GE Aerospace extends CEO Larry Culp's contract through at least 2027

GENERAL ELECTRIC CO

New employment agreement effective July 1, 2024 extends Culp's term to Dec 31, 2027 (extendable to Dec 31, 2028).
Base salary $2M/year; target annual bonus 200% of base; annual equity target $15.25M starting 2025.
One-time $50M performance equity award (310,289 PSUs at target) based on adjusted EPS CAGR through 2027.
Existing 2020 performance share grant fully vests on Aug 17, 2024.
Post-employment restrictive covenants (non-compete, non-solicit) for 12 months.

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