EX-10.1



 Exhibit 10.1 
  






 
 We Create 
HAPPINESS

Laughter and Love 
AMERICAN GREETINGS 
Executive Incentive Plan 
Fiscal Year 2015 & Fiscal Year 2016 
Rewards for Your Contribution 
to Our Success 
Rev. 03.01.2014 







 




 
 Creativity. Innovation. Collaboration. 
Our commitment to these ideals has allowed us to become one of the world’s largest producers and distributors of social expressions products. As a leader at American
Greetings, you have a unique opportunity to focus our associates on these key areas and to cultivate a work environment that is stimulating, productive and rewarding. 
In addition, the decisions you make and the things you do every day have a direct and meaningful impact both within your department and across the company. We have designed the
Executive Incentive Plan (also referred to herein as the “Plan”) to reward you for the critical role you play. As a leader, you help foster and channel your energy and the energy of those around you into delivering winning products and
strategies to the marketplace and bringing our corporate mission to life. 
Table of Contents 
Plan Objectives and Who Is Eligible 2 
How the Plan Works 3 
Measuring Performance 4 
Award Calculation 5 
Important Administrative Plan Details 6-7 
Key Terms 8 







 




 
 Plan Objectives

Emphasizes teamwork and mutual cooperation | Our success depends on the collaborative effort of all of our associates who demonstrate commitment to quality.

Rewards leaders for success | Award opportunity is greatest when attention is given to the achievement of Corporate EBITDA objectives. 
Who Is Eligible 
You are eligible to participate in the Plan if you are a company executive.

Refer to the sections entitled Important Administrative Plan Details and Key Terms for additional details on eligibility for participation in the Plan. 
Watch for Your Participant Letter 
You will receive a Participant Letter that outlines
information specific to your participation in the Plan, such as your target award. 
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 How the Plan Works 
The
Plan provides a cash award for the achievement of Corporate EBITDA measured over a 12-month fiscal year. EBITDA is the sum of the corporation’s earnings before interest, taxes, depreciation and amortization as calculated based on the
consolidated statement of cash flows. 
Your Award Opportunity 
Your target
award is established at the beginning of each fiscal year and will be communicated to you at that time. 
Your target award is: 
A percentage of your base earnings based on your job level 
The award you would earn if we
achieve 100% of our Corporate EBITDA goal 
The amount of the award you receive will increase or decrease based on actual Corporate EBITDA performance. 
American Greetings will establish goals prior to the end of each fiscal year. At the end of the fiscal year, American Greetings determines the extent the Corporate EBITDA
performance goal has been met. 
EXAMPLE 
If base earnings are $200,000 and
target award percentage is 30% of base earnings, total target award is $60,000. 
Base Earnings ($200,000) 
x 
Target Award % (30%) 
Target Award ($60,000) 
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 Measuring Performance

When the American Greetings Corporate EBITDA result for the fiscal year is final, it is compared to the EBITDA goal that was established for the purpose of the
Executive Incentive Plan. 
Financial Performance Award Scale 
Your actual award
is based on fiscal year-end performance results using the award scale shown at right. Your actual award may range from 0% to 200% of the target award. 
To earn an
award, Corporate EBITDA must at least reach threshold. There is no award for below-threshold performance. Corporate EBITDA threshold is 90% of the goal. 
Achieving
goal is defined as a range between 97% and 100% and means American Greetings pays awards at target levels. 
Performance above goal will result in an increased award
up to a maximum level. 
Performance Multiplier 
How It’s Used in the Award
Scale 
The performance multiplier is another way to think about the award scale. There is a relationship between performance and your actual award. The 4:1
multiplier for the Corporate EBITDA performance measure means that for every 1% increase or decrease in the percentage of goal achieved, your target award will be adjusted up or down by 4% to determine your actual award. 
Performance Actual Award 
Above Goal MAXIMUM 200% of Target 
Goal G O A L 100% of Target 
Below Goal THRESHOLD 72% of Target 
Below Threshold 
0% of Target (No Award Below Threshold) 
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 Ben’s Award Example

Ben, Manager $200,000 base earnings, $60,000 target award 
Corporate EBITDA

Award Scale (4:1) Performance as % of Goal Actual Award as a % of Target Actual Award in Dollars 
Maximum 125% 200% $120,000 
120% 180% $108,000 
110% 140% $84,000 
Goal 97%-100% 100% $60,000 
Threshold 90% 72% $43,200 
HOW IT’S CALCULATED 
The formula to calculate your actual award as a percent of target is: 
(Actual Performance -
Goal) x 4 + 100% = Actual Award as a % of Target Award 
Performance Above Goal: (110% - 100%) x 4 + 100% = 140% of Target Award 
Performance Below Goal: (90% - 97%) x 4 + 100% = 72% of Target Award 
BEN’S ACTUAL AWARD
FOR CORPORATE COMPONENT 
EBITDA Performance: 110% of goal = actual award of 140% of target ($84,000) 
Total Award = $84,000 
$100,000 Target Award x Award as % of Target = Actual Award 
$60,000 x 140% = $84,000 
$80,000 
$60,000 
$40,000 $60,000 $84,000 
$20,000 
$0

Target Award Actual Award 
$60,000 $84,000 
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 Important Administrative Plan Details 
If your employment status changes, your Plan participation and any payouts may be affected as described below: 
New Hires 
If you are hired during the Plan year — defined as the American Greetings
fiscal year — and are eligible to participate in the Executive Incentive Plan, you will receive a prorated incentive award for the period of time you participated in the Plan during the applicable fiscal year based on the base earnings paid to
you during that period. 
Promotions and Transfers 
If you are promoted during
the Plan year, your target award or base earnings may change. If either of these do change, your award will be prorated as of the date of promotion or transfer based on the target award and base earnings of the corresponding periods. 
Termination 
No award is earned if you separate from the Company for any reason (other than
qualified leave of absence, disability, or death) before the completion of the fiscal performance period. 
Leave of Absence, Disability, Death 
If you take a leave of absence, suffer a permanent disability or die, your actual award will be prorated as of the date of leave, permanent disability or death based on the target
award and base earnings of the corresponding periods. 
An associate will be deemed to suffer a permanent disability only in the following circumstances: (A) where
an associate is absent from employment with American Greetings due to his or her inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment, which either can be expected to result in
death, or can be expected to last for a continuous period of not less than 12 months; or (B) where an associate is scheduled to receive income replacement benefits for a period of not less than 3 months under an accident and health plan covering an
American Greetings associate on account of a medically determinable physical or mental impairment that can be expected to result in death or last for a continuous period of not less than 12 months. 
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 Important Administrative Plan Details 
Incentive Award 
Incentive awards earned in fiscal year will be paid to participants within two
and one-half months following the end of the fiscal year, typically within 60 days after the end of the fiscal year. Plan awards are subject to normal tax withholding at a standardized rate and will be deposited to a bank account of your choice.

It is the intent that incentive awards either fall under the short-term deferral rules of Section 409A of the Internal Revenue Code to exempt the payment of such
Executive Incentive Plan benefits from the requirements of Section 409A or otherwise comply with the requirement of Section 409A. If incentive awards are subject to Section 409A, the Plan will be interpreted in accordance with Section 409A and the
regulations promulgated thereunder. 
Calculating Payouts 
For computation
purposes, financial goals and actual performance results are rounded to the nearest $1,000. The percent of the financial goal achieved and the percent of target award earned is rounded to the nearest one-tenth of one percent. The actual incentive
award is rounded to the nearest dollar. 
Questions 
If you have questions about
the Executive Incentive Plan and how it works, please contact your manager. Your manager will work with you to ensure you understand the Plan so you can maximize your annual award. 
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 Key Terms 
The following
provides definitions of some common terms used throughout this brochure. 
Base Earnings 
Your base earnings are defined as your base salary earned during the fiscal year. Base earnings exclude health and welfare benefits, bonus, commission, and incentive payments,
overtime and other direct or indirect compensation. Base earnings for Plan participants outside of the U.S. may be defined differently and may vary by country.

Corporate EBITDA 
The sum of the corporation’s earnings before interest,
taxes, depreciation, and amortization as calculated based on the consolidated statement of cash flows. 
Eligibility 
You are eligible to participate in the Executive Incentive Plan if you are a company executive in job class 319 or above. 
Fiscal Year 
March 1 through February 28 or 29 of the following calendar year. 
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 Nothing in this brochure or in any Participant Letter should be construed to create or imply any contract of
employment between an associate and American Greetings and its subsidiaries or to create any binding contractual right to payment of any specific amount under the American Greetings Executive Incentive Plan. The provisions of this brochure describe
the general guidelines used by American Greetings in determining the benefits payable to Plan participants; however, in every case, American Greetings reserves the right to reduce or eliminate the amount that would otherwise be payable to a
participant or participants under such guidelines where it determines, in its discretion, that such a reduction is necessary or appropriate, in light of the participant’s performance or other relevant business circumstances. In its capacity as
administrator of the Executive Incentive Plan, American Greetings reserves the right to construe and interpret the Plan in all respects and to make all determinations and take all actions necessary or advisable for the management and administration
of the Executive Incentive Plan, including establishing, adopting or revising any rules as it may deem necessary. 
Any award earned under this Executive Incentive
Plan shall be subject to rescission, cancellation or recoupment, in whole or part, if and to the extent so provided under any “clawback,” recoupment or similar policy of American Greetings in effect on the date of payment or that may be
established thereafter. Interest in any award under the Executive Incentive Plan may not be assigned, alienated or encumbered by any Plan participant. 
American
Greetings reserves the right to terminate or make changes to the Executive Incentive Plan, including retroactively, at any time without prior notice to any of the Executive Incentive Plan’s participants. The Board of Directors (or committee
thereof) are the only persons who have the authority to alter or amend this Plan. Any such alteration or amendment must be done in writing. No participant should rely on an alteration or amendment to this Plan unless it is made in writing and signed
by a Co-Chief Executive Officer or the Chairman. The Plan will be governed, construed and administered in accordance with the laws of the State of Ohio, without reference to its conflict of laws provisions. 
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 Notes 
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 AMERICAN GREETINGS