Document:

EX-10.1

 Exhibit 10.1 

FORM OF TRANSITION SERVICES AGREEMENT 

THIS AGREEMENT (this “Agreement”) is made as of [—], between
International Paper Company, a New York corporation (“IP”), and xpedx Holding Company, a Delaware corporation (“Spinco” and, together with IP, the “Parties”). 

WHEREAS, IP, Spinco and UWW Holdings, Inc., a Delaware corporation, have entered into the Contribution and Distribution Agreement, dated as of
January 28, 2014 (the “Contribution and Distribution Agreement”), pursuant to which, among other things, certain assets and liabilities constituting the Spinco Business will be transferred to Spinco and its Subsidiaries, and
all of the outstanding shares of Spinco Common Stock will be distributed to IP’s stockholders; 
 WHEREAS, the Spinco Business uses
certain services provided by IP or by third parties under contract to IP, and Spinco desires to obtain the use of these services for the purpose of enabling it to manage an orderly transition; 

WHEREAS, Spinco acknowledges that IP is not in the business of providing such services to third parties; and 

WHEREAS, capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Contribution and Distribution
Agreement. 
 NOW, THEREFORE, in consideration of 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 agree as follows: 
  

	1.	DEFINITIONS; INTERPRETATION 

 1.1 Definitions. The following terms shall have the
respective meanings set out below and grammatical variations of such terms shall have corresponding meanings: 
 “Additional
Services” has the meaning set forth in Section 2.11. 
 “Agreement” has the meaning set forth in the
preamble. 
 “Contribution and Distribution Agreement” has the meaning set forth in the recitals. 

“Distribution Date” means the date of closing of the transactions contemplated by the Contribution and Distribution
Agreement. 
 “Excluded Services” are those services set forth on Schedule II hereto. 

“First Extension Period” means the period of time from and including the 13th month following the Distribution Date through
and including the 18th month following the Distribution Date. 
 “Intellectual Property” means, collectively, any U.S. and
non-U.S. issued, registered, unregistered and pending: (i) patents and patent applications (including any divisionals, 

 
continuations, continuations-in-part, reissues, renewals, re-examinations, extensions, provisional and applications for any of the foregoing), inventor’s certificates, utility model rights
and similar rights, petty patents and applications therefor; (ii) works of authorship, mask works, copyrights, and copyright and mask work registrations and applications for registration; (iii) trademarks and service marks (including those
which are protected without registration due to their well-known status), trade names, corporate names, domain names, logos, slogans, taglines, trade dress, general intangibles of like nature, and other indicia of source, origin, endorsement,
sponsorship or certification, designs, industrial designs, product packaging shape, and other elements of product and product packaging appearance together with all registrations and applications for registration of any of the foregoing and all
goodwill related to any of the foregoing; (iv) unpatented inventions (whether or not patentable), trade secrets under applicable law, know-how and confidential or proprietary information, including (in whatever form or medium), discoveries,
ideas, compositions, rights in software (including all source and object code related thereto), computer software documentation, database, drawings, designs, plans, proposals, specifications, photographs, samples, models, processes, procedures,
data, information, manuals, reports, financial, marketing and business data, pricing and cost information, correspondence and notes; (v) all claims and rights related to any of the foregoing; and (vi) all other intellectual property or
proprietary rights. 
 “Licensee” has the meaning set forth in Section 16. 

“Licensor” has the meaning set forth in Section 16. 

“Losses” means any damage, loss, liability, expense, lost profits or diminution in value (including reasonable expenses of
investigation, enforcement and collection and reasonable attorneys’ and accountants’ fees and expenses), but shall not include liability to another Party or any of its Affiliates (or any of their respective Related Parties (as defined in
the Contribution and Distribution Agreement) for any exemplary damages or punitive damages, or any other damages to the extent not reasonably foreseeable, arising out of or in connection with this Agreement or any Transaction Agreement (in each
case, unless any such damages are payable to a third party pursuant to a Third-Party Claim). 
 “Materials” has the meaning
set forth in Section 15.1. 
 “Merger Agreement” has the meaning set forth in the Contribution and Distribution
Agreement. 
 “Migration” means the transition or migration from the provision of a particular Service by Service Provider
to Service Recipient under this Agreement to performance of such Service by Service Recipient or a third party designated by Service Recipient. 

“Migration Services” has the meaning set forth in Section 5.2. 

“Omitted Services” has the meaning set forth in Section 2.9. 

“Party” means either IP or Spinco, as the context requires, and “Parties” means both of them, as the context
requires. 

  
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 “Post-Term Invoice” has the meaning set forth in Section 3.9. 

“Project Manager” has the meaning set forth in Section 14.1. 

“Providing Party” has the meaning set forth in Section 11. 

“Receiving Party” has the meaning set forth in Section 11. 

“Reference Period” means the 2013 calendar year. 

“Reverse Transition Services” means each service specified in Part B of Schedule I hereto to be provided from
Spinco to IP. 
 “Sales and Service Taxes” has the meaning set forth in Section 3.7. 

“Second Extension Period” means the period of time from and including the 19th month following the Distribution Date through
and including the 24th month following the Distribution Date. 
 “Schedules” shall mean Schedule I, Schedule
II, Schedule III and any Supplemental Schedule. 
 “Security Policies” has the meaning set forth in
Section 2.5. 
 “Service” means, as the context requires, one or more Transition Services and/or one or more
Reverse Transition Services. 
 “Service Delivery Environment” means the equipment, software, systems, databases,
communications networks and connectivity, and facilities used by Service Provider to provide the Services. 
 “Service
Fees” has the meaning set forth in Section 3.1. 
 “Service Provider” means, in the case of Transition
Services, IP and any of its Affiliates providing Transition Services hereunder, and, in the case of Reverse Transition Services, Spinco and any of its Subsidiaries to the extent that they are providing Reverse Transition Services hereunder. 

“Service Provider Fiscal Month” means a month during Service Provider’s fiscal year, as determined by Service Provider
for accounting purposes. 
 “Service Provider Indemnitees” has the meaning set forth in Section 6.2. 

“Service Recipient” means, in the case of Transition Services, Spinco and any of its Affiliates receiving Transition Services
hereunder, and, in the case of Reverse Transition Services, IP and any of its Subsidiaries to the extent that they are receiving Reverse Transition Services hereunder. 

  
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 “Service Recipient Data” means all the data owned and provided solely by Service
Recipient, or created by Service Provider solely on behalf, or for the benefit, of Service Recipient, that is used by Service Provider solely in relation to the provision of the Services, including employee information, customer information, product
details and pricing information. 
 “Service Recipient Indemnitees” has the meaning set forth in Section 6.1.

 “Supplemental Schedule” has the meaning set forth in Section 2.1. 

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

“Transition Period” means the period from the Distribution Date until all of the Terms for all of the Services have expired
or otherwise terminated in accordance with Section 12, and no further Services are being provided in connection with the Migration; provided that in no event shall the Transition Period exceed a period of time of one year or, if
extended by Service Recipient pursuant to Section 2.12, up to two years, after the Distribution Date. 
 “Transition
Service” means each service specified in Part A of Schedule I hereto to be provided by IP to Spinco. 
 1.2
Interpretation. When a reference is made in this Agreement to a Section or Schedule, such reference shall be to a Section or Schedule of this Agreement unless otherwise indicated. The headings contained in this Agreement are for reference
purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Unless the context requires otherwise, references to an agreement, instrument or other document means such agreement, instrument or other document as
amended, supplemented and modified from time to time to the extent permitted by the provisions thereof, and by this Agreement. Whenever the words “include,” “includes” or “including” are used in this Agreement, they
shall be deemed to be followed by the words “without limitation.” The words “hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole
and not to any particular provision of this Agreement. Unless the context requires, “or,” “neither,” “nor,” “any,” and “either,” shall not be exclusive. All terms defined in this Agreement shall have
the defined meanings when used in any certificate or other document made or delivered pursuant hereto unless otherwise defined therein. The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such
terms and to the masculine as well as the feminine and neuter genders of such terms. When a reference is made in this Agreement to “Service Provider” or “Service Recipient,” such reference shall be to the provider or recipient of
either Transition Services or Reverse Transition Services as the context requires with reference to the particular Transition Service or Reverse Transition Service at issue. Notwithstanding that each of IP and Spinco, and their respective
Affiliates, may act under this Agreement in the capacity of both a Service Provider and a Service Recipient, the rights, duties, obligations or liabilities of a Service Provider or Service Recipient set forth in this Agreement shall be limited as
the context requires to the rights, duties, obligations or liabilities of the Party acting in the capacity of Service Provider or Service Recipient with reference to the particular Services, rights, duties, obligations or liabilities at issue. For
purposes of this Agreement, the obligation of a Party to use its “reasonable best efforts” to achieve a particular result may require such Party to expend resources, incur costs or expenses, or pay amounts, in

  
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each case to the extent such expenditures, costs, expenses or payments, together with all other actions to be taken by such Party in pursuit of such result, would constitute the exercise of such
Party’s “reasonable best efforts”. 
  

	2.	TERM AND PROVISION OF SERVICES 

 2.1 Subject to Section 12, the term of this
Agreement shall be for the Transition Period. Subject to Section 12, each Service shall be provided for the period of time following the Distribution that is indicated on the Schedules for such Service and each Additional Service,
Omitted Service or Migration Service, if any, shall be provided for the period of time as specified in a supplemental written schedule (i) mutually agreed upon by the Parties acting reasonably and in good faith, in the case of Additional
Services or Migration Services, or (ii) subject to prior confirmation in good faith by Service Provider acting reasonably, delivered by Service Recipient, in the case of Omitted Services (each such supplemental written schedule, a
“Supplemental Schedule”) setting forth the terms of such Additional Service, Omitted Service or Migration Service to be provided (any such period of time with respect to a Service, an Additional Service, an Omitted Service or a
Migration Service, including any extension period agreed to by the Parties pursuant to Section 2.12, a “Term”); provided that in no event shall any Term exceed a period of time of one year or, if extended by Service
Recipient pursuant to Section 2.12, up to two years, after the Distribution Date. 
 2.2 During the Transition Period, but
subject to Section 12, the applicable Term and the provisions set forth in this Agreement, Service Provider shall provide to Service Recipient (or cause to be provided by its Affiliates or third parties to Service Recipient) each Service
set forth on Schedule I hereto, which Schedule I shall also include the scope of such Service and fees associated with such Service. For the avoidance of doubt, any Supplemental Schedule shall be deemed to be part of Schedule I
hereto. 
 2.3 Except as otherwise expressly provided in the Schedules, Service Provider shall provide each Service to Service Recipient
(i) in at least substantially the same manner, scope and nature, at substantially the same level of professionalism, workmanship and quality, with substantially equal priority and substantially equal treatment as such Service was provided, or
caused to be provided, by Service Provider or any of its Affiliates to the Spinco Business, in the case of a Transition Service, and to the IP Business, in the case of a Reverse Transition Service, during the Reference Period and (ii) in
compliance with all applicable Laws; provided, that, in the case of clause (i) above, for the purposes of determining the manner, scope, nature, professionalism, workmanship, quality and priority of any Service during the Reference
Period, appropriate and reasonable modifications in manner of delivery may be made for security, confidentiality, and data integrity so long as such modifications do not adversely affect the scope, nature, professionalism, workmanship, quality or
priority to the Service Recipient of the Services delivered hereunder in any material respect. 
 2.4 Service Provider and Service Recipient
shall, and shall cause their respective Affiliates to, comply with applicable privacy and data security Laws in the provision or receipt of Services. 

  
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 2.5 Service Recipient shall comply with all of Service Provider’s security policies,
procedures and requirements relating to the Service Delivery Environment that have been, from time to time, previously provided in writing to Service Recipient (including those adopted after the date hereof to the extent so provided) in connection
with its access and use of the Services (the “Security Policies”), and shall not tamper with, compromise or circumvent any security or audit measures employed by Service Provider. 

2.6 Service Provider shall limit access to the Service Delivery Environment to Service Provider personnel who are specifically authorized to
have such access, and shall take such measures to prevent unauthorized access, use, destruction, alteration or loss of Spinco Business data and other information contained therein as employed with respect to IP Business data. Service Recipient shall
access and use only that portion of the Service Delivery Environment for which Service Recipient has been granted the right to access and use; provided, however, that Service Provider shall not unreasonably limit the grant of such access and use by
authorized personnel. Neither Party shall establish any type of external network connectivity into the other Party’s systems or network, including WAN or Internet connectivity, without the prior written consent of the other Party. Service
Recipient shall limit access of its personnel to the Service Delivery Environment to those personnel who are specifically authorized to have such access and shall cause such personnel to comply with the Security Policies in accessing the Service
Delivery Environment in accordance with the terms of Section 2.5. 
 2.7 If, at any time, a Party determines that (a) any
of its personnel has sought to circumvent, or has circumvented, the Security Policies, (b) any unauthorized personnel of such Party has accessed the Service Delivery Environment, or (c) any of its personnel has engaged in activities that
may reasonably be expected to lead to the unauthorized access, use, destruction, alteration or loss of data, information or software, such Party shall promptly terminate such personnel’s access to the Service Delivery Environment and promptly
notify the other Party in writing. In addition, Service Provider shall have the right to deny personnel of Service Recipient access to the Service Delivery Environment upon at least 24 hours’ written notice to Service Recipient in the event
that Service Provider reasonably believes that such personnel have engaged in any of the activities set forth in this Section 2.7 or otherwise pose a security concern. Each Party will reasonably cooperate with the other Party in
investigating any apparent unauthorized access to or use of the Service Delivery Environment. 
 2.8 The Parties acknowledge that, subject
to Section 2.3, the manner, means, and resources to provide the Services are in the reasonable discretion of Service Provider; provided that Service Provider shall in good faith discuss and consider any reasonable suggestions of
Service Recipient with respect to the foregoing that are consistent with the terms of this Agreement. 
 2.9 If any services (other than
Excluded Services) that either (i) were previously provided to or for the benefit of either Party or their respective Subsidiaries, or caused to be provided to or for the benefit of either Party or their respective Subsidiaries, in each case by
the other Party or its Subsidiaries, or (ii) are not of the type described in clause (i) but that Spinco reasonably believes are necessary for Spinco to operate the Spinco Business as currently conducted, have been omitted from Schedule
I hereto (“Omitted Services”), then at the request of Service Recipient (in the case of clause (i), made within one year after the Distribution Date, and 

  
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in the case of clause (ii), made within six months after the Distribution Date), (A) in the case of services pursuant to the foregoing clause (i), Service Provider shall provide such
services, or cause such services to be provided, as promptly as reasonably practicable, pursuant to a Supplemental Schedule and (B) in the case of services pursuant to the foregoing clause (ii), so long as (x) Service Provider has the
capability and existing capacity to provide such services, (y) Service Provider has provided such services to any of its other businesses within six months prior to the date of such request and (z) Service Recipient is unable to secure
such services from a third party on commercially reasonable terms, Service Provider shall use its reasonable best efforts to provide such services, or cause such services to be provided, as promptly as reasonably practicable, pursuant to a
Supplemental Schedule; provided, in each case, that the obligations of Service Provider to provide any Omitted Services shall be subject to Service Recipient’s use of its reasonable best efforts to cooperate with Service Provider in the
provision of such services, and to the extent that changes to the systems, operations or business of Service Recipient implemented in connection with the transactions contemplated by the Contribution and Distribution Agreement or Merger Agreement or
after the Distribution Date require alterations in the means of providing any such service, Service Provider shall be obligated only to use its reasonable best efforts to make such alterations. Service Recipient shall use its reasonable best efforts
to cooperate with Service Provider in the provision of such services. Any Omitted Service that is provided or caused to be provided by Service Provider pursuant to this Section 2.9 shall be a “Transition Service” or a
“Reverse Transition Service”, as applicable, for the purposes of this Agreement (other than as specifically indicated herein). 

2.10 Subject to the service level requirements set forth in Section 2.3, Service Provider may use third parties to provide some or
all of the Services. Service Provider agrees that, to the extent such third-party Services are provided to Service Recipient pursuant to contracts between Service Provider and the third-party service provider, Service Provider will (i) to the
extent such contracts allow Service Provider to take such actions for the benefit of Service Recipient (after the use by Service Provider of its reasonable best efforts to obtain consent to do so, if applicable), pass-through or grant to Service
Recipient any license to Intellectual Property granted to Service Provider to the extent such license is necessary for Service Recipient to receive or utilize the Services; and (ii) enforce its rights and remedies, including indemnification
obligations and obligations of the third-party service provider to comply with specified service levels and warranties, against any such third parties relating to the Services to the extent it would otherwise enforce such rights and remedies on
behalf of itself or any of its Affiliates under similar circumstances relating to similar matters. Any reasonable and out-of-pocket costs incurred by Service Provider in pursuing remedies on Service Recipient’s behalf and at Service
Recipient’s direction and request, to the extent associated with a failure to provide Services hereunder, shall be invoiced to Service Recipient as Service Fees. Unless specifically agreed in writing by the Parties, Service Recipient will be
responsible for incremental costs incurred and associated with third-party contracts initiated during the Transition Period by Service Provider, subject to Section 3.3; provided, that Service Provider shall use its reasonable best
efforts to minimize such incremental costs. Service Provider will consult with and obtain the prior written consent of (such consent to be provided within five (5) Business Days and not to be unreasonably withheld) Service Recipient prior to
retaining any third party to provide Services where such third party (a) is not also providing substantially similar services to Service Provider for Service Provider’s business, or (b) did not provide the Services (or substantially
similar 

  
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services) to the Spinco Business, in the case of Transition Services, or to the IP Business, in the case of Reverse Transition Services, as applicable, prior to Distribution. Notwithstanding any
such use of third parties, Service Provider shall remain fully obligated for the provision of such Services to the Service Recipient in accordance with the terms hereof; provided, however, if (i) Service Provider elects to use a
third-party service provider for all or substantially all of its and its Subsidiaries’ requirements and/or needs and (ii) Service Provider is able to assign, and has assigned, to Service Recipient, Service Provider’s rights and
remedies against such third-party service provider, such that Service Recipient may pursue such rights and remedies directly, Service Provider shall have no liability to Service Recipient in connection with a failure to perform by such third party
that is not caused by the action or inaction of Service Provider. 
 2.11 In the event that Service Recipient requires any additional
services (excluding any Excluded Services and other than Omitted Services or Migration Services, which shall be governed by Sections 2.9 and 5.2, respectively) (“Additional Services”), Service Recipient may submit
a written request describing such services to Service Provider’s Project Manager, and the Project Managers of each of Service Recipient and Service Provider shall meet to discuss such request. Service Provider shall act reasonably and in good
faith in determining whether to provide such additional services. Any Additional Service that is provided or caused to be provided by Service Provider pursuant to this Section 2.11 shall be a “Transition Service” of
“Reverse Transition Service”, as applicable, for the purposes of this Agreement (other than as specifically indicated herein). 

2.12 In the event that any Service is required beyond its Term, Service Recipient shall provide Service Provider with a written notice of
extension no later than forty-five (45) days prior to the expiration of the Term of such Service. Such notice shall indicate the period during which Service Recipient wishes to receive such Service after the date of expiration of the Term for
such Service; provided that such period shall not extend beyond the date which is two years from the Distribution Date. Subject to obtaining any necessary third-party consents, Service Provider shall provide, or cause to be provided, the
Service to Service Recipient for such period, it being understood and agreed that the fees for each applicable Service shall be increased by (i) 10% during the First Extension Period and (ii) 20% during the Second Extension Period. Service
Recipient will reimburse Service Provider for any reasonable and documented incremental fees charged by third-party service providers in connection with granting any consent or otherwise extending the Service, in each case, solely with respect to an
extension beyond the Term. 
 2.13 Service Provider shall not be required to provide a Service to the extent the provision of such Service
by Service Provider materially conflicts with any contract or agreement to which Service Provider is a party prior to the date hereof or the rights of any third party with respect thereto or violates any applicable Law. The Service Provider shall
use reasonable best efforts to obtain any consents from third-parties that Service Provider reasonably believes are necessary in order for Service Provider to provide the Services. In the event that Service Provider is unable to obtain any such
consent, the Parties shall work together to agree upon, and Service Provider shall use its reasonable best efforts (and Service Recipient will cooperate with Service Provider) to implement, a commercially reasonable alternative arrangement. 

  
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 2.14 Notwithstanding anything to the contrary that may be set forth or implied elsewhere in this
Agreement or in the Contribution and Distribution Agreement, Service Provider shall not, and shall be under no obligation to, provide any Excluded Services after the Distribution Date. 

2.15 Unless otherwise provided for in this Agreement, the Parties shall use their reasonable best efforts to cooperate with each other in all
matters relating to the provision and receipt of the Transition Services and the Reverse Transition Services. Such cooperation shall include exchanging information, providing electronic access to systems used in connection with the Transition
Services and Reverse Transition Services and obtaining all consents, licenses, sublicenses or approvals necessary (including the payment of any reasonable fees or expenses) to permit each Party to perform its obligations hereunder, in each case,
subject to the restrictions of Section 11. Each Party shall cooperate with the other Party in determining the extent to which any Tax is due and owing with respect to any of the Transition Services or Reverse Transition Services, as
applicable, and in providing and making available appropriate documentation or information reasonably requested by the other Party including, but not limited to, applicable resale and/or exemption certificates. 

 

	3.	PRICING, BILLING AND PAYMENT 

 3.1 With respect to each Service, Service Recipient shall
pay to Service Provider those amounts determined in accordance with the rates and charges, including any set-up or one-time costs, set forth in the Schedule for such Service, and in addition, Service Recipient
shall pay Service Provider all reasonable incidental costs and expenses reasonably incurred by Service Provider in providing the Services, including air fare (coach class), lodging, meals, mileage, parking and ground transportation, in each case in
accordance with Service Provider’s standard policies with respect to such incidental costs and expenses (collectively, the “Service Fees”). Service Fees for Migration Services shall be at the rate of $200 per hour, plus all
reasonable incidental costs and expenses reasonably incurred by Service Provider in providing the Migration Services. 
 3.2 Service Fees
(if any) for Omitted Services and Additional Services shall be developed in good faith by the Parties pursuant to the following guidelines: 

(a) with respect to internal resources of Service Provider or its Affiliates used in delivering the Service, together with any
third-party products or services used or consumed in the ordinary course of delivering the Service that are not pass-through costs or reimbursable expenses, Service Fees shall be based on a good faith allocation of Service Provider’s
centralized costs associated with the Service consistent with Service Provider’s recent historical practices over the Reference Period for allocating such costs among its lines of business, plus all reasonable incidental costs and expenses
reasonably incurred by Service Provider in providing the Services; and 
 (b) with respect to any Services provided by
third-party service providers, Service Fees shall be based on the reasonable and documented actual cost paid by Service Provider to the third-party service provider for the products or services furnished by the third-party service provider for the
benefit of Service Recipient, plus all reasonable incidental costs and expenses reasonably incurred by Service Provider in providing the Services. 

  
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 3.3 In the event that any Service is terminated by Service Recipient in accordance with
Section 12.3, the Service Fees shall automatically be adjusted downward (by the associated fee for such Service set forth on the respective Schedule from and after the first day of the month following termination of such Service). To the
extent that such Service is provided to Service Provider by a third-party service provider, Service Provider may at any time increase the charges for any Service upon written notice to Service Recipient provided such increase is only to the extent
of the amount of increase charged by such third-party service provider. 
 3.4 Not later than twenty-one (21) days after the last day
of each calendar month, Service Provider shall provide to Service Recipient an itemized invoice for the preceding month’s Service Fees. The amount stated in such invoice (to the extent such amount is not the subject of a good faith dispute in
accordance with the terms set forth in Section 3.10) shall be paid by Service Recipient in full within thirty (30) days of the date of Service Recipient’s receipt of the invoice (or the next Business Day following such date, if
such thirtieth (30th) day is not a Business Day) through payment to an account designated by Service Provider. To protect confidential or competitively sensitive information, Service Provider may aggregate the Service Fees with respect to some
or all of the Services included in such invoice; provided, that Service Provider shall, and shall cause its Affiliates to, cooperate and provide such information as reasonably requested by Service Recipient and provide such back-up therefor
as reasonably requested by Service Recipient in connection therewith to the extent reasonably required to permit Service Recipient and its Representatives to review and evaluate the amounts set forth in such invoice and verify such amounts. If any
such review reveals any overpayment by Service Recipient, Service Provider shall promptly refund the amount of such overpayment to Service Recipient (including any interest accrued daily on such overpayment at an annual interest rate equal to 6% and
reimburse, to the extent any such review reveals an overpayment of 10% or more, Service Recipient for its reasonable and documented out-of-pocket costs and expenses incurred in connection with such review. Any dispute regarding overpayment shall be
resolved by engaging KPMG LLP to arbitrate and resolve such dispute, which shall be resolved in accordance with the processes and procedures set forth in Section 5.2(c) of the Contribution and Distribution Agreement. If KPMG LLP is unable or
unwilling to act as arbitrator, a nationally recognized accounting firm shall be selected by lot from among the remaining nationally recognized firms which are not the regular independent auditor firm of IP or the Spinco, and in such event
references herein to KPMG LLP shall be deemed to refer to such replacement accounting firm. 
 3.5 Without prejudice to Service
Provider’s other rights and remedies, in the event any sum due (other than those subject to dispute in good faith) to Service Provider pursuant to the terms of this Agreement remains unpaid ten (10) Business Days after the applicable due
date, interest shall accrue daily, from the due date until the date of actual payment, at an annual interest rate equal to 6%. 
 3.6 The
cost of each Service is a monthly cost, and the full monthly cost of each Service (applying the volume level, if applicable, of such Service at the beginning of a Service Provider Fiscal Month) shall apply in respect of such Service until such
Service is terminated in its entirety as provided in Section 12.3. 

  
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 3.7 All payments due to Service Provider pursuant to the terms of this Agreement shall be
exclusive of any sales, service, value-added or other similar Tax or levy imposed upon the Transition Services or Reverse Transition Services, as applicable, provided pursuant to this Agreement (“Sales and Service Taxes”), which
shall be payable by Service Recipient unless (for the avoidance of doubt) the applicable Law provides that the relevant Sales and Service Taxes are levied directly on the Service Provider; in such case the Service Provider will pay the relevant
Sales and Service Tax directly to the Taxing authority in accordance with applicable Law and Service Recipient shall reimburse Service Provider for such relevant Sales and Services Taxes. In connection with the Transition Services or Reverse
Transition Services, as applicable, provided pursuant to this Agreement, each Party shall be responsible for, and shall withhold or pay or both (or cause to be withheld or paid or both), as may be required by Law, all Taxes pertaining to the
employment of its personnel, agents, servants or designees. Each of Service Provider and Service Recipient shall pay and be responsible for their own Taxes based on their own income or profits or assets. 

3.8 Payments for Services or other amounts due under this Agreement shall be made net of withholding Taxes; provided, however,
that if Service Provider reasonably believes that a reduced rate of withholding Tax applies or Service Provider is exempt from withholding Tax, Service Provider shall provide Service Recipient with appropriate and customary documentation to Service
Recipient that Service Provider qualifies for a reduction to or exemption from withholding under applicable Law. 
 3.9 With respect to any
Service Fees that accrue or are incurred by Service Provider or its Affiliates during the Transition Period but that are not billed by Service Provider in a monthly invoice, or of which Service Provider does not become aware until after the
Transition Period, Service Provider shall set forth such fees in an invoice or invoices submitted to Service Recipient following the end of the Transition Period (each, a “Post-Term Invoice”). Subject to Section 3.10,
and so long as such Post-Term Invoice is received by Service Recipient as promptly as practicable and in any event within one (1) year following the Transition Period, Service Recipient shall remit payment under any such Post-Term Invoice to
Service Provider within thirty (30) days after its receipt of such invoice. 
 3.10 In connection with Section 3.3 or
3.9, in the event of an invoice dispute of which Service Recipient is aware, Service Recipient shall deliver a written statement to Service Provider no later than ten (10) days prior to the date payment is due on the disputed invoice
listing all disputed items and providing a reasonably detailed description of each disputed item. Amounts not in dispute amongst the Parties shall be deemed accepted and shall be paid, notwithstanding disputes on other items, within the period set
forth in Section 3.3 or 3.9, as applicable. The Parties shall use their reasonable best efforts to resolve all such other disputes expeditiously and in good faith with Service Provider continuing to perform the Services in
accordance with this Agreement pending resolution of any dispute. When the disputed amount has been resolved, either by mutual agreement of the Parties or in accordance with the processes and procedures set forth in Section 5.2(c) of the
Contribution and Distribution Agreement, any Party owing an amount to another Party as a result of such resolution shall pay such amount 

  
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owed to such other Party within ten (10) Business Days following such resolution. This Section 3.10 (including any resolution of a dispute in accordance with this
Section 3.10) shall not relieve Service Provider of its obligations to perform the Services. 
 3.11 Each of the Parties hereby
acknowledges that it shall have no right under this Agreement to offset any amounts owed (or to become due or owing) to the other Party, whether under this Agreement, the Contribution and Distribution Agreement, the Merger Agreement or otherwise,
against any other amount owed (or to become due or owing) to it by the other Party. 
  

	4.	ACCESS 

 The Service Provider and Service Recipient shall, and shall cause their
respective Affiliates to, provide to each other and their respective agents and vendors reasonable access (during normal business hours (when appropriate with respect to physical access), upon reasonable notice and supervised by the appropriate
personnel of the Parties or as otherwise agreed by the Parties) to the information, personnel, and systems necessary for the efficient and accurate administration, provision, receipt or use of each of the Services and to avoid the duplication of any
expenses or benefits thereunder; provided that all such information shall be shared subject to the confidentiality obligations set forth in Section 11, and any Party or third-party vendor receiving such information shall agree to
be bound by such obligations prior to the provision of any such information. All Services provided will be based upon reasonably timely, accurate and complete information from Service Recipient, which Service Recipient shall use its reasonable best
efforts to provide, and Service Provider shall be released from its obligations to provide or cause to be provided reasonably timely, accurate and complete Services to the extent (but only to the extent) Service Recipient fails to provide timely,
accurate and complete information to Service Provider reasonably necessary for the provision of such Services. Service Recipient’s failure to perform or delay in performing any of its obligations hereunder will not constitute grounds for
termination by Service Provider of this Agreement except as provided in Section 12.2; provided, however, that Service Provider’s nonperformance of its obligations under this Agreement shall be excused if and to the
extent (i) such Service Provider’s nonperformance results from Service Recipient’s failure to perform its obligations hereunder and (ii) Service Provider provides Service Recipient with written notice of such nonperformance. 

 

	5.	TRANSITION 

 5.1 The Parties acknowledge and agree that the Services to be provided
hereunder are transitional in nature and are intended to provide Service Recipient with reasonable time to develop the internal resources and capacities (or to arrange for third-party providers) to provide such Services. No later than 90 days after
the Distribution Date, the Parties shall consult for the purpose of agreeing upon the terms of and a plan for the Migration of all Services. Service Recipient will have the primary responsibility for planning and carrying out the Migration of
Services prior to the expiration of the Transition Period. Subject to Section 5.2 below and the other terms of this Agreement, Service Provider will provide reasonable cooperation and assistance as requested to support the Service
Recipient’s Migration efforts. 
 5.2 To the extent that Service Recipient requires reasonable support, assistance and other services
to effect an orderly Migration without interruption to the Services subject to the 

  
 12 

 
Migration (“Migration Services”), Service Recipient shall submit a written request describing such Migration Services to Service Provider’s Project Manager, and upon at
least ten (10) days’ written notice to Service Provider, the Parties shall meet to discuss and agree, each Party acting reasonably and in good faith, on the scope of such Migration Services. Service Provider will then provide such
Migration Services and assistance on the timing schedule that is reasonably and mutually established by the Parties in good faith; provided that the Parties’ intent is that Migration Services shall include only such services that Service
Provider is capable of providing. Service Provider agrees to cooperate with and assist Service Recipient with training of its personnel, including making its personnel and facilities available to train an agreed number of Service Recipient’s
personnel in connection with the Migration during the Transition Period to permit Service Recipient to provide the Services for itself after the Transition Period. For any Migration Services, Service Recipient will pay to Service Provider the rate
set forth in Section 3.1. Any Migration Service that is provided or caused to be provided by Service Provider pursuant to this Section 5.2 shall be a “Transition Service” or a “Reverse Transition Service”,
as applicable, for the purposes of this Agreement (other than as specifically indicated herein). 
  

	6.	INDEMNITY 

 6.1 Service Provider shall indemnify Service Recipient and its Affiliates and
its and their respective officers, directors, employees, partners, managers or persons acting in a similar capacity, agents, consultants, financial and other advisors, accountants, attorneys and other representatives (the “Service Recipient
Indemnitees”) in respect of, and hold such Service Recipient Indemnitees harmless from and against, any and all Losses incurred or suffered by Service Recipient Indemnitees in connection with the receipt of the Services to the extent that
such Losses result from (i) the gross negligence or willful misconduct of Service Provider, any of its Affiliates or any of its or their respective officers, directors or employees, (ii) the violation of any applicable Law by Service
Provider with respect to this Agreement or (iii) Service Provider’s breach of this Agreement; provided, that, notwithstanding anything in this Agreement to the contrary (including the definition of Losses), Service Recipient
Indemnitees shall be entitled to indemnification hereunder if, and only to the extent, such negligence, misconduct, violation or breach remains uncured after a twenty (20) calendar day period (a “Notice Period”) following
receipt by Service Provider of written notice from the applicable Service Recipient Indemnitee or Service Recipient Indemnitees describing such negligence, misconduct, violation or breach in reasonable detail. 

6.2 The Service Recipient shall indemnify Service Provider and its Affiliates and its and their respective officers, directors, employees,
partners, managers or persons acting in a similar capacity, agents, consultants, financial and other advisors, accountants, attorneys and other representatives (the “Service Provider Indemnitees”) in respect of, and hold Service
Provider Indemnitees harmless from and against, any and all Losses incurred or suffered by Service Provider Indemnitees in connection with the provision of the Services to the extent that such Losses result from (i) the gross negligence or
willful misconduct of Service Recipient, any of its Affiliates or any of its or their respective officers, directors or employees, (ii) the violation of any applicable Law by Service Recipient with respect to this Agreement or such Services or
(iii) Service Recipient’s breach of this Agreement; provided, that, notwithstanding anything in this Agreement to the contrary (including the definition of Losses), Service Provider Indemnitees shall be entitled to indemnification
hereunder if, and only to the extent, such negligence, 

  
 13 

 
misconduct, violation or breach remains uncured after a Notice Period following receipt by Service Recipient of written notice from the applicable Service Provider Indemnitee or Service Provider
Indemnitees describing such negligence, misconduct, violation or breach in reasonable detail. 
 6.3 Each of the Parties agrees to use its
reasonable best efforts to mitigate its respective Losses upon and after becoming aware of any event or condition that would reasonably be expected to give rise to any Losses that are indemnifiable hereunder. 

6.4 The procedures specified in Article VI of the Contribution and Distribution Agreement shall apply with respect to any indemnification
claims under this Section 6. 
  

	7.	LIMITED WARRANTY; LIMITATION ON DAMAGES 

 NOTWITHSTANDING ANY PROVISION TO THE
CONTRARY, UNLESS EXPRESSLY SET FORTH HEREIN, THE SERVICE PROVIDER REPRESENTS AND WARRANTS ONLY THAT THE SERVICES SHALL BE IN CONFORMITY WITH THIS AGREEMENT (INCLUDING SECTION 2.3). THE ABOVE-STATED LIMITED WARRANTY IS THE SERVICE PROVIDER’S
SOLE AND EXCLUSIVE WARRANTY WITH RESPECT TO ANY SERVICES PROVIDED UNDER THIS AGREEMENT. THE SERVICE PROVIDER DOES NOT MAKE ANY OTHER WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY AND SPECIFICALLY DISCLAIMS ANY IMPLIED WARRANTIES, WHETHER OF
MERCHANTABILITY, SUITABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR OTHERWISE FOR SUCH SERVICES; PROVIDED THAT THIS SECTION 7 SHALL NOT LIMIT, ALTER OR OTHERWISE CHANGE THE RIGHTS AND OBLIGATIONS OF THE PARTIES PURSUANT TO ANY OTHER
TRANSACTION AGREEMENT, INCLUDING THE CONTRIBUTION AND DISTRIBUTION AGREEMENT. ANY REPRESENTATION OR WARRANTY IN RESPECT OF ANY SUCH SERVICE SHALL BE INCLUDED IN THE WRITTEN AGREEMENT SETTING FORTH THE TERMS OF SUCH SERVICE. 

IN NO EVENT SHALL ANY PARTY OR SUCH PARTY’S AFFILIATES, OR ANY OF ITS OR THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR
REPRESENTATIVES, BE LIABLE FOR SPECIAL, PUNITIVE, EXEMPLARY, CONSEQUENTIAL OR INDIRECT DAMAGES, WHETHER BASED ON CONTRACT, TORT, STRICT LIABILITY, OTHER LAW OR OTHERWISE, EXCEPT, IN THE CASE OF SPECIAL, CONSEQUENTIAL OR INDIRECT DAMAGES, TO THE
EXTENT REASONABLY FORESEEABLE AND ARISING AS A RESULT OF SUCH PARTY’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, AND IN ALL CASES EXCEPT TO THE EXTENT PAYABLE TO A THIRD PARTY. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, THE
LIABILITY OF SERVICE PROVIDER WITH RESPECT TO SERVICES PROVIDED PURSUANT TO THIS AGREEMENT, WHETHER IN CONTRACT, TORT OR OTHERWISE, SHALL NOT EXCEED THE FEES RECEIVED BY SERVICE PROVIDER PURSUANT TO THIS AGREEMENT, EXCEPT FOR DAMAGES ARISING AS A
RESULT OF SUCH PARTY’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT. 

  
 14 

	8.	OBLIGATION TO PROVIDE SERVICES 

 The Parties acknowledge that notwithstanding any
delegation of their respective responsibilities under this Agreement to a third party, except as provided in the proviso in Section 2.10, such delegating Party shall remain responsible for the provision of the Services which such Party
is obligated to provide and any third-party’s compliance with the performance and standard of performance set forth herein. 
  

	9.	FORCE MAJEURE 

 9.1 Service Provider shall not be responsible for failure or delay in
delivery of any Service that it has responsibility for providing hereunder, if and to the extent caused by an act of God or public enemy, war, government acts, regulations or orders, fire, flood, embargo, quarantine, epidemic, labor stoppages or
disruptions, unusually severe weather or other similar cause beyond the control of Service Provider (a “Force Majeure Event”), provided that Service Provider shall have, promptly after knowledge of the beginning of a Force Majeure
Event, notified Service Recipient of such a Force Majeure Event, the reason therefor, and the estimated probable duration and consequence thereof. The Parties acknowledge and agree that such estimation shall not be considered binding in any way, and
Service Provider shall not incur liability of any kind if such estimation proves to be inaccurate. Service Provider shall use its reasonable best efforts to restore provision of the Services in accordance with this Agreement as soon as reasonably
practicable following the commencement of a Force Majeure Event. 
 9.2 In the event that Service Provider is excused from supplying a
Service pursuant to this Section 9, Service Recipient shall be free to acquire replacement services from a third party at Service Recipient’s expense, and without liability to Service Provider, for the period and to the extent
reasonably necessitated by such non-performance. 
  

	10.	INSURANCE 

 Each Party shall, throughout the term of this Agreement, carry appropriate
insurance with a reputable insurance company covering property damage, business interruptions and general liability insurance (including contractual liability) to protect its own business and property interests. To the extent either Party insures,
in whole or in part, through a plan of self-insurance, the Parties acknowledge that such self-insurance shall be acceptable for purposes of this Agreement. In the case of any conflict between the terms of this Section 10 and the terms of
the Contribution and Distribution Agreement, the Contribution and Distribution Agreement shall control. 
  

	11.	CONFIDENTIALITY OF INFORMATION 

 Except as provided below, all data and information
disclosed between Service Provider and Service Recipient pursuant to this Agreement, including information relating to or received from third parties and any Service Recipient Data, are deemed Confidential Information (as defined in the Contribution
and Distribution Agreement, subject, for the avoidance of doubt, to the limitations set forth in such definition). A Party receiving Confidential Information (the “Receiving Party”) shall not use such information for any purpose
other than for which it was 

  
 15 

 
disclosed by the party providing such information (the “Providing Party”) and, except as otherwise permitted by this Agreement, shall not disclose to third parties any
Confidential Information for a period of five (5) years from the termination or expiration of this Agreement or, with respect to any trade secrets, indefinitely. The obligations of the Receiving Party and the Providing Party with regard to
Confidential Information shall be governed by and set forth in Section 8.5 of the Contribution and Distribution Agreement, which shall be deemed incorporated by reference herein. In addition, nothing herein shall be deemed to limit or restrict
a Party from disclosing any Confidential Information in any action or proceeding by such Party to enforce any rights which such Party may have against the other Party; provided, that such Party shall, to the extent reasonable and not prejudicial to
such Party’s rights, cooperate with the other Party to protect the confidentiality of such Confidential Information, whether by means of a protective order, production under seal or otherwise. 

 

	12.	TERMINATION 

 12.1 This is a master agreement and shall be construed as a separate and
independent agreement for each and every Service provided under this Agreement. Any termination of this Agreement with respect to any Service shall not terminate this Agreement with respect to any other Service then being provided pursuant to this
Agreement. 
 12.2 Upon thirty (30) days’ prior written notice, Service Provider may, at its option, terminate this Agreement with
respect to any or all Services it provides hereunder or suspend performance of its obligations with respect thereto, in either case solely in the event of the failure of Service Recipient to pay any invoice within sixty (60) days of the receipt
of such invoice, unless Service Recipient is disputing the invoice in good faith pursuant to Section 3.10. 
 12.3 If at any
time during the applicable Term, Service Recipient wishes to terminate a Transition Service or a Reverse Transition Service, as the case may be, Service Recipient shall provide a written request of termination to Service Provider at least thirty
(30) days prior to the proposed effective date of termination. If Service Provider determines, in good faith, that the termination of such Service will, or is reasonably likely to, result in Service Provider’s inability to provide any
remaining Services in accordance with this Agreement (taking into account any interdependencies of the proposed terminated Service and the remaining Services), including with respect to the quality standards, or result in a Party’s inability to
maintain the confidentiality of data and information disclosed between Service Provider and Service Recipient pursuant to this Agreement, then Service Provider shall notify Service Recipient thereof in writing and the Parties shall negotiate in good
faith to determine an alternative solution to enable Service Provider to maintain the ability to provide all other Services not subject to such written request of termination provided in the first sentence of this Section 12.3;
provided that in the event the Parties fail to mutually agree upon an alternative solution, Service Recipient shall have the right, in its sole discretion, to cancel and withdraw all or part of such written request of termination and
thereafter such cancelled request shall be of no further force or effect or if Service Recipient does not cancel or withdraw all or part of such request, then such Service shall be terminated effective as of the last day of the month following the
thirty (30)-day notice period. Within thirty (30) days after the effective date of termination of the applicable Services and receipt of an invoice, Service Recipient shall pay all accrued, undisputed (any such dispute to be in good faith) and
unpaid charges for such Services that are due and payable and set forth in such invoice. Service 

  
 16 

 
Recipient will reimburse Service Provider for incremental fees charged by third-party service providers in connection with the termination of Services; provided, that Service Provider will
use its reasonable best efforts to minimize such incremental fees. 
 12.4 Upon termination or expiration of this Agreement for any reason,
Service Provider shall, upon the written request of Service Recipient, deliver to Service Recipient or destroy (provided such destruction is promptly confirmed in writing by Service Provider if requested by Service Recipient), at Service
Provider’s option, all data, records and other information provided to Service Provider by Service Recipient and pertaining to any matters for which Service Provider was providing Transition Services or Reverse Transition Services, as
applicable, hereunder; provided, however, Service Provider may retain copies of such data, records and information to the extent necessary for accounting, tax reporting, compliance with Service Provider’s document retention
policies or other legitimate business purposes, subject to the requirements of Section 11 hereof. 
  

	13.	RELATIONSHIP OF PARTIES 

 In providing the Services, Service Provider is acting as and
shall be considered an independent contractor. This Agreement is not intended to create and shall not be construed as creating between Service Provider and Service Recipient any relationship other than an independent contractor and purchaser of
contract services. The Parties specifically acknowledge that they are not, and this Agreement is not intended to and shall not be construed to make them, affiliates of one another and that no principal and agent, joint venture, partnership or
similar relationship, or any other relationship, that imposes or implies any fiduciary duty, including any duty of care or duty of loyalty exists between the Parties. Except as expressly set forth herein, no Party has the authority to, and each
Party agrees that it shall not, directly or indirectly contract any obligations of any kind in the name of or chargeable against the other Party without such other Party’s prior written consent. 

 

	14.	PROJECT MANAGERS 

 14.1 Service Provider and Service Recipient will each assign one
person to act as that Party’s project manager (the “Project Manager”) for each area of service listed on Schedule III hereto (and other categories, as may be agreed by the Parties). The Project Managers will
(a) represent and act for their respective Party for matters related to the applicable Service, and (b) meet and/or confer on a regular basis (at mutually agreed times and locations) to review the activities under this Agreement and to
discuss the status and progress of such activities. All disputes or issues arising hereunder will be referred to the applicable Project Managers for resolution. In the event any such dispute or issue is not resolved in a timely manner, such matter
will be referred to senior management representatives, with appropriate decision making authority for prompt resolution of the matter. If still not resolved, the issue will be escalated to Service Recipient’s lead representative and Service
Provider’s lead representative for resolution. The names and contact information for each of Service Recipient’s and Service Provider’s lead representative with regard to an issue or dispute arising out of or relating to the
Transition Services and Reverse Transition Services shall be set forth on Scheduled III hereto. Either Party may designate a different individual as its lead representative with respect to the Transition Services or the Reverse Transition
Services at any time by delivering prior written notice to the 

  
 17 

 
other Party. The foregoing shall not in any way limit the rights of the Parties to pursue any other legal and equitable remedies available to them hereunder in the event of a breach of this
Agreement. No Project Manager or lead representative for a Party shall have any authority to amend this Agreement. 
 14.2 Service Provider
will promptly notify Service Recipient of any reassignments or changes in contact information of the Project Manager or other key personnel identified in the Schedules hereto. 

14.3 The Parties agree to use good faith efforts to resolve any controversy or claim arising out of this Agreement, the interpretation of any
of the provisions hereof, or the actions of the Parties hereunder. In the event of a breach of this Agreement, or a dispute as to the meaning of this Agreement or any of its terms which the Parties cannot resolve by themselves amicably, the
following provisions shall apply (which provisions shall be in addition to, and not a limitation of, the Parties’ remedies under Section 6, Section 20.6 or, to the extent referred to pursuant to the terms of this
Agreement, the dispute resolution mechanisms available under Section 5.2(c) of the Contribution and Distribution Agreement): 

(a) The Parties shall endeavor to resolve the dispute as contemplated in Section 14.1. 

(b) If within thirty (30) days after one Party notifies the other in writing of the existence of a dispute, either Party
may, at its option, provide written notice of the intent to arbitrate. In the event the Party that is the recipient of such notice agrees to arbitrate, arbitration shall be according to the rules of the American Arbitration Association, except as
herein modified by the Parties or otherwise as agreed to by the Parties. Within ten (10) days of the agreement of the Parties to arbitrate, each Party will select an arbitrator, and notify the other Party of its selection. Within fifteen
(15) days after receipt of such notice, the respective arbitrators will select a third arbitrator. All such arbitrators shall have experience in the respective businesses of the Parties. A hearing by the arbitration panel must be held within
thirty (30) days after the selection of a chairman and a majority decision of the panel and resolution must be reached within thirty (30) days of such hearing. Decisions of the panel must be in writing and will be final and binding upon
the Parties, and judgment may be entered thereon by any court having jurisdiction. 
 (c) The arbitration proceedings will be
held in New York, New York, unless the Parties agree to a different location. All negotiation and arbitration proceedings will be confidential and will be treated as compromise and settlement negotiations for purpose of all rules of evidence. Each
Party shall bear its own cost of presenting its case, and one-half of the cost incurred by the arbitration panel, or any mediation or alternative dispute resolution procedure, as the case may be, unless the arbitration panel determines otherwise.

 14.4 Nothing in this Section 14 shall supersede the notice/cure and termination rights of the Parties otherwise set forth in
this Agreement. This Section 14 shall apply without prejudice to any Party’s right to seek equitable remedies or injunctive relief to which such Party may be entitled at any time. 

  
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	15.	RECORDS 

 15.1 Service Provider shall retain, for a period of three (3) years
following the Distribution Date, all books, records, files, databases or computer software or hardware (including current and archived copies of computer files) (the “Materials”) with respect to matters relating to the Services
provided to Service Recipient hereunder that are in a form and contain a level of detail substantially consistent with the records maintained by Service Provider in providing similar services to the Spinco Business or the IP Business, as applicable,
prior to the Distribution Date (unless any such Materials have been delivered to Service Recipient or Service Recipient otherwise other has a copy of such information). Each Party agrees to use its reasonable best efforts to provide the other Party
with notice of material modifications to its record retention policies in a timely manner. As promptly as practicable following the expiration of the applicable duration (or earlier termination) of each Service, Service Provider will use its
reasonable best efforts to furnish to Service Recipient in the form reasonably requested by Service Recipient, and assist in the transition of, the Materials belonging to Service Recipient and relating to such Service as clearly identified by
Service Recipient. If at any time during the three (3) year period following the Distribution Date Service Recipient reasonably requests in writing that certain of such Materials be delivered to Service Recipient, Service Provider promptly
shall arrange for the delivery of the requested Materials in a form reasonably requested by Service Recipient to a location specified by, and at the expense of, Service Recipient (unless any such Materials have been delivered to Service Recipient or
Service Recipient otherwise other has a copy of such information). 
 15.2 The Service Recipient Data shall be and shall remain the property
of Service Recipient and, to the extent reasonably practicable, shall be promptly provided to Service Recipient by Service Provider upon Service Recipient’s request. The Service Provider shall use Service Recipient Data solely to provide the
Services to Service Recipient as set forth herein and for no other purpose whatsoever. 
 15.3 Notwithstanding anything herein to the
contrary and subject to Section 11, Service Provider may retain copies of the Materials and Service Recipient Data in accordance with policies and procedures implemented by Service Provider in order to comply with applicable Law,
professional standards or reasonable business practice, including document retention policies as in effect from time to time and in accordance with past practices. 
  

	16.	INTELLECTUAL PROPERTY 

 Unless otherwise specifically provided herein, this Agreement
shall not transfer ownership of any Intellectual Property Assets from either Party to the other Party or to any third party. Ownership of any Intellectual Property Assets created by a Service Provider in connection with providing a Service to a
Service Recipient under this Agreement shall be retained by such Service Provider, unless based on Service Recipient’s Confidential Information. If Service Provider creates any Intellectual Property in connection with providing a Service based
on Service Recipient’s Confidential Information, then the creation of such Intellectual Property that is primarily related to or arising from the Spinco Business shall be considered a “work made for hire” under applicable Law and
shall be owned by Service Recipient. If such creation is not considered a “work made for hire” under applicable Law, then Service Provider hereby 

  
 19 

 
irrevocably assigns, and shall assign, to Service Recipient, without further consideration, all of Service Provider’s worldwide right, title, and interest in and to such Intellectual
Property. Solely to the extent required for the provision or receipt of the Services in accordance with this Agreement, each Party (the “Licensor”), for itself and on behalf of its Affiliates, hereby grants to the other (the
“Licensee”) (and the Licensee’s Affiliates) a non-exclusive, revocable (solely as expressly provided in this Agreement), non-transferable (other than pursuant to Section 17), non-sublicensable (except to third parties as
required for the provision or receipt of Services, but not for their own independent use), royalty-free, worldwide license during the term of this Agreement to use Intellectual Property of the Licensor in connection with this Agreement, but only to
the extent and for the duration necessary for the Licensee to provide or receive the applicable Service under this Agreement. Subject to the rights and licenses granted to Licensee under any other agreement to which the Parties are party, upon the
expiration of such term, or the earlier termination of such Service in accordance with this Agreement, the license to the relevant Intellectual Property will terminate and Licensee shall cease use of such Intellectual Property; provided, that
all licenses granted hereunder shall terminate immediately upon the expiration or earlier termination of this Agreement in accordance with the terms hereof and upon such expiration or termination, Licensee shall cease use of the Intellectual
Property licensed hereunder. The foregoing license is subject to any licenses granted by others with respect to Intellectual Property not owned by the Parties or their respective Affiliates. 

 

	17.	ASSIGNMENT AND DELEGATION 

 This Agreement and all of the provisions hereof shall be
binding upon and shall inure to the benefit of the Parties hereto and their respective successors and permitted assigns. Except as set forth in Section 2.10, neither this Agreement nor any of the rights, interests or obligations
hereunder shall be assigned or delegated, directly or indirectly, in whole or in part, including by operation of law, by any Party hereto without the prior written consent of the other Party hereto, which consent shall not be unreasonably withheld;
provided, however, that either Party may assign this Agreement to any of its Affiliates without the consent of the other Party or delegate its rights or obligations hereunder, in whole or in part, to any of its Affiliates;
provided, further, that Spinco may assign any or all of its rights or interests under this Agreement without the consent of IP (a) to any Person providing the Special Payment Financing pursuant to the terms thereof for purposes of
creating a security interest herein or otherwise assign as collateral in respect of such Special Payment Financing or (b) to any purchaser of all or substantially all of the assets of such Person. No assignment by any Party shall relieve such
Party of any of its obligations hereunder; provided that to the extent full performance or payment is made in full by an Affiliate or Affiliates of Service Provider or Service Recipient with respect to an obligation of Service Provider or
Service Recipient, as applicable, hereunder, such obligation shall be in full satisfaction of such obligation of such Person hereunder. 
  

	18.	NOTICES 

 The procedures specified in Section 10.2 (Notices) of the Contribution and
Distribution Agreement shall apply with respect to all notices, requests, claims, demands and other communications under this Agreement. 

  
 20 

	19.	SURVIVAL 

 The Parties’ rights and obligations under Sections 3,
6, 7, 8, 11 and 14 through 20 shall survive expiration or termination of this Agreement. 
  

	20.	GENERAL PROVISIONS 

 20.1 Severability. If any provision of this Agreement or the
application of any such provision to any Person or circumstance shall be declared judicially to be invalid, unenforceable or void, such decision shall not have the effect of invalidating or voiding the remainder of this Agreement, it being the
intent and agreement of the Parties that this Agreement shall be deemed amended by modifying such provision to the extent necessary to render it valid, legal and enforceable while preserving its intent or, if such modification is not possible, by
substituting therefor another provision that is valid, legal and enforceable and that achieves the original intent of the Parties. 
 20.2
Counterparts. This Agreement may be executed in one or more counterparts each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. Delivery of an executed
counterpart of a signature page to this Agreement by facsimile or portable document format (PDF) shall be as effective as delivery of a manually executed counterpart of any such Agreement. 

20.3 Entire Agreement. This Agreement and the Schedules hereto together with the other Transaction Agreements and any schedules and
exhibits thereto, shall constitute the entire agreement between the Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments and writings with respect to such subject matter. In the case of any
conflict between the terms of this Agreement and the terms of any other Transaction Agreement regarding the subject matter hereof, the terms of this Agreement shall control. In the case of any ambiguity between the terms and condition of the main
body of this Agreement and a Schedule to this Agreement, or with respect to an Omitted Service or an Additional Service, the terms and conditions of the main body of this Agreement shall control. 

20.4 Amendments; Waivers. This Agreement may not be amended except by an instrument in writing signed by both Parties. No failure or
delay by either Party in exercising any right hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right hereunder. Any agreement on
the part of either Party to any such waiver shall be valid only if set forth in an instrument in writing signed on behalf of such Party. 

20.5 No Third Party Beneficiaries. Nothing in this Agreement, express or implied, is intended to or shall confer upon any Person (other
than IP, Spinco and UWWH and their respective successors and permitted assigns who are express intended third-party beneficiaries) any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement, and,
except with regard to and as provided in Section 6, no Person shall be deemed a third party beneficiary under or by reason of this Agreement. 

  
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 20.6 Specific Performance. Notwithstanding anything to the contrary contained herein or in
any other Transaction Agreement, in the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, the Party who is, or is to be, thereby aggrieved will have the right to specific
performance and injunctive or other equitable relief in respect of its rights under this Agreement, in addition to any and all other rights and remedies at law or in equity. The Parties agree that the remedies at law for any breach or threatened
breach, including monetary damages, are inadequate compensation for any Loss and that any defense in any action for specific performance that a remedy at law would be adequate is waived. Any requirements for the securing or posting of any bond with
such remedy are waived by each of the Parties to this Agreement. 
 20.7 Waiver of Jury Trial. AS A SPECIFICALLY BARGAINED INDUCEMENT
FOR EACH OF THE PARTIES TO ENTER INTO THIS AGREEMENT (WITH EACH PARTY HAVING HAD OPPORTUNITY TO CONSULT COUNSEL), EACH OF THE PARTIES EXPRESSLY AND IRREVOCABLY WAIVES THE RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING UNDER THIS AGREEMENT OR
ANY ACTION OR PROCEEDING ARISING OUT OF THE TRANSACTIONS CONTEMPLATED HEREBY OR ANY OTHER TRANSACTION AGREEMENT, REGARDLESS OF WHICH PARTY INITIATES SUCH ACTION OR PROCEEDING, AND ANY ACTION OR PROCEEDING UNDER THIS AGREEMENT OR ANY ACTION OR
PROCEEDING ARISING OUT OF THE TRANSACTIONS CONTEMPLATED HEREBY OR ANY OTHER TRANSACTION AGREEMENT SHALL BE TRIED IN A COURT OF COMPETENT JURISDICTION BY A JUDGE SITTING WITHOUT A JURY. 

20.8 Jurisdiction; Service of Process. ANY ACTION WITH RESPECT TO THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS ARISING HEREUNDER, OR
FOR RECOGNITION AND ENFORCEMENT OF ANY JUDGMENT IN RESPECT OF THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS ARISING HEREUNDER BROUGHT BY THE OTHER PARTY OR PARTIES OR THEIR SUCCESSORS OR ASSIGNS, IN EACH CASE, SHALL BE BROUGHT AND DETERMINED
EXCLUSIVELY IN THE DELAWARE COURT OF CHANCERY AND ANY STATE APPELLATE COURT THEREFROM WITHIN THE STATE OF DELAWARE (OR, IF THE DELAWARE COURT OF CHANCERY DECLINES TO ACCEPT JURISDICTION OVER A PARTICULAR MATTER, ANY STATE OR FEDERAL COURT WITHIN THE
STATE OF DELAWARE). EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT, BY WAY OF MOTION, AS A DEFENSE, COUNTERCLAIM OR OTHERWISE, IN ANY ACTION WITH RESPECT TO THIS AGREEMENT (I) ANY CLAIM THAT IS NOT PERSONALLY SUBJECT TO
THE JURISDICTION OF THE ABOVE NAMED COURTS FOR ANY REASON OTHER THAN THE FAILURE TO SERVE IN ACCORDANCE WITH THIS SECTION 20.8, (II) ANY CLAIM 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 (III) TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY CLAIM THAT (A) THE ACTION IN SUCH COURT IS BROUGHT IN AN INCONVENIENT FORUM, (B) THE VENUE OF SUCH ACTION IS IMPROPER OR (C) THIS AGREEMENT, OR THE 

  
 22 

 
SUBJECT MATTER HEREOF, MAY NOT BE ENFORCED IN OR BY SUCH COURTS. EACH OF THE PARTIES FURTHER AGREES THAT NO PARTY TO THIS AGREEMENT SHALL BE REQUIRED TO OBTAIN, FURNISH OR POST ANY BOND OR
SIMILAR INSTRUMENT IN CONNECTION WITH OR AS A CONDITION TO OBTAINING ANY REMEDY REFERRED TO IN THIS SECTION 20.8 AND EACH PARTY WAIVES ANY OBJECTION TO THE IMPOSITION OF SUCH RELIEF OR ANY RIGHT IT MAY HAVE TO REQUIRE THE OBTAINING, FURNISHING
OR POSTING OF ANY SUCH BOND OR SIMILAR INSTRUMENT. THE PARTIES HEREBY AGREE THAT MAILING OF PROCESS OR OTHER PAPERS IN CONNECTION WITH ANY SUCH ACTION OR PROCEEDING IN THE MANNER PROVIDED IN SECTION 20.8, OR IN SUCH OTHER MANNER AS MAY BE
PERMITTED BY LAW, SHALL BE VALID AND SUFFICIENT SERVICE THEREOF AND HEREBY WAIVE ANY OBJECTIONS TO SERVICE ACCOMPLISHED IN THE MANNER HEREIN PROVIDED. 

20.9 Governing Law. This Agreement and all issues and questions concerning the construction, validity, enforcement and interpretation
of this Agreement (and all Schedules hereto) shall be governed by, and construed in accordance with, the Laws of the State of Delaware, without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of
Delaware or any other jurisdiction) that would cause the application of the Laws of any jurisdiction other than the State of Delaware. In furtherance of the foregoing, the internal Laws of the State of Delaware shall control the interpretation and
construction of this Agreement (and all Schedules hereto), even though under that jurisdiction’s choice of law or conflict of law analysis, the substantive Law of some other jurisdiction would ordinarily apply. 

20.10 Other Agreements. Nothing herein is intended to modify, limit or otherwise affect the representations, warranties, covenants,
agreements and indemnifications contained in the other Transaction Agreements, and such representations, warranties, covenants, agreements and indemnifications shall remain in full force and effect in accordance with the terms of such agreements, as
applicable. 
 [SIGNATURES ON THE FOLLOWING PAGE] 

  
 23 

 IN WITNESS WHEREOF, the Parties have caused this Transition Services Agreement to be executed and
delivered by their duly authorized representatives as of the date first above written. 
  

			
	INTERNATIONAL PAPER COMPANY
		
	By:	 	  

		 	Name:
		 	Title:
	
	XPEDX HOLDING COMPANY
		
	By:	 	  

		 	Name:
		 	Title:

 Transition Services Agreement - Signature PageEX-10.2

 Execution Version 

Exhibit 10.2 
 EMPLOYEE
MATTERS AGREEMENT 
 BY AND BETWEEN 

INTERNATIONAL PAPER COMPANY, 

XPEDX HOLDING COMPANY, 
 AND 

UWW HOLDINGS, INC. 
 DATED AS OF
JANUARY 28, 2014 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	1	  
	 Section 1.1
	 	 Definitions
	  	 	1	  
	 Section 1.2
	 	 Interpretation
	  	 	5	  
		
	 ARTICLE II ASSIGNMENT OF EMPLOYEES
	  	 	5	  
	 Section 2.1
	 	 Transfer of Employment
	  	 	5	  
	 Section 2.2
	 	 Employee Records
	  	 	6	  
	 Section 2.3
	 	 Non-Solicitation
	  	 	7	  
	 Section 2.4
	 	 Collective Bargaining Agreements
	  	 	7	  
		
	 ARTICLE III BENEFIT ARRANGEMENTS AND OTHER MATTERS
	  	 	8	  
	 Section 3.1
	 	 Termination of Participation in IP Benefit Plans
	  	 	8	  
	 Section 3.2
	 	 Notification of Post-Distribution Terminations
	  	 	8	  
	 Section 3.3
	 	 Accrued Time Off
	  	 	8	  
	 Section 3.4
	 	 Leaves of Absence
	  	 	9	  
	 Section 3.5
	 	 Establishment of Spinco Benefit Plans; Continuation of UWWH Benefit Plans
	  	 	9	  
	 Section 3.6
	 	 Transition to Combined Company Benefit Plans; Service for Eligibility, Vesting, and Benefit Purposes
	  	 	9	  
	 Section 3.7
	 	 No Duplication or Acceleration of Benefits
	  	 	10	  
	 Section 3.8
	 	 Business Associate Agreement
	  	 	10	  
		
	 ARTICLE IV CASH AND EQUITY INCENTIVE COMPENSATION PLANS
	  	 	10	  
	 Section 4.1
	 	 Cash Incentives
	  	 	10	  
	 Section 4.2
	 	 Equity Incentives
	  	 	11	  
		
	 ARTICLE V QUALIFIED RETIREMENT PLANS
	  	 	11	  
	 Section 5.1
	 	 Defined Benefit and Multiemployer Plans
	  	 	11	  
	 Section 5.2
	 	 Defined Contribution Plans
	  	 	14	  
		
	 ARTICLE VI WELFARE PLANS
	  	 	15	  
	 Section 6.1
	 	 Spinco Welfare Plans
	  	 	15	  
	 Section 6.2
	 	 Transitional Matters Under Spinco Welfare Plans
	  	 	15	  
	 Section 6.3
	 	 Waiver of Conditions or Restrictions
	  	 	17	  
	 Section 6.4
	 	 Insurance Contracts
	  	 	17	  
	 Section 6.5
	 	 Third-Party Vendors
	  	 	17	  
	 Section 6.6
	 	 Workers’ Compensation
	  	 	17	  
		
	 ARTICLE VII GENERAL PROVISIONS AND INDEMNIFICATION
	  	 	18	  
	 Section 7.1
	 	 Preservation of Rights to Amend
	  	 	18	  
	 Section 7.2
	 	 Entire Agreement
	  	 	18	  
	 Section 7.3      
	 	 Binding Effect; No Third-Party Beneficiaries or Plan Amendment; Assignment
	  	 	18	  

							
	 Section 7.4
	 	 Amendment; Waivers
	  	 	18	  
	 Section 7.5
	 	 Remedies Cumulative
	  	 	18	  
	 Section 7.6
	 	 Notices
	  	 	18	  
	 Section 7.7
	 	 Counterparts
	  	 	18	  
	 Section 7.8
	 	 Severability
	  	 	18	  
	 Section 7.9
	 	 Governing Law, Consent to Jurisdiction and Waiver of Right to Jury Trial
	  	 	19	  
	 Section 7.10
	 	 Performance
	  	 	19	  
	 Section 7.11
	 	 Termination
	  	 	19	  
	 Section 7.12
	 	 Headings
	  	 	19	  
	 Section 7.13
	 	 Attorney Fees
	  	 	19	  
	 Section 7.14
	 	 Assignment
	  	 	19	  
	 Section 7.15    
	 	 Survival and Indemnification
	  	 	19	  

  
 ii 

 EMPLOYEE MATTERS AGREEMENT 

This EMPLOYEE MATTERS AGREEMENT, made and entered into effective as of January 28, 2014 (this “Agreement”), is by and between
International Paper Company, a New York corporation (“IP”), xpedx Holding Company, a Delaware corporation and wholly owned subsidiary of IP (“Spinco”), and UWW Holdings, Inc., a Delaware corporation (“UWWH”). IP, Spinco
and UWWH are also referred to in this Agreement individually as a “Party” and collectively as the “Parties.” Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to them in the Contribution and
Distribution Agreement among IP, Spinco, and UWWH dated as of the date hereof (the “Contribution and Distribution Agreement”). 

RECITALS 
 WHEREAS, IP has
determined that it would be appropriate, desirable and in the best interests of IP and the shareholders of IP to separate the Spinco Business from IP; 

WHEREAS, the Contribution and Distribution Agreement provides for the execution and delivery of certain other agreements, including this
Agreement, in order to facilitate and provide for the separation of Spinco and its subsidiaries from IP; 
 WHEREAS, IP, Spinco, UWWH, xpedx
Intermediate LLC, a Delaware limited liability company and a direct, wholly-owned Subsidiary of Spinco (“xpedx LLC), and the other Persons party thereto have entered into an Agreement and Plan of Merger, of even date herewith (as such agreement
may be amended from time to time, the “Merger Agreement”), pursuant to which (i) at the Effective Time, UWWH will merge with and into Spinco, with Spinco continuing as the surviving corporation, and (ii) immediately thereafter,
xpedx LLC will merge with and into Unisource Worldwide, Inc., a Delaware corporation (“Unisource Sub”), with Unisource Sub continuing as the surviving corporation and a wholly-owned subsidiary of Spinco; and 

WHEREAS, in order to ensure an orderly transition under the Contribution and Distribution Agreement and Merger Agreement, it will be necessary
for the Parties to allocate between them certain assets and liabilities with respect to certain employee compensation and benefit plans and programs, and to address certain other employment matters related to the transactions contemplated by the
Contribution and Distribution Agreement and the Merger Agreement, and they have chosen to do so in this Agreement. 
 NOW, THEREFORE, in
consideration of the foregoing and the covenants and agreements set forth below and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the Parties hereby
agree as follows: 
 ARTICLE I 

DEFINITIONS 
 Section 1.1
Definitions. As used in this Agreement, the following terms shall have the meanings set forth in this Section 1.1: 

“Agreement” means this Employee Matters Agreement, together with all Schedules hereto and all amendments, modifications, and changes
hereto entered into pursuant to Section 7.4. 

 “Benefit Plan” means any contract, agreement, policy, practice, program, plan, trust,
commitment or arrangement providing for benefits, perquisites or compensation of any nature to any current or former employee, director, or individual contractor, or to any family member, dependent, or beneficiary thereof, including pension plans,
thrift plans, supplemental pension plans and welfare plans, employment agreements, fringe benefits, severance benefits, change in control protections or benefits, travel and accident, life, disability and accident insurance, tuition reimbursement,
travel reimbursement, vacation, sick, personal or bereavement days, leaves of absences and holidays; provided, however, the term “Benefit Plan” does not include (i) any workers compensation or similar insurance programs or policies or
governmental plans or programs or (ii) any multiemployer pension plan, multiemployer health and welfare plan or other plan maintained by a joint board of union and employer appointed trustees and to which employers are required to contribute
for the benefit of union employees as part of a collective bargaining agreement. 
 “COBRA” means the Consolidated Omnibus Budget
Reconciliation Act of 1985, as codified at Section 601 et seq. of ERISA and at Section 4980B of the Code, and any similar state or local Law. 

“Combined Company Benefit Plan” means any Benefit Plan sponsored or maintained by Spinco or any of its Subsidiaries and which the
Board of Directors of Spinco or its designee following the Distribution affirmatively establishes or designates as a Benefit Plan in which Spinco Group Employees and/or UWWH Employees shall participate (which, for avoidance of doubt, may be a Spinco
Benefit Plan, a UWWH Benefit Plan or a newly established Benefit Plan). 
 “Combined Company Welfare Plan” means any Combined
Company Benefit Plan that is a Welfare Plan. 
 “Disabled Employee” has the meaning set forth in Section 2.1(b). 

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

“FICA” has the meaning set forth in Section 2.1(c). 

“Former Employee” means an employee of the IP Group at any time prior to the Distribution whose employment with the IP Group
terminates before the Distribution (and who is not actively employed by the IP Group as of the Distribution), regardless of whether or not he or she provided services to the Spinco Business while employed. 

“FUTA” has the meaning set forth in Section 2.1(c). 

“HIPAA” means the Health Insurance Portability and Accountability Act of 1996, as amended, and the regulations promulgated
thereunder. 

  
 2 

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

“IP 401(k) Plans” means the tax-qualified defined contribution plans maintained by the IP Group as of the Distribution, including
without limitation the International Paper Company Hourly Savings Plan and the International Paper Company Salaried Savings Plan. 

“IP Benefit Plan” means any Benefit Plan sponsored or maintained by an IP Entity on or immediately prior to the Distribution. 

“IP Entity” means any member of the IP Group. 

“IP Incentive Stock” has the meaning set forth in Section 4.2. 

“IP Nonqualified Plans” means the deferred compensation plans (other than the IP 401(k) Plans) maintained by the IP Group as of the
Distribution, including without limitation the International Paper Company Deferred Compensation Savings Plan and the International Paper Company Pension Restoration Plan for Salaried Employees. 

“IP Pension Plans” means the tax qualified defined benefit plans maintained by the IP Group as of the Distribution, including
without limitation the Retirement Plan of International Paper Company (which, for avoidance of doubt, shall not include the Spinco CBA MEPPs). 

“IP Retained Employees” has the meaning set forth in Section 2.1(a). 

“IP Stock Plans” has the meaning set forth in Section 4.2. 

“IP Welfare Plan” means any Welfare Plan sponsored or maintained by any one or more members of the IP Group on or immediately prior
to the Distribution. 
 “IRS” means the Internal Revenue Service. 

“LTD” means long-term disability benefits. 

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

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

“Spinco 401(k) Plan” has the meaning set forth in Section 5.2(a). 

“Spinco 401(k) Plan Beneficiaries” has the meaning set forth in Section 5.2(b). 

“Spinco Benefit Plan” means any Benefit Plan sponsored or maintained by a Spinco Entity following the Distribution. 

“Spinco CBA MEPPs” has the meaning set forth in Section 5.1(c). 

“Spinco CBA Non-Pension MEPs” has the meaning set forth in Section 5.1(c). 

“Spinco CBAs” has the meaning set forth in Section 2.4. 

  
 3 

 “Spinco Entity” means any member of the Spinco Group. 

“Spinco Group Employee” means (i) any individual who is an active employee of an IP Entity primarily working in the Spinco
Business immediately prior to the Distribution, and (ii) any individual who otherwise would be included in (i) above but for the fact that he or she is absent from active employment on such date on account of vacation, ordinary sick leave
reasonably expected to result in an absence of short duration, short-term disability, leave under the federal Family and Medical Leave Act or leave under any similar Law, or any other reason that is similar in nature and duration; provided,
however, that no individual shall be a “Spinco Group Employee” if his or her employment is not transferred from the IP Group to a Spinco Entity; and provided further that (x) any individual set forth on Annex A
and any other individual who the Parties agree in writing is not a Spinco Group Employee, shall not be a “Spinco Group Employee”, and (y) with the prior written consent of UWWH, one or more individuals who are active employees of an
IP Entity but not primarily working in the Spinco Business immediately prior to the Distribution may also be treated as Spinco Group Employees. 

“Spinco Group Employee IP Stock Award” has the meaning set forth in Section 4.2. 

“Spinco HRIS System” means the human resources information system (expected to be the Workday system) used by Spinco as of the
Distribution. 
 “Spinco Pension Participants” has the meaning set forth in Section 5.1(a). 

“Spinco Union Pension Plan” has the meaning set forth in Section 5.1(b). 

“Spinco Union Pension Plan Participants” has the meaning set forth in Section 5.1(b). 

“Spinco Welfare Plan Participants” has the meaning set forth in Section 6.1. 

“Spinco Welfare Plan” means any Welfare Plan sponsored or maintained by any one or more members of the Spinco Group as of the
Distribution. 
 “STD” means short-term disability benefits. 

“Unrelated MEP Liability” has the meaning set forth in Section 5.1(c). 

“Unrelated Business” has the meaning set forth in Section 5.1(c). 

“UWWH Benefit Plan” means any Benefit Plan sponsored or maintained by UWWH or its Subsidiaries on or immediately prior to the
Distribution. 
 “UWWH Employee” means any employee of UWWH or its Subsidiaries. 

“Welfare Plan” means, where applicable, a Benefit Plan that is a “welfare plan” (as defined in Section 3(1) of ERISA)
or a “cafeteria plan” under Section 125 of the Code, and any benefits offered thereunder, and any other plan offering health benefits (including medical, prescription drug, dental, vision, and mental health and substance abuse),
disability benefits, or life, accidental death and disability, and business travel insurance, pre-tax premium conversion 

  
 4 

 
benefits, dependent care assistance programs, employee assistance programs or flexible spending accounts; provided, however, the term “Welfare Plan” does not include (x) any
workers compensation or similar insurance plans, programs or policies or governmental plans or programs or (y) any plan or arrangement providing for severance pay or termination benefits. 

Section 1.2 Interpretation. The provisions of Section 10.3 of the Contribution and Distribution Agreement are hereby
incorporated by reference. 
 ARTICLE II 

ASSIGNMENT OF EMPLOYEES 

Section 2.1 Transfer of Employment. 

(a) Spinco Group Employees and Employee-Related Liabilities. Except as otherwise set forth in this Agreement, prior to the Distribution
each IP Entity shall have taken such actions as are necessary to ensure that each Spinco Group Employee, whether or not actively working on the Distribution, is employed by a Spinco Entity effective not later than the Distribution, and, in
furtherance thereof, the parties shall cooperate reasonably and in good faith to give effect to this covenant with respect to those Spinco Group Employee who are currently employed outside of the United States by an IP Entity in jurisdictions in
which there is no Spinco Entity. If, despite its reasonable best efforts, IP identifies, after the Distribution, an employee who was inadvertently not employed by a Spinco Entity as of the Distribution, IP shall promptly notify Spinco of such fact,
and the employment of such individual shall be transferred from an IP Entity to a Spinco Entity as soon as reasonably practicable thereafter. Any individual so transferred shall, from the effective date of such transfer, be deemed a Spinco Group
Employee under this Agreement. Each of the Parties agrees to execute, and, if necessary to comply with applicable Law, to seek to have the applicable employees execute, such documentation, if any, as may be necessary to reflect the assignment and
transfer of employment to a Spinco Entity as described herein; provided, that the failure of a Spinco Group Employee to execute any such documentation shall not prevent such Spinco Group Employee from being transferred to a Spinco Entity unless
otherwise required under applicable Law. Any employee who is intended to remain an employee of the IP Group on or following the Distribution (including, but not limited to, identified on Annex A) are collectively referred to herein as the “IP
Retained Employees.” The IP Group shall assume or retain all employment-related Liabilities related to the IP Retained Employees regardless of whether such Liability arises prior to, on, or after the Distribution. Other than those Liabilities
expressly assumed or retained by IP under this Agreement or the Contribution and Distribution Agreement, the Spinco Group shall assume or retain all employment-related Liabilities related to the Spinco Group Employees regardless of whether such
Liability arises prior to, on or after the Distribution (including without limitation with respect to the Spinco Group’s Mexican operations). In addition, and for the avoidance of doubt, the IP Group shall assume or retain any Liabilities for
severance, separation, retention or similar types of compensation or benefits arising out of the transfer of employment from the IP Group to a Spinco Entity as described in this Section 2.1(a) (it being the intention of the IP Group that no
such liability shall arise out of any such transfer). Liabilities in respect of Former Employees, to the extent not expressly assumed or retained by one of the Parties under this Agreement, shall be allocated as provided in the Contribution and
Distribution Agreement. 

  
 5 

 (b) Disabled Spinco Group Employees. Each Spinco Group Employee who, on or prior to the
Distribution, became disabled as defined in the IP Welfare Plans that provide short and long-term disability benefits and who retains such status as of the Distribution (a “Disabled Employee”) shall, notwithstanding Section 2.1(a),
remain an employee of an IP Entity to the extent necessary for IP or the applicable IP Welfare Plans to provide the STD or LTD as described in Section 6.2(a), and shall become an employee of a Spinco Entity as of the date such Disabled Employee
is able to return to active employment; provided that such return-to-work date occurs within one year following the Distribution Date, or at such later date if, but only to the extent and under the conditions, required by applicable Law or a Spinco
CBA. 
 (c) Payroll and Related Taxes. With respect to the portion of the tax year ending on and including the Distribution Date, IP
will (i) be responsible for all payroll obligations, tax withholding and reporting obligations and (ii) furnish a Form W-2 or similar earnings statement to all Spinco Group Employees. With respect to the remaining portion of such tax year,
Spinco will (i) be responsible for all payroll obligations, tax withholding, and reporting obligations for the Spinco Group Employees and (ii) furnish a Form W-2 or similar earnings statement to all Spinco Group Employees. With respect to
each affected Spinco Group Employee, IP and Spinco shall, and shall cause their respective Affiliates to (to the extent permitted by applicable Law and practicable) (i) treat Spinco (or the applicable Spinco Entity) as a “successor
employer” and IP (or the applicable IP Entity) as a “predecessor,” within the meaning of Sections 3121(a)(1) and 3306(b)(1) of the Code, to the extent appropriate, for purposes of taxes imposed under the United States Federal
Insurance Contributions Act, as amended (“FICA”), or the United States Federal Unemployment Tax Act, as amended (“FUTA”) and related state unemployment insurance laws, (ii) cooperate with each other to avoid, to the extent
possible, the restart of FICA and FUTA and related state unemployment insurance laws upon or following the Distribution Date with respect to each such Spinco Group Employee for the tax year during which the Distribution Date occurs, and
(iii) file tax returns, exchange wage payment information, and report wage payments made by the respective predecessor and successor employer on separate IRS Forms W-2 or similar earnings statements to each such Spinco Group Employee for the
tax year in which the Distribution Date occurs, in a manner provided in Section 4.02(1) of Revenue Procedure 2004-53. Notwithstanding the foregoing provisions of this Section 2.1(c), the matters described herein are subject to
Section 4.2 in respect of the IP Stock Plans. 
 (d) At-Will Status. Notwithstanding the above or any other provision of this
Agreement (and except as provided under an applicable written employment agreement, collective bargaining agreement or as required by Law), nothing in this Agreement shall create any obligation on the part of any IP Entity or any Spinco Entity to
(i) continue the employment of any employee or (except as required by this Agreement or applicable Law) permit the return from a leave of absence for any period following the date of this Agreement or the Distribution or (ii) change the
employment status of any employee from “at will,” to the extent such employee is an “at will” employee under applicable Law. 

Section 2.2 Employee Records. Not later than the Distribution, IP shall provide or cause to be provided to Spinco any and all
employment records and information (including, but not limited to, any personnel files, Form I-9, Form W-2 or other IRS forms) with respect to the Spinco Group Employees in the possession of IP and its Subsidiaries reasonably required by

  
 6 

 
Spinco to enable Spinco to properly employ the Spinco Group Employees and to carry out its obligations under this Agreement, applicable Law and any Spinco CBA; provided, that if IP shall fail to
so provide or cause to be provided any such records and information notwithstanding its intention to do so, IP shall bear no Liability for such failure absent material harm to Spinco resulting therefrom. Following the date on which such records and
information are provided, Spinco shall permit IP reasonable access to such records and information, to the extent reasonably necessary for IP’s reasonable business needs or as required for IP to comply with applicable Law. Each Party will
indemnify and hold harmless the other from all Liabilities arising from the indemnifying Party’s willful or grossly negligent misuse of the records and information made available to the indemnifying Party by the indemnified Party under the
terms of this Agreement. 
 Section 2.3 Non-Solicitation. 

(a) From the date of this Agreement to the Effective Time (i) no IP Entity shall solicit for employment any employee working in the
Spinco Business or otherwise transfer any such employee out of the Spinco Business to another business conducted by any member of the IP Group without the prior written consent of UWWH, and (ii) UWWH shall not solicit for employment any IP
Retained Employee or, other than on behalf of Spinco, any employee described in clause (i), without the prior written consent of IP. For purposes of this Section 2.3, written consent shall include email by the applicable Party granting a
consent. The restrictions set forth in the first sentence of this Section 2.3 shall not apply to (x) general solicitations (such as advertisements or headhunter searches) for employment placed by any IP Entity, any Spinco Entity or UWWH
and are not specifically targeted at such employee or (y) any such employee who responds to search firm inquiries (so long as not directed to solicit such person) conducted on behalf of any IP Entity, any Spinco Entity or UWWH. 

(b) For the avoidance of doubt, no provision of this Section 2.3 shall be construed to enlarge or diminish the rights or obligations of
any Person under any of the other Transaction Agreements from and after the Effective Time. 
 Section 2.4 Collective Bargaining
Agreements. Spinco shall, as of the Distribution, (a) other than as set forth in this Agreement, assume or otherwise be or remain bound by, and shall retain or assume all Liabilities under, the Spinco CBAs to the extent related to the
Spinco Business regardless of whether such Liability arises or relates to events occurring prior to, on or after the Distribution, (b) treat the Spinco Group Employees subject to the Spinco CBAs in accordance with the terms of the Spinco CBAs
and applicable Law, and (c) honor all contractual agreements and other legal requirements under the Spinco CBAs regarding seniority, including provisions for layoff and recall. For purpose of this Agreement, “Spinco CBAs” means the
collective bargaining agreements (including expired collective bargaining agreements that reflect existing binding bargaining unit terms and conditions of employment) in effect as of the date of this Agreement or hereafter entered into in compliance
with the Transaction Agreements that governs the terms and conditions of employment of the Spinco Group Employees, including those collective bargaining agreements set forth on Section 5.15(a)(i) of the IP/Spinco Disclosure Schedules to the
Merger Agreement. Notwithstanding any other provision of any Transaction Agreement, the IP Group shall retain all Liabilities for any alleged failure to satisfy any “decision” and “effects” bargaining obligations under the Spinco
CBAs arising from the 

  
 7 

 
transactions contemplated by the Transaction Agreements. Notwithstanding any provision of this Agreement to the contrary, the substantive provisions of this Agreement, other than the pension
offset set forth in Section 5.1(a) and the allocation of liability with respect to the Spinco CBA MEPPs and Spinco CBA Non-Pension MEPs set forth in Section 5.1(b), shall be subject to the requirements of the terms of any Spinco CBA and
Law applicable to collective bargaining matters. 
 ARTICLE III 

BENEFIT ARRANGEMENTS AND OTHER MATTERS 

Section 3.1 Termination of Participation in IP Benefit Plans. Except as otherwise specifically provided under this Agreement,
effective as of the Distribution, Spinco Group Employees shall cease active participation in (including eligibility to contribute to) any IP Benefit Plan (unless otherwise provided under the terms of the applicable IP Benefit Plan), and IP shall
retain all Liabilities under or with respect to the IP Benefit Plans regardless of whether such Liability arises, accrues, is incurred or is reported prior to, on, or after the Distribution. The Liabilities so retained by IP under this
Section 3.1 include obligations and Liabilities under the IP Pension Plans, the IP Nonqualified Plans, and, except to the extent set forth in Section 5.2 and Article VI, the IP 401(k) Plans and the IP Welfare Plans (including any and all
retiree welfare benefits under the IP Welfare Plans). To the extent that IP retains Liabilities under this Agreement, any Assets in respect of such Liabilities shall also be retained by IP. 

Section 3.2 Notification of Post-Distribution Terminations. The Parties hereto acknowledge that the termination of certain Spinco
Group Employee’s employment after the Distribution will be relevant for a determination by IP of certain benefits or rights to benefits to which such Spinco Group Employee may be entitled under one or more IP Benefit Plans. Therefore, provided
that IP provides Spinco with a list of Spinco Group Employees for whom such notification to IP would be necessary for purposes of such IP Benefit Plans, Spinco shall, following the Distribution, use its reasonable best efforts to notify IP promptly
following, but in no event more than thirty (30) days following, the employment termination date applicable to any Spinco Group Employee following the Distribution. Prior to the Distribution, IP shall notify the Spinco Group Employees that the
Spinco Group Employees should inform IP of their employment termination date following the Distribution. In addition, in the event that the IRS or a Nonqualified Plan Participant claims that the completion of the Transactions resulted in a
separation from service under the IP Nonqualified Plans, IP and Spinco agree that a separation from service of the Nonqualified Plan Participants shall not have occurred in connection with the Transactions pursuant to the rule set forth in Treas.
Reg. sec. 1.409A-1(h)(4). 
 Section 3.3 Accrued Time Off. Following the Distribution, Spinco shall recognize the Spinco Group
Employees’ unused vacation, holiday, sick leave, flex days, personal days, paid-time off and other leave benefits that have been earned or awarded and are unused as of the Distribution Date in such amounts as are reflected in the Spinco HRIS
System as of the Distribution Date. Following the Distribution, Spinco shall permit such earned or awarded leave benefits to be utilized consistent with the business needs of the Spinco Group and any applicable Spinco policy. 

  
 8 

 Section 3.4 Leaves of Absence. Following the Distribution, Spinco will continue to
apply the leave policies applicable to inactive Spinco Group Employees who are on an approved leave of absence as of the Distribution Date in accordance with the terms of such policies applicable to the Spinco Group Employees as of the Distribution
Date. For purposes of such policies, leaves of absence taken by Spinco Group Employees prior to the Distribution shall be deemed to have been taken as employees of a Spinco Entity. 

Section 3.5 Establishment of Spinco Benefit Plans; Continuation of UWWH Benefit Plans. 

(a) For Spinco Group Employees. Prior to the Distribution, Spinco shall, in consultation with UWWH, establish Spinco Benefit Plans for
the Spinco Group Employees, to be effective no later than the Distribution. Except as required by any applicable Spinco CBA or as a result of any “effects” bargaining with an applicable union, each Spinco Benefit Plan shall not be more
favorable than the IP Benefit Plans that such Spinco Benefit Plan replaces. 
 (b) For UWWH Employees. Subject to
Section 3.5(c), the UWWH Benefit Plans shall remain in effect and continue to cover eligible UWWH Employees (and eligible former UWWH Employees) in accordance with the terms of such plans (as may be modified from time to time in accordance with
such terms), applicable Law, any applicable collective bargaining agreements or other contractual obligations. 
 (c) After the Effective
Time. As of the Effective Time and during subsequent periods, the Board of Directors of Spinco or its designee shall have full discretion to determine the scope, terms and conditions of the Spinco Benefit Plans, the UWWH Benefit Plans and the
Combined Company Benefit Plans, subject only to applicable Law and the terms of any collective bargaining agreement or other contractual obligations. 

(d) Except as required by the terms of any Spinco CBA, Spinco shall not, prior to the Distribution, establish any defined benefit pension
plan, non-qualified retirement plan or non-qualified deferred compensation plan, or retiree medical or life insurance program, and shall not grant any form of equity-based compensation to any Spinco Group Employee. Such matters shall be determined
by the Spinco Board following the Distribution. In addition, except as set forth in Sections 5.2(c) and Article VI of this Agreement, no transfer of Assets or Liabilities from any IP Entity or any IP Benefit Plan to Spinco or any Spinco Benefit Plan
shall occur prior to, on or after the Distribution. 
 Section 3.6 Transition to Combined Company Benefit Plans; Service for
Eligibility, Vesting, and Benefit Purposes. Whenever following the date of this Agreement a Spinco Group Employee or UWWH Employee commences to participate in a Combined Company Benefit Plan in which such Spinco Group Employee or UWWH Employee
did not previously participate, Spinco shall use its reasonable best efforts to cause there to be no interruption of coverage with respect to the type of benefit being provided under such Combined Company Benefit Plan. In addition, except as
otherwise provided in any other provision of this Agreement or as required under a Spinco CBA, and except as shall derive from application of a uniform rule applied to all similarly situated employees, from and after the Distribution, the Combined
Company Benefit Plans shall, and Spinco shall cause each Spinco Entity to, recognize each Spinco Group 

  
 9 

 
Employee’s and UWWH Employee’s service prior to the Distribution Date (including (x) for the Spinco Group Employees, service with any IP Entity prior to the Distribution Date, and
(y) for the UWWH Employees, service with UWWH or any Subsidiary prior to the Distribution Date) for purposes of eligibility and vesting under any Combined Company Benefit Plan and for determination of level of benefits under any Combined
Company Benefit Plan that is a vacation, paid leave, paid-time off or similar plan or severance plan, to the same extent such service was recognized as of the Distribution Date. With respect to the Spinco Group Employees, such service shall be
included in the Spinco HRIS System not later than the Distribution Date. Notwithstanding the foregoing, nothing herein shall require a Spinco Entity or any Combined Company Benefit Plan to credit service prior to the Distribution Date for purposes
of any equity award or other equity-based benefit or equity-based compensation that may be established by a Spinco Entity at any time prior to, on or after the Distribution Date. 

Section 3.7 No Duplication or Acceleration of Benefits Notwithstanding anything to the contrary in this Agreement, the
Contribution and Distribution Agreement or any other Transaction Agreement, no participant in the IP Benefit Plans or Combined Company Benefit Plans shall receive benefits to the extent that receipt of such benefits would result in duplication of
benefits provided by another IP Benefit Plan or Combined Company Benefit Plan. Furthermore, unless expressly provided for in this Agreement, the Contribution and Distribution Agreement or in any other Transaction Agreement or required by applicable
Law, no provision in this Agreement shall be construed to create any right to accelerated vesting or entitlements under any Benefit Plan on the part of any Former Employee, Spinco Group Employee or UWWH Employee. 

Section 3.8 Business Associate Agreement. The Parties acknowledge that the IP Group or the Spinco Group may provide administrative
services for certain of the other Party’s benefit programs for a transitional period under the terms of the Transition Services Agreement. The Parties agree to enter into a business associate agreement (if required by HIPAA or other applicable
health information privacy Laws) in a customary form to be mutually agreed in connection with the provision of such services. 
 ARTICLE IV

 CASH AND EQUITY INCENTIVE COMPENSATION PLANS 

Section 4.1 Cash Incentives. Effective on or as soon as practicable following the Distribution, the Board of Directors of Spinco
or its designee shall establish programs providing management incentive or goal sharing cash incentive awards to the Spinco Group Employees who would cease to participate in an IP management incentive or goal sharing cash incentive program by reason
of the Transactions (in each case other than commission plans). Such cash incentive programs shall provide for performance goals and resulting bonuses for the full 2014 calendar year, except that the cash incentive program that replaces the IP
Management Incentive Plan shall cover solely the portion of the 2014 calendar year following the Distribution. Spinco shall be solely responsible for funding, paying, and discharging all obligations and Liabilities relating to any such cash
incentive programs, and IP shall have no obligations or Liabilities with respect thereto. From and after the Distribution, the Spinco Group shall be solely responsible for funding, paying, and discharging all obligations and Liabilities relating to
the cash incentive awards that any Spinco Group Employee is eligible to receive under any commission plan in 

  
 10 

 
which the Spinco Group Employees participate, whether such obligation or Liability arises, accrues, is incurred or is reported prior to, on, or after the Distribution, and no IP Entity shall have
any obligations with respect thereto. 
 Section 4.2 Equity Incentives. IP (or one of its Subsidiaries) shall be solely
responsible for all Liabilities with respect to any plan or arrangement established by IP or its Affiliates (excluding any such plan or arrangement established by a Spinco Entity following the Distribution) that provides for equity incentive awards
in respect of IP Common Stock (each such award held by a Spinco Group Employee is referred to herein as a “Spinco Group Employee IP Stock Award”), including any award to receive shares of IP Common Stock or benefits measured by the value
of a number of shares of IP Common Stock, including any stock appreciation rights, stock options, restricted stock, restricted stock units, deferred stock units, performance share units and dividend equivalents (collectively, the “IP Stock
Plans”), which shall include but not be limited to (a) all income, payroll, or other tax reporting related to income of employees from any awards granted pursuant to any IP Stock Plan and (b) remitting applicable tax withholdings for
such income to each applicable taxing authority. IP shall, within thirty (30) days of written demand thereof (which shall be accompanied by reasonable supporting documentation), reimburse Spinco for all reasonable out-of-pocket expenses arising
as a result of incremental tax reporting obligations and any incremental tax obligations actually incurred by Spinco or any of its Subsidiaries in connection with IP Incentive Stock (as defined in the Tax Matters Agreement). Other than an award of
restricted stock to Mary Laschinger, IP acknowledges and agrees that the Spinco Group Employee IP Stock Awards are limited to performance share awards and currently vested stock options. 

Section 4.3. Equity Acceleration. Notwithstanding the generality of Section 4.2, IP shall provide that, effective
as of immediately following the Distribution, the vesting terms of any outstanding Spinco Group Employee IP Stock Award shall be determined based on the terms and guidelines of general applicability under the IP Stock Plan determined as though such
Spinco Group Employee incurred a termination without cause. IP confirms and agrees that such terms and guidelines of general applicability applicable to each performance share award held by a Spinco Group Employees will, effective as of the
Distribution, (i) treat any requirement of continued employment with a member of the IP Group as satisfied on a pro-rata basis, based upon a fraction, the numerator of which is the portion of such required employment period occurring prior to
the date of Distribution and the denominator of which is the total number of days in such required employment period, (ii) treat such award as continuing to be subject to the applicable performance conditions and (iii) vest such award
based upon the satisfaction of such performance conditions, but pro-rated as provided in clause (i).
 ARTICLE V 

QUALIFIED RETIREMENT PLANS 

Section 5.1 Defined Benefit and Multiemployer Plans. 

(a) As of the Distribution, the IP Group agrees to take all necessary action to fully vest each Spinco Group Employee who is a participant in
any of the IP Pension Plans (the “Spinco Pension Participants”), and such Spinco Pension Participant shall thereafter be treated as a terminated vested participant under the IP Pension Plans eligible to receive pension benefits at such
times and in such forms as described in the applicable IP Pension Plan. 

  
 11 

 (b) To the extent required under a Spinco CBA, Spinco shall, or shall cause another Spinco Entity
to (in consultation with UWWH), establish a single-employer defined benefit pension plan and trust effective immediately after the Distribution Date (the “Spinco Union Pension Plan”) for the benefit of Spinco Group Employees pursuant to
the relevant Spinco CBA (“Spinco Union Pension Plan Participants”). Spinco shall be responsible for taking all necessary, reasonable, and appropriate action to establish, maintain, and administer the Spinco Union Pension Plan so that it is
qualified under Section 401(a) of the Code and that the related trust thereunder is exempt under Section 501(a) of the Code. The Spinco Union Pension Plan shall provide a benefit to each eligible Spinco Union Pension Plan Participant as
required by the applicable Spinco CBA (recognizing all service credited under the applicable IP Pension Plan), offset by the applicable retirement benefit provided by the applicable IP Pension Plan to such Participant (based on service credited
under the applicable IP Pension Plan through immediately before the Distribution). For the avoidance of doubt, (i) the Spinco Union Pension Plan will assume and provide any subsidies with respect to a Spinco Union Pension Plan Participant based
on all of his applicable service credited under the Spinco Union Pension Plan and applicable IP Pension Plan applied to the applicable benefit multiplier under the Spinco Union Pension Plan in effect on the date of his or her retirement or
termination under the Spinco Union Pension Plan and (ii) the applicable retirement benefit provided by the applicable IP Pension Plan to such Participant for offset shall contain whatever subsidies (if any) as are in effect or applicable to
such Participant on the date of his termination or employment under the IP Pension Plan based on his service under the applicable IP Pension Plan immediately before the Distribution. Following the Distribution, IP and Spinco shall cooperate and IP
shall, or shall cause the plan administrator of the applicable IP Pension Plan to, provide Spinco with the information necessary to comply with this Section 5.1(b). For the avoidance of doubt, in no event (i) shall IP have any obligation
or Liability under any Spinco Union Pension Plan, nor shall the terms of any such Spinco Union Pension Plan increase any benefit under any IP Pension Plan to any Person; or (ii) shall Spinco have any obligation or Liability under any IP Pension
Plan, nor shall the terms of any IP Pension Plan increase any benefit under any Spinco Union Pension Plan. 
 (c) (i) As of the date hereof,
certain of the Spinco CBAs require, with respect to Spinco Business, participation in and contribution to multiemployer pension plans (the “Spinco CBA MEPPs”), including those multiemployer pension plans set forth set forth on
Section 5.14(a) of the IP/Spinco Disclosure Schedules to the Merger Agreement under the heading “Spinco Multiemployer Plans—Pension”, and other multiemployer plans that are not pension plans (the “Spinco CBA Non-Pension
MEPs”), including those non-pension multiemployer plans set forth on Section 5.14(a) of the IP/Spinco Disclosure Schedules to the Merger Agreement under the heading “Spinco Multiemployer Plans—Welfare”. Effective as of the
Distribution, Spinco shall, as provided under the terms of the Spinco CBAs and applicable Law, continue participation in, and, except to the extent of any Unrelated MEP Liability (as defined below), shall assume or retain all obligations and
Liabilities on account of the Spinco Business with respect to the Spinco CBA MEPPs and the Spinco CBA Non-Pension MEPs regardless of whether such obligations or Liabilities arise or relate to events occurring prior to, on, or after the Distribution.
The Parties intend that the Transactions contemplated by the Transaction Agreements constitute a “change in corporate structure” within the meaning of 

  
 12 

 
Section 4218(1)(A) of ERISA with respect to the Spinco Business such that no withdrawal from a Spinco CBA MEPP shall occur as a result of the Transactions, and each Party will cooperate and
take reasonable and appropriate steps to ensure that the applicable Spinco CBA MEPPs have sufficient information to make such determination and the authorized representatives of Spinco and IP shall address with each Spinco CBA MEPP the terms of any
previous or current participation or withdrawal liability (if any) under such Spinco CBA MEPP with such MEPP consistent with the following liability provisions. Spinco’s retention and assumption of obligations and Liabilities in respect of
(A) employment liabilities described in Section 2.1, (B) the Spinco CBAs described in Section 2.4, and (C) the Spinco CBA MEPPs and Spinco CBA Non-Pension MEPs pursuant to this Section 5.1(c) shall not and are not
intended to include, and the IP Group shall retain or assume, any withdrawal liability or any contributions (or contribution obligations) to, or other obligations or Liabilities under, the Spinco CBA MEPPs or Spinco CBA Non-Pension MEPs, in each
case on account of any IP Business, any IP Entity or any of its ERISA Affiliates, in each case other than the Spinco Business and the Spinco Group, regardless of whether such obligations or Liabilities arise or relate to events occurring prior to,
on, or after the Distribution (the “Unrelated MEP Liability”). For the avoidance of doubt and notwithstanding any other provision of this Agreement other than this Section 5.1(c), if withdrawal liability is asserted by a Spinco CBA
MEPP or a Spinco CBA Non-Pension MEP against any IP Entity or Spinco or any of its Subsidiaries, including in connection with the transactions contemplated by the Transaction Agreements, (x) Spinco and its Subsidiaries shall be liable only for
that portion of such Liability that is attributable to the contribution history of the Spinco Business, and (y) the IP Group shall be liable only for that portion of such Liability that is attributable to the contribution history of the
businesses of the IP Group other than the Spinco Business (collectively, the “Unrelated Business”), and the portion of the liability described in (y) shall be an Unrelated MEP Liability. For purposes of the preceding sentence,
(I) the contribution history of the Spinco Business shall include contributions made on behalf of covered Spinco Group Employees and covered Former Employees to the extent they worked in the Spinco Business and the contribution history of the
Unrelated Business shall include contributions made on behalf of covered current (as of the Distribution) and Former Employees working (or to the extent they worked) in the Unrelated Business, (II) the contribution histories of the Spinco Business
and Unrelated Business shall initially be derived from the Spinco Business associated accounts and the Unrelated Business associated accounts, respectively (determined, in each case to the extent applicable, by reference to the contributions of the
relevant facilities), and (III) the provisions of Section 5.1(c)(ii) shall apply with respect to employees hired and contributions made (or required to be made) after the Distribution. However, in the event that either Party disputes the
allocation to it of any portion of the Liability as set forth in the immediately preceding two sentences (including, without limitation, because all of the Liability has been attributed to either the Spinco Business or Unrelated Business), such
disputing Party shall engage an actuarial firm of national reputation with substantial experience in performing or reviewing withdrawal liability calculations reasonably satisfactory to the other Party, which actuarial firm shall (A) conduct an
independent review of the contributions made on behalf of and related accounts of the Spinco Business and Unrelated Business and such other information as the disputing Party or any of the other Parties shall submit and (B) make an independent
determination as to the allocation of such Liability between an IP Entity and Spinco or any of its Subsidiaries pursuant to this Section 5.1(c). The fees and expenses of such actuarial firm shall be paid by the disputing Party, and the
determination of such actuarial firm shall be final, binding and conclusive on the IP Group and on Spinco and its Subsidiaries. 

  
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 (ii) In determining the contribution histories of the Spinco Business and
the Unrelated Business with respect to employees hired and contributions made (or required to be made) after the Distribution, (A) for purposes of allocating under the fifth and sixth sentences of Section 5.1(c)(i) any withdrawal Liability
asserted by a Spinco CBA MEPP or a Spinco CBA Non-Pension MEP against the IP Group, the contribution history of the IP Group shall include contributions made on behalf of employees hired and contributions made (or required to be made) by the IP
Group after the Distribution, and (B) for purposes of allocating under the fifth and sixth sentences of Section 5.1(c)(i) any withdrawal Liability asserted by a Spinco CBA MEPP or a Spinco CBA Non-Pension MEP against Spinco or any of its
Subsidiaries, the contribution history of Spinco and its Subsidiaries shall include contributions made on behalf of employees hired and contributions made (or required to be made) by Spinco and its Subsidiaries after the Distribution. 

Section 5.2 Defined Contribution Plans. 

(a) Vesting under IP 401(k) Plan. As of the Distribution, the IP Group agrees to take all necessary action to fully vest each Spinco
Group Employee who is a participant in any IP 401(k) Plan. 
 (b) Establishment of the Spinco 401(k) Plan. No later than the
Distribution Date, Spinco shall, or shall cause another Spinco Entity to (in consultation with UWWH), establish a defined contribution plan and trust for the benefit of Spinco Group Employees (the “Spinco 401(k) Plan”) that (except as
required by any applicable Spinco CBA or as a result of any “effects” bargaining with an applicable union completed in compliance with the Transaction Agreements) is no more favorable than the applicable IP 401(k) Plan. Spinco shall be
responsible for taking all necessary, reasonable, and appropriate action to establish, maintain, and administer the Spinco 401(k) Plan so that it is qualified under Section 401(a) of the Code and that the related trust thereunder is exempt
under Section 501(a) of the Code. Spinco (acting directly or through its Subsidiaries) shall be responsible for any and all Liabilities and other obligations with respect to the Spinco 401(k) Plan. 

(c) Transfer of Spinco Group Employee Accounts to Spinco 401 (k) Plan. As soon as reasonably practicable following the
Distribution Date, IP shall cause the trustee(s) of the IP 401(k) Plans to transfer, and Spinco shall cause the trustee of the Spinco 401(k) plan to accept, the account balances of Spinco Group Emloyees from the applicable IP 401(k) Plan to the
Spinco 401(k) Plan in accordance with the applicable requirements of Section 414(l) of the Code. Such transfer shall be made in cash, except that any promissory notes evidencing participant loans shall be transferred in kind. For the avoidance
of doubt, the Spinco 401(k) Plan shall not be required to establish or maintain an IP employer stock fund or a Spinco employer stock fund under the Spinco 401(k) Plan, and any portion of a Spinco Group Employee’s account under the IP 401(k)
Plans that consists of shares of IP stock, units in an IP stock fund, or is otherwise invested in employer securities shall be converted to cash (at such time and in such manner as the appropriate fiduciary of the IP 401(k) Plan determines) before
it is transferred to 

  
 14 

 
the Spinco 401(k) Plan on behalf of such employee. In no event shall the Spinco 401(k) Plan, any fiduciary or administrator thereunder, Spinco or any of its Affiliates have any Liability with
respect to investments of Spinco Group Employees’ accounts in IP stock (or any other employer securities) or any failure by IP, any IP Entity, any of their Affiliates, or any fiduciary, administrator, recordkeeper or agent of any of them to
comply with ERISA, the Code, the terms of the IP 401(k) Plans or any related contracts with respect to the IP 401(k) Plans or the accounts (including the accounts of Spinco Group Employees) thereunder. 

ARTICLE VI 
 WELFARE PLANS 

Section 6.1 Spinco Welfare Plans. In accordance with Section 3.5, on or prior to the Distribution, Spinco shall, or shall
cause another Spinco Entity to (in consultation with UWWH), establish and adopt Spinco Welfare Plans which will provide welfare benefits to each Spinco Group Employee who is a participant in any of the IP Welfare Plans (and their eligible spouses,
domestic partners and dependents, as the case may be) (collectively, the “Spinco Welfare Plan Participants”). Each such Spinco Welfare Plan shall (except as required by any applicable Spinco CBA or as a result of any “effects”
bargaining with an applicable union completed in compliance with the Transaction Agreements) be no more favorable than the applicable IP Welfare Plan. Coverage and benefits under any Spinco Welfare Plans shall then be provided to the Spinco Welfare
Plan Participants on an uninterrupted basis under any analogous newly established Spinco Welfare Plans; provided that nothing in this Agreement or any other Transaction Agreement shall require any Spinco Entity to establish any retiree or
post-termination medical, life or other post-termination welfare benefits. The Spinco Welfare Plans shall include a health care and dependent care flexible spending accounts established under Sections 125 and 129 of the Code. 

Section 6.2 Transitional Matters Under Spinco Welfare Plans. 

(a) Treatment of Claims Incurred. 

(i) Liability for Claims. With respect to unpaid covered claims incurred on or prior to the Distribution by any Spinco
Welfare Plan Participant under any IP Welfare Plans, including claims that are self-insured and claims that are fully insured through third-party insurance, IP shall retain and be responsible for the payment for such claims or shall cause such IP
Welfare Plans to fully perform, pay and discharge all such claims, as the case may be, and except as provided in Section 6.2(a)(iv), no Spinco Entity shall be responsible for any Liability with respect to any such claims. Claims incurred by
Spinco Welfare Plan Participants after the Distribution shall be the sole responsibility of the Spinco Welfare Plan and the Spinco Entities. In the event that a claim incurred by a Spinco Welfare Plan Participant after the Distribution is paid by IP
or an IP Welfare Plan, Spinco shall reimburse IP for such payment, solely to the extent such claim is a covered claim under a Spinco Welfare Plan by its express terms but is not paid by Spinco or its insurance carriers, in full within thirty
(30) days after the delivery by IP to Spinco of an invoice therefor together with such supporting documentation as Spinco may reasonably request. 

  
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 (ii) Claims Incurred. For purposes of this Section 6.2(a), a claim or
expense is deemed to be incurred (A) with respect to medical (including continuous hospitalization), dental, vision and/or prescription drug benefits, upon the rendering of health services giving rise to such claim or expense; (B) with
respect to life insurance, accidental death and dismemberment and business travel accident insurance, upon the occurrence of the event giving rise to such claim or expense; and (C) with respect to short- and long-term disability benefits, upon
the date of an individual’s disability, as determined by the disability benefit insurance carrier or claim administrator, giving rise to such claim or expense. For avoidance of doubt, unless required otherwise by applicable Law, a claim
incurred by a Person who is actively at work shall for purposes of this Section 6.2 be deemed unrelated to any prior claim notwithstanding that the claim may be the same as, or substantially similar to, a prior claim made by such Person. 

(iii) Long Term Disability Benefits. The applicable IP Welfare Plan providing LTD to Disabled Employees on or
immediately prior to the Distribution, if any, shall continue to provide such benefits to such employees after the Distribution as permitted under the terms and conditions of such IP Welfare Plan, subject to any permitted amendment thereto. After
the Distribution, the Spinco Group shall be solely responsible for providing LTD to eligible employees under Spinco Welfare Plans who become disabled after the Distribution. 

(iv) Disability Benefits. With respect to Disabled Employees who are receiving STD on or immediately prior to the
Distribution under applicable IP Welfare Plans, the applicable IP Welfare Plan shall continue to provide such STD, but Spinco will be responsible for paying for such benefits for the period after the Distribution until such time as those STD
benefits terminate in accordance with the terms of such IP Welfare Plan. In the event any such Disabled Employee or Spinco Group Employee, after the Distribution becomes eligible to transition directly from receiving STD to receiving LTD, IP, the
applicable IP Entity, or the applicable IP Welfare Plan will provide the LTD to which such Disabled Employee is entitled (taking into account, if applicable, the extent to which such Disabled Employee has elected such coverage and has made the
required contributions therefor). After the Distribution, the Spinco Group shall be solely responsible for providing STD and LTD to eligible employees under Spinco Welfare Plans who become disabled after the Distribution. 

(b) COBRA. The IP Group and its applicable IP Welfare Plans shall be solely responsible for providing continued health coverage
required by COBRA to employees (and their qualifying beneficiaries) who experience a COBRA qualifying event (as defined in Section 4980B of the Code) under such IP Welfare Plans on or prior to the Distribution, and shall be solely responsible
for all claims, obligations and Liabilities incurred under the applicable IP Welfare Plan as a result of such COBRA coverage. Spinco and the applicable Spinco Welfare Plans shall be solely responsible for providing continued health coverage to the
extent required by COBRA to Spinco Group Employees who experience a COBRA qualifying event after the Distribution, and shall be solely responsible for all claims, obligations and Liabilities incurred under the applicable Spinco Welfare Plan as a
result of such COBRA coverage. 

  
 16 

 Section 6.3 Waiver of Conditions or Restrictions. Without limiting the generality of
Section 3.6, the Spinco Welfare Plans will use reasonable best efforts to have waived all eligibility periods, limitations as to preexisting conditions, exclusions, service conditions, waiting periods or evidence of insurability requirements
that would otherwise be applicable to the Spinco Welfare Plan Participant following the Distribution Date to the extent that such employee had previously satisfied any such limitation or requirement under the corresponding IP Welfare Plan as of the
Distribution Date. In addition, following the Distribution Date, (a) the Combined Company Welfare Plans will use reasonable best efforts to have waived all eligibility periods, limitations as to preexisting conditions, exclusions, service
conditions, waiting periods or evidence of insurability requirements that would otherwise be applicable to any Spinco Group Employee or UWWH Employee to the extent that such employee had previously satisfied any such limitation or requirement under
the corresponding IP Benefit Plan, Spinco Welfare Plan or UWWH Benefit Plan as the date of commencement of participation in such Combined Company Welfare Plan and (b) Spinco shall use reasonable best efforts to cause the Combined Company
Welfare Plans to credit Spinco Group Employees and UWWH Employees (and their respective eligible dependents) for any deductibles, co-payments or other co-insurance and out-of-pocket expenses paid in the plan year under the IP Benefit Plan, Spinco
Welfare Plan or UWWH Benefit Plan prior to the transition of coverage for purposes of satisfying applicable deductible, co-insurance and maximum out-of-pocket expenses under any corresponding applicable Combined Company Welfare Plan with respect to
the plan year in which the transition occurs. 
 Section 6.4 Insurance Contracts. To the extent any IP Welfare Plan is funded
through the purchase of an insurance contract or is subject to any stop loss contract, IP and Spinco will cooperate and each will use its reasonable best efforts to maintain any pricing discounts or other preferential terms for both IP and Spinco
for a reasonable term. Neither Party shall be liable for failure to obtain such insurance contracts, pricing discounts, or other preferential terms for the other Party. Each Party shall be responsible for any new or additional premiums, charges, or
administrative fees that such Party may incur with respect to its insurance coverage pursuant to this Section 6.4. 
 Section 6.5
Third-Party Vendors. Except as provided below, to the extent any IP Welfare Plan is administered by a third-party vendor, IP and Spinco will cooperate and each will use its reasonable best efforts to replicate any contract with such
third-party vendor for Spinco and to maintain any pricing discounts or other preferential terms for both IP and Spinco for a reasonable term. Neither Party shall be liable for failure to obtain such pricing discounts or other preferential terms for
the other Party. Each Party shall be responsible for any new or additional premiums, charges, or administrative fees that such Party may incur with respect to its contracts pursuant to this Section 6.5. 

Section 6.6 Workers’ Compensation. With respect to claims for workers compensation, (a) the IP Group shall be
responsible for claims for workers compensation incurred in respect of (i) Former Employees and IP Retained Employees, whether incurred prior to, at or following the Distribution and (ii) Spinco Group Employees incurred prior to the
Distribution (regardless of whether such claim is made or reported prior to, at or following the Distribution), and (b) the Spinco Group shall be responsible for all claims for workers compensation in respect of Spinco Group Employees incurred
following the Distribution. For purposes of this Section 6.6, claims shall be deemed to be incurred upon the occurrence of the injury giving rise to such claim. 

  
 17 

 ARTICLE VII 

GENERAL PROVISIONS AND INDEMNIFICATION 

Section 7.1 Preservation of Rights to Amend. The rights of each IP Entity, each Spinco Entity and UWWH and its Subsidiaries to
amend, waive, or terminate any plan, arrangement, agreement, program, or policy referred to herein shall not be limited in any way by this Agreement. 

Section 7.2 Entire Agreement. Section 10.9 of the Contribution and Distribution Agreement is incorporated herein by
reference. To the extent any provision of this Agreement conflicts with the provisions of the Contribution and Distribution Agreement, the Merger Agreement or any other Transaction Agreement, the provisions of this Agreement shall be deemed to
control with respect to the subject matter hereof (except that the provision by IP of employee- or human resource-related services to Spinco to the extent set forth in the Transition Services Agreement shall not be deemed to result in such a
conflict). 
 Section 7.3 Binding Effect; No Third-Party Beneficiaries or Plan Amendment; Assignment. This Agreement shall inure
to the benefit of and be binding upon the Parties and their respective successors and permitted assigns. This Agreement is solely for the benefit of the Parties and should not be deemed to confer upon any third parties (including any current or
former employee, director, officer , service provider or other individual associated therewith) any remedy, claim, Liability, reimbursement, cause of action, or other right in excess of those existing without reference to this Agreement. Nothing in
this Agreement is intended to, nor shall it, amend any Benefit Plan or affect the applicable plan sponsor’s right to amend or terminate any Benefit Plan pursuant to the terms of such plan. This Agreement may not be assigned by any Party, except
with the prior written consent of the other Parties. 
 Section 7.4 Amendment; Waivers. Section 10.12 of the Contribution
and Distribution Agreement is incorporated herein by reference. 
 Section 7.5 Remedies Cumulative. All rights and remedies
existing under this Agreement or the Schedules attached hereto are cumulative to, and not exclusive of, any rights or remedies otherwise available to the Parties hereunder. 

Section 7.6 Notices. Unless otherwise expressly provided herein, all notices, claims, certificates, requests, demands and other
communications hereunder shall be made or given in accordance with the provisions of Section 10.2 of the Contribution and Distribution Agreement. 

Section 7.7 Counterparts. Section 10.11 of the Contribution and Distribution Agreement is incorporated herein by reference.

 Section 7.8 Severability. Section 10.6 of the Contribution and Distribution Agreement is incorporated herein by
reference. 

  
 18 

 Section 7.9 Governing Law, Consent to Jurisdiction and Waiver of Right to Jury Trial.
The provisions of Sections 10.10, 10.14 and 10.15 of the Contribution and Distribution Agreement are incorporated herein by reference. 

Section 7.10 Performance. Each of IP and Spinco shall cause to be performed, and hereby guarantees the performance of, all
actions, agreements and obligations set forth herein to be performed by any IP Entity and any Spinco Entity, respectively. The Parties each agree to take such further actions and to execute, acknowledge, and deliver, or to cause to be executed,
acknowledged, and delivered, all such further documents as are reasonably requested by the other for carrying out the purposes of this Agreement or of any document delivered pursuant to this Agreement. The provisions of Section 10.16 of the
Contribution and Distribution Agreement governing specific performance are incorporated herein by reference. 
 Section 7.11
Termination. The provisions of Section 10.13 of the Contribution and Distribution Agreement are incorporated herein by reference. 

Section 7.12 Headings. The provisions of Section 10.4 of the Contribution and Distribution Agreement are incorporated herein
by reference. 
 Section 7.13 Attorney Fees. The provisions of Section 10.5 of the Contribution and Distribution Agreement
are incorporated herein by reference. 
 Section 7.14 Assignment. The provisions of Section 10.7 of the Contribution and
Distribution Agreement are incorporated herein by reference. 
 Section 7.15 Survival and Indemnification. The provisions of
Section 6.1 of the Contribution and Distribution Agreement regarding the survival of covenants, obligations and agreements of the Parties shall apply to the covenants, obligations and agreements described in this Agreement as if they were set
forth in the Contribution and Distribution Agreement. Without limiting the generality of the Contribution and Distribution Agreement, any Liabilities described in this Agreement as being assumed or retained by IP or an IP Entity shall be Excluded
Liabilities, and any Liabilities described in this Agreement as being assumed or retained by Spinco or a Spinco Entity shall be Spinco Liabilities and, in each case, the provisions of the Contribution and Distribution Agreement (including the
indemnification provision of Section 6.3 of the Contribution and Distribution Agreement) shall apply to such Liabilities. 

[Signatures of the Parties on Next Page] 

  
 19 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed in their names by a
duly authorized officer as of the date first written above. 
  

			
	INTERNATIONAL PAPER COMPANY
		
	By :	 	 /s/ C. Cato Ealy

	Name:	 	C. Cato Ealy
	Title:	 	Senior Vice President
	
	XPEDX HOLDING COMPANY
		
	By:	 	 /s/ C. Cato Ealy

	Name:	 	C. Cato Ealy
	Title:	 	Vice President
	
	UWWH HOLDINGS, INC.
		
	By:	 	 /s/ Allan R. Dragone

	Name:	 	Allan R. Dragone
	Title:	 	Chief Executive Officer

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