Document:

Stockholders Agreement

 Exhibit 10.8 
  
  
  
 STOCKHOLDERS AGREEMENT 

by and among 
 General Motors Holding Company (to be renamed General Motors Company), 
 United States Department of the Treasury,

 7176384 Canada Inc., 
 UAW Retiree Medical Benefits Trust 
 and 
 solely for purposes of Section 6.20, 
 General Motors Company (to be converted to General Motors LLC) 
 Dated as of
October 15, 2009 
  
  
  

 TABLE OF CONTENTS 
  

					
	 	    	 	  	Page
	ARTICLE I
	DEFINITIONS
			
	Section 1.1	    	Certain Defined Terms	  	2
	Section 1.2	    	Terms Generally	  	6
	
	ARTICLE II
	BOARD OF DIRECTORS
			
	Section 2.1	    	Size of Initial Board	  	7
	Section 2.2	    	Composition of Board	  	7
	Section 2.3	    	Agreement to Nominate VEBA Nominee	  	8
	Section 2.4	    	Agreement to Nominate Canada Nominee	  	8
	
	ARTICLE III
	CERTAIN COVENANTS AND RESTRICTIONS
			
	Section 3.1	    	Initial Public Offering	  	9
	Section 3.2	    	Reserved	  	9
	Section 3.3	    	Transfer Restrictions	  	9
	Section 3.4	    	Restrictions on Certain Corporate Actions	  	10
	Section 3.5	    	Certificate Legends	  	10
	
	ARTICLE IV
	VOTING AGREEMENT
			
	Section 4.1	    	Government Holder Participation to Establish Quorum	  	10
	Section 4.2	    	Government Holder Agreement to Vote	  	11
	Section 4.3	    	VEBA Agreement to Vote	  	12
	Section 4.4	    	Irrevocable Proxy	  	12
	Section 4.5	    	Inconsistent Voting Agreements	  	13
	
	ARTICLE V
	OTHER AGREEMENTS
			
	Section 5.1	    	Tag-Along Rights	  	13
	Section 5.2	    	Drag-Along Rights	  	14
	Section 5.3	    	Preemptive Rights	  	15
	Section 5.4	    	Information Rights	  	17

  

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	ARTICLE VI
	MISCELLANEOUS
			
	Section 6.1	    	Notices	  	17
	Section 6.2	    	Termination	  	19
	Section 6.3	    	Authority	  	19
	Section 6.4	    	No Third Party Beneficiaries	  	19
	Section 6.5	    	No Personal Liability by the VEBA Signatory	  	20
	Section 6.6	    	Cooperation	  	20
	Section 6.7	    	Governing Law; Forum Selection	  	20
	Section 6.8	    	WAIVER OF JURY TRIAL	  	20
	Section 6.9	    	Assignment; Successors and Assigns	  	20
	Section 6.10	    	After Acquired Securities	  	20
	Section 6.11	    	Entire Agreement	  	21
	Section 6.12	    	Severability	  	21
	Section 6.13	    	Enforcement of this Agreement	  	21
	Section 6.14	    	Amendment	  	21
	Section 6.15	    	Headings	  	21
	Section 6.16	    	Counterparts; Facsimiles	  	21
	Section 6.17	    	UST	  	22
	Section 6.18	    	Canada	  	22
	Section 6.19	    	Time Periods	  	22
	Section 6.20	    	Termination of Operating Company Stockholders Agreement; Waiver	  	22

  

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 STOCKHOLDERS AGREEMENT 
 This STOCKHOLDERS AGREEMENT (this “Agreement”) is entered into as of October 15, 2009 by and among General Motors
Holding Company (to be renamed General Motors Company), a Delaware corporation (the “Corporation”), the United States Department of the Treasury (together with its Permitted Transferees, “UST”), 7176384 Canada Inc.,
a corporation organized under the laws of Canada (together with its Permitted Transferees, “Canada”), the UAW Retiree Medical Benefits Trust, a voluntary employees’ beneficiary association (together with its Permitted
Transferees, the “VEBA”), and solely for purposes of Section 6.20, General Motors Company (formerly known as NGMCO, Inc.), a Delaware corporation and successor-in-interest to Vehicle Acquisition Holdings LLC (to be
converted to General Motors LLC, the “Operating Company”). 
 WHEREAS, each of the Government Holders (as
defined below), the VEBA and the Operating Company are parties to that certain Stockholders Agreement, dated as of July 10, 2009 (the “Operating Company Stockholders Agreement”); 
 WHEREAS, in connection with a reorganization involving the Operating Company, an indirect wholly-owned subsidiary of the Corporation has
merged with and into the Operating Company, with the Operating Company continuing as the surviving corporation and becoming an indirect wholly-owned subsidiary of the Corporation (the “Merger”); 
 WHEREAS, as a result of the Merger, each of the Government Holders and the VEBA has been issued that number of shares of common stock, par
value $0.01 per share, of the Corporation (the “Common Stock”) and that number of shares of Series A Fixed Rate Cumulative Perpetual Preferred Stock, par value $0.01 per share, of the Corporation, set forth opposite such
Holder’s name on Annex I hereto, in each case, in exchange for the shares of common stock, par value $0.01 per share, and Series A fixed rate cumulative perpetual preferred stock, par value $0.01 per share, of the Operating Company
previously held by it; 
 WHEREAS, as a result of the Merger, the VEBA has been issued a warrant to acquire 15,151,515 shares of
Common Stock (the “Warrant”) in exchange for the warrant to acquire shares of common stock of the Operating Company previously held by it; and 
 WHEREAS, the parties hereto desire to terminate the Operating Company Stockholders Agreement and wish to enter into this Agreement to govern the rights and obligations of the parties with respect to
certain matters relating to the Corporation and the Holders’ ownership and voting of the Common Stock. 
 NOW, THEREFORE,
in consideration of the foregoing and the mutual covenants contained in this Agreement and for other good and valuable consideration, the value, receipt and sufficiency of which are acknowledged, the parties hereby agree as follows: 

 ARTICLE I 
 DEFINITIONS 
 Section 1.1 Certain Defined Terms. As used in
this Agreement, the following terms have the following meanings set forth below or in the Sections set forth below: 
 “Affiliate” means, with respect to any Person, any other Person which directly or indirectly Controls or is Controlled by or is under common Control with such Person. For the avoidance of doubt, for purposes of this
Agreement, the UAW and its Affiliates shall be deemed to be Affiliates of the VEBA. 
 “Agreement” shall have
the meaning set forth in the Preamble. 
 “Beneficial Ownership” or “Beneficially Owned” have
the meanings given to such terms in Rule 13d-3 of the Exchange Act. 
 “Board” means the board of directors of
the Corporation. 
 “Business Day” means any day that is not a Saturday, Sunday or any other day on which banks
are required or authorized by Law to be closed in New York City, New York. 
 “Canada” shall have the meaning
set forth in the Preamble. 
 “Canada Director” shall have the meaning set forth in
Section 2.2(a)(ii). 
 “Canada Nominee” shall have the meaning set forth in
Section 2.4. 
 “Canada Owned Shares” means the shares of Common Stock Beneficially Owned by
Canada as of the relevant time. 
 “Change of Control” means (A) any acquisition or purchase of capital
stock of the Corporation, or of all or substantially all of the assets of the Corporation or (B) any merger, consolidation, business combination, recapitalization, reorganization or other extraordinary business transaction involving or
otherwise relating to the Corporation, in each case, which would require the vote of the stockholders of the Corporation pursuant to the DGCL or the Certificate of Incorporation of the Corporation. 
 “Chief Executive Officer” means the duly appointed Chief Executive Officer of the Corporation. 
 “Common Stock” shall have the meaning set forth in the Recitals. 
 “Compelled Sale” shall have the meaning set forth in Section 5.2.  
 “Compelled Sale Notice” shall have the meaning set forth in Section 5.2.  
 “Consent” means any consent, approval, authorization, waiver, grant, franchise, concession, agreement, license, exemption
or other permit or order of, registration, declaration or filing with, or report or notice to, any Person. 
  

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 “Control” means the direct or indirect power to direct or cause the
direction of management or policies of a Person, whether through the ownership of voting securities, general partnership interests or management member interests, by contract or trust agreement, pursuant to a voting trust or otherwise.
“Controlling” and “Controlled” have the correlative meanings. 
 “Corporation” shall have
the meaning set forth in the Preamble. 
 “Co-Sale Holders” shall have the meaning set forth in Section
5.1. 
 “Co-Sale Notice” shall have the meaning set forth in Section 5.1. 
 “Debtor” means Motors Liquidation Company, a Delaware corporation formerly known as General Motors Corporation. 

“DGCL” means the Delaware General Corporation Law, as amended from time to time. 
 “Drag-Along Buyer” shall have the meaning set forth in Section 5.2.  
 “Electing Holder” shall have the meaning set forth in Section 5.2. 
 “Equity Registration Rights Agreement” means the Equity Registration Rights Agreement, dated as of the date hereof, by and
among the Corporation, the VEBA, UST, Canada and Debtor. 
 “Exchange Act” means the Securities Exchange Act of
1934, as amended, and the rules and regulations thereunder. 
 “Executive Officer” means any officer who
(i) is subject to Section 16(a) of the Exchange Act or (ii) would be subject to Section 16(a) of the Exchange Act if the Common Stock was registered under Section 12 of the Exchange Act. 
 “Fiscal Year” means the fiscal year of the Corporation. Each Fiscal Year shall commence on the day immediately following
the last day of the immediately preceding Fiscal Year. 
 “GAAP” means accounting principles generally accepted
in the United States of America as in effect from time to time, consistently applied and maintained throughout the applicable periods both as to classification of items and amounts. 
 “Government Holders” means UST and Canada. 
 “Governmental Approval” means any Consent of, with or to any Governmental Authority, and includes any applicable waiting periods associated with any Governmental Approvals. 
 “Governmental Authority” means any United States or non-United States federal, provincial, state or local government or
other political subdivision thereof, any entity, authority, agency or body exercising executive, legislative, judicial, regulatory or administrative functions of any such government or political subdivision, and any supranational organization of
sovereign states exercising such functions for such sovereign states. 
  

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 “Governmental Order” means any Order, stipulation, agreement, determination
or award entered or issued by or with any Governmental Authority and binding on a Person. 
 “Group” has the
meaning given to such term in Section 13(d)(3) of the Exchange Act. 
 “Holder” or
“Holders” means, individually or collectively as the context may require, UST, Canada, and the VEBA. 
 “Independent” shall have the meaning set forth in Section 2.2(b). 
 “Initial
Shares” means, with respect to any Holder, that number of shares of Common Stock, set forth opposite such Holder’s name on Annex I hereto. 
 “IPO” means the earlier to occur of (i) the initial public offering of the Common Stock, (whether such offering is primary or secondary) that is underwritten by a nationally
recognized investment bank, pursuant to an effective registration statement filed under the Securities Act (other than a registration effected solely to implement an employee benefit plan or a transaction to which Rule 145 under the Securities Act
is applicable, or a registration statement on Form S-4, Form S-8 or a successor to one of those forms) or (ii) the later of (A) the date on which a Corporation registration statement filed under Section 12(b) or 12(g) of the Exchange
Act shall have been declared effective by the SEC or otherwise become effective under the Exchange Act and (B) the date of distribution of the shares of Common Stock Beneficially Owned by Debtor pursuant to its plan of reorganization.

 “IPO Date” means the effective date of the registration statement relating to the IPO. 
 “Joint Slate Procedure” shall mean the following process by which the Government Holders select nominees for directors: In
the event that UST intends to propose a slate of candidates for election (whether at an annual meeting of the Corporation’s stockholders, a special meeting of the Corporation’s stockholders called for the purpose of electing directors of
the Corporation or at any adjournment or postponement thereof), UST shall provide Canada with written notice of its intent to propose a competing slate of candidates, in the case of an annual meeting, not less than 150 days prior to the one-year
anniversary of the date of the annual meeting held in the prior year (or no later than January 2, 2010 in the case of the Corporation’s initial annual meeting), and, in the case of a special meeting, not more than five days after notice of
the meeting was first mailed to the Government Holders, in the case of a special meeting; provided that in either case UST shall use commercially reasonable efforts to give Canada as much advance notice of its intent to propose a competing slate of
candidates as reasonably possible. Within ten Business Days, in the case of an annual meeting, and five days, in the case of a special meeting, of receiving UST’s written notice, Canada shall indicate in writing to UST whether or not Canada
intends to participate in the slate. If Canada provides written notice of its intent to participate, such notice must include a list of Canada’s nominees. The number of nominees that Canada may select shall be determined based on Canada’s
proportional ownership interest in shares of Common Stock Beneficially Owned by the Government Holders in the aggregate at the time of such nominee selection. If Canada provides timely written notice of its

  

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intent to participate (including a list of its nominees), each Government Holder agrees to vote “for” the joint slate of candidates nominated by the Government Holders. If Canada does
not provide timely written notice of its intent to participate (including a list of its nominees) or notifies UST that it does not wish to participate, UST may propose a slate of candidates for election composed entirely of its own nominees, but
Canada is under no obligation to vote “for” the candidates nominated by UST. Neither Government Holder shall propose a slate of candidates, or any individual candidate, for election other than in compliance with this Joint Slate Procedure.

 “Law” means any and all applicable United States or non-United States federal, provincial, state or local
laws, rules, regulations, directives, decrees, treaties, statutes, provisions of any constitution and principles (including principles of common law) of any Governmental Authority, as well as any applicable Governmental Order. 
 “Merger” shall have the meaning set forth in the Recitals. 
 “New UST Director” shall have the meaning set forth in Section 2.2(a)(i). 
 “Nominee” shall have the meaning set forth in Section 4.4. 
 “Non-Electing Holders” shall have the meaning set forth in Section 5.2.  
 “Operating Company” shall have the meaning set forth in the Preamble. 
 “Operating Company Stockholders Agreement” shall have the meaning set forth in the Recitals. 
 “Order” means any writ, judgment, decree, injunction or similar order of any Governmental Authority, whether temporary,
preliminary or permanent. 
 “Owned Shares” means UST Owned Shares, the Canada Owned Shares, and the VEBA Owned
Shares, as applicable. 
 “Permitted Transferees” shall mean for each Holder, any Affiliate of such Holder.

 “Person” means any individual, partnership, firm, corporation, association, trust, unincorporated
organization, joint venture, limited liability company, Governmental Authority or other entity. 
 “Preemptive Rights
Period” shall have the meaning set forth in Section 5.3. 
 “Preemptive Rights Shares” shall
have the meaning set forth in Section 5.3.  
 “Proxy” or “Proxies” has the
meaning given to such term in Rule 14a-1 of the Exchange Act. 
 “SEC” means the United States Securities and
Exchange Commission. 
  

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 “Securities Act” means the Securities Act of 1933, as amended, and the
rules and regulations thereunder. 
 “Selling Holder” shall have the meaning set forth in Section 5.1

 “Sold Shares” shall have the meaning set forth in Section 5.1. 
 “Transfer” means, directly or indirectly, to sell, transfer, distribute, assign, pledge, hedge, encumber, hypothecate or
similarly dispose of, or to enter into any contract, option or other arrangement or understanding with respect to the sale, transfer, distribution, assignment, pledge, hedge, encumbrance, hypothecation or similar disposition with or without
consideration, voluntarily or by operation of Law. 
 “UAW” means the International Union, United Automobile,
Aerospace and Agricultural Implement Workers of America. 
 “UST” shall have the meaning set forth in the
Preamble. 
 “UST Owned Shares” means the shares of Common Stock Beneficially Owned by UST as of the relevant
time. 
 “UST Secured Credit Agreement” means the Second Amended and Restated Secured Credit Agreement, dated
as of August 12, 2009, as may be amended from time to time, by and among the Operating Company, as the initial borrower, the Guarantors (as defined therein), and UST, as the lender. 
 “VEBA” shall have the meaning set forth in the Preamble. 
 “VEBA Nominee” shall have the meaning set forth in Section 2.3. 
 “VEBA Owned Shares” shall have the meaning set forth in Section 4.3. 
 “VEBA Secured Note Agreement” means the Amended and Restated Secured Note Agreement, dated as of August 14, 2009, as
may be amended from time to time, by and among the Operating Company, as the initial issuer, the Guarantors (as defined therein), and the VEBA, as the noteholder. 
 “Voting Securities” means securities of the Corporation, including the Common Stock, with the power to vote with respect to the election of directors of the Corporation generally and all
securities convertible into or exchangeable for securities of the Corporation with the power to vote with respect to the election of directors of the Corporation generally. 
 “Warrant” shall have the meaning set forth in the Recitals. 
 Section 1.2 Terms Generally. The definitions in Section 1.1 shall apply equally to both the singular and plural
forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be
followed by the phrase “without

  

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limitation,” unless the context expressly provides otherwise. All references herein to Articles, Sections, paragraphs, subparagraphs or clauses shall be deemed references to Articles,
Sections, paragraphs, subparagraphs or clauses of this Agreement, unless the context requires otherwise. Unless otherwise specified, the words “this Agreement,” “herein,” “hereof,” “hereto” and
“hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular provision of this Agreement. The word “extent” in the phrase “to the extent” shall mean the degree to which a
subject or other thing extends, and such phrase shall not mean simply “if.” Unless expressly stated otherwise, any Law defined or referred to herein means such Law as from time to time amended, modified or supplemented, including by
succession of comparable successor Laws and references to all attachments thereto and instruments incorporated therein. 
 ARTICLE II 
 BOARD OF DIRECTORS 
 Section 2.1 Size of Initial Board. The Board shall initially consist of thirteen (13) directors. The number of directors
may be changed only by vote of the Board in accordance with the charter, certificates of designations and bylaws of the Corporation. 
 Section 2.2 Composition of Board. (a) The initial members of the Board shall be constituted as follows: 
 (i) the Board agrees to nominate and the Holders agree to take all action to cause the election or appointment of ten (10) directors designated by UST, no more than five of whom shall have been directors of the Debtor immediately prior
to July 10, 2009, provided that all directors who have not been directors of the Debtor immediately prior to July 10, 2009 (such directors, the “New UST Directors”) shall be Independent, or if any New UST Director is not
Independent, UST and Canada shall consult with each other in good faith prior to the election or appointment of such non-Independent New UST Director; 
 (ii) the Board agrees to nominate and the Holders agree to take all action to cause the election or appointment of one director designated by Canada (the “Canada Director”), which Canada
Director shall be Independent, or if such Canada Director is not Independent, UST and Canada shall consult with each other in good faith prior to the election or appointment of such non-Independent Canada Director; 
 (iii) the Board agrees to nominate and the Holders agree to take all action to cause the election or appointment of one director designated
by the VEBA with the prior written consent of the UAW (which director shall be Independent or, if not Independent, approved by UST, which approval shall not be unreasonably withheld); and 
 (iv) the Board agrees to nominate and the Holders agree to take all action to cause the election or appointment of the Chief Executive
Officer as a director of the Corporation. 
  

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 (b) Notwithstanding anything to the contrary herein, the Holders agree that at all times
prior to the termination of this Agreement, at least two-thirds of the directors of the Corporation shall be required to be determined by the Board to be independent of the Corporation within the meaning of Rule 303A.02 of New York Stock Exchange
Listed Company Manual (or any successor provision) (“Independent”), whether or not any of the shares of Common Stock are then listed on the New York Stock Exchange. 
 (c) The nominees to stand for election at any time at which the Corporation’s stockholders shall have the right to, or shall, vote for
or consent in writing to the election of directors of the Corporation (whether at an annual meeting of the Corporation’s stockholders, a special meeting of the Corporation’s stockholders called for the purpose of electing directors of the
Corporation or at any adjournment or postponement thereof) shall be nominated by the Board in accordance with the bylaws of the Corporation and Sections 2.3 and 2.4 hereof. 
 Section 2.3 Agreement to Nominate VEBA Nominee. So long as the VEBA holds at least 50% of its Initial Shares, at any time at
which the Corporation’s stockholders shall have the right to, or shall, vote for or consent in writing to the election of directors of the Corporation (whether at an annual meeting of the Corporation’s stockholders, a special meeting of
the Corporation’s stockholders called for the purpose of electing directors of the Corporation or at any adjournment or postponement thereof), then, and in each such event, the VEBA shall have the right to designate one nominee, which
designation shall be subject to the prior written consent of the UAW and if the designated nominee is not Independent, to the prior written consent of UST, which consent of UST shall not be unreasonably withheld (the “VEBA
Nominee”), to serve as a director. 
 (a) From and after the date hereof to and including the IPO Date, the Board
agrees to nominate and the Holders agree to appoint such director. 
 (b) From and after the IPO Date, if the Board shall
approve such nominee (such approval not to be unreasonably withheld) the Board shall (i) nominate the VEBA Nominee to be elected a member of the Board and (ii) include the VEBA Nominee in any proxy statement and related materials used by
the Corporation in respect of the election to which such nomination pertains. In the event that the Board does not approve such nominee (or any subsequent nominee), the VEBA shall have the right to designate a replacement VEBA Nominee (and further
replacement nominees for any subsequent nominees), which nominee shall be subject to the prior written consent of the UAW, who shall be subject to approval of the Board in accordance with this Section 2.3. 
 Section 2.4 Agreement to Nominate Canada Nominee. (a) So long as Canada holds at least 50% of its Initial Shares, at any time at
which the Corporation’s stockholders shall have the right to, or shall, vote for or consent in writing to the election of directors of the Corporation (whether at an annual meeting of the Corporation’s stockholders, a special meeting of
the Corporation’s stockholders called for the purpose of electing directors of the Corporation or at each adjournment or postponement thereof), then, and in each such event, from and after the date hereof to and including the IPO Date, Canada
shall have the right to designate one nominee, which nominee shall be Independent (the “Canada Nominee”) (or if such Canada Nominee is not Independent, UST and Canada shall consult with each other in good faith prior to the election
or

  

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appointment of such non-Independent Canada Nominee), to serve as a director and the Board agrees to nominate and the Holders agree to appoint such director; provided, however, that the right of
Canada to designate a Canada Nominee at any election pursuant to this Section 2.4 shall only apply in the event that if Canada were not to designate a Canada Nominee at such election, no member of the Board after such election would have
been a Canada Nominee. In the event that the Board nominates a former Canada Nominee for re-election not pursuant to a designation by Canada with respect to such election, such former Canada Nominee shall not be considered a Canada Nominee for the
purpose of determining Canada’s right to designate a nominee at such election. 
 ARTICLE III 
 CERTAIN COVENANTS AND RESTRICTIONS 
 Section 3.1 Initial Public Offering. The Government Holders shall use their reasonable best efforts to exercise their demand registration rights under the Equity Registration Rights Agreement
and cause an IPO to occur no later than July 10, 2010, unless the Corporation is already taking steps and proceeding with reasonable diligence to effect an IPO. 
 Section 3.2 Reserved. 
 Section 3.3 Transfer Restrictions.
Subject to the restrictions set forth in this Section 3.3 (which restrictions shall not apply with respect to sales made in an underwritten offering pursuant to a registration statement of the Corporation), the Holders shall have the
right to Transfer all or any portion of their respective Owned Shares, subject to compliance with applicable law. 
 (a) Without
the prior written consent of the Board, no Holder shall Transfer any shares of Common Stock or any options or warrants to acquire Common Stock, or any interest therein, to any one Person or Group if such Person or Group Beneficially Owns or would as
a result of such Transfer Beneficially Own (to the knowledge of the Holder after reasonable inquiry) in excess of 10% of the Common Stock. Notwithstanding the foregoing, any Holder may Transfer any or all of its shares of Common Stock or any options
or warrants to acquire Common Stock to any Permitted Transferee or pursuant to an exchange offer, a tender offer (or a request for invitation for tenders to the extent not prohibited pursuant to Section 3.3(b)), merger or consolidation.

 (b) Without the prior written consent of the Board, no Holder shall Transfer any shares of Common Stock or any options or
warrants to acquire Common Stock to any automotive vehicle manufacturer or any Affiliate thereof; provided, however, that the VEBA, UST, Canada and their respective Permitted Transferees (which shall not include Chrysler Group LLC or any Affiliate
thereof) shall not be regarded as Affiliates of Chrysler Group LLC for purposes of this provision. 
 (c) No Transfer of any
shares of Common Stock or any options or warrants to acquire Common Stock in violation of this Agreement or in violation of any restrictive legend on the Common Stock certificates of any Holder shall be made or recorded on the books of the
Corporation and any such Transfer shall be void and of no effect. 
  

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 (d) Upon the Corporation’s request, any Holder shall promptly notify the Corporation in
writing of the number of shares of Common Stock then Beneficially Owned by such Holder. 
 Section 3.4 Restrictions on
Certain Corporate Actions. From and after the date hereof to the IPO Date, the Corporation agrees that, so long as Canada Beneficially Owns at least 5% of the aggregate number of shares of Common Stock then issued and outstanding, without the
prior written consent of Canada, the Corporation will not take any action to effectuate any of the following: 
 (a) a sale of
all or substantially all of the assets of the Corporation (by merger or otherwise); 
 (b) any voluntary liquidation,
dissolution or winding up of the Corporation; or 
 (c) an issuance of Common Stock at a price per share less than fair market
value, as determined in good faith by the Board of Directors (other than pursuant to an employee benefit plan). 
 Section 3.5 Certificate Legends. Each Holder covenants and agrees that it will cooperate with the Corporation and take all action necessary to ensure that each certificate representing such Holder’s shares of Common Stock
and the Warrant shall conspicuously bear a legend in substantially the following form in addition to any other legend that may be required by the Corporation: 
 THIS INSTRUMENT IS ISSUED SUBJECT TO THE RESTRICTIONS ON TRANSFER AND OTHER PROVISIONS OF A STOCKHOLDERS AGREEMENT, DATED OCTOBER 15, 2009, AMONG THE ISSUER OF THESE SECURITIES AND THE INVESTORS REFERRED
TO THEREIN, COPIES OF WHICH ARE ON FILE WITH THE ISSUER. THE SECURITIES REPRESENTED BY THIS INSTRUMENT MAY NOT BE SOLD OR OTHERWISE TRANSFERRED EXCEPT IN COMPLIANCE WITH SAID AGREEMENT. ANY SALE OR OTHER TRANSFER NOT IN COMPLIANCE WITH SAID
AGREEMENT WILL BE VOID. 
 ARTICLE IV 
 VOTING AGREEMENT 
 Section 4.1 Government Holder Participation to
Establish Quorum. From and after the date hereof to and including the date of termination of this Agreement with respect to each Government Holder in accordance with Section 6.2, at any meeting (whether annual or special and each
adjournment or postponement thereof) of the Corporation’s stockholders, however called, to the extent required to establish a quorum at such meeting, such Government Holder will appear at such meeting or otherwise cause all shares of Common
Stock Beneficially Owned by such Government Holder as of the relevant time to be counted as present thereat for purposes of calculating a quorum. 
  

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 Section 4.2 Government Holder Agreement to Vote. Each Government Holder hereby
irrevocably and unconditionally agrees that: 
 (a) from and after the date hereof to and including the earlier to occur of
(i) the IPO Date or (ii) the date of termination of this Agreement with respect to such Government Holder in accordance with Section 6.2, at any meeting (whether annual or special and each adjournment or postponement thereof)
of the Corporation’s stockholders, however called, or in connection with any proposed action by written consent of the Corporation’s stockholders, such Government Holder may vote or cause to be voted (including by written consent, if
applicable) its Owned Shares on each matter presented to the stockholders of the Corporation, including the election of directors, in such manner as such Government Holder determines (i.e., “for,” “against,” “withheld”
or otherwise), provided that each Government Holder agrees to vote “for” any VEBA Nominee or Canada Nominee standing for election in accordance with Section 2.3 and Section 2.4, respectively; 
 (b) from and after the IPO Date to and including the date of termination of this Agreement with respect to such Government Holder in
accordance with Section 6.2, at any meeting (whether annual or special and each adjournment or postponement thereof) of the Corporation’s stockholders, however called, such Government Holder shall not vote and shall cause its Owned
Shares not to be voted, provided, however, that such Government Holder shall be permitted to vote or cause to be voted its Owned Shares: 
 (i) in a vote with respect to any removal of directors only “for,” “against” or “withhold” with respect to such removal; 
 (ii) in a vote with respect to any election of directors of the Corporation (whether at an annual meeting of the Corporation’s
stockholders, a special meeting of the Corporation’s stockholders called for the purpose of electing directors of the Corporation or at any adjournment or postponement thereof) only “for,” “against” or “withhold”
with respect to the election of any candidates or directors, as the case may be, that are (A) nominated by the Board, (B) nominated by third parties, or (C) nominated by either Government Holder pursuant to the Joint Slate Procedure,
provided that each Government Holder agrees to vote “for” the nominees jointly nominated pursuant to the Joint Slate Procedure, and provided further, that each Government Holder agrees to vote “for” any VEBA Nominee standing for
election in accordance with Section 2.3; 
 (iii) in a vote with respect to any Change of Control to be voted on by
the Corporation’s stockholders, “for” or “against” such Change of Control transaction; 
 (iv) in a
vote with respect to any amendment or modification to the Certificate of Incorporation or bylaws of the Corporation which would or may effect any of the matters set forth in Section 4.2(b)(i), (ii) or (iii), “for”
or “against” such amendment or modification; and 
 (v) on each other matter presented to the stockholders of the
Corporation, solely to the extent that the vote of the Government Holder is required for the

  

 11 

 
stockholders to take action at a meeting at which a quorum is present, in the same proportionate manner (either “for,” “against,” “withheld” or otherwise) as the
holders of Common Stock (other than UST, Canada, the VEBA and its Affiliates and the directors and Executive Officers of the Corporation) that were present and entitled to vote on such matter voted in connection with each such matter. 
 Section 4.3 VEBA Agreement to Vote. Notwithstanding anything else contained in this Agreement, the VEBA hereby irrevocably and
unconditionally agrees that from and after the date hereof and to and including the date of termination of this Agreement with respect to the VEBA in accordance with Section 6.2, at any meeting (whether annual or special and each
adjournment or postponement thereof) of the Corporation’s stockholders, however called, or in connection with any proposed action by written consent of the Corporation’s stockholders, the VEBA will (i) appear at such meeting or
otherwise cause all shares of Common Stock Beneficially Owned by the VEBA as of the relevant time (“VEBA Owned Shares”) to be counted as present thereat for purposes of calculating a quorum and (ii) vote or cause to be voted
(including by written consent, if applicable) such VEBA Owned Shares on each matter presented to the stockholders of the Corporation in the same proportionate manner (either “for,” “against,” “withheld” or otherwise) as
(x) in the case of any proposed stockholder action at a meeting of the Corporation’s stockholders, the holders of Common Stock (other than the VEBA and its Affiliates, and the directors and Executive Officers of the Corporation) that were
present and entitled to vote on such matter voted in connection with each such matter and (y) in the case of any proposed stockholder action by written consent taken prior to an IPO, all the holders of Common Stock (other than the VEBA and its
Affiliates, and the directors and Executive Officers of the Corporation) consented or did not consent in connection with each such matter. 
 Section 4.4 Irrevocable Proxy. This Section 4.4 is effective from and after the IPO Date to and including the date of termination of this Agreement. Each of UST, Canada and the
VEBA hereby revokes any and all previous Proxies or similar rights granted with respect to its Owned Shares. Subject to the last two sentences of this Section 4.4, upon the request of the Corporation and subject to applicable Law, each
of UST, Canada and the VEBA shall, or shall use its reasonable best efforts to cause any Person serving as the nominee (each, a “Nominee”) of such Holder with respect to its Owned Shares to, irrevocably appoint the Corporation or
its designee as its proxy to vote (or cause to be voted) its Owned Shares in accordance with Section 4.2(b)(v) or Section 4.3 hereof (as applicable). Such Proxy shall be irrevocable and coupled with an interest. In the event
that any such Nominee for any reason fails to irrevocably appoint the Corporation or its designee as UST’s, Canada’s or the VEBA’s Proxy in accordance with this Section 4.4, such Holder shall cause such Nominee to vote its
Owned Shares in accordance with Section 4.2(b)(v) or Section 4.3 hereof (as applicable). In the event that UST, Canada, the VEBA or any of their respective Nominees fails for any reason to vote its Owned Shares in accordance
with the applicable requirements of Section 4.2(b)(v) or Section 4.3 hereof (as applicable), then the Corporation or its designee shall have the right to vote such Holder’s Owned Shares (and withdraw any previous vote)
in accordance with Section 4.2(b)(v) or Section 4.3 hereof (as applicable). Subject to applicable Law, the vote of the Corporation or its designee shall control in the event of any conflict between the vote by the Corporation
or its designee of UST’s, Canada’s or the VEBA’s Owned Shares and a vote by such Holder (or any Nominee on behalf of such Holder) of its Owned Shares. Notwithstanding the foregoing, the

  

 12 

 
proxy granted by UST, Canada, the VEBA or any of their respective Nominees shall be automatically revoked upon termination of this Agreement with respect to such Holder in accordance with its
terms. 
 Section 4.5 Inconsistent Voting Agreements. Each of UST, Canada and the VEBA hereby agrees that it shall
not enter into any agreement, contract or understanding with any Person (prior to the termination of this Agreement with respect to such Holder) directly or indirectly to vote, grant a Proxy or power of attorney or give instructions with respect to
the voting of such its Owned Shares in any manner that is inconsistent with this Agreement. 
 ARTICLE V 
 OTHER AGREEMENTS 
 Section 5.1 Tag-Along Rights. (a) If at any time prior to the IPO, UST (for purposes of this Section 5.1, the “Selling Holder”) desires to sell any or all of its shares of Common Stock (other
than a Transfer to a Permitted Transferee), each of VEBA and Canada (for purposes of this Section 5.1, the “Co-Sale Holders”) which is not then in breach of this Agreement shall have the right to include a number of such
Co-Sale Holder’s shares of Common Stock in such contemplated sale, at the same price per share and upon the same terms and conditions to be paid and given to the Selling Holder, equal to the product (rounded up to the nearest whole number)
obtained by multiplying (i) the maximum number of shares of Common Stock that can be included in the contemplated sale and (ii) a fraction (A) the numerator of which is equal to the number of shares of Common Stock held by such
Co-Sale Holder and (B) the denominator of which is equal to the number of shares of Common Stock held, in the aggregate, by the Selling Holder and all Co-Sale Holders which elect to include their shares of Common Stock in such sale, in each
case exclusive of any shares of Common Stock that are subject to a previously executed binding sale agreement. 
 (b) The
Selling Holder shall give notice to each of the Co-Sale Holders of each proposed sale giving rise to the rights of the Co-Sale Holders set forth in Section 5.1(a) at least 20 Business Days prior to the proposed consummation of any such
sale, setting forth the number of shares of Common Stock proposed to be so sold (the “Sold Shares”), the name and address of the proposed transferee or transferees, the proposed amount and form of consideration and the terms and
conditions of payment offered by such proposed transferee or transferees, and a representation that the proposed transferee or transferees have been informed of the rights of co-sale provided for in this Section 5.1 (the “Co-Sale
Notice”). The rights of co-sale provided pursuant to this Section 5.1 must be exercised by any Co-Sale Holder within ten Business Days following receipt of the notice required by the preceding sentence, by delivery of a written
notice to the Selling Holder indicating such Co-Sale Holder’s desire to exercise its rights and specifying the number of shares of Common Stock (up to the maximum number of shares of Common Stock as provided in Section 5.1(a)). If
the proposed transferee or transferees fail to purchase shares of Common Stock from any Co-Sale Holder that has properly exercised its rights of co-sale under Section 5.1(a) on the terms specified above, then the Selling Holder shall not
be permitted to make the proposed sale. If none of the Co-Sale Holders gives such notice prior to the expiration of the ten Business Day period for giving such notice, then the Selling Holder may sell the Sold Shares to any Person on terms and
conditions that are no more favorable to the Selling Holder than those set forth in the Co-Sale Notice at any time within a period ending on

  

 13 

 
the later to occur of (x) 120 days following the expiration of such period for giving notice or (y) if a definitive agreement to sell the Sold Shares is entered into by the Selling
Holder within such 120-day period, the date on which all applicable approvals and consents of Governmental Authorities with respect to such proposed sale have been obtained and any applicable waiting period under Law have expired or been terminated.
If the Selling Holder has not consummated the proposed sale within the time period set forth in the immediately preceding sentence, then the Selling Holder shall not sell any such shares of Common Stock without again complying with this
Section 5.1. 
 (c) If any of the Co-Sale Holders exercise their rights under Section 5.1(a), the
closing of the purchase of the shares of Common Stock with respect to which such rights have been exercised shall take place concurrently with the closing of the sale of the Selling Holder’s interests. 
 (d) The provisions of this Section 5.1 shall not apply to any proposed sale by any Holder effected pursuant to the demand
registration or piggyback provisions of the Equity Registration Rights Agreement. 
 Section 5.2 Drag-Along Rights.

 (a) At any time prior to the IPO, if UST (for purposes of this Section 5.2, the “Electing
Holder”), determines to sell, in a single transaction or a series of related transactions, to an independent third party or parties (the “Drag-Along Buyer”), greater than 25% of the Initial Shares of Common Stock held by
the Electing Holder, the Electing Holder may require each of the VEBA and Canada (the “Non-Electing Holders”) to sell or cause to be sold up to a number of their shares of Common Stock as of such date in such transaction (by merger
or otherwise), equal to the product (rounded up to the nearest whole number) obtained by multiplying (i) the maximum number of shares of Common Stock to be included in the contemplated sale and (ii) a fraction (A) the numerator of
which is equal to the number of shares of Common Stock held by such Non-Electing Holder and (B) the denominator of which is equal to the number of shares of Common Stock held, in the aggregate, by the Electing Holder and all Non-Electing
Holders, to the Drag-Along Buyer, for the same consideration per share of Common Stock and on the same terms and conditions as the Electing Holder, subject to the provisions of this Section 5.2 (the “Compelled Sale”) and
to take such other actions with respect thereto as set forth in Section 5.2(b) below. 
 (b) The Corporation, if
instructed in writing by the Electing Holder, shall send written notice (the “Compelled Sale Notice”) of the exercise of the rights pursuant to this Section 5.2 to each of the Non-Electing Holders setting forth the
consideration per share of Common Stock to be paid pursuant to the Compelled Sale and the other terms and conditions of the transaction. Each Non-Electing Holder, upon receipt of the Compelled Sale Notice, will be obligated to (i) except in the
case of the VEBA, vote its shares of Common Stock in favor of such Compelled Sale at any meeting of stockholders of the Corporation called to vote on or approve such Compelled Sale (or any written consent solicited for such purpose), (ii) sell
the requisite number of its shares of Common Stock, and participate in the Compelled Sale and (iii) otherwise take all necessary action, including, without limitation, expressly waiving any dissenter’s rights or rights of appraisal or
similar rights, providing access to documents and

  

 14 

 
records of the Corporation, entering into an agreement reflecting the terms of the Compelled Sale (although Non-Electing Holders shall not be required to provide representations, warranties and
indemnities other than concerning each such Holder’s valid ownership of its shares of Common Stock free of all liens, and each such Holder’s authority, power and right to enter into and consummate the Compelled Sale without violating any
other agreement), surrendering certificates or other instruments representing the shares of Common Stock, duly authorized for transfer or accompanied by a duly executed stock power, cooperating in obtaining any applicable Governmental Approval and
otherwise to cause the Corporation to consummate such Compelled Sale. Any such Compelled Sale Notice may be rescinded by the Electing Holder at any time prior to the execution of any agreement with respect to a Compelled Sale by delivering written
notice thereof to the Corporation and all of the Non-Electing Holders. 
 (c) The obligations of the Non-Electing Holders
pursuant to this Section 5.2 are subject to the satisfaction of the following conditions: 
 (i) in the event that
the Non-Electing Holders are required to provide the representations, warranties or indemnities in connection with the Compelled Sale described in Section 5.2(b) above, then, each such Holder (A) will not be liable for more than the
lesser of (x) its pro rata share of such indemnification payments (based upon the total consideration received by such Holder divided by the total consideration received by all sellers in such Compelled Sale) and (y) the total proceeds
actually received by such Holder as consideration for its shares of Common Stock in such Compelled Sale, and (B) such liability shall be several and not joint with any other Person; and 
 (ii) if any Holder is given an option as to the form and amount of consideration to be received, each other Holder shall be given the same
option. 
 (d) Each Holder shall be obligated to pay his, her or its pro rata share of the expenses incurred in connection with
a consummated Compelled Sale (based upon the total consideration received by such Holder divided by the total consideration received by all sellers in such Compelled Sale) to the extent such costs are incurred for the benefit of all Holders and are
not otherwise paid by the Corporation or the acquiring party (costs incurred by or on behalf of a Holder for his, her or its sole benefit will not be considered costs of the transaction hereunder). 
 (e) If any Holder fails to sell to the Drag-Along Buyer its shares of Common Stock to be sold pursuant to this Section 5.2, each
Holder agrees that the Board shall cause such shares of Common Stock to be sold to the Drag-Along Buyer on the Corporation’s books in consideration of the purchase price, and such Drag-Along Holder’s pro rata portion of the purchase price
may be held in escrow, without interest, until such time as he, she or it takes such actions as the Board may reasonably request in connection with the transaction. 
 Section 5.3 Preemptive Rights. 
 (a) At any time prior to the IPO (and
not including the IPO itself), the Corporation shall not issue any shares of Common Stock unless, prior to such issuance, the Corporation offers such shares of Common Stock to each Holder at the same price per share and upon the same terms and
conditions. 
  

 15 

 (b) Not less than 20 Business Days prior to the closing of such offering (the
“Preemptive Rights Period”), the Corporation shall send a written notice to each Holder stating the number of shares of Common Stock to be offered (the “Preemptive Rights Shares”), the proposed closing date and the
price and terms on which it proposes to offer such shares of Common Stock. 
 (c) Within 10 Business Days after the receipt of
the notice pursuant to Section 5.3(b), each Holder may elect, by written notice to the Corporation to purchase shares of Common Stock of the Corporation, at the price and on the terms specified in such notice, up to an amount equal to
the product obtained by multiplying (x) the total number of shares of Common Stock to be issued by (y) a fraction, (A) the numerator of which is the number of shares of Common Stock held by such Holder and (B) the denominator of
which is the number of total outstanding shares of Common Stock. 
 (d) The closing of any such purchase of shares of Common
Stock by such Holder pursuant to this Section 5.3(d) shall occur concurrently with the closing of the proposed issuance, as applicable, subject to adjustment to obtain any necessary Governmental Approval. 
 (e) Upon the expiration of the Preemptive Rights Period, the Corporation shall be entitled to sell such Preemptive Rights Shares that the
Holders have not elected to purchase for a period ending 120 days following the expiration of the Preemptive Rights Period on terms and conditions not materially more favorable to the purchasers thereof than those offered to the Holders. Any
Preemptive Rights Shares to be sold by the Corporation following the expiration of such period must be reoffered to the Holders pursuant to the terms of this Section 5.3 or if any such agreement to Transfer is terminated. 
 (f) The provisions of this Section 5.3 shall not apply to the following issuances of shares of Common Stock: 
 (i) incentive shares of Common Stock issued to or for the benefit of employees, officers, directors and other service providers of or to
the Corporation or any subsidiary of the Corporation in accordance with the terms hereof or any applicable incentive plan of the Corporation; 
 (ii) securities issued upon conversion of convertible or exchangeable securities (including warrants) of the Corporation or any of its subsidiaries that are outstanding as of the date of this Agreement or
were not issued in violation of this Section 5.3; and 
 (iii) a subdivision of shares of Common Stock (including
any share distribution or split), any combination of shares of Common Stock (including any reverse share split), shares issued as a dividend or other distribution on the shares of Common Stock or any recapitalization, reorganization,
reclassification or conversion of the Corporation or any of its subsidiaries. 
  

 16 

 Section 5.4 Information Rights. 
 (a) For so long as UST Beneficially Owns at least ten percent (10%) of the aggregate number of shares of Common Stock then issued and
outstanding, the Corporation shall deliver to UST: 
 (i) all financial statements, budgets, reports, liquidity statements,
materials, data and other information required to be delivered to UST pursuant to Section 5 of the UST Secured Credit Agreement (provided that, if and for so long as the Corporation has complied with the applicable covenants under
Section 5 of the UST Secured Credit Agreement, the Corporation shall be deemed to have satisfied this Section 5.4(a)(i)); 
 (ii) a monthly report in form and substance reasonably satisfactory to UST, the contents of which shall be reasonably specified by UST to the Corporation from time to time; 
 (iii) from time to time such other information regarding the financial condition, operations, or business of the Corporation as UST may
reasonably request; and 
 (iv) copies of all other information that the Corporation delivers to the Debtor, in its capacity as
a shareholder of the Corporation. 
 provided that, for so long as Canada Beneficially Owns at least ten percent (10%) of the aggregate
number of shares of Common Stock then issued and outstanding, the Corporation shall deliver to Canada copies of all information that the Corporation delivers to UST pursuant to Section 5.4(a)(i), (ii), (iii) and (iv) hereof.

 (b) Prior to the IPO Date, the Corporation shall deliver to the VEBA (whether or not the notes issued pursuant to the VEBA
Secured Note Agreement are then outstanding): 
 (i) all financial statements, budgets, reports, liquidity statements,
materials, data and other information required to be delivered to the VEBA pursuant to Section 5.1 of the VEBA Secured Note Agreement (provided that, if and for so long as the Corporation has complied with the applicable covenants under
Section 5.1 of the VEBA Secured Note Agreement, the Corporation shall be deemed to have satisfied this Section 5.4(b)(i)); and 
 (ii) copies of all other information that the Corporation delivers to the Debtor, in its capacity as a shareholder of the Corporation. 
 ARTICLE VI 
 MISCELLANEOUS 
 Section 6.1 Notices. Any notice, request, instruction, consent, document or other communication required or permitted to be
given under this Agreement shall be in writing and shall be deemed to have been sufficiently given or served for all purposes (a) upon delivery when personally delivered; (b) on the later of the scheduled delivery date or the first
Business Day following such delivery date (if scheduled for delivery on a day that is not a Business Day) after having been sent by a nationally or internationally recognized overnight courier service (charges

  

 17 

 
prepaid); (c) at the time received when sent by registered or certified mail, return receipt requested, postage prepaid; or (d) at the time when confirmation of successful transmission
is received (or the first Business Day following such receipt if the date of such receipt is not a Business Day) if sent by facsimile, in each case, to the recipient at the address or facsimile number, as applicable, indicated below: 
  

			
	If to the Corporation or the Operating Company:
		
		  	General Motors Holding Company (to be renamed General Motors Company)
		  	300 Renaissance Center
		  	Detroit, MI 48265-3000
		  	482-C25-A36
		  	Attention: Anne T. Larin
		  	Fax: (248) 267-4331
		
		  	with a copy to:
		
		  	Cadwalader, Wickersham & Taft LLP
		  	One World Financial Center
		  	New York, New York 10281
		  	Attention: John J. Rapisardi
		  	                 R. Ronald Hopkinson
		  	Fax: (212) 504-6666
		
	If to UST:	  	
		
		  	The United States Department of the Treasury
		  	1500 Pennsylvania Avenue, NW
		  	Washington, D.C. 20220
		  	Attention: Chief Counsel Office of Financial Stability
		  	Facsimile: (202) 927-9225
		  	Email: OFSChiefCounselNotices@do.treas.gov
		
	If to Canada:	  	
		
		  	7176384 Canada Inc.
		  	1235 Bay Street, Suite 400
		  	Toronto, ON M5R 3K4
		  	Attention: Mr. Michael Carter
		  	Fax: (416) 934-5009

  

 18 

			
		  	with a copy to:
		
		  	Torys LLP
		  	79 Wellington Street, West, Suite 3000
		  	Toronto, ON M5K 1N2
		  	Attention: Patrice S. Walch-Watson
		  	Fax: (416) 865-7380
		  	Email: PWalch-Watson@torys.com
		
	If to the VEBA:	  	
		
		  	UAW Retiree Medical Benefits Trust
		  	P.O. Box 14309
		  	Detroit, MI 48214
		  	Attention: Bob Naftaly
		  	Fax: (313) 926-4065
		
		  	with a copy to:
		
		  	Cleary Gottlieb Steen & Hamilton LLP
		  	One Liberty Plaza
		  	New York, NY 10006
		  	Attention: Richard S. Lincer
		  	David I. Gottlieb
		  	Fax: (212) 225-3999

 provided, however, if any party shall have designated a different addressee and/or contact
information by notice in accordance with this Section 6.1, then to the last addressee as so designated. 
 Section 6.2 Termination. All rights, restrictions and obligations hereunder shall terminate with respect to a Holder, and this Agreement shall have no further force and effect upon such Holder, when such Holder Beneficially Owns
less than 2% of the aggregate number of shares of Common Stock then issued and outstanding; provided, that all rights and obligations under this Article VI shall continue in perpetuity. 
 Section 6.3 Authority. Each of the parties hereto represents to the other that (a) it has the corporate or other
organizational power and authority to execute, deliver and perform this Agreement, (b) the execution, delivery and performance of this Agreement by it has been duly authorized by all necessary corporate or organizational action and no such
further action is required, (c) it has duly and validly executed and delivered this Agreement, and (d) this Agreement is a legal, valid and binding obligation, enforceable against it in accordance with its terms subject to applicable
bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and general equity principles. 
 Section 6.4 No Third Party Beneficiaries. This Agreement shall be for the sole and exclusive benefit of (i) the Corporation and its successors and permitted assigns, (ii) each Holder
(including any trustee thereof) and any other investment manager or managers acting on behalf of such Holder with respect to the Common Stock and their respective successors and permitted assigns, and (iii) the UAW. Nothing in this Agreement
shall be construed to give any other Person any legal or equitable right, remedy or claim under this Agreement. 
  

 19 

 Section 6.5 No Personal Liability by the VEBA Signatory. It is expressly
understood and agreed by the parties hereto that this Agreement is being executed and delivered by the signatory on behalf of the VEBA not individually or personally but solely in his capacity as Chairman of the Committee of the VEBA in the exercise
of the powers and authority conferred and vested in him in such capacity and under no circumstances shall the signatory have any personal liability in an individual capacity in connection with this Agreement or any transaction contemplated hereby.

 Section 6.6 Cooperation. Each party hereto shall take such further action, and execute such additional documents,
as may be reasonably requested by any other party hereto in order to carry out the purposes of this Agreement. 
 Section 6.7 Governing Law; Forum Selection. This Agreement shall be governed by and construed and interpreted in accordance with the laws of the State of Delaware. Any action or proceeding against the parties relating in any way
to this Agreement may be brought and enforced exclusively in the courts of the State of New York located in the Borough of Manhattan or (to the extent subject matter jurisdiction exists therefor) the U.S. District Court for the Southern District of
New York, and the parties irrevocably submit to the jurisdiction of both courts in respect of any such action or proceeding. 
 Section 6.8 WAIVER OF JURY TRIAL. EACH PARTY WAIVES THE RIGHT TO A TRIAL BY JURY IN ANY DISPUTE IN CONNECTION WITH OR RELATING TO THIS AGREEMENT OR ANY MATTERS DESCRIBED OR CONTEMPLATED HEREIN, AND AGREES TO TAKE ANY AND ALL
ACTION NECESSARY OR APPROPRIATE TO EFFECT SUCH WAIVER. 
 Section 6.9 Assignment; Successors and Assigns. Neither
this Agreement nor any of the rights, interests or obligations provided by this Agreement may be assigned by any party (whether by operation of law or otherwise), other than an assignment to a Permitted Transferee in connection with a Transfer made
in accordance with this Agreement, without the prior written consent of the other parties, and any such assignment without such prior written consent shall be null and void. Subject to the preceding sentence and except as otherwise expressly
provided herein, this Agreement shall be binding upon and benefit the Corporation and each Holder. Except for a Permitted Transferee, no purchaser or recipient of shares of Common Stock from a Holder shall have any rights under this Agreement.

 Section 6.10 After Acquired Securities. All of the provisions of this Agreement shall apply to all of the Voting
Securities now Beneficially Owned or that may be issued or Transferred hereafter to any Holder hereto in consequence of any additional issuance, purchase, exchange or reclassification of any of the Voting Securities, corporate reorganization, or any
other form or recapitalization, consolidation, merger, share split or share divide, or that are acquired by a Holder in any other manner. 
  

 20 

 Section 6.11 Entire Agreement. This Agreement (together with the Annex) contains
the final, exclusive and entire agreement and understanding of the parties with respect to the subject matter hereof and thereof and supersedes all prior and contemporaneous agreements and understandings, whether written or oral, among the parties
with respect to the subject matter hereof and thereof. This Agreement shall not be deemed to contain or imply any restriction, covenant, representation, warranty, agreement or undertaking of any party with respect to the transactions contemplated
hereby or thereby other than those expressly set forth herein or therein, and none shall be deemed to exist or be inferred with respect to the subject matter hereof. 
 Section 6.12 Severability. Whenever possible, each term and provision of this Agreement will be interpreted in such manner as to be effective and valid under law. If any term or provision of
this Agreement, or the application thereof to any Person or any circumstance, is held to be illegal, invalid or unenforceable, (a) a suitable and equitable provision shall be substituted therefor in order to carry out, so far as may be legal,
valid and enforceable, the intent and purpose of such illegal, invalid or unenforceable provision and (b) the remainder of this Agreement or such term or provision and the application of such term or provision to other Persons or circumstances
shall remain in full force and effect and shall not be affected by such illegality, invalidity or unenforceability, nor shall such invalidity or unenforceability affect the legality, validity or enforceability of such term or provision, or the
application thereof, in any jurisdiction. 
 Section 6.13 Enforcement of this Agreement. The parties agree that
irreparable damage would occur in the event that any provision of this Agreement were not performed in accordance with its specific terms or were otherwise breached. It is accordingly agreed that the parties shall, without the posting of a bond, be
entitled, subject to a determination by a court of competent jurisdiction, to an injunction or injunctions to prevent any such failure of performance under, or breaches of, this Agreement, and to enforce specifically the terms and provisions hereof
and thereof, this being in addition to all other remedies available at law or in equity, and each party agrees that it will not oppose the granting of such relief on the basis that the requesting party has an adequate remedy at law. 
 Section 6.14 Amendment. This Agreement may not be amended, modified or supplemented except upon the execution and delivery of a
written agreement executed by a duly authorized representative or officer of each of the parties. 
 Section 6.15
Headings. The descriptive headings of the Articles, Sections and paragraphs of, and the Annex to, this Agreement are included for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit, modify or affect any
of the provisions hereof. 
 Section 6.16 Counterparts; Facsimiles. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original, and all of which taken together shall constitute one and the same Agreement. All signatures of the parties may be transmitted by facsimile or electronic delivery, and each such facsimile
signature or electronic delivery signature (including a pdf signature) will, for all purposes, be deemed to be the original signature of the party whose signature it reproduces and be binding upon such party. 
  

 21 

 Section 6.17 UST. Notwithstanding anything in this Agreement to the contrary,
UST shall only be bound by this Agreement in its capacity as stockholder and nothing in this Agreement shall be binding on or create any obligation on the part of UST in any other capacity or any branch or agency of the United States Government or
subdivision thereof. 
 Section 6.18 Canada. Notwithstanding anything in this Agreement to the contrary, Canada
shall only be bound by this Agreement in its capacity as stockholder and nothing in this Agreement shall be binding on or create any obligation on the part of Canada in any other capacity or any branch or agency of the Canadian Government or
subdivision thereof. 
 Section 6.19 Time Periods. Unless otherwise specified in this Agreement, an action required
under this Agreement to be taken within a certain number of days shall be taken within that number of calendar days (and not Business Days); provided, however, that if the last day for taking such action falls on a day that is not a Business Day,
the period during which such action may be taken shall be automatically extended to the next Business Day. 
 Section 6.20 Termination of Operating Company Stockholders Agreement; Waiver. The Operating Company, each of the Government Holders and the VEBA acknowledges and agrees that, simultaneously with the execution of this Agreement,
the Operating Company Stockholders Agreement is terminated in all respects, all the claims, remedies, rights and privileges granted therein are relinquished and surrendered, and all obligations and duties owed or required to be performed thereunder
are waived and released. 
 [Remainder of the page intentionally blank] 
  

 22 

 IN WITNESS WHEREOF, the parties hereto, being duly authorized, have executed and
delivered this Stockholders Agreement on the date first above written. 
  

			
	GENERAL MOTORS HOLDING COMPANY
		
	By:	 	 /s/ Niharika Ramdev

	Name:	 	Niharika Ramdev
	Title:	 	Assistant Treasurer
	
	THE UNITED STATES DEPARTMENT OF THE TREASURY
		
	By:	 	 /s/ Herbert M. Allison, Jr.

	Name:	 	Herbert M. Allison, Jr.
	Title:	 	Assistant Secretary for Financial Stability
	
	7176384 CANADA INC.
		
	By:	 	 /s/ N. William C. Ross

	Name:	 	N. William C. Ross
	Title:	 	Director
		
	By:	 	 /s/ Michael F.K. Carter

	Name:	 	Michael F.K. Carter
	Title:	 	Director
	
	UAW RETIREE MEDICAL BENEFITS TRUST
		
	By:	 	 /s/ Robert Naftaly

	Name:	 	Robert Naftaly
	Title:	 	 Chairman of the Committee of the UAW
 Retiree Medical Benefits Trust

 SIGNATURE PAGE TO
THE STOCKHOLDERS AGREEMENT 

			
	 Solely for purposes of Section 6.20:

	
	GENERAL MOTORS COMPANY
		
	 By:
	 	 /s/ Niharika Ramdev

	 Name:
	 	Niharika Ramdev
	 Title:
	 	Assistant Treasurer

 CONTINUATION OF SIGNATURE
PAGE TO THE STOCKHOLDERS AGREEMENT 

 Annex I 
  

					
	 Holder
	 	 Number of Initial Shares of
 Common Stock
	 	 Number of Initial Shares of
 Series A Preferred Stock

	 UST
	 	304,131,356	 	83,898,305
	 Canada
	 	58,368,644	 	16,101,695
	 VEBA
	 	87,500,000	 	260,000,000
	 Total:
	 	450,000,000	 	360,000,000

  

			
	 Holder
	  	 Number of Shares of Common
 Stock for which Warrant is
 Exercisable

	 VEBA
	  	15,151,515Form of Warrant

 Exhibit 4.1 
 THIS COMMON STOCK PURCHASE WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 ACT, AS AMENDED (THE “1933 ACT”). THE HOLDER HEREOF, BY PURCHASING THIS COMMON STOCK PURCHASE
WARRANT, AGREES FOR THE BENEFIT OF THE COMPANY THAT SUCH SECURITIES MAY BE OFFERED, SOLD OR OTHERWISE TRANSFERRED ONLY (A) TO THE COMPANY, (B) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE 1933 ACT, OR (C) IF REGISTERED UNDER
THE 1933 ACT AND ANY APPLICABLE STATE SECURITIES LAWS. 
  
  
 DYNAMIC RESPONSE
GROUP, INC. 
 COMMON STOCK PURCHASE WARRANT 
 Number of shares:
                                        
        Holder:                      
 Expiration Date: August 31, 2010 
 Exercise Price per Share:
$            
                                         
                                         
          Warrant No.              
 DYNAMIC RESPONSE GROUP, INC., a company organized and existing under the laws of the State of Florida (the “Company”), hereby certifies that, for value received,
                    , or its registered assigns (the “Warrant Holder”), is entitled, subject to the terms set forth below, to
purchase from the Company             shares (the “Warrant Shares”) of common stock, $0.0001 par value (the “Common Stock”), of the Company (each such share, a
“Warrant Share” and all such shares, the “Warrant Shares”) in exchange for (a) one (1) Warrant and (b) $             per share (as adjusted from
time to time as provided in Section 6, per Warrant Share (the “Exercise Price”), at any time and from time to time from and after the date thereof and through and including 5:00 p.m. New York City time on August 31, 2010
(the “Expiration Date”), and subject to the following terms and conditions: 
 1. Registration of
Warrant. The Company shall register this Warrant upon records to be maintained by the Company for that purpose (the “Warrant Register”), in the name of the record Warrant Holder hereof from time to time. The Company may deem and treat
the registered Warrant Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or nay distribution to the Warrant Holder, and for all other purposes, and the Company shall not be affected by notice to the contrary.

 2. Investment Representation. The Warrant Holder by accepting this Warrant
represents that the Warrant Holder is acquiring this Warrant for its own account or the account of an affiliate for investment purposes and not with the view to any offering or distribution and that the Warrant Holder will not sell or otherwise
dispose of this Warrant or the underlying Warrant Shares in violation of applicable securities laws. The Warrant Holder acknowledges that the certificates representing any Warrant Shares will bear a legend indicating that they have not been
registered under the United States Securities Act of 1933, as amended (the “1933 Act”) and may not be sold by the Warrant Holder except pursuant to an effective registration statement or pursuant to an exemption from registration
requirements of the 1933 Act and in accordance with federal and state securities laws. If this Warrant was acquired by the Warrant Holder pursuant to the exemption from the registration requirements of the 1933 Act afforded by Regulation S
thereunder, the Warrant Holder acknowledges and covenants that this Warrant may not be exercised by or on behalf of a Person during the one year distribution compliance period (as defined in Regulation S) following the date hereof.
“Person” means an individual, partnership, firm, Limited Liability Company, trust, joint venture, association, corporation, or any other legal entity. 
 3. Validity of Warrant and Issue of Shares. The Company represents and warrants that this Warrant has been duly authorized and validly issued and warrants and agrees that all of Common Stock
that may be issued upon the exercise of the rights represented by this Warrant will, when issued upon such exercise, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges with respect to the
issue thereof. The Company further warrants and agrees that during the period within which the rights represented by this Warrant may be exercised, the Company will at all times have authorized and reserved a sufficient number of Common Stock to
provide for the exercise of the rights represented by this Warrant. 
 4. Registration of Transfers and Exchange of Warrants.

 a. Subject to compliance with the legend set forth on the face of this Warrant, the Company shall
register the transfer of any portion of this Warrant in the Warrant in the Warrant Register, upon surrender of this Warrant with the Form of Assignment attached hereto duly completed and signed, to the Company at the office specified in or pursuant
to Section 8. Upon any such registration or transfer, a new warrant to purchase Common Stock, in substantially the form of this Warrant (any such new warrant, a “New Warrant”), evidencing the portion of this Warrant so transferred
shall be issued to the transferee and a New Warrant evidencing the remaining portion of this Warrant not so transferred, if any, shall be issued to the transferring Warrant Holder. The acceptance of the New Warrant by the transferee thereof shall be
deemed the acceptance of such transferee of all of the rights and obligations of a Warrant Holder of a Warrant. 
 b. This Warrant is exchangeable, upon the surrender hereof by the Warrant Holder to the office of the Company specified in or pursuant to Section 8 for one or more New Warrants, evidencing in the aggregate the right to purchase
the number of Warrant Shares which may then be purchased hereunder. Any such New Warrant will be dated the date of such exchange. 

 5. Exercise of Warrants. 
 a. Upon surrender of this Warrant with the Form of Election to Purchase attached hereto duly completed and signed to
the Company, at its address set forth in Section 8, and upon payment and delivery of the Exercise Price per Warrant Share multiplied by the number of Warrant Shares that the Warrant Holder intends to purchase hereunder, in lawful money of the
United States of America, in cash or by certified or official bank check or checks, to the Company, all as specified by the Warrant Holder in the Form of Election to Purchase, the Company shall promptly (but in no event later than 5 business days
after the Date of Exercise as defined herein) issue or cause to be issued and cause to be delivered to or upon the written order of the Warrant Holder and in such name or names as the Warrant Holder may designate (subject to the restrictions on
transfer described in the legend set forth on the face of this Warrant), a certificate for the Warrant Shares issuable upon such exercise, with such restrictive legend as required by the 1933 Act. Any person so designated by the Warrant Holder to
receive Warrant Shares shall be deemed to have become holder of record of such Warrant Shares as of the Date of Exercise of this Warrant. 
 b. A “Date of Exercise” means the date on which the Company shall have received (i) this Warrant (or any New Warrant, as applicable), with the Form of Election to Purchase attached
hereto (or attached to such New Warrant) appropriately completed and duly signed, and (ii) payment of the Exercise Price for the number of Warrant Shares so indicated by the Warrant Holder to be purchased. 
 c. This Warrant shall be exercisable at any time and from time to time for such number of Warrant Shares as is
indicated in the attached Form of Election to Purchase. If less than all of the Warrant Shares which may be purchased under this Warrant are exercised at any time, the Company shall issue or cause to be issued, at its expense, a New Warrant
evidencing the right to purchase the remaining number of Warrant Shares for which no exercise has been evidenced by this Warrant. 
 6. Adjustment of Exercise Price and Number of Shares. The character of the shares of stock or other securities at the time issuable upon exercise of this Warrant and the Exercise Price therefor, are subject to adjustment upon
the occurrence of the following events: 
 a. Adjustment for Stock Splits, Stock Dividends, Recapitalizations,
Etc. The Exercise Price of this Warrant and the number of shares of Common Stock or other securities at the time issuable upon exercise of this Warrant shall be appropriately adjusted to reflect any stock dividend, stock split, combination of
shares, reclassification, recapitalization or other similar event affecting the number of outstanding shares of stock or securities. 
 b. Adjustment for Reorganization, Consolidation, Merger, Etc. In case of any consolidation or merger of the Company with or into any other corporation, entity or person, or any other corporate
reorganization, in which the Company shall not be the continuing or surviving entity of such consolidation, merger or reorganization (any such transaction being hereinafter referred to as a “Reorganization”), then, in each case, the holder
of this Warrant, on exercise hereof at any time after the consummation or effective date of such Reorganization (the “Effective Date”), shall receive, in lieu of the shares of stock or other securities at

 
any time issuable upon the exercise of the Warrant issuable on such exercise prior to the Effective Date, the stock and other securities and property (including cash) to which such holder would
have been entitled upon the Effective Date if such holder had exercised this Warrant immediately prior thereto (all subject to further adjustment as provided in this Warrant). 
 c. Certificate as to Adjustments. In case of any adjustment or readjustment in the price or kind of securities
issuable on the exercise of this Warrant, the Company will promptly give written notice thereof to the holder of this Warrant in the form of a certificate, certified and confirmed by the Board of Directors of the Company, setting forth such
adjustment or readjustment and showing in reasonable detail the facts upon which such adjustment or readjustment is based. 
 7. Fractional Shares. The Company shall not be required to issue or cause to be issued fractional Warrant Shares on the exercise of this Warrant. The number of full Warrant Shares that shall be issuable upon the exercise of
this Warrant shall be computed on the basis of the aggregate number of Warrants Shares purchasable on exercise of this Warrant so presented. If any fraction of a Warrant Share would, except for the provisions of this Section 7, be issuable on
the exercise of this Warrant, the Company shall, at its option, (i) pay an amount in cash equal to the Exercise Price multiplied by such fraction or (ii) round the number of Warrant Shares issuable, up to the next whole number. 

8. Notice. All notices and other communications hereunder shall be in writing and shall be deemed to have been given
(i) on the date they are delivered if delivered in person; (ii) on the date initially received if delivered by facsimile transmission followed by registered or certified mail confirmation; (iii) on the date delivered by an overnight
courier service; or (iv) on the third business day after it is mailed by registered or certified mail, return receipt requested with postage and other fees prepaid as follows: 
 If to the Company: 
     DYNAMIC RESPONSE GROUP, INC. 
     Attn: Melissa K. Rice 
     Chief Executive Officer 
     4770 Biscayne Boulevard, Suite 780 
     Miami, FL 33137 
 If to the Warrant Holder:

     To the address in this Warrant or to the address provided to the Company by an Investor. 

 9. Miscellaneous. 
 a. This Warrant shall be binding on and inure to the benefit of the parties hereto and their respective successors and
permitted assigns. This Warrant may be amended only in writing and signed by the Company and the Warrant Holder. 
 b. Nothing in this Warrant shall be construed to give to any person or corporation other than the Company and the Warrant Holder any legal or equitable right, remedy or cause of action under this Warrant; this Warrant shall be for
the sole and exclusive benefit of the Company and the Warrant Holder. 
 c. This Warrant shall be governed
by, construed and enforced in accordance with the internal laws of the Commonwealth of Florida without regard to the principles of conflicts of law thereof. 
 d. The headings herein are for convenience only, do not constitute a part of this Warrant and shall not be deemed to
limit or affect any of the provisions hereof. 
 e. In case any one or more of the provisions of this
Warrant shall be invalid or unenforceable in any respect, the validity and enforceablilty of the remaining terms and provisions of this Warrant shall not in any way be affected or impaired thereby and the parties will attempt in good faith to agree
upon a valid and enforceable provision which shall be a commercially reasonably substitute therefore, and upon so agreeing, shall incorporate such substitute provision in this Warrant. 
 f. The Warrant Holder shall not, by virtue hereof, be entitled to any voting or other rights of a shareholder of the
Company, either at law or equity, and the rights of the Warrant Holder are limited to those expressed in this Warrant. 
 [-Signature page follows-] 

 IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by the
authorized officer as of the date first above stated. 
  

			
	DYNAMIC RESPONSE GROUP, INC.
		
	By:	 	 
		 	 Melissa K. Rice
 Chief
Executive Officer

 FORM OF ELECTION TO PURCHASE 
 (To be executed by the Warrant Holder to exercise the right to purchase shares of Common Stock under the foregoing Warrant) 
 To: DYNAMIC RESPONSE GROUP, INC. 
 In accordance
with the Warrant enclosed with this Form of Election to Purchase, the undersigned hereby irrevocably elects to purchase
                             shares of Common Stock (“Common Stock”), $0.0001 par value, of
DYNAMIC RESPONSE GROUP, INC. and encloses one warrant and $                     for each Warrant Share being purchased or an aggregate of
$                     in cash or certified or official bank check or checks, which sum represents the aggregate Exercise Price (as defined in
the Warrant) together with any applicable taxes payable by the undersigned pursuant to the Warrant. 
 The undersigned requests that
certificates for the shares of Common Stock issuable upon this exercise be issued in the name of: 
 __________________________________________

 (Please print name and address) 
 __________________________________________ 
 (Please insert Social Security or Tax Identification Number) 
 If the number of shares of Common Stock issuable upon this exercise shall not be all of the shares of Common Stock which the undersigned is entitled to
purchase in accordance with the enclosed Warrant, the undersigned requests that a New Warrant (as defined in the Warrant) evidencing the right to purchase the shares of Common Stock not issuable pursuant to the exercise evidenced hereby be issued in
the name of and delivered to: 
 __________________________________________ 
 (Please print name and address) 
  

									
	Dated: ___________________	 		 	Name of Warrant Holder:
					
		 		 		 	(Print)	 	 
					
		 		 		 	(By:)	 	 
					
		 		 		 	(Name:)	 	 
					
		 		 		 	(Title:)	 	 
				
		 		 		 	Signature must conform in all respects to name of Warrant Holder on the face of the Warrant

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