Ally Bank 2011 Annual Report Download - page 295
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Band 3 and Band 4 Band 2
Full Years of Unbroken Service Weeks of Pay Full Years of Unbroken Service Weeks of Pay
Less than 1 4 Less than 1 8
1418
2428
3538
4648
5959
6 10 6 10
7 11 7 11
8 12 8 12
9 13 9 13
10 16 10 16
11 17 11 17
12 18 12 18
13 19 13 19
14 20 14 20
15 23 15 23
16 24 16 24
17 25 17 25
18 26 18 26
19 27 19 27
20 and more 35 20 and more 35
B.Level II Participants are eligible for the following Severance Pay:
• 0−4 full years of unbroken service: 26 weeks of pay
• 5−14 full years of unbroken service: 39 weeks of pay
• 15 and above full years of unbroken service: 52 weeks of pay
C.Base salary for the purpose of determining commission−eligible employees’ Severance Pay is deemed to be $50,000
annually.D.Any debts or monies Participant owes to the Company or its subsidiaries or affiliates will be deducted from the
Severance Pay amounts described in A & B above.
E.Outplacement. Each Participant shall be eligible to receive outplacement benefits following a Qualified Termination of
Employment through an approved vendor, provided that the scope, level, amount, timing, and all other terms and conditions of
such outplacement benefits shall be determined by the Committee in its sole discretion and on