Delta Airlines 2015 Annual Report Download - page 169
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Please find page 169 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.(c)RestrictedStockUnits
(i)AwardGrant.AParticipantmayreceiveRestrictedStockUnitsasspecifiedintheParticipant’sAwardAgreement
(the“RSU”).
(ii)GrantDate.TheGrantDateoftheRSUswillbedeterminedinaccordancewiththeCompany’sEquityAwardGrant
Policy,asineffectfromtimetotime,andsetforthintheParticipant’sAwardAgreement.
(iii)RiskofForfeiture.UntilanRSUbecomesvested,aParticipantwillnotbepermittedtosell,exchange,assign,transfer
orotherwisedisposeoftheRSUandtheRSUwillbesubjecttoforfeitureassetforthbelow.
(iv)Vesting.Subjecttothetermsof2007PerformancePlanandthe2016LTIP,theRSUswillvestwithrespecttoone-
thirdoftheRSUsoneachofthefollowingdates:(A)February1,2017(“FirstRSUInstallment”),(B)February1,2018(“Second
RSUInstallment”)and(C)February1,2019(“ThirdRSUInstallment”).4
AssoonaspracticableafteranyRSUsbecomevested,theCompanyshallpaytoParticipantincashalumpsumamountequal
tothenumberofRSUsvestingmultipliedbytheclosingpriceofaShareofCommonStockontheNewYorkStockExchangeonthe
vestingdateor,iftheCommonStockwasnottradedontheNewYorkStockExchangeonthevestingdate,thelastdatepriortothe
vestingdatethattheCommonStockwastradedontheNewYorkStockExchange.
(v)AcceleratedVesting;Forfeiture.TheRSUsandthevestingprovisionssetforthinthisSection4(c)aresubjecttothe
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’sexecution ofawaiver andrelease of claimsin a formand mannersatisfactoryto theCompany, a numberof
RSUsequaltotheProRataRSUPortionwillbecomeimmediatelyvestedasofthedateofsuchTerminationofEmployment.
UponaParticipant’sTerminationofEmploymentbytheCompanywithoutCauseorbytheParticipantforGoodReason,any
unvestedRSUs,otherthantheProRataRSUPortion,shallbeimmediatelyforfeited.
4ThenumberofRSUssubjecttoeachRSUInstallmentwillbeequaltothetotalnumberofRSUsdividedbythree;provided,thatifthisformularesultsinanyfractionalRSUallocationto
anyRSUInstallment,thenumberofRSUsintheFirstRSUInstallmentand,ifnecessary,theSecondRSUInstallment,willbeincreasedsothatonlyfullRSUsarecoveredbyeachRSU
Installment.Forexample,ifanRSUAwardcovers1,000RSUs,theRSUwillvestwithrespectto334RSUsundertheFirstRSUInstallmentand333RSUsundereachoftheSecondand
ThirdRSUInstallments.
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