Ally Bank 2011 Annual Report Download - page 248

Table of Contents
Ally Financial Inc. • Form 10−K
William Muir — President of Ally Financial Inc. since 2004. Mr. Muir oversees the Company's auto finance, insurance, vehicle remarketing, and
service operations. Mr. Muir is also chairman of Ally Insurance Group , and a member of the Ally Commercial Finance and Ally Bank Boards of Directors.
In making the incentive compensation determination for Mr. Muir, the Committee considered the performance objectives and accomplishments of Ally. The
significant additional 2011 performance objectives and accomplishments for Mr. Muir are included in the table below.
2011 Performance Objectives 2011 Accomplishments
Capitalize on opportunities in the auto finance business Continued profitability in the Global Automotive Services business
Ally ranked as the number one overall auto lender in the United States by
Experian Automotive
Increased consumer auto financing originations for new and used vehicles
Named the recommended provider of financing products and services for
Vehicle Production Group, Baojun, and SsangYong
Expanded Ally Buyer's Choice, a unique consumer financing product
launched in October, to a total of 47 states to date
James G. Mackey — Chief Financial Officer of Ally since June 2011. Mr. Mackey is responsible for the oversight of the Company's financial analysis,
controls and reporting, accounting, business planning, and investor relations. In making the incentive compensation award determination for Mr. Mackey,
the Committee considered the performance objectives and accomplishments of Ally. The significant additional 2011 performance objectives and
accomplishments for Mr. Mackey are included in the table below.
2011 Performance Objectives 2011 Accomplishments
Drive improvements in organization, process & technology Implemented new financial forecasting system, forecast accuracy scorecards
for LOB and completed finance technology long range plan
Position Ally to repay the United States Department of Treasury as soon as
practical The United States Treasury sold $2.7 billion of Trust Preferred Securities to third−party investors
To date, Ally Financial has paid $5.4 billion to the United States Treasury
including preferred dividends
Support strategic growth of the businesses Developed growth and benchmarking metrics for each business and
implemented annual business unit survey
Benefits and Perquisites
We provide our NEOs with health and welfare benefits under the broad−based program generally available to all of our employees. This allows them
to receive certain benefits that are not readily available to individuals except through an employer and to receive certain benefits on a pretax basis. Our
benefit program includes the Ally Retirement Savings Plan. We provide the savings plan in lieu of higher current cash compensation to ensure that
employees have a source of retirement income and because these plans enjoy more favorable tax treatment than current compensation. Under this plan,
employee contributions of up to 6% of salary were matched 100% by Ally. The plan also provided a 2% nonmatching contribution on both salary and
annual incentives, which fully vests after being employed for three years, and a 2% nonmatching discretionary contribution on salary in light of the
Company's 2011 performance.
Ally suspended nonqualified contributions to its Retirement Savings Plan in 2009 and did not make any additional nonqualified contributions in 2011.
Therefore, employer contributions for 2011 were made only under the qualified portion of the plan only which limits contributions to pay up to $245,000.
In addition to broad−based benefits, the NEOs are provided with limited supplemental benefits and perquisites to remain competitive in attracting and
retaining executive talent. For 2011, in accordance with the TARP restrictions, the total value of these perquisites and supplemental benefits was capped at
$25,000.
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