Document:

Deferred Stock Unit Award Agreement for Samuel Ramsey

 Exhibit 10.26 

 

 

 GMAC Inc. 
 200 Renaissance Center, M/C482-B14-D46, Detroit, MI. 48265 
 October 22, 2009 
  

	Re:	GMAC Inc. Deferred Stock Units  

 Dear
Sam: 
 I hereby inform you that your annualized base compensation for calendar year 2009 has been set at $4,937,500. A portion of your base
compensation, $4,437,500, will be deferred and invested in Deferred Stock Units (“DSU”) as described below. Because of the timing of US Treasury approval of this form of compensation, you will receive any previously unpaid annualized
amounts pro rata over the remaining 2009 pay periods. Base compensation for calendar year 2010 will be paid ratably over 26 pay periods. 
 This
form of compensation remains subject to revision at any time in order to comply with any Federal law or regulation that may govern executive compensation, including but not limited to Title VII of the American Recovery and Reinvestment Act of 2009,
the Interim final Rules issued pursuant to this law, and the Troubled Asset Relief Program (collectively the “TARP Rules”). Additionally, the components of your total compensation, as well as the allocation of your total compensation among
the various components may be prospectively adjusted at any time at GMAC’s sole discretion. 
 As a condition of receiving DSU
compensation, you are required to forfeit any 2009 RSU Award you may have previously received. Investment in DSUs will occur each payroll cycle. The date of payment will also constitute the “Investment Date”. The value a DSU on the
Investment Date will be based on the value of a Restricted Stock Unit on the Investment Date (as defined in the Long Term Equity Compensation Incentive Plan or “LTECIP”). The value at the time of any payment (“Settlement Date”)
may differ, depending upon increases or decreases in GMAC’s value, as well as adjustments for recapitalization, merger, etc. as outlined in Section 6.2 of the LTECIP. 
 Unless otherwise specified in any plan document, DSUs will not determine any potential severance you may become eligible for. Rather, severance under any applicable plan will be determined based only upon
your direct cash compensation in effect prior to the date of this letter. 
 Subject to requirements of any Federal laws or regulations that may
govern executive compensation, including but not limited to the TARP Rules, settlement of your DSUs will be made as follows with each occurrence constituting a “Settlement Date”: 
  

	 	•	 	 For  1/3
 of each investment, on the first payroll following a date 24 months from Investment Date, or as otherwise may be permitted by the TARP Rules 

  

	 	•	 	 For  1/3
 of each investment, on the first payroll following a date 36 months from Investment Date, or as otherwise may be permitted by the TARP Rules 

  

	 	•	 	 For  1/3
 of each investment, on the first payroll following a date 48 months from Investment Date, or as otherwise may be permitted by the TARP Rules 

 For 2009 DSUs only, the Settlement Dates will occur over a similar three-year period but starting with the first payroll in January 2011. 

 Sam Ramsey 
 October 22, 2009 
 Page 2 of 2 
  

 These payments are not subject to forfeiture and will be made pursuant to this Settlement schedule,
regardless of your employment status. 
 By signing below, you acknowledge your understanding that your DSUs are subject to the rules
under Code Section 409A, and you agree and accept all risks (including increased taxes and penalties) resulting from Code Section 409A. You also agree to forfeit and waive all rights under any 2009 RSU Award you may have been previously
granted. In order to begin the payment process in the October 12, 2009 payroll period, your signature is required no later than October 27, 2009. 
 Please return your signed document to nancy.bechtel@gmacfs.com by October 27, 2009. 
  

	
	Sincerely yours,
	
	

	Anthony S. Marino
	 GMAC Group VP and Chief HR Officer

	 October 22, 2009

  

					
	 /S/ Samuel Ramsey
	 		 	 10/22/2009

	Signature	 		 	DateDeferred Stock Unit Award Agreement for Sanjay Gupta

 Exhibit 10.27 

 

 

 GMAC Inc. 
 200 Renaissance Center, M/C482-B14-D46, Detroit, MI. 48265 
 October 22, 2009 
 Sanjay Gupta 
  

	Re:	GMAC Inc. Deferred Stock Units  

 Dear
Sanjay: 
 I hereby inform you that your annualized base compensation for calendar year 2009 has been set at $2,708,333.00. A portion of your
base compensation, $2,208,333.00, will be deferred and invested in Deferred Stock Units (“DSU”) as described below. Because of the timing of US Treasury approval of this form of compensation, you will receive any previously unpaid
annualized amounts pro rata over the remaining 2009 pay periods. Base compensation for calendar year 2010 will be paid ratably over 26 pay periods. 
 This form of compensation remains subject to revision at any time in order to comply with any Federal law or regulation that may govern executive compensation, including but not limited to Title VII of the American Recovery and Reinvestment
Act of 2009, the Interim final Rules issued pursuant to this law, and the Troubled Asset Relief Program (collectively the “TARP Rules”). Additionally, the components of your total compensation, as well as the allocation of your total
compensation among the various components may be prospectively adjusted at any time at GMAC’s sole discretion. 
 As a condition of
receiving DSU compensation, you are required to forfeit any 2009 RSU Award you may have previously received. Investment in DSUs will occur each payroll cycle. The date of payment will also constitute the “Investment Date”. The value a DSU
on the Investment Date will be based on the value of a Restricted Stock Unit on the Investment Date (as defined in the Long Term Equity Compensation Incentive Plan or “LTECIP”). The value at the time of any payment (“Settlement
Date”) may differ, depending upon increases or decreases in GMAC’s value, as well as adjustments for recapitalization, merger, etc. as outlined in Section 6.2 of the LTECIP. 
 Unless otherwise specified in any plan document, DSUs will not determine any potential severance you may become eligible for. Rather, severance under any
applicable plan will be determined based only upon your direct cash compensation in effect prior to the date of this letter. 
 Subject to
requirements of any Federal laws or regulations that may govern executive compensation, including but not limited to the TARP Rules, settlement of your DSUs will be made as follows with each occurrence constituting a “Settlement Date”:

  

	 	•	 	 For  1/3
 of each investment, on the first payroll following a date 24 months from Investment Date, or as otherwise may be permitted by the TARP Rules 

  

	 	•	 	 For  1/3
 of each investment, on the first payroll following a date 36 months from Investment Date, or as otherwise may be permitted by the TARP Rules 

  

	 	•	 	 For  1/3
 of each investment, on the first payroll following a date 48 months from Investment Date, or as otherwise may be permitted by the TARP Rules 

 For 2009 DSUs only, the Settlement Dates will occur over a similar three-year period but starting with the first payroll in January 2011. 

 Sanjay Gupta 
 October 22, 2009 
 Page 2 of 2 
  

 These payments are not subject to forfeiture and will be made pursuant to this Settlement schedule,
regardless of your employment status. 
 By signing below, you acknowledge your understanding that your DSUs are subject to the rules
under Code Section 409A, and you agree and accept all risks (including increased taxes and penalties) resulting from Code Section 409A. You also agree to forfeit and waive all rights under any 2009 RSU Award you may have been previously
granted. In order to begin the payment process in the October 12, 2009 payroll period, your signature is required no later than October 27, 2009. 
  

	
	Sincerely yours,
	
	

	Anthony S. Marino
	 GMAC Group VP and Chief HR Officer

	 October 22, 2009

  

					
	 /S/ Sanjay Gupta
	 		 	 10/22/2009

	Signature	 		 	DateAward Agreement for Restricted Stock Units

 Exhibit 10.28 

 

 

 GMAC Long-Term Incentive Plan LLC 
 200 Renaissance Center, M/C482-B14-D46, Detroit, MI. 48265 
 January 28,
2010 
 Michael Carpenter 
 Re:
GMAC Long-Term Incentive Plan LLC Long-Term Equity Compensation Incentive Plan  
 Dear Michael: 
  

	1.	You have been granted an Award under the GMAC Long-Term Incentive Plan LLC Long-Term Equity Compensation Incentive Plan (the “Plan”). The grant date of your
Award is January 28, 2010 (“Grant Date”). A copy of the Plan is attached. Capitalized terms not defined in this Award Letter will have the meanings as defined in the Plan. 

  

	2.	Your Award is granted to you as a matter of separate inducement and is not in lieu of salary or other compensation for your services. By accepting this Award, you
hereby consent to any and all Plan amendments, vesting restrictions, and/or any revision to any other term or condition of this Award Letter that may be required to comply with any Federal law or regulation that may govern executive compensation,
including but not limited to Title VII of the American Recovery and Reinvestment Act of 2009 and the Troubled Asset Relief Program, whether such amendments, restrictions and/or revisions are applied prospectively or retrospectively to this or prior
Awards. 

  

	3.	Your Award will become effective after you have signed and dated one copy of this Award Letter and have returned the signed copy to: 

 Nancy Bechtel 
 Nancy.bechtel@gmacfs.com 
 (313) 656-3857 
 If you do not sign and return this Award Letter within 30 days of the date of this Award Letter, or February 27, 2010, then we
will assume that you do not want this Award, and this Award will be null and void and without any further force or effect. 
  

	4.	Subject to requirements of any Federal laws or regulations that may govern executive compensation, including but not limited to Title VII of the American Recovery and
Reinvestment Act of 2009 and the Troubled Asset Relief Program, your Award is an RSU Award with 0.632 bps. Because Title VII of the American Recovery and Reinvestment Act of 2009 currently limits the value of restricted stock that may be
awarded to certain executives, the Committee reserves the right to adjust down the bps percentage underlying this Award without your consent in order to comply with Federal law. If and when such an adjustment may be required, you will be notified in
writing. 

  

	5.	 Subject to requirements of any Federal laws or regulations that may govern executive compensation, including but not limited to Title VII of the
American Recovery and Reinvestment

  

 Page 1 of 2 

 Michael Carpenter 
 January 28, 2010 
  

	 	 
Act of 2009 and the Troubled Asset Relief Program, your RSU Award fully Vests on December 23, 2012 (“Vesting Date”), and will be Paid on the later of the following.

  

	 	•	 	 Within 75 days of the Vesting Date 

  

	 	•	 	 Within 75 days of and in equal percentages as GMAC repayment of TARP obligations in 25% increments. 

  

	6.	The Committee reserves the right to change the Vesting Date or payment dates shown above in order to comply with Federal Law. If and when such change may be required,
you will be notified in writing. 

  

	7.	If your employment is terminated due to death or Disability, then your entire Unvested Award will immediately Vest and be Paid within 75 days of this new Vesting Date.
You must designate a beneficiary where indicated in this Award Letter. Your failure to do so will result in any payments as a result of your death being made to your estate. Any subsequent change in your beneficiary designation must be made in
writing and communicated to the Plan Administrator at the address above. 

  

	8.	If your employment is terminated for any reason other than death or Disability, your entire unvested or unpaid Award will be immediately forfeited.

  

	9.	You understand and acknowledge that your Award is subject to the rules under Code Section 409A, and that you agree and accept all risks (including increased taxes
and penalties) resulting from Code Section 409A. 

  

	10.	Your FY 2009 Award will be subject to and governed by the terms and conditions of this Award Letter and the Plan. As a Participant, you agree to abide by the terms and
conditions of this Award Letter and the Plan. Please indicate your receipt of the Plan and your acceptance of and agreement to the terms and conditions of this Award Letter and the Plan, by signing in the indicated space below within 30 days of the
date of this Award Letter or by February 27, 2010. 

  

	
	Sincerely yours,
	
	

	Anthony S. Marino
	GMAC Group VP and Chief HR Officer
	January 28, 2010

 I ACCEPT AND AGREE TO BECOME
A PARTICIPANT IN THE GMAC LONG-TERM INCENTIVE PLAN LLC LONG-TERM EQUITY COMPENSATION INCENTIVE PLAN (“PLAN”) AND WILL ABIDE BY THE TERMS AND CONDITIONS OF THE PLAN AND THIS AWARD LETTER. 
  

			
	 /S/ Michael A. Carpenter
	 	 1/28/2010

	Participant Signature (Required)	 	Date (Required)
		
	 Michael A. Carpenter
	 	
	Printed Name (Required)	 	

  

 Page 2 of 2

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