Document:

Separation and Release Agreement between Lumber Liquidators Services, LLC

 Exhibit 10.1 
 SEPARATION AND RELEASE AGREEMENT 
 This Separation and Release
Agreement (“Agreement”), dated June 22, 2012, by and between Lumber Liquidators Services, LLC (“LLS”) and Seth P. Levy (“Employee”) states as follows: 

RECITALS: 
 WHEREAS, Employee has been employed by LLS and/or its affiliated entities (collectively, “Company”) as Chief Information Officer and Senior Vice President, Information Technology, and;

 WHEREAS, the parties to this Agreement desire to resolve the issues arising out of the cessation of Employee’s
employment with Company in a mutually satisfactory manner, confidentially, and without resort to litigation. 

AGREEMENT: 
 NOW, THEREFORE, in consideration of the promises and of the mutual covenants herein contained and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties do hereby covenant and agree as follows: 
 1. Termination of Employment; Separation Benefits. 

A. Employee’s employment will terminate effective June 22, 2012 (the “Termination Date”). 

B. In consideration of Employee’s acceptance of this Agreement, Company shall pay to Employee twenty-four (24) weeks of pay at
Employee’s regular base rate of pay (the “Separation Pay”). Such weekly payments shall be made after the Termination Date at the time of Company’s regular pay periods, commencing with the first such pay period following seven
(7) days after Employee delivers the executed version of the Agreement to the Company. 
 C. If, after the Termination
Date, Employee elects to continue health and dental insurance through COBRA continuation coverage, Company agrees to pay through September 30, 2012, the portion of the premium for such insurance that Company would have paid had Employee
maintained such insurance prior to the Termination Date. Employee shall be responsible for paying the remainder of the premium and Employee hereby requests that such amount be deducted by Company from the Separation Pay. 

D. Employee hereby agrees that Company will deduct from the Separation Pay all withholding taxes and other payroll deductions that
Company is required by law to make from wage payments to employees. Employee hereby agrees that the payments and performances described in this Agreement are all that Employee shall be entitled to receive from Company except for vested qualified
retirement benefits, if any, to which Employee may be entitled under Company’s ERISA plans. 

 E. Employee agrees and acknowledges that he shall have no right or claim to any bonus
payment from the Company including, but not limited to, any bonus under the Lumber Liquidators Holdings, Inc. Annual Bonus Plan for Executive Management. 
 F. Employee acknowledges receipt of a payment of $40,000.00 in December 2011 relating to certain relocation expenses claimed by Employee. Company agrees not to seek reimbursement of such payment from
Employee. 
 2. Consideration. Employee hereby agrees and acknowledges that the benefits set forth in Paragraph 1
of this Agreement are more than Company is required to do under its normal policies and procedures and that they are in addition to anything of value to which Employee already is entitled. 

3. Complete Release. Employee hereby knowingly and voluntarily releases and forever discharges Company, any related
companies, and the former and current employees, officers, agents, directors, shareholders, investors, attorneys, affiliates, successors and assigns of any of them (the “Released Parties”) from all liabilities, claims, demands, rights of
action or causes of action Employee had, has or may have against any of the Released Parties, including but not limited to any claims or demands based upon or relating to Employee’s employment with Company or the termination of that employment.
This includes, but is not limited to, a release of any rights or claims Employee may have under Title VII of the Civil Rights Act of 1964, the Equal Pay Act, the Age Discrimination in Employment Act of 1967, the Family and Medical Leave Act, the
Americans with Disabilities Act, the Virginia Human Rights Act, or any other federal, state or local laws or regulations prohibiting employment discrimination. This also includes, but is not limited to, a release by Employee of any claims for
wrongful discharge, breach of contract, or any other statutory, common law, tort or contract claim that Employee had, has or may have against any of the Released Parties. This release covers both claims that Employee knows about and those that
Employee may not know about. This release, however, does not include claims that cannot be released as a matter of law. 
 4.
Return of Company Property. Employee shall immediately return to Company all Company property including, but not limited to, computers and phones, in Employee’s possession, care, custody or control. 

5. No Future Lawsuits. Employee promises never to file a lawsuit asserting any claims that are released in
Paragraph 3. In the event Employee breaches this Paragraph 5, Employee shall pay to Company all of Company’s expenses incurred as a result of such breach, including but not limited to, reasonable attorney’s fees and expenses.

 6. Disclaimer of Liability. This Agreement and the payments and performances hereunder are made solely to
assist Employee in making the transition from employment with Company, and are not and shall not be construed to be an admission of liability, an admission of the truth of any fact, or a declaration against interest on the part of Company.

  
 2 

 7. Confidential Information. Employee covenants and agrees that Employee shall
not use, divulge, publish or disclose to any person or organization, confidential information obtained by Employee during the course of Employee’s employment with Company or related to Employee’s cessation of employment (“Confidential
Information”). The Confidential Information consists of the following: (A) the existence and terms of this Agreement itself; (B) personal, financial, private or sensitive information concerning Company’s executives, employees,
customers and suppliers; (C) information concerning Company’s finances, business practices, long-term and strategic plans and similar matters; (D) information concerning Company’s formulas, designs, methods of business, trade
secrets, technology, business operations, business records and files; and (E) any other non-public information which, if used, divulged, published or disclosed by Employee, would be reasonably likely to provide a competitive advantage to a
competitor or to cause any of Company’s executives or employees embarrassment. Notwithstanding the restrictions contained in this Paragraph 7, Employee shall be permitted to make necessary disclosures to members of Employee’s
immediate family or Employee’s attorneys and advisors concerning the terms of this Agreement, provided they agree to be bound by the terms of this promise of confidentiality with Employee to be responsible for their compliance.

 8. Claim for Reinstatement. Employee agrees to waive and abandon any claim to reinstatement with Company.
Employee further agrees not to apply for any position of employment with Company and agrees that this Agreement shall be sufficient justification for rejecting any such application. 

9. Statements Regarding Company and/or Employment. Employee agrees not to do or say anything, directly or indirectly, that
reasonably may be expected to have the effect of criticizing or disparaging Company, any director of Company, any of Company’s employees, officers or agents, or diminishing or impairing the goodwill and reputation of Company or the products and
services it provides. Employee further agrees not to assert that any current or former employee, agent, director or officer of Company has acted improperly or unlawfully with respect to Employee or any other person regarding employment.
Notwithstanding the foregoing, the parties agree that nothing in this Agreement shall be construed to prohibit the exercise of any rights by either party that such party may not waive as a matter of law. 

10. Non-Release of Future Claims. This Agreement does not waive or release any rights or claims that Employee may have
under the Age Discrimination in Employment Act which arise after the date that Employee signs this Agreement. The parties agree that the decision to terminate Employee’s employment has been made prior to the execution of this Agreement.

 11. Period for Review and Consideration of Agreement. Employee understands that Employee has been given a
period of twenty-one (21) days to review and consider this Agreement before signing it. Employee further understands that Employee may use as much of this 21-day period as Employee wishes prior to signing. 

  
 3 

 12. Encouragement to Consult with Attorney. Employee is encouraged to consult
with an attorney before signing this Agreement. 
 13. Employee’s Right to Revoke
Agreement. Employee may revoke this Agreement within seven (7) days of Employee’s signing it. Revocation can be made by delivering a written notice of revocation to Jean Matherne, Senior Vice President, Human Resources, 3000 John
Deere Road, Toano, Virginia 23168. For this revocation to be effective, written notice must be received by Ms. Matherne no later than the close of business on the seventh day after Employee signs this Agreement. If Employee has not revoked the
Agreement, the eighth (8th) day after Employee signs
this Agreement shall be the Effective Date for purposes of this Agreement. 
 14. Litigation Assistance. Employee
agrees that, unless compelled by law, Employee shall not, directly or indirectly, assist any person or entity in connection with any potential or actual litigation against Company or any other of the Released Parties described in Paragraph 3 hereof.

 15. Execution of Documents. Each of the parties hereto shall execute any and all further documents and perform
any and all further acts reasonably necessary or useful in carrying out the provisions of this Agreement. 
 16. Invalid
Provisions. The invalidity or unenforceability of any particular provision of this Agreement shall not affect the validity or enforceability of any other provisions hereof, and this Agreement shall be construed in all respects as if such
invalid or unenforceable provision were omitted. 
 17. Acknowledgment. Employee acknowledges that Employee has
signed this Agreement freely and voluntarily without duress of any kind. Employee has conferred with an attorney or has knowingly and voluntarily chosen not to confer with an attorney about the Agreement. 

18. Entire Agreement. This Agreement contains the entire understanding of Employee and the Company concerning
Employee’s separation from the Company. All other obligations of the Employee that are contained in other written agreements between Employee and the Company shall survive and remain in full force and effect. This Agreement may not be modified
or supplemented except by a subsequent written agreement signed by all parties. 
 19. Enforcement. The parties
hereto agree that in the event of any breach of this Agreement that monetary damages alone may not adequately compensate the non-breaching party for its losses and therefore it is entitled to injunctive relief. In addition to injunctive relief, the
non-breaching party shall be entitled to monetary damages suffered as a result of the breach, costs and attorneys fees incurred in resolving the breach and such other relief as a court may deem appropriate. 

20. Successorship. It is the intention of the parties that the provisions hereof are binding upon the parties, their
employees, affiliates, agents, heirs, successors and assigns forever. 

  
 4 

 21. Governing Law. This Agreement shall be governed by the laws of the
Commonwealth of Virginia, without regard to its conflict of laws principles. 
 EMPLOYEE ACKNOWLEDGES THAT EMPLOYEE HAS READ
THIS AGREEMENT, UNDERSTANDS IT, AND IS VOLUNTARILY ENTERING INTO IT. PLEASE READ THIS AGREEMENT CAREFULLY. IT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. 
 IN WITNESS WHEREOF, the parties have freely and voluntarily executed this Agreement in a manner so as to be binding on the dates stated below. 

 

							
		 		 	EMPLOYEE
			
	 June 22, 2012
	 		 	 /s/ Seth P. Levy

	Date	 		 	Seth P. Levy
			
		 		 	LUMBER LIQUIDATORS SERVICES, LLC
				
	 June 22, 2012
	 		 	By:	 	 /s/ E. Livingston B. Haskell

	Date	 		 		 	
		 		 	Its:	 	 Secretary and General Corporate Counsel

  
 5EX-10.1

 Exhibit 10.1 
  

 
  
 Rewards
for your Contributions to Our Success 
 AMERICAN GREETINGS 

Executive Incentive Plan Fiscal Year 2013 

 

 
  

Creativity...Innovation... 
 Collaboration... 
 Our commitment to these
ideals has allowed us to become one of the world’s largest publicly owned developers, 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 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 building on our business principles, strengthening our marketplace position and generating value for our shareholders. 

Table of Contents 
 Plan Objectives and Who is Eligible 2 
 How the
Plan Works 3 
 Emphasis of Each Plan Component 4 

Measuring Performance 5 
 Corporate Component 6 
 Individual Component 8

 Example Calculation 9 
 Important Administrative Plan Details 11 
 Key
Terms 12 

 

 
  
 Plan
Objectives 
 Focuses on shareholder value and profitable revenue growth | Our shareholders expect us to evaluate
our results in the same way they do 
 Emphasizes teamwork and mutual cooperation | Our success depends on the
collaborative effort within each of our business units 
 Demonstrates the importance of personal drive and
commitment to quality | Individual contributions are the foundation of our collective accomplishments 
 Rewards
leaders for success | Award opportunity is greatest when attention is given to the achievement of objectives in each of the two performance areas 
 Who Is Eligible 
 You are eligible to participate
in the Plan if you are a Senior Executive Officer (Chairman, CEO, President and COO, Corporate-level Senior Vice Presidents) or a Section 16 Executive Officer. 
 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: 
 • Your total target award 

 

 
  
 How the
Plan Works 
 The Plan provides a cash award for the achievement of goals in two key performance areas measured
over a 12-month fiscal year. Success in these key areas helps American Greetings create shareholder value and ensure profitable growth over the long term. 
 Your Award Opportunity 
 Your total target award is
established at the beginning of each fiscal year and will be communicated 
 to you at that time. 

Your total target award is: 
 A percentage of your base earnings based on your job level 
 The award you would earn if each goal is achieved in each performance area 
 The amount of the award you receive will increase or decrease based on actual performance in these two key areas: 
 American Greetings will establish goals at the beginning of each fiscal year: 
 Corporate goals are developed by management and approved by the Board of Directors. 
 Individual performance goals are established through the Performance Management Process. 
 At the end of the fiscal year, American Greetings determines the extent to which each goal has been met.MPLE 
 If base earnings are $200,000 and target award percentage is 70% of base earnings, total target award is $140,000. 
 Base Earnings ($200,000) 
 x 

Target Award % (70%)
 = 
 Target Award ($140,000) 

 

 
  
 Emphasis
of Each Plan Component 
 For all plan participants, the corporate component is 80% of your total target award.

 The individual component is 20% of your total target award. 

COMPONENT WEIGHTINGS 
 Corporate Individual 
 80% 20% 

EXAMPLE 
 Dan: 
 Senior Vice President, 

$200,000 base earnings 
 $140,000 total target award (70% of base earnings) 

$112,000 = Corporate ($140,000 x 80%) 
 $28,100 = Individual ($140,000 x 20%) 

 

 
  
 Measuring
Performance 
 When results for the fiscal year are final, the company assesses achievement of goals in each
performance area. Performance in each area will determine your actual Plan award. 
 Awards for the corporate
component is based on the financial performance award scale. Individual awards are based on your performance rating. 
 Financial Performance Award Scale 
 Your actual
award is based on fiscal year-end performance results using the award scale shown at right for corporate financial measures. (See Measuring Performance table on page 6 for details.) 

To earn an award, performance in each area must at least reach threshold. There is no award for below-threshold
performance. 
 Achieving goal means American Greetings 

pays awards at target levels. 
 Performance above goal will result in an increased award up to a maximum level. The award range for the corporate financial measures is 0%—200% of target award. 

Performance Multiplier —How It’s Used in the Award Scale 

Performance multipliers are another way to think about the award scale. There is a relationship between performance and
your actual award. For example, there is a 4:1 multiplier for the Corporate EPS measure. This means that for every 1% increase or decrease in the percentage of goal achieved, the Corporate EPS target award will be adjusted up or down by 4% to
determine the actual award. 

 

 
  
 Corporate
Component 
 The corporate component consists of two parts: 

Corporate Earnings per Share (EPS) 
 Corporate Total Revenue (Total Revenue) 
 Each of
these parts is weighted. The Plan is designed to emphasize the importance of our leaders’ abilities to influence EPS, while paying attention to how they can affect Total Revenue. The weighting applied to the total target award for the corporate
component is: 
 80% for EPS 
 20% for Total Revenue 
 The potential award under
the corporate component ranges from 0% to 200% of target award. Performance has a direct impact on actual award. For every 1% increase or decrease in the percentage of goal achieved: 

EPS target award will be adjusted up or down by 4% to determine the actual award for this part of the corporate component.
(Total EPS goal is defined as a range between 97% and 103% of goal). 
 Total Revenue target award will be
adjusted up or down by 4% to determine the actual award (Total Revenue goal is defined as a range between 97% and 103% of goal). 
 Performance Measures 
 METRIC WHY IT’S
IMPORTANT 
 Corporate Earnings per Share (EPS) EPS shows how much profit was generated on a per share basis. It
communicates to the investment community the power the company has to make money. The higher our EPS, the greater value the company is able to provide its shareholders. 
 Corporate Total Revenue(Total Revenue) When investing in a company, an investor wants to see it grow or improve over time. Management sets a Corporate Total Revenue goal each year to keep
activities focused on growing the business year-over-year. 
 Refer to the section entitled Key Terms of
definitions for these financial measures. 
 EPS and Total Revenue Goal Is a Range 

The EPS and Total Revenue portion of the corporate component have a goal defined as a range. That’s because American
Greetings believes we have met our EPS and Total Revenue objectives if we perform between 97% and 103% of goal. 

 

 
  
 Corporate
Component 
 EXAMPLE 
 Dan, Senior Vice President$140,000 total target award 
 $112,000 corporate component (80% of total target award) 
 • $89,600 Corporate EPS (80% of total corporate component) 
 • $22,400 Corporate Total Revenue (20% of total corporate component) 
 Corporate Performance Threshold 
 Each part of the
corporate component has its own performance threshold: 
 • EPS: 80% of goal 

• Total Revenue: 80% of goal 
 The performance threshold must be met to earn an actual award for that measure. Additionally, if the Corporate EPS threshold is not met, then Corporate Total Revenue will not be paid

 CORPORATE EPS 
 Award Scale (4:1) Performance as % of Goal Actual Award as a % of Target Actual Award in Dollars 
 Maximum 128% 200% $179,200 
 120.5% 170% $152,320

 113% 140% $125,440 
 Goal 97% – 103% 100% $89,600 
 92% 80% $71,680

 Threshold 80% 32% $28,672 
 HOW IT’S CALCULATED 
 The formula to calculate
your actual award as a percent of target is: 
 (Actual Performance – Goal) x 4 + 90% = Actual Award as a %
of Target Award 
 Performance Above Goal: (105%—103%) x 4 + 100% = 108% of Target Award 

Performance Below Goal: (95%—97%) x 4 + 100% = 92% of Target Award 

CORPORATE TOTAL REVENUE 
 Award Scale (4:1) Performance as % of Goal Actual Award as a % of Target Actual Award in Dollars 
 Maximum 128% 200% $44,800 
 120.5% 170% $38,080

 113% 140% $31,360 
 Goal 97% – 103% 100% $22,400 
 92% 80% $17,920

 Threshold 80% 32% $7,168 
 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:
(105%—103%) x 4 + 100% = 108% of Target Award 
  
 Performance Below Goal: (95%—97%) x 4 + 100% = 92% of Target Award 
 DAN’S ACTUAL AWARD FOR CORPORATE COMPONENT 

EPS Actual Performance: 113% of goal = actual award of 140% of target ($125,440) 

Total Revenue Actual Performance: 92% of goal = actual award of 80% of target ($17,920) 

 
 Total Award: $125,440 +
$17,920 = $143,360 

 

 
  
 Example
Calculation 
 Here is an example of how your actual award is determined. 

EXAMPLE 
 Dan, Senior Vice President 
 Base Earnings:
$200,000 
 Total Target Award: $140,000(70% of base earnings) 

ACTUAL PERFORMANCE 
 The chart below outlines the performance goals and actual performance in the three categories — American Greetings corporate component and Ben’s individual performance.

 To illustrate how awards are calculated, examples of performance goals are provided in this brochure.
Performance is included in the examples to calculate example awards. These are examples only; performance goals will be different and may be higher or lower than the examples provided. 

	 *
	  
	 Goal is a range from 97%—103% of the target goal reflected above. 

 

 
  
 Dan’s
Total Award Example: 
 Here’s a look at Dan’s total award based on the performance shown on the
previous page. 
 160,000 
 CORPORATE COMPONENT 
 Target Award x Award as % of
Target = Actual Award 
 Corporate EPS 
 $89,600 x 140% = $125,440 
 Corporate Total Revenue

 $22,400 x 80% = $17,920 
 Total = $143,360 
 $143,360 

$112,000 
 INDIVIDUAL COMPONENT 
 Target Award x Award as % of
Target = Actual Award 
 $28,000 x 100% = $28,000 

$28,000 
 $28,000 
 Total Actual Award $159,120 

Total Target Award $130,000 

 

 
  
 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 ending February 28, 2013
— and are eligible to participate in the Executive Incentive Plan, you will receive a prorated incentive award based on the period of time you participated in the Plan and your base earnings during that time. 

Promotions and Transfers 
 If you are promoted during the Plan year, your individual target award, and base earnings, may change. If any of these do change, your award will be calculated based on the targets, base
earnings, plan provisions and actual performance on a prorated basis and rounded to the nearest full month. 

Termination or Retirement 
 If you voluntarily or involuntarily leave American Greetings, including for reason of retirement, before the completion of the Plan year, you will forfeit your Executive Incentive Plan
award for that fiscal year. 
 Leave of Absence, Disability, Death 

If you take a leave of absence, suffer a permanent disability or die, your actual award will be prorated to the nearest
full month based on the actual period you participated in the Plan during the year. 
 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 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. 
 Incentive Award 

Incentive awards earned in fiscal year 2013 will be paid to participants within two and one-half months following the end
of fiscal 2013, 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 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. 
 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. 
 Omnibus Incentive Plan 

The Executive Incentive Plan is governed by the American Greetings Corporation 2007 Omnibus Incentive Compensation Plan,
as such plan may be amended from time to time. In the event of a conflict between the Executive Incentive Plan and the Omnibus Incentive Compensation Plan, the terms of the Omnibus Incentive Compensation Plan will govern. 

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. 

 

 
  
 Key Terms

 The following provides definitions of some common terms used throughout this brochure. Capitalized terms used
herein that are not defined will have the meaning set forth in the Omnibus Incentive Compensation Plan. 
 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 Earnings Per Share (EPS). Corporate earnings per share is measured at the end of the fiscal year and is
calculated as corporate net income divided by the total number of planned shares outstanding as calculated on a fully diluted basis. 
 Corporate Total Revenue. Consolidated corporate net sales and other revenues, including but not limited to royalties, advertising, subscriptions and other revenue streams directly related
to the conduct of our principal business. 
 Eligibility. You are eligible to participate in the Executive
Incentive Plan if you are a Senior Executive (Chairman, CEO, President and COO, Corporate-level Senior Vice Presidents) or other Section 16 Executive Officer. 
 Fiscal Year. March 1 through February 28 or 29 of the following calendar year. 

 

 
  
 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. 
 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” or similar policy of American Greetings in effect on the date of payment or that
may be established thereafter, including, without limitation, any “clawback” or recoupment policy of American Greetings as may be adopted by American Greetings from time to time as required by Section 304 of the Sarbanes-Oxley Act of
2002, Section 954 of the h Wall Street Reform and Consumer Protection Act, or as otherwise required by applicable law. 
 American Greetings reserves the right to terminate or make changes to the Program, including retroactively, at any time without prior notice to any of the Program’s participants
(provided that no amendment to the Program adopted more than 90 days after the beginning of the applicable fiscal year may have the effect of increasing the amount that is or could be payable under the guidelines set forth herein for such fiscal
year to any participant who is a “covered employee” of American Greetings as defined in section 162(m)(3) of the Internal Revenue Code). The Board of Directors (or committee thereof), are the only persons who have the authority to alter or
amend this Program. Any such alteration or amendment must be done in writing. No participant should rely on an alteration or amendment to this Program unless it is made in writing and signed by the Chief Executive Officer or the Chairman.

 

 
  
 Notes

 

 
  
 Notes

 g

 
  

AMERICAN GREETINGS

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