SEC Contract Filing

Filing Date: 2018-10-29

Document Content:
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<TYPE>EX-10.1
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<FILENAME>a18-37205_2ex10d1.htm
<DESCRIPTION>EX-10.1
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">Exhibit 10.1<a name="Exhibit10_1_071345"></a></font></b></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">EXECUTION VERSION</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">JPMORGAN CHASE BANK, N.A.<br> 383 Madison Avenue<br> New York, New York 10179</font></b></p> </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">GOLDMAN SACHS BANK USA<br> GOLDMAN SACHS LENDING<br> PARTNERS LLC<br> 200 West Street<br> New York, New York 10282</font></b></p> </td> </tr> </table>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:10.0pt;">CONFIDENTIAL</font></p>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Arial" style="font-size:10.0pt;">October&nbsp;28, 2018</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">International Business Machines Corporation<br> One New Orchard Road<br> Armonk, New York 10504</font></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt 1.0in;text-indent:-1.0in;"><font size="2" face="Arial" style="font-size:10.0pt;">Attention:</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Arial">Simon J. Beaumont<br> Treasurer</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Arial" style="font-size:10.0pt;">Project Socrates<br> 364-Day Bridge Facility<br> Commitment Letter</font></u></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">Ladies and Gentlemen:</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Arial" style="font-size:10.0pt;">You (&#147;<u>you</u>&#148;, the &#147;<u>Borrower</u>&#148; or &#147;<u>Parent</u>&#148;) have advised JPMorgan Chase Bank, N.A. (&#147;<u>JPMorgan</u>&#148;), Goldman Sachs Bank USA (&#147;<u>Goldman Sachs</u>&#148;) and Goldman Sachs Lending Partners LLC (&#147;<u>GS Lending Partners</u>&#148; and, together with JPMorgan and Goldman Sachs, the &#147;<u>Initial Lenders</u>&#148;, and the Initial Lenders, together with each Lender (as defined below) that becomes a party hereto pursuant to <u>Section&nbsp;1</u> or <u>Section&nbsp;2</u> hereof, collectively, the &#147;<u>Commitment Parties</u>&#148;, &#147;<u>we</u>&#148; or &#147;<u>us</u>&#148;) that you intend to acquire (the &#147;<u>Acquisition</u>&#148;) all of the outstanding equity interests of a company previously identified to us and codenamed &#147;Rocket&#148; (the &#147;<u>Target</u>&#148; and, together with its subsidiaries, the &#147;<u>Acquired Business</u>&#148;), through a wholly-owned subsidiary of Parent (&#147;<u>Merger Sub</u>&#148;) in the manner contemplated by the Agreement and Plan of Merger (together with the schedules and exhibits thereto, the &#147;<u>Acquisition Agreement</u>&#148;) entered (or to be entered) into among Parent, Merger Sub and the Target. Upon consummation of the Acquisition, the Target will be a wholly-owned direct or indirect subsidiary of the Borrower.</font></p>
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<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Arial" style="font-size:10.0pt;">In connection therewith, the Borrower intends to obtain $20.0 billion of gross proceeds from (a)&nbsp;the issuance by the Borrower of senior unsecured debt securities through a public offering or in a private placement or the borrowing by the Borrower of term loans, or a combination of the foregoing (collectively, the &#147;<u>Permanent Financing</u>&#148;) and/or (b)&nbsp;to the extent the Borrower does not issue or borrow the Permanent Financing up to such amount on or prior to the Closing Date (as defined below) for any reason, loans under a 364-day bridge loan credit facility (the &#147;<u>Bridge Facility</u>&#148;) in an aggr