Delta Airlines 2015 Annual Report Download - page 170
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Please find page 170 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.“ Pro Rata RSU Portion ” means, with respect to any RSU Installment that is not vested at the time of a
Participant’sTerminationofEmployment,thenumberofRSUscoveredbysuchRSUInstallmentmultipliedbyafraction(i)
the numerator of which is the number of calendar months 5 from the Grant Date to the date of such Termination of
Employment,roundedupforanypartialmonthand(ii)thedenominatorofwhichistwelve(12)fortheFirstRSUInstallment,
twenty-four(24)fortheSecondRSUInstallmentandthirty-six(36)fortheThirdRSUInstallment.6
(B)VoluntaryResignation.UponaParticipant’sTerminationofEmploymentbyreasonofavoluntaryresignation
(otherthanforGoodReasonorRetirement),anyunvestedportionoftheRSUsshallbeimmediatelyforfeited.
(C)Retirement.SubjecttoSection(4)(c)(v)(F)below,uponaParticipant’sTerminationofEmploymentbyreason
ofRetirement,withrespecttoanyRSUInstallmentthatisnotthenvested,subjecttotheParticipant’sexecutionofawaiver
and release of claims in a form and manner satisfactory to the Company, a number of RSUs equal to the Pro Rata RSU
PortionwillbecomeimmediatelyvestedasofthedateofsuchTerminationofEmployment.ProRataRSUPortionhasthe
meaningsetforth in Section4(c)(v)(A)above.Upon aParticipant’s TerminationofEmploymentby reasonof Retirement,
anyunvestedRSUs,otherthantheProRataRSUPortion,shallbeimmediatelyforfeited.
(D)DeathorDisability.UponaParticipant’sTerminationofEmploymentduetodeathorDisability,allunvested
RSUswillimmediatelyvestasofthedateofsuchTerminationofEmployment.
(E)ForCause.UponaParticipant’sTerminationofEmploymentbytheCompanyforCause,anyunvestedportion
oftheRSUsshallbeimmediatelyforfeited.
(F)Retirement-EligibleParticipantsWhoIncuraTerminationofEmploymentforOtherReasons.IfaParticipant
who is eligible for Retirement, is, or would be, terminated by the Company without Cause, such participant shall be
consideredtohavebeenterminatedbytheCompanywithoutCauseforpurposesofthisAgreementratherthanhavingretired,
butonlyiftheParticipantacknowledges,thatabsentRetirement,theParticipantwouldhavebeenterminatedbytheCompany
withoutCause.If,however,theemploymentofaParticipantwhoiseligibleforRetirementisterminatedbytheCompanyfor
Cause,thenregardlessofwhethertheParticipantisconsideredaretireeforpurposesofanyotherprogram,planorpolicyof
theCompany,forpurposesofthisAgreement,theParticipant’semploymentshallbeconsideredtohavebeenterminatedby
theCompanyforCause.
(vi)ChangeinControl.NotwithstandingtheforegoingandsubjecttoSection5below,uponaParticipant’sTerminationof
EmploymentbytheCompanywithoutCauseorbytheParticipantforGoodReason(includingtheTerminationofEmploymentofthe
ParticipantifheorsheisemployedbyanAffiliateatthetimetheCompanysellsorotherwisedivestsitselfofsuchAffiliate)onor
afteraChangeinControl,butpriortothesecondanniversaryofsuchChangeinControl,subjecttotheParticipant’sexecutionofa
waiverandreleaseofclaimsinaformandmannersatisfactorytotheCompany,anyunvestedportionoftheRSUswillimmediately
vestasofthedateofsuchTerminationofEmployment.
5Forpurposesofthe2016LTIP,onecalendarmonthiscalculatedfromthedateofmeasurementtothesameorclosestnumericaldateoccurringduringthefollowingmonth.Forexample,one
calendarmonthfromJanuary31,2016willelapseasofFebruary29,2016,twomonthswillelapseonMarch31,2016,andsoon.
6IfthisformularesultsinanyfractionalRSUs,theProRataRSUPortionwillberoundeduptothenearestwholeRSU.
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