<SEC-DOCUMENT>0000950157-25-000533.txt : 20250620
<SEC-HEADER>0000950157-25-000533.hdr.sgml : 20250620
<ACCEPTANCE-DATETIME>20250620170006
ACCESSION NUMBER:		0000950157-25-000533
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		15
CONFORMED PERIOD OF REPORT:	20250620
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20250620
DATE AS OF CHANGE:		20250620

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTERNATIONAL BUSINESS MACHINES CORP
		CENTRAL INDEX KEY:			0000051143
		STANDARD INDUSTRIAL CLASSIFICATION:	COMPUTER & OFFICE EQUIPMENT [3570]
		ORGANIZATION NAME:           	06 Technology
		EIN:				130871985
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-02360
		FILM NUMBER:		251062140

	BUSINESS ADDRESS:	
		STREET 1:		1 NEW ORCHARD ROAD
		CITY:			ARMONK
		STATE:			NY
		ZIP:			10504
		BUSINESS PHONE:		9144991900

	MAIL ADDRESS:	
		STREET 1:		1 NEW ORCHARD RD
		CITY:			ARMONK
		STATE:			NY
		ZIP:			10504
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8-k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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    <hr style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"/></div>

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  </div>

  <div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">UNITED STATES</div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">WASHINGTON, D.C. 20549</div>

    <div><br/>
    </div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 18pt; font-weight: bold;">FORM <ix:nonNumeric name="dei:DocumentType" id="Fact_31d2f09fa73749c4acb41f8b188ad4ae" contextRef="c20250620to20250620">8-K</ix:nonNumeric></div>

    <div><br/>
    </div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">CURRENT REPORT PURSUANT TO SECTION&#160;13 OR 15 (d)</div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">OF THE SECURITIES EXCHANGE ACT OF 1934</div>

    <div><br/>
    </div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Date of Report:&#160; <ix:nonNumeric name="dei:DocumentPeriodEndDate" id="Fact_68380dd147c2490d80e913d80f4dcfe2" contextRef="c20250620to20250620" format="ixt:date-monthname-day-year-en">June 20, 2025</ix:nonNumeric></div>

    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">(Date of earliest event reported)</div>

    <div><br/>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 24pt; font-weight: bold;"><ix:nonNumeric name="dei:EntityRegistrantName" id="Fact_359aa87634204aa692f1668b491576a9" contextRef="c20250620to20250620">INTERNATIONAL BUSINESS MACHINES CORPORATION</ix:nonNumeric><br/>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">(Exact name of registrant as specified in its charter)</div>

    <div><br/>
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  <tr>

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    <td style="width: 2%; vertical-align: bottom;">&#160;</td>

    <td style="width: 32%; vertical-align: bottom;">
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    <td style="width: 2%; vertical-align: bottom;">&#160;</td>

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  </tr>

  <tr>

    <td style="width: 32.01%; vertical-align: bottom;">
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    <td style="width: 2%; vertical-align: bottom;">&#160;</td>

    <td style="width: 32%; vertical-align: bottom;">
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    <td style="width: 2%; vertical-align: bottom;">&#160;</td>

    <td style="width: 32%; vertical-align: bottom;">
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  </tr>

  <tr>

    <td style="width: 32.01%; vertical-align: bottom;">&#160;</td>

    <td style="width: 2%; vertical-align: bottom;">&#160;</td>

    <td style="width: 32%; vertical-align: bottom;">&#160;</td>

    <td style="width: 2%; vertical-align: bottom;">&#160;</td>

    <td style="width: 32%; vertical-align: bottom;">&#160;</td>

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    <td colspan="3" style="width: 66%; vertical-align: bottom;">
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    <td style="width: 2%; vertical-align: bottom;">&#160;</td>

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  </tr>

  <tr>

    <td colspan="3" style="width: 66%; vertical-align: bottom;">
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    <td style="width: 2%; vertical-align: bottom;">&#160;</td>

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</table>
    <div><br/>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><ix:nonNumeric name="dei:CityAreaCode" id="Fact_ec8e6e49088a47fdb3f53f0541f6bc1e" contextRef="c20250620to20250620">914</ix:nonNumeric>-<ix:nonNumeric name="dei:LocalPhoneNumber" id="Fact_b92db0e39ee0453593211228dfae65d8" contextRef="c20250620to20250620">499-1900</ix:nonNumeric></div>

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    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Check the appropriate box below if the Form&#160;8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</div>

    <div><br/>
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    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000; border-spacing: 0;">


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    <td style="width: 95.07%; vertical-align: top;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
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  </tr>

  <tr>

    <td style="width: 3%; vertical-align: top;">&#160;</td>

    <td style="width: 95.07%; vertical-align: top;">&#160;</td>

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  <tr>

    <td style="width: 3%; vertical-align: top;"><ix:nonNumeric name="dei:SolicitingMaterial" id="Fact_5199a577f1c2438b8252588ba31fd83d" contextRef="c20250620to20250620" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric><br/>
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    <td style="width: 95.07%; vertical-align: top;">
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  <tr>

    <td style="width: 3%; vertical-align: top;">&#160;</td>

    <td style="width: 95.07%; vertical-align: top;">&#160;</td>

  </tr>

  <tr>

    <td style="width: 3%; vertical-align: top;"><ix:nonNumeric name="dei:PreCommencementTenderOffer" id="Fact_47a8ee8f5e3143189367d6bdd8817528" contextRef="c20250620to20250620" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric><br/>
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    <td style="width: 95.07%; vertical-align: top;">
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  </tr>

  <tr>

    <td style="width: 3%; vertical-align: top;">&#160;</td>

    <td style="width: 95.07%; vertical-align: top;">&#160;</td>

  </tr>

  <tr>

    <td style="width: 3%; vertical-align: top;"><ix:nonNumeric name="dei:PreCommencementIssuerTenderOffer" id="Fact_d1f67bb7d4134860a6d9773548566dc3" contextRef="c20250620to20250620" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric><br/>
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    <td style="width: 95.07%; vertical-align: top;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Pre-commencement communications pursuant to Rule 13e-4(c)&#160;under the Exchange Act (17 CFR 240.13e-4(c))</div>
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  </tr>


</table>
    <div><br/>
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    <div>
      <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Securities registered pursuant to Section&#160;12(b) of the Act:</div>

    </div>

    <div><br/>
    </div>

    <div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000; border-spacing: 0;">


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    <td style="width: 35%; vertical-align: middle;">&#160;</td>

    <td style="width: 3.79%; vertical-align: middle;">&#160;</td>

    <td style="width: 22%; vertical-align: middle;">&#160;</td>

    <td style="width: 4%; vertical-align: middle;">&#160;</td>

    <td style="width: 35%; vertical-align: middle;">&#160;</td>

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  <tr>

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    <td style="width: 22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
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    <td style="width: 4%; vertical-align: bottom; padding-bottom: 2px;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">&#160;</div>
            </td>

    <td style="width: 35%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 8pt; font-weight: bold;">Name of each exchange<span style="font-size: 8pt; font-family: 'Times New Roman';"><br/>
                </span>on which registered</div>
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  </tr>

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    <td style="width: 35%; vertical-align: top;">
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    <td style="width: 3.79%; vertical-align: top;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 22%; vertical-align: top; text-align: center;"><ix:nonNumeric name="dei:TradingSymbol" id="Fact_e8c48b3e7b3047759b30bdb3bae7e82b" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_CommonStockMember">IBM</ix:nonNumeric><br/>
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    <td style="width: 4%; vertical-align: top;">
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    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_94990810c6a1405dac572cad0e48feaf" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_CommonStockMember" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
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  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">NYSE Texas<br/>
              </div>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_00e6bd76c81c4eeeab6316994ebf9aa9" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Two875NotesDue2025Member">2.875% Notes due 2025</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_2d417ec7c9444bae8d24c724318f8ac8">IBM 25A</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_e5564ee676544460b939187c616510ad" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Two875NotesDue2025Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_15a4c05bdd2042aa8f5a3a9793fcaceb" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Zero300NotesDue2026Member">0.300% Notes due 2026</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_22a0c6affebc4f23ad95a33dff0870d6">IBM 26B</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_6b3f7abe155844e39cb3c2eba0b47f62" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Zero300NotesDue2026Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_c6049dbc2ad44e71900045e9852f68dd" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One250NotesDue2027Member">1.250% Notes due 2027</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_6e71cab3a33847809bb5d7b0175de90f">IBM 27B</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_bb6ee5b8c80e421aabfcdc08348f90a7" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One250NotesDue2027Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_72467646151a49f8b29469cd8ddf9b51" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three375NotesDue2027Member">3.375% Notes due 2027</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">&#160;</td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_bd172d4cbfcc431d9c4983efe70473ca">IBM 27F</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">&#160;</td>

    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_e3499ec10def4e5085d4de716c230545" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three375NotesDue2027Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_5d97b20bbdb74198909c0fa7fc4f933d" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Zero300NotesDue2028Member">0.300% Notes due 2028</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_14b74d887fa44436bc17b4775ac0bf8e">IBM 28B</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_48f26608c1a442f79648d37095598173" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Zero300NotesDue2028Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_9d5e24fe92734593bb8cc329de162148" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One750NotesDue2028Member">1.750% Notes due 2028</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_957ca772e12745439fbb5fb2931a5e87">IBM 28A</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_ff6a703857894dd594934de2ba94088d" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One750NotesDue2028Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_7b62fccfc533469da1b6bbc5d7926e13" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One500NotesDue2029Member">1.500% Notes due 2029</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">&#160;</td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_c7d3b33a9d294c1c9567ae1b36329c01">IBM 29</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">&#160;</td>

    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_a8e72a519c7642e48cbf632f686fcae5" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One500NotesDue2029Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_01fdbdf31cd4421d85bd11fb7fcff307" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Zero875NotesDue2030Member">0.875% Notes due 2030</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">&#160;</td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_2718fa60867047d98fc0b0460939d7a0">IBM 30A</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">&#160;</td>

    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_34f94ca471fa4d55b6252bf011d240e5" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Zero875NotesDue2030Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_f9680352538d4904ac9e5727f925efb2" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Two900NotesDue2030Member">2.900% Notes due 2030</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">&#160;</td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_692f83a9a4e149deaa4ceb68198937d0">IBM 30C</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">&#160;</td>

    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_05bb93f6637941a1969fcc3b65e8430e" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Two900NotesDue2030Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_4a84b07607af4607b650cbf210dc03f6" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One750NotesDue2031Member">1.750% Notes due 2031</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_ca976b588c534a0881c758eb27e45814">IBM 31</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_c61b8ecacf0f411e9cabd6db1d40891c" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One750NotesDue2031Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_f26791e5e49a46bc8c614bbf36cccb28" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three625NotesDue2031Member">3.625% Notes due 2031</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">&#160;</td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_ad67795e149c4551aaa796d43c9d03e1">IBM 31B</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">&#160;</td>

    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_6badc46cb7a94c24b9fa362b40d5f9e3" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three625NotesDue2031Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_963673c887a44de4a6a1073aba6d3f24" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Zero650NotesDue2032Member">0.650% Notes due 2032</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_9209e9a121a84560919afbca410862da">IBM 32A</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_f17fc0b9c434431799629c39a0cbabb0" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Zero650NotesDue2032Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_7737872fd6684b9baf5bde5a0974e294" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three150NotesDue2033Member">3.150% Notes due 2033</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">&#160;</td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_99093bd527b14068a47d29be02ee040b">IBM 33A</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">&#160;</td>

    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_8d48bde7bac0414b8e1516779e763485" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three150NotesDue2033Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_51c670d726ce445c91266f3645e2314a" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One250NotesDue2034Member">1.250% Notes due 2034</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_f4cf05c0b58a47978e77bc26c0f5ae3c">IBM 34</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_41c65d73cb8c4e0fb0569668abc11b12" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One250NotesDue2034Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_ef3a1b0725364b608e6c26ba050941c9" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three750NotesDue2035Member">3.750% Notes due 2035</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">&#160;</td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_ff676326290a490e85bb490e6e6f63c9">IBM 35</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">&#160;</td>

    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_7116b24d8af44215b3caa7a62c2573e2" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three750NotesDue2035Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_bf38da02d48143d88814a8a6a91bec03" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three450NotesDue2037Member">3.450% Notes due 2037</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">&#160;</td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_a3956e3c3be84c54b1b0a22d96e3fc99">IBM 37</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">&#160;</td>

    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_9f92698f3b314e2e98fdb44d4ff664fe" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three450NotesDue2037Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_7283ec9e851c4a4ba8519b887d444cde" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Four875NotesDue2038Member">4.875% Notes due 2038</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">&#160;</td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_7a6f1f6d4b14407ea222c9903f95670f">IBM 38</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">&#160;</td>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_c2a40bc5481e4deebf9b8d004d00c396" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Four875NotesDue2038Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
              </div>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_a7410a68dd05420e8d42ce715fe0f1e9" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One200NotesDue2040Member">1.200% Notes due 2040</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_8ba4d7d8d803440f846ffc51f78bf9e6">IBM 40</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_47a974dabc3047b995704f0f67dc414d" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One200NotesDue2040Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_a1bef64ff7a64474aca56d91b2e66d27" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Four000NotesDue2043Member">4.000% Notes due 2043</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">&#160;</td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_ab427841fea141ab9ae83732d005dca9">IBM 43</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">&#160;</td>

    <td style="width: 35%; vertical-align: top;"> <ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_3bc9b4345fb24f6bb2422c592cc46398" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Four000NotesDue2043Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_977e3c2167754704ba04d17639892bf3" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three800NotesDue2045Member">3.800% Notes due 2045</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">&#160;</td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_9cdba4ac34c042b9bb1e1c587c006b06">IBM 45A</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">&#160;</td>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_51396dd37f3648b4b2965fbba58abb3c" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three800NotesDue2045Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
              </div>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_882c7a447cb748dfb3a3128ba034425b" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Seven00DebenturesDue2025Member">7.00% Debentures due 2025</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_b4d96267b26f4ef5b8aa533cd4cceeb0">IBM 25</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_953588effb814611be888c48fc8c452b" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Seven00DebenturesDue2025Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
              </div>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_6d77405627fd4e55a56b3b380c522b24" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Six22DebenturesDue2027Member">6.22% Debentures due 2027</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_1272a92161514b1a971909d18a104671">IBM 27</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_209a4a42a7124dcba591b55e29255abc" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Six22DebenturesDue2027Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
              </div>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_cad25563126446e3a65599d285e6729d" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Six50DebenturesDue2028Member">6.50% Debentures due 2028</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_8666f680c52d4778a73b59617e8886e9">IBM 28</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_e834f055b81f4adcb4f3cd3e85b68a88" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Six50DebenturesDue2028Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
              </div>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_0b7d9e185b7e4923a2d8b63fc7b078ce" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Five875DebenturesDue2032Member">5.875% Debentures due 2032</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_6598fe14558046019da424e5d7604ad5">IBM 32D</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_2ab1089ae5dd4cebb78f6e4b01494258" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Five875DebenturesDue2032Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
              </div>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_19455f72719a49ac9cade631643e255b" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Seven00DebenturesDue2045Member">7.00% Debentures due 2045</ix:nonNumeric><br/>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_58b918604c0f4d6d989916d4554da248">IBM 45</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_23a1fe921e1f4943a6f5a85b7a509348" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Seven00DebenturesDue2045Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
              </div>
            </td>

  </tr>

  <tr>

    <td style="width: 35%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">
                <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><ix:nonNumeric name="dei:Security12bTitle" id="Fact_ceef6702adfb468594d2950196962215" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Seven125DebenturesDue2096Member">7.125% Debentures due 2096</ix:nonNumeric><br/>
                </div>
              </div>
            </td>

    <td style="width: 3.79%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 22%; vertical-align: top;">
              <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><span style="-sec-ix-hidden:Fact_ca00886fab124d1181c6859ea4fa6554">IBM 96</span><br/>
              </div>
            </td>

    <td style="width: 4%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            </td>

    <td style="width: 35%; vertical-align: top;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_2c29cc602cf64289997a3b22fdeacddc" contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Seven125DebenturesDue2096Member" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric><br/>
            </td>

  </tr>


</table>
    </div>

    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
    </div>

    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of
      the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>

    <div style="text-align: right;"><span style="font-size: 10pt; font-family: 'Times New Roman';">Emerging growth company</span> <ix:nonNumeric name="dei:EntityEmergingGrowthCompany" id="Fact_e930d486e6fc42f9a8bcad36b9dfabee" contextRef="c20250620to20250620" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </div>

    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"> <br/>
    </div>

    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
      financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#9744;</div>

    <div><br/>
    </div>

    <div>
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    <!--PROfilePageNumberReset%Num%2%%%-->
    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold; color: #000000;">Item 1.01. Entry into a Material Definitive Agreement.</span>&#160;</div>

    <div><br/>
    </div>

    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">On June 20, 2025, International Business Machines Corporation (&#8220;IBM&#8221;) (i) entered into Amendment No. 2 (the &#8220;Three-Year Amendment&#8221;) to the existing $2.5 billion Three-Year
      Credit Agreement dated as of June 22, 2021 (as amended by Amendment No. 1 to Three-Year Credit Agreement, dated as of June 30, 2022, the &#8220;Existing Three-Year Credit Agreement&#8221;), among IBM, the several banks and other financial institutions from time
      to time parties thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, BNP Paribas, Citibank N.A. and Royal Bank of Canada, as Syndication Agents, and the Documentation Agents named therein and (ii) entered into Amendment No. 2 (the &#8220;Five-Year
      Amendment&#8221;) to the existing $7.5 billion Five-Year Credit Agreement dated as of June 22, 2021 (as amended by Amendment No. 1 to Five-Year Credit Agreement, dated as of June 30, 2022, the &#8220;Existing Five-Year Credit Agreement&#8221;), among IBM, the several
      banks and other financial institutions from time to time parties thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, BNP Paribas, Citibank N.A. and Royal Bank of Canada, as Syndication Agents, and the Documentation Agents named therein.</div>

    <div><br/>
    </div>

    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">The Three-Year Amendment, among other things, extends the maturity of the Existing Three-Year Credit Agreement to June 20, 2028. The Five-Year Amendment, among other
      things, extends the maturity of the Existing Five-Year Credit Agreement to June 22, 2030. The foregoing descriptions of the Three-Year Amendment and the Five-Year Amendment do not purport to be complete and are qualified in their entirety by
      reference to the full text of the Three-Year Amendment and the Five-Year Amendment, which are filed as Exhibits 10.1 and 10.2 to this report, and are incorporated by reference herein.</div>

    <div><br/>
    </div>

    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold; color: #000000;">Item 2.03. Creation of a Direct Financial Obligation or an Obligation
        under an Off-Balance Sheet Arrangement of a Registrant.</span>&#160;</div>

    <div><br/>
    </div>

    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference herein.&#160;</div>

    <div><br/>
    </div>

    <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Item 9.01. Financial Statements and Exhibits.</div>

    <div><br/>
    </div>

    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;(d) Exhibits</div>

    <div><br/>
    </div>

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    <td style="width: 8%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Exhibit No.</div>
          </td>

    <td style="width: 2%; vertical-align: top; padding-bottom: 2px;">&#160;</td>

    <td style="width: 90%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Description</div>
          </td>

  </tr>

  <tr>

    <td style="width: 8%; vertical-align: top;">&#160;</td>

    <td style="width: 2%; vertical-align: top;">&#160;</td>

    <td style="width: 90%; vertical-align: top;">&#160;</td>

  </tr>

  <tr>

    <td style="width: 8%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><a href="ex10-1.htm">10.1</a></div>
          </td>

    <td style="width: 2%; vertical-align: top;"><br/>
          </td>

    <td style="width: 90%; vertical-align: top;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"><a href="ex10-1.htm">Amendment No. 2 dated June 20, 2025 to the Three-Year Credit
                Agreement dated as of June 22, 2021 (as amended by Amendment No. 1 thereto, dated as of June 30, 2022), among IBM, the several banks and other financial institutions from time to time parties thereto, JPMorgan Chase Bank, N.A., as
                Administrative Agent, BNP Paribas, Citibank N.A. and Royal Bank of Canada, as Syndication Agents, and the Documentation Agents named therein</a></div>
          </td>

  </tr>

  <tr>

    <td style="width: 8%; vertical-align: top;">&#160;</td>

    <td style="width: 2%; vertical-align: top;">&#160;</td>

    <td style="width: 90%; vertical-align: top;">&#160;</td>

  </tr>

  <tr>

    <td style="width: 8%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;"><a href="ex10-2.htm">10.2</a></div>
          </td>

    <td style="width: 2%; vertical-align: top;"><br/>
          </td>

    <td style="width: 90%; vertical-align: top;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"><a href="ex10-2.htm">Amendment No. 2 dated June 20, 2025 to the Five-Year Credit
                Agreement dated as of June 22, 2021 (as amended by Amendment No. 1 thereto, dated as of June 30, 2022), among IBM, the several banks and other financial institutions from time to time parties thereto, JPMorgan Chase Bank, N.A., as
                Administrative Agent, BNP Paribas, Citibank N.A. and Royal Bank of Canada, as Syndication Agents, and the Documentation Agents named therein</a></div>
          </td>

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  <tr>

    <td style="width: 8%; vertical-align: top;">&#160;</td>

    <td style="width: 2%; vertical-align: top;">&#160;</td>

    <td style="width: 90%; vertical-align: top;">&#160;</td>

  </tr>

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    <td style="width: 8%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman'; font-size: 10pt;">104</div>
          </td>

    <td style="width: 2%; vertical-align: top;">&#160;</td>

    <td style="width: 90%; vertical-align: top;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Cover Page Interactive Data File &#8211; the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the
              Inline XBRL document</div>
          </td>

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    <div><br/>
    </div>

    <div><br/>
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    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea" style="text-align: center;"><span style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;">2</span></div>

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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">SIGNATURE</div>

    <div><br/>
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    <div style="text-align: left; text-indent: 14.4pt; font-family: 'Times New Roman'; font-size: 10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
      undersigned, hereunto duly authorized.</div>

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            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Date:&#160; June 20, 2025</div>
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            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
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    <td style="width: 30.26%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;/s/ <span style="font-size: 10pt; font-family: 'Times New Roman'; color: #161616;">Brien Wierzchowski</span></td>

    <td style="width: 19.82%; vertical-align: top; padding-bottom: 2px;">&#160;</td>

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            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman'; color: #161616;">Brien Wierzchowski</span><br/>
            </div>
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            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Vice President and Treasurer</div>
          </td>

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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1.htm
<DESCRIPTION>AMENDMENT NO. 2 TO THREE-YEAR CREDIT AGREEMENT
<TEXT>
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  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.1</font><br>
  </div>
  <div><br>
  </div>
  <div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">AMENDMENT NO. 2 TO THREE-YEAR CREDIT AGREEMENT, dated as of June 20, 2025 (this &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Amendment</u></font>&#8221;),










      to the Three-Year Credit Agreement, dated as of June 22, 2021 (as amended by Amendment No. 1, dated as of June 30, 2022, and as further amended, supplemented or otherwise modified from time to time, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Credit Agreement</u></font>&#8221;), among INTERNATIONAL BUSINESS MACHINES CORPORATION (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>IBM</u></font>&#8221; or the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Borrower</u></font>&#8221;), the Lenders from time to time party thereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent. Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Amended
      Credit Agreement (as defined below).</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">RECITALS</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">WHEREAS, the Borrower has requested an extension of the Termination Date under the Credit Agreement and certain Lenders (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Extending Lenders</u></font>&#8221;), which, after giving effect to Section 2 of this Amendments, will collectively constitute the Required Lenders, are willing to extend the Termination Date on the terms and
      subject to the conditions set forth herein (such extension, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>2025 Extension</u></font>&#8221;);</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">WHEREAS, certain Lenders (each, an &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Assigning Lender</u></font>&#8221;) have agreed to
      assign all or a part of their respective Commitments to certain Extending Lenders (each, an &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Assuming Lender</u></font>&#8221;) on the terms and subject to the conditions set forth herein;</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">WHEREAS, notwithstanding anything to the contrary in the Credit Agreement, each of the parties hereto agrees that this Amendment (i) constitutes an
      Extension Request by the Borrower (and acceptance of such request by each Extending Lender) pursuant to <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Section 2.21(a)</u></font> of the Credit Agreement and (ii) shall satisfy all
      requirements set forth in <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Section 2.21</u></font> for the purposes of this Extension Request; and</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">WHEREAS, pursuant to, and in compliance with the requirements of, <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Section 11.1</u></font>
      of the Credit Agreement, the Lenders are willing to agree to this Amendment on the terms set forth herein.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, the parties hereto agree as follows:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">SECTION 1.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Amendments to Credit Agreement</u></font>. Effective as of the Amendment No. 2 Effective Date (as defined below) immediately after giving effect to <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Section 2</u></font>
      of this Amendment:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">the existing <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Schedule 1.1</u></font> to the Credit Agreement is hereby amended and restated in its entirety as set forth in the attached <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Schedule 1</u></font>
        hereto; and</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">the definition of &#8220;Termination Date&#8221;
        set forth in <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Section 1.1</u></font> of the Credit Agreement is hereby amended and restated in its entirety as follows:</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">Termination Date</font>&#8221;: June 20, 2028, as such date may be
      extended in accordance with Section 2.21 (or if such date is not a Business Day, the Business Day immediately prior thereto).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">SECTION 2.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Assignment and Assumption</u></font>.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">Subject to the satisfaction of the
        conditions set forth in <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Section 3</u></font> hereof, (i) each of the Assuming Lenders severally agrees to purchase, on the terms and subject to the conditions set forth in the
        Assignment and Assumption attached as <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Exhibit G</u></font> to the Credit Agreement (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Assignment and Assumption</u></font>&#8221;)










        (and subject to and in accordance with the Standard Terms and Conditions set forth on Annex 1 thereto and the other requirements therein which are hereby agreed to by each Assuming Lender and incorporated herein by reference and made a part of this
        <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Section 2</u></font> as if set forth herein in full (as incorporated herein, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Standard Terms and Conditions</u></font>&#8221;)),










        collectively, certain Commitments from the Assigning Lenders and the related Assigned Interests (as defined in the Assignment and Assumption) and (ii) each of the Assigning Lenders hereby agrees to assign, on the terms and subject to the conditions
        set forth in the Assignment and Assumption (and subject to and in accordance with the Standard Terms and Conditions, which are hereby agreed to by each Assigning Lender), such Commitments and the related Assigned Interests<font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;"> to the Assuming Lenders, in each case, in such amounts as required to give effect to the Commitments of the Lenders set forth in <u>Schedule 1</u> hereto (collectively, </font>the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Assignments</u></font>&#8221;).&#160; Such assignments and assumptions shall be effective on the Amendment No. 2 Effective Date immediately prior to giving effect to the amendments set forth in <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Section 1</u></font> hereof, with each Assuming Lender constituting an Assignee (as defined in the Assignment and Assumption) for purposes of the Assignments (including the Standard
        Terms and Conditions) and each Assigning Lender constituting an Assignor (as defined in the Assignment and Assumption) for purposes of the Assignments (including the Standard Terms and Conditions).</font></div>
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    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The Borrower and the Administrative
        Agent hereby consent to the Assignments. In connection with the Assignments and for purposes of the Assignments only, the Administrative Agent hereby waives the processing and recordation fees set forth in <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Section 11.8(b)</u></font> of the Credit Agreement.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">After giving effect to the
        Assignments, the Commitments of each Lender shall be as set forth in <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Schedule 1</u></font> hereto.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">SECTION 3.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Conditions to Effectiveness of this Amendment</u></font>. This Amendment shall become effective (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Amendment No. 2 Effective Date</u></font>&#8221;) upon the
      satisfaction of the following conditions precedent:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">the Administrative
        Agent (or its counsel) shall have received duly executed counterparts hereof that, when taken together, bear the signatures of the Borrower and Lenders representing all the Lenders;</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">the Administrative Agent shall have
        received all documentation and other information about IBM as has been reasonably requested in writing at least five days prior to the Amendment No. 2 Effective Date by the Administrative Agent (on behalf of itself or any Lender) that is required
        by regulatory authorities under applicable &#8220;know your customer&#8221; and anti-money laundering rules and regulations, including the PATRIOT Act; and</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">on or before the Amendment No. 2
        Effective Date, the Administrative Agent shall have received, for its own account and the account of each Lender, as applicable, the fees and expenses in the amounts and on the dates previously agreed to in writing by IBM in connection with this
        Amendment.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">SECTION 4.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Effects on Credit Agreement</u></font>.&#160; Except as specifically amended herein, all provisions of the Credit Agreement shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.&#160; Except as
      otherwise expressly provided herein, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under the Credit Agreement or constitute a waiver
      of or consent to any departure from any term or provision of the Credit Agreement or to any further or future action on the part of the Borrower that would require a waiver or consent of the Required Lenders, all the Lenders or the Administrative
      Agent, as applicable.&#160; Upon and after the execution of this Amendment by each of the parties hereto, each reference in the Credit Agreement to &#8220;this Agreement&#8221;, &#8220;hereunder&#8221;, &#8220;hereof&#8221; or words of like import referring to the Credit Agreement shall
      mean and be a reference to the Amended Credit Agreement.</div>
    <div><br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">SECTION 5.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Representations and Warranties of the Borrower</u></font>.&#160; The Borrower hereby represents and warrants as follows:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">as of the Amendment No. 2 Effective
        Date, each of the representations and warranties made by the Borrower in or pursuant to the Amended Credit Agreement shall be true and correct in all material respects (without duplication of any materiality qualifier contained therein) on and as
        of the Amendment No. 2 Effective Date as if made on and as of the Amendment No. 2 Effective Date, except to the extent such representations and warranties expressly relate to an earlier date; and</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">both immediately prior to and after
        giving effect to this Amendment, no Default or Event of Default shall have occurred and be continuing on the Amendment No. 2 Effective Date.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">SECTION 6.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Expenses</u></font>.&#160; The Borrower shall reimburse the Administrative Agent for all reasonable and documented out-of-pocket costs and expenses, including, reasonable and documented attorneys&#8217; fees, in connection with or relating to
      this Amendment.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">SECTION 7.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Integration</u></font>.&#160; This Amendment represents the agreement of the Borrower, the Administrative Agent and the Lenders with respect to the subject matter hereof, and there are no promises, undertakings, representations or
      warranties by the Administrative Agent or any Lender relative to subject matter hereof not expressly set forth or referred to herein.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">SECTION 8.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>GOVERNING LAW; WAIVER OF JURY TRIAL</u></font>.&#160; THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW
      YORK. EACH OF THE BORROWER, THE ADMINISTRATIVE AGENT AND THE LENDERS HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AMENDMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY AND FOR ANY
      COUNTERCLAIM THEREIN.&#160; THE PROVISIONS OF <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>SECTION 11.17</u></font> OF THE CREDIT AGREEMENT SHALL APPLY TO THIS AMENDMENT TO THE SAME EXTENT AS IF FULLY SET FORTH HEREIN.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">SECTION 9.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Counterparts; Electronic Execution</u></font>.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">This Amendment may be executed by one
        or more of the parties to this Amendment on any number of separate counterparts (including by email or telecopy), and all of said counterparts taken together shall be deemed to constitute one and the same instrument.&#160; Delivery of an executed
        signature page of this Agreement by email or facsimile transmission shall be effective as delivery of a manually executed counterpart hereof.&#160; A set of the copies of this Amendment signed by all the parties shall be lodged with the Borrower and the
        Administrative Agent.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">Delivery of an executed counterpart of a signature page of this Amendment that is an electronic sound, symbol, or process attached to, or associated with, a contract or other record and adopted by a Person with the intent to
        sign, authenticate or accept such contract or record (an &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Electronic Signature</u></font>&#8221;) transmitted by telecopy, emailed pdf. or any other electronic means that reproduces an
        image of an actual executed signature page shall be effective as delivery of a manually executed counterpart of this Amendment.&#160; The words &#8220;execution,&#8221; &#8220;signed,&#8221; &#8220;signature,&#8221; &#8220;delivery,&#8221; and words of like import in or relating to this Amendment
        shall be deemed to include Electronic Signatures, deliveries or the keeping of records in any electronic form (including deliveries by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature
        page), each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be; provided that nothing in this
        Amendment shall</font> require the Administrative Agent to accept Electronic Signatures in any form or format without its prior written consent and pursuant to procedures approved by it; provided, further, without limiting the foregoing, (i) to the
      extent the Administrative Agent has agreed to accept any Electronic Signature, the Administrative Agent and each of the Lenders shall be entitled to rely on such Electronic Signature purportedly given by or on behalf of the Borrower without further
      verification thereof and without any obligation to review the appearance or form of any such Electronic Signature and (ii) upon the request of the Administrative Agent or any Lender, any Electronic Signature&#160; shall be promptly followed by a manually
      executed counterpart.&#160; Without limiting the generality of the foregoing, the Borrower hereby (i) agrees that, for all purposes, including without limitation, in connection with any workout, restructuring, enforcement of remedies, bankruptcy
      proceedings or litigation among the Administrative Agent, the Lenders and the Borrower, Electronic Signatures transmitted by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page and/or any
      electronic images of this Amendment shall have the same legal effect, validity and enforceability as any paper original, (ii) agrees that the Administrative Agent and each of the Lenders may, at its option, create one or more copies of this Amendment
      in the form of an imaged electronic record in any format, which shall be deemed created in the ordinary course of such Person&#8217;s business, and destroy the original paper document (and all such electronic records shall be considered an original for all
      purposes and shall have the same legal effect, validity and enforceability as a paper record), (iii) waives any argument, defense or right to contest the legal effect, validity or enforceability of this Amendment based solely on the lack of paper
      original copies of this Amendment, including with respect to any signature pages thereto and (iv) waives any claim against any indemnified person for any Liabilities arising solely from the Administrative Agent&#8217;s and/or any Lender&#8217;s reliance on or
      use of Electronic Signatures and/or transmissions by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page, including any indemnified liabilities arising as a result of the failure of the
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">[<font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">Signature Pages Follow</font>]</div>
    <div><br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">IN WITNESS WHEREOF</font>, the parties hereto have caused this
      Amendment to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.</div>
    <div><br>
    </div>
    <table align="right" cellspacing="0" cellpadding="0" border="0" id="z528a561c02e14b5d8a213564e23e54c2" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

        <tr>
          <td style="vertical-align: top;" colspan="4" rowspan="1">
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        </tr>
        <tr>
          <td style="vertical-align: top;" colspan="3">&#160;</td>
          <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
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        <tr>
          <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
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        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
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          <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Mark Hobbert<br>
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        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 4%; vertical-align: top;">
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          <td style="width: 31%; vertical-align: top;">Vice President and Assistant Treasurer<br>
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        </tr>

    </table>
    <div style="clear: both;"><br>
    </div>
    <div style="clear: both;"><br>
      <br>
      <br>
      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement]</div>
      <br>
    </div>
    <div><br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
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        <tr>
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        </tr>
        <tr>
          <td style="vertical-align: top;" colspan="3">&#160;</td>
          <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
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        <tr>
          <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
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          </td>
          <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Melanie George<br>
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          <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
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          </td>
          <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Melanie George <br>
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        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 4%; vertical-align: top;">
            <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
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          <td style="width: 31%; vertical-align: top;">Vice President<br>
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          <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
        </tr>

    </table>
    <div style="clear: both;"><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement]</div>
    <div><br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div>
      <div><br>
        <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

            <tr>
              <td style="vertical-align: top;" colspan="4" rowspan="1">
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                <div>&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top;" colspan="3">&#160;</td>
              <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
              </td>
              <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Michael Kowalczuk</td>
              <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
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              <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Michael Kowalczuk</td>
              <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 4%; vertical-align: top;">
                <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
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              <td style="width: 31%; vertical-align: top;">Managing Director</td>
              <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
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            <tr>
              <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
              <td rowspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
              <td rowspan="1" style="width: 31%; vertical-align: top;">&#160;</td>
              <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
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            <tr>
              <td rowspan="1" style="width: 3%; vertical-align: top; padding-bottom: 2px;">By:<br>
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              <td colspan="2" rowspan="1" style="width: 4%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;">/s/ Maria Mulic<br>
              </td>
              <td rowspan="1" style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
              <td rowspan="1" style="width: 4%; vertical-align: top;">Name: <br>
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              <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
              <td rowspan="1" style="width: 4%; vertical-align: top;">Title:</td>
              <td rowspan="1" style="width: 31%; vertical-align: top;">Managing Director <br>
              </td>
              <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
            </tr>

        </table>
        <div style="clear: both;"><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement]</div>
      </div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
      </div>
      <div>
        <div><br>
        </div>
        <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

            <tr>
              <td style="vertical-align: top;" colspan="4" rowspan="1">
                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: CITIBANK, N.A.,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
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                <div>&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top;" colspan="3">&#160;</td>
              <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
              </td>
              <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Susan Olsen</td>
              <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
              </td>
              <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Susan Olsen</td>
              <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 4%; vertical-align: top;">
                <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
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              <td style="width: 31%; vertical-align: top;">Vice President<br>
              </td>
              <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
            </tr>

        </table>
        <div style="clear: both;"><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
      </div>
      <br>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
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      <div><br>
      </div>
      <div>
        <div>
          <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

              <tr>
                <td style="vertical-align: top;" colspan="4" rowspan="1">
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                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                  <div>&#160;</div>
                </td>
              </tr>
              <tr>
                <td style="vertical-align: top;" colspan="3">&#160;</td>
                <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
              </tr>
              <tr>
                <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                </td>
                <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Theodore Brown</td>
                <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
              </tr>
              <tr>
                <td style="width: 3%; vertical-align: top;">&#160;</td>
                <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                </td>
                <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Theodore Brown</td>
                <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
              </tr>
              <tr>
                <td style="width: 3%; vertical-align: top;">&#160;</td>
                <td style="width: 4%; vertical-align: top;">
                  <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                </td>
                <td style="width: 31%; vertical-align: top;">Authorized Signatory</td>
                <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
              </tr>

          </table>
          <div style="clear: both;"><br>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
        </div>
      </div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
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      <div>
        <div><br>
          <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

              <tr>
                <td style="vertical-align: top;" colspan="4" rowspan="1">
                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">BANCO SANTANDER, S.A., NEW YORK BRANCH,</div>
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                  <div>&#160;</div>
                </td>
              </tr>
              <tr>
                <td style="vertical-align: top;" colspan="3">&#160;</td>
                <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
              </tr>
              <tr>
                <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
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                </td>
                <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Andres Barbosa</td>
                <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
              </tr>
              <tr>
                <td style="width: 3%; vertical-align: top;">&#160;</td>
                <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
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                <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Andres Barbosa</td>
                <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
              </tr>
              <tr>
                <td style="width: 3%; vertical-align: top;">&#160;</td>
                <td style="width: 4%; vertical-align: top;">
                  <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
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                <td style="width: 31%; vertical-align: top;">Managing Director</td>
                <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
              </tr>
              <tr>
                <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
                <td rowspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
                <td rowspan="1" style="width: 31%; vertical-align: top;">&#160;</td>
                <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
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              <tr>
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                <td rowspan="1" style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
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              <tr>
                <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
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              </tr>
              <tr>
                <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
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                </td>
                <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
              </tr>

          </table>
          <div style="clear: both;"><br>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement]</div>
        </div>
      </div>
      <br>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
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      <div>
        <div><br>
        </div>
        <div>
          <div>
            <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                <tr>
                  <td style="vertical-align: top;" colspan="4" rowspan="1">
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                    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                    <div>&#160;</div>
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                </tr>
                <tr>
                  <td style="vertical-align: top;" colspan="3">&#160;</td>
                  <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
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                <tr>
                  <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                  </td>
                  <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ James Haack</td>
                  <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
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                <tr>
                  <td style="width: 3%; vertical-align: top;">&#160;</td>
                  <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
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                  <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">James Haack</td>
                  <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
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                <tr>
                  <td style="width: 3%; vertical-align: top;">&#160;</td>
                  <td style="width: 4%; vertical-align: top;">
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                  <td style="width: 31%; vertical-align: top;">Director</td>
                  <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                </tr>

            </table>
            <div style="clear: both;"><br>
            </div>
            <div><br>
            </div>
            <div><br>
            </div>
            <div><br>
            </div>
            <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
          </div>
        </div>
      </div>
      <br>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
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      <div>
        <div>
          <div><br>
          </div>
          <div>
            <div>
              <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                  <tr>
                    <td style="vertical-align: top;" colspan="4" rowspan="1">
                      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">BARCLAYS BANK PLC,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
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                      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                      <div>&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="vertical-align: top;" colspan="3">&#160;</td>
                    <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                  </tr>
                  <tr>
                    <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                    </td>
                    <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Nicholas Sibayan</td>
                    <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
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                  <tr>
                    <td style="width: 3%; vertical-align: top;">&#160;</td>
                    <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
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                    <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Nicholas Sibayan</td>
                    <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
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                  <tr>
                    <td style="width: 3%; vertical-align: top;">&#160;</td>
                    <td style="width: 4%; vertical-align: top;">
                      <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
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                    <td style="width: 31%; vertical-align: top;">Vice President</td>
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              </table>
              <div style="clear: both;"><br>
              </div>
              <div><br>
              </div>
              <div><br>
              </div>
              <div><br>
              </div>
              <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
            </div>
          </div>
        </div>
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      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
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      <div>
        <div>
          <div>
            <div>
              <div>
                <div><br>
                  <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                      <tr>
                        <td style="vertical-align: top;" colspan="4" rowspan="1">
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Deutsche Bank AG New York Branch,</div>
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                          <div>&#160;</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="vertical-align: top;" colspan="3">&#160;</td>
                        <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                        </td>
                        <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Marko Lukin</td>
                        <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 3%; vertical-align: top;">&#160;</td>
                        <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
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                        <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Marko Lukin</td>
                        <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 3%; vertical-align: top;">&#160;</td>
                        <td style="width: 4%; vertical-align: top;">
                          <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                        </td>
                        <td style="width: 31%; vertical-align: top;">Vice President</td>
                        <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 31%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td rowspan="1" style="width: 3%; vertical-align: top; padding-bottom: 2px;">By:<br>
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                        <td colspan="2" rowspan="1" style="width: 4%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;">/s/ Ming K Chu</td>
                        <td rowspan="1" style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 4%; vertical-align: top;">Name: <br>
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                        <td rowspan="1" style="width: 31%; vertical-align: top;">Ming K Chu</td>
                        <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
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                      <tr>
                        <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 4%; vertical-align: top;">Title:</td>
                        <td rowspan="1" style="width: 31%; vertical-align: top;">Director <br>
                        </td>
                        <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>

                  </table>
                  <div style="clear: both;"><br>
                  </div>
                  <div><br>
                  </div>
                  <div><br>
                  </div>
                  <div>
                    <div><br>
                    </div>
                    <div><br>
                    </div>
                    <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
        <div>&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
        </div>
      </div>
    </div>
    <div>
      <div>
        <div><br>
        </div>
        <div>
          <div>
            <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                <tr>
                  <td style="vertical-align: top;" colspan="4" rowspan="1">
                    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: HSBC Bank USA, National Association,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
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                    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                    <div>&#160;</div>
                  </td>
                </tr>
                <tr>
                  <td style="vertical-align: top;" colspan="3">&#160;</td>
                  <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                  </td>
                  <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Aleem Shamji</td>
                  <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 3%; vertical-align: top;">&#160;</td>
                  <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                  </td>
                  <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Aleem Shamji</td>
                  <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 3%; vertical-align: top;">&#160;</td>
                  <td style="width: 4%; vertical-align: top;">
                    <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                  </td>
                  <td style="width: 31%; vertical-align: top;">Managing Director</td>
                  <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                </tr>

            </table>
            <div style="clear: both;"><br>
            </div>
            <div><br>
            </div>
            <div><br>
            </div>
            <div><br>
            </div>
            <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
          </div>
        </div>
      </div>
    </div>
    <div>&#160; <br>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
      </div>
      <div>
        <div>
          <div>
            <div><br>
            </div>
            <div>
              <div>
                <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                    <tr>
                      <td style="vertical-align: top;" colspan="4" rowspan="1">
                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: MIZUHO BANK, LTD.<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
                          </font></div>
                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                        <div>&#160;</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="vertical-align: top;" colspan="3">&#160;</td>
                      <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                      </td>
                      <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Edward Sacks</td>
                      <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td style="width: 3%; vertical-align: top;">&#160;</td>
                      <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                      </td>
                      <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Edward Sacks</td>
                      <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td style="width: 3%; vertical-align: top;">&#160;</td>
                      <td style="width: 4%; vertical-align: top;">
                        <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                      </td>
                      <td style="width: 31%; vertical-align: top;">Managing Director</td>
                      <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                    </tr>

                </table>
                <div style="clear: both;"><br>
                </div>
                <div><br>
                </div>
                <div><br>
                </div>
                <div><br>
                </div>
                <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
              </div>
            </div>
          </div>
        </div>
        <div>&#160; <br>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
            <div style="page-break-after: always;" class="BRPFPageBreak">
              <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
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        </div>
      </div>
      <div>
        <div>
          <div>
            <div>
              <div><br>
              </div>
              <div>
                <div>
                  <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                      <tr>
                        <td style="vertical-align: top;" colspan="4" rowspan="1">
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: MUFG Bank, Ltd.<font style="font-size: 10pt; font-family: 'Times New Roman';">,<br>
                            </font></div>
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                          <div>&#160;</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="vertical-align: top;" colspan="3">&#160;</td>
                        <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                        </td>
                        <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Eric Enberg</td>
                        <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 3%; vertical-align: top;">&#160;</td>
                        <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                        </td>
                        <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Eric Enberg</td>
                        <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 3%; vertical-align: top;">&#160;</td>
                        <td style="width: 4%; vertical-align: top;">
                          <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                        </td>
                        <td style="width: 31%; vertical-align: top;">Director</td>
                        <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>

                  </table>
                  <div style="clear: both;"><br>
                  </div>
                  <div><br>
                  </div>
                  <div><br>
                  </div>
                  <div><br>
                  </div>
                  <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <br>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
      </div>
      <div>
        <div>
          <div>
            <div>
              <div>
                <div><br>
                </div>
                <div>
                  <div>
                    <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                        <tr>
                          <td style="vertical-align: top;" colspan="4" rowspan="1">
                            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">SUMITOMO MITSUI BANKING CORPORATION,</div>
                            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                            <div>&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="vertical-align: top;" colspan="3">&#160;</td>
                          <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                        </tr>
                        <tr>
                          <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                          </td>
                          <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Irlen Mak</td>
                          <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                        </tr>
                        <tr>
                          <td style="width: 3%; vertical-align: top;">&#160;</td>
                          <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                          </td>
                          <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Irlen Mak</td>
                          <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                        </tr>
                        <tr>
                          <td style="width: 3%; vertical-align: top;">&#160;</td>
                          <td style="width: 4%; vertical-align: top;">
                            <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                          </td>
                          <td style="width: 31%; vertical-align: top;">Director</td>
                          <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                        </tr>

                    </table>
                    <div style="clear: both;"><br>
                    </div>
                    <div><br>
                    </div>
                    <div><br>
                    </div>
                    <div><br>
                    </div>
                    <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
      </div>
      <div>
        <div>
          <div>
            <div>
              <div>
                <div>
                  <div><br>
                  </div>
                  <div>
                    <div>
                      <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                          <tr>
                            <td style="vertical-align: top;" colspan="4" rowspan="1">
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                              <div>&#160;</div>
                            </td>
                          </tr>
                          <tr>
                            <td style="vertical-align: top;" colspan="3">&#160;</td>
                            <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                          </tr>
                          <tr>
                            <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                            </td>
                            <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Sid Khanolkar</td>
                            <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                          </tr>
                          <tr>
                            <td style="width: 3%; vertical-align: top;">&#160;</td>
                            <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
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                            </td>
                            <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Sid Khanolkar</td>
                            <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                          </tr>
                          <tr>
                            <td style="width: 3%; vertical-align: top;">&#160;</td>
                            <td style="width: 4%; vertical-align: top;">
                              <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                            </td>
                            <td style="width: 31%; vertical-align: top;">Managing Director</td>
                            <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                          </tr>

                      </table>
                      <div style="clear: both;"><br>
                      </div>
                      <div><br>
                      </div>
                      <div><br>
                      </div>
                      <div><br>
                      </div>
                      <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <br>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
      </div>
      <div>
        <div>
          <div>
            <div>
              <div>
                <div><br>
                  <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                      <tr>
                        <td style="vertical-align: top;" colspan="4" rowspan="1">
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: BANCO BILBAO VIZCAYA </div>
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160; ARGENTARIA, S.A. NEW YORK BRANCH,</div>
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                          <div>&#160;</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="vertical-align: top;" colspan="3">&#160;</td>
                        <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                        </td>
                        <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Brian Crowley</td>
                        <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 3%; vertical-align: top;">&#160;</td>
                        <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
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                        <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Brian Crowley</td>
                        <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
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                      <tr>
                        <td style="width: 3%; vertical-align: top;">&#160;</td>
                        <td style="width: 4%; vertical-align: top;">
                          <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
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                        <td style="width: 31%; vertical-align: top;">Managing Director</td>
                        <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 31%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td rowspan="1" style="width: 3%; vertical-align: top; padding-bottom: 2px;">By:<br>
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                        <td rowspan="1" style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
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                      <tr>
                        <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 4%; vertical-align: top;">Name: <br>
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                        <td rowspan="1" style="width: 31%; vertical-align: top;">Armen Semizian</td>
                        <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
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                      <tr>
                        <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 4%; vertical-align: top;">Title:</td>
                        <td rowspan="1" style="width: 31%; vertical-align: top;">Managing Director</td>
                        <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>

                  </table>
                  <div style="clear: both;"><br>
                  </div>
                  <div><br>
                  </div>
                  <div><br>
                  </div>
                  <div>
                    <div><br>
                    </div>
                    <div><br>
                    </div>
                    <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
        <div>&#160;</div>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
      </div>
      <div>
        <div>
          <div>
            <div>
              <div>
                <div>
                  <div>
                    <div><br>
                    </div>
                    <div>
                      <div>
                        <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                            <tr>
                              <td style="vertical-align: top;" colspan="4" rowspan="1">
                                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Canadian Imperial Bank of Commerce, New York Branch,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
                                  </font></div>
                                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                                <div>&#160;</div>
                              </td>
                            </tr>
                            <tr>
                              <td style="vertical-align: top;" colspan="3">&#160;</td>
                              <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                            </tr>
                            <tr>
                              <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                              </td>
                              <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Bernadette Murphy</td>
                              <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                            </tr>
                            <tr>
                              <td style="width: 3%; vertical-align: top;">&#160;</td>
                              <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                              </td>
                              <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Bernadette Murphy</td>
                              <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                            </tr>
                            <tr>
                              <td style="width: 3%; vertical-align: top;">&#160;</td>
                              <td style="width: 4%; vertical-align: top;">
                                <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                              </td>
                              <td style="width: 31%; vertical-align: top;">Managing Director &amp; Authorized Signatory</td>
                              <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                            </tr>

                        </table>
                        <div style="clear: both;"><br>
                        </div>
                        <div><br>
                        </div>
                        <div><br>
                        </div>
                        <div><br>
                        </div>
                        <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
      </div>
      <div>
        <div>
          <div>
            <div>
              <div>
                <div>
                  <div>
                    <div>
                      <div><br>
                      </div>
                      <div>
                        <div>
                          <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                              <tr>
                                <td style="vertical-align: top;" colspan="4" rowspan="1">
                                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: GOLDMAN SACHS BANK USA,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
                                    </font></div>
                                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                                  <div>&#160;</div>
                                </td>
                              </tr>
                              <tr>
                                <td style="vertical-align: top;" colspan="3">&#160;</td>
                                <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                              </tr>
                              <tr>
                                <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                                </td>
                                <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Dan Starr</td>
                                <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                              </tr>
                              <tr>
                                <td style="width: 3%; vertical-align: top;">&#160;</td>
                                <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                                </td>
                                <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Dan Starr</td>
                                <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                              </tr>
                              <tr>
                                <td style="width: 3%; vertical-align: top;">&#160;</td>
                                <td style="width: 4%; vertical-align: top;">
                                  <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                                </td>
                                <td style="width: 31%; vertical-align: top;">Authorized Signatory</td>
                                <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                              </tr>

                          </table>
                          <div style="clear: both;"><br>
                          </div>
                          <div><br>
                          </div>
                          <div><br>
                          </div>
                          <div><br>
                          </div>
                          <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <br>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
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      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">
        <div>
          <div>
            <div>
              <div>
                <div>
                  <div>
                    <div>
                      <div>
                        <div><br>
                        </div>
                        <div>
                          <div>
                            <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                                <tr>
                                  <td style="vertical-align: top;" colspan="4" rowspan="1">
                                    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">SOCIETE GENERALE,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
                                      </font></div>
                                    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                                    <div>&#160;</div>
                                  </td>
                                </tr>
                                <tr>
                                  <td style="vertical-align: top;" colspan="3">&#160;</td>
                                  <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                                </tr>
                                <tr>
                                  <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                                    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                                  </td>
                                  <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Jonathan Weinberger</td>
                                  <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                                </tr>
                                <tr>
                                  <td style="width: 3%; vertical-align: top;">&#160;</td>
                                  <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                                    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                                  </td>
                                  <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Jonathan Weinberger</td>
                                  <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                                </tr>
                                <tr>
                                  <td style="width: 3%; vertical-align: top;">&#160;</td>
                                  <td style="width: 4%; vertical-align: top;">
                                    <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                                  </td>
                                  <td style="width: 31%; vertical-align: top;">Managing Director</td>
                                  <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                                </tr>

                            </table>
                            <div style="clear: both;"><br>
                            </div>
                            <div><br>
                            </div>
                            <div><br>
                            </div>
                            <div><br>
                            </div>
                            <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
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      <br>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
      </div>
      <div>
        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">
          <div>
            <div>
              <div>
                <div>
                  <div>
                    <div>
                      <div>
                        <div>
                          <div><br>
                          </div>
                          <div>
                            <div>
                              <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                                  <tr>
                                    <td style="vertical-align: top;" colspan="4" rowspan="1">
                                      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: THE BANK OF NOVA SCOTIA,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
                                        </font></div>
                                      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                                      <div>&#160;</div>
                                    </td>
                                  </tr>
                                  <tr>
                                    <td style="vertical-align: top;" colspan="3">&#160;</td>
                                    <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                                  </tr>
                                  <tr>
                                    <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                                      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                                    </td>
                                    <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Yvonne Bai</td>
                                    <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                                  </tr>
                                  <tr>
                                    <td style="width: 3%; vertical-align: top;">&#160;</td>
                                    <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                                      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                                    </td>
                                    <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Yvonne Bai</td>
                                    <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                                  </tr>
                                  <tr>
                                    <td style="width: 3%; vertical-align: top;">&#160;</td>
                                    <td style="width: 4%; vertical-align: top;">
                                      <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                                    </td>
                                    <td style="width: 31%; vertical-align: top;">Director</td>
                                    <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                                  </tr>

                              </table>
                              <div style="clear: both;"><br>
                              </div>
                              <div><br>
                              </div>
                              <div><br>
                              </div>
                              <div><br>
                              </div>
                              <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <br>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
      </div>
      <div>
        <div>
          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">
            <div>
              <div>
                <div>
                  <div>
                    <div>
                      <div>
                        <div>
                          <div>
                            <div><br>
                            </div>
                            <div>
                              <div>
                                <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                                    <tr>
                                      <td style="vertical-align: top;" colspan="4" rowspan="1">
                                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>The Toronto-Dominion Bank, New York Branch</u></font>,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
                                          </font></div>
                                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                                        <div>&#160;</div>
                                      </td>
                                    </tr>
                                    <tr>
                                      <td style="vertical-align: top;" colspan="3">&#160;</td>
                                      <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                                    </tr>
                                    <tr>
                                      <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                                      </td>
                                      <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Allan Kortan</td>
                                      <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                                    </tr>
                                    <tr>
                                      <td style="width: 3%; vertical-align: top;">&#160;</td>
                                      <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                                      </td>
                                      <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Allan Kortan</td>
                                      <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                                    </tr>
                                    <tr>
                                      <td style="width: 3%; vertical-align: top;">&#160;</td>
                                      <td style="width: 4%; vertical-align: top;">
                                        <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                                      </td>
                                      <td style="width: 31%; vertical-align: top;">Authorized Signatory</td>
                                      <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                                    </tr>

                                </table>
                                <div style="clear: both;"><br>
                                </div>
                                <div><br>
                                </div>
                                <div><br>
                                </div>
                                <div><br>
                                </div>
                                <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
                              </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
      </div>
      <div>
        <div>
          <div>
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">
              <div>
                <div>
                  <div>
                    <div>
                      <div>
                        <div>
                          <div>
                            <div>
                              <div><br>
                              </div>
                              <div>
                                <div>
                                  <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                                      <tr>
                                        <td style="vertical-align: top;" colspan="4" rowspan="1">
                                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: Truist Bank,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
                                            </font></div>
                                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                                          <div>&#160;</div>
                                        </td>
                                      </tr>
                                      <tr>
                                        <td style="vertical-align: top;" colspan="3">&#160;</td>
                                        <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                                      </tr>
                                      <tr>
                                        <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                                        </td>
                                        <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Jim C. Wright</td>
                                        <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                                      </tr>
                                      <tr>
                                        <td style="width: 3%; vertical-align: top;">&#160;</td>
                                        <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                                        </td>
                                        <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Jim C. Wright</td>
                                        <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                                      </tr>
                                      <tr>
                                        <td style="width: 3%; vertical-align: top;">&#160;</td>
                                        <td style="width: 4%; vertical-align: top;">
                                          <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                                        </td>
                                        <td style="width: 31%; vertical-align: top;">Director</td>
                                        <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                                      </tr>

                                  </table>
                                  <div style="clear: both;"><br>
                                  </div>
                                  <div><br>
                                  </div>
                                  <div><br>
                                  </div>
                                  <div><br>
                                  </div>
                                  <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
                                </div>
                              </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <br>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
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          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
      </div>
      <div>
        <div>
          <div>
            <div>
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">
                <div>
                  <div>
                    <div>
                      <div>
                        <div>
                          <div>
                            <div>
                              <div>
                                <div><br>
                                </div>
                                <div>
                                  <div>
                                    <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                                        <tr>
                                          <td style="vertical-align: top;" colspan="4" rowspan="1">
                                            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: U.S. BANK NATIONAL ASSOCIATION,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
                                              </font></div>
                                            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                                            <div>&#160;</div>
                                          </td>
                                        </tr>
                                        <tr>
                                          <td style="vertical-align: top;" colspan="3">&#160;</td>
                                          <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                                        </tr>
                                        <tr>
                                          <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                                            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                                          </td>
                                          <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Matt S. Scullin</td>
                                          <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                                        </tr>
                                        <tr>
                                          <td style="width: 3%; vertical-align: top;">&#160;</td>
                                          <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                                            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                                          </td>
                                          <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Matt S. Scullin</td>
                                          <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                                        </tr>
                                        <tr>
                                          <td style="width: 3%; vertical-align: top;">&#160;</td>
                                          <td style="width: 4%; vertical-align: top;">
                                            <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                                          </td>
                                          <td style="width: 31%; vertical-align: top;">Senior Vice President</td>
                                          <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                                        </tr>

                                    </table>
                                    <div style="clear: both;"><br>
                                    </div>
                                    <div><br>
                                    </div>
                                    <div><br>
                                    </div>
                                    <div><br>
                                    </div>
                                    <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
                                  </div>
                                </div>
                              </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <br>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
      </div>
      <div>
        <div>
          <div>
            <div>
              <div>
                <div><br>
                  <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                      <tr>
                        <td style="vertical-align: top;" colspan="4" rowspan="1">
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">ING Bank N.V., Dublin Branch<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
                            </font>&#160;&#160; as a Lender</div>
                          <div>&#160;</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="vertical-align: top;" colspan="3">&#160;</td>
                        <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                        </td>
                        <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Padraig Matthews</td>
                        <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 3%; vertical-align: top;">&#160;</td>
                        <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                        </td>
                        <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Padraig Matthews</td>
                        <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 3%; vertical-align: top;">&#160;</td>
                        <td style="width: 4%; vertical-align: top;">
                          <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                        </td>
                        <td style="width: 31%; vertical-align: top;">Director</td>
                        <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 31%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td colspan="3" rowspan="1" style="width: 3%; vertical-align: top;">For any Lender requiring a second signature&#160;block:</td>
                        <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
                        <td colspan="2" rowspan="1" style="width: 4%; vertical-align: bottom; text-align: left;">&#160;</td>
                        <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td rowspan="1" style="width: 3%; vertical-align: top; padding-bottom: 2px;">By:<br>
                        </td>
                        <td colspan="2" rowspan="1" style="width: 4%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;">/s/ Rosemary Healy</td>
                        <td rowspan="1" style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 4%; vertical-align: top;">Name: <br>
                        </td>
                        <td rowspan="1" style="width: 31%; vertical-align: top;">Rosemary Healy</td>
                        <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 4%; vertical-align: top;">Title:</td>
                        <td rowspan="1" style="width: 31%; vertical-align: top;">Director</td>
                        <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>

                  </table>
                  <div style="clear: both;"><br>
                  </div>
                  <div><br>
                  </div>
                  <div><br>
                  </div>
                  <div>
                    <div><br>
                    </div>
                    <div><br>
                    </div>
                    <div style="text-align: center;">[Signature Page to Amendment No. 2 to Three-Year Credit Agreement] </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Schedule 1</u></div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;"><u>Schedule 1.1 to Three-Year Credit Agreement</u></div>
    <div><br>
    </div>
  </div>
  <div>
    <table cellspacing="0" cellpadding="2" border="0" id="z670a6f9f532e4cad950a9a34138f6f5c" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 67.92%; vertical-align: middle; background-color: #D9D9D9; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Lender</div>
          </td>
          <td style="width: 32.08%; vertical-align: middle; background-color: #D9D9D9; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Revolving Credit Commitment</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">JPMorgan Chase Bank, N.A.</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$175,000,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">BNP Paribas</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$175,000,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Citibank, N.A.</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$175,000,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Royal Bank of Canada</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$175,000,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Banco Santander, S.A., New York Branch</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$125,000,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Bank of America, N.A.</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$125,000,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Barclays Bank PLC</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$125,000,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Deutsche Bank AG New York Branch</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$125,000,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">HSBC Bank USA, N.A.</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$125,000,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Mizuho Bank, Ltd.</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$125,000,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">MUFG Bank, Ltd.</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$125,000,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Sumitomo Mitsui Banking Corporation</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$125,000,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Wells Fargo Bank, National Association</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$125,000,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Banco Bilbao Vizcaya Argentaria, S.A. New York Branch</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$84,375,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Canadian Imperial Bank of Commerce, New York Branch</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$84,375,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Goldman Sachs Bank USA</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$84,375,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Societe Generale</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$84,375,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">The Bank of Nova Scotia</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$84,375,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">The Toronto-Dominion Bank, New York Branch</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$84,375,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Truist Bank</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$84,375,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">U.S. Bank National Association</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$84,375,000.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 67.92%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total:</div>
          </td>
          <td nowrap="nowrap" style="width: 32.08%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">$2,500,000,000.00</div>
          </td>
        </tr>

    </table>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ex10-2.htm
<DESCRIPTION>AMENDMENT NO. 2 TO FIVE-YEAR CREDIT AGREEMENT
<TEXT>
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  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.2</font><br>
  </div>
  <div><br>
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  <div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">AMENDMENT NO. 2 TO FIVE-YEAR CREDIT AGREEMENT, dated as of June 20, 2025 (this &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Amendment</u></font>&#8221;),









      to the Five-Year Credit Agreement, dated as of June 22, 2021 (as amended by Amendment No. 1, dated as of June 30, 2022, and as further amended, supplemented or otherwise modified from time to time, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Credit Agreement</u></font>&#8221;), among INTERNATIONAL BUSINESS MACHINES CORPORATION (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>IBM</u></font>&#8221; or the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Borrower</u></font>&#8221;), the Lenders from time to time party thereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent. Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Amended
      Credit Agreement (as defined below).</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">RECITALS</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">WHEREAS, the Borrower has requested an extension of the Termination Date under the Credit Agreement and certain Lenders (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Extending Lenders</u></font>&#8221;), which, after giving effect to Section 2 of this Amendment, will collectively constitute the Required Lenders, are willing to extend the Termination Date on the terms and
      subject to the conditions set forth herein (such extension, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>2025 Extension</u></font>&#8221;);</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">WHEREAS, certain Lenders (each, an &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Assigning Lender</u></font>&#8221;) have agreed to
      assign all or a part of their respective Commitments to certain Extending Lenders (each, an &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Assuming Lender</u></font>&#8221;) on the terms and subject to the conditions set forth herein;</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">WHEREAS, notwithstanding anything to the contrary in the Credit Agreement, each of the parties hereto agrees that this Amendment (i) constitutes an
      Extension Request by the Borrower (and acceptance of such request by each Extending Lender) pursuant to <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Section 2.21(a)</u></font> of the Credit Agreement and (ii) shall satisfy all
      requirements set forth in <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Section 2.21</u></font> for the purposes of this Extension Request; and</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">WHEREAS, pursuant to, and in compliance with the requirements of, <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Section 11.1</u></font>
      of the Credit Agreement, the Lenders are willing to agree to this Amendment on the terms set forth herein.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, the parties hereto agree as follows:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">SECTION 1.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Amendments to Credit Agreement</u></font>. Effective as of the Amendment No. 2 Effective Date (as defined below) immediately after giving effect to <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Section 2</u></font>
      of this Amendment:</div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">the existing <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Schedule 1.1</u></font> to the Credit Agreement is hereby amended and restated in its entirety as set forth in the attached <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Schedule 1</u></font>
        hereto; and</font></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">the definition of &#8220;Termination Date&#8221; set
        forth in <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Section 1.1</u></font> of the Credit Agreement is hereby amended and restated in its entirety as follows:</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 72pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">Termination Date</font>&#8221;: June 22, 2030, as such date may be
      extended pursuant to Section 2.21 (or if such date is not a Business Day, the Business Day immediately prior thereto).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">SECTION 2.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Assignment and Assumption</u></font>.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">Subject to the satisfaction of the
        conditions set forth in <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Section 3</u></font> hereof, (i) each of the Assuming Lenders severally agrees to purchase, on the terms and subject to the conditions set forth in the
        Assignment and Assumption attached as <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Exhibit E</u></font> to the Credit Agreement (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Assignment and Assumption</u></font>&#8221;)









        (and subject to and in accordance with the Standard Terms and Conditions set forth on Annex 1 thereto and the other requirements therein which are hereby agreed to by each Assuming Lender and incorporated herein by reference and made a part of this
        <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Section 2</u></font> as if set forth herein in full (as incorporated herein, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Standard Terms and Conditions</u></font>&#8221;)),









        collectively, certain Commitments from the Assigning Lenders and the related Assigned Interests (as defined in the Assignment and Assumption) and (ii) each of the Assigning Lenders hereby agrees to assign, on the terms and subject to the conditions
        set forth in the Assignment and Assumption (and subject to and in accordance with the Standard Terms and Conditions, which are hereby agreed to by each Assigning Lender), such Commitments and the related Assigned Interests to the Assuming Lenders,
        in each case, in such amounts as required to give effect to the Commitments of the Lenders set forth in <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Schedule 1</u></font> hereto (collectively, the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Assignments</u></font>&#8221;).&#160; Such assignments and assumptions shall be effective on the Amendment No. 2 Effective Date immediately prior to giving effect to the amendments set forth in <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Section 1</u></font> hereof, with each Assuming Lender constituting an Assignee (as defined in the Assignment and Assumption) for purposes of the Assignments (including the Standard
        Terms and Conditions) and each Assigning Lender constituting an Assignor (as defined in the Assignment and Assumption) for purposes of the Assignments (including the Standard Terms and Conditions).</font></div>
    <div><br>
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    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">The Borrower and the Administrative
        Agent hereby consent to the Assignments. In connection with the Assignments and for purposes of the Assignments only, the Administrative Agent hereby waives the processing and recordation fees set forth in <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Section 11.8(b)</u></font> of the Credit Agreement.</font></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">After giving effect to the Assignments,
        the Commitments of each Lender shall be as set forth in <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Schedule 1</u></font> hereto.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">SECTION 3.&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Conditions to Effectiveness of this Amendment</u></font>. This Amendment shall become effective (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Amendment No. 2 Effective Date</u></font>&#8221;) upon the
      satisfaction of the following conditions precedent:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">the Administrative Agent (or its
        counsel) shall have received duly executed counterparts hereof that, when taken together, bear the signatures of the Borrower and Lenders representing all the Lenders;</font></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">the Administrative Agent shall have
        received all documentation and other information about IBM as has been reasonably requested in writing at least five days prior to the Amendment No. 2 Effective Date by the Administrative Agent (on behalf of itself or any Lender) that is required
        by regulatory authorities under applicable &#8220;know your customer&#8221; and anti-money laundering rules and regulations, including the PATRIOT Act; and</font></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">on or before the Amendment No. 2
        Effective Date, the Administrative Agent shall have received, for its own account and the account of each Lender, as applicable, the fees and expenses in the amounts and on the dates previously agreed to in writing by IBM in connection with this
        Amendment.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">SECTION 4.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Effects on Credit Agreement</u></font>.&#160; Except as specifically amended herein, all provisions of the Credit Agreement shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.&#160; Except as
      otherwise expressly provided herein, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under the Credit Agreement or constitute a waiver
      of or consent to any departure from any term or provision of the Credit Agreement or to any further or future action on the part of the Borrower that would require a waiver or consent of the Required Lenders, all the Lenders or the Administrative
      Agent, as applicable.&#160; Upon and after the execution of this Amendment by each of the parties hereto, each reference in the Credit Agreement to &#8220;this Agreement&#8221;, &#8220;hereunder&#8221;, &#8220;hereof&#8221; or words of like import referring to the Credit Agreement shall
      mean and be a reference to the Amended Credit Agreement.</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">SECTION 5.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Representations and Warranties of the Borrower</u></font>. The Borrower hereby represents and warrants as follows:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">as of the Amendment No. 2 Effective
        Date, each of the representations and warranties made by the Borrower in or pursuant to the Amended Credit Agreement shall be true and correct in all material respects (without duplication of any materiality qualifier contained therein) on and as
        of the Amendment No. 2 Effective Date as if made on and as of the Amendment No. 2 Effective Date, except to the extent such representations and warranties expressly relate to an earlier date; and</font></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">both immediately prior to and after
        giving effect to this Amendment, no Default or Event of Default shall have occurred and be continuing on the Amendment No. 2 Effective Date.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">SECTION 6.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Expenses</u></font>.&#160; The Borrower shall reimburse the Administrative Agent for all reasonable and documented out-of-pocket costs and expenses, including, reasonable and documented attorneys&#8217; fees, in connection with or relating to
      this Amendment.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">SECTION 7.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Integration</u></font>.&#160; This Amendment represents the agreement of the Borrower, the Administrative Agent and the Lenders with respect to the subject matter hereof, and there are no promises, undertakings, representations or
      warranties by the Administrative Agent or any Lender relative to subject matter hereof not expressly set forth or referred to herein.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">SECTION 8.&#160; </font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>GOVERNING LAW; WAIVER OF JURY TRIAL</u></font>.&#160; THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW
      YORK. EACH OF THE BORROWER, THE ADMINISTRATIVE AGENT AND THE LENDERS HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AMENDMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY AND FOR ANY
      COUNTERCLAIM THEREIN.&#160; THE PROVISIONS OF <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>SECTION 11.17</u></font> OF THE CREDIT AGREEMENT SHALL APPLY TO THIS AMENDMENT TO THE SAME EXTENT AS IF FULLY SET FORTH HEREIN.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">SECTION 9.</font><font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Counterparts; Electronic Execution</u></font>.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">This Amendment may be executed by one
        or more of the parties to this Amendment on any number of separate counterparts (including by email or telecopy), and all of said counterparts taken together shall be deemed to constitute one and the same instrument.&#160; Delivery of an executed
        signature page of this Agreement by email or facsimile transmission shall be effective as delivery of a manually executed counterpart hereof.&#160; A set of the copies of this Amendment signed by all the parties shall be lodged with the Borrower and the
        Administrative Agent.</font></div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 72pt;">
      <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman';">Delivery of an executed counterpart of a
          signature page of this Amendment that is an electronic sound, symbol, or process attached to, or associated with, a contract or other record and adopted by a Person with the intent to sign, authenticate or accept such contract or record (an &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman';"><u>Electronic Signature</u></font>&#8221;) transmitted by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page shall be effective
          as delivery of a manually executed counterpart of this Amendment.&#160; The words &#8220;execution,&#8221; &#8220;signed,&#8221; &#8220;signature,&#8221; &#8220;delivery,&#8221; and words of like import in or relating to this Amendment shall be deemed to include Electronic Signatures, deliveries or
          the keeping of records in any electronic form (including deliveries by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page), each of which shall be of the same legal effect, validity
          or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be; provided that nothing in this Amendment </font>shall require the Administrative Agent to accept
        Electronic Signatures in any form or format without its prior written consent and pursuant to procedures approved by it; provided, further, without limiting the foregoing, (i) to the extent the Administrative Agent has agreed to accept any
        Electronic Signature, the Administrative Agent and each of the Lenders shall be entitled to rely on such Electronic Signature purportedly given by or on behalf of the Borrower without further verification thereof and without any obligation to
        review the appearance or form of any such Electronic Signature and (ii) upon the request of the Administrative Agent or any Lender, any Electronic Signature&#160; shall be promptly followed by a manually executed counterpart.&#160; Without limiting the
        generality of the foregoing, the Borrower hereby (i) agrees that, for all purposes, including without limitation, in connection with any workout, restructuring, enforcement of remedies, bankruptcy proceedings or litigation among the Administrative
        Agent, the Lenders and the Borrower, Electronic Signatures transmitted by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page and/or any electronic images of this Amendment shall have
        the same legal effect, validity and enforceability as any paper original, (ii) agrees that the Administrative Agent and each of the Lenders may, at its option, create one or more copies of this Amendment in the form of an imaged electronic record
        in any format, which shall be deemed created in the ordinary course of such Person&#8217;s business, and destroy the original paper document (and all such electronic records shall be considered an original for all purposes and shall have the same legal
        effect, validity and enforceability as a paper record), (iii) waives any argument, defense or right to contest the legal effect, validity or enforceability of this Amendment based solely on the lack of paper original copies of this Amendment,
        including with respect to any signature pages thereto and (iv) waives any claim against any indemnified person for any Liabilities arising solely from the Administrative Agent&#8217;s and/or any Lender&#8217;s reliance on or use of Electronic Signatures and/or
        transmissions by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page, including any indemnified liabilities arising as a result of the failure of the Borrower to use any available
        security measures in connection with the execution, delivery or transmission of any Electronic Signature. </div>
      <div><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">[<font style="font-size: 10pt; font-family: 'Times New Roman'; font-style: italic;">Signature Pages Follow</font>]</div>
    </div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="text-align: center;" class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman'; font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">IN WITNESS WHEREOF</font>, the parties hereto have caused this
      Amendment to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.</div>
    <div><br>
    </div>
    <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;" id="ze36e4bba962a45b1917850357a9e5ae8">

        <tr>
          <td colspan="4" style="vertical-align: top;" rowspan="1">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">INTERNATIONAL BUSINESS MACHINES CORPORATION,</div>
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;as the Borrower</div>
          </td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top;">&#160;</td>
          <td colspan="1" style="vertical-align: top; width: 12%;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
          </td>
          <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">&#160;/s/ Mark Hobbert</td>
          <td style="width: 12%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Name:</font> <br>
            </div>
          </td>
          <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Mark Hobbert<br>
          </td>
          <td style="width: 12%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 4%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Title:</font><br>
            </div>
          </td>
          <td style="width: 31%; vertical-align: top;">Vice President and Assistant Treasurer<br>
          </td>
          <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
        </tr>

    </table>
    <div style="clear: both;"><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <table align="right" cellspacing="0" cellpadding="0" border="0" id="ze6b5ffd0ca6b45438178f03279c798db" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

        <tr>
          <td style="vertical-align: top;" colspan="4" rowspan="1">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">JPMORGAN CHASE BANK, N.A.,</div>
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as the Administrative Agent and a Lender</div>
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top;" colspan="3">&#160;</td>
          <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
          </td>
          <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Melanie George<br>
          </td>
          <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
          </td>
          <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Melanie George <br>
          </td>
          <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 4%; vertical-align: top;">
            <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
          </td>
          <td style="width: 31%; vertical-align: top;">Vice President<br>
          </td>
          <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
        </tr>

    </table>
    <div style="clear: both;"><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement]</div>
    <div><br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div>
      <div><br>
        <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

            <tr>
              <td style="vertical-align: top;" colspan="4" rowspan="1">
                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">BNP PARIBAS,</div>
                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                <div>&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top;" colspan="3">&#160;</td>
              <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
              </td>
              <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Michael Kowalczuk</td>
              <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
              </td>
              <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Michael Kowalczuk</td>
              <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 4%; vertical-align: top;">
                <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
              </td>
              <td style="width: 31%; vertical-align: top;">Managing Director</td>
              <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
              <td rowspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
              <td rowspan="1" style="width: 31%; vertical-align: top;">&#160;</td>
              <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 3%; vertical-align: top; padding-bottom: 2px;">By:<br>
              </td>
              <td colspan="2" rowspan="1" style="width: 4%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;">/s/ Maria Mulic<br>
              </td>
              <td rowspan="1" style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
              <td rowspan="1" style="width: 4%; vertical-align: top;">Name: <br>
              </td>
              <td rowspan="1" style="width: 31%; vertical-align: top;">Maria Mulic</td>
              <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
              <td rowspan="1" style="width: 4%; vertical-align: top;">Title:</td>
              <td rowspan="1" style="width: 31%; vertical-align: top;">Managing Director <br>
              </td>
              <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
            </tr>

        </table>
        <div style="clear: both;"><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement]</div>
      </div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
      </div>
      <div>
        <div><br>
        </div>
        <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

            <tr>
              <td style="vertical-align: top;" colspan="4" rowspan="1">
                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: CITIBANK, N.A.,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
                  </font></div>
                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                <div>&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top;" colspan="3">&#160;</td>
              <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
              </td>
              <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Susan Olsen</td>
              <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
              </td>
              <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Susan Olsen</td>
              <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 4%; vertical-align: top;">
                <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
              </td>
              <td style="width: 31%; vertical-align: top;">Vice President<br>
              </td>
              <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
            </tr>

        </table>
        <div style="clear: both;"><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
      </div>
      <br>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
      </div>
      <div><br>
      </div>
      <div>
        <div>
          <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

              <tr>
                <td style="vertical-align: top;" colspan="4" rowspan="1">
                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: ROYAL BANK OF CANADA,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
                    </font></div>
                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                  <div>&#160;</div>
                </td>
              </tr>
              <tr>
                <td style="vertical-align: top;" colspan="3">&#160;</td>
                <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
              </tr>
              <tr>
                <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                </td>
                <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Theodore Brown</td>
                <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
              </tr>
              <tr>
                <td style="width: 3%; vertical-align: top;">&#160;</td>
                <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                </td>
                <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Theodore Brown</td>
                <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
              </tr>
              <tr>
                <td style="width: 3%; vertical-align: top;">&#160;</td>
                <td style="width: 4%; vertical-align: top;">
                  <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                </td>
                <td style="width: 31%; vertical-align: top;">Authorized Signatory</td>
                <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
              </tr>

          </table>
          <div style="clear: both;"><br>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
        </div>
      </div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
      </div>
      <div>
        <div><br>
          <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

              <tr>
                <td style="vertical-align: top;" colspan="4" rowspan="1">
                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">BANCO SANTANDER, S.A., NEW YORK BRANCH,</div>
                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                  <div>&#160;</div>
                </td>
              </tr>
              <tr>
                <td style="vertical-align: top;" colspan="3">&#160;</td>
                <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
              </tr>
              <tr>
                <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                </td>
                <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Andres Barbosa</td>
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                <td style="width: 3%; vertical-align: top;">&#160;</td>
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              <tr>
                <td style="width: 3%; vertical-align: top;">&#160;</td>
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              <tr>
                <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
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                <td rowspan="1" style="width: 31%; vertical-align: top;">&#160;</td>
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              <tr>
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              <tr>
                <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
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              <tr>
                <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
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          <div style="clear: both;"><br>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement]</div>
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      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
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      <div>
        <div><br>
        </div>
        <div>
          <div>
            <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

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                <tr>
                  <td style="vertical-align: top;" colspan="3">&#160;</td>
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                <tr>
                  <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
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                <tr>
                  <td style="width: 3%; vertical-align: top;">&#160;</td>
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                <tr>
                  <td style="width: 3%; vertical-align: top;">&#160;</td>
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            <div style="clear: both;"><br>
            </div>
            <div><br>
            </div>
            <div><br>
            </div>
            <div><br>
            </div>
            <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
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      <br>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
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      <div>
        <div>
          <div><br>
          </div>
          <div>
            <div>
              <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                  <tr>
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                      <div>&#160;</div>
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                  <tr>
                    <td style="vertical-align: top;" colspan="3">&#160;</td>
                    <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
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                  <tr>
                    <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
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                    <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
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                  <tr>
                    <td style="width: 3%; vertical-align: top;">&#160;</td>
                    <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
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                    <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Nicholas Sibayan</td>
                    <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                  </tr>
                  <tr>
                    <td style="width: 3%; vertical-align: top;">&#160;</td>
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                      <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
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                  </tr>

              </table>
              <div style="clear: both;"><br>
              </div>
              <div><br>
              </div>
              <div><br>
              </div>
              <div><br>
              </div>
              <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
            </div>
          </div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
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      <div>
        <div>
          <div>
            <div>
              <div>
                <div><br>
                  <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                      <tr>
                        <td style="vertical-align: top;" colspan="4" rowspan="1">
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Deutsche Bank AG New York Branch,</div>
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                          <div>&#160;</div>
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                      </tr>
                      <tr>
                        <td style="vertical-align: top;" colspan="3">&#160;</td>
                        <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
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                        </td>
                        <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Marko Lukin</td>
                        <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 3%; vertical-align: top;">&#160;</td>
                        <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
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                        <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Marko Lukin</td>
                        <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 3%; vertical-align: top;">&#160;</td>
                        <td style="width: 4%; vertical-align: top;">
                          <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
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                        <td style="width: 31%; vertical-align: top;">Vice President</td>
                        <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 31%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td rowspan="1" style="width: 3%; vertical-align: top; padding-bottom: 2px;">By:<br>
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                        <td colspan="2" rowspan="1" style="width: 4%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;">/s/ Ming K Chu</td>
                        <td rowspan="1" style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
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                        <td rowspan="1" style="width: 31%; vertical-align: top;">Ming K Chu</td>
                        <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
                        <td rowspan="1" style="width: 4%; vertical-align: top;">Title:</td>
                        <td rowspan="1" style="width: 31%; vertical-align: top;">Director <br>
                        </td>
                        <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>

                  </table>
                  <div style="clear: both;"><br>
                  </div>
                  <div><br>
                  </div>
                  <div><br>
                  </div>
                  <div>
                    <div><br>
                    </div>
                    <div><br>
                    </div>
                    <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
        <div>&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
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            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
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    </div>
    <div>
      <div>
        <div><br>
        </div>
        <div>
          <div>
            <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                <tr>
                  <td style="vertical-align: top;" colspan="4" rowspan="1">
                    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: HSBC Bank USA, National Association,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
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                    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                    <div>&#160;</div>
                  </td>
                </tr>
                <tr>
                  <td style="vertical-align: top;" colspan="3">&#160;</td>
                  <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
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                  </td>
                  <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Aleem Shamji</td>
                  <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 3%; vertical-align: top;">&#160;</td>
                  <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                  </td>
                  <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Aleem Shamji</td>
                  <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 3%; vertical-align: top;">&#160;</td>
                  <td style="width: 4%; vertical-align: top;">
                    <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
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                  <td style="width: 31%; vertical-align: top;">Managing Director</td>
                  <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                </tr>

            </table>
            <div style="clear: both;"><br>
            </div>
            <div><br>
            </div>
            <div><br>
            </div>
            <div><br>
            </div>
            <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
          </div>
        </div>
      </div>
    </div>
    &#160; <br>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
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    <div>
      <div>
        <div>
          <div><br>
          </div>
          <div>
            <div>
              <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                  <tr>
                    <td style="vertical-align: top;" colspan="4" rowspan="1">
                      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: MIZUHO BANK, LTD.<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
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                      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                      <div>&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="vertical-align: top;" colspan="3">&#160;</td>
                    <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                  </tr>
                  <tr>
                    <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
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                    </td>
                    <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Edward Sacks</td>
                    <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                  </tr>
                  <tr>
                    <td style="width: 3%; vertical-align: top;">&#160;</td>
                    <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
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                    <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Edward Sacks</td>
                    <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                  </tr>
                  <tr>
                    <td style="width: 3%; vertical-align: top;">&#160;</td>
                    <td style="width: 4%; vertical-align: top;">
                      <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                    </td>
                    <td style="width: 31%; vertical-align: top;">Managing Director</td>
                    <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                  </tr>

              </table>
              <div style="clear: both;"><br>
              </div>
              <div><br>
              </div>
              <div><br>
              </div>
              <div><br>
              </div>
              <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
            </div>
          </div>
        </div>
      </div>
      <div>&#160; <br>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div>
      <div>
        <div>
          <div>
            <div><br>
            </div>
            <div>
              <div>
                <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                    <tr>
                      <td style="vertical-align: top;" colspan="4" rowspan="1">
                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: MUFG Bank, Ltd.<font style="font-size: 10pt; font-family: 'Times New Roman';">,<br>
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                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                        <div>&#160;</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="vertical-align: top;" colspan="3">&#160;</td>
                      <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                      </td>
                      <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Eric Enberg</td>
                      <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td style="width: 3%; vertical-align: top;">&#160;</td>
                      <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                      </td>
                      <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Eric Enberg</td>
                      <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td style="width: 3%; vertical-align: top;">&#160;</td>
                      <td style="width: 4%; vertical-align: top;">
                        <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                      </td>
                      <td style="width: 31%; vertical-align: top;">Director</td>
                      <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                    </tr>

                </table>
                <div style="clear: both;"><br>
                </div>
                <div><br>
                </div>
                <div><br>
                </div>
                <div><br>
                </div>
                <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <br>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
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    <div>
      <div>
        <div>
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            <div>
              <div><br>
              </div>
              <div>
                <div>
                  <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                      <tr>
                        <td style="vertical-align: top;" colspan="4" rowspan="1">
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">SUMITOMO MITSUI BANKING CORPORATION,</div>
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                          <div>&#160;</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="vertical-align: top;" colspan="3">&#160;</td>
                        <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                        </td>
                        <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Irlen Mak</td>
                        <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
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                      <tr>
                        <td style="width: 3%; vertical-align: top;">&#160;</td>
                        <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                        </td>
                        <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Irlen Mak</td>
                        <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 3%; vertical-align: top;">&#160;</td>
                        <td style="width: 4%; vertical-align: top;">
                          <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
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                        <td style="width: 31%; vertical-align: top;">Director</td>
                        <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                      </tr>

                  </table>
                  <div style="clear: both;"><br>
                  </div>
                  <div><br>
                  </div>
                  <div><br>
                  </div>
                  <div><br>
                  </div>
                  <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
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              </div>
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          </div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
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    <div>
      <div>
        <div>
          <div>
            <div>
              <div>
                <div><br>
                </div>
                <div>
                  <div>
                    <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                        <tr>
                          <td style="vertical-align: top;" colspan="4" rowspan="1">
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                            <div>&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="vertical-align: top;" colspan="3">&#160;</td>
                          <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                        </tr>
                        <tr>
                          <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                          </td>
                          <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Sid Khanolkar</td>
                          <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                        </tr>
                        <tr>
                          <td style="width: 3%; vertical-align: top;">&#160;</td>
                          <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
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                          </td>
                          <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Sid Khanolkar</td>
                          <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                        </tr>
                        <tr>
                          <td style="width: 3%; vertical-align: top;">&#160;</td>
                          <td style="width: 4%; vertical-align: top;">
                            <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                          </td>
                          <td style="width: 31%; vertical-align: top;">Managing Director</td>
                          <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                        </tr>

                    </table>
                    <div style="clear: both;"><br>
                    </div>
                    <div><br>
                    </div>
                    <div><br>
                    </div>
                    <div><br>
                    </div>
                    <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <br>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div>
      <div>
        <div>
          <div>
            <div>
              <div><br>
                <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                    <tr>
                      <td style="vertical-align: top;" colspan="4" rowspan="1">
                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: BANCO BILBAO VIZCAYA </div>
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                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                        <div>&#160;</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="vertical-align: top;" colspan="3">&#160;</td>
                      <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                      </td>
                      <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Brian Crowley</td>
                      <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td style="width: 3%; vertical-align: top;">&#160;</td>
                      <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
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                      <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Brian Crowley</td>
                      <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td style="width: 3%; vertical-align: top;">&#160;</td>
                      <td style="width: 4%; vertical-align: top;">
                        <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                      </td>
                      <td style="width: 31%; vertical-align: top;">Managing Director</td>
                      <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
                      <td rowspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
                      <td rowspan="1" style="width: 31%; vertical-align: top;">&#160;</td>
                      <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td rowspan="1" style="width: 3%; vertical-align: top; padding-bottom: 2px;">By:<br>
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                      <td rowspan="1" style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
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                    <tr>
                      <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
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                      <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
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                    <tr>
                      <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
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                      <td rowspan="1" style="width: 31%; vertical-align: top;">Managing Director</td>
                      <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
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                </table>
                <div style="clear: both;"><br>
                </div>
                <div><br>
                </div>
                <div><br>
                </div>
                <div>
                  <div><br>
                  </div>
                  <div><br>
                  </div>
                  <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
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    <div>
      <div>
        <div>
          <div>
            <div>
              <div>
                <div>
                  <div><br>
                  </div>
                  <div>
                    <div>
                      <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                          <tr>
                            <td style="vertical-align: top;" colspan="4" rowspan="1">
                              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Canadian Imperial Bank of Commerce, New York Branch,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
                                </font></div>
                              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                              <div>&#160;</div>
                            </td>
                          </tr>
                          <tr>
                            <td style="vertical-align: top;" colspan="3">&#160;</td>
                            <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                          </tr>
                          <tr>
                            <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                            </td>
                            <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Bernadette Murphy</td>
                            <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                          </tr>
                          <tr>
                            <td style="width: 3%; vertical-align: top;">&#160;</td>
                            <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                            </td>
                            <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Bernadette Murphy</td>
                            <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                          </tr>
                          <tr>
                            <td style="width: 3%; vertical-align: top;">&#160;</td>
                            <td style="width: 4%; vertical-align: top;">
                              <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                            </td>
                            <td style="width: 31%; vertical-align: top;">Managing Director &amp; Authorized Signatory</td>
                            <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                          </tr>

                      </table>
                      <div style="clear: both;"><br>
                      </div>
                      <div><br>
                      </div>
                      <div><br>
                      </div>
                      <div><br>
                      </div>
                      <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div>
      <div>
        <div>
          <div>
            <div>
              <div>
                <div>
                  <div>
                    <div><br>
                    </div>
                    <div>
                      <div>
                        <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                            <tr>
                              <td style="vertical-align: top;" colspan="4" rowspan="1">
                                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: GOLDMAN SACHS BANK USA,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
                                  </font></div>
                                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                                <div>&#160;</div>
                              </td>
                            </tr>
                            <tr>
                              <td style="vertical-align: top;" colspan="3">&#160;</td>
                              <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                            </tr>
                            <tr>
                              <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                              </td>
                              <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Dan Starr</td>
                              <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                            </tr>
                            <tr>
                              <td style="width: 3%; vertical-align: top;">&#160;</td>
                              <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                                <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                              </td>
                              <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Dan Starr</td>
                              <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                            </tr>
                            <tr>
                              <td style="width: 3%; vertical-align: top;">&#160;</td>
                              <td style="width: 4%; vertical-align: top;">
                                <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                              </td>
                              <td style="width: 31%; vertical-align: top;">Authorized Signatory</td>
                              <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                            </tr>

                        </table>
                        <div style="clear: both;"><br>
                        </div>
                        <div><br>
                        </div>
                        <div><br>
                        </div>
                        <div><br>
                        </div>
                        <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <br>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
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    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">
      <div>
        <div>
          <div>
            <div>
              <div>
                <div>
                  <div>
                    <div>
                      <div><br>
                      </div>
                      <div>
                        <div>
                          <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                              <tr>
                                <td style="vertical-align: top;" colspan="4" rowspan="1">
                                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">SOCIETE GENERALE,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
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                                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                                  <div>&#160;</div>
                                </td>
                              </tr>
                              <tr>
                                <td style="vertical-align: top;" colspan="3">&#160;</td>
                                <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                              </tr>
                              <tr>
                                <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                                </td>
                                <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Jonathan Weinberger</td>
                                <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                              </tr>
                              <tr>
                                <td style="width: 3%; vertical-align: top;">&#160;</td>
                                <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                                  <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                                </td>
                                <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Jonathan Weinberger</td>
                                <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                              </tr>
                              <tr>
                                <td style="width: 3%; vertical-align: top;">&#160;</td>
                                <td style="width: 4%; vertical-align: top;">
                                  <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                                </td>
                                <td style="width: 31%; vertical-align: top;">Managing Director</td>
                                <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                              </tr>

                          </table>
                          <div style="clear: both;"><br>
                          </div>
                          <div><br>
                          </div>
                          <div><br>
                          </div>
                          <div><br>
                          </div>
                          <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
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    <br>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    <div>
      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">
        <div>
          <div>
            <div>
              <div>
                <div>
                  <div>
                    <div>
                      <div>
                        <div><br>
                        </div>
                        <div>
                          <div>
                            <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                                <tr>
                                  <td style="vertical-align: top;" colspan="4" rowspan="1">
                                    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: THE BANK OF NOVA SCOTIA,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
                                      </font></div>
                                    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                                    <div>&#160;</div>
                                  </td>
                                </tr>
                                <tr>
                                  <td style="vertical-align: top;" colspan="3">&#160;</td>
                                  <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                                </tr>
                                <tr>
                                  <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                                    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                                  </td>
                                  <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Yvonne Bai</td>
                                  <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                                </tr>
                                <tr>
                                  <td style="width: 3%; vertical-align: top;">&#160;</td>
                                  <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                                    <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                                  </td>
                                  <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Yvonne Bai</td>
                                  <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                                </tr>
                                <tr>
                                  <td style="width: 3%; vertical-align: top;">&#160;</td>
                                  <td style="width: 4%; vertical-align: top;">
                                    <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                                  </td>
                                  <td style="width: 31%; vertical-align: top;">Director</td>
                                  <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                                </tr>

                            </table>
                            <div style="clear: both;"><br>
                            </div>
                            <div><br>
                            </div>
                            <div><br>
                            </div>
                            <div><br>
                            </div>
                            <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <br>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div>
      <div>
        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">
          <div>
            <div>
              <div>
                <div>
                  <div>
                    <div>
                      <div>
                        <div>
                          <div><br>
                          </div>
                          <div>
                            <div>
                              <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                                  <tr>
                                    <td style="vertical-align: top;" colspan="4" rowspan="1">
                                      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: <font style="font-size: 10pt; font-family: 'Times New Roman';"><u>The Toronto-Dominion Bank, New York Branch</u></font>,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
                                        </font></div>
                                      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                                      <div>&#160;</div>
                                    </td>
                                  </tr>
                                  <tr>
                                    <td style="vertical-align: top;" colspan="3">&#160;</td>
                                    <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                                  </tr>
                                  <tr>
                                    <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                                      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                                    </td>
                                    <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Allan Kortan</td>
                                    <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                                  </tr>
                                  <tr>
                                    <td style="width: 3%; vertical-align: top;">&#160;</td>
                                    <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                                      <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                                    </td>
                                    <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Allan Kortan</td>
                                    <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                                  </tr>
                                  <tr>
                                    <td style="width: 3%; vertical-align: top;">&#160;</td>
                                    <td style="width: 4%; vertical-align: top;">
                                      <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                                    </td>
                                    <td style="width: 31%; vertical-align: top;">Authorized Signatory</td>
                                    <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                                  </tr>

                              </table>
                              <div style="clear: both;"><br>
                              </div>
                              <div><br>
                              </div>
                              <div><br>
                              </div>
                              <div><br>
                              </div>
                              <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div>
      <div>
        <div>
          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">
            <div>
              <div>
                <div>
                  <div>
                    <div>
                      <div>
                        <div>
                          <div>
                            <div><br>
                            </div>
                            <div>
                              <div>
                                <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                                    <tr>
                                      <td style="vertical-align: top;" colspan="4" rowspan="1">
                                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: Truist Bank,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
                                          </font></div>
                                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                                        <div>&#160;</div>
                                      </td>
                                    </tr>
                                    <tr>
                                      <td style="vertical-align: top;" colspan="3">&#160;</td>
                                      <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                                    </tr>
                                    <tr>
                                      <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                                      </td>
                                      <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Jim C. Wright</td>
                                      <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                                    </tr>
                                    <tr>
                                      <td style="width: 3%; vertical-align: top;">&#160;</td>
                                      <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                                      </td>
                                      <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Jim C. Wright</td>
                                      <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                                    </tr>
                                    <tr>
                                      <td style="width: 3%; vertical-align: top;">&#160;</td>
                                      <td style="width: 4%; vertical-align: top;">
                                        <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                                      </td>
                                      <td style="width: 31%; vertical-align: top;">Director</td>
                                      <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                                    </tr>

                                </table>
                                <div style="clear: both;"><br>
                                </div>
                                <div><br>
                                </div>
                                <div><br>
                                </div>
                                <div><br>
                                </div>
                                <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
                              </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <br>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div>
      <div>
        <div>
          <div>
            <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">
              <div>
                <div>
                  <div>
                    <div>
                      <div>
                        <div>
                          <div>
                            <div>
                              <div><br>
                              </div>
                              <div>
                                <div>
                                  <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                                      <tr>
                                        <td style="vertical-align: top;" colspan="4" rowspan="1">
                                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name of Institution: U.S. BANK NATIONAL ASSOCIATION,<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
                                            </font></div>
                                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160;as a Lender</div>
                                          <div>&#160;</div>
                                        </td>
                                      </tr>
                                      <tr>
                                        <td style="vertical-align: top;" colspan="3">&#160;</td>
                                        <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                                      </tr>
                                      <tr>
                                        <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                                        </td>
                                        <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Matt S. Scullin</td>
                                        <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                                      </tr>
                                      <tr>
                                        <td style="width: 3%; vertical-align: top;">&#160;</td>
                                        <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                                          <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                                        </td>
                                        <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Matt S. Scullin</td>
                                        <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                                      </tr>
                                      <tr>
                                        <td style="width: 3%; vertical-align: top;">&#160;</td>
                                        <td style="width: 4%; vertical-align: top;">
                                          <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                                        </td>
                                        <td style="width: 31%; vertical-align: top;">Senior Vice President</td>
                                        <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                                      </tr>

                                  </table>
                                  <div style="clear: both;"><br>
                                  </div>
                                  <div><br>
                                  </div>
                                  <div><br>
                                  </div>
                                  <div><br>
                                  </div>
                                  <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
                                </div>
                              </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </div>
                  </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <br>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div>
      <div>
        <div>
          <div>
            <div>
              <div><br>
                <table align="right" cellspacing="0" cellpadding="0" border="0" style="border-collapse: collapse; width: 50%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;">

                    <tr>
                      <td style="vertical-align: top;" colspan="4" rowspan="1">
                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">ING Bank N.V., Dublin Branch<font style="font-size: 10pt; font-family: 'Times New Roman';"><br>
                          </font>&#160;&#160; as a Lender</div>
                        <div>&#160;</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="vertical-align: top;" colspan="3">&#160;</td>
                      <td style="vertical-align: top; width: 12%;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">By:</div>
                      </td>
                      <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;" colspan="2">/s/ Cormac Langford</td>
                      <td style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td style="width: 3%; vertical-align: top;">&#160;</td>
                      <td style="width: 4%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
                        <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Name:</div>
                      </td>
                      <td style="width: 31%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">Cormac Langford</td>
                      <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td style="width: 3%; vertical-align: top;">&#160;</td>
                      <td style="width: 4%; vertical-align: top;">
                        <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">Title:</div>
                      </td>
                      <td style="width: 31%; vertical-align: top;">Managing Director</td>
                      <td style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
                      <td rowspan="1" style="width: 4%; vertical-align: top;">&#160;</td>
                      <td rowspan="1" style="width: 31%; vertical-align: top;">&#160;</td>
                      <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td colspan="3" rowspan="1" style="width: 3%; vertical-align: top;">For any Lender requiring a second signature&#160;block:</td>
                      <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
                      <td colspan="2" rowspan="1" style="width: 4%; vertical-align: bottom; text-align: left;">&#160;</td>
                      <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td rowspan="1" style="width: 3%; vertical-align: top; padding-bottom: 2px;">By:<br>
                      </td>
                      <td colspan="2" rowspan="1" style="width: 4%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: left;">/s/ Robert O&#8217;Donoghue</td>
                      <td rowspan="1" style="width: 12%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
                      <td rowspan="1" style="width: 4%; vertical-align: top;">Name: <br>
                      </td>
                      <td rowspan="1" style="width: 31%; vertical-align: top;">Robert O&#8217;Donoghue</td>
                      <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                    </tr>
                    <tr>
                      <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
                      <td rowspan="1" style="width: 4%; vertical-align: top;">Title:</td>
                      <td rowspan="1" style="width: 31%; vertical-align: top;">Managing Director</td>
                      <td rowspan="1" style="width: 12%; vertical-align: top;" colspan="1">&#160;</td>
                    </tr>

                </table>
                <div style="clear: both;"><br>
                </div>
                <div><br>
                </div>
                <div><br>
                </div>
                <div>
                  <div><br>
                  </div>
                  <div><br>
                  </div>
                  <div style="text-align: center;">[Signature Page to Amendment No. 2 to Five-Year Credit Agreement] </div>
                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #BFBFBF; background-color: #BFBFBF; clear: both;"></div>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Schedule 1</u></div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;"><u>Schedule 1.1 to Five-Year Credit Agreement</u></div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zdc036dcc586f4f78a9d8e4da6154c47a">

          <tr>
            <td style="width: 67.92%; vertical-align: middle; background-color: #D9D9D9; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Lender</div>
            </td>
            <td style="width: 32.08%; vertical-align: middle; background-color: #D9D9D9; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Revolving Credit Commitment</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">JPMorgan Chase Bank, N.A.</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$525,000,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">BNP Paribas</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$525,000,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Citibank, N.A.</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$525,000,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Royal Bank of Canada</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$525,000,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Banco Santander, S.A., New York Branch</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$375,000,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Bank of America, N.A.</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$375,000,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Barclays Bank PLC</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$375,000,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Deutsche Bank AG New York Branch</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$375,000,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">HSBC Bank USA, N.A.</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$375,000,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Mizuho Bank, Ltd.</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$375,000,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">MUFG Bank, Ltd.</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$375,000,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Sumitomo Mitsui Banking Corporation</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$375,000,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Wells Fargo Bank, National Association</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$375,000,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Banco Bilbao Vizcaya Argentaria, S.A. New York Branch</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$253,125,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Canadian Imperial Bank of Commerce, New York Branch</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$253,125,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Goldman Sachs Bank USA</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$253,125,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Societe Generale</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$253,125,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">The Bank of Nova Scotia</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$253,125,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">The Toronto-Dominion Bank, New York Branch</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$253,125,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Truist Bank</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$253,125,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">U.S. Bank National Association</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt;">$253,125,000.00</div>
            </td>
          </tr>
          <tr>
            <td style="width: 67.92%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Total:</div>
            </td>
            <td nowrap="nowrap" style="width: 32.08%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">$7,500,000,000.00</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>4
<FILENAME>ibm-20250620.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>5
<FILENAME>ibm-20250620_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!--Generated by Broadridge PROfile 25.5.1.5318 Broadridge-->
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>6
<FILENAME>ibm-20250620_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressAddressLine1" xlink:label="EntityAddressAddressLine1" xlink:title="EntityAddressAddressLine1" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressAddressLine1" xml:lang="en-US" id="dei_EntityAddressAddressLine1">Entity Address, Address Line One</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1" xlink:title="label: EntityAddressAddressLine1 to dei_EntityAddressAddressLine1" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressAddressLine2" xlink:label="EntityAddressAddressLine2" xlink:title="EntityAddressAddressLine2" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressAddressLine2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressAddressLine2" xml:lang="en-US" id="dei_EntityAddressAddressLine2">Entity Address, Address Line Two</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2" xlink:title="label: EntityAddressAddressLine2 to dei_EntityAddressAddressLine2" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressAddressLine3" xlink:label="EntityAddressAddressLine3" xlink:title="EntityAddressAddressLine3" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressAddressLine3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressAddressLine3" xml:lang="en-US" id="dei_EntityAddressAddressLine3">Entity Address, Address Line Three</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressAddressLine3" xlink:to="dei_EntityAddressAddressLine3" xlink:title="label: EntityAddressAddressLine3 to dei_EntityAddressAddressLine3" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressCityOrTown" xlink:label="EntityAddressCityOrTown" xlink:title="EntityAddressCityOrTown" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressCityOrTown" xml:lang="en-US" id="dei_EntityAddressCityOrTown">Entity Address, City or Town</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown" xlink:title="label: EntityAddressCityOrTown to dei_EntityAddressCityOrTown" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressStateOrProvince" xlink:label="EntityAddressStateOrProvince" xlink:title="EntityAddressStateOrProvince" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressStateOrProvince" xml:lang="en-US" id="dei_EntityAddressStateOrProvince">Entity Address, State or Province</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince" xlink:title="label: EntityAddressStateOrProvince to dei_EntityAddressStateOrProvince" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressCountry" xlink:label="EntityAddressCountry" xlink:title="EntityAddressCountry" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressCountry" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressCountry" xml:lang="en-US" id="dei_EntityAddressCountry">Entity Address, Country</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressCountry" xlink:to="dei_EntityAddressCountry" xlink:title="label: EntityAddressCountry to dei_EntityAddressCountry" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressPostalZipCode" xlink:label="EntityAddressPostalZipCode" xlink:title="EntityAddressPostalZipCode" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressPostalZipCode" xml:lang="en-US" id="dei_EntityAddressPostalZipCode">Entity Address, Postal Zip Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode" xlink:title="label: EntityAddressPostalZipCode to dei_EntityAddressPostalZipCode" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_CityAreaCode" xlink:label="CityAreaCode" xlink:title="CityAreaCode" />
    <link:label xlink:type="resource" xlink:label="dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_CityAreaCode" xml:lang="en-US" id="dei_CityAreaCode">City Area Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CityAreaCode" xlink:to="dei_CityAreaCode" xlink:title="label: CityAreaCode to dei_CityAreaCode" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_LocalPhoneNumber" xlink:label="LocalPhoneNumber" xlink:title="LocalPhoneNumber" />
    <link:label xlink:type="resource" xlink:label="dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_LocalPhoneNumber" xml:lang="en-US" id="dei_LocalPhoneNumber">Local Phone Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber" xlink:title="label: LocalPhoneNumber to dei_LocalPhoneNumber" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityListingsTable" xlink:label="EntityListingsTable" xlink:title="EntityListingsTable" />
    <link:label xlink:type="resource" xlink:label="dei_EntityListingsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityListingsTable" xml:lang="en-US" id="dei_EntityListingsTable">Entity Listings [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityListingsTable" xlink:to="dei_EntityListingsTable" xlink:title="label: EntityListingsTable to dei_EntityListingsTable" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityListingsExchangeAxis" xlink:label="EntityListingsExchangeAxis" xlink:title="EntityListingsExchangeAxis" />
    <link:label xlink:type="resource" xlink:label="dei_EntityListingsExchangeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityListingsExchangeAxis" xml:lang="en-US" id="dei_EntityListingsExchangeAxis">Entity Listings, Exchange [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityListingsExchangeAxis" xlink:to="dei_EntityListingsExchangeAxis" xlink:title="label: EntityListingsExchangeAxis to dei_EntityListingsExchangeAxis" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_ExchangeDomain" xlink:label="ExchangeDomain" xlink:title="ExchangeDomain" />
    <link:label xlink:type="resource" xlink:label="dei_ExchangeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_ExchangeDomain" xml:lang="en-US" id="dei_ExchangeDomain">Exchange [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ExchangeDomain" xlink:to="dei_ExchangeDomain" xlink:title="label: ExchangeDomain to dei_ExchangeDomain" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityListingsLineItems" xlink:label="EntityListingsLineItems" xlink:title="EntityListingsLineItems" />
    <link:label xlink:type="resource" xlink:label="dei_EntityListingsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityListingsLineItems" xml:lang="en-US" id="dei_EntityListingsLineItems">Entity Listings [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityListingsLineItems" xlink:to="dei_EntityListingsLineItems" xlink:title="label: EntityListingsLineItems to dei_EntityListingsLineItems" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_Security12bTitle" xlink:label="Security12bTitle" xlink:title="Security12bTitle" />
    <link:label xlink:type="resource" xlink:label="dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_Security12bTitle" xml:lang="en-US" id="dei_Security12bTitle">Title of 12(b) Security</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Security12bTitle" xlink:to="dei_Security12bTitle" xlink:title="label: Security12bTitle to dei_Security12bTitle" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_NoTradingSymbolFlag" xlink:label="NoTradingSymbolFlag" xlink:title="NoTradingSymbolFlag" />
    <link:label xlink:type="resource" xlink:label="dei_NoTradingSymbolFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_NoTradingSymbolFlag" xml:lang="en-US" id="dei_NoTradingSymbolFlag">No Trading Symbol Flag</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoTradingSymbolFlag" xlink:to="dei_NoTradingSymbolFlag" xlink:title="label: NoTradingSymbolFlag to dei_NoTradingSymbolFlag" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_TradingSymbol" xlink:label="TradingSymbol" xlink:title="TradingSymbol" />
    <link:label xlink:type="resource" xlink:label="dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_TradingSymbol" xml:lang="en-US" id="dei_TradingSymbol">Trading Symbol</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradingSymbol" xlink:to="dei_TradingSymbol" xlink:title="label: TradingSymbol to dei_TradingSymbol" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_SecurityExchangeName" xlink:label="SecurityExchangeName" xlink:title="SecurityExchangeName" />
    <link:label xlink:type="resource" xlink:label="dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_SecurityExchangeName" xml:lang="en-US" id="dei_SecurityExchangeName">Security Exchange Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecurityExchangeName" xlink:to="dei_SecurityExchangeName" xlink:title="label: SecurityExchangeName to dei_SecurityExchangeName" />
    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_One250NotesDue2034Member" xlink:label="One250NotesDue2034Member" xlink:title="One250NotesDue2034Member" />
    <link:label xlink:type="resource" xlink:label="ibm_One250NotesDue2034Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_One250NotesDue2034Member_lbl1" xml:lang="en-US" id="ibm_One250NotesDue2034Member_lbl1">1.250% Notes due 2034 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="One250NotesDue2034Member" xlink:to="ibm_One250NotesDue2034Member_lbl1" xlink:title="label: One250NotesDue2034Member to ibm_One250NotesDue2034Member_lbl1" />
    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_Three150NotesDue2033Member" xlink:label="Three150NotesDue2033Member" xlink:title="Three150NotesDue2033Member" />
    <link:label xlink:type="resource" xlink:label="ibm_Three150NotesDue2033Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_Three150NotesDue2033Member_lbl1" xml:lang="en-US" id="ibm_Three150NotesDue2033Member_lbl1">3.150% Notes due 2033 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Three150NotesDue2033Member" xlink:to="ibm_Three150NotesDue2033Member_lbl1" xlink:title="label: Three150NotesDue2033Member to ibm_Three150NotesDue2033Member_lbl1" />
    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_Three625NotesDue2031Member" xlink:label="Three625NotesDue2031Member" xlink:title="Three625NotesDue2031Member" />
    <link:label xlink:type="resource" xlink:label="ibm_Three625NotesDue2031Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_Three625NotesDue2031Member_lbl1" xml:lang="en-US" id="ibm_Three625NotesDue2031Member_lbl1">3.625% Notes due 2031 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Three625NotesDue2031Member" xlink:to="ibm_Three625NotesDue2031Member_lbl1" xlink:title="label: Three625NotesDue2031Member to ibm_Three625NotesDue2031Member_lbl1" />
    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_Zero300NotesDue2028Member" xlink:label="Zero300NotesDue2028Member" xlink:title="Zero300NotesDue2028Member" />
    <link:label xlink:type="resource" xlink:label="ibm_Zero300NotesDue2028Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_Zero300NotesDue2028Member_lbl1" xml:lang="en-US" id="ibm_Zero300NotesDue2028Member_lbl1">0.300% Notes due 2028 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Zero300NotesDue2028Member" xlink:to="ibm_Zero300NotesDue2028Member_lbl1" xlink:title="label: Zero300NotesDue2028Member to ibm_Zero300NotesDue2028Member_lbl1" />
    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_Four000NotesDue2043Member" xlink:label="Four000NotesDue2043Member" xlink:title="Four000NotesDue2043Member" />
    <link:label xlink:type="resource" xlink:label="ibm_Four000NotesDue2043Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_Four000NotesDue2043Member_lbl1" xml:lang="en-US" id="ibm_Four000NotesDue2043Member_lbl1">4.000% Notes due 2043 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Four000NotesDue2043Member" xlink:to="ibm_Four000NotesDue2043Member_lbl1" xlink:title="label: Four000NotesDue2043Member to ibm_Four000NotesDue2043Member_lbl1" />
    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_Seven00DebenturesDue2025Member" xlink:label="Seven00DebenturesDue2025Member" xlink:title="Seven00DebenturesDue2025Member" />
    <link:label xlink:type="resource" xlink:label="ibm_Seven00DebenturesDue2025Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_Seven00DebenturesDue2025Member_lbl1" xml:lang="en-US" id="ibm_Seven00DebenturesDue2025Member_lbl1">7.00% Debentures due 2025 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Seven00DebenturesDue2025Member" xlink:to="ibm_Seven00DebenturesDue2025Member_lbl1" xlink:title="label: Seven00DebenturesDue2025Member to ibm_Seven00DebenturesDue2025Member_lbl1" />
    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_Three800NotesDue2045Member" xlink:label="Three800NotesDue2045Member" xlink:title="Three800NotesDue2045Member" />
    <link:label xlink:type="resource" xlink:label="ibm_Three800NotesDue2045Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_Three800NotesDue2045Member_lbl1" xml:lang="en-US" id="ibm_Three800NotesDue2045Member_lbl1">3.800% Notes due 2045 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Three800NotesDue2045Member" xlink:to="ibm_Three800NotesDue2045Member_lbl1" xlink:title="label: Three800NotesDue2045Member to ibm_Three800NotesDue2045Member_lbl1" />
    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_Six50DebenturesDue2028Member" xlink:label="Six50DebenturesDue2028Member" xlink:title="Six50DebenturesDue2028Member" />
    <link:label xlink:type="resource" xlink:label="ibm_Six50DebenturesDue2028Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_Six50DebenturesDue2028Member_lbl1" xml:lang="en-US" id="ibm_Six50DebenturesDue2028Member_lbl1">6.50% Debentures due 2028 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Six50DebenturesDue2028Member" xlink:to="ibm_Six50DebenturesDue2028Member_lbl1" xlink:title="label: Six50DebenturesDue2028Member to ibm_Six50DebenturesDue2028Member_lbl1" />
    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_One500NotesDue2029Member" xlink:label="One500NotesDue2029Member" xlink:title="One500NotesDue2029Member" />
    <link:label xlink:type="resource" xlink:label="ibm_One500NotesDue2029Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_One500NotesDue2029Member_lbl1" xml:lang="en-US" id="ibm_One500NotesDue2029Member_lbl1">1.500% Notes due 2029 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="One500NotesDue2029Member" xlink:to="ibm_One500NotesDue2029Member_lbl1" xlink:title="label: One500NotesDue2029Member to ibm_One500NotesDue2029Member_lbl1" />
    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_Five875DebenturesDue2032Member" xlink:label="Five875DebenturesDue2032Member" xlink:title="Five875DebenturesDue2032Member" />
    <link:label xlink:type="resource" xlink:label="ibm_Five875DebenturesDue2032Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_Five875DebenturesDue2032Member_lbl1" xml:lang="en-US" id="ibm_Five875DebenturesDue2032Member_lbl1">5.875% Debentures due 2032 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Five875DebenturesDue2032Member" xlink:to="ibm_Five875DebenturesDue2032Member_lbl1" xlink:title="label: Five875DebenturesDue2032Member to ibm_Five875DebenturesDue2032Member_lbl1" />
    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_One250NotesDue2027Member" xlink:label="One250NotesDue2027Member" xlink:title="One250NotesDue2027Member" />
    <link:label xlink:type="resource" xlink:label="ibm_One250NotesDue2027Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_One250NotesDue2027Member_lbl1" xml:lang="en-US" id="ibm_One250NotesDue2027Member_lbl1">1.250% Notes due 2027 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="One250NotesDue2027Member" xlink:to="ibm_One250NotesDue2027Member_lbl1" xlink:title="label: One250NotesDue2027Member to ibm_One250NotesDue2027Member_lbl1" />
    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_One750NotesDue2028Member" xlink:label="One750NotesDue2028Member" xlink:title="One750NotesDue2028Member" />
    <link:label xlink:type="resource" xlink:label="ibm_One750NotesDue2028Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_One750NotesDue2028Member_lbl1" xml:lang="en-US" id="ibm_One750NotesDue2028Member_lbl1">1.750% Notes due 2028 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="One750NotesDue2028Member" xlink:to="ibm_One750NotesDue2028Member_lbl1" xlink:title="label: One750NotesDue2028Member to ibm_One750NotesDue2028Member_lbl1" />
    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_Two875NotesDue2025Member" xlink:label="Two875NotesDue2025Member" xlink:title="Two875NotesDue2025Member" />
    <link:label xlink:type="resource" xlink:label="ibm_Two875NotesDue2025Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_Two875NotesDue2025Member_lbl1" xml:lang="en-US" id="ibm_Two875NotesDue2025Member_lbl1">2.875% Notes due 2025 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Two875NotesDue2025Member" xlink:to="ibm_Two875NotesDue2025Member_lbl1" xlink:title="label: Two875NotesDue2025Member to ibm_Two875NotesDue2025Member_lbl1" />
    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_Three750NotesDue2035Member" xlink:label="Three750NotesDue2035Member" xlink:title="Three750NotesDue2035Member" />
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    <link:label xlink:type="resource" xlink:label="ibm_Three375NotesDue2027Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_Three375NotesDue2027Member_lbl1" xml:lang="en-US" id="ibm_Three375NotesDue2027Member_lbl1">3.375% Notes due 2027 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Three375NotesDue2027Member" xlink:to="ibm_Three375NotesDue2027Member_lbl1" xlink:title="label: Three375NotesDue2027Member to ibm_Three375NotesDue2027Member_lbl1" />
    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_Zero300NotesDue2026Member" xlink:label="Zero300NotesDue2026Member" xlink:title="Zero300NotesDue2026Member" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CHXMember" xlink:to="ibm_CHXMember_lbl1" xlink:title="label: CHXMember to ibm_CHXMember_lbl1" />
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    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_Six22DebenturesDue2027Member" xlink:label="Six22DebenturesDue2027Member" xlink:title="Six22DebenturesDue2027Member" />
    <link:label xlink:type="resource" xlink:label="ibm_Six22DebenturesDue2027Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_Six22DebenturesDue2027Member_lbl1" xml:lang="en-US" id="ibm_Six22DebenturesDue2027Member_lbl1">6.22% Debentures due 2027 [Member]</link:label>
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    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_Seven125DebenturesDue2096Member" xlink:label="Seven125DebenturesDue2096Member" xlink:title="Seven125DebenturesDue2096Member" />
    <link:label xlink:type="resource" xlink:label="ibm_Seven125DebenturesDue2096Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_Seven125DebenturesDue2096Member_lbl1" xml:lang="en-US" id="ibm_Seven125DebenturesDue2096Member_lbl1">7.125% Debentures due 2096 [Member]</link:label>
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    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_One200NotesDue2040Member" xlink:label="One200NotesDue2040Member" xlink:title="One200NotesDue2040Member" />
    <link:label xlink:type="resource" xlink:label="ibm_One200NotesDue2040Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_One200NotesDue2040Member_lbl1" xml:lang="en-US" id="ibm_One200NotesDue2040Member_lbl1">1.200% Notes due 2040 [Member]</link:label>
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    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_Four875NotesDue2038Member" xlink:label="Four875NotesDue2038Member" xlink:title="Four875NotesDue2038Member" />
    <link:label xlink:type="resource" xlink:label="ibm_Four875NotesDue2038Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_Four875NotesDue2038Member_lbl1" xml:lang="en-US" id="ibm_Four875NotesDue2038Member_lbl1">4.875% Notes due 2038 [Member]</link:label>
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    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_One750NotesDue2031Member" xlink:label="One750NotesDue2031Member" xlink:title="One750NotesDue2031Member" />
    <link:label xlink:type="resource" xlink:label="ibm_One750NotesDue2031Member_lbl1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="ibm_One750NotesDue2031Member_lbl1" xml:lang="en-US" id="ibm_One750NotesDue2031Member_lbl1">1.750% Notes due 2031 [Member]</link:label>
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    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_Zero650NotesDue2032Member" xlink:label="Zero650NotesDue2032Member" xlink:title="Zero650NotesDue2032Member" />
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    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_Two900NotesDue2030Member" xlink:label="Two900NotesDue2030Member" xlink:title="Two900NotesDue2030Member" />
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    <link:loc xlink:type="locator" xlink:href="ibm-20250620.xsd#ibm_Seven00DebenturesDue2045Member" xlink:label="Seven00DebenturesDue2045Member" xlink:title="Seven00DebenturesDue2045Member" />
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>7
<FILENAME>ibm-20250620_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
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<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<title></title>
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<span style="display: none;">v3.25.2</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document and Entity Information<br></strong></div></th>
<th class="th"><div>Jun. 20, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Jun. 20,  2025<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-02360<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">INTERNATIONAL BUSINESS MACHINES CORPORATION<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000051143<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">NY<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">13-0871985<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">One New Orchard Road<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Armonk<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">NY<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">10504<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">914<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">499-1900<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | Common Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Capital stock, par value $.20 per share<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 2.875% Notes due 2025 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">2.875% Notes due 2025<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM25A<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 0.300% Notes due 2026 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">0.300% Notes due 2026<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM26B<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 1.250% Notes due 2027 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">1.250% Notes due 2027<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM27B<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 3.375% Notes due 2027 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">3.375% Notes due 2027<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM27F<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 0.300% Notes due 2028 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">0.300% Notes due 2028<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM28B<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 1.750% Notes due 2028 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">1.750% Notes due 2028<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM28A<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 1.500% Notes due 2029 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">1.500% Notes due 2029<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM29<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 0.875% Notes due 2030 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">0.875% Notes due 2030<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM30A<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 2.900% Notes due 2030 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">2.900% Notes due 2030<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM30C<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 1.750% Notes due 2031 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">1.750% Notes due 2031<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM31<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 3.625% Notes due 2031 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">3.625% Notes due 2031<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM31B<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 0.650% Notes due 2032 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">0.650% Notes due 2032<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM32A<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 3.150% Notes due 2033 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">3.150% Notes due 2033<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM33A<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 1.250% Notes due 2034 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">1.250% Notes due 2034<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM34<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 3.750% Notes due 2035 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">3.750% Notes due 2035<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM35<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 3.450% Notes due 2037 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">3.450% Notes due 2037<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM37<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 4.875% Notes due 2038 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">4.875% Notes due 2038<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM38<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 1.200% Notes due 2040 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">1.200% Notes due 2040<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM40<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 4.000% Notes due 2043 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">4.000% Notes due 2043<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM43<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 3.800% Notes due 2045 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">3.800% Notes due 2045<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM45A<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 7.00% Debentures due 2025 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">7.00% Debentures due 2025<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM25<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 6.22% Debentures due 2027 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">6.22% Debentures due 2027<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM27<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 6.50% Debentures due 2028 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">6.50% Debentures due 2028<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM28<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 5.875% Debentures due 2032 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">5.875% Debentures due 2032<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM32D<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 7.00% Debentures due 2045 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">7.00% Debentures due 2045<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM45<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember', window );">NYSE [Member] | 7.125% Debentures due 2096 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityListingsLineItems', window );"><strong>Entity Listings [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">7.125% Debentures due 2096<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">IBM96<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityListingsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityListingsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14a<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityListingsExchangeAxis=ibm_NYSEMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityListingsExchangeAxis=ibm_NYSEMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=ibm_Two875NotesDue2025Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=ibm_Two875NotesDue2025Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=ibm_Zero300NotesDue2026Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=ibm_Zero300NotesDue2026Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=ibm_One250NotesDue2027Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=ibm_One250NotesDue2027Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=ibm_Three375NotesDue2027Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=ibm_Three375NotesDue2027Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=ibm_Zero300NotesDue2028Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=ibm_Zero300NotesDue2028Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=ibm_One750NotesDue2028Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=ibm_One750NotesDue2028Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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      contextRef="c20250620to20250620"
      id="Fact_68380dd147c2490d80e913d80f4dcfe2">2025-06-20</dei:DocumentPeriodEndDate>
    <dei:EntityRegistrantName
      contextRef="c20250620to20250620"
      id="Fact_359aa87634204aa692f1668b491576a9">INTERNATIONAL BUSINESS MACHINES CORPORATION</dei:EntityRegistrantName>
    <dei:EntityIncorporationStateCountryCode
      contextRef="c20250620to20250620"
      id="Fact_aafb4ca0bd56429684615cf24b09f8a7">NY</dei:EntityIncorporationStateCountryCode>
    <dei:EntityTaxIdentificationNumber
      contextRef="c20250620to20250620"
      id="Fact_e1bb0891c129434d99855a3409c93252">13-0871985</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1
      contextRef="c20250620to20250620"
      id="Fact_249e6c53c85d438b814f7db0df5d937c">One New Orchard Road</dei:EntityAddressAddressLine1>
    <dei:EntityAddressCityOrTown
      contextRef="c20250620to20250620"
      id="Fact_5677fce6a5bf4a06aa31c5e96d136d25">Armonk</dei:EntityAddressCityOrTown>
    <dei:EntityAddressStateOrProvince
      contextRef="c20250620to20250620"
      id="Fact_bf912bd6e3174a1db8e0a6efb4f80630">NY</dei:EntityAddressStateOrProvince>
    <dei:EntityAddressPostalZipCode
      contextRef="c20250620to20250620"
      id="Fact_f7c584973e674d1f9e16770a88618cd5">10504</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode
      contextRef="c20250620to20250620"
      id="Fact_ec8e6e49088a47fdb3f53f0541f6bc1e">914</dei:CityAreaCode>
    <dei:LocalPhoneNumber
      contextRef="c20250620to20250620"
      id="Fact_b92db0e39ee0453593211228dfae65d8">499-1900</dei:LocalPhoneNumber>
    <dei:WrittenCommunications
      contextRef="c20250620to20250620"
      id="Fact_146eb037893540c591d38f2c99037a17">false</dei:WrittenCommunications>
    <dei:SolicitingMaterial
      contextRef="c20250620to20250620"
      id="Fact_5199a577f1c2438b8252588ba31fd83d">false</dei:SolicitingMaterial>
    <dei:PreCommencementTenderOffer
      contextRef="c20250620to20250620"
      id="Fact_47a8ee8f5e3143189367d6bdd8817528">false</dei:PreCommencementTenderOffer>
    <dei:PreCommencementIssuerTenderOffer
      contextRef="c20250620to20250620"
      id="Fact_d1f67bb7d4134860a6d9773548566dc3">false</dei:PreCommencementIssuerTenderOffer>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_CommonStockMember"
      id="Fact_eed71628098d454c9049abf9e6fb4b87">Capital stock, par value $.20 per share</dei:Security12bTitle>
    <dei:TradingSymbol
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_CommonStockMember"
      id="Fact_e8c48b3e7b3047759b30bdb3bae7e82b">IBM</dei:TradingSymbol>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_CommonStockMember"
      id="Fact_94990810c6a1405dac572cad0e48feaf">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Two875NotesDue2025Member"
      id="Fact_00e6bd76c81c4eeeab6316994ebf9aa9">2.875% Notes due 2025</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Two875NotesDue2025Member"
      id="Fact_e5564ee676544460b939187c616510ad">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Zero300NotesDue2026Member"
      id="Fact_15a4c05bdd2042aa8f5a3a9793fcaceb">0.300% Notes due 2026</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Zero300NotesDue2026Member"
      id="Fact_6b3f7abe155844e39cb3c2eba0b47f62">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One250NotesDue2027Member"
      id="Fact_c6049dbc2ad44e71900045e9852f68dd">1.250% Notes due 2027</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One250NotesDue2027Member"
      id="Fact_bb6ee5b8c80e421aabfcdc08348f90a7">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three375NotesDue2027Member"
      id="Fact_72467646151a49f8b29469cd8ddf9b51">3.375% Notes due 2027</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three375NotesDue2027Member"
      id="Fact_e3499ec10def4e5085d4de716c230545">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Zero300NotesDue2028Member"
      id="Fact_5d97b20bbdb74198909c0fa7fc4f933d">0.300% Notes due 2028</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Zero300NotesDue2028Member"
      id="Fact_48f26608c1a442f79648d37095598173">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One750NotesDue2028Member"
      id="Fact_9d5e24fe92734593bb8cc329de162148">1.750% Notes due 2028</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One750NotesDue2028Member"
      id="Fact_ff6a703857894dd594934de2ba94088d">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One500NotesDue2029Member"
      id="Fact_7b62fccfc533469da1b6bbc5d7926e13">1.500% Notes due 2029</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One500NotesDue2029Member"
      id="Fact_a8e72a519c7642e48cbf632f686fcae5">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Zero875NotesDue2030Member"
      id="Fact_01fdbdf31cd4421d85bd11fb7fcff307">0.875% Notes due 2030</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Zero875NotesDue2030Member"
      id="Fact_34f94ca471fa4d55b6252bf011d240e5">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Two900NotesDue2030Member"
      id="Fact_f9680352538d4904ac9e5727f925efb2">2.900% Notes due 2030</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Two900NotesDue2030Member"
      id="Fact_05bb93f6637941a1969fcc3b65e8430e">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One750NotesDue2031Member"
      id="Fact_4a84b07607af4607b650cbf210dc03f6">1.750% Notes due 2031</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One750NotesDue2031Member"
      id="Fact_c61b8ecacf0f411e9cabd6db1d40891c">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three625NotesDue2031Member"
      id="Fact_f26791e5e49a46bc8c614bbf36cccb28">3.625% Notes due 2031</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three625NotesDue2031Member"
      id="Fact_6badc46cb7a94c24b9fa362b40d5f9e3">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Zero650NotesDue2032Member"
      id="Fact_963673c887a44de4a6a1073aba6d3f24">0.650% Notes due 2032</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Zero650NotesDue2032Member"
      id="Fact_f17fc0b9c434431799629c39a0cbabb0">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three150NotesDue2033Member"
      id="Fact_7737872fd6684b9baf5bde5a0974e294">3.150% Notes due 2033</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three150NotesDue2033Member"
      id="Fact_8d48bde7bac0414b8e1516779e763485">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One250NotesDue2034Member"
      id="Fact_51c670d726ce445c91266f3645e2314a">1.250% Notes due 2034</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One250NotesDue2034Member"
      id="Fact_41c65d73cb8c4e0fb0569668abc11b12">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three750NotesDue2035Member"
      id="Fact_ef3a1b0725364b608e6c26ba050941c9">3.750% Notes due 2035</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three750NotesDue2035Member"
      id="Fact_7116b24d8af44215b3caa7a62c2573e2">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three450NotesDue2037Member"
      id="Fact_bf38da02d48143d88814a8a6a91bec03">3.450% Notes due 2037</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three450NotesDue2037Member"
      id="Fact_9f92698f3b314e2e98fdb44d4ff664fe">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Four875NotesDue2038Member"
      id="Fact_7283ec9e851c4a4ba8519b887d444cde">4.875% Notes due 2038</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Four875NotesDue2038Member"
      id="Fact_c2a40bc5481e4deebf9b8d004d00c396">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One200NotesDue2040Member"
      id="Fact_a7410a68dd05420e8d42ce715fe0f1e9">1.200% Notes due 2040</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_One200NotesDue2040Member"
      id="Fact_47a974dabc3047b995704f0f67dc414d">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Four000NotesDue2043Member"
      id="Fact_a1bef64ff7a64474aca56d91b2e66d27">4.000% Notes due 2043</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Four000NotesDue2043Member"
      id="Fact_3bc9b4345fb24f6bb2422c592cc46398">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three800NotesDue2045Member"
      id="Fact_977e3c2167754704ba04d17639892bf3">3.800% Notes due 2045</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Three800NotesDue2045Member"
      id="Fact_51396dd37f3648b4b2965fbba58abb3c">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Seven00DebenturesDue2025Member"
      id="Fact_882c7a447cb748dfb3a3128ba034425b">7.00% Debentures due 2025</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Seven00DebenturesDue2025Member"
      id="Fact_953588effb814611be888c48fc8c452b">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Six22DebenturesDue2027Member"
      id="Fact_6d77405627fd4e55a56b3b380c522b24">6.22% Debentures due 2027</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Six22DebenturesDue2027Member"
      id="Fact_209a4a42a7124dcba591b55e29255abc">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Six50DebenturesDue2028Member"
      id="Fact_cad25563126446e3a65599d285e6729d">6.50% Debentures due 2028</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Six50DebenturesDue2028Member"
      id="Fact_e834f055b81f4adcb4f3cd3e85b68a88">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Five875DebenturesDue2032Member"
      id="Fact_0b7d9e185b7e4923a2d8b63fc7b078ce">5.875% Debentures due 2032</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Five875DebenturesDue2032Member"
      id="Fact_2ab1089ae5dd4cebb78f6e4b01494258">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Seven00DebenturesDue2045Member"
      id="Fact_19455f72719a49ac9cade631643e255b">7.00% Debentures due 2045</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Seven00DebenturesDue2045Member"
      id="Fact_23a1fe921e1f4943a6f5a85b7a509348">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Seven125DebenturesDue2096Member"
      id="Fact_ceef6702adfb468594d2950196962215">7.125% Debentures due 2096</dei:Security12bTitle>
    <dei:SecurityExchangeName
      contextRef="c20250620to20250620_EntityListingsExchangeAxis_NYSEMember_StatementClassOfStockAxis_Seven125DebenturesDue2096Member"
      id="Fact_2c29cc602cf64289997a3b22fdeacddc">NYSE</dei:SecurityExchangeName>
    <dei:EntityEmergingGrowthCompany
      contextRef="c20250620to20250620"
      id="Fact_e930d486e6fc42f9a8bcad36b9dfabee">false</dei:EntityEmergingGrowthCompany>
</xbrl>
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</TEXT>
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</SEC-DOCUMENT>
