United Airlines 2009 Annual Report Download - page 160

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Exhibit 10.25
PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD NOTICE
Restricted Stock Unit Award Notice under the UAL Corporation 2008 Incentive Compensation Plan, dated as of «Grant_Month» «Grant_Day»,
«Grant_Year», between UAL Corporation, a Delaware corporation (the “Company”), and «Grantee_First_Name» «Grantee_Last_Name».
This Restricted Stock Unit Award Notice (the “Award Notice”) sets forth the terms and conditions of an award of «RSUs» restricted stock units (the
“Award”) that are subject to the terms and conditions specified herein (“RSUs”) and that are granted to you under the UAL Corporation 2008 Incentive
Compensation Plan (the “Plan”). This award constitutes an unfunded and unsecured promise of the Company to deliver (or cause to be delivered to you), subject
to the terms of this Agreement, either a share of the Company’s Common Stock, $0.01 par value (a “Share”), or a cash payment, for each RSU as set forth in
Section 3 below.
SECTION 1. The Plan. This Award is made pursuant to the Plan, all the terms of which are hereby incorporated in this Award Notice. In the event
of any conflict between the terms of the Plan and the terms of this Award Notice, the terms of the Plan shall govern.
SECTION 2. Definitions. Capitalized terms used in this Award Notice that are not defined in this Award Notice have the meanings as used or
defined in the Plan. As used in this Award Notice, the following terms have the meanings set forth below:
“Performance Period” means the applicable period beginning on January 1 and ending on December 31.
“Vesting Date” means the date on which you become entitled to delivery of either Shares or cash in settlement of the RSUs subject to this Award
Notice, as provided in Section 3(a) of this Award Notice.
SECTION 3. Vesting and Delivery. (a) Vesting. (i) On each Vesting Date set forth below, you shall become entitled to either delivery of Shares or a
cash payment in settlement of the number of RSUs that corresponds to such Vesting Date, as specified in the chart below, provided that you remain actively
employed by the Company or an Affiliate on the relevant Vesting Date and, unless otherwise determined by the Committee in its sole discretion, the Company
achieves the Performance Goals (as defined in the Plan) for the applicable Performance Period. The Committee shall, in its sole discretion, determine the
Performance Goals for the applicable Performance Period by March 31 of such Performance Period. In addition, following the applicable Performance Period,
the Committee shall, in its sole discretion, determine whether the Performance Goals have been met.