Exhibit 10(n)
Stock Option Grant Agreement -
additional terms & conditions
1. Grant of
Options. The Management Development and
Compensation Committee of the Board of Directors ("Committee") of
the General Electric Company ("Company") has granted Options to the
individual named in this Grant Agreement ("Grantee"). Each Option
entitles the Grantee to purchase from the Company one share of
General Electric Company common stock, par value $0.06 per share,
at the Option Exercise Price in accordance with the terms of this
Grant, the GE 2007 Long Term Incentive Plan ("Plan"), and any rules
and procedures adopted by the Committee.
2. Exercisability and
Expiration Date. Options shall become
exercisable only at and after the Exercisable Dates, and shall
expire on the Expiration Date, except as follows:
a. Employment Termination Due
to Death. If the Grantee's employment
with the Company or any of its affiliates terminates as a result of
the Grantee's death, then any unexercisable Options shall become
immediately exercisable, and any unexercised Options shall expire
on the Expiration Date.
b. Employment Termination Due
to Transfer of Business to Successor Employer.
If the Grantee's
employment with the Company or any of its affiliates terminates as
a result of employment by a successor employer to which the Company
has transferred a business operation, then any unexercisable
Options shall become immediately exercisable, and any unexercised
Options shall expire 5 years after termination of employment or on
the Expiration Date, whichever date occurs first.
c. Employment Termination
Less Than One Year After Grant Date. If the Grantee's employment with
the Company or any of its affiliates terminates for any reason
other than death or due to transfer to a successor employer before
the first anniversary of the Grant Date, then all unexercised
Options, whether or not exercisable on the date of termination,
shall immediately expire upon such termination.
d. Employment Termination
More Than One Year After Grant Date. If, on or after the first
anniversary of the Grant Date, the Grantee's employment with the
Company or any of its affiliates terminates as a result of any of
the reasons set forth below, or the Grantee becomes eligible to
retire, each as defined, then the Exercisable Dates and Expiration
Date shall be automatically adjusted as provided below (subject to
any rules adopted by the Committee):
(i) Termination for
Retirement or Total Disability. If (a) the Grantee becomes
eligible for Optional Retirement at or after age 60 under the U.S.
GE Pension Plan, or (b) the Grantee is not a participant in the
U.S. GE Pension Plan and becomes eligible to retire under another
retirement plan or program of the Company or any of its affiliates
on or after Grantee has attained age 60 and accumulated 5 or more
years of combined service with the Company and any of its
affiliates, or (c) the Grantee's employment with the Company or any
of its affiliates terminates as a result of a total disability,
i.e., the inability to perform any job for which the Grantee is
reasonably sui