Letter Agreement Regarding Waiver of Change in Control Provisions – Richard H. Anderson and Delta Air Lines, Inc.
This letter agreement documents that Richard H. Anderson, Chief Executive Officer of Delta Air Lines, voluntarily waives his right to enhanced or accelerated compensation benefits that would otherwise be triggered by a change in control, as defined in his existing agreements, due to Delta's merger with Northwest Airlines. The waiver applies to all compensation arrangements in effect as of April 14, 2008, the date Delta and Northwest entered into a binding merger agreement.
EXHIBIT 10.11(b)
Richard H. Anderson
Chief Executive Officer
October 29, 2008
David Goode –Chairman
Personnel & Compensation Committee
of the Board of Directors
Delta Air Lines, Inc.
World Headquarters
Atlanta, Georgia 30320
Dear David:
As you are aware, I have certain compensation arrangements with Delta that provide for enhanced or accelerated benefits in the event a transaction in which Delta is involved constitutes a change in control as defined in those agreements. This letter will confirm that at the Committee’s February 7, 2008 meeting, I voluntarily agreed to waive these change in control provisions for any arrangement in effect for me as of the date Delta (or any subsidiary of Delta) entered into a binding merger agreement with Northwest Airlines Corporation.
Delta and Northwest entered into a binding merger agreement April 14, 2008. Thus, my voluntary waiver described above covers any compensation arrangement in effect for me at that time.
Sincerely,
| /s/ Richard H. Anderson |
Delta Air Lines, Inc., Post Office Box 20706, Atlanta, GA 30320-6001,U S.A.
