SEC Contract Filing

Filing Date: 2019-02-20

Document Content:
<DOCUMENT>
<TYPE>EX-10.27
<SEQUENCE>2
<FILENAME>ip-20181231exhibit1027.htm
<DESCRIPTION>EXHIBIT 10.27
<TEXT>
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<div><a name="s6421C3F1E4A26F5F4B53EA22A7FE8639"></a></div><div><div style="line-height:138%;padding-bottom:13px;text-align:right;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-style:italic;font-weight:bold;">Exhibit 10.27</font></div><div style="line-height:138%;padding-bottom:13px;text-align:right;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-style:italic;font-weight:bold;">EXECUTION VERSION</font></div><div style="line-height:138%;padding-bottom:13px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:10.5pt;"><font style="font-family:Arial;font-size:10.5pt;font-weight:bold;">THE USE OF THE FOLLOWING NOTATION IN THIS EXHIBIT INDICATES THAT THE CONFIDENTIAL PORTION HAS BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION: [***]</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:16px;text-align:center;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">COMMITMENT AGREEMENT</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">September 25, 2018 (the &#8220;</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;text-decoration:underline;">Commitment Agreement Date</font><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;">&#8221;)</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;">The Prudential Insurance Company of America (&#8220;</font><font style="font-family:Arial Narrow;font-size:12pt;text-decoration:underline;">Prudential</font><font style="font-family:Arial Narrow;font-size:12pt;">&#8221;) is pleased to provide, on the following terms, the non-participating single premium group annuity contract, supported by a dedicated separate account and guaranteed by its general account (the &#8220;</font><font style="font-family:Arial Narrow;font-size:12pt;text-decoration:underline;">Contract</font><font style="font-family:Arial Narrow;font-size:12pt;">&#8221;) for the Retirement Plan of International Paper Company (the &#8220;</font><font style="font-family:Arial Narrow;font-size:12pt;text-decoration:underline;">Plan</font><font style="font-family:Arial Narrow;font-size:12pt;">&#8221;) in consideration of the mutual promises made and representations, warranties and covenants contained in this Commitment Agreement (this &#8220;</font><font style="font-family:Arial Narrow;font-size:12pt;text-decoration:underline;">Commitment Agreement</font><font style="font-family:Arial Narrow;font-size:12pt;">&#8221;). For purposes of this Commitment Agreement, capitalized terms will have the meaning set forth in paragraph </font><font style="font-family:Arial Narrow;font-size:11pt;">10</font><font style="font-family:Arial Narrow;font-size:12pt;">. By signing this Commitment Agreement, Prudential and International Paper Company (the &#8220;</font><font style="font-family:Arial Narrow;font-size:12pt;text-decoration:underline;">Company</font><font style="font-family:Arial Narrow;font-size:12pt;">&#8221;), and State Street Global Advisors Trust Company, acting solely in its capacity as the independent fiduciary of the Plan (the &#8220;</font><font style="font-family:Arial Narrow;font-size:12pt;text-decoration:underline;">Independent Fiduciary</font><font style="font-family:Arial Narrow;font-size:12pt;">&#8221;), agree as follows: </font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:138%;font-size:12pt;padding-left:24px;"><font style="font-family:Arial Narrow;font-size:12pt;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:138%;text-align:left;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;font-weight:bold;text-decoration:underline;">GAC Issuance and GAC Issuance True-Up Premium</font><font style="font-family:Arial Narrow;font-size:12pt;">. Prudential agrees to issue the Contract as follows: </font></div></td></tr></table><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:108px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:138%;font-size:12pt;padding-left:84px;"><font style="font-family:inherit;font-size:12pt;">a.</font></div></td><td style="vertical-align:top;"><div style="line-height:138%;text-align:left;font-size:12pt;"><font style="font-family:Arial Narrow;font-size:12pt;text-decoration:underline;">Specimen GAC Form Issuance</font><font style="font-family:Arial Narrow;font-size:12pt;">. On the Scheduled GAC Issuance Date, subject t