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Title: |
Supplemental Pension Benefit Agreement |
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Entities: |
International Paper Co.; Christopher P. Liddell |
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Date: |
2004 |
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Size: |
Preview shows 2KB of 6KB total |
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Price: |
$31 |
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ID: |
#367149 |
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SUPPLEMENTAL PENSION BENEFIT AGREEMENT BETWEEN
INTERNATIONAL PAPER COMPANY AND CHRISTOPHER P. LIDDELL
[INTERNATIONAL PAPER COMPANY LETTERHEAD]
December 14, 2004
Mr. Christopher P. Liddell
Senior Vice President and Chief Financial Officer
International Paper
400 Atlantic Street
Stamford, CT 06921
Re: Supplemental Pension Benefit
Dear Chris:
As an employee of International Paper (the "Company" or "IP"), you are entitled
to certain pension benefits under the Company's retirement plans, specifically
the Qualified Plan, and the Restoration Plan (collectively referred to herein as
the "Retirement Plans), based on your date of birth (April 24, 1958), and your
date of hire by IP (December 1, 2002). To recognize your seven (7) years of
service at Carter Holt Harvey, a subsidiary of IP ("CHH") prior to your transfer
to IP in Stamford, CT. in December 2002, the Company previously agreed to
provide you with a supplemental pension benefit (described below) that takes
into account your CHH service.
This letter explains that the Company's obligation to pay you a supplemental
pension benefit is distinct from any benefits you may be eligible to receive
under IP's Supplemental Executive Retirement Plan (the "SERP"). You became
eligible for the SERP upon your appointment as Senior Vice President and Chief
Financial Officer of the Company in April 2003, and the terms of the SERP may
only be modified by a decision of the Management Development & Compensation
Committee of the Board. Thus, this letter relates only to the benefits to which
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