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General Motors Co.

wants to pay its chief executive $11.1 million in total compensation this year — an increase of more than 20 percent over 2012 — and it wants to offer raises to most of its highest-paid executives, according to a document turned over to Congress.

The Detroit automaker, which received a $49.5 billion bailout in 2008 and 2009, must get approval for the pay packages for its top 25 executives from the Treasury Department, as a condition of GM's government bailout.

According to a copy of the proposal obtained by The Detroit News from a source familiar with the documents, GM is proposing raises for 18 of its top 25 executives for 2013, with each of those making at least $1.8 million.

 


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GM Seeks A 20% Pay Raise For CEO As Treasury Takes Massive Loss On Shares

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