First Amendment to ExpressJet Holdings, Inc. Management Bonus Plan

Summary

ExpressJet Holdings, Inc. amends its Management Bonus Plan, effective January 1, 2009, to update how target bonus amounts are determined for various executive and management positions. The amendment specifies the percentage of base salary used to calculate bonuses for roles such as CEO, COO, CFO, Vice Presidents, and Directors, with the Committee retaining discretion to set different percentages up to 100%. The rest of the plan remains in effect as previously ratified.

EX-10.2 2 xjt8k052009e102.htm EXPRESSJET HOLDINGS, INC EXHIBIT 10.2 ExpressJet Holdings, Inc.

Exhibit 10.2

FIRST AMENDMENT TO
EXPRESSJET HOLDINGS, INC.
MANAGEMENT BONUS PLAN

WHEREAS, ExpressJet Holdings, Inc. (the “Company”) has adopted the ExpressJet Holdings, Inc. Management Bonus Plan, as amended and restated through February 20, 2007 (the “Plan”); and

WHEREAS, the Company desires to amend the Plan in certain respects;

NOW, THEREFORE, the Plan shall be and hereby is amended as follows, effective as of January 1, 2009:

1. The second sentence of Section 4 of the Plan shall be deleted and the following shall be substituted therefor:

“A Participant’s target bonus amount for a Fiscal Year shall be determined as set forth below unless a different base salary percentage (which may not exceed 100%) is determined by the Committee with respect to a Participant prior to commencement of a Fiscal Year:

Position with the Company or Subsidiary		Target Bonus Amount
Chief Executive Officer		60% of base salary for the Fiscal Year
Chief Operating Officer		45% of base salary for the Fiscal Year
Chief Financial Officer		40% of base salary for the Fiscal Year
Vice President		40% of base salary for the Fiscal Year
Staff Vice President		30% of base salary for the Fiscal Year
Senior Director		25% of base salary for the Fiscal Year
Director		20% of base salary for the Fiscal Year
Any other Participant		Percentage (not to exceed 100%) of base salary for the Fiscal Year designated by the Committee in connection with the designation of such individual as a Participant for the Fiscal Year.”

2. As amended hereby, the Plan is specifically ratified and reaffirmed.

IN WITNESS WHEREOF, the undersigned has caused these presents to be executed this 14th day of May, 2009.

EXPRESSJET HOLDINGS, INC.

                                                                        By:       /s/ James B. Ream
                                                                        Name: James B. Ream
                                                                        Title:    President and Chief Executive Officer