Delta Airlines 2015 Annual Report Download - page 175
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Please find page 175 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.EXHIBIT10.18
DELTAAIRLINES,INC.
2016MANAGEMENTINCENTIVEPLAN
1.Purpose.The2016ManagementIncentivePlan(the“MIP”)isanannualincentiveprogramsponsoredbyDeltaAirLines,Inc.(“Delta
”orthe“Company”)thatisintendedtoclosely:(a)linkpayandperformancebyprovidingmanagementemployeeswithacompensation
opportunity based on Delta achieving key business plan goals in 2016 and (b) align the interests of management employees with the
Company’sotheremployeesandstakeholders.TheMIPisbeingadoptedunder,andissubjecttothetermsof,theDeltaAirLines,Inc.2007
Performance Compensation Plan (the “ 2007Plan”). Capitalized terms that are used but not defined in the MIP shall have the meaning
ascribedtotheminthe2007Plan.
2.PlanAdministration.(a)ThePersonnel&CompensationCommitteeoftheBoardofDirectors(the“Committee”)shallberesponsible
forthegeneraladministrationandinterpretationoftheMIPandforcarryingoutitsprovisions.TheCommitteeshallhavesuchpowersasmay
benecessarytodischargeitsdutieshereunder,including,withoutlimitation,thefollowingpowersandduties,butsubjecttothetermsofthe
MIP:
(i)authoritytoconstrueandinterpretthetermsoftheMIP,andtodetermineeligibility,awardsandtheamount,manner
andtimeofpaymentofanyawardshereunder;
(ii)authoritytoprescribeformsandproceduresforpurposesofMIPparticipationanddistributionofawards;
(iii) authority toadopt rulesand regulationsand to takesuch actionsas itdeems necessaryor desirablefor theproper
administrationoftheMIP,whichauthoritymaybedelegatedtotheCompany’sChiefHumanResourcesOfficer;and
(iv)authorityatanytimepriortoaChangeinControltoeliminateorreducetheactualpayouttoanyParticipantintheMIP.
(b)AnyruleordecisionbytheCommitteethatisnotinconsistentwiththeprovisionsoftheMIPshallbeconclusiveandbinding
onallpersons,andshallbegiventhemaximumdeferencepermittedbylaw.
(c)Notwithstandinganythingcontainedinthe2007Plantothecontrary,theCommitteeshallnothavetheauthoritytoincreasethe
actualpayouttoanyParticipantintheMIP.
3. Eligibility. All Delta employees worldwide who are officers, managing directors (grade 13), directors (grade 12), general managers
(grade11),grade10orgrade8(otherthanemployeeswhoparticipateinasalesincentiveplanorothermajorfunctionalincentiveplan,as
maybeineffectfromtimetotime)areeligibletoparticipateintheMIP(“Participants”).
4.MIPAwards.
(a)General.TheMIPaward(the“MIPAward”)eachParticipantreceives,ifany,willbebasedon:(i)theParticipant’sTargetMIP
Award,asdefinedbelow;(ii)thelevelofachievementwithineachapplicableperformancemeasure;and(iii)theoccurrenceofapayoutfor
2016undertheCompany’sbroad-basedemployeeprofitsharingprogramforgroundandflightattendantemployees(the“ProfitSharing
Program ”), as described below. Certain additional requirements will apply to any Participant who is employed by the Company as an
executivevicepresidentormoreseniorofficeroftheCompany(“ExecutiveOfficerParticipant”),asdiscussedinSection7(b)below.
(b)PerformanceMeasures.Theperformancemeasuresusedwillbeoneormoreoffinancial(“FinancialPerformance”),
operational(“OperationalPerformance”), revenue (“Revenue Performance ”),leadership effectiveness(“ LeadershipEffectiveness
Performance”)andindividualperformance(“IndividualPerformance”).Achievementundereachperformancemeasuremayrangefrom
belowthreshold,atwhichthereisnopayout,tothemaximumperformancelevel,atwhichthepayoutwillbegreaterthanthetargetlevel,
subjecttoSection4(c)below.
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