Exhibit 10.44
December 16, 2004
Mr. Scott Dickson
1925 Berkner Dr.
Richardson, TX 75081
Dear Scott:
I am very pleased to offer you the position of Senior Vice President and Chief Marketing Officer for Midwest Airlines, reporting to me. As we discussed, the pertinent details of your offer are as follows:
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A base salary of $17,083 per month ($205,000 annualized).
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Participation in the company' s Annual Incentive Plan (AIP) as determined by the Board of Directors of Midwest Air Group at its annual compensation meeting in February of each year. The AIP target bonus is 50% of the midpoint of the salary range for this position (i.e., 50% of $200,000). The award is based upon several performance factors and total company performance, prorated for the number of months worked during the year.
In recognition of the financial uncertainties affecting the industry, and to reinforce our commitment to having you join our team, we are offering you a minimum guaranteed AIP payout for your first year of employment.
2005
$25,000
25% of Target
$12,500 payable within 30 days of hire
$12,500 payable in February ' 06
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An award of 20,000 stock options at a strike price determined by the market price on your date of hire. Going forward, you will be eligible to participate in the Management Stock Option Plan [or relevant plan(s) as may be implemented], as determined and awarded on an annual basis by the Board of Directors.
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Relocation assistance as described in the enc ...
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