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Exhibit 10.23    
  

 
 

NORTHWEST AIRLINES
  EXCESS PENSION PLAN FOR SALARIED EMPLOYEES
  (2001 Restatement)    
  

 
NORTHWEST AIRLINES  

 EXCESS PENSION PLAN FOR SALARIED EMPLOYEES  

 (2001 Restatement)  

 
 

TABLE OF CONTENTS    
  

	 
	 	 
	 	 
	 	 
	 	Page

	SECTION 1.	 	INTRODUCTION	 	1
	

 	
 	

1.1.	
 	

Amendment and Restatement	
 	

 
	 	 	1.2.	 	Unfunded Obligation	 	 
	

SECTION 2.	
 	

PLAN NAME	
 	

1
	

SECTION 3.	
 	

PARTICIPANTS	
 	

1
	

 	
 	

3.1.	
 	

Scope	
 	

 
	 	 	3.2.	 	General Participation Rule	 	 
	 	 	3.2.	 	Overriding Exclusion	 	 
	

SECTION 4.	
 	

BENEFITS PAYABLE	
 	

2
	

 	
 	

4.1.	
 	

Benefit for Participants	
 	

 
	 	 	 	 	4.1.1.	 	Entitlement and Amount	 	 
	 	 	 	 	4.1.2.	 	Form of Payment	 	 
	 	 	4.2.	 	Benefit for Excess Plan Beneficiaries	 	 
	 	 	 	 	4.2.1.	 	Entitlement and Amount	 	 
	 	 	 	 	4.2.2.	 	Form of Payment	 	 
	

SECTION 5.	
 	

FUNDING	
 	

4
	

 	
 	

5.2.	
 	

Hedging Investments	
 	

 
	 	 	5.2.	 	Corporate Obligation	 	 
	

SECTION 6.	
 	

GENERAL MATTERS	
 	

5
	

 	
 	

6.1.	
 	

Amendments and Termination	
 	

 
	 	 	6.2.	 	ERISA Administrator	 	 
	 	 	6.3.	 	Service of Process	 	 
	 	 	6.4.	 	Limited Benefits	 	 
	 	 	6.5.	 	Spendthrift Provision	 	 
	 	 	6.6.	 	Certifications	 	 
	 	 	6.7.	 	Errors in Computations	 	 
	 	 	6.8.	 	Administrative Determinations	 	 
	 	 	6.8.	 	Rules and Regulations	 	 
	 	 	6.10.	 	Payments to Minors and Incompetent Persons	 	 
	

SECTION 7.	
 	

DESIGNATION OF BENEFICIARIES	
 	

6
	

 	
 	

7.1.	
 	

Right To Designate	
 	

 
	 	 	7.2.	 	Failure of Designation	 	 
	 	 	7.3.	 	Disclaimers by Excess Plan Beneficiaries	 	 
	 	 	7.4.	 	Definitions	 	 
	 	 	7.5.	 	Special Rules	 	 

i

 

	SECTION 8.	 	CLAIMS PROCEDURE	 	8
	

 	
 	

8.1.	
 	

Original Claim	
 	

 
	 	 	8.2.	 	Claims Review Procedure	 	 
	 	 	8.3.	 	General Rules	 	 
	 	 	8.4.	 	Limitations Periods	 	 
	 	 	8.5.	 	Exhaustion of Administrative Remedies	 	 
	

SECTION 9.	
 	

CONSTRUCTION	
 	

10
	

 	
 	

9.1.	
 	

Defined Terms	
 	

 
	 	 	9.2.	 	ERISA Status	 	 
	 	 	9.3.	 	IRC Status	 	 
	 	 	9.4.	 	Effect on Other Plans	 	 
	 	 	9.5.	 	Disqualification	 	 
	 	 	9.6.	 	Rules of Document Construction	 	 
	 	 	9.7.	 	References to Laws	 	 
	 	 	9.8.	 	Effect on Employment	 	 
	 	 	9.9.	 	Choice of Law	 	 

ii

NORTHWEST AIRLINES

EXCESS PENSION PLAN FOR SALARIED EMPLOYEES

(2001 Restatement)  

SECTION 1  

 INTRODUCTION  

        1.1    Amendment and Restatement.    On July 3, 1985 but effective as of January 1, 1985, Northwest
Airlines, Inc., a Minnesota corporation, (hereinafter the "Principal Sponsor") heretofore established the "Northwest Airlines, Inc. Excess Benefit Plan" and reserved to itself the right
to amend that Plan from time to time. Effective as of January 1, 1989, the Principal Sponsor amended and restated that earlier document by the adoption of the "Northwest Airlines, Inc.
Officers Excess Benefit Plan" and effective as of January 1, 1994, the Principal Sponsor again amended and restated that document by the adoption of the "Northwest Airlines Excess Pension Plan
for Salaried Employees (1994 Restatement)." By adoption of this amended and restated document entitled "Northwest Airlines Excess Pension Plan for Salaried Employees (2001 Restatement)," the Principal
Sponsor hereby amends and restates the Excess Plan in its entirety as applied to all persons who are Participants as of January 1, 2001 (without regard to whether they are then actively
employed on that date) and all persons who become Participants after that date. 

        1.2    Unfunded Obligation.    The obligation of the Principal Sponsor to make payments under this Excess Plan
constitutes only the unsecured (but legally enforceable) promise of the Principal Sponsor to make such payments. The Participant shall have no lien, prior claim or other security interest in any
property of the Principal Sponsor. If a fund is established by the Principal Sponsor in connection with this Excess Plan, the property therein shall remain the sole and exclusive property of the
Principal Sponsor. The Principal Sponsor will pay the cost of this Excess Plan out of its general assets. 

SECTION 2  

 PLAN NAME  

        This employee pension benefit plan shall be referred to as the "Northwest Airlines Excess Pension Plan for Salaried Employees" (the "Excess Plan"). This document,
as distinguished from the plan maintained pursuant to this document, shall be referred to as the "Northwest Airlines Excess Pension Plan for Salaried Employees (2001 Restatement)." 

SECTION 3  

 PARTICIPANTS  

        3.1    Scope.    Unless the context clearly requires otherwise, the provisions of this amended and restated document
shall not affect the entitlement to or amount of benefit payable to or with respect to any Participant, employee or other individual who shall have retired or terminated employment from the Principal
Sponsor prior to January 1, 2001, unless that Participant returns to active Recognized Employment after January 1, 2001. 

        3.2    General Participation Rule.    The individuals eligible to participate in and receive benefits under this
Excess Plan are those employees of Principal Sponsor and other affiliated companies who are, on or after January 1, 1985, participants in the Qualified Pension Plan and who are, at some time on
or after January 1, 1985, actively employed by the Principal Sponsor or such other affiliated companies. Any employee who has become a Participant in the Excess Plan shall continue as a
Participant until all benefits which are due under this Excess Plan have been received without regard to whether he or she continues as a participant in the Qualified Pension Plan or an active
employee. Notwithstanding anything apparently to the contrary contained in this Excess Plan, the Excess Plan shall be construed and administered to prevent the duplication of benefits provided under
this Excess 

 

Plan and any other qualified or nonqualified plan maintained in whole or in part by the Principal Sponsor. 

        3.3    Overriding Exclusion.    Notwithstanding anything apparently to the contrary in this Excess Plan or in any
written communication, summary, resolution or document or oral communication, no individual shall be a Participant in this Excess Plan, develop benefits under this Excess Plan or be entitled to
receive benefits under this Excess Plan (either for himself or his or her survivors) unless such individual is a member of a select group of management or highly compensated employees (as that
expression is used in ERISA). If a court of competent jurisdiction, any representative of the U.S. Department of Labor or any other governmental, regulatory or similar body makes any direct or
indirect, formal or informal, determination that an individual is not a member of a select group of management or highly compensated employees (as that expression is used in ERISA), such individual
shall not be (and shall not have ever been) a Participant in this Excess Plan at any time. If any person not so defined has been erroneously treated as a Participant in this Excess Plan, upon
discovery of such error such person's erroneous participation shall immediately terminate ab initio and upon demand such person shall be obligated to
reimburse the Principal Sponsor for all amounts erroneously paid to him or her. 

SECTION 4  

 BENEFITS PAYABLE  

        4.1    Benefit for Participants.    

        4.1.1    Entitlement and Amount.    Upon the Termination of Employment of a Participant who
has any Vested and nonforfeitable entitlement to an Accrued Benefit under the Qualified Pension Plan, this Excess Plan shall pay to a Participant the excess, if any, of the greater of the amount
determined pursuant to (a) or (b) below subject to the special rules in (c) below. Participants who were not employed in Recognized Employment prior to January 1, 2001 do
not have any benefit under the Excess Plan FAE formula calculation in (a) below and, therefore, shall have their benefits calculated exclusively pursuant to (b) below. Participants who
were not employed in Recognized Employment after December 31, 2000 do not have any benefit under the Excess Plan cash balance formula calculation in (b) below and, therefore, shall have
their benefits calculated exclusively pursuant to (a) below. 

	

(a) Excess Plan FAE Formula Calculation.

(1) As If FAE Benefit. Compute the benefit, if any, that would have been payable to the Participant as the FAE Formula Benefit specified in the Qualified Pension Plan (e.g., Single Life Benefit
commencing at Normal Retirement Date) if the following special rules had been applied:

(i) Disregard the benefit limitations under section 415 of the Code, and

(ii) Disregard the compensation limitation of section 401(a)(17) of the Code, and

(iii) Include in Earnings and Final Average Earnings amounts not otherwise included because they were deferred at the election of the Participant under a nonqualified deferred compensation plan at the time or times when they would have been included
but for such election to defer, and

(iv) Recognize as Benefit Service or Vesting Service or both periods that are required to be recognized for purposes of this Excess Plan pursuant to a separate written agreement between the Principal Sponsor and the Participant (excluding, however,
any Benefit Service awarded under the terms of the Northwest Airlines, Inc. Supplemental Executive Retirement Plan or any ancillary agreement issued solely in connection with the SERP), and

(v) Include in Earnings and in Final Average Earnings amounts that are required to be included for purposes of this Excess Plan pursuant to a separate written agreement between the Principal Sponsor and the Participant (excluding, however, any
Earnings or Final Average Earnings awarded under the terms of the Northwest Airlines, Inc. Supplemental Executive Retirement Plan or any ancillary agreement issued solely in connection with that SERP).	
 	

(b) Excess Plan CB Formula Calculation.

(1) As If CB Benefit. Compute the Cash Balance Account, if any, that would have been accumulated for the Participant under the Qualified Pension Plan if the following special rules had been applied:

(i) Disregard the benefit limitations under section 415 of the Code, and

(ii) Disregard the compensation limitation of section 401(a)(17) of the Code, and

(iii) Include in Earnings and Final Average Earnings amounts not otherwise included because they were deferred at the election of the Participant under a nonqualified deferred compensation plan at the time or times when they would have been included
but for such election to defer, and

(iv) Recognize, for the purpose of determining the Participant's applicable pay credit percentage, initial account balance and bonus factor in connection with the CB Formula Benefit, Benefit Service or Vesting Service or both that are required to be
recognized for such purposes under this Excess Plan pursuant to a separate written agreement between the Principal Sponsor and the Participant (excluding, however, any Benefit Service awarded under the terms of the Northwest Airlines Supplemental
Executive Retirement Plan or any ancillary agreement issued solely in connection with the SERP), and

(v) Include in Earnings and in Final Average Earnings amounts that are required to be included for purposes of this Excess Plan pursuant to a separate written agreement between the Principal Sponsor and the Participant (excluding, however, any
Earnings and Final Average Earnings awarded under the terms of the Northwest Airlines, Inc. Supplemental Executive Retirement Plan or any ancillary agreement issued solely in connection with that SERP).
	
 	
 	

 

2

 

	

(2) Present Value of As If FAE Benefit. Convert the benefit determined in (1) above to a single lump sum by applying the rules of the Qualified Pension Plan for converting a FAE Formula Benefit to a
single lump sum. This single lump sum shall be reduced as provided below.	
 	

(2) Account Value of As If CB Benefit. The amount determined in (1) above shall be reduced as provided below.
	

(3) FAE Formula Benefit Offset. Compute the single lump sum present value of the amounts actually payable to the Participant from the Qualified Pension Plan under the rules of the Qualified Pension Plan
for converting a FAE Formula Benefit into a single lump sum.	
 	

(3) FAE Formula Benefit Offset. Compute the single lump sum present value of the amounts actually payable to the Participant from the Qualified Pension Plan under the rules of the Qualified Pension Plan
for converting a FAE Formula Benefit into a single lump sum.
	

(4) CB Formula Benefit Offset. Determine the total of the Participant's Cash Balance Accounts in the Qualified Pension Plan.	
 	

(4) CB Formula Benefit Offset. Determine the total of the Participant's Cash Balance Accounts in the Qualified Pension Plan.
	

(5) Subtraction. Subtract the greater of the amount determined in (3) or (4) above from the amount determined in (2) above and the resulting amount shall be the benefit payable to the Participant under
this Excess Plan (unless the amount determined in Section 4.1.1(b)(5) is greater).	
 	

(5) Subtraction. Subtract the greater of the amount determined in (3) or (4) above from the amount determined in (2) above and the resulting amount shall be the benefit payable to the Participant under
this Excess Plan (unless the amount determined in Section 4.1.1(a)(5) is greater).

3

 

	(c)
	Transitional Rules. With regard to a Participant who was a Participant before January 1, 2001, the year 2000 bonus (paid in
2001) under the Key Employee Cash Incentive Program was taken into account in determining the initial account balance under the CB Formula. Pay credits will not be granted with regard to year 2000
bonus (paid in 2001) under the Key Employee Cash Incentive Program.

	(d)
	Special Agreement. Notwithstanding the general requirement that a Participant who has a Vested and nonforfeitable entitlement to an
Accrued Benefit under the Qualified Pension Plan as condition of receiving any benefit under this Excess Plan, the Principal Sponsor may by written agreement with the Participant waive or modify that
requirement. 

        4.1.2.    Form of Payment.    This benefit (minus the withholding, payroll and other taxes
which must be deducted therefrom) shall be paid, as soon as administratively feasible after Termination of Employment, to the Participant in a single lump sum payment. 

        4.2    Benefit for Excess Plan Beneficiaries.    

        4.2.1    Entitlement and Amount.    Upon the death of a Participant prior to the time the
Participant's benefit has been paid to the Participant, the benefit shall be payable to the Excess Plan beneficiary. 

        4.2.2.    Form of Payment.    This benefit (minus the withholding, payroll and other taxes
which must be deducted therefrom) shall be paid, as soon as administratively feasible after the Participant's death, to the Excess Plan beneficiary in a single lump sum payment. 

SECTION 5  

 FUNDING  

        5.1.    Hedging Investments.    If the Principal Sponsor elects to finance all or a portion of its costs in connection
with this Excess Plan through the purchase of life insurance or other investments, the Participant agrees, as a condition of participation in this Excess Plan, to cooperate with the Principal Sponsor
in the purchase of such investment to any extent reasonably required by the Principal Sponsor and relinquishes any claim he or she may have either for himself or herself or any beneficiary to the
proceeds of any such investment or any other rights or interests in such investment. If a Participant fails or refuses to cooperate, then notwithstanding any other provision of this Excess Plan
(including, without limiting the generality of the foregoing, Section 4) the Principal Sponsor shall immediately and irrevocably terminate and forfeit the Participant's entitlement to benefits
under the Excess Plan. 

        5.2.    Corporate Obligation.    Neither the Principal Sponsor's officers nor any member of its Board of Directors in
any way secures or guarantees the payment of any benefit or amount which may become due and payable hereunder to or with respect to any Participant. Each Participant and other person entitled at any
time to payments hereunder shall look solely to the assets of the Principal Sponsor for such payments as an unsecured, general creditor. After benefits shall have been paid to or with respect to a
Participant and such payment purports to cover in full the benefit hereunder, such former Participant or other person or persons, as the case may be, shall have no further right or interest in the
other assets of the Principal Sponsor in connection with this Excess Plan. Neither the Principal Sponsor nor any of its officers nor any member of its Boards of Directors shall be under any liability
or responsibility for failure to effect any of the objectives or purposes of the Excess Plan by reason of the insolvency of the Principal Sponsor. 

4

 

SECTION 6  

 GENERAL MATTERS  

        6.1.    Amendments and Termination.    The Principal Sponsor may unilaterally amend this Excess Plan prospectively,
retroactively or both, at any time and for any reason deemed sufficient by it without notice to any person affected by this Excess Plan and may likewise terminate or curtail the benefits of this
Excess Plan both with regard to persons expecting to receive benefits in the future and persons already receiving benefits at the time of such action. No modification of the terms of this Excess Plan
shall be effective unless it is in writing and signed on behalf of the Principal Sponsor by a person authorized to execute such writing. No oral representation concerning the interpretation or effect
of this Excess Plan shall be effective to amend the Excess Plan. 

        6.2.    ERISA Administrator.    The Principal Sponsor shall be the plan administrator of this Excess Plan. 

        6.3.    Service of Process.    In the absence of any designation to the contrary by the Principal Sponsor, the
Secretary of the Principal Sponsor is designated as the appropriate and exclusive agent for the receipt of service of process directed to the Plan in any legal proceeding, including arbitration,
involving the Plan. 

        6.4.    Limited Benefits.    This Excess Plan shall not provide any benefits determined with respect to any defined
contribution plan. 

        6.5.    Spendthrift Provision.    No Participant, surviving spouse, joint or contingent annuitant or beneficiary shall
have the power to transmit, assign, alienate, dispose of, pledge or encumber any benefit payable under this Excess Plan before its actual payment to such person. The Principal Sponsor shall not
recognize any such effort to convey any interest under this Excess Plan. No benefit payable under this Excess Plan shall be subject to attachment, garnishment, execution following judgment or other
legal process before actual payment to such person. 

        6.6.    Certifications.    Information to be supplied or written notices to be made or consents to be given by the
Principal Sponsor pursuant to any provision of this Excess Plan may be signed in the name of the Principal Sponsor by any officer who has been authorized to make such certification or to give such
notices or consents. 

        6.7.    Errors in Computations.    The Principal Sponsor shall not be liable or responsible for any error in the
computation of any benefit payable to or with respect to any Participant resulting from any misstatement of fact made by the Participant or by or on behalf of any survivor to whom such benefit shall
be payable, directly or indirectly, to the Principal Sponsor, and used by the Principal Sponsor in determining the benefit. The Principal Sponsor shall not be obligated or required to increase the
benefit payable to or with respect to such Participant which, on discovery of the misstatement, is found to be understated as a result of such misstatement of the Participant. However, the benefit of
any Participant which is overstated by reason of any such misstatement or any other reason shall be reduced to the amount appropriate in view of the truth (and to recover any prior overpayment). 

        6.8.    Administrative Determinations.    The Principal Sponsor shall make such determinations as may be required from
time to time in the administration of the Excess Plan. The Principal Sponsor shall have the sole discretion, authority and responsibility to interpret and construe the Excess Plan and to determine all
factual and legal questions under the Excess Plan, including but not limited to the entitlement of employees, Participants, Beneficiaries and Alternate Payees to benefits and the amounts of their
benefits. The Principal Sponsor have discretionary authority to grant or deny benefits under this Excess Plan. Benefits under this Excess Plan will be paid only if the Principal Sponsor decides in its
discretion that the applicant is entitled to them. Each interested party may act and rely upon all 

5

 

information reported to them hereunder and need not inquire into the accuracy thereof, nor be charged with any notice to the contrary. 

        6.9.    Rules and Regulations.    Any rule not in conflict or at variance with the provisions hereof may be adopted by
the Principal Sponsor. 

        6.10.    Payments to Minors and Incompetent Persons.    If any person entitled to receive any payment under this Plan
is incompetent, a minor or under any other legal disability that prevents payment to that person, payment shall be made if the Principal Sponsor has been advised of the existence of such condition: 

	(a)
	to
the duly appointed guardian, conservator or other legal representative of such incompetent or disabled person (excluding an attorney in fact acting
under power of attorney); or

	(b)
	to
a person or institution entrusted with the care or maintenance of such incompetent or disabled person, provided such person or institution has
satisfied the Principal Sponsor that the payment will be used for the best interest and assist in the care of such incompetent or disabled person, and provided further, that no prior claim for said
payment has been made by a duly appointed guardian, conservator or other legal representative of such incompetent or disabled person (excluding an attorney in fact acting under power of attorney). 

Any
payment made in accordance with this Section shall constitute a complete discharge of any liability or obligation of the Principal Sponsor, the Trustee, all fiduciaries, this Plan and the fund to
make such payment. 

SECTION 7  

 DESIGNATION OF BENEFICIARIES  

        7.1.    Right To Designate.    Each Participant may designate, upon forms to be furnished by and filed with the
Principal Sponsor, one or more primary Excess Plan beneficiaries or alternative Excess Plan
beneficiaries to receive all or a specified part of the Participant's benefit in the event of the Participant's death. The Participant may change or revoke any such designation from time to time
without notice to or consent from any Excess Plan beneficiary or spouse. No such designation, change or revocation shall be effective unless executed by the Participant and received by the Principal
Sponsor in its retirement administration department prior to the Participant's death. The Principal Sponsor may establish rules for the use of electronic signatures in executing Excess Plan
beneficiary designations. Until such rules are established, electronic signatures shall not be effective. Notwithstanding the following, if a Participant shall have affirmatively designated a
beneficiary under the Qualified Pension Plan but shall never have designated any beneficiary under this Excess Plan, then the designation filed under the Qualified Pension Plan shall be deemed to also
be a designation under this Excess Plan. The designation of a Beneficiary under the Excess Plan shall never be effective to designate a Qualified Pension Plan beneficiary. 

        7.2.    Failure of Designation.    If a Participant: 

	(a)
	fails
to designate a Excess Plan beneficiary,

	(b)
	designates
a Excess Plan beneficiary and thereafter such designation is revoked without another Excess Plan beneficiary being named, or

	(c)
	designates
one or more Excess Plan beneficiaries and all such Excess Plan beneficiaries so designated fail to survive the Participant, 

such
Participant's benefit, or the part thereof as to which such Participant's designation fails, as the case may be, shall be payable to the first class of the following classes of automatic Excess
Plan 

6

 

beneficiaries with a member surviving the Participant and (except in the case of the Participant's surviving issue) in equal shares if there is more than one member in such class surviving the
Participant: 

Participant's
surviving spouse

Participant's surviving issue per stirpes and not per capita

Participant's surviving parents

Participant's surviving brothers and sisters

Representative of Participant's estate. 

        7.3.    Disclaimers by Excess Plan Beneficiaries.    A Excess Plan beneficiary entitled to a distribution of all or a
portion of a deceased Participant's benefit may disclaim his or her interest therein subject to the following requirements. To be eligible to disclaim, a Excess Plan beneficiary must be a natural
person, must not have received a distribution of all or any portion of a benefit at the time such disclaimer is executed and delivered, and must have attained at least age twenty-one
(21) years as of the date of the Participant's death. Any disclaimer must be in writing and must be executed personally by the Excess Plan beneficiary before a notary public. The Principal
Sponsor may establish rules for the use of electronic signatures and acknowledgements. Until such rules are established, electronic signatures and acknowledgements shall not be effective. A disclaimer
shall state that the Excess Plan beneficiary's entire interest in the undistributed benefit is disclaimed (partial disclaimers not being permitted under this Plan). To be effective, an original
executed copy of the disclaimer must be executed and actually delivered to the Principal Sponsor after the date of the Participant's death but not later than nine (9) months after the date of
the Participant's death. A disclaimer shall be irrevocable when delivered to the Principal Sponsor. A disclaimer shall be considered to be delivered to the Principal Sponsor only when actually
received by the Principal Sponsor. The Principal Sponsor shall be the sole judge of the content, interpretation and validity of a purported disclaimer. Upon the filing of a valid disclaimer, the
Excess Plan beneficiary shall be considered not to have survived the Participant as to the interest disclaimed. A disclaimer by a Excess Plan beneficiary shall not be considered to be a transfer of an
interest in violation of the provisions of Section 6.5. No other form of attempted disclaimer shall be recognized by the Principal Sponsor. 

        7.4.    Definitions.    When used herein and, unless the Participant has otherwise specified in the Participant's
Excess Plan beneficiary designation, when used in a Excess Plan beneficiary designation: 

	(a)
	"issue"
means all persons who are lineal descendants of the person whose issue are referred to, subject to the following: (i) a legally adopted
child and the adopted child's lineal descendants always shall be lineal descendants of each adoptive parent (and of each adoptive parent's lineal ancestors); (ii) a legally adopted child and
the adopted child's lineal descendants never shall be lineal descendants of any former parent whose parental rights were terminated by the adoption (or of that former parent's lineal ancestors);
except that if, after a child's parent has died, the child is legally adopted by a stepparent who is the spouse of the child's surviving parent, the child and the child's lineal descendants shall
remain lineal descendants of the deceased parent (and the deceased parent's lineal ancestors); and (iii) if the person (or a lineal descendant of the person) whose issue are referred to is the
parent of a child (or is treated as such under applicable law) but never received the child into that parent's home and never openly held out the child as that parent's child (unless doing so was
precluded solely by death), then neither the child nor the child's lineal descendants shall be issue of the person.

	(b)
	"child"
means an issue of the first generation;

	(c)
	"per
stirpes" means in equal shares among living children of the person whose issue are referred to and the issue (taken collectively) of each deceased
child of such person, with such issue taking by right of representation of such deceased child; and 

7

 

	(d)
	"survive"
and "surviving" mean living after the death of the Participant. 

        7.5.    Special Rules.    Unless the Participant has otherwise specified in the Participant's Excess Plan beneficiary
designation, the following rules shall apply: 

	(a)
	If
there is not sufficient evidence that a Excess Plan beneficiary was living at the time of the death of the Participant, it shall be deemed that the
Excess Plan beneficiary was not living at the time of the death of the Participant.

	(b)
	The
automatic Excess Plan beneficiaries specified in Section 6.9.3 and the Excess Plan beneficiaries designated by the Participant shall become
fixed at the time of the Participant's death so that, if a Excess Plan beneficiary survives the Participant but dies before the receipt of all payments due such Excess Plan beneficiary hereunder, such
remaining payments shall be payable to the representative of such Excess Plan beneficiary's estate.

	(c)
	If
the Participant designates as a Excess Plan beneficiary the person who is the Participant's spouse on the date of the designation, either by name or
by relationship, or both, the dissolution, annulment or other legal termination of the marriage between the Participant and such person shall automatically revoke such designation. (The foregoing
shall not prevent the Participant from designating a former spouse as a Excess Plan beneficiary on a form executed by the Participant and received by the Principal Sponsor after the date of the legal
termination of the marriage between the Participant and such former spouse, and during the Participant's lifetime.)

	(d)
	Any
designation of a nonspouse Excess Plan beneficiary by name that is accompanied by a description of relationship to the Participant shall be given
effect without regard to whether the relationship to the Participant exists either then or at the Participant's death.

	(e)
	Any
designation of a Excess Plan beneficiary only by statement of relationship to the Participant shall be effective only to designate the person or
persons standing in such relationship to the Participant at the Participant's death.

	(f)
	A
Excess Plan beneficiary designation is permanently void if it either is executed or is filed by a Participant who, at the time of such execution or
filing, is then a minor under the law of the state of the Participant's legal residence. The Principal Sponsor shall be the sole judge of the content, interpretation and validity of a purported Excess
Plan beneficiary designation. 

SECTION 8  

 CLAIMS PROCEDURE  

        8.1.    Original Claim.    Any person may file with the Principal Sponsor a written claim for benefits under the
Excess Plan. An application for benefits under Section 4 shall be processed as a claim for the purposes of this Section 8. Within ninety (90) days after the filing of such a
claim, the Principal Sponsor shall notify the claimant in writing whether his or her claim is upheld or denied in whole or in part or shall furnish the claimant a written notice describing specific
special circumstances requiring a specified amount of additional time (but not more than one hundred eighty days from the date the claim was filed) to reach a decision on the claim. If the claim is
denied in whole or in part, the Principal Sponsor shall state in writing: 

	(a)
	the
specific reasons for the denial;

	(b)
	the
specific references to the pertinent provisions of this Excess Plan on which the denial is based; 

8

 

	(c)
	a
description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or
information is necessary; and

	(d)
	an
explanation of the claims review procedure set forth in this section. 

        8.2.    Claims Review Procedure.    Within sixty (60) days after receipt of notice that his or her claim has
been denied in whole or in part, the claimant may file with the Principal Sponsor a written request for a review and may, in conjunction therewith, submit written issues and comments. Within sixty
(60) days after the filing of such a request for review, the Principal Sponsor shall notify the claimant in writing whether, upon review, the claim was upheld or denied in whole or in part or
shall furnish the claimant a written notice describing specific special circumstances requiring a specified amount of additional time (but not more than one hundred twenty days from the date the
request for review was filed) to reach a decision on the request for review. 

        8.3    General Rules.    

	(a)
	No
inquiry or question shall be deemed to be a claim or a request for a review of a denied claim unless made in accordance with the claims procedure. The
Principal Sponsor may require that any claim for benefits and any request for a review of a denied claim be filed on forms to be furnished by the Principal Sponsor upon request.

	(b)
	All
decision on claims and on requests for a review of denied claims shall be made by the Principal Sponsor.

	(c)
	The
Principal Sponsor may, in its discretion, hold one or more hearings on a claim or a request for a review of a denied claim.

	(d)
	Claimants
may be represented by a lawyer or other representative (at their own expense), but the Principal Sponsor reserves the right to require the
claimant to furnish written authorization. A claimant's representative shall be entitled to receive copies of notices sent to the claimant.

	(e)
	The
decision of the Principal Sponsor on a claim and on a request for a review of a denied claim shall be served on the claimant in writing. If a
decision or notice is not received by a claimant within the time specified, the claim or request for a review of a denied claim shall be deemed to have been denied.

	(f)
	Prior
to filing a claim or a request for a review of a denied claim, the claimant or his or her representative shall have a reasonable opportunity to
review a copy of this Excess Plan and all other pertinent documents in the possession of the Principal Sponsor.

	(g)
	The
Principal Sponsor may permanently or temporarily delegate all or a portion of its authority and responsibility under this Section 8 to a
committee or individual. 

        8.4.    Limitations Periods.    No claim shall be considered under the claim and review procedure unless it is filed
with the Principal Sponsor within two (2) years after the claimant knew (or reasonably should have known) of the principal facts upon which the claim is based. Every untimely claim shall be
denied by the Principal Sponsor without regard to the merits of the claim. No legal action (whether arising under section 502 or section 510 of ERISA or under any other statute or
non-statutory law) may be brought by any claimant on any matter pertaining to this Plan unless the legal action is commenced in the proper forum before: 

	(a)
	three
(3) years after the claimant knew (or reasonably should have known) of the principal facts on which the claim is based, or if earlier

	(b)
	one
hundred eighty (180) days after the claimant has exhausted the claim and review procedure. 

9

 

Knowledge
of all facts that a Participant knew (or reasonably should have known) shall be imputed to every claimant who claims to derive an entitlement by reference to the Participant for the purpose
of applying the previously specified periods. 

        8.5.    Exhaustion of Administrative Remedies.    The exhaustion of the claim and review procedure is mandatory for
resolving every claim for benefits arising under this Plan. As to such claims: 

	(a)
	no
claimant shall be permitted to commence any legal action relating to any such claim (whether arising under section 502 or section 510 of
ERISA or under any other statute or non-statutory law) unless a timely claim has been filed under the claim and review procedure and the claim and review procedure has been exhausted; and

	(b)
	in
any such legal action all explicit and all implicit determinations by the Principal Sponsor (including, but not limited to, determinations as to
whether the claim was timely filed) shall be afforded complete deference unless the claimant establishes by a clear preponderance of the evidence that the Principal Sponsor's determination was both
arbitrary and capricious. 

SECTION 9  

 CONSTRUCTION  

        9.1.    Defined Terms.    Words and phrases used in this Excess Plan with initial capital letters, which are defined
in the Qualified Pension Plan documents and which are not separately defined in this Excess Plan shall have the same meaning ascribed to them in the Qualified Pension Plan documents unless in the
context in which they are used it would be clearly inappropriate to do so. 

        9.2.    ERISA Status.    This Excess Plan is adopted with the understanding that it is an unfunded plan maintained
primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees as provided in section 201(2), section 301(3) and
section 401(a)(1) of ERISA. Each provision shall be interpreted and administered accordingly. 

        9.3.    IRC Status.    This Excess Plan is intended to be a nonqualified deferred compensation arrangement. The rules
of section 401(a) et. seq. of the Code shall not apply to this Excess Plan. The rules of section 3121(v) and
section 3306(r)(2) of the Code shall apply to this Excess Plan. 

        9.4.    Effect on Other Plans.    This Excess Plan shall not alter, enlarge or diminish any person's employment rights
or obligations or rights or obligations under the Qualified Pension Plan or any other plan. It is specifically contemplated that the Qualified Pension Plan will, from time to time, be amended and
possibly terminated. All such amendments and termination shall be given effect under this Excess Plan (it being expressly intended that this Excess Plan shall not lock in the benefit structures of the
Qualified Pension Plan as they exist at the adoption of this Excess Plan or upon the commencement of participation or commencement of benefits by any Participant). 

        9.5.    Disqualification.    Notwithstanding any other provision of this Excess Plan or any election or designation
made under the Excess Plan, any individual who feloniously and intentionally kills a Participant shall be deemed for all purposes of this Excess Plan and all elections and designations made under this
Excess Plan to have died before such Participant. A final judgment of conviction of felonious and intentional killing is conclusive for this purpose. In the absence of a conviction of felonious and
intentional killing, the Principal Sponsor shall determine whether the killing was felonious and intentional for this purpose. 

        9.6.    Rules of Document Construction.    Whenever appropriate, words used herein in the singular may be read in the
plural, or words used herein in the plural may be read in the singular; the masculine may include the feminine; and the words "hereof," "herein" or "hereunder" or other similar compounds of the word
"here" shall mean and refer to the entire Excess Plan and not to any particular paragraph or Section of this Excess Plan unless the context clearly indicates to the contrary. The titles 

10

 

given to the various Sections of this Excess Plan are inserted for convenience of reference only and are not part of this Excess Plan, and they shall not be considered in determining the purpose,
meaning or intent of any provision hereof. 

        9.7.    References to Laws.    Any reference in this Excess Plan to a statute or regulation shall be considered also
to mean and refer to any subsequent amendment or replacement of that statute or regulation. 

        9.8.    Effect on Employment.    Neither the terms of this Excess Plan nor the benefits hereunder nor the continuance
thereof shall be a term of the employment of any employee. The Principal Sponsor shall not be obliged to continue the Excess Plan. The terms of this Excess Plan shall not give any employee the right
to be retained in the employment of the Principal Sponsor. 

        9.9.    Choice of Law.    This instrument has been executed and delivered in the State of Minnesota and has been drawn
in conformity to the laws of that State and shall, except to the extent that federal law is controlling, be construed and enforced in accordance with the laws of the State of Minnesota. 

	October 25, 2001	 	NORTHWEST AIRLINES, INC.
	

 	
 	

By	
 	

 
	 	 	 	 	

	 	 	Its:	 	Chief Executive Officer

11

QuickLinks

Exhibit 10.23

NORTHWEST AIRLINES EXCESS PENSION PLAN FOR SALARIED EMPLOYEES (2001 Restatement)

TABLE OF CONTENTSQuickLinks
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Exhibit 10.24    
  

 
 

NORTHWEST AIRLINES
  SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
  (2001 Restatement)    
  

NORTHWEST AIRLINES

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

(2001 Restatement)  

Preamble  

        1.1.    Amendment and Restatement.    Northwest Airlines, Inc., a Minnesota corporation, (hereinafter the
"Principal Sponsor") heretofore established the "Northwest Airlines, Inc. Supplemental Executive Retirement Plan" (the "SERP") and reserved to itself the right to amend that Plan from time to
time. By adoption of this amended and restated document entitled "Northwest Airlines Supplemental Executive Retirement Plan (2001 Restatement)," the Principal Sponsor hereby amends and restates the
SERP in its entirety as applied to all persons who are Participants as of January 1, 2001 (without regard to whether they are then actively employed on that date) and all persons who become
Participants after that date. 

        1.2.    Unfunded Obligation.    The obligation of the Principal Sponsor to make payments under this SERP constitutes
only the unsecured (but legally enforceable) promise of the Principal Sponsor to make such payments. The Participant shall have no lien, prior claim or other security interest in any property of the
Principal Sponsor. If a fund is established by the Principal Sponsor in connection with this SERP, the property therein shall remain the sole and exclusive property of the Principal Sponsor. The
Principal Sponsor will pay the cost of this SERP out of its general assets. 

        1.3.    Scope.    This SERP document consists of a Preamble and two distinct and mutually exclusive Parts applicable
to mutually exclusive groups of Participants as follows. 

        1.3.1.    Part A.    Part A of the SERP document contains all the provisions and
rules applicable to the following Participants: 

	(a)
	Each
Participant with an effective date for the commencement of SERP participation that is prior to January 1, 2001, who did not continue in
active employment with Northwest Airlines, Inc. on or after January 1, 2001, and

	(b)
	Each
Participant with an effective date for the commencement of SERP participation that is prior to January 1, 2001, who did continue in active
employment with Northwest Airlines, Inc. on or after January 1, 2001, but who did not affirmatively agree in an Ancillary Agreement signed after January 1, 2001 by the Participant
and by the Principal Sponsor to become covered under Part B. 

No
portion of Part A of the SERP document is applicable to any Participant to whom Part B is applicable. 

        1.3.2.    Part B.    Part B of the SERP document contains all the provisions and
rules applicable to the following Participants. 

	(a)
	Each
Participant with an effective date for the commencement of SERP participation that is prior to January 1, 2001, who did continue in active
employment with Northwest Airlines, Inc. on or after January 1, 2001, and who did affirmatively agree in an Ancillary Agreement signed after January 1, 2001 by the Participant and
by the Principal Sponsor to become covered under Part B, and

	(a)
	Each
Participant with an effective date for the commencement of SERP participation that is on or after January 1, 2001. 

No
portion of Part B of the SERP document is applicable to any Participant to whom Part A is applicable. 

 

        IN WITNESS WHEREOF, Northwest Airlines, Inc. has caused this amended and restated document to be adopted effective as of
January 1, 2001. 

	October 25, 2001	 	NORTHWEST AIRLINES, INC.
	

 	
 	

By	
 	

 
	 	 	 	 	

	 	 	Its:	 	Chief Executive Officer

2

NORTHWEST AIRLINES

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

(2001 Restatement)  

         Part A  

 
NORTHWEST AIRLINES

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

(2001 Restatement)  

Part A  

TABLE OF CONTENTS  

	 
	 	 
	 	 
	 	 
	 	Page

	

SECTION 1.	
 	

INTRODUCTION	
 	

1
	

 	
 	

1.1.	
 	

Plan Established	
 	

 
	 	 	1.2.	 	Scope of Part A	 	 
	 	 	1.3.	 	Unfunded Obligation	 	 
	

SECTION 2.	
 	

PLAN NAME	
 	

1
	

SECTION 3.	
 	

PARTICIPANTS	
 	

2
	

 	
 	

3.1.	
 	

Participants	
 	

 
	 	 	3.2.	 	Continuation of Status	 	 
	

SECTION 4.	
 	

BENEFITS PAYABLE	
 	

2
	

 	
 	

4.1.	
 	

Benefit for Participants	
 	

 
	 	 	 	 	4.1.1.	 	Entitlement and Amount	 	 
	 	 	 	 	4.1.2.	 	Form of Payment	 	 
	 	 	4.2.	 	Benefit for Beneficiaries	 	 
	 	 	 	 	4.2.1.	 	Entitlement and Amount	 	 
	 	 	 	 	4.2.2.	 	Form of Payment	 	 
	 	 	4.3.	 	Ancillary Agreements	 	 
	

SECTION 5.	
 	

FUNDING	
 	

4
	

 	
 	

5.1.	
 	

Hedging Investments	
 	

 
	 	 	5.2.	 	Corporate Obligation	 	 
	

SECTION 6.	
 	

GENERAL MATTERS	
 	

5
	

 	
 	

6.1.	
 	

Amendments	
 	

 
	 	 	6.2.	 	ERISA Administrator	 	 
	 	 	6.3.	 	Service of Process	 	 
	 	 	6.4.	 	Limited Benefits	 	 
	 	 	6.5.	 	Spendthrift Provision	 	 
	 	 	6.6.	 	Certifications	 	 
	 	 	6.7.	 	Errors in Computations	 	 
	

SECTION 7.	
 	

FORFEITURE OF BENEFITS	
 	

5
	

SECTION 8.	
 	

CLAIMS PROCEDURE	
 	

6
	

 	
 	

8.1.	
 	

Initiating Benefits	
 	

 
	 	 	8.2.	 	Original Claim	 	 
	 	 	8.3.	 	Claims Review Procedure	 	 
	 	 	8.4.	 	General Rules	 	 

i

 

	

SECTION 9.	
 	

CONSTRUCTION	
 	

7
	

 	
 	

9.1.	
 	

Defined Terms	
 	

 
	 	 	9.2.	 	ERISA Status	 	 
	 	 	9.3.	 	IRC Status	 	 
	 	 	9.4.	 	Effect on Other Plans	 	 
	 	 	9.5.	 	Disqualification	 	 
	 	 	9.6.	 	Rules of Document Construction	 	 
	 	 	9.7.	 	References to Laws	 	 
	 	 	9.8.	 	Effect on Employment	 	 
	 	 	9.9.	 	Choice of Law	 	 
	

APPENDIX A — DEFINITIONS	
 	

A-1

ii

NORTHWEST AIRLINES

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

(2001 Restatement)  

Part A  

SECTION 1

INTRODUCTION  

        1.1.    Plan Established.    Effective as of January 1, 1995, NORTHWEST AIRLINES, INC., a Minnesota
corporation, (the "Principal Sponsor") establishes this employee benefit plan for the purpose of providing additional retirement to certain eligible employees in addition to the "final average
earnings formula" benefits provided under the tax-qualified defined benefit pension plan known as the "Northwest Airlines Pension Plan for Salaried Employees" (the "Pension Plan") and the
nonqualified defined benefit pension plan known as the "Northwest Airlines Pension Excess Plan for Salaried Employees" (the "Excess Plan"). 

        1.2.    Scope of Part A.    This Part A of the SERP document (together with the Preamble to the SERP
document) contains all the provisions and rules applicable to the following Participants: 

	(a)
	Each
Participant with an effective date for the commencement of SERP participation that is prior to January 1, 2001, who did not continue in
active employment with Northwest Airlines, Inc. on or after January 1, 2001, and

	(b)
	Each
Participant with an effective date for the commencement of SERP participation that is prior to January 1, 2001, who did continue in active
employment with Northwest Airlines, Inc. on or after January 1, 2001, but who did not affirmatively agree in an Ancillary Agreement signed after January 1, 2001 by the Participant
and by the Principal Sponsor to become covered under Part B. 

No
portion of this Part A of the SERP document is applicable to any Participant to whom Part B is applicable. 

        1.3.    Unfunded Obligation.    The obligation of the Principal Sponsor to make payments under this SERP constitutes
only the unsecured (but legally enforceable) promise of the Principal Sponsor to make such payments. The Participant shall have no lien, prior claim or other security interest in any property of the
Principal Sponsor. If a fund is established by the Principal Sponsor in connection with this SERP, the property therein shall remain the sole and exclusive property of the Principal Sponsor. The
Principal Sponsor will pay the cost of this SERP out of its general assets. 

SECTION 2  

 PLAN NAME  

        This employee benefit plan shall be referred to as the "Northwest Airlines Supplemental Executive Retirement Plan" (the "SERP") and this portion of the SERP shall
be referred to as Part A. This document, as distinguished from the plan maintained pursuant to this document, shall be referred to as the "Northwest Airlines Supplemental Executive Retirement
Plan (2001 Restatement)" (the "SERP document") and this portion of the 2001 Restatement shall be referred to as the "Northwest Airlines Supplemental Executive Retirement Plan (2001
Restatement)—Part A" ("Part A of the SERP document"). 

 

SECTION 3  

 PARTICIPANTS  

        3.1.    Participants.    The Participants in the SERP shall be those individuals who have been expressly designated as
Participants by the Principal Sponsor in writing. The effective date for the commencement of SERP participation for each such individual shall be the date specified in such writing. 

        3.2.    Continuation of Status.    Any individual who has become a Participant in the SERP shall continue as a
Participant until all benefits which are due under this SERP have been received without regard to whether he or she continues as an officer or a participant in the Pension Plan or an active employee. 

SECTION 4  

 BENEFITS PAYABLE  

        4.1.    Benefit for Participants.    

        4.1.1.    Entitlement and Amount.    Upon the retirement or other termination of employment of
a Participant who has any vested and nonforfeitable entitlement to an Accrued Benefit under the Pension Plan, this SERP shall pay to a Participant the excess, if any, of: 

	(a)
	the
amount that would have been payable to the Participant under the Pension Plan if such benefit had been determined:

	(i)
	without
regard to the benefit limitations under section 415 of the Code, and

	(ii)
	without
regard to the compensation limitation of section 401(a)(17) of the Code, and

	(iii)
	assuming
that the Participant's actual Benefit Service was increased by two (2) additional deemed years of Benefit Service for each actual year
of employment completed by the Participant on or after the Participant's effective date for the commencement of SERP participation (not to exceed ten additional deemed years over and above the actual
Benefit Service), and

	(iv)
	computing
the Participant's Earnings and Final Average Earnings on the basis of thirty-six (36) months rather than sixty
(60) months and without regard to whether those thirty-six (36) months are consecutive, and

	(v)
	by
including in Earnings and in Final Average Earnings amounts not otherwise included because they were deferred at the election of the Participant
under a nonqualified deferred compensation plan at the time or times when they would have been included but for such election to defer; minus 

	(b)
	the
amount actually paid from the Pension Plan and the Excess Plan. 

The
definitions of Earnings and Final Average Earnings are, except as specifically provided herein, contained in the Pension Plan. For this purpose and for similar purposes in Section 4.2,
notwithstanding anything to the contrary in the definition of Earnings and Final Average Earnings in the Pension Plan: (a) bonuses paid pursuant to the Principal Sponsor's annual bonus program
shall be spread evenly over the months in the calendar year in which such bonuses were earned, (b) other bonuses (such as "sign on bonuses") shall be spread evenly over the twelve
(12) months in the calendar year in which such bonuses are paid, (c) income attributable in any manner to stock options is not included in Earnings either when paid or received,
(d) severance payments, however denominated, are not included in Earnings, and (e) any gross up payments shall be excluded from Earnings if they relate to items that are themselves
excluded from Earnings (such as relocation payments). 

2

 

        4.1.2.    Form of Payment.    Except as may otherwise be specifically provided in this SERP,
this benefit (minus the withholding, payroll and other taxes which must be deducted therefrom) shall be paid to the Participant in the same manner, at the same time, for the same duration and in the
same form as if such benefit had been paid directly from the Pension Plan. All elections and optional forms of settlement in effect and all other rules governing the payment of benefits under the
Pension Plan shall, to the extent practicable, be given effect under this SERP so that the Participant will receive from a combination of the Pension Plan, the Excess Plan and this SERP the same
benefit (minus the withholding, payroll and other taxes which must be deducted therefrom) which would have been received under the Pension Plan if the Excess Plan and SERP benefit had been payable
from the
Pension Plan. Notwithstanding the foregoing, the benefit payable from this SERP shall not commence until: 

	(a)
	at
or after the Participant attains age sixty (60) years, or

	(b)
	at
or after the Participant attains age fifty-five (55) years, but only if the retirement or other termination of employment was:

	(i)
	by
action of the Principal Sponsor other than for Cause (as defined in Section 9), or

	(ii)
	for
Good Reason (as defined in Section 9), or

	(iii)
	at
the request of or with the prior consent of the Principal Sponsor. 

Notwithstanding
the provisions of the Pension Plan and the Excess Plan regarding the reduction of benefits for early commencement, if the first payment of the benefit payable under this SERP precedes
the last day of the month following the month in which the Participant would attain age sixty-five (65) years, the amount otherwise payable under this SERP shall be reduced
five-twelfths of one percent (5/12%) for each full month by which such first payment precedes the last day of the calendar month following the month in which the Participant would attain
age sixty-five (65) years. (Payments made under the Pension Plan and the Excess Plan shall be reduced for early commencement in accordance with the rules in the Pension Plan and the
Excess Plan.) 

        4.2.    Benefit for Beneficiaries.    

        4.2.1.    Entitlement and Amount.    Upon the death of a Participant, this SERP shall pay to
the surviving spouse or other joint or contingent annuitant or beneficiary of a Participant the excess, if any, of: 

	(a)
	the
amount which would have been payable to such person under the Pension Plan if such benefit had been determined:

	(i)
	without
regard to the benefit limitations under section 415 of the Code, and

	(ii)
	without
regard to the compensation limitation of section 401(a)(17) of the Code, and

	(iii)
	assuming
that the Participant's actual Benefit Service was increased by two (2) additional deemed years of Benefit Service for each actual year
of employment completed by the Participant on or after the Participant's effective date for the commencement of SERP participation (not to exceed ten additional deemed years over and above the actual
Benefit Service), and

	(iv)
	computing
the Participant's Earnings and Final Average Earnings on the basis of thirty-six (36) months rather than sixty
(60) months and without regard to whether those thirty-six (36) months are consecutive, and

	(v)
	by
including in Earnings and in Final Average Earnings amounts not otherwise included because they were deferred at the election of the Participant
under a 

3

 

nonqualified
deferred compensation plan at the time or times when they would have been included but for such election to defer; minus 

	(b)
	the
amount actually paid from the Pension Plan and the Excess Plan. 

        4.2.2.    Form of Payment.    This benefit (minus the withholding, payroll and other taxes
which must be deducted therefrom) shall be paid to such person in the same manner, at the same time, for the same duration and in the same form as if such benefit had been paid directly from the
Pension Plan. All elections and optional forms of settlement in effect and all other rules governing the payment of benefits under the Pension Plan shall, to the extent practicable, be given effect
under this SERP so that such person will receive from a combination of the Pension Plan, the Excess Plan and this SERP the same benefit (minus the withholding, payroll and other taxes which must be
deducted therefrom) which would have been received under the Pension Plan if the Excess Plan and SERP benefit had been paid from the Pension Plan. To the extent relevant to the determination of the
amount of benefit payable to a surviving souse or other joint or contingent annuitant under this SERP, early commencement reduction factors consistent with those applicable to payments to a
Participant under Section 4.1 shall also be applied to the benefit payable to any survivor under this Section 4.2. 

        4.3.    Ancillary Agreements.    A Participant and the Principal Sponsor may, from time to time, enter into other
written agreements which vary the entitlement to, computation of and form of benefits under this SERP including, but not limited to, agreements requiring that this SERP recognize additional periods of
Benefit Service or Vesting Service or both and that this SERP recognize additional Earnings and Final Average Earnings. With respect to any such Participant, such written agreement shall be given
effect under this SERP as if fully set forth herein. 

SECTION 5  

 FUNDING  

        5.1.    Hedging Investments.    If the Principal Sponsor elects to finance all or a portion of its costs in connection
with this SERP through the purchase of life insurance or other investments, the Participant agrees, as a condition of participation in this SERP, to cooperate with the Principal Sponsor in the
purchase of such investment to any extent reasonably required by the Principal Sponsor and relinquishes any claim he or she may have either for himself or herself or any beneficiary to the proceeds of
any such investment or any other rights or interests in such investment. If a Participant fails or refuses to cooperate, then notwithstanding any other provision of this SERP (including, without
limiting the generality of the foregoing, Section 4) the Principal Sponsor shall immediately and irrevocably terminate and forfeit the Participant's entitlement to benefits under the SERP. 

        5.2.    Corporate Obligation.    Neither the Principal Sponsor's officers nor any member of its Board of Directors in
any way secures or guarantees the payment of any benefit or amount which may become due and payable hereunder to or with respect to any Participant. Each Participant and other person entitled at any
time to payments hereunder shall look solely to the assets of the Principal Sponsor for such payments as an unsecured, general creditor. After benefits shall have been paid to or with respect to a
Participant and such payment purports to cover in full the benefit hereunder, such former Participant or other person or persons, as the case may be, shall have no further right or interest in the
other assets of the Principal Sponsor in connection with this SERP. Neither the Principal Sponsor nor any of its officers nor any member of its Boards of Directors shall be under any liability or
responsibility for failure to effect any of the objectives or purposes of the SERP by reason of the insolvency of the Principal Sponsor. 

4

 

SECTION 6  

 GENERAL MATTERS  

        6.1.    Amendments.    This SERP may be amended by action of the Principal Sponsor without the consent of any
Participant in whole or in part, from time to time and at any time; provided, however, that no amendment of this SERP shall be effective as to a
Participant to the extent the amendment would have the effect of diminishing the benefits payable to or with respect to the Participant under this SERP or the procedural rights of the Participant
under this SERP unless the Participant has consented to such amendment in writing. 

        6.2.    ERISA Administrator.    The Principal Sponsor shall be the plan administrator of this SERP. 

        6.3.    Service of Process.    In the absence of any designation to the contrary by the Principal Sponsor, the
Secretary of the Principal Sponsor is designated as the appropriate and exclusive agent for the receipt of service of process directed to the Plan in any legal proceeding, including arbitration,
involving the Plan. 

        6.4.    Limited Benefits.    This SERP shall not provide any benefits determined with respect to any defined
contribution plan. 

        6.5.    Spendthrift Provision.    No Participant, surviving spouse, joint or contingent annuitant or beneficiary shall
have the power to transmit, assign, alienate, dispose of, pledge or encumber any benefit payable under this SERP before its actual payment to such person. The Principal Sponsor shall not recognize any
such effort to convey any interest under this SERP. No benefit payable under this SERP shall be subject to attachment, garnishment, execution following judgment or other legal process before actual
payment to such person. 

        6.6.    Certifications.    Information to be supplied or written notices to be made or consents to be given by the
Principal Sponsor pursuant to any provision of this SERP may be signed in the name of the Principal Sponsor by any officer who has been authorized to make such certification or to give such notices or
consents. 

        6.7.    Errors in Computations.    The Principal Sponsor shall not be liable or responsible for any error in the
computation of any benefit payable to or with respect to any Participant resulting from any misstatement of fact made by the Participant or by or on behalf of any survivor to whom such benefit shall
be payable, directly or indirectly, to the Principal Sponsor, and used by the Principal Sponsor in determining the benefit. The Principal Sponsor shall not be obligated or required to increase the
benefit payable to or with respect to such Participant which, on discovery of the misstatement, is found to be understated as a result of such misstatement of the Participant. However, the benefit of
any Participant which is overstated by reason of any such misstatement or any other reason shall be reduced to the amount appropriate in view of the truth (and to recover any prior overpayment). 

SECTION 7  

 FORFEITURE OF BENEFITS  

        All benefits under this SERP, shall be permanently forfeited if the Participant becomes at any time an employee of any of the top five (5) passenger
airlines in the Unites States (other than the Principal Sponsor) as ranked by revenue passenger miles. In no event shall this Section serve as a basis for requiring a Participant to repay any benefits
previously paid to a Participant prior to commencement of such employment. 

5

 

SECTION 8  

 CLAIMS PROCEDURE  

        8.1.    Initiating Benefits.    At the earliest time that a Participant may be entitled to receive benefits under this
SERP, the Principal Sponsor shall notify the Participant of that entitlement and of the procedures for requesting the payment of benefits hereunder. Without regard to whether such notification is
given by the Principal Sponsor, a Participant may request the payment of benefits under this SERP. The Principal Sponsor shall, upon receipt of such request expeditiously process the payment of
benefits hereunder. 

        8.2.    Original Claim.    Any person may file with the Principal Sponsor a written claim for benefits under the SERP.
Within thirty (30) days after the filing of such a claim, the Principal Sponsor shall notify the claimant in writing whether his or her claim is upheld or denied in whole or in part or shall
furnish the claimant a written notice describing specific special circumstances requiring a specified amount of additional time (but not more than sixty days from the date the claim was filed) to
reach a decision on the claim. If the claim is denied in whole or in part, the Principal Sponsor shall state in writing: 

	(a)
	the
specific reasons for the denial;

	(b)
	the
specific references to the pertinent provisions of this SERP on which the denial is based;

	(c)
	a
description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or
information is necessary; and

	(d)
	an
explanation of the claims review procedure set forth in this section. 

        8.3.    Claims Review Procedure.    Within sixty (60) days after receipt of notice that his or her claim has
been denied in whole or in part, the claimant may file with the Principal Sponsor a written request for a review and may, in conjunction therewith, submit written issues and comments. Within thirty
(30) days after the filing of such a request for review, the Principal Sponsor shall notify the claimant in writing whether, upon review, the claim was upheld or denied in whole or in part or
shall furnish the claimant a written notice describing specific special circumstances requiring a specified amount of additional time (but not more than sixty days from the date the request for review
was filed) to reach a decision on the request for review. 

        8.4.    General Rules.    

	(a)
	No
inquiry or question shall be deemed to be a claim or a request for a review of a denied claim unless made in accordance with the claims procedure. The
Principal Sponsor may require that any claim for benefits and any request for a review of a denied claim be filed on forms to be furnished by the Principal Sponsor upon request.

	(b)
	All
decisions on claims and on requests for a review of denied claims shall be made by the Principal Sponsor.

	(c)
	The
Principal Sponsor may, in its discretion, hold one or more hearings on a claim or a request for a review of a denied claim.

	(d)
	Claimants
may be represented by a lawyer or other representative (at their own expense). A claimant's representative shall be entitled to receive copies
of notices sent to the claimant.

	(e)
	The
decision of the Principal Sponsor on a claim and on a request for a review of a denied claim shall be served on the claimant in writing. If a
decision or notice is not received by a claimant within the time specified, the claim or request for a review of a denied claim shall be deemed to have been denied. 

6

 

	(f)
	Prior
to filing a claim or a request for a review of a denied claim, the claimant or his or her representative shall have a reasonable opportunity to
review a copy of this SERP and all other pertinent documents in the possession of the Principal Sponsor.

	(g)
	The
Principal Sponsor may permanently or temporarily delegate all or a portion of its authority and responsibility under this Section 8 to a
committee or individual.

	(h)
	The
procedures and remedies herein are not exclusive. A Participant shall not be required to exhaust these administrative remedies. If there is
litigation regarding the benefits payable to or with respect to a Participant, determinations by the Principal Sponsor shall not be afforded any deference and the matter shall be heard  de novo.

 
 

SECTION 9  

 CONSTRUCTION  

        9.1.    Defined Terms.    Words and phrases used in this SERP document with initial capital letters, which are defined
in the Pension Plan documents and which are not separately defined in this SERP document shall have the same meaning ascribed to them in the Pension Plan documents unless in the context in which they
are used it would be clearly inappropriate to do so. For the purposes of this SERP, the terms "Change in Control," "Cause" and "Good Reason" shall have the meanings specified in the Appendix A
to this SERP. 

        9.2.    ERISA Status.    This SERP is adopted with the understanding that it is an unfunded plan maintained primarily
for the purpose of providing deferred compensation for a select group of management or highly compensated employees as provided in section 201(2), section 301(3) and
section 401(a)(1) of ERISA. Each provision shall be interpreted and administered accordingly. 

        9.3.    IRC Status.    This SERP is intended to be a nonqualified deferred compensation arrangement. The rules of
section 401(a) et. seq. of the Code shall not apply to this SERP. The rules of section 3121(v) and section 3306(r)(2) of the
Code shall apply to this SERP. 

        9.4.    Effect on Other Plans.    This SERP shall not alter, enlarge or diminish any person's employment rights or
obligations or rights or obligations under the Pension Plan, the Excess Plan or any other plan. It is specifically contemplated that the Pension Plan and Excess Plan could, from time to time, be
amended and possibly terminated. This SERP shall not preclude any such amendments or terminations. Although the Principal Sponsor is generally free to amend and terminate the Pension Plan and the
Excess Plan, no amendment or termination of the Pension Plan or the Excess Plan shall be effective as to a Participant to the extent the amendment or termination would have the effect of diminishing
the benefits payable to or with respect to the Participant (or the procedural rights of the Participant) under this SERP unless the Participant has affirmatively agreed in writing to such amendment or
termination. 

        9.5.    Disqualification.    Notwithstanding any other provision of this SERP document or any election or designation
made under the SERP, any individual who feloniously and intentionally kills a Participant shall be deemed for all purposes of this SERP and all elections and designations made under this SERP to have
died before such Participant. A final judgment of conviction of felonious and intentional killing is conclusive for this purpose. In the absence of a conviction of felonious and intentional killing,
the Principal Sponsor shall determine whether the killing was felonious and intentional for this purpose. 

        9.6.    Rules of Document Construction.    Whenever appropriate, words used in this SERP document in the singular may
be read in the plural, or words used in the plural may be read in the singular; the masculine may include the feminine; and the words "hereof," "herein" or "hereunder" or 

7

 

other similar compounds of the word "here" shall mean and refer to the entire SERP document and not to any particular paragraph or Section of this SERP document unless the context clearly indicates
to the contrary. The titles given to the various Sections of this SERP document are inserted for convenience of reference only and are not part of this SERP, and they shall not be considered in
determining the purpose, meaning or intent of any provision hereof. Notwithstanding any thing apparently to the contrary contained in this SERP document, the SERP document shall be construed and
administered to prevent the duplication of benefits provided under this SERP and any other qualified or nonqualified plan maintained in whole or in part by the Principal Sponsor. 

        9.7.    References to Laws.    Any reference in this SERP document to a statute or regulation shall be considered also
to mean and refer to any subsequent amendment or replacement of that statute or regulation. 

        9.8.    Effect on Employment.    Neither the terms of this SERP document nor the benefits hereunder nor the
continuance thereof shall be a term of the employment of any employee. The terms of this SERP document shall not give any employee the right to be retained in the employment of any Employer. 

        9.9.    Choice of Law.    This SERP document has been executed and delivered in the State of Minnesota and shall,
except to the extent that federal law is controlling, be construed and enforced in accordance with the laws of the State of Minnesota. 

8

   APPENDIX A  

 DEFINITIONS  

        When used in the SERP with initial capital letters, the following terms shall have the following meanings. 

        "Cause" shall mean with respect to termination of Participant's employment hereunder 

	(a)
	an
act or acts of personal dishonesty by Participant intended to result in substantial personal enrichment of Participant at the expense of the Principal
Sponsor,

	(b)
	an
act or acts of personal dishonesty by Participant intended to cause substantial injury to the Principal Sponsor,

	(c)
	material
breach (other than as a result of a Disability) by Participant of Participant's obligations under written agreement between the Principal
Sponsor and the Participant which action was

	(i)
	undertaken
without a reasonable belief that the action was in the best interest of the Principal Sponsor, and

	(ii)
	not
remedied within a reasonable period of time after receipt of written notice from the Principal Sponsor specifying the alleged breach, or 

	(d)
	the
conviction of Participant of a felony. 

        "Change in Control" means any one of the following: 

	(a)
	The
acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) or the Securities Exchange Act of 1934 (the
"Exchange Act")) (a "Person") of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of either (i) the then outstanding
shares of Common Stock of Northwest Airlines Corporation (the "Outstanding Parent Common Stock") or (ii) the combined voting power of the then outstanding voting securities of Northwest
Airlines Corporation entitled to vote generally in the election of directors (the "Outstanding Parent Voting Securities"); or

	(b)
	Individuals
who, as of June 1, 1994, constitute the Board of Directors of Northwest Airlines Corporation (the "Incumbent Board") cease for any
reason to constitute at least a majority of such Board; provided, however, that any individual becoming a director subsequent to June 1, 1994, whose election or nomination for election by
Northwest Airlines Corporation's shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a
member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to
the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board of Directors or Northwest Airlines Corporation;
or

	(c)
	Approval
by the shareholders of Northwest Airlines Corporation of a reorganization, merger or consolidation (a "Business Combination"), in each case,
unless, following such Business Combination, (i) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Parent Common Stock
and Outstanding Parent Voting Securities immediately prior to such Business Combination beneficially own, directly, or indirectly, more than 50% of, respectively, the then outstanding shares of common
stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such 

Appendix A-1

 

Business
Combination (including, without limitation, a corporation which as a result of such transaction owns Northwest Airlines Corporation through one or more subsidiaries) in substantially the
same proportions as their ownership immediately prior to such Business Combination of the Outstanding Parent Stock and Outstanding Parent Voting Securities, as the case may be and (ii) at least
a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial
agreement or of the action of such Board, providing for such Business Combination; or 

	(d)
	Approval
by the shareholders of Northwest Airlines Corporation of (i) a complete liquidation or dissolution of Northwest Airlines Corporation or
(ii) the sale or other disposition of all or substantially all of the assets of Northwest Airlines Corporation, other than to a corporation with respect to which following such sale or other
disposition, (X) more than 50% of, respectively, the then outstanding shares
of common stock of such corporation and the combined voting power of the then outstanding voting securities of such corporation entitled to vote generally in the election of directors is then
beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities who were the beneficial owners respectively, of the Outstanding Parent Common Stock and
Outstanding Parent Voting Securities immediately prior to such sale or other disposition in substantially the same proportions as their ownership immediately prior to such sale or other disposition of
the Outstanding Parent Common Stock and Outstanding Parent Voting Securities, as the case may be and (Y) at least a majority of the members of the board of directors of such corporation wee
members of the Incumbent Board at the time of the execution of the initial agreement, or other action of such Board, providing for such sale or other disposition of assets of Northwest Airlines
Corporation or were elected, appointed or nominated by the Incumbent Board. 

        "Good Reason" shall mean with respect to an Participant, any one or more of the following: 

	(a)
	a
material reduction in Participant's compensation or other benefits (except as permitted hereunder);

	(b)
	any
material change in Participant's job responsibilities; provided that, so long as Participant retains a substantial part of his then current oversight
responsibility, a transfer of a portion of such oversight responsibility of Participant shall not in and of itself constitute a material change in Participant's job responsibilities;

	(c)
	the
relocation of the Principal Sponsor's principal Participant offices to a location outside the Minneapolis-St. Paul Metropolitan Area;

	(d)
	a
failure by the Principal Sponsor to comply with any material provision of a written agreement between the Principal Sponsor and the Participant which has not been cured within ten
(10) days after the Principal Sponsor knows or has notice of such noncompliance. 

In
order for an Participant's termination of his employment to be considered for Good Reason, such termination must occur within one (1) year after the event giving rise to such Good Reason.
Participant's continued employment shall not constitute consent to, or a waiver of rights with respect to, any circumstance constituting Good Reason hereunder. 

Appendix A-2

NORTHWEST AIRLINES

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

(2001 Restatement)

Part B  

 
NORTHWEST AIRLINES

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

(2001 Restatement)

Part B  

TABLE OF CONTENTS  

	 
	 	 
	 	 
	 	 
	 	Page

	SECTION 1.	 	INTRODUCTION	 	1
	

 	
 	

1.1.	
 	

Plan Established	
 	

 
	 	 	1.2.	 	Scope of Part B	 	 
	 	 	1.3.	 	Unfunded Obligation	 	 
	

SECTION 2.	
 	

PLAN NAME	
 	

1
	

SECTION 3.	
 	

PARTICIPANTS	
 	

1
	

 	
 	

3.1.	
 	

Participants	
 	

 
	 	 	3.2.	 	Continuation of Status	 	 
	

SECTION 4.	
 	

BENEFITS PAYABLE	
 	

2
	

 	
 	

4.1.	
 	

Benefit for Participants	
 	

 
	 	 	 	 	4.1.1.	 	Entitlement and Amount	 	 
	 	 	 	 	4.1.2.	 	Form of Payment	 	 
	 	 	4.2.	 	Benefit for SERP Beneficiaries	 	 
	 	 	 	 	4.2.1.	 	Entitlement and Amount	 	 
	 	 	 	 	4.2.2.	 	Form of Payment	 	 
	 	 	4.3.	 	Ancillary Agreements	 	 
	

SECTION 5.	
 	

FUNDING	
 	

5
	

 	
 	

5.1.	
 	

Hedging Investments	
 	

 
	 	 	5.2.	 	Corporate Obligation	 	 
	

SECTION 6.	
 	

GENERAL MATTERS	
 	

5
	

 	
 	

6.1.	
 	

Amendments	
 	

 
	 	 	6.2.	 	ERISA Administrator	 	 
	 	 	6.3.	 	Service of Process	 	 
	 	 	6.4.	 	Limited Benefits	 	 
	 	 	6.5.	 	Spendthrift Provision	 	 
	 	 	6.6.	 	Certifications	 	 
	 	 	6.7.	 	Errors in Computations	 	 
	

SECTION 7.	
 	

DESIGNATION OF BENEFICIARIES	
 	

6
	

 	
 	

7.1.	
 	

Right To Designate	
 	

 
	 	 	7.2.	 	Failure of Designation	 	 
	 	 	7.3.	 	Disclaimers by SERP Beneficiaries	 	 
	 	 	7.4.	 	Definitions	 	 
	 	 	7.5.	 	Special Rules	 	 

i

 

	

SECTION 8.	
 	

CLAIMS PROCEDURE	
 	

8
	

 	
 	

8.1.	
 	

Initiating Benefits	
 	

 
	 	 	8.2.	 	Original Claim	 	 
	 	 	8.3.	 	Claims Review Procedure	 	 
	 	 	8.4.	 	General Rules	 	 
	

SECTION 9.	
 	

CONSTRUCTION	
 	

10
	

 	
 	

9.1.	
 	

Defined Terms	
 	

 
	 	 	9.2.	 	ERISA Status	 	 
	 	 	9.3.	 	IRC Status	 	 
	 	 	9.4.	 	Effect on Other Plans	 	 
	 	 	9.5.	 	Disqualification	 	 
	 	 	9.6.	 	Rules of Document Construction	 	 
	 	 	9.7.	 	References to Laws	 	 
	 	 	9.8.	 	Effect on Employment	 	 
	 	 	9.9.	 	Choice of Law	 	 

ii

NORTHWEST AIRLINES

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

(2001 Restatement)

Part B  

SECTION 1  

 INTRODUCTION  

        1.1.    Plan Established.    Effective as of January 1, 1995, NORTHWEST AIRLINES, INC., a Minnesota
corporation, (the "Principal Sponsor") establishes this employee benefit plan for the purpose of providing additional retirement to certain eligible employees in addition to the "final average
earnings formula" or "cash balance formula" benefits provided under the tax-qualified defined benefit pension plan known as the "Northwest Airlines Pension Plan for Salaried Employees"
(the "Pension Plan") and the nonqualified defined benefit pension plan known as the "Northwest Airlines Pension Excess Plan for Salaried Employees" (the "Excess Plan"). 

        1.2.    Scope of Part B.    This Part B of the SERP document (together with the Preamble to the SERP
document) contains all the provisions and rules applicable to the following Participants: 

	(a)
	Each
Participant with an effective date for the commencement of SERP participation that is prior to January 1, 2001, who did continue in active
employment with Northwest Airlines, Inc. on or after January 1, 2001, and who did affirmatively agree in an Ancillary Agreement signed after January 1, 2001 by the Participant and
by the Principal Sponsor to become covered under Part B, and

	(b)
	Each
Participant with an effective date for the commencement of SERP participation that is on or after January 1, 2001. 

No
portion of this Part B of the SERP document is applicable to any Participant to whom Part A is applicable. 

        l.3.    Unfunded Obligation.    The obligation of the Principal Sponsor to make payments under this SERP constitutes
only the unsecured (but legally enforceable) promise of the Principal Sponsor to make such payments. The Participant shall have no lien, prior claim or other security interest in any property of the
Principal Sponsor. If a fund is established by the Principal Sponsor in connection with this SERP, the property therein shall remain the sole and exclusive property of the Principal Sponsor. The
Principal Sponsor will pay the cost of this SERP out of its general assets. 

SECTION 2  

 PLAN NAME  

        This employee benefit plan shall be referred to as the "Northwest Airlines Supplemental Executive Retirement Plan" (the "SERP") and this portion of the SERP shall
be referred to as Part B. This document, as distinguished from the plan maintained pursuant to this document, shall be referred to as the "Northwest Airlines Supplemental Executive Retirement
Plan (2001 Restatement)" (the "SERP document") and this portion of the 2001 Restatement shall be referred to as the "Northwest Airlines Supplemental Executive Retirement Plan (2001
Restatement)—Part B" ("Part B of the SERP document"). 

SECTION 3  

 PARTICIPANTS  

        3.1.    Participants.    The Participants in the SERP shall be those individuals who have been expressly designated as
Participants by the Principal Sponsor in writing by the Chief Executive Officer of the Principal Sponsor. The effective date for the commencement of SERP participation for each 

 

such individual shall be the date specified in such writing. If the designation is of the Chief Executive Officer, it shall be signed after January 1, 2001 by the Participant and by the
Principal Sponsor by the Chairperson of the Compensation Committee of the Board of Directors or by the Chairperson of the Board of Directors. 

        3.2.    Continuation of Status.    Any individual who has become a Participant in the SERP shall continue as a
Participant until all benefits which are due under this SERP have been received without regard to whether he or she continues as an officer or a participant in the Pension Plan or an active employee. 

SECTION 4  

 BENEFITS PAYABLE  

        4.1.    Benefit for Participants.    

        4.1.1.    Entitlement and Amount.    Upon the Termination of Employment of a Participant who
has any Vested and nonforfeitable entitlement to an Accrued Benefit under the Pension Plan, this SERP shall pay to a Participant the excess, if any, of the greater of the amount determined pursuant to
(a) or (b) below subject to the special rules in (c) below. Participants who were not employed prior to January 1, 2001 do not have any benefit under the SERP FAE formula
calculation in (a) below and, therefore, shall have their benefits calculated exclusively pursuant to (b) below. 

2

 

	(a) SERP FAE Formula Calculation.	 	(b) SERP CB Formula Calculation.
	

(1) As If FAE Benefit. Compute the benefit, if any, that would have been payable to the Participant as the Final Average Earnings Annuity ("FAE Formula Benefit") specified in the Pension Plan (i.e.,
Single Life Benefit commencing after Normal Retirement Date) if the following special rules had been applied:

(i)    Disregard the benefit limitations under section 415 of the Code, and

(ii)    Disregard the compensation limitation of section 401(a)(17) of the Code, and

(iii)    Assume that the Participant's actual Benefit Service was increased by such amount or amounts of deemed years of Benefit Service, if any, as may be provided in the Participant's Ancillary Agreement pursuant to Section 4.3,
and

(iv)    Compute the Participant's Earnings and Final Average Earnings on the basis of thirty-six (36) months rather than sixty (60) months and without regard to whether those thirty-six (36) months are consecutive, and

(v)    Include in Earnings and Final Average Earnings amounts not otherwise included because they were deferred at the election of the Participant under a nonqualified deferred compensation plan at the time or times when they
would have been included but for such election to defer; and

(vi)    Spread bonuses other than bonuses paid under the Key Employee Annual Cash Incentive Program (e.g., "sign on bonuses" and "project bonuses") evenly over the twelve (12) months in the calendar year in which such bonuses are
paid when determining Earnings and Final Average Earnings.	
 	

(1) As If CB Benefit. Compute the Cash Balance Account, if any, that would have been accumulated for the Participant under the Pension Plan if the following special rules had been applied:

(i)    Disregard the benefit limitations under section 415 of the Code, and

(ii)    Disregard the compensation limitation of section 401(a)(17) of the Code, and

(iii)    Give effect to the agreements, if any, in the Participant's Ancillary Agreement pursuant to Section 4.3 insofar as they pertain to the determination of the Participant's initial account balance, bonus factor, applicable
pay credit percentage and pay credits, and

(iv)    Include in Earnings amounts not otherwise included because they were deferred at the election of the Participant under a nonqualified deferred compensation plan at the time or times when they would have been included but
for such election to defer.
	
 	
 	

 

3

 

	

(2) Present Value of As If FAE Benefit. Convert the benefit determined in (1) above to a single lump sum by applying the rules of the Pension Plan for converting a FAE Formula Benefit to a single lump
sum except that as to the portion of the benefit determined in (1) above that is not provided under the Pension Plan and the Excess Plan the early commencement reduction factor shall be five percent (5%) per year (5/12% per
month) to age fifty-five (55) years and the Pension Plan's early commencement factors at earlier ages. This single lump sum shall be reduced as provided below.	
 	

(2) Account Value of As If CB Benefit. The amount determined in (1) above shall be reduced as provided below.
	

(3) FAE Formula Benefit Offset. Compute the single lump sum present value of the amounts actually payable to the Participant from the Pension Plan and from the Excess Plan under the rules of the Pension
Plan for converting a FAE Formula Benefit into a single lump sum.	
 	

(3) FAE Formula Benefit Offset. Compute the single lump sum present value of the amounts actually payable to the Participant from the Pension Plan and from the Excess Plan under the rules of the Pension
Plan for converting a FAE Formula Benefit into a single lump sum.
	

(4) CB Formula Benefit Offset. Determine the total of the Participant's Cash Balance Accounts in the Pension Plan and the Excess Plan.	
 	

(4) CB Formula Benefit Offset. Determine the total of the Participant's Cash Balance Accounts in the Pension Plan and the Excess Plan.
	

(5) Subtraction. Subtract the greater of the amount determined in (3) or (4) above from the amount determined in (2) above and the resulting amount shall be the benefit payable to the Participant under
this SERP (unless the amount determined in Section 4.1.1(b)(5) is greater).	
 	

(5) Subtraction. Subtract the greater of the amount determined in (3) or (4) above from the amount determined in (2) above and the resulting amount shall be the benefit payable to the Participant under
this SERP (unless the amount determined in Section 4.1.1(a)(5) is greater).

	(c)
	Transitional Rules. With regard to a Participant who was a Participant before January 1, 2001,
the year 2000 bonus (paid in 2001) under the Key Employee Cash Incentive Program was taken into account in determining the initial account balance under the CB Formula. Pay credits will not be granted
with regard to year 2000 bonus (paid in 2001) under the Key Employee Cash Incentive Program. Pre-2001 deemed service granted under the SERP or under any Ancillary Agreement pursuant to
Section 4.3 was taken into account in determining the initial account balance. 

        4.1.2.    Form of Payment.    This benefit (minus the withholding,
payroll and other taxes which must be deducted therefrom) shall be paid, as soon as administratively feasible (but not more than one hundred fifty days) after Termination of Employment, to the
Participant in a single lump sum payment. 

        4.2.    Benefit for SERP Beneficiaries.    

        4.2.1.    Entitlement and Amount.    Upon the death of a Participant prior to the time the
Participant's benefit has been paid to the Participant, the benefit shall be payable to the SERP beneficiary. 

        4.2.2.    Form of Payment.    This benefit (minus the withholding, payroll and other taxes
which must be deducted therefrom) shall be paid, as soon as administratively feasible after the Participant's death, to the SERP beneficiary in a single lump sum payment. 

4

 

        4.3.    Ancillary Agreements.    A Participant and the Chief Executive Officer of the Principal Sponsor shall enter
into a written Ancillary Agreement which shall evidence the Participant's entitlement to benefits under the SERP and may specify additional terms and conditions upon which the Participant's benefits
shall be determined. With respect to any such Participant, the provisions of such written Ancillary Agreement shall be given effect under this SERP as if fully set forth herein. If the written
Ancillary Agreement is with the Chief Executive Officer, it shall be signed on behalf of the Principal Sponsor by the Chairperson of the Compensation Committee of the Board of Directors or by the
Chairperson of the Board of Directors. 

SECTION 5  

 FUNDING  

        5.1.    Hedging Investments.    If the Principal Sponsor elects to finance all or a portion of its costs in connection
with this SERP through the purchase of life insurance or other investments, the Participant agrees, as a condition of participation in this SERP, to cooperate with the Principal Sponsor in the
purchase of such investment to any extent reasonably required by the Principal Sponsor and relinquishes any claim he or she may have either for himself or herself or any beneficiary to the proceeds of
any such investment or any other rights or interests in such investment. If a Participant fails or refuses to cooperate, then notwithstanding any other provision of this SERP (including, without
limiting the generality of the foregoing, Section 4) the Principal Sponsor shall immediately and irrevocably terminate and forfeit the Participant's entitlement to benefits under the SERP. 

        5.2.    Corporate Obligation.    Neither the Principal Sponsor's officers nor any member of its Board of Directors in
any way secures or guarantees the payment of any benefit or amount which may become due and payable hereunder to or with respect to any Participant. Each Participant and other person entitled at any
time to payments hereunder shall look solely to the assets of the Principal Sponsor for such payments as an unsecured, general creditor. After benefits shall have been paid to or with respect to a
Participant and such payment purports to cover in full the benefit hereunder, such former Participant or other person or persons, as the case may be, shall have no further right or interest in the
other assets of the Principal Sponsor in connection with this SERP. Neither the Principal Sponsor nor any of its officers nor any member of its Boards of Directors shall be under any liability or
responsibility for failure to effect any of the objectives or purposes of the SERP by reason of the insolvency of the Principal Sponsor. 

SECTION 6  

 GENERAL MATTERS  

        6.1.    Amendments.    This SERP may be amended by action of the Principal Sponsor without the consent of any
Participant in whole or in part, from time to time and at any time; provided, however, that no amendment of this SERP shall be effective as to a
Participant to the extent the amendment would have the effect of diminishing the benefits payable to or with respect to the Participant under this SERP or the procedural rights of the Participant
under this SERP unless the Participant has consented to such amendment in writing. 

        6.2.    ERISA Administrator.    The Principal Sponsor shall be the plan administrator of this SERP. 

        6.3.    Service of Process.    In the absence of any designation to the contrary by the Principal Sponsor, the
Secretary of the Principal Sponsor is designated as the appropriate and exclusive agent for the receipt of service of process directed to the Plan in any legal proceeding, including arbitration,
involving the Plan. 

        6.4.    Limited Benefits.    This SERP shall not provide any benefits determined with respect to any defined
contribution plan. 

5

 

        6.5.    Spendthrift Provision.    No Participant, surviving spouse, joint or contingent annuitant or beneficiary shall
have the power to transmit, assign, alienate, dispose of, pledge or encumber any benefit payable under this SERP before its actual payment to such person. The Principal Sponsor shall not recognize any
such effort to convey any interest under this SERP. No benefit payable under this SERP shall be subject to attachment, garnishment, execution following judgment or other legal process before actual
payment to such person. 

        6.6.    Certifications.    Information to be supplied or written notices to be made or consents to be given by the
Principal Sponsor pursuant to any provision of this SERP may be signed in the name of the Principal Sponsor by any officer who has been authorized to make such certification or to give such notices or
consents. 

        6.7.    Errors in Computations.    The Principal Sponsor shall not be liable or responsible for any error in the
computation of any benefit payable to or with respect to any Participant resulting from any misstatement of fact made by the Participant or by or on behalf of any survivor to whom such benefit shall
be payable, directly or indirectly, to the Principal Sponsor, and used by the Principal Sponsor in determining the benefit. The Principal Sponsor shall not be obligated or required to increase the
benefit payable to or with respect to such Participant which, on discovery of the misstatement, is found to be understated as a result of such misstatement of the Participant. However, the benefit of
any Participant which is overstated by reason of any such misstatement or any other reason shall be reduced to the amount appropriate in view of the truth (and to recover any prior overpayment). 

SECTION 7  

 DESIGNATION OF BENEFICIARIES  

        7.1.    Right To Designate.    Each Participant may designate, upon forms to be furnished by and filed with the
Principal Sponsor, one or more primary SERP beneficiaries or alternative SERP beneficiaries to receive all or a specified part of the Participant's benefit in the event of the Participant's death. The
Participant may change or revoke any such designation from time to time without notice to or consent from any SERP beneficiary or spouse. No such designation, change or revocation shall be effective
unless executed by the Participant and received by the Principal Sponsor in its retirement administration department prior to the Participant's death. The Principal Sponsor may establish rules for the
use of electronic signatures in executing SERP beneficiary designations. Until such rules are established, electronic signatures shall not be effective. The designation of a Beneficiary under the
Pension Plan shall not be effective to designate a SERP beneficiary (and vice versa). 

        7.2.    Failure of Designation.    If a Participant: 

	(a)
	fails
to designate a SERP beneficiary,

	(b)
	designates
a SERP beneficiary and thereafter such designation is revoked without another SERP beneficiary being named, or

	(c)
	designates
one or more SERP beneficiaries and all such SERP beneficiaries so designated fail to survive the Participant, 

such
Participant's benefit, or the part thereof as to which such Participant's designation fails, as the case may be, shall be payable to the first class of the following classes of automatic SERP
beneficiaries with a member surviving the Participant and (except in the case of the Participant's surviving issue) in equal shares if there is more than one member in such class surviving the
Participant: 

Participant's
surviving spouse

Participant's surviving issue per stirpes and not per capita

Participant's surviving parents

6

 

Participant's surviving brothers and sisters

Representative of Participant's estate. 

        7.3.    Disclaimers by SERP Beneficiaries.    A SERP beneficiary entitled to a distribution of all or a portion of a
deceased Participant's benefit may disclaim his or her interest therein subject to the following requirements. To be eligible to disclaim, a SERP beneficiary must be a natural person, must not have
received a distribution of all or any portion of a benefit at the time such disclaimer is executed and delivered, and must have attained at least age twenty-one (21) years as of the
date of the Participant's death. Any disclaimer must be in writing and must be executed personally by the SERP beneficiary before a notary public. The Principal Sponsor may establish rules for the use
of electronic signatures and acknowledgements. Until such rules are established, electronic signatures and acknowledgements shall not be effective. A disclaimer shall state that the SERP beneficiary's
entire interest in the undistributed benefit is disclaimed (partial disclaimers not being permitted under this Plan). To be effective, an original executed copy of the disclaimer must be executed and
actually delivered to the Principal Sponsor after the date of the Participant's death but not later than nine (9) months after the date of the Participant's death. A disclaimer shall be
irrevocable when delivered to the Principal Sponsor. A disclaimer shall be considered to be delivered to the Principal Sponsor only when actually received by the Principal Sponsor. The Principal
Sponsor shall be the sole judge of the content, interpretation and validity of a purported disclaimer. Upon the filing of a valid disclaimer, the SERP beneficiary shall be considered not to have
survived the Participant as to the interest disclaimed. A disclaimer by a SERP beneficiary shall not be considered to be a transfer of an interest in violation of the provisions of Section 6.5.
No other form of attempted disclaimer shall be recognized by the Principal Sponsor. 

        7.4.    Definitions.    When used herein and, unless the Participant has otherwise specified in the Participant's SERP
beneficiary designation, when used in a SERP beneficiary designation: 

	(a)
	"issue"
means all persons who are lineal descendants of the person whose issue are referred to, subject to the following: (i) a legally adopted
child and the adopted child's lineal descendants always shall be lineal descendants of each adoptive parent (and of each adoptive parent's lineal ancestors); (ii) a legally adopted child and
the adopted child's lineal descendants never shall be lineal descendants of any former parent whose parental rights were terminated by the adoption (or of that former parent's
lineal ancestors); except that if, after a child's parent has died, the child is legally adopted by a stepparent who is the spouse of the child's surviving parent, the child and the child's lineal
descendants shall remain lineal descendants of the deceased parent (and the deceased parent's lineal ancestors); and (iii) if the person (or a lineal descendant of the person) whose issue are
referred to is the parent of a child (or is treated as such under applicable law) but never received the child into that parent's home and never openly held out the child as that parent's child
(unless doing so was precluded solely by death), then neither the child nor the child's lineal descendants shall be issue of the person.

	(b)
	"child"
means an issue of the first generation;

	(c)
	"per
stirpes" means in equal shares among living children of the person whose issue are referred to and the issue (taken collectively) of each deceased
child of such person, with such issue taking by right of representation of such deceased child; and

	(d)
	"survive"
and "surviving" mean living after the death of the Participant. 

7

 

        7.5.    Special Rules.    Unless the Participant has otherwise specified in the Participant's SERP beneficiary
designation, the following rules shall apply: 

	(a)
	If
there is not sufficient evidence that a SERP beneficiary was living at the time of the death of the Participant, it shall be deemed that the SERP
beneficiary was not living at the time of the death of the Participant.

	(b)
	The
automatic SERP beneficiaries specified in Section 6.9.3 and the SERP beneficiaries designated by the Participant shall become fixed at the
time of the Participant's death so that, if a SERP beneficiary survives the Participant but dies before the receipt of all payments due such SERP beneficiary hereunder, such remaining payments shall
be payable to the representative of such SERP beneficiary's estate.

	(c)
	If
the Participant designates as a SERP beneficiary the person who is the Participant's spouse on the date of the designation, either by name or by
relationship, or both, the dissolution, annulment or other legal termination of the marriage between the Participant and such person shall automatically revoke such designation. (The foregoing shall
not prevent the Participant from designating a former spouse as a SERP beneficiary on a form executed by the Participant and received by the Principal Sponsor after the date of the legal termination
of the marriage between the Participant and such former spouse, and during the Participant's lifetime.)

	(d)
	Any
designation of a nonspouse SERP beneficiary by name that is accompanied by a description of relationship to the Participant shall be given effect
without regard to whether the relationship to the Participant exists either then or at the Participant's death.

	(e)
	Any
designation of a SERP beneficiary only by statement of relationship to the Participant shall be effective only to designate the person or persons
standing in such relationship to the Participant at the Participant's death.

	(f)
	A
SERP beneficiary designation is permanently void if it either is executed or is filed by a Participant who, at the time of such execution or filing,
is then a minor under the law of the state of the Participant's legal residence. The Principal Sponsor shall be the sole judge of the content, interpretation and validity of a purported SERP
beneficiary designation. 

SECTION 8  

 CLAIMS PROCEDURE  

        8.1.    Initiating Benefits.    The Principal Sponsor, upon learning of the Termination of Employment or death of a
Participant shall on its own initiative commence the procedures to make distribution. If two or more persons are claiming the same benefit, the Principal Sponsor may withhold payment until the
identity of the person entitled to the payment is established. The Principal Sponsor may require of the Participant or SERP beneficiary information that it reasonably determines is required for it to
perform its obligations hereunder. At the earliest time that a Participant may be entitled to receive benefits under this SERP, the Principal Sponsor shall notify the Participant of that entitlement
and of the procedures for paying benefits hereunder. Without regard to the foregoing, a Participant may request payment of benefits under this SERP. The Principal Sponsor shall, upon receipt of such
request expeditiously process the payment of benefits hereunder. 

        8.2.    Original Claim.    Any person may file with the Principal Sponsor a written claim for benefits under the SERP.
Within thirty (30) days after the filing of such a claim, the Principal Sponsor shall notify the claimant in writing whether his or her claim is upheld or denied in whole or in part or shall
furnish the claimant a written notice describing specific special circumstances requiring a specified amount of additional time (but not more than sixty days from the date the claim was filed) to
reach a 

8

 

decision on the claim. If the claim is denied in whole or in part, the Principal Sponsor shall state in writing: 

	(a)
	the
specific reasons for the denial;

	(b)
	the
specific references to the pertinent provisions of this SERP on which the denial is based;

	(c)
	a
description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or
information is necessary; and

	(d)
	an
explanation of the claims review procedure set forth in this section. 

        8.3.    Claims Review Procedure.    Within sixty (60) days after receipt of notice that his or her claim has
been denied in whole or in part, the claimant may file with the Principal Sponsor a written request for a review and may, in conjunction therewith, submit written issues and comments. Within thirty
(30) days after the filing of such a request for review, the Principal Sponsor shall notify the claimant in writing whether, upon review, the claim was upheld or denied in whole or in part or
shall furnish the claimant a written notice describing specific special circumstances requiring a specified amount of additional time (but not more than sixty days from the date the request for review
was filed) to reach a decision on the request for review. 

        8.4.    General Rules.    

	(a)
	No
inquiry or question shall be deemed to be a claim or a request for a review of a denied claim unless made in accordance with the claims procedure.
The Principal Sponsor may require that any claim for benefits and any request for a review of a denied claim be filed on forms to be furnished by the Principal Sponsor upon request.

	(b)
	All
decisions on claims and on requests for a review of denied claims shall be made by the Principal Sponsor.

	(c)
	The
Principal Sponsor may, in its discretion, hold one or more hearings on a claim or a request for a review of a denied claim.

	(d)
	Claimants
may be represented by a lawyer or other representative (at their own expense). A claimant's representative shall be entitled to receive copies
of notices sent to the claimant.

	(e)
	The
decision of the Principal Sponsor on a claim and on a request for a review of a denied claim shall be served on the claimant in writing. If a
decision or notice is not received by a claimant within the time specified, the claim or request for a review of a denied claim shall be deemed to have been denied.

	(f)
	Prior
to filing a claim or a request for a review of a denied claim, the claimant or his or her representative shall have a reasonable opportunity to
review a copy of this SERP and all other pertinent documents in the possession of the Principal Sponsor.

	(g)
	The
Principal Sponsor may permanently or temporarily delegate all or a portion of its authority and responsibility under this Section 8 to a
committee or individual.

	(h)
	The
procedures and remedies herein are not exclusive. However, a claimant shall be required to exhaust these administrative remedies before commencing
litigation to recover benefits. If there is litigation regarding the benefits payable to or with respect to a Participant, determinations by the Principal Sponsor shall not be afforded any deference
and the matter shall be heard de novo. 

9

 

SECTION 9  

 CONSTRUCTION  

        9.1.    Defined Terms.    Words and phrases used in this SERP document with initial capital letters, which are defined
in the Pension Plan documents and which are not separately defined in this SERP document shall have the same meaning ascribed to them in the Pension Plan documents unless in the context in which they
are used it would be clearly inappropriate to do so. 

        9.2.    ERISA Status.    This SERP is adopted with the understanding that it is an unfunded plan maintained primarily
for the purpose of providing deferred compensation for a select group of management or
highly compensated employees as provided in section 201(2), section 301(3) and section 401(a)(1) of ERISA. Each provision shall be interpreted and administered accordingly. 

        9.3.    IRC Status.    This SERP is intended to be a nonqualified deferred compensation arrangement. The rules of
section 401(a) et. seq. of the Code shall not apply to this SERP. The rules of section 3121(v) and section 3306(r)(2) of the
Code shall apply to this SERP. 

        9.4.    Effect on Other Plans.    This SERP shall not alter, enlarge or diminish any person's employment rights or
obligations or rights or obligations under the Pension Plan, the Excess Plan or any other plan. It is specifically contemplated that the Pension Plan and Excess Plan could, from time to time, be
amended and possibly terminated. This SERP shall not preclude any such amendments or terminations. Although the Principal Sponsor is generally free to amend and terminate the Pension Plan and the
Excess Plan, no amendment or termination of the Pension Plan or the Excess Plan shall be effective as to a Participant to the extent the amendment or termination would have the effect of diminishing
the benefits payable to or with respect to the Participant under this SERP unless the Participant has affirmatively agreed in writing to such amendment or termination. 

        9.5.    Disqualification.    Notwithstanding any other provision of this SERP document or any election or designation
made under the SERP, any individual who feloniously and intentionally kills a Participant shall be deemed for all purposes of this SERP and all elections and designations made under this SERP to have
died before such Participant. A final judgment of conviction of felonious and intentional killing is conclusive for this purpose. In the absence of a conviction of felonious and intentional killing,
the Principal Sponsor shall determine whether the killing was felonious and intentional for this purpose. 

        9.6.    Rules of Document Construction.    Whenever appropriate, words used in the SERP document in the singular may
be read in the plural, or words used in the plural may be read in the singular; the masculine may include the feminine; and the words "hereof," "herein" or "hereunder" or other similar compounds of
the word "here" shall mean and refer to the entire SERP and not to any particular paragraph or Section of this SERP document unless the context clearly indicates to the contrary. The titles given to
the various Sections of this SERP document are inserted for convenience of reference only and are not part of this SERP document, and they shall not be considered in determining the purpose, meaning
or intent of any provision hereof. Notwithstanding any thing apparently to the contrary contained in this SERP document, the SERP document shall be construed and administered to prevent the
duplication of benefits provided under this SERP and any other qualified or nonqualified plan maintained in whole or in part by the Principal Sponsor. 

        9.7.    References to Laws.    Any reference in this SERP document to a statute or regulation shall be considered also
to mean and refer to any subsequent amendment or replacement of that statute or regulation. 

        9.8.    Effect on Employment.    Neither the terms of this SERP document nor the benefits hereunder nor the
continuance thereof shall be a term of the employment of any employee. The terms 

10

 

of this SERP document shall not give any employee the right to be retained in the employment of any Employer. 

        9.9.    Choice of Law.    This SERP document has been executed and delivered in the State of Minnesota and shall,
except to the extent that federal law is controlling, be construed and enforced in accordance with the laws of the State of Minnesota. 

11

   Ancillary Agreement

under  

 NORTHWEST AIRLINES

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

(2001 Restatement)  

        THIS AGREEMENT, Made and entered into by and between Northwest Airlines, Inc., a Minnesota corporation,
(the "Employer") and Richard H. Anderson (the "Participant"). 

        WHEREAS,
Employer has established a nonqualified plan of deferred compensation for the benefit of a group of management employees currently set forth in a document entitled "Northwest
Airlines Supplemental Executive Retirement Plan (2001 Restatement)" (hereinafter the "2001 SERP Restatement"); and 

        WHEREAS,
The Plan maintained pursuant to the 2001 SERP Restatement (sometimes referred to as the "SERP") contemplates that certain terms and provisions may be varied pursuant to a
separate written agreement by and between Employer and Participant known as an "Ancillary Agreement"; and 

        WHEREAS,
The Employer and the Participant agree that upon executing this Ancillary Agreement, Participant's SERP benefit will be computed under and governed solely by Part B of
the 2001 SERP Restatement and not Part A of the 2001 SERP Restatement. 

        NOW THEREFORE, IT IS HEREBY AGREED, By and between Employer and Participant as follows: 

	1)
	DATE OF PARTICIPATION. Participant's effective date for the commencement of SERP participation is March 24, 1994.

	2)
	PRIOR SERP AGREEMENT. Under a prior Ancillary Agreement, Participant's actual Benefit Service was increased by two additional deemed
years of Benefit Service for each actual year of employment completed by Participant after March 23, 1994, (not to exceed ten years) as follows: 

	With Respect To The Participant's Employment During The Following Periods:
	 	Additional Deemed Benefit Service Already Earned

	March 24, 1994 to March 23, 1995	 	2
	March 24, 1995 to March 23, 1996	 	2
	March 24, 1996 to March 23, 1997	 	2
	March 24, 1997 to March 23, 1998	 	2
	March 24, 1998 to March 23, 1999	 	2
	 	 	

	 	Total Already Earned	 	10

	3)
	NEW SERP AGREEMENT. Pursuant to Section 2.6 of the Management Compensation Agreement dated as of June 28, 2001 between the
Employer and the Participant (the "Compensation Agreement") in addition to the deemed Benefit Service awarded under paragraph 2 above, Participant's actual Benefit Service shall be increased by
one additional deemed year of Benefit 

12

 

Service
for each actual year of employment completed by the Participant after April 1, 2001, (not to exceed five additional deemed years of Benefit Service) as follows: 

	With Respect To The Participant's Employment During The Following Periods:
	 	Additional Deemed Benefit Service Which May Be Earned

	April 1, 2001 to March 31, 2002	 	1
	April 1, 2002 to March 31, 2003	 	1
	April 1, 2003 to March 31, 2004	 	1
	April 1, 2004 to March 31, 2005	 	1
	April 1, 2005 to March 31, 2006	 	1

Pursuant
to Section 5.2(b)(ii) of the Compensation Agreement, in the event the Participant's employment is terminated by the Employer other than for Cause (as defined in the Compensation
Agreement), as a result of death or Disability (as defined in the Compensation Agreement), or by the Participant for Good Reason (as defined in the Compensation Agreement), Participant's actual
Benefit Service as of the effective date of such termination of employment shall be increased in an amount equal to the excess, if any, of (i) five over (ii) the number of additional
years of Benefit Service that the Participant has accrued as of such termination date pursuant to this paragraph 3. 

	4)
	SPECIAL ARRANGEMENTS. For the purpose of computing Participant's benefits under Part B of the 2001 SERP, the following special
rules shall apply.

	a)
	FAE Formula. For the purposes of computing Participant's Final Average Earnings Annuity pursuant to
Section 4.1.1(a)(1)(iii) of the 2001 SERP Restatement, Participant's actual Benefit Service shall be increased by the deemed years of Benefit Service earned under paragraphs 2 and 3
above.

	b)
	CB Initial Account. Participant's initial account balance for purposes of Section 4.1.1(b)(1)(iii) of Part B of the
2001 SERP has been computed on a basis consistent with the Pension Plan formula for computing initial account balances and, where appropriate, takes into account all years of Participant's deemed
service attributable to periods before January 1, 2001.

	c)
	CB Increased Pay Credit Percentage. For the purpose of determining Participant's applicable pay credit percentage pursuant to
Section 4.1.1(b)(1)(iii) of the 2001 SERP Restatement the Participant shall receive (during the period from April 1, 2001 through March 31, 2006) two times the pay credit
that the
Participant would otherwise be entitled to receive (i.e., the "actual" plus one "deemed"). Therefore, the Participant's applicable pay credit percentage during the following periods shall be as
follows: 

	With respect to Participant's Earnings attributable to the following periods:
	 	Participant's applicable pay credit percentage shall be:
	 
	April 1, 2001 to March 31, 2002	 	24	%
	April 1, 2002 to September 30, 2002	 	24	%
	October 1, 2002 to March 31, 2003	 	30	%
	April 1, 2003 to March 31, 2004	 	30	%
	April 1, 2004 to March 31, 2005	 	30	%
	April 1, 2005 to February 28, 2006	 	30	%
	March 1, 2006 to March 31, 2006	 	36	%

	d)
	CB Generally Applicable Pay Credit Percentage. For the purpose of determining Participant's applicable pay credit percentage pursuant to
Section 4.1.1(b)(1)(iii) of the 2001 SERP Restatement during the period from January 1, 2001 through March 31, 2001 and periods subsequent to March 31, 2006,
Participant's applicable pay credit percentage shall be 

13

 

determined
under the generally applicable rules of the Pension Plan; provided, however, that in applying those rules, Participant's actual Benefit Service shall be increased by all additional earned
deemed years of Benefit Service. 

	5)
	CONSENT TO AMENDMENT. Pursuant to the provisions of Section 6.1 of the "Northwest Airlines, Inc. Supplemental Executive
Retirement Plan (1995 Statement)," Participant consents to the amendments of that document that are embodied in the restatement of that document previously adopted by Northwest Airlines, Inc.
known as the "Northwest Airlines Supplemental Executive Retirement Plan (2001 SERP Restatement)." Participant acknowledges prior receipt of a copy of that document. Participant acknowledges that the
benefits payable to or with respect to Participant under the SERP shall be governed exclusively by Part B of the 2001 SERP Restatement.

	6)
	INTEGRATION. This agreement is intended to be and is an Ancillary Agreement as that term is used in the SERP. Insofar as this Ancillary
Agreement relates to Participant's entitlement under the SERP, this Ancillary Agreement represents the entire agreement of Participant and Employer and supercedes all prior agreements and
understandings, written or otherwise. In no event shall this Ancillary Agreement and any other agreement be construed or interpreted to provide duplicate benefits. 

        IN
WITNESS WHEREOF, Employer and Participant have executed this Ancillary Agreement as of October 25, 2001. 

	NORTHWEST AIRLINES, INC.	 	PARTICIPANT
	

 Gary L. Wilson

Chairman of the Board	
 	

 Richard H. Anderson

14

 
Ancillary Agreement

under  

 NORTHWEST AIRLINES

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

(2001 Restatement)  

        THIS AGREEMENT, Made and entered into by and between Northwest Airlines, Inc., a Minnesota corporation,
(the "Employer") and Douglas M. Steenland (the "Participant"). 

        WHEREAS,
Employer has established a nonqualified plan of deferred compensation for the benefit of a group of management employees currently set forth in a document entitled "Northwest
Airlines
Supplemental Executive Retirement Plan (2001 Restatement)" (hereinafter the "2001 SERP Restatement"); and 

        WHEREAS,
The Plan maintained pursuant to the 2001 SERP Restatement (sometimes referred to as the "SERP") contemplates that certain terms and provisions may be varied pursuant to a
separate written agreement by and between Employer and Participant known as an "Ancillary Agreement"; and 

        WHEREAS,
The Employer and the Participant agree that upon executing this Ancillary Agreement, Participant's SERP benefit will be computed under and governed solely by Part B of
the 2001 SERP Restatement and not Part A of the 2001 SERP Restatement. 

        NOW THEREFORE, IT IS HEREBY AGREED, By and between Employer and Participant as follows: 

	7)
	DATE OF PARTICIPATION. Participant's effective date for the commencement of SERP participation is March 24, 1994.

	8)
	PRIOR SERP AGREEMENT. Under a prior Ancillary Agreement, Participant's actual Benefit Service was increased by two additional deemed
years of Benefit Service for each actual year of employment completed by Participant after March 23, 1994, (not to exceed ten years) as follows: 

	With Respect To The Participant's Employment During The Following Periods:
	 	Additional Deemed Benefit Service Already Earned

	March 24, 1994 to March 23, 1995	 	2
	March 24, 1995 to March 23, 1996	 	2
	March 24, 1996 to March 23, 1997	 	2
	March 24, 1997 to March 23, 1998	 	2
	March 24, 1998 to March 23, 1999	 	2
	 	 	

	 	Total Already Earned	 	10

	9)
	NEW SERP AGREEMENT. Pursuant to Section 2.6 of the Management Compensation Agreement dated as of June 28, 2001 between the
Employer and the Participant (the "Compensation Agreement") in addition to the deemed Benefit Service awarded under paragraph 2 above, Participant's actual Benefit Service shall be increased by
one additional deemed year of Benefit Service for each actual year of employment completed by the Participant after April 1, 2001, (not to exceed five additional deemed years of Benefit
Service) as follows: 

	With Respect To The Participant's Employment During The Following Periods:
	 	Additional Deemed Benefit Service Which May Be Earned

	April 1, 2001 to March 31, 2002	 	1
	April 1, 2002 to March 31, 2003	 	1
	April 1, 2003 to March 31, 2004	 	1
	April 1, 2004 to March 31, 2005	 	1
	April 1, 2005 to March 31, 2006	 	1

15

 

        Pursuant
to Section 5.2(b)(ii) of the Compensation Agreement, in the event the Participant's employment is terminated by the Employer other than for Cause (as defined in
the Compensation Agreement), as a result of death or Disability (as defined in the Compensation Agreement), or by the Participant for Good Reason (as defined in the Compensation Agreement),
Participant's actual Benefit Service as of the effective date of such termination of employment shall be increased in an amount equal to the excess, if any, of (i) five over (ii) the
number of additional years of Benefit Service that the Participant has accrued as of such termination date pursuant to this paragraph 3. 

	10)
	SPECIAL ARRANGEMENTS. For the purpose of computing Participant's benefits under Part B of the 2001 SERP, the following special
rules shall apply.

	a)
	FAE Formula. For the purposes of computing Participant's Final Average Earnings Annuity pursuant to
Section 4.1.1(a)(1)(iii) of the 2001 SERP Restatement, Participant's actual Benefit Service shall be increased by the deemed years of Benefit Service earned under paragraphs 2 and 3
above.

	b)
	CB Initial Account. Participant's initial account balance for purposes of Section 4.1.1(b)(1)(iii) of Part B of the
2001 SERP has been computed on a basis consistent with the Pension Plan formula for computing initial account balances and, where appropriate, takes into account all years of Participant's deemed
service attributable to periods before January 1, 2001.

	c)
	CB Increased Pay Credit Percentage. For the purpose of determining Participant's applicable pay credit percentage pursuant to
Section 4.1.1(b)(1)(iii) of the 2001 SERP Restatement the Participant shall receive (during the period from April 1, 2001 through March 31, 2006) two times the pay credit
that the Participant would otherwise be entitled to receive (i.e., the "actual" plus one "deemed"). Therefore, the Participant's applicable pay credit percentage during the following periods shall be
as follows: 

	With respect to Participant's Earnings attributable to the following periods:
	 	Participant's applicable pay credit percentage shall be:
	 
	April 1, 2001 to August 31, 2001	 	24	%
	September 1, 2001 to March 31, 2002	 	30	%
	April 1, 2002 to March 31, 2003	 	30	%
	April 1, 2003 to March 31, 2004	 	30	%
	April 1, 2004 to February 28, 2005	 	30	%
	March 1, 2005 to March 31, 2005	 	36	%
	April 1, 2005 to March 31, 2006	 	36	%

	d)
	CB Generally Applicable Pay Credit Percentage. For the purpose of determining Participant's applicable pay credit percentage pursuant to
Section 4.1.1(b)(1)(iii) of the 2001 SERP Restatement during the period from January 1, 2001 through March 31, 2001 and periods subsequent to March 31, 2006,
Participant's applicable pay credit percentage shall be determined under the generally applicable rules of the Pension Plan; provided, however, that in applying those rules, Participant's actual
Benefit Service shall be increased by all additional earned deemed years of Benefit Service. 

	11)
	CONSENT TO AMENDMENT. Pursuant to the provisions of Section 6.1 of the "Northwest Airlines, Inc. Supplemental Executive
Retirement Plan (1995 Statement)," Participant consents to the amendments of that document that are embodied in the restatement of that document previously adopted by Northwest Airlines, Inc.
known as the "Northwest Airlines Supplemental Executive
Retirement Plan (2001 SERP Restatement)." Participant acknowledges prior receipt of a copy of that document. Participant acknowledges that the benefits payable to or with respect to 

16

 

Participant
under the SERP shall be governed exclusively by Part B of the 2001 SERP Restatement. 

	12)
	INTEGRATION. This agreement is intended to be and is an Ancillary Agreement as that term is used in the SERP. Insofar as this Ancillary
Agreement relates to Participant's entitlement under the SERP, this Ancillary Agreement represents the entire agreement of Participant and Employer and supercedes all prior agreements and
understandings, written or otherwise. In no event shall this Ancillary Agreement and any other agreement be construed or interpreted to provide duplicate benefits. 

        IN
WITNESS WHEREOF, Employer and Participant have executed this Ancillary Agreement as of October 25, 2001. 

	NORTHWEST AIRLINES, INC.	 	PARTICIPANT
	

 Richard H. Anderson

Chief Executive Officer	
 	

 Douglas M. Steenland

17

 
Ancillary Agreement

under  

 NORTHWEST AIRLINES

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

(2001 Restatement)  

        THIS AGREEMENT, Made and entered into by and between Northwest Airlines, Inc., a Minnesota corporation,
(the "Employer") and Mickey P. Foret (the "Participant"). 

        WHEREAS,
Employer has established a nonqualified plan of deferred compensation for the benefit of a group of management employees currently set forth in a document entitled "Northwest
Airlines Supplemental Executive Retirement Plan (2001 Restatement)" (hereinafter the "2001 SERP Restatement"); and 

        WHEREAS,
The Plan maintained pursuant to the 2001 SERP Restatement (sometimes referred to as the "SERP") contemplates that certain terms and provisions may be varied pursuant to a
separate written agreement by and between Employer and Participant known as an "Ancillary Agreement"; and 

        WHEREAS,
The Employer and the Participant agree that upon executing this Ancillary Agreement, Participant's SERP benefit will be computed under and governed solely by Part B of
the 2001 SERP Restatement and not Part A of the 2001 SERP Restatement. 

        NOW THEREFORE, IT IS HEREBY AGREED, By and between Employer and Participant as follows: 

	13)
	DATE OF PARTICIPATION. Participant's effective date for the commencement of SERP participation is May 11, 1998.

	14)
	PRIOR SERP AGREEMENT. Employer and Participant agree that as of April 1, 2001, Participant has 181/2 years of
Benefit Service consisting of 61/2 years of Benefit Service under the Qualified and Excess Pension Plans and 12 years of deemed Benefit Service under the SERP. Employer and
Participant further agree that on April 30, 2001, Employer will credit to Participant's SERP cash balance account an amount equal to $454,500.00.

	15)
	NEW SERP AGREEMENT. Pursuant to Section 5 of the Letter Agreement dated as of October 23, 2002 between the Employer and
the Participant (the "Letter Agreement") in addition to the deemed Benefit Service awarded under paragraph 2 above, Participant's actual Benefit Service shall be increased
by two additional deemed years of Benefit Service for each actual year of employment completed by the Participant commencing on April 1, 2001, (not to exceed eight additional deemed years of
Benefit Service) as follows: 

	With Respect To The Participant's Employment During The Following Periods:
	 	Additional Deemed Benefit Service Which May Be Earned

	April 1, 2001 to March 31, 2002	 	2
	April 1, 2002 to March 31, 2003	 	2
	April 1, 2003 to March 31, 2004	 	2
	April 1, 2004 to March 31, 2005	 	2

	16)
	SPECIAL ARRANGEMENTS. For the purpose of computing Participant's benefits under Part B of the 2001 SERP, the following special
rules shall apply.

	a)
	FAE Formula. For the purposes of computing Participant's Final Average Earnings Annuity pursuant to
Section 4.1.1(a)(1)(iii) of the 2001 SERP Restatement, Participant's actual Benefit Service shall be increased by the deemed years of Benefit Service earned under paragraphs 2 and 3
above. 

18

 

	b)
	CB Initial Account. Participant's initial account balance for purposes of Section 4.1.1(b)(1)(iii) of Part B of the
2001 SERP has been computed on a basis consistent with the Pension Plan formula for computing initial account balances and, where appropriate, takes into account all years of Participant's deemed
service attributable to periods before January 1, 2001.

	c)
	CB Increased Pay Credit Percentage. For the purpose of determining Participant's applicable pay credit percentage pursuant to
Section 4.1.1(b)(1)(iii) of the 2001 SERP Restatement the Participant shall receive (during the period from April 1, 2001 through March 31, 2005) three times the pay credit
that the Participant would otherwise be entitled to receive (i.e., the "actual" plus two "deemed"). Therefore, the Participant's applicable pay credit percentage during the following periods shall be
as follows: 

	With respect to Participant's Earnings attributable to the following periods:
	 	Participant's applicable pay credit percentage shall be:
	 
	April 1, 2001 to March 31, 2002	 	45	%
	April 1, 2002 to February 28, 2003	 	45	%
	March 1, 2003 to March 31, 2003	 	54	%
	April 1, 2003 to March 31, 2004	 	54	%
	April 1, 2004 to March 31, 2005	 	54	%

	d)
	CB Generally Applicable Pay Credit Percentage. For the purpose of determining Participant's applicable pay credit percentage pursuant to
Section 4.1.1(b)(1)(iii) of the 2001 SERP Restatement during periods subsequent to March 31, 2005, Participant's applicable pay credit percentage shall be determined under the
generally applicable rules of the Pension Plan; provided, however, that in applying those rules, Participant's actual Benefit Service shall be increased by all additional earned deemed years of
Benefit Service. 

	17)
	CONSENT TO AMENDMENT. Pursuant to the provisions of Section 6.1 of the "Northwest Airlines, Inc. Supplemental Executive
Retirement Plan (1995 Statement)," Participant consents to the amendments of that document that are embodied in the restatement of that document previously adopted by Northwest Airlines, Inc.
known as the "Northwest Airlines Supplemental Executive Retirement Plan (2001 SERP Restatement)." Participant acknowledges prior receipt of a copy of that document. Participant acknowledges that the
benefits payable to or with respect to Participant under the SERP shall be governed exclusively by Part B of the 2001 SERP Restatement.

	18)
	INTEGRATION. This agreement is intended to be and is an Ancillary Agreement as that term is used in the SERP. Insofar as this Ancillary
Agreement relates to Participant's entitlement under the SERP, this Ancillary Agreement represents the entire agreement of Participant and Employer and supercedes all prior agreements and
understandings, written or otherwise. In no event shall this Ancillary Agreement and any other agreement be construed or interpreted to provide duplicate benefits. 

        IN
WITNESS WHEREOF, Employer and Participant have executed this Ancillary Agreement as of October 25, 2001. 

	NORTHWEST AIRLINES, INC.	 	PARTICIPANT
	

 Richard H. Anderson,

Chief Executive Officer	
 	

 Mickey P. Foret

19

 
Ancillary Agreement

under  

 NORTHWEST AIRLINES

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

(2001 Restatement)  

        THIS AGREEMENT, Made and entered into by and between Northwest Airlines, Inc., a Minnesota corporation,
(the "Employer") and J. Timothy Griffin (the "Participant"). 

        WHEREAS,
Employer has established a nonqualified plan of deferred compensation for the benefit of a select group of management or highly compensated employees currently set forth in a
document entitled "Northwest Airlines Supplemental Executive Retirement Plan (2001 Restatement)" (hereinafter the "2001 SERP Restatement"); and 

        WHEREAS,
The Plan maintained pursuant to the 2001 SERP Restatement (sometimes referred to as the "SERP") contemplates that certain terms and provisions may be varied pursuant to a
separate written agreement by and between Employer and Participant known as an "Ancillary Agreement"; and 

        WHEREAS,
The Employer and the Participant agree that upon executing this Ancillary Agreement, Participant's SERP benefit will be computed under and governed solely by Part B of
the 2001 SERP Restatement and not Part A of the 2001 SERP Restatement. 

        NOW THEREFORE, IT IS HEREBY AGREED, By and between Employer and Participant as follows: 

	19)
	DATE OF PARTICIPATION. Participant's effective date for the commencement of SERP participation is June 1, 2001.

	20)
	SPECIAL ARRANGEMENTS. For the purpose of computing Participant's benefits under the SERP, the following special rules shall apply.

	a)
	FAE Formula. For the purposes of computing Participant's Final Average Earnings Annuity pursuant to
Section 4.1.1(a)(1)(iii) of the 2001 SERP Restatement, Participant's actual Benefit Service shall be increased annually by two (2) additional deemed years of Benefit Service for
each actual year of employment completed by the Participant after the Participant's effective date for the commencement of SERP participation (not to exceed ten additional deemed years over and above
the actual Benefit Service).

	b)
	CB Increased Pay Credit Percentage. For the purpose of determining Participant's applicable pay credit percentage pursuant to
Section 4.1.1(b)(1)(iii) of the 2001 SERP Restatement the Participant shall receive (during the period from June 1, 2001 through May 31, 2006) three times the pay credit
that the Participant would otherwise be entitled to receive (i.e., the "actual" plus two "deemed"). Therefore, the Participant's applicable pay credit percentage during the following periods shall be
as follows: 

	With respect to Participant's Earnings attributable to the following periods:
	 	Participant's applicable pay credit percentage shall be:
	 
	June 1, 2001 to April 30, 2002	 	30	%
	May 1, 2002 to May 31, 2002	 	36	%
	June 1, 2002 to May 31, 2003	 	36	%
	June 1, 2003 to May 31, 2004	 	36	%
	June 1, 2004 to May 31, 2005	 	45	%
	June 1, 2005 to May 31, 2006	 	45	%

	c)
	CB Generally Applicable Pay Credit Percentage. For the purpose of determining Participant's applicable pay credit percentage pursuant to
Section 4.1.1(b)(1)(iii) of the 2001 SERP 

20

 

Restatement
during periods subsequent to May 31, 2006, Participant's applicable pay credit percentage shall be determined under the generally applicable rules of the Pension Plan; provided,
however, that in applying those rules, Participant's actual Benefit Service shall be increased by all additional deemed years of Benefit Service. 

	21)
	CONSENT TO AMENDMENT. Pursuant to the provisions of Section 6.1 of the "Northwest Airlines, Inc. Supplemental Executive
Retirement Plan (1995 Statement)," Participant consents to the amendments of that document that are embodied in the restatement of that document previously adopted by Northwest Airlines, Inc.
known as the "Northwest Airlines Supplemental Executive Retirement Plan (2001 SERP Restatement)." Participant acknowledges prior receipt of a copy of that document. Participant acknowledges that the
benefits payable to or with respect to Participant under the SERP shall be governed exclusively by Part B of the 2001 SERP Restatement.

	22)
	INTEGRATION. This agreement is intended to be and is an Ancillary Agreement as that term is used in the SERP. Insofar as this Ancillary
Agreement relates to Participant's entitlement under the SERP, this Ancillary Agreement represents the entire agreement of Participant and Employer and supercedes all prior agreements and
understandings, written or otherwise. In no event shall this Ancillary Agreement and any other agreement be construed or interpreted to provide duplicate benefits. 

        IN
WITNESS WHEREOF, Employer and Participant have executed this Ancillary Agreement as of October 25, 2001. 

	NORTHWEST AIRLINES, INC.	 	PARTICIPANT
	

 Richard H. Anderson,

Chief Executive Officer	
 	

 J. Timothy Griffin

21

 
Ancillary Agreement

under  

 NORTHWEST AIRLINES

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

(2001 Restatement)  

        THIS AGREEMENT, Made and entered into by and between Northwest Airlines, Inc., a Minnesota corporation,
(the "Employer") and Philip C. Haan (the "Participant"). 

        WHEREAS,
Employer has established a nonqualified plan of deferred compensation for the benefit of a select group of management or highly compensated employees currently set forth in a
document entitled "Northwest Airlines Supplemental Executive Retirement Plan (2001 Restatement)" (hereinafter the "2001 SERP Restatement"); and 

        WHEREAS,
The Plan maintained pursuant to the 2001 SERP Restatement (sometimes referred to as the "SERP") contemplates that certain terms and provisions may be varied pursuant to a
separate written agreement by and between Employer and Participant known as an "Ancillary Agreement"; and 

        WHEREAS,
The Employer and the Participant agree that upon executing this Ancillary Agreement, Participant's SERP benefit will be computed under and governed solely by Part B of
the 2001 SERP Restatement and not Part A of the 2001 SERP Restatement. 

        NOW THEREFORE, IT IS HEREBY AGREED, By and between Employer and Participant as follows: 

	23)
	DATE OF PARTICIPATION. Participant's effective date for the commencement of SERP participation is June 1, 2001.

	24)
	SPECIAL ARRANGEMENTS. For the purpose of computing Participant's benefits under the SERP, the following special rules shall apply.

	a)
	FAE Formula. For the purposes of computing Participant's Final Average Earnings Annuity pursuant to
Section 4.1.1(a)(1)(iii) of the 2001 SERP Restatement, Participant's actual Benefit Service shall be increased annually by two (2) additional deemed years of Benefit Service for
each actual year of employment completed by the Participant after the Participant's effective date for the commencement of SERP participation (not to exceed ten additional deemed years over and above
the actual Benefit Service).

	b)
	CB Increased Pay Credit Percentage. For the purpose of determining Participant's applicable pay credit percentage pursuant to
Section 4.1.1(b)(1)(iii) of the 2001 SERP Restatement the Participant shall receive (during the period from June 1, 2001 through May 31, 2006) three times the pay credit
that the Participant would otherwise be entitled to receive (i.e., the "actual" plus two "deemed"). Therefore, the Participant's applicable pay credit percentage during the following periods shall be
as follows: 

	With respect to Participant's Earnings attributable to the following periods:
	 	Participant's applicable pay credit percentage shall be:
	 
	June 1, 2001 to May 31, 2002	 	30	%
	June 1, 2002 to October 31, 2002	 	30	%
	November 1, 2002 to May 31, 2003	 	36	%
	June 1, 2003 to May 31, 2004	 	36	%
	June 1, 2004 to April 30, 2005	 	36	%
	May 1, 2005 to May 31, 2005	 	45	%
	June 1, 2005 to May 31, 2006	 	45	%

22

 

	c)
	CB Generally Applicable Pay Credit Percentage. For the purpose of determining Participant's applicable pay credit percentage pursuant to
Section 4.1.1(b)(1)(iii) of the 2001 SERP Restatement during periods subsequent to May 31, 2006, Participant's applicable pay credit percentage shall be determined under the
generally applicable rules of the Pension Plan; provided, however, that in applying those rules, Participant's actual Benefit Service shall be increased by all additional deemed years of Benefit
Service. 

	25)
	CONSENT TO AMENDMENT. Pursuant to the provisions of Section 6.1 of the "Northwest Airlines, Inc. Supplemental Executive
Retirement Plan (1995 Statement)," Participant consents to the amendments of that document that are embodied in the restatement of that document previously adopted by Northwest Airlines, Inc.
known as the "Northwest Airlines Supplemental Executive Retirement Plan (2001 SERP Restatement)." Participant acknowledges prior receipt of a copy of that document. Participant acknowledges that the
benefits payable to or with respect to Participant under the SERP shall be governed exclusively by Part B of the 2001 SERP Restatement.

	26)
	INTEGRATION. This agreement is intended to be and is an Ancillary Agreement as that term is used in the SERP. Insofar as this Ancillary
Agreement relates to Participant's entitlement under the SERP, this Ancillary Agreement represents the entire agreement of Participant and Employer and supercedes all prior agreements and
understandings, written or otherwise. In no event shall this Ancillary Agreement and any other agreement be construed or interpreted to provide duplicate benefits. 

        IN
WITNESS WHEREOF, Employer and Participant have executed this Ancillary Agreement as of October 25, 2001. 

	NORTHWEST AIRLINES, INC.	 	PARTICIPANT
	

 Richard H. Anderson,

Chief Executive Officer	
 	

 Philip C. Haan

23

QuickLinks

Exhibit 10.24

NORTHWEST AIRLINES SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (2001 Restatement)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00036-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00036-of-00352.parquet"}]]