First Amendment to Severance Agreement between US Airways, Inc. and Jerrold A. Glass

Contract Categories: Human Resources › Severance Agreements
Summary

This amendment updates the severance agreement between US Airways, Inc. and Jerrold A. Glass. It clarifies that certain transactions, including those related to the Retirement Systems of Alabama investment agreement and the company's emergence from bankruptcy, will not be considered a change of control. It also adds that relocating the company's headquarters outside the Washington, D.C. area is a significant event under the agreement. The amendment is effective as of March 31, 2003.

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EX-10.4 7 dex104.txt EXHIBIT 10.4 EXHIBIT 10.4 FIRST AMENDMENT TO SEVERANCE AGREEMENT This First Amendment, dated as of March 31, 2003, to the Severance Agreement dated April 8, 2002, between US Airways, Inc. a Delaware corporation (the "Company"), and Jerrold A. Glass (the "Executive") is entered into as of the date first stated above. WHEREAS, the Company and the Executive have previously entered into the Agreement; and WHEREAS, the Company and the Executive desire to amend the Agreement as set forth herein. NOW THEREFORE, the following amendments are hereby made to the Agreement: 1. Section 2 of the Agreement is hereby amended by the addition of the following language at the end thereof: "Notwithstanding the foregoing provisions of this Section 2, no "Change of Control" or "Change in Control" shall be deemed to have occurred in connection with transactions under the Retirement Systems of Alabama investment agreement dated September 26, 2002, as amended, or in connection with the Company's emergence from bankruptcy." 2. Section 5(d)(i) of the Agreement is hereby amended by substituting "; or" for ", and" at the end of Section 5(d)(i)(4), and by the addition of the following as Section 4(d)(i)(5): "(5) any relocation of the Company's corporate headquarters outside of the Washington, D.C. metropolitan area; and". 3. Section 5(d)(ii) of the Agreement is hereby amended by substituting "; or" for the period at the end of Section 5(d)(ii)(5), and by the addition of the following as Section 5(d)(ii)(6): "(6) any relocation of the Company's corporate headquarters outside of the Washington, D.C. metropolitan area." EXECUTIVE /s/ Jerrold A. Glass Jerrold A. Glass US AIRWAYS, INC. By /s/ Jennifer C. McGarey Name: Jennifer C. McGarey Title: Vice President, Deputy General Counsel & Secretary