Company: GE
Filing Date: 2025-03-13
Form Type: DEF 14A
Source: 0001308179-25-000114
Chunk: 45

Company: GENERAL ELECTRIC CO
Filing Date: 2025-03-13
Form: DEF 14A
Chunk 45
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 the following without Mr. Ghai’s written consent              
 (i) a reduction in his target compensation or failure to pay compensation when due, (ii)    
 any material breach by the company of the offer letter or any other agreement with Mr.      
 Ghai, or (iii) a material, adverse change in his title, authority, duties, responsibilities 
 or reporting relationships (other than temporarily while he is incapacitated or as required 
 by applicable law).                                                                         |

OFFER LETTER AGREEMENTS WITH MESSRS. MEISNER AND PHILLIPS. We entered into offer letter agreements in August 2023 with Messrs. Meisner and Phillips in connection with their respective appointments as Senior Vice President and Chief Human Resources Officer of GE Aerospace and Senior Vice President and General Counsel of GE Aerospace. They are subject to 12-month non-compete and non-solicitation covenants. Under the offer letters, in the event the named executive’s employment is terminated by the company other than for cause, by the named executive for good reason, as a result of his death or disability, or in connection with a change in control of the company that does not result in the named executive receiving a comparable offer of employment with the purchaser, the named executive is eligible for the following benefits: (i) vesting of his sign-on equity grant, (ii) vesting of his annual equity awards granted in 2024 and 2025, (iii) the lump sum cash payment provided under the U.S. Executive Severance Plan (as described and quantified above), and (iv) a pro-rata AEIP payment for the year of termination if such termination occurs after March 31 of such year. See Equity Awardson page 50 regarding the value of the equity treatment. For purposes of the severance provisions under the offer letters with Messrs. Meisner and Phillips, the terms for cause and good reason generally have the same meanings as set forth above for Mr. Ghai’s offer letter. SEPARATION AGREEMENTS WITH MESSRS. COX AND HOLSTON. Each of Mr. Cox and Mr. Holston separated without cause on April 7, 2024, following the spin-off of GE Vernova, pursuant to separation agreements. Pursuant to the separation agreements, upon signing a release of claims, each executive received the severance benefits provided under the U.S. Executive Severance Plan (as described above for an 18-month period), with the lump sum cash payment amounts set forth