Originally Posted by Icedeemon

Paragraph B. Of the LOA:


B. The Association agrees that the Company-wide changes to profit sharing, as applicable to the Pilots, do not violate any provisions of any Pilot Employment Agreement, the Flight Scheduling Manual or any other applicable agreement between the Pilots and/or the Association and the Company. The Company agrees that there will be no further changes in the profit sharing pay-out percentage pool of JetBlue’s profit (as defined in the Plan) as applied to Pilots pending negotiation of the Parties’ initial collective bargaining agreement.

From the Urgent News blast Mail on October 12:

We would make several points for those considering the terms of the LOA;
 Our PEAs explicitly state that profit sharing is at the sole discretion of the Company (see PEA language below). Therefore, we have no contractual or legal basis to challenge the change. However, signing of this LOA secures a contractual protection that no other changes will occur.