ALLY FINANCIAL INC. SEVERANCE PLAN PLAN DOCUMENT AND SUMMARY PLAN DESCRIPTION As Amended March 8, 2012 ALLY FINANCIAL INC. SEVERANCE PLAN TABLE OF CONTENTS Page I.Purpose of the Plan4 II.Eligibility and Participation4 III.Qualified Terminations of Employment5 IV.Plan Benefits6 V.Participants Obligations7 VI.Tax Matters9 VII.Administration, Amendment and Termination10 VIII.Claims Procedure10 IX.Other Information10 X.Statement of ERISA Rights11 XL.Questions Regarding The Plan12 XIL.Miscellaneous12

Elimination of current position or reduction in the total number of employees in the same department performing the same or similar job.

Substantial change in current duties for which the employee no longer qualifies.

Substantial change in current duties which results in a twenty percent (20%) or more reduction in salary.

Declining a geographic transfer to a new position offered to employee upon the elimination of current position as an alternative to termination, provided that the expenses associated with the transfer would qualify for receipt of benefits under the Relocation Program.

Loss of temporary employment

Termination of employment where an employment or other written agreement provides for severance

Death

Disability

Involuntary termination for cause as determined by the Company in its sole discretion

Resignation

Retirement

An approved Leave of Absence or failure to return from an approved Leave of Absence

Transfers from the Company to a Company affiliate.

The majority of the Company’s assets are sold via an asset purchase agreement or the Company ceases an operation and the same is assumed by another employer, and continued employment is offered with a comparable salary and target incentive or equity compensation opportunity (greater than 80% of current compensation and incentive package).

A termination of employment for which a Participant has executed a severance and release document or has received benefits pursuant to the terms of any other severance plan.

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

as such disclosure or use may be required or appropriate in connection with his or her work as an employee of the Company; or

when required to do so by a court of law, by any governmental agency having supervisory authority over the business of the Company or by any administrative or legislative body (including a committee thereof) with apparent jurisdiction to order him or her to divulge, disclose or make accessible such information; or

as to such confidential information that becomes generally known to the public or trade without his or her violation of this Section V-B; or

to the Participant's spouse, attorney, and/or his or her personal tax and financial advisors as reasonably necessary or appropriate to advance the Participant's tax, financial and other personal planning (each an “Exempt Person”), provided, however, that any disclosure or use of any trade secret or proprietary or confidential information of the Company by an Exempt Person shall be deemed to be a breach

Examine, without charge, at the plan administrator’s office and at other

Obtain upon written request to the plan administrator copies of documents governing the operation of the Plan and copies of the latest annual report (Form 5500 Series), if any, and updated summary plan description. The plan administrator may make a reasonable charge for the copies.

Receive a summary of the Plan’s annual financial report. The plan administrator is required by law to furnish each participant with a copy of this summary annual report.

A participant (“claimant”) with an interest in the Ally Financial Inc. Severance Plan (the “Plan”) shall have the right to file a claim for benefits under the Plan and to appeal any denial of a claim for benefits. Any request for a Plan benefit or to clarify the claimant's rights to future benefits under the terms of the Plan shall be considered to be a claim. (However, this claims procedure does not govern casual inquiries about benefits or the circumstances under which benefits might be paid under the terms of the Plan, nor does it govern a request for a determination regarding eligibility for coverage except such a determination as is requested or necessary in connection with a claim for benefits.) An authorized representative of the claimant may act on behalf of the claimant in pursuing a benefit claim or appeal of an adverse benefit determination. The individual or individuals responsible for deciding the benefit claim or appeal, as applicable, may require the representative to provide reasonable written proof that the representative has in fact been authorized to act on behalf of the claimant. The Plan requires no fee or other cost for the making of a claim or appealing an adverse benefit determination.

A claim for benefits will be considered as having been made when submitted in writing by the claimant to the plan administrator, in care of:

A claim for benefits will be considered as having been made when submitted in writing by the claimant to the plan administrator, in care of: The Vice President of Total Rewards of the Company, acting on behalf of the plan administrator, will determine whether, or to what extent, the claim may be allowed or denied under the terms of the Plan. If the claim is wholly or partially denied, the plan administrator shall notify the claimant of the Plan's adverse benefit determination

The plan administrator shall provide a claimant with written or electronic notification of any adverse benefit determination. Any electronic notification shall comply with the standards imposed by 29 CFR § 2520.104b-1(c)(i), (iii) and (iv). The notification shall set forth, in a manner calculated to be understood by the claimant:

The specific reason(s) for the adverse determination;

Reference to the specific Plan provisions on which the determination is based;

A description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or information is necessary; and

A description of the Plan’s appeal (review) procedures and the time limits applicable to such procedures, including a statement of the claimant’s right to bring a civil action under ERISA § 502(a) following an adverse benefit determination on appeal.

The claimant may appeal an adverse benefit determination to the Vice President of Total Rewards acting on behalf of the plan administrator. The Vice President of Total Rewards shall conduct a full and fair review of each appealed claim and its denial. The claimant shall have at least 60 days following receipt of a notification of an adverse benefit determination within which to appeal the determination.

The claimant may appeal an adverse benefit determination to the Vice President of Total Rewards acting on behalf of the plan administrator. The Vice President of Total Rewards shall conduct a full and fair review of each appealed claim and

The appeal of an adverse benefit determination must be made in writing. In connection with making such request, the claimant may submit written comments, documents, records, and other information relating to the claim for benefits. The claimant shall be provided, free of charge upon written request, reasonable access to, and copies of, all documents, records and other information relevant (as defined in paragraph (k) below) to the claimant's claim for benefits. In considering the appeal the Vice President of Total Rewards shall take into account all comments, documents, records, and other information submitted by the claimant relating to the claim, without regard to whether such information was submitted or considered in connection with the initial benefit determination.

The plan administrator shall provide a claimant with written or electronic notification of the Plan's benefit determination on appeal. Any electronic notification shall comply with the standards imposed by 29 CFR § 2520.104b-1(c)(i), (iii) and (iv). In the case of an adverse benefit determination on appeal, the notification shall set forth, in a manner calculated to be understood by the claimant:

The specific reason(s) for the adverse determination;

Reference to the specific Plan provisions on which the benefit determination is based;

A statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant (as defined in paragraph (k) below) to the claimant's claim for benefits; and

A statement of the claimant's right to bring a civil action under ERISA § 502(a).

The claimant must exhaust his or her rights to file a claim and to appeal an adverse benefit determination before bringing any civil action to recover benefits due to him under the terms of the Plan, to enforce his or her rights under the terms of the Plan, or to clarify his or her rights to future benefits under the terms of the Plan.

The Vice President of Total Rewards shall exercise his or her responsibilities and authority under this claims procedure as a fiduciary and, in such capacity, shall have the discretionary authority and responsibility (1) to interpret and construe the Plan and any rules or regulations under the Plan, (2) to determine the eligibility of employees to participate in the Plan, and the rights of participants and former participants and any other claimants to receive benefits under the Plan, and (3) to make factual determinations in connection with any of the foregoing. The Vice President of Total Rewards may, in his or her discretion, determine to hold a hearing or hearings in carrying out his or her responsibilities and authority under this claims procedure.

Benefit claim determinations and decisions on appeals shall be made in accordance with governing Plan documents. The Plan's provisions shall be applied consistently with respect to similarly situated claimants. The Vice President of Total Rewards shall maintain complete records of his or her proceedings in deciding claims and appeals.

Definitions. For the purposes of this Claims Procedure the following definitions apply: