Dana Holding Corporation Executive Perquisite Plan (Effective May 1, 2008)

Contract Categories: Human Resources › Compensation Agreements
Summary

Dana Holding Corporation has established an Executive Perquisite Plan, effective May 1, 2008, which provides an annual cash allowance to certain executives, including the Executive Chairman, Chief Executive Officer, Executive Committee members, and Vice Presidents. The allowance amounts vary by title and are paid in lieu of traditional executive perquisites. These payments are not included in benefit or incentive compensation calculations and cannot be deferred under any Dana plan.

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EX-10.4 5 l31037aexv10w4.htm EX-10.4 EX-10.4  

Exhibit 10.4
DANA HOLDING CORPORATION
Executive Perquisite Plan
On April 16, 2008, upon the recommendation of the Compensation Committee, the Board of Directors of Dana Holding Corporation (Dana) approved and adopted an executive perquisite plan (Executive Perquisite Plan). The Executive Perquisite Plan provides for an annual cash allowance to eligible employees (including our named executive officers) in lieu of certain executive perquisites effective May 1, 2008. An annual allowance will be payable as indicated below:
         
Title   Cash Allowance ($)
Executive Chairman
     75,000  
Chief Executive Officer
     75,000  
Other Members of the Executive Committee
     35,000  
Vice President
     20,000  
The cash allowance will be excluded from benefit and incentive compensation calculations under Dana’s benefit programs and will not be eligible for deferral under any Dana plan or arrangement.