Common use of Airline Pass Clause in Contracts

Airline Pass. Executive is entitled to receive a lifetime airline pass for the personal use of such Executive and his spouse and children so long as spouses and children of employees generally are eligible for nonrevenue travel pursuant to the Company's pass policies (hereinafter, "Eligible Individuals"). Such airline pass (the "Airline Pass") shall entitle Executive and Eligible Individuals to travel on regularly scheduled Northwest domestic and international flights, subject to charges then applicable to senior executives of the Company and their dependents, with boarding priority of (i) F-1 or the equivalent thereof for ten years from and after the date such pass is issued, (ii) Y-1/F-2 or the equivalent thereof for the next succeeding ten years and (iii) 2-R or the equivalent thereof after the aggregate twenty-year period described in clauses (i) and (ii) above. Each Executive shall be responsible for any personal income tax liability arising from such pass travel. The Airline Pass shall be issued to Executive upon Executive's termination of employment with the Company; provided, however, that all benefits under this Section 3.1 shall immediately and permanently cease in the event Executive is or becomes, at any time thereafter, an employee of any of the top five airlines in the United States (other than the Company) ranked by revenue passenger miles (the "Top Five Airlines").

Appears in 5 contracts

Samples: Management Compensation Agreement (Northwest Airlines Corp), Management Compensation Agreement (Northwest Airlines Corp), Management Compensation Agreement (Northwest Airlines Corp)

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