Document:

Exhibit 10.10

 

 

 

 

 

AMENDED AND RESTATED GE DIGITAL 

MASTER PRODUCTS AND SERVICES AGREEMENT

 

dated as of November 13, 2018

 

between

 

GE DIGITAL LLC

 

and

 

BAKER HUGHES, A GE COMPANY, LLC

 

 

    1 

     

    

TABLE OF
CONTENTS

 

Page

 

	Article I DEFINITIONS	8
	 	 
	Section 1.01	Certain Defined Terms	8
	 	 	 
	Article II APPOINTMENT; SERVICES AND SERVICES MANAGERS	15
	 	 
	Section 2.01	Appointed Reseller; Exclusivity	15
	Section 2.02	[Intentionally Left Blank]	16
	Section 2.03	GE Digital Offerings to be Provided	16
	Section 2.04	Duration of Services	18
	Section 2.05	Request for New Services	18
	Section 2.06	Service Managers	19
	Section 2.07	Local Implementing Agreements	19
	Section 2.08	Marketing and Publicity	19
	 	 	 
	Article III STATEMENTS OF WORK	20
	 	 
	Section 3.01	Entering into Statements of Work	20
	Section 3.02	Project Change	21
	Section 3.03	Replacement of Project Leaders	21
	Section 3.04	Subcontracting	21
	 	 	 
	Article IV GE DIGITAL OFFERINGS	22
	 	 
	Section 4.01	GE Digital Offerings	22
	Section 4.02	[Intentionally Left Blank]	22
	Section 4.03	Baker Hughes’ Responsibilities	22
	Section 4.04	[Intentionally Left Blank]	25
	Section 4.05	Software	25
	Section 4.06	Customer Agreements for Professional Services	25
	Section 4.07	[Intentionally Left Blank]	25
	Section 4.08	[Intentionally Left Blank]	25
	Section 4.09	Access	26
	 	 	 
	Article V INTELLECTUAL PROPERTY	26
	 	 
	Section 5.01	License to Baker Hughes Intellectual Property and Content	26
	Section 5.02	License for Baker Hughes Use	27
	Section 5.03	Access for Product Development	27
	Section 5.04	[Intentionally Left Blank]	27
	Section 5.05	IP Ownership	27
	Section 5.06	Governmental Restrictions and Approvals	28
	Section 5.07	Third-Party IP	28
	Section 5.08	Open Source	28
	 	 	 

 

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	Article VI OTHER ARRANGEMENTS	29
	 	 
	Section 6.01	Third-Party Software and Software Licenses	29
	 	 	 
	Article VII ADDITIONAL AGREEMENTS	29
	 	 
	Section 7.01	Security and Data Privacy	29
	Section 7.02	Costs	30
	Section 7.03	No Right to Set Off	31
	Section 7.04	Taxes	31
	 	 	 
	Article VIII STANDARD FOR SERVICEs; INDEMNITY	33
	 	 
	Section 8.01	Standard for Services	33
	Section 8.02	Compliance with Law; Professional Services	33
	Section 8.03	[Intentionally Left Blank]	33
	Section 8.04	[Intentionally Left Blank]	33
	Section 8.05	Indemnification for Certain Intellectual Property Infringement	33
	Section 8.06	Indemnification Procedure	34
	Section 8.07	Disclaimer of Warranties	34
	Section 8.08	Limitations of Liability	35
	Section 8.09	No Reporting Obligations	36
	 	 	 
	Article IX GOVERNANCE; DISPUTE RESOLUTION	36
	 	 
	Section 9.01	Governance	36
	Section 9.02	Governance Council	36
	Section 9.03	Dispute Resolution	37
	 	 	 
	Article X TERM AND TERMINATION	38
	 	 
	Section 10.01	Term and Termination	38
	Section 10.02	Termination Charges	38
	Section 10.03	Effect of Termination	38
	Section 10.04	Termination Assistance Services	39
	Section 10.05	Force Majeure	39
	 	 	 
	Article XI GENERAL PROVISIONS	40
	 	 
	Section 11.01	Independent Contractors	40
	Section 11.02	Treatment of Confidential Information	40
	Section 11.03	Audit	41
	Section 11.04	Further Assurances	41
	Section 11.05	Notices	41
	Section 11.06	Entire Agreement	42
	Section 11.07	No Third-Party Beneficiaries	42
	Section 11.08	Amendment; Waiver	42
	Section 11.09	Governing Law	42

 

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	Section 11.10	Counterparts; Electronic Transmission of Signatures	42
	Section 11.11	Assignment	42
	Section 11.12	Rules of Construction	43
	Section 11.13	Non-Recourse	43
	Section 11.14	Export Law Compliance	43
	Section 11.15	The GE Integrity Guide for Suppliers, Contractors and Consultants	43
	Section 11.16	Subcontractor Flow Downs for United States Government Commercial Items Contracts	44
	Section 11.17	No Conflict	44
	Section 11.18	Source Code Escrow	44

 

SCHEDULES

 

	SCHEDULE 2.01-1	Baker Hughes Channel SIC Codes and Descriptions
	SCHEDULE 2.01-2	Baker Hughes Named Customers List
	SCHEDULE 2.01-3	GE Digital Installed Customer Base List
	SCHEDULE 2.03(a)	GE Digital Offerings
	SCHEDULE 2.04(b)	End of Life Policy
	SCHEDULE 2.05(a)	Form of Request for New Services
	SCHEDULE 2.06(a)	GE Digital Services Manager
	SCHEDULE 2.06(b)	Baker Hughes Services Manager
	SCHEDULE 3.01(a)	Form of Statement of Work
	SCHEDULE 4.05(a)	Hosted Services Documentation
	SCHEDULE 4.08(e)	Service Level Agreement; Remedies; Reporting
	SCHEDULE 7.02(a)	Post-MPSA Trigger Date Pricing
	SCHEDULE 7.02(b)	Wiring Instructions
	SCHEDULE A	Core Requirements

 

 

 

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AMENDED
AND RESTATED GE DIGITAL 

MASTER PRODUCTS AND SERVICES AGREEMENT

 

This
Amended and Restated GE Digital Master Products and Services Agreement (“this Agreement”) is entered into by
and between GE Digital LLC, having its place of business at 2623 Camino Ramon, San Ramon, CA 94583 (“GE Digital”)
and Baker Hughes, a GE company, LLC, a Delaware limited liability company (“Baker Hughes”), on this November 13, 2018.

 

RECITALS

 

WHEREAS,
pursuant to that certain Transaction Agreement and Plan of Merger, dated as of October 30, 2016, among General Electric Company,
a New York corporation (“GE”), Baker Hughes Incorporated, a Delaware corporation (“BHI”),
BHGE (as defined below) 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, BHGE, Merger Sub, BHI Newco,
Inc., a Delaware corporation, and Bear MergerSub 2, Inc., a Delaware corporation (as may be further amended, amended and restated,
supplemented or otherwise modified from time to time, the “Transaction Agreement”), GE and BHI agreed to combine
GE O&G (as defined in the Transaction Agreement) with BHI;

 

WHEREAS,
the transactions contemplated by the Transaction Agreement were consummated on July 3, 2017 (the “Effective Date”),
including entry into that certain GE Digital Master Products and Services Agreement, dated as of July 3, 2017, by and between
GE Digital and Baker Hughes (the “Original Agreement”), whereby GE Digital has provided or caused to be provided
to Baker Hughes Entities certain digital products and services related to Baker Hughes’ digital business;

 

WHEREAS,
GE and Baker Hughes desire to restructure their existing relationships to facilitate BHGE’s ability to operate as an
independent and standalone company, and to enter into certain other mutually-beneficial long-term arrangements (the
“Restructuring”), with certain modifications to their relationship to be effective as of November 13, 2018
(the “MPSA Trigger Date”);

 

WHEREAS,
GE, GE Digital and Baker Hughes have agreed that Baker Hughes will act as GE Digital’s exclusive channel to market, distribute
and resell the GE Digital Offerings in the agreed upon Baker Hughes Channel, subject to the terms and conditions set forth herein;
and in connection with the same, Baker Hughes will make certain commitments, as further described herein;

 

WHEREAS,
in connection with the Restructuring, GE Digital and Baker Hughes desire to enter into this Agreement, which amends and restates
the Original Agreement in its entirety; and

 

WHEREAS,
the Parties agree that the provision and use of digital products and services related to Baker Hughes’ digital business
shall be governed by the terms and conditions herein.

 

    5 

     

    

 

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

 

Article I

DEFINITIONS

 

Section 1.01                   
Certain Defined Terms.

 

(a)              
Unless otherwise defined herein, all capitalized terms used herein shall have the
same meaning as in the Transaction Agreement.

 

(b)              
The following capitalized terms used in this Agreement shall have the meanings set
forth below:

 

“AAA”
shall have the meaning set forth in Section 9.03(b).

 

“Acceptable
Use Policy” means the document currently available at https://www.predix.io/legal/acceptable-use-policy, which shall
apply to the Predix platform, as it may be reasonably updated along the same topics by GE from time to time and not preempted
by any Transaction Document.

 

“Add-On
Services” shall have the meaning set forth in Section 2.03(d)(ii) herein.

 

“Affiliate”
means any individual, company, organization or other entity that, directly or indirectly, is controlled by, controls or is under
common control with such Party by ownership, directly or indirectly, of more than fifty percent (50%) of the stock entitled to
vote in the election of directors or, if there is no such stock, more than fifty percent (50%) of the ownership interest in such
individual or entity. For the purposes of this Agreement, (i) references to GE’s “Affiliates” shall be deemed
to exclude the Baker Hughes Entities and (ii) references to the Baker Hughes Entities’ “Affiliates” shall be
deemed to exclude GE and its subsidiaries that are not within the Baker Hughes Entities.

 

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

 

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

 

“Baker
Hughes” shall have the meaning set forth in the Preamble.

 

“Baker
Hughes Application” means a Software application that is developed by or on behalf of Baker Hughes that works in conjunction
with one or more GE Digital Offerings.

 

“Baker
Hughes Channel” means (i) a company that is primarily engaged in the O&G Activities in the oil and gas industry;
(ii) entities defined by one or more of the SIC codes set forth in Schedule 2.01-1 or, to the extent a SIC code does not
apply in a particular jurisdiction, entities whose business fits the description of such SIC codes in Schedule 2.01-1; and (iii)
the customer accounts set forth in the Baker Hughes Named Customers List. For avoidance of doubt, the Baker Hughes Channel excludes
the customer accounts set forth in the GE Digital Installed Customer Base List.

 

    6 

     

    

 

“Baker
Hughes Content” means information, documentation, and Software provided by Baker Hughes and/or Baker Hughes Customers
for use in connection with the GE Digital Offerings.

 

“Baker
Hughes Customers” shall mean a third party to whom a Baker Hughes Entity sells or purports to sell a GE Digital Offering
in accordance with the terms herein.

 

“Baker
Hughes Data” shall have the meaning set forth in Section 8.05(b).

 

“Baker
Hughes Entities” shall mean, collectively, Baker Hughes and its Affiliates on the Effective Date.

 

“Baker
Hughes Infringement Claim” shall have the meaning set forth in ‎Section 8.05(a).

 

“Baker
Hughes Intellectual Property” means Intellectual Property and Technology owned or Controlled by a Baker Hughes Entity
relating to a particular GE Digital Offering.

 

“Baker
Hughes Named Customer List” shall have the meaning set forth in Section 2.01(d).

 

“Baker
Hughes Services Manager” shall have the meaning set forth in ‎Section 2.06(b).

 

“BHGE”
means Baker Hughes, a GE company (formerly known as Bear Newco, Inc.), a Delaware corporation and an Affiliate of Baker Hughes.

 

“Business
Day” means a day, other than Saturday, Sunday or other day on which commercial banks in New York, New York are authorized
or required by applicable Law to close.

 

“Channel
Agreement” means that certain Channel Agreement, dated as of the Effective Date (as it may be amended, amended and restated,
supplemented or otherwise modified from time to time), between GE and BHGE.

 

“Charges”
shall have the meaning set forth in ‎Section 7.02(a)(i).

 

“Claim”
means any claim, audit, examination, action, cause of action or suit (whether in contract or tort or otherwise), litigation (whether
at law or in equity, whether civil or criminal), assessment, arbitration, mediation, investigation, hearing, charge, complaint,
demand, notice or proceeding. Claim shall include Baker Hughes Infringement Claims and GE Infringement Claims.

 

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

 

    7 

     

    

 

“Confidential
Information” shall have the meaning set forth in ‎Section 11.02(a).

 

“Continuing
Services” shall have the meaning given in ‎Section 2.03(b)(i).

 

“Control”
or “Controlled” means the right to grant a license or sublicense to such Intellectual Property or Technology
as provided for herein without (i) violating the terms of any agreement or other arrangement with any third party, (ii) requiring
any consent, approvals or waivers from any third party, or any breach or default by the party being granted any such license or
sublicense being deemed a breach or default affecting the rights of the party granting such license or sublicense or (iii) requiring
the payment of material compensation to any third party.

 

“Core
Requirement” means any of the terms and conditions associated with the GE Digital T&Cs or GE Digital Offerings specifications
set forth at Schedule A.

 

“Data
Protection Plan” shall have the meaning set forth in ‎Section 7.01(a).

 

“Deliverable”
means any work product and/or other results of Professional Services in each case of the foregoing to be delivered by GE Digital
or its subsidiaries to Baker Hughes or to a Baker Hughes Customer, as specified in a Statement of Work.

 

“Discount
Threshold” shall have the meaning set forth in Section 7.02(a)(ii).

 

“Dispute”
shall have the meaning set forth in Section 9.03(a).

 

“Effective
Date” shall have the meaning set forth in the Recitals.

 

“Enabling
Tools” shall have the meaning set forth in Section 11.18(c).

 

“Escrow
Agent” shall have the meaning set forth in Section 11.18(a).

 

“Escrow
Agreement” shall have the meaning set forth in Section 11.18(a).

 

“Escrow
Software” shall have the meaning set forth in Section 11.18(a).

 

“Feedback”
shall have the meaning set forth in Section 5.01.

 

“Force
Majeure” means, with respect to a Party, an event beyond the control of such Party (or any Person acting on its behalf)
and which by the exercise of reasonable diligence and prudence the Party affected was unable to prevent, including acts of God,
storms, floods, riots, fires, sabotage, civil commotion or civil unrest, interference by civil or military authorities, acts of
war (declared or undeclared) or armed hostilities or other national or international calamity or one or more acts of terrorism
or failure of energy sources. For the avoidance of doubt, the following shall not be deemed Force Majeure events: general adverse
changes or fluctuations in the markets in which GE Digital operates; financial distress or insufficient financial capability of
GE Digital to perform the Request for New Services, Order or Statement of Work; storms, floods and failures of energy sources
the effects or extent of which would have been mitigated by reasonable diligence and prudence; or events involving a previous
or existing condition at or before the Request for New Services, Order or Statement of Work date.

 

    8 

     

    

 

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

 

“GE
Digital” shall have the meaning set forth in the Preamble.

 

“GE
Digital Development Software” means GE Digital IIOT development tools (DevOps Tools) that GE Digital makes generally
available to third parties, partners, resellers or other GE businesses for application development for the Predix platform, including
DevOps Tools development environments.

 

“GE
Digital Infringement Claim” shall have the meaning set forth in ‎Section 8.05(b).

 

“GE
Digital Installed Customer Base List” shall have the meaning set forth in Section 2.01(d).

 

“GE
Digital Offerings” means any and all GE Hardware, GE Software, GE Hosted Services and Professional Services, excluding
ServiceMax products and services (which may only be subject to this Agreement on a case-by-case basis, as mutually agreed in an
Order or Statement of Work).

 

“GE
Digital Services Manager” shall have the meaning set forth in ‎Section 2.06(a).

 

“GE
Digital T&Cs” shall have the meaning set forth in Section 4.03(e).

 

“GE
Entities” shall mean, collectively, GE and its Affiliates on the Effective Date immediately after giving effect to the
Closing.

 

“GE
Hardware” means hardware equipment that is provided by GE Digital to Baker Hughes, along with any associated Maintenance
and Support Services.

 

“GE
Hosted Services” means GE Digital’s hosted Software, platform, and monitoring services, as described in the Hosted
Services Documentation, along with any associated Maintenance and Support Services, excluding ServiceMax products and services
(which may only be subject to this Agreement on a case-by-case basis, as mutually agreed in an Order or Statement of Work). Current
examples of GE Hosted Services include Predix, Predix Essentials and cloud-hosted APM.

 

“GE
Software” means on-premise Software that is provided by GE Digital to Baker Hughes, as described in ‎Section 4.05,
along with any associated Maintenance and Support Services. Current examples of GE Software include, but are not limited to, Predix
Machine, Meridium, Predix Private Cloud, Smart Signal, Edge, Historian, IGS, SCADA and on-premise versions of APM software.

 

“Governance
Council” shall have the meaning set forth in Section 9.02(a).

 

    9 

     

    

 

“Governmental
Authority” means any federation, nation, state, sovereign or government, any federal, supranational, regional, state
or local political subdivision, any governmental or administrative body, instrumentality, department or agency or any court, administrative
hearing body, commission or other similar dispute resolving panel or body, and any other entity exercising executive, legislative,
judicial, regulatory or administrative functions of a government.

 

“Highly
Confidential Information” means Confidential Information of a Party: (i) (A) that is distributed only among a certain
limited set of individuals pursuant to such Party’s written data classification policy or guideline; (B) that is appropriately
classified with the Party’s top level data classification pursuant to the terms of such Party’s written data classification
policy or guideline; and (C) that such Party has a good faith belief will help generate material value for such Party or (ii)
where, if such Confidential Information is disclosed or used improperly, such disclosure would reasonably be expected to have
a material and adverse impact on such Party or any business unit thereof with respect to lost revenues, lost profits, loss of
trade secret value, reputational risk and/or any other material and adverse non-quantitative risks.

 

“Hosted
Services Documentation” means the published documentation for the GE Hosted Services, as described in Schedule 4.05(a).

 

“IIOT”
means the industrial internet of things.

 

“Indemnified
Party” shall have the meaning set forth in ‎Section 8.06.

 

“Indemnifying
Party” shall have the meaning set forth in ‎Section 8.06.

 

“Intellectual
Property” means all the following whether arising under the Laws of the United States or of any other jurisdiction:
(i) patents, patent applications (including patents issued thereon) and statutory invention registrations, including reissues,
divisions, continuations, continuations-in-part, extensions and reexaminations thereof, and all rights therein provided by international
treaties or conventions; (ii) copyrights in works of authorship of any type (including copyrights in Software), mask work rights
and design rights, whether or not registered, and registrations and applications for registration thereof, and all rights therein
provided by applicable international treaties or conventions, all moral and common law rights thereto, and all other intellectual
property rights associated therewith; (iii) trade secrets; (iv) trademarks; and (v) all other industrial and intellectual property
rights arising from, or in respect to, Technology.

 

“Intercompany
Services Agreement” means the Intercompany Services Agreement between Baker Hughes and General Electric Company dated
the Effective Date (as it may be amended, amended and restated, supplemented or otherwise modified from time to time).

 

“KPIs”
shall have the meaning set forth in Section 9.02(b).

 

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

 

    10 

     

    

 

“Leading
Party” means any of Baker Hughes or its Affiliates, on the one hand, or GE Digital or its Affiliates, on the other,
that will market to, accept tenders and orders from, and sell to third-party end-user customers or such other parties identified
on Schedule 2.01-2 and Schedule 2.01-3 and otherwise take responsibility for leading the customers’ accounts.

 

“Local
Agreements” shall have the meaning set forth in ‎Section 2.07.

 

“Long-Term
Ancillary Agreements” shall have the meaning ascribed to it in the Transaction Agreement.

 

“Maintenance
and Support Services” means the maintenance and support services provided by GE Digital in accordance with Schedule
4.08(e) herein.

 

“Monitored
Equipment” means the equipment of Baker Hughes and/or Baker Hughes Customers to be monitored with GE Hosted Services
hereunder.

 

“MPSA
Trigger Date” shall have the meaning set forth in the Recitals.

 

“Net
Revenue” shall have the meaning set forth in Schedule 7.02(a).

 

“New
Services” shall have the meaning given in ‎Section 2.03(b)(ii).

 

“Non-Standard
T&Cs” shall have the meaning set forth in Section 4.03(e).

 

“O&G
Activities” means the following oil and gas activities: (i) drilling, evaluation, completion and/or production; (ii)
liquefied natural gas; (iii) compression and boosting liquids in upstream, midstream and downstream; (iv) pipeline inspection
and pipeline integrity management; or (v) processing in refineries and petrochemical plants (including fertilizer plants).

 

“Open
Source Software” means software for which the source code is generally made publicly available, and that is licensed
under the terms of various published open source software license agreements or copyright notices accompanying such software.

 

“Order”
means a request for GE Digital Offerings that has made by a Baker Hughes Entity.

 

“Original
Agreement” shall have the meaning ascribed to it in the Recitals.

 

“Party”
means GE Digital and Baker Hughes individually, and “Parties” means GE Digital and Baker Hughes collectively,
and, in each case, their permitted successors and assigns.

 

“Person”
means an individual, corporation, partnership, joint venture, association, trust, unincorporated organization, limited liability
company or governmental or other entity.

 

    11 

     

    

 

“Post-MPSA
Trigger Date Pricing” means the revenue share and pricing arrangements set forth in Schedule 7.02(a).

 

“Predix
Market Place” means the market place for applications and services running on the Predix Platform, offered by GE Digital,
its Affiliates and third parties, and hosted by GE Digital at www.predix.io.

 

“Professional
Services” shall mean delivery, installation, data science, consulting, or implementation services, excluding hosted
or managed software or platform services.

 

“Project”
means any specific research and/or development activities related to Software, hardware or other technology identified as a “Project”
in the applicable Statement of Work.

 

“Project
Leader” shall have the meaning set forth in ‎Section 3.01(a)(v).

 

“Relationship
Manager” shall have the meaning set forth in Section 2.06(a).

 

“Representative”
of a Person means any director, officer, employee, agent, consultant, accountant, auditor, attorney or other representative of
such person.

 

“Request
for New Services” shall have the meaning set forth in ‎Section 2.05(a).

 

“Restructuring”
shall have the meaning set forth in the Recitals.

 

“Roadmap”
shall have the meaning set forth in Section 4.08(d).

 

“Schedules”
means the schedules attached to this Agreement, including each of Schedule 2.01-1, Schedule 2.01-2, Schedule
2.01-3, Schedule 2.03(a), Schedule 2.04(b), Schedule 2.05(a), Schedule 2.06(a), Schedule 2.06(b),
Schedule 4.05(a), Schedule 4.08(e), Schedule 7.02(a), Schedule 7.02(b), and Schedule A.

 

“Services”
shall have the meaning set forth in Section 2.03(b).

 

“Services
Foreground IP” means all Intellectual Property (other than trademarks and other source indicators) and Technology created
in the course of performance or provision of Professional Services, including that which is reflected in all research records,
laboratory notebooks, technical reports, and experimental results.

 

“SLA”
shall have the meaning set forth in Section 4.08(e).

 

“Software”
means computer software, programs and databases in any form, including (as applicable in context) source code, object code, operating
systems, specifications, libraries, data, databases, database management code, utilities, graphical user interfaces, software
engines, software platforms, data formats, versions thereof, and related documentation, developer notes, comments and annotations.

 

    12 

     

    

 

“Statement
of Work” shall have the meaning set forth in ‎Section 3.01(a).

 

“Stockholders
Agreement” means that certain Stockholders Agreement, dated as of the Effective Date (as it may be amended, amended
and restated, supplemented or otherwise modified from time to time), between GE and BHGE.

 

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

 

“Technology”
means, collectively, designs, formulae, algorithms, procedures, methods, products, services, techniques, ideas, know-how, results
of research and development, Software, descriptions, flow-charts, documentation (including user manuals and other training documentation),
tools, data, inventions, apparatus, creations, improvements, works of authorship and other similar materials, and all recordings,
graphs, drawings, reports, analyses and other writings, and any other embodiments of the above, in any form whether or not specifically
listed herein.

 

“Term”
shall have the meaning set forth in ‎Section 10.01(a).

 

“Termination
Assistance Services” shall have the meaning set forth in Section 10.04.

 

“Termination
Charges” means the charges that the Parties agree shall apply in the event of a termination of an Order or Statement
of Work, or otherwise any and all out-of-pocket fees or expenses (which may include breakage fees, early termination fees or charges,
or minimum volume charges) owed to any unaffiliated third-party provider as a direct result of an early termination.

 

“Third-Party
Services” has the meaning defined in ‎Section 4.03(d).

 

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

 

“Transaction
Document” means the Transaction Agreement, any Ancillary Agreement or any Long-Term Ancillary Agreement.

 

Article II

APPOINTMENT; SERVICES AND SERVICES MANAGERS

 

Section 2.01                   
Appointed Reseller; Exclusivity. Provided Baker Hughes procures all of its GE Digital Offerings and comparable functional
and technical software, hardware and professional services software solutions and services in the Baker Hughes Channel exclusively
from GE Digital, then:

 

(a)              
 Baker Hughes will be the Leading Party and the exclusive provider for all GE Digital
Offerings for a company that, together with its Affiliates and business units, is primarily engaged in the Baker Hughes Channel
(a “Third Party Customer”). With regards to any Affiliate or business unit within such Third Party Customer
that purchases non-Baker Hughes Channel products and services, Baker Hughes will retain account control for such Third Party Customer
but will refer to GE Digital any prospective sales opportunities for the purchase of GE Digital Offerings for such non-Baker Hughes
Channel products and services.

 

    13 

     

    

 

(b)              
With respect to a customer that is not a Third Party Customer that has an Affiliate
or business unit that purchases products and services in the Baker Hughes Channel, GE Digital will retain account control for
such non-Third Party Customer but will refer to Baker Hughes those prospective sales opportunities with regards to the products
and services in the Baker Hughes Channel.

 

(c)              
If Baker Hughes believes that GE Digital is unable to provide to Baker Hughes a GE
Digital Offering in accordance with the terms set forth herein, Baker Hughes will notify GE Digital in writing of the comparable
product offering it wishes to purchase from an unaffiliated third party (“Proposed Exception Purchase”). If
Baker Hughes and GE Digital are unable to negotiate an alternate solution, GE Digital may elect in its discretion to approve Baker
Hughes’ Proposed Exception Purchase.

 

(d)              
The applicable obligations of GE Digital set forth herein in respect of the GE Digital
Offerings shall not apply to any reseller or distributor of GE Digital or its Affiliates, including without limitation any ISV,
System Integrator and Technical Partners (each, as defined in the Channel Agreement) appointed by GE Digital before or after the
effective date of this agreement.

 

Section 2.02                   
[Intentionally Left Blank]

 

Section 2.03                   
GE Digital Offerings to be Provided.

 

(a)              
Subject to the terms and conditions of this Agreement, including Sections 2.05(b)
and 4.01, GE Digital shall provide (or cause to be provided) to the Baker Hughes Entities during the Term the GE Digital
Offerings that GE Digital provides to its partners, resellers and other GE businesses, but at a minimum, GE Digital will, during
the Term, and subject to its End of Life Policy, offer the products and services set forth in Schedule 2.03(a) herein,
all in accordance with the SLA set forth in Schedule 4.08(e). Notwithstanding the foregoing, a limited release of a limited
version of a product by GE Digital will not be deemed a GE Digital Offering that is provided to partners, resellers and other
GE businesses for the purposes of this Section 2.03.

 

(b)              
Subject to the terms and conditions of this Agreement, GE Digital shall provide (or
cause to be provided) to the Baker Hughes Entities during the Term the following services (each, a “Service”
and, collectively, the “Services”):

 

(i)                       
ongoing services (including Maintenance and Support Services), Technology and GE Digital
Offerings that have been agreed upon and described in any written statements of work, purchase orders, agreements with Baker Hughes
Customers, or similar documentation, and entered into prior to, and in effect as of, the MPSA Trigger Date (the “Continuing
Services”);

 

(ii)                       
GE Digital Offerings that are requested by the Baker Hughes Entities after the MPSA
Trigger Date pursuant to ‎Section 2.05 (the “New Services”).

 

    14 

     

    

 

(c)              
For the avoidance of doubt: (i) the provision of GE Digital Offerings shall not require
GE Digital to disclose any Highly Confidential Information, and the Parties will work in good faith to reach an arrangement that
allows the provision of GE Digital Offerings without such disclosure; and (ii) none of the GE Digital Offerings shall include
any services inconsistent with applicable Laws or GE Digital’s legal obligations (including, but not limited to, applicable
data protection Laws, export control Laws, or GE compliance policies).

 

(d)              
The following terms and conditions shall apply to each category of Services:

 

(i)                       
Subject to Section 2.03(d)(ii) below, Continuing Services shall be provided
by GE Digital in accordance with, and governed in all respects by, the terms and conditions set forth in the Original Agreement
immediately prior to the MPSA Trigger Date;

 

(ii)                       
Any purchase order, renewal (whether automatic or otherwise), agreement or similar
documentation entered into after the MPSA Trigger Date with Baker Hughes or an existing (as of the MPSA Trigger Date) Baker Hughes
Customer, even in respect of Continuing Services, that adds one or more SKUs not previously provided to Baker Hughes or such Baker
Hughes Customer (the “Add-On Services”) will be subject to the terms and conditions of this Agreement as of
the date of such purchase order, renewal (whether automatic or otherwise), agreement or similar documentation. For the avoidance
of doubt, the terms and conditions agreed for Rosneft phase 1 delivery and BP prior to the MPSA Trigger Date shall be governed
in all respects by the terms and conditions of the Original Agreement.

 

(iii)                       
Subject to Baker Hughes providing L1 and L2 Maintenance and Support Services per Schedule
7.02(a) herein, GE Digital shall provide L3 Maintenance and Support Services to Baker Hughes and all Baker Hughes Customers
existing as of the MPSA Trigger Date upon the next renewal (whether automatic or otherwise) of such customer contract. GE Digital
shall not require that any Baker Hughes Customer upgrade or modify the terms of any Maintenance and Support Services included
in the Continuing Services, all of which shall be provided in accordance with the terms of this Agreement.

 

(iv)                       
New Services shall be provided by GE Digital in accordance with, and governed in all
respects by, the terms and conditions as set forth in this Agreement.

 

(e)              
The pricing for each of the Services is as follows:

 

(i)                       
The pricing for Continuing Services will be determined by the statements of work,
purchase orders, agreements with Baker Hughes Customers, or similar documentation that is in effect prior to the MPSA Trigger
Date, unless otherwise agreed by the Parties in writing, in which case such lower pricing shall apply;

 

(ii)                       
The pricing for Add-On Services will be determined in accordance with Section 7.02.

 

    15 

     

    

 

(iii)                       
The pricing for New Services will be determined in accordance with Section 7.02.

 

Section 2.04                   
Duration of Services.

 

(a)              
Subject to the terms of this Agreement, GE Digital shall provide or cause to be provided
to the respective Baker Hughes Entity each Continuing Service, Add-On Service or New Service agreed to by the Parties until the
date on which such Continuing Service, Add-On Service or New Service expires or is terminated in accordance with the applicable
Order, Statement of Work or similar documentation, or is terminated pursuant to ‎Article X. For
the avoidance of doubt, GE Digital will continue to provide or cause to be provided the Continuing Services, Add-On Services or
New Services required under any Order, Statement of Work or similar documentation entered into prior to the date of termination
of this Agreement, for the duration agreed in such Order, Statement of Work or similar documentation, even upon expiration of
this Agreement.

 

(b)              
GE Digital will continue to update, upgrade and maintain the GE Digital Offerings
in the ordinary course of business, and shall not replace, sunset or discontinue any of the same except as set forth in the GE
Digital End of Life Policy, a preliminary copy of which has been provided to Baker Hughes as of the date hereof and which shall
be finalized by GE Digital within thirty (30) days of the date hereof in a form substantially similar to that set forth at Schedule
2.04(b) (the “End of Life Policy”). For avoidance of doubt, GE Digital shall not provide notice of replacement,
sunseting or discontinuation less than that provided for in the End of Life Policy. GE Digital shall work with Baker Hughes and
any applicable Baker Hughes Customer in good faith to support Baker Hughes or such Baker Hughes Customer in order to mitigate
the effect of such replacement, sunset, or discontinuation.

 

Section 2.05                   
Request for New Services.

 

(a)              
Any Baker Hughes Entity may submit, from time to time, a written request having the
form of Schedule 2.05(a) and signed by a duly authorized representative of Baker Hughes to the GE Digital Services Manager
for the initiation of a New Service to be provided by GE Digital (each, a “Request for New Services”). Each
Request for New Services shall be deemed to incorporate by reference the terms and conditions of this Agreement and be numbered
and dated. Requests for New Services shall contain the following information to facilitate the proper accounting of such Service:

 

(i)                       
a detailed description of the services to be performed;

 

(ii)                       
identification of the desired start date and anticipated end date for the requested
service;

 

(iii)                       
with respect to each service, the anticipated resources necessary for the provision
of such service; and

 

(iv)                       
Baker Hughes’ location at which such service will be rendered, if applicable.

 

    16 

     

    

 

(b)              
GE Digital and the requesting Baker Hughes Entity shall negotiate in good faith to
agree upon the terms for the New Services requested in the Request for New Services and, if such terms are agreed upon, GE Digital
and the requesting Baker Hughes Entity shall jointly enter into a Statement of Work in accordance with ‎Article III
or an Order in accordance with Article IV, provided that GE Digital shall not be obligated to accept any Request
for New Services except to the extent that an Order is for on-premise APM (Classic Meridium), Classic Smart Signal, or cloud-based
APM or Predix Private Cloud that is being made commercially available by GE Digital to its partners, resellers or other GE businesses
at the time such Order is made, and no such negotiation will be required for the same; provided, further, that (i)
such Order is based on GE Digital’s standard product or service descriptions, specifications and terms and conditions, and
(ii) for purposes of this Section 2.05(b), a limited release of a limited version of a product will not be deemed an offering
that is “commercially available.” At a minimum, during the Term and subject to its End of Life Policy, GE Digital
will offer the products and services set forth in Schedule 2.03(a) herein.

 

Section 2.06                   
Service Managers.

 

(a)              
Each Party shall appoint a relationship manager who shall act as the primary liaison
between Baker Hughes and GE Digital for all matters related to this Agreement and shall have overall responsibility for ensuring
each Party’s performance of its responsibilities and obligations as set forth in this Agreement (each, a “Relationship
Manager”). The roles and responsibilities of the Relationship Managers are further set forth in Section 9.01
herein. GE Digital hereby appoints and designates the service manager, or managers as the case may be, as indicated in Schedule
2.06(a) (the “GE Digital Services Manager”). Baker Hughes hereby appoints and designates the service manager,
or managers as the case may be, as indicated in Schedule 2.06(b) (the “Baker Hughes Services Manager”).

 

(b)              
Each Party agrees to notify the other Party of the appointment of a different GE Digital
Services Manager or Baker Hughes Services Manager, as applicable, if necessary, in accordance with the governance procedure set
forth in Section 9.01.

 

Section 2.07                   
Local Implementing Agreements. The Parties recognize and agree that there may be a need to document the GE Digital
Offerings provided hereunder in various jurisdictions outside of the United States from time to time. The Parties shall enter
into, or, as appropriate, cause their respective Affiliates to enter into, local implementing agreements (“Local Agreements”)
for GE Digital Offerings to be provided hereunder in such jurisdictions as a Party may reasonably request from time to time; provided,
however, that the execution or performance of any such Local Agreement shall in no way alter or modify any term or condition
hereof nor the effect thereof. Without limiting the generality of the foregoing, should there be any conflict between any term
or condition of a Local Agreement and this Agreement, the terms and conditions of this Agreement shall prevail. The Parties agree
to cooperate in implementing any such Local Agreement in a manner that does not subject GE Digital or any of its Affiliates to
income Taxes for the provision of GE Digital Offerings in a jurisdiction other than those jurisdictions under the laws of which
GE Digital or such Affiliate is organized or is, before the implementation of such Local Agreement, a Tax resident.

 

    17 

     

    

 

Section 2.08                   
Marketing and Publicity. During the Term, Baker Hughes shall not (a) authorize or otherwise participate in any publicity
or public statement that disparages or otherwise has an adverse impact on the GE Digital Offerings, or (b) authorize or otherwise
participate in any publicity or public statement promoting the use or adoption of a third party product or service competitive
with the GE Digital Offerings or any business relationship relating thereto, provided that, with respect to the foregoing
subsection (b), Baker Hughes may participate in promotional activities and events involving Baker Hughes Customers that use an
offering that is competitive with a GE Digital Offering.

 

Article III

STATEMENTS OF WORK

 

Section 3.01                   
Entering into Statements of Work.

 

(a)              
GE Digital and any Baker Hughes Entity may mutually agree (which agreement will not
be unreasonably withheld or delayed) from time to time on Professional Services to be provided by GE Digital to such Baker Hughes
Entity or Baker Hughes Customer in accordance with the terms and conditions of this Agreement and such other terms as agreed upon
by the Parties and set forth in a statement of work to be entered into by GE Digital and the applicable Baker Hughes Entity(ies)
(each, a “Statement of Work”). All Statements of Work must be in writing and signed by a duly authorized representative
of each of GE Digital and the applicable Baker Hughes Entity prior to the commencement of any Professional Services under such
Statement of Work. Each Statement of Work shall be: (A) deemed a separate agreement between GE Digital and the respective Baker
Hughes Entity, and shall be an independent obligation from any other Statement of Work, (B) deemed to incorporate by reference
the terms and conditions of this Agreement, and (C) numbered and dated. Statements of Work may be in the form set forth in Schedule
3.01(a), and may contain the following elements:

 

(i)                       
a statement of the scope and objective of the Project;

 

(ii)                       
a detailed description of the Professional Services to be performed;

 

(iii)                       
identification of the Deliverables and schedule for delivery;

 

(iv)                       
projected total and annual funding levels for each identified Project, including the
funding level for each Baker Hughes Entity, GE Digital and/or any Governmental Authority and any specified funding limitations;

 

(v)                       
for each identified Project, the name of the Person designated by each Party (each,
a “Project Leader”) to serve on such Party’s behalf as the primary contact between the Parties for such
Project;

 

(vi)                       
the term of such Statement of Work, including any renewal options;

 

    18 

     

    

 

(vii)                       
the personnel, services, material or other resources that the applicable Baker Hughes
Entity shall provide to enable or support the services and any other obligations of such Baker Hughes Entity;

 

(viii)                       
identification of applicable export control and government security classifications
for the Project(s);

 

(ix)                       
a statement identifying any Persons that are co-sponsoring the applicable services
under such Statement of Work;

 

(x)                       
provisions for post-Project disposal, sale, or use of any equipment acquired for any
Project(s);

 

(xi)                       
provisions regarding ownership of, and (sub)license rights to, Services Foreground
IP, if different than those set forth in Section 5.05 herein;

 

(xii)                       
any provisions regarding restrictions on the use of any Intellectual Property relevant
to such Statement of Work, which shall limit the licenses granted in ‎Article V; and

 

(xiii)                       
such other special provisions as are unique to a specific Statement of Work.

 

Section 3.02                   
Project Change. If either GE Digital or the applicable Baker Hughes Entity proposes changes in a Project, GE Digital
and the applicable Baker Hughes Entity for the applicable Statement of Work shall discuss such changes, but no changes shall be
binding unless mutually agreed upon in writing. Other than with respect to the foregoing right of election, if GE Digital and
the applicable Baker Hughes Entity fails to agree on a change, the Project scope, funding, timing, and other items shall remain,
and the Professional Services shall proceed, as specified in the applicable Statement of Work.

 

Section 3.03                   
Replacement of Project Leaders. Except as otherwise mutually agreed to in writing in the applicable Statement of
Work, each Party to a Statement of Work may, in its sole discretion, appoint an adequately and similarly qualified new or alternate
Project Leader for each Project to manage its obligations hereunder; provided that any new Project Leader appointed by GE Digital
requires Baker Hughes’ prior written consent, which shall not be unreasonably withheld or delayed. Subject to the foregoing,
each Party to a Statement of Work agrees to provide the other Parties with written notification if and when such Party appoints
a new or alternate Project Leader.

 

Section 3.04                   
Subcontracting. GE Digital may hire or engage one or more subcontractors to perform any or all of its obligations
under this Agreement; provided that (a) any subcontractor engaged to perform Professional Services after the MPSA Trigger
Date requires Baker Hughes’ prior written approval, which shall not be unreasonably withheld or delayed; (b) GE Digital
shall use the same degree of care in selecting any such subcontractor as it would if such subcontractor was being retained to
provide similar services to GE Digital, and no less than a reasonable degree of care and diligence; and (c) GE Digital shall in
all cases remain primarily responsible for and liable for the performance of all of its obligations hereunder and the actions
or omissions of its subcontractors.

 

    19 

     

    

 

Article IV

GE DIGITAL OFFERINGS

 

Section 4.01                   
GE Digital Offerings. Baker Hughes may submit Orders with respect to GE Hardware, GE Software or GE Hosted Services,
subject to the applicable terms and conditions of this Agreement and the applicable Order. If accepted by GE Digital in its sole
discretion, such Orders shall be binding upon the Parties and incorporate the terms and conditions of this Agreement. GE Digital
will not refuse acceptance on any Order to the that extent such Order is for on-premise APM (Classic Meridium), Classic Smart
Signal, or cloud-based APM or Predix Private Cloud that is being made commercially available by GE Digital to its partners, resellers
or other GE businesses at the time the Order is made, provided that (i) such Order is based on GE Digital’s standard product
or service descriptions, specifications and terms and conditions and (ii) for purposes of this Section 4.01, a limited
release of a limited version of a product will not be deemed an offering that is “commercially available.” For the
avoidance of doubt, Orders may be based on requests for such GE Digital Offerings that Baker Hughes receives from Baker Hughes
Customers. If such an Order is accepted by GE Digital, GE Digital shall provide the requested GE Hardware, GE Software or GE Hosted
Services to the relevant Baker Hughes Entity(ies) or to pass on to the requesting Baker Hughes Customer. At a minimum, during
the Term and subject to its End of Life Policy, GE Digital will offer the products and services set forth in Schedule 2.03(a)
herein.

 

Section 4.02                   
[Intentionally Left Blank]

 

Section 4.03                   
Baker Hughes’ Responsibilities.

 

(a)              
As between the Parties, except as set forth herein, Baker Hughes is solely responsible
for the development, content, operation, maintenance, and use of Baker Hughes Content and Monitored Equipment. As between the
Parties, Baker Hughes is responsible for securing all necessary rights and permissions to provide Baker Hughes Content to GE Digital
and to use Baker Hughes Content with the GE Hosted Services or other GE Digital Offerings. For example, as between the parties,
Baker Hughes is solely responsible for:

 

(i)                       
the technical operation of Baker Hughes Content, including ensuring that calls Baker
Hughes makes to or from any Baker Hughes Application or service are compatible with the GE Hosted Services;

 

(ii)                       
compliance of Baker Hughes Content with the Acceptable Use Policy, Data Protection
Plan, and applicable Hosted Services Documentation provided to Baker Hughes in writing;

 

(iii)                       
compliance by Baker Hughes with all applicable Laws, executive orders and court orders
in using the GE Hosted Services;

 

    20 

     

    

 

(iv)                       
any claims relating to Baker Hughes Content, except for (A) claims arising from any
unauthorized, accidental, or unlawful loss, access, or disclosure of Baker Hughes Content from the GE Digital Offerings that is
unrelated to any act or omission by Baker Hughes or (B) Baker Hughes Infringement Claims (as defined in ‎Section 8.05(a));

 

(v)                       
the accuracy and completeness of Baker Hughes Content; and

 

(vi)                       
proper handling and processing of notices sent to Baker Hughes (or any of Baker Hughes’
Affiliates) by any person claiming that Baker Hughes Content violates such person’s rights, including notices pursuant to
the U.S. Digital Millennium Copyright Act or similar laws of other countries.

 

(b)              
 Baker Hughes’ credentials (which may include username, passwords, tokens, certificates,
keys, and pins) issued by GE Digital or selected by Baker Hughes for accessing the GE Hosted Services, to the extent applicable,
are for Baker Hughes’ and Baker Hughes Customers use only and Baker Hughes may not, and shall require that Baker Hughes
Customers shall not, share, sell, transfer, or sublicense them to any other entity or person, except that Baker Hughes may disclose
Baker Hughes’ credentials to Baker Hughes’ agents and subcontractors performing work on Baker Hughes’ behalf.
Other than as set forth herein to the contrary, Baker Hughes is responsible for any use of Baker Hughes’ credentials and
for notifying GE Digital promptly of any breach of security related to Baker Hughes’ credentials of which it becomes aware.
Each Party is responsible for complying with all security requirements communicated to the other Party in writing and for its
respective obligations for securing such Party’s systems and networks as described in the Data Protection Plan. Baker Hughes
is responsible for personnel or third parties to whom Baker Hughes grants permission to access or use its account(s). Neither
Party shall (i) tamper with or take any action to circumvent any security feature or attempt to exceed authorized access provided
by the other Party on its systems or networks; (ii) interfere with or disrupt the integrity or performance (other than performance
degradation by normal use) of the other Party’s systems or networks or the data contained therein; or (iii) knowingly or
recklessly send or store material containing software viruses, worms, Trojan horses or other harmful computer code, files, scripts,
agents or programs. If a Party becomes aware of any violation of this provision, such Party shall immediately address such violations
and concurrently notify the other Party, and the Parties shall use reasonable efforts in good faith to cooperate in investigating
any such apparent violation of this provision. GE Digital reserves the right to temporarily suspend any access or permissions
if it deems such action necessary to prevent malicious attack or imminent damage to its network or other customers, provided GE
Digital (i) shall promptly notify Baker Hughes, (ii) take all reasonable actions to mitigate the effects of such attack or damage
and (iii) reasonably cooperate with Baker Hughes to restore such access or permissions after such a condition has been addressed.

 

(c)              
Except as expressly provided in a Statement of Work or Order or in the SLA (as defined
in Section 4.08(e)), Baker Hughes is solely responsible for providing Internet connectivity for Baker Hughes’ facilities
as necessary to access and use the GE Hosted Services (including all ISP charges). Subject to GE Digital’s compliance with
the SLA, GE Digital does not and cannot control the flow of data to or from GE Digital’s network and other portions of the
Internet; such flow depends in large part on the performance of Internet services provided or controlled by third parties. At
times, actions or inactions of such third parties can impair or disrupt Baker Hughes’ connections to the Internet (or portions
thereof). Although GE Digital shall use commercially reasonable efforts to take all actions it deems appropriate to remedy and
avoid such events, GE Digital cannot guarantee that such events will not occur.

 

    21 

     

    

 

(d)              
If specified on GE Digital’s Web sites for the GE Hosted Services, third parties
may offer independent services, including hosted application services (“Third-Party Services”), directly to
Baker Hughes or Baker Hughes Customers under a separate agreement, and Baker Hughes’ written acceptance of such offers constitutes
a separate agreement solely between Baker Hughes (or the Baker Hughes Customer) and the third-party provider thereof. If Baker
Hughes or a Baker Hughes Customer subscribes to Third-Party Services, Baker Hughes consents to GE Digital sharing with the third-party
provider, subject to confidentiality terms contained in any agreements with such third party provider: (i) Baker Hughes contact
and account information, (ii) Baker Hughes Content in connection with Baker Hughes’ use of the Third-Party Services, and
(iii) additional information, if any, disclosed in writing to Baker Hughes in connection with the Third-Party Services.

 

(e)              
The terms and conditions in this Agreement and the Order(s) applicable to the GE Hosted
Services apply to Baker Hughes when using the GE Hosted Services for its internal use and to Baker Hughes Customers when using
Baker Hughes Applications hosted or provided using the GE Hosted Services. When Baker Hughes uses the GE Hosted Services to host
and provide GE Digital Offerings to a Baker Hughes Customer, Baker Hughes shall cause such Baker Hughes Customer to agree to terms
and conditions in accordance with the following: All offers and quotations made by Baker Hughes to potential customers will be
issued in Baker Hughes’ name only. When proposing GE Digital Offerings to Baker Hughes Customers, Baker Hughes shall provide
the Baker Hughes Customer with GE Digital’s standard end customer terms and conditions for the applicable GE Digital Offerings,
which shall be attached to the applicable accepted Order or Statement of Work, or otherwise substantially similar terms and conditions
(“GE Digital T&Cs”), except where the Parties mutually agree to provide different or additional terms and
conditions (“Non-Standard T&Cs”) to a Baker Hughes Customer.

 

(f)               
Notwithstanding the foregoing, Baker Hughes may offer Non-Standard T&Cs to Baker
Hughes Customers with respect to the GE Digital Offerings, provided that: (i) such Non-Standard T&Cs do not affect a Core
Requirement of the GE Digital T&Cs or product specifications, except with GE Digital’s prior written agreement, and
(ii) Baker Hughes assumes the sole risk and liability for such Non-Standard T&Cs. If Baker Hughes desires that Non-Standard
T&Cs be reflected back-to-back in the accepted Order or Statement of Work entered into between Baker Hughes and GE Digital,
then Baker Hughes shall notify GE Digital during the negotiation with the potential Baker Hughes Customer and request that the
back-to-back Non-Standard T&Cs be attached to or incorporated in the applicable accepted Order or Statement of Work. GE Digital
agrees to cooperate and work in good faith with Baker Hughes to review and timely respond to Baker Hughes’ requests for
Non-Standard T&Cs.

 

(g)              
The Parties will agree on a deal-by-deal basis the extent to which Non-Standard T&Cs
will be reflected back-to-back in the Order or Statement of Work entered into between Baker Hughes and GE Digital and the back-to-back
Non-Standard T&Cs shall be attached to or incorporated into the applicable Order or Statement of Work. In no event shall GE
Digital be responsible for any obligation or liability that is not documented in an accepted Order or Statement of Work that has
been signed by GE Digital.

 

    22 

     

    

 

Section 4.04                   
[Intentionally Left Blank]

 

Section 4.05                   
Software. Unless otherwise specified in a Statement of Work or Order, GE Software shall be made available by GE
Digital for electronic download by Baker Hughes or as otherwise agreed by the Parties. GE Digital shall be deemed to have delivered
GE Software when GE Digital makes the GE Software available for download by Baker Hughes and notifies Baker Hughes of such availability.
If a Statement of Work or Order specifies that Software is to be delivered to Baker Hughes on physical media, then delivery of
physical media shall be made FCA GE Digital’s facility (Incoterms 2010). No title to the GE Software is transferred.

 

Section 4.06                   
Customer Agreements for Professional Services. Baker Hughes may engage GE Digital to perform Professional Services
for Baker Hughes Customers in accordance with agreed upon Statements of Work. Baker Hughes’ provision of Professional Services
to Baker Hughes Customers may be provided under terms and conditions that Baker Hughes determines with Baker Hughes Customers
in Baker Hughes’ sole discretion; provided that Baker Hughes retains liability for any promises made to its customers in
such agreements.

 

Section 4.07                   
[Intentionally Left Blank]

 

Section 4.08                   
[Intentionally Left Blank]

 

(a)              
[Intentionally Left Blank]

 

(b)              
[Intentionally Left Blank]

 

(c)              
Opportunities Outside the Baker Hughes Channel. If Baker Hughes desires to
pursue a sales opportunity outside the Baker Hughes Channel (which is not permitted under the terms of this Agreement), Baker
Hughes may notify GE Digital in writing, and GE Digital may agree, in its sole discretion, to permit Baker Hughes to pursue such
opportunity as the lead, provided that GE Digital or its Affiliates or partners are not already pursuing such opportunity and
provided further that Baker Hughes shall only have the right to do so to the extent consistent with applicable Law. GE Digital
will use commercially reasonable efforts to respond to any such notification from Baker Hughes within five (5) working days of
the same being made.

 

(d)              
Roadmap.  Upon or promptly after the MPSA Trigger Date, but in any event
no later than thirty (30) days after such date, GE Digital and Baker Hughes shall jointly establish a one-year product roadmap
and corresponding budget (the “Roadmap”), which shall be updated quarterly for new releases. GE Digital and
Baker Hughes will determine the Roadmap taking into account overall volume commitments by product and priorities of GE Digital,
Baker Hughes and GE Entities’ business units, as well as estimated timeline projections of commercial viability and availability
for future products and services. Quarterly reviews of the Roadmap shall be conducted via a formal governance process, as further
described in Section 9.01 herein, to ensure that the Parties continue to track to their highest priorities. Baker Hughes
will at all times be provided representation on the Governance Council (as defined in Section 9.01) that is part of such
formal governance process. In addition to the roles and responsibilities set forth in Section 9.01 herein, the Governance
Council shall (i) ensure open and frequent exchange of information between the Parties regarding the activities under the Roadmap;
and (ii) discuss any material technical issues that arise under the Roadmap. Baker Hughes shall provide visibility on its order
pipeline to track the effect of such changes, including volume, timing and any information reasonably requested by GE Digital.
If Baker Hughes incurs liquidated damages as a direct result of such Roadmap changes that Baker Hughes did not approve, GE Digital
shall bear the cost of such liquidated damages, provided that (i) the contract including such liquidated damages was approved
in writing by GE Digital and in existence prior to the MPSA Trigger Date, or (ii) GE Digital provided its written approval of
such liquidated damages prior to the execution of any contract entered into after the MPSA Trigger Date. GE Digital shall continue
to deliver on Roadmap commitments necessary to fulfill its obligations to Baker Hughes in existence as of the MPSA Trigger Date
in order to support Orders entered into for Rosneft and BP.

 

    23 

     

    

 

(e)              
SLA. GE Digital agrees to comply with the Service Level Agreement set forth
in Schedule 4.08(e) hereto (the “SLA”).

 

Section 4.09                   
Access. Baker Hughes shall, and shall cause its Affiliates and Baker Hughes Customers to, allow GE Digital and its
Representatives reasonable access to the facilities of Baker Hughes necessary for GE Digital to fulfill its obligations under
this Agreement. GE Digital shall ensure that each of its Representatives are subject to confidentiality obligations at least as
stringent as those in this Agreement prior to such Representative having access to any Baker Hughes facility. GE Digital and its
Representative shall fully comply with all policies and procedures of Baker Hughes applying to such facilities, and GE Digital
shall be responsible for remedying any violations of such policies and procedures by GE Digital or its Representatives.

 

Article V

INTELLECTUAL PROPERTY

 

Section 5.01                   
License to Baker Hughes Intellectual Property and Content. Except as otherwise specified in this Agreement, a Statement
of Work or Order, Baker Hughes shall retain all rights in the Baker Hughes Intellectual Property and Baker Hughes Content. Subject
to GE Digital’s payment of any applicable fees and compliance with this Agreement, and the execution of applicable Orders
and Statements of Work as set forth in Sections 3.01 and 4.01, Baker Hughes hereby grants, and shall cause its Affiliates
to grant, a royalty-free, fully paid-up, non-exclusive, limited right and license, with no right to sublicense (except pursuant
to ‎Section 3.04), for GE Digital to access and use the Baker Hughes Intellectual Property owned by Baker
Hughes, any Services Foreground IP owned by Baker Hughes and Baker Hughes Content owned by Baker Hughes to: (i) provide the GE
Digital Offerings to Baker Hughes; (ii) perform any other obligation of GE Digital under this Agreement, and any Statements of
Work or Orders; and (iii) solely with respect to patches, bug-fixes, suggestions, feedback, or similar items (“Feedback”)
relating to the GE Digital Offerings provided by Baker Hughes to GE Digital, to maintain, develop, and improve the GE Digital
Offerings, including selling or offering for sale such GE Digital Offerings incorporating such Feedback.

 

    24 

     

    

 

Section 5.02                   
License for Baker Hughes Use. Subject to Baker Hughes’ payment of all applicable Charges and compliance with
this Agreement and the execution of applicable Orders and Statements of Work as set forth in Sections 3.01 and 4.01,
GE Digital hereby grants to Baker Hughes a limited, non-transferable (other than an assignment allowed in Section 11.11
herein), non-exclusive right and license, under all Intellectual Property rights owned or controlled by GE Digital, for the Baker
Hughes Entities to: (a) access and use any: (i) GE Digital Offerings provided by GE Digital to Baker Hughes pursuant to an agreed
upon Order or Statement of Work; (ii) Deliverables provided by GE Digital to Baker Hughes pursuant to a Statement of Work; and
(iii) any Feedback provided by GE Digital to Baker Hughes to maintain, develop, and improve Baker Hughes’ products and services,
including selling or offering for sale such products and services incorporating such Feedback; and (b) with respect to Baker Hughes
Customers: (i) resell the GE Digital Offerings to Baker Hughes Customers, and (ii) provide services to the Baker Hughes Customers
using the Deliverables, in each case, solely within the Baker Hughes Channel and subject to the Core Requirements set forth in
Schedule A herein. With respect to GE Digital Offerings provided by GE Digital to Baker Hughes hereunder, Baker Hughes
will comply with any license limitations (such as named or concurrent user limits, limits on numbers of copies or processors,
or restrictions to designated computers or facilities) described on the applicable software/product documentation or Statement
of Work or Order. GE Digital represents and warrants that, as between the Parties, GE Digital has the authority to grant the licenses
granted in Sections 5.02 and 5.03 herein on behalf of itself and its subsidiaries.

 

Section 5.03                   
Access for Product Development. Subject to Baker Hughes’ payment of all applicable Charges and compliance
with this Agreement, GE Digital hereby grants to Baker Hughes the right to access and use (i) all GE Digital Development Software
under GE Digital’s standard and customary terms and conditions, and (ii) all other software generally made available by
GE Digital for use by the public, in each case on the same access terms as the public, for the purpose of Baker Hughes development
and support of Baker Hughes Applications (including any rights to provide and/or license the Baker Hughes Applications to Baker
Hughes Customers). Baker Hughes shall indemnify GE Digital, subject to Section 8.06, for any third party claims against
GE Digital, its Affiliates or its customers arising as a result of Baker Hughes’ access to or use of the GE Digital Development
Software.

 

Section 5.04                   
[Intentionally Left Blank]

 

Section 5.05                   
IP Ownership

 

(a)              
Except as otherwise specified in this Agreement, a Statement of Work, or an Order,
GE Digital shall retain all Intellectual Property rights in: (i) the GE Digital Offerings, and (ii) all modifications or improvements
to the source code of the GE Digital Offerings occurring during the course of this Agreement, no matter which Party made such
improvements or modifications to the source code.  Subject to the last sentence in this Section 5.05(a), Baker Hughes,
and its Affiliates, will not sublicense, distribute, create derivative works of, or reverse engineer any of the GE Digital Offerings,
or authorize any third party to do so, except as expressly permitted by GE Digital in writing. Subject to the first sentence
of this Section 5.05(a), and except as otherwise specified in this Agreement, a Statement of Work or an Order, in connection with
Professional Services: as between the Parties, GE Digital shall own all new Intellectual Property created by GE Digital or by
a third party on GE Digital’s behalf; and Baker Hughes shall own all new Intellectual Property created by Baker Hughes or
by a third party on Baker Hughes’ behalf. For avoidance of doubt, any software developed by Baker Hughes, its Affiliates,
or on behalf of Baker Hughes or its Affiliates by a third party, shall not be considered to be a modification, derivative work,
or improvement of a GE Digital Offering merely because such software: (i) links to GE Digital Offerings by using APIs or user
interfaces made available to Baker Hughes or to Baker Hughes Customers by GE Digital, or (ii) uses the data output from a GE Digital
Offering.

 

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(b)              
Except as otherwise specified in this Agreement, a Statement of Work, an Order, or
other written agreement executed by both parties, Baker Hughes and its Affiliates will not sublicense or distribute any of the
GE Digital Offerings, or authorize any third party to do so.

 

Section 5.06                   
Governmental Restrictions and Approvals. The licenses contemplated in ‎Section 5.01, ‎Section 5.02
and ‎Section 5.03 of this Agreement shall be subject to any required Governmental Authority approvals, restrictions
or reservations, including any of the foregoing that arise out of the funding of any Statement of Work, in whole or in part, by
a Governmental Authority. The Parties shall use reasonable efforts in good faith to promptly notify the other party of any such
Governmental Authority approvals, restrictions or reservations as early as possible (and preferably prior to a Statement of Work
or Order being entered into) and to obtain any and all such approvals that may be required.

 

Section 5.07                   
Third-Party IP. If GE Digital requires any license or other rights to third-party Intellectual Property or Technology
in order to provide standard GE Digital Offerings, GE Digital shall be solely responsible for using its reasonable efforts to
(a) secure such licenses or rights at its sole cost or (b) modify the GE Digital Offerings so as to not require such third-party
Intellectual Property or Technology. If GE Digital requires any license or other rights to third-party Intellectual Property or
Technology to meet Baker Hughes custom requirements or specifications, GE Digital shall notify the applicable Baker Hughes Entity
in writing as soon as practicable after GE Digital identifies such a requirement. Subject to Section 6.01, Baker Hughes
and GE Digital acknowledge and agree that as to Baker Hughes custom requirements or specifications there can be no assurance that
such licenses or other rights will be successfully obtained or obtained on acceptable terms and, where such licenses or other
rights are identified after a Statement of Work or Order has been entered into, the applicable Baker Hughes Entity and GE Digital
shall agree to work together in good faith to resolve the issue, which may include changing the scope or terminating such Statement
of Work or Order, in obtaining such consent or approval. In the event such consent or approval cannot be obtained, GE Digital
and Baker Hughes agree to negotiate in good faith a reasonably acceptable substitute GE Digital Offering that shall be subject
to the terms and conditions of this Agreement. Any GE Digital Offerings that are provided by third parties are subject to any
written agreements between GE Digital and such third parties. GE Digital shall provide Baker Hughes copies of any such agreements
to the extent such agreements impose any additional obligations on Baker Hughes.

 

Section 5.08                   
Open Source. To the extent that any of the GE Digital Offerings or Deliverables include Open Source Software, GE
Digital represents and warrants with respect to each piece of Open Source Software that: (i) GE Digital has and will fully comply
with the terms and conditions of any applicable license agreement or copyright notice, (ii) such Open Source Software will not
be used in a manner that would require the licensing, offer or provision of GE Digital Offerings source code to others for those
GE Digital Offerings that are distributed or conveyed to Baker Hughes or Baker Hughes Customers; and (iii) Baker Hughes’
and Baker Hughes Customers’ use and distribution of the Open Source Software does not and will not require Baker Hughes
or Baker Hughes Customers to disclose, license, or assign Baker Hughes’ or Baker Hughes Customers’ proprietary source
code, or any Intellectual Property related thereto, under any open source license(s). Upon Baker Hughes’ request, GE Digital
will provide a list of all of the Open Source Software that is embedded in GE Digital Offerings that Baker Hughes is authorized
to distribute.

 

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Article VI

OTHER ARRANGEMENTS

 

Section 6.01                   
Third-Party Software and Software Licenses. To the extent that GE Digital can extend its existing third-party Software
licenses to Baker Hughes as an affiliate, it shall use commercially reasonable efforts to do so if and to the extent requested
by Baker Hughes, provided, however, that Baker Hughes will be responsible for any additional fees or other payments
to which Baker Hughes agrees resulting from such extension. In the event that GE Digital is unable to extend existing third-party
Software licenses to Baker Hughes, and if and to the extent requested by Baker Hughes, GE Digital shall use commercially reasonable
efforts in good faith to assist Baker Hughes in its efforts to obtain licenses (or other appropriate rights) to use, duplicate
and distribute, as necessary, certain third-party Software disclosed in a Statement of Work or Order as necessary for GE Digital
to provide, or Baker Hughes to receive or use, GE Digital Offerings pursuant to such Statement of Work or Order; provided,
however, that Baker Hughes shall identify the specific types and quantities of any such Software licenses; provided,
further, that GE Digital shall not be required to pay any incremental fees or other payments or incur any obligations to
enable Baker Hughes to obtain any such license or rights; and provided, further, that GE Digital shall not be required
to seek broader rights or more favorable terms for Baker Hughes than those applicable to GE Digital or Baker Hughes, as the case
may be, prior to the MPSA Trigger Date or as may be applicable to GE Digital from time to time after the MPSA Trigger Date. The
Parties acknowledge and agree that there can be no assurance that GE Digital’s efforts will be successful or that Baker
Hughes will be able to obtain such licenses or rights on acceptable terms or at all and, where GE Digital enjoys rights under
any enterprise, site or similar license grant, the Parties acknowledge that such license typically precludes partial transfers
or assignments or operation of a service bureau.

 

Article VII

ADDITIONAL AGREEMENTS

 

Section 7.01                   
Security and Data Privacy.

 

(a)              
GE Digital shall use reasonable efforts to implement appropriate security measures,
in accordance with GE Digital’s standard security policies applicable to the GE Digital Offerings, including but not limited
to the Data Protection Plan which shall apply to the Predix platform and is available at www.predix.io/legal (each a “Data
Protection Plan”) designed to secure Baker Hughes Content against unauthorized, accidental, or unlawful loss, access,
or disclosure. Where there is a conflict between the Data Protection Plan and this Agreement, this Agreement shall control. GE
Digital reserves the right to modify Data Protection Plans from time to time, provided that any such changes when taken as a whole
shall not provide for lower data security protections than those provided in the Data Protection Plan effective as of the MPSA
Trigger Date. With respect to Baker Hughes Content, GE Digital shall act as the data processor of Baker Hughes Content in accordance
with Baker Hughes’ instructions as contemplated by this Agreement. If Baker Hughes Content includes any data subject to
specific legal or regulatory requirements (including, but not limited to, health care data, sensitive personal information, export-controlled
data, or sensitive government data), then Baker Hughes shall be responsible for determining whether any GE Hosted Service meets
such requirements, unless GE Digital has expressly stated in this Agreement, a Statement of Work or an Order that the GE Hosted
Service is designed to meet such requirements. However, Baker Hughes shall be entitled to rely upon written statements from GE
Digital as to the features of any GE Hosted Service in order to make any such determination.

 

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(b)              
Subject to any third-party restrictions or Intellectual Property rights, Baker Hughes
consents to GE Digital’s collection, use, and disclosure of information associated with the GE Digital Offerings as described
in this Agreement and the applicable Data Protection Plan, and in particular to the processing of Baker Hughes Content in, and
the transfer of Baker Hughes Content into, any country in which GE Digital or GE Digital’s Affiliates or subcontractors
maintain facilities (including the United States), but only to the extent permitted by applicable Law. GE Digital shall treat
Baker Hughes contact information (including personal information of Baker Hughes representatives) in accordance with GE Digital’s
Privacy Policy available at www.predix.io/legal; provided that GE Digital shall not expand the scope of GE Digital’s
Privacy Policy as of the date hereof to apply to other topics without the prior written approval of Baker Hughes. Subject to any
applicable customer restrictions communicated to GE Digital in writing, Baker Hughes consents to the disclosure of Baker Hughes
Content to GE Digital’s subcontractors, provided that the subcontractors are bound to maintain and use Baker Hughes Content
solely in accordance with this Agreement, including the confidentiality provisions set forth herein. Each Party may conduct periodic
screenings of the other and of its beneficial owners, including screening against official government lists that restrict business
dealings with certain parties, for the purpose of satisfying local and multi-national legal obligations and such Party’s
risk management requirements. Each Party consents to such screenings and is responsible for providing any notices and obtaining
any consents necessary for such screenings.

 

Section 7.02                   
Costs.

 

(a)              
Charges.

 

(i)                       
Calculation of Fees. Baker Hughes shall pay to GE Digital, unless otherwise
specified in such Statement of Work or Order, the fees determined in accordance with the Post-MPSA Trigger Date Pricing (each
fee determined in accordance with this Section 7.02(a) constituting a “Charge” and, collectively, “Charges”).
The fees set forth in the Post-MPSA Trigger Date Pricing supersede any other pricing arrangements agreed between the Parties in
respect of Add-On Services and New Services.

 

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(ii)                       
Volume Discount. Volume Discount.  For purposes of this agreement,
the “Discount Threshold” shall be Forty-Five Million Dollars ($45 million) in respect of the first year of
the Term; Sixty Million Dollars ($60 million) in respect of the second year of the Term and Seventy-Five Million Dollars ($75
million) in respect of the third year of the Term (the “Discount Threshold”). Achievement of the Discount Threshold
is subject to a cap of 30% of revenue that can be derived from Professional Services ($13.5 million in the first year; $18.0 million
in the second year and $22.5 million in the third year).  Once the Discount Threshold is met, GE Digital shall apply an additional
discount of five percent (5%) for the remainder of such calendar year to all revenues from Baker Hughes that are not for Professional
Services.  The Parties shall not carry such discount over into any subsequent calendar year.  For example, if the Post-MPSA
Trigger Date Pricing provides a fifty percent (50%) Revenue Share for each party, then Baker Hughes will receive fifty-five percent
(55%) starting with the first dollar over the Discount Threshold and continuing for the remainder of that calendar year, and in
the subsequent calendar year, the revenue share will return to fifty percent (50%) until the Discount Threshold is met. 
The revenue discount will take the form of a rebate which will be calculated at the end of the relevant year and paid to Baker
Hughes forty-five (45) days after invoice. 

 

(b)              
GE Digital shall invoice Baker Hughes monthly in arrears for any other GE Digital
Offerings provided by GE Digital. All payments by Baker Hughes are due to GE Digital within forty-five (45) calendar days of receipt
of such invoices by wire transfer to the accounts specified on Schedule 7.02(b). Such payments shall be made by wire transfer
to the account specified by GE Digital on Schedule 7.02(b). To the extent consistent with past practice with respect to
GE Digital Offerings provided or services rendered outside the United States, payments may be required to be made in local currency
or split between Affiliates (with appropriate invoicing). If Baker Hughes fails to pay such amount by the required date, Baker
Hughes shall be obligated to pay to GE Digital, in addition to the amount due, interest at the standard interest rate charged
by General Electric Company to Baker Hughes for services under the Intercompany Services Agreement, compounded monthly, accruing
from the date the payment was due through the date of actual payment. As soon as practicable after receipt of any reasonable written
request by Baker Hughes, GE Digital shall provide Baker Hughes with data and documentation supporting the calculation of a particular
Charge for the purpose of verifying the accuracy of such calculation.

 

Section 7.03                   
No Right to Set Off. Baker Hughes shall pay the full amount of Charges and shall not set-off or counterclaim any
amount owed to GE Digital under this Agreement on account of any obligation owed by GE Digital to Baker Hughes that has not been
finally adjudicated, settled or otherwise agreed upon by the Parties in writing.

 

Section 7.04                   
Taxes.

 

(a)              
Sales Tax or Other Transfer Taxes. Charges are exclusive of, and Baker Hughes
shall bear and timely pay, any and all sales, use, value-added, transaction and transfer Taxes (and any related interest and penalties)
imposed on, or payable with respect to, any Charges payable by Baker Hughes pursuant to this Agreement; provided that (i)
to the extent such Taxes are required to be collected and remitted by GE Digital and its Affiliates, Baker Hughes shall pay such
Taxes to GE Digital or the applicable Affiliate upon receipt of an invoice from GE Digital or such Affiliate; and (ii) for the
avoidance of doubt, such Charges shall be inclusive of, and GE Digital and its Affiliates shall bear, any income and similar Taxes
imposed on or payable to GE Digital and its Affiliates.

 

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(b)              
Withholding Tax and Other Similar Taxes.

 

(i)                       
If Baker Hughes determines in good faith that any amount is required under applicable
Law to be withheld or deducted in respect of any Tax from any payment by Baker Hughes under this Agreement, the Parties will take
reasonable steps to cooperate (including with respect to the structuring of payments pursuant to this Agreement) to avoid the
imposition, and/or minimize the amount, of such Tax.

 

(ii)                       
If the Parties agree in good faith that a withholding or deduction is required notwithstanding
Section 7.04(b)(i), then each of GE Digital, any of its Affiliates, and Baker Hughes will determine (reasonably and acting
in good faith) whether it is able to receive a credit for or a refund in respect of any such withheld amounts. If either Party
determines that it is so able, the arrangement will be structured such that all payments made hereunder will be made to a designated
Affiliate of GE Digital or Baker Hughes, as the case may be, organized and operated in the United States. In all cases where payments
will be made to GE Digital, Baker Hughes shall (A) make any such required withholding or deduction from the amount payable to
GE Digital, (B) timely pay the withheld or deduct amount to the relevant Governmental Authority in accordance with applicable
Law and (C) promptly forward to GE Digital a withholding tax certificate evidencing such payment by Baker Hughes to the Governmental
Authority.

 

(iii)                       
If the Parties agree in good faith (A) that a withholding or deduction of Tax is required
notwithstanding Section 7.04(b)(i) and (B) that a credit or refund is not available as set forth in Section 7.04(b)(ii),
then the Parties shall negotiate in good faith an allocation of such Tax, or economic equivalent, between Baker Hughes and GE
Digital with respect to such Taxes, and the amount of any payments made between the parties in respect of such agreed allocations
shall be determined in a manner that fully compensates the payee on an after-Tax basis.

 

(iv)                       
The determinations to be made under this Section 7.04(b) shall be so made at
the time of customer pricing, and in all cases no later than the day Baker Hughes places a purchase order with GE Digital. 
If Baker Hughes fails to follow this process or otherwise fails to identify that a withholding tax is required to be withheld
then Baker Hughes will bear the burden of any such tax imposed; except in the case where GE Digital obtains a credit or refund
as reasonably determined by GE Digital acting in good faith.

 

(c)              
Cooperation. The Parties will take reasonable steps to cooperate to minimize
the imposition of, and the amount of, Taxes described in this ‎Section 7.04.

 

(d)              
Tax Planning or Tax and Accounting Advisory Services. Notwithstanding anything
to the contrary contained in this Agreement and without limiting Section 8.07, no GE Digital Offerings provided under this
Agreement shall include or be deemed to be, or relied upon by Baker Hughes or any of its Affiliates as, tax or accounting advice,
Baker Hughes and its Affiliates shall assume all risks and liability arising from or relating to the use of and reliance upon
such GE Digital Offerings and GE Digital makes no representations or warranties with respect to such tax planning or tax or accounting
advisory services.

 

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Article VIII

STANDARD FOR SERVICEs; INDEMNITY

 

Section 8.01                   
Standard for Services. GE Digital agrees that the GE Digital Offerings provided under this Agreement shall be provided
(i) with reasonable skill and care; and (ii) in accordance with the standards set forth in the SLA and the applicable Statement
of Work.

 

Section 8.02                   
Compliance with Law; Professional Services. Each Party will be responsible for complying with all applicable Laws
and regulations, including, but not limited to export control laws, in performing its obligations under this Agreement and each
Party shall reasonably cooperate with the other and provide any information reasonably requested by the other Party in connection
with such compliance obligations. Neither GE Digital nor its Affiliates shall be obligated to provide any GE Digital Offerings
which, if provided, would violate any Law. The provision of any legal services shall be subject to the consideration of the maintenance
of attorney-client privilege for both GE Digital and Baker Hughes and any potential conflicts of interest.

 

Section 8.03                   
[Intentionally Left Blank] 

 

Section 8.04                   
[Intentionally Left Blank] 

 

Section 8.05                   
Indemnification for Certain Intellectual Property Infringement.

 

(a)              
GE Digital shall, at GE Digital’s expense, indemnify, defend or, at GE Digital’s
option, settle any claim brought against Baker Hughes that the GE Digital Offerings infringe any third party’s Intellectual
Property rights (a “Baker Hughes Infringement Claim”), and pay any final judgments awarded by a court of competent
jurisdiction or settlements entered into by GE Digital on Baker Hughes’ behalf. If use of any GE Digital Offering becomes,
or in GE Digital’s reasonable opinion is likely to become, enjoined, GE Digital may, at GE Digital’s option, (i) procure,
at no cost to Baker Hughes, the right to use such GE Digital Offering, (ii) modify the GE Digital Offering or provide a substitute
that is non-infringing, at no additional cost to Baker Hughes, or (iii) terminate this Agreement with respect to such GE Digital
Offering and refund Baker Hughes a pro-rata portion of applicable subscription fees (based on period of use) or purchase price
(less reasonable depreciation) and provide Baker Hughes with a credit for any reasonable costs incurred by Baker Hughes in connection
with its transition costs. GE Digital shall have no obligation or liability under this ‎Section 8.05(a)
for any Baker Hughes Infringement Claim to the extent such infringement is caused by: (a) any modifications to GE Digital Offerings
not provided or performed by GE Digital, (b) Baker Hughes Content and Baker Hughes designs and specifications, (c) the combination
of the GE Digital Offerings with other hardware, software, content, or services not provided by GE Digital and which are not a
GE Digital specified system requirement, or (d) use of an infringing GE Digital Offering after GE Digital has provided a non-infringing
alternative or terminated the license or subscription for it. This ‎Section 8.05(a) states GE Digital’s
sole obligation and exclusive liability (express, implied, statutory, or otherwise) and Baker Hughes’ sole remedy for any
third party claims of infringement of any intellectual or proprietary right.

 

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(b)              
Baker Hughes shall, at Baker Hughes’ expense, indemnify, defend or, at Baker
Hughes’ option, settle any claim brought against GE Digital that the contributions and data provided to GE Digital by Baker
Hughes hereunder (“Baker Hughes Data”) infringes any third party’s Intellectual Property right (a “GE
Digital Infringement Claim”), and pay any final judgments awarded by a court of competent jurisdiction or settlements
entered into by Baker Hughes on GE Digital’s behalf. If use of any Baker Hughes Data becomes, or in Baker Hughes’
opinion is likely to become, enjoined, Baker Hughes may, at Baker Hughes’ option, (i) procure, at no cost to GE Digital,
the right to use such Baker Hughes Data, (ii) modify the Baker Hughes Data or provide a substitute that is non-infringing, at
no additional cost to GE Digital, or (iii) terminate this Agreement with respect to such Baker Hughes Data and refund GE Digital
a pro-rata portion of applicable subscription fees (based on period of use) or purchase price (less reasonable depreciation) and
provide GE Digital with a credit for any reasonable costs incurred by GE Digital in connection with its transition costs. Baker
Hughes shall have no obligation or liability under this ‎Section 8.05(b) for any GE Digital Infringement
Claim to the extent such infringement is caused by: (a) a modification to the Baker Hughes Data not provided or performed by Baker
Hughes, (b) GE Digital content and GE Digital designs and specifications, (c) the combination of the Baker Hughes Data with other
hardware, software, content, or services not provided by Baker Hughes and which are not a Baker Hughes specified system requirement,
or (d) use of an infringing Baker Hughes Data after Baker Hughes has provided a non-infringing alternative or terminated the license
or subscription for it. This ‎Section 8.05(b) states Baker Hughes’ sole obligation and exclusive
liability (express, implied, statutory, or otherwise) and GE Digital’s sole remedy for any third-party claims of infringement
of any intellectual or proprietary right.

 

Section 8.06                   
Indemnification Procedure. Each Party indemnified hereunder (an “Indemnified
Party”) must notify the other Party (the “Indemnifying Party”) promptly of the applicable Claim in
writing, tender to the Indemnifying Party sole control and authority over the defense or settlement of such Claim, and reasonably
cooperate with the Indemnifying Party, at the Indemnifying Party’s expense, and provide the Indemnifying Party with available
information in the investigation and defense of such Claim. Any effort by the Indemnified Party to settle a Claim without the
Indemnifying Party’s involvement and written approval shall void any indemnification obligation hereunder.

 

Section 8.07                   
Disclaimer of Warranties. EXCEPT AS EXPRESSLY SET FORTH HEREIN AND SUBJECT TO THE LIMITATIONS IN ‎SECTION 8.08,
THE PARTIES ACKNOWLEDGE AND AGREE THAT THE GE DIGITAL OFFERINGS ARE PROVIDED AS-IS AND “WITH ALL FAULTS”, THAT BAKER
HUGHES ASSUMES ALL RISKS AND LIABILITY ARISING FROM OR RELATING TO ITS USE OF AND RELIANCE UPON THE GE DIGITAL OFFERINGS AND GE
DIGITAL MAKES NO REPRESENTATION OR WARRANTY WITH RESPECT THERETO. EXCEPT AS EXPRESSLY SET FORTH HEREIN, GE DIGITAL HEREBY EXPRESSLY
DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES REGARDING THE GE DIGITAL OFFERINGS, WHETHER EXPRESS OR IMPLIED, INCLUDING ANY REPRESENTATION
OR WARRANTY IN REGARD TO QUALITY, PERFORMANCE, NONINFRINGEMENT, COMMERCIAL UTILITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR
PURPOSE AND BAKER HUGHES HEREBY ACKNOWLEDGE SUCH DISCLAIMER. EXCEPT AS EXPRESSLY SET FORTH HEREIN AND SUBJECT TO THE LIMITATIONS
IN ‎SECTION 8.08, THE PARTIES ACKNOWLEDGE AND AGREE THAT BAKER HUGHES CONTENT IS PROVIDED AS-IS AND “WITH
ALL FAULTS”, THAT GE DIGITAL ASSUMES ALL RISKS AND LIABILITY ARISING FROM OR RELATING TO ITS USE OF AND RELIANCE UPON BAKER
HUGHES CONTENT, EXCEPT FOR GE DIGITAL’S RELIANCE UPON THE BAKER HUGHES CONTENT TO MEET ITS OBLIGATIONS TO BAKER HUGHES,
AND BAKER HUGHES MAKES NO REPRESENTATION OR WARRANTY WITH RESPECT THERETO, EXCEPT AS EXPRESSLY SET FORTH HEREIN, BAKER HUGHES
HEREBY EXPRESSLY DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES REGARDING BAKER HUGHES CONTENT, WHETHER EXPRESS OR IMPLIED, INCLUDING
ANY REPRESENTATION OR WARRANTY IN REGARD TO QUALITY, PERFORMANCE, NON-INFRINGEMENT, COMMERCIAL UTILITY, MERCHANTABILITY OR FITNESS
FOR A PARTICULAR PURPOSE AND GE DIGITAL HEREBY ACKNOWLEDGE SUCH DISCLAIMER.

 

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Section 8.08                   
Limitations of Liability. EXCEPT FOR CLAIMS ARISING FROM (A) BREACH OF CONFIDENTIALITY, (B) AN INDEMNIFICATION OBLIGATION,
(C) WILLFUL MISCONDUCT OR (D) INFRINGEMENT OF A THIRD PARTY’S INTELLECTUAL PROPERTY RIGHTS BY THE OTHER PARTY, NEITHER PARTY,
INCLUDING ITS AFFILIATES AND LICENSORS, SHALL BE LIABLE HEREUNDER FOR ANY INDIRECT, INCIDENTAL, PUNITIVE, EXEMPLARY, SPECIAL,
OR CONSEQUENTIAL DAMAGES, OR FOR ANY LOSS OF PROFITS OR REVENUE, USE, GOODWILL, DATA, OR COSTS OF SUBSTITUTE GOODS OR SERVICES,
REGARDLESS OF THE THEORY OF LIABILITY (INCLUDING NEGLIGENCE). BAKER HUGHES SHALL NOT USE THE MONITORED EQUIPMENT IN CONNECTION
WITH NUCLEAR POWER FACILITIES OR LIFE SUPPORT EQUIPMENT AND AS BETWEEN THE PARTIES TO THIS AGREEMENT, BAKER HUGHES IS SOLELY RESPONSIBLE
FOR, AND BEARS ALL RISKS ASSOCIATED WITH THE CONTROL, OPERATION, AND USE OF MONITORED EQUIPMENT IN CONNECTION WITH NUCLEAR POWER
FACILITIES AND ANY REAL TIME OR ULTRA HAZARDOUS ACTIVITIES. GE DIGITAL, INCLUDING ITS AFFILIATES AND LICENSORS, SHALL NOT BE LIABLE
FOR DAMAGES UNDER THIS AGREEMENT ARISING OUT OF A DATA BREACH, CYBER ATTACK, OR OTHER SECURITY BREACH, EXCEPT TO THE EXTENT CAUSED
BY GE DIGITAL’S BREACH OF ITS OBLIGATIONS UNDER THIS AGREEMENT. EACH PARTY’S CUMULATIVE LIABILITY FOR CLAIMS ARISING
UNDER THIS AGREEMENT SHALL BE LIMITED TO THE CUMULATIVE AMOUNTS PAID OR PAYABLE UNDER THIS AGREEMENT IN THE ONE (1) YEAR PERIOD
PRECEDING THE EVENTS GIVING RISE TO THE CLAIM, EXCEPT FOR CLAIMS ARISING FROM (A) BREACH OF CONFIDENTIALITY, (B) AN INDEMNIFICATION
OBLIGATION, (C) WILLFUL MISCONDUCT OR (D) INFRINGEMENT OF A PARTY’S INTELLECTUAL PROPERTY RIGHTS BY THE OTHER PARTY.

 

    33 

     

    

 

Section 8.09                   
No Reporting Obligations. Notwithstanding anything to the contrary contained in this Agreement or in any Schedule
hereto, neither GE Digital nor any of its Affiliates, or any of their respective Representatives, shall be obligated, pursuant
to this Agreement or any Schedule hereto, as part of or in connection with the services provided hereunder, as a result of storing
or maintaining any data referred to herein or in any Schedule hereto, or otherwise, to prepare or deliver any notification or
report to any Governmental Authority (including any taxing authority) or other Person on behalf of Baker Hughes or any of its
Affiliates, or any of their respective Representatives.

 

Article IX

GOVERNANCE; DISPUTE RESOLUTION

 

Section 9.01                   
Governance.

 

(a)              
The Relationship Managers shall serve as Co-Chairs of the Governance Council (as defined
below), including being responsible for (i) calling and presiding over each Governance Council meeting; (ii) preparing and circulating
the agenda for each such meeting; and (iii) preparing minutes of each such meeting and providing a copy of the minutes to each
Governance Council member within a reasonable period of time after each such meeting.

 

Section 9.02                   
Governance Council.

 

(a)              
Within thirty (30) days after the MPSA Trigger Date, the Parties shall establish a
management team for the relationship that shall be comprised of each of the Relationship Managers and three (3) executives or
managers of each Party designated by that Party who have relevant experience in the following matters (i) product management;
(ii) development and cloud operations; (iii) software architecture; (iv) Professional Services, implementation and delivery; (v)
customer support and success; (vi) channel relationship management and (vii) partner management (the “Governance Council”).

 

(b)              
The Governance Council shall be responsible for (i) monitoring and reporting to the
Parties on the progress of the areas of responsibility and each Party’s performance against the mutually agreed milestones
and key performance indicators (“KPIs”) as the Parties may establish from time to time; (ii) identifying and
prioritizing joint commercial pipeline and origination activities, and sharing relevant information regarding potential pipelines
for joint collaboration between the Parties for purposes of forecasting inventory and resource requirements; (iii) determining
the feasibility and cost structure for achieving 99.9% application uptime and 99.99% platform uptime and other availability and
service level criteria; (iv) facilitating the process of approving or declining the exception process for sales pursuits that
fall outside the O&G Activities; (v) at Baker Hughes’ sole discretion, sharing and discussing relevant market data and
feedback from Baker Hughes and/or Baker Hughes Customers regarding the GE Digital Offerings; (vi) serving as “first point
of contact” for attempting to resolve any issues or Disputes (as defined below) between the Parties related to this Agreement;
and (vii) performing such other functions as are appropriate to further the purposes of this Agreement as mutually determined
by the Parties. Baker Hughes shall provide to the Governance Council on a quarterly basis sales and revenue forecasts broken down
quarterly and annually by GE Digital Offering.

 

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(c)              
Upon fifteen (15) days prior written notice to the other Party, a Party may replace
any of its respective Governance Council members with another person of similar experience and seniority if it determines in its
sole discretion that business reasons require such replacement. Furthermore, each Party may designate a substitute to attend and
perform the functions of one of its Governance Council members at any Governance Council meeting, in which case such Party shall
endeavor to notify the other Party thereof reasonably in advance of that Governance Council meeting to the extent reasonably practicable.
Each Party shall endeavor to minimize turnover with regard to its Governance Council members to the extent reasonably practicable.

 

(d)              
The Governance Council shall meet as needed but not less than once each quarter during
the Term. Governance Council meetings shall be held at times and places or in such form, such as by telephone or video conference,
as the Governance Council determines.

 

Section 9.03                   
Dispute Resolution.

 

(a)              
Any dispute arising out of or in connection with this Agreement between GE Digital
and Baker Hughes (“Dispute”) should be resolved as rapidly as possible by discussion between the Relationship
Managers. If a Dispute cannot be resolved between the GE Digital Services Manager and the Baker Hughes Services Manager within
seventy-two (72) hours of the dispute arising, the GE Digital Services Manager and the Baker Hughes Services Manager should escalate
the dispute to the Chief Digital Officer of Baker Hughes and the Chief Digital Officer of GE Digital to negotiate in good faith
for an additional five (5) days (or such longer period as the Parties may agree). If at the end of such time such Persons are
unable to resolve such dispute amicably, then such dispute shall be resolved in accordance with the dispute resolution process
referred to in ‎Section 9.03(b), provided that such dispute resolution process shall not
modify or add to the remedies available to the Parties under this Agreement.

 

(b)              
If the Parties are unable to resolve a dispute in accordance with ‎Section 9.03(a),
then either Party to the dispute may within ten (10) days thereafter submit such dispute for non-binding mediation administered
by the American Arbitration Association (“AAA”) in accordance with its Commercial Arbitration Rules and Mediation
Procedures then in effect. The mediation will be conducted by a single mediator selected by the mutual written agreement of the
Parties to the dispute. The Parties to the dispute will cooperate in good faith with the AAA and with one another in selecting
the mediator, and in scheduling the mediation. Such Parties agree that they will participate in the mediation in good faith, and
that they will share equally in the costs of utilizing the AAA and the mediator. The place of mediation will be New York, New
York. If the dispute has not been resolved pursuant to such mediation procedure within thirty (30) days of the initiation of such
procedure, except where such time has been extended by the mutual written agreement of the Parties to the dispute, then the controversy
will be submitted to the AAA for binding arbitration in accordance with its Commercial Arbitration Rules and Mediation Procedures
then in effect. The arbitration will be conducted by a single arbitrator selected by the mutual written agreement of the Parties
to the dispute. The Parties to the dispute will cooperate in good faith with the AAA and with one another in selecting the arbitrator,
and in scheduling the arbitration. Should the Parties be unable to come to agreement as to the arbitrator, the Parties shall request
AAA to appoint an arbitrator. Such Parties further agree that they will participate in the arbitration in good faith, and that
they will share equally in the costs of utilizing the AAA and the arbitrator. The arbitration will be governed by the United States
Arbitration Act, 9 U.S.C. Sections 1-16, and judgment upon the award rendered by the arbitrator may be entered by any court having
jurisdiction thereof. The place of arbitration will be New York, New York. Unless otherwise agreed by such Parties, the mediator
will be disqualified from serving as the arbitrator in the dispute.

 

    35 

     

    

 

Article X

TERM AND TERMINATION

 

Section 10.01               
Term and Termination.

 

(a)              
The term of this Agreement shall commence on the MPSA Trigger Date and shall continue
until December 31, 2021, unless earlier terminated as permitted herein (the “Term”).

 

(b)              
(i) Without prejudice to Baker Hughes’ rights with respect to a Force Majeure,
a Baker Hughes Entity may from time to time terminate this Agreement: (A) with respect to any or all GE Digital Offerings, for
any reason or no reason upon providing two hundred thirty (230) days’ prior written notice to GE Digital or any longer notice
period necessary for GE Digital to avoid incurring any Termination Charges; (B) with respect to any GE Digital Offerings, if GE
Digital has failed to perform any of its material obligations under this Agreement with respect to such GE Digital Offerings,
and such failure shall continue to exist forty-five (45) days after receipt by GE Digital of written notice of such failure from
Baker Hughes; (C) immediately upon mutual agreement of the Parties; and (ii) GE Digital may terminate this Agreement with respect
to one or more GE Digital Offerings, in whole but not in part, at any time upon prior written notice to Baker Hughes if Baker
Hughes has failed to perform any of its material obligations under this Agreement relating to such GE Digital Offerings, and such
failure shall be continued uncured for a period of forty-five (45) days after receipt by Baker Hughes of a written notice of such
failure from GE Digital. The relevant Schedule shall be updated to reflect any terminated GE Digital Offering, if applicable.
In the event that any GE Digital Offering are terminated other than at the end of a month, the Charge associated with such GE
Digital Offering shall be pro-rated appropriately.

 

Section 10.02               
Termination Charges. Upon termination or reduction of any GE Digital Offering pursuant to this Agreement (other
than due to GE Digital’s insolvency), prior to the required notification periods in ‎Section 10.01(b)(i),
the applicable Baker Hughes Entity and GE Digital shall determine and mutually agree upon any applicable Termination Charges to
be invoiced.

 

Section 10.03               
Effect of Termination. Upon termination of any GE Digital Offering pursuant to this Agreement, GE Digital will have
no further obligation to provide such GE Digital Offering, and the relevant Baker Hughes Entity will have no obligation to pay
any future Charges relating to any such GE Digital Offering; provided that Baker Hughes shall remain obligated to GE Digital
for the (i) Charges, any other fees, costs and expenses owed and payable in respect of the GE Digital Offering provided prior
to the effective date of termination and (ii) Termination Charges. In connection with termination of any GE Digital Offering,
the provisions of this Agreement not relating solely to such terminated GE Digital Offering shall survive any such termination,
and in connection with a termination of this Agreement, ‎Article I, ‎Article VIII (with respect
to the limitations set forth therein), ‎Article IX, ‎Article X, ‎Article XI, all
confidentiality obligations under this Agreement and liability for all due and unpaid Charges and Termination Charges shall continue
to survive indefinitely.

 

    36 

     

    

 

Section 10.04               
Termination Assistance Services. In the event this Agreement expires or terminates or if GE Digital terminates any
or all GE Digital Offerings as permitted herein, commencing at such termination (or such other date as mutually agreed in writing
by the Parties), and continuing until the twelve (12) month anniversary of such termination, GE Digital shall (a) provide any
GE Digital Offerings that survive termination under the applicable Order or Statement of Work, and (b) at Baker Hughes’
expense, provide to Baker Hughes such cooperation, assistance and services, as reasonably determined by the Parties, to allow
the GE Digital Offerings to continue without interruption or adverse effect and to facilitate the orderly transition and migration
of the GE Digital Offerings to Baker Hughes or its designee (collectively, the “Termination Assistance Services”).
Such Termination Assistance Services may include (i) inventory and delivery to Baker Hughes or its designee of any documents,
materials, Deliverables and other documents related GE Digital Offerings, (ii) training Baker Hughes’ or its designee’s
employees, and (iii) developing a transition plan. The Parties agree that the costs of (i) above will be (A) paid by GE Digital,
if termination was exercised under Section 10.01(b)(i)(B) and (B) paid by Baker Hughes, if termination was exercised under
Sections 10.01(b)(i)(A), 10.01(b)(i)(C) or 10.01(b)(ii).

 

Section 10.05               
Force Majeure.

 

(a)              
No Party hereto (or any Person acting on its behalf) shall have any liability or responsibility
for failure to fulfill any obligation (other than a payment obligation) under this Agreement so long as and to the extent to which
the fulfillment of such obligation is prevented, frustrated, hindered or delayed as a consequence of circumstances of Force Majeure.
Each Party (or such Person) shall exercise its reasonable efforts in good faith to minimize the effect of Force Majeure on its
obligations.

 

(b)              
During the period of a Force Majeure, Baker Hughes shall be entitled to seek an alternative
provider with respect to such GE Digital Offering(s) and shall be entitled to permanently terminate such GE Digital Offering(s)
(and shall be relieved of the obligation to pay Charges for such GE Digital Offering(s) throughout the duration of such Force
Majeure) if a Force Majeure shall continue to exist for more than fifteen (15) consecutive days, it being understood that Baker
Hughes shall not be required to provide any advanced notice of such termination to GE Digital.

 

    37 

     

    

 

Article XI

GENERAL PROVISIONS

 

Section 11.01               
Independent Contractors. This Agreement does not create a fiduciary relationship, partnership, joint venture or
relationship of trust or agency between the Parties or their Affiliates and that all GE Digital Offerings are provided by GE Digital,
its Affiliates and their designees as an independent contractor. In matters relating to this Agreement, each Party will be solely
responsible for the acts of its employees and agents and such employees or agents will not be considered employees or agents of
any other Party nor will they be required to report to management of any other Party or be deemed to be under the management or
direction of any other Party. No Party will have any right, power or authority to create any obligation, express or implied, on
behalf of any other Party except to the extent expressly provided herein.

 

Section 11.02               
Treatment of Confidential Information.

 

(a)              
The Parties shall not, and shall cause all other Persons providing GE Digital Offerings
having access to information of the other Party that is known to such Person as confidential or proprietary (“Confidential
Information”) not to, disclose to any other Person or use, except for purposes of this Agreement, any Confidential Information
of the other Party; provided, however, that each Party may disclose Confidential Information of the other Party,
to the extent permitted by applicable Law: (i) to its Representatives and Affiliates on a need-to-know basis in connection with
the performance of such Party’s obligations under this Agreement; (ii) in any report, statement, testimony, authorization
or approval request, notice, filing or other submission to any Governmental Authority having jurisdiction over the disclosing
Party; or (iii) in order to comply with applicable Law, or in response to any summons, subpoena or other legal process or formal
or informal investigative demand issued to the disclosing Party in the course of any litigation, investigation or administrative
proceeding. In the event that a Party becomes legally compelled (based on advice of counsel) by Law, deposition, interrogatory,
request for documents subpoena, civil investigative demand or similar judicial or administrative process to disclose any Confidential
Information of the other Party, such disclosing Party shall provide the other Party with prompt prior written notice of such requirement,
and, to the extent reasonably practicable, cooperate with the other Party (at such other Party’s expense) to obtain a protective
order or similar remedy to cause such Confidential Information not to be disclosed, including interposing all available objections
thereto, such as objections based on settlement privilege. In the event that such protective order or other similar remedy is
not obtained, the disclosing Party may furnish only that portion of the Confidential Information that has been legally compelled,
and shall exercise its reasonable efforts in good faith (at such other Party’s expense) to obtain assurance that confidential
treatment will be accorded such Confidential Information.

 

(b)              
Each Party shall, and shall cause its Representatives to, protect the Confidential
Information of the other Party by using the same degree of care to prevent the unauthorized disclosure of such as the Party uses
to protect its own confidential information of a like nature, and in no event less than commercially reasonable care.

 

    38 

     

    

 

(c)              
Each Party shall direct its Representatives to comply with the same restrictions on
use and disclosure of Confidential Information and bind such Party in advance of the disclosure of any such Confidential Information
to such Representatives. Each Party shall be responsible for any failure by its Representatives to comply with the restrictions
on use and disclosure of Confidential Information contained herein.

 

(d)              
Each Party shall comply with all applicable state, federal and foreign privacy and
data protection Laws that are or that may in the future be applicable to the provision of GE Digital Offerings hereunder.

 

Section 11.03               
Audit. Not more than once each calendar year during the term of this Agreement, upon thirty (30) days’ advance
written notice, either Party may audit (or cause an independent third-party auditor to audit), during regular business hours and
in a manner that complies with the building and security requirements of the Party being audited, the books, records and facilities
of the other Party pertaining solely (a) to the provision and use of GE Digital Offerings pursuant to this Agreement to the extent
necessary to determine such Party’s compliance with this Agreement and (b) the Charges that have been invoiced. Any audit
conducted under this ‎Section 11.03 shall not interfere unreasonably with the operations of such Party. The Party
requesting the audit shall pay the costs of conducting such audit. All information learned or obtained from such audit shall be
deemed Confidential Information for purposes of this Agreement, and may only be disclosed pursuant to ‎Section 11.02.

 

Section 11.04               
Further Assurances. Each Party covenants and agrees that, without any additional consideration, it shall execute
and deliver any further legal instruments and perform any acts that are or may become necessary to effectuate this Agreement.

 

Section 11.05               
Notices. Except with respect to routine communications between the Relationship Managers, all notices, requests,
claims, demands and other communications hereunder shall be in writing and shall be given (and, in the case of delivery in person
or by overnight mail, shall be deemed to have been duly given upon receipt) by delivery in person or overnight mail to the respective
Parties, delivery by facsimile transmission (providing confirmation of transmission) to the respective Parties or delivery by
electronic mail transmission (providing confirmation of transmission) to the respective Parties. Any notice sent by facsimile
transmission or electronic mail transmission shall be deemed to have been given and received at the time of confirmation of transmission.
Any notice sent by electronic mail transmission shall be followed reasonably promptly with a copy delivered by overnight mail.
All notices, requests, claims, demands and other communications hereunder shall be addressed as follows, or to such other address,
facsimile number or email address for a Party as shall be specified in a notice given in accordance with this ‎Section 11.05.

 

(a)              
If to GE Digital:

 

GE Digital LLC

2623 Camino Ramon, San Ramon, CA 94583

Attention: General Counsel

 

    39 

     

    

 

(b)              
If to Baker Hughes:

 

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

  

Section 11.06               
Entire Agreement. Except as otherwise expressly provided in this Agreement, this Agreement constitutes the entire
agreement of the Parties hereto with respect to the distribution and resale of GE Digital Offerings by Baker Hughes with respect
to the Baker Hughes Channel and supersedes all prior agreements and undertakings, both written and oral, between or on behalf
of the Parties hereto with respect to the distribution and resale of GE Digital Offerings by Baker Hughes with respect to the
Baker Hughes Channel.

 

Section 11.07               
No Third-Party Beneficiaries. This Agreement is for the sole benefit of the Parties and their permitted successors
and assigns and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person, including
any union or any employee or former employee of GE Digital or Baker Hughes, or entity any legal or equitable right, benefit or
remedy of any nature whatsoever, including any rights of employment for any specified period, under or by reason of this Agreement.

 

Section 11.08               
Amendment; Waiver. No provision of this Agreement, including any Exhibits, Annexes or Schedules thereto, may be
amended, supplemented, waived or modified except by a written instrument making specific reference hereto or thereto signed by
all the Parties. No waiver of any breach of or non-compliance with this Agreement shall be deemed to be a waiver of any other
or subsequent breach or non-compliance.

 

Section 11.09               
Governing Law. This Agreement and any disputes (whether for breach of contract, tortious conduct or otherwise and
whether predicated on common law, statute or otherwise) shall in all respects be governed by, and construed in accordance with,
the Laws of the State of New York, including all matters of construction, validity and performance, in each case without reference
to any conflict of Law rules that might lead to the application of the Laws of any other jurisdiction.

 

Section 11.10               
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 11.11               
Assignment. 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,
either Party may assign any or all of its rights and obligations under this Agreement to (i) an Affiliate or (ii) in connection
with a reorganization or a sale or disposition of any assets or lines of business of such Party, provided that the transferee
of such assets shall agree in writing to be bound by the terms of this Agreement as if named as a “Party” hereto.

 

    40 

     

    

 

Section 11.12               
Rules of Construction. Interpretation of this Agreement shall be governed by the following rules of construction:
(a) words in the singular shall be held to include the plural and vice versa, and words of one gender shall be held to include
the other gender as the context requires; (b) references to the terms Article, Section, paragraph, Exhibit and Schedule are references
to the Articles, Sections, paragraphs, Exhibits, Annexes and Schedules of this Agreement unless otherwise specified; (c) the terms
“hereof”, “herein”, “hereby”, “hereto”, and derivative or similar words refer
to this entire Agreement, including the Schedules, Annexes and Exhibits hereto; (d) references to “$” means U.S. dollars;
(e) the word “including” and words of similar import when used in this Agreement means “including without limitation,”
unless otherwise specified; (f) the word “or” shall not be exclusive; (g) references to “written” or “in
writing” include in electronic form; (h) provisions shall apply, when appropriate, to successive events and transactions;
(i) the headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation
of this Agreement; (j) GE Digital and Baker Hughes have each participated in the negotiation and drafting of this Agreement and
if an ambiguity or question of interpretation should arise, this Agreement shall be construed as if drafted jointly by the Parties
and no presumption or burden of proof shall arise favoring or burdening either Party by virtue of the authorship of any of the
provisions in any of this Agreement; (k) a reference to any Person includes such Person’s successors and permitted assigns;
(l) any reference to “days” means calendar days unless Business Days are expressly specified; and (m) when calculating
the period of time before which, within which or following which any act is to be done or step taken pursuant to this Agreement,
the date that is the reference date in calculating such period shall be excluded, if the last day of such period is not a Business
Day, the period shall end on the next succeeding Business Day.

 

Section 11.13               
Non-Recourse. No past, present or future director, officer, employee, incorporator, member, partner, stockholder,
Affiliate, agent, attorney or representative of GE Digital or Baker Hughes shall have any liability for any obligations or liabilities
of such Party under this Agreement of or for any claim based on, in respect of, or by reason of, the transactions contemplated
hereby.

 

Section 11.14               
Export Law Compliance. Each Party shall be responsible for their compliance with applicable United States (or other
jurisdictions as applicable) export laws, rules and regulations as related to their performance under this Agreement.

 

Section 11.15               
The GE Integrity Guide for Suppliers, Contractors and Consultants. Each Party covenants that it is committed to
unyielding integrity and will act in a manner consistent with the GE Integrity Guide for Suppliers, Contractors and Consultants,
a copy of which is available in several languages at the following link: http://www.gesupplier.com/html/SuppliersIntegrityGuide.htm
and the Baker Hughes Code of Conduct.

 

    41 

     

    

 

Section 11.16               
Subcontractor Flow Downs for United States Government Commercial Items Contracts. If the GE Digital Offering being
procured by Baker Hughes are in support of a United States government end customer or an end customer funded in whole or part
by the United States government, directly or through a prime contractor, Baker Hughes shall expressly identify such use of any
New Services in the Request for New Services and as necessary will agree to include compliance as necessary with the terms and
conditions applicable to services procured for the United States government located at the following link: http://www.gesupplier.com/html/GEPolicies.htm.

 

Section 11.17               
No Conflict. In the event of any conflict or inconsistency between the terms and ‎conditions of this Agreement
and the terms and conditions of a Statement of Work, the terms ‎and conditions of this Agreement shall prevail, unless a Statement
of Work specifically ‎references the provisions of this Agreement that are inconsistent therewith (or it is reasonably ‎apparent
from the face of the Statement of Work that such provisions were meant to be ‎specifically referenced and were inadvertently
not so referenced), in which case the terms and ‎conditions of such Statement of Work shall prevail.  The Parties shall
modify any provisions of ‎this Agreement to the extent necessary to comply with the local Laws of the jurisdiction in which
‎such Statement of Work is executed.

 

Section 11.18               
Source Code Escrow.

 

(a)              
As soon as practicable after the MPSA Trigger Date, the Parties shall enter into a
source code escrow agreement (the “Escrow Agreement”) with a reputable, mutually acceptable third-party escrow
agent (the “Escrow Agent”) for the escrow of on-premise Meridium and on-premise Smart Signal source codes,
along with any training manuals and tangible embodiments, as such exist as of the MPSA Trigger Date (the “Escrow Software”),
which shall provide the following:

 

(i)                
GE Digital shall make only those Baker Hughes Customers agreed upon by the Parties,
if any, the beneficiaries of source code, source materials and all the documentation embodying the Escrow Software that will be
deposited by GE Digital with the Escrow Agent; and

 

(ii)             
GE Digital shall deposit into escrow the current version of the Escrow Software, in
source code format, upon execution of the Escrow Agreement or as soon as practicable thereafter, and GE Digital shall, on an ongoing
basis, continue to maintain and update in escrow the most current version(s) of the Escrow Software.

 

(b)              
A Baker Hughes Customer identified as a beneficiary to the Escrow Agreement shall
be entitled to a release of the Escrow Software in the event that:

 

(i)                
GE Digital ceases to do business in the ordinary course or GE Digital terminates the
offering, support, and maintenance of the Escrow Software, and provided that the offering, support, and maintenance of the Escrow
Software have not been assigned to a third party;

 

    42 

     

    

 

(ii)             
GE Digital is acquired or divests the Escrow Software and the acquiring organization
no longer offers, supports, or maintains the Escrow Software; provided that if such acquiring organization obsoletes, discontinues
or otherwise terminates such Escrow Software in accordance with the End of Life Policy and Section 2.03(b), then such Baker
Hughes Customer shall not be entitled to release of such Escrow Software;

 

(iii)           
GE Digital files or has filed against it a petition in bankruptcy or insolvency, or
files a petition or answer seeking reorganization, readjustment or restructuring under any law relating to bankruptcy or insolvency,
or a receiver is appointed for a full or a substantial portion of its property, or it makes any assignment or attempted assignment
for the benefit of creditors, unless any of the above referenced petitions are dismissed in favor of GE Digital within sixty (60)
days of filing;

 

(c)              
In the event a Baker Hughes Customer that is a beneficiary as set forth above exercises
its right to obtain the deposited source code of the Escrow Software under the release conditions as stated herein, such Baker
Hughes Customer (or, upon GE Digital’s consent, which shall not be unreasonably withheld or delayed, Baker Hughes) may use
such source code solely in a defined, controlled environment and solely for purposes of Baker Hughes’ obligations to such
Baker Hughes Customer that are in existence at the time of such release of the Escrow Software and that cannot be supported by
GE Digital. Such Baker Hughes Customer (or, if consented as above, Baker Hughes) shall not use released Escrow Software for any
other purposes.

 

(d)              
The Parties acknowledge that in the event of such release of the Escrow Software,
GE Digital may need to make available to Baker Hughes certain additional proprietary software tools which are necessary enable
the functioning of the Escrow Software (“Enabling Tools”). GE Digital shall make available to Baker Hughes
such Enabling Tools that are necessary for the operation of the Escrow Software for a reasonable interim period, provided that
Baker Hughes shall use such Enabling Tools strictly and solely for such enabling purpose. Notwithstanding anything to the contrary
herein, GE Digital shall have the right to deposit into escrow a version of the Escrow Software that does not require such Enabling
Tools.

 

[Signature
page follows]

 

    43 

     

    

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

 

 

	 	GE DIGITAL LLC
	 	 
	 	 
	 	By: 	/s/ James M. Waterbury
	 	 	Name:	 James M. Waterbury
	 	 	Title:	Authorized Signatory 

 

 

 

	 	BAKER HUGHES, A GE COMPANY, LLC

        

	 	 
	 	 
	 	By: 	/s/ Lee Whitley 
	 	 	Name:	 Lee Whitley
	 	 	Title:	Corporate Secretary 

 

 

 

 

    44Exhibit 10.11

 

 

THIS
AMENDED AND RESTATED INTELLECTUAL PROPERTY CROSS LICENSE AGREEMENT (this “Agreement”), as of November 13,
2018 and effective as of the Effective Date (as defined below), is made and entered into by and between General Electric Company,
a New York corporation, on behalf of its Affiliates and divisions (“GE”), and Baker Hughes, a GE company, LLC,
a Delaware limited liability company (“Company”), on behalf of itself and its Affiliates.

 

WHEREAS,
GE and the predecessors-in-interest to Baker Hughes, a GE Company, a Delaware corporation (“BHGE”), and Company,
along with certain other parties thereto, entered into that certain Transaction Agreement and Plan of Merger, dated as of October
30, 2016, as amended by that certain Amendment to the Transaction Agreement and Plan of Merger, dated as of March 27, 2017 (as
so amended, the “Transaction Agreement”), pursuant to which, among other things, GE and BHI combined GE’s
O&G with BHI and effected the transactions contemplated by the Transaction Agreement, resulting in GE owning Paired Interests
(as defined in that certain Exchange Agreement, dated as of July 3, 2017, among GE, BHGE and Company) and BHGE indirectly owning
common units in Company;

 

WHEREAS,
the transactions contemplated by the Transaction Agreement, including entry into the Ancillary Agreements and the Long-Term Ancillary
Agreements, were consummated on July 3, 2017;

 

WHEREAS,
GE, BHGE and Company desire to restructure their existing relationships to facilitate BHGE’s ability to operate as an independent
and standalone company, and to enter into certain other mutually-beneficial long-term arrangements (the “Restructuring”);

 

WHEREAS,
in connection with the Restructuring, GE and Company desire to enter into that certain Amended and Restated GE Digital Master
Products and Services Agreement (the “Digital Agreement”); and

 

WHEREAS,
in connection with the Restructuring, GE and Company desire to amend and restate that certain Intellectual Property Cross License
Agreement, dated as of July 3, 2017 by and between the Parties hereto (the “Original Intellectual Property Cross License
Agreement”) in the manner provided by this Agreement.

 

NOW
THEREFORE, in consideration of the mutual covenants and agreements contained herein, the Parties (as defined below), intending
to be legally bound, hereby agree to amend and restate the Original Intellectual Property Cross License Agreement as follows:

 

Article
I

Definitions

 

Section
1.01 Certain Defined Terms. Unless
otherwise defined herein, all capitalized terms used herein shall have the meanings ascribed to them in the Transaction Agreement.
The following capitalized terms used in this Agreement shall have the meanings set forth below:

 

(a)              
“AAA” has the meaning set forth in Exhibit A.

 

     1

     

    

 

(b)              
“Additive Dockets” means the patents and patent applications listed
on Exhibit G hereto, together with all foreign counterparts and continuation applications of all types, including reissuances,
restorations, divisions, continuations, continuations-in-part, revisions, extensions and re-examinations thereof, and all rights
therein provided by international treaties or conventions.

 

(c)              
“Additive Dockets Field” means the fields of power generation,
transportation, aviation, marine, additive manufacturing machines, healthcare, power, lighting, renewables, digital, and capital,
in each case, excluding the Company Field.

 

(d)              
“Additive Field” means offering for sale, lease or distribution
or otherwise providing, either directly or indirectly, to any customer (including O&G Customers and competitors of the Company)
regardless of end user or end segment, materials, machines, processes, practices, Software data or designs that can be used in
Additive Manufacturing of products, or any products of Additive Manufacturing themselves.

 

(e)              
“Additive Manufacturing” means the process of joining materials
to make objects from 3D model data, usually layer upon layer, as opposed to subtractive manufacturing methodologies.

 

(f)               
“Affiliate” means, with respect to a Party, any individual, company,
organization or other entity that, directly or indirectly, is controlled by, controls or is under common control with such Party
by ownership, directly or indirectly, of more than fifty percent (50%) of the stock entitled to vote in the election of directors
or, if there is no such stock, more than fifty percent (50%) of the ownership interest in such individual or entity. For the purposes
of this Agreement, (i) references to GE’s “Affiliates” shall be deemed to exclude the Company Group and (ii)
references to Company’s “Affiliates” shall be deemed to exclude GE and its Subsidiaries that are not within
the Company Group.

 

(g)              
“Agreement” has the meaning set forth in the Preamble.

 

(h)              
“Bankruptcy Code” has the meaning set forth in Section 2.05.

 

(i)                
“Channel Agreement” means that certain letter agreement entered
into by GE and Baker Hughes, a GE company, dated as of July 3, 2017, the subject line of which reads “RE: Channel Agreement”
(as amended, modified or supplemented from time to time in accordance with its terms).

 

(j)                
“Company” has the meaning set forth in the Preamble.

 

(k)              
“Company Existing IP” means Intellectual Property that, as of the
Closing Date, is Controlled by the Company or any of its Affiliates.

 

(l)                
“Company Field” means: (i) the field of offering: (A) O&G Products
and Services to O&G Customers, (B) the O&G Products and Services listed on Exhibit B and (C) the O&G Channel
Products; (ii) any other activity not covered by (i) that any member of the Company Group is expressly permitted to engage in
under the terms of the Channel Agreement subject to the terms and conditions thereof; and (iii) Company Specific Fields.

 

     2

     

    

 

(m)            
“Company Future IP” means Intellectual Property that, subsequent
to the Closing Date, is Controlled by the Company or any of its Affiliates, including, without limitation, Improvements of GE
Existing IP or Company Existing IP.

 

(n)              
“Company Group” means the Company and its Subsidiaries.

 

(o)              
“Company Intellectual Property” means Company Existing IP and Company
Future IP, other than (i) any such Intellectual Property directed to the Company Specific Fields and (ii) the Transferred Patents,
the Digital Dockets and the Power Dockets.

 

(p)              
“Company Specific Fields” means the field of offering: (i) agricultural
chemicals to the agricultural industry, (ii) low molecular weight olefin polymers and copolymers or (iii) subsurface geothermal
exploration, drilling, evaluation, completion, well intervention, stimulation or production in and of geothermal reservoirs.

 

(q)              
“Company Specific Fields Intellectual Property” means Intellectual
Property that is: (i) Controlled by Company or any of its Affiliates as of the Closing Date, (ii) Used or Held for Use by GE or
any of its Affiliates as of the Signing Date, and (iii) directed to any of the Company Specific Fields or any of the GE Specific
Fields.

 

(r)               
“Confidential Information” has the meaning set forth in Section
5.01.

 

(s)               
“Control” or “Controlled” means, with respect
to Intellectual Property, the right (other than any such right in-licensed pursuant to this Agreement) to grant a license or sublicense
to such Intellectual Property as provided for herein without: (i) violating the terms of any agreement or other arrangement with
any third party; (ii) requiring any consent, approvals or waivers from any third party, or any breach or default by the party
being granted any such license or sublicense being deemed a breach or default affecting the rights of the party granting such
license or sublicense; or (iii) requiring the payment of material compensation to any third party.

 

(t)                
“Control Systems Dockets” means the patents and patent applications
listed on Exhibit H hereto, together with all foreign counterparts and continuation applications of all types, including
reissuances, restorations, divisions, continuations, continuations-in-part, revisions, extensions and re-examinations thereof,
and all rights therein provided by international treaties or conventions.

 

(u)              
“Control Systems Field” means any activity relating to programmable
logic controllers, distributed control systems or computerized numerical controls (including system components such as field agents
(hardware and Software that serves as a secure bi-directional data conduit between the “Edge” controller and a database),
process instrumentation, analytical devices, control valves, actuation and motion)) integrating sensors and controls either across
enterprises or localized on equipment, in each case, providing automation of manufacturing enterprises and processes, including
hardware and Software optimization and supervisory control and data acquisition and analysis.

 

(v)              
“Digital Dockets” means the patents and patent applications listed
on Exhibit J-3 together with all foreign counterparts and continuation applications of all types, including reissuances,
restorations, divisions, continuations, continuations-in-part, revisions, extensions and re-examinations thereof, and all rights
therein provided by international treaties or conventions.

 

     3

     

    

 

(w)            
“Digital Field” means the business of providing products and services
described as GE Digital Offerings (as defined in the Digital Agreement) as well as certain ServiceMax products and services covered
by the Digital Agreement.

 

(x)              
“Disclosing Party” has the meaning set forth in Section 5.01.

 

(y)              
“Dispute” has the meaning set forth in Section 6.12.

 

(z)              
“Effective Date” means the date on which the last of the Additional
Agreements and the Amendments is executed, as those terms are defined in the Master Agreement. For the avoidance of doubt, if
the Effective Date fails to occur, neither Party will have, nor be deemed to have had, any obligations under the terms of this
Agreement and the Original Intellectual Property Cross License Agreement shall remain in full force and effect.

 

(aa)           
“GE” has the meaning set forth in the Preamble.

 

(bb)          
“GE Analytics Software” means Software that performs analytics
or predicts performance of physical equipment.

 

(cc)           
“GE Existing IP” means Intellectual Property that, as of the Closing
Date, is Controlled by GE or any of its Affiliates (except GE Digital LLC).

 

(dd)          
“GE Field” means any field other than the Company Field.

 

(ee)           
“GE Future IP” means Intellectual Property that, subsequent to
the Closing Date, is Controlled by GE or any of its Affiliates (except GE Digital LLC), including, without limitation, Improvements
of Company Existing IP or GE Existing IP.

 

(ff)             
“GE Group” means GE and its Subsidiaries from time to time other
than Baker Hughes, a GE company, and its Subsidiaries; provided that any Person who at any time is a member of the GE Group
shall cease being a member of the GE Group if at any time it is no longer a Subsidiary of GE; provided, further
that “GE Group” shall not include (i) any Person that purchases assets, operations or a business from a member of
the GE Group if such Person is not a Subsidiary of GE after such transaction is consummated, and (ii) any Subsidiary of GE in
which a Person who is not an Affiliate of GE holds equity interests and with respect to whom a member of the GE Group, on the
Closing Date, has existing contractual or legal obligations (including fiduciary duties of representatives on the board of directors
or similar body of such Subsidiary) which exclude GE’s ability to impose on the subject Subsidiary GE’s obligations
applicable herein. For clarity, any references to an applicable business unit of GE shall be also to the successor of such GE
business unit within the GE Group.

 

(gg)          
“GE Intellectual Property” means GE Existing IP and GE Future IP,
other than (i) any such Intellectual Property directed to any of the GE Specific Fields and (ii) the Shared Patents, the Transportation
Dockets and the Horizontal Dockets.

 

     4

     

    

 

(hh)          
“GE O&G” means GE’s Oil & Gas business described
in the segment disclosures in GE’s annual report on Form 10-K filed with the SEC for the fiscal year ended December 31,
2015, as reflected in the GE O&G Financial Statements.

 

(ii)             
“GE Specific Fields” means any of (i) the Additive Field, (ii)
the IIOT Enabling Field and (iii) the Control Systems Field.

 

(jj)             
“GE Specific Fields Intellectual Property” means Intellectual Property
that is: (i) Controlled by GE or any of its Affiliates as of the Closing Date, (ii) Used or Held for Use by the Company or any
of its Affiliates as of the Signing Date, and (iii) directed to any of the GE Specific Fields.

 

(kk)          
“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.

 

(ll)             
“Held for Use” means held with a plan to Use as established by
contemporaneous written records in connection with, with respect to GE, any business of GE or its Affiliates, and with respect
to the Company, any business of the Company or its Affiliates.

 

(mm)     
“Horizontal Dockets” means the patents and patent applications
listed on Exhibit J-2 hereto, together with all foreign counterparts and continuation applications of all types, including
reissuances, restorations, divisions, continuations, continuations-in-part, revisions, extensions and re-examinations thereof,
and all rights therein provided by international treaties or conventions.

 

(nn)          
“IIOT Enabling Dockets” means the patents and patent applications
listed on Exhibit I hereto, together with all foreign counterparts and continuation applications of all types, including
reissuances, restorations, divisions, continuations, continuations-in-part, revisions, extensions and re-examinations thereof,
and all rights therein provided by international treaties or conventions.

 

(oo)          
“IIOT Enabling Field” means any activity, asset, device, Software
or service, including the offering for sale, distribution, use or provision of such activities, devices, assets, Software or services,
which connect, sense, measure, coordinate, manage, test, control, automate or communicate between or among industrial assets (including
healthcare assets) or which store, process, analyze, manage, secure or transfer industrial data (including complex healthcare
data) including for data acquisition, data analysis or data exchange among assets or processors and including local, distributed,
networked or cloud-based supervisory data acquisition and control systems, human-machine interface systems, system optimization
techniques, condition monitoring, predictive maintenance, asset performance management systems, asset monitoring systems, operational
optimization systems, operational security systems, and communication techniques and algorithms in connection with such assets,
data, and activities.

 

(pp)          
“Improvement” means any modification, extension, derivative work
or improvement of any Intellectual Property.

 

     5

     

    

 

(qq)          
“Intellectual Property” means all of the following, whether protected,
created or arising under the Laws of the United States or any foreign jurisdiction: (i) all inventions (whether patentable or
unpatentable and whether or not reduced to practice), patent disclosures, industrial designs, all improvements thereto, and all
United States and foreign patents, patent applications (including all patents issuing thereon), statutory invention registrations
and invention disclosures, together with all continuation applications of all types, including reissuances, restorations, divisions,
continuations, continuations-in-part, revisions, extensions and re-examinations thereof, and all rights therein provided by international
treaties or conventions; (ii) all United States and non U.S. copyrightable works (including copyrights in Software), design rights,
database rights, all copyrights and applications, registrations and renewals in connection therewith, whether registered or unregistered;
(iii) trade secrets, know-how and information that is proprietary and confidential; and (iv) all mask works (as defined in 17
U.S. C. §901) and all applications, registrations and renewals in connection therewith. As used in this Agreement, the term
“Intellectual Property” expressly excludes all United States and foreign trademarks, service marks, trade dress,
logos, trade names, Internet domain names, moral rights, designs, slogans and corporate names and general intangibles of like
nature, whether registered or unregistered, together with all translations, adaptations, derivations and combinations thereof
and other identifiers of source and including all goodwill associated therewith and all rights therein provided by international
treaties or conventions, common law rights, applications, registrations, pending registrations, applications to register, reissues,
extensions of the foregoing and renewals in connection therewith.

 

(rr)             
“Intercompany Services Agreement” means that certain Intercompany
Services Agreement dated as of July 3, 2017, between GE and the Company (as amended, modified or supplemented from time to time
in accordance with its terms).

 

(ss)            
“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.

 

(tt)             
“Leasing” means the rental, leasing, or financing under operating
leases, finance leases or hire purchase or rental agreements, of property (other than O&G Products and Services), whether
real, personal, tangible or intangible.

 

(uu)          
“Master Agreement” means that certain Master Agreement dated as
of the date hereof, between GE, the Company and Baker Hughes, a GE company.

 

(vv)          
“Notice” has the meaning set forth in Exhibit A.

 

(ww)      
“O&G Activities” means the following oil and gas activities:
(i) exploration (including seismic surveying), drilling, evaluation (including reservoir and reserves analysis), completion, well
intervention, stimulation or production in and of reservoirs; (ii) liquefied natural gas; (iii) compression and boosting liquids
(i.e., pumps) in upstream, midstream and downstream; (iv) pipeline inspection, pipeline commissioning and pipeline integrity management;
(v) processing in refineries and petrochemical (including fertilizer) plants or production chemicals in the upstream; and (vi)
additive chemicals in the downstream (excluding in each case, agriculture chemicals and specialty polymers).

 

     6

     

    

 

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

 

(yy)          
“O&G Customers” means companies engaged in the oil and gas
industry (but excluding their Affiliates or business units, as applicable, that are not so engaged) in any of the O&G Activities.

 

(zz)           
“O&G Products and Services” means products, parts, equipment,
services, technology and systems (including, for the avoidance of doubt, Software): (a) for use in the O&G Activities (including
digital products, parts, equipment, services, technology and systems that are offered by the members of the GE Group other than
the GE Digital business unit); or (b) listed on Exhibit B, and solely with respect to clause (b), which the Company can
reasonably demonstrate by ordinary course business documents or systems that, as of the Signing Date (i) GE O&G was engaged
in the sale thereof, or (ii) were contemplated or being designed by GE O&G, including any reasonably foreseeable enhancements
or extensions thereof (including by further investments therein), provided that such enhancements or extensions thereof, including
by further investments therein, continue to fall within the description of the applicable product, part, equipment, service, technology
or system listed on Exhibit B; and excluding, with respect to both clauses (a) and (b), the Software, products, parts, equipment,
services, technology and systems of GE Digital LLC.

 

(aaa)       
“Party” means either GE and its Affiliates, on the one hand, or
Company and its Affiliates, on the other hand, and “Parties” means collectively GE, Company and their Affiliates.

 

(bbb)      
“Person” means an individual, corporation, partnership, joint venture,
association, trust, unincorporated organization, limited liability company or governmental or other entity.

 

(ccc)       
“Power Dockets” means the patents and patent applications listed
on Exhibit J-4 together with all foreign counterparts and continuation applications of all types, including reissuances,
restorations, divisions, continuations, continuations-in-part, revisions, extensions and re-examinations thereof, and all rights
therein provided by international treaties or conventions.

 

     7

     

    

 

(ddd)      
“Power Field” means the (A) business of providing to customers
operating primarily outside of the oil and gas industry and when the application is one or more of the following activities: (i)
industrial power generation (i.e., metals, pulp and paper, and waste to energy), (ii) cogeneration (“Cogen”),
(iii) combined heat and power (“CHP”), (iv) hybrid power generation, (v) combined cycle for utility/IPP and
(vi) conventional (including, without limitation, simple cycle power plants) and nuclear power generation for utility/IPP including
Cogen, CHP and biomass, and (B) any and all areas inside the oil and gas industry where the Parties have agreed the GE Power business
unit has exclusivity in the Exclusive Distribution Agreement Term Sheets for Exclusive Products and Exclusive Services.

 

(eee)       
“Receiving Party” has the meaning set forth in Section 5.01.

 

(fff)          
“Representatives” means, with respect to a Person, the Affiliates
of such Person and the directors, officers, partners, employees, agents, consultants, contractors, advisors, legal counsel, accountants
and other representatives of such Person and its Affiliates.

 

(ggg)      
“Shared Patents” means the patents listed on Exhibit J together
with all continuation applications of all types, including reissuances, restorations, divisions, continuations, continuations-in-part,
revisions, extensions and re-examinations thereof, and all rights therein provided by international treaties or conventions, in
each case of the foregoing, owned by GE or any of its Affiliates but excluding any Transferred Patents.

 

(hhh)      
“Side Letter” means that certain Side Letter entered into by GE
and the Company, dated as of the date hereof, the subject line of which begins “RE: Following aspects of that certain Amended
and Restated Intellectual Property Cross License Agreement...” (as amended, modified or supplemented from time to time
in accordance with its terms).

 

(iii)           
“Signing Date” means October 30, 2016.

 

(jjj)           
“Software” means computer software, programs and databases in any
form or format, including compilations, tool sets, data compilers, higher level or “proprietary” language and macros,
Internet web sites, web content and links, all versions, updates, corrections, enhancements, replacements and modifications thereof,
and all documentation, flow charts, diagrams, descriptive texts and programs, computer print-outs, underlying media and materials
related thereto, whether in source code, object code or human readable form.

 

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

 

(lll)           
“Stockholders Agreement” means that certain Stockholders Agreement
entered into by GE and Baker Hughes, a GE company, dated as of July 3, 2017 (as amended, modified or supplemented from time to
time in accordance with its terms).

 

(mmm)    
 “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 equity interests of which) is owned directly or indirectly by such first Person.

 

     8

     

    

 

(nnn)      
“Transaction Agreement” has the meaning set forth in the Recitals.

 

(ooo)      
“Transferred Patents” means the patents listed on Exhibit K
together with all continuation applications of all types, including reissuances, restorations, divisions, continuations, continuations-in-part,
revisions, extensions and re-examinations thereof, and all rights therein provided by international treaties or conventions, in
each case of the foregoing, owned by Company or any of its Affiliates.

 

(ppp)      
 “Transportation Dockets” means the patents and patent applications
listed on Exhibit J-1 together with all foreign counterparts and continuation applications of all types, including reissuances,
restorations, divisions, continuations, continuations-in-part, revisions, extensions and re-examinations thereof, and all rights
therein provided by international treaties or conventions.

 

(qqq)      
 “Use” means, with respect to Intellectual Property, to use, practice,
reproduce, distribute, perform, transmit, display and otherwise exploit; to use for research and development purposes; to prepare
modifications, derivative works or improvements based upon; and to make, have made, sell, distribute, offer to sell, have sold,
import, export, lease and otherwise commercialize or dispose of, in each case, products and services that embody such Intellectual
Property.

 

Section
1.02 Interpretations. When a reference
is made in this Agreement to an Article, Section or Exhibit, such reference shall be to an Article, Section or Exhibit to this
Agreement unless otherwise indicated. The words “include,” “includes” and “including” when
used herein shall be deemed in each case to be followed by the words “without limitation.” Any references in this
Agreement to “the date hereof” refers to the date of execution of this Agreement. The headings contained in this Agreement
are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. References to
“this Agreement,” “hereof,” “herein,” and “hereunder” refer to this Agreement
as a whole and not to any particular provision of this Agreement and include exhibits or other attachments to this Agreement.
All terms defined in this Agreement shall have the defined meanings when used in any certificate or other document made or delivered
pursuant hereto unless otherwise defined therein. The definitions contained in this Agreement are applicable to the singular as
well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such term. Any agreement,
instrument or statute defined or referred to herein or in any agreement or instrument that is referred to herein means such agreement,
instrument or statute as from time to time amended, modified or supplemented, including (in the case of agreements or instruments)
by waiver or consent and (in the case of statutes) by succession of comparable successor statutes and references to all attachments
thereto and instruments incorporated therein. References to a Person are also to its permitted successors and assigns. The Parties
have participated jointly in the negotiation and drafting of this Agreement with the assistance of counsel and other advisors
and, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted
by the Parties and no presumption or burden of proof shall arise favoring or disfavoring either Party by virtue of the authorship
of any provision of this Agreement or interim drafts of this Agreement. Unless specifically stated herein that a particular provision
of this Agreement should be given effect in lieu of a conflicting provision in the Transaction Agreement, to the extent that any
provision contained in the Transaction Agreement conflicts with, or cannot logically be read in accordance with, any provision
of this Agreement, the provision contained in the Transaction Agreement shall prevail.

 

     9

     

    

 

Article
II

LICENSE GRANT

 

Section
2.01 Grant from GE to Company.

 

(a)              
Subject to the terms and conditions of this Agreement, GE hereby grants and agrees
to grant, and shall cause its Affiliates to grant and agree to grant, to Company and its Affiliates a non-exclusive, irrevocable,
royalty-free, fully paid-up, worldwide, non-sublicensable, non-transferable (except as provided in Section 6.01), perpetual (except
as provided in Section 4.02) right and license to allow employees, directors and officers of Company or any of its Affiliates
to (i) Use the GE Intellectual Property solely within the Company Field and (ii) Use any GE Specific Fields Intellectual Property
solely in the manner and within the field in which such Intellectual Property is Used or Held for Use by Company or the applicable
Affiliate as of the Signing Date; provided, however, as a condition to having any product or service made by any
third party pursuant to the foregoing sentence, Company and its Affiliates will obtain a written agreement from such third party
in form and substance reasonably satisfactory to GE: (A) with confidentiality undertakings that are no less restrictive than those
contained in this Agreement; and (B) that provides that such third party will make such products or services only on behalf of
and at the direction of Company and its Affiliates. For the avoidance of doubt, except as permitted under Section 2.01(a)(ii),
nothing in this Agreement grants the Company or its Affiliates any rights to Use any GE Existing IP or GE Future IP directed to
any of the GE Specific Fields except as expressly provided for in Exhibit F.

 

(b)              
Subject to the terms and conditions of Article V, Company and its Affiliates may permit
their suppliers, contractors, distributors and consultants to exercise any or all of the rights and licenses granted to Company
and its Affiliates under Section 2.01(a) on behalf of and at the direction of Company and its Affiliates (and not for the benefit
of such suppliers, contractors and consultants).

 

(c)              
Subject to the terms and conditions of this Agreement, notwithstanding the license
granted in Section 2.01(a), GE hereby grants and agrees to grant, and shall cause its Affiliates to grant and agree to grant,
to Company and its Affiliates an irrevocable, royalty-free, fully paid-up, worldwide, non-transferable (except as provided in
Section 6.01) right and license to allow employees, directors and officers of Company or any of its Affiliates (i) to practice
the Shared Patents solely within the Company Field and (ii) (A) to sublicense the Shared Patents to customers and vendors of the
Company and any of its Affiliates as necessary to commercialize Company’s or any of its Affiliate’s products and services
and (B) to sublicense in all fields of use other than the GE Field. The foregoing license granted within the Company Field shall
be exclusive except with respect to GE and its Affiliates. For the avoidance of doubt, each of GE and its Affiliates retain the
right to use the Shared Patents in all fields of use, with (A) rights to sublicense to customers and vendors of GE and any of
its Affiliates as necessary to commercialize GE’s or any of its Affiliate’s products and services and (B) full rights
to sublicense in all fields of use other than the Company Field.

 

     10

     

    

 

(d)              
Subject to the terms and conditions of this Agreement, notwithstanding the license
granted in Section 2.01(a), GE hereby grants and agrees to grant, and shall cause its Affiliates to grant and agree to grant,
to the Company and its Affiliates a non-exclusive irrevocable, royalty-free, fully paid-up, worldwide, non-transferable (except
as provided in Section 6.01) right and license to allow employees, directors and officers of Company or any of its Affiliates
to (i) Use the Transportation Dockets in all fields of use and (ii) sublicense the Transportation Dockets in the Company Field
to customers and vendors of Company and any of its Affiliates as necessary to commercialize Company’s or any of its Affiliate’s
products and services.

 

(e)              
 Subject to the terms and conditions of this Agreement, notwithstanding the license
granted in Section 2.01(a), GE hereby grants and agrees to grant, and shall cause its Affiliates to grant and agree to grant,
to Company and its Affiliates an irrevocable, royalty-free, fully paid-up, worldwide, non-transferable (except as provided in
Section 6.01) right and license to allow employees, directors and officers of Company or any of its Affiliates to (i) Use the
Horizontal Dockets in all fields of use (it being understood that the foregoing license shall be exclusive in the Company Field
and non-exclusive in all other fields of use) and (ii) sublicense the Horizontal Dockets in the Company Field to customers and
vendors of Company and any of its Affiliates as necessary to commercialize Company’s or any of its Affiliate’s products
and services.

 

Section
2.02 Grant from Company to GE and its Affiliates.

 

(a)              
Subject to the terms and conditions of this Agreement, Company hereby grants and agrees
to grant, and shall cause its Affiliates to grant and agree to grant, to GE and its Affiliates a non-exclusive, irrevocable, royalty-free,
fully paid-up, worldwide, non-sublicensable, non-transferable (except as provided in Section 6.01), perpetual (except as provided
in Section 4.02) right and license to allow employees, directors and officers of GE or any of its Affiliates to: (i) Use the Company
Intellectual Property solely within the GE Field; and (ii) Use the Company Specific Fields Intellectual Property solely in the
manner and within the field in which such Intellectual Property is Used or Held for Use by GE or the applicable Affiliate as of
the Signing Date; provided, however, as a condition to having any product or service made by any third party pursuant
to the foregoing sentence, GE and its Affiliates will obtain a written agreement from such third party in form and substance reasonably
satisfactory to the Company: (A) with confidentiality undertakings that are no less restrictive than those contained in this Agreement;
and (B) that provides that such third party will make such products or services only on behalf of and at the direction of GE and
its Affiliates. For the avoidance of doubt, except as permitted under Section 2.02(a)(ii), Section 2.02(c) or Section 2.02(d),
nothing in this Agreement grants GE or its Affiliates any rights to Use any Company Existing IP or Company Future IP directed
to any of the GE Specific Fields except as expressly provided for in Exhibit F.

 

(b)              
Subject to the terms and conditions of Article V, GE and its Affiliates may permit
their suppliers, contractors, distributors and consultants to exercise any or all of the rights and licenses granted to GE and
its Affiliates under Section 2.02(a) on behalf of and at the direction of GE and its Affiliates (and not for the benefit of such
suppliers, contractors and consultants).

 

     11

     

    

 

(c)              
Subject to the terms and conditions of this Agreement, notwithstanding the license
granted in Section 2.02(a), Company hereby grants and agrees to grant, and shall cause its Affiliates to grant and agree to grant,
to GE and its Affiliates a non-exclusive, irrevocable, royalty-free, fully paid-up, worldwide, non-transferable (except as provided
in Section 6.01) right and license to allow employees, directors and officers of GE or any of its Affiliates to Use the Transferred
Patents in all fields of use. The foregoing license grant includes the right to sublicense to customers and vendors of GE and
any of its Affiliates to commercialize GE’s or any of its Affiliate’s products and services.

 

(d)              
Subject to the terms and conditions of this Agreement, notwithstanding the license
granted in Section 2.02(a), Company hereby grants and agrees to grant, and shall cause its Affiliates to grant and agree to grant,
to GE, its Affiliates and GE Digital LLC an irrevocable, royalty-free, fully paid-up, worldwide, non-transferable (except as provided
in Section 6.01) right and license to allow employees, directors and officers of GE, any of its Affiliates or GE Digital (i) to
Use the Digital Dockets in all fields of use (it being understood that the foregoing license shall be exclusive within the Digital
Field, other than with respect to Company and its Affiliates, and non-exclusive for all other fields of use) and (ii) sublicense
the Digital Dockets in the Digital Field to customers and vendors of GE Digital, GE and any of GE’s Affiliates as necessary
to commercialize GE Digital’s, GE or any of GE’s Affiliate’s products and services.

 

(e)              
Subject to the terms and conditions of this Agreement, notwithstanding the license
granted in Section 2.02(a), Company hereby grants and agrees to grant, and shall cause its Affiliates to grant and agree to grant,
to GE and its Affiliates an irrevocable, royalty-free, fully paid-up, worldwide, non-transferable (except as provided in Section
6.01) right and license to allow employees, directors and officers of GE or any of its Affiliates (i) to Use the Power Dockets
in all fields of use (it being understood that the foregoing license shall be exclusive within the Power Field, other than with
respect to Company and its Affiliates, and non-exclusive for all other fields of use) and (ii) to sublicense the Power Dockets
in the Power Field to customers and vendors of GE Power and any of its Affiliates as necessary to commercialize GE Power’s
or any of its Affiliate’s products and services.

 

Section
2.03 Third Party Licenses. To the
extent that any Intellectual Property licensed under Sections 2.01 or 2.02 is owned by a third party, the license of such Intellectual
Property under this Agreement shall be subject to all of the terms and conditions of the relevant agreement with such third party
pursuant to which such Intellectual Property has been licensed to the GE or the Company, as applicable.

 

Section
2.04 Improvements. As between the
Parties, and unless otherwise agreed to by the Parties, Improvements made after the Closing Date and all Intellectual Property
rights therein shall be owned by the Party making such Improvement. For the avoidance of doubt, neither Party shall own any Intellectual
Property rights licensed to such Party hereunder.

 

Section
2.05 Section 365(n) of the Bankruptcy Code.
All rights and licenses granted under this Agreement are, and shall otherwise be deemed to be, for purposes of Section 365(n)
of the United States Bankruptcy Code (the “Bankruptcy Code”), licenses of rights to “intellectual property”
as defined under Section 101(35A) of the Bankruptcy Code. The Parties shall retain and may fully exercise all of their respective
rights and elections under the Bankruptcy Code.

 

     12

     

    

 

Section
2.06 Customers. Each Party agrees
that it shall use reasonable efforts to not knowingly bring any legal action or proceeding against, or otherwise communicate with,
any customer of the other Party with respect to any alleged infringement, misappropriation or violation of any Intellectual Property
of such Party to the extent licensed hereunder based on such customer’s use of the other Party’s products or services
without first providing the other Party written notice of such alleged infringement, misappropriation or violation.

 

Section
2.07 Reservation of Rights.

 

(a)              
All rights not expressly granted by a Party hereunder are reserved by such Party.
Without limiting the generality of the foregoing, the Parties expressly acknowledge that nothing contained herein shall be construed
or interpreted as a grant, by implication or otherwise, of any licenses other than the licenses expressly set forth in this Article
II. The licenses granted in Sections 2.01 and 2.02 are subject to, and limited by, any and all licenses, rights, limitations and
restrictions with respect to, as applicable, the GE Intellectual Property, GE Specific Fields Intellectual Property, Company Specific
Fields Intellectual Property and the Company Intellectual Property previously granted to or otherwise obtained by any third party
that are in effect as of the Closing or, with respect to the Shared Patents, Digital Dockets, Transportation Dockets, Power Dockets,
Horizontal Dockets and the Transferred Patents, the date hereof. For the avoidance of doubt, except as permitted under Section
2.01(a)(ii), Section 2.01(c)-(e), Section 2.02(a)(ii) and Section 2.02(c)-(e), the Company shall not, and shall cause its Affiliates
to not, Use the GE Intellectual Property, or the Shared Patents in the GE Field and GE shall not, and shall cause its Affiliates
to not, Use the Company Intellectual Property in the Company Field.

 

(b)              
The Company agrees that, as between the Parties, except for those rights expressly
granted to the Company under this Agreement, all worldwide right, title and interest in and to the GE Intellectual Property, the
Shared Patents, Transportation Dockets, Horizontal Dockets and GE Specific Fields Intellectual Property, including the right to
claim priority therein, are and shall remain the exclusive property of GE. GE agrees that, as between the Parties, except for
those rights expressly granted to GE under this Agreement, all worldwide right, title and interest in and to the Company Intellectual
Property, the Transferred Patents, Digital Dockets, Power Dockets and Company Specific Fields Intellectual Property, including
the right to claim priority therein, are and shall remain the exclusive property of the Company.

 

(c)              
Except as expressly contemplated in any of the other Long-Term Ancillary Agreements,
the Parties acknowledge and agree that the licenses granted herein to the Company do not extend to, or grant rights under, any
other Intellectual Property that is licensed or otherwise provided to the Company and/or its Affiliates pursuant to any of the
other Long-Term Ancillary Agreements and any additional agreements entered into thereunder, including the GE Digital Master Products
and Services Agreement. The Company’s and/or its Affiliates’ (as applicable) rights and obligations with respect to
Intellectual Property licensed or otherwise provided to the Company and/or its Affiliates under any of the other Long-Term Ancillary
Agreements are dictated solely by the terms and conditions of such Long-Term Ancillary Agreement(s) under which such Intellectual
Property is specifically licensed.

 

     13

     

    

 

(d)              
This Agreement shall not grant (i) to the Company or any of its Affiliates any right
or license to any GE Intellectual Property, GE Specific Fields Intellectual Property, Shared Patents, Transportation Dockets,
Horizontal Dockets or Software owned by, or licensed to, GE Digital LLC or (ii) to GE Digital LLC any right or license to any
Company Intellectual Property, Transferred Patents, Power Dockets or Software owned by, or licensed to, the Company. Any such
Intellectual Property and Software is licensed solely pursuant to the Amended and Restated GE Digital Master Products and Services
Agreement, entered into by and between GE Digital LLC and Baker Hughes, a GE company, LLC dated as of the date hereof.

 

Section
2.08 Access. For the avoidance of
doubt, nothing in this Agreement shall be interpreted as requiring either Party (i) to transfer to the other Party or (ii) to
grant to the other Party access to, in each case of (i) and (ii), technological embodiments (including Software) of, or know-how
or Confidential Information related to GE Intellectual Property, GE Specific Fields Intellectual Property, Shared Patents, Transportation
Dockets, Horizontal Docket, Company Specific Fields Intellectual Property, Company Intellectual Property, Digital Dockets, Power
Dockets or Transferred Patents, as the case may be. Any transfer or grant of access by either Party to such technological embodiments,
know-how and Confidential Information shall be made solely pursuant to the terms of the Intercompany Services Agreement.

 

Article
III

COVENANTS

 

Section
3.01 Further Assistance. Each Party
hereby covenants and agrees that it shall, at the request and expense of the other Party, use commercially reasonable efforts
to assist the other Party in its efforts to obtain any third-party consent, approval or waiver necessary to enable such other
Party to obtain a license to any Intellectual Property that, that (i) as of July 3, 2017 for the Intellectual Property licensed
pursuant to Section 2.01(a) and Section 2.02(a) and as of the date of this Agreement for purposes of the Intellectual Property
licensed pursuant to Section 2.01(c) and Section 2.02(c) and (ii) but for the requirements set forth in Section 2.03, would be
the subject of a license granted pursuant to Section 2.01 or 2.02 hereunder, including by using all reasonable efforts to take,
or cause to be taken, all appropriate action, do or cause to be done all things necessary, proper or advisable under applicable
Laws and execute and deliver such documents and other papers, including powers of attorney, as may be required to carry out the
provisions of this Agreement and consummate and make effective the transactions contemplated by this Agreement; provided, however,
that such Party shall not be required to seek broader rights or more favorable terms for the other Party than those applicable
to such Party prior to the date hereof or as may be applicable to such Party from time to time thereafter. The Parties acknowledge
and agree that there can be no assurance that such Party’s efforts will be successful or that the other Party will be able
to obtain such licenses or rights on acceptable terms or at all.

 

Section
3.02 Ownership. No Party shall represent
that it has any ownership interest in any Intellectual Property of the other Party licensed hereunder.

 

     14

     

    

 

Section
3.03 Prosecution and Maintenance.
Each Party retains the sole right to protect the Intellectual Property owned by such Party at such Party’s sole discretion,
including deciding whether and how to file and prosecute applications to register Software, patents, copyrights (including in
Software) and mask work rights included in such Intellectual Property, whether to abandon prosecution of such applications and
whether to discontinue payment of any maintenance or renewal fees with respect to any patents.

 

Section
3.04 Third Party Infringements, Misappropriations and Violations.

 

(a)              
(1) The Company shall promptly notify GE and (2) GE shall promptly notify the Company,
in each case of (1) and (2), in writing of any actual or possible material infringement, misappropriation or other violation by
a third party of any Intellectual Property of the second Party being licensed hereunder that comes to the first Party’s
attention that is in the case of (1) within the GE Field and in the case of (2) within the Company Field. Such first Party shall
also promptly notify such second Party of the identity of such third party and any evidence of such infringement, misappropriation
or other violation within such first Party’s custody or control that such first Party is reasonably able to provide. Except
as set forth in Section 2.06, the second Party shall have the sole right to determine whether any action shall be taken in response
to such infringements, misappropriations or other violations at such second Party’s sole discretion.

 

(b)              
Each licensee Party shall promptly notify the licensor Party in writing upon learning
of the existence or possible existence of rights held by any third party that may be infringed, misappropriated or otherwise violated
by the Use of the Intellectual Property of such licensor Party (or any element or portion thereof) licensed hereunder to such
licensee Party, as well as the identity of such third party and, if applicable, any evidence relating to such purported infringement,
misappropriation or other violation within such licensee Party’s custody or control that such licensee Party is reasonably
able to provide. Such licensee Party shall cooperate fully with the licensor Party to avoid such existing or possibly existing
infringement, misappropriation or violation, and, if applicable, shall discontinue the Use of such Intellectual Property that
is the subject of such purported infringement, misappropriation or other violation upon the reasonable request of the licensor
Party to discontinue such Use of such Intellectual Property.

 

(c)              
Each licensor Party shall promptly notify the licensee Party in writing upon learning
of the existence or possible existence of rights held by any third party that may be infringed, misappropriated or otherwise violated
by the Use of the Intellectual Property of such licensor Party (or any element or portion thereof) licensed hereunder to such
licensee Party, as well as the identity of such third party, and, if applicable, any evidence relating to such purported infringement,
misappropriation or other violation within such licensor Party’s custody or control that such licensor Party is reasonably
able to provide. The licensee Party shall cooperate fully with such licensor Party to avoid such existing or possibly existing
infringement, misappropriation or violation, and shall discontinue the Use of such Intellectual Property that is the subject of
such purported infringement, misappropriation or other violation upon the reasonable request of such licensor Party to discontinue
such Use of such Intellectual Property, and shall provide such licensor Party any evidence relating to such purported infringement,
misappropriation or other violation within the licensee Party’s custody or control.

 

     15

     

    

 

Section
3.05 Cooperation Regarding Restrictions and Limitations Applicable to Licensed
Intellectual Property. Each Party, at the request of the other Party, agrees to use
commercially reasonable, good-faith efforts to provide such other Party such copies of agreements (subject to any confidentiality
restrictions that would prevent disclosure of such agreements) or other information (including summaries of the applicable limitations)
that are sufficient to inform such other Party about any limitations or restrictions on the Use of the Intellectual Property licensed
to it hereunder, as applicable, or other specific Intellectual Property licensed hereunder and identified by such other Party
in writing to such Party, which has not already been provided to such other Party and which is not otherwise in the possession
of such other Party. Such Party shall not have any liability to such other Party resulting or arising from the failure or inability
to provide such agreements or information.

 

Section
3.06 Audit. Not more than once per year, upon thirty (30) days’
advanced written notice, each licensor Party may audit (or cause an independent third party auditor to audit), during regular
business hours and in a manner that complies with the building and security requirements of the licensee Party, the books, records
and facilities of the licensee Party to the extent reasonably necessary to determine such licensee Party’s compliance with
this Agreement. Any audit conducted under this Section 3.06 shall not interfere unreasonably with the operations of such licensee
Party. The licensor Party requesting the audit shall pay the costs of conducting such audit. All information learned or obtained
from such audit shall be deemed Confidential Information for purposes of this Agreement. 

 

Article
IV

TERM AND TERMINATION

 

Section
4.01 Term. This Agreement shall remain
in full force and effect in perpetuity unless terminated in accordance with its terms.

 

Section
4.02 Trigger Date Termination. Upon (i) the Trigger Date (as defined in the Stockholders Agreement), (ii) the
first date in which Company or its Affiliates sells primarily all of the assets of the Company and its Affiliates to a third party
or (iii) the first date on which the Company ceases to conduct business, in each case of (i)-(iii), this Agreement shall terminate;
provided that the respective licenses of GE Intellectual Property, GE Specific Fields Intellectual Property, Company Intellectual
Property, Shared Patents, Transferred Patents, Transportation Dockets, Digital Dockets, Power Dockets, Horizontal Dockets or Company
Specific Fields Intellectual Property, as applicable, shall remain in effect, subject to Section 4.04, solely for such Intellectual
Property that (A) is actually in Use, or Held for Use as of the Trigger Date or the consummation of an applicable asset sale transaction
or (B) was Used by GE O&G in the five (5) years prior to July 3, 2017.  For the avoidance of doubt, any obligation to
license GE Future IP and Company Future IP that, as of the Trigger Date or the consummation of an applicable asset sale transaction,
are not actually in Use, or are not Held for Use by a licensee Party, shall terminate as of the date of such termination.

 

Section
4.03 No Other Termination. Except
as set forth in Section 4.02, this Agreement may only be terminated upon the mutual written agreement of the Parties. In the event
of a Party’s breach of this Agreement, the sole and exclusive remedy of the non-breaching Party shall be to recover monetary
damages and/or to obtain injunctive or equitable relief in accordance with Section 6.05.

 

     16

     

    

 

Section
4.04 Termination of Channels. Upon
the termination of any Channel (as that term is defined in the Channel Agreement) pursuant to the terms of the Channel Agreement,
the respective licenses to any GE Intellectual Property or Company Intellectual Property, as applicable, Used or Held for Use
by the Company or GE, respectively, in connection with such Channel shall remain in effect solely in the manner and within the
field permitted for such Channel as would have been permitted under the Channel Agreement in which such Intellectual Property
is Used or Held for Use as of such date of termination. For the avoidance of doubt, any obligation to license GE Future IP and
Company Future IP that, as of the date of termination of a Channel, are not actually in Use, or are not Held for Use by a licensee
Party in connection with such Channel, shall terminate as of the date of such termination.

 

Section
4.05 Survival. The rights and obligations
of the Parties set forth in Article I, Article V, Article VI, Section 4.02, Section 4.04 and Section 4.05, and any right, obligation
or required performance of the Parties which, by its express terms or nature and context is intended to survive termination or
expiration of this Agreement, shall survive any such termination or expiration of this Agreement.

 

Article
V

CONFIDENTIALITY

 

Section
5.01 Confidential Information. The
provisions of this Article V shall apply to any confidential or proprietary information or materials included in the GE Intellectual
Property, GE Specific Fields Intellectual Property, Company Specific Fields Intellectual Property, Company Intellectual Property,
Shared Patents, Transportation Dockets, Horizontal Dockets, Digital Dockets, Power Dockets or Transferred Patents licensed pursuant
to this Agreement (“Confidential Information”). Each Party (the “Receiving Party”) shall keep all Confidential
Information of the other Party (the “Disclosing Party”) that is or becomes available to the Receiving Party confidential
and shall not disclose any such Confidential Information to any third party (other than its Representatives who have a “need-to-know”
such Confidential Information and are authorized to receive such Confidential Information pursuant to Article II) without the
prior written consent of the Disclosing Party. The Receiving Party shall exercise at least the same degree of care to safeguard
the confidentiality of the Disclosing Party’s Confidential Information as it does to safeguard its own proprietary or confidential
information of equal importance, but not less than a reasonable degree of care.

 

Section
5.02 Exclusions. The confidentiality
obligations in this Article V shall not apply to any Confidential Information which:

 

(a)              
is or becomes generally available to and known by the public (other than as a result
of a non-permitted disclosure or other wrongful act or failure to act directly or indirectly by the Receiving Party),

 

(b)              
is or becomes available to the Receiving Party on a non-confidential basis from a
source other than the Disclosing Party; provided that the Receiving Party has no knowledge that such source was at the
time of disclosure to the Receiving Party bound by a confidentiality agreement with the Disclosing Party or other obligation of
secrecy which was breached by the disclosure,

 

     17

     

    

 

(c)              
has been or is hereafter independently acquired or developed by the Receiving Party
without reference to such Confidential Information and without otherwise violating any confidentiality agreement with or other
obligation of secrecy to the Disclosing Party,

 

(d)              
was in the possession of the Receiving Party at the time of disclosure by the Disclosing
Party without restriction as to confidentiality, or

 

(e)              
is required (by oral question, interrogatories, requests for information or documents,
subpoena, civil investigative demand or similar process) to be disclosed by any Governmental Entity or pursuant to applicable
Law; provided that the Receiving Party: (i) uses all reasonable efforts to provide the Disclosing Party with written notice
of such request or demand as promptly as practicable under the circumstances so that the Disclosing Party shall have an opportunity
to seek an appropriate protective order or other appropriate remedy; (ii) furnishes only that portion of the Confidential Information
which is in the opinion of the Receiving Party’s counsel legally required; and (iii) takes, and causes its Representatives
to take, all other reasonable steps necessary to obtain confidential treatment for any such Confidential Information required
to be furnished.

 

Section
5.03 Confidentiality Obligations.
The Receiving Party shall ensure, by instruction, contract or otherwise with its Representatives that such Representatives comply
with the provisions of this Article V. The Receiving Party shall indemnify and hold harmless the Disclosing Party in the event
of any breach by the Receiving Party’s Representatives of this Article V. The Receiving Party shall promptly notify the
Disclosing Party in the event that the Receiving Party learns of any unauthorized use or disclosure of such Confidential Information
by it or its Representatives and shall promptly take all actions necessary to correct and prevent such use or disclosure.

 

Article
VI

GENERAL PROVISIONS

 

Section
6.01 Assignment.

 

(a)              
This Agreement shall not be assignable, in whole or in part, by any Party to any third
party, including Affiliates of any Party, without the prior written consent of the other Party, and any attempted assignment without
such consent shall be null and void. Notwithstanding the foregoing, this Agreement may be assigned by any Party as follows without
obtaining the prior written consent of the other Party:

 

(i)                
GE, in its sole discretion, may assign this Agreement, and any or all of its rights
under this Agreement, and may delegate any or all of its duties under this Agreement to any Affiliate of GE at any time;

 

     18

     

    

 

(ii)             
Company, in its sole discretion, may assign this Agreement, and any or all of its
rights under this Agreement, and may delegate any or all of its duties under this Agreement to any Affiliate of Company at any
time; and

 

(iii)           
Subject to Section 4.02, either Party may assign any or all of its rights or delegate
any or all of its duties under this Agreement to: (1) an acquirer of all or substantially all of the equity or assets of the business
of each Party to which this Agreement relates; (2) an acquirer of any portion of the business of such Party to which this Agreement
relates; or (3) the surviving entity in any merger, consolidation, equity exchange, reorganization or other comparable transaction
involving such Party; provided, that in the case of any assignment of this Agreement, in whole or in part, in connection
with (1)-(3): (A) a Party’s rights and obligations under this Agreement may be assigned without requiring the assignee to
assume the obligations set forth in Sections 2.06, 3.01 and 3.04, or the obligations set forth in Section 3.05 (which do not apply
to an assignee); (B) the licenses granted to the assigning Party under this Agreement may only be assigned by such assigning Party
with respect to Intellectual Property that is actually in Use or Held for Use in connection with the portion of the business being
sold by the assigning Party as of one-hundred and fifty (150) days prior to the date that such an assignment is entered into or,
in the case of (3), such a transaction is consummated, as applicable; (C) (x) the assignee shall not be obligated to grant GE
or any of its Affiliates a license under any Company Future IP of such assignee and its Affiliates that is created or developed
after the date of such assignment or transaction, as applicable and (y) GE shall not be obligated to grant to the assignee or
any of its Affiliates a license under any GE Future IP that is created or developed after the date of such assignment or transaction,
as applicable; and (D) such acquirer or surviving entity, as the case may be, executes an agreement in form and substance reasonably
satisfactory to the other Party to be bound by the obligations of such Party, as applicable, under this Agreement and a copy of
such assumption agreement is provided to such other Party in advance of any such assignment, or in the case of (3), the consummation
of such transaction, as applicable.

 

(b)              
This Agreement shall be binding upon and inure to the benefit of and be enforceable
by the Parties and their successors, legal representatives and permitted assigns. All license rights and covenants contained herein
shall run with all Intellectual Property of the Parties licensed hereunder and shall be binding on any successors-in-interest
or assigns thereof.

 

Section
6.02 Representations and Warranties; Disclaimer of Warranties.

 

(a)              
GE represents and warrants that, as of the date hereof and to the knowledge of Buckmaster
de Wolf and Cecilia Vega without any duty of inquiry, Company has not violated any of its obligations under the Original Intellectual
Property Cross License Agreement not to use GE’s or any of its Affiliates’ Intellectual Property that is directed
to the IIOT Enabling Field.

 

(b)              
Except for any patents or applications that GE no longer owns as of the date hereof
and the Transportation Patent Family (as that term is defined in the Side Letter), GE represents and warrants that, as of the
date hereof and to its knowledge, Exhibit J and Exhibit K list all patents and patent applications which were transferred to GE
to effectuate the transaction contemplated by the Transaction Agreement and Plan of Merger and for which GE O&G had been previously
designated as the Responsible Business in PAGE (whether or not currently in Use by BHGE).

 

     19

     

    

 

(c)              
NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, THE INTELLECTUAL PROPERTY LICENSED
BY THE PARTIES PURSUANT TO THIS AGREEMENT IS FURNISHED “AS IS”, WITH ALL FAULTS AND WITHOUT WARRANTY OF ANY KIND,
EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR ANY PARTICULAR PURPOSE, TITLE,
NON- INFRINGEMENT, QUALITY, USEFULNESS, COMMERCIAL UTILITY, ADEQUACY, COMPLIANCE WITH ANY LAW, DOMESTIC OR FOREIGN, AND IMPLIED
WARRANTIES ARISING FROM COURSE OF DEALING OR COURSE OF PERFORMANCE OR THE VALIDITY OF SUCH INTELLECTUAL PROPERTY. WITHOUT LIMITING
THE FOREGOING, EXCEPT FOR CLAIMS ARISING FROM FRAUD, WILLFUL MISCONDUCT ON THE PART OF A PARTY OR A BREACH OF ARTICLE V BY A PARTY,
NEITHER PARTY SHALL HAVE ANY LIABILITY WHATSOEVER TO THE OTHER PARTY OR ANY OTHER PERSON FOR OR ON ACCOUNT OF ANY INJURY, LOSS,
OR DAMAGE, OF ANY KIND OR NATURE, SUSTAINED BY, OR ANY DAMAGE ASSESSED OR ASSERTED AGAINST, OR ANY OTHER LIABILITY INCURRED BY
OR IMPOSED ON SUCH OTHER PARTY OR ANY OTHER PERSON, INCLUDING ANY SUCH LIABILITY ARISING OUT OF OR IN CONNECTION WITH OR RESULTING
FROM (A) THE MANUFACTURE, USE, OFFER FOR SALE, SALE, OR IMPORT OF ANY PRODUCTS OR THE PRACTICE OF THE INTELLECTUAL PROPERTY LICENSED
HEREUNDER; (B) THE USE OF OR ANY ERRORS OR OMISSIONS IN ANY SUCH INTELLECTUAL PROPERTY; OR (C) ANY ADVERTISING OR OTHER PROMOTIONAL
ACTIVITIES CONCERNING ANY OF THE FOREGOING.

 

Section
6.03 Consequential and Other Damages.
NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY FOR ANY SPECIAL, INDIRECT, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES (PROVIDED
THAT ANY SUCH LIABILITY WITH RESPECT TO A THIRD-PARTY CLAIM SHALL BE CONSIDERED DIRECT DAMAGES) OF THE OTHER PARTY ARISING IN
CONNECTION WITH THIS AGREEMENT, WHETHER ARISING FROM BREACH OF CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY OR OTHERWISE AND REGARDLESS
OF WHETHER SUCH DAMAGES WERE FORESEEABLE OR THE PARTY AGAINST WHOM SUCH LIABILITY IS CLAIMED HAS BEEN ADVISED OF THE POSSIBILITY
OF SUCH DAMAGES.

 

Section
6.04 Assumption of Risk.

 

(a)              
Company, on behalf of itself and its Affiliates, hereby assumes all risk and liability
in connection with Company’s and its Affiliates’ Use of the GE Intellectual Property, Shared Patents, Transportation
Dockets, Horizontal Dockets and the GE Specific Fields Intellectual Property.

 

(b)              
GE, on behalf of itself and its Affiliates, hereby assumes all risk and liability
in connection with GE’s and its Affiliates’ Use of the Company Intellectual Property, Transferred Patents, Digital
Dockets, Power Dockets and the Company Specific Fields Intellectual Property.

 

     20

     

    

 

Section
6.05 Governing Law; Submission to Jurisdiction; Specific Performance.

 

(a)              
This Agreement shall be governed by and construed and interpreted in accordance with
the Laws of the State of New York irrespective of the choice of laws principles of the State of New York other than Section 5-1401
of the General Obligations Law of the State of New York. The Parties consent specifically to the personal and exclusive jurisdiction
of any state or federal court having subject matter jurisdiction in the County of New York, State of New York for any action or
proceeding to enforce any award of the arbitrators pursuant to Section 6.12 or the provisions set forth in Section 6.12, and any
action for injunctive relief, and irrevocably waive their right to contest venue in any such courts. Each of the Parties agrees
that a judgment in any such action may be enforced in other jurisdictions by suit on the judgment or in any other manner provided
by law. The successful Party in any action seeking enforcement of this Agreement shall be entitled to an award of all costs, fees
and expenses, including reasonable attorneys’ fees, to be paid by the other Party.

 

(b)              
The Parties 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
6.06 Notices. All notices, requests,
claims, demands and other communications under this Agreement shall be in writing or electronic mail and shall be given or made
(and shall be deemed to have been duly given or made upon receipt) by electronic delivery with receipt confirmed, delivery in
person, by overnight courier service, by facsimile with receipt confirmed (followed by delivery of an original via overnight courier
service) or by registered or certified mail (postage prepaid, return receipt requested) to the respective Parties at the following
addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this Section 6.06):

 

If to GE and its Affiliates,
to:

 

     21

     

    

 

General Electric Company

33-41 Farnsworth Street

Boston, Massachusetts 02210

	Attention:	James M. Waterbury
	Telephone:	(617) 443-3030
	Facsimile:	(617) 428-8402
	Email:	jim.waterbury@ge.com

 

If to Company 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

 

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

 

Baker Hughes, a GE
company, LLC

14490 Yorktown Plaza
Dr.

Houston, Texas 77040

	Attention:  	Al Riddle
	Telephone:  	(281) 231-3091
	Email:  	al.riddle@bhge.com

 

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

 

Section
6.08 Entire Agreement. This Agreement
constitutes the entire agreement of the Parties with respect to the subject matter of this Agreement and supersedes all prior
agreements and undertakings, both written and oral, between or on behalf of the Parties with respect to the subject matter of
this Agreement, except the Transaction Agreement and the Long-Term Ancillary Agreements.

 

Section
6.09 No Third-Party Beneficiaries.
This Agreement is for the sole benefit of the Parties and their Affiliates, permitted sublicensees, successors and assigns, and
nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any legal or equitable right,
benefit or remedy of any nature whatsoever under or by reason of this Agreement.

 

     22

     

    

 

Section
6.10 Amendment. No provision of this
Agreement may be amended or modified except by a written instrument signed by the Parties to this Agreement. No waiver by any
Party of any provision hereof shall be effective unless explicitly set forth in writing and executed by the Party so waiving.
The waiver by either Party of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any
other subsequent breach.

 

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

 

Section
6.12 Dispute Resolution. Any dispute,
controversy or claim arising out of or relating to this Agreement or the validity, interpretation, breach or termination of any
provision of this Agreement (“Dispute”) shall be resolved in accordance with Exhibit A.

 

Section
6.13 No Waiver. Failure by either
Party at any time to enforce or require strict compliance with any provision of this Agreement shall not affect or impair that
provision in any way or the rights of such Party to avail itself of the remedies it may have in respect of any subsequent breach
of that or any other provision. The waiver of any term, condition or provision of this Agreement must be in writing and signed
by an authorized representative of the waiving Party. Any such waiver shall not be construed as a waiver of any other term, condition
or provision, nor as a waiver of any subsequent breach of the same term, condition or provision, except as provided in a signed
writing.

 

Section
6.14 Relationship of the Parties.
Subject to Section 3.01, nothing contained herein is intended or shall be deemed to make any Party the agent, employee, partner
or joint venturer of the other Party or be deemed to provide such Party with the power or authority to act on behalf of the other
Party or to bind the other Party to any contract, agreement or arrangement with any other individual or entity.

 

[The remainder
of this page has been intentionally left blank.]

 

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

 

 

	 	GENERAL ELECTRIC COMPANY
	 	 
	 	 
	 	By: 	/s/ James M. Waterbury
	 	 	Name:	James M. Waterbury
	 	 	Title:	Vice President 

 

 

 

	 	BAKER HUGHES, A GE COMPANY, LLC

        

	 	 
	 	 
	 	By: 	/s/ Lee Whitley
	 	 	Name:	Lee Whitley
	 	 	Title:	Corporate Secretary

 

 

 

 

     24

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