Delta Airlines 2015 Annual Report Download - page 174
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Please find page 174 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.seniorofficerParticipanthasengagedinfraudormisconductthatcaused,inwholeorinpart,theneedforarequiredrestatementofDelta’s
financial statements filed with the SEC, the Committee will review all incentive compensation awarded to or earned by the Participant,
including,withoutlimitation,anyAwardunderthe2016LTIP,withrespecttofiscalperiodsmateriallyaffectedbytherestatementandmay
recoverfromtheParticipantallsuchincentivecompensationtotheextentthattheCommitteedeemsappropriateaftertakingintoaccountthe
relevantfactsandcircumstances.AnyrecoupmenthereundermaybeinadditiontoanyotherremediesthatmaybeavailabletoDeltaunder
applicablelaw,including,disciplinaryactionuptoandincludingterminationofemployment.
8.Section409AoftheCode.TotheextentrequiredtobeincompliancewithSection409AoftheCode,andtheregulationspromulgated
thereunder(together,“Section409A”),notwithstandinganyotherprovisionofthisPlan,(a)anypaymentorbenefittowhichaParticipantis
eligibleunderthe2016LTIP,includingaParticipantwhoisa“specifiedemployee”asdefinedinSection409A,shallbeadjustedordelayed
and(b)anytermofthe2016LTIPmaybeadjusted,insuchmannerastocomplywithSection409Aandmaintaintheintentofthe2016LTIP
tothemaximumextentpossible.Morespecifically,totheextentanypaymentprovidedtoaParticipantunderthe2016LTIPconstitutesnon
excepteddeferredcompensationunderSection409AandtheParticipantisatthetimeofhisterminationofemploymentconsideredtobea
“specifiedemployee”pursuanttotheCompany’spolicyfordeterminingsuchemployees,thepaymentofanysuchnonexceptedamountand
the provision of such non excepted benefits will be delayed for six months following the Participant’s separation from service.
Notwithstanding the foregoing, Delta shall not have any liability to any Participant or any other person if any payment is determined to
constitute“nonqualifieddeferredcompensation”withinthemeaningofSection409Aanddoesnotsatisfytheadditionalconditionsapplicable
tononqualifieddeferredcompensationunderSection409A.
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