Company: GE
Filing Date: 2025-02-03
Form Type: S-8
Source: 0000930413-25-000307
Chunk: 2

Company: GENERAL ELECTRIC CO
Filing Date: 2025-02-03
Form: S-8
Chunk 2
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 or proceeding or any appeal therein, if such
director or officer acted in good faith, for a purpose which he reasonably believed to be in, or not opposed to, the best interests
of the corporation and, in criminal actions or proceedings, in addition, had no reasonable cause to believe that his conduct was
unlawful.

Section 722(c) of the NYBCL
provides that a corporation may indemnify a director or officer, made or threatened to be made, a party in a derivative action,
against amounts paid in settlement and reasonable expenses, including attorneys’ fees, actually and necessarily incurred
by the director or officer in connection with the defense or settlement of such action or in connection with an appeal therein
if such director or officer acted, in good faith, for a purpose which he reasonably believed to be in, or not opposed to, the best
interests of the corporation, except that no indemnification will be available under Section 722(c) of the NYBCL in respect of
a threatened or pending action which is settled or otherwise disposed of, or any claim as to which such director or officer shall
have been adjudged liable to the corporation, unless and only to the extent that the court in which the action was brought, or,
if no action was brought, any court of competent jurisdiction, determines, upon application, that, in view of all the circumstances
of the case, the director or officer is fairly and reasonably entitled to indemnity for such portion of the settlement amount and
expenses as the court deems proper.

Section 723 of the NYBCL
specifies the manner in which payment of indemnification under Section 722 of the NYBCL or indemnification permitted under Section
721 of the NYBCL may be authorized by the corporation. It provides that indemnification may be authorized by the corporation. It
provides that indemnification by a corporation is mandatory in any case in which the director or officer has been successful, whether
on the merits or otherwise, in defending an action. In the event that the director or officer has not been successful or the action
is settled, indemnification must be authorized by the appropriate corporate action as set forth in Section 723.

Section 724 of the NYBCL
provides that, upon application by a director or officer, indemnification may be awarded by a court to the extent authorized. Section
722 and Section 723 of the NYBCL contain certain other miscellaneous provisions affecting the indemnification of directors and
off