GM » Topics » Benefits Payable at Death.

This excerpt taken from the GM DEF 14A filed Apr 25, 2008.
Benefits Payable at Death. Upon death of an active employee, GM provides one month salary to certain dependents including surviving spouses, members of employee’s family, or other individuals who are to be responsible for payment of funeral expenses. This benefit is provided generally for all salaried employees. In addition, the Corporation provides survivors a monthly pension benefit at a rate of 65 percent of the monthly retirement benefit payable to the employee where the survivor option has been elected. Supplemental Life Benefits are provided for all executives and an individual split-dollar life insurance policy is maintained for Mr. Wagoner. Benefits payable thereunder at December 31, 2007, for Mr. Wagoner totaled $11,000,000. For Supplemental Life Benefits Program and split-dollar benefit calculation purposes, salaries in effect prior to March 1, 2006 for Messrs. Wagoner, Henderson, and Lutz were used.

      

This excerpt taken from the GM DEF 14A filed Apr 27, 2007.
Benefits Payable at Death. Upon death, GM provides one month salary to certain dependents including surviving spouses, members of employee’s family, or other individuals who are to be responsible for payment of funeral expenses. This benefit is provided generally for all salaried employees. In addition, the Corporation provides survivors a monthly pension benefit at a rate of 65 percent of the monthly retirement benefit payable to the employee where the survivor option has been elected. Supplemental Life Benefits are provided for all executives and individual split-dollar life insurance policies were maintained for Messrs. Wagoner and Devine. Benefits payable thereunder at December 31, 2006, for Mr. Wagoner totaled $11,000,000; and, for Mr. Devine totaled $7,750,000. For Supplemental Life Benefit Plan and split-dollar benefit calculation purposes, the original salaries for 2006 for Messrs. Wagoner, Henderson, Lutz, Gottschalk, and Devine were used.

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