Document:

Letter Agreement and General Release dated July 11, 2008 (Randy Mason)

 EXHIBIT 10.1 
  
  
  
 July 15,
2008 
 Randy Mason 
 Dear Randy: 
 This Letter Agreement, together with Exhibit A (“General Release”) (attached) (collectively, the “Agreement”),
reflects our mutual agreement regarding the terms of your employment with American Greetings Corporation (together with its subsidiaries and affiliates referred to as “American Greetings”), as well as the terms of the separation of your
employment from American Greetings. 
 1.        Separation on February 28,
2009. You shall continue full-time employment with American Greetings through February 28, 2009 (the “Separation Date”), upon which date you shall voluntarily resign your employment. Until the Separation Date, you will continue to
receive: (i) salary payments at the annual base salary rate you are receiving as of the “Effective Date” of this Agreement (as defined in Section 18 below) (less applicable withholdings and deductions), paid in accordance with
American Greetings’ payroll practices in the ordinary course; and (ii) benefits at the level and of the type you are receiving as of the Effective Date. You will be eligible to participate in the American Greetings Key Management Incentive
Plan for American Greetings’ fiscal year ending on February 28, 2009, at the Senior Vice President level, at no less than a “Meets Expectations” rating with a 100% payout for purposes of the individual performance component of
such Plan, with any incentive earned paid in accordance with the terms and conditions of the Plan. 
 2.        Separation Prior to the Separation Date. At its sole discretion, American Greetings may terminate your employment for any reason, with or without cause, at any time prior to the
Separation Date. If you are terminated prior to the Separation Date for any reason other than for a breach of this Agreement as set forth in Sections 6 and 14 below, you will receive until the Separation Date: (i) salary payments at the annual
base salary rate you are receiving as of the Effective Date (less applicable withholdings and deductions), paid in accordance with American Greetings’ payroll practices in the ordinary course; and (ii) benefits at the level and of the type
you are receiving as of the Effective Date. You will also remain eligible to participate in the American Greetings Key Management Incentive Plan for American Greetings’ fiscal year ending on February 28, 2009, at the Senior Vice President
level, at no less than a “Meets Expectations” rating with a 100% payout for purposes of the individual performance component of such Plan, with 

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any incentive earned paid on a pro-rated basis based on: (i) the time you actually worked at American Greetings during the fiscal year ending on
February 28, 2009; and (ii) the amount of base salary actually paid to you during the fiscal year ending on February 28, 2009. In addition, you will be entitled to receive all other compensation and benefits described in this
Agreement. If you voluntarily resign your employment for any reason, with or without cause, at any time prior to the Separation Date, you will forfeit all remaining compensation and benefits described in this Agreement. 
 3.        Acknowledgment of Separation. You acknowledge and agree that as of the
Separation Date, or upon the date you are separated from employment if earlier than the Separation Date, you will cease to be an employee of American Greetings and that the only benefits you will receive from American Greetings are those described
in this Agreement; provided, however, that this Agreement does not waive any benefits you may be eligible to receive under American Greetings’ Supplemental Executive Retirement Plan, any stock option plan or agreement, deferred compensation
plan or agreement, or the Retirement Profit Sharing and Savings Plan. You acknowledge and agree that the benefits you will receive under this Agreement are intended by you and American Greetings to supersede all benefits payable to you upon
termination of employment described in your Employment Agreement dated March 1, 2001, or any other written or oral agreement, and that as of the Separation Date, your March 1, 2001 Employment Agreement and any other written or oral
agreement will no longer have any force and effect. You understand and acknowledge that as of the Separation Date, or upon the close of business on the date you are separated from employment if earlier than the Separation Date, you shall have no
authority or permission to hold yourself out as being in any way connected with or interested in the business of American Greetings or any of its subsidiaries and you will have no authority to take any action on behalf of or otherwise bind American
Greetings. 
 4.        Separation Benefits. Subject to the provisions of
Sections 6 and 14 of this Agreement, if you sign the General Release in the form attached as Exhibit A, and it becomes effective as explained in Section 19 below, you will receive the following payments and benefits in the manner and time
frames described in this Section 4. You acknowledge and agree that certain of the payments and benefits differ from and/or are greater than benefits you would otherwise be eligible to receive upon resignation, absent this Agreement. 

a.   Separation Pay. From the Separation Date through February 29, 2012, you will receive
salary payments at the annual base salary rate you are receiving as of the Effective Date (less applicable withholdings and deductions), paid in accordance with American Greetings’ payroll practices in the ordinary course. However, because you
are considered a specified employee pursuant to Section 409A of the Internal Revenue Code of 1986, as amended (“Code Section 409A”), the payments under this Section 4(a) are required to be delayed for a period of six months
following your termination of employment (“six-month period”). Therefore, the payment of any amounts due under this Section 4(a) during the first six months following your termination date will be accumulated, held and 

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distributed to you on the first day following the end of such six-month period. If you die during the six-month period, Section 7 below will apply.

 b.   Health Care. From the Separation Date through March 31, 2012, you (and your
spouse and covered dependents if any) will continue to receive medical and prescription drug coverage, concurrently with COBRA, in the plan in which you are enrolled at the Separation Date, at the Senior Vice President active employee payroll
deduction rate, as it may be changed from time-to-time. From the end of the COBRA continuation coverage period through March 31, 2012, any reimbursements provided under this Section 4(b) will occur no later than the end of the taxable year
following the taxable year in which such expense was incurred. In addition, the amounts eligible for reimbursement or the in-kind benefits provided during any one taxable year under this Section 4(b) may not affect the expenses eligible for
reimbursement or in-kind benefits to be provided in any other taxable year under this Section 4(b). 
 c.   American Greetings’ Car. You will have continued use of your current American Greetings’ car from the Separation Date through February 29, 2012, at which time you will return the car to American
Greetings. American Greetings will continue to make the lease payments and insure the car. If the car lease on your current American Greetings’ car expires prior to February 29, 2012, you will receive monthly payments equal to the amount
of the lease payment American Greetings currently pays per month for your American Greetings’ car. 
 d.   Life Insurance. You will continue your ownership interest in the executive life insurance policy provided by American Greetings in accordance with the terms and conditions of the policy. 
 e.   Stock Options. Stock options granted to you prior to the Separation Date will continue to both
vest and be exercisable through February 29, 2012, as if you were actively employed. All stock options not exercised as of February 29, 2012 will be forfeited. All other terms, conditions and/or restrictions of American Greetings’
stock option plan(s) or agreement are unaffected by this Section 4(e). 
 5.        Consulting Services. Following the Separation Date, American Greetings may, but has no obligation to, engage you from time to time, at its discretion, to perform consulting services
on dates that are mutually agreed upon. American Greetings will pay you $2,000 per day plus expenses for such consulting. 
 6.        Reasonable Cooperation. You acknowledge and agree that your agreement to fully cooperate with American Greetings with respect to the provisions of this Section 6 in its entirety
is a material term of this Agreement. The failure by you to cooperate fully with American Greetings in accordance with the provisions of this Section 6 is a material breach of the terms of this Agreement that will result in the forfeiture of
the compensation and benefits described in this Agreement as set forth in Section 14 below. 

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 a.   Transfer of job responsibilities. As directed
by the senior management of American Greetings or its subsidiaries, you shall fully cooperate in transferring to designated American Greetings employees all of your responsibilities and duties with regard to American Greetings’ business
operations. You specifically acknowledge and agree that you will use your best efforts before your termination of employment to accomplish the successful transition of all Wal-Mart activities to a new Wal-Mart Team leader who is selected at the sole
discretion of American Greetings. 
 b.   Fiduciary Obligations. You acknowledge and agree
that at all times until and through the Separation Date, you will carry out your duties in a manner consistent with and in compliance with all present and future requirements of: (i) applicable federal and state laws and regulations;
(ii) American Greetings’ policies and procedures; and (iii) the directives and instructions of American Greetings’ Chief Executive Officer, President and/or American Greetings’ Board of Directors. You acknowledge and fully
understand that you have a fiduciary relationship with American Greetings and, as a fiduciary, you are under an obligation to use due care and act in the best interest of American Greetings at all times. 
 c.   Legal matters. You agree to cooperate with American Greetings and its attorneys as may be
reasonably required concerning any past, present or future legal matters that relate to or arise out of your employment with American Greetings, with the understanding that any meetings you are required to attend are scheduled during normal business
hours at mutually agreeable times. You acknowledge that you have advised American Greetings’ General Counsel of all facts of which you are aware that constitute or might constitute violations of the American Greetings’ Code of Business
Conduct, ethical standards or legal obligations. During your lifetime, American Greetings agrees to reimburse you for any and all reasonable costs and expenses (including but not limited to reasonable attorneys’ fees) you may incur in
connection with such cooperation, with such reimbursement to occur no later than the end of the taxable year following the taxable year in which such expense was incurred. In addition, the amounts eligible for reimbursement during any one taxable
year under this Section 6(c) may not affect the expenses eligible for reimbursement in any other taxable year under this Section 6(c). 
 d.   Indemnification. You shall be indemnified for acts and omissions occurring on or prior to the Separation Date to the fullest extent permitted under applicable law. You shall
be covered under American Greetings’ directors’ and officers’ liability insurance policies in effect from time to time on the same basis that other former directors and officers are covered for acts and omissions occurring prior to
separation. 
 7.        Death. Notwithstanding anything to the contrary in
this Agreement, in the event of your death, American Greetings will pay to your beneficiary all remaining 

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compensation and benefits described in this Agreement subject to the terms and conditions set forth herein. Your beneficiary shall be deemed to be the person
or persons in the first of the following classes in which there are any survivors of you: (a) your spouse at the time of his death; (b) your issue per stirpes; (c) your parents; and (d) the executor or administrator of your
estate. 
 8.        Confidentiality of this Agreement. You agree to keep
confidential all terms of this Agreement that are not in the public domain at the time of your disclosure. You may, however, disclose the terms of this Agreement to your attorneys, accountants, tax advisors, and immediate family members (who must be
informed of and agree to be bound by the terms of this paragraph), and any governmental taxing authority. American Greetings reserves the right to disclose the terms of this Agreement to comply with any governmental or regulatory disclosure
obligation. 
 9.        Confidentiality & Non-Disclosure. You
acknowledge that you have an obligation of confidence and non-disclosure with respect to any and all confidential information and trade secrets that you acquired during the course of employment with American Greetings. This obligation of confidence
and non-disclosure extends to both American Greetings’ information and third-party information held by American Greetings in confidence, and this obligation continues after the Separation Date. You are prohibited from using or disclosing such
information. You agree that you will not accept or become employed or retained in any capacity whatsoever by any person or entity where such employment or other capacity requires you to disclose or use confidential information, or where such
employment or other capacity will, or may cause or reasonably lead to, the inevitable, necessary or effective disclosure or use of confidential information whether through express, implicit, indirect, intentional or unintentional means. You also
agree that you will return to American Greetings any and all American Greetings’ property and information that came into your possession, or which you prepared or helped prepare, in connection with or during your employment. You will not retain
any copies of such property or information. 
 10.        Non-Competition & Non-Solicitation. You acknowledge and agree that from the Separation Date through February 29, 2012, you will not enter into the employment or solicit
any American Greetings’ employee to enter into the employment, directly or indirectly or in a consulting or free lance capacity, of any person, firm or corporation in the United States, Canada or Mexico, which designs, manufactures or sells
products that are substantially similar in nature to the social expression products designed, manufactured or sold by American Greetings or any of its affiliated entities or subsidiaries; provided, however, that the period referred to above shall
lapse on the ninetieth (90th) day after the date that you give written notice to American Greetings that a payment due to you under this
Agreement is unpaid and remains unpaid on such ninetieth (90th) day. You agree that you have carefully considered the nature and extent of the
restrictions upon you and acknowledge and agree that the same are reasonable in time and geographic limitation, are designed to eliminate competition which would otherwise be unfair to American Greetings, do not stifle your inherent skill and
experience, would not operate as a bar to 

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your sole means of support, are fully required to protect the legitimate interests of American Greetings and do not confer a benefit upon American Greetings
disproportionate to the detriment to you. You also acknowledge and agree that the remedy at law available to American Greetings for breach by you of any of your obligations under Sections 9 and/or 10 of this Agreement would be inadequate and that
damages flowing from such a breach would not readily be susceptible to being measured in monetary terms. Accordingly, you acknowledge, consent and agree that, in addition to any other rights or remedies which American Greetings may have at law, in
equity or under this Agreement, upon adequate proof of your violation of any provision of Sections 9 and/or 10 of this Agreement, American Greetings will be entitled to immediate injunctive relief and may obtain a temporary order restraining any
threatened or further breach, without the necessity of proof of actual damage. 
 11.        Non-Disparagement. You agree not to disparage or denigrate American Greetings or its directors or executive officers orally or in writing. American Greetings agrees not to disparage
or denigrate you orally or in writing, and agrees to use its reasonable best efforts to cause its directors and executive officers not to disparage or denigrate you. Notwithstanding this mutual, non-disparagement provision, it shall not be a
violation of this Section 11 for any person to make truthful statements when required by order of a court or other body having jurisdiction, or as otherwise may be required by law. 
 12.        No Admission of Liability. This Agreement is not intended to constitute and
should not be construed as constituting an admission of fault, wrongdoing or liability by either party, but rather reflects the parties’ desire to fairly and amicably separate your employment, as well as to resolve fairly and amicably any
disputes or claims. 
 13.        Representations & Warranties. You
represent and warrant that you have no interest or obligation that is inconsistent with or in conflict with this Agreement or that would prevent, limit or impair your performance of any part of this Agreement. You represent that as of the date you
have signed this Agreement, you have not filed, directly or indirectly, nor caused to be filed, any Claims (as defined in the General Release) against American Greetings or the Releasees (as defined in the General Release) in any forum, including
federal, state or local court or in arbitration, any administrative proceeding with any federal, state or local administrative agency, or American Greetings’ dispute resolution procedure (“Solutions”). You agree that should any
administrative or third party pursue any claims on your behalf, you waive your right to any monetary or recovery of any kind. 
 14.        Breach of Agreement. You agree that in the event you breach any of the terms of this Agreement, you will forfeit the benefits described in this Agreement, plus you will pay any
expenses or damages incurred by American Greetings and/or its agents, officers, directors, employees, subsidiaries, divisions, affiliates, successors and assigns as a result of the breach, including reasonable attorneys’ fees. 
 15        Dispute Resolution. All disputes, claims, or controversies arising out of or in
connection with this Agreement, your employment or its termination, including but not limited to those concerning workplace discrimination and all other statutory claims, shall 

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exclusively be submitted to and determined by final and binding arbitration before a single arbitrator (“Arbitrator”) of the American Arbitration
Association (“AAA”) in accordance with the association’s then current rules for the resolution of employment disputes (“the Rules”). The Arbitrator shall be selected in accordance with the Rules. The parties consent to the
authority of the arbitrator, if the arbitrator so determines, to award fees and expenses (including legal fees) to the prevailing party in the arbitration. The following claims are not covered by the parties’ agreement to arbitrate claims under
this provision: (i) Claims you may have for workers’ compensation and unemployment compensation benefits; and (ii) claims by either party for injunctive and/or other equitable relief, including without limitation the enforcement of
Sections 9 and/or 10, as to which the parties understand and agree that either party may seek and obtain relief from a court of competent jurisdiction. You understand that the benefits set forth in this Agreement and your employment with American
Greetings through the Separation Date are consideration for your acceptance of this arbitration provision. In addition, the promises by American Greetings and by you to arbitrate claims, rather than litigate them before courts or other bodies,
provide consideration for each other. 
 16.        Entire Agreement. 
 a.   This Agreement constitutes the entire understanding between you and American Greetings relating to the subject matter
contained herein and this Agreement supersedes any previous agreement(s) that may have been made in connection with your employment with American Greetings. This Agreement may not be changed, modified, or altered without the express written consent
of you and a senior officer of American Greetings. 
 b.   American Greetings failure to insist upon strict
adherence to any term of this Agreement on any occasion shall not be considered a waiver of, or deprive American Greetings of its right thereafter to insist upon strict adherence to that term or any other term of this Agreement. To be effective, any
waiver must be in writing and signed by a senior officer of American Greetings. 
 17.        Governing Law. This Agreement shall be construed in accordance with the laws of the State of Ohio. If any part or section of this Agreement is found to be contrary to law or
unenforceable, the remainder shall remain in force and effect. Furthermore, it is expressly understood and agreed that if a final determination is made by a court of law that the time or any other restriction contained in Section 10 above is an
unenforceable restriction against you, then the provisions of Section 10 above shall not be rendered void but shall be deemed amended to apply as to such maximum time and to such other maximum extent as such court may determine or indicate to
be enforceable. Alternatively, if any such court finds that any restriction contained in Section 10 above is unenforceable, and such restriction cannot be amended so as to make it enforceable, such finding shall not affect the enforceability of
any other provision of this Agreement. 

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 18.        Voluntary Agreement.

 a.   You acknowledge and agree that (i) you have read and understand each of the provisions of this Letter
Agreement; ii) you have consulted with an attorney prior to signing this Letter Agreement; and iii) you have at least 21 calendar days from the date of this Letter Agreement to review and consider your decision to sign it. 
 b.   Once you sign this Agreement, you have 7 calendar days to revoke it. You may do so by delivering to American
Greetings’ Senior Vice President of Human Resources written notice of your revocation within the 7-day revocation period. This Agreement will become effective, valid and binding upon you on the 8th day after you sign it (the “Effective Date”), provided you have not revoked it during the 7-day revocation period. 
 19.        Voluntary General Release. 
 a.   You acknowledge and agree that i) you will not sign the General Release attached as Exhibit A to this Letter Agreement
until on or after the Separation Date; ii) you are hereby advised to consult with an attorney prior to signing the General Release; and iii) you have at least 21 calendar days from the date of this Letter Agreement to review and consider your
decision to sign the General Release. 
 b.   Once you sign the General Release, you will have 7 calendar days to
revoke it. You may do so by delivering to American Greetings’ Senior Vice President of Human Resources written notice of your revocation within the 7-day revocation period. The General Release will become effective on the 8th day after you sign it; provided you have not revoked it during the 7-day revocation period. 
 20.        Notices. All notices, requests and other communications under this Agreement
and the General Release will be in writing (including facsimile or similar writing) to the applicable address (or to such other address as to which notice is give in accordance with this Section 20). Any such notice, request or other
communication will be effective only when received by the receiving party. 
  

					
		 	If to you:	    	Randy Mason
			
		 	If to American Greetings:	    	American Greetings Corporation
		 		    	ATTN: Senior Vice President of Human Resources
		 		    	One American Road
		 		    	Cleveland, OH 44144

 21.        Transferability. This
Agreement shall be binding upon any successor to 

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 American Greetings, whether by merger, consolidation, purchase of assets or otherwise. No provision
of this Agreement is intended to confer any rights, benefits, remedies, obligations or liability hereunder upon any person or entity, other than the parties hereto and their respective successors and assigns, which in your case will include your
heirs and/or your estate. 
 22.        Counterparts. This Agreement may be
executed in counterparts. 
 23.        Code Section 409A Compliance. It
is the intention and purpose of American Greetings and me that this Agreement and all payments and benefits hereunder shall be, at all relevant times, in compliance with (or exempt from) Code Section 409A and all other applicable laws, and this
Agreement shall be so interpreted and administered. In addition to the general amendment rights of American Greetings and me with respect to this Agreement, American Greetings shall give good faith consideration to any reasonable request,
prospectively or retroactively, I make to amend to this Agreement or any related document as I deem necessary or desirable to more fully address issues in connection with compliance with (or exemption from) Code Section 409A and such other
laws. All references to “termination of employment” in this Agreement shall refer to events which constitute a “separation from service” as defined under Code Section 409A. 
 Signed and Agreed to on behalf of American Greetings Corporation, 
  

			
	 /s/Zev Weiss
	 	
	Zev Weiss, Chief Executive Officer	 	

 Attachment: Exhibit A (“General Release”) 

	cc:	Jeffrey Weiss, President and Chief Operating Officer 

 Catherine M. Kilbane, Senior Vice President, General Counsel and Secretary 
 Brian T. McGrath, Senior Vice President, Human
Resources 
 I ACKNOWLEDGE AND AGREE THAT I HAVE BEEN ADVISED THAT THIS AGREEMENT IS A LEGAL DOCUMENT, AND HAVE BEEN
ADVISED TO CONSULT WITH AN ATTORNEY CONCERNING THIS AGREEMENT. I ACKNOWLEDGE AND AGREE THAT I HAVE CAREFULLY READ AND FULLY UNDERSTAND ALL PROVISIONS OF THIS AGREEMENT, AND AM VOLUNTARILY AND KNOWINGLY SIGNING THE AGREEMENT. 
  

							
	 By:
	    	 /s/Randy Mason
	    	Date:	  	 7-15-08

		    	 Randy Mason
	    		  	

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 EXHIBIT A - GENERAL RELEASE 
 In exchange for the benefits set forth in the Letter Agreement between American Greetings Corporation (the “Company”) and me
dated July     , 2008 (the “Letter Agreement”) and to be provided to me following the Effective Date (as defined below) of this General Release and my execution (without revocation) and delivery of this General
Release, I hereby acknowledge, understand and agree as follows: 
 1.        On
behalf of myself, my agents, assignees, attorneys, heirs, executors, and administrators, I hereby release American Greetings Corporation, and its predecessors, successors and assigns, its and their current and former parents, affiliates,
subsidiaries, divisions and joint ventures; and all of their current and former officers, directors, employees, and agents, in their capacity as American Greetings Corporation representatives (individually and collectively, the
“Releasees”) from any and all controversies, claims, demands, promises, actions, suits, grievances, proceedings, complaints, charges, liabilities, damages, debts, taxes, allowances, and remedies of any type, including but not limited to
those arising out of my employment with the Company (individually and collectively, “Claims”) that I may have by reason of any matter, cause, act or omission. This release applies to Claims that I know about and those I may not know about
occurring at any time on or before the date of execution of this General Release. 
 2.        This General Release includes a release of all rights and Claims under, as amended, Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act of 1967, the
Rehabilitation Act of 1973, the Civil Rights Acts of 1866 and 1991, the American with Disabilities Act of 1990, the Employee Retirement Income Security Act of 1974, the Equal Pay Act of 1963, the Family and Medical Leave Act of 1993, the Fair Labor
Standards Act of 1938, the Older Workers Benefit Protection Act of 1990, the Occupational Safety and Health Act of 1970, the Worker Adjustment and Retraining Notification Act of 1989, the Sarbanes-Oxley Act of 2002, as well as any other federal,
state, or local statute, regulation or common law regarding employment discrimination, termination, retaliation, equal opportunity, or wage and hour. I specifically understand that I am releasing Claims based on age, race, color, sex, sexual
orientation or preference, marital status, religion, national original, citizenship, veteran status, disability and other legally protected categories. 
 3.        This General Release also includes a release of any Claims for breach of contract, any tortious act or other civil wrong, attorneys’ fees, and all compensation
and benefits claims including without limitation Claims concerning salary, bonus, and any award(s) grant(s), or purchase(s) under any equity and incentive compensation plan or program, and separation pay under the Company’s severance policy.

 4.        In addition, I am waiving my right to pursue any Claims against the
Company and Releasees under any applicable dispute resolution procedure including any arbitration policy. 

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 5.        I acknowledge that this General
Release is intended to include, without limitation, all Claims known or unknown that I have or may have against the Company and Releasees through the Effective Date of this General Release. Notwithstanding anything herein, I expressly reserve and do
not release pursuant to this General Release (and the definition of “Claims” will not include): (i) my rights with respect to the enforcement of the Letter Agreement, including the right to receive the benefits and indemnifications
specified in the Letter Agreement; (ii) my rights to the vested benefits (included to reimbursement of expenses) I may have, if any, under any American Greetings’ employee benefit plans and programs; (iii) any claim arising after the
Effective Date of this General Release; and (iv) any right to indemnification pursuant to paragraph 6(d) of the Letter Agreement to the same extent provided to other senior executives of the Company. 
 6.        I acknowledge that I have had at least 21 calendar days from the date of delivery of
the Letter Agreement to consider the terms of the Letter Agreement and this General Release, that I have been advised to consult with an attorney regarding the terms of this General Release prior to executing it, that I fully understand all of the
terms and conditions of this General Release, that I understand that nothing contained herein contains a waiver of claims arising after the date of execution of this General Release, and I am entering into this General Release knowingly, voluntarily
and of my own free will. I further understand that my failure to sign this General Release and return such signed General Release to the Senior Vice President of Human Resources, American Greetings Corporation, One American Road, Cleveland, Ohio
44144 by 5:00 p.m. on the 22nd day after the Separation Date will render me ineligible for the benefits described herein in the Agreement.

 7.        I understand that once I sign and return this General Release to the
Senior Vice President of Human Resources of American Greetings Corporation, I have 7 calendar days to revoke it. I may do so by delivering to the Senior Vice President of Human Resources, American Greetings Corporation, One American Road, Cleveland,
Ohio 44144, written notice of my revocation within the 7-day revocation period (the “Revocation Period”). The General Release will become effective on the 8th day after I sign and return it to the Senior Vice President of Human Resources of American Greetings Corporation (“Effective Date”); provided that I have not revoked it during the Revocation Period.

 I ACKNOWLEDGE AND AGREE THAT I HAVE BEEN ADVISED THAT THE AGREEMENT IS A LEGAL DOCUMENT, AND HAVE BEEN ADVISED TO
CONSULT WITH AN ATTORNEY CONCERNING THE AGREEMENT. I ACKNOWLEDGE AND AGREE THAT I HAVE CAREFULLY READ AND FULLY UNDERSTAND ALL PROVISIONS OF THIS AGREEMENT, AND AM VOLUNTARILY AND KNOWINGLY SIGNING THE AGREEMENT. 
  

									
	By:	    	  
	 	Date:	 	  
	 	
		    	Randy MasonAmendment No. 5 to Credit Agreement, dated April 4, 2006

 EXHIBIT 10.2 
 AMENDMENT NO. 5 TO CREDIT AGREEMENT 
 This AMENDMENT NO. 5 TO CREDIT AGREEMENT (this
“Amendment”) is entered into as of September 23, 2008, by and among the following: (i) AMERICAN GREETINGS CORPORATION, an Ohio corporation (the “Company”); (ii) the Lenders, as defined in the
Credit Agreement, signatory hereto; and (iii) NATIONAL CITY BANK, as Global Agent, as defined in the Credit Agreement. 
 RECITALS:

 A.    The Company has entered into the Credit Agreement, dated as of April 4, 2006 (as
amended and as the same may from time to time be further amended, restated, supplemented or otherwise modified, the “Credit Agreement”), with the Foreign Subsidiary Borrowers (as defined therein) from time to time party thereto, the
Lenders from time to time party thereto, National City Bank, as the Global Agent, joint lead arranger, joint bookrunner, Swing Line Lender and LC Issuer, UBS Securities LLC, as joint lead arranger, joint bookrunner and Syndication Agent, and KeyBank
National Association, JPMorgan Chase Bank, N.A., and LaSalle Bank National Association, as Co-Documentation Agents. 
 B.    The Company has requested the Global Agent and the Lenders to agree to amend certain provisions of the Credit Agreement and consent to certain transactions, as set forth herein. 
 C.    The Global Agent and the Lenders signatory hereto are willing to give such consents and agree to such
amendments pursuant to the terms and subject to the conditions set forth herein. 
 AGREEMENT: 
 In consideration of the premises and mutual covenants herein and for other valuable consideration, the parties hereto agree as follows:

 Section 1. Definitions.    Unless otherwise defined herein, each capitalized term used in this
Amendment and not defined herein shall have such meaning ascribed to it in the Credit Agreement. 
 Section 2.
Consents. 
 2.1    Consent to Sale. The Company has advised the Global Agent and the
Lenders that the Company would like to sell its Strawberry Shortcake, Care Bears and Sushi Pack properties (the “Properties”). In connection therewith, on July 20, 2008, the Company entered into an agreement (the
“Cookie Jar Agreement”) with Cookie Jar Entertainment Inc. (“Cookie Jar”) pursuant to which the Company agreed to sell the Properties to Cookie Jar. The terms of the Cookie Jar Purchase Agreement provide that under
certain circumstances the Company may solicit offers from third parties to purchase the Properties. The consummation of the sale of the Properties, whether consummated with Cookie Jar or such other third party (the “Sale
Transaction”), is prohibited by certain provisions of the Credit Agreement, including, without limitation, Section 7.02 of the Credit Agreement, and the Company has requested that the Global Agent and the Lenders consent to the Sale
Transaction, whether pursuant to the Cookie Jar Purchase Agreement or otherwise. The Global Agent and the Lenders hereby (i) consent to the Sale Transaction, whether pursuant to the Cookie Jar Purchase Agreement or a sale of the Properties to
another Person, and (ii) waive any provision in the Credit Agreement and the other Loan Documents that prohibits the consummation of the Sale Transaction, in each case subject to, and based upon, the following terms and conditions: 

 (a)    the final and definitive agreement governing the Sale
Transaction (the “Purchase and Sale Agreement”), and all material documents related thereto, shall have been provided to the Global Agent at least five days (or such shorter time agreed to by the Global Agent) prior to the
consummation of the Sale Transaction and such documents shall be in form and substance reasonably satisfactory to the Global Agent; 
 (b)    the consummation of the Sale Transaction pursuant to the Purchase and Sale Agreement shall have been approved by the Board of Directors of the Company; 
 (c)    the consideration for the Sale Transaction represents fair value for the Properties and at least 80% of such
consideration consists of cash; 
 (d)    no Default or Event of Default shall exist prior to or
immediately after giving effect to the Sale Transaction and the terms of this Amendment; 
 (e)    after
giving effect to the Sale Transaction, the Company shall be in compliance, on a pro forma basis, with the financial covenants contained in Section 7.07 of the Credit Agreement; 
 (f)    the Company shall have delivered on the date the Sale Transaction is consummated an officer’s certificate
executed on behalf of the Company, which certificate shall contain a certification (i) confirming satisfaction of the conditions set forth in each of paragraphs (c), (d) and (e) of this Section 2.1 and (ii) that attached
thereto are true, correct and complete copies of the Purchase and Sale Agreement and all material documents related thereto; and 
 (g)    the Company shall use the Net Cash Proceeds received from the Sale Transaction in accordance with Section 2.16(c)(vi) of the Credit Agreement. 
 2.2    Consent to Amendment to Receivables Facility Documents. The Company has advised the Global Agent and
the Lenders that the parties to the Receivables Facility Documents, including the Receivables Subsidiary, may amend the Receivables Facility Documents (the “Receivables Facility Amendment”) to permit the Receivables Subsidiary to
sell or transfer certain Account Receivables (as defined in the definition of Receivables Related Assets in Section 1.01 of the Credit Agreement) to third parties in connection with receivables put options, credit default swaps, credit
insurance arrangements or other transactions pursuant to which the Receivables Subsidiary hedges credit risk related to account debtors under certain Account Receivables. The Receivables Facility Amendment is prohibited by Section 7.09 of the
Credit Agreement without the prior written consent of the Required Lenders or the Global Agent, as applicable, and the Company has requested that the Lenders and the Global Agent consent to the Receivables Facility Amendment. The Global Agent and
the Lenders hereby consent to the Receivables Facility Amendment subject to, and based upon, the following terms and conditions: 
 (a)    the Receivables Facility Amendment and all material documents related thereto shall be in form and substance reasonably satisfactory to the Global Agent; and 
 (b)    the Company shall have delivered on the date the Receivables Facility Amendment is executed an officer’s
certificate on behalf of the Company, which certificate shall contain a certification that attached thereto are true, correct and complete copies of the Receivables Facility Amendment and all material documents related thereto. 
  

 2 

 Section 3. Amendments. 
 3.1    Additional Definition. Section 1.01 of the Credit Agreement is hereby amended by inserting the
following definition in appropriate alphabetical order: 
 “Fifth Amendment” means that certain
Amendment No. 5 to Credit Agreement dated as of September 23, 2008, among the Company, the Subsidiary Guarantors, the Lenders party thereto and the Global Agent. 
 3.2    Amendment to Permitted Acquisition Definition. The definition of “Permitted Acquisition” set forth in Section 1.01 of the Credit Agreement is
hereby amended by replacing the words “the Closing Date” in clause (ii) thereof with “September 23, 2008”. 
 3.3    Amendment to Aggregate Permitted Acquisition Amount and Permitted Acquisition Amount Definitions. The definition of “Aggregate Permitted Acquisition Amount” set forth in Section 1.01 of the
Credit Agreement is hereby amended by replacing “$200,000,000” with “$325,000,000”. The definition of “Permitted Acquisition Amount” set forth in Section 1.01 of the Credit Agreement is hereby amended by replacing
“$200,000,000” with “$325,000,000”. 
 3.4    Amendment to Negative Covenant on
Asset Sales. Section 7.02 of the Credit Agreement is hereby amended by (i) deleting the word “and” at the end of clause (e) thereof, (ii) replacing the period at the end of clause (f) thereof with “;
and” and (iii) inserting the following clause (g) after clause (f) thereof: 
 (g)    the Receivables Subsidiary may sell or transfer Account Receivables to any Person (other than the Company or any of the Company’s Subsidiaries or Affiliates) in connection with any receivables put option,
credit default swap, credit insurance arrangement or other transaction pursuant to which the Receivables Subsidiary hedges credit risk related to account debtors under certain Account Receivables, provided that (i) no obligation of the
Receivables Subsidiary in connection with such transaction shall be guaranteed by the Company or any Subsidiary of the Company, and (ii) there shall be no recourse to or obligation of the Company or any Subsidiary of the Company (other than the
Receivables Subsidiary) whatsoever in connection with such transaction other than pursuant to customary representations, warranties, covenants and indemnities entered into in connection with such put option, credit default swap, credit insurance
arrangement or other transaction. 
 3.5    Amendment to Negative Covenant on Liens.
Section 7.03 of the Credit Agreement is hereby amended by (i) deleting the word “or” at the end of clause (f) thereof, (ii) replacing the period at the end of clause (g) thereof with “; or” and
(iii) inserting the following clause (h) after clause (g) thereof: 
 (h)    Liens in favor of a Person (other than the Company or any of the Company’s Subsidiaries or Affiliates) on intellectual property and other tangible or intangible video digital or entertainment assets of the
Company or any of its Subsidiaries produced, manufactured, developed, marketed or otherwise distributed by such Person, provided that (i) such Liens do not secure Indebtedness and (ii) in any twelve month period, the Company or any
of the Company’s Subsidiaries may grant such Liens, provided that the aggregate book value of the assets subject to such Liens granted in such twelve month period shall not exceed $20,000,000, and provided further, that in connection
with any such Lien, the Collateral Agent may enter into agreements on behalf of the Collateral Agent and the Secured Creditors (which agreements shall be in form and 

  

 3 

 
substance satisfactory to the Collateral Agent) regarding the relative priority of such Lien and the Liens created under the Loan Documents and/or the
subordination or impairment of any rights and remedies of the Collateral Agent and the Secured Creditors in respect of the assets subject to such Lien (including without limitation, subordinating the Liens in favor of the Global Agent for the
benefit of the Secured Creditors with respect to such assets in favor of such Person). 
 3.6    Amendment to Negative Covenant on Investments. Section 7.05 of the Credit Agreement is hereby amended by (i) deleting the word “and” at the end of clause (q) thereof,
(ii) replacing the period at the end of clause (q) thereof with “; and” and (iii) inserting the following clause (r) after clause (q) thereof: 
 (r)    the non-cash portion of consideration received in connection with the Sale Transaction (as
defined in the Fifth Amendment) or transactions permitted pursuant to Section 7.02(f). 
 Section 4.
Effectiveness. This Amendment shall become effective as of the date hereof, if on or before the date hereof, the following conditions precedent have been satisfied: 
 (a)    this Amendment shall have been executed by the Company, the Subsidiary Guarantors, the Required Lenders and the Global Agent, and counterparts hereof as so executed
shall have been delivered to the Global Agent; and 
 (b)    the Company shall have executed and
delivered to the Global Agent such other agreements, instruments and other documents as the Global Agent may reasonably request. 
 Upon the satisfaction of the foregoing conditions precedent, this Amendment shall be binding upon and inure to the benefit of the Company, each Lender and the Global Agent and their respective permitted successors and assigns. After this
Amendment becomes effective, the Global Agent shall furnish a copy of this Amendment to each Lender and the Company. 
 Section 5. Miscellaneous. 
 5.1    Representations and Warranties. 
 (a)    Each Credit Party, by signing below, hereby represents and warrants to the Global Agent and the Lenders that:

 (i)    such Credit Party has the legal power and authority to execute and deliver this
Amendment; 
 (ii)    the officers executing this Amendment on behalf of such Credit
Party have been duly authorized to execute and deliver the same and bind such Credit Party with respect to the provisions hereof; 
 (iii)    the execution and delivery hereof by such Credit Party and the performance and observance by such Credit Party of the provisions hereof do not violate or conflict with the Organizational
Documents of such Credit Party or any law applicable to such Credit Party or result in a breach of any provision of or constitute a default under any other agreement, instrument or document binding upon or enforceable against such Credit Party;

  

 4 

 (iv)    no Default or Event of Default exists under
the Credit Agreement, nor will any occur immediately after the execution and delivery of this Amendment or by the performance or observance of any provision hereof; and 
 (v)    upon the execution and delivery of this Amendment by such Credit Party, this Amendment shall
constitute a valid and binding obligation of such Credit Party in every respect, enforceable in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency or other similar laws of general application
affecting the enforcement of creditors’ rights or by general principles of equity limiting the availability of equitable remedies. 
 (b)    The Company, by signing below, hereby represents and warrants to the Global Agent and the Lenders that each of the representations and warranties set forth in Article V of the Credit
Agreement is true and correct in all material respects as of the date hereof, except to the extent that any thereof expressly relate to an earlier date. 
 5.2    Waiver of Claims. Each Credit Party hereby waives and releases the Global Agent, the Collateral Agent, and each of the Lenders and their respective directors, officers, employees,
attorneys, affiliates and subsidiaries from any and all claims, offsets, defenses and counterclaims of which any Credit Party is aware arising out of or relating to the Credit Agreement and/or the other Loan Documents, such waiver and release being
with full knowledge and understanding of the circumstances and effect thereof and after having consulted legal counsel with respect thereto. 
 5.3    Expenses. As provided in the Credit Agreement, but without limiting any terms or provisions thereof, the Company agrees to pay on demand all reasonable costs and expenses incurred by
the Global Agent in connection with the preparation, negotiation, and execution of this Amendment, including without limitation the reasonable costs and fees of the Global Agent’s special legal counsel, regardless of whether this Amendment
becomes effective in accordance with the terms hereof, and all costs and expenses incurred by the Global Agent, the Collateral Agent or any Lender in connection with the enforcement or preservation of any rights under the Credit Agreement, as
amended hereby. 
 5.4    Agreements Unaffected. Each reference to the Credit Agreement herein or
in any other Loan Document shall hereafter be construed as a reference to the Credit Agreement as amended hereby. Except as herein otherwise specifically provided, all provisions of the Credit Agreement shall remain in full force and effect and be
unaffected hereby. This Amendment is a Loan Document. 
 5.5    Entire Agreement. This Amendment,
together with the Credit Agreement and the other Loan Documents, integrates all the terms and conditions mentioned herein or incidental hereto and supersedes all oral representations and negotiations and prior writings with respect to the subject
matter hereof. 
 5.6    Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts and may be delivered by facsimile or electronic transmission, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall
constitute but one and the same agreement. 
 5.7    Governing Law. THIS AMENDMENT AND THE OTHER
LOAN DOCUMENTS AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK. TO THE FULLEST EXTENT PERMITTED BY LAW, EACH CREDIT PARTY HEREBY
UNCONDITIONALLY AND IRREVOCABLY WAIVES ANY CLAIM TO 

  

 5 

 
ASSERT THAT THE LAW OF ANY JURISDICTION OTHER THAN THE STATE OF NEW YORK GOVERNS THIS AMENDMENT OR ANY OF THE OTHER LOAN DOCUMENTS. 
 5.8    JURY TRIAL WAIVER. EACH OF THE PARTIES TO THIS AMENDMENT HEREBY IRREVOCABLY WAIVES ALL RIGHT
TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AMENDMENT OR ANY OF THE OTHER LOAN DOCUMENTS (INCLUDING, WITHOUT LIMITATION, ANY AMENDMENTS, WAIVERS OR OTHER MODIFICATIONS RELATING TO ANY OF THE
FOREGOING), OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 
 [Signature pages follow.] 
  

 6 

 IN WITNESS WHEREOF, this Amendment has been duly executed and delivered as of the date
first above written. 
  

					
	 AMERICAN GREETINGS CORPORATION

		
	By: 	 	 /s/ Gregory M. Steinberg

		 	 Name:
	 	 Gregory M. Steinberg

		 	 Title:
	 	 Treasurer

  

					
	NATIONAL CITY BANK,
	 as the Global Agent, the Collateral Agent, the Swing Line Lender, a LC Issuer, and a Lender

		
	By: 	 	 /s/ Robert S. Coleman

		 	 Name:
	 	 Robert S. Coleman

		 	 Title:
	 	 Senior Vice President

 Signature Page 
 to 
 Amendment No. 5 to Credit Agreement 
 by and among American Greetings Corporation, the Subsidiary Guarantors, 
 National City
Bank, as the Global Agent, and 
 the Lenders party thereto 
  

											
	Name of Institution:	 		 	 National City Bank

				
		 		 	By: 	 	 /s/ Robert S. Coleman

		 		 		 		 	 Name: 
	 	 Robert S. Coleman

		 		 		 		 	 Title:
	 	 Senior Vice President

 Signature Page 
 to 
 Amendment No. 5 to Credit Agreement 
 by and among American Greetings Corporation, the Subsidiary Guarantors, 
 National City
Bank, as the Global Agent, and 
 the Lenders party thereto 
  

											
	Name of Institution:	 		 	 The Governor and Company
 of the Bank of Ireland

				
		 		 	By: 	 	 /s/ Elaine Crowley

		 		 		 		 	 Name: 
	 	 Elaine Crowley

		 		 		 		 	 Title:
	 	 Authorised Signatory

				
		 		 	By: 	 	 /s/ Emer Dalton

		 		 		 		 	 Name: 
	 	 Emer Dalton

		 		 		 		 	 Title:
	 	 Authorised Signatory

 Signature Page 
 to 
 Amendment No. 5 to Credit Agreement 
 by and among American Greetings Corporation, the Subsidiary Guarantors, 
 National City
Bank, as the Global Agent, and 
 the Lenders party thereto 
  

											
	Name of Institution:	 		 	 The Bank of New York Mellon

				
		 		 	By: 	 	 /s/ Mark F. Johnston

		 		 		 		 	 Name: 
	 	 Mark F. Johnston

		 		 		 		 	 Title:
	 	 Vice President

 Signature Page 
 to 
 Amendment No. 5 to Credit Agreement 
 by and among American Greetings Corporation, the Subsidiary Guarantors, 
 National City
Bank, as the Global Agent, and 
 the Lenders party thereto 
  

											
	Name of Institution:	 		 	 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., 
 as a Lender

				
		 		 	By: 	 	 /s/ Victor Pierzchalski

		 		 		 		 	 Name: 
	 	 Victor Pierzchalski

		 		 		 		 	 Title:
	 	 Authorized Signatory

 Signature Page 
 to 
 Amendment No. 5 to Credit Agreement 
 by and among American Greetings Corporation, the Subsidiary Guarantors, 
 National City
Bank, as the Global Agent, and 
 the Lenders party thereto 
  

											
	Name of Institution:	 		 	 Barclays Bank PLC

				
		 		 	By: 	 	 /s/ Vincent Muldoon

		 		 		 		 	 Name: 
	 	 Vincent Muldoon

		 		 		 		 	 Title:
	 	 Director MCT – North America

 Signature Page 
 to 
 Amendment No. 5 to Credit Agreement 
 by and among American Greetings Corporation, the Subsidiary Guarantors, 
 National City
Bank, as the Global Agent, and 
 the Lenders party thereto 
  

											
	Name of Institution:	 		 	 FIFTH THIRD BANK

				
		 		 	By: 	 	 /s/ Roy C. Lanctot

		 		 		 		 	 Name: 
	 	 Roy C. Lanctot

		 		 		 		 	 Title:
	 	 Vice President

 Signature Page 
 to 
 Amendment No. 5 to Credit Agreement 
 by and among American Greetings Corporation, the Subsidiary Guarantors, 
 National City
Bank, as the Global Agent, and 
 the Lenders party thereto 
  

											
	Name of Institution:	 		 	 HSBC Bank USA, National Association

				
		 		 	By: 	 	 /s/ Robert J. McArdle

		 		 		 		 	 Name: 
	 	 Robert J. McArdle

		 		 		 		 	 Title:
	 	 First Vice President

 Signature Page 
 to 
 Amendment No. 5 to Credit Agreement 
 by and among American Greetings Corporation, the Subsidiary Guarantors, 
 National City
Bank, as the Global Agent, and 
 the Lenders party thereto 
  

											
	Name of Institution:	 		 	 JP Morgan Chase Bank, N.A.

				
		 		 	By: 	 	 /s/ Gregory T. Martin

		 		 		 		 	 Name: 
	 	 Gregory T. Martin

		 		 		 		 	 Title:
	 	 Vice President

 Signature Page 
 to 
 Amendment No. 5 to Credit Agreement 
 by and among American Greetings Corporation, the Subsidiary Guarantors, 
 National City
Bank, as the Global Agent, and 
 the Lenders party thereto 
  

											
	Name of Institution:	 		 	 KeyBank National Association

				
		 		 	By: 	 	 /s/ Marianne T. Meil

		 		 		 		 	 Name: 
	 	 Marianne T. Meil

		 		 		 		 	 Title:
	 	 Senior Vice President

 Signature Page 
 to 
 Amendment No. 5 to Credit Agreement 
 by and among American Greetings Corporation, the Subsidiary Guarantors, 
 National City
Bank, as the Global Agent, and 
 the Lenders party thereto 
  

											
	Name of Institution:	 		 	 LASALLE BANK NATIONAL ASSOCIATION,
 as a Lender

				
		 		 	By: 	 	 /s/ Beth A. Henry

		 		 		 		 	 Name: 
	 	 Beth A. Henry

		 		 		 		 	 Title:
	 	 AVP

 Signature Page 
 to 
 Amendment No. 5 to Credit Agreement 
 by and among American Greetings Corporation, the Subsidiary Guarantors, 
 National City
Bank, as the Global Agent, and 
 the Lenders party thereto 
  

											
	Name of Institution:	 		 	 The Northern Trust Company

				
		 		 	By: 	 	 /s/ Jeffrey P. Sullivan

		 		 		 		 	 Name: 
	 	 Jeffrey P. Sullivan

		 		 		 		 	 Title:
	 	 Vice President

 Signature Page 
 to 
 Amendment No. 5 to Credit Agreement 
 by and among American Greetings Corporation, the Subsidiary Guarantors, 
 National City
Bank, as the Global Agent, and 
 the Lenders party thereto 
  

											
	Name of Institution:	 		 	 PNC Bank, N.A.

				
		 		 	By: 	 	 /s/ Patrick Flaherty

		 		 		 		 	 Name: 
	 	 Patrick Flaherty

		 		 		 		 	 Title:
	 	 Assistant Vice President

 Signature Page 
 to 
 Amendment No. 5 to Credit Agreement 
 by and among American Greetings Corporation, the Subsidiary Guarantors, 
 National City
Bank, as the Global Agent, and 
 the Lenders party thereto 
  

											
	Name of Institution:	 		 	 RBS CITIZENS, N.A.

				
		 		 	By: 	 	 /s/ Brian H. Gallagher

		 		 		 		 	 Name: 
	 	 Brian H. Gallagher

		 		 		 		 	 Title:
	 	 Vice President

 Signature Page 
 to 
 Amendment No. 5 to Credit Agreement 
 by and among American Greetings Corporation, the Subsidiary Guarantors, 
 National City
Bank, as the Global Agent, and 
 the Lenders party thereto 
  

											
	Name of Institution:	 		 	 UBS Loan Finance LLC

				
		 		 	By: 	 	 /s/ David B. Julie

		 		 		 		 	 Name: 
	 	 David B. Julie

		 		 		 		 	 Title:
	 	 Associate Director

		 		 		 		 		 	Banking Products
		 		 		 		 		 	Services, US
		 		 	
				
		 		 	By: 	 	 /s/ Irja R. Otsa

		 		 		 		 	 Name: 
	 	 Irja R. Otsa

		 		 		 		 	 Title:
	 	 Associate Director

		 		 		 		 		 	Banking Products
		 		 		 		 		 	Services, US

 Signature Page 
 to 
 Amendment No. 5 to Credit Agreement 
 by and among American Greetings Corporation, the Subsidiary Guarantors, 
 National City
Bank, as the Global Agent, and 
 the Lenders party thereto 
  

											
	Name of Institution:	 		 	 Scotiabanc Inc.

				
		 		 	By: 	 	 /s/ J.F. Todd

		 		 		 		 	 Name: 
	 	 J.F. Todd

		 		 		 		 	 Title:
	 	 Managing Director

 Signature Page 
 to 
 Amendment No. 5 to Credit Agreement 
 by and among American Greetings Corporation, the Subsidiary Guarantors, 
 National City
Bank, as the Global Agent, and 
 the Lenders party thereto 
  

											
	Name of Institution:	 		 	 The Bank of Nova Scotia

				
		 		 	By: 	 	 /s/ Paula Czach

		 		 		 		 	 Name: 
	 	 Paula Czach

		 		 		 		 	 Title:
	 	 Director

 GUARANTOR ACKNOWLEDGMENT AND AGREEMENT 
 Each of the undersigned consents and agrees to and acknowledges the terms of the foregoing Amendment No. 5 to Credit Agreement,
dated as of September 23, 2008 (the “Amendment”). Each of the undersigned further agrees that the obligations of each of the undersigned pursuant to the Subsidiary Guaranty executed by each of the undersigned shall remain in
full force and effect and be unaffected hereby. Unless otherwise defined herein, each capitalized term used in the Amendment and not defined herein shall have such meaning ascribed to it in the Credit Agreement (as defined in the Amendment).

 Each of the undersigned, by signing below, hereby waives and releases the Global Agent, the Collateral Agent, and each of
the Lenders and their respective directors, officers, employees, attorneys, affiliates and subsidiaries from any and all claims, offsets, defenses and counterclaims of which any of the undersigned is aware arising out of or relating to the
Subsidiary Guaranty and the other Loan Documents, such waiver and release being with full knowledge and understanding of the circumstances and effect thereof and after having consulted legal counsel with respect thereto. 
 EACH OF THE UNDERSIGNED HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT
OF OR RELATING TO THE AMENDMENT, THIS GUARANTOR ACKNOWLEDGMENT AND AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS (INCLUDING, WITHOUT LIMITATION, ANY AMENDMENTS, WAIVERS OR OTHER MODIFICATIONS RELATING TO ANY OF THE FOREGOING), OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY. 
 [Signature page follows.] 

 IN WITNESS WHEREOF, each of the undersigned has executed this Guarantor Acknowledgment
and Agreement as of September 23, 2008. 
  

											
		 		 	 AGC, LLC
 A.G. INDUSTRIES, INC.
 AG INTERACTIVE, INC.
 AGP KIDS, INC.
 CARLTON CARDS RETAIL, INC.
 CLOUDCO, INC.
 CREATACARD, INC.
 CREATACARD INTERNATIONAL
                 LEASING, INC.
 CUSTOM HOLDINGS, INC.

 JOHN SANDS (AUSTRALIA) LTD.
 JOHN SANDS (N.Z.) LTD.
 JOHN SANDS HOLDING CORP.
 LAKESHORE HOLDING COMPANY
 LAKESHORE TRADING COMPANY
 PLUS MARK, INC.
 QUALITY GREETING CARD
                 DISTRIBUTING COMPANY, INC.
 THOSE CHARACTERS FROM
                 CLEVELAND, INC.

				
		 		 	By: 	 	 /s/ Gregory M. Steinberg

		 		 		 		 	 Name: 
	 	 Gregory M. Steinberg

		 		 		 		 	 Title:
	 	 Treasurer of each of the foregoing

			
		 		 	 AGCM, INC.
 AG.COM, INC.
 EGREETINGS NETWORK, INC.
 MIDIRINGTONES, LLC
 PHOTOWORKS, INC.

				
		 		 	By: 	 	 /s/ Gregory M. Steinberg

		 		 		 		 	 Name: 
	 	 Gregory M. Steinberg

		 		 		 		 	 Title:
	 	 Assistant Treasurer of each of the foregoing

			
		 		 	 A.G.C. INVESTMENTS, INC.
 A.G. EUROPE, INC.

 A.G. (UK), INC.
 AGC HOLDINGS, LLC
 MEMPHIS PROPERTY CORPORATION

				
		 		 	By: 	 	 /s/ Gregory M. Steinberg

		 		 		 		 	 Name: 
	 	 Gregory M. Steinberg

		 		 		 		 	 Title:
	 	 Vice President and Treasurer of each of the
 foregoing

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