Executive Severance Plan

Exhibit 10.9

ACCO EXECUTIVE SEVERANCE PLAN
AND SUMMARY PLAN DESCRIPTION

(As Amended and Restated Effective October 1, 2002)

ACCO BRANDS, INC. (the " Company" ) established the ACCO Executive Severance Plan effective as of September 1, 2000 (the " Plan" ). The Plan was previously amended and is further amended and restated in its entirety effective as of October 1, 2002. The Plan is intended to provide severance benefits to certain executive employees of the Company, ACCO World Corporation, Boone International, Inc. and Day-Timers, Inc. (referred to collectively as the " Employers" and individually as an " Employer" ). This Plan supersedes any other severance plan maintained by the Employers for executive employees.

SEVERANCE PLAN BENEFITS :

Coverage

All domestic (U.S.) full-time salaried employees of the Employer in salary grade 9 or above and who are terminated under the circumstances described in A, B or C below are covered by the Plan.

Eligibility

Employees in salary grade 9 or above are eligible for the severance pay set forth in the Plan in the event of:

A. Involuntary separation from employment from the Employer for any reason other than resignation, retirement, death, disability, or cause; provided the employee remains employed until the date designated by the Employer as his or her termination date. The term " cause" includes but is not limited to misconduct, negligence, dishonesty, criminal act, excessive absenteeism, and willful failure to perform job responsibilities and other conduct determined by the Employer to be " cause" . B. Voluntary separation from employment if, as a result of corporate restructuring, an employee' s job location has been relocated more than 35 miles from the employee' s former job location. C. Voluntary separation from employment due to a demotion of two or more salary grades or a decrease in salary of 25% or more. An employee will not be eligible for severance pay if he or she accepts the demotion or decrease in pay.

An employee is not eligible for severance pay if (i) the employee is offered a comparable position (as reasonably determined by the Employer) with the Employer, an affiliate of the Employer, or a successor employer as a result of a reorganization of the Employer or the sale of stock or assets of the Employer, and (ii) such position is located within a 35 mile radius of the employee' s former job location.


In addition, if an employee is offered and accepts another position with the Employer or any affiliate or business unit of Fortune Brands, Inc. prior to commencement of severance pay benefits, no severance pay will be provided.

Employees who terminate employment with an Employer under the circumstances described in A, B or C above may not be rehired by an Employer during the Severance Period. The term " Severance Period" means a period that begins on the employee' s date of termination and is equal to the number of weeks or months of severance pay that an employee is eligible to receive. In limited circumstances, the Vice President of Human Resources of ACCO Brands, Inc. may allow an exception to the restriction on rehiring by an Employer during the Severance Period. If an employee is rehired by the Employer or any affiliate or business unit of Fortune Brands, Inc. after severance pay benefits have been paid but during the Severance Period, the employee must repay a portion of the severance pay previously received. Such portion will be determined by multiplying the total severance benefits paid by a fraction, the numerator of which is the number of weeks remaining in the Severance Period as of the employee' s rehire date, and the denominator of which is the number of weeks in the entire Severance Period.

Amount of Severance Pay General

The amount of severance pay provided for terminations in the ordinary course (i.e., not following a Change of Control) will be calculated by the following schedule: Salary Grade Amount of Severance 18 19 24 months of base salary
plus two years of bonus 14 17 18 months of base salary
plus one year of bonus 9 13 12 months of base salary
plus one year of bonus

For purposes of the above schedule, " base salary" shall be determined as of the date of the employee' s termination of employment and " bonus" shall be based on target bonus for the year of the employee' s termination.

Amount of Severance Pay Change of Control

If any employee' s employment is terminated within 18 months following a Change of Control of the Employer, the General schedule regarding severance pay (above) will not apply and severance pay will be determined under this Change of Control Section. " Change of Control" means a Change of Control as defined in Attachment A to the Plan.

A. Payment of severance pay under this Section will be provided if employment terminates under the conditions described in paragraphs A or B under Eligibility above and the

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employee' s termination follows a Change of Control. In addition, severance pay under this Section will be provid ...