Delta Airlines 2015 Annual Report Download - page 160

EXHIBIT10.16
DELTAAIRLINES,INC.
2016LONG-TERMINCENTIVEPROGRAM
1.Purpose.The2016Long-TermIncentiveProgram(the“2016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achievingkeybusinessobjectivesand(b)aligntheinterestsofmanagementemployeeswiththe
Company’sotheremployeesandstakeholders.
The2016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2016LTIPAwardAgreement(“AwardAgreement”).
Capitalizedtermsthatareusedbutnotdefinedinthe2016LTIPshallhavethemeaningascribedtotheminthe2007PerformancePlan.For
purposesofthe2016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2016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2016LTIP:
(i)authoritytoconstrueandinterpretthe terms ofthe2016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2016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2016LTIP,whichauthoritymaybedelegatedtotheCompany’sChiefHumanResourcesOfficer.
(b)AnyruleordecisionbytheCommitteethatisnotinconsistentwiththeprovisionsofthe2016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.
3.    Individual Award Agreements. Any person offered an Award under the 2016 LTIP will be required to sign an individual Award
Agreement.ExecutionbysuchpersonofhisorherAwardAgreementwillbeaprerequisitetotheeffectivenessoftheAwardunderthe2016
LTIPandtotheperson’sbecomingaParticipantinthe2016LTIP.ThetermsandconditionsofanyAwardAgreement,ifcontrarytothe
termsofthe2016LTIP,shallgoverntherightsofthecorrespondingParticipant.
4.Awards.
(a)RestrictedStock.
(i)AwardGrant.AParticipantmayreceiveRestrictedStockasspecified intheParticipant’sAwardAgreement(the“
RestrictedStock”).
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