Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Catherine I. Slater, Senior Vice President - Global Cellulose Fibers and IP Asia, will be leaving International Paper Company (the "Company"), effective January 31, 2021. Ms. Slater and the Company executed an Agreement Regarding Continued Employment, Termination, Severance and General Release dated September 8, 2020 (the "Agreement"), which was approved by the Management Development and Compensation Committee of the Company's Board of Directors. Pursuant to the Agreement, a copy of which is attached hereto as Exhibit 99.1 and incorporated herein by reference, Ms. Slater will receive the standard termination allowance and other standard severance benefits under the Company's Salaried Employee Severance Plan. The standard termination allowance is a lump sum cash payment equal to two weeks of salary for each year or partial year of service, which is $858,462 for Ms. Slater (based on her 36 full or partial years of credited service). Ms. Slater will not receive any supplemental severance payments.

Item 9.01. Financial Statements and Exhibits.



(d) Exhibits.



Exhibit No.   Description

99.1            Agreement Regarding Continued Employment, Termination, Severance and
              General Release dated September 8, 2020 between International Paper
              Company and Catherine I. Slater.

104           Cover Page Interactive Data File (embedded with Inline XBRL document).

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