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Stock Option Grant Agreement - additional terms & conditions

Stock Option Agreement

Stock Option Grant Agreement - additional terms & conditions | Document Parties: GENERAL ELECTRIC CO You are currently viewing:
This Stock Option Agreement involves

GENERAL ELECTRIC CO

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Title: Stock Option Grant Agreement - additional terms & conditions
Date: 2/18/2009
Industry: Conglomerates     Sector: Conglomerates

Stock Option Grant Agreement - additional terms & conditions, Parties: general electric co
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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


 
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