Judith Rodin, PhD. President The Rockefeller Foundation 420 Fifth Avenue New York, NY 10018 Dear Judith: This will confirm the following agreement relating to the deferral of your director’s fees in 2007.
Exhibit 10.69
November 29, 2006
Xxxxxx Xxxxx, PhD.
President
The Rockefeller Foundation
000 Xxxxx Xxxxxx
Xxx Xxxx, XX 00000
President
The Rockefeller Foundation
000 Xxxxx Xxxxxx
Xxx Xxxx, XX 00000
Dear Xxxxxx:
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 December 31, 2007,
will be deferred and paid to you in accordance with this letter agreement.
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 will be paid to you in a lump sum distribution on the 30th business day
after the date when you cease to be a Director of AMR Corporation.
4. In the event of your death, 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 the Trustees under your Revocable Agreement of Trust,
dated September 15, 1997, as amended February 20, 2004, Xxxxxx Xxxxx Xxxxxxx and Trustee.
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 Xxxxx | ||||
Xxxxxx Xxxxx | ||||
12/6/06 | ||||
Date | ||||