Document:

Benefit Equalization Plan-Retirement Savings Plan

 Exhibit 10.32 
 MEAD JOHNSON & COMPANY 
 BENEFIT EQUALIZATION PLAN—RETIREMENT SAVINGS PLAN 
 (Effective as of February 9, 2009) 

 TABLE OF CONTENTS 
  

							
	 	  	 	  	 	  	Page
	 I.
	  	Definitions	  	1
		  	A.	  	“Account Balance”	  	1
		  	B.	  	“Administrative Agent”	  	1
		  	C.	  	“Annual Benefit Salary or Wages”	  	1
		  	D.	  	“Beneficiary”	  	1
		  	E.	  	“Benefits Committee”	  	1
		  	F.	  	“BEP—Retirement Plan”	  	2
		  	G.	  	“BEP-RIP Credits”	  	2
		  	H.	  	“Board of Directors”	  	2
		  	I.	  	“Claims Appeal Guidelines”	  	2
		  	J.	  	“Code”	  	2
		  	K.	  	“Company”	  	2
		  	L.	  	“Company Stock Fund”	  	2
		  	M.	  	“Compensation Committee”	  	2
		  	N.	  	“Deferral Credits”	  	2
		  	O.	  	“Effective Date”	  	2
		  	P.	  	“Employee”	  	2
		  	Q.	  	“Employer Credits”	  	2
		  	R.	  	“Employing Company Contributions”	  	3
		  	S.	  	“ERISA”	  	3
		  	T.	  	“Fixed Income Fund”	  	3
		  	U.	  	“Investment Adjustments”	  	3
		  	V.	  	“Participant”	  	3
		  	W.	  	“Participating Employer”	  	3
		  	X.	  	“Plan”	  	3
		  	Y.	  	“Plan Account”	  	3
		  	Z.	  	“Plan Year”	  	3
		  	AA.	  	“Prior BMS Plan”	  	3
		  	BB.	  	“Rule of 70 Treatment”	  	4
		  	CC.	  	“Savings Plan”	  	4
		  	DD.	  	“Savings Plan Account”	  	4
		  	EE.	  	“Separation From Service”	  	4
		  	FF.	  	“Specified Employee”	  	4
		  	GG.	  	“Transferred Credits”	  	4
		  	HH.	  	“Unforeseeable Emergency”	  	5
		  	II.	  	“Year of Service”	  	5
			
	 II.
	  	Purpose and History of the Plan	  	5
			
	 III.
	  	Eligibility and Participation in the Plan	  	6
		  	A.	  	Eligible Participants	  	6
		  	B.	  	Cessation of Participation	  	6

  

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	 IV.
	  	Calculation of Benefits	  	6
		  	A.	  	Credits to Plan Accounts	  	6
		  	B.	  	Code Section 415 Deferral Credits	  	8
		  	C.	  	Code Section 401(a)(17) Deferral Credits	  	8
		  	D.	  	Employer Credits	  	8
		  	E.	  	Suspension of Deferrals	  	9
		  	F.	  	Investment Adjustments to Plan Accounts	  	9
			
	 V.
	  	Vesting	  	11
			
	 VI.
	  	Time and Form of Payment of Account Balance	  	11
		  	A.	  	Plan Payments	  	11
		  	B.	  	De Minimis Lump Sum	  	13
		  	C.	  	Specified Employees	  	13
		  	D.	  	Payment of Account Balances in the Event of the Participant’s Death	  	13
		  	E.	  	Distribution for Unforeseeable Emergency	  	15
		  	F.	  	Other Permissible Payment Events	  	15
		  	G.	  	No Post-Separation Elections	  	16
			
	 VII.
	  	Administration of the Plan	  	16
		  	A.	  	Administration	  	16
		  	B.	  	Delegation	  	16
		  	C.	  	Limitation of Liability	  	16
		  	D.	  	Indemnification	  	17
		  	E.	  	Claims Procedure	  	17
		  	F.	  	Expense	  	18
			
	 VIII.
	  	General Provisions	  	18
		  	A.	  	Termination of the Plan	  	18
		  	B.	  	Plan Not a Contract of Employment	  	19
		  	C.	  	Amendment	  	19
		  	D.	  	Funding	  	19
		  	E.	  	Facility of Payment	  	21
		  	F.	  	Withholding Taxes	  	21
		  	G.	  	Compliance with Code Section 409A	  	21
		  	H.	  	Construction	  	23
		  	I.	  	Successors and Assigns	  	23
			
	 IX.
	  	Effective Date	  	24

  

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 MEAD JOHNSON & COMPANY 
 BENEFIT EQUALIZATION PLAN—RETIREMENT SAVINGS PLAN 
 (Effective as of
February 9, 2009) 
  

	I.	Definitions. 

 Unless the context or subject matter
otherwise requires, the definitions set forth in this Section I shall govern in this Plan (as herein defined). Notwithstanding anything herein to the contrary, to the extent capitalized terms in this Plan conflict with such terms in the Savings Plan
(as herein defined), the terms of the Savings Plan shall control. 
 A. “Account Balance” shall mean the sum of the Transferred
Credits, Deferral Credits and Employer Credits made to a Participant’s Plan Account in accordance Article IV and/or any BEP-Retirement Plan Credits made to such Plan Account, as adjusted to reflect Investment Adjustments, less all prior
withdrawals and/or distributions. 
 B. “Administrative Agent” shall mean the administrative agent of the Benefits Committee.

 C. “Annual Benefit Salary or Wages” shall have the meaning set forth for such term in the Savings Plan, any amendments thereto
or modifications thereof. 
 D. “Beneficiary” shall mean the person or persons entitled to receive payment of the unpaid portion of
a Participant’s Benefits in the event of the Participant’s death, determined in accordance with Section VI.D. 
 E. “Benefits
Committee” shall mean the committee appointed by the Board of Directors to administer this Plan. The Benefits Committee shall serve as Plan Administrator of the Plan. 

 F. “BEP—Retirement Plan” shall mean the Mead Johnson & Company Benefit
Equalization Plan—Retirement Plan, and as amended from time to time. 
 G. “BEP-RIP Credits” shall mean amounts credited to a
Participant’s Plan Account pursuant to the Participant’s distribution election, if any, under the BEP—Retirement Plan. 
 H.
“Board of Directors” shall mean the Board of Directors of the Company. 
 I. “Claims Appeal Guidelines” shall mean the
Claims Appeal Guidelines for the Mead Johnson & Company Retirement Savings Plan and the Mead Johnson & Company Benefit Equalization Plan—Retirement Savings Plan, attached hereto as Exhibit A, and as amended from time to time.

 J. “Code” shall mean the Internal Revenue Code of 1986, as amended. 
 K. “Company” shall mean Mead Johnson & Company and any successor or successors thereof. 
 L. “Company Stock Fund” shall have the meaning set forth for such term in the Savings Plan, and as amended from time to time. 
 M. “Compensation Committee” shall mean the Compensation Committee of the Board of Directors. 
 N. “Deferral Credits” means amounts credited to a Participant’s Plan Account pursuant to Sections IV.B. and IV.C. 
 O. “Effective Date” shall mean February 9, 2009, 
 P. “Employee” shall have the meaning set forth for such term in the Savings Plan, and as amended from time to time. 
 Q. “Employer Credits” shall mean amounts credited to a Participant’s Plan Account pursuant to Section IV.D. 
  

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 R. “Employing Company Contributions” shall have the meaning set forth for such term in the
Savings Plan, and as amended from time to time. 
 S. “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as
amended. 
 T. “Fixed Income Fund” shall have the meaning set forth for such term in the Savings Plan, and as amended from time to
time. 
 U. “Investment Adjustments” shall mean increases or reductions to a Participant’s Account Balance to reflect the
performance of the investment funds in which the Participant’s Plan Account is hypothetically deemed invested in accordance with Section IV.F. 
 V. “Participant” shall mean each participant in this Plan as determined in accordance with Article III. 
 W.
“Participating Employer” means any corporation participating in the Savings Plan. 
 X. “Plan” shall mean the Mead
Johnson & Company Benefit Equalization Plan— Retirement Savings Plan, as set forth herein, as amended from time to time. 
 Y.
“Plan Account” shall mean the unfunded notional bookkeeping account or accounts reflecting (1) amounts credited to this Plan on behalf of a Participant, (2) amounts credited to this Plan on behalf of such Participant from the
BEP—Retirement Plan and (3) Investment Adjustments. 
 Z. “Plan Year” shall mean the calendar year. 
 AA. “Prior BMS Plan” shall mean the Bristol-Myers Squibb Company Benefit Equalization Plan—Savings and Investment Program, as amended and
restated effective January 1, 2008, as in effect on the day immediately preceding the Effective Date, which is attached hereto as Exhibit B. 
  

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 BB. “Rule of 70 Treatment” shall occur upon a Participant’s eligibility for Rule of 70
benefits under the terms and conditions of the Mead Johnson & Company Retirement Income Plan, as amended from time to time. 
 CC.
“Savings Plan” shall mean the Mead Johnson & Company Retirement Savings Plan, as amended from time to time. 
 DD.
“Savings Plan Account” shall mean a Participant’s separate account, and each sub-account, under the Savings Plan. 
 EE.
“Separation From Service” shall mean a Participant’s voluntary or involuntary severance of employment with the Company, except by reason of temporary absence, death or transfer to an affiliate or subsidiary of the Company;
provided, however, that for purposes of the Plan, a Separation From Service shall not occur until the date that a Participant experiences a “separation from service” from the Company or other Participating Employer, as
applicable, within the meaning of Code Section 409A(a)(2)(A)(i) and Treas. Reg. Section 1.409A-1(h). 
 FF. “Specified
Employee” shall mean a “specified employee” within the meaning of Code Section 409A(a)(2)(B)(i) and U.S. Treasury regulation Section 1.409A-1(h), as determined annually under the Company’s administrative procedure for
such determinations for purposes of all plans subject to Code Section 409A. 
 GG. “Transferred Credits” shall mean amounts
credited to a Participant’s Plan Account, in accordance with Section IV.A., reflecting the Participant’s account balance, if any, under the Prior BMS Plan as of the close of business on the day immediately preceding the Effective Date,
which was assigned to and assumed by the Company under this Plan as of the Effective Date. 
  

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 HH. “Unforeseeable Emergency” shall mean a severe financial hardship to a participant resulting
from (1) an illness or accident of the Participant or the Participant’s spouse, Beneficiary or dependent (as defined in Section 152 of the Code, without regard to section 152(b)(1), (b)(2) and (d)(1)(b)), (ii) loss of the
Participant’s property due to casualty, or (iii) such other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant, all as determined in the sole discretion of the Benefits
Plan Committee. Any determination by the Benefits Committee as to whether a Participant is faced with an Unforeseeable Emergency shall be made in accordance with the requirements of Treasury Regulation Section 1.409A-3(i)(3). 
 II. “Year of Service” shall have the meaning set forth for such term in the Savings Plan, and as amended from time to time. 
  

	II.	Purpose and History of the Plan. 

 The purpose of
this Plan is to provide benefits for certain Employees participating in the Savings Plan whose funded benefits are or will be limited by application of ERISA and the Code. The Plan is intended to be an unfunded “excess benefit plan” as
that term is defined in Section 3(36) of ERISA with respect to those Participants whose benefits under the Savings Plan have been limited by Section 415 of the Code, and a “top hat” plan meeting the requirements of Sections
201(2), 301(a)(3), 401(a)(1) and 4021(b)(6) of ERISA with respect to those Participants whose benefits under the Savings Plan have been limited by Section 401(a)(17) of the Code. 
 The obligation to pay liabilities and obligations of the Prior BMS Plan with respect to Employees who were active participants in the Prior BMS Plan as
of the day immediately preceding the Effective Date were assigned to and assumed by the Company under this Plan as of the Effective Date, and all amounts credited under the Prior BMS Plan with respect to such Employees continue to be credited under
this Plan. 
  

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	III.	Eligibility and Participation in the Plan. 

 A.
Eligible Participants. Each Employee who was an active participant in the Prior BMS Plan as of the day immediately preceding the Effective Date shall be a Participant in the Plan as of the Effective Date. Each other Employee who is a
participant in the Savings Plan and who is employed by a Participating Employer shall be eligible to participate in this Plan and shall become a Participant in this Plan when (1) the allocation to his Savings Plan Account would exceed the
limitations on benefits and contributions imposed by Section 415 of the Code, or (2) amounts of his compensation would be excluded from his Annual Benefit Salary or Wages determined under the Savings Plan by reason of the application of
Section 401(a)(17) of the Code. 
 B. Cessation of Participation. Participation in the Plan shall terminate upon the
Participant’s Separation From Service with the Company or other Participating Employer, as applicable, except, however, that an individual who has a vested Account Balance under the Plan after his or her Separation From Service will continue to
be treated as a Participant (other than for purposes of receiving Deferral Credits and Employer Credits under Article IV) until his or her entire Account Balance has been distributed or forfeited. 
  

	IV.	Calculation of Benefits. 

 A. Credits to Plan
Accounts. The Company shall establish and maintain a Plan Account in the name of each Participant. As of the Effective Date, the Plan Account of each Participant who was an active participant in the Prior BMS Plan on the day immediately 

  

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preceding the Effective Date shall be credited with an amount of Transferred Credits equal to the Participant’s final account balance under the Prior
BMS Plan. Thereafter, Deferral Credits and Employer Credits shall be made to the Plan Account of each Participant as provided in this Article IV only for those Plan Years in which (1) he has elected to have a percentage of his Annual Benefit
Salary or Wages contributed on his behalf to the Savings Plan and (2) he also has in effect an irrevocable election, made prior to the Plan Year with respect to which such deferral relates, to defer a like percentage of his Annual Benefit
Salary or Wages under this Plan (or under the Prior BMS Plan, with respect to deferrals of 2009 Annual Benefit Salary or Wages), to be credited to his Plan Account in the manner described in Sections IV.B. and IV.C. Notwithstanding the forgoing,
(1) a Participant’s deferral election under this Plan (or the Prior BMS Plan) for a Plan Year may not be modified or terminated after the start of such Plan Year to reflect changes, if any, that the Participant makes to his contribution
elections under the Savings Plan and (2) a Participant’s Plan Account may not be credited with Deferral Credits under both Section IV.B. and Section IV.C. for the same pay period. To the extent that, for any pay period, a Participant meets
the requirements for Deferral Credits under both Section IV.B. and IV.C., Deferral Credits for such pay period shall be provided under Section IV.B. only. Deferral Credits and Employer Credits to Participant’s Plan Accounts shall be made on a
payroll period basis, (at the same time Savings Plan contributions are allocated to the Participant’s Savings Plan Account), based on the proportionate amount of such Participant’s Annual Benefit Salary or Wages attributable to each such
payroll period. The Participant’s Annual Benefit or Salary Wages shall be reduced by the amount of Deferral Credits for any pay period a Participant meets the requirements for Deferral Credits under Section IV.B. and/or IV.C. 
  

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 B. Code Section 415 Deferral Credits. The Plan Account of each Participant who (1) meets
the requirements of Section IV.A. for a Plan Year and (2) is precluded from making additional pre-tax or after-tax elective deferrals, or from receiving additional employer contributions, to his Savings Plan Account due to the limitations of
Section 415 of the Code for such Plan Year, shall be credited with an amount equal to the percentage of his Annual Benefit Salary or Wages that he elected to defer under the Plan (or Prior BMS Plan) for such Plan Year for the period commencing
as of the first payroll period that the Participant is precluded from making or receiving any additional contributions to his Savings Plan Account due to the application of Code Section 415, through the last payroll period of the Plan Year.

 C. Code Section 401(a)(17) Deferral Credits. The Plan Account of each Participant who (1) meets the requirements of
Section IV.A. for a Plan Year and (2) is precluded from making additional pre-tax or after-tax elective deferrals to his Savings Plan Account because such Participant’s Annual Benefit Salary or Wages exceed the limitations of
Section 401(a)(17) of the Code, shall be credited with an amount equal to the percentage of his Annual Benefit Salary or Wages that he elected to defer under the Plan (or Prior BMS Plan) for such Plan Year for the period commencing as of the
first payroll period that the Participant is precluded from making any additional contributions to his Savings Plan Account due to the application of Code Section 401(a)(17), through the last payroll period of the Plan Year or, if sooner,
through the first payroll period for which amounts begin to be credited to the Participant’s Plan Account pursuant to Section IV.B. for such Plan Year. 
 D. Employer Credits. The Plan Account of each Participant who receives Deferral Credits under Section IV.B. or IV.C. shall also be credited with an amount equal to the amount of Employing Company Contributions,
if any, that would have been contributed to the Savings Plan on such Participant’s behalf for such Plan Year (without regard to the limitations imposed under Section 415 or 

  

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401(a)(17) of the Code, which would limit the amount of such Employing Company Contributions that may be contributed to the Savings Plan on the
Participant’s behalf for such Plan Year) if an amount equal to the Deferral Credits determined under Section IV.B. and/or Section IV.C., as the case may be, had been contributed to the Savings Plan. 
 E. Suspension of Deferrals. A Participant may petition the Benefits Committee or its designee to cancel his deferrals under this Plan during any
period of time that the Participant establishes to the satisfaction of the Benefits Committee that he is facing an Unforeseeable Emergency. If the petition for suspension is approved, such cancellation shall take effect as of the first payroll
period following the date of approval. Notwithstanding the foregoing, a Participant’s deferrals under the Plan shall be automatically cancelled during a Plan Year if the Participant applies for and receives a hardship withdrawal under the
Savings Plan in accordance with Treas. Reg. Section 1.401(k)-1(d)(3), but only to the extent that the Participant’s elective deferrals under the Savings Plan are suspended on account of such hardship withdrawal. If deferrals by a
Participant have been cancelled during a Plan Year due to an Unforeseeable Emergency or on account of his receiving a hardship withdrawal under the Savings Plan, the Participant will not be eligible to make any further deferrals in respect of that
Plan Year. The Participant may be eligible to elect to make deferrals for subsequent Plan Years provided that such elections are made prior to the Plan Year with respect to which such deferral relates. 
 F. Investment Adjustments to Plan Accounts. While a Participant’s Plan Account does not represent the Participant’s ownership of, or
ownership interest in, any particular assets, the amounts credited to the Participant’s Plan Account shall be adjusted as of the close of each business day, or at such other times as may be determined by the Benefits Committee, to reflect the
performance of the 

  

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investment funds in which such credited amounts are hypothetically deemed invested in accordance with this Section IV.F. The investment funds in which a
Participant’s Plan Account credits are hypothetically deemed invested shall be determined as follows: 
 1. On any
business day the Participant may, pursuant to telephonic notification with the Administrative Agent, (a) elect to have Plan Account credits deemed to be invested, in 1% increments, among such funds established under the Savings Plan, other than
the Company Stock Fund, effective as of the first day of the next payroll period (or as soon as practicable thereafter) and (b) elect that the credits to his Plan Account under this Article IV representing any type of investment under the Plan
be deemed to be reduced to cash (in 1% increments) and that such deemed cash be invested in such other funds which the Participant shall designate in such election, effective as of the next business day (or as soon as practicable thereafter).

 2. Any investment election given by a Participant under this Plan or the Prior BMS Plan shall continue in effect until
changed by the Participant. To the extent a Participant makes no election, all such credits shall be deemed to have been invested in the default investment fund established under the Savings Plan. 
 3. For purposes of this Plan, “telephonic notification” shall include any form of communication acceptable to the
Administrative Agent, including, telephone, telegraph, satellite or other wireless communication. A “business day” shall mean any day the New York Stock Exchange is open for business. 
  

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	V.	Vesting. 

 A Participant shall at all times be 100%
vested in his Transferred Credits, Deferral Credits and BEP-RIP Credits (and any Investment Adjustments attributable thereto). A Participant shall become vested in Employer Credits (and any Investment Adjustments attributable thereto) at the same
time that the corresponding Employing Company Contributions allocated to the Participant’s Savings Plan Account become vested under the Savings Plan (or upon becoming a Participant in this Plan, if the Participant’s Employing Company
Contribution are already vested under the Savings Plan at such time). 
  

	VI.	Time and Form of Payment of Account Balance. 

 A.
Plan Payments. A Participant’s vested Account Balance shall be payable to the Participant (or his Beneficiary) in the default form of payment set forth in Section VI.A.1. herein, unless a timely election for an alternative form of
payment is made in accordance with Section VI.A.2. herein. 
 1. Default Form of Payment. A Participant who, as of the
date his Separation From Service occurs, either (A) is not eligible to retire under the Savings Plan, (B) does not satisfy the eligibility requirements of Rule of 70 Treatment or (C) is eligible to retire under the Savings Plan or
satisfies the eligibility requirements for Rule of 70 Treatment but does not make a timely election pursuant to Section VI.A.2. herein shall receive his accrued and vested Account Balance, subject to Section VI.C. herein, in a cash lump sum payment
within 60 days following such Participant’s Separation From Service. 
 2. Alternative Form of Payment. A
Participant who, as of the date his Separation From Service occurs, is either eligible to retire under the Savings Plan or satisfies the eligibility requirements for Rule of 70 Treatment shall be permitted to elect to 

  

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receive his vested Account Balance at a deferred date (as set forth below), provided that such election is made under this Plan or the Prior BMS Plan
no later than 12 months prior to the date of such Participant’s Separation From Service. A Participant who elects to receive his Account Balance in accordance with this Section VI.A.2. must also elect (a) when payments will commence, and
(b) whether the payment will be made in a lump sum or in annual installments of two to 15 years. Any such elections under this Section VI.A.2. must comply with the subsequent deferral election requirements set out in Section VI.A.4. below. A
Participant electing the alternative form of payment under this Section VI.A.2. may not make any subsequent elections, except for a subsequent election made in accordance with the requirements set out in Section VI.A.4. 
 3. Prior Elections. In the case of a Participant who, at the time of his Separation From Service, is eligible to retire under the
Savings Plan or satisfied the eligibility requirements for Rule of 70 Treatment and who, prior to January 1, 2007, made a timely election under the Prior BMS Plan regarding the form of payment of his vested Account Balance (i.e., such
election was made at least twelve months prior to Separation From Service), such election shall continue to apply to such Participant’s accrued and vested Account Balance under this Plan and may not be changed. 
 4. Subsequent Deferral Elections. Any election under Section VI.A.2 to change from the default form of payment to an alternate form
of payment must satisfy each of the following requirements: 
 a. Such election must be made no later than 12 months prior to the date such
Participant’s Separation From Service occurs; 
  

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 b. Such election will not be valid and effective until 12 months after it is received by the Plan
Administrator; and 
 c. Such election must provide for a payment commencement date that is at least five years later than the date the
distribution otherwise would have been made under the default payment terms or prior payment election. 
 B. De Minimis Lump Sum.
Notwithstanding any provision of the Plan or payment election of a Participant to the contrary, if the value of the vested Account Balance of a Participant is less than $10,000 as of the date of his Separation From Service, such vested Account
Balance shall be paid to or in respect of the Participant in a single lump sum on the first day of the month following such Participant’s Separation From Service. 
 C. Specified Employees. Notwithstanding any provision of the Plan or payment election of a Participant to the contrary, if a Participant is a Specified Employee at his Separation From Service, payment of the
portion of his Account Balance that was credited or vested under this Plan or the Prior BMS Plan on or after January 1, 2005 shall occur no earlier than the date that is six-months after the Participant’s Separation From Service (unless
such Participant dies, in which event the vested Account Balance shall be payable in accordance with Section VI.D. hereof). Any portion of the vested Account Balance that would otherwise be paid to a Specified Employee prior to the end of such
six-month period shall be paid on the last day of the payroll period that begins coincident with or next following the six-month anniversary of the Participant’s Separation From Service. 
 D. Payment of Account Balances in the Event of the Participant’s Death. A Participant may designate a Beneficiary to receive payment of all
or part of the value of his vested Account Balance in the event of his death, if such Beneficiary shall be living at the 

  

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time of his death; provided, however, that if the Participant has elected to have his benefit under the Savings Plan paid in the form of a
“qualified joint and survivor annuity,” then the Participant’s Beneficiary shall be his spouse. A Participant may, subject to the preceding sentence, change or revoke a designation of Beneficiary and such designation, change or
revocation shall be on a form to be provided for this purpose and shall be signed by the Participant shall be valid only if delivered to his Participating Employer prior to his death. In the event of the death of the Participant prior to the
Participant’s attainment of age 55 with 10 or more Years of Service with the Participating Employer or satisfaction of the eligibility requirements for Rule of 70 Treatment, the value of his vested Account Balance with respect to which a
designation of Beneficiary has been made (to the extent it is valid and enforceable under applicable law) shall be distributed to the surviving designated Beneficiary in a cash lump sum payment within 90 days after the Participant’s death.
In the event of the death of the Participant after the Participant has attained age 55 with 10 or more Years of Service with the Participating Employer or has satisfied the eligibility requirements for Rule of 70 Treatment, the value of his
vested Account Balance with respect to which a designation of Beneficiary has been made (to the extent it is valid and enforceable under applicable law) shall be distributed to the surviving designated Beneficiary at the same time and in the same
form of payment that would have been made to the Participant had he survived. In the event of the Beneficiary’s death after payments have commenced to the Beneficiary, but prior to the complete distribution of the Participant’s
vested Account Balance, the remaining value of the Participant’s Account Balance shall be distributed to the Beneficiary’s estate in a cash lump sum payment within 90 days following his death. If the Participant has not designated a
Beneficiary, or if no Beneficiary shall be living at the time of the Participant’s death, 
 the value of the Participant’s vested Account Balance
shall be distributed in a cash lump sum payment within 90 days following his death to the person or persons in the first of the following classes of successive preference: 
  

	 	1.	The Participant’s surviving spouse. 

  

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	 	2.	Equally among the Participant’s surviving children. 

  

	 	3.	Equally among the Participant’s surviving parent. 

  

	 	4.	Equally among the Participant’s surviving brothers and sisters. 

  

	 	5.	The Participant’s executors or administrators. 

 Payment to one or more of such persons shall completely discharge the Plan with respect to the amount so paid. Notwithstanding the above, if the Participant has designated a Beneficiary under the Savings Plan, such designation shall be
deemed a designation for purposes of this Plan unless a separate beneficiary designation is made under this Plan in accordance with the foregoing. 
 E. Distribution for Unforeseeable Emergency. If a Participant shall establish to the satisfaction of the Benefits Committee or its designee in accordance with principles and procedures established by the Benefits Committee which are
applicable to all persons similarly situated that a withdrawal to be made by him pursuant to this Section VI.E. is to be made by reason of an Unforeseeable Emergency, the Participating Employer shall distribute to the Participant the amount
reasonably necessary to meet such Unforeseeable Emergency but not more than the value of his vested Account Balance. 
 F. Other
Permissible Payment Events. All or a portion of the value of the vested Account Benefits may be paid if and to the extent reasonably necessary to permit the Participant to avoid the violation of an applicable Federal, state, local or foreign
ethics law or conflicts of interest law within the meaning of final Treas. Reg. Section. 1.409A-3(j)(4)(iii)(B). 
  

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 G. No Post-Separation Elections. Notwithstanding anything herein to the contrary, a Participant
may not make any election(s) regarding the time and form of the payment of the value of his vested Account Balance subsequent to the occurrence of his Separation From Service. 
  

	VII.	Administration of the Plan. 

 A.
Administration. The Benefits Committee shall administer this Plan. As Plan Administrator, the Benefits Committee shall have full discretionary authority to determine all questions arising in connection with the Plan, including its
interpretation, application and administration, may adopt procedural rules, and may employ and rely on such legal counsel, such actuaries, such accountants and such agents as it may deem advisable to assist in the administration of the Plan. Any and
all decisions of the Benefits Committee as to interpretation or application of this Plan shall be conclusive and binding on all person, shall be given full force and effect, and shall be reviewed by any court or arbitrator on an arbitrary and
capricious standard, rather than a de novo standard. 
 B. Delegation. The Benefits Committee may (1) designate a person
or persons and/or appoint an administrative committee to carry out the day-to-day administration of the Plan, and (2) authorize any agent to execute or deliver any instrument or make any payment on the Benefits Committee’s behalf or
provide such services as the Benefits Committee may require in carrying out the provisions of the Plan. 
 C. Limitation of Liability.
Neither the Benefits Committee nor any member of the Board of Directors nor any officer, employee or agent of the Company shall incur any liability individually or on behalf of any other individuals or on behalf of the Company for 

  

 16 

 
any act, or failure to act, in relation to the Plan or the funds of the Plan unless such action or inaction is adjudged to be due to fraud. The Benefits
Committee and each member of the Board of Directors shall be entitled, in good faith, to rely or act upon any report or other information furnished to him by any other officer or other employee of the Company, the Company’s independent
certified public accountants, or any executive compensation consultant, legal counsel or other professional retained by the Company. None of the Benefits Committee, the Compensation Committee or any member of the Board of Directors shall be entitled
to act on or decide any matter relating solely to himself or any of his rights or benefits under the Plan. 
 D. Indemnification. The
Benefits Committee, each member of the Board of Directors and their delegates, and the officers, employees and agents of the Company shall be indemnified by the Company against any and all liabilities arising by reason of any act, or failure to act,
in relation to the Plan or the funds of the Plan, including, without limitation, expenses incurred in the defense of any claim relating to the Plan or the funds of the Plan, and amounts paid in any compromise or settlement relating to the Plan or
the funds of the Plan, unless such action or inaction is adjudged to be due to fraud. 
 E. Claims Procedure. All claims for benefits
under the Plan shall be submitted and reviewed in accordance with the Claims Appeal Guidelines. No claimant shall institute any action or proceeding in any state or federal court of law or equity or before any administrative tribunal or arbitrator
for a claim of benefits under the Plan until the claimant has first exhausted the Plan’s review procedures set forth in the Claims Appeal Guidelines. Any and all decisions of the Company pursuant to the Claims Appeal Guidelines shall be
conclusive and binding on all persons, shall be given full force and effect, and shall be reviewed by any court or arbitrator on an arbitrary and capricious standard, rather than a de novo standard. 
  

 17 

 F. Expense. Expenses of the Benefits Committee attributable to the administration of the Plan
shall be paid directly by the Company. 
  

	VIII.	General Provisions. 

 A. Termination of the
Plan. The Board of Directors reserves the right to terminate the Plan at any time, and the Company or any other Participating Employer may terminate this Plan with respect to its Employees who participate in the Savings Plan; provided,
however, that no such termination shall be effective retroactively. As of the effective date of termination of the Plan: 
 1. The rights of a Participant to his Plan Account established under this Plan shall become non-forfeitable. 
 2.
The Account Balance of any Participant (or his Beneficiary) whose Account Balance payments have commenced shall continue to be paid; 
 3. No further amounts may be credited to the Plan Accounts of Participant whose Account Balance payments have not commenced and such Participant (or his Beneficiary) shall retain the right to an Account Balance hereunder; and 
 4. Account Balance payments that have not commenced as of the Plan termination date may be accelerated provided that (a) the
Company’s termination and liquidation of the Plan does not occur proximate to a downturn in the financial health of the Company, (b) no payment of Account Balances are made earlier than 12 months after all action necessary to irrevocably
terminate and liquidate the Plan has been completed other than payments that would be payable under the terms of the Plan if the action to terminate and liquidate the Plan had not occurred, (c) all payment of Account Balances are completed
within 24 months thereafter, (d) all other nonqualified account balance plans maintained by the Company are terminated with respect to all 

  

 18 

 
participants in such plans and such plans would be aggregated under final Treas. Reg. Section 1.409A-1(c), (e) the Company does not adopt a new
plan that would be aggregated with any terminated plan under final Treas. Reg. Section 1.409A-1(c) if the Participant participated in both plans, at any time within three years following the date the Company takes all necessary action to
irrevocably terminate and liquidate the Plan, and (f) the conditions of final Treas. Reg. Section 1.409A-3(j)(ix)(C) are satisfied. 
 B. Plan Not a Contract of Employment. Nothing in this Plan shall be construed as giving any Employee the right to be retained in the employ of any Participating Employer. Each Participating Employer in the Plan expressly reserves the
right to dismiss any Employee at any time without regard to the effect which such dismissal might have upon him under the Plan. 
 C.
Amendment. This Plan may be amended at any time by the Compensation Committee or by the Benefits Committee at any time in accordance with the materiality guidelines regarding modifications to employee benefit plans established by the
Compensation Committee, except that no such amendment shall deprive any Participant of the amount then credited to his Plan Account and vested at the time of such amendment. 
 D. Funding. All amounts payable in accordance with this Plan shall constitute a general unsecured obligation of the Company and the other
Participating Employers. Benefits payable under this Plan, as well as any administrative costs related to the Plan, shall not be funded and shall be made out of the general assets of the Company and the other Participating Employers or any grantor
trust established for this purpose. 
  

 19 

 The Company may, in its discretion, establish a grantor trust for the benefit of the Participants of the
Plan. The assets placed in such trust shall be held separate and apart from other Company funds and shall be used exclusively for the purposes set forth in the Plan and the applicable trust agreement, subject to the following conditions: 

1. the creation of said trust shall not cause the Plan to be other than “unfunded” for purposes of Title I of ERISA;

 2. the Company shall be treated as “grantor” of said trust for purposes of Section 677 of the Code;

 3. the agreement of such trust shall provide that its assets may be used upon the insolvency or bankruptcy of the Company
to satisfy claims of the Company’s general creditors and that the rights of such general creditors are enforceable by them under federal and state law; 
 4. the trust shall not be established as an offshore trust; and 
 5. the trust shall not provide that its assets will become restricted to the payment of the Account Balances in the event of a change in
the financial health of the Company. 
 To the extent that a grantor trust is established by the Company, the Benefits
Committee may from time to time reserve unto itself the right to vote any shares of equity securities held in a trust fund or may permit such other committee, or investment manager or managers as it may designate to exercise such responsibility.

 No Participant or Beneficiary shall have any right, title or interest whatsoever in or to any investments that the Company may make to aid
the Company in meeting its obligation hereunder or assets held by any trust. Nothing contained in this Plan, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind, or a fiduciary relationship,
between the Company and any Participant or Beneficiary. To the extent that any person acquires a right to receive payments from the Company hereunder, such rights are no greater than the right of an unsecured general creditor of the Company.

  

 20 

 E. Facility of Payment. In the event that the Company shall find that a Participant or Beneficiary
is unable to care for his affairs because of illness or accident, or because such individual is a minor or has died, the Company may, unless a claim shall have been made therefore by a duly appointed legal representative, direct that any benefit
payment due to him pursuant to this Plan, to the extent not payable from a grantor trust, be paid on his behalf to his spouse, a child, a parent or other blood relative, or to a person with whom he resides, and any such payment so made shall be a
complete discharge of the liabilities of the Company and the Plan therefor. 
 F. Withholding Taxes. The Company shall deduct from any
payment made under the Plan the amount of withholding taxes due any federal, state or local authority in respect of such payment and take such other action as may be necessary in the opinion of the Company to satisfy all obligations for payment of
such withholding. 
 G. Compliance with Code Section 409A. 
 1. It is intended that the terms of the Plan and Participant and Beneficiary rights hereunder meet applicable requirements of Code
Section 409A and the final Treasury Regulations promulgated thereunder so that a Participant or Beneficiary is not deemed to be in constructive receipt of compensation until such time as benefits are actually paid. The Plan shall be interpreted
and administered to the extent possible in a manner consistent with the foregoing statement of intent. 
  

 21 

 2. In each case where the Plan provides for the payment of amounts within a designated
period of time after Separation From Service (e.g., within 60 days after Separation From Service) and such period begins and ends in different calendar years, the exact payment date within such range shall be determined by the Plan
Administrator, in its sole discretion, and the Participant shall have no right to designate the year in which the payment shall be made. 
 3. If the Participant (or his Beneficiary) notifies the Benefits Committee (with specificity as to the reason therefore) that the Participant (or his Beneficiary) believes that any provision of this Plan (or of any
award of compensation) would cause the Participant (or his Beneficiary) to incur income tax prior to the receipt of payment or any additional tax or interest under Code Section 409A and, upon notice, the Benefits Committee or its designee
concurs with such belief, or if the Benefits Committee or its designee (without any obligation whatsoever to do so) independently makes such determination, the Benefits Committee or its designee shall, after consulting with the Participant (or the
Beneficiary), reform such provision to the extent possible to attempt to comply with Code Section 409A or to be exempt from Code Section 409A. 
 4. In no event whatsoever shall the Company be liable for any additional tax interest or penalties that may be imposed on the Participant (or his Beneficiary) as a result of Code Section 409A or any damages for
failing to comply with Code Section 409A. 
  

 22 

 H. Construction. 
 1. This Plan shall be construed, regulated, administered and enforced under the laws of the State of New York, without regard to its
conflict of laws provisions, to the extent such laws are not superseded by applicable federal law. 
 2. Whenever appropriate,
words used herein in the singular may be read in the plural, or words used herein in the plural may be read in the singular; the masculine may include the feminine. 
 3. The illegality of any particular provision of this document shall not affect the other provisions and the document shall be construed
in all respects as if such invalid provision were omitted. 
 4. Headings and subheadings in the Plan are for reference only,
and if there is any conflict between such headings or subheadings and the text of the Plan, the text shall control. 
 I. Successors and
Assigns. The Plan shall be binding on the Company’s successors and assigns. No right, title or interest of any kind in the Plan shall be transferable or assignable by a Participant (or his Beneficiary) or be subject to alienation,
anticipation, sale, pledge, encumbrance, garnishment, attachment, levy, execution or other legal or equitable process, nor be subject to debts, contracts, liabilities or engagements, or torts of any Participant (or his Beneficiary). Any attempt to
alienate, sell, transfer, assign, pledge, garnish, attach or take any other action subject to legal or equitable process or encumber or dispose of any interest in the Plan shall be void. 
  

 23 

	IX.	Effective Date. 

 This Plan shall be effective as of
February 9, 2009, except as otherwise specified herein. 
  

 24 

 EXHIBIT A 
 CLAIMS APPEALS GUIDELINES 
  

 25 

 EXHIBIT B 
 BRISTOL-MYERS SQUIB COMPANY 
 BENEFIT EQUALIZATION PLAN-SAVINGS AND INVESTMENT PROGRAM

 (As in effect on February 8, 2009) 
  

 26 

 BRISTOL-MYERS SQUIBB COMPANY 
 BENEFIT EQUALIZATION PLAN—SAVINGS AND INVESTMENT PROGRAM 
 (as amended and restated effective as of
January 1, 2007) 

 TABLE OF CONTENTS 
  

							
	 	  	 	  	 	  	Page
	 I.
	  	Definitions	  	1
		  	A.	  	“Account Balance”	  	1
		  	B.	  	“Administrative Agent”	  	1
		  	C.	  	“Annual Benefit Salary or Wages”	  	1
		  	D.	  	“Beneficiary”	  	1
		  	E.	  	“BEP—Retirement Plan”	  	1
		  	F.	  	“BEP-RIP Credits”	  	2
		  	G.	  	“Claims Appeal Guidelines”	  	2
		  	H.	  	“Code”	  	2
		  	I.	  	“Company”	  	2
		  	J.	  	“Company Stock Fund”	  	2
		  	K.	  	“Compensation Committee”	  	2
		  	L.	  	“Deferral Credits”	  	2
		  	M.	  	“Employee”	  	2
		  	N.	  	“Employer Credits”	  	2
		  	O.	  	“Employing Company Contributions”	  	2
		  	P.	  	“ERISA”	  	2
		  	Q.	  	“Fixed Income Fund”	  	2
		  	R.	  	“Installment Method”	  	3
		  	S.	  	“Investment Adjustments”	  	3
		  	T.	  	“1991 Plan”	  	3
		  	U.	  	“1996 Plan”	  	3
		  	V.	  	“Participant”	  	3
		  	W.	  	“Participating Employer”	  	3
		  	X.	  	“Plan”	  	3
		  	Y.	  	“Plan Account”	  	3
		  	Z.	  	“Plan Year”	  	3
		  	AA.	  	“Rule of 70 Treatment”	  	3
		  	BB.	  	“Savings Plan Committee”	  	5
		  	CC.	  	“Separation From Service”	  	5
		  	DD.	  	“Specified Employee”	  	5
		  	EE.	  	“SIP”	  	5
		  	FF.	  	“SIP Account”	  	5
		  	GG.	  	“Unforeseeable Emergency”	  	5
		  	HH.	  	“Year of Service”	  	5
			
	 II.
	  	Purpose and History of the Plan	  	5
			
	 III.
	  	Eligibility and Participation in the Plan	  	6
		  	A.	  	Eligible Participants	  	6
		  	B.	  	Cessation of Participation	  	6

  

 i 

							
	IV.	  	Calculation of Benefits	  	6
		  	A.	  	Credits to Plan Accounts	  	6
		  	B.	  	Code Section 415 Deferral Credits	  	8
		  	C.	  	Code Section 401(a)(17) Deferral Credits	  	8
		  	D.	  	Employer Credits	  	8
		  	E.	  	Suspension of Deferrals	  	9
		  	F.	  	Investment Adjustments to Plan Accounts	  	9
			
	V.	  	Vesting	  	11
			
	VI.	  	Time and Form of Payment of Account Balance	  	11
		  	A.	  	Pre-April 1, 1995	  	11
		  	B.	  	April 1, 1995 to December 31, 2004	  	11
		  	C.	  	January 1, 2005 to December 31, 2006	  	11
		  	D.	  	Post-December 31, 2006	  	11
		  	E.	  	De Minimis Lump Sum	  	13
		  	F.	  	Specified Employees	  	13
		  	G.	  	Payment of Account Balances in the Event of the Participant’s Death	  	13
		  	H.	  	Distribution for Unforeseeable Emergency	  	15
		  	I.	  	Other Permissible Payment Events	  	15
		  	J.	  	No Post-Separation Elections	  	16
			
	VII.	  	Administration of the Plan	  	
		  	A.	  	Administration	  	16
		  	B.	  	Delegation	  	16
		  	C.	  	Limitation of Liability	  	16
		  	D.	  	Indemnification	  	17
		  	E.	  	Claims Procedure	  	17
		  	F.	  	Expense	  	18
			
	VIII.	  	General Provisions	  	18
		  	A.	  	Termination of the Plan	  	18
		  	B.	  	Plan Not a Contract of Employment	  	19
		  	C.	  	Amendment	  	19
		  	D.	  	Funding	  	19
		  	E.	  	Facility of Payment	  	21
		  	F.	  	Withholding Taxes	  	21
		  	G.	  	Compliance with Code Section 409A	  	21
		  	H.	  	Construction	  	23
		  	I.	  	Successors and Assigns	  	23
			
	IX.	  	Effective Date	  	24

  

 ii 

 BRISTOL-MYERS SQUIBB COMPANY 
 BENEFIT EQUALIZATION PLAN—SAVINGS AND INVESTMENT PROGRAM 
 (as amended and restated effective as of
January 1, 2007) 
  

	X.	Definitions. 

 Unless the context or subject matter
otherwise requires, the definitions set forth in this Section I shall govern in this Plan (as herein defined). Notwithstanding anything herein to the contrary, to the extent capitalized terms in this Plan conflict with such terms in the SIP (as
herein defined), the terms of the SIP shall control. 
 A. “Account Balance” shall mean the sum of the Deferral Credits and
Employer Credits made to a Participant’s Plan Account in accordance Article IV and/or any BEP-RIP Credits made to such Plan Account, as adjusted to reflect Investment Adjustments, less all prior withdrawals and/or distributions. 
 B. “Administrative Agent” shall mean the administrative agent of the Savings Plan Committee. 
 C. “Annual Benefit Salary or Wages” shall have the meaning set forth for such term in the SIP, any amendments thereto or modifications thereof.

 D. “Beneficiary” shall mean the person or persons entitled to receive payment of the unpaid portion of a Participant’s
Benefits in the event of the Participant’s death, determined in accordance with Section VI.G. 
 E. “BEP—Retirement Plan”
shall mean the Bristol-Myers Squibb Company Benefit Equalization Plan—Retirement Income Plan, and as amended from time to time. 
 F.
“BEP-RIP Credits” shall mean amounts credited to a Participant’s Plan Account pursuant to the Participant’s distribution election, if any, under the BEP—Retirement Plan. 

 G. “Claims Appeal Guidelines” shall mean the Claims Appeal Guidelines for the Bristol-Myers
Squibb Company Savings and Investment Program and the Bristol-Myers Squibb Company Employee Incentive Thrift Plan and the Benefit Equalization Plan of the Bristol-Myers Squibb Company and its Subsidiary or Affiliated Corporations Participating in
the Bristol-Myers Squibb Company Savings and Investment Program, attached hereto as Exhibit A, and as amended from time to time. 
 H.
“Code” shall mean the Internal Revenue Code of 1986, as amended. 
 I. “Company” shall mean Bristol-Myers Squibb Company
and any successor or successors thereof. 
 J. “Company Stock Fund” shall have the meaning set forth for such term in the SIP, and
as amended from time to time. 
 K. “Compensation Committee” shall mean the Compensation and Management Development Committee of
the Board of Directors of the Company. 
 L. “Deferral Credits” means amounts credited to a Participant’s Plan Account
pursuant to Sections IV.B. and IV.C. 
 M. “Employee” shall have the meaning set forth for such term in the SIP, and as amended
from time to time. 
 N. “Employer Credits” shall mean amounts credited to a Participant’s Plan Account pursuant to Section
IV.D. 
 O. “Employing Company Contributions” shall have the meaning set forth for such term in the SIP, and as amended from time
to time. 
 P. “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended. 
  

 2 

 Q. “Fixed Income Fund” shall have the meaning set forth for such term in the SIP, and as
amended from time to time. 
 R. “Installment Method” shall have the meaning set forth for such term in Section VI.A. 

S. “Investment Adjustments” shall mean increases or reductions to a Participant’s Account Balance to reflect the performance of the
investment funds in which the Participant’s Plan Account is hypothetically deemed invested in accordance with Section IV.F. 
 T.
“1991 Plan” shall mean the Bristol-Myers Company and Its Subsidiary or Affiliated Corporations Participating in the Bristol-Myers Company Savings and Investment Program, as in effect on January 1, 1991 and as amended from time to
time. 
 U. “1996 Plan” shall mean the Benefit Equalization Plan of Bristol-Myers Squibb Company and Its Subsidiary or Affiliated
Corporations Participating in the Bristol-Myers Squibb Company Savings and Investment Program. 
 V. “Participant” shall mean each
participant in this Plan as determined in accordance with Article III. 
 W. “Participating Employer” means any corporation
participating in the SIP. 
 X. “Plan” shall mean the Bristol-Myers Squibb Company Benefit Equalization Plan—Savings and
Investment Program, as amended and restated herein, and as amended from time to time. 
 Y. “Plan Account” shall mean the unfunded
notional bookkeeping account or accounts reflecting (1) amounts credited to this Plan on behalf of a Participant, (2) amounts credited to this Plan on behalf of such Participant from the BEP—Retirement Plan and (3) Investment
Adjustments. 
  

 3 

 Z. “Plan Year” shall mean the calendar year. 
 AA. “Rule of 70 Treatment” shall occur upon a Participant’s eligibility for Rule of 70 benefits under the terms and conditions of the
Bristol-Myers Squibb Company Retirement Income Plan, as amended from time to time. 
 BB. “Savings Plan Committee” shall mean the
committee appointed by the Compensation Committee of the Board of Directors of the Company to administer this Plan. The Savings Plan Committee shall serve as Plan Administrator of the Plan. 
 CC. “Separation From Service” shall mean a Participant’s voluntary or involuntary severance of employment with the Company, except by
reason of temporary absence, death or transfer to an affiliate or subsidiary of the Company; provided, however, that for purposes of Sections VI.B., VI.C., VI.D. and VI.E., a Separation From Service shall not occur until the date that
a Participant experiences a “separation from service” from the Company or other Participating Employer, as applicable, within the meaning of Code Section 409A(a)(2)(A)(i) and (1) IRS Notice 2005-1 and proposed Treas. Reg.
Section 1.409A-1(h), with respect to a Separation From Service that occurs after December 31, 2004 but prior to April 17, 2007; or (2) final Treas. Reg. Section 1.409A-1(h), with respect to a Separation From Service that
occurs on or after April 17, 2007. 
 DD. “Specified Employee” shall mean a “specified employee” as determined by
the Compensation Committee or its designee in accordance with Code Section 409A(a)(2)(B)(i). 
 EE. “SIP” shall mean the
Bristol-Myers Squibb Company Savings and Investment Program, and as amended from time to time. 
 FF. “SIP Account” shall mean a
Participant’s separate account, and each sub-account, under the SIP, and as amended from time to time. 
  

 4 

 GG. “Unforeseeable Emergency” shall mean a severe financial hardship to a participant resulting
from (1) an illness or accident of the Participant or the Participant’s spouse, Beneficiary or dependent (as defined in Section 152 of the Code, without regard to section 152(b)(1), (b)(2) and (d)(1)(b)), (ii) loss of the
Participant’s property due to casualty, or (iii) such other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant, all as determined in the sole discretion of the Savings
Plan Committee. Any determination by the Savings Plan Committee as to whether a Participant is faced with an Unforeseeable Emergency shall be made in accordance with the requirements of Treasury Regulation Section 1.409A-3(i)(3). 
 HH. “Year of Service” shall have the meaning set forth for such term in the SIP, and as amended from time to time. 
  

	XI.	Purpose and History of the Plan. 

 The purpose of
this Plan is to provide benefits for certain Employees participating in the SIP whose funded benefits are or will be limited by application of ERISA and the Code. The Plan is intended to be an unfunded “excess benefit plan” as that term is
defined in Section 3(36) of ERISA with respect to those participants whose benefits under the SIP have been limited by Section 415 of the Code, and a “top hat” plan meeting the requirements of Sections 201(2), 301(a)(3),
401(a)(1) and 4021(b)(6) of ERISA with respect to those participants whose benefits under the SIP have been limited by Section 401(a)(17) of the Code. This Plan is a continuation and successor plan to the 1991 Plan. Effective as of
January 1, 1996, the Savings and Investment Committee established the 1996 Plan as a continuation and successor plan to the 1991 Plan. All amounts accrued under the 1991 Plan continue to be accrued under this Plan. 
  

 5 

 By adoption of this amended and restated document, the Company hereby amends and restates the 1996 Plan
in its entirety, effective as of January 1, 2007, except as otherwise specified herein. 
  

	XII.	Eligibility and Participation in the Plan. 

 A.
Eligible Participants. Each Employee who was a Participant in the Plan as of December 31, 2006 shall continue to be a Participant in the Plan as of January 1, 2007. Each other Employee who is a participant in the SIP and who is
employed by a Participating Employer shall be eligible to participate in this Plan and shall become a Participant in this Plan when (1) the allocation to his SIP Account would exceed the limitations on benefits and contributions imposed by
Section 415 of the Code calculated from and after September 2, 1974, or (2) amounts of his compensation would be excluded from his Annual Benefit Salary or Wages determined under the SIP by reason of the application of
Section 401(a)(17) of the Code. 
 B. Cessation of Participation. Participation in the Plan shall terminate upon the
Participant’s Separation From Service with the Company or other Participating Employer, as applicable, except, however, that an individual who has a vested Account Balance under the Plan after his or her Separation From Service will continue to
be treated as a Participant (other than for purposes of receiving Deferral Credits and Employer Credits under Article IV) until his or her entire Account Balance has been distributed or forfeited. 
  

	XIII.	Calculation of Benefits. 

 A. Credits to Plan
Accounts. The Company shall establish and maintain a Plan Account in the name of each Participant. Deferral Credits and Employer Credits shall be made to the Plan Account of each Participant as provided in this Article IV only for those Plan
Years in which (1) he has elected to have a percentage of his Annual Benefit Salary or Wages contributed on his behalf to the SIP and 

  

 6 

 
(2) he also has in effect an irrevocable election, made prior to the Plan Year with respect to which such deferral relates, to defer a like percentage
of his Annual Benefit Salary or Wages under this Plan, to be credited to his Plan Account in the manner described in Sections IV.B. and IV.C. Notwithstanding the forgoing, (1) a Participant’s deferral election under this Plan for a Plan
Year may not be modified or terminated after the start of such Plan Year to reflect changes, if any, that the Participant makes to his contribution elections under the SIP and (2) a Participant’s Plan Account may not be credited with
Deferral Credits under both Section IV.B. and Section IV.C. for the same pay period. To the extent that, for any pay period, a Participant meets the requirements for Deferral Credits under both Section IV.B. and IV.C., Deferral Credits for such pay
period shall be provided under Section IV.B. only. Deferral Credits and Employer Credits to Participant’s Plan Accounts shall be made on a payroll period basis, (at the same time SIP contributions are allocated to the Participant’s SIP
Account), based on the proportionate amount of such Participant’s Annual Benefit Salary or Wages attributable to each such payroll period. The Participant’s Annual Benefit or Salary Wages shall be reduced by the amount of Deferral
Credits for any pay period a Participant meets the requirements for Deferral Credits under Section IV.B. and/or IV.C. 
 B. Code
Section 415 Deferral Credits. The Plan Account of each Participant who (1) meets the requirements of Section IV.A. for a Plan Year and (2) is precluded from making additional pre-tax or after-tax elective deferrals, or from
receiving additional employer contributions, to his SIP Account due to the limitations of Section 415 of the Code for such Plan Year, shall be credited with an amount equal to the percentage of his Annual Benefit Salary or Wages that he elected
to defer under the Plan for such Plan Year for the period commencing as of the first payroll period that the Participant is precluded from making any additional contributions to his SIP Account due to the application of Code Section 415,
through the last payroll period of the Plan Year. 
  

 7 

 C. Code Section 401(a)(17) Deferral Credits. The Plan Account of each Participant who
(1) meets the requirements of Section IV.A. for a Plan Year and (2) is precluded from making additional pre-tax or after-tax elective deferrals to his SIP Account because such Participant’s Annual Benefit Salary or Wages exceed the
limitations of Section 401(a)(17) of the Code, shall be credited with an amount equal to the percentage of his Annual Benefit Salary or Wages that he elected to defer under the Plan for such Plan Year for the period commencing as of the first
payroll period that the Participant is precluded from making any additional contributions to his SIP Account due to the application of Code Section 401(a)(17), through the last payroll period of the Plan Year or, if sooner, through the first
payroll period for which amounts begin to be credited to the Participant’s Plan Account pursuant to Section IV.B. for such Plan Year. 
 D. Employer Credits. The Plan Account of each Participant who receives Deferral Credits under Section IV.B. or IV.C. shall also be credited with an amount equal to the amount of Employing Company Contributions, if any, that would
have been contributed to the SIP on such Participant’s behalf for such Plan Year (without regard to the limitations imposed under Section 415 or 401(a)(17) of the Code, which would limit the amount of such Employing Company Contributions
that may be contributed to the SIP on the Participant’s behalf for such Plan Year) if an amount equal to the Deferral Credits determined under Section IV.B. and/or Section IV.C., as the case may be, had been contributed to the SIP. 

E. Suspension of Deferrals. A Participant may petition the Savings Plan Committee or its designee to cancel his deferrals under this Plan
during any period of time that the Participant establishes to the satisfaction of the Savings Plan Committee that he is facing 

  

 8 

 
an Unforeseeable Emergency. If the petition for suspension is approved, such cancellation shall take effect as of the first payroll period following the date
of approval. Notwithstanding the foregoing, a Participant’s deferrals under the Plan shall be automatically cancelled during a Plan Year if the Participant applies for and receives a hardship withdrawal under the SIP in accordance with Treas.
Reg. Section 1.401(k)-1(d)(3), but only to the extent that the Participant’s elective deferrals under the SIP are suspended on account of such hardship withdrawal. If deferrals by a Participant have been cancelled during a Plan Year due to
an Unforeseeable Emergency or on account of his receiving a hardship withdrawal under the SIP, the Participant will not be eligible to make any further deferrals in respect of that Plan Year. The Participant may be eligible to elect to make
deferrals for subsequent Plan Years provided that such elections are made prior to the Plan Year with respect to which such deferral relates. 
 F. Investment Adjustments to Plan Accounts. While a Participant’s Plan Account does not represent the Participant’s ownership of, or ownership interest in, any particular assets, the amounts credited to the
Participant’s Plan Account shall be adjusted as of the close of each business day, or at such other times as may be determined by the Savings Plan Committee, to reflect the performance of the investment funds in which such credited amounts are
hypothetically deemed invested in accordance with this Section IV.F. The investment funds in which a Participant’s Plan Account credits are hypothetically deemed invested shall be determined as follows: 
 1. Prior to October 1, 1994, each Participant was given the opportunity to elect to have credits to his Plan Account made on or after
October 1, 1994 deemed to be invested in any one or a combination of the investment funds being offered under the SIP 

  

 9 

 
on and after October 1, 1994, (other than the Company Stock Fund) in 1% increments. In the event a Participant failed to make such an election, all such
credits were deemed to be invested in the investment funds as determined by the Savings Plan Committee to be most closely resembling the investment funds the Participant had elected with respect to the credits to his Plan Account made prior to
October 1, 1994; provided, however, that where a Participant’s existing investment directions had allocated one-third (33  1/3%) of his Plan Account to each of the three investment funds in existence on September 30, 1994 (other than the Company Stock Fund), the equivalent allocation was deemed to be 33%, 33% and 34%, with 34% allocated
to the least volatile investment fund (as determined by the Savings Plan Committee) which most closely resembles the least volatile investment fund which the Participant had elected prior to October 1, 1994. 
 2. Effective as of the close of business on September 30, 1994 (or as soon as practicable thereafter), each Participant’s Plan
Account was adjusted as if the credits to his Plan Account representing a type of investment under the Plan was reduced to cash (other than any credits representing a deemed investment in the Fixed Income Fund) and reinvested in such investment fund
or funds being offered on and after October 1, 1994 under the SIP (other than the Company Stock Fund) as determined by the Savings Plan Committee to most closely resemble the respective investment fund in which such credits were deemed invested
prior to October 1, 1994. 
 3. On and after October 1, 1994, on any business day the Participant may, pursuant to
telephonic notification with the Administrative Agent, (a) elect to have Plan Account credits deemed to be invested, in 1% increments, among such funds established under the SIP, other than the Company Stock Fund, effective as of the first day
of the next payroll period (or as soon 

  

 10 

 
as practicable thereafter) and (b) elect that the credits to his Plan Account under this Article IV representing any type of investment under the Plan
be deemed to be reduced to cash (in 1% increments) and that such deemed cash be invested in such other funds which the Participant shall designate in such election, effective as of the next business day (or as soon as practicable thereafter).
Notwithstanding the foregoing, no election under clause (b) above with respect to credits accrued prior to October 1, 1994 was accepted during the period beginning on September 27, 1994 and ending on or about November 30, 1994
(or as soon as practicable thereafter). 
 4. Any investment election given by a Participant shall continue in effect until
changed by the Participant. To the extent a Participant makes no election, all such credits shall be deemed to have been invested in the default investment fund established under the SIP. 
 5. For purposes of this Plan, “telephonic notification” shall include any form of communication acceptable to the Administrative
Agent, including, telephone, telegraph, satellite or other wireless communication. A “business day” shall mean any day the New York Stock Exchange is open for business. 
  

	XIV.	Vesting. 

 A Participant shall at all times be 100%
vested in his Deferral Credits and BEP-RIP Credits (and any Investment Adjustments attributable thereto). A Participant shall become vested in Employer Credits (and any Investment Adjustments attributable thereto) at the same time that the
corresponding Employing Company Contributions allocated to the Participant’s SIP Account become vested under the SIP (or upon becoming a Participant in this Plan, if the Participant’s Employing Company Contribution are already vested under
the SIP at such time). 
  

 11 

	XV.	Time and Form of Payment of Account Balance. 

 A.
Pre-April 1, 1995. In the case of a Participant whose Separation From Service occurs prior to April 1, 1995, the vested Account Balance shall be payable to the Participant (or his Beneficiary) at the same time and in the same form
as the Participant’s benefit under the SIP is payable; provided, however, that such form of distribution is either a lump sum payment or annual installments over a period of two to 15 years consisting of an amount equal to his
vested Account Balance divided by the number of installments then remaining (including the installment in question) each year payable commencing as of the month designated for commencement of such payment and as of the same month in each year
thereafter until payment of all such installments are made (the “Installment Method”). If such form of distribution under the SIP is not one of these two forms, the distribution to such Participant (or his Beneficiary) shall be a lump sum
payment form of distribution unless he irrevocably elects, in writing, to receive such distribution at a later date or under the Installment Method, which election must be made prior to his Separation From Service, and in the Plan Year prior to, but
not less than 90 days prior to, the date such lump sum is to be paid or such installments shall commence. 
 B. April 1, 1995 to
December 31, 2004. In the case of a Participant whose Separation From Service occurs on or after April 1, 1995 and prior to January 1, 2005, the vested Account Balance shall be payable to the Participant (or his Beneficiary) as
follows: 
 1. A Participant who, as of the date of Separation From Service, has not attained age 55 with 10 or more Years of
Service with the Participating Employer or has not satisfied the eligibility requirements for Rule of 70 Treatment, shall be paid in the form of a cash lump sum payment payable as soon as practicable following such Separation From Service.

  

 12 

 2. A Participant who, as of the
date of Separation From Service, has attained age 55 with 10 or more Years of Service or satisfies the eligibility requirements for Rule of 70 Treatment shall be paid in the form of a cash lump sum payment as soon as practicable following such
Separation From Service unless, in any Plan Year prior to the Participant’s Separation From Service, but not less than 90 days prior to such Separation From Service, such Participant irrevocably elected, in writing, to receive such distribution
(i) at a later date in a cash lump sum, (ii) in the Installment Method or (iii) effective December 14, 2000, in annual installments based on the Participant’s life expectancy or joint life expectancy of his Beneficiary
commencing April 1 of the year following the later of (A) the year in which the Participant reaches age 70- 1/2 or
(B) the year in which the Participant has a Separation From Service. 
 3. Effective December 14, 2000, a Participant at the E-09 grade level or above who attains age 55 with 10 or more Years of Service or satisfies the eligibility requirements for Rule of 70 Treatment may elect
prior to their Separation From Service, but not less than 90 days prior to such Separation From Service, (A) to receive annual installments beginning no later than April 1 of the year following the later of (1) the year such
Participant reaches age 70- 1/2 or (2) the year in which the Participant has a Separation From Service, and (B) an
amount for the first year installment which must be no less than five percent of such Participant’s vested Account Balance as of the payment commencement date. Each installment thereafter would be adjusted for the cost of living increase under
the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) that is used 

  

 13 

 
to adjust benefits paid to Social Security beneficiaries and such installments shall continue until the earlier of the (A) the vested Account Balance
having no more value or (B) the Participant’s death, upon which time the remaining Account Balance would be paid in a lump sum to the designated beneficiary. 
 C. January 1, 2005 to December 31, 2006. In the case of a Participant whose Separation From Service occurs on or after January 1, 2005 and prior to January 1, 2007, the vested Account
Balance shall be payable to the Participant (or his Beneficiary) in the default form of payment set forth in Section VI.C.1. herein, unless a timely election for an alternative form of payment is made in accordance with Section VI.C.2. herein.

 1. Default Form of Payment. A Participant who, as of the date of his Separation From Service, is either (A) not
eligible to retire under the SIP, (B) does not satisfy the eligibility requirements for Rule of 70 Treatment or (C) is eligible to retire under the SIP or satisfies the eligibility requirements for Rule of 70 Treatment but does not make a
timely election pursuant to Section VI.C.2. herein shall receive his vested Account Balance, subject to Section VI.F. herein, in a cash lump sum payment within 60 days following the Participant’s Separation From Service. 
 2. Alternative Forms of Payment. A Participant who, as of the date of his Separation From Service, is either eligible to retire
under the SIP or satisfies the eligibility requirements for Rule of 70 Treatment shall be permitted to elect payment under one or more of the following forms of payment, provided that such election is made no later than 12 months prior
to the date of such Participant’s Separation From Service: 
 a. With respect to
the portion of such Participant’s Account Balance credited and vested prior to January 1, 2005: (1) in a cash lump sum payment at a deferred date; (2) in annual installments of two to 15 years; or (3) in annual installments
based on the Participant’s life expectancy or joint life expectancy of his Beneficiary commencing April 1 of the year following the later of (A) the year in which the Participant reaches age 70- 1/2 or (B) the year in which the Participant has a Separation From Service. 
  

 14 

 b. With respect to the portion of such
Participant’s Account Balance credited or vested on or after January 1, 2005: (1) in a cash lump sum payment at a deferred date; or (2) in annual installments of two to 15 years. A Participant who makes an alternative payment
election pursuant to this Section VI.C.2.b. must also elect when payments will commence, provided that payments cannot commence earlier than five years following such Participant’s Separation From Service; provided,
however, that if the Participant has not attained age 66 as of the date of his Separation From Service, the commencement date cannot be later than the year following the year in which such Participant attains age 70- 1/2; provided further that if the Participant has attained age 66 as of the date of his Separation From Service, the
commencement date shall be the first day of the first month following the five–year anniversary of such Participant’s Separation From Service. 
 D. Post-December 31, 2006. In the case of a Participant whose Separation From Service occurs on or after January 1, 2007, the vested Account Balance shall be payable to the Participant (or his
Beneficiary) in the default form of payment set forth in Section VI.D.1. herein, unless a timely election for an alternative form of payment is made in accordance with Section VI.D.2. herein. 
  

 15 

 1. Default Form of Payment. A Participant who, as of the date his Separation From
Service occurs, either (A) is not eligible to retire under the SIP, (B) does not satisfy the eligibility requirements of Rule of 70 Treatment or (C) is eligible to retire under the SIP or satisfies the eligibility requirements for
Rule of 70 Treatment but does not make a timely election pursuant to Section VI.D.2. herein shall receive his accrued and vested Account Balance, subject to Section VI.F. herein, in a cash lump sum payment within 60 days following such
Participant’s Separation From Service. 
 2. Alternative Form of Payment. A Participant who, as of the date his
Separation From Service occurs, is either eligible to retire under the SIP or satisfies the eligibility requirements for Rule of 70 Treatment shall be permitted to elect to receive his vested Account Balance at a deferred date (as set forth below),
provided that such election is made no later than 12 months prior to the date of such Participant’s Separation From Service. A Participant who elects to receive his Account Balance in accordance with this Section VI.D.2. must also
elect (a) when payments will commence, and (b) whether the payment will be made in a lump sum or in annual installments of two to 15 years. Any such elections under this Section VI.D.2. must comply with the subsequent deferral election
requirements set out in Section VI.D.4. below. A Participant electing the alternative form of payment under this Section VI.D.2. may not make any subsequent elections, except for a subsequent election made in accordance with the requirements set out
in Section VI.D.4. 
  

 16 

 3. Prior Elections. In the case of a Participant whose Separation From Service
occurs on or after January 1, 2007 and who at the time of such Separation From Service is eligible to retire under the SIP or satisfied the eligibility requirements for Rule of 70 Treatment and who, prior to January 1, 2007, made a timely
election regarding the form of payment of his vested Account Balance (i.e., such election was made at least twelve months prior to Separation From Service), such election shall continue to apply to such Participant’s accrued and vested
Account Balance and may not be changed 
 4. Subsequent Deferral Elections. Any election under Sections VI.C.2.b or
VI.D.2 to change from the default form of payment to an alternate form of payment must satisfy each of the following requirements: 
 a. Such
election must be made no later than 12 months prior to the date such Participant’s Separation From Service occurs; 
 b. Such election
will not be valid and effective until 12 months after it is received by the Plan Administrator; and 
 c. Such election must provide for a
payment commencement date that is at least five years later than the date the distribution otherwise would have been made under the default payment terms or prior payment election. 
 E. De Minimis Lump Sum. Notwithstanding any provision of the Plan or payment election of a Participant to the contrary: 
 1. If the value of the vested Account Balance of a Participant whose Separation From Service occurs on or after April 1, 1995 and
prior to January 1, 2006 is $15,000 or less, such vested Account Balance shall be paid to or in respect of the Participant in a single lump sum on the first day of the month following such Participant’s Separation From Service. 

 

 17 

 2. If the value of the vested Account Balance of a Participant whose Separation From
Service occurs on or after January 1, 2006 is less than $10,000, such vested Account Balance shall be paid to or in respect of the Participant in a single lump sum on the first day of the month following such Participant’s Separation From
Service. 
 F. Specified Employees. Notwithstanding any provision of the Plan or payment election of a Participant to the contrary, if
a Participant is a Specified Employee at his Separation From Service, payment of the portion of his Account Balance that was credited or vested on or after January 1, 2005 shall occur no earlier than the date that is six-months after the
Participant’s Separation From Service (unless such Participant dies, in which event the vested Account Balance shall be payable in accordance with Section VI.G. hereof). Any portion of the vested Account Balance that would otherwise be paid to
a Specified Employee prior to the end of such six-month period shall be paid on the last day of the payroll period that begins coincident with or next following the six-month anniversary of the Participant’s Separation From Service. 

G. Payment of Account Balances in the Event of the Participant’s Death. A Participant may designate a Beneficiary to receive payment of
all or part of the value of his vested Account Balance in the event of his death, if such Beneficiary shall be living at the time of his death; provided, however, that if the Participant has elected to have his benefit under the SIP
paid in the form of a “qualified joint and survivor annuity,” then the Participant’s Beneficiary shall be his spouse. A Participant may, subject to the preceding sentence, change or revoke a designation of Beneficiary and such
designation, change or revocation shall be on a form to be provided for this purpose and shall be signed by the Participant shall be valid only if delivered to his Participating Employer prior 

  

 18 

 
to his death. In the event of the death of the Participant prior to the Participant’s attainment of age 55 with 10 or more Years of Service with the
Participating Employer or satisfaction of the eligibility requirements for Rule of 70 Treatment, the value of his vested Account Balance with respect to which a designation of Beneficiary has been made (to the extent it is valid and enforceable
under applicable law) shall be distributed to the surviving designated Beneficiary in a cash lump sum payment within 90 days after the Participant’s death. In the event of the death of the Participant after the Participant has attained
age 55 with 10 or more Years of Service with the Participating Employer or has satisfied the eligibility requirements for Rule of 70 Treatment, the value of his vested Account Balance with respect to which a designation of Beneficiary has been made
(to the extent it is valid and enforceable under applicable law) shall be distributed to the surviving designated Beneficiary at the same time and in the same form of payment that would have been made to the Participant had he survived. In
the event of the Beneficiary’s death after payments have commenced to the Beneficiary, but prior to the complete distribution of the Participant’s vested Account Balance, the remaining value of the Participant’s Account Balance shall
be distributed to the Beneficiary’s estate in a cash lump sum payment within 90 days following his death. If the Participant has not designated a Beneficiary, or if no Beneficiary shall be living at the time of the Participant’s death, the
value of the Participant’s vested Account Balance shall be distributed in a cash lump sum payment within 90 days following his death to the person or persons in the first of the following classes of successive preference: 
  

	 	1.	The Participant’s surviving spouse. 

  

	 	2.	Equally among the Participant’s surviving children. 

  

	 	3.	Equally among the Participant’s surviving parent. 

  

 19 

	 	4.	Equally among the Participant’s surviving brothers and sisters. 

  

	 	5.	The Participant’s executors or administrators. 

 Payment to one or more of such persons shall completely discharge the Plan with respect to the amount so paid. Notwithstanding the above, if the Participant has designated a Beneficiary under the SIP, such designation shall be deemed a
designation for purposes of this Plan unless a separate beneficiary designation is made under this Plan in accordance with the foregoing. 
 H. Distribution for Unforeseeable Emergency. Effective January 1, 2005, if a Participant shall establish to the satisfaction of the Savings Plan Committee or its designee in accordance with principles and procedures established
by the Savings Plan Committee which are applicable to all persons similarly situated that a withdrawal to be made by him pursuant to this Section VI.H. is to be made by reason of an Unforeseeable Emergency, the Participating Employer shall
distribute to the Participant the amount reasonably necessary to meet such Unforeseeable Emergency but not more than the value of his vested Account Balance. 
 I. Other Permissible Payment Events. All or a portion of the value of the vested Account Benefits may be paid if and to the extent reasonably necessary to permit the Participant to avoid the violation of an
applicable Federal, state, local or foreign ethics law or conflicts of interest law within the meaning of final Treas. Reg. Section. 1.409A-3(j)(4)(iii)(B). 
 J. No Post-Separation Elections. Notwithstanding anything herein to the contrary, a Participant may not make any election(s) regarding the time and form of the payment of the value of his vested Account Balance
subsequent to the occurrence of his Separation From Service. 
  

 20 

	XVI.	Administration of the Plan. 

 A.
Administration. The Savings Plan Committee shall administer this Plan. As Plan Administrator, the Savings Plan Committee shall have full discretionary authority to determine all questions arising in connection with the Plan, including its
interpretation, application and administration, may adopt procedural rules, and may employ and rely on such legal counsel, such actuaries, such accountants and such agents as it may deem advisable to assist in the administration of the Plan. Any and
all decisions of the Savings Plan Committee as to interpretation or application of this Plan shall be conclusive and binding on all person, shall be given full force and effect, and shall be reviewed by any court or arbitrator on an arbitrary and
capricious standard, rather than a de novo standard. 
 B. Delegation. The Savings Plan Committee may (1) designate
a person or persons and/or appoint an administrative committee to carry out the day-to-day administration of the Plan, and (2) authorize any agent to execute or deliver any instrument or make any payment on the Savings Plan Committee’s
behalf or provide such services as the Savings Plan Committee may require in carrying out the provisions of the Plan. 
 C. Limitation of
Liability. Neither the Savings Plan Committee nor any member of the Board of Directors nor any officer, employee or agent of the Company shall incur any liability individually or on behalf of any other individuals or on behalf of the Company for
any act, or failure to act, in relation to the Plan or the funds of the Plan unless such action or inaction is adjudged to be due to fraud. The Savings Plan Committee and each member of the Board of Directors shall be entitled, in good faith, to
rely or act upon any report or other information furnished to him by any other officer or other employee of the Company, the Company’s independent certified public accountants, or any executive compensation consultant, legal counsel or other
professional retained by 

  

 21 

 
the Company. None of the Savings Plan Committee, the Compensation Committee or any member of the Board of Directors shall be entitled to act on or decide any
matter relating solely to himself or any of his rights or benefits under the Plan. 
 D. Indemnification. The Savings Plan Committee,
each member of the Board of Directors and their delegates, and the officers, employees and agents of the Company shall be indemnified by the Company against any and all liabilities arising by reason of any act, or failure to act, in relation to the
Plan or the funds of the Plan, including, without limitation, expenses incurred in the defense of any claim relating to the Plan or the funds of the Plan, and amounts paid in any compromise or settlement relating to the Plan or the funds of the
Plan, unless such action or inaction is adjudged to be due to fraud. 
 E. Claims Procedure. All claims for benefits under the Plan
shall be submitted and reviewed in accordance with the Claims Appeal Guidelines. No claimant shall institute any action or proceeding in any state or federal court of law or equity or before any administrative tribunal or arbitrator for a claim of
benefits under the Plan until the claimant has first exhausted the Plan’s review procedures set forth in the Claims Appeal Guidelines. Any and all decisions of the Company pursuant to the Claims Appeal Guidelines shall be conclusive and binding
on all persons, shall be given full force and effect, and shall be reviewed by any court or arbitrator on an arbitrary and capricious standard, rather than a de novo standard. 
 F. Expense. Expenses of the Savings Plan Committee attributable to the administration of the Plan shall be paid directly by the Company.

  

	XVII.	General Provisions. 

 A. Termination of the
Plan. The Board of Directors of the Company reserves the right to terminate the Plan at any time, and the Company or any other Participating Employer may terminate this Plan with respect to its Employees who participate in the SIP;
provided, however, that no such termination shall be effective retroactively. As of the effective date of termination of the Plan: 
 1. The rights of a Participant to his Plan Account established under this Plan shall become non-forfeitable. 
  

 22 

 2. The Account Balance of any Participant (or his Beneficiary) whose Account Balance
payments have commenced shall continue to be paid; 
 3. No further amounts may be credited to the Plan Accounts of
Participant whose Account Balance payments have not commenced and such Participant (or his Beneficiary) shall retain the right to an Account Balance hereunder; and 
 4. Account Balance payments that have not commenced as of the Plan termination date may be accelerated provided that (a) the
Company’s termination and liquidation of the Plan does not occur proximate to a downturn in the financial health of the Company, (b) no payment of Account Balances are made earlier than 12 months after all action necessary to irrevocably
terminate and liquidate the Plan has been completed other than payments that would be payable under the terms of the Plan if the action to terminate and liquidate the Plan had not occurred, (c) all payment of Account Balances are completed
within 24 months thereafter, (d) all other nonqualified account balance plans maintained by the Company are terminated with respect to all participants in such plans and such plans would be aggregated under final Treas. Reg.
Section 1.409A-1(c), (e) the Company does not adopt a new plan that would be aggregated with any terminated plan under final Treas. Reg. Section 1.409A-1(c) if the Participant participated in both plans, at any time within three years
following the date the Company takes all necessary action to irrevocably terminate and liquidate the Plan, and (f) the conditions of final Treas. Reg. Section 1.409A-3(j)(ix)(C) are satisfied. 
  

 23 

 B. Plan Not a Contract of Employment. Nothing in this Plan shall be construed as giving any
Employee the right to be retained in the employ of any Participating Employer. Each Participating Employer in the Plan expressly reserves the right to dismiss any Employee at any time without regard to the effect which such dismissal might have upon
him under the Plan. 
 C. Amendment. This Plan may be amended at any time by the Compensation Committee of the Board of Directors of
the Company, or by the Savings Plan Committee at any time in accordance with the materiality guidelines regarding modifications to employee benefit plans established by the Compensation Committee, except that no such amendment shall deprive any
Participant of the amount then credited to his Plan Account and vested at the time of such amendment. 
 D. Funding. All amounts
payable in accordance with this Plan shall constitute a general unsecured obligation of the Company and the other Participating Employers. Benefits payable under this Plan, as well as any administrative costs related to the Plan, shall not be funded
and shall be made out of the general assets of the Company and the other Participating Employers or any grantor trust established for this purpose. 
 The Company may, in its discretion, establish a grantor trust for the benefit of the Participants of the Plan. The assets placed in such trust shall be held separate and apart from other Company funds and shall be used exclusively for the
purposes set forth in the Plan and the applicable trust agreement, subject to the following conditions: 
 1. the creation of
said trust shall not cause the Plan to be other than “unfunded” for purposes of Title I of ERISA; 
  

 24 

 2. the Company shall be treated as “grantor” of said trust for purposes of
Section 677 of the Code; 
 3. the agreement of such trust shall provide that its assets may be used upon the insolvency
or bankruptcy of the Company to satisfy claims of the Company’s general creditors and that the rights of such general creditors are enforceable by them under federal and state law; 
 4. the trust shall not be established as an offshore trust; and 
 5. the trust shall not provide that its assets will become restricted to the payment of the Account Balances in the event of a change in
the financial health of the Company. 
 To the extent that a grantor trust is established by the Company, the Savings Plan
Committee may from time to time reserve unto itself the right to vote any shares of equity securities held in a trust fund or may permit such other committee, or investment manager or managers as it may designate to exercise such responsibility.

 No Participant or Beneficiary shall have any right, title or interest whatsoever in or to any investments that the Company may make to aid
the Company in meeting its obligation hereunder or assets held by any trust. Nothing contained in this Plan, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind, or a fiduciary relationship,
between the Company and any Participant or Beneficiary. To the extent that any person acquires a right to receive payments from the Company hereunder, such rights are no greater than the right of an unsecured general creditor of the Company.

 E. Facility of Payment. In the event that the Company shall find that a Participant or Beneficiary is unable to care for his
affairs because of illness or accident, or because such individual is a minor or has died, the Company may, unless a claim shall have been 

  

 25 

 
made therefore by a duly appointed legal representative, direct that any benefit payment due to him pursuant to this Plan, to the extent not payable from a
grantor trust, be paid on his behalf to his spouse, a child, a parent or other blood relative, or to a person with whom he resides, and any such payment so made shall be a complete discharge of the liabilities of the Company and the Plan therefor.

 F. Withholding Taxes. The Company shall deduct from any payment made under the Plan the amount of withholding taxes due any
federal, state or local authority in respect of such payment and take such other action as may be necessary in the opinion of the Company to satisfy all obligations for payment of such withholding. 
 G. Compliance with Code Section 409A. 
 1. It is intended that the terms of the Plan and Participant and Beneficiary rights hereunder meet applicable requirements of Code Section 409A and the final Treasury Regulations promulgated thereunder so that a
Participant or Beneficiary is not deemed to be in constructive receipt of compensation until such time as benefits are actually paid. The Plan shall be interpreted and administered to the extent possible in a manner consistent with the foregoing
statement of intent. 
 2. In each case where the Plan provides for the payment of amounts that were accrued or vested after
December 31, 2004 within a designated period of time after Separation From Service (e.g., within 60 days after Separation From Service) and such period begins and ends in different calendar years, the exact payment date within such range
shall be determined by the Plan Administrator, in its sole discretion, and the Participant shall have no right to designate the year in which the payment shall be made. 
  

 26 

 3. If the Participant (or his Beneficiary) notifies the Savings Plan Committee (with
specificity as to the reason therefore) that the Participant (or his Beneficiary) believes that any provision of this Plan (or of any award of compensation) would cause the Participant (or his Beneficiary) to incur income tax prior to the receipt of
payment or any additional tax or interest under Code Section 409A and, upon notice, the Savings Plan Committee or its designee concurs with such belief, or if the Savings Plan Committee or its designee (without any obligation whatsoever to do
so) independently makes such determination, the Savings Plan Committee or its designee shall, after consulting with the Participant (or the Beneficiary), reform such provision to the extent possible to attempt to comply with Code Section 409A
or to be exempt from Code Section 409A. 
 4. In no event whatsoever shall the Company be liable for any additional tax
interest or penalties that may be imposed on the Participant (or his Beneficiary) as a result of Code Section 409A or any damages for failing to comply with Code Section 409A. 
 H. Construction. 
 1.
This Plan shall be construed, regulated, administered and enforced under the laws of the State of New York, without regard to its conflict of laws provisions, to the extent such laws are not superseded by applicable federal law. 
 2. Whenever appropriate, words used herein in the singular may be read in the plural, or words used herein in the plural may be read in
the singular; the masculine may include the feminine. 
  

 27 

 3. The illegality of any particular provision of this document shall not affect the other
provisions and the document shall be construed in all respects as if such invalid provision were omitted. 
 4. Headings and
subheadings in the Plan are for reference only, and if there is any conflict between such headings or subheadings and the text of the Plan, the text shall control. 
 I. Successors and Assigns. The Plan shall be binding on the Company’s successors and assigns. No right, title or interest of any kind in the Plan shall be transferable or assignable by a Participant (or
his Beneficiary) or be subject to alienation, anticipation, sale, pledge, encumbrance, garnishment, attachment, levy, execution or other legal or equitable process, nor be subject to debts, contracts, liabilities or engagements, or torts of any
Participant (or his Beneficiary). Any attempt to alienate, sell, transfer, assign, pledge, garnish, attach or take any other action subject to legal or equitable process or encumber or dispose of any interest in the Plan shall be void. 

 

	XVIII.	Effective Date. 

 This amended and restated Plan
shall be effective as of January 1, 2007, except as otherwise specified herein. 
  

 28International Pension Plan

 Exhibit 10.33 
 MEAD JOHNSON 
 KEY INTERNATIONAL PENSION PLAN 
 Effective as of February 1, 2009 

 TABLE OF CONTENTS 
  

							
	 Section
	  	Page
	I.	 	DEFINITIONS	  	2
		 	1.01	  	“Actuarial Equivalent”	  	2
		 	1.02	  	“Annual Rate of Compensation”	  	2
		 	1.03	  	“BMS”	  	2
		 	1.04	  	“Board”	  	2
		 	1.05	  	“Code”	  	2
		 	1.06	  	“Committee”	  	2
		 	1.07	  	“Company”	  	2
		 	1.08	  	“Deferred Retirement Date”	  	2
		 	1.09	  	“Designated Joint Pensioner”	  	3
		 	1.10	  	“Disability” or “Disabled”	  	3
		 	1.11	  	“Disability Determination Date”	  	3
		 	1.12	  	“Earliest Retirement Date”	  	3
		 	1.13	  	“Early Retirement Date”	  	3
		 	1.14	  	“Effective Date”	  	3
		 	1.15	  	“ERISA”	  	3
		 	1.16	  	“Excess Severance Payments”	  	3
		 	1.17	  	“Final Annual Salary”	  	3
		 	1.18	  	“Foreign Affiliated Company”	  	3
		 	1.19	  	“Home Country”	  	4
		 	1.20	  	“Home Country Plan”	  	4
		 	1.21	  	“Key Employee”	  	4
		 	1.22	  	“Normal Retirement Date”	  	4
		 	1.23	  	“Other Participating Employer Benefits”	  	4
		 	1.24	  	“Participant”	  	4
		 	1.25	  	“Participating Employer”	  	4
		 	1.26	  	“Pay”	  	4
		 	1.27	  	“Plan”	  	4
		 	1.28	  	“Prior BMS Plan”	  	4
		 	1.29	  	“Regional Pension Participant”	  	4
		 	1.30	  	“Replication Program Participant”	  	5
		 	1.31	  	“Retirement Income”	  	5
		 	1.32	  	“Section 409A Participant”	  	5
		 	1.33	  	“Section 409A Specified Employee”	  	5
		 	1.34	  	“Separation from Service”	  	5
		 	1.35	  	“Social Security Amounts”	  	6
		 	1.36	  	“Supplemental Program Participant”	  	6
		 	1.37	  	“United States”	  	6
		 	1.38	  	“U.S. Participant”	  	6
		 	1.39	  	“U.S. Retirement Plan”	  	6
		 	1.40	  	“Year of Service”	  	6
		 	1.41	  	“Year of Vesting Service”	  	7

  

 i 

							
	II.	 	ELIGIBILITY & PARTICIPATION	  	7
		 	2.01	  	Regional Pension Participants	  	7
		 	2.02	  	Replication Program Participants	  	7
		 	2.03	  	Supplemental Program Participants	  	7
		 	2.04	  	Non-Duplication of Benefits	  	7
			
	III.	 	PLAN BENEFITS	  	7
		 	3.01	  	General	  	7
		 	3.02	  	Currency	  	7
		 	3.03	  	Source of Payments	  	8
			
	IV.	 	KEY REGIONAL PENSION COMPONENT	  	8
		 	4.01	  	Normal Retirement Benefits	  	8
		 	4.02	  	Early Retirement Benefits	  	9
		 	4.03	  	Deferred Retirement Benefits	  	10
		 	4.04	  	Death Benefits	  	10
		 	4.05	  	Disability Benefits	  	11
		 	4.06	  	Termination of Service Prior to Earliest Retirement Date	  	12
		 	4.07	  	Payment of Retirement Income	  	13
			
	V.	 	KEY INTERNATIONAL REPLICATION PROGRAM	  	15
		 	5.01	  	Purpose	  	15
		 	5.02	  	Home Country Plans	  	15
		 	5.03	  	Retirement Date	  	15
		 	5.04	  	Retirement Income	  	15
		 	5.05	  	Vested Benefits	  	16
		 	5.06	  	Other Benefits	  	16
		 	5.07	  	Payment of Benefits	  	16
		 	5.08	  	Tax Treatment	  	16
			
	VI.	 	KEY INTERNATIONAL SUPPLEMENTAL PROGRAM	  	16
		 	6.01	  	Purpose	  	16
		 	6.02	  	Home Country Plans	  	17
		 	6.03	  	Retirement Income	  	17
		 	6.04	  	Vested Benefits	  	17
		 	6.05	  	Payment of Benefits	  	17
		 	6.06	  	Tax Treatment	  	17
			
	VII.	 	SPECIAL PROVISIONS APPLICABLE TO SECTION 409A PARTICIPANTS AND OTHER U.S. PARTICIPANTS	  	17
		 	7.01	  	Participants Covered	  	17
		 	7.02	  	Death Benefits	  	18
		 	7.03	  	Payment of Retirement Income	  	18
		 	7.04	  	Legal Status	  	20
			
	VIII.	 	AMENDMENT AND TERMINATION	  	20
		 	8.01	  	Amendment	  	20

  

 ii 

							
		 	8.02	  	Termination	  	20
			
	IX.	 	THE COMMITTEE	  	20
		 	9.01	  	Membership	  	20
		 	9.02	  	Committee Powers	  	21
		 	9.03	  	Committee Actions	  	21
		 	9.04	  	Delegation	  	21
		 	9.05	  	Limitation of Liability	  	22
			
	X.	 	MISCELLANEOUS PROVISIONS	  	22
		 	10.01	  	Alienation of Benefits Prohibited	  	22
		 	10.02	  	No Employment Rights Granted	  	22
		 	10.03	  	No Additional Rights	  	22
		 	10.04	  	Incapacity	  	22
		 	10.05	  	Missing Payees	  	22
		 	10.06	  	Correction of Errors	  	22
		 	10.07	  	Jurisdiction	  	22
		 	10.08	  	Invalidity	  	23
		 	10.09	  	Number and Gender	  	23
		 	10.10	  	Headings	  	23

  

 iii 

 Mead Johnson Key International Pension Plan 
 On December 28, 1976, the Board of Directors of Bristol-Myers Service Ltd. established the Bristol-Myers Service Ltd. Pension Plan (the “BMS
Ltd. Plan”) for the purpose of providing an adequate benefit in retirement to mobile non-U.S. employees who, based on the tenure and regulatory landscape of their assignments, were unable to accrue an adequate pension in their assigned
location. The BMS Ltd. Plan was restated effective May 1, 1988 as the Bristol-Myers Key International Pension Plan and was further amended effective January 1, 1992 to, among other things, reflect the assumption of liabilities from the
Squibb Universal Retirement Income Plan in connection with the Bristol-Myers Squibb Company’s 1989 merger with Squibb Corporation, and to update the actuarial factors used in the BMS Ltd. Plan. At that time, the name of the BMS Ltd. Plan was
changed to the Bristol-Myers Squibb Company Key International Pension Plan (the “BMS Key International Pension Plan”). 
 In 1995,
to address the increasing volume of intra-regional transfers with Europe, Asia and Latin America, BMS implemented a new benefit structure under the BMS Key International Pension Plan, which was referred to as the Bristol-Myers Squibb Key Regional
Pension Plan (the “BMS Key Regional Pension Plan”). The benefit structure under the BMS Key Regional Pension Plan was substantially similar to the primary benefit structure under the BMS Key International Pension Plan, except that it
provides a reduced pension formula that was considered to be more competitively aligned with the pension practices of the target regions. Two additional benefit structures were subsequently added; the BMS Key International Replication Program and
BMS Key International Supplemental Program, each of which is designed to provide certain key employees of BMS who were transferred from one country to another with benefits that were based on the benefits that were provided by their Home Country
Plan prior to their transfer. Collectively, the benefit structures under the BMS Key International Pension Plan, the BMS Key Regional Pension Plan, the BMS Key International Replication Program and the BMS Key International Supplemental Program
comprise the Bristol-Myers Squibb Key International Pension Plan. 
 The Bristol-Myers Squibb Company Key International Pension Plan was
amended and restated, effective January 1, 1995 to incorporate therein (i) the January 1, 1992 amendments to the BMS Key International Pension Plan, (ii) the substantive provisions of the BMS Key Regional Pension Plan, BMS Key
International Replication Program and BMS Key International Supplemental Program benefit structures and (iii) effective as of January 1, 2005, the applicable requirements of section 409A of the U.S. Internal Revenue Code of 1986. At that
time, the Bristol-Myers Squibb Company Key International Pension Plan was renamed the Bristol-Myers Squibb Key International Pension Plan (the “Prior BMS Plan”). 
 Prior to the Effective Date, certain Key Employees of the Company who were employed by BMS or the Company participated in the Prior BMS Plan. As of the
Effective Date, the Company assumed the obligation to pay, under this Plan, all benefits accrued under the Prior BMS Plan with respect to Key Employees who were active participants in the Prior BMS Plan as of the day immediately preceding the
Effective Date. Therefore, this Plan is a continuation and successor plan to the Prior BMS Plan with respect to all such benefits accrued thereunder prior to the Effective Date with respect to Key Employees who participated in the Prior BMS Plan.

 Participation in this Plan is limited to Key Employees who were active participants in the Prior BMS Plan
as of the day immediately preceding the Effective Date. No new Participants shall be admitted to the Plan after the Effective Date. 
  

	I.	DEFINITIONS 

 The following words and phrases, as
used herein, have the following meanings unless otherwise indicated: 
  

	1.01	“Actuarial Equivalent” means a benefit of equivalent value to the benefit that would otherwise have been provided, unless otherwise specified in the Plan, using the
actuarial factors specified from time to time in the U.S. Retirement Plan for such purpose (which factors are incorporated as part of this Plan). 

  

	 1.02
	 “Annual Rate of Compensation” means the annual rate, as determined by the Committee as of
December 31 of each calendar year, of the regular salary or wages of a Participant, without regard to any increase in such rate occurring after the fifth anniversary of the Effective Date, plus all commissions, cash or other cash awards, cash
bonuses, overtime and shift differential, if any, paid during the calendar year, but excluding (i) severance pay, (ii) any compensation or benefits paid in a form other than cash, (iii) distributions of compensation deferred during a
prior calendar year and earnings thereon and (iv) short-term and long-term incentive plan awards and distributions, such as restricted stock, restricted stock units and stock options; except, however, that if a Participant retires
or is terminated prior to December 31st of a calendar year, the annual rate of regular base salary or wages that will be used for purposes of
calculating the Annual Rate of Compensation for such calendar year will be the annual rate, as determined by the Committee, as of the Participant’s last day of work, and shall include the aggregate of the following amounts, if any, that were
paid to such Participant during the preceding calendar year (and no such amounts, if any, that were paid to such Participant in the current calendar year), namely, total commissions paid on the basis of sales, cash awards, sales and middle
management bonuses, other bonuses, service awards, overtime and shift differential. 

  

	1.03	“BMS” means Bristol-Myers Squibb Company and any of its affiliates or subsidiaries (other than the Company), and any successor thereto. 

  

	1.04	“Board” means the Board of Directors of the Company. 

  

	1.05	“Code” means the U.S. Internal Revenue Code of 1986, as amended, and any applicable U.S. Treasury regulations promulgated thereunder. 

  

	1.06	“Committee” means the committee appointed by the Board to administer this Plan, as described under Article IX. 

  

	1.07	“Company” means Mead Johnson & Company or any successor thereto. 

  

	1.08	“Deferred Retirement Date” means the retirement date described in Section 4.03(a). 

  

 2 

	1.09	“Designated Joint Pensioner” means a Participant’s surviving spouse or any beneficiary designated by a Participant in writing to receive amounts determined
under Section 4.04 or Section 4.07. 

  

	1.10	“Disability” or “Disabled” means a Participant’s absence from work for a continuous period of at least 26 weeks as a result of inability, due to
illness or injury, to perform the essential functions of his position or any other position offered to the Participant by a Participating Employer for which the Participant is reasonably qualified by virtue of his education, training and experience;
provided, however, that a Participant will not be considered Disabled if he or she is working at any other job at a Participating Employer (or at any other employer) or earning self-employment income. 

  

	1.11	“Disability Determination Date” means the date that the Committee deems a Participant to be Disabled, in accordance with Section 4.05; provided,
however, that the Disability Determination Date shall not be earlier than the last day of the 26 week period of continuous absence that gives rise to a finding of Disability. 

  

	1.12	“Earliest Retirement Date” means the earliest age on which a Participant can retire and commence receiving Retirement Income under the Plan.

  

	1.13	“Early Retirement Date” means the retirement date described in Section 4.02(a). 

  

	1.14	“Effective Date” means February 1, 2009. 

  

	1.15	“ERISA” means the U.S. Employee Retirement Income Security Act of 1974, as amended, and any applicable U.S. Department of Labor regulations promulgated thereunder.

  

	1.16	“Excess Severance Payments” means the excess of (a) the aggregate amount of any severance and/or indemnity payments that an involuntarily terminated
Participant is entitled to receive under any severance and/or indemnity plan, scheme or agreement of a Participating Employer over (b) the aggregate amount of severance payments that would have been payable to the Participant under the
Company’s United States severance plan had the Participant been eligible to participate in that plan. 

  

	1.17	“Final Annual Salary” means a Participant’s average Annual Rate of Compensation during the five consecutive year period, occurring in the last ten years of his
employment with BMS or a Participating Employer, which produces the highest average Annual Rate of Compensation; provided, however, that in no event shall an increase in a Participant’s Annual Rate of Compensation after the fifth anniversary of
the Effective Date be taken into account for the determination of Final Average Salary. Participants’ Final Annual Salary will be converted to United States dollars for each year of the five consecutive year period used to calculate such
Participant’s Final Annual Salary using the currency exchange rate in effect on December 31 of such year. 

  

	1.18	“Foreign Affiliated Company” means any subsidiary or affiliate of the Company that is located outside the United States. 

  

 3 

	1.19	“Home Country” means the country in which a Key Employee regularly performed services for a Foreign Affiliated Company prior to a transfer to a Participating
Employer located in another country. 

  

	1.20	“Home Country Plan” means a pension, retirement or similar plan maintained, or contributed to, by a Foreign Affiliated Company on behalf of a Key Employee in the
Key Employee’s Home Country. 

  

	1.21	“Key Employee” means any person regularly rendering services for a Participating Employer as of the Effective Date, on a full-time basis, as a director or officer
or in any managerial capacity, excluding any person deemed to be performing services on a part-time, seasonal or irregular basis. 

  

	1.22	“Normal Retirement Date” means the retirement date described in Section 4.01(a). 

  

	1.23	“Other Participating Employer Benefits” means any benefit paid on retirement, disability, or termination of service (other than Social Security Amounts), which is
provided by a Participating Employer by reason of law or otherwise, or is attributable in whole or in part to contributions made or premiums paid by a Participating Employer directly or indirectly, or by reason of taxes paid by a Participating
Employer. Other Participating Employer Benefits will also include indemnity payments funded by a Participating Employer, which are payable or paid upon a Participant’s transfer, termination of services or retirement, actuarially adjusted, as
appropriate. 

  

	1.24	“Participant” means a Regional Pension Participant, a Replication Program Participant or a Supplemental Program Participant. 

  

	1.25	“Participating Employer” means the Company and any of its subsidiaries or affiliates, other than BMS. 

  

	1.26	“Pay” means, for purposes of Section 4.05, the aggregate of a Participant’s monthly base salary or wages (excluding any sales commissions, bonuses or
other additional remuneration for which the Participant may be eligible) as of his Disability Determination Date. 

  

	1.27	“Plan” means the Mead Johnson Key International Pension Plan, effective as of February 1, 2009, as set forth in this document, and as the same may be amended
from time to time. 

  

	1.28	“Prior BMS Plan” means Bristol-Myers Squibb Key International Pension Plan, Amended and Restated as of January 1, 1995, as in effect on January 31, 2009.

  

	1.29	“Regional Pension Participant” means a Key Employee who meets the requirements of Section 2.01 of the Plan, and whose Retirement Income will be determined
under the Key Regional Pension Component described in Article IV. 

  

 4 

	1.30	“Replication Program Participant” means a Key Employee who meets the requirements of Section 2.02 of the Plan, and whose Retirement Income will be determined
under the Key International Replication Program described in Article V. 

  

	1.31	“Retirement Income” means the retirement benefits that are payable to a Participant or Designated Joint Pensioner under the Plan. 

  

	1.32	“Section 409A Participant” means a U.S. Participant who accrued benefits under the Prior BMS Plan after December 31, 2004 that are subject to the requirements
of Code section 409A. For this purpose, a benefit accrued under the Prior BMS Plan after December 31, 2004 is subject to Code section 409A as follows: 

  

	 	(a)	In the case of Regional Pension Participant or a Replication Program Participant who is a U.S. Participant because he or she is a citizen or lawful permanent resident of the United
States performing services for a Participating Employer that is a Foreign Affiliated Company, a benefit accrued during a taxable year after December 31, 2004 is subject to Code section 409A to the extent that such accrued benefit would
not have been excludable from gross income for United States tax purposes under Code section 911(a)(1) if it had been paid in the year accrued due to the fact that the amount of the accrued benefit, when added to the amount of foreign earned
income (within the meaning of Code section 911(b)(1), without regard to Code section 911(b)(1)(B)(iv)) actually excluded from such U.S. Participant’s gross income under Code section 911(b)(1) for such taxable year, would have exceeded the
maximum exclusion amount under Code section 911(b)(2)(D) for such taxable year. 

  

	 	(b)	In the case of a Supplemental Program Participant who is a U.S. Participant because he or she is a nonresident alien performing services for a Participating Employer in the United
States, a benefit accrued during a taxable year after December 31, 2004 is subject to Code section 409A to the extent that the Actuarial Equivalent lump sum value of such accrued benefit exceeds the applicable dollar amount under Code section
402(g)(1)(B) ($16,500 for 2009). 

  

	 	(c)	In the case of a Supplemental Program Participant who is a U.S. Participant because he or she is a citizen or lawful permanent resident of the United States performing services for
a Participating Employer in the United States, such U.S. Participant’s entire benefit accrued during a taxable year after December 31, 2004 is subject to Code section 409A. 

  

	1.33	“Section 409A Specified Employee” means a “specified employee”, within the meaning of Code section 409A(a)(2)(B)(i) and U.S. Treasury regulation section
1.409A-1(h), as determined annually under the Company’s administrative procedure for such determination for purposes of all plans subject to Code section 409A. 

  

	1.34	“Separation from Service” means a Section 409A Participant’s “separation from service”, within the meaning of Code section 409A(a)(2)(A)(i) and
U.S. Treasury regulation section 1.409A-1(h), from a Participating Employer. 

  

 5 

	1.35	“Social Security Amounts” means the single person’s benefits a Participant would be eligible to receive upon application under any plan or scheme of Government
Social Insurance, National Insurance or any other state-administered, public or semi-public system of retirement benefits (including U.S. Social Security) as amended and as in effect at the time of the Participant’s actual retirement or
termination of service. Such amounts will be determined on the basis of the Participant’s place of employment at the time of retirement or termination of service and will include other similar amounts that he or she is eligible to receive from
other countries, and will not thereafter be changed because either (i) the Participant changes his place of residence, (ii) the legislation under which the Social Security Amounts are payable is later amended or (iii) for any other
reason. 

  

	1.36	“Supplemental Program Participant” means a Key Employee who meets the requirements of Section 2.03 of the Plan, and whose Retirement Income will be determined
under the Key International Supplemental Program described in Article VI. 

  

	1.37	“United States” or “U.S.” means the United States of America. 

  

	1.38	“U.S. Participant” means a Participant who is either a citizen or lawful permanent resident of the United States (whether or not he or she performs services for a
Participating Employer located in the United States) or a nonresident alien of the United States who performs services in the United States for a Participating Employer. A U.S. Participant also includes a surviving spouse or Designated Joint
Pensioner of a U.S. Participant, or a surviving spouse or Designated Joint Pensioner of a non-U.S. Participant if such surviving spouse or Designated Joint Pensioner is either a citizen or lawful permanent resident of the United States.

  

	1.39	“U.S. Retirement Plan” means the Mead Johnson & Company Retirement Plan, as may be amended from time to time, or any successor thereto.

  

	1.40	“Year of Service” means each Year of Service credited under the Prior BMS Plan. Solely for purposes of determining Years of Vesting Service, a Participant’s
Early Retirement Date and “Rule of 70” treatment under Section 4.06(d), “Year of Service” shall also include each calendar year during which a Participant completes at least 1,000 hours of service with a Participating
Employer while participating in this Plan. If a Participant does not complete at least 1,000 hours of service with a Participating Employer during his last year of Plan participation, the Participant will be credited with a partial Year of Service
for each such year equal to the Participant’s actual hours of service during such year divided by 1,000. In no event will a Participant’s total Years of Service exceed 40 years. With the approval of the Committee, Years of Service may
include: 

  

	 	(a)	Periods of service with a Participating Employer and/or an affiliate of a Participating Employer prior to becoming a Participant. 

  

	 	(b)	Periods of approved leave of absence. 

  

	 	(c)	Periods of military service. 

  

	 	(d)	Periods of extended illness or Disability. 

  

 6 

	 	(e)	Such other intervals of absence as may be determined appropriate by the Committee. 

  

	1.41	“Year of Vesting Service” means all Years of Service computed in accordance with Section 1.40; except, however, all periods of service with a
Participating Employer or a subsidiary or affiliate of a Participating Employer prior to becoming a Participant in the Plan will also be taken into account. 

  

	II.	ELIGIBILITY & PARTICIPATION 

  

	2.01	Regional Pension Participants. Each Key Employee who was a Regional Pension Participant in the Prior BMS Plan on the day prior to the Effective Date will continue to be a
Regional Pension Participant in this Plan on the Effective Date. No other Key Employees will be eligible to become a Regional Pension Participant in this Plan. 

  

	2.02	Replication Program Participants. Each Key Employee who was a Replication Program Participant in the Prior BMS Plan on the day prior to the Effective Date will continue to be
a Replication Program Participant in this Plan on the Effective Date. No other Key Employees will be eligible to become a Replication Program Participant in this Plan. 

  

	2.03	Supplemental Program Participants. Each Key Employee who was a Supplemental Program Participant in the Prior BMS Plan on the day prior to the Effective Date will continue to
be a Supplemental Program Participant in this Plan on the Effective Date. No other Key Employees will be eligible to become a Supplemental Program Participant in this Plan. 

  

	2.04	Non-Duplication of Benefits. A Key Employee shall not be eligible to participate in and accrue benefits in more than one of the Key International Replication Program, Key
Regional Pension Component or Key International Supplemental Program in connection with the same Year of Service. 

  

	III.	PLAN BENEFITS 

  

	3.01	General. Benefits payable under the Plan will be the amount determined under Articles IV through VI below, as applicable. 

  

	3.02	Currency. Benefits will be calculated in United States dollars as of the time benefits become payable. The Participant (or a surviving spouse in the case of benefits under
Section 4.04) may, subject to the approval of the Committee and to any applicable legal restrictions, designate the currency in which Plan benefits payable are to be paid and the place of payment, provided that such designation is provided in
writing to the Committee for approval at least thirty (30) calendar days prior to the date benefits are scheduled to commence. In such case, the conversion or exchange rate used to convert United States dollars into the requested currency shall
be determined as of the benefit commencement date, or if the benefit commencement date is not a business day, as of the last business day immediately preceding the benefit commencement date, based on the applicable currency conversion rate published
in the Wall Street Journal on such date. Any such currency designation, if approved, will be irrevocable. If no such currency designation is made, (or such designation is made, but is not timely), Plan benefits will be paid in United States dollars
on the benefit commencement date, unless otherwise required by applicable law. 

  

 7 

	3.03	Source of Payments. All amounts payable in accordance with this Plan shall constitute a general unsecured obligation of the Company and the other Participating Employers.
Benefits payable under this Plan, as well as any administrative costs related to the Plan, shall not be funded and shall be made out of the general assets of the Company and the other Participating Employers. 

  

	IV.	KEY REGIONAL PENSION COMPONENT 

  

	4.01	Normal Retirement Benefits. 

  

	 	(a)	Normal Retirement Date - The Normal Retirement Date for a Regional Pension Participant will be the first day of the calendar month coincident with or next following his or
her 65th birthday. 

  

	 	(b)	Normal Retirement Income - Upon reaching his or her Normal Retirement Date, each Regional Pension Participant who retires will be entitled to receive monthly Retirement
Income determined as follows: 

  

	 	(i)	1.75% of the Participant’s Final Annual Salary determined under Section 1.17 of the Plan (i.e., without taking into account any salary increases occurring after the
fifth anniversary of the Effective Date) for each Year of Service credited under the Prior BMS Plan prior to the Effective Date, reduced by: 

  

	 	A)	The monthly Social Security Amounts to which the Regional Pension Participant is, or would on application be, immediately entitled to upon attainment of, and as in force on, his
Normal Retirement Date or Deferred Retirement Date, as the case may be, to the extent such Social Security Amounts are attributable to Participating Employer contributions; provided, however, that if the determination of the amount
attributable to Participating Employer contributions cannot clearly be made, then it will be assumed that 50 percent of such amount is provided by Participating Employer contributions; and 

  

	 	 B)
	 All Other Participating Employer Benefits payable monthly to the Participant; provided, however, that
(1) if such benefits are payable annually, a monthly reduction equal to 1/12th of the annual amount will be made and (2) if such benefits
are payable in one-time lump sum, a monthly reduction will be made equal to the Actuarial Equivalent of such lump sum payment, assuming such amount would be paid in the form of a single life annuity commencing at the Regional Pension
Participant’s Normal Retirement Date; and  

  

 8 

	 	C)	The Actuarial Equivalent of any Excess Severance Payments payable to the Regional Pension Participant, assuming such Excess Severance Payments would be paid in the form of a single
life annuity commencing at the Regional Pension Participant’s Normal Retirement Date. 

  

	 	(c)	For purposes of computing the reductions in Retirement Income required under clauses (A), (B) and (C) of Section 4.01(b)(i) above, any Social Security Amounts and
Other Participating Employer Benefits payable to a Regional Pension Participant in a currency other than United States dollars will be converted by the Committee to equivalent United States dollars using such conversion or exchange rate determined
in accordance with Section 3.02. No adjustment will be made in the amount of the benefit so determined because of any change in the conversion or exchange rate after the reduction under clauses (A), (B) and (C) of
Section 4.01(b)(i) is first applied with respect to the Regional Pension Participant’s Retirement Income. 

  

	4.02	Early Retirement Benefits. 

  

	 	(a)	Early Retirement Date - The Early Retirement Date for a Regional Pension Participant will be the first day of any calendar month coincident with or next following the
Regional Pension Participant’s termination of service prior to his or her Normal Retirement Date, provided that as of the date of such termination he or she has (i) completed at least ten (10) Years of Service and (ii) attained
age 55. 

  

	 	(b)	Early Retirement Income at Normal Retirement Date - A Regional Pension Participant who retires on an Early Retirement Date will be entitled to receive, commencing on his or
her Normal Retirement Date, monthly Retirement Income determined in accordance with Section 4.01 above, but based on his or her (i) Years of Service to such Early Retirement Date, (ii) Final Average Salary at such Early Retirement
Date and (iii) Social Security Amounts that would have been payable at such Normal Retirement Date, assuming he or she continued to work at his or her then current Annual Rate of Compensation until such Normal Retirement Date, as determined by
the Committee. 

  

	 	 (c)
	 Early Retirement Income Prior to Normal Retirement Date - In lieu of Retirement Income commencing on his or her
Normal Retirement Date, a Regional Pension Participant who retires on an Early Retirement Date may elect to have his or her Retirement Income commence on such Early Retirement Date, or may, at any time subsequent to such Early Retirement Date and
prior to such Normal Retirement Date, elect to have such Retirement Income commence on the first day of a month which is after receipt of such election by the Committee and prior to such Normal Retirement Date, and in either case the amount of such
Retirement Income will be determined in accordance with Section 4.02(b), subject to the reduction for early commencement described in the following sentence. Such Retirement Income will be reduced by  1/3 of 1% for each month by which the commencement of Retirement Income precedes the first day of the month 

  

 9 

	 	 
coinciding with or next following the Regional Pension Participant’s 60th birthday. Such reduction shall not apply if Retirement Income commences on or after the first day of the month coinciding with or next following the Regional Pension Participant’s 60th birthday. 

  

	4.03	Deferred Retirement Benefits. 

  

	 	(a)	Deferred Retirement Date - The Deferred Retirement Date for a Regional Pension Participant will be the first day of any calendar month coincident with or next following the
Regional Pension Participant’s termination of service after his or her Normal Retirement Date. 

  

	 	(b)	Deferred Retirement Income - A Regional Pension Participant who retires on a Deferred Retirement Date will be entitled to receive monthly Retirement Income determined in
accordance with Section 4.01 above, but based on his or her Years of Service and Final Average Salary as of such Deferred Retirement Date, provided, however, that such monthly Retirement Income shall in no event be less than the
monthly Retirement Income determined based on such Regional Pension Participant Years of Service and Final Average Salary as of his or her Normal Retirement Date. 

  

	4.04	Death Benefits. 

  

	 	 (a)
	 Death On or After Earliest Retirement Date - If a vested Regional Pension Participant dies on or after his
Earliest Retirement Date, but prior to his or her retirement and the commencement of his Retirement Income, and if he or she is survived by his or her spouse, there will be paid to and for the life of such surviving spouse, monthly benefits which
are the Actuarial Equivalent of 50% of the reduced Retirement Income which would have been payable to the Regional Pension Participant had he or she retired on the day before such death and elected to receive payment in the form of a 50% joint and
survivor annuity at the later of the date of his death or the date selected by such surviving spouse for the commencement of survivor benefits (hereinafter referred to as a “Pre-Retirement Survivor Annuity”). Payment of the
Pre-Retirement Survivor Annuity will commence on the later of (a) the first day of the month after the month in which the Regional Pension Participant’s death occurs or (b) a date selected in writing by such surviving spouse that is
not later than the date the Regional Pension Participant would have attained age 70 1/2 had he or she survived.

  

	 	(b)	 Death Before Earliest Retirement Date - If a vested Regional Pension Participant dies before his termination of employment and prior to his or her Earliest
Retirement Date, and if he or she is survived by his or her spouse, there will be paid to and for the life of such surviving spouse, monthly benefits which are the Actuarial Equivalent of 50% of the reduced Retirement Income which would have been
payable to the Regional Pension Participant had he or she terminated employment on the day before such death and elected to receive payment in the form of a 50% joint and survivor annuity at the later of such Earliest Retirement Date or the date
selected by such surviving spouse for the 

  

 10 

	 	 
commencement of survivor benefits (hereinafter referred to as a “Pre-Early Retirement Survivor Annuity”). Payment of the Pre-Early
Retirement Survivor Annuity will commence on the later of (a) the first day of the month after the month in which the Regional Pension Participant’s death occurs, (b) the first day of the month in which would have included the
Regional Pension Participant’s Earliest Retirement Date had he or she survived or (c) a date selected in writing by such surviving spouse that is not later than the date the Regional Pension Participant would have attained age 70 1/2 had he or she survived. The Pre-Early Retirement Survivor Annuity will be actuarially reduced, as necessary, to reflect the
commencement of such benefit before such Earliest Retirement Date. 

  

	4.05	Disability Benefits. 

  

	 	(a)	Amount of Benefit - An active Regional Pension Participant who, based on an independent medical review by a physician acceptable to the Committee, is deemed by the Committee
to be Disabled will be entitled to a Disability benefit under the Plan equal to 70% of such Participant’s Pay. Salary increases that would have been effective after the Disability Determination Date will not increase the Disability benefit
payable under the Plan. 

  

	 	(b)	Time and Manner of Payment - The Disability benefit will be payable monthly in lieu of regular salary or wages, commencing on the Disability Determination Date and ending on
the earlier of (a) the date the Regional Pension Participant ceases to be Disabled or (b) the first day of the month next following the Regional Pension Participant’s 65th birthday. Any Disability benefits payable under this
Section 4.05 will be reduced by the amount of (x) any Disability payments payable to the Participant under any employer-sponsored disability plan, scheme or program or under the Regional Pension Participant’s employment agreement and
(y) and statutory Disability payments or Disability benefits payable under any Governmental, state-administered, public or semi-public plan, scheme or program. 

  

	 	(c)	Prorated Payments - In the event that a Regional Pension Participant is entitled to payment of Disability benefits for only part of a month, a portion of his monthly
Disability benefit will be payable calculated as follows: 

  

	 	(i)	The amount of his monthly Disability benefit will be divided by 30 to arrive at a daily rate, and 

  

	 	(ii)	Such daily rate will then be multiplied by the number of calendar days in the month during which the Regional Pension Participant remained eligible for Disability benefits under the
Plan. 

  

	 	(d)	Recovery of Overpayments - The Plan will have the right to recover any overpayment of Disability benefits, either directly from the Regional Pension Participant or by
deduction of the amount of overpayment from such Regional Pension Participant’s future Disability benefit payments. 

  

 11 

	 	(e)	Disability Service Crediting - The period during which a Participant is receiving Disability benefits under the Plan will be taken into account in determining Years of
Service for purposes of determining Years of Vesting Service and a Regional Pension Participant’s Early Retirement Date under the Plan. 

  

	4.06	Termination of Service Prior to Earliest Retirement Date. 

  

	 	(a)	Unvested Terminated Participants. A Regional Pension Participant who terminates service with a Participating Employer for any reason, prior to the completion of five
(5) Years of Vesting Service or attainment of age 65, will not be entitled to any Plan benefits. 

  

	 	(b)	Vested Benefits at Termination. A Regional Pension Participant who terminates service with a Participating Employer for any reason other than retirement or death with five
(5) or more Years of Vesting Service is fully vested and will be entitled to receive at his or her Normal Retirement Date, if he or she is then living, a benefit calculated in accordance with the normal Retirement Income formula described in
Section 4.01(b), using for such purpose his or her Years of Service and Final Average Salary as of the date of such termination of employment, determined in accordance with Sections 1.40 and 1.17, respectively. In lieu of Retirement Income
commencing at such Normal Retirement Date, as provided in this Section 4.06(b), a Regional Pension Participant may elect, in accordance with Section 4.06(c) to receive earlier payment of such Retirement Income. In no event may payment of
the Retirement Income to a terminated vested Regional Pension Participant commence later than the Regional Pension Participant’s Normal Retirement Date, and any such election that designates a payment commencement date later than such
terminated vested Regional Pension Participant’s Normal Retirement Date will be void and without effect. 

  

	 	(c)	Election to Commence Retirement Income Prior to Normal Retirement Date - A vested Regional Pension Participant who terminates service for any reason other than retirement or
death may elect to have his Retirement Income commence on the first day of a designated month following receipt of such election by the Committee, which month is after his 55th birthday and prior to his Normal Retirement Date, in which case such
Retirement Income will be equal to the amount determined in accordance with Section 4.06(b), but will be reduced by such actuarial factors as are prescribed by Table A of the U.S. Retirement Plan to reflect the commencement of Retirement Income
prior to such Regional Pension Participant’s Normal Retirement Date. Such actuarial factors will result in a greater reduction of the Regional Pension Participant’s Retirement Income under these circumstances than the factors that would
have been used to calculate any Retirement Income commencing before his Normal Retirement Date had he or she retired on his Early Retirement Date. 

  

	 	(d)	 Rule of 70 - A Regional Pension Participant who: (i) was a regular full-time employee of a Participating Employer and experienced an involuntary
termination of service from the Participating Employer, (ii) had completed at least ten (10)

  

 12 

	 	 
Years of Service as of the date of such involuntary termination of employment and whose age plus Years of Service (rounded to the next highest whole number)
as of such date equaled or exceeded 70; (iii) is eligible for severance benefits under a plan or program of a Participating Employer on account of such involuntary termination of employment and (iv) has timely executed a general release in
a form satisfactory to the Committee, may commence his or her Retirement Income as early as the first day of the month immediately following such termination date to the extent the Regional Pension Participant has satisfied the preceding conditions.
If the commencement date of Retirement Income is on or after the Regional Pension Participant’s attainment of age 55, the amount of such Regional Pension Participant’s Retirement Income will be determined in accordance with
Section 4.02(b) or Section 4.02(c), as the case may be. A Regional Pension Participant’s Retirement Income that commences prior to his or her attainment of age 55 will be reduced by 20%, plus an additional reduction of 6% per
year for the first five years that such Regional Pension Participant’s age at commencement precedes age 55, and 4% per year thereafter. 

  

	4.07	Payment of Retirement Income. 

  

	 	(a)	Normal Form. Except in situations where the Plan provides that Retirement Income will be paid in the form of a lump sum, all benefits payable under this Plan will be paid in
equal monthly installments at the beginning of each month. Unless an optional form of payment is elected in accordance with Section 4.07(b), the Retirement Income of a Regional Pension Participant will be payable as follows:

  

	 	(i)	If he or she is not married at the time such Retirement Income commences, he or she will be paid his full monthly Retirement Income for life, and such Retirement Income will
terminate immediately after the payment of the installment for the month in which he or she dies. 

  

	 	(ii)	If he or she is married at the time such Retirement Income commences, such Retirement Income will be paid in the form of a 50% joint and survivor annuity, as described in
Section 4.07(b)(ii), with his or her spouse as the Designated Joint Pensioner, and such Retirement Income will terminate after the payment of the installment for the month in which the Regional Pension Participant’s spouse dies;
except, however, that if the spouse predeceases the Regional Pension Participant, the Retirement Income will terminate immediately after the payment of the installment for the month in which the Regional Pension Participant dies.

  

	 	(b)	Optional Forms of Payment. In lieu of the normal forms of payment that apply to Retirement Income under Section 4.07(a), a Regional Pension Participant may elect,
subject to Section 4.07(c), to receive the Actuarial Equivalent of his or her Retirement Income in accordance with one of the following optional forms: 

  

	 	(i)	Option 1 – Single Life Annuity - An unreduced monthly Retirement Income for the Participant’s life, with no amounts payable to the Regional Pension
Participant’s spouse or any other Designated Joint Pensioner upon his or her death. 

  

 13 

	 	(ii)	Option 2 – Joint and Survivor Annuity - An actuarially reduced monthly Retirement Income for the Regional Pension Participant’s life and upon his death the
Designated Joint Pensioner will continue to be paid a reduced monthly Retirement Income for his or her life in an amount elected by the Regional Pension Participant equal to either 50%, 75% or 100% of the Regional Pension Participant’s reduced
monthly Retirement Income. Such Retirement Income will terminate immediately after the payment of the installment for the month in which the Designated Joint Pensioner dies; except, however, that if the Designated Joint Pensioner
predeceases the Regional Pension Participant, the Retirement Income will terminate immediately after the payment of the installment for the month in which the Regional Pension Participant dies. If the Designated Joint Pensioner dies before the
commencement of reduced Retirement Income payment to the Regional Pension Participant, the election of the joint and survivor annuity option will be null and void. 

  

	 	(iii)	Option 3 – 10 or 15 Year Period Certain - An actuarially reduced monthly Retirement Income payable for the Regional Pension Participant’s life and, in the event of
his or her death within a period of either 120 or 180 months (as elected by the Regional Pension Participant) after the date such Retirement Income commenced, the same monthly amount will continue to be paid to the Participant’s Designated
Joint Pensioner for the balance of the 120 or 180-month period. This option is available only if the period elected does not exceed the life expectancy of the Regional Pension Participant or the joint life expectancies of the Regional Pension
Participant and the Designated Joint Pensioner. 

  

	 	(iv)	Option 4 – Lump Sum - A single lump sum payment that is the Actuarial Equivalent of the normal form of Retirement Income described in Section 4.07(a).

  

	 	(v)	Option 5 – Partial Lump Sum - A single lump sum payment in an amount elected by the Regional Pension Participant that is the Actuarial Equivalent of either 25%, 50% or
75% of the normal form of Retirement Income described in Section 4.07(a), with the balance paid in such normal form of payment. 

  

	 	(vi)	Other Payment Options - To the extent administratively feasible, the Committee may, in its discretion, authorize other optional forms of payment under the Plan that are
consistent with the optional forms of payment that may be available under the U.S. Retirement Plan from time to time; provided, however, that any such other optional form of payment authorized by the Committee is the Actuarial
Equivalent of the normal form of Retirement Income described in Section 4.07(a). 

  

 14 

	 	(c)	Conditions of Election. The Committee, in its sole and absolute discretion, may approve or deny any application for an optional form of payment of Retirement Income (which
application must be properly executed and filed with the Committee no less than sixty (60) days prior to the Retirement Income commencement date) and to formulate rules with respect to the election of, and payments under, any such optional form
of payment. In the event a Regional Pension Participant who is married at the time of election wants to select an optional form of payment under Section 4.07(b) or the Regional Pension Participant wants to name someone other than his or her
spouse as the Designated Joint Pensioner, the spouse must consent in writing to such optional form of payment or alternate Designated Joint Pensioner on such form and in such manner that is satisfactory to the Committee. Such consent must be
notarized or witnessed by a Plan representative. 

  

	 	(d)	Mandatory Cash-Out of Small Benefits - Any other provision of this Section 4.07 to the contrary notwithstanding, if upon a vested Regional Pension Participant’s
termination of service for any reason, the Actuarial Equivalent lump sum value of the Retirement Income to which the Regional Pension Participant will be entitled under the Plan as of the date of such termination of service is not more than $25,000,
such Retirement Income will be paid in a single lump sum payment as soon as administratively practicable following such termination of service. 

  

	V.	KEY INTERNATIONAL REPLICATION PROGRAM 

  

	5.01	Purpose. The purpose of the Key International Replication Program is to replicate closely as legally and administratively practicable the retirement benefits that a
Replication Program Participant would have been entitled to receive under his or her Home Country Plan had he or she continued to be eligible to participant in such Home Country Plan while employed with his or her Participating Employer.

  

	5.02	Home Country Plans. The applicable provisions of the respective Home Country Plan of each Replication Program Participant are incorporated herein and are a part of this
Article V. 

  

	5.03	Retirement Date. A Replication Program Participant will be entitled to retire and commence payments of Retirement Income under the Plan at the same time that he or she would
have been entitled to retire and commence benefits under his Home Country Plan had he or she continued to participate in such plan, and had service with BMS while a participant in the Prior BMS Plan and his Participating Employer while a Participant
in this Plan counted as service under the Home Country Plan. 

  

	5.04	Retirement Income. The Retirement Income each Replication Program Participant will be entitled to receive under the Plan on any retirement date permitted under his Home
Country Plan will be determined as follows: 

  

	 	(a)	The benefit that the Replication Program Participant would have been entitled to receive on such retirement date under the benefit formula of his Home Country Plan, computed as if
had he or she continued to participate in such Home Country Plan through such retirement date, and treating (i) service with BMS prior to the Effective Date, without regard to any service with his or her Participating Employer after the
Effective Date while a Participant in this Plan, as service under the Home Country Plan and (ii) earnings from BMS while a participant in the Prior BMS Plan and from his or her Participating Employer while a Participant in this Plan, without
regard to any such earnings occurring after the fifth anniversary of the Effective Date, as earnings under the Home Country Plan, reduced by 

  

 15 

	 	(b)	The actual benefit, if any, that the Replication Program Participant is entitled to receive on such retirement date from such Home Country Plan. 

  

	5.05	Vested Benefits. A Replication Program Participant will vest in his Retirement Income under this Plan at the same time that he or she would have become entitled to a vested
benefit under his or her Home Country Plan had his or her Years of Vesting Service under this Plan counted as vesting service under such Home Country Plan. 

  

	5.06	Other Benefits. All other benefits (including, without limitation, death, disability or termination benefits) that would have been payable to a Replication Program
Participant or his beneficiary under his or her Home Country Plan had he or she continued to participate in such Home Country Plan while employed by a Participating Employer will be provided to such Replication Program Participant or his beneficiary
under this Plan at such time and in such amounts as would had been provided under his Home Country Plan; provided, however, that any such benefits provided under this Plan will be offset by the amount, if any, of such benefits the
Replication Program Participant or beneficiary is actually entitled to receive under the Home Country Plan. 

  

	5.07	Payment of Benefits. Retirement Income and other benefits payable to a Replication Program Participant under this Plan will be paid at the same time and in the same form of
payment, and subject to the same restrictions, conditions and limitations, as provided in his or her Home Country Plan 

  

	5.08	Tax Treatment. To the extent that any provision of this Article V incorporates, or has the effect of replicating, any provision of a Home Country Plan, only the benefit
design features of such provision will be incorporated or replicated herein, and not the tax treatment applicable to the accrual or distributions of such benefit under the Home Country Plan. 

  

	VI.	KEY INTERNATIONAL SUPPLEMENTAL PROGRAM 

  

	6.01	Purpose. The purpose of the Key International Supplemental Program is to supplement a Supplemental Program Participants frozen retirement benefit under his or her Home
Country Plan by providing a benefit under this Plan that applies Final Average Salary increases while employed with a Participating Employer through the five-year anniversary of the Effective Date to the benefit formula used to determine his or her
retirement benefit under his Home Country Plan. 

  

 16 

	6.02	Home Country Plans. The applicable provisions of the respective Home Country Plan, of each Supplemental Program Participant are incorporated herein and are a part of this
Article VI. 

  

	6.03	Retirement Income. The Retirement Income each Supplemental Program Participant will be entitled to receive under the Plan on his or her benefit commencement date will be
determined as follows: 

  

	 	(a)	The benefit that the Supplemental Program Participant would be entitled to receive on such benefit commencement date under the benefit formula of his or her Home Country Plan, based
on actual service credited under such Home Country Plan and his or her Final Average Salary as determined under Section 1.17 of this Plan (i.e., without taking into account any salary increases occurring after the fifth anniversary of
the Effective Date), reduced by 

  

	 	(b)	The actual benefit, if any, that the Supplemental Program Participant is entitled to receive on such benefit commencement date from such Home Country Plan, based on actual service
and earnings credited under such Home Country Plan. 

  

	6.04	Vested Benefits. A Supplemental Program Participant will vest in his Retirement Income under this Plan at the same time that he or she would have become entitled to a vested
benefit under his or her Home Country Plan had his or her Years of Vesting Service under this Plan counted as vesting service under such Home Country Plan. 

  

	6.05	Payment of Benefits. Retirement Income payable to a Supplemental Program Participant under this Plan will be paid at the same time and in the same form of payment, and
subject to the same restrictions, conditions and limitations, as provided in his Home Country Plan. 

  

	6.06	Tax Treatment. To the extent that any provision of this Article VI incorporates, or has the effect of replicating, any provision of a Home Country Plan, only the benefit
design features of such provision will be incorporated or replicated herein, and not the tax treatment applicable to the accrual or distributions of such benefit under the Home Country Plan. 

  

	VII.	SPECIAL PROVISIONS APPLICABLE TO SECTION 409A PARTICIPANTS AND OTHER U.S. PARTICIPANTS 

  

	7.01	Participants Covered. The provisions of this Article VII modify certain provisions of the Plan and, unless a particular provision specifies that it applies with respect to
Section 409A Participants only, such provision (as modified) will apply with respect to all U.S. Participants. Except as otherwise specifically modified herein, a U.S. Participant’s rights and entitlements with respect to benefits under
the Plan will be determined in accordance with the applicable provisions of Plan. 

  

 17 

	7.02	Death Benefits. To the extent that the surviving spouse of a Section 409A Participant is eligible to receive death benefits under Section 4.04, the following
modifications to Section 4.04 will apply for purposes of determining when payment of such death benefits will commence: 

  

	 	(a)	Pre-Retirement Survivor Annuity - If such surviving spouse is entitled to receive a Pre-Retirement Survivor Annuity under Section 4.04(a), payment of such Pre-Retirement
Survivor Annuity will commence on the first day of the month after the month in which the Section 409A Participant’s death occurs. 

  

	 	(b)	Pre-Early Retirement Survivor Annuity - If such surviving spouse is entitled to receive a Pre-Early Retirement Survivor Annuity under Section 4.04(b), payment of such
Pre-Early Retirement Survivor Annuity will commence on the later of (i) the first day of the month after the month in which the Section 409A Participant’s death occurs and (ii) the first day of the month in which the
Section 409A Participant would have attained his Earliest Retirement Date had he or she survived. 

  

	7.03	Payment of Retirement Income. Subject to paragraphs (c) and (d) of this Section 7.03, in the case of a Section 409A Participant whose Separation from
Service occurs after the Effective Date, the Retirement Income payable to such Section 409A Participant under the Plan will be paid at the time and in the form of payment set out in paragraph (a) below, unless the Section 409A
Participant timely elects an alternate time and/or form of payment in accordance with paragraph (b) below. 

  

	 	(a)	Default Time and Form of Payment - 

  

	 	(i)	Benefit Payment Date - A Section 409A Participant will paid (or commence payment of) his Retirement Income on or about the first day of the month following the month in
which his Separation from Service occurs; except, however, that if his or her Separation from Service occurs prior to his or her Earliest Retirement Date, payment will be made (or commence) on or about the first day of the month
following such Earliest Retirement Date. 

  

	 	(ii)	Normal Form of Payment - The normal form of payment for a Section 409A Participant will be an Actuarial Equivalent lump sum payment. 

  

	 	(b)	Payment Elections - The Committee may, but is not required to, permit a Section 409A Participant to elect, in lieu of the time and form of payment set out in paragraph
(a) above, to be paid (or commence payment of) his or her Retirement Income at a different specified date following his or her Separation from Service and/or to receive such Retirement Income in any of the forms of payment available under his
or her Home Country Plan or Section 4.07 of this Plan; provided, however, that any such payment elections, if permitted by the Committee, will be subject the following conditions and limitations: 

  

	 	 (i)
	 Such election must be in writing (on a form acceptable to the Committee) and, except as provided in clause
(ii) below, must have been received by the Committee no later than the 30th day following the date that the Section 409A Participant was
first selected to participate in the Prior BMS Plan; and 

  

 18 

	 	(ii)	Any such election to change either the time or form of payment that is made after the 30-day initial election period described in clause (i) of the sub-Section 7(b) will
be subject to the following additional conditions and limitations: 

  

	 	A)	The election must be received by the Committee no later than 12 months prior to the benefit payment date set out in the Section 409A Participant’s most recent payment
election (or if no payment elections have been made, as set out in clause (i) of paragraph (a) above); 

  

	 	B)	The election will not be valid and effective until 12 months after it is received by the Committee; and 

  

	 	C)	The election must provide for a benefit payment date that is at least five (5) years later than the benefit payment date set out in the Section 409A Participant’s
most recent payment election (or if no payment elections have been made, as set out in clause (i) of paragraph (a) above). 

  

	 	(c)	Mandatory Cash Out of Small Benefits - Notwithstanding Section 4.07(d) or any payment elections made under this Section 7.03, but subject to paragraph
(d) below, if, upon a Section 409A Participant’s Separation from Service, the Actuarial Equivalent lump sum value of his or her vested Retirement Income is less than the applicable dollar amount under Code section 402(g)(1)(B)
($16,500 for 2009), such Retirement Income will be paid in a single lump sum payment as soon as administratively practicable following such Separation from Service. 

  

	 	(d)	 Payment Delay for Section 409A Specified Employees - Any provision of the Plan to the contrary notwithstanding, in the event that the Committee
determines that a Section 409A Participant is a Section 409A Specified Employee as of the date of his or her Separation from Service, the Committee shall withhold payment of any Retirement Income that is payable to such Section 409A
Specified Employee on account of such Separation from Service until the first day of the seventh month following such Separation from Service (the “Delayed Payment Date”). In the event such Retirement Income is payable in the form
of monthly installments pursuant to a valid payment election made by such Section 409A Specified Employee in accordance with paragraph (b) of this Section 7.03, the Committee will accumulate the first six monthly installments of such
Retirement Income until the Delayed Payment Date. The withheld payments will be paid to the Section 409A Specified Employee in a single lump sum payment on the Delayed Payment Date, with interest for 

  

 19 

	 	 
the period of delay, compounded monthly, equal to the interest rate used under the U.S. Retirement Plan to determined lump sum equivalencies. Notwithstanding
the foregoing, if the Section 409A Specified Employee dies prior to the Delayed Payment Date, any payments that have been withheld and accumulated in accordance with this paragraph shall be paid to his or her Designated Joint Pensioner or
beneficiary, as the case may be, in a single lump sum payment as soon as administratively feasible following such death, with interest as calculated above. 

  

	7.04	Legal Status. The provisions of this Article VII are intended to comply with the applicable requirements of Code section 409A and should be interpreted and administered to
the fullest extent possible in a manner consistent with such intent. To the extent that the provision of retirement benefits to any U.S. Participants hereunder would cause any part of the Plan to become subject to the requirements of ERISA, the part
of the Plan that provides such benefits to U.S. Participants is intended to constitute a separate “top-hat plan” that is unfunded and maintained by the Company primarily for purposes of providing deferred compensation for a select group of
management or highly compensated employees, within the meaning of ERISA sections 201(2), 301(a)(3) and 401(a)(1). 

  

	VIII.	AMENDMENT AND TERMINATION 

  

	8.01	Amendment. The Committee may amend the Plan at any time and from time to time; provided, however, that any such amendment that would result in either a material
change in the cost of operating the Plan or a material modification in the terms and provisions of the Plan must be approved by the Board. Notwithstanding the forgoing, no amendment or modification to the Plan will be effective unless the Plan, as
so amended or modified, will be for the exclusive benefit of Participants and their Designated Joint Pensioners, and no such amendment or modification will directly or indirectly deprive a Participant or Designated Joint Pensioner of any benefit
accrued prior to the date of such amendment. The Committee may designate any of its members, or delegate to an appropriate officer of the Company, the authority to make any technical changes or any other changes to the Plan, including retroactive
amendments, that may be necessary for the Plan to comply with applicable law or governmental regulations. 

  

	8.02	Termination. The Board reserves the right to terminate the Plan, in whole or in part, for any reason and at any time. 

  

	IX.	THE COMMITTEE 

  

	9.01	Membership. The Plan will be administered by the Committee, which will consist of such number of persons, not less than three, who will be appointed and may be removed by the
Board. Any Committee member may resign by delivering his written resignation to the Committee and the Board, and such resignations shall become effective upon delivery or, if later, upon the date specified therein. 

  

 20 

	9.02	Committee Powers. The Committee will have all powers necessary to administer the Plan in accordance with its terms and provisions. Without limiting the generality of the
foregoing, the Committee shall have the following discretionary authority and responsibilities in addition to those provided elsewhere in the Plan: 

  

	 	(a)	to grant or deny claims for benefits under the Plan; 

  

	 	(b)	to require any person to furnish such information as it may request for the purpose of the proper administration of the Plan as a condition to receiving any benefit under the Plan;

  

	 	(c)	to make and enforce such rules and regulations for the administration of the Plan consistent with the provisions thereof and prescribe the use of such forms as it shall deem
necessary for the efficient administration of the Plan; 

  

	 	(d)	to interpret and construe the provisions of the Plan, and to resolve ambiguities, inconsistencies and omissions therein; 

  

	 	(e)	to decide such questions as may arise in connection with the operation of the Plan including, but not limited to, questions concerning the eligibility of any Key Employee to
participate in or receive benefits under the Plan; and 

  

	 	(f)	to determine the amount of benefits that will be payable to any person in accordance with the provisions of the Plan and to authorize payment of such benefits.

  

	9.03	Committee Actions. The Committee will act by a majority of its members at a meeting or in writing without a meeting. Any construction, interpretation or application of the
Plan by the Committee will be final, conclusive and binding on all persons except as otherwise provided by law. 

  

	9.04	Delegation. The Committee may, in its discretion, designate individual members of the Committee or persons other than members of the Committee to perform routine acts, sign
documents on its behalf and carry out such other responsibilities of the Committee under the Plan as it may see fit, including, but not limited to, the determination of questions concerning the eligibility of any Key Employee to participate in or
receive benefits under the Plan, the interpretation and construction of the provisions of the Plan, the resolution of ambiguities, inconsistencies and omissions therein, and the resolution of any claim for benefits under the Plan. The Committee may
also employ such actuaries, accountants, legal counsel who may be of counsel of a Participating Employer, other specialists and other persons as the Committee deems necessary or desirable in connection with the administration of the Plan, and the
Committee and any person to whom it may delegate any duty or power in connection with the administration of the Plan, each Participating Employer and the officers and directors thereof shall be entitled to rely conclusively upon and shall be fully
protected in any action omitted, taken or suffered by them in good faith in reliance upon any actuary, accountant, counsel or other specialist or other person selected by the Committee or in reliance upon any tables, evaluations, certificates,
opinions or reports which shall be furnished by any of them. 

  

 21 

	9.05	Limitation of Liability. No member of the Committee will be personally liable for the acts or omissions of any other member or for his own acts or omissions as a member of
the Committee unless his own acts or omissions constitute willful misconduct. 

  

	X.	MISCELLANEOUS PROVISIONS 

  

	10.01	Alienation of Benefits Prohibited. The benefits provided hereunder are intended for the personal security of persons entitled to payments under the Plan. Except as otherwise
required by law, Plan benefits cannot be anticipated, sold, assigned or pledged in any way, whether voluntarily, or involuntarily; however, the Company reserves the right to offset against any benefit such amount as may be necessary to satisfy debts
owed by the Participant to the Company or any other Participating Employer. 

  

	10.02	No Employment Rights Granted. The Plan will not confer upon any Participant any right of employment and no provisions of the Plan will interfere with the right of any
Participating Employer to discharge a Participant before his Earliest Retirement Date or retire any Participant after his Normal Retirement Date. 

  

	10.03	No Additional Rights. No rights under this Plan will vest in any Participant or beneficiary and no benefits will be payable hereunder, except as provided specifically herein.

  

	10.04	Incapacity. If any person entitled to receive payments under the Plan is a minor or is physically or mentally incapable of receiving or acknowledging receipt of such
payments, any payment due such person will be paid to his guardian or other legal representative. If no guardian or other legal representative has been appointed, the Committee may arrange to have any such payment made to such person’s parent
or to any person or organization taking care of him or, in the case of a minor, to deposit the amount of such payment in a savings account in the minor’s name, payable to him at majority. The Company will have no further responsibility as to
funds so paid or deposited. 

  

	10.05	Missing Payees. If any benefit hereunder has been payable and unclaimed for four years since the whereabouts or continued existence of the person entitled thereto was last
known to the Committee, such benefit will be forfeited. In the event the missing payee is subsequently located, the previously forfeited benefit will be restored. 

  

	10.06	Correction of Errors. If an error is made in a benefit computation under the Plan, the benefit amount will be adjusted to correct the error. Any overpayments made to a
Participant or Designated Joint Pensioner in error must be returned to the Company. Overpayments can be deducted from, and underpayments can be added to, future payments due under the Plan. A Participant or Designated Joint Pensioner may also repay
an overpayment in a lump sum. 

  

	10.07	Jurisdiction. This Plan will be construed, regulated, administered and enforced according to the laws of the State of New York, without regard to its conflict of law
provisions, to the extent such laws are not superseded by the applicable law of the jurisdiction in which a Participating Employer is located. 

  

 22 

	10.08	Invalidity. If any provision or portion of this Plan is held to be invalid or unenforceable, such invalidity or unenforceability will not affect the balance of the Plan. The
Plan will be construed and enforced as if such provision had not been included; provided, however, this Plan will be reformed only to the extent necessary to comply with applicable law. 

  

	10.09	Number and Gender. As used in the Plan, the singular number includes the plural number and the masculine gender includes the feminine gender unless the context in which it is
used in the Plan requires otherwise. 

  

	10.10	Headings. The headings used in the Articles, Sections and paragraphs of the Plan are for convenience only and are not intended to control or affect the meaning or
construction of any of the Plan’s provisions. 

  

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