Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
 EXCHANGE
AGREEMENT 
 dated as of 

July 3, 2017 
 between 

GENERAL ELECTRIC COMPANY, 

BAKER HUGHES, A GE COMPANY, 

and 
 BAKER HUGHES, A GE
COMPANY, LLC 

 TABLE OF CONTENTS 

 

							
	ARTICLE I	 
	
	DEFINITIONS AND USAGE	 
			
	 Section 1.01.
	 	Definitions	  	 	3	 
	 Section 1.02.
	 	Other Definitional and Interpretative Provisions	  	 	6	 
	
	ARTICLE II	 
	
	EXCHANGE	 
			
	 Section 2.01.
	 	Exchange of Paired Interests	  	 	7	 
	 Section 2.02.
	 	Exchange Procedures; Notices and Revocations	  	 	8	 
	 Section 2.03.
	 	Adjustment	  	 	11	 
	 Section 2.04.
	 	Tender Offers and Other Events with Respect to Newco	  	 	12	 
	 Section 2.05.
	 	Listing of Deliverable Common Stock	  	 	13	 
	 Section 2.06.
	 	Deliverable Common Stock to be Issued; Capital Structure; Cancellation of Paired Units	  	 	13	 
	 Section 2.07.
	 	Distributions	  	 	14	 
	
	ARTICLE III	 
	
	REPRESENTATIONS AND WARRANTIES	 
			
	 Section 3.01.
	 	Representations and Warranties of Newco and of the Company	  	 	15	 
	 Section 3.02.
	 	Representations and Warranties of GE	  	 	15	 
	
	ARTICLE IV	 
	
	MISCELLANEOUS	 
			
	 Section 4.01.
	 	Additional Holders	  	 	15	 
	 Section 4.02.
	 	Further Assurances	  	 	16	 
	 Section 4.03.
	 	Notices	  	 	16	 
	 Section 4.04.
	 	Binding Effect	  	 	16	 
	 Section 4.05.
	 	Governing Law; Jurisdiction; Specific Performance; WAIVER OF JURY TRIAL	  	 	17	 
	 Section 4.06.
	 	Counterparts; Electronic Transmission of Signatures	  	 	17	 
	 Section 4.07.
	 	Assignment; No Third Party Beneficiaries	  	 	17	 
	 Section 4.08.
	 	Expenses	  	 	18	 
	 Section 4.09.
	 	Severability	  	 	18	 
	 Section 4.10.
	 	Entire Agreement	  	 	18	 
	 Section 4.11.
	 	Amendment	  	 	18	 
	 Section 4.12.
	 	Waiver	  	 	18	 
	 Section 4.13.
	 	Tax Treatment	  	 	18	 

  
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 EXCHANGE AGREEMENT 

EXCHANGE AGREEMENT (this “Agreement”), dated as of July 3, 2017, by and among Baker Hughes, a GE company, LLC, a
Delaware limited liability company (the “Company”), Baker Hughes, a GE company, a Delaware corporation (formerly known as Bear Newco, Inc.) (“Newco”), and General Electric Company, a New York corporation
(“GE”). 
 W I T N E S S E T H: 

WHEREAS, the parties hereto desire to provide for the exchange of Common Units together with shares of Class B Common Stock for shares of
Class A Common Stock (as defined below), in each case, on the terms and subject to the conditions set forth herein. 
 NOW, THEREFORE,
in consideration of the mutual covenants and agreements herein made and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

ARTICLE I 
 DEFINITIONS
AND USAGE 
 Section 1.01. Definitions. 

(a) The following terms shall have the following meanings for the purposes of this Agreement: 

“beneficially own” means, with respect to Class A Common Stock, having “beneficial ownership” of such stock for
purposes of Rule 13d-3 or 13d-5 promulgated under the Exchange Act, without giving effect to the limiting phrase “within sixty days” set forth in Rule 13d-3(1)(i). 

“BHI” means Baker Hughes Incorporated, a Delaware corporation. 

“Board” means the board of directors of Newco. 

“Business Day” means a day other than Saturday, Sunday or a day on which banks located in New York, New York are authorized
or required by applicable Law to close. 
 “Cash Exchange Payment” means an amount in cash equal to the product of
(i) the number of shares of Class A Common Stock into which the surrendered Paired Interests are exchangeable and (ii) the VWAP of the Class A Common Stock for the five consecutive full Trading Days immediately prior to the date
of delivery of the relevant Notice of Exchange. 
 “Class A Common Stock” means the Class A common stock, $0.0001 par
value per share, of Newco. 
 “Class B Common Stock” means the Class B common stock, $0.0001 par value per share, of Newco.

 “Code” means the United States Internal Revenue Code of 1986. 

  
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 “Common Unit” has the meaning assigned to it in the LLC Agreement. 

“Conflicts Committee” has the meaning assigned to it in the Stockholder’s Agreement. 

“Deliverable Common Stock” means Class A Common Stock to be delivered pursuant to an Election Notice in an Exchange.

 “Exchange Act” means the Securities Exchange Act of 1934. 

“Exchange Date” means the last day on which an Election Notice may be delivered by the Company, or such later date as
(x) may be set forth in the applicable Notice of Exchange, (y) required to permit the Election Response Period to occur, as permitted under Section 2.02(c) or (z) required by Section 2.01(c), in which case the “Exchange
Date” means either (i) the later date specified in such Notice of Exchange, (ii) the later date upon which the contingencies described in such Notice of Exchange are satisfied, (iii) the date on which the Election Response Period
ends or (iv) the date on which the requirements described in Section 2.01(c) are satisfied, as applicable. 
 “Exchange
Rate” means the number of shares of Class A Common Stock for which one Paired Interest is entitled to be Exchanged under this Agreement. On the date of this Agreement, the Exchange Rate is one (1), subject to adjustment pursuant to
Section 2.03. 
 “Exchanging Holder” means a Holder effecting an Exchange pursuant to this Agreement. 

“Governmental Entity” means 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. 

“Holder” means GE or any other Person that holds a Paired Interest in accordance with the terms of this Agreement. 

“Law” means any federal, state or local law (statutory, common or otherwise), constitution, treaty, convention, ordinance,
code, rule, regulation, order, injunction, judgment, decree, ruling or other similar requirement enacted, adopted, promulgated or applied by a Governmental Entity. 

“LLC Agreement” means that certain Amended and Restated Limited Liability Company Agreement of the Company, dated as of the
date hereof, among the Company and its members, as amended from time to time. 
 “Managing Member” has the meaning assigned
to it in the LLC Agreement. 
 “Newco Group” means Newco and its Subsidiaries (x) excluding for any Post-Closing
Period any entity that is a member of the Newco LLC Group (as defined in the Tax Matters Agreement) and (y) including for any Pre-Closing Period, BHI and its Subsidiaries (for the avoidance of doubt, whether or not BHI and its Subsidiaries are
Subsidiaries of Newco). 

  
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 “Newco Group Members” means EHHC NewCo, LLC, CFC Holdings, LLC and any other
Member of the Company that is included, as of the relevant time, in the Newco Group. 
 “Paired Interest” means one Common
Unit together with one share of Class B Common Stock, subject to adjustment pursuant to Section 2.03. For purposes of the Agreement, unless and until another GE Group Member (as defined in the LLC Agreement) becomes a Holder in
accordance with this Agreement, GE shall be treated as the Holder of any Paired Interest consisting of one Common Unit held by any GE Group Member and one share of Class B Common Stock held directly by GE. 

“Person” means an individual, corporation, partnership, joint venture, association, trust, unincorporated organization,
limited liability company or governmental or other entity. 
 “Registration Rights Agreement” means that certain
Registration Rights Agreement, dated as of the date hereof, between GE and Newco. 
 “SEC” means the U.S. Securities and
Exchange Commission. 
 “Securities Act” means the Securities Act of 1933. 

“Sharing Amount” has the meaning assigned to it in the Tax Matters Agreement. 

“Sharing Payment” has the meaning assigned to it in the LLC Agreement. 

“Stockholders Agreement” means that certain Stockholders Agreement of Newco, dated as of the date hereof, between GE and
Newco. 
 “Tax Matters Agreement” means that certain Tax Matters Agreement, dated as of the date hereof, among the Company,
Newco, EHHC NewCo, LLC, and GE. 
 “Trading Day” means any Business Day on which the Class A Common Stock is traded,
or able to be traded, on the principal national securities exchange on which the Class A Common Stock is listed or admitted to trading. 

“Transaction Agreement” means that certain Transaction Agreement and Plan of Merger, dated as of October 30, 2016, among
GE, BHI, Newco and Bear MergerSub, Inc., a Delaware corporation (“Merger Sub”), as amended by that certain Amendment to Transaction Agreement and Plan of Merger, dated as of March 27, 2017, among GE, BHI, Newco, Merger Sub, BHI
Newco, Inc., a Delaware corporation, and Bear MergerSub 2, Inc., a Delaware corporation (as may be further amended from time to time). 

“Units” has the meaning assigned to it in the LLC Agreement. 

“Unpaid BHI Sharing Amount” has the meaning assigned to it in the Tax Matters Agreement. 

  
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 “VWAP” means, for any specified period, with respect to a share of Class A
Common Stock, a price per share equal to the volume-weighted average of the trading prices of such stock, as reported by Bloomberg L.P., or its successor, for such period (without regard to pre-open or after hours trading outside of any regular
trading session during such period) on the principal U.S. securities exchange or automated or electronic quotation system on which the Class A Common Stock trades, subject to appropriate and equitable adjustment for any stock splits, reverse
splits, stock dividends or similar events affecting the Class A Common Stock. 
 (b) Capitalized terms used but not defined herein shall
have the meaning ascribed thereto in the LLC Agreement. 
 (c) Each of the following terms is defined in the Section set forth opposite such
term: 
  

			
	 Term
	  	 Section

	 Agreement
	  	Preamble
	 Cash Balances
	  	Section 2.01(c)
	 Chancery Court
	  	Section 4.05
	 Company
	  	Preamble
	 Election Notice
	  	Section 2.02(b)
	 Election Response Period
	  	Section 2.02(c)(ii)
	 Exchange
	  	Section 2.01
	 Exchange Agent
	  	Section 2.02(a)
	 Holder
	  	Preamble
	 Maximum Cash Amount
	  	Section 2.01(c)
	 Newco Change of Control Transaction
	  	Section 2.04
	 Notice of Exchange
	  	Section 2.02(a)
	 Permitted Transferee
	  	Section 4.01
	 Newco
	  	Preamble

 Section 1.02. Other Definitional and Interpretative Provisions. The descriptive headings of this
Agreement are inserted for convenience only and do not constitute a substantive part of this Agreement. Whenever required by the context, any pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the
singular form of nouns, pronouns and verbs shall include the plural and vice versa. The use of the word “including” in this Agreement shall be by way of example rather than by limitation. Reference to any agreement, document or instrument
means such agreement, document or instrument as amended or otherwise modified from time to time in accordance with the terms thereof, and if applicable hereof. Without limiting the generality of the immediately preceding sentence, no amendment or
other modification to any agreement, document or instrument that requires the consent of any Person pursuant to the terms of this Agreement or any other agreement will be given effect hereunder unless such Person has consented in writing to such
amendment or modification. The use of the words “or,” “either” and “any” shall not be exclusive. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity
or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any of
the provisions of this Agreement. Wherever a conflict exists between this Agreement and any other agreement, this Agreement shall control but solely to the extent of such conflict. References to agreements or other documents shall be deemed to refer
to such agreement or other document as amended, restated, supplemented and/or otherwise modified from time to time. References to any Law or statute shall be deemed to refer to such Law or statute, together with the rules and regulations promulgated
thereunder, in each case as may be amended from time to time and any successor thereto. 

  
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 ARTICLE II 

EXCHANGE 

Section 2.01. Exchange of Paired Interests. 

(a) Subject to any restrictions set forth in the Stockholders Agreement and Section 2.02(h), a Holder shall be entitled at any time
and from time to time upon the terms and subject to the conditions hereof, to surrender Paired Interests to the Company, in exchange (such exchange, an “Exchange”) for the delivery by the Company to such Holder of either (i) a
number of shares of Class A Common Stock that is equal to the product of the number of Paired Interests surrendered multiplied by the Exchange Rate or (ii) at the option of Newco, or the Company on behalf of Newco, to be exercised pursuant
to Section 2.02(b), a Cash Exchange Payment. 
 (b) Notwithstanding anything herein to the contrary, in no event shall a Holder
be entitled to effect an Exchange if and to the extent that, after the effectiveness of the Exchange and after giving effect to any disposition of Class A Common Stock that occurs immediately after such Exchange, GE and its Subsidiaries
collectively would beneficially own more than 50% of the outstanding shares of Class A Common Stock at such time. 
 (c) Notwithstanding
anything herein to the contrary, in no event shall a Holder be entitled to effect an Exchange (1) if as of the date of the applicable Notice of Exchange, the aggregate cash balances of the Newco Group (the “Cash Balances”)
exceed $10,000,000 (the “Maximum Cash Amount”); provided that, in the event that such Cash Balances exceed the Maximum Cash Amount (i) Newco shall have 30 days after delivery of such Notice of Exchange to (v) contribute
such excess cash to Newco LLC in exchange for additional Common Units, pursuant to the procedure set forth in Section 3.04(b) of the LLC Agreement, (w) make one or more distributions on Class A Common Stock, (x) repurchase shares
of Class A Common Stock, (y) receive a determination from the Conflicts Committee that such Cash Balances in excess of the Maximum Cash Amount are reasonably necessary for Newco Group operations, in which case they shall be disregarded for
purposes of this Section 2.01(c), or (z) any combination thereof such that the Cash Balances are equal to or less than the Maximum Cash Amount, and (ii) upon the expiration of such 30-day period, such Holder or Holders shall be
entitled to effect the Exchange set forth in such Notice of Exchange (for the avoidance of doubt, subject to any revocation pursuant to Section 2.02(c)(ii)); 

  
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provided, however, that, if as of the expiration of such 30-day period, the Cash Balances continue to exceed the Maximum Cash Amount, Newco shall declare a distribution in an amount no less than
such excess on the Exchange Date to holders of record of Class A Common Stock immediately prior to the effective time of the Exchange (as determined pursuant to Section 2.02(d)), (2) if as of the date of the applicable Notice
of Exchange, there is an Unpaid BHI Sharing Amount, or Sharing Amount or Sharing Payment, as applicable, due to a Newco Group Member; provided that such Exchange shall be permitted to occur on or after the end of the five (5) Business Day
period specified in Section 3.04(c) of the LLC Agreement and the Newco Group Member shall be deemed to contribute such Unpaid BHI Sharing Amount, or Sharing Amount or Sharing Payment, as applicable, due to a Newco Group Member to Newco LLC as
payment for Common Units in accordance with Section 3.04(c) of the LLC Agreement immediately prior to the effective time of the Exchange, or (3) during the period from and including the first day of a taxable year to and including the
Determination Date with respect to the prior taxable year if such Exchange, together with any other Exchanges by the Holder (or any Affiliate of the Holder) during this period would result in the Exchange of 3% or more of the total outstanding
Common Units of Newco LLC during this period; provided that such an Exchange shall be permitted to occur on or after the end of the five (5) Business Day period specified in Section 3.04(c) of the LLC Agreement and (A) promptly
following the delivery of the Notice of Exchange, GE and Newco shall act reasonably and in good faith to mutually determine the amount of any Sharing Amount that may be due with respect to the prior Taxable Year, as accurately as possible and taking
into account any estimated amounts previously provided pursuant to Section 5.03(a) and Section 5.03(b) of the Tax Matters Agreement; provided, however, that (I) if GE and Newco cannot agree on the Sharing Amount within ten
(10) days, any disputes shall be resolved in a manner consistent with the principles of Section 8.05(b) of the Tax Matters Agreement within thirty (30) days, and (II) upon resolution, such determined Sharing Amount shall be final for
purposes of this Agreement and the Tax Matters Agreement, and (B) if the determination pursuant to clause (A) results in a Sharing Amount due to a Newco Group Member, then such Sharing Amount shall be deemed contributed by such Newco Group
Member in accordance with the procedures set forth in Section 2.01(c)(2). 
 Section 2.02. Exchange Procedures; Notices and
Revocations. 
 (a) A Holder may exercise the right to effect an Exchange as set forth in Section 2.01 by delivering a
written notice of exchange in respect of the Paired Interest to be Exchanged substantially in the form of Exhibit A hereto (the “Notice of Exchange”), duly executed by such Exchanging Holder or such Exchanging
Holder’s duly authorized attorney, to the Company at the address set forth in Section 4.03 during normal business hours, or if any agent for the Exchange is duly appointed and acting (the “Exchange Agent”), to the
office of the Exchange Agent during normal business hours. If Common Units and/or the Class B Common Stock are then represented by certificates, certificate(s) representing at least the number of Common Units and/or Class B Common Stock being
exchanged, with instrument(s) of transfer reasonably acceptable to the Company and executed in blank, shall be delivered by such Exchanging Holder to the Company at the address set forth in Section 4.03 during normal business hours or to
the offices of the Exchange Agent during normal business hours. If such certificates have been lost, such Exchanging Holder may deliver, in lieu of such certificate(s), an affidavit of lost certificates. Newco shall take such actions as may be
required, including, if applicable, the issuance and sale of shares of Class A Common Stock to the Company for the delivery by the Company to such Exchanging Holder of a number of shares of Class A Common Stock that is equal to the product
of the number of Paired Interests surrendered multiplied by the Exchange Rate, to ensure the performance by the Company of its obligations under this Article II. 

  
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 (b) Upon receipt of a Notice of Exchange, Newco or the Company on behalf of Newco may deliver a
notice (“Election Notice”) within three (3) Business Days after receipt by Newco and the Company of such Notice of Exchange, in which Newco, or the Company on behalf of Newco, may elect for a Cash Exchange Payment to be
provided in an elective Exchange pursuant to Section 2.01. Subject to Section 2.01(b) and 2.01(c), if no Election Notice is given within such three (3) Business Day period, Newco, or the Company on behalf of
Newco, shall be deemed not to have made an election for a Cash Exchange Payment to be provided in the applicable Exchange and shall be required to deliver Class A Common Stock. 

(c) Contingent Notice of Exchange and Revocation by a Holder. 

(i) A Notice of Exchange may specify that the Exchange is to be (x) contingent (including as to the timing) upon the
consummation of a purchase by another Person (whether in a tender or exchange offer, an underwritten offering or otherwise) of shares of any Deliverable Common Stock into which the Paired Interests are exchangeable, or contingent (including as to
timing) upon the closing of an announced merger, consolidation or other transaction or event in which any Deliverable Common Stock would be exchanged or converted or become exchangeable for or convertible into cash or other securities or property
and/or (y) effective upon a specified future date. 
 (ii) Notwithstanding anything herein to the contrary, a Notice of
Exchange may be withdrawn or amended, in whole or in part, prior to the effectiveness of the Exchange (including following the delivery of an Election Notice), at any time prior to 5:00 p.m. New York City time, on the Business Day immediately
preceding the Exchange Date (or if later, at any time within 24 hours of the delivery of an Election Notice (the “Election Response Period”)) by delivery of a written notice of withdrawal to Newco and the Company or the Exchange
Agent, specifying (1) the number of withdrawn Paired Interests, (2) if any, the number of Paired Interests as to which the Notice of Exchange remains in effect and (3) if such Holder so determines, a new Exchange Date or any other new
or revised information permitted in the Notice of Exchange (which new Exchange Date shall not be earlier than the date that is three (3) Business Days after the date such notice of withdrawal is received by Newco and the Company). 

(d) Each Exchange shall be deemed to be effective immediately prior to the close of business on the Exchange Date, and the Exchanging Holder
(or other Person(s) whose name or names in which any Deliverable Common Stock is to be issued) shall be deemed to be a holder of any Deliverable Common Stock from and after the effectiveness of the Exchange. As promptly as practicable on or after
the Exchange Date, the Company shall deliver or cause to be delivered to the Exchanging Holder (or other Person(s) whose name or names in which any Deliverable Common Stock is to be issued) the Cash Exchange Payment, or if applicable, the number of
shares of any Deliverable Common Stock deliverable upon such Exchange, registered in the name of Exchanging Holder (or other Person(s) whose name or names in which any Deliverable Common Stock is to be issued). 

  
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 (e) The shares of any Deliverable Common Stock issued upon an Exchange, other than any such
shares issued in an Exchange registered under the Securities Act, shall bear a legend in substantially the following form: 
 THESE SECURITIES HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER THE SECURITIES LAWS OF ANY OTHER JURISDICTION, AND MAY NOT BE SOLD OR TRANSFERRED OTHER THAN IN ACCORDANCE WITH THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OF 1933, AS AMENDED
(OR OTHER APPLICABLE LAW), OR AN EXEMPTION THEREFROM. 
 (f) If (i) any shares of Deliverable Common Stock may be sold pursuant to a
registration statement that has been declared effective by the SEC, (ii) all of the applicable conditions of Rule 144 are met, or (iii) the legend (or a portion thereof) otherwise ceases to be applicable, Newco, upon the written
request of a Holder shall promptly provide such Holder or its respective transferees, without any expense to such Persons (other than applicable transfer taxes and similar governmental charges, if any) with new certificates (or evidence of
book-entry shares) for securities of like tenor not bearing the provisions of the legend with respect to which the restriction has terminated. In connection therewith, such Holder shall provide Newco with such information in its possession as Newco
may reasonably request in connection with the removal of any such legend. 
 (g) Subject to the Registration Rights Agreement, Newco, the
Company and the applicable Holder shall bear their own respective expenses in connection with the consummation of any Exchange by such Holder, whether or not any such Exchange is ultimately consummated; provided, however, that Newco
will pay any transfer taxes, stamp taxes or duties, or other similar taxes in connection with, or arising by reason of, any Exchange; provided, further, that if any shares of Deliverable Common Stock are to be delivered in a name other
than that of the Exchanging Holder, then the Exchanging Holder and/or the Person in whose name such shares are to be delivered shall pay to Newco or the Company, as applicable the amount of any transfer taxes, stamp taxes or duties, or other similar
taxes in connection with, or arising by reason of, such Exchange or shall establish to the reasonable satisfaction of Newco and the Company that such tax has been paid or is not payable. 

(h) Notwithstanding anything to the contrary in this Article II, a Holder shall not be entitled to effect an Exchange (and, if
attempted, any such Exchange shall be void ab initio), the Company shall have the right to refuse to honor any request to effect an Exchange, at any time or during any period, if the Company shall reasonably determine that such
Exchange would be prohibited by any applicable Law, provided this subsection Section 2.02(h) shall not limit the Company’s obligations under Section 2.06(c). 

  
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 Section 2.03. Adjustment. 

(a) The Exchange Rate shall be adjusted accordingly if there is any subdivision (by any stock or unit split, stock or unit dividend or
distribution, reclassification, reorganization, recapitalization or otherwise) or combination (by reverse stock or unit split, reclassification, reorganization, recapitalization or otherwise) of the shares of Class B Common Stock or Common
Units that is not accompanied by a substantively identical subdivision or combination of the Class A Common Stock. If there is any reclassification, reorganization, recapitalization or other similar transaction in which the Class A Common
Stock is converted or changed into another security, securities or other property, then upon any subsequent Exchange, an Exchanging Holder shall be entitled to receive the amount of such security, securities or other property that such Exchanging
Holder would have received if such Exchange had occurred immediately prior to the effective date of such reclassification, reorganization, recapitalization or other similar transaction, taking into account any adjustment as a result of any
subdivision (by any split, dividend or distribution, reclassification, reorganization, recapitalization or otherwise) or combination (by reverse split, reclassification, reorganization, recapitalization or otherwise) of such security, securities or
other property that occurs after the effective time of such reclassification, reorganization, recapitalization or other similar transaction and prior to the effectiveness of the Exchange. 

(b) In the event that Newco redeems or repurchases any shares of Class A Common Stock and there is no corresponding repurchase or
redemption of Common Units pursuant to Section 3.11 of the LLC Agreement, the Exchange Rate shall be adjusted immediately following such repurchase (and prior to any Exchange related thereto) to equal the quotient of (x) the aggregate
number of shares of Class A Common Stock outstanding immediately following such repurchase of Class A Common Stock, divided by (y) the aggregate number of Common Units held by the Newco Group Members. 

(c) In the event that a Newco Group Member purchases additional Common Units pursuant to Section 3.04(b) of the LLC Agreement or receives
additional Common Units pursuant to Section 3.04(c) of the LLC Agreement (in each case, whether or not the GE Group Members exercise their right to acquire additional Common Units to keep the proportional ownership the same as prior to the
purchase of Common Units by a Newco Group Member pursuant to Section 3.04(b) or Section 3.04(c) of the LLC Agreement), the Exchange Rate shall be adjusted immediately following such purchase (and prior to any Exchange related thereto) to
equal the quotient of (x) the aggregate number of shares of Class A Common Stock outstanding immediately following such purchase of additional Common Units, divided by (y) the aggregate number of Common Units held by the Newco
Group Members immediately following such purchase of additional Common Units. 
 (d) For the avoidance of doubt, if there is any
reclassification, reorganization, recapitalization or other similar transaction in which the Class A Common Stock is converted or changed into another security, securities or other property, Section 2.03(a), Section 2.03(b) and
Section 2.03(c) shall continue to be applicable, mutatis mutandis, with respect to such security or other property. This Agreement shall apply to, mutatis mutandis, and all references to “Paired Interests” shall be
deemed to include, any security, securities or other property of Newco or the Company which may be issued in respect of, in exchange for or in substitution of shares of Class B Common Stock or Common Units, as applicable, by reason of stock or
unit split, reverse stock or unit split, stock or unit dividend or distribution, combination, reclassification, reorganization, recapitalization, merger, exchange (other than an Exchange) or other transaction. 

  
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 (e) In the event that the number of shares of Class B Common Stock outstanding does not equal the
number of Common Units held by GE Group Members as a result of a GE Group Member’s purchase of additional Common Units pursuant to Section 3.04(b) or Section 3.04(c) of the LLC Agreement, a Paired Interest shall mean one Common Unit
together with the number of shares of Class B Common Stock equal to the quotient of (x) the number of shares of Class B Common Stock held by GE Group Members divided by (y) the number of Common Units held by GE Group Members
immediately following such purchase of additional Common Units. 
 (f) This Agreement shall apply to the Paired Interests held by a Holder
and its Permitted Transferees as of the date hereof, as well as any Paired Interests hereafter acquired by a Holder and its Permitted Transferees. 

Section 2.04. Tender Offers and Other Events with Respect to Newco. Subject to the restrictions set forth in the Stockholders
Agreement, in the event that a tender offer, share exchange offer, issuer bid, merger, recapitalization or similar transaction with respect to Class A Common Stock (a “Newco Offer”) is proposed by Newco or is proposed to Newco
or its stockholders and approved by the Board or is otherwise effected or to be effected with the consent or approval of the Board, all Holders shall be permitted (and, in the case of a Newco Change of Control Transaction that occurs after (but not
upon) the Trigger Date (as defined in the Stockholders Agreement), required) to participate in such Newco Offer by delivery of a Notice of Exchange (which Notice of Exchange shall, in the case of a Newco Change of Control Transaction that occurs
after (but not upon) the Trigger Date, be deemed delivered to the Company without any action by such Holders, and in any case shall be effective immediately prior to the consummation of such Newco Offer (and, for the avoidance of doubt, shall be
contingent upon such Newco Offer and not be effective if such Newco Offer is not consummated)). In the case of a Newco Offer proposed by Newco, Newco and any such Holder will use their respective reasonable best efforts to take all such actions and
do all such things as are necessary or desirable to enable and permit each Holder to participate in such Newco Offer to the same extent or on an economically equivalent basis (taking into account the Exchange Rate at such time) as the holders of
shares of Class A Common Stock without discrimination; provided, however, that without limiting the generality of this sentence (and without limiting the ability of any Holder to Exchange Paired Interests at any time pursuant to
the terms of this Agreement), Newco will, other than in the case of a Newco Change of Control Transaction that occurs after (but not upon) the Trigger Date, use its reasonable best efforts to ensure that each Holder may participate in each such
Newco Offer without being required to Exchange Paired Interests. For the avoidance of doubt, in no event shall a Holder be entitled to receive in such Newco Offer aggregate consideration for each Paired Interest that is greater than the
consideration payable in respect of each share of Class A Common Stock in connection with a Newco Offer (it being understood that payments under or in respect of the Tax Matters Agreement shall not be considered part of any such consideration).
Notwithstanding anything to the contrary contained herein, if the Company makes a Cash Exchange Payment to effect an Exchange made to participate in a Newco Offer, the Cash Exchange Payment shall equal the consideration payable in the Newco Offer
for the number of shares of Class A Common Stock into which the Paired Interests are exchangeable. 

  
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A “Newco Change of Control Transaction” shall mean (a) a merger or consolidation in which (i) Newco is a constituent party or (ii) a subsidiary of Newco is a
constituent party and Newco issues shares of its capital stock pursuant to such merger or consolidation, except any such merger or consolidation involving Newco or a subsidiary of Newco in which the holders of shares of capital stock of Newco
outstanding immediately prior to such merger or consolidation continue to hold, or whose shares of capital stock of Newco are converted into or exchanged for shares of capital stock that represent, immediately following such merger or consolidation,
a majority, by voting power, of the capital stock of (A) the surviving or resulting corporation or other entity or (B) if the surviving or resulting corporation or other entity is a wholly-owned subsidiary of another corporation or other
entity immediately following such merger or consolidation, the parent corporation or other entity of such surviving or resulting corporation or other entity, (b) the sale, lease, transfer, exclusive license or other disposition, in a single
transaction or series of related transactions, by Newco or any subsidiary of Newco of all or substantially all the assets of Newco and its subsidiaries taken as a whole, or the sale or disposition (whether by merger, consolidation or otherwise) of
one or more subsidiaries of Newco if substantially all of the assets of Newco and its subsidiaries taken as a whole are held by such subsidiary or subsidiaries, except where such sale, lease, transfer, exclusive license or other disposition is to a
wholly-owned subsidiary of Newco or (c) the acquisition by any Person (other than GE or an Affiliate thereof) of a majority of the outstanding Equity Securities (as defined in the LLC Agreement) of Newco entitled to vote generally in the
election of directors to the Board. In the event a Newco Change of Control Transaction that occurs after (but not upon) the Trigger Date and that is approved by the Board after (but not upon) the Trigger Date and, to the extent required by
applicable Law or the certificate of incorporation of Newco, the holders of Newco’s common stock, each Holder shall take all action reasonably necessary or appropriate to cause all Paired Interests held by such Holder to be exchanged for shares
of Class A Common Stock prior to (but which exchange may be contingent on) the consummation of such Newco Change of Control Transaction. 

Section 2.05. Listing of Deliverable Common Stock. Newco shall use its reasonable best efforts to cause all Class A Common
Stock issued upon an Exchange to be listed on the same national securities exchange upon which the outstanding Class A Common Stock may be listed or traded at the time of such issuance. 

Section 2.06. Deliverable Common Stock to be Issued; Capital Structure; Cancellation of Paired Units. 

(a) Newco shall at all times reserve and keep available out of its authorized but unissued Class A Common Stock, solely for the purpose of
issuance upon an Exchange, the maximum number of shares of Deliverable Common Stock as shall be deliverable upon Exchange of all then-outstanding Paired Interests and shall take such other actions as are necessary to preserve the ratio between the
number of shares of Class A Common Stock and the number of Common Units owned by Newco then-outstanding so that such ratio equals the Exchange Rate; provided, however, that nothing contained herein shall be construed to preclude
Newco or the Company from satisfying its obligations in respect of an Exchange by delivery of shares of Deliverable Common Stock that are held in the treasury of Newco or any of its subsidiaries or by delivery of purchased shares of Deliverable
Common Stock (which may or may not be held in the treasury of Newco or any subsidiary thereof). Newco and the Company represent, warrant and covenant that all shares of Deliverable Common Stock issued upon an Exchange will, upon issuance thereof, be
validly issued, fully paid and non-assessable. 

  
 13 

 (b) Newco and the Company shall take all actions necessary so that, at all times for so long as
this Agreement is in effect, subject to Section 2.03, the number of Common Units outstanding equals the aggregate number of shares of Class A Common Stock and Class B Common Stock outstanding, except to the extent that any
difference arises as a result of (i) repurchases or redemptions of shares of Class A Common Stock by Newco and there is no corresponding repurchase or redemption of Common Units by Newco LLC pursuant to Section 3.11 of the LLC
Agreement or (ii) Newco Group Members (or Newco and GE Group Members) purchasing or receiving more Common Units pursuant to Section 3.04(b) or Section 3.04(c) of the LLC Agreement. Newco shall not in any manner effect any subdivision
(by any stock split, stock dividend or distribution, reclassification, reorganization, recapitalization or otherwise) or combination (by reverse stock split, reclassification, reorganization, recapitalization or otherwise) of the shares of
Class A Common Stock or Class B Common Stock, unless the Company simultaneously effects a subdivision or combination of the Common Units with an identical ratio. The Company shall not in any manner effect any subdivision (by any unit split,
unit dividend or distribution, reclassification, reorganization, recapitalization or otherwise) or combination (by reverse unit split, reclassification, reorganization, recapitalization or otherwise) of the Common Units, unless Newco simultaneously
effects a subdivision or combination of the shares of Class A Common Stock and Class B Common Stock with an identical ratio. 
 (c) When
a Paired Interest has been Exchanged in accordance with this Agreement, (i) the share of Class B Common Stock constituting a component of such Paired Interest shall be cancelled by Newco and (ii) the Common Unit constituting a component of
such Paired Interest shall be (A) deemed transferred from the Exchanging Holder to Newco and, if the Exchange was made for a Cash Exchange Payment, such Common Unit shall be redeemed (or cancelled and deemed redeemed) by the Company. 

Section 2.07. Distributions. No Exchange shall impair the right of the Exchanging Holder to receive any distributions payable on
the Common Units so exchanged in respect of a record date that occurs prior to the Exchange Date for such Exchange. No adjustments in respect of dividends or distributions on any Common Unit will be made on the Exchange of any Paired Interest, and
if the Exchange Date with respect to a Common Unit occurs after the record date for the payment of a dividend or other distribution on Common Units but before the date of the payment, then the registered Holder of the Common Unit at the close of
business on the record date will be entitled to receive the dividend or other distribution payable on the Common Unit on the payment date notwithstanding the Exchange of the Paired Interests or a default in payment of the dividend or distribution
due on the Exchange Date, and, for the avoidance of doubt, no Exchanging Holder shall have the right to receive any distributions (including tax distributions) on any exchanged Common Unit with a record date that occurs from and after any Exchange
Date provided, that an Exchanging Holder shall have the right to receive a distribution with respect to the exchanged Common Units immediately prior to the Exchange to the extent that the Exchanging Holder (i) did not receive its
Percentage Interest of a Tax Distribution (each as defined in the LLC Agreement) with respect to such Common Units pursuant to Section 4.01(b)(ii) of the LLC Agreement and (ii) has not received any additional distributions to compensate
for the shortfall in the Tax Distributions with respect to such Common Units between the applicable Tax Distribution Date (as defined in the LLC Agreement) and the Exchange Date, in an amount equal to such shortfall. For the avoidance of doubt, the
Exchanging Holder shall not be entitled to receive, in respect of a single record date, distributions or dividends both on Common Units exchanged by the Exchanging Holder and on shares of Deliverable Common Stock received by the Exchanging Holder in
such Exchange. 

  
 14 

 ARTICLE III 

REPRESENTATIONS AND WARRANTIES 

Section 3.01. Representations and Warranties of Newco and of the Company. 

(a) Each of Newco and the Company represents and warrants that (i) it is a corporation or limited liability company duly incorporated or
formed, as applicable, and is existing in good standing under the laws of the State of Delaware, (ii) it has all requisite corporate or limited liability company power, as applicable, and authority to enter into and perform this Agreement and
to consummate the transactions contemplated hereby and, in the case of Newco, to issue the Deliverable Common Stock in accordance with the terms hereof, (iii) the execution and delivery of this Agreement by it and the consummation by it of the
transactions contemplated hereby (including, in the case of Newco, the issuance of the Deliverable Common Stock) have been duly authorized by all necessary corporate or limited liability company action on its part, as applicable, and (iv) this
Agreement constitutes a legal, valid and binding obligation of it enforceable against it in accordance with its terms, except as enforcement may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar
laws relating to or limiting creditors’ rights generally. 
 (b) Each of Newco and the Company represents that it does not have any
contracts, other agreements, duties or obligations that are inconsistent with its duties and obligations under this Agreement and covenants that, except as expressly permitted by this Agreement, the LLC Agreement or the Stockholders Agreement, it
will not enter into any contracts or other agreements or undertake or acquire any other duties or obligations that are inconsistent with such duties and obligations. 

Section 3.02. Representations and Warranties of GE. GE represents and warrants that (i) it is duly incorporated and is in
good standing under the laws of the State of New York, (ii) it has all requisite legal capacity and authority to enter into and perform this Agreement and to consummate the transactions contemplated hereby, (iii) the execution and delivery
of this Agreement by it and the transactions contemplated hereby have been duly authorized by all necessary corporate action on the part of GE and (iv) this Agreement constitutes a legal, valid and binding obligation of GE enforceable against
it in accordance with its terms, except as enforcement may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or limiting creditors’ rights generally. 

ARTICLE IV 

MISCELLANEOUS 

Section 4.01. Additional Holders. 

To the extent that a Holder validly transfers any or all of its Common Units, Class B Common Stock or Paired Interests to another Person in a
transaction in accordance with, and not in contravention of, the LLC Agreement, the Stockholders Agreement or the Registration Rights Agreement, as applicable, if such transferee holds any Paired Interest as a result of the transfer, then such
transferee (each, a “Permitted Transferee”) shall have the right, in connection with such transaction, to execute and deliver a joinder to this Agreement, substantially in the form of Exhibit B hereto, whereupon such
Permitted Transferee shall become a Holder hereunder. 

  
 15 

 Section 4.02. Further Assurances. Each party hereto agrees to execute, acknowledge,
deliver, file and record such further certificates, amendments, instruments and documents, and to do all such other acts and things, as may be required by law or as, in the reasonable judgment of Newco and the Company, may be necessary or advisable
to carry out the intent and purposes of this Agreement. 
 Section 4.03. Notices. All notices, requests and other communications
to any party hereunder shall be in writing (including e-mail transmission, so long as a receipt of such e-mail is requested and received by non-automated response). All such notices, requests and other communications shall be deemed received on the
date of receipt by the recipient thereof if received prior to 5:00 p.m. on a business day in the place of receipt. Otherwise, any such notice, request or communication shall be deemed to have been received on the next succeeding business day in the
place of receipt. All such notices, requests and other communications to any party hereunder shall be given to such party as follows: 
 (a)
if to Newco or the Company to: 
 Baker Hughes, a GE company 

17021 Aldine Westfield Road 

Houston, Texas 77073 

	 	Attention:	William D. Marsh 

	 	Telephone:	(713) 879-1257 

	 	Facsimile:	(713) 439-8472 

	 	E-mail:	will.marsh@bhge.com 

 (b) if to GE, to: 

General Electric Company 
 41
Farnsworth Street 
 Boston, Massachusetts 02210 

	 	Attention:	James M. Waterbury 

	 	Email:	jim.waterbury@ge.com 

 Section 4.04. Binding Effect. The provisions of this
Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns. No provision of this Agreement is intended to confer any rights, benefits, remedies, obligations or
liabilities hereunder upon any Person other than the parties hereto and their respective successors and permitted assigns. 

  
 16 

 Section 4.05. Governing Law; Jurisdiction; Specific Performance; WAIVER OF JURY
TRIAL. 
 (a) THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE WITHOUT GIVING
EFFECT TO ANY CHOICE OR CONFLICT OF LAW PROVISION OR RULE (WHETHER OF THE STATE OF DELAWARE OR ANY OTHER JURISDICTION) THAT WOULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF DELAWARE. 

(b) Each of the parties hereto irrevocably (i) consents to submit itself to the personal jurisdiction of the Court of Chancery of the
State of Delaware (the “Chancery Court”) or, if, but only if, the Chancery Court lacks subject matter jurisdiction, any federal court located in the State of Delaware with respect to any dispute arising out of, relating to or in
connection with this Agreement, (ii) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court, (iii) agrees that it will not bring any action arising out of,
relating to or in connection with this Agreement in any court other than the courts of the State of Delaware, as described above, and (iv) WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY AND ALL RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY
ACTION RELATED TO OR ARISING OUT OF THIS AGREEMENT. Nothing in this Section 4.05 shall prevent any party from bringing an action or proceeding in any jurisdiction to enforce any judgment of the Chancery Court or any federal court located
in the State of Delaware, as applicable. Each of the parties hereto hereby agrees that service of any process, summons, notice or document by U.S. registered mail to the respective addresses set forth in Section 4.03 shall be effective
service of process for any suit or proceeding in connection with this Agreement. 
 (c) The parties hereto agree that irreparable damage
would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. Each party agrees that, in the event of any breach or threatened breach by any other party
of any covenant or obligation contained in this Agreement, the non-breaching party shall be entitled (in addition to any other remedy that may be available to it whether in law or equity, including monetary damages) to (i) a decree or order of
specific performance to enforce the observance and performance of such covenant or obligation, and (ii) an injunction restraining such breach or threatened breach. 

Section 4.06. Counterparts; Electronic Transmission of Signatures. This 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 4.07. Assignment; No Third Party Beneficiaries. 

(a) This Agreement and all of the provisions hereto shall be binding upon and inure to the benefit of, and be enforceable by, the parties
hereto and their respective successors and permitted assigns, but neither this Agreement nor any of the rights, interests or obligations set forth herein shall be assigned by any party hereto without the prior written consent of the other parties
hereto and any purported assignment without such consent shall be void; provided, however, that the Agreement shall be assigned (in whole or in part, as applicable) to any Permitted Transferee to whom Common Units and shares of Class B
Common Stock are transferred in accordance with the LLC Agreement and the Stockholders Agreement. 

  
 17 

 (b) Nothing in this Agreement shall be construed as giving any Person, other than the parties
hereto and their heirs, successors, legal representatives and permitted assigns, any right, remedy or claim under or in respect of this Agreement or any provision hereof. 

Section 4.08. Expenses. Except as otherwise specifically provided herein, each party hereto shall bear its own expenses in
connection with this Agreement and the transactions contemplated hereby. 
 Section 4.09. Severability. If any provision of this
Agreement shall be held to be illegal, invalid or unenforceable under any applicable Law, then such contravention or invalidity shall not invalidate the entire Agreement. Such provision shall be deemed to be modified to the extent necessary to
render it legal, valid and enforceable, and if no such modification shall render it legal, valid and enforceable, then this Agreement shall be construed as if not containing the provision held to be invalid, and the rights and obligations of the
parties hereto shall be construed and enforced accordingly. 
 Section 4.10. Entire Agreement. This Agreement and, as
applicable, the other Ancillary Agreements (as defined in the Transaction Agreement), constitute the entire agreement among the parties with respect to the subject matter of this Agreement and supersede all prior agreements and understandings, both
oral and written, among the parties with respect to the subject matter of this Agreement. Nothing in this Agreement shall create any third-party beneficiary rights in favor of any Person. 

Section 4.11. Amendment. This Agreement may only be amended or modified, in whole or in part, at any time and from time to time by
a written instrument signed by (i) Newco, (ii) the Company, and (iii) GE. 
 Section 4.12. Waiver. Any failure of
any of the parties to comply with any obligation, representation, warranty, covenant, agreement or condition herein may be waived at any time by any of the parties entitled to the benefit thereof only by a written instrument signed by each such
party granting such waiver, but such waiver or failure to insist upon strict compliance with such obligation, representation, warranty, covenant, agreement or condition shall not operate as a waiver of or estoppel with respect to, any subsequent or
other failure. 
 Section 4.13. Tax Treatment. This Agreement shall be treated as part of the LLC Agreement as described in
Section 761(c) of the Code and Sections 1.704-1(b)(2)(ii)(h) and 1.761-1(c) of the Treasury Regulations promulgated thereunder. Unless otherwise required by applicable Law, the parties shall report an Exchange consummated hereunder as a
taxable sale of the Common Units and shares of Class B Common Stock by the Exchanging Holder, and no party shall take a contrary position on any income tax return or amendment thereof. 

[Signature Pages Follow] 

  
 18 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the
day and year first written above. 
  

			
	BAKER HUGHES, A GE COMPANY
		
	By:	 	 /s/ Lee Whitley

		 	Name: Lee Whitley
		 	Title: Corporate Secretary

 [Signature Page to the Exchange Agreement] 

 
			
	BAKER HUGHES, A GE COMPANY, LLC
		
	By:	 	 /s/ Lee Whitley

		 	Name: Lee Whitley
		 	Title: Corporate Secretary

 [Signature Page to the Exchange Agreement] 

 
			
	GENERAL ELECTRIC COMPANY
		
	By:	 	 /s/ James M. Waterbury

		 	Name: James M. Waterbury
		 	Title: Vice President

 [Signature Page to the Exchange Agreement] 

 EXECUTION VERSION 

JOINDER AGREEMENT 
 This Joinder
Agreement (“Joinder Agreement”) is a joinder to the Exchange Agreement, dated as of July 3, 2017 (as amended from time to time, the “Agreement”), by and among Baker Hughes, a GE company, LLC, a Delaware limited
liability company (the “Company”), Baker Hughes, a GE company, a Delaware corporation (“Newco”), and General Electric Company, a New York corporation (“GE”). Capitalized terms used but not defined
in this Joinder Agreement shall have the meanings given to them in the Agreement. This Joinder Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of law rules of such
State that would result in the application of the laws of any other State. In the event of any conflict between this Joinder Agreement and the Agreement, the terms of this Joinder Agreement shall control. 

The undersigned, having acquired shares of Class B Common Stock and Common Units, hereby joins and enters into the Agreement. By signing
and returning this Joinder Agreement to Newco, the undersigned (i) accepts and agrees to be bound by and subject to all of the terms and conditions of and agreements of a Holder contained in the Agreement, with all attendant rights, duties and
obligations of a Holder thereunder and (ii) makes each of the representations and warranties of a Holder set forth in Section 3.02 of the Agreement as fully as if such representations and warranties were set forth herein. The parties to
the Agreement shall treat the execution and delivery hereof by the undersigned as the execution and delivery of the Agreement by the undersigned and, upon receipt of this Joinder Agreement by Newco and by the Company, the signature of the
undersigned set forth below shall constitute a counterpart signature to the signature page of the Agreement. 
  

			
	Name:	  	James M. Waterbury
		
	Address for Notices:            	  	GE HOLDINGS (US), INC.
		  	901 Main Avenue
		  	Norwalk, CT 06851-1168

 [Signature Page Follows] 

 EXECUTION VERSION 

IN WITNESS WHEREOF, the undersigned, by authority duly given, has caused this Joinder Agreement to be executed and delivered by the
undersigned or by its duly authorized attorney. 
  

			
	GE HOLDINGS (US), INC.
		
	By:	 	 /s/ Victoria Vron

		 	Name: Victoria Vron
		 	Title: Vice President

 [Signature Page to the Joinder Agreement to the Exchange Agreement (GE Holdings (US), Inc.)] 

 JOINDER AGREEMENT 

This Joinder Agreement (“Joinder Agreement”) is a joinder to the Exchange Agreement, dated as of July 3, 2017 (as
amended from time to time, the “Agreement”), by and among Baker Hughes, a GE company, LLC, a Delaware limited liability company (the “Company”), Baker Hughes, a GE company, a Delaware corporation
(“Newco”), and General Electric Company, a New York corporation (“GE”). Capitalized terms used but not defined in this Joinder Agreement shall have the meanings given to them in the Agreement. This Joinder Agreement
shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of law rules of such State that would result in the application of the laws of any other State. In the event of any conflict
between this Joinder Agreement and the Agreement, the terms of this Joinder Agreement shall control. 
 The undersigned, having acquired
shares of Class B Common Stock and Common Units, hereby joins and enters into the Agreement. By signing and returning this Joinder Agreement to Newco, the undersigned (i) accepts and agrees to be bound by and subject to all of the terms
and conditions of and agreements of a Holder contained in the Agreement, with all attendant rights, duties and obligations of a Holder thereunder and (ii) makes each of the representations and warranties of a Holder set forth in
Section 3.02 of the Agreement as fully as if such representations and warranties were set forth herein. The parties to the Agreement shall treat the execution and delivery hereof by the undersigned as the execution and delivery of the Agreement
by the undersigned and, upon receipt of this Joinder Agreement by Newco and by the Company, the signature of the undersigned set forth below shall constitute a counterpart signature to the signature page of the Agreement. 

 

			
	Name:	  	James M. Waterbury
	  

Address for Notices:        
	  	  
 GE OIL & GAS HOLDINGS IV, INC.

		  	191 Rosa Parks Street
		  	Cincinnati, OH 45202

 [Signature Page Follows] 

 EXECUTION VERSION 

IN WITNESS WHEREOF, the undersigned, by authority duly given, has caused this Joinder Agreement to be executed and delivered by the
undersigned or by its duly authorized attorney. 
  

			
	GE OIL & GAS US HOLDINGS IV, INC.
		
	By:	 	 /s/ Jessica Wenzell

		 	Name: Jessica Wenzell
		 	Title: Vice President

 [Signature Page to the Joinder Agreement to the Exchange Agreement (GE Holdings (US), Inc.)] 

 JOINDER AGREEMENT 

This Joinder Agreement (“Joinder Agreement”) is a joinder to the Exchange Agreement, dated as of July 3, 2017 (as
amended from time to time, the “Agreement”), by and among Baker Hughes, a GE company, LLC, a Delaware limited liability company (the “Company”), Baker Hughes, a GE company, a Delaware corporation
(“Newco”), and General Electric Company, a New York corporation (“GE”). Capitalized terms used but not defined in this Joinder Agreement shall have the meanings given to them in the Agreement. This Joinder Agreement
shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of law rules of such State that would result in the application of the laws of any other State. In the event of any conflict
between this Joinder Agreement and the Agreement, the terms of this Joinder Agreement shall control. 
 The undersigned, having acquired
shares of Class B Common Stock and Common Units, hereby joins and enters into the Agreement. By signing and returning this Joinder Agreement to Newco, the undersigned (i) accepts and agrees to be bound by and subject to all of the terms
and conditions of and agreements of a Holder contained in the Agreement, with all attendant rights, duties and obligations of a Holder thereunder and (ii) makes each of the representations and warranties of a Holder set forth in
Section 3.02 of the Agreement as fully as if such representations and warranties were set forth herein. The parties to the Agreement shall treat the execution and delivery hereof by the undersigned as the execution and delivery of the Agreement
by the undersigned and, upon receipt of this Joinder Agreement by Newco and by the Company, the signature of the undersigned set forth below shall constitute a counterpart signature to the signature page of the Agreement. 

 

			
	Name:	  	James M. Waterbury
		
	Address for Notices:        	  	GE OIL & GAS HOLDINGS I, INC.
		  	191 Rosa Parks Street
		  	Cincinnati, OH 45202

 [Signature Page Follows] 

 IN WITNESS WHEREOF, the undersigned, by authority duly given, has caused this Joinder Agreement
to be executed and delivered by the undersigned or by its duly authorized attorney. 
  

			
	GE OIL & GAS US HOLDINGS I, INC.
		
	By:	 	 /s/ Jessica Wenzell

		 	Name: Jessica Wenzell
		 	Title: Vice President

 [Signature Page to the Joinder Agreement to the Exchange Agreement (GE Holdings (US),
Inc.)]EX-10.2

 Exhibit 10.2 

TAX MATTERS AGREEMENT 

dated as of 
 July 3, 2017

 between 
 GENERAL ELECTRIC
COMPANY, 
 BAKER HUGHES, A GE COMPANY, 

EHHC NEWCO, LLC, 
 and 

BAKER HUGHES, A GE COMPANY, LLC 

 TABLE OF CONTENTS 

 

							
	ARTICLE I	 
	
	DEFINITIONS	 
	 Section 1.01
	 	Definitions	  	 	1	 
	
	ARTICLE II	 
	
	GENERAL ALLOCATION OF TAX LIABILITIES	 
			
	 Section 2.01
	 	Allocation of Taxes	  	 	12	 
	 Section 2.02
	 	Proration of Taxes for Straddle Periods	  	 	12	 
	
	ARTICLE III	 
	
	TAX RETURNS	 
			
	 Section 3.01
	 	GE Responsibility	  	 	13	 
	 Section 3.02
	 	Newco Responsibility	  	 	13	 
	 Section 3.03
	 	Election to File GE Combined Tax Returns	  	 	13	 
	 Section 3.04
	 	Preparation of Tax Returns	  	 	13	 
	
	ARTICLE IV	 
	
	POST-CLOSING TAX MATTERS	 
			
	 Section 4.01
	 	Allocation of GE Combined Group Tax Liability	  	 	15	 
	 Section 4.02
	 	Preparation of the Pro Forma Group Returns	  	 	15	 
	 Section 4.03
	 	Payments with Respect to Pro Forma Group Returns	  	 	16	 
	 Section 4.04
	 	Pro Forma Group Returns Certifications	  	 	16	 
	
	ARTICLE V	 
	
	SHARED TAX BENEFITS	 
			
	 Section 5.01
	 	Allocation of Shared Tax Benefits	  	 	17	 
	 Section 5.02
	 	Shared Tax Benefit Definitions	  	 	17	 
	 Section 5.03
	 	Determination of Shared Tax Benefits	  	 	18	 
	 Section 5.04
	 	Determination of Payments for Structure Benefits and BHI Tax Benefits	  	 	19	 
	 Section 5.05
	 	Payment of Exchange Benefits	  	 	20	 
	
	ARTICLE VI	 
	
	INDEMNITY	 
			
	 Section 6.01
	 	Indemnities	  	 	21	 
	 Section 6.02
	 	Payments	  	 	22	 
	 Section 6.03
	 	Tax Refunds	  	 	23	 
	 Section 6.04
	 	Rebalancing Payments	  	 	23	 
	 Section 6.05
	 	Timing of Payments	  	 	24	 
	 Section 6.06
	 	No Duplicative Payments	  	 	24	 
	 Section 6.07
	 	Late Payments	  	 	24	 

  
 ii 

							
	
	ARTICLE VII	 
	
	ASSISTANCE AND COOPERATION	 
			
	 Section 7.01
	 	Assistance and Cooperation	  	 	24	 
	 Section 7.02
	 	Tax Information	  	 	25	 
	 Section 7.03
	 	Confidentiality	  	 	25	 
	
	ARTICLE VIII	 
	
	REPRESENTATIONS, COVENANTS AND ADDITIONAL TAX MATTERS	 
			
	 Section 8.01
	 	Newco LLC Representations and Covenants	  	 	25	 
	 Section 8.02
	 	Section 754 Election	  	 	26	 
	 Section 8.03
	 	Section 704(c) Methods	  	 	26	 
	 Section 8.04
	 	Sole Tax Sharing Agreement	  	 	26	 
	 Section 8.05
	 	Dispute Resolution	  	 	27	 
	 Section 8.06
	 	Change in Tax Law	  	 	27	 
	
	ARTICLE IX	 
	
	TAX CONTESTS	 
			
	 Section 9.01
	 	Notice	  	 	27	 
	 Section 9.02
	 	Control of Tax Contests	  	 	28	 
	
	ARTICLE X	 
	
	GENERAL PROVISIONS	 
			
	 Section 10.01
	 	Notices	  	 	29	 
	 Section 10.02
	 	Binding Effect	  	 	30	 
	 Section 10.03
	 	Governing Law	  	 	30	 
	 Section 10.04
	 	Counterparts; Electronic Transmission of Signatures	  	 	30	 
	 Section 10.05
	 	Assignment; No Third-Party Beneficiaries	  	 	30	 
	 Section 10.06
	 	Severability	  	 	31	 
	 Section 10.07
	 	Entire Agreement	  	 	31	 
	 Section 10.08
	 	Amendments	  	 	31	 
	 Section 10.09
	 	Waiver	  	 	31	 
	 Section 10.10
	 	Creditors	  	 	31	 
	 Section 10.11
	 	Further Action	  	 	31	 
	 Section 10.12
	 	Right of Offset	  	 	31	 
	 Section 10.13
	 	Descriptive Headings; Interpretation	  	 	32	 
	 Section 10.14
	 	LLC Agreement	  	 	32	 

 SCHEDULE A 

SCHEDULE 8.01 
 EXHIBIT A 

  
 iii 

 TAX MATTERS AGREEMENT 

This TAX MATTERS AGREEMENT (this “Agreement”), dated as of July 3, 2017, is entered into by and among General Electric
Company, a New York corporation (“GE”), Baker Hughes, a GE company, a Delaware corporation (formerly known as Bear Newco, Inc.) (“Newco”), EHHC NewCo LLC, a Delaware limited liability company and a wholly owned
subsidiary of Newco (“EHHC”), and Baker Hughes, a GE company, LLC, a Delaware limited liability company (“Newco LLC”). 

WHEREAS pursuant to that certain Transaction Agreement and Plan of Merger, dated October 30, 2016, among GE, Baker Hughes Incorporated, a
Delaware corporation (“BHI”), Newco, and Bear MergerSub, Inc., a Delaware corporation (“Merger Sub”), as amended by the Amendment to Transaction Agreement and Plan of Merger, dated as of March 27, 2017, among
GE, BHI, Newco, Merger Sub, BHI Newco, Inc., a Delaware corporation, and Bear MergerSub 2, Inc., a Delaware corporation (as may be further amended from time to time, the “Transaction Agreement”), GE and BHI have agreed to combine GE
O&G with BHI and have effected or agreed to effect the Transactions (as defined in the Transaction Agreement); 
 WHEREAS, GE, GE
Holdings (US), Inc., a Delaware corporation, GE Oil & Gas US Holdings I, Inc., a Delaware corporation, GE Oil & Gas US Holdings IV, Inc., a Delaware corporation, EHHC, CFC Holdings, LLC a Delaware limited liability company and a
wholly owned subsidiary of Newco, and Newco LLC have entered into the Amended and Restated Limited Liability Company Agreement, dated as of July 3, 2017 (the “LLC Agreement”), pursuant to which EHHC is the Managing Member and
Tax Matters Partner of Newco LLC (as such terms are defined in the LLC Agreement); and 
 WHEREAS, GE, Newco, EHHC and Newco LLC desire to
enter into this Agreement in order to set forth their agreement as to (i) the administration and allocation between the parties of Tax liabilities and benefits arising prior to, as a result of, and subsequent to the Transactions and certain
restructuring transactions in connection therewith and (ii) various other Tax matters. 
 NOW, THEREFORE, in consideration of the
mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, GE, Newco, EHHC and Newco LLC, intending to be legally bound, hereby agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.01 Definitions. 

The following definitions shall be applied to the terms used in this Agreement for all purposes, unless otherwise clearly indicated to the
contrary. 
 “752 GE Sharing Amount” has the meaning set forth in Section 5.04(c)Section 5.04(a) of this
Agreement. 

  
 1 

 “752 Year” has the meaning set forth in Section 5.04(c)Section
5.04(a) of this Agreement. 
 “Agreement” has the meaning set forth in the preamble to this Agreement. 

“Allocable Share” means the percentage of membership interests of Newco LLC collectively held by the members of the GE Group,
on the one hand, and the members of the Newco Group, on the other hand, at the time of the allocation of the relevant Shared Tax Benefits pursuant to Section 5.01. The Allocable Share of the GE Group as of the date hereof shall be 62.5%
and the Allocable Share of the Newco Group as of the date hereof shall be 37.5%. 
 “Basis Adjustment” means (a) the
increase or decrease to, or the Newco Group’s share of, the tax basis of the Reference Assets (i) under Sections 734(b), 743(b), 754 and 755 of the Code and, in each case, the comparable sections of U.S. state and local tax law (in
situations where, following an Exchange, Newco LLC remains in existence as an entity for U.S. federal income tax purposes) and (ii) under Sections 732 and 1012 of the Code and, in each case, the comparable sections of U.S. state and local tax
law (in situations where, as a result of one or more Exchanges, Newco LLC becomes an entity that is disregarded as separate from its owner for U.S. federal income tax purposes), and (b) the amount of any immediate expense or deduction of the
Newco Group for U.S. federal, state or local tax purposes based on the cost or value of a Common Unit or the properties of the Newco LLC Group attributable thereto, in each case, as a result of any Exchange and any payments made under
Section 5.05. 
 “Beneficial Owner” means, with respect to any security, a Person who directly or indirectly,
through any contract, arrangement, understanding, relationship or otherwise, has or shares: (i) voting power, which includes the power to vote, or to direct the voting of, with respect to such security and/or (ii) investment power, which
includes the power to dispose of, or to direct the disposition of, such security. 
 “BHI” has the meaning set forth in the
recitals of this Agreement. 
 “BHI Tax Benefits” has the meaning set forth in Section 5.02(b) of this
Agreement. 
 “Book/Tax Difference Asset” means an asset that is (a) held at the relevant time by Newco LLC for U.S.
federal income tax purposes (or any partnership in which Newco LLC holds a direct interest or an indirect interest through one or more pass-through entities) at a Gross Asset Value (as defined in the LLC Agreement) that differs from its adjusted tax
basis for U.S. federal income tax purposes and (b)(i) a Newco Group Contributed Asset, (ii) a GE Group Contributed Asset or (iii) acquired by Newco LLC for U.S. federal income tax purposes (or any partnership in which Newco LLC holds a
direct interest or an indirect interest through one or more pass-through entities) after the Closing Date. 
 “Business
Day” means a day other than Saturday, Sunday or a day on which banks located in New York, New York are authorized or required by applicable Law to close. 

“Certifications” has the meaning set forth in Section 5.03(c)Section 5.04(a) of this Agreement. 

  
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 “Class A Common Stock” means the Class A common stock, $0.0001 par value
per share, of Newco. 
 “Class B Common Stock” means the Class B common stock, $0.0001 par value per share, of Newco. 

“Closing Date” has the meaning set forth in the Transaction Agreement. 

“Code” means the United States Internal Revenue Code of 1986, as amended. 

“Common Units” has the meaning set forth in the LLC Agreement. 

“Conflicts Committee” has the meaning set forth in the Stockholders Agreement. 

“Credit Event” means the occurrence of any of the following events: (a) an involuntary proceeding shall be commenced or
an involuntary petition shall be filed seeking (i) liquidation, reorganization or other relief in respect of any member of the Newco Group or its debts, or of a substantial part of its assets, under any federal, state or non-U.S. bankruptcy,
insolvency, receivership or similar law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for any member of the Newco Group or for a substantial part of its
assets, and, in any such case, such proceeding or petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; (b) any member of the Newco Group shall (i) voluntarily
commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any federal, state or non-U.S. bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the
institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (a) above, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or
similar official for any member of the Newco Group or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the
benefit of creditors or (vi) take any action for the purpose of effecting any of the foregoing; or (c) any member of the Newco Group engages in any other action or fails to take any action that constitutes an ‘event of default’
under any indebtedness or guarantee having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $200 million if
such event of default is not waived by the applicable creditor or cured by the applicable member of the Newco Group within 30 days of its occurrence. 

In the event that either Newco or GE becomes aware of an event described in clause (c), such party shall provide written notice to the other
party. If the event described in clause (c) is cured within ten (10) days of receipt of such written notice, such event shall not constitute a Credit Event. 

“Default Rate” means a rate per annum equal to LIBOR plus 500 basis points. 

  
 3 

 “Determination” means the final resolution of liability for any Tax for any
Taxable Year by or as a result of (1) a final and unappealable decision, judgment, decree or other order of a court of competent jurisdiction; (2) a final settlement, compromise or other agreement with the relevant Taxing Authority, an
agreement that constitutes a determination under Section 1313(a)(4) of the Code, an agreement contained in an IRS Form 870-AD, a closing agreement or accepted offer in compromise under Section 7121 or 7122 of the Code, or a comparable
agreement under state, local or foreign law; (3) the expiration of the applicable statute of limitations; or (4) payment of such Tax, if assessed by a Taxing Authority, pursuant to an agreement in writing by the applicable member of the GE
Group, Newco Group or Newco LLC Group to accept such assessment. 
 “Determination Date” has the meaning set forth in
Section 6.04(a) of this Agreement. 
 “Distribution” has the meaning set forth in the LLC Agreement. 

“EHHC” has the meaning set forth in the recitals to this Agreement. 

“Excess Structure Benefits” has the meaning set forth in Section 5.01(a)(ii) of this Agreement. 

“Exchange” has the meaning set forth in the Exchange Agreement. 

“Exchange Act” means the Securities and Exchange Act of 1934, as amended, or any successor provisions thereto. 

“Exchange Agreement” means the Exchange Agreement, dated as of July 3, 2017, among GE, Newco and Newco LLC. 

“Exchange Benefits” has the meaning set forth in Section 5.02(d) of this Agreement. 

“Formation Taxes” shall mean any and all Taxes imposed on any member of a Group with respect to any Formation Transaction to
the extent that such Tax would not have been imposed if GE had transferred all of GE O&G to Newco in exchange for stock of Newco (and BHI’s shareholders were treated as contributing their BHI shares to Newco in exchange for stock of Newco)
in a transaction qualifying under Section 351 of the Code, including any Taxes arising by reason of (A) the acceleration or triggering of deferred intercompany transactions and excess loss accounts under Treas. Reg. §§ 1.1502-13
and 1.1502-19, respectively, (B) prepaid expenses, (C) deferred revenue, (D) the acceleration of adjustments under Section 481 of the Code and (E) any other items that are accelerated by reason of any Formation Transaction
or for which the income or gain has economically accrued prior to the Closing Date and for which an item of income or gain is recognized by reason of the formation of Newco LLC. 

“Formation Transactions” shall mean (i) any transactions contemplated by the Transaction Agreement, and (ii) any
restructuring transactions in furtherance thereof that are undertaken by the Newco Group or by the GE Group, in each case, including the GE Reorganization (as defined in the Transaction Agreement), the BHI Reorganization (as defined in the
Transaction Agreement) and the Schedule A Transactions. For the avoidance of doubt, an Exchange shall not be treated as a Formation Transaction. 

“GE” has the meaning set forth in the recitals to this Agreement. 

  
 4 

 “GE Combined Group” shall mean any group that filed or was required to file (or
will file or be required to file) a Tax Return on an affiliated, consolidated, combined, unitary, fiscal unity or other group basis (including as permitted by Section 1501 of the Code) that includes at least one member of the GE Group and at
least one member of the Newco Group or the Newco LLC Group. 
 “GE Combined Tax Return” shall mean any Tax Return filed by
a GE Combined Group. 
 “GE Consolidated Tax Return” shall mean a Tax Return filed in respect of the affiliated group of
corporations for which GE is the common parent within the meaning of Section 1504(a) of the Code that has elected to file consolidated U.S. federal income tax returns. 

“GE Formation Taxes” means Formation Taxes imposed on a member of the GE Group as reduced by any and all Tax benefits arising
from any Formation Transaction (that could have resulted in Formation Taxes) undertaken by the GE Group, as applicable, to the extent that such Tax benefit would offset (in amount and character) any Formation Taxes reflected on the same Tax Return
(for this purpose, solely taking into account such Formation Transactions on the applicable Tax Return). 
 “GE Group”
means GE and its Subsidiaries, excluding for any Post-Closing Period any entity that is a member of the Newco LLC Group or the Newco Group. 

“GE Group Contributed Asset” means any asset contributed (or deemed contributed for U.S. federal income tax purposes) to
Newco LLC by a member of the GE Group, including any asset held by an entity that is treated as a partnership for U.S. federal income tax purposes the equity of which is contributed (or deemed contributed for U.S. federal income tax purposes) to
Newco LLC by a member of the GE Group. 
 “GE Indemnified Newco/Newco LLC Returns” has the meaning set forth in
Section 6.04(a) of this Agreement. 
 “GE O&G” has the meaning set forth in the Transaction Agreement. 

“GE O&G Subsidiary” has the meaning set forth in the Transaction Agreement, as determined on the date hereof. 

“GE Restructuring Taxes” has the meaning set forth in Section 2.01(a)(i) of this Agreement. 

“GE Separate Tax Return” shall mean any Tax Return that is required to be filed by, or with respect to, a member of the GE
Group that is not a GE Combined Tax Return. 
 “GE Structure Benefits” has the meaning set forth in Section 5.01(a)(i)
of this Agreement. 
 “Governmental Entity” means any U.S. 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. 

  
 5 

 “Group” means the GE Group, the Newco LLC Group or the Newco Group, or all of
them, as the context requires. 
 “Income Tax” means any Tax that is based upon, measured by, or calculated with respect
to: (i) net income or profits or net receipts (including, but not limited to, any capital gains, minimum Tax, or any Tax on items of Tax preference, but not including sales, use, real or personal property, value added, escheat, excise or
transfer or similar Taxes) or (ii) multiple bases (including franchise, doing business and occupation Taxes) if one or more bases upon which such Tax may be based, measured by, or calculated with respect to, is described in clause (i). 

“Indemnified Newco 752 Liability” means any Newco 752 Liability other than any Newco 752 Liability (i) arising after the
Trigger Date or (ii) resulting from a Credit Event. 
 “Independent Arbiter” has the meaning set forth in
Section 6.04(a) of this Agreement. 
 “Intended Tax Treatment” means, with respect to each Schedule A
Transaction, the tax consequences or treatment (if any) set forth for such Schedule A Transaction on Schedule A. 

“Joinder” means a joinder to this Agreement, in the form attached as Exhibit A to this Agreement. 

“Law” means any federal, state or local law (statutory, common or otherwise), constitution, treaty, convention, ordinance,
code, rule, regulation, order, injunction, judgment, decree, ruling or other similar requirement enacted, adopted, promulgated or applied by a Governmental Entity. 

“LIBOR” means during any period, a rate per annum equal to the ICE LIBOR rate for a period of one month (“ICE
LIBOR”), as published on the applicable Bloomberg screen page (or such other commercially available source providing quotations of ICE LIBOR as may be designated by the Corporation from time to time) at approximately 11:00 a.m., London
time, two (2) Business Days prior to the commencement of such period, for dollar deposits (for delivery on the first day of such period) with a term equivalent to such period. 

“LLC Agreement” has the meaning set forth in the recitals to this Agreement. 

“Managing Member” has the meaning set forth in the LLC Agreement. 

“Market Value” shall mean the Closing Price (as defined in the LLC Agreement). 

“Material Breach Payment” has the meaning set forth in Section 5.05(f) of this Agreement. 

“Member” has the meaning set forth in the LLC Agreement. 

“Methods” has the meaning set forth in Section 6.04(a) of this Agreement. 

“Newco” has the meaning set forth in the recitals to this Agreement. 

  
 6 

 “Newco 752 Liability” means any Tax liability imposed on the Newco Group
pursuant to Section 752 and Section 731 of the Code within the five-year period following the Closing Date as a result of the reduction of the share of Newco LLC liabilities of a Member of the Newco Group for purposes of Section 752
of the Code and the Treasury Regulations promulgated thereunder; provided, however, that the aggregate Newco 752 Liability shall not exceed the Newco Group Tax liability that would have resulted if all of Newco LLC’s liabilities were
repaid immediately after the Closing. 
 “Newco Change of Control Transaction” has the meaning set forth in the Exchange
Agreement. 
 “Newco Combined Group” shall mean any group that filed or was required to file (or will file or be required
to file) a Tax Return on an affiliated, consolidated, combined, unitary, fiscal unity or other group basis (including as permitted by Section 1501 of the Code) that includes at least one member of the Newco Group and at least one member of the
Newco LLC Group, other than any GE Combined Group. 
 “Newco Combined Tax Return” shall mean any Tax Return filed by a
Newco Combined Group. 
 “Newco Consolidated Tax Return” shall mean a Tax Return filed with respect to the affiliated group
of corporations for which Newco is the common parent within the meaning of Section 1504(a) of the Code that has elected to file consolidated U.S. federal income tax returns. 

“Newco Formation Taxes” means the increase in cash Taxes that would have been payable by the Newco Group and the Newco LLC
Group (calculated on a “with and without” basis) (i) as a result of the imposition of Formation Taxes and (ii) assuming the Taxable Year of each relevant Member of the Newco Group and the Newco LLC Group ended on and included the
Closing Date (with any required proration made in accordance with Section 2.02). 
 “Newco Group” means Newco
and its Subsidiaries (x) excluding for any Post-Closing Period any entity that is a member of the Newco LLC Group and (y) including for any Pre-Closing Period, BHI and its Subsidiaries (for the avoidance of doubt, whether or not BHI and
its Subsidiaries are Subsidiaries of Newco). 
 “Newco Group Contributed Asset” means any asset contributed (or deemed
contributed for U.S. federal income tax purposes) to Newco LLC by a member of the Newco Group, including any asset held by an entity that is treated as a partnership for U.S. federal income tax purposes the equity of which is contributed (or deemed
contributed for U.S. federal income tax purposes) to Newco LLC by a member of the Newco Group. For the avoidance of doubt, Newco Group Contributed Asset shall include any asset held (or deemed held for U.S. federal income tax purposes) by Baker
Hughes International Partners Holding SCS or by any entity that is treated as a partnership for U.S. federal income tax purposes the equity of which was held by Baker Hughes International Partners Holding SCS (directly or indirectly through one or
more pass-through entities) immediately prior to the Closing Date. 
 “Newco LLC” has the meaning set forth in the recitals
to this Agreement. 

  
 7 

 “Newco LLC Group” means Newco LLC and its Subsidiaries. 

“Newco LLC Indemnified GE Returns” has the meaning set forth in Section 6.04(a) of this Agreement. 

“Newco LLC Separate Tax Return” shall mean any Tax Return that is required to be filed by, or with respect to, a member of
the Newco LLC Group that is not a GE Combined Tax Return or a Newco Combined Tax Return. 
 “Newco Separate Tax Return”
shall mean any Tax Return that is required to be filed by, or with respect to, a member of the Newco Group that is not a GE Combined Tax Return or a Newco Combined Tax Return. 

“Optional GE Combined Group” has the meaning set forth in Section 6.04(a) of this Agreement. 

“Original Tax Return” has the meaning set forth in Section 6.04(a) of this Agreement. 

“Past Practices” has the meaning set forth in Section 3.04(a) of this Agreement. 

“Person” means an individual, corporation, partnership, joint venture, association, trust, unincorporated organization,
limited liability company or governmental or other entity. 
 “Post-Closing Period” means any Taxable Year beginning after
the Closing Date, and, in the case of any Straddle Period, the portion of such Straddle Period beginning after the Closing Date. 

“Preparing Party” has the meaning set forth in Section 3.04(e) of this Agreement. 

“Pre-Closing Period” means any Taxable Year ending on or before the Closing Date, and, in the case of any Straddle Period,
the portion of such Straddle Period ending on the Closing Date. 
 “Pre-Closing Taxes” means any Taxes with respect to a
Pre-Closing Period. 
 “Pro Forma Group Return” has the meaning set forth in Section 4.02(a) of this Agreement. 

“Pro Forma Tax Liability” has the meaning set forth in Section 4.03(a) of this Agreement. 

“Pro Forma Utilized Loss” has the meaning set forth in Section 4.03(b) of this Agreement. 

“Rebalancing Payments” has the meaning set forth in Section 6.04 of this Agreement. 

  
 8 

 “Reference Asset” means any asset owned by Newco LLC, any member of the Newco
LLC Group that is owned through a chain of pass-through entities and is classified as a partnership for U.S. federal income tax purposes, and any member of the Newco LLC Group that is owned through a chain of pass-through entities and is classified
as a disregarded entity for U.S. federal income tax purposes, in each case, at the time of an Exchange. A Reference Asset also includes any asset the tax basis of which is determined, in whole or in part, by reference to the tax basis of an asset
that is described in the preceding sentence, including “substituted basis property” within the meaning of Section 7701(a)(42) of the Code. 

“Refund Recipient” has the meaning set forth in Section 5.02 of this Agreement. 

“Related Party Transaction Policy” has the meaning set forth in the Stockholders Agreement. 

“Reviewed Return” has the meaning set forth in Section 6.04(a) of this Agreement. 

“Reviewed Return Certifications” has the meaning set forth in Section 6.04(a) of this Agreement. 

“Reviewing Party” has the meaning set forth in Section 6.04(a) of this Agreement. 

“Schedule A Transactions” means the transactions set forth on Schedule A of this Agreement. 

“Shared Tax Benefits” has the meaning set forth in Section 5.01 of this Agreement. 

“Sharing Amount” means any GE Sharing Amount or BHI Sharing Amount, as the case may be, as determined pursuant to
Section 5.04. 
 “Stockholders Agreement” means the Stockholders Agreement, dated as of July 3, 2017,
between GE and Newco. 
 “Straddle Period” means any Taxable Year that begins on or before and ends after the Closing Date.

 “Structure Benefits” has the meaning set forth in Section 5.02(a) of this Agreement. 

“Subsidiary” means, 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 gains, losses or equity interests
of which), or to direct the management or policies, is owned or controlled directly or indirectly by such first Person (or one or more of the other Subsidiaries of such Person or a combination thereof). 

“Subsidiary Stock” means any stock or other equity interest in any Subsidiary entity of the Newco LLC Group that is treated
as a corporation for U.S. federal income tax purposes. 

  
 9 

 “Tax” means any federal, state, provincial, local, foreign or other tax, import,
duty or other governmental charge or assessment or escheat payments, or deficiencies thereof, including income, alternative, minimum, accumulated earnings, personal holding company, franchise, capital stock, net worth, capital, profits, windfall
profits, cash flow, gross receipts, value added, sales, use, excise, custom duties, transfer, conveyance, mortgage, registration, stamp, documentary, recording, premium, severance, environmental, real and personal property, ad valorem, intangibles,
rent, occupancy, license, occupational, employment, unemployment insurance, social security, disability, workers’ compensation, payroll, health care, withholding, estimated or other similar tax and including all interest and penalties thereon
and additions to tax. 
 “Tax Attribute” shall mean a net operating loss, net capital loss, unused investment credit,
unused foreign tax credit, excess charitable contribution, general business credit, alternative minimum tax credit or any other Tax item that could reduce a Tax. 

“Tax Contest” means an audit, review, examination, or any other administrative or judicial proceeding with the purpose or
effect of redetermining Taxes (including any administrative or judicial review of any claim for refund). 
 “Tax Package”
has the meaning set forth in Section 7.02(b) of this Agreement. 
 “Tax Refund” has the meaning set forth in
Section 5.02 of this Agreement. 
 “Tax Return” means any return, estimated tax return, report, declaration,
form, claim for refund or information statement relating to Taxes, including any schedule or attachment thereto, and including any amendment thereof. 

“Taxable Year” means a taxable year as defined in Section 441(b) of the Code or comparable section or rule of state,
local or foreign Law, as applicable (and, therefore, for the avoidance of doubt, may include a period of less than 12 months for which a Tax Return is made). 

“Taxing Authority” means, with respect to any Tax, the Governmental Entity or political subdivision thereof that imposes such
Tax, and the agency (if any) charged with the collection of such Tax for such entity or subdivision. 
 “Transaction
Agreement” has the meaning ascribed to it in the recitals to this Agreement. 
 “Treasury Regulations” means the
regulations promulgated under the Code. 
 “Unpaid BHI Sharing Amount” means the aggregate BHI Sharing Amount calculated
for prior Taxable Years for which payment has not been made pursuant to the LLC Agreement and that has not had the effect of reducing any GE Sharing Amount for a prior Taxable Year. 

“Unpaid GE Sharing Amount” means the aggregate GE Sharing Amount calculated for prior Taxable Years for which payment has not
been made pursuant to the LLC Agreement and that has not had the effect of reducing any BHI Sharing Amount for a prior Taxable Year. 

“Unpaid Sharing Amount” means any Unpaid GE Sharing Amount or Unpaid BHI Sharing Amount, as the case may be. 

  
 10 

 “Valuation Assumptions” shall mean, as of the date that a Material Breach
Payment becomes payable pursuant to Section 5.05(d), the assumptions that: 
 (1) in each Taxable Year ending on or after such date of
a Material Breach Payment, the Newco Group will have taxable income sufficient to fully use the deductions arising from the Basis Adjustments during such Taxable Year or future Taxable Years (including, for the avoidance of doubt, Basis Adjustments
that would result from future payments pursuant to Section 5.05 that would be paid in accordance with the Valuation Assumptions) in which such deductions would become available; 

(2) the U.S. federal, state and local income tax rates that will be in effect for each such Taxable Year will be those specified for each
such Taxable Year by the Code and other Law as in effect on the date of a Material Breach Payment, except to the extent any change to such tax rates for such Taxable Year have already been enacted into law, in which case the changed tax rates shall
be used as the tax rates in effect for such Taxable Year; 
 (3) all taxable income of the Newco Group will be subject to the maximum
applicable tax rates for U.S. federal, state and local income taxes throughout the relevant period; 
 (4) any loss or credit carryovers
generated by any Basis Adjustment (including such Basis Adjustment generated as a result of payments under this Agreement) and available as of such date of the Material Breach Payment will be used by the Newco Group ratably in each Taxable Year from
such date of the Material Breach Payment through the scheduled expiration date of such loss or credit carryovers; 
 (5) any
non-amortizable Reference Assets (other than Subsidiary Stock) will be disposed of in a fully taxable transaction on the later of (i) the fifteenth anniversary of the applicable Basis Adjustment and (ii) such date of the Material Breach
Payment, for an amount sufficient to fully utilize the Basis Adjustment with respect to such Reference Asset; 
 (6) any Subsidiary
Stock will be deemed never to be disposed of; 
 (7) if, on such date of the Material Breach Payment, any Member has Common Units that
have not been Exchanged, then such Common Units shall be deemed to be Exchanged for the Market Value of the shares of Class A Common Stock and the amount of cash that would be received by such Member if such Common Units had been Exchanged on
such date of the Material Breach Payment; and 
 (8) any payment obligations pursuant to Section 5.05 will be satisfied on
the date that any Tax Return to which such payment obligation relates is required to be filed excluding any extensions. 

  
 11 

 ARTICLE II 

GENERAL ALLOCATION OF TAX LIABILITIES 

Section 2.01 Allocation of Taxes. 

(a) Formation Taxes. 

(i) The GE Group shall be responsible for (w) any Indemnified Newco 752 Liability, (x) any Newco Formation Taxes,
(y) any GE Formation Taxes and (z) any Taxes imposed with respect to any Formation Transactions undertaken by any member of the GE Group, other than any GE Formation Taxes (“GE Restructuring Taxes”); provided that
Newco shall be responsible for any Formation Taxes to the extent the Formation Taxes arise out of, are in connection with, or relate to a breach of Section 7.04(f) of the Transaction Agreement by a member of the Newco Group. 

(ii) GE shall (x) provide Newco with all information reasonably requested by Newco for purposes of determining whether a
Formation Transaction undertaken by any member of the GE Group resulted in GE Formation Taxes; provided that in no event shall any party be entitled to any information of the GE Group that does not relate exclusively to the determination of
whether a Formation Transaction resulted in GE Formation Taxes, and (ii) no later than thirty (30) days after the due date (taking into account extensions validly obtained) for filing the GE Consolidated Tax Return for each Taxable Year,
GE shall provide Newco with a certification signed by the chief financial officer of GE setting forth the amount, if any, with respect to such Taxable Year of any GE Formation Taxes. Such certification shall set forth in reasonable detail the basis
for such computation, together with a statement to the effect that (i) all such computations have been made without regard to any transaction a significant purpose of which is to increase the amount of GE Formation Taxes and (ii) GE
mitigated, to the extent possible, GE Formation Taxes. 
 (b) GE Pre-Closing Taxes. The GE Group shall be responsible for any and all
Pre-Closing Taxes that are Income Taxes of any member of the GE Group, including any Taxes that any such member is liable for as a result of being a member of an affiliated, consolidated, combined or unitary group, including any liability imposed
under Treasury Regulation Section 1.1502-6 or any similar state, local or foreign Law. 
 (c) Newco LLC Pre-Closing Taxes. Except
as provided in Section 2.01(a) and Section 2.01(b), Newco LLC shall be responsible for any and all Pre-Closing Taxes (i) of the Newco Group or (ii) that constitute non-Income Taxes of any member of the GE Group,
including any GE O&G Subsidiary, to the extent attributable to GE O&G. 
 Section 2.02 Proration of Taxes for Straddle
Periods. 
 (a) With respect to any Straddle Period, GE, Newco, EHHC and Newco LLC shall treat, and elect to treat, the Closing Date as
the last day of the Pre-Closing Period. If no such election is permitted, the Taxes for the Straddle Period shall be allocated to the Pre-Closing Period as follows: (i) in the case of real or personal property Taxes, Taxes based on capital, or
a flat minimum amount Tax, the total amount of such Taxes multiplied by a fraction, the numerator of which is the number of days in the portion of the Straddle Period through and including the Closing Date and the denominator of which is the total
number of days in such Straddle Period; and (ii) in the case of all other Taxes, including Income Taxes, based upon an actual closing of the books methodology on the Closing Date, as determined in accordance with the relevant books and records.

  
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 (b) For purposes of this Section 2.02, the Taxable Year of any partnership,
pass-through entity or controlled foreign corporation (within the meaning of Section 957(a) of the Code or any comparable provision of state, local or foreign Law) in which a member of the Newco LLC Group holds a beneficial interest immediately
after the Closing Date shall be deemed to terminate on the Closing Date. 
 ARTICLE III 

TAX RETURNS 

Section 3.01 GE Responsibility. GE shall timely (taking into account extensions validly obtained) prepare and file, or cause to be
prepared and filed, all (a) Tax Returns with respect to Income Taxes for a Pre-Closing Period or Straddle Period that only include one or more GE O&G Subsidiaries; (b) GE Separate Tax Returns that are required to be filed by a member
of the GE Group (other than a GE O&G Subsidiary), in each case to the extent attributable to GE O&G for any Pre-Closing Period or Straddle Period; and (c) GE Combined Tax Returns. 

Section 3.02 Newco Responsibility. Newco shall timely (taking into account extensions validly obtained) prepare and file, or cause
to be prepared and filed, all (a) Newco LLC Separate Tax Returns; (b) Tax Returns for a Pre-Closing Period or Straddle Period that only include one or more GE O&G Subsidiaries and are not described in Section 3.01;
(c) Newco Separate Tax Returns; and (d) Newco Combined Tax Returns. 
 Section 3.03 Election to File GE Combined Tax
Returns. To the extent permissible under applicable Law, GE shall have the sole discretion to determine whether a member of the Newco Group or the Newco LLC Group is included in a GE Combined Group. 

Section 3.04 Preparation of Tax Returns. 

(a) GE-Prepared Tax Returns. To the extent that any Tax Return described in Section 3.01 directly relates to matters for
which Newco LLC has an indemnification obligation under Section 6.01(a) (“Newco LLC Indemnified GE Returns”), GE shall prepare (or cause to be prepared) the relevant portion of such Tax Return in accordance with past
practices, permissible accounting methods, elections or conventions (“Past Practices”) used with respect to such Tax Returns unless otherwise required by applicable Law, and to the extent any items are not covered by Past Practices,
in accordance with reasonable Tax accounting practices selected by GE (for this purpose, any position supported by “substantial authority” under Treas. Reg. § 1.6662-4(d) (or any similar standard under applicable Law) shall be
considered reasonable). 
 (b) Newco-Prepared Tax Returns. To the extent any Tax Return described in Section 3.02 directly
relates to matters for which GE has an indemnification obligation under Section 6.01(b) (“GE Indemnified Newco/Newco LLC Returns”) or otherwise relates to a Pre-Closing Period, Newco shall prepare (or cause to be
prepared) such Tax Return in accordance with Past Practices used with respect to such Tax Returns unless otherwise required by applicable Law, and to the extent any items are not covered by Past Practices, in accordance with reasonable Tax
accounting practices selected by Newco (for this purpose, any position supported by “substantial authority” under Treas. Reg. § 1.6662-4(d) (or any similar standard under applicable Law) shall be considered reasonable). 

  
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 All Tax Returns of Newco LLC described in Section 3.02 other than GE Indemnified Newco/Newco LLC
Returns shall be prepared in accordance with Section 9.01(a) of the LLC Agreement. The procedures for dispute resolution referred to in the penultimate sentence of Section 9.01(a) shall be the procedures set forth below in
Section 3.04(c), mutatis mutandis. All Newco Separate Tax Returns and Newco Combined Tax Returns described in Section 3.02 other than GE Indemnified Newco/Newco LLC Returns or Tax Returns that relate to a Pre-Closing
Period shall be prepared in accordance with the reasonable discretion of Newco. 
 (c) Review of Tax Returns. The Preparing Party with
respect to any Newco LLC Indemnified GE Return, GE Indemnified Newco/Newco LLC Return, Tax Return described in Section 3.04(b) that is not a GE Indemnified Newco/Newco LLC Return to the extent relating to a Pre-Closing Period, or Pro
Forma Group Return described in Section 4.02 below (a “Reviewed Return”) shall deliver or cause to be delivered a draft of such Tax Return and related workpapers to the other party (the “Reviewing Party”) for
its review no less than thirty (30) days prior to its due date (taking into account extensions validly obtained), and shall not file or cause to be filed any such Tax Return with the applicable Taxing Authority without the consent of the
Reviewing Party, which consent shall not be unreasonably withheld or delayed; provided that, (i) with respect to any Newco LLC Indemnified GE Return and related workpapers, GE shall only be required to provide pro forma portions thereof
that exclusively relate to a GE O&G Subsidiary or GE O&G, (ii) Reviewed Returns shall not include any GE Combined Return and (iii) if the GE Group owns less than 33% of the outstanding Common Units, GE shall only be permitted to
act as a Reviewing Party with respect to a Reviewed Return that is a GE Indemnified Newco/Newco LLC Return. The Reviewing Party may object to the filing of such Tax Return by delivering a written notice to the Preparing Party within ten
(10) days of receipt of such Tax Return. Such written notice shall specify the item or items included in the Tax Return disputed by the Reviewing Party. After delivery of such written notice, GE and Newco shall use commercially reasonable
efforts to resolve the dispute. If GE and Newco are unable to resolve such dispute within ten (10) days, (i) each of the CFOs of GE and Newco shall prepare certifications that resolve the disputed item or items in the manner that each
believes is appropriate and set forth in reasonable detail the basis for the determination (the “Reviewed Return Certifications”), and (ii) the Reviewed Return Certifications shall be submitted to the GE CEO and Conflicts
Committee for resolution in accordance with Article VI of the Stockholders Agreement; provided that to the extent that the disputed item or items are not resolved in accordance with Section 6.2 of the Stockholders Agreement,
(x) Section 6.1(g) of the Stockholders Agreement shall not apply and (y) the disputed item or items, including the Reviewed Return Certifications, shall be presented to an accounting firm or law firm of national reputation acceptable
to GE and Newco (the “Independent Arbiter”), and the Independent Arbiter shall resolve the disputed item or items in a timely manner. In the event that the disputed item or items have not been resolved in accordance with this
Section 3.04(c) by the due date (with extensions) of the relevant Reviewed Return, the Preparing Party shall file the Reviewed Return in a manner consistent with its CFO’s Reviewed Return Certification, and, if necessary, such
Reviewed Return shall be amended upon resolution of the disputed item or items in accordance with this Section 3.04(c). If the Reviewing Party does not object to the filing of a Reviewed Return within ten (10) days of receipt of
such Reviewed Return from the Preparing Party, the Reviewing Party shall be deemed to have consented to the filing of such Tax Return. With respect to any Tax Return that is described in Section 3.04(b) that is not a GE Indemnified Newco/Newco
LLC Return to the extent relating to a Shared Tax Benefits, Newco shall deliver or cause to be delivered a draft of such Tax Return and related workpapers to GE for its review no less than thirty (30) days prior to its due date (taking into
account extensions validly obtained), and shall consider in good faith any timely comments on such Tax Return from GE that relate to Shared Tax Benefits; provided that GE’s rights pursuant to this sentence shall terminate upon the
Trigger Date. 

  
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 (d) Reporting of Transactions and Formation Taxes. The Tax treatment reported on any Tax
Return that relates to a Schedule A Transaction shall be consistent with the Intended Tax Treatment of such transaction. GE shall be entitled to determine in its reasonable discretion the Tax treatment of any Transactions not described on Schedule A
(including, for the avoidance of doubt, any Formation Transactions) and any Newco Formation Tax, Indemnified Newco 752 Liability, GE Formation Tax or GE Restructuring Tax to be reported on any Tax Return. For purposes of this
Section 3.04(d), any position supported by “substantial authority” under Treas. Reg. § 1.6662-4(d) (or any similar standard under applicable Law) shall be considered reasonable. The parties shall provide each other with
good faith estimates of the amount, if any, of GE Formation Taxes and the Newco Formation Taxes, as soon as reasonably available. 
 (e)
Tax Return Payments. The party responsible under this Article III for preparing (or causing to be prepared) a Tax Return (the “Preparing Party”) shall timely pay (or cause to be paid) any Taxes shown as due on that Tax Return
to the relevant Taxing Authority. If any party is obligated to make payments under this Section 3.04(e) with respect to Taxes allocated to another party under this Agreement, such other party will pay the Preparing Party the amount of
such Taxes in accordance with Article VI. 
 ARTICLE IV 

POST-CLOSING TAX MATTERS 

Section 4.01 Allocation of GE Combined Group Tax Liability. 

(a) For each Post-Closing Period (for the avoidance of doubt, including the portion of a Straddle Period beginning after the Closing Date) for
which a GE Combined Tax Return is filed, (i) Newco or Newco LLC, as applicable, shall be responsible for the Pro Forma Tax Liability of any member of its respective Group and (ii) GE shall be responsible for any Pro Forma Utilized Loss.

 (b) To the extent that a member of the GE Group may elect to cause one or more members of the Newco Group or the Newco LLC Group to be
included in a GE Combined Tax Return (an “Optional GE Combined Group”), GE shall have the sole discretion as to whether to include any such members in the GE Combined Tax Return. 

Section 4.02 Preparation of the Pro Forma Group Returns. 

(a) For each Post-Closing Period (for the avoidance of doubt, including the portion of a Straddle Period beginning after the Closing Date) for
which a GE Combined Tax Return is filed, Newco shall prepare (or cause to be prepared) a pro forma Tax Return for any member of the Newco Group or the Newco LLC Group included in such GE Combined Tax Return (each, a “Pro Forma Group
Return”). 

  
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 (b) The Pro Forma Group Return shall be prepared as if the relevant member of the Newco Group or
the Newco LLC Group filed a separate Tax Return that only included such member and any other members of such Group that are included in the GE Combined Tax Return and would be permitted to file a Tax Return on a group basis with such member;
provided that (x) with respect to the preparation of a Pro Forma Group Return in respect of an Optional GE Combined Group, Newco shall determine all accounting methods, elections and methods of calculation (collectively
“Methods”) and (y) with respect to the preparation of a Pro Forma Group Return in respect of a GE Combined Group other than an Optional GE Combined Group, the Methods used by GE in calculating Taxes with respect to the applicable GE
Combined Return will be used in calculating the Pro Forma Return unless any such Method is inconsistent with a Method used in the Newco Group’s consolidated U.S. federal income Tax Return, in which case the Newco Group’s Method shall be
used. Notwithstanding the foregoing, (i) if Taxes with respect to the GE Combined Tax Return are calculated using an apportionment ratio based on the combined factors of the entities included in the GE Combined Tax Return, the apportionment of
net income or net loss of member(s) of the Newco Group or the Newco LLC Group will be determined using separate apportionment ratio of such member(s), (ii) there will be no carryback of any Tax Attribute from one Taxable Year to any prior
Taxable Year, (iii) if the GE Group makes a payment to the Newco Group or the Newco LLC Group in respect of a Pro Forma Utilized Loss (as defined below), the corresponding net operating loss shall be excluded for purposes of determining any Pro
Forma Tax Liability for a subsequent Taxable Year, and (iv) to the extent that the Pro Forma Group Return relates to the portion of a Straddle Period beginning after the Closing Date, the principles of Treas. Reg. § 1.1502-76(b)(2)
(without any deemed ratable allocation election) shall apply in allocating income, deductions, gains, losses and other items of such member(s) of the Newco Group or the Newco LLC Group between the Pro Forma Group Return, on the one hand, and the
Pre-Closing Period of any GE Combined Return or any other Tax Return that includes such member(s), on the other hand, as if there were two separate Taxable Years. 

Section 4.03 Payments with Respect to Pro Forma Group Returns. 

(a) Newco or Newco LLC shall make payments (including estimated payments) to the relevant member of the GE Group with respect to any Pro Forma
Group Return as if (i) that Pro Forma Group Return was actually required to be filed under applicable Law and (ii) the relevant member of the GE Group was the relevant Taxing Authority of the applicable jurisdiction (a “Pro Forma
Tax Liability”). In applying this Section 4.03, all Laws relating to timing and computation of payments and estimated payments, interest, penalties, additions to tax and additional amounts shall be applied. 

(b) Notwithstanding Section 4.03(a), if (i) a Pro Forma Group Return reflects a loss resulting in no Tax liability shown as
due on such Tax Return, and (ii) such loss results in an actual reduction in the Tax liability shown as due on the corresponding GE Combined Return (calculated on a “with and without” basis), Newco or Newco LLC (or the relevant member
of the applicable Group) shall be entitled to a payment from the relevant member of the GE Group in an amount equal to such reduction in Tax liability (a “Pro Forma Utilized Loss”). 

  
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 Section 4.04 Pro Forma Group Returns Certifications. GE shall provide Newco with a
certification signed by the chief financial officer of GE (i) setting forth the Methods necessary for Newco to prepare a Pro Forma Group Return and (ii) providing in reasonable detail the basis for the GE Group’s computations with
respect to a Pro Forma Utilized Loss, together with a statement to the effect that all such computations have been made without regard to any transaction a significant purpose of which is to reduce or defer an amount payable with respect to a loss
reflected on a Pro Forma Group Return. 
 ARTICLE V 

SHARED TAX BENEFITS 

Section 5.01 Allocation of Shared Tax Benefits. Structure Benefits, BHI Tax Benefits and Exchange Benefits (“Shared Tax
Benefits”) shall be allocated as provided below. 
 (a) The GE Group shall be entitled to: 

(i) 100% of Structure Benefits to the extent of Newco Formation Taxes, GE Formation Taxes and any Indemnified Newco 752
Liability (“GE Structure Benefits”); 
 (ii) the GE Group’s Allocable Share of Excess Structure
Benefits; 
 (iii) the GE Group’s Allocable Share of BHI Tax Benefits; and 

(iv) 50% of any Exchange Benefit. 

(b) The Newco Group shall be entitled to the Newco Group’s Allocable Share of Excess Structure Benefits and shall retain 50% of any
Exchange Benefit. 
 Section 5.02 Shared Tax Benefit Definitions. 

(a) “Structure Benefits” means the reduction in cash Taxes actually payable by the GE Group and/or the Newco Group (calculated
on a “with and without” basis) attributable to: 
 (i) Tax items, including Tax basis, deductions, losses,
expenses or credits created and Taxes paid resulting from transactions giving rise to Formation Taxes or any Indemnified Newco 752 Liability (including correlative items that are attributable to amounts included in the calculation of Formation Taxes
or any Indemnified Newco 752 Liability); 
 (ii) a loss, deduction, expense or credit allocated by Newco LLC to a Member
to the extent that such loss, deduction, expense or credit could not have been used by Newco LLC on a stand-alone basis, determined as if Newco LLC were classified as a corporation (instead of a partnership) for U.S. federal income tax purposes; or

 (iii) an allocation by Newco LLC to members of the GE Group or members of the Newco Group, as applicable, pursuant to
Section 704(c) of the Code of (1) any loss (including a loss associated with a liability described in Treas. Reg. § 1.752-7) if the allocation of such loss exceeded such Group’s Allocable Share of the loss or (2) any gain if
the allocation of such gain was less than such Group’s Allocable Share of the gain (in each case, for the avoidance of doubt, excluding depreciation or amortization allocated pursuant to Section 704(c) of the Code). 

  
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 The parties intend (i) that the terms “loss, deduction, expense or credit,” as used in
Section 5.02(a)(ii) be interpreted broadly and (ii) no inference that a Tax item similar to a loss, deduction, expense or credit (under current or future law) is not to be taken into account under Section 5.02(a)(ii) as
a result of it not being specifically set forth therein. 
 (b) “Excess Structure Benefits” means Structure Benefits in
excess of GE Structure Benefits. 
 (c) “BHI Tax Benefits” means the reduction in cash Taxes that would have been payable by
the Newco Group (calculated on a “with and without” basis) with respect to any Post-Closing Period (i) attributable to a Tax Attribute of the Newco Group arising in a Pre-Closing Period and (ii) assuming the Taxable Year of each
relevant Member of the Newco Group ended on and included the Closing Date (with any required proration made in accordance with Section 2.02). 

(d) “Exchange Benefits” means the reduction in cash Taxes actually payable by the Newco Group (calculated on a “with and
without” basis) derived from any Basis Adjustment that is attributable to an Exchange undertaken by a member of the GE Group. 

Section 5.03 Determination of Shared Tax Benefits. 

(a) On a calendar quarter basis, GE shall provide Newco with a computation of the estimated amount, if any, with respect to such quarter of
such Taxable Year of (i) the Structure Benefits realized by the GE Group and the amount of such Structure Benefits that are GE Structure Benefits and the amount that are Excess Structure Benefits, and (ii) the GE Formation Taxes. No later
than thirty (30) days after the due date (taking into account extensions validly obtained) for filing the GE Consolidated Tax Return for each Taxable Year, GE shall provide Newco with a certification signed by the chief financial officer of GE
setting forth the amount, if any, with respect to such Taxable Year of the Structure Benefits realized by the GE Group and the amount of such Structure Benefits that are GE Structure Benefits and the amount that are Excess Structure Benefits. 

(b) On a calendar quarter basis, Newco shall provide GE with a computation of the estimated amount, if any, with respect to such quarter of
such Taxable Year of (i) the Structure Benefits, BHI Tax Benefits, and Exchange Benefits realized by the Newco Group and the amount of such Structure Benefits that are GE Structure Benefits and the amount that are Excess Structure Benefits and
(ii) Newco Formation Taxes and any Indemnified Newco 752 Liability. No later than thirty (30) days after the due date (taking into account extensions validly obtained) for filing the Newco Consolidated Tax Return for each Taxable Year,
Newco shall provide GE with a certification signed by the chief financial officer of Newco setting forth the amount, if any, with respect to such Taxable Year of (x) the Structure Benefits, BHI Tax Benefits, and Exchange Benefits realized by
the Newco Group and the amount of such Structure Benefits that are GE Structure Benefits and the amount that are Excess Structure Benefits and (y) Newco Formation Taxes and any Indemnified Newco 752 Liability. 

  
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 (c) The certifications pursuant to Section 5.03(a) and Section 5.03(b)
above (the “Certifications”) shall set forth in reasonable detail the basis for such computation, together with a statement to the effect that all such computations have been made without regard to any transaction a significant
purpose of which is to reduce or defer (or, in the case of the certifications pursuant to Section 5.03(b)(y), to increase or accelerate) any amount payable by the non-certifying party; provided that the Certifications provided
pursuant to Section 5.03(b)(y) shall also include a statement to the effect that BHI mitigated, to the extent possible, Newco Formation Taxes and any Indemnified Newco 752 Liability. If the chief financial officer of the certifying party
determines that it is necessary to adjust any computations required by the preceding sentence, then such chief financial offer will be permitted to make such adjustments in a manner reasonably acceptable to the non-certifying party. 

(d) Notwithstanding anything to the contrary contained in this Section 5.03, (i) the procedures in Section 2.01(a)(ii)
will govern the determination of GE Formation Taxes, (ii) GE and Newco shall use commercially reasonable efforts to resolve any disputes with respect to the Certifications, and (iii) if GE and Newco are unable to resolve such dispute
within ten (10) days, the applicable Certification and a certification prepared by the CFO of the other Group that resolves the disputed item or items in the manner that such CFO believes is appropriate and sets forth in reasonable detail the
basis for the determination shall be submitted to the GE CEO and Conflicts Committee for resolution in accordance with Article VI of the Stockholders Agreement; provided that to the extent that the disputed item or items are not resolved in
accordance with Section 6.2 of the Stockholders Agreement, (x) Section 6.1(g) of the Stockholders Agreement shall not apply and (y) the disputed item or items, including such Certification and such other prepared certification,
shall be presented to the “Independent Arbiter, and the Independent Arbiter shall resolve the disputed item or items in a timely manner. 

Section 5.04 Determination of Payments for Structure Benefits and BHI Tax Benefits. 

(a) With respect to each Taxable Year, within ten (10) days of the agreement by GE and Newco that the Certifications are acceptable
to each party in accordance with Section 5.03 (the “Determination Date”): 
 (i) the GE
Sharing Amount shall be calculated with respect to such period as equal to the excess, if any, of: 
 A. The sum of
(1)(x) 100% of the total GE Structure Benefits, (y) GE’s Allocable Share of the total Excess Structure Benefits, and (z) GE’s Allocable Share of the BHI Tax Benefits, in each case, with respect to the applicable Taxable
Year, as shown on the relevant Certifications as realized by the Newco Group and (2) any Unpaid GE Sharing Amount, over 

B. The sum of (1) Newco’s Allocable Share of the total Excess Structure Benefits with respect to the applicable
Taxable Year, as shown on the relevant Certifications as realized by the GE Group and (2) any Unpaid BHI Sharing Amount; and 

  
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 (ii) the BHI Sharing Amount shall be calculated as equal to the excess, if any,
of Section 5.04(a)(i)(B) over Section 5.04(a)(i)(A). 
 (b) Payments of Sharing Amounts, as determined pursuant to this
Section 5.04, will be made pursuant Section 4.02 of the LLC Agreement. 
 (c) In a Taxable Year (the “752 Year”)
in which GE bears an Indemnified Newco 752 Liability, if any, including as a result of a Determination or amended Tax Return, an amount shall be added to Section 5.04(a)(i)(A) (the “752 GE Sharing Amount”) equal to the
difference, if any, between (i) the GE Sharing Amount or the negative of the BHI Sharing Amount, as the case may be, calculated as if such Indemnified Newco 752 Liability were incurred as of the Closing Date for the purposes of
Section 5.01(a)(i) and (ii) the GE Sharing Amount or the negative of the BHI Sharing Amount, as the case may be, calculated in each of clauses (i) and (ii), as of (and including) the Taxable Year prior to the 752 Year and
assuming no Sharing Payments have been made. With respect to a 752 Year, this Section 5.04(c) shall be applied before Section 5.04(a). 

Section 5.05 Payment of Exchange Benefits. 

(a) In General. With respect to each Taxable Year, within ten (10) days of the agreement by GE and Newco that the Certifications
are acceptable to each party, Newco shall make a payment to the GE Group equal to 50% of the Exchange Benefits, if any. 
 (b) Tax
Treatment. 
 (i) Unless otherwise required by applicable Law, the parties agree that (i) an Exchange shall be
treated as a taxable sale of Common Units and shares of Class B Common Stock by the relevant member of the GE Group to Newco that gives rise to Basis Adjustments and (ii) payments made pursuant to Section 5.05(a) (excluding, for the
avoidance of doubt, any payments treated as interest for U.S. federal income tax purposes) shall be treated as subsequent upward purchase price adjustments that have the effect of creating additional Basis Adjustments in the year of payment. 

(ii) Newco and GE hereby acknowledge and agree that, as of the date of this Agreement and as of the date of any future Exchange
that may be subject to this Agreement, the aggregate value of payments to be made under Section 5.05(a) cannot be reasonably ascertained for U.S. federal income or other applicable tax purposes. 

(c) Payments Following a Newco Change of Control Transaction. In the event of a Newco Change of Control Transaction, all payments with
respect to Exchange Benefits following such Newco Change of Control Transaction shall be mutually determined by GE and Newco acting in good faith based on the Newco LLC Group’s projected standalone taxable income, which shall be calculated at
the time of such Newco Change of Control Transaction based on the Newco LLC Group’s standalone activities, balance sheet, Tax Attributes and other characteristics, in each case, immediately before such Newco Change of Control Transaction. 

(d) Late Payments. Any payment required to be made by Newco under this Agreement with respect to Exchange Benefits that is not made when
due under the terms of this Agreement shall be payable together with any interest thereon, computed at the Default Rate and commencing from the date on which such payment was due and payable. 

  
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 (e) Acceleration on Material Breach. In the event that (i) (x) Newco fails to
make any payment (other than a payment of a de minimis amount) under this Agreement with respect to Exchange Benefits within thirty (30) days after the date when due, (y) following the expiration of such thirty (30) day period,
GE provides written notice to Newco of such failure and (z) Newco fails to cure such failure within ten (10) days of receipt of such written notice, and (ii) a Credit Event has occurred, then all obligations hereunder with respect to
such Exchange Benefits shall be accelerated and become immediately due and payable, and shall include, but not be limited to: (1) the Material Breach Payment; (2) any prior payments with respect to Exchange Benefits that are due and
payable but that still remain unpaid as of the date of such acceleration; and (3) any current payments with respect to Exchange Benefits due for the Taxable Year ending with or including the date of such acceleration; provided, that in
the event that a Credit Event occurs within the thirty (30) day period described in clause (i)(x) above, such thirty (30) day period shall be deemed to end on the date of the Credit Event and clauses (i)(y) and (i)(z) shall not apply. 

(f) Payment Upon Material Breach. The “Material Breach Payment” payable to a GE Group member pursuant to
Section 5.05(d) shall equal the present value, discounted at the Default Rate, of all payments with respect to Exchange Benefits that would be required to be paid to such GE Group member, in respect of Common Units that were Exchanged
prior to (or deemed to be Exchanged as a result of the acceleration), beginning from the date of acceleration and using the Valuation Assumptions. 

ARTICLE VI 
 INDEMNITY

 Section 6.01 Indemnities. 

(a) Newco LLC Indemnity. Newco LLC shall indemnify GE and each member of the GE Group and Newco and each member of the Newco Group, as
applicable, from: 
 (i) any Taxes allocated to Newco LLC pursuant to Article II; 

(ii) any Taxes attributable to the breach by any member of the Newco LLC Group of any representation, warranty or covenant
made by such member in this Agreement, including the representations and covenants set forth on Schedule 8.01 in accordance with Section 8.01; and 

(iii) all liabilities, costs, expenses (including, without limitation, reasonable accountant, attorney and other
professional fees and expenses), losses, damages, assessments, settlements or judgments arising out of or incident to the imposition, assessment or assertion of any Tax liability or damage described in (i)-(ii), including those incurred in a contest
in good faith in appropriate proceedings relating to the imposition, assessment or assertion of any such Tax, liability or damage. 

  
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 (b) GE Indemnity. GE shall indemnify Newco and each member of the Newco Group and Newco
LLC and each member of the Newco LLC Group, as applicable, from: 
 (i) any Taxes allocated to GE pursuant to Article
II; 
 (ii) any Taxes attributable to breach by any member of the GE Group of any covenant made by such member in this
Agreement; and 
 (iii) all liabilities, costs, expenses (including, without limitation, reasonable accountant, attorney
and other professional fees and expenses), losses, damages, assessments, settlements or judgments arising out of or incident to the imposition, assessment or assertion of any Tax liability or damage described in (i)-(ii), including those incurred in
a contest in good faith in appropriate proceedings relating to the imposition, assessment or assertion of any such Tax, liability or damage. 

(c) Newco Indemnity. Newco shall indemnify GE and each member of the GE Group and Newco LLC and each member of the Newco LLC Group, as
applicable, from: 
 (i) Any Taxes attributable to breach by any member of the Newco Group of any representation,
warranty or covenant made by such member in this Agreement or Section 7.04(f) of the Transaction Agreement; and 

(ii) all liabilities, costs, expenses (including, without limitation, reasonable accountant, attorney and other
professional fees and expenses), losses, damages, assessments, settlements or judgments arising out of or incident to the imposition, assessment or assertion of any Tax liability or damage described in (i), including those incurred in a contest in
good faith in appropriate proceedings relating to the imposition, assessment or assertion of any such Tax, liability or damage. 

Section 6.02 Payments. 

(a) General. All payments to be made under this Agreement to another party (or a member of its respective Group) shall be made in
immediately available funds. With respect to any payment required to be made to or by a member of the GE Group, GE shall have the right to designate, by written notice to the payor or payee, as applicable, which member of the GE Group will receive
or make such payment. Notwithstanding the foregoing, payments of Sharing Amounts, as determined in accordance with Section 5.04, shall be made pursuant to Section 4.02 of the LLC Agreement. 

(b) Net of Taxes. All payments under this Agreement other than payments made pursuant to Section 5.05 shall be
(i) reduced by any Tax benefit related to the Taxes imposed on the payee Group to which the payments relate that is actually realized by the payee Group (or, with respect to any payment made by Newco LLC, realized by Members that are members of
the payee Group, in each case calculated on a “with and without” basis) and (ii) increased by such amounts as are necessary so that after paying all Taxes with respect to the receipt of such payment, the payee receives an amount equal
to the amount it would have received had no such Taxes been imposed; provided that (x) no decrease shall be made pursuant to clause (i) of this Section 6.02(b) to any payment described in Section 5.04 or
(y) no GE Group payee shall be entitled to receive an amount pursuant to Section 6.02(b)(ii) greater than the amount GE would have received had GE been the GE Group payee. 

  
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 Section 6.03 Tax Refunds. Each party to this Agreement shall be entitled to any
refund of Taxes (or credit, reduction or offset in lieu thereof) (a “Tax Refund”) with respect to any Tax allocable to such party pursuant to this Agreement. A party receiving a Tax Refund to which another party is entitled to
hereunder (a “Refund Recipient”) shall pay over the amount of such Tax Refund (including interest received from the relevant Taxing Authority) within ten (10) days of receipt (or from the due date for payment of any Tax reduced
thereby, determined on a “with and without” basis). 
 Section 6.04 Rebalancing Payments. If (i) any Determination
is made with respect to a Tax item, or any amended Tax Return is filed in each case that would impact the amount of a payment under this Agreement to a Group member, or, without duplication, (ii) the amount of a Structure Benefit is
recalculated and is different than the amount of the Structure Benefit previously calculated and the recalculated amount is agreed to by the parties pursuant to the procedures set forth in Section 5.03(c) and Section 5.03(d),
mutatis mutandis, then upon such Determination, amendment or recalculation, GE, Newco and/or Newco LLC shall make such payments as are necessary to ensure that the net economic position of the GE Group and the Newco Group after such payments
is the same as it would have been had the adjustments made in connection with the Determination, amendment or recalculation been reflected in the calculation of the original payment (“Rebalancing Payments”). Rebalancing Payments
shall include, without limitation: 
 (a) The repayment of any payment made under Section 5.04 or Section 5.05,
Tax Refund, Pro Forma Tax Liability or Pro Forma Utilized Loss that would not have been payable had the adjustments made in connection with the Determination or amendment been reflected on the original Tax Return with respect to which a
Determination or Amendment was made (the “Original Tax Return”); 
 (b) The payment of any additional payment made
under Section 5.04 or Section 5.05, Tax Refund, Pro Forma Tax Liability or Pro Forma Utilized Loss that would have been payable had the adjustments made in connection with the Determination or amendment been reflected on the
Original Tax Return; and 
 (c) The repayment of any Structure Benefit as a result of Newco LLC on a stand-alone basis, determined as if
Newco LLC was classified as a corporation (instead of a partnership) for U.S. federal income tax purposes, being able to use the loss, deduction or credit (in each case, or a portion thereof) giving rise to such Structure Benefit. 

(d) Notwithstanding anything to the contrary in this Agreement, (i) this Section 6.04 shall not apply to the imposition of an
Indemnified Newco 752 Liability, including as a result of a Determination or amended Tax Return and (ii) the effect of such imposition on Sharing Amounts with respect to years prior to the 752 Year shall be determined solely pursuant to
Section 5.04(c). For the avoidance of doubt, this Section 6.04 shall apply with respect to any Determination, amended Tax Return or recalculation not addressed in the prior sentence. 

  
 23 

 Section 6.05 Timing of Payments. Except as otherwise provided by this Agreement,
payments to be made under this Agreement to a Group member shall be made within ten (10) days of: 
 (a) an agreement between the
relevant parties in accordance with this Agreement that an amount is payable pursuant to Section 4.03, Section 5.04, Section 5.05, Section 6.01, Section 6.02, Section 6.04 or any other provision of this
Agreement; or 
 (b) a Determination. 

Section 6.06 No Duplicative Payments. It is intended that the provisions of this Agreement will not result in the duplicative
payment of any amount (including interest) that may be required under this Agreement, and the provisions of this Agreement shall be consistently interpreted and applied in accordance with that intent. 

Section 6.07 Late Payments. In the event that any payment required to be made under this Agreement is made after the date on which
such payment is due, interest will accrue on such amount from (but not including) the due date of the payment to (and including) the date such payment is actually made at the rate designated from time to time in Section 6621(a)(2) of the Code,
compounded on a daily basis. 
 ARTICLE VII 

ASSISTANCE AND COOPERATION 

Section 7.01 Assistance and Cooperation. GE, Newco, EHHC and Newco LLC shall cooperate (and cause their respective Group members
to cooperate) with each other and with each other’s agents, including accounting firms and legal counsel, at such time and to the extent reasonably requested by another party in connection with matters subject to this Agreement. Such
cooperation shall include, without limitation: 
 (a) the retention and timely provision on reasonable request of books, records,
documentation or other information relating to Taxes of the Newco Group, the Newco LLC Group, any GE O&G Subsidiary and any member of the GE Group (other than a GE O&G Subsidiary) to the extent related to GE O&G until one year after the
expiration of the applicable statute of limitations (giving effect to any extension, waiver or mitigation thereof); 
 (b) the filing or
execution of any power of attorney and other document that may be necessary or appropriate (including to give effect to Article IX) in connection with any Tax Return or any Tax Contest to carry out the intent of this Agreement; 

(c) the use of commercially reasonable efforts to obtain any documentation from a Taxing Authority or a third party that may be necessary
or helpful in connection with the foregoing; and 
 (d) the making of its employees and facilities reasonably available on a mutually
convenient basis to facilitate such cooperation; 

  
 24 

 provided that, in no event shall any party be entitled to any documentation or information with respect to
the GE Group that does not relate exclusively to a GE O&G Subsidiary or GE O&G. 
 Section 7.02 Tax Information. 

(a) General. Each of GE, Newco, EHHC and Newco LLC shall timely provide to the other party, upon reasonable request, information
required by the requesting party necessary for the filing of all Tax Returns, the making of any permissible election related to Taxes, the preparation for any audit by any Taxing Authority, and the prosecution or defense of any Tax Contest;
provided that in no event shall any party be entitled to any information of the GE Group that does not relate exclusively to a GE O&G Subsidiary or GE O&G. 

(b) GE O&G Tax Package. Without limiting Section 7.02(a), Newco and EHHC shall provide to GE in a format determined by GE all
information reasonably requested by GE as necessary to prepare any Tax Return described in Section 3.01 (a “Tax Package”). The Tax Package shall be prepared on a basis consistent with current practices of the GE Group
and the relevant Tax Return to which the Tax Package relates. Newco shall furnish to GE the Tax Package for the relevant GE Combined Tax Return in respect of a Taxable Year no later than 60 days after the close of the relevant Taxable Year. For the
avoidance of doubt, in accordance with Section 7.01 and Section 7.02, Newco shall also furnish GE workpapers and other such information and documentation as is reasonably requested by GE for Tax preparation purposes with respect to
any member of the Newco Group or the Newco LLC Group. 
 (c) Conflicts Committee Reports. On a calendar quarter basis, the chief
financial officer of Newco shall provide to the Conflicts Committee a report that sets forth the information delivered by GE to Newco pursuant to Section 5.03(a) and the information delivered by Newco to GE pursuant to
Section 5.03(b). 
 Section 7.03 Confidentiality. Any information or documents provided under this Agreement shall
be kept confidential by the person receiving the information or documents, except as may otherwise be necessary in connection with the filing of Tax Returns or in connection with any administrative or judicial proceedings relating to Taxes. Each of
GE, Newco, EHHC, Newco LLC and any member of their respective Groups shall not be required to provide the other person with any information and documentation requested under this Agreement if the provision of such information or documentation would
result in a waiver of attorney-client privilege or other applicable privilege or protection or would violate any Law. 
 ARTICLE VIII

 REPRESENTATIONS, COVENANTS AND ADDITIONAL TAX MATTERS 

Section 8.01 Newco LLC Representations and Covenants. Set forth on Schedule 8.01 are certain representations and covenants
relating to the Intended Tax Treatment of Schedule A Transactions. Newco LLC shall (and shall cause the other members of the Newco LLC Group to) not take or cause to be taken any action that would cause to be untrue (or fail to take or cause not to
be taken any action which inaction would cause to be untrue) any of the representations and covenants set forth on Schedule 8.01. Notwithstanding anything to the contrary contained in this Agreement, neither Newco LLC nor any other member of
the Newco LLC Group shall be treated as breaching any representation or covenant set forth on Schedule 8.01 during any period during which the GE Group (or a transferee of the GE Group) owns 50% or more of the aggregate voting power of the
outstanding Newco stock. 

  
 25 

 Section 8.02 Section 754 Election. Newco shall cause the Managing Member of
Newco LLC, on and after the date hereof and continuing throughout the term of this Agreement, to ensure that Newco LLC and any member of the Newco LLC Group (including any successors to Newco LLC and such members arising as a result of terminations
occurring pursuant to Section 708(b)(1)(B) of the Code) that is treated as a partnership for U.S. federal income tax purposes will have in effect an election under Section 754 of the Code (and under any similar provisions of applicable
U.S. state or local law) for each Taxable Year. 
 Section 8.03 Section 704(c) Methods. Notwithstanding anything to the
contrary contained in the LLC Agreement, Newco shall cause the Managing Member of Newco LLC to select methods under Section 704(c) of the Code for Newco LLC, initially and with respect to subsequent occasions for Section 704(c) method
selection, in such a manner that is projected to produce (taking into account the result of prior Section 704(c) method selections), to the extent reasonably possible, an annual allocation of depreciation and amortization with respect to all
Book/Tax Difference Assets based on the applicable Allocable Shares. For purposes of this Section 8.03, depreciation and amortization with respect to all Book/Tax Difference Assets shall include income and deduction items allocated
pursuant to the traditional method with curative allocations (within the meaning of Treas. Reg. § 1.704-3(c)) or the “remedial allocation method” (within the meaning of Treas. Reg. § 1.704-3(d)) to the extent attributable to
depreciation or amortization with respect to Newco LLC’s directly held assets and with respect to the assets of any partnership in which Newco LLC holds a direct interest or an indirect interest through one or more pass-through entities. 

Section 8.04 Sole Tax Sharing Agreement. 

(a) Any and all existing Tax Sharing Agreements (as defined in the Transaction Agreement), written or unwritten, between any member of the GE
Group and any member of the Newco LLC Group, if not previously terminated, shall be terminated as of the Closing Date without any further action between the parties thereto. Following the Closing Date, no member of any Group shall have any further
rights thereunder, and this Agreement shall be the sole Tax Sharing Agreement between a member of one Group and a member of another Group.. 

(b) If there is any conflict between this Agreement and any other Ancillary Agreement or Long-Term Ancillary Agreement (as such terms are
defined in the Transaction Agreement) with respect to a matter addressed herein, to the extent of such conflict, this Agreement shall prevail and control. 

(c) Without liming Section 8.04(a) or Section 8.04(b), Newco and Newco LLC acknowledge and agree that, from and after
the date hereof, as between this Agreement and the Transaction Agreement, this Agreement shall exclusively govern Tax matters and no provision of the Transaction Agreement, including Section 10.06 thereof, shall apply with respect to Tax
matters. 

  
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 Section 8.05 Dispute Resolution. 

(a) Each of Newco and Newco LLC acknowledges and agrees that, except as otherwise provided herein, this Agreement and the transactions, filings
or other actions contemplated by this Agreement (including any and all payments hereunder, whether or not in excess of the Threshold (as defined in the Stockholders Agreement)) have been approved by the board of directors of Newco. 

(b) To the extent there is a dispute between GE and Newco under this Agreement and the process for resolving such dispute is not specifically
addressed in this Agreement, if GE and Newco are unable to resolve such dispute within ten (10) days, (i) each of the chief financial officers of GE and Newco shall prepare certifications that resolve the disputed item or items in the
manner that each believes is appropriate and set forth in reasonable detail the basis for the determination (the “Dispute Certifications”), and (ii) the Dispute Certifications shall be submitted to Conflicts Committee for
resolution by the chief financial officer of GE and the Conflicts Committee in accordance with Article VI of the Stockholders Agreement; provided that to the extent that the disputed item or items are not resolved by the chief financial
officer of GE and the Conflicts Committee in accordance with Section 6.2 of the Stockholders Agreement, (i) Section 6.1(g) of the Stockholders Agreement shall not apply and (ii) the disputed item or items, including the Dispute
Certifications, shall be presented to the Independent Arbiter, and the Independent Arbiter shall resolve the disputed item or items in a timely manner. 

Section 8.06 Change in Tax Law. In the event of any change in or successor U.S. federal statute to the Code or any change in or
successor statute to other applicable Tax Law, the principles of this Agreement shall apply mutatis mutandis and the parties shall cooperate in good faith to apply such principles in such manner. 

ARTICLE IX 
 TAX
CONTESTS 
 Section 9.01 Notice. Within twenty (20) days after a party becomes aware of the commencement of a Tax
Contest that may give rise to Taxes for which another party has an indemnification obligation pursuant to this Agreement or with respect to which such other party has control or other rights under Section 9.02, such party shall notify
the other party of such Tax Contest; provided that to the extent that the GE Group owns less than 33% of the outstanding Common Units, GE shall only be entitled to receive notice of a Tax Contest for which GE would have an indemnification
obligation pursuant to this Agreement. Such notice shall provide that the notifying party may seek indemnification from the other party under this Agreement and shall attach copies of the pertinent portion of any written communication from a Taxing
Authority and contain factual information (to the extent known) describing any asserted Tax liability in reasonable detail and shall be accompanied by copies of any notice and other documents received from any Taxing Authority in respect of any such
matters; provided that in no event shall any party be entitled to any documentation or information with respect to the GE Group that does not relate exclusively to a GE O&G Subsidiary or GE O&G (except to the extent such information
is otherwise required to be provided pursuant to this Agreement). A failure of a party to comply with this Section 9.01 shall not relieve the other party of its indemnification or other payment obligations under this Agreement, except to the
extent such failure actually increases the amount of such other party’s liability. 

  
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 Section 9.02 Control of Tax Contests. 

(a) GE Tax Returns. In the case of any Tax Contest with respect to any Tax Return described in Section 3.01 (and, for the
avoidance of doubt, any other Tax Return filed by the GE Group) other than a Newco LLC Indemnified GE Return, GE shall have exclusive control over the Tax Contest, including exclusive authority with respect to any settlement of such Tax liability.
In the case of any Tax Contest with respect to a Newco LLC Indemnified GE Return, GE shall control the Tax Contest and Newco shall be kept reasonably informed of material developments relating to such Tax Contest and the Tax Contest shall not be
settled without Newco’s consent, which consent shall not be unreasonably withheld or delayed. 
 (b) Newco LLC Tax Returns. In
the case of any Tax Contest described in Section 9.02 of the LLC Agreement, the LLC Agreement shall govern. 
 (c) Other Tax
Contests. In the case of any Tax Contest with respect to any Tax Return relating to the Newco LLC Group (except as described in Section 9.02(b)), (i) Newco and GE shall have joint control over the Tax Contest to the extent the
Tax Contest directly relates any Shared Tax Benefits, Newco Formation Taxes, any Indemnified Newco 752 Liability or Taxes for which GE has an indemnification obligation pursuant to this Agreement, including settlement or compromise thereof, and
(ii) with respect to any such Tax Return that otherwise relates to a Pre-Closing Period, GE shall be kept reasonably informed of material developments relating to such Tax Contest and the Tax Contest shall not be settled without GE’s
consent, which consent shall not be unreasonably withheld or delayed; provided that to the extent that the GE Group owns less than 33% of the outstanding Common Units, clause (ii) of this Section 9.02(c) shall no longer apply. In
the case of any Tax Contest with respect to any Tax Return relating to the Newco Group, Newco shall control and, to the extent the Tax Contest directly relates any Shared Tax Benefits, Newco Formation Taxes, any Indemnified Newco 752 Liability or
Taxes for which GE has an indemnification obligation pursuant to this Agreement, GE shall have the right to participate in such Tax Contest at its own expense, shall be kept reasonably informed of material developments relating to such Tax Contest
and the Tax Contest shall not be settled without GE’s consent, which consent shall not be unreasonably withheld or delayed; provided that following the Trigger Date, GE shall no longer have the rights provided by this sentence with
respect to Tax Contests relating to Shared Tax Benefits, except that GE shall be kept reasonably informed of material developments relating to any such Tax Contest. 

(d) Rebalancing Payments. Notwithstanding anything in this Section 9.02 to the contrary, the party controlling a Tax Contest
that could result in Rebalancing Payment shall (i) not take into account whether an item at issue relates to a Shared Tax Benefit when determining how to conduct or settle such Tax Contest and (ii) keep the other party reasonably informed
of all material developments with respect to such Tax Contest. 

  
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 ARTICLE X 

GENERAL PROVISIONS 

Section 10.01 Notices. All notices, requests and other communications to any party hereunder shall be in writing (including e-mail
transmission, so long as a receipt of such e-mail is requested and received by non-automated response). All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to
5:00 p.m. on a business day in the place of receipt. Otherwise, any such notice, request or communication shall be deemed to have been received on the next succeeding business day in the place of receipt. All such notices, requests and other
communications to any party hereunder shall be given to such party as follows: 
  

	 	(a)	if to Newco to: 

 Baker Hughes, a GE company 

17021 Aldine Westfield Road 

Houston, Texas 77073 
 Attention:
William D. Marsh 
 Telephone: (713) 879-1257 

Facsimile: (713) 439-8472 

Email: will.marsh@bhge.com 
  

	 	(b)	if to Newco LLC to: 

 Baker Hughes, a GE company, LLC 

17021 Aldine Westfield Road 

Houston, Texas 77073 
 Attention:
William D. Marsh 
 Telephone: (713) 879-1257 

Facsimile: (713) 439-8472 

Email: will.marsh@bhge.com 
  

	 	(c)	if to EHHC to: 

 EHHC NewCo LLC 

17021 Aldine Westfield Road 

Houston, Texas 77073 
 Attention:
William D. Marsh 
 Telephone: (713) 879-1257 

Facsimile: (713) 439-8472 

Email: will.marsh@bhge.com 

  
 29 

	 	(d)	if to GE to: 

 General Electric Company 

41 Farnsworth Street 
 Boston,
Massachusetts 02210 
 Attention:         James M. Waterbury 

Email:               jim.waterbury@ge.com 

Section 10.02 Binding Effect. The provisions of this Agreement shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors and assigns. No provision of this Agreement is intended to confer any rights, benefits, remedies, obligations or liabilities hereunder upon any Person other than the parties hereto and their respective
successors and assigns. 
 Section 10.03 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF DELAWARE WITHOUT GIVING EFFECT TO ANY CHOICE OR CONFLICT OF LAW PROVISION OR RULE (WHETHER OF THE STATE OF DELAWARE OR ANY OTHER JURISDICTION) THAT WOULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE
STATE OF DELAWARE. 
 Section 10.04 Counterparts; Electronic Transmission of Signatures. This 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 10.05 Assignment; No Third-Party Beneficiaries. 

(a) This Agreement and all of the provisions hereto shall be binding upon and inure to the benefit of, and be enforceable by, the parties
hereto and their respective successors and permitted assigns, but neither this Agreement nor any of the rights, interests or obligations set forth herein shall be assigned by any party hereto without the prior written consent of the other parties
hereto and any purported assignment without such consent shall be void; provided, however, that a GE Group member may (i) assign its right to receive any Exchange Benefit under this Agreement to any Permitted Transferee to whom Common
Units and shares of Class B Common Stock are transferred in accordance with the LLC Agreement and the Stockholders Agreement, provided that such Person executes and delivers a Joinder agreeing to succeed to the applicable portion of such
member’s interest in this Agreement and to become a Party to this Agreement or (ii) pledge some or all of its rights, interests or entitlements in respect of Exchange Benefits under this Agreement to any bank in connection with a loan or
other indebtedness. 
 (b) Nothing in this Agreement shall be construed as giving any Person, other than the parties hereto and their heirs,
successors, legal representatives and permitted assigns, any right, remedy or claim under or in respect of this Agreement or any provision hereof. 

  
 30 

 Section 10.06 Severability. If any provision of this Agreement shall be held to be
illegal, invalid or unenforceable under any applicable Law, then such contravention or invalidity shall not invalidate the entire Agreement. Such provision shall be deemed to be modified to the extent necessary to render it legal, valid and
enforceable, and if no such modification shall render it legal, valid and enforceable, then this Agreement shall be construed as if not containing the provision held to be invalid, and the rights and obligations of the parties hereto shall be
construed and enforced accordingly. 
 Section 10.07 Entire Agreement. This Agreement, the Transaction Agreement, the LLC
Agreement and the Exchange Agreement constitute the entire agreement among the parties with respect to the subject matter of this Agreement and supersede all prior agreements and understandings, both oral and written, among the parties with respect
to the subject matter of this Agreement. Nothing in this Agreement shall create any third-party beneficiary rights in favor of any Person. 

Section 10.08 Amendments. This Agreement may not be amended or modified without the consent of each of GE, Newco, EHHC and Newco
LLC. 
 Section 10.09 Waiver. Any failure of any of the parties to comply with any obligation, representation, warranty,
covenant, agreement or condition herein may be waived at any time by any of the parties entitled to the benefit thereof only by a written instrument signed by each such party granting such waiver, but such waiver or failure to insist upon strict
compliance with such obligation, representation, warranty, covenant, agreement or condition shall not operate as a waiver of or estopped with respect to, any subsequent or other failure. 

Section 10.10 Creditors. None of the provisions of this Agreement shall be for the benefit of or enforceable by any creditors of a
party or any members of its Group, and no creditor who makes a loan to a party or any members of its Group may have or acquire (except pursuant to the terms of a separate agreement executed by the party in favor of such creditor) at any time as a
result of making the loan any direct or indirect interest in this Agreement other than as a secured creditor. 
 Section 10.11
Further Action. The parties shall execute and deliver all documents, provide all information and take or refrain from taking such actions as may be reasonably necessary or appropriate to achieve the purposes of this Agreement; provided
that, in no event shall any party be entitled to any documentation or information with respect to the GE Group that does not relate exclusively to a GE O&G Subsidiary or GE O&G 

Section 10.12 Right of Offset. Whenever a party is to pay any sum to any other party, any amounts that such party owes to the
party which are not the subject of a good faith dispute may be deducted from that sum before payment. 

  
 31 

 Section 10.13 Descriptive Headings; Interpretation. The descriptive headings of this
Agreement are inserted for convenience only and do not constitute a substantive part of this Agreement. Whenever required by the context, any pronoun used in this Agreement shall include the corresponding masculine, feminine or neutral forms, and
the singular form of nouns, pronouns and verbs shall include the plural and vice versa. The use of the word “including” in this Agreement shall be by way of example rather than by limitation. Reference to any agreement, document or
instrument means such agreement, document or instrument as amended or otherwise modified from time to time in accordance with the terms thereof, and if applicable hereof. Without limiting the generality of the immediately preceding sentence, no
amendment or other modification to any agreement, document or instrument that requires the consent of any Person pursuant to the terms of this Agreement or any other agreement will be given effect hereunder unless such Person has consented in
writing to such amendment or modification. Wherever required by the context, references to a Taxable Year shall refer to a portion thereof. The use of the words “or,” “either” and “any” shall not be exclusive. The
parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and
no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement. Wherever a conflict exists between this Agreement and any other agreement, this Agreement shall
control but solely to the extent of such conflict. References to agreements or other documents shall be deemed to refer to such agreement or other document as amended, restated, supplemented and/or otherwise modified from time to time. References to
any Law or statute shall be deemed to refer to such Law or statute, together with the rules and regulations promulgated thereunder, in each case as may be amended from time to time and any successor thereto. 

Section 10.14 LLC Agreement. This Agreement shall be treated as part of the LLC Agreement as described in Section 761(c) of
the Code and Treas. Reg. §§ 1.704-1(b)(2)(ii)(h) and 1.761-1(c). 
 [Signature Pages Follow] 

  
 32 

 IN WITNESS WHEREOF, the undersigned have executed or caused to be executed on their behalf this
Agreement as of the date first written above. 
  

			
	BAKER HUGHES, A GE COMPANY, LLC
	
	By: EHHC NewCo, LLC, its Managing Member
		
	By:	 	 /s/ Lee Whitley

	Name:	 	Lee Whitley
	Title:	 	Corporate Secretary

 [Signature Page to Tax Matters Agreement] 

 
			
	GENERAL ELECTRIC COMPANY
		
	By:	 	 /s/ James M. Waterbury

	Name:	 	James M. Waterbury
	Title:	 	Vice President

 [Signature Page to Tax Matters Agreement] 

 
			
	BAKER HUGHES, A GE COMPANY
		
	By:	 	 /s/ Lee Whitley

	Name:	 	Lee Whitley
	Title:	 	Corporate Secretary

 [Signature Page to Tax Matters Agreement] 

 
			
	EHHC NEWCO, LLC
		
	By:	 	 /s/ Lee Whitley

	Name:	 	Lee Whitley
	Title:	 	Corporate Secretary

 [Signature Page to Tax Matters Agreement]

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