Joyce M. and Thomas J. Hamm - Page 5

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               religion, disability, or age.  You also agree that this                
               release includes claims based on theories of contract                  
               or tort, whether based on common law or otherwise.                     
               This release does not include your vested rights, if                   
               any, in the IBM Retirement Plan, which survive                         
               unaffected by this release.                                            
                         *    *    *    *    *    *    *                              
                    3.   This release does not waive any claims that                  
               you may have which arise after the date you sign this                  
                         *    *    *    *    *    *    *                              
                    6. In the event of rehire by IBM or any of its                    
               subsidiaries as a regular employee, you understand that                
               IBM reserves the right to require repayment of a                       
               prorated portion of the ITO II Program payment.  The                   
               amount of repayment will be based on the number of                     
               weeks off the IBM payroll compared with the number of                  
               weeks' salary used to calculate your payment.                          
               The Pre-Retirement Leave of Absence Agreement provides:                
               Your leave will begin 08/01/92 and will end 12/31/00.  Based           
               on your committed plan to retire immediately following your            
               leave, your effective date of retirement will be 12/31/00.[4]          
               Once your leave begins, the committed retirement date may              
               not be changed to a later one; however, an earlier date upon           
               which you are retirement eligible will be allowed.                     
               In exchange for participating in the ITO II Program,                   
          petitioner received a payment of $71,809.69 (the ITO payment).              
          According to respondent's motion, as of the date of the motion,             
          petitioner had not filed any "tort-type" claims against IBM.                
               For calendar year 1992, petitioner received a Form W-2 from            
          IBM showing wages of $132,521.60 and Federal income tax withheld            
          of $22,982.60, and a Form W-2 from Management Recruiters                    

          4    The dates were either typed or handwritten in the space                
          provided in the Pre-Retirement Leave of Absence Agreement.                  

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Last modified: May 25, 2011