Company: BKR
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0001193125-25-067674
Chunk: 62

Company: Baker Hughes Co
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 62
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 Executive Change in Control Plan. “Covered transaction” generally means transaction other than a change in control that, in the determination of the Human Capital and Compensation Committee in its sole discretion, involves either (i) the formation of a joint venture to which the Company contributes assets or businesses comprising at least 30% of the Company (as measured in terms of assets, revenue, cash flow, net income and/or other parameters, in the discretion of the Committee) (a “Covered Business”) and in which the Company retains an equity interest of at least 40%, or (ii) the disposition to the Company’s shareholders of a Covered Business. Payments upon involuntary termination of employment not in connection with a change in control The Baker Hughes Company Executive Severance Plan provides that, on an involuntary termination of employment, executive officers generally receive severance pay equal to 12 months of base salary and outplacement. The Baker Hughes Company Executive Officer Short-Term Incentive Compensation Plan provides that an executive officer is eligible to receive an amount equal to the executive officer’s earned annual bonus, prorated based on the number of days that the executive officer participated in the short-term incentive plan during the calendar year. Employees are also generally provided 3 months of health insurance benefits. Mr. Simonelli is eligible for benefits under the Baker Hughes Company Executive Severance Plan plus (a) an additional six months of base salary and (b) 1.5 times the greater of the last annual bonus and the average of the last three year bonuses. Any amounts payable under the Executive Severance Plan are reduced by the amount of any severance payments payable to the executive officer under any other plan, program or individual contractual arrangement. Pursuant to the equity award agreements, awards that have been held for at least one year would receive the following treatment: a pro-rataportion of RSUs would immediately lapse, a pro-rataportion of unvested options would become immediately vested and exercisable, and a pro-rataportion of PSUs would be deemed to have satisfied the service condition and would remain eligible to vest subject to the attainment of the specified performance conditions. If the executive officer’s employment was involuntarily terminated by Baker Hughes without cause on December 31, 2024, the executive officer would have received the following:

| • |     | all outstanding RSUs that have been held for at least one year would have become vested on a pro-rata basis and become non-forfeitable; |

| • |     | all outstanding stock