IBM » Topics » ANNUAL INCENTIVE PLAN (AIP)

This excerpt taken from the IBM DEF 14A filed Mar 9, 2009.

ANNUAL INCENTIVE PLAN (AIP)

 

·                  The AIP may provide a lump sum, cash payment in March of the year following resignation, retirement or involuntary termination without cause.

 

·                  This payment is not triggered by termination; the existence and amount of any AIP Payment is determined under the terms of the AIP applicable to all executives employed through December 31 of the previous year.

 

·                  An AIP payment is not payable following a termination for cause and is subject to clawback as described in Section 2 of the Compensation Discussion and Analysis.

 

·                  For purposes of the 2008 Potential Payments Upon Termination Table below, it is assumed that the AIP payment made to each named executive officer following termination of employment on the last business day of the fiscal year ended would have been the same as the actual payment made in March 2009.

 

This excerpt taken from the IBM DEF 14A filed Mar 10, 2008.

Annual Incentive Plan (AIP)

 

·                  The AIP may provide a lump sum, cash payment in March of the year following resignation, retirement or involuntary termination without cause.

 

·                  This payment is not triggered by termination; the existence and amount of any AIP payment is determined under the terms of the AIP applicable to all executives employed through December 31 of the previous year.

 

·                  An AIP payment is not payable following a termination for cause and is subject to clawback as described in Section 2 of the Compensation Discussion and Analysis.

 

·                  For purposes of the 2007 Potential Payments Upon Termination Table below, it is assumed that the AIP payment made to each named executive officer following termination of employment on the last business day of the fiscal year ended would have been the same as the actual payment made in March 2008.

 

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