Details from GMs plan for recovery - Exec Comp and Benefits - 1 Dec 2008

It is longstanding GM policy for senior executives to
have most (80% or more) of their compensation at risk based on the
company’s performance to align with shareholder interests. For the past
five years, executives have not received the majority of the value from
this at-risk compensation as: all stock options are underwater;
long-term plans based on relative total shareholder return have not
paid out; and other equity-based compensation has significantly
declined in value. GM’s Chairman and CEO and Vice Chairmen made
voluntary reductions in their salaries by as much as 50% in 2006 and
2007, and are willing to make further sacrifices for 2009. Such
sacrifices are as follows:

· The Chairman and CEO will reduce his salary to $1 for 2009. He will not receive an annual bonus for 2008 and 2009.

· Consistent with this action, members of the GM Board of Directors will reduce their annual retainer to $1 for 2009.

· The next four most senior officers (Executive Vice Presidents and
above) will reduce their total cash compensation by approximately 50%
in 2009, which includes no bonus paid for 2008 and 2009 and a 30%
salary reduction for the President and COO, and 20% salary reductions
for the remaining three.

The company believes the above actions on senior officer and
performance-linked compensation recognize its obligations to both
protect taxpayer interests and retain employees vital to a successful
restructuring, and deliver maximum value to our shareholders.