Document:

EX-10.5

 Exhibit 10.5 

EMPLOYEE MATTERS AGREEMENT 

THIS EMPLOYEE MATTERS AGREEMENT (this “Employee Matters Agreement”) is executed effective as of [—], 2014, by and among GENERAL ELECTRIC COMPANY, a New York corporation (“GE”), GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation (“GECC”) and Synchrony
Financial, a Delaware corporation (the “Company”). 
 Statement of Background Information 

WHEREAS, GE, GECC and the Company have entered into a Master Agreement, dated [—], 2014
(the “Master Agreement”); and 
 WHEREAS, the parties desire to set forth in writing the terms and conditions pursuant to
which this Employee Matters Agreement will operate and thereby supplement the provisions of the Master Agreement. 
 Agreement 

NOW, THEREFORE, in consideration of the promises and mutual covenants set forth in the Master Agreement and herein, and other good and
valuable consideration, and contingent upon the Closing, the parties hereby agree as follows: 
 ARTICLE I 

DEFINITIONS 
 All
capitalized terms used but not defined in this Employee Matters Agreement shall have the meanings ascribed to such terms in the Master Agreement. For purposes of this Employee Matters Agreement, the following capitalized terms shall have the
meanings set forth below: 
 “Bank” shall have the meaning ascribed to such term in Article II hereof. 

“Benefits Transition Date” shall mean the first date on which members of the GE Group cease to beneficially own (excluding
for such purposes shares of Company Common Stock beneficially owned by GE but not for its own account, including (in such exclusion) beneficial ownership which arises by virtue of some entity that is an Affiliate of GE being a sponsor of or advisor
to a mutual or similar fund that beneficially owns shares of Company Common Stock) at least fifty percent (50%) of the outstanding Company Common Stock. 

“COBRA” shall mean the continuation coverage requirements under Section 4980B of the Code and Part 6 of Subtitle B of
Title I of ERISA. 
 “Company” shall have the meaning ascribed to such term in the preamble hereto. 

“Company Employees” shall have the meaning ascribed to such term in Article III hereof. 

 “Company-Facing Position” shall have the meaning ascribed to such term in
Section 8.01 hereof. 
 “Company Plans” shall mean all “employee benefit plans” as defined in
Section 3(3) of ERISA and all other benefit or compensation plans, programs, policies, and arrangements, including worker’s compensation, sponsored by a member of the Company Group and covering the Employees, and shall include, on and
following the Closing Date, the Synchrony 2014 Long-Term Incentive Plan described in Section 5.01 hereof. 
 “Company
Transition Position” shall have the meaning ascribed to such term in Section 8.01 hereof. 
 “Employees”
shall have the meaning ascribed to such term in Article III hereof. 
 “ERISA” shall mean the Employee Retirement Income
Security Act of 1974, as amended from time to time, any successor statute thereto and all applicable regulations thereunder. 

“Employee Liabilities” shall have the meaning ascribed to such term in Article II hereof. 

“Employee Matters Agreement” shall have the meaning ascribed to such term in the preamble hereto, as amended or supplemented
from time to time in accordance with the terms hereof. 
 “Excluded Employee Liabilities” shall have the meaning ascribed to such
term in Article II hereof. 
 “GE” shall have the meaning ascribed to such term in the preamble hereto. 

“GE Plans” shall mean all “employee benefit plans” as defined in Section 3(3) of ERISA and all other benefit
or compensation plans, programs, policies, and arrangements, including workers’ compensation, sponsored by GE or its Affiliate (other than a member of the Company Group) and of which a member of the Company Group is a participating employer,
but shall not include any Company Plan. 
 “GE Retirement Plans” shall mean the GE Pension Plan, GERSP, GE Excess Benefits
Plan and GE Supplementary Pension Plan. 
 “GECC” shall have the meaning ascribed to such term in the preamble hereto. 

“GERSP” shall mean the GE Retirement Savings Plan. 

“India/Philippines Benefits Transition Date” shall mean the Benefits Transition Date, or such later date as may be mutually
agreed to in writing by GE and the Company, but shall in no event be later than the date that is one (1) year after the Benefits Transition Date. 

“International Employees” shall mean Employees who are assigned primarily to operations outside of the United States. 

 “International Plan” shall have the meaning ascribed to such term in
Section 6.05(b) hereof. 
 “Master Agreement” shall have the meaning set forth in the preamble hereto. 

“Restricted Employees” shall have the meaning ascribed to such term in Section 8.04 hereof. 

“Synchrony 2014 Long-Term Incentive Plan” shall have the meaning ascribed to such term in Section 5.01(a) hereof. 

“Synchrony Incentive Compensation Plan” shall have the meaning ascribed to such term in Section 5.01(b) hereof. 

“Synchrony Plan” shall have the meaning ascribed to such term in Section 6.03(a) hereof. 

“Term” shall mean the period commencing on the Closing Date and ending on (i) the Benefits Transition Date or
(ii) in the case of the International Employees located in India and the Philippines, the India/Philippines Benefits Transition Date. 

“U.S. Employees” shall mean Employees who are assigned primarily to operations in the United States. 

ARTICLE II 

ASSUMPTION OF CERTAIN OBLIGATIONS AND LIABILITIES 

Effective as of the Closing Date, the Company shall, or shall cause one of its Affiliates to, assume or retain, as the case may be, any and
all Liabilities (contingent or otherwise) relating to, arising out of, or resulting from the employment or services, or termination of employment or services, of any Person with respect to the Company Business, whether arising before, on or after
the Closing Date, excluding (i) any Liabilities related to the GE Plans unless this Employee Matters Agreement expressly provides for such Liabilities to be assumed by the Company or one of its Affiliates and (ii) any Liabilities solely
attributable to acts or omissions of GE or one of its Affiliates pertaining to payroll or benefits administration (such assumed Liabilities, the “Employee Liabilities” and such excluded Liabilities, the “Excluded Employee
Liabilities”). Notwithstanding the foregoing, GE Capital Retail Bank (the “Bank”) shall not assume any Liabilities under this Employee Matters Agreement. 

ARTICLE III 

EMPLOYMENT 

Section 3.01. Continuation of Employment. As of the Closing Date (or as soon as possible thereafter as permitted by the
Laws of any country other than the United States), (i) the Company shall, or shall cause its applicable Affiliates to, employ all of the employees (including statutory employees) of the Company Group, including all such employees who have
rights of employment on return from any leave or other absence (all such employees hereinafter 

 
referred to as “Company Employees”). For purposes of this Employee Matters Agreement, (i) all Company Employees and (ii) those individuals hired after the Closing Date
and before the Benefits Transition Date or the India/Philippines Benefits Transition Date, as applicable, by the Company Group shall collectively be referred to as “Employees.” 

Section 3.02. Specified Inactive Employees. As of the Benefits Transition Date, GE shall, or shall cause its applicable
Affiliates to, employ each Employee in the United States, Canada or Puerto Rico who is not actively employed immediately prior to the Benefits Transition Date and who has a right of employment on return from any leave or other absence
(“Specified Inactive Employee”). The Company shall, or shall cause its Affiliates to, offer re-instatement or employment as a successor employer to each Specified Inactive Employee promptly upon such Specified Inactive
Employee’s return to active employment. 
 Section 3.03. Corporate Program Rotational Employees. Each Corporate
Program Rotational Employee and each employee of GE or one of its Affiliates participating in any GE or GECC “leadership program” who is engaged in the business of the Company Group on the Benefits Transition Date will complete such
Employee’s rotation with the Company Group as an employee of GE or one of its Affiliates and thereafter will remain an employee of GE or such Affiliate and will cease to provide services to the Company or its Affiliates, unless otherwise
mutually agreed by GE and the Company. 
 ARTICLE IV 

PAYROLL; BENEFITS 

Section 4.01. Payroll. During the Term, for those Employees who are paid through GE’s or one of its Affiliate’s
payroll system immediately prior to the Closing Date, such Employees shall continue to be paid through GE’s or one of its Affiliate’s payroll system. Those Employees who are hired after the Closing Date by the Company Group shall also be
paid through GE’s or one of its Affiliate’s payroll system during the Term. For those Employees with payroll withholding elections (such as those related to income taxes, qualified and non-qualified retirement plans, group health and
welfare plans, etc.) in effect immediately prior to the Closing Date, such Employees’ elections shall remain the same during the Term as such elections were as of the Closing Date, except to the extent an Employee elects (in a manner permitted
to employees and plan participants generally) to change any such election. 
 Section 4.02. GE Plans. During the Term,
for those Employees who are eligible to participate in the GE Plans immediately prior to the Closing Date (or who would become eligible upon meeting certain eligibility requirements or upon satisfaction of any waiting periods under such plans), such
Employees shall continue to be eligible to participate in such GE Plans and any comparable arrangements (but excluding, with respect to new awards, any GE Plan providing for cash or other bonus awards, stock options, stock awards, restricted stock,
other equity-related awards or long-term performance awards, other than the GECC Executive Incentive Compensation Plan as described in Article V hereof). Those Employees who are hired after the Closing Date by the Company Group shall also be
eligible to participate in the applicable GE Plans during the Term upon meeting certain eligibility requirements or upon satisfaction of any waiting periods under such plans. GE or its Affiliate, as the case may be, shall continue to be responsible
for operating and administering the provisions of the GE Plans. 

 Section 4.03. Company Plans. During the Term, for those Employees who are
eligible to participate in the Company Plans immediately prior to the Closing Date (or who would become eligible upon meeting certain eligibility requirements or upon satisfaction of any waiting periods under such plans), such Employees shall
continue to be eligible to participate in such Company Plans. Those Employees who are hired after the Closing Date by the Company Group shall also be eligible to participate in the applicable Company Plans during the Term upon meeting certain
eligibility requirements or upon satisfaction of any waiting periods under such plans. A member of the Company Group shall continue to be responsible for operating and administering the provisions of the Company Plans with support from GE consistent
with past practice. 
 ARTICLE V 

INCENTIVE COMPENSATION 

Section 5.01. Establishment of Company Incentive Plans. 

(a) Establishment of Synchrony 2014 Long-Term Incentive Plan. Effective as of the Closing Date, the Company shall, or shall cause one
of its Affiliates to, establish, adopt and maintain a plan or plans for the benefit of selected Employees providing for cash or other bonus awards, stock options, stock awards, restricted stock, other equity-related awards and long-term performance
awards (collectively, the “Synchrony 2014 Long-Term Incentive Plan”). 
 (b) Establishment of Synchrony Incentive
Compensation Plan. Effective as of the Benefits Transition Date, the Company shall, or shall cause one of its Affiliates to, establish, adopt and maintain a plan or plans for the benefit of selected Employees providing for annual cash or other
bonus awards. 
 Section 5.02. Existing Arrangements. 

(a) Annual Incentive Compensation. The Company or one of its Affiliates will pay a pro rata bonus attributable to the portion of the
calendar year occurring prior to the Benefits Transition Date to eligible Employees who immediately prior to the Benefits Transition Date have participated in the GECC Executive Incentive Compensation Plan subject to the terms and practices of such
plan. Such bonuses shall be paid at the same time at which GE makes bonus payments under the GECC Executive Incentive Compensation Plan to employees of GE. GE shall reimburse the Company promptly for any payments of such foregoing amounts, to the
extent such amounts are related to the Employee’s service to a member of the GE Group, upon the receipt of billing(s) for such amounts. 

(b) GE Stock Options. All GE stock options that are vested and held by Employees as of the Benefits Transition Date will be exercisable
in accordance with the terms of the GE 2007 Long-Term Incentive Plan applicable to dispositions (i.e., until the earlier of (i) the expiration date of the award and (ii) five (5) years from the Benefits Transition Date). All GE stock
options that are unvested and held by Employees as of the Benefits Transition Date will 

 
become fully vested on the Benefits Transition Date and will be exercisable in accordance with the terms of the GE 2007 Long-Term Incentive Plan applicable to dispositions (i.e., until the
earlier of (i) the expiration date of the award and (ii) five (5) years from the Benefits Transition Date). 
 ARTICLE VI

 ADDITIONAL COMPANY COVENANTS 

Section 6.01. Termination of Participation in GE Plans. Except as otherwise specifically provided in this Employee Matters
Agreement, effective as of the Benefits Transition Date (or the India/Philippines Benefits Transition Date, if applicable), all Employees and their dependents will cease any participation in, and any benefit accrual under, each of the GE Plans;
provided, however, that any Employee in the United States, Canada or Puerto Rico who, as of the Benefits Transition Date, has rights of employment on return from any leave or other absence will terminate participation in the GE Plans
effective as of the close of business on the day before such Employee returns to active employment with the Company Group and no further benefits shall accrue under such GE Plans with respect to such Employee or any beneficiary thereof effective as
of such return date. 
 Section 6.02. Terms and Conditions of Employment; Compensation. For a period from the Closing
Date until at least one (1) year (two (2) years for Employees in Canada) following the Benefits Transition Date, and subject to applicable Law (including, for avoidance of any doubt, supervisory or regulatory requirements imposed by a Bank
Regulatory Agency), each Employee shall be entitled to receive while in the employ of the Company Group: (i) at least the same salary, wages, incentive compensation and bonus opportunities and (ii) at least the same (on an aggregate basis)
other material terms and conditions of employment as were provided by the Company Group, or were otherwise applicable, to such Employee immediately prior to the Closing Date. The term “other material terms and conditions” in the preceding
sentence is limited to practices which, if changed or eliminated, could reasonably give rise to a claim for monetary damages under applicable Law or contract. 

Section 6.03. Terms and Conditions of Employment; Benefits. 

(a) Synchrony Plans. Effective as of the Benefits Transition Date, the Company shall, or shall cause one of its Affiliates to,
establish, adopt and maintain for a period of at least one (1) year (two (2) years for Employees in Canada) following the Benefits Transition Date, and subject to applicable Law (including, for avoidance of any doubt, supervisory or
regulatory requirements imposed by a Bank Regulatory Agency), such employee benefits pursuant to plans, programs, policies and arrangements for the Employees that provide benefits to such Employees that have a comparable aggregate value to those
benefits (excluding non-tax-qualified defined benefit pension plans, retiree medical plans, equity awards and the fringe benefits that apply to the Executive Band and above) provided to them pursuant to the GE Plans in effect immediately prior to
the Benefits Transition Date (each such plan, program, policy and arrangement, a “Synchrony Plan”). For avoidance of any doubt, (i) no plan of the types described in Section 5.01 hereof shall be taken into account in
determining whether the Synchrony Plans have a comparable aggregate value and (ii) the Company and its Affiliates shall not be obligated to maintain any defined benefit pension plan. 

 (b) Severance. Notwithstanding anything in this Employee Matters Agreement to the
contrary, and subject to applicable Law (including, for avoidance of any doubt, supervisory or regulatory requirements imposed by a Bank Regulatory Agency), the Company shall, or shall cause one of its Affiliates to, provide severance benefits to
any Employee who is laid off during the one-year period (two-year period for Employees in Canada) following the Benefits Transition Date that are at least as favorable as the severance benefits that would have been paid to such employee pursuant to
the terms of the applicable GE or GECC broad-based severance plan as in effect immediately prior to the Benefits Transition Date, to be calculated, however, on the basis of the Employee’s compensation and continuous service at the time of the
layoff. 
 (c) Past Service Credit. All Employees shall be credited for service with the Company Group, GE, their respective
Affiliates and their respective predecessors on and prior to the Benefits Transition Date under all Synchrony Plans and practices in which they become participants for purposes of eligibility, vesting or calculation of vacation, sick days,
severance, layoff and similar benefits (excluding defined benefit pension benefit accruals) to the extent such service was credited under the corresponding GE Plan and practices. 

(d) Group Health Plans. The Company shall, or shall cause one of its Affiliates to, cause the Synchrony Plans to waive any pre-existing
conditions limitation and recognize expenses incurred by an Employee prior to the Benefits Transition Date for purposes of out-of-pocket maximums and deductibles with respect to the calendar year in which the Benefits Transition Date occurs;
provided, however, that the Company receives all data reasonably necessary to allow the Company to satisfy its obligations under this Section 6.03(d). 

(e) Vacation. Effective as of the Benefits Transition Date, the Company shall, or shall cause one of its Affiliates to, assume or
retain all obligations of GE and its Affiliates for the accrued, unused vacation and paid time off (i.e., personal illness and personal business leave) of all Employees and shall reimburse GE or its Affiliates promptly for any accrued, unused
vacation and paid time off required to be paid by GE or its Affiliates on or after the Benefits Transition Date to any Employee upon the receipt of periodic billings for such amounts. For a period from the Benefits Transition Date until at least
three (3) years following the Benefits Transition Date, each Employee shall be entitled annually to at least the number of vacation days that such Employee was entitled to under the applicable vacation program of GE immediately prior to the
Benefits Transition Date. 
 (f) India/Philippines International Employees. For purposes of this Section 6.03, with respect to
International Employees in India and the Philippines, all references to the “Benefits Transition Date” shall be deemed to refer to the “India/Philippines Benefits Transition Date.” 

 Section 6.04. U.S. Benefits. 

(a) U.S. Retirement Plans. As of the Benefits Transition Date, Employees shall cease to accrue benefits, if any, under the GE
Retirement Plans. Effective as of the Benefits Transition Date, GE shall take all necessary action, if any, to (i) effect such cessation of participation, and (ii) cause the Employees to be fully vested in any GE Retirement Plan (to the
extent not then fully vested), except that with respect to the GE Supplementary Pension Plan and the GE Excess Benefit Plan, GE shall cause each Employee with at least ten (10) years of pension qualified service to be fully vested in such
Employee’s accrued benefits, if any, under the GE Supplementary Pension Plan and/or the GE Excess Benefit Plan. No assets or liabilities with respect to the GE Retirement Plans shall be transferred to the Company as a result of this Employee
Matters Agreement. GE shall pay, or cause to be paid, directly to the Employees (including their surviving spouses and beneficiaries) any vested retirement benefits to which they are entitled under the GE Retirement Plans when eligible to receive
such payments under the terms of such plans. The Company shall reimburse GE promptly for any payments of vested benefits made by GE or its applicable Affiliates under the GE Excess Benefit Plan and the GE Supplemental Pension Plan upon the receipt
of periodic billings for such amounts. 
 (b) U.S. Post-Retirement Welfare Benefits. GE and its applicable Affiliates shall retain
any obligations they may have to provide post-retirement welfare benefits in accordance with the terms of the GE Health Choice Plan and the GE Life, Disability and Medical Plan, as in effect from time to time, to all former Employees of the Company
Group and their eligible dependents who are currently receiving such benefits as of the Benefits Transition Date. In addition, GE and its applicable Affiliates shall remain obligated to provide such coverage, consistent with the terms of the GE
Health Choice Plan and the GE Life, Disability and Medical Plan as in effect from time to time, to all Employees and their eligible dependents who, as of the Benefits Transition Date, are participants in such plans and either (i) have completed
twenty-five (25) years of continuous service or pension qualified service with the Company Group, its Affiliates and their respective predecessors or (ii) have attained at least sixty (60) years of age and have completed at least ten
(10) years of continuous service, in either case upon such Employees’ election to participate in the GE Health Choice Plan or the GE Life, Disability and Medical Plan. Such participation shall be under circumstances and at the applicable
contribution levels entitling them to receive such benefits pursuant to the terms of the GE Health Choice Plan or the GE Life, Disability and Medical Plan, as applicable, as in effect from time to time. The Company shall reimburse GE promptly for
any payments of post-retirement welfare benefits made by GE or its applicable Affiliates to the eligible Employees and their eligible dependents pursuant to such coverage upon the receipt of periodic billings for such amounts. 

(c) COBRA. Following the Benefits Transition Date, the Company shall, or shall cause one of its Affiliates to, provide continuation
health care coverage to all U.S. Employees and their qualified beneficiaries who incur or incurred a qualifying event in accordance with COBRA at any time with respect to claims incurred on or after the Benefits Transition Date. 

(d) Flexible Spending Account Plan. With respect to any U.S. Employee who, immediately prior to the Benefits Transition Date, was a
participant in a general purpose health flexible spending account plan and/or a dependent care flexible spending account plan, in 

 
each case, maintained by GE or one of its Affiliates (collectively, the “GE FSA Plans”), the Company shall, or shall cause one of its Affiliates to, affect an FSA Transfer (as
defined below) of the U.S. Employee’s account (if any) under the GE FSA Plans to the general purpose health flexible spending account plan and/or dependent care flexible spending account plan, as applicable, of the Company or one of its
Affiliates. For purposes of this section, a “FSA Transfer” involves the Company or one of its Affiliates (i) effectuating the election of the U.S. Employee in effect under the applicable GE FSA Plans immediately prior to the Benefits
Transition Date and (ii) assuming responsibility for administering and paying under the applicable plans of the Company or one of its Affiliates all eligible reimbursement claims of the U.S. Employee incurred in the calendar year in which the
Benefits Transition Date occurs, whether such claims arose before, on or after the Benefits Transition Date. As soon as practicable following the Benefits Transition Date, GE shall cause to be transferred to the Company an amount in cash equal to
(i) the sum of all contributions to the applicable GE FSA Plans made with respect to the calendar year in which the Benefits Transition Date occurs by or on behalf of the U.S. Employee prior to the Benefits Transition Date, reduced by
(ii) the sum of all claims incurred by the U.S. Employee under the applicable GE FSA Plans in the calendar year in which the Benefits Transition Date occurs that are submitted for payment prior to the Benefits Transition Date. 

(e) U.S. Other Welfare Benefits. Except as otherwise expressly provided in this Employee Matters Agreement, GE or one of its Affiliates
shall retain responsibility under the GE Plans that are welfare benefit plans in which the Employees participate with respect to all amounts that are payable by reason of, or in connection with, any and all welfare benefit claims made by the
Employees and their eligible dependents but only to the extent such claims were incurred prior to the Benefits Transition Date. However, the Company shall reimburse GE promptly for (i) (A) any payments of welfare benefits made by GE or one
of its Affiliates on or after the Benefits Transition Date to eligible Employees and their eligible dependents pursuant to any self-insured GE Plans with respect to claims incurred prior to the Benefits Transition Date or (B) any payments of
welfare benefits made by GE or one of its Affiliates on or after the Benefits Transition Date to eligible Employees who are inactive as of the Benefits Transition Date and their eligible dependents pursuant to any self-insured GE Plans with respect
to claims incurred prior to such Employees’ return to active employment with the Company Group, and (ii) any payments of premiums made by GE or one of its Affiliates on behalf of eligible Employees who are inactive as of the Benefits
Transition Date and their eligible dependents pursuant to any insured GE Plans with respect to coverage ending the day before such Employees’ return to active employment with the Company Group, in each case upon the receipt of periodic billings
for such amounts. The Company and its Affiliates shall be otherwise responsible for welfare benefit claims made by the Employees and their eligible dependents to the extent such claims were incurred on or after the Benefits Transition Date. 

Section 6.05. International Benefits. 

(a) International Employees. In the case of the International Employees, the Company shall, and shall cause its Affiliates to, comply
with any applicable foreign Law governing the terms and conditions of their employment, employment practices or severance of employment. 

 (b) Continuation of International Company Plans. If an employee benefit plan, program,
policy or arrangement is subject to the Laws of a country other than the United States (an “International Plan”) and covers only International Employees, the Company shall, or shall cause one of its Affiliates to, assume or
continue, as the case may be, sponsorship over and assumption of all obligations with respect to such International Plan as of the Benefits Transition Date. 

(c) International Retirement Plans. To the extent that any International Plan sponsored by GE or its Affiliate (other than a member of
the Company Group) is a funded defined benefit or defined contribution pension plan with assets residing in a trust or other funding vehicle, GE shall retain all assets and liabilities with respect to such Employees and their eligible dependents and
beneficiaries. To the extent that any International Plan sponsored by GE or its Affiliates is a defined benefit or defined contribution plan that has no assets set aside in a trust or other funding vehicle to fund the plan, the Company shall assume
or shall cause its Affiliates to assume all liabilities with respect to such Employees and their eligible dependents and beneficiaries. 

(d) Reimbursement for Severance Payments. In the event that any severance or similar payment is triggered to an International Employee
under a GE Plan due to the Company’s failure to satisfy its obligations under this Employee Matters Agreement or applicable Law, then the Company shall reimburse GE promptly for any payments of such foregoing amounts upon the receipt of
billing(s) for such amounts. 
 Section 6.06. No Guarantee of Continued Employment. Neither the Company nor any of its
Affiliates shall be obligated to continue to employ any Employee for any specific period of time, subject to applicable Law. 

Section 6.07. Claims Assistance. The Company shall, and shall cause each member of the Company Group to, cause Employees to
provide such assistance to GE and its Affiliates as may be required in respect of claims against GE or its Affiliates, whether asserted or threatened, to the extent that, in GE’s opinion, (a) an Employee has knowledge of relevant facts or
issues, or (b) an Employee’s assistance is reasonably necessary in respect of any such claim. GE shall, and shall cause each member of the GE Group to, cause its employees to provide such assistance to the Company and its Affiliates as may
be required in respect of claims against the Company or its Affiliates, whether asserted or threatened, to the extent that, in the Company’s opinion, (a) an employee of GE or the GE Group has knowledge of relevant facts or issues, or
(b) the assistance of an employee of GE or the GE Group is reasonably necessary in respect of any such claim. 
 ARTICLE VII 

PERFORMANCE AND COOPERATION 

Section 7.01. Level of Performance. In performing its obligations under this Employee Matters Agreement, each of GE and the
Company agrees that it and its respective Affiliates, as applicable, shall in good faith exercise the same standard of care as each has used to perform such services for its own account and for its other employees, except as mutually agreed to in
writing by GE and the Company. 

 Section 7.02. Delivery of Information; Cooperation Between the Parties. GE and
the Company shall, and shall cause their respective Affiliates to, provide each other with all such information and materials reasonably necessary to effect GE’s and the Company’s prompt and complete performance of their duties and
obligations under this Employee Matters Agreement and the GE Plans. The parties agree that they shall cooperate with each other and shall act in such a manner as to promote the prompt and efficient completion of the obligations hereunder. 

ARTICLE VIII 

NON-HIRE; NON-SOLICITATION 

Section 8.01. Non-Hire and Non-Solicitation by the Company Group. No member of the Company Group will either directly or
indirectly, on its own behalf or in the service of or on behalf of others, hire, or attempt to hire or induce or attempt to induce to leave the employ of any member of the GE Group: 

(a) through the Trigger Date, 

(i) without the approval of GE, any employee of any member of the GE Group who 

(A) occupies (or occupied) a position assigned to the Executive Band or above, 

(B) in any capacity on or after the date that is one (1) year before the Closing Date, worked on matters supporting or
relating to the Company, provided services to the Company, had supervisory responsibility over the Company or otherwise had significant interaction with or oversight over the Company or aspects of the Company’s business, it being understood
that all risk and regulatory personnel at GECC in the U.S. and Canada are included in this group (a “Company-Facing Position”); or 

(C) worked on the transition support team or provided transition support services to the Company (a “Company
Transition Position”); 
 (ii) without first consulting with GE, any other employee of any member of the GE Group; 

(b) through the eighteen (18) month anniversary of the Trigger Date, without the approval of GE, any employee of any member of the GE
Group who occupies (or occupied) a position assigned to the Senior Professional Band or higher with GE and, in any capacity on or after the date that is one (1) year before the Closing Date, held a Company-Facing Position or a Company
Transition Position; and 

 (c) through the twelve (12) month anniversary of the Trigger Date, without the approval of
GE, any employee of any member of the GE Group who occupies (or occupied) a position assigned to the Leadership Professional Band or lower with GE and, in any capacity on or after the date that is one (1) year before the Closing Date, held a
Company-Facing Position or a Company Transition Position. 
 Section 8.02. Non-Hire and Non-Solicitation by the GE Group.
No member of the GE Group will either directly or indirectly, on its own behalf or in the service of or on behalf of others, hire, or attempt to hire or induce or attempt to induce to leave the employ of any member of the Company Group: 

(a) through the Trigger Date, without the approval of the Company, any employee of a member of the Company Group; 

(b) through the eighteen (18) month anniversary of the Trigger Date, without the approval of the Company, any employee of a member of the
Company Group who occupies (or occupied) a position assigned to the Senior Professional Band or higher with GE or the Company; and 
 (c)
through the twelve (12) month anniversary of the Trigger Date, without the approval of the Company, any employee of a member of the Company Group who occupies (or occupied) an IT, regulatory, risk or finance position assigned to the Leadership
Professional Band with GE or the Company. 
 Section 8.03. Former Employees. For purposes of Sections 8.01 and 8.02, a
person shall be considered an employee of a member of the Company Group or a member of the GE Group if he or she was employed by such an entity on November 15, 2013 or later provided that Sections 8.01 and 8.02 shall cease to apply to any
individual (i) whose employment was involuntary terminated by such group, immediately upon such termination, or (ii) who voluntarily terminated employment with such group, from and after the twelve (12) month anniversary of such
termination.
 Section 8.04. General Solicitations. Notwithstanding the limitations in Sections 8.01 and 8.02, no member
of the GE Group or the Company Group shall be prohibited from placing public advertisements or conducting any other form of general solicitation that is not specifically targeted towards the employees covered by Sections 8.01 and 8.02, including,
but not limited to, the use of an independent employment agency or search firm whose efforts are not specifically directed at such an employee. 

ARTICLE IX 

MISCELLANEOUS 

Section 9.01. Headings. The headings contained herein are for reference purposes only and shall not affect in any way the
meaning or interpretation of this Employee Matters Agreement. 

 Section 9.02. Counterparts. This Employee Matters Agreement may be executed in
one or more counterparts, and by the different parties to each such agreement in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement.
Delivery of an executed counterpart of a signature page to this Employee Matters Agreement by facsimile shall be as effective as delivery of a manually executed counterpart of any such Employee Matters Agreement. 

Section 9.03. Assignment; No Third-Party Beneficiaries. This Employee Matters Agreement shall not be assigned by any party
hereto without the prior written consent of the other parties hereto. This Employee Matters Agreement is for the sole benefit of the parties to this Employee Matters Agreement and their permitted successors and assigns and nothing in this Employee
Matters Agreement, express or implied, is intended to or shall confer upon any other Person or entity any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Employee Matters Agreement. 

Section 9.04. Amendment. No provision of this Employee Matters Agreement may be amended or modified except by a written
instrument signed by all the parties to such agreement. No waiver by any party of any provision hereof shall be effective unless explicitly set forth in writing and executed by the party so waiving. The waiver by either party hereto of a breach of
any provision of this Employee Matters Agreement shall not operate or be construed as a waiver of any other subsequent breach. 

Section 9.05. Severability. If any term or other provision of this Employee Matters Agreement is invalid, illegal or
incapable of being enforced under any Law or as a matter of public policy, all other conditions and provisions of this Employee Matters Agreement shall nevertheless remain in full force and effect. Upon such determination that any term or other
provision is invalid, illegal or incapable of being enforced, the parties to this Employee Matters Agreement shall negotiate in good faith to modify this Employee Matters Agreement so as to effect the original intent of the parties as closely as
possible in a mutually acceptable manner in order that the transactions contemplated by this Employee Matters Agreement be consummated as originally contemplated to the greatest extent possible. 

Section 9.06. Entire Agreement. 

(a) Except as otherwise expressly provided in this Employee Matters Agreement, this Employee Matters Agreement constitutes the entire
agreement of the parties hereto with respect to the subject matter of this Employee Matters Agreement and supersedes all prior agreements and undertakings, both written and oral, between or on behalf of the parties hereto with respect to the subject
matter of this Employee Matters Agreement. 
 (b) In addition to the responsibilities and obligations set forth herein the parties to the
Transition Services Agreement shall have certain other employment-related responsibilities and obligations as set forth therein. 

Section 9.07. Coordination with Master Agreement. The following articles and sections from the Master Agreement are hereby
incorporated by reference as if fully set forth 

 
herein: Section 7.2 (Confidentiality); Section 7.4 (Allocation of Costs and Expenses); Article IX (Dispute Resolution); 10.2 (Governing Law); Section 10.4 (Force Majeure); and
Section 10.5 (Notices). 

 IN WITNESS WHEREOF, each of the parties hereto has caused this Employee Matters Agreement to be
signed as of the date first above written. 
  

			
	GENERAL ELECTRIC COMPANY
		
	By:	 	  

		 	Name:
		 	Title:
	
	GENERAL ELECTRIC CAPITAL CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:
	
	SYNCHRONY FINANCIAL
		
	By:	 	  

		 	Name:
		 	Title:EX-10.6

 Exhibit 10.6 

TRANSITIONAL TRADEMARK LICENSE AGREEMENT 

THIS TRANSITIONAL TRADEMARK LICENSE AGREEMENT (this “Agreement”), dated as of
            , 2014 (the “Effective Date”), is made and entered into by and between GE Capital Registry, Inc. (“Licensor”) and Synchrony Financial
(“Company”). 
 WHEREAS, General Electric Company (“GE”), General Electric Capital Corporation
(“GECC”) and Company previously entered into that certain Master Agreement, dated             , 2014 (as amended, modified or supplemented from time to time in accordance
with its terms, the “Master Agreement”); 
 WHEREAS, the Master Agreement requires the execution and delivery of this
Agreement by the Parties as of the Effective Date; 
 WHEREAS, GE, the parent of Licensor, owns the Licensed Marks (as defined below) and
holds registrations thereof in various countries of the world for various products and services, and has granted Licensor the right to sublicense the Licensed Marks; 

WHEREAS, Licensor has the right to grant the licenses granted in this Agreement to Licensee (as defined below); 

WHEREAS, the Licensed Marks constitute valuable rights owned and used by GE in conducting its and its Affiliates’ business and
designating the origin or sponsorship of its and its Affiliates’ distinctive products and services; 
 WHEREAS, Licensor desires to
enhance and protect the goodwill of the Licensed Marks and to preserve GE’s and its Affiliates’ right to label products with and associate services with the Licensed Marks so as to avoid consumer confusion; 

WHEREAS, Licensee and Licensor agree that certain rules regarding Licensee’s use of the Licensed Marks are necessary to enhance and
protect the goodwill of the Licensed Marks, and to ensure that Licensor’s rights in the Licensed Marks are preserved; and 
 WHEREAS,
in connection with the transactions contemplated by the Master Agreement, Licensor desires to grant to Licensee a license to use the Licensed Marks in accordance with the terms, and subject to the conditions, set forth herein. 

NOW, THEREFORE, in consideration of the mutual covenants contained herein and for other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, Licensor and Company, intending to be legally bound, hereby agree as follows: 
 1. DEFINITIONS

 Unless otherwise defined herein, all capitalized terms used herein shall have the meanings ascribed to such terms in the Master
Agreement. The following capitalized terms as used in this Agreement have the meanings set forth in this Article 1: 

 A. “Commercialize” means (i) with respect to products, to develop,
design, offer, distribute, sell and/or otherwise commercialize and (ii) with respect to services, to perform, offer, distribute, render, sell and/or otherwise commercialize. 

B. “Licensed Marks” means and is limited to (i) the Specified GE Marks and (ii) the Licensed Tagline. 

C. “Licensed Tagline” means the phrase “Built from GE Heritage”, but only all of the words “Built from
GE Heritage” used in that order. 
 D. “Licensee” means collectively Company and the Permitted
Sublicensees/Assignees. 
 E. “License Territory” means the jurisdictions set forth on Exhibit B attached
hereto. 
 F. “New Products and Services” means all products and services not being actively Commercialized as of the
Effective Date that are first Commercialized by Licensee within six (6) months after the Effective Date utilizing the Licensed Marks and (i) are of a quality that is equal to or better than the Products and Services offered by GECC and its
Affiliates (including Company and its Subsidiaries) in the conduct of the Company Business prior to the Effective Date, (ii) are intended for the same or substantially similar purpose and application as such Products and Services, and
(iii) are not any of the Products and Services listed in Exhibit C attached hereto; provided that, to the extent such products or services are not natural extensions of Products and Services, such products and services shall be approved
by the Company Board. 
 G. “Party” means Licensor and Company individually, and “Parties” means
Licensor and Company collectively. 
 H. “Permitted Assignees” means Company’s direct and indirect wholly-owned
Subsidiaries to which this Agreement has been assigned under Section 9.A. 
 I. “Permitted Sublicensees”
means Company’s direct and indirect wholly-owned Subsidiaries which have been granted a sublicense under Section 2.C. 

J. “Permitted Sublicensees/Assignees” means Permitted Sublicensees and/or Permitted Assignees, as the context requires.

 K. “Products” and “Services” mean, respectively, (i) products and services Commercialized
prior to the Effective Date by GECC and its Affiliates (including Company and its Subsidiaries) in the conduct of the Company Business, (ii) products and services listed in Exhibit C attached hereto, and (iii) New Products and
Services subject to the approval of Licensor as set forth in Section 3.A. 
 L. “Specified GE Marks”
means the Marks listed and referenced in Exhibit A attached hereto alone and in such combinations with other words, phrases and logos that are (a) in use by GECC and its Affiliates in the conduct of the Company Business as of the
Effective Date and (b) in conformance with the Usage Guidelines (unless otherwise approved in writing by Licensor). 

  
 2 

 M. “Standards of Quality” means at least the same high standards of
quality, appearance, service and other standards that are observed immediately prior to the Effective Date by GECC and its Affiliates in the Commercialization, advertising, marketing and promotion of Products sold and Services rendered immediately
prior to or as of the Effective Date, provided that the foregoing standards shall be no less than the standards that Licensee observes in its Commercialization, advertising, marketing and promotion from time to time of any products and services
similar to the Products and Services. 
 N. “Transitional Services Agreement” means that certain Transitional
Services Agreement entered into by and between GECC and the Company, dated             , 2014 (as amended, modified or supplemented from time to time). 

O. “Trigger Date” means the first date on which members of the GE Group cease to beneficially own (excluding for such
purposes shares of Company Common Stock beneficially owned by GE but not for its own account, including (in such exclusion) beneficial ownership which arises by virtue of some entity that is an Affiliate of GE being a sponsor of or advisor to a
mutual or similar fund that beneficially owns shares of Company Common Stock) more than fifty percent (50%) of the outstanding Company Common Stock. 

P. “Usage Guidelines” means Licensor’s guidelines for use of the Licensed Marks as may be provided and amended
from time to time by Licensor in its sole discretion, including the General Electric Company’s Brand Identity Guidelines (www.gebrandcentral.com/brand/design_library/); provided, however, that such guidelines shall not be more
onerous than those which apply to use of the Licensed Marks by GE and its Affiliates in connection with products or services that are similar to the Products and Services. 

2. LICENSE GRANT 
 A.
Grants. 
 1. Subject to the terms and conditions of this Agreement, Licensor hereby grants to Company a worldwide,
non-exclusive, non-transferable, non-assignable (other than to Permitted Assignees as expressly provided in Section 9.A), royalty-free, fully paid up license, with no right to sublicense (other than to Permitted Sublicensees as expressly
provided in Section 2.C), for a period not to exceed the Term, or such longer time periods as set forth in Exhibit D corresponding to each item thereon (each, a “Maximum License Term”), and only in the License
Territory to use the Specified GE Marks only in connection with Products and Services Commercialized by Company and its Permitted Sublicensees/Assignees in the form in which such Specified GE Marks were applied to such materials prior to the
Effective Date; provided, however, that Company shall use reasonable efforts to cease and discontinue use of such Specified GE Marks as soon as practicable after the Effective Date; and provided, further, that in each
case, all such Specified GE Marks shall be removed from such applicable items following the end of the applicable Maximum License Term (except to identify Products and Services 

  
 3 

 
bearing such Licensed Marks, in which case such identification may be made through the Term subject to the terms and conditions of this Agreement). All such use shall be in strict accordance with
the Standards of Quality and otherwise in accordance with the terms and conditions of this Agreement. 
 2. Subject to the terms and
conditions of this Agreement, Licensor hereby grants to Company a worldwide, non-exclusive, non-transferable, non-assignable (other than to Permitted Assignees as expressly provided in Section 9.A), royalty-free, fully paid up license,
with no right to sublicense (other than to Permitted Sublicensees as expressly provided in Section 2.C), for a period not to exceed three (3) years after the Trigger Date and only in the License Territory to use, subject to
Licensor’s prior written approval prior to each type of use (which approval process is described in Section 2.B below), the Licensed Tagline in connection with (i) the Products and Services Commercialized by Company and its
Permitted Sublicensees/Assignees or (ii) the general promotion of the Company Business, in each case in strict accordance with the Standards of Quality and otherwise in accordance with the terms and conditions of this Agreement. 

B. License Limitations; Approval Process. The foregoing license to use (i) the Specified GE Marks is limited to use on or
in connection with the Products or Services only (including any advertising, display, promotional copy, and other associated materials bearing such Licensed Marks that are in the form used prior to the Effective Date or otherwise approved in advance
of their use by Licensor (which approval process is described below)) and (ii) the Licensed Tagline is limited to use on or in connection with the Products or Services or in the general promotion of the Company Business only. Company shall not,
and shall cause its Subsidiaries not to, except as specifically permitted in this Agreement or approved in advance by Licensor, use the Licensed Marks or give consent to the use of the Licensed Marks to any other Person in any manner. In connection
with any proposed use of the Specified GE Marks or Licensed Tagline that requires Licensor’s prior approval pursuant to the foregoing Section 2.A.2 or subpart (i) of this Section, Licensee shall provide Licensor with prior
written notice of such proposed use and Licensor shall thereafter have thirty (30) days to approve or reject such use. If Licensor fails to respond within that thirty (30) day period, Licensee may send Licensor a reminder notice in writing
(with a copy to Weil, Gotshal & Manges LLP as set forth in Section 9.D) and, if Licensor fails to respond to such reminder notice within thirty (30) days of receiving such reminder notice, such submission shall be deemed
approved by Licensor. If Licensor rejects any such proposed use, the Licensed Marks and any materials bearing the Licensed Marks may not be used or disseminated unless the Licensed Marks are entirely removed therefrom. 

C. Permitted Sublicenses. Company may grant sublicenses of the rights and licenses granted under Sections 2.A.1 and
2.A.2 to a direct or indirect wholly-owned Subsidiary, which Subsidiary has executed an agreement to be bound by all obligations of Company and/or Licensee under this Agreement relating to such right and license and providing Licensor
standing to enforce the terms and conditions of this Agreement without joinder of Company. Company shall promptly provide a copy of such agreement to Licensor. Company shall cause the Permitted Sublicensees to comply with the terms and conditions of
this Agreement. 

  
 4 

 D. Reservation of Rights. Any rights not granted to Licensee in this Agreement are
specifically reserved by and for Licensor, GE and their Affiliates. Except as expressly provided in Sections 2.A, 2.B and 2.C, no licenses or other rights are implied or granted by estoppel or otherwise. Company hereby accepts,
and shall cause its Permitted Sublicensees/Assignees to accept, this grant of license subject to the terms and conditions set forth in this Agreement. 

3. NEW PRODUCTS AND SERVICES 

A. The grant of a license to use the Licensed Marks in connection with all New Products and Services is subject to the advance written
approval of Licensor as to quality, purpose, and application, such approval not to be unreasonably withheld if such New Products and Services meet the Standards of Quality. For the avoidance of doubt, nothing in this Agreement shall be construed as
requiring approval by Licensor of Licensee’s Commercialization of products or services that do not utilize the Licensed Marks. 
 B.
Licensee shall submit representative samples of all New Products and Services to Licensor at the address specified in Section 9.D or such other address as specified by Licensor. Licensor shall thereafter have thirty (30) days to
approve or reject each such New Product or Service. If Licensor fails to respond within such thirty (30) day period, Licensee may remind Licensor in writing and, if Licensor fails to respond to such reminder within ten (10) days of
receiving such reminder, such submission shall be deemed disapproved by Licensor. No New Product or Service may be sold under or in connection with a Licensed Mark prior to receipt of written approval from Licensor. 

C. On the date that is six (6) months after the Effective Date, Licensee shall provide to Licensor a complete and accurate list of
all New Products and Services existing as of such date in accordance with this Agreement. 
 4. EXAMINATION OF PRODUCTS AND
SERVICES 
 A. Licensor shall have the right to supervise and control the use of the Licensed Marks by Licensee with respect to
the nature and quality of the Products and Services Commercialized by Licensee and the materials used to advertise, market and promote such Products and Services for the purpose of protecting and maintaining the goodwill associated with the Licensed
Marks and the reputation of Licensor, GE and their Affiliates. The Steering Committee (as defined in the Transitional Services Agreement) shall monitor the progress of Licensee in ceasing use of the Licensed Marks by Licensee pursuant to the time
periods for each media set forth in Exhibit D hereto, as if each media of use in Exhibit D were a Transitional Arrangement (as defined in the Transitional Services Agreement). All Products and Services (including New Products and Services and all
such materials using the Licensed Marks) shall meet all requirements as set forth in Articles 2 and 3 herein and shall comply with all applicable Laws (collectively, the “Applicable Standards”). For the avoidance of
doubt, nothing in this Section 4.A shall be construed as providing the Licensor with authority over any aspect of the Products and Services other than the use of the Licensed Marks in connection with the Products and Services. 

  
 5 

 B. Licensor shall have the right to obtain from Licensee, at any time during the Term upon
reasonable notice, reasonable information as to the nature and quality of the Products and Services and advertising, marketing and promotional materials therefor using the Licensed Marks and the manner in which the Licensed Marks are used in
connection with the Products, Services or such materials. 
 C. If Licensor notifies Licensee that it has a bona fide belief that the
Products or Services or the use of the Licensed Marks are not in conformance with the requirements of this Agreement: (i) Licensor and its authorized representatives shall, upon reasonable notice to Licensee, have the right to visit the offices
and facilities of Licensee where Products, Services or such materials using the Licensed Marks are Commercialized, advertised, marketed, or promoted in order to conduct a reasonable inspection and examination of such offices and facilities solely
for the purpose of determining compliance with this Agreement, provided that the right to have such visits, inspections and examinations shall be exercised in such manner and at such times so as not to interfere unreasonably with the business or
operations of the Licensee; (ii) upon Licensor’s reasonable request, Licensee shall furnish Licensor representative samples of all Products to which the Licensed Marks are affixed and representative samples showing all other uses of the
Licensed Marks by Licensee; and (iii) upon Licensor’s reasonable request, and upon reasonable notice, Licensee shall permit Licensor to promptly examine and audit documents, books and records pertaining specifically to the
Commercialization, servicing, quality, performance, and other characteristics of Products and Services as Licensor may reasonably require to verify that all Products and Services using the Licensed Marks and all advertising, marketing and
promotional materials therefor meet the Standards of Quality and that Licensee’s use of the Licensed Marks complies with Licensee’s obligations under this Agreement. In conducting any such inspection or audit under this
Section 4.C, Licensor shall take all steps reasonably required by Licensee to minimize disruption to Licensee’s business and to avoid disclosure of Licensee’s confidential and proprietary information and materials, including
executing reasonable nondisclosure agreements, provided that such steps and agreements shall not prevent Licensor from pursuing any claims that it may have in connection with this Agreement. Licensee shall submit representative samples of all
marketing, advertising and promotional material not in use as of the Effective Date incorporating the Licensed Marks (“New Promotional Materials”) (including packaging for Products) to Licensor at the address specified in
Section 9.D or such other address as specified by Licensor. Licensor shall thereafter have thirty (30) days to approve or reject each such New Promotional Material; provided that Licensor shall only reject such New Promotional
Material if Licensor reasonably believes that such New Promotional Material does not comply with this Agreement and the Standards of Quality. If Licensor fails to respond within that thirty (30) day period, Licensee may send Licensor a reminder
notice in writing (with a copy to Weil, Gotshal & Manges LLP as set forth in Section 9.D) and, if Licensor fails to respond to such reminder notice within thirty (30) days of receiving such reminder, such submission shall
be deemed approved by Licensor. If Licensor rejects any such proposed use, such New Promotional Material may not be used or disseminated unless the Licensed Marks are entirely removed therefrom. 

  
 6 

 D. Licensee may display, advertise and/or sell the Products and Services on or in
connection with the World Wide Web or other Internet-based services (collectively, the “Internet”) provided that Licensee strictly adheres to the terms of this Agreement, including the following conditions: (i) the Licensed
Marks shall neither be used in the domain name of Licensee’s website(s) nor as part (nor whole) of the URL(s) relating to Licensee’s website(s) or any other website(s) controlled by Licensee, unless specifically approved by Licensor in its
sole discretion and (ii) Licensee shall not link from web pages featuring the Licensed Marks and/or the Products and Services to any website owned by the GE or its Affiliates, unless Licensee has obtained written approval from Licensor for use
of such link. 
 E. If, at any time, the Commercialization, advertising, marketing, promotion, servicing, quality or performance of
any Products or Services fail, in the reasonable opinion of Licensor, to conform to the Standards of Quality or any other requirement of this Agreement, and Licensor notifies Licensee using the Licensed Marks of such failure, Licensee shall take all
necessary steps to bring such Products and Services into conformance with the Standards of Quality and other requirements of this Agreement. If Licensee fails to cure any such non-conformity within thirty (30) days of such notice of
nonconformity, then, without prejudice to Licensor’s right to terminate the Agreement pursuant to Section 7.B, Licensee shall use its best efforts to promptly cease Commercializing, advertising, marketing, promoting, and servicing
such non-conforming Products and Services and/or advertising, marketing and promotional materials in connection with the Licensed Marks. Licensee acknowledges that any use of the Licensed Marks during a suspension period in contravention of this
Section 4.E shall be deemed unauthorized and infringing. 
 5. USE OF LICENSED MARKS 

A. Under the license and rights granted herein, Licensee is authorized to use the Licensed Marks only as provided in Article 2.

 B. Licensee shall comply with the Usage Guidelines with respect to the appearance and manner of use of the Licensed Marks. In
using the Licensed Marks, Licensee shall indicate that the Licensed Marks are registered trademarks of GE. Any use of the Licensed Marks not specifically provided for by the Usage Guidelines (including any uses not contemplated by the Usage
Guidelines, any uses in contravention of the Usage Guidelines and any clarifications of the Usage Guidelines) shall be adopted by Licensee only upon prior written approval by Licensor. 

C. Without limiting Section 5.B, all use of the Licensed Marks by Licensee hereunder shall be in accordance in all respects
with the provisions of this Agreement, and with the Usage Guidelines. Licensee shall not: (i) unless otherwise approved in writing by Licensor in advance of such use, alter the Licensed Marks in any manner, including proportions, colors,
elements, or otherwise; or animate, morph or otherwise distort its perspective or two-dimensional appearance; or alter any proprietary indicators, such as “TM,” or ®, which appear
with the Licensed Marks; (ii) use the Licensed Marks in any manner that (a) disparages GE or its Affiliates, or their products or services, (b) infringes Licensor’s, GE’s or their Affiliates’ Intellectual Property
rights, or (c) violates any applicable Laws; (iii) use the Licensed Marks in any manner that implies sponsorship or endorsement of Licensee or its products and services by Licensor, GE or their Affiliates; (iv) use the Licensed Marks
as a feature or design element of or alongside or in conjunction with any other logo or any other company’s name and/or Mark other 

  
 7 

 
than as permitted with respect to the Licensed Tagline in the form agreed upon in advance of any such use by Licensor in writing; (v) intentionally or negligently (a) commit or cause to
be committed any illegal or unethical acts or (b) engage in any conduct that disparages, disputes, attacks, challenges, impairs, dilutes or is likely to harm the reputation or goodwill associated with Licensor, GE or any of their Affiliates, or
their products or services, or the Licensed Marks or the rights of Licensor, GE and their Affiliates therein; or (vi) use the Licensed Marks in connection with any Licensed Products or Services or advertising, marketing, promotional or other
materials that infringe, misappropriate or violate any Intellectual Property of any third party. 
 D. Licensee shall comply with all
applicable Laws pertaining to the Licensed Marks, including those pertaining to the proper use and designation of Licensed Marks and pertaining to the Commercialization, advertising, marketing and promotion of Products and Services.  

E. Licensee shall use its reasonable best efforts (taking into consideration among other things any adverse impact or consequences that
might arise from Licensee’s continued use of the Licensed Marks) to cease use of the Licensed Marks upon notice from Licensor to Licensee that, in the good faith opinion of Licensor, such use of the Licensed Marks might result in any trademark
liability on the part of either Licensor, GE or their Affiliates or Licensee or a challenge to any of the Licensed Marks. Licensee shall comply fully and promptly with all guidelines provided to Licensee from time to time by Licensor for the purpose
of distinguishing the Licensor’s Marks and preventing confusion of itself and another entity.  
 F. Licensee shall
supply Licensor with such information as Licensor may reasonably request in order for Licensor to acquire, maintain and renew registrations of the Licensed Marks, to record this Agreement, to enter Licensee as a registered or authorized users of the
Licensed Marks or for any purpose reasonably related to Licensor’s maintenance and protection of the Licensed Marks (including information concerning sales and other dispositions of Products and Services that are required in connection with the
foregoing). Licensee shall fully cooperate with Licensor’s reasonable requests in the execution, filing, and prosecution of any registration of a Mark or copyright relating to the Licensed Marks that Licensor may desire to obtain. For the
foregoing purpose, Licensee shall supply to Licensor such samples, labels, letterheads and other similar materials bearing the Licensed Marks as may be reasonably required by Licensor. 

G. Licensor and GE retain the sole right to protect at their sole discretion the Licensed Marks, including deciding whether and how to
file and prosecute applications to register the Licensed Marks, whether to abandon such applications or registrations, and whether to discontinue payment of any maintenance or renewal fees with respect to any such registrations. Notwithstanding
anything to the contrary in Article 2, Licensee will not use the Licensed Marks, nor may any particular Product or Service be Commercialized, marketed, advertised, or promoted (i) in any jurisdiction where the Licensed Marks have not
been registered in the relevant Mark class(es) for Products and Services, until an appropriate Mark search has been conducted and an application to register the particular Licensed Mark in the relevant Mark class(es) for Products and Services has
been filed in such jurisdiction, or Licensor determines in good faith on the advice of its trademark counsel that (a) it would be preferable not to seek to register such Licensed Mark in such jurisdiction but that there is no material

  
 8 

 
impediment to the use of such Licensed Mark therein or (b) use of such Licensed Mark without registration is not likely to adversely affect Licensor’s rights in and to such Licensed
Mark in such jurisdiction, and (ii) in a jurisdiction where entry of Licensee as a registered or authorized users is required by Law, prior to the execution of an appropriate registered user agreement or similar agreement and the filing thereof
with the appropriate governmental agency. In the event that Licensee desires to Commercialize, market, advertise or promote any Product or Service under a Licensed Mark in any jurisdiction where such Licensed Mark has not been registered in the
relevant Mark class(es), Licensee shall provide prior written notice thereof to Licensor and Licensee shall pay all reasonable, preapproved, documented costs for the Mark search and for any application to register such Licensed Mark in such
jurisdiction. Not in limitation of the foregoing or Licensor’s rights hereunder (including pursuant to Articles 7 and 8), in the event that Licensor determines that Licensee is using the Licensed Marks in a jurisdiction where such
Licensed Marks are not registered in the appropriate Mark class(es) for Products and Services, Licensor at its sole discretion shall have the option to require such registration at Licensee’s expense. GE will own all right, title and interest
in and to any and all registrations and applications for registration of the Licensed Marks, whether filed before or after the Effective Date. 

H. Other than with the prior written consent of Licensor, to be granted or withheld in Licensor’s sole discretion, Licensee shall
not enter into any agreements relating to the placement of paid listings for “keyword” or similar Website searches that consist of any of the Licensed Marks either alone or in combination with other words or phrases. Upon expiration or
termination of this Agreement, Licensee shall assign any agreements relating to the placement of listings in response to Website search terms and keywords that include the Licensed Marks to Licensor, unless such agreements by their own terms are
non-assignable, in which case Licensee shall terminate such agreements. 
 6. OWNERSHIP AND VALIDITY OF LICENSED MARKS 

A. Licensee admits the validity, and GE’s ownership, of the Licensed Marks and agrees that any and all goodwill, rights or
interests that might be acquired by the use of the Licensed Marks by Licensee shall inure to the sole benefit of GE. If Licensee obtains rights or interests in the Licensed Marks, Licensee hereby transfers, and shall execute upon request by Licensor
any additional documents or instruments necessary or desirable to transfer, those rights or interests to GE and its Affiliates. Licensee admits and agrees that, as between the Licensor and Licensee, Licensee has been extended only a mere permissive
right to use the Licensed Marks as provided in this Agreement which is not coupled with any ownership interest. 
 B. Licensee
agrees not to: (i) use or register in any jurisdiction any Marks confusingly similar to, or consisting in whole or in part of, the Licensed Marks, (ii) register the Licensed Marks in any jurisdiction, without in each case the express prior
written consent of Licensor, or (iii) use the Licensed Marks in any trade name, service name, corporate name or designation including any of the Licensed Marks. Whenever Licensee becomes aware of any reasonable likelihood of confusion or risk
thereof between a Mark used by Licensee and a Licensed Mark, Licensee shall take appropriate steps to promptly remedy or avoid such confusion or risk of confusion. 

  
 9 

 C. Licensee shall give Licensor notice promptly of any known or presumed infringements or
other violations of the Licensed Marks of which it becomes aware. Licensee shall render to Licensor full and prompt cooperation (and, subject to Article 5, at Licensor’s expense) for the enforcement and protection of the Licensed Marks.
Licensor shall retain all rights to bring all actions and proceedings in connection with infringement or other violations of the Licensed Marks at its sole discretion. If Licensor decides to enforce the Licensed Marks against an infringer, all costs
incurred and recoveries made shall be for the account of Licensor. 
 D. Licensee will not at any time during the Term, and any time
thereafter for as long as Licensor, GE or any of their Affiliates shall own any rights in the Licensed Marks, willingly do or cause to be done any act or thing disparaging, disputing, attacking, challenging, impairing, diluting, or in any way
tending to harm the reputation or goodwill associated with Licensor, GE, GECC, or their Affiliates or any of the Licensed Marks. 

E. Licensee has no right, and shall not represent that it has any right, to bind or obligate Licensor in any way. 

7. TERM AND TERMINATION 

A. Unless sooner terminated pursuant to any provision of this Article 7, and subject to the survival of certain provisions as
set forth in Section 7.G, the term of this Agreement shall commence on the Effective Date and continue until the Trigger Date (“Term”). 

B. In the event that Company or any of its Permitted Sublicensees/Assignees breach in any material respect any representation, warranty
or covenant of this Agreement, and Licensor gives Company written notice of such breach (which notice shall provide a description of the breach that is reasonable under the circumstances), Company and any such Permitted Sublicensee/Assignee shall
have thirty (30) days from its receipt of such notice to remedy such breach. If such breach is not remedied within such thirty (30) day period, Licensor shall have the right to terminate this Agreement, in whole or in part, at any time
thereafter by giving Company notice of such termination.  
 C. This Agreement shall automatically terminate upon notice to
Company (i) in its entirety upon any of the following events with respect to Company and (ii) with respect to any Permitted Sublicensee/Assignee, upon any of the following events with respect to such Permitted Sublicensee/Assignee:

 1. any merger or consolidation of Company or such Permitted Sublicensee/Assignee with a third party that is not an Affiliate of
Licensee; 
 2. the sale of all or substantially all of the assets of Company or such Permitted Sublicensee/Assignee to a third party that is
not an Affiliate of Licensee; or 
 3. a change of control of Company or such Permitted Sublicensee/Assignee whereby any third party that is
not an Affiliate of Licensee acquires fifty percent (50%) or more of the outstanding voting securities of Company or such Permitted Sublicensee/Assignee or the power, directly or indirectly, to direct or cause the direction of management or
policies (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise) of Company or such Permitted Sublicensee/Assignee. 

  
 10 

 D. In the event of any termination in connection with any such merger, consolidation,
sale, or change of control, Licensee may submit to Licensor a written request to continue its then-current use of the Licensed Marks for a transition period (which in each case shall not be longer than the applicable Maximum License Term), which
period will be subject to Licensor’s prior written approval, which approval will not be unreasonably withheld. 
 E. This
Agreement shall automatically terminate with respect to Company or a Permitted Sublicensee/Assignee without notice to Licensee by Licensor in the event that Company or such Permitted Sublicensee/Assignee commences, or has commenced against it,
proceedings under bankruptcy, insolvency or debtor’s relief laws or similar laws in any other jurisdiction, which proceedings are not dismissed within sixty (60) days; Company or such Permitted Sublicensee/Assignee makes a general
assignment for the benefit of its creditors; or Company or such Permitted Sublicensee/Assignee ceases operations or is liquidated or dissolved. 

F. Upon any expiration or termination of this Agreement, Licensee shall cease and completely discontinue use of the Licensed Marks
other than as provided in: (i) Section 2.A.1 with respect to the Specified GE Marks solely as to the items for the applicable Maximum License Terms that extend beyond the Term; and (ii) Section 2.A.2 with respect to
the Licensed Tagline for the remainder of the period set forth therein. 
 G. The following provisions of this Agreement shall
survive any termination or expiration of this Agreement: (i) the licenses granted pursuant to Sections 2.A.1 (solely for the applicable Maximum License Term for such items in Exhibit D that are intended to survive the Term) and
Section 2.A.2 (only for the time period set forth therein); (ii) all other terms and conditions of this Agreement applicable to such license grants; and (iii) Sections 6.A, 6.B and 6.D and Articles 8
and 9. Subject to the preceding sentence and except as expressly provided otherwise herein, upon termination or expiration of this Agreement, all licenses granted to Licensee herein shall immediately terminate. 

8. INDEMNIFICATION; DISCLAIMERS; 

ASSUMPTION OF RISK 
 A.
Licensee shall fully indemnify and hold harmless Licensor, GE and their Affiliates and their directors, officers, partners, employees and agents (collectively, “GECC Indemnified Parties”) from and against any and all claims,
losses, damages, liabilities, costs (including reasonable attorneys’ fees), and expenses asserted against or suffered by any such party and arising out of or relating to (i) Licensee’s breach of this Agreement; (ii) any claim
that Licensee’s use of the Licensed Marks other than in accordance with the terms set forth in this Agreement, infringes or otherwise violates the Intellectual Property rights of any third party; and (iii) any claim arising from products
or services Commercialized, advertised, marketed or promoted by Licensee from and after the Effective Date under or in connection with the Licensed Marks. 

  
 11 

 B. EACH PARTY AGREES AND ACKNOWLEDGES THAT THE LICENSED MARKS ARE LICENSED HEREUNDER AS
IS, WITH ALL FAULTS, WITHOUT WARRANTY OF ANY KIND, AND SUBJECT TO ALL EXISTING LICENSES AND RIGHTS GRANTED, AND THAT LICENSOR DOES NOT MAKE, AND LICENSOR HEREBY SPECIFICALLY DISCLAIMS, ANY REPRESENTATION OR WARRANTIES, EXPRESS OR IMPLIED, INCLUDING
OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. 
 C. Each of Licensor and Licensee expressly disclaims that it is owed any
duties not expressly set forth in this Agreement, and waives and releases any and all tort claims and causes of action that may be based upon, arise out of or relate to this Agreement, or the negotiation, execution or performance of this
Agreement. 
 D. Licensee hereby assumes all risk and liability resulting from Licensee’s use of the Licensed Marks. 

9. MISCELLANEOUS PROVISIONS 

A. Assignment. This Agreement shall not be assigned, in whole or in part, by operation of Law or otherwise without the prior
written consent of both Parties, except that (i) Licensor may assign any or all of its rights and obligations under this Agreement to any of its Affiliates or (ii) Licensee may assign any or all of its rights and obligations under this
Agreement to any of its direct or indirect wholly-owned Subsidiaries, provided that (x) such Subsidiary executes an agreement to be bound by all of the obligations under this Agreement, (y) Company has a continuing obligation to cause such
Subsidiary to perform under this Agreement and (z) Company guarantees the performance of such Subsidiary. Any attempted assignment in violation of this Section 9.A shall be void. This Agreement shall be binding upon, shall inure to
the benefit of, and shall be enforceable by the Parties and their permitted successors and assigns. 
 B. Governing
Law. This Agreement shall be governed by and construed and interpreted in accordance with the Laws of the State of New York irrespective of the choice of Laws principles of the State of New York other than Section 5-1401 of the General
Obligations Law of the State of New York.  
 C. Force Majeure. No party hereto (or any Person acting on its behalf)
shall have any liability or responsibility for failure to fulfill any obligation (other than a payment obligation) under this Agreement so long as and to the extent to which the fulfillment of such obligation is prevented, frustrated, hindered or
delayed as a consequence of circumstances of Force Majeure. A party claiming the benefit of this provision shall, as soon as reasonably practicable after the occurrence of any such event: (i) notify the other parties of the nature and extent of
any such Force Majeure condition and (ii) use due diligence to remove any such causes and resume performance under this Agreement as soon as feasible. 

  
 12 

 D. Notices. All notices, requests, claims, demands and other communications under
this Agreement shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by facsimile with receipt confirmed (followed by delivery of an
original via overnight courier service) or by registered or certified mail (postage prepaid, return receipt requested) to Licensor and Licensee at the following addresses (or at such other address as shall be specified in a notice given in
accordance with this Section 9.D): 
 Licensor: 

GE Capital Registry, Inc. 
 120
Long Ridge Road, 2C-34 
 Stamford, CT 06902-1247 

Attention: George Thompson 

Facsimile: 
 with a copy (which
shall not constitute notice) to: 
 General Electric Company 

Corporate Trademark Operation 

3135 Easton Turnpike 
 Fairfield,
CT 06828 
 Attention: Kathryn Barrett Park 

Facsimile: (203) 373-2181 

with a copy (which shall not constitute notice) to: 

General Electric Company 
 3135
Easton Turnpike 
 Fairfield, CT 06828 

Attention: Senior Counsel for Transactions 

Facsimile: (203) 373-3008 

with a copy (which shall not constitute notice) to: 

Weil, Gotshal & Manges LLP 

767 Fifth Avenue 
 New York, NY
10153 
 Attention: Howard Chatzinoff, Esq. 

Facsimile: (212) 310-8007 

Licensee: 
 Synchrony Financial

 777 Long Ridge Road 

Stamford, CT 06902 
 Attention:
General Counsel 
 Fax: (203) 567-8103 

  
 13 

 E. Severability. If any term or other provision of this Agreement is invalid,
illegal or incapable of being enforced under any Law or as a matter of public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect. Upon such determination that any term or other provision
is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that the
transactions contemplated by this Agreement be consummated as originally contemplated to the greatest extent possible. 
 F.
Entire Agreement. Except as otherwise expressly provided in this Agreement, this Agreement (including the Exhibits hereto), together with the Master Agreement, constitutes the entire agreement of the Parties with respect to the subject
matter of this Agreement and supersedes all prior agreements and undertakings, both written and oral, between or on behalf of the Parties with respect to the subject matter of this Agreement. 

G. No Third Party Beneficiaries. Except as provided in Section 2.C with respect to Permitted Sublicensees and
Article 8 with respect to GECC Indemnified Parties, this Agreement is for the sole benefit of the Parties and their permitted successors and assigns and nothing in this Agreement, express or implied, is intended to or shall confer upon any
other Person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 
 H.
Public Announcements. The Parties shall consult with each other before issuing, and give each other the opportunity to review and comment upon, any press release or other public statements with respect to the transactions contemplated by
this Agreement, and shall not issue any such press release or make any such public statement prior to such consultation, except as may be required by applicable Law, court process or by obligations pursuant to any listing agreement with any national
securities exchange or national securities quotation system. 
 I. Amendment. No provision of this Agreement may be amended or
modified except by a written instrument signed by all the parties hereto. No waiver by any party hereto of any provision hereof shall be effective unless explicitly set forth in writing and executed by the party hereto so waiving. The waiver by any
party hereto of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any other subsequent breach. 

J. Rules of Construction. Interpretation of this 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 Exhibit
are references to the Articles, Sections, paragraphs, and Exhibits to this Agreement unless otherwise specified, (c) the word “including” and words of similar import shall mean “including, without limitation,”
(d) provisions shall apply, when appropriate, to successive events and transactions, (e) the table of contents and headings contained herein are for reference purposes only and shall not affect in any way the meaning or interpretation of
this Agreement and (f) this Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting or causing any instrument to be drafted. 

  
 14 

 K. Dispute Resolution. Any dispute, controversy or claim arising out of or relating
to this Agreement or the validity, interpretation, breach or termination of any provision of this Agreement shall be resolved in accordance with Article IX of the Master Agreement. 

L. Specific Performance. Licensee acknowledges and agrees that the breach of this Agreement would cause irreparable damage to
Licensor, GE and their Affiliates and that none of Licensor, GE and their Affiliates will have an adequate remedy at law. Therefore, the obligations of Licensee under this Agreement shall be enforceable by a decree of specific performance issued by
any court of competent jurisdiction, and appropriate injunctive relief may be applied for and granted in connection therewith. Such remedies shall, however, be cumulative and not exclusive and shall be in addition to any other remedies which
Licensor may have under this Agreement or otherwise. 
 M. Waiver of Jury Trial. EACH PARTY HERETO HEREBY WAIVES TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY. EACH PARTY HERETO
(I) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HERETO HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY HERETO WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (II)
ACKNOWLEDGES THAT IT AND THE OTHER PARTY HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.M. 

N. Relationship of the Parties. Nothing contained herein is intended or shall be deemed to make either Party the agent,
employee, partner or joint venturer of the other Party or be deemed to provide such Party with the power or authority to act on behalf of the other Party or to bind the other Party to any contract, agreement or arrangement with any other individual
or entity. 
 O. Counterparts. This Agreement may be executed in one or more counterparts, each of which when executed shall
be deemed to be an original but all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement by facsimile shall be as effective as delivery of a manually executed
counterpart of any such Agreement. 
 [The remainder of this page has been intentionally left blank.] 

  
 15 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their respective
duly authorized representatives as of the date first written above. 
  

			
	GE CAPITAL REGISTRY, INC.
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	SYNCHRONY FINANCIAL
		
	By:	 	 
		 	Name:
		 	Title:

 Signature Page to Transitional Trademark License Agreement 

 EXHIBIT A 

Specified GE Marks 

 Exhibit B 

License Territory 

 Exhibit C 

Near-Launch Products and Services 

 Exhibit D 

Maximum License Terms

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