February 1, 2022Executive Employment Agreement • May 2nd, 2022 • Southwest Airlines Co • Air transportation, scheduled
The purpose of this letter is to confirm your agreement (the “Agreement”) with Southwest Airlines Co. (the “Company”), effective as of February 1, 2022 (the “Effective Date”), concerning your continued services as an executive of the Company. As of the Effective Date, you agree that your Letter Agreement dated effective as of February 1, 2011 (the “Prior Letter Agreement”) is terminated and will be of no force and effect, but that the Deferred Compensation (as defined below) benefits previously accrued under the Prior Letter Agreement will be provided pursuant to Section 5(c) of this Agreement. Nothing in this Agreement is intended to change the time or form of payment set forth in the Prior Letter Agreement for purposes of Section 409A of the Internal Revenue Code (the “Code”), and Section 5(c) of this Agreement merely restates the material and applicable terms of the accrued Deferred Compensation benefits provided under the Prior Letter Agreement.
