X0303 4 2009-01-29 0 0001296435 Neenah Paper Inc NP 0001416637 O'Donnell John P 3460 PRESTON RIDGE ROAD SUITE 600 ALPHARETTA GA 30005 0 1 0 0 President, Fine Paper Stock Appreciation Rights 25.70 2009-01-29 4 A 0 8800 A 2018-01-29 Common Stock 8800 8800 D Stock Option (right to buy) 25.70 2009-01-29 4 D 0 8800 D 2018-01-29 Common Stock 8800 0 D Stock Appreciation Rights 32.55 2009-01-29 4 A 0 10000 A 2017-10-31 Common Stock 10000 10000 D Stock Option (right to buy) 32.55 2009-01-29 4 D 0 10000 D 2017-10-31 Common Stock 10000 0 D Stock Option (right to buy) 7.41 2009-01-29 4 A 0 27700 0 A 2019-01-28 Common Stock 27700 27700 D Performance Share Unit 2009-01-29 4 A 0 17700 0 A 2011-12-31 Common Stock 17700 17700 D On 1/29/09, the Company cancelled, as authorized in the Neenah Paper, Inc Omnibus Stock and Incentive Compensation Plan (the "Omnibus Plan"), options granted to the reporting person on 1/30/08. In exchange for the cancelled options, the reporting person received an equal number of Stock Appreciation Rights. The cancelled options provided for vesting in increments of one third on 1/30/2009, 1/30/2010, and 1/30/2011. The Stock Appreciation Rights vest on the same schedule. On 1/29/09, the Company cancelled, as authorized in the Omnibus Plan, options granted to the reporting person on 11/01/07. In exchange for the cancelled options, the reporting person received an equal number of Stock Appreciation Rights. The cancelled options provided for vesting in increments of one third on 11/01/2008, 11/01/2009, and 11/01/2010. The Stock Appreciation Rights vest on the same schedule. The stock options vest in increments of one third on 1/29/2010, 1/29/2011, and 1/29/2012. The units are convertible to common stock on a one-for-one basis. The units do not have an expiration date. The number of units granted is subject to adjustment based upon the attainment of certain performance criteria on 12/31/2011. /s/ Steven S. Heinrichs, by Power of Attorney 2009-02-02