Item 5.02 Departure of Directors or Certain Officers; Election of Directors;

Appointment of Certain Officers; Compensatory Arrangements of Certain

Officers.

As previously disclosed, Matthew Archambeau resigned as Senior Vice President of Manufacturing and Energy of Verso Corporation (the "Company") on April 5, 2021. On June 23, 2021, the Company and Mr. Archambeau entered into a letter agreement (the "Severance Agreement") that includes a general release of claims by Mr. Archambeau in favor of Verso. Pursuant to the Severance Agreement, so long as Mr. Archambeau does not revoke such release of claims and he complies with certain ongoing obligations (including obligations regarding confidentiality, non-disparagement, non-competition, and non-solicitation), Verso will pay Mr. Archambeau a severance benefit of $469,915.56, Mr. Archambeau will remain eligible to receive a prorated annual incentive award for 2021, Verso will pay certain costs for Mr. Archambeau to continue healthcare coverage under COBRA for up to eighteen months, a certain number of Mr. Archambeau's restricted stock units granted by Verso that were outstanding on April 5, 2021 and subject to only time-based vesting requirements will fully vest and a certain number of Mr. Archambeau's restricted stock units granted by Verso that were outstanding on April 5, 2021 and subject to performance-based vesting requirements will remain outstanding and eligible to vest to the extent the applicable performance-based vesting conditions are satisfied in accordance with applicable grant agreements.

The foregoing summary of the Severance Agreement is subject to, and qualified in its entirety by, the full text of such agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.




(d)  Exhibits



Exhibit
Number       Description

10.1           Letter Agreement, dated June 23, 2021, by and among Verso
             Corporation and Matthew Archambeau

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

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