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                                                                   Exhibit 10(2)
                              THE MEAD CORPORATION
                              --------------------
                     THE CORPORATE LONG TERM INCENTIVE PLAN
                     --------------------------------------
                                      2000
                                      ----

OBJECTIVE
---------
The objective of the Corporate Long Term Incentive Plan is to reward senior
executives for adding value to the Corporation by delivering shareholder value
that is that ranks high relative to shareholder value achieved by the S&P 500
index and by Mead's Forest Products peers.

TERM OF THE PLAN
----------------
This Corporate Long Term Incentive Plan is a two year plan spanning 1998 and
1999, with the performance period ending December 31, 2000. The next Long Term
Incentive Plan covers the period 2000 and 2001, with the performance period
ending December 31, 2001. All eligible executives are thus participants in two
plan cycles at any time.

Provisions detailed in Attachment 1 and forming a part of this plan govern in
the event of a Change in Control of the company.

PARTICIPATION ELIGIBILITY
-------------------------
All Officers of the Corporation, Division Presidents and Executives of salary
grade 23 or above are participants in the plan.

PAYOUT ELIGIBILITY
------------------
Participants must be employees of the company, an affiliate or a subsidiary at
the end of the two-year plan performance period to receive payout from this
plan. An appropriate proration of earned awards may be made in case of death,
disability, retirement, hire or transfer during the second year of the
performance period. In such cases, the incentive target will be pro-rated to
reflect the months of service. There will be no such adjustment for death,
disability, or retirement during the first year of the performance period.

LONG TERM INCENTIVE TARGET
--------------------------
The 2000 Long Term Incentive Target by grade is shown in Attachment 2. This
Target will be adjusted annually, based on competitive data.

TOTAL PAYOUT DETERMINATION
--------------------------
This plan uses as the key performance measure, the 2-year Total Shareholder
Return - TSR - (stock price growth plus dividend reinvestment) of Mead relative
to two comparator groups:

     1.   The S&P 500 Index.

     2.   Mead's Forest Products peers (FP PEERS), comprising of those members
          of the Paper Industry Compensation Association whose major business
          lines are similar to the Mead business segments, and for which public
          financial reporting is provided by Value Line Reports. For the plan
          cycle ending December 31, 2000, these companies are identified as:



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                           Boise Cascade
                           Bowater
                           Georgia Pacific
                           International Paper
                           Potlatch
                           Smurfit/Stone Container
                           Temple-Inland
                           Westvaco
                           Weyerhaeuser
                           Willamette

For the current plan period, the TSR is measured on December 31, 1998 and
December 31, 2000.

A single matrix (Attachment 3) determines the Payout Factor on the basis of
Mead's TSR relative to the TSR of each of the above comparator groups.

The long term incentive payout is determined as:

      L. T. Incentive Payout   =   L.T. Incentive Target  X  Payout Factor

INDIVIDUAL PAYOUT DETERMINATION
-------------------------------
The above calculation will not normally be further adjusted for any Participant
on the basis of individual contribution, except by approval of the Compensation
Committee.

PAYOUT LIMITATIONS
------------------
Payout shall be limited on the basis of the following financial results for the
corporation:

     1.   The Committee may, but is not obligated to, determine a ZERO payout if
          Mead TSR is negative, even if Mead TSR exceeds either or both
          comparator groups.

     2.   There shall be no payout to any participant if corporate earnings are
          negative in the final year of the performance period.

     3.   Payout is capped at 200% of target, for any level of performance.

ACCOUNTING FOR PAYOUT
---------------------
Payout will be estimated periodically and the required corporate accrual of
payout will be booked against earnings during the year. Approved incentive
awards will be prepared and expensed to earnings at the time of payout.
Restricted stock certificates will be issued by the Transfer Agent of the
corporation.

RECOMMENDATIONS AND APPROVAL
----------------------------
The Compensation Committee approves this Plan, and reviews total funding and
individual payouts under the plan, and the amount, use and replenishment of any
reserve funds.



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The CEO recommends all individual payouts to the Compensation Committee of the
Board of Directors for approval. Payouts for the CEO and the COO are approved by
the Board of Directors.

Form of payout will be determined by the Compensation Committee. The Committee
anticipates that the payout will normally be delivered to all participants as
25% restricted stock (with a 6-month vesting period), and the balance in either
cash or as restricted stock, as elected by each participant. The Board of
Directors may require a mandatory deferral of all or any portion of the payout
to ensure full deductibility of compensation to any executive.

ADMINISTRATION
--------------
The Plan is administered by the Compensation Committee of the Board. The
Compensation Committee has delegated administration to the Corporate Vice
President, Human Resources.

RESERVED RIGHTS
---------------
The Mead Corporation reserves the right to alter, amend, suspend or terminate
any or all provisions of this Corporate Long Term Incentive Plan, except such
actions shall neither inhibit nor hinder the rights of any individual with
respect to earned and credited awards which have been deferred. Designation of a
position as eligible for participation neither guarantees the individual a right
to an incentive payment nor a right to continued employment.


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                                  Attachment 1

Effect of Change in Control
---------------------------
Notwithstanding any foregoing Plan provision to the contrary (and
notwithstanding any lack of satisfaction of any condition or requirement which
would otherwise apply to an award), immediately upon the occurrence of a Change
in Control (as defined in the next section hereof), (i) if the Change in Control
occurs after the completion of the performance period ending December 31, 1999
(the "Performance Period"), any award with respect to the Performance Period
which has already been determined, but has not yet been paid or deferred, shall
be immediately paid in full in cash to the respective Participant, (ii) if the
Change in Control occurs after the completion of the Performance Period, if no
awards have been determined with respect to the Performance Period, the amount
(if any) of each such award shall be immediately determined in accordance with
the provisions of the Plan and shall be immediately paid in full in cash to the
respective Participant, and (iii) if the Change in Control occurs during the
Performance Period (the `Change-in-Control Performance Period'), each
Participant shall immediately be paid a pro-rata award for the Performance
Period, the amount of which shall equal the product of multiplying the
Participant's individual incentive target by a fraction, the numerator of which
shall be the number of days in the Change-in-Control Performance Period which
have elapsed as of the date of the Change in Control, and the denominator of
which shall be the number of days in the Performance Period. Notwithstanding the
immediately preceding sentence, no amounts shall be paid pursuant thereto which
would, in the opinion of counsel selected by Mead's independent auditors,
constitute `parachute payments' within the meaning of Section 280G(b)(2)(A) of
the Internal Revenue Code (the `Code') and, when added to any other `parachute
payments' which would be received by the Participant pursuant to the terms of
any other plan, arrangement or agreement with Mead, any person whose actions
result in a change in control of Mead or any person affiliated with Mead or such
person, would be subject to the tax imposed by Section 4999 of the Code.

Notwithstanding any provision to the contrary in the Plan, upon and after the
occurrence of a Change in Control, (i) the Compensation Committee shall have no
power to cause a Participant's award to be paid in any manner other than as a
cash lump sum, (ii) the Board of Directors shall have no power to require a
mandatory deferral of all or any portion of the award, and (iii) neither the
Compensation Committee, the Board of Directors nor any other person or entity
shall have the right to terminate or amend the Plan in any manner which would
adversely affect the rights or expectancies of a Participant with respect to
payment of an award pursuant to this section, as in effect immediately before
the Change in Control.

Definition of Change in Control
-------------------------------
A `Change in Control' shall be deemed to have occurred if an event set forth in
any one of the following paragraphs shall have occurred:

(i)      date of expiration of a Tender Offer (as defined below), other than an
         offer by Mead, if the offeror acquires Shares (as defined below)
         pursuant to such Tender Offer;

(ii) the date of approval by the shareholders of Mead of a definitive agreement:
(x) for the merger or consolidation of Mead or any direct or indirect subsidiary
of Mead into or with another corporation,



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other than (1) a merger or consolidation which would result in the voting
securities of Mead outstanding immediately prior thereto continuing to represent
((i) in the case of a merger or consolidation of Mead, either by remaining
outstanding or by being converted into voting securities of the surviving entity
or any parent thereof, or (ii) in the case of a merger or consolidation of any
direct or indirect subsidiary of Mead, either by remaining outstanding if Mead
continues as a parent of the merged or consolidated subsidiary or by being
converted into voting securities of the surviving entity or any parent thereof)
at least 51% of the combined voting power of the voting securities of Mead or
such surviving or parent entity outstanding immediately after such merger or
consolidation, or (2) a merger or consolidation effected to implement a
recapitalization of Mead (or similar transaction) in which no Person (as defined
below) is or becomes the Beneficial Owner (as defined below), directly or
indirectly, of securities of Mead (not including in the securities Beneficially
Owned by such Person any securities acquired directly from Mead or its
Affiliates) representing 25% or more of the combined voting power of Mead's then
outstanding securities, or (y) for the sale or disposition of all or
substantially all of the assets of Mead, other than a sale or disposition by
Mead for all or substantially all of Mead's assets to an entity, at least 51% of
the combined voting power of the voting securities of which are owned (directly
or indirectly) by shareholders of Mead in substantially the same proportions as
their ownership of Mead immediately prior to such sale or disposition;

(iii) (x) any Person is or becomes the Beneficial Owner of 25% or more of the
voting power of the then outstanding securities of Mead (not including in the
securities beneficially owned by such Person any securities acquired directly or
indirectly from Mead or its affiliates), excluding any Person who becomes such a
Beneficial Owner in connection with a transaction described in clause (x)(1) of
paragraph (ii) above or (y) the date of authorization, by both a majority of the
voting power of Mead and a majority of the portion of such voting power
excluding the voting power of interested Shares, of a control share acquisition
(as such term is defined in Chapter 1701 of the Ohio Revised Code); and

(iv) a change in the composition of the Board of Directors such that individuals
who were members of the Board of Directors on the date two years prior to such
change (and any new directors (other than a director whose initial assumption of
office is in connection with an actual or threatened election contest, including
but not limited to a consent solicitation, relating to the election of directors
of Mead) who were elected, or were nominated for election by Mead's shareholders
with the affirmative vote of at least two-thirds of the directors then still in
office who either were directors at the beginning of such two year period or
whose election or nomination for election was previously so approved) no longer
constitute a majority of the Board of Directors.

Notwithstanding the foregoing, a `Change in Control' shall not be deemed to have
occurred by virtue of the consummation of any transaction or series of
integrated transactions immediately following which the record holders of the
common stock of Mead immediately prior to such transaction or series of
transactions continue to have substantially the same proportionate ownership in
an entity which owns all or substantially all of the assets of Mead immediately
following such transaction or series of transactions.

`Affiliate' shall have the meaning set forth in Rule 12b-2 promulgated under
Section 12 of the Exchange Act.



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`Beneficial Owner' shall have the meaning defined in Rule 13d-3 under the
Exchange Act.

`Exchange Act' shall mean the Securities Exchange Act of 1934, as amended from
time to time.

`Person' shall have the meaning given in Section 3(a)(9) of the Exchange Act, as
modified and used in Sections 13(d) and 14(d) thereof, except that such term
shall not include (i) Mead or any of its subsidiaries, (ii) a trustee or other
fiduciary holding securities under an employee benefit plan of Mead or any of
its Affiliates, (iii) an underwriter temporarily holding securities pursuant to
an offering of such securities, or (iv) a corporation owned, directly or
indirectly, by the shareholders of Mead in substantially the same proportions as
their ownership of stock of Mead.

`Shares' shall mean shares of common stock, without par value, of The Mead
Corporation.

`Tender Offer' shall mean a tender offer or a request or invitation for tenders
or an exchange offer subject to regulation under Section 14(d) of the Exchange
Act and the rules and regulations thereunder, as the same may be amended,
modified or superseded from time to time.


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                                  Attachment 2

                     THE CORPORATE LONG TERM INCENTIVE PLAN
                     --------------------------------------
                                 PAYOUT TARGETS
                                 --------------
                                      2000

                 Grade                        Incentive Target
                 -------                      ----------------
                   33                             $    834,700
                   32                                  692,700
                   31                                  571,200
                   30                                  471,000
                   29                                  385,900
                   28                                  316,800
                   27                                  260,400
                   26                                  214,800
                   25                                  178,300
                   24                                  146,000
                   23                                  125,800
                   22                                   75,700
                   21                                   59,300


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                                 Attachment 3

                         Mead Long Term Incentive Payout
                         -------------------------------
                         For 1999-2000 Performance Cycle
                              Payout - % of Target
                              --------------------
<TABLE>
<S>                                   <C>      <C>     <C>      <C>      <C>       <C>      <C>      <C>        <C>        <C>
                 +35%                 1.70     0%      136%     153%     170%      187%     200%     200%       200%       200%
                 +30%                 1.60     0%      128%     144%     160%      176%     192%     200%       200%       200%
                 +25%                 1.50     0%      120%     135%     150%      165%     180%     195%       200%       200%
                 +20%                 1.40     0%      112%     126%     140%      154%     168%     182%       196%       200%
                 +15%                 1.30     0%      104%     117%     130%      143%     156%     169%       182%       200%
                 +10%                 1.20     0%       96%     108%     120%      132%     144%     156%       168%       200%
Mead 2-Yr TSR    +5%                  1.10     0%       88%      99%     110%      121%     132%     143%       154%       187%
 Relative to     Average              1.00     0%       80%      90%     100%      110%     120%     130%       140%       170%
   S&P 500       -5%                  0.90     0%       72%      81%      90%       99%     108%     117%       126%       153%
                 -10%                 0.80     0%       64%      72%      80%       88%      96%     104%       112%       136%
                 -15%                 0.70     0%       56%      63%      70%       77%      84%      91%        98%       119%
                 -20%                 0.60     0%       48%      54%      60%       66%      72%      78%        84%       102%
                 -25%                 0.50     0%       40%      45%      50%       55%      60%      65%        70%        85%
                 -30%                 0.40     0%       32%      36%      40%       44%      48%      52%        56%        68%
                 -35%                 0.30     0%       24%      27%      30%       33%      36%      39%        42%        51%
                 -40%                 0.20     0%       16%      18%      20%       22%      24%      26%        28%        34%
                 -45%                 0.10     0%        8%       9%      10%       11%      12%      13%        14%        17%
                 -50%                 0.00     0%        0%       0%       0%        0%       0%       0%         0%         0%

                            Multipliers        0      0.80     0.90     1.00      1.10     1.20     1.30       1.40       1.70
                                            7-11        6       5        4         3        2        1          1
                                                    Median                                          Top       Top        Top
     Max Payout:        200%                                             Mead vs. Forest Products
                                                             Ranking of 2-Year Total Shareholder Return (TSR)
</TABLE>


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