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Exhibit 10.25
January 24, 2000
Xx. Xxxxxxx X. Xxxxxx, Xx.
0000 Xxxxxxxxx
Xxxxxx, Xxxxx 00000
Dear Xxxxxxx:
This will confirm the following agreement relating to the
deferral of, and payment of, your directors' fees and retainers:
1. All directors' fees and retainers payable to you in
connection with your service on the boards of directors (including committees of
such boards) of AMR Corporation ("AMR") and American Airlines, Inc. for the
period January 1, 2000, through December 31, 2000, will be paid to you on a
deferred basis as set forth below.
2. Interest will be accrued on the amounts to be paid on a
deferred basis pursuant to paragraph 1 above, from the date such fees would
otherwise have been paid to the date actually paid, at the prime rate which The
Chase Manhattan Bank (National Association) from time to time charges in New
York for 90-day loans to responsible commercial borrowers, such interest to be
compounded monthly.
3. The total amount to be paid on a deferred basis plus the
aggregate amount of interest accrued thereon and to accrue on the portion unpaid
from time to time will be paid to you in a lump sum distribution during the
month of January 2004.
4. AMR's obligation to make payments pursuant to paragraph 3
hereof will not be released or modified by reason of your death. In the event of
your death prior to the payments contemplated by paragraph 3 hereof, the amounts
deferred and interest thereon will be paid to Xxxxxx Xxxxxx.
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If the foregoing is satisfactory to you, please indicate by
signing and returning the enclosed copy of this letter.
Very truly yours,
Xxxxxxx X. XxxXxxx
Corporate Secretary
Accepted and agreed:
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Xxxxxxx X. Xxxxxx, Xx.
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Date
