Delta Airlines 2015 Annual Report Download - page 178

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(c)RevenuePerformanceMeasures.TheRevenuePerformancemeasuresfor2016willbemeasuredbasedonthecomparisonof
Delta’sTRASMforthe2016calendaryearoverthe2015calendaryearrelativetotheIndustryGroupAverageTRASMforthe2016calendar
year over the 2015 calendar year. The following table describes the performance ranges and award payout levels for 2016 Revenue
Performance,subjecttoSection4(c)above:

Threshold Target Maximum
%ofTargetRevenuePerformanceMeasurePaid 50% 100% 200%
Delta’s2016TRASMover2015TRASMrelativetoIndustryGroup
AverageTRASMforthesameperiod 2015TRASMminus1.0%points 2015TRASM 2015TRASMplus1.0%pointsor
more
PayoutsbasedonRevenuePerformancewillbestraight-lineinterpolatedwhenactualperformanceresultsfallaboveThresholdandbelow
Target or above Target and below Maximum; provided, however , if 2016 Financial Performance equals or exceeds the Maximum
performance level, payouts based on Revenue Performance will not be less than the Target amount regardless of whether the actual
performanceresultsfallbelowTarget.
“ Available Seat Mile ” means the consolidated scheduled and non-scheduled total number of seats available for transporting
passengersduringareportingperiodmultipliedbythetotalnumberofmilesflownduringthatperiod.
“IndustryGroup”meansAlaskaAirGroup,Inc.,AmericanAirlinesGroup,Inc.,JetBlueAirwaysCorporation,SouthwestAirlines
Co.,andUnitedContinentalHoldings,Inc.
“IndustryGroupAverageTRASM”meanstheaggregateTotalOperatingRevenueforallmembersoftheIndustryGroupdivided
bytheaggregateAvailableSeatMilesofallmembersoftheIndustryGroup.
“TotalOperatingRevenue”means,forDeltaandeachmemberoftheIndustryGroup,theapplicablecompany’stotaloperating
revenue for a calendar year based on its regularly prepared and publicly available statements of operations prepared in accordance with
GAAP;provided,withrespecttoDelta,TotalOperatingRevenueshallexcludetheportionofrevenueassociatedwithrefinerysalestothird
partiesnetofexchange.
In determining the Total Operating Revenue for Delta and each member of the Industry Group, the Committee shall make such
adjustments with respect to any subject company as is necessary to ensure the results are comparable, including, without limitation,
differences in accounting policies (for example, non-recurring adjustments to deferred revenue resulting from (i) initial application of
accounting policies; (ii) the application of accounting policies to materially modified contracts; or (iii) significant accounting estimate
changes associated with mergers, acquisitions, divestitures or fresh start accounting as a result of emergence from bankruptcy). Without
limitingthegeneralityoftheforegoing,theCommitteeshall(i)makesuchdeterminationsbasedonpubliclyauditedfinancialstatementsfiled
bythesubjectcompanywiththeU.S.SecuritiesandExchangeCommissionand(ii)excludefromanycalculationanyitemofgain,lossor
expensetobespecialorunusualinnatureorinfrequentinoccurrence.
“TRASM”meansTotalOperatingRevenuedividedbyAvailableSeatMiles.
(d)LeadershipEffectivenessPerformanceMeasure.TheLeadershipEffectivenessPerformancemeasure(applicabletoParticipants
who are vice presidents or senior vice presidents) for 2016 will be based on an evaluation of whether a Participant has demonstrated
leadership attributes and results during 2016 including, among other things, supporting diversity, providing talent management, meeting
financialbudget, improvingemployeeengagement,andbeingarolemodelfortheRulesoftheRoad.Theperformancerangesandaward
payoutlevelswillbedeterminedbytheCommittee,subjecttoSection4(c)above.
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(e)   Individual Performance Measure. The Individual Performance measure (applicable to Participants who are not officers) is
generallydeterminedbyeachParticipant’sperformanceevaluationattheendof2016.Theperformancerangesandawardpayoutlevelswill
bedeterminedbytheCommittee,subjecttoSection4(c)above.
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