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(c) Upon joining the Board in July 2009, Mr. Bonderman requested that his annual retainer of $200,000 for<br />

service on the Board be reduced to one dollar. Effective August 2010, his annual Board retainer of $200,000<br />

was reinstated.<br />

(d) Mr. Kresa retired from the Board effective August 3, 2010.<br />

(e) Ms. Russo was appointed Lead Director on March 2, 2010.<br />

(f) Dr. Telles joined the Board on April 13, 2010.<br />

All Other Compensation<br />

Totals for amounts reported as “All Other Compensation” in the preceding “2010 Non-Employee Director<br />

Compensation” table are described below:<br />

Director<br />

Aggregate<br />

Earnings on<br />

Deferred<br />

Compensation<br />

<strong>Company</strong><br />

Vehicle (a) Other (b) Total<br />

($) ($) ($) ($)<br />

David Bonderman 0 8,025 120 8,145<br />

Erroll B. Davis, Jr. (c) 1,167 8,025 120 9,312<br />

E. Neville Isdell 0 8,025 120 8,145<br />

Robert D. Krebs 0 8,025 120 8,145<br />

Kent Kresa (c) 940 7,356 80 8,376<br />

Philip A. Laskawy 0 8,025 120 8,145<br />

Kathryn V. Marinello 0 8,025 120 8,145<br />

Patricia A. Russo 0 8,025 120 8,145<br />

Carol M. Stephenson 0 8,025 120 8,145<br />

Cynthia A. Telles 0 4,681 80 4,761<br />

(a)<br />

(b)<br />

(c)<br />

Includes incremental costs for company vehicles which are calculated based on the average monthly cost of<br />

providing vehicles to all directors, including lost sales opportunity and incentive costs, if any; insurance<br />

claims, if any; licensing and registration fees; and use taxes.<br />

Reflects cost of premiums for providing personal accident insurance. If a director elected to receive<br />

coverage, the taxes related to the imputed income are the responsibility of the director.<br />

We assumed the <strong>General</strong> <strong>Motors</strong> Corporation Compensation Plan for Non-Employee Directors (“Old GM<br />

Director Compensation Plan”), and it remains in place with respect to past deferrals of compensation to Old<br />

GM directors who are members of our Board. The amounts reported under “Aggregate Earnings on<br />

Deferred Compensation” reflect interest on fees for service on the Old GM Board deferred in cash-based<br />

alternatives. Old GM did not credit interest at above-market rates. In general, Old GM did not pay deferred<br />

amounts until January following the director’s retirement or separation from the Old GM Board. Old GM<br />

then paid those amounts, either in lump sum or in annual installments for up to ten years based on the<br />

director’s deferral election.<br />

Compensation Committee Interlocks and Insider Participation<br />

No executive officer of GM served on any board of directors or compensation committee of any other<br />

company for which any of our directors served as an executive officer at any time during the year ended<br />

December 31, 2010.<br />

Director Stock Ownership Requirements and Holding Requirement<br />

Effective January 1, 2011, each non-employee director is required to own Common Stock or related share<br />

units with a market value of at least $300,000. Each director has up to five years from the later of the effective<br />

date or the date he or she is first elected to the Board to meet this ownership requirement. Under this policy,<br />

non-employee directors are prohibited from selling any securities issued by the <strong>Company</strong> (or derivatives related<br />

to those securities) while they are members of the Board. This policy is set forth in our Board’s Corporate<br />

Governance Guidelines, and the Board intends to review it annually to ensure that it is effective in aligning the<br />

interests of the Board and our stockholders.<br />

22

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