Document:

ExpressJet Holdings, Inc.

	
Exhibit 10.11

EMPLOYMENT AGREEMENT

            This Employment Agreement (this “Agreement”) is made by and between ExpressJet HOLDINGS, Inc., a Delaware corporation (“Company”), and Suzanne Lehman
Johnson (“Executive”). 

W I T N E S S E T H:

            WHEREAS, Company desires to employ Executive on the terms and conditions, and for the consideration, hereinafter set forth and Executive desires to be employed by Company on such terms and
conditions and for such consideration;

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

ARTICLE I:  EMPLOYMENT AND DUTIES

            1.1       Employment; Effective Date.  Company agrees to employ Executive and Executive agrees to be employed by Company, at will of both
Company and Executive, pursuant to the terms and conditions of this Agreement beginning as of November 19, 2009 (the “Effective Date”).

            1.2       Position.  From and after the Effective Date, Executive shall be employed in the position of Company’s Vice President, General
Counsel and Secretary.  Company may subsequently assign Executive to a different position or modify Executive’s duties and responsibilities.  Moreover, Company may assign this Agreement and Executive’s employment to any subsidiary or affiliate
of Company.

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

            1.4       Confidential Information, Inventions, Business Opportunities and Good Will.  Company shall disclose to Executive, and place Executive in a
position to have access to or develop, confidential or proprietary information and inventions of Company (or its affiliates); and shall entrust Executive with business opportunities of Company (or its affiliates); and shall place Executive in a position to develop
business good will on behalf of Company (or its affiliates).

ARTICLE II:  AT-WILL EMPLOYMENT RELATIONSHIP

            2.1       Employment At-Will.  The employment relationship between Executive and Company is at-will.  Each of Executive 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 Executive desires to terminate Executive’s employment hereunder, it or she shall do so by
giving written notice to the other party that it or she has elected to terminate Executive’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.  In the case of a termination of employment by Executive, the effective date of such termination specified in the written notice of termination from Executive to Company shall not be less than 15 nor more than 60 days, respectively,
from the date such written notice of termination is given, and Company may require an effective date of termination earlier than that specified in such written notice of termination (and, if such earlier effective date of termination is so required, it shall not
change the basis for Executive’s termination nor be construed or interpreted as a termination of employment by Company pursuant to paragraph 4.1).

ARTICLE III:  COMPENSATION AND BENEFITS

            3.1       Base Salary.  During the period of this Agreement, Executive shall receive a minimum annual base salary equal to the greater of (i)
$200,000.00 or (ii) such amount as Company and Executive mutually may agree upon from time to time.  Executive’s annual base salary shall be paid in equal installments in accordance with Company’s standard policy regarding payment of compensation to
executives but no less frequently than semi-monthly.

            3.2       Bonus Programs.  Executive shall participate in each cash bonus program maintained by Company on and after the Effective Date (including
without limitation any such program maintained for the year during which the Effective Date occurs) at a level which is not less than the participation level made available to similarly situated employees of the Company.

            3.3       Other Company Benefits.  Executive shall be entitled to no less than four weeks of vacation benefits annually.  During
Executive’s employment hereunder, Executive and, to the extent applicable, Executive’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 Airlines, Inc. (“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
Executive’s Flight Privileges (as defined below) without Executive’s prior written consent.  Executive will be eligible to receive restricted stock and stock option grants under the equity incentive plans maintained by ExpressJet Holdings, Inc.
(“Holdings”) in accordance with Holdings’ policy and Executive’s position within Company.  Company shall use reasonable efforts to provide Platinum Elite OnePass Cards (or similar highest category successor frequent flyer cards) in
Executive’s and Executive’s spouse’s names for use on the System (as defined below) and a membership for Executive and Executive’s spouse in Continental’s Presidents Club (or any successor program maintained in the System).

ARTICLE IV:  TERMINATION OF EMPLOYMENT

            4.1       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 Executive’s employment under this Agreement at any time for any of the following reasons:

                        (i)         upon Executive’s death;

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

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

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

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

            4.2       Executive’s Right to Terminate.  Executive shall have the right to terminate her employment under this Agreement at any time for any
of the following reasons:

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

                        (ii)        a material diminution in nature or scope of Executive’s authority,
responsibilities, or title from those applicable to her 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 Executive from performing her duties and responsibilities pursuant to this Agreement;

                        (iv)       Company or Holdings requiring Executive 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 Executive on the Effective Date; or

                        (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 Executive; or

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

            4.3       Payment Obligations Absolute.  Except as otherwise provided in this Agreement, Company’s obligation to pay Executive the amounts and
to make the arrangements provided in Article V 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 her or anyone else.  All amounts payable by Company shall be paid without notice or demand.  Executive shall not be obligated to seek other employment in mitigation of the amounts payable or arrangements made under any
provision of Article V, and 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 Article V.

ARTICLE V:  EFFECT OF TERMINATION

            5.1       Effect on Compensation.  Upon termination of the employment relationship by either Executive or Company, regardless of the reason
therefor, all compensation and all benefits to Executive hereunder shall terminate contemporaneously with termination of Executive’s employment, except that:

                        (i)         if such termination shall constitute an Involuntary Termination prior to
a Change in Control or after the date that is eighteen months after a Change in Control (as such terms are defined in paragraph 5.4), then, subject to the provisions of paragraphs 5.2, 5.3 and 5.6, (1) Company shall provide Executive with Continuation Coverage (as
such term is defined in paragraph 5.4) for the Severance Period (as such term is defined in paragraph 5.4), (2) Company shall pay Executive the Monthly Severance Amount (as such term is defined in paragraph 5.4) each month during the Severance Period, (3) Company
may, in the sole discretion of the Board of Directors or the Human Resources Committee of the Board of Directors of Holdings, pay Executive a pro rata target bonus as soon as administratively practicable after the
decision to pay the pro rata target bonus is made but in no event later than two and one half months after the end of the calendar year in which the decision is made (provided, however, that this clause (3) shall not apply if (A) such Involuntary Termination occurs
during a calendar year beginning after December 31, 2009, and (B) Company’s annual performance bonus program with respect to such calendar year is intended to constitute a “performance-based compensation” program for purposes of Section 162(m) of
the Internal Revenue Code of 1986, as amended (the “Code”), and the regulations thereunder), and (4) Company shall provide Executive with Outplacement Services (as such term is defined in paragraph 5.4); and

                        (ii)        if such termination shall constitute an Involuntary Termination or a
termination by Executive of Executive’s employment with Company for any reason encompassed by paragraphs 4.2(i), (ii), (iii), (iv), (v), or (vi) and such termination occurs within eighteen months after a Change in Control, then, subject to the provisions of
paragraphs 5.2, 5.3 and 5.6, (1) Company shall provide Executive with Continuation Coverage (as such term is defined in paragraph 5.4) for the Severance Period (as such term is defined in paragraph 5.4), (2) if such Change in Control constitutes a change in control
event (as defined in Treasury regulation section 1.409A-3(i)(5)), then Company shall pay Executive on 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 Executive’s annual base salary pursuant to paragraph 3.1 at the rate in effect immediately prior to Executive’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) (provided, however, that this clause (2)(A) shall not apply if (x) such termination of employment occurs during a calendar year beginning after December 31, 2009, and (y) Company’s annual performance bonus program with respect
to such calendar year is intended to constitute a “performance-based compensation” program for purposes of Section 162(m) of the Code and the regulations thereunder), plus (B) two times the Executive’s base salary pursuant to paragraph 3.1 at the
rate in effect immediately prior to Executive’s termination of employment, plus (C) two times the amount of Executive’s annual base salary pursuant to paragraph 3.1 at the rate in effect immediately prior to Executive’s termination of employment,
multiplied by the target rate under Company’s cash bonus program in effect for the year of termination, (3) if such Change in Control does not constitute a change in control event (as defined in Treasury regulation section 1.409A-3(i)(5)), then Company shall
pay Executive each month during the Severance Period an amount equal to 1/24th of the sum of the amounts described in paragraphs 5.1(ii)(2)(A), (B) and (C), and (4) Company shall provide Executive with Outplacement Services (as such term is defined in paragraph
5.4).  Notwithstanding anything contained herein, if Executive’s employment with Company is terminated by reason of an Involuntary Termination and a Change in Control occurs within six months following such Involuntary Termination, then Executive shall, in
lieu of the payments and benefits described in paragraph 5.1(i) above, be entitled to the payments and additional benefits described in this paragraph 5.1(ii), with such additional payments and increased benefits to be delivered as if such Involuntary Termination had
occurred on the same date as, and immediately following, the Change in Control (except that paragraph 5.1(ii)(3) shall be deemed to apply instead of paragraph 5.1(ii)(2)); and

                        (iii)       if such termination is a result of Executive’s retirement under
Company’s retirement policy or program generally applicable to similarly situated employees of Company, then Company shall, subject to the provisions of paragraph 5.3, provide Executive with space available Flight Privileges for the remainder of
Executive’s lifetime per the terms of any then-existing Company policy or program. 

            No remuneration or wages earned by Executive 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 Executive to Company or any of its affiliates that relate to a debt incurred in the ordinary course of
the service relationship between Executive and Company against any obligation to pay the Monthly Severance Amount; provided, however, that such set-off shall be limited to a maximum of $5,000 per taxable year and such set-off shall occur at the same time and in the
same amount as the debt otherwise would have been due and collected from Executive.

            5.2       Liquidated Damages.  In light of the difficulties in estimating the damages to Executive in the event Executive’s employment is
subject to an Involuntary Termination or any other termination of employment for which benefits are provided to Executive pursuant to paragraph 5.1, Company and Executive hereby agree (for themselves and for the express and directly enforceable benefit of
Company’s affiliates) that the payments and benefits, if any, to be received by Executive pursuant to paragraph 5.1 shall be received by Executive as liquidated damages.  Payment of the compensation and benefits to Executive pursuant to paragraph 5.1 shall
be offset against any amounts to which Executive may otherwise be entitled under any and all severance plans and policies maintained by Company or its affiliates. 

            5.3       Certain Post-Termination Obligations.  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 Executive, the business opportunities of Company and its affiliates that have been and will in the future be disclosed or
entrusted to Executive, the relationships with customers of Company and its affiliates that have been and will in the future be developed in Executive, the special training and knowledge relevant to Executive’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 Executive, and as an additional incentive for Company to enter into this Agreement, Company and Executive agree to the post-termination obligations set forth in this
Agreement.  All payments and benefits to Executive hereunder shall be subject to Executive’s compliance with the following provisions for two full years after the termination of Executive’s employment hereunder:

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

                        (ii)        (Executive will not, directly or indirectly for Executive 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;

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

                        (iv)       upon termination of employment, Executive 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 her possession or control, and (b) in the same manner as if she 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, and shall not use any such plans, secrets or information in a manner which is detrimental to
Company or its affiliates.

            For purposes of this paragraph 5.3, 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 Executive 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 Executive’s primary duties, and the principal portion of Executive’s working time, are related to the business of such airline
other than the Competitive Business.

            If Executive fails to comply with the above obligations, Company may cease making any and all payments hereunder, and Company and Company’s affiliates may cease extending benefits to
Executive and may recover by appropriate action instituted in any court of competent jurisdiction any severance payments theretofore paid to Executive.  Executive agrees that the obligations of Executive contained in this paragraph 5.3 are in addition to any
rights Company or Company’s affiliates 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 or Company’s affiliates if Executive breaches any of the provisions of this paragraph
5.3.  Therefore, if Executive breaches any of the provisions of this paragraph 5.3, each of Company and Company’s affiliates shall be entitled to an injunction restraining Executive from violating such provisions.  If Company or any affiliate of
Company shall institute any action or proceeding to enforce any such obligations, Executive hereby irrevocably waives the claim or defense that Company or an affiliate of Company 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’right to require Executive to account for and pay over to Company or a Company affiliate, and Executive agrees to account for and pay over, the compensation,
profits, monies, accruals and other benefits derived or received by Executive as a result of any transaction or occurrence constituting a breach of this paragraph 5.3.  The duration of the obligations of Executive under this paragraph 5.3 shall be extended by
and for the term of any period during which Executive is in breach of this paragraph 5.3.

            Company and Executive agree that the foregoing restrictions are reasonable under the circumstances and that any breach of the covenants contained in this paragraph 5.3 would cause irreparable
injury to Company.  Executive understands that the foregoing restrictions may limit Executive’s ability to engage in certain businesses anywhere in the United States during the period provided for above, but acknowledges that Executive will receive
sufficiently high remuneration and other benefits under this Agreement to justify such restriction.  Further, Executive acknowledges that her skills are such that she can be gainfully employed in non-competitive employment, and that the agreement not to compete
will in no way prevent her 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
Executive 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 Executive under this Agreement.

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

                        (i)         Incentive Plan as in effect on the Effective Date; provided, however,
that in any circumstance in which the foregoing definition would be operative and with respect to which the tax under Section 409A of the Code would apply or be imposed, but where such tax would not apply or be imposed if the meaning of the term “Change in
Control” met the requirements of Section 409A(a)(2)(A)(v) of the Code, then the term “Change in Control” herein shall mean, but only for the transaction so affected, a “change in control event” within the meaning of Treasury regulation
section 1.409A–3(i)(5);

                        (ii)        “Continuation Coverage” shall mean that during the portion, if
any, of the Severance Period that Executive elects to continue coverage for Executive and Executive’s eligible dependents under the Company’s group medical, dental and vision plans under the Consolidated Omnibus Budget Reconciliation Act of 1985, as
amended, and/or Sections 601 through 608 of the Employee Retirement Income Security Act of 1974, as amended, the Company shall promptly reimburse Executive on a monthly basis for the difference, if any, between (1) the amount Executive pays to effect and continue
such coverage and (2) the amount charged to a similarly situated active employee of the Company for similar coverage.  To the extent necessary to comply with Section 409A of the Code, in the event Executive is a “specified employee” (as defined in
Treasury regulation section 1.409A-1(i)), such reimbursement shall commence on the first day of the seventh month following Executive’s “separation from service” (as defined in Section 409A(a)(2)(A)(i) and applicable administrative guidance issued
thereunder) and, on such first day of such seventh month, Company shall reimburse Executive for all amounts that would have otherwise been reimbursed pursuant to this paragraph but for the delay in such reimbursement required pursuant to this sentence;

                        (iii)       “Flight Privileges” shall mean flight privileges on each airline
operated by Company, Holdings, Continental or any of their respective affiliates or any successor or successors thereto (the “System”), consisting of space available flight passes for Executive and Executive’s eligible family members (as such
eligibility was in effect on November 1, 2007), 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, Continental, Holdings or
any successor or successors thereto (a “Similar Card”)) in Executive’s name for charging on an annual, calendar-year 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 Executive, Executive’s spouse, Executive’s family and significant others as determined by Executive, and payment by
Company to Executive (while an officer of Company) of an annual, calendar-year 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
Executive 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 such other valuation methodology as may be adopted by Company or Continental with respect to their valuation of UATP benefits generally or resulting from any other flight privileges extended to Executive as a result of Executive’s
service as an officer of Company; provided, however, that the term “Flight Privileges” shall not include (A) space-available flight passes on Continental or any airline operated by Continental or any successor or successors thereto after the first to
occur of (1) the date Executive’s employment with Company and its affiliates terminates for any reason whatsoever or (2) the  Exclusivity Ending Date (as such term is defined in that certain Employee Benefits Separation Agreement by and among Continental,
Company, Holdings and XJT Holdings, Inc. dated as of April 17, 2002), or (B) a UATP card (or Similar Card) issued by or used to charge flights on Continental or any airline operated by Continental or any successor or successors thereto after the first to occur of (1)
the date Executive’s employment with Company and its affiliates terminates for any reason whatsoever or (2) the last day of the Capacity Purchase Period (as such term is defined in such Employee Benefits Separation Agreement);

                        (iv)       “Involuntary Termination” shall mean any termination by Company of
Executive’s employment with Company for any reason other than those reasons encompassed by paragraphs 4.1(i), (ii), (iii) or (iv);

                        (v)        “Monthly Severance Amount” shall mean an amount equal to
one-twelfth of Executive’s annual base salary pursuant to paragraph 3.1 in effect immediately prior to the termination of Executive’s employment;

                        (vi)       “Outplacement Services” shall mean reasonable outplacement services
whereby the Company receives a substantial business benefit by promoting a positive corporate image and maintaining corporate morale, at Company’s cost and for a period of twelve months beginning on the date of Executive’s termination of employment, to be
rendered by an agency selected by Executive and approved by the Board of Directors or the Human Resources Committee of the Board of Directors of Holdings (with such approval not to be unreasonably withheld); and

                        (vii)      “Severance Period” shall mean the period commencing on the date of
Executive’s termination of employment and continuing for twenty-four months; provided, however, that for purposes of providing Continuation Coverage under paragraph 5.1, the “Severance Period” shall mean the period commencing on the date of
Executive’s termination of employment and continuing until the earlier of (1) the date that is twenty-four months after the date of Executive’s termination of employment or (2) the date upon which Executive ceases to be eligible to receive continuation
coverage under the Company’s plans pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, and/or Sections 601 through 608 of the Employee Retirement Income Security Act of 1974, as amended.

            As used for purposes of Flight Privileges, with respect to any year, “Annual Travel Limit” shall mean an amount (initially $38,732.00) granted annually (on a calendar-year basis and
effective January 1 of each year) by Company to Executive (such amount to be the same as that granted annually to officers of Continental who are Vice Presidents of Continental, but no less than the amount granted with respect to Executive for the flight benefits
program year 2009.

            As used for purposes of Flight Privileges, with respect to any year, the term “Annual Gross Up Limit” shall mean an amount (initially $38,732.00) granted annually (on a calendar-year
basis and effective January 1 of each year) by Company to Executive (such amount to be the same for each officer of Company within an officer category and no less than the amount granted with respect to Executive for the flight benefits program year 2009), which
amount shall be adjusted automatically upon any change in the valuation methodology used to determine imputed income from flights (as compared with the valuation methodology for imputed income from flights used by Company as of November 1, 2008), so as to preserve
the benefit of $38,732.00 annually of tax gross up relative to the valuations resulting from the valuation methodology used by Company as of November 1, 2008 (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 Company as of November 1, 2008, then the Annual Gross Up Limit would be increased by 15%.  In determining any adjustment, Company 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 will be provided to Executive upon request.  Company will
promptly notify Executive in writing of any adjustments to the Annual Gross Up Limit described in this paragraph.  Subject to the Annual Gross Up Limit, the amount of the annual gross up to be paid to Executive shall be paid no later than
January 31 of the calendar year following the calendar year for which it was awarded.  Any portion of the Annual Gross Up Limit that remains unused at the end of the calendar year for which it was awarded shall expire and be of no further use or value. 
In the event Executive’s Flight Privileges no longer extend to airlines operated by Continental or its affiliates, the Annual Travel Limit and the Annual Gross Up Limit, as defined above and as the same may have been adjusted prior to such time as contemplated
herein, shall each be reduced by 50 percent and shall thereafter continue in effect and shall be adjusted from time to time as contemplated in the foregoing paragraphs.

            As used for purposes of tax reporting of Flight Privileges, a year may consist of twelve consecutive months other than a calendar year, it being Company’s practice as of the date hereof for
purposes of the tax reporting of Flight Privileges to calculate taxable amounts for a calendar year based on the fiscal period commencing on November 1 and ending on the following October 31 (for example, Flight Privileges used (i.e. “flown”) during the
twelve-month period from November 1, 2008 to October 31, 2009 are reported as a taxable benefit for year 2009).

            As used for purposes of Flight Privileges, the term “affiliates” when used with respect to Company, means any entity controlled by, controlling, or under common control with
Company.  For these purposes control of an entity shall require the direct or indirect ownership of a majority of the outstanding capital stock or other voting interests of such entity. For purposes of Flight Privileges, however, Continental and Company shall
not be deemed affiliates.

            No tickets issued on the System in connection with the Flight Privileges may be purchased other than directly from Company, Continental, Holdings 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 Executive 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. 
Executive agrees that, after receipt of an invoice or other accounting statement therefor, she will promptly (and in any event within 45 days after receipt of such invoice or other accounting statement) reimburse Company, Continental or Holdings, as appropriate, for
all charges on her UATP card (or Similar Card) that are not for flights on the System and that are not otherwise reimbursable to Executive 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.  Executive agrees that the credit availability under Executive’s UATP card (or Similar Card) may be suspended if Executive does not timely reimburse Company, Continental or Holdings, as appropriate, as
described in the foregoing sentence or if Executive exceeds the applicable Annual Travel Limit with respect to a year; provided, that, immediately upon Company’s, Continental’s or Holdings’, as appropriate, receipt of Executive’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 Executive’s UATP card (or Similar Card) will be restored.

            The sole cost to Executive of flights on the System pursuant to use of Executive’s Flight Privileges will be the imputed income with respect to flights on the System charged on
Executive’s UATP card (or Similar Card), calculated throughout the term of Executive’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 Executive as required by applicable law.  With respect
to any period for which Company is obligated to provide the tax gross up described above, Executive will provide to Company, upon request, a calculation or other evidence of Executive’s marginal tax rate sufficient to permit Company to calculate accurately the
amount to be paid to Executive.

            Executive will be issued a UATP card (or Similar Card) and an appropriate flight pass identification card, each valid at all times during the term of Executive’s Flight Privileges.

            Flight Privileges are intended to be used solely for personal reasons and may not be used for business purposes. Accordingly, notwithstanding any provision herein to the contrary, credit
availability on Executive’s UATP card (or any Similar Card) may be suspended, and Executive’s UATP card (or any Similar Card) may be revoked or cancelled, if Executive’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 the Company to cease such usage, Executive again uses her UATP card (or any Similar Card) for any business purpose (other than business on behalf of Company).  The parties agree that the
Company’s and Holdings’ obligations regarding Flight Privileges extend to the System.

            5.5       Code Section 280G Provisions.  Notwithstanding any other provision of this Agreement, if by reason of Section 280G of the Code any
payment or benefit received or to be received by Executive in connection with a Change in Control or the termination of Executive’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
to Executive shall, after such reduction, exceed the net after-tax benefit received by Executive if no such reduction had been made and provided that if any reduction is required, the Contract Payments (that constitute “parachute payments” within the
meaning of Section 280G of the Code) with the latest payment date shall be reduced first.  The foregoing determination and all determinations under this paragraph 5.5 shall be made by the Accountants (as defined below).  For purposes of this paragraph,
“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 Executive (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 Executive shall
have effectively waived in writing prior to the date of payment of a severance benefit to Executive hereunder 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 paragraph 5.5, 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.

            5.6       Code Section 409A Provisions.  Notwithstanding any other provision of this Agreement, the following provisions shall apply:

                        (i)         Executive shall be considered to have terminated employment with Company
only when Executive incurs a “separation from service” with respect to Company within the meaning of Section 409A(a)(2)(A)(i) of the Code and applicable administrative guidance issued thereunder;

                        (ii)        to the extent that Executive is a specified employee, as defined in Treasury
regulation section 1.409A-1(i), and any stock of Company or of any affiliate is publicly traded on an established securities market or otherwise, no payment or benefit that is subject to Section 409A of the Code shall be made under this Agreement on account of
Executive’s separation from service with Company within the meaning of Section 409A(a)(2)(A)(i) of the Code before the date that is the first day of the seventh month beginning after the date of Executive’s separation from service (or, if earlier, the
date of death of Executive or any other date permitted under Section 409A of the Code).  The foregoing delay shall not apply to any payment or benefit hereunder if, pursuant to Treasury regulation section 1.409A-1(b)(9)(iii), such payment or benefit to be
received by Executive hereunder due to an involuntary separation from service does not exceed two times the lesser of (1) Executive’s annualized compensation based upon Executive’s annual rate of pay for services during the taxable year of Executive
preceding the year in which the termination of employment occurs (adjusted for any increase during that year that was expected to continue indefinitely had no termination of employment occurred) or (2) the maximum amount that may be taken into account under a
qualified plan pursuant to Section 401(a)(17) of the Code for the year in which Executive has a separation from service, and that is paid no later than the last day of the second year following the year in which the separation from service occurs;

                        (iii)       to the extent that any reimbursement is received or to be received by Executive,
such reimbursements shall be administered consistent with the following additional requirements as set forth in Treasury regulation section 1.409A-3(i)(1)(iv):  (1) Executive’s eligibility for benefits in one taxable year will not affect Executive’s
eligibility for benefits in any other taxable year, (2) any reimbursement of eligible expenses will be made on or before the last day of the taxable year following the taxable year in which the expense was incurred, and (3) Executive’s right to benefits is not
subject to liquidation or exchange for another benefit; and

                        (iv)       to the extent that any payment or benefit to be received by Executive hereunder is
to be offset hereunder (by way of example, pursuant to paragraph 5.1 whereby the Company may set off any amounts owed by Executive to Company against any obligation to pay the Monthly Severance Amount), such offset may occur only if it would not result in an
impermissible acceleration or deferral under Section 409A of the Code.

ARTICLE VI:  MISCELLANEOUS

            6.1       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.

                                                           
700 N. Sam Houston Parkway West, Suite 200

                                                           
Houston, Texas 77067

                                                           
Attention:  Chief Executive Officer

            If to Executive to:                     Suzanne Lehman Johnson

                                                           
4042 Blue Bonnet Blvd.

                                                           
Houston, Texas 77025

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.

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

            6.3       No Waiver.  No failure by either party hereto at any time to give notice of 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.

            6.4       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.

            6.5       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.

            6.6       Withholding of Taxes and Other Employee Deductions.  Company and its affiliates 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  employees generally.

            6.7       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.

            6.8       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.

            6.9       Successors.  This Agreement shall be binding upon and inure to the benefit of Company and its 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 by any means whether direct or indirect, by purchase, merger,
consolidation, or otherwise.  Except as provided in the preceding sentence and in paragraph 1.2, 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 party.

            6.10     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.

            6.11     Entire Agreement.  Except as provided in (i) the benefits, plans, and programs referenced in paragraph 3.3 and any awards under
Holdings’ or Company’s stock incentive plans, management bonus programs or similar plans or programs adopted by Company or Holdings after the Effective Date and (ii) separate agreements (if any) governing Executive’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 Executive by Company.  Any modification of this Agreement shall be effective only if it is in writing and signed by the party to be charged.

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

[Signatures begin on the following page.]

            IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the 19th  day of November, 2009, to be effective as of the Effective Date.

                                                                                   
ExpressJet Holdings, Inc.

                                                                                   
By:       /s/James B. Ream                 

                                                                                                
James B. Ream

                                                                                               
President and

                                                                                               
Chief Executive Officer

                                                                                   
“Executive”

                                                                                   
_/s/Suzanne L. Johnson________

                                                                                   
Suzanne Lehman JohnsonExhibit 10.12

SEVERANCE AGREEMENT AND RELEASE

Karen P. Miles (“Employee”) and ExpressJet Airlines, Inc. ("ExpressJet" or "the Company") enter this Severance Agreement and Release ("Agreement").  ExpressJet and Employee wish to sever amicably their employment relationship at the time of
Employee’s retirement, following a transition period, on mutually agreeable terms as set forth in detail below.

Employee and ExpressJet agree as follows:

1.         Amendment to Employment Agreement:  The Amended and Restated Employment Agreement dated as of April 10, 2008, by and between ExpressJet and Employee (the "Employment Agreement") is hereby amended by
deleting (a) clause (C) from the first sentence of Section 4.1 of the Employment Agreement and (b) the second sentence of Section 4.1 of the Employment Agreement. 

2.         Consideration:  After January 31, 2010 (the "Resignation Date") and subject to the execution of this Agreement by both parties and Employee’s non-revocation of this Agreement pursuant to Section
11 hereof, ExpressJet shall provide the following:

                        a.         Lump Sum Severance Payment:  A one time lump sum severance
payment in an aggregate amount equal to twenty-four (24) months base pay, calculated based on Employee’s base pay as in effect on the Resignation Date, less applicable deductions permitted or required by law.  Such amount shall be paid on a date selected
by ExpressJet that is within 30 days following the Resignation Date.  This benefit may not be combined by Employee with any other similar severance, wage, payment, compensation, or bonus benefit from ExpressJet or ExpressJet Holdings, Inc. ("Holdings") stemming
from any employment contract, agreement, program, benefit, or award, including but not limited to those set forth in the Employment Agreement, unless specifically set forth in the remaining portions of this Agreement.

                        b.         Health Benefits Coverage: Employee shall be eligible to continue
any medical, dental, and vision benefits provided under an ExpressJet-sponsored benefit plan for Employee and any eligible spouse or domestic partner and any eligible dependents under the terms of the applicable benefit program to the extent such individuals were
actually enrolled for such benefit coverage on the day immediately prior to Employee’s last day worked for a total period of eighteen (18) months beginning on the day immediately following the Resignation Date ("Health Benefits Coverage").  Employee
contribution amounts shall be equal to the then-current contribution amounts for active employees with like coverage.  Active employee rates are subject to change during such 18-month period to the extent that such rates change for other employees of
ExpressJet.  In addition, ExpressJet reserves the right to change, amend, and modify the terms of its plans and benefits, including the plans pertaining to this Health Benefits Coverage.  Health Benefits Coverage shall depend upon Employee’s timely
payment of all required employee contributions. 

The Health Benefits Coverage described in this Section 2b shall be offered solely as an alternative to any COBRA continuation coverage applicable to any group health plan sponsored by ExpressJet that is otherwise available to Employee.  As required by Federal
law, Employee will also be offered COBRA continuation coverage at termination of employment; however, the employee contribution amount for COBRA continuation coverage will be at the then-current COBRA contribution amount.  If Employee does not timely elect COBRA
continuation coverage, then Employee will be deemed to have elected Health Benefits Coverage.

                        c.         Restricted Stock / Stock Options:   
Consistent with the terms of any applicable plans, all of Employee’s unvested restricted stock as of the Resignation Date attributable to grants made to Employee pursuant to the terms of an ExpressJet Holdings, Inc. stock incentive plan shall vest upon the
Resignation Date.  Further, (i) any unvested stock options previously granted to Employee pursuant to the terms of an ExpressJet Holdings, Inc. stock option agreement and outstanding as of the Resignation Date shall vest upon the Resignation Date and (ii) the
period for exercising any such stock options shall be extended until one (1) year after the Resignation Date (but in no event later than the earlier of the latest date upon which the stock option could have expired by its original terms under any circumstances or the
tenth anniversary of the original date of grant of the stock option).

                        d.         Long Term Incentive Plan:  In full settlement of any remaining
incentive bonus offered to Employee under the ExpressJet Holdings, Inc. Long Term Incentive Plan adopted effective January 1, 2006, as amended ("LTIP1"), Employee will receive her LTIP1 payment for calendar year 2009 pursuant to the terms of the ExpressJet Holdings,
Inc. Long Term Incentive Participation Agreement for such year on the terms and at the time provided in such agreement, less applicable deductions permitted or required by law.  Employee will not receive any new LTIP or similar awards after the date of this
Agreement.  Apart from the payment described in this Section 2d, from and after the Resignation Date Employee will have no other rights or continued interest in management bonus plans, other long term incentive plans, or other compensation structures, plans,
benefits, or contracts, other than as specifically provided for in this Agreement.

                        e.         Pass Privileges:  Employee has met ExpressJet’s
criteria for Retirement both in terms of age and employment service and shall continue eligibility for UATP benefits without interruption pursuant to the terms of Employee’s Flight Privileges Agreement dated December 27, 2007, by and among Continental Airlines,
Inc., Holdings, the Company and Employee (the "Flight Privileges Agreement").  The Flight Privileges Agreement is specifically intended to survive and is not altered in any manner by this Agreement.

Retiree Passes:  In addition to the foregoing, Employee will be eligible for Retiree-status (lifetime) passes ("Retiree Passes") on Continental Airlines, Continental Express, and Continental Micronesia under ExpressJet’s Retiree Pass policies as
in effect from time to time.   NOTE:  ANY FUTURE CHANGES IN THE AGREEMENTS AND POLICIES BETWEEN EXPRESSJET AND/OR HOLDINGS AND CONTINENTAL AIRLINES, INC. OR OTHER CARRIERS REGARDING PASS TRAVEL BY EMPLOYEES OR FORMER EMPLOYEES MAY RESULT IN CHANGES
TO OR ELIMINATION OF EMPLOYEE’S ELIGIBILITY FOR RETIREE PASSES.  IN ADDITION, IN THE EVENT THAT EXPRESSJET’S OR HOLDINGS’S FLIGHT PASS PROGRAM ON ANY OF THE LISTED CARRIERS IS TERMINATED, REVOKED, AMENDED, OR CEASES TO EXIST, EMPLOYEE MAY NO
LONGER RECEIVE PASSES. 

If Employee would be subject to additional taxes and interest under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), because Employee’s right to use Retiree Passes or other miscellaneous benefits is not delayed as
provided in Section 409A(a)(2)(B)(i) of the Code and the regulations thereunder, then Employee shall be able to use Employee’s Retiree Passes and/or miscellaneous benefits during the six-month period following Employee’s termination of employment only to
the extent that such benefits used during such period (together with any other miscellaneous separation pay benefits subject to Section 409A of the Code that are provided to Employee during such period) have an aggregate value that is not in excess of the applicable
dollar amount under Section 402(g)(1)(B) of the Code for the year in which such termination of employment occurs.

ExpressJet Branded Flight Passes:  In addition to the foregoing, following a six month waiting period from the Resignation Date, Employee shall be eligible for positive space travel on flights operated by ExpressJet over its XE branded route network,
if any, on an annual basis in accordance with the terms of ExpressJet’s travel programs as they exist from time to time and as they are applied to current vice presidents (subject to any modifications required to comply with Section 409A of the Code). 
Future changes in ExpressJet’s travel programs, routes, or services may reduce or eliminate this benefit.

Misuse of Passes:  ExpressJet may terminate any of Employee’s Retiree or ExpressJet Branded Flight Passes (collectively “Flight Passes”) described in this Agreement in the event that ExpressJet determines, in its sole discretion, that
Employee or any other person flying under Employee’s Flight Passes (i) abused a Flight Pass, or (ii) participated in or contributed to disruptive conduct or otherwise violated ExpressJet’s pass policies in effect from time to time.

Tax consequences:  Employee acknowledges that Employee is responsible for the tax consequences associated with Employee’s use of any of the foregoing pass privileges or Flight Passes. 

                        f.          Employment with
Competitors:         Provided that Employee abides by all continuing obligations to protect confidential and proprietary information of ExpressJet, whether protected by common law, policy, program, or agreement, ExpressJet
will not object to Employee’s employment with a competitor of ExpressJet following the Effective Date, nor will ExpressJet take action to enforce any prohibitions against Employee’s post-employment competition based on the terms of the Employment
Agreement.

3.         No other payment due: ExpressJet provides the consideration stated above in full satisfaction of and in lieu of any salary, bonuses, commissions, stock options, or other remuneration or benefits due or
claimed to be due to Employee from the Company, Holdings, or their subsidiaries or affiliates. Employee understands and agrees that, except for any vested benefits Employee may have in ExpressJet’s 401(k) Savings Plan pursuant to the terms of that plan and in
accordance with the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), Employee will not be entitled to any other compensation than what is set forth above. 

4.         Resignation and Last Date Worked:  Effective as of the Resignation Date, Employee irrevocably resigns from Company and all of its subsidiaries and affiliates and from all positions relating to the
employee benefit plans maintained by the Company and all of its subsidiaries and affiliates; this resignation will be effective as of the close of business on the Resignation Date.   Employee will execute and submit a letter of resignation in a form
satisfactory to the Company dated on the Resignation Date.

5.         Company property:  Employee agrees to return all Company property in Employee’s possession, custody, or control on or before Employee’s last date of work, except to the extent that
Employee has received authorization through ExpressJet’s legal department to continue use of certain electronic devices which have been cleared of confidential data through ExpressJet’s Information Technology Department.

6.         Re-hire status: Employee understands and agrees that ExpressJet has no obligation, contractual or otherwise, to rehire or hire Employee. 

7.         References:  Employee agrees not to make any derogatory comments or references about the Company, its parent, its subsidiaries or affiliates, or their respective stockholders, officers, directors,
employees or agents.  If Employee refers prospective employers or others to ExpressJet’s Human Resources Department, it will respond to inquiries so directed by verifying the position Employee held and dates of employment.

8.         Transition and Future Investigations:  Employee agrees to remain employed with ExpressJet from the Effective Date through the Resignation Date ("the Transition Period") in order to assist the Company
in the effective transition of information and the training of personnel in a manner that will best serve the interests of ExpressJet as her responsibilities are assumed by other officers and employees of the Company.  During the Transition Period, Employee will
be employed by the Company pursuant to the terms and conditions of the Employment Agreement, including any applicable change of control provisions.  Should a change of control occur prior to the Resignation Date, Employee may elect to adhere to the terms of this
Agreement or the terms of her Employment Agreement as they existed prior to the execution of this Agreement but may not receive benefits under both and may not have benefits that are overlapping or duplicative.   Further, during the Transition Period and
following Employee’s resignation, Employee agrees to furnish information and proper assistance to the Company, Holdings, and their subsidiaries and affiliates as may be reasonably required in connection with any investigation or litigation in which any of them
is or may become a party.  Employee’s ongoing duty to protect ExpressJet’s confidential and proprietary information from disclosure shall apply to information shared during Employee’s participation in any activities covered by this
paragraph.

9.         Confidentiality:  Except as required by law, Employee represents and agrees that Employee will keep the terms, amount and fact of this Agreement completely confidential and that Employee will
not hereafter disclose any information concerning this Agreement to anyone, including, but by no means limited to, any past, present, or prospective employee or applicant for employment of the Company.  As an exception, Employee may disclose the terms of this
Agreement to legal advisors, financial advisors, and accountants, but with the condition that the persons receiving such information must maintain it in strict confidence.  Further, Employee acknowledges and agrees that ExpressJet’s rules, policies, and
programs governing the protection of ExpressJet’s confidential and proprietary information are ongoing and continue to bind Employee following the Effective Date.  Employee agrees not to disclose confidential and proprietary information of ExpressJet that
is subject to protection under ExpressJet’s rules, policies, and programs.  Nothing contained herein shall be construed to limit or otherwise restrict the Company's ability to disclose the terms and conditions of this Agreement.

10.       Release and Covenant Not to Sue:  Employee hereby irrevocably and unconditionally releases, acquits, and forever discharges the Company, Holdings, XJT Holdings, Inc., their subsidiaries and affiliates, and
its and their stockholders, directors, officers, employees, representatives, agents, and attorneys, and all persons acting by, through, under or in concert with any of them (collectively "Releasees"), from any and all claims, liabilities, or causes of action of any
nature whatsoever, known or unknown, arising prior to the date of execution of this Agreement.  Employee agrees that she will affirm this covenant and the release set forth below on her Resignation Date.

Employee hereby releases the Releasees from any and all claims arising out of Employee’s employment with or separation from employment with any Releasee, including, but not limited to, any claims for breach of contract or implied contract, all claims for
benefits (except vested benefits), all claims under the Age Discrimination in Employment Act, as amended by the Older Workers Benefit Protection Act, 29 U.S.C. §621, et seq., the Employee Retirement Income Security Act of 1974, 29 U.S.C.
§1001, et seq., the Family and Medical Leave Act of 1993, 29 U.S.C. §2601 et seq., Title VII of the Civil Rights Act of 1964, 42 U.S.C. §2000e, et seq., as amended, the Americans With Disabilities Act, 29
U.S.C. §12101, et seq.,  the Fair Labor Standards Act, 29 U.S.C. §201 et seq., the Worker Adjustment and Retraining Notification Act, the Conscientious Employee Protection Act, any state anti-discrimination statutes, and any
other statutory, tort, contract or common law causes of action.  The parties agree that the Agreement is to be broadly construed in favor of the Releasees. Employee also certifies that she has no unreported on-the-job injuries.  Employee covenants not to
sue Releasees on any of the matters of the type enumerated above and hereby waives any right, promise, covenant, action, cause of action, claim, representation, controversy, contract, agreement, restitution, demand, or damage of any nature whatsoever.

11.       Effective Date and Important Rights: Employee has twenty-one (21) days from the date of receipt of this document to consider this offer. Employee acknowledges that she has had 21 days to consider this offer or
has voluntarily waived this right.  This Agreement will become effective, enforceable and irrevocable (except as otherwise expressly provided in Section 8 hereof) upon the expiration of the seven-day period beginning on the date Employee delivers this Agreement
to ExpressJet (such seven-day period being referred to herein as the “Release Revocation Period” and the date upon which this Agreement becomes irrevocable being referred to herein as the “Effective Date”).  During the Release Revocation
Period, Employee may exercise the right to revoke this Agreement in writing addressed and delivered to Suzanne L. Johnson, General Counsel.  Of course, if Employee exercises the right to revoke, Employee will forfeit the right to receive severance payments and
other benefits under this Agreement.

12.       Employee Acknowledgment of Rights: Employee is advised to consult an attorney regarding this Agreement.  Employee represents and agrees that Employee has been advised to and has had the
opportunity to thoroughly discuss all aspects of this Agreement with Employee’s private attorney, that Employee has carefully read and fully understands all of the provisions of this Agreement, and that Employee is knowingly entering into this
Agreement.

13.       No Admission:  This Agreement shall not be construed in any way as an admission by the Company of any unlawful acts against Employee or any other person.  The Company specifically disclaims any unlawful acts
or liability to Employee or any other person, on the part of itself, its employees, or its agents.  Similarly, this Agreement shall not be construed in any way as an admission by Employee of any unlawful acts or that any just cause existed to discharge
Employee.  Both parties acknowledge that Employee’s separation is supported by legitimate business reasons related to the restructuring of the Company.

Entire Agreement:  Except as provided in ExpressJet’s or Holdings’s written benefit plans, stock plans, and programs, as referenced above, in the Flight Privileges Agreement, and in ExpressJet’s rules, policies, and programs governing the
protection of ExpressJet’s confidential and proprietary information, which are ongoing and referenced herein, this Agreement constitutes the entire agreement of the parties with regard to the subject matter hereof, and contains all the covenants, promises,
representations, warranties and agreements between the parties with respect to Employee’s employment and severance from employment with ExpressJet.  Without limiting the scope of the preceding sentence, except as expressly provided herein, all prior
understandings and agreements among the parties hereto relating to the subject matter hereof (including, without limitation, the Employment Agreement) are hereby null and void and of no further force and effect.

Governing Law:  This Agreement is made under the laws of the State of Texas and shall be interpreted and governed under the laws of Texas.

PLEASE READ CAREFULLY.  THIS SEVERANCE AGREEMENT AND RELEASE INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS ARISING PRIOR TO ITS EXECUTION.

/s/Karen P. Miles                             
                        Date Signed:  June 15,
2009                       

KAREN P. MILES

EXPRESSJET AIRLINES, INC.

By:       /s/James B. Ream                                
                        Date Signed:   June 15,
2009               

 Title: President and CEO

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