Document:

Exhibit
4.6

 

THIS SECURITY
HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS
OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED,
TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND
ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, NOT TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY,
[IN THE CASE OF RULE 144A NOTES: PRIOR TO THE DATE THAT IS ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF, THE ORIGINAL
ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL SECURITY OF THIS SERIES AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF
THE ISSUER WAS THE OWNER OF THE SECURITY (OR ANY PREDECESSOR OF THE SECURITY),] [IN THE CASE OF REGULATION S NOTES: PRIOR TO THE
DATE THAT IS 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE DATE ON WHICH THIS SECURITY (OR ANY PREDECESSOR
OF SUCH SECURITY) WAS FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN RULE 902 OF REGULATION S) IN RELIANCE ON
REGULATION S,] OTHER THAN (A) TO THE ISSUER, THE GUARANTOR OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION STATEMENT
THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO
RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED
IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER
AND TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-US
PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT) THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION
S UNDER THE SECURITIES ACT OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES
(D) OR (E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM.

 

[IN THE
CASE OF REGULATION S NOTES: BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT PURCHASING
FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON, OTHER THAN A DISTRIBUTOR, AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION
IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT.]

    	 

    	

    

Unless
this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”),
to the Company or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the
name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made
to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede &
Co., has an interest herein.

 

THIS SECURITY
IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY
OR A NOMINEE OF A DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY
OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE
DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY.

 

GE CAPITAL
FUNDING, LLC

 

3.450%
Note due 2025

 

	No. [   ]	$[      ]

 

CUSIP
No. 36166N AA1

 

GE Capital
Funding, LLC, a Delaware limited liability company (herein called the “Company,” which term includes any successor
Person under the Indenture hereinafter referred to), and an indirect, wholly-owned subsidiary of General Electric Company, a corporation
duly organized and existing under the laws of the State of New York (the “Guarantor”), for value received, hereby promises
to pay to CEDE & CO., or registered assigns, the principal sum of [          ] DOLLARS ($[          ]) on May 15, 2025, and
to pay interest thereon from May 18, 2020 or from the most recent Interest Payment Date to which interest has been paid or duly
provided for, semiannually on May 15 and November 15 in each year, commencing November 15, 2020, at the rate of 3.450% per annum,
until the principal hereof is paid or made available for payment. The amount of interest payable for any period shall be computed
on the basis of twelve 30-day months and a 360-day year. In the event that any date on which interest is payable on this Security
is not a Business Day, then a payment of the interest payable on such date will be made on the next succeeding day which is a Business
Day (and without any interest or other payment in respect of any such delay) with the same force and effect as if made on the date
the payment was originally payable. A “Business Day” shall mean, when used with respect to any Place of Payment, each
Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in that Place of Payment are authorized
or obligated by law or regulation to close. The interest so payable, and punctually paid or duly provided for, on any Interest
Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record

    	 

    	

    

Date for such interest, which
shall be May 1 or November 1 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date,
provided that interest payable at the Maturity of the principal hereof or on a Redemption Date shall be payable to the Person to
whom the principal of this Security is paid. Any such interest not so punctually paid or duly provided for shall forthwith cease
to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one
or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted
Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days
prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of
any securities exchange or automated quotation system on which the Securities of this series may be listed or traded, and upon
such notice as may be required by such exchange or automated quotation system, all as more fully provided in said Indenture.

 

Payment
of the principal of (and premium, if any) and interest on this Security will be made at the office or agency of the Paying Agent
maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of
America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at the option
of the Company payment of interest may be made (i) by check mailed to the address of the Person entitled thereto as such address
shall appear in the Security Register or (ii) by wire transfer in immediately available funds at such place and to such account
as may be designated in writing by the Person entitled thereto as specified in the Security Register at least fifteen days prior
to the relevant Interest Payment Date.

 

Reference
is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place.

 

Unless
the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual, facsimile
or electronic signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any
purpose.

    	 

    	

    

IN WITNESS
WHEREOF, the Company has caused this instrument to be duly executed.

 

Dated: May 18, 2020

 

	 	GE CAPITAL FUNDING, LLC
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	 

    	

    

REVERSE
OF SECURITY

 

This Security
is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued
in one or more series under an Indenture, dated as of May 18, 2020 (herein called the “Indenture,” which term shall
have the meaning assigned to it in such instrument), between the Company, the Guarantor and The Bank of New York Mellon, as Trustee
(herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and
all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties
and immunities thereunder of the Company, the Guarantor, the Trustee and the Holders of the Securities and of the terms upon which
the Securities are, and are to be, authenticated and delivered. Capitalized terms used but not defined herein shall have the meanings
assigned to them in the Indenture. This Security is one of the series designated on the face hereof, limited in aggregate principal
amount to $1,350,000,000; provided, however, that the authorized aggregate principal amount of the Securities of this series may
be increased above such amount by a Board Resolution to such effect; and provided further, that additional Securities of this series
may not be issued under the same CUSIP number unless such additional Securities and the original Securities of this series are
fungible for U.S. federal income tax purposes; and provided further, that additional Securities of this series will rank equally
and ratably with this series in all respects, or in all respects except for the payment of interest accruing prior to the issue
date or except for the first payment of interest following the issue date of those additional Securities.

 

The Securities
of this series are subject to redemption on at least 10 days’, but not more than 60 days’, notice by mail, at any time
and from time to time prior to the Par Call Date, as a whole or in part, at the election of the Company, at a redemption price
equal to the greater of (1) 100% of the principal amount of the Securities of this series to be redeemed; and (2) the sum of the
present values of the Remaining Scheduled Payments (as defined below) on the Securities of this series to be redeemed (exclusive
of interest accrued and unpaid to, but not including, the Redemption Date) discounted to the Redemption Date on a semiannual basis,
assuming a 360-day year consisting of twelve 30-day months, at the Treasury Rate (as defined below) plus 50 basis points; plus,
in either case, accrued and unpaid interest to, if any, but excluding, the Redemption Date.

 

The Securities
of this series are subject to redemption on at least 10 days’, but not more than 60 days’, notice by mail, at any time
and from time to time after the Par Call Date, as a whole or in part, at the election of the Company at a redemption price equal
to 100% of the principal amount of such Securities to be redeemed, plus accrued and unpaid interest, if any, to, but excluding,
the Redemption Date.

 

With respect
to the foregoing, “Comparable Treasury Issue” means the United States Treasury security selected by an Independent
Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Securities of this series
to be redeemed (assuming that such Securities matured on the applicable Par Call Date) that would be utilized, at the time of selection
and in accordance with customary financial practice, in pricing new issues of corporate debt securities of a comparable maturity
to the remaining term of such Securities (assuming that such Securities matured on the applicable Par Call Date). “Comparable

    	 

    	

    

Treasury Price” means,
with respect to any Redemption Date, (A) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after
excluding the highest and lowest such Reference Treasury Dealer Quotations, or (B) if the Independent Investment Banker obtains
fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations. “Independent Investment Banker”
means one of the Reference Treasury Dealers appointed by the Company. “Par Call Date” means April 15, 2025. “Reference
Treasury Dealer” means each of BofA Securities, Inc., Citigroup Global Markets Inc., an affiliate of Credit Suisse Securities
(USA) LLC, Goldman Sachs & Co. LLC, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Mizuho Securities USA LLC
and a Primary Treasury Dealer (as defined below) selected by SMBC Nikko Securities America, Inc., which are primary U.S. Government
securities dealers in The City of New York (a “Primary Treasury Dealer”), and their respective successors plus three
other Primary Treasury Dealers selected by the Company; provided, however, that if any of the foregoing or their affiliates ceases
to be a Primary Treasury Dealer, the Company shall substitute therefor another Primary Treasury Dealer. “Reference Treasury
Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined
by the Independent Investment Banker, of the bid and asked prices for the applicable Comparable Treasury Issue (expressed in each
case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker by the Reference Treasury
Dealers at 3:30 p.m. New York time on the third Business Day preceding such Redemption Date. “Remaining Scheduled Payments”
means, with respect to each Security of this series to be redeemed, the remaining scheduled payments of the principal thereof and
interest thereon that would be due after the related Redemption Date but for such redemption if such Securities matured on the
Par Call Date; provided, however, that, if such Redemption Date is not an Interest Payment Date with respect to such Securities,
the amount of the next succeeding scheduled interest payment thereon will be deemed to be reduced (solely for the purposes of this
calculation) by the amount of interest accrued thereon to such Redemption Date. “Treasury Rate” means, with respect
to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to maturity or interpolated yield to maturity,
computed as of the third Business Day preceding such Redemption Date, of the applicable Comparable Treasury Issue, assuming a price
for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury
Price for such Redemption Date.

 

In the
event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for the unredeemed
portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.

 

The Indenture
contains provisions for satisfaction and discharge of the entire indebtedness of this Security upon compliance by the Company with
certain conditions set forth in the Indenture.

 

The Indenture
contains provisions for defeasance at any time of the entire indebtedness of this Security or certain covenants and Events of Default
with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture.

 

If an
Event of Default with respect to the Securities of this series shall occur and be continuing, the principal of the Securities of
this series may be declared due and payable in the manner and with the effect provided in the Indenture.

    	 

    	

    

The Indenture
permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the Guarantor, and the rights of the Holders of the Securities of all series to be affected under the Indenture
at any time by the Company, the Guarantor and the Trustee with the consent of the Holders of a majority in principal amount of
the Securities at the time Outstanding of all series to be affected, treated as one class. The Indenture also contains provisions
permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on
behalf of the Holders of all Securities of such series, to waive compliance by the Company or the Guarantor with certain provisions
of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder
of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security
issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent
or waiver is made upon this Security.

 

As provided
in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding
with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder
shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this
series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have
made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee
reasonable indemnity, the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this
series at the time Outstanding a direction inconsistent with such request, and the Trustee shall have failed to institute any such
proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit
instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon
on or after the respective due dates expressed or provided for herein.

 

No reference
herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place
and rate, and in the coin or currency, herein prescribed.

 

As provided
in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Security
Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where
the principal of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument
of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney
duly authorized in writing, and thereupon one or more new Securities of this series and of like tenor, of authorized denominations
and for the same aggregate principal amount, will be issued to the designated transferee or transferees. No service charge shall
be made for any such registration of transfer or exchange, but the Company and the Security Registrar may require payment of a
sum sufficient to cover any tax or other governmental charge payable in connection therewith.

    	 

    	

    

Prior
to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this
Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 

The Securities
of this series are issuable only in fully registered, book-entry form without coupons in denominations of $200,000 and any integral
multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities
of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a different
authorized denomination, as requested by the Holder surrendering the same.

 

All terms
used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

THE INDENTURE
AND THIS SECURITY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS
OF LAWS PRINCIPLES THEREOF.

    	 

    	

    

This is
one of the Securities of the series designated therein referred to in the within mentioned Indenture.

 

	Date:  May 18, 2020	The Bank of New York Mellon,	 
	 	As Trustee	 
	 	 	 
	 	By:	 	 
	 	 	Authorized Signatory	 

    	 

    	

    

GUARANTEE

 

For value received, the Guarantor hereby
fully, irrevocably and unconditionally guarantees for the benefit of each Holder the due and punctual payment of all of the obligations
of Company under the Indenture and the Securities, whether for the payment of principal, of premium, if any, or interest, together
with any Additional Interest, if any on the Securities or otherwise, when and as the same shall become due and payable, whether
at maturity, upon redemption or otherwise. This Guarantee will not become effective until the Trustee or authenticating agent duly
executes the certificate of authentication on this Security.

 

The Guarantor hereby agrees that its obligations
hereunder shall be irrevocable and unconditional, irrespective of the validity, legality or enforceability of any Security to which
this Guarantee applies, the absence of any action to enforce such Security, the recovery of any judgment against the Company or
any action to enforce the same or any insolvency, bankruptcy, reorganization or similar proceeding of or with respect to the Company
or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. The Guarantor
hereby expressly waives, to the fullest extent permitted by applicable law, all rights of setoff, recoupment and counterclaim (provided
that nothing herein shall prevent the assertions of such claims by separate suit or compulsory counterclaim), the benefit of any
statute of limitations affecting the Guarantor’s liability hereunder, diligence, presentment, demand of payment, filing of claims
with a court in the event of merger or insolvency, bankruptcy, reorganization or similar proceeding of or with respect to the Company,
any right to require a proceeding first against the Company, protest or notice with respect to said Security or the indebtedness
evidenced thereby and all demands whatsoever and covenants that this Guarantee will not be discharged except by complete performance
of the obligations contained in this Guarantee. The Guarantor hereby further expressly waives all other defenses or benefits with
respect to this Guarantee that may be afforded by applicable law limiting the liability of or exonerating guarantors as sureties.

 

An Event of Default under, non-payment of
or acceleration of any series of the Securities shall entitle the Holders thereof to exercise their rights and remedies against
the Guarantor under its Guarantee in the same manner and to the same extent as they have the right to do so against the Company
under the terms of the Indenture when and as originally executed (as amended pursuant to the terms of the Indenture). If any principal,
interest or other amounts on any Security is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy,
reorganization or similar proceeding of or with respect to the Company, whether as a “voidable preference,” “fraudulent
transfer” or otherwise, the Guarantor’s obligations under its Guarantee with respect to such payment will be reinstated
as though such payment has been due but not made at such time.

 

Until the Holder of said Security has received,
from the Company or out of its assets, or from the Guarantor or out of its assets, moneys which such Holder is entitled to retain
for its own account, equal in the aggregate to the unpaid principal amount of (including premium, if any, on) said Security plus
all accrued and unpaid interest thereon and any additional amounts with respect to each Security, the Guarantor will remain liable
on its Guarantee.

    	 

    	

    

The Guarantor shall be subrogated to all
rights of the Holder of the Security to which its Guarantee applies against the Company in respect of any amounts paid by such
Guarantor pursuant to the provisions of such Guarantee; provided that the Guarantor shall not be entitled to enforce or receive
any payment arising out of, or based upon, such right of subrogation until all amounts due on or to become due on or in respect
of all the Securities to which the Guarantees relate shall have been paid in full or duly provided for.

 

Each Guarantee constitutes a guarantee of
payment and not collection and is unsecured and ranks equally and ratably with all other unsecured obligations of the Guarantor.

 

THIS GUARANTEE SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THEREOF.

    	 

    	

    

Dated: May 18, 2020

 

GENERAL ELECTRIC COMPANY

 

	By:	 
	 	Name:
	 	Title:

    	 

    	

    

THIS SECURITY
HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS
OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED,
TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND
ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, NOT TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY,
[IN THE CASE OF RULE 144A NOTES: PRIOR TO THE DATE THAT IS ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF, THE ORIGINAL
ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL SECURITY OF THIS SERIES AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF
THE ISSUER WAS THE OWNER OF THE SECURITY (OR ANY PREDECESSOR OF THE SECURITY),] [IN THE CASE OF REGULATION S NOTES: PRIOR TO THE
DATE THAT IS 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE DATE ON WHICH THIS SECURITY (OR ANY PREDECESSOR
OF SUCH SECURITY) WAS FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN RULE 902 OF REGULATION S) IN RELIANCE ON
REGULATION S,] OTHER THAN (A) TO THE ISSUER, THE GUARANTOR OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION STATEMENT
THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO
RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED
IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER
AND TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-US
PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT) THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION
S UNDER THE SECURITIES ACT OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES
(D) OR (E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM.

 

[IN THE
CASE OF REGULATION S NOTES: BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT PURCHASING
FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON, OTHER THAN A DISTRIBUTOR, AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION
IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT.]

 

Unless
this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”),
to the Company or its agent for registration

    	 

    	

    

of transfer, exchange, or
payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an
authorized representative of DTC), ANY TRANSFER PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
inasmuch as the registered owner hereof, Cede & Co., has an interest herein.

 

THIS SECURITY
IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY
OR A NOMINEE OF A DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY
OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE
DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY.

 

GE CAPITAL
FUNDING, LLC

 

4.050%
Note due 2027

 

	No. [   ]	$[          ]

 

CUSIP
No. 36166N AD5

 

GE Capital
Funding, LLC, a Delaware limited liability company (herein called the “Company,” which term includes any successor
Person under the Indenture hereinafter referred to), and an indirect, wholly-owned subsidiary of General Electric Company, a corporation
duly organized and existing under the laws of the State of New York (the “Guarantor”), for value received, hereby promises
to pay to CEDE & CO., or registered assigns, the principal sum of [      ] DOLLARS ($[      ])
on May 15, 2027, and to pay interest thereon from May 18, 2020 or from the most recent Interest Payment Date to which interest
has been paid or duly provided for, semiannually on May 15 and November 15 in each year, commencing November 15, 2020, at the rate
of 4.050% per annum, until the principal hereof is paid or made available for payment. The amount of interest payable for any period
shall be computed on the basis of twelve 30-day months and a 360-day year. In the event that any date on which interest is payable
on this Security is not a Business Day, then a payment of the interest payable on such date will be made on the next succeeding
day which is a Business Day (and without any interest or other payment in respect of any such delay) with the same force and effect
as if made on the date the payment was originally payable. A “Business Day” shall mean, when used with respect to any
Place of Payment, each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in that
Place of Payment are authorized or obligated by law or regulation to close. The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security
(or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which
shall be May 1 or November 1 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date,
provided that interest 

    	 

    	

    

payable at the Maturity of
the principal hereof or on a Redemption Date shall be payable to the Person to whom the principal of this Security is paid. Any
such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record
Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at
the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof
shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any
time in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system
on which the Securities of this series may be listed or traded, and upon such notice as may be required by such exchange or automated
quotation system, all as more fully provided in said Indenture.

 

Payment
of the principal of (and premium, if any) and interest on this Security will be made at the office or agency of the Paying Agent
maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of
America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at the option
of the Company payment of interest may be made (i) by check mailed to the address of the Person entitled thereto as such address
shall appear in the Security Register or (ii) by wire transfer in immediately available funds at such place and to such account
as may be designated in writing by the Person entitled thereto as specified in the Security Register at least fifteen days prior
to the relevant Interest Payment Date.

 

Reference
is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place.

 

Unless
the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual, facsimile
or electronic signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any
purpose.

    	 

    	

    

IN WITNESS
WHEREOF, the Company has caused this instrument to be duly executed.

 

	Dated: May 18, 2020	 	 
	 	 	 
	 	GE CAPITAL FUNDING, LLC	 
	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

 

    	 

    	

    

REVERSE
OF SECURITY

 

This Security
is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued
in one or more series under an Indenture, dated as of May 18, 2020 (herein called the “Indenture,” which term shall
have the meaning assigned to it in such instrument), between the Company, the Guarantor and The Bank of New York Mellon, as Trustee
(herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and
all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties
and immunities thereunder of the Company, the Guarantor, the Trustee and the Holders of the Securities and of the terms upon which
the Securities are, and are to be, authenticated and delivered. Capitalized terms used but not defined herein shall have the meanings
assigned to them in the Indenture. This Security is one of the series designated on the face hereof, limited in aggregate principal
amount to $1,000,000,000; provided, however, that the authorized aggregate principal amount of the Securities of this series may
be increased above such amount by a Board Resolution to such effect; and provided further, that additional Securities of this series
may not be issued under the same CUSIP number unless such additional Securities and the original Securities of this series are
fungible for U.S. federal income tax purposes; and provided further, that additional Securities of this series will rank equally
and ratably with this series in all respects, or in all respects except for the payment of interest accruing prior to the issue
date or except for the first payment of interest following the issue date of those additional Securities.

 

The Securities
of this series are subject to redemption on at least 10 days’, but not more than 60 days’, notice by mail, at any time
and from time to time prior to the Par Call Date, as a whole or in part, at the election of the Company, at a redemption price
equal to the greater of (1) 100% of the principal amount of the Securities of this series to be redeemed; and (2) the sum of the
present values of the Remaining Scheduled Payments (as defined below) on the Securities of this series to be redeemed (exclusive
of interest accrued and unpaid to, but not including, the Redemption Date) discounted to the Redemption Date on a semiannual basis,
assuming a 360-day year consisting of twelve 30-day months, at the Treasury Rate (as defined below) plus 50 basis points; plus,
in either case, accrued and unpaid interest to, if any, but excluding, the Redemption Date.

 

The Securities
of this series are subject to redemption on at least 10 days’, but not more than 60 days’, notice by mail, at any time
and from time to time after the Par Call Date, as a whole or in part, at the election of the Company at a redemption price equal
to 100% of the principal amount of such Securities to be redeemed, plus accrued and unpaid interest, if any, to, but excluding,
the Redemption Date.

 

With respect
to the foregoing, “Comparable Treasury Issue” means the United States Treasury security selected by an Independent
Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Securities of this series
to be redeemed (assuming that such Securities matured on the applicable Par Call Date) that would be utilized, at the time of selection
and in accordance with customary financial practice, in pricing new issues of corporate debt securities of a comparable maturity
to the remaining term of such Securities (assuming that such Securities matured on the applicable Par Call Date). “Comparable

    	 

    	

    

Treasury Price” means,
with respect to any Redemption Date, (A) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after
excluding the highest and lowest such Reference Treasury Dealer Quotations, or (B) if the Independent Investment Banker obtains
fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations. “Independent Investment Banker”
means one of the Reference Treasury Dealers appointed by the Company. “Par Call Date” means March 15, 2027. “Reference
Treasury Dealer” means each of BofA Securities, Inc., Citigroup Global Markets Inc., an affiliate of Credit Suisse Securities
(USA) LLC, Goldman Sachs & Co. LLC, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Mizuho Securities USA LLC
and a Primary Treasury Dealer (as defined below) selected by SMBC Nikko Securities America, Inc., which are primary U.S. Government
securities dealers in The City of New York (a “Primary Treasury Dealer”), and their respective successors plus three
other Primary Treasury Dealers selected by the Company; provided, however, that if any of the foregoing or their affiliates ceases
to be a Primary Treasury Dealer, the Company shall substitute therefor another Primary Treasury Dealer. “Reference Treasury
Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined
by the Independent Investment Banker, of the bid and asked prices for the applicable Comparable Treasury Issue (expressed in each
case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker by the Reference Treasury
Dealers at 3:30 p.m. New York time on the third Business Day preceding such Redemption Date. “Remaining Scheduled Payments”
means, with respect to each Security of this series to be redeemed, the remaining scheduled payments of the principal thereof and
interest thereon that would be due after the related Redemption Date but for such redemption if such Securities matured on the
Par Call Date; provided, however, that, if such Redemption Date is not an Interest Payment Date with respect to such Securities,
the amount of the next succeeding scheduled interest payment thereon will be deemed to be reduced (solely for the purposes of this
calculation) by the amount of interest accrued thereon to such Redemption Date. “Treasury Rate” means, with respect
to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to maturity or interpolated yield to maturity,
computed as of the third Business Day preceding such Redemption Date, of the applicable Comparable Treasury Issue, assuming a price
for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury
Price for such Redemption Date.

 

In the
event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for the unredeemed
portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.

 

The Indenture
contains provisions for satisfaction and discharge of the entire indebtedness of this Security upon compliance by the Company with
certain conditions set forth in the Indenture.

 

The Indenture
contains provisions for defeasance at any time of the entire indebtedness of this Security or certain covenants and Events of Default
with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture.

 

If an
Event of Default with respect to the Securities of this series shall occur and be continuing, the principal of the Securities of
this series may be declared due and payable in the manner and with the effect provided in the Indenture.

    	 

    	

    

The Indenture
permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the Guarantor, and the rights of the Holders of the Securities of all series to be affected under the Indenture
at any time by the Company, the Guarantor and the Trustee with the consent of the Holders of a majority in principal amount of
the Securities at the time Outstanding of all series to be affected, treated as one class. The Indenture also contains provisions
permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on
behalf of the Holders of all Securities of such series, to waive compliance by the Company or the Guarantor with certain provisions
of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder
of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security
issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent
or waiver is made upon this Security.

 

As provided
in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding
with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder
shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this
series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have
made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee
reasonable indemnity, the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this
series at the time Outstanding a direction inconsistent with such request, and the Trustee shall have failed to institute any such
proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit
instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon
on or after the respective due dates expressed or provided for herein.

 

No reference
herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place
and rate, and in the coin or currency, herein prescribed.

 

As provided
in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Security
Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where
the principal of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument
of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney
duly authorized in writing, and thereupon one or more new Securities of this series and of like tenor, of authorized denominations
and for the same aggregate principal amount, will be issued to the designated transferee or transferees. No service charge shall
be made for any such registration of transfer or exchange, but the Company and the Security Registrar may require payment of a
sum sufficient to cover any tax or other governmental charge payable in connection therewith.

    	 

    	

    

Prior
to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this
Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 

The Securities
of this series are issuable only in fully registered, book-entry form without coupons in denominations of $200,000 and any integral
multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities
of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a different
authorized denomination, as requested by the Holder surrendering the same.

 

All terms
used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

THE INDENTURE
AND THIS SECURITY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS
OF LAWS PRINCIPLES THEREOF.

    	 

    	

    

This is
one of the Securities of the series designated therein referred to in the within mentioned Indenture.

 

	Date:  May 18, 2020	The Bank of New York Mellon,

As Trustee	 
	 	 	 
	 	By:	 	 
	 	 	Authorized Signatory	 

    	 

    	

    

GUARANTEE

 

For value received, the Guarantor hereby
fully, irrevocably and unconditionally guarantees for the benefit of each Holder the due and punctual payment of all of the obligations
of Company under the Indenture and the Securities, whether for the payment of principal, of premium, if any, or interest, together
with any Additional Interest, if any on the Securities or otherwise, when and as the same shall become due and payable, whether
at maturity, upon redemption or otherwise. This Guarantee will not become effective until the Trustee or authenticating agent duly
executes the certificate of authentication on this Security.

 

The Guarantor hereby agrees that its obligations
hereunder shall be irrevocable and unconditional, irrespective of the validity, legality or enforceability of any Security to which
this Guarantee applies, the absence of any action to enforce such Security, the recovery of any judgment against the Company or
any action to enforce the same or any insolvency, bankruptcy, reorganization or similar proceeding of or with respect to the Company
or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. The Guarantor
hereby expressly waives, to the fullest extent permitted by applicable law, all rights of setoff, recoupment and counterclaim (provided
that nothing herein shall prevent the assertions of such claims by separate suit or compulsory counterclaim), the benefit of any
statute of limitations affecting the Guarantor’s liability hereunder, diligence, presentment, demand of payment, filing of claims
with a court in the event of merger or insolvency, bankruptcy, reorganization or similar proceeding of or with respect to the Company,
any right to require a proceeding first against the Company, protest or notice with respect to said Security or the indebtedness
evidenced thereby and all demands whatsoever and covenants that this Guarantee will not be discharged except by complete performance
of the obligations contained in this Guarantee. The Guarantor hereby further expressly waives all other defenses or benefits with
respect to this Guarantee that may be afforded by applicable law limiting the liability of or exonerating guarantors as sureties.

 

An Event of Default under, non-payment of
or acceleration of any series of the Securities shall entitle the Holders thereof to exercise their rights and remedies against
the Guarantor under its Guarantee in the same manner and to the same extent as they have the right to do so against the Company
under the terms of the Indenture when and as originally executed (as amended pursuant to the terms of the Indenture). If any principal,
interest or other amounts on any Security is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy,
reorganization or similar proceeding of or with respect to the Company, whether as a “voidable preference,” “fraudulent
transfer” or otherwise, the Guarantor’s obligations under its Guarantee with respect to such payment will be reinstated
as though such payment has been due but not made at such time.

 

Until the Holder of said Security has received,
from the Company or out of its assets, or from the Guarantor or out of its assets, moneys which such Holder is entitled to retain
for its own account, equal in the aggregate to the unpaid principal amount of (including premium, if any, on) said Security plus
all accrued and unpaid interest thereon and any additional amounts with respect to each Security, the Guarantor will remain liable
on its Guarantee.

    	 

    	

    

The Guarantor shall be subrogated to all
rights of the Holder of the Security to which its Guarantee applies against the Company in respect of any amounts paid by such
Guarantor pursuant to the provisions of such Guarantee; provided that the Guarantor shall not be entitled to enforce or receive
any payment arising out of, or based upon, such right of subrogation until all amounts due on or to become due on or in respect
of all the Securities to which the Guarantees relate shall have been paid in full or duly provided for.

 

Each Guarantee constitutes a guarantee of
payment and not collection and is unsecured and ranks equally and ratably with all other unsecured obligations of the Guarantor.

 

THIS GUARANTEE SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THEREOF.

    	 

    	

    

Dated: May 18, 2020

 

GENERAL ELECTRIC COMPANY

 

	By:	 
	 	Name:
	 	Title:

    	 

    	

    

THIS SECURITY
HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS
OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED,
TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND
ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, NOT TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY,
[IN THE CASE OF RULE 144A NOTES: PRIOR TO THE DATE THAT IS ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF, THE ORIGINAL
ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL SECURITY OF THIS SERIES AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF
THE ISSUER WAS THE OWNER OF THE SECURITY (OR ANY PREDECESSOR OF THE SECURITY),] [IN THE CASE OF REGULATION S NOTES: PRIOR TO THE
DATE THAT IS 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE DATE ON WHICH THIS SECURITY (OR ANY PREDECESSOR
OF SUCH SECURITY) WAS FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN RULE 902 OF REGULATION S) IN RELIANCE ON
REGULATION S,] OTHER THAN (A) TO THE ISSUER, THE GUARANTOR OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION STATEMENT
THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO
RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED
IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER
AND TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-US
PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT) THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION
S UNDER THE SECURITIES ACT OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES
(D) OR (E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM.

 

[IN THE
CASE OF REGULATION S NOTES: BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT PURCHASING
FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON, OTHER THAN A DISTRIBUTOR, AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION
IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT.]

 

Unless
this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”),
to the Company or its agent for registration

    	 

    	

    

of transfer, exchange, or
payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an
authorized representative of DTC), ANY TRANSFER PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
inasmuch as the registered owner hereof, Cede & Co., has an interest herein.

 

THIS SECURITY
IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY
OR A NOMINEE OF A DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY
OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE
DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY.

 

GE CAPITAL
FUNDING, LLC

 

4.400%
Note due 2030

 

	No. [   ]	$[          ]

 

CUSIP
No. 36166N AB9

 

GE Capital
Funding, LLC, a Delaware limited liability company (herein called the “Company,” which term includes any successor
Person under the Indenture hereinafter referred to), and an indirect, wholly-owned subsidiary of General Electric Company, a corporation
duly organized and existing under the laws of the State of New York (the “Guarantor”), for value received, hereby promises
to pay to CEDE & CO., or registered assigns, the principal sum of [      ] DOLLARS ($[     ])
on May 15, 2030, and to pay interest thereon from May 18, 2020 or from the most recent Interest Payment Date to which interest
has been paid or duly provided for, semiannually on May 15 and November 15 in each year, commencing November 15, 2020, at the rate
of 4.400% per annum, until the principal hereof is paid or made available for payment. The amount of interest payable for any period
shall be computed on the basis of twelve 30-day months and a 360-day year. In the event that any date on which interest is payable
on this Security is not a Business Day, then a payment of the interest payable on such date will be made on the next succeeding
day which is a Business Day (and without any interest or other payment in respect of any such delay) with the same force and effect
as if made on the date the payment was originally payable. A “Business Day” shall mean, when used with respect to any
Place of Payment, each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in that
Place of Payment are authorized or obligated by law or regulation to close. The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security
(or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which
shall be May 1 or November 1 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date,
provided that interest

    	 

    	

    

payable at the Maturity of
the principal hereof or on a Redemption Date shall be payable to the Person to whom the principal of this Security is paid. Any
such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record
Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at
the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof
shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any
time in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system
on which the Securities of this series may be listed or traded, and upon such notice as may be required by such exchange or automated
quotation system, all as more fully provided in said Indenture.

 

Payment
of the principal of (and premium, if any) and interest on this Security will be made at the office or agency of the Paying Agent
maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of
America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at the option
of the Company payment of interest may be made (i) by check mailed to the address of the Person entitled thereto as such address
shall appear in the Security Register or (ii) by wire transfer in immediately available funds at such place and to such account
as may be designated in writing by the Person entitled thereto as specified in the Security Register at least fifteen days prior
to the relevant Interest Payment Date.

 

Reference
is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place.

 

Unless
the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual, facsimile
or electronic signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any
purpose.

    	 

    	

    

IN WITNESS
WHEREOF, the Company has caused this instrument to be duly executed.

 

Dated: May 18, 2020

 

	 	GE CAPITAL FUNDING, LLC
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	 

    	

    

REVERSE
OF SECURITY

 

This Security
is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued
in one or more series under an Indenture, dated as of May 18, 2020 (herein called the “Indenture,” which term shall
have the meaning assigned to it in such instrument), between the Company, the Guarantor and The Bank of New York Mellon, as Trustee
(herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and
all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties
and immunities thereunder of the Company, the Guarantor, the Trustee and the Holders of the Securities and of the terms upon which
the Securities are, and are to be, authenticated and delivered. Capitalized terms used but not defined herein shall have the meanings
assigned to them in the Indenture. This Security is one of the series designated on the face hereof, limited in aggregate principal
amount to $1,400,000,000; provided, however, that the authorized aggregate principal amount of the Securities of this series may
be increased above such amount by a Board Resolution to such effect; and provided further, that additional Securities of this series
may not be issued under the same CUSIP number unless such additional Securities and the original Securities of this series are
fungible for U.S. federal income tax purposes; and provided further, that additional Securities of this series will rank equally
and ratably with this series in all respects, or in all respects except for the payment of interest accruing prior to the issue
date or except for the first payment of interest following the issue date of those additional Securities.

 

The Securities
of this series are subject to redemption on at least 10 days’, but not more than 60 days’, notice by mail, at any time
and from time to time prior to the Par Call Date, as a whole or in part, at the election of the Company, at a redemption price
equal to the greater of (1) 100% of the principal amount of the Securities of this series to be redeemed; and (2) the sum of the
present values of the Remaining Scheduled Payments (as defined below) on the Securities of this series to be redeemed (exclusive
of interest accrued and unpaid to, but not including, the Redemption Date) discounted to the Redemption Date on a semiannual basis,
assuming a 360-day year consisting of twelve 30-day months, at the Treasury Rate (as defined below) plus 50 basis points; plus,
in either case, accrued and unpaid interest to, if any, but excluding, the Redemption Date.

 

The Securities
of this series are subject to redemption on at least 10 days’, but not more than 60 days’, notice by mail, at any time
and from time to time after the Par Call Date, as a whole or in part, at the election of the Company at a redemption price equal
to 100% of the principal amount of such Securities to be redeemed, plus accrued and unpaid interest, if any, to, but excluding,
the Redemption Date.

 

With respect
to the foregoing, “Comparable Treasury Issue” means the United States Treasury security selected by an Independent
Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Securities of this series
to be redeemed (assuming that such Securities matured on the applicable Par Call Date) that would be utilized, at the time of selection
and in accordance with customary financial practice, in pricing new issues of corporate debt securities of a comparable maturity
to the remaining term of such Securities (assuming that such Securities matured on the applicable Par Call Date). “Comparable

    	 

    	

    

Treasury Price” means,
with respect to any Redemption Date, (A) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after
excluding the highest and lowest such Reference Treasury Dealer Quotations, or (B) if the Independent Investment Banker obtains
fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations. “Independent Investment Banker”
means one of the Reference Treasury Dealers appointed by the Company. “Par Call Date” means February 15, 2030. “Reference
Treasury Dealer” means each of BofA Securities, Inc., Citigroup Global Markets Inc., an affiliate of Credit Suisse Securities
(USA) LLC, Goldman Sachs & Co. LLC, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Mizuho Securities USA LLC
and a Primary Treasury Dealer (as defined below) selected by SMBC Nikko Securities America, Inc., which are primary U.S. Government
securities dealers in The City of New York (a “Primary Treasury Dealer”), and their respective successors plus three
other Primary Treasury Dealers selected by the Company; provided, however, that if any of the foregoing or their affiliates ceases
to be a Primary Treasury Dealer, the Company shall substitute therefor another Primary Treasury Dealer. “Reference Treasury
Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined
by the Independent Investment Banker, of the bid and asked prices for the applicable Comparable Treasury Issue (expressed in each
case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker by the Reference Treasury
Dealers at 3:30 p.m. New York time on the third Business Day preceding such Redemption Date. “Remaining Scheduled Payments”
means, with respect to each Security of this series to be redeemed, the remaining scheduled payments of the principal thereof and
interest thereon that would be due after the related Redemption Date but for such redemption if such Securities matured on the
Par Call Date; provided, however, that, if such Redemption Date is not an Interest Payment Date with respect to such Securities,
the amount of the next succeeding scheduled interest payment thereon will be deemed to be reduced (solely for the purposes of this
calculation) by the amount of interest accrued thereon to such Redemption Date. “Treasury Rate” means, with respect
to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to maturity or interpolated yield to maturity,
computed as of the third Business Day preceding such Redemption Date, of the applicable Comparable Treasury Issue, assuming a price
for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury
Price for such Redemption Date.

 

In the
event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for the unredeemed
portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.

 

The Indenture
contains provisions for satisfaction and discharge of the entire indebtedness of this Security upon compliance by the Company with
certain conditions set forth in the Indenture.

 

The Indenture
contains provisions for defeasance at any time of the entire indebtedness of this Security or certain covenants and Events of Default
with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture.

 

If an
Event of Default with respect to the Securities of this series shall occur and be continuing, the principal of the Securities of
this series may be declared due and payable in the manner and with the effect provided in the Indenture.

    	 

    	

    

The Indenture
permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the Guarantor, and the rights of the Holders of the Securities of all series to be affected under the Indenture
at any time by the Company, the Guarantor and the Trustee with the consent of the Holders of a majority in principal amount of
the Securities at the time Outstanding of all series to be affected, treated as one class. The Indenture also contains provisions
permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on
behalf of the Holders of all Securities of such series, to waive compliance by the Company or the Guarantor with certain provisions
of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder
of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security
issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent
or waiver is made upon this Security.

 

As provided
in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding
with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder
shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this
series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have
made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee
reasonable indemnity, the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this
series at the time Outstanding a direction inconsistent with such request, and the Trustee shall have failed to institute any such
proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit
instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon
on or after the respective due dates expressed or provided for herein.

 

No reference
herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place
and rate, and in the coin or currency, herein prescribed.

 

As provided
in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Security
Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where
the principal of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument
of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney
duly authorized in writing, and thereupon one or more new Securities of this series and of like tenor, of authorized denominations
and for the same aggregate principal amount, will be issued to the designated transferee or transferees. No service charge shall
be made for any such registration of transfer or exchange, but the Company and the Security Registrar may require payment of a
sum sufficient to cover any tax or other governmental charge payable in connection therewith.

    	 

    	

    

Prior
to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this
Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 

The Securities
of this series are issuable only in fully registered, book-entry form without coupons in denominations of $200,000 and any integral
multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities
of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a different
authorized denomination, as requested by the Holder surrendering the same.

 

All terms
used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

THE INDENTURE
AND THIS SECURITY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS
OF LAWS PRINCIPLES THEREOF.

    	 

    	

    

This is
one of the Securities of the series designated therein referred to in the within mentioned Indenture.

 

	Date:  May 18, 2020	 	The Bank of New York Mellon,

As Trustee	 
	 	 	 	 
	 	 	By:	 	 
	 	 	 	Authorized Signatory	 

    	 

    	

    

GUARANTEE

 

For value received, the Guarantor hereby
fully, irrevocably and unconditionally guarantees for the benefit of each Holder the due and punctual payment of all of the obligations
of Company under the Indenture and the Securities, whether for the payment of principal, of premium, if any, or interest, together
with any Additional Interest, if any on the Securities or otherwise, when and as the same shall become due and payable, whether
at maturity, upon redemption or otherwise. This Guarantee will not become effective until the Trustee or authenticating agent duly
executes the certificate of authentication on this Security.

 

The Guarantor hereby agrees that its obligations
hereunder shall be irrevocable and unconditional, irrespective of the validity, legality or enforceability of any Security to which
this Guarantee applies, the absence of any action to enforce such Security, the recovery of any judgment against the Company or
any action to enforce the same or any insolvency, bankruptcy, reorganization or similar proceeding of or with respect to the Company
or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. The Guarantor
hereby expressly waives, to the fullest extent permitted by applicable law, all rights of setoff, recoupment and counterclaim (provided
that nothing herein shall prevent the assertions of such claims by separate suit or compulsory counterclaim), the benefit of any
statute of limitations affecting the Guarantor's liability hereunder, diligence, presentment, demand of payment, filing of claims
with a court in the event of merger or insolvency, bankruptcy, reorganization or similar proceeding of or with respect to the Company,
any right to require a proceeding first against the Company, protest or notice with respect to said Security or the indebtedness
evidenced thereby and all demands whatsoever and covenants that this Guarantee will not be discharged except by complete performance
of the obligations contained in this Guarantee. The Guarantor hereby further expressly waives all other defenses or benefits with
respect to this Guarantee that may be afforded by applicable law limiting the liability of or exonerating guarantors as sureties.

 

An Event of Default under, non-payment of
or acceleration of any series of the Securities shall entitle the Holders thereof to exercise their rights and remedies against
the Guarantor under its Guarantee in the same manner and to the same extent as they have the right to do so against the Company
under the terms of the Indenture when and as originally executed (as amended pursuant to the terms of the Indenture). If any principal,
interest or other amounts on any Security is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy,
reorganization or similar proceeding of or with respect to the Company, whether as a “voidable preference,” “fraudulent
transfer” or otherwise, the Guarantor’s obligations under its Guarantee with respect to such payment will be reinstated
as though such payment has been due but not made at such time.

 

Until the Holder of said Security has received,
from the Company or out of its assets, or from the Guarantor or out of its assets, moneys which such Holder is entitled to retain
for its own account, equal in the aggregate to the unpaid principal amount of (including premium, if any, on) said Security plus
all accrued and unpaid interest thereon and any additional amounts with respect to each Security, the Guarantor will remain liable
on its Guarantee.

    	 

    	

    

The Guarantor shall be subrogated to all
rights of the Holder of the Security to which its Guarantee applies against the Company in respect of any amounts paid by such
Guarantor pursuant to the provisions of such Guarantee; provided that the Guarantor shall not be entitled to enforce or receive
any payment arising out of, or based upon, such right of subrogation until all amounts due on or to become due on or in respect
of all the Securities to which the Guarantees relate shall have been paid in full or duly provided for.

 

Each Guarantee constitutes a guarantee of
payment and not collection and is unsecured and ranks equally and ratably with all other unsecured obligations of the Guarantor.

 

THIS GUARANTEE SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THEREOF.

    	 

    	

    

Dated: May 18, 2020

 

GENERAL ELECTRIC COMPANY

 

	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

    	 

    	

    

THIS SECURITY
HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS
OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED,
TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND
ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, NOT TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY,
[IN THE CASE OF RULE 144A NOTES: PRIOR TO THE DATE THAT IS ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF, THE ORIGINAL
ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL SECURITY OF THIS SERIES AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF
THE ISSUER WAS THE OWNER OF THE SECURITY (OR ANY PREDECESSOR OF THE SECURITY),] [IN THE CASE OF REGULATION S NOTES: PRIOR TO THE
DATE THAT IS 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE DATE ON WHICH THIS SECURITY (OR ANY PREDECESSOR
OF SUCH SECURITY) WAS FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN RULE 902 OF REGULATION S) IN RELIANCE ON
REGULATION S,] OTHER THAN (A) TO THE ISSUER, THE GUARANTOR OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION STATEMENT
THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO
RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED
IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER
AND TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-US
PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT) THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION
S UNDER THE SECURITIES ACT OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES
(D) OR (E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM.

 

[IN THE
CASE OF REGULATION S NOTES: BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT PURCHASING
FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON, OTHER THAN A DISTRIBUTOR, AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION
IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT.]

 

Unless
this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”),
to the Company or its agent for registration

    	 

    	

    

of transfer, exchange, or
payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an
authorized representative of DTC), ANY TRANSFER PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
inasmuch as the registered owner hereof, Cede & Co., has an interest herein.

 

THIS SECURITY
IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY
OR A NOMINEE OF A DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY
OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE
DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY.

 

GE CAPITAL
FUNDING, LLC

 

4.550%
Note due 2032

 

	No. [   ]	$[          ]

 

CUSIP
No. 36166N AC7

 

GE Capital
Funding, LLC, a Delaware limited liability company (herein called the “Company,” which term includes any successor
Person under the Indenture hereinafter referred to), and an indirect, wholly-owned subsidiary of General Electric Company, a corporation
duly organized and existing under the laws of the State of New York (the “Guarantor”), for value received, hereby promises
to pay to CEDE & CO., or registered assigns, the principal sum of [        ] DOLLARS ($[        ])
on May 15, 2032, and to pay interest thereon from May 18, 2020 or from the most recent Interest Payment Date to which interest
has been paid or duly provided for, semiannually on May 15 and November 15 in each year, commencing November 15, 2020, at the rate
of 4.550% per annum, until the principal hereof is paid or made available for payment. The amount of interest payable for any period
shall be computed on the basis of twelve 30-day months and a 360-day year. In the event that any date on which interest is payable
on this Security is not a Business Day, then a payment of the interest payable on such date will be made on the next succeeding
day which is a Business Day (and without any interest or other payment in respect of any such delay) with the same force and effect
as if made on the date the payment was originally payable. A “Business Day” shall mean, when used with respect to any
Place of Payment, each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in that
Place of Payment are authorized or obligated by law or regulation to close. The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security
(or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which
shall be May 1 or November 1 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date,
provided that interest

    	 

    	

    

payable at the Maturity of
the principal hereof or on a Redemption Date shall be payable to the Person to whom the principal of this Security is paid. Any
such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record
Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at
the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof
shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any
time in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system
on which the Securities of this series may be listed or traded, and upon such notice as may be required by such exchange or automated
quotation system, all as more fully provided in said Indenture.

 

Payment
of the principal of (and premium, if any) and interest on this Security will be made at the office or agency of the Paying Agent
maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of
America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at the option
of the Company payment of interest may be made (i) by check mailed to the address of the Person entitled thereto as such address
shall appear in the Security Register or (ii) by wire transfer in immediately available funds at such place and to such account
as may be designated in writing by the Person entitled thereto as specified in the Security Register at least fifteen days prior
to the relevant Interest Payment Date.

 

Reference
is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place.

 

Unless
the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual, facsimile
or electronic signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any
purpose.

    	 

    	

    

IN WITNESS
WHEREOF, the Company has caused this instrument to be duly executed.

 

Dated: May 18, 2020

 

	 	 	GE CAPITAL FUNDING, LLC
	 	 	 
	 	 	By:	 
	 	 	 	Name:
	 	 	 	Title:

 

    	 

    	

    

REVERSE
OF SECURITY

 

This Security
is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued
in one or more series under an Indenture, dated as of May 18, 2020 (herein called the “Indenture,” which term shall
have the meaning assigned to it in such instrument), between the Company, the Guarantor and The Bank of New York Mellon, as Trustee
(herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and
all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties
and immunities thereunder of the Company, the Guarantor, the Trustee and the Holders of the Securities and of the terms upon which
the Securities are, and are to be, authenticated and delivered. Capitalized terms used but not defined herein shall have the meanings
assigned to them in the Indenture. This Security is one of the series designated on the face hereof, limited in aggregate principal
amount to $750,000,000; provided, however, that the authorized aggregate principal amount of the Securities of this series may
be increased above such amount by a Board Resolution to such effect; and provided further, that additional Securities of this series
may not be issued under the same CUSIP number unless such additional Securities and the original Securities of this series are
fungible for U.S. federal income tax purposes; and provided further, that additional Securities of this series will rank equally
and ratably with this series in all respects, or in all respects except for the payment of interest accruing prior to the issue
date or except for the first payment of interest following the issue date of those additional Securities.

 

The Securities
of this series are subject to redemption on at least 10 days’, but not more than 60 days’, notice by mail, at any time
and from time to time prior to the Par Call Date, as a whole or in part, at the election of the Company, at a redemption price
equal to the greater of (1) 100% of the principal amount of the Securities of this series to be redeemed; and (2) the sum of the
present values of the Remaining Scheduled Payments (as defined below) on the Securities of this series to be redeemed (exclusive
of interest accrued and unpaid to, but not including, the Redemption Date) discounted to the Redemption Date on a semiannual basis,
assuming a 360-day year consisting of twelve 30-day months, at the Treasury Rate (as defined below) plus 50 basis points; plus,
in either case, accrued and unpaid interest to, if any, but excluding, the Redemption Date.

 

The Securities
of this series are subject to redemption on at least 10 days’, but not more than 60 days’, notice by mail, at any time
and from time to time after the Par Call Date, as a whole or in part, at the election of the Company at a redemption price equal
to 100% of the principal amount of such Securities to be redeemed, plus accrued and unpaid interest, if any, to, but excluding,
the Redemption Date.

 

With respect
to the foregoing, “Comparable Treasury Issue” means the United States Treasury security selected by an Independent
Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Securities of this series
to be redeemed (assuming that such Securities matured on the applicable Par Call Date) that would be utilized, at the time of selection
and in accordance with customary financial practice, in pricing new issues of corporate debt securities of a comparable maturity
to the remaining term of such Securities (assuming that such Securities matured on the applicable Par Call Date). “Comparable

    	 

    	

    

Treasury Price” means,
with respect to any Redemption Date, (A) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after
excluding the highest and lowest such Reference Treasury Dealer Quotations, or (B) if the Independent Investment Banker obtains
fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations. “Independent Investment Banker”
means one of the Reference Treasury Dealers appointed by the Company. “Par Call Date” means February 15, 2032. “Reference
Treasury Dealer” means each of BofA Securities, Inc., Citigroup Global Markets Inc., an affiliate of Credit Suisse Securities
(USA) LLC, Goldman Sachs & Co. LLC, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Mizuho Securities USA LLC
and a Primary Treasury Dealer (as defined below) selected by SMBC Nikko Securities America, Inc., which are primary U.S. Government
securities dealers in The City of New York (a “Primary Treasury Dealer”), and their respective successors plus three
other Primary Treasury Dealers selected by the Company; provided, however, that if any of the foregoing or their affiliates ceases
to be a Primary Treasury Dealer, the Company shall substitute therefor another Primary Treasury Dealer. “Reference Treasury
Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined
by the Independent Investment Banker, of the bid and asked prices for the applicable Comparable Treasury Issue (expressed in each
case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker by the Reference Treasury
Dealers at 3:30 p.m. New York time on the third Business Day preceding such Redemption Date. “Remaining Scheduled Payments”
means, with respect to each Security of this series to be redeemed, the remaining scheduled payments of the principal thereof and
interest thereon that would be due after the related Redemption Date but for such redemption if such Securities matured on the
Par Call Date; provided, however, that, if such Redemption Date is not an Interest Payment Date with respect to such Securities,
the amount of the next succeeding scheduled interest payment thereon will be deemed to be reduced (solely for the purposes of this
calculation) by the amount of interest accrued thereon to such Redemption Date. “Treasury Rate” means, with respect
to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to maturity or interpolated yield to maturity,
computed as of the third Business Day preceding such Redemption Date, of the applicable Comparable Treasury Issue, assuming a price
for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury
Price for such Redemption Date.

 

In the
event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for the unredeemed
portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.

 

The Indenture
contains provisions for satisfaction and discharge of the entire indebtedness of this Security upon compliance by the Company with
certain conditions set forth in the Indenture.

 

The Indenture
contains provisions for defeasance at any time of the entire indebtedness of this Security or certain covenants and Events of Default
with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture.

 

If an
Event of Default with respect to the Securities of this series shall occur and be continuing, the principal of the Securities of
this series may be declared due and payable in the manner and with the effect provided in the Indenture.

    	 

    	

    

The Indenture
permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the Guarantor, and the rights of the Holders of the Securities of all series to be affected under the Indenture
at any time by the Company, the Guarantor and the Trustee with the consent of the Holders of a majority in principal amount of
the Securities at the time Outstanding of all series to be affected, treated as one class. The Indenture also contains provisions
permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on
behalf of the Holders of all Securities of such series, to waive compliance by the Company or the Guarantor with certain provisions
of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder
of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security
issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent
or waiver is made upon this Security.

 

As provided
in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding
with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder
shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this
series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have
made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee
reasonable indemnity, the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this
series at the time Outstanding a direction inconsistent with such request, and the Trustee shall have failed to institute any such
proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit
instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon
on or after the respective due dates expressed or provided for herein.

 

No reference
herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place
and rate, and in the coin or currency, herein prescribed.

 

As provided
in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Security
Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where
the principal of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument
of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney
duly authorized in writing, and thereupon one or more new Securities of this series and of like tenor, of authorized denominations
and for the same aggregate principal amount, will be issued to the designated transferee or transferees. No service charge shall
be made for any such registration of transfer or exchange, but the Company and the Security Registrar may require payment of a
sum sufficient to cover any tax or other governmental charge payable in connection therewith.

    	 

    	

    

Prior
to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the
Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this
Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 

The Securities
of this series are issuable only in fully registered, book-entry form without coupons in denominations of $200,000 and any integral
multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities
of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a different
authorized denomination, as requested by the Holder surrendering the same.

 

All terms
used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

THE INDENTURE
AND THIS SECURITY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS
OF LAWS PRINCIPLES THEREOF.

    	 

    	

    

This is
one of the Securities of the series designated therein referred to in the within mentioned Indenture.

 

	Date:  May 18, 2020	 	The Bank of New York Mellon,

As Trustee	 
	 	 	 	 
	 	 	By:	 	 
	 	 	 	Authorized Signatory	 

    	 

    	

    

GUARANTEE

 

For value received, the Guarantor hereby
fully, irrevocably and unconditionally guarantees for the benefit of each Holder the due and punctual payment of all of the obligations
of Company under the Indenture and the Securities, whether for the payment of principal, of premium, if any, or interest, together
with any Additional Interest, if any on the Securities or otherwise, when and as the same shall become due and payable, whether
at maturity, upon redemption or otherwise. This Guarantee will not become effective until the Trustee or authenticating agent duly
executes the certificate of authentication on this Security.

 

The Guarantor hereby agrees that its obligations
hereunder shall be irrevocable and unconditional, irrespective of the validity, legality or enforceability of any Security to which
this Guarantee applies, the absence of any action to enforce such Security, the recovery of any judgment against the Company or
any action to enforce the same or any insolvency, bankruptcy, reorganization or similar proceeding of or with respect to the Company
or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. The Guarantor
hereby expressly waives, to the fullest extent permitted by applicable law, all rights of setoff, recoupment and counterclaim (provided
that nothing herein shall prevent the assertions of such claims by separate suit or compulsory counterclaim), the benefit of any
statute of limitations affecting the Guarantor's liability hereunder, diligence, presentment, demand of payment, filing of claims
with a court in the event of merger or insolvency, bankruptcy, reorganization or similar proceeding of or with respect to the Company,
any right to require a proceeding first against the Company, protest or notice with respect to said Security or the indebtedness
evidenced thereby and all demands whatsoever and covenants that this Guarantee will not be discharged except by complete performance
of the obligations contained in this Guarantee. The Guarantor hereby further expressly waives all other defenses or benefits with
respect to this Guarantee that may be afforded by applicable law limiting the liability of or exonerating guarantors as sureties.

 

An Event of Default under, non-payment of
or acceleration of any series of the Securities shall entitle the Holders thereof to exercise their rights and remedies against
the Guarantor under its Guarantee in the same manner and to the same extent as they have the right to do so against the Company
under the terms of the Indenture when and as originally executed (as amended pursuant to the terms of the Indenture). If any principal,
interest or other amounts on any Security is rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy,
reorganization or similar proceeding of or with respect to the Company, whether as a “voidable preference,” “fraudulent
transfer” or otherwise, the Guarantor’s obligations under its Guarantee with respect to such payment will be reinstated
as though such payment has been due but not made at such time.

 

Until the Holder of said Security has received,
from the Company or out of its assets, or from the Guarantor or out of its assets, moneys which such Holder is entitled to retain
for its own account, equal in the aggregate to the unpaid principal amount of (including premium, if any, on) said Security plus
all accrued and unpaid interest thereon and any additional amounts with respect to each Security, the Guarantor will remain liable
on its Guarantee.

    	 

    	

    

The Guarantor shall be subrogated to all
rights of the Holder of the Security to which its Guarantee applies against the Company in respect of any amounts paid by such
Guarantor pursuant to the provisions of such Guarantee; provided that the Guarantor shall not be entitled to enforce or receive
any payment arising out of, or based upon, such right of subrogation until all amounts due on or to become due on or in respect
of all the Securities to which the Guarantees relate shall have been paid in full or duly provided for.

 

Each Guarantee constitutes a guarantee of
payment and not collection and is unsecured and ranks equally and ratably with all other unsecured obligations of the Guarantor.

 

THIS GUARANTEE SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THEREOF.

    	 

    	

    

Dated: May 18, 2020

 

GENERAL ELECTRIC COMPANY

 

	 	By:	 	 
	 	 	Name:	 
	 	 	Title:Exhibit 4.3

 

May 7, 2020

 

Tel Nordic Holding

ApS Søndre Strandvej 

74 A DK-3000

Helsingør Denmark

Att: Lars Skogstad-Jensen

E-mail: skogstad@telnordic.com

 

Ladies and Gentlemen:

 

Reference
is made to that certain Share Sale and Purchase Agreement, dated as of May 7, 2020 (as may be amended from time to time, the “Purchase
Agreement”) among TEL NORDIC Holding ApS (“Seller”), company registration no. 25899474, a company
incorporated and registered under the laws of Denmark, Quaker Chemical BV, company registration no. 33.109.151, a company incorporated
and registered under the laws of The Netherlands (“Buyer”), and Lars Skogstad-Jensen, the sole owner of Seller
(the “Beneficial Owner”), pursuant to which the Buyer has agreed to acquire all of the Shares from the Seller.
Capitalized terms used but not defined herein, including in Annex A attached hereto, shall have the meanings ascribed to
them in the Purchase Agreement. The parties hereto have agreed to waive any provisions of the Purchase Agreement that are inconsistent
with the agreements set forth below, pursuant to Sections 5.2 or 5.3 of the Purchase Agreement or otherwise, and hereby agree as
follows:

 

	1.	Registration Rights.

 

		1.1	Registration.

 

(a)   
Quaker shall use commercially reasonable efforts to cause the Quaker Consideration Shares to be registered pursuant to
the Act as promptly as practical after filing its quarterly report on Form 10-Q for the fiscal period ended March 31, 2020 with
the SEC and in any event within seven (7) Business Days of such filing, subject to paragraph (b) of this Section 1.1. In connection
therewith, Quaker shall prepare and file a registration statement under the Act covering the Quaker Consideration Shares (any
such form, a “Registration Statement”) that shall, if Quaker is then qualified to do so, be on Form S-3, and
shall use its commercially reasonable efforts to cause such Registration Statement to be declared effective as promptly as possible
thereafter. Quaker shall take such steps as are required to register the Quaker Consideration Shares for sale on a delayed or
continuous basis under Rule 415 under the Act or any successor rule thereto pursuant to a Registration Statement on Form S-3 or
the then appropriate form for such an offering. Quaker shall not be required to keep the Registration Statement effective once
the Quaker Consideration Shares have become eligible for sale pursuant to Rule 144 under the Act.

 

     

     

    

 

(b)   
Notwithstanding paragraph (a) of this Section 1.1 Quaker shall be entitled to postpone for up to 60 days the filing of any
Registration Statement, if, at the time Quaker would otherwise be obligated to file such Registration Statement, the management
of Quaker determines, in its sole discretion, that such registration and offering would (i) require premature disclosure of material
information that Quaker has a bona fide business purpose for preserving as confidential, (ii) render Quaker unable to comply with
requirements under the Act or the Exchange Act or (iii) materially interfere with any significant financing, acquisition, disposition,
corporate reorganization, Quaker-initiated registration or other transaction involving Quaker or any of its Affiliates.

 

(c)   
Quaker shall notify the holders of Quaker Consideration Shares at any time when a prospectus relating to such holder’s
Quaker Consideration Shares is required to be delivered under the Act, upon discovery that, or upon the happening of any event
as a result of which, the prospectus included in such Registration Statement, as then in effect, includes an untrue statement of
a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not
misleading in light of the circumstances then existing. The holders of Quaker Consideration Shares shall not offer or sell any
Quaker Consideration Shares covered by the Registration Statement after receipt of such notification until the prospectus is supplemented
or amended so that it does not include an untrue statement of a material fact or omit to state any material fact required to be
stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing.

 

(d)   
Quaker may request a holder of Quaker Consideration Shares to furnish Quaker such information with respect to such holder
and such holder’s proposed distribution of the Quaker Consideration Shares pursuant to the Registration Statement as Quaker
may from time to time reasonably request in writing or as may be required by Law or by the SEC in connection therewith, and such
holder shall furnish Quaker with such information. In the case of registration effected by Quaker, the Seller and Beneficial Owner
hereby agree to jointly and severally indemnify and hold harmless Quaker, each Person (if any) who controls Quaker within the meaning
of Section 15 of the Act, the directors of Quaker and those officers of Quaker who shall have signed any Registration Statement
related thereto, with respect to any material untrue statement or alleged material untrue statement in, or material omission or
alleged material omission from, such Registration Statement or any post-effective amendment thereto or any preliminary prospectus
or final prospectus or any free-writing prospectus (as amended or supplemented, if amended or supplemented) contained in such Registration
Statement, if such statement or omission was made in reliance upon and in conformity with information furnished to Quaker in writing
by the Seller or Beneficial Owner for use in connection with the preparation of such Registration Statement or any preliminary
prospectus or final prospectus contained in such Registration Statement, any free-writing prospectus, or any such amendment or
supplement thereto.

 

(e)  
If the indemnification provided for in paragraph (d) of this Section 1.1 is unavailable in respect to any losses, claims,
damages, costs, expenses, liabilities or actions referred to herein, then, in lieu of indemnifying Quaker, the Seller and the Beneficial
Owner shall jointly and severally contribute to the amount paid or payable by Quaker as a result of such losses, claims, damages,
costs, expenses, liabilities or actions in such proportion as is appropriate to reflect the relative fault of the holder and in
connection with the statements or omissions which result in such losses, claims, damages, costs, expenses, liabilities or actions,
as well as any other relevant equitable considerations.

 

    

     

    

 

(f)   
All fees and expenses incident to the performance of or compliance with Section 1 of this letter agreement by Quaker shall
be borne by Quaker whether or not any Quaker Consideration Shares are sold pursuant to a Registration Statement. The fees and expenses
referred to in the foregoing sentence shall include, without limitation, registration, filing and qualification fees, printers’
and accounting fees, fees and disbursements of counsel for Quaker.

 

(g)  
Unless a Registration Statement covering the resale of the Quaker Consideration Shares is effective under the Act, upon
the written request of Seller, Quaker shall cooperate with Seller’s reasonable requests, from time to time, to effectuate
sales of the Quaker Consideration Shares under Rule 144 or other applicable exemption under the Act.

 

(h)  
Notwithstanding anything to the contrary set forth herein, each holder of Quaker Consideration Shares that intends to sell
or distribute Quaker Consideration Shares registered under a Registration Statement pursuant hereto shall not sell or distribute
such Quaker Consideration Shares if, prior to such sale or distribution, Quaker provides to such holder a certificate (a “Suspension
Certificate”) signed by an executive officer of Quaker stating that, in the good faith judgment of Quaker, such sale
or distribution would require disclosure of non-public material information not otherwise required to be disclosed under Law and
Quaker has a bona fide business purpose for preserving the confidentiality of such information (the “Restriction”).
Upon receipt of a Suspension Certificate, the use of such Registration Statement by such holder shall be suspended until the expiration
of the Restriction (a “Suspension”) and such holder shall suspend all sales and distributions of Quaker Consideration
Shares and suspend use of the applicable prospectus and any issuer free writing prospectuses in connection with all such sales
and distributions. Quaker shall promptly notify such holder upon the termination of a Suspension.

 

2.          
Representations and Warranties of the Seller. The Seller represents and warrants to Quaker that the statements
contained in this Section 2 are true and correct as of the date hereof.

 

2.1              
Purchase Entirely for Own Account. The Seller is acquiring the Convertible Note and the Quaker Consideration
Shares issuable upon conversion thereof solely for its own account for investment purposes and not with a view to, or for offer
or sale in connection with, any distribution thereof except in compliance with the Act, and the Seller has no plans to enter into
any contract, undertaking, agreement or arrangement for any such purpose.

 

2.2              
Investor Status; Etc. The Seller is an “accredited investor” as defined in Rule 501 of Regulation
D promulgated under the Act and was not organized for the purpose of acquiring the Convertible Note or the Quaker Consideration
Shares. Seller has sufficient knowledge and experience in financial and business matters so as to be capable of evaluating the
merits and risks of its investment in the Convertible Note and the Quaker Consideration Shares and is capable of bearing the economic
risks of such investment. Seller has undertaken such investigation as Seller has deemed necessary to enable Seller to make an informed
and intelligent decision with respect to such investment. Without limiting the generality of the foregoing, Seller acknowledges
that Quaker and its Affiliates make no representation or warranty with respect to any projections, estimates or budgets delivered
to or made available to Seller of future revenues, future results of operations (or any component thereof), future cash flows or
future financial condition (or any component thereof) of Quaker and its subsidiaries or the future business and operations of Quaker
and its subsidiaries or any other information or documents delivered or made available to Seller or its Representatives with respect
to Quaker and its subsidiaries or any of the foregoing business, assets, liabilities or operations, other than the Quaker SEC Reports.

 

     

     

    

 

2.3              
Securities Not Registered. The Seller acknowledges that the Convertible Note and the Quaker Consideration
Shares are not registered under the Act or any state or foreign securities Laws on the grounds that the issuance thereof to the
Seller in connection with the transactions contemplated by this letter agreement is exempt from otherwise applicable registration
requirements, and that the reliance of Quaker on such exemptions is predicated in part on the acknowledgements, representations
and warranties set forth in herein. Seller acknowledges that the Convertible Note and the Quaker Consideration Shares may not be
transferred or sold except pursuant to the registration provisions of the Act or pursuant to an applicable exemption therefrom
and subject to state and foreign securities Laws and regulations, as applicable.

 

2.4              
No Conflict. The execution and delivery of this letter agreement by the Seller and Beneficial Owner and the
consummation of the transactions contemplated hereby will not conflict with or result in any violation of or default by the Seller
or Beneficial Owner (with or without notice or lapse of time, or both) under, or give rise to a right of termination, cancellation
or acceleration of any obligation or to a loss of a material benefit under (i) any provision of the organizational documents of
the Seller, (ii) any agreement or instrument, permit, franchise, license, judgment, order, statute, law, ordinance, rule or regulations,
applicable to the Beneficial Owner or Seller or their respective properties or assets or (iii) require the consent, notice or other
action by any person under any contract to which the Seller or Beneficial Owner is a party.

 

2.5              
Consents. All consents, approvals, orders and authorizations required on the part of the Seller or Beneficial
Owner in connection with the execution, delivery or performance of this letter agreement and the consummation of the transactions
contemplated herein have been obtained and are effective as of the applicable date of Closing.

 

2.6              
No Recommendation. The Seller understands that no federal or state agency has made any findings or determination
as to the fairness of the offering or the sale and purchase of the Quaker Consideration Shares hereunder (or any part thereof)
for public investment, or any recommendation or endorsement of the Quaker Consideration Shares (or any part thereof).

 

2.7              
Access to Information. The Seller has had access to such information regarding the business and finances of
Quaker and the Quaker Consideration Shares including, without limitation, the Quaker SEC Reports, and has been provided the opportunity
to discuss with the Quaker’s management the business, affairs and financial condition of Quaker and such other matters with
respect to Quaker, the Convertible Note and the Quaker Consideration Shares as would concern a reasonable person considering the
transactions contemplated by this letter agreement and/or concerned with the operation of Quaker, including, without limitation,
pursuant to a meeting and/or discussions with management of Quaker.

 

2.8              
Confidentiality. The Seller acknowledges that Seller has received and may in the future receive non-public
and material information within the meaning of the Act (“Confidential Information”). The Seller hereby acknowledges
and agrees that, for so long as the Confidential Information has not been publicly disclosed by Quaker, the Seller shall not (i)
disclose any Confidential Information to any Person other than to those advisors, agents, counsel, Affiliates, associates and other
representatives actively involved in the investment decision with respect to the transactions contemplated by this letter agreement
(“Representatives”) or (ii) use the Confidential Information for any purpose other than to evaluate the transactions
contemplated by this letter agreement. The Seller shall cause each of its Representatives to comply with this letter agreement
as though a party hereto and shall be responsible for any such breach by a Representative.

 

     

     

    

 

3.            
Miscellaneous. This letter agreement, together with the Purchase Agreement and the other transaction documents
identified therein, constitute the entire agreement among the undersigned parties with respect to the subject matter hereof. Sections
16 through 22 of the Purchase Agreement shall apply to this letter agreement, mutatis mutandis.

 

[Signature Page Follows]

 

     

     

    

 

If this letter agreement
correctly represents your understanding of our agreement regarding the matters described above, please sign below where indicated.

 

	 	Very truly yours,
	 	 
	 	QUAKER:
	 	 
	 	QUAKER CHEMICAL CORPORATION
	 	 
	 	By:	/s/ ROBERT T. TRAUB
	 	Name: Robert T. Traub
	 	Title: Senior Vice President, General Counsel & Corporate Secretary
	 	 
	 	Agreed to and accepted:
	 	 
	 	SELLER:
	 	 
	 	TEL NORDIC HOLDING APS
	 	 
	 	By:	 /s/ LARS SKOGSTAD-JENSEN
	 	Name: Lars Skogstad-Jensen
	 	Title: CEO
	 	 
	 	BENEFICIAL OWNER:
	 	 
	 	/s/ LARS SKOGSTAD-JENSEN
	 	Name:
Lars Skogstad-Jensen

 

     

     

    

 

ANNEX A - DEFINITIONS

 

		(A)	“Contracts” means all contracts, leases,
deeds, mortgages, licenses, instruments, notes, commitments, undertakings, indentures, joint ventures and all other agreements,
commitments and legally binding arrangements, whether written or oral, including all amendments, modifications and waivers thereto.

 

		(B)	“Encumbrance” means any charge, claim, community property interest,
pledge, condition, equitable interest, lien (statutory or other), option, security interest, mortgage, easement, encroachment,
right of way, right of first refusal, or restriction of any kind, including any restriction on use, voting, transfer, receipt of
income or exercise of any other attribute of ownership.

 

		(C)	“Governmental Authority” means any federal, state, local or
foreign (supranational, national, federal, state or local) government or political subdivision thereof, or any agency or instrumentality
of such government or political subdivision (including any public prosecutor offices), or any court or tribunal of competent jurisdiction,
arbitral, administrative agency or commission or other governmental authority or instrumentality, domestic or foreign, or any stock
exchange, listing authority or any instrumentality thereof.

 

		(D)	“Law” means any statute, law, ordinance,
regulation, rule, code, order, constitution, treaty, common law, judgment, decree, or other requirement or rule of law of any
Governmental Authority.

 

		(E)	“Order” means any order, writ, judgment,
injunction, decree, stipulation, ruling, award or settlement, whether civil, criminal or administrative, by or of any Governmental
Authority or arbitrator.

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