Delta Airlines 2013 Annual Report Download - page 142

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(C) Death
. This Section 8(a)(iii)(C) applies to any Participant who incurs a Termination of
Employment prior to January 1, 2015 due to the Participant’s death. The Participant’
s estate will be eligible to
receive a Pro Rata MIP Payment made in cash as soon as practicable after a Participant’
s Termination of
Employment, but in no event later than 2½ months following the end of the year in which the Termination of
Employment occurs. “ Pro Rata MIP Payment” means the result of the following formula: W × Z/12, where:
W = the Participant’s Target MIP Award; and
Z = the number
of calendar months the Participant was actively employed by Delta during 2014 in
a MIP-eligible position, rounded up for any partial month.
(b) Other Changes in Employment Status .
The terms of this Section 8(b) shall apply to circumstances involving new
hires, promotions, demotions, transfers or leaves of absence during 2014. After a Participant’
s Target MIP Award is determined
under this Section 8(b), the appropriate weighting of performance measures will apply to each portion of such Target MIP Award
as set forth in Section 5 above. For partial calendar months, the change in employment status will be considered effective as of the
1
st
day of the month in which there is a change in status; provided, however
, in the event that a Participant was (i) on a Disability
leave of absence for a period of less than one calendar month during 2014 and (ii) actively at work for at least one full day during
such calendar month, the Participant will be deemed to have been employed in a MIP-
eligible position for the entire calendar
month. The end of year annual performance evaluation will apply to any Individual Performance measure applicable to the
Participant unless the Participant is no longer subject to the such evaluation process after the change in employment status, in which
case the most recent annual performance evaluation will apply. Any MIP Awards payable under this Section 8(b) will be paid at the
same time and in the same manner as such awards are paid to active Participants, subject to Section 7(b) above.
(i) New Hires.
With respect to any individual who becomes employed by Delta as a grade 8 or any more senior
MIP-
eligible position during 2014 but after January 1, 2014, such individual will be a Participant in the MIP and will be
eligible to receive an award under the MIP for 2014; provided, that such Participant’
s Annual Base Salary will be the result
of the following formula: X × Y/12, where:
X = the Participant’s annual base salary as of December 31, 2014; and
Y = the number of calendar months the Participant was actively employed by Delta in a MIP-
eligible position
during 2014, rounded up for any partial month.
(ii) Promotions. Participants who are either promoted into a MIP-
eligible job level or promoted into a higher
level of MIP participation during 2014 will have their Target MIP Award calculated based on their annual base salary at
each MIP-
eligible job level (measured as of the date immediately prior to the date the promotion is considered effective for
purposes of the MIP, if applicable, as described in the first paragraph of Section 8(b) above, and as of December 31, 2014)
and the
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