MOSINEE PAPER CORPORATION
1994 STOCK OPTION PLAN
Mosinee Paper Corporation, a corporation with its principal place of business located in Mosinee, Wisconsin
(the "Company"), hereby adopts the Mosinee Paper Corporation 1994 Stock Option Plan (the "Plan"), as set
Section 1. PURPOSE. The Plan is intended to attract and retain key employees and directors by permitting key
employees of the Company or any parent or subsidiary of the Company and directors of the Company to acquire
authorized and unissued, or reacquired, shares of common stock of the Company pursuant to purchase options.
The availability of the options and grants thereof will furnish additional inducements to such employees to continue
employment with the Company, or any parent or subsidiary of the Company, and such directors to continue
serving as directors of the Company, and encourage them, by giving them an opportunity to acquire a greater
stake in the Company's success, to increase their efforts to promote the best interests of the Company and its
It is the express intent of the Company that, subject to Section 6.2(h) hereof, all options granted hereunder
designated "Incentive Stock Options" shall meet the requirements of Section 422 of the Internal Revenue Code of
1986, as amended (the "Code"), or any successor section or sections. It is the further intent of the Company that
options granted hereunder designated "Non-Qualified Stock Options" shall not meet the requirements of
Section 422 of the Code. A key employee or director may be granted and may hold one or more options under
Section 2. NUMBER OF SHARES AVAILABLE FOR OPTIONS. The aggregate number of shares of
common stock, no par value, of the Company (the "Shares") which may be issued under options granted
pursuant to the Plan shall be 346.667.
Section 3. ADMINISTRATION OF THE PLAN.
Section 3.1 GENERAL. The Plan shall be administered by such committee (the "Committee") as shall be
designated by the Boa