Delta Airlines 2015 Annual Report Download - page 174

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seniorofficerParticipanthasengagedinfraudormisconductthatcaused,inwholeorinpart,theneedforarequiredrestatementofDelta’s
financial statements filed with the SEC, the Committee will review all incentive compensation awarded to or earned by the Participant,
including,withoutlimitation,anyAwardunderthe2016LTIP,withrespecttofiscalperiodsmateriallyaffectedbytherestatementandmay
recoverfromtheParticipantallsuchincentivecompensationtotheextentthattheCommitteedeemsappropriateaftertakingintoaccountthe
relevantfactsandcircumstances.AnyrecoupmenthereundermaybeinadditiontoanyotherremediesthatmaybeavailabletoDeltaunder
applicablelaw,including,disciplinaryactionuptoandincludingterminationofemployment.
8.Section409AoftheCode.TotheextentrequiredtobeincompliancewithSection409AoftheCode,andtheregulationspromulgated
thereunder(together,“Section409A”),notwithstandinganyotherprovisionofthisPlan,(a)anypaymentorbenefittowhichaParticipantis
eligibleunderthe2016LTIP,includingaParticipantwhoisa“specifiedemployee”asdefinedinSection409A,shallbeadjustedordelayed
and(b)anytermofthe2016LTIPmaybeadjusted,insuchmannerastocomplywithSection409Aandmaintaintheintentofthe2016LTIP
tothemaximumextentpossible.Morespecifically,totheextentanypaymentprovidedtoaParticipantunderthe2016LTIPconstitutesnon
excepteddeferredcompensationunderSection409AandtheParticipantisatthetimeofhisterminationofemploymentconsideredtobea
“specifiedemployee”pursuanttotheCompany’spolicyfordeterminingsuchemployees,thepaymentofanysuchnonexceptedamountand
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“nonqualifieddeferredcompensation”withinthemeaningofSection409Aanddoesnotsatisfytheadditionalconditionsapplicable
tononqualifieddeferredcompensationunderSection409A.
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