Exhibit 10.41


 


vertis


 


	
  To:

  	
   

  	
  [Named
  Individual]

  
	
   

  	
   

  	
   

  
	
  From:

  	
   

  	
  Don Roland

  
	
   

  	
   

  	
   

  
	
  Date:

  	
   

  	
  March 3,
  2004

  
	
   

  	
   

  	
   

  
	
  Re:

  	
   

  	
  Fiscal Year
  2004 EIP

  



 


memo


I am pleased
to confirm your participation in the Vertis 2004 Executive Incentive Plan.  Your personal EIP target incentive is
    % of your base salary as of December 31, 2004.


 


In 2004, we
are implementing a solid business plan focused on revenue generation, margin
improvement and operational excellence. 
Our strong leadership team is one of our most important strategic advantages.
As a member of that team, you set an example of the commitment and leadership
that will enable Vertis to meet and exceed our 2004 goals. We are united in our
commitment to be world class in everything we do, and in our determination to
live the Vertis Vision.


 


Consistent
with our 2004 business plan and the Vertis Vision, we are implementing a single
incentive plan for all Vertis EIP participants in 2004.  The plan is based on corporate-wide EBITDA,
which must improve significantly as we recover from last year’s significant
declines.  This is a change from last
year’s plan which had other components in addition to EBITDA.


 


2004 EBITDA Target


 


•                                          100%
of your EIP incentive will be based on Vertis EBITDA, “Earnings Before
Interest, Taxes, Depreciation and Amortization”  before EIP.  The company’s
EBITDA target for which you will achieve 100% or your incentive (before EIP) is
$224.0 million.


 


•                                          If
Vertis EBITDA for 2004 is 90% of target or below, there will be no EBITDA
payout.


 


•                                          For
approximately every 1% of EBITDA achieved over 90%, the plan will pay out 10%,
up to 200% maximum at 110.7% of the EBITDA target.


 


	
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Our Executive
Incentive Plan design aligns with our “One Vertis” concept.  The plan rewards overall achievement through
the efforts of the entire leadership team. 
As part of that team, you play a major role in influencing others and in
ensuring the company’s success.  Thank
you for your commitment to our vision and for your diligence in working toward
our goals.


 


2004 Plan Payout Chart:


 




	
  EBITDA
  Component

  	
   

  
	
  Attainment
  to

  Goal

  	
   

  	
  % Payout

  	
   

  
	
  90.0%

  	
   

  	
  0%

  	
   

  
	
  90.9%

  	
   

  	
  10%

  	
   

  
	
  91.9%

  	
   

  	
  20%

  	
   

  
	
  92.8%

  	
   

  	
  30%

  	
   

  
	
  93.7%

  	
   

  	
  40%

  	
   

  
	
  94.6%

  	
   

  	
  50%

  	
   

  
	
  95.7%

  	
   

  	
  60%

  	
   

  
	
  96.8%

  	
   

  	
  70%

  	
   

  
	
  97.9%

  	
   

  	
  80%

  	
   

  
	
  98.9%

  	
   

  	
  90%

  	
   

  
	
  100.0%

  	
   

  	
  100%

  	
   

  
	
  101.1%

  	
   

  	
  110%

  	
   

  
	
  102.1%

  	
   

  	
  120%

  	
   

  
	
  103.2%

  	
   

  	
  130%

  	
   

  
	
  104.3%

  	
   

  	
  140%

  	
   

  
	
  105.4%

  	
   

  	
  150%

  	
   

  
	
  106.4%

  	
   

  	
  160%

  	
   

  
	
  107.5%

  	
   

  	
  170%

  	
   

  
	
  108.6%

  	
   

  	
  180%

  	
   

  
	
  109.6%

  	
   

  	
  190%

  	
   

  
	
  110.7%

  	
   

  	
  200%

  	
   

  






 


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