Document:

Document

Exhibit 10.2

AWARD AGREEMENT
SENSATA TECHNOLOGIES HOLDING PLC
(the “Company”)

PERFORMANCE RESTRICTED STOCK UNITS 
Date: %%OPTION_DATE,’Month DD, YYYY’%-% (“Grant Date”)
Issue to:
%%FIRST_NAME%-% %%LAST_NAME%-% (“Participant”)

    %%TOTAL_SHARES_GRANTED,’999,999,999’%-% Performance Restricted Stock Units of the Company (the “PRSU”).  Each PRSU represents the right to potentially receive one Ordinary Share, par value €0.01 per Ordinary Share.
The foregoing PRSUs are “Performance Awards” as such term is in the Company's 2010 Equity Incentive Plan, as may be amended from time to time (the “Plan”), and such Performance Awards are subject to all of the terms and conditions of the Plan in effect from time to time, except as otherwise provided herein.  Any capitalized term used herein and not otherwise defined shall have the meaning ascribed to such term in the Plan. For valuable consideration, receipt of which is acknowledged, Participant agrees to the following additional terms and conditions.
PRSU Terms and Conditions
1.Plan Incorporated by Reference. This Award Agreement (this “Agreement”) is issued pursuant to the terms of the Plan and may be amended as provided in the Plan. This Agreement does not set forth all of the terms and conditions of the Plan, which are incorporated herein by reference. The Committee administers the Plan and its determinations regarding the operation of the Plan are final and binding. Copies of the Plan may be obtained upon written request without charge from the Legal Department of the Company. 
2.Definitions. For purposes of this Agreement, the following terms shall have the following meanings:
a.“Adjusted EPS” means the annual adjusted earnings per share during the Performance Year, which for the Company shall be calculated in accordance with Annex B attached hereto, and for each company in the Peer Group, shall be the annual adjusted earnings per share publicly disclosed by such company for the Performance Year (or calculated using publicly disclosed information).  Adjusted EPS for the Company includes share repurchases during the Performance Year, but excludes the results of any acquisitions that close after the second quarter of the applicable company’s fiscal year (only for the first year of such acquisition) and shall be adjusted for any stock splits, reverse stock splits or the like.  
b.“Banked Shares Modifier” means the percent of PRSUs to be banked in each Performance Year based upon the Company’s Relative Adjusted EPS Growth Performance during the Performance Year in accordance with Table 1 below.
c.“Peer Company” shall mean each of the companies listed on Annex A.
									
			

d.“Peer Group” means the companies listed on Annex A attached hereto, which will be amended to remove any Peer Company that is acquired (whether through merger, stock purchase or purchase of substantially all the assets of the company) or ceases to operate (whether through bankruptcy, insolvency or sale) during the Performance Period. 
e.“Performance Period” means January 1, 2021 through December 31, 2023.
f.“Performance Year” means each fiscal year for the Company beginning on January 1 and ending December 31 of each year during the Performance Period, and a similar 12-month fiscal period for each Peer Company that occurs in each of Year 1, Year 2 and Year 3.
g.“Relative Adjusted EPS Performance” means the Company’s Adjusted EPS Growth Performance when ranked among the Adjusted EPS Growth Performance of the Peer Group during the applicable Performance Year (e.g. the Company’s Adjusted EPS ranks 8th out of 20 Peer Companies during a Performance Year, the Relative Adjusted EPS Growth Performance will be the 60th percentile).
h.“ROIC” means Return on Invested Capital and is a percentage calculated in accordance with Annex C.
i.“ROIC Performance Modifier” means the modifier of the PRSUs that may vest under this Agreement as set forth in Table 2 below that will depend on the ROIC for the applicable Performance Year. 
j.“Target” means 100% of 1/3 of the PRSUs granted under this Agreement per Performance Year. 
k.“Three-Year CAGR Relative Performance” means the Company’s three-year compound annual growth rate of Adjusted EPS Growth Performance during the Performance Period as compared to the three-year compound annual growth rate of Adjusted EPS Growth Performance of the Peer Group during the Performance Period.
l.“Three-Year CAGR Modifier” shall equal the corresponding Banked Shares Modifier for Year 3 applied across the entire Performance Period if the Company’s Three-Year CAGR Relative Performance exceeds the 50th percentile of the Peer Group.
m.“Vesting Date” means the third anniversary of the Grant Date.
n.“Year 1” means the Company or the Peer Company’s fiscal year end during 2021.
o.“Year 2” means the Company or the Peer Company’s fiscal year end during 2022.
p.“Year 3” means the Company or the Peer Company’s fiscal year end during 2023. 
3.Vesting of PRSUs; Issuance of Ordinary Shares. Except as may be set forth in Section 4 below, the PRSUs (or a portion thereof) shall vest upon meeting the performance criteria described in this Agreement on the Vesting Date, provided the Participant remains employed by the Company or one of its Subsidiaries continuously through the Vesting Date. The number of PRSUs that will vest and the number of Ordinary Shares to be issued to the Participant on the Vesting Date will be determined based upon the Company’s Relative Adjusted EPS Growth Performance, together with the Company’s ROIC Performance Modifier, to be determined as follows: 
a.The PRSUs will bank, or accrue, in each Performance Year during the Performance Period as follows:
									
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1.Year 1: On the first anniversary of the Grant Date, between 0% and 100% of 1/3 of the PRSUs will be banked, or accrued, based upon the Company’s Relative Adjusted EPS Growth Performance during Year 1 set forth in Table 1 below, adjusted by the ROIC Performance Modifier for Year 1 set forth in Table 2 below.
2.Year 2: On the second anniversary of the Grant Date, between 0% and 125% of 1/3 of the PRSUs will be banked, or accrued, based upon the Company’s Relative Adjusted EPS Growth Performance during Year 2 set forth in Table 1 below, adjusted by the ROIC Performance Modifier for Year 2 set forth in Table 2 below.
3.Year 3: On the third anniversary of the Grant Date, between 0% and 150% of 1/3 of the PRSUs will be banked, or accrued, based upon the Company’s Relative Adjusted EPS Growth Performance during Year 3 set forth in Table 1 below, adjusted by the ROIC Performance Modifier for Year 3 set forth in Table 2 below.
b.On the Vesting Date, the number of PRSUs that shall vest will be equal to the greater number of the following amounts:
1.The cumulative number of PRSUs banked, or accrued, in accordance with Section 3(a) above; or
2.If the Company’s Three-Year CAGR Relative Performance exceeds the 50th percentile of the Peer Group and the Company’s Year 3 ROIC is 10% or greater, then the product of the total PRSUs granted in this Agreement multiplied by the Three-Year CAGR Modifier multiplied by the Year 3 ROIC Modifier.
c.      If by seven (7) business days prior to the first, second, or third anniversary of the Grant Date, a Peer Company has not reported its financial performance for a Performance Year, the Compensation Committee may decide to either (i) exclude the Peer Company for that Performance Year or (ii) calculate the Peer Company’s performance based on projections using the most recently disclosed financial results.

TABLE 1: RELATIVE ADJUSTED EPS GROWTH PERFORMANCE
																					
	Year 1 (2021) Relative Growth Performance of Adj. EPS	Year 1
Banked Shares Modifier
	Year 2 (2022) Relative  Growth Performance of
Adj. EPS
	Year 2
Banked Shares Modifier
	Year 3 (2023) Relative  Growth Performance of
Adj. EPS
	Year 3
Banked Shares
Modifier
	3 Yr. CAGR Relative Performance
							
							
							
							

									
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TABLE 2: ROIC PERFORMANCE MODIFIER
																		
	2021 ROIC	ROIC Performance Modifier	2022 ROIC	ROIC Performance Modifier	2023 ROIC	ROIC Performance Modifier
						
						
						
						

EXAMPLE

•Total PRSUs Granted – 2,400 PRSUs
•1/3 of PRSUs granted (i.e. 800 PRSUs) are used as the basis for determining the banking in Year 1, Year 2 and Year 3
•Each Year:  Number of PRSUs banked = 1/3 PRSUs granted * Banked Shares Modifier * ROIC Performance Modifier
•Number of PRSUs Vesting on Vesting Date is greater of:
◦Year 1 banked PRSUs + Year 2 banked PRSUs + Year 3 banked PRSUs OR
◦If Three-Year CAGR Relative Performance is greater than 50th percentile and Year 3 ROIC is 10% or greater, than = Total PRSUs granted * Three-Year CAGR Modifier * Year 3 ROIC Modifier

																					
		Year 1	Year 2	Year 3
		Actual	Modifier	Actual	Modifier	Actual	Modifier
	RELATIVE GROWTH PERFORMANCE OF 
ADJ EPS GROWTH PERFORANCE 
						
	ROIC						

Formula A = (2,400/3*50%*.85) + (2,400/3*100%*1.00) + (2,400/3*120%*1.15)
           = 340 + 800 + 1,104 = 2,244 PRSUs
Formula B = 2,400 * 120% * 1.15 = 3,312 PRSUs    
Formula B > Formula A so, 
Total PRSUs vested = 3,312 PRSUs

									
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4.Vesting on Termination of Employment, Death, Disability, Retirement and Change in Control.
i.General. Unless otherwise provided in this Section 4, any unvested PRSUs shall be forfeited immediately upon the date that Participant terminates his or her Service or otherwise ceases to be a Participant Eligible to Vest (“Termination Date”). Unless otherwise expressly provided in this Agreement or determined by the Committee or its designee, Participant’s right to vest in the PRSUs under the Plan, if any, will terminate as of such Termination Date and will not be extended by any notice period.
ii.Participant’s Death. Notwithstanding any provision in the Plan to the contrary, if a Participant dies while providing Service, the PRSUs shall immediately vest based on the banked amounts for those Performance Year(s) completed and vest at Target for any uncompleted Performance Year. The vested portion of the PRSUs shall be delivered to the executor or administrator of Participant’s estate or, if none, to the person(s) entitled to receive the vested PRSUs under Participant’s will or the laws of descent or distribution, and the unvested portion of the PRSUs shall be forfeited
iii.Participant’s Disability. Notwithstanding any provision in the Plan to the contrary, if a Participant terminates Service due to Disability, the PRSUs shall vest in full based on the banked amounts for those Performance Year(s) completed and vest at Target for any uncompleted Performance Year. 
iv.Participant’s Retirement. If the Participant’s status as an employee of the Company and all Affiliates terminates by reason of a Covered Retirement, as defined below, the PRSUs shall immediately vest based on the banked amounts for those Performance Year(s) completed prior to the Participant’s date of retirement plus the pro-rata of the Target for any uncompleted Performance Year (number of days employed during the Performance Year divided 365 multiplied by the Target for the uncompleted Performance Year). For purposes hereof, a “Covered Retirement” is the voluntary termination of a Retirement Eligible Individual who has provided the Company not less than six months’ prior notice of such employee’s intent to retire from the Company or an Affiliate. A “Retirement Eligible Individual” means an employee of the Company or an Affiliate who has attained at least 55 years of age and who has a combined age and years of credited employment service with the Company and/or all Affiliates of 65 years. This Section 4(d) shall not apply to any termination of Service during the 12-month period following the Grant Date.
v.Qualifying Termination. Upon a Qualifying Termination, unvested PRSUs that otherwise would have vested within six months of the Participant’s Termination Date shall vest on the Participant’s Termination Date in full at the sum of the banked amounts for those Performance Year(s) completed (if any) plus Target for any uncompleted Performance Year(s). Qualifying Termination shall mean, with respect to the Participant, an involuntary termination of employment with the Company or its Affiliates other than a termination by reason of death, Disability, Covered Retirement, Change in Control, or for Cause. 
vi.Change in Control. In the event of a Change in Control, the PRSU will convert to time-based RSUs based on the greater of (i) the sum of the Target for each Performance Year or (ii) the sum of the banked amounts plus Target for uncompleted Performance Year(s). Vesting of the time-based RSUs will assume the vesting schedule of the original PRSU award. The time-based RSUs as so converted:
i.Will automatically accelerate and vest in full if within the 24-month period following the Change in Control, the Participant is terminated by the Company or the continuing entity or any of its Affiliates without Cause;
									
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ii.Will automatically accelerate and vest in full at the Change in Control if this Agreement is not assumed or replaced by the acquirer/continuing entity or replaced by other terms or awards deemed by the Compensation Committee to be appropriate; or
iii.Will vest on the third anniversary of the Grant Date, if vesting has not otherwise been accelerated as provided above.

5.Non-Transferability.  This Agreement or the rights hereunder may not be Transferred.
6.No Dividends.  Participant shall not be entitled to receive dividends or dividend equivalents with respect to the number of unvested Ordinary Shares covered by the PRSUs.
7.No Security Holder Rights.  Participant shall have no rights as a security holder with respect to the unvested Ordinary Shares covered by the PRSUs.  
8.Taxes.  The Participant acknowledges that the Company has the right to require Participant to remit to the Company an amount sufficient to satisfy his or her minimum federal, state, local and foreign withholding tax requirements, or to deduct from all payments under the Plan amounts sufficient to satisfy such minimum withholding tax requirements.  Participant further acknowledges that the ultimate liability for all federal, state, local and foreign income taxes, social insurance, payroll tax, or other tax-related items related to the Participant’s participation in the Plan is and remains the Participant’s responsibility and may exceed the amount actually withheld by the Company.  
9.Withholding.  Participant authorizes the Company and/or its Subsidiaries, or their respective agents, at their discretion, to satisfy the Participant’s tax obligations that must be withheld by the Company and/or its Subsidiaries by withholding in Ordinary Shares to be issued upon vesting of the PRSUs, or in the sole discretion of the Company, by any other appropriate method.
10.Data Protection.  Participant consents to the collection and processing of Personal data relating to the Participant so that the Company and its Affiliates can fulfill their obligations and exercise their rights under the Plan and generally administer and manage the Plan.  “Personal data” shall include but may not be limited to, data about participation in the Plan and securities offered or received, purchased or sold under the Plan from time to time and other appropriate financial and other data (such as the date on which the PRSUs were granted, Participant’s name and address) about the Participant and his or her participation in the Plan.  Participant accepts that the Personal data will be administered and processed by the Company or any other agent or person designated by the Company.  Participant is entitled to request access to the data referring to the Participant and held by the Company and to request the amendment or deletion of such data.  Participant also gives express consent to the Company to transfer and process his/her Personal data to the United States in accordance with the applicable laws and regulations of the United States even if the level of Personal data protection in the United States may be lower than in the Participant’s country. Participant acknowledges that he/she is free to withdraw his/her consent at any time.
11.Language.  Participant acknowledges that the Plan and this Agreement are provided in English only and waives his/her right to translated Plan documentation.
12.Discretionary Nature of Benefit; No Right to Continued Employment; No Entitlement to Future Awards. Participant understands that under this Agreement, grants of PRSUs are made at the complete discretion of the Company pursuant to the Plan.  The offer to participate in the Plan does not constitute an acquired right.  Nothing in this Agreement shall confer on any Participant any right to continue in the employment of the Company or its Subsidiaries or interfere in any way 
									
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with the right of the Company or its Subsidiaries to terminate such Participant’s employment at any time for any reason or to continue such Participant’s present (or any other) rate of compensation. The grant of the PRSUs under any award to any Participant is a one-time benefit and shall not create any rights in such Participant to any subsequent awards by the Company, no award hereunder shall be considered a condition of such Participant’s employment, and no profit with respect to an award shall be considered part of such Participant’s salary or compensation under any severance statute or other applicable law.
This Agreement may be executed in one or more counterparts (including by means of telecopied signature pages), all of which taken together shall constitute one and the same Agreement.
*    *    *    *

									
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IN WITNESS WHEREOF, the Company, acting by and through its duly authorized officers, has executed this Agreement effective as of the date first above written.

SENSATA TECHNOLOGIES HOLDING PLC
By: 

__________________________
Name:  Jeff Cote
Title:    CEO & President
Accepted and Agreed:

____________________________
%%FIRST_NAME%-% %%LAST_NAME%-%

									
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Annex A

Peer Group

									
	AMETEK, Inc. (AME)	American Axle & Manufacturing, Inc. (AXL)	Amphenol Corporation (APH)
	Aptiv plc (APTV)	Autoliv Inc. (ALV)	BorgWarner, Inc. (BWA)
	Continental AG (CON-DE)	Dana Incorporated (DAN)	FLIR Systems, Inc. (FLIR)
	Fortive Corporation (FTV)	Gentex Corporation (GNTX)	Gentherm Incorporated (THRM)
	HELLA GmbH (HLE-DE)	Lear Corporation (LEA)	Littelfuse, Inc. (LFUS)
	Melexis SA (MELE-BE)	Rockwell Automation, Inc. (ROK)	Roper Technologies, Inc. (ROP)
	TE Connectivity Ltd (TEL)	Visteon Corporation (VC)	

									
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Annex B

Calculation of Adjusted Earnings Per Share

Adjusted earnings per share (“Adjusted EPS”) is a non-GAAP financial measure1 reported in the Company’s Annual Report on Form 10-K as well as in each of its quarterly earnings releases and earnings presentations.2

The Company defines Adjusted EPS as adjusted net income (“ANI”) divided by the dilutive weighted-average ordinary shares outstanding.

ANI is also a non-GAAP financial measure, and the Company defines ANI as net income (or loss), determined in accordance with GAAP, adjusted to exclude the following items:  (i) Restructuring related and other3, (ii) Financing and other transaction costs4, (iii) Step-up depreciation and amortization5, (iv) Deferred loss/(gain), net on derivative instruments6, (v) Amortization of debt issuance costs7, and (vi) Deferred taxes and other tax related8.

Dilutive weighted-average ordinary shares is a financial measure calculated and presented in accordance with GAAP9. 

1     Refers to a financial measure calculated and presented on the basis of methodologies other than in accordance with generally accepted accounting principles (“GAAP”).
2     Each of our Annual Reports on Form 10-K, quarterly earnings releases, and quarterly earnings presentations can be found in the “Investor Relations” section of the Company’s website, www.investors.sensata.com.  Copies of our Annual Report on Form 10-K and our quarterly earnings releases can also be obtained from the SEC website, www.sec.gov.  
3     Includes, for example, (i) amounts calculated in accordance with GAAP and presented in the ‘Restructuring and other charges, net’ line of the Company’s consolidated statement of operations, (ii) amounts recognized in the Company’s consolidated statement of operations that relate to contingent liabilities assumed in connection with a business combination, and (iii) other income, expenses, gains, and losses that relate to planned strategic actions or material transactions that management believes are either unique or unusual, or that impact the comparability of the Company’s operating results relative to prior period operating results or forecasted results.
4     Includes, for example, (i) the net loss (or gain) on debt financing, (ii) losses (or gains) related to the divestiture of a business, and (iii) transaction costs recognized in connection with a business combination transaction, each of which is calculated and presented in accordance with GAAP.
5     Refers to depreciation and amortization expense related to the step-up (or step-down) in value of tangible and intangible assets that are recognized in connection with business combination and asset acquisition transactions (i.e., as those terms are defined in GAAP).
6     Primarily includes the net loss (or gain) on commodity forward contracts, as calculated and presented in accordance with GAAP.
7     As calculated and presented in accordance with GAAP.
8     Refers to (i) the deferred provision for/(benefit from) income taxes, as calculated and presented in accordance with GAAP, (ii) adjustments to unrecognized tax benefits that are recognized in the Company’s consolidated statement of operations, and (iii) withholding tax expense associated with the repatriation of the cash.
9     However, and for the avoidance of doubt, if in a particular period the Company reports a net loss, calculated and presented in accordance with GAAP, certain adjustments are made to account for the dilutive and anti-dilutive effects of potentially outstanding equity securities.

									
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Annex C

Calculation of ROIC

ROIC = NOPAT divided by Total Invested Capital 
NOPAT = adjusted EBIT minus adjusted taxes
Total Invested Capital = Average Trailing 5 Quarters of (Shareholder Equity + Total Long-Term Debt + Deferred Taxes) plus (Long-Term Capital Leases & Other Obligations)

									
		11Document

        Exhibit 10(a)

        

March 1, 2021 Equity Grant Agreement
GE 2007 Long-Term Incentive Plan
        (as amended and restated April 26, 2017, and as further amended and restated February 15, 2019)

GE Stock Option Grant Agreement “Grant Agreement”
 For <<Employee Name>> (“Grantee”)

   
																		
	Grant Date	Option Shares Granted	Option Exercise Price*	Option
Expiration Date
	Vesting Schedule
	Number of 
Option Shares
	Vesting Date
	March 1, 2021	<<Granted>>	$	March 1, 2031	50%	March 1, 2023
	50%	March 1, 2024

*Exercise price shall be no less than the Fair Market Value of a Share on the Grant Date.
   
1.Grant. The Management Development and Compensation Committee ("Committee") of the Board of Directors of General Electric Company ("Company") has granted an Option to purchase the above number of Shares to the individual named in this Grant Agreement ("Grantee") subject to the terms of this Grant Agreement.  Without limiting any condition of this Option award, the award is subject to cancellation and forfeiture if the Grantee does not confirm acceptance within 45 days of the Grant Date.  Once vested, the Option entitles the Grantee to purchase from the Company the vested number of Shares of Company common stock, par value $0.06 per Share, each at the Option Exercise Price provided above, in accordance with the terms of this Grant Agreement, the GE 2007 Long-Term Incentive Plan as amended and restated April 26, 2017 and as further amended and restated February 15, 2019 ("Plan"), and any rules, procedures and sub-plans (including country addenda) adopted by the Committee. 

2.   Vesting and Expiration Date.  In order for all or part of the Option to become vested, the Grantee must be continuously employed by the Company and its Affiliates from the Grant Date through the applicable Vesting Date listed above.  The Option shall be cancelled and forfeited on the earlier of the Expiration Date and termination of employment for any reason, except as specifically provided below: 

i.Death or Disability.  If the Grantee's employment with the Company and its Affiliates terminates prior to the Vesting Date as a result of the Grantee's death or disability, then the Option shall vest and become immediately exercisable as of such 

        Exhibit 10(a)

termination and shall remain exercisable until the Expiration Date.  For this purpose, “disability” shall have the same definition as provided in the long-term disability plan sponsored by the Company or an Affiliate in which the Grantee is eligible to participate.

ii.Retirement Eligibility.  If, on or after the first anniversary of the Grant Date (and prior to the Vesting Date), the Grantee attains age 60 and completes 5 years of continuous employment with the Company and its Affiliates, then the Option shall vest and become immediately exercisable as of such date (the latter of attainment of age 60 and completion of 5 years of continuous employment) and shall remain exercisable until the Expiration Date.

iii.Transfer of Business to Successor Employer.  If the Grantee's employment with the Company and its Affiliates terminates prior to the Vesting Date as a result of transferring directly to employment with a successor employer in connection with transfer by the Company or Affiliate of a business operation, then the Option shall vest and become immediately exercisable as of such termination, but shall remain exercisable only until the earlier of (a) 3 months after such termination and (b) the original Expiration Date. 

iv.Termination of Employment for Cause.  If the Grantee’s employment with the Company and its Affiliates is terminated for Cause (as defined below and determined by the Company in its sole discretion), the Option shall be cancelled immediately (whether vested or unvested) and shall be unexercisable.

For this purpose, “Cause” shall be determined by the Company in its sole discretion and includes:  (a) breach of the Employee Innovation and Proprietary Information Agreement or any other confidentiality, non-solicitation, or non-competition agreement with the Company or Affiliate, or breach of a material term of any other agreement with the Company or Affiliate; (b) engagement in conduct that results in, or has the potential to cause, material harm financially, reputationally, or otherwise to the Company; (c) commission of an act of dishonesty, fraud, embezzlement or theft; (d) conviction of, or plea of guilty or no contest to a felony or crime involving moral turpitude; or (e) failure to comply with the Company’s or Affiliate’s policies and procedures, including, but not limited to, The Spirit and Letter.

v.Other Termination of Employment.  If the Grantee’s employment with the Company and its Affiliates terminates prior to the Vesting Date for any reason not described above, then the unvested portion of the Option shall be cancelled as of such termination and the vested portion of the Option shall remain exercisable only until the earlier of (a) 3 months after such termination and (b) the original Expiration Date. 

3.     Notice and Manner of Exercise. The Grantee may elect to exercise all or part of the Option (to the extent vested) by notifying the Company (through such administrative procedures as it may establish) of the number of Shares to be purchased (exercised) and the date or Share 

        Exhibit 10(a)

price upon which such Options shall be exercised.  [The Grantee may choose to exercise either by (i) paying the Option Exercise Price (plus applicable fees and tax withholding) in U.S. dollars (or the currency equivalent thereof) in order to receive the exercised number of Shares or (ii) electing a sell-all “cashless exercise” in which the exercised number of Shares are sold and the cash proceeds (less an amount to cover the Option Exercise Price and applicable tax withholding and fees) are delivered to the Grantee.] Delivery shall be electronic through the brokerage account established by the Company for the Grantee, or in such other medium as is determined by the Company.

The Grantee is ultimately responsible for any and all applicable taxes, regardless of the amount withheld or reported.  Notwithstanding the foregoing, the date of issuance or delivery of Shares may be postponed by the Company for such period as may be required for it with reasonable diligence to comply with any applicable listing requirements of any national securities exchange and requirements under any law or regulation applicable to the issuance or transfer of such Shares to the extent such postponement is permissible under Section 409A of the Code.  Likewise, the method of exercising Options under this Grant Agreement may be adjusted for compliance with applicable law in the jurisdiction applicable to the Grantee.

4.     Data Security and Privacy.   
i.Data Collection, Processing and Usage.  Personal data collected, processed and used by the Company in connection with Awards granted under the Plan includes the Grantee’s name, home address, email address, telephone number, date of birth, social insurance number or other identification number, salary, citizenship, job title, any Shares or directorships held in the Company, and details of all Awards granted, cancelled, exercised, vested, or outstanding.  In granting Awards under the Plan, the Company will collect the Grantee’s personal data for purposes of allocating Shares in settlement of the Awards and implementing, administering and managing the Plan. The Company collects, processes and uses the Grantee’s personal data in compliance with GE's Employment Data Protection Standards and the Uses of Employment Data for GE Entities.  The Grantee may exercise rights to access, correction, or restriction or deletion where applicable, by contacting the Grantee’s local HR manager or initiating a request through www.onehr.ge.com.

ii.Administrative Service Provider.  The Company transfers the Grantee’s personal data to UBS Financial Services, which assists with the implementation, administration and management of the Plan (the “Third-Party Administrator”).  In the future, the Company may select a different Third-Party Administrator and share the Grantee’s personal data with another company that serves in a similar manner.  The Third-Party Administrator will open an account for the Grantee to receive and trade Shares acquired under the Plan.  The Grantee will be asked to agree on separate terms and data processing practices with the Third-Party Administrator, which is a condition to the Grantee’s ability to participate in the Plan.  The privacy policy of the Third-Party Administrator may be reviewed here.

        Exhibit 10(a)

5.Non-solicitation, Non-competition and Compliance with Agreements.  During the Grantee’s employment with the Company or its Affiliate, and for the one-year period following termination of such employment (the “Restriction Period”), the Grantee will not, without prior written approval from the Senior Human Resources Manager of the Grantee’s Company business segment: (a) whether on his or her own behalf or in conjunction with any other person or third party, directly or indirectly solicit or encourage any person who is a Lead Professional Band or higher employee of the Company or any of its Affiliates (a “Restricted Person”) to terminate his or her employment relationship with, or accept any other employment outside of, the Company and its Affiliates; (b) directly hire, or recommend or cause to be hired by an entity for which the Grantee works, or with which the Grantee is otherwise associated or owns more than a 1% ownership interest, any person who is, or was within one year before or after the Grantee’s termination of employment with the Company and its Affiliates, a Restricted Person (this restriction does not apply where legally impermissible, such as California); or (c) provide any non-public information regarding any Restricted Person, including but not limited to, compensation data, performance evaluations, skill sets or qualifications, etc., to any external person in connection with employment outside the Company and its Affiliates, including, but not limited to, recruiters and prospective employers.  The above restrictions do not apply once a Restricted Person has been formally notified of his or her impending layoff from the Company or any of its Affiliates.

In addition, the Grantee agrees that during the Restriction Period, the Grantee will not, without prior written approval from the Senior Human Resources Manager of the Grantee’s Company business segment, whether directly or indirectly, perform activities or services in the Restricted Area for any Competitive Company which: (a) are similar in nature to the activities and services the Grantee performed for the Company or its Affiliate (or gained confidential information about, as described in the Employee Innovation and Proprietary Information Agreement  or “EIPIA”) during the last two years of Grantee’s employment; and/or (b) will include Grantee working on products or services that are competitive with the products or services the Grantee worked on during the last two years of Grantee’s employment with the Company or its Affiliate. The term “Competitive Company” means any company or other third party that provides products and services that are competitive with the Company or its Affiliates.  [The term “Restricted Area” means any area within the country in which the Grantee is based where the Company or its Affiliate has material business operations as of Grantee’s termination of employment and in which the Grantee has provided services, had a material presence or influence, or received confidential information about (as described in the EIPIA) at any time during the last two years of the Grantee’s employment with the Company or its Affiliate. The Grantee understands and agrees that, given the nature of the business of the Company and its Affiliates and the Grantee’s position with the Company or its Affiliate, the foregoing Restriction Period and Restricted Area are reasonable and appropriate to protect the Company’s legitimate business interests and goodwill.] The foregoing restrictions do not apply where legally impermissible (such as California).  To the extent the Grantee is subject to an existing non-competition agreement with the Company or any of its affiliates (the “Prior Agreement”), the Prior Agreement shall be incorporated herein by reference and the Prior Agreement and this Grant Agreement shall be read together; 

        Exhibit 10(a)

provided, however, that where the provisions are inconsistent, the more restrictive covenant shall apply.
Furthermore, during the Grantee’s employment with the Company or its Affiliate, and for all periods thereafter, the Grantee will not breach his or her EIPIA or otherwise disclose the Company’s or Affiliate’s non-public information.  

The Grantee agrees that any breach by him or her of the foregoing obligations inevitably would cause substantial and irreparable damage to the Company and its Affiliates for which money damages may not be an adequate remedy.  Accordingly, the Grantee agrees that the Company and its Affiliates will be entitled to an injunction and/or other equitable relief, without the necessity of posting security, to prevent the breach of such obligations.  The Grantee also agrees to indemnify and hold the Company and its Affiliates harmless from any loss, claim or damages, including, without limitation, all reasonable attorneys’ fees, costs and expenses incurred in enforcing its rights under this Grant Agreement, as well as repay any payments made hereunder (regardless of whether the Option is vested), except to the extent that such reimbursement is prohibited by law.

The Grantee agrees that the payment and benefits provided for in the Grant Agreement constitute fair and reasonable consideration for Grantee’s compliance with this section.

6.Additional Requirements.  The Company reserves the right to impose other requirements on the Award, Shares acquired pursuant to the Award, and the Grantee's participation in the Plan to the extent the Company determines, in its sole discretion, that such other requirements are necessary or advisable in order to comply with local law or to facilitate the operation and administration of the Award and the Plan.  Without limiting the generality of the foregoing, the Company may require the Grantee to sign any agreements or undertakings that may be necessary to accomplish the foregoing.

7.Alteration/Termination.  Under the express terms of this Grant Agreement, the Committee shall have the right at any time in its sole discretion to amend, alter, suspend, discontinue or terminate the Option without the consent of the Grantee.  Furthermore, if the Company determines in its sole discretion that the Grantee has engaged in conduct that (a) constitutes a breach of this Grant Agreement, the EIPIA or any other confidentiality, non-solicitation, or non-competition agreement with the Company or its Affiliates, (b) results in (or has the potential to cause) material harm financially, reputationally, or otherwise to the Company or its Affiliates or (c) occurred prior to the Grantee’s termination of employment and would give rise to a termination for Cause (regardless of whether such conduct is discovered before or after the Grantee’s termination of employment), the unexercised portion of the Option shall be cancelled immediately, and any amounts previously conveyed under this Grant Agreement shall be subject to recoupment.  In any event, the Option provided under this Grant Agreement shall be further subject to the Company’s policy with respect to compensation recoupment, as in effect and amended from time to time.  The Grantee agrees that the Company may take any such actions as are necessary to effectuate recoupment or applicable law without further consent or action being required by the Grantee, including issuing instructions to any Third-Party Administrator to (i) hold the Grantee’s Shares and other amounts acquired under the Plan and/or (ii) reconvey, transfer, or otherwise return such 

        Exhibit 10(a)

Shares and other assets to the Company.  Also, the Option shall be null and void to the extent the grant of the Option or the vesting or exercise thereof is prohibited under the laws of the country of residence of the Grantee.

8.Plan Terms and Definitions.  Except to the extent that the context clearly provides otherwise, all terms used in this Grant Agreement have the same meaning as given such terms in the Plan.  This Grant Agreement is subject to the terms and provisions of the Plan, which are incorporated by reference.  In the event of any conflict between the provisions of this Grant Agreement and those of the Plan, the provisions of the Plan shall control.

9.Interpretation and Construction.  This Grant Agreement and the Plan shall be construed and interpreted by the Committee, in its sole discretion.  Any interpretation or other determination by Committee (including correction of any defect or omission and reconciliation of any inconsistency) shall be binding and conclusive.  All determinations regarding enforcement, waiver or modification of the cancellation and rescission and other provisions of this Grant Agreement shall be made in the Committee’s sole discretion.  Determinations made under this Grant Agreement and the Plan need not be uniform and may be made selectively among individuals, whether or not such individuals are similarly situated.

10.Severability.  The invalidity or unenforceability of any provision of the Plan or this Grant Agreement will not affect the validity or enforceability of any other provision of the Plan or this Grant Agreement, and each provision of the Plan and this Grant Agreement will be severable and enforceable to the extent permitted by law.

11.Shareholder Rights.  The Grantee shall not have any voting or other Shareholder rights unless and until Shares are actually delivered to the Grantee.

12.No Employment Rights.  The grant of the Award described in this Grant Agreement does not give the Grantee any rights in respect of employment with the Company or any of its Affiliates.

13.Discretionary Award, Extraordinary Benefit.  Awards under the Plan are granted to employees of the Company and its Affiliates in the Committee’s sole discretion.  The Award described in this Grant Agreement is a one-time benefit and does not create any contractual or other right to receive other Awards under the Plan or other benefits in lieu thereof.  Future grants, if any, will be at the sole discretion of the Committee.  The Grantee’s participation in the Plan is voluntary.  This Award (and each other Award, if any, granted under the Plan) constitutes an extraordinary item of compensation and is not part of the Grantee’s normal or expected compensation for purposes of calculating any severance, retirement, or other benefit rights (unless otherwise expressly provided in an applicable benefit plan).

14.No Transfer or Assignment.  No rights under this Award shall be assignable or transferable by the Grantee, except to the extent expressly permitted by the Plan.

        Exhibit 10(a)

15.Successors and Assigns.  The Company may assign any of its rights under this Grant Agreement.  This Grant Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company.  Subject to the restrictions on transfer set forth herein, this Grant Agreement will be binding upon the Grantee and the Grantee's beneficiaries, executors or administrators.

16.Section 409A.  To the extent applicable, this Grant Agreement shall be construed and administered consistently with the intent to comply with or be exempt from the requirements of Section 409A of the Code (“Section 409A”) and any state law of similar effect (i.e., applying the exemption for stock rights described in Treas. Reg. § 1.409A-1(b)(5) and/or another exemption).  

17.Entire Agreement.  This Grant Agreement, the Plan, and any rules, procedures and sub-plans (including country addenda) adopted by the Committee contain all of the provisions applicable to the Option.  No other statements, documents or practices may modify, waive or alter such provisions unless expressly set forth in writing, signed by an authorized officer of the Company and delivered to the Grantee.

By acknowledging this Grant Agreement, the Grantee acknowledges and confirms that the Grantee has read this Grant Agreement and the Plan (including applicable addenda), and the Grantee accepts and agrees to the provisions therein.

18.Electronic Delivery.  The Company may, in its sole discretion, decide to deliver any documents related to this or other Awards under the Plan by electronic means.  The Grantee hereby consents to receive such documents electronically and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.

19.Global Addendum.  Notwithstanding any provisions in this document to the contrary, the Option will also be subject to the special terms and conditions set forth on Appendix A for Grantees who reside outside of the United States.  Moreover, if a Grantee is not a resident of any of the countries listed on Appendix A as of the Grant Date, but relocates to one of the listed countries at any point thereafter, the special terms and conditions for such country will apply to the Grantee, to the extent the Company determines that the application of such terms and conditions is necessary or advisable in order to comply with local law or facilitate the administration of the Plan.  Appendix A constitutes part of this Grant Agreement.

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