Form 5

 

FORM 5 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(h) of the Investment Company Act of 1940 		OMB APPROVAL
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o Form 3 Holdings Reported
o Form 4 Transactions Reported

(Print or Type Responses)
 1. Name and Address of Reporting Person*



  Eaton                                   Robert                                 J.		 2. Issuer Name and Ticker or Trading Symbol

    International Paper Company: IP		 6. Relationship of Reporting Person(s) to Issuer
    (Check all applicable)

     x Director                  o 10% Owner
     o Officer                     o Other (specify below)
        (give title below)

            
   (Last)                                  (First)                             (Middle)


  c/o International Paper Company
  400 Atlantic Street		 3. I.R.S. Identification
    Number of Reporting
    Person, if an entity
    (Voluntary)		 4. Statement for
    Month/Year

    12/2002
                                             (Street)



  Stamford                               CT                                 06921		 5. If Amendment, Date of
    Original (Month/Year)		 7. Individual or Joint/Group Reporting
    (Check Applicable Line)
     x Form filed by One Reporting Person
     o Form filed by More than One Reporting Person
   (City)                                (State)                               (Zip) Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security
    (Instr. 3)  		 2. Trans-
    action
    Date
    (Month/
    Day/
    Year)  		 2A. Deemed
       Execution
       Date, if any
       (Month/
       Day/
       Year) 		 3. Trans-
    action
    Code
    (Instr. 8)		 4. Securities Acquired (A)
    or Disposed of (D)
    (Instr. 3, 4 and 5)		 5. Amount of
    Securities
    Beneficially
    Owned
    at end of
    Issuer's Fiscal
    Year
    (Instr. 3 and 4)		 6. Owner-
    ship
    Form:
    Direct
    (D) or
    Indirect
    (I)
    (Instr. 4)		 7. Nature of
    Indirect
    Beneficial
    Ownership
    (Instr. 4)
Amount (A)
 or
(D) 		      Price      
 Common Stock              10,800  D  
                   
                   
                   
                   
                   
                   
                   
                   
                   
Reminder:   Report on a separate line for each class of securities beneficially owned directly or indirectly.
*   If the form is filed by more than one reporting person, see Instruction 4(b)(v).
Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

 

FORM 5 (continued)

Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
    (Instr. 3) 		2. Conver-
    sion or
    Exercise
    Price of
    Deri-
    vative
    Security 		3. Trans-
    action
    Date
    (Month/
    Day/
    Year)  		 3A. Deemed
       Execution
       Date, if
       any
       (Month/
       Day/
       Year) 		4. Trans-
    action
    Code
    (Instr. 8) 		5. Number of Deriv-
    ative Securities
    Acquired (A) or
    Disposed of (D)
    (Instr. 3, 4 and 5		 6. Date Exercisable
    and Expiration
    Date
    (Month/Day/Year)		 7. Title and Amount of
    Underlying Securities
    (Instr. 3 and 4)		 8. Price of
    Deriv-
    ative
    Security
    (Instr. 5) 		9. Number
    of Deriv-
    ative
    Securities
    Bene-
    ficially
    Owned
    at End of
    Year
    (Instr. 4)		 10. Owner-
      ship of
      Deriva-
      tive
      Security:
      Direct
      (D) or
      Indirect
      (I)
      (Instr. 4) 		11. Nature
      of
      Indirect
      Benefi-
      cial
      Owner-
      ship
      (Instr. 4)
(A) (D) Date
Exercisable 		Expiration
Date 		   Title    Amount or
Number of
Shares
 Common Stock Units    1/1/02      300        Common Stock Units (CSU)  300        
 Common Stock Units    1/8/02      109(1)        CSU  109(1)  $41.32      
 Common Stock Units    2/12/02      207(1)        CSU  207(1)  $43.47      
 Common Stock Units    3/12/02      202(1)        CSU  202(1)  $44.63      
 Common Stock Units    4/9/02      220(1)        CSU  220(1)  $40.89      
 Common Stock Units    5/7/02      3,400        CSU  3,400        
 Common Stock Units    6/11/02      115(1)        CSU  115(1)  $43.33  20,123(1)(3)  I  (2)
                             
                             

Explanation of Responses:

1. Share amounts are rounded.
2. Securities reported relate to securities obtained and owned in connection with the Deferred Compensation Plan for Non-Employee Directors.
3. Includes 655 units acquired through the Dividend Reinvestment feature of the Deferred Compensation Plan for Non-Employee Directors.

 

     
/s/ John E. Walendzik   January 28, 2003
 
** Signature of Reporting Person   Date
 By: John E. Walendzik,
Attorney-in-Fact for
Robert J. Eaton		    

 

**   Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
 Note:   File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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