Mr. Edward A. Brennan 400 North Michigan Avenue Suite 400 Chicago, IL 60611 Dear Ed: This will confirm the following agreement relating to the deferral of your director’s fees in 2007.
Exhibit 10.18
November 29, 2006
Xx. Xxxxxx X. Xxxxxxx
000 Xxxxx Xxxxxxxx Xxxxxx
Xxxxx 000
Xxxxxxx, XX 00000
000 Xxxxx Xxxxxxxx Xxxxxx
Xxxxx 000
Xxxxxxx, XX 00000
Dear Ed:
This
will confirm the following agreement relating to the deferral of your director’s
fees in 2007.
1. All
director’s fees and retainers (“Fees”) payable to you in connection
with your service on the boards of directors (including committees of such boards) of AMR
Corporation and American Airlines, Inc. for the period January 1, 2007 through the date of the
annual meeting of AMR Corporation, will be deferred and paid to you in accordance with this letter
agreement.
2. Fees will be converted to Stock Equivalent Units in accordance with the Directors’ Stock
Equivalent Purchase Plan, a copy of which is attached hereto as Attachment A (the
“Plan”).
3. In the event of your death during 2007, the number of Stock Equivalent Units as of your
date of death will be multiplied by the fair market value of AMR stock during the calendar month
immediately preceding your death, and the amount paid to Xxxx Xxxxxxx. The payment contemplated by
this paragraph 3 will be made on the 30th business day following the date of your death.
If the foregoing is satisfactory to you, please indicate by signing one of the originals (two
are enclosed) and returning it to me.
Very truly yours, | |||
Xxxxxxx X. Xxxxxxxx | |||
Corporate Secretary |
Accepted and agreed:
/s/ Xxxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxxxx |
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12/4/06
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Date |