Special Leadership Retention Bonus Letter Agreement between GE and Lynn Calpeter, dated September 9, 2010
This agreement is between GE and Lynn Calpeter, offering her a special retention bonus for her role in facilitating the sale of NBCU. Lynn will receive a bonus of $2,242,500, paid in two installments: half at the closing of the sale and half two years later, provided she remains employed at Comcast or GE through those dates. The bonus is contingent on satisfactory performance and is not part of her pension or benefits. The terms must remain confidential, except for disclosure to legal or financial advisors.
Exhibit 10.26
 | Keith S. Sherin | |||
| Vice Chairman and CFO | ||||
|
GE | ||||
| 3135 Easton Turnpike | ||||
| Fairfield, CT 06828 | ||||
| USA | ||||
|
T + 1 ###-###-#### | ||||
| F + 1 ###-###-#### | ||||
| ***@*** |
September 9, 2010
Lynn Calpeter
CFO-NBCU
30 Rockefeller Plaza
New York, NY 10112
Dear Lynn,
Re: Special Leadership Retention Bonus
I would like to outline the terms of a special leadership retention bonus to further support your continued dedication and best efforts towards facilitating the sale of NBCU. This incentive is beyond your normal base salary, incentive compensation and benefits, and would not be pension or benefits eligible compensation.
You will be eligible for a bonus equal to one and one-half times (1-1/2 X) your current total cash compensation ($1,495K) or $2,242.5K (gross before taxes), contingent upon the completion of the sale of NBCU. The payments will be made in two installments. Fifty percent will be paid at close and fifty percent will be paid two years after the close, provided you have worked continuously at Comcast or GE through these scheduled payment dates.
The terms of this special leadership retention bonus are contingent upon your satisfactory performance. I expect you to keep the terms of this offer confidential and not to disclose them to any person other than legal or your financial planner.
Sincerely,
/s/ Keith S. Sherin
Keith S. Sherin
