Document:

Senior Executive Severance Plan

 Exhibit 10.2 
 Bristol-Myers Squibb Company 
 Senior Executive Severance Plan 
 and 
 Summary Plan Description

  

			
	Senior Executive Severance Plan, as amended effective April 26, 2007	 	Bristol-Myers Squibb Company

					
	 Purpose
	 		  	1
	 Section 1  –  Eligibility to Participate
	  	1
	 Section 2  –  Eligibility for Severance Payments and Benefits
	  	1
	 Section 3  –  Severance Payments And Benefits
	  	3
	 Section 4  –  Amendment and Plan Termination
	  	10
	 Section 5  –  Miscellaneous
	  	10
	 Section 6  –  Administrative Information About Your Plan
	  	13
	 Section 7  –  Your Rights and Privileges Under ERISA
	  	15
	 Section 8  –  Other Administrative Facts
	  	17

  

			
	Senior Executive Severance Plan, as amended effective April 26, 2007	 	 Bristol-Myers Squibb Company

 Purpose 
 The
Compensation and Management Development Committee of the Board of Directors of Bristol-Myers Squibb Company (“BMS” or the “Company”) has adopted the Bristol-Myers Squibb Company Senior Executive Severance Plan (the
“Plan”) for eligible senior executives of the Company and its participating subsidiaries and affiliates (“Participating Employer”). The purpose of the Plan is to provide equitable treatment for terminated senior executives
consistent with the values and culture of the Company, provide financial support for senior executives seeking new employment, recognize senior executives contributions to the Company, and to avoid or mitigate the Company’s potential exposure
to litigation. The Company further believes that the Plan will aid the Company in attracting and retaining highly qualified senior executives who are essential to its success. 
 Section 1 – Eligibility to Participate 
 You are eligible to participate in the Plan if you are a senior
executive at the E9 grade level or above of the Company or a Participating Employer (excluding the chairperson of the Board of Directors of the Company). 
 Notwithstanding anything contained herein, you are not eligible to participate in the Plan and are excluded from coverage under the Plan if you are a party to an individual arrangement or a written employment agreement containing a
severance provision or you are covered by a local practice outside the U.S. and Puerto Rico that provides for severance payments and/or benefits in connection with a voluntary or involuntary termination of employment that is greater than the
severance payments and/or benefits set forth herein. 
 Section 2 – Eligibility for Severance Payments and Benefits 
 Right to severance payments and benefits 
 You shall be eligible to
receive from the Company severance payments and benefits as set forth in Section 3 if your employment by the Company or a Participating Employer is terminated for any one or more of the following reasons: 
  

	 	(a)	Your employment is terminated involuntarily, other than for Cause. 

  

	 	(b)	You voluntarily exercise your right to terminate your employment within fifteen (15) calendar days after the occurrence of any one or more of the following events:

  

	 	(1)	A reduction in your monthly base pay (as defined below). 

  

			
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	Senior Executive Severance Plan, as amended effective April 26, 2007	 	Bristol-Myers Squibb Company

	 	(2)	A reduction in your executive grade level (e.g., the Company changes your job level from an E10 to an E9). 

  

	 	(3)	The location of your job or office is changed, so that you will be based at a location which is more than 50 miles further (determined in accordance with the Company’s
relocation policy) from your primary residence than your work location immediately prior to the proposed change in your job or office. 

 In
the event you exercise your right to terminate your employment with the Company or a Participating Employer, as applicable, for any of the reasons described in (b)(1), (b)(2) or (b)(3) above, your actual termination date shall be determined in the
sole discretion of the Company but in no event shall the termination date be greater than thirty (30) calendar days from the date you provide notice of termination. Your failure to voluntarily terminate your employment with the Company within
fifteen (15) calendar days for any of the reasons described in (b)(1), (b)(2) or (b)(3) above shall constitute a waiver of your right to voluntarily terminate your employment for such reason. 
 Ineligibility for severance payments and benefits 
 You shall not be
eligible for separation payments and benefits under Section 3 if your termination of employment occurs by reason of any of the following: 
  

	 	•	 	 voluntary termination other than for reasons specified above; 

  

	 	•	 	 mandatory retirement from employment in accordance with Company policy or statutory requirements; 

  

	 	•	 	 disability (as defined in the Company’s long-term disability plan); 

  

	 	•	 	 for Cause; 

  

	 	•	 	 refusal to accept a transfer to a position with the Company or a Participating Employer, as applicable, (for which you are qualified as determined by the Company by
reason of knowledge, training, and experience) at your current work location; 

  

	 	•	 	 refusal to accept a transfer to a position within the Company or to an affiliate or subsidiary of the Company (for which you are qualified as determined by the
Company by reason of knowledge, training, and experience) at a new work location that is less than 50 miles farther (determined in accordance with the Company’s relocation policy) from your primary residence than your work location immediately
prior to the proposed transfer; 

  

	 	•	 	 the sale of all or part of the Company or Participating Employer’s business assets if you are offered employment by the acquirer of such assets regardless of
the terms and conditions of employment offered by the acquirer; 

  

	 	•	 	 upon the formation of a joint venture or other business entity in which the Company or a Participating Employer, as applicable, directly or indirectly will own some
outstanding voting or other ownership interest if you are offered employment by the joint venture entity or other business entity regardless of the terms and conditions of employment offered by the joint venture entity or other business entity; or

  

	 	•	 	 you are reporting to a different person. 

 Cause

 “Cause” shall mean: 
  

	 	(i)	failure or refusal by you to substantially perform your duties with the Company or a Participating Employer (except where the failure results from incapacity due to disability); or

  

			
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	Senior Executive Severance Plan, as amended effective April 26, 2007	 	Bristol-Myers Squibb Company

	 	(ii)	severe misconduct or activity deemed detrimental to the interests of the Company or a Participating Employer. This may include, but is not limited to, the following: acts involving
dishonesty, violation of Company or a Participating Employer written policies (such as those related to alcohol or drugs, etc.), violation of safety rules, disorderly conduct, discriminatory harassment, unauthorized disclosure of Company or a
Participating Employer confidential information, or the entry of a plea of nolo contendere to, or the conviction of, a crime. 

 “Cause” shall be interpreted by the Company in its sole discretion and such interpretation shall be conclusive and binding on all parties. 
 Section 3 – Severance Payments And Benefits 
 Under the Plan, you are eligible to receive Basic Severance and Supplemental
Severance, provided you meet the eligibility criteria for severance payments and benefits in Section 2. 
 Basic Severance 
 Under Basic Severance, you shall receive severance payments equal to four (4) times your current annual weekly base pay (as defined below). You are not required to
sign a General Release to receive Basic Severance. 
 Supplemental Severance 
 In addition to Basic Severance, if you are eligible, you may receive Supplemental Severance as follows: 
  

			
	 Grade Level
	 	 Supplemental Severance

	E9	 	74 times your current annual weekly base pay (as defined below)
		
	E10 and above	 	100 times your current annual weekly base pay (as defined below)

 Nothing in this Section 3, the Plan, a change in control letter agreement, an offer letter from the
Company or a Participating Employer, a prevailing practice of the Company or a Participating Employer, or any oral 

  

			
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	Senior Executive Severance Plan, as amended effective April 26, 2007	 	Bristol-Myers Squibb Company

 
statement made by or on behalf of the Company or a Participating Employer shall entitle you to receive duplicate benefits in connection with a voluntary
or involuntary termination of employment. For example, you are not eligible for payments and benefits under both this Plan and a change in control letter agreement between you and the Company. The obligation of the Company, to make payments
hereunder shall be expressly conditioned upon you not receiving duplicate payments. 
 Pay in lieu of notice periods for U.S. and Puerto Rico
executives and U.S. expatriate executives 
 The Basic Severance and Supplemental Severance payments under the Plan shall not be reduced by any cash
payments to which you may be entitled under any federal, state or local plant-closing or mass layoff law (or similar or analogous) law, including, without limitation, pursuant to the U.S. Worker Adjustment and Retraining Notification Act or any
state or local “pay in lieu of notice” law or regulation (“WARN Act”); provided, however, the payment for time not worked during a WARN Act notice period up to a maximum of four weeks’ base pay will be offset
from the Basic Severance payments under the Plan. 
 Offset for executives in Puerto Rico and U.S. expatriates 
 The Basic Severance and Supplemental Severance payments under the Plan shall be reduced (but not below zero) for executives in Puerto Rico by any payments under Puerto
Rico Act 80, as amended on October 7, 2005. The Basic Severance and Supplemental Severance payments under the Plan shall be reduced (but not below zero) for U.S. expatriates with respect to any statutory payments of severance in any country
other than the U.S. and the payments and benefits hereunder are conditioned upon statutory payments, if any, being offset. 
 Pay in lieu of notice
periods and offsets for executives employed outside the U.S. and Puerto Rico who are not U.S. expatriates 
 The Basic Severance and Supplemental
Severance payments under the Plan shall be reduced (but not below zero) by any cash payments to which you may be entitled under or in respect of any of the following: (i) “pay in lieu of notice” or “notice” laws,
(ii) any pay in lieu of notice under your contract of employment, (iii) any damages for breach of your employment contract calculated by reference to any period of notice required to be given to terminate your contract which was not given
in full, (iv) any compensation required to be paid by any law of any jurisdiction in respect of the termination of your employment, (v) any law of any jurisdiction with respect to the payment of severance, termination indemnities or other
similar payments, or (vi) any contract, agreement, plan, program, practice or arrangement which are payable due to your termination of employment with the Company or an affiliate or subsidiary of the Company (but excluding, for the avoidance of
doubt, any payments made on retirement from a retirement savings plan, pension plan or provident fund). 
 No mitigation 
 You shall not be required to mitigate the amount of any payment provided for in the Plan by seeking other employment and no such payment shall be offset or reduced by the
amount of any compensation or benefits provided to you in any subsequent employment. 
 Debt owed to the Company or a Participating Employer

 If you owe the Company or a Participating Employer money for any reason, the Company or Participating Employer may offset the amount of the debt from
your severance payments to the extent permitted by law. 
  

			
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	Senior Executive Severance Plan, as amended effective April 26, 2007	 	Bristol-Myers Squibb Company

 General release and restrictive covenants 
 The obligation of the Company to pay you Supplemental Severance and provide you with the opportunity to continue up to 56 weeks of subsidized medical, dental (not applicable for Puerto Rico executives) and life
insurance coverage shall be expressly conditioned upon you timely executing a separation agreement in a form that is satisfactory to the Company and such separation agreement shall include a general release of claims against the Company, its
affiliates and their respective officers, directors, employees and agents, and shall contain certain restrictive covenants and obligations of you including, but not limited to, non-competition and non-solicitation covenants for a period of one-year
following your separation date, an agreement by you not to make use of confidential or proprietary information of the Company or its affiliates, an agreement not to disparage or encourage or induce others to disparage the Company, its affiliates or
their respective products for a period no more than the period you are receiving payments hereunder, an agreement to return Company property, and an agreement to cooperate with legal matters of the Company in which you might have knowledge. To be
eligible to receive Supplemental Severance, Company-subsidized medical, life and dental benefits and to the extent applicable other benefits as set forth below, you must execute and return a separation agreement during the requisite time period.

 How Your Benefit Is Paid 
 Basic Severance payments
will be made at regular payroll intervals according to your pay schedule prior to the termination. Supplemental Severance payments will not begin until at least eight days after you return a signed General Release to the Company. Thereafter,
Supplemental Severance payments will be made at regular payroll intervals according to your pay schedule prior to your termination. 
 Severance Pay Period
is defined as the number of weeks’ base pay for which you are eligible under the Plan. For example, if you qualify for 78 weeks of severance pay, your Severance Pay Period is 78 weeks. 
 Continuation of Employee Benefits For U.S. and Puerto Rico and U.S. expatriate Executives E9 and Above Only 
 During the Severance Pay Period, you are not considered an employee of the Company or a Participating Employer for any purpose — including eligibility under any
employee benefit plan. The following benefits, however, will continue to be available as outlined below: 
 Health Care Plans 
 If you and your dependents were enrolled in the Company’s health plan on your termination date, this coverage will continue until the end of the month in which you
are no longer employed with the Company or a Participating Employer, as applicable. At termination of employment, you and your enrolled eligible dependents will be offered the opportunity to elect to continue your current plan coverage beyond the
end of the month in which you are no longer employed with the Company under either of two options: 
 Under Option I, if you sign and return the General
Release in the requisite time period, your eligibility for Company subsidized health plan benefits shall continue for you and your family until the earlier of (i) fifty-six weeks measured from the date you separated employment with the Company
or (ii) the date you begin new employment. Please remember that your eligible dependents will be able to continue Option I coverage only if you also elect to continue coverage under this option. 
  

			
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	Senior Executive Severance Plan, as amended effective April 26, 2007	 	Bristol-Myers Squibb Company

 Option II provides for the continuation of health plan coverage as required under Federal law (COBRA). Under COBRA you
are required to pay the full cost of coverage for you and your covered dependents plus a 2% administrative fee. The COBRA continuation period begins as of the first day following the month in which your termination date occurs. Any health care
coverage that continues during your Severance Pay Period is also applied toward the maximum continuation period. 
 After your Option 1 coverage ends, you
can continue COBRA coverage; provided, however, any health care coverage that continues during your Severance Pay Period is also applied toward the maximum continuation period under COBRA. 
 Detailed information about the two benefit continuation options described above will be mailed to your home at the time of termination. 
 Life Insurance 
 Your current level of basic life insurance
coverage will continue until the end of the month in which your termination occurs. Thereafter, Company-provided life insurance coverage equal to one times (two times if you are an executive employed in Puerto Rico and retiree eligible (i.e.,
age 55 or older with at least ten years of service)) your base pay at termination date will be continued until the earlier of (i) fifty-six weeks measured from the date you separated employment with the Company or (ii) the date you begin
new employment. 
 When you are terminated, if you are participating in the Survivor Income Plan (not applicable for executives in Puerto Rico), Dependent
Life Insurance Plan(s), or the Voluntary Life Insurance Plan(s), coverage will end on the last day of the month in which your termination occurs. When your employment terminates, you may have the opportunity to elect to convert all or part of any
terminating life insurance coverage to an individual policy with the insurer. 
 Long Term Care Plan (not applicable for executives in Puerto Rico)

 If you are participating in the Long Term Care Plan, you may be able to continue coverage directly through the Long Term Care Plan’s insurer,
Aetna. 
 Employee Assistance Program (EAP) 
 You
may continue to participate in the Employee Assistance Program during the benefits continuation period, as long as you remain eligible for benefits under the Company’s Medical Plan. If you elect COBRA continuation coverage, you may continue to
participate in the EAP. You will receive additional information regarding participation at the time of your termination. 
 Outplacement

 You will be eligible for outplacement services in accordance with the Company’s outplacement services that are in effect for executives at
your level as of the date your employment ends with the Company, provided you timely sign and return a separation agreement (as set forth above). 
  

			
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	Senior Executive Severance Plan, as amended effective April 26, 2007	 	Bristol-Myers Squibb Company

 Financial Planning 
 The Company will continue to make available to you participation in financial counseling for a one-year period
following your separation date; provided, however, payment for those services must be made prior to December 31st of the calendar year following your separation date. Financial planning services are contingent upon you timely signing and returning a separation agreement (as set forth above). 
 Tax Preparation Services 
 Customary and reasonable tax preparation assistance will be made available for your tax returns in the year your employment is separated from the Company; however, tax preparation assistance shall not include tax
planning services or audit related services, and the tax preparation assistance for the returns in the year your employment is separated from the Company must be completed and payment for that assistance must be made prior to
December 31st of the calendar year following your separation date. Tax preparation services are contingent upon
you timely signing and returning a separation agreement (as set forth above) 
 Executive Car Program 
 You will cease to participate in the Executive Car Program on the earlier of: (a) 90 days from the first of the month following your separation date from the
Company; or (b) when you have obtained employment outside of the Company. 
 Other Company Perquisites 
 Other Company perquisites (e.g., your use of Company aircraft) shall cease as of your separation date from the Company. 
 Other Benefits 
 Accrued and unused vacation days (including
banked vacation), long-term performance awards, vesting and exercising of stock options, vesting of restricted stock and restricted stock units, deferred distributions under the Performance Incentive Plan (PIP) and bonus payments will be determined
in accordance with the applicable Company plans, programs and/or policies. 
 All other benefit coverages, and eligibility to participate in the
Company’s plans, will end as of your termination date. These benefits include, but are not limited to: 
  

	 	•	 	 contributions to the Dependent Care Reimbursement Account (not applicable for executives in Puerto Rico); 

  

	 	•	 	 contributions to the Company’s Savings and Investment Program; 

  

	 	•	 	 earning additional service for vesting and benefit accrual purposes under the Company’s Retirement Income Plan; and 

  

	 	•	 	 participation in the Company’s disability plans. 

 Rule of 70 (for U.S. and Puerto Rico and U.S. expatriate executives E9 and above only) 
 If you are eligible for severance benefits but not eligible to retire1, you may qualify for the “Rule
of 70” benefits when you are terminated if: 
  

	 	•	 	 you sign and return the General Release during the requisite time period; 

	 1
	 To be eligible to retire, you must be at least age 55 with 10 years of service or age 65.

  

			
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	Senior Executive Severance Plan, as amended effective April 26, 2007	 	Bristol-Myers Squibb Company

	 	•	 	 on termination, your age plus years of service equals at least 70 (rounded to the next higher whole number); and 

  

	 	 •
	 	 you have a minimum of 10 years of service2. 

 Medical Plan 
 The Rule of 70 benefits give you the opportunity to extend Medical Plan coverage beyond the end of the Severance Pay Period as long as you are Rule of 70 eligible, have
no other group medical coverage available to you and no other group medical coverage becomes available. 
 Between the time that medical coverage under the
Plan would normally end and until the date you reach age 55, you can continue medical coverage by paying the full cost of medical coverage, plus a 2% administrative fee. After the date you reach age 55, you can continue coverage under the Medical
Plan as if you were a retired employee by paying the retiree medical coverage contribution rate in effect at that time. 
 Extension of
Benefits Under Rule of 70 
 If you become eligible for an extension of medical benefits as a result of your qualification for “Rule of 70”
benefits under the Plan, your cost-sharing for medical coverage will be based on your service as of your actual date of termination of employment pursuant to the terms of the Company’s medical plans. 
 Under the Retiree Medical Plan, if you are eligible to enroll in Medicare coverage, Medicare will be your primary coverage and the Company plan will be secondary whether
or not you actually enroll in Medicare. The Company reserves the right to amend, suspend or terminate its Retiree Medical Plan (and your rights with regard thereto), in whole or in part, any time in its sole and absolute discretion. 
 For more detailed information about retiree medical coverage and the cost-sharing formula, refer to “Retirement Coverage” in the Medical Plan section of
Your Benefits booklet. 
 Retirement Income Plan 
 The Rule of 70 benefits give you the opportunity to receive benefits under the Company’s Retirement Income Plan. If you are Rule of 70 eligible, retirement benefits payable before age 65 are calculated using the
same factors as those used for employees who are eligible for early retirement. The Rule of 70 benefits make it possible for eligible participants to receive benefit payments before age 55 with additional reduction factors applied to account for
payment over a longer period of time; provided, however, this may not be applicable under the BEP-Retirement Income Plan for your pre 2005 vested and accrued benefit if you have not made a timely election. 
 For more information about the payment of retirement benefits, refer to the Retirement Income Plan section of Describing Your Benefits
booklet. 
 Although eligible for retiree medical coverage, a Rule of 70 participant is not a Bristol-Myers Squibb Company retiree, regardless
of when the participant ultimately chooses benefit payments to begin. Your Human Resources representative will determine whether you qualify for Rule of 70 and advise you at the time of termination. 

	 2
	 Years of service for the
“Rule of 70” eligibility purposes, means total years of employment from date of hire to date of termination. 

  

			
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	Senior Executive Severance Plan, as amended effective April 26, 2007	 	Bristol-Myers Squibb Company

 Section 4 – Amendment and Plan Termination 
 Bristol-Myers Squibb Company reserves the right to terminate or amend, in whole or in part, the Plan at any time in its sole discretion by resolution adopted by the Compensation and Management Development Committee
of the Board of Directors of the Company. The Company reserves the right to implement changes even if they have not been reprinted or substituted in this document. 
 Section 5 – Miscellaneous 
 Employment status 
 The Plan does not constitute a contract of employment and nothing in the Plan says or implies that participation in the Plan is a guarantee of continued employment with
the Company, a Participating Employer or any of their respective affiliates. 
 Withholding of taxes 
 The Company shall withhold from any amounts payable under the Plan all federal, state, local or other taxes that are legally required to be withheld. 
 No effect on other benefits 
 Neither the provisions of this Plan nor
the severance payments and benefits provided for hereunder shall reduce any amounts otherwise payable to you under any incentive, retirement, stock option, stock bonus, stock ownership, group insurance or other benefit plan. 
 Validity and severability 
 The invalidity or unenforceability of any
provision of the Plan shall not affect the validity or enforceability of any other provision of the Plan, which shall remain in full force and effect, and any prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. 
  

			
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	Senior Executive Severance Plan, as amended effective April 26, 2007	 	Bristol-Myers Squibb Company

 Unfunded obligation 
 All severance payments and benefits under the Plan shall constitute an unfunded obligation of the Company. Severance payments shall be made, as due, from the general funds of the Company. The Plan shall constitute solely an unsecured
promise by the Company to provide such benefits to you to the extent provided herein. For avoidance of doubt, any health benefits to which you may be entitled under the Plan shall be provided under other applicable employee benefit plans of the
Company. 
 Governing law 
 This Plan is intended to
constitute an unfunded “employee welfare benefit plan” maintained for the purpose of providing severance benefits to a select group of management or highly compensated employees, and the Plan shall be administered in a manner consistent
with such intent. The Plan is intended to be excepted from the definitions of “employee pension benefit plan” and “pension plan” set forth under Section 3(2) of the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”). The Plan and all rights thereunder shall be governed and construed in accordance with ERISA and, to the extent not preempted by Federal law, with the laws of the state of New York. 
 Section 409A 
 (a) The intent of the parties is that payments and
benefits under this Plan comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), if applicable, in the event that the Plan is determined to be a “deferred compensation plan” within the meaning
of Section 409A(d)(1) of the Code and the regulations and guidance promulgated thereunder (collectively, “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Plan shall be interpreted to be in compliance
therewith. If you notify the Company (with specificity as to the reason therefore) that you believe that any provision of this Plan (or of any award of compensation, including equity compensation or benefits) would cause you to incur any additional
tax or interest under Code Section 409A and the Company concurs with such belief or the Company (without any obligation whatsoever to do so) independently makes such determination, the Company shall, after consulting with you, reform such
provision to try to comply with Code Section 409A. The Company in its sole discretion may modify the timing of payments and benefits hereunder for the sole purpose of exempting said payments and benefits from Code Section 409A. To the
extent that any payment or benefit hereunder is modified in order to comply with Code Section 409A or is exempted from Code Section 409A, such modification or exemption shall be made in good faith and shall, to the maximum extent
reasonably possible, maintain the original intent and economic benefit to you and the Company of the applicable payment or benefit without violating the provisions of Code Section 409A. 
 (b) Notwithstanding any provision to the contrary in this Plan and subject to subsection (c), if you are deemed on the date of termination to be a “specified
employee” within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is required to be delayed in compliance with Section 409A(a)(2)(B) such payment or
benefit shall not be made or provided (subject to the last sentence of this subsection (b)) prior to the earlier of (i) the expiration of the six (6)-month period measured from the date of your “separation from service” (as such term
is defined under Code Section 409A) or (ii) the date of your death (the “Delay Period”). Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this section (whether they would have otherwise been
payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to you in a lump sum, and any remaining payments and benefits due under this Plan shall be paid or provided in accordance with the normal payment
dates specified for them herein. Notwithstanding the foregoing, to the extent that the foregoing applies to the provision of any ongoing welfare benefits to you that would not be required to be delayed if the premiums therefore were paid by you, you
shall pay the full cost of premiums for such welfare benefits during Senior Executive Severance Plan, as amended effective April 26, 2007 Bristol-Myers Squibb Company the Delay Period and the Company shall pay you an amount equal to the amount
of such premiums paid by you during the Delay Period promptly after its conclusion. 
  

			
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	Senior Executive Severance Plan, as amended effective April 26, 2007	 	Bristol-Myers Squibb Company

 (c) In no event whatsoever (as a result of paragraph (a) or paragraph (b) above or otherwise) shall the Company
be liable for any additional tax, interest or penalties that may be imposed on you by Code Section 409A or any damages for failing to comply with Code Section 409A or (a) or (b) above. 
 Payment capped 
 If at any time, it shall be determined by the
Company’s independent auditors that any payment or benefit to you pursuant to this Plan (“Potential Parachute Payment”) is or will become subject to the excise tax imposed by Section 4999 of the Code or any similar tax payable
under any United States federal, state, local, foreign or other law (“Excise Taxes), then the Potential Parachute Payment payable to you shall be reduced to the largest amount which would both (a) not cause any Excise Tax to be payable by
you and (b) not cause any Potential Parachute Payments to become nondeductible by the Company by reason of Section 280G of the Code (or any successor provision). 
 Assignment 
 The Plan shall inure to the benefit of and shall be enforceable by your personal or legal
representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If you should die while any amount is still payable to you under the Plan had you continued to live, all such amounts, unless otherwise provided
herein, shall be paid in accordance with the terms of the Plan to your estate. Your rights under the Plan shall not otherwise be transferable or subject to lien or attachment. 
 Other benefits 
 Nothing in this document is intended to guarantee that benefit levels or costs will remain unchanged
in the future in any other plan, program or arrangement of the Company. The Company and its affiliates and subsidiaries reserve the right to terminate, amend, modify, suspend, or discontinue any other plan, program or arrangement of the Company or
its subsidiaries or affiliates in accordance with such, plan, program and arrangement and applicable law. 
 Oral statements 
 The payments and benefits hereunder shall supercede any oral statements made by any employee, officer or Board member of the Company regarding severance payments and
benefits. 
 Successors and assigns 
 This Plan shall be
binding upon and inure to the benefit of the Company and its successors and assigns and shall be binding upon and insure to the benefit of you and your legal representatives, heirs and legatees. 
 Definition 
 Base pay means your weekly base pay rate at your
termination date including any salary reductions under Code sections 132(f), 125, 137, or 401(k), and excluding overtime, commissions, bonuses, income from stock options, stock grants, dividend equivalents, benefits-in-kind, allowances (including,
but not limited to, car values, 

  

			
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	Senior Executive Severance Plan, as amended effective April 26, 2007	 	Bristol-Myers Squibb Company

 
vacation bonuses, food coupons) or other incentives, and any other forms of extra compensation. No foreign service or expatriate allowances shall be included
in determining the amount of severance payments payable under the Plan. 
 Section 6 – Administrative Information About Your Plan

 Employer identification number 
 Bristol-Myers
Squibb Company’s employer identification number is #22-0790350. 
 Claim for benefits 
 If you believe you are entitled to payments and benefits under the Plan, then contact the Plan Administrator in writing. 
 Claims review procedures 
 You will be notified in writing by the
Company if you are denied payments and benefits under the Plan. 
 If a claim for benefits under the Plan is denied in full or in part, you* may appeal the
decision to the Plan Administrator. To appeal a decision, you* must submit a written document through the U.S. Postal Service or other courier service appealing the denial of the claim within 60 days after your termination of employment or you will
no longer be eligible to receive benefits under the Plan. You* may also include information or other documentation in support of your claim. You* will be notified of a decision within 90 days (which may be extended to 180 days, if required) of the
date your appeal is received. This notice will include the reasons for the denial and the specific provision(s) on which the denial is based, a description of any additional information needed to resubmit the claim, and an explanation of the claims
review procedure. If an extension of time is required by the plan, you* will receive notice of the reason for the extension within the initial 90-day period and a date by which you can expect a decision. 
 If the original denial is upheld on first appeal, you* may request a review of this decision. You* may submit a written request for reconsideration to the Plan
Administrator (as listed on the last page of this section) within 60 days after receiving the denial. 
 You* can review all plan documents in preparing your
appeal and you* may have a qualified person represent you* during the appeal process. Any documents or records that support your position must be submitted with your appeal letter. 

	 *
	 Or your duly authorized representative. 

  

			
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	Senior Executive Severance Plan, as amended effective April 26, 2007	 	Bristol-Myers Squibb Company

 The case will be reviewed, and you* will receive written notice of the decision within 60 days (which may be extended to
120 days, if required) including the specific reasons for the decision and specific reference to the plan provision(s) on which the decision is based. 
 Any
decision on final appeal shall be final, conclusive and binding upon all parties. If the final appeal is denied, however, you will be advised of your right to file a claim in court. It is the intent of the Company that the standard of review applied
by a court of law or a professional arbitrator to any challenge to a denial of benefits on final appeal under these procedures shall be an arbitrary and capricious standard and not a de novo review. 
 Legal action 
 You may not bring a lawsuit to recover benefits under
the Plan until you have exhausted the internal administrative process described above. No legal action may be commenced at all unless commenced no later than one (1) year following the issuance of a final decision on the claim for benefits, or
the expiration of the appeal decision period if no decision is issued. This one-year statute of limitations on suits for all benefits shall apply in any forum where you may initiate such a suit. 
 Participating employers 
 A complete list of Bristol-Myers Squibb
Company, affiliates, subsidiaries or divisions that participate in the Plan may be obtained from the Plan Administrator by written request. (See the chart at the end of this section for the name and address of the Plan Administrator.) 
 Plan Administrator 
 The administration of the Plan is the
responsibility of the Plan Administrator. The Plan Administrator has the discretionary authority and responsibility for, among other things, determining eligibility for benefits and construing and interpreting the terms of the Plan. In addition, the
Plan Administrator has the authority, at its discretion, to delegate its responsibility to others. The chart at the end of this section contains the name and address of the Plan Administrator. 
  

			
	13
	Senior Executive Severance Plan, as amended effective April 26, 2007	 	Bristol-Myers Squibb Company

 Section 7 – Your Rights and Privileges Under ERISA 
 As a participant in the Plan, you are entitled to certain rights and protection under ERISA. ERISA provides that you shall be entitled to: 
 Receive information about your Plan and benefits 
 Examine, without
charge, at the Plan Administrator’s office and at other specified locations all documents governing the plan filed by the plan with the U.S. Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security
Administration. 
 Obtain, upon written request to the Plan Administrator, copies of documents governing the operation of the plan and updated summary plan
description. The administrator may make a reasonable charge for the copies. 
 Prudent actions by Plan fiduciaries 
 In addition to creating certain rights for you, ERISA imposes duties upon the people who are responsible for the operation of the employee benefit plan. The people who
operate your plan, called “fiduciaries” of the plan, have a duty to do so prudently and in the interest of you and other plan participants and beneficiaries. No one, including your employer, or any other person, may fire you or otherwise
discriminate against you in any way to prevent you from obtaining a welfare benefit or exercising your rights under ERISA. 
 Enforce your rights

 If your claim for a welfare benefit is denied or ignored, in whole or in part, you have a right to know why this was done, to obtain copies of
documents relating to the decision without charge, and to appeal any denial, all within certain time schedules. 
 Under ERISA, there are steps you can take
to enforce the above rights. For instance, if you request a copy of plan documents or the latest annual report from the plan and do not receive them within 30 days, you may file suit in a Federal court. In such a case, the court may require the Plan
Administrator to provide the materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons beyond the control of the administrator. 
 If you have a claim for benefits which is denied or ignored, in whole or in part, you may file suit in a state or Federal court. In addition, if you disagree with the
plan’s decision or lack thereof concerning the qualified status of a medical child support order, you may file suit in a Federal court. 
 If it should
happen that plan fiduciaries misuse the plan’s money, or if you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a Federal court. The court will decide who
should pay court costs and legal fees. If you are successful, the court may order the person you sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds your claim is frivolous.

 Assistance with your questions 
 If you have any
questions about your plan, you should contact the Plan Administrator. If you have any questions about this statement or about your rights under ERISA, or if you need assistance in obtaining documents from the Plan Administrator, you should contact
the nearest office of the Employee Benefits Security Administration, U.S. Department of Labor, listed in your telephone directory or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of
Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210. You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security Administration at
1-866-444-EBSA (3272) or accessing their website at http://www.dol.gov/ebsa. 
  

			
	14
	Senior Executive Severance Plan, as amended effective April 26, 2007	 	Bristol-Myers Squibb Company

 Section 8 – Other Administrative Facts 
  

			
	Name of Plan	  	Bristol-Myers Squibb Company Senior Executive Severance Plan
		
	Type of Plan	  	“Welfare” plan
		
	Plan Records	  	Kept on a calendar-year basis
		
	Plan Year	  	January 1 – December 31
		
	Plan Funding	  	Company and participating employers provide severance benefits from general revenues.
		
	Plan Sponsor	  	Bristol-Myers Squibb Company
		
	Plan Number	  	554
		
	Plan Administrator
and Named Fiduciary	  	 Bristol-Myers Squibb Company
 c/o Senior Vice President,
Human Resources
 345 Park Avenue
 New York, NY 10154

Telephone: (212) 546-4000

		
	Agent for
Service of Legal
Process on the Plan	  	 Bristol-Myers Squibb Company
 c/o Senior Vice President
and General Counsel
 345 Park Avenue
 New York, NY
10154
 Telephone: (212) 546-4000
  
 Bristol-Myers Squibb Company
 c/o Senior Vice President, Human
Resources
 345 Park Avenue
 New York, NY 10154
 Telephone: (212) 546-4000

		
	Trustee	  	Not applicable
		
	Insurance Company	  	Not applicable

  

			
	15
	Senior Executive Severance Plan, as amended effective April 26, 2007	 	Bristol-Myers Squibb CompanyEmployment Agreement For Philippe Duranton dated April 16, 2007

 Exhibit 10.37 
 COGNOS INCORPORATED 
 EMPLOYMENT AGREEMENT 
 (Phillippe Duranton) 
 This Agreement effective the 16th day of April, 2007
(“Effective Date”) between Cognos Incorporated (“Cognos”) and Phillippe Duranton (“You”) and shall be effective on the date that the Executive commences service with Cognos at its
Ottawa facility. 
 The parties agree as follows: 
 1.    Duties: 
 1.01    Cognos will employ you as Senior Vice-President, Human Resources at its office at 3755 Riverside Drive in Ottawa, Ontario, and you accept that employment under the terms set out in this
Agreement. You will perform such duties as are reasonably required and consistent with his position. 
 1.03    You will
devote your full time and attention to the business and affairs of Cognos and its affiliates and will not, without consent in writing of Cognos, undertake any other business or occupation or become a director, officer, partner, employee or agent of
any other company, firm or individual. 
 1.04    You may, without the necessity of obtaining any consent, undertake
activities of a charitable or community nature and serve in any part-time or temporary post with any charitable organization or professional association, as long as those activities, in the sole discretion of Cognos, do not impair your ability to
fulfill your obligations in this Agreement. 
 1.05    You will well and faithfully serve Cognos and its associated
companies and use your best efforts to promote their interests. 
  

 132 

 2.    Term:    For the purposes of this Agreement, your
commencement of service with Cognos will commence on the Effective Date set out above and your employment shall continue for an indefinite term thereafter unless terminated in accordance with this Agreement. No employment with a previous employer,
other than Cognos, counts toward your service with Cognos. 
 3.    Relocation:    You
acknowledge that Cognos carries on its operations worldwide and during the course of your employment the location of your employment and reporting arrangements may be changed by Cognos. Your relocation expenses will be reimbursed in accordance with
the prevailing Cognos policy. 
 4.    Hours of Work:    Your days and hours of work will be
Monday to Friday, 7.5 hours per day. These days and hours are subject to change by Cognos to meet its needs. You acknowledge that your duties may require extra or irregular hours to meet or fulfill company requirements. There is no compensation for
overtime except when authorized in accordance with prevailing Cognos policy. 
 5.    Compensation & Performance Appraisal: 
 5.01    Your compensation,
that is your base salary and any bonus or incentive element, for the 2008 Cognos fiscal year is set out in Annex A (“Compensation Plan”) and subsequently will be reviewed, and may be adjusted periodically in accordance with
prevailing Cognos practice and policies. 
 5.02    You have no contractual entitlement to any increased or additional
compensation (including, without limit, bonus or overtime) except in strict compliance with your Compensation Plan and you have no right to the continuation or renewal of any particular Compensation Plan. The bonus element of your compensation will
be determined and paid at the same time as your peers located at the Ottawa office. 
 5.03    Your base salary will be
deemed to accrue from day to day and will be payable in equal semi-monthly installments in accordance with prevailing Cognos policies or practice. You will be paid net of any statutory or authorized deductions and you authorize Cognos to deduct from
compensation payable to you the full amount of any debts or advances owed by you to Cognos. 
 6.    Travel &
Expenses:    Your duties may require you to travel away from home on and incur expenses in connection with that travel or other duties under this Agreement. Cognos will reimburse you for all reasonable expenses incurred for
travel, accommodation and other incidental costs in accordance with its prevailing travel and expenses policies. 
 7.    Benefits: 
 7.01    You will be entitled to receive all
benefits generally available to Cognos employees in comparable positions. 
  

 133 

 7.02    As of your start date, you will be entitled to accrue twenty-five
(25) days vacation annually. This vacation entitlement will remain fixed throughout your employment but all other aspects of vacation will be governed by prevailing applicable vacation policies. The taking and time of vacation shall be agreed
upon at a time best suited to the needs of Cognos, as determined by your immediate superior. You will be entitled to take twenty (20) days vacation during the period June-September 2007 to attend to personal family affairs in France.

 7.02    Cognos will provide you with a company vehicle at its expense. If Cognos terminates your employment without
Just Cause, or You terminate your employment at any time for Good Reason, (both terms as defined in Annex B), you will have continued use of the vehicle until the end of the period set out in that sub-section 11.03(a). 
 7.03    Cognos will reimburse any initiation and annual membership fees to the Ottawa Hunt & Golf Club, or to another club as
determined by the Executive and acceptable to Cognos. The payment of these fees is included in the benefits contemplated in sub-section 11.03(c). 
 7.04    For each of the two years following the Effective Date, Cognos will reimburse you, for airfare incurred for family travel between Canada and Marseille up to annual total of USD$25,000. After that period you will
be entitled to reimbursement for airfare incurred for family travel between Canada and Marseille up to annual total of USD$12,500. Reimbursement will be subject to the presentation of acceptable evidence of expenditure. 
 8.    Personnel Policies:    In addition to the provisions of this Agreement, you will adhere to all
policies of general applicability to Cognos employees. Cognos may amend or revoke the provisions of these policies as may be necessary. You will be given reasonable notice of any policy amendment. 
 9.    Confidential Information and Inventions: 
 9.01    During the course of your duties, you will acquire information about certain matters that are confidential to Cognos (including, for the purpose of this Agreement, any
affiliated companies), and that is the exclusive property of Cognos, including, but not limited to: (a) product design and development information, (b) names, addresses, buying habits and preferences of current customers of Cognos as well
as prospective customers, (c) pricing and sales policies, techniques and concepts, and (d) trade secrets and other confidential information concerning the business operations or affairs of Cognos, all of which information is "Confidential
Information" for the purposes of this Agreement. Confidential Information does not include: (e) information generally available to or known to the public; (f) information previously known to you; (g) information independently
developed by you outside the scope of this Agreement; or (h) information lawfully disclosed to you by a third party. 
 9.02    You acknowledge that Confidential Information, if disclosed, could be used to the detriment of Cognos. Accordingly, you will not disclose any Confidential Information to any third party either: (a) during
the term of your employment with Cognos (whether 

  

 134 

 
under this Agreement or any predecessor or successor to it), except as may be necessary for you to properly discharge your duties under this Agreement, or
(b) following the termination of your employment, however caused, except with the written permission of Cognos. Any obligations of confidentiality arising under previous agreements with Cognos are continued and amended to conform with the terms
of this Agreement. The foregoing restriction does not apply to any information or knowledge that becomes part of the public domain other than by unauthorized disclosure by you. 
 9.03    Any inventions, discoveries, or copyrightable works developed or contributed to by you during the course of your duties, whether under this Agreement or any
predecessor or successor to it, including without limitation: software source or object code (and any underlying algorithms or other components), product or promotional material, manuals, contractual documentation, and training or education
materials (individually and collectively, the "Works"), are the sole and exclusive property of Cognos including, without limitation, all copyright and other intellectual property rights in or to the Works. You waive any and all moral rights you may
have in any Works. You will execute any additional documents deemed necessary by Cognos to apply for, convey or confirm its rights in or to the Works, whether during or after the termination of this Agreement, however caused. You warrant that any
Work does not infringe the copyright or other rights of any third party and that the rights you grant to Cognos in this Agreement are vested in you absolutely and you have not previously assigned, licensed, or in any way encumbered the Work. This
Section is binding on your heirs, successors and assigns and will survive the termination of this Agreement. 
 10.    Computer Security:    It is the policy of Cognos to adhere strictly to the licensing conditions of any software that it uses. You are required to comply with this policy. You will not
copy or distribute for your own use or for the use of any other person or company any software used or developed by Cognos without (a) obtaining the authorization of your supervisor and (b) taking all reasonable precautions to ensure that
your use of the software neither corrupts nor destroys any existing software or data. 
 11.    Termination: 
 11.01    You may resign your employment voluntarily upon giving
thirty (30) days prior written notice to Cognos. Cognos may waive the said notice by providing you with pay in lieu of notice. Upon resignation, you will have no entitlement to compensation except for unpaid base salary, reimbursement for
expenses contemplated in Section 6, and vacation earned to the effective date of resignation. All of your benefits will cease upon the effective date of your resignation. 
 11.02    Cognos may terminate your employment at any time for Just Cause, on notice, but without compensation in lieu of notice except for unpaid base salary, reimbursement
for expenses contemplated in Section 6, and vacation earned to the date of termination. All of your benefits will cease immediately upon termination of your employment for Just Cause. Any notice given by Cognos terminating your employment as
contemplated above will also specify the basis for the ‘Just Cause’ underlying that termination. 
  

 135 

 11.03    If your employment is terminated by Cognos without Just Cause or you
terminate your employment for any Good Reason, then the following provisions shall apply: 
 (a)    Cognos
will pay you a lump sum equal to your prevailing Base Salary and Target Bonus for either (i) eighteen (18) months, or (ii) if such termination occurs within twelve (12) months following the date of any Change of Control (as
defined in Annex B, twenty-four (24) months), as the case may be; 
 (b)    You shall also be
entitled to be paid a lump-sum amount in respect of your Target Bonus up to the date of your termination, being the amount of the Target Bonus pro-rated for the period commencing with the start of the fiscal year that you are terminated and ending
on the date of the termination of your employment (excluding any notice period provided in this Agreement); 
 (c)    Cognos will continue, to the extent permitted by its carriers, all benefits and perquisites (including without limit, use of leased automobile, mobile phone or PDA and maintenance of club memberships) for the
relevant period as provided in sub-section 11.03(a), but if Cognos cannot continue to provide any benefit, it shall compensate you for the reasonable cost of your obtaining that benefit to the extent you can obtain such benefit from a similar
carrier; 
 (d)    Despite the terms of any plan or agreement to the contrary, all of your entitlements or
rights pursuant to any share option or restricted stock shall continue to vest during the eighteen (18) month period following the date of termination, and once vested shall be exercisable in accordance with the terms of the applicable plan.

 (e)    Cognos shall reimburse the Executive, upon presentation of the appropriate invoices, to a
maximum of $20,000.00 plus GST, for travel and living expenses related to seeking employment opportunities and to obtain outplacement advice in connection with the cessation of his employment. 
 11.04    If your employment is terminated by Cognos without Just Cause or if you terminate your employment for Good Reason and if that termination by Cognos or by you occurs
on or within twelve (12) months following the date of any Change of Control (as defined in Annex B), then, despite the terms of any plan or agreement to the contrary, all of your entitlements or rights pursuant to any share option, restricted
stock, deferred bonus or any other plan shall automatically become fully vested, and once vested shall be exercisable in accordance with the terms of the applicable plan. 
 11.05    The terms “Good Reason”, “Just Cause” and “Change of Control” will have the meanings ascribed thereto in Annex B to this Agreement. 
  

 136 

 11.06    Coincident with, or immediately following termination of your employment,
for whatever reason, you will surrender to Cognos any documents or electronic media containing Confidential Information referred to in Section 9, as well as any other property of Cognos in your control or possession that are not
‘benefits’ as contemplated in Section 11.03 (including without limitation: access passes, equipment, credit cards, keys, books, records, reports, files, manuals, and literature) in good condition, normal wear and tear excepted.

 11.07    Except to the extent contemplated in Section 11.03, you shall not be entitled to any bonus or incentive
payment which is not earned as of the date of termination of your employment. 
 11.08    Immediately following
termination of your employment, for whatever reason, you will repay any outstanding debts or advances owing by you to Cognos and you authorize Cognos to deduct the amount of those debts or advances from any compensation amount payable to you
following your termination. 
 11.09    You will not at any time after termination of your employment represent yourself
as being in any way connected or interested in the business of Cognos or any of its group companies worldwide. 
 12.    Non-Solicitation of Employees:    You will not, during your employment and for the period ending eighteen (18) months after the date your employment is terminated, without the
written consent of Cognos, directly or indirectly (a) employ or retain as an independent contractor any employee of Cognos or any subsidiary or induce or solicit, or attempt to induce, any such person to leave his or her employment,
(b) contact or solicit any designated customers of Cognos or any subsidiary for the purpose of selling to those designated customers any products or services which are the same as, or competitive with, the products or services sold or licensed
by Cognos Incorporated or any subsidiary. For the purpose of this section, a “designated customer” means a person who was a customer of the Cognos or any subsidiary at any time during the twelve (12) months preceding the date that
your employment terminated. 
 13.    Non-Competition:    Unless such provision is waived by
Cognos in writing, you will not, during your employment and for the period ending twelve (12) months after the date your employment is terminated, directly or indirectly or in any manner whatsoever, including either individually, or in
partnership, jointly or in conjunction with any other person, or as principal, agent, owner, consultant, contractor, employee, executive, officer, director, advisor or shareholder: (a) be engaged in any undertaking, or (b) have any
financial or other interest (including an interest by way of royalty or compensation arrangements) in or in respect of the business of any person which carries on a business; or (c) accept employment with, advise, render or provide services to,
lend money to or guarantee the debts or obligations of any person or entity that carries on a business or undertaking anywhere, that is in competition with the products or services created, developed or under development, manufactured or planning to
be manufactured, 

  

 137 

 
marketed or planning to be marketed, distributed or planning to be distributed, sold or planning to be sold, by Cognos or any subsidiary at the time of your
termination or within the six (6) month period prior to that date. 
 Despite the above, you may own not more than five percent
(5%) of any class of securities of an entity, the securities of which are listed on a recognized stock exchange or traded in the over the counter market in the United States or Canada, that carries on a business which is the substantially same
as or which competes with the business of Cognos Incorporated or any subsidiary or any of its subsidiaries 
 14.    Non-Disparagement:    In further consideration of the amounts and rights granted or received or to be granted or received under this Agreement, you will not, during the twelve
(12) month period following the termination of your employment (howsoever caused), utter, publish or broadcast any statements that disparage Cognos or any subsidiary (including its subsidiaries) or be critical in any manner or fashion of Cognos
or its business, including without limitation, its business strategy, products, management or employees. 
 15.    Legal Assistance:    You will, during this Agreement and for a period two (2) years following its termination (however caused), supply such information and render such assistance as
may be reasonably required by Cognos or any affiliated company in connection with any legal or quasi-legal proceeding to which either is or becomes a party. Cognos will reimburse you for your reasonable expenses in providing the foregoing
assistance. 
 16.    Assignment of Rights:    The rights accruing to Cognos under this
Agreement will pass to its successors or assigns. Your rights under this Agreement are not assignable or transferable in any manner except as required or permitted by operation of law. 
 17.    Notices:    Any notice required or permitted to be given under this Agreement will be given in writing by personal delivery, registered mail
or by electronic means with receipt confirmed, to you at your last known address and to Cognos at its head office to the attention of the Chief Legal Officer. 
 18.    Severability:    If any provision or part of this Agreement is deemed, or found to be, void, unenforceable or invalid by a court of competent jurisdiction, its
remaining provisions or parts will remain in full force and effect. 
 19.    Amendment of
Agreement:    Any amendment or modification of this Agreement will be in writing and signed by the parties or it will have no effect. 
 20.    Governing Law & Arbitration:    This Agreement will be governed by and construed in accordance with the laws of Ontario. The sole forum for any dispute
arising from this Agreement or the Executive’s employment with Cognos will the courts of Ontario located in the City of Ottawa, Ontario. 
  

 138 

 21.    Entire Agreement:    This Agreement, including the
Offer Letter attached as Annex C, is the entire agreement between you and Cognos to your employment with Cognos and supersedes all previous agreements. This Agreement and the attachments shall be read and construed as a single document but if
there is any conflict between them the conflict shall be resolved in accordance with the following order of precedence: this Agreement, Annex B, Annex C, Annex A (or any subsequent Compensation Plan contemplated in Section 5.01),
and the terms of any stock option, restricted stock or other equity award agreement between you and Cognos. There are no warranties, representations or agreements between the parties in connection with the subject matter of this Agreement except as
specifically set forth or referred to in this Agreement. No reliance is placed on any representation, opinion, advice or assertion of fact made by the Corporation or its directors, officers and agents to you, except to the extent reduced to writing
and included as a term of this Agreement. 
 24.    Acknowledgement:    You and Cognos
acknowledge that each party: (a) has had sufficient time to review and consider this Agreement thoroughly; (b) has read and understands the terms of this Agreement and his or its obligations hereunder; (c) been advised to retain
independent legal advice concerning the interpretation and effect of this Agreement, and (d) has entered into this Agreement voluntarily and without any pressure. 
 IN WITNESS the parties have executed this Agreement as a deed with effect as of the Effective Date. 
  

							
	COGNOS INCORPORATED:	    		    	
		 		    		    	
	 By
	 	/s/  Robert G. Ashe	    	Chief Executive Officer	    	 February 26, 2007

		 	Rob Ashe	    	Title	    	Date
		 		    		    	
	EMPLOYEE:	    		    	
		 		    		    	
		 	/s/  Phillippe Duranton	    		    	April 16, 2007
		 	Phillippe Duranton	    		    	Date
		 		    		    	
	WITNESS:	    		    	
		 		    		    	
		 	/s/  Susan Henry	    		    	April 16, 2007
		 	Susan Henry	    		    	Date
		 		    		    	

  

 139 

 ANNEX A 
 FY08 Compensation Plan 
 Base Salary:     US $325,000

 Signing Bonus:     US $100,000 
 The signing bonus will be paid to you on the first regular paycheque you receive after the your commencement of employment with Cognos. If you leave without “Good Reason” or your
employment is terminated for “Just Cause” on or before the second anniversary of the Effective Date, you will repay the Signing Bonus on a pro rata basis. 
 Target Bonus:     US $162,500 
 The actual bonus payable to You will be determined in accordance with Cognos’ Share in Success Program (“SIS”), including the SIS Grid approved by Cognos’ Board of Directors, or subsequently
pursuant to any successor or replacement bonus/incentive mechanism established by Cognos in accordance with its practices and procedures. 
 For the FY08 year only, You will be entitled to not less than a 100% payout of your Target Bonus (US $162,500) unless the Effective Date occurs after May 2, 2007, in which case your 100% payout will be prorated over the period of
actual service during the year – based on a 365 day year. 
 Benefits Summary: 
 Canadian Benefits Program as amended from time to time by Cognos. 
 Repayment of Bonus: 
 If the audited financial statements of Cognos in respect of any fiscal year are,
or are required to be, subsequently re-stated in any material respect, and for reasons that the Human Resources Committee of the Cognos’ Board of Directors deems, in its sole discretion, to be based on error, malfeasance or negligence, then any
bonus payout based on those financial statements will be recalculated. 
 If the recalculated bonus payout (“Recalculated
Bonus”) is greater or less than the original bonus payout to the Executive prior to the re-statement (“Original Bonus”), the Original Bonus will be adjusted by the difference between the Original Bonus and Recalculated
Bonus (the “Adjustment Amount”). If the Original Bonus is greater than the Recalculated Bonus, the Executive will pay within forty-five (45) days the Adjustment Amount to the employing Cognos entity (subject to such other
repayment 

  

 140 

 
terms as may be approved by the Human Resources Committee of the Board of Cognos). Any repayment made by the Executive to Cognos will be net of any taxes
originally withheld at source by Cognos and remitted to any tax authority in respect of the Adjustment Amount (“Tax Withholding Amount”). Any subsequent refund to the Executive of any taxes in respect of the Original Bonus will be
immediately payable by Executive to Cognos upon receipt, up to the Tax Withholding Amount. If the Original Bonus is less than the Recalculated Bonus, Cognos will forthwith pay the Adjustment Amount to the Executive, less any deductions at source
required by applicable law. This provision forms part of the Agreement and shall be a term of the Executive’s employment, unless otherwise agreed upon, in writing, by Cognos and the Executive. 
  

 141 

 Annex B 
 (DEFINITIONS) 
  

	1.	 “CHANGE OF CONTROL” MEANS: 

  

	 	i.	 Cognos Incorporated (hereinafter the “Corporation” for the purposes of this Schedule) is amalgamated, merged, consolidated or reorganized into or with
another corporation or other legal person (excluding an Affiliate of the Corporation), and as a result the holders of the voting shares immediately prior to that transaction hold less than a majority of the voting shares after that transaction;

  

	 	ii.	 any individual, entity or group acquires or becomes the beneficial owner of, directly or indirectly, more than 50% of the voting securities of the Corporation,
whether through acquisition of previously issued and outstanding voting shares, or of voting shares that have not been previously issued, or any combination thereof, or any other transaction of similar effect; 

  

	 	iii.	 the Corporation sells or otherwise transfers all or substantially all of its assets to any other corporation or other legal person, and as a result the holders
of voting shares immediately prior to that transaction hold less than a majority of the voting shares of the acquiring corporation or person immediately after such transaction; 

  

	 	iv.	 more than 50% of the voting shares become subject to a voting trust; 

  

	 	v.	 a report is filed pursuant to the Canada Business Corporations Act or under the Securities Act, Ontario or the Securities Exchange Act of 1934, as amended,
disclosing that any person (as defined in the applicable legislation) has become the beneficial owner of securities representing more than 50% of the voting shares; or 

  

	 	vi.	 if, during any period of two consecutive years, the individuals who at the beginning of that period are the directors of the Corporation cease for any reason to
be at least a majority of the membership of the Board, unless the election, or the nomination for election by the Corporation’s shareholders, of each director of the Corporation first elected during that period was approved by a vote of at
least two-thirds of the directors then still in office who were also directors of the Corporation at the beginning of that period. 

 Provided that a Change in Control is deemed not to occur solely because any one of the following entities either files or becomes obligated to make a filing or submit a report contemplated above, namely:
(i) Corporation, (ii) an entity in which Corporation directly or indirectly beneficially owns 50% or more of the voting securities, (iii) any Corporation sponsored employee stock ownership plan or any other employee benefit plan of
Corporation, or (iv) any corporation or legal person similar to the foregoing which is 

  

 142 

 
approved by the Board of Directors of Corporation prior to the occurrence of the event that, absent such approval by the Board of Directors of Corporation,
would have constituted a Change in Control. 
  

	2.	 For the purposes of this agreement “Good Reason” means the occurrence of any of the following: 

  

	 	i.	 Without your express written consent, the assignment to you of any duties materially inconsistent with your position, duties and responsibilities with Cognos,
except in connection with the termination of your employment for Just Cause or as a result of your death, disability or retirement; 

  

	 	ii.	 any material reduction in your annual Base Salary, benefits or perquisites, not similarly applied to all senior executives of the Corporation;

  

	 	iii.	 a material reduction in your ability to earn incentive compensation not similarly applied to all senior executives of the Corporation excluding a reduction
caused by the failure of Cognos or you to meet incentive compensation targets or goals; 

  

	 	iv.	 the failure to continue your participation in any share option, share purchase, profit-sharing, bonus or other incentive compensation plan not similarly applied
to all senior executives of the Corporation unless a plan providing a substantially similar opportunity is substituted, and 

  

	 	v.	 the location of the Cognos’ facilities where you are based being relocated (a) more than 50 km from its current location and (b) more than 50 km
further from your residence, and 

  

	 	vi.	 any act or series of acts of Cognos constituting constructive dismissal under the Laws of Ontario. 

  

	 	vii.	 Your ceasing to be the most senior Human Resources executive in the Cognos group of companies, excluding any situation that follows or is the result of any
Change of Control. 

  

	3.	 “Just Cause” means: 

  

	 	i.	 the willful failure by you to perform your duties (other than by reason of any bona fide disability); 

  

	 	ii.	 your misconduct involving the property, business or affairs of Cognos, or in the carrying out of your duties or your theft, fraud or dishonesty;

  

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	 	iii.	 your material breach of this Agreement; or 

  

	 	iv.	 any other conduct by you that would be determined by the courts of Ontario to constitute just cause from time to time. 

  

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 Annex C 
 (Offer Letter) 
 February 26, 2007 
 Mr. Philippe Duranton 
 Hameau des Amandiers 
 Domaine de Frégate 
 Saint-Cyr-Sur-Mer 
 83270 
 France 
 Dear Philippe, 
 Further to our recent conversations, I am pleased to offer you employment with Cognos
Incorporated as Senior Vice President, Human Resources, reporting directly to me. Your employment with us will commence as soon as you are reasonable to commence employment but no later than June 1, 2007. However, you use your reasonable best
efforts to commence employment on or about April 2, 2007. Our offer of employment comprises the following terms and conditions. 
 Base
Salary & Incentive 
 Your annual base salary will be $325,000 (all dollar amounts are in U.S. dollars unless otherwise
stated). You will also participate in the Company’s incentive plan and, at your level, will be eligible for an annual incentive opportunity of 50% of your base salary (Target Bonus”). The actual percentage payout of your Target Bonus will
be based on corporate and individual performance, determined under Cognos Share in Success (SIS) Program (or any successor program), and will be payable following the release of audited financial statements for the fiscal year. Despite the
foregoing, you will be guaranteed 100% payout of your Target Bonus for the FY08 fiscal year, unless your employment commences after May 2, 2007, in which case your Target Bonus payout will be pro-rated over your actual period of service based
on a 365 day year. Although your compensation is denominated in US dollars, for payroll purposes your compensation will be converted to Canadian dollars. Other aspects of your compensations plan will be reviewed annually and approved by senior
management and, if necessary, the Board of Directors, as per the requirements for your role. 
 Signing Bonus 
 Upon joining Cognos you will be paid a one-time signing bonus of $100,000 payable on the first pay cheque you receive after commencing employment. Should
you leave Cognos without “Good reason” or be terminated for “Just Cause” (both as defined in your Employment Agreement) prior to the second anniversary of your joining date, you will be required to repay the bonus on a pro-rated
basis. 
  

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 Stock Options 
 We will grant you options to acquire 40,000 shares of Cognos stock under the terms of the
Cognos Incorporated 2003-2015 Stock Option Plan, subject to the approval of our Board of Directors. While this award has been approved in principle by the Human Resources and Compensation Committee of the Board the official grant date of the
options will be the third (3rd) trading day following the next release of our audited financial results
following your start date (“Equity Plan Award Date”). The strike price of your options will be the closing market price the day preceding the Equity Plan Award Date. You must be a Cognos employee on the grant date to be eligible to
receive these stock options. Those options will vest equally on the first 4 anniversaries of grant and expire on the 6th anniversary. If you commence employment on or about April 2, 2007, we will make representations to the Human Resources and Compensation Committee of the Board to the effect that your options be granted as at the date of
that meeting as an exception to our policy of awarding options on the Equity Plan Award Date. We cannot guarantee that this will be successful or that this may be impossible in order to comply with legal or regulatory obligations. 
 Restricted Stock Units 
 Upon joining us, you
will be awarded 20,000 Restricted Stock Units (RSUs). These units are granted under the terms of the Cognos Incorporated 2002-2015 Restricted Stock Unit Plan and Grant Agreement which will be provided to you at the time of grant, and are
subject to approval by our Board of Directors. The grant date will be the third day following the subsequent release of company financial results after your hire date, as described in the preceding paragraph. RSUs entitle you to acquire common
shares of the Company. Each RSU, upon vesting, is exchangeable for 1 Share of Cognos Incorporated common stock. We will make the same representations with respect to RSU’s as undertaken with respect to Stock Options above, subject to the
same cautionary language. 
 Relocation to Ottawa 
 In recognition of the costs associated with moving to the Ottawa area, Cognos will provide you with relocation assistance, including but not limited to the following: 
  

	•	 	 House hunting trip expenses as required; 

	•	 	 Transportation of your family to Ottawa and associated travel & living expenses; 

	•	 	 Temporary accommodation for a reasonable period of time, if required; 

	•	 	 Real estate commissions, reasonable legal fees and mortgage repayment penalty charges in each case associated with the sale of your principle residence

	•	 	 Packing, shipping, storing and unpacking of household goods 

	•	 	 Assistance obtaining any necessary immigration approvals; 

	•	 	 Services of Dada Destination Services to assist your family with the transition to a new city/country; 

 Cognos will consider other reasonable relocation-related expenses provided they are approved in advance and supported by receipts. All expenses must be
approved by Cognos and supported by receipts. 
  

 146 

 Should you voluntarily leave within twenty-four (24) months of your employment with Cognos, you will
be required to repay the relocation expenses on a pro-rated basis. Ms. Henry will assist you with the coordination of your relocation. Please contact her as soon as possible at (613) 738-1338 extension 3185, or via email at
susan.henry@cognos.com. 
 Tax Advice 
 To assist you in understanding the tax implications of this offer, we will reimburse, or pay on your behalf, fees incurred to retain the services tax advisors, to a maximum of CDN $15,000. As well, part of your benefit package includes
reimbursement for tax advice to a maximum of CDN $15,000 annually and otherwise subject to the enclosed Executive Tax Assistance policy. 
 Health
Benefits 
 You will be enrolled in the Cognos Incorporated employee benefits program. The Ontario Health Insurance Plan (OHIP) is
only effective three months after your arrival in Canada. To cover the initial three months, Cognos will provide you with temporary provincial medical coverage for a period of 3 months. Please complete the enclosed form “Ottawa High Tech OHIP
Replacement Enrollment Application” and return it with this offer letter. 
 Vacation 
 You will receive 25 days annual vacation accrual. This amount will remain fixed but be governed otherwise by our prevailing policy in that regard.

 Other Benefits 
 Cognos will
provide you with a leased car of your choice (to a maximum annual lease rate of CDN $26,000), including maintenance expenses and insurance. 
 You will receive an annual corporate membership at the Ottawa Hunt & Golf Club consisting of reimbursement of initiation and annual dues. 
 For each of the two years following the Effective Date, Cognos will reimburse you, for airfare incurred for family travel between Canada and Marseille up to annual total of USD$25,000. After that period you will be
entitled to reimbursement for airfare incurred for family travel between Canada and Marseille up to annual total of USD$12,500. 
 Other

 As a senior office of Cognos, you will be subject to the Cognos Insider Trading Policy and its Executive Stock Ownership
Guidelines. Copies of these documents are attached. 
  

 147 

 Enclosed is an Employment Agreement for your review. Please review it carefully. If you have any
questions regarding the Agreement please contact John Jussup our Senior Vice President, Chief Legal Officer and Secretary at (613) 738-1338 extension 3364, or via email at john.jussup@cognos.com. Once you are comfortable with the Agreement
please sign it and a copy of this letter in the spaces provided and return them to me. 
 Philippe, I am excited about having you become a
member of the Cognos team. I look forward to working with you and I am confident you will find the relationship rewarding and challenging. 
 Sincerely, 
  

			
	COGNOS INCORPORATED
		
	By:	 	 /s/ Robert G. Ashe

		 	 Rob Ashe
 President &
CEO

  
 I ACCEPT THE OFFER OF EMPLOYMENT SET OUT
IN THE FOREGOING LETTER. 
  

			
	
		
		 	/s/ Phillippe Duranton
		 	Philippe Duranton

 Enclosures:     Employment Agreement 
 RSU Plan 
 Stock Option Plan 
 Insider Trading Policy 
 Executive Stock Ownership Guidelines 
 Executive Tax Assistance Policy 
 Canadian Cognos Benefits Summary 
 OHIP Replacement Enrollment Application 
  

 148

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