Document:

Form of Floating Rate Convertible Senior Debenture Due 2023

 EXHIBIT 4s 
  

(FACE OF DEBENTURE) 
  
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE
THEREOF. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE
& CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT
NOT IN PART, TO NOMINEES OF THE DEPOSITORY TRUST COMPANY, OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH
IN ARTICLE TWO OF THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
  
 THIS SECURITY AND THE SHARES OF THE ISSUER’S COMMON STOCK ISSUABLE UPON CONVERSION OF THIS SECURITY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS.
NEITHER THIS SECURITY, THE SHARES OF COMMON STOCK ISSUABLE UPON CONVERSION OF THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN OR THEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE
ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION. 
  
 THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE
RESTRICTION TERMINATION DATE”) THAT IS TWO YEARS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY) ONLY
(A) TO THE ISSUER OR ANY SUBSIDIARY THEREOF, (B) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE 

  

 
FOR RESALE PURSUANT TO RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE
SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHICH NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (C) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN
DECLARED EFFECTIVE UNDER THE SECURITIES ACT, OR (D) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE RIGHTS OF THE ISSUER AND THE WITHIN MENTIONED TRUSTEE PRIOR TO ANY SUCH OFFER, SALE
OR TRANSFER PURSUANT TO CLAUSE (D) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, AND IN EACH OF THE FOREGOING CASES WHERE REGISTRATION OR TRANSFER OF THIS SECURITY IS REQUIRED,
A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THE OTHER SIDE OF THIS SECURITY IS COMPLETED AND DELIVERED BY THE TRANSFEROR TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED AFTER THE RESALE RESTRICTION TERMINATION DATE UPON THE REQUEST OF THE HOLDER
AND THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATES AND/OR OTHER INFORMATION SATISFACTORY TO THE ISSUER. 
  
 BRISTOL-MYERS SQUIBB COMPANY 
  
 FLOATING RATE CONVERTIBLE SENIOR DEBENTURES DUE 2023 
  
 Principal Amount: $200,000,000 (or such lesser amount 
 as shown on Schedule I hereto) 
  
 No. R-3 
  

	 Issue Date: October 3, 2003
	 	 	 	CUSIP NO.: 10122AM0

  
 BRISTOL-MYERS SQUIBB
COMPANY, a Delaware corporation (the “Issuer”), for value received, hereby promises to pay to Cede & Co., or registered assigns, the Principal Amount (as defined in the Indenture referred to on the reverse side of this Security)
on September 15, 2023. 
  
 This Security shall bear interest as
specified on the reverse side of this Security and in the Indenture. This Security is convertible and is subject to redemption at the option of the Issuer or purchase at the option of the Holder hereof, all as specified on the reverse side of this
Security and in the Indenture. 
  

 -2- 

 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof,
which further provisions shall for all purposes have the same effect as if set forth at this place. 
  

 -3- 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be duly executed under its corporate seal.

  
 Dated: October 3, 2003 
  

		
	By:	 	 
	 	

	 	 	 Name:
	 	Andrew R. J. Bonfield
	 	 	 Title:
	 	Senior Vice President and
Chief Financial Officer

  

	 BRISTOL-MYERS SQUIBB COMPANY

		
	By:	 	 
	 	

	 	 	 Name:
	 	Harrison M. Bains, Jr.
	 	 	 Title:
	 	Vice President and Treasurer

  

 -4- 

 This is one of the Floating Rate Convertible Senior Debentures due 2023 described in the within-mentioned
Indenture. 
  
 Dated: October 3, 2003 
  

	 JPMORGAN CHASE BANK, as Trustee

		
	By:	 	 
	 	

	 	 	 Name:
	 	L. O’Brien
	 	 	 Title:
	 	Vice President

  

 -5- 

 REVERSE OF DEBENTURE 
  
 Floating Rate Convertible Senior Debentures due 2023 
  
 This Security is one of a duly authorized issue of securities of the Issuer (herein called the
“Securities”) limited in aggregate Principal Amount to $1,000,000,000 ($1,200,000,000 aggregate Principal Amount if the Initial Purchasers exercise in full their option to purchase additional Securities), issued under an Indenture,
dated as of October 1, 2003 (the “Indenture”), among the Issuer and JPMorgan Chase Bank, as Trustee (the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all
indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Issuer, the Trustee and the Holders of the Securities and of the terms upon which the
Securities are, and are to be, authenticated and delivered. Capitalized terms used and not otherwise defined in this Security are used as defined in the Indenture. 
  
 1. Interest. 
  
 This Security will bear interest from October 1, 2003 or from the most recent date to which interest has been paid or duly provided for,
quarterly in arrears on March 15, June 15, September 15 and December 15 of each year (each, an “Interest Payment Date”), subject to Section 15.13 of the Indenture, commencing December 15, 2003, at the rate per annum equal to 3-month
LIBOR reset quarterly on each Interest Reset Date, minus 0.50%, except that interest for the interest period from October 1, 2003 to but excluding December 15, 2003 will be 0.64%. Regardless of the level of 3-month LIBOR, however, the annual rate of
interest on the Securities will never be less than zero. Interest on this Security shall be calculated on the basis of a 360-day year and the actual number of days elapsed during the related Interest Period. Interest payable on this Security on any
Interest Payment Date will include interest for the immediately preceding Interest Period. The interest so payable and punctually paid or duly provided for on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in
whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the March 1, June 1, September 1 or December 1, as the case may be, immediately
preceding the relevant Interest Payment Date. Any interest that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date shall forthwith cease to be payable to the registered Holder hereof on the relevant Regular
Record Date by virtue of having been such Holder, and may be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted
Interest to be fixed by the Issuer, notice whereof shall be given to the Holders of Securities not less than 10 days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of
any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 
  

 -6- 

 2. Ranking. 
  
 The Securities will be senior unsecured obligations of the Issuer and will rank pari passu with all existing and future
unsubordinated indebtedness of the Issuer. 
  
 3. Interest on
Overdue Amounts. 
  
 If the Principal Amount
hereof or any portion of such Principal Amount is not paid when due (whether upon acceleration pursuant to Section 4.02 of the Indenture, upon the dates set for payment of the Redemption Price, Purchase Price or Fundamental Change Purchase Price or
upon the Stated Maturity Date of this Security) or if interest due hereon (including Liquidated Damages, if any) (or any portion of such interest), is not paid when due, then in each such case the overdue amount shall, to the extent permitted by
law, bear interest at the rate then borne by this Security, which interest shall accrue from the date such overdue amount was originally due to the date payment of such amount, including interest thereon, has been made or duly provided for. All such
interest shall be payable as set forth in the Indenture. 
  
 4.
Method of Payment. 
  
 Subject to the terms and
conditions of the Indenture, the Issuer will make payments in respect of Redemption Price, Purchase Price and Fundamental Change Purchase Price and at Stated Maturity Date to Holders who surrender Securities to a Paying Agent to collect such
payments in respect of the Securities; provided that, if any Redemption Date, Purchase Date or Fundamental Change Purchase Date is any day during the period from the close of business on any Regular Record Date immediately preceding any
Interest Payment Date to the close of business on such Interest Payment Date, accrued and unpaid interest (including Liquidated Damages, if any) shall be paid to the Holder of record as of the applicable Regular Record Date. The Issuer will pay cash
amounts in money of the United States that at the time of payment is legal tender for payment of public and private debts. However, the Issuer may make such cash payments by check payable in such money; provided that payment by wire transfer
of immediately available funds will be required with respect to principal of and interest on all Global Securities and all Securities of Holders of more than $25,000,000 aggregate Principal Amount of Securities that have requested such method of
payment and provided wire transfer instructions to the Issuer or the Paying Agent. If any Interest Payment Date (other than an Interest Payment Date coinciding with the Stated Maturity Date or earlier Redemption Date, Purchase Date or Fundamental
Change Purchase Date) falls on a day that is not a Business Day, such Interest Payment Date will be postponed to the next succeeding Business Day. If the Stated Maturity Date, Redemption Date, Purchase Date or Fundamental Change Purchase Date of
this Security would fall on a day that is not a Business Day, the required payment of interest, if any, and principal will be made on the next succeeding Business Day and no interest on such payment will accrue for the period from and after the
Stated Maturity Date, Redemption Date, Purchase Date or Fundamental Change Purchase Date to such next succeeding Business Day. 
  

 -7- 

 5. Paying Agent, Conversion Agent, Calculation Agent and Registrar. 
  
 Initially, the Trustee will act as Paying Agent, Conversion
Agent, Calculation Agent and Registrar. The Issuer may appoint and change any Paying Agent, Calculation Agent, Registrar or co-registrar without notice, other than notice to the Trustee. The Issuer or any of its Subsidiaries or any of their
Affiliates may act as Paying Agent, Registrar or co-registrar. 
  
 6. Indenture. 
  
 The terms of the
Securities include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as in effect from time to time (the “TIA”). The Securities are subject to all such terms, and
Holders are referred to the Indenture and the TIA for a statement of those terms. 
  
 7. Redemption at the Option of the Issuer. 
  
 No sinking fund is provided for the Securities. Prior to September 21, 2008, the Securities shall not be redeemable at the option of the Issuer. Beginning on September 21, 2008 and until the Stated Maturity Date, the
Securities are redeemable for cash as a whole, or from time to time in part, at the option of the Issuer at a Redemption Price equal to 100% of the Principal Amount of the Securities, plus accrued and unpaid interest (including Liquidated Damages,
if any) to, but excluding, the Redemption Date, as provided in Article 12 of the Indenture, unless such Redemption Date falls after a Regular Record Date and on or prior to the corresponding Interest Payment Date, in which case the Issuer shall pay
the full amount of accrued and unpaid interest (including Liquidated Damages, if any) payable on such Interest Payment Date to the Holder at the close of business on such Regular Record Date. 
  
 If the Issuer redeems less than all of the outstanding
Securities, the Trustee will select the Securities to be redeemed (i) by lot; (ii) pro rata; or (iii) by another method the Trustee considers fair and appropriate. If the Trustee selects a portion of a Holder’s Securities for partial redemption
and the Holder converts a portion of the same Securities, the converted portion shall be deemed, to the extent practicable, to be from the portion selected for redemption. 
  
 8. Notice of Redemption. 
  
 Notice of redemption will be mailed at least 30 days but not more than 60 days before the Redemption Date to each Holder of Securities to
be redeemed at the Holder’s registered address. If money sufficient to pay the Redemption Price of all Securities (or portions thereof) to be redeemed on the Redemption Date is deposited with the Paying Agent prior to or on the Redemption Date,
immediately after such Redemption Date interest shall cease to accrue on such Securities or portions thereof. 

  

 -8- 

 
Securities in denominations larger than $1,000 Principal Amount may be redeemed in part but only in integral multiples of $1,000. 
  
 9. Purchase by the Issuer at the Option of the Holder. 
  
 Each Holder has the right to require the Issuer to purchase
the Securities held by such Holder on September 15, 2008, 2013 and 2018, or if any such day is not a Business Day, the next succeeding Business Day (each, a “Purchase Date”). If required by any Holder, the Issuer shall purchase
Securities for cash at a Purchase Price equal to 100% of the Principal Amount thereof, plus accrued and unpaid interest (including Liquidated Damages, if any) to, but excluding, the Purchase Date, upon delivery of a Purchase Notice containing the
information set forth in the Indenture, at any time from the opening of business on the date that is 21 Business Days prior to such Purchase Date until the close of business on such Purchase Date and upon delivery of the Securities to the Paying
Agent by the Holder as set forth in the Indenture. 
  
 At the option of the Holder and subject to the terms and conditions of the Indenture, the Issuer shall purchase all or a portion of the Securities held by such Holder as of the date that is not less than 20 nor more than 35 Business Days
after the occurrence of a Fundamental Change occurring prior to the Stated Maturity Date for a Fundamental Change Purchase Price equal to 100% of the Principal Amount thereof, plus accrued and unpaid interest (including Liquidated Damages, if any)
to, but excluding, the Fundamental Change Purchase Date, unless such Fundamental Change Purchase Date falls after a Regular Record Date and on or prior to the corresponding Interest Payment Date, in which case the Issuer shall pay the full amount of
accrued and unpaid interest (including Liquidated Damages, if any) payable on such Interest Payment Date to the Holder at the close of business on such Regular Record Date. 
  
 Holders have the right to withdraw any Purchase Notice or Fundamental Change Purchase Notice, as the case
may be, by delivering to the Paying Agent a written notice of withdrawal in accordance with the provisions of the Indenture. 
  
 As provided in the Indenture, if cash sufficient to pay the Purchase Price or Fundamental Change Purchase Price, as the case may be, of
all Securities or portions thereof to be purchased as of the Purchase Date or the Fundamental Change Purchase Date, as the case may be, is deposited with the Paying Agent on the Business Day prior to or on the Purchase Date or the Fundamental Change
Purchase Date, as the case may be, all interest (including Liquidated Damages, if any) ceases to accrue on such Securities (or portions thereof) immediately after such Purchase Date or Fundamental Change Purchase Date, as the case may be, and the
Holder thereof shall have no other rights as such (other than the right to receive the Purchase Price or Fundamental Change Purchase Price, as the case may be, upon surrender of such Security). 
  

 -9- 

 10. Conversion. 
  

Subject to the terms of the Indenture, the Holder of a Security may convert the Security into shares of Common Stock at the Conversion
Rate. A Security in respect of which a Holder has delivered a Purchase Notice or a Fundamental Change Purchase Notice exercising the option of such Holder to require the Issuer to purchase such Security may be converted only if such notice of
exercise is withdrawn in accordance with the terms of the Indenture. The Conversion Rate for the Securities on any Conversion Date shall be determined as set forth in the Indenture. 
  
 The Issuer shall deliver to the Holder through the Paying Agent, no later than the third Business Day
following the date on which the Applicable Stock Price is determined, a certificate for the number of whole shares of Common Stock issuable upon the conversion and cash in lieu of any fractional shares. 
  
 A Holder may convert a portion of a Security if the
Principal Amount of such portion is $1,000 or an integral multiple of $1,000. No payment or adjustment shall be made for dividends on the Common Stock except as provided in the Indenture. On conversion of a Security, except for conversions during
the period from the close of business on any Regular Record Date immediately preceding any Interest Payment Date to the close of business on the Business Day immediately preceding such Interest Payment Date, in which case the Holder on such Regular
Record Date shall receive the interest payable on such Interest Payment Date, that portion of accrued and unpaid interest (including Liquidated Damages, if any) on the converted Security attributable to the period from the most recent Interest
Payment Date (or, if no Interest Payment Date has occurred, from the Issue Date) through the Conversion Date shall not be cancelled, extinguished or forfeited, but rather shall be deemed to be paid in full to the Holder thereof through delivery of
the Common Stock (together with the cash payment, if any, in lieu of fractional shares) in exchange for the Security being converted pursuant to the provisions hereof. 
  
 Securities or portions thereof surrendered for conversion during the period from the close of business on
any Regular Record Date immediately preceding any Interest Payment Date to the close of business on the Business Day immediately preceding such Interest Payment Date shall be accompanied by payment to the Issuer or its order, in New York Clearing
House funds or other funds acceptable to the Issuer, of an amount equal to the interest payable on such Interest Payment Date with respect to the Principal Amount of Securities or portions thereof being surrendered for conversion; provided
that no such payment need be made (1) if the Issuer has specified a Redemption Date that occurs during the period from the close of business on a Regular Record Date to the close of business on the Business Day immediately preceding the Interest
Payment Date to which such Regular Record Date relates, (2) if the Issuer has specified a Fundamental Change Purchase Date during such period or (3) to the extent of overdue interest or overdue Liquidated Damages, if any overdue interest or overdue
Liquidated Damages exists on the Conversion Date with respect to the Securities converted. 
  

 -10- 

 No fractional shares will be issued upon conversion; in lieu thereof, an amount will be
paid in cash based upon the Applicable Stock Price. 
  
 To convert a Security, a Holder must (a) complete and manually sign the conversion notice set forth below or a facsimile thereof and deliver such notice to the Paying Agent, (b) surrender the Security to the Paying Agent, (c) furnish
appropriate endorsements and transfer documents (including any certification that may be required under applicable law) if required by the Paying Agent, (d) pay any transfer or similar tax, if required, and (e) if required, pay funds equal to the
interest payable on the next Interest Payment Date. 
  
 The
Conversion Rate will be adjusted as set forth in Article 11 of the Indenture 
  
 11. Conversion Arrangement on Call for Redemption. 
  
 Any Securities called for redemption, unless surrendered for conversion before the close of business on the Business Day immediately
preceding the Redemption Date, may be deemed to be purchased from the Holders of such Securities at an amount not less than the Redemption Price, by one or more investment bankers or other purchasers who may agree with the Issuer to purchase such
Securities from the Holders, to convert them into Common Stock of the Issuer and to make payment for such Securities to the Trustee in trust for such Holders. 
  

12. Denominations; Transfer; Exchange. 
  
 The Securities are in fully registered form, without coupons, in denominations of $1,000 and integral multiples of $1,000. A Holder may
transfer or exchange Securities in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the
Indenture. The Registrar need not transfer or exchange any Securities selected for redemption (except, in the case of a Security to be redeemed in part, the portion of the Security not to be redeemed) or any Securities in respect of which a Purchase
Notice or Fundamental Change Purchase Notice has been given and not withdrawn (except, in the case of a Security to be purchased in part, the portion of the Security not to be purchased) or any Securities for a period of 15 days before the mailing
of a notice of redemption of Securities to be redeemed. 
  
 13.
Persons Deemed Owners. 
  
 The registered Holder
of this Security may be treated as the owner of this Security for all purposes. 
  

 -11- 

 14. Unclaimed Money or Securities. 
  
 The Trustee and the Paying Agent shall, upon the written request of the Issuer, return to the Issuer any
cash that remains unclaimed for two years after the date upon which the principal of or interest on such Security shall have become due and payable, subject to applicable unclaimed property law, together with interest, if any, thereon held by them
for the payment of the principal or Redemption Price or Purchase Price of or interest on such Security, provided, however, that to the extent that the aggregate amount of cash deposited by the Issuer pursuant to Section 3.01, Section
10.05, Section 12.03 or Section 13.03 exceeds the aggregate principal and interest or Redemption Price or Purchase Price due on the Securities or portions thereof which the Issuer is obligated to pay as of the applicable date, then promptly after
the Business Day following such date, the Trustee or the Paying Agent, as applicable, shall return any such excess to the Issuer. Thereafter, any Holder entitled to payment must look to the Issuer for payment as general creditors, unless an
applicable abandoned property law designates another Person. 
  
 15. Amendment; Waiver. 
  
 Subject to
certain exceptions set forth in the Indenture, (i) the Indenture or the Securities may be amended with the written consent of the Holders of at least a majority in aggregate Principal Amount of the Securities at the time outstanding and (ii) certain
Defaults may be waived with the written consent of the Holders of a majority in aggregate Principal Amount of the Securities at the time outstanding. The Issuer and the Trustee may amend the Indenture under certain circumstances without the consent
of the Holders, as described in the Indenture. 
  
 16. Defaults
and Remedies. 
  
 If an Event of Default occurs
and is continuing, the Trustee, or the Holders of at least 25% in aggregate Principal Amount of the Securities at the time outstanding, may declare all the Securities to be due and payable immediately. Certain events of bankruptcy or insolvency are
Events of Default that will result in the Securities becoming due and payable immediately upon the occurrence of such Events of Default. 
  
 Holders may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may refuse to enforce the
Indenture or the Securities unless it receives reasonable indemnity or security. Subject to certain limitations, Holders of a majority in aggregate Principal Amount of the Securities at the time outstanding may direct the Trustee in its exercise of
any trust or power. The Trustee may withhold from Holders notice of any continuing Default (except a Default in payment of amounts specified in Section 4.01(a) or (b) of the Indenture) if it determines that withholding notice is in their interests.

  

 -12- 

 17. Trustee Dealings with the Issuer. 
  
 Subject to certain limitations imposed by the TIA, the Trustee under the Indenture, in its individual or any
other capacity, may become the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Issuer or its Affiliates and may otherwise deal with the Issuer or its Affiliates with the same rights it would have
if it were not Trustee. 
  
 18. No Recourse Against Others.

  
 A director, officer, employee or stockholder,
as such, of the Issuer shall not have any liability for any obligations of the Issuer under the Securities or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Security, each
Holder waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities. 
  
 19. Authentication. 
  
 This Security shall not be valid until an authorized signatory of the Trustee manually signs the Trustee’s Certificate of
Authentication on the other side of this Security. 
  
 20.
Abbreviations. 
  
 Customary abbreviations may be
used in the name of a Holder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with right of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift
to Minors Act). 
  
 21. Governing Law. 
  
 THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN THE INDENTURE
AND THIS DEBENTURE. 
  
 The Issuer will furnish
to any Holder upon written request to the address below and without charge a copy of the Indenture. 
  
 Bristol-Myers Squibb Company 
 345 Park Avenue 
 New York, NY 10154 
 Attention: Sandra Leung, Esq. 
 Telecopy No.: 212-605-9622 
  

 -13- 

 Schedule I 
  
 [Include Schedule I only for a Global Security] 
  
 BRISTOL-MYERS SQUIBB COMPANY 
 Floating Rate
Convertible Senior Debentures due 2023 
  
 No. R-3 
  

	 Date

	  	 Principal Amount

	  	 Notation Explaining Principal
Amount Recorded

	  	 Authorized Signature of Trustee
or Depositary Custodian

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

				
	
	  	
	  	
	  	

  

 -14- 

 ASSIGNMENT FORM 
  

To assign this Security, fill in the form below: 
  
 For value received
                                        
                hereby sell(s), assign(s) and transfer(s) unto
                                        
                                        
(Please insert social security or other Taxpayer Identification Number of assignee) the within Security, and hereby irrevocably constitutes and appoints
                                        
                                        
                 attorney to transfer said Security on the books of the Issuer, with full power of substitution in the premises. 
  
 In connection with any transfer of the Security prior to the expiration of
the holding period applicable to sales thereof under Rule 144(k) under the Securities Act (or any successor provision), the undersigned confirms that such Security is being transferred: 
  

	 	 ̈	To Bristol-Myers Squibb Company or a subsidiary; or 

  

	 	 ̈	To a “qualified institutional buyer” in compliance with Rule 144A under the Securities Act of 1933, as amended; or 

  

	 	 ̈	Pursuant to a registration statement that has been declared effective under the Securities Act of 1933, as amended, and that continues to be effective at the time of transfer; or

  

	 	 ̈	Pursuant to and in compliance with another available exemption from the registration requirements of the Securities Act of 1933, as amended. 

  
 Unless one of the boxes is checked, the Trustee or Registrar will refuse
to register any of the Securities evidenced by this certificate in the name of any person other than the registered holder thereof. 
  
 Dated:
                                     
  
  

	
	 
	

	
	 
	

	 Signature(s)

	
	 Signature(s) must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Security registrar,
which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Security registrar in addition to, or in
substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.
  

	

	Signature Guarantee

  

 -15- 

 CONVERSION NOTICE 
  
 To convert this Security into Common Stock, check the box: 
  
 To convert only part of this Security, state the Principal Amount to be converted (which must be $1,000 or an integral multiple of $1,000):
$
                                        
                             
  
 If you want the stock certificate made out in another person’s name, fill in the form below: 
  
  

  
  

  

 (Insert other person’s
soc. sec. or tax ID no.) 
  
  

  
  

  

 (Print or type other
person’s name, address and zip code) 
  
 Your Signature:
                                        
                                        
             
  
 (Sign exactly as your name appears on the other side of this Security) 
  

 -16-Purchase Agreement dated 09/25/2003

 EXHIBIT 4t 
  

Bristol-Myers Squibb Company 
  
 Floating Rate Convertible Senior Debentures due 2023 
  

  
 Purchase
Agreement 
  
 September 25, 2003 
  
 Goldman, Sachs & Co., 
 J.P. Morgan Securities Inc., 
     As representatives of the several Purchasers 
     named in Schedule I hereto, 
 c/o Goldman,
Sachs & Co., 
 85 Broad Street, 
 New York, New York
10004. 
  
 Ladies and Gentlemen: 
  
 Bristol-Myers Squibb Company, a Delaware corporation (the
“Company”), proposes, subject to the terms and conditions stated herein, to issue and sell to the Purchasers named in Schedule I hereto (the “Purchasers”) an aggregate of $1,000,000,000 principal amount of Floating Rate
Convertible Senior Debentures due 2023, convertible into Common Stock, $0.10 par value (“Stock”) of the Company specified above (the “Firm Securities”) and, at the election of the Purchasers, up to an aggregate of $200 million
additional principal amount (the “Optional Securities”) (the Firm Securities and the Optional Securities which the Purchasers elect to purchase pursuant to Section 2 hereof are herein collectively called the “Securities”).

  
 The Purchasers and other holders (including subsequent
transferees) of Securities in registered form will be entitled to the benefits of the registration rights agreement, to be dated as of the First Time of Delivery (as defined in Section 4) (the “Registration Rights Agreement”), by and among
the Company and the Purchasers. Pursuant to the Registration Rights Agreement, the Company will agree to file with the United States Securities and Exchange Commission (the “Commission”) under the circumstances set forth therein a
registration statement under the United States Securities Act of 1933, as amended (the “Act”), relating to the resale of the Securities and shares of Stock initially issuable upon conversion of the Securities by holders thereof, and to use
its reasonable efforts to cause such shelf registration statement to be declared effective as provided therein. 
  

 1. The Company represents and warrants to, and agrees with, each of the Purchasers that: 
  
 (a) A preliminary offering circular, dated September 25,
2003 (the “Preliminary Offering Circular”), and an offering circular, dated September 25, 2003 (the “Offering Circular”), and the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2002, Quarterly
Reports on Form 10-Q for the fiscal quarters ended March 31, 2003 and June 30, 2003, and Current Reports on Form 8-K dated January 7, 2003, February, 27, 2003, March 10, 2003, April 29, 2003 (excluding any information furnished pursuant to Item 9 or
12 thereof), July 22, 2003 and July 24, 2003 (excluding any information furnished pursuant to Item 9 or 12 thereof), which are incorporated by reference in the Preliminary Offering Circular and the Offering Circular, have been prepared in connection
with the offering of the Securities and shares of the Stock issuable upon conversion thereof. Any reference to the Preliminary Offering Circular or the Offering Circular shall be deemed to refer to and include the Company’s most recent Annual
Report on Form 10-K and all subsequent documents filed with the Commission pursuant to Section 13(a), 13(c) or 15(d) of the United States Securities Exchange Act of 1934, as amended (the “Exchange Act”), on or prior to the date of the
Preliminary Offering Circular or the Offering Circular, as the case may be, and any reference to the Preliminary Offering Circular or the Offering Circular, as the case may be, as amended or supplemented, as of any specified date, shall be deemed to
include (i) any documents filed with the Commission pursuant to Section 13(a), 13(c) or 15(d) of the Exchange Act after the date of the Preliminary Offering Circular or the Offering Circular, as the case may be, and prior to such specified date and
(ii) any Additional Issuer Information (as defined in Section 5(f)) furnished by the Company prior to the completion of the distribution of the Securities; and all documents filed under the Exchange Act and so deemed to be included in the
Preliminary Offering Circular or the Offering Circular, as the case may be, or any amendment or supplement thereto are hereinafter called the “Exchange Act Reports”. The Exchange Act Reports, when they were or are filed with the
Commission, conformed or will conform in all material respects to the applicable requirements of the Exchange Act and the applicable rules and regulations of the Commission thereunder. The Preliminary Offering Circular or the Offering Circular and
any amendments or supplements thereto and the Exchange Act Reports did not and will not, as of their respective dates, contain an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein,
in the light of the circumstances under which they were made, not misleading; provided, however, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with
information furnished in writing to the Company by a Purchaser through Goldman, Sachs & Co. expressly for use therein; 
  
 (b) Neither the Company nor any of its Significant Subsidiaries, as defined in Rule 1-02(w) of Regulation S-X under the Act (the
“Significant Subsidiaries”), has sustained since the date of the latest audited financial statements incorporated by reference in the Offering Circular any material loss or interference with its business from fire, explosion, flood or
other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth or contemplated in the Offering Circular; and, since the respective dates as of which
information is given in the Offering Circular, there has not been any change in the capital stock or long-term debt of the Company or any of its Significant Subsidiaries or any material adverse change, or any development involving a prospective
material adverse change, in or affecting the general affairs, management, financial position, stockholders’ equity or results of operations of the 

  

 2 

 
Company and its subsidiaries, otherwise than as set forth or contemplated in the Offering Circular; 
  
 (c) The Company has been duly incorporated and is validly
existing as a corporation in good standing under the laws of the State of Delaware, with power and authority (corporate and other) to own its properties and conduct its business as described in the Offering Circular; 
  
 (d) The Company has an authorized capitalization as set
forth in the Offering Circular, and all of the issued shares of capital stock of the Company have been duly and validly authorized and issued and are fully paid and non-assessable; the shares of Stock initially issuable upon conversion of the
Securities have been duly and validly authorized and reserved for issuance and, when issued and delivered in accordance with the provisions of the Securities and the Indenture referred to below, will be duly and validly issued, fully paid and
non-assessable and will conform to the description of the Stock contained in the Offering Circular; 
  
 (e) The Securities have been duly authorized, and, when issued, duly authenticated pursuant to the Indenture and delivered to and paid for
by the Purchasers pursuant to this Agreement, will have been duly executed, authenticated, issued and delivered and will constitute valid and legally binding obligations of the Company entitled to the benefits provided by the Indenture, to be dated
as of October 1, 2003 (the “Indenture”), between the Company and JPMorgan Chase Bank, formerly The Chase Manhattan Bank, as Trustee (the “Trustee”), under which they are to be issued, which is substantially in the form previously
delivered to you; the Indenture has been duly authorized and, at the Time of Delivery, the Indenture will constitute a valid and legally binding instrument, enforceable in accordance with its terms, subject, as to enforcement, to bankruptcy,
insolvency, reorganization and other laws of general applicability relating to or affecting creditors’ rights and to general equity principles; and the Indenture conforms, and the Securities will conform, to the descriptions thereof contained
in the Offering Circular and will be in substantially the form previously delivered to you; 
  
 (f) None of the transactions contemplated by this Agreement (including, without limitation, the use of the proceeds from the sale of the
Securities) will violate or result in a violation of Section 7 of the Exchange Act, or any regulation promulgated thereunder, including, without limitation, Regulations G, T, U and X of the Board of Governors of the Federal Reserve System;

  
 (g) Prior to the date hereof, neither the
Company nor any of its affiliates has taken any action which is designed to or which has constituted or which might have been expected to cause or result in stabilization or manipulation of the price of any security of the Company in connection with
the offering of the Securities; 
  
 (h) The issue
and sale of the Securities and the compliance by the Company with all of the provisions of the Securities, the Indenture, the Registration Rights Agreement and this Agreement, and the consummation of the transactions herein and therein contemplated,
will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company is a
party or by which the Company is bound 

  

 3 

 
or to which any of the property or assets of the Company is subject, except for such breaches, violations and defaults that individually and in the aggregate
would not reasonably be expected to have a material adverse effect on the current or future consolidated financial position, stockholders’ equity or results of operations of the Company and its subsidiaries (a “Material Adverse
Effect”), (ii) result in any violation of the provisions of the Certificate of Incorporation or By-laws of the Company, or (iii) result in any violation of any statute or any order, rule or regulation of any court or governmental agency or body
having jurisdiction over the Company or any of its properties, except for such breaches, violations and defaults that individually and in the aggregate would not reasonably be expected to have a Material Adverse Effect; and no consent, approval,
authorization, order, registration or qualification of or with any such court or governmental agency or body is required for the issue and sale of the Securities or the consummation by the Company of the transactions contemplated by this Agreement,
the Registration Rights Agreement or the Indenture, except (i) such as is required to be obtained under the Act and the United States Trust Indenture Act of 1939 (the “Trust Indenture Act”) in connection with the transactions contemplated
by the Registration Rights Agreement, (ii) those which if not obtained would not have a Material Adverse Effect on the consummation by the Company of the transactions contemplated by this Agreement and (iii) such consents, approvals, authorizations,
registrations or qualifications as may be required under state securities or Blue Sky laws in connection with the purchase and distribution of the Securities by the Purchasers; 
  
 (i) The statements set forth in the Offering Circular under the captions “Description of
Debentures” and “Description of Common Stock”, insofar as they purport to constitute a summary of the terms of the Securities and the Stock, and under the caption “Plan of Distribution”, insofar as they purport to
describe the provisions of the laws and documents referred to therein, are accurate, complete and fair, and the statements made in the Offering Circular under the caption “Certain U.S. Federal Income Tax Considerations,” insofar as they
purport to describe the material consequences of an investment in the Securities, fairly summarize the matters therein described; 
  
 (j) Neither the Company nor any of its Significant Subsidiaries is in violation of its Certificate of Incorporation or By-laws or in
default in the performance or observance of any obligation, agreement, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which it is a party or by which it or any of
its properties may be bound, except for such violations that individually and in the aggregate would not reasonably be expected to have a Material Adverse Effect; 
  
 (k) Other than as set forth in the Offering Circular, there are no legal or governmental proceedings pending
to which the Company or any of its Significant Subsidiaries is a party or of which any property of the Company or any of its Significant Subsidiaries is the subject which, if determined adversely to the Company or any of its Significant
Subsidiaries, could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect; and, to the best of the Company’s knowledge, no such proceedings are threatened or contemplated by governmental authorities or
threatened by others; 
  
 (l) When the Securities
are issued and delivered pursuant to this Agreement, the Securities will not be of the same class (within the meaning of Rule 144A under the Act) as 

  

 4 

 
securities which are listed on a national securities exchange registered under Section 6 of the Exchange Act or quoted in a U.S. automated inter-dealer
quotation system; 
  
 (m) Except as described in
the Offering Circular, to the Company’s knowledge, the Company and its Significant Subsidiaries own, possess or have the right to employ sufficient patents, patent rights, licenses, inventions, copyrights, know-how (including trade secrets and
other unpatented and/or unpatentable proprietary or confidential information, software, systems or procedures), trademarks, service marks and trade names, inventions, computer programs, technical data and information (collectively, the
“Intellectual Property Rights”) reasonably necessary to conduct their businesses as now conducted. Neither the Company nor any of its Significant Subsidiaries has received any notice of infringement of or conflict with asserted rights of
others with respect to any of the Intellectual Property Rights except as would not reasonably be expected to, individually or in the aggregate, result in a Material Adverse Effect, whether or not arising from transactions in the ordinary course of
business. Except as described in the Offering Circular, to the Company’s knowledge the use of the Intellectual Property Rights in connection with the business and operations of the Company and its subsidiaries does not infringe on the rights of
any person, except as could not reasonably be expected to individually or in the aggregate result in a Material Adverse Effect; 
  
 (n) Neither the Company nor any of the Significant Subsidiaries (i) is in violation of any statute, or any rule, regulation, decision or
order of any governmental agency or body or any court relating to the use, disposal or release of hazardous or toxic substances or relating to the protection or restoration of the environment or human exposure to hazardous or toxic substances
(collectively, “environmental laws”), (ii) owns or operates any real property which, to its knowledge, is contaminated with any substance that is subject to any environmental laws, (iii) is, to its knowledge, liable for any off-site
disposal or contamination pursuant to any environmental laws or (iv) has received any written notice of any claim under any environmental laws and the Company is not aware of any pending investigation which could reasonably be expected to lead to
such a claim, in each such case, which violation, contamination, liability or claim could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect; 
  
 (o) The Company is subject to Section 13 or 15(d) of the Exchange Act; 
  
 (p) The Company is not and, after giving effect to the
offering and sale of the Securities, will not be an “investment company”, as such term is defined in the Investment Company Act of 1940, as amended (the “Investment Company Act”); 
  
 (q) Neither the Company nor any person acting on its behalf
has offered or sold the Securities by means of any general solicitation or general advertising within the meaning of Rule 502(c) under the Act; 
  
 (r) Within the preceding six months, neither the Company nor any other person acting on behalf of the Company has offered or sold to any
person any Securities, or any securities of the same or a similar class as the Securities, other than Securities offered or sold to the Purchasers hereunder. The Company will take reasonable precautions designed to insure that any offer or sale,
direct or indirect, in the United States or to any U.S. person (as defined in Rule 902 under the Act) of any Securities or any substantially similar security issued by the 

  

 5 

 
Company, within six months subsequent to the date on which the distribution of the Securities has been completed (as notified to the Company by Goldman,
Sachs & Co.), is made under restrictions and other circumstances reasonably designed not to affect the status of the offer and sale of the Securities in the United States and to U.S. persons contemplated by this Agreement as transactions exempt
from the registration provisions of the Act; and 
  
 (s) PricewaterhouseCoopers LLP, who have certified certain financial statements of the Company and its subsidiaries are independent public accountants as required by the Act and the rules and regulations of the Commission thereunder.

  
 2. Subject to the terms and conditions herein set forth, (a)
the Company agrees to issue and sell to each of the Purchasers, and each of the Purchasers agrees, severally and not jointly, to purchase from the Company, at a purchase price of 98.25% of the principal amount thereof, the principal amount of
Securities set forth opposite the name of such Purchaser in Schedule I hereto and (b) in the event and to the extent that the Purchasers shall exercise the election to purchase Optional Securities as provided below, the Company agrees to issue and
sell to each of the Purchasers, and each of the Purchasers agrees, severally and not jointly, to purchase from the Company, at the same purchase price set forth in clause (a) of this Section 2, that portion of the aggregate principal amount of the
Optional Securities as to which such election shall have been exercised (to be adjusted by you so as to eliminate fractions) determined by multiplying such aggregate principal amount of Optional Securities by a fraction, the numerator of which is
the maximum aggregate principal amount of Optional Securities which such Purchaser is entitled to purchase as set forth opposite the name of such Purchaser in Schedule I hereto and the denominator of which is the maximum aggregate principal amount
of Optional Securities which all of the Purchasers are entitled to purchase hereunder. 
  
 The Company hereby grants to the Purchasers the right to purchase at their election up to $200 million aggregate principal amount of Optional Securities, at the purchase price set forth in clause (a) of the first
paragraph of this Section 2. Any such election to purchase Optional Securities may be exercised by written notice from you to the Company, given within a period of 30 calendar days after the date of issuance of the Firm Securities, setting forth the
aggregate principal amount of Optional Securities to be purchased and the date on which such Optional Securities are to be delivered, as determined by you but in no event earlier than the First Time of Delivery (as defined in Section (4) hereof) or,
unless you and the Company otherwise agree in writing, earlier than two or later than ten business days after the date of such notice. 
  
 3. Upon the authorization by you of the release of the Firm Securities, the several Purchasers propose to offer the Firm Securities for sale upon the
terms and conditions set forth in this Agreement and the Offering Circular and each Purchaser hereby represents and warrants to, and agrees with the Company that: 
  
 (a) It will offer and sell the Securities only to persons who it reasonably believes are “qualified
institutional buyers” (“QIBs”) within the meaning of Rule 144A under the Act in transactions meeting the requirements of Rule 144A; 
  
 (b) It is an accredited investor within the meaning of Rule 501 under the Act; and 
  

 6 

 (c) It will not offer or sell the Securities by any form of general solicitation or
general advertising, including but not limited to the methods described in Rule 502(c) under the Act. 
  
 4. (a) The Securities to be purchased by each Purchaser hereunder will be represented by one or more definitive global Securities in book-entry form which
will be deposited by or on behalf of the Company with The Depository Trust Company (“DTC”) or its designated custodian. The Company will deliver the Securities to Goldman, Sachs & Co., for the account of each Purchaser, against payment
by or on behalf of such Purchaser of the purchase price therefor by certified or official bank check or checks, payable to the order of the Company in Federal (same-day) funds, by causing DTC to credit the Securities to the account of Goldman, Sachs
& Co. at DTC. The Company will cause the certificates representing the Securities to be made available to Goldman, Sachs & Co. and J.P. Morgan Securities Inc. for checking at least twenty-four hours prior to the Time of Delivery (as defined
below) at the office of DTC or its designated custodian (the “Designated Office”). The time and date of such delivery and payment shall be, with respect to the Firm Securities, 9:30 a.m., New York City time, on October 1, 2003 or such
other time and date as Goldman, Sachs & Co., J.P. Morgan Securities Inc. and the Company may agree upon in writing, and, with respect to the Optional Securities, 9:30 a.m., New York City time, on the date specified by Goldman, Sachs & Co.
and J.P. Morgan Securities Inc. in the written notice given by them of their election to purchase such Optional Securities, or such other time and date as Goldman, Sachs & Co., J.P. Morgan Securities Inc. and the Company may agree upon in
writing. Such time and date for delivery of the Firm Securities is herein called the “First Time of Delivery”, such time and date for delivery of the Optional Securities, if not the First Time of Delivery, is herein called the “Second
Time of Delivery”, and each such time and date for delivery is herein called a “Time of Delivery”. 
  
 (b) The documents to be delivered at the Time of Delivery by or on behalf of the parties hereto pursuant to Section 7 hereof, including
the cross-receipt for the Securities and any additional documents requested by the Purchasers pursuant to Section 7(l) hereof, will be delivered at such time and date at the offices of Sullivan & Cromwell LLP, 125 Broad Street, New York, New
York 10004 (the “Closing Location”), and the Securities will be delivered at the Designated Office, all at the Time of Delivery. A meeting will be held at the Closing Location at 2:00 p.m., New York City time, on the New York Business Day
next preceding the Time of Delivery, at which meeting the final drafts of the documents to be delivered pursuant to the preceding sentence will be available for review by the parties hereto. For the purposes of this Section 4, “New York
Business Day” shall mean each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in New York are generally authorized or obligated by law or executive order to close. 
  
 5. The Company agrees with each of the Purchasers: 
  
 (a) To prepare the Offering Circular in a form approved by
you; to make no amendment or any supplement to the Offering Circular which shall be disapproved by you promptly after reasonable notice thereof; and to furnish you with copies thereof; 
  
 (b) Promptly from time to time to take such action as you may reasonably request to qualify the Securities
and the shares of Stock issuable upon conversion of the Securities for offering and sale under the securities laws of such jurisdictions as you may request and to comply with such laws so as to permit the continuance of sales and dealings therein in
such jurisdictions for as long as may be necessary to complete the distribution of the Securities, provided that in connection therewith the 

  

 7 

 
Company shall not be required to qualify as a foreign corporation or to file a general consent to service of process in any jurisdiction; 
  
 (c) To furnish the Purchasers with four copies of the
Offering Circular and each amendment or supplement thereto signed by an authorized officer of the Company with the independent accountants’ report(s) in the Offering Circular, and any amendment or supplement containing amendments to the
financial statements covered by such report(s), signed by the accountants, and additional written and electronic copies thereof in such quantities as you may from time to time reasonably request, and if, at any time prior to the earlier of the
completion of the resale of the Securities and the expiration of nine months after the date of the Offering Circular, any event shall have occurred as a result of which the Offering Circular as then amended or supplemented would include an untrue
statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made when such Offering Circular is delivered, not misleading, or, if for any
other reason it shall be necessary during such same period to amend or supplement the Offering Circular, to notify you and upon your request to prepare and furnish without charge to each Purchaser and to any dealer in securities as many written and
electronic copies as you may from time to time reasonably request of an amended Offering Circular or a supplement to the Offering Circular which will correct such statement or omission or effect such compliance; 
  
 (d) The Company will not sell, offer for sale or solicit
offers to buy or otherwise negotiate in respect of any security (as defined in the Securities Act) that could be integrated with the sale of the Securities in a manner that could require the registration under the Securities Act of such Securities;

  
 (e) During the period beginning from the date
hereof and continuing until the date 90 days after the Time of Delivery, (i) not to offer, sell, contract to sell or otherwise dispose of, except as provided hereunder, any securities of the Company that are substantially similar to the Securities
or the Stock, including but not limited to any securities that are convertible into or exchangeable for, or that represent the right to receive, Stock or any such substantially similar securities (other than pursuant to employee stock option plans
existing on, or upon the conversion or exchange of convertible or exchangeable securities outstanding as of, the date of this Agreement), without your prior written consent; and (i) to use its best efforts to cause the Chief Executive Officer and
Chief Financial Officer of the Company to comply with the terms of the Lock-up Agreement (as defined below), not to grant any waivers or consents to non-compliance in connection therewith and to enforce its rights under each such agreement, in each
case unless and to the extent that it shall have obtained your prior consent; 
  
 (f) Not to be or become, at any time prior to the expiration of three years after the Time of Delivery, an open-end investment company, unit investment trust, closed-end investment company or face-amount certificate
company that is or is required to be registered under Section 8 of the Investment Company Act; 
  
 (g) So long as any of the Securities are “restricted securities” within the meaning of Rule 144(a)(3) under the Act, at any time
when the Company is not subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, for the benefit of holders from time to time of Securities, to furnish at its expense, upon request, to holders of Securities and prospective
purchasers of securities information (the “Additional Issuer Information”) satisfying the requirements of subsection (d)(4)(i) of Rule 144A under the Act; 
  

 8 

 (h) To use its best efforts to cause such Designated Securities to be eligible for the
PORTAL trading system of the National Association of Securities Dealers, Inc.; 
  
 (i) To furnish to the holders of the Securities as soon as practicable after the end of each fiscal year an annual report (including a
balance sheet and statements of income, stockholders’ equity and cash flows of the Company and its consolidated subsidiaries certified by independent public accountants) and, as soon as practicable after the end of each of the first three
quarters of each fiscal year (beginning with the fiscal quarter ending after the date of the Offering Circular), to make available to its stockholders consolidated summary financial information of the Company and its subsidiaries for such quarter in
reasonable detail; 
  
 (j) During a period of
five years from the date of the Offering Circular, to furnish to you copies of all reports or other communications (financial or other) furnished to stockholders of the Company, and to deliver to you (i) as soon as they are available, copies of any
reports and financial statements furnished to or filed with the Commission or any securities exchange on which the Securities or any class of securities of the Company is listed; and (ii) such additional information concerning the business and
financial condition of the Company as you may from time to time reasonably request (such financial statements to be on a consolidated basis to the extent the accounts of the Company and its subsidiaries are consolidated in reports furnished to its
stockholders generally or to the Commission); 
  
 (k) During the period of two years after the Time of Delivery, the Company will not, and will not permit any of its “affiliates” (as defined in Rule 144 under the Act) to, resell any of the Securities which constitute
“restricted securities” under Rule 144 that have been reacquired by any of them; 
  
 (l) To use the net proceeds received by it from the sale of the Securities pursuant to this Agreement in the manner specified in the
Offering Circular under the caption “Use of Proceeds”; 
  
 (m) To reserve and keep available at all times, free of preemptive rights, shares of Stock for the purpose of enabling the Company to satisfy any obligations to issue shares of its Stock upon conversion of the
Securities; 
  
 (n) To use its best efforts to
list, subject to notice of issuance, the shares of Stock issuable upon conversion of the Securities on the New York Stock Exchange; 
  
 (o) To cause the Chief Executive Officer and Chief Financial Officer of the Company to execute and deliver to the Company and to you a
lock-up agreement in substantially the form of Exhibit III attached hereto (each, a “Lock-up Agreement”); and 
  
 (p) To enter into and deliver to you the Registration Rights Agreement, to be dated as of the First Time of Delivery. 
  
 6. The Company covenants and agrees with the several Purchasers that the
Company will pay or cause to be paid the following: (i) the fees, disbursements and expenses of the Company’s counsel and accountants in connection with the issue of the Securities and the shares of Stock issuable upon conversion of the
Securities and all other expenses in connection with the preparation, printing and filing of the Preliminary Offering Circular and the Offering Circular and any amendments and supplements thereto and the mailing and delivering of copies thereof to
the Purchasers and 

  

 9 

 
dealers; (ii) the cost of printing or producing any Agreement among Purchasers, this Agreement, the Indenture, the Blue Sky and Legal Investment Memoranda,
closing documents (including any compilations thereof) and any other documents in connection with the offering, purchase, sale and delivery of the Securities; (iii) all expenses in connection with the qualification of the Securities and the shares
of Stock issuable upon conversion of the Securities for offering and sale under state securities laws as provided in Section 5(b) hereof, including the fees and disbursements of counsel for the Purchasers in connection with such qualification and in
connection with the Blue Sky and legal investment surveys; (iv) any fees charged by securities rating services for rating the Securities; (v) the cost of preparing the Securities; (vi) the fees and expenses of the Trustee and any agent of the
Trustee and the fees and disbursements of counsel for the Trustee in connection with the Indenture and the Securities; (vii) any cost incurred in connection with the designation of the Securities for trading in PORTAL and the listing of the shares
of Stock issuable upon conversion of the Securities; and (viii) all other costs and expenses incident to the performance of its obligations hereunder which are not otherwise specifically provided for in this Section. It is understood,
however, that, except as provided in this Section, and Sections 8 and 11 hereof, the Purchasers will pay all of their own costs and expenses, including the fees of their counsel, transfer taxes on resale of any of the Securities by them, and any
advertising expenses connected with any offers they may make. 
  
 7. The obligations of the Purchasers hereunder shall be subject, in their discretion, to the condition that all representations and warranties and other statements of the Company herein are, at and as of the Time of Delivery, true and
correct, the condition that the Company shall have performed all of its obligations hereunder theretofore to be performed, and the following additional conditions: 
  
 (a) Sullivan & Cromwell LLP, counsel for the Purchasers, shall have furnished to you such opinion or
opinions, dated the Time of Delivery, with respect to the matters covered in paragraphs (i), (ii), (iii), (iv), (v), (viii) and (ix) of subsection (b) below as well as such other related matters as you may reasonably request, and such counsel shall
have received such papers and information as they may reasonably request to enable them to pass upon such matters; 
  
 (b) Cravath, Swaine & Moore LLP, counsel for the Company, shall have furnished to you their written opinion, dated the Time of
Delivery, in form and substance satisfactory to you, to the effect that: 
  
 (i) Based solely on their review of a certificate from the Secretary of State of Delaware, the Company is validly existing as a corporation in good standing under the laws of the State of Delaware, with full power and
authority to own its properties and conduct its business as described in the Offering Circular; 
  
 (ii) This Agreement has been duly authorized, executed and delivered by the Company; 
  
 (iii) The Securities have been duly authorized; the
Securities have been duly executed and delivered and, when duly authenticated in accordance with the terms of the Indenture and delivered to and paid for by the Purchasers in accordance with the terms of this Agreement, will constitute valid and
legally binding obligations of the Company entitled to the benefits provided by the Indenture; and the Securities and the Indenture conform to the descriptions thereof in the Offering Circular; 
  

 10 

 (iv) The Indenture and the Registration Rights Agreement have been duly authorized,
executed and delivered by the Company and each constitutes a valid and legally binding instrument of the Company, enforceable in accordance with its terms, subject, as to enforcement, to bankruptcy, insolvency, reorganization, moratorium and other
laws of general applicability relating to or affecting creditors’ rights and to general equity principles including, without limitation, concepts of materiality, reasonableness, good faith and fair dealing, regardless of whether considered in a
proceeding in equity or at law; 
  
 (v) The
statements set forth in the Offering Circular under the captions “Description of Debentures” and “Description of Common Stock,” insofar as they purport to constitute a summary of the terms of the Securities and the Stock, and
under the caption “Plan of Distribution”, insofar as they purport to describe the provisions of the laws and documents referred to therein are accurate, complete and fair; 
  
 (vi) The statements made in the Offering Circular under the caption “Certain U.S. Federal Income Tax
Considerations,” insofar as they purport to describe the material consequences of an investment in the Securities, fairly summarize the matters therein described; 
  
 (vii) The Company is not an “investment company”, as such term is defined in the Investment
Company Act; 
  
 (viii) Although they do not
assume any responsibility for the accuracy, completeness or fairness of the statements contained in the Offering Circular, except for those referred to in the opinion in subsection (v) and (vi) of this Section 7(b), they have no reason to believe
that the Offering Circular (other than the financial statements and related schedules or information of a financial or accounting nature therein, as to which such counsel need express no opinion), as of the date thereof, contained an untrue
statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading or that, as of the Time of Delivery, the Offering Circular (other than the financial
statements and related schedules or information of a financial or accounting nature therein, as to which such counsel need express no opinion) contains an untrue statement of a material fact or omits to state a material fact necessary in order to
make the statements therein, in the light of the circumstances under which they were made, not misleading; and 
  
 (ix) No registration of the Securities under the Act, and no qualification of an indenture with respect thereto under the United States
Trust Indenture Act of 1939, is required for the offer, sale and initial resale of the Securities by the Purchasers in the manner contemplated by this Agreement; 
  
 (c) John L. McGoldrick, general counsel for the Company, shall have furnished to the Representatives his
written opinion, dated the Time of Delivery, in form and substance satisfactory to the Representatives, to the effect that: 
  
 (i) The Company has been duly incorporated and is validly existing as a corporation in good standing under the laws of the State of
Delaware, with power and authority to own its properties and conduct its business as described in the Offering Circular as amended or supplemented; 
  

 11 

 (ii) The Company has an authorized capitalization as set forth in the Offering Circular
as amended or supplemented and all of the issued shares of capital stock of the Company have been duly and validly authorized and issued and are fully paid and non-assessable; and the shares of Stock initially issuable upon conversion of the
Securities have been duly and validly authorized and reserved for issuance and, when issued and delivered in accordance with the provisions of the Securities and the Indenture, will be duly and validly issued and fully paid and non-assessable, and
will conform to the description of the Stock contained in the Offering Circular; 
  
 (iii) To the best of such counsel’s knowledge and other than as set forth in the Offering Circular, there are no legal or
governmental proceedings pending to which the Company or any of its Significant Subsidiaries is a party or of which any property of the Company or any of its Significant Subsidiaries is the subject which, if determined adversely to the Company or
any of its Significant Subsidiaries, would individually or in the aggregate have a material adverse effect on the consolidated financial position, stockholders’ equity or results of operations of the Company and its Significant Subsidiaries;
and, to the best of such counsel’s knowledge, no such proceedings are threatened or contemplated by governmental authorities or threatened by others; 
  
 (iv) Neither the Company nor any of its Significant Subsidiaries is in violation of its By-laws or Certificate of Incorporation or, to
such counsel’s knowledge, in default in the performance or observance of any obligation, agreement, covenant or condition contained in any contract, indenture, mortgage, loan agreement, note, lease or other instrument to which it is a party or
by which it or any of its properties may be bound, except for such violations and defaults that individually and in the aggregate would not reasonably be expected to have a Material Adverse Effect; 
  
 (v) The issue and sale of the Securities and the compliance
by the Company with all of the provisions of the Securities, the Indenture, this Agreement and the Registration Rights Agreement and the consummation of the transactions herein and therein contemplated will not (i) conflict with or result in a
breach or violation of any of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument known to such counsel to which the Company is a party or by which the
Company is bound or to which any of the property or assets of the Company is subject, except for such breaches, violations and defaults that individually and in the aggregate would not reasonably be expected to have a Material Adverse Effect, (ii)
result in any violation of the provisions of the Certificate of Incorporation or By-laws of the Company or (iii) result in any violation of any statute or any order, rule or regulation known to such counsel of any court or governmental agency or
body having jurisdiction over the Company or any of its properties, except for such breaches, violations and defaults that individually and in the aggregate would not reasonably be expected to have a Material Adverse Effect; 
  
 (vi) No consent, approval, authorization, order,
registration or qualification of or with any such court or governmental agency or body is required for the issue and sale of the Securities or the consummation by the Company of the transactions contemplated by this Agreement, the Indenture or the
Registration Rights Agreement, except such as may be required under the Act and the Trust Indenture Act in connection with the registration, pursuant to the Registration Rights Agreement, of the Securities and the shares of Stock issuable upon
conversion of the Securities, and those which if not obtained would not have a Material Adverse Effect on the consummation by the Company of the transactions contemplated by this Agreement, and such consents, approvals, authorizations, orders,
registrations or qualifications as may be required under state securities or Blue Sky laws in connection with the purchase and distribution of the Securities by the Purchasers; 
  

 12 

 (vii) Such counsel has no reason to believe that any of the Exchange Act Reports (other
than the financial statements and related schedules therein, as to which such counsel need express no opinion), when they became effective or were so filed, as the case may be, contained an untrue statement of a material fact or omitted to state a
material fact required to be stated therein or necessary to make the statements therein not misleading, or, in the case of other documents which were filed under the Act or the Exchange Act with the Commission, contained an untrue statement of a
material fact or omitted to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made when such documents were so filed, not misleading; 
  
 (viii) No registration of the Securities under the
Act, and no qualification of an indenture under the Trust Indenture Act with respect thereto, is required for the offer, sale and initial resale of the Securities by the Purchasers in the manner contemplated by this Agreement; and 
  
 (ix) Although such counsel does not assume any
responsibility for the accuracy, completeness or fairness of the statements contained in the Offering Circular, such counsel has no reason to believe that the Offering Circular (other than the financial statements and related schedules or
information of a financial or accounting nature therein, as to which such counsel need express no opinion), as of the date thereof, contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or
necessary to make the statements therein not misleading or that, as of the Time of Delivery, the Offering Circular (other than the financial statements and related schedules or information of a financial or accounting nature therein, as to which
such counsel need express no opinion) contains an untrue statement of a material fact or omits to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading;

  
 (d) On the date of the Offering Circular
prior to the execution of this Agreement and also at the Time of Delivery, PricewaterhouseCoopers LLP shall have furnished to you a letter or letters, dated the respective dates of delivery thereof, in form and substance satisfactory to you, to the
effect set forth in Exhibit II hereto; 
  
 (e)
(i) Neither the Company nor any of its Significant Subsidiaries shall have sustained since the date of the latest audited financial statements included in the Offering Circular any loss or interference with its business from fire, explosion, flood
or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth or contemplated in the Offering Circular, and (ii) since the respective dates as of which
information is given in the Offering Circular there shall not have been any change in the capital stock or long-term debt of the Company or any of its Significant Subsidiaries or any change, or any development involving a prospective change, in or
affecting the general affairs, management, financial position, stockholders’ equity or results of operations of the Company and its Significant Subsidiaries, otherwise than as set forth or contemplated in the Offering Circular, the effect of
which, in any such case described in clause (i) or (ii), is in the judgment of the Representatives so material and adverse as to make it impracticable or inadvisable to proceed with the public offering or the delivery of the Securities on the terms
and in the manner contemplated in this Agreement and in the Offering Circular; 
  
 (f) On or after the date hereof (i) no downgrading shall have occurred in the rating accorded the Company’s debt securities by any
“nationally recognized statistical rating organization”, as that 

  

 13 

 
term is defined by the Commission for purposes of Rule 436(g)(2) under the Act, and (ii) other than as already made public prior to the date hereof, no such
organization shall have publicly announced that it has under surveillance or review, with possible negative implications, its rating of any of the Company’s debt securities; 
  
 (g) On or after the date hereof, there shall not have occurred any of the following: (i) a suspension or
material limitation in trading in securities generally on the New York Stock Exchange; (ii) a suspension or material limitation in trading in the Company’s securities on the New York Stock Exchange; (iii) a general moratorium on commercial
banking activities declared by either Federal or New York State authorities or a material disruption in commercial banking or securities settlement or clearance services in the United States; (iv) the outbreak or escalation of hostilities involving
the United States or the declaration by the United States of a national emergency or war or (v) the occurrence of any other calamity or crisis or any change in financial, political or economic conditions in the United States or elsewhere, if the
effect of any such event specified in clause (iv) or (v) in the judgment of the Representatives makes it impracticable or inadvisable to proceed with the public offering or the delivery of the Securities on the terms and in the manner contemplated
in the Offering Circular; 
  
 (h) The
Securities have been designated for trading in PORTAL; 
  
 (i) The shares of Stock issuable upon conversion of the Securities shall have been duly listed, subject to notice of issuance, on the Exchange; 
  

(j) Each Lock-up Agreement shall have been duly executed and delivered to the Company and you, and there shall have occurred no breach
of any Lock-up Agreement; 
  
 (k) The Company
shall have executed and delivered to you the Registration Rights Agreement; and 
  
 (l) The Company shall have furnished or caused to be furnished to you at the Time of Delivery certificates of officers of the Company
satisfactory to you as to the accuracy of the representations and warranties of the Company herein at and as of such Time of Delivery, as to the performance by the Company of all of its obligations hereunder to be performed at or prior to such Time
of Delivery, as to the matters set forth in subsection (e) of this Section and as to such other matters as you may reasonably request. 
  
 8. (a) The Company will indemnify and hold harmless each Purchaser against any losses, claims, damages or liabilities, joint or several, to which such
Purchaser may become subject, under the Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact
contained in any Preliminary Offering Circular or the Offering Circular, or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact necessary to make the statements
therein not misleading, and will reimburse each Purchaser for any legal or other expenses reasonably incurred by such Purchaser in connection with investigating or defending any such action or claim as such expenses are incurred; provided,
however, that the Company shall not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in
any Preliminary Offering Circular or the Offering 

  

 14 

 
Circular or any such amendment or supplement in reliance upon and in conformity with written information furnished to the Company by any Purchaser through
Goldman, Sachs & Co. expressly for use therein; and provided, further, that the Company shall not be liable to any Purchaser under the indemnity agreement in this subsection (a) with respect to any Preliminary Offering Circular to the
extent that any such loss, claim, damage or liability of such Purchaser results from the fact that such Purchaser sold any Securities to a person as to whom it shall be established that there was not sent or given, at or prior to the written
confirmation of such sale, a copy of the Offering Circular (excluding documents incorporated by reference) or of the Offering Circular as then amended or supplemented (excluding documents incorporated by reference) in any case where such delivery is
required by the Act if the Company had previously furnished copies thereof in sufficient quantity to such Purchaser and the loss, claim, damage or liability of such Purchaser results from an untrue statement or omission of a material fact contained
in the Preliminary Offering Circular which was identified in writing at such time to such Purchaser and corrected in the Offering Circular (excluding documents incorporated by reference). 
  
 (b) Each Purchaser will indemnify and hold harmless the
Company against any losses, claims, damages or liabilities to which the Company may become subject, under the Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an
untrue statement or alleged untrue statement of a material fact contained in any Preliminary Offering Circular or the Offering Circular, or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to
state therein a material fact or necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in any
Preliminary Offering Circular or the Offering Circular or any such amendment or supplement in reliance upon and in conformity with written information furnished to the Company by such Purchaser through Goldman, Sachs & Co. expressly for use
therein; and will reimburse the Company for any legal or other expenses reasonably incurred by the Company in connection with investigating or defending any such action or claim as such expenses are incurred. 
  
 (c) Promptly after receipt by an indemnified party under
subsection (a) or (b) above of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection, notify the indemnifying party in writing of the
commencement thereof; but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to any indemnified party otherwise than under such subsection. In case any such action shall be brought against any
indemnified party and it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate therein and, to the extent that it shall wish, jointly with any other indemnifying party similarly
notified, to assume the defense thereof, with counsel satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party), and, after notice from the indemnifying party to
such indemnified party of its election so to assume the defense thereof, the indemnifying party shall not be liable to such indemnified party under such subsection for any legal expenses of other counsel or any other expenses, in each case
subsequently incurred by such indemnified party, in connection with the defense thereof other than reasonable costs of investigation. No indemnifying party shall, without the written consent of the indemnified party, effect the settlement or
compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified party is an actual or
potential party to such action or claim) unless such settlement, compromise or judgment (i) includes an 

  

 15 

 
unconditional release of the indemnified party from all liability arising out of such action or claim and (ii) does not include a statement as to, or an
admission of, fault, culpability or a failure to act, by or on behalf of any indemnified party. 
  
 (d) If the indemnification provided for in this Section 8 is unavailable to or insufficient to hold harmless an indemnified party under
subsection (a) or (b) above in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a
result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and the Purchasers on the other from the offering of
the Securities to which such loss, claim, damage or liability (or action in respect thereof) relates. If, however, the allocation provided by the immediately preceding sentence is not permitted by applicable law or if the indemnified party failed to
give the notice required under subsection (c) above, then each indemnifying party shall contribute to such amount paid or payable by such indemnified party in such proportion as is appropriate to reflect not only such relative benefits but also the
relative fault of the Company on the one hand and the Purchasers on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant
equitable considerations. The relative benefits received by the Company on the one hand and the Purchasers on the other shall be deemed to be in the same proportion as the total net proceeds from the offering (before deducting expenses) received by
the Company bear to the total underwriting discounts and commissions received by the Purchasers, in each case as set forth in the Offering Circular. The relative fault shall be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company on the one hand or the Purchasers on the other and the parties’ relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or omission. The Company and the Purchasers agree that it would not be just and equitable if contribution pursuant to this subsection (d) were determined by pro rata
allocation (even if the Purchasers were treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable considerations referred to above in this subsection (d). The amount paid or payable by
an indemnified party as a result of the losses, claims, damages or liabilities (or actions in respect thereof) referred to above in this subsection (d) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified
party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this subsection (d), no Purchaser shall be required to contribute any amount in excess of the amount by which the total price at which
the Securities underwritten by it and distributed to investors were offered to investors exceeds the amount of any damages which such Purchaser has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or
alleged omission. The Purchasers’ obligations in this subsection (d) to contribute are several in proportion to their respective underwriting obligations and not joint. 
  
 (e) The obligations of the Company under this Section 8 shall be in addition to any liability which the
Company may otherwise have and shall extend, upon the same terms and conditions, to each person, if any, who controls any Purchaser within the meaning of the Act; and the obligations of the Purchasers under this Section 8 shall be in addition to any
liability which the respective Purchasers may otherwise have and shall extend, upon the same terms and conditions, to each officer and director of the Company and to each person, if any, who controls the Company within the meaning of the Act.

  

 16 

 9. (a) If any Purchaser shall default in its obligation to purchase the Securities which it has agreed to
purchase hereunder, you may in your discretion arrange for you or another party or other parties to purchase such Securities on the terms contained herein. If within thirty-six hours after such default by any Purchaser you do not arrange for the
purchase of such Securities, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties satisfactory to you to purchase such Securities on such terms. In the event that, within
the respective prescribed periods, you notify the Company that you have so arranged for the purchase of such Securities, or the Company notifies you that it has so arranged for the purchase of such Securities, you or the Company shall have the right
to postpone the Time of Delivery for a period of not more than seven days, in order to effect whatever changes may thereby be made necessary in the Offering Circular, or in any other documents or arrangements, and the Company agrees to prepare
promptly any amendments to the Offering Circular which in your opinion may thereby be made necessary. The term “Purchaser” as used in this Agreement shall include any person substituted under this Section with like effect as if such person
had originally been a party to this Agreement with respect to such Securities. 
  
 (b) If, after giving effect to any arrangements for the purchase of the Securities of a defaulting Purchaser or Purchasers by you and the
Company as provided in subsection (a) above, the aggregate principal amount of such Securities which remains unpurchased does not exceed one-eleventh of the aggregate principal amount of all the Securities, then the Company shall have the right to
require each non-defaulting Purchaser to purchase the principal amount of Securities which such Purchaser agreed to purchase hereunder and, in addition, to require each non-defaulting Purchaser to purchase its pro rata share (based on the principal
amount of Securities which such Purchaser agreed to purchase hereunder) of the Securities of such defaulting Purchaser or Purchasers for which such arrangements have not been made; but nothing herein shall relieve a defaulting Purchaser from
liability for its default. 
  
 (c) If, after
giving effect to any arrangements for the purchase of the Securities of a defaulting Purchaser or Purchasers by you and the Company as provided in subsection (a) above, the aggregate principal amount of Securities which remains unpurchased exceeds
one-eleventh of the aggregate principal amount of all the Securities, or if the Company shall not exercise the right described in subsection (b) above to require non-defaulting Purchasers to purchase Securities of a defaulting Purchaser or
Purchasers, then this Agreement shall thereupon terminate, without liability on the part of any non-defaulting Purchaser or the Company, except for the expenses to be borne by the Company and the Purchasers as provided in Section 6 hereof and the
indemnity and contribution agreements in Section 8 hereof; but nothing herein shall relieve a defaulting Purchaser from liability for its default. 
  
 10. The respective indemnities, agreements, representations, warranties and other statements of the Company and the several Purchasers, as set forth in
this Agreement or made by or on behalf of them, respectively, pursuant to this Agreement, shall remain in full force and effect, regardless of any investigation (or any statement as to the results thereof) made by or on behalf of any Purchaser or
any controlling person of any Purchaser, or the Company, or any officer or director or controlling person of the Company, and shall survive delivery of and payment for the Securities. 
  
 11. If this Agreement shall be terminated pursuant to Section 9 hereof, the Company shall not then be under any liability to
any Purchaser except as provided in Sections 6 and 8 hereof; but, if for any other reason, the Securities are not delivered by or on behalf of the Company as provided 

  

 17 

 
herein, the Company will reimburse the Purchasers through you for all out-of-pocket expenses approved in writing by you, including fees and disbursements of
counsel, reasonably incurred by the Purchasers in making preparations for the purchase, sale and delivery of the Securities, but the Company shall then be under no further liability to any Purchaser except as provided in Sections 6 and 8 hereof.

  
 12. In all dealings hereunder, you shall act on behalf of each
of the Purchasers, and the parties hereto shall be entitled to act and rely upon any statement, request, notice or agreement on behalf of any Purchaser made or given by you jointly or by Goldman, Sachs & Co on behalf of you as the
representatives. 
  
 All statements, requests, notices and
agreements hereunder shall be in writing, and if to the Purchasers shall be delivered or sent by mail, telex or facsimile transmission to you as the representatives in care of Goldman, Sachs & Co., 85 Broad Street, New York, New York 10004,
Attention: Registration Department; and if to the Company shall be delivered or sent by mail, telex or facsimile transmission to the address of the Company set forth in the Offering Circular, Attention: Secretary; provided, however,
that any notice to a Purchaser pursuant to Section 8(c) hereof shall be delivered or sent by mail, telex or facsimile transmission to such Purchaser at its address set forth in its Purchasers’ Questionnaire, or telex constituting such
Questionnaire, which address will be supplied to the Company by you upon request. Any such statements, requests, notices or agreements shall take effect upon receipt thereof. 
  
 13. This Agreement shall be binding upon, and inure solely to the benefit of, the Purchasers, the Company and, to the extent
provided in Sections 8 and 10 hereof, the officers and directors of the Company and each person who controls the Company or any Purchaser, and their respective heirs, executors, administrators, successors and assigns, and no other person shall
acquire or have any right under or by virtue of this Agreement. No purchaser of any of the Securities from any Purchaser shall be deemed a successor or assign by reason merely of such purchase. 
  
 14. Time shall be of the essence of this Agreement. 
  
 15. This Agreement shall be governed by and construed in accordance with
the laws of the State of New York. 
  
 16. This Agreement may
be executed by any one or more of the parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such respective counterparts shall together constitute one and the same instrument. 
  
 17. Notwithstanding anything herein to the contrary, any party to this
Agreement (and any employee, representative or other agent of such party) may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the transactions contemplated by this Agreement and all materials
of any kind (including opinions or other tax analyses) that are provided to it relating to such tax treatment and tax structure, except that (i) tax treatment and tax structure shall not include the identity of any existing or future party (or any
affiliate of such party) to this Agreement and (ii) this provision shall not permit disclosure to the extent that nondisclosure is necessary in order to comply with applicable securities laws. 
  

 18 

 If the foregoing is in accordance with your understanding, please sign and return to us six counterparts
hereof, and upon the acceptance hereof by you, on behalf of each of the Purchasers, this letter and such acceptance hereof shall constitute a binding agreement between each of the Purchasers and the Company. It is understood that your acceptance of
this letter on behalf of each of the Purchasers is pursuant to the authority set forth in a form of Agreement among Purchasers, the form of which shall be submitted to the Company for examination upon request, but without warranty on your part as to
the authority of the signers thereof. 
  

	 Very truly yours,
  
 BRISTOL-MYERS SQUIBB
COMPANY

		
	 By:
	 	 
	 	

	 	 	 Name:
 Title:

  

	 Accepted as of the date hereof:
  
 GOLDMAN, SACHS &
CO.
 J.P. MORGAN SECURITIES INC.

		
	 By:
	 	 
	 	

	 	 	(Goldman, Sachs & Co.)

  

	 J.P. MORGAN SECURITIES INC.

		
	 By:
	 	 
	 	

	 	 	 Name:
 Title:

  
 On behalf of each of the Purchasers

  

 19 

 SCHEDULE I 
  

	 Purchaser

	  	Principal
Amount of
Securities
to be
Purchased

	 Goldman, Sachs & Co.
	  	$	400,000,000
	 J.P. Morgan Securities Inc.
	  	 	400,000,000
	 Banc of America Securities LLC
	  	 	60,000,000
	 Citigroup Global Markets Inc.
	  	 	60,000,000
	 ABN AMRO Rothschild LLC
	  	 	20,000,000
	 BNP Paribas Securities Corp.
	  	 	20,000,000
	 Credit Suisse First Boston LLC
	  	 	20,000,000
	 Deutsche Bank Securities Inc.
	  	 	20,000,000
	 	  	
	

	 Total
	  	$	1,000,000,000
	 	  	
	

  

 20 

 Exhibit I 
  

[Form of Registration Rights Agreement] 
  

 A-1 

 Exhibit II 
  

Pursuant to Section 7(d) of the Purchase Agreement, the accountants shall furnish letters to the Purchasers to the effect that: 
  
 (i) They are independent certified public accountants with
respect to the Company and its subsidiaries within the meaning of the Securities Exchange Act of 1934 (the “Exchange Act”) and the applicable published rules and regulations thereunder; 
  
 (ii) In our opinion, the consolidated financial statements
and financial statement schedules audited by us and included or incorporated by reference in the Offering Circular comply as to form in all material respects with the applicable requirements of the Exchange Act and the related published rules and
regulations; 
  
 (iii) The unaudited selected
financial information with respect to the consolidated results of operations and financial position of the Company for the three most recent fiscal years included or incorporated by reference in the Offering Circular agrees with the corresponding
amounts (after restatements where applicable) in the audited consolidated financial statements for such five fiscal years; 
  
 (iv) On the basis of limited procedures not constituting an audit in accordance with generally accepted auditing standards, consisting of
a reading of the unaudited financial statements and other information referred to below, a reading of the latest available interim financial statements of the Company and its subsidiaries, inspection of the minute books of the Company and its
subsidiaries since the date of the latest audited financial statements incorporated by reference in the Offering Circular, inquiries of officials of the Company and its subsidiaries responsible for financial and accounting matters and such other
inquiries and procedures as may be specified in such letter, nothing came to their attention that caused them to believe that: 
  
 (A) the unaudited consolidated statements of income, consolidated balance sheets and consolidated statements of cash flows included or incorporated by
reference in the Offering Circular are not in conformity with generally accepted accounting principles applied on the basis substantially consistent with the basis for the unaudited condensed consolidated statements of income, consolidated balance
sheets and consolidated statements of cash flows included or incorporated by reference in the Offering Circular; 
  
 (B) any other unaudited income statement data and balance sheet items included or incorporated by reference in the Offering Circular do not agree with
the corresponding items in the unaudited consolidated financial statements from which such data and items were derived, and any such unaudited data and items were not determined on a basis substantially consistent with the basis for the
corresponding amounts in the audited consolidated financial statements incorporated by reference in the Offering Circular; 
  
 (C) the unaudited financial statements which were not included in the Offering Circular but from which were derived any unaudited condensed financial
statements 

  

 
referred to in clause (A) and any unaudited income statement data and balance sheet items included or incorporated by reference in the Offering Circular and
referred to in clause (B) were not determined on a basis substantially consistent with the basis for the audited consolidated financial statements incorporated by reference in the Offering Circular; 
  
 (D) any unaudited pro forma consolidated condensed financial statements
included or incorporated by reference in the Offering Circular do not comply as to form in all material respects with the applicable accounting requirements or the pro forma adjustments have not been properly applied to the historical amounts in the
compilation of those statements; 
  
 (E) as of a specified date
not more than five days prior to the date of such letter, there have been any changes in the consolidated capital stock (other than issuances of capital stock upon exercise of options and stock appreciation rights, upon earn-outs of performance
shares and upon conversions of convertible securities, in each case which were outstanding on the date of the latest financial statements incorporated by reference in the Offering Circular or any increase in the consolidated long-term debt of the
Company and its subsidiaries, or any decreases in consolidated net current assets or stockholders’ equity or other items specified by the Representatives, or any increases in any items specified by the Representatives, in each case as compared
with amounts shown in the latest balance sheet included in the Offering Circular except in each case for changes, increases or decreases which the Offering Circular discloses have occurred or may occur or which are described in such letter; and

  
 (F) for the period from the date of the latest financial
statements included or incorporated by reference in the Offering Circular to the specified date referred to in clause (E) there were any decreases in consolidated net revenues or operating profit or the total or per share amounts of consolidated net
income or other items specified by the Representatives, or any increases in any items specified by the Representatives, in each case as compared with the comparable period of the preceding year and with any other period of corresponding length
specified by the Representatives, except in each case for decreases or increases which the Offering Circular discloses have occurred or may occur or which are described in such letter; and 
  
 (v) In addition to the examination referred to in their
report(s) included in the Offering Circular and the limited procedures, inspection of minute books, inquiries and other procedures referred to in paragraphs (iii) and (iv) above, they have carried out certain specified procedures, not constituting
an audit in accordance with generally accepted auditing standards, with respect to certain amounts, percentages and financial information specified by the Representatives, which are derived from the general accounting records of the Company and its
subsidiaries, which appear in the Offering Circular, and have compared certain of such amounts, percentages and financial information with the accounting records of the Company and its subsidiaries and have found them to be in agreement. 

 

 Exhibit III 
  

Bristol-Myers Squibb Company 
  
 Lock-Up Agreement 
  
 October 1, 2003 
  
 Goldman, Sachs & Co. 
 J.P. Morgan Securities Inc. 
 c/o Goldman, Sachs & Co. 
 85 Broad Street 
 New York, NY 10004 
  
 Re: Bristol-Myers Squibb Company - Lock-Up Agreement 
  
 Ladies and Gentlemen: 
  
 The undersigned understands that you propose to enter into a Purchase Agreement with Bristol-Myers Squibb Company, a Delaware corporation (the
“Company”), providing for an offering of Floating Rate Convertible Senior Debentures due 2023 of the Company (the “Debentures”). 
  
 In consideration of the agreement by you to offer and sell the Debentures, and of other good and valuable consideration the receipt and sufficiency of
which is hereby acknowledged, the undersigned agrees that, during the period beginning from the date of the final Offering Circular covering the offering of the Debentures and continuing to and including the date 90 days after the date of such final
Offering Circular, the undersigned will not offer, sell, contract to sell, pledge, grant any option to purchase, make any short sale or otherwise dispose of any shares of Common Stock of the Company, or any options or warrants to purchase any shares
of Common Stock of the Company, or any securities convertible into, exchangeable for or that represent the right to receive shares of Common Stock of the Company, whether now owned or hereinafter acquired, owned directly by the undersigned
(including holding as a custodian) or with respect to which the undersigned has beneficial ownership within the rules and regulations of the SEC (collectively the “Undersigned’s Shares”). 
  
 The foregoing restriction is expressly agreed to preclude the undersigned
from engaging in any hedging or other transaction which is designed to or which reasonably could be expected to lead to or result in a sale or disposition of the Undersigned’s Shares even if such Shares would be disposed of by someone other
than the undersigned. Such prohibited hedging or other transactions would include without limitation any short sale or any purchase, sale or grant of any right (including without limitation any put or call option) with respect to any of the
Undersigned’s Shares or with respect to any security that includes, relates to, or derives any significant part of its value from such Shares. 
  
 Notwithstanding the foregoing, the undersigned may transfer the Undersigned’s Debentures (i) as a bona fide gift or gifts, provided that the
donee or donees thereof agree to be bound in writing by the 

  

 
restrictions set forth herein, (ii) to any trust for the direct or indirect benefit of the undersigned or the immediate family of the undersigned, provided
that the trustee of the trust agrees to be bound in writing by the restrictions set forth herein, and provided further that any such transfer shall not involve a disposition for value, or (iii) with the prior written consent of Goldman, Sachs &
Co. and J.P. Morgan Securities Inc. For purposes of this Lock-Up Agreement, “immediate family” shall mean any relationship by blood, marriage or adoption, not more remote than first cousin. In addition, notwithstanding the foregoing, if
the undersigned is a corporation, the corporation may transfer the capital stock of the Company to any wholly-owned subsidiary of such corporation; provided, however, that in any such case, it shall be a condition to the transfer that
the transferee execute an agreement stating that the transferee is receiving and holding such capital stock subject to the provisions of this Agreement and there shall be no further transfer of such capital stock except in accordance with this
Agreement, and provided further that any such transfer shall not involve a disposition for value. The undersigned now has, and, except as contemplated by clause (i), (ii), or (iii) above, for the duration of this Lock-Up Agreement will have, good
and marketable title to the Undersigned’s Shares, free and clear of all liens, encumbrances, and claims whatsoever. The undersigned also agrees and consents to the entry of stop transfer instructions with the Company’s transfer agent and
registrar against the transfer of the Undersigned’s Shares except in compliance with the foregoing restrictions. 
  
 The undersigned understands that the Company and you are relying upon this Lock-Up Agreement in proceeding toward consummation of the offering. The
undersigned further understands that this Lock-Up Agreement is irrevocable and shall be binding upon the undersigned’s heirs, legal representatives, successors, and assigns. 
  

	 Very truly yours,

	
	 
	

	 Exact Name of Shareholder

	
	 
	

	 Authorized Signature

	
	 
	

	 Title

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