Document:

Agreement to Terminate Split-Dollar Agreement, dated February 16, 2009

 Exhibit 10(1xiv) 
 Agreement to Terminate Split-Dollar Agreement 
 between American Greetings Corporation and the 
 Morry Weiss and Judith S. Weiss 2001 Irrevocable Insurance Trust 
 THIS AGREEMENT made and entered into this 16th day of February 2009 between American Greetings Corporation (the “Corporation”), an Ohio corporation, and the Morry Weiss and Judith S. Weiss 2001 Irrevocable Insurance Trust (the
“Owner”) dated March 1, 2001 having Gary Weiss, Jeffrey Weiss, Zev Weiss and Elie Weiss as its co-trustees. 
 WHEREAS, the Corporation and
the Owner executed a split-dollar life insurance agreement dated as of May 7th, 2001 (the “Split-Dollar Agreement”) on the lives of Morry Weiss and Judith Weiss (the “Insured”), under which the Owner possesses all incidents
of ownership in and to the policy, subject to certain limitations in favor of the Corporation. 
 WHEREAS, pursuant to the Split-Dollar Agreement, the
Corporation has paid a portion of the $185,000 annual premiums and has a collateral interest in the policy held by the Owner as security for the reimbursement of an amount equal to the premiums paid by the Corporation but not to exceed the cash
value of the policy. The Owner has also paid a portion of the premiums. 
 WHEREAS, the Corporation acknowledges that its obligation to pay premiums under
the Split-Dollar Agreement was not conditioned on continued services by Morry Weiss. 
 WHEREAS, the enactment of the Sarbanes-Oxley Act of 2002 (the
“Act”) brought into question whether the Corporation could continue to pay premiums and increase the reimbursement amount with respect to the insurance policy that is the subject of the Split-Dollar Agreement. The Act prohibits new loans
between the Corporation and certain individuals, and certain features of the continuing arrangement could be characterized as a loan prohibited by the Act. 
 WHEREAS, pursuant to the terms of the insurance policy, the Corporation has not made further premium payments since the enactment of the Act and any additional amount paid with respect to the policy since enactment of the Act has not been
subject to reimbursement by the Corporation. 
 WHEREAS, the parties acknowledge that the cash value of the policy subject to the Split-Dollar Agreement does
not exceed the aggregate premiums paid by the Corporation pursuant to the Agreement. 
 As a result of limitations imposed by the Act on the continuation of
the Split-Dollar Agreement, the Corporation and the Owner agree to the following terms: 
 1. In accordance with Section 8b of the Split-Dollar
Agreement, this Agreement provides notice by the Owner to the Corporation to terminate the Split-Dollar Agreement. 
 2. On February 16, 2009, the Owner
will pay the Corporation $1,212,000 or such other amount as is equal to the maximum available cash value in the life insurance policy on the lives of the 

  

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Insured that has been subject to the Split-Dollar Agreement, as of the date that the Owner submits a request for withdrawal. 
 3. Upon (a) the Corporation's receipt of payment in the amount described in paragraph 2 above and (b) the receipt of written notification by the Owner from
Morry Weiss that the agreement between Morry Weiss and the Corporation, as described in Section 7 below, has been signed, the Split Dollar Agreement shall terminate without further action. 
 4. As a result of the termination of the Split Dollar Agreement, the Corporation hereby agrees to release any and all interest in the life insurance policy on the lives
of the Insured, the Owner agrees that the Corporation will make no further payments to the insurance company, and the Owner will have an unrestricted interest in the insurance policy that has been subject to the Split Dollar Agreement. 

5. This Agreement and the rights of the parties hereunder will be governed by and construed in accordance with the laws of the state of Ohio without regard to
conflicts of laws. 
 6. This Agreement settles any and all claims by the Owner and the Corporation with respect to the Split Dollar Agreement. 

7. Contemporaneous with the Owner's written agreement with the Corporation to terminate the Split Dollar Agreement, the parties acknowledge that Morry Weiss and the
Corporation will enter an agreement by which the Corporation will pay a fixed amount to Morry Weiss. 
 8. This Agreement may not be amended except by a
written instrument signed by the Corporation and the Owner, or their respective successors or assigns. 
 9. This Agreement shall be binding upon and inure
to the benefit of the Corporation and its successors and assigns and the Owner and its successors and assigns. 
 10. Each of the parties hereto shall use
its reasonable efforts to take or cause to be taken all action and to do or cause to be done all things necessary to consummate and make effective the transactions contemplated by this Agreement, at the reasonable request of another party, before,
at or after the termination of the Split Dollar Agreement. 
 THE PARTIES HERETO HAVE EXECUTED THIS AGREEMENT, IN COUNTERPARTS, AS OF THE DAY AND YEAR FIRST
WRITTEN ABOVE. 
 MORRY WEISS AND JUDITH S. WEISS 
 2001 IRREVOCABLE INSURANCE TRUST 
  

							
		 	By:	 	 /s/Gary Weiss        	  	
		 	     Gary Weiss, Trustee	  	

  

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		 	By:	 	/s/Jeffrey Weiss      	  	
		 	Jeffrey Weiss, Trustee	  	
				
		 	By:	 	/s/Zev Weiss              	  	
		 	     Zev Weiss, Trustee	  	
				
		 	By:	 	/s/Elie Weiss              	  	
		 	     Elie Weiss, Trustee	  	

 AMERICAN GREETINGS CORPORATION 
  

			
	By: /s/Catherine M. Kilbane    
	
	Title: Senior Vice President, General Counsel and Secretary

 2/9/09 
  

 3Agreement in connection with Termination of Split-Dollar Agreement

 Exhibit 10(1xv) 
 Agreement between American Greetings Corporation and 
 Morry Weiss in connection with Termination of the Split
Dollar Agreement 
 THIS AGREEMENT made and entered into this 16th day of February 2009 between American Greetings Corporation (the “Corporation”),
an Ohio corporation, and Morry Weiss. 
 WHEREAS, the Corporation and the Morry Weiss and Judith S. Weiss 2001 Irrevocable Trust (the “Owner”)
executed a split-dollar life insurance agreement dated as of May 7th, 2001 (the “Split-Dollar Agreement”) on the lives of Morry Weiss and Judith Weiss (the “Insured”), under which the Owner possesses all incidents of
ownership on the policy, subject to certain limitations. 
 WHEREAS, pursuant to the Split-Dollar Agreement, the Corporation has paid a portion of the
$185,000 annual premiums and has a collateral interest in the policy held by the Owner as security for the reimbursement of an amount equal to the premiums paid by the Corporation but not to exceed the cash value of the policy. The Owner has also
paid a portion of the premiums. 
 WHEREAS, the Corporation acknowledges that its obligation to pay premiums under the Split-Dollar Agreement was not
conditioned on continued services by Morry Weiss. 
 WHEREAS, the enactment of the Sarbanes-Oxley Act of 2002 (the “Act”) brought into question
whether the Corporation could continue to pay premiums and increase the reimbursement amount with respect to the insurance policy that is the subject of the Split-Dollar Agreement. The Act prohibits new loans between the Corporation and certain
individuals, and certain features of the continuing arrangement could be characterized as a loan prohibited by the Act. 
 WHEREAS, in accordance with the
terms of the insurance policy, the Corporation has not made further premium payments since the enactment of the Act and any additional amount paid with respect to the policy since enactment of the Act has not been subject to reimbursement by the
Corporation. 
 WHEREAS, the parties acknowledge that the cash value of the policy subject to the Split-Dollar Agreement does not exceed the aggregate
premiums paid by the Corporation pursuant to the Agreement. 
 As a result of limitations imposed by the Act on the continuation of the Split-Dollar
Agreement, the Corporation and Morry Weiss agree to the following terms: 
 1. The Corporation will provide written notice to Morry Weiss that it and the
Owner have signed an agreement to terminate the Split Dollar Agreement and that the Corporation has received all payments due from the Owner in connection with the termination of the Split Dollar Agreement. 
 2. In recognition of the services performed by Morry Weiss and the termination of the Split-Dollar Agreement, the Corporation agrees to pay a fixed amount to Morry
Weiss. On February 16, 2009, the Corporation will pay $2,324,155 to Morry Weiss, provided that the Corporation 

  

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has received all payments due from the Owner in connection with the termination of the Split Dollar Agreement. 
 3. Any payment by the Corporation to Morry Weiss will be made only if the Corporation’s Leverage Ratio and Interest Coverage Ratio, as defined in the Credit
Agreement executed by the Corporation and dated as of April 4, 2006 with respect to the Corporation’s $650 million credit facility (the “Credit Agreement”), are within the levels permitted by Section 7.07 of the Credit
Agreement as in effect on the date of its original execution. The determination of whether the Corporation’s Leverage Ratio and Interest Coverage Ratio are within the permitted levels will be made as of the last day of the fiscal quarter
immediately preceding the Payment Date (a “Determination Date”). 
 4. Subject to the provisions of this Agreement, the Corporation will also pay
Morry Weiss $1,174,166.34 on April 15, 2009 and $1,178,080on March 6, 2010. The payment due on February 16, 2009 and each date referenced in this paragraph will be referred to as “Payment Date.” If Morry Weiss is deceased on
a Payment Date, such payment shall instead be made to the trustee under the Morry Weiss Trust originally dated February 5, 1979, as amended. 
 5. If,
on a Determination Date, the Leverage Ratio exceeds, or Interest Coverage Ratio is less than, the permitted level in the Credit Agreement, then the payment otherwise due on the immediately following Payment Date shall not be paid and instead shall
be added to the amount due on the next Payment Date. If either the Leverage Ratio or Interest Coverage Ratio on the final Determination Date are beyond the permitted levels in the Credit Agreement, then any remaining amounts otherwise due under this
Agreement shall be forfeited. 
 6. The parties understand that the Corporation’s obligation to pay might be subject to Section 409A of the
Internal Revenue Code of 1986, as amended (the “Code”). For purposes of Section 409A, each amount referenced in this Agreement is treated as a separate payment. The Corporation and Morry Weiss agree that the Payment Date will not be
changed to dates different from those stated in this Agreement, except (if at all) to the extent permitted by Section 409A of the Code. 
 7. The
Corporation will withhold any applicable taxes either as a payment is made, or as otherwise required during February 2009 from other compensation due to Morry Weiss. 
 8. This Agreement and the rights of the parties hereunder will be governed by and construed in accordance with the laws of the state of Ohio without regard to conflicts of laws. 
 9. Morry Weiss agrees that the amount payable pursuant to this Agreement is in full settlement of any and all obligations due by the Corporation to him in connection
with the Split Dollar Agreement. 
 10. Immediately following the signing of this Agreement, Morry Weiss will provide the Owner with written notification
that this Agreement has been signed. 
 11. This Agreement may not be amended except by a written instrument signed by the Corporation and Morry Weiss, or
their respective successors or assigns. 
  

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 12. This Agreement shall be binding upon and inure to the benefit of the Corporation and its successors and assigns, and
Morry Weiss and his successors and assigns. 
 13. Each of the parties hereto shall use its reasonable efforts to take or cause to be taken all action and to
do or cause to be done all things necessary to consummate and make effective the transactions contemplated by this Agreement, at the reasonable request of another party. 
 THE PARTIES HERETO HAVE EXECUTED THIS AGREEMENT, IN COUNTERPARTS, AS OF THE DAY AND YEAR FIRST WRITTEN ABOVE. 
  
  
 AMERICAN GREETINGS CORPORATION 
 By: /s/Catherine M. Kilbane             
 Title:    Senior Vice President, General Counsel and Secretary 
 MORRY WEISS 
                                 /s/Morry
Weiss                                 
  
  
  
  
  
  
  
 2/9/2009 
  

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