Exhibit 10.25
December 8, 2004
Xx. Xxxxxxx X. Xxxxxx
Chairman
Codina Group, Inc.
000 Xxxxxxxx Xxxxxx, Xxxxx 000
Xxxxx Xxxxxx, XX 00000
Dear Xxxxxxx:
This will confirm the following agreement relating to the deferral of your
director's fees in 2005.
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, 2005 through December 31, 2005, 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 Exhibit A (the "Plan").
3. On or before January 31, 2015, the Stock Equivalent Units accrued
in 2005 pursuant to this agreement will be converted to cash and paid to you by
multiplying the number of such Stock Equivalent Units as of December 31, 2014,
by the arithmetic mean of the high and low of AMR stock ("fair market value")
during December 2014.
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 Xxxxxxxxx Xxxxxx.
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. XxxXxxx
Corporate Secretary
Accepted and agreed:
/s/ Xxxxxxx X. Xxxxxx
--------------------------
Xxxxxxx X. Xxxxxx
12/14/2004
--------------------------
Date
