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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section&nbsp;13 or 15(d) of </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of Earliest Event Reported): September&nbsp;9, 2013 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>International Paper Company </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Commission
file number 1-3157 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>New York</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>13-0872805</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>6400 Poplar Avenue, Memphis, Tennessee</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>38197</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(ZIP Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (901)&nbsp;419-7000 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>SECTION 5. CORPORATE GOVERNANCE AND MANAGEMENT. </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;5.02.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>(d) Election of New Director: </I>On September&nbsp;10, 2013, the Board of Directors of International Paper Company (the
&#147;Company&#148;) elected Admiral Jay L. Johnson as a director, effective October&nbsp;1, 2013. Admiral Johnson&#146;s term as a director will expire at the annual meeting of the Company&#146;s stockholders in May 2014, at which time his
continued Board service will be subject to renomination and stockholder approval. With the election of Admiral Johnson, the size of the Board is now 11 members. The Board intends to assign Admiral Johnson to one or more of its committees at a later
date. <I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Admiral Johnson, age 67, retired as Chairman and Chief Executive Officer of General Dynamics Corporation, a publicly traded
manufacturer of worldwide defense, aerospace, and other technology products, in December 2012. He served as its Chairman from May 2010 and as its Chief Executive Officer from July 2009. He served as its President from July 2009 to May 2010, and as
its Vice Chairman from September 2008 to June 2009. He served on its board of directors from 2003 to December 2012. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">From 2000 to 2008,
Admiral Johnson served in various senior executive roles at Dominion Resources Inc., a publicly traded energy company, and its affiliated companies, including as Chief Executive Officer of Dominion Virginia Power. Prior to 2000, he had a
distinguished 32-year career as an officer in the U.S. Navy. He retired as an Admiral in July 2000, after serving as Chief of Naval Operations and as a member of the Joint Chiefs of Staff since 1996. He is a 1968 graduate of the U.S. Naval Academy.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Board of Directors has determined that Admiral Johnson is independent and meets the applicable independence requirements of the New
York Stock Exchange and the Board&#146;s more rigorous standards for determining director independence. There have been no transactions since January&nbsp;1, 2012, and there are no currently proposed transactions, in which the Company was or is to
be a participant and in which he or any member of his immediate family had or will have any interest, that are required to be reported under Item&nbsp;404(a) of Regulation S-K. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The selection of Admiral Johnson was not pursuant to any arrangement or understanding between him and any other person. The Governance
Committee of the Board of Directors recommended him to the full Board as a nominee for election. A third-party business leadership recruiting firm engaged by the Governance Committee provided assistance in identifying him as a potential Board
candidate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Admiral Johnson will be compensated in accordance with previously disclosed compensation programs for the Company&#146;s
non-management (outside) directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>(e) Amendments to Forms of Change-in-Control Agreements: </I>As previously disclosed, the Company
has entered into change-in-control agreements with certain of its officers, including all of its executive officers, that provide severance and other </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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benefits in the event of a change in control of the Company. There are two forms of change-in-control agreement: one for the Chief Executive Officer and all &#147;grandfathered&#148; senior vice
presidents elected prior to 2012 (all named executive officers) (the &#147;Tier I Agreement&#148;), and the other for all future senior vice presidents and all &#147;grandfathered&#148; vice presidents elected prior to February 2008 (the &#147;Tier
II Agreement,&#148; and together with the Tier I Agreement, the &#147;Agreements&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As disclosed in the Company&#146;s 2013 proxy
statement, in February 2013, the Company&#146;s Board and its Management Development and Compensation Committee (the &#147;Committee&#148;) approved amending the Agreements to move from a &#147;single-trigger&#148; to a &#147;double-trigger&#148;
approach to acceleration of vesting of equity awards and committed to implementing this change in the Company&#146;s forms of Agreements by the end of 2013 and subsequently in all existing and future Agreements. A double-trigger approach requires
that there is a both a change in control and a qualifying termination of employment (<I>i.e.,</I> involuntary termination without cause or departure for &#147;good reason&#148;) in order for equity awards to accelerate. This approach is widely
recognized as a good governance practice, as it prevents executives from receiving an automatic windfall in the event of a change in control and serves as an incentive for the senior executives to continue with the Company through and after a change
in control in order to receive the benefit of their unvested equity awards. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On September&nbsp;10-11, 2013, the Committee and the Board
approved amended forms of Agreements providing for (i)&nbsp;double-trigger acceleration of equity-award vesting in circumstances where replacement awards are provided in substitution for outstanding equity awards upon the change in control, and
(ii)&nbsp;a two-year term, or protection period for continued employment, following a change in control (previously, the Tier II Agreement provided for a one-year term, or protection period for continued employment, following a change in control).
The foregoing summary of the amendments to the Agreements is qualified in its entirety by reference to the text of the amended forms of Agreements, which will be filed as exhibits to the Company&#146;s quarterly report on Form 10-Q for the fiscal
quarter ending September&nbsp;30, 2013. The amended Agreements will supersede the existing Agreements, and the Company will require that all officers who currently have Agreements execute the amended Agreements as soon as practicable. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" COLSPAN="5"><B>International Paper Company</B></TD></TR>
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<TD VALIGN="top">Date: September 13, 2013</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ SHARON R. RYAN</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Sharon R. Ryan</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:8pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">Senior Vice President, General Counsel and Corporate Secretary</TD></TR>
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{"company-data": {"conformed-name": "INTERNATIONAL PAPER CO /NEW/", "cik": "0000051434", "assigned-sic": "2621", "irs-number": "130872805", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-03157", "film-number": "131095516"}, "business-address": {"street1": "6400 POPLAR AVENUE", "city": "MEMPHIS", "state": "TN", "zip": "38197", "phone": "901-419-7000"}, "mail-address": {"street1": "6400 POPLAR AVENUE", "city": "MEMPHIS", "state": "TN", "zip": "38197"}, "former-company": {"former-conformed-name": "INTERNATIONAL PAPER & POWER CORP", "date-changed": "19710527"}}
8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): September 9, 2013
International Paper Company
(Exact name of registrant as specified in its charter)
Commission
file number 1-3157
New York
13-0872805
(State or other jurisdiction
of incorporation)
(IRS Employer
Identification No.)
6400 Poplar Avenue, Memphis, Tennessee
38197
(Address of principal executive offices)
(ZIP Code)
Registrant's telephone number, including area code: (901) 419-7000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
SECTION 5. CORPORATE GOVERNANCE AND MANAGEMENT.
Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(d) Election of New Director:
On September 10, 2013, the Board of Directors of International Paper Company (the
"Company") elected Admiral Jay L. Johnson as a director, effective October 1, 2013. Admiral Johnson's term as a director will expire at the annual meeting of the Company's stockholders in May 2014, at which time his
continued Board service will be subject to renomination and stockholder approval. With the election of Admiral Johnson, the size of the Board is now 11 members. The Board intends to assign Admiral Johnson to one or more of its committees at a later
date.
Admiral Johnson, age 67, retired as Chairman and Chief Executive Officer of General Dynamics Corporation, a publicly traded
manufacturer of worldwide defense, aerospace, and other technology products, in December 2012. He served as its Chairman from May 2010 and as its Chief Executive Officer from July 2009. He served as its President from July 2009 to May 2010, and as
its Vice Chairman from September 2008 to June 2009. He served on its board of directors from 2003 to December 2012.
From 2000 to 2008,
Admiral Johnson served in various senior executive roles at Dominion Resources Inc., a publicly traded energy company, and its affiliated companies, including as Chief Executive Officer of Dominion Virginia Power. Prior to 2000, he had a
distinguished 32-year career as an officer in the U.S. Navy. He retired as an Admiral in July 2000, after serving as Chief of Naval Operations and as a member of the Joint Chiefs of Staff since 1996. He is a 1968 graduate of the U.S. Naval Academy.
The Board of Directors has determined that Admiral Johnson is independent and meets the applicable independence requirements of the New
York Stock Exchange and the Board's more rigorous standards for determining director independence. There have been no transactions since January 1, 2012, and there are no currently proposed transactions, in which the Company was or is to
be a participant and in which he or any member of his immediate family had or will have any interest, that are required to be reported under Item 404(a) of Regulation S-K.
The selection of Admiral Johnson was not pursuant to any arrangement or understanding between him and any other person. The Governance
Committee of the Board of Directors recommended him to the full Board as a nominee for election. A third-party business leadership recruiting firm engaged by the Governance Committee provided assistance in identifying him as a potential Board
candidate.
Admiral Johnson will be compensated in accordance with previously disclosed compensation programs for the Company's
non-management (outside) directors.
(e) Amendments to Forms of Change-in-Control Agreements:
As previously disclosed, the Company
has entered into change-in-control agreements with certain of its officers, including all of its executive officers, that provide severance and other
2
benefits in the event of a change in control of the Company. There are two forms of change-in-control agreement: one for the Chief Executive Officer and all "grandfathered" senior vice
presidents elected prior to 2012 (all named executive officers) (the "Tier I Agreement"), and the other for all future senior vice presidents and all "grandfathered" vice presidents elected prior to February 2008 (the "Tier
II Agreement," and together with the Tier I Agreement, the "Agreements").
As disclosed in the Company's 2013 proxy
statement, in February 2013, the Company's Board and its Management Development and Compensation Committee (the "Committee") approved amending the Agreements to move from a "single-trigger" to a "double-trigger"
approach to acceleration of vesting of equity awards and committed to implementing this change in the Company's forms of Agreements by the end of 2013 and subsequently in all existing and future Agreements. A double-trigger approach requires
that there is a both a change in control and a qualifying termination of employment (
i.e.,
involuntary termination without cause or departure for "good reason") in order for equity awards to accelerate. This approach is widely
recognized as a good governance practice, as it prevents executives from receiving an automatic windfall in the event of a change in control and serves as an incentive for the senior executives to continue with the Company through and after a change
in control in order to receive the benefit of their unvested equity awards.
On September 10-11, 2013, the Committee and the Board
approved amended forms of Agreements providing for (i) double-trigger acceleration of equity-award vesting in circumstances where replacement awards are provided in substitution for outstanding equity awards upon the change in control, and
(ii) a two-year term, or protection period for continued employment, following a change in control (previously, the Tier II Agreement provided for a one-year term, or protection period for continued employment, following a change in control).
The foregoing summary of the amendments to the Agreements is qualified in its entirety by reference to the text of the amended forms of Agreements, which will be filed as exhibits to the Company's quarterly report on Form 10-Q for the fiscal
quarter ending September 30, 2013. The amended Agreements will supersede the existing Agreements, and the Company will require that all officers who currently have Agreements execute the amended Agreements as soon as practicable.
3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
International Paper Company
Date: September 13, 2013
By:
/s/ SHARON R. RYAN
Name:
Sharon R. Ryan
Title:
Senior Vice President, General Counsel and Corporate Secretary
4