Document:

Exhibit 10.38(a)

                                                                                                                          exhibit 10.38(a)

AMENDMENT NO.1
RATE PER ENGINE FLIGHT HOUR
ENGINE SERVICES AGREEMENT No. 1-3036849991-0

WHEREAS, GE Engine Services, LLC (hereinafter individually referred to as “GE” or “Party”) and JetBlue Airways Corporation (hereinafter referred to as “Customer” or “Party”) have entered into an OnPointTM Solutions Rate Per Engine Flight Hour Engine Services Agreement No. 1-164036430-1 dated May 1, 2013 (the “Agreement”). Capitalized terms used herein but not defined in this Amendment shall have the meaning ascribed to them in the Agreement.

WHEREAS, the Parties wish to amend the Agreement to reflect their mutual agreement to (i) extend the Initial Term and to (ii) add scrap cause LLP replacement in the Covered Services, beginning on January 1, 2014 (this “Amendment”).  

NOW THEREFORE, in consideration of the mutual covenants herein contained, the Parties agree to the following:

		
	1.
	Article 2.1 – Term.  The first sentence of Article 2.1 shall be deleted in its entirety and replaced with the following:

Each Party’s obligation to perform will commence upon May 1, 2013 and such obligation will continue, unless sooner terminated through June 30, 2024 (the “Initial Term”).

		
	2.
	Article 3.1 – Covered Services. Article 3.1(b)(iv), shall be deleted in its entirety and replaced with the following:

		
	(1)
	[***]

		
	(2)
	[***] 

		
	3.
	Article 4.1 – Supplemental Work. Article 4.1(c)(xiii) of the Agreement shall be deleted in its entirety and replaced with the following:

[***] 

		
	4.
	Article 5.1 – Rate Per EFH Pricing. Article 5.1 of the Agreement shall be deleted in its entirety and replaced with the following:

Rate per EFH Pricing.  Unless otherwise stated, all rates and prices are in [***] US Dollars.  Rate Per EFH Services will be performed by GE at the Rate Per EFH as follows:

Rate Per EFH: $[***] USD from the Effective Date through December 31, 2013.

Rate Per EFH: $[***] ([***] USD subject to escalation per Exhibit C) from January 1, 2014.

		
	5.
	Article 5.2 - Rate Per EFH Parameters. Article 5.2 of the Agreement shall be deleted in its entirety and replaced with the following:

The Rate Per EFH is predicated on the following parameters:

[***]    Represents material which has been redacted and filed separately with the Commission pursuant to a request for confidential treatment pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.
1

                                                                                                                          exhibit 10.38(a)

	
					
	Engines:

[***]
	Utilization:

[***]
	EFH/EFC Ratio:

[***]
	Take-Off Derate:

[***]
	Static Temperature Adjusted to Sea Level:

[***]

[***] 

		
	6.
	Article 5.5(c) LLP Pricing.  Article 5.5(c) of the Agreement shall be deleted in its entirety and replaced with the following:

Customer replaces [***] with new LLP purchased exclusively from GE or LLP retained by Customer for future use in its fleet per Article 7.7e.

		
	7.
	Article 7.7 – Parts Replacement Procedures. Article 7.7(e) of the Agreement shall be deleted in its entirety and replaced with the following:

[***]

		
	8.
	Article 11.2 – Reconciliation. A new Subsection 11.2(c) shall be inserted as follows:

Notwithstanding anything to the contrary, any Engines removed from the Agreement due to lease return to the lessor per the schedule in exhibit M [***].  

GE acknowledges that Customer, in its sole discretion, has the right at lease return to provide to the lessor, the original engines installed on the airframe or engine(s) that are the same make and model as the engine(s) originally installed, or an improved model that is suitable for installation and use on the airframe, and that has value, utility and remaining useful life, similar to the engine(s) being replaced thereby.

		
	9.
	Exhibit B: Engines Covered is replaced in its entirety with a new Exhibited B, as attached hereto, to reflect updated Engines Covered.   

		
	10.
	Exhibit M: Engine Lease Return Dates shall be added to the Agreement, as attached hereto.

All other terms and conditions contained in the Agreement which are not modified by this Amendment No.1, shall remain in full force and effect.

[***]    Represents material which has been redacted and filed separately with the Commission pursuant to a request for confidential treatment pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.
2

                                                                                                                          exhibit 10.38(a)

IN WITNESS WHEREOF, this Amendment has been duly executed by each of the Parties as of the day and year written below.

	
		
	JETBLUE AIRWAYS CORPORATION
	GE ENGINE SERVICES, LLC

	

/s/ Mark D. Powers
	

/S/ Michael P. Munz

	SIGNATURE
	SIGNATURE

	

Mark D. Powers
	

Michael P. Munz

	PRINTED NAME
	PRINTED NAME

	

Chief Financial Officer
	

GM – N. America Sales

	TITLE
	TITLE

	

12/22/2014
	

12/23/2014

	DATE OF EXECUTION
	DATE OF EXECUTION

[***]    Represents material which has been redacted and filed separately with the Commission pursuant to a request for confidential treatment pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.
3

                                                                                                                          exhibit 10.38(a)

EXHIBIT B: ENGINES COVERED
[***]

Engine Serial Numbers (ESNs) listed below may be modified by future acquisition/disposition and shall be updated and amended to this Agreement two times per Calendar year by June 30 and December 30 annually. 
	
										
	No.
	Engine Serial Number
	No.
	Engine Serial Number
	No.
	Engine Serial Number
	No.
	Engine Serial Number
	No.
	Engine Serial Number

	1
	424112
	31
	424563
	61
	994171
	91
	994283
	121
	994855

	2
	424113
	32
	424564
	62
	994175
	92
	994284
	122
	994879

	3
	424132
	33
	424587
	63
	994176
	93
	994294
	123
	994880

	4
	424137
	34
	424588
	64
	994177
	94
	994310
	124
	994881

	5
	424165
	35
	994123
	65
	994178
	95
	994311
	125
	994882

	6
	424166
	36
	994124
	66
	994179
	96
	994343
	126
	994919

	7
	424223
	37
	994125
	67
	994180
	97
	994344
	127
	994925

	8
	424225
	38
	994126
	68
	994188
	98
	994388
	128
	994926

	9
	424250
	39
	994127
	69
	994189
	99
	994389
	129
	994935

	10
	424252
	40
	994128
	70
	994191
	100
	994427
	130
	994948

	11
	424273
	41
	994129
	71
	994196
	101
	994428
	 
	 

	12
	424275
	42
	994130
	72
	994197
	102
	994506
	 
	 

	13
	424286
	43
	994134
	73
	994198
	103
	994508
	 
	 

	14
	424294
	44
	994135
	74
	994201
	104
	994512
	 
	 

	15
	424302
	45
	994136
	75
	994202
	105
	994513
	 
	 

	16
	424313
	46
	994141
	76
	994205
	106
	994589
	 
	 

	17
	424394
	47
	994142
	77
	994206
	107
	994590
	 
	 

	18
	424395
	48
	994143
	78
	994207
	108
	994645
	 
	 

	19
	424440
	49
	994144
	79
	994212
	109
	994647
	 
	 

	20
	424449
	50
	994147
	80
	994217
	110
	994659
	 
	 

	21
	424498
	51
	994148
	81
	994226
	111
	994664
	 
	 

	22
	424499
	52
	994155
	82
	994228
	112
	994695
	 
	 

	23
	424531
	53
	994157
	83
	994238
	113
	994696
	 
	 

	24
	424534
	54
	994159
	84
	994251
	114
	994718
	 
	 

	25
	424546
	55
	994160
	85
	994254
	115
	994719
	 
	 

	26
	424550
	56
	994162
	86
	994264
	116
	994720
	 
	 

	27
	424557
	57
	994164
	87
	994265
	117
	994726
	 
	 

	28
	424559
	58
	994167
	88
	994266
	118
	994727
	 
	 

	29
	424561
	59
	994168
	89
	994273
	119
	994728
	 
	 

	30
	424562
	60
	994169
	90
	994274
	120
	994729
	 
	 

[***]    Represents material which has been redacted and filed separately with the Commission pursuant to a request for confidential treatment pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.
4

                                                                                                                          exhibit 10.38(a)

Exhibit M
Engine Lease Return Dates Schedule
(may be modified between Customer and lessor pursuant to the underlying lease agreement)
	
					
	Count
	Aircraft
	Type
	Lease End Date
	Initial Engine Serial Numbers

	1
	N183JB
	E190
	[***]
	E994123 
E994128

	2
	N179JB
	E190
	[***]
	E994125 
E994126

	3
	N184JB
	E190
	[***]
	E994127 
E994124

	4
	N187JB
	E190
	[***]
	E994129 
E994130

	5
	N190JB
	E190
	[***]
	E994134 
E994136

	6
	N192JB
	E190
	[***]
	E994143 
E994144

	7
	N193JB
	E190
	[***]
	E994147 
E994148

	8
	N197JB
	E190
	[***]
	E994160 
E994162

	9
	N198JB
	E190
	[***]
	E994155 
E994157

	10
	N203JB
	E190
	[***]
	E994159 
E994164

	11
	N206JB
	E190
	[***]
	E994167 
E994168

	12
	N216JB
	E190
	[***]
	E994169 
E994171

	13
	N228JB
	E190
	[***]
	E994175 
E994188

	14
	N229JB
	E190
	[***]
	E994177 
E994178

	15
	N231JB
	E190
	[***]
	E994180 
E994179

	16
	N236JB
	E190
	[***]
	E994191 
E994217

	17
	N238JB
	E190
	[***]
	E994176

	E994196

	18
	N239JB
	E190
	[***]
	E994197

	E994198

	19
	N247JB
	E190
	[***]
	E994201

	E994202

	20
	N249JB
	E190
	[***]
	E994205

	E994206

	21
	N258JB
	E190
	[***]
	E994207

	E994212

[***]    Represents material which has been redacted and filed separately with the Commission pursuant to a request for confidential treatment pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.
5

                                                                                                                          exhibit 10.38(a)

	
					
	Count
	Aircraft
	Type
	Lease End Date
	Initial Engine Serial Numbers

	22
	N265JB
	E190
	[***]
	E994226

	E994228

	23
	N266JB
	E190
	[***]
	E994265

	E994266

	24
	N267JB
	E190
	[***]
	E994273

	E994274

	25
	N274JB
	E190
	[***]
	E994254

	E994264

	26
	N273JB
	E190
	[***]
	E994284

	E994283

	27
	N279JB
	E190
	[***]
	E994310

	E994311

	28
	N281JB
	E190
	[***]
	E994343

	E994344

	29
	N283JB
	E190
	[***]
	E994389

	E994388

	30
	N284JB
	E190
	[***]
	E994427

	E994428

[***]    Represents material which has been redacted and filed separately with the Commission pursuant to a request for confidential treatment pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.
6Exhibit 10.41

exhibit 10.41

This AGREEMENT is dated as of February 12, 2015, by and between JetBlue Airways Corporation, a Delaware corporation (the “Company”), and Robin Hayes, an individual (the “Executive”). 
WHEREAS, the Company and the Executive desire to enter into an employment agreement;  
NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, it is hereby agreed as follows: 

1. Employment and Duties. 
(a) General. The Executive shall serve as the Chief Executive Officer of the Company, reporting to the Board of Directors of the Company (the “Board”). The Executive shall have such duties and responsibilities, commensurate with the Executive’s position, as may be assigned to the Executive from time to time by the Board. The Executive’s principal place of employment shall be the principal offices of the Company currently located in the New York City area; provided, however, that the Executive understands and agrees that he will be required to travel from time to time for business reasons. 
(b) Exclusive Services. For so long as the Executive is employed by the Company, the Executive agrees that he will devote his primary care and attention to the business of the Company.  The Executive agrees that he will faithfully serve the Company, will in all respects conform to and comply with the lawful and good faith directions and instructions given to him by the Board and will use his best efforts to promote and serve the best interests of the Company. The Executive may from time to time serve on civic or charitable boards and/or engage in charitable activities or other business activities provided that they do not interfere with his responsibilities to the Company and do not constitute an actual or apparent conflict of interest to the Company.  In addition, Executive will not assist any person or entity in competing with the Company, in preparing to compete with the Company or in hiring any employees or consultants of the Company. 

2. Term of Employment. The Executive’s employment under this Agreement shall commence on February 16, 2015 (the “Effective Date”) and shall terminate on the earlier of (i) February 28, 2018 or (ii) the termination of the Executive’s employment under this Agreement. The period from the Effective Date until the termination of the Executive’s employment under this Agreement is referred to as the “Term.”  The Board may in its sole discretion renew the Agreement for an additional term of three (3) years (“Additional Term”).  

3. Compensation and Other Benefits. Subject to the provisions of this Agreement, the Company shall pay and provide the following compensation and other benefits to the Executive during the Term as compensation for services rendered hereunder: 
(a) Base Salary. On and as of the Effective Date, the Company shall pay to the Executive an annual salary (the “Base Salary”) at the rate of $550,000.00 (Five Hundred Fifty Thousand Dollars and Zero Cents) payable in substantially equal installments at such intervals as may be determined by the Company in accordance with its ordinary payroll practices as established from time to time.  

exhibit 10.41

(b) Bonus. For each fiscal year during the Term, the Executive shall be eligible to receive an annual incentive bonus (the “Bonus” ) as provided by the Company to its senior executives in accordance with the terms then in place, which, at the time of the execution of this Agreement, is a target of 100% of the Executive’s Base Salary, with a range of 0% to 200%; provided, however, that the actual amount of the Bonus shall be reviewed and approved by the Compensation Committee of the Board of Directors (the “Committee”) in its sole and absolute discretion. The Bonus shall be paid at the same time bonuses are paid to other senior executives, but in no event later than March 15 of the year following the fiscal year to which the Bonus relates. Except as otherwise set forth in this Agreement, the Executive must remain continuously employed by the Company through the date on which the Bonus is paid to be eligible to receive such Bonus, provided, however, that the Executive will be eligible to receive the Bonus for the final year of Executive’s employment if he remains employed with the Company through December 31st of the final year.  From time to time, the Committee may determine to modify (including terminating the use of) a bonus element used to compensate its senior executives, including the Executive, and the Executive’s compensation shall then reflect the compensation elements then approved by the Committee and adopted by the Company.
(c) Annual Equity Award.   The Executive shall be eligible to receive an annual award of JetBlue equity (currently in the form of restricted stock units) pursuant to an award agreement and subject to the terms and conditions of the JetBlue Airways Corporation 2011 Incentive Compensation Plan, or any successor plan (the “Plan”). The Executive shall be eligible to receive future Annual Equity Awards as may be determined by the Committee in the exercise of its business judgment, subject to the approval of the Board.  From time to time, the Committee may determine to modify (including terminating the use of) the equity vehicles used to compensate its senior executives, including the Executive, and the Executive’s compensation shall then reflect the equity vehicles then approved by the Committee and adopted by the Company.
(d)  Long Term Equity Award. The Executive shall be eligible to receive an annual award of JetBlue long term equity (currently in the form of three year performance stock units) pursuant to an award agreement and subject to the terms and conditions of the Plan. The Executive shall be eligible to receive future long term equity awards as may be determined by the Committee in the exercise of its business judgment, subject to the approval of the Board.   From time to time, the Committee may determine to modify (including terminating the use of) the equity vehicles used to compensate its senior executives, including the Executive, and the Executive’s compensation shall then reflect the equity vehicles then approved by the Committee and adopted by the Company.
(e)  The elements of the Executive’s compensation (as set forth in 3(a)-(d) above) shall be reviewed and approved by the Committee, based upon the Executive’s performance, not less often than annually, and approved by the Board of Directors.  The Base Salary may be increased from time to time, but not decreased.  As the payment of the Bonus and equity awards are contingent upon performance, those elements are dependent upon the Executive achieving his goals and payouts may vary accordingly.
(e) Savings and Retirement Plans. The Executive shall be entitled to participate in all savings and retirement plans applicable generally to other senior executives of the Company, in accordance with the terms of the plans, as may be amended from time to time. 
(f) Welfare Benefit Plans. The Executive and/or his family shall be eligible to participate in and shall receive all benefits under the Company’s welfare benefit plans and programs applicable generally to other senior executives of the Company, in accordance with the terms of the plans, as may be amended from time to time. 
(g) Expenses. The Company shall reimburse the Executive for reasonable business-related expenses incurred by the Executive in the fulfillment of his duties hereunder in accordance with the applicable expense reimbursement policies and procedures of the Company as in effect from time to time. 

exhibit 10.41

(h) Vacation. The Executive shall be entitled to vacation time consistent with the applicable policies of the Company for senior executives as in effect from time to time. 
(i) Fringe Benefits. The Executive shall be entitled to such fringe benefits as may be available generally to other senior executives of the Company. 
(j) Flight Benefits. During the Term, the Executive shall be entitled to travel privileges consistent with the terms and conditions of the applicable policies of the Company for senior executives as in effect from time to time. 

4. Termination of Employment. 
(a) Termination for Cause. 
If, prior to the expiration of the Term, the Company terminates the Executive’s employment for Cause, as defined in Article II(3) of the JetBlue Airways Corporation Severance Plan (or under any successor plan as may be approved by the Board from time to time) (the “Severance Plan”), or if the Executive resigns from his employment hereunder other than for Good Reason, the Executive shall only be entitled to payment of unpaid Base Salary through and including the date of termination or resignation and any other amounts or benefits required to be paid or provided by law or under any plan or program of the Company ( “Other Accrued Compensation and Benefits”). The Executive shall have no further right to receive any other compensation or benefits after such termination or resignation of employment and shall not be eligible to receive benefits under the Severance Plan.   A copy of the Severance Plan is annexed hereto as Exhibit A.
 (b) Termination without Cause. 
(i) If, prior to the expiration of the Term, the Executive’s employment is terminated by the Company without Cause or if the Board terminates Executive’s employment at the expiration of the Term or Additional Term, the Executive will be eligible to receive severance and other benefits provided pursuant to Article IV of the Severance Plan as if he were eligible to receive such severance and benefits under Article IV of the Severance Plan.  
(ii) If, following a termination of employment without Cause, the Executive breaches the provisions of Sections 5 through 9 hereof, the Executive shall not be eligible, as of the date of such breach, for the payments and benefits described in Section 4(b)(i), and any and all obligations and agreements of the Company with respect to such payments shall thereupon cease. 
 (c) Termination Due to Death or Disability. The Executive’s employment with the Company shall terminate automatically on the Executive’s death. In the event of the Executive’s Disability, as defined below, the Company shall be entitled to terminate his employment.  In the event of termination of the Executive’s employment by reason of Executive’s death or Disability, the Company shall pay to the Executive (or his estate, as applicable), the Executive’s Base Salary through and including the date of termination of employment and the Other Accrued Compensation and Benefits. For purposes of this Agreement, “Disability” means that the Executive is (i) unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Company. 

exhibit 10.41

(d) Section 409A. Notwithstanding the foregoing provisions of this Section 4, if, as of the Separation from Service Date, the Executive is a Specified Employee, then, except to the extent that this Agreement does not provide for a “deferral of compensation” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), the following shall apply: 
(i) No payments shall be made and no benefits shall be provided to the Executive during the period beginning on the Separation from Service Date and ending on the six-month anniversary of such date or, if earlier, the date of the Executive’s death or Disability. 
(ii) On the first business day of the first month following the month in which occurs the six-month anniversary of the Separation from Service Date or, if earlier, the Executive’s death or Disability, the Company shall make a one-time, lump-sum cash payment to the Executive in an amount equal to the sum of (x) the amounts otherwise payable to the Executive under this Agreement during the period described in Section 4(d)(i), and (y) the amount of interest on the foregoing at the applicable federal rate for instruments of less than one (1) year. 
For purposes of this Agreement,  “Separation from Service Date”  shall mean the date of the Executive’s separation from service within the meaning of Section 409A(a)(2)(i)(A) of the Code and determined in accordance with the default rules under Section 409A of the Code.  “Specified Employee” shall mean a ‘‘specified employee’’ within the meaning of Section 409A(a)(2)(B)(1) of the Code, as determined in accordance with the uniform methodology and procedures adopted by the Company and then in effect. 
(e) Notice of Termination. Any termination of employment by the Company or the Executive shall be communicated by a written  “Notice of Termination” to the other party hereto given in accordance with Section 24 of this Agreement. In the event of a termination by the Company for Cause, the Notice of Termination shall (i) indicate the specific termination provision in this Agreement relied upon, (ii) set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so indicated and (iii) specify the date of termination, which date shall be the date of such notice. The failure by the Executive or the Company to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Cause shall not waive any right of the Executive or the Company, respectively, hereunder or preclude the Executive or the Company, respectively, from asserting such fact or circumstance in enforcing the Executive’s or the Company’s rights hereunder. 
(f) Resignation from Directorships and Officerships. The termination of the Executive’s employment for any reason will constitute the Executive’s resignation from (i) any director, officer or employee position the Executive has with the Company or any of its subsidiaries or affiliates; (ii) all fiduciary positions (including as a trustee) the Executive holds with respect to any employee benefit plans or trusts established by the Company; and (iii) resignation from a seat on any non-Company board of directors that the Executive holds as a result of Executive’s position with the Company. The Executive agrees that this Agreement shall serve as written notice of resignation in this circumstance, unless otherwise required by any plan or applicable law. 

exhibit 10.41

5. Confidentiality. 
(a) Confidential Information. 
(i) The Executive agrees that he will not at any time, except with the prior written consent of the Company or any of its subsidiaries or affiliates (collectively, the  “Company Group” ) or, to the extent permitted pursuant to subsection 5(a)(ii), as required by law, directly or indirectly, reveal to any person, entity or other organization (other than any member of the Company Group or its respective employees, officers, directors, shareholders or agents) or use for the Executive’s own benefit any information deemed to be confidential by any member of the Company Group ( “Confidential Information”) relating to the assets, liabilities, employees, goodwill, business or affairs of any member of the Company Group, including, without limitation, any information concerning past, present or prospective customers, marketing data, trade secrets, ideas, techniques, business, product, or development plans, or other Confidential Information used by, or useful to, any member of the Company Group and known to the Executive by reason of the Executive’s employment by, shareholdings in or other association with any member of the Company Group; provided that such Confidential Information does not include any information which is available to the general public or is generally available within the relevant business or industry other than as a result of the Executive’s action. Confidential Information may be in any medium or form, including, without limitation, physical documents, computer files or disks, videotapes, audiotapes, and oral communications. 
(ii) In the event that the Executive becomes legally compelled to disclose any Confidential Information, the Executive shall provide the Company with prompt written notice, as set forth in Section 24 of this Agreement, so that the Company may seek a protective order or other appropriate remedy. In the event that such protective order or other remedy is not obtained, the Executive shall furnish only that portion of such Confidential Information or take only such action as is legally required by binding order and shall exercise his reasonable efforts to obtain reliable assurance that confidential treatment shall be accorded any such Confidential Information. 
(b) Exclusive Property. The Executive confirms that all Confidential Information is and shall remain the exclusive property of the Company Group. All business records, papers and documents kept or made by the Executive relating to the business of the Company Group shall be and remain the property of the Company Group. Upon the request and at the expense of the Company Group, the Executive shall promptly make all disclosures, execute all instruments and papers and perform all acts reasonably necessary to vest and confirm in the Company Group, fully and completely, all rights created or contemplated by this Section 5(b). 

6. Noncompetition. The Executive agrees that, for a period commencing on the Effective Date and ending one (1) year after his termination of employment for any reason (the “Restricted Period”), the Executive shall not, without the prior written consent of the Company, directly or indirectly, and whether as principal or investor or as an employee, officer, director, manager, partner, consultant, agent or otherwise, alone or in association with any other person, firm, corporation or other business organization, carry on a Competing Business (as hereinafter defined) in any geographic area in which the Company Group has engaged or in which the Company has publically announced it will engage (including, without limitation, any area in which any customer of the Company Group may be located). For purposes of this Section 6, a“Competing Business” is defined as a commercial airline; provided, however, that nothing herein shall limit the Executive’s right to own not more than 1% of any of the debt or equity securities of any business organization that is then filing reports with the Securities and Exchange Commission pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended. 

exhibit 10.41

7. Non-Solicitation. The Executive agrees that, during the Restricted Period, the Executive shall not, directly or indirectly, (a) interfere with or attempt to interfere with the relationship between any person who is, or was during the then most recent twelve-month period, an employee, officer, representative or agent of the Company Group and any member of the Company Group, or solicit, induce or attempt to solicit or induce any of them to leave the employ of any member of the Company Group or violate the terms of their respective contracts, or any employment arrangements, with such entities; or (b) induce or attempt to induce any customer, client, supplier, licensee or other business relation of any member of the Company Group to cease doing business with any member of the Company Group, or in any way interfere with the relationship between any member of the Company Group and any customer, client, supplier, licensee or other business relation of any member of the Company Group. As used herein, the term indirectly shall include, without limitation, the Executive’s permitting the use of the Executive’s name by any competitor of any member of the Company Group to induce or interfere with any employee or business relationship of any member of the Company Group. 

8. Nondisparagement. The Executive agrees that at no time during his employment by the Company or thereafter shall he make, or cause or assist any other person to make, any statement or other communication to any third party which impugns or attacks, or is otherwise critical of, the reputation, business or character of any member of the Company Group or any of its respective directors, officers or employees.  The Company agrees that at the termination of Executive’s employment with the Company, the Company will direct members of Senior Leadership to refrain from making any statement or other communication to any third party critical of the reputation, business or character of Executive, except as required by law. 

9. Assignment of Developments. 
(a) The Executive acknowledges that all developments, including, without limitation, the creation of new products, conferences, training/seminars, publications, programs, methods of organizing information, inventions, discoveries, concepts, ideas, improvements, patents, trademarks, trade names, copyrights, trade secrets, designs, works, reports, computer software or systems, flow charts, diagrams, procedures, data, documentation and writings and applications thereof, relating to the business or future business of the Company that the Executive, alone or jointly with others, has discovered, suggested, conceived, created, made, developed, reduced to practice, or acquired during the Executive’s employment with or as a result of the Executive’s employment with the Company (collectively, “Developments” ) are works made for hire and shall remain the sole and exclusive property of the Company, free of any reserved or other rights of any kind on the Executive’s part. The Executive hereby assigns to the Company all of his rights, titles and interest in and to all such Developments, if any. The Executive agrees to disclose to the Company promptly and fully all future Developments and, at any time upon request and at the expense of the Company, to execute, acknowledge and deliver to the Company all instruments that the Company shall prepare, to give evidence and to take any and all other actions (including, among other things, the execution and delivery under oath of patent or copyright applications and instruments of assignment) that are necessary or desirable in the reasonable opinion of the Company to enable the Company to file and prosecute applications for, and to acquire, maintain and enforce, all letters patent, trademark registrations or copyrights covering the Developments in all countries in which the same are deemed necessary by the Company. All data, memoranda, notes, lists, drawings, records, files, investor and client/customer lists, supplier lists and other documentation (and all copies thereof) made or compiled by the Executive or made available to the Executive concerning the Developments or otherwise concerning the past, present or planned business of the Company are the property of the Company, and will be delivered to the Company immediately upon the termination of the Executive’s employment with the Company. 

exhibit 10.41

(b) If a patent application or copyright registration is filed by the Executive or on the Executive’s behalf during the Executive’s employment with the Company or during the Restricted Period, describing a Development within the scope of the Executive’s work for the Company or which otherwise relates to a portion of the business of the Company of which the Executive had knowledge during the Executive’s employment with the Company, it is to be conclusively presumed that the Development was conceived by the Executive during the period of such employment. 

10. No Conflicting Agreement. The Executive represents and warrants to the Company that the Executive is not a party to any agreement, whether written or oral, that would be breached by or would prevent or interfere with the execution by the Executive of this Agreement or the fulfillment by the Executive of the Executive’s obligations hereunder.

11. Certain Remedies. 
(a) Forfeiture/Payment Obligations. In the event the Executive fails to comply with Sections 5 through 8, the Executive agrees that he will forfeit any amounts not already paid, and repay to the Company any amounts already paid, unless otherwise required by law, pursuant to Section 4(b) of the Agreement. The Executive will pay the Company under this Section 11(a) within 10 days of a determination by a court or an arbitrator that the Executive failed to comply with Sections 5 through 8 of the Agreement. The obligations under this Section 11(a) are full recourse obligations. 
(b) Injunctive Relief. Without intending to limit the remedies available to the Company Group, including, but not limited to, those set forth in Section 14 hereof, the Executive agrees that a breach of any of the covenants contained in Sections 5, 6, 7 and 8  of this Agreement may result in material and irreparable injury to the Company Group for which there is no adequate remedy at law, that it will not be possible to measure damages for such injuries precisely and that, in the event of such a breach or threat thereof, any member of the Company Group shall be entitled to seek a temporary restraining order or a preliminary or permanent injunction, or both, without bond or other security, restraining the Executive from engaging in activities prohibited by the covenants contained in Sections 5, 6, 7 and 8 of this Agreement or such other relief as may be required specifically to enforce any of the covenants contained in this Agreement. Such injunctive relief in any court shall be available to the Company Group in lieu of, or prior to or pending determination in, any arbitration proceeding. 

12. Defense of Claims. The Executive agrees that, during the Term, and for a period of five (5) years after termination of the Executive’s employment, upon request from the Company, the Executive will cooperate with the Company in the defense of any claims or actions that may be made by or against the Company that affect the Executive’s prior areas of responsibility, except if the Executive’s reasonable interests are adverse to the Company in such claim or action. The Executive shall not receive any additional compensation for rendering assistance pursuant to this Section 12. The Company agrees to promptly reimburse the Executive for all of the Executive’s reasonable travel and other direct expenses incurred, or to be reasonably incurred, to comply with the Executive’s obligations under this Section 12. 

exhibit 10.41

13. Source of Payments. All payments provided under this Agreement, other than payments made pursuant to a plan which provides otherwise, shall be paid in cash from the general funds of the Company, and no special or separate fund shall be established, and no other segregation of assets shall be made, to assure payment. The Executive shall have no right, title or interest whatsoever in or to any investments which the Company may make to aid the Company in meeting its obligations hereunder. To the extent that any person acquires a right to receive payments from the Company hereunder, such right shall be no greater than the right of an unsecured creditor of the Company. 

14. Arbitration. Any dispute or controversy arising under or in connection with this Agreement or otherwise in connection with the Executive’s employment by the Company that cannot be mutually resolved by the parties to this Agreement and their respective advisors and representatives shall be settled exclusively by arbitration in New York City, New York in accordance with the rules of the American Arbitration Association before one (1) arbitrator of exemplary qualifications and stature, who shall be selected jointly by an individual to be designated by the Company and an individual to be selected by the Executive, or if such two (2) individuals cannot agree on the selection of the arbitrator, who shall be selected by the American Arbitration Association. 

15. Nonassignability; Binding Agreement. 
(a) By the Executive. This Agreement and any and all rights, duties, obligations or interests hereunder shall not be assignable or delegable by the Executive. 
(b) By the Company. This Agreement and all of the Company’s rights and obligations hereunder shall not be assignable by the Company except as incident to a reorganization, merger or consolidation, or transfer of all or substantially all of the Company’s assets. 
(c) Binding Effect. This Agreement shall be binding upon, and inure to the benefit of, the parties hereto, any successors to or assigns of the Company and the Executive’s heirs and the personal representatives of the Executive’s estate. 

16. Taxes and Reimbursements. Any payments made or benefits provided to the Executive under this Agreement shall be reduced by any applicable withholding taxes or other amounts required to be withheld by law or contract. Notwithstanding anything in this Agreement to the contrary, no reimbursement payable to the Executive pursuant to any provisions of this Agreement or pursuant to any plan or arrangement of the Company covered by this Agreement shall be paid later than the last day of the calendar year following the calendar year in which the related expense was incurred, except to the extent that the right to reimbursement does not provide for a ‘‘deferral of compensation’’ within the meaning of Section 409A of the Code. No amount reimbursed during any calendar year shall affect the amounts eligible for reimbursement in any other calendar year. 

17. Amendment; Waiver. This Agreement may not be modified, amended or waived in any manner, except by an instrument in writing signed by both parties hereto. The waiver by either party of compliance with any provision of this Agreement by the other party shall not operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent breach by such party of a provision of this Agreement. 

exhibit 10.41

18. Governing Law. All matters affecting this Agreement, including the validity thereof, are to be governed by, and interpreted and construed in accordance with, the laws of the State of New York applicable to contracts executed in and to be performed in that State. 
19. Section 409A. This Agreement is intended to satisfy the requirements of Section 409A of the Code with respect to amounts subject thereto and shall be interpreted and construed and shall be performed by the parties consistent with such intent. 
20. Survival of Certain Provisions. The rights and obligations set forth in Sections 5 through 12 and Section 14 shall survive any termination or expiration of this Agreement. 
21. Entire Agreement; Supersedes Previous Agreements. This Agreement contains the entire agreement and understanding of the parties hereto with respect to the matters covered herein and supersedes all prior or contemporaneous negotiations, commitments, agreements and writings with respect to the subject matter hereof, all such other negotiations, commitments, agreements and writings shall have no further force or effect, including, but not limited to the Existing Employment Agreement which the Executive hereby expressly acknowledges and agrees is superseded by this Agreement and of which will no longer have such force or effect, and the parties to any such other negotiation, commitment, agreement or writing shall have no further rights or obligations thereunder. 
22. Counterparts. This Agreement may be executed by either of the parties hereto in counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. 
23. Headings. The headings of sections herein are included solely for convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement. 

24. Notices. All notices or communications hereunder shall be in writing, addressed as follows: 
To the Company: 
JetBlue Airways Corporation 
27-01 Queens Plaza North 
Long Island City, New York 11101 
Attention: General Counsel 
To the Executive: 
To the address listed as Executive’s primary residence in the Company’s human resources records and to his place of employment with the Company. 

All such notices shall be conclusively deemed to be received and shall be effective (i) if sent by hand delivery, upon receipt or (ii) if sent by electronic mail or facsimile, upon confirmation of receipt by the sender of such transmission. 

IN WITNESS WHEREOF, the Company has caused this Agreement to be signed by its officer pursuant to the authority of its Board, and the Executive has executed this Agreement, as of the day and year first written above. 

exhibit 10.41

	
							
	 
	 
	 
	 
	 
	 
	 

	JETBLUE AIRWAYS CORPORATION
	 
	 
	 
	 
	 
	 

	By: /s/ Mike Elliott
	 
	 
	 
	 
	 
	/s/ Robin Hayes

	Mike Elliott
Senior Vice President, People
	 
	 
	 
	 
	 
	Robin Hayes

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