Immelt’s salary rose to $3.75 million while his cash bonus increased to $5.4 million. The GE board’s management development and compensation committee “believes that Mr. Immelt performed very well in 2014 and, as a result, awarded him a $5.4 million cash bonus,” GE said in its proxy statement. According to the proxy, the compensation committee early in 2014 raised Immelt’s base salary, effective March 1 of last year, noting that it was Immelt’s second salary increase since 2005.