Document:

exv4w2

 

Exhibit 4.2

Execution Copy

REGISTRATION RIGHTS AGREEMENT

      This REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of March 15, 2005 by
and between ACCO World Corporation, a Delaware corporation (the “Company”), and Lane
Industries, Inc., a Delaware corporation (the “Stockholder”).

RECITALS

      WHEREAS, concurrently with the execution of this Agreement, Fortune Brands, Inc., a Delaware
corporation (“Fortune”), the Company, Gemini Acquisition Sub, Inc., a Delaware corporation
and a wholly-owned subsidiary of the Company (“Acquisition Sub”), and General Binding
Corporation, a Delaware corporation (“GBC”), have entered into an Agreement and Plan of
Merger (as amended in accordance with its terms, the “Merger Agreement”; capitalized terms
used but not defined herein shall have the meanings set forth in the Merger Agreement) providing
for, among other things, the merger of Acquisition Sub with and into GBC (the “Merger”)
with GBC being the surviving corporation;

      WHEREAS, the Stockholder owns, beneficially and of record, shares of GBC Common Stock and GBC
Class B Common Stock (such shares of GBC Common Stock and GBC Class B Common Stock, together with
any other shares of GBC Common Stock and GBC Class B Common Stock of which the Stockholder acquires
beneficial or record ownership after the date hereof and prior to consummation of the Merger,
whether upon the exercise of options, warrants or rights, the conversion or exchange of convertible
or exchangeable securities, or by means of purchase, dividend, distribution or otherwise, being
collectively referred to herein as the “GBC Shares”);

      WHEREAS, pursuant to the Merger Agreement (and subject to the terms and conditions thereof),
upon consummation of the Merger, the GBC Shares will be converted into the right to receive shares
of common stock, par value $.01 per share, of the Company (the “Company Common Stock”);

      WHEREAS, concurrently with the execution of this Agreement and as a condition to the
willingness of Fortune and the Company to enter into the Merger Agreement, Fortune, the Company and
the Stockholder have entered a Voting Agreement (the “Voting Agreement”); and

      WHEREAS, as a condition to, and in consideration of, the Stockholder’s willingness to enter
into the Voting Agreement, the Company and the Stockholder are entering into this Agreement;

      NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements
contained herein, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto hereby agree as follows:

 

 

      1. Definitions. Unless otherwise provided in this Agreement, capitalized terms used
herein shall have the following meanings:

      “Acquisition Sub” has the meaning set forth in the Recitals.

      “Agreement” has the meaning set forth in the preamble to this Agreement.

      “Company Common Stock” has the meaning set forth in the Recitals.

      “Commission” has the meaning set forth in Section 2.1.

      “Company” has the meaning set forth in the preamble to this Agreement.

      “Demand Registration” has the meaning set forth in Section 2.1.

      “Exchange Act” means the Securities Exchange Act of 1934, as amended.

      “Fortune” has the meaning set forth in the Recitals.

      “GBC” has the meaning set forth in the Recitals.

      “GBC Shares” has the meaning set forth in the Recitals.

      “Initial Demand” has the meaning set forth in Section 2.1.

      “Merger” has the meaning set forth in the Recitals.

      “Merger Agreement” has the meaning set forth in the Recitals.

      “Person” means any individual, corporation, association, limited liability company,
partnership, trust or estate, unincorporated organization, joint venture, a government or any
agency or political subdivision thereof, or any other entity of whatever nature.

      “Piggyback Registration” has the meaning set forth in Section 3.1.

      “Qualified Holders” means the holders of a majority of the Registrable Securities then
outstanding.

      “Registrable Securities” means (a) the Shares and (b) any shares of the Company Common
Stock issued or issuable with respect to any of the Shares by way of a stock dividend or stock
split or in connection with a combination of shares, recapitalization, merger, consolidation or
other reorganization. As to any particular Registrable Securities, such securities shall cease to
be Registrable Securities when (i) they have been distributed to the public pursuant to an offering
registered under the Securities Act or (ii) they have been sold to the public through a broker,
dealer or market maker in compliance with Rule 144 under the Securities Act (or any similar rule
then in force).

      “Securities Act” means the Securities Act of 1933, as amended.

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      “Shares” means the shares of the Company Common Stock to be issued to the Stockholder
upon the conversion of the GBC Shares in the Merger in accordance with the Merger Agreement.

      “Shelf Registration” has the meaning set forth in Section 2.1.

      “Stockholder” has the meaning set forth in the preamble to this Agreement.

      “Suspension Period” has the meaning set forth in Section 5.2.

      “Violation” has the meaning set forth in Section 7.1.

      “Voting Agreement” has the meaning set forth in the Recitals.

      2. Demand Registrations.

            2.1 Requests for Registration. At any time after the date that is 120 days following
the date on which the Effective Time occurs and prior to the eighteen month anniversary of the date
on which the Effective Time occurs, the Qualified Holders may, subject to Sections 2.2 and
2.4, request registration under the Securities Act of up to 50% of the Registrable Securities
(the “Initial Demand”). In addition to the Initial Demand, prior to the fifth anniversary
of the date on which the Effective Time occurs and following the earlier of (x) the Initial Demand
or (y) the eighteen month anniversary of the date on which the Effective Time occurs, the Qualified
Holders may, subject to Sections 2.2 and 2.4, request two additional registrations under
the Securities Act of all or any portion of their Registrable Securities (the Initial Demand and
each such additional registration request, a “Demand Registration”); provided,
however that the Company shall not be obligated to effect any Demand Registration unless
the Qualified Holders request that the Company register Registrable Securities representing at
least 2% of the outstanding Company Common Stock. Each request for a Demand Registration shall
specify the number of Registrable Securities requested to be registered and the intended method of
distribution. Within ten days after receipt of any such request, the Company shall give written
notice of such requested registration to all other holders of Registrable Securities and, subject
to Section 2.3, shall include as part of such Demand Registration all Registrable
Securities with respect to which the Company has received written requests for inclusion therein
within 15 days after the receipt of the Company’s notice by such holders. If the Company is
eligible to file on Form S-3 (or any successor form), the holders of a majority of the Registrable
Securities which are included in a Demand Registration may require that such Demand Registration be
filed with the Securities and Exchange Commission (the “Commission”) in accordance with and
pursuant to Rule 415 promulgated under the Securities Act (or any successor rule then in effect) (a
“Shelf Registration”).

            2.2 Limitations on Demand Registrations. A registration requested pursuant to this
Agreement shall be deemed to have been effected for purposes of Section 2.1 if (i) it has been
declared effective by the Commission, (ii) at least 90% of the Registrable Securities requested to
be included in such registration shall have been registered and, except in the case of a Shelf
Registration, sold, (iii) it has not failed to remain effective for the period set forth in

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Section 5.2 and (iv) the offering of Registrable Securities pursuant to such registration has
not been subject to any stop order or injunction or other order or requirement of the Commission
lasting more than forty-five (45) days and preventing the offering of Registrable Securities
thereunder.

            2.3 Priority on Demand Registrations. If a Demand Registration is an underwritten
offering and the managing underwriters advise the Company in writing, with a copy to be delivered
to the Qualified Holders, that, in their opinion, the number of Registrable Securities requested to
be included in such offering, and other securities requested to be included in such offering,
exceeds the largest number of securities which can be sold therein without adversely affecting the
marketability of the offering and within a price range reasonably acceptable to the holders of a
majority of the Registrable Securities requested to be registered, the Company shall first include
in such registration, prior to the inclusion of any securities which are not Registrable
Securities, the Registrable Securities requested to be included which in the opinion of such
underwriters can be sold without adversely affecting the marketability of the offering, pro
rata among the respective holders thereof on the basis of the amount of Registrable
Securities owned by each such requesting holder.

            2.4 Restrictions on Registration. The Company shall not be obligated to effect any
Demand Registration within 180 days after the effective date of (a) a previous Demand Registration
or (b) a Piggyback Registration in which the holders of Registrable Securities participate pursuant
to Section 3 and in which at least 75% of the Registrable Securities requested by such holders to
be included are included. The Company may postpone or suspend, as applicable, for no more than two
periods in any 12-month period aggregating not more than 90 days in such 12-month period the
filing, effectiveness or use of a registration statement for a Demand Registration (and the holders
of Registrable Securities participating in such offering hereby agree not to offer or sell any
Registrable Securities pursuant to such registration statement during such postponement or
suspension), pursuant to this Section 2.4 or clause (iii) of Section 5.2, if the
Company determines in good faith that such filing or effectiveness might (a) interfere with or
adversely affect the negotiation or completion of any material transaction or other material event
that is being contemplated by the Company or (b) involve initial or continuing disclosure
obligations relating to a material event or material state of facts regarding the Company the
disclosure of which would, in the reasonable judgment of the Company, be adverse to its interests;
provided, that, in the event of such a postponement of registration, the holders of
Registrable Securities initially requesting such Demand Registration shall be entitled to withdraw
such request and, if such request is withdrawn, such Demand Registration shall not count as one of
the permitted Demand Registrations hereunder. In the event the Company shall exercise its
postponement or suspension rights hereunder, the applicable time period during which a registration
statement is to remain effective under Section 5.2 shall be extended by a period of time
equal to the duration of such postponement or suspension. The number and length of suspension and
postponement periods in any 12-month period under this Section 2.4 shall be aggregated with
the number and the length of Suspension Periods under clause (iii) of Section 5.2, such
that the Company shall not be permitted to postpone or suspend, for more than two periods in any
12-month period aggregating not more than 90 days in such 12-month period the filing, effectiveness
or use of a registration statement for a Demand Registration pursuant to Section 2.4 and/or
clause (iii) of Section 5.2 taken together.

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            2.5 Selection of Underwriters. In the event that any public offering pursuant to a
Demand Registration shall involve, in whole or in part, an underwritten offering, (a) the Company
shall have the right to designate a nationally recognized underwriter or underwriters as the lead
or managing underwriter(s) of such underwritten offering who shall be reasonably acceptable to the
holders of a majority of the Registrable Securities proposed to be sold in such underwritten
offering and (b) holders of a majority of the Registrable Securities proposed to be sold in such
underwritten offering shall have the right to designate a nationally recognized underwriter as the
co-lead or co-managing underwriter of such underwritten offering who shall be reasonably acceptable
to the Company. The Stockholder and the Company agree that if the Stockholder’s Registrable
Securities, or any portion thereof, are sold in any public offering involving, in whole or in part,
an underwritten offering, then the Stockholder and the Company will enter into a customary
underwriting agreement with the underwriter(s) selected pursuant to the preceding sentence.

      3. Piggyback Registrations.

            3.1 Right to Piggyback. Whenever prior to the eighth anniversary of the date on which
the Effective Time occurs the Company proposes to register Company Common Stock (for its own
account or for the account of any other holder of its securities) under the Securities Act (other
than pursuant to a Demand Registration which shall be governed by Section 2, and
registrations on Form S-4 or Form S-8 or on any successor or other form promulgated for similar
purposes or relating to a Rule 145 transaction) and the registration form to be used may be used
for the registration of Registrable Securities for sale to the public under the Securities Act (a
“Piggyback Registration”), the Company shall give prompt written notice to all holders of
Registrable Securities of its intention to effect such a registration and, subject to the terms
hereof, shall use commercially reasonable efforts to include in such registration all Registrable
Securities with respect to which the Company has received written requests for inclusion therein
(which request shall specify the number of Registrable Securities intended to be disposed of by
such Holder) within 21 days after such holders receive the Company’s notice; provided, that
(i) if, at any time after giving written notice of its intention to register any securities and
prior to the effective date of the registration statement filed in connection with such
registration, the Company shall determine for any reason not to proceed with the proposed
registration, the Company may, at its election, give written notice of such determination to each
holder of Registrable Securities and thereupon shall be relieved of its obligation to register any
Registrable Securities in connection with such registration and (ii) if such registration involves
an underwritten offering by the Company, all holders requesting to be included in the Company’s
registration must sell their Registrable Securities to such underwriters who shall have been
selected by the Company on the same terms and conditions as apply to the Company, with such
differences, including any with respect to indemnification and contribution, as may be customary or
appropriate in combined primary and secondary offerings.

            3.2 Priority on Primary Registrations. If a Piggyback Registration is an underwritten
primary offering on behalf of the Company, and the managing underwriters advise

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the Company in writing that in their opinion the number of securities requested to be included
in such offering exceeds the largest number of securities which can be sold therein without
adversely affecting the marketability of the offering and within a price range reasonably
acceptable to the Company, the Company shall include in such registration (a) first, the securities
the Company proposes to sell, (b) second, the Registrable Securities requested to be included in
such registration, pro rata among the respective holders thereof on the basis of
the amount of Registrable Securities owned by each such holder and (c) third, other securities
requested to be included in such registration.

            3.3 Priority on Other Registrations.

            (a) If, prior to the fifth anniversary of the date on which the Effective Time occurs, a
Piggyback Registration is an underwritten secondary offering on behalf of holders of the Company’s
securities other than holders of Registrable Securities, and the managing underwriters advise the
Company in writing that in their opinion the number of securities requested to be included in such
offering exceeds the largest number of securities which can be sold in such offering without
adversely affecting the marketability of the offering and within a price range reasonably
acceptable to the holders of the Company’s securities requesting such registration other than the
holders of Registrable Securities, the Company shall include in such registration (a) first, the
securities requested to be included therein by the holders requesting such registration and the
Registrable Securities requested to be included in such registration, pro rata
among the holders of all such securities (including the securities of the requesting holders and
the holders of Registrable Securities) on the basis of the number of securities of the Company
owned by each such holder and (b) second, other securities requested to be included in such
registration; provided, however, that in no event shall the Company grant to any
third party, after the date hereof, registration rights that have a higher priority than the demand
registration rights granted herein (“Superior Registration Rights”).

            (b) If, after the fifth anniversary of the date on which the Effective Time occurs and prior
to the eighth anniversary on the date on which the Effective Time occurs, a Piggyback Registration
is an underwritten secondary offering on behalf of holders of the Company’s securities other than
holders of Registrable Securities, and the managing underwriters advise the Company in writing that
in their opinion the number of securities requested to be included in such offering exceeds the
largest number of securities which can be sold in such offering without adversely affecting the
marketability of the offering and within a price range reasonably acceptable to the holders of the
Company’s securities requesting such registration other than the holders of Registrable Securities,
the Company shall include in such registration (a) first, the securities requested to be included
therein by the holders requesting such registration and (b) second, the Registrable Securities
requested to be included in such registration and any other securities requested to be included in
such registration, pro rata among the holders of all such securities (including the
securities of the holders of Registrable Securities) on the basis of the number of securities of
the Company owned by each such holder.

            3.4 Selection of Underwriters. The Company shall have the right to select the
investment banker(s) and/or manager(s) to administer the offering in connection with any Piggyback
Registration.

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            3.5 Other Agreements. Each holder of Registrable Securities agrees that they will
execute such other customary agreements as the Company may reasonably request to further accomplish
the purposes of this Section 3.

      4. Holdback Agreements. Upon the written request of the underwriters managing an
underwritten registered public offering of the Company Common Stock pursuant to a Demand
Registration or a Piggyback Registration, in each case in which Registrable Securities are
included, the holders of Registrable Securities shall not effect any public sale or distribution
(including sales pursuant to Rule 144) of equity securities of the Company, or any securities
convertible into or exchangeable or exercisable for such securities, during the 7 days prior to,
and during the 90-day period beginning on, the effective date of such Demand Registration or
Piggyback Registration.

      5. Registration Procedures. Whenever the holders of Registrable Securities have
properly requested that any Registrable Securities be registered pursuant to this Agreement, the
Company shall use commercially reasonable efforts to effect the registration under the Securities
Act of the sale of such Registrable Securities in accordance with the intended method of
disposition thereof, and pursuant thereto the Company shall as expeditiously as possible:

            5.1 prepare and file with the Commission a registration statement and such amendments and
supplements as may be necessary with respect to such Registrable Securities and, subject to the
postponement and suspension provisions of Sections 2.4 and 5.2, use its commercially reasonable
efforts to cause such registration statement to become effective, provided that the Company may
delay or discontinue any registration of its securities which is being effected pursuant to Section
3 at any time prior to the effective date of the registration statement relating thereto, and
provided further that the Company shall not be required to cause the Initial Demand to become
effective prior the date that is 180 days following the date on which the Effective Time occurs;

            5.2 notify each holder of Registrable Securities of the effectiveness of each registration
statement filed hereunder and, in the case of a Demand Registration, prepare and file with the
Commission such amendments and supplements to such registration statement and the prospectus used
in connection therewith as may be necessary to keep such registration statement effective for a
period of not less than 180 days (or until the distribution described in the registration statement
has been completed or such lesser period of time as the Company or any seller may be required under
the Securities Act to deliver a prospectus in connection with any sale of Registrable Securities
and to comply with the provisions of the Securities Act with respect to the disposition of all
securities covered by such registration statement during such period in accordance with the
intended methods of disposition by the sellers set forth in such registration statement) (or, in
the case of a Shelf Registration, a period ending on the earlier of (a) the date on which all
Registrable Securities have been sold pursuant to the Shelf Registration or have otherwise ceased
to be Registrable Securities, and (b) the 24-month anniversary of the effective date of such Shelf
Registration) and use its commercially reasonable efforts to comply with the provisions of the
Securities Act with respect to the disposition of securities covered by such registration statement
during such period in accordance with the intended methods of disposition by the sellers thereof
set forth in such registration statement; provided, however, that

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at any time, upon written notice to the participating holders of Registrable Securities, the
Company may suspend the use or effectiveness of any registration statement (and the holders of
Registrable Securities participating in such offering hereby agree not to offer or sell any
Registrable Securities pursuant to such registration statement during the Suspension Period) upon
and continuing until the discontinuation of (i) the issuance by the Commission of a stop order with
respect to such registration statement or the initiation of proceedings with respect to such
registration statement under Section 8(d) or 8(e) of the Securities Act, (ii) the occurrence of any
event or the existence of any fact as a result of which (A) any registration statement shall
contain any untrue statement of a material fact or omit to state any material fact required to be
stated therein or necessary to make the statements therein not misleading or (B) any prospectus
included in any such registration statement shall contain any untrue statement of a material fact
or omit to state any material fact required to be stated therein or necessary to make the
statements therein, in the light of the circumstances under which they were made, not misleading or
(iii) the occurrence or existence of any pending corporate development, including without
limitation any such development that may (y) interfere with or adversely affect the negotiation or
completion of any material transaction or other material event that is being contemplated by the
Company or (z) involve initial or continuing disclosure obligations relating to a material event or
material state of facts regarding the Company the disclosure of which would, in the reasonable
judgment of the Company, be adverse to its interests, that, in the reasonable discretion of the
Company, makes it appropriate to suspend the availability of any registration statement and the
related prospectus (each of (i), (ii) and (iii) above is hereinafter referred to as a
“Suspension Period”); provided that the duration of a Suspension Period under
subsection (ii) (unless caused by a development covered by clause (iii) above) shall not extend
beyond the time that is necessary for the Company to prepare an amendment or supplement to such
registration statement or prospectus necessary to cure the defects thereto; it being agreed, that
the Company shall promptly prepare such amendment or supplement; provided further
that, in the case of Demand Registrations, the Company’s right to suspend under clause (iii) above
shall be subject to the restrictions on the number and length of any suspensions or postponements
in any 12-month period set forth in Section 2.4 and shall be aggregated with the number and
the length of suspension and postpone periods under Section 2.4, such that the Company
shall not be permitted to postpone or suspend, for more than two periods in any 12-month period
aggregating not more than 90 days in such 12-period the filing, effectiveness or use of a
registration statement for a Demand Registration pursuant to Section 2.4 and/or clause
(iii) of this Section 5.2 taken together. In the event that the Company shall exercise its
rights hereunder, the applicable time period during which the registration statement is to remain
effective (in the case of a Demand Registration) shall be extended by a period of time equal to the
duration of the Suspension Period;

            5.3 furnish to each seller of Registrable Securities such number of copies of such
registration statement, each amendment and supplement thereto, the prospectus included in such
registration statement (including each preliminary prospectus) and such other documents as such
seller may reasonably request in order to facilitate the disposition of the Registrable Securities
owned by such seller;

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            5.4 use commercially reasonable efforts to register or qualify such Registrable Securities
under such other securities or blue sky laws of such jurisdictions as may be reasonably requested
by any such seller and do any and all other reasonable acts and things which may be necessary or
reasonably advisable to enable such seller to consummate the disposition in such jurisdictions of
the Registrable Securities owned by such seller (provided, however, that the
Company shall not be required to (a) qualify generally to do business in any jurisdiction where it
would not otherwise be required to qualify but for this subsection, (b) subject itself to taxation
in any such jurisdiction or (c) consent to general service of process in any such jurisdiction);

            5.5 promptly notify each seller of such Registrable Securities, at any time when a prospectus
relating thereto is required to be delivered under the Securities Act, of the happening of any
event as a result of which the prospectus included in such registration statement contains an
untrue statement of a material fact or omits any material fact necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading, and, at the
request of any such seller, the Company shall promptly prepare a reasonable number of copies of a
supplement or amendment to such prospectus so that, as thereafter delivered to the sellers of such
Registrable Securities, such prospectus shall not contain an untrue statement of a material fact or
omit to state any material fact necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading, in which event the periods mentioned in
Section 5.2 shall be extended by the length of the period from and including the date when each
seller of such Registrable Securities shall have received such notice to the date on which each
such seller has received the copies of the supplemented or amended prospectus contemplated under
this Section 5.5;

            5.6 use commercially reasonable efforts to cause all such Registrable Securities to be listed
on each securities exchange and/or quotation system on which the Company Common Stock is then
listed and/or quoted;

            5.7 provide a transfer agent and registrar for all such Registrable Securities not later than
the effective date of such registration statement;

            5.8 in the case of an underwritten offering, enter into such customary agreements (including
underwriting agreements in customary form) and take all such other actions as the underwriters, if
any, reasonably request in order to expedite or facilitate the disposition of such Registrable
Securities, except to the extent any such agreement or other action would materially interfere with
the conduct of the Company’s business;

            5.9 in the case of an underwritten offering, make available for inspection by any seller of
Registrable Securities, any underwriter participating in any disposition pursuant to such
registration statement, and any attorney, accountant or other agent retained by any such seller or
underwriter, at the offices where normally kept, during normal business hours, all pertinent
financial and other records, pertinent corporate documents and properties of the Company, and cause
the Company’s officers, employees and independent accountants to supply all information reasonably
requested by any such seller, underwriter, attorney, accountant or agent in connection with such
registration statement, in each case as is necessary or reasonably

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advisable (based on the reasonable advice of their respective counsel) to enable such seller
or underwriter to exercise their due diligence responsibilities and defenses under the Securities
Act; provided, however, that (i) such sellers shall have entered into a customary
confidentiality agreement reasonably acceptable to the Company and (ii) such sellers shall use
their reasonable best efforts to minimize the disruption to the Company’s business and coordinate
any such investigation of the books, records and properties of the Company and any discussions with
the Company’s officers and accountants so that all such investigations occur at the same time;

            5.10 otherwise use commercially reasonable efforts to comply with all applicable rules and
regulations of the Commission, and make available to its security holders, as soon as reasonably
practicable, an earnings statement covering the period of at least twelve months beginning with the
first day of the Company’s first full calendar quarter after the effective date of the registration
statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities
Act and Rule 158 thereunder;

            5.11 in the event of the issuance of any stop order suspending the effectiveness of a
registration statement, or of any order suspending or preventing the use of any related prospectus
or suspending the qualification of any Company Common Stock included in such registration statement
for sale in any jurisdiction, the Company shall use its commercially reasonable efforts promptly to
obtain the withdrawal of such order;

            5.12 use its commercially reasonable efforts to cause such Registrable Securities covered by
such registration statement to be registered with or approved by such other governmental agencies
or authorities as may be necessary to enable the sellers thereof to consummate the disposition of
such Registrable Securities; and

            5.13 take such other actions reasonably requested by the sellers of Registrable Securities as
are necessary or reasonably advisable in order to facilitate and/or expedite the registration and
disposition of any Registrable Securities pursuant to the terms of this Agreement.

      6. Registration Expenses. All expenses incident to the Company’s performance of or
compliance with this Agreement (whether with respect to a Demand Registration or Piggyback
Registration), including, without limitation, all registration and filing fees (including the fees
of the National Association of Securities Dealers, Inc. and the Commission’s registration fees),
fees of any transfer agent and registrar, fees and expenses of compliance with securities or blue
sky laws, printing expenses, reasonable “road show” or other marketing expenses (provided that this
Section 6 shall not adversely affect the Company’s arrangements with any underwriters), fees and
disbursements of counsel for the Company, reasonable fees and disbursements of one counsel
(reasonably acceptable to the Company) chosen by the holders of a majority of the Registrable
Securities included in such registration, fees and expenses of the Company’s independent certified
public accountants (including the fees and expenses of any comfort letters required by or incident
to the performance and compliance with this Agreement), fees and expenses of underwriters
(excluding discounts and commissions attributable to the Registrable Securities included in such
registration), the Company’s internal expenses and the expenses and fees for listing the securities
to be registered on each securities exchange or quotation system on

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which similar securities issued by the Company are then listed or quoted, shall be borne by
the Company; provided, however, that the sellers of Registrable Securities shall
bear their own underwriting discounts or commissions, selling or placement agent or broker fees and
commissions, and transfer taxes, if any, in connection with the sales of securities by such
sellers.

      7. Indemnification.

            7.1 In connection with any Demand Registration or Piggyback Registration, the Company agrees
to indemnify, to the extent permitted by law, each holder of Registrable Securities to be offered
in such registration, the partners or officers, directors and equity holders of such holder, and
each Person who controls such holder (within the meaning of the Securities Act) against all losses,
claims, damages, liabilities (joint or several) and expenses (including legal or other expenses
reasonably incurred by any of them in connection with investigating or defending any such loss,
claim, damage or liability) incurred by such party arising out of, based upon or caused by any of
the following statements, omissions or violations (each, a “Violation”): (i) any untrue or
alleged untrue statement of material fact contained in any registration statement, prospectus or
preliminary prospectus incident to such registration or any amendment thereof or supplement
thereto, (ii) any omission or alleged omission of a material fact required to be stated therein or
necessary to make the statements therein, in light of the circumstances in which they were made,
not misleading, or (iii) any violation or alleged violation by the Company of the Securities Act,
the Exchange Act, any state securities laws or any rule or regulation promulgated under the
Securities Act, Exchange Act or any state securities laws incident to such registration;
provided, however, that the Company shall not be liable in any such case for any
such loss, claim, damage, liability or action to the extent that it is caused (x) by a Violation
that occurs in reliance upon and in conformity with any information furnished in writing to the
Company by such holder, and stated to be specifically for use in such registration or (y) by a
seller’s failure to deliver a copy of the relevant current prospectus or any amendments or
supplements thereto after the Company has furnished that seller or any underwriter with copies of
the same..

            7.2 In connection with any Demand Registration or Piggyback Registration in which a holder of
Registrable Securities is participating, each such holder agrees to indemnify, to the extent
permitted by law, the Company, its directors, officers, employees, affiliates, any other holder
selling securities in such Demand Registration or Piggyback Registration, and each Person who
controls the Company (within the meaning of the Securities Act) against all losses, claims,
damages, liabilities (joint or several) and expenses (including legal or other expenses reasonably
incurred by any of them in connection with investigating or defending any such loss, claim, damage
or liability) arising out of, based upon or caused by any Violation, to the extent, but
only to the extent, that such Violation is caused by any information furnished in writing by
such holder, and stated to be specifically for use in such registration; provided,
that, the obligation to indemnify shall be individual, not joint and several, for each
holder.

            7.3 Any Person entitled to indemnification hereunder shall (a) give prompt written notice to
the indemnifying party of any claim with respect to which it seeks indemnification (provided that
the failure to give prompt notice shall not impair any Person’s right to indemnification hereunder
to the extent such failure has not materially prejudiced the indemnifying party’s ability to defend
such claim), and (b) unless in the reasonable judgment

11

 

(with advice of counsel) of any indemnified party a conflict of interest between such
indemnified and indemnifying parties exists with respect to such claim, permit such indemnifying
party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified
party. If such defense is assumed, the indemnifying party shall not be subject to any liability
for any settlement made by the indemnified party without its consent (but such consent shall not be
unreasonably withheld). An indemnifying party who is not entitled to, or elects not to, assume the
defense of a claim shall be obligated to pay the fees and expenses of one counsel (but not more
than one) for all parties indemnified by such indemnifying party with respect to such claim.

            7.4 The indemnification provided for under this Agreement shall remain in full force and
effect regardless of any investigation made by or on behalf of the indemnified party or any
partner, officer, director or controlling Person of such indemnified party and shall survive the
transfer of securities.

            7.5 If the indemnification provided for under this Agreement is unavailable to an indemnified
party hereunder in respect of any losses, liabilities, claims, damages and expense referred to
herein, then the indemnifying party, in lieu of indemnifying such indemnified party, shall
contribute to the amount paid or payable by such indemnified party as a result of such losses,
claims, damages, liabilities or expenses in such proportion as is appropriate to reflect the
relative fault of the indemnifying party and indemnified parties in connection with the Violation
which resulted in such losses, claims, damages, liabilities or expenses, as well as any other
relevant equitable considerations. The relative fault of such indemnifying party and indemnified
parties shall be determined by reference to, among other things, whether any Violation has been
committed by, or relates to information supplied by, such indemnifying party or indemnified
parties, and the parties’ relative intent, knowledge, access to information and opportunity to
correct or prevent such Violation. The amount paid or payable by a party as a result of the
losses, claims, damages, liabilities and expenses referred to above shall be deemed to include any
legal or other fees or expenses reasonably incurred by such party in connection with any
investigation or proceeding. If the allocation provided in this paragraph is not permitted by
applicable law, the parties shall contribute based upon the relevant benefits received by the
Company from the offering of its securities on the one hand and the net proceeds received by the
holders of Registrable Securities from the sale of such Registrable Securities on the other.

            7.6 The parties hereto agree that it would not be just and equitable if contribution pursuant
to this Section 7 were determined solely by pro rata allocation or any other method of allocation
that does not take account of the equitable considerations referred to in the immediately preceding
paragraph. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f)
of the Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation.

            7.7 Notwithstanding anything in this Section 7 to the contrary, in connection with any Demand
Registration or Piggyback Registration, the indemnity and contribution obligations and liabilities
of each holder of Registrable Securities shall be limited to the net amount proceeds received by
such holder pursuant to such registration.

12

 

      8. Participation in Underwritten Registrations. No Person may participate in any
registration hereunder which is underwritten unless such Person (a) agrees to sell such Person’s
securities on the basis provided in any underwriting arrangements approved by the Company and (b)
completes and executes all questionnaires, powers of attorney and other documents reasonably
required under the terms of such underwriting arrangements; provided, that no holder of Registrable
Securities included in any underwritten registration shall be required to make any representations
or warranties to the Company or any underwriter (other than representations and warranties
regarding such holder and such holder’s intended method of distribution) or to undertake any
indemnification obligations to the Company or the underwriters with respect thereto, except to the
extent of the indemnification provided in Section 7.

      9. Rule 144 Reporting. With a view to making available the benefits of certain rules
and regulations of the Commission which may at any time permit the sale of any Registrable
Securities to the public without registration, the Company agrees to use commercially reasonable
efforts to:

            9.1 File, as and when applicable, with the Commission in a timely manner all reports and other
documents required of the Company under the Exchange Act;

            9.2 If the Company is not required to file reports pursuant to the Exchange Act, upon the
request of any holder of Registrable Securities, the Company shall make publicly available the
information specified in subparagraph (c)(2) of Rule 144 of the Securities Act; and

            9.3 So long as a holder owns any Registrable Securities, to furnish to the holder, upon
request and at such holder’s expense, a written statement by the Company as to its compliance with
the reporting requirements of Rule 144 of the Securities Act.

      10. Information by Sellers. The seller or sellers wishing to sell any Registrable
Securities in any registration shall furnish to the Company such information regarding such seller
or sellers and the distribution proposed by such seller or sellers as the Company may reasonably
request in writing and as shall be required in connection with any registration, qualification or
compliance referred to in this Agreement. Any seller of Registrable Securities pursuant to a
Demand Registration or a Piggyback Registration hereunder shall provide the Company with at least
one business day prior written notice of any intention to sell Registrable Securities over the
course of the subsequent 4-week period (it being understood that such sellers shall not be required
to provide notice of individual transactions intended to be effected during such 4-week period).

      11. Termination. This Agreement shall terminate and neither party hereto shall have
any further obligation to the other party under this Agreement upon the earlier to occur of (a) the
time when there shall be no Registrable Securities remaining or (b) the completion of the final
Demand Registration or Piggyback Registration permitted hereunder; provided,
however, that the obligations of the parties under Section 7 hereof shall continue until
the expiration of all applicable statutes of limitations.

13

 

      12. Miscellaneous.

            12.1 Effective Time. This Agreement shall not be effective until the Effective Time.
In the event that the Merger Agreement is terminated without consummation of the transactions
contemplated therein, this Agreement shall automatically terminate without any action on the part
of either party to this Agreement and neither party hereto shall have any liability or obligation
to the other party under this Agreement.

            12.2 No Inconsistent Agreements. The Company shall not hereafter enter into any
agreement with respect to its securities which is inconsistent with or violates the rights granted
to the holders of Registrable Securities in this Agreement.

            12.3 Remedies. Any Person having rights under any provision of this Agreement shall be
entitled to enforce such rights specifically to recover damages caused by reason of any breach of
any provision of this Agreement and to exercise all other rights granted by law. The parties
hereto agree and acknowledge that money damages are not an adequate remedy for any breach of the
provisions of this Agreement and that any party may apply for specific performance and for other
injunctive relief in order to enforce or prevent violation of the provisions of this Agreement.

            12.4 Amendments and Waivers. Except as otherwise provided herein, the provisions of
this Agreement may be amended or waived only upon the prior written consent of (a) the Company and
(b) the holders of a majority of the Registrable Securities then outstanding.

            12.5 Successors, Assigns and Subsequent Holders. (a) All covenants and agreements in
this Agreement by or on behalf of any of the parties hereto shall bind and inure to the benefit of
the respective successors and the permitted assigns of the parties hereto.

            (b) The rights to cause the Company to register Registrable Securities pursuant to this
Agreement may be assigned (but only with all related obligations) by a holder of Registrable
Securities to a transferee of such securities.

            (c) No assignment or transfer pursuant to this Section 12.5 shall be effective unless
and until (i) the Company is furnished with written notice of the name and address of such
transferee or assignee and the securities with respect to which such registration rights are being
assigned, and (ii) such transferee or assignee agrees in writing to be bound by and subject to the
terms and conditions of this Agreement.

            12.6 Entire Agreement. This Agreement constitutes the entire agreement of the parties
hereto with respect to the subject matter contained herein, and supersedes and preempts all prior
agreements, negotiations, discussions and understandings among the parties hereto with respect to
such subject matter.

            12.7 Severability. Wherever possible, each provision of this Agreement will be
interpreted in such manner as to be effective and valid under applicable law and in such a way as
to, as closely as possible, achieve the intended economic effect of such provision and this

14

 

Agreement as a whole, but if any provision contained herein is, for any reason, held to be
invalid, illegal or unenforceable in any respect, such provision shall be ineffective to the
extent, but only to the extent, of such invalidity, illegality or unenforceability without
invalidating the remainder of such provision or any other provisions hereof, unless such a
construction would be unreasonable.

            12.8 Notices. All notices or other communications required or permitted hereunder
shall be in writing and shall be deemed given upon delivery (a) when delivered personally, (b) if
transmitted by facsimile when confirmation of transmission is received, (c) if sent by registered
or certified mail, postage prepaid, return receipt requested or (d) if sent by reputable overnight
courier service (providing proof of delivery); and shall be addressed as follows:

To the Company:

ACCO World Corporation

300 Tower Parkway

Lincolnshire, Illinois 60069

Attention: President

Fax No. (847) 484-4495

	 	 	 
	To the Stockholder:

	 	with a copy to:
	 
	 	 
	Lane Industries, Inc.

	 	Sidley Austin Brown & Wood LLP
	One Lane Center

	 	Bank One Plaza
	1200 Shermer Road

	 	10 South Dearborn
	Northbrook, Illinois 60062

	 	Chicago, Illinois 60603
	Attention: Arthur J. Schiller
General Counsel

	 	Attention: Larry A. Barden and Chris Abbinante

	Fax No. (847) 291-5803

	 	Fax No. (312) 853-7036

            12.9 Governing Law. This Agreement shall be governed by, and construed in accordance
with, the laws of the State of Delaware.

            (a) Submission to Jurisdiction; Waiver of Jury Trial. Each of the parties hereto (i)
consents to submit such party to the personal jurisdiction of any Federal court located in the
State of Delaware or any Delaware state court in the event any dispute arises out of this Agreement
or any of the transactions contemplated hereby, (ii) agrees that such party will not attempt to
deny or defeat such personal jurisdiction by motion or other request for leave from any such court,
(iii) agrees that such party will not bring any action relating to this Agreement or the
transactions contemplated hereby in any court other than a Federal court sitting in the state of
Delaware or a Delaware state court and (iv) waives any right to trial by jury with respect to any
claim or proceeding related to or arising out of this Agreement or any of the transactions
contemplated hereby.

15

 

            12.10 Counterparts; Facsimile. This Agreement may be executed in any number of
counterparts, each of which will be considered an original instrument, but all of which together
will be considered one and the same agreement, and will become binding when one or more
counterparts have been signed by and delivered to each of the parties. This Agreement may be
executed by facsimile signatures of the parties hereto.

[Signature page follows]

16

 

      IN WITNESS WHEREOF, the parties hereto have caused this Registration Rights Agreement to be
executed the day and year first above written.

	 	 	 	 	 
	 	ACCO WORLD CORPORATION

 	 
	 	By:  	/s/ Neal Fenwick
 	 
	 	 	Name:  	Neal Fenwick 	 
	 	 	Title:  	Executive Vice-President Finance and
Administration 	 
	 

	 	 	 	 	 
	 	LANE INDUSTRIES, INC.

 	 
	 	By:  	/s/ Forrest M. Schneider
 	 
	 	 	Name:  	Forrest M. Schneider 	 
	 	 	Title:  	President & CEOexv10w2

 

Exhibit 10.2

[Execution Copy]

EMPLOYEE MATTERS AGREEMENT

     THIS EMPLOYEE MATTERS AGREEMENT (this “Agreement”) is made this 15th day of March, 2005 by and
among FORTUNE BRANDS, INC., a Delaware corporation (“Fortune”), ACCO WORLD CORPORATION, a Delaware
corporation (“ACCO”) and GENERAL BINDING CORPORATION, a Delaware corporation (“GBC”).

W I T N E S S E T H:

     WHEREAS, Fortune, ACCO, Gemini Acquisition Sub, Inc., a Delaware corporation and a
wholly-owned subsidiary of ACCO, and GBC have entered into an Agreement and Plan of Merger dated of
even date herewith (the “Merger Agreement”), providing for, among other things, the merger of
Gemini Acquisition Sub with and into GBC, with GBC being the surviving corporation;

     NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the
parties hereto agree as follows:

     Section 1. Definitions. As used in this Agreement, the following terms shall have the
following meanings (such meanings to be equally applicable to both the singular and the plural
forms of the terms defined). Any capitalized term not defined herein shall have the meaning
ascribed to such term in the Merger Agreement.

     “ACCO Plan” means any employee benefit plan, program, policy, practice or other
arrangement providing benefits to any current or former employee or officer of ACCO or any of its
Subsidiaries or any beneficiary or dependent thereof that is sponsored or maintained by ACCO or its
Subsidiaries or to which ACCO or its Subsidiaries contributes or is obligated to contribute (other
than the Fortune Welfare Plans described in Section 6 and the Fortune Savings Plans), whether or
not written, including any employee benefit plan within the meaning of Section 3(3) of ERISA
(whether or not such plan is subject to ERISA) and any bonus, incentive, deferred compensation,
vacation, stock purchase, stock option, equity or equity-based compensation, severance,
termination, employment, change of control or fringe benefit plan, program or agreement.

     “ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

     “Fortune Savings Plans” means the Fortune Retirement Savings Plan and the Fortune
Hourly Employee Retirement Savings Plan.

     “Fortune Savings Trust” means the Fortune Master Retirement Savings Plan Trust in
which the Fortune Savings Plans participate.

     “GBC Plan” means any employee benefit plan, program, policy, practice or other
arrangement providing benefits to any current or former employee, officer or director of GBC or any
of its Subsidiaries or any beneficiary or dependent thereof that is sponsored or maintained by

 

 

GBC
or its Subsidiaries or to which GBC or any of its Subsidiaries contributes or is obligated to
contribute, whether or not written, including any employee benefit plan within the meaning of
Section 3(3) of ERISA (whether or not such plan is subject to ERISA) and any bonus, incentive,
deferred compensation, vacation, stock purchase, stock option, equity or equity-based compensation,
severance, termination, employment, change of control or fringe benefit plan, program or agreement.

     Section 2. Maintenance of Plans following Effective Time. Prior to the Effective
Time, Fortune, ACCO and GBC, and after the Effective Time, ACCO and GBC, shall cooperate in
reviewing, evaluating and analyzing the ACCO Plans and the GBC Plans with a view towards developing
appropriate employee benefit programs following the Effective Time. Except for changes required by
Applicable Laws, the ACCO Plans and GBC Plans shall remain in effect for employees and former
employees of ACCO and its Subsidiaries and GBC and its Subsidiaries, respectively, unless and until
modified or terminated as a result of such review, evaluation and analysis and in accordance with
Applicable Laws and the terms of such plans, any applicable collective bargaining agreements or any
other labor-related Contracts. Employees and former employees of ACCO and its Subsidiaries shall
cease active participation in any employee benefit plan or arrangement of Fortune or its
Subsidiaries effective as of the Effective Time. The participation of employees and directors of
Lane Industries, Inc. (“Lane”) in the GBC Plans shall cease as the Effective Time. GBC shall not
grant awards payable in or based on GBC stock on or after the Effective Time.

     Section 3. Bonus and Incentive Plans. Employees of ACCO and its Subsidiaries
participating in any cash bonus and/or incentive compensation plan and program of ACCO or its
Subsidiaries as of the Effective Time will receive, promptly after the Effective Time, full payment
of all amounts due and not already paid with respect to the year ended December 31, 2004 determined
in accordance with the terms of the relevant ACCO program. Employees of GBC and its Subsidiaries
participating in any cash bonus and/or incentive compensation plan and program of GBC or its
Subsidiaries as of the Effective Time will receive promptly after the Effective Time full payment
of all amounts due and not already paid with respect to the year ended December 31, 2004 determined
in accordance with the terms of the relevant GBC program. The 2005 GBC short term incentive plan
bonus will be paid pro rata at target as soon as practicable following the Effective Time. Such
short term incentive plan shall remain in effect for the remainder of 2005, and the actual bonus
determined under that plan shall be offset (but not below zero) by the pro rata target bonus paid
pursuant to the preceding sentence.

     Section 4. GBC Nonemployee Directors. GBC shall terminate its plan for deferral of
director fees by nonemployee directors on the Effective Time and pay the deferred amounts in a
single sum amount as soon as practicable after the Effective Time.

     Section 5. Pre-Existing Limitations; Deductibles; Service Credit. If a person who was
an employee of ACCO or its Subsidiaries as of the Effective Time becomes eligible to participate in
an employee benefit plan of GBC or its Subsidiaries after the Effective Time, or if
a person who was an employee of GBC or its Subsidiaries as of the Effective Time becomes
eligible to participate in an employee benefit plan of ACCO or its Subsidiaries after the Effective
Time, ACCO and GBC shall: (A) waive all pre-existing conditions, exclusions and waiting

2

 

periods
with respect to participation and coverage requirements applicable to such employees and their
eligible dependents, except to the extent that such pre-existing conditions, exclusions or waiting
periods would apply under the analogous respective ACCO Plan or GBC Plan, as the case may be; (B)
provide each ACCO employee and GBC employee and their eligible dependents with credit for any
flexible spending credits or debits, co-payments and deductibles paid under the respective ACCO
Plan or GBC Plan in which the employee had participated in satisfying any applicable deductible or
out-of-pocket requirements under any plans in which such employee may be eligible to participate;
and (C) recognize all service of such employees with ACCO and GBC and their respective affiliates,
for purposes of eligibility to participate and entitlement to benefits and, other than with respect
to defined benefit pension plans, vesting and benefit accrual, in any such plans; provided that the
foregoing shall not apply to the extent it would result in duplication of benefits.

     Section 6. Fortune Welfare Plans. To the extent that the employees of ACCO and its
Subsidiaries participate in employee welfare benefit plans of Fortune, ACCO shall establish prior
to the Effective Time comparable employee welfare benefit plans to benefit employees of ACCO and
its Subsidiaries and their eligible dependents.

     Section 7. ACCO Defined Benefit Plan. The ACCO Pension Plan for Salaried and Certain
Hourly Paid Employees participates in the Fortune Master Retirement Plans Trust. Prior to the
Effective Time, ACCO shall establish a trust to be a source of providing benefits under the ACCO
Pension Plan for Salaried and Certain Hourly Paid Employees and, as soon as practicable following
the Effective Time, Fortune shall cause the assets held in the Fortune Master Retirement Plans
Trust to be transferred to the trust established by ACCO. The assets to be transferred shall be
selected on a pro rata basis, to the greatest extent possible, from each investment fund of the
Fortune Master Retirement Plan Trust and, to the extent assets cannot be transferred on a pro rata
basis, each investment manager shall act impartially as between Fortune and ACCO in determining the
assets to be so transferred.

     Section 8. Fortune Savings Plans. Employees and former employees of ACCO and its
subsidiaries participate in the Fortune Savings Plans and the Fortune Savings Trust. Prior to the
Effective Time, ACCO shall establish and be the sponsor of defined contribution savings plans that
constitute a spin-off from and are substantially identical in the eligibility, benefits, rights,
features and other material terms of the Fortune Savings Plans as applicable to employees and
former employees of ACCO and its Subsidiaries (except that new contributions made after the
Effective Time may not be invested in Fortune common stock). ACCO shall also establish a trust to
be a source of providing benefits under these new ACCO savings plans. As soon as practicable
following the Effective Time, Fortune shall cause the assets (as well as liabilities and any
Savings Plans’ loans by ACCO participants) held in the Fortune Savings Trust and reflected in the
accounts of the employees and former employees of ACCO and its Subsidiaries to be transferred to
the trust established by ACCO.

     Section 9. Long-Term Incentive Plan. Prior to the Effective Time Fortune, ACCO and
GBC shall cooperate in reviewing, evaluating and analyzing the respective long term incentive plans
applicable to employees of ACCO and GBC, respectively, with a view towards developing an
appropriate long term incentive plan for the grant of stock options and other

3

 

ACCO equity based
compensation and performance awards to be granted to employees and directors of ACCO, GBC and their
Subsidiaries. Such long term incentive plan shall be established by the Board of Directors of ACCO
and approved by Fortune as ACCO’s majority stockholder at or immediately prior to the Effective
Time, but after review, evaluation and analysis by those persons designated to be the members of
the Board of Directors of ACCO after the Effective Time.

     Section 10. GBC Key Employee Retention Program. GBC may establish a key employee
retention program (summarized in Exhibit A hereto) pursuant to which the key employees listed on
Exhibit A shall be entitled to receive retention bonuses up to an aggregate of $750,000; provided,
however, that if GBC desires to award retention bonuses in excess of the $545,000 amount set forth
on Exhibit A or if GBC desires to award retention bonuses to employees other than those listed on
Exhibit A, it shall consult with ACCO with respect thereto. Pursuant to the terms of the Program,
50% of the retention bonus will be paid in 120 days following the Effective Time if the key
employee remains in employment with GBC for the 120 day period and the remaining amount of the
retention bonus will be paid 180 days after the Effective Time if the key employee remains in
employment with GBC for the 180 day period. In addition, the entire retention bonus would be paid
if the key employee is terminated without cause (as defined in the Retention Program) by GBC on or
before the 180th day after the Effective Time.

     Section 11. Certain GBC Stock Incentive Awards.

     (a) 2004 Performance Restricted Stock Unit Awards.

     (i) With respect to GBC performance restricted stock unit awards issued during 2004, the
restricted stock units (“RSUs”) that vest in full upon the consummation of the Merger shall be
treated in accordance with Section 2.8(c) of the Merger Agreement.

     (ii) With respect to the RSUs awarded during 2004 that do not vest in full upon the
consummation of the Merger, each such RSU shall convert into an RSU with respect to one share of
ACCO Common Stock. Such remaining RSUs shall vest on February 26, 2007. Such vesting shall be
time vesting only, and shall not depend on the achievement of any performance goals during such
performance period. In addition, and notwithstanding any provision of any GBC change in control
agreement, severance agreement, other plan or agreement to the contrary, a recipient must be
employed by GBC or an affiliate thereof on February 26, 2007 in order for such RSUs to vest.

     (b) 2005 Stock Incentive Awards. With respect to stock incentive awards issued to officers and
employees of GBC and its subsidiaries during 2005 (other than those issued to GBC’s Chief Executive
Officer), the Closing will not be deemed to be a Change in Control (or similar term) that may be
included in any of those awards, and thus such awards shall not vest
automatically on the Effective Time. The award for a recipient who is entitled to and/or
receives severance benefits at or following the Effective Time shall continue to vest in any awards
during the period over which such severance is paid and/or calculated (irrespective of whether
severance is paid over time or in a lump sum). The stock incentive award issued to GBC’s Chief

4

 

Executive Officer during 2005 shall be covered by the terms of his Employment Agreement with GBC
dated May 8, 2001.

     Section 12. Sick Leave and Vacation. Each GBC employee will be entitled to carry over
all sick leave and vacation days which are accrued but unused as of the Effective Time in
accordance with GBC’s standard programs as in effect at the signing of the Merger Agreement. GBC
employees who will not remain in employment after the Effective Time will be paid a lump sum cash
amount, at the Effective Time, equal to the amount payable in respect of all unused vacation days
accrued through the Effective Time, to the extent consistent with GBC’s practices in effect on the
date hereof.

     Section 13. Severance Pay Plan. ACCO agrees that GBC and its Subsidiaries will honor,
during the twelve month period after the Effective Time, the GBC General Employee Severance Pay
Plan (“General Severance Plan”) summarized in Exhibit B hereto, which General Severance Plan shall
apply only to eligible employees as described in the General Severance Plan. After the date which
is twelve (12) months after the Effective Time, a new severance plan may be implemented for GBC
employees.

     Section 14. Retiree Benefits for Certain GBC Employees. Certain former U.S. employees
of GBC currently qualify to receive medical and other benefits as retirees of GBC until they are
eligible for Medicare benefits. ACCO agrees that GBC will until the ten year anniversary of the
Effective Time continue to provide such benefits to such former employees and shall continue to
offer such benefits to other active employees age 60 or older who as of the Effective Time are
eligible for such benefits as well as for other GBC employees who at the Effective Time have
attained age 55 with ten years of service and remain employed until they attain age 60. The
benefits offered and the percentage of premiums paid by each former employee shall be substantially
identical to the GBC benefit plan provisions in effect as of the date of the signing of the Merger
Agreement.

     Section 15. Leave of Absence. Except to the extent otherwise required by law, neither
ACCO nor GBC shall be obligated, after the Effective Time, to offer employment to any GBC employee
who, as of the Effective Time is on an approved leave of absence. However, each such GBC employee
who is not offered comparable employment with GBC or ACCO at the conclusion of the leave of
absence, shall be eligible for severance benefits under the General Severance Plan, but only to the
extent consistent with GBC’s programs and practices in effect on the date hereof.

     Section 16. Further Assurances. At or prior to the Effective Time, the parties shall
take all actions including, if appropriate, amending or implementing any ACCO Plan or GBC Plan, in
order to give effect to the provisions of this Agreement.

     Section 17. Amendment and Termination. This Agreement may be amended by the parties
hereto, by action taken or authorized by their respective Boards of Directors, at any time before
or after approval of the matters presented in connection with this Agreement and the Merger by the
stockholders of GBC, but, after any such approval, no amendment shall be made which by law or in
accordance with the rules of any relevant stock exchange or automated

5

 

quotation system requires
further approval by such stockholders without such further approval. This Agreement may not be
amended except by an instrument in writing signed on behalf of all of the parties hereto. This
Agreement shall terminate in the event of the termination of the Merger Agreement or the
Distribution Agreement.

     Section 18. Extension; Waiver. At any time prior to the Effective Time, the parties
hereto, by action taken or authorized by their respective Boards of Directors, may, to the extent
legally allowed, (i) extend the time for the performance of any of the obligations or other acts of
the other parties hereto, (ii) waive any inaccuracies in the representations and warranties of
other parties contained herein or in any document delivered pursuant hereto and (iii) waive
compliance with any of the agreements or conditions of other parties contained herein or in any
document delivered pursuant hereto. Any agreement on the part of a party hereto to any such
extension or waiver shall be valid only if set forth in a written instrument signed on behalf of
such party. The failure of any party to this Agreement to assert any of its rights under this
Agreement or otherwise shall not constitute a waiver of those rights.

     Section 19. Non-Survival of Representations, Warranties, Covenants and Agreements.
None of the representations, warranties, covenants and other agreements in this Agreement or in any
certificate delivered pursuant to this Agreement, including any rights arising out of any breach of
such representations, warranties, covenants and other agreements, shall survive the Effective Time,
except for those covenants and agreements contained herein and therein that by their terms apply or
are to be performed in whole or in part after the Effective Time.

     Section 20. Notices. Notices shall be delivered as provided for in the Merger
Agreement.

     Section 21. Counterparts. This Agreement may be executed in one or more counterparts,
all of which shall be considered one and the same agreement and shall become effective when one or
more counterparts have been signed by each of the parties and delivered to the other parties, it
being understood that the parties need not sign the same counterpart.

     Section 22. Entire Agreement; No Third Party Beneficiaries.

     (i) This Agreement, the Confidentiality Agreement, the Merger Agreement, the other Transaction
Agreements, the Lane/GBC Tax Allocation Agreement and the exhibits and schedules thereto and the
other agreements and instruments of the parties delivered in connection herewith and therewith
constitute the entire agreement and supersede all prior agreements and understandings, both written
and oral, among the parties with respect to the subject matter hereof and thereof.

     (ii) This Agreement shall be binding upon and inure solely to the benefit of each party
hereto, and nothing in this Agreement, express or implied, is intended to or shall confer upon any
other Person any right, benefit or remedy of any nature whatsoever under or by reason of this
Agreement.

6

 

     Section 23. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Delaware (without giving effect to choice of law
principles thereof).

     Section 24. Severability. If any provision of this Agreement or the application
thereof to any Person or circumstance is determined by a court of competent jurisdiction to be
invalid, void or unenforceable, the remaining provisions hereof, or the application of such
provision to Persons or circumstances other than those as to which it has been held invalid or
unenforceable, shall remain in full force and effect and shall in no way be affected, impaired or
invalidated thereby, so long as the economic or legal substance of the transactions contemplated
hereby is not affected in any manner materially adverse to any party. Upon any such determination,
the parties shall negotiate in good faith in an effort to agree upon a suitable and equitable
substitute provision to effect the original intent of the parties.

     Section 25. Assignment. Neither this Agreement nor any of the rights, interests or
obligations hereunder shall be assigned by any of the parties hereto, in whole or in part (whether
by operation of law or otherwise), without the prior written consent of the other parties, and any
attempt to make any such assignment without such consent shall be null and void. Subject to the
preceding sentence, this Agreement will be binding upon, inure to the benefit of and be enforceable
by the parties and their respective successors and assigns.

     Section 26. Submission to Jurisdiction; Waivers. Each of Fortune, ACCO and GBC
irrevocably agrees that any legal action or proceeding with respect to this Agreement, the
transactions contemplated hereby, any provision hereof, the breach, performance, validity or
invalidity hereof or for recognition and enforcement of any judgment in respect hereof brought by
another party hereto or its successors or permitted assigns may be brought and determined in any
federal or state court located in the State of Delaware, and each of Fortune, ACCO and GBC hereby
irrevocably submits with regard to any such action or proceeding for itself and in respect to its
property, generally and unconditionally, to the exclusive jurisdiction of the aforesaid courts.
Each of Fortune, ACCO and GBC hereby irrevocably waives, and agrees not to assert, by way of
motion, as a defense, counterclaim or otherwise, in any action or proceeding with respect to this
Agreement, the transactions contemplated hereby, any provision hereof or the breach, performance,
enforcement, validity or invalidity hereof, (a) any claim that it is not personally subject to the
jurisdiction of the above-named courts for any reason other than the failure to lawfully serve
process, (b) that it or its property is exempt or immune from jurisdiction of any such court or
from any legal process commenced in such courts (whether through service of notice, attachment
prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise)
and (c) to the fullest extent permitted by Applicable Laws, that (i) the suit, action or proceeding
in any such court is brought in an inconvenient forum, (ii) the venue of such suit, action or
proceeding is improper and (iii) this Agreement, or the subject matter hereof, may not be enforced
in or by such courts.

     Section 27. Enforcement. The parties agree that irreparable damage would occur in the
event that any of the provisions of this Agreement were not performed in accordance with their
specific terms. It is accordingly agreed that the parties shall be entitled to specific

7

 

performance of the terms hereof, this being in addition to any other remedy to which they are
entitled at law or in equity.

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8

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be signed by their
respective officers thereunto duly authorized, all as of the date first written above.

	 	 	 	 	 
	 	FORTUNE BRANDS, INC.

 	 
	 	By:  	/s/  Christopher J. Klein
 	 
	 	 	Name:  	Christopher J. Klein 	 
	 	 	Title:  	Senior Vice-President 	 
	 

	 	 	 	 	 
	 	ACCO WORLD CORPORATION

 	 
	 	By:  	/s/  Neal Fenwick
 	 
	 	 	Name:  	Neal Fenwick 	 
	 	 	Title:  	Executive Vice-President Finance    and Administration 	 
	 

	 	 	 	 	 
	 	GENERAL BINDING CORPORATION

 	 
	 	By:  	/s/  Steven Rubin
 	 
	 	 	Name:  	Steven Rubin 	 
	 	 	Title:  	Vice-President, Secretary and General Counsel 	 
	 

9

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