Document:

Form of Performance Shares Agreement for the 2007-2009 Performance Cycle

 Exhibit 10.5 
 

 
 PERFORMANCE SHARES AGREEMENT 
 Under the Bristol-Myers Squibb Company 
 2002 Stock Incentive Plan 
 2007-2009 Performance Cycle 
 This Performance
Shares Agreement (the “Agreement”) confirms the authorization of a grant of a Performance Award, by BRISTOL-MYERS SQUIBB COMPANY, a Delaware corporation (the “Company”), to the Participant named below (“you”), under
Section 7 of the 2002 Stock Incentive Plan (the “Plan”), such Performance Award to be designated as “Performance Shares,” on the terms and conditions specified in this Agreement, as follows: 
 Award Date: March 6, 2007 
 Performance
Cycle Start Date: January 1, 2007 
 Target Number of Performance Shares authorized for 2007-2009 performance cycle: 
 2007 Performance Shares (07-09 Cycle): 
 2008 Performance Shares (07-09 Cycle): 
 2009 Performance Shares (07-09 Cycle): 
 Total Performance Shares (07-09 Cycle): 
 The year referenced for each of these three “tranches” is the “Performance Year” for that tranche. 
 Range at
which Performance Shares may be earned for varying performance: 
 Threshold: 45% of Target 
 Target: 100% of Target 
 Maximum: 220% of
Target 
 Performance Goal and Earning Date: A separate Performance Goal will be set for each tranche by March 30 of the Performance
Year, specifying the number of Performance Shares that may be earned for specified levels of performance. The Earning Date will be December 31 of the Performance Year. The Performance Goal for the 2007 Performance Shares is attached as Exhibit
A hereto. 
 Vesting: Earned Performance Shares will vest at the date between January 1, 2010 and March 15, 2010, at which the
Committee determines and certifies the extent to which the Performance Goals for the 2009 Performance Shares have been met, subject to earlier vesting at the times indicated in Sections 6 and 8. 
 Settlement: Earned and vested Performance Shares will be settled by delivery of one share of the Company’s Common Stock, $0.10 par value per share
(“Shares”), for each Performance Share being settled. No dividend equivalents will accrue or be payable in connection with Performance Shares. Settlement shall occur at the time specified in Section 4 hereof. 
  

 E-10-5 

	1.	PERFORMANCE SHARE AWARD 

 The Compensation and
Management Development Committee of the Board of Directors of Bristol-Myers Squibb Company (the “Committee”) has granted to you the opportunity to earn the 2007 Performance Shares as designated herein subject to the terms, conditions and
restrictions set forth in this Agreement. In addition, the Committee hereby indicates its intention to grant to you the opportunity to earn the 2008 Performance Shares and the 2009 Performance Shares for the 2007-2009 performance cycle and subject
to this Agreement; such grants shall become effective only at such time as the Committee has specified the Performance Goal for those Performance Shares (by March 30 of the relevant Performance Year). The target number of each tranche of
Performance Shares and the kind of shares deliverable in settlement, the calculation of earnings per share as a Performance Goal, and other terms and conditions of the Performance Shares are subject to adjustment in accordance with Section 11
hereof and Section 10 of the Plan. The beginning of each Performance Year shall be deemed the commencement of a separate “award period” for purposes of Plan Sections 7(a) and (b)(3), (5), (6), (8), and (10). The Performance Shares are
granted independently and not in conjunction with any stock option. The award period shall be deemed to extend for the period in which the Performance Shares are subject to a risk of forfeiture in order to give effect to the vesting requirements of
this Award, but the period during which performance is measured shall be the Performance Year relating to particular Performance Shares. 
  

	2.	CONSIDERATION 

 As consideration for grant of 2007
Performance Shares, you shall remain in the continuous employ of the Company and/or its Subsidiaries or Affiliates for at least one year from the Performance Cycle Start Date or such lesser period as the Committee shall determine in its sole
discretion, and no Performance Shares shall be payable until after the completion of such one year or lesser period of employment by you. No 2008 Performance Shares or 2009 Performance Shares shall be granted hereunder unless you have met the
one-year continuous employment requirement specified in this Section 2, measured from the Performance Cycle Start Date. 
  

	3.	PERFORMANCE GOALS  

 The Performance Goals for the
2007 Performance Shares are specified on the cover page of this Agreement and Exhibit A hereto, and for the 2008 Performance Shares and 2009 Performance Shares shall be specified in writing in such manner as the Committee may determine. 

 

	4.	DETERMINATION OF PERFORMANCE SHARES EARNED AND VESTED; FORFEITURES; SETTLEMENT 

 By March 15 of the year following each Performance Year, the Committee shall determine the extent to which Performance Shares have been earned on the basis of the Company’s actual performance in relation to
the established Performance Goals for the Performance Shares relating to that Performance Year, and shall certify these results in writing in accordance with Plan Section 7(b)(6), subject to any limitation under Section 7 hereof (if you
are Disabled during the Performance Year in excess of 26 weeks). Any Performance Shares that are not earned by performance in a Performance Year (or deemed to be earned in connection with a termination of employment under Sections 6 and 8 below),
including Performance Shares that had been potentially earnable by performance in excess of the actual performance levels achieved, shall be canceled and forfeited. 
  

 E-10-5 

 Performance Shares are subject to vesting based on your service for periods which extend past the
applicable Performance Year. The stated vesting date is set forth on the cover page hereof. If, before the stated vesting date, there occurs an event immediately after which you are not an employee of the Company, its subsidiaries or an affiliate of
the Company, you will become vested in Performance Shares only to the extent provided in Section 6 or 8, and any Performance Shares that have not been earned and vested at or before such event and cannot thereafter be earned and vested under
Sections 6 or 8 shall be canceled and forfeited. 
 In certain termination events as specified below and in connection with a long-term
Disability (as defined in Section 7), you will be entitled to vesting of a “Pro Rata Portion” of the Performance Shares earned or deemed earned hereunder. For purposes of this Agreement, in the case of a termination of employment, the
Pro Rata Portion is calculated as the number of Performance Shares relating to a given Performance Year multiplied by a fraction the numerator of which is the number of months you were employed from the commencement of that Performance Year through
the end of the month in which your termination of employment occurred (but not more than 12) and the denominator of which is 12; provided, however, that the number of months you were employed shall be reduced by the number of months during such
Performance Year in which you were Disabled in excess of 26 weeks since the commencement of the Disability. For purposes of this Agreement, in the case of a Disability extending longer than 26 weeks, the Pro Rata Portion is calculated as the number
of Performance Shares relating to a given Performance Year multiplied by a fraction the numerator of which is 12 minus the number of months you were Disabled in excess of 26 weeks since the commencement of the Disability, and the denominator of
which is 12. For purposes of calculations under this paragraph: (a) one or more days worked in a given month is counted as a full month of employment; and (b) one or more days on Disability in a given month in which the duration of
Disability has not yet exceeded 26 weeks is also counted as a full month of employment. 
 The number of Performance Shares earned or vested
shall be rounded to the nearest whole Performance Share, unless otherwise determined by the Company officers responsible for day-to-day administration of the Plan. 
 Performance Shares that become vested while you remain employed by the Company or a subsidiary or affiliate shall be settled promptly upon vesting by delivery of one Share for each Performance Share being settled,
unless validly deferred in accordance with deferral terms then authorized by the Committee (subject to Plan Section 13). Performance Shares that become vested under Sections 6(a), 6(b), or 8 shall be settled at the times specified therein;
provided, however, that settlement of Performance Shares under Section 6(a) or (b) shall be subject to the applicable provisions of Plan Section 13(a). (Note: Section 13 could apply if settlement is triggered by a Change in
Control or a termination following a Change in Control). Until Shares are delivered to you in settlement of Performance Shares, you shall have none of the rights of a stockholder of the Company with respect to the Shares issuable in settlement
of the Performance Shares, including the right to vote the shares and receive dividends and other distributions. Shares of stock issuable in settlement of Performance Shares shall be delivered to you upon settlement in certificated form or in such
other manner as the Company may reasonably determine. 
  

	5.	NONTRANSFERABILITY OF PERFORMANCE SHARES AND DESIGNATION OF BENEFICIARY 

 Performance Shares shall not be transferable other than by will or by the laws of descent and distribution, except that you may designate a beneficiary pursuant to the provisions hereof on a Designation of Beneficiary
form. 
  

 E-10-5 

 If you and/or your beneficiary shall attempt to assign your rights under this Agreement in violation of
the provisions herein, the Company’s obligation to settle Performance Shares or otherwise make payments shall terminate. 
 If no
designated beneficiary is living on the date on which shares are deliverable in settlement or other amount becomes payable to you, or if no beneficiary has been specified, such settlement or payment will be payable to the person or persons in the
first of the following classes of successive preference: 
  

	 	(i)	Widow or widower, if then living, 

  

	 	(ii)	Surviving children, equally, 

  

	 	(iii)	Surviving parents, equally, 

  

	 	(iv)	Surviving brothers and sisters, equally, 

  

	 	(v)	Executors or administrators 

 and the term “beneficiary” as used
in this Agreement shall include such person or persons. 
  

	6.	RETIREMENT AND OTHER TERMINATIONS (EXCLUDING DEATH) 

 (a) In the event of your Retirement (as defined in the Plan) prior to settlement of Performance Shares and after you have satisfied the one-year employment requirement of Section 2, you will be deemed vested (i) in any Performance
Shares that relate to a Performance Year completed before your Retirement and which have been determined or thereafter are determined by the Committee to have been earned under Section 4, and (ii), with respect to Performance Shares relating to
a Performance Year in progress at the date of your Retirement, in a Pro Rata Portion of the Performance Shares you would have actually earned for that Performance Year if you had continued to be employed through the date the Committee determines the
earning of the Performance Shares for that Performance Year under Section 4. Any Performance Shares earned and vested under this Section 6(a) shall be settled at the earlier of (i) the date such Performance Shares would have vested if
you had continued to be employed by the Company or a subsidiary or affiliate, (ii), in the event of a Change in Control, as to previously earned Performance Shares promptly upon the Change in Control (subject to Section 6(d)) and, in the case
of any unearned Performance Shares, promptly following the date at which the Committee determines the extent to which such Performance Shares have been earned (in each case subject to Section 13 of the Plan) or (iii), in the event of your
death, in the year following the Performance Year in which your Retirement occurred (following the Committee’s determination of the extent to which any remaining unearned Performance Shares have been earned) or, if your death occurred after
that year, as promptly as practicable following your death. Following your Retirement, any Performance Shares that have not been earned and vested and thereafter will not be deemed earned and vested under this Section 6(a) will be canceled and
forfeited. 
 (b) In the event that you have a Qualifying Termination (i.e., a termination for a “qualifying reason”) as defined in
Plan Section 6(b)(14)(B) during the three- (3) year period following a Change in Control (as defined in the Plan), you will be deemed vested (i) in any Performance Shares that relate to a Performance Year completed before such
termination and which have been determined or thereafter are determined by the Committee to have been earned under Section 4, and (ii), with respect to Performance Shares relating to a Performance Year in progress at the date of your Qualifying
Termination (including Performance Shares otherwise not meeting the one-year requirement of Section 2), in a Pro Rata Portion of the target number of Performance Shares that could have been earned in the Performance Year. Any Performance Shares
earned and vested under this Section 6(b) shall be settled within ten business days, subject to Section 6(d) and Section 13 of the Plan; provided, however, any additional forfeiture conditions in the nature of a “clawback”
contained 

  

 E-10-5 

 
in Section 10 of this Agreement shall continue to apply to any payment. Upon your Qualifying Termination, any Performance Shares that have not been
deemed earned and vested under this Section 6(b) will be canceled and forfeited. 
 (c) If you cease to be an employee of the Company
and its subsidiaries and affiliates for any reason other than Retirement, death or a Qualifying Termination within three (3) years following a Change in Control, Performance Shares granted herein that have not become both earned and vested
shall be canceled and forfeited and you shall have no right to settlement of any portion of the Performance Shares. 
 (d) Certain of the
Performance Shares may constitute a “deferral of compensation” (a “409A Deferral”) under Section 409A of the Internal Revenue Code (the “Code”), based on regulations and guidance under Section 409A. As a
result, the timing of settlement of your Performance Shares will be subject to applicable limitations under Section 409A. Specifically, each tranche of Performance Shares will be deemed to be a separate payment for purposes of
Section 409A, and each will be subject to Section 13 of the Plan, including the following restrictions on settlement: 
  

	 	(i)	In the case of Performance Shares which constitute a 409A Deferral, settlement under Section 6(b) upon a Qualifying Termination will be subject to the requirement that the
termination constitute a “separation from service” under Treasury Regulation § 1.409A-1(h), and subject to the six-month delay rule under Plan Section 13(a)(iii)(B) if at the time of separation from service you are a “key
employee.” 

  

	 	(ii)	In the case of Performance Shares which constitute a 409A Deferral, settlement under Section 6(a) triggered by the Change in Control (i.e., previously earned Performance
Shares) will occur only if an event relating to the Change in Control constitutes a change in ownership or effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company within the meaning of
Treasury Regulation § 1.409A-3(i)(5). 

  

	7.	DISABILITY OF PARTICIPANT 

 For purposes of this
Agreement, “Disability” or “Disabled” shall mean qualifying for and receiving payments under a disability plan of the Company or any subsidiary or affiliate either in the United States or in a jurisdiction outside of the United
States, and in jurisdictions outside of the United States shall also include qualifying for and receiving payments under a mandatory or universal disability plan or program managed or maintained by the government. If you become Disabled, you will
not be deemed to have terminated employment for the period during which, under the applicable Disability pay plan of the Company or a subsidiary or affiliate, you are deemed to be employed and continue to receive Disability payments. Upon the
cessation of payments under such Disability pay plan, (i) if you return to employment status with the Company or a subsidiary or affiliate, you will not be deemed to have terminated employment, and (ii), if you do not return to such employment
status, you will be deemed to have terminated employment at the date of cessation of such Disability payments, with such termination treated for purposes of the Performance Shares as a Retirement, death, or voluntary termination based on your
circumstances at the time of such termination. If you have been Disabled for a period in excess of 26 weeks in the aggregate during one or more Performance Years, for each affected Performance Year you will earn only a Pro Rata Portion of the
Performance Shares you otherwise would have earned in respect of such a Performance Year. 
  

 E-10-5 

	8.	DEATH OF PARTICIPANT 

 In the event of your death
while employed by the Company or a subsidiary and prior to settlement of Performance Shares but after you have satisfied the one-year employment requirement of Section 2, you will be deemed vested (i) in any Performance Shares that relate
to a Performance Year completed before your death and which have been determined or thereafter are determined by the Committee to have been earned under Section 4, and (ii), with respect to Performance Shares relating to a Performance Year in
progress at the date of your death, in a Pro Rata Portion of the Performance Shares you would have actually earned for that Performance Year if you had continued to be employed through the date the Committee determines the earning of the Performance
Shares for that Performance Year under Section 4. In this case, your beneficiary shall be entitled to settlement of any of your earned and vested Performance Shares in the year following your year of death as promptly as practicable following
the determination of the number of Performance Shares earned under clause (ii) above. In the case of your death, any Performance Shares that have not been earned and vested and thereafter will not be deemed earned and vested under this
Section 8 will be canceled and forfeited. 
  

	9.	TAXES 

 At such time as the Company or any
subsidiary or affiliate is required to withhold taxes with respect to the Performance Shares, or at an earlier date as determined by the Company, you shall make remittance to the Company or to your employer of an amount sufficient to cover such
taxes or make such other arrangement regarding payments of such taxes as are satisfactory to the Committee. The Company and its Subsidiaries and affiliates shall, to the extent permitted by law, have the right to deduct such amount from any payment
of any kind otherwise due to you, including by means of mandatory withholding of shares deliverable in settlement of your Performance Shares, to satisfy the mandatory tax withholding requirements. 
  

	10.	FORFEITURE IN THE EVENT OF COMPETITION AND/OR SOLICITATION OR OTHER DETRIMENTAL ACTS 

 You acknowledge that your continued employment with the Company and its subsidiaries and affiliates and this grant of Performance Shares are sufficient
consideration for this Agreement, including, without limitation, the restrictions imposed upon you by Section 10. 
  

	 	a)	By accepting the Performance Shares granted hereby , you expressly agree and covenant that during the Restricted Period (as defined below), you shall not, without the prior consent
of the Company, directly or indirectly: 

  

	 	i)	own or have any financial interest in a Competitive Business (as defined below), except that nothing in this clause shall prevent you from owning one percent or less of the
outstanding securities of any entity whose securities are traded on a U.S. national securities exchange (including NASDAQ) or an equivalent foreign exchange; 

  

	 	ii)	 be actively connected with a Competitive Business by managing, operating, controlling, being an employee or consultant (or accepting an offer to be an employee or
consultant) or otherwise advising or assisting a Competitive Business in such a way that such connection might result in an increase in value or worth of any product, technology or service, that competes with any product, technology or service upon
which you worked or about which you became familiar as a result of your employment with the Company. You may, however, be actively connected with a Competitive Business after your employment with the Company terminates for any reason, so long

  

 E-10-5 

	 	 
as your connection to the business does not involve any product, technology or service, that competes with any product, technology or service upon which you
worked or about which you became familiar as a result of your employment with the Company and the Company is provided written assurances of this fact from the Competing Company prior to your beginning such connection; 

 

	 	iii)	take any action that might divert any opportunity from the Company or any of its affiliates, successors or assigns (the “Related Parties”) that is within the scope of the
present or future operations or business of any Related Parties; 

  

	 	iv)	employ, solicit for employment, advise or recommend to any other person that they employ or solicit for employment or form an association with any person who is employed by the
Company or who has been employed by the Company within one year of the date your employment with the Company ceased for any reason whatsoever; 

  

	 	v)	contact, call upon or solicit any customer of the Company, or attempt to divert or take away from the Company the business of any of its customers; 

  

	 	vi)	contact, call upon or solicit any prospective customer of the Company that you became aware of or were introduced to in the course of your duties for the Company, or otherwise
divert or take away from the Company the business of any prospective customer of the Company; or 

  

	 	vii)	engage in any activity that is harmful to the interests of the Company, including, without limitation, any conduct during the term of your employment that violates the
Company’s Standards of Business Conduct and Ethics, securities trading policy and other policies. 

  

	 	b)	Forfeiture. You agree and covenant that, if the Company determines that you have violated any provisions of Section 10(a) above during the Restricted Period, then:

  

	 	i)	any portion of the Performance Shares that have not been settled or paid to you as of the date of such determination shall be immediately canceled and forfeited;

  

	 	ii)	you shall automatically forfeit any rights you may have with respect to the Performance Shares as of the date of such determination; 

  

	 	iii)	if any Performance Shares have become vested within the twelve-month period immediately preceding a violation of Section 10(a) above (or following the date of any such
violation), upon the Company’s demand, you shall immediately deliver to it a certificate or certificates for Shares equal to the number of Shares delivered to you in settlement of such vested Performance Shares if such delivery was made in
Shares or you shall pay cash equal to the value cash paid to you in settlement of such vested Performance Shares if such payment was made in cash; and 

  

	 	iv)	the foregoing remedies set forth in Section 10(b) shall not be the Company’s exclusive remedies. The Company reserves all other rights and remedies available to it at law
or in equity. 

  

	 	c)	Definitions. For purposes of this Section 10, the following definitions shall apply: 

  

	 	i)	The Company directly advertises and solicits business from customers wherever they may be found and its business is thus worldwide in scope. Therefore, “Competitive
Business” means any person or entity that engages in any business activity that competes with the Company’s business in any way, in any geographic area in which the Company engages in business, including, without limitation, any state
in the United States in which the Company sells or offers to sell its products from time to time. 

  

 E-10-5 

	 	ii)	“Restricted Period” means the period during which you are employed by the Company or its subsidiaries and affiliates and twelve months following the date that you
no longer are employed by the Company or any of its subsidiaries or affiliates for any reason whatsoever. 

  

	 	d)	Severability. You acknowledge and agree that the period, scope and geographic areas of restriction imposed upon you by the provisions of Section 10 are fair and
reasonable and are reasonably required for the protection of the Company. In the event that any part of this Agreement, including, without limitation, Section 10, is held to be unenforceable or invalid, the remaining parts of this Agreement and
Section 10 shall nevertheless continue to be valid and enforceable as though the invalid portions were not a part of this Agreement. If any one of the provisions in Section 10 is held to be excessively broad as to period, scope and
geographic areas, any such provision shall be construed by limiting it to the extent necessary to be enforceable under applicable law. 

  

	 	e)	Additional Remedies. You acknowledge that breach by you of this Agreement would cause irreparable harm to the Company and that in the event of such breach, the Company shall
have, in addition to monetary damages and other remedies at law, the right to an injunction, specific performance and other equitable relief to prevent violations of your obligations hereunder. 

  

	11.	ADJUSTMENTS 

 The target number of Performance
Shares, the kind of securities deliverable in settlement of Performance Shares, and any performance measure based on per share results shall be appropriately adjusted in order to prevent dilution or enlargement of your rights with respect to the
Performance Shares upon the occurrence of an event referred to in Section 10 of the Plan. In furtherance of the foregoing, in the event of an equity restructuring, as defined in FAS 123R, which affects the Shares, you shall have a legal right
to an adjustment to your Performance Shares which shall preserve without enlarging the value of the Performance Shares, with the manner of such adjustment to be determined by the Committee in its discretion. However, no adjustments shall be made
hereunder for any ordinary cash dividends paid on Common Stock. Any Performance Shares or related rights which directly or indirectly result from an adjustment to a Performance Share hereunder shall be subject to the same risk of forfeiture and
other conditions as apply to the granted Performance Share and will be settled at the same time as the granted Performance Share. 
  

	12.	EFFECT ON OTHER BENEFITS 

 In no event shall the
value, at any time, of the Performance Shares or any other payment or right to payment under this Agreement be included as compensation or earnings for purposes of any other compensation, retirement, or benefit plan offered to employees of the
Company or its subsidiaries or affiliates unless otherwise specifically provided for in such plan. 
  

	13.	RIGHT TO CONTINUED EMPLOYMENT 

 Nothing in the Plan
or this Agreement shall confer on you any right to continue in the employ of the Company or any subsidiary or affiliate or any specific position or level of employment with the Company or any subsidiary or affiliate or affect in any way the right of
the Company or any subsidiary or affiliate to terminate your employment without prior notice at any time for any reason or no reason. 
  

 E-10-5 

	14.	ADMINISTRATION 

 The Committee shall have full
authority and discretion, subject only to the express terms of the Plan, to decide all matters relating to the administration and interpretation of the Plan and this Agreement, and all such Committee determinations shall be final, conclusive, and
binding upon the Company, any subsidiary or affiliate, you, and all interested parties. Any provision for distribution in settlement of your Performance Shares and other obligations hereunder shall be by means of bookkeeping entries on the books of
the Company and shall not create in you or any beneficiary any right to, or claim against any, specific assets of the Company, nor result in the creation of any trust or escrow account for you or any beneficiary. You and any of your beneficiaries
entitled to any settlement or other payment hereunder shall be a general creditor of the Company. 
  

	15.	AMENDMENT 

 This Agreement shall be subject to the
terms of the Plan, as amended from time to time, except that Performance Shares which are the subject of this Agreement may not be materially adversely affected by any amendment or termination of the Plan approved after the Award Date without your
written consent. 
  

	16.	SEVERABILITY AND VALIDITY 

 The various provisions
of this Agreement are severable and any determination of invalidity or unenforceability of any one provision shall have no effect on the remaining provisions. 
  

	17.	GOVERNING LAW 

 This Agreement shall be governed by
the substantive laws (but not the choice of law rules) of the State of New York. 
  

	18.	SUCCESSORS 

 This Agreement shall be binding upon
and inure to the benefit of the successors, assigns, and heirs of the respective parties. 
  

	19.	DATA PRIVACY 

 By entering into this agreement, you
(i) authorize the Company, and any agent of the Company administering the Plan or providing Plan recordkeeping services, to disclose to the Company or any of its subsidiaries such information and data as the Company or any such subsidiary shall
request in order to facilitate the grant of Performance Shares and the administration of the Plan; (ii) waive any data privacy rights you may have with respect to such information; and (iii) authorize the Company to store and transmit such
information in electronic form. 
  

 E-10-5 

	20.	ENTIRE AGREEMENT AND NO ORAL MODIFICATION OR WAIVER 

 This Agreement contains the entire understanding of the parties. This Agreement shall not be modified or amended except in writing duly signed by the parties except that the Company may adopt a modification or amendment to the Agreement
that is not materially adverse to you in writing signed only by the Company. Any waiver of any right or failure to perform under this Agreement shall be in writing signed by the party granting the waiver and shall not be deemed a waiver of any
subsequent failure to perform. 
 I have read this agreement in its entirety. My signature below indicates my agreement to all the terms,
restrictions and conditions set forth in the agreement. 
  

			
	For the Company
	
	Bristol-Myers Squibb Company
		
	By:	 	 

		
	Date:	 	March 7, 2007

			
		
	Participant	 	
		
	Sign Here:	 	  

		
	Date:	 	  

  

 E-10-5 

 Exhibit A 
 BRISTOL-MYERS SQUIBB COMPANY 
 2002 Stock Incentive Plan 
 2007 Performance Shares (07-09 Cycle) — Performance Goals 
 The number of 2007 Performance Shares earned by Participant shall be determined as of December 31, 2007 (the “Earning Date”), based on the Company’s 2007 Sales Performance as defined below and 2007
EPS Performance as defined below, determined based on the following grid 
  

										
	 	  	Threshold	  	Target	  	Maximum
	 2007 Sales Performance
	  	$	17,721	  	$	19,262	  	$	21,188
	 2007 EPS Performance
	  	$	1.15	  	$	1.25	  	$	1.38

 Participant shall earn 45% of the target number of 2007 Performance Shares for “Threshold Performance,”
100% of the target number of 2007 Performance Shares for “Target Performance,” and 220% of the target number of 2007 Performance shares for “Maximum Performance.” For this purpose, 2007 Sales Performance and 2007 EPS Performance
are equally weighted, so level of earning of 2007 Performance Shares shall be determined as a percentage for each performance measure and the two percentages averaged. To derive a percentage of 2007 Performance Shares earned for either performance
measure, the percentage earned between Threshold and Target or between Target and Maximum shall be based on straight-line interpolation. 
 Determinations of
the Committee regarding 2007 Sales Performance and 2007 EPS Performance, the resulting 2007 Performance Shares earned and related matters will be final and binding on Participant. 
 2007 Sales Performance shall mean Net Sales for 2007. 2007 EPS Performance shall mean fully diluted Earnings Per Share excluding specified items, for 2007, subject to adjustment in the event of an equity restructuring
as defined under FAS 123R and affecting the Shares; any such adjustment shall preserve without enlarging the Participant’s award opportunity hereunder. Except for adjustments in the event of an extraordinary dividend or dividend payable in
Shares, no dividends or dividend equivalents will accrue with respect to Performance Shares in respect of any record date that precedes settlement of the Performance Shares. 
  

 E-10-5Senior Executive Severance Plan

 Exhibit 10.6 
 Bristol-Myers Squibb Company 
 Senior Executive Severance Plan 
 and 
 Summary Plan Description 

 Senior Executive Severance Plan, as amended effective June 10, 2008 
  

 E-10-6 

			
	 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
	  	9
		
	 Section 5 – Miscellaneous
	  	9
		
	 Section 6 – Administrative Information About Your Plan
	  	12
		
	 Section 7 – Your Rights and Privileges Under ERISA
	  	14
		
	 Section 8 – Other Administrative Facts
	  	16

  

 E-10-6 

 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 will be excluded from coverage under the Plan if you are a party to an individual arrangement or a written employment agreement providing
severance payments other than pursuant to the Plan 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. For further information, see “Offset for Executives in Puerto Rico and U.S. Expatriates” and “Pay in Lieu of Notice Periods and Offsets for
Executives Employed Outside the U.S. and Puerto Rico Who Are Not U.S. Expatriates” on page 4. 
 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 (as defined below). 

  

	 	(b)	You voluntarily terminate your employment for Good Reason (as defined below). 

  

 E-10-6 

 To qualify for severance payments and benefits under the Plan upon voluntary termination for Good Reason, you must notify
the Company in writing of termination for Good Reason specifying the event constituting Good Reason within fifteen (15) calendar days of the event. Failure for any reason to give written notice of termination of employment for Good Reason shall
be deemed a waiver of the right to voluntarily terminate employment for such Good Reason. The Company shall have a period of thirty (30) days in which to cure the Good Reason. If the Good Reason is cured within this period, you will not be
entitled to severance payments and benefits hereunder. If the Company waives its right to cure or does not, within the thirty (30) day period, cure the Good Reason, you shall be entitled to severance payments and benefits and your actual
termination date shall be determined in the sole discretion of the Company but in no event later than thirty (30) calendar days from the date the Company waives its right to cure or the end of the period in which to cure the Good Reason,
whichever is earlier. 
 Ineligibility for Severance Payments and Benefits 
 Notwithstanding any provision of the Plan, 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) provided the transfer would not constitute Good Reason for a voluntary termination; 

  

	 	•	 	 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

  

	 	(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 

  

 E-10-6 

	 	 
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. 
 Good Reason 
 “Good Reason” shall mean the occurrence of any one or more of the following events: 
 (i) A material reduction in
your Base Pay (as defined on page 12). 
 (ii) A material reduction in your executive grade level (e.g., the Company changes your job level from an E10 to an
E9) resulting in a material diminution of your authority, duties, or responsibilities. 
 (iii) A change in the location of your job or office, 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 job or office.

 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 
 As Basic Severance, you shall receive severance
payments equal to four (4) times your Base Pay (as defined below, see page 12). 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 Base Pay (as defined below)
	E10 and above	  	100 times your Base Pay (as defined below)

  

 E-10-6 

 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 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. 
  

 E-10-6 

 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. 
 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 (unless otherwise required under Section 409A of the Internal
Revenue Code of 1986, as amended (the “Code”), see section entitled “Specified Employees”, page 10 of the Plan). 
 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: 
  

 E-10-6 

 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. 
 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 I 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. 
  

 E-10-6 

 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). 
 Company Perquisites 
 Effective December 31, 2007, the Company eliminated the executive perquisite
program. As such, no perquisites will be made available to you after your separation 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; 

  

	 	•	 	 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. 

  

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

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

  

 E-10-6 

 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 gives 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 retire at their Early
Retirement Date (as defined by the Retirement Income Plan). 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. 
  

 E-10-6 

 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 provides or may be construed to provide 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. 
 Unfunded Obligation 
 All severance payments and benefits under the Plan shall constitute unfunded obligations 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 

  

 E-10-6 

 
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 
 Exemption 
 It is intended that payments under the Plan shall be exempt from Code Section 409A to the extent payments (i) do not
exceed two times the lesser of (1) the employee’s total annual compensation based on the employee’s annual rate of pay for the prior taxable year (adjusted for any increases that was expected to continue indefinitely) or (2) the
limitation under Code Section 401(a)(17) for the year in which the employee has a separation from service within the meaning of Code Section 409A and Treas. Reg. Section 1.409A-1(h) ($230,000 in 2008 (2x = $460,000)) (such amount
being referred to as the “2x Limitation”), and (ii) are paid in full no later than December 31 of the second year following a separation from service. 
 Specified Employees 
 In general, Code Section 409A prohibits certain payments to “Specified Employees”
(defined as an officer of the Company who is one of the top 50 highest paid employees as determined by the Company) within six months following the Specified Employee’s Separation from Service. An exception to this general rule allows payments
to Specified Employees during the six-month period following Separation from Service up to, but not exceeding, the 2x Limitation . Thus, Specified Employees shall receive severance payments under the Plan up to the 2x Limitation without regard to a
six-month delay in accordance with the Specified Employee’s regular payroll intervals. Any amount that would have been paid during this six month period but for the 2x Limitation will be paid the first business day of the seventh month
following the Separation from Service, or, if earlier, the date of the Specified Employee’s death (the “Delayed Payment Date”). 
 Statement of Intent 
 To the fullest extent possible, amounts and other benefits payable under the Plan are intended to be exempt from the
definition of “nonqualified deferred compensation” under Code Section 409A in accordance with one or more exemptions available under the final Treasury regulations promulgated under Code Section 409A. To the extent that any such
amount or benefit is or becomes subject to Code Section 409A, this Plan is intended to comply with the applicable requirements of Code Section 409A with respect to such amounts or benefits so as to avoid the imposition of taxes and
penalties. This Plan shall be interpreted and administered to the extent possible in a manner consistent with the foregoing statement of intent. 
 If you
notify the Company (with specificity as to the reason therefore) that you believe that any provision of this Plan or of any payment to be made or benefit granted under this Plan would cause you to incur any additional tax, penalty or interest under
Code Section 409A and the Company concurs, or if 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 or to be exempt from Code Section 409A to the extent possible without thereby creating other liability. 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 

  

 E-10-6 

 
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. 
 Notwithstanding anything in this Plan or elsewhere to the contrary, if you are a Specified Employee on
the date of your Separation from Service from the Company or Participating Employer and the Company or Participating Employer determines that any amount or other benefit payable under the Plan due to your Separation from Service constitutes
nonqualified deferred compensation that will subject you to “additional tax” under Code Section 409A(a)(1)(B) (together with any interest or penalties imposed with respect to, or in connection with, such tax, a “409A Tax”)
with respect to the payment of such amount or the provision of such benefit if paid, then the payment or provision thereof shall be postponed to the Delayed Payment Date. You and the Company may agree to take other actions to avoid the imposition of
a 409A Tax at such time and in such manner as permitted under Code Section 409A. In the event that this paragraph requires a delay of any payment, such payment shall be accumulated and paid in a single lump sum on the Delayed Payment Date.

 In no event whatsoever 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. 
 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 in a single lump-sum within 90 days of your death. 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.

  

 E-10-6 

 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 inure to the benefit of you and your legal representatives, heirs and legatees. 
 Definition

 Base Pay means your weekly base pay rate in effect as of the effective date of your Separation from Service 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, 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 Base Pay or 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. 
  

	*	or your duly authorized representative 

  

 E-10-6 

 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. 
 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. 
  

	*	or your duly authorized representative 

  

 E-10-6 

 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.

  

 E-10-6 

 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. 
  

 E-10-6 

 Section 8 – Other Administrative Facts 
  

			
	 	  	 Senior Executive Severance Plan

	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

  

 E-10-6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00148-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00148-of-00352.parquet"}]]