General Electric hands former CEO John Flannery $10 mn exit package

General Electric Co.’s former chief executive officer, John Flannery, will collect an exit package worth more than $10 million after his abrupt departure from the beleaguered manufacturer.

Flannery will get $4.25 million in severance, and vesting restrictions will be lifted on equity awards worth at least $3.75 million that he was previously given, the company said in a regulatory filing Friday. That comes on top of pension benefits worth at least $21.9 million that the longtime GE executive can start collecting at age 60, plus about $2.16 million in deferred compensation.

GE announced on October 1 that Flannery, 57, would step down