Document:

Exhibit 10.1

 

November 4, 2008

 

Robert J. Keller

[Address]

 

Dear Bob:

 

On behalf of ACCO Brands
Corporation (“ACCO Brands”), I’m very pleased to advise you that the Board of
Directors has approved the following compensation program for your position as Chief
Executive Officer effective as of October 22, 2008. Your primary work
location will be the company’s headquarters in Lincolnshire, IL.  The details of your compensation program are
as follows:

 

·                  Base Salary:  Your
annual base salary will be $720,000, payable bi-weekly, less applicable taxes
and withholdings.

 

·                  Short-term Incentive:  You
will participate in the annual ACCO Brands Management Incentive Plan (MIP) with
a target award opportunity of 100% of your annual base.   You are eligible for a pro-rata MIP for the
2008 Plan year and any potential awards are based on actual eligible base
salary earnings and will range from 0% to 200% of the target award, depending
upon actual performance against standards established by, and at the discretion
of, the Compensation Committee of the Board of Directors.

 

·                  Long-Term Incentive:  You
will be eligible to participate in the ACCO Brands Long-term Incentive Plan
(LTIP).  The plan is an equity-based,
4-year rolling plan, with an incentive grant typically made once each year.  The award opportunity for your level consists
of Performance Share Units (PSUs), Restricted Stock Units (RSUs), and Stock
Options (SOs). For the 2008 plan year, you will be granted:

 

PSUs:
 23,000 PSUs for the 2007-2009
Performance Period; and 45,000 PSUs for the 2008-2010 Performance Period,
payable in accordance with the applicable award agreements

 

RSUs:
15,000 RSUs cliff-vesting on November 7, 2011 and 23,000 RSUs cliff-vesting
on November 7, 2012.

 

SOs:  105,000 SOs vesting ratably in equal
increments over the three-year period from the date of grant, which will be November 7,
2008.

 

Plan details will be
provided at the time of your grant.  The
SO exercise price will be the average of the high-low market price of ABD stock
as traded on the NYSE on the date of grant. 
Any future LTIP grants and any potential awards are subject to final
approval by the Compensation Committee, and in your case as CEO, also by the
Board of Directors.

 

·                  Auto Allowance:  You
will participate in the Executive Auto Allowance Program.  Your annual allowance under this program will
be $15,996, payable bi-weekly less applicable taxes and withholdings.

 

·                  Employee Benefits:  As
an ACCO Brands employee, you will be eligible to participate in our health,
welfare, and retirement benefit programs, including term life insurance up to
two times base salary.  The materials
outlining these programs are enclosed. 
In addition, for 2008 you will be eligible to receive

 

 

three (3) weeks
annual vacation benefits, pro rata based upon your start date. Beginning in
2009, you will be eligible for four (4) weeks annual vacation benefits.

 

·                  Severance Benefits:   You
will be eligible to receive any severance benefits, at the Tier 1
benefits-level, that may be provided under the ACCO Brands Corporation
Executive Severance Plan, effective December 1, 2007.

 

This Letter is not
intended to constitute a contract of employment.  Employment with ACCO Brands is “at-will” and
subject to termination by you or ACCO Brands at any time, with or without cause
or prior notice.  Nothing in this Letter
or in any of the accompanying materials alters this “at-will” relationship.

 

Please acknowledge your
understanding and acceptance of the above terms by signing and returning one (1) copy
of this Letter  to me as soon as possible.  Please keep the second copy for your personal
records.

 

 

Sincerely yours,

 

	
  /s/ David L. Kaput

  	
   

  

 

 

David L. Kaput

Senior Vice President &
Chief HR Officer

 

 

	
  Accepted by:

  	
  /s/ Robert J.
  Keller

  	
   

  	
  Date: 

  	
  November 4, 2008

  
	
   

  	
  Robert J. Keller

  	
   

  	
   

  	
   

  

 

2Exhibit 10.3

 

TELEPHONE AND DATA SYSTEMS, INC. (the “Company”)

Compensation Plan for Non-Employee Directors (the “Plan”)

As Amended, Effective May 22, 2008

 

The purpose of the
Plan is to provide appropriate compensation to non-employee directors for their
service to the Company and to ensure that qualified persons serve as
non-employee members of the Board of Directors.

 

The Plan was
approved pursuant to the authority granted in Section 2.22 of Article II
of the Company’s By-Laws, which provides that the Board of Directors shall have
authority to establish reasonable compensation of directors, including
reimbursement of expenses incurred in attending meetings of the Board of
Directors.

 

Board Service

 

Each director of
the Company who is not an employee of the Company, TDS Telecommunications
Corporation, United States Cellular Corporation or any other subsidiary of the
Company (“non-employee director”) will receive:

 

1.              An annual director’s retainer fee of $55,000 paid in
cash.

 

2.              An annual award of $55,000 paid in the form of the
Company’s Special Common Shares, which shall be distributed in March on or
prior to March 15 of each year, beginning March 15, 2009, for
services performed during the 12 month period that commences on March 1 of
the immediately preceding calendar year and ends on the last day of February of
the calendar year of payment.  The number
of shares shall be determined on the basis of the closing price of the Company’s
Special Common Shares, as reported in the New York Stock Exchange Composite
Transaction section of the Wall Street Journal for the last trading day in the
month of February of each year. 
Notwithstanding the foregoing, the annual award to be distributed in March 2009
shall be distributed $45,000 in the form of Special Common Shares and $10,000
in the form of cash.

 

3.              A director’s meeting fee of $1,750 for each meeting
attended and reimbursement of reasonable expenses incurred in connection with
attendance at meetings of the Board of Directors, paid in cash.

 

4.              The Chairperson of the Board of Directors will receive
an additional annual retainer fee of $45,000, paid in cash.

 

Audit Committee Service

 

Each non-employee
director who serves on the Audit Committee, other than the Chairperson, will
receive an annual committee retainer fee of $11,000, a committee meeting fee of
$1,750 for each meeting attended and reimbursement of reasonable expenses
incurred in connection with attendance at meetings of the Audit Committee.  The Audit Committee Chairperson will receive
an annual retainer fee of $22,000, a committee meeting fee of $1,750 for each
meeting attended and reimbursement of reasonable expenses incurred in
connection with attendance at such meeting.

 

Compensation Committee Service

 

Each non-employee
director of the Company who serves on the Compensation Committee, other than
the Chairperson, will receive an annual committee retainer fee of $7,000, a
committee meeting fee of $1,750 for each meeting attended and reimbursement of
reasonable expenses incurred in connection with attendance at each meeting of
the committee.  The Compensation
Committee Chairperson will receive an annual retainer fee of $14,000, a
committee meeting fee of $1,750 for each meeting attended and reimbursement of
reasonable expenses incurred in connection with attendance at such meeting.

 

 

Corporate Governance Committee
Service

 

Each non-employee
director of the Company who serves on the Corporate Governance Committee, other
than the Chairperson, will receive an annual committee retainer fee of $5,000,
a committee meeting fee of $1,750 for each meeting attended and reimbursement
of reasonable expenses incurred in connection with attendance at meetings of
the Corporate Governance Committee.  The
Corporate Governance Committee Chairperson will receive an annual retainer fee
of $10,000, a committee meeting fee of $1,750 for each meeting attended and
reimbursement of reasonable expenses incurred in connection with attendance at
such meeting.

 

Miscellaneous

 

Under the Plan,
annual retainers will be paid in cash on a quarterly basis, as of the last day
of each calendar quarter, and will compensate the non-employee director for
services performed during such calendar quarter.

 

Fees for meetings
of the board and all committee meetings will be paid in cash on a quarterly basis
as of the last day of each calendar quarter, and will compensate the
non-employee director for meetings attended during such calendar quarter.

 

Non-employee
directors shall timely submit for reimbursement their reasonable expenses
incurred in connection with meeting attendance, and the Company shall reimburse
such expenses within two weeks after submission.

 

Upon approval of this amended Plan by shareholders of
the Company, directors of the Company shall have the authority without further
shareholder approval to further amend this Plan from time to time, including
amendments to increase the amount of the compensation payable in Special Common
Shares from time to time, provided that the total number of Special Common
Shares issued under the Plan shall not exceed the amount approved by
shareholders of the Company.Exhibit 10.5

 

UNITED
STATES CELLULAR CORPORATION (the “Company”)

 

Compensation
Plan for Non-Employee Directors (the “Plan”)

 

As
Amended, Effective May 20, 2008

 

The purpose of the Plan
is to provide appropriate compensation to non-employee directors for their
service to the Company and to ensure that qualified persons serve as
non-employee members of the Board of Directors.

 

The Plan was approved
pursuant to the authority granted in Section 12 of Article V of the
Company’s By-Laws, which provides that the Board of Directors shall have
authority to establish reasonable compensation of directors, including
reimbursement of expenses incurred in attending meetings of the Board of
Directors.

 

Board Service

 

Each director of the
Company who is not an employee of the Company, Telephone and Data Systems, Inc.
(“TDS”), TDS Telecommunications Corporation, or any other subsidiary of TDS (“non-employee
director”) will receive:

 

1.               An annual director’s retainer fee of
$55,000 paid in cash.

 

2.               An annual award of $55,000 paid in the
form of the Company’s Common Shares, which shall be distributed in March on
or prior to March 15 of each year, beginning in March, 2009, for services
performed during the 12 month period that commences on March 1 of the
immediately preceding calendar year and ends on the last day of February of
the calendar year of payment.  The number
of shares shall be determined on the basis of the closing price of the Company’s
Common Shares, as reported in the New York Stock Exchange Composite Transaction
section of the Wall Street Journal for the last trading day in the month of February of
each year.  (A director who is not a
citizen of the United States may, at his or her election, receive such award in
the form of cash.)  Notwithstanding the
foregoing, the annual award of $55,000 to be distributed in March, 2009 shall
be distributed $45,000 in the form of Common Shares and $10,000 in the form of
cash.

 

3.               A director’s meeting fee of $1,750 for
each meeting attended and reimbursement of reasonable expenses incurred in
connection with attendance at meetings of the Board of Directors, paid in cash.

 

Audit Committee Service

 

Each non-employee
director who serves on the Audit Committee, other than the Chairperson, will
receive an annual committee retainer fee of $11,000, paid quarterly, a
committee meeting fee of $1,750 for each meeting attended and reimbursement of
reasonable expenses incurred in connection with attendance at meetings of the
Audit Committee.  The Audit Committee
Chairperson will receive an annual retainer fee of $22,000, paid quarterly, a
committee meeting fee of $1,750 for each meeting attended and reimbursement of
reasonable expenses incurred in connection with attendance at such meeting.

 

Stock Option Compensation
Committee Service

 

Each non-employee
director of the Company who serves on the Stock Option Compensation Committee,
other than the Stock Option Compensation Committee Chairperson, will receive an
annual committee retainer fee of $7,000, paid quarterly, a committee meeting
fee of $1,750 for each meeting attended and reimbursement of reasonable
expenses incurred in connection with attendance at each meeting of the
committee.  The Stock Option Compensation
Committee Chairperson will receive an annual retainer fee of $14,000, paid
quarterly, a committee meeting fee of $1,750 for each meeting attended and
reimbursement of reasonable expenses incurred in connection with attendance at
such meeting.

 

Miscellaneous

 

Under the Plan, annual
retainers will be paid in cash on a quarterly basis, as of the last day of each
calendar quarter, and will compensate the non-employee director for services
performed during such calendar quarter.

 

 

Fees for meetings of the
board and all committee meetings will be paid in cash on a quarterly basis as
of the last day of each calendar quarter, and will compensate the non-employee
director for meetings attended during such calendar quarter.

 

Non-employee directors
shall timely submit for reimbursement of reasonable expenses incurred in
connection with meeting attendance, and the Company shall reimburse such
expenses within two weeks after submission. 
In no event shall such reimbursement occur following the last day of the
calendar year following the calendar year in which the expense was incurred.

 

Upon approval of this
amended Plan by shareholders of the Company, directors of the Company shall
have the authority without further shareholder approval to further amend this
Plan from time to time, including amendments to increase the amount of the
compensation payable in Common Shares from time to time, provided that the
total number of Common Shares issued under the Plan shall not exceed the amount
approved by shareholders of the Company.

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