Document:

Award Agreement for Incentive Restricted Stock Units

 Exhibit 10.33 

 

 

 GMAC Long-Term Incentive Plan LLC 
 200 Renaissance Center, M/C482-B14-D46, Detroit, MI. 48265 
 December 31, 2009 
 Sanjay Gupta 
 Re: GMAC Long-Term Incentive Plan LLC Long-Term Equity Compensation Incentive Plan  
 Dear
Sanjay: 
  

	1.	You have been granted an Award under the GMAC Long-Term Incentive Plan LLC Long-Term Equity Compensation Incentive Plan (the “Plan”). The grant date of your
Award is December 31, 2009 (“Grant Date”). A copy of the Plan is attached. Capitalized terms not defined in this Award Letter will have the meanings as defined in the Plan. 

  

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

  

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

 Nancy Bechtel 
 nancy.bechtel@gmacfs.com 
 (313) 656-3856 
 If you do not sign and return this Award Letter within 30 days of the date of this Award Letter, or January 30, 2010, then we will
assume that you do not want this Award, and this Award will be null and void and without any further force or effect. 
  

	4.	Subject to requirements of any Federal laws or regulations that may govern executive compensation, including but not limited to Title VII of the American Recovery and
Reinvestment Act of 2009 and the Troubled Asset Relief Program, your Award is an RSU Award with 2.082 bps. Because Title VII of the American Recovery and Reinvestment Act of 2009 currently limits the value of restricted stock that may be
awarded to certain executives, the Committee reserves the right to adjust down the bps percentage underlying this Award without your consent in order to comply with Federal law. If and when such an adjustment may be required, you will be notified in
writing. 

  

	5.	Subject to requirements of any Federal laws or regulations that may govern executive compensation, including but not limited to Title VII of the American Recovery and
Reinvestment Act of 2009 and the Troubled Asset Relief Program, your RSU Award fully Vests on December 23, 2012 (“Vesting Date”), and will be Paid on the later of the following. 

  

 Page 1 of 2 

 Sanjay Gupta 
 December 31, 2009 
  

	 	•	 	 Within 75 days of the Vesting Date 

  

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

  

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

  

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

  

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

  

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

  

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

  

	
	Sincerely yours,
	
	

	Anthony S. Marino
	GMAC Group VP and Chief HR Officer
	December 31, 2009

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

			
	 /S/ SANJAY GUPTA
	 	1/20/2010
	Participant Signature (Required)	 	Date (Required)
		
	 Sanjay Gupta
	 	
	Printed Name (Required)	 	

  

 Page 2 of 2Award Agreement for long-term Deferred Stock Units

 Exhibit 10.34 

 

 

 GMAC Inc. 
 200 Renaissance Center, M/C482-B14-D46, Detroit, MI. 48265 
 December 19, 2009 
 Thomas Marano 
 Re: GMAC Inc. Deferred Stock
Units  
 Dear Tom: 
 As a result
of a recent determination from the Office of the Special Master for TARP Executive Compensation, effective in the pay advice you will receive on December 24, 2009 (the “Investment Date”), a portion of your annualized 2009 cash
compensation, $3,509,000, will be deferred and invested in Deferred Stock Units (DSUs) as described below. Additionally, your final auto allowance payment under the existing program ($923) will be made in DSUs. 
 This form of compensation remains subject to revision at any time in order to comply with any Federal law or regulation that may govern executive
compensation, including but not limited to Title VII of the American Recovery and Reinvestment Act of 2009, the Interim final Rules issued pursuant to this law, and the Troubled Asset Relief Program (collectively the “TARP Rules”).
Additionally, the components of your total compensation, as well as the allocation of your total compensation among the various components may be prospectively adjusted at any time at GMAC’s sole discretion. 
 The value a DSU on the Investment Date will be based on the value of a Restricted Stock Unit on the Investment Date (as defined in the Long Term Equity
Compensation Incentive Plan or “LTECIP”). The value at the time of any payment (“Settlement Date”) may differ, depending upon increases or decreases in GMAC’s value, as well as adjustments for recapitalization, merger, etc.
as outlined in Section 6.2 of the LTECIP. 
 Unless otherwise specified in any plan document, DSUs will not determine any potential
severance you may become eligible for. Rather, severance under any applicable plan will be determined based only upon your direct cash compensation in effect prior to the date of this letter. 
 Subject to requirements of any Federal laws or regulations that may govern executive compensation, including but not limited to the TARP Rules, settlement
of your DSUs will be made as follows with each occurrence constituting a “Settlement Date”: 
  

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

  

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

  

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

 These payments are not subject to forfeiture and will be made pursuant to this Settlement schedule, regardless of your employment status. 
  

 Page 1 of 2 

 December 19, 2009 
 Thomas Marano 
  

 By signing below, you acknowledge your understanding that your DSUs are subject to the rules under Code
Section 409A, and you agree and accept all risks (including increased taxes and penalties) resulting from Code Section 409A. In order to receive these DSUs, your signature is required no later than December 23, 2009. 
  

	
	Sincerely yours,
	
	

	Anthony S. Marino
	GMAC Group VP and Chief HR Officer
	December 19, 2009

  

			
	 /S/ THOMAS MARANO
	 	 12/19/2009

	Signature	 	Date

  

 Page 2 of 2GMAC Long-Term Incentive Plan LLC

 Exhibit 10.35 

 

 

 GMAC Long-Term Incentive Plan LLC 
 200 Renaissance Center, M/C482-B14-D46, Detroit, MI. 48265 
 December 19, 2009 
 Thomas Marano 
 Re: GMAC Long-Term Incentive Plan LLC Long-Term Equity Compensation Incentive Plan Award Conversion 
 Dear Tom: 
  

	1.	You were granted a 2009 RSU Award under the GMAC Long-Term Incentive Plan LLC Long-Term Equity Compensation Incentive Plan (the “Plan”). The grant date of
your Award was October 28, 2009 (“Grant Date”). As a result of a recent determination from the Office of the Special Master for TARP Executive Compensation, all 2009 RSUs that do not vest on or before December 31, 2009, are
hereby converted to RSUs (“Conversion RSUs”) that are consistent with the definition of TARP Stock found in the Interim Final Rules issued pursuant to Title VII of the American Recovery and Reinvestment Act of 2009 (the “TARP
Rules”). 

  

	2.	Subject to requirements of any Federal laws or regulations that may govern executive compensation, including but not limited to Title VII of the American Recovery and
Reinvestment Act of 2009 and the Troubled Asset Relief Program, the unvested portion of your 2009 RSU Award, 3.225 bps, are now deemed considered Conversion RSUs. Because Title VII of the American Recovery and Reinvestment Act of 2009 currently
limits the value of restricted stock that may be awarded to certain executives, the Committee reserves the right to adjust down the bps underlying this Award without your consent in order to comply with Federal law. If and when such an adjustment
may be required, you will be notified in writing. 

  

	3.	Subject to requirements of any Federal laws or regulations that may govern executive compensation, including but not limited to Title VII of the American Recovery and
Reinvestment Act of 2009 and the Troubled Asset Relief Program, your Conversion RSUs fully Vest on October 28, 2012 (“Vesting Date”), and will be Paid on the later of the following. 

  

	 	•	 	 Within 75 days of the Vesting Date 

  

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

  

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

  

	5.	If your employment is terminated due to death or Disability, then your entire Unvested Award will immediately Vest and be Paid within 75 days of this new Vesting Date.
You may have previously designated a beneficiary. If not, your failure to designate a beneficiary will result in any payments as a result of your death being made to your estate. Any subsequent change in your beneficiary designation must be made in
writing and communicated to the Plan Administrator at the address above. 

  

 Page 1 of 2 

 Thomas Marano 
 December 19, 2009 
  

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

  

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

  

	8.	Your 2009 Conversion RSUs will be subject to and governed by the terms and conditions of this Award Conversion Letter and the Plan. As a Participant, you agree to abide
by the terms and conditions of this Award Conversion Letter and the Plan. Please indicate your acceptance of and agreement to the terms and conditions of this Award Conversion Letter and the Plan, by signing in the indicated space below no later
than December 23, 2009. 

  

	
	Sincerely yours,
	
	

	Anthony S. Marino
	GMAC Group VP and Chief HR Officer
	December 19, 2009

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

			
	 /S/ THOMAS MARANO
	 	 12/19/2009

	Participant Signature (Required)	 	Date (Required)
		
	 Thomas Marano
	 	
	Printed Name (Required)	 	

  

 Page 2 of 2

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