General Electric Co. paid Jeffrey Immelt a $4 million cash bonus in 2010, after two years when the chief executive of the largest U.S. conglomerate declined a payout in the face of sliding profits.

The payout, which boosted Immelt’s total compensation to $21.42 million from $9.89 million in 2009, came in a year that the world’s biggest maker of jet engines and electric turbines broke a two-year profit slump and saw its shares rebound.

Immelt got a $5.8 million bonus in 2007, the last year he accepted one. In 2010, he also received a special equity grant of 2 million stock options, according to a regulatory filing.