DEFERRED UNIT AWARD AGREEMENTDeferred Unit Award Agreement |
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Search Deferred Unit Award Agreement by:
Exhibit 10.2
DEFERRED UNIT AWARD AGREEMENT
This AGREEMENT made this date, July 25, 2005, by and
between AMR Corporation, a Delaware corporation (the
"Corporation"), and First Last (the "Employee"), employee
number 000000.
WHEREAS, the Compensation Committee (the "Committee")
of the Board of Directors has determined that the Employee
is a key employee and has further determined to make an
award of Deferred Units to the Employee as an inducement for
the Employee to remain with the Corporation (or a Subsidiary
or Affiliate thereof) and to motivate the Employee during
such employment.
NOW, THEREFORE, the Corporation and the Employee hereby
agree as follows:
1. Grant of Award.
The Employee is hereby granted as of July 25, 2005 (the
"Grant Date") a Deferred Unit Award (the "Award"), subject
to the terms and conditions of this Agreement, with respect
to 0,000 Deferred Units (the "Units"). The Units covered by
the Award will vest, if at all, in accordance with Section 2
hereof. July 25, 2008, is hereby established as the
"Vesting Date" of the Award.
2. Distribution of Award.
Payment with respect to the Award, on the Vesting Date,
will occur, if at all, in accordance with the following
terms and conditions:
(a) If the Employee is on the payroll of a Subsidiary
that is wholly owned by the Corporation as of the Vesting
Date, a payment (determined in accordance with Section 4 of
this Agreement) will be made to the Employee in accordance
with the following schedule:
Number of Units Vesting Date
0,000 7/25/2008
Payment under this Section 2(a) will be made within 30
days of the Vesting Date.
(b) In the event the Employee's employment with the
Corporation (or a Subsidiary or Affiliate thereof) is
terminated prior to the Vesting Date due to the Employee's
death, Disability, Retirement or termination not for Cause
(each an "Early Termination"), the Award will vest on a pro-
rata basis and will be paid to the Employee (or, in the
event of the Employee's death, the Employee's designated
beneficiary for the purposes of the Award, or in the absence
of an effective beneficiary designation, the Employee's
estate). The pro-rata basis will be a percentage where the
denominator is 36 and the numerator is the number of months
from the Grant Date through the month of Early Termination,
inclusive. The pro-rata Award will be paid to the Employee
(or, in the event of the Employee's death, the Employee's
designated beneficiary for the purposes of the Award, or in
the absence of an effective beneficiary designation, the
Employee's estate) within 60 days after the Employee's
death, date of separation from employment due to Retirement
or termination not for Cause or Disability subject in all
cases to Section 2(e). For purposes of this Section 2(b),
"Disability" shall mean "disability" as defined in section
409A(a)(2)(C) of the Internal Revenue Code of 1986, as
amended (the "Code"). The amount of the payout will be
calculated in accordance with Section 4.
(c) In the event of a Change in Control of the
Corporation prior






