Document:

Prepared by R.R. Donnelley Financial -- Bristol-Myers Squibb Company 2002 Stock Incentive

 Exhibit 10b 
  
 BRISTOL-MYERS SQUIBB COMPANY 
 2002 STOCK INCENTIVE PLAN 
 (As Amended and Restated as of July 16, 2002) 
  
 1.  Purpose:    The purpose of the 2002 Stock Incentive Plan is to secure for the Company and its stockholders the benefits of the incentive inherent in common stock ownership by the officers and
key employees of the Company and its Subsidiaries and Affiliates who will be largely responsible for the Company’s future growth and continued financial success and by providing long-term incentives in addition to current compensation to
certain key executives of the Company and its Subsidiaries and Affiliates who contribute significantly to the long-term performance and growth of the Company and such Subsidiaries and Affiliates. It is intended that the former purpose will be
effected through the granting of stock options, stock appreciation rights, dividend equivalents and/or restricted stock under the Plan and that the latter purpose will be effected through an award conditionally granting performance units or
performance shares under the Plan, either independently or in conjunction with and related to a nonqualified stock option grant under the Plan. 
  
 2.  Definitions:    For purposes of this Plan: 
  
 (a)  “Affiliate” shall mean any entity in which the Company has an ownership interest of at least 20%. 
  
 (b)  “Code” shall mean the Internal Revenue Code of 1986, as amended. 
  
 (c)  “Common Stock” shall mean the Company’s common stock (par value $.10 per share). 
  
 (d)  “Company” shall mean the Issuer (the Bristol-Myers Squibb Company), its Subsidiaries and
Affiliates. 
  
 (e)  “Disability” or “Disabled” shall mean qualifying
for and receiving payments under a disability pay plan of the Company or any Subsidiary or Affiliate. 
  
 (f)  “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 
  
 (g)  “Fair Market Value” shall mean the average of the high and low sale prices of a share of Common Stock on the New York Stock Exchange, Inc. composite tape on the date of measurement or on any date as
determined by the Committee and if there were no trades on such date, on the day on which a trade occurred next preceding such date. 
  
 (h)  “Issuer” shall mean the Bristol-Myers Squibb Company. 
  
 (i)  “Prior Plan” shall mean the Bristol-Myers Squibb Company 1997 Stock Option Plan as amended and restated effective as of July 16, 2002. 
  
 (j)  “Retirement” shall mean termination of the employment of an employee with the Company or a
Subsidiary or Affiliate on or after (i) the employee’s 65th birthday or (ii) the employee’s 55th birthday if the employee has completed 10 years of service with the Company, its Subsidiaries and/or its Affiliates. For purposes of this
Section 2(j) and all other purposes of this Plan, Retirement shall also mean termination of employment of an employee with the Company or a Subsidiary or Affiliate for any reason (other than the employee’s death, disability, resignation,
willful misconduct or activity deemed detrimental to the interests of the Company) where, on termination, (iii) the 
 

 E-2-1 

 employee’s age plus years of service (rounded up to the next higher whole number) equals at least 70 and the
employee has completed 10 years of service with the Company, its Subsidiaries and/or its Affiliates, provided the Optionee executes a general release agreement and where applicable, a non-solicitation and/or non-compete agreement with the Company or
(iv) the employee is at least 50 years of age and the employee has completed 10 years of service with the Company, its Subsidiaries and/or its Affiliates provided the Optionee, executes a general release agreement and, where applicable, a
non-solicitation and/or non-compete agreement with the Company. This section 2(j)(iv) shall expire on January 31, 2003. 
  
 Furthermore, an employee who makes an election to retire under Article 19 of the Bristol-Myers Squibb Company Retirement Income Plan (the “Retirement Income Plan”) shall have any additional years of age and service
which are credited under Article 19 of the Retirement Income Plan taken into account when determining such employee’s age and service under this Section 2(j). Such election shall be deemed a Retirement for purposes of this Section 2(j) and all
other purposes of this Plan. 
  
 (k)  “Subsidiary” shall mean any corporation
which at the time qualifies as a subsidiary of the Company under the definition of “subsidiary corporation” in Section 424 of the Code. 
  
 3.  Amount of Stock:    The amount of stock which may be made subject to grants of options or awards of performance units under the Plan in calendar year 2002 shall
not exceed an amount equal to the amount of shares available for, and not made subject to, grants of options or awards under the Prior Plan as of the day before the effective date of this plan. With respect to each succeeding year, the amount of
stock which may be made subject to grants of options or awards of performance units under the Plan shall not exceed an amount equal to (i) 0.9% of the outstanding shares of the Company’s Common Stock on January 1 of such year plus, subject to
this Section 3, (ii) in any year the number of shares equal to the amount of shares that were available for grants and awards in the prior year but were not made subject to a grant or award in such prior year, (iii) the number of shares that were
subject to options or awards granted hereunder or under the Prior Plan, which options or awards terminated, were cancelled or forfeited or expired in the prior year without being exercised, or were forfeited and returned to the Company after
exercise (iv) the number of shares participants tendered in the prior year to pay the purchase price of options in accordance with Section 6(b)(5), and (v) the number of shares the Company retained or caused participants to surrender in the prior
year to satisfy Withholding Tax requirements in accordance with Section 11. No individual may be granted options or awards under Sections 6, 7 or 8 in the aggregate, in respect of more than 3,000,000 shares of the Company’s Common Stock in a
calendar year, subject to adjustment in number and kind pursuant to Section 10. Aggregate shares issued under performance share and performance unit awards made pursuant to Section 7 and restricted stock awards made pursuant to Section 8
may not exceed 20,000,000 shares over the life of the Plan, subject to adjustment in number and kind pursuant to Section 10. Common Stock issued hereunder may be authorized and reissued shares or issued shares acquired by the Company or its
Subsidiaries on the market or otherwise. 
  
 4.  Administration:    The Plan
shall be administered under the supervision of the Board of Directors of the Company which shall exercise its powers, to the extent herein provided, through the agency of a Compensation and Management Development Committee (the
“Committee”) which shall be appointed by the Board of Directors of the Company. The Committee shall consist of not less than three (3) members of the Board who meet the definition of “outside director” under the provisions of
Section 162(m) of the Code and the definition of “non-employee directors” under the provisions of the Exchange Act or rules or regulations promulgated thereunder. 
  
 The Committee, from time to time, may adopt rules and regulations (“Regulations”) for carrying out the provisions and purposes of the Plan and make such other
determinations, not inconsistent with the terms of the Plan, as the Committee shall deem appropriate. The interpretation and construction of any provision of the Plan by the Committee shall, unless otherwise determined by the Board of Directors, be
final and conclusive. 
  
 The Committee shall maintain a written record of its proceedings. A majority of the
Committee shall constitute a quorum, and the acts of a majority of the members present at any meeting at which a quorum is present, or acts unanimously approved in writing, shall be the acts of the Committee. 
  
 5.  Eligibility:    Options and awards may be granted only to present or future officers and key
employees of the Company and its Subsidiaries and Affiliates, including Subsidiaries and Affiliates which become such after the adoption 
 

 E-2-2 

 of the Plan. Any officer or key employee of the Company or of any such Subsidiary or Affiliate shall be eligible to receive one or more options
or awards under the Plan. Any director who is not an officer or employee of the Company or one of its Subsidiaries or Affiliates and any member of the Committee, during the time of the member’s service as such or thereafter, shall be ineligible
to receive an option or award under the Plan. The adoption of this Plan shall not be deemed to give any officer or employee any right to an award or to be granted an option to purchase Common Stock of the Company, except to the extent and upon such
terms and conditions as may be determined by the Committee. 
  
 6.  Stock
Options:    Stock options under the Plan shall consist of incentive stock options under Section 422 of the Code or nonqualified stock options (options not intended to qualify as incentive stock options), as the Committee
shall determine. In addition, the Committee may grant stock appreciation rights in conjunction with an option, as set forth in Section 6(b)(11), or may grant awards in conjunction with an option, as set forth in Section 6(b)(10) (an “Associated
Option”). 
  
 Each option shall be subject to the following terms and conditions: 
  
 (a)  Grant of Options.    The Committee shall (1) select the officers and key
employees of the Company and its Subsidiaries and Affiliates to whom options may from time to time be granted, (2) determine whether incentive stock options or nonqualified stock options are to be granted, (3) determine the number of shares to be
covered by each option so granted, (4) determine the terms and conditions (not inconsistent with the Plan) of any option granted hereunder (including but not limited to restrictions upon the options, circumstances, if any, under which options or
option gains may be forfeited, conditions of their exercise, or on the shares of Common Stock issuable upon exercise thereof), (5) determine whether nonqualified stock options or incentive stock options granted under the Plan shall include stock
appreciation rights and, if so, shall determine the terms and conditions thereof in accordance with Section 6(b)(11) hereof, (6) determine whether any nonqualified stock options granted under the Plan shall be Associated Options, and (7) prescribe
the form of the instruments necessary or advisable in the administration of options. 
  
 (b)  Terms and Conditions of Option.    Any option granted under the Plan shall be evidenced by a Stock Option Agreement entered into by the Company and the optionee, in such form as the Committee
shall approve, which agreement shall be subject to the following terms and conditions and shall contain such additional terms and conditions not inconsistent with the Plan, and in the case of an incentive stock option not inconsistent with the
provisions of the Code applicable to incentive stock options, as the Committee shall prescribe: 
  
 (1)  Number of Shares Subject to an Option.    The Stock Option Agreement shall specify the number of shares of Common Stock subject to the Agreement. If the option is an Associated Option, the
number of shares of Common Stock subject to such Associated Option shall initially be equal to the number of performance units or performance shares subject to the award, but one share of Common Stock shall be canceled for each performance unit or
performance share paid out under the award. 
  
 (2)  Option
Price.    The purchase price per share of Common Stock purchasable under an option will be determined by the Committee but will be not less than the Fair Market Value of a share of Common Stock on the date of the grant of
such option. 
  
 (3)  Option Period.    The period of each
option shall be fixed by the Committee, but no option shall be exercisable after the expiration of ten years from the date the option is granted. 
  
 (4)  Consideration.    Each optionee, as consideration for the grant of an option, shall remain in the continuous employ of the Company or of one of its
Subsidiaries or Affiliates for at least one year or such lesser period as the Committee shall so determine in its sole discretion from the date of the granting of such option, and no option shall be exercisable until after the completion of such one
year or lesser period of employment by the optionee. 
  
 (5)  Exercise of
Option.    An option may be exercised in whole or in part from time to time during the option period (or, if determined by the Committee, in specified installments during the option period) by 
 

 E-2-3 

 giving written notice (or by such other methods of notice as the Committee designates) of exercise to the Company (or a
representative designated by the Company for that purpose) specifying the number of shares to be purchased, such notice to be accompanied by payment in full of the purchase price and Withholding Taxes (as defined in Section 11 hereof), unless an
election to defer receipt of shares is made under Section 12, due either by (i) certified or bank check, (ii) in shares of Common Stock of the Company owned by the optionee for at least six months having a Fair Market Value at the date of exercise
equal to such purchase price, provided, however, that payment in shares of Common Stock of the Company will not be permitted unless at least 100 shares of Common Stock are required and delivered for such purpose, (iii) in any combination of the
foregoing, or (iv) by any other method authorized by the Committee. At its discretion, the Committee may modify or suspend any method for the exercise of stock options, including any of the methods specified in the previous sentence. Delivery
of shares for exercising an option shall be made either through the physical delivery of shares or through an appropriate certification or attestation of valid ownership. No shares shall be issued until full payment therefor has been made. An
optionee shall have the rights of a stockholder only with respect to shares of stock for which certificates have been issued to the optionee. 
  
 Notwithstanding anything in the Plan to the contrary, the Company may, in its sole discretion, allow the exercise of a lapsed grant if the Company determines that: (i) the lapse was solely the result
of the Company’s inability to execute the exercise of an option award due to conditions beyond the Company’s control and (ii) the optionee made valid and reasonable efforts to exercise the award. In the event the Company makes such a
determination, the Company shall allow the exercise to occur as promptly as possible following its receipt of exercise instructions subsequent to such determination. 
  
 (6)  Nontransferability of Options.    No option or stock appreciation right granted under the Plan shall be
transferable by the optionee otherwise than by will or by the laws of descent and distribution, and such option or stock appreciation right shall be exercisable, during the optionee’s lifetime, only by the optionee. Notwithstanding the
foregoing, the Committee may set forth in a Stock Option Agreement at the time of grant or thereafter, that the options (other than Incentive Stock Options) may be transferred to members of the optionee’s immediate family, to trusts solely for
the benefit of such immediate family members and to partnerships in which such family members and/or trusts are the only partners. For this purpose, immediate family means the optionee’s spouse, parents, children, stepchildren, grandchildren
and legal dependants. Any transfer of options made under this provision will not be effective until notice of such transfer is delivered to the Company. 
  
 (7)  Retirement and Termination of Employment Other than by Death or Disability.    If an optionee shall cease to be
employed by the Company or any of its Subsidiaries or Affiliates for any reason (other than termination of employment by reason of death or Disability) after the optionee shall have been continuously so employed for one year after the granting of
the option, or as otherwise determined by the Committee, the option shall be exercisable only to the extent that the optionee was otherwise entitled to exercise it at the time of such cessation of employment with the Company, Subsidiary or
Affiliate, unless otherwise determined by the Committee. If the cessation of employment is on account of retirement, the option shall remain exercisable for the remainder of the option term. If the cessation of employment is not on account of
Retirement or death, the option shall remain exercisable for three months after cessation of employment (or, if earlier, the remainder of the option period), unless the Committee determines otherwise. The Plan does not confer upon any optionee any
right with respect to continuation of employment by the Company or any of its Subsidiaries or Affiliates. 
  
 (8)  Disability of Optionee.    An optionee who ceases to be employed by reason of Disability shall be treated as though the optionee remained in the employ of the Company or a Subsidiary or
Affiliate until the earlier of (i) cessation of payments under a disability pay plan of the Company, Subsidiary or Affiliate, (ii) the optionee’s death, or (iii) the optionee’s 65th birthday. 
  
 (9)  Death of Optionee.    Except as otherwise provided in subsection (13), in the
event of the optionee’s 
 

 E-2-4 

 death (i) while in the employ of the Company or any of its Subsidiaries or Affiliates, (ii) while Disabled as described
in subsection (8) or (iii) after cessation of employment due to Retirement, the option shall be fully exercisable by the executors, administrators, legatees or distributees of the optionee’s estate, as the case may be, at any time following
such death. In the event of the optionee’s death after cessation of employment for any reason other than Disability or Retirement, the option shall be exercisable by the executors, administrators, legatees or distributees of the optionee’s
estate, as the case may be, at any time during the twelve month period following such death. Notwithstanding the foregoing, in no event shall an option be exercisable unless the optionee shall have been continuously employed by the Company or any of
its Subsidiaries or Affiliates for a period of at least one year after the option grant, and no option shall be exercisable after the expiration of the option period set forth in the Stock Option Agreement. In the event any option is exercised by
the executors, administrators, legatees or distributees of the estate of a deceased optionee, the Company shall be under no obligation to issue stock thereunder unless and until the Company is satisfied that the person or persons exercising the
option are the duly appointed legal representatives of the deceased optionee’s estate or the proper legatees or distributees thereof. 
  
 (10)  Long-Term Performance Awards.    The Committee may from time to time grant nonqualified stock options under the Plan in conjunction with and related to an
award of performance units or performance shares made under a Long-Term Performance Award as set forth in Section 7(b)(11). In such event, notwithstanding any other provision hereof, (i) the number of shares to which the Associated Option applies
shall initially be equal to the number of performance units or performance shares granted by the award, but such number of shares shall be reduced on a one-share-for-one unit or share basis to the extent that the Committee determines pursuant to the
terms of the award, to pay to the optionee or the optionee’s beneficiary the performance units or performance shares granted pursuant to such award; and (ii) such Associated Option shall be cancelable in the discretion of the Committee, without
the consent of the optionee, under the conditions and to the extent specified in the award. 
  
 (11)  Stock Appreciation Rights.    In the case of any option granted under the Plan, either at the time of grant or by amendment of such option at any time after such grant there may be included
a stock appreciation right which shall be subject to such terms and conditions, not inconsistent with the Plan, as the Committee shall impose, including the following: 
  
 (A)  A stock appreciation right shall be exercisable to the extent, and only to the extent, that the option in which it is included is at the time
exercisable, and may be exercised within such period only at such time or times as may be determined by the Committee; 
  
 (B)  A stock appreciation right shall entitle the optionee (or any person entitled to act under the provisions of subsection (9) hereof) to surrender unexercised the option in which the stock appreciation right is
included (or any portion of such option) to the Company and to receive from the Company in exchange therefor that number of shares having an aggregate value equal to (or, in the discretion of the Committee, less than) the excess of the value of one
share (provided such value does not exceed such multiple of the option price per share as may be specified by the Committee) over the option price per share specified in such option times the number of shares called for by the option, or portion
thereof, which is so surrendered. The Committee shall be entitled to cause the Company to settle its obligation, arising out of the exercise of a stock appreciation right, by the payment of cash equal to the aggregate value of the shares the Company
would otherwise be obligated to deliver or partly by the payment of cash and partly by the delivery of shares. Any such election shall be made within 30 business days after the receipt by the Committee of written notice of the exercise of the stock
appreciation right. The value of a share for this purpose shall be the Fair Market Value thereof on the last business day preceding the date of the election to exercise the stock appreciation right; 
  
 (C)  No fractional shares shall be delivered under this subsection (11) but in lieu thereof a cash adjustment
shall be made; 
 

 E-2-5 

  
 (D)  If a stock appreciation right included in an
option is exercised, such option shall be deemed to have been exercised to the extent of the number of shares called for by the option or portion thereof which is surrendered on exercise of the stock appreciation right and no new option may be
granted covering such shares under this Plan; and 
  
 (E)  If an option which includes a
stock appreciation right is exercised, such stock appreciation right shall be deemed to have been canceled to the extent of the number of shares called for by the option or portion thereof is exercised and no new stock appreciation rights may be
granted covering such shares under this Plan. 
  
 (F)  If an option which includes a stock
appreciation right is forfeited pursuant to Section 6(b)(15), such stock appreciation right shall be deemed to have been forfeited to the extent of the number of shares cancelled or forfeited under the option. 
  
 (12)  Incentive Stock Options.    In the case of any incentive stock option granted
under the Plan, the aggregate Fair Market Value of the shares of Common Stock of the Company (determined at the time of grant of each option) with respect to which incentive stock options granted under the Plan and any other plan of the Company or
its parent or a Subsidiary which are exercisable for the first time by an employee during any calendar year shall not exceed $100,000 or such other amount as may be required by the Code. Only employees who are employed by the Issuer or a subsidiary
shall be eligible to receive a grant of an Incentive Stock Option. In any year, the maximum number of shares with respect to which incentive stock options may be granted shall not exceed 8,000,000 shares, subject to adjustment pursuant to Section
10. 
  
 (13)  Rights of Transferee.    Notwithstanding anything
to the contrary herein, if an option has been transferred in accordance with Section 6(b)(6), the option shall be exercisable solely by the transferee. The option shall remain subject to the provisions of the Plan, including that it will be
exercisable only to the extent that the optionee or optionee’s estate would have been entitled to exercise it if the optionee had not transferred the option. In the event of the death of the optionee prior to the expiration of the right to
exercise the transferred option, the period during which the option shall be exercisable will terminate on the date one year following the date of the optionee’s death. In the event of the death of the transferee prior to the expiration of the
right to exercise the option, the period during which the option shall be exercisable by the executors, administrators, legatees and distributees of the transferee’s estate, as the case may be, will terminate on the date one year following the
date of the transferee’s death. In no event will be the option be exercisable after the expiration of the option period set forth in the Stock Option Agreement. The option shall be subject to such other rules as the Committee shall determine.

  
 (14)  Change in Control.    In the event an optionee’s
employment with the Company terminates for a qualifying reason during the three (3) year period following a change in control of the Company and prior to the exercise of options granted under this Plan, all outstanding options shall become
immediately fully vested and exercisable notwithstanding any provisions of the Plan or of the applicable stock option agreement to the contrary. 
  
 (A)  For the purpose of this Plan a change in control shall be deemed to have occurred on the earlier of the following dates: 
  
 (1)  The date any Person (as defined in Section 13(d)(3) of the Securities and Exchange Act) shall have become the direct or indirect beneficial
owner of twenty percent (20%) or more of the then outstanding common shares of the Company; 
  
 (2)  The date of consummation of a merger or consolidation of the Company with any other corporation other than (i) a merger or consolidation which would result in the voting securities of the company outstanding
immediately prior thereto continuing to represent at least 75% of the combined voting power of the voting securities of the Company 
 

 E-2-6 

 or the surviving entity outstanding immediately after such merger or consolidation, or (ii) a merger or consolidation
effected to implement a recapitalization of the Company in which no Person acquires more than 50% of the combined voting power of the Company’s then outstanding securities; 
  
 (3)  The date the shareholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition
by the Company of all or substantially all the Company’s assets; 
  
 (4)  The date
there shall have been a change in a majority of the Board of Directors of the Company within a two (2) year period unless the nomination for election by the Company’s shareholders of each new director was approved by the vote of two-thirds of
the directors then still in office who were in office at the beginning of the two (2) year period. 
  
 (B)  For purposes of this Plan provision, a qualifying termination shall be deemed to have occurred under the following circumstances: 
  
 (1)  A Company initiated termination for reason other than the employee’s death, disability, resignation without good cause, willful
misconduct or activity deemed detrimental to the interests of the Company provided the optionee executes a general release and, where applicable, a non-solicitation and/or non-compete agreement with the Company; 
  
 (2)  The optionee resigns with good cause, which includes (i) a substantial adverse alternation in the nature
or status of the optionee’s responsibilities, (ii) a reduction in the optionee’s base salary and/or levels of entitlement or participation under any incentive plan, award program or employee benefit program without the substitution or
implementation of an alternative arrangement of substantially equal value, or, (iii) the Company requiring the optionee to relocate to a work location more than fifty (50) miles from his/her work location prior to the change in control.

  
 (15)  Special Forfeiture Provisions. The Committee may, in its discretion, provide in a
Stock Option Agreement that, in the event that the optionee engages, within a specified period after termination of employment, in certain activity specified by the Committee that is deemed detrimental to the interests of the Company (including, but
not limited to, the breach of any non-solicitation and/or non-compete agreements with the Company), the optionee will forfeit all rights under any options and/or stock appreciation rights that remain outstanding as of the time of such act and will
return to the Company an amount of shares with a Fair Market Value (determined as of the date such shares are returned) or, in the case of stock appreciation rights that are settled in cash, an amount of cash, equal to the amount of any gain
realized upon the exercise of any option or stock appreciation right that occurred within a specified time period. 
  
 7.  Long-term Performance Awards:    Awards under the Plan shall consist of the conditional grant to the participants of a specified number of performance units or performance shares. The
conditional grant of a performance unit to a participant will entitle the participant to receive a specified dollar value, variable under conditions specified in the award, if the performance objectives specified in the award are achieved and the
other terms and conditions thereof are satisfied. The conditional grant of a performance share to a participant will entitle the participant to receive a specified number of shares of Common Stock of the Company, or the equivalent cash value, if the
objective(s) specified in the award are achieved and the other terms and conditions thereof are satisfied. 
  
 Each
award will be subject to the following terms and conditions: 
  
 (a)  Grant of
Awards.    The Committee shall (1) select the officers and key executives of the Company and its 
 

 E-2-7 

 Subsidiaries and Affiliates to whom awards may from time to time be granted, (2) determine the number of performance
units or performance shares covered by each award, (3) determine the terms and conditions of each performance unit or performance share awarded and the award period and performance objectives with respect to each award, (4) determine the periods
during which a participant may request the Committee to approve deferred payment of a percentage (not less than 25%) of an award (the “Deferred Portion”) and the interest or rate of return thereon or the basis on which such interest or
rate of return thereon is to be determined, (5) determine whether payment with respect to the portion of an award which has not been deferred (the “Current Portion”) and the payment with respect to the Deferred Portion of an award shall be
made entirely in cash, entirely in Common Stock or partially in cash and partially in Common Stock, (6) determine whether the award is to be made independently of or in conjunction with a nonqualified stock option granted under the Plan, (7)
determine the circumstances, if any, under which an award may be cancelled or forfeited, and (8) prescribe the form of the instruments necessary or advisable in the administration of the awards. 
  

(b)  Terms and Conditions of Award.    Any award conditionally granting performance units or performance shares to
a participant shall be evidenced by a Performance Unit Agreement or Performance Share Agreement, as applicable, executed by the Company and the participant, in such form as the Committee shall approve, which Agreement shall contain in substance the
following terms and conditions applicable to the award and such additional terms and conditions as the Committee shall prescribe: 
  
 (1)  Number and Value of Performance Units.    The Performance Unit Agreement shall specify the number of performance units conditionally granted to the
participant. If the award has been made in conjunction with the grant of an Associated Option, the number of performance units granted shall initially be equal to the number of shares which the participant is granted the right to purchase pursuant
to the Associated Option, but one performance unit shall be canceled for each share of the Company’s Common Stock purchased upon exercise of the Associated Option or for each stock appreciation right included in such option that has been
exercised. The Performance Unit Agreement shall specify the threshold, target and maximum dollar values of each performance unit and corresponding performance objectives as provided under Section 6(b)(5). No payout under a performance unit award to
an individual Participant may exceed 0.15% of the pre-tax earnings of the Company for the fiscal year which coincides with the final year of the performance unit period. 
  
 (2)  Number and Value of Performance Shares.    The Performance Share Agreement shall specify the number of performance
shares conditionally granted to the participant. If the award has been made in conjunction with the grant of an Associated Option, the number of performance shares granted shall initially be equal to the number of shares which the participant is
granted the right to purchase pursuant to the Associated Option, but one performance share shall be canceled for each share of the Company’s Common Stock purchased upon exercise of the Associated Option or for each stock appreciation right
included in such option that has been exercised. The Performance Share Agreement shall specify that each Performance Share will have a value equal to one (1) share of Common Stock of the Company. 
  

(3)  Award Periods.    For each award, the Committee shall designate an award period with a duration to be
determined by the Committee in its discretion but in no event less than three calendar years within which specified performance objectives are to be attained. There may be several award periods in existence at any one time and the duration of
performance objectives may differ from each other. 
  
 (4)  Consideration.    Each participant, as consideration for the award of performance units or performance shares, shall remain in the continuous employ of the Company or of one of its
Subsidiaries or Affiliates for at least one year or such lesser period as the Committee shall so determine in its sole discretion after the date of the making of such award, and no award shall be payable until after the completion of such one year
or lesser period of employment by the participant. 
  
 (5)  Performance
Objectives.    The Committee shall establish performance objectives with respect to the Company for each award period on the basis of such criteria and to accomplish such objectives as the 
 

 E-2-8 

 Committee may from time to time determine. Performance criteria for awards under the Plan may include one or more of the
following measures of the operating performance: 
  
 
	 a.  Earnings
 	  	 d.  Financial return ratios
 
	 b.  Revenue
 	  	 e.  Total Shareholder Return
 
	 c.  Operating or net cash flows
 	  	 f.  Market share
 

 
  
 The Committee shall establish the specific targets for the selected
criteria. These targets may be set at a specific level or may be expressed as relative to the comparable measure at comparison companies or a defined index. These targets may be based upon the total Company or upon a defined business unit which the
executive has responsibility for or influence over. 
  
 (6)  Determination and Payment
of Performance Units or Performance Shares Earned.    As soon as practicable after the end of an award period, the Committee shall determine the extent to which awards have been earned on the basis of the Company’s
actual performance in relation to the established performance objectives as set forth in the Performance Unit Agreement or Performance Share Agreement and certify these results in writing. The Performance Unit Agreement or Performance Share
Agreement shall specify that as soon as practicable after the end of each award period, the Committee shall determine whether the conditions of Sections 7(b)(4) and 7(b)(5) hereof have been met and, if so, shall ascertain the amount payable or
shares which should be distributed to the participant in respect of the performance units or performance shares. As promptly as practicable after it has determined that an amount is payable or should be distributed in respect of an award, the
Committee shall cause the Current Portion of such award to be paid or distributed to the participant or the participant’s beneficiaries, as the case may be, in the Committee’s discretion, either entirely in cash, entirely in Common Stock
or partially in cash and partially in Common Stock. The Deferred Portion of an award shall be contingently credited and payable to the participant over a deferred period and shall be credited with interest, rate of return, or other valuation as
determined by the Committee. The Committee, in its discretion, shall determine the conditions upon, and method of, payment of such Deferred Portions and whether such payment will be made entirely in cash, entirely in Common Stock or partially in
cash and partially in Common Stock. 
  
 In making the payment of an award in Common Stock hereunder,
the cash equivalent of such Common Stock shall be determined by the Fair Market Value of the Common Stock on the day the Committee designates the performance units shall be payable. 
  
 (7)  Nontransferability of Awards and Designation of Beneficiaries.    No award under this Section of the Plan shall be
transferable by the participant other than by will or by the laws of descent and distribution, except that a participant may designate a beneficiary pursuant to the provisions hereof. 
  
 If any participant or the participant’s beneficiary shall attempt to assign the participant’s rights under the Plan in violation of the provisions
thereof, the Company’s obligation to make any further payments to such participant or the participant’s beneficiaries shall forthwith terminate. 
  
 A participant may name one or more beneficiaries to receive any payment of an award to which the participant may be entitled under the Plan in the event of
the participant’s death, on a form to be provided by the Committee. A participant may change the participant’s beneficiary designation from time to time in the same manner. 
  
 If no designated beneficiary is living on the date on which any payment becomes payable to a participant’s beneficiary, or if no beneficiary has been
specified by the participant, such payment will be payable to the person or persons in the first of the following classes of successive preference: 
  
 (i)  Widow or widower, if then living, 
  
 (ii)  Surviving children, equally, 
  
 (iii)  Surviving parents, equally, 
 

 E-2-9 

  
 (iv)  Surviving brothers and sisters, equally,

  
 (v)  Executors or administrators 
  

and the term “beneficiary” as used in the Plan shall include such person or persons. 
  
 (8)  Retirement and Termination of Employment Other Than by Death or Disability.    In the event of the Retirement
prior to the end of an award period of a participant who has satisfied the one year employment requirement of Section 7(b)(4) with respect to an award prior to Retirement, the participant, or his estate, shall be entitled to a payment of such award
at the end of the award period, pursuant to the terms of the Plan and the participant’s Performance Unit Agreement or Performance Share Agreement, provided, however, that the participant shall be deemed to have earned that proportion (to the
nearest whole unit or share) of the value of the performance units or performance shares granted to the participant under such award as the number of months of the award period which have elapsed since the first day of the calendar year in which the
award was made to the end of the month in which the participant’s Retirement occurs, bears to the total number of months in the award period, subject to the attainment of performance objectives associated with the award as certified by the
Committee. The participant’s right to receive any remaining performance units or performance shares shall be canceled and forfeited. Notwithstanding the foregoing, the Committee may, in its discretion, provide in a Performance Unit Agreement
and/or Share Unit Agreement that a participant’s award or awards payable in the future will be cancelled and forfeited in the event that a participant engages, within a specified time period after termination of employment, in certain activity
specified by the Committee that is deemed detrimental to the interests of the Company (including, but not limited to, the breach of any non-solicitation and/or non-compete agreements with the Company) and may require the return of award payments
that were paid within a specified period of time prior to such activity. The Committee may, in its discretion, waive, in whole or in part, any cancellation and forfeiture of any performance units or performance shares provided that any such action
does not affect the award of any person covered by Section 162(m) of the Code. 
  
 Subject to Section
7(b)(6) hereof, the Performance Unit Agreement or Performance Share Agreement shall specify that the right to receive the performance units or performance shares granted to such participant shall be conditional and shall be canceled, forfeited and
surrendered if the participant’s continuous employment with the Company and its Subsidiaries and Affiliates shall terminate for any reason, other than the participant’s death, Disability or Retirement prior to the end of the award period.

  
 (9)  Disability of Participant.    For the purposes of any
award a participant who becomes Disabled shall be deemed to have suspended active employment by reason of Disability commencing on the date the participant becomes entitled to receive payments under a disability pay plan of the Company or any
Subsidiary or Affiliate and continuing until the date the participant is no longer entitled to receive such payments. In the event a participant becomes Disabled during an award period but only if the participant has satisfied the one year
employment requirement of Section 7(b)(4) with respect to an award prior to becoming Disabled, upon the determination by the Committee of the extent to which an award has been earned pursuant to Section 7(b)(6) the participant shall be deemed to
have earned that proportion (to the nearest whole unit) of the value of the performance units granted to the participants under such award as the number of months of the award period in which the participant was not Disabled bears to the total
number of months in the award period subject to the attainment of the performance objectives associated with the award as certified by the Committee. The participant’s right to receive any remaining performance units shall be canceled and
forfeited. The Committee may, in its discretion, waive, in whole or in part, such cancellation and forfeiture of any performance units or performance shares provided that any such action does not affect the award of any person covered by Section
162(m) of the Code. 
  
 (10)  Death of Participant.    In the
event of the death prior to the end of an award period of a participant who has satisfied the one year employment requirement with respect to an award prior to the date of death, the participant’s beneficiaries or estate, as the case may be,
shall be entitled to a payment of such award upon the end of the award period, pursuant to the terms of the Plan and the participant’s Performance Unit Agreement or Performance Share Agreement, provided, however, that the participant shall be
deemed to have 
 

 E-2-10 

 earned that proportion (to the nearest whole unit or share) of the value of the performance units or performance shares
granted to the participant under such award as the number of months of the award period which have elapsed since the first day of the calendar year in which the award was made to the end of the month in which the participant’s death occurs,
bears to the total number of months in the award period. The participant’s right to receive any remaining performance units or performance shares shall be canceled and forfeited. 
  
 The Committee may, in its discretion, waive, in whole or in part, such cancellation and forfeiture of any performance units or performance shares.

  
 (11)  Grant of Associated Option.    If the Committee
determines that the conditional grant of performance units or performance shares under the Plan is to be made to a participant in conjunction with the grant of a nonqualified stock option under the Plan, the Committee shall grant the participant an
Associated Option under the Plan subject to the terms and conditions of this subsection (11). In such event, such award under the Plan shall be contingent upon the participant’s being granted such an Associated Option pursuant to which: (i) the
number of shares the optionee may purchase shall initially be equal to the number of performance units or performance shares conditionally granted by the award, (ii) such number of shares shall be reduced on a one-share-for-one-unit or share basis
to the extent that the Committee determines, pursuant to Section 7(b)(6) hereof, to pay to the participant or the participant’s beneficiaries the performance units or performance shares conditionally granted pursuant to the award, and (iii) the
Associated Option shall be cancelable in the discretion of the Committee, without the consent of the participant, under the conditions and to the extent specified herein and in Section 7(b)(6) hereof. 
  
 If no amount is payable in respect of the conditionally granted performance units or performance shares, the award and
such performance units or performance shares shall be deemed to have been canceled, forfeited and surrendered, and the Associated Option, if any, shall continue in effect in accordance with its terms. If any amount is payable in respect of the
performance units or performance shares and such units or shares were granted in conjunction with an Associated Option, the Committee shall, within 30 days after the determination of the Committee referred to in the first sentence of Section
7(b)(6), determine, in its sole discretion, either: 
  
 (A)  to cancel in full the
Associated Option, in which event the value of the performance units or performance shares payable pursuant to Sections 7(b)(5) and (6) shall be paid or the performance shares shall be distributed; 
  
 (B)  to cancel in full the performance units or performance shares, in which event no amount shall be paid to
the participant in respect thereof and no shares shall be distributed but the Associated Option shall continue in effect in accordance with its terms; or 
  
 (C)  to cancel some, but not all, of the performance units or performance shares, in which event the value of the performance units payable
pursuant to Sections 7(b)(5) and (6) which have not been canceled shall be paid and/or the performance shares shall be distributed and the Associated Option shall be canceled with respect to that number of shares equal to the number of conditionally
granted performance units or performance shares that remain payable. 
  
 Any action taken by the
Committee pursuant to the preceding sentence shall be uniform with respect to all awards having the same award period. If the Committee takes no such action, it shall be deemed to have determined to cancel in full the award in accordance with clause
(b) above. 
  
 8.  Restricted Stock:    Restricted stock awards under the Plan
shall consist of grants of shares of Common Stock of the Issuer subject to the terms and conditions hereinafter provided. 
  
 (a)  Grant of Awards:    The Committee shall (i) select the officers and key employees to whom Restricted Stock 
 

 E-2-11 

 may from time to time be granted, (ii) determine the number of shares to be covered by each award granted, (iii)
determine the terms and conditions (not inconsistent with the Plan) of any award granted hereunder, and (iv) prescribe the form of the agreement, legend or other instrument necessary or advisable in the administration of awards under the Plan.

  
 (b)  Terms and Conditions of Awards:    Any restricted stock
award granted under the Plan shall be evidenced by a Restricted Stock Agreement executed by the Issuer and the recipient, in such form as the Committee shall approve, which agreement shall be subject to the following terms and conditions and shall
contain such additional terms and conditions not inconsistent with the Plan as the Committee shall prescribe: 
  
 (1)  Number of Shares Subject to an Award:    The Restricted Stock Agreement shall specify the number of shares of Common Stock subject to the Award. 
  
 (2)  Restriction Period:    The period of restriction applicable to each Award shall
be established by the Committee but may not be less than one year. The Restriction Period applicable to each Award shall commence on the Award Date. 
  
 (3)  Consideration:    Each recipient, as consideration for the grant of an award, shall remain in the continuous
employ of the Company for at least one year or such lesser period as the Committee shall so determine in its sole discretion from the date of the granting of such award, and any shares covered by such an award shall lapse if the recipient does not
remain in the continuous employ of the Company for at least one year or lesser period from the date of the granting of the award. 
  
 (4)  Restriction Criteria:    The Committee shall establish the criteria upon which the restriction period shall be based. Restrictions may be based upon either the
continued employment of the recipient or upon the attainment by the Company of one or more of the following measures of the operating performance: 
  
 
	 a.  Earnings
 	  	 d.  Financial return ratios
 
	 b.  Revenue
 	  	 e.  Total Shareholder Return
 
	 c.  Operating or net cash flows
 	  	 f.  Market share
 

 
  
 The Committee shall establish the specific targets
for the selected criteria. These targets may be set at a specific level or may be expressed as relative to the comparable measure at comparison companies or a defined index. Performance objectives may be established in combination with restrictions
based upon the continued employment of the recipient. These targets may be based upon the total Company or upon a defined business unit which the executive has responsibility for or influence over. 
  
 In cases where objective performance criteria are established, the Committee shall determine the extent to which the
criteria have been achieved and the corresponding level to which restrictions will be removed from the Award or the extent to which a participant’s right to receive an Award should be lapsed in cases where the performance criteria have not been
met and shall certify these determinations in writing. The Committee may provide for the determination of the attainment of such restrictions in installments where deemed appropriate. 
  
 (c)  Terms and Conditions of Restrictions and Forfeitures:    The shares of Common Stock awarded pursuant to the Plan
shall be subject to the following restrictions and conditions: 
  
 (1)  During the
Restriction Period, the participant will not be permitted to sell, transfer, pledge or assign Restricted Stock awarded under this Plan. 
  
 (2)  Except as provided in Section 8(c)(i), or as the Committee may otherwise determine, the participant shall have all of the rights of a stockholder of the Issuer, including the right to
vote the shares and receive dividends and other distributions provided that distributions in the form of stock shall be subject to the same restrictions as the underlying Restricted Stock. 
 

 E-2-12 

  
 (3)  In the event of a participant’s retirement,
death or disability prior to the end of the Restriction Period for a participant who has satisfied the one year employment requirement of Section 7(c)(iii), with respect to an award prior to Retirement, death or Disability, the participant, or
his/her estate, shall be entitled to receive that proportion (to the nearest whole share) of the number of shares subject to the Award granted as the number of months of the Restriction Period which have elapsed since the Award date to the date at
which the participant’s retirement, death or disability occurs, bears to the total number of months in the Restriction Period. The participant’s right to receive any remaining shares shall be canceled and forfeited and the shares will be
deemed to be reacquired by the Issuer. Notwithstanding the foregoing, the Committee may, in its discretion, provide in a Restricted Stock Agreement that the participant will forfeit his or her right to receive all shares subject to the Award in the
event that a participant engages, within a specified time period after termination of employment, in certain activity specified by the Committee that is deemed detrimental to the interests of the Company (including, but not limited to, the breach of
any non-solicitation and/or non-compete agreements with the Company) and may require the return to the Company of any shares that were received within a specified time period prior to such activity. 
  
 (4)  In the event of a participant’s retirement, death, disability or in cases of special circumstances as
determined by the Committee, the Committee may, in its sole discretion when it finds that such an action would be in the best interests of the Company, accelerate or waive in whole or in part any or all remaining time based restrictions with respect
to all or part of such participant’s Restricted Stock. 
  
 (5)  Upon termination of
employment for any reason during the restriction period, subject to the provisions of paragraph (iii) above or in the event that the participant fails promptly to pay or make satisfactory arrangements as to the withholding taxes as provided in the
following paragraph, all shares still subject to restriction shall be forfeited by the participant and will be deemed to be reacquired by the Company. 
  
 (6)  A participant may, at any time prior to the expiration of the Restriction Period, waive all right to receive all or some of the shares of a
Restricted Stock Award by delivering to the Company a written notice of such waiver. 
  
 (7)  Notwithstanding the other provisions of this Section 7, the Committee may adopt rules which would permit a gift by a participant of restricted shares to members of his/her immediate family (spouse, parents, children,
stepchildren, grandchildren or legal dependants) or to a Trust whose beneficiary or beneficiaries shall be either such a person or persons or the participant. 
  
 (8)  Any attempt to dispose of Restricted Stock in a manner contrary to the restrictions shall be ineffective. 
  
 (9)  Notwithstanding any provisions of this Plan or of the applicable Restricted Stock Agreement to the
contrary, in the event a participant’s employment with the company terminates for a qualifying reason (as defined in Section 6(14)(B) of this Plan) during the three (3) year period following a change in control of the Company (as defined in
Section 6(14)(A) of this Plan), all restrictions shall immediately lapse and the Restricted Stock shall become fully vested, including restricted stock hold less than one year. 
  
 9.  Determination of Breach of Conditions:    The determination of the Committee as to whether an event has occurred resulting in a
forfeiture or a termination or reduction of the Company’s obligations in accordance with the provisions of the Plan shall be conclusive. 
  
 10.  Adjustment in the Event of Change in Stock:    In the event of a change in the outstanding Common Shares of the Company (including but not limited to changes
in either the number of shares or the value of shares) by reason of any stock split, reverse stock split, dividend or other distribution (whether in the form of cash, shares, other 
 

 E-2-13 

 securities or other property), extraordinary cash dividend, recapitalization, merger, consolidation, split-up, spin-off, reorganization,
combination, repurchase or exchange of shares or other securities, the issuance of warrants or other rights to purchase shares or other securities, or other similar corporate transaction or event, if the Committee shall determine, in its sole
discretion, that, in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, such transaction or event equitably requires an adjustment in the aggregate number and/or class of
shares available under the Plan, in the number, class and/or price of shares subject to an outstanding options and/or awards, or in the number of performance units and/or dollar value of each such unit, such adjustment shall be made by the Committee
and shall be conclusive and binding for all purposes under the Plan. Notwithstanding the foregoing, no adjustments shall be made with respect to an award granted to an employee covered under Section 162(m) of the Code to the extent such adjustment
would cause the award to fail to qualify as performance-based compensation under that Section. 
  
  
 11.  Taxes: 
  
 (a)  Each participant shall, no
later than the Tax Date (as defined below), pay to the Company, or make arrangements satisfactory to the Committee regarding payment of, any Withholding Tax (as defined below) with respect to an option or award, and the Company shall, to the extent
permitted by law, have the right to deduct such amount from any payment of any kind otherwise due to the participant. The Company shall also have the right to retain or sell without notice, or to demand surrender of, shares of Common Stock in value
sufficient to cover the amount of any Withholding Tax, and to make payment (or to reimburse itself for payment made) to the appropriate taxing authority of an amount in cash equal to the amount of such Withholding Tax, remitting any balance to the
participant. For purposes of the paragraph, the value of shares of Common Stock so retained or surrendered shall be the average of the high and low sales prices per share on the New York Stock Exchange composite tape on the date that the amount of
the Withholding Tax is to be determined (the “Tax Date”) and the value of shares of Common Stock so sold shall be the actual net sale price per share (after deduction of commissions) received by the Company. 
  
 (b)  Notwithstanding the foregoing, if the stock options have been transferred, the optionee shall provide the
Company with funds sufficient to pay such Withholding Tax. If such optionee does not satisfy the optionee’s tax payment obligation and the stock options have been transferred, the transferee may provide the funds sufficient to enable the
Company to pay such taxes. However, if the stock options have been transferred, the Company shall have no right to retain or sell without notice, or to demand surrender from the transferee of, shares of Common Stock in order to pay such Withholding
Tax. 
  
 (c)  The term “Withholding Tax” means the minimum required withholding
amount applicable to the participant, including federal, state and local income taxes, Federal Insurance Contribution Act taxes and other governmental impost or levy. 
  
 (d)  Notwithstanding the foregoing, the participant shall be entitled to satisfy the obligation to pay any Withholding Tax, in whole or in part,
by providing the Company with funds sufficient to enable the Company to pay such Withholding Tax or by requiring the Company to retain or to accept upon delivery thereof by the participant shares of Common Stock, owned by the participant for at
least six months having a Fair Market Value sufficient to cover the amount of such Withholding Tax. Each election by a participant to have shares retained or to deliver shares for this purpose shall be subject to the following restrictions: (i) the
election must be in writing and be made on or prior to the Tax Date; (ii) the election must be irrevocable; (iii) the election shall be subject to the disapproval of the Committee. 
  
 12.  Deferral Election:    Notwithstanding the provisions of Section 11, any optionee or participant may elect, with the concurrence of
the Committee and consistent with any rules and regulations established by the Committee, to defer the 
 

 E-2-14 

 delivery of the proceeds of the exercise of any stock option not transferred under the provisions of Section 6(b)(6) or stock appreciation
rights. 
  
 (a)  Election Timing:    The election to defer the
delivery of the proceeds from any eligible award must be made at least six months prior to the date such award is exercised or at such other time as the Committee may specify. Deferrals will only be allowed for exercises which occur while the
optionee or participant is an active employee of the Company. Any election to defer the delivery of proceeds from an eligible award shall be irrevocable as long as the optionee or participant remains an employee of the Company. 

 
 (b)  Stock Option Deferral:    The deferral of the proceeds of stock
options may be elected by an optionee subject to the Regulations established by the Committee. The proceeds from such an exercise shall be credited to the optionee’s deferred stock option account as the number of deferred share units equivalent
in value to those proceeds. Deferred share units shall be valued at the Fair Market Value on the date of exercise. Subsequent to exercise, the deferred share units shall be valued at the Fair Market Value of Common Stock of the Company. Deferred
share units shall accrue dividends at the rate paid upon the Company’s Common Stock credited in the form of additional deferred share units. Deferred share units shall be distributed in shares of Company Stock upon the termination of employment
of the participant or at such other date as may be approved by the Committee over a period of no more than 10 years. 
  
 (c)  Stock Appreciation Right Deferral:    Upon such exercise, the Company will credit the optionee’s deferred stock option account with the number of deferred share units equivalent
in value to the difference between the Fair Market Value of a share of Common Stock on the exercise date and the exercise price of the Stock Appreciation Right multiplied by the number of shares exercised. Deferred share units shall be valued at the
Fair Market Value on the date of exercise. Subsequent to exercise, the deferred share units shall be valued at the Fair Market Value of Common Stock of the Company. Deferred share units shall accrue dividends at the rate paid upon the Company’s
Common Stock credited in the form of additional deferred share units. Deferred share units shall be distributed in shares of Common Stock upon the termination of employment of the participant or at such other date as may be approved by the Committee
over a period of no more than 10 years. 
  
 (d)  Accelerated
Distributions:    The Committee may, at its sole discretion, allow for the early payment of an optionee’s or participant’s deferred share units account in the event of an “unforeseeable emergency” or in
the event of the death or disability of the optionee or participant. An “unforeseeable emergency” is defined as an unanticipated emergency caused by an event beyond the control of the optionee or participant that would result in severe
financial hardship if the distribution were not permitted. Such distributions shall be limited to the amount necessary to sufficiently address the financial hardship. Any distributions under this provision shall be consistent with the Regulations
established under the Code. Additionally, the Committee may use its discretion to cause deferred share unit accounts to be distributed when continuing the Program is no longer in the best interest of the Company. 
  
 (e)  Assignability:    No rights to deferred share unit accounts may be assigned or
subject to any encumbrance, pledge or charge of any nature except that an optionee or participant may designate a beneficiary pursuant to any rules established by the Committee. 
  
 13.  Amendment of the Plan:    The Board of Directors may amend or suspend the Plan at any time and from time to time. No such
amendment of the Plan may, however, increase the maximum number of shares to be offered under options or awards, or change the manner of determining the option price, or change the designation of employees or class of employees eligible to receive
options or awards, or permit the transfer or issue of stock before payment therefor in full, or, without the written consent of the optionee or participant, alter or impair any option or award previously granted under the Plan or Prior Plan.
Notwithstanding the foregoing, if an option has been transferred in accordance with Section 6(b)(6), written consent of the transferee (and not the optionee) shall be necessary to alter or impair any option or award previously granted under the
Plan. 
  
  
 14.  Miscellaneous: 
 

 E-2-15 

  
 (a)  By accepting any benefits under the Plan, each
optionee or participant and each person claiming under or through such optionee or participant shall be conclusively deemed to have indicated acceptance and ratification of, and consent to, any action taken or made to be taken or made under the Plan
by the Company, the Board, the Committee or any other Committee appointed by the Board. 
  
 (b)  No participant or any person claiming under or through him shall have any right or interest, whether vested or otherwise, in the Plan or in any option, or stock appreciation right or award thereunder, contingent or
otherwise, unless and until all of the terms, conditions and provisions of the Plan and the Agreement that affect such participant or such other person shall have been complied with. 
  
 (c)  Nothing contained in the Plan or in any Agreement shall require the Company to segregate or earmark any cash or other property. 

 
 (d)  Neither the adoption of the Plan nor its operation shall in any way affect the rights and powers
of the Company or any of its Subsidiaries or Affiliates to dismiss and/or discharge any employee at any time. 
  
 (e)  Notwithstanding anything to the contrary in the Plan, neither the Board nor the Committee shall have any authority to take any action under the Plan where such action would affect the Company’s ability to account
for any business combination as a “pooling of interests.” 
  
 15.  Term of the
Plan:    The Plan, if approved by stockholders, will be effective May 7, 2002. The Plan shall expire on May 31, 2007 unless suspended or discontinued by action of the Board of Directors. The expiration of the Plan, however,
shall not affect the rights of Optionees under options theretofore granted to them or the rights of participants under awards theretofore granted to them, and all unexpired options and awards shall continue in force and operation after termination
of the Plan except as they may lapse or be terminated by their own terms and conditions. 
  
 16.  Employees Based Outside of the United States:    Notwithstanding any provision of the Plan to the contrary, in order to foster and promote achievement of the purposes of the Plan or to comply
with provisions of laws in other countries in which the Company, its Affiliates and its Subsidiaries operate or have Employees, the Committee, in its sole discretion, shall have the power and authority to (i) determine which Employees employed
outside the United States are eligible to participate in the Plan, (ii) modify the terms and conditions of options granted to Employees who are employed outside the United States, (iii) establish subplans, modify option exercise procedures and other
terms and procedures to the extent such actions may be necessary or advisable, and (iv) grant to Employees employed in countries wherein the granting of stock options is impossible or impracticable, as determined by the Committee, stock appreciation
rights with terms and conditions that, to the fullest extent possible, are substantially identical to the stock options granted hereunder. 
 

 E-2-16Prepared by R.R. Donnelley Financial -- Employment and Separation Agmt - Peter S.Ringrose

 Exhibit 10r 
  
 June 5, 2002 
  
 Dr. Peter S. Ringrose 
  

Re: Letter Agreement 
  
 Dear
Peter: 
  
 This Letter Agreement will confirm the terms and conditions of your employment and separation from Bristol-Myers Squibb Company
(the “Company”). You will be provided with the following compensation and benefits, subject to all of the terms and conditions of this Letter Agreement: 
  

	1.
	 
	Term of Employment.    Effective on the date of this Letter Agreement and extending through March 31, 2003, you will serve as the
President of the Company’s Pharmaceutical Research Institute (“PRI”) and Chief Scientific Officer (“CSO”). If a successor is found for you as President PRI and CSO prior to March 31, 2003, you will no longer be President PRI
and CSO as of the date your successor becomes employed by the Company. On April 1, 2003 or, if earlier, the date a successor is named for you as President PRI and CSO, you will serve as an advisor to the Chairman and Chief Executive Officer of the
Company for the remainder of your term of employment. From the date of this Letter Agreement through March 31, 2004, you will remain an active employee of the Company subject to the terms and conditions described below. Your separation from the
Company will occur at the end of business on March 31, 2004. 
 

  

	2.
	 
	Base Salary.    Your base salary as of the date of this Letter Agreement is $670,000 annually and you will be eligible for a merit
increase to your salary for 2003, pursuant to normal Company guidelines. You will not be eligible for a merit increase for 2004. Your salary will be paid in normal biweekly pay intervals for the period from the date of this Letter Agreement through
March 31, 2004. 
 

  

	3.
	 
	Performance Incentive Plan.    You will continue to participate in the Performance Incentive Plan (“PIP”) through December
31, 2003. You will cease participation in the PIP as of January 1, 2004. Any and all awards will be subject to the terms of the Performance Incentive Plan. 
 

  

	4.
	 
	Long Term Performance Award Plan.    You will continue to participate in the Long Term Performance Award Plan (“LTPAP”)
through the 2001-2003 cycle, but will not participate in the LTPAP beyond the 2001-2003 cycle. The award for the 2002-2004 cycle of the LTPAP 
 

 

 E-3-1 

	    
	 
	has already been granted, but assuming a termination date of March 31, 2004, that award will lapse. All awards will be subject to the terms and conditions of
the LTPAP. 
 

  

	  5.
	 
	Vesting of Stock Options.    You will be eligible for stock option grants during 2003. Any Bristol-Myers Squibb Company stock options
granted to you prior to the date of this Letter Agreement and during 2003 will continue to vest during the period of your employment with the Company. All stock options granted to you will be subject to the terms and conditions of the Bristol-Myers
Squibb Company 1983 Stock Option Plan, the Bristol-Myers Squibb Company 1997 Stock Incentive Plan and the Bristol-Myers Squibb Company 2002 Stock Incentive Plan. Any stock options granted to you and outstanding for at least one year will become
fully vested on the date of your separation from the Company, unless you are discharged for cause pursuant to paragraph 20 below. Any stock options granted to you must be exercised within three months of the termination of your employment. All stock
options granted to you and subject to a share price appreciation threshold, will only be exercisable if that threshold is met prior to three months after your separation date. 
 

  

	  6.
	 
	Restricted Stock.    Upon the termination of your employment, other than for cause pursuant to paragraph 20 below, you will receive a
portion of the 52,582 share Restricted Stock Award granted on January 3, 2000. A termination date of March 31, 2004 will result in your receiving 21,815 shares from this award. 17,527 of these shares will vest on January 3, 2004 and 4,288 of these
shares (a pro-rata portion of the January 3, 2000 award) will vest on March 31, 2004. This award is subject to the terms and conditions of the Restricted Stock Award Plan and Agreements thereunder. 
 

  

	  7.
	 
	Executive Car Program.    Assuming a termination date of March 31, 2004, you will continue to participate in the Executive Car
Program through June 30, 2004. On June 30, 2004, you will cease to participate in the Executive Car Program, and you will be required to either return or purchase your Company automobile. 
 

  

	  8.
	 
	Financial Counseling.    The Company will continue to make available to you participation in financial counseling. Assuming a
termination date of March 31, 2004, you will receive financial counseling until March 31, 2005. Tax preparation assistance will be made available through December 31, 2004. 
 

  

	  9.
	 
	Vacation Pay.    At the conclusion of your employment, you will be paid for banked and accrued vacation days, if any, based on your
salary in effect as of the date of your separation from employment. 
 

  

	10.
	 
	Other Company Property.    Assuming a termination date of March 31, 2004, on March 31, 2004, you agree to return all property
belonging to the Company or its affiliates (including, but not limited to any company laptop or computers, and other equipment, documents and property belonging to the Company). Return of your Executive Automobile is subject to paragraph 7 above.

 

 

 E-3-2 

  

	11.
	 
	Non-Competition.    During the period of your employment with the Company, you will not in any way directly or indirectly own,
manage, operate, control, accept employment or a consulting position with or otherwise advise or assist or be actively connected with, or have any financial interest in, directly or indirectly, any entity that engages or intends to engage in any
Competing Business anywhere in the world. “Competing Business” means any business or other enterprise substantially similar to, or competitive with, the business of the Company or any of its affiliated companies. It is understood that
ownership of not more than one percent (1%) of the equity securities of any Competing Business shall in no way be prohibited pursuant to the foregoing provisions. Questions regarding whether an assignment may be counter to this limitation must be
reviewed by the Chairman and Chief Executive Officer of the Company, and may be waived only by the Chairman and Chief Executive Officer of the Company. 
 

  

	12.
	 
	Outside Boards.    If you are asked to serve on a Board of Directors outside of the Company, such service will be considered by the
Company and subject to the approval of the Chairman and Chief Executive Officer. 
 

  

	13.
	 
	Work in Europe.    On April 1, 2003, or, if earlier, four weeks following such time as a successor to you as President of the PRI and
CSO is employed by the Company, the Company acknowledges and agrees that your home base will be in Europe during the remainder of your employ by the Company, and you will only need to work in the United States at the request of the Chairman and
Chief Executive Officer on an as needed basis. 
 

  

	14.
	 
	Change in Control.    The change in control agreement entered into by you and the Company on August 5, 1999, will be automatically
extended pursuant to Article II of the agreement. Further, pursuant to Article X of the agreement, the Company will require any successor to the Company to expressly assume and agree to perform the agreement in the same manner and to the same extent
that the Company would be required to perform it if no such succession had taken place. 
 

  

	15.
	 
	Confidentiality of Letter Agreement.    The terms and conditions of this Letter Agreement are confidential and will be deemed to be
confidential. Except as may be required by law, you may not disclose the terms and conditions of this Letter Agreement to any other person or entity, except that you may disclose the provisions of this Letter Agreement to your immediate family,
financial advisor and attorney, provided that you make the person to whom disclosure is made aware of the confidentiality provisions of this Letter Agreement and such person agrees to keep the terms of this Letter Agreement confidential. The Company
may disclose the terms and conditions of this Letter Agreement to its respective officers, directors, accountants and counsel, and as required by law. You further agree that you will not encourage others to demand any disclosure of the terms and
conditions of this Letter Agreement. This Letter Agreement may be used as evidence in a subsequent proceeding in which either party alleges a breach of this Agreement. 
 

  

	16.
	 
	Employee Confidentiality Obligation.    You may not make use of confidential or proprietary 
 

 

 E-3-3 

	    
	 
	information concerning the Company’s business or affairs, of any nature, that is not otherwise a matter of public record. This obligation continues after
the termination of your employment. 
 

  

	17.
	 
	Material Breach of Paragraphs 11, 15 and 16.    You understand that a breach by you of paragraphs 11, 15 or 16 would be a material
breach of your obligations under this Letter Agreement, and that, if any amounts have been provided to you under the terms of this Letter Agreement prior to any such breach, you will promptly return all such amounts to the Company on demand. In the
case of a breach by you of paragraphs 11, 15 or 16, the Company may, in addition, pursue any other remedy that may be available to the Company in law or at equity. 
 

  

	18.
	 
	Non-Disparagement.    You agree that you will not disparage or encourage or induce others to disparage the Company or any of its
employees. For purposes of this Agreement, the term “disparage” includes, without limitation, comments or statements to the press and/or media, the Company’s employees, and/or to any individual, customer, client or entity with whom
the Company has a business relationship if such statement would adversely affect in any manner the conduct of the business of the Company and/or the business reputation of the Company or its employees. 
 

  

	19.
	 
	Severance.    At the conclusion of your employment with the Company, you acknowledge that you will not be eligible for severance
under the terms of any existing Company severance plan or policy, or any separate agreement provided to you by the Company. 
 

  

	20.
	 
	Termination of Letter Agreement for Misconduct.    This employment arrangement, as defined under the terms of this Letter Agreement,
may be terminated by the Company prior to March 31, 2004 if you are discharged for cause. “Discharged for cause” is defined as you engaging in willful misconduct or activity deemed detrimental to the Company, including but not limited to
dishonesty (such as falsification of company documents, etc.), violation of Company policies (including the Alcohol and Drug Free Workplace, Harassment, Internet Usage and Standard of Business Conduct Policies), unauthorized disclosure of Company
confidential information or conviction of a misdemeanor or felony. 
 

  

	21.
	 
	Termination of Letter Agreement Upon Death.    In the case of your death prior to March 31, 2004, this employment arrangement as
defined under the terms of this Letter agreement will be terminated by the Company and the benefits contained within this Letter Agreement will not accrue to your heirs, executors, administrators, trustees, legal representatives, successors or
assigns. With regard to the vesting of stock options only, this paragraph 21 will be superceded by the terms of the Bristol-Myers Squibb Company 1983 Stock Option Plan, the Bristol-Myers Squibb Company 1997 Stock Incentive Plan and the Bristol-Myers
Squibb Company 2002 Stock Incentive Plan. 
 

  

	22.
	 
	Disability.    During the remainder of your employment with the Company, you will be a participant in the Company Short Term
Disability (STD) and Long Term Disability (LTD) 
 

 

 E-3-4 

	    
	 
	Plans. As of the earlier of March 31, 2004, or the termination of your employment with the Company, you will cease to be a participant in the STD or LTD Plans,
and will therefore not be eligible for benefits under those Plans, regardless of whether or not you are totally disabled under the terms of those Plans at that time. 
 

  

	23.
	 
	General Release.    In consideration of the compensation and benefits described herein, you will execute a General Release in favor
of the Company, its affiliates and others related to the Company. You will execute a General Release both at the time that you sign this Letter Agreement and upon the conclusion of your employment with the Company. The General Release that must be
executed at the time you sign this Letter Agreement is attached hereto. 
 

  

	24.
	 
	Supercedes All Prior Agreements.    You acknowledge and agree that this Letter Agreement supercedes any and all other prior
agreements entered into between you and the Company with regard to your employment or separation from the Company. 
 

  

	25.
	 
	Enforceability of Letter Agreement.    If at any time after the date of execution of this Letter Agreement and General Release, any
provision of this Letter Agreement and General Release is held to be illegal, void, or unenforceable, that provision will have no force and effect. However, the illegality or unenforceability of that provision will not have any effect on, and will
not impair the enforceability of, any other provision of this Letter Agreement and General Release. However, if a court of competent jurisdiction finds that the General Release is illegal and/or unenforceable, you will be required to execute a
General Release that is legal and enforceable or return any amounts provided to you under the terms of this Letter Agreement. 
 

  

	26.
	 
	Amendment or Termination of Letter Agreement.    This Letter Agreement may be amended or terminated if agreed to in writing and
signed by you and an authorized officer of the Company. 
 

  

	27.
	 
	Governing Law.    The validity, interpretation and performance of this Letter Agreement shall be governed by the laws of the State of
New York, without regard to the principles of conflict of law. 
 

  
 Please indicate your acceptance of this Letter
Agreement by signing below and returning to me the signed original of the attached General Release within 21 days of receipt. 
  
  
 
	 Very truly yours,
 
	  
	  
	 /s/    Stephen E. Bear
 
	 

	 Stephen E. Bear
 

 
  
 
	 Agreed to and accepted:
 
	  
	  
	 /s/    Peter S. Ringrose
 
	 

 
  
 Peter S. Ringrose 
  
 Date: 6/22/02 
  
  
 

 E-3-5 

 GENERAL RELEASE 
  
 Bristol-Myers Squibb Company has offered me certain compensation and benefits as set forth in a Letter Agreement dated June 5, 2002. I understand the compensation and benefits included in the Letter Agreement are in consideration for
my signing the following General Release at the time I execute the Letter Agreement. I will also be required to sign a General Release at the conclusion of my employment with the Company. 
  

The Company has advised me of and I acknowledge the following: 
  
 For and in
consideration of the payments to be made and for other valuable consideration to be provided to me pursuant to this Letter Agreement, I for myself and my heirs, executors, administrators, trustees, legal representatives, successors and assigns
(hereinafter, collectively referred to as “Releasors”), hereby irrevocably and unconditionally release and discharge the Company and any of its past or present parent entities, partners, corporations, subsidiaries, affiliates, divisions,
successors and assigns, including all past or present officers, directors, agents, employees, attorneys, successors, trustees, administrators and assigns (hereinafter, collectively referred to as “Releasees”), jointly and individually from
any and all claims, demands, causes of action and liabilities of any kind whatsoever, whether known or unknown, by reason of any act, omission, transaction or occurrence which Releasors ever had, now have, or hereafter can, shall or may have against
Releasees up to and including the Effective Date of this General Release, except for claims arising from a breach of this Letter Agreement, and from any and all liability which Releasees have or may have to me arising of my employment by and
termination of employment with the Company, including, without limitation, all claims under Title VII of the Civil Rights Act of 1964, 42 U.S.C § 2000e, et seq., the Age Discrimination in Employment Act, 29 U.S.C. § 621, et
seq., the Americans with Disabilities Act, 42 U.S.C § 12101, et seq., the Employee Retirement Income Security Act of 1974, 29 U.S.C. § 1001, et seq., the New York State Human Rights Law, the Administrative Code of the
City of New York, for breach of contract or for benefits, any common law tort, and/or any other federal, state or local law (whether in statutes or court-made decisions), regulation, or ordinance, and any claim for attorney’s fees, costs,
disbursement and the like. 
  
 I acknowledge that I have been advised of my right to seek independent legal counsel of my own choice,
throughout all of the negotiations preceding the execution of this Letter Agreement and General Release; that I have carefully read the Letter Agreement and General Release in their entirety; that I have had, if I so choose, at least twenty-one (21)
days in which to consider the terms and conditions of this Letter Agreement and General Release prior to execution; that I fully understand their terms and significance; that I voluntarily assent to all the terms and conditions contained therein,
and that I am signing the Letter Agreement and General Release free from any 
 

 E-3-6 

 coercion or duress. It is the intention of the parties that this Letter Agreement and General Release satisfies all of the requirements of the
Older Workers Benefit Protection Act (“OWBPA”), 29 U.S.C. § 626(f). 
  
 After executing this Letter Agreement and General
Release, I shall have seven (7) days (“the Revocation Period”) to revoke this Agreement by indicating my desire to do so in a writing addressed to Bristol-Myers Squibb Company, 345 Park Avenue, New York, New York 10154 (attention: Stephen
E. Bear). The Effective Date of this Letter Agreement and General Release shall be the eighth (8th) day
following the execution of this Letter Agreement and General Release. In the event that I do not sign this Letter Agreement and General Release, or in the event I revoke this Letter Agreement and General Release during the Revocation Period, this
Letter Agreement and General Release, including, but not limited to, the obligation of the Company to make the payments or benefits set forth in this Letter Agreement, shall automatically be deemed null and void. 
  
 
	 /s/  Peter S. Ringrose
 
	  	 6/22/02
 

	 Peter S. Ringrose
 	  	 Date
 

 
 

 E-3-7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00042-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00042-of-00352.parquet"}]]