Delta Airlines 2014 Annual Report Download - page 446

of absence for a period of less than one calendar month during 2015 and (ii) actively at work for at least one full day during such
calendar month, the Participant will be deemed to have been employed in a MIP-
eligible position for the entire calendar month. The end
of year annual performance evaluation will apply to any Individual Performance measure applicable to the Participant unless the
Participant is no longer subject to the such evaluation process after the change in employment status, in which case the most recent
annual performance evaluation will apply. Any MIP Awards payable under this Section 8(b) will be paid at the same time and in the
same manner as such awards are paid to active Participants, subject to Section 7(b) above.
(i) New Hires. With respect to any individual who becomes employed by Delta as a grade 8 or any more senior MIP-
eligible position during 2015 but after January 1, 2015, such individual will be a Participant in the MIP and will be eligible to
receive an award under the MIP for 2015; provided, that such Participant’
s Annual Base Salary will be the result of the following
formula: X × Y/12, where:
X = the Participant’s annual base salary as of December 31, 2015; and
Y = the number of calendar months the Participant was actively employed by Delta in a MIP-
eligible position during
2015, rounded up for any partial month.
(ii) Promotions. Participants who are either promoted into a MIP-
eligible job level or promoted into a higher level of
MIP participation during 2015 will have their Target MIP Award calculated based on their annual base salary at each MIP-
eligible job level (measured as of the date immediately prior to the date the promotion is considered effective for purposes of the
MIP, if applicable, as described in the first paragraph of Section 8(b) above, and as of December 31, 2015) and the number of
calendar months they were employed in each such capacity, multiplied by the relevant total target award percentage applicable to
their position or positions during the relevant period.
(iii) Demotions.
Participants who are either demoted to a position that is not eligible to participate in the MIP or
demoted to a lower level of MIP participation during 2015 will have their Target MIP Award calculated based on their annual
base salary at each MIP-
eligible job level (measured as of the date immediately prior to the date the demotion is considered
effective for purposes of the MIP, as described in the first paragraph of Section 8(b) above, and, if applicable, as of December
31, 2015) and the number of calendar months they were employed in each such capacity, multiplied by the relevant total target
award percentage applicable to their position or positions during the relevant period.
(iv) Transfers and Leaves of Absence.
In the event that during 2015 a Participant (A) transfers employment from Delta
to a Delta subsidiary or Affiliate that does not participate in the MIP or (B) goes on any type of leave at any time during 2015,
the Participant will have his Target MIP Award calculated based on his annual base salary (measured as of the date immediately
prior to the date the transfer or leave is considered effective for purposes of the MIP) and the number of calendar months he was
employed in a MIP-eligible position during 2015, multiplied by the relevant total target award percentage applicable to his MIP-
eligible position.
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