Letter Agreement between Southwest Airlines Co. and Gary C. Kelly, effective as of February 1, 2022

4.Necessary Support and Environment. Throughout the Term, and thereafter for so long as you shall desire, you will be provided with an office suite, equipment, and staff support (collectively, “Support”) consistent with the Support you received as Chief Executive Officer of the Company.

c.Deferred Compensation. Until payment in full of such amounts, the Company will continue to set aside on its books, as previously provided in your Prior Letter Agreement, a special ledger Deferred Compensation Account (the “Account”) for you, and will credit thereto deferred compensation determined as hereinafter

provided (“Deferred Compensation”). For the 2022 calendar year, but not thereafter, your Account will be credited with a contribution equal to any contributions (including forfeitures but excluding any elective deferrals actually returned to you) which would otherwise have been made by the Company on your behalf to the Southwest Airlines Co. Profit-sharing Plan and Southwest Airlines Co. 401(k) Plan for the 2022 plan year, but which exceed the amount permitted to be so contributed due to the limitations under Sections 415(c) (the “415(c) Excess Amount”) and 401(a)(17) of the Code. Such 2022 contribution will be made to your Account only to the extent you are otherwise entitled to an allocation of the “Company Contribution” to the Southwest Airlines Co. ProfitSharing Plan for such year in accordance with the terms of the ProfitSharing Plan. All Deferred Compensation credited to your Account (including the Interest hereinafter provided) will be paid to you at the rate of $200,000 per calendar year (subject to such payroll and withholding deductions as may be required by law) (the “Annual Payment”) commencing with the calendar year following the year in which you incur a Separation from Service, with the Company and continuing until the entire amount of Deferred Compensation and Interest credited to the Account has been paid. Although the total amount of Deferred Compensation ultimately payable to you hereunder will be computed in accordance with the provisions set forth above, there will continue to be accrued and credited to the Account annually until the entire balance of the Account has been distributed (whether such distribution takes place during the Term or thereafter), amounts equal to simple interest at the rate of 120% of the Applicable Federal Long-term Rate for January 2023, compounded annually (“Interest”), on the accrued and unpaid balance of the Deferred Compensation credited to the Account as of the preceding December 31. The Annual Payment to be paid in any one calendar year will be paid on the first business day of such calendar year; but the first of such Annual Payment will be deferred to the extent necessary to cause such payment to comply with the six month deferral rule described in Section 409A(a)(2)(B) of the Code if you are a “specified employee” within the meaning of such section at the time of your Separation from Service (as defined below). Notwithstanding the foregoing, in the event of your death, then the unpaid balance of the Deferred Compensation (together with any accrued Interest thereon) will be paid to the executors or administrators of your estate in cash in one lump sum on the first business day of the calendar year next following the calendar year in which your death occurred. The Company, at its election, may fund the payment of Deferred Compensation by setting aside and investing such funds as the Company may from time to time determine. Neither the establishment of the Account, the crediting of Deferred Compensation thereto, nor the setting aside of any funds will be deemed to create a trust. Legal and equitable title to any funds set aside will remain in the Company, and you will have no security or other interest in such funds. Any funds so set aside or invested will remain subject to the claims of the creditors of the Company, present and future. No right, title, interest or benefit under this paragraph will ever be liable for or charged with any of the torts or obligations of you or any person claiming under you, or be subject to seizure by any creditor of you or any person claiming under you. Neither you nor any person claiming under you will have the power to anticipate or dispose of any right, title, interest or benefit under this paragraph in any manner until the same is actually distributed by the Company. For purposes of this section, “Separation from Service” means a “separation from service” within the meaning of Treasury Regulation §1.409A-1(h),under which there occurs a reasonably anticipated permanent reduction in the level of bona fide services performed by you for the Company and all Affiliates to 20% or less of the average level of bona fide services performed by you for the Company and all Affiliates (whether as an employee or an independent contractor) in the immediately preceding thirty-six (36) months. For purposes of this paragraph, the term “Affiliate” means each entity that would be considered a single employer with the Company under Section 414(b) or Section 414(c) of the Code, except that the phrase “at least 50%” shall be substituted for the phrase “at least 80%” as used therein.