SEC Contract Filing

Filing Date: 2021-02-23

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>5
<FILENAME>ibm-20201231xex10d2.htm
<DESCRIPTION>EX-10.2
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.9.1.77--><!--Created on: 2/23/2021 09:58:08 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;min-height:36pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">Exhibit 10.2</b></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">NONCOMPETITION AGREEMENT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;white-space:pre-wrap;">In recognition of your critical role as a senior executive with International Business Machines Corporation (&#8220;IBM&#8221;) and your access to IBM Confidential Information and/or IBM customer goodwill by virtue of your position, your membership on the Acceleration Team, and/or your appointment as an IBM Fellow; and/or as mutually agreed upon consideration for your promotion or hiring as a senior executive, including your eligibility for awards to be granted to you under an IBM Long-Term Performance Plan (which constitutes independent consideration for Paragraph 1(e) herein); and/or for other good and valuable consideration, you (&#8220;Employee&#8221; or &#8220;you&#8221;) agree to the terms and conditions herein of this Noncompetition Agreement (the &#8220;Agreement&#8221;). Capitalized terms not otherwise defined shall have the meaning ascribed to them in Paragraph&#160;2.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 36pt;"><b style="font-size:12pt;font-weight:bold;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</b><b style="font-size:12pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Covenants.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">You acknowledge and agree that:</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the compensation that you will receive in connection with this Agreement, including any equity awards, cash and/or other compensation, your position as a senior executive, and/or your appointment to or continued membership on the Acceleration Team or any successor team or group (&#8220;AT&#8221;), if applicable, and/or your appointment as an IBM Fellow, if applicable, is consideration for your work at IBM, your agreement to the terms and conditions of this Agreement, and your compliance with the post-employment restrictive covenants included in this Agreement.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(i) the business in which IBM and its affiliates (collectively, the &#8220;Company&#8221;) are engaged is intensely competitive; (ii) your employment by IBM and/or your membership on the AT, if applicable, and/or your role as an IBM Fellow, if applicable, requires that you have access to, and knowledge of, IBM Confidential Information, including IBM Confidential Information that pertains not only to your business or unit, but also to the Company&#8217;s global operations; (iii) you are given access to, and develop relationships with, customers of the Company at the time and expense of the Company; and (iv) by your training, experience and expertise, your services to the Company are, and will continue to be, extraordinary, special and unique.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.79;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><p style="display:none;line-height:0pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:0pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:11.76%;margin-right:11.76%;margin-top:30pt;page-break-after:always;width:76.47%;border-width:0;"><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 30pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:72pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:12pt;">c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(i) the disclosure of IBM Confidential Information would place the Company at a serious competitive disadvantage and would do serious damage, financial and otherwise, to the business of the Company; and (ii) you will keep in strict confidence, and will not, directly or indirectly, at any time during or after your employment with IBM, disclos