Delta Airlines 2011 Annual Report Download - page 104

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EXHIBIT 10.15
DELTA AIR LINES, INC.
2012 LONG-TERM INCENTIVE PROGRAM
1. Purpose. The 2012 Long-Term Incentive Program (the “2012 LTIP”) is a long term incentive program sponsored by
Delta Air Lines, Inc. (“Delta” or the “Company”) that is intended to closely: (a) link pay and performance by providing
management employees with a compensation opportunity based on Delta's achieving key business objectives; and (b)
align the interests of management employees with the Company's other employees and stakeholders.
The 2012 LTIP is being adopted under the Delta Air Lines, Inc. 2007 Performance Compensation Plan (“2007
Performance Plan”). It is subject to the terms of the 2007 Performance Plan and an individual's 2012 LTIP Award
Agreement (“Award Agreement”).
Capitalized terms that are used but not defined in the 2012 LTIP shall have the meaning ascribed to them in the 2007
Performance Plan. For purposes of the 2012 LTIP, the definitions of “Good Reason,” and “Retirement” as set forth in
the 2007 Performance Plan are hereby replaced or modified under Section 6 below, and shall apply as set forth in Section
6 in lieu of the definitions of these terms in the 2007 Performance Plan or as modified, as applicable.
2. Plan Administration. (a) The Personnel & Compensation Committee of the Board of Directors (the “Committee”)
shall be responsible for the general administration and interpretation of the 2012 LTIP and for carrying out its provisions.
The Committee shall have such powers as may be necessary to discharge its duties hereunder, including, without
limitation, the following powers and duties, but subject to the terms of the 2012 LTIP:
(i) authority to construe and interpret the terms of the 2012 LTIP, and to determine eligibility, awards and the
amount, manner and time of payment of any awards hereunder;
(ii) authority to prescribe forms and procedures for purposes of the 2012 LTIP participation and distribution of
awards; and
(iii) authority to adopt rules and regulations and to take such actions as it deems necessary or desirable for the
proper administration of the 2012 LTIP.
(b) Any rule or decision by the Committee that is not inconsistent with the provisions of the 2012 LTIP shall be
conclusive and binding on all persons, and shall be given the maximum deference permitted by law.
(c) Notwithstanding anything contained in the 2007 Performance Plan to the contrary, the Committee shall not
have the authority to increase or decrease the actual payout of any Performance Award (as defined below) granted to any
Participant pursuant to Section 4(b) hereunder.
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