Document:

Employment Agreement, dated as of October 16, 2008--Kevin L. Brown

 Exhibit 10.2 
 EMPLOYMENT AGREEMENT 
 AGREEMENT, dated as of October 16, 2008 (the
“Agreement”), by and among Aleris International, Inc. (the “Company”), Aurora Acquisition Holdings, Inc. (the “Parent”) and Kevin L. Brown (the “Executive”). 
 WHEREAS, the Company desires that the Executive serve the Company as an Executive Vice President and Chief Financial Officer of the Company, on the terms
and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the premises and mutual covenants herein and for other good and
valuable consideration, the parties agree as follows: 
 1. Employment, Duties and Agreements. 
 (a) The Company hereby agrees to employ the Executive as an Executive Vice President and the Chief Financial Officer of the Company, and the Executive
hereby accepts such position and agrees to serve the Company in such capacity during the employment period fixed by Section 3 hereof (the “Employment Period”). The Executive shall have such duties and responsibilities as are
consistent with the Executive’s position and as may be assigned by the Company from time to time. During the Employment Period, the Executive shall be subject to, and shall act in accordance with, all reasonable instructions and directions and
all applicable policies and rules of the Company. 
 (b) During the Employment Period, excluding any periods of vacation and sick leave to
which the Executive is entitled, the Executive shall devote his full working time, energy and attention to the performance of his duties and responsibilities hereunder and shall faithfully and diligently endeavor to promote the business and best
interests of the Company. During the Employment Period, the Executive may not, without the prior written consent of the Company, directly or indirectly, operate, participate in the management, operations or control of, or act as an executive,
officer, consultant, agent or representative of, any type of business or service (other than as an executive of the Company). It shall not, however, be a violation of the foregoing provisions of this Section 1(b) for the Executive to
(i) subject to the approval of the Board, serve as an officer or director or otherwise participate in non-profit, educational, welfare, social, religious and civil organizations, or (ii) manage his personal, financial and legal affairs, so
long as any such activities in (i) and (ii) do not interfere with the performance of his duties and responsibilities to the Company as provided hereunder. 
 (c) In connection with the Executive’s employment by the Company under this Agreement, the Executive shall be based at the principal executive offices of the Company, currently located in Beachwood, Ohio, except
for such travel as the performance of the Executive’s duties in the business of the Company may require. The Company shall provide reimbursement for reasonable travel and temporary housing expenses under the Aleris relocation policies. At the
time of your relocation to Cleveland from Ann Arbor, your moving, home sale and other relocation expenses will be provided under the Aleris relocation policies. 

 2. Compensation. 
 (a) As compensation for the agreements made by the Executive herein and the performance by the Executive of his obligations hereunder, during the Employment Period, the Company shall pay the Executive, pursuant to the
Company’s normal and customary payroll procedures, a base salary at the rate of $475,000 per annum, (the “Base Salary”). During the Employment Term, the Base Salary will be reviewed annually and is subject to adjustment at the
discretion of the Board of Directors of the Company (the “Board”), but in no event shall the Company pay the Executive a Base Salary less than that set forth above during the Employment Term. 
 (b) In addition to the Base Salary, within 30 days of the date hereof, the Company shall pay the Executive a signing bonus in the amount of $75,000.00.

 (c) In addition to the Base Salary, during the Employment Period, but beginning for the fiscal year ending December 31, 2008, the
Executive shall be eligible to participate in the annual incentive plan (the “AIP”) established and approved by the Board and, pursuant to the AIP, the Executive may earn an annual bonus (the “Annual Bonus”) in each
fiscal year during the Employment Period, with a target Annual Bonus of 75% of Base Salary up to a maximum of 150% of Base Salary, based on the achievement of annual performance objectives as set forth in the AIP, subject to the Executive’s
employment with the Company through the applicable payment date for any such Annual Bonus (unless otherwise provided herein); provided, however, Executive’s Annual Bonus for 2008 shall be fixed and guaranteed in the amount of $75,000.00. To
receive an Annual Bonus for 2008, Executive must be an active employee with the Company through the date of payout of AIP awards in 2009. 
 (d) During the Employment Period: (i) except as provided in the last sentence of this Section 2(d), the Executive and/or the Executive’s family, as the case may be, shall be entitled to participate in all employee benefit
plans, practices, policies, programs and arrangements of the Company which are made available generally to other executive officers of the Company and/or their families, as the case may be, including, without limiting the Company’s right to
terminate, modify or amend such plans in accordance with their terms or as provided in the immediately succeeding sentence, the Company’s benefits restoration program, life insurance, long-term disability and health plans and (ii) the
Executive shall be entitled to the perquisites and other fringe benefits that are made available by the Company to its senior executives generally, subject to any applicable terms and conditions of any specific perquisite or other fringe benefit.

 (e) Pursuant to the terms of the Aurora Acquisition Holdings, Inc. Amended and Restated Management Equity Incentive Plan, as amended and
restated February 16, 2007 (the “Parent Option Plan”), as soon as practicable after the date hereof, you will be eligible for a grant of options (the “Options”) to purchase shares of common stock of the Parent (the
“Shares”) at an exercise price per Share equal to the Fair Market Value (as defined in the Parent Option Plan) of a Share on the date hereof . In the event the Company or the Parent engages in a significant subsequent corporate
transaction with another entity, the Board will reconsider the size of the equity pool, taking into account the larger size of the resultant entity and taking into account all relevant circumstances, including competitive market data for companies
of similar size and circumstance. 
  

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 (f) The Company shall reimburse the Executive for all reasonable business expenses upon the presentation
of statements of such expenses in accordance with the Company’s policies and procedures now in force or as such policies and procedures may be modified with respect to all senior executive officers of the Company. 
 3. Employment Period. 
 The Employment
Period shall commence on the date hereof (the “Effective Date”) and shall terminate on the third anniversary of the Effective Date, provided that on the third anniversary of the Effective Date and on each anniversary thereafter, the
Employment Period shall automatically be extended for additional one-year periods unless either party provides the other party with a Notice of Termination in accordance with Section 4(a) at least sixty (60) days before any such
anniversary (the anniversary date on which the Employment Period terminates shall be referred to herein as the “Scheduled Termination Date”). Notwithstanding the foregoing, the Executive’s employment hereunder may be terminated
during the Employment Period prior to the Scheduled Termination Date upon the earliest to occur of any one of the following events (at which time the Employment Period shall be terminated): 
 (a) Death. The Executive’s employment hereunder shall terminate upon his death. 
 (b) Disability. The Company shall be entitled to terminate the Executive’s employment hereunder for “Disability” if, as a result of
the Executive’s incapacity due to physical or mental illness or injury, the Executive (i) shall become eligible to receive a benefit under the Company’s long-term disability plan applicable to the Executive, or (ii) if no such
long-term disability plan is applicable to the Executive, the Executive shall have been unable to perform his duties hereunder for a period of ninety (90) consecutive days or a period of ninety (90) days in any one hundred eighty
(180) day period. 
 (c) Cause. The Company may terminate the Executive’s employment hereunder for Cause. For purposes of this
Agreement, the term “Cause” shall mean: (i) a material breach by the Executive of this Agreement; (ii) other than as a result of physical or mental illness or injury, the willful and continued failure of the Executive to
perform substantially the Executive’s duties with the Company or one of its affiliates; (iii) the Executive’s willful and continued misconduct or gross negligence which is materially injurious to the Company or an affiliate of the
Company; or (iv) the indictment by the Executive of, or a plea by the Executive of nolo contendere to, a felony involving moral turpitude or other serious crime involving moral turpitude. In the case of clauses (i) and (ii) above, the
Company shall provide notice to the Executive indicating in reasonable detail the events or circumstances that it believes constitute Cause hereunder and, if such breach or failure is reasonably susceptible to cure, provide the Executive with a
reasonable period of time (not to exceed thirty (30) days) to cure such breach or failure. If, subsequent to the Executive’s termination of employment hereunder for other than Cause, it is determined in good faith by the Board that the
Executive’s employment could have been terminated for Cause pursuant to clause (iv) of this Section 3(c), the Executive’s employment shall, at the election of the Board, be deemed to have been terminated for Cause retroactively
to the date the events giving rise to Cause occurred. 
  

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 (d) Without Cause. The Company may terminate the Executive’s employment hereunder during the
Employment Period without Cause. 
 (e) Voluntarily. The Executive may voluntarily terminate his employment hereunder, with or without Good
Reason, provided that the Executive provides the Company with notice of his intent to terminate his employment at least 60 days in advance of the Date of Termination (as defined in Section 4(b) below) (and, in the case of a termination by the
Executive for Good Reason, complies with all requirements of such a termination as provided hereunder). 
 4 Termination Procedure.

 (a) Notice of Termination. Any termination of the Executive’s employment by the Company or by the Executive during the Employment
Period (other than a termination on account of the death of the Executive) shall be communicated by written “Notice of Termination” to the other party hereto in accordance with Section 11(a). 
 (b) Date of Termination. “Date of Termination” shall mean (i) if the Executive’s employment is terminated by his death, the
date of his death, (ii) if the Executive’s employment is terminated pursuant to Section 3(b), on the date the Executive receives Notice of Termination from the Company, (iii) if the Executive voluntarily terminates his employment
(whether or not for Good Reason), the date specified in the notice given pursuant to Section 3(e) herein which shall not be less than 90 days after the Notice of Termination, and (iv) if the Executive’s employment is terminated for
any other reason, the date on which a Notice of Termination is given or any later date (within thirty (30) days, or any alternative time period agreed upon by the parties, after the giving of such notice) set forth in such Notice of
Termination. 
 5. Termination Payments. 
 (a) Without Cause. In the event the Employment Period terminates under this Agreement as a result of the Company terminating the Executive without Cause or the Executive terminating his employment for Good Reason, the
Executive shall be entitled to the payments and benefits set forth in this Section 5(a): 
 (i) Prior to a Change in Control. If
the Executive’s employment is terminated prior to a Change in Control, the Company shall pay the Executive (A) within thirty (30) days following the Date of Termination, the Executive’s accrued but unused vacation and Base Salary
through the Date of Termination (to the extent not theretofore paid) (the “Accrued Benefits”) and (B) one and a half (1.5) times the sum of (1) the Executive’s Base Salary and (2) the Target Bonus, with such
sum to be paid in lump sum within 30 days following the Date of Termination and (C) any payments due under Section 2(c)(i) hereof; provided, however, that the Executive shall be required to repay the payments described in
clause (B) (net of any taxes paid by the Executive or the Company on such payments) in the event the Executive receives, within 18 months after the Date of Termination, written notice from the Company that in the reasonable judgment of the
Company, the Executive engaged or is engaging in any conduct that violates or otherwise fails to comply with his obligations under Sections 7 and 8 hereof, or in the event the Executive is convicted of, or pleads guilty to, a felony involving moral
turpitude within the three year period following the Date of Termination for an act or omission committed during the Employment Period. 
  

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 (ii) On or After a Change in Control. If the Executive’s employment is terminated on or
after a subsequent Change in Control, the Company shall pay the Executive (A) within thirty (30) days following the Date of Termination, the Executive’s Accrued Benefits and (B) one and a half (1.5) times the
Executive’s Base Salary, with such sum to be paid in lump sum within 30 days following the Date of Termination, and (C) any payments due under Section 2(c)(i) hereof; provided, however, that the Executive shall be
required to repay the payments described in clause (B) (net of any taxes paid by the Executive or the Company on such payments) in the event the Executive receives, within 18 months after the Date of Termination, written notice from the Company
that in the reasonable judgment of the Company, the Executive engaged or is engaging in any conduct that violates or otherwise fails to comply with his obligations under Sections 7 and 8 hereof, or in the event the Executive is convicted of, or
pleads guilty to, a felony involving moral turpitude within the three year period following the Date of Termination for an act or omission committed during the Employment Period. 
 (iii) With respect to any termination of the Executive’s employment to which clause (i) or (ii) of this Section 5(a) applies, for
the eighteen month period commencing on the day after Executive’s Date of Termination, the Company shall continue to provide medical benefits to Executive which are substantially similar to those provided generally to executive officers of the
Company (including any required contribution by such executive officers) pursuant to such medical plan as may be in effect from time to time as if the Executive’s employment had not been terminated (it being understood that the Company may
provide such coverage by paying the Executive’s COBRA premiums, less any contribution required by the Executive); provided, however, that if the Executive becomes re-employed with another employer and is eligible to receive
medical or other welfare benefits under another employer provided plan, the corresponding medical and other welfare benefits described herein shall be secondary to such benefits during the period of the Executive’s eligibility, and the Company
shall reimburse the Executive for any increased cost to provide the Executive with the benefits provided under the Company’s medical plan. The Executive shall promptly notify the Company of any changes in his medical benefits coverage.

 (iv) The payments and benefits provided under this Section 5(a) are subject to and conditioned upon the Executive executing a valid
general release and waiver (in the form reasonably acceptable to the Company), waiving all claims the Executive may have against the Company, its successors, assigns, affiliates, executives, officers and directors, and such waiver becoming
effective, and the payments and benefits are subject to and conditioned upon the Executive’s compliance with the Restrictive Covenants provided in Sections 7 and 8 hereof. For the avoidance of doubt, except as provided in Section 2(c)
hereof concerning any remaining installments of the Sign-on Bonus, upon a termination of the Employment Period without Cause or as a result of Good Reason, the Executive shall not be entitled to any other compensation or benefits not expressly
provided for in this section, regardless of the time that would otherwise remain in the Employment Period had the Employment Period not been terminated without Cause or for Good Reason. Except as provided in this Section 5(a), or pursuant to
Section 2(c) if applicable, and except for any vested benefits under any tax qualified pension plans of the Company, and continuation of health insurance benefits on the terms and to the extent required by Section 4980B of the Internal
Revenue Code of 1986 and Section 601 of the Employee Retirement Income Security Act of 1974, as amended (which provisions are commonly known as “COBRA”), the Company shall have no additional obligations to the Executive.

  

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 (vi) For purposes of this Agreement, “Good Reason” shall mean, without the
Executive’s consent: (A) a reduction by the Company in the Executive’s Base Salary; (B) a material diminution in the Executive’s Annual Bonus opportunity; (C) a material diminution in the Executive’s position,
duties, responsibilities or reporting relationships; or (D) a change of the Executive’s principal place of employment to a location more than seventy-five (75) miles from such principal place of employment as of the Effective Date;
provided, Good Reason shall not occur unless the Executive shall have given a detailed written notice to the Company of any fact or circumstance believed by the Executive to constitute Good Reason within thirty (30) days of the
occurrence of such fact or circumstance, and, if such fact or circumstance is reasonably susceptible to cure, the Company shall have thirty (30) days to cure such fact or circumstance and shall have failed to so cure. 
 (b) Cause or Voluntarily Other than for Good Reason. If the Executive’s employment is terminated during the Employment Period by the Company for
Cause or voluntarily by the Executive other than for Good Reason, the Company shall pay the Executive within thirty (30) days following the Date of Termination the Accrued Benefits. Except as provided in this Section 5(b) and
Section 2(c) hereof concerning any remaining installments of the Sign-on Bonus, and except for any vested benefits under any tax qualified pension plans of the Company, and continuation of health insurance benefits on the terms and to the
extent required by COBRA, the Company shall have no additional obligations to the Executive. 
 (c) Disability or Death. If the
Executive’s employment is terminated during the Employment Period as a result of the Executive’s death or Disability, the Company shall pay the Executive or the Executive’s estate, as the case may be, within thirty (30) days
following the Date of Termination: (i) the Accrued Benefits; and (ii) any Annual Bonus earned by the Executive in respect of the Company’s fiscal year ending immediately prior to the Date of Termination but not yet paid. Except as
provided in this Section 5(c) and Section 2(c) hereof concerning any remaining installments of the Sign-on Bonus, and except for any vested benefits under any tax qualified pension plans of the Company, and continuation of health insurance
benefits on the terms and to the extent required by COBRA, the Company shall have no additional obligations to the Executive. 
 6. Legal
Fees; Indemnification; Directors’ & Officers’ Liability Insurance. 
 (a) In the event of any contest or dispute
between the Company and the Executive with respect to this Agreement or the Executive’s employment hereunder, each of the parties shall be responsible for its respective legal fees and expenses; provided, that, if the Executive prevails
on any material issue in any action, the Company shall reimburse the Executive any reasonable legal fees and expenses incurred. 
 (b) The
Executive will be entitled to indemnification on the same terms as indemnification is made available by the Company to its other senior executives, whether through the Company’s bylaws, the Merger Agreement or otherwise. 
 (c) During the Employment Period, the Executive shall be entitled to the same directors’ and officers’ liability insurance coverage that the
Company provides generally to its other directors and officers, as may be amended from time to time for such directors and officers. 
  

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 7. Non-Solicitation. 
 During the Employment Period and for eighteen months thereafter, the Executive hereby agrees not to, directly or indirectly, solicit or hire or assist any other person or entity in soliciting or hiring any employee of
the Company or any of its affiliates to perform services for any entity (other than the Company or its affiliates), or attempt to induce any such employee to leave the employ of the Company or its affiliates, or solicit, hire or engage on behalf of
himself or any other Person (as defined below) any employee of the Company or anyone who was employed by the Company during the six-month period preceding such hiring or engagement. 
 8. Confidentiality; Non-Compete; Non-Disclosure; Non-Disparagement. 
 (a) The Executive hereby agrees that, during the Employment Period and thereafter, he will hold in strict confidence any proprietary or Confidential Information related to the Company and its affiliates. For purposes
of this Agreement, the term “Confidential Information” shall mean all information of the Company or any of its affiliates (in whatever form) which is not generally known to the public, including without limitation any inventions,
processes, methods of distribution, customer lists or customers’ or trade secrets. 
 (b) The Executive and the Company agree that the
Company would likely suffer significant harm from the Executive’s competing with the Company during the Employment Period and for some period of time thereafter. Accordingly, the Executive agrees that he will not, during the Employment Period
and for a period of eighteen months following the termination of the Employment Period, directly or indirectly, become employed by, engage in business with, serve as an agent or consultant to, become a partner, member, principal, stockholder or
other owner (other than a holder of less than 1% of the outstanding voting shares of any publicly held company) of, any Person competitive with, or otherwise perform services relating to, the business of the Company at the time of the termination
for any Person (the “Business”) (whether or not for compensation). For purposes of this Agreement, the term “Person” shall mean any individual, partnership, corporation, limited liability company, unincorporated
organization, trust or joint venture, or a governmental agency or political subdivision thereof that is engaged in the Business, or otherwise competes with the Company, anywhere in which the Company or its affiliates engage in or intend to engage in
the Business or where the Company or its affiliates’ customers are located. 
 (c) The Executive hereby agrees that, upon the
termination of the Employment Period, he shall not take, without the prior written consent of the Company, any drawing, blueprint, specification or other document (in whatever form) of the Company or its affiliates, which is of a confidential nature
relating to the Company or its affiliates, or, without limitation, relating to its or their methods of distribution, or any description of any formulas or secret processes and will return any such information (in whatever form) then in his
possession. 
 (d) The Executive hereby agrees not to defame or disparage the Company, its affiliates and their officers, directors, members
or executives. The Executive hereby agrees to cooperate with the Company in refuting any defamatory or disparaging remarks by any third party made in respect of the Company or its affiliates or their directors, members, officers or executives.

  

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 9. Injunctive Relief. 
 It is impossible to measure in money the damages that will accrue to the Company in the event that the Executive breaches any of the restrictive covenants
provided in Sections 7 and 8 hereof. In the event that the Executive breaches any such restrictive covenant, the Company shall be entitled to an injunction restraining the Executive from violating such restrictive covenant (without posting any
bond). If the Company shall institute any action or proceeding to enforce any such restrictive covenant, the Executive hereby waives the claim or defense that the Company has an adequate remedy at law and agrees not to assert in any such action or
proceeding the claim or defense that the Company has an adequate remedy at law. The foregoing shall not prejudice the Company’s right to require the Executive to account for and pay over to the Company, and the Executive hereby agrees to
account for and pay over, the compensation, profits, monies, accruals or other benefits derived or received by the Executive as a result of any transaction constituting a breach of any of the restrictive covenants provided in Sections 7 and 8
hereof. 
 10. Section 280G. If, after the Effective Date, there occurs a transaction that constitutes a “change of
control” under Regulation 1.280G of the Internal Revenue Code of 1986, as amended (the “Code”), the Parent and the Executive shall use commercially reasonable best efforts to take such actions as may be necessary to avoid the
imposition of any the excise tax imposed by Section 4999 of the Code on the Executive, including seeking to obtain stockholder approval in accordance with the terms of Section 280G(b)(5). 
 11. Miscellaneous. 
 (a) Any notice or
other communication required or permitted under this Agreement shall be effective only if it is in writing and shall be deemed to be given when delivered personally or four days after it is mailed by registered or certified mail, postage prepaid,
return receipt requested or one day after it is sent by a reputable overnight courier service and, in each case, addressed as follows (or if it is sent through any other method agreed upon by the parties): 
 If to the Company: 
 Aleris International,
Inc. 
 25825 Science Park Drive 
 Suite 400 
 Beachwood, Ohio 44122 
 Facsimile. 216-910-3650 
 Attn: General Counsel 
 with a copy to: 
 Robert J. Raymond

 Cleary, Gottlieb, Steen & Hamilton LLP 
 One Liberty Plaza 
 New York, NY 10006 
  

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 If to the Parent: 
 301 Commerce Street, Suite 3300 
 Fort Worth, TX 76102 
 Attention: General Counsel 
 with a copy to:

 Robert J. Raymond 
 Cleary,
Gottlieb, Steen & Hamilton LLP 
 One Liberty Plaza 
 New York, NY 10006 
 If to the Executive: 
 Kevin Brown 
 1747 Cypress Pointe Court

 Ann Arbor, MI 48108 
 or to such other address
as any party hereto may designate by notice to the others. 
 (b) This Agreement shall constitute the entire agreement among the parties
hereto with respect to the Executive’s employment hereunder, and supersedes and is in full substitution for any and all prior understandings or agreements with respect to the Executive’s employment (it being understood that any Options and
Shares shall be governed by the relevant Equity Agreements). The Executive’s employment with the Company for purposes of this Agreement shall include the Executive’s employment by any direct or indirect subsidiary of the Parent or the
Company. 
 (c) This Agreement may be amended only by an instrument in writing signed by the parties hereto, and any provision hereof may be
waived only by an instrument in writing signed by the party or parties against whom or which enforcement of such waiver is sought. The failure of any party hereto at any time to require the performance by any other party hereto of any provision
hereof shall in no way affect the full right to require such performance at any time thereafter, nor shall the waiver by any party hereto of a breach of any provision hereof be taken or held to be a waiver of any succeeding breach of such provision
or a waiver of the provision itself or a waiver of any other provision of this Agreement. 
 (d) The parties hereto acknowledge and agree
that each party has reviewed and negotiated the terms and provisions of this Agreement and has had the opportunity to contribute to its revision. Accordingly, the rule of construction to the effect that ambiguities are resolved against the drafting
party shall not be employed in the interpretation of this Agreement. Rather, the terms of this Agreement shall be construed fairly as to both parties hereto and not in favor or against either party. 
 (e) (i) This Agreement is binding on and is for the benefit of the parties hereto and their respective successors, assigns, heirs, executors,
administrators and other legal representatives. Neither this Agreement nor any right or obligation hereunder may be assigned by the Executive. 
  

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 (ii) The Company shall require any successor (whether direct or indirect, by purchase, merger,
consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume this Agreement in the same manner and to the same extent that the Company would have been required to perform it if no such succession had
taken place. As used in the Agreement, “the Company” shall mean both the Company as defined above and any such successor that assumes this Agreement, by operation of law or otherwise. 
 (f) Any provision of this Agreement (or portion thereof) which is deemed invalid, illegal or unenforceable in any jurisdiction shall, as to that
jurisdiction and subject to this Section, be ineffective to the extent of such invalidity, illegality or unenforceability, without affecting in any way the remaining provisions thereof in such jurisdiction or rendering that or any other provisions
of this Agreement invalid, illegal, or unenforceable in any other jurisdiction. If any covenant should be deemed invalid, illegal or unenforceable because its scope is considered excessive, such covenant shall be modified so that the scope of the
covenant is reduced only to the minimum extent necessary to render the modified covenant valid, legal and enforceable. No waiver of any provision or violation of this Agreement by the Company shall be implied by the Company’s forbearance or
failure to take action. 
 (g) The Company may withhold from any amounts payable to the Executive hereunder all federal, state, city or other
taxes that the Company may reasonably determine are required to be withheld pursuant to any applicable law or regulation, (it being understood, that the Executive shall be responsible for payment of all taxes in respect of the payments and benefits
provided herein). 
 (h) This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware
without reference to its principles of conflicts of law. 
 (i) This Agreement may be executed in several counterparts, each of which shall
be deemed an original, but all of which shall constitute one and the same instrument. A facsimile of a signature shall be deemed to be and have the effect of an original signature. 
 (j) The headings in this Agreement are inserted for convenience of reference only and shall not be a part of or control or affect the meaning of any
provision hereof. 
 (k) Notwithstanding anything to the contrary herein, in the event any payment hereunder would result in the imposition
of an excise tax pursuant to Section 409A of the Code or the regulations thereunder, as amended (the “409A Excise Tax”), the Executive agrees that such payment shall be postponed to the date that is the earliest date upon which
such payment would no longer result in the imposition of a 409A Excise Tax. 
  

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 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

  

			
	EXECUTIVE
		
		 	 /S/ KEVIN BROWN

	Name:	 	Kevin Brown
	
	ALERIS INTERNATIONAL, INC.
		
		 	 /S/ CHRISTOPHER R. CLEGG

	Name:	 	Christopher R. Clegg
	Title:	 	EVP, General Counsel & Secretary
	
	AURORA ACQUISITION HOLDINGS, INC.
		
		 	 /S/ CHRISTOPHER R. CLEGG

	Name:	 	Christopher R. Clegg
	Title:	 	EVP, General Counsel & Secretary

  

 11Form of Long-Term Incentive Award Letter

 EXHIBIT 10.1 
 [Form of Long-Term Incentive Award Letter] 
 Visant Holding Corp. 
 [date]                 
 [Participant] 
 c/o Visant Holding Corp. 
 357 Main Street 
 Armonk, NY 10504 
 Dear                     : 
 Visant Holding Corp. (“VHC”) and its subsidiaries (together, the “Company”) consider it essential to continue to provide incentives
for key personnel of the Company to remain employed with the Company and focused on achieving a high level of performance aligned with the interests of the stockholders of VHC. 
 On behalf of the Board of Directors of VHC (the “Board”), I am pleased to inform you that you have been selected to receive an Award, subject
in all instances to the terms and conditions of this Award Letter, and to your agreement to be bound by the covenants contained in Section 7 below. In consideration of the foregoing, you and the Company agree to the following:

 Section 1. Definitions. As used in this Award Letter, the following terms shall have the meanings set forth below: 
 “Account” means a notional account maintained by the Company for you for purposes of determining amounts that will be payable to
you, subject to the terms of this Award Letter. 
 “Affiliate” means with respect to any Person, any entity directly
or indirectly controlling, controlled by or under common control with such Person. 
 “Award” means any award of
shares of Phantom Stock made under Section 2. 
 “Cause” means, “Cause” as such term may be defined
in any employment agreement, change in control agreement or severance agreement between you and VHC or any of its Subsidiaries or Affiliates (the “Employment Agreement”), or, if there is no such Employment Agreement, “Cause”
shall mean (i) your willful and continued failure to perform your material duties with respect to the Company which continues beyond ten (10) days after a written demand for substantial performance is delivered to you by the VHC (the
“Cure Period”), (ii) the willful or intentional engaging by you in conduct that causes material and demonstrable injury, monetarily or otherwise, to the Company, the Investors or their respective Affiliates, (iii) the commission
by you of a crime constituting (A) a felony under the laws of the United States or any state thereof or (B) a misdemeanor involving moral turpitude, or (iv) a material breach by you of this Award Letter or other agreements with the
Company, including, without limitation, engaging in any action in breach of restrictive covenants, herein or therein, that continues beyond the Cure Period (to the extent that, in the Board’s reasonable judgment, such breach can be cured).

 “Change in Control” means, (i) the sale (in one transaction or a series of transactions) of all or
substantially all of the assets of VHC to an Unaffiliated Person; (ii) a sale (in one transaction or a series of transactions) resulting in more than 50% of the voting stock of VHC 

 
being held by an Unaffiliated Person; (iii) a merger, consolidation, recapitalization or reorganization of VHC with or into another Unaffiliated Person;
if and only if any such event listed in clauses (i) through (iii) above results in the inability of the Investors, or any member or members of the Investors, to designate or elect a majority of the Board (or the board of directors
of the resulting entity or its parent company). For purposes of this definition, the term “Unaffiliated Person” means any Person or Group who is not (x) an Investor or any member of the Investors, (y) an Affiliate of any Investor
or any member of any Investor, or (z) an entity in which any Investor, or any member of any Investor holds, directly or indirectly, a majority of the economic interests in such entity. 
 “Code” means the United States Internal Revenue Code of 1986, as amended. 
 “Committee” means the Compensation Committee of the Board (or, if no such committee is appointed, the Board). 
 “Common Stock” or “Share” means the Class A common stock, par value $0.01 per share, of VHC, which may be
authorized but unissued, or issued and reacquired. 
 “EBITDA” means “EBITDA” as such term is defined in
this Award Letter. 
 “Employee” means a person, including an officer, in the regular employment of the Company or
any other Service Recipient who, in the opinion of the Committee, is, or is expected to have involvement in the management, growth or protection of some part or all of the business of the Company or any other Service Recipient. 
 “Fair Market Value” means the price per share equal, as of the Vesting Event, to (i) after a Public Offering but before a
Qualified Public Offering, (a) the average of the last sale price of the Common Stock on the applicable date on each stock exchange on which the Common Stock may at the time be listed or, (b) if there shall have been no sales on any such
exchanges on the applicable date on any given day, the average of the closing bid and asked prices of the Common Stock on each such exchange on the applicable date or, (c) if there is no such bid and asked price on the applicable date, the
average of the closing bid and asked prices of the Common Stock on the next preceding date when such bid and asked price occurred or, (d) if the Common Stock shall not be so listed, the closing sales price of the Common Stock as reported by
NASDAQ on the applicable date in the over-the-counter market, (ii) following a Qualified Public Offering, the closing sale price of the Common Stock on the applicable date as reported on the primary exchange on which the Common Stock is traded
(or, if no such sale occurs on the applicable date, such closing sale price as was reported on the next preceding date when such closing sale price occurred) or (iii) if there has been no Public Offering, the fair market value of the Common
Stock as determined (x) in the good faith discretion of the Board after consultation with an independent investment banker or an internationally recognized accounting firm to determine the Fair Market Value and (y) without any premiums for
control or discounts for minority interests or restrictions on transfer. 
 “Good Reason” means “Good Reason” as such term is defined in the Employment Agreement, or if there is no such Employment Agreement, “Good Reason” shall mean (i) a reduction in your base salary or annual
incentive compensation opportunity (other than a general reduction in base salary or annual incentive compensation opportunity that affects all members of senior management in substantially the same proportions, provided that your base salary
is not reduced by more than 10%); (ii) a substantial reduction in your duties and responsibilities; or (iii) a transfer of your primary workplace by more than fifty miles from the current workplace, and provided, further,
that “Good Reason” shall cease to exist for any such event on the 60th day following the later of its occurrence or your knowledge
thereof, unless you have given the VHC written notice thereof prior to such date. 
  

 2 

 “Group” means, “group” as such term is used for purposes of Sections
13(d) or 14(d) of the Exchange Act. 
 “Investors” means Fusion Acquisition LLC, a Delaware limited liability
company (“Fusion”), and DLJ Merchant Banking Partners III, L.P., DLJ Offshore Partners III-1, C.V., DLJ Offshore Partners III-2, C.V., DLJ Offshore Partners III, C.V., DLJ MB Partners III GmbH & Co. KG, Millennium Partners II,
L.P. MBP III Plan Investors, L.P (collectively, the “DLJMB Funds”). 
 “Permanent Disability” means
“Disability” as such term is defined in the Employment Agreement, or if there is no such Employment Agreement, “Permanent Disability” shall mean you becoming physically or mentally incapacitated and is therefore unable for a
period of six (6) consecutive months or for an aggregate of nine (9) months in any eighteen (18) consecutive month period to perform substantially all of the material elements of your duties with VHC or any Subsidiary or Affiliate
thereof. Any question as to the existence of the Permanent Disability of you as to which you (or your legal representative) and VHC cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to you (or your
legal representative) and VHC. If you (or your legal representative) and VHC cannot agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who shall make such determination in
writing. The determination of Permanent Disability made in writing to VHC and you shall be final and conclusive for all purposes of this Agreement (such inability is hereinafter referred to as “Permanent Disability” or being
“Permanently Disabled”). 
 “Person” means “person,” as such term is used for purposes of
Section 13(d) or 14(d) of the Exchange Act. 
 “Phantom Stock” means the right to receive a payment based on
the value of Common Stock in accordance with Section 5 hereto. 
 “Public Offering” means the sale of shares of
Common Stock to the public subsequent to the date hereof pursuant to a registration statement under the Securities Act of 1933, as amended, which has been declared effective by the Securities and Exchange Commission (other than a registration
statement on Form S-4, S-8 or any other similar form). 
 “Qualified Public Offering” means a Public Offering,
which results in an active trading market of 25% or more of the Common Stock. 
 “Qualifying Termination” means the
occurrence of a termination of your employment by the Company without Cause, by you with Good Reason, or due to your Permanent Disability or death, in each case, within twelve months following a Change in Control and prior to the last day of the
June 2010 Fiscal Quarter. 
 “Service Recipient” means the Company, any Subsidiary of the Company, or any Affiliate
of the Company that satisfies the definition of “service recipient” within the meaning of Treasury Regulation Section 1.409A-1 (or any successor regulation), with respect to which the person is a “service provider” (within
the meaning of Treasury Regulation Section 1.409A-1(or any successor regulation)). 
 “Subsidiary” means any
corporation or other entity in an unbroken chain of corporations or other entities beginning with the Company if each of the corporations or other entities, or group of commonly controlled corporations or other entities, other than the last
corporation or other entity in the unbroken chain then owns stock or other equity interests possessing 50% or more of the total combined voting power of all classes of stock or other equity interests in one of the other corporations or other
entities in such chain. 
  

 3 

 Section 2. Award. 
 (a) The Company hereby grants you a target number of shares of Phantom Stock equal to                     
(the “Target Award”). The number of shares of Phantom Stock in respect of which you will ultimately receive payment hereunder is based on the vesting of the Award as provided in Section 3 below, subject to your continued employment
with the Company through the Vesting Event (as defined below). 
 (b) You shall not be vested in any Award by reason of having Phantom Stock
credited to your Account unless the vesting conditions as set forth in Section 3 of this Award Letter are deemed satisfied by the Committee. 
 Section 3. Vesting of Award. You will become vested in this Award as set forth in Schedule I attached hereto based on the achievement level of EBITDA, so long as you remain employed with the Company through the last day of the
fiscal quarter ended closest to June 30, 2010 (the “June 2010 Fiscal Quarter”). Notwithstanding the foregoing, Awards shall vest as to one hundred percent (100%) of the Target Award granted to you upon the occurrence of a
Qualifying Termination, so long as you remain employed with the Company through the date of such event. Upon such occurrence, you will cease to be entitled to earn any additional percentage of the Target Award. 
 Section 4. Effect of non-Qualifying Termination of Employment. In the event of a voluntary or involuntary termination of your employment with the Company
that is not a Qualifying Termination at any time prior to the last day of the June 2010 Fiscal Quarter, the Phantom Stock shall be forfeited without payment therefor. In the event of your voluntary or involuntary termination of employment with the
Company for any reason and at any time after the last day of the June 2010 Fiscal Quarter, but prior to the payment date specified in Section 5(c)(i), payment will be made to you, when payment would have been otherwise been paid if you had
remained employed with the Company. 
 Section 5. Calculation of Payment of Awards; Form of Payment. 
 (a) The amount that will be payable to you under this Award will be calculated, and any amounts payable in respect of this Award will be paid, in
accordance with this Section 5, subject to your agreement to be bound by the covenants contained in Section 7 of this Award Letter. As an exception to the foregoing, the parties acknowledge and agree that an executive officer of VHC shall
have the right, in his or her sole discretion, to reduce the scope of any covenant set forth in Section 7 of this Award Letter or any portion thereof, effective as to you immediately upon receipt by you of written notice thereof from the
Company. 
 (b) Any Award shall, as of a vesting event described in Section 3 above (each such event, a “Vesting Event”),
become payable to you in an amount equal to the product of (x) the number of shares of Phantom Stock credited to your Account under any given Award as of the date of the occurrence of a Vesting Event and (y) the Fair Market Value of one
share of Common Stock as of the date of such Vesting Event. For the avoidance of doubt, if applicable, the amount payable in respect of each Award granted to you shall be calculated separately as provided herein, and then all such amounts shall be
added together to determine the total amount payable under all Awards granted to you that have become vested and payable on the Vesting Event (the “Phantom Stock Value”). 
 (c) You (or your estate or personal representative, as applicable) shall be paid an amount, in
cash, equal to your respective Phantom Stock Value in a lump sum, as soon as practicable after the occurrence of (i) a Vesting Event that is not a Qualifying Termination (and the completion of a financial statement review or audit to confirm
EBITDA), but no later than December 31, 2010, or (ii) a Qualifying Termination, but no later than March 14th of the calendar year
following the calendar year in which the Qualifying Termination occurs (without regard to a review or audit of the financial statements or the achievement level of EBITDA). 
  

 4 

 Section 6. Adjustments. In the event of any change in the outstanding Common Stock by reason of a stock
split, spin-off, stock combination, reclassification, recapitalization, liquidation, dissolution, reorganization, merger, Change in Control, or other event affecting the capital stock of the Company, the Committee shall adjust appropriately
(a) the number and kind of shares covered by Awards and (b) share prices related to outstanding Awards, and make such other revisions to outstanding Awards as it deems, in good faith, are equitably required. Any such adjustment made by the
Committee (or the Board) shall be final and binding upon you and the Company. 
 Section 7. Covenants Not to Disclose Confidential Information, Not
to Solicit Company Customers and Not to Solicit or Offer Employment to Company Employees. 
 (a) At any time during or after your
employment with the Company, you will not disclose any Confidential Information pertaining to the business of the Company, its subsidiaries, the Investors and their Rule 405 Affiliates (collectively, the “Restricted Group”), except when
required to perform your duties to the Company or one of its subsidiaries, by law or judicial process. For purposes of this Award Letter, “Confidential Information” means all non-public information concerning trade secret, know-how,
software, developments, inventions, processes, technology, designs, the financial data, strategic business plans or any proprietary or confidential information, documents or materials in any form or media, including any of the foregoing relating to
research, operations, finances, current and proposed products and services, vendors, customers, advertising and marketing, and other non-public, proprietary, and confidential information of the Restricted Group. If you are bound by any other
agreement with the Company regarding the use or disclosure of Confidential Information, the provisions of this Agreement shall be read in such a way as to further restrict and not permit any more extensive use or disclosure of Confidential
Information. 
 (b) At any time during your employment with the Company and for a period of two (2) years thereafter, you will not,
directly or indirectly (A) act as a proprietor, investor, director, officer, employee, substantial stockholder, consultant, or partner in any business that directly or indirectly competes with the business of the Company in, (1) school
photography services or school-related clothing, affinity products and services, including yearbooks, (2) memory books, (3) commercial printing and binding, (4) printing services to companies engaged in direct marketing,
(5) fragrance, cosmetics and toiletries-related sampling or (6) single use packaging for fragrances, cosmetics and toiletries, in North America in the case of clauses (1) through (4) and in North America and Europe in the case of
clauses (5) and (6), or (B) solicit customers or clients of any member of the Restricted Group to terminate their relationship with any such member of the Restricted Group or otherwise solicit such customers or clients to compete with any
business of any member of the Restricted Group or (C) solicit or offer employment to any person who is, or has been at any time during the twelve (12) months immediately preceding the termination of your employment, employed by the Company
or any of its Affiliates. 
 (c) If at any time a court holds that the restrictions stated in clauses (a) or (b) are unreasonable
or otherwise unenforceable under circumstances then existing, the parties hereto agree that the maximum period, scope or geographic area determined to be reasonable under such circumstances by such court will be substituted for the stated period,
scope or area. Because you have had access to Confidential Information, you agree that money damages will be an inadequate remedy for any breach of this Section 7. In the event of a breach or threatened breach of this Section 7, the
Company or its successors or assigns may, in addition to other rights and remedies existing in their favor, apply to any court of competent jurisdiction for specific performance and/or injunctive relief in order to enforce 

  

 5 

 
against you, or prevent any violations by you of, the provisions hereof (without the posting of a bond or other security), and in the event of an actual
breach of this Section 7, terminate this Award Letter without any payment hereunder or other consideration to you, or if payment shall have already been made hereunder, you shall be required to pay to the Company any amounts actually paid to
you in respect of the Phantom Stock. 
 (d) As an exception to the foregoing, the parties acknowledge and agree that an executive officer of
VHC shall have the right, in his or her sole discretion, to reduce the scope of any covenant set forth in this Award Letter or any portion thereof, effective as to you immediately upon receipt by you of written notice thereof from the Company.

 Section 8. General Provisions. 
 (a) Amendment. The Committee or the Board shall have the authority to make such amendments to any terms and conditions applicable to outstanding Awards as are consistent with this Award Letter; provided that no such action shall
modify any Award in a manner materially adverse to you without your consent except as such modification is provided for or contemplated in the terms of the Award or this Award Letter (except that any adjustment that is made pursuant to
Section 6 shall be made by the Committee or the Board reasonably and in good faith). 
 (b) This Award and any payments in respect
hereof will not be taken into account for purposes of determining any benefits under any benefit plan of the Company. 
 (c)
Nontransferability. No Award may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by you otherwise than by will or by the laws of descent and distribution, and any such purported assignment, alienation,
pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate; provided that the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer
or encumbrance. 
 (d) Transfers and Leaves of Absence. Unless the Committee determines otherwise: (a) a transfer of your
employment without an intervening period of separation among the Company and any other Service Recipient shall not be deemed a termination of employment, and (b) if you are granted in writing a leave of absence or you are entitled to a
statutory leave of absence, you shall be deemed to have remained in the employ of the Company (and other Service Recipient) during such leave of absence. 
 (e) Withholding. The Company shall have the right to deduct from any payment made under the this Award Letter any federal, state or local income or other taxes required by law to be withheld with respect to
such payment. 
 (f) No Right to Employment. The grant of an Award shall not be construed as giving you the right to be retained in
the employ of, or in any consulting relationship to, the Company or any Affiliate. 
 (g) Section 409A of the Code. This Award
Letter is intended to comply with Section 409A of the Code and will be interpreted in a manner intended to comply with Section 409A of the Code. Notwithstanding anything herein to the contrary, if at the time of your termination of
employment with any Service Recipient you are a “specified employee” as defined in Section 409A of the Code, and the deferral of the commencement of any payments or benefits otherwise payable hereunder as a result of 

  

 6 

 
such termination of service is necessary in order to prevent the imposition of any accelerated or additional tax under Section 409A of the Code, then
the Company will defer the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to you) to the minimum extent necessary to satisfy Section 409A
until the date that is six months and one day following your termination of employment with all Service Recipients (or the earliest date as is permitted under Section 409A of the Code), if such payment or benefit is payable upon a termination
of employment. 
 (h) Governing Law. This Award Letter shall be governed by and construed in accordance with the laws of the State of
New York applicable therein. 
 (i) Severability. If any provision of this Award Letter is or becomes or is deemed to be invalid,
illegal, or unenforceable in any jurisdiction or as to any Person or Award, or would disqualify the Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if
it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of this Award Letter, such provision shall be stricken as to such jurisdiction, Person or Award and the remainder of this Award
Letter and any such Award shall remain in full force and effect. 
 (j) Binding upon Successors and Assigns. This Award Letter shall
be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, provided that any assignment, by operation of law or otherwise, by you shall require the prior written consent of VHC and any purported
assignment or other transfer without such consent shall be void and unenforceable. 
 (k) No Trust or Fund Created. Neither this Award
Letter nor any Award shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any Affiliate and you or any other Person. To the extent that you acquire a right to receive payments
from the Company or any Affiliate pursuant to an Award, such right shall be no greater than the right of any unsecured general creditor of the Company or any Affiliate. 
 (l) Headings. Headings are given to the Sections and subsections of this Award Letter solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the
construction or interpretation of the Plan or any provision thereof. 
 Section 9. Administration. 
 (a) The Committee shall have the power and authority to administer, construe and interpret this Award Letter, to make rules for carrying it out and to
make changes in such rules. Any such interpretations, rules, and administration shall be consistent with the basic purposes of this Award Letter. 
 (b) The Committee may delegate to the Chief Executive Officer of VHC and to other senior officers of the Company its duties under this Award Letter subject to such conditions and limitations as the Committee shall prescribe. 
 (c) The Committee may employ counsel, consultants, accountants, appraisers, brokers or other persons. The Committee, the Company, and the officers and
directors of the Company shall be entitled to rely upon the advice, opinions or valuations of any such persons. All actions taken and all interpretations and determinations made by the Committee in good faith shall be final and binding. No member of
the Committee, nor employee or representative of the Company shall be personally liable for any action, determination or interpretation made in good faith with respect to the Award, and all such members of the Committee, employees and
representatives shall be fully protected and indemnified to the greatest extent permitted by applicable law by the Company with respect to any such action, determination or interpretation. 
  

 7 

 If you accept this Award on the terms and conditions contained in this Award Letter, please sign below
where indicated and return an executed copy of this Award Letter to                  by
                    . 
 This
Award Letter may be executed in counterparts. 
  

	
	Very truly yours,
	
	  
	Marc L. Reisch
	Chief Executive Officer
	
	On behalf of Visant Holding Corp.

 Accepted and agreed this          day of
                        , 2008, by 
  

	
	
	  
	[Participant]

  

 8 

 Annex A 
 Definition of “EBITDA” 
 For purposes of the Award, “EBITDA” for any period shall mean the
consolidated net income of VHC and its subsidiaries, for such period, adjusted, as applicable, by the following items (without duplication, to the extent deducted or added in calculating consolidated net income): 
  

	 	(a)	provision for income taxes (or income tax benefit); 

  

	 	(b)	net interest expense (including the cost of any surety bonds and net of any net gain or loss resulting from hedging obligations); 

  

	 	(c)	depreciation and amortization expense; 

  

	 	(d)	expenses or charges related to any equity or debt offering, recapitalization, acquisition, or disposition; 

  

	 	(e)	restructuring charges, including any one-time costs related to the closure and/or consolidation of facilities; 

  

	 	(f)	gain or loss on the disposal of fixed assets; 

  

	 	(g)	other non-cash and/or one-time charges (or credits), excluding any such charge or credit that represents an accrual or reserve (or reversal of an accrual or reserve) for a cash
expenditure for a future period; 

  

	 	(h)	expenses related to management, monitoring, consulting and advisory fees and related expenses paid to either Fusion and its Affiliates or the DLJMB Funds; 

 

	 	(i)	change in generally accepted accounting principles, rules or regulations after the date of this Award Letter; and 

  

	 	(j)	change in allocation of costs or cost savings after the date of this Award Letter. 

 The Board may adjust the calculation of EBITDA above to reflect acquisitions, divestitures, large capital expenditures or other occurrences or conditions which they in good faith determine require adjustment of EBITDA
in order to be consistent with the financial case used to establish the performance targets. In the event that the foregoing action is taken, such adjustment(s) shall be only the amount deemed reasonably necessary by the Board, in the exercise
of its good faith judgment, after consultation with the Company’s accountants, to accurately reflect the direct and measurable effect such occurrences or conditions have on such performance targets. The Board’s determination of such
necessary adjustment(s) shall be made within sixty (60) days following the conclusion of the audit (or if no audit is conducted, the review of the financials by the Company’s independent accountants) for the respective fiscal period, and
shall be based on the Company’s accounting as set forth in its books and records and on the financial case used to establish the performance targets. 
  

 9

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