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  • Add You - GM Makes Exec Exit Policies More Stringent

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    only way to collect.

    According to GM's proxy filed April 27, Wagoner stands to receive

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    General Motors Corp.'s executives like Rick Wagoner, have a multimillion dollar golden parachute to protect them if the company is ever to be taken over. But this year, the automaker made its policies under which its top executives can receive severance payouts more stringent. Before they could get millions in takeover, now dismissal without cause is the automaker’s only way to collect.

    According to GM's proxy filed April 27, Wagoner stands to receive

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    hute to protect them if the company is ever to be taken over. But this year, the automaker made its policies under which its top executives can receive severance payouts more stringent. Before they could get millions in takeover, now dismissal without cause is the automaker’s only way to collect.

    According to GM's proxy filed April 27, Wagoner stands to receive

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    ade its policies under which its top executives can receive severance payouts more stringent. Before they could get millions in takeover, now dismissal without cause is the automaker’s only way to collect.

    According to GM's proxy filed April 27, Wagoner stands to receive

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    Before they could get millions in takeover, now dismissal without cause is the automaker’s only way to collect.

    According to GM's proxy filed April 27, Wagoner stands to receive

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    only way to collect.

    According to GM's proxy filed April 27, Wagoner stands to receive up to $14 million in severance and stock payouts. Other GM top execs have similar exit packages. In the past, only a change of control at GM was necessary to activate the payouts. But under the automaker’s new policy, the executives also would have to be fired without cause to receive the payouts. Corporate governance experts said that revised policy is more reasonab

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