Delta Airlines 2008 Annual Report Download - page 174

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(D) For purposes of the MIP, "Good Reason" shall have the meaning set forth in the 2007 Plan except: (1) any Award made to a
Participant under the Delta Air Lines, Inc. Merger Award Program; (2) any other equity-based awards or other incentive compensation awards
made to a Participant by any of Delta (or any Affiliate) or Northwest (or any subsidiary) at or prior to the closing of the Merger; and (3) any
retention payment or special travel benefits provided to a Participant as a result of his or her initial employment with Delta or any Affiliate, will
be ignored for purposes of determining whether a Participant has suffered a reduction that constitutes Good Reason under the MIP. Furthermore,
with respect to any Participant who was employed by Northwest or any subsidiary thereof immediately prior to the closing of the Merger, all
compensation and benefit programs provided to such Participant prior to the Merger by Northwest or any subsidiary thereof, including, without
limitation, the Participant's base salary, will be ignored for purposes of determining whether a Participant has suffered a reduction that constitutes
Good Reason under the MIP.
(E) For purposes of the MIP, "Retirement" means a Termination of Employment (other than for Cause or death) either: (1) on or after a
Participant's 62nd birthday provided that such Participant has completed at least 5 years service with the Company (or an Affiliate) or Northwest
(or a subsidiary); or (2) on or after a Participant's 52nd birthday provided that such Participant has completed at least 10 years service with the
Company (or an Affiliate) or Northwest (or a subsidiary).
(iii) Dividends. In the event a cash dividend shall be paid in respect of Shares at a time the Restrictions on the MIP Restricted Stock have not
lapsed, the Participant shall be eligible to receive the dividend upon the lapse of the Restrictions. The Restrictions shall apply to any such dividend.
(iv) 2007 Plan; Written Notice. The MIP Restricted Stock will otherwise be subject to the terms of the 2007 Plan. In the event any Executive
Officer Participant's MIP Award is converted to MIP Restricted Stock, such Participant will receive a written notice of such conversion with the details
thereof as soon as practicable after the MIP Payment Date.
8. Change in Employment Status.
(a) Termination of Employment.
(i) A Termination Event in 2009—General. Except as expressly set forth in this Section 8 or the Delta Air Lines, Inc. 2007 or 2009 Officer and
Director Severance Plan (the "Severance Plan"), in the event a Participant's employment with Delta terminates for any reason prior to the end of the
workday on December 31, 2009, such Participant will be ineligible for any award under the MIP. In other words, if a Participant is employed according
to Company records through the end of the workday on December 31, 2009, the Participant will be eligible for any award earned under the MIP for
2009, including, if applicable, MIP Restricted Stock.
(ii) Termination on or after January 1, 2010. Subject to Section 7(b) above, a Participant who incurs a Termination of Employment for any
reason other
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