I spent hours on this but couldn't get anything useful from IBMpass. I later found a much simpler process described in a YouTube video: How to unlock BIOS Supervisor Password from Lenovo Thinkpad Laptop (no damage to laptop) - YouTube
Basically the steps are.
- Power on the laptop and short SDA and SCL as soon as you see the logo. Keep them shorted.
- The BIOS will think the EEPROM is corrupt and allow you supervisor acces to the BIOS settings.
- From here the video recommends to change the password. Enter the new password then confirm but before pressing enter release the shorted pins.
- Next I dissabled the password, saved changes and restarted to check.
Hope this helps someone.