SEC Contract Filing

Filing Date: 2018-05-18

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex101-hnatseparationagreem.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="s19A556B4B468238920AD7446BD06A496"></a></div><div></div><div><br></div><div style="line-height:130%;padding-bottom:10px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">AGREEMENT AND GENERAL RELEASE</font></div><div style="line-height:130%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Agreement and General Release (hereinafter, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) offered to James Hnat (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Executive</font><font style="font-family:inherit;font-size:12pt;">&#8221;) by JetBlue Airways Corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is dated as of May 17, 2018.</font></div><div style="line-height:130%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the parties have determined that the Executive shall relinquish his role as Executive Vice President, Corporate Affairs, General Counsel and Corporate Secretary effective June 30, 2018 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">End of Full-Time Service Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:130%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Company desires and the Executive agrees to remain as a Senior Advisor on an at will basis from June 30, 2018 through December 31 2018 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Advisory Period</font><font style="font-family:inherit;font-size:12pt;">&#8221;), unless terminated by either party sooner; and</font></div><div style="line-height:130%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, Executive will terminate his employment with the Company on December 31, 2018, or sooner as provided herein (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Termination Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;): and</font></div><div style="line-height:130%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, this agreement, when executed by the Executive and the Company in accordance with the terms hereof, shall be effective as of the End of Full-Time Service Date; and</font></div><div style="line-height:130%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW THEREFORE, in consideration of the mutual covenants and conditions set forth below, and intending to be legally bound thereby, the Company and the Executive covenant and agree as follows:</font></div><div style="line-height:130%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Separation</font><font style="font-family:inherit;font-size:12pt;">. The Executive shall separate from his position of Executive Vice President and General Counsel of the Company as of the End of Full Time Service Date, and will be employed in the alternate full-time position of Senior Advisor from July 1, 2018 through December 31, 2018 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Advisory Period</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:130%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Payment and Benefits</font><font style="font-family:inherit;font-size:12pt;">. Provided that the Executive executes this Agreement within twenty-one days of May 17, 2018, does not revoke this Agreement as provided herein, and signs and does not revoke the Reaffirmation attached as Exhibit A within the time afforded him and remains in compliance with this Agreement or any other agreement to which he is subject, then in consideration for the Executive&#8217;s obligations herein, the Company shall provide the following payments and benefits:</font></div><div style="line-height:130%;padding-bottom:10px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Payments to Executive</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:130%;padding-bottom:10px;text-align:justify;text-indent:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)</font><