Document:

Exhibit 10(y)

Exhibit
10(y)

GE
Excess Benefits Plan      

(Effective
July 1, 2003)

Section
I.

Eligibility

All
Employees, Surviving Spouses and beneficiaries of Employees eligible to receive
Pension benefits under the GE Pension Plan shall be eligible to receive excess
benefits under this Plan in accordance with Section II.

Section
II.

Excess
Benefits

The
amount of the Excess Benefit payable under this Plan to an Employee, Surviving
Spouse or beneficiary shall be equal to the excess (if any) of:

	
      a.
	
      the
      Pension, survivor benefit or death benefit that the Employee, Surviving
      Spouse or beneficiary would have received under the GE Pension Plan as a
      result of the retirement or death of the Employee but for the limitations
      on such benefit imposed by the GE Pension Plan pursuant to Section 415 of
      the Code, over

	
      b.
	
      the
      Pension, survivor benefit or death benefit that the Employee, Surviving
      Spouse or beneficiary receives under the GE Pension
  Plan.

For all
periods during which this Plan is in effect and regardless of whether the
Employee’s termination of Service date occurs on, before or after July 1, 2003,
in no event shall an individual be entitled to receive more benefits from this
Plan and the GE Pension Plan combined than he would have been entitled to
receive from the GE Pension Plan alone without application of the limits of
Section 415 of the Code referred to in Section II.a. above.

Section
III.

Payment
of Excess Benefits

	
      1.
	
      All
      Excess Benefits provided for hereunder shall be paid in the same form and
      manner as the benefits payable to such Employee, Surviving Spouse or
      beneficiary under the GE Pension Plan.

	
      2.
	
      If
      an Employee’s Pension under the GE Pension Plan is suspended for any month
      in accordance with the re-employment provisions thereof, the Employee’s
      Excess Benefits hereunder for that month shall likewise be suspended under
      this Plan.

Section
IV.

Beneficiary

An
Employee’s beneficiary for the purposes of this Plan shall be the beneficiary
designated by him under the GE Pension Plan.

Section
V.

Administration

	
      1.
	
      This
      Plan shall be administered by the Pension Board, which shall have
      authority in its sole discretion to make, amend, interpret and enforce
      rules and regulations for the administration of this Plan and decide or
      resolve in its sole discretion any and all questions which may arise in
      connection with this Plan.

	
      2.
	
      In
      the administration of this Plan, the Pension Board may, from time to time,
      employ agents and delegate to them such administrative duties as it sees
      fit and may, from time to time, consult with counsel, including counsel to
      the Company.

	
      3.
	
      The
      decision or action of the Pension Board in respect of any question arising
      out of or in connection with the administration, interpretation and
      application of this Plan and the rules and regulations hereunder shall be
      final and conclusive and binding upon all persons having any interest in
      this Plan.

Section
VI.

Amendment
and Termination

The
Company reserves the right, by action of the General Electric Company Board of
Directors, to amend, modify or terminate, either retroactively or prospectively,
any or all of the provisions of this Plan; provided, however, that no such
action on its part shall adversely affect the rights of an Employee, his
Surviving Spouse or beneficiaries without the consent of such Employee (or his
Surviving Spouse or beneficiaries, if the Employee is deceased) with respect to
any benefits accrued under this Plan prior to the date of such amendment,
modification or termination of the Plan if the Employee has at that time a
non-forfeitable right to benefits under Section XII of the GE Pension
Plan.

Section
VII.

General
Conditions

	
      1.
	
      The
      Excess Benefits payable under this Plan shall be paid by the Company out
      of its general assets and shall not be funded in any manner. The
      obligations that the Company incurs under this Plan shall be subject to
      the claims of the Company’s other creditors having priority as to the
      Company’s assets. 

	
      2.
	
      Except
      as to withholding of any tax under the laws of the United States or any
      state or locality, no Excess Benefit payable at any time hereunder shall
      be subject in any manner to alienation, sale, transfer, assignment,
      pledge, attachment or other legal process, or encumbrance of any kind. Any
      attempt to alienate, sell, transfer, assign, pledge or otherwise encumber
      any such Excess Benefit, whether currently or thereafter payable
      hereunder, shall be void.

	
      3.
	
      No
      Employee and no other person shall have any legal or equitable rights or
      interest in this Plan that are not expressly granted in this Plan.
      Participation in this Plan does not give any person any right to be
      retained in the Service of his Employer. The right and power of the
      Company to dismiss or discharge any Employee is expressly
      reserved.

	
      4.
	
      Notwithstanding
      the provisions of Section I, employees who are represented by a union
      (pursuant to a certification by the National Labor Relations Board or
      otherwise in accordance with the provisions of Section 9 of the National
      Labor Relations Act) shall become eligible to participate in this Plan (a)
      only after the Company and such union shall have entered into a written
      agreement to the effect that the Plan shall be offered to the employees so
      represented, and (b) only in accordance with any conditions or
      requirements contained in such agreement; provided, however, that whenever
      employees who are eligible for the Plan choose a bargaining agent
      (pursuant to NLRB certification), they shall continue to be eligible
      unless and until the certified agent gives notice to the Company that it
      does not wish such eligibility to continue.

	
      5.
	
      All
      terms used in this Plan which are defined in the GE Pension Plan shall
      have the same meaning herein as therein, unless otherwise expressly
      provided in this Plan.

	
      6.
	
      The
      rights under this Plan of an Employee who leaves the Service of the
      Company at any time and the rights of anyone entitled to receive any
      payments under this Plan by reason of the death of such Employee, shall be
      governed by the provisions of this Plan in effect on the date such
      Employee leaves the Service of the Company, except as otherwise
      specifically provided in this Plan.

	
      7.
	
      The
      law of the State of New York shall govern the construction and
      administration of this Plan.Exhibit 10(z)

EXHIBIT
10(z)

GENERAL
ELECTRIC COMPANY

2002
EXECUTIVE OFFICER DEFERRED SALARY PLAN

I.
ELIGIBILITY

To
maximize the ability of General Electric Company ("Company") to obtain a federal
tax deduction for compensation to be paid to its Executive Officers in 2002,
each Executive Officer of the Company who is expected to be paid more than $1
million in base salary compensation in 2002 shall be eligible to participate in
this Plan.

II.
DEFERRAL OF SALARY

1.
Each Executive Officer eligible to participate in this Plan ("Participant")
shall be given an opportunity to irrevocably elect, prior to any deferral
hereunder:

(a)
the portion (minimum of 10%, maximum of 100%) of the

Participant's
2002 base salary to be deferred, and

(b)
the form of payout alternative as set forth in Section V.

2.
Commencing with base salary earned for January 2002, the Participant's total
base salary elected to be deferred under this Plan will be deferred in ratable
installments through the month of December 2002, and will be credited to the
Participant's deferred salary cash account ("Deferred Account") as of the end of
the month of deferral ("Deferral Date").

III.
SPECIAL ONE-TIME MATCHING MAKE-UP CREDIT

As
of December 31, 2002, a special one-time credit shall be made to the Deferred
Account of each Participant who is actively employed by the Company on such date
to make up for the matching Company payment that would otherwise have been
available under the Company's Savings and Security Program. The amount of such
credit shall equal 3.5% of the total 2002 base salary deferred under this Plan
by the Participant (excluding interest). Such credit shall not be provided for
any Participant who has terminated employment with the Company for any reason
prior to December 31, 2002, or is not actively employed on such
date.

IV.
MANNER OF ACCOUNTING

1.
Each Deferred Account shall be unfunded, unsecured and nonassignable, and shall
not be a trust for the benefit of any Participant.

2.
Except as may be otherwise provided in Section V or VIII, the Participant's
Deferred Account will be credited with (a) the amount of base salary deferred on
each Deferral Date as set forth in Section II.2., (b) the special one-time
matching make-up credit as set forth in Section III, and (c) interest at the
annual rate of 10% compounded annually on each December 31.

V.
PAYMENT OF DEFERRED ACCOUNT

1.
Payment of a Participant's Deferred Account will be made only after termination
of employment of the Participant.

2.
If no manner of payment election is made, the Deferred Account will be paid in
10 annual installments commencing on March 1 (or as soon thereafter as
practical) following the year of termination of employment.

3.
At the time of election to defer base salary, a Participant may irrevocably
elect: (a) the number of annual payout installments (minimum of 10, maximum of
20) of the Deferred Account commencing on March 1 (or as soon thereafter as
practical) following the year of termination of employment, unless (b) a lump
sum payment of the Deferred Account is elected in which case the lump sum
payment will be made on March 1 (or as soon thereafter as practical) following
the year of termination of employment.

4.
Participants who terminate their employment on or after December 31, 2002
because of retirement, death or disability, or Participants who terminate their
employment on or after December 31, 2006 for any reason, will receive payouts
based on Deferred Account accumulations at the 10% interest rate. Payments will
be made pursuant to Section V.2 or V.3 above beginning on March 1 (or as soon
thereafter as practical) following the year of termination of
employment.

5.
Unless waived by the Management Development and Compensation Committee of the
Board of Directors ("MDCC"), if the Participant terminates employment prior to
December 31, 2002 for any reason, or prior to December 31, 2006 for any reason
other than retirement, death, or disability, the Participant's Deferred Account
will be paid in a lump sum as soon as practical following the date of
termination, along with simple interest credited at an annual rate of 3% rather
than the rate specified in Section IV.

VI.
DEATH BENEFITS

In
the event of a Participant's death prior to receiving any or all payments to
which the Participant is entitled, the remaining Deferred Account shall be paid
at the time and in the manner provided in Section V to the beneficiary or
beneficiaries designated by the Participant on a beneficiary designation form
properly filed by the Participant with the Company in accordance with
established administrative procedures. If no such designated beneficiary
survives the Participant, such remaining benefits shall be paid as set forth
above to the Participant's estate.

(1)

VII.
ADMINISTRATION AND INTERPRETATION

This
Plan shall be administered by the MDCC, which shall have full power and
authority on behalf of the Company to administer and interpret the Plan in its
sole discretion. All MDCC decisions with respect to the administration and
interpretation of the Plan shall be final and binding upon all
persons.

VIII.
AMENDMENT OF THE PLAN

This
Plan may be amended, suspended or terminated at any time by the MDCC. In
addition, the MDCC may alter or amend the payout schedule of any or all of the
accrued benefits of a Participant at any time.

IX.
EFFECTIVE DATE

The
effective date of this Plan shall be January 1, 2002.

(2)

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