exv10w6



 





 Exhibit 10.6



[ACCO WORLD Logo]

ACCO WORLD CORPORATION

300 Tower Parkway

Lincolnshire, IL 60069-3640

Tel 847.541.9500

Fax 847.478.0068



September 5, 2003



Mr. Neal V. Fenwick

301 Ridge Road

Lake Forest, IL 60045



Re: Employment Matters



Dear Neal:




          This letter addresses certain terms of your employment as Executive Vice President, Finance
and Administration with ACCO World Corporation (the “Company”), and amends the Employment Offer
dated September 8, 1999 from ACCO World Corporation and the amendment of the Employment Offer dated
November 8, 2000 (together, the “Employment Offer”). The initial term of the Employment Offer will
expire shortly. In consideration of your decision to remain with the Company in Lincolnshire,
Illinois, this Letter Agreement extends the initial term of the Employment Offer until June 30,
2005, and amends it as provided below.



          The terms of your Employment Offer that are still applicable as of the date of this letter
will continue apply until June 30, 2005, except as modified below. In addition, any reference in
the Employment Offer to the dates of September 8, 2003 or October 18, 2003 will be replaced with
the date June 30, 2005.



Educational Assistance




          ACCO will reimburse the annual tuition cost for your children, Jennifer and Lawrence, at Lake
Forest Country Day School until June, 2004, for Jennifer and June, 2005, for Lawrence, provided you
remain employed by the Company or you are receiving severance pay under the ACCO Executive
Severance Plan. You will need to submit documentation supporting the tuition costs in order to
receive reimbursement. The reimbursement will be “grossed up” (if necessary) to cover any personal
tax liability you may incur.



 









 





Tax and Legal Consultation




          The Company understands that your decision to remain in the US for an additional period raises
certain legal and tax issues that you will need to address. Accordingly, the Company will
reimburse fees you incur during the term of this Letter Agreement for legal and tax services
related to estate planning, up to a maximum of $6,000. The annual tax preparation services
provided under the Employment Offer will continue to be provided as described in the Employment
Offer with respect to U.S. tax returns for years through 2005.



Termination




          The termination provisions of the Employment Offer shall continue to apply until June 30,
2005. However, paragraph 6 of the November 8, 2000 amendment is hereby amended to clarify that the
UK statutory redundancy payments referenced in such paragraph will be
calculated in accordance with ACCO UK Limited’s normal severance practice for UK employees.



Repatriation and Relocation





	 	•  	The provisions in paragraph 4 of the November 8, 2000 amendment will apply only if,
following a change in control, you are terminated, demoted or voluntarily terminate
employment. If your employment is terminated by the Company or you resign during the term
of this Letter Agreement but not following a change of control, the Company will provide
Repatriation and Relocation benefits for you and your family in accordance with the
Company’s standard Relocation Policy.





          Neal, we are looking forward to your remaining in Lincolnshire. Please sign this letter in
the space below to confirm your agreement to and acceptance of these amendments to the Employment
Offer and the extension of its term until June 30, 2005.



Very truly yours,




	 	 	 
	  /s/ Sam H. Wheeler

	 	 
	 	 	 
	Sam H. Wheeler

Vice President – Human Resources
	 	 
	 
	 	 
	AGREED TO AND ACCEPTED:
	 	 
	 
	 	 
	  /s/ Neal V. Fenwick
	 	 
	 	 	 
	Neal V. Fenwick
	 	 
	 
	 	 
	Date: 7th September 2003