Exhibit 10.1
November 4, 2008
Robert J. Keller
[Address]
Dear Bob:
On behalf of ACCO Brands Corporation
(“ACCO Brands”), I’m very pleased to advise you
that the Board of Directors has approved the following compensation
program for your position as Chief Executive Officer effective as
of October 22, 2008. Your primary work location will be the
company’s headquarters in Lincolnshire, IL. The details
of your compensation program are as follows:
·
Base Salary:
Your annual base salary will be
$720,000, payable bi-weekly, less applicable taxes and
withholdings.
·
Short-term
Incentive: You will
participate in the annual ACCO Brands Management Incentive Plan
(MIP) with a target award opportunity of 100% of your annual base.
You are eligible for a pro-rata MIP for the 2008 Plan
year and any potential awards are based on actual eligible base
salary earnings and will range from 0% to 200% of the target award,
depending upon actual performance against standards established by,
and at the discretion of, the Compensation Committee of the Board
of Directors.
·
Long-Term
Incentive: You will
be eligible to participate in the ACCO Brands Long-term Incentive
Plan (LTIP). The plan is an equity-based, 4-year rolling
plan, with an incentive grant typically made once each year.
The award opportunity for your level consists of Performance
Share Units (PSUs), Restricted Stock Units (RSUs), and Stock
Options (SOs). For the 2008 plan year, you will be
granted:
PSUs : 23,000 PSUs for the 2007-2009
Performance Period; and 45,000 PSUs for the 2008-2010
