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Stock Unit Agreement

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Title:

Stock Unit Agreement

Entities:

Frontier Airlines, Inc.

Date:

2005

Size:

Preview shows 5KB of 16KB total

Price:

$33

ID:

#524364

► Compensation ► Unit Agmt. ► Stock Unit Agreements
► Transportation ► Airline

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FRONTIER AIRLINES, INC.
2004 EQUITY INCENTIVE PLAN

STOCK UNIT AGREEMENT

THIS STOCK UNIT AGREEMENT is made as of the day of , 200 (the "Grant Date"), between Frontier Airlines, Inc., a Colorado corporation (together with any affiliate, the "Company"), and (the "Grantee").

1. Definitions. The following terms, when used in this Agreement, shall have the following meanings:

(a): "Cause" means the commission of any act of fraud, embezzlement or dishonesty by the Grantee, any unauthorized use or disclosure by the Grantee of any confidential information or trade secrets of the Company, any other intentional misconduct by the Grantee that adversely affects the business affairs of the Company or any other conduct that violates the Company's policies or procedures.
(b): "Code" means the Internal Revenue Code of 1986, as amended.
(c): "Committee" means the Compensation Committee of the Board of Directors of the Company.
(d): "Disability; Disabled" means the status granted to a Grantee when the Grantee suffers a physical or mental condition or illness that renders the Grantee, even with attempts by the Company to make reasonable accommodations, totally and permanently incapable of performing the essential functions of his or her job at the Company.
(e): "Fair Market Value" means the closing price of the Stock on the principal exchange or market on which the Stock is traded on the day as of which Fair Market Value is determined or, if the shares are not traded on that day, the next following trading day.
(f): "Plan" means the Frontier Airlines 2004 Equity Incentive Plan.
(g): "Retirement" means termination of employment with the Company after the Grantee has completed at least ten (10) years of service with the Company, which need not be continuous, and if the sum of the Grantee's attained age on the date of termination of employment plus years of service equals at least 65.
(h): "Stock" means the Company's common stock, without par value.

2. Grant of Units. Pursuant to the Plan and subject to the terms and conditions of this Agreement, the Company hereby grants to the Grantee stock units ("Units") effective as of the Grant Date. Each Unit represents the right to receive one share of Stock at the time provided in this Agreement.

3. Vesting.

(a) General. Except as provided otherwise in this Agreement, if the Grantee has been employed by the Company continuously since the Grant Date, the Units shall vest on the fifth (5^th) anniversary of the Grant Date. Except as provided otherwise in this Agreement, vested Units shall be payable at the time provided in Section 4 below.

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