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Collective Bargaining Agreement
Non-U.S. Tax Deferral Opportunities
January 7, 2005
Mr. Gregory E. Davidowitch, President
United Master Executive Council
Association of Flight Attendants-CWA, AFL-CIO
6250 N. River Road, Suite 4020
Rosemont, IL 60018
Re: Non-U.S. Tax Deferral Opportunities
Dear Greg:
This Letter confirms our understanding that the Company will make a good faith effort to establish arrangements that will allow internationally-domiciled Flight Attendants who do not have U.S.-source income to invest the Company Direct Contribution and Company Matching Contribution, as well as their own Earnings, to the extent possible by law and economics on a tax-deferred basis.
The Company has already engaged Towers Perrin to explore options and possible plan structures. We agree to meet with AFA-CWA to discuss the results of the Company’s research and solicit your input, on or before March 31, 2006.
Sincerely,
/s/ Lynn Hughitt
Vice President-Compensation and Benefits
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