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GE to Pay Departing CFO Up to a Year's Salary in Severance

Incoming CFO Jamie Miller's salary will be $1.45M.

General Electric Co. will pay departing Chief Financial Officer Jeff Bornstein as much as a year’s salary after he leaves the company at the end of the year.

Bornstein, who earns a base salary of $1.78 million, will also be subject to a 12-month agreement not to work for a competitor, GE said in a regulatory filing Tuesday. Bornstein and Vice Chair Beth Comstock, who is retiring, will leave the company with their 2017 cash bonuses, the amounts of which haven’t yet been disclosed, plus pro-rated performance awards for 2016.

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