Exhibit 4.2
FIRST AMENDMENT
TO
EMPLOYEE STOCK OWNERSHIP PLAN
OF
FRONTIER AIRLINES, INC.
THIS AMENDMENT is adopted this 19th day of July, 1995, to be effective
April 1, 1995, by Frontier Airlines, Inc., a Colorado corporation ("Frontier").
RECITALS:
1. Effective as of April 1, 1994, Frontier adopted the Employee Stock
Ownership Plan of Frontier Airlines, Inc. (the "Plan").
2. Pursuant to Section 9.4 of the Plan, Frontier reserved the right and
power to amend the Plan from time to time. Pursuant to that right and power, the
Plan is hereby amended as set forth below:
AMENDMENTS
1. Section 1.36 is amended in its entirety to provide as follows:
"Plan Year" means the 12-month period on which the records of the Plan
are kept. The first Plan Year of the Plan is the period from April 1,
1994 through March 31, 1995. The second Plan Year of the Plan shall be
the short period from April 1, 1995 through December 31, 1995. The Plan
Year of the Plan thereafter shall be the calendar year. The short Plan
Year in 1995 shall be treated as a full Plan Year for all purposes of
the Plan, but for purposes of such calculations as the Limitation Year
and for purposes of computing any restrictions or limitations with
respect to the Plan Year, all such restrictions and limitations shall
be prorated to reflect the short Plan Year."
2. Subsection 1.44(a) is hereby amended by the addition thereto, at the
end of the following:
"The short Plan Year from April 1, 1995 through December 31, 1995 shall
constitute a Year of Service, but the number of Hours of Service
required during that Plan Year shall be prorated."
3. Subsection 5.1(a) is hereby amended by the addition, at the end, of the
following:
"Notwithstanding the foregoing, all Participants who shared in the
allocation of the Company Contribution for the Plan Year ended March
31, 1995 shall be 100% vested in such Company Contribution."
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IN WITNESS WHEREOF, this First Amendment has been executed as of the
date first written above.
FRONTIER AIRLINES, INC.
By: /s/ Samuel D. Addoms
