SEC Contract Filing

Filing Date: 2022-02-11

Document Content:
<DOCUMENT>
<TYPE>EX-10.49
<SEQUENCE>32
<FILENAME>ex1049-alaskaairgroupperfo.htm
<DESCRIPTION>EX-10.49
<TEXT>
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<title>Document</title></head><body><div id="i819483e1b2e64017956ea1ab09c44202_1"></div><div style="min-height:59.04pt;width:100%"><div><font style="color:#000000;font-family:'Book Antiqua',sans-serif;font-size:10pt;font-weight:400;line-height:232%">Exhibit A</font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Book Antiqua',sans-serif;font-size:10pt;font-weight:700;line-height:174%">ALASKA AIR GROUP PERFORMANCE BASED PAY PLAN</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Book Antiqua',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Book Antiqua',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(Amended November 4, 2021)</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Book Antiqua',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The Board of Directors (the &#8220;Board&#8221;) of Alaska Air Group, Inc. (the &#8220;Company&#8221;) has adopted the Performance-Based Pay Plan (the &#8220;Plan&#8221;) to reward employees of Alaska Airlines, Inc. (&#8220;Alaska&#8221;) and Horizon Air Industries, Inc. (&#8220;Horizon&#8221;). The Board has delegated authority to the Compensation and Leadership Development Committee (the &#8220;Committee&#8221;) to administer the Plan. The Performance Based Pay Award (&#8220;Award&#8221;) of each eligible Plan Participant will depend upon the degree to which the Company, Alaska and Horizon achieve the applicable performance goals and, if applicable, an award modifier, set by the Committee for each calendar year (a &#8220;Plan Year&#8221;) and upon the discretion of the Committee as explained below. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Book Antiqua',sans-serif;font-size:10pt;font-weight:400;line-height:100%">This Amended and Restated Plan is effective beginning with the 2022 Plan Year and each year thereafter until amended, restated or terminated, pursuant to Paragraph&#160;8. For the terms of Awards granted for any earlier Plan Year, refer to the version of the Plan in effect for the applicable Plan Year.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-36pt"><font style="color:#000000;font-family:'Book Antiqua',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1.&#160;&#160;&#160;&#160;ELIGIBILITY</font></div><div style="padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Book Antiqua',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Eligibility to participate in the Plan during a Plan Year is limited to all regular, temporary variable time and temporary pool U.S. and Canadian employees, and Mexico management employees, of Alaska and Horizon (&#8220;Eligible Employees&#8221;) who&#58;</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Book Antiqua',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(a) &#160;&#160;&#160;&#160;are employees of Alaska or Horizon on December 31 of the Plan Year for which the Award is being paid, or</font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font><br></font></div><div style="padding-left:72pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Book Antiqua',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(b) &#160;&#160;&#160;&#160;were employees during a portion of the Plan Year for which the Award is being paid but were not employees on December 31 because their employment ended due to retirement, disability or death. (For example, if an employee retires from Alaska or Horizon and his&#47;her last day of employment is on or between January 1 and December 31, 2022, he&#47;she would be eligible for an award for the 2022 Plan Year, but would not be eligible for an Award for the 2023 Plan Year because he&#47;she was not an employee during any part of the 2023 Plan Year, even though his&#47;her first day of retirement might be January 1, 2023.)</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Book Antiqua',sans-serif;font-size:10pt;font-weight:400;line-height:100%">For the sake of clarity, &#8220;Eligible Employees&#8221; shall not include temporary employees (other than variable time and temporary pool employees) or Mexico non-management employees of Alaska or Horizon, or employees of McGee Air Services, Inc.</font></div><div style="padding-left:36pt;text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Book Antiqua',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Eligible Employees who are on temporary medical leave, military leave, furlough, or company-approved leave of absence as of December 31 of the Plan Year shall remain eligible under the Plan. Unless otherwise provided in a separate agreement, an individual who is not employed with Alaska or Horizon on December 31of the Plan Year for any reason not set forth above, for example, resignation or termination (with or without cause), forfeits any Award under this Plan. In addition, employees terminated for cause, as determined by Alaska or Horizon, shall forfeit any Award under this Plan,