The Wall Street Journal reported Saturday the company's compensation committee approved the proposal Friday to have the senior management skip bonuses for the year.
IBM reported a revenue drop of 4.6 percent in 2013.
The bonus package that had been set up for Chairwoman and Chief Executive Officer Ginni Rometty was $4 million and that figure will roll over to 2014, the Journal said.
The incentive package for Chief Financial Officer Mark Loughridge, who retired Dec. 31, was more than $1 million. Senior Vice President and Group Executive of software and systems Steven Mills had an incentive target set at $968,000, the Journal said.