Culp’s four-year contract paid him an annual salary of $2.5 million, plus a target bonus equal to 150 percent of his base salary, or another $3.75 million. He was also given an annual stock grant valued at $15 million. In addition to Culp’s roughly $21 million in annual compensation for each of his four years, he received a stunning one-time “inducement award” of between 2.5 million and 7.5 million GE shares, with the shares coming to him in 2.5 million–share chunks after the GE stock increased by a specific amount.
