EX-10.1
from 10-Q
>50
pages
Introduction the GE Energy Supplementary Pension Plan Consists of Two Parts as Set Forth Herein. Part I Describes Supplementary Pension Annuity Benefits, and Part II Describes Executive Retirement Installment Benefits. Effective January 1, 2023 in Anticipation of General Electric Company’s Split Into Three Separate Companies Comprising General Electric Company’s Aviation, Healthcare, and Energy Businesses, Respectively, the Benefits and Liabilities Under the GE Supplementary Pension Plan (Renamed the GE Aerospace Supplementary Pension Plan) Attributable to Certain Individuals Were Transferred to This Plan, as Described in Appendix A. After December 31, 2022, No Individual Whose Benefit Was Transferred to This Plan From the GE Supplementary Pension Plan (Nor Any of Their Beneficiaries) Shall Accrue Additional Benefits or Service, or Have Any Rights, Under, or With Respect To, the GE Supplementary Pension Plan (Even if Such Individual Is Subsequently Employed By, or Has Service With, the General Electric Company or the GE Affiliates), Unless the Individual’s Benefit Is Transferred Back to the GE Supplementary Pension Plan in Accordance With Appendix A. Because This Plan Is a Continuation of the GE Supplementary Pension Plan, This Document Includes the Provisions of the GE Supplementary Pension Plan That Applied Before January 1, 2023. Effective January 1, 2025, the Plan Is Amended and Restated as Set Forth Herein. Notwithstanding Any Other Provision to the Contrary, Effective January 1, 2011, Part I of the Plan Is Closed. Accordingly, an Employee Shall Be Eligible for a Supplementary Pension Annuity Benefit Only if He Participated in This Plan on or Before December 31, 2010 (And Shall Actually Receive Such Benefit Only if He Meets All the Other Applicable Requirements Therefor). for Purposes of Determining Whether an Employee Participated in the Plan on or Before December 31, 2010: (A) Any Period of Service Described In
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EX-10.17
from 10-Q
3 pages
Term: Your Employment Will Be for a Term of 12 Months. Salary: $900,000 (US Dollars) Paid Bi-Weekly Annual Executive Incentive Plan (“Aeip”): Your Aeip Target Is 100% of Your Base Salary as of December 31st Each Plan Year. Payments Are Made in the Company’s Discretion and Are Generally Based on Company and Business Financial Performance; Individual Performance; and Other Non-Financial Metrics, Such as Safety. for the Performance Year 2024, Any Bonus Earn Will Be Pro Rated Based on Your Employment Start Date. Long-Term Incentive Plan (“Ltip”): The Grant Value of Your Annual Equity Award Will Be $2,500,000 (US Dollars). Ltip Awards Are Typically Granted in March Each Year (Except 2024 Which Will Be in Q2 2024), With the Award Type and Terms Determined by the Compensation Committee of the Board of Directors. All Ltip Awards Will Be Governed by the Terms and Conditions Consistent With Awards Made to Other Similarly Situated Officers of the Company. Benefits: You Will Also Be Eligible to Participate in the Company’s Benefit Plans, Such as Health and Wellness Benefits and the Retirement Savings Plan. All Compensation Hereunder Is Subject to the Approval of the Compensation Committee of the Board of Directors, Which Is Expected to Be in April 2024. All Aspects of These and Other Benefits Will Be Governed by the Terms of the Applicable Plan or Program. Restrictive Covenants. as a Condition of Your Employment, You Agree to Sign and Abide by the Company’s Standard Non-Solicitation Agreement Which Will Be Provided to You in Connection With the On-Boarding Process. (A) Non-Solicitation of Employees You Will Not Either During Your Employment or for a Period of 12 Months After Leaving the Company's Employment Unless Approved in Advance by the Company
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