Delta Airlines 2008 Annual Report Download - page 184

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(ii) the denominator of which is the number of calendar months from the Grant Date to each applicable Installment Date, rounded up for
any partial month.6
(D) Death or Disability. Upon a Participant's Termination of Employment due to death or Disability, any portion of the Option that is not
exercisable at the time of such Termination of Employment shall become exercisable, and the entire then exercisable portion of the Option shall
be exercisable, during the period: (i) beginning on the date of such Termination of Employment; and (ii) ending on the earlier of (x) the third
anniversary of such termination date or (y) the Expiration Date.
(E) For Cause. Upon a Participant's Termination of Employment by the Company for Cause, any unexercised portion of the Option shall
be immediately forfeited, including any portion that was then exercisable.
(F) Retirement-Eligible Participants Who Incur a Termination of Employment for Other Reasons. If a Participant who is eligible for
Retirement is, or would be, terminated by the Company without Cause, such Participant shall be considered to have been terminated by the
Company without Cause for purposes of the MAP rather than having retired, but only if the Participant acknowledges that, absent Retirement, the
Participant would have been terminated by the Company without Cause. If, however, the employment of a Participant who is eligible for
Retirement is terminated by the Company for Cause, then regardless of whether the Participant is considered as a retiree for purposes of any other
program, plan or policy of the Company, for purposes of the MAP, the Participant's employment shall be considered to have been terminated by
the Company for Cause.
6For example, assume a Participant received an Option exercisable for 1,000 Shares on December 1, 2008 and retires on April 15, 2009 (the
"Retirement Date"). In these circumstances, the number of calendar months from (a) the Grant Date to the Retirement Date is 5; and (b) the Grant Date
to the First, Second, Third and Fourth Installment Dates is 5, 11, 17, and 35, respectively. As a result, the Option will become exercisable on the
Participant's Retirement Date as follows:
• 200 Shares × 5/5 = 200
• 200 Shares × 5/11 = 91
• 200 Shares × 5/17 = 59
• 400 Shares × 5/35 = 58
Total: 408 Shares
If this formula results in any fractional Share, the Pro Rata Option Portion will be rounded up to the nearest whole Share. Accordingly, in this example, the
Option will become exercisable with respect to 408 Shares on the Retirement Date. The remaining portion of the Option (592 Shares) will be forfeited on the
Retirement Date
5