Document:

2018 Stock Incentive Plan

 Exhibit 10.18 
 CLEARWATER PAPER CORPORATION 
 RESTRICTED STOCK UNIT AGREEMENT 

2008 STOCK INCENTIVE PLAN 
 THIS RESTRICTED STOCK UNIT AGREEMENT (this “Agreement”) is made and entered into on the Grant Date specified in the attached Addendum to this Agreement, by and between Clearwater Paper
Corporation, a Delaware corporation (the “Corporation”), and the Employee named in the attached Addendum (the “Employee”). 
 W I T N E S S E T H: 
 WHEREAS, the Corporation maintains the Clearwater Paper
Corporation 2008 Stock Incentive Plan (the “Plan”), which is incorporated into and forms a part of this Agreement, and the Employee has been selected to receive a grant of Restricted Stock Units under Section 10 of the Plan;

 NOW, THEREFORE, for valuable consideration, the parties agree as follows: 

1. Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms used in this Agreement shall have
the meanings set forth in this Section 1. Capitalized terms not defined in this Agreement shall have the same definitions as in the Plan. 
 (a) “Addendum” means the attached Addendum. 
 (b)
“Cause” means the occurrence of any one or more of the following: (i) the Employee’s conviction of any felony or any crime involving fraud, dishonesty or moral turpitude; (ii) the Employee’s participation in a
fraud or act of dishonesty against the Corporation, its Subsidiaries or Affiliates or any successor to the Corporation that results in material harm to the business of the Corporation, its Subsidiaries or Affiliates or any successor to the
Corporation; (iii) the Employee’s intentional, material violation of any contract between the Corporation, its Subsidiaries or Affiliates or any successor to the Corporation and the Employee, or any statutory duty the Employee owes the
Corporation, its Affiliates or any successor to the Corporation, in either case that the Employee does not correct within 30 days after written notice thereof has been provided to the Employee, (iv) the commission of an act by the Employee that
could (either alone or with other acts) be considered harassment or discrimination on the basis of gender, race, age, religion, sexual orientation or other protected category; or (v) the commission by the Employee of an alcohol or drug offense
in violation of the Corporation’s, or a Subsidiary’s or an Affiliate’s Substance Abuse Policy for salaried employees. 
 (c) “Disability” means the condition of the Employee who is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment
which can be expected to result in death or which has lasted or can be expected to last for a continuous period of at least 12 months. 
 (d) “Double Trigger Event” means the Employee’s Service with the Corporation or a Subsidiary or an Affiliate is involuntarily terminated without Cause or voluntarily terminated for
Good Reason within one month prior to or 24 months following the effective date of a Change of Control. 

 (e) “Good Reason” means that one or more of the following are undertaken by
the Corporation, its Subsidiaries or Affiliates or any successor to the Corporation without the Employee’s written consent: (i) the assignment to the Employee of any duties or responsibilities that results in a material diminution in the
Employee’s position or function as in effect immediately prior to the effective date of a Change of Control; provided, however, that a change in the Employee’s title or reporting relationships shall not provide the basis for
a voluntary termination with Good Reason; (ii) a reduction, without the Employee’s written consent, by the Corporation, its Subsidiaries or Affiliates or any successor to the Corporation in the Employee’s annual base salary, as in
effect on the effective date of the Change of Control or as increased thereafter; (iii) any failure by the Corporation, its Subsidiaries or Affiliates or any successor to the Corporation to continue in effect (or substantially replace in the
aggregate) any material benefit plan or program in which the Employee was participating immediately prior to the effective date of the Change of Control (hereinafter referred to as “Benefit Plans”), or the taking of any action by the
Corporation, its Subsidiaries or Affiliates or any successor to the Corporation that would adversely affect the Employee’s participation in or reduce the Employee’s benefits under the Benefit Plan; provided, however, that no
voluntary termination of Service with Good Reason shall be deemed to have occurred if the Corporation, its Subsidiaries or Affiliates or any successor to the Corporation provide for the Employee’s participation in benefit plans and programs
that, taken as a whole, are comparable to the Benefit Plans; (iv) a relocation of the Employee’s business office to a location more than 50 miles from the location at which the Employee performs duties as of the effective date of the
Change of Control, except for required travel by the Employee on the Corporation’s, its Subsidiaries’ or Affiliates’ or any successor to the Corporation’s business to an extent substantially consistent with the Employee’s
business travel obligations prior to the effective date of the Change of Control; or (v) a material breach by the Corporation, its Subsidiaries or Affiliates or any successor to the Corporation concerning the terms and conditions of the
Employee’s employment. 
 (f) “Grant Date” means the effective date of the Award of the Restricted Stock
Units to the Employee, as specified in the Addendum. 
 (g) “Retirement” means (i) the Employee’s
early or normal retirement and commencement of benefit payments under the Retirement Plan, or (ii) if the Employee does not have an accrued benefit under the Retirement Plan, the Employee’s termination of Service on or after the earlier of
his or her (A) attainment of age 65 or (B) attainment of age 55 and completion of 10 years of Service. 
 (h)
“Retirement Plan” means the Clearwater Paper Salaried Retirement Plan. 
 (i) “Service” shall
have the meaning given such term under the Plan, except that as used in this Agreement the term “Service” shall be limited to employment and shall exclude service performed as an Outside Director or as a Consultant. 

(j) “Vesting Period” means the period specified in the Addendum. 

  
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 2. Award. Subject to the terms of this Agreement and the Addendum, the Employee is
hereby awarded a grant of Restricted Stock Units in the number set forth in the attached Addendum (the “Award”). Except as otherwise set forth herein, the number of Shares actually payable to the Employee is contingent on the
Employee’s continuous Service for the duration of the Vesting Period. This Award has been granted pursuant to the Plan and is subject to all the terms and provisions thereof, a copy of which is attached and the terms and conditions of which are
incorporated by reference into this Agreement. 
 3. Dividend Equivalents. During the Vesting Period, dividend
equivalents shall be converted into additional Restricted Stock Units based on the closing price of the Stock on the New York Stock Exchange on the dividend payment date. Such additional Restricted Stock Units shall vest or be forfeited in the same
manner as the underlying Restricted Stock Units to which they relate. 
 4. Settlement of Awards. Pursuant to
Section 5 of this Agreement, the Corporation shall deliver to the Employee one Share for each vested Restricted Stock Unit included in the Award and, as applicable, one share for each vested Restricted Stock Unit that corresponds to an accrued
dividend equivalent. Any vested Restricted Stock Units payable to the Employee (including Shares payable pursuant to Section 3 above) shall be paid solely in Shares. Any fractional Share will be rounded to the closest whole Share. 

5. Time of Payment. Except for Shares issuable pursuant to Section 8, the Shares issuable for the vested
Restricted Stock Units shall be delivered to the Employee (or, in the case of the Employee’s death, to the Employee’s beneficiary or representative) as soon as practicable after the end of the Vesting Period (but in no event late than the
15th day of the third calendar month following the date on
which the Vesting Period ends). With respect to Shares issuable in connection with Restricted Stock Units that become vested pursuant to Section 8, such Shares shall be delivered to the Employee as soon as practicable after (but no later than
60 days after) the date on which the Double Trigger Event occurs; provided however, that if the Employee’s Service with the Corporation, a Subsidiary or an Affiliate is involuntarily terminated without Cause or voluntarily terminated for Good
Reason on or prior to the date of the Change of Control to which the Double Trigger Event relates, then such Shares shall be delivered immediately prior to the consummation of such Change of Control. 

6. Retirement, Disability, or Death During the Vesting Period. If the Employee’s Service with the Corporation or a Subsidiary
or an Affiliate terminates during the Vesting Period because of the Employee’s Retirement, due to his or her Disability or due to his or her death, the Employee (or, in the case of the Employee’s death, the Employee’s beneficiary or
representative) will be entitled to any already vested portion of the Restricted Stock Units plus the next tranche of Restricted Stock Units scheduled to vest. 
 7. Termination of Service During the Vesting Period. If the Employee’s Service terminates during the Vesting Period for any reason other than as described in Section 6 or Section 8,
the portion of unvested Restricted Stock Units granted under this Agreement shall be automatically terminated as of the date of such termination of service. 

  
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 8. Change of Control. If a Double Trigger Event occurs during the Vesting Period, the
Restricted Stock Units shall become immediately vested in full and payable in accordance with Section 4 above. 
 9.
Available Shares. The Corporation agrees that it will at all times during the term of this Agreement reserve and keep available sufficient authorized but unissued or reacquired Shares to satisfy the requirements of this Agreement. 

10. Applicable Taxes. In the event the Corporation determines that it is required to withhold state or federal income taxes,
Social Security taxes, or any other applicable taxes as a result of the payment of the Shares, the Corporation will satisfy such withholding requirements by withholding of Shares otherwise payable upon the settlement of the Award, which Shares will
have a Fair Market Value (determined as of the date when taxes would otherwise be withheld in cash) not in excess of the legally required minimum amount of tax withholding. 
 11. Relationship to Other Benefits. Restricted Stock Units shall not be taken into account in determining any benefits under any pension, savings, disability, severance, group insurance or any
other pay-related plan of the Corporation or its Subsidiaries or Affiliates. 
 12. Required Deferral. In the event that,
as of the end of the Vesting Period, the value of the Shares issuable for the vested Restricted Stock Units exceeds the amount that would be deductible by the Corporation due to the application of Section 162(m) of the Code, the payment of that
portion of such Shares having a value in excess of the amount deductible by the Corporation under Section 162(m) of the Code shall be automatically deferred until the first calendar year in which the Corporation reasonably anticipates that
deduction of the payment will not be barred by application of Section 162(m) of the Code. Any portion of such Shares so deferred shall be credited with dividend equivalents which shall be paid out as additional Shares at the same time as the
underlying Shares with respect to which the dividend equivalents are credited. 
 13. Stockholder Rights. Neither the
Employee nor the Employee’s beneficiary or representative shall have any rights as a stockholder with respect to any Shares subject to this Agreement until such Shares shall have been issued to the Employee or the Employee’s beneficiary or
representative. 
 14. Transfers, Assignments, Pledges. Except as otherwise provided in this Agreement, the rights and
privileges conferred by this Agreement shall not be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to sale under execution, attachment or similar process. Upon any
attempt to transfer, assign, pledge, hypothecate or otherwise dispose of the Award, or of any right or privilege conferred by this Agreement, contrary to the provisions of this Section 14, or upon any attempted sale under any execution,
attachment or similar process upon the rights and privileges conferred by this Agreement, the Award and the rights and privileges conferred by this Agreement shall immediately become null and void. However, this Section 14 shall not preclude:
(i) an Employee from designating a beneficiary to succeed, after the Employee’s death, to any rights of the Employee or benefits distributable to the Employee under this Agreement not distributed at the time of the Employee’s death;
or (ii) a transfer of any Award 

  
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hereunder by will or the laws of descent or distribution. In that regard, any such rights shall be exercisable by the Employee’s beneficiary, and such benefits shall be distributed to the
beneficiary, in accordance with the provisions of this Agreement and the Plan. The beneficiary shall be the named beneficiary or beneficiaries designated by the Employee in writing filed with the Corporation in such form and at such time as the
Corporation shall require. If a deceased Employee has not designated a beneficiary, or if the designated beneficiary does not survive the Employee, any benefits distributable to the Employee shall be distributed to the legal representative of the
estate of the Employee. If a deceased Employee has designated a beneficiary and the designated beneficiary survives the Employee but dies before the complete distribution of benefits to the designated beneficiary under this Agreement, then any
benefits distributable to the designated beneficiary shall be distributed to the legal representative of the estate of the designated beneficiary. 
 15. No Employment Rights. Nothing in this Agreement shall be construed as giving the Employee the right to be retained as an employee or as impairing the rights of the Corporation or a Subsidiary
or an Affiliate to terminate his or her employment at any time, with or without cause. 
 16. Administration. The
authority to manage and control the operation and administration of this Agreement shall be vested in the Committee, and the Committee shall have all powers with respect to this Agreement as it has with respect to the Plan. Any interpretation of
this Agreement by the Committee and any decision made by it with respect to this Agreement is final and binding. 
 17.
Interpretation/Applicable Law. This Agreement shall be interpreted and construed in a manner consistent with the terms of the Plan and in accordance with the laws of the State of Delaware (without regard to choice of law principles). If there
is any discrepancy between the terms and conditions of this Agreement and the terms and conditions of the Plan, the terms and conditions of the Plan shall control. 
 18. Term of the Agreement. The term of this Agreement shall end upon the earlier of (i) the delivery of all of the Shares or other consideration to be issued in exchange for the Restricted
Stock Units (and accrued dividend equivalents) subject to the Award granted to the Employee or (ii) upon the termination of the Employee’s Service for any reason other than retirement under the Retirement Plan, the Employee’s
Disability or death or in connection with a Double Trigger Event. 
 19. Compliance with Section 409A of the Code.
The provisions of this Agreement regarding the payments to be provided to the Employee are intended to comply with Section 409A of the Code or an exemption therefrom, and any ambiguity in any such provision shall be resolved in a manner that
supports compliance with Section 409A or an exemption therefrom. Without limiting the foregoing, 
  

	 	a.	The provisions of Sections 5 and 8 requiring payment after a Double Trigger Event or otherwise upon an Employee’s termination of Service shall be construed to
require that the Employee “separate from service” with Clearwater and its Affiliates within the meaning of Treasury Regulation Section 1.409A-1(h) as a condition to the Employee receiving such payment. 

  
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	 	b.	If the Employee is entitled to receive a payment subject to Section 409A of the Code after a Double Trigger Event or otherwise upon a termination of Service, and
the Corporation determines in good faith that the Employee is a “specified employee” as defined in Section 409A as of the date his Service terminates, then such payment shall be deferred and paid 6 months and 1 day following the date
of the Employee’s termination of Service (or if earlier, payment shall be made within 60 days after the date of the Employee’s death). 

  

	 	c.	Any deferrals of payment required under Section 12 are intended to comply with Section 409A of the Code. 

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 IN WITNESS WHEREOF, each party has or has caused this Agreement to be executed as of
the respective date set forth below. 
  

			
	CORPORATION:
	
	 Clearwater Paper Corporation,
 a Delaware corporation

		
	By:	 	 /s/ Michael T. Edicola

	 Name: Michael T. Edicola
 Title:   Sr. Vice President, Human Resources
 Date:
  7/2/12

	
	EMPLOYEE:
	
	 John D. Hertz

	[Name of Employee Printed]
	
	 /s/ John D. Hertz

	[Employee Signature]
	
	Date: 7/3/2012

  
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 STOCK INCENTIVE PLAN 
 ADDENDUM TO 
 RESTRICTED STOCK UNIT AGREEMENT 

Name of Employee: HERTZ, JOHN D.  
  

	1.	Date of Grant: June 28, 2012  

  

	2.	Target Grant of Restricted Stock Units: 20,000  

  

	3.	The Vesting Schedule for this Restricted Stock Unit Award is: 

  

	 	A.	25% of the RSU award will vest on the first anniversary of the date of the award, 

 

	 	B.	25% of the RSU award will vest on the second anniversary of the date of the award, 

 

	 	C.	25% of the RSU award will vest on the third anniversary of the date of the award, and 

 

	 	D.	25% of the RSU award will vest on the fourth anniversary of the date of the award. 

 The Restricted Stock Unit Agreement is incorporated by reference into this Addendum and the terms of the Restricted Stock Unit Agreement shall be controlling in the event of any discrepancy. 

The RSU award, along with all additional shares attributable to dividend equivalents, shall be settled following the final vesting date unless you elect
to defer receipt of the vested RSUs and accrued dividends to a future date in accordance with section 409A of the Internal Revenue Code. 

IN WITNESS WHEREOF, the Corporation has caused this Addendum to the Restricted Stock Unit Agreement to be executed on its behalf by its duly
authorized representative, and the Employee has executed the same on the date indicated below. 
  

							
		 		 	CLEARWATER PAPER CORPORATION
				
	Date: 7/2/12	 		 	By:	 	 /s/ Michael T. Edicola

		 		 		 	Senior Vice President, Human Resources
				
	Date: 7/3/12	 		 	By:	 	 /s/ John D. Hertz

		 		 		 	EmployeeEX-10.3

 Exhibit 10.3 
 Amendment No. 2 to 
 Employment Agreement 

August 1, 2012 

Mr. Kenneth W. Lowe 
 1036 Craigland
Court 
 Knoxville, TN 37919 
  

	 	Re:	Amendment to Employment Agreement 

 Dear Ken:

 This Amendment No. 2 (this “Amendment”) to your Employment Agreement with Scripps Networks Interactive, Inc. (the
“Company”), dated as of March 29, 2010, as amended as of October 6, 2010 (the “Employment Agreement”), amends the Employment Agreement as expressly stated herein. 

 

	1.	Defined Terms. The capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings set forth in the Employment Agreement.

  

	2.	Term. The first sentence of Section 1 of the Employment Agreement is amended by deleting “June 30, 2013” and replacing it with “December 31,
2015”. 

  

	3.	Termination. The last subsection of Section 10(d) of the Employment Agreement shall be renumbered from “(v)” to “(vi)”.

  

	4.	Severance Contingent on Release, Waiver and Non-Compete Agreement. 

  

	 	(a)	The first sentence of Section 11 of the Employment Agreement is deleted in its entirety and replaced with the following: 

“If, pursuant to paragraph 1, the Company gives proper notice that it does not intend to employ you beyond the expiration of the
Term, and your employment hereunder ends as a result, if you execute and do not later revoke or materially violate the Release, Waiver and Non-Compete Agreement in a form materially similar to the document attached hereto as Exhibit A, you will be
entitled to the benefits described in paragraphs 10(d)(iv), (v) and (vi).” 
  

	 	(b)	The last sentence of Section 11 is deleted in its entirety. 

  

	5.	No Other Amendments. Except as expressly amended, modified and supplemented hereby, the provisions of the Employment Agreement are and will remain in full force
and effect and shall be binding on the parties thereto. References in the Employment Agreement or in any other document to the Employment Agreement shall refer to the Employment Agreement, as amended hereby. 

 

	6.	Counterparts. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which taken together shall
constitute one and the same agreement. 

	7.	Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of Tennessee. 

If the foregoing correctly sets forth our understanding, please sign, date and return all three copies of this Amendment to the undersigned for execution
on behalf of the Company; after this Agreement has been executed by the Company and a fully-executed copy returned to you, it shall constitute a binding agreement between us. 

 

	
	 Sincerely yours,

	
	 /s/ A.B. Cruz III

	 A.B. Cruz III

  

	
	 ACCEPTED AND AGREED:

	
	 /s/ Kenneth W. Lowe

	 Kenneth W. Lowe

	
	 Dated: August 1, 2012

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