Document:

Subsidiary Guaranty

 
EXHIBIT
10.29(ii) 
 
SUBSIDIARY GUARANTY

(Senior Capital Markets Bridge Facility) 
 
THIS SUBSIDIARY GUARANTY (the “Guaranty”), dated as of August 16, 2002, is made by the
following entities (collectively, the “Guarantors” and, individually, a “Guarantor”): 
 
BRUNSWICK BUILDING PRODUCTS, INC., a Georgia corporation; 
BRUNSWICK P&P, LLC, a Georgia limited liability company; 
BRUNSWICK PULP & PAPER COMPANY, a Delaware corporation; 
CONTAINERBOARD, LLC, a Georgia limited liability company; 
CP&P, INC., a Georgia corporation; 
FORT JAMES CORPORATION, a Virginia corporation; 
FORT JAMES OPERATING COMPANY, a Virginia corporation; 
GEORGIA-PACIFIC RESINS, INC., a Delaware corporation; 
GEORGIA-PACIFIC WEST, INC., an Oregon corporation; 
G-P GYPSUM CORPORATION, a Delaware corporation; 
G-P PULP, LLC, a Georgia limited liability company; 
G-P RESINS, LLC, a Georgia limited liability company; 
G-P WEST, LLC, a Georgia limited liability company; 
GREAT NORTHERN NEKOOSA CORPORATION, a Maine corporation; 
HEADQUARTERS COMPANY, LLC, a Georgia limited liability company; 
LEAF BUILDING PRODUCTS, INC., a Georgia corporation; 
LEAF RIVER FOREST PRODUCTS, INC., a Delaware corporation; 
LEAF RIVER, LLC, a Georgia limited liability company; 
NEKOOSA PACKAGING CORPORATION, a Delaware corporation; 
NEKOOSA PAPERS INC., a Wisconsin corporation; 
PACIFIC PAPER, LLC, a Georgia limited liability company; 
RESINS PAPER COMPANY, INC., a Georgia corporation; 
UNISOURCE WORLDWIDE, INC., a Delaware corporation; and 
WEST PAPER COMPANY, INC., a Georgia corporation, 
 
in favor of BANK OF AMERICA, N.A., as administrative agent (in such capacity, the “Administrative Agent”)
for each of the Lenders (as defined below). 
 
RECITALS: 
 
A. Pursuant to
the Credit Agreement (Senior Capital Markets Bridge Facility), dated as of August 16, 2002 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Georgia-Pacific Corporation, a Georgia
corporation (“Georgia-Pacific”) as borrower, the Lenders party thereto (individually, a “Lender” and, collectively, the “Lenders”), and the Administrative Agent, the Lenders have extended
commitments (the “Commitments”) to make loans (the “Loans”) to Georgia-Pacific, which Loans are to be unconditionally guaranteed by each 

 
Principal Subsidiary of
Georgia-Pacific (which Principal Subsidiaries are the Guarantors hereunder). 
 
B. As a condition precedent to the Loans under the Credit Agreement, each Guarantor is required to execute and deliver this Guaranty. 
 
C. Each Guarantor has duly authorized the execution, delivery, and performance of this Guaranty.

 
D. It is in the best interests of each Guarantor
to execute this Guaranty inasmuch as such Guarantor will derive substantial direct and indirect benefits from the Loans made to Georgia-Pacific by the Lenders under the Credit Agreement. 
 
NOW THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, and in order
to induce the Lenders to make Loans to Georgia-Pacific pursuant to the Credit Agreement, each Guarantor agrees, for the benefit of each Lender, as follows: 
 
ARTICLE 1 
DEFINITIONS 
 
Unless
otherwise defined herein or the context otherwise requires, terms used in this Guaranty, including its preamble and recitals, have the meanings provided in the Credit Agreement. 
 
ARTICLE 2 
GUARANTY PROVISIONS 
 
2.1 Guaranty. Each Guarantor, jointly and severally, hereby absolutely, unconditionally, and irrevocably: 
 
(a) guarantees the full and punctual payment when due, whether at stated maturity, by required prepayment,
declaration, acceleration, demand, or otherwise, of all Obligations of Georgia-Pacific and each other Loan Party (other than such Guarantor) now or hereafter existing under the Credit Agreement and each other Loan Document to which it is or may
become a party, whether for principal, interest, fees, expenses, or otherwise (including all such amounts which would become due but for the operation of the automatic stay under Section 362(a) of the United States Bankruptcy Code, 11 U.S.C.
362(a)), and the operation of Sections 502(b) and 506(b) of the United States Bankruptcy Code, 11 U.S.C. 502(b) and 506(b)); and 
 
(b) indemnifies and holds harmless and agrees to reimburse the Administrative Agent and each Lender for any and all out-of-pocket costs
and expenses (including the out-of-pocket expenses and reasonable fees of counsel and the allocated cost of in-house counsel retained by the Administrative Agent or such Lender) incurred by the Administrative Agent or such Lender in preserving and
enforcing any rights under this Guaranty; 
 

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provided,
however, that each Guarantor shall be liable under this Guaranty for the maximum amount of such liability that can be hereby incurred without rendering this Guaranty, as it relates to such Guarantor, voidable under applicable law relating to
fraudulent obligations, fraudulent conveyance, or fraudulent transfer, and not for any greater amount. This Guaranty constitutes a guaranty of payment when due and not merely of collection nor of performance, and each Guarantor specifically agrees
that it shall not be necessary or required that the Administrative Agent or any Lender exercise any right, assert any claim or demand, or enforce any remedy whatsoever against Georgia-Pacific, any other Loan Party, or any other Person before or as a
condition to the obligations of each Guarantor hereunder. 
 
2.2 Acceleration of Guaranty. Subject to the proviso of Section 2.1, each Guarantor agrees that, in the event of the occurrence and continuance of an Event of Default including, without limitation, pursuant to
Section 9.01(f)(ii) or 9.01(g) of the Credit Agreement, and the acceleration of the Obligations in accordance with the terms of the Credit Agreement, each Guarantor will pay to the Administrative Agent and the Lenders forthwith the
full amount of the Obligations. 
 
2.3 Guaranty
Absolute, etc. This Guaranty shall in all respects be a continuing, absolute, unconditional, and irrevocable guaranty of payment, and shall remain in full force and effect until all Obligations of Georgia-Pacific and each other Loan Party have
been paid in cash in full, and all Commitments shall have terminated. Each Guarantor guarantees that the Obligations of Georgia-Pacific and each other Loan Party will be paid strictly in accordance with the terms of the Credit Agreement and each
other Loan Document under which they arise, regardless of any law, regulation, or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of the Administrative Agent or any Lender with respect thereto. The
liability of each Guarantor under this Guaranty shall be absolute, unconditional, and irrevocable irrespective of: 
 
(a) any lack of validity, legality, or enforceability of the Credit Agreement or any other Loan Document; 
 
(b) the failure of the Administrative Agent or any Lender:

 
(i) to assert any claim or
demand or to enforce any right or remedy against Georgia-Pacific, any other Loan Party, or any other Person (including any other guarantor) under the provisions of the Credit Agreement, any other Loan Document, or otherwise; or 
 
(ii) to exercise any right or remedy against
any other guarantor of, or any collateral securing, any Obligations of Georgia-Pacific or any other Loan Party; 
 
(c) any change in the time, manner, or place of payment of, or in any other term of, all or any of the Obligations of Georgia-Pacific or
any other Loan Party, or any other 
 

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extension, compromise, or renewal of any Obligations of Georgia-Pacific or any other Loan Party;

 
(d) any reduction, limitation, impairment, or
termination of the Obligations of Georgia-Pacific or any other Loan Party for any reason, including any claim of waiver, release, surrender, alteration, or compromise, and shall not be subject to (and each Guarantor hereby waives any right to or
claim of) any defense or setoff, counterclaim, recoupment, or termination whatsoever by reason of the invalidity, illegality, nongenuineness, irregularity, compromise, unenforceability of, or any other event or occurrence affecting, the Obligations
of Georgia-Pacific or any other Loan Party or otherwise; 
 
(e) any amendment to, rescission, waiver, or other modification of, or any consent to departure from, any of the terms of the Credit Agreement or any other Loan Document; 
 
(f) any addition, exchange, release, surrender, or non-perfection of any collateral, or any amendment to or
waiver or release or addition of, or consent to departure from, any other guaranty, held by the Administrative Agent or any Lender securing any of the Obligations of Georgia-Pacific or any other Loan Party; or 
 
(g) any other circumstance which might otherwise constitute a
defense available to, or a legal or equitable discharge of, Georgia-Pacific, any other Loan Party, any surety, or any guarantor. 
 
2.4 Reinstatement, etc. Each Guarantor agrees that this Guaranty shall continue to be effective or be reinstated, as the case may
be, if at any time any payment (in whole or in part) of any of the Obligations is rescinded or must otherwise be restored by the Administrative Agent or any Lender, upon the insolvency, bankruptcy, or reorganization of Georgia-Pacific, any other
Loan Party, or otherwise, all as though such payment had not been made. 
 
2.5 Waiver, etc. Each Guarantor hereby waives promptness, diligence, notice of acceptance, and any other notice with respect to any of the Obligations of Georgia-Pacific or any other Loan Party and this Guaranty and
any requirement that the Administrative Agent or any Lender protect, secure, perfect, or insure any security interest or lien, or any property subject thereto, or exhaust any right or take any action against Georgia-Pacific, any other Loan Party, or
any other Person (including any other guarantor) or any collateral securing the Obligations of Georgia-Pacific or any other Loan Party, as the case may be. 
 
2.6 Subordination. Until such time as the Obligations have been paid and performed in full and the period of time has expired
during which any payment made by Georgia-Pacific, a Guarantor, or any other guarantor of the Obligations to Administrative Agent may be subsequently invalidated, declared to be fraudulent or preferential, set aside, or required to be repaid by
Administrative Agent or paid over to a trustee, receiver, or any other entity, whether under any bankruptcy act or otherwise (any such payment 
 

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being hereinafter referred to as a “Preferential Payment”), any claim or other rights
which any Guarantor may now have or hereafter acquire against Georgia-Pacific or such other guarantor that arises from the existence or performance of any Guarantor’s obligations under this Guaranty or any other agreement (all such claims and
rights being hereinafter referred to as “Guarantor’s Conditional Rights”), including, without limitation, any right of subrogation, reimbursement, exoneration, contribution, or indemnification, any right to participate in any
claim or remedy of Administrative Agent or such other guarantor or any collateral which Administrative Agent now has or hereafter acquires, whether or not such claim, remedy or right arises in equity or under contract, statute, or common law, by any
payment made hereunder or otherwise, including, without limitation, the right to take or receive from Georgia-Pacific or such other guarantor, directly or indirectly, in cash or other property or by setoff or in any other manner, payment, or
security on account of such claim or other rights, shall be subordinate to Administrative Agent’s right to full payment and performance of the Obligations, and each Guarantor shall not enforce Guarantor’s Conditional Rights until such time
as the Obligations have been paid and performed in full and the period of time has expired during which any payment made by Georgia-Pacific or a Guarantor to Administrative Agent may be determined to be a Preferential Payment. 
 
2.7 Successors, Transferees and Assigns; Transfers of
Loans, etc. This Guaranty shall: 
 
(a) be
binding upon each Guarantor, and its successors, transferees, and assigns; and 
 
(b) inure to the benefit of and be enforceable by the Administrative Agent and each Lender. 
 
Without limiting the generality of subsection (b), any Lender may assign or otherwise transfer (in whole or in part) any Loan held by it to any other
Person, and such other Person shall thereupon become vested with all rights and benefits in respect thereof granted to such Lender under any Loan Document (including this Guaranty) or otherwise, subject, however, to any contrary provisions in such
assignment or transfer, and to the provisions of Section 11.07 and Article X of the Credit Agreement. 
 
2.8 Payments Free and Clear of Taxes, etc. Each Guarantor hereby agrees that: 
 
(a) Subject to paragraph (f) below, any and all
payments made by each Guarantor hereunder to or for the account of the Administrative Agent or any Lender shall be made in accordance with Section 3.04 of the Credit Agreement free and clear of and without deduction for any and all present or
future taxes, duties, levies, imposts, deductions, assessments, fees, withholdings or similar charges, and all liabilities with respect thereto, excluding, in the case of the Administrative Agent and each Lender, taxes imposed on or measured
by its overall net income, and franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction (or any political subdivision thereof) under the Laws of which the Administrative Agent or such Lender, as the case may be, is

 

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organized or maintains a
lending office (all such non-excluded taxes, duties, levies, imposts, deductions, assessments, fees, withholdings or similar charges, and liabilities being hereinafter referred to as “Taxes”). If any Guarantor shall be required by
law to deduct or withhold any Taxes from or in respect of any sum payable hereunder to the Administrative Agent or any Lender: 
 
(i) the sum payable shall be increased as may be necessary so that after making all required deductions (including
deductions applicable to additional sums payable under this Section 2.8) the Administrative Agent or such Lender receives an amount equal to the sum it would have received had no such deductions been made; 
 
(ii) such Guarantor shall make such
deductions; and 
 
(iii) such
Guarantor shall pay the full amount deducted to the relevant taxation authority or other governmental authority in accordance with applicable law. 
 
(b) Each Guarantor shall pay any present or future stamp or documentary taxes or any other sales, excise, or property taxes, charges, or
similar levies which arise from any payment made hereunder or from the execution, delivery, performance, enforcement or registration of, or otherwise with respect to, this Guaranty (hereinafter referred to as “Other Taxes”).

 
(c) If any Guarantor shall be required to deduct
or pay any Taxes or Other Taxes from or in respect of any sum payable hereunder to the Administrative Agent or any Lender, such Guarantor shall also pay to the Administrative Agent or to such Lender, as the case may be, at the time interest is paid,
such additional amount that the Administrative Agent or such Lender specifies is necessary to preserve the after-tax yield (after factoring in all taxes, including taxes imposed on or measured by net income) that the Administrative Agent or such
Lender would have received if such Taxes or Other Taxes had not been imposed. 
 
(d) Subject to subsection (f) below, each Guarantor, jointly and severally, hereby indemnifies and holds harmless the Administrative Agent and each Lender for (i) the full amount of Taxes or
Other Taxes (including any Taxes or Other Taxes imposed by any jurisdiction on amounts payable under this Section 2.8) paid by the Administrative Agent or such Lender, (ii) the amounts payable under paragraph c of this Section
2.8 and (iii) any liability (including penalties, interest and expenses) arising therefrom or with respect thereto, whether or not such Taxes or Other Taxes were correctly or legally asserted; provided, however, that the
Administrative Agent and each Lender agree to contest in good faith any Taxes or Other Taxes that the Administrative Agent or such Lender, in its sole discretion, believes have been incorrectly asserted. A certificate as to the amount demanded by
the Administrative Agent or any Lender, or the Administrative Agent on behalf of any Lender, absent manifest error, shall be binding and conclusive. 
 

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(e) Within 30
days after the date of any payment of Taxes or Other Taxes, each Guarantor shall furnish to the Administrative Agent the original or a certified copy of a receipt evidencing payment thereof or other evidence of payment reasonably satisfactory to the
Administrative Agent. 
 
(f) Each Lender shall,
promptly upon the request of any Guarantor to that effect, deliver to the Administrative Agent and such Guarantor such accurate and complete forms or similar documentation as may be required from time to time by any applicable law, treaty, rule or
regulation in order to establish (if appropriate) such Lender’s tax status for withholding purposes or may otherwise be appropriate to eliminate or minimize any Taxes on payments under this Guaranty. The provisions of Sections 3.04(g), (h),
(i), and (j) of the Credit Agreement are hereby incorporated by reference into this Guaranty as if fully stated herein, except that each reference to the “Company” contained therein shall be deemed to be a reference to
the “Guarantors” for purposes of this Guaranty. 
 
(g) Without prejudice to the survival of any other agreement of each Guarantor hereunder, the agreements and obligations of each Guarantor contained in this Section 2.8 shall survive the payment in full of the principal of and
interest on the Loans. 
 
ARTICLE 3

REPRESENTATIONS AND WARRANTIES 
 
3.1 Representations and Warranties. 
 
As of the date hereof (in the case of Guarantors initially executing this Guaranty) and as of the date of
execution and delivery of a Supplement hereto (in the case of Guarantors becoming a party hereto hereafter), each Guarantor hereby makes each of the representations and warranties made by Georgia-Pacific in the Credit Agreement, to the extent that
any such representation or warranty made by Georgia-Pacific in the Credit Agreement shall be applicable to such Guarantor, its Subsidiaries or any of its or their properties (each such representation and warranty set forth therein (insofar as
applicable as aforesaid) and all capitalized terms of the Credit Agreement to which reference is made therein, together with all related definitions related to such capitalized terms, being hereby incorporated into this Guaranty by reference as
though specifically set forth in this Section in full). 
 
ARTICLE 4 
COVENANTS, ETC. 
 
4.1 Affirmative Covenants. Each Guarantor covenants and agrees that, so long as any portion of the
Obligations shall remain unpaid or any Lender shall have any outstanding Commitment, such Guarantor will, unless the Required Lenders shall otherwise consent in writing, duly keep, perform, and observe for the benefit of the Administrative Agent and
the Lenders each and every covenant set forth in Article VII of the Credit Agreement to the extent that any such covenant shall be applicable to such Guarantor, any of its Subsidiaries, or any of its or their properties (all of which
covenants, 
 

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together with related
definitions and ancillary provisions, are hereby incorporated herein by reference as if such terms were set forth herein in full), without regard to any termination of the Credit Agreement. 
 
4.2 Negative Covenants. Each Guarantor covenants and
agrees that, so long as any portion of the Obligations shall remain unpaid or any Lender shall have any outstanding Commitment, such Guarantor will, unless the Required Lenders shall otherwise consent in writing, duly keep, perform, and observe for
the benefit of the Administrative Agent and the Lenders each and every covenant set forth in Article VIII of the Credit Agreement to the extent that any such covenant shall be applicable to such Guarantor, any of its Subsidiaries, or any of
its or their properties (all of which covenants, together with related definitions and ancillary provisions, are hereby incorporated herein by reference as if such terms were set forth herein in full), without regard to any termination of the Credit
Agreement. 
 
ARTICLE 5 
MISCELLANEOUS PROVISIONS 
 
5.1 Loan Document. This Guaranty is a Loan Document executed pursuant to the Credit Agreement and shall (unless otherwise expressly
indicated herein) be construed, administered and applied in accordance with the terms and provisions thereof, including, without limitation, Article XI of the Credit Agreement. 
 
5.2 Binding on Successors, Transferees and Assigns; Assignment. In addition to, and not in limitation
of, Section 2.7, this Guaranty shall be binding upon each Guarantor and its successors, transferees, and assigns and shall inure to the benefit of and be enforceable by the Administrative Agent, each Lender, and their respective successors,
transferees, and assigns (to the full extent provided pursuant to Section 2.7); provided, however, that no Guarantor may assign any of its obligations hereunder. 
 
5.3 Amendment, etc. No amendment to or waiver of any provision of this Guaranty, nor consent to any
departure by any Guarantor herefrom, shall in any event be effective unless the same shall be in writing and signed by the Guarantors, the Administrative Agent and consented to by the Required Lenders (or, as provided in Section 11.01 of the
Credit Agreement, all Lenders), and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. 
 
5.4 Addresses for Notices to each Guarantor. All notices and other communications hereunder to any Guarantor shall be in writing
(including by facsimile) and mailed by overnight delivery, transmitted by facsimile, or delivered to it, addressed to it at the address set forth below its signature hereto or at such other address as shall be designated by such Guarantor in a
written notice to the Administrative Agent at the address specified in the Credit Agreement complying as to delivery with the terms of this Section 5.4. All such notices and other communications shall be effective, if transmitted by facsimile
when transmitted or, if mailed by overnight delivery or delivered, upon delivery, addressed as aforesaid 
 

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5.5 No
Waiver; Remedies. In addition to, and not in limitation of, Sections 2.3 and 2.5, no failure on the part of the Administrative Agent or any Lender to exercise, and no delay in exercising, any right hereunder shall operate as a
waiver thereof; nor shall any single or partial exercise of any right hereunder preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided are cumulative and not exclusive of any remedies provided
by law. 
 
5.6 Section Captions. Section
captions used in this Guaranty are for convenience of reference only, and shall not affect the construction of this Guaranty. 
 
5.7 Setoff. In addition to, and not limitation of, any rights of the Administrative Agent or any Lender under applicable law, the
Administrative Agent and each Lender shall, upon the occurrence and during the continuance of any Event of Default, have the right to appropriate and apply to the payment of the obligations of each Guarantor owing to it hereunder, whether or not
then due, any and all balances, credits, deposits, accounts or moneys of such Guarantor then or thereafter maintained with the Administrative Agent or such Lender; provided, however, that any such appropriation and application shall be
subject to the provisions of Section 3.05 of the Credit Agreement. Each Lender agrees promptly to notify the relevant Guarantor after any such setoff and application made by such party; provided, however, that the failure to
give such notice shall not affect the validity of such setoff and application. The rights of the Administrative Agent and each Lender under this Section 5.7 are in addition to any other right or remedy (including any other right of set off)
which the Administrative Agent or such Lender may have. 
 
5.8 Severability. Wherever possible each provision of this Guaranty shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Guaranty shall be prohibited by or invalid
under such law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Guaranty. 
 
5.9 Governing Law; Jurisdiction. 
 
(a) THIS GUARANTY SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK. 
 
(b) ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS GUARANTY MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK CITY, NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF SUCH STATE, AND BY
EXECUTION AND DELIVERY OF THIS GUARANTY, EACH GUARANTOR HEREBY CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH GUARANTOR IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE
LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR 
 

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PROCEEDING IN SUCH
JURISDICTION IN RESPECT OF THIS GUARANTY, ANY OTHER LOAN DOCUMENT OR OTHER DOCUMENT RELATED HERETO OR THERETO. EACH GUARANTOR WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS, WHICH MAY BE MADE BY ANY OTHER MEANS PERMITTED BY THE
LAW OF SUCH STATE. 
 
5.10 Integration. THIS
GUARANTY AND THE OTHER LOAN DOCUMENTS CONSTITUTE THE ENTIRE AGREEMENT AND UNDERSTANDING AMONG THE PARTIES TO THE LOAN DOCUMENTS WITH RESPECT TO THE SUBJECT MATTER THEREOF AND SUPERSEDE ALL PRIOR AGREEMENTS, WRITTEN OR ORAL, WITH RESPECT THERETO,
INCLUDING THE COMMITMENT LETTER (EXCEPT AS EXPRESSLY SET FORTH THEREIN), EXCEPT FOR THE FEE LETTER AND ANY PRIOR ARRANGEMENT MADE WITH RESPECT TO THE PAYMENT BY ANY LENDER OF (OR ANY INDEMNIFICATION FOR) ANY FEES, COSTS OR EXPENSES PAYABLE TO OR
INCURRED (OR TO BE INCURRED) BY OR ON BEHALF OF THE ADMINISTRATIVE AGENT OR ANY LENDER. 
 
5.11 Waiver of Jury Trial. EACH GUARANTOR HEREBY KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVES ANY RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY PROCEEDING, CLAIM OR LITIGATION
BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS GUARANTY. EACH GUARANTOR ACKNOWLEDGES AND AGREES THAT IT HAS RECEIVED FULL AND SUFFICIENT CONSIDERATION FOR THIS PROVISION AND THAT THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE
LENDERS ENTERING INTO THE CREDIT AGREEMENT. 
 
[Signature pages follow] 
 
 

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IN WITNESS
WHEREOF, each Guarantor has caused this Guaranty to be duly executed and delivered by their respective officers thereunto duly authorized as of the date first above written. 
 

	  BRUNSWICK P&P, LLC
  BRUNSWICK PULP & PAPER COMPANY
  CONTAINERBOARD, LLC
 
CP&P, INC
  FORT JAMES CORPORATION
  FORT JAMES OPERATING COMPANY
  GEORGIA-PACIFIC RESINS, INC.
  GEORGIA-PACIFIC WEST, INC.
  G-P GYPSUM CORPORATION
  G-P PULP, LLC
  G-P RESINS, LLC
  G-P WEST, LLC
  GREAT NORTHERN NEKOOSA CORPORATION
  HEADQUARTERS COMPANY, LLC
  LEAF RIVER FOREST PRODUCTS, INC.
  LEAF RIVER, LLC
  NEKOOSA PACKAGING CORPORATION
  NEKOOSA PAPERS INC.
  PACIFIC PAPER,
LLC
  RESINS PAPER COMPANY, INC.
  UNISOURCE WORLDWIDE, INC.
  WEST PAPER COMPANY, INC.
   
  For each of the foregoing corporations and/or companies:

	
	  By:
	  	

	  Name:
  Title:

	  	  	  
	  Address: c/o Georgia Pacific Corporation
  133 Peachtree Street, N.E.
 
Atlanta, Georgia 30348-5605
  Attn.: Treasurer’s
Office
  Facsimile: 404-230-5598

 

	  BRUNSWICK BUILDING PRODUCTS, INC.
  LEAF BUILDING PRODUCTS, INC.
   
  For each of the foregoing corporations and/or companies

	
	  By:
	  	

	  Name:
  Title:

	  	  	  
	  Address: c/o Georgia Pacific Corporation
  133 Peachtree Street, N.E.
 
Atlanta, Georgia 30348-5605
  Attn.: Treasurer’s
Office
  Facsimile: 404-230-5598GP Non-Qualified Employee Stock Option Plan November 1, 2002

 
EXHIBIT
10.32(iii) 
 
GEORGIA-PACIFIC CORPORATION

 
NON-QUALIFIED EMPLOYEE STOCK PURCHASE PLAN

 
As Amended and Restated November 1, 2002

 
formerly known as 
 
GEORGIA-PACIFIC CORPORATION 
 
GEORGIA-PACIFIC TISSUE 
 
2000 EMPLOYEE STOCK PURCHASE PLAN 
 
 

GEORGIA-PACIFIC CORPORATION 
NON-QUALIFIED EMPLOYEE STOCK PURCHASE PLAN 
 
TABLE OF CONTENTS 
 

	  Section

	   	  	   	  Page

	  §1.
	   	  Background and Purpose
	   	  1

	  §2.
	   	  Definitions
	   	  1

	  	   	  2.1.
	   	  Account
	   	  1

	  	   	  2.2.
	   	  Authorization
	   	  1

	  	   	  2.3.
	   	  Board
	   	  1

	  	   	  2.4.
	   	  Code
	   	  1

	  	   	  2.5.
	   	  Eligible Employee
	   	  1

	  	   	  2.6.
	   	  Exercise Date
	   	  2

	  	   	  2.7.
	   	  Fair Market Value
	   	  2

	  	   	  2.8.
	   	  Georgia-Pacific
	   	  2

	  	   	  2.9.
	   	  Offering Period
	   	  2

	  	   	  2.10.
	   	  Officer
	   	  2

	  	   	  2.11.
	   	  Option Price
	   	  2

	  	   	  2.12.
	   	  Participant
	   	  2

	  	   	  2.13.
	   	  Participating Company
	   	  2

	  	   	  2.14.
	   	  Plan
	   	  3

	  	   	  2.15.
	   	  Plan Administrator
	   	  3

	  	   	  2.16.
	   	  Purchase Period
	   	  3

	  	   	  2.17.
	   	  Stock
	   	  3

	  §3.
	   	  Offerings
	   	  3

	  §4.
	   	  Participation
	   	  3

	  §5.
	   	  Granting of Options
	   	  4

	  	   	  (a)
	   	  General Rule
	   	  4

	  	   	  (b)
	   	  Statutory Limitation
	   	  4

	  	   	  (c)
	   	  Available Shares of Stock
	   	  4

	  §6.
	   	  Payroll Deductions
	   	  4

	  	   	  (a)
	   	  Initial Authorization
	   	  4

	  	   	  (b)
	   	  Subsequent Authorization
	   	  5

	  	   	  (c)
	   	  Account Credits, General Assets and Taxes
	   	  6

	  	   	  (d)
	   	  No Cash Payments
	   	  6

	  §7.
	   	  Exercise of Option
	   	  6

	  	   	  (a)
	   	  General Rule
	   	  6

	  	   	  (c)
	   	  Automatic Refund
	   	  6

	  §8.
	   	  Delivery
	   	  6

	  §9.
	   	  Voluntary Account Withdrawal
	   	  7

	  §10.
	   	  Termination of Employment
	   	  7

 
 

i 

	  §11.
	   	  Retirement or Disability
	   	  7

	  §12.
	   	  Death
	   	  8

	  §13.
	   	  Temporary Layoff and Authorized Leave of Absence
	   	  9

	  §14.
	   	  Hardship Withdrawals From 401(k) Plans
	   	  9

	  §15.
	   	  Administration
	   	  9

	  §16.
	   	  Transferability
	   	  10

	  §17.
	   	  Adjustment
	   	  10

	  §18.
	   	  Securities Registration
	   	  10

	  §19.
	   	  Amendment or Termination
	   	  10

	  §20.
	   	  Notices
	   	  11

	  §21.
	   	  Employment
	   	  11

	  §22.
	   	  Headings, References and Construction
	   	  11

	  §23.
	   	  Shareholder Approval
	   	  11

 
 

ii 

GEORGIA-PACIFIC CORPORATION 
NON-QUALIFIED EMPLOYEE STOCK PURCHASE PLAN 
 
§ 1. Background and Purpose 
 
Effective November 1, 2002, this Georgia-Pacific Tissue 2000 Employee Stock Purchase Plan is amended and restated, and renamed the
Georgia-Pacific Corporation Non-Qualified Employee Stock Purchase Plan. 
 
The primary purpose of this Plan is to encourage Stock ownership by each Eligible Employee of a Participating Company by permitting the purchase of Stock on a discounted basis. The Plan is not qualified or intended to
qualify under § 423 of the Code. 
 
§ 2.
Definitions 
 
2.1. Account shall
mean the separate bookkeeping account which shall be established and maintained by the Plan Administrator for each Participant for each Purchase Period to record the payroll deductions made on his or her behalf to purchase Stock under this Plan.

 
2.2. Authorization shall mean the
participation election and payroll deduction authorization form which an Eligible Employee shall be required to properly complete in writing (or in any other form acceptable to the Plan Administrator) and timely file with the Plan Administrator
before the end of an Offering Period in order to participate in this Plan for the related Purchase Period and which shall require an Eligible Employee to provide such information and to take such action as the Plan Administrator in his or her
discretion deems necessary or helpful to the orderly administration of this Plan. 
 
2.3. Board shall mean the Board of Directors of Georgia-Pacific. 
 
2.4. Code shall mean the Internal Revenue Code of 1986, as amended. 
 
2.5. Eligible Employee shall mean each employee of a Participating Company except: 
 
(a) an employee who customarily is employed
(within the meaning of Code § 423(b)(4)(B)) 20 hours or less per week by a Participating Company, 
 
(b) an employee who customarily is employed (within the meaning of Code § 423(b)(4)(C)) for not more than 5 months in
any calendar year by a Participating Company, 
 

1 

(c) an employee who would own (immediately after the grant of an option
under this Plan) stock possessing 5% or more of the total combined voting power or value of all classes of stock of Georgia-Pacific based on the rules set forth in § 423(b)(3) and § 424 of the Code, and 
 
(d) an employee who is an Officer of a
Participating Company. 
 
2.6. Exercise Date
shall mean for each Purchase Period the last day of such Purchase Period. 
 
2.7. Fair Market Value shall mean, as of any date, the mean between the high and low sales prices of a share of Stock on that date as reported in the record of Composite Transactions for New York Stock Exchange listed
securities and printed in The Wall Street Journal or in any successor to The Wall Street Journal or, if there is no such successor, any similar publication selected by the Plan Administrator. If the date of determination is not a
trading date on the New York Stock Exchange, Fair Market Value shall be determined using the high and low sales prices of a share of Stock on the next preceding trading date. The Fair Market Value shall be rounded to the nearest whole cent (with 0.5
cent being rounded to the next higher whole cent). 
 
2.8. Georgia-Pacific shall mean Georgia-Pacific Corporation, a corporation incorporated under the laws of the State of Georgia, and any successor to Georgia-Pacific. 
 
2.9. Offering Period shall mean the period beginning on the date determined by the Plan Administrator
from time to time in his or her sole discretion, which precedes the related Purchase Period and which shall continue for no more than 31 days. 
 
2.10. Officer shall mean an employee who is an Officer of a Participating Company within the meaning of Section 16 of the Exchange
Act and the rules and regulations promulgated thereunder. 
2.11. Option Price shall mean for each Purchase Period the
lesser of (i) 90% of the Fair Market Value for a share of Stock on the first day of such Purchase Period or (ii) 90% of the Fair Market Value for a share of Stock on the last day of such Purchase Period. 
 
2.12. Participant shall mean for each Purchase Period
an Eligible Employee who has satisfied the requirements set forth in § 4 of this Plan for such Purchase Period. 
 
2.13. Participating Company shall for each Participant, mean an entity in which Georgia-Pacific has an interest of not less than
fifty (50%) and which is (1) not incorporated under the laws of any state or country, and (2) listed prior to each Offering 
 

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Period by the Plan Administrator on Appendix A to this Plan, whichever employs such Participant as of such
date. 
 
2.14. Plan shall mean this
Georgia-Pacific Corporation Non-Qualified Employee Stock Purchase Plan (formerly known as the Georgia-Pacific Tissue 2000 Employee Stock Purchase Plan), as amended and restated as of November 1, 2002 and as may be further amended from time to time.

 
2.15. Plan Administrator shall mean the
Executive Vice President – Human Resources of Georgia-Pacific or his or her delegate. 
 
2.16. Purchase Period shall mean the 12-month period beginning on the date determined by the Plan Administrator. 
 
2.17. Stock shall mean Georgia-Pacific Corporation Common Stock. 
 
§ 3. Offerings 
 
Options to purchase shares of Stock shall be offered to
Participants in accordance with this Plan during the Offering Periods, as may be determined by the Plan Administrator from time to time in his or her sole discretion; provided, however, there shall be no more than one Offering Period in effect at
any time and no more than one Purchase Period in effect at any time. There shall be a total of 450,000 shares of Stock available under this Plan. Such shares of Stock shall be available for purchase from Georgia-Pacific upon the exercise of such
options, and any shares of Stock which are subject to options granted as of the first day of a Purchase Period but which are not purchased on the related Exercise Date shall again become available under this Plan. 
 
§ 4. Participation 
 
Each person who is an Eligible Employee on the first day of an
Offering Period shall satisfy the requirements to be a Participant in this Plan for the related Purchase Period if 
 
(a) he or she properly completes and files an Authorization with the Plan Administrator on or before the last day of such
Offering Period to purchase shares of Stock, and 
 
(b) his or her employment as an Eligible Employee continues throughout the period which begins on the first day of such Offering Period and ends on the first day of the related Purchase Period (for this purpose, employment as an
Eligible Employee shall not be treated as interrupted by a transfer directly between one Participating Company and another Participating Company). 
 

-3- 

A Participant’s status as such shall terminate for a Purchase Period (for which he or she has an
effective Authorization) at such time as his or her Account has been withdrawn under § 9, § 10, § 11, § 12 or § 13 or the purchases and distributions contemplated under § 7 with respect to his or her Account have been
completed, whichever comes first. 
 
§ 5.
Granting of Options 
 
(a) General Rule. Subject to subsections (b) and (c) below, each person who is a Participant for a Purchase Period automatically shall be granted an option on the first day of such Purchase Period to purchase at the Option
Price a maximum number of whole shares of Stock determined by dividing $25,000 by the Fair Market Value of a share of Stock on the first day of such Purchase Period. 
 
(b) Statutory Limitation. No option granted under this Plan to any Eligible Employee
shall permit his or her rights to purchase shares of Stock under this Plan or under any other employee stock purchase plan (within the meaning of § 423 of the Code) or any other shares of Stock under any other employee stock purchase plans
(within the meaning of § 423 of the Code) of Georgia-Pacific and any of its subsidiaries (within the meaning of § 424(f) of the Code) to accrue (within the meaning of § 423(b)(8) of the Code) at a rate which exceeds $25,000 of the
Fair Market Value of such Stock for any calendar year. Such Fair Market Value shall be determined as of the first day of the Purchase Period for which the option is granted. 
 
(c) Available Shares of Stock. If the number of shares of Stock available for purchase
for any Purchase Period is insufficient to cover the number of shares which Participants have elected to purchase through effective Authorizations, then each Participant’s option to purchase shares of Stock for such Purchase Period shall be
reduced to the number of shares of Stock which the Plan Administrator shall determine by multiplying the number of shares of Stock for which such Participant would have been granted an option if sufficient shares were available by a fraction, the
numerator of which shall be the number of shares of Stock available for options for such Purchase Period and the denominator of which shall be the total number of shares of Stock for which options would have been granted to all Participants if
sufficient shares were available. 
 
§ 6. Payroll
Deductions 
 
(a)
Initial Authorization. Each Participant’s Authorization shall specify the specific dollar amount which he or she authorizes the Participating Company to deduct from his or her compensation each pay period (determined in 
 

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accordance with the Participating Company’s standard payroll policies and practices)
during the Purchase Period for which such Authorization is in effect, provided 
 

	  	 (1)	  	 the minimum amount deducted from a Participant’s compensation during each pay period in a Purchase Period shall not be less than $600 divided by the number of
pay periods in the Purchase Period; and 

 

	  	 (2)	  	 the maximum amount deducted from a Participant’s compensation during each pay period shall not be more than the lesser of (i) $22,500 (90% of the $25,000
maximum) divided by the number of pay periods in the Purchase Period, (ii) such lower amount which is set by the Plan Administrator before the beginning of a Purchase Period, or (iii) such Participant’s net pay after all other withholdings.

 
(b) Subsequent
Authorization. A Participant shall have the right to make one amendment to an Authorization after the end of an Offering Period to stop the payroll deductions which he or she previously had authorized for the related Purchase Period, and such
amendment shall be effective with the next possible payroll period (determined in accordance with the Participating Company’s payroll practices and policies regarding cut-off dates for payroll changes) after the Plan Administrator actually
receives such amended Authorization. 
 

-5- 

(c) Account Credits, General Assets and Taxes. All payroll
deductions made for a Participant shall be credited to his or her Account as of the pay day as of which the deduction is made. All payroll deductions shall be held by the Participating Company or by the Participating Company’s agent (as
determined by the Plan Administrator) as part of the general assets of the Participating Company, and each Participant’s right to the payroll deductions credited to his or her Account shall be those of a general and unsecured creditor. The
Participating Company or the Participating Company’s agent shall have the right to withhold on payroll deductions to the extent such person deems necessary or appropriate to satisfy applicable tax laws. 
 
(d) No Cash Payments. Except as
provided for in § 11 and § 12, a Participant (or beneficiary) may not make any contribution to his or her Account except through payroll deductions made in accordance with this § 6. 
 
§ 7. Exercise of Option 
 
(a) General Rule. Unless a Participant
files an amended Authorization under § 9 on or before the Exercise Date for a Purchase Period, his or her option shall be exercised automatically on such Exercise Date for the purchase of as many whole shares of Stock subject to such option as
the balance credited to his or her Account as of that date will purchase at the Option Price for such shares of Stock, provided that he or she is an Eligible Employee on such Exercise Date. 
 
(b) Automatic Refund. If a
Participant’s Account has a remaining balance after his or her option has been exercised as of an Exercise Date under this § 7, such balance automatically shall be refunded to the Participant in cash (without interest) as soon as
practicable following such Exercise Date. 
 
§ 8.
Delivery 
 
The shares of Stock
purchased upon the exercise of an option under this Plan shall be held in a book entry account for the Participant by a broker-dealer designated by the Plan Administrator or, at the Participant’s direction and expense, a stock certificate
representing all such shares of Stock shall be delivered to the Participant (or any person who makes a claim through a Participant) and shall be registered in his or her name; provided, however, neither the Participating Company nor Georgia-Pacific
shall have any obligation to deliver a certificate to a Participant which represents a fractional share of Stock. No Participant (or any person who makes a claim through a Participant) shall have any interest in any shares of Stock subject to an
option until such option has been exercised and the related shares of Stock actually have been delivered to such person or have been transferred to an account for such person at a broker-dealer designated by the Plan Administrator. The Plan
Administrator shall have 
 

-6- 

the discretion to satisfy Georgia-Pacific’s obligations hereunder with newly issued shares or shares
previously issued and outstanding that have been repurchased by Georgia-Pacific. 
 
§ 9. Voluntary Account Withdrawal 
 
A Participant may elect to withdraw the entire balance credited to his or her Account for a Purchase Period by completing and filing an amended Authorization with the Plan Administrator before the
Exercise Date for such period. If a Participant makes such a withdrawal election, no further payroll deductions shall be made on his or her behalf and such balance shall be paid to him or her in cash (without interest) at the next possible payroll
period (determined in accordance with the Participating Company’s payroll practices and policies regarding cut-off dates for payroll changes). 
 
§ 10. Termination of Employment 
 
(a) Except as otherwise provided in § 10(b) below, if a Participant’s employment as an Eligible Employee terminates on or before
the Exercise Date for a Purchase Period for any reason whatsoever, his or her Account shall (subject to § 11 and § 12) be distributed as if he or she had elected to withdraw his or her Account in cash under § 9 immediately before the
date his or her employment had so terminated. However, if a Participant is transferred directly between one Participating Company and another Participating Company while he or she has an Authorization in effect, his or her employment shall not be
treated as terminated merely by reason of such transfer and any such Authorization shall (subject to all the terms and conditions of this Plan) remain in effect after such transfer for the remainder of the Purchase Period. 
 
(b) Notwithstanding § 10(a), if a Participant terminates
employment as an Eligible Employee within 90 days prior to the Exercise Date for a Purchase Period, and the Plan Administrator determines in his or her sole discretion that such termination is the result of a divestiture, closure or similar
corporate reorganization with respect to all or a part of the assets or business of the Participating Company, subject to § 9, such Participant’s option shall be exercised automatically on the Exercise Date for the purchase of as many
whole shares of Stock subject to such option as the balance credited to the Participant’s Account as of the date of termination will purchase at the Option Price for such shares of Stock 
 
§ 11. Retirement or Disability 
 
If a Participant retires or becomes disabled within three
months before the Exercise Date for a Purchase Period, he or she may elect prior to such Exercise Date to (i) make a cash lump sum payment to his or her Account in an amount equal to the unpaid balance under his or her Authorization as then in
effect for such Purchase Period, (ii) purchase at the end of the Purchase Period the number of whole shares of Stock as the balance credited to the Participant’s Account as of that date will purchase 
 

-7- 

at the Option Price for such shares of Stock, or (iii) withdraw the entire balance credited to his or her
Account for such Purchase Period in accordance with § 9. In the event a Participant elects to make a cash lump sum payment to his or her Account, his or her option shall be exercised automatically on the Exercise Date for such Purchase Period
for the purchase of as many whole shares of Stock as the balance credited to his or her Account as of that date will purchase at the Option Price for such shares of Stock as if he or she is an Eligible Employee on such Exercise Date. In the event a
Participant fails to make a timely election under this § 11, his or her Account shall be distributed as if he or she had elected to withdraw the entire balance credited to his or her Account in cash under § 9 immediately before the date he
or she retired. 
 
For purposes of this § 11,
“retire” or “retirement” shall mean a Participant’s voluntary or involuntary termination with the Participating Company and all of its affiliates (within the meaning of Code § 1563(a), except that for such affiliate
determination, the phrase “at least 50%” shall be substituted for “at least 80%” in Code § § 1563(a)(1) and (a)(2)(A)) at a time when he or she has attained at least age 65 or attained at least age 55 and accrued 5
years of service for vesting purposes under the employer-sponsored qualified benefit plans covering him or her, provided that termination for “cause” as determined by the Participating Company shall not be considered retirement under this
Plan. 
 
For purposes of this § 11, a
Participant’s date of “disability” shall be the last day of his or her short-term medical leave period under the Participating Company’s policy providing paid medical leave for salaried employees who are medically unable to work
because of injury or illness (or the last day of a period determined as if the Participant were a salaried employee entitled to such short-term medical leave), and a Participant shall be deemed “disabled” at such time only if the
Participant would be “totally disabled” pursuant to the standards set forth in the Georgia-Pacific Corporation Salaried Long-Term Disability Plan whether or not he or she is covered under that plan. 
 
§ 12. Death 
 
If a Participant’s employment terminates due to his or
her death before the Exercise Date for a Purchase Period, his or her beneficiary may elect before the Exercise Date to (i) make a cash lump sum payment to the Participant’s Account in an amount equal to the unpaid balance under the
Participant’s Authorization as then in effect for such Purchase Period, (ii) purchase at the end of the Purchase Period the number of whole shares of Stock as the balance credited to the Participant’s Account as of that date will purchase
at the Option Price for such shares of Stock, or (iii) withdraw the entire balance credited to the Participant’s Account for such Purchase Period in accordance with § 9. In the event a Participant’s beneficiary elects to make a cash
lump sum payment to the Participant’s Account, the Participant’s option shall be exercised automatically on the Exercise Date for such Purchase Period for the purchase of as many whole shares of Stock as the balance credited to his or her
Account as of that date will purchase at the Option Price for such shares of Stock as if the Participant 
 

-8- 

is an Eligible Employee on such Exercise Date. In the event a beneficiary fails to make a timely election
under this § 12, the Participant’s Account shall be distributed as if the Participant had elected to withdraw his or her Account in cash under § 9 immediately before the date he or she died. 
 
§ 13. Temporary Layoff and Authorized Leave of Absence

 
Any amounts being deducted from a
Participant’s compensation under his or her Authorization for a Purchase Period shall be suspended during a period of temporary layoff or authorized leave of absence without pay. If the Participant returns to active service prior to the last
payroll period in the Purchase Period, his or her payroll deductions shall be commenced or resumed. The Participant’s option shall be exercised automatically on the Exercise Date for such Purchase Period for the purchase of as many whole shares
of Stock as the balance credited to his or her Account as of that date will purchase at the Option Price for such shares of Stock provided he or she is an Eligible Employee on such Exercise Date. 
 
For purposes of this Plan, a Participant on a temporary layoff
or authorized leave of absence shall be deemed to be terminated from his or her employment with the Participating Company if such layoff or leave exceeds a period of 90 consecutive days (unless the Participant’s right to reemployment is
guaranteed either by statute or by contract). At the end of such 90 day period, such Participant shall have his or her Account distributed as if he or she had elected to withdraw his or her Account in cash under § 9 immediately before the date
his or her employment had so terminated. 
 
§ 14.
Hardship Withdrawals From 401(k) Plans 
 
If a Participant receives a hardship withdrawal pursuant to the provisions of a qualified retirement plan subject to Code § 401(k), any amounts being deducted from such Participant’s compensation under his or her
Authorization shall be suspended for a period of six consecutive months following such withdrawal. If such suspension is in effect on the last day of an Offering Period, any Authorization filed by an Eligible Employee during such Offering Period
shall be null and void and of no effect. 
 
§ 15.
Administration 
 
The Plan Administrator
shall be responsible for the administration of this Plan and shall have the power to interpret this Plan and to take such other action as the Plan Administrator deems necessary or equitable under the circumstances. The Plan Administrator also shall
have the power to delegate the duty to perform such administrative functions as the Plan Administrator deems appropriate under the circumstances. Any person to whom the duty to perform an administrative function is delegated shall act on behalf of
the Plan Administrator for such function. Any action or inaction by or on behalf of the Plan Administrator under this Plan shall be final and binding on each Eligible Employee, each Participant and on each other person who 
 

-9- 

makes a claim under this Plan based on the rights, if any, of any such Eligible Employee or Participant
under this Plan. 
 
§ 16. Transferability

 
Neither the balance credited to a
Participant’s Account nor any rights to the exercise of an option or to receive shares of Stock under this Plan may be assigned, encumbered, alienated, transferred, pledged, or otherwise disposed of in any way by a Participant during his or her
lifetime or by any other person during his or her lifetime, and any attempt to do so shall be without effect; provided, however, that the Plan Administrator in its absolute discretion may treat any such action as an election by a Participant to
withdraw the balance credited to his or her Account in accordance with § 9. 
 
§ 17. Adjustment 
 
The number of shares of Stock covered by outstanding options granted pursuant to this Plan and the related Option Price and the number of shares of Stock available under this Plan automatically shall be adjusted by the Plan
Administrator in a manner to fully and fairly reflect any change in the capitalization of Georgia-Pacific, including, but not limited to, such changes as dividends paid in the form of Stock or Stock splits. Furthermore, the Plan Administrator
automatically shall adjust (in a manner which satisfies the requirements of § 424(a) of the Code) the number of shares of Stock available under this Plan and the number of shares of Stock covered by options granted under this Plan and the
related Option Prices in the event of any corporate transaction described in § 424(a) of the Code. An adjustment made under this § 17 by the Plan Administrator shall be conclusive and binding on all affected persons. 
 
§ 18. Securities Registration 
 
If Georgia-Pacific shall deem it necessary to register under
the Securities Act of 1933, as amended, or any other applicable statutes, any shares of Stock with respect to which an option shall have been exercised under this Plan or to qualify any such shares of Stock for an exemption from any such statutes,
Georgia-Pacific shall take such action at its own expense before delivery of any certificate representing such shares of Stock. If shares of Stock are listed on any national stock exchange at the time an option to purchase shares of Stock is
exercised under this Plan, Georgia-Pacific whenever required shall register shares of Stock for which such option is exercised under the Securities Exchange Act of 1934, as amended, and shall make prompt application for the listing on such national
stock exchange of such shares, all at the expense of Georgia-Pacific. 
 
§ 19. Amendment or Termination 
 

-10- 

 
This Plan may
be amended by the Plan Administrator from time to time to the extent that the Plan Administrator deems necessary or appropriate. The Plan Administrator also may terminate this Plan or any offering made under this Plan at any time; provided, however,
the Plan Administrator shall not have the right to modify, cancel, or amend any option outstanding after the beginning of a Purchase Period unless (1) each Participant consents in writing to such modification, amendment or cancellation, (2) such
modification only accelerates the Exercise Date for the related Purchase Period, or (3) the Plan Administrator acting in good faith deems that such action is required under applicable law. 
 
§ 20. Notices 
 
All Authorizations and other communications from a Participant to the Plan Administrator under, or in
connection with, this Plan shall be deemed to have been filed with the Plan Administrator when actually received in the form specified by the Plan Administrator at the location, or by the person, designated by the Plan Administrator for the receipt
of such Authorizations and communications. 
 
§ 21.
Employment 
 
No offer under this Plan
shall constitute an offer of employment, and no acceptance of an offer under this Plan shall constitute an employment agreement. Any such offer or acceptance shall have no bearing whatsoever on the employment relationship between any Eligible
Employee and the Participating Company, Georgia-Pacific or any subsidiary of Georgia-Pacific. Finally, no Eligible Employee shall be induced to participate in this Plan by the expectation of employment or continued employment. 
 
§ 22. Headings, References and Construction

 
The headings to sections in this Plan have
been included for convenience of reference only. Except as otherwise expressly indicated, all references to sections (§) in this Plan shall be to sections (§) of this Plan. This Plan shall be interpreted and construed in accordance with
the laws of the State of Georgia. 
 
§ 23.
Shareholder Approval 
 
The Plan is
subject to the approval by the holders of the majority of the outstanding shares of Stock within 12 months before or after (1) the original date of adoption of the Plan by the Board, and (2) the amendment and restatement of the Plan effective as of
November 1, 2002. The Plan shall be null and void and of no effect if the foregoing conditions are not fulfilled. 
 

-11- 

IN WITNESS WHEREOF, the Plan Administrator has executed this Plan as of this
26th day of November, 2002. 
 

	  /a/ Patricia A. Barnard

	  Patricia A. Barnard

	  Executive Vice-President—Human Resources

 
 

-12- 

APPENDIX A 
 
PARTICIPATING COMPANY 
 
Color-Box, LLC 
 

-13-

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