Document:

EX-10.11

 Exhibit 10.11 
  

 
  

SUPPLY AGREEMENT 
 dated as
of [●], 2017 
 between 

[SELLER] 
 and 

[BUYER] 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	5	 
			
	 Section 1.01
	 	 Certain Defined Terms
	  	 	5	 
		
	 ARTICLE II TERM AND TERMINATION
	  	 	7	 
			
	 Section 2.01
	 	 Term
	  	 	7	 
	 Section 2.02
	 	 Seller’s Obligations on Termination of this Supply Agreement
	  	 	7	 
		
	 ARTICLE III SCOPE
	  	 	8	 
			
	 Section 3.01
	 	 Scope
	  	 	8	 
		
	 ARTICLE IV PURCHASE AND SUPPLY OF SELLER GOODS
	  	 	8	 
			
	 Section 4.01
	 	 Purchasing Commitment
	  	 	8	 
	 Section 4.02
	 	 Supplying Commitment
	  	 	8	 
		
	 ARTICLE V PURCHASE ORDERS
	  	 	9	 
			
	 Section 5.01
	 	 Outstanding POs at Closing
	  	 	9	 
	 Section 5.02
	 	 PO Contents
	  	 	9	 
	 Section 5.03
	 	 Modifications and Scheduling POs
	  	 	10	 
	 Section 5.04
	 	 Acceptance of POs
	  	 	10	 
		
	 ARTICLE VI TERMS & CONDITIONS OF PURCHASE
	  	 	10	 
			
	 Section 6.01
	 	 Terms & Conditions of Purchase
	  	 	10	 
		
	 ARTICLE VII ALLOCATION OF LIABILITY
	  	 	11	 
			
	 Section 7.01
	 	 Limitation of Liability
	  	 	11	 
	 Section 7.02
	 	 Insurance
	  	 	11	 
		
	 ARTICLE VIII PRICING, PAYMENT TERMS AND INVOICING
	  	 	11	 
			
	 Section 8.01
	 	 Pricing and Payment Terms
	  	 	11	 
	 Section 8.02
	 	 Invoicing
	  	 	11	 
	 Section 8.03
	 	 Taxes
	  	 	12	 
		
	 ARTICLE IX GENERAL PROVISIONS
	  	 	12	 
			
	 Section 9.01
	 	 Authority
	  	 	12	 
	 Section 9.02
	 	 Notices
	  	 	12	 
	 Section 9.03
	 	 Entire Agreement, Waiver and Modification
	  	 	13	 
	 Section 9.04
	 	 No Third-Party Beneficiaries
	  	 	13	 
	 Section 9.05
	 	 Compliance with Laws and Regulations
	  	 	13	 

  
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 TABLE OF CONTENTS 

(Continued) 
  

							
	 	 	 	  	Page	 
			
	 Section 9.06
	 	 Governing Law; Dispute Resolution
	  	 	13	 
	 Section 9.07
	 	 Confidentiality
	  	 	14	 
	 Section 9.08
	 	 Counterparts; Electronic Transmission of Signatures
	  	 	15	 
	 Section 9.09
	 	 Survival
	  	 	15	 
	 Section 9.10
	 	 Assignment
	  	 	15	 
	 Section 9.11
	 	 Rules of Construction
	  	 	15	 
	 Section 9.12
	 	 Non-Recourse
	  	 	16	 
	 Section 9.13
	 	 Audit
	  	 	16	 
	 Section 9.14
	 	 Independent Contractors
	  	 	16	 

 APPENDICES 
  

			
	APPENDIX 1	  	Seller Goods & Pricing Schedule
	APPENDIX 2	  	Seller Standard Terms
	APPENDIX 3	  	Seller’s Software License
	APPENDIX 4	  	Integrity Guide for Suppliers, Contractors and Consultants and other requirements from the GE Supplier website
	APPENDIX 5	  	Outstanding POs at Closing

  
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 SUPPLY AGREEMENT 

This Supply Agreement, dated as of [●], 2017 (as amended, modified or supplemented from time to time in accordance with its terms, this
“Supply Agreement”), is made by and between [Name of specific legal entity in the GE or Baker Hughes buying division], a [jurisdiction of organization] [legal entity structure], on behalf of itself and the legal entities operating
on its behalf, and [Name of specific legal entity in the GE or Baker Hughes selling division], a [jurisdiction of organization] [legal entity structure], on behalf of itself and the legal entities operating on its behalf (each a
“Party”, and collectively, the “Parties”). For purposes of this Supply Agreement, when one of the above entities sells to one of the above entities, the selling entity will hereafter be referred to as the
“Seller” and the buying entity will hereafter be referred to as the “Buyer”, but each of [●] and [●] will be a Seller or Buyer as appropriate under the circumstances of this Agreement. 

RECITALS 
 WHEREAS,
General Electric Company, a New York corporation (“GE”), Baker Hughes Incorporated, a Delaware corporation (“BHI”) and certain subsidiaries of BHI entered into that certain Transaction Agreement and Plan of Merger,
dated as of October 30, 2016 (as it may be amended from time to time, the “Transaction Agreement”); 
 WHEREAS,
pursuant to the Transaction Agreement, GE will combine its oil and gas business (“GE O&G”) with BHI to create “Baker Hughes, a GE Company,” which, upon closing of the transaction, will operate as a public company
traded on the New York Stock Exchange with approximately 62.5% of the voting stock owned by GE and approximately 37.5% of the voting stock owned by public shareholders (“Baker Hughes”); 

WHEREAS, the Transaction Agreement requires delivery of this Supply Agreement on the Effective Date (as defined below); and 

WHEREAS, Buyer desires to license software or purchase from Seller certain products, equipment or component parts and related services as
supplied to Buyer during the Baseline Period as more fully described on Appendix 1 and excluding all Excluded Products, as well as such other products, equipment, or component parts and related services or software as the Parties may agree
from time to time (each such software, product, equipment and or component parts or related service being a “Seller Good” and, collectively, the “Seller Goods”) and the Parties desire that this Supply Agreement and
any POs issued, acknowledged and agreed to by Seller pursuant to this Supply Agreement establish the exclusive terms and conditions as to the transactions for the Seller Goods. 

NOW, THEREFORE, in consideration of the foregoing and the mutual agreements contained herein, the Parties hereby agree as follows: 

  
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 ARTICLE I 

DEFINITIONS 

Section 1.01 Certain Defined Terms. The following capitalized terms used in this Supply Agreement shall have the meanings set
forth below: 
 “Affiliate” shall mean, as to any Person, any other Person which, directly or indirectly, Controls, or is
Controlled by, or is under common Control with, such Person; however, for purposes of this Supply Agreement, (i) Baker Hughes and its Subsidiaries shall not be considered affiliates of GE and (ii) GE and its Subsidiaries (except for
the Subsidiaries of Baker Hughes) shall not be considered affiliates of Baker Hughes. 
 “Baker Hughes” shall have the
meaning set forth in the Recitals. 
 “Baseline Period” shall mean the 12-month
period immediately preceding October 30, 2016. 
 “Business Day” shall mean a day, other than Saturday,
Sunday or other day on which commercial banks in New York, New York are authorized or required by applicable Law to close. 

“Buyer” shall have the meaning set forth in the Preamble. 

“Control” or “Controlling” shall mean the possession, direct or indirect, of the power to direct or cause
the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract, or otherwise. 

“Effective Date” shall mean the date hereof. 

“Excluded Products” shall mean any (i) GE Digital Services, including the GE entities-hosted Predix platform and related
applications and (ii) any Professional or Consultancy Services. 
 “GE Digital Services” shall mean those products and
services that are the subject of that certain GE Digital Master Products and Services Agreement, dated the date hereof, between GE Digital LLC and [Newco LLC]. 

“GE O&G” shall have the meaning set forth in the Recitals. 

“Governmental Entity” shall mean any United States federal, state or local, or foreign, international or supranational,
government, court or tribunal, or administrative, executive, governmental or regulatory or self-regulatory body, agency or authority thereof. 

“Group” shall mean with respect to either Party, such Party (either Buyer or Seller, as applicable), as well as its
Affiliates and their respective shareholders, officers, directors, employees. For the avoidance of doubt, Group shall not include, in connection with the PO to which the Seller Goods relate, a Party’s customer, joint venture partners, joint
interest 

  
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owners, co-lessees, consortium members or other partners, or contractors and subcontractors of any tier in connection with such PO. “Buyer Group”
and “Seller Group” shall be construed accordingly. Seller Group does not include any member of Buyer Group and Buyer Group does not include any member of Seller Group. 

“Initial Term” shall have the meaning set forth in Section 2.01. 

“Law” shall mean any United States federal, state, local or non-United States
statute, law, ordinance, regulation, rule, code, order or other requirement or rule of law, including common law. 

“Party” shall mean Seller and Buyer individually, and “Parties” means Seller and Buyer collectively, and, in
each case, the legal entities operating on their behalf and entering into POs hereunder, and further in each case their permitted successors and assigns. 

“Person” shall mean an individual, corporation, partnership, joint venture, association, trust, unincorporated organization,
limited liability company or governmental or other entity. 
 “POs” shall mean purchase orders issued by Buyer or any of
its Affiliates to Seller for the Seller Goods during the Term. 
 “Professional or Consultancy Services” shall mean any
service provided by or to GE or its Affiliates or by or to Baker Hughes or its Affiliates pursuant to a Long-Term Ancillary Agreement (as defined in the Transaction Agreement) but excluding this Supply Agreement. 

“Regardless of Cause or Action” shall mean (to the maximum extent permitted by applicable Law), regardless of: cause, fault,
default, negligence in any form or degree, strict or absolute liability, breach of duty (statutory or otherwise) of any person, including in each of the foregoing cases of the indemnified person, unseaworthiness of any vessel, or any defect in any
premises/vessel; for all of the above, whether pre-existing or not and whether the damages, liabilities, or claims of any kind result from contract, warranty, indemnity, tort/extra-contractual or strict
liability, quasi contract, Law, or otherwise. 
 “Representatives” shall mean the applicable Party’s respective
directors, officers, members, employees, representatives, agents, attorneys, consultants, contractors, accountants, financial advisors and other advisors. 

“Seller” shall have the meaning set forth in the Preamble. 

“Seller Goods” shall have the meaning set forth in the Preamble. 

“Seller’s Software License” shall mean each applicable license set forth on Appendix 3 hereto. 

“Seller Standard Terms” shall mean each applicable Seller’s terms and conditions for sale or license of the Seller Goods
and attached as Appendix 2 (for certain products, equipment or component parts and related services) and Appendix 3 (for certain Seller software, 

  
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including software as a service (SaaS), embedded software, or software that is installed on Buyer’s equipment), including geographic variations for each such Seller Standard Terms as
currently in use at the time of execution of this Supply Agreement, in each case, with such amendments, modifications and supplements to each such applicable standard terms as the applicable Seller may adopt from time to time, but solely to the
extent such amendments, modifications and supplements are required by applicable Law or as otherwise agreed to in writing by the Parties. 

“Site” shall mean the premises where Seller Goods are used or services are performed, not including Seller’s premises
from which it performs services. 
 “Subsidiary” shall mean with respect to any Person, another Person, an amount of the
voting securities or other voting ownership interests of which is sufficient, together with any contractual rights, to elect at least a majority of its Board of Directors or other governing body (or, if there are no such voting interests, 50% or
more of the equity interests of which) is owned directly or indirectly by such first Person. 
 “Supply Agreement” shall
have the meaning set forth in the Preamble. 
 “Tax” shall have the meaning set forth in the Transaction Agreement. 

“Trigger Date” shall have the meaning set forth in that certain Stockholders Agreement between GE and Baker Hughes dated as
of the date hereof, as it may be amended or modified. 
 ARTICLE II 

TERM AND TERMINATION 

Section 2.01 Term. The term of this Supply Agreement shall commence on the Effective Date and shall continue for a period of sixty
(60) months (the “Initial Term”). Following the Initial Term, this Supply Agreement shall automatically renew on a yearly basis until the Trigger Date (including the Initial Term, the “Term”). Upon the Trigger
Date, the terms of this Supply Agreement shall continue to govern all POs governed by this Supply Agreement that are entered into between the Parties prior to the Trigger Date. 

Section 2.02 Seller’s Obligations on Termination of this Supply Agreement. Unless otherwise specified by Buyer, and to the
extent not already provided for in any PO, upon Seller’s receipt of a notice of termination of this Supply Agreement, Seller shall promptly: (a) stop work under any POs outstanding as of such notice date as directed in the notice;
(b) place no further subcontracts/orders in respect of any such outstanding POs; (c) terminate, or if requested by Buyer assign, all such outstanding POs; and (d) deliver all completed work, work in process,
designs, drawings, specifications, documentation and materials required or produced expressly for such terminated POs that have been paid for in full by Buyer. 

  
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 ARTICLE III 

SCOPE 
 Section 3.01
Scope. This Supply Agreement shall apply to all POs issued by Buyer or any of its Affiliates to Seller for the Seller Goods on or following the Effective Date during the Term. No pre-printed, click
through, click wrap or reverse side terms and conditions included in document(s) of either Party, other than the Seller Standard Terms, shall be binding or have any legal effect whatsoever on this Supply Agreement and/or any POs. 

ARTICLE IV 
 PURCHASE
AND SUPPLY OF SELLER GOODS 
 Section 4.01 Purchasing Commitment. 

(a) During the Term, Buyer or any of its Affiliates acting on its behalf may purchase from Seller any or all of the Seller Goods. 

(b) The Parties hereby acknowledge that the quantities of Seller Goods (i) are subject to adjustment at the discretion of Buyer based on
its actual volume, customer and business requirements and (ii) shall not, other than with respect to accepted POs, constitute a commitment or obligation by Buyer or any Affiliate to purchase any minimum percentage or volume of Seller Goods from
Seller or any other entity. 
 Section 4.02 Supplying Commitment. 

(a) Seller shall sell any or all of the Seller Goods to Buyer or any of its Affiliates pursuant to any POs accepted by Seller in its
discretion in accordance with the terms of this Supply Agreement. 
 (b) At all times during the Term, Seller agrees to possess and maintain
the necessary capacity, machinery, personnel and resources to sell to Buyer or any of its Affiliates at least the volume of Seller Goods set forth in all outstanding POs accepted by Seller in its discretion pursuant to this Supply Agreement. 

(c) Subject to the manufacturing and delivery forecasting provisions of the applicable PO, Seller shall not discriminate between Buyer, on the
one hand, and any other customer of Seller, on the other, in the scheduling or the provision of any of the Seller Goods, but nothing in this Supply Agreement shall entitle Buyer to any priority over other customers in such scheduling or provision,
unless such is expressly agreed to in writing by Buyer and Seller in the applicable PO. 

  
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 ARTICLE V 

PURCHASE ORDERS 

Section 5.01 Outstanding POs at Closing. Seller shall fulfil all POs issued by Buyer and accepted by Seller in writing as of the
Effective Date with respect to the Seller Goods as set forth on Appendix 5, at the prices specified in such POs and upon the terms already in place; provided that such terms are in the ordinary course consistent with past practice
during the Baseline Period. For any POs accepted on or following the Effective Date , this Supply Agreement will supersede any existing agreements between Buyer on the one hand, and Seller, on the other hand, for the purchase or license of Seller
Goods. 
 Section 5.02 PO Contents. All purchases or licenses of the Seller Goods under this Supply Agreement shall be subject
to the issuance of a PO by Buyer or any of its Affiliates and the acceptance of such PO by Seller pursuant to the applicable Seller Standard Terms. POs issued by Buyer or any of its Affiliates pursuant to this Supply Agreement shall contain at a
minimum: 
 (a) a PO number; 

(b) a Seller Good description or reference and scope of supply; 

(c) the required delivery date or dates or delivery forecast and delivery terms (determined consistently with the practices of the applicable
Seller and Buyer during the Baseline Period with respect to such forecasting) if different from the terms set forth in the applied Seller Standard Terms; 

(d) the applicable prices as determined in accordance with Section 8.01 of this Supply Agreement or as otherwise agreed in writing
between the Parties; 
 (e) the quantities to be released for delivery; 

(f) any applicable technical requirements; 

(g) any clauses required by applicable Law; 

(h) any clauses requested by Buyer, including to comply with its customer terms, that are different from the Seller Standard Terms, which will
be highlighted in the PO in order to ensure that Seller is aware of and can expressly agree to and comply with such clauses, and, provided that Seller is not required to agree to any such Buyer requests; and 

(i) a statement on the face of the PO that reads as follows: “The parties agree that notwithstanding any reference to any other document,
this purchase order shall be governed by that certain Supply Agreement entered into by [Seller] and [Buyer] on [the Effective Date]”; provided that the terms of this Supply Agreement shall apply notwithstanding the absence of such
statement on the face of any PO between the Parties during the Term of this Supply Agreement. 

  
 9 

 Section 5.03 Modifications and Scheduling POs. 

(a) All delivery dates, shipping instructions, quantities ordered and other like terms of a PO may be revised upon the issuance by Buyer to
Seller of a change order in writing; provided that any and all changes set forth in such change orders must first be mutually agreed to by and between Buyer and Seller. If any such change results in an increase or decrease in the cost
or time required for the performance of the work under the PO, there shall be a mutually agreed equitable adjustment of the PO price and the scheduled delivery date(s). Buyer shall pay for all work that Seller commenced for which the Seller has
incurred costs under the PO prior to any quantities being decreased. Seller shall not be obligated to proceed with any requested changed or extra work, or other terms, until the price of such change and its effect on the scheduled delivery date(s)
have been agreed upon and effected by a change order. 
 (b) Seller agrees to provide a general schedule and confirmation of
completion/shipment date(s) at the time a PO is placed and accepted; provided that none of these schedules or confirmations shall modify any applicable agreed delivery date(s) set forth in the relevant POs as accepted by Seller.
Subject to appropriate safeguards for the protection of Seller’s proprietary information and upon reasonable advance request, Seller also agrees to allow Buyer’s [Fulfilment and Supplier Quality Engineer][staff] regular access to its
facilities to review the PO status and quality, and to provide a bi-monthly report on schedule status. In the event that any portion of the Seller Goods falls behind schedule, Seller shall (a) provide a
detailed schedule and verbal updates as needed with regard to the status of the PO completion and (b) allow for on-site expediting by Buyer or an agent appointed by them. 

Section 5.04 Acceptance of POs. All POs, acceptances, change orders and other writings or electronic communications between the
Parties, regardless of whether stated on the face of the PO or not, shall be (i) governed by this Supply Agreement and (ii) shall be deemed a separate and independent contract between Seller and Buyer from any other PO issued hereunder.

 ARTICLE VI 

TERMS & CONDITIONS OF PURCHASE 

Section 6.01 Terms & Conditions of Purchase. 

(a) Purchases made by Buyer of Seller Goods shall be subject to the following: 

(i) the terms of this Supply Agreement; 

(ii) the applicable Seller Standard Terms; and 

(iii) subject to Section 5.02(h), any additional terms contained in POs issued hereunder (including, on a PO by PO basis, any modifications to
the Seller Standard Terms that the Parties may, from time to time, agree to in writing following negotiations as may be required to meet the specification and contractual requirements of Buyer or Buyer’s end customer). 

  
 10 

 (b) In the event of a conflict, the following order of precedence will prevail: 

(i) the terms of this Supply Agreement, excluding the applicable Seller Standard Terms and Seller’s Software License; 

(ii) the terms of any POs issued hereunder; 

(iii) Seller’s Software License for the license of Seller’s software; 

(iv) the applicable Seller Standard Terms; and 

(v) Drawings, specifications and related documents specifically incorporated by reference herein or in any PO. 

ARTICLE VII 
 ALLOCATION
OF LIABILITY 
 Section 7.01 Limitation of Liability. Notwithstanding anything to the contrary contained in this Supply
Agreement or the applicable Seller Standard Terms, the Parties hereby agree that neither the Buyer nor the Seller shall be liable to the other for any loss of profit or revenues, loss of use of equipment or systems, interruption of business, cost of
replacement power, cost of capital, downtime costs, increased operating cost, or any consequential, indirect, incidental, special or punitive damages Regardless of Cause or Action or claims of Buyer’s customers for the foregoing types of
damages. 
 ARTICLE VIII 

PRICING, PAYMENT TERMS AND INVOICING 

Section 8.01 Pricing and Payment Terms. 

(a) Pricing for the Seller Goods set forth on Appendix 1 shall be based on the methodology set forth thereon. Charges in addition to
those determined by the applicable pricing methodology (including charges in respect of terms pursuant to Section 6.01(a)(iii)) shall be agreed to in writing by Buyer and Seller. 

(b) Pricing for the Seller Goods not set forth on Appendix 1 shall be determined based on pricing methodologies used by Seller for
pricing such Seller Goods during the Baseline Period and in the absence of past orders on an arms’ length basis. 
 Section 8.02
Invoicing. Buyer shall pay or settle each invoice from Seller, either directly by wire transfer or through GE’s inter-company settlement system, no later than [●] days after Buyer’s receipt of Seller’s invoice. 

  
 11 

 Section 8.03 Taxes. 

(a) Pricing for Seller Goods is exclusive of, and Buyer shall bear and timely pay, any and all sales, use, value-added, transfer and other
similar Taxes (and any related interest and penalties) imposed on, or payable with respect to, any Seller Goods purchased by Buyer pursuant to this Supply Agreement; provided that (i) to the extent such Taxes are required to be
collected and remitted by Seller, Buyer shall pay such Taxes to such Seller upon receipt of an invoice from such Seller, and (ii) for the avoidance of doubt, such Pricing shall be inclusive of, and Seller shall bear, any income similar Taxes
imposed on or payable by Seller. 
 (b) Cooperation The Parties will take reasonable steps to cooperate to minimize the imposition
of, and the amount of, Taxes described in this Section 8.03. 
 ARTICLE IX 

GENERAL PROVISIONS 

Section 9.01 Authority. Each Party represents that it has full power and authority to enter into and perform this Supply
Agreement. Each Party represents that those persons signing this Supply Agreement on behalf of such Party are duly authorized Representatives of such Party and properly empowered to execute this Supply Agreement. 

Section 9.02 Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be
given (and, in the case of delivery in person or by overnight mail, shall be deemed to have been duly given upon receipt) by delivery in person or overnight mail to the respective Parties, delivery by facsimile transmission (providing confirmation
of transmission) to the respective Parties or delivery by electronic mail transmission (providing confirmation of transmission) to the respective Parties. Any notice sent by facsimile transmission or electronic mail transmission shall be deemed to
have been given and received at the time of confirmation of transmission. All notices, requests, claims, demands and other communications hereunder shall be addressed as follows, or to such other address, facsimile number or email address for a
Party as shall be specified in a notice given in accordance with this Section 9.02. 
 (a) If to Seller: 

[Seller] 
 Attention: [●]

 Telephone: [●] 

Facsimile: [●] 
 Email:
[●] 
 (b) If to Buyer: 

[Buyer] 
 Attention: [●]

 Telephone: [●] 

Facsimile: [●] 
 Email:
[●] 

  
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 Section 9.03 Entire Agreement, Waiver and Modification. This Supply Agreement, the
applicable Seller Standard Terms and any POs issued hereunder are the complete and exclusive statement of the agreement between the Parties relating to the subject matter hereof. No modification, termination or waiver of any provision hereof shall
be binding upon a Party unless made in writing and executed by an authorized Representative of such Party. 
 Section 9.04 No
Third-Party Beneficiaries. This Supply Agreement is for the sole benefit of the Parties and their permitted successors and assigns and nothing in this Supply Agreement, express or implied, is intended to or shall confer upon any other Person,
including any union or any employee or former employee of Seller or Buyer, or entity any legal or equitable right, benefit or remedy of any nature whatsoever, including any rights of employment for any specified period, under or by reason of this
Supply Agreement. 
 Section 9.05 Compliance with Laws and Regulations. 

(a) Each Party hereto shall be responsible for its own compliance with any and all Laws applicable to its performance under this Supply
Agreement. No Party will take any action in violation of any such applicable Law that would reasonably be likely to result in liability being imposed on the other Party. Seller acknowledges that it has received, reviewed and agrees to follow the GE
Integrity Guide for Suppliers, Contractors and Consultants, and other requirements of GE Suppliers hyperlinked or attached hereto as Appendix 4. The policies and procedures outlined in Appendix 4 shall apply to Baker Hughes or GE
when it acts as Seller hereunder regardless of whether it has adopted or modified such policies. 
 (b) The PO price is based on
Seller’s design, manufacture and delivery of the Seller Goods pursuant to (a) its design criteria, manufacturing processes and procedures and quality assurance program, (b) those portions of industry specifications, codes and
standards in effect as of the date of the PO that are applicable to the Seller Goods, and (c) United States Federal, State and local laws and rules of Governmental Entities in effect and applicable to the Seller Goods on the date of the PO.

 Section 9.06 Governing Law; Dispute Resolution. 

(a) This Supply Agreement and any disputes (whether for breach of contract, tortious conduct or otherwise and whether predicated on common
law, statute or otherwise) shall in all respects be governed by, and construed in accordance with, the laws of the State of New York, including all matters of construction, validity and performance, in each case without reference to any conflict of
law rules that might lead to the application of the laws of any other jurisdiction. 
 (b) The parties exclude application of the United
Nations Convention on Contracts for the International Sale of Goods. 
 (c) Any dispute arising out of or in connection with this Supply
Agreement or any POs issued under it between Buyer and Seller should be resolved as rapidly as reasonably possible pursuant to good faith discussion between the respective project or transaction level employees. If a dispute cannot be resolved
between the project or transaction level employees 

  
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within four (4) weeks of the dispute arising, the project or transaction level employees should submit the dispute to the leaders of their respective businesses for resolution. If the
business leaders are unable to resolve the dispute promptly, it should be escalated to the Chief Executive Officer of Baker Hughes and the Chief Executive Officer of the relevant Tier 1 GE business (or such other equivalent officer as designated by
such Tier 1 GE business Chief Executive Officer). If the dispute is nonetheless unresolved, the dispute resolutions procedures in (d) below shall apply. 

(d) Any dispute arising out of or in connection with this Supply Agreement or an individual PO that cannot be settled by the negotiation
procedure set forth in Section 9.06(c) shall be resolved in accordance with the dispute resolution provision in Seller Standard Terms. 

Section 9.07 Confidentiality. In addition, and not in contravention, to the confidentiality provisions set forth in the Seller
Standard Terms and the Transaction Agreement, the Parties agree as follows: 
 (a) In connection with this Supply Agreement, Seller and
Buyer (as to information disclosed, the “Disclosing Party”) may each provide the other Party (as to information received, the “Receiving Party”) with Confidential Information. “Confidential
Information” means (a) all pricing for Seller Goods, (b) all information that is designated in writing as “confidential” or “proprietary” by the Disclosing Party at the time of written disclosure, and
(c) all information that is orally designated as “confidential” or “proprietary” by the Disclosing Party at the time of oral disclosure and is confirmed to be “confidential” or “proprietary” in writing
within 10 days after oral disclosure. The obligations of this Section 9.07 shall not apply as to any portion of the Confidential Information that: (i) is or becomes generally available to the public other than from disclosure by the
Receiving Party, its Representatives or its Affiliates; (ii) is or becomes available to the Receiving Party or its Representatives or its Affiliates on a non-confidential basis from a source other than
the Disclosing Party when the source is not, to the best of the Receiving Party’s knowledge, subject to a confidentiality obligation to the Disclosing Party with respect to such information; (iii) is independently developed by Receiving
Party, its Representatives or its Affiliates, without reference to the Confidential Information as evidenced by written documents; or (iv) is approved for disclosure in writing by the Disclosing Party. 

(b) The Receiving Party agrees, (i) to use the Confidential Information only in connection with this Supply Agreement and permitted
use(s) and maintenance of the Seller Goods, (ii) to take reasonable measures to prevent disclosure of the Confidential Information, except to its Representatives who have a need to know such information for such Party to perform its obligations
under this Supply Agreement or in connection with the permitted use(s) and maintenance of the Seller Goods, and (iii) not to disclose the Confidential Information to a competitor of the Disclosing Party. The Receiving Party further agrees to
obtain a commitment from any recipient of Confidential Information to comply with the terms of this Section 9.07 before disclosing the Confidential Information. 

(c) If the Receiving Party or any of its Affiliates or Representatives is required by Law, legal process or a Governmental Entity to disclose
any Confidential Information, that Party agrees to provide the Disclosing Party with prompt written notice to 

  
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permit the Disclosing Party to seek an appropriate protective order or agency decision or to waive compliance by the Receiving Party with the provisions of this Section 9.07. If, absent the
entry of a protective order or other similar remedy, the Receiving Party is based on the advice of its counsel legally compelled to disclose such Confidential Information, such Party may furnish only that portion of the Confidential Information that
has been legally compelled to be disclosed, and shall exercise its reasonable efforts in good faith to obtain confidential treatment for any Confidential Information so disclosed. 

(d) Upon written request of the Disclosing Party, the Receiving Party shall promptly at its option either: (i) return all Confidential
Information disclosed to it or (ii) destroy (with such destruction certified in writing by the Disclosing Party) all Confidential Information, without retaining any copy thereof, except to the extent retention is necessary for the limited
purpose to enable permitted use(s) and maintenance of the Seller Goods. No such termination of this Supply Agreement or return or destruction of any Confidential Information will affect the confidentiality obligations of the Receiving Party all of
which will continue in effect as provided in this Supply Agreement. 
 (e) No Party shall make any press release or similar public
announcement with respect to this Supply Agreement or any of the matters referred to herein. 
 Section 9.08 Counterparts;
Electronic Transmission of Signatures. This Supply Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, and delivered by means of electronic mail transmission or otherwise, each of
which when so executed and delivered shall be deemed to be an original and all of which when taken together shall constitute one and the same agreement. 

Section 9.09 Survival. The provisions of Article VI, Article VII, Article VIII, and Article IX of this
Supply Agreement shall survive its termination. 
 Section 9.10 Assignment. Neither Buyer nor Seller shall be entitled to assign
this Supply Agreement or any PO that incorporates this Supply Agreement to a third party non-Affiliate without the prior written consent of the other Party. Any assignee of Seller or Buyer shall be bound by
the terms and conditions of this Supply Agreement. 
 Section 9.11 Rules of Construction. Interpretation of this Supply
Agreement shall be governed by the following rules of construction: (a) words in the singular shall be held to include the plural and vice versa, and words of one gender shall be held to include the other gender as the context requires;
(b) references to the terms Article, Section, paragraph and Appendix are references to the Articles, Sections, paragraphs and Appendices of this Supply Agreement unless otherwise specified; (c) the terms “hereof”,
“herein”, “hereby”, “hereto”, and derivative or similar words refer to this entire Supply Agreement, including the Appendices and Exhibits hereto; (d) references to “$” shall mean U.S. dollars;
(e) the word “including” and words of similar import when used in this Supply Agreement shall mean “including without limitation,” unless otherwise specified; (f) the word “or” shall not be exclusive;
(g) references to “written” or “in writing” include in electronic mail form; (h) provisions shall apply, when appropriate, to successive events and transactions; (i) the headings contained in this Supply Agreement are
for reference purposes only and shall not affect in any 

  
 15 

 
way the meaning or interpretation of this Supply Agreement; (j) Seller and Buyer have each participated in the negotiation and drafting of this Supply Agreement and all appendices and if an
ambiguity or question of interpretation should arise, this Supply Agreement shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or burdening either Party by virtue of the authorship of
any of the provisions in any of this Supply Agreement; (k) a reference to any Person includes such Person’s successors and permitted assigns; (l) any reference to “days” means calendar days unless Business Days are expressly
specified; and (m) when calculating the period of time before which, within which or following which any act is to be done or step taken pursuant to this Supply Agreement, the date that is the reference date in calculating such period shall be
excluded, and if the last day of such period is not a Business Day, the period shall end on the next succeeding Business Day. 

Section 9.12 Non-Recourse. No past, present or future director, officer, employee, incorporator, member, partner, stockholder,
Affiliate, agent, attorney or Representative of Seller or Buyer shall have any liability for any obligations or liabilities of such Party under this Supply Agreement of or for any claim based on, in respect of, or by reason of, the transactions
contemplated hereby. 
 Section 9.13 Audit. Seller shall maintain a complete and correct set of records pertaining to expenses
and other reimbursable costs that have been invoiced to the Buyer pursuant to the provision of Seller Goods under this Supply Agreement and compliance with Law (if Seller Goods being procured are in support of a United States government end customer
or an end customer funded in whole or in part by the United States government) applicable to Seller’s performance under this Supply Agreement (the “Records”). Upon the expiration or termination of this Supply Agreement, Buyer
shall have the right, for 12-months from such expiration or termination, upon reasonable prior notice and during normal business hours, at Buyer’s election and expense, to conduct one reasonable audit of
the Records of Seller through an audit conducted by an independent third party auditor. Seller shall take all reasonable measures to ensure the safety of any auditor who is present on its premises. 

Section 9.14 Independent Contractors. The relationship of Seller and Buyer established by this Supply Agreement is that of
independent contractors. 

  
 16 

 IN WITNESS WHEREOF, the Parties have caused this Supply Agreement to be executed on the date
first written above by their respective duly authorized officers. 
  

			
	[SELLER]

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	[BUYER]

 
			
		
	By:	 	  

	Name:	 	
	Title:EX-10.18

 Exhibit 10.18 

Confidential 
 General Electric Company

 41 Farnsworth Street 
 Boston, MA 02210 

RE: Channel Agreement 
 Ladies and Gentlemen: 

This agreement (this “Agreement”) is entered into as of [●], 2017, by and between GENERAL ELECTRIC COMPANY, a
New York corporation (“GE”), and BEAR NEWCO, INC., a Delaware corporation (“Newco” and, together with GE, the “Channel Partners”). 

Reference is hereby made to that certain Non-Competition Agreement, dated the date hereof, by and
between GE and Newco (as amended, restated or otherwise modified from time to time in accordance with the terms thereof, the “Non-Competition Agreement”). Capitalized terms used but not
defined in this Agreement shall have the respective meanings ascribed to them in the Non-Competition Agreement. 

Newco and GE hereby agree as follows: 

1.    Channel Allocation. The Channel Partners hereby agree, subject to the terms and conditions herein, to the
following allocation of certain segments and related strategies (collectively, the “Channels”): 
 a.    For the sale
of gas turbines (other than reciprocating engines, such as Jenbacher and Waukesha and developments thereof), steam turbines, ex-Rateau compressors, and the related services, in each case, as set forth on
Schedule A (collectively, the “Power Channel”), the responsibility for performing as the Leading Party shall be in accordance with Schedule A; 

b.    For the sale of various Industrial Internet of Things software, hardware, hosted services and professional services provided by the
GE Digital business unit (“GE Digital”) from time to time, including the offerings to customers of Predix Platform/APM, Wurldtech services, Intelligent Platform Monitoring Services (Advisory Intelligence), the Meridium Platform APM,
ServiceMax, Brilliant Manufacturing, Gateway Devices, Cyber-security Products (ATP and Opshield) and GlobalCare Support (collectively, the “GE Digital Offerings”) (the “GE Digital Offerings Channel”), the
responsibility for performing as the Leading Party shall be in accordance with Schedule B; 
 c.    For the sale of technological
upgrades and spare parts for the Mark VIe integrated control, protection and monitoring system for generator and mechanical drive applications of gas and steam turbines and its prior models (collectively, the “Legacy Mark VIe”) (the
“Mark VIe Controls Products Upgrade Channel”), the responsibility for performing as the Leading Party shall be in accordance with Schedule C; 

  
 1 

 d.    Newco shall be the Leading Party for the sale of products, parts, equipment, services,
technology and systems listed on Schedule D, to the extent, in each case: (i) such products, parts, equipment, services, technology and systems are (A) sold as an individual item or (B) if sold as part of a Solution
Offering, constitute at least a majority of the aggregate estimated or projected value of such Solution Offering and (ii) Newco can reasonably demonstrate by ordinary course business documents or systems that, as of the Signing Date (A) GE
O&G was engaged in the sale thereof or (B) such products, parts, equipment, services, technology and systems were contemplated or being developed or designed by GE O&G, including, in the case of both clauses (i) and (ii), any
reasonably foreseeable enhancements or extensions thereof, including by further investments therein, provided that such enhancements or extensions thereof, including by further investments therein, continue to fall within the description of the
applicable product, part, equipment, service, technology and system listed on Schedule D (each, an “O&G Products Channel”); 

e.    In the event (i) Newco exercises, prior to the Trigger Date, its right of first offer to purchase all (but not less than all)
of the O&G Contractual Obligations pursuant to Section 3(c) or Section 3(e) of the Non-Competition Agreement or (ii) Newco or GE accepts the applicable Channel Seller’s offer to Sell all (but not
less than all) of the Channel Contractual Obligations pursuant to Section 3 of this Agreement (collectively, the “Competing Products and Services Channel”), the Channel Partners shall negotiate those terms and conditions
of the Channel allocation in respect of the Competing Products and Services Channel to the extent not set forth in the applicable offer notice, in good faith, on an arms’ length basis and consistent with the terms of the applicable offer
notice. 
 2.    Term and Termination. 

a.    Channel Terms: Unless the Channel Partners expressly agree otherwise in an amendment to this Agreement, the term of
(i) each of the Power Channel, GE Digital Offerings Channel, Mark VIe Controls Products Upgrade Channel and O&G Products Channel shall expire on the Trigger Date and (ii) the Competing Products and Services Channel shall be agreed by
the Channel Partners, but in any event, shall expire on or before the Trigger Date. 
 b.    Agreement Term. This Agreement shall
commence on the date hereof and shall terminate automatically upon the expiration of the term of the last Channel remaining in effect. For the avoidance of doubt, and notwithstanding anything to the contrary herein, this Agreement, including each
Channel the term of which has not expired, if any, will terminate immediately on the Trigger Date. 
 c.    Additional Arms’
Length Distribution Arrangements. With respect to any Channel the term of which expires on the Trigger Date but not earlier, prior to the Trigger Date, the Channel Partners shall use their respective good faith efforts to negotiate the terms and
conditions of distribution agreements with respect to each such Channel, subject to applicable Law, for a period commencing on the Trigger Date and ending on the second anniversary of the Trigger Date, consistent with the scope of the applicable
Channel Policy and with arms’ length pricing and other arms’ length terms. 

  
 2 

 3.    Channel Competing Business. 

a.    Unless otherwise agreed by the Channel Partners, with respect to any Channel Competing Business acquired by any member of the GE
Group or Newco Group, as applicable, prior to the Trigger Date, the party who acquired such Channel Competing Business (the “Channel Seller”) shall deliver, as soon as reasonably practicable following the consummation of the
acquisition of such Channel Competing Business by the Channel Seller and before the expiration of the applicable Post-Acquisition Period, an written notice (the “Channel Contractual Obligations Offer Notice”) to the other Channel
Partner hereunder (the “Channel Buyer”) setting forth (i) the list of the Channel Contractual Obligations of such Channel Competing Business then in effect, (ii) the price for all (but not less than all) of such Channel
Contractual Obligations (which such price shall be the fair market value, as reasonably determined by the Channel Seller, taking into consideration, as applicable, the terms upon which the Channel Seller acquired such Channel Competing Business),
and (iii) the applicable Channel or Channels, if any, to which the Channel Products will be allocated under this Agreement. The receipt of the Channel Contractual Obligations Offer Notice by the Channel Buyer shall constitute an exclusive offer
by the Channel Seller to Sell all (but not less than all) of such Channel Contractual Obligations to the Channel Buyer at the price and on the terms as set forth in the Channel Contractual Obligations Offer Notice (the “Channel Contractual
Obligations Offer”). The Channel Contractual Obligations Offer shall remain open and irrevocable for a period of sixty (60) days after receipt of such Channel Contractual Obligations Offer Notice by the Channel Buyer (the
“Channel Contractual Obligations Offer Period”). The Channel Buyer shall have, during the Channel Contractual Obligations Offer Period, reasonable access to such Channel Contractual Obligations, subject to a customary
confidentiality agreement. If the Channel Buyer accepts the Channel Contractual Obligations Offer at any time prior to the expiration of the Channel Contractual Obligations Offer Period by written notice delivered to, and received by, the Channel
Seller, the Channel Partners shall negotiate in good faith, on an arms’ length basis and consistent with the terms of the Channel Contractual Obligations Offer Notice the other terms and conditions (to the extent not otherwise specified in the
Channel Contractual Obligations Offer Notice) of (A) the Sale of all (but not less than all) of such Channel Contractual Obligations by the Channel Seller to the Channel Buyer and (B) the segment strategy of serving the customers’
requirements with respect to all (but not less than all) of the related Channel Products of such Channel Competing Business, it being understood that the Channel Buyer shall be the Leading Party for such Channel, and enter into a definitive
agreement for such Sale as soon as reasonably practicable thereafter. The Channel Seller and the Channel Buyer shall consummate such Sale of all (but not less than all) of such Channel Contractual Obligations by the Channel Seller to the Channel
Buyer as soon as reasonably practicable following the execution of such definitive agreement, and after satisfaction of any applicable Regulatory Conditions. Such Channel Contractual Obligations shall not be subject to the terms and conditions of
this Agreement (including, for avoidance of doubt, the allocation and other provisions set forth in the applicable Channel Policies) until the Channel Seller and the Channel Buyer consummate a Sale of all (but not less than all) of such Channel
Contractual Obligations, and in the event that the Channel Buyer does not notify the Channel Seller in writing of its desire to purchase all (but not less than all) of such Channel Contractual Obligations prior to the expiration of the Channel
Contractual Obligations Offer Period, the terms and conditions of this Agreement shall continue to be inapplicable to such Channel Competing Business and nothing herein shall limit the ability of the Channel Seller to operate such Channel Competing
Business. 

  
 3 

 b.    In the event the Channel Buyer disagrees with the price set forth in the Channel
Contractual Obligations Offer Notice, such price shall be determined in accordance with the provisions set forth in Section 3(d) and Section 3(e) of the Non-Competition Agreement mutatis mutandis, as if
references to the O&G Contractual Obligations were references to the Channel Contractual Obligations.  

4.    Sales Opportunity Commercial Review. 

a.    The Channel Partners hereby agree that each Channel Partner’s respective sales teams for the applicable Channel (the
“Channel Sales Teams”) shall work to identify third party end-user customer bids, tenders, purchase orders or requests for proposal or similar sales opportunities (collectively, “Sales
Opportunities”). The Channel Sales Teams shall meet to discuss the current Sales Opportunities, bidding history, win rate, product offerings of each Channel Partner and other related matters, and review competitive landscape and offerings
to determine if there is a need for more competitive solutions, designs, practice or standard modifications or enhancements. The Channel Sales Teams shall seek to agree with respect to the projects or programs that will be approached by the
Channel Partners individually or jointly. The Channel Sales Teams shall collaborate in order to determine the most effective execution path (including project management, requisition engineering, installation and commissioning support, product
support, and development of operation and maintenance manuals) to offer the most effective solution to the customer and allow one of the Channel Partners to win the Sales Opportunity. Such collaboration shall include leveraging the technology
and experience of each Channel Partner (including prior transactional and other relationship experience that a Channel Partner may have with the given customer), supporting the Leading Party in presenting comprehensive solutions to the customer, and
coordinating all aspects of the development and details (financial, operational and otherwise) associated with each Sales Opportunity. 

b.    Unless otherwise expressly agreed by the Channel Partners, the review of Sales Opportunities shall occur at least once every
calendar quarter. A specific Sales Opportunity may be brought by either Channel Partner for a case-by-case exigent review during such other time as the Channel Partners
may agree. 
 5.    Opportunity Based Exceptions. Except to the extent provided in the applicable Channel Policy,
(a) in the event the Leading Party elects not to participate in any Sales Opportunity or recognizes, in its reasonable discretion, that the other Channel Partner has a more competitive offering (including price and other commercial
considerations such as vendor list requirements, delivery, performance and other technical specifications, including form, fit and function), superior technological expertise or better access to the opportunity, (b) in the event of a change in
customer business relationship of the Leading Party that adversely affects such Channel Partner’s ability to continue as the Leading Party, or (c) if during the pre-bid phase, the end-user customer is not interested in a package or solution (whether sold in one or more individual contracts) offered by the Leading Party, or if a package offer made (whether in one or more individual contracts)
proves not competitive but the customer is still interested in a “specific product only” bid by a member of the GE Group or a member of the Newco Group, as applicable, then, in each case, the Leading Party shall negotiate in good faith the
transfer of such Sales Opportunity to the Channel Partner best positioned to succeed in such Sales Opportunity and the sale of the related products, parts, equipment, services, technology and systems. The leaders of the Channel Sales Teams for the
applicable Channel of each Channel Partner shall agree in writing (including by email or otherwise) and coordinate on such transfer. 

  
 4 

 6.    Proposal Responsibility and Support. Except to the extent
provided in the applicable Channel Policy hereto, the Leading Party shall be responsible for the preparation and the content of all budgetary and firm proposals and/or bids in respect of a Sales Opportunity issued by it. To the extent not
specifically agreed by the Channel Partners pursuant to a purchase order under the Supply Agreement, if applicable, or provided in the applicable Channel Policy hereto, the applicable Channel Sales Teams shall negotiate in good faith the terms of
necessary performance guarantees, subcontracting scope, product development and adaptation required by the applicable Sales Opportunity, which such terms shall be agreed based on such specific Sales Opportunity. 

7.    Cooperation and Consultation. 

a.    Each Channel Partner (represented by the applicable Senior Sales Leaders) shall continue to monitor the Channel allocations set forth
in this Agreement to respond to changes in external and internal environments to best position the Channel Partners in respect of each Channel to effectively serve customers’ requirements. The Channel Partners expect the Channel allocations to
be as dynamic as necessary to respond to the changed circumstances, including the following: (i) technological development of the product offerings or additional product offerings of the Channel Partners, including which business funded and has
taken the risk for the development of the new technology; (ii) external changes in the either Channel Partner’s segment and their impact on the then current Channels; (iii) changes in either Channel Partner’s business models;
(iv) changes and transformations in customer business lines and focus; (v) acquisitions and divestitures of the applicable Channel Partner; (vi) cost efficiencies; (vii) change in the support infrastructure of a Channel Partner
in respect of a Channel offering or allocation; and (viii) the preferred approach to be competitive and meeting customer objectives. 

b.    Without prejudice to the terms of the Non-Competition Agreement, prior to the Trigger Date,
the GE Group and Newco hereby agree to discuss from time to time potential opportunities in the joint pursuit of commercially attractive business initiatives for O&G Products and Services. 

8.    Governance. Except as expressly provided in the applicable Channel Policy: 

a.    The Channel Partners shall establish in respect of each Channel, no later than fifteen (15) days following the Closing Date, and
maintain during the term of each such Channel, a governance council (a “Channel Governance Council”) that will oversee all aspects of the relationship contemplated by such Channel pursuant to this Agreement. With respect to each
Channel, each Channel Partner shall, in respect of such Channel, designate [●] person[s] to serve as members of each such Channel Governance Council, which such persons shall be the respective Marketing or Sales Executives and Product
Leadership Executives (collectively, the “Senior Sales Leaders”) of the GE Group and Newco (provided that such Senior Sales Leaders of Newco shall not be GE appointed executives) in respect of such Channel and will provide
the other Channel Partner with relevant contact information (name, address, telephone number, e-mail address and facsimile number, if any) for such Senior Sales Leaders. Each Channel Partner

  
 5 

 
may, in respect of each Channel, from time to time, substitute another Senior Sales Leader as its designated member of the applicable Channel Governance Council. Notwithstanding the foregoing,
the Channel Partners will use good faith efforts to ensure the continuity in office of their respective members of each Channel Governance Council. 

b.    From time to time, as required, and at mutually agreed locations or telephonically, each Channel Governance Council shall meet to
review the Channel allocations under this Agreement to address any outstanding issues or unresolved disputes arising out of, or related to, the allocation of rights and responsibilities provided for herein. The meetings shall be intended to provide
a mechanism for the exchange of information among the Channel Partners and their representatives and review of various Channel allocation activities. 

c.    The review, approval or disapproval of all decisions by each Channel Governance Council shall be made by unanimous consent of the
members of such Channel Governance Council of each Channel Partner. In addition to coordination of activities to be taken under this Agreement, each Channel Governance Council shall assume any other responsibilities which are mutually agreed upon by
the Channel Partners. 
 d.    Each Channel Governance Council shall have the power to mediate disputes between or among the Senior
Sales Leaders of the GE Group and Newco in respect of the applicable Channel. In the event any Channel Governance Council does not reach agreement with respect to any dispute that requires a resolution, such Channel Governance Council may be
enlarged to include additional members, which such persons shall be P&L VP, CFO Leader, General Manager or Vice President of the members of the GE Group and Newco, in order to reach such resolution. This Agreement or the applicable Channel
Policies shall be amended to reflect such decision, if applicable. 
 e.    Notwithstanding anything in this Agreement to the contrary
(including, without limitation, Sections 4, 5, 7 and 8 hereof), the Channel Partners hereby agree that any action that would both (i) have the effect of adversely modifying Newco’s rights or obligations under this Agreement and
(ii) qualify as a Related Party Transaction at or above the Threshold if such action was between any member of the Company Group, on the one hand, and any member of the GE Group, on the other hand, shall be treated as a Related Party
Transaction at or above the Threshold and shall require the prior written approval of the Conflicts Committee or the authorized designee thereof in accordance with Section 4.5 of the Stockholders Agreement. Capitalized terms used in this
Section 7(e) but not otherwise defined in this Agreement shall have the meanings ascribed to such terms in the Stockholders Agreement. 

9.    Expenses. Each Channel Partner will be responsible for, and will pay, all expenses incurred by such Channel
Partner in connection with the performance of its obligations under this Agreement, except as expressly otherwise agreed by the Channel Partners. 

10.    Intellectual Property. That certain Intellectual Property Cross-License Agreement, dated the date hereof,
between GE and [Newco LLC], as amended from time to time in accordance with the terms thereof (the “IP Cross-License Agreement”) shall govern grants of licenses to Newco of any intellectual property of GE related to the products,
parts, equipment, services, technology and systems listed on Schedule D that is used by GE O&G to manufacture and sell such products, parts, equipment, services, technology and systems as of the Closing Date. 

  
 6 

 11.    Conflicts. In the event of a conflict or inconsistency between
any applicable Channel Policy and the Non-Competition Agreement, to the extent any activity is permitted by the terms of the Non-Competition Agreement to be conducted by
a member of the GE Group but is expressly allocated to Newco pursuant to any Channel Policy, such Channel Policy shall prevail and control to the extent of such conflict or inconsistency. In the event of any other conflict or inconsistency between
this Agreement and the Non-Competition Agreement, the Non-Competition Agreement shall prevail and control in all respects, provided that only the exceptions contained in
Section 2 of the Non-Competition Agreement that are set forth on Schedule E with respect to each Channel set forth thereon shall not apply in this Agreement. Notwithstanding anything contrary
contained in this Agreement, the Parties acknowledge and agree that nothing in the Non-Competition Agreement shall preclude any member of the GE Group from engaging in activities prior to the termination of
this Agreement, to the extent such activities are expressly permitted by the terms of this Agreement, including any amendments or modifications to any Channel Policy or any new Channel Policies (including, for avoidance of doubt, the activities
allocated to the GE Group pursuant to the terms of the Power Channel). 
 12.    Miscellaneous. The provisions of
Section 7.3 (Force Majeure) of the Stockholders Agreement are hereby incorporated into this Agreement mutatis mutandis, as if references to the Stockholders Agreement were references to this Agreement, and the provisions of Sections 5
(Remedies), 6 (Amendment; Waiver), 7 (Assignment; No Third Party Beneficiary), 8 (Dispute Resolution) and 9 (Miscellaneous) of the Non-Competition Agreement are hereby incorporated into this Agreement
mutatis mutandis, as if references to the Non-Competition Agreement were references to this Agreement. 

13.    Definitions. The following capitalized terms used in this Agreement shall have the meaning set forth below:

 “Acquired Channel Competitor” means, with respect to any After-Acquired Business, such After-Acquired Business, or an
Affiliate or a business unit thereof, as applicable, which is primarily engaged in the Channel Competing Business. 

“Affiliate” shall have the meaning ascribed to it in the Stockholders Agreement. 

“Channel Competing Business” means a business that is engaged in the activities allocated to the applicable Channel Buyer by
the terms of the Power Channel, GE Digital Offerings Channel, Mark VIe Controls Products Upgrade Channel, O&G Products Channel or a previously established Competing Products and Services Channel pursuant to this Agreement. 

“Channel Contractual Obligations” means, with respect to an Acquired Channel Competitor, the contractual obligations of the
Channel Competing Business thereof that are applicable to the sale by such Competing Business of all Channel Products (and all of the related infrastructure necessary to perform such contractual obligations, including reasonably allocable cost of
restructuring necessary for, and providing such infrastructure support) in order to serve third party end-user customers’ requirements with respect to all (but not less than all) of the related Channel
Products. 

  
 7 

 “Channel Policies” means Schedule A, Schedule B, Schedule C
and Schedule D, and any other Schedule with respect to a Channel that may become a part of this Agreement. 
 “Channel
Products” means products, parts, equipment, services, technology and systems for use in the applicable Channel Competing Business. 

“Closing” shall have the meaning ascribed to it in the Transaction Agreement. 

“Closing Date” shall have the meaning ascribed to it in the Transaction Agreement. 

“GE O&G” shall have the meaning ascribed to it in the Transaction Agreement. 

“Group” shall have the meaning ascribed to it in the Stockholders Agreement. 

“Leading Party” means the applicable member of the Newco Group or the GE Group that will market to, accept tenders and orders
from, and sell to third-party end-user customers or such other parties identified on Schedule F and otherwise take responsibility for leading the customers’ accounts in accordance with this
Agreement and the applicable Channel Policies. For the avoidance of doubt, no member of the GE Group shall be the Leading Party hereunder with respect to any Channel except (i) to the extent expressly set forth in the applicable Channel Policy,
(ii) otherwise agreed by the Channel Partners subject to Section 8(e) of this Agreement or (iii) with respect to the Competing Products and Services Channel, to the extent GE has accepted Newco’s offer to Sell all (but not less
than all) of the applicable Channel Contractual Obligations pursuant to Section 3 and such Sale has been consummated. 

“Person” shall have the meaning ascribed to it in the Stockholders Agreement. 

“Solution Offering” means the sale of products, parts, equipment, services, technology and systems to third party end-user customers as part of a broader equipment or service solution or system for such customer or as part of a repair, replacement, enhancement or upgrade of such broader solution or system. 

“Stockholders Agreement” means that certain Stockholders Agreement, dated the date hereof, between GE and Newco (as amended,
modified or supplemented from time to time in accordance with its terms). 
 “Subsidiary” shall have the meaning ascribed
to it in the Stockholders Agreement. 
 “Transaction Agreement” that certain Transaction Agreement and Plan of Merger,
dated October 30, 2016, among GE, Baker Hughes Incorporated, Newco and Bear MergerSub, Inc. (as amended, modified or supplemented from time to time in accordance with its terms). 

“Trigger Date” shall have the meaning set forth in the Stockholders Agreement. 

[Signature Pages to Follow] 

  
 8 

 IN WITNESS WHEREOF, the Channel Partners have caused this Agreement to be executed on the date first written
above by their respective duly authorized officers. 
  

			
	GENERAL ELECTRIC COMPANY
		
	By:	 	          

	Name:	 	
	Title:	 	
	
	BEAR NEWCO, INC.
		
	By:	 	              

	Name:	 	
	Title:	 	

 [Signature Page to the Channel Agreement]

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