Exhibit 10(c). Notice of Adjustment to the Performance Share Grant Agreement for H. Lawrence Culp, Jr., effective July 30, 2021
Contract Categories: Human Resources - Bonus & Incentive Agreements
EX-10.C 4 exhibit10c-hlcxgenoticeofa.htm EX-10.C Document
NOTICE OF ADJUSTMENT TO THE
GE PERFORMANCE SHARE GRANT AGREEMENT
This NOTICE OF ADJUSTMENT TO THE GE PERFORMANCE SHARE GRANT AGREEMENT (this “Notice”) is hereby given that, effective July 30, 2021 (the "effective date"), certain adjustments were made to the GE Performance Share Grant Agreement between General Electric Company (the “Company”) and H. Lawrence Culp, Jr., dated August 18, 2020 (the “Award Agreement”), which documents the grant of certain performance shares by the Company to Mr. Culp.
This Notice is to advise Mr. Culp that proportional adjustments have been made to the Award Agreement to reflect the reverse stock split of the Company’s common stock at a ratio of 1-for-8 (the “reverse stock split”), which was completed on the effective date. The adjustments described herein are made in accordance with the anti-dilution provisions of the Award Agreement and the 2007 Long-Term Incentive Plan, as amended and restated, and are consistent with the adjustments made for shareholders generally.
a. The number of performance shares granted at target is adjusted from 9,295,352 to 1,161,919.
b.The reference to par value shall mean $0.01 per share.
c.The Reference Stock Price is adjusted from $6.67 to $53.36.
d.The closing price per Share used to calculate the Highest Average Price shall be adjusted for any day prior to and including the effective date of this Notice to reflect the reverse stock split.
2.Effect of Notice. Except as set forth in this Notice, the terms of the Award Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, this Notice has been duly given by and on behalf of the Company.
|General Electric Company|
|By:||/s/ L. Kevin Cox|
|Name:||L. Kevin Cox|
Chief Human Resource Officer