Exhibit 10.23

 

 

November 14, 2002

 

Mr. Roger T. Staubach

Chairman & CEO

The Staubach Company

15601 Dallas Parkway

Suite 400

Addison, TX 75001

 

Dear Mr. Staubach:

 

This will confirm the following agreement relating to the deferral of your
director’s fees in 2003.

 

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, 2003 through December 31, 2003 , 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.                                       Within 30 days of the date when you
cease to be a Director of AMR Corporation, the Stock Equivalent Units accrued
pursuant to the Plan will be converted to cash and paid to you by multiplying
the number of such Stock Equivalent Units by the arithmetic mean of the high and
the low of AMR stock during the month when you ceased to be a Director of AMR
Corporation.

 

4.                                       AMR’s obligation to make the payment
pursuant to paragraph 3 hereof will not be released or modified by reason of
your death.  In such event, the cash payment contemplated by paragraph 3 will be
made to Marianne Staubach.

 

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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,

 

 

 

 

 

Charles D. MarLett

 

Corporate Secretary

 

 

Accepted and agreed:

 

 

 

 

 

/s/ Roger T. Staubach

 

 

Roger T. Staubach

 

 

 

11/20/02

 

 

Date

 

 

2

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