Exhibitt 10.2
DELTA AIR LINES, INC. MERGER
AWARD PROGRAM
AWARD AGREEMENT
Date of this Agreement:
Grant Date:
[Name]
This Award
Agreement (the “ Agreement ”) describes some of
the terms of your award (the “ Award ”) under
the Delta Air Lines, Inc. Merger Award Program (which is subject to
the Delta Air Lines, Inc. 2007 Performance Compensation Plan) (the
“ MAP ”). Your Award is subject to
the terms of the MAP and this Agreement. Capitalized
terms that are used but not otherwise defined in this Agreement
have the meaning set forth in the MAP. In order for this
Award to remain effective, you must accept the Award in accordance
with Section 9 on or before the date that is 30 calendar days after
the date of this Agreement (the “ Acceptance Date
”). If you do not accept the Award as required,
the Award and this Agreement will become void and of no further
effect as of 5:00 pm Eastern Time on the Acceptance
Date.
1.
Summary of Award . Your Award will include Restricted Stock and a
Non-Qualified Stock Option (“ Stock Option ”) as
described below. Terms applicable to your Award,
including the lapsing of the Restrictions on your Restricted Stock,
the exercisability of your Stock Option and the forfeitability of
your Award, are included in the MAP.
(a)
Restricted Stock. You are hereby awarded,
on the Grant Date above (the “ Grant Date
”), Restricted Stock for [NUMBER] shares of Delta
Common Stock, par value $0.0001 per share (“ Common
Stock ”).
(b)
Non-Qualified Stock Option. You are
hereby awarded, on the Grant Date, a Stock Option exercisable for
[NUMBER] shares of Common Stock. The exercise price of
the Stock Option will be the closing price of a share of Common
Stock on the NYSE on the Grant Date.
2.
Restrictive Covenants .
In exchange for the Award, you hereby agree as
follows:
(a)
Trade Secrets . You hereby
acknowledge that during the term of your employment with Delta Air
Lines, Inc., its subsidiaries and affiliates (“ Delta
”), you have acquired and will continue to acquire knowledge
of secret, confidential and proprietary information regarding Delta
and its business that fits within the definition of “trade
secrets” under the law of the State of Georgia, including,
without limitation, information regarding Delta’s present and
future operations, its financial operations, marketing plans and
strategies, alliance agreements and relationships, its compensation
and incentive programs for employees, and the business methods used
by Delta and its employees, and other information which derives
economic value, actual or potential, from not being generally known
to, and not being readily ascertainable by proper means by, other
persons who can obtain economic value from its disclosure or use,
and is the subject of efforts that are reasonable under the
circumstances to maintain its secrecy (each, a “ Trade
Secret ”). You hereby agree that for so long
as such information remains a Trade Secret as defined by Georgia
law, you will hold in a fiduciary capacity for the benefit of Delta
and shall not directly or indirectly make use of, on your own
behalf or on behalf of others, any Trade Secret, or transmit,
reveal or disclose any Trade Secret to any person, concern or
entity. Nothing in this Agreement is intended, or shall
be construed, to limit the protections of any applicable law
protecting trade secrets.
(b)
Confidential or Proprietary Information
. You further agree that you will hold in a
fiduciary capacity for the benefit of Delta, and, during the term
of your employment with Delta and for the two year period after
such employment terminates, shall not directly or indirectly use or
disclose, any Confidential or Proprietary Information, as defined
hereinafter, that you acquire (whether or not developed or compiled
by you and whether or not you were authorized to have access to
such Confidential or Proprietary Information) during the term of,
in the course of, or as a result of your employment by
Delta. Subject to the provisions set forth below, the
term “ Confidential or Proprietary Information ”
as used in this Agreement means the following secret, confidential
and proprietary information of Delta not otherwise included in the
definition of Trade Secret: all marketing, alliance,
advertising and sales plans and strategies; all pricing
information; all financial, advertising and product development
plans and strategies; all compensation and incentive programs for
employees; all alliance agreements, plans and processes; all plans,
strategies, and agreements related to the sale of assets; all third
party provider agreements, relationships, and strategies; all
business methods and processes used by Delta and its employees; all
personally identifiable information regarding Delta employees,
contractors, and applicants; and all lists of actual or potential
customers or suppliers maintained by Delta. The term
“Confidential or Proprietary Information” does not
include information that has become generally available to the
public by the act of one who has the right to disclose such
information. Nothing in this Agreement is intended, or
shall be construed, to limit the protections of any applicable law
protecting confidential or proprietary information.
(c)
Employee Non-Solicitation Agreement.
During the term of your employment with Delta and
during the one-year period following the termination of such
employment, you will not directly or indirectly (on your own behalf
or on behalf of any other person, company, partnership, corporation
or other entity), employ or solicit for employment any individual
who is a management or professional employee of Delta
for employment with any entity or person other than Delta or
solicit, encourage or induce any such person to terminate their
employment with Delta. The restrictions set forth in
this Section shall be limited to those Delta management or
professional employees who: (i) were employed by Delta during your
employment in a supervisory or administrative job; and (ii) with
whom you had material professional contact during your employment
with Delta.
(d)
Non-Competition Agreement . You acknowledge that Delta competes
in a worldwide passenger air travel market, and Delta’s
business plan is increasingly international in scope. You
also acknowledge that although Delta’s business plan focuses
on international air travel as a critical component, Delta will
continue to provide primarily domestic air travel service.
You acknowledge that the airlines listed below are particular
competitors to Delta in the domestic or international market, and
employment or consulting with any of the listed carriers would
create more harm to Delta than relative to your possible employment
or consulting with other air passenger carriers or air cargo
carriers. You agree that the restrictions placed on you under
this paragraph will not prevent you from e
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