Document:

EX-10.1

P. H. GLATFELTER COMPANY

2005 LONG-TERM INCENTIVE PLAN

1. PURPOSE. The 2005 Long-Term Incentive Plan (the “Plan”) has been established by P. H.
Glatfelter Company (the “Company”) to: reward Eligible Individuals by means of appropriate
incentives for achieving long-range Company goals; provide incentive compensation opportunities
that are competitive with those of other similar companies; further match Eligible Individuals’
financial interests with those of the Company’s other shareholders through compensation that is
based on the Company’s common stock and thereby enhance the long-term financial interest of the
Company and its Affiliates, including through the growth in the value of the Company’s equity and
enhancement of long-term shareholder return; and facilitate recruitment and retention of
outstanding personnel eligible to participate in the plan.

2. DEFINITIONS. The capitalized terms used in this Plan have the meanings set forth below.
Except when otherwise indicated by the context, reference to the masculine gender shall include,
when used, the feminine gender and any term used in the singular shall also include the plural.

“Affiliate” means: (i) any Subsidiary of the Company; (ii) any entity or Person or group of
Persons that, directly or through one or more intermediaries, is controlled by the Company; and
(iii) any entity or Person or group of Persons in which the Company has a significant equity
interest, as determined by the Committee.

“Agreement” means any written agreement, contract or other instrument or document evidencing
any Award granted under the Plan, which may, but need not, be executed or acknowledged by a
Participant.

“Award” means any Option, SAR, award of Restricted Stock or Restricted Stock Units, Stock
Award, Other Stock-Based Award, or Performance Award granted under the Plan.

“Board” or “Board of Directors” means the board of Directors of the Company.

“Code” means the Internal Revenue Code of 1986, as amended and in effect from time to time, or
any successor statute.

“Committee” means the Compensation Committee of the Board of Directors, or any successor
committee thereto, or such other committee of the Board of Directors as is appointed or designated
by the Board to administer the Plan.

“Covered Person” means an individual who is determined by the Committee to be a “covered
employee” as defined in Section 162(m) of the Code for the tax year of the Company with regard to
which a deduction in respect of such person’s Award would be allowed.

“Eligible Individual” means any full-time or part-time employee, officer, non-employee
Director or consultant of the Company or an Affiliate. Eligible Individual shall also include any
individual or individuals to whom an offer of employment or service has been extended.

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

“Fair Market Value” means, as of any date and unless otherwise determined by the Committee,
the value of the Shares determined as follows:

(i) If the Shares are listed on any established stock exchange, system or
market, its Fair Market Value shall be the average of the highest and lowest
sale prices for the Shares as quoted on such exchange, system or market as
reported in the Wall Street Journal or such other source as the Committee
deems reliable; and

(ii) In the absence of an established market for the Shares, the Fair Market
Value thereof shall be determined in good faith by the Committee.

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“Incentive Stock Option” means an option granted under Section 6 that meets the requirements
of Section 422 of the Code, or any successor provision thereto.

“Non-Qualified Stock Option” means an option granted under Section 6 that is not an Incentive
Stock Option.

“Option” means an Incentive Stock Option or a Non-Qualified Stock Option.

“Other Stock-Based Award” means any right granted under Section 8.

“Participant” means any Eligible Individual to whom an Award has been made.

“Performance Award” means an Award to a Participant under Section 9, which award may be
denominated in cash or Shares.

“Person” means any individual, corporation, joint venture, association, joint stock company,
trust, unincorporated organization or government or any agency or political subdivision thereof.

“Plan” means this 2005 Long-Term Incentive Plan and in effect from time to time.

“Restricted Stock” means a grant of Shares pursuant to Section 7.

“Restricted Stock Unit” means a contractual right underlying an Award granted under Section 7
that is denominated in Shares, which unit represents a right to receive a Share (or the value of a
Share) upon the terms and conditions set forth in the Plan and the applicable Agreement.

“Retirement” means retirement of an employee: (i) as defined under any retirement plan of the
Company or any Affiliate which is qualified under Section 401 of the Code; or (ii) as determined by
the Committee.

“SAR” means a stock appreciation right, which is the right to receive a payment in cash or
Shares equal to the amount of appreciation, if any, in the Fair Market Value of a Share from the
date of grant of the right to the date of its payment.

“Share” means a share of Stock.

“Stock” means the common stock, par value $.01 per share (as such par value may be adjusted
from time to time), of the Company.

“Stock Award” means a grant of Shares pursuant to Section 8.

“Subsidiary” means any entity in which the Company owns or otherwise controls, directly or
indirectly, stock or other ownership interests having the voting power to elect a majority of the
board of Directors, or other governing group having functions similar to a board of Directors, as
determined by the Committee.

“Substitute Award” means an Award granted in assumption of, or in substitution for, an
outstanding award previously granted by a company acquired by the Company or with which the Company
combines.

“Successor” with respect to a Participant means the legal representative of an incompetent
Participant and, if the Participant is deceased, the legal representative of the estate of the
Participant or the person or persons who may, by bequest or inheritance, or under the terms of an
Award or of forms submitted by the Participant to the Committee, acquire the right to receive cash
and/or Shares issuable in satisfaction of an Award.

“Total and Permanent Disability” means: (i) if the Participant is insured under a long-term
disability insurance policy or plan which is paid for by the Company, the Participant is totally
disabled under the terms of that policy or plan; or (ii) if no such policy or plan exists, the
Participant shall be considered to be totally disabled as determined by the Committee.

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3. ADMINISTRATION. The authority to control and manage the operation and administration of the
Plan shall be vested in the Committee; provided, however, that all acts and authority of the
Committee pursuant to this Plan shall be subject to the provisions of the Committee’s Charter, as
amended from time to time, and such other authority as may be delegated to the Committee by the
Board.

(a) The Committee shall have exclusive power to make Awards, to determine when and to whom
Awards will be granted, the types of Awards and the number of Shares covered by the Awards, to
establish the terms, conditions, performance criteria, restrictions, and other provisions of such
Awards and, subject to the terms of the Plan, to cancel or suspend Awards. In making such Award
determinations, the Committee may take into account the nature of services rendered by the Eligible
Individual, the Eligible Individual’s present and potential contribution to the Company’s success
and such other factors as the Committee deems relevant.

(b) Subject to the provisions of the Plan, the Committee will have the authority and
discretion to determine the extent to which Awards under the Plan will be structured to conform to
the requirements applicable to performance-based compensation as described in Section 162(m) of the
Code, and to take such action, establish such procedures, and impose such restrictions to conform
to such requirements.

(c) The Committee shall have the power to approve forms of Agreement for use under the Plan.

(d) The Committee shall have the authority and discretion to establish terms and conditions of
Awards as the Committee determines to be necessary or appropriate to conform to applicable
requirements or practices of jurisdictions outside of the United States.

(e) The Committee may determine whether, to what extent and under what circumstances Awards
may be settled, paid or exercised in cash, Shares or other Awards or other property, or canceled,
forfeited or suspended.

(f) The Committee shall have the authority to interpret the Plan and any Award or Agreement
made under the Plan, to establish, amend, waive and rescind any rules and regulations relating to
the administration of the Plan, to determine the terms and provisions of any Agreements entered
into hereunder (not inconsistent with the Plan), and to make all other determinations necessary or
advisable for the administration of the Plan.

(g) The Committee shall determine whether, to what extent, and under what circumstances cash,
Shares, other securities, other Awards, other property, and other amounts payable with respect to
an Award under the Plan shall be deferred either automatically, or at the election of the holder
thereof, or by the Committee.

(h) The Committee may correct any defect, supply any omission or reconcile any inconsistency
in the Plan or in any Award in the manner and to the extent it shall deem desirable. The
determinations of the Committee in the administration of the Plan, as described herein, shall be
final, binding and conclusive on all interested parties.

(i) The Committee shall maintain and keep adequate records concerning the Plan and concerning
its proceedings and act in such form and detail as the Committee may decide.

(j) Except to the extent prohibited by applicable law or regulation, the Committee may
allocate all or any portion of its responsibilities and powers to any one or more of its members
and may delegate all or any part of its responsibilities and powers to any person or persons
selected by it. The Committee may revoke any such allocation or delegation at any time.

(k) The Company and any Affiliate shall furnish the Committee with such data and information
as may be required for it to discharge its duties. The records of the Company and any Affiliate as
to an Eligible Individual’s employment, or other provision of services, termination of employment,
or cessation of the provision of services, leave of absence, reemployment and compensation shall be
conclusive on all persons unless determined to be incorrect. Participants and other persons
entitled to benefit under the Plan must furnish the Committee such evidence, data or information as
the Committee considers desirable to carry out the terms of the Plan.

(l) To the fullest extent permitted by law, each member and former member of the Committee and
each person to whom the Committee delegates or has delegated authority under this Plan shall be
entitled to indemnification by the

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Company against and from any loss, liability, judgment, damage, cost and reasonable expense
incurred by such member, former member or other person by reason of any action taken, failure to
act or determination made in good faith under or with respect to this Plan.

(m) Notwithstanding any provision of the Plan to the contrary, if an award under this Plan is
intended to qualify as performance-based compensation under Section 162(m) of the Code and the
regulations issued thereunder and a provision of this Plan would prevent such award from so
qualifying, such provision shall be administered, interpreted and construed to carry out such
intention (or disregarded to the extent such provision cannot be so administered, interpreted or
construed).

(n) Notwithstanding any provision of the Plan to the contrary, if any benefit provided under
this Plan is subject to the provisions of Section 409A of the Code and the regulations issued
thereunder, the provisions of the Plan shall be administered, interpreted and construed in a manner
necessary to comply with Section 409A and the regulations issued thereunder (or disregarded to the
extent such provision cannot be so administered, interpreted, or construed.)

4. SHARES AVAILABLE FOR AWARDS.

(a) The maximum number of Shares that may be delivered pursuant to Awards granted under the
Plan is 1,500,000, and the maximum number of Shares that may be issued under the Plan as Incentive
Stock Options is 1,500,000. No Participant receiving an Award shall be granted: (i) Options or SARs
with respect to more than 300,000 Shares during any fiscal year; (ii) Performance Awards
(denominated in Shares) which could result in such Participant receiving more than 100,000 Shares
for each full or partial fiscal year of the Company contained in the performance period of a
particular Performance Award, provided, however, that, if any other such Performance Awards are
outstanding for the Participant for a given year, such Share limitation shall be reduced for each
such year by the Shares that could be received by the Participant under all such Performance
Awards, divided, for each such Performance Award, by the number of full or partial fiscal years of
the Company contained in the performance period of each such outstanding Performance Award; or
(iii) Performance Awards (denominated in cash) which could result in such Participant receiving
more than $1,500,000.00 for each full or partial fiscal year of the Company contained in the
performance period of a particular Performance Award, provided, however, that, if any other such
Performance Awards are outstanding for such Participant for a given year, such dollar limitation
shall be reduced for each such year by the amount that could be received by the Participant under
all such Performance Awards, divided, for each such Performance Award, by the number of full or
partial fiscal years of the Company contained in the performance period of each such outstanding
Performance Award. The foregoing limitations shall be subject to adjustment as provided in this
Section 4, but only to the extent that any such adjustment will not affect the status of: (i) any
Award intended to qualify as performance-based compensation under Section 162(m) of the Code; or
(ii) any Award intended to qualify as an Incentive Stock Option.

(b) Shares to be issued under the Plan may be made available from authorized but unissued
Stock, Stock held by the Company in its treasury, or Stock purchased by the Company on the open
market or otherwise. During the term of the Plan, the Company will at all times reserve and keep
available the number of shares of Stock that shall be sufficient to satisfy the requirements of the
Plan.

(c) If any Shares covered by an Award other than a Substitute Award, or to which such an Award
relates, terminate, lapse or are forfeited or cancelled, or such an Award is otherwise settled
without the delivery of the full number of Shares underlying the Award, then the Shares covered by
such Award, or to which such Award relates, to the extent of any such forfeiture, termination,
lapse, cancellation, etc., shall again be, or shall become available for issuance under the Plan.

(d) Shares underlying Substitute Awards shall not reduce the number of Shares available for
delivery under this Plan.

(e) Shares delivered in payment of the purchase price in connection with the exercise of
Options or Shares delivered or withheld to pay tax-withholding obligations or otherwise under the
Plan shall be added to and shall increase the number of Shares available for purposes of the Plan.

(f) In the event that the Committee shall determine that any dividend or other distribution
(whether in the form of cash, Shares, other securities, or other property), recapitalization, share
split, reverse share split, reorganization, merger, consolidation, split-up, spin-off, combination,
repurchase or exchange of Shares or other securities of the Company, issuance of warrants or other
rights to purchase Shares or other securities of the Company, or other similar corporate
transaction or event affects the Shares such that an adjustment is determined by the Committee to
be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits
intended to be made available under the Plan, then the Committee shall, in such manner as it may
deem equitable, adjust any or all of: (i) the number and type of Shares (or other securities or
property) which thereafter may be made the subject of Awards, including without limitation the
individual limits set forth in Sections 4(a); (ii) the number and type of Shares (or other
securities or property) subject to outstanding Awards; and (iii) the grant, purchase, or exercise
price with respect to any Award or, if deemed appropriate, make provision for a cash payment to the
holder of an outstanding Award; provided, however, that the number of Shares subject to any Award
shall always be a whole number.

5. ELIGIBILITY. All Eligible Individuals are eligible to participate in this Plan and receive
Awards hereunder. Holders of equity-based awards issued by a company acquired by the Company or
with which the Company combines are eligible to receive Substitute Awards hereunder.

6. OPTIONS AND SARS. The Committee is hereby authorized to grant Options and SARs to
Participants with the following terms and conditions and with such additional terms and conditions,
in either case not inconsistent with the provisions of the Plan, as the Committee shall determine:

(a) The purchase price per Share under an Option or SAR shall be determined by the Committee;
provided, however, that, except in the case of Substitute Awards, such purchase price shall not be
less than the Fair Market Value of a Share on the date of grant of such Option. The Committee shall
not have the authority to reprice options without first obtaining shareholder approval for such
repricing.

(b) The term of each Option shall be fixed by the Committee and the effect thereon, if any, of
the termination of employment of the Participant shall be determined by the Committee and set forth
in the applicable Agreement. The Agreement shall contain the terms of the Awards, including, but
not limited to: (i) the number of Shares that may be issued upon exercise of an Option or number of
SARs subject to an Award; (ii) the exercise price of each Option or SAR; (iii) the term of the
Option or SAR; (iv) such terms and conditions on the vesting and/or exercisability of an Option or
SAR as may be determined by the Committee; (v) any restrictions on transfer of the Option or SAR
and forfeiture provisions; and (vi) such further terms and conditions, in each case, not
inconsistent with this Plan as may be determined from time to time by the Committee.

(c) Subject to the terms of the Plan and the related Agreement, any Option or SAR may be
exercised at any time during the period commencing with either the date that Option or SAR is
granted or the first date permitted under a vesting schedule established by the Committee and
ending with the expiration date of the Option or SAR. A Participant may exercise his Option or SAR
for all or part of the number of Shares or rights which he is eligible to exercise under terms of
the Option or SAR. The Committee shall determine the method or methods by which, and the form or
forms in which, including, without limitation, cash, Shares, other Awards, or other property, or
any combination thereof, having a Fair Market Value on the exercise date equal to the relevant
exercise price of an Option, payment of the exercise price with respect thereto may be made or
deemed to have been made.

(d) The terms of any Incentive Stock Option granted under the Plan shall comply in all
respects with the provisions of Section 422 of the Code, or any successor provision thereto, and
any regulations promulgated thereunder.

7. RESTRICTED STOCK AND RESTRICTED STOCK UNIT AWARDS. The Committee is hereby authorized to
grant Awards of Restricted Stock and/or Restricted Stock Units to Eligible Individuals.

(a) The Awards granted under this Section 7 shall be subject to such restrictions as the
Committee may impose (including, without limitation, any limitation on the right to vote Shares
underlying Restricted Stock Awards or the right to receive any dividend, other right or property),
which restrictions may lapse separately or in combination at such time or times, in such
installments or otherwise, as the Committee may deem appropriate. Such Awards shall be evidenced by
an Agreement containing the terms of the Awards, including, but not limited to: (i) the number of
Shares of Restricted Stock or Restricted Stock Units subject to such Award; (ii) the purchase
price, if any, of the Shares of Restricted Stock or Restricted Stock Units and the means of payment
for the Shares of Restricted Stock or Restricted Stock Units; (iii) the performance criteria, if
any, and level of achievement in relation to the criteria that shall determine the number of Shares
of Restricted Stock or Restricted Stock Units granted, issued, retainable and/or vested; (iv) such
terms and conditions of the grant, issuance, vesting and/or forfeiture of the Restricted Stock or
Restricted Stock Units as may be determined from time to time by the Committee; (v) restrictions on
transferability of the Restricted Stock or Restricted Stock Units; and (vi) such further terms and
conditions, in each case, not inconsistent with this Plan as may be determined from time to time by
the Committee.

(b) Any Award of Restricted Stock or Restricted Stock Units may be evidenced in such manner as
the Committee may deem appropriate, including, without limitation, book-entry registration or
issuance of a stock certificate or certificates. In the event any stock certificate is issued in
respect of Shares underlying a Restricted Stock Award, such certificate shall be registered in the
name of the Participant and shall bear an appropriate legend referring to the terms, conditions,
and restrictions applicable to such Shares.

8. STOCK AWARDS AND OTHER STOCK-BASED AWARDS.

(a) Stock Awards. The Committee is hereby authorized to grant Stock Awards to Eligible
Individuals. Stock Awards granted under this Section 8 shall be subject to such restrictions, if
any, as the Committee may impose (including, without limitation, any limitation on the right to
vote Shares underlying Stock Awards or the right to receive any dividend, other right or property),
but may be issued without a risk of forfeiture and without any restrictions. Stock Awards may be
issued by the Committee in addition to, or in tandem with, other Awards granted under this Plan,
and may be issued in lieu of any cash compensation or fees for services to the Company as the
Committee, in its discretion, shall determine or authorize. Stock Awards shall be evidenced by an
Agreement or in such other manner as the Committee may deem necessary or appropriate, including,
without limitation, book-entry registration or issuance of a stock certificate or certificates. In
the event any stock certificate is issued in respect of Shares underlying a Stock Award, such
certificate shall be registered in the name of the Participant and may bear an appropriate legend
referring to the terms, conditions, and restrictions, if any, applicable to such Shares.

(b) Other Stock-Based Awards. The Committee is hereby authorized to grant to Participants such
other Awards (including, without limitation, rights to dividends and dividend equivalents) that are
denominated or payable in, valued in whole or in part by reference to, or otherwise based on or
related to, Shares (including, without limitation, securities convertible into Shares) as are
deemed by the Committee to be consistent with the purposes of the Plan. Subject to the terms of the
Plan, the Committee shall determine the terms and conditions of such Awards and set forth such
terms and conditions in an Agreement. Shares or other securities delivered pursuant to a purchase
right granted under this Section 8 shall be purchased for such consideration, which may be paid by
such method or methods and in such form or forms, including, without limitation, cash, Shares,
other securities, other Awards, or other property, or any combination thereof, as the Committee
shall determine, the value of which consideration, as established by the Committee, shall, except
in the case of Substitute Awards, not be less than the Fair Market Value of such Shares or other
securities as of the date such purchase right is granted.

9. PERFORMANCE AWARDS.

(a) The Committee is hereby authorized to grant Performance Awards to Eligible Individuals.
Unless otherwise determined by the Committee, such Awards shall be evidenced by an Agreement
containing the terms of such Awards, including, but not limited to, the performance criteria and
such terms and conditions as may be determined from time to time by the Committee, in each case,
not inconsistent with this Plan.

(b) For Awards intended to be performance-based compensation under Section 162(m) of the Code,
Performance Awards shall be conditioned upon the achievement of pre-established goal(s) relating to
one or more of the following performance measures established within 90 days after the beginning of
the performance period as determined in writing by the Committee and subject to such modifications
as specified by the Committee: cash flow; cash flow from operations; earnings (including earnings
before interest, taxes, depreciation, and amortization or some variation thereof); earnings per
share, diluted or basic; earnings per share from continuing operations; net asset turnover;
inventory turnover; capital expenditures; debt, debt reduction; working capital; return on
investment; return on sales; net or gross sales; market share; economic value added; cost of
capital; change in assets; expense reduction levels; productivity; delivery performance; safety
record; stock price; return on equity; total shareholder return; return on capital; return on
assets or net assets; revenue; income or net income; operating income or net operating income;
operating profit or net operating profit; gross margin, operating margin or profit margin; and
completion of acquisitions, business expansion, product diversification and other non-financial
operating and management performance objectives. To the extent consistent with Section 162(m) of
the Code, the Committee may determine that certain adjustments shall apply, in whole or in part, in
such manner as determined by the Committee, to exclude the affect of any of the following events
that occur during a performance period: the impairment of tangible or intangible assets;
litigation or claim judgments or settlements; the effect of changes in tax law, accounting
principles or other such laws or provisions affecting reported results; accruals for reorganization
and restructuring programs, including, but not limited to, reductions in force and early retirement
incentives; currency fluctuations; and any extraordinary, unusual, infrequent or non-recurring
items, including, but not limited to, such items described in management’s discussion and analysis
of financial condition and results of operations or the financial statements and notes thereto
appearing in the Company’s annual report to shareholders for the applicable year. Performance
measures may be determined either individually, alternatively or in any combination, applied to
either the Company as a whole or to a business unit or subsidiary entity thereof, either
individually, alternatively or in any combination, and measured over a period of time including any
portion of a year, annually or cumulatively over a period of years, on an absolute basis or
relative to a pre-established target, to previous years’ results or to a designated comparison
group, in each case as specified by the Committee.

(c) For Awards intended to be performance-based compensation under Section 162(m) of the Code,
performance goal(s) relating to the performance measures set forth above shall be preestablished by
the Committee, and achievement thereof certified in writing prior to payment of the Award, as
required by Section 162(m) and regulations promulgated thereunder. In addition to establishing
minimum performance goal(s) below which no compensation shall be payable pursuant to a Performance
Award, the Committee, in its discretion, may create a performance schedule under which an amount
less than or more than the target award may be paid so long as the performance goal(s) have been
achieved.

(d) The Committee, in its sole discretion, may also establish such additional restrictions or
conditions that must be satisfied as a condition precedent to the payment of all or a portion of
any Performance Awards. Such additional restrictions or conditions need not be performance-based
and may include, among other things, the receipt by a Participant of a specified annual performance
rating, the continued employment by the Participant and/or the achievement of specified performance
goals by the Company, business unit or Participant. Furthermore and notwithstanding any provision
of this Plan to the contrary, the Committee, in its sole discretion, may retain the discretion to
reduce the amount of any Performance Award to a Participant if it concludes that such reduction is
necessary or appropriate based upon: (i) an evaluation of such Participant’s performance; (ii)
comparisons with compensation received by other similarly situated individuals working within the
Company’s industry; (iii) the Company’s financial results and conditions; or (iv) such other
factors or conditions that the Committee deems relevant; provided, however, the Committee shall not
use its discretionary authority to increase any award that is intended to be performance-based
compensation under Section 162(m) of the Code.

10. DURATION. The Plan shall be effective upon approval of the Plan by the shareholders of the
Company. No Award shall be granted under the Plan after the tenth anniversary of the effective
date. However, unless otherwise expressly provided in the Plan or in an applicable Agreement, any
Award theretofore granted may extend beyond such date, and the authority of the Committee to
administer the Plan and to amend, alter, adjust, suspend, discontinue, or terminate any such Award,
or to waive any conditions or rights under any such Award, and the authority of the Board to amend
the Plan, shall extend beyond such date.

11. AMENDMENT, MODIFICATION AND TERMINATION.

(a) Except to the extent prohibited by applicable law and unless otherwise expressly provided
in an Agreement or in the Plan, the Board may amend, alter, suspend, discontinue, or terminate the
Plan or any portion thereof at any time; provided, however, that no such amendment, alteration,
suspension, discontinuation or termination shall be made without: (i) shareholder approval if such
approval is necessary to comply with any tax or regulatory requirement for which or with which the
Board deems it necessary or desirable to qualify or comply; or (ii) the consent of the affected
Participant, if such action would adversely affect any material rights of such Participant under
any outstanding Award. Notwithstanding the foregoing or any provision of the Plan to the contrary,
the Committee may at any time (without the consent of the Participant) modify, amend or terminate
any or all of the provisions of this Plan to the extent necessary: (i) to conform the provisions of
the Plan with Section 409A of the Code regardless of whether such modification, amendment, or
termination of the Plan shall adversely affect the rights of a Participant under the Plan; and (ii)
to enable the Plan to achieve its stated purposes in any jurisdiction outside the United States in
a tax-efficient manner and in compliance with local rules and regulations.

(b) The Committee may waive any conditions or rights under, amend any terms of, or amend,
alter, suspend, discontinue or terminate, any Award theretofore granted, prospectively or
retroactively, without the consent of any Participant or holder or beneficiary of an Award,
provided, however, that no such action shall impair any material rights of a Participant or holder
or beneficiary under any Award theretofore granted under the Plan.

(c) With respect to Participants who reside or work outside the United States of America, the
Committee may, in its sole discretion, amend, or otherwise modify, without Board or shareholder
approval, the terms of the Plan or Awards with respect to such Participant in order to conform such
terms with the provisions of local law; provided that such amendment or other modification shall
not increase the total number of Shares reserved for purposes of the Plan without the approval of
the shareholders of the Company.

(d) The Committee shall be authorized to make adjustments in the terms and conditions of, and
the criteria included in, Awards in recognition of unusual or nonrecurring events (including,
without limitation, an event affecting the Company, or the financial statements of the Company, or
of changes in applicable laws, regulations or accounting principles), whenever the Committee
determines that such adjustments are appropriate in order to prevent dilution or enlargement of the
benefits or potential benefits intended to be made available under the Plan.

(e) In connection with an event described in Section 4(f) or such other events as determined
by the Committee and set forth in an Award Agreement, the Committee may, in its discretion: (i)
cancel any or all outstanding Awards under the Plan in consideration for payment to the holder of
each such cancelled Award of an amount equal to the portion of the consideration that would have
been payable to such holder pursuant to such transaction if such Award had been fully vested and
exercisable, and had been fully exercised, immediately prior to such transaction, less the exercise
price, if any, that would have been payable therefor; or (ii) if the net amount referred to in
clause (i) would be negative, cancel such Award for no consideration or payment of any kind.
Payment of any amount payable pursuant to the preceding sentence may be made in cash and/or
securities or other property in the Committee’s discretion.

12. MISCELLANEOUS.

(a) Nothing in the Plan or in any Agreement shall confer upon any Eligible Individual who is a
Participant the right to continue in the service or employment of the Company or any Affiliate or
affect any right which the Company or any Affiliate may have to terminate or modify the employment
or provision of service of the Participant with or without cause.

(b) The Company shall have a right to withhold from any payment of cash or Stock to a
Participant or other person under the Plan an amount sufficient to cover any required withholding
taxes, including the Participant’s social security and Medicare taxes (FICA) and federal, state,
local income tax or such other applicable taxes (“Taxes”) with respect to income arising from
payment of the Award. The Company shall have the right to require the payment of any Taxes before
issuing any Stock pursuant to the Award. The Committee may, if it deems appropriate in the case of
a Participant, withhold such Taxes through a reduction of the number of Shares delivered to such
individual, or allow the Participant to elect to cover all or any part of the required
withholdings, and to cover any additional withholdings up to the amount needed to cover the Taxes
with respect to income arising from payment of the Award, through a reduction of the number of
Shares delivered to such individual or a subsequent return to the Company of Shares held by the
Participant or other person, in each case valued in the same manner as used in computing the
withholding taxes under the applicable laws.

(c) Awards received by a Participant under this Plan shall not be deemed a part of a
Participant’s regular, recurring compensation for purposes of any termination, indemnity or
severance pay laws and shall not be included in, nor have any effect on, the determination of
benefits under any other employee benefit plan, contract or similar arrangement provided by the
Company or an Affiliate, unless expressly so provided by such other plan, contract or arrangement,
or unless the Committee so determines. No provision of the Plan shall prevent the Company from
adopting or continuing in effect other or additional compensation arrangements, including incentive
arrangements providing for the issuance of options and stock, and awards that do not qualify under
Section 162(m) of the Code, and such arrangements may be generally applicable or applicable only in
specific cases.

(d) Except as the Committee may otherwise determine from time to time: (i) no Award and no
right under any Award shall be assignable, alienable, saleable or transferable by a Participant
otherwise than by will or by the laws of descent and distribution; provided, however, that, if so
determined by the Committee, a Participant may, in the manner established by the Committee,
designate a beneficiary or beneficiaries to exercise the rights of the Participant, and to receive
any property distributable, with respect to any Award upon the death of the Participant; (ii) each
Award, and each right under any Award, shall be exercisable during the Participant’s lifetime only
by the Participant or, if permissible under applicable law, by the Participant’s guardian or legal
representative; and (iii) no Award and no right under any such Award, may be pledged, alienated,
attached, or otherwise encumbered, and any purported pledge, alienation, attachment or encumbrance
thereof shall be void and unenforceable against the Company. The provisions of this paragraph shall
not apply to any Award which has been fully exercised, earned or paid, as the case may be, and
shall not preclude forfeiture of an Award in accordance with the terms thereof.

(e) This Plan shall be unfunded and the Company shall not be required to segregate any assets
that may at any time be represented by Awards under this Plan. Neither the Company, its Affiliates,
the Committee, nor the Board shall be deemed to be a trustee of any amounts to be paid under this
Plan nor shall anything contained in this Plan or any action taken pursuant to its provisions
create or be construed to create a fiduciary relationship between the Company and/or its
Affiliates, and a Participant or Successor. To the extent any person acquires a right to receive an
Award under this Plan, such right shall be no greater than the right of an unsecured general
creditor of the Company.

(f) Any liability of the Company to any Participant with respect to an Award shall be based
solely upon contractual obligations created by this Plan and the applicable Agreement. Except as
may be required by law, neither the Company nor any member or former member of the Board or of the
Committee, nor any other person participating (including participation pursuant to a delegation of
authority under Section 3(j) hereof) in any determination of any question under this Plan, or in
the interpretation, administration or application of this Plan, shall have any liability to any
party for any action taken, or not taken, under this Plan.

(g) No certificate for Shares distributable pursuant to this Plan shall be issued and
delivered unless the issuance of such certificate complies with all applicable legal requirements
including, without limitation, compliance with the provisions of applicable state securities laws,
the Securities Act of 1933, as amended and in effect from time to time or any successor statute,
the Exchange Act and the requirements of the exchanges on which the Company’s Shares may, at such
time be listed.

(h) To the extent that federal laws do not otherwise control, this Plan and all determinations
made and actions taken pursuant to this Plan shall be governed by the laws of Pennsylvania, without
giving effect to its conflict of law provisions.

(i) In the event that any provision of this Plan shall be held illegal or invalid for any
reason, the illegality or invalidity shall not affect the remaining provisions of this Plan, and
this Plan shall be construed and enforced as if the illegal or invalid provision had not been
included.

(j) No fractional shares shall be issued or delivered pursuant to this Plan or any Agreement,
and the Committee shall determine whether cash, other securities, or other property shall be paid
or transferred in lieu of any fractional shares, or whether such fractional Shares or any rights
thereto shall be canceled, terminated, or otherwise eliminated.

4EX-10.2

GLATFELTER

Top Management Restricted Stock Unit Award Certificate

______________________________________________________________________________

Award Number:      

	 	 	 	 	 
	Award Date:      

	 	Number of

Restricted Stock Units:
	 	Final Vesting Date:      

THIS CERTIFIES THAT Glatfelter (the “Company”) has on the Award Date specified above granted
to

(the “Participant”) an award (the “Award”) to receive that number of Restricted Stock Units
(the “RSUs”) indicated above in the box labeled “Number of Restricted Stock Units,” each RSU
representing the right to receive one share of the Company’s common stock, $.01 par value per share
(the “Common Stock”), subject to certain restrictions and on the terms and conditions contained in
this Award Certificate and the Company’s 2005 Long-Term Incentive Plan (the “Plan”). In the event
of any conflict between the terms of the Plan and this Award Certificate, the terms of the Plan
shall prevail. Any terms not defined herein shall have the meaning set forth in the Plan.

* * * *

1. Rights of the Participant with Respect to the Restricted Stock Units.

(a) No Shareholder Rights. The RSUs granted pursuant to the Award do not and shall
not entitle the Participant to any rights of a holder of Common Stock. The rights of the
Participant with respect to the RSUs shall remain forfeitable at all times prior to the date
on which such rights become vested, and the restrictions with respect to the RSUs lapse, in
accordance with Section 2, 3 or 4.

(b) Dividend Equivalents. The Company shall pay to Participants holding RSUs
outstanding on the record date for the payment of any dividend on the Common Stock an amount
equal to the dividend such Participant would have received on the payment date therefor if
the shares of Common Stock issuable in accordance with such RSUs had been issued and
outstanding on such record date.

(c) Conversion of Restricted Stock Units; Issuance of Common Stock. No shares of
Common Stock shall be issued to a Participant prior to the date on which the RSUs vest and
the restrictions with respect to the RSUs lapse, in accordance with Section 2, 3 or 4.
Neither this Section 1(c) nor any action taken pursuant to or in accordance with this
Section 1(c) shall be construed to create a trust of any kind. After all restrictions with
respect to RSUs lapse pursuant to Section 2, 3 or 4, the Company shall cause to be issued as
soon as practicably possible, in book-entry form, registered in the Participant’s name or in
the name of the Participant’s legal representatives, beneficiaries or heirs, as the case may
be, in payment for such RSUs that number of shares of Common Stock equal to the number of
RSUs with respect to which the restrictions have lapsed.

2. Vesting. 1/3 of the total amount of RSUs awarded shall vest on each December
31st of the second, third and fourth full year following the year of the Award, and the
restrictions with respect to the RSUs awarded shall lapse on December 31st of the fourth
full year following the year of the Award, if the Participant remains continuously employed by the
Company or any of its subsidiaries until the respective vesting dates.

3. Early Vesting Upon Change in Control. Notwithstanding the other vesting provisions
contained in Section 2, but subject to the other terms and conditions set forth herein, in the
event of a Change in Control, as hereinafter defined, all of the RSUs that have been held for at
least 6 months shall become immediately and unconditionally vested, and the restrictions with
respect to such RSUs shall lapse.

4. Forfeiture or Early Vesting Upon Termination of Employment.

(a) Termination of Employment Generally. If, prior to vesting of the RSUs pursuant
to Section 2 or 3, the Participant ceases to be an employee of the Company or any of its
subsidiaries for any reason (voluntary or involuntary), other than death or Disability, then
such RSUs shall be immediately and irrevocably forfeited. If, subsequent to vesting of the
RSUs, the Participant ceases to be an employee for any reason without cause, other than
death or Disability as described below under Section 4(b), the restrictions with respect to
the vested RSUs shall continue and shall lapse, as if such employment had not terminated.

(b) Death or Disability. Upon the death or Disability of a Participant while
employed by the Company or any of its subsidiaries, then the RSUs shall vest to the extent
necessary to cause the percentage of RSUs that have vested (including those that vested
prior to the date of death or Disability) to equal the percentage of the RSUs granted that
is equal to the percentage of the vesting restriction period that has elapsed as of the date
of death or the date on which such Disability commenced (such date to be determined by the
Compensation Committee in its sole discretion) and the Company shall cause to be issued as
soon as practicably possible, in book-entry form, registered in the Participant’s name or in
the name of the Participant’s legal representatives, beneficiaries or heirs, as the case may
be, in payment for the RSUs with respect to which all restrictions have lapsed that number
of shares of Common Stock equal to the number of RSUs with respect to which all restrictions
have lapsed. All unvested RSUs (after giving effect to the foregoing sentence) on the date
of such death or Disability will be immediately and irrevocably forfeited.

5. Restriction on Transfer. The RSUs and any rights under the Award may not be sold,
assigned, transferred, pledged, hypothecated or otherwise disposed of by the Participant, and any
such purported sale, assignment, transfer, pledge, hypothecation or other disposition of RSUs or
other rights under the Award shall be void and unenforceable against the Company and shall result
in the immediate forfeiture of such RSUs and rights. Notwithstanding the foregoing, the
Participant may, in the manner established by the Compensation Committee, designate a beneficiary
or beneficiaries to exercise the rights of the Participant and receive any shares of Common Stock
issued or any cash paid with respect to the RSUs upon the death of the Participant.

6. Tax Matters.

(a) In order to comply with all applicable federal, state and local tax laws or regulations,
the Company may take such actions as it deems appropriate to ensure that all applicable
federal, state and local payroll, withholding, income or other taxes are withheld or
collected from the Participant.

(b) In accordance with the terms of the Plan, and such rules as may be adopted by the
Compensation Committee under the Plan, the Participant may elect to satisfy the
Participant’s federal, state and local tax withholding obligations arising from the receipt
of, the vesting of or the lapse of restrictions relating to, the RSUs, by (i) delivering
cash, check or money order payable to the Company, or (ii) having the Company withhold a
portion of the shares of Common Stock otherwise to be delivered having a Fair Market Value
equal to the amount of such taxes. The Company will not deliver any fractional share of
Common Stock but will instead round down to the next full number the amount of shares of
Common Stock to be delivered. The Participant’s election must be made on or before the date
that any such withholding obligation with respect to the RSUs arises. If the Participant
fails to timely make such an election, the Company shall have the right to withhold a
portion of the shares of Common Stock otherwise to be delivered having a Fair Market Value
equal to the amount of such taxes.

7. Miscellaneous.

(a) The Award does not confer on the Participant any right with respect to the continuance
of any relationship with the Company or its subsidiaries, nor will it interfere in any way
with the right of the Company to terminate such relationship at any time.

(b) The Company shall not be required to deliver any shares of Common Stock upon vesting of
any RSUs until the requirements of any federal or state securities laws, rules or
regulations or other laws or rules (including the rules of any securities exchange) as may
be determined by the Company to be applicable are satisfied.

(c) An original record of the Award and all the terms thereof, executed by the Company,
shall be held on file by the Company. To the extent there is any conflict between the terms
contained in the Award Certificate and the terms contained in the original record held by
the Company, the terms of the original record held by the Company shall control.

8. Definitions.

(a) “Board” shall mean the Board of Directors of the Company.

(b) “Change in Control”. For the purposes of this Certificate, a “Change in Control” shall
mean:

(i) The acquisition, directly or indirectly, other than from the Company, by any
person, entity or “group” (within the meaning of Section 13(d)(3) or 14(d)(2) of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), excluding, for this
purpose, the Company, its subsidiaries, any employee benefit plan of the Company or its
subsidiaries, and any purchaser or group of purchasers who are descendants of, or entities
controlled by descendants of, P.H. Glatfelter which acquires beneficial ownership of voting
securities of the Company) (a “Third Party”) of beneficial ownership (within the meaning of
Rule 13d-3 promulgated under the Exchange Act) of 20% or more of the combined voting power
of the Company’s then outstanding voting securities entitled to vote generally in the
election of directors; or

(ii) Individuals who, as of the date hereof, constitute the Board (the “Incumbent
Directors”) cease for any reason to constitute at least a majority of the Board, provided
that any person becoming a director subsequent to the date hereof whose election, or
nomination for election by the Company’s shareholders, was approved by a vote of at least a
majority of the Incumbent Directors who are directors at the time of such vote shall be, for
purposes of this Certificate, an Incumbent Director; or

(iii) Consummation of (i) a reorganization, merger or consolidation, in each case, with
respect to which persons who were the shareholders of the Company immediately prior to such
reorganization, merger or consolidation (other than the acquiror) do not, immediately
thereafter, beneficially own more than 50% of the combined voting power of the reorganized,
merged or consolidated company’s then outstanding voting securities entitled to vote
generally in the election of directors, or (ii) a liquidation or dissolution of the Company
or the sale of all or substantially all of the assets of the Company (whether such assets
are held directly or indirectly) to a Third Party.

In addition to the foregoing, a Change in Control with respect to an individual Participant
shall be deemed to occur if the Participant’s employment with the Company is terminated prior to
the date on which a Change in Control occurs, and it is reasonably demonstrated that such
termination (i) was at the request of a third party who has taken steps reasonably calculated to
effect a Change in Control or (ii) otherwise arose in connection with or anticipation of a Change
in Control.”

(c) “Code” shall mean the Internal Revenue Code of 1986, as amended.

(d) "Committee” shall mean the Compensation Committee of the Board consisting of three or more
Directors, each of whom shall be a “non-employee director” within the meaning of Rule 16b-3
promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as
in effect from time to time, and an “outside director” within the meaning of Section 162(m) of the
Code and regulations promulgated thereunder, as in effect from time to time.

(e) “Disability” shall mean a disability due to any medically determinable physical or mental
impairment that prevents a Participant from fulfilling the duties that such Participant was
performing at the time of the occurrence of such disability and which can be expected to result in
death or which has lasted or can be expected to last for a continuous period of more than twelve
months, as determined by the Committee in its sole discretion.

(f) "Fair Market Value” for purposes of this Plan, unless otherwise required by any applicable
provision of the Code or any regulations issued thereunder, shall mean, as of any date, the average
of the high and low sales prices of a share of Common Stock as reported on the New York Stock
Exchange.

A copy of the 2005 Long-Term Incentive Plan is attached to this Certificate.

GLATFELTER

___________________________

     ,      

By my signature below, I hereby acknowledge receipt of this Award Certificate on the date shown
above, which has been issued to me under the terms and conditions of the Plan. I further
acknowledge receipt of the copy of the Plan and agree to conform to all of the terms and conditions
of the Award Certificate and the Plan.

Signature:      Date:

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