Restatement of Salaried Savings Plan

EXHIBIT 10.2


RESTATEMENT OF THE
AMERICAN AXLE & MANUFACTURING, INC.
SALARIED SAVINGS PLAN


EFFECTIVE JANUARY 1, 1999


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TABLE OF CONTENTS


PAGE


ARTICLE I - DEFINITION OF TERMS....................................................................................1
1.1 Account..............................................................................................1
1.2 Act..................................................................................................2
1.3 Actual Deferral Percentage...........................................................................2
1.4 Administrator........................................................................................2
1.5 Affiliated Employer..................................................................................2
1.6 Aggregation Group....................................................................................2
1.7 After-Tax Account....................................................................................2
1.8 American Axle Stock..................................................................................3
1.9 American Axle Stock Fund.............................................................................3
1.10 Annual Addition......................................................................................3
1.11 Annual Earnings Base..................................................................................3
1.12 Annuity Starting Date.................................................................................3
1.13 Break in Service......................................................................................3
1.14 Code..................................................................................................3
1.15 Compensation..........................................................................................3
1.16 Compensation Committee................................................................................4
1.17 Contribution Percentage...............................................................................4
1.18 Corporation...........................................................................................4
1.19 Credited Service......................................................................................4
(a) Year of Credited Service..............................................................................4
(b) Vesting Computation Period............................................................................5
(c) Years of Credited Service for Vesting.................................................................5
(1) Effective Date.......................................................................................5
(2) Age..................................................................................................5
(3) Breaks in Service....................................................................................6
(A) Waiting Period.......................................................................................6
(B) Application of Post-Break Service to Pre-Break Account...............................................6
(C) Application of Pre-Break Service to Post-Break Account...............................................6
(d) Approved Absences.....................................................................................7
(1) Compensable Disability Leave of Absence..............................................................7
(2) Layoff or Noncompensable Disability Leave of Absence.................................................7
(3) Collective Bargaining Agreements.....................................................................8
(4) Maternity or Paternity Absences......................................................................8
(5) Reemployed Veterans..................................................................................9
(A) Uniformed Services...................................................................................9
(B) Service in a Uniformed Service......................................................................10
(C) Reemployed Veterans.................................................................................10
(i) Breaks in Service.............................................................................10
(ii) Recognition of Service........................................................................10
(iii) Corporation Funding Obligation................................................................10
(iv) Employee Funding Obligation...................................................................11
(D) Eligible Salary.....................................................................................11
(E) Limitations of Make-Up Contributions................................................................12
(e) Equivalencies Based on Periods of Employment.........................................................12
(f) Transition Employees.................................................................................13


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1.20 Cumulative Account...................................................................................13
1.21 Cumulative Accrued Benefit...........................................................................13
1.22 Current Market Value.................................................................................13
(a) Mutual Funds.........................................................................................13
(b) Trusteed Funds.......................................................................................14
(c) American Axle Stock Fund.............................................................................14
1.23 Date of Valuation....................................................................................14
1.24 Determination Date...................................................................................14
1.25 Election Period......................................................................................14
1.26 Eligible Retirement Plan.............................................................................14
1.27 Eligible Rollover Distribution.......................................................................14
1.28 Eligible Salary......................................................................................14
(a) Salary...............................................................................................14
(b) Commission...........................................................................................15
(c) Disability...........................................................................................15
(d) Elective Deferrals...................................................................................15
(e) Maximum Limitation...................................................................................15
(f) Family Aggregation Rules................................................................................16
1.29 Employees............................................................................................16
(a) General Definition...................................................................................16
(b) Controlled Group Employees...........................................................................16
(c) Leased Employees.....................................................................................17
(d) Union Employees......................................................................................18
(e) Directors............................................................................................18
(f) Independent Contractors..............................................................................18
1.30 Financial Hardship...................................................................................19
(a) Construction Principal Residence.....................................................................19
(b) Eviction or Foreclosure Principal Residence..........................................................19
(c) Tuition..............................................................................................19
(d) Medical Expense......................................................................................19
1.31 401(k) Account.......................................................................................19
1.32 Highly Compensated Employees.........................................................................20
(a) Five Percent Owner...................................................................................20
(b) Compensation.........................................................................................20
(c) Definitions..........................................................................................20
(1) Top Paid Group......................................................................................20
(a) Waiting Period......................................................................................20
(b) Hours of Service....................................................................................20
(c) Months of Service...................................................................................20
(d) Age 21
(e) Union...............................................................................................21
(f) Nonresident Aliens..................................................................................21
(2) Former Employee.....................................................................................21
(a) At Separation.......................................................................................21
(b) At Age 55...........................................................................................21
(3) Controlled Group....................................................................................22
1.33 Hour of Service......................................................................................22
(a) Performance of Services..............................................................................22
(b) Payments for Non-Performance.........................................................................22
(1) Maximum Hours Credited..............................................................................22
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(2) Worker's Compensation...............................................................................23
(3) Medical Payments....................................................................................23
(4) Indirect Payments...................................................................................23
(5) Calculation of Hours................................................................................23
(6) Computation Period..................................................................................24
(c) Department of Labor Regulations......................................................................24
1.34 Individual Retirement Plan...........................................................................24
1.35 Key Employee.........................................................................................24
1.36 Limitation Year......................................................................................24
1.37 Management Benefits Committee........................................................................24
1.38 Management Investment Committee......................................................................24
1.39 Matching Account.....................................................................................24
1.40 Mutual Fund..........................................................................................25
1.41 Mutual Fund Company..................................................................................25
1.42 Non-Highly Compensated Employee......................................................................25
1.43 Named Fiduciary......................................................................................25
1.44 Normal Retirement Age................................................................................25
1.45 Participant..........................................................................................25
1.46 Plan.................................................................................................25
1.47 Plan Year............................................................................................25
1.48 Predecessor Corporation..............................................................................25
1.49 Predecessor Plans and Trusts.........................................................................26
1.50 Prime Rate...........................................................................................26
1.51 Profit Sharing Amount................................................................................26
1.52 Qualified Plan.......................................................................................26
1.53 Rollover Account.....................................................................................26
1.54 Service..............................................................................................27
1.55 Total and Permanent Disability.......................................................................27
1.56 Transition Employees.................................................................................27
1.57 Trustee..............................................................................................28
1.58 Trusteed Fund........................................................................................28
1.59 Valuation Date.......................................................................................28


ARTICLE II -- ELIGIBILITY.........................................................................................28
2.1 Former General Motors Employees.........................................................................28
2.2 General Rule............................................................................................28
2.3 Reemployment............................................................................................29
2.4 Leaves of Absence - Layoff..............................................................................29


ARTICLE III - CONTRIBUTIONS.......................................................................................29
3.1 Employee Contributions..................................................................................29
(a) After-Tax Employee Contributions.....................................................................29
(b) Employee Before-Tax 401(k) Contributions.............................................................30
(1) General.............................................................................................30
(2) Elections from Profit Sharing Amount................................................................30
(3) Limitations.........................................................................................31
(4) Catch-Up Contributions..............................................................................31
(c) Changes in Elections.................................................................................31
(d) Vesting..............................................................................................32
3.2 Corporation Contributions...............................................................................32
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(a) Matching Contributions...............................................................................32
(b) Discretionary Matching Contributions.................................................................32
(c) Limitation...........................................................................................32
(d) Vesting..............................................................................................33
3.3 Rollover Contributions From Other Qualified Plans.......................................................33
(a) Rollover Contributions...............................................................................33
(1) Director Rollovers..................................................................................33
(2) Participant Rollover Contributions from Other Plans.................................................34
(4) Participant Rollover Contributions from IRAs........................................................34
(b) Vesting..............................................................................................34
(c) Withdrawals..........................................................................................35


ARTICLE IV - INVESTMENT FUNDS.....................................................................................35
4.1 Investment of Participant Contributions.................................................................35
(a) Participant Direction of Investment..................................................................35
(b) Account Transfers....................................................................................35
(c) Transfers Between Investment Options.................................................................36
4.2 Investment of Corporation Contributions.................................................................37
4.3 Investment of Income received on Participant and Corporation Contributions..............................37
4.4 American Axle Stock Fund................................................................................37
(a) Acquisition of Stock.................................................................................37
(b) Information to Fund Holders..........................................................................38
(c) Voting Rights........................................................................................38
(d) Confidentiality......................................................................................38
(e) Named Fiduciary......................................................................................38


ARTICLE V - PAYMENT OF BENEFITS...................................................................................39
5.1 Vesting.................................................................................................39
5.2 Payment of Benefits Upon Termination of Employment......................................................39
(a) Available Accounts...................................................................................39
(b) Time of Payment......................................................................................39
(c) Method of Payment....................................................................................41
(1) Method..............................................................................................41
(A) Lump Sum Option.....................................................................................41
(B) Installment Option..................................................................................41
(i) Minimum Annual Installment....................................................................42
(ii) Life Expectancy...............................................................................42
(iii) Continuing Elections..........................................................................42
(iv) Elimination of Installment Option.............................................................43
(2) Cash or Stock.......................................................................................43
(A) Mutual and Trusteed Funds...........................................................................43
(B) American Axle Stock Fund............................................................................43
(3) Direct Rollover Option:.............................................................................44
(A) Direct Rollover.....................................................................................44
(i) Distributee Other Than Participant or Spouse..................................................44
(ii) Former Spouse as Distributee..................................................................44
(iii) QDRO..........................................................................................44
(iv) Requirements of Administrator.................................................................45
(v) Failure to Elect..............................................................................45
(iv) Partial Direct Rollover.......................................................................45
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(vii) Number of Plans...............................................................................45
(viii) Distributions of Less Than $200..............................................................45
(ix) Revocation of Election........................................................................45
(x) Hardship Distribution.........................................................................46
(xi) Offset Amount.................................................................................46
(B) Information To Distributee..........................................................................46
(C) Definitions.........................................................................................46
(i) Annuity Starting Date.........................................................................46
(ii) Election Period...............................................................................46
(iii) Eligible Retirement Plan......................................................................47
(iv) Eligible Rollover Distribution................................................................47
(a) 401(a)(9) Distributions.....................................................................47
(b) Post-Tax Contributions......................................................................47
(c) 401(k)/415 Limitations.......................................................................47
(d) 401(k) and 401(m) Corrective Distributions..................................................48
(e) Loans.......................................................................................48
(v) Individual Retirement Plan....................................................................48
(vi) Qualified Plan................................................................................48
(D) Direct Rollover Option for Distributions Made After December 31, 2001...............................49
(i) Modification of Definition of Eligible Retirement Plan........................................49
(ii) Modification of Definition of Eligible Rollover Distribution to Exclude Hardship Distributions49
(iii) Modification of Definition of Eligible Rollover Distribution to Include After-Tax Employee
Contributions........................................................................................50
(d) Latest Payment Date..................................................................................50
(1) Requirements of Code Section 401(a)(14).............................................................50
(A) Normal Retirement Age...............................................................................50
(B) Tenth Anniversary...................................................................................51
(C) Termination of Employment...........................................................................51
(2) Incidental Benefit Rule.............................................................................51
(3) Retroactive Payment.................................................................................51
(4) Requirements of Code Section 401(a)(9)..............................................................51
(5) Distributions to Comply with Proposed Regulations...................................................52
(e) Distribution Upon Separation From Employment.........................................................53
5.3 Withdrawals from After-Tax Account While Actively Employed..............................................53
(a) Withdrawal...........................................................................................53
(b) Loan Limitation......................................................................................53
(c) Irrevocability.......................................................................................53
5.4 Withdrawals from 401(k) Account While Actively Employed.................................................53
(a) Withdrawals from 401(k) Account......................................................................53
(b) Hardship Withdrawals.................................................................................54
(c) Determination of Hardship............................................................................54
(d) Limitation of Future Contributions...................................................................54
(e) Withdrawals at Age 59-1/2............................................................................55
(f) Loan Limitation......................................................................................55
(g) Irrevocability.......................................................................................55
5.5 Death Benefits..........................................................................................56
(a) Designation of Beneficiaries.........................................................................56
(1) Married Participants..................................................................... ...