FACTBOX: Highlights of GM's new agreement with UAW

(Reuters) - United Auto Workers officials unanimously endorsed a new cost-cutting labor agreement with General Motors Corp on Tuesday, paving the way for a quick ratification this week.

The UAW, in documents prepared for its members, said that it was required to make a series of changes to a retiree healthcare trust and other benefits in order for GM to receive additional government support.

Following are highlights of the new GM contract agreement, a copy of which was obtained by Reuters.

UAW HEALTHCARE TRUST

* The UAW-aligned healthcare trust -- the Voluntary Employees Beneficiary Association -- will receive half of the $20 billion debt GM owes the fund in the form of stock and new debt, instead of cash.

* The VEBA will receive 17.5 percent of the common stock in a restructured automaker. The remaining GM stock will be allocated between other creditors of the company and the U.S. government.

* The VEBA will also receive $6.5 billion in preferred shares that pay a 9 percent cash dividend and a new $2.5 billion note. Cash payments under the note including accrued interest will be $1.38 billion payable in 2013, 2015 and 2017.

* The UAW's VEBA will also receive warrants representing an additional 2.5 percent of GM common shares.

* Retiree medical benefits will be cut with immediate effect at the insistence of the U.S. Treasury because of GM's "difficult financial situation."