Amendment No. 2 to Employment Agreement between JetBlue Airways Corporation and Robin Hayes

Contract Categories: Human Resources › Employment Agreements
Summary

JetBlue Airways Corporation and Robin Hayes have amended their existing employment agreement. This amendment extends Robin Hayes' employment term to July 31, 2022, or until his employment is otherwise terminated. It also sets his annual base salary at $625,000 effective February 1, 2020, and establishes his annual incentive bonus target at 150% of his base salary for 2020, with both terms subject to future changes by JetBlue's Board. All other terms of the original agreement remain unchanged.

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EX-10.41(B) 2 ex1041b-hayesamendment.htm EXHIBIT 10.41(B) Exhibit
Exhibit 10.41(b)

AMENDMENT NO. 2 TO THE EMPLOYMENT AGREEMENT
BETWEEN JETBLUE AIRWAYS CORPORATION AND ROBIN HAYES

This AMENDMENT NO. 2 (the “Amendment”) to the Employment Agreement, dated February 16, 2015 and amended February 16, 2017 (collectively, the “Prior Agreement”), by and between JETBLUE AIRWAYS CORPORATION, a Delaware corporation (the “Company”), and ROBIN HAYES (the “Executive”), is hereby entered into this 13th day of February 2020.

WHEREAS, the Company and the Executive previously entered into the Prior Agreement; and

WHEREAS, the Company and the Executive desire to provide for the continued employment of the Executive on the terms and conditions contained in the Prior Agreement, as modified by this Amendment;

NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:

1. Section 2 of the Prior Agreement is replaced in its entirety by the following:

“2.    Term of Employment. The Executive’s employment under this Agreement commenced on February 16, 2015 (the “Effective Date”). On February 13, 2020, the Board of Directors of the Company (the “Board”) exercised its discretion to extend the initial term of the Agreement (the “Term”), such that this Agreement shall terminate on the earlier of (i) July 31, 2022 or (ii) the termination of the Executive’s employment under this Agreement.”

2. Section 3(a) of the Prior Agreement is hereby amended to reflect the Executive’s annual base salary of $625,000, effective February 1, 2020, subject to future adjustments at the discretion of the Board.
                                                                                                                                                                                                                                                                                                                                                                           
3. Section 3(b) of the Prior Agreement is hereby amended to reflect the Executive’s annual incentive bonus target to be 150% of base salary for 2020, subject to future adjustments at the discretion of the Board.

3. All remaining terms of the Prior Agreement shall continue in full force and effect, as amended hereby.

IN WITNESS WHEREOF, the Company has caused this Amendment to be signed by its duly authorized officer pursuant to the authority of its Board, and the Executive has executed this Amendment, as of the date set forth above.


JETBLUE AIRWAYS CORPORATION
By:
/s/ Mike Elliott
Mike Elliott
Chief People Officer

EXECUTIVE
/s/ Robin Hayes
Robin Hayes
Dated: February 13, 2020