HR Frequently Asked Questions: All Employees

Transcription

1 HR Frequently Asked Questions: All Employees Issued: June 2017

2 Contents Compensation Legacy BHI... 3 Compensation & Benefits Legacy GE Oil & Gas... 6 Global Mobility... 8 HR Ops Immigration Learning & Development Regions HR

3 Compensation Legacy BHI Jump to Question: What will happen to my Retiree Medical Account (RMA)? What will existing stockholders own after the transaction closes? What are the federal income tax consequences to Baker Hughes stockholders as a result of the transaction? What happens to stock that I own? What happens to stock I purchase through the Employee Stock Purchase Program (ESPP)? How will Thrift 401(k) Plan loans be impacted? How will retirement benefits be impacted? Will my employment contract carry over to the new company, or will I be required to sign a new contract with the New Baker Hughes? Why did the company name on my paycheck advice recently change? Why did the company name on my paycheck advice recently change? How will the ICP and PIP bonuses be handled at close? What happens to the Sales Incentive Plans at close? What will happen to my Retiree Medical Account (RMA)? As the integration planning process continues, all benefits programs, including the RMA, will be reviewed in detail and, after careful review, final decisions on any changes to the programs following close will be made and communicated. There are no decisions to report at this time, and Baker Hughes intends to continue the RMA and retiree medical plans. However, Baker Hughes reserves the right to amend, cancel, change carriers of, or discontinue all or any part of the plans at any time. What will existing stockholders own after the transaction closes? Holders of Baker Hughes stock prior to the merger will own approximately 37.5% of the new company. They will be entitled to a special dividend of $17.50 per share. You can find more information on page 6 of the S-4 filing. What are the federal income tax consequences to Baker Hughes stockholders as a result of the transaction? (Answer posted March 29, 2017 regarding the Form S-4 filed with the U.S. Securities and Exchange Commission.) Baker Hughes stockholders will not recognize gain or loss for U.S. federal income tax purposes upon the exchange of shares of Baker Hughes common stock for shares in the new company. With respect to the special dividend, generally speaking, if the U.S. person is not a corporation, such amount will be eligible for a reduced rate of taxation. Stockholders should consult their tax advisors for more information. You can find more information on pages 21 and 109 of the S-4 filing. What happens to stock that I own? This is general, high-level summary of how the long-term incentive programs of Baker Hughes will be handled under the terms of the Transaction Agreement and Plan of Merger dated October 30, 2016 between GE Oil & Gas and Baker Hughes (the Transaction Agreement ). Under the Transaction Agreement, GE Oil & Gas and Baker Hughes will form a new entity, Baker Hughes, a GE company ( New Baker Hughes). Each share of Baker Hughes common stock that you own at the time of the merger (also called the Effective Time in the Transaction Agreement) will be converted into one share of Class A Common Stock ( Common Stock ) of New Baker Hughes. 3

4 On the Closing Date, New Baker Hughes will distribute as a special dividend (the Special Dividend ) an amount equal to $17.50 per share to the holders of record of the New Baker Hughes Common Stock. The Special Dividend will be paid to the account where you hold your stock and will follow your dividend investment elections. What happens to stock I purchase through the Employee Stock Purchase Program (ESPP)? At the Effective Time, without any action on your part, for each share of Baker Hughes common stock that you own at closing that you purchased through the ESPP in prior offering periods (your ESPP Shares ), you will receive one share of New Baker Hughes Common Stock. Immediately following the Effective Time, you will receive the Special Dividend of $17.50 for each share of New Baker Hughes Common Stock that you received for your ESPP Shares. We intend to continue offering participation in the ESPP in eligible countries for any offering periods that are completed prior to the Closing Date. If the closing occurs on a day other than the last day of an offering period, contributions for that offering period will be refunded to you (rather than being used to purchase shares). How will Thrift 401(k) Plan loans be impacted? The Baker Hughes Thrift Plan loan procedures will remain in place and unchanged until further notice. As the integration planning process continues, loan procedures will be reviewed in detail and, after careful review, final decisions will be made and communicated. There are no decisions to report at this time. How will retirement benefits be impacted? Baker Hughes U.S. retirement benefits under the Thrift 401(k) Plan and the Pension Plan will remain in place and unchanged until further notice. This means that employees can continue to contribute, receive company contributions, process distributions, and accumulate retirement vesting time as the rules apply today. Keep in mind that any vested amounts cannot be taken away under any circumstances. If the Thrift 401(k) Plan or the Pension Plan is terminated following the proposed merger, any employee who is not fully vested under the terms of the plan would become fully vested on the plan termination date. Any termination of the 401(k) or Pension Plan could occur on the same date as the merger or another date. As the integration planning process continues, all benefit programs will be reviewed in detail and, after careful review, final decisions will be made and communicated. There are no decisions to report at this time. Will my employment contract carry over to the new company, or will I be required to sign a new contract with the New Baker Hughes? In most cases and subject to local laws, employee contracts will remain in effect. Employees hired after the deal closes, or employees whose employment contracts come up for renewal after the deal closes, may need to sign a new contract. Why did the company name on my paycheck advice recently change? As part of its integration planning process, Baker Hughes is converting some of its legal entities to limited liability companies. As that occurs, the affected legal entities names will change. For example, Baker Hughes Oilfield Operations Inc. will change its name to Baker Hughes Oilfield Operations LLC and Baker Hughes Services International, Inc. will change its name to Baker Hughes Services International LLC. Employees may notice the name change on their paycheck advice or on their end-of-year tax statements. This is a planned step of the integration planning process and not a cause for any concern. 4

5 Why did the company name on my paycheck advice recently change? As part of its integration planning process, Baker Hughes is converting some of its legal entities to limited liability companies. As that occurs, the affected legal entities names will change. For example, Baker Hughes Oilfield Operations Inc. will change its name to Baker Hughes Oilfield Operations LLC and Baker Hughes Services International, Inc. will change its name to Baker Hughes Services International LLC. Employees may notice the name change on their paycheck advice or on their end-of-year tax statements. This is a planned step of the integration planning process and not a cause for any concern. How will the ICP and PIP bonuses be handled at close? The Incentive Compensation Program (ICP) will be prorated at target or expected value (EV) and the Profit Incentive Program (PIP) payout will be prorated at 4%. For example, if the close were to occur in July 2017 then your projected annual bonus, at target or EV for ICP and at 4% for PIP, would be divided by 12 and multiplied by 7 to calculate your prorated payout. The payout will be processed shortly after close through payroll. What happens to the Sales Incentive Plans at close? All Sales Incentive Plans will remain in place and unchanged immediately after the deal closes. There will be no prorated or guaranteed payments made at time of close plans will follow same goals/payment schedules for the period in which the closing occurs as originally stated. 5

6 Compensation & Benefits Legacy GE Oil & Gas Jump to Question: What happens to my existing benefit program, including pension/retirement, healthcare, and other country specific benefits? I currently participate in PERFORM or AEIP - What happens to my bonus program? I am eligible for a Sales Incentive Plan. Will there be any changes? What happens to my existing GE equity awards? I currently participate in GE shares what happens with these shares and this program? What happens to my current priorities and my PD@GE profile? What happens to my existing benefit program, including pension/retirement, healthcare, and other country specific benefits? Your current participation in GE s benefit, health and retirement plans will continue and remain unchanged post close. GE continues to reserve the right to make changes to employee benefit and retirement programs in the future in its discretion in accordance with applicable law. I currently participate in PERFORM or AEIP - What happens to my bonus program? For the portion of 2017 up to the close of the transaction, your bonus, either under AEIP or Perform, will be calculated based on results achieved, but not paid until the defined payout date (Spring 2018). If you participate in AEIP and are employed in the U.S., you will still have the option of deferring this part of your bonus if you elect to do so. For the portion of 2017 following the close of the transaction, a new bonus plan will be put in place for all eligible employees of Baker Hughes, a GE company (BHGE). The BHGE bonus plan will have a new design and new financial measures that will be set out under the plan to be achieved. More details will be communicated to participants post close. There will be no change to your existing target participation level. I am eligible for a Sales Incentive Plan. Will there be any changes? No, there are no changes to the Sales Incentive Plans for What happens to my existing GE equity awards? Any existing stock options or RSU awards granted from GE Oil & Gas or GE will continue to vest as normal. Employees will still be able to see and transact on their stock portfolios using the existing UBS account via the onehr page. Baker Hughes, a GE company, will have in place a new Long Term Incentive Plan. Any new awards will be granted via Baker Hughes, a GE company and vesting schedules will be communicated with the new awards. I currently participate in GE shares what happens with these shares and this program? The GE Shares program will continue for a period of time post close, the exact date of continuation will depend on the country in which you are employed. The GE Shares program is 6

7 expected to be replaced post close with a new BHGE equity plan and the design of the new program will be communicated to employees of BHGE once approved. Make sure to leverage the People Leaders, the HR integration guides and the Day 1 FAQ, and don t forget to review the BHGE HR Integration section in OneHR, this page will be constantly updated with relevant information about our integration. What happens to my current priorities and my PD@GE profile? PD@GE will still be used in Baker Hughes, a GE Company, and current priorities will remain unchanged after close. 7

8 Global Mobility Jump to Question: How will communication be distributed to current international assignees regarding any changes in policy and / or packages? When will the legacy GE and legacy BHI policies harmonized? In general, are GE's global mobility employee policies more comprehensive than BHI's? What policy will be offered to new global mobility employees? Who handles cases that are currently in process, versus new cases, and extensions? Who will manage year-end taxes? Who will support Global Mobile Employees (global mobility employees) in BHGE? What vendors are in place to support the Global Mobility program? Is the length of my assignment going to change? Do I need to sign a new assignment agreement with the new company? How will my assignment expenses be paid? Is my assignment package changing? Can the provisions of an assignment be altered with the switch to the new company? If an assignment end date coincides with key integration dates, how will this impact the assignment? Will there be a blackout period for any assignment changes, including start, end, or change of assignment? What are the benefits of utilizing Global Employment Companies (GECs) for mobilizing global mobility employees? Who do I contact if I have employment tax or social security questions? Who do I contact to request details of foreign taxes paid on my behalf by the company? How will communication be distributed to current international assignees regarding any changes in policy and / or packages? HR and employees will receive advance notice via regarding any changes to policies and / or packages before changes are implemented. When will the legacy GE and legacy BHI policies harmonized? After close, the policies of both GE and BHI will be fully reviewed and a new policy drafted for BHGE. Existing assignees will remain in their current packages in the interim. Once the new policy is in place, all new assignments will be follow new policy. It is not anticipated that the current assignees will have their packages harmonized for at least one year post close. In general, are GE's global mobility employee policies more comprehensive than BHI's? Both GE s and BHI s packages are competitive and aligned. There are variances between the policies and practices which will be reviewed with an ultimate goal to harmonize the legacy populations. What policy will be offered to new global mobility employees? 8

9 Until a harmonized policy is implemented to support BHGE s international assignment strategy, legacy employer will dictate the use of policy for subsequent assignments for existing global mobility employees. New assignments will leverage BHI s existing assignment policy. Who handles cases that are currently in process, versus new cases, and extensions? The processes remain the same for both legacy organizations until the process can be harmonized. Who will manage year-end taxes? PwC will continue to provide tax compliance support for the duration of the assignment. Who will support Global Mobile Employees (global mobility employees) in BHGE? Post close, there will be a parallel process in place to manage global mobility employee s. Employees will continue to contact legacy employer's global mobility partners for assignmentrelated questions. GE Oil & Gas Cynthia Larios (See employee directory for contact info) Baker Hughes Sara Pazos - WH sara.pazos@bakerhughes.com Caroline Bezodis - EARC caroline.bezodis@bakerhughes.com Melinda Money - MEAP melinda.money@bakerhughes.com What vendors are in place to support the Global Mobility program? Current legacy company assignment related vendors (relocation, tax, immigration) will remain in place until harmonized. Is the length of my assignment going to change? Any current assignment will continue as business needs dictate. Do I need to sign a new assignment agreement with the new company? For an existing assignment, it is not anticipated that employees will need to sign a new agreement. Any new assignments will follow the usual protocols, including a new assignment agreement. How will my assignment expenses be paid? Assignment expenses will continue to be processed as per current process. 9

10 Is my assignment package changing? It is not anticipated that the current assignment packages will be harmonized for at least one year post close. Can the provisions of an assignment be altered with the switch to the new company? All assignment benefits currently in place will be maintained. If an assignment end date coincides with key integration dates, how will this impact the assignment? Each situation is evaluated on a case by case basis. Contact a GMS representative to discuss. Will there be a blackout period for any assignment changes, including start, end, or change of assignment? No blackout period is anticipated. Business needs will continue to drive the decision. What are the benefits of utilizing Global Employment Companies (GECs) for mobilizing global mobility employees? - Global benefits - Cohesive policies - Streamlined administration and payroll - Employment tax compliance management - Simplified rebilling of employee costs - Ease of employing labor Who do I contact if I have employment tax or social security questions? GE Oil & Gas PwC (see an HR representative for contact info) Baker Hughes Harish Reddy - ERC & MEAP +971 (4) harish.reddy@bakerhughes.com Daniel Catelan - WH daniel.catelan@bakerhughes.com Sandhya Govindan - Africa +971 (4) sandhya.govindan@bakerhughes.com Who do I contact to request details of foreign taxes paid on my behalf by the company? GE Oil & Gas PwC (see an HR representative for contact info) 10

11 Baker Hughes Allison Benjamin (See Employee Directory for contact info) 11

12 HR Ops Jump to Question: How will my Baker Hughes years of service be captured? What is OneHR? What is OHR? Will Baker Hughes employees follow the GE performance development process in 2017? Where should Baker Hughes employees, managers or HR go to get help on payroll and benefits, or personnel administration support for employees that have moved to GE payroll? Where should Baker Hughes employees, managers or HR go to get help on payroll and benefits, or personnel administration support, for employees that have not yet moved to GE payroll? Who can I talk to if I have questions about my payroll / benefits? How do I update my employee profile on OneHR? When will I be able to see all the information on OneHR that all GE employees are able to see? When can I apply for a GE job? How will my Baker Hughes years of service be captured? There are several dates that are maintained for all GE employees. Two key dates for legacy Baker Hughes employees are the Adjusted Service Date and the Acquired Service Date. The Adjusted Service Date is the effective date a legacy BHI employee started at GE. An employee s Acquired Service Date captures their BHI date of hire and bridges their prior service with BHI to their new GE service. For example, if an employee started with Baker in January of 2008, next year in January of 2018, they would be celebrating their 10 year anniversary with Baker Hughes, a GE Company. What is OneHR? OneHR is the GE one-stop-shop for HR and is accessible to Baker Hughes employees, HR and managers. The website, onehr.ge.com, provides access to HR news, tools and training information as well as payroll and benefits information for all employees who are on GE integrated payroll and benefit plans. Information available varies by role (HR, manager, and employee). What is OHR? OHR stands for Oracle HR and is the GE the master source of employee data for GE. Will Baker Hughes employees follow the GE performance development process in 2017? Legacy Baker Hughes employees currently participating in the Achieve goal setting and performance process will complete the 2017 review in Achieve. In 2018, all performance management for BHGE will be done in GE's performance management tool (PD). Where should Baker Hughes employees, managers or HR go to get help on payroll and benefits, or personnel administration support for employees that have moved to GE payroll? Employees, HR, and managers should go to onehr.ge.com. This is a "one-stop shop" for HR-related tools and support, including employee benefits information. From here, depending on the role, an employee can navigate to find self-service tools for raising tickets, launching processes, locating key contacts or viewing benefits information. 12

13 Where should Baker Hughes employees, managers or HR go to get help on payroll and benefits, or personnel administration support, for employees that have not yet moved to GE payroll? Employees, HR and managers of employees who have not yet transitioned should continue to use their Baker Hughes HR Service Center support and processes. Who can I talk to if I have questions about my payroll / benefits? If a legacy Baker Hughes employee has questions about individual payroll or benefits, they should contact the Baker Hughes HR Service Center (HRSC). How do I update my employee profile on OneHR? Employees can update their Employee Profile on- line by following the prompts on the page. Legacy Baker Hughes employees may want to consider copying and pasting data from People Link or Talent Profile into the Employee Profile. Employees will need GE SSO ID to access the OneHR site. When will I be able to see all the information on OneHR that all GE employees are able to see? The employee view on OneHR is tailored to the legal entity that employs each employee. OneHR will display more details when the processes listed are integrated. Full details on payroll and benefits will be viewable after the country goes live on GE payroll. When can I apply for a GE job? Effective Day 1 through to 12 months post-closing of the merger, BHGE employees will not be eligible to apply to other GE businesses, and employees from other GE businesses will not be considered eligible to apply to BHGE. Exceptions may exist for exceptional circumstances, or as may be required by applicable law, or if the employee is at risk of redundancy, or a part of the Digital Organization. 13

14 Immigration Jump to Question: What will happen to my immigration status as a result of the integration? If my job role or location changes immediately after the integration, will my work permit be affected? Will I need to update my work permit / visa? Where do I go to for immigration advice? Where can I get an update on the status of my case? How long will it take to get my new work permit? My work permit is currently in progress; will the application be impacted? My work permit is set to expire before the integration occurs. Will someone contact me about this? Can I use my own immigration provider? Will my dependents' visa be affected in any way? I have a visa and also have a planned leave of absence ("LOA") scheduled for the time around the integration. Is there anything I need to do in advance of going on leave? How can I request immigration support for a non-employee e.g. a consultant or contractor? Immigration paperwork was recently filed on my behalf. Will I be required to re-submit new documentation or file a new application with the immigration authorities? What will happen to my immigration status as a result of the integration? The BHI and GE Immigration Teams are working closely with Fragomen and / or their country immigration advisors to determine whether any immigration action will be required in each country as a result of the integration. If action is required for an employee's case, they will be contacted immediately after close. If my job role or location changes immediately after the integration, will my work permit be affected? Will I need to update my work permit / visa? Each country has its own immigration regulations. The Immigration Team is preparing details on requirements in each country and if a notification or amendment is required, this will be actioned accordingly when the change occurs. Where do I go to for immigration advice? Legacy BHI: Access go/immigration on the browser for immigration contacts for the inbound region being traveled to. Legacy GE: Contact the Immigration Center of Excellence specialist for the inbound region being traveled to and, in parallel, review the Short Term Travel Immigration Handbooks found under the 'Regional Information' tab of the Support Central site: supportcentral.ge.com/products/sup_products.asp?prod_id= Where can I get an update on the status of my case? Legacy BHI: Contact the immigration provider directly or access the case within Fragomen Connect. Legacy GE: Contact the legacy immigration team member. How long will it take to get my new work permit? Lead times for visas and work permits vary by country and depend on individual circumstances. 14

15 Legacy BHI: For specific guidance on timelines, contact the immigration provider directly or access go/immigration for regional immigration support. Legacy GE: The Immigration Center of Excellence recommends that employees review the Short Term Travel Immigration Handbook in the Immigration Support Central site. These handbooks are available under the Regional Information Tab in the Support Central site. Follow this link for more information: My work permit is currently in progress; will the application be impacted? It is unlikely that the application will be impacted. However, each country has its own immigration regulations and the Immigration Team will proactively review applications that are in-progress and advise of potential red flags and the available options. My work permit is set to expire before the integration occurs. Will someone contact me about this? Yes, either the immigration vendor or the legacy immigration team will contact the employee. Can I use my own immigration provider? All immigration applications and advice must be undertaken by the due diligence approved immigration providers for legacy BHI or GE employees. Will my dependents' visa be affected in any way? It is unlikely that the application will be impacted. However, each country has its own immigration regulations. The Immigration Team is preparing details on requirements in each country and if a notification or amendment is required, this will be actioned accordingly when the change occurs. I have a visa and also have a planned leave of absence ("LOA") scheduled for the time around the integration. Is there anything I need to do in advance of going on leave? Contact a GE or BHI Immigration team to discuss this or any travel plans. How can I request immigration support for a non-employee e.g. a consultant or contractor? The processes for immigration support for non-employees are detailed in both legacy immigration policies. Continue to follow these protocols for each legacy company until the policies are harmonized. Immigration paperwork was recently filed on my behalf. Will I be required to re-submit new documentation or file a new application with the immigration authorities? It depends on the situation. If needed, either HR or the appropriate immigration team member / Fragomen or immigration provider will contact the employee. 15

16 Learning & Development Jump to Question: When will the new career / learning programs be launched in my area? Will the current Career Development Programs be modified to suit both BHI and GE or will there be separate programs? Will my current training certifications with GE/BHI still be valid with the new organization? (For example, HSE, Legal, etc.) Should I print my training transcript or certificates and keep my own records or will all my records automatically transfer? Will I need to develop new competencies with the new company and require additional training? How do I know if a legacy GE Oil & Gas employee is qualified/certified in a specific area? How do I know if a legacy Baker Hughes employee is qualified/certified in a specific area? How do I register for Crotonville classes? Who approves for me to take training that has tuition associated to it? What is Service Max? How do I access GE training transcript? How do I access BHI training transcript? I have compliance training assigned do I need to complete it or wait for something new to be assigned? Will I be trained on GE equipment/services if I am a BHI employee? Will I be trained on Baker Hughes equipment/services if I am a GE employee? When will the new career / learning programs be launched in my area? We are in the process of harmonizing the best of legacy Baker Hughes and GE Oil & Gas to develop career and competence management programs for Baker Hughes, a GE Company. Until the final programs are launched, employees are directed to continue to work through the steps of their existing programs within their current Learning Management System (LMS). We expect this to occur by Q Will the current Career Development Programs be modified to suit both BHI and GE or will there be separate programs? We are in the process of harmonizing the best of legacy Baker Hughes Inc. and GE Oil & Gas to develop career and competence management programs for Baker Hughes, a GE Company. Until the final programs are launched, employees are directed to continue to work through the steps of their existing programs within their current Learning Management System (LMS). Will my current training certifications with GE/BHI still be valid with the new organization? (For example, HSE, Legal, etc.) Certifications remain valid within the legacy systems. Should I print my training transcript or certificates and keep my own records or will all my records automatically transfer There is no need for employees to print their transcripts as they will continue to be available through their current Learning Management System or certification tracking system. 16

17 Will I need to develop new competencies with the new company and require additional training? New competencies may be required for specific roles and will be communicated when necessary. These additional competencies may require training which will be coordinated through the manager and technical training organization. How do I know if a legacy GE Oil & Gas employee is qualified/certified in a specific area? This information will continue to be available through current Learning Management System or certification tracking system. Some examples below: 1 Drilling Field Service use Servicemax as a system of record for Training, Certification and Competency tracking as well 2 TP&S use GE Learning to book and track Learning. In addition, Field Service population, use Service Max to track Technical Training and technical & HSE Certification/Qualification needed to perform the job. 3 Pressure Control uses Service Max as a main platform to track competence and training How do I know if a legacy Baker Hughes employee is qualified/certified in a specific area? Managers can review Achieve Learning to review if an employees is qualified/certified. Managers of blended teams without access to Achieve should reach out to their HR representative. How do I register for Crotonville classes? Crotonville classes are only offered through nomination. Who approves for me to take training that has tuition associated to it? Currently all classes offered through Achieve are no charge. GE Learning courses that have cost associated will need to be approved by a manager as well as BUC and ADN numbers will be required for registration. What is Service Max? SMAx is a cloud/mobile based Platform currently used by Legacy GE Oil & Gas for Field Services People and Equipment Deployment capable to handle all the steps of the process: Demand, Assignment, Mobilization, Execution and Post Job Activities. Review is underway of how this platform can be used across all Baker Hughes, a GE Company. How do I access GE training transcript? Take the following steps in GE Learning: 1 Once on the GE Learning homepage, select Learning History 2 Select the date range (if desired) or keep the select set to all for the entire learning transcript 3 Select Export to PDF to download a copy of the Transcript/Learning History How do I access BHI training transcript? Legacy Baker Hughes employees can type Go/Achievehelp in their web browser to find help guides on how to retrieve their transcript. 17

18 I have compliance training assigned do I need to complete it or wait for something new to be assigned? Employees are required to complete all compliance training which is assigned to them in their current Learning Management System. Will I be trained on GE equipment/services if I am a BHI employee? Some legacy BHI employees may need training on legacy GE equipment. When this is required, the manager will work with the employee and training department to coordinate. Will I be trained on Baker Hughes equipment/services if I am a GE employee? Some legacy GE employees may need training on legacy BHI equipment. When this is required, the manager will work with the employee and training department to coordinate. 18

19 Regions HR Jump to Question: Will the LEAD program continue? Will my years of service from another GE company be added to my years of service with Baker Hughes to determine my BHGE years of service? Will my BHGE pension be a combination of my GE Aviation pension and Baker Hughes pension? Will there be any changes in the recognition program for employees who have 5, 10, 15 year anniversaries? When will individuals be informed if they are successful in securing a position and what that position will look like with the new company? Are holiday, leave, or vacation policies changing? Will the Legacy BHI LEAD program continue? The Baker Hughes LEAD program will continue as it currently functions today. Further communication will be sent to affected employees when the program is harmonized with GE legacy systems. Will my years of service from another GE company be added to my years of service with Baker Hughes to determine my BHGE years of service? Baker Hughes and GE both have policies that govern how employees get credit for prior service. Work is still being done to ensure that these policies are integrated in a smooth way. There will be further communication when that process is complete. Will my BHGE pension be a combination of my GE Aviation pension and Baker Hughes pension? GE and Baker Hughes pension programs are being reviewed in preparation for integration; further communication will be sent when the best solution is identified, most likely after close. Will there be any changes in the recognition program for employees who have 5, 10, 15 year anniversaries? There will be no changes to the program due to the integration. Over time, we will be harmonizing the GE and Baker Hughes processes and programs. More information will be shared in the future when a final decision is made. When will individuals be informed if they are successful in securing a position and what that position will look like with the new company? With the exception of senior positions at Baker Hughes, a GE company, there will be no changes to employee roles and responsibilities on at close. We will not be sending out individual letters confirming roles the expectation is that employees will continue in the positions they have today. We are currently working to fill the leadership positions within Baker Hughes, a GE company, along with 2-3 levels below. The employees being considered for these roles will be engaged. Are holiday, leave, or vacation policies changing? On Day 1, all paid time off (PTO) policies remain the same for legacy organizations. Holidays, vacation, and other forms of leave remain the same until country benefits are integrated. 19