Document:

Employment Agreement between Paul Greeley and Nexstar Broadcasting, Inc.

 Exhibit 10.93 
  
 EXECUTIVE EMPLOYMENT AGREEMENT 
  
 THIS EXECUTIVE EMPLOYMENT AGREEMENT (the “Agreement”) is made as of January 15, 2004 by and between
Paul Greeley (“Executive”), and Nexstar Broadcasting, Inc., a Delaware corporation (the “Company”). 
  
 The Company desires to employ Executive as the Vice President of Promotion and Marketing, and Executive desires to be employed by the Company in such
capacity on the terms and conditions set forth in this Agreement. 
  
 In consideration of the mutual promises set forth herein and the mutual benefits to be derived from this Agreement, the parties hereto, intending to be legally bound, hereby agree as follows: 
  
 1. Positions and Duties. Subject to the terms and
conditions of this Agreement, during the term of this Agreement (which will commence on January 15, 2004), the Company will employ Executive. Effective on and as of January 15, 2004, Executive will serve as the Vice President of Promotion and
Marketing. In such position, Executive will perform such duties of a managerial nature as are assigned to him from time to time by the Company’s chief executive officer (the “CEO”) and/or its board of directors (the
“Board”). Executive will devote his best efforts to his employment with the Company and will devote substantially all of his business time and attention to the performance of his duties under this Agreement; provided that the
foregoing will not preclude Executive from devoting reasonable time to the supervision of his personal investments, civic and charitable affairs, so long as such activities do not materially interfere with the performance of Executive’s duties
hereunder. 
  
 2. Term of Employment. Unless
terminated earlier as provided in Paragraph 3, the Company’s employment of Executive under this Agreement will continue until January 14, 2009; provided, however, that the term of employment under this Agreement will be
automatically renewed for successive one-year periods (the first of which will commence on January 15, 2009) unless, at least ninety (90) days prior to the end of the then current term of employment under this Agreement, Executive or the Company
gives written notice to the other of the notifying party’s intent not to renew the term of employment under this Agreement as of the end of the then current term. 
  
 3. Termination. The Company’s employment of Executive under this Agreement will terminate prior to
the end of the term specified in Paragraph 2 only under the following circumstances: 
  
 (a) Death. Executive’s death, in which case Executive’s employment will terminate on the date of death;

  
 (b) Disability. If
Executive’s illness, physical or mental disability or other incapacity results in Executive’s inability to perform, with or without reasonable accommodation (as defined under the Americans with Disabilities Act), Executive’s 

  

 
duties under this Agreement for any period of six (6) consecutive months, and within thirty (30) days after written notice of termination is given by the
Company to Executive (which may occur before or after the end of such six-month period), Executive does not return to the performance of Executive’s duties hereunder on a full-time basis, then the Company may terminate Executive’s
employment hereunder effective on or after the later of (i) the expiration of such six-month period or (ii) the thirty-first (31st) day following the giving by the Company of such written notice of termination; 
  
 (c) Consolidation, Merger or Comparable Transaction. In the event that Nexstar Broadcasting Group, Inc., the
Company’s indirect parent company (the “Parent) consolidates with or merges with and into any other person, effects a share exchange, enters into a comparable capital transaction or has any or all of its equity securities sold to one or
more third parties, in each case such that a person (other than an affiliate of ABRY Partners, LLC (“ABRY”)) becomes the beneficial owner of a majority of the voting power represented by the securities of the Parent (treating any
such person and the affiliates of such person as being one and the same person), or if the Parent sells all or substantially all of its consolidated assets, then Executive’s employment may, by written notice of termination, be terminated by the
Company or Executive simultaneously with the consummation of such consolidation, merger, share exchange, asset sale, stock sale or comparable transaction; 
  
 (d) Termination by the Company for Cause. The Company may terminate Executive’s employment at any time for
Cause, such termination to be effective as of the date stated in a written notice of termination delivered by the CEO to Executive. Any termination pursuant to this Paragraph 3(d) will not also be deemed to be a termination pursuant to Paragraph
3(e). For the purposes of this Agreement, “Cause” is defined to mean any of the following activities by Executive: (i) the conviction of Executive for a felony or a crime involving moral turpitude or the commission of any act
involving dishonesty, disloyalty or fraud with respect to the Company or any of its subsidiaries or affiliates, in each instance which has caused or is reasonably likely to cause material harm to the Company; (ii) substantial repeated failure to
perform duties which are reasonably directed by the CEO or the Board and which are consistent with the terms of this Agreement and the position specified in Paragraph 1; (iii) gross negligence or willful misconduct with respect to the Company or any
of its subsidiaries or affiliates, in each instance which has caused or is reasonably likely to cause material harm to the Company; or (iv) any other material breach by Executive of a material provision of this Agreement which is not cured within
thirty (30) days after written notice thereof to Executive; 
  
 (e) Termination by the Company Other Than for Cause. The Company may terminate Executive’s employment for any reason or for no reason upon thirty (30) days prior written notice to Executive,
subject to payment of the termination payments specified in Paragraph 6. Such termination will be effective as of the date stated in a written notice of termination delivered by the CEO to Executive; 
  
 (f) Termination by Executive With Good
Reason. Executive may terminate his employment hereunder at any time for Good Reason, such termination to be effective as of the date stated in a written notice of termination delivered by Executive to 

  

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the Company (or such earlier date after the delivery of such notice as the Company may elect). For purposes of this Agreement, “Good Reason”
will mean (i) a material reduction in the duties or position of Executive, or (ii) a material breach by the Company or the Parent of a material provision of this Agreement which adversely affects Executive and which has not been cured by the
breaching entity within thirty (30) days after Executive gives written notice of noncompliance to such entity; 
  
 (g) Termination by Executive Without Good Reason. Executive may terminate his employment hereunder for any reason or
for no reason upon thirty (30) days prior written notice to the Company. Such termination will be effective as of the date stated in a written notice of termination delivered by Executive to the Company (or such earlier date after the delivery of
such notice as the Company may elect); or 
  
 (h) Retirement. The Company may require Executive to retire upon attaining age 65 if such action does not violate applicable law; such action will not be treated as a termination by the Company pursuant to Paragraph
3(d) or 3(e). 
  
 In no event will the termination of Executive’s employment
affect the rights and obligations of the parties set forth in this Agreement, except as expressly set forth herein. Any termination of Executive’s employment pursuant to this Paragraph 3 will be deemed to include a resignation by Executive of
all positions with the Company, the Parent and each of their respective subsidiaries and affiliates, if any. 
  
 4. Compensation. 
  
 (a) Base Salary. During the term of this Agreement, Executive will be entitled to receive a base salary
(“Base Salary”) at the annual rate specified below: 
  

				
	 Period

	  	Base Salary

	 From January 15, 2004 through January 14, 2005
	  	$	105,000
	 From January 15, 2005 through January 14, 2006
	  	$	110,000
	 From January 15, 2006 through January 14, 2007
	  	$	115,000
	 From January 15, 2007 through January 14, 2008
	  	$	120,000
	 From January 15, 2008 through January 14, 2009
	  	$	125,000

  
 (b) Bonus. After the end of each Company fiscal year during the term of this Agreement, Executive will be entitled to receive an annual bonus (the “Bonus”), in an amount, if any, up to the targeted
amount specified below (or in excess of such amount, as the CEO may determine is appropriate in the CEO’s sole discretion), pro-rated for any partial fiscal year during which Executive is employed by the Company pursuant to this Agreement, to
be determined by the CEO based on, among other things, whether Executive has achieved the personal goals established for the Executive by the CEO and/or the Board for such fiscal year: 
  

				
	 After the 2004 fiscal year
	  	$	10,500
	 After the 2005 fiscal year
	  	$	11,000
	 After the 2006 fiscal year
	  	$	11,500
	 After the 2007 fiscal year
	  	$	12,000
	 After the 2008 fiscal year
	  	$	12,500

  

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 (c) Payment. Executive’s Base Salary will be paid ratably
during each 12-month period under this Agreement on a basis consistent with other Company executives. The Bonus provided in Paragraph 4(b), if granted by the CEO, will be paid in a single payment within thirty (30) days after the independent
certified public accountants regularly employed by the Company have made available to the Company the audited financial statements for the appropriate fiscal year. All payments under this Agreement will be subject to withholding or deduction by
reason of the Federal Insurance Contribution Act, Federal income tax, state income tax and all other applicable laws and regulations. 
  
 5. Fringe Benefits. 
  
 (a) During the term of this Agreement, Executive will be entitled to receive, at the Company’s expense, medical, other
insurance coverage, and paid vacation as described in the Company’s employee handbook. 
  
 (b) During the term of this Agreement, the Company will reimburse Executive for all approved business expenses which Executive
incurs on the Company’s behalf, upon presentation of appropriate documentation. 
  
 (c) The Company will reimburse expenses related to Executive’s relocation, subject to verification of receipts and in any case
not to exceed $10,000; provided, the Company has pre-approved such moving expenses and the Executive has solicited expense estimates from at least three different moving companies. 
  
 6. Termination Payments. Executive (or Executive’s estate pursuant to Paragraph 6(a)) will be
entitled to receive the following payments upon termination of Executive’s employment hereunder: 
  
 (a) In the event of the termination of Executive’s employment pursuant to any of the following provisions: 
  

			
	 Paragraph 3(a)
	  	[Death]
	 Paragraph 3(b)
	  	[Disability]
	 Paragraph 3(d)
	  	[By the Company For Cause]
	 Paragraph 3(g)
	  	[By Executive Without Good Reason]
	 Paragraph 3(h)
	  	[Retirement]

  
 the Company will pay
to Executive (or Executive’s estate, as the case may be) as soon as practicable following such termination all accrued and unpaid Base Salary as of the date of termination as provided in Paragraph 4 and an amount (calculated at the rate of the

  

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Base Salary in effect on such date) in respect of all accrued but unutilized vacation time as of such date. 
  
 (b) In the event of termination of Executive’s
employment pursuant to any of the following provisions: 
  

			
	 Paragraph 3(c)
	 	[Consolidation, Merger or Comparable Transaction]
	 Paragraph 3(e)
	 	 [By the Company Other Than For Cause]

	 Paragraph 3(f)
	 	 [Good Reason]

  
 the Company will pay
Executive the amounts described in Paragraph 6(a) and will continue to pay the Base Salary which otherwise would be due to Executive for a period six (6) months after the date of such termination. For such period, the Company will also continue to
provide coverage (at the Company’s expense) under any medical insurance plan available pursuant to Paragraph 5(a) in which Executive was a participant at the time of the termination of Executive’s employment under this Agreement (or such
other medical coverage as the Company provides to its employees generally from time to time during such period). 
  
 Without limiting the remedies available to the Company for breach by Executive of Paragraph 7 if Executive violates the provisions of Paragraph 7 after the termination of
Executive’s employment with the Company in a manner reasonably determined by the Board to be injurious to the Company or any of its affiliates, then Executive will forfeit the right to any payments under this Paragraph 6 which are unpaid at the
time such violation occurs. 
  
 7. Covenant Not to Compete
and Non-Disclosure. 
  
 (a) For
purposes of this Paragraph 7, the term “Company” will include the Company, the Parent and each subsidiary or future subsidiary or other affiliate of any of them, and each such entity is an express third-party beneficiary of this
Agreement; provided that the term “Company” will not include any affiliates of the Company who are affiliates of the Company solely by reason of being affiliates of ABRY. 
  
 (b) During the term of Executive’s employment
pursuant to this Agreement and for a period of one (1) year thereafter, Executive covenants and agrees that Executive will not within any DMA (as determined from time to time by the A. C. Nielsen Company or its successor) in which the Company
operates a television broadcast facility on the date that Executive’s employment by the Company terminates (or in which the Company has agreed to acquire, or the Board has approved pursuing (and the Company has not abandoned) the acquisition
of, a television broadcast facility on or prior to such date) whether directly or indirectly, with or without compensation, (x) enter into or engage in the business of television broadcasting, or (y) be employed by, act as a consultant to, act as a
director of or own beneficially five percent (5%) or more of any class of equity or debt securities of any corporation or other commercial enterprise in the business of television broadcasting, or (z) solicit or do any business with respect to
television broadcasting with any then-existing customers of the Company. During the 

  

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one (1) year after Executive’s employment with the Company terminates, neither Executive nor any of Executive’s affiliates will hire, solicit,
employ or contract with respect to employment any officer or employee of the Company. 
  
 (c) Executive agrees to disclose promptly to the Company and does assign and agree to assign to the Company, free from any
obligation to Executive, all Executive’s right, title and interest in and to any and all ideas, concepts, processes, improvements and inventions made, conceived, written, acquired, disclosed or developed by Executive, solely or in concert with
others, during the term of Executive’s employment by the Company, which relate to the business, activities or facilities of the Company, or resulting from or suggested by any work Executive may do for the Company or at its request. Executive
further agrees to deliver to the Company any and all drawings, notes, photographs, copies, outlines, specifications, memoranda and data relating to such ideas, concepts, processes, improvements and inventions, to cooperate fully during
Executive’s employment and thereafter in the securing of copyright, trademark or patent protection or other similar rights in the United States and foreign countries, and to give evidence and testimony and to execute and deliver to the Company
all documents requested by it in connection therewith. 
  
 (d) Except as expressly set forth below, Executive agrees, whether during Executive’s employment pursuant to this Agreement or thereafter, except as authorized or directed by the Company in writing or pursuant to the normal
exercise of Executive’s responsibilities hereunder, not to disclose to others, use for Executive’s or any other Person’s benefit, copy or make notes of any confidential information or trade secrets or any other knowledge or
information of or relating to the business, activities or facilities of the Company which may come to Executive’s knowledge prior to or during Executive’s employment pursuant to this Agreement or thereafter. Executive will not be bound to
this obligation of confidentiality and nondisclosure if: 
  
 (i) the knowledge or information in question has become part of the public domain by publication or otherwise through no fault of Executive; 
  
 (ii) the knowledge or information in question is disclosed to the recipient by a third party and
Executive reasonably believes such third party is in lawful possession of the knowledge or information and has the lawful right to make disclosure thereof; or 
  

(iii) Executive is required to disclose the information in question pursuant to applicable law or by a court of competent
jurisdiction. 
  
 (e) Upon termination of
employment pursuant to this Agreement, Executive will deliver to the Company all records, notes, data, memoranda, photographs, models and equipment of any nature which are in Executive’s possession or control and which are the property of the
Company. 
  
 (f) The parties understand
and agree that the remedies at law for breach of the covenants in this Paragraph 7 would be inadequate and that the Company will be entitled 

  

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to injunctive or such other equitable relief as a court may deem appropriate for any breach of these covenants. If any of these covenants will at any time be
adjudged invalid to any extent by any court of competent jurisdiction, such covenant will be deemed modified to the extent necessary to render it enforceable. 
  

8. Executive Stock Options. Pursuant to the Nexstar Broadcasting Group, Inc. 2003 Long-Term Equity Incentive Plan, the Board or
the Compensation Committee of the Board, as applicable, will, at its discretion, grant Executive options to purchase shares of the Company’s Class A common stock. 
  
 9. Entire Agreement. This instrument embodies the entire agreement between the parties hereto with
respect to Executive’s employment with the Company, and there have been and are no other agreements, representations or warranties between the parties regarding such matters. 
  
 10. No Assignment. This Agreement will not be assigned by Executive without the prior written consent
of the Company and any attempted assignment without such prior written consent will be null and void and without legal effect; provided that in the case of Executive’s death or disability this Agreement may be enforced by
Executive’s executors, personal representatives or guardians, to the extent applicable. This Agreement will not be assigned by the Company without the prior written consent of Executive except to any other person or entity which may acquire or
conduct the business of the Company, the Parent and/or their respective subsidiaries, if any. 
  
 11. Notices. All notices, requests, demands and other communications hereunder will be deemed to have been duly given when (i) delivered by hand or if mailed, by certified or registered mail, with
postage prepaid; (ii) hand delivered; or (iii) sent overnight mail or overnight courier: 
  
 (a) If to Executive, then to 112 Calvarese Lane, Wayne, Pennsylvania 19087, or as Executive may otherwise specify by prior written
notice to the Company; and 
  
 (b) If to
the Company, then c/o: Nexstar Broadcasting Group, Inc., 909 Lake Carolyn Parkway, Suite 1450, Irving, Texas 75039, Attention: Perry A. Sook or as the Company may otherwise specify by prior written notice to Executive. 
  
 12. Amendment; Modification. This Agreement will not be
amended, modified or supplemented other than in a writing signed by the parties hereto. 
  
 13. Counterparts. This Agreement may be executed in two or more counterparts, each of which will be deemed an original, but all of which together will constitute but one and the same instrument.

  
 14. Headings. The headings in the
Paragraphs of this Agreement are inserted for convenience only and will not constitute a part of this Agreement. 
  
 15. Severability. The parties agree that if any provision of this Agreement will under any circumstances be deemed invalid or
inoperative, the Agreement will be construed with 

  

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the invalid or inoperative provision deleted, and the rights and obligations of the parties will be construed and enforced accordingly. 
  
 16. Governing Law. This Agreement will be governed by and construed
in accordance with the internal law of the State of Delaware without giving effect to any choice of law or conflict provision or rule that would cause the laws of any jurisdiction other than the State of Delaware to be applied. 
  
 17. Legal Fees. In the event of any litigated dispute
between or among any of the parties to this Agreement, the reasonable legal fees and expenses of the party successful in such dispute (whether by way of a decision by a court or other tribunal) will be paid promptly by the unsuccessful party upon
presentation by the successful party of an invoice therefor. 
  
 18. Representations. Executive represents and warrants to the Company that Executive is not a party to or bound by any employment agreement, noncompete agreement or confidentiality agreement with any other person or
entity. 
  
 19. Strict Construction. The
parties to this Agreement have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties,
and no presumption or burden of proof will arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement. 
  
 20. Binding Arbitration. 
  
 (a) Generally. The arbitration procedures described in this Paragraph 20 will be the sole and exclusive method of
resolving and remedying claims under this Agreement (“Disputes”); provided that nothing in this Paragraph 20 will prohibit a Person from instituting litigation to enforce any Final Arbitration Award. Except as otherwise
provided in the Commercial Arbitration Rules of the American Arbitration Association as in effect from time to time (the “AAA Rules”), the arbitration procedures described in this Paragraph 20 and any Final Arbitration Award will be
governed by, and will be enforceable pursuant to, the Uniform Arbitration Act as in effect in the State of Texas from time to time. “Person” for the purposes of this Agreement means an individual, a partnership, a limited liability
company, a corporation, an association, a joint stock company, a trust, a joint venture, an unincorporated organization or any governmental entity. 
  
 (b) Notice of Arbitration. If a Person asserts that there exists a Dispute, then such Person (the “Disputing
Person”) will give each other Person involved in such Dispute a written notice setting forth the nature of the asserted Dispute. If all such Persons do not resolve any such asserted Dispute prior to the 10th business day after such notice is given, then any of them may commence arbitration pursuant to this Paragraph 20 by giving each other Person involved
in such Dispute a written notice to that effect (an “Arbitration Notice”), setting forth any matters which are required to be set forth therein in accordance with the AAA Rules. 
  

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 (c) Selection of Arbitrator. The Persons involved in any Dispute will attempt to
select a single arbitrator by mutual agreement. If no such arbitrator is selected prior to the 10th business day
after the related Arbitration Notice is given, then an arbitrator which is experienced in matters of the type which are the subject matter of the Dispute will be selected in accordance with the AAA Rules. 
  
 (d) Conduct of Arbitration. The arbitration will be
conducted in Irving, Texas metropolitan area under the AAA Rules, as modified by any written agreement among the Persons involved in the Dispute in question. The arbitrator will conduct the arbitration in a manner so that the final result,
determination, finding, judgment or award determined by the arbitrator (the “Final Arbitration Award”) is made or rendered as soon as practicable, and the Persons involved will use reasonable efforts to cause a Final Arbitration Award to
occur within 90 days after the arbitrator is selected. Any Final Arbitration Award will be final and binding upon all Persons and there will be no appeal from or reexamination of any Final Arbitration Award, except in the case of fraud, perjury or
evident partiality or misconduct by the arbitrator prejudicing the rights of such Persons or to correct manifest clerical errors. 
  
 (e) Enforcement. A Final Arbitration Award may be enforced in any state or federal court having jurisdiction over the subject matter
of the related Dispute. 
  
 (f) Expenses.
Each prevailing Person in any arbitration proceeding described in this Paragraph 20 will be entitled to recover from any non-prevailing Person(s) its reasonable attorneys’ fees and disbursements and other out-of-pocket costs in addition to any
damages or other remedies awarded to such prevailing Person, and the non-prevailing Person(s) also will be required to pay all other costs and expenses associated with the arbitration; provided that (i) if an arbitrator is unable to determine
that one or more Persons are prevailing Person(s) in any such arbitration proceeding, then such costs and expenses will be equitably allocated by such arbitrator upon the basis of the outcome of such arbitration proceeding, and (ii) if such
arbitrator is unable to allocate such costs and expenses in such a manner, then the costs and expenses of such arbitration will be paid one-half by the Company, and the Parent, on the one hand, and one-half by Executive, on the other hand, and each
Person involved in such arbitration will pay the out-of-pocket expenses incurred by it. As part of any Final Arbitration Award, the arbitrator may designate the prevailing Person(s) for purposes of this Paragraph 20. 
  
 *    *    *    *    *    * 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and
year first above written. 
  

			
	
	 /s/ Paul Greeley

	

	PAUL GREELEY
	
	NEXSTAR BROADCASTING, INC.
		
	By:	 	 /s/

	 	 	

	 Name:
	 	 
	 Title:Exhibit 10.1

 Exhibit 10.1 
  
 THIRD AMENDMENT TO 
 SECOND AMENDED AND RESTATED CREDIT AGREEMENT 
  
 THIS THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (hereinafter, this “Amendment”) made as of this 29th day of March, 2004 by and among: 
  
 WORKFLOW MANAGEMENT, INC. (“Workflow” or the “Borrower”), a Delaware corporation and DATA
BUSINESS FORMS LIMITED (“DBF”), a corporation organized and existing under the laws of Ontario; 
  
 FLEET NATIONAL BANK, as administrative agent for itself and the other Lenders hereto (the “Agent”); 
  
 BANK ONE, N.A., as syndication agent, and BANK OF
AMERICA, COMERICA BANK and UNION BANK OF CALIFORNIA, N.A., as co-agents for the Lenders; and 
  
 FLEET NATIONAL BANK, BANK ONE, N.A., BANK OF AMERICA, COMERICA BANK, UNION BANK OF CALIFORNIA, N.A., NATIONAL CITY BANK, LASALLE BANK
NATIONAL ASSOCIATION, and CHEVY CHASE BANK, F.S.B. (together with such other lending institutions from time to time party hereto, the “Lenders”). 
  
 Background 
  
 Reference is hereby made to the Second Amended and Restated Credit Agreement, dated as of January 15, 2003 (as heretofore amended and in effect on the
date hereof, the “Credit Agreement”) by and among the Agent, the Lenders, Workflow and DBF. Capitalized terms used herein without definition shall have the meanings assigned to such terms in the Credit Agreement. 
  
 The Borrower has requested that the Agent and the Lenders amend certain
provisions of the Credit Agreement, and the Agent and the Lenders have agreed to do so, but only upon the terms and conditions set forth herein. Accordingly, for good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Borrower, DBF, the Guarantors, the Agent and the Lenders agree as follows: 
  

	1.	Amendments to Credit Agreement. Subject to the satisfaction of the conditions set forth in Paragraph 2, below, from and after March 29, 2004 (the “Third
Amendment Date”), the Credit Agreement is hereby amended as follows: 

  

	 	a.	The following text contained in the third to last line of the last paragraph of Section 1.09(j) of the Credit Agreement is hereby deleted: 

  
 “, subject to the provisions of Section 3.04,” 

	 	b.	The following text contained in the second to last line of the last paragraph of Section 3.01(a)(ii) of the Credit Agreement is hereby deleted: 

  
 “, subject to the provisions of Section 3.04,” 

 

	 	c.	Section 3.04 of the Credit Agreement is hereby deleted in its entirety, and the following inserted in its place: 

  
 [Intentionally Deleted] 
  

	 	d.	The following definitions are hereby inserted into Section 10 of the Credit Agreement after the definition of “Test Period” and prior to the definition of “Total
Indebtedness”: 

  
 “Third Amendment
Date” means March 29, 2004. 
  
 “Third
Amendment” means that certain Third Amendment to Second Amended and Restated Credit Agreement dated as of the Third Amendment Date. 
  

	 	e.	The definition of “Deferral Payment Date” is hereby deleted in its entirety and the following substituted in its stead: 

  
 “Deferral Payment Date” means April 30, 2004 

 

	 	f.	The definition of “Merger Agreement” is hereby deleted in its entirety and the following substituted in its stead: 

  
 “Merger Agreement” means the Agreement and
Plan of Merger dated January 30, 2004 by and among the Borrower, WF Holdings, Inc., and WFM Acquisition Sub, Inc. as amended by an Amendment to Agreement and Plan of Merger dated March 29, 2004, without giving effect to any subsequent amendment or
modification.” 
  

	2.	Amendment to Warrants. Subject to the satisfaction of the conditions set forth in Paragraph 3, below, from and after the Third Amendment Date, the Warrants are hereby
amended by deleting Paragraph 5(b) of Schedule “A” of each Warrant in its entirety, and the following is inserted in its place: 

  
 “(b) Commencement Date” means April 30, 2004. 
  

	3.	Condition to Effectiveness. The amendments set forth in this Amendment shall become effective upon the satisfaction of the following conditions:

  

	 	a.	The Borrowers shall have paid all reasonable expenses of the Agent, the Agent’s counsel and their respective professional advisors through the date of closing on this
Amendment. 

  

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	 	b.	No Events of Default shall have occurred. 

  

	 	c.	The meeting of shareholders of Workflow, currently scheduled for March 30, 2004, shall be rescheduled to a date no later than April 9, 2004. 

  

	 	d.	The Agent shall have received a copy of this Amendment, and all other documents, instruments, and agreements required in connection therewith, or relating thereto, duly executed by
the Borrower, each of the Guarantors, the Agent and each of the Lenders. 

  

	 	e.	The Agent shall have received evidence of appropriate corporate or other entity approvals and other evidence of the enforceability of this Amendment (including, without limitation,
such opinions of counsel as the Agent and the Lenders may reasonably require), in each case satisfactory to the Agent in form and substance. 

  

	 	f.	The Agent shall have received all other documents, instruments, and agreements required in connection herewith, or relating hereto, as the Agent or its counsel may reasonably
request. 

  

	4.	Consent to First Amendment to Merger Agreement. Subject to the satisfaction of the conditions set forth in Paragraph 3, above, the Agent and the Lenders hereby consent
to the Borrower’s entering into, the Amendment to Agreement and Plan of Merger Nothing contained in this Paragraph is intended to be, nor shall be construed as, an agreement by the Agent and/or the Lenders to release their security interests
and/or liens in the assets of the Credit Parties until irrevocable payment in full of all Obligations, or a waiver by the Agent and the Lenders of their right to require payment in full of the Obligations upon the consummation of the transaction
contemplated by the Merger Agreement. 

  

	5.	No Present Claims. The Borrower and the Guarantors acknowledge and agree that, based upon the facts and circumstances existing as of the date hereof: (a) the Borrower
and Guarantors have no claim or cause of action against any of the Lenders or the Agent (or any of their directors, officers, employees, agents or affiliates); (b) the Borrower and the Guarantors have no offset right, counterclaim or defense of any
kind against any of the Obligations, indebtedness or liabilities to the Lenders and the Agent; and (c) each of the Lenders and the Agent has heretofore performed and satisfied in a timely manner all of its obligations to the Borrower, and the
Guarantors, if any. The Lenders and the Agent wish (and the Borrower and Guarantors agree) to eliminate any possibility that any past conditions, acts, omissions, events, circumstances or matters would impair or otherwise 

 

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 adversely affect any of their rights, interests, contracts, collateral security or remedies. Therefore,
the Borrower and the Guarantors unconditionally release, waive and forever discharge (i) any and all liabilities, obligations, duties, promises or indebtedness of any kind of any of the Lenders or the Agent to the Borrower and the Guarantors, except
the obligations to be performed by the Lenders or the Agent hereafter as expressly stated in this Agreement and the other Credit Documents, and (ii) all claims, offsets, causes of action, suits or defenses of any kind whatsoever (if any), whether
known or unknown, which the Borrower and/or Guarantors might otherwise have against any of the Lenders or the Agent or any of their directors, officers, employees, agents or affiliates for their respective actions or omissions occurring prior to the
date hereof, in either case (i) or (ii) above, on account of any condition, act, omission, event, contract, liability, obligation, indebtedness, claim, cause of action, defense, circumstance or matter of any kind whatsoever which existed, arose or
occurred at any time prior to the date hereof. 
  

	6.	Representations and Warranties. The Borrower hereby affirms and reaffirms that all representations and warranties contained in the Credit Agreement, as amended hereby,
and in the other Credit Documents are true and correct in all material respects as of the Third Amendment Date. 

  

	7.	Miscellaneous. No waiver or amendment contained herein shall be deemed to imply any willingness of the Agent or the Lenders to agree to, or otherwise prejudice any
rights of the Agent or the Lenders with respect to, any similar waivers, amendments or agreements that may be requested for any future period. This agreement shall constitute a “Credit Document”. Except as specifically waived or amended
hereby, each of the terms and conditions of the Credit Agreement and the other Credit Documents are hereby ratified and confirmed and shall remain in full force and effect. Nothing contained herein shall in any way prejudice, impair or effect any
rights or remedies of the Lenders or the Agent under the Credit Agreement and the other Credit Documents. 

  
 This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which
counterparts taken together shall be deemed to constitute one and the same instrument. 
  
 THIS AMENDMENT SHALL FOR ALL PURPOSES BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE COMMONWEALTH OF MASSACHUSETTS (WITHOUT REFERENCE TO CONFLICTS OF LAW). 
  
 [remainder of this page intentionally left blank] 
  

 -4- 

 IN WITNESS WHEREOF, this Third Amendment to Second Amended and Restated Credit Agreement has been
executed as a sealed instrument as of the 29th day of March, 2004. 
  

			
	FLEET NATIONAL BANK, as Agent and
as a Lender
		
	By:	 	 /s/ Fleet National Bank

	Name:	 	 
	Title:	 	 

  

 -5- 

			
	BANK ONE, N.A.
		
	 By:
	 	 /s/ Bank One, N.A.

	 Name:
	 	 
	 Title:
	 	 

  

 -6- 

			
	COMERICA BANK
		
	 By:
	 	 /s/ Comerica Bank

	 Name:
	 	 
	 Title:
	 	 

  

 -7- 

			
	BANK OF AMERICA
		
	 By:
	 	 /s/ Bank of America

	 Name:
	 	 
	 Title:
	 	 

  

 -8- 

			
	UNION BANK OF CALIFORNIA, N.A.
		
	 By:
	 	 /s/ Union Bank of California, N.A.

	 Name:
	 	 
	 Title:
	 	 

  

 -9- 

			
	NATIONAL CITY BANK
		
	 By:
	 	 /s/ National City Bank

	 Name:
	 	 
	 Title:
	 	 

  

 -10- 

			
	LASALLE BANK NATIONAL ASSOCIATION
		
	 By:
	 	 /s/ LaSalle Bank National Association

	 Name:
	 	 
	 Title:
	 	 

  

 -11- 

			
	CHEVY CHASE BANK, F.S.B.
		
	 By:
	 	 /s/ Chevy Chase Bank, F.S.B.

	 Name:
	 	 
	 Title:
	 	 

  

 -12- 

			
	WORKFLOW MANAGEMENT, INC.
		
	 By:
	 	 /s/ Michael L. Schmickle

	 Name:
	 	 Michael L. Schmickle

	 Title:
	 	 Executive Vice President

	
	DATA BUSINESS FORMS LIMITED
		
	 By:
	 	 /s/ Michael L. Schmickle

	 Name:
	 	 Michael L. Schmickle

	 Title:
	 	 Vice President

  

 -13- 

 ACKNOWLEDGED AND AGREED: 
  

			
	WORKFLOW DIRECT, INC.
		
	 By:
	 	 /s/ Michael L. Schmickle

	 Name:
	 	 Michael L. Schmickle

	 Title:
	 	 Vice President

	
	WORKFLOW SOLUTIONS, LLC
		
	 By:
	 	 /s/ Michael L. Schmickle

	 Name:
	 	 Michael L. Schmickle

	 Title:
	 	 Vice President

	
	SFI OF PUERTO RICO, INC.
		
	 By:
	 	 /s/ Michael L. Schmickle

	 Name:
	 	 Michael L. Schmickle

	 Title:
	 	 Vice President

	
	WORKFLOW MANAGEMENT
	ACQUISITION II CORP.
		
	 By:
	 	 /s/ Michael L. Schmickle

	 Name:
	 	 Michael L. Schmickle

	 Title:
	 	 Vice President

	
	WFMI, INC.
		
	 By:
	 	 /s/ Michael L. Schmickle

	 Name:
	 	 Michael L. Schmickle

	 Title:
	 	 Vice President

  

 -14- 

			
	WORKFLOW OF FLORIDA, INC.
		
	 By:
	 	 /s/ Michael L. Schmickle

	 Name:
	 	 Michael L. Schmickle

	 Title:
	 	 Vice President

	
	DIRECTPRO LLC
		
	 By:
	 	 /s/ Michael L. Schmickle

	 Name:
	 	 Michael L. Schmickle

	 Title:
	 	 Vice President

	
	DIRECTPRO WEST, LLC
		
	 By:
	 	 /s/ Michael L. Schmickle

	 Name:
	 	 Michael L. Schmickle

	 Title:
	 	 Vice President

	
	UNITED ENVELOPE, LLC
		
	 By:
	 	 /s/ Michael L. Schmickle

	 Name:
	 	 Michael L. Schmickle

	 Title:
	 	 Vice President

	
	FREEDOM GRAPHIC SERVICES, INC.
		
	 By:
	 	 /s/ Michael L. Schmickle

	 Name:
	 	 Michael L. Schmickle

	 Title:
	 	 Vice President

  

 -15-

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