Document:

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.

 

 

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

  	
   

  
				

 

2Exhibit
10.24

 

November 14, 2002

 

Mr. Edward A. Brennan

400 North Michigan Avenue

Suite 400

Chicago, IL 60611

 

Dear Ed:

 

You’ve elected to defer your retainer and meeting fees
for calendar year 2003.

 

In June 1998, you and the Company entered into an
agreement governing the fees you had deferred through that date.  That agreement is attached.

 

I’m assuming you want to continue to defer your fees
in accordance with the June 1998 letter. 
If so, please sign below and return to me.  If you want another agreement, please let me know the details and
we’ll see what we can do.

 

Thank you for your cooperation and if there are
questions, please let me know.

 

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Charles D. MarLett

  
	
   

  	
  Corporate Secretary

  

 

Deferral
of 2003 fees to be in accordance with June 2, 1998 letter:

 

 

	
  AGREED:

  	
  /s/ Edward A.
  Brennan

  	
   

  
	
   

  	
  Edward
  A. Brennan

  

 

P.S.                            I’m
enclosing two originals - one to be returned to me and the other for your
files.

 

AttachmentExhibit
10.25

 

DEFERRAL AGREEMENT
WORKSHEET

 

I, Joe M. Rodgers, a Director of AMR Corporation and
American Airlines, Inc., do hereby elect to defer the receipt of meeting and
retainer fees for the year 2003 pursuant to one of the following plans (please
check one if you wish to defer 2003 meeting and retainer fees):

 

ý                                    Deferred
fees accrue interest at the prime rate in effect, from time to time, at Chase
Manhattan Bank, New York, New York.

 

or

 

o                                    The
Stock Equivalent Purchase Plan.

 

1.                                       For
how long do you want meeting and retainer fees to be deferred? Until retirement
year(s).

 

2.                                       At
the conclusion of the deferral period, how do you want the deferred funds paid
out (for example, 100% lump sum, 25% per year,
$          per month until
all funds distributed, etc.)?

 

100% lump sum

 

3.                                       In
the event of your death prior to the deferred funds being completely
distributed, who do you wish to designate as your beneficiary?

 

Helen M. Rodgers

 

	
   

  	
  /s/ Joe M. Rodgers

  	
   

  
	
   

  	
  Signature - Joe M. Rodgers

  
	
   

  	
   

  
	
  11/22/02

  	
   

  	
   

  
	
  DateExhibit
10.26

 

 

November 14, 2002

 

Judith Rodin, PhD.

President

University of
Pennsylvania

100 College Hall

Philadelphia, PA   19104

 

Dear Judith:

 

This will confirm
the following agreement relating to the deferral of your directors’ fees and
retainers in 2003:

 

1.                                       All
directors’ 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.                                       Upon
your retirement from the Board of Directors of AMR the Stock Equivalent Units
accrued pursuant to the Plan will be converted to cash and paid to you by
multiplying the number of Stock Equivalent Units as of the date of your
retirement by the arithmetic mean of the high and low of AMR stock (“fair
market value”) during the calendar month immediately preceding such retirement
date.  Such payment will occur within 30
days of your retirement date.

 

4.                                       AMR’s
obligation to make payments pursuant to paragraph 3 hereof will not be released
or modified by reason of your death.  In
such event, 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 the Trustees under
your Revocable Agreement of Trust, dated September 15, 1997, as amended
November 3, 1997, Judith Rodin Settlor and Trustee.

 

 

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/ Judith Rodin

  	
   

  	
   

  
	
  Judith Rodin

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  11/20/02

  	
   

  	
   

  
	
  Date

  	
   

  
				

 

2Exhibit
10.27

 

November 14, 2002

 

 

Mr. John W. Bachmann

Managing Director

Edward Jones

12555 Manchester Road

St. Louis, MO 63131-3279

 

Dear Mr. Bachmann:

 

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 (“fair market value”)
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 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
Katharine Bachmann.

 

 

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/ John W. Bachmann

  	
   

  	
   

  
	
  John W. Bachmann

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  11/16/02

  	
   

  	
   

  
	
  Date

  	
   

  
	
   

  	
   

  
				

 

2Exhibit
10.28

 

 

December 3, 2002

 

 

Mr. Armando M. Codina

Chairman

Codina Group, Inc.

355 Alhambra Circle, Suite 900

Coral Gables, FL 33134

 

Dear Armando:

 

This will confirm the following agreement relating to
the deferral of, and payment of, your directors’ fees in 2003:

 

1.                                       All
directors’ 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.                                       On
or before January 31, 2013, all the Stock Equivalent Units will be converted to
cash and paid to you by multiplying the number of Stock Equivalent Units as of
December 31, 2012, by the arithmetic mean of the high and low of AMR stock
(“fair market value”) during December 2012.

 

4.                                       AMR’s
obligation to make payments pursuant to paragraph 3 hereof will not be released
or modified by reason of your death.  In
such event, 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 Margarita Codina.

 

 

5.                                       Paragraph 3
of the deferral letter dated January 22, 2001, is amended by deleting the
reference to “2010” and inserting “2011” and by deleting the references to
“2009” and inserting “2010”.

 

6. 
                                 Paragraph 3
of the deferral letter dated December 18, 2001, is amended by deleting the
reference to “2010” and inserting “2012” and by deleting references to “2009”
and inserting “2011”.

 

7.                                       Paragraph
3 of the deferral letter dated January 30, 1995, is amended deleting the
reference to “2003” and inserting “2006”.

 

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/ Armando M. Codina

  	
   

  	
   

  
	
  Armando M. Codina

  	
   

  
	
   

  	
   

  
	
  12/13/02

  	
   

  	
   

  
	
  Date

  	
   

  
				

 

2

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