The basis for each individuals award is as follows: Individual employee’s annual compensation in the year in which the PTIX was earned as a percentage of total annual compensation for that year for all eligible employees. The Association will have the right to review the methodology and calculation of awards prior to such awards.

This is from the contract.

The definition of "annual compensation" is also in the contract: “Annual compensation” for purposes of the profit sharing plan, means an employee’s gross earnings during the profit sharing plan year, including any sick and vacation pay (whether paid by the Company or from a disability and survivor trust), but excluding: a) expense reimbursements, b) expense allowances, c) income required to be imputed to the employee for any reason pursuant to federal, state or local law, d) profit sharing awards, e) earnings from any other incentive compensation program, f) Company contributions to a retirement plan, g) disability payments, h) income from the grant, vesting, exercise or sale of Delta stock or Delta stock options, i) income relating to, or resulting from, bankruptcy claims, notes, or other securities, j) medical plan payments and k) severance payments. In addition, annual compensation for the purposes of the profit sharing plan includes pilot furlough pay.

Denny