Fare for
the prior year, (ii) annually to add thereto any portion of such amount unused since the year 2001, and (iii) after adjustments
described in clauses (i) and (ii) above, automatically upon any change in the valuation methodology for imputed income from flights
(as compared with the valuation methodology for imputed income from flights used by Continental as of May 18, 1999), so as to
preserve the benefit of $21,300 annually (adjusted in accordance with clauses (i) and (ii) above) of flights relative to the
valuations resulting from the valuation methodology used by Continental as of May 18, 1999 (e.g., if a change in the valuation
methodology results, on average, in such flights being valued 15% higher than the valuation that would result using the valuation
methodology used by Continental as of May 18, 1999, then the Annual Travel Limit would be increased by 15% to $24,495, assuming no
other adjustments pursuant to clauses (i) and (ii) above).  In determining any adjustment pursuant to clause (iii) above,
Continental shall be entitled to rely on a good faith calculation performed by its independent auditors based on a statistically
significant random sampling of flight valuations compared with the applicable prior valuations of identical flights, which
calculation (and the basis for any adjustments pursuant to clauses (i) or (ii) above) will be provided to Employee upon
request.  Company will promptly notify Employee in writing of any adjustments to the Annual Travel Limit described in this
paragraph.

            As used for purposes of Flight
Privileges, with respect to any year, the term “Annual Gross Up Limit” shall mean an amount (initially $8,520), which
amount shall be adjusted (i) annually (beginning with the year 2002) by multiplying such amount by a fraction, the numerator of
which shall be the Average Fare for such year, and the denominator of which shall be the Average Fare for the prior year, (ii)
annually to add thereto any portion of such amount unused since the year 2001, and (iii) after adjustments described in clauses (i)
and (ii) above, automatically upon any change in the valuation methodology for imputed income from flights (as compared with the
valuation methodology for imputed income from flights used by Continental as of May 18, 1999), so as to preserve the benefit of
$8,520 annually (adjusted in accordance with clauses (i) and (ii) above) of tax gross up relative to the valuations resulting from
the valuation methodology used by Continental as of May 18, 1999 (e.g., if a change in the valuation methodology results, on
average, in flights being valued 15% higher than the valuation that would result using the valuation methodology used by
Continental as of May 18, 1999, then the Annual Gross Up Limit would be increased by 15% to $9798, assuming no other adjustments
pursuant to clauses (i) and (ii) above).  In determining any adjustment pursuant to clause (iii) above, Continental shall be
entitled to rely on a good faith calculation performed by its independent auditors based on a statistically significant random
sampling of flight valuations compared with the applicable prior valuations of identical flights, which calculation (and the basis
for any adjustments pursuant to clauses (i) or (ii) above) will be provided to Employee upon request.  Company will promptly
notify Employee in writing of any adjustments to the Annual Gross Up Limit described in this paragraph.

            As used for purposes of Flight
Privileges, a year may consist of twelve consecutive months other than a calendar year, it being Continental’s practice as of
August 1, 2001 for purposes of Flight Privileges for a year to commence on December 1 and end on the following November 30 (for
example, the twelve-month period from December 1, 2000 to November 30, 2001 is considered the year 2001 for purposes of Flight
Privileges); provided that all calculations for purposes of clause (i) in the prior two paragraphs shall be with respect to fiscal
years of Continental.

            As used for purposes of Flight
Privileges, the term “affiliates” (a) when used with respect to Company, means any entity controlled by, controlling,
or under common control with Company, and (b) when used with respect to Continental, means any entity controlled by, controlling,
or under common control with Continental.  For these purposes control of an entity shall require the direct or indirect
ownership of a majority of the outstanding capital stock of such entity.

            No tickets issued on the System
in connection with the Flight Privileges may be purchased other than directly from Company, Holdings, Continental or their
respective successor or successors (i.e., no travel agent or other fee or commission based distributor may be used), nor may any
such tickets be sold or transferred by Employee or any other person, nor may any such tickets be used by any person other than the
person in whose name the ticket is issued.  Employee agrees that, after receipt of an invoice or other accounting statement
herefore, he will promptly (and in any event within 45 days after receipt of such invoice or other accounting statement) reimburse
Company, Holdings or Continental, as appropriate, for all charges on his UATP card (or Similar Card) which are not for flights on
the System and which are not otherwise reimbursable to Employee under the applicable policies of Company for reimbursement of
business expenses of officers of Company, or which are for tickets in excess of the applicable Annual Travel Limit.  Employee
agrees that the credit availability under Employee’s UATP card (or Similar Card) may be suspended if Employee does not timely
reimburse Company, Holdings or Continental, as appropriate, as described in the foregoing sentence or if Employee exceeds the
applicable Annual Travel Limit with respect to a year; provided, that, immediately upon Company’s, Holdings’ or
Continental’s, as appropriate, receipt of Employee’s reimbursement in full (or, in the case of exceeding the applicable
Annual Travel Limit, beginning the next following year and after such reimbursement), the credit availability under
Employee’s UATP card (or Similar Card) will be restored.

            The sole cost to Employee of
flights on the System pursuant to use of Employee’s Flight Privileges will be the imputed income with respect to flights on
the System charged on Employee’s UATP card (or Similar Card), calculated throughout the term of Employee’s Flight
Privileges at the lowest published or unpublished fare (i.e., 21 day advance purchase coach fare, lowest negotiated consolidator
net fare or other lowest available fare) for the applicable itinerary (or similar flights on or around the date of such flight),
regardless of the actual fare class booked or flown, or as otherwise required by law, and reported to Employee as required by
applicable law.  With respect to any period for which Company is obligated to provide the tax gross up described above,
Employee will provide to Company, upon request, a calculation or other evidence of Employee’s marginal tax rate sufficient to
permit Company to calculate accurately the amount to be paid to Employee.

            Employeewill be issued a UATP card (or Similar Card), Platinum Elite OnePass Cards (or similar highest category frequent flyer
cards) in Employee’s and Employee’s spouse’s names, a membership card in Continental’s Presidents Club (or
any successor program maintained in the System) for Employee and Employee’s spouse, and an appropriate flight pass
identification card, each valid at all times during the term of Employee’s Flight Privileges.

            Flight Privileges are intended to
be used solely for personal reasons and may not be used for business purposes (other than business on behalf of Company).
Accordingly, notwithstanding any provision herein to the contrary, credit availability on Employee’s UATP card (or any
Similar Card) may be suspended, and Employee’s UATP card (or any Similar Card) may be revoked or cancelled, if
Employee’s UATP card (or any Similar Card) is used for business purposes (other than business on behalf of Company) and,
after receiving written notice from Company (or Continental if such non-allowable usage is on Continental or any of its affiliates
or any successor or successors thereto) to cease such usage, Employee again uses his UATP card (or any Similar Card) for any
business purpose (other than business on behalf of Company).

ARTICLE V: MISCELLANEOUS

           
5.1.      Notices.   For purposes of this Agreement, notices and all other communications provided for herein shall be in writing
and shall be deemed to have been duly given when personally delivered or when mailed by United States registered or certified mail,
return receipt requested, postage prepaid, addressed as follows:

If to Company to:                   ExpressJet
Airlines, Inc.

                                               
1600 Smith Street, Dept. HQSCE

                                               
Houston, Texas  77002

                                               
Attention:  Chief Financial Officer

If to Continental to:              Continental Airlines, Inc.

                                               
1600 Smith Street, Dept. HQSLG

                                               
Houston, Texas  77002

                                               
Attention:  General Counsel

            If to Employee
to:      James E. Nides

                                               
19519 Texas Laurel Trail

                                               
Kingwood, Texas 77346

or to such other address as either party may furnish to the other in writing in accordance herewith,
except that notices of changes of address shall be effective only upon receipt.

           
5.2       Applicable Law. This contract is entered into under, and shall be governed for all purposes by, the laws of the State of
Texas.

           
5.3       No Waiver.  No failure by either party hereto at any time to give notice to any breach by the other party of, or to require
compliance with, any condition or provision of this Agreement shall be deemed a waiver of similar or dissimilar provisions or
conditions at the same or at any prior or subsequent time.

           
5.4       Severability.  If a court of competent jurisdiction determines that any provision of this Agreement is invalid or
unenforceable, then the invalidity or unenforceability of that provision shall not affect the validity or enforceability of any
other provision of this Agreement, and all other provisions shall remain in full force and effect.

           
5.5       Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original,
but all of which together will constitute one and the same Agreement.

           
5.6       Withholding of Taxes and Other Employee
Deductions.  Company, its affiliates and Continental may withhold from any benefits
and payment made pursuant to this Agreement all federal, state, city and other taxes as may be required pursuant to any law or
governmental regulation or ruling and all other normal employee deductions made with respect to Company’s or
Continental’s employees generally.

           
5.7       Headings; Affiliates.  The paragraph headings have been inserted for purposes of convenience and shall not be used for
interpretive purposes.  Except as otherwise provided herein, for purposes of this Agreement, the term “affiliate,”
as applied to an entity (the “First Entity”), means an entity who directly, or indirectly through one or more
intermediaries, is controlled by, is controlling, or is under common control with the First Entity.

           
5.8       Gender and Plurals.  Wherever the context so requires, the masculine gender includes the feminine or neuter, and the singular
number includes the plural and conversely.

           
5.9       Successors.  This Agreement shall be binding (in the case of Continental, solely as provided in Section 5.13 hereof) upon and
inure to the benefit of Company, Continental and their respective successors, and in each case successor shall include, without
limitation, any person, association, or entity which may hereafter acquire or succeed to all or substantially all of the business
or assets of Company or Continental (as applicable) by any means whether direct or indirect, by purchase, merger, consolidation, or
otherwise.  Except as provided in the preceding sentence, this Agreement, and the rights and obligations of the parties
hereunder, are personal and neither this Agreement, nor any right, benefit or obligation of any party hereto, shall be subject to
voluntary or involuntary assignment, alienation or transfer, whether by operation of law or otherwise, without the prior written
consent of the other parties.

           
5.10     Effect of Termination.  Termination of the employment relationship under this Agreement shall not affect any right or obligation of any
party which is accrued or vested prior to or upon such termination.

           
5.11     Entire Agreement.  Except as provided in (i) the benefits, plans, and programs referenced in paragraph 3.3 and any awards under
Company’s or Holdings’ stock incentive plans, the Management Bonus Program or similar plans or programs adopted by
Company or Holdings after the Effective Date and (ii) separate agreements governing Employee’s flight privileges
relating to other airlines, this Agreement, as of the Effective Date, will constitute the entire agreement of the parties with
regard to the subject matter hereof, and will contain all the covenants, promises, representations, warranties and agreements
between the parties with respect to employment of Employee by Company.  Effective as of the Effective Date, the Existing
Agreement is hereby terminated and without any further force or effect, each Prior Agreement is modified and/or revoked as set
forth herein, and Employee’s rights under the Continental Plans are modified as provided herein.  Any modification of
this Agreement shall be effective only if it is in writing and signed by the party to be charged.  Notwithstanding any
provision in this Agreement to the contrary, if the Effective Date does not occur on or before July 31, 2002, then this Agreement
shall be void ab initio.

           
5.12     Deemed Resignations.  Any termination of Employee’s employment shall constitute an automatic
resignation of Employee as an officer of Company and each affiliate of Company, and an automatic resignation of Employee from the
board of directors of Company and from the board of directors of any affiliate of Company and from the board of directors or
similar governing body of any corporation, limited liability company or other entity in which Company or any affiliate holds an
equity interest and with respect to which board or similar governing body Employee serves as Company’s or such
affiliate’s designee or other representative.

            5.13    
Joinder.  Continental is a party to this Agreement solely with respect to (a)
the benefits to Continental described in the provisions of paragraphs 3.4, 3.5, 3.6, and 5.6, and (b) the obligations of
Continental relating to Flight Privileges as set forth in Article IV and as provided in paragraph 3.3.  In addition, any
provision of this Agreement that is for the benefit of or otherwise relates to Continental shall be directly enforceable by
Continental.

            IN WITNESS
WHEREOF, the parties hereto have executed this Agreement as of the 17th day of April, 2002,
to be effective as of the Effective Date.

	
 

	
                      

	
ExpressJet Airlines Inc.

 

 

	
                             

	
         

	
By:                                                      

		
       

	
James B. Ream

 President and Chief Executive Officer

	
 

	
                      

	
“Employee”

 

 

	
                             

	
         

	
                                                           

		
       

	
James E. Nides

	
 

	
                      

	
Continental Airlines, Inc.

 

	
                             

	
         

	
By:                                                      

		
       

	
Michael H. Campbell

 Senior Vice President – Human

 Resources and Labor Relations

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}]]