Company: ACCO
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046374
Chunk: 41

Company: ACCO BRANDS Corp
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 41
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 the year of separation for Ms. Schneider and all other executive officers.

Change-in-Control Termination: 2.99 times base salary plus 2.99 times target bonus for the year of separation for Mr. Tedford; 2.25 times base salary plus 2.25 times target bonus for the year of separation for Messrs. Monko and Buchenroth and Ms. O'Connor; 2 times base salary plus 2 times target bonus for the year of separation for Ms. Schneider and all other executive officers. The executive would also receive a pro-rata annual bonus for the year of the executive’s termination up through and including the termination effective date calculated based upon actual performance as approved by the Compensation and Human Capital Committee.

Outplacement services in a value commensurate with the level of the position.

Any amounts payable under the ESP are reduced by amounts payable to a named executive officer under any other severance plan applicable to the named executive officer or any other agreement that has been entered into between the Company and the named executive officer.

In accordance with Section 4999 of the Internal Revenue Code of 1986, as amended (the "Code"), if the severance calculation is subject to an excise tax, the Company will calculate two severance payment alternatives and determine which alternative results in the highest net amount of severance payment for each executive officer, commonly referred to as the best-net approach. Either the aggregate of all severance payments for an executive officer will be paid as calculated and subject to regular payroll income tax and excise tax, or the aggregate of all severance payments for an executive officer shall be reduced prior to payment to a gross amount that results in the largest net amount for that executive officer so as to remain subject to regular payroll income tax but not subject to excise tax. Mr. Monko is not subject to Section 4999 of the Code.

Medical and other welfare benefits continue for the named executive officer’s severance period on the same cost-sharing basis as if employment had not terminated. No severance or change-in-control payments would be made until the named executive officer executes a release waiving any and all claims the executive may have against the Company. No benefits would be provided to a named executive officer if a termination was for “cause” or voluntary (other than in the case of a retirement) except where required by law or at the discretion of the Board of Directors. In addition, certain equity grants awarded to the named executive officers may accelerate upon death, disability, retirement, termination without