Letter Agreement Terminating Prior Agreement Between Bristol-Myers Squibb and James M. Cornelius
This letter agreement, dated February 12, 2008, is between Bristol-Myers Squibb Company and James M. Cornelius. It confirms that, as Mr. Cornelius agrees to serve as Chairman and CEO of the company for an unspecified term, the previous letter agreement dated April 26, 2007, between him and the company is terminated. Both parties have signed to acknowledge this termination and the new arrangement.
Exhibit 10.1
345 Park Avenue New York, NY 10154-0037 ###-###-####
February 12, 2008
PERSONAL AND CONFIDENTIAL
Mr. James M. Cornelius
Chief Executive Officer
Bristol-Myers Squibb Company
345 Park Avenue
New York, NY 10154-0037
Dear Jim:
In connection with your agreeing to serve as Chairman and Chief Executive Officer of Bristol-Myers Squibb Company (the “Company”), for an unspecified term, this letter confirms our understanding that the Letter Agreement dated April 26, 2007 between you and the Company is hereby terminated.
| BRISTOL-MYERS SQUIBB COMPANY | ||
| By: | /s/ Lewis B. Campbell | |
| Name: | Lewis B. Campbell | |
| Title: | Chairman of the Compensation and Management Development Committee of the Board of Directors | |
| Agreed to this 12th day of February, 2008. | ||
| /s/ James M. Cornelius | ||
| James M. Cornelius | ||
