Document:

Exhibit

Exhibit 10.3
FORD MOTOR COMPANY
DEFINED BENEFIT SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
As applicable to retirements of Eligible Executives on or after January 1, 19921 
(Amended and Restated Effective as of January 1, 2018)

Section 1.  Introduction  

On January 1, 1985, the Company established this Plan for the purpose of providing employees on U.S. payroll, who are Eligible Executives, hired or rehired prior to January 1, 2004, with a monthly Supplemental Benefit for life in the event of such Eligible Executive’s retirement from employment with the Company under certain circumstances.  The Plan also provides for the award of Conditional Annuities and Pension Parity Benefits to selected Eligible Executives under certain circumstances.

Section 2.  Definitions  

As used in the Plan, the following terms shall have the following meanings, respectively:

		
	2.01
	“Affiliate” shall mean, as applied with respect to any person or legal entity specified, a person or legal entity that directly or indirectly, through one or more intermediaries, controls or is controlled by, or is under common control with, the person or legal entity specified.

		
	2.02
	“Annual Incentive Compensation Plan” shall mean the Annual Incentive Compensation Plan of Ford Motor Company, as amended.

		
	2.03
	“BEP” shall mean the Ford Motor Company Benefit Equalization Plan, as amended.

		
	2.04
	“Code” shall mean the Internal Revenue Code of 1986, as amended.

		
	2.05
	“Committee” shall mean Group Vice President – Human Resources and Corporate Services and the Executive Vice President and Chief Financial Officer (or, in the event of a change in title, such officer’s functional equivalent), and such person or persons to whom the Group Vice President – Human Resources and Corporate Services and the Executive Vice President and Chief Financial Officer delegate authority to administer the Plan.

		
	2.06
	“Company” shall mean Ford Motor Company and such of the subsidiaries of Ford Motor Company as, with the consent of Ford Motor Company, shall have adopted this Plan.

		
	2.07
	“Compensation Committee” shall mean the Compensation Committee of the Board of Directors of Ford Motor Company.

_____________________
1 See Appendix A for provisions applicable to retirements of Eligible Executives on or after January 1, 1985 and prior to January 1, 1992 or retirements of Eligible Executives from certain former Company Affiliates.

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	2.08
	“Conditional Annuity” or “Conditional Annuities” shall mean the benefit(s) payable under this Plan as determined in accordance with Section 4.

		
	2.09
	“Credited Service” shall mean, without duplication, the Eligible Executive’s years and any fractional year of credited service under all Retirement Plans at the earlier of the Eligible Executive’s termination of employment or the Freeze Date, not exceeding one year for any calendar year.

		
	2.10
	“Designated Beneficiary” shall mean the beneficiary or beneficiaries designated by an Eligible Executive or Eligible Retired Executive in a writing filed with the Company (subject to such limitations as to the classes and number of beneficiaries and contingent beneficiaries and such other limitations as the Committee may prescribe) to receive, in the event of the death of the Eligible Executive or Eligible Retired Executive, the Death Benefits provided in Section 4.04.  An Eligible Executive or Eligible Retired Executive shall be deemed to have designated as beneficiary or beneficiaries under the Plan the person or persons who receive such Eligible Executive's or Eligible Retired Executive's life insurance proceeds under the Company-paid Basic Life Insurance Plan, unless such Eligible Executive or Eligible Retired Executive shall have assigned such life insurance proceeds, in which event the Death Benefits shall be paid to such assignee; provided, however, that if the Eligible Executive or Eligible Retired Executive shall have filed with the Company a written designation of a different beneficiary or beneficiaries under the Plan, such beneficiary form shall control.  An Eligible Executive or Eligible Retired Executive may from time to time revoke or change any such designation of beneficiary and any designation of beneficiary under the Plan shall be controlling over any testamentary or other disposition; provided, however, that if the Committee shall be in doubt as to the right of any such beneficiary to receive any payment under the Plan, the same may be paid to the legal representatives of the Eligible Executive or Eligible Retired Executive, in which case the Company, the Committee and the members thereof shall not be under any further liability to anyone.

		
	2.11
	“Disability Retirement” shall mean an Eligible Executive's retirement from the Company on or after reaching at least 10 years of service and becoming “totally and permanently disabled” as defined under the GRP.

		
	2.12
	“Early Retirement” shall mean an Eligible Executive's retirement from the Company before reaching age 65 and on or after reaching age 55 with at least 10 years of Credited Service.

		
	2.13
	“Eligible Executive(s)” shall mean a Company employee in Leadership Level Four or above, or its equivalent.

		
	2.14
	“Eligible Retired Executive” shall mean:

		
	(a)
	with respect to Supplemental Benefits, an Eligible Executive who

		
	(i)
	retires directly from Company employment with Company approval on Normal Retirement, Disability Retirement, or Early Retirement;

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	(ii)
	will receive a normal, disability or early retirement benefit under one or more Retirement Plans;

		
	(iii)
	has at least ten years of Credited Service without duplication under all Retirement Plans; and

		
	(iv)
	has at least five years of Eligibility Service immediately preceding retirement.

Except in the case of an Eligible Executive who has not incurred a Separation From Service with the Company, the eligibility condition set forth in Subsection (iv) of this Section 2.14 may be waived (i) in the case of a Leadership Level One employee, by the Compensation Committee, and (ii) in the case of any other employee, by the President and Chief Executive Officer. 

		
	(b)
	with respect to Conditional Annuity awards and Pension Parity Benefits, an Eligible Executive (other than an Eligible Executive in Leadership Levels Four through Two, or such Eligible Executive’s equivalent) who meet the conditions set forth in sections (a)(i), (ii), (iii), and (iv) immediately preceding this paragraph.

		
	2.15
	“Eligible Surviving Spouse” shall mean, for purposes of the Pension Parity Surviving Spouse Benefit, an individual to whom an Eligible Retired Executive legally is married under the laws of the state or foreign jurisdiction where the marriage took place prior to such Retired Executive’s benefit commencement date and for at least one year as of the date of the Retired Executive’s death.

		
	2.16
	“Eligibility Service” shall mean Company service while an Eligible Executive.

		
	2.17
	“ESAP” shall mean the Ford Motor Company Executive Separation Allowance Plan, as amended.

		
	2.18
	“Final Five Year Average Base Salary” shall mean the average of the final five year-end Monthly Base Salaries immediately preceding retirement or the first date after the Freeze Date if earlier.

		
	2.19
	“Final Three Year Average Base Salary” shall mean the average of the final three year-end Monthly Base Salaries immediately preceding retirement or death of the Eligible Retired Executive.

		
	2.20
	“Freeze Date” shall mean the later of December 31, 2019, or the end of the month during which the Eligible Executive reaches 35 years of Credited Service. 

		
	2.21
	“GRP” shall mean the Ford Motor Company General Retirement Plan, as amended.

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	2.22
	“Monthly Base Salary” shall mean the monthly base salary paid to an Eligible Executive on December 31, prior to giving effect to any salary reduction agreement pursuant to an employee benefit plan, as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended, (i) to which Code Section 125 or Code Section 402(e)(3) applies or (ii) which provides for the elective deferral of compensation.  It does not include supplemental compensation or any other kind of extra or additional compensation.

		
	2.23
	“Named Executive Officer(s)” shall mean any Chief Executive Officer that served during the last completed fiscal year, any Chief Financial Officer that served during the last completed fiscal year, the next three most highly compensation executive officers at the end of the last completed fiscal year, and up to two additional individuals who would have been among the most three highly compensated executive officers had they been executive officers at the end of the previous fiscal year end.

		
	2.24
	“Normal Retirement” shall mean an Eligible Executive's retirement from the Company on or after reaching age 65 with at least 10 years of Credited Service.

		
	2.25
	“Pension Parity Benefit(s)” shall mean benefits payable under this Plan as determined in accordance with Section 5.

		
	2.26
	“Pension Parity Surviving Spouse Benefit(s)” shall mean benefits payable under this Plan to an Eligible Surviving Spouse as determined in accordance with Section 5.03.

		
	2.27
	“Plan” shall mean the Ford Motor Company Defined Benefit Supplemental Executive Retirement Plan, as amended.

		
	2.28
	“Plan Administrator” shall mean such person or persons to whom the Committee shall delegate authority to administer the Plan, who does not already act as a Committee member.

		
	2.29
	“Retirement Plans” shall mean the GRP or any other retirement pension plan to which the Company contributes.

		
	2.30
	“Separation From Service” shall be determined to have occurred on the date on which an Eligible Executive incurs a “separation from service” within the meaning of Code Section 409A.

		
	2.31
	“SERP Benefit(s)” shall mean any Conditional Annuities, Pension Parity Benefits, Supplemental Benefits and/or Special Supplemental Benefits payable under this Plan.

		
	2.32
	“Special Supplemental Benefit(s)” shall mean benefits payable under this Plan as determined in accordance with Section 3.03.

		
	2.33
	“Specified Employee” shall mean an employee of the Company who is a “Key Employee” as defined in Code Section 416(i)(1)(A)(i), (ii) or (iii), applied in accordance with the regulations thereunder and disregarding Subsection 416(i)(5).  A 

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Specified Employee shall be identified as of December 31st of each calendar year and such identification shall apply to any Specified Employee who shall incur a Separation From Service in the 12-month period commencing April 1st of the immediately succeeding calendar year.  An employee who is determined to be a Specified Employee shall remain a Specified Employee throughout such 12-month period regardless of whether the employee meets the definition of “Specified Employee” on the date the employee incurs a Separation From Service.  This provision is effective for Specified Employees who incur a Separation From Service on or after January 1, 2005.  For purposes of determining Specified Employees, the definition of compensation under Treasury Regulation Section 1.415(c)-2(d)(3) shall be used, applied without the use of any of the special timing rules provided in Treasury Regulation Section 1.415(c)-2(e) or the special rule in Treasury Regulation Section 1.415(c)-2(g)(5)(i), but applied with the use of the special rule in Treasury Regulation Section 1.415(c)-2(g)(5)(ii). 

		
	2.34
	“SRP” shall mean the Ford Motor Company Select Retirement Plan, as amended. 

		
	2.35
	“Subsidiary” or “Subsidiaries” shall mean, as applied with respect to any person or legal entity specified, (i) a person or legal entity, a majority of the voting stock of which is owned or controlled, directly or indirectly, by the person or legal entity specified, or (ii) any other type of business organization in which the person or legal entity specified owns or controls, directly or indirectly, a majority interest.

		
	2.36
	“Supplemental Benefit(s)” shall mean benefits payable under this Plan as determined in accordance with Section 3.

		
	2.37
	“Totally and Permanently Disabled” shall mean an Eligible Executive who:

		
	(a)
	is not engaged in regular employment or occupation for remuneration or profit (including employment with the Company and/or its Subsidiaries, but excluding employment or occupation which the Plan Administrator determines to be for purposes of rehabilitation);

		
	(b)
	is determined by the Plan Administrator, on the basis of medical evidence, to be totally disabled by bodily injury or disease so as to be prevented thereby from engaging in any regular occupation with the Company, where such disability has been continuous for at least 5 months, and where the Plan Administrator determines such disability will be permanent and continuous during the remainder of such Eligible Employee's life; and

		
	(c)
	has earned at least 10 years of Credited Service.

    
Section 3.  Supplemental Benefits

		
	3.01
	Eligibility.  An Eligible Retired Executive shall be eligible to receive a Supplemental Benefit as provided herein.

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	3.02
	Amount of Supplemental Benefit.

		
	(a)
	Subject to any reductions pursuant to Subsection (b) below and to any limitations and reductions pursuant to other provisions of the Plan, the monthly Supplemental Benefit shall be an amount equal to the Eligible Executive's Final Five Year Average Base Salary multiplied by the Eligible Executive's years of Credited Service, and further multiplied by the Applicable Percentage based on the Eligible Executive's position or salary grade immediately preceding retirement, as follows:

For retirements on or after January 1, 1992, but prior to August 1, 1995:
    
	
		
	Status at Retirement
	Applicable Percentage

	Chairman, Vice Chairman, President
	.90%

	Executive Vice President
	.80%

	Vice President
	.70%

	Non-Vice Presidents
	 

	- Salary Grade 21, 20, 19
	.60%

	- Salary Grade 18, 17, 16
	.40%

	- Salary Grade 15, 14, 13
	.20%

For retirements on or after August 1, 1995, but prior to February 1, 2000:
    
	
		
	Status at Retirement
	Applicable Percentage

	Vice President Band
	 

	- Chairman, Vice Chairman, President
	.90%

	- Executive Vice President
	.80%

	- Group Vice President
	.75%

	- Vice President
	.70%

	Non-Vice President
	 

	- General Executive Band
	.60%

	- Executive Band
	.40%

	- Salary Grade 15, 14, 13
	.20%

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For retirements on or after February 1, 2000, but prior to January 1, 2017:

	
		
	Status at Retirement
	Applicable Percentage

	Leadership Level One
	 

	- Executive Chairman, Chairman, Vice Chairman, Chief Executive Officer, President, Chief Operating Officer
	.90%

	- Executive Vice President
	.80%

	- Group Vice President
	.75%

	- Vice President
	.70%

	Leadership Level Two2
	 

	- Standard Benefit
	.40%

	- Non-standard Benefit3
	.60%

	Leadership Level Three
	.20%

	Leadership Level Four
	.20%

    
For retirements on or after January 1, 2017:

	
		
	Status at Retirement
	Applicable Percentage

	Leadership Level One
	 

	- Executive Chairman, Chairman, Vice 
  Chairman, Chief Executive Officer, 
  President, Chief Operating Officer
	.90%

	- Executive Vice President
	.80%

	- Group Vice President
	.75%

	- Vice President
	.70%

	Leadership Level Two
	.40%

	Leadership Level Three
	.20%

	Leadership Level Four
	.20%

		
	(b)
	For an Eligible Retired Executive who shall commence Supplemental Benefits before age 62, the monthly Supplemental Benefit payable hereunder shall equal the amount calculated in accordance with the immediately preceding Subsection (a) reduced by 5/18 of 1% multiplied by the number of months from the later of the date the Supplemental Benefit commences or age 55 in the case of earlier receipt as a result of an Eligible Retired Executive becoming Totally and Permanently Disabled to the first day of the month after the Eligible Retired Executive would attain age 62.

_____________________
2 General Executive Band  Eligible Executives who, on or after January 1, 2000 were reclassified as Leadership Level Two Employees, shall retain entitlement to the .60% Applicable Percentage regardless of the reclassification. 
3 The non-standard benefit was available for Leadership Level Two Eligible Executives only upon approval of the Executive Chairman, Executive Vice President and Chief Financial Officer and Group Vice President - Human Resources and Corporate Services (or in the event of a change in title, such officer’s functional equivalent). 

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	3.03
	Special Supplemental Benefits. In addition to any other Supplemental Benefits provided under this Plan, the Company may, in its sole discretion, provide Special Supplemental Benefits to certain Eligible Executives.  Special Supplemental Benefits provided to Eligible Executives whose compensation is subject to the executive compensation disclosure rules under the Securities Exchange Act of 1934 shall be set forth in Appendix B.  Special Supplemental Benefits provided to Eligible Executives who are not subject to such disclosure rules shall be set forth in a separate confidential schedule to the Plan that is administered by the HR Director-Executive Personnel Office.  Any Special Supplemental Benefits provided pursuant to this Section shall be paid in accordance with the terms and conditions of this Plan, including without limitation Section 3.04.

		
	3.04
	Payments.  

		
	(a)
	Subject to the earning out provisions of Section 6, Supplemental Benefits, in the amount determined under Section 3.02, shall be payable out of the Company's general funds monthly beginning:

		
	(i)
	for distributions that commenced prior to January 1, 2005, on the first day of the month when the Eligible Retired Executive's retirement benefit under any Retirement Plan or under the Company's ESAP begins;

		
	(ii)
	for distributions commencing on or after January 1, 2005, on or as soon as reasonably practicable after the first day of the month following the date on which the Eligible Retired Executive has a Separation From Service or is determined to be Totally and Permanently Disabled.

		
	 (b)
	Notwithstanding any other provision of the Plan to the contrary, but subject to the earning out provisions of Section 6, if a Specified Employee incurs a Separation From Service, other than as a result of such Specified Employee's death, payment of any Supplemental Benefit to such Specified Employee shall commence on or as soon as reasonably practicable after the first day of the seventh month following such Specified Employee’s Separation From Service.  Any Supplemental Benefit payments to which a Specified Employee otherwise would have been entitled during the first six months following such Specified Employee's Separation From Service shall be accumulated and paid in a lump sum payment on or as soon as reasonably practicable after the first day of the seventh month following such Separation From Service. Any payment delayed under this Section shall not bear interest. 

		
	(c)
	Payments to an Eligible Retired Executive hereunder shall cease at the end of the month in which the Eligible Retired Executive dies.

Section 4.  Conditional Annuities

		
	4.01
	Eligibility.  Prior to January 1, 2017, the Company may, in its discretion, award to an Eligible Executive (other than an Eligible Executive in Leadership Levels Four through 

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Two or its equivalent) additional retirement income in the form of a Conditional Annuity.

Effective as of January 1, 2017, no new Conditional Annuities shall be awarded under this Plan. 

4.02    Amount of Conditional Annuity.

		
	(a)
	In determining the amount of any Conditional Annuity to be awarded to an Eligible Executive for any year, the Compensation Committee shall consider the Company's profit performance and the amount that is awarded to such Eligible Executive for such year under the Annual Incentive Compensation Plan.  Awards shall be made only for years in which the Compensation Committee has decided, for reasons other than individual or corporate performance or termination of employment, to make an award to an Eligible Executive under the Annual Incentive Compensation Plan which is less than would have been awarded if the historical relationship to awards to other executives had been followed.

		
	(b)
	The aggregate annual amount payable under the Conditional Annuities awarded to any Eligible Executive shall not exceed an amount equal to the Applicable Percentage of the average of such Eligible Executive's Final Three Year Average Base Salary, determined in accordance with the following table:

	
			
	 
	Applicable Percentage

	Number of Years for which a Conditional Annuity is awarded
	Chairman, Vice Chairman and President
	All Other Eligible Executives

	1
	30%
	20%

	2
	35
	25

	3
	40
	30

	4
	45
	35

	5 or more
	50
	40

	 
	 
	 

	 
	 
	 

	 
	 
	 

            
The percentage shall be reduced pro rata to the extent that service at retirement is less than 30 years.

		
	4.03
	Payments.

		
	(a)
	Subject to the earning out provisions of Section 6, Conditional Annuities, in the amount determined under Section 4.02, shall be payable to an Eligible Executive out of the Company's general funds monthly beginning:

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	(i)
	for distributions that commenced prior to January 1, 2005, on the first day of the month when the Eligible Retired Executive's retirement benefit under any Retirement Plan or under the Company's ESAP begins; or

		
	(ii)
	for distributions commencing on or after January 1, 2005, on or as soon as reasonably practicable after the first day of the month following the date on which the Eligible Retired Executive has a Separation From Service or is determined to be Totally and Permanently Disabled.

		
	(b)
	Notwithstanding any other provisions of the Plan to the contrary, if a Specified Employee incurs a Separation From Service, other than as a result of such Specified Employee's death, payment of any Conditional Annuities to such Specified Employee shall commence on or as soon as reasonably practicable after the first day of the seventh month following the Separation From Service.  Any Conditional Annuity payments to which a Specified Employee otherwise would have been entitled during the first six months following such Specified Employee's Separation From Service shall be accumulated and paid in a lump sum payment on or as soon as reasonably practicable after the first day of the seventh month following such Separation From Service.  The payment delayed under this Section shall not bear interest. 

		
	(c)
	Except as provided in Section 4.04, payments with respect to an Eligible Retired Executive hereunder shall cease at the end of the month in which such Eligible Retired Executive dies.

		
	(d)
	For an Eligible Executive who retires before age 65, the monthly payment under any Conditional Annuity awarded to such Eligible Executive shall equal the actuarial equivalent (based on factors determined by the Company's independent consulting actuary) of the monthly amount payable for retirement at age 65.

		
	4.04
	Death Benefits.

		
	(a)
	Upon death before retirement but at or after age 55, the Eligible Executive's Designated Beneficiary shall be paid a lump sum equal to 30 times (representing 30 months) the aggregate monthly amount payable under such Eligible Executive's Conditional Annuities if the Eligible Executive had been age 55 at death, increased by one-third of one month for each full month by which such Eligible Executive's age at death shall exceed age 55.  Such lump sum payment shall be paid as soon as reasonably practicable following the date of the Eligible Executive's death.

		
	(b)
	If death occurs within 120 months following retirement, the monthly payments under the Conditional Annuity shall be continued to the Designated Beneficiary for the remaining balance of the 120 month period following retirement.  Notwithstanding the preceding sentence, if the Designated Beneficiary should 

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die prior to receiving all of the remaining monthly payments, any remaining monthly payments under the Conditional Annuity shall cease.

Section 5.  Pension Parity Benefits

		
	5.01
	Eligibility.  For retirements on or after October 1, 1998, an Eligible Retired Executive at Ford Motor Company (U.S.) or Ford Motor Credit Company (U.S.) who held the position of a Leadership Level One at Ford Motor Company (U.S.) immediately prior to retirement and who had service with a subsidiary, including an international subsidiary, at any time prior to becoming an employee of Ford Motor Company (U.S.) or Ford Motor Credit Company (U.S.) shall be eligible to receive a Pension Parity Benefit as provided below.

		
	5.02
	Amount of Pension Parity Benefit.

		
	(a)
	The monthly Pension Parity Benefit shall be an amount equal to the difference between (i) and (ii), where (i) is the amount of the monthly retirement benefit which would be payable under the GRP, the Supplemental Benefit and/or Conditional Annuity under this Plan, the ESAP, the BEP, and the SRP if all of the Eligible Retired Executive's years of service (up to 35 years) under the GRP/ESAP/BEP/SRP and each of the subsidiary's retirement plans were counted as years of contributory service under the GRP/ESAP/BEP/SRP and (ii) is the amount of monthly retirement benefit that is or was payable under the GRP/ESAP/BEP/SRP, under the subsidiary's retirement plans, under this Plan as a Supplemental Benefit or a Conditional Annuity, if applicable, or under any other plan sponsored by a subsidiary which provided pension-type benefits (and, if such benefits were paid (a) in an involuntary lump sum payment as a termination benefit, this Plan shall convert the lump sum payment into an actuarial equivalent annuity (as determined by an independent actuary appointed by Ford Motor Company) payable at age 65 to the Eligible Retired Executive, (b) in a voluntary distribution of a lump sum benefit, the amount of monthly retirement benefit payable under (ii) above shall be the monthly annuity payment the Eligible Retired Executive would have received had the lump sum distribution not occurred, or (c) as was otherwise required pursuant to a qualified domestic relations order for purposes of determining the appropriate offset).

		
	(b)
	For purposes of determining the amount of an Eligible Retired Executive's Pension Parity Benefit, the Eligible Retired Executive shall be treated as if such Eligible Retired Executive elected to receive a GRP benefit in the form of the qualified joint and survivor annuity benefit under the GRP if married as of the date such Eligible Retired Executive retired from the Company, or the single life annuity form of benefit under the GRP if unmarried (including, a divorced or widowed Eligible Retired Executive) as of the date such Eligible Retired Executive retired from the Company.  The amount of any Pension Parity Benefit payable to an Eligible Retired Executive whose benefit under the ESAP is not offset or reduced by the amount of any GRP benefit 

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payable to such Eligible Retired Executive prior to age 65 shall be increased upon the Eligible Retired Executive's attainment of age 65 to reflect an unreduced normal retirement benefit under the GRP.  

		
	5.03
	Pension Parity Surviving Spouse Benefits.

		
	(a)
	An Eligible Surviving Spouse shall be entitled to receive a monthly Pension Parity Surviving Spouse Benefit upon the death of the Eligible Retired Executive in an amount equal to the difference between (i) and (ii), where (i) is the actuarial equivalent (as determined by an independent actuary appointed by Ford Motor Company) of the amount of the monthly survivor's benefit that would be payable under the GRP, the ESAP, the BEP, and the SRP if all of the Eligible Retired Executive's years of service (up to 35 years) under the GRP/ESAP/BEP/SRP and each of the subsidiary's retirement plans were counted as years of contributory service under the GRP/ESAP/BEP/SRP and (ii) is the actuarial equivalent (under the actuarial method described in (i) above) of the aggregate amount of the monthly survivor's benefits that are or were payable under (a) the GRP/ESAP/BEP/SRP, (b) Section 4.04 as a death benefit if the Designated Beneficiary were the Eligible Surviving Spouse, (c) the subsidiary's retirement plans, or (d) any other plan sponsored by a subsidiary which provided pension-type survivor benefits (and, if such benefits were paid in a voluntary distribution of a lump sum benefit, the amount of monthly survivor’s benefit payable under (ii) above shall be the monthly survivor benefit payment the Eligible Surviving Spouse would have received had the lump sum distribution not occurred).  For purposes of determining the amount of any Pension Parity Surviving Spouse Benefit, the Eligible Retired Executive shall be treated as if such Eligible Retired Executive elected to receive a GRP benefit in the form of the qualified joint and survivor annuity benefit under the GRP.  

		
	(b)
	If an Eligible Retired Executive dies prior to reaching age 65, such monthly Pension Parity Surviving Spouse Benefit shall commence on, or as soon as reasonably practicable after, the first day of the month following the month in which the Eligible Retired Executive would have reached age 65.  If an Eligible Retired Executive dies after reaching age 65, such monthly Pension Parity Surviving Spouse Benefit shall commence as soon as reasonably practicable following the date of the Eligible Retired Executive's death.  Monthly Pension Parity Surviving Spouse Benefits payable pursuant to this Section 5.03 shall continue until the Eligible Surviving Spouse dies.

   
		
	5.04
	Payment.  

		
	(a)
	Subject to the earning out provisions of Section 6, the Pension Parity Benefit, in the amount determined under Section 5.02, shall be payable to an Eligible Retired Executive out of the Company's general funds monthly beginning:

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	(i)
	for distributions that commenced prior to January 1, 2005, on the first day of the month when the Eligible Retired Executive's retirement benefit under any Retirement Plan commences; or

		
	(ii)
	for distributions commencing on or after January 1, 2005, on or as soon as reasonably practicable after the first day of the month following the date on which the Eligible Retired Executive has a Separation From Service or is determined to be Totally and Permanently Disabled.

		
	(b)
	Notwithstanding any other provisions of the Plan to the contrary, if a Specified Employee incurs a Separation From Service, other than as a result of such Specified Employee's death, payment of any Pension Parity benefit to such Specified Employee shall commence on or as soon as reasonably practicable after the first day of the seventh month following Separation from Service.  Any Pension Parity Benefit payments to which a Specified Employee otherwise would have been entitled during the first six months following such Specified Employee's Separation From Service shall be accumulated and paid in a lump sum payment on, or as soon as reasonably practicable after, the first day of the seventh month following such Separation From Service.  The payment delayed under this Section shall not bear interest. 

 
		
	(c)
	Pension Parity Benefit payments to an Eligible Retired Executive shall cease at the end of the month in which the Eligible Retired Executive dies.  The Pension Parity Surviving Spouse Benefit, in the amount determined under Section 5.03, shall be payable out of the Company's general funds monthly beginning on the first day of the month following the Eligible Retired Executive's death.  Pension Parity Surviving Spouse Benefits paid to an Eligible Surviving Spouse shall cease at the end of the month in which the Eligible Surviving Spouse dies.

Section 6.  Earning Out Conditions  

Notwithstanding anything in the Plan to the contrary, the right of any Eligible Retired Executive to receive SERP Benefits hereunder for any month shall accrue, and such payments shall be payable (subject to Sections 3.03, 4.03 or 5.04, as applicable), only if, during the entire period from the date of such Eligible Retired Executive’s Separation From Service to the end of such month, in which payment otherwise would be made, such Eligible Retired Executive shall have earned out such payment by refraining from engaging in any activity that is directly or indirectly in competition with any activity of the Company or any Subsidiary or Affiliate thereof.

In the event of an Eligible Retired Executive's nonfulfillment of the condition set forth in the immediately preceding paragraph, no further payment shall be paid to such Eligible Retired Executive, such Eligible Retired Executive’s Designated Beneficiary or Eligible Surviving Spouse, as applicable; provided, however, that the nonfulfillment of such condition may at any time (whether before, at the time of, or subsequent to, termination of the Eligible Retired Executive’s employment) be waived in the following manner:

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	(a)
	with respect to any such Eligible Retired Executive who, at any time, shall have been a member of the Board of Directors, a Leadership Level One employee or a Named Executive Officer, such waiver may be granted by the Compensation Committee upon its determination that, in its sole discretion, that there shall not have been, and will not be, any substantial adverse effect upon the Company or any Subsidiary or Affiliate thereof by reason of the nonfulfillment of such condition; and

		
	(b)
	with respect to any other such Eligible Retired Executive, such waiver may be granted by the Committee upon its determination that, in its sole discretion, that there shall not have been and will not be any such substantial adverse effect upon the Company or any Subsidiary or Affiliate thereof by reason of the nonfulfillment of such conditions.

Notwithstanding anything to the contrary herein, SERP Benefits shall not be paid to, or with respect to, any person as to whom it has been determined that such person at any time (whether before or subsequent to termination of the Eligible Retired Executive’s employment) acted in a manner inimical to the best interests of the Company.  Any such determination shall be made by (i) the Compensation Committee with respect to any Eligible Retired Executive who, at any time, shall have been a member of the Board of Directors, a Leadership Level One employee or a Named Executive Officer, and (ii) the Committee with respect to any other Eligible Retired Executive, and shall apply to any amounts payable after the date of the applicable committee's action hereunder, regardless of whether the Eligible Retired Executive has commenced receiving any benefits hereunder.  Conduct which constitutes engaging in an activity that is directly or indirectly in competition with any activity of the Company or any Subsidiary or Affiliate thereof shall be governed by the preceding paragraphs of this Section and shall not be subject to any determination under this paragraph.

Section 7.  General Provisions
    
		
	7.01
	Plan Administration and Interpretation.  

		
	(a)
	Notwithstanding any other provisions of the Plan to the contrary, the terms of the Plan shall determine the benefits payable to any person under the Plan, and no person shall be eligible for any benefit under the Plan that would be inconsistent with such terms.  

		
	(b)
	Except as otherwise provided, full authority to administer and interpret this Plan shall be vested in the Committee. The Committee is authorized, in its sole discretion, from time to time, to establish such rules and regulations as it deems appropriate for the proper administration of the Plan, and to make such determinations under, and such interpretations of, and to take such actions in connection with, the Plan as it deems necessary or advisable. Each determination, interpretation, or other action hereunder by the Committee shall be final, binding and conclusive upon all persons for all purposes under the Plan. The Committee may act, in its sole discretion, to delegate administrative and interpretative authority under this Section to the Plan Administrator.  

Page 14 of 23

		
	(c)
	In the event that an Article, Section or paragraph of the Code, Treasury Regulations, or Retirement Plans is renumbered, such renumbered Article, Section or paragraph shall apply to applicable references in this Plan.

		
	7.02
	Local Payment Authorities.  The Vice President and Treasurer and the Assistant Treasurer (or, in the event of a change in title, such officer’s functional equivalent) may act individually to delegate authority to administrative personnel for purposes of paying benefits under the Plan to any person.

		
	7.03
	Deductions.  The Company may deduct from any payment of SERP Benefits to an Eligible Retired Executive, Designated Beneficiary or Eligible Surviving Spouse, any and all amounts owed to it by such Eligible Retired Executive, Designated Beneficiary, or Eligible Surviving Spouse for any reason, and all taxes required by law or government regulation to be deducted or withheld.

		
	7.04
	Tax Liabilities. The Company has no duty to design its compensation policies in a manner that minimizes an individual’s tax liabilities, including tax liabilities arising as a result of SERP Benefits provided under the Plan. No claim shall be made against the Plan relating to tax liabilities arising from employment with the Company and/or any compensation or benefit arrangements sponsored or maintained by the Company, including this Plan.        

		
	7.05
	No Contract of Employment.  The Plan is an expression of the Company's present policy with respect to Eligible Executives; it is not a part of any contract of employment.  No Eligible Executive, Designated Beneficiary, Eligible Surviving Spouse or any other person shall have any legal or other right to any benefit under this Plan.

		
	7.06
	SERP Benefits Not Funded. The Company’s obligations under this Plan shall not be funded. SERP Benefits under this Plan shall be payable only out of the general funds of the Company.

		
	7.07
	Governing Law.  Except as otherwise provided under Federal law, the Plan and all rights thereunder shall be governed, construed and administered in accordance with the laws of the State of Michigan.

		
	7.08
	Amendment or Termination.  The Company shall have the right to amend, modify, discontinue or terminate this Plan, in whole or in part, at any time, without notice; provided, however, that no distribution of SERP Benefits shall occur upon termination of this Plan unless applicable requirements of Code Section 409A have been met. Notwithstanding anything to the contrary herein, benefits payable under this Plan remain subject to the claims of the Company’s general creditors at all times.

		
	7.09
	Terms Not Otherwise Defined.  Capitalized terms not otherwise defined in this Plan shall have the same meanings ascribed to such terms under the applicable Retirement Plans.

Page 15 of 23

		
	7.10
	No Alienation of Benefits. An Eligible Executive may not assign or alienate any SERP Benefits, and the Plan will not recognize a domestic relations order that purports to assign any SERP Benefit to another person.

		
	7.11
	Recovery of Overpayment.  Any individual shall repay promptly any and all SERP Benefits received by the individual to which the individual is not entitled.  Written notice of any overpayment, the amount owed and actions that may be taken in connection with the overpayment will be sent to the individual.  If an individual fails to make timely repayment, this Plan shall proceed to recover the overpaid amount.  This Plan reserves the right to initiate formal recovery action through the use of a collection agency or through any applicable legal proceedings.

Section 8. Code Section 409A

		
	(a)
	All benefits provided under the Plan are intended to be exempt from, or in compliance with, Code Section 409A, and the regulations issued thereunder, and the Plan is to be construed accordingly.  The Company reserves the right to take such action as the Company deems necessary or desirable to ensure benefits provided under the Plan are exempt from, or comply with, as applicable, Code Section 409A, and the regulations issued thereunder.

		
	(b)
	In no event shall any transfer of liabilities to or from this Plan result in an impermissible acceleration or deferral of any SERP Benefits under Code Section 409A. In the event such a transfer would cause an impermissible acceleration or deferral under Code Section 409A, such transfer shall not occur.

		
	(c)
	In no event will application of any eligibility requirements under this Plan cause an impermissible acceleration or deferral of any Plan benefits under Code Section 409A.

		
	(d)
	In the event an Eligible Executive or Eligible Retired Executive who is receiving, or is entitled to receive, SERP Benefits is reemployed following a Separation From Service, distribution of any SERP Benefits shall not cease  or be deferred upon such Eligible Executive's or Eligible Retired Executive's reemployment.

		
	(e)
	After receipt of any benefits under the Plan, the obligations of the Company with respect to such benefits shall be satisfied and no Eligible Executive, Eligible Surviving Spouse, Designated Beneficiary, or other person shall have any further claims against the Plan or the Company with respect to Plan benefits.

Section 9. Claim for Benefits

		
	9.01
	Denial of a Claim.  A claim for benefits under the Plan shall be submitted in writing to the Plan Administrator.  If a claim for benefits or participation is denied in whole or in part by the Plan Administrator, the claimant will receive written notification within 90 days from the date the claim for benefits or participation is received.  Such notice shall be deemed given upon mailing, full postage prepaid in the United States mail or on the date sent electronically to the claimant.  If the Plan Administrator determines that an 

Page 16 of 23

extension of time to consider a claim and render a decision is needed, written notice of the extension shall be furnished to the claimant as soon as practical. 
		
	9.02
	Review of Denial of Claim. In the event that the Plan Administrator denies a claim for benefits or participation, the claimant may request a review by filing a written appeal. If the appeal is from an active Leadership Level One employee, a Named Executive Officer or any individual who, at any time, shall have been a member of the Board of Directors, the appeal will be heard by the Compensation Committee. If the appeal is from any other appellant, the appeal will be heard by the Committee. All appeals must be filed within sixty (60) days of the date of the written notification of denial.  The appeal will be considered and a decision shall be rendered within 90 days from the date the appeal is received. Under special circumstances, an extension of time to consider the appeal and render a decision may be needed, in which case a decision shall be rendered as soon as practical.  In the event such an extension of time is needed to consider the appeal and render a decision, written notice of such time extension shall be provided to the appellant.

		
	9.03
	Decision on Appeal. The decision on review of the appeal shall be in writing. Such notice shall be deemed given upon mailing, full postage prepaid in the United States mail or on the date sent electronically to the appellant.  Decisions rendered on the appeal are final and conclusive and are only subject to the arbitrary and capricious standard of judicial review.

		
	9.04
	Limitations Period.  No legal action for benefits under the Plan may be brought against the Plan until after the claim and appeal procedures have been exhausted.  Legal actions under the Plan for benefits must be brought no later than two (2) years after the date of the denial of the appeal.  No other action may be brought against the Plan more than six (6) months after the date of the last action that gave rise to the claim.

		
	9.05
	Venue.  An individual shall only bring an action in connection with the Plan in the United States District Court for the Eastern District of Michigan.

Page 17 of 23

Appendix A
                
Applicable to retirements of Eligible Executives on or after January 1, 1985 but prior to January 1, 1992, or retirements of Eligible Executives from certain former Company Affiliates.

Section 1.  Definitions.  The terms used in this Appendix shall have the same meaning as those in the Supplemental Executive Retirement Plan, except as follows:

		
	1.01
	“Contributory Service” shall mean without duplication, the Eligible Executive’s years and any fractional year of contributory service under all Retirement Plans at the earlier of the Eligible Executive’s termination of employment or the Freeze Date, not exceeding one year for any calendar year.

		
	1.02
	“Eligible Executive” shall mean a person who is the Chairman of the Board and Chief Executive Officer, an Executive Vice President or a Vice President of the Company (excluding any such person who is an employee of a foreign Affiliate of the Company) or a Company employee in Salary Grade 13 or its equivalent or above (Salary Grade 20 or its equivalent or above for Company employees prior to January 1, 1989).

Section 2.  Supplemental Benefits.

		
	2.01
	Eligibility.  An Eligible Retired Executive shall be eligible to receive a Supplemental Benefit as provided herein.

		
	2.02
	Amount of Supplemental Benefit.

(a)  Subject to any reductions pursuant to Subsection (b) below and to any limitations and reductions pursuant to other provisions of the Plan, the monthly Supplemental Benefit shall be an amount determined as follows:

(i)  For those employees who were Eligible Executives on or after January 1, 1989 and retired prior to January 1, 1992, an amount equal to the Eligible Executive's Final Five Year Average Base Salary multiplied by the Eligible Executive's years of Contributory Service, and further multiplied by the Applicable Percentage based on the Eligible Executive's position or salary grade immediately preceding retirement and on when the Contributory Service occurred, as follows:

Page 18 of 23

	
			
	Status at Retirement
	Applicable Percentage

	 
	Contributory Service 
before 1/1/89
	Contributory Service 
from 1/1/89

	Chairman, Vice Chairman, President
	.60%
	.90%

	Executive Vice President
	.50%
	.80%

	Vice Presidents
	 
	 

	Salary Grade 23
	.40%
	.70%

	Salary Grade 22
	.40%
	.70%

	Salary Grade 21
	.40%
	.70%

	Salary Grade 20
	.40%
	.70%

	Non-Vice Presidents
	 
	 

	Salary Grade 21
	.30%
	.60%

	Salary Grade 20
	.30%
	.60%

	Salary Grade 19
	.30%
	.60%

	Salary Grade 18, 17, 16
	.20%
	.40%

	Salary Grade 15, 14, 13
	.10%
	.20%

        
(ii)  For those employees who were Eligible Executives prior to January 1, 1989 and who retired prior to January 1, 1992, the greater of (A) or (B):

(A)  the Eligible Executive's Final Five Year Average Base Salary multiplied by the Eligible Executive's Credited Service, and further multiplied by the Applicable Percentage based on the Eligible Executive's position or salary grade immediately preceding retirement, as follows:

	
				
	Status at Retirement
	 
	 
	Applicable Percentage

	 
	 
	 
	 

	Chairman, Vice Chairman, President
	 
	 
	.50%

	Executive Vice President
	 
	 
	.40%

	Vice President
	 
	 
	 

	Salary Grade 23
	 
	 
	.35%

	Salary Grade 22
	 
	 
	.30%

	Salary Grade 21
	 
	 
	.25%

	Salary Grade 20
	 
	 
	.20%

	Non-Vice Presidents
	 
	 
	 

	Salary Grade 21
	 
	 
	.25%

	Salary Grade 20
	 
	 
	.20%

(B)  the Eligible Executive's Final Five Year Average Base Salary multiplied by the Eligible Executive's Contributory Service, and further multiplied by the Applicable Percentage set forth in Section (a)(i) above based on the Eligible Executive's position or salary grade immediately preceding retirement and on when the Contributory Service occurred.

Page 19 of 23

(b)  For an Eligible Retired Executive who shall commence Supplemental Benefits before age 62 the monthly Supplemental Benefit payable hereunder shall equal the amount calculated in accordance with the immediately preceding Subsection (a) reduced by 5/18 of 1% multiplied by the number of months from the later of the date the Supplemental Benefit commences or age 55 in the case of earlier receipt as a result of an Eligible Retired Executive becoming Totally and Permanently Disabled to the first day of the month after the Eligible Retired Executive would attain age 62.

Section 3.  Former Affiliates and Former Employees.

		
	3.01
	Ford Aerospace Corporation.  An employee of Ford Aerospace Corporation who was a Vice President of Ford Motor Company as of April 1, 1985 and retired May 1, 1985 shall be deemed to be an Eligible Executive under the Plan only for Supplemental Benefits and shall be eligible to receive such benefits under the Plan based on Credited Service under the Salaried Retirement Plan of Ford Aerospace Corporation.

		
	3.02
	Ford New Holland, Inc.  The following shall be applicable to former employees of Ford Tractor Operations who were transferred to Ford New Holland (FNH) and who participated in the GRP for service through December 31, 1989 (“FNH Employees”).

(a)  Retirement-Eligible FNH Employees as of January 1, 1989.  

A FNH Employee who was eligible to retire under the GRP on or prior to January 1, 1989, and who was in a position equivalent to a Salary Grade 13 or above on December 31, 1989, and who retires directly from FNH shall be deemed to be an Eligible Executive under the Plan only for Supplemental Benefits and shall receive such benefits as are applicable under the terms of the Plan in effect at the date of retirement, if retired prior to January 1, 1992, or the terms of the Plan in effect on January 1, 1992, if retired on or after January 1, 1992; provided, however, that for purposes of calculating the Supplemental Benefit, the Plan shall use (i) the employee's position or salary grade at FNH as of December 31, 1989; (ii) the Final Five Year Average Base Salary immediately preceding retirement of the Eligible Executive from FNH; and (iii) the employee's Credited Service or Contributory Service, as applicable, as of December 31, 1989.

(b)  Non-Retirement Eligible Employees as of January 1, 1989.

A FNH Employee who was not eligible to retire under the GRP on or prior to January 1, 1989, and who was in a position equivalent to a Salary Grade 13 or above on December 31, 1989, and who retires directly from FNH shall be deemed to be an Eligible Executive under the Plan only for Supplemental Benefits and shall receive such benefits as are applicable under the terms of the Plan in effect as of January 1, 1989; provided, however, that for purposes of calculating the Supplemental Benefit, the Plan shall use (i) the employee's position or salary grade at FNH as of December 31, 1989; (ii) the Final Five Year Average Base Salary as of January 1, 1989; and (iii) the employee's Contributory Service as of December 31, 1989. 

		
	3.03
	Sale of Favesa Operations to Lear Seating Corporation.  An Eligible Executive whose employment was transferred to Lear Seating Corporation by reason of the sale of a portion of Plastic and Trim Product Division's seat operations to Lear on November 1, 1993 and who was eligible to retire under the terms of the GRP as of 

Page 20 of 23

December 31, 1993, shall retain eligibility to receive a Supplemental Benefit, and shall receive such benefits as are applicable under the terms of the Plan in effect as of December 31, 1993; provided, however that for purposes of calculating the Supplemental Benefit, the Plan shall use (i) the employee's position or salary grade with the Company as of December 31, 1993; (ii) the Final Five Year Average Base Salary as of December 31, 1993; and (iii) the employee's Credited Service as of December 31, 1993.  

		
	3.04
	Transition of Jaguar/Landrover Employee to Tata Motors.  An Eligible Executive whose employment was transferred to Tata Motors by reason of the sale of the assets of Jaguar/Landrover divisions to Tata Motors on January 1, 2009 and who was eligible to retire under the terms of the GRP as of December 31, 2008, shall retain eligibility to receive a Supplemental Benefit, and shall receive such benefits as are applicable under the terms of the Plan in effect as of December 31, 2008; provided, however that for purposes of calculating the Supplemental Benefit, the Plan shall use (i) the employee's position or salary grade with the Company as of December 31, 2008; (ii) the Final Five Year Average Base Salary as of December 31, 2008; and (iii) the employee's Credited Service as of December 31, 2008.

		
	3.05
	Visteon Corporation.  The following shall be applicable to employees of Ford who were transferred to Visteon Corporation on April 1, 2000 (“U.S. Visteon Employees”) and who ceased active participation in the Plan as of June 30, 2000 after Visteon Corporation was spun-off from Ford, June 28, 2000.

(a)    Group I and Group II Employees.

For purposes of this paragraph, a “Group I Employee” shall mean a U.S. Visteon Employee who as of July 1, 2000 was eligible for immediate normal or regular early retirement under the provisions of the GRP as in effect on July 1, 2000.  A “Group II Employee” shall mean a U.S. Visteon Employee who (i) was not a Group I Employee; (ii) had as of July 1, 2000 a combination of age and continuous service that equals or exceeds sixty (60) points (partial months disregarded); and (iii) could become eligible for normal or regular early retirement under the provisions of the GRP as in effect on July 1, 2000 within the period after July 1, 2000 equal to the employee's Ford service as of July 1, 2000.  A Group I or Group II Employee shall retain eligibility to receive a Supplemental Benefit and shall receive such benefits as are applicable under the terms of the Plan in effect on the retirement date, based on meeting eligibility criteria as of July 1, 2000 and Credited Service on July 1, 2000 and the Final Five Year Average Base Salary in effect immediately preceding the earlier of the first date after the Freeze Date, or the Group I or Group II Employee’s retirement date. 

		
	(b)
	Group III Employees.

For purposes of this paragraph, a “Group III Employee” shall mean a U.S. Visteon Employee who participated in the GRP prior to July 1, 2000 other than a Group I or Group II Employee.  The Plan shall have no liability for any benefits payable to Group III Employees who were otherwise eligible hereunder with respect to Credited Service prior to July 1, 2000 on or after July 1, 2000.       

Page 21 of 23

Section 4.  General.  Except as otherwise provided in this Appendix A, the terms of the Plan applicable to retirements of Eligible Executives on or after January 1, 1992 shall be applicable to the retirements of Eligible Executives on or after January 1, 1985 but prior to January 1, 1992.

Page 22 of 23

Appendix B
Special Supplemental Benefits

Named Executive Officers

Section 1.  Special Supplemental Benefits Based on Notional Service and Salary.  Special Supplemental Benefits will be provided to each Eligible Executive listed in Subsection 1.03 below for the period of time during which such Eligible Executive did not receive a cash base salary from the Company by determining the Supplemental Benefits that otherwise would have been provided to such Eligible Executive for such period using notional service and salary as follows; provided that, in no event shall an Eligible Executive receive both Supplemental Benefits and Special Supplemental Benefits for the same period of service. For purposes of determining the benefits described in this Appendix, the Freeze Date is determined after including the notional years of service.  For Separations From Service after the Freeze Date, in no event shall the Eligible Executive receive benefits under this Plan based on years of service earned or salary paid after the Freeze Date. 

		
	1.01
	Credited Service.  Credited Service, if any, for each such Eligible Executive for any period of time during which the Eligible Executive did not receive a cash base salary shall be determined by the Committee, in its sole discretion, based on the credited service the Eligible Executive would have accrued under the GRP had the Eligible Executive participated in, and accrued credited service under, the GRP during such period of time. 

		
	1.02
	Monthly Base Salary.  Monthly Base Salary for each such Eligible Executive shall be determined by the Committee, in its sole discretion, based on a notional monthly base salary for the period of time during which the Eligible Executive did not receive a cash base salary.

		
	1.03
	Affected Eligible Executives.  The following Eligible Executives' Special Supplemental Benefits shall be determined in accordance with this Section:

William Clay Ford, Jr.

Page 23 of 23Exhibit

Exhibit 10.4
FORD MOTOR COMPANY
SELECT RETIREMENT PLAN
(Amended and Restated Effective as of January 1, 2018)

Section 1.  Introduction  

On June 9, 1994, the Company established this Plan for the purpose of providing voluntary retirement incentives to selected Company employees on U.S. payroll who are assigned to Leadership Levels One through Five, or the equivalents of such Leadership Levels, constituting a select group of management or highly compensated employees.
 
Section 2.  Definitions  

As used in the Plan, the following terms shall have the following meanings, respectively:

		
	2.01
	“Affiliate” shall mean, as applied with respect to any person or legal entity specified, a person or legal entity that directly or indirectly, through one or more intermediaries, controls or is controlled by, or is under common control with, the person or legal entity specified.

		
	2.02
	“BEP” shall mean the Ford Motor Company Benefit Equalization Plan, as amended.

		
	2.03
	“Code” shall mean the Internal Revenue Code of 1986, as amended.

		
	2.04
	“Committee” shall mean Group Vice President – Human Resources and Corporate Services and the Executive Vice President and Chief Financial Officer (or, in the event of a change in title, such officer’s functional equivalent), and such person or persons to whom the Group Vice President – Human Resources and Corporate Services and the Executive Vice President and Chief Financial Officer delegate authority to administer the Plan. 

		
	2.05
	“Company” shall mean Ford Motor Company and such of the subsidiaries of Ford Motor Company as, with the consent of Ford Motor Company, shall have adopted this Plan.

		
	2.06
	“Compensation Committee” shall mean the Compensation Committee of the Board of Directors of Ford Motor Company.

		
	2.07
	“Contributory Service” shall mean, without duplication, the Eligible Executive’s years and any fractional year of contributory service under the GRP at the earlier of the Eligible Executive’s termination of employment or the Freeze Date, not exceeding one year for any calendar year.

		
	2.08
	“Credited Service” shall mean, without duplication, the Eligible Executive’s years and any fractional year of credited service under the GRP or any other retirement plan to which the Company contributes at the earlier of the Eligible Executive’s termination of employment or the Freeze Date, not exceeding one year for any calendar year.

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	2.09
	“DB SERP” shall mean the Ford Motor Company Defined Benefit Supplemental Executive Retirement Plan, as amended.

		
	2.10
	“DEP” shall mean the Ford Motor Credit Company Deferred Equalization Plan, as amended.

		
	2.11
	“DEP Select Benefits” shall mean the benefits described in Section 4.04.

		
	2.12
	“Eligible Executive(s)” shall mean a full time U.S. Company employee who:

(i)    was hired or rehired prior to January 1, 2004,

(ii)    is at least age 55, taking into consideration the three additional years of age provided under this Plan, as of the Retirement Effective Date, 

(iii)    who has at least ten years of Credited Service, taking into consideration the three additional years of service provided under this Plan, as of the Retirement Effective Date,

(iv)    is assigned to Leadership Levels One through Five of the Company, or the equivalents of such Leadership Levels, 

(v)    is selected by the Company to participate in the Select Retirement Plan, and 

(vi)    is in good standing as of the last day of employment.

In addition to the eligibility requirements above, to receive a Select Benefit under this Plan, the executive must meet eligibility requirements defined under the Retirement Plans to which the Select Benefit relates after adding three years to such employees’ attained age and service required for determining eligibility under the applicable Retirement Plan.
        
		
	2.13
	“Eligible Surviving Spouse” shall mean an individual to whom a Retired Executive legally is married under the laws of the state or foreign jurisdiction where the marriage took place prior to such Retired Executive’s benefit commencement date and for at least one year as of the date of the Retired Executive’s death. 

		
	2.14
	“ESAP” shall mean the Ford Motor Company Executive Separation Allowance Plan, as amended

		
	2.15
	“ESAP Select Benefit(s)” shall mean the benefits described in Section 4.03.

		
	2.16
	“Final Average Monthly Salary” shall mean “Final Average Monthly Salary” as defined in the GRP.

		
	2.17
	“Final Five Year Average Base Salary” shall mean the average of the final five year-end Monthly Base Salaries immediately preceding the earlier of the Eligible Executive’s Retirement Effective Date, or the first date after the Freeze Date.

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	2.18
	“Freeze Date” shall mean the later of December 31, 2019, or the end of the month during which the Eligible Executive reaches 35 years of Credited Service.

		
	2.19
	“GRP” shall mean the Ford Motor Company General Retirement Plan, as amended.

		
	2.20
	“GRP Select Benefit(s)” shall mean the monthly benefits described in Section 4.01.

		
	2.21
	“Monthly Base Salary” shall mean the monthly base salary paid to an Eligible Executive on December 31, prior to giving effect to any salary reduction agreement pursuant to an employee benefit plan, as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended, (i) to which Code Section 125 or Code Section 402(e)(3) applies, or (ii) which provides for the elective deferral of compensation.  It does not include supplemental compensation or any other kind of extra or additional compensation.

		
	2.22
	“Named Executive Officer(s)” shall mean any Chief Executive Officer that served during the last completed fiscal year, any Chief Financial Officer that served during the last completed fiscal year, the next three most highly compensation executive officers at the end of the last completed fiscal year, and up to two additional individuals who would have been among the most three highly compensated executive officers had they been executive officers at the end of the previous fiscal year end.

		
	2.23
	“Plan” shall mean the Ford Motor Company Select Retirement Plan, as amended.

		
	2.24
	“Plan Administrator” shall mean such person or persons to whom the Committee shall delegate authority to administer the Plan, who does not already act as a Committee member. 

		
	2.25
	“Retired Executive” shall mean an Eligible Executive who has a Separation From Service from the Company under the terms and conditions of this Plan on the Retirement Effective Date. 

		
	2.26
	“Retirement Effective Date” shall mean the first day of the month immediately following or coincident with an Eligible Executive’s date of Separation From Service as designated by the Company. 

		
	2.27
	“Retirement Plans” shall mean the GRP, the BEP, the DB SERP, the ESAP and the DEP.

		
	2.28
	“Salary” shall mean salary at the basic salary rate without regard to the Code Section 401(a)(17) limit and not including supplemental compensation, premiums, pay for overtime, or any other kind of extra or additional compensation.

		
	2.29
	“Select Benefits” shall mean the retirement benefits described in Section 4.

		
	2.30
	“Separation From Service” shall be determined to have occurred on the date on which an Eligible Executive incurs a “separation from service” within the meaning of Code Section 409A.

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	2.31
	“DB SERP Select Benefits” shall mean the benefits described in Section 4.02.

		
	2.32
	“Special Select Benefits” shall mean the benefits described in Section 4.05.

		
	2.33
	“Specified Employee”  shall mean an employee of the Company who is a “Key Employee” as defined in Code Section 416(i)(1)(A)(i), (ii) or (iii), applied in accordance with the regulations thereunder and disregarding Subsection 416(i)(5).  A Specified Employee shall be identified as of December 31st of each calendar year and such identification shall apply to any Specified Employee who shall incur a Separation From Service in the 12-month period commencing April 1st of the immediately succeeding calendar year.  An employee who is determined to be a Specified Employee shall remain a Specified Employee throughout such 12-month period regardless of whether the employee meets the definition of “Specified Employee” on the date the employee incurs a Separation From Service.  This provision is effective for Specified Employees who incur a Separation From Service on or after January 1, 2005.  For purposes of determining Specified Employees, the definition of compensation under Treasury Regulation Section 1.415(c)-2(d)(3) shall be used, applied without the use of any of the special timing rules provided in Treasury Regulation Section 1.415(c)-2(e) or the special rule in Treasury Regulation Section 1.415(c)-2(g)(5)(i), but applied with the use of the special rule in Treasury Regulation Section 1.415(c)-2(g)(5)(ii).

    
		
	2.34
	“Subsidiary” shall mean, as applied with respect to any person or legal entity specified, (i) a person or legal entity, a majority of the voting stock of which is owned or controlled, directly or indirectly, by the person or legal entity specified, or (ii) any other type of business organization in which the person or legal entity specified owns or controls, directly or indirectly, a majority interest.

Section 3.  Agreement to Participate

		
	3.01
	Effective Agreement.  To participate in the Plan, an Eligible Executive must submit to the Company a completed and signed agreement prior to receiving such Select Benefits.  The Company shall provide the applicable form agreement for this purpose and no other agreement form shall be used for this purpose.

		
	3.02
	Revocation of Agreements.  An Eligible Executive may revoke an agreement provided in accordance with Section 3.01 by giving written notice to the Company no later than seven (7) days after the date on which the Eligible Executive submitted a signed agreement to the Company in accordance with Section 3.01.  The Company shall provide a revocation form for this purpose and no other revocation or form shall be used for this purpose.

Section 4.  Calculation of Select Benefits  

		
	4.01
	GRP Select Benefits.  The GRP Select Benefit payable to a Retired Executive shall be a monthly benefit in an amount equal to the difference between (X) and (Y) where (X) is the monthly GRP benefit for such Retired Executive, determined under the terms of the GRP in effect as of the Retirement Effective Date after giving effect to the following adjustments: 

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	•
	Add three years to the Retired Executive's attained age as of the Retirement Effective Date only for the purpose of determining the supplement rates and applicable early retirement reduction factors set forth in Appendices C and G, respectively, to the GRP; and 

		
	•
	Add three years to the Retired Executive's years of Credited Service and Contributory Service as of the Retirement Effective Date, without the requirement of employee contributions. For commencements after December 31, 2019, Credited Service and Contributory Service are limited to the years of service as of the Freeze Date, including any additional years provided in this paragraph; and 

		
	•
	If service is provided under the immediately preceding paragraph, the Final Average Monthly Salary for a Retired Executive under the terms of this Plan shall be determined as if the Retired Executive had been a contributing member and received Contributory Service for up to three additional years after the Retirement Effective Date at the Retired Executive's Salary in effect as of the date immediately preceding the Retirement Effective Date;

and (Y) is the monthly GRP benefit for such Retired Executive determined under the terms of the GRP in effect as of the Retirement Effective Date, without regard to limitations imposed by Code Sections 415 and 401(a)(17), regardless of whether an application for GRP benefits has been submitted or actual GRP benefit payments to the Retired Executive have commenced or been paid in full in a lump sum payment.

The GRP Select Benefit determined as of the Retirement Effective Date shall be an amount equal to at least a fifteen percent (15%) improvement to the monthly GRP benefit determined as provided above for such Retired Executive under the terms of the GRP in effect as of the Retirement Effective Date.  If the Retired Executive's benefit under the GRP is re-determined at Age 62 and One Month, the GRP Select Benefit shall be redetermined and adjusted such that the GRP Select Benefit shall be an amount equal to at least a fifteen percent (15%) improvement to the GRP benefit re-determined under the terms of the GRP then in effect as of the redetermination date. If the Retired Executive commences receiving a GRP benefit on or after the date on which the Retired Executive attains age 65, specifically relating to deferral of commencement or late retirement, the GRP Select Benefit shall be determined or re-determined, as applicable, such that the GRP Select Benefit shall be an amount equal to at least a fifteen percent (15%) improvement to the GRP benefit determined as of the commencement date. 
   
For purposes of determining the amount of a Retired Executive's GRP Select Benefit, the Retired Executive shall be treated as if the Retired Executive elected to receive a GRP benefit in the form of the qualified joint and survivor annuity benefit under the GRP if married as of the Retirement Effective Date, or the single life annuity form of 

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benefit under the GRP if unmarried (including, a divorced or widowed Retired Executive) as of the Retirement Effective Date.  The amount of any GRP Select Benefit payable to a Retired Executive whose benefit under the ESAP is not offset or reduced by the amount of any GRP benefit payable to such Retired Executive prior to age 65 shall be increased upon the Retired Executive's attainment of age 65 to reflect an unreduced normal retirement benefit under the GRP.  

		
	4.02
	DB SERP Select Benefits.  The DB SERP Select Benefit applicable to a Retired Executive who is otherwise eligible, or who becomes eligible, for a DB SERP benefit under the terms of the DB SERP in effect as of the Retirement Effective Date shall be an amount equal to the difference between (X) and (Y) where (X) is the DB SERP benefit determined under the terms of the DB SERP after giving effect to the following adjustments:

		
	•
	Add three years to the Retired Executive's attained age as of the Retirement Effective Date; and 

		
	•
	Add three years to Credited Service and years at the current Leadership Level as of the Retired Executive’s Retirement Effective Date. For commencements after December 31, 2019, Credited Service is limited to the years of service as of the Freeze Date, including any additional years provided in this paragraph; and

		
	•
	If service is provided under the immediately preceding paragraph, the Final Five Year Average Base Salary for a Retired Executive under the terms of this Plan shall be determined as if the Retired Executive had continued to receive Credited Service for up to three additional years after the Retirement Effective Date at the Retired Executive's Monthly Base Salary;

    
and (Y) is the DB SERP benefit determined under the terms of the DB SERP in effect as of the Retirement Effective Date.

The DB SERP Select Benefit determined as of the Retirement Effective Date shall be an amount equal to at least a fifteen percent (15%) improvement to the DB SERP benefit determined under the terms of the DB SERP in effect as of the Retirement Effective Date. 
              
		
	4.03
	ESAP Select Benefits.  The ESAP Select Benefit applicable to a Retired Executive who is otherwise eligible, or who becomes eligible, for an ESAP benefit under the terms of the ESAP in effect as of the Retirement Effective Date shall be an amount equal to the difference between (X) and (Y) where (X) is the ESAP benefit determined under the terms of the ESAP in effect as of the Retirement Effective Date after giving effect to the following adjustments: 

    
		
	•
	Add three years to the Retired Executive's attained age as of the Retirement Effective Date; and 

		
	•
	Add three years to Credited Service, Contributory Service (without the requirement of employee 

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contributions) and years at the current Leadership Level to the Retired Executive's years of service as of the Retirement Effective Date. For commencements after December 31, 2019, Credited Service and Contributory Service are limited to the years of service as of the Freeze Date, including any additional years provided in this paragraph. 

and (Y) is the ESAP benefit calculated under the terms of the ESAP in effect as of the Retirement Effective Date.

The ESAP Select Benefit determined as of the Retirement Effective Date shall be an amount equal to at least a fifteen percent (15%) improvement to the ESAP benefit determined under the terms of the ESAP in effect as of the Retirement Effective Date.
             
The amount of any ESAP Select Benefit payable determined for any Leadership Level One or Two Employee (or such employee's Eligible Surviving Spouse) shall be reduced in accordance with the provisions of the ESAP.

		
	4.04
	DEP Select Benefits.  The DEP Select Benefit applicable to a Retired Executive who is otherwise eligible for a DEP benefit under the terms of the DEP in effect as of the Retirement Effective Date, shall be an amount equal to the difference between (X) and (Y) where (X) is the DEP benefit determined under the terms of the DEP after adjusting Final Average Monthly Salary as if the Retired Executive had been a Contributing member and received Contributory Service for three additional years after the Retirement Effective Date at the Retired Executive's Salary and (Y) is the DEP benefit determined under the terms of the DEP in effect as of the Retirement Effective Date.

		
	4.05
	Special Select Benefits.  In addition to any other Select Benefits provided under this Plan, the Company may, in its sole discretion, provide Special Select Benefits to certain Eligible Executives.  Special Select Benefits provided to Eligible Executives whose compensation is subject to the executive compensation disclosure rules under the Securities Exchange Act of 1934 shall be set forth in Appendix A.  Special Select Benefits provided to Eligible Executives who are not subject to such disclosure rules shall be set forth in a separate confidential schedule to the Plan that is administered by the HR Director-Executive Personnel Office.  Any Special Select Benefits provided pursuant to this Section shall be paid in accordance with the terms and conditions of this Plan, including without limitation Section 5.

Section 5.  Payment of Select Benefits  

		
	5.01
	Except as otherwise provided herein, payment of Select Benefits determined under Section 4 shall commence on or as soon as reasonably practicable after the first day of the month following the date on which the Eligible Executive has a Separation From Service.

5.02    Select Benefits shall be payable monthly from the Company's general funds.

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	5.03
	Notwithstanding any other provision of the Plan to the contrary, but subject to the earning out provision of Section 7, if a Specified Employee incurs a Separation From Service, other than as a result of such Specified Employee's death, payment of any Select Benefit to such Specified Employee shall commence on or as soon as reasonably practicable after the first day of the seventh month following such Specified Employee's Separation From Service.  Any Select Benefits to which a Specified Employee otherwise would have been entitled during the first six months following such Specified Employee's Separation From Service shall be accumulated and paid in a lump sum payment on or as soon as reasonably practicable after the first day of the seventh month following such Separation From Service.  Any payment delayed under this Section shall not bear interest.

		
	5.04
	Payments to a Retired Executive shall cease at the end of the month in which the Retired Executive dies.  Except as otherwise provided herein, survivor benefits, if any, payable with respect to any Select Benefits provided under this Plan shall be paid as follows:

		
	(a)
	GRP Select Benefits.  Survivor benefits payable with respect to GRP Select Benefits shall be paid monthly to an Eligible Surviving Spouse as determined in accordance with Section 4.01.  GRP Select Benefits payable to a Retired Executive's Eligible Surviving Spouse shall commence as soon as reasonably practicable following the date of such Retired Executive's death, and continue until the death of the Eligible Surviving Spouse.

		
	(b)
	DB SERP Select Benefits.  Survivor benefits are payable, with respect to DB SERP Select Benefits, in accordance with the terms of the DB SERP.

		
	(c)
	ESAP Select Benefits.  In the event of death of a Retired Executive prior to attaining age 65, or in the event of death on or after January 1, 1981 of an Eligible Executive who (a) has not has a Separation From Service, (b) has at least five years of service at the Leadership Level One or Two, or its equivalent, has at least ten years of contributory membership in the GRP, and is at least age 55, ESAP Select Benefit payments shall be made to such Retired Executive's or Eligible Executive's, as applicable, Eligible Surviving Spouse, if any.  Such payments shall commence as soon as reasonably practicable following the date of such Retired Executive' s or Eligible Executive's death, and continue until the earlier of the death of such Eligible Surviving Spouse, or the end of the month in which such Retired Executive or Eligible Executive, as applicable, would have attained age 65.

		
	(d)
	DEP Select Benefits.  Survivor benefits payable with respect to DEP Select Benefits shall be paid monthly to an Eligible Surviving Spouse as determined in accordance with Section 4.04.  DEP Select Benefits payable to a Retired Executive's Eligible Surviving Spouse shall commence as soon as reasonably practicable following the date of such Retired Executive's death, and continue until the death of the Eligible Surviving Spouse.    

Section 6.  Reduction of Minimum Age Eligibility Requirement

		
	6.01
	Under Age 55 Select Benefits.  For an Eligible Executive who becomes eligible to receive a GRP Select Benefit prior to age 55 and prior to obtaining 30 years of Credited Service, the GRP Select Benefit shall be payable exclusively under this Plan 

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until such Eligible Executive reaches age 55.  When a benefit becomes payable at age 55 to the Eligible Executive under the GRP, the amount of the GRP Select Benefits shall be reduced by the benefit amount payable at age 55 from the GRP and the BEP. If the Eligible Executive is paid a lump sum, or an immediate annuity equivalence of a lump sum, under the GRP, the GRP Select Benefit at age 55 will be reduced by the amount of the monthly GRP and BEP annuity that otherwise would have been payable at age 55. 

Select Benefits payable as a result of an Eligible Executive being selected to receive Select Benefits prior to age 55 are not an acceleration of benefits under this Plan in violation of Code Section 409A.

		
	6.02
	Subsidiary Retirement Plans.  If an Eligible Executive under age 55 would have become eligible for a regular early retirement benefit from a Subsidiary's retirement plan if the Eligible Executive had remained in Subsidiary employment until the minimum age or service eligibility requirements under such Subsidiary's plan were met, this Plan shall pay an additional benefit in an amount equal to the Subsidiary early retirement benefit that would have been paid if the minimum eligibility requirements had been met on the Retirement Effective Date.  The payment shall cease at such time as the regular early retirement benefit from the Subsidiary's plan becomes payable.  If the Subsidiary's plan shall pay only a deferred vested benefit at age 55, payment of any Select Benefit provided under this Plan to an Eligible Executive shall be reduced by the amount of the deferred vested or survivor's benefit payable under such Subsidiary plan.  Select Benefits provided under this Plan to an Eligible Executive shall cease upon the Eligible Executive's death.  Survivor benefits, if any, shall cease upon the Eligible Surviving Spouse's death.  The amounts payable pursuant to this paragraph shall be in addition to any other Select Benefits that otherwise may be payable under this Plan.

Section 7.  Earning Out Conditions  

Notwithstanding anything in the Plan to the contrary, the right of any Retired Executive to receive Select Benefits payments hereunder for any month shall accrue, and such payments shall be payable (subject to Section 5), only if, during the entire period from the date of such Retired Executive’s Separation From Service to the end of such month in which payment otherwise would be made, such Retired Executive shall have earned out such payment by refraining from engaging in any activity that is directly or indirectly in competition with any activity of the Company or any Subsidiary or Affiliate thereof. 

In the event of a Retired Executive’s nonfulfillment of the condition set forth in the immediately preceding paragraph, no further payment shall be paid to such Retired Executive or Eligible Surviving Spouse; provided, however, that the nonfulfillment of such condition may at any time (whether before, at the time of, or subsequent to, termination of the Retired Executive’s employment) be waived in the following manner:

		
	(1)
	with respect to any such Retired Executive who, at any time, shall have been a member of the Board of Directors, a Leadership Level One employee or a Named Executive Officer, such waiver may be granted by the Compensation Committee upon its determination, in its sole discretion, that there shall not have been, and will not be, 

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any substantial adverse effect upon the Company or any Subsidiary or Affiliate thereof by reason of the nonfulfillment of such condition; and 

		
	(2)
	with respect to any other such Retired Executive, such waiver may be granted by the Committee upon its determination, in its sole discretion, that there shall not have been and will not be any such substantial adverse effect upon the Company or any Subsidiary or Affiliate thereof by reason of the nonfulfillment of such condition. 

Notwithstanding anything to the contrary herein, Select Benefit payments shall not be paid to, or with respect to, any person as to whom it has been determined that such person at any time (whether before, or subsequent to, termination of the Retired Executive’s employment) acted in a manner inimical to the best interests of the Company. Any such determination shall be made by (i) the Compensation Committee with respect to any Retired Executive who, at any time, shall have been a member of the Board of Directors, a Leadership Level One employee or a Named Executive Officer, and (ii) the Committee with respect to any other Retired Executive, and shall apply to any amounts payable after the date of the applicable committee’s action hereunder, regardless of whether the Retired Executive has commenced receiving Select Benefits. Conduct which constitutes engaging in an activity that is directly or indirectly in competition with any activity of the Company or any Subsidiary or Affiliate thereof shall be governed by the preceding paragraphs of this Section and shall not be subject to any determination under this paragraph. 
    
Section 8.  General Provisions

8.01    Plan Administration and Interpretation.

		
	(a)
	Notwithstanding any other provisions of the Plan to the contrary, the terms of the Plan shall determine the benefits payable to any person under the Plan, and no person shall be eligible for any benefit under the Plan that would be inconsistent with such terms.

		
	(b)
	Except as otherwise provided, full authority to administer and interpret this Plan shall be vested in the Committee. The Committee is authorized, in its sole discretion, from time to time, to establish such rules and regulations as it deems appropriate for the proper administration of the Plan, and to make such determinations under, and such interpretations of, and to take such actions in connection with, the Plan as it deems necessary or advisable. Each determination, interpretation, or other action hereunder by the Committee shall be final, binding and conclusive upon all persons for all purposes under the Plan. The Committee may act, in its sole discretion, to delegate administrative and interpretative authority under this Section to the Plan Administrator.  

		
	(c)
	In the event that an Article, Section or paragraph of the Code, Treasury Regulations, or Retirement Plans is renumbered, such renumbered Article, Section or paragraph shall apply to applicable references in this Plan.

		
	8.02
	Local Payment Authorities.  The Vice President and Treasurer and the Assistant Treasurer (or, in the event of a change in title, such officer’s functional equivalent) may act individually to delegate authority to administrative personnel for purposes of paying benefits under the Plan to any person.

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	8.03
	Deductions.  The Company may deduct from any payment of Select Benefits to a Retired Executive or Eligible Surviving Spouse any and all amounts owed to it by such Retired Executive, Eligible Surviving Spouse, or any person, for any reason, and all taxes required by law or government regulation to be deducted or withheld.

		
	8.04
	Tax Liabilities. The Company has no duty to design its compensation policies in a manner that minimizes an individual’s tax liabilities, including tax liabilities arising as a result of Select Benefits provided under the Plan. No claim shall be made against the Plan relating to tax liabilities arising from employment with the Company and/or compensation or benefit arrangements sponsored or maintained by the Company, including this Plan.

		
	8.05
	No Contract of Employment.  The Plan is an expression of the Company's present policy with respect to Eligible Executives; it is not a part of any contract of employment.  No Eligible Executive, Retired Executive, Eligible Surviving Spouse or any other person shall have any legal or other right to any benefit under this Plan.

		
	8.06
	No Company Reemployment.  A Retired Executive shall not be eligible for reemployment by the Company either directly or indirectly through an agency or otherwise.  This includes, but is not limited to, employment of a Retired Executive by the Company as a supplemental employee, independent contractor, consultant, advisor, or agency employee, regardless of the length of employment.  It also includes employment of a Retired Executive by a sole or single source supplier to the Company, or employment by any supplier of the Company if the responsibilities of the Retired Executive relate primarily to the Company's business with the supplier, and are not merely incidental to the performance of the Retired Executive's other job duties.  

This re-employment prohibition may be waived if the proposed employment advances the strategic interests of the Company or is otherwise determined to be in the best interests of the Company provided that, under the waiver, the employment arrangement does not permit the Retired Executive to perform 50% or more of a full-time position and such Retired Executive receives less than 50% of any compensation earned during the final three full calendar years of employment (or if less, such lesser period).  Requests for reemployment of a Retired Executive may be reviewed by (i) for a Retired Executive employed at a Leadership Level of LL5 through LL3 prior to Separation From Service, the Director of Personnel Relations and Employee Policies (or, in the event of a change in title, such director’s functional equivalent), (ii) for a Retired Executive employed at a Leadership Level of LL2 prior to Separation From Service, the Director of Personnel Relations and Employee Policies, the Group Vice President, Human Resources & Corporate Services, and the Executive Personnel Committee (EPC) (or, in the event of a change in title or name, such officer’s functional equivalent), or (iii) for a Retired Executive employed at a Leadership Level of LL1 prior to Separation From Service, the Compensation Committee.  The Retired Executive shall furnish such information about the proposed reemployment as is reasonably requested to evaluate the request.  Said individuals, the EPC, and/or the Compensation Committee who are authorized to review requests for re-employment shall have sole and absolute discretion to determine whether the request for 

11 of 15

reemployment violates this provision and any such determination is final and binding on all parties and is not subject to further review.

In the event a Retired Executive becomes reemployed in violation of this Section without obtaining a waiver, the Company may take such action, other than suspending payment of Select Benefits, as is reasonably necessary, in the Company's sole discretion, to enforce the provisions of this Section.  Such action may include forfeiting a Retired Executive's Select Benefits if the Retired Executive becomes employed by a sole or single source supplier to the Company, or employed by any supplier of the Company if the responsibilities of the Retired Executive relate primarily to the Company's business with the supplier, and are not merely incidental to the performance of the Retired Executive's other job duties, and the Retired Executive did not obtain a determination that such employment does not violate this Section or a waiver of the reemployment condition prior to commencing such employment.

Notwithstanding anything in this Section to the contrary, no determination or waiver shall permit reemployment if such reemployment would result in adverse tax consequences to the Retired Executive under Code Section 409A.

		
	8.07
	Select Benefits Not Funded.  The Company's obligations under this Plan shall not be funded.  Select Benefits under this Plan shall be payable only out of the general funds of the Company.

		
	8.08
	Continuing Plan.  The Plan shall be an ongoing Plan and shall be made available at the discretion of the Company.  The Company may designate certain periods within a calendar year in which offers of Select Benefits may be made and may provide that no offers of Select Benefits may be accepted before or after designated dates within a calendar year.  The Company also may limit the offer of Select Benefits to those within a designated salary roll or band.  Select Benefits may be combined with additional types of termination incentives or separation programs upon the direction of the Company.  Provisions of such other termination incentives or separation programs are not governed by the terms of this Plan.

		
	8.09
	Governing Law.  Except as otherwise provided under Federal law, the Plan, and all rights thereunder, shall be governed, construed and administered in accordance with the laws of the State of Michigan.

		
	8.10
	Amendment or Termination.  The Company shall have the right to amend, modify, discontinue or terminate this Plan, in whole or in part,  at any time, without notice; provided, however, that no distribution of Select Benefits shall occur upon termination of this Plan, unless applicable requirements of Code Section 409A have been met. Notwithstanding anything to the contrary herein, benefits payable under this Plan remain subject to the claims of the Company’s general creditors at all times. 

		
	8.11
	Terms Not Otherwise Defined.  Capitalized terms not otherwise defined in this Plan shall have the same meanings ascribed to such terms under the applicable Retirement Plans. 

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	8.12
	No Alienation of Benefits. An Eligible Executive may not assign or alienate any Select Benefits, and the Plan will not recognize a domestic relations order that purports to assign any Select Benefit to another person.

		
	8.13
	Recovery of Overpayment.  Any individual shall repay promptly any and all Select Benefits received by the individual to which the individual is not entitled.  Written notice of any overpayment, the amount owed and actions that may be taken in connection with the overpayment will be sent to the individual.  If an individual fails to make timely repayment, this Plan shall proceed to recover the overpaid amount.  This Plan reserves the right to initiate formal recovery action through the use of a collection agency or through any applicable legal proceedings.

Section 9.  Code Section 409A

		
	(a)
	All benefits provided under the Plan are intended to be exempt from, or in compliance with, Code Section 409A, and the regulations issued thereunder, and the Plan is to be construed accordingly.  The Company reserves the right to take such action as the Company deems necessary or desirable to ensure benefits provided under the Plan are exempt from, or comply with, as applicable, Code Section 409A, and the regulations issued thereunder.

		
	(b)
	In no event shall any transfer of liabilities to or from this Plan result in an impermissible acceleration or deferral of Select Benefits under Code Section 409A. In the event such a transfer would cause an impermissible acceleration or deferral under Code Section 409A, such transfer shall not occur.

		
	(c)
	In no event will application of any eligibility requirements under this Plan cause an impermissible acceleration or deferral of any Plan benefits under Code Section 409A.

		
	(d)
	In the event a Retired Executive who is receiving or is entitled to receive, Select Benefits is reemployed following a Separation From Service, distribution of any Select Benefits shall not cease or be deferred upon such Retired Executive's reemployment.

		
	(e)
	After receipt of any benefits under the Plan, the obligations of the Company with respect to such benefits shall be satisfied and no Eligible Executive, Eligible Surviving Spouse, beneficiary, or other person shall have any further claims against the Plan or the Company with respect to Plan benefits.

Section 10. Claim for Benefits

		
	10.01
	Denial of a Claim.  A claim for benefits under the Plan shall be submitted in writing to the Plan Administrator.  If a claim for benefits or participation is denied in whole or in part by the Plan Administrator, the claimant will receive written notification within 90 days from the date the claim for benefits or participation is received.  Such notice shall be deemed given upon mailing, full postage prepaid in the United States mail or on the date sent electronically to the claimant.  If the Plan Administrator determines that an extension of time to consider a claim and render a decision is needed, written notice of the extension shall be furnished to the claimant as soon as practical. 

13 of 15

		
	10.02
	Review of Denial of Claim. In the event that the Plan Administrator denies a claim for benefits or participation, the claimant may request a review by filing a written appeal. If the appeal is from an active Leadership Level One employee, a Named Executive Officer or any individual who, at any time, shall have been a member of the Board of Directors, the appeal will be heard by the Compensation Committee. If the appeal is from any other appellant, the appeal will be heard by the Committee. All appeals must be filed within sixty (60) days of the date of the written notification of denial.  The appeal will be considered and a decision shall be rendered within 90 days from the date the appeal is received. Under special circumstances, an extension of time to consider the appeal and render a decision may be needed, in which case a decision shall be rendered as soon as practical. In the event such an extension of time is needed to consider the appeal and render a decision, written notice of such time extension shall be provided to the appellant.  

		
	10.03
	Decision on Appeal. The decision on review of the appeal shall be in writing. Such notice shall be deemed given upon mailing, full postage prepaid in the United States mail or on the date sent electronically to the appellant.  Decisions rendered on the appeal are final and conclusive and are only subject to the arbitrary and capricious standard of judicial review.

		
	10.04
	Limitations Period.  No legal action for benefits under the Plan may be brought against the Plan until after the claim and appeal procedures have been exhausted.  Legal actions under the Plan for benefits must be brought no later than two (2) years after the date of the denial of the appeal.  No other action may be brought against the Plan more than six (6) months after the date of the last action that gave rise to the claim.

		
	10.05
	Venue.  An individual shall only bring an action in connection with the Plan in the United States District Court for the Eastern District of Michigan.

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Appendix A
Special Select Benefits

Named Executive Officers

Section 1.  Special Select Benefits Based on Notional Service and Salary  

Special Select Benefits will be provided to each Eligible Executive listed in Subsection 1.05 below for the period of time during which such Eligible Executive did not receive a cash base salary from the Company by determining the Select Benefits that otherwise would have been provided to such Eligible Executive for such period using notional service and salary as follows; provided that, in no event shall an Eligible Executive receive both Select Benefits and Special Select Benefits for the same period of service. For purposes of determining the benefits described in this Appendix, the Freeze Date is determined after including the notional years of service.  For Separations From Service after the Freeze Date, in no event shall the Eligible Executive receive benefits under this Plan based on years of service earned or salary paid after the Freeze Date.

		
	1.01
	Contributory Service.  Contributory Service, if any, for each such Eligible Executive for any period of time during which the Eligible Executive did not receive a cash base salary shall be determined by the Committee, in its sole discretion, based on the contributory service the Eligible Executive would have accrued had the Eligible Executive participated in the GRP on a contributory basis during such period of time.

		
	1.02
	Credited Service.  Credited Service, if any, for each such Eligible Executive for any period of time during which the Eligible Executive did not receive a cash base salary shall be determined by the Committee, in its sole discretion, based on the service the Eligible Executive would have accrued had the Eligible Executive participated in, and accrued credited service under, the GRP during such period of time.

		
	1.03
	Monthly Base Salary.  Monthly Base Salary for each such Eligible Executive shall be determined by the Committee, in its sole discretion, based on a notional monthly base salary for the period of time during which the Eligible Executive did not receive a cash base salary.

		
	1.04
	Final Average Monthly Salary.  Final Average Monthly Salary for each such Eligible Executive shall be determined by the Committee, in its sole discretion, based on a notional monthly base salary for the period of time during which the Eligible Executive did not receive a cash base salary.

		
	1.05
	Affected Eligible Executives.  The following Eligible Executive’s Special Select Benefits shall be determined in accordance with this Section:

William Clay Ford, Jr.

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