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Delta Air Lines Inc. (DAL)
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DAL » Topics » Severance Event

This excerpt taken from the DAL 10-Q filed Oct 31, 2007.
Severance Event”), an amount equal to:

 

(a)        6 months’ Base Salary for Directors, plus 50% of any applicable MIP Target Amount;

 

(b)       9 months’ Base Salary for Vice Presidents and Senior Vice Presidents, plus 75% of any applicable MIP Target Amount; or

 

(c)        12 months’ Base Salary for Executive Vice Presidents and higher ranking Officers, plus 100% of any applicable MIP Target Amount; and

 

(2)       with respect to any termination of employment: (a) by Delta without Cause either (i) during the Protected Period or (ii) during the period between the Change in Control Date and the second anniversary thereof but only with respect to any Participant employed by Delta as of the Change in Control Date; or (b) due to any Participant’s resignation from employment for Good Reason between the Change in Control Date and the second anniversary thereof but only with respect to by a Participant employed by Delta as of the Change in Control Date (individually and collectively, a

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