BRISTOL MYERS SQUIBB CO
EX-10.W: SUMMARY OF 2005 BOD COMPENSATION PROGRAM
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<TYPE>EX-10.W
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<FILENAME>y04786k8exv10ww.htm
<DESCRIPTION>EX-10.W: SUMMARY OF 2005 BOD COMPENSATION PROGRAM
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<TITLE>EXHIBIT 10.W</TITLE>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="right">
<B><FONT size="2">Exhibit&nbsp;10w.</FONT></B>

<P align="center">
<B><FONT size="2">BRISTOL-MYERS SQUIBB</FONT></B>

<DIV align="center">
<B><FONT size="2">SUMMARY OF 2005 BOARD OF DIRECTORS&#146;
COMPENSATION PROGRAM</FONT></B>
</DIV>

<P align="left">
<B><U><FONT size="2">CASH COMPENSATION PROGRAM</FONT></U></B>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="30%"></TD>
    <TD width="1%"></TD>
    <TD width="69%"></TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Annual Retainer
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">$45,000
    </FONT></TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Board Meeting Fee
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">$2,000
    </FONT></TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Committee Meeting Fee
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">$2,000
    </FONT></TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">Committee Chairman Annual Retainer
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">$10,000
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<B><U><FONT size="2">STOCK-BASED PROGRAM</FONT></U></B>

<P align="left">
<FONT size="2">As of the date of the Annual Meeting of
Shareholders, each Director receives a 2,500 share option grant.
The grant vests 25% per year. On February&nbsp;1, each Director
also receives an annual grant of 2,000 share units that are
credited to a deferred compensation account until the Director
ceases to serve as a Director. The value of the grant is
determined by the value of Bristol-Myers Squibb Company Stock.
</FONT>

<P align="left">
<B><U><FONT size="2">DEFERRED COMPENSATION PROGRAM</FONT></U></B>

<P align="left">
<FONT size="2">Twenty-five percent of the annual retainer will
be deferred into a deferred share unit account until the
director has met the ownership guidelines of 5,000 shares or
deferred units. Additionally, all or a portion of compensation
may be deferred until retirement or a date specified by the
Director. The election to defer is made in the preceding
calendar year in which the compensation is earned. A Director
may elect for deferred funds to be paid in a lump sum or in a
number of installments.
</FONT>

<P align="left">
<FONT size="2">The investment options are:
</FONT>

<DIV align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">-a 3-month U.S. Treasury bill equivalent fund
</FONT>
</DIV>

<DIV align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">-a fund based on the return of the Company&#146;s
invested cash
</FONT>
</DIV>

<DIV align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">-deferred share units which are based on the
return of Bristol-Myers Squibb common stock
</FONT>
</DIV>

<P align="left">
<B><U><FONT size="2">CHARITABLE CONTRIBUTION
PROGRAM</FONT></U></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">This program provides for a $1&nbsp;million death
benefit for each active or retired Director covered. Upon the
death of a Director, the Company donates half of the benefit to
one or more charitable organizations designated by the Director.
The remaining half is contributed to the Bristol-Myers Squibb
Foundation.
</FONT>

<P align="left">
<B><U><FONT size="2">RETIREMENT PROGRAM</FONT></U></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">As of March&nbsp;5, 1996, the Board ended future
accruals under the Retirement Plan for Non-Employee Directors
and vested eligible directors regardless of their years of
service in retirement benefits accrued to date.
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