Delta Airlines 2008 Annual Report Download - page 145

amount such that after payment by the Participant of all such Participant's applicable federal, state and local taxes on such additional amount, the
Participant will retain an amount sufficient to pay the total of such Participant's applicable federal, state and local taxes arising due to the Later
Payment. In the case of any repayment of Excise Tax that the Participant is required to make to Delta pursuant to the second sentence of this
Section 4(e)(iii), the Participant shall also repay to Delta the amount of any additional payment received by such Participant from Delta in respect of
applicable federal, state and local taxes on such repaid Excise Tax, to the extent the Participant is entitled to a refund of (or has not yet paid) such
federal, state or local taxes. Any payments from one party to the other under this Section 4(e)(iii) shall be made promptly, but in no event later than
December 31 of the year after the year in which the excess or shortfall is determined to exist.
(f) Severance Period. "Severance Period" shall mean with respect to any Severance Event, the period beginning on the Participant's employment
termination date from Delta and ending:
(i) 6 months after the termination date for Directors;
(ii) 9 months after the termination date for Managing Directors;
(iii) 12 months after the termination date for Vice Presidents;
(iv) 15 months after the termination date for Senior Vice Presidents;
(v) 18 months after the termination date for Executive Vice Presidents; and
(vi) 24 months after the termination date for the President or Chief Executive Officer.
The Severance Period will be based on the Participant's job level at the time of the Severance Event. If however, the Severance Event is described in
Section 3(a)(ii) or (iii) above and the event which constitutes Good Reason is a significant diminution of the Participant's position, responsibilities or
duties, the Severance Period shall be based on the Participant's job level prior to the diminution which gave rise to the Participant's resignation
5. PLAN ADMINISTRATION AND INTERPRETATION
The "Plan Administrator" is the Executive Vice President – Human Resources & Labor Relations (or any other Officer of the Company designated by the
Personnel & Compensation Committee of the Board). The "Plan Year" is January 1 to December 31. Benefits from the 2009 Plan are paid from the general
assets of Delta.
The Plan Administrator, or his delegate, has the full power and authority, in his sole discretion to construe, interpret and administer the 2009 Plan and his
decisions shall be final and binding. The Plan Administrator shall have the broadest discretionary authority permitted under law in the exercise of all its
functions including, but not limited to, deciding questions of eligibility, interpretation and the right to benefits hereunder.
8