Document:

EX-10.1

 Exhibit 10.1 
 [Office Depot Letterhead] 
 April 5, 2013 

Neil Austrian 
 Office Depot, Inc. 

6600 Military Trail 
 Boca Raton, Florida 33496

  

	 	Re:	Revisions to Compensation Arrangements 

Dear Neil: 
 Reference is made to (i) your
Change in Control Agreement with Office Depot, Inc. (the “Company”), dated May 23, 2011 (the “CIC Agreement”), (ii) your employment letter agreement with the Company dated May 23, 2011, as amended
(the “Employment Agreement”) and (iii) the Agreement and Plan of Merger by and among the Company, Dogwood Merger Sub Inc., Dogwood Merger Sub LLC, Mapleby Holdings Merger Corporation, Mapleby Merger Corporation and OfficeMax
Incorporated, dated as of February 20, 2013 (the “Merger Agreement”). References herein to this “Letter” mean this letter agreement. 
 In connection with the signing of the Merger Agreement and the Company’s potential need of your assistance during 2013 to assist in connection with the Company’s recruitment of a successor CEO
and related transition and retention issues, the Company has agreed to make certain amendments and clarifications with respect to your CIC Agreement, your Employment Agreement and your 2012 Restricted Stock Award Agreement as set forth below.

 1) Your CIC Agreement is hereby amended to provide for the following: 

a) The occurrence of the “Closing”, as defined in the Merger Agreement, will be deemed to constitute a “Change in
Control” for purposes of your CIC Agreement. 
 b) In the event that you remain employed by the Company through the date of
the Closing, the “Employment Period” as defined in the CIC Agreement will be deemed to continue until the second anniversary of the Closing. 
 c) In the event that (i) your employment with the Company is terminated without “Cause” or you terminate employment with the Company for “Good Reason” (each, as defined in the CIC
Agreement, as modified in Paragraphs 1(d) and 4, below) prior to the Closing and (ii) the Closing subsequently occurs, then the provisions of Section 1(a) of the CIC Agreement shall apply and the “Effective Date” for purposes of
the CIC Agreement shall mean the date immediately prior to the date of your employment termination. 
 d) Without limiting your
rights under the terms of the CIC Agreement to terminate employment for “Good Reason” under other circumstances as defined therein, the Company hereby acknowledges and agrees that if the Company (or successor thereto) appoints a co-Chief

 
Executive Officer, a co-Chairman to serve alongside you or a separate Chairman of the Board of Directors, or appoints any other executive officer not reporting directly to you (other than any
executive officer reporting, on a transitory basis, (x) directly to the Company’s Board of Directors in connection with strategic initiatives or integration efforts relating to the Merger (as defined in the Merger Agreement) or (y) to
the Selection Committee (as defined in the Merger Agreement)), without your express written consent during the Employment Period (as amended under this Letter), such appointment shall constitute a “Good Reason” event so long as you provide
the Company with 3 months’ prior written notice of your intent to terminate for “Good Reason” as a result of such appointment. 

2) Your Employment Agreement is hereby amended to provide for the following: 
 a) Without limiting your rights to terminate your employment for Good Reason, in the event that the Company recommences its search for a successor Chief Executive Officer, you hereby agree to assist the
Company’s Board of Directors in conducting such search and encouraging retention of your direct reports and other key employees of the Company. The occurrence of your termination of employment at any time upon or following the Company’s
appointment of a successor Chief Executive Officer will be deemed a termination by the Company without Cause. 
 b) In
consideration of your agreement to provide assistance as described in Paragraph 2(a) above, the Company hereby agrees that in the event of your involuntary termination without “Cause”, or your termination for “Good Reason” or due
to death or “Disability” (as such terms are defined in your CIC Agreement) prior to June 30, 2014 and prior to the Closing, then to the extent not previously paid, the Company shall (i) continue to pay you your base salary
through June 30, 2014, (ii) pay you a lump sum amount, in cash, equal to the cost at the time of termination of your monthly COBRA premiums through June 30, 2014 for the type of coverage you may have under the Company group health
plan (e.g., family coverage), (iii) pay you your full regular bonus for 2013 (to the extent earned based on actual performance for 2013) on the same basis as if you had remained employed through the end of 2013 and (iv) pay you a pro-rata
bonus for 2014 as reasonably determined in good faith by the Company’s Board of Directors based on the period, if any, during which you were actively employed during 2014 and the Company’s actual quarterly performance through the date of
your termination of employment (any such salary continuation, COBRA payments and bonus payment made after your termination of employment, the “Pre-Closing Termination Payments”). Except for severance payments or benefits that may
become payable under the CIC Agreement, the Pre-Closing Termination Payments shall be in lieu of any severance payment or benefit under any Company severance plan, policy, program or practice (whether written or unwritten). 

c) You acknowledge and agree that in the event you receive the Pre-Closing Termination Payments and you subsequently become entitled to
receive severance payments under the terms of your CIC Agreement, the amounts otherwise payable to you under the CIC Agreement shall be reduced by the aggregate amount of the Pre-Closing Termination Payments in accordance with Section 7 of the
CIC Agreement. 

  
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 3) Your 2012 Restricted Stock Award Agreement with the Company, dated as of May 7, 2012 (the
“2012 Service Award Agreement”), is hereby amended to provide for potential continued service vesting while you continue to serve as a non-employee director on the Company’s Board of Directors in the same manner as your 2012
Restricted Stock Unit and Performance Cash Award Agreement with the Company, dated as of May 7, 2012 (the “2012 Performance Award Agreement”). Accordingly, in the event that the performance awards granted under your 2012
Performance Award Agreement become vested in connection with your “Qualified Resignation” (as defined in the 2012 Performance Award Agreement), then your outstanding restricted shares granted pursuant to the 2012 Service Award Agreement
will also vest in tandem with such performance awards. 
 4) With respect to any termination by you for “Good Reason” prior to the
Closing, in addition to the modifications in Paragraph 1(d) above, the modifications to “Good Reason” as described in the provisos under Section 2(b)(ii) of your 2012 Service Award Agreement shall apply to, and are hereby incorporated
by reference into, this Letter and your 2013 long-term incentive grants and the award agreements pertaining thereto, dated as of the date hereof (“2013 Awards”), with the references in such provisos under your 2012 Service Award
Agreement to your “Restricted Shares” and the date which is deemed to be the Effective Date for purposes of application of such modifications to those 2013 Awards and this Letter to be the date of this Letter. 

5) The Company will pay or reimburse you for your reasonable professional fees incurred to negotiate and prepare this Letter and to represent you with
respect to the CIC Agreement, Employment Agreement and all other agreements applicable to you under the Merger Agreement, up to an aggregate maximum of $25,000. 
 6) It is intended, and this Letter, and the amendments of the CIC Agreement and Employment Agreement herein, will be so construed, that any amounts payable hereunder and the Company’s and your
exercise of authority or discretion hereunder shall either be exempt from or comply with the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), including without limitation any 6-month
delay of payment that may be required under Section 409A(a)(2)(B)(i), so as not to subject you to the payment of interest and/or any tax penalty that may be imposed under Section 409A. 

Except as amended herein, the terms and provisions of your CIC Agreement and Employment Agreement shall continue in full force and effect. 

 

	
	Sincerely,
	
	/s/ Marsha Johnson Evans
	 Marsha Johnson Evans

Director

  

	
	 Accepted and Agreed:

	
	 /s/ Neil Austrian

Neil Austrian

  
 3EX-10.2

 Exhibit 10.2 

 
 

 
 2013 RESTRICTED STOCK AWARD AGREEMENT 
 We are pleased to advise you that the Board of Directors of Office Depot, Inc. (the “Company”) has as of April 5, 2013 (the “Grant Date”) granted you a restricted stock award
pursuant to the Office Depot, Inc. 2007 Long-Term Incentive Plan (the “Plan”). Capitalized terms used but not defined in this 2013 Restricted Stock Award Agreement (the “Agreement”) have the meanings given to them in the Plan.
This award is subject to federal and local law and the requirements of the New York Stock Exchange. 
  

	1.	Restricted Stock 

 You
have been granted 325,000 shares of the Company’s common stock (“Common Stock”) subject to the restrictions contained in the Plan and this Agreement (the “Restricted Shares”). 

 

	2.	Vesting  

  

	 	a.	Normal Vesting—The Restricted Shares will vest on December 31, 2013; provided that, you are continuously employed by the Company or any Subsidiary from
the Grant Date until such vesting date (the “Vesting Period”). 

  

	 	b.	Effect on Vesting of Employment Termination—Notwithstanding paragraph 2(a) above, the following rules will apply if your employment with the Company and its
Subsidiaries terminates before you have vested in the Restricted Shares: 

  

	 	i)	Death or Disability. If you terminate employment with the Company and its Subsidiaries due to death or Disability, the Restricted Shares will vest (to the extent
they have not previously vested) on the date of your employment termination. For this purpose, you will be considered “Disabled” if you have been determined to be eligible to commence benefits under the Company’s long-term disability
program; the effective date of your Disabled status will be the later of the date on which such determination is made or the date as of which you are determined to be eligible to commence such benefits. Your Disabled status must become effective
under the preceding sentence prior to the date on which the Restricted Shares would otherwise be forfeited for failure to vest in order to be recognized under this Agreement. This definition of “Disability” applies in lieu of the
definition set out in the Plan. 

  

	 	ii)	Termination without Cause; Termination for Good Reason. If (x) your employment with the Company and its Subsidiaries is terminated by the Company without Cause or (y)
you terminate your employment for Good Reason, then the Restricted Shares will vest (to the extent they have not previously vested) on the date of such employment termination. As used herein, the term “Cause” shall mean “good
cause”, as defined in your 

  
 6600 North
Military Trail             |        Boca Raton, FL
33496–2434        |             T + 561.438.4800 

 

 
  

 
Employment Agreement with the Company dated May 23, 2011. Additionally, as used herein, the term “Good Reason” shall mean “Good Reason”, as defined in your Change in
Control Agreement with the Company dated May 23, 2011 (the “CIC Agreement”), as modified pursuant to your letter agreement with the Company dated as of the date hereof. 

 

	 	iii)	Termination of Employment. Except as provided otherwise in paragraphs 2(b)(i) or (ii) above due to your termination for death or Disability, without Cause
or for Good Reason, upon any other termination of your employment with the Company and its Subsidiaries you will immediately forfeit all of the Restricted Shares that are not vested on the date of such termination of employment.

  

	 	c.	No Other Special Vesting Rights—The provisions of the Plan with respect to accelerated vesting in the event of Retirement or upon a Change in Control
(Sections 10.5(iii), 10.6 and 10.11 of the Plan) do not apply to the Restricted Shares. However, to the extent your Restricted Shares remain outstanding and unvested following the occurrence of a Change in Control, you shall remain eligible to vest
in such Restricted Shares upon the earlier of the scheduled vesting dates or the occurrence of your termination of employment due to death, Disability, a termination without Cause or a termination for Good Reason, in each case, as set forth above.

  

	3.	Treatment of Restricted Shares During Vesting Period and Registration 

 

	 	a.	Registration of Shares—The Restricted Shares shall be registered on the Company’s books in your name as of the Grant Date. The Company may issue stock
certificates or evidence your interest by using a book entry account. Physical possession or custody of any stock certificates that are issued may be retained by the Company until such time as the Restricted Shares are vested in accordance with
Section 2. The Company reserves the right to place a legend on such stock certificate(s) restricting the transferability of such certificates and referring to the terms and conditions (including forfeiture) of this Agreement and the Plan.

  

	 	b.	Voting—During the Vesting Period, while you are employed by the Company or any Subsidiary, you will have the right to vote the Restricted Shares. If your
Restricted Shares are forfeited at any time during the Vesting Period, you will cease to have any rights with respect to such forfeited shares. 

  

	 	c.	 Dividends—During the Vesting Period, while you are employed by the Company or any Subsidiary, you will have the right to receive any
dividends on your Restricted Shares. If any dividends are paid or other distributions are made on the Restricted Shares during the Vesting Period, such dividends and other distributions shall be paid in the same proportion on the Restricted Shares
to the Company for your account and paid to you, without interest, within 30 days after 

  
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the date on which the corresponding Restricted Shares vest. You will forfeit automatically any dividends and other distributions on the Restricted Shares held by the Company for your account to
the extent that you forfeit the corresponding Restricted Shares. 

  

	 	d.	Release of Restrictions—As soon as practicable after your Restricted Shares vest under Section 2 above, the Company will issue to you a certificate or
certificates for (or evidence in book entry or similar account) shares of Common Stock equal to the number of Restricted Shares that became vested under Section 2 above. Such shares will not be subject to any restrictions under this Agreement,
but may be subject to certain restrictions under applicable securities laws. 

  

	4.	No Section 83(b) Election 

 The grant of the Restricted Shares to you is conditioned upon you not making an election under section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”) with respect to the
Restricted Shares. By acknowledging this Agreement through the Plan website, you agree not to make an election under Code section 83(b) with respect to the Restricted Shares. 

 

	5.	Transferability of Restricted Shares 

 The Restricted Shares may not be sold, pledged, assigned or transferred in any manner; any such purported sale, pledge, assignment or transfer shall be void and of no effect. 

 

	6.	Conformity with Plan 

 The
Restricted Shares are intended to conform in all respects with, and are subject to, all applicable provisions of the Plan which is incorporated herein by reference. Inconsistencies between this Agreement and the Plan shall be resolved in accordance
with the terms of the Plan except as expressly provided otherwise in this Agreement. The Committee reserves its right to amend or terminate the Plan at any time without your consent; provided, however, that the Restricted Shares shall not, without
your written consent, be adversely affected thereby (except to the extent the Committee reasonably determines that such amendment or termination is necessary or appropriate to comply with applicable law or the rules or regulations of any stock
exchange on which the Company’s stock is listed or quoted). All interpretations and determinations of the Committee or its delegate shall be final, binding and conclusive upon you and your legal representatives with respect to any question
arising hereunder or under the Plan or otherwise, including guidelines, policies or regulations which govern administration of the Plan. By acknowledging this Agreement through the Plan website, you agree to be bound by all of the terms of the Plan
and acknowledge availability and accessibility of the Plan document, the Plan Prospectus, and either the Company’s latest annual report to shareholders or annual report on Form 10-K on the Plan and/or Company websites. You understand that you
may request paper copies of the foregoing documents by contacting the Company’s Director, Executive Compensation & International Compensation and Benefits. 

  
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	7.	Restrictions on Shares 

If the Committee determines that the listing, registration or qualification upon any securities exchange or under any law of shares
subject to the grant of the Restricted Shares is necessary or desirable as a condition of, or in connection with, the granting of same or the issue or purchase of shares thereunder, no shares may be issued unless such listing, registration or
qualification is effected free of any conditions not acceptable to the Committee. All certificates for shares of Common Stock delivered under the Plan shall be subject to such stop-transfer orders and other restrictions as the Committee may deem
advisable under the rules, regulations, and other requirements of the Securities and Exchange Commission, any listing standards of any exchange or self-regulatory organization on which the Common Stock of the Company is listed, and any applicable
federal or state laws; and the Committee may cause a legend or legends to be placed on any such certificates to make appropriate reference to such restrictions. In making such determination, the Committee may rely upon an opinion of counsel for the
Company. The Company shall have no liability to deliver any shares under the Plan or make any other distribution of the benefits under the Plan unless such delivery or distribution would comply with all applicable state, federal, and foreign laws
(including, without limitation and if applicable, the requirements of the Securities Act of 1933), and any applicable requirements of any securities exchange or similar entity. The Committee shall be permitted to amend this Agreement, on the advice
of counsel, to the minimum extent that such amendment is necessary to achieve compliance with the Dodd-Frank Wall Street Reform and Consumer Protection Act and the guidance thereunder. 

 

	8.	Non-Compete, Confidentiality, and Non-Solicitation Requirements 

 The Restricted Shares are also subject to your complying with and not breaching the non-compete, confidentiality, and non-solicitation agreement that you were required to sign as a condition of your
employment with the Company. 
  

	9.	Section 409A 

 It is
intended, and this Agreement shall be construed, so that the Restricted Shares shall be exempt from Code section 409A. However, to the extent that any compensation payable under this Agreement constitutes deferred compensation within the meaning of
Code section 409A and the Department of Treasury regulations and other guidance thereunder, (i) any provisions of this Agreement that provide for payment of such compensation that is triggered by your separation from service shall be deemed to
provide for payment that is triggered only by your “separation from service” within the meaning of Treasury Regulation Section §1.409A-1(h), and (ii) if you are a “specified employee” within the meaning of Treasury
Regulation Section §1.409A-1(i) on the date of your separation from service (with such status determined by the Company in accordance with rules established by the Company in writing in advance of the “specified employee identification
date” that relates to the date of such separation from service or in the absence of such rules established by the Company, under the default rules for identifying specified employees under Treasury Regulation Section 1.409A-1(i)), such
compensation 

  
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shall be paid to you six months following the date of such separation from service (provided, however, that if you die after the date of your separation from service, this six month delay shall
not apply). You acknowledge and agree that the Company has made no representation regarding the tax treatment of any payment under this Agreement and, notwithstanding anything else in this Agreement, that you are solely responsible for all taxes due
with respect to any payment under this Agreement. 
  

	10.	Employment and Successors 

Nothing in the Plan or this Agreement shall serve to modify or amend any employment agreement you may have with the Company or any
Subsidiary or to interfere with or limit in any way the right of the Company or any Subsidiary to terminate your employment at any time, or confer upon you any right to continue in the employ of the Company or any Subsidiary for any period of time
or to continue your present or any other rate of compensation subject to the terms of any employment agreement you may have with the Company. The grant of the Restricted Shares shall not give you any right to any additional awards under the Plan or
any other compensation plan the Company has adopted or may adopt. The agreements contained in this Agreement shall be binding upon and inure to the benefit of any successor of the Company. 

 

	11.	Amendment 

 The Committee
may amend this Agreement by a writing that specifically states that it is amending this Agreement, so long as a copy of such amendment is delivered to you, provided that no such amendment shall adversely affect in a material way your rights
hereunder without your written consent (except to the extent the Committee reasonably determines that such amendment or termination is necessary or appropriate to comply with applicable law or the rules or regulations of any stock exchange on which
the Company’s stock is listed or quoted). Without limiting the foregoing, the Committee reserves the right to change, by written notice to you, the provisions of the Restricted Shares or this Agreement in any way it may deem necessary or
advisable to carry out the purpose of the grant of the Restricted Shares as a result of any change in applicable law or regulation or any future law, regulation, ruling, or judicial decisions; provided that, any such change shall be applicable only
to that portion of the Restricted Shares that are then subject to restrictions as provided herein. 
  

	12.	Notices 

 Any notice to be
given under the terms of this Agreement to the Company shall be addressed to the Company as follows: 
 Office Depot, Inc.

 c/o Vice President, Global Compensation, Benefits, HRIM & HR Services 

6600 North Military Trail 
 Boca Raton, FL 33496 

  
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 Any notice to be given under the terms of this Agreement to you shall be addressed to
you at the address listed in the Company’s records. By a notice given pursuant to this Section, either party may designate a different address for notices. Any notice shall be deemed to have been duly given when personally delivered (addressed
as specified above) or when enclosed in a properly sealed envelope (addressed as specified above) and deposited, postage prepaid, with the U.S. postal service or an express mail company. 

 

	13.	Severability 

 If all or
any part of this Agreement or the Plan is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity shall not invalidate any portion of this Agreement or the Plan not declared to be unlawful or
invalid. Any section of this Agreement (or part of such a section) so declared to be unlawful or invalid shall, if possible, be construed in a manner that will give effect to the terms of such section or part of a section to the fullest extent
possible while remaining lawful and valid. 
  

	14.	Entire Agreement 

 This
Agreement contains the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements or understandings, oral or written, with respect to the subject matter herein. By acknowledging this Agreement
online through the Plan website, you accept the Restricted Shares in full satisfaction of any and all obligations of the Company to grant equity compensation awards to you as of the date hereof. 

 

	15.	Governing Law 

 This
Agreement will be governed by and enforced in accordance with the laws of the State of Florida, without giving effect to its conflicts of laws rules or the principles of the choice of law. 

 

	16.	Venue 

 Any action or
proceeding seeking to enforce any provision of or based on any right arising out of this Agreement may be brought against you or the Company only in the courts of the State of Florida or, if it has or can acquire jurisdiction, in the United States
District Court for the Southern District of Florida, West Palm Beach Division; and you and the Company consent to the jurisdiction of such courts in any such action or proceeding and waive any objection to venue laid therein. 

To confirm your understanding and acknowledgment of the terms contained in this Agreement, please log on to the Plan website, and follow the online
instructions for acknowledging the Restricted Shares. 
 Very truly yours, 
 OFFICE DEPOT, INC. 

  
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