Document:

Employment Agreement between General Motors Europe, AG & Mr. Carl Peter Forster

 Exhibit 10(s) 
 EMPLOYMENT AGREEMENT 
 BETWEEN 
  

	(1)	GENERAL MOTORS EUROPE AG, 

 (hereinafter
“Company”) 
 and 
  

	(2)	Mr Carl Peter Forster 

 (hereinafter
“Mr Forster) 
 RECITAL 
 It is
intended to appoint Mr Forster to the position of “Vice President, General Motors” and “President, General Motors Europe”. 
 In order to
establish the conditions of the employment agreement in his future capacity as “Vice President, General Motors” and “President, General Motors Europe”, the parties reach the following agreement: 
 Sec. 1 
 Duties &
Responsibilities 
 (1) Mr Forster shall have the role of “Vice President, General Motors” and “President, General Motors Europe” and
report to the “Chairman, General Motors Europe.” He shall have a pan-European responsibility and carry out his duties at all locations where GM has business interests (including in particular Germany, Sweden, Switzerland, Italy, UK and
regularly traveling to the US). 
 (2) Mr Forster shall fulfill his obligations arising from this agreement and his role of “Vice President,
General Motors” and “President, General Motors Europe” with the care of a prudent businessman. 
 (3) Mr Forster shall devote his full working
capacity together with his entire knowledge and skill to his role as “Vice President, General Motors” and “President, General Motors Europe”. He shall be available at all times to the extent that this is required by the interests
of the relevant entities. 
 Mr Forster shall not be involved in any paid or unpaid additional occupation for himself or for third parties. Publications,
speeches, seminars etc. relating to the scope of his duties and responsibilities require the prior notification and consent of GM Corporation. 
  

 1 

 Sec. 2 
 Remuneration 
 (1) Mr Forster shall receive a fixed annual salary and shall continue to participate in the

  

	•	 	 General Motors 2002 Annual Incentive Plan (AIP) 

  

	•	 	 General Motors 2002 Long Term Incentive Plan (LTIP) 

  

	•	 	 General Motors 2002 Stock Incentive Plan (SIP) 

 in
accordance with each of the plans relevant rules and requirements as amended and in effect from time to time. All compensation targets and grants are set out in Attachment I to this agreement. 
 (2) All payments to Mr Forster under this agreement are gross payments and shall be made subject to any deductions for fiscal charges, social insurance contributions
etc. required by law. 
 (3) Should Mr Forster fall ill or be unable to work, he shall continue to receive his fixed salary under sec 2 para 1 above from the
date on which he falls ill for a maximum period of one year but on no account beyond the day on which this agreement comes to an end. In the event of permanent disability the above payments come to an end and the relevant pension regulation under
sec 3 para 5 applies. 
 The effect of the illness or inability to work on the other contractual benefits shall be determined in accordance with the current
provisions of the plans on which they are based. In the event of a gap in the agreement, the Company shall decide on the amounts to be paid at its equitable discretion. 
 If Mr Forster’s illness or inability to work is caused by a third party, Mr Forster shall assign any claims he may have against such third party to the Company up to the amount of the fixed salary paid for the
time of his inability to work as well as any bonuses (if any). At the request of the Company Mr Forster is obliged to take all measures which the Company considers appropriate in asserting and/or enforcing such claims against third parties.

 Sec. 3 
 Pension 

 (1) Mr Forster shall be entitled at age 60 (regular retirement age) to an annual gross pension in the amount of 50% of his fixed annual gross salary
(under sec. 2 para 1 above) of the year in which this contract legally terminates (“Pension Basis”). 
 The resulting amount of
Mr. Forster’s pension shall be offset by any pension and/or financial entitlement insofar as it is based on payments and /or contributions by the Company or GM Group and such offset is not in conflict with mandatory law applicable to this
contract. 
 The final amount of Mr Forster’s pension is hereinafter referred to as the “Actual Pension”. In the event of a termination
of this contract prior to the regular retirement age, the “Actual Pension” is the pension calculated in accordance with sec 3 para 3 below. 
  

 2 

 (2) Any pension entitlements mentioned above are immediately vested. 
 (3) In the event of a termination of this contract or a resignation from office with effect prior to the regular retirement age the following regulation shall
apply: 
 (a) Resignation or Termination by Mr Forster 
 Definitions: 
  

	A =	Actual Pension accrued at time of departure under sec. 3 para 1 sentence 1 before offset (i.e. 50% of the last fixed annual gross salary) 

  

	B =	BMW Pension Benefit Entitlement of Mr Forster (at least € 104,000) 

  

	F =	Fixed Pension under sec. 3 para 1 sentence 1 as per April 1, 2006 before offset (i.e. 50% of the fixed annual gross salary as per April 1, 2006) 

 

	R =	Reduced Pension before offset 

  

	aa)	Termination effective prior to April 1, 2006 

 If Mr Forster
resigns or gives notice of termination with effect to a date prior to April 1, 2006, the pension receivable at age 60 shall be determined under the formula set out hereunder: 
 Formula: 
 (A – B)* months of service with GM from April 1, 2001 to termination date
= R 
 60 
 bb) Termination effective after
April 1, 2006 
 If Mr Forster resigns or gives notice of termination, with effect to a date after April 1, 2006 but prior to the regular
retirement age, the pension receivable at age 60 shall be determined under the formula set out hereunder: 
 Formula: 
 A – F = X 
 X* number of months of service with GM from April 1,
2006 to May 31, 2014 = Y 
                         98 
 Y + F = R 
 cc) The reduced pension (R) of Mr Forster under either aa) or bb) above shall then be offset by any pension and/or
financial entitlement insofar as it is based on payments and /or contributions by the 

  

 3 

 
Company or GM Group and such offset is not in conflict with mandatory law applicable to this contract. The resulting amount of the reduced pension
(R) under bb) shall also be offset by the BMW Pension Benefit Entitlement of Mr Forster (B), such BMW offset amounting to at least € 104,000. 
 b)
Death in service/Permanent Disability in service/Termination by the Company other than for cause 
 In the event of death in service or permanent disability
in service within the meaning of the VI. Book of the German Social Security Act or a termination of this contract by the company other than for cause, with effect to a date prior to the regular retirement age, the pension shall not be prorated as
set out under a) above and no deduction of the BMW pension shall take place. Other deductions as set out under sec. 3 para 1 above remain to be applicable. 
 (4) Should Mr Forster leave dependants upon his death, the surviving spouse shall be entitled to a
dependant’s pension in the amount of 60% and the dependant children (until their 27th birthday) in the amount of 15% (each) of the Actual
Pension Mr Forster has received or would have received at age 60 under para 1 (or, if applicable para 3), provided that the total survivor payments shall not exceed 90% of the Actual Pension Mr Forster has received or would have received at age 60
under para 1 (or, if applicable para 3). The offset of any other pension and/or financial entitlement insofar as it is based on payments and/or contributions by the Company or GM Group under para 1 and/or para 3 plus the BMW pension in the case of
para 3 a) shall be applicable even if the dependants do not benefit from these other pensions and/or financial entitlement. 
 Should Mr Forster and Ms Forster die, their children shall each be entitled to 25% of the Actual Pension Mr Forster has received or would have received at age 60 under para 1 (or, if applicable para 3) until their 27
th birthday provided that total survivor payments shall not exceed 90% of the Actual Pension Mr Forster has received or would have received at age
60 under para 1 (or, if applicable para 3). The offset of any other pension and/or financial entitlement insofar as it is based on payments and/or contributions by the Company or GM Group under para 1 and/or para 3 plus the BMW pension in the case
of para 3 a) shall be applicable even if the dependants do not benefit from these other pensions and/or financial entitlement. 
 (5) In case of permanent
disability to work within the meaning of the VI. Book of the German Social Security Act caused by sickness or accident, Mr Forster shall be entitled to the pension, calculated in accordance with sec 3 para 1 above. In the event that such disability
occurs after this contract has been terminated as set out in sec 3 para 3 a) above but prior to the regular retirement age, the pension shall be calculated as set out under para 3 a) above. 
  

 4 

 (6) The pension and dependant’s benefits shall be adjusted in accordance with the provisions under sec. 16 of the
German company Pension Act (BetrAVG). 
 Sec. 4 
 Signing Bonus/Car Policy 
 (1) Mr Forster shall be entitled to a lump sum signing bonus in the amount of €
300,000 gross. 
 (2) Mr Forster shall be eligible to a company car in accordance with the GME group car policies as in effect from time to time. 

Sec. 5 
 Information

 Mr Forster shall keep all information in relation to the Company, General Motors Corporation and its subsidiaries (in particular but not limited to
company secrets) which he has obtained during his services strictly confidential and shall not use this information neither directly nor indirectly for his own or a third parties purposes, nor shall he use or disclose this information in press
releases which are liable to damage or negatively influence the reputation of the aforementioned companies. 
 Sec. 6 
 Non-compete 
 During the term of this agreement,
Mr. Forster shall not, whether directly or indirectly and whether for his own account or for the account of a third party, 
  

	(a)	compete with the Company, General Motors Corporation or any entity affiliated with them from time to time; or 

  

	(b)	work for, establish, acquire, participate in or support any business enterprise which directly or indirectly competes with the Company or any entity affiliated with it from time to
time. 

 Sec. 7 
 Termination 
 (1) This contract comes into effect on June 17, 2004 and is made for an unlimited term. It can be terminated by either
party by way of giving 12 months written notice to take effect to the end of a month. If this agreement is terminated (by whichever party), the company has the right to release Mr Forster from his obligation to perform his duties (taking into
account any unused vacation) until the expiry of the termination notice period. 
  

 5 

 If Mr Forster is released from his obligations subsequent to a notice of termination, he is entitled to demand a mutual
cancellation of this contract with 3 months’ notice to take effect to the end of a calendar month under the condition that he does not enter into any relationship to a competitor as set out under sec. 6 above and there is no overriding
objective business interest of GM. The validity of such cancellation requires the written approval of the company, which will not be withheld if Mr Forster produces satisfactory proof of his future non-competition and there is no overriding
objective business interest of GM. 
 (2) The right of termination on important grounds (aus wichtigem Grund) shall remain unaffected. 
 (3) This contract shall terminate automatically at the end of the month of Mr Forster’s 60th birthday (sec 620 Civil Code). 
 (4) This agreement terminates at
the end of the month in which it is established that Mr Forster is permanently disabled to work within the meaning of theVI. Book of the German Social Security Act. 
 (5) In the event of normal retirement, or death in service or permanent disability in service within the meaning of the VI. Book of the German Social Security Act or a termination of this contract by the company other
than for cause, all share Options which have already been granted to Mr Forster prior to the date on which the event occurs or the termination becomes effective, remain to be exercisable under the terms and conditions of the General Motors 2002
Stock Incentive Plan (SIP) as amended and in effect from time to time. There shall be no claw back of profits incurred by options that have been already exercised and shares that have already been sold. 
 If this contract is terminated by Mr Forster with effect prior to the regular retirement age, all unexercised options lapse immediately and there shall be a clawback of
profits from options exercised and shares sold as set out in the General Motors 2002 Stock Incentive Plan (SIP) such clawback being effective in particular in the event of Mr Forster establishing a relationship to a competitor as set out under sec.
6 above. 
 Sec. 8 
 Insurances 
 The Company shall provide for the following accident insurance cover for the benefit of Mr Forster: 
 € 1,500,000,—in the event of death 
 € 2,500,000,—in the
event of permanent disability 
 € 250,—per day in case of sickness 
 The insurance cover is limited to the duration of this agreement. 
  

 6 

 Sec. 9 
 Records 
 Upon termination of this Agreement, or upon Mr Forster being relieved of his duties pursuant to sec. 7, Mr
Forster shall hand over to the Company without undue delay all objects and records (in particular books, keys, notes of any kind, software and disks, in each case including any copies) which are in his possession and which relate to the affairs of
the Company or of one of its affiliated entities. To this extent, Mr Forster shall have no right of retention. 
 Sec. 10 

Miscellaneous 
 (1) This agreement is governed by
German law. It sets forth the entire agreement reached between the parties regarding the subject-matter hereof. Variations and additions to this agreement shall be made in writing. The same shall apply to any waiver of the need to comply with the
provisions of this sec. 10 para (1). 
 (2) All agreements and arrangements existing between Mr Forster and the Company and/or affiliated companies are
hereby terminated with immediate effect and shall be replaced in their entirety by this agreement. 
 (3) Any assignment or pledging of claims under this
agreement shall be excluded. 
 (4) If one or more provisions of this agreement should be or become wholly or partially invalid, void or impracticable, the
validity of the other provisions of this agreement shall not be affected thereby. The same shall apply if it should transpire that this agreement contains an omission. In place of the invalid, void or impracticable provision (or, as the case may be,
in order to rectify the omission) the parties to this agreement shall agree on an appropriate provision which comes as close as legally possible to what the parties were trying to achieve with the invalid, void or impracticable provision (or, as the
case may be, the invalid, void or impracticable part thereof) or (where a contractual omission is being rectified) to what the parties would, in view of the purpose and intent of this agreement, have agreed had they thought about the matter at the
time that this agreement was concluded. 
  

					
	 16, June 2004
	  		  	
			
	 /s/ F. A. Henderson
	  		  	 /s/ Carl Peter Forster

	for and on behalf of	  		  	Mr Carl Peter Forster
	General Motors Europe AG	  		  	
	Mr Fritz Henderson	  		  	
	Group Vice President General Motors;	  		  	
	Chairman General Motors Europe	  		  	

  

 7 

 GENERAL MOTORS CORPORATION 
  

					
		 	Name: CARL-PETER FORSTER	  	Date: Jun-03-2004

  

									
	ANNUAL SALARY	 		  		  		  	
					
	 Current Salary: EU 537,900
	 		  		  	 Proposed: EU 600,000
	  	
		 		  		  	 Change % : 11.5%
	  	
		 		  		  	 Effective : Jul-01-2004
	  	
					
	ANNUAL INCENTIVE AWARDS	 		  		  		  	
					
	 2003 Award Target :
	 	EU 350,000	  		  	 2004 Award Target : EU 420,000
	  	
					
	 2003 Perf. Adj. Target
	 	EU 350,000	  		  	 Target as % Salary: 70%
	  	
					
	 2003 Award Payout:
	 	EU 350,000	  		  		  	
					
	Total Cash Compensation:	 	EU 887,900	  		  	New Target Cash Comp. : EU 1,020,000	  	
	(2003 Award Payout + Current Base)	 		  		  	(2004 Award Target + 2004 Base)	  	

  

									
	 LONG-TERM INCENTIVES

	
	 Stock Performance Plan

		 		 	2001-2003	 		  	
		 		 	SPP	 		  	
		 		 	Payment	 		  	
		 		 	Shares	 		  	
		 		 		 		  	 2002 – 2004 SPP Target: 4,928 shares ($48.71)

	 Target:
	 	5,087	 		  	
	 Perf/Adj Target:
	 	5,087	 		  	 2003 – 2005 SPP Target: 8,450 shares ($37.28)

	 Recom Shares:
	 	5,087	 		  	
	 Div. Equivalent:
	 	634	 		  	 New 2004 – 2006 SPP Target: 6,587 shares ($49.34)

	 Final Payout:
	 	5,721	 		  	
		 		 		  	New Total Direct Comp. Opportunity: EU 1,277,519
		 		 		  	(New Target Cash Comp. + 2004-2006 SPP Target)
	 Leadership Challenge Grant Payment: 3,017 shares

				
	 Stock Options:
	 		 		  	

 Jan-23-2004 Grant: 28,000 Shares 
 Incentive award targets represent the award that an executive who substantially achieves individual performance objectives could expect to earn if Corporate and Region performance is 100% of targeted levels. Incentive
awards are prorated to reflect time in executive group and positions held. The performance adjusted target for AIP reflects Corporate and Regional results and for SPP reflects Corporate results. Final award payouts also reflect individual
performance. 
 Stock ownership guidelines as percentage of base salary: 200% 
  

									
	001	 	9S00	 	GERMANY EURO	  	Personal and confidential	  	

 ATTACHMENT I 
  

 8Offer Letter to R.S. Osborne

 Exhibit 10(t) 
  

					
		  	

	  	 Gregory E. Lau

		  	  	 Executive Director

			
		  		  	 Global Compensation and

			
		  		  	 Corporate Governance

  

			
		 	  

 July 20, 2006 
 Mr. Robert S. Osborne 
 564 Maple Street 
 Winnetka, IL 60093 
 Dear Bob: 
 Now that everything is announced and you verbally accepted our offer, I think it would be prudent to have a signed agreement confirming our compensation and benefits arrangement. Your employment as Group Vice President and General Counsel
with General Motors Corporation will commence on Friday, September 1, 2006. You will be located at our headquarters office in Detroit, Michigan. 
 Your
starting base salary will be $800,000. Your base salary will be reviewed periodically by the Executive Compensation Committee (ECC) of the Board of Directors and, based on that review, may be adjusted. Your annual cash bonus target will be 90% and
payment will be dependent upon corporate performance relative to the performance matrices approved by the ECC, but in no case will your bonus be less than $240,000 for 2006, $720,000 for 2007 and $480,000 for 2008. 
 You will be eligible to participate in the Company’s Stock Performance Program (SPP), Stock Option plan and the Cash Based Restricted Stock Unit (RSU) plan. Your
target value for each of the open periods of 2005-2007 and 2006-2008 will be $550,000 and full participation in these three-year periods will be granted. Following the end of the three year period, shares (if any) are converted to cash including
accumulated dividends, and then paid. On September 1, 2006, you will be granted 120,000 shares of Stock Options (with the grant price established as the average of the high and low price of GM $1 2/3 stock on that date) and a special Cash Based
RSU grant of 25,000 shares. Both the options and RSUs will vest in equal installments on each of the three annual anniversaries following the grant date. Dividend equivalents will be paid on the unvested RSU shares during the three year period. You
will be eligible for participation in these three plans on an annual basis, assuming the Committee continues such plans after they terminate on May 31, 2007. 
 Health care coverage for you and your eligible dependents during our three-month waiting period will be covered under your COBRA coverage from Jenner & Block. We will reimburse all related premiums. 
 You will be entitled to the Corporation’s standard package of benefits and perquisites available to executives at your level. A summary of the elements of the
benefits package is outlined in the attached. We would like to have one of our benefits experts walk you through all your benefits. Your participation in these plans, as well as any compensation plans will be controlled by the terms of those plans
and they can be amended, changed or terminated at any time by the ECC. 
 As a condition of your acceptance of our offer of employment, you will be required
to execute the attached Compensation Statement. Also, please note that executives at your level are expected under the Corporation’s ownership guidelines, to achieve (within five year of hire) a level of ownership equal to three times base
salary. 
  

	
	Sincerely,
	
	 /s/ Gregory E. Lau

					
		  	

	  	 Gregory E. Lau

		  	  	 Executive Director

			
		  		  	 Global Compensation and

			
		  		  	 Corporate Governance

  

			
		 	  

  

	cc:	G. R. Wagoner, Jr. 

 Attachments 
 I accept this offer of employment with General Motors beginning September 1, 2006. 
  

					
	 /s/ Robert S. Osborne
	 		 	 7/20/06

	Robert S. Osborne	 		 	Date

 ESTIMATED TOTAL COMPENSATION AND BENEFITS 
 Robert S. Osborne 
 Group Vice
President, General Counsel 
  

					
	 DIRECT COMPENSATION
	  	 AMOUNT
	  	 COMMENTS

	Annual Base Salary	  	$800,000	  	Merit increases as appropriate - reviewed annually.
		  		  	Next review in 2007.
			
	Annual Incentive - Target Award*	  	$720,000	  	Target award (annual bonus) is 90% of annual base salary. Payment may vary from zero to an uncapped percentage of target based on Corporate, region and individual performance. The
annual incentive is payable in cash lump sum in January following the performance year.
		  		  
	Guarantee Target Bonus - 24 months	  
	 $240,000 paid January 31, 2007
	  		  
	 $720,000 paid January 31, 2008
	  		  
	 $480,000 paid January 31, 2009
	  		  	
		  	 	  	
	 Total Annual Cash Compensation - at target
	  	$1,520,000	  	
			
	2007-2009 Stock Performance Program Grant (SPP)*	  	 $550,000
 (18,334 shares) 
	  	 Annual target value of grant. Will grant phantom GM Common stock for SSP plan (2007-2009) with a value of $550,000. Payout may vary from zero to 200%
of target plus change in value of stock. Subject to a minimum corporate performance level (based on GM’s Total Shareholder Return relative to each company in the S&P 500). Following the end of the three year period, shares converted to cash
including, accumulated dividends, and then paid in cash.
 Grant is stock price based on the average mean of GM Common stock during the month of December
2006.
 For example at $30 share price - Number of shares - 18,334

			
	Annual Restricted Stock Unit Grant*	  	 $400,000
 (13,400 shares) 
	  	 Annual target value of grant. With an estimated share price of $30, the grant would be 13,400 shares in 2007. Grant will vest in equal
installments over the three years from the date of the grant. Dividend equivalents will be paid on the unvested shares during the three year period. Value will be paid in cash.
 If you terminate employment prior to vesting the grant will be forfeited.

			
	Dividend Equivalents	  	$13,400	  	Forecast based on 13,400 shares shown above.
			
	Annual Stock Option Grant*	  	 $400,000
 (40,000
shares) 
	  	Potential value est. $10.00 per share (not Black-Scholes), target award of 40,000 shares in the 2007 cycle. GM Common shares granted under option based on market price at date of grant
(usually January). Exercisable in three annual installments - 33- 1/3% one year after date of grant, 66- 2/3% after two years and 100% after three years. Normally ten year option term. ISO’s granted to IRS maximum. If you terminate
employment within one year after the date of exercise of any stock option, and you are employed by a competitior of the Corporation, you shall pay to the Corporation an amount equal to any gain from such exercise. This amount is due within 30 days
of termination.
		  	 	  	
	Total Annual Direct Compensation - at target	  	$2,883,400	  	
		  	 	  	

  

	*	Grant amounts and final awards subject to determination by the Executive Compensation Committee of the Board of Directors. Incentive plans may be amended, changed or terminated at
any time by the Committee. 

  

 1 of 6 

 ESTIMATED TOTAL COMPENSATION AND BENEFITS 
 Robert S. Osborne 
 Group Vice
President, General Counsel 
  

					
	 Special One-Time Grants
	  	 AMOUNT
	  	 COMMENTS

	 Special Restricted Stock Unit Grant
  
 Grant Date - September 1, 2006
	  	 $625,000
 (25,000 shares) 
 (shares are fixed) 
	  	Value based on a share price of $25, target award of 25,000 shares on date of hire. Grant will vest in equal installments over the three years from the date of the grant. Dividend equivalents
will be paid on the unvested shares during the three year period. Value will be paid in cash.
		  		  	If you terminate employment prior to vesting the grant will be forfeited.
			
	Special Stock Option Grant	  	 $1,200,000
 (120,000 shares) 
	  	Potential value est. $10.00 per share (not Black-Scholes), target award of 120,000 shares on date of hire. GM Common
	Grant Date - September 1, 2006	  	 (shares are fixed) 
	  	shares granted under option based on market price at date of grant - September 1, 2006. Exercisable in three annual installments - 33- 1/
3% one year after date of grant, 66- 2/3% after two years and
100% after three years. Normally ten year option term. ISO’s granted to IRS maximum. If you terminate employment within one year after the date of exercise of any stock option, and you are employed by a competitior of the Corporation, you shall
pay to the Corporation an amount equal to any gain from such exercise. This amount is due within 30 days of termination.
			
	 2005-2007 Stock Performance Program Grant (SPP)
  
 Full participation in plan granted
	  	 $550,000
 (14,056 shares) 
	  	 Annual target share value. Will grant GM Common stock for SSP plan (2005-2007) with a value of $550,000. Payout may vary from zero to 200% of target
plus change in value of stock. Subject to a minimum corporate performance level (based on GM’s Total Shareholder Return relative to each company in the S&P 500). Following the end of the three year period, shares converted to cash
including, accumulated dividends, and then paid in cash.
 Grant is stock price based on the average mean of GM Common stock during the month of December.

 Share price - $39.13

			
	 2006-2008 Stock Performance Program Grant (SPP)
  
 Full participation in plan granted
	  	 $550,000
 (26,030 shares) 
	  	 Annual target share value. Will grant GM Common stock for SSP plan (2006-2008) with a value of $550,000. Payout may vary from zero to 200% of target
plus change in value of stock. Subject to a minimum corporate performance level (based on GM’s Total Shareholder Return relative to each company in the S&P 500). Following the end of the three year period, shares converted to cash
including, accumulated dividends, and then paid in cash.
 Grant is stock price based on the average mean of GM Common stock during the month of December.

 Share price - $21.13

  

 2 of 6 

 ESTIMATED TOTAL COMPENSATION AND BENEFITS 
 Robert S. Osborne 
 Group Vice
President, General Counsel 
  

					
	 BENEFIT PLANS
	  	 AMOUNT
	  	 COMMENTS

	Flexible Compensation Payment	  	$1,900	  	Will receive a $1,900 cash lump sum payment, payable in March 2007, provided that such employee has a service date on or before January 1, 2007 and is on the active salaried roll as of January
15, 2007. Additionally, the executive has the option to purchase up to 5 days off at a cost of $175 per day which is deducted from the lump sum amount. This annual payment helps to offset employee paid costs related to health care, life insurance,
supplemental extended disability benefits plus health and dependent care spending accounts. Spending accounts can be elected up to amounts of $5,000 each. Accounts are funded with pre-tax dollars deducted from the executive’s
paycheck.
	Life Insurance Coverage	  		  	
			
	 - Basic Group Life Insurance
	  	$400,000	  	 Two times annual salary up to a maximum salary of $200,000. Company paid. All salaried employees qualify. There is imputed income on insurance over
$50,000. Eligibility commences on the 1st of the third month following date of hire. (Assume hire date of 9/1/2006, eligible for life insurance 12/01/2006)
  
 Additional 50% of Basic Life Insurance is payable for accidental death while on company business.
  
 This benefit is not continued in retirement.

			
	 - Supplemental Life Benefit Plan (SLBP)
	  	 Part A        
 $1,600,000
  
 Part
B        
 $1,200,000
	  	 Two times annual salary (Part A) plus two times annual salary in excess of $200,000 (Part B). This benefit is continued in retirement providing you
retire at or after age 62 with 10 years participation in the Salaried Retirement Program. Part A reduces to one time annual salary in retirement while Part B reduces at a rate of 2% per month down to an ultimate amount of 1.5% of the amount in force
prior to retirement times years of participation. Company provided benefit applicable only to executives. Proceeds taxed as ordinary income to beneficiary. Eligibility commences on the 1st of the third month following date of hire.
 (Assume hire date of 9/1/2006, eligible for life insurance 12/01/2006)

		  	 	  	
	Total Corporate Paid Life Insurance / SLBP	  	$3,200,000	  	
		  	 	  	
			
	 - Optional Group Life Insurance
	  	$4,800,000	  	Up to 6 times annual base salary. Paid monthly by the
		  	(Maximum)	  	executive.
		  		  	$0.19 per $1,000 (age 50-54)
		  		  	$0.43 per $1,000 (age 55-59)

  

 3 of 6 

 ESTIMATED TOTAL COMPENSATION AND BENEFITS 
 Robert S. Osborne 
 Group Vice
President, General Counsel 
  

					
	 BENEFIT PLANS
	  	 AMOUNT
	  	 COMMENTS

	 - Dependent Group Life Insurance
	  	$150,000	  	Cost of coverage for spouse
		  	Spouse (max.)	  	$0.24 per $1,000 (age 50-54)
		  		  	$0.37 per $1,000 (age 55-59)
			
		  	$30,000	  	Cost of coverage for children
		  	Child (max.)	  	
		  		  	$0.08 per $1,000 (any age)
			
		  		  	Eligibility commences 1st of the third month following date of hire.
			
	 - Personal Accident Insurance
	  	 $1,000,000 max.
 (employee)    
 $500,000 max.
 (spouse)    
 $50,000 max.
 (each child)    
	  	 Employee pays full cost of $0.011 per $1,000 per month each for employee and spouse coverage and $0.025 per $1,000 per month for child(ren) coverage.
Minimum coverage $10,000 per person. Eligibility commences first of the third month following date of hire.
 (Assume hire date of 9/1/2006, eligible for PAI
12/01/2006)

			
	 - Short Term Disability
(Salary Continuation)
	  	 $66,667
 per
month
	  	Benefit equals 100% of pay up to 12 months, provided that executive has attained one year of service otherwise time-for-time. Eligibility commences immediately.
			
	 - Long Term Disability
(Extended Disability Benefit)
	  	 $40,000
 per
month
	  	 Benefit equals 60% of pay and is payable time-for-time up to a maximum of 5 years.
 Eligibility commences 1st day of the month following attainment of six months of continuous service.
 (Assume hire date of
9/1/2006, eligible for long term disability 4/01/2007)

			
	 - Supplemental Extended Disability Benefit (SEDB)
	  	 $40,000
 per
month
	  	 Benefit equals 60% of pay. Employee must elect this benefit when first eligible or may be required to provide proof of good health to enroll
thereafter. SEDB will provide for additional disability benefits beyond expiration of corporate paid EDB until the earlier of (1) recovery, (2) death or (3) the later of age 65. (Cost is .0014 of 60% salary or $56 per month)
  
 Enroll either upon hire (receipt of Flex kit) or during first annual Flex enrollment period (fall of
2006). Contributions and coverage do not commence until employee acquires 13 months of service - November 2007.

  

 4 of 6 

 ESTIMATED TOTAL COMPENSATION AND BENEFITS 
 Robert S. Osborne 
 Group Vice
President, General Counsel 
  

					
	 BENEFIT PLANS
	  	 AMOUNT
	  	 COMMENTS

	 - Supplemental Disability Income Protection Program (SDIP)
	  		  	 SDIP is provided to U.S. executives on a voluntary, self-pay basis by an outside vender - UnumProvident. It will supplement the EDB program by
providing tax-free additional benefits based on your total base salary and your annual incentive plan compensation. No medical underwriting is required and it is fully portable.
 No increase in premiums until age 65. Eligible to enroll immediately.
 Have opportunity to convert this insurance to
Long-Term Care insurance after age 60.

			
	 Health Care
Hospital, surgical, dental, vision and prescription drugs
	  		  	Various coverages available at employee election, including Basic Medical, Enhanced Medical, PPO, and HMO options. Plans have varying levels of monthly contributions, deductibles, co-pays, and
out-of-pocket maximums. Includes no pre-existing condition exclusion. This benefit is not continued in retirement. Eligibility commences on the 1st of the third month following the date of hire. (Assume hire date of 9/1/2006, eligible for health
care on 12/1/2006)
			
	Savings-Stock Purchase Program	  		  	May defer up to $15,000 for 2006 (indexed) as pre-tax contributions (401k). Over 70 investment options are available in the S-SPP, including funds offered by Fidelity. Eligibility commences on
the 1st day of the month following 6 months of service. No match at this time - this may vary from time to time based on company performance. (Assume hire date of 9/1/2006, eligible for SSPP on 4/1/2007)
			
	 Benefit Equalization Plan
  
 “Phantom” contribution based on salary of:
	  		  	Since the executive’s S-SPP contributions are stopped due to IRS limits (at salary limit of $220,000 for 2006), when there is a GM match it continues to accrue to this plan on and unfunded,
non-qualified basis. The “phantom” contribution is in GM Common Stock and is not available until separates from GM. (Eligibility same as SSPP)
			
	Post-retirement insurances	  		  	An annual GM contribution of 1% of eligible monthly base salary up to the annual IRS limit ($220,000 for 2006) is provided for post-retirement insurances. ($2,200 contribution)
			
	 Benefits Equalization Plan
	  		  	Additionally, an annual GM contribution of 1% of base salary in excess of the compensation limit ($220,000 for 2006) is also provided for post-retirement insurances. ($5,800
contribution)
			
	Personal Umbrella Liability Insurance	  	$5,000,000	  	Company-paid for executives only. Imputed income is assessed annually on this benefit. Current imputed income is $632.
			
	Retirement Program	  		  	4% Defined Contribution Plan - 4% of Base Salary and Annual Incentive Plan Payout (At target bonus - $60,800 contribution)
			
	Vacation/holiday	  	Five weeks vacation and GM paid holidays	  	Holidays include a shutdown between Christmas and New Years. One week vacation to be taken during the summer shutdown, if applicable. Eligibility for the full first year vacation based on date
of hire.

  

 5 of 6 

 ESTIMATED TOTAL COMPENSATION AND BENEFITS 
 Robert S. Osborne 
 Group Vice
President, General Counsel 
  

					
	 OTHER BENEFITS
	  	  	  	 COMMENTS

	Senior Management Vehicle Program	  		  	Senior executives may select a GM car or truck that will be rotated periodically. Fuel, insurance, license and depreciation, all are paid by the company. Imputed income is assessed (up to a
cap) and grossed up by GM, plus a $150 per month administration fee. Additionally, under the safe driving program, any DUI violation within 3 years prior to date of hire at GM will be reviewed and may result in suspension from the program. Further,
any driving infraction, following date of hire, which results in a drivers license suspension or restriction may result in suspension from the program.
			
	Executive Physical	  		  	Age 46 and over - annually. Eligibility will commence in calendar year 2007.
			
	Financial Counseling Program	  		  	Financial counseling is provided to senior management executives. A corporate officer may select his own vendor. This benefit is Corporate-paid and includes up to $7,000 the first year with
lower costs in additional years. The executive is assessed imputed income on a portion of the cost of the program. There is no reimbursement for tax preparation. Eligibility commences the first of the year following hire. Eligible on
1/1/2007.
			
	Stock Ownership Guidelines	  		  	Senior executives are expected to own GM common stock and formal ownership guidelines have been established for such positions. It is expected that you will achieve a level of holdings where
the market value of your GM common stock is equal to 3 times your annual salary. This ownership requirement must be achieved within five years of hire.
			
	Non-Compete Agreement	  		  	Attached

 The provisions of the benefits and incentive compensation plans (Annual Incentive, SPP, Stock
Options) described in this document are covered solely by the individual plan documents. This is not a plan document. General Motors Corporation reserves the right to amend, change or terminate any program, benefit plan, policy or any element of
compensation at any time. This document contains estimates only, it is not a contract and does not create or imply any guarantees. 
  

 6 of 6

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