SEC Contract Filing

Filing Date: 2023-02-10

Document Content:
<DOCUMENT>
<TYPE>EX-10.N
<SEQUENCE>14
<FILENAME>a10n_geenergyexcessbenefit.htm
<DESCRIPTION>EX-10.N
<TEXT>
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<title>Document</title></head><body><div id="i6f2bb9fa6f64496790ec66125305f1c3_1"></div><div style="min-height:77.76pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Exhibit 10(n)</font></div><div style="padding-left:216pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:100%">GE Energy Excess Benefits Plan<br>Effective January 1, 2023</font></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Section I.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:100%;padding-left:18.69pt"><br>Eligibility</font></div><div><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Effective January 1, 2023 in anticipation of General Electric Company&#8217;s split into three separate companies comprising General Electric Company&#8217;s aviation, healthcare, and energy businesses, respectively, the benefits and liabilities under the GE Excess Benefits Plan (renamed the GE Aerospace Excess Benefits Plan) attributable to certain individuals are transferred to this Plan, as described in Appendix A. After December 31, 2022, no individual whose benefit is transferred to this Plan from the GE Excess Benefits Plan (nor any of their beneficiaries) shall accrue additional benefits, or have any rights, under, or with respect to, the GE Excess Benefits Plan (even if such individual is subsequently employed by, or has service with, the General Electric Company or the GE Affiliates), unless the individual&#8217;s benefit is transferred back to the GE Excess Benefits Plan in accordance with Appendix A. Because this Plan is a continuation of the GE Excess Benefits Plan, this document includes provisions of the GE Excess Benefits Plan that applied before January 1, 2023.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%">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.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Section II.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:100%;padding-left:15.36pt"><br>Excess Benefits</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%">1.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:26pt">The amount of the Excess Benefit payable under this Plan to an Employee, Surviving Spouse or beneficiary shall be based upon the excess (if any) of&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%">a.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:26pt">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</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%">b.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:26pt">the Pension, survivor benefit or death benefit that the Employee, Surviving Spouse or beneficiary receives under the GE Pension Plan.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%">For all periods during which this Plan is in effect and regardless of whether the Employee&#8217;s termination of Service date occurs on, before or after January 1, 2009, 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.1.a. above.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-36pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%">2.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:26pt">Consistent with established Company procedures, if an eligible Employee commences his Excess Benefits at the time set forth in Section III but remains in protected service for other purposes, his initial Excess Benefits shall be based on his service credits earned up to the commencement date of his Excess Benefits. Following the eligible Emplo