Document:

Retirement Agreement, dated as of March 31, 2008--Steven Willensky

 Exhibit 10(xxxiii) 
 March 28, 2008 
 Steven W. Willensky 
 1937 Woodstock Road 
 Gates Mills, OH 44040 
 Dear Steve: 
 This Letter
Agreement, together with Exhibit A (“General Release”) attached hereto (collectively, the “Agreement”), reflects our mutual understanding regarding your separation from employment as a result of your resignation from American
Greetings Corporation (the “Company”, and together with its subsidiaries and affiliates, “American Greetings”) and sets forth the benefits that you will be eligible to receive under this Agreement. 
 1. Separation. You have advised us that you will resign from American Greetings as of the close of business on April 30, 2008
(the “Separation Date”). You acknowledge and agree that as of the Separation Date, you will cease to be an employee of American Greetings and will no longer be eligible for or receive any benefits of employment and that the only benefits
you will receive from American Greetings are those described in this Agreement; provided, however, that this Agreement does not waive any benefits you may be eligible to receive under American Greetings’ Supplemental Executive Retirement Plan,
any stock option plan, deferred compensation plan, or the Retirement Profit Sharing and Savings Plan. You acknowledge and agree that the benefits you will receive under this Agreement are intended by you and American Greetings to supersede all
benefits payable to you upon termination of employment described in your employment offer letters dated August 19 and 23, 2002, and September 9, 2002, and that as of the Separation Date, these offer letters will no longer have any force
and effect. You understand and acknowledge that as of the Separation Date, you shall have no authority or permission to hold yourself out as being in any way connected with or interested in the business of American Greetings or any of its
subsidiaries and you will have no authority to take any action on behalf of or otherwise bind American Greetings. 
 2.
Payments Through the Separation Date. Until the close of business on the Separation Date, you will continue to receive (i) salary payments at your current annual base salary rate (less applicable withholdings and deductions), paid in
accordance with American Greetings’ payroll practices in the ordinary course; and (ii) the benefits at the level and of the type you currently receive. 
 3. Separation Benefits. If you sign the General Release in the form attached as Exhibit A, and it becomes effective as explained below, you will receive the following benefits, subject to
the conditions and restrictions and in the manner and time frames described in this Section. You acknowledge and agree that certain of the benefits differ from and/or are greater than benefits you would otherwise be eligible to receive upon
resignation, absent this Agreement. 

	
	 a. Continued health care coverage, concurrently with COBRA, from the Separation Date through
April 30, 2011, in the plan in which you are enrolled at the Separation Date, at the Senior Vice President active employee payroll deduction rate, as it may be changed from time-to-time. From April 30, 2011 until the later of when you or
your wife, Judy Willensky, reaches the age of 65, continued health care coverage at the Senior Vice President level, but at the full age-adjusted rate, as it may be changed from time-to-time, with no Company contribution.
  
 b. You will have continued use
of your company car through June 30, 2008, at which time you will return the car to American Greetings.
  
 c. You will continue your ownership interest in the executive life insurance plan provided by American Greetings
until the assets in that plan are depleted.
  
 d. Stock options granted to you prior to the Separation Date will continue to vest and be exercisable according to the terms of the stock option plan(s) through April 30, 2011, as if you were actively employed.
All stock options not exercised as of April 30, 2011 will be forfeited.

 4. Consulting Services. Following the Separation Date, American Greetings may engage you
from time to time, at its discretion, to perform consulting services on dates that are mutually agreed upon. American Greetings will pay you $2,000 per day plus expenses for such consulting. 
 5. Confidentiality of this Agreement. You agree to keep confidential all terms of this Agreement that are not in the public domain at the time of your disclosure. You may, however,
disclose the terms of this Agreement to your attorneys, accountants, tax advisors, and immediate family members (who must be informed of and agree to be bound by the terms of this paragraph), and any governmental taxing authority. American Greetings
reserves the right to disclose the terms of this Agreement to comply with any governmental or regulatory disclosure obligation. 
 6.
Confidentiality & Non-Disclosure. You acknowledge that you have an obligation of confidence and non-disclosure with respect to any and all confidential information and trade secrets that you acquired during the course of employment
with American Greetings. This obligation of confidence and non-disclosure extends to both American Greetings’ information and third-party information held by American Greetings in confidence, and this obligation continues after the Separation
Date. You are prohibited from using or disclosing such information. You agree that you will not accept or become employed or retained in any capacity 

  

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whatsoever by any person or entity where such employment or other capacity requires you to disclose or use confidential information, or where such employment
or other capacity will, or may cause or reasonably lead to, the inevitable, necessary or effective disclosure or use of confidential information whether through express, implicit, indirect, intentional or unintentional means. You also agree that you
will return to American Greetings any and all American Greetings or its subsidiaries property and information that came into your possession, or which you prepared or helped prepare, in connection with or during your employment. You will not retain
any copies of such property or information. 
 7. Reasonable Cooperation. 
 a. Transfer of job responsibilities. As directed by the senior management of American Greetings or its subsidiaries, you shall
fully cooperate in transferring to designated American Greetings employees all of your responsibilities and duties with regard to American Greetings’ business operations, including but not limited to any powers of attorney executed by you or on
your behalf for the benefit of American Greetings or any of its subsidiaries. 
 b. Legal matters. You agree to
cooperate with American Greetings and its attorneys as may be reasonably required concerning any past, present or future legal matters that relate to or arise out of your employment with American Greetings, with the understanding that any meetings
you are required to attend are scheduled during normal business hours at mutually agreeable times. You acknowledge that you have advised the Company’s General Counsel of all facts of which you are aware that constitute or might constitute
violations of the Company’s ethical standards or legal obligations. The Company agrees to reimburse you for any and all reasonable costs and expenses (including but not limited to reasonable attorneys’ fees) you may incur in connection
with such cooperation. 
 c. Indemnification. You shall be indemnified for acts and omissions occurring on or prior to
the Separation Date to the fullest extent permitted under applicable law. You shall be covered under the Company’s directors’ and officers’ liability insurance policies in effect from time to time on the same basis that other former
directors and officers are covered. 
 8. Non-Competition & Non-Solicitation. You acknowledge and agree that from the
Separation Date through April 30, 2011, you will not enter into the employment or solicit any American Greetings’ employee to enter into the employment, directly or indirectly or in a consulting or free lance capacity, of any person, firm
or corporation in the United States, Canada or Mexico, which designs, manufactures or sells products that are substantially similar in nature to the social expression products designed, manufactured or sold by American Greetings or any of its
affiliated entities or subsidiaries. You agree that you have carefully considered the nature and extent of the restrictions upon you and acknowledge and agree that the same are reasonable in time 

  

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and geographic limitation, are designed to eliminate competition which would otherwise be unfair to American Greetings, do not stifle your inherent skill and
experience, would not operate as a bar to your sole means of support, are fully required to protect the legitimate interests of American Greetings and do not confer a benefit upon the company disproportionate to the detriment to you. You also
acknowledge and agree that the remedy at law available to the Company for breach by you of any of your obligations under Sections 6 and/or 8 of this Agreement would be inadequate and that damages flowing from such a breach would not readily be
susceptible to being measured in monetary terms. Accordingly, you acknowledge, consent and agree that, in addition to any other rights or remedies which American Greetings may have at law, in equity or under this Agreement, upon adequate proof of
your violation of any provision of paragraphs 6 and/or 8 of this Agreement, American Greetings will be entitled to immediate injunctive relief and may obtain a temporary order restraining any threatened or further breach, without the necessity of
proof of actual damage. 
 9. Non-Disparagement. You agree not to disparage or denigrate American Greetings or its directors or
executive officers orally or in writing. American Greetings agrees not to disparage or denigrate you orally or in writing, and agrees to use its reasonable best efforts to cause its directors and executive officers not to disparage or denigrate you.
Notwithstanding this mutual, non-disparagement provision, it shall not be a violation of this Section 9 for any person to make truthful statements when required by order of a court or other body having jurisdiction, or as otherwise may be
required by law. 
 10. No Admission of Liability. This Agreement is not intended to constitute and should not be construed as
constituting an admission of fault, wrongdoing or liability by either party, but rather reflects the parties’ desire to fairly and amicably separate your employment, as well as to resolve fairly and amicably any disputes or claims. 

11. Representations & Warranties. You represent and warrant that you have no interest or obligation that is inconsistent with or in
conflict with this Agreement or that would prevent, limit or impair your performance of any part of this Agreement. You represent that as of the date you have signed this Agreement, you have not filed, directly or indirectly, nor caused to be filed,
any Claims (as defined in the General Release) against American Greetings or the Releasees (as defined in the General Release) in any forum, including federal, state or local court or in arbitration, any administrative proceeding with any federal,
state or local administrative agency, or American Greetings’ dispute resolution procedure (“Solutions”). You agree that should any administrative or third party pursue any claims on your behalf, you waive your right to any monetary or
recovery of any kind. 
 12. Breach of Agreement. You agree that in the event you breach any of the terms of this Agreement, you will
forfeit the benefits described in this Agreement, plus you will pay any expenses or damages incurred by American Greetings and/or its agents, officers, directors, 
  

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employees, subsidiaries, divisions, affiliates, successors and assigns as a result of the breach, including reasonable attorneys’ fees. 
 13. Dispute Resolution. All disputes, claims, or controversies arising out of or in connection with this Agreement, your employment or its
termination, including but not limited to those concerning workplace discrimination and all other statutory claims, shall exclusively be submitted to and determined by final and binding arbitration before a single arbitrator (“Arbitrator”)
of the American Arbitration Association (“AAA”) in accordance with the association’s then current rules for the resolution of employment disputes (“the Rules”). The Arbitrator shall be selected in accordance with the Rules.
The parties consent to the authority of the arbitrator, if the arbitrator so determines, to award fees and expenses (including legal fees) to the prevailing party in the arbitration. The following claims are not covered by the parties’
agreement to arbitrate claims under this provision: (i) Claims you may have for workers’ compensation and unemployment compensation benefits; and (ii) claims by either party for injunctive and/or other equitable relief,
including without limitation the enforcement of Sections 6 and 8, as to which the parties understand and agree that either party may seek and obtain relief from a court of competent jurisdiction. You understand that the benefits set
forth in this Agreement and your employment with American Greetings through the Separation Date are consideration for your acceptance of this arbitration provision. In addition, the promises by American Greetings and by you to arbitrate
claims, rather than litigate them before courts or other bodies, provide consideration for each other. 
  

	14.	 Entire Agreement. 

 a. This Agreement constitutes the entire understanding between you and American Greetings relating to the subject matter contained herein and this Agreement supersedes any previous agreement(s) that may have been made in connection with
your employment with American Greetings. This Agreement may not be changed, modified, or altered without the express written consent of you and a senior officer of American Greetings. 
 b. American Greetings failure to insist upon strict adherence to any term of this Agreement on any occasion shall not be considered a
waiver of, or deprive American Greetings of its right thereafter to insist upon strict adherence to that term or any other term of this Agreement. To be effective, any waiver must be in writing and signed by a senior officer of American Greetings.

 15. Governing Law. This Agreement shall be construed in accordance with the laws of the State of Ohio. If any part or section of
this Agreement is found to be contrary to law or unenforceable, the remainder shall remain in force and effect. Furthermore, it is expressly understood and agreed that if a final determination is made by a court of law that the time or any 

  

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other restriction contained in Section 8 above is an unenforceable restriction against you, then the provisions of Section 8 above shall not be
rendered void but shall be deemed amended to apply as to such maximum time and to such other maximum extent as such court may determine or indicate to be enforceable. Alternatively, if any such court finds that any restriction contained in
Section 8 above is unenforceable, and such restriction cannot be amended so as to make it enforceable, such finding shall not affect the enforceability of any other provision of this Agreement. 
  

	16.	 Voluntary Agreement. 

 a. You acknowledge and agree that (i) you have read and understand each of the provisions of this Letter Agreement; ii) you are hereby advised to consult with an attorney prior to signing this Letter Agreement;
and iii) you have at least 21 calendar days from the date of this Letter Agreement to review and consider your decision to sign it. 
 b) Once you sign this Agreement, you have 7 calendar days to revoke it. You may do
so by delivering to the Company’s Senior Vice President of Human Resources written notice of your revocation with in the 7-day revocation period. This Agreement will be a valid and binding obligation to you on the 8th day after you sign it, provided that you have not revoked it during the 7-day revocation period. 
  

	17.	 Voluntary General Release. 

 a. You acknowledge and agree that i) you will not sign the General Release attached as Exhibit A to this Letter Agreement until on or after the Separation Date; ii) you are hereby advised to consult with an attorney
prior to signing the General Release; and iii) you have at least 21 calendar days from the date of this Letter Agreement to review and consider your decision to sign the General Release. 
 b. Once you sign the General Release, you will have 7 calendar days to revoke it.
You may do so by delivering to the Company’s Senior Vice President of Human Resources written notice of your revocation within the 7-day revocation period. The General Release will become effective on the 8th day after you sign it; provided you have not revoked it during the 7-day revocation period. 
 18. Notices. All notices, requests and other communications under this Agreement and the General Release will be in writing (including facsimile or similar writing) to the applicable address (or to such other
address as to which notice is give in accordance with this paragraph 18). Any such notice, request or other communication will be effective only when received by the receiving party. 
  

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	 If to you:
	  	 Steven Willensky
 1937 Woodstock Road
 Gates Mills, OH 44040

		
	 If to the Company:
	  	 American Greetings Corporation
 ATTN: Senior Vice
President of Human Resources
 One American Road
 Cleveland, OH
44144

 19. Transferability. This Agreement shall be binding upon any successor to the Company,
whether by merger, consolidation, purchase of assets or otherwise. No provision of this Agreement is intended to confer any rights, benefits, remedies, obligations or liability hereunder upon any person or entity, other than the parties hereto and
their respective successors and assigns, which in your case will include your heirs and/or your estate. 
 20. Counterparts. This
Agreement may be executed in counterparts. 
 Signed and Agreed to on behalf of American Greetings Corporation, 
  

					
		 	 /s/ Zev Weiss
	 	
		 	Zev Weiss, Chief Executive Officer	 	

 Attachment: Exhibit A (“General Release”) 
  

	cc:	 Jeff Weiss, President and Chief Operating Officer 

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

									
	 By:
	  	 /s/ Steven Willensky
	  		  	 Date:
	 	 3/28/08

		  	 Steven Willensky
	  		  		 	

  

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 EXHIBIT A 
 GENERAL RELEASE 
 In exchange for the benefits set forth in the Letter Agreement
between American Greetings Corporation (the “Company”) and me dated March 28, 2008 (the “Letter Agreement”) and to be provided to me following the Effective Date (as defined below) of this General Release and my execution
(without revocation) and delivery of this General Release, I hereby acknowledge, understand and agree as follows: 
 1.      a. On behalf of myself, my agents, assignees, attorneys, heirs, executors, and administrators, I hereby release American Greetings Corporation, and its predecessors, successors and assigns, its and
their current and former parents, affiliates, subsidiaries, divisions and joint ventures; and all of their current and former officers, directors, employees, and agents, in their capacity as American Greetings Corporation representatives
(individually and collectively, the “Releasees”) from any and all controversies, claims, demands, promises, actions, suits, grievances, proceedings, complaints, charges, liabilities, damages, debts, taxes, allowances, and remedies of any
type, including but not limited to those arising out of my employment with the Company (individually and collectively, “Claims”) that I may have by reason of any matter, cause, act or omission. This release applies to Claims that I know
about and those I may not know about occurring at any time on or before the date of execution of this General Release. 
 b.
This General Release includes a release of all rights and Claims under, as amended, Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act of 1967, the Rehabilitation Act of 1973, the Civil Rights Acts of 1866 and 1991,
the American with Disabilities Act of 1990, the Employee Retirement Income Security Act of 1974, the Equal Pay Act of 1963, the Family and Medical Leave Act of 1993, the Fair Labor Standards Act of 1938, the Older Workers Benefit Protection Act of
1990, the Occupational Safety and Health Act of 1970, the Worker Adjustment and Retraining Notification Act of 1989, the Sarbanes-Oxley Act of 2002, as well as any other federal, state, or local statute, regulation or common law regarding employment
discrimination, termination, retaliation, equal opportunity, or wage and hour. I specifically understand that I am releasing Claims based on age, race, color, sex, sexual orientation or preference, marital status, religion, national original,
citizenship, veteran status, disability and other legally protected categories. 
 c. This General Release also includes a
release of any Claims for breach of contract, any tortious act or other civil wrong, attorneys’ fees, and all compensation and benefits claims including without limitation Claims concerning salary, bonus, and any award(s) grant(s), or
purchase(s) under any equity and incentive compensation plan or program, and separation pay under American Greetings Corporation’s severance policy. 
 d. In addition, I am waiving my right to pursue any Claims against the Company and Releasees under any applicable dispute resolution procedure including any arbitration policy. 

 I acknowledge that this General Release is intended to include, without limitation, all
Claims known or unknown that I have or may have against the Company and Releasees through the Effective Date of this General Release. Notwithstanding anything herein, I expressly reserve and do not release pursuant to this General Release (and the
definition of “Claims” will not include): (i) my rights with respect to the enforcement of the Letter Agreement, including the right to receive the benefits and indemnifications specified in the Letter Agreement; (ii) my rights
to the vested benefits (included to reimbursement of expenses) I may have, if any, under any American Greetings’ employee benefit plans and programs; (iii) any claim arising after the Effective Date of this General Release; and
(iv) any right to indemnification pursuant to paragraph 7(c) of the Letter Agreement to the same extent provided to other senior executives of the Company. 
 2. I acknowledge that I have had at least 21 calendar days from the date of delivery of the Letter
Agreement to consider the terms of the Letter Agreement and this General Release, that I have been advised to consult with an attorney regarding the terms of this General Release prior to executing it, that I fully understand all of the terms and
conditions of this General Release, that I understand that nothing contained herein contains a waiver of claims arising after the date of execution of this General Release, and I am entering into this General Release knowingly, voluntarily and of my
own free will. I further understand that my failure to sign this General Release and return such signed General Release to the Senior Vice President of Human Resources, American Greetings Corporation, One American Road, Cleveland, Ohio 44144 by 5:00
p.m. on the 22nd day after the Separation Date will render me ineligible for the benefits described herein in the Agreement. 
 3. I understand that once I sign and return this General Release to the Senior Vice President of
Human Resources of American Greetings Corporation, I have 7 calendar days to revoke it. I may do so by delivering to the Senior Vice President of Human Resources, American Greetings Corporation, One American Road, Cleveland, Ohio 44144, written
notice of my revocation within the 7-day revocation period (the “Revocation Period”). The General Release will become effective on the 8th
day after I sign and return it to the Senior Vice President of Human Resources of American Greetings Corporation (“Effective Date”); provided that I have not revoked it during the Revocation Period. 
 I ACKNOWLEDGE AND AGREE THAT I HAVE BEEN ADVISED THAT THE AGREEMENT IS A LEGAL DOCUMENT, AND HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY CONCERNING
THE AGREEMENT. I ACKNOWLEDGE AND AGREE THAT I HAVE CAREFULLY READ AND FULLY UNDERSTAND ALL PROVISIONS OF THIS AGREEMENT, AND AM VOLUNTARILY AND KNOWINGLY SIGNING THE AGREEMENT. 
  

											
	 By:
	 	  
	 		  	 Date:
	 	  
	 	
		 	 Steven Willensky
	 		  		 		 	

  

 - 2 -Performance Share Grant Agreement dated April 22, 2008--Zev Weiss

 Exhibit 10(li) 
 AMERICAN GREETINGS CORPORATION 2007 OMNIBUS 
 INCENTIVE COMPENSATION PLAN 
 PERFORMANCE SHARE GRANT AGREEMENT 
  

					
			
	Grantee:	 		 	Zev Weiss
			
	Target Grant:	 		 	34,208 Class B Common Shares (the “Shares”)
			
	Performance Period:	 		 	 March 1, 2008 through
 February 28, 2010 (the
“Performance Period”)

			
	Grant Date:	 		 	April 22, 2008

 THIS AGREEMENT, dated as of the Grant Date stated above, is by and between American Greetings Corporation (the
“Company” or “American Greetings”) and Grantee. 
 W I T N E S S E T H: 
 WHEREAS,
the Company wishes to give Grantee an opportunity to acquire or enlarge his equity ownership in the Company for purposes of augmenting Grantee’s proprietary interest in the success of American Greetings and thereby focusing Grantee’s
efforts on increasing shareholder value. 
 A G R E E M E N T 
 NOW, THEREFORE, the
Company and Grantee hereby agree as follows: 
 1.        Performance Share Grant. Subject to the terms and
conditions of this Agreement, the Company hereby grants to Grantee the Target Grant of Shares (the “Performance Shares”) as specified above. The grant of Performance Shares shall represent the right to receive such number of Shares,
if any, as determined in accordance with Section 2 upon the achievement of certain Performance Criteria over the Performance Period. The Performance Shares described in this Agreement are in all respects subject to the terms, conditions and
provisions of this Agreement and the Company’s 2007 Omnibus Incentive Compensation Plan (the “Plan”). 
 2.        Award of Performance Shares. 
 (a) The number of Performance Shares
actually earned will be based on the percentage of Grantee’s target incentive award, if any, that Grantee achieves during the Performance Period under the Company’s Key Management Annual Incentive Plan (the “Annual Incentive
Plan”). Subject to the certification of the Company’s Compensation and Management Development Committee (the “Committee”) required by Section 2(b), and provided that Grantee is actively employed by the Company or
a subsidiary thereof as of the last day of such fiscal year with respect to which a calculation is made to determine if Grantee is entitled to payment of Performance Shares, Grantee will be entitled to payment of all or a portion of the Target Grant
of Performance Shares as calculated in this Section 2(a) if he achieves all or a portion of his target incentive award for a given fiscal year during the Performance Period. 
  

 1 

 (i)        Grantee will be entitled to payment of all or a
portion of his Target Grant of Performance Shares during the first year of the Performance Period as follows: 
 (1)        With respect to fiscal year 2009, Grantee will be deemed to have earned a number of Performance Shares, if any, determined by multiplying the Target Grant of Performance Shares by the
percentage of the target incentive award that Grantee achieves for such fiscal year under the Annual Incentive Plan as in effect for that fiscal year, not to exceed 100%, and then rounding the resulting number up to the nearest whole number.

 (2)        If Grantee achieves 100% of his target incentive award under the Annual Incentive Plan
in fiscal year 2009, he will be deemed to have earned 100% of the Target Grant of Performance Shares. 
 (3)        If Grantee earns a portion but less than 100% of the Target Grant of Performance Shares with respect to fiscal year 2009, Grantee shall forfeit the remaining portion of the Target Grant of
Performance Shares. 
 (4)        If Grantee does not earn any portion of the Target Grant of
Performance Shares with respect to fiscal 2009, Grantee shall be entitled to earn all or a portion of such Performance Shares in fiscal year 2010, which is the second year of the Performance Period in accordance with Section 2(a)(ii) below.

 (ii)        Subject to Section 2(a)(iii), any Performance Shares not earned or not otherwise
forfeited during the first year of the Performance Period in accordance with Section 2(a)(i) will be deemed earned as follows: 
 (1)        With respect to fiscal 2010, Grantee will be deemed to have earned a number of Performance Shares, if any, determined by multiplying the Target Grant of Performance Shares by the percentage
of the target incentive award that Grantee achieves for such fiscal year under the Annual Incentive Plan as in effect for that fiscal year, not to exceed 100%, and then rounding the resulting number up to the nearest whole number. 
 (2)        If Grantee earns less than 100% of the Target Grant of Performance Shares with respect to fiscal year
2010, Grantee shall forfeit the remaining portion of the Target Grant of Performance Shares not earned with respect to such fiscal year. 
 (iii)        Any portion of the Target Grant of Performance Shares not earned as of the end of the Performance Period shall be forfeited and Grantee shall have no right to receive such Performance
Shares. Except as contemplated by Section 7(f), in no event may Grantee earn under this Agreement more than the total Target Grant of Performance Shares. 
 (b)        If Grantee is deemed to have earned any of the Performance Shares as of the end of any fiscal year within the Performance Period as set forth in Section 2(a),
the Company will pay Grantee in accordance with Section 4 an award of Shares equal to the number of Performance Shares so earned; provided, however, that prior to the payment of Shares pursuant to this Agreement, the Committee must certify that
the objectives establishing entitlement to the payment of Shares have been achieved. 
  

 2 

 3.        Awards on Certain Events. Notwithstanding the requirement in
Section 2 of this Agreement that a Grantee be actively employed on the last day of any fiscal year of the Company during the Performance Period for which Grantee has earned Performance Shares, all of the Performance Shares that have not
otherwise been earned or forfeited shall be deemed earned, and Shares shall be awarded pursuant to this Agreement, as of the date of (i) Grantee’s death or disability, or (ii) a Change in Control (as defined in the Plan) of the
Company. For purposes of this Agreement, “disability” means that Grantee is “disabled” as such term is defined in Section 409A(a)(2) of the Internal Revenue Code. 
 4.        Payment of Award. As soon as practicable after any Performance Shares are deemed earned by Grantee pursuant to
Section 2 (which shall be no longer than the time period required under Internal Revenue Code Section 409A (“Section 409A”) to qualify as a short-term deferral as contemplated thereby), such Performance Shares shall be issued to
Grantee in the form of Shares. At such time, Grantee shall enjoy full shareholder and ownership rights with respect to such Shares. A stock certificate representing all such Shares shall be delivered to Grantee (or any person who makes a claim
through a Grantee) and shall be registered in his or her name. In the case of Grantee’s death or disability, payment of any Shares that Grantee has earned will be made to the beneficiary designated by Grantee in a writing filed with the Company
or, if none, to Grantee’s estate. 
 5.        Ownership Rights. Except as otherwise provided herein,
Grantee will not have the rights of a shareholder of the Company with respect to any Shares issuable upon the earning of any Performance Shares. Upon receipt of any portion of Shares issued pursuant to Performance Shares awarded under
Section 2, Grantee shall exercise all ownership rights (including, without limitation, the right to vote and the right to receive dividends) with respect to such Shares, provided that voting and dividend rights with respect to the Shares will
be exercisable only if the record date for determining shareholders entitled to vote and receive dividends, as the case may be, falls on or after the date as of which Shares are earned and issued to Grantee pursuant to this Agreement. 
 6.        Deferral of Exercise or Delivery of Shares. Notwithstanding any provision in this Agreement to the contrary, if
any law or regulation of any governmental authority having jurisdiction in the matter requires the Company, the Board, the Committee or Grantee to take any action or refrain from action in connection with the award or delivery of Shares under this
Agreement, or to delay such award or delivery, then the award or delivery of such Shares shall be deferred until such action has been taken or such restriction on action has been removed. At Grantee’s election, Grantee may also defer receipt of
any Performance Shares earned under the Agreement in accordance with the Plan, any such deferred shares to be credited with dividend equivalents, to be paid at the end of any applicable deferral period in Class B shares (excluding fractional
amounts). 
 7.        General Provisions. Grantee acknowledges that he has read, understands and agrees with
all of the provisions in this Agreement and the Plan, including, but not limited to, the following: 
 (a)        Administration. The interpretation and construction by the Board and/or the Committee of any provision of this Agreement, the Plan or any notification or document evidencing the
grant of Performance Shares and that any determination by the Board or such Committee pursuant to any provision of this Agreement or the Plan or of any such agreement, notification or document shall be final and conclusive. 
 (b)        Notices. Any notice that is required or permitted under this Agreement shall be in writing
(unless otherwise specified in the Agreement or in a writing from the Company to Grantee), and delivered personally or by mail, postage prepaid, addressed as follows: (i) if to the Company, at One American Road, Cleveland, Ohio 44144,
Attention: Human Resources Department, or at such other address as the Company by notice to Grantee may have designated from time to time; (ii) if to Grantee, at the address indicated in Grantee’s then-current personnel records, or at such
other address 

  

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as Grantee by notice to the Company may have designated from time to time. Such notice shall be deemed given upon receipt. 
 (c)        Taxation. Grantee shall be responsible for all applicable income and withholding taxes and the
employee share of FICA taxes with respect to any compensation income generated upon the award of his earned Performance Shares under this Agreement. No later than the date as of which an amount first becomes includable in the gross income of Grantee
for federal income tax purposes with respect to the Performance Shares awarded hereunder, Grantee shall pay to the Company, or make arrangements satisfactory to the Committee regarding the payment of, any federal, state or local taxes of any kind
required by law to be withheld with respect to that amount. Unless otherwise determined by the Committee, withholding obligations may be settled with previously owned common shares or Shares that have been earned and that are issuable hereunder. The
making of that payment or those arrangements is a condition to the obligations of the Company under the Plan, and the Company may, to the extent permitted by law, deduct any taxes from any payment of any kind otherwise payable to Grantee or the
Company may retain such number of the Shares issuable upon the earning of Performance Shares covered by the grant evidenced by this Agreement as shall be equal in value to the amount of the remaining withholding obligation. 
 (d)        Nontransferability. This Agreement and the Performance Shares granted to Grantee shall be
nontransferable and shall not be sold, hypothecated or otherwise assigned or conveyed by Grantee to any other person, except as specifically permitted in this Agreement. No assignment or transfer of this Agreement or the rights represented thereby,
whether voluntary or involuntary, or by operation of law or otherwise, shall vest in the assignee or transferee any interest or right whatsoever, except as specifically permitted in this Agreement. The Agreement shall terminate, and be of no force
or effect, immediately upon any attempt to assign or transfer the Agreement or any of the Performance Shares to which the Agreement applies. 
 (e)        Not an Employment Contract. This Agreement shall not be deemed to limit or restrict the right of the Company to terminate Grantee’s employment at any time, for any reason, with
or without cause, or to limit or restrict the right of Grantee to terminate his employment with the Company at any time. 
 (f)        Adjustments. On any change in the number or kind of outstanding common shares of the Company by reason of a recapitalization, merger, consolidation, reorganization, separation,
liquidation, share split, share dividend, combination of shares or any other change in the corporate structure or common shares of the Company, the Company, by action of the Board or the Committee is empowered to make such adjustment, if any, in the
number and kind of Performance Shares subject to this agreement as it considers appropriate for the protection of the Company and of Grantee. 
 (g)        Unsecured Creditor Status. This grant of Performance Shares constitutes a mere promise by the Company to pay Grantee the benefits described in this grant (to the extent earned).
Grantee shall have the status of a general unsecured creditor of the Company with respect to the benefits payable under this Agreement. 
 (h)        Fractional Shares. Notwithstanding anything in this Agreement to the contrary, in the event that any adjustment to the Target Grant of Performance Shares or an award of Shares or the
calculation of an award pursuant to this Agreement would otherwise result in the creation of a fractional share interest, the affected award shall be rounded up to the nearest whole share. 
 (i)        Amendment or Termination. This Agreement may be amended or terminated at any time by the mutual
agreement and written consent of Grantee and the Company, but only to the extent permitted under the Plan. The provisions set forth in this Agreement are subject to the restrictions and 

  

 4 

 
other requirements of Section 409A and related regulations and rulings. Without limiting the generality of the preceding sentence, such provisions shall
be modified and amended, as and where necessary, to bring such provisions into compliance with the requirements set forth in Section 409A and related regulations and rulings. This Agreement shall be interpreted (and if necessary, amended) to
comply with Section 409A and to the extent any provision of this Agreement is inconsistent with Section 409A, said Section 409A shall control even if such action may reduce or diminish the value of Grantee’s award. 
 (j)        Severability. If any provision of this Agreement should be held illegal or invalid for any
reason, such determination shall not affect the other provisions of this Agreement, and it shall be construed as if such provision had never been included herein. 
 (k)        Headings/Gender. Headings in this Agreement are for convenience only and shall not be construed to be part of this Agreement. Any reference to the masculine,
feminine or neuter gender shall be a reference to other genders as appropriate. 
 (l)        Governing Law. This Agreement shall be construed, and its provisions enforced and administered, in accordance with the laws of the State of Ohio and, where applicable, federal law.

 (m)        Definitions. Initial capitalized terms used in this Agreement that are not
otherwise defined herein shall have the meaning set forth in the Plan. 
 (n)        Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed original, but all of which taken together shall constitute one and the same instrument.

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized officer, and Grantee has executed this Agreement, as of
the Grant Date. 
  

			
	AMERICAN GREETINGS CORPORATION
		
	By:	 	 /s/ Brian McGrath

		 	Brian McGrath, Senior Vice President, Human Resources

  

			
	GRANTEE
	
	 /s/ Zev Weiss

	Name:	 	 Zev Weiss

  

 5

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