In addition, after his retirement, the contract requires.
Sigler (Chairman silas.Michelson, Sam Nunn, Roger.Stock options for executive officers normally become exercisable in two installments, the first half after three years and the other half after five years from the date of grant.The Company's basic compensation program for executive officers currently consists of the following elements: annual payments of salary and bonuses; annual grants of stock options; and periodic grants of restricted stock units (RSUs) and other contingent long-term financial performance awards.The Committees decisions concerning the specific 2001 compensation elements for individual executive officers, including the Chief Executive Officer, were made within this broad framework and in light of each executive officers level of responsibility, performance, current salary, prior-year bonus and other compensation awards.The Committee new bingo 3 test considered this level of payment appropriate in view.Welch earned 16,075,000 in salary and bonus, as shown in the Summary Compensation Table on page 20 (Annual Compensation).Cathcart served as a member of the Committee from 1977 to 1987 and since 1992, and served as a director of GE since 1972, except for the period during 1987 to 1989 when he served as Chairman and CEO of Kidder, Peabody Group Inc.,.Basis for Chief Executive Officer Compensation.Sigler (Chairman Silas.The Committee also considered the compensation practices and performances of other major corporations that are poker fallout 4 most likely to compete with the Company for the services of executive officers.Prior to his retirement in September 2001,.In return for these commitments.
Stock options and RSUs provide strong incentives for continued superior performance because, under the terms of these awards, unexercised stock options and RSUs for which restrictions have not lapsed are forfeited if the executive officer is terminated by the Company for performance or voluntarily leaves.
The specific bases for the Committee's determinations regarding.
The Committee considered these payments warranted.
The number of stock options granted to the Company's six most highly compensated executive officers, and the hypothetical potential value of the awards, are shown in the table on page 24 (Stock Options Granted in 2001).
Broad-Based Employee Stock Option Program, nearly 40,000 employees below the executive officer level have been awarded one or more stock option grants under a broad-based stock option program initiated in 1989.