What will happen if the exercise price of my Cognos stock options is denominated in Canadian dollars?
If the exercise price per share of your Cognos stock options is denominated in Canadian dollars, the Canadian dollar exercise price per share will be converted to a U.S. dollar equivalent of such exercise price per share (using the noon buying rate on the business day prior to the closing date of the transaction that the Federal Reserve Bank of New York has certified for customs purposes in New York City for cable transfers payable in Canadian dollars) prior to such options either being cancelled for a cash payment or substituted for options to acquire IBM common stock (as set out above). Example: Cognos option to purchase 1,000 Cognos shares with an exercise price of CDN$40.00 per share. You hold an option award to purchase 1,000 Cognos shares with an exercise price of CDN$40.00 per share. Assume the noon buying rate for Canadian dollars on the business day prior to the closing date of the transaction is CDN$0.9907/US$1.00. The U.S. dollar equivalent of exercise price per share is CDN
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