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Juan Mendes

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em: 15 de Julho de 2009, 19:19
Ex-GM CEO Richard Wagoner To Retire, With Retirement Package Of Atleast $8.2 Mln -

 Motors Liquidation Co., formerly known as General Motors Corp. (GMGMQ.PK: News ), said on Tuesday that its former chief executive officer, Rick Wagoner, will retire on August 1 with a retirement package of about $8.2 million. Under the previous agreement, Rick Wagoner was eligible for $20.2 million in retirement pay.

In a regulatory filing, Rick Wagoner and Motors Liquidation entered into an agreement on July 8 setting forth the terms of Wagoner's pension benefits pursuant to the terms of the Salaried Retirement Program, or SRP, and the Executive Retirement Plan, or ERP.

The Retirement Agreement provides that subject to plan terms, Rick Wagoner will be entitled to retirement benefits under the SRP based on 32 years of service as of August 1, in the annual amount of $74,030 for his lifetime, and benefits under the ERP in the annual amount of $1.64 million for five years, an amount reduced consistent with the ERP reductions implemented for current Motors Liquidation retirees.

Rick Wagoner will continue to receive Personal Umbrella Liability Insurance coverage in retirement at a level consistent with other retired Motors Liquidation executives until January 1, 2010. He will also receive an existing life insurance policy, which the corporation has maintained for his benefit since January 1, 1997, or its cash value, currently $2.57 million. Motors Liquidation will not pay additional premiums on the policy. The Retirement Agreement was assigned to New GM in connection with the 363 Sale.
« Última modificação: 15 de Julho de 2009, 19:19 por jmmp »



Dunadan

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em: 15 de Julho de 2009, 19:44
Deviam ter feito o mesmo com o Embuste.




 


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