We got profit sharing by agreeing to allow the company to sell two B-767's? B.S. They can sell the whole lot of them.



Continental ______ UCH ______ CAL – ALPA ______
AGREEMENT
between
CONTINENTAL AIRLINES, INC. AND UNITED CONTINENTAL HOLDINGS, INC.,
and the
PILOTS
in the service of
CONTINENTAL AIRLINES, INC.
as represented by
THE AIR LINE PILOTS ASSOCIATION
_________________________________________
AGREEMENT PROVIDING for PROFIT SHARING
_________________________________________
THIS AGREEMENT is made and entered into in accordance with the provisions of the Railway Labor Act, as amended, by and between CONTINENTAL AIRLINES, INC. (“Continental”) and UNITED CONTINENTAL HOLDINGS, INC. (“UCH”), collectively, the “Airline Parties,” and the AIRLINE PILOTS in the service of CONTINENTAL AIRLINES, INC., as represented by the AIR LINE PILOTS ASSOCIATION by and through the ALPA Master Executive Council of the Continental Pilots (“CAL ALPA”).
Purpose of this Agreement
Prior agreements have recognized that United and Continental were continuing to operate as separate air carriers but would work expeditiously to fully merge the two airlines and to negotiate a Joint Collective Bargaining Agreement (“JCBA”). The Parties remain committed to the goal of a smooth and seamless movement to a single, unified Pilot group operating under a JCBA and pledge to continue striving to finalize a JCBA as expeditiously as possible.
The Parties wish to work to facilitate a smooth and seamless movement to the Complete Operational Merger. In furtherance of their goal of achieving a Complete Operational Merger and becoming a single air transportation system, the Parties wish to grant Profit Sharing to Continental Pilots and enter into other good faith agreements.
Now, Therefore, the Parties hereby agree as follows:
1
Continental ______ UCH ______ CAL – ALPA ______
2
1.
No Effect on Other Obligations and Commitments
Except as stated herein, this Agreement will not affect any Party’s obligations, guarantees or commitments under the Transition and Process Agreement (“TPA”) or the Continental Collective Bargaining Agreement (“CBA”), all of which shall remain in full force and effect until a JCBA has been ratified unless the Parties shall agree otherwise.
2.
Profit Sharing
Continental Pilots will participate in the United Continental Holdings, INC, Profit Sharing Plan in accordance with the terms of that Plan, for calendar year 2011.
3.
Sale of 767-200’s
CAL ALPA hereby withdraws and dismisses with prejudice Grievance numbers 6.11.027C and agrees that it will not file any other grievance or legal proceeding challenging the sale of Continental’s B767-200 fleet or otherwise attempt to hinder or impede those sales.
4.
Effective Date
This Agreement shall be effective on signing.
Agreed this ____ day of _____, 2011:
Add signature lines for UCH, Continental, Continental MEC Chairman,
.