Document:

EX-10.3

 Exhibit 10.3 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND IS THE TYPE THAT THE REGISTRANT
TREATS AS PRIVATE OR CONFIDENTIAL. THE REDACTED TERMS HAVE BEEN MARKED WITH THREE ASTERISKS [***] 
 SUPPLY AGREEMENT 

This Supply Agreement (“Agreement”) is made as of September 1, 2021 by and between Sylvamo North America, LLC, a Delaware Company, with
corporate offices located in Memphis TN (“Buyer”) and International Paper Company, a New York corporation with corporate offices located at 6400 Poplar Avenue, Memphis, TN 38197 (“Seller”). 

WHEREAS, prior to the date hereof Seller, through its North American Container business unit, manufactured and sold corrugated packaging products
(“Products”) to Seller’s North American Papers business unit (the “Papers Business”); and 
 WHEREAS, Seller is spinning off the
Papers Business into a stand-alone, publicly traded company operated under Buyer’s name and marks by Buyer (the “Transaction”); and 

WHEREAS, Buyer will purchase and Seller will to continue to supply Products that were supplied to the Papers Business prior to the close of the Transaction,
as further described herein. 
 NOW, THEREFORE, the parties hereto agree as follows: 

 

					
	CONTRACT ELEMENT	  	 SPECIFICS

	1.	  	Term of Contract	  	Three (3) Years (“Initial Term”). After the Initial Term, the Agreement shall automatically renew for a successive one (1) year term (a “Renewal Term”) unless either party gives written notice of
termination to the other party at least ninety (90) days prior to the expiration of the Initial Term or Renewal Term (the Initial Term and Renewal Term referred to herein as the “Term”).
			
	2.	  	Start Date and End Date	  	September1, 2021 through August 31, 2024
			
	3.	  	Purchase Commitment	  	During the Term of this Agreement, Buyer agrees to purchase 100% of its requirements for the Products identified in the attached Exhibit A from International Paper, including any replacements, modifications or revisions of said
Products (“Replacement Products”). Provided, however, in the event International Paper is unable to manufacture the Replacement Product(s) to meet Buyer’s requirements, Buyer shall be free to purchase said Replacement Product(s) from
an alternate supplier.
			
	4.	  	Prices	  	Initial prices are listed in Exhibit A. Prices may be changed as described below in Section 5.
			
	5.	  	Price changes based on changes in price/ton of linerboard	  	The prices of Products shall increase or decrease by [***] % for every $10/ton movement in the midpoint of the East Coast, open market price for 42# unbleached kraft linerboard as reported in the “Price Watch” section of
Pulp & Paper Week (“PPW”). The benchmark price for calculating a change in the price of linerboard shall be $[***]/ton for the initial adjustment and thereafter the baseline will be the midpoint of the East Coast open market price
as of the immediately prior price adjustment under this Agreement. Price change is made quarterly (Jan 1, April 1, July 1 and Oct 1) based on PPW price publication for the 2nd month for
the prior quarter (i.e., Nov for Jan 1, Feb for April 1, May for July 1, August for October 1). Price changes will be implemented with shipments. $20 per ton min trigger (cumulative)
			
	6.	  	Payment Terms	  	Net 30 days from date of invoice
			
	7.	  	Minimum order	  	Full or mixed full truckload, small quantity adders for any order less than 6,000 pieces
			
	8.	  	Freight	  	FOB Buyer location. All pricing includes freight with the exception of shipment to South Coast Paper. For South Coast Paper, freight is added as a separate line and billed to Buyer.
			
	9.	  	Lead Time for Orders	  	Ten (10) working days existing items, Fifteen (15) working days for new items. Changes will be communicated to the customer to better understand if expectations have
changed.

					
	CONTRACT ELEMENT	  	 SPECIFICS

	10.	  	Drop Trailers / Warehousing	  	All items are quoted make and ship. Warehousing is not included in pricing. For locations that require drop trailers (i.e., Sumter), pricing includes [***] drop trailers. Any additional trailer need will be charged at monthly fee of
$[***].
			
	11.	  	Cost Savings	  	Seller will work with Buyer to identify cost savings on an annual basis. The annual targeted cost savings shall be [***] percent ([***]%); however, the parties acknowledge that the foregoing is not intended to be a guarantee of cost
savings.
			
	12.	  	Commercialization Support	  	Seller will support Buyer with efforts around corrugated packaging opportunities with end-use customers. Our businesses will also schedule top to top meetings as appropriate, to discuss
strategies on key customers / support.
			
	13.	  	Pre-press and Printing Plates	  	Buyer pays for new and changed items, Seller pays for repairs and replacements. Print plates shall be procured only from Seller approved tooling manufacturers
			
	14.	  	Cutting Dies	  	Buyer pays for new and changed items, Seller pays for repairs and replacements
			
	15.	  	Termination for Cause and/or Performance	  	This Agreement may be terminated as follows: (i) by either party, upon written notice to the other party in the event that the other breaches any of its obligations under this Agreement in any material respect and such breach
continues for a period of 30 days after the non-breaching party has given the breaching party written notice of such breach; or (ii) by either party, in the event that the other files a petition in
bankruptcy or makes an assignment for the benefit of creditors or a third party files a petition in bankruptcy against the other, which petition is not dismissed within 30 days after filing. The parties acknowledge that failure of International
Paper to fulfill orders pursuant to Customer’s requirements, as identified in Section 3, in accordance with the agreed upon quality and service standards, shall constitute a breach of this Agreement that is subject to cure or termination
in accordance with this provision.

 The parties also agree that the provisions contained in any Schedules or Addenda attached hereto shall apply
to the purchase and sale of Products under this Agreement. In addition, the Standard Terms and Conditions of Sale of Packaging Products attached hereto are incorporated into this Agreement and shall apply to the purchase and sale of Products under
this Agreement, provided that any of the foregoing provisions and the provisions in any Schedules or Addenda shall prevail over any conflicting provisions in the Standard Terms and Conditions. 

The parties hereby consent to this Agreement as evidenced by the signatures of their authorized representatives on the date or dates indicated
below.     
  

											
	INTERNATIONAL PAPER COMPANY	  	SYLVAMO NORTH AMERICA, LLC	  	
						
	By: 	 	 /s/ Ron Wise
	  		  	By:	 	 /s/Patrick Wilczynski
	  	
		 	(Signature)	  		  		 	(Signature)	  	
				
	 Ron Wise
	  		  	 Patrick Wilczynski
	  	
	(Name—typed or printed)	  		  	(Name—typed or printed)	  	
				
	 VP Commercial/National Accounts NAC
	  		  	 SVP, Operational Excellence
	  	
	(Title)	  		  	(Title)	  	
				
	 08/26/2021
	  		  	 08/26/2021
	  	
	(Date)	  		  	(Date)	  	

 EXHIBIT A 

PRICE LIST SCHEDULE 
 [***]EX-10.4

 Exhibit 10.4 
  

 
 CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND IS
THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. THE REDACTED TERMS HAVE BEEN MARKED WITH THREE ASTERISKS [***] 

RECYCLABLE MATERIAL MASTER PURCHASE AGREEMENT 

International Paper Company, a New York corporation, with an office and principal place of business at 6400 Poplar Avenue, Memphis, Tennessee
38197 (“International Paper” or “Buyer”) agrees to buy, and the person, firm, or corporation listed below (“Seller”) agrees to sell certain recyclable materials (“Goods”) on the
terms and conditions described in this Recyclable Material Master Purchase Agreement (“Agreement”).     

This Agreement consists of: 
  

	 	•	 	 The attached addenda (“Addenda”) 

	 	•	 	 Addendum A: Statement of Work (“SOW”) 

	 	•	 	 Addendum B: Standard Terms and Conditions 

 

	 	•	 	 Any additional applicable SOWs executed by the parties 

 

	 	•	 	 Any applicable NDA between the parties 

Contact Information for Notices: 
  

			
	 Seller
	  	 Buyer

	 NAME: Sylvamo North America, LLC
  

Attn: General Counsel
 6400 Poplar Ave

Tower 1, 9th Floor
 Memphis, TN 38197
	  	 International Paper Company
 Attention: Vice
President and General Manager, Recycling and Recovered Fiber
 6400 Poplar Avenue

Memphis, Tennessee 38197

		
	With a copy to:	  	With a copy to:
		
	 NAME: __________________________

ADDRESS: ______________________
 PHONE:
_________________________
 EMAIL: __________________________
	  	 International Paper Company
 Attention: Senior
Counsel, Recycling
 6400 Poplar Avenue
 Memphis, Tennessee
38197

 Each party may update its contacts above by notice to the other. Routine business and technical correspondence must be in
English, and may be in electronic form. The parties will give all legal notices under this Agreement in writing, in non-electronic form, and in English. 

Duly authorized representatives of the parties execute this Agreement to be effective as of 9/1/2021. 

 

			
	SELLER: SYLVAMO NORTH AMERICA, LLC	  	BUYER: INTERNATIONAL PAPER COMPANY
		
	By: /s/ Patrick Wilczynski            	  	By: /s/ Charles Hairston            
	Print Name: Patrick Wilczynski	  	Print Name: Charles Hairston
	Title: SVP, Operational Excellence	  	Title: VP Recycling and Recovery Fiber

  

  
 1 

 

 
  

 ADDENDUM A: STATEMENT OF WORK (“SOW”) 

This Statement of Work (“SOW”), between the International Paper Company (“International Paper” or “Buyer”) and
Sylvamo North America, LLC (“Seller”) is entered into and made a part of the Recyclable Material Master Purchase Agreement (the “Agreement”) between International Paper and Seller, dated 9/1/2021. Any capitalized
term not defined in this SOW has the meaning attributed to it in the Agreement. To the extent that any terms of this SOW conflict with any of the terms of the Agreement, the terms of the SOW explicitly supersede the terms in the Agreement. The
parties may negotiate and execute additional SOWs as agreed. 
  

					
	 CONTRACT ELEMENT
	  	 SPECIFICS

			
	1.	  	Start and End Dates	  	[***] until [***] (the “Initial Term”).
			
	2.	  	Renewal	  	After the Initial Term, this SOW shall automatically renew for a successive one (1) year term (a “Renewal Term”) unless either party gives written notice of termination to the other party at least sixty (60) days
prior to the expiration of the Initial Term or Renewal Term (the Initial Term and Renewal Term referred to herein as the “Term”).
			
	3.	  	Seller’s Designated Location(s), Grade(s), and Volume	  	Seller’s Designated Location(s), Grade(s), and Estimated Volume for each ton of Goods sold and purchased under this SOW shall be as described in Exhibit 1. [***]
			
	4.	  	Purchase Pricing Formula	  	 The Purchase Pricing Formula for each ton of Goods sold and purchased under this SOW shall be as described in Exhibit 1 and shall be adjusted
monthly based on either:
 PPI Pulp & Paper Week Recovered Paper Price Watch (“PPI”). If PPI changes pricing policy, ceases to publish, or
no longer reasonably reflects the Goods’ value, then the Parties shall attempt in good faith to agree on a mutually acceptable alternative; or
 The
Fair Market Value (“FMV”) of the Goods as determined and quoted by Buyer from time to time and confirmed by Seller either in writing or by delivery of Goods to Buyer after receiving such quotation.

Prior to the end of each year of the Term, Buyer agrees to compare prices of each Grade as set forth in Exhibit 1 (“Sylvamo Prices”) to the average
prices Buyer is paying to other suppliers for the same Goods (“Third Party Pricing). If Sylvamo Prices are inconsistent with Third Party Prices (either higher or lower), Sylvamo Prices will be adjusted in line with Third Party Prices and
Exhibit 1 wil be revised accordingly to be effective for the following year.

			
	5.	  	Shipping	  	Shipping costs are included in the Purchase Pricing Formula described above, unless otherwise indicated. Shipping shall be as described in Exhibit 1.
			
	6.	  	Payment Terms	  	Net thirty (30) days from the date of invoice.
			
	7.	  	Minimum Weight	  	 From Sumter: [***]
 From Eastover:
[***]

			
	8.	  	Safe Loading Pattern	  	Seller will ship all baled Goods (if any) in accordance with the Safe Loading Pattern Requirements attached hereto and incorporated herein as Exhibit 2.
			
	9.	  	Termination	  	This SOW is subject to termination at any time during the Term with no less than thirty (30) days prior written notice to the other party in the event that (i) Buyer no longer offers the services contemplated herein or
(ii) Seller no longer possesses the Goods (as defined below).
			
	10.	  	Container Placement	  	Exhibit 4 is not applicable and is intentionally not attached. 

  
 2 

 

 
  

					
	 CONTRACT ELEMENT
	  	 SPECIFICS

			
	11.	  	Trailer Placement	  	The Parties shall execute the Trailer Placement Addendum attached hereto and incorporated herein as Exhibit 5. Seller’s use of the Trailers shall be subject to the terms and conditions of the Trailer Placement
Addendum.
			
	12.	  	Equipment Placement	  	Exhibit 6 is not applicable and is intentionally not attached.
			
	13.	  	Document Destruction	  	Exhibit 7 is not applicable and is intentionally not attached.
			
	14.	  	Storage	  	Exhibit 8 is not applicable and is intentionally not attached.
			
	15.	  	Transload	  	Exhibit 9 is not applicable and is intentionally not attached.
			
	16.	  	Fees	  	Seller shall be assessed monthly fee(s) (“Fee(s)”), as described below:
			
		  		  	☒ Trash Disposal                           $[***] per ton (Eastover and Sumter)
			
		  		  	 ☒ Handling
                                   $[***] per pickup (Eastover)

 

                          
                              $[***] per pickup (Sumter)

			
		  		  	The parties agree the Fee(s) shall be deducted from any amounts due to Seller under the terms of the SOW. The parties agree to review the Fees annually and adjust either up or down on changes in (i) inflation as demonstrated by
the Consumer Price Index or (ii) changes in costs to Buyer. INTERNATIONAL PAPER IS PROVIDING NO WARRANTY WITH REGARD TO ITEMS OR PERFORMANCE LISTED IN THIS SECTION. 

  

			
	SELLER: SYLVAMO NORTH AMERICA, LLC	  	BUYER: INTERNATIONAL PAPER COMPANY
		
	By: /s/ Patrick
Wilczynski                                        
                	  	By: /s/ Charles
Hairston                                        
    
	Print Name: Patrick Wilczynski	  	Print Name: Charles Hairston
	Title: SVP, Operational Excellence	  	Title: VP Recycling and Recovery Fiber

  
 3 

 

 
  

 EXHIBIT 1: SELLER’S DESIGNATED LOCATION, GRADES, VOLUME, SHIPPING, PURCHASE PRICING FORMULA 

[***] 

  
 4 

 

 
  

 ADDENDUM B: STANDARD TERMS AND CONDITIONS (RMMPA) 

 

 1. APPLICABILITY. These terms and conditions of sale (“Terms”) are the only Terms that
govern the purchase of the defined Goods by Buyer from Seller. Unless otherwise provided for in a written agreement executed by Buyer and Seller, these Terms, including any accompanying confirmation or purchase order (collectively, this
“Agreement”) comprise the entire Agreement between the parties, and supersede all prior or contemporaneous understandings, agreements, negotiations, representations and warranties, and communications, both written and oral. These Terms
prevail over any of Seller’s general terms and conditions of sale regardless whether or when Seller has submitted its invoice or such terms. Payment of Seller’s invoice does not constitute acceptance of any of Seller’s terms and
conditions and does not serve to modify or amend these Terms. 
 2. SCOPE. The terms of this Agreement apply only to the purchase or sale of
Goods or Services between Seller and International Paper’s Recycling Business Unit. The terms of this Agreement do not apply to any other purchase or sale of Goods or Services between Seller and any other International Paper business unit. 

3. CURRENCY; TERMS OF PAYMENT. All purchase prices are expressed in US Dollars (”US Dollar Purchase Price”). Buyer may pay all
amounts due under this Agreement, including the purchase price and indemnification or other amounts owed under this Agreement, in US Dollars. Unless otherwise agreed, Buyer shall pay for Goods on or before the last day of the calendar month after
the month in which they were received. Any fees and amounts owed by Seller to Buyer may be offset by Buyer. 
 4. TITLE; RISK OF LOSS. Title
and risk of loss shall pass from Seller to Buyer upon: (a) departure from Seller’s Designated Location if Buyer designates the carrier or picks up the Goods or (b) delivery to Buyer’s designated location if Seller designates or
provides the carrier. Under no circumstances shall title to Hazardous Materials or Restricted Materials (as defined in the Agreement)

 pass from Seller to Buyer and such title shall always remain with Seller. 

5. INSURANCE. Seller, or Seller’s respective subcontractors, affiliates, agents, and assigns delivering to an International
Paper facility shall, prior to commencing operations hereunder: 
 (a) Maintain at its own cost adequate insurance coverage, purchased on a primary and non-contributory basis, from an insurer with at minimum an A.M. Best’s Credit Rating of A-, VII or equivalent covering its business interests, property and employees and
its obligations hereunder. Seller shall maintain, at minimum, the following types and amounts of coverage on policies on an “occurrence” basis: (i) Worker’s Compensation Insurance (or qualification as a self-insurer) covering its
employees, owner(s), partners and/or executive officers in amounts (1) as required by state law where Seller’s operations are performed, or (2) if no amount is required by state law, in amounts reasonably acceptable to Buyer. The
insurance required under this section shall bear an endorsement evidencing a waiver of the right of subrogation against Buyer and an assignment of statutory lien, if applicable; (ii) Commercial General Liability Insurance covering bodily
injury, personal injury, and property damage, including products/completed operations liability and contractual liability coverage, with per occurrence limits of not less than $1,000,000 and an aggregate limit of not less than $1,000,000; (iii)
Employer’s Liability Insurance coverage with limits not less than $500,000 each accident, $500,000 disease – policy limit and $500,000 disease – each employee; and if operating commercial vehicles, (iv) Commercial Automobile
Liability Insurance with a limit of not less than $1,000,000 and an aggregate limit of not less than $1,000,000 on any owned, non-owned, or hired vehicle. If Seller does not own, operate or use its own
trucking or hauling services in the performance of its obligations under this Agreement, but uses contracted services for the delivery of Goods to Buyer, then Seller shall also maintain Truck Broker Liability coverage or similar type of coverage of
not less than $1,000,000. 

 (b) Agree to name Buyer as an “Additional Insured” for full limits of insurance coverage, including
but not limited to any excess coverage purchased and obtain a waiver of subrogation in Buyer’s favor on its Commercial General Liability, Commercial Automobile Liability or Truck Broker Liability policies. Seller will provide Buyer with copies
of policy endorsements evidencing Additional Insured requirements and waivers of subrogation thereunder from each insurer. If Seller uses external carriers or subcontractors to perform such delivery services on behalf of Seller, then Seller shall
require that all such carriers or subcontractors obtain and maintain adequate insurance coverage with at minimum coverage types and limits as set forth in this Section 5, including Workers Compensation Insurance. Seller shall obtain from such
carriers and subcontractors evidence of such insurance coverage and make the same available for Buyer’s review upon request. 
 (c) Provide to Buyer a
certificate of insurance, bearing applicable endorsements evidencing that Seller is maintaining the coverage provided in this Section. If Seller receives notice from its insurance company of any cancellation or any material change of such insurance
policies required hereunder, Seller shall promptly provide Buyer with a copy of any such notice. 
 6. WARRANTY. Seller warrants to Buyer that,
at the time title passes to Buyer: (i) the Goods conform to the specifications described in the most recently published ISRI Scrap Specifications Circular or required by the receiving mill, if applicable, and communicated in writing to Seller
by Buyer, (ii) Buyer has marketable title to the Goods free of all lawful liens and encumbrances, and (iii) the Goods shall be free of all Hazardous Materials and Restricted Materials, where “Hazardous Materials” is defined as
any toxic, hazardous, dangerous, or restricted substance or waste, including medical waste, petroleum, any byproducts or fractions thereof, polychlorinated

 

  
 5 

 

 
  

 
biphenyls (PCBs), urea formaldehyde foam insulation, asbestos, radioactive substances, poly-aromatic hydrocarbons, pesticides, and any other substances regulated by, and identified as
“hazardous” by, federal, state, local or municipal laws, regulations, rules, and codes, and any judicial or administrative interpretation thereof, on the basis of their actual or potential adverse effect on human health and/or the
environment and “Restricted Materials” is defined as any material containing readable information whose public disclosure is restricted or prohibited by law or regulation, including, without limitation, information regulated under the
Health Insurance Portability and Accountability Act (HIPAA), Fair and Accurate Credit Transactions Act (FACTA), Gramm-Leach-Bliley Act, Social Security numbers, bank account or credit card numbers, medical or personnel records, confidential or
classified information. 
 7. INSPECTION; NON-CONFORMING GOODS; LIABILITY. Buyer shall have the
right to inspect, accept or reject the Goods at any time for conformance with applicable specifications. Buyer shall give Seller notice of any non-conforming Goods within thirty (30) days of discovery of
defect. If Seller does not object in writing to Buyer’s determination of non-conformity within two (2) days, Seller shall: (1) properly handle, remove and dispose of any and all non-conforming Goods identified by Buyer, unless Buyer has already done so in order to avoid additional cost, contamination or liability, and (2) refund the portion of the price paid with respect to such non-conforming Goods and pay all costs associated with the handling, removal, storage, disposal, inspection, testing and clean up of such non-conforming Goods or, at
Buyer’s option, Buyer may credit or offset such amounts against payments to Seller. If no rejection has been made within such 30-day period, Buyer shall be deemed to have finally and unconditionally
accepted the Goods, except with respect to Hazardous and Restricted Materials, in which case no time limitation shall apply. 
 8. MINIMUM LOAD
WEIGHT; CHARGE BACK. Seller agrees to provide minimum truckload weight as designated by Buyer (“Minimum

 Weight”). Truckload weight shall be defined as the total net weight of the Goods based on Buyer’s
scale (“Load Weight”). If the Load Weight is less than the required Minimum Weight, Buyer may charge back Seller the freight costs associated with the difference between the Load Weight and the Minimum Weight. 

9. EXCUSE OF PERFORMANCE. No liability shall result from delay in performance caused by circumstances beyond the control of the party affected,
including but not limited to, act of God, fire, flood, war, government action, accident, labor trouble or shortage, inability to obtain material, equipment or transportation. 

10. TERMINATION. Either party may terminate this Agreement if the other party fails to cure any default in the performance of any covenant
or obligation under this Agreement within thirty (30) days after written notice. This Agreement will terminate immediately and automatically if either party files a voluntary petition in bankruptcy, or enters into an arrangement with its
creditors, or applies for consents to the appointment, or suffers or permits the entry of an order adjudicating it to be bankrupt or insolvent. 
 11.
PROPERTY DAMAGE. Seller shall be responsible for any damage to Buyer’s property to the extent caused by any negligent act, negligent omission, or willful misconduct of Seller or Seller’s respective parent company, affiliates,
agents, employees, officers, directors, successors, and assigns Any damage shall be reported to International Paper immediately. Seller will pay Buyer the full current repair or replacement cost of such property within thirty (30) days after
its loss or damage. 
 12. INDEMNIFICATION. Seller and Buyer (“Indemnitor”) each agrees to indemnify and hold the other and its
respective parent company, affiliates, agents, employees, officers, directors, successors, and assigns (“Indemnitee”) harmless, against any and all third-party claims, damages, fines, penalties, costs, liabilities or losses (including sums
paid in settlement of claims, reasonable attorneys’ fees, consultant fees, expert fees and costs) (“Claim”) arising out of Indemnitor’s negligence or other tort, including that of its officers, employees, contractors, agents and
subcontractors, 

 except that no right of indemnity shall exist in that portion of such Claim resulting from the fault of
Indemnitee, its officers, employees, contractors, agents and subcontractors, or if the Indemnitor has relied on the express written approval, acceptance or instructions of Indemnitee with respect to the act or omission giving rise to the Claim.
Indemnitee shall, within ten (10) calendar days after receipt of notice of the commencement of any third party Claim against Indemnitee, for which indemnity may be sought, notify Indemnitor; provided, however, that the failure to provide
such notice shall not relieve Indemnitor of its indemnity obligations, unless the Indemnitor is prejudiced by such delay. Unless otherwise agreed, Indemnitor shall assume the defense of any such Claim with reputable counsel. Indemnitee will
cooperate with Seller in the defense of such action as Seller may reasonably request. Buyer shall have the right to participate in such defense and any related settlement discussions, but at its own cost and expense. 

13. LIMITATION ON LIABILITY. Except set forth in other sections of this Agreement, neither party shall be liable to the other for incidental,
consequential, punitive or exemplary damages whether in tort, contract, breach of this agreement or any warranty or any other theory. 
 14.
WAIVER. The failure of either party to insist in any one or more instances upon strict performance of any of the provisions of the Agreement or to take advantage of any of its rights shall not operate as a continuing waiver of such rights.

 15. NO INTENDED THIRD-PARTY BENEFICIARIES. There are no intended third-party beneficiaries of this Agreement. 

16. ASSIGNMENT. This Agreement may be assigned by Buyer and shall pass in full force and effect to any successor in interest to Buyer. 

17. GOVERNING LAW; VENUE; NOTICES. This AGREEMENT shall be governed by the laws of the State of Tennessee, without reference to choice of law
rules or to the Convention on Contracts for the International Sale of Goods. Any dispute arising under, in connection with, or incident to this

 

  
 6 

 

 
  

 
Agreement or about its interpretation will be resolved exclusively in in the state courts for Shelby County, Tennessee or the federal courts for the Western District of Tennessee. Seller
irrevocably submits to those courts’ venue and jurisdiction. Seller waives all defenses of lack of personal jurisdiction and forum non-conveniens. A final judgment in any such suit or action may be
enforced in other jurisdictions by suit on the judgment or in any other manner provided by Law. All notices shall be deemed sufficient if sent by U.S. mail addressed to the party at the place of business referred to above, with copy to 6400
Poplar Avenue, Memphis, TN 38197, Attn: General Counsel—Containerboard. 
 18. COMPLIANCE WITH LAWS, RULES AND REGULATIONS. Seller shall comply
with all applicable laws, regulations and ordinances and shall maintain in effect all the licenses, permissions, authorizations, consents and permits that it needs to carry out its obligations under this Agreement. 

19. POLICY COMPLIANCE. Seller agrees to comply with and require its employees, contractors and agents to comply with Buyer’s Third Party
Code of Conduct, as well as Buyer’s policies, rules and directions regarding safety, security and appropriate conduct on Buyer’s premises or delivery points and toward Buyer’s employees. Buyer’s Third Party Code of Conduct is
attached hereto as Exhibit 3 and may also be found at: 
 http://www.internationalpaper.com/
company/suppliers/third-party-code-of-conduct 
 Seller shall be responsible for notifying any of Seller’s
parent, subsidiary and affiliated companies of this Third Party Code of Conduct and its expectations. 
 20. SAFETY. Seller and its
subcontractors shall comply with all local, state, and federal health and

 
safety laws and regulations applicable to Seller in the performance of its services hereunder, including, but not limited to the Occupational Safety and Health Act of 1970 and its amendments and
regulations. While on Buyer’s premises, Seller and its subcontractors shall comply with Buyer’s site-specific regulations and shall ensure that all of its employees, subcontractors and agents have a safe work environment. Seller shall
establish and instruct its employees in good practices of safety and hygiene and enforce observance of the same. Seller shall comply with all standards set forth by OSHA Hazard Communications Standard. Seller is solely responsible for the safety of
Seller’s employees or subcontractors and the means and methods employed by its employees or subcontractors in performing the services contemplated herein, and agree that Buyer shall have no such responsibility. In the event an employee of
Seller or one of its subcontractors is injured while on Buyer’s premises, Seller shall (i) immediately notify Buyer of the time, nature, and severity of the injury, (ii) at its own cost and expense cause to be performed an
investigation into the “root cause” of the injury by a competent investigator, and (iii) provide Buyer with a copy of the investigation report. The report shall include an explanation of causation of the accident and the steps Seller
or its subcontractor is taking to avoid a similar accident from occurring. Seller shall also provide Buyer with periodic updates on the recovery of the injured individual until such time as he or she returns to work. In the event Buyer elects to
perform its own investigation, or requests that a joint investigation be performed, Seller shall cooperate and actively assist in such an effort. In addition to the above, if an employee of Seller or one of its subcontractors experiences a
“near miss” that could have resulted in serious

 
injury while on Buyer’s premises, Seller shall investigate the incident and report to Buyer its findings and the steps that Seller will take to avoid a repeat incident. 

21. INDEPENDENT CONTRACTOR STATUS. Except as provided below, no relationship of employer-employee or master and servant is intended, nor shall it
be construed, to exist between Seller and Buyer, or between Buyer and any servant, agent, employee and/or supplier of Seller. Seller shall select and pay its own servants, agents, employees, suppliers and/or subcontractors and neither Seller nor its
servants, agents, employees, suppliers or subcontractors shall be subject to any orders, supervision or control of Buyer. 
 In Louisiana, for work and/or
services performed by Seller at Buyer’s owned or leased sites, it is further agreed between Seller and Buyer that the work being performed by Seller is part of Buyer’s trade, business or occupation, and the work performed by Seller
pursuant to this Agreement is an integral part of and essential to the ability of Buyer to generate Buyer’s goods, products and/or services. Accordingly, pursuant to La. R.S. 23:1061, Buyer is the statutory employer of Seller’s employees,
including both direct and statutory employees, performing work under this Agreement. Seller assumes full responsibility for supervising and directing its employees. 

22. MODIFICATION; MERGER. These Terms and Conditions may be modified or revised only by a writing signed by authorized agents of the parties.
Unless the goods covered by this Agreement are the subject of a written contract between the parties, the Agreement, including these Terms and Conditions, shall constitute the entire agreement between the parties and there are no understandings,
agreements or representations, express or implied, not specified herein. 

 

  
 7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00333-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00333-of-00352.parquet"}]]