Delta Airlines 2015 Annual Report Download - page 162

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(C)Retirement.SubjecttoSection4(a)(v)(F)below,uponaParticipant’sTerminationofEmploymentbyreasonof
Retirement, with respect to any portion of the Restricted Stock subject to the Restrictions, subject to the Participant’s
execution of a waiver and release of claims in a form and manner satisfactory to the Company, the Restrictions shall
immediatelylapseontheProRataRSPortionasofthedateofsuchTerminationofEmployment.ProRataRSPortionhasthe
meaningsetforth in Section4(a)(v)(A)above.Upon aParticipant’s TerminationofEmploymentby reasonof Retirement,
any Restricted Stock that remains subject to the Restrictions, other than the Pro Rata RS Portion, shall be immediately
forfeited.
(D)Death or Disability. Upon a Participant’s Termination of Employment due to death or Disability, the
RestrictionsshallimmediatelylapseandbeofnofurtherforceoreffectasofthedateofsuchTerminationofEmployment.
(E)ForCause.UponaParticipant’sTerminationofEmploymentbytheCompanyforCause,anyportionof
theRestrictedStocksubjecttotheRestrictionsshallbeimmediatelyforfeited.
(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2016LTIP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2016LTIP,theParticipant’semploymentshallbeconsideredtohavebeenterminatedby
theCompanyforCause.
(vi)ChangeinControl.NotwithstandingtheforgoingandsubjecttoSection5below,uponaParticipant’sTerminationof
EmploymentbytheCompanywithoutCauseorbytheParticipantforGoodReason(includingtheTerminationofEmploymentofthe
ParticipantifheorsheisemployedbyanAffiliateatthetimetheCompanysellsorotherwisedivestsitselfofsuchAffiliate)onor
afteraChangeinControlbutpriortothesecondanniversaryofsuchChangeinControl,subjecttotheParticipant’sexecutionofa
waiverandreleaseofclaimsinaformandmannersatisfactorytotheCompany,anyRestrictionsineffectshallimmediatelylapseon
thedateofsuchTerminationofEmploymentandbeofnofurtherforceoreffectasofsuchdate.
(vii)Dividends.IntheeventacashdividendshallbepaidwithrespecttoSharesatatimetheRestrictionsonthe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.
(b)PerformanceAwards.
(i)AwardGrant.AParticipantmayreceiveaPerformanceAwardforaspecifiedtargetcashamountassetforthinthe
Participant’sAwardAgreement(a“PerformanceAward”).
(ii)GrantDate.TheGrantDateofthePerformanceAwardwillbedeterminedbytheCommitteeandsetforthinthe
Participant’sAwardAgreement.
(iii)PayoutCriteriaandFormofPayment.ExceptasotherwiseexpresslysetforthinthisSection4(b),payment,ifany,of
a Performance Award will be based on the following factors as described and defined below: (A) the Average Annual Operating
IncomeMarginduringthePerformancePeriodoftheCompanyrelativetotheCompositePerformanceofthemembersoftheIndustry
CompositeGroup;(B)CustomerServicePerformanceduringthePerformancePeriodoftheCompany;and(C)ReturnonInvested
CapitalduringthePerformancePeriodoftheCompany.
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