That reads, to me at least, more like the "contractor" has the right to offer a revised bid and match a competing companies best bid, but Continental/UAL still doesn't have to award it to them.
It's like restricted free agency in sports, your current team has a right to match any offer given to you by another team, but you don't have to take it.
Granted it refers to a couple other sections that aren't present. So I could be missing soemthing.