Delta Airlines 2008 Annual Report Download - page 154

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(v) Lapse of Restrictions/Forfeiture upon Termination of Employment. The Restricted Stock and the Restrictions set forth in this Section 3(a) are
subject to the following terms and conditions:
(A) Without Cause or For Good Reason. Upon a Participant's Termination of Employment by the Company without Cause or by the
Participant for Good Reason (including the Termination of Employment of the Participant if he is employed by an Affiliate at the time the
Company sells or otherwise divests itself of such Affiliate), with respect to any portion of the Restricted Stock subject to the Restrictions, the
Restrictions shall immediately lapse on the Pro Rata RS Portion as of the date of such Termination of Employment. Upon a Participant's
Termination of Employment by the Company without Cause or by the Participant for Good Reason, any Restricted Stock that remains subject to
the Restrictions, other than the Pro Rata RS Portion, shall be immediately forfeited.
"Pro Rata RS Portion" means, with respect to any portion of Restricted Stock that is subject to the Restrictions at the time of a
Participant's Termination of Employment, the number of Shares with respect to which the Restrictions would have lapsed on each future
Installment Date multiplied by a fraction (i) the numerator of which is the number of calendar months2 from the Grant Date to the date of such
Termination of Employment, rounded up for any partial month and (ii) the denominator of which is twelve (12) for the First Installment Date and
twenty-four (24) for the Second Installment Date.3
(B) Voluntary Resignation. Upon a Participant's Termination of Employment by reason of a voluntary resignation (other than for Good
Reason or Retirement), any portion of the Restricted Stock subject to the Restrictions shall be immediately forfeited.
(C) Retirement. Subject to Section 3(a)(v)(F) below, upon a Participant's Termination of Employment by reason of Retirement, with
respect to any portion of the Restricted Stock subject to the Restrictions, the Restrictions shall immediately lapse on the Pro Rata RS Portion as of
the date of such Termination of Employment. Pro Rata RS Portion has the meaning set forth in Section 3(a)(v)(A) above. Upon a Participant's
Termination of Employment by reason of Retirement, any Restricted Stock that remains subject to the Restrictions, other than the Pro Rata RS
Portion, shall be immediately forfeited.
(D) Death or Disability. Upon a Participant's Termination of Employment due to death or Disability, the Restrictions shall immediately
lapse and be of no further force or effect as of the date of such Termination of Employment.
(E) For Cause. Upon a Participant's Termination of Employment by the Company for Cause, any portion of the Restricted Stock subject to
the Restrictions shall be immediately forfeited.
2For purposes of the 2009 LTIP, one calendar month is calculated from the date of measurement to the same or closest numerical date occurring during
the following month. For example, one calendar month from January 31, 2009 will elapse as of February 28, 2009, two months will elapse on
March 31, 2009, and so on.
3If this formula results in any fractional Share, the Pro Rata RS Portion will be rounded up to the nearest whole Share.
2