ex10-1.htm


    EXHIBIT
10.1

     

     

    
      October
11, 2007

      


      Mr. David
Kaput

      20
Carrigan Avenue

      White
Plains, NY 10615-4645

      


      Dear
David:

       

      On behalf
of ACCO Brands Corporation, I am very pleased to confirm our offer to you for
the position of Senior Vice President, Chief Human Resources Officer reporting
directly to David Campbell, our Chief Executive Officer. Your start date will be
Monday, October 15th, 2007.

      


      Your
bi-weekly base salary will be $11,538.46, which is $300,000 annualized. You will
participate in our annual Management Incentive Plan (MIP) with a target award of
50% of your base salary. Actual awards will range from 0% to 200% of target
depending upon company performance standards established by our Board's
Compensation Committee. For 2007, your participation in the MIP will be
pro-rated to your start date and will be guaranteed to pay out at target. For
2008, your participation will be guaranteed to pay out minimally at target
performance.

      


      You will
also be enrolled in the Executive Auto Allowance Program. Your benefit under
this plan will be $538.15, which is currently $13,992 annualized.

      


      You will
also be eligible to participate in ACCO Brands Long Term Incentive Plan (LTIP)
beginning with awards that may be made in early 2008. The plan is a 4-year
rolling plan, with annual grants. Rewards may consist of equity-based awards
and/or cash awards. The value of your initial grant will be commensurate with
those awarded to your peers and as determined by the Board's Compensation
Committee. (For the 2007 plan year, the combination of performance stock units,
restricted stock units, and stock options for this level of position had an
estimated value of $240,000 at target.) Plan details will be provided at the
time of your first grant.

      


      As an
ACCO Brands employee you will also be eligible to participate in our health,
welfare, and retirement benefit programs, including term life insurance at two
times base salary. Materials outlining these programs are also
enclosed.

      


      We
understand that you will be relocating from New York to Chicago. To assist you
in your move, you are eligible for the executive benefits described in the
Relocation Program materials included with this letter. You will have until
August of 2008 to initiate your benefits under this plan. During the interim
period, ACCO Brands will cover reasonable travel and temporary housing expenses.
Please note these benefits are provided only upon the condition that you will
pay ACCO Brands on demand its out-of-pocket expenses incurred in connection with
your relocation in the event you voluntarily terminate your employment within
one (1) year of your start date. Should you voluntarily terminate your
employment within the second year of your employment, one-half (1/2) of those
out-of-pocket expenses would need to be repaid to ACCO Brands.

      


      This
offer is contingent upon a satisfactory background check and drug screen results
as well as confirmation of your eligibility to work in the United States. You
must submit to a drug test within 3 days of receipt of this letter. Please refer
to the enclosed Drug Testing Procedure for specifics - no advance appointment is
necessary.

      



      
        
           


        

        
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      This
letter is not intended to constitute a contract of employment. Employment with
ACCO Brands Corporation is "at will" and subject to termination by you or the
company at any time, with or without cause or prior notice. Nothing in this
letter or in any of the accompanying materials alters this at-will
relationship.

      


      David, we
believe this is an exceptional offer package and are confident that ACCO Brands
can offer you the chance to build a rewarding career. We are delighted to have
the opportunity to extend this offer and look forward to you joining
us.

      


      Prior to
your first day of employment, please complete the enclosed forms in the New Hire
Packet and bring them with you on your start date. You must also provide
documentation of your legal right to work in the United States. If you have
specific questions regarding this, please contact me directly at (847)
484-3800.

      


      Please
acknowledge your acceptance of this offer and understanding of its contents and
indicate by returning one signed copy of this letter in the enclosed envelope
within 3 business days; you may
keep the second copy for your personal records. If you have questions on this,
please feel free to contact me. Thank you.

      


      Sincerely,

      


      


      /s/ Sam H. Wheeler 


      


      Sam H.
Wheeler

      Vice
President, Human Resources

      ACCO
Brands Corporation

      


      


      


      


      
        
          
            
              	
                      Accepted
      By:

                    	 
      /s/ David Kaput	
                       

                    	 
      


            

          

        

      

      


      Enclosures

      
        	
                cc:

              	
                Steve
      Rubin

              


      

      
        	
                 
      

              	
                Irma
      Long

              


      

      
        	
                 
      

              	
                Margaret
      Lichtenstein

              


      

       

       

      
        
          
          

        

        
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