William Roger and Joan Ann Thorpe - Page 3

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          lump-sum payment and benefits pursuant to the ITO-II Program.               
          The release was broadly written and covered any and all possible            
          and potential claims in contract or in tort arising from                    
          employment or termination of employment.  Pertinent sections of             
          the release read as follows:                                                
               In exchange for the sums and benefits which you will                   
               receive pursuant to the terms of the * * * [ITO-II                     
               Program], [you agree] to release * * * [IBM] from all                  
               claims, demands, actions or liabilities you may have                   
               against IBM of whatever kind, including but not limited                
               to those which are related to your employment with IBM                 
               or the termination of that employment. * * *  You also                 
               agree that this release covers, but is not limited to,                 
               claims arising from the Age Discrimination in                          
               Employment Act of 1967, as amended, Title VII of the                   
               Civil Rights Act of 1964, as amended, and any other                    
               federal or state law dealing with discrimination in                    
               employment on the basis of sex, race, national origin,                 
               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.                                                     

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Last modified: May 25, 2011