At the Board of Directors meeting on October 25, 1976 Gertrude G. Michelson and Lewis T. Preston were elected directors. Since 1963 Mrs. Michelson's principal occupation has been as an officer of R. H. Macy & Co. Inc., where she is presently Senior Vice President-Employee and Consumer Relations. Mr. Preston has been an officer of Morgan Guaranty Trust Company of New York since 1959 and is presently Vice Chairman of the Board and director of that bank and J. P. Morgan & Co. Incorporated. As of October 15, 1976 Mrs. Michelson and Mr. Preston owned 200 shares and 100 shares, respectively, of GE Common Stock. Principal Executive Officers Reginald H. Jones................ Chairman of the Board and Chief Executive Officer Walter D. Dance.................. Vice Chairman of the Board and Executive Officer Jack S. Parker....................... Vice Chairman of the Board and Executive Officer Hershner Cross.................... Senior Vice President Oscar L. Dunn..................... Senior Vice President Charles E. Reed................... Senior Vice President John F. Burhngame............. Vice President and Group Executive Robert R. Frederick............ Vice President and Group Executive Stanley C. Gault.................. Vice President and Group Executive Edward E. Hood, Jr............. Vice President and Group Executive Robert B. Kurtz................... Vice President and Group Executive Mark Morton....................... Vice President and Group Executive Gerhard Neumann.............. Vice President and Group Executive Thomas A. Vanderslice....... Vice President and Group Executive John F. Welch, Jr................. Vice President and Group Executive Alva O. Way........................ Vice PresidentFinance Thomas O. Thorsen............. Vice President and Comptroller Walter A. Schlotterbeck...... Vice President, General Counsel and Secretary Russell E. Whitmyer............ Vice President and Treasurer All of the above listed individuals have been officers or employees of General Electric for each of the last five years except for Mr. Way. Mr. Way served General Electric in various positions from 1951 until 1970, when he joined Honeywell Information Systems, Inc. as a vice president. He returned to General Electric in 1973 and has served in executive positions since that time. Remuneration of Directors and Officers Information is set forth below as to the remuneration for 1975, paid or allotted by General Electric and its affiliates to each director whose aggregate remuneration from General Electric exceeded $40,000 (which includes the four highest paid officers of General Electric), and to all directors and officers as a group. General Electric's Incentive Compensation Plan and Stock Option Plans are administered by the Management Development and Compensation Committee of the Board of Directors. No present directors, except Messrs. Jones, Dance and Parker (who are not members of that Committee), are eligible to participate in these Plans or in the General Electric Pension Plans. The Incentive Compensation Plan authorizes the Board of Directors to appropriate to an incentive compensation fund each year an amount based on the net consolidated earnings of General Electric and all affiliates whose accounts are consolidated in General Electric's financial statements. The maximum amount that may be appropriated for this fund in any year is 10% of the excess of the net consolidated earnings, as defined in the Plan, over 5% of the average consolidated capital investment, as defined in the Plan. 36 Remuneration for 1975 Incentive compensation Name of individual Aggregate for 1975 allotted or identity remuneration in shares of group Capacity for 19751 and deferred2 Reginald H. Jones............... Chairman of the Board and Chief Executive Officer $ 500,000 See note3 Walter D. Dance........ Vice Chairman of the Board and Executive Officer $ 390,471 See note3 Jack S. Parker.................... Vice Chairman of the Board and Executive Officer $ 390,500 See note3 Herman L. Weiss*............... Vice Chairman of the Board and Executive Officer $ 390,000 See note3 All 104 officers as a group4............................................................................ $15,214,931 29,992 shares All 16 outside directors as a group5.............................................................. $ 289,106 -0- All 120 officers and directors as a group....................................................... $15,504,037 29,992 shares * Mr. Weiss died on September 6, 1976. Notes: 1. (a) This column is on an accrual basis and includes incentive compensation for services performed in 1975 which has been allotted and paid in 1976. Allotments for 1975 (including deferred amounts shown in the next column) total $33,000,000 to 3,234 employees of General Electric and its consolidated affiliates, including $8,302,167 to 98 officers and directors. During 1975 payments were made on account of incentive compensation awarded for services performed in 1974. Allotments for 1974 totaled $34,765,000 to 3,277 employees, including $8,995,167 to 108 officers and directors. On a paid basis, aggregate remuneration during 1975 was as follows: Mr. Jones, $520,000; Mr. Dance, $405,471; Mr. Parker, $405,500; Mr. Weiss, $405,000; and all officers as a group, $15,312,800. (b) This column also includes the payment of $19,275 representing 50% of the cost of an external financial counseling service offered to officers of General Electric. In addition, 16 officers received an aggregate of $371,634 under General Electric programs designed to assist employees transferred to new General Electric locations. Officers, division general managers, and deputy division general managers of General Electric have the opportunity, subject to medical examination, to purchase additional life insurance coverage (supplementing the coverage available under General Electric's group insurance plans) on a basis under which General Electric participates in the payment of premiums and the receipt of policy proceeds. Messrs. Jones, Dance, Parker, Weiss and 78 other General Electric executives participated in the program in 1975. The program is designed so that if assumptions as to mortality experience, policy dividends and other factors are realized, General Electric will recover all its payments plus a factor for the use of its money. 2. Allotments are paid following award, except that part or all of the allotments are or may be payable on a deferred basis in annual installments following the end of the participant's employment. In the case of officers, a portion of each allotment, subject to certain aggregate career limits, is mandatorily deferred and may be forfeited for activity harmful to the interests of General Electric, either during or after termination of employment. Deferred allotments are credited in General Electric shares valued at the closing price on the New York Stock Exchange on the last business day prior to allotment ($52,625 per share for allotments for 1975). Participants are also credited in shares with the equivalent of dividends both on originally allotted shares and (since 1968) on shares received as dividends; for allotments deferred prior to 1966, such dividend equivalents are credited in cash. Beginning in 1976, a participant may elect, following retirement, to have all or part of his deferred allotments converted to a cash account at the then current value of the General Electric shares and thereafter the converted portion is credited with interest instead of dividend equivalents. 37