Document:

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                                                                 Exhibit 10.8(b)

A

Mr.(First_Name)(MI)(Last_Name)
International Paper Company
(TITLE)
(ADDRESS)

(CITY),(STATE)(ZIP)

Dear(First):

     International Paper Company (the "Company") considers the establishment and
maintenance of a sound and vital management to be essential to protecting and
enhancing the best interests of the Company and its shareholders. In this
connection, the Company recognizes that, as is the case with many publicly held
corporations, the possibility of a change of control may exist and that such
possibility, and the uncertainty and questions which it may raise among senior
management, may result in the departure or distraction of senior management
personnel to the detriment of the Company and its shareholders. Accordingly, the
Company's Board of Directors has determined that appropriate steps should be
taken to reinforce and encourage the continued attention and dedication of
members of the Company's senior management, including yourself, to their
assigned duties without distraction in the face of the potentially disturbing
circumstances arising from the possibility of a change of control of the
Company.

     In order to induce you to remain in the employ of the Company, and to
continue to exercise your special skills and knowledge at the Company, this
letter agreement (this "Agreement") sets forth the benefits which the Company
agrees will be provided to you in the event your employment with the Company is
terminated subsequent to a Change of Control (as defined in Section 2) under the
circumstances described below.

     1.   TERM

     This Agreement shall commence on the date hereof and, unless there is a
Change of Control, shall continue until the earliest of (a) your termination of
employment as a "full-time employee" of the Company, (b) the date when you
attain the age of 65 years or (c) the date when this Agreement is terminated by
the Company in accordance with the next sentence. If a Change of Control has not
occurred, then the Company shall have the right at any time to terminate this
Agreement by giving you 6 months prior written notice of termination of this
Agreement.

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     If a Change of Control occurs at any time prior to the termination of this
Agreement pursuant to the preceding paragraph, then this Agreement shall
terminate on the second anniversary of such Change of Control.

     2.   CHANGE OF CONTROL

          (a)  For purposes of this Agreement, a "Change of Control" shall be
     deemed to have occurred if:

               (i)   any "person" (as such term is used in Section 13(d) of the
          Securities Exchange Act of 1934, as amended, other than employee
          benefit plans sponsored by the Company) is or becomes the beneficial
          owner, directly or indirectly, of securities of the Company
          representing 20% or more of the combined voting power of the Company's
          then outstanding securities;

               (ii)  during any period of 2 consecutive years, individuals who
          at the beginning of such period constitute the Board of Directors of
          the Company (the "Board") cease for any reason to constitute at least
          a majority thereof, unless the election, or the nomination for
          election, by the Company's shareholders of each new director was
          approved by a vote of at least two-thirds (2/3) of the directors then
          still in office who were directors at the beginning of the period;

               (iii) a reorganization, merger or consolidation of the Company is
          consummated, in each case, unless, immediately following such
          reorganization, merger or consolidation, (x) more than 50% of the then
          outstanding shares of common stock of the corporation resulting from
          such reorganization, merger or consolidation and the combined voting
          power of the then outstanding securities of such corporation entitled
          to vote generally in the election of directors is then beneficially
          owned, directly or indirectly, by all or substantially all of the
          persons who were the beneficial owners of the Company's securities
          outstanding immediately prior to such reorganization, merger or
          consolidation, (y) no person (other than employee benefit plans
          sponsored by the Company) beneficially owns, directly or indirectly,
          20% or more of the then outstanding shares of common stock of the
          corporation resulting from such reorganization, merger or
          consolidation or the combined voting power of the then outstanding
          securities of such corporation entitled to vote generally in the
          election of directors and (z) at least a majority of the members of
          the board of directors of the corporation resulting from such
          reorganization, merger or consolidation were members of the Board at
          the time of the execution of the initial agreement providing for such
          reorganization, merger or consolidation;

               (iv)  the sale or other disposition of all or substantially all
          of the assets of the Company is consummated, other than to any
          corporation with respect to which, immediately following such sale or
          other disposition, (x) more than 50% of the then outstanding shares of
          common stock of such corporation and the combined voting power of the
          then outstanding securities of such corporation entitled to vote
          generally in the

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                  election of directors is then beneficially owned, directly or
                  indirectly, by all or substantially all of the persons who
                  were the beneficial owners of the Company's securities
                  outstanding immediately prior to such sale or other
                  disposition, (y) no person (other than employee benefit plans
                  sponsored by the Company) beneficially owns, directly or
                  indirectly, 20% or more of the then outstanding shares of
                  common stock of such corporation or the combined voting power
                  of the then outstanding securities of such corporation
                  entitled to vote generally in the election of directors and
                  (z) at least a majority of the members of the board of
                  directors of such corporation were members of the Board at the
                  time of the execution of the initial agreement or action of
                  the Board providing for such sale or other disposition; or

                        (v)   the shareholders of the Company approve a complete
                  liquidation or dissolution of the Company;

          provided that a "Change of Control", as it affects any award specified
          in the International Paper Company Long-Term Incentive Compensation
          Plan in effect immediately prior to a Change of Control ("the LTICP"),
          shall have the meaning for a "Change of Control of the Company" set
          forth in such plan and, as it affects any benefits pursuant to the
          International Paper Company Unfunded Supplemental Retirement Plan for
          Senior Managers in effect immediately prior to a Change of Control
          (the "SERP"), shall have the meaning for a "Change of Control" set
          forth in the SERP.

                  (b)   Provided that you remain in the employment of the
          Company as of the date immediately preceding a Change of Control, then
          upon the occurrence of such Change of Control:

                        (i)   each stock option to purchase shares of the common
                  stock of the Company (or such other securities of the Company
                  that may be substituted for such stock of the Company) granted
                  to you by the Company under any plan, arrangement or agreement
                  before or after the date hereof (but prior to the Change of
                  Control), including the LTICP, and then held by you shall
                  become fully (100%) vested and exercisable;

                        (ii)  any and all forfeiture provisions, transfer
                  restrictions and any other restrictions applicable to each
                  award of restricted stock of the Company (or such other
                  securities of the Company that may be substituted for such
                  stock of the Company) granted to you by the Company under any
                  plan, arrangement or agreement before or after the date hereof
                  (but prior to the Change of Control), including the LTICP, and
                  then held by you shall immediately lapse in their entirety;

                        (iii) the performance goals applicable to any
                  performance-based awards granted to you by the Company under
                  any plan, arrangement or agreement (other than any short-term
                  annual incentive plan) before or after the date hereof (but
                  prior to the Change of Control), including the LTICP, and then
                  held by you will be deemed to have been fully satisfied (i.e.,
                  achieved at 100% of target, or, if higher and determinable,
                  achieved at the actual level) and all forfeiture provisions,
                  transfer restrictions and any other restrictions applicable to
                  any such

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          performance-based awards shall immediately lapse in their entirety and
          all such awards shall be fully and immediately payable; and

               (iv) each executive continuity award and each other long-term
          award granted to you by the Company under any plan, arrangement or
          agreement before or after the date hereof (but prior to the Change of
          Control), including the LTICP, and then held by you shall become fully
          (100%) vested and, if applicable, exercisable.

     3.   TERMINATION OF EMPLOYMENT FOLLOWING CHANGE IN CONTROL

     If a Change of Control occurs, you shall be entitled to the benefits
provided in Section 5 upon the subsequent termination of your employment during
the term of this Agreement, unless such termination is (x) because of your
death, Disability (as defined below) or Retirement (as defined below), (y) by
the Company for Cause (as defined below) or (z) by you, other than for Good
Reason (as defined below).

          (a) Disability; Retirement. If, as a result of your incapacity due to
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     physical or mental illness, you shall have been absent from the full-time
     performance of your duties with the Company for 6 consecutive months, and
     within 30 days after written notice of termination is given you shall not
     have returned to the full-time performance of your duties, the Company may
     terminate your employment for "Disability". Termination based on
     "Retirement" shall mean voluntary termination after your becoming eligible
     for "normal retirement" under the Company's pension plan in effect
     immediately prior to a Change of Control.

          (b) Cause. Termination by the Company of your employment for "Cause"
              -----
     shall mean termination upon:

              (i)  the willful and continued failure by you substantially to
          perform your duties with the Company (other than any such failure
          resulting from your incapacity due to physical or mental illness or
          any such actual or anticipated failure resulting from termination by
          you for Good Reason) after a written demand for substantial
          performance is delivered to you by the Board, which demand
          specifically identifies the manner in which the Board believes that
          you have not substantially performed your duties; or

              (ii) the willful engaging by you in conduct which is demonstrably
          and materially injurious to the Company, monetarily or otherwise.

     For purposes of this Section 3(b), no act, or failure to act, on your part
shall be deemed "willful" unless done, or omitted to be done, by you not in good
faith and without reasonable belief that your action or omission was in the best
interest of the Company.

     Notwithstanding the foregoing, you shall not be deemed to have been
terminated for Cause unless and until there shall have been delivered to you a
copy of a resolution

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duly adopted by the affirmative vote of not less than three-quarters (3/4) of
the entire membership of the Board at a meeting of the Board called and held for
such purpose (after reasonable notice to you and an opportunity for you,
together with your counsel, to be heard before the Board), finding that in the
good faith opinion of the Board you were guilty of conduct set forth above in
Sections 3(b)(i) or 3(b)(ii) and specifying the particulars thereof in detail.

               (c) Good Reason. You shall be entitled to terminate your
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          employment for Good Reason. For purposes of this Agreement, "Good
          Reason" shall mean, without your express written consent, any of the
          following:

                   (i)   the assignment to you of any duties with the Company
          (or with a successor or affiliated company) inconsistent with your
          status as an executive, or a substantial adverse alteration in the
          nature or status of your responsibilities, from those in effect
          immediately prior to a Change of Control;

                   (ii)  a reduction in your annual base salary as in effect on
               the date hereof or as the same may be increased from time to time
               (except for across-the-board salary reductions similarly
               affecting all executives of the Company and all executives of any
               person in control of the Company);

                   (iii) the failure by the Company to continue in effect any
               material compensation plan in which you participate (including
               but not limited to the Company's performance share plan, stock
               option plan and management incentive plan, each as in effect
               immediately prior to a Change of Control) or any substitute plans
               adopted prior to the Change of Control, unless an equitable
               arrangement (embodied in an ongoing substitute or alternative
               plan) has been made with respect to such plan in connection with
               the Change of Control, or the failure by the Company to continue
               your participation therein on substantially the same basis, both
               in terms of the amount of benefits provided and the level of your
               participation relative to other participants, as existed
               immediately prior to the Change of Control;

                   (iv)  except for across-the-board reductions similarly
               affecting all executives of the Company and all executives of any
               person in control of the Company: (A) the failure by the Company
               to continue to provide you with benefits substantially similar to
               those enjoyed by you under any of the Company's pension, life
               insurance, medical, health and accident or disability plans in
               which you were participating at the time of a Change of Control,
               (B) the taking of any action by the Company which would directly
               or indirectly materially reduce any of such benefits or deprive
               you of any material fringe benefit enjoyed by you at the time of
               the Change of Control or (C) the failure by the Company to
               provide you with the number of paid vacation days to which you
               are entitled on the basis of years of service with the Company in
               accordance with the Company's normal vacation policy in effect
               immediately prior to the Change of Control;

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                   (v)    the failure of the Company to obtain a satisfactory
               agreement from any successor to assume and agree to perform this
               Agreement;

                   (vi)   any purported termination of your employment which is
               not effected pursuant to a Notice of Termination satisfying the
               requirements of Section 3(d) (and, if applicable, the
               requirements of Section 3(b((; for purposes of this Agreement, no
               such purported termination shall be an effective termination by
               the Company;

                   (vii)  the individual holding the position of Chief Executive
               Officer prior to the time of occurrence of the event constituting
               the Change of Control shall have ceased to hold such position
               (except when such cessation is the result of the person's
               Disability or Retirement or was for Cause); or

                   (viii) the Company's requiring you to be based anywhere
               other than the Company's current principal executive offices,
               except for required travel on the Company's business to an extent
               substantially consistent with your present business travel
               obligations.

          Your right to terminate your employment pursuant to this Section 3(c)
shall not be affected by your incapacity due to physical or mental illness.

               (d) Notice of Termination. Any termination of your employment by
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          the Company or by you shall be communicated by written Notice of
          Termination to the other party hereto in accordance with Section 7.
          For purposes of this Agreement, a "Notice of Termination" shall mean a
          notice which shall indicate the specific termination provision in this
          Agreement relied upon and shall set forth in reasonable detail the
          facts and circumstances claimed to provide a basis for termination of
          your employment under the provision so indicated, and shall specify a
          date for termination of employment ("Date of Termination") which shall
          not be less than 30 days or more than 60 days after the date of
          delivery of the Notice of Termination.

          4.   DEATH, DISABILITY OR ELIGIBILITY FOR NORMAL RETIREMENT

          This Agreement shall not be applicable in the event of termination of
your employment because of your death, Disability or Retirement.

          5.   COMPENSATION UPON TERMINATION

          If a Change of Control occurs and your employment is subsequently
terminated during the term of this Agreement under the circumstances described
in Section 3 (other than for Cause) which entitle you to benefits under this
Agreement, then:

               (a) The Company will continue to provide medical and dental
          insurance coverage to you and your dependents which is comparable in
          benefits and in participant contributions, deductibles, co-payments
          and other terms, to the coverage which you had (i) immediately prior
          to the Change of Control or (ii) as

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     of the Date of Termination, whichever is better in your sole discretion,
     and this coverage will continue until such time as you become eligible to
     join a comparable plan sponsored by another employer, or attain age 65 and
     are eligible to enroll in the Medicare program.

          (b)  After you attain age 65, the Company will provide retiree medical
     coverage for you and your dependents which is comparable in benefits and in
     participant contributions, deductibles, co-payments and other terms to the
     coverage provided by the Company's retiree medical plan in effect (i)
     immediately prior to the Change of Control or (ii) as of the Date of
     Termination, whichever is better in your sole discretion (with a
     coordination of benefits clause comparable to the clause used in connection
     with the relevant retiree medical plan).

          (c)  The Company shall pay to you the following amounts in one
     lump-sum payment in cash within 30 days of the Date of Termination:

               (i)   your full base salary through the Date of Termination, at
          the rate in effect at the time Notice of Termination is given, plus an
          amount in cash equal to the value of any vacation earned but not taken
          (based upon such rate of base salary);

               (ii)  to the extent not paid, your full prior-year short-term
          annual incentive compensation (in the amount determined prior to the
          Date of Termination, or if such amount has not been determined as of
          the Date of Termination, an amount not less than the higher of (x)
          your actual short-term annual incentive compensation amount for the
          year before such prior-year or (y) your target short-term annual
          incentive compensation amount for such prior-year);

               (iii) your short-term annual incentive compensation for the year
          in which the Date of Termination occurs, as if the performance goals
          applicable to such amount have been fully satisfied (i.e., achieved at
          100% of target, or, if higher and determinable, achieved at the actual
          level); provided that such compensation will be prorated to reflect
          the number of days that have elapsed as of the Date of Termination
          since the beginning of such year; plus

               (iv)  a termination payment equal to the sum of:

                         (A) the product of "3" times a "Base Amount" consisting
                     of the sum of (I) your annualized base salary as of the
                     Date of Termination and (II) the greater of (x) your target
                     short-term annual incentive compensation amount for the
                     year in which the Date of Termination occurs or (y) your
                     average short-term annual incentive compensation amount
                     during the 3 years preceding the Date of Termination (it
                     being understood that in the case of the most recent year
                     preceding the Date of Termination, such amount may, if
                     applicable, be the amount to which you have become

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                     entitled under Section 5(c)(ii) in respect of such year);
                     provided that Base Amount shall exclude any compensation
                     under long-term incentive compensation plans, performance
                     share plans, stock option plans or executive continuity
                     awards; plus

                         (B)  in the event it shall be determined that any
                     compensation by or benefit from the Company to you or for
                     your benefit, whether pursuant to the terms of this
                     Agreement or otherwise (collectively, the "Payment"), would
                     be subject to the excise tax imposed by Section 4999 of the
                     Internal Revenue Code of 1986, as amended (the "Code"), or
                     any similar provision or any interest or penalties with
                     respect to such excise tax (such excise tax, together with
                     any such interest and penalties, are hereinafter
                     collectively referred to as the "Excise Tax"), an
                     additional lump-sum payment (a "Gross-Up Payment") in an
                     amount determined by the Company's outside auditors such
                     that after payment by you of all taxes (including any
                     interest or penalties imposed with respect to such taxes),
                     including any Excise Tax, imposed upon the Gross-Up
                     Payment, you retain an amount of the Gross-Up Payment equal
                     to the Excise Tax imposed upon the Payment; provided,
                     however, that if the aggregate value of the Payment is less
                     than 115% of the product of "3" times your "base amount"
                     (as defined in Section 280G(b)(3) of the Code) (such
                     product, the "Golden Parachute Threshold"), then you shall
                     not be entitled to any Gross-Up Payment and, instead, the
                     Payment shall be reduced to an amount equal to $1.00 less
                     than the Golden Parachute Threshold;

provided that such lump-sum payment under this Section 5(c) shall be deposited
in a "rabbi trust" upon the execution of any merger, stock purchase, asset
purchase or similar agreement that, upon the consummation of the transactions
contemplated thereunder, would result in a Change of Control.

          (d)  You shall be entitled to receive the highest, as determined by
     the Company's outside auditors, of:

               (i)   your benefits pursuant to the SERP, as if there had been a
          Change of Control;

               (ii)  your benefits pursuant to the SERP, as if there had not
          been a Change of Control and as if you were credited with 3 years of
          additional age and 3 years of additional service; or

               (iii) your benefits pursuant to the Retirement Plan of
          International Paper Company in effect immediately prior to the Change
          of Control, as if you were credited with 3 years of additional age and
          3 years of additional service.

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     You shall be entitled to receive the benefits under this Section 5(d) as a
lump-sum payment within 30 days of the Date of Termination and you shall not be
required to receive any consent or other approval from the Company to receive
such benefits.

            (e) You shall be entitled to receive executive financial counseling
     services valued up to $20,000 in aggregate.

     You shall not be required to mitigate the amount of any payment provided
for in this Section 5 (by seeking other employment or otherwise), nor shall the
amount of any payment provided for in this Section 5 be reduced by any
compensation earned by you as a result of employment by another employer after
the Date of Termination.

     The compensation set forth above shall be in lieu of any severance or
termination payments which might otherwise be payable under any other severance
programs or policy or practice of the Company, other than those set out as part
of any of the Company's long-term incentive plans, performance share plans,
stock option plans, executive continuity awards and retirement or supplemental
retirement plans.

     In addition to the payments under this Agreement, you shall continue to be
eligible to receive all of your vested accrued benefits under employee pension
and welfare benefit plans sponsored by the Company.

     6.   SUCCESSORS; BINDING AGREEMENT

          (a)  Successor Companies. The Company will require any successor
               -------------------
     (whether direct or indirect, by purchase, merger, consolidation or
     otherwise) to all or substantially all of the business and/or assets of the
     Company, by agreement in form and substance satisfactory to you, expressly
     to assume and agree to perform this Agreement in the same manner and to the
     same extent that the Company would be required to perform it if no such
     succession had taken place. Failure by the Company to obtain such agreement
     prior to the effectiveness of any such succession shall be a breach of this
     Agreement and shall entitle you to terminate your employment and to receive
     compensation from the Company in the same amount and on the same terms as
     you would be entitled hereunder if you terminated your employment for Good
     Reason, except that the date on which any such succession becomes effective
     shall be deemed the Date of Termination. As used in this Agreement,
     "Company" shall mean the Company hereinbefore defined and any successor to
     its business and/or assets as aforesaid which executes and delivers the
     agreement provided for in this Section 6 or which otherwise becomes bound
     by all terms and provisions of this Agreement by operation of law.

          (b)  Heirs; Representatives. This Agreement shall inure to the benefit
               ----------------------
     of and be enforceable by your personal or legal representatives, executors,
     administrators, successors, heirs, distributees, devisees and legatees. If
     you should die while any amounts would still be payable to you hereunder if
     you had continued to live, all such amounts, unless otherwise provided
     herein, shall be paid in accordance with the terms of this Agreement to
     your devisee, legatee or other designee, or, if there be no such designee,
     to your estate.

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     7.   NOTICE

     For the purposes of this Agreement, notices and all other communications
provided for in the Agreement shall be in writing and shall be deemed to have
been duly given when delivered or mailed by United States certified mail, return
receipt requested, postage prepaid, addressed to the respective addresses set
forth on the first page of this Agreement; provided that all notices to the
Company shall be directed to the attention of the Senior Vice President Human
Resources of the Company with a copy to the Secretary of the Company, or to such
address as either party may have furnished to the other in writing in accordance
herewith, except that notices of change of address shall be effective only upon
receipt.

     8.   MISCELLANEOUS

     This Agreement constitutes the entire agreement on this subject matter
between the parties and supersedes any prior oral or written agreements or
understandings on the subject matter covered by this Agreement and shall not be
amended or modified except by written agreement signed by both parties. No
significant provisions of this Agreement may be waived or discharged, unless
such waiver or discharge is in writing signed by the party who is making the
waiver or discharge. No waiver by either party hereto at any time of any breach
by the other party hereto of, or compliance with, any condition or provision of
this Agreement to be performed by such other party shall be deemed a waiver of
any similar or dissimilar provisions or conditions at the same or at any prior
or subsequent time. In the event that this Agreement provides benefits upon
termination of your employment which duplicate benefits contained in any
employment arrangement with you, such arrangement shall automatically be amended
in accordance with this Agreement so that your benefits under this Agreement
shall be sole and exclusive to the extent to which they are duplicative. The
validity, interpretation, construction and performance of this Agreement shall
be governed by the laws of the State of New York.

     9.   VALIDITY

     The invalidity or unenforceability of any provisions of this Agreement
shall not affect the validity or enforceability of any other provisions of this
Agreement, which shall remain in full force and effect.

     10.  ARBITRATION; LEGAL EXPENSES

     Any dispute or controversy arising under or in connection with this
Agreement shall be settled exclusively by arbitration in New York, New York, in
accordance with the rules of the American Arbitration Association then in
effect. Notwithstanding the pendency of any such dispute or controversy, the
Company will continue to pay you your base salary in effect when the notice
giving rise to the dispute was given, and will continue you as a participant in
all compensation, benefit and insurance plans in which you were participating
when the notice giving rise to the dispute was given, until the dispute is
finally resolved.

     The Company shall also pay all legal fees and expenses incurred by you as a
result of such termination (including all such fees and expenses, if any,
incurred in contesting or disputing any such termination or in seeking to obtain
or enforce any right or benefit provided by this Agreement), except such fees
and expenses incurred in

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connection with any frivolous claim or suit. All amounts paid under this Section
10 are in addition to any other amounts due under this Agreement and shall not
be offset against or reduce any other amounts due under this Agreement.

     Judgment may be entered on the arbitrator's award in any court having
jurisdiction; provided, however, that you shall be entitled to seek specific
performance of your right to be paid until the Date of Termination during the
pendency of any dispute or controversy arising under or in connection with this
Agreement.

     11.  RELEASE.

     You will be required to execute and deliver a valid and irrevocable release
of employment-related claims in the form provided by the Company in order to
receive any of your compensation or benefits pursuant to the terms of this
Agreement.

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     If this, letter correctly sets forth our agreement on the subject matter
hereof, kindly sign and return to the Company the enclosed copy of this letter
which will then constitute our agreement on this subject.

                                            Sincerely,

                                            INTERNATIONAL PAPER COMPANY

                                            By:_________________________________
                                               J. N. Carter
                                               SVP, Human Resources

Agreed:

________________________________________
((First_Name))((Last_Name))
((TITLE))

Social Security Number: ________________<PAGE>
                                                                 Exhibit 10.8(C)

INTERNATIONAL PAPER

Mr./Ms. [Full Name]
International Paper Company
President & Chief Executive Officer
400 Atlantic Street
Stamford, CT 06921

Dear [First Name]:

         International Paper Company (the "Company") considers the establishment
and maintenance of a sound and vital management to be essential to protecting
and enhancing the best interests of the Company and its shareholders. In this
connection, the Company recognizes that, as is the case with many publicly held
corporations, the possibility of a change of control may exist and that such
possibility, and the uncertainty and questions which it may raise among senior
management, may result in the departure or distraction of senior management
personnel to the detriment of the Company and its shareholders. Accordingly, the
Company's Board of Directors has determined that appropriate steps should be
taken to reinforce and encourage the continued attention and dedication of
members of the Company's senior management, including yourself, to their
assigned duties without distraction in the face of the potentially disturbing
circumstances arising from the possibility of a change of control of the
Company.

         In order to induce you to remain in the employ of the Company, and to
continue to exercise your special skills and knowledge at the Company, this
letter agreement (this "Agreement") sets forth the benefits which the Company
agrees will be provided to you in the event your employment with the Company is
terminated subsequent to a Change of Control (as defined in Section 2) under the
circumstances described below.

         1.       TERM

         This Agreement shall commence on the date hereof and, unless there is a
Change of Control, shall continue until the earliest of (a) your termination of
employment as a "full-time employee" of the Company, (b) the date when you
attain the age of 65 years or (c) the date when this Agreement is terminated by
the Company in accordance with the next sentence. If a Change of Control has not

<PAGE>

occurred, then the Company shall have the right at any time to terminate this
Agreement by giving you 6 months prior written notice of termination of this
Agreement.

         If a Change of Control occurs at any time prior to the termination of
this Agreement pursuant to the preceding paragraph, then this Agreement shall
terminate on the first anniversary of such Change of Control.

         2.       CHANGE OF CONTROL

          (a) For purposes of this Agreement, a "Change of Control" shall be
     deemed to have occurred if:

               (i) any "person" (as such term is used in Section 13(d) of the
          Securities Exchange Act of 1934, as amended, other than employee
          benefit plans sponsored by the Company) is or becomes the beneficial
          owner, directly or indirectly, of securities of the Company
          representing 20% or more of the combined voting power of the Company's
          then outstanding securities;

               (ii) during any period of 2 consecutive years, individuals who at
          the beginning of such period constitute the Board of Directors of the
          Company (the "Board") cease for any reason to constitute at least a
          majority thereof, unless the election, or the nomination for election,
          by the Company's shareholders of each new director was approved by a
          vote of at least two-thirds (2/3) of the directors then still in
          office who were directors at the beginning of the period;

               (iii) a reorganization, merger or consolidation of the Company is
          consummated, in each case, unless, immediately following such
          reorganization, merger or consolidation, (x) more than 50% of the then
          outstanding shares of common stock of the corporation resulting from
          such reorganization, merger or consolidation and the combined voting
          power of the then outstanding securities of such corporation entitled
          to vote generally in the election of directors is then beneficially
          owned, directly or indirectly, by all or substantially all of the
          persons who were the beneficial owners of the Company's securities
          outstanding immediately prior to such reorganization, merger or
          consolidation, (y) no person (other than employee benefit plans
          sponsored by the Company) beneficially owns, directly or indirectly,
          20% or more of the then outstanding shares of common stock of the
          corporation resulting from such reorganization, merger or
          consolidation or the combined voting power of the then outstanding
          securities of such corporation entitled to vote generally in the
          election of directors and (z) at least a majority of the members of
          the board of directors

                                        2

<PAGE>

          of the corporation resulting from such reorganization, merger or
          consolidation were members of the Board at the time of the execution
          of the initial agreement providing for such reorganization, merger or
          consolidation;

               (iv) the sale or other disposition of all or substantially all of
          the assets of the Company is consummated, other than to any
          corporation with respect to which, immediately following such sale or
          other disposition, (x) more than 50% of the then outstanding shares of
          common stock of such corporation and the combined voting power of the
          then outstanding securities of such corporation entitled to vote
          generally in the election of directors is then beneficially owned,
          directly or indirectly, by all or substantially all of the persons who
          were the beneficial owners of the Company's securities outstanding
          immediately prior to such sale or other disposition, (y) no person
          (other than employee benefit plans sponsored by the Company)
          beneficially owns, directly or indirectly, 20% or more of the then
          outstanding shares of common stock of such corporation or the combined
          voting power of the then outstanding securities of such corporation
          entitled to vote generally in the election of directors and (z) at
          least a majority of the members of the board of directors of such
          corporation were members of the Board at the time of the execution of
          the initial agreement or action of the Board providing for such sale
          or other disposition; or

               (v) the shareholders of the Company approve a complete
          liquidation or dissolution of the Company;

provided that a "Change of Control", as it affects any award specified in the
International Paper Company Long-Term Incentive Compensation Plan in effect
immediately prior to a Change of Control ("the LTICP"), shall have the meaning
for a "Change of Control of the Company" set forth in such plan and, as it
affects any benefits pursuant to the International Paper Company Unfunded
Supplemental Retirement Plan for Senior Managers in effect immediately prior to
a Change of Control (the "SERP"), shall have the meaning for a "Change of
Control" set forth in the SERP.

          (b) Provided that you remain in the employment of the Company as of
     the date immediately preceding a Change of Control, then upon the
     occurrence of such Change of Control:

               (i) each stock option to purchase shares of the common stock of
          the Company (or such other securities of the Company that may be
          substituted for such stock of the Company) granted to you by the
          Company under any plan, arrangement or agreement before or after the
          date hereof (but prior to the Change of Control),

                                        3

<PAGE>

          including the LTICP, and then held by you shall become fully (100%)
          vested and exercisable;

               (ii) any and all forfeiture provisions, transfer restrictions and
          any other restrictions applicable to each award of restricted stock of
          the Company (or such other securities of the Company that may be
          substituted for such stock of the Company) granted to you by the
          Company under any plan, arrangement or agreement before or after the
          date hereof (but prior to the Change of Control), including the LTICP,
          and then held by you shall immediately lapse in their entirety;

               (iii) the performance goals applicable to any performance-based
          awards granted to you by the Company under any plan, arrangement or
          agreement (other than any short-term annual incentive plan) before or
          after the date hereof (but prior to the Change of Control), including
          the LTICP, and then held by you will be deemed to have been fully
          satisfied (i.e., achieved at 100% of target, or, if higher and
          determinable, achieved at the actual level) and all forfeiture
          provisions, transfer restrictions and any other restrictions
          applicable to any such performance-based awards shall immediately
          lapse in their entirety and all such awards shall be fully and
          immediately payable; and

               (iv) each executive continuity award and each other long-term
          award granted to you by the Company under any plan, arrangement or
          agreement before or after the date hereof (but prior to the Change of
          Control), including the LTICP, and then held by you shall become fully
          (100%) vested and, if applicable, exercisable.

         3.       TERMINATION OF EMPLOYMENT FOLLOWING CHANGE IN CONTROL

         If a Change of Control occurs, you shall be entitled to the benefits
provided in Section 5 upon the subsequent termination of your employment during
the term of this Agreement, unless such termination is (x) because of your
death, Disability (as defined below) or Retirement (as defined below), (y) by
the Company for Cause (as defined below) or (z) by you, other than for Good
Reason (as defined below).

          (a) Disability; Retirement. If, as a result of your incapacity due to
              ----------------------
     physical or mental illness, you shall have been absent from the full-time
     performance of your duties with the Company for 6 consecutive months, and
     within 30 days after written notice of termination is given you shall not
     have returned to the full-time performance of your duties, the Company may
     terminate your employment for "Disability". Termination

                                        4

<PAGE>

     based on "Retirement" shall mean voluntary termination after your becoming
     eligible for "normal retirement" under the Company's pension plan in effect
     immediately prior to a Change of Control.

          (b) Cause. Termination by the Company of your employment for "Cause"
              -----
     shall mean termination upon:

               (i) the willful and continued failure by you substantially to
          perform your duties with the Company (other than any such failure
          resulting from your incapacity due to physical or mental illness or
          any such actual or anticipated failure resulting from termination by
          you for Good Reason) after a written demand for substantial
          performance is delivered to you by the Board, which demand
          specifically identifies the manner in which the Board believes that
          you have not substantially performed your duties; or

               (ii) the willful engaging by you in conduct which is demonstrably
          and materially injurious to the Company, monetarily or otherwise.

         For purposes of this Section 3(b), no act, or failure to act, on your
part shall be deemed "willful" unless done, or omitted to be done, by you not in
good faith and without reasonable belief that your action or omission was in the
best interest of the Company.

         Notwithstanding the foregoing, you shall not be deemed to have been
terminated for Cause unless and until there shall have been delivered to you a
copy of a resolution duly adopted by the affirmative vote of not less than
three-quarters (3/4) of the entire membership of the Board at a meeting of the
Board called and held for such purpose (after reasonable notice to you and an
opportunity for you, together with your counsel, to be heard before the Board),
finding that in the good faith opinion of the Board you were guilty of conduct
set forth above in Sections 3(b)(i) or 3(b)(ii), and specifying the particulars
thereof in detail.

          (c) Good Reason. You shall be entitled to terminate your employment
              -----------
     for Good Reason. For purposes of this Agreement, "Good Reason" shall mean,
     without your express written consent, any of the following:

               (i) the assignment to you of any duties with the Company (or with
          a successor or affiliated company) inconsistent with your status as an
          executive, or a substantial adverse alteration in the nature or status
          of your responsibilities, from those in effect immediately prior to a
          Change of Control;

                                        5

<PAGE>

               (ii) a reduction in your annual base salary as in effect on the
          date hereof or as the same may be increased from time to time (except
          for across-the-board salary reductions similarly affecting all
          executives of the Company and all executives of any person in control
          of the Company);

               (iii) the failure by the Company to continue in effect any
          material compensation plan in which you participate (including but not
          limited to the Company's performance share plan, stock option plan and
          management incentive plan, each as in effect immediately prior to a
          Change of Control) or any substitute plans adopted prior to the Change
          of Control, unless an equitable arrangement (embodied in an ongoing
          substitute or alternative plan) has been made with respect to such
          plan in connection with the Change of Control, or the failure by the
          Company to continue your participation therein on substantially the
          same basis, both in terms of the amount of benefits provided and the
          level of your participation relative to other participants, as existed
          immediately prior to the Change of Control;

               (iv) except for across-the-board reductions similarly affecting
          all executives of the Company and all executives of any person in
          control of the Company: (A) the failure by the Company to continue to
          provide you with benefits substantially similar to those enjoyed by
          you under any of the Company's pension, life insurance, medical,
          health and accident or disability plans in which you were
          participating at the time of a Change of Control, (B) the taking of
          any action by the Company which would directly or indirectly
          materially reduce any of such benefits or deprive you of any material
          fringe benefit enjoyed by you at the time of the Change of Control or
          (C) the failure by the Company to provide you with the number of paid
          vacation days to which you are entitled on the basis of years of
          service with the Company in accordance with the Company's normal
          vacation policy in effect immediately prior to the Change of Control;

               (v) the failure of the Company to obtain a satisfactory agreement
          from any successor to assume and agree to perform this Agreement;

               (vi) any purported termination of your employment which is not
          effected pursuant to a Notice of Termination satisfying the
          requirements of Section 3(d) (and, if applicable, the requirements of
          Section 3(b)); for purposes of this Agreement, no such purported
          termination shall be an effective termination by the Company; or

                                        6

<PAGE>

               (vii) the Company's requiring you to be based anywhere other than
          the Company's current principal executive offices, except for required
          travel on the Company's business to an extent substantially consistent
          with your present business travel obligations.

         Your right to terminate your employment pursuant to this Section 3(c)
shall not be affected by your incapacity due to physical or mental illness.

          (d) Notice of Termination. Any termination of your employment by the
     Company or by you shall be communicated by written Notice of Termination to
     the other party hereto in accordance with Section 7. For purposes of this
     Agreement, a "Notice of Termination" shall mean a notice which shall
     indicate the specific termination provision in this Agreement relied upon
     and shall set forth in reasonable detail the facts and circumstances
     claimed to provide a basis for termination of your employment under the
     provision so indicated, and shall specify a date for termination of
     employment ("Date of Termination") which shall not be less than 30 days or
     more than 60 days after the date of delivery of the Notice of Termination.

     4.       DEATH, DISABILITY OR ELIGIBILITY FOR NORMAL RETIREMENT

         This Agreement shall not be applicable in the event of termination of
your employment because of your death, Disability or Retirement.

     5.       COMPENSATION UPON TERMINATION

         If a Change of Control occurs and your employment is subsequently
terminated during the term of this Agreement under the circumstances described
in Section 3 (other than for Cause) which entitle you to benefits under this
Agreement, then:

          (a) The Company will continue to provide medical, dental and life
     insurance coverage to you and your dependents which is comparable in
     benefits to the coverage which you had (i) immediately prior to the Change
     of Control or (ii) as of the Date of Termination, whichever is better in
     your sole discretion, and such coverage will continue for 24 months
     following such Date of Termination.

          (b) After the cessation of benefits pursuant to Section 5(a), the
     Company will provide retiree medical coverage and life insurance for you
     and your dependents which is comparable in benefits and in participant
     contributions, deductibles, co-payments and other terms to the coverage and
     insurance provided by the Company's retiree medical and life insurance
     plans in effect (i) immediately prior to the Change of Control or

                                        7

<PAGE>

     (ii) as of the Date of Termination, whichever is better in your sole
     discretion (with a coordination of benefits clause comparable to the clause
     used in connection with the relevant retiree medical plan); provided that
     such coverage and insurance will be provided as if you were credited with
     an aggregate 6 years of additional age or additional service (such
     crediting of age or service being permitted in any combination of your
     election, including 6 years of additional age only or 6 years of additional
     service only).

          (c) The Company shall pay to you the following amounts in one lump-sum
     payment in cash within 30 days of the Date of Termination:

               (i) your full base salary through the Date of Termination, at the
          rate in effect at the time Notice of Termination is given, plus an
          amount in cash equal to the value of any vacation earned but not taken
          (based upon such rate of base salary);

               (ii) to the extent not paid, your full prior-year short-term
          annual incentive compensation (in the amount determined prior to the
          Date of Termination, or if such amount has not been determined as of
          the Date of Termination, an amount not less than the higher of (x)
          your actual short-term annual incentive compensation amount for the
          year before such prior-year or (y) your target short-term annual
          incentive compensation amount for such prior-year);

               (iii) your short-term annual incentive compensation for the year
          in which the Date of Termination occurs, as if the performance goals
          applicable to such amount have been fully satisfied (i.e., achieved at
          100% of target, or, if higher and determinable, achieved at the actual
          level); provided that such compensation will be prorated to reflect
          the number of days that have elapsed as of the Date of Termination
          since the beginning of such year; plus

               (iv) a termination payment equal to the sum of:

                    (A) the product of "2" times a "Base Amount" consisting of
               the sum of (I) your annualized base salary as of the Date of
               Termination and (II) the greater of (x) your target short-term
               annual incentive compensation amount for the year in which the
               Date of Termination occurs or (y) your average short-term annual
               incentive compensation amount during the 3 years preceding the
               Date of Termination (it being understood that in the case of the
               most recent year

                                        8

<PAGE>

               preceding the Date of Termination, such amount may, if
               applicable, be the amount to which you have become entitled under
               Section 5(c)(ii) in respect of such year); provided that Base
               Amount shall exclude any compensation under long-term incentive
               compensation plans, performance share plans, stock option plans
               or executive continuity awards; plus

                    (B) in the event it shall be determined that any
               compensation by or benefit from the Company to you or for your
               benefit, whether pursuant to the terms of this Agreement or
               otherwise (collectively, the "Payment"), would be subject to the
               excise tax imposed by Section 4999 of the Internal Revenue Code
               of 1986, as amended (the "Code"), or any similar provision or any
               interest or penalties with respect to such excise tax (such
               excise tax, together with any such interest and penalties, are
               hereinafter collectively referred to as the "Excise Tax"), an
               additional lump-sum payment (a "Gross-Up Payment") in an amount
               determined by the Company's outside auditors such that after
               payment by you of all taxes (including any interest or penalties
               imposed with respect to such taxes), including any Excise Tax,
               imposed upon the Gross-Up Payment, you retain an amount of the
               Gross-Up Payment equal to the Excise Tax imposed upon the
               Payment; provided, however, that if the aggregate value of the
               Payment is less than 115% of the product of "3" times your "base
               amount" (as defined in Section 280G(b)(3) of the Code) (such
               product, the "Golden Parachute Threshold"), then you shall not be
               entitled to any Gross-Up Payment and, instead, the Payment shall
               be reduced to an amount equal to $1.00 less than the Golden
               Parachute Threshold;

provided that such lump-sum payment under this Section 5(c) shall be deposited
in a "rabbi trust" upon the execution of any merger, stock purchase, asset
purchase or similar agreement that, upon the consummation of the transactions
contemplated thereunder, would result in a Change of Control.

          (d) You shall be entitled to receive the highest, as determined by the
     Company's outside auditors, of:

                                        9

<PAGE>

              (i) your benefits pursuant to the SERP, as if there had been a
         Change of Control;

              (ii) your benefits pursuant to the SERP, as if there had not been
         a Change of Control and as if you were credited with 3 years of
         additional age and 3 years of additional service; or

              (iii) your benefits pursuant to the Retirement Plan of
         International Paper Company in effect immediately prior to the Change
         of Control, as if you were credited with 3 years of additional age and
         3 years of additional service.

         You shall be entitled to receive the benefits under this Section 5(d)
as a lump-sum payment within 30 days of the Date of Termination and you shall
not be required to receive any consent or other approval from the Company to
receive such benefits.

              (e) You shall be entitled to receive executive financial
         counseling services valued up to $10,000 in aggregate.

         You shall not be required to mitigate the amount of any payment
provided for in this Section 5 (by seeking other employment or otherwise), nor
shall the amount of any payment provided for in this Section 5 be reduced by any
compensation earned by you as a result of employment by another employer after
the Date of Termination.

         The compensation set forth above shall be in lieu of any severance or
termination payments which might otherwise be payable under any other severance
programs or policy or practice of the Company, other than those set out as part
of any of the Company's long-term incentive plans, performance share plans,
stock option plans, executive continuity awards and retirement or supplemental
retirement plans.

         In addition to the payments under this Agreement, you shall continue to
be eligible to receive all of your vested accrued benefits under employee
pension and welfare benefit plans sponsored by the Company.

         6.       SUCCESSORS; BINDING AGREEMENT

              (a) Successor Companies. The Company will require any successor
         (whether direct or indirect, by purchase, merger, consolidation or
         otherwise) to all or substantially all of the business and/or assets
         of the Company, by agreement in form and substance satisfactory to
         you, expressly to assume and agree to perform this Agreement in the
         same manner and to the same extent that the Company would be required
         to perform it if no such succession had taken place. Failure by the
         Company to obtain such agreement prior to the effectiveness of any
         such succession

                                       10

<PAGE>

         shall be a breach of this Agreement and shall entitle you to terminate
         your employment and to receive compensation from the Company in the
         same amount and on the same terms as you would be entitled hereunder
         if you terminated your employment for Good Reason, except that the
         date on which any such succession becomes effective shall be deemed
         the Date of Termination. As used in this Agreement, "Company" shall
         mean the Company hereinbefore defined and any successor to its
         business and/or assets as aforesaid which executes and delivers the
         agreement provided for in this Section Error! Reference source not
         found. or which otherwise becomes bound by all terms and provisions of
         this Agreement by operation of law.

              (b) Heirs; Representatives. This Agreement shall inure to the
         benefit of and be enforceable by your personal or legal
         representatives, executors, administrators, successors, heirs,
         distributees, devisees and legatees. If you should die while any
         amounts would still be payable to you hereunder if you had continued
         to live, all such amounts, unless otherwise provided herein, shall be
         paid in accordance with the terms of this Agreement to your devisee,
         legatee or other designee, or, if there be no such designee, to your
         estate.

         7.       NOTICE

         For the purposes of this Agreement, notices and all other
communications provided for in the Agreement shall be in writing and shall be
deemed to have been duly given when delivered or mailed by United States
certified mail, return receipt requested, postage prepaid, addressed to the
respective addresses set forth on the first page of this Agreement; provided
that all notices to the Company shall be directed to the attention of the Senior
Vice President Human Resources of the Company with a copy to the Secretary of
the Company, or to such address as either party may have furnished to the other
in writing in accordance herewith, except that notices of change of address
shall be effective only upon receipt.

         8.       MISCELLANEOUS

         This Agreement constitutes the entire agreement on this subject matter
between the parties and supersedes any prior oral or written agreements or
understandings on the subject matter covered by this Agreement and shall not be
amended or modified except by written agreement signed by both parties. No
significant provisions of this Agreement may be waived or discharged, unless
such waiver or discharge is in writing signed by the party who is making the
waiver or discharge. No waiver by either party hereto at any time of any breach
by the other party hereto of, or compliance with, any condition or provision of
this Agreement to be performed by such other party shall be deemed a waiver of
any similar or dissimilar provisions or conditions at the same or at any prior
or subsequent time. In the event that this Agreement provides benefits upon
termination of your employment which duplicate benefits contained in any
employment arrangement with you, such arrangement shall automatically be

                                       11

<PAGE>

amended in accordance with this Agreement so that your benefits under this
Agreement shall be sole and exclusive to the extent to which they are
duplicative. The validity, interpretation, construction and performance of this
Agreement shall be governed by the laws of the State of New York.

         9.       VALIDITY

         The invalidity or unenforceability of any provisions of this Agreement
shall not affect the validity or enforceability of any other provisions of this
Agreement, which shall remain in full force and effect.

         10.      ARBITRATION; LEGAL EXPENSES

         Any dispute or controversy arising under or in connection with this
Agreement shall be settled exclusively by arbitration in New York, New York, in
accordance with the rules of the American Arbitration Association then in
effect. Notwithstanding the pendency of any such dispute or controversy, the
Company will continue to pay you your base salary in effect when the notice
giving rise to the dispute was given, and will continue you as a participant in
all compensation, benefit and insurance plans in which you were participating
when the notice giving rise to the dispute was given, until the dispute is
finally resolved.

         The Company shall also pay all legal fees and expenses incurred
by you as a result of such termination (including all such fees and expenses, if
any, incurred in contesting or disputing any such termination or in seeking to
obtain or enforce any right or benefit provided by this Agreement), except such
fees and expenses incurred in connection with any frivolous claim or suit. All
amounts paid under this Section 10 are in addition to any other amounts due
under this Agreement and shall not be offset against or reduce any other amounts
due under this Agreement.

         Judgment may be entered on the arbitrator's award in any court having
jurisdiction; provided, however, that you shall be entitled to seek specific
performance of your right to be paid until the Date of Termination during the
pendency of any dispute or controversy arising under or in connection with this
Agreement.

         11.      RELEASE.

         You will be required to execute and deliver a valid and irrevocable
release of employment-related claims in the form provided by the Company in
order to receive any of your compensation or benefits pursuant to the terms of
this Agreement.

                                       12

<PAGE>

         If this, letter correctly sets forth our agreement on the subject
matter hereof, kindly sign and return to the Company the enclosed copy of this
letter which will then constitute our agreement on this subject.

                                            INTERNATIONAL PAPER COMPANY

                                            By:
                                               -------------------------------

Agreed:

----------------------------------------

Social Security Number:
                         ---------------------------------

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