The terms include that the board cannot cut his pay.
"Our track record does not say we like to cut pay," she said.
"That's because they cut our pay and benefits in half."
That, the union says, will cut annual pay from $23,000 to $10,000.
And the principals cut their pay to a quarter of what they had been making.
The new policy also makes it easier to cut pay in times of financial distress.
The company's profits were near a record high at the time it sought to cut the workers' pay.
Do I wait until they cut my pay in half and there is no buyout?
Q. Are you likely to take a big pay cut by moving to a nonprofit?
The union says it will strike if Delta is allowed to cut pay.
Wörterbuch für Finanzen