TROY, Mich. -- Delphi has reached an agreement with GM on its amended settlement and restructuring plan. Per the agreement, Delphi will receive approximately $10.6 billion in support from GM for its emergence from bankruptcy. That has been increased from the approximately $6 billion GM agreed to provide in a January 2008 settlement.

The agreement will modify the mechanics and expand the amount of Delphi's net hourly pension liability transfer to GM from $1.5 billion under the original agreement to approximately $3.4 billion.

Delphi CEO and President Rodney O'Neal said the company has achieved remarkable progress in its overall transformation.

"Despite recent challenges -- including difficult credit markets, the downturn in the U.S. auto industry, and other cost pressures -- our operating performance has improved significantly," O'Neal said. "Our team has accomplished this global transformation in the face of a complete restructuring of a significant portion of our operations."

O'Neal said Delphi is on track to complete its transformation plan by the end of this year.

For more information, visit: www.delphi.com.