Originally Posted by The Moose

We are extremely pleased to announce that, based on pilot feedback and consistent with the strategic goals of the MEC, we have reached a tentative agreement with the company to modify the structure of our retention payments. The highlights include:

· Shortened retention periods (three 4-month retention periods each year instead of annual or semi-annual periods) with the first payment occurring after the retention period ending April 30, 2015.
· Increased total annual retention payments of $20,000 for each pilot (up from $15,000), divided into three even installments.
· Increased program duration of 4 years (up from 2 years).

All other aspects of the retention provisions will remain the same, i.e. pro-ration and the ability to direct the funds into your 401(k) account. The new Letter of Agreement also clarifies that the payouts will be made no later than the 23rd of the month following the end of each of the 4-month retention periods.

The proposed increases extend the retention program to a point at which all current pilots are projected to have upgraded and interviewed with Delta. Providing more money, sooner, and for a longer period of time, these improvements will make staying at Endeavor a more attractive and viable option for our current pilots. Additionally, these retention payments offer potential new hires a level of total annual compensation no other regional carrier can in this competitive job market. Most importantly, the fact that the payments include all of our pilots and future pilots on the same terms is another significant step in the right direction to build a bright future for our company.

We would like to thank CEO Ryan Gumm and his leadership team for advocating these pilot retention initiatives. Their continuing commitment to our collaborative working relationship benefits us all and establishes Endeavor Air as an industry leader.

We anticipate that the MEC will vote on this Letter of Agreement when they convene in Minneapolis next week. We encourage you to provide your representatives with feedback in advance of the meeting.