[Rayonier Letterhead] (May 30th, 2014)
The Rayonier Inc. Board of Directors believes that your efforts in your capacity as Chief Executive Officer of Rayonier Advanced Materials Inc. ("RYAM") are crucial to the success of RYAM and to enhancing shareholder value.
Transaction Bonus Agreement (January 29th, 2014)
As you are aware, it was announced that Rayonier Inc. ("Rayonier") believes that it is in its shareholders' best interest to separate Rayonier into two publicly traded companies (the "Spinoff Transaction") - one focused on Timber and Real Estate and a new corporation focused on Performance Fibers and other performance materials ("PFCo"). You are an important member of our team and your continued commitment to facilitate the Spinoff Transaction and remain employed with us through at least six months following the date of the closing of the Spinoff Transaction is crucial to our continued success. The period from today through the date that is six months after the closing of the Spinoff Transaction or through December 31, 2014 if the Spinoff Transaction is abandoned, is referred to in this agreement as the "Eligibility Period".
Rayonier Inc. (October 31st, 2013)
I, James L. Posze, do hereby certify that I am the Senior Vice President, Human Resources of Rayonier Inc. ("Company") and that pursuant to the authority granted me in resolutions adopted by the Board of Directors of the company on February 24, 1994, hereby adopted the following preambles and resolutions on July 18, 2013;