Document:

Form of 2007 Market Share Units Agreement

 Exhibit 10dd. 

 

 

 FORM OF MARKET SHARE UNITS AGREEMENT 
 UNDER THE BRISTOL-MYERS SQUIBB COMPANY 
 2007 STOCK AWARD AND
INCENTIVE PLAN 
 BRISTOL-MYERS SQUIBB COMPANY, a Delaware corporation (the “Company”), has granted to you the Market
Share Units (“MSUs”) specified in the Grant Summary above, which is incorporated into this Market Share Units Agreement (the “Agreement”) and deemed to be a part hereof. The MSUs have been granted to you under Sections 6(i) and 7
of the 2007 Stock Award and Incentive Plan (the “Plan”), on the terms and conditions specified in the Grant Summary and this Agreement. 
  

	1.	MARKET SHARE UNITS AWARD 

 The Compensation and Management Development Committee of the Board of Directors of Bristol-Myers Squibb Company (the “Committee”) has granted to you on the Award Date an Award of MSUs as designated herein subject to the terms,
conditions, and restrictions set forth in this Agreement and the Plan. Each MSU shall represent the conditional right to receive, upon settlement of the MSU, one share of Bristol-Myers Squibb Common Stock (“Common Stock”) (subject to any
tax withholding as described in Section 4). MSUs include the right to receive dividend equivalents as specified in Section 5 (“Dividend Equivalents”). The purpose of such Award is to motivate and retain you as an employee of the
Company or a subsidiary of the Company, to encourage you to continue to give your best efforts for the Company’s future success, to increase your proprietary interest in the Company, and to further align your compensation with the interests of
the Company’s shareholders. Except as may be required by law, you are not required to make any payment (other than payments for taxes pursuant to Section 4 hereof) or provide any consideration other than the rendering of future services to
the Company or a subsidiary of the Company. 
  

	2.	RESTRICTIONS, FORFEITURES, AND SETTLEMENT 

 Except as otherwise provided in this Section 2, MSUs shall be subject to the restrictions and conditions set forth herein during the Restricted Period (as defined below). Vesting of the MSUs is
conditioned upon you remaining continuously employed by the Company or a subsidiary of the Company following the Award Date until the relevant Vesting Date, subject to the provisions of this Section 2. In addition, for purposes of vesting, the
MSU grant shall be divided into four tranches, each of which shall include 25% of the number of MSUs specified in the Grant Summary above and any additional MSUs and/or cash that results from Dividend Equivalents that are attributable to the MSUs in
that tranche. 
 Assuming satisfaction of such employment conditions, the MSUs shall vest only if the Share Price (as defined
below) on the applicable Vesting Date equals at least 60% of the Share Price on the Award Date.

  

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If this threshold condition is satisfied, MSUs shall vest to the extent provided in the following schedule: 
  

									
	 (A)
 Tranche
	  	 (B)
 MSUs in
 Tranche
	  	 (C)
 Vesting Date
	  	 (D)
 Payout Factor
	  	 (E)
 Number of MSUs
 Vested

					
	1	  	25% of Total	  	1st Anniversary of Award Date	  	Share Price on Vesting Date divided by Share Price on Award Date	  	MSUs in Tranche (Column B) times Payout Factor (Column D)
					
	2	  	25% of Total	  	2nd Anniversary of Award Date	  	Share Price on Vesting Date divided by Share Price on Award Date	  	MSUs in Tranche (Column B) times Payout Factor (Column D)
					
	3	  	25% of Total	  	3rd Anniversary of Award Date	  	Share Price on Vesting Date divided by Share Price on Award Date	  	MSUs in Tranche (Column B) times Payout Factor (Column D)
					
	4	  	25% of Total	  	4th Anniversary of Award Date	  	Share Price on Vesting Date divided by Share Price on Award Date	  	MSUs in Tranche (Column B) times Payout Factor (Column D)

 For purposes of the table set forth above— 
  

	 	(A)	“Share Price” shall equal the average of the closing share price of the Company’s Common Stock on the Vesting Date or Award Date, as applicable, and the
nine trading days immediately preceding the Vesting Date or Award Date. If there were no trades on the Vesting Date or Award Date, the closing price on most recent date on which there were trades and the nine trading days immediately preceding that
date shall be used. 

  

	 	(B)	“Payout Factor” shall be rounded to the nearest hundredth (two places after the decimal), except that if the “Payout Factor” equals more than 2.00,
the Payout Factor used in Column E shall be 2.00. Notwithstanding the formula in the table, the Payout Factor for any Vesting Date that occurs on or after a Change in Control (as defined in the Plan) shall equal the Share Price on the Change in
Control Date divided by the Share Price on the Award Date. 

 Any MSUs that fail to vest, either because the
employment condition is not satisfied or because the Payout Factor on the applicable Vesting Date is less than 60% shall be forfeited, subject to the special provisions set forth in paragraphs (c) through (g) of this Section 2.

  

	 	(a)	Nontransferability. During the Restricted Period and any further period prior to settlement of your MSUs, you may not sell, transfer, pledge or assign any of the
MSUs or your rights relating thereto. 

  

	 	(b)	 Time of Settlement. MSUs shall be settled promptly upon expiration of the Restricted Period without forfeiture of the MSUs (i.e., upon vesting)
by delivery of one share of Common Stock for each MSU being settled; provided, however, that settlement of an MSU shall be subject to Plan Section 11(k), including, if applicable, the six-month delay rule in Plan Section 11(k)(i)(C) to the
extent the MSUs are subject to Section 409A of the

  

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Code, payment is on account of your “separation from service” and you are a “key employee,” both within the meaning of Section 409A. (Note: This rule may apply to any
portion of the MSUs that vests after the time you become Retirement eligible under the Plan, and could apply in other cases as well). Settlement of MSUs which directly or indirectly result from non-cash Dividend Equivalents on MSUs or
adjustments to MSUs shall occur at the time of settlement of the granted MSUs. Until shares are delivered to you in settlement of MSUs, you shall have none of the rights of a stockholder of the Company with respect to the shares issuable in
settlement of the MSUs, including the right to vote the shares and receive actual dividends and other distributions on the underlying shares of Common Stock (you are entitled to Dividend Equivalents, however). Shares of stock issuable in settlement
of MSUs shall be delivered to you upon settlement in certificated form or in such other manner as the Company may reasonably determine. 

  

	 	(c)	 Retirement. In the event of your Retirement (as that term is defined in section 2(v)(i) of the Plan) at or after your 65th birthday and prior to the end of the Restricted Period, the
continuous employment requirement shall be eliminated and you shall vest in and be entitled to settlement of (i.e., the Restricted Period shall expire with respect to) any MSUs that have not previously been vested or forfeited, provided that you
have been continuously employed by the Company for at least one year following the Award Date and your employment has not been terminated by the Company for misconduct or other conduct deemed detrimental to the interests of the Company. Any MSU that
vests on your Retirement Date shall vest based on the Payout Factor determined by substituting your Retirement date (or the date of a Change in Control, if a Change in Control has occurred before your Retirement) for the Vesting Date.

  

	 	(d)	 Early Retirement; Termination not for Misconduct/Detrimental Conduct. This paragraph 2(d) shall apply in the event of (1) your Retirement
(as that term is defined in section 2(v)(ii) or 2(v)(iii) of the Plan) (A) at or after age 55 with at least 10 years of service or (B) after attaining eligibility for the “Rule of 70” or (2) the termination of your
employment by the Company for reasons other than misconduct or other conduct deemed detrimental to the interests of the Company (and you are not eligible for Retirement). If one of the events described in the preceding sentence occurs before the end
of the Restricted Period, the continuous employment requirement shall be eliminated and you shall vest in and be entitled to settlement of (i.e., the Restricted Period shall expire with respect to) a proportionate number of the MSUs that would
otherwise have vested on the Vesting Date that next follows the date on which the event occurs, provided that you have been continuously employed by the Company for at least one year following the Award Date and your employment has not been
terminated by the Company for misconduct or other conduct deemed detrimental to the interests of the Company. Any MSU that vests on your early Retirement or termination date shall vest based on the Payout Factor determined by substituting your
Retirement or termination date (or the date of a Change in Control, if a Change in Control has occurred before your early Retirement or termination) for the Vesting Date. If you are employed in the United States (including in Puerto Rico), you shall
be entitled to the pro rata vesting described in the preceding sentence only if you execute and do not revoke a release in favor of the Company and its predecessors, successors, affiliates, subsidiaries, directors and employees in a form
satisfactory to the Company and, where deemed applicable by the Company, a non-compete and/or a non-solicitation agreement; if you fail to execute or revoke the release or fail to execute the non-compete or non-solicitation agreement, you shall
forfeit any MSUs that are unvested as of the date your employment terminates. The formula for determining the proportionate number of your MSUs to become vested and non-forfeitable

  

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upon your early Retirement or involuntary termination not for misconduct or other detrimental conduct is available by request from the Office of the Corporate Secretary at 345 Park Avenue, New
York, New York 10154. 

  

	 	(e)	Death. In the event of your death during the Restricted Period, the continuous employment requirement shall be eliminated and your estate shall vest in and be
entitled to settlement of (i.e., the Restricted Period shall expire with respect to) a proportionate number of the MSUs that would otherwise have vested, provided that you have been continuously employed by the Company for at least one year
following the Award Date. Any MSU that vests on your death shall vest based on the Payout Factor determined by substituting your date of death (or the date of a Change in Control, if a Change in Control has occurred before your death) for the
Vesting Date. The formula for determining the proportionate number of your MSUs to become vested and non-forfeitable upon your death is available by request from the Office of the Corporate Secretary at 345 Park Avenue, New York, New York 10154. In
the event of your death prior to the delivery of shares in settlement of MSUs (not previously forfeited), shares in settlement of your MSUs shall be delivered to your estate, upon presentation to the Committee of letters testamentary or other
documentation satisfactory to the Committee, and your estate shall succeed to any other rights provided hereunder in the event of your death. 

  

	 	(f)	Disability. In the event you become Disabled (as that term is defined below), for the period during which you continue to be deemed to be employed by the Company
or a subsidiary (i.e., the period during which you receive Disability benefits), you will not be deemed to have terminated employment for purposes of the MSUs. Upon the termination of your receipt of Disability benefits, (i) you will not be
deemed to have terminated employment if you return to employment status, and (ii), if you do not return to employment status, you will be deemed to have terminated employment at the date of cessation of payments to you under all disability pay plans
of the Company and its subsidiaries, with such termination treated for purposes of the MSUs as a Retirement, death, or voluntary termination based on your circumstances at the time of such termination. For purposes of this Agreement,
“Disability” or “Disabled” shall mean qualifying for and receiving payments under a disability plan of the Company or any subsidiary or affiliate either in the United States or in a jurisdiction outside of the United States, and
in jurisdictions outside of the United States shall also include qualifying for and receiving payments under a mandatory or universal disability plan or program managed or maintained by the government. 

  

	 	(g)	Qualifying Termination Following Change in Control. In the event your employment is terminated by reason of a Qualifying Termination (as defined in the Plan)
during the three- (3) year period following a Change in Control (as defined in the Plan), the continuous employment requirement shall be eliminated and you shall vest in and be entitled to settlement of (i.e., the Restricted Period shall expire
with respect to) any MSUs that have not previously been forfeited. Any MSU that vests following a Qualifying Termination during the three- (3) year period following a Change in Control shall vest based on the Payout Factor determined by
substituting the Change in Control Date for the Vesting Date. 

  

	 	(h)	Other Termination of Employment. In the event of your voluntary termination, or termination by the Company for misconduct or other conduct deemed by the Company
to be detrimental to the interests of the Company, you shall forfeit all unvested MSUs on the date of termination. 

  

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	 	(i)	Other Terms. 

  

	 	(i)	In the event that you fail promptly to pay or make satisfactory arrangements as to the withholding taxes as provided in Section 4, all MSUs then subject to
restriction shall be forfeited by you and shall be deemed to be reacquired by the Company. 

  

	 	(ii)	You may, at any time prior to the expiration of the Restricted Period, waive all rights with respect to all or some of the MSUs by delivering to the Company a written
notice of such waiver. 

  

	 	(iii)	Termination of employment includes any event if immediately thereafter you are no longer an employee of the Company or any subsidiary of the Company, subject to
Section 2(i) hereof. References in this Section 2 to employment by the Company include employment by a subsidiary of the Company. Termination of employment means an event after which you are no longer employed by the Company or any
subsidiary of the Company. Such an event could include the disposition of a subsidiary or business unit by the Company or a subsidiary. 

  

	 	(iv)	Upon any termination of your employment, any MSUs as to which the Restricted Period has not expired at or before such termination shall be forfeited, subject to
Section 2(c)-(g). Other provisions of this Agreement notwithstanding, in no event will an MSU that has been forfeited thereafter vest or be settled. 

  

	 	(j)	The following events shall not be deemed a termination of employment: 

  

	 	(i)	A transfer of you from the Company to a subsidiary, or vice versa, or from one subsidiary to another; 

  

	 	(ii)	A leave of absence, duly authorized in writing by the Company, for military service or sickness or for any other purpose approved by the Company if the period of such
leave does not exceed ninety (90) days; and 

  

	 	(iii)	A leave of absence in excess of ninety (90) days, duly authorized in writing, by the Company, provided your right to reemployment is guaranteed either by a statute
or by contract. 

 However, failure of you to return to active service with the Company or a subsidiary at the end
of an approved leave of absence shall be deemed a termination of employment. During a leave of absence as defined in (ii) or (iii), although you will be considered to have been continuously employed by the Company or a subsidiary and not to
have had a termination of employment under this Section 2, the Committee may specify that such leave period shall not be counted in determining the period of employment for purposes of the vesting of the MSUs. In such case, the vesting dates
for unvested MSUs shall be extended by the length of any such leave of absence. 
  

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

 You acknowledge that your continued employment with the Company and the grant of MSUs is sufficient consideration for this Agreement,
including, without limitation, the restrictions imposed upon you by this Section 3. 
  

	 	(a)	By accepting the MSUs, you expressly agree and covenant that during the Restricted Period (as defined below) and the Non-Competition and Non-Solicitation Period (as
defined below), you shall not, without the prior consent of the Company, directly or indirectly: 

  

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

  

	 	(ii)	be actively connected with a Competitive Business by managing, operating, controlling, being an employee or consultant (or accepting an offer to be an employee or
consultant) or otherwise advising or assisting a Competitive Business in such a way that such connection might result in an increase in value or worth of any product, technology or service, that competes with any product, technology or service upon
which you worked or about which you became familiar as a result of your employment with the Company. You may, however, be actively connected with a Competitive Business after your employment with the Company terminates for any reason, so long as
your connection to the business does not involve any product, technology or service, that competes with any product, technology or service upon which you worked or about which you became familiar as a result of your employment with the Company and
the Company is provided written assurances of this fact from the Competing Company prior to your beginning such connection. 

  

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

  

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

  

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

  

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

  

	 	(vii)	 engage in any activity that is harmful to the interests of the Company, including, without limitation, any conduct during the term of your employment
that violates

  

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the Company’s Standards of Business Conduct and Ethics, securities trading policy and other policies. 

  

	 	(b)	Forfeiture. If the Committee determines that you have violated any provisions of Section 3(a) above during the Restricted Period or the Non-Competition and
Non-Solicitation Period, then you agree and covenant that: 

  

	 	(i)	any unvested portion of the MSUs shall be immediately rescinded; 

  

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

  

	 	(iii)	if any part of the MSUs vests within the twelve-month period immediately preceding a violation of Section 3(a) above (or following the date of any such violation),
upon the Company’s demand, you shall immediately deliver to it a certificate or certificates for shares of the Company’s Common Stock that you acquired upon settlement of such MSUs (or an equivalent number of other shares).

  

	 	(c)	Definitions. For purposes of this Agreement, the following definitions shall apply: 

  

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

  

	 	(ii)	“Non-Competition and Non-Solicitation Period” means the period during which you are employed by the Company and twelve months following the date that you
cease to be employed by the Company for any reason whatsoever. 

  

	 	(iii)	“Restricted Period” means, with respect to each MSU, the period from the Award Date until the date such MSU has become vested and non-forfeitable
(i.e., the Vesting Date). 

  

	 	(d)	Severability. You acknowledge and agree that the period, scope and geographic areas of restriction imposed upon you by the provisions of Section 3 are fair
and reasonable and are reasonably required for the protection of the Company. In the event that all or any part of this Section 3 is held to be unenforceable or invalid, the remaining parts of Section 3 and this Agreement shall
nevertheless continue to be valid and enforceable as though the invalid portions were not a part of this Agreement. If any one of the provisions in Section 3 is held to be excessively broad as to period, scope and geographic areas, any such
provision shall be construed by limiting it to the extent necessary to be enforceable under applicable law. 

  

	 	(e)	 Additional Remedies. You acknowledge that breach by you of this Agreement would cause irreparable harm to the Company and that in the event of
such breach, the Company shall have, in addition to monetary damages and other remedies at law, the

  

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right to an injunction, specific performance and other equitable relief to prevent violations of your obligations hereunder. 

  

	4.	TAXES 

 At such time as
the Company is required to withhold taxes with respect to the MSUs, or at an earlier date as determined by the Company, you shall make remittance to the Company of an amount sufficient to cover such taxes or make such other arrangement regarding
payments of such taxes as are satisfactory to the Committee. The Company and its subsidiaries shall, to the extent permitted by law, have the right to deduct such amount from any payment of any kind otherwise due to you, including by means of
mandatory withholding of shares deliverable in settlement of your MSUs to satisfy the mandatory tax withholding requirements. Prior to settlement of the MSUs, the Dividend Equivalents payable to you will be compensation (wages) for tax purposes and
will be included on your W-2 form. The Company will be required to withhold applicable taxes on such Dividend Equivalents. The Company may deduct such taxes either from the gross Dividend Equivalents payable on such MSUs or from any other cash
payments to be made to or on account of you or may require you to make prompt remittance to the Company of such tax amounts. Any cash payment to you under Section 5 of the Agreement will be included in your W-2 form as compensation and subject
to applicable tax withholding. 
  

	5.	DIVIDEND EQUIVALENTS AND ADJUSTMENTS 

  

	 	(a)	Dividend Equivalents shall be paid or credited on MSUs (other than MSUs that, at the relevant record date, previously have been settled or forfeited) as follows, except
that the Committee may specify an alternative treatment from that specified in (i), (ii), or (iii) below for any dividend or distribution: 

  

	 	(i)	Cash Dividends. If the Company declares and pays a dividend or distribution on Common Stock in the form of cash, then you shall be entitled to a cash payment
amount equal to (A) the amount of such dividend on each outstanding share of Common Stock, multiplied by (B) the number of MSUs credited to you as of the record date for such dividend or distribution (other than previously settled or
forfeited MSUs), multiplied by (C) the Payout Factor that applies to the MSU with respect to which the cash dividend is being paid. Any cash payment made under this section shall be paid on the settlement date for the underlying MSU.

  

	 	(ii)	Non-Share Dividends. If the Company declares and pays a dividend or distribution on Common Stock in the form of property other than shares, then a number of
additional MSUs shall be credited to you as of the payment date for such dividend or distribution equal to (A) the number of MSUs credited to you as of the record date for such dividend or distribution (other than previously settled or
forfeited MSUs), multiplied by (B) the Fair Market Value of such property actually paid as a dividend or distribution on each outstanding share of Common Stock at such payment date, divided by (C) the Fair Market Value of a share at such
payment date. Any MSUs payable under this section shall be settled on the settlement date for the underlying MSU and shall be subject to the Payout Factor that applies to the underlying MSU. 

  

	 	(iii)	 Common Stock Dividends and Splits. If the Company declares and pays a dividend or distribution on Common Stock in the form of additional shares,
or there occurs a forward split of Common Stock, then a number of additional MSUs

  

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shall be credited to you as of the payment date for such dividend or distribution or forward split equal to (A) the number of MSUs credited to you as of the record date for such dividend or
distribution or split (other than previously settled or forfeited MSUs), multiplied by (B) the number of additional shares actually paid as a dividend or distribution or issued in such split in respect of each outstanding share of Common Stock.
Any MSUs payable under this section shall be settled on the settlement date for the underlying MSU and shall be subject to the Payout Factor that applies to the underlying MSU. 

  

	 	(b)	The number of your MSUs and other related terms shall be appropriately adjusted, in order to prevent dilution or enlargement of your rights with respect to MSUs, to
reflect any changes in the outstanding shares of Common Stock resulting from any event referred to in Section 11(c) of the Plan or any other “equity restructuring” as defined in FAS 123R, taking into account any MSUs credited to you
in connection with such event under Section 5(a). 

  

	6.	EFFECT ON OTHER BENEFITS 

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

	7.	RIGHT TO CONTINUED EMPLOYMENT 

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

	8.	ADMINISTRATION; UNFUNDED OBLIGATIONS 

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

	9.	AMENDMENT 

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

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	10.	SEVERABILITY AND VALIDITY 

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

	11.	GOVERNING LAW 

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

	12.	SUCCESSORS 

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

	13.	DATA PRIVACY 

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

	14.	ENTIRE AGREEMENT AND NO ORAL MODIFICATION OR WAIVER 

 This Agreement contains the entire understanding of the parties. This Agreement shall not be modified or amended except in writing duly signed by the parties, except that the Company may adopt a
modification or amendment to the Agreement that is not materially adverse to you in writing signed only by the Company. Any waiver of any right or failure to perform under this Agreement shall be in writing signed by the party granting the waiver
and shall not be deemed a waiver of any subsequent failure to perform. 
  

			
		 	Bristol-Myers Squibb Company
	By	 	  

 I
have read this Agreement in its entirety. I understand that this Award has been granted to provide a means for me to acquire and/or expand an ownership position in Bristol-Myers Squibb Company, and it is expected that I will retain the stock I
receive upon the vesting of this award consistent with the Company’s share retention guidelines. I acknowledge and agree that sales of shares will be subject to the Company’s policy regulating trading by employees. In accepting this Award,
I hereby agree that Smith Barney, or such other vendor as the Company may choose to administer the Plan, may

  

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provide the Company with any and all account information necessary to monitor my compliance with the Company’s Share Retention Policy and other applicable policies. 
 I hereby agree to all the terms, restrictions and conditions set forth in the Agreement. 
  

 E-10-2Bristol-Myers Squibb Company 1987 Deferred Compensation Plan

 Exhibit 10tt. 
 BRISTOL-MYERS SQUIBB COMPANY 
 1987
DEFERRED COMPENSATION PLAN 
 FOR NON-EMPLOYEE DIRECTORS 
 AMENDED EFFECTIVE DECEMBER 17, 2009 
 Section 1.      Effective Date. 
 The effective date of this Bristol-Myers Squibb Company 1987 Deferred Compensation Plan for Non-Employee Directors (the “Plan”) is January 20, 1987, except the provisions of Section 12 are effective as of January 1,
2005. 
 Section 2.      Eligibility. 
 Any Director of Bristol-Myers Squibb Company (the “Company”) who is not an officer or employee of the Company or a subsidiary
thereof is eligible to participate in the Plan. 
 Section 3.      Deferred
Compensation Account. 
 There shall be established on the books of the Company for each participant a deferred compensation
account in the participant’s name. At the time a participant commences participation in the Plan, he or she shall elect to have the amounts deferred under Section 4 credited to his or her account among the notional investments described
below. In accordance with the procedures set forth by the Corporate Secretary’s Office of the Company, (i) a participant may elect to change the allocation of future deferrals among the notional investments, and (ii) during the
deferral period, a participant may reallocate amounts previously deferred among the notional investments. 
  

	 	(a)	Treasury Units. The amount credited to a participant’s deferred compensation account as Treasury Units shall be credited with interest at a rate equal to
six-month United States Treasury bill yield for the end of the calendar quarter. 

  

	 	(b)	Dollar Units. The amount credited to a participant’s deferred compensation account as Dollar Units shall be credited with interest at a rate that is equal
to the Company’s weighted average return on cash investment during the current calendar quarter. 

  

	 	(c)	Share Units. 

  

	 	i.	The amount credited to a participant’s deferred compensation account as Share Units shall be credited in shares of the Company’s common stock equal to the
number of shares of the Company’s common stock which could have been purchased with the amounts deferred determined by dividing the dollar value of the amounts deferred by the Fair Market Value of a share of the Company’s common stock on
the effective date of such deferral. 

  

	 	ii.	Upon payment by the Company of dividends on its common stock, additional Share Units shall be credited to a participant’s deferred compensation account equal to
the number of Share Units in the participant’s account as of the record date multiplied by the amount paid per share in such dividend or distribution divided by the Fair Market Value of a share of common stock at the payment date of such
dividend. For purposes of this Plan, “Fair Market Value” shall mean the average of the high and low sale prices of a share of the company’s common stock on the New York Stock Exchange composite tape on the date of measurement or, if
there were no trades on such date, on the day on which a trade occurred last preceding such date. 

  

 E-10-3 

	 	iii.	The amount of Share Units in a participant’s deferred compensation account shall be adjusted to take into account a merger, consolidation, reorganization,
recapitalization, stock split, other change in corporate structure or capitalization affecting the Company’s common stock, or other equity restructuring (as that term is used in Statement of Financial Accounting Standards No. 123R), with
such adjustment to preserve without enlarging the rights of a participant with respect to such Share Units. The manner of such adjustment shall be in the discretion of the Corporate Secretary’s Office of the Company. 

 

	 	iv.	Except as provided in Section 6(b) below, Share Units credited before December 17, 2009 are settleable solely in cash, and are referred to herein as
“Cash-Settled Share Units,” and Share Units credited on or after December 17, 2009 (and converted Share Units, as provided in Section 6(b) below) are settleable solely by delivery of whole shares of Common Stock, and are referred
to herein as “Stock-Settled Share Units.” 

 Section 4.      Participant Deferrals. 
  

	 	(a)	Mandatory Deferrals. The Board of Directors shall determine the number of Share Units payable, as of February 1 of each year, to the participant in payment
for membership and service on the Board of Directors. A new member of the Board of Directors who is eligible to participate in the Plan shall receive, on the date the Director joins the Board, a pro-rata number of Share Units based on the number of
Share Units payable to participants as of the prior February 1. For this purpose, the prorata portion shall be determined in accordance with the procedures set forth by the Corporate Secretary’s Office of the Company. Such Share Units
shall be deferred and credited to such participant’s deferred compensation account pursuant to Section 3. In addition, twenty-five (25) percent of the retainer fee payable to the participant for membership on the Board of Directors
shall be deferred and credited to such participant’s deferred compensation account as Share Units until the end of the earliest calendar year at which the participant has met a guideline level of Share Unit or Company common stock ownership as
determined by the Board of Directors and then in effect. 

  

	 	(b)	Elective Deferrals. A participant may elect, by filing the appropriate form pursuant to Section 8, to defer receipt for any calendar year of either
(1) all of the compensation payable to the participant for serving on the Board of Directors and any committee thereof, (2) only the retainer fee payable to the participant for service on the board of directors, or (3) any percentage,
equal to or exceeding twenty-five percent of the compensation payable to the participant specified in clause (1) hereof. 

  

	 	(c)	Discretionary Deferrals. The Board of Directors may, in its sole discretion, provide additional compensation to eligible directors in the form of Share Units,
with such Share Units being deferred and credited to the participant’s deferred compensation account pursuant to Section 3. 

 Section 5.      Period of Deferral. 
 A participant may elect to defer receipt of compensation either (1) until a specified year in the future, but in no event more than five years after termination of service, (2) until the cessation of the participant’s service
as a Director or (3) until the end of the calendar year in which the cessation of the participant’s service as a Director occurs. If alternative (1) is elected, payment will be made or will commence on February 1 of the year
specified; if alternative (2) is elected, payment will be made or will commence on the date that is sixty days after the cessation of the participant’s service as a director; and if alternative (3) is elected, payment will be made or
will commence on February 1 after the end of the calendar year in which the cessation of the participant’s service as a Director occurs. Installment payments under the Plan will be made on the anniversary of the applicable

  

 E-10-3 

 
commencement date. If any payment date specified under the Plan is not a business day, the payment will be made on the first business day thereafter. For purposes of this Plan, cessation of
service as a Director means a “separation from service” as defined in Treasury Regulation § 1.409A-1(h). 
 Section 6.      Form of Payment. 
 (a) Lump-Sum or
Installments. A participant may elect to receive distributions of the deferred compensation under the Plan in either (1) a lump sum or (2) a number of installments, not more than ten, as specified by the participant. If installment
payments are elected, the amount of each installment shall be equal to the balance in the participant’s deferred compensation account divided by the number of installments remaining to be paid (including the installment in question). Elections
under this Section 6(a) shall be made by the applicable deadline under Section 8, except as otherwise permitted under Section 12. 
 (b) Settlement in Cash or Shares. Cash-Settled Share Units and other deferrals, but not Stock-Settled Share Units, will be settled in cash. Stock-Settled Share Units will be settled by delivery of
one share of Common Stock for each whole Share Unit being settled. The Corporate Secretary may agree with a participant to convert Cash-Settled Share Units into Stock-Settled Share Units at a date designated by the Secretary for such conversion, if
the participant previously has filed an election to make such conversion as to all of the Participant’s then outstanding Cash-Settled Share Units. Until the conversion date, the Company shall be under no obligation to make such conversion, and
the Corporate Secretary shall retain discretion not to accept participants’ offers to convert the Cash-Settled Share Units to Stock-Settled Share Units. Upon conversion, the Share Units will be settleable solely by delivery of shares of Common
Stock, and the participant shall have no right to a cash settlement of the Share Units (except as may be provided in connection with an adjustment under Section 3(c)(iii) or cash in lieu of a fractional share). Stock-Settled Share Units will be
deemed to be Stock Units granted under Section 6(e) of the 2007 Stock Award and Incentive Plan (“2007 SAIP”), and this Plan shall be deemed a sub-plan under the 2007 SAIP (or any successor plan to the 2007 SAIP then in effect) such
that shares issued in settlement of those Stock-Settled Share Units will be drawn from the 2007 SAIP (or such successor Plan). For any settlement of Cash-Settled Share Units, the dollar value of the Cash-Settled Share Units shall be determined by
multiplying the number of such Share Units credited to a participant’s deferred compensation account on the date of such settlement by the Fair Market Value on such date. 
 Section 7.      Death of Participant. 
 A participant may elect that, in the event he or she dies prior to receipt of any or all of the amounts payable pursuant
to this Plan, any amounts remaining in the participant’s deferred compensation account shall be paid to the participant’s estate in either (1) a lump sum paid on the 60th day following the participant’s death or (2) a number of annual installments, not more than ten, as
specified by the participant. If alternative (2) is elected and payment to the participant pursuant to clause (2) of Section 6 has not commenced prior to death, the initial installment payment hereunder shall be made sixty days after
the participant’s death, with subsequent installment payments on the anniversary of the commencement date, and the amount of each such installment shall be determined as provided in the last sentence of Section 6. If alternative
(2) is elected and payment to the participant pursuant to clause (2) of Section 6 had commenced prior to death, the installment payments to the participant’s estate shall be made at the same time and in the same amount as such
payments would have been made to the participant had he or she survived. For purposes of this Section 7, the dollar value of Cash-Settled Share Units (but not Stock-Settled Share Units) shall be determined by multiplying the number of Share
Units credited to a participant’s deferred compensation account on the date of his death by the Fair Market Value on such date. Any election permitted under this Section 7 must be made prior to the year of deferral, except that

  

 E-10-3 

 
an election may be made not later than December 31, 2008 to the extent permitted under applicable rules under Section 409A of the Internal Revenue Code of 1986 (the “Code”).

 Section 8.      Time of Election of Deferral. 
 An election to defer compensation may be made by (i) a first-time nominee for election as a Director prior to his/her election for the
remainder of the calendar year in which he/she is being elected (except that a person newly elected a Director by the Board of Directors may make an election to defer compensation within 30 days after his/her election as a Director, in which event
such election to defer compensation shall be effective only with respect to compensation paid for services performed after the election to defer compensation is made) and (ii) a person then currently serving as a Director for the next
succeeding calendar year no later than the preceding December 31. This election will be deemed to be an election to defer compensation under this Plan for each succeeding calendar year, unless (1) the participant elects, in accordance with
Section 11, to discontinue the deferral, (2) the Board of Directors discontinues the Plan in accordance with Code Section 409A, or (3) the election is stated, in writing, to apply only to the first calendar year applicable under
(i) or (ii) above. 
 Section 9       Status of Previous
Deferrals. 
 Any deferral election made under the Bristol-Myers Squibb Company Amended and Restated Deferred Compensation
Plan for Non-Employee Directors (the “Prior Plan”), and the resulting deferrals, shall be subject to and governed by the terms of the Prior Plan. 
 Section 10.    Manner of Electing Deferral. 
 A participant may elect to defer compensation by giving written notice to the Corporate Secretary’s Office of the Company on a form provided by the Company, which notice shall include the amount to be deferred, the form in which the
amount deferred is to be credited, the period of deferral, and the form of payment (including the number of installments, if any). 
 Section 11.    Effect of Election. 
 An election to defer
compensation, including the form of deferral, shall be irrevocable by the participant once the calendar year to which it applies has commenced. An election may be discontinued or modified by the participant with respect to calendar years not yet
begun by notifying the Corporate Secretary’s Office of the Company in writing no later than December 31st
 of the preceding year. The following default rules will apply if no valid election is on file specifying the matter or the intent of the participant with respect to the matter is not clearly
indicated in the applicable election that is on file; 
  

	 	(i)	The default allocation of deferred amounts will be as Dollar Units under Section 3(b); 

  

	 	(ii)	The default period of deferral under Section 5 will be until the cessation of the participant’s service as a Director; 

  

	 	(iii)	The default form of payment under Section 6 will be a lump sum; and 

  

	 	(iv)	 The default distribution payable upon the death of participant will be as a lump sum paid on the 60th day following the participant’s death. 

  

 E-10-3 

 Section 12.    Further Election. 
 The participant shall have the one-time right with regard to funds previously deferred to elect a further deferral of the payment of such
funds by delivering to the Corporate Secretary’s Office a written statement in a form provided by the Company specifying the further period of deferral and the form of payment, including the number of installments, if any, subject to the
following rules: 
  

	 	(i)	Any such election may not take effect until at least 12 months after the date on which the election is made; 

  

	 	(ii)	If any such election relates to payments that are subject to alternatives under Section 5, the first payment with respect to such election shall be made not
earlier than five years after the date payment would have been made absent the further deferral election under this Section 12; and 

  

	 	(iii)	Any such election relating to a payment subject to alternative (1) under Section 5 shall not be effective if made fewer than 12 months before the date of the
first scheduled payment (including the earliest of a series of installment payments). 

 The foregoing
notwithstanding, and subject to any rules or limitations that may be imposed by the Corporate Secretary’s Office of the Company, (a) deferrals and redeferrals may be permitted by the Corporate Secretary’s Office of the Company in
accordance with the rules set forth on Exhibit A, and (b) a participant may make an election in the period 2005 through 2008 to change the timing of any payment previously elected by the participant (except that such election may not apply to a
payment scheduled to be made in the year of the election and may not result in a distribution scheduled for a later year to be made in the year of election), and subject to the rules under Code Section 409A (including Proposed Treasury
Regulation §1.409A, Preamble §XI.C., and Question and Answer 19(c) of IRS Notice 2005-1). 
 Section 13.    Participant’s Rights Unsecured. 
 The right of any
Participant to receive future payments under the provisions of the Plan shall be an unsecured claim against the general assets of the Company. 
 Section 14.    Statement of Account. 
 A
statement will be sent to each participant each year as to the value of his/her deferred compensation account as of the end of the preceding year. 
 Section 15.    Assignability. 
 No right to
receive payments hereunder shall be transferable or assignable by a participant, except by will or under the laws of descent and distribution, or subject to anticipation, alienation, sale, pledge, encumbrance, attachment, or garnishment by creditors
of the participant or the participant’s beneficiary. 
 Section 16.    Administration. 
 This Plan will be administered by the Corporate
Secretary’s Office of the Company, which shall have the authority to adopt rules and regulations to carry out the Plan and to interpret, construe and implement the provisions of the Plan; to resolve questions arising in the administration of
the Plan; and to adopt such rules and procedures as it may deem advisable for the administration of the Plan. 
  

 E-10-3 

 Section 17.    Amendment. 
 This Plan may at any time or from time to time be amended, modified or terminated by the Board of Directors. No amendment, modification or
termination shall, without the consent of the participant, adversely affect such participant’s accruals in his/her deferred compensation account as of the date of amendment, modification or termination. 
 Section 18.    Compliance with Code Section 409A. 
 Other provisions of this Plan notwithstanding, deferrals under this Plan shall comply with the requirements under the Code, including without
limitation Code Section 409A, and Treasury Regulations (including any applicable guidance thereunder) as presently in effect or hereafter implemented: (i) If the timing of any payment under this Plan would result in a participant’s
constructive receipt of income prior to such payment, the payment will be the earliest date after the specified payment date that distribution can be effected without resulting in such constructive receipt; (ii) the Company shall have no
authority to accelerate any payment hereunder except as permitted under Section 409A and regulations thereunder; and (iii) any rights of the participant or retained authority of the Company with respect to deferrals hereunder shall be
automatically modified and limited to the extent necessary so that a participant will not be deemed to be in constructive receipt of income relating to the deferrals prior to the payment to ensure that the participant shall not be subject to any
penalty under Code Section 409A. In the event that a participant has become “key employee” (as defined in Code Section 416(i) without regard to paragraph (5) thereof) and any of the Company’s stock is publicly traded on
an established securities market or otherwise, a distribution under the Plan triggered by a separation from service (within the meaning of Treasury Regulation § 1.409A-1(h)) and which would be within six months after such separation shall
instead occur at the expiration of the six-month period under Section 409A(a)(2)(B)(i). In the case of installments, this delay shall not affect the timing of any installment otherwise payable after the six-month delay period. 
  

 E-10-3 

 Exhibit A 
 Deferral Election Rules 
 If a participant in a plan, program or other
compensatory arrangement (a “plan”) of Bristol-Myers Squibb Company (the “Company”) is permitted to elect to defer awards or other compensation, any such election relating to compensation deferred under the applicable plan must
be received by the Company prior to the date specified by or at the direction of the administrator of such plan (the “Administrator”). For purposes of compliance with Section 409A of the Internal Revenue Code (the “Code”),
any such election to defer shall be subject to the rules set forth below, subject to any additional restrictions as may be specified by the Administrator. Under no circumstances may a participant elect to defer compensation to which he or she has
attained, at the time of deferral, a legally enforceable right to current receipt of such compensation. 
  

	 	(1)	Initial Deferral Elections. Any initial election to defer compensation (including the election as to the type and amount of compensation to be deferred and the
time and manner of settlement of the deferral) must be made (and shall be irrevocable) no later than December 31 of the year before the participant’s services are performed which will result in the earning of the compensation, except as
follows: 

  

	 	•	 	 Initial deferral elections with respect to compensation that, absent the election, constitutes a short-term deferral may be made in accordance with
Treasury Regulation § 1.409A-2(a)(4) and (b); 

  

	 	•	 	 Initial deferral elections with respect to compensation that remains subject to a requirement that the participant provide services for at least 12
months (a “forfeitable right” under Treasury Regulation § 1.409A-2(a)(5)) may be made on or before the 30th day after the participant obtains the legally binding right to the compensation, provided that the election is made at
least 12 months before the earliest date at which the forfeiture condition could lapse and otherwise in compliance with Treasury Regulation § 1.409A-2(a)(5); 

  

	 	•	 	 Initial deferral elections by a participant in his or her first year of eligibility may be made within 30 days after the date the participant becomes
eligible to participate in the applicable plan, with respect to compensation paid for services to be performed after the election and in compliance with Treasury Regulation § 1.409A-2(a)((7); 

  

	 	•	 	 Initial deferral elections by a participant with respect to performance-based compensation (as defined under Treasury Regulation
§ 1.409A-1(e)) may be made on or before the date that is six months before the end of the performance period, provided that (i) the participant continuously served as a director from either the beginning of the performance period or
the later date on which the performance goal was established, (ii) the election to defer is made before such compensation has become readily ascertainable (i.e., substantially certain to be paid), (iii) the performance period is at least
12 months in length and the performance goal was established no later than 90 days after the commencement of the service period to which the performance goal relates, (iv) the performance-based compensation is not payable in the absence of
performance except due to death, disability, a 409A Ownership/Control Change (as defined in Section 11(k) of the 2007 Stock Award and Incentive Plan) or as otherwise permitted under Treasury Regulation § 1.409A-1(e), and (v) this
initial deferral election must in any event comply with Treasury Regulation § 1.409A-2(a)(8); 

  

	 	•	 	 Initial deferral elections resulting in Company matching contributions may be made in compliance with Treasury Regulation § 1.409A-2(a)(9);

  

 i 

	 	•	 	 Initial deferral elections may be made to the fullest permitted under other applicable provisions of Treasury Regulation § 1.409A-2(a); and

  

	 	(2)	Further Deferral Elections. The foregoing notwithstanding, for any election to further defer an amount that is deemed to be a deferral of compensation subject to
Code Section 409A (to the extent permitted under Company plans, programs and arrangements), any further deferral election made under the plan shall be subject to the following, provided that deferral elections in 2007 and 2008 may be made under
applicable transition rules under Section 409A: 

  

	 	•	 	 The further deferral election will not take effect until at least 12 months after the date on which the election is made; 

 

	 	•	 	 If the election relates to a distribution event other than a Disability (as defined in Treasury Regulation § 1.409A-3(i)(4)), death, or
Unforeseeable Emergency (as defined in Treasury Regulation § 1.409A-3(i)(3)), the payment with respect to which such election is made must be deferred for a period of not less than five years from the date such payment would otherwise have
been paid (or in the case of a life annuity or installment payments treated as a single payment, five years from the date the first amount was scheduled to be paid), to the extent required under Treasury Regulation § 1.409A-2(b);

  

	 	•	 	 The requirement that the further deferral election be made at least 12 months before the original deferral amount would be first payable may not be
waived by the Administrator, and shall apply to a payment at a specified time or pursuant to a fixed schedule (and in the case of a life annuity or installment payments treated as a single payment, 12 months before the date that the first amount was
scheduled to be paid); 

  

	 	•	 	 The further deferral election shall be irrevocable when filed with the Company; and 

  

	 	•	 	 The further deferral election otherwise shall comply with the applicable requirements of Treasury Regulation § 1.409A-2(b).

  

	 	(3)	Transition Rules. Initial deferral elections and elections to change any existing deferred date for distribution of compensation in any transition period
designated under Department of the Treasury and IRS regulations may be permitted by the Company to the fullest extent authorized under transition rules and other applicable guidance under Code Section 409A (including transition rules in effect
in the period 2005 – 2008). 

  

 ii

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