BEST START POLICY GE U. S. RELOCATION PROGRAM

BEST START POLICY GE U. S. RELOCATION PROGRAM Global Mobility Services (GMS) reserves the right to interpret the meaning of the GE Relocation Program and to make the final decision in all cases. GMS may also modify the program at any time without notice. Employees may or may not be authorized to receive all benefits outlined in this program. Best Start Not for use or disclosure outside GE except under written agreement Dec 2013

IMPORTANT REMINDERS... 1 SUMMARY OF BENEFITS... 2 ABOUT THIS PROGRAM... 4 INTRODUCTION... 4 PLANNING... 4 WHO IS ELIGIBLE FOR BENEFITS... 4 Your Benefits Are Described In This Handbook... 4 EXCEPTIONS TO POLICY... 5 GE RELOCATION CENTER SERVICES... 5 Website... 5 Mobile App... 5 WHAT HAPPENS IF YOU LEAVE THE COMPANY... 6 YOUR ROLE... 6 Family... 6 Benefits for Your Spouse... 6 Conflict of Interest... 6 IMPORTANT REMINDERS ABOUT REIMBURSABLE EXPENSES... 6 THE REIMBURSEMENT PROCESS... 7 FILING EXPENSES FOR REIMBURSEMENT... 7 Steps To Follow For Reimbursement... 7 Important to Remember... 8 RECORD KEEPING... 8 DEPARTURE LOCATION RESIDENCE... 9 INSPECTION AND TITLE REQUIREMENTS... 9 Home Inspections... 9 Scheduling Inspections... 9 Required Repairs... 9 Disclosure Your Responsibility... 9 Important Reminders... 10 Title Search... 10 SELLING YOUR HOME... 10 Ineligible Properties... 11 Conditional Eligibility... 11 HOME SALE OPTIONS... 12 Tax Information... 12 BEGINNING THE SALES PROCESS... 13 Selling Home without Agent... 13 Interviewing the Real Estate Agent... 13 BROKER MARKET ANALYSIS... 14 LISTING YOUR HOME... 14 EXCLUSION CLAUSE... 14 Referral Clause... 15 MARKETING ASSISTANCE... 15 Monitoring the Listing... 15 List Price Restriction... 15 BUYER VALUE OPTION OR MARKET VALUE SALE. ERROR! BOOKMARK NOT DEFINED. How the Buyer Value Option Works... Error! Bookmark not defined. HOME SALE INCENTIVE... 18 Calculation of Incentive... 18 OBTAINING YOUR EQUITY WHEN YOUR RESIDENCE HAS BEEN ACQUIRED BY GE RELOCATION CENTER... 19 Necessary Documentation... 19 Vacating Your Home... 19 APPRAISED VALUE... 20 Home Sale Program Timeline... 20 Home Appraisals... 20 Accepting the Appraised Value Offer... Error! Bookmark not defined. Vacating Your Home... 21 AMENDED SALE OPTION... 22 How the Amended Sale Option Works... 22 INDEPENDENT SALE OPTION (DIRECT REIMBURSEMENT)... 23 Eligible Expenses... 23 Best Start Not for use or disclosure outside GE except under written agreement Dec 2013

Selling Home without Agent... 23 Ineligible Expenses... 23 Expense Reimbursement... 23 PURCHASING YOUR NEW HOME... 24 HOME BUYING ASSISTANCE... 24 Internet Home Search... 24 Eligibility... 24 Choosing a Real Estate Agent... 24 CLOSING ON YOUR NEW HOME... 24 Eligible Expenses... 24 Subsequent Relocations... 26 Home Purchase Inspections... 26 Non-reimbursable Expenses... 27 EQUITY ADVANCE... 28 Automatic Acceptance provision of the Equity Advance... 28 Pre-appraisal Equity Advance... 28 PREPAYMENT PENALTIES... 28 BUILDING A HOME... 29 NEW HOME MORTGAGE... 30 Advantages... 30 TRAVEL AND LIVING EXPENSES... 31 ACTUAL COST TRACKING (ACT)... 31 House Hunting Trips... 31 Temporary Living... 31 Final Move (En Route)... 32 Covered Expenses... 32 Expenses not reimbursed... 32 LUMP-SUM MONETARY PAYMENT (LUMP)... 32 REIMBURSEMENT FOR TRAVEL... 33 MISCELLANEOUS EXPENSE ALLOWANCE (MEA)... 34 Payment of the MEA... 34 MOVING TO YOUR NEW HOME... 35 MOVING YOUR HOUSEHOLD GOODS... 35 Shipment... 35 Covered Expenses... 35 Insurance... 35 Excluded Items... 36 Storage... 36 Automobiles... 36 Pet Transportation... 36 TAX ASSISTANCE... 37 IRS REQUIREMENTS... 37 Tax Assistance... 37 Definitions... 37 Excludable Expenses... 37 Deductible Expenses... 37 Non-deductible Expenses... 38 Tax Assistance Payments... 38 Payments Not Eligible for Tax Assistance... 38 Record Keeping... 38 Tax Advice... 38 TAX ASSISTANCE SUMMARY CHART... 39 ADDENDUM... 40 IRS RULES AND GUIDELINES... 40 INSPECTION GUIDELINES... 40 A WORD ABOUT BROKER SELECTION... 41 EXCLUSION CLAUSE... 41 REFERRAL CLAUSE... 41 INTERIOR/EXTERIOR ACTION LIST... 41 COMPARABLE PROPERTIES INFORMATION FORM... 42 VACATING YOUR HOME - FREQUENTLY ASKED QUESTIONS:... 45 RELOCATION APPRAISAL GUIDE... 46 DIFFERENCES BETWEEN MORTGAGE VS. RELOCATION APPRAISAL... 48 APPRAISER INTERVIEW GUIDE... 49 MOVING GUIDE - BUYING... 50 PREPAYMENT PENALTY... 50 PET AIR TRANSPORTATION INFORMATION... 51 Best Start Not for use or disclosure outside GE except under written agreement Dec 2013

IMPORTANT REMINDERS The home may not be listed for sale until all necessary inspections are completed and the title for your property has been cleared. Inspections and Title work will be ordered at initiation. Your real estate agents, in both the departure and destination location, must be registered with GE Relocation Center. Benefit for registering your agent includes the Home Sale Incentive on the sale of your home and the Loan Discount Point on the new home purchase. Do not sign any documents pertaining to the sale of your home, verbally negotiate offers only. The GE Relocation Center must sign all contracts and any other documentation associated with the sale of your property (addendums, binders, etc). This process must be adhered in order to be compliant with IRS guidelines for qualified home sale transactions. Do not use your Corporate Card for any relocation related expenses. Best Start Not for use or disclosure outside GE except under written agreement Page 1

SUMMARY OF BENEFITS Program Provision Eligibility Repayment Inspection and Title Requirement Broker Registration Home Marketing and Sale Program* *provided the home meets all eligibility requirements (see page 11) Home Buying Assistance Description Full-time, exempt employee; offered this set of relocation benefits by GE and you currently own and occupy a home as your principal residence at the departure location within the US Must complete all relocation activities within 12 months of start date Should you voluntarily terminate or be terminated for cause within twelve months following the expiration of your relocation benefits, you will be required to repay all the relocation costs incurred by the Company. At initiation the GE Relocation Center will order title work and inspections on your departure home. The home may not be listed for sale until the inspection process is complete and the title is cleared In an effort to improve the quality of real estate agent selection and to conform to the requirements of the relocation program, the GE Relocation Center will provide you with information and the names of the real estate firms included in the Network Broker program for both your current and new location. Successful registration of your broker will allow you to take full advantage of home purchase and/or home sale assistance. Marketing Assistance professional home marketing assistance provided to maximize marketing efforts. The initial list price of the home may not be greater than 105% of the average of the two broker market analysis anticipated sale price. Buyer Value Option or Amended Value Sale Provided that your home is deemed eligible, your listing broker is registered, and you secure an outside buyer, through the Marketing Assistance program, offering to purchase the home at the Market Value ; the buyer s offer sets the price at which the GE Relocation Center will purchase the home from you on behalf of the Company. Use of this option is beneficial to both you and GE; you will be relieved of responsibility for the property at the possession date. The possession date is defined as the day you contract with GE Relocation Center or vacate date, whichever is later. The GE Relocation Center will then try to sell the home to the outside buyer, but the purchase of your home by the GE Relocation Center will not depend in any way on whether this second sale is successful. Home Sale Incentive if you sell your home through either the Buyer Value Option or the Amended Value Sale you will be eligible for a home sale incentive of up to 3% of the sale price, based on the timing of the sale. Tax assistance is not provided. Appraised Value Offer is the average of two independent appraisals ordered through GE Relocation Center, if your home is deemed eligible after you have marketed for a minimum of 60 days. The Appraised Value Offer is available to you if you are unable to sell your home yourself during the 30-day marketing period, and you meet the qualifying criteria. The list price must be adjusted to no greater than 105% of the Appraised Value Offer after receipt. After Appraised Value offer is received you must market for another 90 days before being able to accept the offer. Independent Sale Option (Direct Reimbursement) You sell your home to an outside buyer on your own, independent of GE Relocation Center; or your home is ineligible for the program. You are responsible for all aspects of the sale. (See page 23 for details) Tax assistance is provided if your home is ineligible for the home sale program and you have disclosed any and all inspection results to the buyer. Provided that your agent is registered with GE Relocation Center, GE will cover the reasonable and customary home purchase expenses, including up to 1% loan discount point, direct bill lenders available. Tax assistance is provided on the non-deductible portion. Best Start Not for use or disclosure outside GE except under written agreement Page 2

Program Provision Movement of Household Goods Tax Assistance Discretionary Taxable Travel and Living Actual Cost Tracking (ACT) Lump-sum Monetary Payment (LUMP) Travel Reimbursement Miscellaneous Expense Allowance Description Normal family household goods moved via van line. Insurance provided through GE Electric Insurance Unavoidable storage not to exceed 90 days. Tax assistance is provided on storage over 30 days Shipment of two cars Pet Transportation reimbursement up to $1,000 Tax assistance provided for most taxable expenses, FICA is not provided At your businesses discretion you may be eligible for the following benefits: One of two reimbursement options may be available to you for the expenses related to Househunting, Temporary Living and Enroute (Final Move) Actual Cost Tracking (ACT) Or Lump-sum Monetary Payment (LUMP) You will be reimbursed for the expenses related to househunting for you and your dependent accompanying family members. If you are required to report to the new location prior to disposal of your former residence, you will be reimbursed for the actual expenses related to temporary living. Reasonable and actual final move expenses reimbursement for employee and dependent accompanying family members. Reimbursement is capped at $4,500 ($6,300 for high cost areas, as defined by GE) combined for househunting, temporary living, and final move excluding travel. If provided, it is eligible for tax assistance. In lieu of reimbursement for the actual expenses, you may be provided a lump sum payment based on the new work locations. The LUMP will be $4,500 ($6,300 for high cost areas, as defined by GE). If provided, it is eligible for tax assistance. Reimbursement of costs of actual travel to the new location for you and your family. If provided, it is eligible for tax assistance. Househunting up to 2 trips for you and your spouse; 1 trip for your accompanying dependents. Coach airfare or mileage Temporary Living return trips for you only. 1 trip every 30 days, maximum 3 trips. Coach airfare or mileage Final move one way transportation (Coach airfare or mileage) for you and your accompanying family members To provide assistance with expenses not specifically covered within the relocation policy you may receive a Miscellaneous Expense Allowance. You must be a current GE employee and your business has directed the application of this payment. If provided, it is not eligible for tax assistance. Best Start Not for use or disclosure outside GE except under written agreement Page 3

ABOUT THIS PROGRAM Introduction Your business wants your relocation to be a successful process from start to finish. Moving to a new area can be very exciting and there are many details to think about. This handbook can help you navigate through the process of moving to a new location by explaining: What expenses GE ( the Company ) will pay Who will be helping you as you move What forms you have to complete The steps to follow to ensure you receive your benefits Planning Please take the time to read this guide carefully and take full advantage of the assistance that is available to help you make plans and manage your personal move. Planning your move with a clear understanding of the policy will also help to avoid unpleasant surprises such as non-reimbursable costs. The most successful moves are those that are well planned. GE s relocation program covers most of your relocation costs. Be sure to talk with your hiring manager or Human Resources representative to understand any limits set by your business for expenses and the amount of time you spend away from your job for relocation-related activities. The business to which you are transferring bear the financial responsibility of your relocation, including the costs associated with the purchase and sale of your home. Who Is Eligible For Benefits You will be eligible for the benefits outlined in this handbook if: You are a regular, full-time employee and have been offered the relocation benefits provided in this policy; GE initiated the move to your new work location and you own and occupy a home in the departure location; Your moving expenses are incurred within 12 months of the effective date of your relocation. In addition, to be eligible for benefits, the distance between your current residence and your new work location must be at least 50 miles more than the distance between your current residence and your current work location. For example, if it is 10 miles from your current residence to your current work location, to be eligible for benefits, your new work location must be 60 miles or more from your current residence. Click here for IRS Rules and Guidelines Your Benefits Are Described In This Handbook This handbook addresses most expenses resulting from your relocation with GE. Your relocation is not an employment offer or employment contract or a guaranty of continued employment, nor should it be construed to create any contractual rights on the behalf of the employee or any obligations on behalf of GE. GE s decisions regarding the application and interpretation of the GE Relocation Program are final. The Company also reserves the right to change or cancel all or part of the Relocation Program at any time. GE's Relocation Program is designed to help you move closer to your new work location and to help make the move as smooth as possible. This handbook describes the provisions of the GE Relocation Program effective as of November 2013. It replaces all handbooks and materials issued prior to that date. Only those benefits described in this handbook and in the Company's Relocation Program are provided. If a benefit does not appear in this handbook, it may not be covered. In addition, Global Mobility Services (GMS) reserves the right to interpret the meaning of the GE Relocation Program and to make the final decision in all cases. GMS may also modify the program at any time without notice. Employees may or may not be authorized to receive all benefits outlined in this program. Best Start Not for use or disclosure outside GE except under written agreement Page 4

Exceptions to Policy GE's Relocation Program was designed to cover the vast majority of situations. It is not intended that you seek or negotiate exceptions. Exceptions may be considered only in rare instances and for compelling reasons, since they have a direct negative impact on business costs and could be precedent setting. The Miscellaneous Expense Allowance has been developed to assist with needs unique to your relocation. GE Relocation Center Services You should not take any action related to your move before discussing your situation with your Relocation Consultant. It is your responsibility to know and understand the benefits you will be receiving. GE has established the GE Relocation Center to assist employees with Company requested transfers. One of the first things you should do is contact the GE Relocation Center s Pre-Transfer Consultant at 800-437-7356 (800-GE S-RELO). The Pre-Transfer Consultant can answer any general questions you may have about your move. As soon as your hiring manager or Human Resources representative has submitted your relocation authorization to the GE Relocation Center, you can expect a call from your designated Relocation Consultant. He or she will review the relocation process with you, answer your questions about GE s relocation provisions, and assist you in obtaining access to the Relocation website. Your Relocation Consultant will contact you first. Then, feel free to call upon this person as often as you need assistance. Website Your Relocation Consultant will provide you access to a website that can be utilized to find valuable information regarding your destination location, your home sale guidelines, up-to-date move statuses, tips and tools to help you through the process, explains the online expense reimbursement procedures and several checklists to help you prepare for your relocation. There are also activities and games for children to get them involved in the move. Mobile App The Relocation center s Mobile app provides another convenient way to access your information. Simply download it at no cost from the Apple itunes store or the Google Play store. Functionality includes, but is not limited to: Notifications on status updates and milestone events in your move The ability to upload receipts to your expense reports The ability to send notes back and forth with your Relocation Consultant A summary snapshot with your key dates and personal profile information Contact information for your Relocation Consultant. The app uses the same login and password as Relocation web site. Best Start Not for use or disclosure outside GE except under written agreement Page 5

What Happens If You Leave the Company If you voluntarily terminate your employment or are involuntarily terminated for cause after relocating, you will not receive any additional relocation benefits. In addition, if the termination occurs within 12 months of expiration of relocation benefits, you may be required to repay all the expenses incurred by the Company Your Role We encourage you to become fully involved and to work closely with the professionals who have been made available to you. The more actively that you participate and provide information, the more effectively your Relocation Consultant and others can serve you. Planning your move with a clear understanding of GE s Relocation Program will reduce any unpleasant surprises such as nonreimbursable costs. The Company is making a significant investment in your relocation. The program reimburses you for most living, travel and moving expenses, as well as assisting with certain estimated federal and state tax liabilities as a result of relocation-related allowances and disbursements you will receive. The program does not provide for every dollar spent to be reimbursed. Any additional expenses not covered by the program are your responsibility. If provided, the Miscellaneous Expense Allowance can be used for these purposes. Family Your family members eligible for assistance under this program include your qualified dependent family who will move with you to the new location. A qualified family member is one who meets the same criteria necessary to be eligible for GE s health benefits and can be declared a dependent on your federal tax return. Family eligibility will be confirmed with HR. GE s Relocation Program does not cover the expenses related to relocating a nanny or domestic help. Benefits for Your Spouse If both you and your spouse work for the Company and are both relocating to new positions at the Company s request, the Company will coordinate the costs of the move between the two departments. However, only one of you is eligible for relocation benefits. Duplicate benefits will not be authorized. Conflict of Interest The Company s policy requires that employees avoid any conflict between their own interests and the interests of the Company when dealing with the sale or purchase of a home. Such transactions include but are not limited to working with suppliers, customers and other third parties, and in the conduct of their personal affairs. This includes real estate transactions in which members of the employee s immediate or extending family act in a position in which compensation is payable (real estate agent or broker in a listing, sale, or referral situation). No family member should financially benefit from the sale or purchase of an employee s home. Important Reminders about Reimbursable Expenses GE's Relocation Program is designed to help you pay for the cost of moving as the result of job relocation or an offer of employment. This handbook outlines eligible expenses for which you may be reimbursed. You will not be reimbursed for eligible expenses that you do not actually incur. You will not be reimbursed for expenses that are not eligible under this program. Neither can you substitute an ineligible expense for an eligible one. Any questions related to eligibility should be discussed with your Relocation Consultant and resolved before you make decisions or incur expenses for your relocation. Best Start Not for use or disclosure outside GE except under written agreement Page 6

THE REIMBURSEMENT PROCESS Filing Expenses for Reimbursement You will be reimbursed for reasonable, necessary and properly authorized expenses covered by this policy. You are expected to maintain expenses at a conservative level. The Company may, at its discretion, choose not to reimburse, in full or in part, an expense that is deemed unreasonable or excessive. All expenses, unless otherwise specified, must be in accordance with the Company s Travel and Living Policy, however, no expenses associated with your relocation should be submitted through the Travel and Living expense system. Receipts are required for all reimbursable expenses except tips and tolls. Do not use your corporate credit card for relocation expenses. For those expenses that will be directly reimbursed to you, GE Relocation Center will process your expense reimbursements when your completed relocation expense report and receipts are received. Relocation reimbursements are processed by the GE Relocation Center and fed to your GE payroll. Please expect 2 to 3 weeks from submission of your expense for processing into your paycheck. If you are a newly hired employee you will not be able to receive reimbursement until you are active on payroll. Steps To Follow For Reimbursement Online submission is easy. Simply register on the Relocation web site and click on the Online Expense Report link. (Your Relocation Consultant will provide you with an ID and Password for initial access to the site or you can navigate to the website directly through www.gemoves.com.) The mobile app can also be used. For expenses submitted through the Online Expense Report, these requirements must be followed: Submit your relocation expense report online. Upon completion of your submission, use the View Report & Upload Receipts/Documentation link to upload your receipts directly to the website. Alternately, receipts can be faxed to the GE Relocation Center if you do not have access to imaging software and upload your receipts to the Relocation website. The bar coded cover sheet that you print out must accompany the faxed receipts so that they can become automatically attached to your file, expediting the reimbursement process. The fax number is listed on the bar coded cover sheet. Fax the receipts with the bar coded cover sheet. The bar coded cover sheet must be the first page, please do not include another cover sheet. Fax the entire multi-page document to the fax number as one document. If you fax the bar coded sheet as one document and then submit a second fax with the receipts, the system will not associate them with one another because they were submitted separately. Save your fax confirmation for tracking. Keep copies of your uploaded or faxed transmission including all original receipts. You will be notified of disbursements via email. Use the following steps for filing a paper copy of your relocation expense report: Complete your expenses report. Reference your file number on either the fax cover page or on the expense report. Create a fax cover page and fax the cover page, expense report and receipts to 913-322-6359. You will not have a bar coded cover sheet unless submitted through the Online Expense Report. Best Start Not for use or disclosure outside GE except under written agreement Page 7

Fax the entire multi-page document (Fax cover sheet, expense report and receipts) to the fax number as one document. Save your fax confirmation for tracking. Keep copies of your fax transmission including all original receipts. You cannot be reimbursed unless receipts are submitted. Important to Remember Relocation expenses must be separate and distinct from business expenses If you are traveling on business during this period, you must submit those expenses following your normal business travel process Credit card statements cannot be used in lieu of receipts Do not direct bill relocation expenses to the Company Do not use your Corporate credit card for any relocation related expenses, and do not submit any expenses through the Travel and Living expense system Record Keeping You are required to keep records and receipts of all your expenses, whether they are reimbursable under this Program or not this will assist in the completion of your federal and state tax returns at year end Best Start Not for use or disclosure outside GE except under written agreement Page 8

DEPARTURE LOCATION RESIDENCE The home may not be listed for sale until all necessary inspections are completed and the title for your property has been cleared. Inspections and Title work will be ordered at initiation and disclosures must be returned in order to start the process. Inspection and Title Requirements Home Inspections The GE Relocation Center will order inspections on your departure home after the initial benefits call with your Relocation Consultant. A major component inspection and pest inspection will be conducted on all properties; additional inspections may be performed based upon the age of the property, feedback from agent, appraisers, potential buyers, the particular systems and features of the property, or as indicated on your disclosures. Other inspections may include, but are not limited to: Well Septic Structural / Engineering Pool and/or spa Asbestos Siding (EIFS, Composite, MSV, Hardiplank, etc) Mechanical Mold Soil stability Water infiltration Inspections required by law or local custom The GE Relocation Center will use a fully certified, nationally recognized professional inspection company to conduct these inspections. Click here with the Inspection Guidelines. Scheduling Inspections The inspectors will call you, or your designee, to schedule appointments. Required Repairs Your Relocation Consultant will review the results of these inspections with you to identify repairs that you must address prior to initiation of the home sale program. Your Relocation Consultant will provide you an inspection guideline that will help to define the requirements of many of the inspections and remediation necessary in order to continue in this program. Disclosure Your Responsibility You are required to disclose the full condition of your property to your Relocation Consultant, as well as to any potential buyers. Failure to disclose any defects or deficiencies could constitute at a minimum misrepresentation and, more likely, fraud. Disclosure: it is the duty of the seller to make known to a buyer, the condition of the property, particularly any defect that could affect its value, habitability, or desirability. The Homeowner Real Estate Disclosure, the Lead Paint Disclosure, and any applicable, mandatory state disclosure forms, may be included in your initial package. Please complete these forms and return them to your Relocation Consultant along with any other requested documents as soon as possible in order to start the inspection process. Best Start Not for use or disclosure outside GE except under written agreement Page 9

IMPORTANT FORMS: Homeowners Real Estate Disclosure Lead Paint Disclosure Important Reminders Receipt of signed disclosures is required prior to your Relocation Consultant ordering inspections When you market your home, all inspections including those performed by the GE Relocation Center must be disclosed to the buyer If you do not disclose complete and accurate information that is subsequently discovered, you may be held responsible for all expenses involved in correcting the defect(s) and any possible litigation Title Search The GE Relocation Center will also initiate a title search in order to prepare for the sale of your home. Any title deficiencies must be cleared prior to the initiation into the home sale program. The costs associated with clearing of the title are your responsibility. Once title is confirmed cleared you will receive a deed package (necessary legal documents) that must be signed, completed and notarized in accordance with the accompanying instructions and returned to the attorney prior to GE Relocation Center purchasing your home and the release of your equity. Selling Your Home Home Marketing and Sale Program is available for your primary residence at the time of transfer. Title to the home must be in the name of you; or you and your spouse; or your spouse only. Assistance is limited to occupied single family dwellings, condominiums, or townhouses located in the United States. A home (including a mobile home with a permanently fixed foundation) must meet the following criteria: Be your primary residence immediately prior to transfer Have operational electrical, plumbing, heating and septic systems Be structurally sound and completely constructed Have a marketable title recorded in your name and/or your spouse The home must meet all code requirements with necessary permits and be able to be mortgaged under customary lending practices. In addition, your home must be in compliance with GE Inspection Guidelines, which will be provided to you by your Relocation Consultant. You are responsible for all representation and warranties, both known and unknown. Best Start Not for use or disclosure outside GE except under written agreement Page 10

Ineligible Properties The following properties are ineligible for Home Marketing and Sale Program, including but not limited to: Uninsurable homes A home that does not meet minimum electrical, plumbing, or structural requirements; or with incomplete construction or septic systems, etc A home unable to obtain standard financing, including condominiums Secondary properties, seasonal or vacation homes Cooperative apartments Multiple dwellings larger than a duplex A home with land in excess of local standards or additional lots Commercial or income-producing properties Homes rented under a long-term lease or sold under a land contract or other deferred passageof-title arrangements Farms or properties that are zoned for agriculture Vacant land Mobile homes without a permanent foundation Houseboats Conditional Eligibility In addition, certain properties deemed cost prohibitive may be ineligible for the Home Sale Program due to any of the following: Severe marketability problems Zoning or easement disputes; building code violations (outstanding permits, CO issues) Toxic or hazardous materials and/or substances, such as, but not limited to: Radon Asbestos Siding Composite, Synthetic stucco (EIFS), Manufactured Stone Veneer (MSV), Hardiplank Lead paint If you question the eligibility of your home, contact your Relocation Consultant immediately to discuss the situation and determine how best to proceed. In case of a title deficiency, structural defect or substance problem, corrective action may make your home eligible for the program. In the event your home is not eligible for Home Marketing and Sale Program, you may be reimbursed for normal and reasonable closing costs associated with the sale of your property. Please refer to the section entitled Independent Sale Best Start Not for use or disclosure outside GE except under written agreement Page 11

Home Sale Options Selling your home is a key aspect of relocating. Because not all situations are the same, GE provides the following: Buyer Value Option - You secure an outside buyer offering to purchase the home at the Market Value ; the buyer s offer sets the price at which GE Relocation Center will purchase the home from you. Amended Value Sale You secure an outside buyer after you have received the Company Appraised Value Offer. If higher than the Appraised Value Offer, the buyer s offer sets the price at which the GE Relocation Center will purchase the home from you. GE Relocation Center must sign the sale agreement with any outside buyer. Do not sign any documents associated with an outside buyer s offer to purchase or you will not be eligible for the program. Home Sale Incentive if you sell your home through either the Buyer Value Option or the Amended Value Sale you will be eligible for a home sale incentive of up to 3% of the sale price capped at $12,000, based on the timing of the sale. Tax assistance is not provided. Appraised Value Offer is the average of two independent appraisals ordered through GE Relocation Center. The Appraised Value Offer is available to you if you are unable to sell your home yourself during the 30-day marketing period, and you meet the qualifying criteria. The list price must be adjusted to no greater than 105% of the Appraised Value Offer after receipt. Independent Sale Option (Direct Reimbursement) You sell your home to an outside buyer on your own, without the services of the GE Relocation Center, or your home is ineligible for the program. You may be reimbursed for normal and reasonable closing costs associated with the sale of your property. These options are explained in more detail later in this section. Tax Information If you utilize the services of GE Relocation Center (Buyer Value Option, Amended Value Sale, Appraised Value Offer), the sale expenses are not considered taxable income to you and, therefore, do not require tax assistance. Best Start Not for use or disclosure outside GE except under written agreement Page 12

Beginning the Sales Process GE understands that getting the best price for your home is vital to a successful relocation. Selection of a knowledgeable real estate agent is very important. Successful home sales result from careful planning and pricing; along with effectively targeting buyers and developing offers. To help you achieve this, the Home Marketing Program provides support beginning even before you list your home for sale. Before you contact a real estate agent in either the old or new location Talk to the GE Relocation Center 800-437-7356 (800-GE S-RELO) DO NOT SIGN ANY SALE AGREEMENTS, BINDERS, ETC. You may negotiate verbally only! In an effort to improve the quality of real estate agent selection and to conform to the requirements of the relocation program, the GE Relocation Center will provide you with information and the names of the real estate firms included in the Network Broker program for both your current and new location. The Real Estate Network Broker program consists of real estate agencies that are experienced in providing service in your current community and your new community. These agencies are evaluated by the GE Relocation Center to ensure they have a reputation of timely, successful sales and meet the highest standards of customer service. Your departure broker must be registered (prior to signing the listing agreement) with your Relocation Consultant. Successful registration of your broker will allow you to take full advantage of home purchase and/or home sale assistance. REMEMBER: YOU MAY NOT LIST THE HOME FOR SALE UNTIL INSPECTION(S) ARE COMPLETED AND ADDRESSED AND TITLE TO YOUR HOME BEEN SUCCESSFULLY CLEARED! Selling Home without Agent If you do not use a real estate agent, you are not entitled to the equivalent fee for the real estate commission. In addition, no member of your family may act as the listing or selling agent (please refer to the Conflict of Interest. Interviewing the Real Estate Agent Some questions you might ask potential real estate agents in your selection process are: What locations and price ranges are you most active in? How many homes similar to mine have you sold in the last 90 days? What are the comparable home listings and sales used in establishing your recommended list price? How do you intend to market my home? number of open houses frequency of open houses advertisements to be used Click here for information regarding selecting a broker. Best Start Not for use or disclosure outside GE except under written agreement Page 13

Broker Market Analysis Your Relocation Consultant will order two Broker s Market Analyses (BMA s) from local real estate agents in order to begin the listing process. The BMA s will provide initial information regarding your home along with suggestions for marketing. In addition, each agent will provide a recommended list price and expected sale price for your home. The results of the BMA s will be reviewed by Cartus and shared with you. The two BMA s recommended list price will be averaged together, provided they are within 10%, if they are outside of the 10% a third BMA will be ordered and the two closest will be averaged. This is the basis of the list price parameter. In order to receive the home sale incentive, your property must be listed within 105% of the list price parameter. Listing Your Home Let your Relocation Consultant know which real estate agent you would like to work with before talking to the agent. Your Relocation Consultant will register the referral with the real estate agent for you. If you do not have an agent in mind, tell your Relocation Consultant. They will help you select a qualified agent. Do not sign a listing agreement until you have spoken to your Relocation Consultant. Your selling real estate agent must be registered with GE Relocation Center to be eligible for Home Sale Incentive. To list your home, follow these steps: Complete the Inspection and Title processes Address any required repairs Contact your Relocation Consultant to review the real estate agents Register your choice with your Relocation Consultant After your real estate agent has contacted you and developed your listing agreement - notify your Relocation Consultant before you sign your listing agreement Your Relocation Consultant will make sure your listing agreement meets the program requirements Be sure to include the Broker Exclusion Clause in your listing - this is a requirement If this clause is not included, you will be responsible for paying any commissions due to the real estate agent if the property is sold to the GE Relocation Center - see below for the Exclusion Clause. Have your broker complete the Comparable Properties Information Form (Click to view) Sign the listing agreement, but not for more than a 90-day period Finalize your home marketing strategy with your real estate agent and your Relocation Consultant Complete any recommended improvements that will help you sell your home Make sure your home is in top showable condition Exclusion Clause Your listing agreement must include the Broker Exclusion Clause. The exclusion clause protects you from having to pay a broker s commission if you sell your house to the GE Relocation Center. GE Relocation Center will provide your real estate agent with the original Broker Exclusion Clause to sign and return to your Relocation Consultant. If your listing real estate agent has any questions regarding the exclusion clause, please contact your Relocation Consultant before signing the listing agreement. (To view the Exclusion Clause click here) Best Start Not for use or disclosure outside GE except under written agreement Page 14

Both the Exclusion Clause and Referral Clause must be fully executed and returned to your Relocation Consultant prior to signing the listing agreement. Referral Clause In addition to the Exclusion Clause your real estate agent will be required by GE Relocation Center to acknowledge and sign the Referral Clause. Click here to view the Referral Clause. Marketing Assistance Your Relocation Consultant will work in partnership with you and your listing real estate agent to ensure that an effective marketing strategy on your home is always in place. The marketing strategy will include: Suggestions on how to prepare your home for sale A recommended listing price and anticipated sales price Information on competing properties for sale and recently closed comparable homes A designated buyer profile for your property Creative home sales promotion ideas It is important to understand the market realities and home values early in the home sale process so realistic expectations can be established. Click for Interior/Exterior Action List to help you get your house ready for sale. Monitoring the Listing It is your responsibility to stay actively involved in the home sale process. Your Relocation Consultant will monitor the entire listing effort, including a review of homes currently listed in your area and an evaluation of recently closed properties, to ensure that a realistic pricing strategy is in place. Marketing assistance also includes: pro-active marketing strategy calls follow-up on buyer and real estate agent feedback follow-up on advertising and open house events Your Relocation Consultant may also make recommendations to adjust your price, terms, or conditions accordingly. List Price Restriction The initial list price of your home may not exceed 105% of the average of the recommended list price from the Broker Market Analyses ordered by GE Relocation Center. If you do not market your home within the initial list price parameter based on the average of the two Broker Market Analyses you will not qualify for the home sale incentive. Once the Appraised Value Offer has been established the list price must be adjusted to within 105% of the Appraised Value offer Amount. If you do not market your home within 105% of the Appraised Value Offer amount within one week of receipt, you will be converted to the Independent Sale option with no tax gross up. In most housing markets, real estate activity (the number of showings to prospective buyers) is at the highest for most properties during the first three to four weeks of marketing. Recognizing this, it is worthwhile to take time to plan an appropriate strategy that will make the home as competitive as possible in every aspect, and take maximum advantage of those important first weeks on the market. NOTE: A house priced 5% above its current market value is ten times more likely to sell than if it is priced 15% above the market value. Overpricing may turn away prospective buyers at a time when you want your home to be seen by largest volume of people within the first 30 days. Price reasonably for the best results. Best Start Not for use or disclosure outside GE except under written agreement Page 15

Please note: If your list price exceeds the list price restriction, you will be ineligible for the Home Sale Incentive. Your Relocation Consultant will monitor the listing effort. Once your home is listed, your listing agent will communicate the results of advertising and open houses, as well as feedback from buyers and other real estate agents, to the GE Relocation Center. Your Relocation Consultant will make recommendations to adjust price, advertising, terms, or conditions accordingly. Best Start Not for use or disclosure outside GE except under written agreement Page 16

Buyer Value Option or Market Value Sale You may use the Buyer Value Option when you receive an offer for your home. The Buyer Value Option is sometimes referred to as the Market Value Sale; essentially, the buyer sets the market value for the property. This is the price at which GE Relocation Center will match and purchase the home from you. In addition, you are eligible for the Home Sale Incentive. With the Market Value Sale, you do not sell your home to the outside buyer. Instead, GE Relocation Center will buy your home on behalf of the Company, at the negotiated sale price, less any concessions you have agreed to and you will be relieved of any further responsibility for the home at the date of possession Please note: Contact your Relocation Consultant as soon as an offer is made on your home. How the Buyer Value Option Works This process must be adhered in order to be compliant with IRS guidelines for qualified relocation home sale transactions. Use the following steps to take advantage of the Buyer Value Option: If you receive an offer from an outside buyer, do not sign* any documents or accept any money - doing so will make your home ineligible for the program Contact your Relocation Consultant to have the offer reviewed and approved Your Relocation Consultant will indicate any items or terms which may not be in your best interest or may not be covered under the GE Relocation Program Your Relocation Consultant will prepare a contract of sale for the net sales price Review, sign, and return these documents to your Relocation Consultant, as instructed, at your earliest convenience Once the contract is approved, the GE Relocation Center will purchase the home; at this point, you will have sold your home to GE Relocation - You are not required to attend the closing. However you remain financially responsible for the home until the possession date The GE Relocation Center will then try to sell the home to the outside buyer, but the purchase of your home by the GE Relocation Center will not depend in any way on whether this second sale is successful. GE Relocation Center must sign the sale agreement with the outside buyer. Do not sign any documents associated with the buyer s offer to purchase or you will not be eligible for the program. *You may verbally negotiate with the outside buyer, but do not accept anything in writing (this includes email). Best Start Not for use or disclosure outside GE except under written agreement Page 17

Home Sale Incentive This benefit provides an additional incentive to price your home reasonably, actively participate in the marketing process and carefully consider all offers. The Home Sale Incentive of up to 3% of the net sale price (BVO or Amended Sale) will be paid when the following requirements are met: Your listing agreement contains the Broker Exclusion Clause and your agent is registered You participate in the Home Marketing program, including the list price restriction You present all offers to your Relocation Consultant Your home is eligible for the Home Sale Program Calculation of Incentive The amount of the incentive is based on the timing of the sale: If the home is sold within the first 30 days of listing, the bonus will be based on 3% of the sale price capped at $12,000 USD. If the sale occurs between day 31-60 of listing, the bonus will be based on 2% of the sale price capped at $8,000 You are not eligible for the Home Sale Incentive if you sell your home through the Independent Sale Option or accept the Appraised Value. Tax Information Your Relocation Consultant will process the Incentive payment at the time your equity payment is made. The Home Sale Incentive is considered taxable income and tax assistance will not be provided. Best Start Not for use or disclosure outside GE except under written agreement Page 18

Obtaining Your Equity When Your Residence has been Acquired by GE Relocation Center The following items or pro-rated amounts will be withheld from the equity: Principal balance Mortgage interest calculated to the later of your vacate or contract date Any property taxes that are due, but not yet payable, calculated to the later of your vacate or contract date Buyer s closing costs/concessions Prepayment penalty (for information on Prepayment Penalties, click here) Your final equity will be your sales price (Buyer Value Option, Amended Value Sale, or Appraised Value) minus your unpaid mortgage balance, tax and interest proration, prepayment penalties, costs of any repairs and all other liens against the property. Necessary Documentation Your Relocation Consultant will identify and supply the necessary documents required to contract with GE Relocation Center. Once you return the required documents to GE Relocation Center and they have acquired your residence, they will assume responsibility for all mortgage payments or pay-offs, utilities, and maintenance as of the date of possession. Depending on your interest rate and/or closing date, the GE Relocation Center may elect to service your loan until it sells your house to an outside buyer. If your mortgage payment is made by an automatic draft to your account, be sure to notify your lender to discontinue withdrawals. Vacating Your Home As part of the Contract of Sale, you will need to specify when you will vacate your home. Your Relocation Consultant will provide you with instructions on transferring ownership and where to leave your house keys, garage door opener transmitters, and appliance & system manuals. When you vacate your home, you must leave it in good structural condition. In addition, it must be "broom-clean" with all trash removed. Also, the garage, basement, and yard should be free of any trash or debris, including removal of any paint cans. Click here for Frequently Asked Questions Remember: You remain financially responsible for your home until the date of possession. Possession is defined as the day you contract with GE Relocation Center or vacate date, whichever is later. Please Note: Title and mortgage may remain in your name until the GE Relocation Center sells your home to an outside buyer. Best Start Not for use or disclosure outside GE except under written agreement Page 19