Delta Airlines 2003 Annual Report Download - page 270

The amount of Supplemental Survivor Income paid under this Agreement
will be adjusted as permitted under the Plan and the Code to account for, inter
alia, changes in the number of Eligible Family Members.
If Key Employee's death occurs prior to retirement, the amount of any
Supplemental Survivor Income payment will be reduced each month by the PRSB
Monthly Supplemental Income or the Deferred Vested PRSB Monthly Supplemental
Income, as applicable, as of the date of payment. If Key Employee's death occurs
after retirement, the Supplemental Monthly Survivor Income will be reduced by
50% of the Monthly Supplemental Retirement Income.
8. Cessation of Benefits. Subject to Section 5 the Company shall
commence payment of retirement benefits under this Agreement as of the Benefit
Commencement Date under the Retirement Plan and payment of the Supplemental
Disability or Survivor Income as of the Benefit Commencement Date under the
Disability and Survivorship Plan.
Supplemental Disability Income will cease if the full benefit due under
the Disability and Survivorship Plan is paid from that plan or when the Key
Employee is no longer eligible for short term disability benefits under that
plan.
Supplemental Survivor Income will cease if the full benefit due under
the Disability and Survivorship Plan is paid from that plan or when there are no
remaining Eligible Family Member(s) under that plan. All benefits payable
hereunder may cease pursuant to Section 10 at any time.
9. Supplemental Lump Sum Death Benefit. Subject to Section 10,
the Company agrees to pay to the named beneficiary (as designated by Key
Employee for the Basic Life Benefit under the Disability and Survivorship Plan)
of Key Employee at Key Employee's death following retirement, a supplemental
lump sum death benefit in the amount necessary to provide a total lump sum death
benefit of $50,000 when combined with the Basic Life Benefit actually provided
by the Disability and Survivorship Plan.
10. Covenant Not to Compete. Unless waived by the Committee under
circumstances the Committee deems appropriate in its sole discretion, if Key
Employee terminates active employment with the Company prior to his or her
Normal Retirement Date and within two years of such termination directly or
indirectly provides management or executive services (whether as a consultant,
advisor, officer or director) to any entity who is in direct and substantial
competition with the air transportation business of the Company or any of its
subsidiaries, then Key Employee shall within thirty days of such employment
repay the Company in cash an amount equal to the Supplemental Retirement Income
Lump Sum or the Deferred Vested Supplemental Retirement Income Lump Sum, as the
case may be. For this purpose, the amount of the Supplemental Retirement Income
Lump Sum and the Deferred Vested Supplemental Retirement Income Lump Sum shall
be determined before any reduction for the balance in any Grantor Trust
established by Key Employee.
Because of the broad and extensive scope of the Company's air
transportation business, the restrictions contained in this provision are
intended to extend to management or executive
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