Document:

Exhibit 10.2

 

ACCO BRANDS CORPORATION

 

AMENDED AND RESTATED

 

2005 LONG-TERM INCENTIVE PLAN

 

PERFORMANCE STOCK UNIT AWARD AGREEMENT

 

 

AMENDMENT
NO. 1 TO PERFORMANCE STOCK UNIT AWARD AGREEMENT

 

(2007-2009 Performance
Period)

 

This
Amendment No. 1 is made and entered into this and effective March 19,
2008 by and between ACCO Brands Corporation, a Delaware corporation
(collectively with all Subsidiaries, the “Company”) and                                                       
(“Grantee”)

 

WHEREAS,
the Company and Grantee have previously entered into a Performance Stock Unit
Award Agreement effective March 16, 2007 (the “Award Agreement”) pursuant
to the Company’s Amended and Restated 2005 Incentive Plan (“Plan”), and

 

WHEREAS,
the Company and Grantee mutually desire to amend the Award Agreement upon the
terms and conditions stated herein.

 

NOW
THEREFORE, subject to the terms and conditions set forth herein:

 

	
  1.

  	
   

  	
  The words “Schedule I” as referred to in
  Section 3.(a) of the Award Agreement are hereby deleted and replaced
  with the words “Schedule I-A”. Schedule I-A is attached hereto.

  
	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
  Any capitalized terms used herein that are not
  defined herein shall have the meaning ascribed to them in the Award
  Agreement.

  
	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
  This Amendment No. 1 to Performance Stock Unit
  Award Agreement is conditioned on Grantee signing this Amendment and
  returning it to the Company by
                      ,
  2008, and is subject to all terms, conditions and provisions of the Plan and
  the Award Agreement as modified by this Amendment, which Grantee accepts upon
  signing and delivering this agreement to the Company.

  
	
   

  	
   

  	
   

  
	
  4.

  	
   

  	
  Except as altered and modified herein, the Award
  Agreement shall continue in full force and effect.

  

 

 

IN
WITNESS WHEREOF, the parties have executed this Amendment No. 1 as of the
date and year first above written.

 

	
   

  	
  ACCO BRANDS CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  David
  L Kaput [s]

  
	
   

  	
   

  
	
   

  	
  Name:

  	
  David
  L. Kaput

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Its:

  	
   

  	
  Senior
  Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Grantee
  Name

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Grantee
  Signature

  

 

2EXHIBIT
10.3

 

ACCO BRANDS CORPORATION

RETIREMENT AGREEMENT FOR DAVID D. CAMPBELL

 

This
Retirement Agreement (“Agreement”) is made, entered into, and is
effective as of May 1, 2008 (the “Effective Date”), by and
between ACCO Brands Corporation, a Delaware corporation, and David D. Campbell
(the “Executive”).

 

WHEREAS,
from and after January 1, 1989 until the spin-off from Fortune Brands, Inc.
occurring August 16, 2005, the Executive was employed by the Company and
certain then-affiliates of the Company and in connection therewith participated
in United States tax-qualified defined benefit pension plans, a foreign pension
plan and a non-qualified defined benefit supplemental executive retirement plan
(collectively, the “Former Employer Pensions”);

 

WHEREAS,
the Executive has participated in the Company’s tax-qualified Pension Plan for
Salaried and Certain Hourly-Paid Employees (“Pension”) and its
non-qualified Supplemental Retirement Plan (“SRP”) (collectively, both
such plans are sometimes referred to herein as the “ACCO Pensions”)
since such spin-off;

 

WHEREAS,
due to those separate periods of service, the sum of Executive’s accrued
benefits under the Former Employer Pensions plus his accrued benefits under the
ACCO Pensions is materially less than the accrued benefit the Executive would
have accrued under the ACCO Pensions in the absence of such separate periods of
service; and

 

WHEREAS,
the Company desires to provide the Executive with a non-qualified supplemental
retirement benefit hereunder to compensate the Executive, in part, for the
adverse effects of such break in service, as provided herein.

 

NOW,
THEREFORE, in consideration of the foregoing and of the mutual covenants and
agreements of the parties set forth in this Retirement Agreement, and of other
good and valuable consideration the receipt and sufficiency of which are hereby
acknowledged, the parties hereto, intending to be legally bound, agree as
follows:

 

1.             Definitions. 
Any term not defined herein shall have the meaning set forth in the SRP
or, if not defined under the SRP, as defined under the Pension and applicable
under the SRP.

 

2.             Supplemental Executive Retirement Benefit.

 

(a)           The
Company shall provide the Executive with a non-qualified supplemental
retirement benefit (“Supplemental Retirement Benefit”) payable as of the
first day of the month coincident with or next following the later of Executive’s
attainment of age 55 and his Separation from Service with the Company and all
Affiliated Employers (“Commencement Date”) in the amount equal to the
positive difference (if any) between (x) the Tentative Benefit minus (y) the
Offset Benefit.  For this purpose:

 

 

(i)            The Tentative
Benefit, the ACCO Pension Benefit and the Former Employer Benefit each will be
expressed in the normal form of benefit set forth under the Pension upon the
attainment of normal retirement age.  For
the avoidance of doubt, as of the date hereof, the normal form of benefit
payable upon attainment of normal retirement age is a Life Annuity payable at
age 65.

 

(ii)           The “Tentative
Benefit” is the amount of benefit that the Executive would have accrued
under the ACCO Pensions had the Executive been credited with eligibility,
benefit and vesting service thereunder equal to the sum of the number of whole
and partial years of service that were credited to the Executive under the
Former Employer Pensions plus his whole and partial years of service credited
to the Executive under the ACCO Pensions, but for such purpose (1) for
such deemed benefit service accrued through August 15, 2005 under the
Former Employer Pensions, by applying the formula for accrual of benefits under
the Pension as in effect on January 1, 2007 and (2) for such benefit
service accrued under the ACCO Pensions, by applying the benefit formula as in
effect under the Pension from time to time after August 15, 2005, in each
case applying such formula as is set forth in Article IV of the Pension
(or any successor provision).  For the
avoidance of doubt, through December 31, 2007, for purposes of the
Executive’s Tentative Benefit the Executive is credited with 19 years and 0
months of benefit service and with sufficient eligibility service and vesting
service to be fully vested in his Tentative Benefit.

 

(iii)          The “Offset
Benefit” is the sum of the ACCO Pension Benefit plus the Former Employer
Benefit as hereinafter defined.

 

(iv)          The “ACCO Pension
Benefit” is the sum of the Pension Benefit plus the SRP Benefit accrued
from and after August 16, 2005.  The
“Pension Benefit” is the accrued and vested benefit payable to the Executive
under the Pension as is determined as of the Commencement Date, based on the
terms thereof as in effect from time to time after August 15, 2005.  The “SRP Benefit” is the accrued and
vested benefit payable to the Executive under the SRP as is determined as of
the Commencement Date, based on the terms thereof as in effect from time to
time after August 15, 2005.

 

(v)           The “Former
Employer Benefit” is the amount of $11,501.18 per month.

 

(b)           The Supplemental Retirement Benefit shall
be fully vested at all times and shall be paid out in any form for which
benefits may be payable under the SRP on the Commencement Date, in accordance
with the terms of the SRP as then in effect, (and may differ from the form of
benefit elected or deemed elected by the Executive under the SRP) as if the
Supplemental Retirement Benefit were paid thereunder (incorporating by
reference such terms into this Agreement, including any conditions on electing
a form of payment of the Supplemental Retirement Benefit thereunder in compliance
with Section 409A of the Code); provided, on the date hereof, the
Executive hereby elects to receive his benefit in the form of a joint and 50%
survivor annuity if he is married on the Commencement Date and as a single life
annuity if he is not then married; provided further, the foregoing to
the contrary notwithstanding, if the Commencement Date is based on the date of
Executive’s Separation from Service with the 

 

2

 

Company and all Affiliated Employers, commencement of
the Supplemental Retirement Benefit shall be postponed until the earlier of (i) the
date that is six months after the date of the Executive’s Separation from
Service and (ii) the date of the Executive’s death following such Separation
from Service, in which case the amount of Supplemental Retirement Benefit that
is determined and postponed for six months (or such shorter period due to the
death of the Executive) shall be paid to the Executive (or, if applicable, the
Executive’s Surviving Spouse or beneficiary) in a lump sum, together with
interest, accrued thereon (not compounded) at the applicable interest rate
(within the meaning provided under the definition of Actuarial Equivalent as in
effect at such time under the Pension) less 200 basis points on the date
payment of the benefit hereunder commences.

 

(c)           In
the event of the Executive’s death before his Separation from Service, the date
of the Executive’s death shall be deemed to be his Commencement Date and his
Supplemental Retirement Benefit shall be paid to his Surviving Spouse (if any)
in a lump sum that is the Actuarial Equivalent of the normal form of his
benefit determined as of such Commencement Date.

 

(d)           The
Supplemental Retirement Benefit shall commence (or, if applicable, the survivor’s
benefit under Section 2(c) shall be paid) as soon as may be
practicable, but not later than two and one-half months, after the Commencement
Date, except as may be postponed under clause (i) or (ii) under Section 2(b).

 

(e)           Anything
herein to the contrary notwithstanding, upon the occurrence of a Change of
Control, the date of such Change of Control shall be deemed to be the “Commencement
Date” and the Supplemental Retirement Benefit shall be paid to the Executive in
a lump sum that is the Actuarial Equivalent of the normal form of his benefit,
determined as of such Commencement Date, as soon as may be practicable
thereafter, but not later than two and one-half months after such deemed
Commencement Date.

 

3.             Miscellaneous.

 

(a)           Anything
herein to the contrary notwithstanding, the Executive, his Surviving Spouse and
other beneficiary shall be an unsecured creditor, with no secured or
preferential rights to any assets of the Company or any other party for payment
of the Supplemental Retirement Benefit. 
The Company’s obligation hereunder shall be an unfunded and unsecured
promise to pay money in the future. 
Anything herein to the contrary notwithstanding, at no time shall any
asset of the Company or any Affiliate be restricted, set aside, reserved or
transferred in trust for the benefit of the Executive as a result of a change
in the financial health of the Company or any Affiliate at any time during a
restricted period respecting any tax-qualified defined benefit plan sponsored
by the Company or any Affiliate (other than a multi-employer defined benefit
plan for employees covered by a collective bargaining agreement with the
Company or any Affiliate).  For such
purpose, “applicable covered employee” and “restricted period” shall have the
meanings set forth in section 409A(b)(3) of the Code.

 

(b)           Nothing
herein shall be construed as giving the Executive the right to be retained in
the employ of the Company.

 

3

 

(c)           This
Agreement may be amended only in a writing entered into by the Company and the
Executive (or his Surviving Spouse or beneficiary following the death of the
Executive).

 

(d)           The
Executive shall make appropriate arrangements for the satisfaction of any
applicable federal, state or local taxes respecting his Supplemental Retirement
Benefit. The Company shall be authorized to take such action as may be
appropriate, including withholding from amounts due to the Executive or his
Surviving Spouse or beneficiary hereunder, compensation to the Executive from
the Company or otherwise in order to assure tax compliance.

 

(e)           This
Agreement shall bind and inure to the benefit of the Company and its successors
and assigns.  The term successors as used
herein shall include any corporate or other business entity which shall,
whether by merger, consolidation, purchase or otherwise acquire all or
substantially all of the business and assets of the Company, and successors of
any such corporation or other business entity. 
The Supplemental Retirement Benefit may not be voluntarily or
involuntarily assigned or alienated by the Executive, or his Surviving Spouse
or beneficiary.

 

(f)            Except
to the extent preempted by the law of the United States, this Agreement shall
be construed and administered in accordance with the laws of the State of
Illinois.

 

4

 

IN WITNESS WHEREOF, the Executive and Company, by its
duly authorized representatives, have executed this Agreement effective as of
the Effective Date.

 

	
   

  	
  Executive:

  
	
   

  	
   

  
	
   

  	
  /s/David
  D. Campbell

  
	
   

  	
  David
  D. Campbell

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ACCO Brands Corporation

  
	
   

  	
   

  
	
   

  	
  /s/Steve Rubin

  
	
   

  	
  Senior Vice President,
  Secretary and

  
	
   

  	
  General Counsel

  

 

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