EMPLOYMENT AGREEMENT dated as of August 14, 1997 (the "Effective Date") by and between Delta Air
Lines, Inc., a Delaware corporation (the "Company"), and Leo F. Mullin ("Executive").
WHEREAS, the Board of Directors of the Company (the "Board") desires to employ Executive as President and
Chief Executive Officer of the Company, and Executive desires to accept such employment; and
WHEREAS, the Company and Executive desire to enter into an agreement (this "Agreement") embodying the
terms of such employment;
NOW THEREFORE, in consideration of the mutual covenants and agreements of the parties set forth in this
Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto, intending to be legally bound, agree as follows (certain capitalized terms used
herein being defined in Article 9):
TERM OF AGREEMENT
SECTION 1.01. Initial Term. The term of this Agreement shall commence on the Effective Date and shall expire
on the fifth anniversary thereof (such term, together with any extension pursuant to Sections 1.02 or 1.03,
referred to hereinafter as the "Agreement Term").
SECTION 1.02. Extensions. As of the fifth anniversary of the Effective Date (provided Executive's employment
with the Company has not been previously terminated under Article 4), the Agreement Term shall automatically
be extended unless, at least twelve months prior to such anniversary, the Company has provided Executive with
written notice of the Company's intent that the Agreement Term not be so extended. If such notice has not been
timely provided by the Company, the Agreement Term shall, as of such fifth anniversary, be extended until the
expiration of twelve months from the date the Company shall have provided Executive with written notice of the
Company's intent that the Agreement Term be terminated.
SECTION 1.03. Automatic Extension Upon Change in Control. In the event that a Change in Control occ