An executive who worked at IBM Corp. for nearly a decade pleaded guilty Friday to stealing trade secrets about the company’s pricing and trying to pass them off to his superiors at rival Hewlett-Packard Co. when he took a job there.

Atul Malhotra, 42, faces up to 10 years in prison and a $250,000 fine on the single count of theft of trade secrets, prosecutors said Friday. Malhotra entered his plea to the charge in U.S. District Court in San Jose, Calif., where sentencing is scheduled for Oct. 29.