Document:

Exhibit 10.13(c)

 

SECOND AMENDMENT TO THE

ATLANTIC SOUTHEAST AIRLINES, INC.

INVESTMENT SAVINGS PLAN

 

THIS SECOND AMENDMENT is made on this 31st day of
December, 2002, by ATLANTIC SOUTHEAST AIRLINES, INC., a corporation duly
organized and existing under the laws of the State of Georgia (the “Primary
Sponsor”).

 

W  I  T  N  E
S  S  E  T  H:

 

WHEREAS,
the Primary Sponsor maintains the Atlantic Southeast Airlines, Inc.
Investment Savings Plan (the “Plan”) which was last amended on May       ,
2002; and

 

WHEREAS, the Primary Sponsor now wishes to amend the
Plan primarily to comply with and make changes permitted by the Economic Growth
and Tax Relief Reconciliation Act of 2001 (“EGTRRA”);

 

WHEREAS, this amendment is intended as good faith
compliance with the requirements of EGTRRA and is to be construed in accordance
with EGTRRA and any guidance issued thereunder; and

 

WHEREAS, this amendment shall supersede the provisions
of the Plan to the extent those provisions are inconsistent with the provisions
of this amendment.

 

NOW, THEREFORE, the Primary Sponsor does hereby amend
the Plan effective as of January 1, 2002:

 

1.             By
deleting the existing Section 1.4 and substituting therefor the following:

 

“1.4         ‘Annual
Compensation Limit’ means $200,000, which amount may be adjusted in
subsequent Plan Years based on changes in the cost of living as announced by
the Secretary of the Treasury.”

 

2.             By
deleting the existing Section 1.13 and substituting therefor the
following:

 

“1.4         ‘Disability’
means a disability of a Participant within the meaning of Code Section 72(m)(7),
to the extent that the Participant is, or would be, entitled to disability
retirement benefits under the federal Social Security Act or to the extent that
the Participant is entitled to recover benefits under any long term disability
plan or policy maintained by the Plan Sponsor.”

 

3.             By
deleting the existing Section 1.18 and substituting therefor the
following:

 

“1.18       ‘Eligible
Retirement Plan’ means any of the following that will accept a Distributee’s
Eligible Rollover Distribution:

 

 

(a)   an individual
retirement account described in Code Section 408(a);

 

(b)   an individual
retirement annuity described in Code Section 408(b);

 

(c)   an annuity plan
described in Code Section 403(a) or an annuity contract described in Code
Section 403(b);

 

(d)   a qualified trust
described in Code Section 401(a); or

 

(e)   an eligible plan
under Code Section 457(b) which is maintained by a state or political
subdivision of a state, or any agency or instrumentality of a state or
political subdivision and which agrees to separately account for amounts
transferred into such plan from this Plan.

 

Effective for distributions after December 31,
2005, if any portion of an Eligible Rollover Distribution is attributable to
payments or distributions from a designated Roth account (as defined in Code Section 402A),
an Eligible Retirement Plan with respect to such portion shall include only
another designated Roth account and a Roth IRA.”

 

4.             By
deleting the existing Section 1.19 and substituting therefor the
following:

 

“1.19       ‘Eligible Rollover Distribution’  means any distribution of all or any portion
of the Distributee’s Account, except that an Eligible Rollover Distribution
does not include:

 

(a)   any distribution that is one of a series of
substantially equal periodic payments (not less frequently than annually) made
for the life (or life expectancy) of the Distributee or the joint lives (or
joint life expectancies) of the Distributee and the Distributee’s designated
Beneficiary, or for a specified period of ten (10) years of more;

 

(b)   any distribution to the extent such distribution
is required under Code Section 401(a)(9);

 

(c)   any distribution which is made upon hardship of
the Employee; and

 

(d)   except as otherwise provided in this Section, the
portion of any distribution that is not includable in gross income (determined
without regard to the exclusions for net unrealized appreciation with respect
to employer securities).

 

‘Eligible Rollover Distribution’
shall include any portion of the distribution that is not includable in gross
income provided such amount is distributed directly to one of the following:

 

2

 

(i)            an individual retirement account described in
Code Section 408(a) or an individual retirement annuity described in
Code Section 408(b) (other than an endowment contract); or

 

(ii)           a qualified trust as described in Code Section 401(a) but
only to the extent that

 

(A)          the distribution is made in a direct
trustee-to-trustee transfer;

 

(B)           the transferee plan is a defined contribution
plan; and

 

(C)           the transferee plan agrees to separately account
for amounts transferred (including a separate accounting for the portion of the
distribution which is includable in income and the portion which is not
includable in income).”

 

5.             By
deleting the existing Section 1.37 and substituting therefor the
following:

 

“1.37       ‘Rollover Amount’
means any amount transferred to the Fund by a Participant, which amount
qualifies as an Eligible Rollover Distribution under Code Sections 402(c)(4),
403(a)(4), 403(b)(8), 408(d)(3)(A)(ii), or 457(e)(16), and any regulations
issued thereunder.  Rollover Amount does
not include any amount that would not be includable in the Participant’s gross
income if it was not rolled over.”

 

6.             By deleting the existing Section 1.39
and substituting therefor the following:

 

“1.39       ‘Termination
of Employment’ means a severance from employment (within the meaning of
Code Section 401(k)(2)(B)(i)(I)) of an Employee from all Plan Sponsors and
Affiliates for any reason other than death, Disability, or attainment of a
Retirement Date.  Any absence from active
employment of the Plan Sponsor and Affiliates by reason of an approved leave of
absence shall not be deemed for any purpose under the Plan to be a Termination
of Employment.  Transfer of an Employee
from one Plan Sponsor to another Plan Sponsor or to an Affiliate shall not be
deemed for any purpose under the Plan to be a Termination of Employment.  In addition, transfer of an Employee to
another employer (other than a Plan Sponsor or an Affiliate) in connection with
a corporate transaction involving a sale of assets, merger, or sale of stock,
shall not be deemed to be a Termination of Employment, for purposes of the
timing of distributions under Section 8.1, if the employer to which such
Employee is transferred agrees with the Plan Sponsor to accept a transfer of
assets from the Plan to its tax-qualified plan in a trust-to-trust transfer
meeting the requirements of Code Section 414(l).”

 

3

 

7.             By deleting the existing Section 3.1 and substituting
therefor the following:

 

“3.1         (a)           Deferral
Amounts.  The Plan Sponsor shall make
a contribution to the Fund on behalf of each Participant who is an Eligible
Employee and has elected to defer a portion of his Annual Compensation
otherwise payable to him for the Plan Year and to have such portion contributed
to the Fund.  Except to the extent
permitted under Section 3.1(c) and Code Section 414(v), the
contribution made by a Plan Sponsor on behalf of a Participant under this Section 3.1(a) shall
be in one percent (1%) increments in an amount equal to the amount specified in
the Participant’s deferral election, but not greater than twenty-five
percent (25%) of the Participant’s Annual Compensation for the 2002 Plan
Year, and not greater than fifty percent (50%) of the Participant’s Annual
Compensation for every Plan Year thereafter. 
Pursuant to Section 4 of Appendix C, the Plan Administrator may
restrict the amount which Highly Compensated Employees may defer under this Section 3.1(a).

 

(b)           Limit on Deferral Amounts. Except to the extent permitted under Section 3.1(c) and
Code Section 414(v), Elective Deferrals shall in no event exceed the limit
set forth in Code Section 402(g) in any one taxable year of the
Participant.  In the event the amount of
Elective Deferrals exceeds Code Section 402(g) limit, in any one
taxable year then,

 

(1)           not later than the immediately following March 1,
the Participant may designate to the Plan the portion of the Participant’s
Deferral Amounts which consist of excess Elective Deferrals, and

 

(2)           not later than the immediately following April 15,
the Plan may distribute the amount designated to it under Paragraph (1) above,
as adjusted to reflect income, gain, or loss attributable to it through the end
of the Plan Year, and reduced by any ‘Excess Deferral Amounts,’ as defined in
Appendix C hereto, previously distributed or recharacterized with respect to
the Participant for the Plan Year beginning with or within that taxable year.

 

The payment of the
excess Elective Deferrals, as adjusted and reduced, from the Plan shall be made
to the Participant without regard to any other provision in the Plan.  In the event that a Participant’s Elective
Deferrals exceed the Code Section 402(g) limit, as adjusted, in any
one taxable year under the Plan and other plans of the Plan Sponsor and its
Affiliates, the Participant shall be deemed to have designated for distribution
under the Plan the amount of excess Elective Deferrals, as adjusted and
reduced, by taking into account only Elective Deferral amounts under the Plan
and other plans of the Plan Sponsor and its Affiliates.

 

(c)           Catch-Up Contributions. Effective November 1, 2002, a
Participant who is eligible to contribute Deferral Amounts to the Plan and who
has attained age 50 on or before the last day of the Plan Year shall be
eligible to elect to have a portion of his Annual Compensation otherwise
payable to him for

 

4

 

the Plan Year contributed by the Plan Sponsor to the Fund on his behalf
as catch-up contributions in accordance with and subject to the limitations of,
Code Section 414(v).  Contributions
made pursuant to this Section 3.1(c) shall not be taken into account
for purposes of implementing the limitations set forth in Section 3.1(a),
3.1(b) and Appendix A hereto.  The
Plan shall not be treated as failing to satisfy the provisions of Appendix B,
Appendix C or Code Section 410(b), as applicable, by reason of the making
of the catch-up contributions as described in this Section 3.1(c).

 

(d)           Deferral
Elections.  The elections under this Section 3.1
must be made before the Annual Compensation is payable and may only be made in
such manner and subject to such rules and limitations as the Plan
Administrator may prescribe and shall specify the percentage or dollar amount,
as applicable, of Annual Compensation that the Participant desires to defer
pursuant to Section 3.1(a) and/or 3.1(c) and to have contributed
to the Fund.  Once a Participant has made
an election for a Plan Year, the Participant may revoke or modify his election
to increase or reduce the rate of future deferrals, as provided in the
administrative procedures established by the Plan Administrator.”

 

8.             By
deleting the existing Section 3.4 and by substituting therefor the
following:

 

“3.4         Rollover
Contributions.  Any Eligible Employee
may, with the consent of the Plan Administrator and subject to such rules and
conditions as the Plan Administrator may prescribe (which may include without
limitation prohibitions against transferring certain categories of Rollover
Amounts to the Plan), transfer a Rollover Amount to the Fund; provided,
however, that the Plan Administrator shall not administer this provision in a
manner which is discriminatory in favor of Highly Compensated Employees.”

 

9.             By
deleting the existing header language of Section 7.1 and substituting
therefor the following:

 

“7.1         ‘Hardship Withdrawals.’  The Trustee shall, upon the direction of the
Plan Administrator, withdraw all or portion of a Participant’s Deferred Account
consisting of Deferral Amounts (but not earnings thereon), including Catch-Up
Contributions made pursuant to Section 3.1(c), prior to the time such
account is otherwise distributable in accordance with the other provisions of
the Plan; provided, however, that any such withdrawal shall be made only if the
Participant is an Employee and demonstrates that he is suffering from ‘hardship’
as determined herein.  For purposes of
this Section, a withdrawal will be deemed to be an account of hardship if the
withdrawal is on account of:”

 

10.           By deleting the
existing Section 7.2(a)(2) and by substituting therefor the
following:

 

“(2)         the Plan
Sponsor shall not permit Elective Deferrals, including catch-up contributions
as described in Code Section 414(v), or after-tax employee contributions
to be made to the Plan or any other plan

 

5

 

maintained
by the Plan Sponsor, for a period of six (6) months after the Participant
receives the withdrawal pursuant to this Section.”

 

11.           By
deleting the existing Section 7.2(a)(3) in its entirety.

 

12.           By
deleting the existing Section 8.2(b) and by substituting therefor the
following:

 

“(b)         his Matching
Account computed according to the following vesting schedule provided he
has completed at least one hour of Service during or after the 2002 Plan Year:

 

	
  Full Years of

  Vesting Service

  	
   

  	
  Percentage

  Vested

  	
   

  
	
  Less than 2

  	
   

  	
  10

  	
  %

  
	
  2

  	
   

  	
  20

  	
  %

  
	
  3

  	
   

  	
  40

  	
  %

  
	
  4

  	
   

  	
  60

  	
  %

  
	
  5

  	
   

  	
  80

  	
  %

  
	
  6 or more

  	
   

  	
  100

  	
  %”

  

 

13.           By deleting the existing Section 8.6
in its entirety.

 

14.           By
deleting the existing Section 11.1(a) in its entirety and by
substituting therefor the following:

 

“(a)         If the
vested Account balance of a Participant or a Beneficiary of a deceased
Participant (in the case of a deceased
Participant who did not begin to receive payment of his vested Account balance
before his death) is $5,000 or less, without consideration of amounts
attributable to a Participant’s Rollover Account, it shall be distributed in
one lump sum as soon as administratively practicable after the Participant or
Beneficiary is eligible for a distribution pursuant to Article 8, 9, or
10, as applicable.”

 

15.           By
deleting the existing header language of Section 11.1(b) and
substituting therefor the following:

 

“(b)         If the
vested Account balance of a Participant or a Beneficiary of a deceased
Participant (in the case of a deceased Participant who did not begin to receive
payment of his vested Account balance before his death) exceeds $5,000, without
consideration of amounts attributable to a Participant’s Rollover Account, and
the Participant or Beneficiary is eligible for a distribution pursuant to Article 8,
9, or 10, as applicable, the Participant or
Beneficiary will receive payment of the Account in one lump sum unless the
Participant elects to receive payment in one of the forms listed below as soon
as administratively practicable after the Participant’s or Beneficiary’s
written request to the Plan Administrator for payment of the vested Account
balance.”

 

6

 

16.           Effective
as of January 1, 2003, by deleting the existing Sections 11.5(d) and (e) and
substituting therefor the following:

 

“(d)         Distributions
will be made in accordance with Code Section 401(a)(9) and the
regulations issued thereunder, including the incidental benefit
requirements.  Notwithstanding the
foregoing, effective as of January 1, 2003, any distributions pursuant to
Code Section 401(a)(9) shall be administered in accordance with the
requirements of Appendix D hereto.”

 

16.           By
deleting the existing Article 20 to the Plan and substituting therefor the
following:

 

“ARTICLE 20

INCORPORATION OF SPECIAL LIMITATIONS

 

Appendices A, B, C and D to the Plan, attached hereto,
are incorporated by reference and the provisions of the same shall apply
notwithstanding anything to the contrary contained herein.”

 

17.           Effective
as of January 1, 2002, by deleting the existing Section 1 of Appendix
A and substituting therefor the following:

 

“Except to the extent permitted under Plan Section 3.1(c) and
Code Section 414(v), if applicable, the Annual Addition for any
Participant for any one limitation year may not exceed the lesser of:

 

(a)           $40,000,
as adjusted under Code Section 415(d); or

 

(b)           100% of
the Participant’s Annual Compensation.

 

The limit described in Subsection (b) shall
not apply to any contribution for medical benefits after separation from
service (within the meaning of Code Section 401(h) or 419A(f)(2))
which is otherwise treated as an annual addition.”

 

18.           By
deleting Section 2 of Appendix A to the Plan and substituting therefor the
following:

 

“For the purposes of this Appendix A, the term ‘Annual
Addition’ for any Participant means for any Limitation Year, the sum of certain
Plan Sponsor, Affiliate, and Participant contributions, forfeitures, and other
amounts as determined in Code Section 415(c)(2) in effect for that
Limitation Year.  Participant
contributions shall be determined without regard to Rollover Amounts, employee
contributions to a simplified employee pension which are excludable from gross
income under Code Section 408(k)(6), and catch-up contributions as
described in Code Section 414(v).”

 

7

 

19.           By adding the following paragraph to the
end of Section 6 of Appendix A to the Plan:

 

“Notwithstanding anything contained in the Plan to the
contrary, the Plan Administrator may modify the provisions of this Section 6
with respect to reduction of Participant’s accounts in accordance with such
procedures as the Plan Administrator may establish with respect to catch-up
contributions described in Code Section 414(v).”

 

20.           By
deleting Section 1(b) of Appendix B to the Plan and substituting
therefor the following:

 

“(b)         ‘Key
Employee’ means an Employee or former Employee (including a Beneficiary of
a Key Employee or former Key Employee) who at any time during the Plan Year
containing the Determination Date was:

 

(1)           an officer
of the Plan Sponsor or any Affiliate whose Annual Compensation was greater than
$130,000 (as adjusted for changes in the cost of living as provided in
regulations issued by the Secretary of the Treasury for Plan Years beginning
after December 31, 2002) for the calendar year in which the Plan Year
ends, where the term ‘officer’ means an administrative executive in regular and
continual service to the Plan Sponsor or an Affiliate; provided, however, that
in no event shall the number of officers exceed the lesser of Clause (A) or
(B) of this Subparagraph (1), where:

 

(A)          equals
fifty (50) employees; or

 

(B)           equals the
greater of (I) three (3) employees or (II) ten percent (10%) of the number
of Employees during the Plan Year, with any non-integer being increased to the
next integer.

 

If for any year, no officer of the Plan Sponsor meets
the requirements of this Subparagraph (1), the highest paid officer of the Plan
Sponsor for the Plan Year shall be considered an officer for purposes of this
Subparagraph (1);

 

(2)           an owner
of more than five percent (5%) of the outstanding stock of the Plan Sponsor or
an Affiliate or more than five percent (5%) of the total combined voting power
of all stock of the Plan Sponsor or an Affiliate; or

 

(3)           an owner
of more than one percent (1%) of the outstanding stock of the Plan Sponsor or
an Affiliate or more than one percent (1%) of the total combined voting power
of all stock of the Plan Sponsor or an Affiliate, and who in such Plan Year had
Annual Compensation from the Plan Sponsor and all of its Affiliates of more
than $150,000.

 

8

 

For purposes of determining ownership under
Subsections (2) and (3) above, the rules set forth in Code Section 318(a)(2) shall
be applied as follows (i) in the case of any Plan Sponsor or Affiliate
which is a corporation, by substituting five percent (5%) for fifty percent
(50%) and, (ii) in the case of any Plan Sponsor or Affiliate which is not
a corporation, ownership shall be determined in accordance with Treasury
Regulations which shall be based on principles similar to the principles of
Code Section 318 (modified as described in Clause (i) above).”

 

21.           By
deleting Subsection (d)(1)(A)(i) of Section 1 of Appendix B to
the Plan and substituting therefor the following:

 

“(i)          the present value of the cumulative
Accounts (excluding catch-up contributions as described in Code Section 414(v) made
in the Plan Year in which the determination is being made) under the Plan for
all Key Employees exceeds sixty percent (60%) of the present value of the
cumulative Accounts (excluding catch-up contributions as described in Code Section 414(v) for
the current Plan Year) under the Plan for all Participants; and”

 

22.           By deleting Subsection (d)(3)(C) of
Section 1 of Appendix B to the Plan and substituting therefor the
following:

 

“(C)         For purposes of determining the present
value of the cumulative accrued benefit under a plan for any Participant in
accordance with this Subsection, the present value shall be increased by the
aggregate distributions made with respect to the Participant (including
distributions paid on account of death to the extent they do not exceed the
present value of the cumulative accrued benefit existing immediately prior to
death) under each plan being considered, and under any terminated plan which if
it had not been terminated would have been in a Required Aggregation Group with
the Plan, during the one-year period ending on the Determination Date or the
last day of the Plan Year that falls within the calendar year in which the
Determination Date falls.  In the case of
a distribution made with respect to a Participant made for a reason other than
separation from service, death, or Disability, this provision shall applied by
substituting a five-year period for the one-year period.”

 

23.           By
deleting Subsection (d)(3)(F) of Section 1 of Appendix B to the
Plan and substituting therefor the following:

 

“(F)         For purposes of this Paragraph (3), if
any Employee has not performed any service for a Plan Sponsor or an Affiliate
maintaining the Plan during the one-year period ending on the Determination
Date, any accrued benefit for than Employee shall not be taken into account.”

 

9

 

24.           By
deleting Subsection (b)(1) of Section 2 of Appendix B to the
Plan and substituting therefor the following:

 

“(b)         (1)           The percentage referred to in Subsection (a) of
this Section for any Plan Year shall not exceed the percentage at which
allocations are made or are required to be made under the Plan for the Plan
Year for the Key Employee for whom the percentage is highest for a Plan
Year.  For purposes of this Paragraph, an
allocation to the Account of a Key Employee resulting from any Plan Sponsor
contribution attributable to a salary reduction or similar agreement shall be
taken into account but allocations of catch-up contributions as described in
Code Section 414(v) shall not be taken into account.”

 

25.           By deleting Subsection (d)(4) of
Section 3 of Appendix C to the Plan and substituting therefor “[Reserved].”

 

26.           By deleting the existing Section 4
of Appendix C to the Plan and substituting therefor the following.

 

“The Plan Administrator shall
have the responsibility of monitoring the Plan’s compliance with the
limitations of this Appendix C and shall have the power to take all steps it
deems necessary or appropriate to ensure compliance, including, without
limitation, restricting the amount which Highly Compensated Eligible
Participants can elect to have contributed pursuant to Plan Section 3.1(a).  Any actions taken by the Plan Administrator
pursuant to this Section 4 shall be pursuant to non-discriminatory
procedures consistently applied.”

 

27.           By deleting Subsection (d) of Section 5
of Appendix C and substituting therefor “[Reserved].”

 

28.           By deleting Subsection (e) of Section 5
of Appendix C and substituting therefor the following:

 

“The ‘Actual Contribution Percentage’ a group of
Eligible Participants for a Plan Year is equal to the average of the ratios,
calculated separately for each Participant, of (A) to (B), where (A) is
the amount of Matching Contributions under the Plan (excluding Qualified
Matching Contributions which are used to apply the test set forth in Section 2
of this Appendix C) and nondeductible employee contributions made under the Plan
for the Eligible Participant for the Plan Year, and where (B) is the
Annual Compensation of the Eligible Participant for the Plan Year. Except to
the extent limited by Treasury Regulation Section 1.401(m)-1(b)(5) and
any other applicable regulations promulgated by the Secretary of the Treasury,
a Plan Sponsor may elect to treat Salary Deferral Contributions and Qualified
Nonelective Contributions as Matching Contributions for the purpose of
determining the Actual Contribution Percentage, provided the Salary Deferral
Contributions, excluding those treated as Matching Contributions, satisfy the
test set forth in Section 2 of Appendix C.”

 

10

 

29.           Effective as of January 1, 2003, by
adding the following Appendix D:

 

“APPENDIX D

MINIMUM DISTRIBUTION REQUIREMENTS

 

SECTION 1

GENERAL RULES

 

(a)           Effective
Date and Precedence.  The provisions
of this Appendix D will apply for purposes of determining required minimum
distributions for calendar years beginning with the 2003 calendar year. The
requirements of this Appendix D will take precedence over any inconsistent
provisions of the Plan.

 

(b)           Requirements
of Treasury Regulations Incorporated. 
All distributions required under this Section will be determined
and made in accordance with the Treasury Regulations under Code Section 401(a)(9).

 

(c)           TEFRA Section 242(b)(2) Elections.  Notwithstanding the other provisions of this
Appendix D, distributions may be made under a designation made before January 1,
1984, in accordance with Section 242(b)(2) of the Tax Equity and
Fiscal Responsibility Act (TEFRA) and the provisions of the Plan that relate to
Section 242(b)(2) of TEFRA.

 

SECTION 2

TIME AND MANNER OF DISTRIBUTION

 

(a)           Required
Beginning Date.  The Participant’s
entire interest will be distributed, or begin to be distributed, to the
Participant no later than the Participant’s Required Beginning Date.

 

(b)           Death
of Participant Before Distributions Begin. 
If the Participant dies before distributions begin, the Participant’s
entire interest will be distributed, or begin to be distributed as follows:

 

(1)           If the
Participant’s surviving spouse is the Participant’s sole Designated
Beneficiary, then distributions to the surviving spouse will begin by the later
of:

 

(A)          December 31
of the calendar year immediately following the calendar year in which the
Participant died, or

 

(B)           by December 31
of the calendar year in which the Participant would have attained age 701⁄2.

 

(2)           If the
Participant’s surviving spouse is not the Participant’s sole Designated
Beneficiary, then, distributions to the Designated Beneficiary will

 

11

 

begin
by December 31 of the calendar year immediately following the calendar
year in which the Participant died.

 

(3)           If there
is no Designated Beneficiary, the Participant’s entire interest will be
distributed by December 31 of the calendar year containing the fifth
anniversary of the Participant’s death.

 

(4)           If the
Participant’s surviving spouse is the Participant’s sole Designated Beneficiary
and the surviving spouse dies after the Participant but before distributions to
the surviving spouse begin, this Section 2(b) (but without regard to Section 2(b)(1) above),
will apply as if the surviving spouse were the Participant.

 

For purposes of this Section 2(b) and Section 4
of this Appendix, unless Section 2(b)(4) of this Appendix applies,
distributions are considered to begin on the Participant’s Required Beginning
Date.  If Section 2(b)(4) of
this Appendix applies, distributions are considered to begin on the date
distributions are required to begin to the surviving spouse under Section 2(b)(1) of
this Appendix. If distributions under an annuity purchased from an insurance
company irrevocably commence to the Participant before the Participant’s
Required Beginning Date (or to the Participant’s surviving spouse before the
date distributions are required to begin to the surviving spouse under Section 2(b)(1)),
the date distributions are considered to begin is the date distributions
actually commence.

 

(c)           Forms
of Distribution.  Unless the
Participant’s interest is distributed in the form of an annuity purchased from
an insurance company or in a single sum on or before the Required Beginning
Date, as of the first Distribution Calendar Year, distributions will be made in
accordance with Sections 3 and 4 of this Appendix D.  If the Participant’s interest is distributed
in the form of an annuity purchased from an insurance company, distributions
thereunder will be made in accordance with the requirements of Code Section 401(a)(9) and
the regulations issued thereunder.

 

SECTION 3

REQUIRED MINIMUM DISTRIBUTIONS DURING PARTICIPANT’S
LIFETIME

 

(a)           Amount
of Required Minimum Distribution For Each Distribution Calendar Year.  During the Participant’s lifetime, the
minimum amount that will be distributed for each Distribution Calendar Year is
the lesser of:

 

(1)           the quotient obtained by dividing the
Participant’s Account Balance by the distribution period in the Uniform
Lifetime Table set forth in Section 1.401(a)(9)-9 of the Treasury
Regulations, using the Participant’s age as of the Participant’s birthday in
the Distribution Calendar Year; or

 

(2)           if the
Participant’s sole Designated Beneficiary throughout the entire Distribution
Calendar Year is the Participant’s spouse, the quotient obtained by dividing
the Participant’s Account Balance by the number in the Joint

 

12

 

and
Last Survivor Table set forth in Section 1.401(a)(9)-9 of the Treasury
Regulations, using the Participant’s and spouse’s attained ages as of the
Participant’s and spouse’s birthdays in the Distribution Calendar Year.

 

(b)           Lifetime
Required Minimum Distributions Continue Through Year of Participant’s Death.  Required minimum distributions will be
determined under this Section 3 beginning with the first Distribution
Calendar Year and up to and including the Distribution Calendar Year that
includes the Participant’s date of death.

 

SECTION 4

REQUIRED MINIMUM DISTRIBUTIONS AFTER PARTICIPANT’S
DEATH

 

(a)           Death
On or After Date Distributions Begin.

 

(1)           Participant Survived by Designated
Beneficiary.  If the Participant dies on or after the date
distributions begin and there is a Designated Beneficiary, the minimum amount
that will be distributed for each Distribution Calendar Year after the year of
the Participant’s death is the quotient obtained by dividing the Participant’s
Account Balance by the longer of the remaining Life Expectancy of the
Participant or the remaining Life Expectancy of the Participant’s Designated
Beneficiary, determined as follows:

 

(i)            The
Participant’s remaining Life Expectancy is calculated using the age of the
Participant in the year of death, reduced by one for each subsequent year.

 

(ii)           If the
Participant’s surviving spouse is the Participant’s sole Designated
Beneficiary, the remaining Life Expectancy of the surviving spouse is
calculated for each Distribution Calendar Year after the year of the
Participant’s death using the surviving spouse’s age as of the spouse’s
birthday in that year.  For Distribution
Calendar Years after the year of the surviving spouse’s death, the remaining
Life Expectancy of the surviving spouse is calculated using the age of the
surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s
death, reduced by one for each subsequent calendar year.

 

(iii)          If
the Participant’s surviving spouse is not the Participant’s sole Designated
Beneficiary, the Designated Beneficiary’s remaining Life Expectancy is calculated
using the age of the Designated Beneficiary in the year following the year of
the Participant’s death, reduced by one for each subsequent year.

 

(2)           No
Designated Beneficiary.  If the
Participant dies on or after the date distributions begin and there is no
Designated Beneficiary, the minimum amount that will be distributed for each
Distribution Calendar Year after the year of the Participant’s death is the quotient
obtained by dividing the Participant’s

 

13

 

Account
Balance by the Participant’s remaining Life Expectancy calculated using the age
of the Participant in the year of death, reduced by one for each subsequent
year.

 

(b)           Death
Before Date Distributions Begin.

 

(1)           Participant
Survived by Designated Beneficiary. 
If the Participant dies before the date distributions begin and there is
a Designated Beneficiary, the minimum amount that will be distributed for each
Distribution Calendar Year after the year of the Participant’s death is the
quotient obtained by dividing the Participant’s Account Balance by the
remaining Life Expectancy of the Participant’s Designated Beneficiary,
determined as provided in Section 4(a).

 

(2)           No
Designated Beneficiary.  If the
Participant dies before the date distributions begin and there is no Designated
Beneficiary, distribution of the Participant’s entire interest will be
completed by December 31 of the calendar year containing the fifth
anniversary of the Participant’s death.

 

(3)           Death
of Surviving Spouse Before Distributions to Surviving Spouse Are Required to
Begin.  If the Participant dies
before the date distributions begin, the Participant’s surviving spouse is the
Participant’s sole Designated Beneficiary, and the surviving spouse dies before
distributions are required to begin to the surviving spouse under Section 2(b)(1) of
this Appendix D, this Section (b) will apply as if the surviving
spouse were the Participant.

 

(4)           Alternative
for Distributions to Designated Beneficiaries.  In lieu of receiving distributions as
required under Subsection (1) and (3) above, the Designated
Beneficiary may elect to take distribution of the Participant’s entire interest
on or before the December 31 of the calendar year containing the fifth
anniversary of the Participant’s death.

 

SECTION 5

DEFINITIONS

 

As
used in this Appendix D, the following words and phrases shall have the meaning
set forth below:

 

(a)           Designated
Beneficiary.  The individual who is
designated as the Beneficiary under Section 1.5 of the Plan and is the
designated Beneficiary under Section 401(a)(9) of the Internal
Revenue Code and Section 1.401(a)(9)-1, Q&A-4, of the Treasury
Regulations.  For purposes of this
Appendix the Designated Beneficiary (or the fact that there is no Designated
Beneficiary) shall be determined on the September 30 of (except for Section 3(a)(2) above)
the year following the year in which the Participant died.

 

14

 

(b)           Distribution Calendar Year. 
A calendar year for which a minimum distribution is required.  For distributions beginning before the
Participant’s death, the first Distribution Calendar Year is the calendar year
immediately preceding the calendar year which contains the Participant’s
Required Beginning Date.  For
distributions beginning after the Participant’s death, the first Distribution
Calendar Year is the calendar year in which distributions are required to begin
under Section 2(b).  The required
minimum distribution for the Participant’s first Distribution Calendar Year
will be made on or before the Participant’s Required Beginning Date.  The required minimum distribution for other
Distribution Calendar Years, including the required minimum distribution for
the Distribution Calendar Year in which the Participant’s Required Beginning
Date occurs, will be made on or before December 31 of that Distribution
Calendar Year.

 

(c)           Life
Expectancy.  Life expectancy as
computed by use of the Single Life Table in Section 1.401(a)(9)-9 of the
Treasury Regulations.

 

(d)           Participant’s
Account Balance.  The Account balance
as of the last Valuation Date in the calendar year immediately preceding the
Distribution Calendar Year (“Valuation Calendar Year”) increased by the amount
of any contributions made and allocated or forfeitures allocated to the Account
balance as of dates in the Valuation Calendar Year after the Valuation Date and
decreased by distributions made in the Valuation Calendar Year after the
Valuation Date.  The Account balance for
the Valuation Calendar Year includes any amounts rolled over or transferred to
the Plan either in the Valuation Calendar Year or in the Distribution Calendar
Year if distributed or transferred in the Valuation Calendar Year.

 

(e)           Required
Beginning Date.  The date specified
in Section 11.4(c) of the Plan.”

 

Except
as specifically amended hereby, the Plan shall remain in full force and effect
prior to this Second Amendment.

 

IN WITNESS WHEREOF, the Primary Sponsor has caused
this Second Amendment to be executed on the day and year first above written.

 

	
   

  	
  ATLANTIC SOUTHEAST AIRLINES, INC.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ 

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  VP Human Resources

  	
   

  
					

 

15Exhibit 10.13(d)

 

THIRD
AMENDMENT TO THE

ATLANTIC SOUTHEAST AIRLINES,
INC.

INVESTMENT SAVINGS PLAN

 

THIS THIRD AMENDMENT is made
on this 1st day of April, 2004, by ATLANTIC SOUTHEAST AIRLINES, INC., a
corporation duly organized and existing under the laws of the State of Georgia
(the “Primary Sponsor”).

 

W I  T  N  E
S  S  E  T  H:

 

WHEREAS, the Primary Sponsor maintains the Atlantic
Southeast Airlines, Inc. Investment Savings Plan (the “Plan”) which was
last amended effective January 1, 2002; and

 

WHEREAS, the Primary Sponsor now wishes to amend the
Plan to provide limits on the amount of Catch-Up Contributions which may be
made by a Participant each pay period;

 

WHEREAS, this amendment shall supersede the
provisions of the Plan to the extent those provisions are inconsistent with the
provisions of this amendment.

 

NOW, THEREFORE, the Primary Sponsor does hereby
amend the Plan effective as of January 1, 2004:

 

1.             Section 3.1(c) of the Plan is
hereby amended by adding the following to the end thereof:

 

“Such Catch-Up Contributions
shall be made each pay period from the Participant’s Annual Compensation for
that pay period in multiples of 1% but shall not exceed 75% of the Participant’s
Annual Compensation for such pay period; provided, however, that in no event
shall a Participant’s Catch-Up Contributions for that pay period equal more
than 100% of the Participant’s Annual Compensation for that pay period less all
his payroll withholdings and deductions, including his Elective Deferrals under
this Plan, for that pay period.”

 

Except as specifically amended hereby, the Plan
shall remain in full force and effect prior to this Third Amendment.

 

 

IN
WITNESS WHEREOF, the Primary Sponsor has caused this Third Amendment to be
executed on the day and year first above written.

 

	
   

  	
  ATLANTIC SOUTHEAST AIRLINES, INC.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  Sr. V.P.—Human
  Resources

  	
   

  
					

 

2

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