Delta Airlines 2015 Annual Report Download - page 167
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Please find page 167 of the 2015 Delta Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.(E)Vesting/PerformanceMeasures.Thepayment,ifany,aParticipantwillreceiveinconnectionwiththevesting
ofthePerformanceAwardwillbebasedonthefollowing:
PerformanceMeasure
Weighting
Threshold
(50%ofTarget)
Target
(100%ofTarget)
Maximum
(200%ofTarget)
AverageAnnualOperating
IncomeMargin CompositePerformance 0.5%pointsabove
CompositePerformance
1.5%pointsabove
CompositePerformance 50%
CustomerService
Performance—Domestic +0%points +2.4%points +3.7%pointsorhigher 15%
CustomerService
Performance—
International +2.0%points +4.3%points +5.7%pointsorhigher 10%
ReturnonInvestedCapital 16.0% 18.0% 20.0%orhigher 25%
Anyportion of a Performance Awardthat doesnot vestat theend ofthe Performance Period will immediately lapse and
becomevoid.Payoutsbasedontheaboveperformancemeasureswillbestraight-lineinterpolatedwhenactualperformance
resultsfallaboveThresholdandbelowTargetoraboveTargetandbelowMaximum.
(vi)TimingofPayment.Thepayout,ifany,ofanyPerformanceAwardthatvestsunderSection4(b)(v)willbemadeas
soonaftertheendofthePerformancePeriodasthepaymentamountcanbefinallydetermined,butinnoeventlaterthanMarch15,
2019,unlessitisadministrativelyimpracticabletodoso,andsuchimpracticabilitywasnotforeseeableattheendof2018,inwhich
casesuchpaymentshallbemadeassoonasadministrativelypracticableafterMarch15,2019.
(vii) Accelerated Vesting/Forfeiture upon Termination of Employment . The Performance Awards are subject to the
followingtermsandconditions.
(A)Without Cause or For Good Reason. Upon a Participant’s Termination of Employment by the Company
withoutCauseorbytheParticipantforGoodReason(includingtheTerminationofEmploymentoftheParticipantifheor
sheis employedby anAffiliate atthe timethe Companysells orotherwise divests itself of suchAffiliate), subjectto the
Participant’sexecutionofawaiverandreleaseofclaimsinaformandmannersatisfactorytotheCompany,theParticipant’s
targetPerformanceAwardwillberecalculatedandwillbetheresultofthefollowingformula(the“AdjustedPerformance
Award”):S×(T÷36)where,
S=theportionoftheParticipant’stargetPerformanceAwardasoftheGrantDate;and
T=thenumberofcalendarmonthsfromJanuary1,2016tothedateofsuchTerminationofEmployment(roundedup
foranypartialmonth).
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