Document:

Employee Benefits Agreement

 Exhibit 10.3 
 EMPLOYEE BENEFITS AGREEMENT 
 by and among 

MEADWESTVACO CORPORATION, 
 MONACO SPINCO INC. 
 and 

ACCO BRANDS CORPORATION 
 Dated as of November 17, 2011 

 EMPLOYEE BENEFITS AGREEMENT 

This Employee Benefits Agreement (this “Agreement”), dated as of November 17, 2011, is entered into by and between
MeadWestvaco Corporation, a Delaware corporation (“Parent”), Monaco SpinCo Inc., a Delaware corporation (“Spinco”), and ACCO Brands Corporation, a Delaware corporation (“Company,” and together with
Parent and Spinco, the “Parties”), effective as between Parent and Spinco at the Business Transfer Time (as defined below) and effective as among all the Parties at the Effective Time (as defined below). 

RECITALS: 
 WHEREAS, Parent and Spinco have entered into a Separation Agreement (such agreement, as amended, restated or modified from time to time, the “Separation Agreement”) pursuant to
which Parent and Spinco have set out the terms on which, and the conditions subject to which, they wish to implement the Spinco Reorganization (as defined in the Separation Agreement) and the Distribution (as defined in the Separation Agreement).

 WHEREAS, Parent, Spinco, Company and Merger Sub (as defined below) have entered into a Merger Agreement (the
“Merger Agreement”), pursuant to which, immediately following the Distribution, Spinco and Merger Sub will merge (the “Merger”) and Spinco Common Stock (as defined below) will be converted into Company Common Stock
on the terms and subject to the conditions of the Merger Agreement. 
 WHEREAS, in connection with the foregoing, the
Parties have agreed to enter into this Agreement to allocate among Parent, Spinco and the Company Assets, Liabilities and responsibilities with respect to certain employee compensation, pension and benefit plans, programs and arrangements and
certain employment matters. 
 NOW THEREFORE, in consideration of the mutual agreements, covenants and other provisions
set forth in this Agreement, the Parties hereby agree as follows: 
 ARTICLE I 

DEFINITIONS 
 Unless otherwise defined in this Agreement, capitalized words and expressions and variations thereof used in this Agreement or in its Exhibits have the meanings set forth below. Capitalized terms used
herein and not otherwise defined shall have the meanings set forth in the Separation Agreement. 
 1.1
“Affiliate” has the meaning given to it in the Separation Agreement. 
 1.2 “Agreement” means
this Employee Benefits Agreement, including all the Exhibits hereto. 
 1.3 “Assets” has the meaning given to
it in the Separation Agreement. 

 1.4 “Business Transfer Time” has the meaning given to it in the Separation
Agreement. 
 1.5 “C&OP Business” has the meaning given to it in the Merger Agreement. 

1.6 “CBAs” has the meaning given to it in Section 7.2. 

1.7 “Code” means the Internal Revenue Code of 1986, as amended, or any successor federal income tax Law. Reference to a
specific Code provision also includes any proposed, temporary or final regulation in force under that provision. 
 1.8
“Company” has the meaning given to it in the preamble to this Agreement. 
 1.9 “Company Bargained
401(k) Plan” has the meaning given to it in Section 6.4. 
 1.10 “Company Common Stock” has the
meaning given to it in the Merger Agreement. 
 1.11 “Company Flex Plan” has the meaning given to it in
Section 3.4. 
 1.12 “Covered Employees” has the meaning given to it in Section 3.4. 

1.13 “Company Non-Bargained 401(k) Plan” has the meaning given to it in Section 6.3. 

1.14 “Company Severance Plans” has the meaning given to it in Section 3.2(b). 

1.15 “Effective Time” has the meaning given to it in the Merger Agreement. 

1.16 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. Reference to a specific provision of
ERISA also includes any proposed, temporary or final regulation in force under that provision. 
 1.17 “Foreign
CBAs” has the meaning given to it in Section 7.2. 
 1.18 “Hong Kong Spinco Employees” has the
meaning given to it in Section 2.1(b). 
 1.19 “Laws” has the meaning given to it in the Separation
Agreement. 
 1.20 “Liabilities” has the meaning given to it in the Separation Agreement. 

1.21 “Merger” has the meaning given to it in the preamble to this Agreement. 

1.22 “Merger Agreement” has the meaning given to it in the preamble to this Agreement. 

1.23 “Merger Sub” has the meaning given to it in the Separation Agreement. 

  
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 1.24 “New Plans” has the meaning given to it in Section 3.3.

 1.25 “Nonqualified Plan Participants” has the meaning given to it in Section 6.5(a). 

1.26 “Offers” has the meaning given to it in Section 2.1(b). 

1.27 “Parent” has the meaning given to it in the preamble to this Agreement. 

1.28 “Parent Bargained 401(k) Plan” has the meaning given to it in Section 6.4. 

1.29 “Parent Benefit Plan” has the meaning given to “MWV Benefit Plan” in the Merger Agreement. 

1.30 “Parent Common Stock” has the meaning given to it in the Separation Agreement. 

1.31 “Parent Flex Plan” has the meaning given to it in Section 3.4. 

1.32 “Parent Non-Bargained 401(k) Plan” has the meaning given to it in Section 6.3. 

1.33 “Parent Nonqualified Plans” has the meaning given to it in Section 6.5(a). 

1.34 “Parent U.S. Bargained DB Plan” has the meaning given to it in Section 6.2(a). 

1.35 “Parent U.S. Non-Bargained DB Plan” has the meaning given to it in Section 6.1. 

1.36 “Participating Company” means (a) Parent and (b) any other Person (other than an individual) that
participates in a Parent Benefit Plan. 
 1.37 “Person” has the meaning given to it in the Separation
Agreement. 
 1.38 “Separation Agreement” has the meaning given to it in the recitals to this Agreement.

 1.39 “Spinco” has the meaning given to it in the preamble to this Agreement. 

1.40 “Spinco U.S. Bargained DB Plan” has the meaning given to it in Section 6.2(b). 

1.41 “Spinco Benefit Plan” has the meaning given to it in the Merger Agreement. 

1.42 “Spinco Common Stock” has the meaning given to it in the Separation Agreement. 

1.43 “Spinco Employee” has the meaning given to it in the Merger Agreement. 

1.44 “Spinco Entities” has the meaning given to it in the Separation Agreement. 

1.45 “Spinco Group” has the meaning giving to it in the Separation Agreement. 

  
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 1.46 “Spinco Workers Compensation Claims” has the meaning given to it in
the Separation Agreement. 
 1.47 “Subsidiary” has the meaning given to it in the Separation Agreement.

 1.48 “Transaction Agreements” has the meaning given to it in the Separation Agreement. 

1.49 “Transferred Account Balances” has the meaning given to it in Section 3.4. 

1.50 “U.S. Bargained Participants” has the meaning given to it in Section 6.2(b). 

1.51 “U.S. CBAs” has the meaning given to it in Section 7.1. 

ARTICLE II 

EMPLOYMENT OF SPINCO EMPLOYEES; 
 SEVERANCE; ASSUMPTION AND RETENTION OF LIABILITIES; 
 SPINCO PARTICIPATION
IN PARENT BENEFIT PLANS; 
 SPINCO WORKERS COMPENSATION CLAIMS 

2.1 Employment of Spinco Employees. 
 (a) Automatic Transfer Employees. Except as set forth in Section 2.1(b), all Spinco Employees shall be employees of a Spinco Entity immediately prior to the Business Transfer Time. 

(b) Hong Kong Spinco Employees. No fewer than 15 days prior to the Business Transfer Time, Guangzhou Acco Trading
Company Limited shall extend written offers of employment (the “Offers”) to each Spinco Employee whose employment is located in Hong Kong or who is employed by an Affiliate of Parent based in Hong Kong (any such employee a
“Hong Kong Spinco Employee”), which Offers shall be conditioned upon the occurrence of the Effective Time. The Offers shall provide for compensation, benefits and terms of employment at least as favorable as those in effect
immediately prior to the Business Transfer Time. For the avoidance of doubt, in accordance with Section 2.2, the Spinco Group shall be solely responsible for all Liabilities resulting from the termination or alleged termination of any Hong Kong
Spinco Employee’s employment that occurs as a result of, in connection with or following the consummation of the transactions contemplated by the Transaction Agreements, including Liabilities arising out of the failure of Guangzhou Acco Trading
Company Limited to make an Offer to, or continue the employment of, a Hong Kong Spinco Employee or a Hong Kong Spinco Employee’s refusal to accept an Offer from, or commence employment with, Guangzhou Acco Trading Company Limited. 

2.2 Severance. A Spinco Employee shall not be deemed to have terminated employment for purposes of determining eligibility for
severance benefits in connection with or in anticipation of the consummation of the transactions contemplated by the Transaction Agreements. The Spinco Group shall be solely responsible for all Liabilities in respect of all costs

  
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arising out of payments and benefits relating to the termination or alleged termination of any Spinco Employee’s employment that occurs as a result of, in connection with or following the
consummation of the transactions contemplated by the Transaction Agreements, including any amounts required to be paid (including any payroll or other taxes), and the costs of providing benefits, under any applicable severance, separation,
redundancy, termination or similar plan, program, practice, contract, agreement, Law or regulation (such benefits to include any medical or other welfare benefits, outplacement benefits, accrued vacation and taxes). Except as provided in the second
sentence of Section 2.4, the Spinco Group shall indemnify and hold harmless Parent with respect to any claims by a Spinco Employee that such Spinco Employee is entitled to severance benefits under a Parent severance plan. 

2.3 Assumption and Retention of Liabilities. 

(a) From and after the Business Transfer Time, except as otherwise expressly provided in this Agreement, the Spinco Group
shall assume or retain, as applicable, and the Spinco Group hereby agrees to pay, perform, fulfill and discharge, in due course in full, (i) all Spinco Benefit Plans and all Liabilities under all Spinco Benefit Plans, (ii) all Liabilities
with respect to the employment or termination of employment of all Spinco Employees, (iii) all Liabilities with respect to (A) the engagement or termination of services of any individual who is, or was, an independent contractor (including
any temporary service worker, consultant, freelancer, on-call worker, incidental worker, or other nonpayroll worker of Spinco or any Spinco Entity, who is not an employee of Spinco or a Spinco Entity under applicable Laws) or in any other
non-employment, or retainer arrangement, or relationship with Spinco or a Spinco Entity, or (B) the engagement or termination of services of any agency employee, leased employee, or other individual employed by any person other than Spinco or a
Spinco Entity (and for the avoidance of doubt, no such individual under this clause (iii) shall be a “Spinco Employee” under this Agreement) and (iv) any other Liabilities expressly assigned to the Spinco Group under this
Agreement. 
 (b) The Parties agree that to the extent provided under the applicable Laws of certain foreign
jurisdictions, (i) any employment agreements between Parent and its Affiliates, on the one hand, and any non-U.S. Spinco Employee, on the other hand, and (ii) any collective bargaining agreements applicable to the non-U.S. Spinco Employees
in such jurisdictions, will in each case have effect after the Business Transfer Time as if originally made between Spinco, or the applicable foreign Spinco Entity employing such individual, and the other parties to such employment agreement or
collective bargaining agreement. 
 2.4 Spinco Participation in Parent Benefit Plans. Effective as of the Effective Time,
(a) Spinco and each other Spinco Entity shall cease to be a Participating Company in any Parent Benefit Plan, other than any Spinco Benefit Plan, (b) the Spinco Employees shall cease to accrue further benefits and shall cease to be active
participants in the Parent Benefit Plans (other than any Spinco Benefit Plan), and (c) the Parties shall take all necessary action before the Effective Time to effectuate the foregoing. Except as otherwise expressly provided in this Agreement
or any other Transaction Agreement, Parent shall indemnify and hold Spinco, each Spinco Entity 

  
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and the Company harmless for any Liability under any Parent Benefit Plan (other than any Spinco Benefit Plan) arising with respect to service (and the termination of service) prior to the
Business Transfer Time of Spinco Employees and of individuals described in Section 2.3(a)(iii) of this Agreement; provided, however, that such indemnification obligation shall not apply to the extent (and only to the extent) that
any such Liability results from action taken by any Spinco Entity or the Company after the Business Transfer Time. For the avoidance of doubt, the indemnification obligation set forth in the immediately preceding sentence shall not apply with
respect to Liabilities for compensation or benefits (including any obligations under a CBA) that accrue, are paid or are provided on or after the Business Transfer Time even if the levels of, or eligibility for, compensation or benefits are based on
service provided prior to the Business Transfer Time. 
 2.5 Spinco Workers Compensation Claims. Notwithstanding anything
to the contrary contained in this Agreement, for the avoidance of doubt, the treatment of any Spinco Workers Compensation Claims shall be governed by the terms of the Separation Agreement. 

ARTICLE III 

TERMS OF EMPLOYMENT FOR SPINCO EMPLOYEES 
 3.1 Levels of Compensation and Benefits for Bargained Spinco Employees. Spinco shall provide, or shall cause to be provided, to each Spinco Employee covered by a CBA, compensation, benefits and
terms of employment in accordance with the terms of the applicable CBA, and, with respect to any Spinco Employee covered by a CBA, the terms and conditions of the applicable CBA shall supersede any terms and conditions of this Agreement that are
inconsistent therewith. 
 3.2 Levels of Compensation and Benefits for Non-Bargained Spinco Employees. 

(a) Spinco and the Company shall provide, or shall cause to be provided, to each Spinco Employee who is not covered by a
CBA (i) until the one year anniversary of the Business Transfer Time, an annual rate of base salary, or hourly wage rate for hourly employees, that is not less than the annual rate of base salary or hourly wage rate, as the case may be, as was
provided to such Spinco Employee immediately before the Business Transfer Time (or if greater, such base compensation approved in the ordinary course, but not yet implemented, by Parent), (ii) for 2012, (A) subject to Section 4.2 of
this Agreement, a Company annual cash incentive opportunity at Parent target payment levels in effect for such Spinco Employee immediately before the Business Transfer Time, and (B) a Company equity compensation plan award opportunity not less
favorable to the Spinco Employee than is then generally available to other similarly situated employees of the Company in 2012, and (iii) all other generally available compensation (including without limitation, following the periods described
in clauses (i) and (ii), base compensation, annual cash incentive opportunity, and equity compensation plan participation), benefits, and terms of employment that, subject to ordinary cyclical adjustments generally applicable to similarly
situated employees of the Company, are comparable to such compensation, benefits and terms of employment provided to similarly situated employees of the Company and its Subsidiaries. 

  
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 (b) Immediately following the Effective Time, each Spinco Employee who is
not covered by a CBA shall participate in the Company’s Executive Severance Plan or the Company’s Severance Plan (together, the “Company Severance Plans”), as applicable, on the same basis as other similarly situated
Company employees, and the Company shall provide or shall cause to be provided to any such Spinco Employee whose employment terminates during the twelve month period following the Effective Time as a result of redundancies or other similar
consequences in connection with the integration of Spinco and the Company following the Effective Time, severance rights and benefits equivalent to the severance rights and benefits under such plans as would apply to such Spinco Employee if the
Effective Time were construed to be a “Change of Control” under the Company Severance Plans. Notwithstanding the immediately preceding sentence, with respect to any Spinco Employee with a Parent retention agreement entered into on or
before October 3, 2011 that provides for severance benefits, in the event of a termination of such Spinco Employee’s employment during the twelve month period following the Effective Time that is involuntary (including a termination by
such Spinco Employee for good reason, if applicable) or results from disability, such Spinco Employee’s severance benefits shall be equal to the greater of (i) the severance benefits provided for under the terms of such retention
agreement, and (ii) the severance benefits determined in accordance with the immediately preceding sentence. The Company shall take into account for purposes of calculating a Spinco Employee’s severance benefits under the applicable
Company Severance Plan, such Spinco Employee’s service with Parent and its Affiliates prior to the Business Transfer Time and Spinco and its Affiliates following the Business Transfer Time as service for the Company. After October 3, 2011,
Parent shall not enter into any additional retention agreements with Spinco Employees that provide for severance benefits that are contrary to the provisions of the first sentence of this Section 3.2(b). 

(c) In addition to the foregoing, the Spinco Group shall comply with applicable Laws regarding compensation and benefits
of the Spinco Employees who are not covered by a CBA. 
 3.3 Service Credit and Welfare Plans. For all purposes
(including vesting, eligibility to participate and level of benefits) under the employee benefit plans of the Company and its Subsidiaries (including Spinco and its Subsidiaries) providing benefits to any Spinco Employees after the Effective Time
(the “New Plans”), each Spinco Employee shall be credited with his or her years of service with Parent, Spinco and their Subsidiaries and their respective predecessors before the Effective Time, to the same extent as such Spinco
Employee was entitled, before the Effective Time, to credit for such service under any similar Parent Benefit Plan in which such Spinco Employee participated or was eligible to participate immediately prior to the Effective Time, provided
that the foregoing shall not apply with respect to benefit accrual under any defined benefit pension plan or to the extent that its application would result in a duplication of benefits with respect to the same period of service. In addition, and
without limiting the generality of the foregoing, (a) each Spinco Employee shall be immediately eligible to participate, without any waiting time, in any and all New Plans to the extent coverage under such New Plan is comparable to a Parent
Benefit Plan in which such Spinco Employee participated immediately before the Effective Time, and (b) for purposes of each New Plan 

  
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providing medical, dental, pharmaceutical and/or vision benefits to any Spinco Employee, Spinco and the Company shall use commercially reasonable efforts to cause all pre-existing condition
exclusions and actively-at-work requirements of such New Plan to be waived for such employee and his or her covered dependents, unless and to the extent the individual, immediately prior to entry in the New Plans, was subject to such conditions
under the comparable Parent Benefit Plans. 
 3.4 Flexible Spending Accounts. The Parties shall take all actions
necessary or appropriate so that, effective as of the Effective Time, (a) the account balances under health care flexible spending accounts and under dependent care spending accounts (whether positive or negative) (the “Transferred
Account Balances”) under Parent’s health care flexible spending and dependent care spending plan(s) (collectively, the “Parent Flex Plan”) of the Spinco Employees who are participants in the Parent Flex Plan (the
“Covered Employees”) shall be transferred to one or more comparable plans of the Company or its Subsidiaries (collectively, the “Company Flex Plan”); (b) the elections, contribution levels and coverage levels
of the Covered Employees shall apply under the Company Flex Plan in the same manner as under the Parent Flex Plan; and (c) the Covered Employees shall be reimbursed from the Company Flex Plan for claims incurred at any time during the plan year
of the Parent Flex Plan in which the Effective Time occurs submitted to the Company Flex Plan from and after the Effective Time on the same basis and the same terms and conditions as under the Parent Flex Plan. As soon as practicable after the
Effective Time, and in any event within 10 business days after the amount of the Transferred Account Balances is determined, Parent shall pay the Company the net aggregate amount of the Transferred Account Balances, if such amount is positive, and
the Company shall pay Parent the net aggregate amount of the Transferred Account Balances, if such amount is negative. 
 3.5
Earned Vacation. Except for such cases in which Parent is required under applicable Law to pay a Spinco Employee an amount in respect of such Spinco Employee’s accrued vacation as a result of the Spinco Reorganization or the
Distribution, the Spinco Group shall honor all unused vacation of each Spinco Employee during the calendar year in which the Business Transfer Time occurs. Thereafter, such Spinco Employees shall be subject to, and commence to accrue benefits under,
the vacation, sick leave and other personal time off policies of the Company applicable to the respective Spinco Employee, consistent with Section 3.1, Section 3.2 and Section 3.3 of this Agreement. 

ARTICLE IV 

ANNUAL BONUS AWARDS FOR SPINCO EMPLOYEES 
 4.1 2011. Parent shall be responsible for determining and paying all annual bonus awards to Spinco Employees in respect of the 2011 calendar year in accordance with the terms of the applicable
Parent bonus plans. 
 4.2 Post-2011. The Company shall be responsible for determining and paying all annual bonus awards
to Spinco Employees in respect of the 2012 calendar year. The amount of such annual bonus as may be paid to Spinco Employees for 2012 shall be determined in 

  
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accordance with reasonable performance targets established by Parent and in effect immediately prior to the Business Transfer Time, including bonus metrics based upon business goals of the
C&OP Business, together with Company-wide business goals that apply to Spinco Employees on a basis no less favorably than they apply to similarly situated employees of the Company. The Company’s obligation to pay any calendar 2012 annual
bonus for Spinco Employees under this Section 4.2 shall be subject to (a) the Company’s achieving a threshold level of performance goals established by the Company in respect of bonuses payable to Company employees under the
Company’s annual bonus plan for 2012 and (b) approval by the Company’s Board of Directors, which approval may be granted or withheld in accordance with the same procedures and discretion as apply to other similarly situated Company
employees in respect of their 2012 annual bonuses. 
 ARTICLE V 

COBRA, HIPAA, WARN 
 5.1 COBRA and HIPAA. The Spinco Group will assume and be responsible for, and shall indemnify and hold harmless Parent and its Subsidiaries for, all Liabilities resulting from any events occurring
on or after the Business Transfer Time with respect to Spinco Employees and their eligible dependents, in respect of health insurance under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, and the Health Insurance Portability
and Accountability Act of 1996, Sections 601, et seq. and Sections 701, et seq. of ERISA, Section 4980B and Sections 9801, et seq. of the Code and applicable state or similar Laws. 

5.2 WARN Act. Effective as of the Business Transfer Time, the Spinco Group shall assume Liability for, and shall indemnify and
hold harmless Parent and its Subsidiaries with respect to, any Liabilities incurred by Parent and its Subsidiaries pursuant to the Worker Adjustment and Retraining Notification Act and any similar statute in connection with any Spinco Employee, to
the extent such Liability arises from actions of the Company or its Subsidiaries (including Spinco and its Subsidiaries). 

ARTICLE VI 

PENSION PLANS AND DEFERRED COMPENSATION PLANS 
 6.1 Parent U.S. Non-Bargained DB Plan. Parent shall retain all Liabilities under Parent’s Retirement Plan for Salaried and Non-Bargained Hourly Employees (the “Parent U.S.
Non-Bargained DB Plan”) in respect of benefits accrued thereunder by Spinco Employees prior to the Business Transfer Time. No Spinco Employee shall accrue any benefits under the Parent U.S. Non-Bargained DB Plan in respect of service after
the Business Transfer Time. No Assets or Liabilities of the Parent U.S. Non-Bargained DB Plan shall be transferred to a retirement plan maintained by the Company or any of its Subsidiaries (including Spinco and its Subsidiaries). 

  
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 6.2 Parent U.S. Bargained DB Plan. 

(a) Parent shall retain all Liabilities under the Parent Retirement Plan for Bargained Hourly Employees (the
“Parent U.S. Bargained DB Plan”) in respect of benefits accrued thereunder by Spinco Employees prior to the Business Transfer Time. Parent shall cause each Spinco Employee to become fully vested in his or her accrued benefit under
the Parent U.S. Bargained DB Plan as of, and effective on, the Business Transfer Time. No Spinco Employee shall accrue any benefit under the Parent U.S. Bargained DB Plan in respect of service after the Business Transfer Time. No Assets or
Liabilities of the Parent U.S. Bargained DB Plan shall be transferred to any retirement plans maintained by Company or any of its Subsidiaries (including Spinco and its Subsidiaries). 

(b) Effective as of the Business Transfer Time, the Spinco Group shall establish or cause to be established a defined
benefit pension plan (the “Spinco U.S. Bargained DB Plan”) and associated funding vehicle, covering all Spinco Employees who are participants in the Parent U.S. Bargained DB Plan as of immediately prior to the Business Transfer Time
(the “U.S. Bargained Participants”). The Spinco U.S. Bargained DB Plan shall contain provisions which comply in all respects with all applicable Laws and the applicable CBA. The Spinco U.S. Bargained DB Plan shall provide the U.S.
Bargained Participants the benefits, if any, required under the applicable CBA, except that such benefits shall be reduced by the benefits to which such U.S. Bargained Participants are entitled under the Parent U.S. Bargained DB Plan. For purposes
of calculating any reduction to benefits provided by the Spinco U.S. Bargained DB Plan as a result of benefits payable from the Parent U.S. Bargained DB Plan, benefits from the Spinco U.S. Bargained DB Plan shall be calculated as if each Bargained
Participant terminated employment as of the Business Transfer Time and the Parent U.S. Bargained DB Plan does not recognize any service with Spinco or its Affiliates after the Business Transfer Time for purposes of determining eligibility for early
retirement subsidies or eligibility for early commencement of benefits under the Parent U.S. Bargained DB Plan. Prior to the Business Transfer Time, Spinco shall provide to Parent evidence reasonably satisfactory to Parent of the establishment of
the Spinco U.S. Bargained DB Plan. As soon as reasonably practicable, but not less than 30 days following the Business Transfer Time, Parent shall provide the Company evidence reasonably satisfactory to the Company of the accrued benefit due each
Spinco Employee under the U.S. Bargained DB Plan as of the Business Transfer Time (for such purpose assuming each such Spinco Employee’s continued employment through the Business Transfer Time). 

6.3 Parent Non-Bargained 401(k) Plan. No Spinco Employee shall accrue any benefit under Parent’s Savings & Employee
Stock Ownership Plan for Salaried and Non-Bargained Hourly Employees (the “Parent Non-Bargained 401(k) Plan”) after the Effective Time. No Assets or Liabilities of the Parent Non-Bargained 401(k) Plan shall be transferred to a
retirement plan maintained by the Company or any of its Subsidiaries (including Spinco and its Subsidiaries), other than in connection with a rollover of a Spinco Employee’s account balance under the Parent Non-Bargained 401(k) Plan. The
Company or its applicable Subsidiary shall cause a tax-qualified defined contribution plan that includes a cash or deferred arrangement within the meaning of Section 401(k) of the Code established or maintained by the Company or its applicable
Subsidiary (the “Company Non-Bargained 401(k) Plan”) to accept eligible rollover distributions (as defined in Section 402(c)(4) of the Code) from Spinco Employees with respect to such Spinco Employees’ account balances
(including loans) under the Parent Non-Bargained 401(k) Plan in the form of cash (and, as applicable, promissory notes with respect to loans), if elected by such Spinco Employees. The rollovers described herein shall comply with applicable Law, and
each party shall make all filings and take any actions required of such party under applicable Law in connection therewith. 

  
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 6.4 Parent Bargained 401(k) Plan. No Spinco Employee shall accrue any benefit under
Parent’s Savings & Employee Stock Ownership Plan for Salaried and Bargained Hourly Employees (the “Parent Bargained 401(k) Plan”) after the Effective Time. No Assets or Liabilities of the Parent Bargained 401(k) Plan
shall be transferred to a retirement plan maintained by the Company or any of its Subsidiaries (including Spinco and its Subsidiaries), other than in connection with a rollover of a Spinco Employee’s account balance under the Parent Bargained
401(k) Plan. The Company or its applicable Subsidiary shall cause a tax-qualified defined contribution plan that includes a cash or deferred arrangement within the meaning of Section 401(k) of the Code established or maintained by the Company
or its applicable Subsidiary (the “Company Bargained 401(k) Plan”) to accept eligible rollover distributions (as defined in Section 402(c)(4) of the Code) from Spinco Employees with respect to such Spinco Employees’
account balances (including loans) under the Parent Bargained 401(k) Plan in the form of cash (and, as applicable, promissory notes with respect to loans), if elected by such Spinco Employees. The rollovers described herein shall comply with
applicable Law, and each party shall make all filings and take any actions required of such party under applicable Law in connection therewith. 
 6.5 Nonqualified Deferred Compensation. 
 (a) Parent shall
retain, or cause its Subsidiaries to retain, all Assets and all Liabilities arising out of or relating to Parent’s Deferred Income Plan, Parent’s Retirement Restoration Plan and Parent’s Supplemental Executive Retirement Plan (the
“Parent Nonqualified Plans”), and shall make payments to all participants in such plans who are Spinco Employees (“Nonqualified Plan Participants”) in accordance with the terms of the Parent Nonqualified Plans.

 (b) Parent and Spinco acknowledge that none of the transactions contemplated by the Transaction Agreements
will trigger a payment or distribution of compensation under any of the Parent Nonqualified Plans for any Nonqualified Plan Participant and, consequently, that the payment or distribution of any compensation to which any Nonqualified Plan
Participant is entitled under any of the Parent Nonqualified Plans will occur upon such Nonqualified Plan Participant’s separation from service from the Company and its Subsidiaries or at such other time as provided in the applicable Parent
Nonqualified Plan or such Spinco Employee’s deferral election. 
 (c) As soon as reasonably practicable
following the Business Transfer Time, Parent shall provide to Spinco a list of all Nonqualified Plan Participants. Following the Business Transfer Time, Spinco shall provide, or shall cause to be provided, to Parent notice of the termination of
employment of any Nonqualified Plan Participant upon or as soon as practicable following any such termination. 

  
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 ARTICLE VII 
 COLLECTIVE BARGAINING AGREEMENTS 
 7.1 U.S. Collective Bargaining
Agreements. Spinco (or the applicable Subsidiary of Spinco) shall assume the collective bargaining agreements (collectively, the “U.S. CBAs”) identified on Exhibit A hereto effective immediately after the Business
Transfer Time (including the obligation to honor the terms and conditions thereof and any obligations thereunder requiring a successor to recognize a particular labor union as authorized representative and bargaining agent of an employee group or
for any other purpose). As of immediately prior to the Business Transfer Time, Spinco (or the applicable Subsidiary of Spinco) shall be the “Employer” for purposes of each such U.S. CBA and the Spinco Group shall have sole responsibility
for all Liabilities arising under the U.S. CBAs, and shall indemnify and hold harmless Parent and its Affiliates with respect to the U.S. CBAs. Following the Effective Time, any employee benefit required to be provided to any Spinco Employee covered
by a U.S. CBA pursuant to an employee benefit plan maintained by Parent or any of its Affiliates shall instead be provided pursuant to an employee benefit plan maintained by Company or one of its Subsidiaries (including Spinco and its Subsidiaries).

 7.2 Foreign Collective Bargaining Agreements. As of the Business Transfer Time, the unions representing Spinco
Employees located in jurisdictions outside of the United States will continue to represent those employees for purposes of collective bargaining with their respective employers, and the collective bargaining agreements identified on Exhibit
B hereto (the “Foreign CBAs, and together with the U.S. CBAs, the “CBAs”), shall remain in effect. All obligations and Liabilities of any member of the Parent Group under the Foreign CBAs shall be assumed by, and
become the obligations and Liabilities of, and shall be performed by the Spinco Group, regardless of when or where such obligations and Liabilities arose or arise or were or are incurred, and each member of the Spinco Group agrees to take any and
all steps necessary to assume such obligations and Liabilities under the Foreign CBAs. 
 ARTICLE VIII 

GENERAL AND ADMINISTRATIVE 
 8.1 Reasonable Efforts/Cooperation. Each of the Parties hereto will use its commercially reasonable efforts to promptly take, or cause to be taken, all actions and to do, or cause to be done, all
things necessary, proper or advisable under applicable Laws to consummate the transactions contemplated by this Agreement. Each of the Parties hereto shall cooperate fully on any issue relating to the transactions contemplated by this Agreement for
which the other Party seeks a determination letter or private letter ruling from the Internal Revenue Service, an advisory opinion from the Department of Labor or any other filing (including, but not limited to, securities filings (remedial or
otherwise)), consent or approval with respect to or by a governmental agency or authority in any jurisdiction in the United States or abroad. 
 8.2 No Third-Party Beneficiaries. This Agreement is solely for the benefit of the Parties and is not intended to confer upon any other Persons any rights or remedies hereunder.

  
 -12-

 
Except as expressly provided in this Agreement, nothing in this Agreement shall preclude Parent or its Subsidiaries, at any time after the Business Transfer Time, from amending, merging,
modifying, terminating, eliminating, reducing, or otherwise altering in any respect any Parent Benefit Plan, any benefit under any Parent Benefit Plan or any trust, insurance policy or funding vehicle related to any Parent Benefit Plan. Except as
expressly provided in this Agreement, nothing in this Agreement shall preclude Spinco or any other Spinco Entity at any time after the Business Transfer Time from amending, merging, modifying, terminating, eliminating, reducing, or otherwise
altering in any respect any Spinco Benefit Plan, any benefit under any Spinco Benefit Plan or any trust, insurance policy or funding vehicle related to any Spinco Benefit Plan. Except as provided in this Agreement, nothing in this Agreement shall
preclude the Company or any Company Subsidiary at any time after the Effective Time, from amending, merging, modifying, terminating, eliminating, reducing, or otherwise altering in any respect any Company Benefit Plan, any benefit under any Company
Benefit Plan or any trust, insurance policy or funding vehicle related to any Company Benefit Plan. 
 ARTICLE IX

 MISCELLANEOUS 
 9.1 Effect If Business Transfer Time or Effective Time Does Not Occur. If the Separation Agreement is terminated prior to the Business Transfer Time or the Effective Time, then this Agreement shall
terminate and all actions and events that are, under this Agreement, to be taken or occur effective immediately prior to or as of the Business Transfer Time or the Effective Time, as applicable, or otherwise in connection with the transactions
contemplated by the Transaction Agreements, shall not be taken or occur except to the extent specifically agreed by Parent and Spinco and, respecting the Company, by the Company. 

9.2 Relationship of Parties. Nothing in this Agreement shall be deemed or construed by the Parties or any third party as creating
the relationship of principal and agent, partnership or joint venture between the Parties, it being understood and agreed that no provision contained herein, and no act of the Parties, shall be deemed to create any relationship between the Parties
other than the relationship set forth herein. 
 9.3 Affiliates. Each of Parent, Spinco and the Company shall cause to be
performed, and hereby guarantees the performance of, all actions, agreements and obligations set forth in this Agreement to be performed by one of Parent’s Subsidiaries or a Spinco Entity or one of the Company’s Subsidiaries, respectively.

 9.4 Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall
be deemed given to a Party when (a) delivered to the appropriate address by hand or by nationally recognized overnight courier service (costs prepaid); (b) sent by facsimile with confirmation of transmission by the transmitting equipment;
or (c) received or rejected by the addressee, if sent by certified mail, return receipt requested, in each case to the following addresses and facsimile numbers and marked to the attention of the person (by name or title) designated below (or
to such other address, facsimile number or person as a Party may designate by notice to the other Parties): 

  
 -13-

 if to Parent or, prior to the Business Transfer Time, Spinco: 

MeadWestvaco Corporation 
 501 South 5th Street 
 Richmond, VA 23219-0501 

Attention: General Counsel 
 Facsimile: (804) 444-1000 
 with a copy to: 

Wachtell, Lipton, Rosen & Katz 

51 West 52nd Street 
 New York, NY 10019 
 Attention: Elliott V. Stein 

Gregory E. Ostling 
 Facsimile: (212) 403-2000 
 if to the Company after the Effective Time or to
Spinco after the Business Transfer Time: 
 ACCO Brands Corporation 

300 Tower Parkway 
 Lincolnshire, IL 60049 
 Attention: General Counsel 

Facsimile No.: (847) 484-4144 
 with a copy to: 
 Vedder Price P.C. 

222 North La Salle Street 
 Suite 2600 
 Chicago, Illinois 60601 

Attention: Robert F. Simon 
 Thomas G. Hancuch 
 Facsimile: (312) 609-5005 

9.5 Incorporation of Separation Agreement Provisions. The following provisions of the Separation Agreement are hereby incorporated
herein by reference, and unless otherwise expressly specified herein, such provisions shall apply as if fully set forth herein mutatis mutandis (references in this Section 9.5 to an “Article” or “Section” shall mean
Articles or Sections of the Separation Agreement, and references in the material incorporated herein by reference shall be references to the Separation Agreement): Article IV (relating to Mutual Releases and Indemnification); Section 5.1
(relating to Further Assurances); Section 5.2 (relating to Agreement for Exchange of Information); Section 5.3 (relating to Privileged Matters); and Article VI (relating to Miscellaneous). 

  
 -14-

 IN WITNESS WHEREOF, the Parties have caused this Employee Benefits Agreement to be duly
executed as of the day and year first above written. 
  

			
	MEADWESTVACO CORPORATION
		
	By:	 	/s/ E. Mark Rajkowski
		 	Name: E. Mark Rajkowski
		 	Title: Senior Vice President and Chief Financial Officer
	
	MONACO SPINCO INC.
		
	By:	 	/s/ E. Mark Rajkowski
		 	Name: E. Mark Rajkowski
		 	Title: President
	
	ACCO BRANDS CORPORATION
		
	By:	 	/s/ Robert J. Keller
		 	Name: Robert J. Keller
		 	Title: Chairman and Chief Executive Officer

 [SIGNATURE PAGE TO EMPLOYEE BENEFITS AGREEMENT] 

  
 -15-

 Exhibit A 

 

	1.	MWV Consumer & Office Products, Alexander, PA and United Steelworkers International Union (USW), AFL-CIO, CLC Local 1442 

 

	2.	MeadWestvaco Consumer & Office Products, Sidney, NY and CWA Local 14164, Communication Workers of America, Sidney, NY 

 Exhibit B 

 

	1.	Hilroy, MeadWestvaco Canada L.P. and Communications Energy and Paperworkers’ Union and Local 1144 

 

	2.	Tilibra Collective Bargaining Agreement: Convencao Coletiva De TrabalhoCommitment Letter

 Exhibit 10.5 
 EXECUTION COPY 
  

					
	 BARCLAYS CAPITAL
 745 Seventh Avenue
 New York, New York 10019
	  	 MERRILL LYNCH, PIERCE,
 FENNER & SMITHIN
 CORPORATED

BANK OF AMERICA, N.A.
 One Bryant Park
 New York, New York 10036
	  	 BANK OF MONTREAL
 BMO CAPITAL
 MARKETS

115 South LaSalle Street
 Chicago, IL 60603

			
		  	 SUNTRUST BANK
 303 Peachtree Street, NE
 Atlanta, GA 30308
	  	

 PERSONAL AND CONFIDENTIAL 
 January 13, 2012 
 ACCO Brands Corporation 

300 Tower Parkway 
 Lincolnshire, IL
60049 
 Attention: General Counsel  
 Second Amended and Restated Commitment Letter (Acco) 
 Ladies and Gentlemen:

 This second amended and restated commitment letter (together with Exhibits A, B, C and D hereto, the “Commitment Letter”)
amends, restates and supersedes that certain amended and restated commitment letter dated as of December 13, 2011 (the “Original Commitment Letter”) from Barclays Capital (“Barclays Capital”), the investment
banking division of Barclays Bank PLC (“Barclays Bank” and, together with Barclays Capital, “Barclays”), Bank of America, N.A. (“Bank of America”), Merrill Lynch, Pierce, Fenner & Smith
Incorporated (“MLPFS”) and Bank of Montreal (“BMO”) to ACCO Brands Corporation (the “Acquiror”, “Augusta” or “you”). You have advised Barclays, Bank of America,
MLPFS, BMO and SunTrust Bank (“SunTrust” and, together with Barclays, Bank of America, MLPFS and BMO, the “Commitment Parties”, “we” or “us”), that you intend to acquire the SpinCo
Business by merger (the “Merger”) of a newly formed subsidiary of Acquiror (“Merger Sub”) with and into a subsidiary of MeadWestvaco Corporation (the “Seller”) formed to hold the SpinCo Business
(the “SpinCo Borrower”) immediately following the distribution of the stock of the SpinCo Borrower (the “Spin”) by the Seller to its stockholders, all as more fully described in the transaction description attached
hereto as Exhibit A (the “Transaction Description”), and in connection therewith, you and the SpinCo Borrower intend to consummate the Transactions referred to in the Transaction Description. Capitalized terms used but not defined
herein have the meaning assigned to them in the Transaction Description, the Summary of Principal Terms and Conditions of the ABL Loans attached hereto as Exhibit B (the “ABL Term Sheet”), the Summary of Principal Terms and
Conditions of the Term Loans attached hereto as Exhibit C (the “Term Loan Term Sheet”) and the conditions precedent set forth in Exhibit D. 
 You have also advised us that, in connection with the Transactions and subject to the conditions set forth in this Commitment Letter, (i) the Borrower will obtain up to $175.0 million in commitments
under a senior secured asset-based revolving credit facility having the terms set forth in Exhibit B (the “ABL Facility”) or, alternatively, will enter into the Amended Existing ABL Facility (as defined in Exhibit B) and
(ii) the Borrower will borrow up to $480.0 million in aggregate principal amount of senior secured term loans having the terms set forth in Exhibit C (the “Term Facility” and, together with the ABL Facility, the
“Facilities”). 

  
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 ACCO Brands Corporation 
  

 This Commitment Letter supersedes the Original Commitment Letter in full and, upon execution of this
Commitment Letter, the Original Commitment Letter will no longer have any force or effect. 
  

	1.	Commitments and Agency Roles  

 You hereby
appoint Barclays Bank to act, and Barclays Bank hereby agrees to act, as sole and exclusive administrative agent (in such capacity for each facility, the “Administrative Agent” for such facility) for each of the Facilities and, with
respect to the Term Facility, the collateral agent (in such capacity, the “Term Collateral Agent”). You hereby appoint each of Barclays Bank and Bank of America to act, and each of Barclays Bank and Bank of America hereby agree to
act, as co-collateral agents (in such capacity, the “Co-Collateral Agents”) for the ABL Facility. You hereby appoint each of Barclays Capital, MLPFS and Bank of Montreal, acting under its trade name BMO Capital Markets (“BMO
Capital”), to act, and each of Barclays Capital, MLPFS and BMO Capital hereby agree to act, as joint lead arrangers and joint bookrunners (in such capacities, the “Arrangers”) for each of the Facilities. Each of the
Arrangers, the Term Collateral Agent, the Co-Collateral Agents, the Funding Agent (as defined in Exhibit B), the Documentation Agent (as defined in Exhibit C), the Co-Syndication Agents (as defined in Exhibit C) and the Administrative Agent will
have the rights and authority customarily given to financial institutions in such roles. In connection with the Transactions contemplated hereby, (i) Barclays is pleased to advise you of its commitment to provide 56.5% of the aggregate
principal amount of the Term Facility and 60% of the aggregate principal amount of the ABL Facility, (ii) Bank of America is pleased to advise you of its commitment to provide 25% of the aggregate principal amount of each of the Facilities,
(iii) BMO is pleased to advise you of its commitment to provide 15% of the aggregate principal amount of each of the Facilities and (iv) SunTrust is pleased to advise you of its commitment to provide 3.5% of the aggregate principal amount
of the Term Facility, in each case on the terms and subject to the conditions set forth in this Commitment Letter and the Fee Letter (as defined below). The commitments of each Commitment Party are several and not joint. 

Our fees for services related to the Facilities are set forth in a separate fee letter (the “Fee Letter”) between you and us entered
into on the date hereof. As consideration for the execution and delivery of this Commitment Letter by us, you agree to pay the fees and expenses set forth in Exhibits B and C and in the Fee Letter as and when payable in accordance with the terms
hereof and thereof. You agree that no other titles will be awarded and no compensation will be paid (other than as expressly contemplated by this Commitment Letter and the Fee Letter) in connection with the Facilities unless you and we shall so
agree; provided, however, that Barclays Capital will be the Lead Arranger and will have “lead left” placement on all marketing materials related to the Facilities and will perform the duties and exercise the authority
customarily performed and exercised by them in such role, including acting as sole manager of the physical books. 
  

	2.	Conditions Precedent  

 Our commitments
hereunder and our agreements to perform the services described herein are subject only to the following conditions: (i) there shall not have occurred, since December 31, 2010, a Material Adverse Effect on the C&OP Business (as defined
in the Separation Agreement), (ii) the conditions set forth under the caption “Conditions Precedent to Initial Borrowing” in Exhibit B, (iii) the conditions set forth under the caption “Conditions Precedent to
Borrowing” in Exhibit C and (iv) the conditions set forth in Exhibit D. For purposes hereof, a “Material Adverse Effect” means any change, development, event, occurrence, effect or state of facts that, individually or in the
aggregate with all such other changes, developments, events, occurrences, effects or states of facts is, or is reasonably likely to be, materially 

  
 2 

 January 13, 2012 
 ACCO Brands Corporation 
  

 
adverse to the business, financial condition or results of operations of the C&OP Business (as defined in the Separation Agreement); provided that none of the following shall be deemed either
alone or in combination to constitute, or be taken into account in determining whether there has been, or is reasonably likely to be, a material adverse effect: any change, development, event, occurrence, effect or state of facts arising out of or
resulting from (i) capital market conditions generally or general economic conditions, including with respect to interest rates or currency exchange rates, (ii) geopolitical conditions or any outbreak or escalation of hostilities, acts of
war or terrorism occurring after the date of this Commitment Letter, (iii) any hurricane, tornado, flood, earthquake or other natural disaster occurring after the date of this Commitment Letter, (iv) any change in applicable laws or
generally accepted accounting principles (or authoritative interpretation thereof) which is proposed, approved or enacted after the date of this Commitment Letter, (v) general conditions in the industries in which the C&OP Business
operates, (vi) the announcement and pendency of the Merger Agreement and the transactions contemplated thereby, including any lawsuit in respect thereof, compliance with the covenants or agreements contained therein, and any loss of or change
in relationship with any customer, supplier, distributor, or other business partner, or departure of any employee or officer, of the C&OP Business, and (vii) any Excluded Asset (as defined in the Merger Agreement) or Excluded Liability (as
defined in the Merger Agreement), except, in the cases of clauses (i) and (v), to the extent that such change, development, event, occurrence, effect or state of facts has a materially disproportionate effect on the C&OP Business, as
compared with other participants in the industries in which the C&OP Business operates (in which case the incremental disproportionate impact or impacts may be deemed either alone or in combination to constitute, or be taken into account in
determining whether there has been, or is reasonably likely to be, a Material Adverse Effect). 
 Notwithstanding anything in this Commitment
Letter, the Fee Letter, the Loan Documents (as defined in Exhibit D) or any other letter agreement or other undertaking between you and us concerning the financing of the Transactions to the contrary, (i) the only representations the accuracy
of which will be a condition to the availability of the Facilities on the Closing Date will be (a) the representations made by or with respect to the SpinCo Business in the Merger Agreement (but only to the extent that the breach of such
representations and warranties would permit Augusta (or its applicable affiliate) not to close the Merger as a result of a failure of such representation and warranty in the Merger Agreement to be true and correct) and (b) the Specified
Representations (as defined below) and (ii) the terms of the Loan Documents will be in a form such that they do not impair the availability of the Facilities on the Closing Date if all conditions expressly set forth in this Commitment Letter
are satisfied (it being understood that, to the extent that a security interest in any collateral is not or can not be created or perfected on the Closing Date (other than (i) to the extent that a lien on such collateral may under applicable
law be created upon closing by the execution and delivery of a customary personal property security agreement, (ii) to the extent that a lien on such collateral may under applicable law be perfected upon closing by the filing of financing
statements under the Uniform Commercial Code or by filings with the United States Patent and Trademark Office or the United Stated Copyright Office and (iii) the perfection of security interests in the capital stock of Borrower’s domestic
subsidiaries with respect to which a lien may be perfected upon closing by delivery of certificated securities) after your commercially reasonable efforts to do so or without undue burden or expense, then the creation or perfection, as the case may
be, of such security interest shall not constitute a condition precedent to the Facilities on the Closing Date but shall be required to be accomplished under the Facilities within 90 days (or such longer period as the Administrative Agent may agree)
after the Closing Date pursuant to arrangements to be mutually agreed); provided, however, that nothing in the preceding clause (ii) shall be construed to limit the individual conditions expressly set forth in Exhibit D. For
purposes hereof, “Specified Representations” means the representations and warranties referred to in each of Exhibit B and Exhibit C relating to organization; requisite power and authority (as they relate to due authorization,
execution, delivery and performance of the Loan Documents); qualification; due authorization, execution and delivery and enforceability of the Loan Documents; no conflicts of the Loan Documents with organizational documents or applicable law;

  
 3 

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 ACCO Brands Corporation 
  

 
binding obligation; Investment Company Act; Federal Reserve margin stock regulations; solvency as of the Closing Date (after giving effect to the Transactions) of Augusta, the Borrower and its
subsidiaries on a consolidated basis; senior indebtedness; Patriot Act, OFAC and other similar money laundering or anti-terrorism laws; and security documents (subject to exceptions set forth in this paragraph and the Term Sheets and permitted liens
to be agreed). 
  

	3.	Syndication  

 The Arrangers intend and
reserve the right to syndicate the Facilities to the Lenders (as such term is defined in each of Exhibit B and Exhibit C); provided that, unless otherwise agreed by you, no assignment prior to the Closing Date will reduce or release any
Commitment Party’s obligation to fund its commitment in the event any assignee shall fail to do so on the Closing Date. The Arrangers will lead the syndication, including determining the timing of all offers to prospective Lenders, any title of
agent or similar designations or roles awarded to any Lender and the acceptance of commitments, the amounts offered and the compensation provided to each Lender from the amounts to be paid to the Arrangers pursuant to the terms of this Commitment
Letter and the Fee Letter, and will in consultation with you determine the final commitment allocations. You agree to use commercially reasonable efforts to ensure that the Arrangers’ syndication efforts benefit from existing lending and
investment banking relationships of the SpinCo Borrower and you. To facilitate an orderly and successful syndication of the Facilities, you agree that, until the earlier of (a) a Successful Syndication (as defined in the Fee Letter) and
(b) 90 days following the Closing Date, you will not, and agree to use commercially reasonable efforts to ensure that the SpinCo Borrower will not, syndicate or issue, attempt to syndicate or issue, announce or authorize the announcement of the
syndication or issuance of any bank financings or any debt security of you or the SpinCo Borrower or any of your or its respective subsidiaries, including any renewal or refinancing of any existing bank financing or debt security (other than the
Term Facility, the SpinCo Notes, the Exchange Loans, the Amended Existing ABL Facility, the financings covered within the scope of the SpinCo Commitment Letter (as defined in Exhibit A) and any bank loan financing covered within the scope of the
Engagement Letter (as defined in Exhibit A)), in each case that could reasonably be expected to materially impair the primary syndication of the Facilities or the offering of the SpinCo Notes (as determined by the Arrangers). 

You agree to, and agree to use commercially reasonable efforts to obtain contractual undertakings from the SpinCo Borrower to, cooperate with, and
provide information reasonably required by, the Arrangers in connection with all syndication efforts, including: (i) assisting in the preparation by the Borrower, as soon as practicable after the date of this Commitment Letter, of a
confidential information memorandum for the Facilities customary for transactions of this type and other customary presentation materials (including lender presentations) to be used in connection with the syndication (collectively,
“Facilities Marketing Materials”) reasonably acceptable in form and content to the Arrangers regarding the business, operations, financial projections and prospects of the SpinCo Business and Augusta (including the financial
information and projections described in Exhibit D) including without limitation the delivery of all information relating to the Transactions prepared by or on behalf of the Borrower and the SpinCo Borrower that the Arrangers deem reasonably
necessary to complete the syndication of the Facilities and a confidential information memorandum acceptable in format and content to the Arrangers for use in bank meetings and other communications with prospective Lenders in connection with the
syndication of the Facilities; (ii) using commercially reasonable efforts to obtain, and your using commercially reasonable efforts to cause the SpinCo Borrower to assist in obtaining, from Moody’s Investor Service, Inc.
(“Moody’s”) and Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business (“S&P”), prior to the launch of the general syndication, a corporate
family rating and a credit rating for the Facilities (the “Debt Ratings”); (iii) arranging for direct communications with prospective Lenders in connection with the syndication of the Facilities (including without limitation
direct contact between appropriate senior management, representatives and advisors of the Borrower and the Seller (and 

  
 4 

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 ACCO Brands Corporation 
  

 
using commercially reasonable efforts to cause direct contact with appropriate senior management, representatives and advisors of the SpinCo Borrower) and participation of such persons in such
meetings), in all cases at times mutually agreed upon; and (iv) hosting (including any preparations with respect thereto) with the Arranger at places and times reasonably requested by the Arrangers one or more meetings (or, if you and we shall
agree, conference calls in lieu of any such meetings) with prospective Lenders. You agree that the Arrangers have the right to place advertisements in financial and other newspapers at their own expense describing their services to you and the
SpinCo Borrower. 
 You will be solely responsible for the contents of the Facilities Marketing Materials and all other information,
documentation or other materials delivered to us in connection therewith and you acknowledge that we will be using and relying upon such information without independent verification thereof. 
 You understand that certain prospective Lenders (such Lenders, “Public Lenders”) may have personnel that do not wish to receive MNPI (as defined below). At the Arrangers’ request,
you agree to assist in the preparation of an additional version of the Facilities Marketing Materials that does not contain material non-public information concerning the Seller, the Borrower, the SpinCo Borrower or their respective subsidiaries or
affiliates or their respective securities (collectively, “MNPI”) which is suitable to make available to Public Lenders. You acknowledge and agree that the following documents may be distributed to Public Lenders (except to the
extent the SpinCo Borrower or you notify us to the contrary and provided that the SpinCo Borrower and you shall have been given a reasonable opportunity to review such documents and comply with the U.S. Securities and Exchange Commission disclosure
requirements): (a) drafts and final versions of the Loan Documents; (b) administrative materials prepared by the Arrangers or the Administrative Agent for prospective Lenders (including without limitation a lender meeting invitation,
allocations and funding and closing memoranda); and (c) term sheets and notification of changes in the terms and conditions of the Facilities. Before distribution of any Facilities Marketing Materials in connection with the syndication of the
Facilities (i) to prospective Lenders that are not Public Lenders, you will provide us with a customary letter authorizing the dissemination of such materials and (ii) to prospective Public Lenders, you will provide us with a customary
letter authorizing the dissemination of information that does not contain MNPI (the “Public Information Materials”) to Public Lenders and confirming the absence of MNPI therein. In addition, at the Arrangers’ request, you will
identify Public Information Materials by marking the same as “PUBLIC” (it being understood that you shall not otherwise be under any obligation to mark information as “PUBLIC”) and you and we agree that any information and
projections that are not specifically identified as “PUBLIC” shall be deemed as being suitable only for dissemination to prospective Lenders who wish to receive MNPI in connection with the syndication of the Facilities. 

It is agreed that the completion of the Successful Syndication (as defined in the Fee Letter) of the Facilities prior to the initial funding under the
Facilities will not be a condition to the Commitment Parties’ commitments hereunder. 
  

	4.	Information 

 You represent, warrant and
covenant (with respect to information provided by the SpinCo Borrower and its representatives, to your knowledge) that (i) all written information (other than projections and other forward-looking information and information of a general
economic or industry-specific nature) that has been or will be provided by or on behalf of you, the SpinCo Borrower or any of your or its representatives to the Arrangers, the Commitment Parties, the Lenders or any of their respective affiliates in
connection with the Transactions, when taken as a whole, is and will be, when furnished, complete and correct in all material respects and does not and will not, when taken as a whole, when furnished, contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements contained 

  
 5 

 January 13, 2012 
 ACCO Brands Corporation 
  

 
therein not misleading in the light of the circumstances under which such statements are made (after giving effect to all supplements and updates thereto from time to time) and (ii) the
financial projections and other forward-looking information that have been or will be made available directly or indirectly by or on behalf of you, the SpinCo Borrower or any of your or its representatives to the Arrangers, the Commitment Parties,
the Lenders or any of their respective affiliates have been and will be prepared in good faith based upon assumptions that are believed by the preparer thereof to be reasonable when furnished (it being agreed by the Arrangers, the Commitment
Parties, the Lenders and any of your or their respective affiliates relying on this provision, that such projections and forward-looking information are not to be viewed as facts and are subject to significant uncertainties and contingencies many of
which are beyond your control, that no assurance can be given that any particular projection or forward-looking information will be realized, that actual results may differ and that such differences may be material). You agree that if at any time
prior to the Closing Date any of the representations in the preceding sentence would be incorrect in any material respect if the information and projections were being furnished, and such representations were being made, at such time, then you will
promptly supplement, or cause to be supplemented, the information and projections so that such representations will be correct in all material respects in the light of the circumstances in which such statements are made. You understand that in
providing our services pursuant to this Commitment Letter we may use and rely on the information and projections without independent verification thereof. 
  

	5.	Indemnification 

 To induce us to enter
into this Commitment Letter and the Fee Letter and to proceed with the documentation of the Facilities, you hereby agree to indemnify and hold harmless the Administrative Agents, the Term Collateral Agent, the Co-Collateral Agents, the Arrangers and
each other agent or co-agent (if any) designated pursuant to the terms hereof, each Lender (including any Commitment Party) and their respective affiliates and each partner, trustee, shareholder, director, officer, employee, advisor, representative,
agent, attorney and controlling person thereof (each of the above, an “Indemnified Person”) from and against any and all actions, suits, proceedings (including any investigations), claims, losses, damages, liabilities or expenses
(including legal expenses as set forth below), joint or several, of any kind or nature whatsoever that may be brought or threatened by you, the SpinCo Borrower, the Guarantors (as defined in Exhibit A), any of their respective affiliates or any
other person or entity and which may be incurred by or asserted against or involve any Indemnified Person (whether or not any Indemnified Person is a party to such action, suit, proceeding or claim) as a result of or arising out of or in any way
related to or resulting from the Merger, this Commitment Letter, the Fee Letter, the Facilities, the Transactions or any related transaction contemplated hereby or thereby or any use or intended use of the proceeds of the Facilities, and to
reimburse each Indemnified Person within 30 days of a written demand therefor, together with reasonable backup documentation supporting such reimbursement request (but limited, in the case of legal fees and expenses, to the reasonable and documented
fees, disbursements and other charges of one counsel to such Indemnified Persons taken as a whole and, solely in the case of a conflict of interest, one additional counsel to all affected Indemnified Persons taken as a whole (and, if reasonably
necessary, of one local counsel in any relevant jurisdiction and of one special counsel to all such persons, taken as a whole and, solely in the case of a conflict of interest, additional local and special counsel to all similarly affected
Indemnified Persons taken as a whole); provided that you will not have to indemnify an Indemnified Person against any action, suit, proceeding, investigation, claim, loss, damage, liability or expense (x) to the extent the same resulted
from the gross negligence or willful misconduct of such Indemnified Person or a material breach in bad faith by such Indemnified Person of its obligations under this Commitment Letter or the Fee Letter (in each case, to the extent determined by a
court of competent jurisdiction in a final and non-appealable judgment) or (y) if such dispute is solely between Indemnified Parties or their respective affiliates, directors, officers, employees, agents or controlling persons and arises out
of, or in connection with, any action, suit, proceeding or claim that does not involve an act or omission by you or any of your affiliates other than any action, suit, proceeding or claim 

  
 6 

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 ACCO Brands Corporation 
  

 
against any Indemnified Person in its capacity or in fulfilling its role as an agent, arranger or similar role under the ABL Facility or the Term Loan Facility. Notwithstanding any other
provision of this Commitment Letter, no Indemnified Person will be responsible or liable to you or any other person or entity for damages arising from the use by others of any information or other materials obtained through internet, electronic,
telecommunications or other information transmission systems (except to the extent the same resulted from the gross negligence or willful misconduct of such Indemnified Person or a material breach in bad faith by such Indemnified Person of its
obligations under this Commitment Letter or the Fee Letter (in each case, to the extent determined by a court of competent jurisdiction in a final and non-appealable judgment)). 
 Your indemnity and reimbursement obligations under this Section 5 will be in addition to any liability which you may otherwise have and will be binding upon and inure to the benefit of the
successors, assigns, heirs and personal representatives of you and the Indemnified Persons. 
 None of us, the Indemnified Persons, you, the
SpinCo Borrower, or any of your or its affiliates or Representatives (as defined below) will be responsible or liable to any other person or entity for any indirect, special, punitive or consequential damages that may be alleged as a result of the
Merger, this Commitment Letter, the Fee Letter, the Facilities or the Transactions; provided that nothing contained in this sentence shall limit your indemnification obligations to the extent set forth above. 

 

	6.	Assignments 

 This Commitment Letter may
not be assigned by you without the prior written consent of the Arrangers (and any purported assignment without such consent will be null and void), is intended to be solely for the benefit of the parties hereto and any Indemnified Person and is not
intended to confer any benefits upon, or create any rights in favor of, any person (including your equity holders, employees or creditors) other than the parties hereto (and any Indemnified Person). Each Commitment Party may assign its commitments
and agreements hereunder, in whole or in part, to any of its affiliates, additional Arrangers or any Lender (including without limitation as provided in Section 3 above); provided that that we will not be relieved of our obligations set
forth in this Commitment Letter to fund that portion of the commitments so assigned in connection with any syndication or assignment to any potential Lender made prior to the Closing Date unless such syndication or assignment is to a financial
institution you have identified to us on or prior to the date hereof as a permitted lender (each, a “Permitted Lender”) and such Permitted Lender has executed a joinder to this Commitment Letter in a form reasonably acceptable to
you or you have otherwise consented to such syndication or assignment in writing. This Commitment Letter may not be amended or any term or provision hereof waived or modified except by an agreement in writing signed by each of the parties hereto.

  

	7.	USA PATRIOT Act Notification 

 The
Administrative Agent notifies you that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (as amended, supplemented or modified from time to time, the “Patriot
Act”) it and each Lender may be required to obtain, verify and record information that identifies the Seller, the SpinCo Borrower, Merger Sub, the Borrower and the Guarantors, including the name and address of each such Person and other
information that will allow the Administrative Agent and each Lender to identify the Seller, the SpinCo Borrower, Merger Sub, the Borrower and the Guarantors in accordance with the Patriot Act and other applicable “know your customer” and
anti-money laundering rules and regulations. This notice is given in accordance with the requirements of the Patriot Act and is effective for the Administrative Agent and each Lender. 

  
 7 

 January 13, 2012 
 ACCO Brands Corporation 
  

	8.	Sharing Information; Affiliate Activities; Absence of Fiduciary Relationship 

 Please note that this Commitment Letter, the Fee Letter may not be disclosed to any other person or entity or circulated or referred to publicly without our prior written consent except, after providing
written notice to the Commitment Parties and with appropriate permitted redactions as reasonably requested by the Commitment Parties, pursuant to applicable law or compulsory legal process, including, without limitation, a subpoena or order issued
by a court of competent jurisdiction or by a judicial, administrative or legislative body or committee; provided that we hereby consent to your disclosure of (i) this Commitment Letter and the Fee Letter and such communications to your
officers, directors, agents, employees, attorneys, independent auditors, representatives, professionals and advisors (collectively, the “Representatives”) in each case on a confidential and “need to know” basis and who are
directly involved in the consideration of the Facilities to the extent you notify such persons of their obligation to keep this Commitment Letter, the Fee Letter and such communications confidential and such persons agree to hold the same in
confidence, (ii) this Commitment Letter, the Fee Letter or the information contained herein or therein to Augusta and its Representatives in each case on a confidential and “need to know” basis and who are directly involved in the
consideration of the Facilities to the extent you notify such persons of their obligation to keep this Commitment Letter and the Fee Letter and the information contained herein and therein confidential and such persons agree to hold the same in
confidence and (iii) this Commitment Letter or the information contained herein (but not the Fee Letter or the information contained therein, other than a version of the Fee Letter redacted in a manner reasonably satisfactory to the Arrangers,
it being acknowledged that the fees in the Fee Letter shall be reflected in projections and pro forma information and a generic disclosure of aggregate sources and uses) in any public filing required as party of the Merger and the syndication, and
to any ratings agency on a confidential basis. 
 We shall use all nonpublic information received by us in connection with the Transactions
solely for the purposes of providing the services that are the subject of this Commitment Letter, the Fee Letter, and the transactions contemplated hereby and thereby, and shall treat confidentially all such information; provided,
however, that nothing herein shall prevent us from disclosing any such information (i) to any Lenders or participants or prospective Lenders or participants, (ii) to any hedge provider or prospective hedge provider (collectively,
“Specified Counterparties”), (iii) in any legal, judicial, administrative proceeding or other process or otherwise as required by applicable law or regulations (in which case we shall promptly notify you, in advance, to the
extent practicable and permitted by law), (iv) upon the request or demand of any regulatory authority having jurisdiction over such Commitment Party or its affiliates (in which case such Commitment Party shall, except with respect to any audit
or examination conducted by bank accountants or any governmental bank regulatory authority exercising examination or regulatory authority, give you notice thereof to the extent practicable and lawfully permitted to do so), (v) to the
Representatives of such Commitment Party who are informed of the confidential nature of such information, (vi) to any of our respective affiliates solely in connection with the Transactions (provided that such information shall be provided on
confidential basis), (vii) to the extent any such information becomes publicly available other than by reason of disclosure by such Commitment Party, its affiliates or Representatives in breach of this Commitment Letter, (viii) for
purposes of establishing a “due diligence” or other similar defense and (ix) for purposes of enforcing the rights of the Commitment Parties under this Commitment Letter; provided that the disclosure of any such information to any
Lenders or prospective Lenders or participants or prospective participants or Specified Counterparties referred to above shall be made subject to the acknowledgment and acceptance by such Lender or prospective Lender or participant or prospective
participant or Specified Counterparty that such information is being disseminated on a confidential basis in accordance with the standard syndication processes of such Commitment Party or customary market standards for dissemination of such types of
information. The obligations of the Commitment Parties under this paragraph shall remain in effect until the earlier of (x) two years from the date hereof and (y) the date the Loan Documents are entered into, at which time any
confidentiality undertaking in the Loan Documents shall supersede the provisions of this paragraph. 

  
 8 

 January 13, 2012 
 ACCO Brands Corporation 
  

 You acknowledge that the Commitment Parties and their respective affiliates are full service securities
firms and as such may from time to time effect transactions, for their own account or the account of customers, and may hold positions in securities or indebtedness, or options thereon, of the Seller, the SpinCo Borrower and other companies that may
be the subject of the Transactions and may act with respect to any such entities in such other capacities to which it is appointed. The Commitment Parties and their respective affiliates will have economic interests that are different from or
conflict with those of the Borrower and the Seller regarding the transactions contemplated by this Commitment Letter and the Fee Letter, and you acknowledge and agree that none of the Commitment Parties have an obligation to disclose such interests
to you. You further acknowledge and agree that nothing in this Commitment Letter, the Fee Letter or the nature of our services or in any prior relationship will be deemed to create an advisory, fiduciary or agency relationship between us, on the one
hand, and you, your equity holders or your affiliates, on the other hand, and you waive, to the fullest extent permitted by law, any claims you may have against the Commitment Parties for breach of fiduciary duty or alleged breach of fiduciary duty
and agree that none of the Commitment Parties will have liability (whether direct or indirect) to you in respect of such a fiduciary duty claim or to any person asserting a fiduciary duty claim on your behalf, including your equity holders,
employees or creditors. You acknowledge that the Transactions (including the exercise of rights and remedies hereunder and under the Fee Letter) are arms’ length commercial transactions and that we are acting as principal and in our own best
interests. You are relying on your own experts and advisors to determine whether the Transactions are in your best interests and are capable of evaluating and understanding, and you understand and accept, the terms, risks and conditions of the
transactions contemplated this Commitment Letter and the Fee Letter. In addition, you acknowledge that we may employ the services of our affiliates in providing certain services hereunder and may exchange with such affiliates information concerning
you, the SpinCo Borrower and other companies that may be the subject of the Transactions and such affiliates will be entitled to the benefits afforded to us hereunder. In addition, please note that Barclays Capital Inc. has been retained by Augusta
as financial advisor (in such capacity, the “Financial Advisor”) to Augusta in connection with the Merger. You agree to such retention, and further agree not to assert any claim you might allege based on any actual or potential conflicts
of interest that might be asserted to arise or result from, on the one hand, the engagement of the Financial Advisor, and on the other hand, our and our affiliates’ relationships with you as described and referred to herein. 

Consistent with our policies to hold in confidence the affairs of our customers, we will not use or disclose confidential information obtained from you
by virtue of the Transactions in connection with our performance of services for any of our other customers (other than as permitted to be disclosed under this Section 8). Furthermore, you acknowledge that neither we nor any of our affiliates
have an obligation to use in connection with the Transactions, or to furnish to you, confidential information obtained or that may be obtained by us from any other person. 
 Please note that neither the Arrangers nor their respective its affiliates provide tax, accounting or legal advice. 
  

	9.	Waiver of Jury Trial; Governing Law; Submission to Jurisdiction; Surviving Provisions 

 ANY RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY ACTION, SUIT, PROCEEDING OR CLAIM ARISING IN CONNECTION WITH OR AS A RESULT OF ANY MATTER REFERRED TO IN THIS COMMITMENT LETTER OR THE FEE LETTER IS
HEREBY IRREVOCABLY WAIVED BY THE PARTIES HERETO. THIS COMMITMENT LETTER, THE FEE LETTER AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY 

  
 9 

 January 13, 2012 
 ACCO Brands Corporation 
  

 
LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. Each of the parties hereto hereby irrevocably (i) submits, for itself and its property, to the exclusive jurisdiction of (a) the
Supreme Court of the State of New York, New York County, located in the Borough of Manhattan, and (b) the United States District Court for the Southern District of New York and any appellate court from any such court, in any action, suit,
proceeding or claim arising out of or relating to this Commitment Letter, the Fee Letter or the Transactions or the performance of services contemplated hereunder or under the Fee Letter, or for recognition or enforcement of any judgment, and agrees
that all claims in respect of any such action, suit, proceeding or claim may be heard and determined in such New York State court or such Federal court, (ii) waives, to the fullest extent permitted by law, any objection that it may now or
hereafter have to the laying of venue of any action, suit, proceeding or claim arising out of or relating to this Commitment Letter, the Fee Letter, the Transactions or the performance of services contemplated hereunder or under the Fee Letter in
any such New York State or, to the extent permitted by law, Federal court and (iii) waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of any such action, suit, proceeding or claim in any
such court. Each of the parties hereto agrees to commence any such action, suit, proceeding or claim either in the United States District Court for the Southern District of New York or in the Supreme Court of the State of New York, New York County
located in the Borough of Manhattan. 
 This Commitment Letter is issued for your benefit only and no other person or entity (other than the
parties hereto and the Indemnified Persons) may rely hereon. 
 The provisions of Sections 3, 5, 8 and this Section 9 of this Commitment
Letter will survive any termination or completion of the arrangements contemplated by this Commitment Letter or the Fee Letter, including without limitation whether or not the Loan Documents are executed and delivered and whether or not the
Facilities are made available or any loans under the Facilities are disbursed; provided, however, that, to the extent applicable, your obligations under this Commitment Letter, other than those relating to confidentiality and to the syndication of
the Facilities, shall automatically terminate and be superseded by the corresponding provisions of the Loan Documents upon the effectiveness thereof. 
  

	10.	Termination; Acceptance 

 Our commitments
hereunder and our agreements to provide the services described herein will terminate upon the first to occur of (i) receipt by each Commitment Party of written notice of termination from you, (ii) the consummation of the Merger,
(iii) the abandonment or termination of the definitive documentation for the Merger and the Spin, including the Merger Agreement and the Separation Agreement and (iv) June 30, 2012 (the earliest of such dates to occur, the
“Termination Date”), unless the closing of the Facilities has been consummated on or before such date on the terms and subject to the conditions set forth herein; provided, however, that, if the Merger has not been
consummated on or before the Termination Date, then the Termination Date contemplated by clause (iv) shall automatically be extended to August 31, 2012. 
 This Commitment Letter may be executed in any number of counterparts, each of which when executed will be an original and all of which, when taken together, will constitute one agreement. Delivery of an
executed counterpart of a signature page of this Commitment Letter by facsimile or other electronic transmission will be as effective as delivery of a manually executed counterpart hereof. 
 Please confirm that the foregoing is in accordance with your understanding by signing and returning to the Arrangers the enclosed copy of this Commitment Letter, together, if not previously executed and
delivered, with the Fee Letter, the SpinCo Commitment Letter and the SpinCo Fee Letter on or before the close of business on January 13, 2012, whereupon this Commitment Letter and the Fee Letter will

  
 10 

 January 13, 2012 
 ACCO Brands Corporation 
  

 
become binding agreements between us. If not signed and returned as described in the preceding sentence by such date, this offer will terminate on such date. 

[The remainder of this page is intentionally left blank.] 

  
 11 

 We look forward to working with you on this assignment. 

 

			
	Very truly yours,
	
	BARCLAYS BANK PLC
		
	By:	 	/s/     Ian Palmer
		 	Name: Ian Palmer
		 	Title: Managing Director

 Signature Page to Augusta Commitment Letter 

  

			
	BANK OF AMERICA, NA.
		
	By	 	/s/    Heather Lamberton
	Name:	 	Heather Lamberton
	Title:	 	Managing Director

  

			
	MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
		
	By	 	/s/    Heather Lamberton
	Name:	 	Heather Lamberton
	Title:	 	Managing Director

 Signature Page to Augusta Commitment Letter 

  

			
	BANK OF MONTREAL
		
	By	 	/s/    Eric A. Schubert
	Name:	 	Eric A. Schubert
	Title:	 	Managing Director

 Signature Page to Augusta Commitment Letter 

  

			
	SUNTRUST BANK
		
	By	 	/s/    Rich Wilson
	Name:	 	Rich Wilson
	Title:	 	Managing Director

 Signature Page to Augusta Commitment Letter 

 ACCEPTED AND AGREED TO AS OF THE DATE FIRST WRITTEN ABOVE: 

 

			
	ACCO BRANDS CORPORATION
		
	By:	 	/s/    Thomas P. O’Neil Jr.
		 	Name: Thomas P. O’Neil Jr.
		 	Title: Senior Vice President, Finance & Accounting

 Signature Page to Augusta Commitment Letter 

 Exhibit A 
 Transaction Description 
 All capitalized terms used but not defined in
this Exhibit A have the meanings assigned to them in the Commitment Letter to which this Transaction Description is attached, including Exhibits B and C thereto. 
 ACCO Brands Corporation (“Augusta” or the “Borrower”) intends to acquire the SpinCo Business (as defined in the Separation Agreement referred to below, the
“SpinCo Business”) of MeadWestvaco Corporation (the “Seller”) pursuant to a merger (the “Merger”) of a newly formed subsidiary of Augusta (the “Merger Sub”) with and into a
subsidiary of the Seller formed to hold the SpinCo Business (the “SpinCo Borrower”). 
 In connection with the
foregoing, it is intended that: 
  

	1.	The SpinCo Borrower will be established as a direct, wholly owned subsidiary of Seller. 

 

	2.	Seller will transfer the SpinCo Business to the SpinCo Borrower (the “Contribution”) pursuant to a separation agreement to be entered into among Seller
and the SpinCo Borrower (the “Separation Agreement”). 

  

	3.	In connection with the foregoing transactions, the SpinCo Borrower will (a) borrow $190.0 million pursuant to a senior secured term loan facility (the
“SpinCo Term Facility”) and (b) either (i) issue $270.0 million in aggregate principal amount of high yield securities of the SpinCo Borrower (the “SpinCo Notes”) or (ii) to the extent the SpinCo
Borrower does not issue the SpinCo Notes on the Closing Date, borrow $270.0 million in aggregate principal amount of unsecured senior loans of the SpinCo Borrower (the “Exchange Loans”) with the terms set forth in that certain
commitment letter dated as of the date hereof between the Commitment Parties and the Seller. Augusta will enter into (A) a commitment letter dated as of the date hereof (the “SpinCo Commitment Letter”), which will set forth the
terms of the SpinCo Term Facility, (B) an engagement letter dated as of the date hereof (the “Engagement Letter”), pursuant to which Augusta will engage certain financial institutions to act as sole underwriters, sole initial
purchasers and/or sole placement agents in connection with any public offering or private placement of the SpinCo Notes and (C) a fee letter dated as of the date hereof (the “SpinCo Fee Letter”), which will set forth certain fees
payable in connection with, and certain other matters with respect to, the SpinCo Term Facility. 

  

	4.	Upon or immediately following the Contribution, SpinCo Borrower will transfer to Seller and/or one or more of its affiliates, directly or indirectly, either
(a) $460.0 million in cash (the “Cash Dividend”) or (b) a combination of (i) $190.0 million in cash proceeds from the incurrence of the term loans under the SpinCo Term Facility and (ii) $270.0 million in
aggregate principal amount of the SpinCo Notes or, to the extent the SpinCo Borrower does not issue the SpinCo Notes on the Closing Date, $270.0 million in aggregate principal amount of the Exchange Loans. 

 

	5.	Seller will distribute the stock of SpinCo Borrower to Seller’s stockholders pursuant to the Spin contemplated by the Separation Agreement.

  

	6.	Pursuant to a merger agreement among Seller, SpinCo Borrower, Augusta and Merger Sub (including all exhibits and schedules thereto, the “Merger
Agreement”), immediately following the Contribution and the Spin, Merger Sub will merge with and into SpinCo Borrower, with SpinCo Borrower surviving as a wholly-owned subsidiary of Augusta. 

  
 Exhibit A-1

	7.	Augusta will (a) obtain $175.0 million in commitments under a senior secured asset-based revolving credit facility (the “ABL Facility”) on the
terms set forth in Exhibit B or (b) enter into the Amended Existing ABL Facility (as defined in Exhibit B) and $480.0 million in aggregate principal amount of senior secured term loans (the “Term Facility” and, together with
the ABL Facility, the “Facilities”) on the terms set forth in Exhibit C. 

  

	8.	Immediately upon the effectiveness of the Merger, (i) the Facilities will be guaranteed by the SpinCo Borrower and each guarantor of the SpinCo Term Facility
pursuant to documentation reasonably satisfactory to the Arrangers (the “SpinCo Guarantee Documentation”) and (ii) Augusta and each Guarantor will guarantee the SpinCo Term Facility. 

The transactions set forth above are referred to collectively as the “Transactions.” 

  
 Exhibit A-2

 Exhibit B 
 Summary of Terms and Conditions of the ABL Facility 
  

			
	 Borrowers:
	  	ACCO Brands Corporation (“Holdings”), each of the other Borrowers under Holdings’ existing ABL Credit Facility dated as of September 30, 2009, among
Holdings, each domestic subsidiary of Holdings party thereto (together with Holdings, the “U.S. Borrowers”), each Australian subsidiary of Holdings party thereto (the “Australian Borrowers”), each Canadian
subsidiary of Holdings party thereto (the “Canadian Borrowers”), each Dutch subsidiary of Holdings party thereto (the “Dutch Borrowers”), each U.K. subsidiary of Holdings party thereto (the “U.K.
Borrowers”), Deutsche Bank AG New York Branch, as Administrative Agent and the other financial institutions party thereto (the “Existing ABL Facility”), the SpinCo Business and certain additional subsidiaries of Holdings to
be mutually agreed (collectively, the “Borrowers”).
		
	 Guarantors:
	  	All obligations under the ABL Facility (as defined below), under any interest rate protection or other hedging arrangement (“Hedging Arrangements”) entered into
with an Agent, Arranger or Lender (as defined below) under the ABL Facility or any affiliate of any of the foregoing, in each case, as designated by Holdings (each, an “ABL Facility Lender Counterparty”) and under any cash
management arrangements (“Cash Management Arrangements”) entered into with an Agent, Arranger or Lender under the ABL Facility or any affiliate of any of the foregoing, in each case, as designated by Holdings (each, an “ABL
Facility Bank Product Provider”), will be unconditionally guaranteed (the “Guarantee”) by guarantors determined in a manner consistent with the Documentation Principles (defined below).
		
	 Joint Bookrunners

and Joint Lead Arrangers:
	  	Barclays Capital, MLPFS and BMO Capital will act as joint bookrunners and joint lead arrangers (in such capacities, the “Arrangers”) for the ABL Facility and will
perform the duties customarily associated with such roles.
		
	 Administrative Agent:
	  	Barclays Bank will act as sole and exclusive administrative agent (in such capacity, the “Administrative Agent”) for the Lenders and will perform the duties
customarily associated with such role.
		
	 Co-Collateral Agents and

Funding Agent:
	  	Barclays Bank and Bank of America will act as co-collateral agents (in such capacity, the “Co-Collateral Agents”) and Bank of America will act as funding agent for
the Lenders (in such capacity, the “Funding Agent” and, together with the Administrative Agent and the Co- Collateral Agents, the “Agents”) and will perform the duties customarily associated with such
roles.
		
	 Lenders:
	  	Barclays Bank, Bank of America, BMO and/or other banks, financial institutions and institutional lenders selected by the Arrangers and reasonably acceptable to Holdings (each, a
“Lender” and, collectively, the “Lenders”).

  
 Exhibit B-1

  

			
		
	 Purpose/Use of Proceeds:
	  	Amounts available under the ABL Facility will be used to provide for the ongoing working capital requirements of the Borrowers and their respective subsidiaries following the
Acquisition and for general corporate purposes.
		
	 Amount of ABL Facility:
	  	 A non-amortizing asset-based revolving credit facility in an aggregate principal amount of up to $175 million (the “ABL
Facility”; and loans under the ABL Facility, “ABL Loans”), subject to availability as described under the heading “Availability” below.

 
 All loans outstanding under the ABL Facility will become due and payable on the ABL
Termination Date (as defined below).
  
 Loans under the ABL Facility will be
available to the Borrowers in U.S. dollars (“USD”), Canadian dollars, Australian dollars, Pounds Sterling and Euros (each, an “Available Currency”), subject to availability as described under the heading
“Availability” below.
  
 Bankers’ acceptances
(“Bankers’ Acceptances”) will be available in Canadian dollars on terms and conditions consistent with the Documentation Principles.

		
	 Swing Line Loans:
	  	 At Holdings’ option, a portion of the ABL Facility not to exceed $20 million may be made available as swing line loans
(“Swing Line Loans”) by Barclays Bank (in such capacity, the “Swing Line Lender”) or another Lender acceptable to Holdings, the Administrative Agent and the Collateral and Funding Agent on terms consistent with the
Documentation Principles, subject to availability as described under the heading “Availability” below.
  
 Swing Line Loans will be available solely in USD and Canadian dollars.

		
	 Letters of Credit:
	  	At Holdings’ option, a portion of the ABL Facility up to $50 million may be made available for the issuance of standby and commercial letters of credit (“Letters of
Credit”) by Barclays Bank or another Lender acceptable to Holdings, the Administrative Agent and the Collateral and Funding Agent (in such capacity, the “Issuing Bank”) (which, in the case of any Letters of Credit issued by
Barclays Bank only, shall exclude commercial Letters of Credit) on terms consistent with the Documentation Principles, subject to availability as described under the heading “Availability” below. All existing letters of credit issued by
Bank of America and Bank of Montreal (the “Existing Issuing Banks”) under Holdings’ existing ABL facility shall, at the request of Holdings, constitute Letters of Credit under the ABL Facility.

  
 Exhibit B-2

  

					
	 Incremental Facility:
	  	On or before the ABL Termination Date (as defined below), Holdings will have the right to increase the commitments under the ABL Facility (each such increase to the ABL
Facility, an “Incremental Facility” and, collectively, the “Incremental Facilities”) in an aggregate amount not to exceed $50 million (which amount shall be reduced dollar-for-dollar to the extent the amount of the
aggregate commitments under the ABL Facility on the Closing Date exceeds $175 million) on terms and conditions consistent with the Documentation Principles.
		
	 Availability:
	  	Borrowings under the ABL Facility will be available on a revolving basis during the period commencing on the Closing Date and ending on the ABL Termination Date.
Availability (as defined below) will be determined separately with respect to borrowings in each Available Currency.
		
		  	The amount from time to time available to be borrowed under the ABL Facility in each Available Currency (“Availability”; and the sum of all
Availabilities, “Total Availability”) will be the lesser of (a) the aggregate amount of then effective commitments under the ABL Facility (the “ABL Commitments”), (b) except with respect to borrowings made in USD,
the applicable exposure sub-limit for such Available Currency (each, an “Applicable Sub-Limit”) and (c) the then-applicable Borrowing Base (as defined below) with respect to such Available Currency, minus (d) the Aggregate Exposure
(as defined below) of the applicable group of Borrowers. “Aggregate Exposure” shall be calculated separately for the U.S. Borrowers, the Australian Borrowers, the Canadian Borrowers, the Dutch Borrowers and the U.K. Borrowers, and
with respect to each of the foregoing groups of Borrowers shall be the aggregate amount of ABL Loans, Swing Line Loans, undrawn Letters of Credit and unreimbursed drawings under Letters of Credit then outstanding under the ABL
Facility.
		
		  	The Applicable Sub-Limits shall be as follows:
			
		  	 (i)     $54,000,000 USD equivalent of Australian dollars;

 
 (ii)    $22,000,000 USD
equivalent of Canadian dollars;
  

(iii)  $22,000,000 USD equivalent of Euros; and

 
 (iv)   $35,000,000 USD
equivalent of Pounds Sterling.
	  	
		
		  	The Borrowing Base (the “Borrowing Base”) shall be calculated separately for the U.S. Borrowers, the Australian Borrowers, the Canadian Borrowers, the
Dutch Borrowers and the U.K. Borrowers (the sum of all Borrowing Bases at any date of determination, the “Total Borrowing Base”), and with respect to each of the foregoing groups of Borrowers at any time will be the sum of (a) 85%
of the value of Eligible Accounts plus (b) the lesser of (i) 70% of the book

  
 Exhibit B-3

					
		
		  	value (valued at the lower of cost (on a first-in first-out basis) and market (net of intercompany profits)) of Eligible Inventory and (ii) 85% of the NOLV Factor (as
defined below) of Eligible Inventory minus the sum, without duplication, of (c)(x) reserves against qualified secured hedging agreements, (y) reserves against qualified cash management agreements and (z) other reserves imposed, including without
limitation rent reserves and dilution reserves, to be established in accordance with the Documentation Principles. “Eligible Accounts” and “Eligible Inventory” will be defined separately for the U.S. Borrowers, the
Australian Borrowers, the Canadian Borrowers, the Dutch Borrowers and the U.K. Borrowers in a manner consistent with the Documentation Principles. “NOLV Factor” means the net orderly liquidation value (net of costs and expenses
incurred in connection with the liquidation) (“NOLV”) of inventory as a percentage of the book value of such inventory, which percentage will be determined by reference to the most-recent acceptable third-party appraisal of such
inventory received by the Administrative Agent. Eligibility criteria for Inventory pertaining to the value thereof shall be disregarded in calculating the Borrowing Base using the NOLV of Inventory to the extent such criteria are duplicative of the
valuation methods used to determine NOLV.
		
		  	Each Borrowing Base and the Total Borrowing Base will be computed monthly by Holdings and a certificate (the “Borrowing Base Certificate”) presenting
Holdings’ computation of each Borrowing Base and the Total Borrowing Base will be delivered to the Administrative Agent promptly, but in no event later than the twentieth day, following the end of each month; provided that during an
Increased Reporting Period (as defined below), Holdings will compute each Borrowing Base and the Total Borrowing Base weekly (based on methodology consistent with the Documentation Principles) and deliver a Borrowing Base Certificate to the
Administrative Agent promptly, but in no event later than five business days, following the end of each week. Each Borrowing Base and the Total Borrowing Base on the Closing Date will be determined based on a Borrowing Base Certificate delivered,
and updated collateral examinations and inventory appraisals conducted, prior to the Closing Date; provided, that in the event collateral examinations and inventory appraisals have not been updated within one year prior to the Closing Date,
then for the period ending on the earlier of 90 days following the Closing Date and the date on which such field audits and appraisals have been updated, each Borrowing Base and the Total Borrowing Base shall be based on advance rates to be agreed.
Notwithstanding the foregoing, (a) assets of the SpinCo Borrower and its subsidiaries shall be included in each Borrowing Base and the Total Borrowing Base solely to the extent such assets are included in such updated collateral examinations and
inventory appraisals and (b) no assets shall be included in any Borrowing Base or the Total Borrowing Base unless the Collateral and Funding Agent has been granted a perfected security interest in such assets for the benefit of the
Lenders.

  
 Exhibit B-4

  

			
	 Closing Date:
	  	The date on or before the Termination Date on which the Transactions are consummated (the “Closing Date”).
		
	 Maturity:
	  	The ABL Facility will mature, and the lending commitments thereunder will terminate, on the date that is the earlier of (i) the fifth anniversary of the Closing Date and (ii) 91
days prior to the maturity of the earlier to mature of (a) Holdings’ existing 7.625% senior subordinated notes due 2015 (the “Senior Subordinated Notes”) unless at least 91 days prior to the maturity date thereof, such notes
are refinanced with notes having a maturity date at least six months after the fifth anniversary of the Closing Date (such earlier date, the “ABL Termination Date”).
		
	 Interest Rate:
	  	All amounts outstanding under the ABL Facility will bear interest, at the applicable Borrower’s option, at a rate per annum equal to:
		
		  	Initially, (i) in the case of ABL Loans maintained at (A) the Base Rate or the Canadian Prime Rate, at such rate plus 1.00% and at (B) the Euro Rate or the Bankers’
Acceptance discount rate, at such rate plus 2.00%; and (ii) in the case of Swing Line Loans, at the Base Rate or the Canadian Prime Rate, as applicable, plus 1.00% and, beginning three months following the Closing Date, the interest
rates under the ABL Facility will be the applicable rates per annum set forth in the table below based upon Historical Excess Availability (defined in a manner consistent with the Documentation Principles) set forth in the applicable Borrowing Base
Certificate for the immediately preceding fiscal quarter.

  

					
	 Historical

Excess
 Availability
	  	Applicable Margin
	  	Euro Rate or Bankers’
Acceptance discount
rate+	 	Base Rate or Canadian
Prime Rate+
	 366.7%
	  	1.75%	 	0.75%
	 <66.7% and >33.3%
	  	2.00%	 	1.00%
	 £33.3%
	  	2.25%	 	1.25%

  

			
		  	If any Borrowing Base Certificate is not delivered within the required time period as set forth in the Loan Documents, then until the date that is one business day after the date
on which such Borrowing Base Certificate is delivered, the highest rate set forth in each column of the pricing grid shall apply. At all times after maturity or acceleration of the maturity of the ABL Loans or the occurrence and continuance of an
event of default, upon notice to Holdings by the Administrative Agent, the highest rate set forth in each column shall apply (in addition to any applicable default rate), provided that such highest rate shall automatically apply without any
requirement of notice from the Administrative Agent in the event of a bankruptcy event of default.

  
 Exhibit B-5

			
		
		  	As used herein, the terms “Base Rate”, “Euro Rate” “Eurodollar Rate” and “Canadian Prime Rate” will have
meanings customary and appropriate for financings of this type and consistent with the Documentation Principles, and the basis for calculating accrued interest and the interest periods for loans bearing interest at the Euro Rate will be customary
and appropriate for financings of this type and consistent with the Documentation Principles.
		
	 Default Interest:
	  	All amounts not paid when due will accrue at a rate of 2.0% per annum in excess of the rate otherwise applicable to such amounts (the “Default Interest
Rate”), plus any Mandatory Costs (defined in a manner consistent with the Documentation Principles) in the case of any ABL Loans denominated in Pounds Sterling.
		
	 Interest Payments:
	  	Quarterly for loans bearing interest based upon the Base Rate or the Canadian Prime Rate; except as set forth below, on the last day of selected interest periods (which will be
one, two, three or six months or, if agreed by all Lenders, one week, two weeks, nine months or twelve months) for loans bearing interest based upon the Euro Rate (and at the end of every three months, in the case of interest periods longer than
three months); upon prepayment or repayment; at maturity (whether by acceleration or otherwise); and after such maturity, on demand, in each case payable in arrears and computed on the basis of a 360-day year (or, with respect to loans bearing
interest based upon the “prime” Base Rate or the “prime” Canadian Prime Rate and amounts denominated in Pounds Sterling, a 365/366-day year).
		
	Funding Protection and Taxes:	  	Customary for transactions of this type, including breakage costs, gross-up for tax withholding (subject to customary exclusions and exceptions including U.S. federal withholding
arising as a result of any law in existence as of the date hereof), compensation for increased costs and compliance with capital adequacy and other regulatory restrictions (including customary Dodd-Frank and Basel III protections).
		
	 Commitment Fees:
	  	Commitment fees will be payable on the daily average undrawn portion of the ABL Facility (reduced by the full amount of outstanding Letters of Credit) in an amount equal to: (a)
initially, 0.50% per annum and (b) beginning with the delivery of the first Borrowing Base Certificate delivered after the Closing Date, (i) 0.50 % per annum if Historical Excess Availability is greater than or equal to 50% of ABL
Commitments and (ii) 0.375% per annum if Historical Excess Availability is less than 50% of ABL Commitments.
		
	 Letter of Credit Fees:
	  	Letter of Credit fees equal to the Applicable Margin from time to time on Eurodollar Rate advances under the ABL Facility on a per annum basis will be payable quarterly in
arrears and shared proportionately by the Lenders under the ABL Facility. In addition, a fronting fee in an

  
 Exhibit B-6

			
		
		  	amount to be agreed will be payable to the Issuing Lender for its own account, as well as customary issuance and documentary fees. Both the Letter of Credit fees and the fronting
fees will be calculated on the amount available to be drawn under each outstanding Letter of Credit.
		
	Voluntary Prepayments:	  	Consistent with the Documentation Principles.
		
	Mandatory Prepayments:	  	Consistent with the Documentation Principles.
		
	Cash Management/ Cash Dominion:	  	The Borrower shall maintain a cash management system reasonably satisfactory to the Administrative Agent and the Collateral and Funding Agent, which shall include provisions that
during a Cash Dominion Period (as defined below), amounts in controlled deposit accounts will be swept daily into a core concentration account maintained with the Collateral and Funding Agent and used to prepay the outstanding ABL Loans and/or cash
collateralize any outstanding Letter of Credit obligations. “Cash Dominion Period” means (i) any period commencing on the date Total Availability is less than the greater of (a) $22.0 million and (b) 12.5% of the lesser of the Total
Borrowing Base and the ABL Commitments for five consecutive business days, ending on the date Total Availability has been at least equal to the greater of (a) $22.0 million and (b) 12.5% of the lesser of the Total Borrowing Base and the ABL
Commitments, for 30 consecutive calendar days and (ii) any period during which an event of default is continuing. Upon the termination of any Cash Dominion Period, the Administrative Agent will cease daily sweeping of cash to repay outstanding ABL
Loans and Swing Line Loans and/or cash collateralize outstanding Letter of Credit obligations.
		
	 Collateral:
	  	 The obligations of the Borrower and the Guarantors in respect of the ABL Facility, any Hedging Arrangements entered into with an ABL
Facility Lender Counterparty, as designated by Holdings, and any Cash Management Arrangements entered into with an ABL Facility Bank Product Provider, as designated by Holdings, will be secured by:

 

	  	(a) a perfected first-priority security interest (subject to permitted liens) in the following, whether owned on the Closing Date or thereafter acquired (collectively, the
“ABL Priority Collateral”): (i) all accounts receivable and other rights to payment (in each case, other than to the extent relating to the sale or other disposition of Term Loan Priority Collateral (as defined below);
(ii) inventory and documents related to inventory; (iii) instruments (except to the extent relating to the sale or other disposition of Term Loan Priority Collateral); (iv) general intangibles (other than intellectual property) relating to accounts
receivable and inventory; (v) deposit accounts, security accounts, cash and cash equivalents (other than cash and cash equivalents held in the Term Loan Asset Sale Proceeds Account referred to below and other exceptions to be agreed); (vi)
guarantees, letters of credit rights, security, insurance, supporting obligations and other credit enhancements relating to any of the foregoing; and (vii) books and records relating to any of the foregoing; and

  
 Exhibit B-7

  

			
		  	(b) a perfected second-priority security interest (subject to permitted liens) in the following (collectively, the “Term Loan Priority Collateral”): all assets of
the Borrower and the Guarantors (other than the ABL Priority Collateral), whether owned on the Closing Date or thereafter acquired, including but not limited to: (i) machinery, equipment, furniture, fixtures, vehicles (but not with respect to the
perfection of such security interest), fee interests in real property in excess of an amount to be mutually agreed, intellectual property, general intangibles (except those relating to ABL Priority Collateral) and documents relating to any of the
foregoing, (ii) instruments and other rights to payment (including accounts receivable), in each case, solely to the extent relating to the sale or other disposition of Term Loan Priority Collateral and any deposit account or securities account that
contain only proceeds of the sale of any Term Loan Priority Collateral (the “Term Loan Asset Sale Proceeds Account”) and (iii) the equity interests held by the Borrower or any Guarantor in any direct or indirect subsidiary of the
Borrower or any Guarantor (which pledge, in the case of any foreign subsidiary, will be limited to 100% of the non-voting equity interests (if any) and 66% of the voting equity interests of first-tier foreign subsidiaries.
		
		  	The Term Loan Priority Collateral and the ABL Priority Collateral will not include leasehold interests, fee interests in real estate below a threshold to be agreed, and certain
other property and assets customarily excluded from grants of security in similar financings, and other property and assets as may be agreed upon. Additionally, each of the ABL Priority Collateral and the Term Loan Priority Collateral, respectively,
will include all proceeds thereof.
		
		  	The obligations of the Borrower and the Guarantors under the Term Facility, under certain interest rate protection or other hedging arrangements entered into with an agent, arranger
or lender under the Term Facility or the SpinCo Term Facility or any affiliate of any of the foregoing, in each case, as designated by Holdings (each a “Term Facility Lender Counterparty” and, together with the ABL Facility Lender
Counterparties, the “Lender Counterparties”) and under certain cash management arrangements entered into with an agent, arranger or lender under the Term Facility or the Spinco Term Facility, or any affiliate of any of the
foregoing, in each case, as designated by Holdings (each, a “Term Facility Bank Product Provider” and, together with the ABL Facility Bank Product Providers, the “Bank Product Providers”) will be secured by a
perfected first-priority security interest (subject to permitted liens) in the Term Loan Priority Collateral and a perfected second-priority security interest (subject to permitted liens) in the ABL Priority Collateral; provided that if any
Term Facility Lender Counterparty is also an ABL Facility Lender Counterparty, or if any Term Facility Bank Product Provider is also an ABL Facility Bank Product Provider, then such Term Facility
Lender

  
 Exhibit B-8

			
		
		  	Counterparty or Term Facility Bank Product Provider, as applicable, will instead be secured by a perfected first-priority security interest (subject to permitted liens) in the
ABL Loan Priority Collateral and a perfected second-priority security interest (subject to permitted liens) in the Term Priority Collateral, unless such Term Facility Lender Counterparty or Term Facility Bank Product Provider, as applicable, with
the consent of Holdings elects to instead be secured by a perfected first-priority security interest (subject to permitted liens) in the Term Loan Priority Collateral and a perfected second-priority security interest (subject to permitted liens) in
the ABL Priority Collateral (and notifies the Agents in writing of such election at the time of executing such Hedging Arrangements or providing such Cash Management Arrangements, as applicable, in accordance with procedures and subject to
limitations to be contained in the ABL Facility Documentation). All such security interests will be perfected on the Closing Date except as otherwise provided in Section 2 of the Commitment Letter.
		
	Intercreditor Matters:	  	The relative rights and priorities in the ABL Priority Collateral and the Term Loan Priority Collateral among the secured parties in respect of the ABL Facility, the Lender
Counterparties under secured hedging arrangements (the “Hedging Secured Parties”), the Bank Product Providers under secured cash management arrangements (the “Cash Management Secured Parties”), the
secured parties in respect of the Term Facility (the “Term Loan Secured Parties”) and the secured parties in respect of the SpinCo Term Facility (the “SpinCo Term Loan Secured Parties”) will be set
forth in an intercreditor agreement that will contain customary lien subordination, completion rights, collateral access provisions and intellectual property licensing provisions, all in form and substance reasonably satisfactory to the Arrangers
and the Borrower.
		
	ABL Facility Documentation:	  	The definitive documentation for the ABL Facility (the “ABL Facility Documentation”) shall contain the terms set forth in the Commitment Letter and will
otherwise be based on and be substantially similar to the definitive documentation for the Existing ABL Facility, with modifications necessary to reflect the terms set forth in the Commitment Letter and such other modifications reasonably
satisfactory to the Arrangers and Holdings as shall be appropriate to take into account the pro forma capitalization of, and differences related to, Holdings and its subsidiaries after giving effect to the Transactions (including as to operational
requirements of Holdings and its subsidiaries in light of their size, industries, businesses and business practices, and the sizing of baskets not specified in the Term Sheet), changes in law or accounting standards since the date of the Existing
ABL Facility and current market conditions affecting the asset-based loan market (the “Documentation Principles”).

  
 Exhibit B-9

  

			
	Representations and Warranties:	  	The ABL Facility Documentation will contain such representations and warranties as are usual and customary for asset-based revolving financings of this kind generally, including,
without limitation: organization, requisite power and authority, qualification; equity interests and ownership; due authorization; no conflict; governmental consents; binding obligation; historical financial statements; projections; no material
adverse change; certain fees; adverse proceedings, etc.; tax returns and payment of taxes; properties; environmental matters; no defaults; material contracts; governmental regulation; use of proceeds; margin stock; employee matters; employee benefit
plans; U.K. pension; solvency; related documents; compliance with laws; disclosure; indebtedness; insurance; subordination; status of ABL Facility as senior debt; no trustee duties; corporate benefit; no immunity; own enquiries; centre of main
interests; no insolvency; Investment Company Act; Patriot Act, OFAC and other money-laundering and anti-terrorism laws; intellectual property; receivables and inventory; accuracy of Borrowing Base Certificates; deposit accounts; and security
documents, subject to customary qualifications and limitations for materiality to be provided in the ABL Facility Documentation in a manner to be agreed.
		
	Reporting Covenants:	  	The ABL Facility Documentation will include such reporting covenants as are usual and customary for asset-based revolving loan financings of this kind and as are otherwise
consistent with the Documentation Principles and including without limitation and in any event: delivery of annual, quarterly and monthly financials statements; delivery of monthly Borrowing Base Certificates and customary back-up materials (or
weekly, during any period commencing on the date Total Availability is less than the greater of (a) $30.0 million and (b) 17.5% of the lesser of the Total Borrowing Base and the ABL Commitments for five consecutive business days, ending on the date
Total Availability is at least equal to the greater of (a) $30.0 million and (b) 17.5% of the lesser of the Total Borrowing Base and the ABL Commitments for 30 consecutive calendar days (each, an “Increased Reporting Period”));
delivery of annual third-party audit and appraisal rights (or up to twice annually if during any 12-month period Total Availability is less than $35.0 million or on such more frequent basis as may be requested by the Administrative Agent during any
period during which an event of default is continuing); and delivery of other customary reports (including information regarding collateral) for ABL facilities.
		
	Negative and Affirmative Covenants:	  	The ABL Facility Documentation will include such affirmative and negative covenants as are usual and customary for asset-based revolving loan financings of this kind generally
subject to customary baskets, qualifications and limitations for materiality to be provided in the ABL Facility Documentation in a manner to be agreed.
		
		  	Such affirmative covenants will include, without limitation: existence; payment of taxes and claims; maintenance of properties; maintenance of cash dominion and cash collateral;
periodic updates of the field audit and inventory appraisal conducted in connection with the

  
 Exhibit B-10

			
		  	establishment of the ABL Facility (as provided above); insurance; books and records, inspections; lenders’ meetings; compliance with laws; environmental; ERISA; performance
of obligations; use of proceeds; information regarding collateral; U.K. pensions; maintenance of company separateness; designated senior indebtedness; subsidiaries; additional material real estate assets; additional collateral; further assurances;
and maintenance of ratings (but no minimum rating requirement).
		
		  	Such negative covenants will include, without limitation: liens; indebtedness; no further negative pledges; restricted junior payments; restrictions on subsidiary distributions;
fundamental changes, disposition of assets, capital expenditures; sales and lease-backs; transactions with affiliates; conduct of business; issuance of equity interests; creation of subsidiaries; additional deposit accounts; amendments or waivers of
organizational documents; amendments or waivers with respect to certain indebtedness; fiscal year; existing senior subordinated notes; restrictions on permitted acquisitions and investments, which shall be subject to (a)(i) Total Availability of
greater than or equal to 17.5% of the ABL Commitments on a pro forma basis and (ii) compliance with the Fixed Charge Coverage Ratio (as defined below) on a pro forma basis for the most recently ended twelve-month period or (b) Total Availability of
greater than or equal to 25.0% of the ABL Commitments on a pro forma basis; and restrictions on restricted payments, which shall be subject to (a)(i) Total Availability of greater than or equal to 20.0% of the ABL Commitments on a pro forma basis
and (ii) compliance with the Fixed Charge Coverage Ratio (as defined below) on a pro forma basis for the most recently ended twelve-month period or (b) Total Availability of greater than or equal to 30.0% of the ABL Commitments on a pro forma
basis.
		
	Financial Covenants:	  	If at any time and for so long as Total Availability is less than the greater of (a) $20.0 million and (b) 12.5% of the lesser of the Total Borrowing Base and the ABL
Commitments, Holdings will not permit the ratio of pro forma Consolidated EBITDA (to be defined in the ABL Facility Documentation) for the most recent four fiscal quarter period for which financial statements are available (less the unfinanced
portion of capital expenditures for such period) to be less than 1.0 times pro forma Fixed Charges (to be defined in the ABL Facility Documentation) for such period (the “Fixed Charge Coverage Ratio”).
		
	Events of Default:	  	The ABL Facility Documentation will include such events of default (and, as appropriate, grace periods) as are usual and customary for financings of this kind generally,
including, without limitation: failure to make payments when due; default under other agreements; breach of certain covenants; material breach of representations, etc.; material inaccuracies in, or failure to timely deliver, any Borrowing Base
Certificate; denial of liability; governmental action; failure to comply with cash management provisions; other defaults under the ABL

  
 Exhibit B-11

			
		  	Facility Documentation; involuntary bankruptcy; voluntary bankruptcy; judgments and attachments; dissolution; employee benefit plans; “Change of Control” (to be defined
as mutually agreed upon); guaranties, security documents; and failure of subordinated indebtedness to be subordinated, subject to customary qualifications and limitations for materiality to be provided in the ABL Facility Documentation in a manner
to be agreed.
		
	Conditions Precedent to Initial Borrowing:	  	The several obligations of each Lender to make, or cause an affiliate to make, ABL Loans on the Closing Date will be subject only to (i) the conditions set forth or referred to
in Section 2 of the Commitment Letter, (ii) the accuracy of representations and warranties in all material respects and (iii) the absence of any default or event of default subject, in the case of clauses (ii) and (iii), to the limitations set forth
in Section 2 of the Commitment Letter.
		
	Conditions to All Borrowings:	  	The conditions to all borrowings will include without limitation (i) requirements relating to prior written notice of borrowing, (ii) the accuracy of representations and
warranties in all material respects, (iii) the absence of any default or event of default and (iv) Availability (subject in the case of clauses (ii) and (iii), to the limitations set forth in Section 2 of the Commitment Letter) and will otherwise be
customary and appropriate for financings of this kind generally.
		
	Assignments and Participations:	  	The Lenders may assign all or, in an amount of not less than $5.0 million, any part of their respective shares of the ABL Facility to their affiliates or one or more banks,
financial institutions or other entities that are eligible assignees (to be defined in the ABL Facility Documentation) which (other than in the case of assignments made by or to any of the Arrangers) are acceptable to the Administrative Agent and
the Borrower, each such consent not to be unreasonably withheld or delayed; provided that (i) the consent of the Borrower shall not be required if any event of default has occurred and is continuing and (ii) assignments made to another Lender
or an affiliate of a Lender or of the Administrative Agent will not be subject to the above minimum assignment amount and consent requirements; provided further that the Borrower shall be deemed to have consented to any such assignment
unless it shall object thereto by written notice to the Administrative Agent within five business days after having received notice thereof.
		
		  	The Borrower shall not be permitted to assign its obligations without the approval of all Lenders.
		
	Amendments and Required ABL Lenders:	  	No amendment, modification, termination or waiver of any provision of the ABL Facility Documentation will be effective without the written approval of Lenders holding more than
50.0% of the aggregate amount of the funded and unfunded commitments under the ABL

  
 Exhibit B-12

			
		  	Facility (collectively, the “Required Lenders”), except that the consent of each Lender adversely affected thereby (and in the case of certain collateral issues,
each Lender Counterparty) will be required with respect to, among other things, matters relating to interest rates, maturity, pro rata treatment, sharing provisions, releases of all or substantially all of the guaranties and collateral and the
definition of Required Lenders. Notwithstanding the foregoing, to the extent any amendment or waiver (a) changes the eligibility criteria with respect to any Borrowing Base or the Total Borrowing Base in a manner that would increase any Availability
or the Total Availability, (b) changes the advance rates under any Borrowing Base or the Total Borrowing Base in a manner that would increase any Availability or the Total Availability or (c) makes any other change that would increase any
Availability or the Total Availability (other than with respect to reserves implemented by either of the Agents), such amendment or waiver will require the approval of Lenders holding at least 66-2/3% of the aggregate amount of the ABL Loans, Swing
Line Loans, participations in Letters of Credit and unused commitments under the ABL Facility.
		
	Indemnity and Expenses:	  	The ABL Facility will provide customary and appropriate provisions relating to indemnity and related matters to be mutually agreed. The Borrower will also pay (i) reasonable and
documented out-of-pocket expenses of the Arrangers incurred prior to the Successful Syndication (as defined in the Fee Letter) and the Agents incurred prior to, on or after the Closing Date (to be paid on the Closing Date if invoiced prior to the
Closing Date, and for expenses incurred or invoiced thereafter, within 30 days of a written demand therefore, in each case together with backup documentation supporting such reimbursement request) associated with the syndication of the ABL Facility
and the preparation, negotiation, execution, delivery and administration of the ABL Facility Documentation and any amendment or waiver with respect thereto (but limited, in the case of legal fees and expenses, to the reasonable and documented fees,
disbursements and other charges of one counsel to the Arrangers and the Agents, taken as a whole and, solely in the case of a conflict of interest, one additional counsel to all affected persons taken as a whole (and, if reasonably necessary, of one
local counsel in any relevant jurisdiction and of one special counsel to all such persons, taken as a whole, and, solely in the case of a conflict of interest, one additional local and special counsel to all affected persons, taken as a whole)) and
(ii) all reasonable and documented out-of-pocket expenses of the Arrangers, Agents and the Lenders within 30 days of a written demand therefor together with reasonable backup documentation supporting such reimbursement request (but limited, in the
case of legal fees and expenses, to the reasonable and documented fees, disbursements and other charges of one counsel to the Arrangers, the Agents and the Lenders, taken as a whole and, solely in the case of a conflict of interest, one additional
counsel to all affected persons taken as a whole (and, if reasonably necessary, of one local counsel in any relevant jurisdiction and of one special counsel to

  
 Exhibit B-13

			
		  	all such persons, taken as a whole, and, solely in the case of a conflict of interest, one additional local and special counsel to all affected persons, taken as a whole)) in
connection with the enforcement of the ABL Facility Documentation.
		
	Governing Law and Jurisdiction:	  	The ABL Facility Documentation will provide that the Borrowers and the Guarantors will submit to the exclusive jurisdiction and venue of the federal and state courts of the
Borough of Manhattan in the State of New York and will waive any right to trial by jury. New York law will govern the ABL Facility Documentation.
		
	Counsel to the Arrangers and the Administrative Agent:	  	Latham & Watkins LLP.

  
 Exhibit B-14

 Exhibit C 
 Summary of Terms and Conditions of the Term Facility  
  

			
	 Borrower:
	  	ACCO Brands Corporation (“Holdings” or the “Borrower”)
		
	 Guarantors:
	  	All obligations under the Term Facility (as defined below), under any interest rate protection or other hedging arrangement (“Hedging Arrangements”) entered into
with an Agent, Arranger or Lender (as defined below) under the Term Facility or the SpinCo Term Facility or any affiliate of any of the foregoing, in each case, as designated by Holdings (each, a “Term Facility Lender Counterparty”)
and under any cash management arrangements (“Cash Management Arrangements”) entered into with an Agent, Arranger or Lender under the Term Facility or the SpinCo Term Facility or any affiliate of any of the foregoing, in each case,
as designated by Holdings (each, a “Term Facility Bank Product Provider”), will be unconditionally guaranteed (the “Guarantee”) by each of the Borrower’s existing and subsequently acquired or organized direct
or indirect domestic subsidiaries and, after consummation of the Merger, SpinCo and its subsidiaries that are guarantors of the SpinCo Term Facility (defined below) (collectively, the “Guarantors”).
		
	 Joint Bookrunners and Joint

Lead Arrangers:
	  	Barclays Capital, MLPFS and BMO Capital will act as joint bookrunners and joint lead arrangers (in such capacities, the “Arrangers”) for the Term Facility and
will perform the duties customarily associated with such roles.
		
	 Administrative Agent:
	  	Barclays Bank will act as sole and exclusive administrative agent (in such capacity, the “Administrative Agent”) for the Lenders and will perform the duties
customarily associated with such role.
		
	 Co-Syndication Agents:
	  	Bank of America and BMO Capital will act as co-syndication agents (in such capacity, the “Co-Syndication Agents”) for the Term Facility and will perform the
duties customarily associated with such role.
		
	 Collateral Agent:
	  	Barclays Bank will act as sole and exclusive collateral agent for the Lenders (in such capacity, collectively, the “Term Collateral Agent”) and will perform the
duties customarily associated with such role.
		
	 Documentation Agent:
	  	SunTrust or at the option of the Arrangers one or more financial institutions identified by the Arrangers in consultation with the Borrower and reasonably acceptable to the
Borrower (in such capacity, the “Documentation Agent” and, together with the Administrative Agent, the Co-Syndication Agents and the Term Collateral Agent, the “Agents”).
		
	 Lenders:
	  	Barclays Bank, Bank of America, BMO, SunTrust and/or other banks, financial institutions and institutional lenders selected by the Arrangers and reasonably acceptable to Borrower
and SpinCo (each, a “Lender” and, collectively, the “Lenders”).

  
 Exhibit C-1

  

			
	 Purpose/Use of Proceeds:
	  	The proceeds of the Term Loans will be used to repay the Senior Secured Notes, to fund, in part, the Acquisition and to pay fees and expenses incurred in connection with the
Transactions.
		
	 Amount of Term Facility:
	  	Up to $480 million of senior secured term loan facility (the “Term Facility” and loans under the Term Facility, “Term Loans”).
		
	 Incremental Facilities:
	  	On or before the Term Loan Maturity Date (as defined below), Holdings will have the right to increase the amount of the Term Facility by incurring one or more incremental term
loan facilities (each such incremental term loan facility, an “Incremental Facility” and, collectively, the “Incremental Facilities”) in an aggregate amount not to exceed $200 million; provided that (i) such
Incremental Facilities will share pari passu in the collateral described below, (ii) no existing Lender will be obligated to provide any portion of such Incremental Facilities, (iii) no event of default or default exists or would exist after
giving effect thereto, (iv) all financial covenants would be satisfied and the Senior Secured Leverage Ratio (to be defined in a manner to be agreed) of the Borrower would be equal to or less than 2.50:1.00, in each case on a pro forma basis
on the date of incurrence and for the most recent determination period, after giving effect to such Incremental Facility and other customary and appropriate pro forma adjustment events, including any acquisitions or dispositions after the
beginning of the relevant determination period but prior to or simultaneous with the borrowing of such Incremental Facilities, (v) all fees and expenses owing in respect of such increase to the Administrative Agent, the Term Collateral Agent and the
Lenders will have been paid and (vi)(a) the all-in yield (whether in the form of interest rate margins, original issue discount, upfront fees or a reserve adjusted Eurodollar Rate or Base Rate floor greater than the floor then applicable to the Term
Facility, respectively, with such increased amount being equated to interest margin for purposes of determining any increase to the applicable interest margin under the Term Facility) applicable to any Incremental Facility will be determined by the
Borrower and the lenders providing such Incremental Facility, but will not be more than 0.50% higher than the corresponding all-in yield (after giving effect to interest rate margins (including the reserve adjusted Eurodollar Rate or Base Rate
floors), original issue discount and upfront fees) for the existing Term Facility, unless the interest rate margins with respect to the existing Term Facility are increased by an amount equal to the difference between the all-in yield with respect
to the Incremental Facility and the corresponding all-in yield on the existing Term Facility minus 0.50%, (b) the maturity date applicable to such Incremental Facility will not be earlier than the latest maturity date of the existing Term Facility,
(c) the weighted average life to maturity of such Incremental Facility will not be shorter than the weighted average life to maturity of the existing Term Facility and (d) all other terms of such Incremental

  
 Exhibit C-2

  

			
		  	Facility, if not consistent with the terms of the existing Term Facility, will be as agreed between the Borrower and the Lenders providing such Incremental Facility. The proceeds
of each Incremental Facility will be used for general corporate purposes and permitted acquisitions.
		
	 Availability:
	  	One drawing may be made under the Term Facility on the Closing Date.
		
	 Closing Date:
	  	The date on or before the Termination Date on which the Transactions are consummated (the “Closing Date”).
		
	 Maturity:
	  	The Term Facility will mature on the date that is the earlier of (i) the seventh anniversary of the Closing Date (the “Fixed Maturity Date”) and (ii) 91 days
prior to the maturity of Holdings’ existing 7.625% senior subordinated notes due 2015 (the “Senior Subordinated Notes”) unless, at least 91 days prior to the maturity date of the Senior Subordinated Notes, such notes are
refinanced with notes having a maturity date at least six months after the seventh anniversary of the Closing Date (such earlier date, the “Term Loan Maturity Date”).
		
	 Amortization:
	  	The outstanding principal amount of the Term Facility will be payable in equal quarterly amounts of 1.0% per annum prior to the seventh anniversary of the Closing Date,
with the remaining balance, together with all other amounts owed with respect thereto, payable on the Term Loan Maturity Date.
		
	 Interest Rate:
	  	All amounts outstanding under the Term Facility will bear interest, at the Borrower’s option, at a rate per annum equal to:
		
		  	 (a)    the Base Rate plus 3.75% per annum; or

		
		  	 (b)    the reserve adjusted Eurodollar Rate plus 4.75% per annum;

		
		  	provided, however, that at no time will the Base Rate be deemed to be less than 2.25% per annum or the reserve adjusted Eurodollar Rate be deemed to be less
than 1.25% per annum.
		
		  	As used herein, the terms “Base Rate” and “reserve adjusted Eurodollar Rate” will have meanings customary and appropriate for financings of this
type, and the basis for calculating accrued interest and the interest periods for loans bearing interest at the reserve adjusted Eurodollar Rate will be customary and appropriate for financings of this type.
		
	 Default Interest:
	  	All amounts not paid when due will accrue at a rate of 2.0% per annum plus the rate otherwise applicable to such amounts and will be payable on demand (the
“Default Interest Rate”).
		
	 Interest Payments:
	  	Quarterly for loans bearing interest based upon the Base Rate; except as set forth below, on the last day of selected interest periods (which

  
 Exhibit C-3

  

			
		  	will be one, two, three or six months or, if agreed by all Lenders, nine or twelve months) for loans bearing interest based upon the reserve adjusted Eurodollar Rate (and at the
end of every three months, in the case of interest periods longer than three months); upon prepayment or repayment; at maturity (whether by acceleration or otherwise); and after such maturity, on demand, in each case payable in arrears and computed
on the basis of a 360-day year (or, with respect to loans bearing interest based upon the “prime” Base Rate, a 365/366-day year).
		
	 Documentation:
	  	The Term Facility shall be documented pursuant to a single credit agreement that will also document the SpinCo Term Facility.
		
	 Funding Protection and Taxes:
	  	Customary for transactions of this type, including breakage costs, gross-up for tax withholding (subject to customary exclusions and exceptions including U.S. federal withholding
arising as a result of any law in existence as of the date hereof) compensation for increased costs and compliance with capital adequacy and other regulatory restrictions (including customary Dodd-Frank and Basel III protections).
		
	 Voluntary Prepayments:
	  	The Term Facility may be prepaid in whole or in part without premium or penalty subject to the payment of any applicable Call Premium, as set forth below; provided that
loans bearing interest based upon the reserve adjusted Eurodollar Rate will be prepayable only on the last day of the applicable interest period unless the Borrower pays any related breakage costs. Voluntary prepayments of the Term Facility will be
applied to scheduled amortization payments and the payment at final maturity in such order as the Borrower shall determine and may not be reborrowed.
		
	 Mandatory Prepayments:
	  	The Borrower will make the following mandatory prepayments (subject to certain basket amounts to be negotiated in the definitive documentation for the Term Loan Facility (the
“Term Facility Documentation”)):
		
		  	 1.      Asset Sales: Prepayments in an amount equal to 100.0% of the net cash proceeds of
the sale or other disposition of any property or assets of the Borrower or any of its subsidiaries (and, following the effectiveness of the Merger, SpinCo and its subsidiaries) in excess of an amount to be agreed (including the sale by the Borrower
of any equity interests in any of its subsidiaries (or, following the effectiveness of the Merger, SpinCo and its subsidiaries)) payable no later than the fifth business day following the date of receipt, other than net cash proceeds of sales or
other dispositions of inventory in the ordinary course of business and certain other exceptions to be agreed and net cash proceeds that are reinvested (or committed to be reinvested) in other assets (other than current assets) useful in the business
of the Borrower or any of its subsidiaries (or, following the effectiveness of the Merger, SpinCo and its subsidiaries) within 365 days of such sale or disposition or, if so committed to reinvestment within such 365-day period, reinvested within 180
days thereafter.

  
 Exhibit C-4

  

			
		
		 	 2.      Insurance Proceeds: Prepayments in an amount equal to 100.0% of the net cash
proceeds of property insurance or condemnation proceeds in excess of an amount to be agreed paid on account of any loss of any property or assets of the Borrower or any of its subsidiaries (and, following the effectiveness of the Merger, SpinCo and
its subsidiaries) payable no later than the fifth business day following the date of receipt, other than net cash proceeds that are reinvested (or committed to be reinvested) in other assets (other than current assets) useful in the business of the
Borrower or any of its subsidiaries (or, following the effectiveness of the Merger, SpinCo and its subsidiaries) (or used to replace damaged or destroyed assets) within 365 days of receipt of such net cash proceeds or, if so committed to
reinvestment within such 365- day period, reinvested within 180 days thereafter.

		
		 	 3.      Incurrence of Indebtedness: Prepayments in an amount equal to 100.0% of the net cash
proceeds received from the incurrence of indebtedness by the Borrower or any of its subsidiaries (and, following the effectiveness of the Merger, SpinCo and its subsidiaries) (other than indebtedness otherwise permitted under the Term Facility
Documentation) payable no later than the fifth business day following the date of receipt.

		
		 	 4.      Excess Cash Flow: Prepayments in an amount equal to 50.0% (subject to reductions to
a lower percentage upon achievement and maintenance of a total leverage ratio to be agreed) of “Excess Cash Flow” (to be defined in the Term Facility Documentation) of the Borrower and its subsidiaries (and, following the effectiveness of
the Merger, SpinCo and its subsidiaries) payable within 90 days of the Borrower’s fiscal year end.

		
		 	The net cash proceeds referred to in clauses (1) through (4) of the preceding paragraph shall be applied to prepay the Term Facility and the SpinCo Term Facility on a pro rata
basis.
		
		 	All mandatory prepayments will be applied without penalty or premium (except for breakage costs, if any) and will be applied as set forth in the preceding paragraph and to the next
four scheduled amortization payments for the Term Facility in direct order of maturity and thereafter pro rata to the remaining scheduled amortization payments for the Term Facility and the payment at final maturity.

  
 Exhibit C-5

  

			
	 Call Premium:
	  	 In the event that all or any portion of the Term Facility is repaid or repriced (or effectively refinanced) in connection with a
Repricing Event (as defined below) that occurs on or before the first anniversary of the Closing Date, each Lender holding loans under the Term Facility will be paid an amount equal to 101% of the amount of such loans repaid or repriced (or
effectively refinanced).
  
 “Repricing Event” shall mean
(i) any prepayment or repayment of Term Loans with the proceeds of, or any conversion of Term Loans into, any new or replacement tranche of term loans bearing interest at an effective interest rate less than the effective interest rate applicable to
the Term Loan Facility (as such comparative rates are reasonably determined by the Administrative Agent) and (ii) any amendment to the Term Loan Facility that reduces the effective interest rate applicable to the Term Loans (in each case, such
effective interest rate shall take into account margins, the applicable reserve adjusted Eurodollar Rate or Base Rate floors, original issue discount and upfront fees).

		
	 Collateral:
	  	The obligations of the Borrower and the Guarantors in respect of the Term Facility, any Hedging Arrangements entered into with a Term Facility Lender Counterparty, as designated
by Holdings, and any Cash Management Arrangements entered into with a Term Facility Bank Product Provider, as designated by Holdings, and the obligations of the Borrower and the Guarantors in respect of the SpinCo Term Facility will be secured
by:
		
		  	(a) a first-priority security interest (subject to permitted liens) in the following (collectively, the “Term Loan Priority Collateral”): all
assets of the Borrower and the Guarantors (other than the ABL Priority Collateral), whether owned on the Closing Date or thereafter acquired, including but not limited to: (i) machinery, equipment, furniture, fixtures, vehicles (but not with respect
to the perfection of such security interest), fee interests in real property in excess of an amount to be mutually agreed, intellectual property, general intangibles (except those relating to ABL Priority Collateral) and documents relating to any of
the foregoing, (ii) instruments and other rights to payment (including accounts receivable), in each case, solely to the extent relating to the sale or other disposition of Term Loan Priority Collateral and any deposit account or securities account
that contain only proceeds of the sale of any Term Loan Priority Collateral (the “Term Loan Asset Sale Proceeds Account”) and (iii) the equity interests held by the Borrower or any Guarantor in any direct or indirect
subsidiary of the Borrower or any Guarantor (which pledge, in the case of any foreign subsidiary, will be limited to 100% of the non-voting equity interests (if any) and 66% of the voting equity interests of first-tier foreign subsidiaries;
and
		
		  	(b) a perfected second-priority security interest (subject to permitted liens) in the following, whether owned on the Closing Date or thereafter acquired (collectively, the
“ABL Priority Collateral”): (i) all accounts receivable and other rights to payment (in each case, other than to the extent relating to the sale or other disposition of Term Loan

  
 Exhibit C-6

  

			
		  	 Priority Collateral (as defined below)); (ii) inventory and documents related to inventory; (iii) instruments (except to the extent
relating to the sale or other disposition of Term Loan Priority Collateral); (iv) general intangibles (other than intellectual property) relating to accounts receivable and inventory; (v) deposit accounts, security accounts, cash and cash
equivalents (other than cash and cash equivalents held in the Term Loan Asset Sale Proceeds Account referred to above and other exceptions to be agreed); (vi) guarantees, letters of credit rights, security, insurance, supporting obligations and
other credit enhancements, relating to any of the foregoing; and (vii) books and records relating to any of the foregoing.
  
 The Term Loan Priority Collateral and the ABL Priority Collateral will not include leasehold interests, fee interests in real estate below a threshold to be agreed, and certain other property and assets
customarily excluded from grants of security in similar financings, and other property and assets as may be agreed upon. Additionally, each of the ABL Priority Collateral and the Term Loan Priority Collateral, respectively, will include all proceeds
thereof.
  
 The obligations of the Borrower and the Guarantors under the ABL
Facility, under certain interest rate protection or other hedging arrangements entered into with an agent, arranger or lender under the ABL Facility or any affiliate of any of the foregoing, in each case, as designated by Holdings (each an
“ABL Facility Lender Counterparty” and, together with the Tem Facility Lender Counterparties, the “Lender Counterparties”) and under certain cash management arrangements entered into with an agent, arranger or
lender under the ABL Facility or any affiliate of any of the foregoing, in each case, as designated by Holdings (each, an “ABL Facility Bank Product Provider” and, together with the Term Facility Bank Product Providers, the
“Bank Product Providers”) will be secured by a perfected second-priority security interest (subject to permitted liens) in the Term Loan Priority Collateral and a perfected first-priority security interest (subject to permitted
liens) in the ABL Priority Collateral; provided that if any ABL Facility Lender Counterparty is also a Term Facility Lender Counterparty, or if any ABL Facility Bank Product Provider is also a Term Facility Bank Product Provider, then if such
ABL Facility Lender Counterparty or ABL Facility Bank Product Provider, as applicable, so elects with the consent of Holdings (and notifies the Agents in writing of such election at the time of executing such Hedging Arrangements or providing such
Cash Management Arrangement, as applicable, in accordance with procedures and subject to limitations to be contained in the Term Facility Documentation), such ABL Facility Lender Counterparty or ABL Facility Bank Product Provider, as applicable,
will instead be secured by a perfected first-priority security interest (subject to permitted liens) in the Term Loan Priority Collateral and a perfected second-priority security interest (subject to permitted liens) in the ABL Priority Collateral.
All such security interests will be perfected on the Closing Date except as otherwise provided in Section 2 of the Commitment Letter.

  
 Exhibit C-7

  

			
	Intercreditor Matters:	  	The relative rights and priorities in the ABL Priority Collateral and the Term Loan Priority Collateral among the secured parties in respect of the ABL Facility (or the Amended
Existing ABL Facility, if the same remains outstanding), the Lender Counterparties under secured hedging arrangements (the “Hedging Secured Parties”), the Bank Products Providers under secured cash management arrangements (the
“Cash Management Secured Parties”), the secured parties in respect of the Term Facility (the “Term Loan Secured Parties”) and the secured parties in respect of the SpinCo Term Facility (the “SpinCo Term Loan
Secured Parties”) will be set forth in an intercreditor agreement that will contain customary lien subordination, completion rights, collateral access provisions and intellectual property licensing provisions, all in form and substance
reasonably satisfactory to the Arrangers and the Borrower.
		
	 Representations and

Warranties:
	  	The Term Facility Documentation will contain representations and warranties relating to the following matters as are usual and customary for financings of this kind generally:
organization, requisite power and authority, qualification; equity interests and ownership; due authorization; no conflict; governmental consents; binding obligation; historical financial statements; projections; no material adverse change; certain
fees; adverse proceedings, etc.; payment of taxes; properties; environmental matters; no defaults; material contracts; governmental regulation; margin stock; employee matters; employee benefit plans; solvency; related documents; compliance with
laws; disclosure; senior indebtedness; Patriot Act, OFAC and other money- laundering and anti-terrorism laws; intellectual property; and security documents, subject to customary qualifications and limitations for materiality to be provided in the
Term Facility Documentation in a manner to be agreed.
		
	 Negative and Affirmative

Covenants:
	  	 The Term Facility Documentation will contain affirmative and negative covenants relating to the following matters as are usual and
customary for financings of this kind generally, subject to customary baskets, qualifications and limitations for materiality to be provided in the Term Facility Documentation in a manner to be agreed.

 
 Such affirmative covenants will include: financial statements and other reports;
existence; payment of taxes and claims; maintenance of properties; insurance; books and records, inspections; lenders’ meetings; compliance with laws; environmental; subsidiaries; additional material real estate assets; additional collateral;
further assurances; and maintenance of ratings (but no minimum rating requirement).

  
 Exhibit C-8

  

			
		  	Such negative covenants will include: indebtedness; liens; no further negative pledges; restricted junior payments; restrictions on subsidiary distributions; investments;
fundamental changes, disposition of assets, acquisitions; capital expenditures; sales and lease-backs; transactions with affiliates; conduct of business; amendments or waivers of organizational documents; amendments or waivers with respect to
certain indebtedness; and fiscal year.
		
	 Financial

Covenants:
	  	Such financial covenants will include: minimum interest coverage and maximum leverage, in each case providing a cushion to be agreed above the levels set forth in the
Borrower’s financial model delivered to the Arrangers on November 22, 2011.
		
	Events of Default:	  	The Term Facility Documentation will include such events of default (and, as appropriate, grace periods) relating to the following matters as are usual and customary for
financings of this kind generally: failure to make payments when due; default under other agreements; breach of certain covenants; material breach of representations, etc.; other defaults under the Term Facility Documentation; involuntary
bankruptcy; voluntary bankruptcy; judgments and attachments; dissolution; employee benefit plans; “Change of Control” (to be defined as mutually agreed upon); guaranties, security documents; and failure of subordinated indebtedness to be
subordinated, subject to customary qualifications and limitations for materiality to be provided in the Term Facility Documentation in a manner to be agreed.
		
	 Conditions Precedent to

Borrowing:
	  	The several obligations of each Lender to make, or cause an affiliate to make, Term Loans on the Closing Date will be subject only to (i) the conditions set forth or referred to
in Section 2 of the Commitment Letter, (ii)(a) the closing of the ABL Facility in accordance with the terms of this Commitment Letter or (b) solely if the commitments with respect to the ABL Facility have been terminated in full, the consummation of
the Amended Existing ABL Facility, (iii) the accuracy of representations and warranties in all material respects and (iv) the absence of any default or event of default subject, in the case of clauses (iii) and (iv), to the limitations set forth in
Section 2 of the Commitment Letter.
		
	 Assignments and

Participations:
	  	The Lenders may assign all or, in an amount of not less than $1.0 million, any part of their respective shares of the Term Facility to their affiliates or one or more banks,
financial institutions or other entities that are eligible assignees (to be defined in the Term Facility Documentation) which (other than in the case of assignments made by or to any of the Arrangers) are acceptable to the Administrative Agent and
the Borrower, each such consent not to be unreasonably withheld or delayed; provided that (i) the consent of the Borrower shall not be required if any event of default has occurred and is continuing and (ii) assignments made to another Lender
or an affiliate of a Lender or of

  
 Exhibit C-9

  

			
		  	the Administrative Agent will not be subject to the above minimum assignment amount and consent requirements; provided further that the Borrower shall be deemed to
have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within five business days after having received notice thereof. The Borrower shall have the ability to purchase Term Loans through
dutch auction procedures to be mutually agreed, which Term Loans shall immediately and automatically be cancelled.
		
		  	The Borrower shall not be permitted to assign its obligations without the approval of all Lenders.
		
	 Amendments and

Required Lenders:
	  	No amendment, modification, termination or waiver of any provision of the Term Facility Documentation will be effective without the written approval of Lenders holding more than
50.0% of the aggregate amount of the funded and unfunded commitments under the Term Facility (collectively, the “Required Lenders”), except that the consent of each Lender adversely affected thereby (and in the case of certain
collateral issues, each Lender Counterparty) will be required with respect to, among other things, matters relating to interest rates, maturity, amortization, pro rata treatment, sharing provisions, releases of all or substantially all of the
guaranties and collateral and the definition of Required Lenders.
		
	 Indemnity and Expenses:
	  	The Term Facility will provide customary and appropriate provisions relating to indemnity and related matters to be mutually agreed. The Borrower will also pay (i) reasonable and
documented out-of-pocket expenses of the Arrangers incurred prior to the Successful Syndication (as defined in the Fee Letter) and the Agents incurred prior to, on or after the Closing Date (to be paid on the Closing Date if invoiced prior to the
Closing Date, and for expenses incurred or invoiced thereafter, within 30 days of a written demand therefore, in each case together with backup documentation supporting such reimbursement request) associated with the syndication of the Term Facility
and the preparation, negotiation, execution, delivery and administration of the Term Facility Documentation and any amendment or waiver with respect thereto (but limited, in the case of legal fees and expenses, to the reasonable and documented fees,
disbursements and other charges of one counsel to the Arrangers and the Agents, taken as a whole and, solely in the case of a conflict of interest, one additional counsel to all affected persons taken as a whole (and, if reasonably necessary, of one
local counsel in any relevant jurisdiction and of one special counsel to all such persons, taken as a whole, and, solely in the case of a conflict of interest, one additional local and special counsel to all affected persons, taken as a whole)) and
(ii) all reasonable and documented out-of-pocket expenses of the Arrangers, Agents and the Lenders within 30 days of a written demand therefor together with reasonable backup documentation supporting such reimbursement request (but limited, in the
case of legal fees and expenses, to the reasonable and documented fees, disbursements and other charges of one counsel to

  
 Exhibit C-10

  

			
		  	the Arrangers, the Agents and the Lenders, taken as a whole and, solely in the case of a conflict of interest, one additional counsel to all affected persons taken as a whole
(and, if reasonably necessary, of one local counsel in any relevant jurisdiction and of one special counsel to all such persons, taken as a whole, and, solely in the case of a conflict of interest, one additional local and special counsel to all
affected persons, taken as a whole)) in connection with the enforcement of the Term Facility Documentation.
		
	 Governing Law and

Jurisdiction:
	  	The Term Facility Documentation will provide that the Borrower and the Guarantors will submit to the exclusive jurisdiction and venue of the federal and state courts of the
Borough of Manhattan in the State of New York and will waive any right to trial by jury. New York law will govern the Term Facility Documentation.
		
	 Counsel to the Arrangers and
 the Administrative Agent:
	  	Latham & Watkins LLP.

  
 Exhibit C-11

 Exhibit D 
 Summary of Conditions Precedent to the Facilities 
  

	1.	Concurrent Transactions: The terms of the Merger Agreement and the Separation Agreement shall be reasonably satisfactory to the Arrangers, (it being agreed that
the Merger Agreement dated November 17, 2011 and the Separation Agreement dated November 17, 2011 provided to the Arrangers prior to the date hereof are reasonably satisfactory to the Arrangers). The Contribution and the Merger and each of
the other Transactions shall have been consummated or will be consummated substantially concurrently with the initial funding under the Facilities in accordance with the Merger Agreement, the Separation Agreement and the terms described in this
Commitment Letter; provided that no amendment, modification or waiver of any term thereof (other than any such amendment, modification or waiver that is not materially adverse to the interests of the Arrangers and the Lenders, taken as a
whole) shall be made or granted, as the case may be, without the prior written consent of the Administrative Agent (not to be unreasonably withheld or delayed) (it being understood that any change in the price over 10% (including any price decrease
over 10%) will be deemed to be materially adverse to the interests of the Lenders and will require the prior written consent of the Administrative Agent). Concurrently with the consummation of the Acquisition, (a) if the commitments with
respect to the ABL Facility have not been terminated in full, the Existing ABL Facility will have been repaid in full, all commitments relating thereto will have been terminated and all liens or security interests related thereto will have been
terminated or released, in each case on terms satisfactory to the Arrangers or (b) if the commitments with respect to the ABL Facility have been terminated in full, the Existing ABL Facility will have been amended (as so amended, the
“Amended Existing ABL Facility”) in a manner reasonably satisfactory to the Arrangers, including without limitation any amendments requested by the Arrangers to provide the Agents and the Lenders under the Term Facility the same
rights and security interest as described under the captions “Guarantors”, “Collateral” and “Intercreditor Matters” in Exhibit C hereto relative to the Amended Existing ABL Facility as such Agents and Lenders would have
had relative to the ABL Facility were such facility consummated. 

  

	2.	 Financial Statements. The Arrangers shall have received (i) unqualified audited consolidated balance sheets and related consolidated
statements of income, shareholders’ equity and cash flows of Augusta and the SpinCo Borrower and their respective subsidiaries for each of the three most recently completed fiscal years ending more than 90 days prior to the Closing Date,
(ii) unaudited consolidated balance sheets and related consolidated statements of income, shareholders’ equity and cash flows for any quarterly interim period or periods (other than the fourth fiscal quarter of Augusta’ and the SpinCo
Borrower’s, fiscal year) of Augusta and the SpinCo Borrower and their respective subsidiaries ending more than 45 days prior to the Closing Date, together with unaudited consolidated balance sheets and related consolidated statements of income,
shareholders’ equity and cash flows for the corresponding period of the most recently completed fiscal year (all of which shall have been reviewed by the independent accountants for Augusta and the SpinCo Borrower (as applicable) as provided in
the Statement on Auditing Standards No. 100), (iii) customary additional unqualified audited and unaudited financial statements for all recent, probable or pending acquisitions and (iv) a pro forma consolidated balance sheet and
related pro forma consolidated statements of income of Augusta and its subsidiaries (a) as of the last day of and for the most recently completed fiscal year ended at least 90 days before the Closing Date, (b) as of the last day of and for
the most recently completed fiscal quarter ended at least 45 days before the Closing Date, and (c) as of the last day of and for the twelve-month period ending on the last day of the most recently completed fiscal quarter ended at least 45 days
before the Closing Date, or, if the most recently completed fiscal period is 

  
 Exhibit D-1

	 	
the end of a fiscal year, ended at least 90 days before the Closing Date, in each case prepared after giving effect to the Transactions as if the Transactions had occurred as of such date (in the
case of each such balance sheet) or at the beginning of such period (in the case of each such statement of income), and in each case contemplated by clauses (i), (ii), (iii) and (iv) meeting the requirements of Regulation S-X for Form S-1
registration statements. 

  

	3.	Projections. At least 30 days prior to the Closing Date, the Arrangers shall have received financial projections of Holdings and Holdings’ subsidiaries
through its fifth fiscal year following the Closing Date, which will be prepared on a pro forma basis to give effect to the Transactions. 

  

	4.	Marketing Period. The Arrangers shall have received a confidential information memorandum and other customary marketing materials for use in the syndication of
the Facilities by a date sufficient to afford the Arrangers a period of at least 20 consecutive business days following the receipt of the confidential information memorandum and the Debt Ratings to syndicate the Facilities prior to the Closing
Date; provided that such period will not include any date from and including November 21, 2011 through and including November 28, 2011, from and including December 19, 2011 through and including January 3, 2012 and from
and including August 20, 2012 through and including August 31, 2012. 

  

	5.	Definitive Documents; Customary Closing Conditions. Subject to the limitations set forth in Section 2 of the Commitment Letter, the definitive loan
documents relating to the Facilities, including without limitation loan agreements, guarantees, security agreements and other related definitive documents (collectively, the “Loan Documents”) shall have been prepared by the
Arrangers’ counsel based upon and substantially consistent with the terms set forth in this Commitment Letter and otherwise reasonably satisfactory to the Commitment Parties and the Arrangers and shall have been executed and delivered by
Augusta and each of its subsidiaries party thereto. The Arrangers shall be reasonably satisfied that Augusta has complied with all other customary closing conditions for financings of this kind, as follows: (i) the delivery of customary legal
opinions, corporate records and documents from public officials and customary officers’ certificates; (ii) customary evidence of authority; (iii) obtaining material third party and governmental consents necessary in connection with
the Merger, the related transactions or the financing thereof; (iv) absence of material litigation or regulatory action affecting the Merger, the related transactions and the financing thereof; (v) subject to Section 2 of the
Commitment Letter, perfection of liens, pledges, mortgages and any other security interests on the collateral securing the Facilities (free and clear of all liens, subject to customary and limited exceptions to be mutually agreed upon);
(vi) satisfactory lien and judgment searches; (vii) payment of all fees and expenses set forth in this Commitment Letter and the Fee Letter; (viii) Augusta, the SpinCo Borrower and each of their respective subsidiaries, on a
consolidated basis (taken as a whole), will, pro forma for the Transactions, be solvent and delivery of a solvency certificate as of the Closing Date in a customary form reasonably satisfactory to the Administrative Agent to that effect from
the chief financial officer of Augusta; (ix) satisfaction of the conditions set forth under the caption “Conditions Precedent to Initial Borrowing” in Exhibit B; and (x) each Lender shall have received at least five (5) days
prior to the Closing Date all documentation and other information required by bank regulatory authorities under applicable “know-your-customer” and anti-money laundering rules and regulations, including the Patriot Act that has been
reasonably requested by the Lenders at least ten (10) days in advance of the Closing Date. 

  

	6.	Indebtedness. After giving effect to the Transactions, Augusta and its subsidiaries, including SpinCo Borrower, shall have outstanding no third party
indebtedness for borrowed money other than the Term Facility, the ABL Facility (or, solely if the commitments with respect to the ABL Facility have been terminated in full, the Amended Existing ABL Facility), the SpinCo Notes or the Exchange Loans,
the SpinCo Term Facility, the Senior Subordinated Notes and other indebtedness in a principal amount not to exceed $10 million. 

  
 Exhibit D-2

	7.	Audits, Appraisals. The Arrangers shall have received from Augusta, at least 20 business days prior to the Closing Date, the most recently prepared
(i) collateral field exams with respect to the relevant collateral included in the each of the Borrowing Bases under the Existing ABL Facility (the “Existing ABL Field Exam”) and (ii) appraisal of the NOLV of inventory by
an independent third-party appraisal firm in connection with the Existing ABL Facility (the “Existing ABL Appraisal”). In addition, Augusta shall, and shall cause its subsidiaries to, use commercially reasonable efforts to
(a) cause the parties having prepared the Existing ABL Field Exam and the Existing ABL Appraisal to deliver to the Arrangers customary letters permitting the Arrangers to rely thereon at least 30 business days prior to the Closing Date and
(b) prepare and deliver to the Arrangers updated versions of the Existing ABL Field Exam and Existing ABL Appraisal reasonably satisfactory to the Arrangers on or prior to the Closing Date. 

 

	8.	SpinCo Term Facility. The conditions precedent to the SpinCo Term Facility shall have been satisfied and the SpinCo Term Facility shall have been funded
concurrently or substantially concurrently with (but in any event on the same day as) the Facilities. 

  
 Exhibit D-3

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