FORM OF SEVERANCE AND RELEASE AGREEMENT 1Severance and Release Agreement • February 13th, 2018 • Spirit Airlines, Inc. • Air transportation, scheduled • Florida
This Severance and Release Agreement (sometimes referred to as Agreement) is entered in connection with your decision to receive a severance package offered by Spirit Airlines, Inc. (“Spirit or Company”), pursuant to the terms of the Spirit Airlines Inc. 2017 Executive Severance Plan (“Executive Severance Plan”). The purpose of this Agreement is to summarize the payment and benefits that will be available to you in return for a release of claims.
PERFORMANCE AWARD GRANT NOTICE AND PERFORMANCE AWARD AGREEMENT [STOCK APPRECIATION]Performance Award Agreement • February 13th, 2018 • Spirit Airlines, Inc. • Air transportation, scheduled • Delaware
Spirit Airlines, Inc., a Delaware corporation (the “Company”), pursuant to its 2015 Incentive Award Plan, as amended from time to time (the “Plan”), hereby grants to the individual listed below (“Participant”), a performance award (the “Performance Award”), representing the right to receive shares of the Company’s Common Stock (each, a “Share”), upon the achievement of certain performance goals and satisfaction of applicable vesting requirements and continued employment requirements. The Performance Award is subject to all of the terms and conditions set forth herein and in the Performance Award Agreement attached hereto as Exhibit A (the “Award Agreement”) and the Plan, each of which is incorporated herein by reference. Capitalized terms not specifically defined in this Grant Notice or the Award Agreement shall have the meanings specified in the Plan.
