Document:

Exhibit 10(w)

Exhibit
10(w)

Amendment
to Nonqualified Deferred Compensation Plans

WHEREAS,
Section 409A of the Internal Revenue Code (the “Code”) changed the Federal
income tax rules governing “nonqualified deferred compensation plans” within the
meaning of Code section 409A(d)(1);

WHEREAS,
General Electric Company (the “Company”) intends for any such “nonqualified
deferred compensation plan” sponsored by the Company (collectively hereinafter,
the “Plans”) to continue to provide tax deferral for participants on and after
January 1, 2005 and to avoid application of any penalty or interest under Code
section 409A; 

WHEREAS,
Code section 409A(a)(2) generally requires that distributions from the Plans on
account of separation from service cannot be made to a "key employee" any
earlier than six months after such key employee separates from service (the
"Six-Month Rule"); 

WHEREAS,
the Department of the Treasury has not issued guidance explaining the
application of the Six-Month Rule, including the determination of who is a key
employee; and

WHEREAS,
in the absence of such guidance, it is advisable for the Company to amend and
administer the Plans based on a reasonable interpretation of the Six-Month
Rule;

NOW,
THEREFORE, BE IT RESOLVED THAT, the Plans be, and hereby are, amended to
incorporate the Six-Month Rule to the extent in the judgment of the Company such
rule applies to the Plans;

FURTHER
RESOLVED THAT, consistent with the foregoing resolution, the Plans shall be
administered in such manner as is reasonably necessary, in the judgment of the
Company, to comply with the Six-Month Rule; and

FURTHER
RESOLVED THAT, the foregoing resolutions shall not apply to amend the provisions
of any Plan or modify their administration to the extent they apply to employees
represented by a union, except to the extent agreed to through collective
bargaining with the union.Exhibit 10(x)

Exhibit
10(x)

 

GE
Retirement for the 

 

Good
of the Company Program

 

(Effective
January 1, 2005)

 

The
Chairman of the Board (with power to redelegate) is authorized to grant an
allowance to any employee (including officers) whose service is terminated after
November 21, 1986, subject to the terms and conditions hereinafter set forth. In
addition, the Chairman has the authority to waive the age, service and salary
requirements of the authorization to grant deferred termination
allowances.

 

	
      1.
      
	
      An
      employee may be granted an allowance if:

	
       
	 	 	 
	 	
      (a)
	
      (i)
	
      On
      the date of termination of the employee’s service, the employee is at
      least fifty years of age and has a total of at least twenty years of
      pension benefit service or similar pension service under the pension plans
      of the Company and its affiliates and subsidiaries, or if the employee is
      a company pilot, the employee is at least forty-five years of age, and has
      a total of at least fifteen years of such pension service; and
      

	
       
	 	 	 
	 	 	
      (ii)
	
      The
      employee’s salary on the January 1 of the calendar year in which service
      is terminated was no lower than the position rate in effect for the GE
      Executive Band on the January 1 of the calendar year prior to the year in
      which service is terminated;

	
       
	 	 	 
	 	
      (b)
      
	
      In
      the judgment of the employee’s manager, it is no longer appropriate to
      retain the employee in his present position, no appropriate reassignment
      of the employee elsewhere in the Company is practicable and a termination
      of the employee’s service with the Company under the terms and conditions
      of this program would be in the best interests of the
    Company;

	
       
	 	 	 
	 	
      (c)
      
	
      The
      employee elects optional retirement under the GE Pension Plan to begin on
      the first of the month following attainment of age 60; 

	
       
	 	 	 
	 	
      (d)
	
      The
      employee agrees not to withdraw his contributions plus interest credited
      thereon as permitted by the provisions of Section XI 2 of the GE Pension
      Plan; and 

	
       
	 	 	 
	 	
      (e)
	
      The
      employee agrees not to elect to accelerate the commencement of his pension
      under Section XI.4.b.(iii) of the GE Pension Plan.

	
       
	 	 	 
	
      2.
      
	
      Any
      allowance granted under this program shall be granted in the form of
      either a retirement allowance or a termination allowance. An employee
      granted a retirement allowance shall be eligible for those benefits under
      the Company’s employee benefit plans which apply to a similarly situated
      employee who retires directly from the service of the Company. An employee
      granted a termination allowance shall be eligible for those benefits under
      the Company’s employee benefit plans which apply to a similarly situated
      employee who voluntarily terminates service. 

       

      In
      any event, the annual amount of an allowance shall not exceed the sum
      of:

	
       
	 	 	 
	 	
      (a)
      
	
      The
      annual amount which would have been payable as the employee’s pension
      under the terms and conditions of the GE Pension Plan if the employee at
      the time of termination of service had attained age 60 and retired under
      the provisions of Section V of the GE Pension Plan, the future service
      annuity portion of such pension to be calculated on the basis of the
      employee’s actual compensation and contributions to the date of
      termination of service;

	
       
	 	 	 
	 	
      (b)
      
	
      An
      amount equal to the sum of (1) the supplemental payment under Section VI 3
      of the GE Pension Plan based on the employee’s pension benefit service to
      the date of termination of the employee’s service plus (2) the special
      supplemental payment under Section VI 6 of the GE Pension Plan;
      and

	
       
	 	 	 
	 	
      (c)
	
      The
      amount which would have been payable as the employee’s supplementary
      pension upon optional retirement under the terms and conditions of the GE
      Supplementary Pension Plan as if the employee at the time of termination
      of service had attained age 60 and retired, taking into account only
      pension benefit service and average annual compensation to the date of
      termination of service.

	
       
	 	 	 
	 	 	
      Consistent
      with the foregoing, in the case of an employee who is a “New Plan
      Participant” within the meaning of the GE Pension Plan on the date of his
      termination of service, no amount shall be payable under subparagraph (b)
      above, and the amounts set forth in subparagraph (a) and (c) above shall
      take into account the 25% early retirement reduction factor applicable
      under the GE Pension Plan and GE Supplementary Pension Plan for retirement
      at age 60. In the sole discretion of the Company, if such employee’s
      service consists of both work performed as such a New Plan Participant and
      work performed in some other capacity, said reduction factor (and any
      other reduction prescribed herein applicable to death and survivor
      benefits) may be modified in the manner provided by the Pension Board
      under Section XXIV.11 of the GE Pension Plan (with respect to benefits
      based on the amount set forth in subparagraph (a) above) and under Section
      XIV(e) of the GE Supplementary Pension Plan (with respect to benefits
      based on the amount set forth in subparagraph (c) above) or in such other
      manner as the Company determines.

	
       
	 	 	 
	
      3.
      
	
      The
      employee’s manager shall recommend the amount and duration of the
      allowance, whether it shall be an immediate or deferred allowance and
      whether the allowance shall be in the form of a retirement allowance or a
      termination allowance, taking into account the employee’s age, length of
      service, contributions to the Company, the likelihood of the employee
      being able to obtain other employment, and such other factors as such
      manager may consider relevant.

	
       
	 	 	 
	 	
      A
      determination to grant an allowance under this program shall be based on a
      written statement recommending the amount and the terms of the allowance
      and stating the facts and considerations upon which it is made; it shall
      be signed by the employee’s manager and shall be endorsed by such
      manager’s immediate superior and by the appropriate officer reporting
      directly to the Corporate Executive Office; provided that allowances to
      the employees who are Senior Vice Presidents or above shall be endorsed by
      the Management Development and Compensation Committee of the Board of
      Directors. The Chairman of the Board or his delegate shall act on the
      recommendation.

	
       
	 	 	 
	
      4.
      
	
      The
      allowance, which shall be paid from funds of the Company, shall be paid
      monthly. Immediate allowances may commence with the first of the month
      following the month in which the employee’s service terminates. However,
      all or a portion of a deferred allowance may be scheduled to commence the
      first of any month thereafter.

	
       
	 	 	 
	
      5.
      
	
      A
      married employee granted a retirement or termination allowance shall
      receive a reduced allowance in order to provide for a continuation of
      payments to the employee’s spouse after the employee’s death, if such
      death occurs prior to age 60, subject to the following
      conditions:

	
       
	 	 	 
	 	
      (a)
	
      That
      portion of the allowance representing the amounts described in Paragraphs
      2(a) and 2(c) shall be reduced in the same manner and payable under the
      same terms and conditions as a pension would be treated under Section IX.1
      (disregarding the calculations in the fourth paragraph therein for
      retirement as of the first day of the month following the attainment of
      age 59, or as of an earlier date) and IX.2 of the GE Pension Plan;
      provided, however, that:

	
       
	 	 	 
	 	 	
      (i)
	
      payment
      to the surviving spouse shall be equal to one half of the reduced
      allowance which would have been payable to the employee had the employee
      survived, including any increase in such allowance which was scheduled to
      take effect at the employee’s age 60;

	
       
	 	 	 
	 	 	
      (ii)
      
	
      if
      death occurs prior to age 60, payments of such allowance to the employee’s
      surviving spouse shall be further reduced by the amount available in the
      form of a monthly annuity as a preretirement spouse annuity payable under
      the GE Pension Plan with such reduction occurring beginning on the
      earliest date such annuity is so payable; 

	
       
	 	 	 
	 	 	
      (iii)
	
      upon
      the death of the employee, the portion of the allowance representing the
      amount described in Paragraph 2(b) shall be discontinued at the end of the
      month in which such death occurs;

	
       
	 	 	 
	 	 	
      (iv)
      
	
      in
      no event shall any further payments of allowance be made to any persons
      after the death of both the employee and the person who is his spouse for
      purposes of the survivor benefit; and

	
       
	 	 	 
	 	 	
      (v)
      
	
      no
      waiver of the survivor benefit provided under this paragraph 5 shall have
      been received by the Company.

	
       
	 	 	 
	 	
      (b)
	
      Upon
      receipt by the Company of an employee’s waiver with spouse’s consent of
      the survivor benefit under this Paragraph 5, the allowance shall be
      adjusted from and after the date of such waiver to the amount he would
      have received on or after that date had there been no survivor
      benefit.

       

	
       
	 	 	 
	 	
      The
      spouse of a married employee shall not be eligible for any allowance
      payments after the employee’s death if such death occurs after attainment
      of age 60 except as and to the extent provided in
      Paragraph 6.

	
       
	 	 	 
	
      6.
      
	
      Any
      allowance granted pursuant to this program shall be paid in accordance
      with the terms set forth in the written statement referred to in Paragraph
      3. However, any such allowance:

	
       
	 	 	 
	 	
      (a)
	
      may
      be terminated at any time by the Management Development and Compensation
      Committee if the Committee in its sole discretion determines that the
      employee or, after the death of the employee, the employee’s surviving
      spouse, has acted or is acting in any way inimical to the interests of the
      Company;

	
       
	 	 	 
	 	
      (b)
      
	
      shall
      terminate at the end of the month in which the employee withdraws his
      contributions to the GE Pension Plan plus interest credited thereon or
      elects to accelerate the commencement of his pension under Section
      Xl.4.b.(iii) of the GE Pension Plan;

	
       
	 	 	 
	 	
      (c)
      
	
      shall
      terminate at the end of the month in which the employee’s death occurs, if
      prior to age 60; unless a survivor benefit is payable in accordance with
      Paragraph 5;

	
       
	 	 	 
	 	
      (d)
      
	
      shall
      terminate at the end of the month in which the employee attains age 60,
      except that:

	
       
	 	 	 
	 	 	
      (i)
      
	
      the
      portion of the allowance representing the amount described in Paragraph
      2(b) may be paid until the employee attains the Age of Eligibility for
      Social Security Benefits (currently age 62) or, if Section VI.8. of the GE
      Pension Plan is in effect, his Age of Eligibility for 80% Social Security
      Benefits within the meaning of such provision, or until the employee dies,
      whichever first occurs; and 

	
       
	 	 	 
	 	 	
      (ii)
      
	
      the
      portion of the allowance representing the amount of the employee’s
      supplementary pension described in Paragraph 2(c) may be paid through the
      month in which the employee dies; provided that (1) if a survivor benefit
      applies to the employee’s pension under the GE Pension Plan, this portion
      of the allowance shall be adjusted and paid on the same basis as Section
      VI of the Supplementary Pension Plan, and (2) if a death benefit is
      payable to the beneficiary or surviving spouse of such employee under the
      GE Pension Plan, a death benefit shall also be payable to such beneficiary
      or surviving spouse with respect to the portion of the employee’s
      allowance representing the amount described in Paragraph 2(c) hereof, such
      benefit to be computed and paid in the same manner as the death benefit
      referred to in Section VII of the GE Supplementary Pension Plan;
      and

	
       
	 	 	 
	 	
      (e)
      
	
      Notwithstanding
      the foregoing, if a former employee entitled to a deferred allowance dies
      on or after November 1, 1998 and before such allowance commences and a
      preretirement survivor annuity is payable to the Surviving Spouse of the
      employee under the GE Pension Plan, a preretirement survivor annuity may
      also be payable to such Spouse with respect to the portion of the deferred
      allowance representing the amount of the employee’s supplementary pension
      described in Paragraph 2(c). Any such preretirement survivor annuity
      provided under this Program shall be computed and paid in the same manner
      as such death benefit is payable under the GE Pension Plan but shall be
      based only on the portion of the deferred allowance representing the
      amount of the employee’s supplementary pension described in Paragraph
      2(c).

	
       
	 	 	 
	
      7.
      
	
      Notwithstanding
      those provisions of Paragraphs 5 and 6 above concerning the form in which
      an allowance will be distributed (including applicable survivor or death
      benefits), if the allowance is granted in conjunction with the payment of
      the Special Early Retirement Option or Plant Closing Pension Option under
      the GE Pension Plan, such allowance will be distributed for so long as it
      remains payable in the same form as the pension is paid under the GE
      Pension Plan and subject to at least the same reduction calculation to
      reflect any applicable survivor benefits.

	
       
	 	 	 
	
      8.
	
      Any
      allowance payable under this program shall terminate at the end of the
      month in which the employee is reemployed by General Electric Company or
      any of its affiliates or subsidiaries.

	
       
	 	 	 
	
      9.
      
	
      For
      purposes of this program, the terms “spouse” and “surviving spouse” shall
      have the same meanings as under Section XXVI of the GE Pension
      Plan.

	
       
	 	 	 
	
      10.
      
	
      Except
      as to withholding of any tax under the laws of the United States or any
      state or locality, no benefit payable at any time hereunder shall be
      subject in any manner to alienation, sale, transfer, assignment, pledge,
      attachment or other legal process, or encumbrance of any kind. Any attempt
      to alienate, sell, transfer, assign, pledge or otherwise encumber any such
      benefit, whether currently or thereafter payable hereunder, shall be
      void.

	
       
	 	 	 
	
      11.
      
	
      Any
      or all allowances granted under this program may be reduced, suspended, or
      terminated by the Board of Directors in its
discretion.

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