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                                                                EXECUTION COPY

                                                                  EXHIBIT 4.16

                          SECOND SUPPLEMENTAL INDENTURE

                  SUPPLEMENTAL INDENTURE (this "SUPPLEMENTAL INDENTURE"), dated
as of October 22, 2003, among The Lehigh Press, Inc. (the "GUARANTEEING
SUBSIDIARY"), a subsidiary of Von Hoffmann Corporation (or its permitted
successor), a Delaware corporation (the "COMPANY"), the Company, the other
Guarantors (as defined in the Indenture referred to herein) and U.S. Bank
National Association, as trustee under the indenture referred to below (the
"TRUSTEE").

                               W I T N E S S E T H

                  WHEREAS, the Company has heretofore executed and delivered to
the Trustee an indenture (the "INDENTURE"), dated as of March 26, 2002 providing
for the issuance of 10 1/4% Senior Notes due 2009 (the "NOTES") and any
Additional Notes (as defined in the Indenture);

                  WHEREAS, the Indenture provides that under certain
circumstances the Guaranteeing Subsidiary shall execute and deliver to the
Trustee a supplemental indenture pursuant to which the Guaranteeing Subsidiary
shall unconditionally guarantee all of the Company's Obligations under the Notes
and the Indenture on the terms and conditions set forth herein (the "NOTE
GUARANTEE");

                  WHEREAS, the Company is issuing an aggregate principal amount
of $60,000,000 of Additional Notes pursuant to the Indenture; and

                  WHEREAS, pursuant to Section 9.01 of the Indenture, the
Trustee is authorized to execute and deliver this Supplemental Indenture.

                  NOW THEREFORE, in consideration of the foregoing and for other
good and valuable consideration, the receipt of which is hereby acknowledged,
the parties hereto mutually covenant and agree for the equal and ratable benefit
of the Holders of the Notes as follows:

                  1. CAPITALIZED TERMS. Capitalized terms used herein without
definition shall have the meanings assigned to them in the Indenture.

                  2. AGREEMENT TO GUARANTEE. The Guaranteeing Subsidiary hereby
agrees as follows:

                           (a) Along with all Guarantors named in the Indenture,
                  to jointly and severally guarantee to each Holder of a Note
                  authenticated and delivered by the Trustee and to the Trustee
                  and its successors and assigns that:

                           (i) the principal of, and premium and Liquidated
                 Damages, if any, and interest on the Notes will be promptly
                 paid in full when due, subject to any applicable grace period,
                 whether at maturity, by acceleration, redemption or otherwise,
                 and interest on the overdue principal of and interest on the
                 Notes, if any, if lawful, and all other payment obligations of
                 the Company to the Holders or the Trustee hereunder or
                 thereunder will be promptly paid in full or performed, all in
                 accordance with the terms hereof and thereof; and

                           (ii) in case of any extension of time of payment or
                 renewal of any Notes or any of such other obligations, that
                 same will be promptly paid in full

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                  when due or performed in accordance with the terms of the
                  extension or renewal, subject to any applicable grace period,
                  whether at stated maturity, by acceleration or otherwise.
                  Failing payment when due of any amount so guaranteed or any
                  performance so guaranteed for whatever reason, the Guarantors
                  shall be jointly and severally obligated to pay the same
                  immediately.

                           (b) The obligations hereunder shall be unconditional,
                  irrespective of the validity, regularity or enforceability of
                  the Notes or the Indenture, the absence of any action to
                  enforce the same, any waiver or consent by any Holder of the
                  Notes with respect to any provisions hereof or thereof, the
                  recovery of any judgment against the Company, any action to
                  enforce the same or any other circumstance which might
                  otherwise constitute a legal or equitable discharge or defense
                  of a Guarantor.

                           (c) The following is hereby waived: diligence,
                  presentment, demand of payment, filing of claims with a court
                  in the event of insolvency or bankruptcy of the Company, any
                  right to require a proceeding first against the Company,
                  protest, notice and all demands whatsoever.

                           (d) The Note Guarantee shall not be discharged except
                  by complete performance of the obligations contained in the
                  Notes and the Indenture, and the Guaranteeing Subsidiary
                  accepts all obligations of a Guarantor under the Indenture.

                           (e) If any Holder or the Trustee is required by any
                  court or otherwise to return to the Company, the Guarantors,
                  or any custodian, trustee, liquidator or other similar
                  official acting in relation to either the Company or the
                  Guarantors, any amount paid by either to the Trustee or such
                  Holder, this Note Guarantee, to the extent theretofore
                  discharged, shall be reinstated in full force and effect.

                           (f) The Guaranteeing Subsidiary shall not be entitled
                  to any right of subrogation in relation to the Holders in
                  respect of any obligations guaranteed hereby until payment in
                  full of all obligations guaranteed hereby.

                           (g) As between the Guarantors, on the one hand, and
                  the Holders and the Trustee, on the other hand, (x) the
                  maturity of the obligations guaranteed hereby may be
                  accelerated as provided in Article 6 of the Indenture for the
                  purposes of this Note Guarantee, notwithstanding any stay,
                  injunction or other prohibition preventing such acceleration
                  in respect of the obligations guaranteed hereby, and (y) in
                  the event of any declaration of acceleration of such
                  obligations as provided in Article 6 of the Indenture, such
                  obligations (whether or not due and payable) shall forthwith
                  become due and payable by the Guarantors for the purpose of
                  this Note Guarantee.

                           (h) The Guarantors shall have the right to seek
                  contribution from any non-paying Guarantor so long as the
                  exercise of such right does not impair the rights of the
                  Holders under the Note Guarantee.

                           (i) Pursuant to Section 10.02 of the Indenture, after
                  giving effect to any maximum amount and all other contingent
                  and fixed liabilities that are relevant under any applicable
                  Bankruptcy or fraudulent conveyance laws, and

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                  after giving effect to any collections from, rights to receive
                  contribution from or payments made by or on behalf of any
                  other Guarantor in respect of the obligations of such other
                  Guarantor under Article 10 of the Indenture, this new Note
                  Guarantee shall be limited to the maximum amount permissible
                  such that the obligations of such Guarantor under this Note
                  Guarantee will not constitute a fraudulent transfer or
                  conveyance.

                  3. EXECUTION AND DELIVERY. Each Guaranteeing Subsidiary agrees
that the Note Guarantees shall remain in full force and effect notwithstanding
any failure to endorse on each Note a notation of such Note Guarantee.

                  4. GUARANTEEING SUBSIDIARY MAY CONSOLIDATE, ETC. ON CERTAIN
TERMS.

                           (a) The Guaranteeing Subsidiary may not sell or
                  otherwise dispose of all substantially all of its assets to,
                  or consolidate with or merge with or into (whether or not such
                  Guarantor is the surviving Person) another Person, other than
                  the Company or another Guarantor unless:

                            (i) immediately after giving effect to such
                  transaction, no Default or Event of Default exists; and

                           (ii) either (A) subject to Sections 10.04 and 10.05
                 of the Indenture, the Person acquiring the property in any such
                 sale or disposition or the Person formed by or surviving any
                 such consolidation or merger unconditionally assumes all the
                 obligations of that Guarantor, pursuant to a supplemental
                 indenture in form and substance reasonably satisfactory to the
                 Trustee, under the Notes, the Indenture and the Note Guarantee
                 on the terms set forth herein or therein; or (B) the Net
                 Proceeds of such sale or other disposition are applied in
                 accordance with the applicable provisions of the Indenture,
                 including without limitation, Section 4.10 thereof.

                           (b) In case of any such consolidation, merger, sale
                  or conveyance and upon the assumption by the successor Person,
                  by supplemental indenture, executed and delivered to the
                  Trustee and satisfactory in form to the Trustee, of the Note
                  Guarantee endorsed upon the Notes and the due and punctual
                  performance of all of the covenants and conditions of the
                  Indenture to be performed by the Guarantor, such successor
                  Person shall succeed to and be substituted for the Guarantor
                  with the same effect as if it had been named herein as a
                  Guarantor. Such successor Person thereupon may cause to be
                  signed any or all of the Note Guarantees to be endorsed upon
                  all of the Notes issuable under the Indenture which
                  theretofore shall not have been signed by the Company and
                  delivered to the Trustee. All the Note Guarantees so issued
                  shall in all respects have the same legal rank and benefit
                  under the Indenture as the Note Guarantees theretofore and
                  thereafter issued in accordance with the terms of the
                  Indenture as though all of such Note Guarantees had been
                  issued at the date of the execution hereof.

                           (c) Except as set forth in Articles 4 and 5 and
                  Section 10.05 of Article 10 of the Indenture, and
                  notwithstanding clauses (a) and (b) above, nothing contained
                  in the Indenture or in any of the Notes shall prevent any

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                  consolidation or merger of a Guarantor with or into the
                  Company or another Guarantor, or shall prevent any sale or
                  conveyance of the property of a Guarantor as an entirety or
                  substantially as an entirety to the Company or another
                  Guarantor.

                  5.       RELEASES.

                           (a) In the event of any sale or other disposition of
                  all or substantially all of the assets of any Guarantor, by
                  way of merger, consolidation or otherwise, or a sale or other
                  disposition of all of the capital stock of any Guarantor, in
                  each case to a Person that is not (either before or after
                  giving effect to such transaction) a Restricted Subsidiary of
                  the Company, then such Guarantor (in the event of a sale or
                  other disposition, by way of merger, consolidation or
                  otherwise, of all of the capital stock of such Guarantor) or
                  the corporation acquiring the property (in the event of a sale
                  or other disposition of all or substantially all of the assets
                  of such Guarantor) will be released and relieved of any
                  obligations under its Note Guarantee; PROVIDED that the Net
                  Proceeds of such sale or other disposition are applied in
                  accordance with the applicable provisions of the Indenture,
                  including without limitation Section 4.10 of the Indenture.
                  Upon delivery by the Company to the Trustee of an Officers'
                  Certificate and an Opinion of Counsel to the effect that such
                  sale or other disposition was made by the Company in
                  accordance with the provisions of the Indenture, including
                  without limitation Section 4.10 of the Indenture, the Trustee
                  shall execute any documents reasonably required in order to
                  evidence the release of any Guarantor from its obligations
                  under its Note Guarantee.

                           (b) Any Guarantor not released from its obligations
                  under its Note Guarantee shall remain liable for the full
                  amount of principal of and interest on the Notes and for the
                  other obligations of any Guarantor under the Indenture as
                  provided in Article 10 of the Indenture.

                  6. NO RECOURSE AGAINST OTHERS. No past, present or future
director, officer, employee, incorporator, stockholder or agent of the
Guaranteeing Subsidiary, as such, shall have any liability for any obligations
of the Company or any Guaranteeing Subsidiary under the Notes, any Note
Guarantees, the Indenture or this Supplemental Indenture or for any claim based
on, in respect of, or by reason of, such obligations or their creation. Each
Holder of the Notes by accepting a Note waives and releases all such liability.
The waiver and release are part of the consideration for issuance of the Notes.
Such waiver may not be effective to waive liabilities under the federal
securities laws and it is the view of the SEC that such a waiver is against
public policy.

                  7. NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF
NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE BUT
WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT
THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED
THEREBY.

                  8. COUNTERPARTS. The parties may sign any number of copies of
this Supplemental Indenture. Each signed copy shall be an original, but all of
them together represent the same agreement.

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                  9. EFFECT OF HEADINGS. The Section headings herein are for
convenience only and shall not affect the construction hereof.

                  10. THE TRUSTEE. The Trustee shall not be responsible in any
manner whatsoever for or in respect of the validity or sufficiency of this
Supplemental Indenture or for or in respect of the recitals contained herein,
all of which recitals are made solely by the Guaranteeing Subsidiary and the
Company.

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                  IN WITNESS WHEREOF, the parties hereto have caused this
Supplemental Indenture to be duly executed and attested, all as of the date
first above written.

                  Dated:  October 22, 2003

                                VON HOFFMAN CORPORATION

                                By:  /s/ GARY C. WETZEL
                                    ------------------------------------------
                                Name:  Gary C. Wetzel
                                Title: Chief Financial Officer and Treasurer

                                THE LEHIGH PRESS, INC.

                                By:  /s/ GARY C. WETZEL
                                    ------------------------------------------
                                Name:  Gary C. Wetzel
                                Title: Chief Financial Officer and Treasurer

                                VON HOFFMAN HOLDINGS INC.

                                By:  /s/ GARY C. WETZEL
                                    ------------------------------------------
                                Name:  Gary C. Wetzel
                                Title: Chief Financial Officer and Treasurer

                                H&S GRAPHICS, INC.

                                By:  /s/ GARY C. WETZEL
                                    ------------------------------------------
                                Name:  Gary C. Wetzel
                                Title: Chief Financial Officer and Treasurer

                                PREFACE, INC.

                                By:  /s/ GARY C. WETZEL
                                    ------------------------------------------
                                Name:  Gary C. Wetzel
                                Title: Chief Financial Officer and Treasurer

                                PRECISION OFFSET PRINTING COMPANY, INC.

                                By:  /s/ GARY C. WETZEL
                                    ------------------------------------------
                                Name:  Gary C. Wetzel
                                Title: Chief Financial Officer and Treasurer

                                U.S. BANK NATIONAL ASSOCIATION,
                                   as Trustee

                                By:  /s/ AUTHORIZED SIGNATORY
                                     -----------------------------------------
                                     Authorized Signatory

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                                                              [EXECUTION COPY]

                                                                  EXHIBIT 10.7

                                 AMENDMENT NO. 2

         This AMENDMENT NO. 2, dated as of October 7, 2003 (as amended,
supplemented, amended and restated or otherwise modified from time to time, this
"SECOND AMENDMENT"), is among VON HOFFMANN HOLDINGS, INC., a Delaware
corporation (the "PARENT"), VON HOFFMANN CORPORATION, a Delaware corporation
("VHC"), H&S GRAPHICS, INC., PRECISION OFFSET PRINTING COMPANY, INC., PREFACE,
INC. and certain other Subsidiaries of VHC which may from time to time become
parties to the Credit Agreement referred to below as Borrowers (together with
VHC, each a "BORROWER" and, collectively, the "BORROWERS"), and the Lenders
signatory hereto.

         WHEREAS, the Borrowers, the banks and other lending institutions party
thereto from time to time (each a "LENDER" and, collectively, the "LENDERS"),
THE CIT GROUP/BUSINESS CREDIT, INC., as administrative agent for the Lenders (in
such capacity, the "ADMINISTRATIVE AGENT"), CREDIT SUISSE FIRST BOSTON, acting
through its Cayman Islands Branch, as syndication agent for the Lenders (in such
capacity, the "SYNDICATION AGENT"), and US BANK NATIONAL ASSOCIATION, as
documentation agent for the Lenders (in such capacity, the "DOCUMENTATION
AGENT"), have heretofore entered into a Credit Agreement dated as of March 26,
2002 (as amended by Amendment No. 1 thereto dated as of September 19, 2002, and
as otherwise heretofore amended, supplemented or otherwise modified, the "CREDIT
AGREEMENT"); and

         WHEREAS, the Obligors and the Lenders desire to amend the Credit
Agreement to, among other things, (i) permit the acquisition (the "LEHIGH
ACQUISITION") by VHC of all the capital stock of The Lehigh Press, Inc., a
Pennsylvania corporation ("LEHIGH"), pursuant to an acquisition agreement (the
"LEHIGH ACQUISITION AGREEMENT"), dated as of September 5, 2003, between VHC and
the shareholders of Lehigh, and the payment of fees and expenses related to the
Lehigh Acquisition in an aggregate amount not to exceed $7,000,000, (ii) permit
the issuance by VHC of additional 10.25% senior unsecured notes due 2009 for
gross cash proceeds of up to $60,000,000 (the "ADDITIONAL SENIOR NOTES") (or, if
VHC is unable to issue Additional Senior Notes prior to the date the Lehigh
Acquisition is consummated, permit VHC to borrow up to $60,000,000 of senior
increasing rate loans (the "BRIDGE LOANS") from one or more lenders under a new
senior credit facility (the "BRIDGE FACILITY")) and (iii) modify certain other
provisions of the Credit Agreement.

         NOW, THEREFORE, in consideration of the premises and the mutual
agreements herein contained, the parties hereto agree as follows:

                                    ARTICLE I
                                   DEFINITIONS

         Unless otherwise defined herein, capitalized terms defined in the
Credit Agreement shall have the same meanings when used in this Second
Amendment. The following additional terms, as used herein, shall have the
following respective meanings:

         "ADDITIONAL SENIOR NOTES" is defined in the SECOND RECITAL.

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         "BRIDGE FACILITY" is defined in the SECOND RECITAL.

         "BRIDGE LOANS" is defined in the SECOND RECITAL.

         "LEHIGH" is defined in the SECOND RECITAL.

         "LEHIGH ACQUISITION" is defined in the SECOND RECITAL.

         "LEHIGH ACQUISITION AGREEMENT" is defined in the SECOND RECITAL.

         "SECOND AMENDMENT" has the meaning set forth in the PREAMBLE hereof.

         "SECOND AMENDMENT EFFECTIVE DATE" has the meaning set forth in ARTICLE
III.

                                   ARTICLE II
                         AMENDMENTS TO CREDIT AGREEMENT

         Subject to the conditions and on the terms set forth herein, and in
reliance on the representations and warranties of the Obligors contained herein,
the Credit Agreement is hereby amended, as of the Second Amendment Effective
Date, in accordance with this ARTICLE II.

         SECTION 2.01 AMENDMENTS TO SECTION 1.1 OF THE CREDIT AGREEMENT (NEW
DEFINITIONS).

         Section 1.1 of the Credit Agreement is hereby amended by inserting the
following definitions in the appropriate alphabetical order:

         "ADDITIONAL SENIOR NOTE DOCUMENTS" means, collectively, the Additional
Senior Note Indenture, and any other indentures, note purchase agreements,
promissory notes, registration rights agreements, guarantees, and other
instruments and agreements evidencing the terms of the Additional Senior Notes,
as amended, supplemented, amended and restated or otherwise modified in
accordance with SECTION 7.2.12.

         "ADDITIONAL SENIOR NOTE INDENTURE" means an indenture among VHC, the
guarantors set forth therein, and the trustee identified therein (as the same
may be amended or otherwise modified from time to time thereafter in accordance
with the terms hereof and thereof), pursuant to which Additional Senior Notes
are issued, in form and substance substantially similar to the Senior Note
Indenture, except for (i) the inclusion of provisions requiring the redemption
of the Additional Senior Notes if (x) the Lehigh Acquisition is not consummated
by December 31, 2003 or (y) the Lehigh Acquisition Agreement is terminated
before the consummation of the Lehigh Acquisition and (ii) any changes thereto
that are reasonably satisfactory to the Administrative Agent following
consultation with the Syndication Agent.

         "ADDITIONAL SENIOR NOTE ISSUANCE" means the issuance by VHC of the
Additional Senior Notes.

         "ADDITIONAL SENIOR NOTES" means the 10.25% senior notes due 2009 issued
by VHC for gross cash proceeds of up to $60,000,000 under the Additional Senior
Note Indenture, and shall

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also include any and all registered exchange notes (other than registered
exchange notes issued under the Senior Note Indenture) issued in exchange
therefor in accordance with the Additional Senior Note Documents.

         "BRIDGE FACILITY" means the senior credit facility pursuant to which
Bridge Loans are made, pursuant to credit documentation and on terms and
conditions in each case satisfactory to the Administrative Agent and the
Required Lenders, as such facility may be amended or otherwise modified and
including any refinancing thereof pursuant to the terms of such credit
documentation.

         "BRIDGE LOANS" means the senior increasing rate loans from one or more
lenders under the Bridge Facility in an original principal amount of up to
$60,000,000, and including any notes or other Indebtedness exchanged therefor
pursuant to the terms of the Bridge Facility.

         "LD DISPOSITION" means the sale of the assets of the Lehigh Direct
division of Lehigh on or following the date of the Lehigh Acquisition.

         "LEHIGH" means The Lehigh Press, Inc., a Pennsylvania corporation.

         "LEHIGH ACQUISITION" means the acquisition by VHC of all the capital
stock of Lehigh pursuant to the Lehigh Acquisition Agreement, and the payment of
fees and expenses related to such acquisition in an aggregate amount not to
exceed $7,000,000.

         "LEHIGH ACQUISITION AGREEMENT" means the Stock Purchase Agreement,
dated as of September 5, 2003, together with all schedules and attachments
thereto, among VHC and the shareholders of Lehigh.

         "LEHIGH COMMITMENT PERIOD" is defined in SECTION 2.2.2.

          "SECOND AMENDMENT" means Amendment No. 2 to the Credit Agreement,
dated as of October __, 2003, by and among the Borrowers, the Agents and the
Lenders party thereto.

         "SECOND AMENDMENT EFFECTIVE DATE" means the effective date of the
Second Amendment pursuant to the terms thereof.

SECTION 2.02 AMENDMENTS TO SECTION 1.1 OF THE CREDIT AGREEMENT (REVISIONS TO
EXISTING DEFINITIONS). The following definitions in Section 1.1 of the Credit
Agreement are hereby amended as follows:

                   (a) The definition of "Borrowing Base Amount" is hereby
         amended by inserting the following proviso immediately before the
         period at the end thereof:

                  "PROVIDED, that on and following the date of the Lehigh
                  Acquisition, the accounts receivable, inventory and property,
                  plant and equipment of Lehigh and its Subsidiaries shall not
                  be included in the calculation of the Borrowing Base Amount
                  until the completion, to the reasonable satisfaction of the
                  Administrative Agent, of (i) an audit of the accounts
                  receivable, inventory, accounts payable and cash accounts of
                  Lehigh and

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                  its Subsidiaries and (ii) an appraisal of the Orderly
                  Liquidation Value of the inventory and property, plant and
                  equipment of Lehigh and its Subsidiaries."

                  (b) The definition of "Change in Control" is hereby amended
         by deleting the existing clauses (ii) and (iii) thereof and inserting
         the following in place thereof:

                         "(ii) the failure of the Parent at any time to own,
                   directly or indirectly, beneficially and of record, on a
                   fully-diluted, as-if-converted basis, 100% of the outstanding
                   Capital Securities of VHC, free and clear of all Liens (other
                   than Liens permitted to exist under CLAUSES (A), (F), (L) and
                   (N) of SECTION 7.2.3); or

                         (iii) the occurrence of any "Change of Control" or
                   similar term under (and as defined in) (v) if there are any
                   Senior Notes then outstanding, the Senior Note Indenture, (w)
                   if there are any Additional Senior Notes then outstanding,
                   the Additional Senior Note Indenture, (x) if there are any
                   Bridge Loans then outstanding, the Bridge Facility, (y) if
                   there are any Senior Subordinated Notes then outstanding, the
                   Senior Subordinated Note Indenture or (z) if there are any
                   Parent Debentures then outstanding, the Parent Debenture
                   Indenture."

                   (c) The definition of "Eligible Inventory" is hereby amended
          by deleting the parenthetical "(other than the Liens of the Loan
          Documents and Liens described in CLAUSES (D), (F), (J) and (L) of
          SECTION 7.2.3)" and inserting in place thereof "(other than the Liens
          of the Loan Documents and Liens described in CLAUSES (D), (F), (J),
          (L) and (N) of SECTION 7.2.3)".

                   (d) The definition of "Eligible PP&E" is hereby amended by
          deleting the parenthetical "(other than the Liens of the Loan
          Documents and Liens described in CLAUSE (D), (F), (G), (H), (J) and
          (L) of SECTION 7.2.3)" and inserting in place thereof "(other than the
          Liens of the Loan Documents and Liens described in CLAUSE (D), (F),
          (G), (H), (J), (L) and (N) of SECTION 7.2.3)".

                   (e) The definition of "Maximum PP&E Advance Amount" is hereby
          amended by deleting the "$40,000,000" therein and inserting
          "$45,000,000" in place thereof.

                   (f) The definition of "No More Favorable Terms and
          Conditions" is hereby amended and restated to read in its entirety as
          follows:

                           "`NO MORE FAVORABLE TERMS AND CONDITIONS' means, with
                  respect to any refinancing or other replacement of the
                  Indebtedness in respect of the Senior Notes, the Additional
                  Senior Notes, the Bridge Loans, the Senior Subordinated Notes
                  or the Parent Debentures (i) such Indebtedness has a maturity
                  date no earlier than the maturity date of the Senior Notes,
                  the Additional Senior Notes, the Bridge Loans, the Senior
                  Subordinated Notes or the Parent Debentures as applicable,
                  (ii) such Indebtedness has an Average Life at the time such
                  Indebtedness is incurred that is equal to or greater than the
                  Average Life of the Senior Notes, the Additional Senior Notes,
                  the Bridge Loans, the Senior

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                  Subordinated Notes or the Parent Debentures as applicable,
                  (iii) in the case of the Senior Subordinated Notes or the
                  Parent Debentures such Indebtedness is subordinated to the
                  Obligations to the same or greater extent as such, the Senior
                  Subordinated Notes or the Parent Debentures, and (iv) such
                  Indebtedness contains covenants, events of default, remedies,
                  acceleration rights, amortization schedules and other material
                  terms that, taken as a whole, are (x) not materially more
                  favorable to the holders of such Indebtedness than the similar
                  terms contained in the Senior Notes, the Additional Senior
                  Notes, the Bridge Loans, the Senior Subordinated Notes or the
                  Parent Debentures, as applicable, and (y) no less favorable to
                  the Lender Parties under the Loan Documents as of the date of
                  such refinancing or replacement; PROVIDED that any refinancing
                  or replacement of Bridge Loans or Additional Senior Notes with
                  Senior Notes shall be deemed to be on "No More Favorable Terms
                  and Conditions."

                   (g) The definition of "Permitted Purpose" is hereby amended
          and restated to read in its entirety as follows:

                           "`PERMITTED PURPOSE" means with respect to proceeds
                  of capital contributions to and Issuance of Capital Securities
                  by the Parent: (i) to the extent no Default or Event of
                  Default has occurred and is continuing at the time of any such
                  prepayment, purchase or redemption, to prepay, purchase or
                  otherwise redeem Parent Debentures, (ii) the holding of such
                  proceeds by the Parent as cash or Cash Equivalent Investments
                  or (iii) the contribution of such proceeds by the Parent to
                  the capital of VHC and the use by VHC and its Subsidiaries of
                  such proceeds, within 30 days following its receipt of such
                  contribution, (A) so long as no Default or Event of Default
                  shall have occurred and be continuing at the time thereof, to
                  make Eligible Acquisitions pursuant to SECTION 7.2.5(G), (B)
                  to make Capital Expenditures pursuant to SECTION 7.2.7(B)(I);
                  PROVIDED, HOWEVER, that if a Default or an Event of Default
                  shall have occurred and be continuing, the aggregate amount of
                  Capital Expenditures which shall constitute a "Permitted
                  Purpose" shall not exceed that amount which is necessary to
                  maintain (and is not accretive to) the Borrowers' existing
                  capital assets, (C) so long as no Default or Event of Default
                  shall have occurred and be continuing, to prepay, purchase or
                  otherwise redeem Bridge Loans, Senior Notes, Additional Senior
                  Notes or Senior Subordinated Notes pursuant to SECTION 7.2.8,
                  (D) so long as no Default or Event of Default shall have
                  occurred and be continuing, to make regularly schedule
                  interest payments with respect to the Senior Notes or the
                  Additional Senior Notes pursuant to SECTION 7.2.8, or (E) to
                  make voluntary prepayments of Revolving Loans pursuant to
                  SECTION 3.1.1(A)."

                   (h) The definition of "Senior Notes" is hereby amended and
          restated to read in its entirety as follows:

                           "SENIOR NOTES" is defined in the SIXTH RECITAL and
                  shall also include (i) any and all registered exchange notes
                  issued in exchange therefor in accordance with the Senior Note
                  Documents and (ii) any and all notes issued under the Senior
                  Note Indenture in exchange for Additional Senior Notes in
                  accordance with the

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                  Additional Senior Note Documents or to repay Bridge Loans in
                  accordance with the Bridge Facility."

         SECTION 2.03 AMENDMENT TO SECTION 2.2.2 OF THE CREDIT AGREEMENT. Clause
(a) of Section 2.2.2 of the Credit Agreement is hereby amended and restated to
read in its entirety as follows:

                  "(a) VHC shall have the right, at any time on or after the
         Closing Date and prior to the Commitment Termination Date, to increase
         the Revolving Loan Commitment Amount by an amount not to exceed
         $20,000,000 by requesting that the Syndication Agent arrange for one or
         more existing Lenders to increase the amount of their respective
         Revolving Loan Commitments or one or more Eligible Assignees to become
         Revolving Lenders under this Agreement; PROVIDED that (A) if VHC in
         good faith objects to the terms upon which the Syndication Agent is
         willing to arrange such increase or the Syndication Agent is unwilling
         or unable after diligent effort to arrange such increase, VHC (but no
         Lender or other financial institution) may arrange such increase; (B)
         before offering Revolving Loan Commitments to Eligible Assignees, VHC
         or the Syndication Agent, as applicable, shall first offer the
         additional Revolving Loan Commitments to existing Lenders on a pro rata
         basis; and (C) no Lender shall at any time be required to agree to
         increase its Revolving Loan Commitment or other obligations hereunder."

         SECTION 2.04 AMENDMENT TO SECTION 3.1.1 OF THE CREDIT AGREEMENT.
Section 3.1.1(c)(ii) of the Credit Agreement is hereby amended and restated to
read in its entirety as follows:

                  "(ii) NET DISPOSITION PROCEEDS. In the event the Parent or any
         of its Subsidiaries receives any Net Disposition Proceeds, VHC shall
         deliver to the Administrative Agent a calculation of the amount of such
         Net Disposition Proceeds, and, to the extent the aggregate amount of
         such proceeds received by the Parent and its Subsidiaries in connection
         with any single transaction or series of related transactions exceeds
         $2,000,000, the Borrowers shall within 30 days after receipt of such
         Net Disposition Proceeds, be obligated, jointly and severally, to make
         a mandatory prepayment of the Loans in an amount equal to 100% of such
         Net Disposition Proceeds; PROVIDED, HOWEVER, that upon written notice
         by VHC to the Administrative Agent not less than 30 days following
         receipt of any Net Disposition Proceeds (other than proceeds in respect
         of the LD Disposition), an aggregate amount of up to $25,000,000 (as
         such amount may be increased with the consent of the Required Lenders)
         of such proceeds over the term of this Agreement may be retained by VHC
         and its Subsidiaries (and be excluded from the prepayment requirements
         of this clause) if (x) VHC informs the Administrative Agent in such
         notice of its good faith intention to apply (or cause one or more of
         its Subsidiaries to apply) such Net Disposition Proceeds to the
         acquisition of other assets or properties consistent with the
         businesses permitted to be conducted pursuant to SECTION 7.2.1
         (including by way of merger or Investment), and (y) within 365 days
         following the receipt of such Net Disposition Proceeds, such proceeds
         are applied or committed to such acquisition. The amount of such Net
         Disposition Proceeds unused or uncommitted after such 365-day period
         shall be applied to the Loans as set forth in SECTION 3.1.2. At any
         time after receipt of any such Net Disposition Proceeds (other than in
         respect of the LD

                                       6
<Page>

         Disposition) in excess of $2,000,000 but prior to the application
         thereof to a mandatory prepayment or the acquisition of other assets or
         properties as described above, the Borrowers shall prepay Loans
         pursuant to SECTION 3.1.1(A) (with the amount of any such prepayment to
         continue to be considered to be Net Disposition Proceeds for purposes
         of this Agreement and the other Loan Documents) or, to the extent it
         elects not to so prepay Loans, upon written demand by the
         Administrative Agent (in its reasonable discretion) to the Borrowers,
         deposit an amount equal to such Net Disposition Proceeds into a cash
         collateral account maintained with (and reasonably satisfactory to) the
         Administrative Agent for the benefit of the Secured Parties (and over
         which the Administrative Agent shall have sole dominion and control)
         pending such application as a prepayment or to be released as requested
         by VHC in respect of such acquisition. Amounts deposited in such cash
         collateral account shall be invested in Cash Equivalent Investments, as
         directed by VHC."

         SECTION 2.05 AMENDMENT TO SECTION 6.15 OF THE CREDIT AGREEMENT. Section
6.15 of the Credit Agreement is hereby amended by adding, following the words
"as defined in the Senior Note Indenture" in the first parenthetical phrase in
the third sentence thereof, the expression "or, if any Additional Senior Notes
or Bridge Loans are outstanding, the Additional Senior Note Indenture or Bridge
Facility, respectively".

         SECTION 2.06 AMENDMENT TO SECTION 7.1.1 OF THE CREDIT AGREEMENT.
Section 7.1.1 of the Credit Agreement is hereby amended by deleting the existing
clause (i) thereof and inserting the following in place thereof:

                  "(i) Unless otherwise provided (or required to be provided)
         hereunder, promptly following the mailing or receipt of any notice or
         report delivered under the terms of the Senior Notes, the Additional
         Senior Notes, the Bridge Loans, the Senior Subordinated Notes or the
         Parent Debentures, VHC will provide copies of such notice or report."

         SECTION 2.07 AMENDMENT TO SECTION 7.1.5 OF THE CREDIT AGREEMENT. Clause
(c) of Section 7.1.5 of the Credit Agreement is hereby amended by deleting the
words "one such appraisal in any calendar year" and inserting in place thereof
"one such appraisal in any period of six calendar months".

         SECTION 2.08 AMENDMENT TO SECTION 7.1.7 OF THE CREDIT AGREEMENT.
Section 7.1.7 of the Credit Agreement is hereby amended by deleting the "and" at
the end of clause (b), relettering existing clause (c) as clause (d), and
inserting a new clause (c) to read as follows:

                  "(c) to consummate the Lehigh Acquisition; and".

         SECTION 2.09 AMENDMENT TO SECTION 7.1.8 OF THE CREDIT AGREEMENT.
Section 7.1.8 of the Credit Agreement is hereby amended by amending and
restating the proviso at the end thereof to read in its entirety as follows:

         "PROVIDED that (i) not more than 65% of the Voting Securities of any
         Non-U.S. Subsidiary shall be required to be pledged unless such
         Non-U.S. Subsidiary is treated for U.S. federal income tax purposes as
         a branch of a Borrower or is a partnership in which the

                                       7
<Page>

         partners are Borrowers and (ii) neither Lehigh Press Puerto Rico, Inc.
         nor Lehigh Press Puerto Rico, LLC shall be required to enter into a
         Joinder Agreement, a supplement to the Subsidiary Guaranty or the
         Pledge and Security Agreement, except as provided under SECTION 7.2.1.
         Notwithstanding clause (ii) of the foregoing proviso, but subject to
         the terms of SECTION 7.2.1, if Lehigh Press Puerto Rico, Inc. or Lehigh
         Press Puerto Rico, LLC is required to become a guarantor pursuant to
         the terms of documentation evidencing the Senior Notes, the Additional
         Senior Notes or the Bridge Loans, such Person shall enter into either a
         Joinder Agreement or a Subsidiary Guaranty before or concurrently with
         entering into such guaranty."

         SECTION 2.10 AMENDMENT TO SECTION 7.1.12 OF THE CREDIT AGREEMENT.
Section 7.1.12 of the Credit Agreement is hereby amended by (i) labeling the
existing Section 7.1.12 as clause (a), (ii) redesignating existing clauses
"(a)", "(b)" and "(c)" thereof as subclauses "(i)", "(ii)" and "(iii)" and (iii)
adding, at the end thereof, a new clause (b) to read in its entirety as follows:

                  "(b) Lehigh shall deliver to the Administrative Agent, on or
         before the 30th day following the date of the Lehigh Acquisition, a
         Mortgage with respect to each of the properties identified in SCHEDULE
         I to the Second Amendment, duly executed and delivered by Lehigh,
         together with

                           (i) evidence of the completion (or reasonably
                  satisfactory arrangements for the completion) of all
                  recordings and filings of each such Mortgage as may be
                  necessary or, in the reasonable opinion of the Administrative
                  Agent, desirable to create a valid, perfected first priority
                  Lien, subject to SECTION 7.2.3, against the properties
                  purported to be covered thereby;

                           (ii) mortgagee's title insurance policies in favor of
                  the Administrative Agent for the benefit of the Secured
                  Parties in form and substance, and issued by insurers,
                  reasonably satisfactory to the Administrative Agent, with
                  respect to the property set forth on SCHEDULE I to the Second
                  Amendment in the amounts set forth thereon, insuring that
                  title to such property is marketable and that the interests
                  created by such Mortgage constitute valid first Liens thereon,
                  subject to SECTION 7.2.3, free and clear of all defects and
                  encumbrances other than as approved by the Administrative
                  Agent and, if required by the Administrative Agent and if
                  available on commercially reasonable terms, revolving credit
                  endorsement, comprehensive endorsement, variable rate
                  endorsement, access and utilities endorsements, mechanic's
                  lien endorsement and such other endorsements as the
                  Administrative Agent shall reasonably request and shall be
                  accompanied by evidence of the payment in full of all premiums
                  thereon; and

                           (iii) such other approvals, or documents as the
                  Administrative Agent may reasonably request in form and
                  substance reasonably satisfactory to the Administrative
                  Agent."

                                       8
<Page>

         SECTION 2.11 AMENDMENT TO SECTION 7.1.14 OF THE CREDIT AGREEMENT.
Section 7.1.14 of the Credit Agreement is hereby amended by (i) labeling
existing 7.1.14 as clause (a) and (ii) adding, at the end thereof, a new clause
(b) to read in its entirety as follows:

                  "(b) On or prior to the 60th day immediately following the
         date of the Lehigh Acquisition, Lehigh shall deliver to the
         Administrative Agent deposit account control agreements and other
         documents and agreements, in each case duly executed by Lehigh and the
         applicable bank, as the Administrative Agent deems necessary or
         desirable to grant to the Administrative Agent, for the benefit of the
         Secured Parties, control over, and a perfected security interest in,
         each of the Deposit Accounts of Lehigh listed on SCHEDULE II to the
         Second Amendment; PROVIDED that if following the use of best efforts
         Lehigh is unable to obtain any such deposit account control agreements
         or other documents or agreements on or prior to such 60th day, the
         Administrative Agent may, at its sole discretion, extend the period of
         time by which Lehigh must satisfy the above requirement."

         SECTION 2.12 AMENDMENT TO SECTION 7.2.1 OF THE CREDIT AGREEMENT.
Section 7.2.1 of the Credit Agreement is hereby amended by deleting clause (b)
thereof and inserting the following clauses (b) and (c) in place thereof:

                  "(b) The Parent will not (i) hold any assets other than the
         Capital Securities of VHC and cash and Cash Equivalent Investments
         referred to in CLAUSE (III)(E) below, (ii) have any material
         liabilities other than (A) liabilities under the Loan Documents, (B)
         liabilities under the Parent Debentures, (C) liabilities for taxes
         incurred in the ordinary course of business and (D) Contingent
         Liabilities in respect of the Senior Notes, the Additional Senior
         Notes, the Bridge Loans and the Senior Subordinated Notes or (iii)
         engage in any business or activity other than (A) owning the Capital
         Securities of VHC (including purchasing additional Capital Securities
         after the Closing Date) and activities incidental or related thereto or
         to the maintenance of the corporate existence of the Parent or
         compliance with applicable law, (B) acting as a Guarantor hereunder and
         pledging its assets to the Administrative Agent, for the benefit of the
         Lenders, pursuant to the Loan Documents to which it is a party, (C)
         acting as the issuer of the Parent Debentures, (D) issuing its Capital
         Securities, (E) holding cash received as Restricted Payments permitted
         under SECTION 7.2.6 or as proceeds of its issuance of Capital
         Securities and investing and reinvesting such cash in Cash Equivalent
         Investments, (F) utilizing Net Equity Proceeds for Permitted Purposes,
         (G) acting as a guarantor under the Senior Notes, the Additional Senior
         Notes, the Bridge Loans and/or the Senior Subordinated Notes and
         otherwise carrying out its obligations under the Senior Note Documents,
         the Additional Senior Notes Documents, the Bridge Facility and the
         Senior Subordinated Note Documents to the extent not otherwise in
         contravention of this Agreement and (H) granting Liens permitted under
         SECTION 7.2.3(N).

                  (c) Unless, in the case of Lehigh Puerto Rico, Inc. or Lehigh
         Puerto Rico, LLC (each a "SPECIFIED SUBSIDIARY"), such Specified
         Subsidiary has become a Borrower or Subsidiary Guarantor (as applicable
         pursuant to SECTION 7.1.8), and a party to the Security and Pledge
         Agreement, and has fulfilled the other requirements set forth in
         SECTION 7.1.8, the Borrower will not permit (i) such Specified
         Subsidiary to (A) engage in any business

                                       9
<Page>

         activities other than its compliance with the obligations applicable to
         it under the Loan Documents, (B) own or possess any assets or property
         with a fair market value in an aggregate amount in excess of $25,000 or
         (C) consolidate or amalgamate with or merge into or with any Person
         other than a Subsidiary of VHC, provided that if the other party to
         such transaction is a Borrower or Subsidiary Guarantor the survivor of
         such transaction is a Borrower or Subsidiary Guarantor, as the case may
         be or (ii) Holdings or any Borrower or Subsidiary Guarantor to make any
         Investment in such Specified Subsidiary (other than Investments made
         solely to fund liabilities and expenses of the Specified Subsidiaries
         in connection with the litigation referred to in Section 4(t) of the
         Disclosure Schedule to the Lehigh Acquisition Agreement)."

         SECTION 2.13 AMENDMENT TO SECTION 7.2.2(E) OF THE CREDIT AGREEMENT.
Section 7.2.2(e) of the Credit Agreement is hereby amended and restated to read
in its entirety as follows:

                  "(e) the Senior Notes, the Additional Senior Notes, the Bridge
         Loans and the Senior Subordinated Notes of VHC in a principal amount
         (exclusive, with respect only to the Bridge Loans, of any principal
         amount consisting of interest accrued thereon which has been added to
         the principal amount thereof) not to exceed $375,000,000, and unsecured
         Contingent Liabilities of the Borrowers and the Guarantors in respect
         thereof, so long as, in the case of Contingent Liabilities in respect
         of the Senior Subordinated Notes, such Contingent Liabilities are
         subordinated to the Obligations on the same terms as the Senior
         Subordinated Notes, and refinancings of such Senior Notes, Additional
         Senior Notes, Bridge Loans, Senior Subordinated Notes and related
         Contingent Liabilities; PROVIDED, HOWEVER, that any such refinancing
         must be on No More Favorable Terms And Conditions than the Indebtedness
         being refinanced; PROVIDED FURTHER, HOWEVER, that such $375,000,000
         maximum amount shall be reduced dollar for dollar by the principal
         amount of all Senior Notes, Bridge Loans, Additional Senior Notes and
         Senior Subordinated Notes repaid, repurchased, redeemed or acquired by
         VHC pursuant to CLAUSE (iv) of the proviso to SECTION 7.2.8;".

         SECTION 2.14 AMENDMENTS TO SECTION 7.2.3 OF THE CREDIT AGREEMENT.
Section 7.2.3 of the Credit Agreement is hereby amended as follows:

                  (a) Clause (b) of Section 7.2.3 of the Credit Agreement is
          hereby amended and restated to read in its entirety as follows:

                           "(b) Liens, exceptions and title conditions (i)
                  existing as of the Closing Date and disclosed in ITEM 7.2.3(B)
                  of the Disclosure Schedule securing Indebtedness outstanding
                  as of the Closing Date and described in CLAUSE (B) of SECTION
                  7.2.2, PROVIDED, HOWEVER, that no such Lien shall encumber any
                  property other than that encumbered as of the Closing Date,
                  and the amount of Indebtedness secured by such Lien shall not
                  increase from that existing on the Closing Date (as such
                  Indebtedness may have been permanently reduced subsequent to
                  the Closing Date); and (ii) existing as of the date of the
                  Lehigh Acquisition with respect to certain equipment of Lehigh
                  disclosed to the Agents and the Lenders in a supplement to
                  ITEM 7.2.3(B) of the Disclosure Schedule (such

                                       10
<Page>

                  supplement to be in form and substance satisfactory to the
                  Administrative Agent); PROVIDED, HOWEVER, that no such Lien
                  shall encumber any property other than that encumbered as of
                  the date of the Lehigh Acquisition, and the amount of
                  obligations secured by such Lien shall not increase from that
                  existing on the date of the Lehigh Acquisition (as such
                  obligations may have been permanently reduced subsequent to
                  the date of the Lehigh Acquisition);".

                  (b) Section 7.2.3 of the Credit Agreement is hereby amended by
          deleting the "and" at the end of clause (l) thereof, inserting "; and"
          at the end of clause (m) thereof, and inserting a new clause (n)
          therein to read as follows:

                           "(n) Liens securing obligations under the Bridge
                  Facility (if any), PROVIDED that such Liens are in all
                  respects subordinated to and subject to the Liens securing
                  payment of the Obligations on terms and conditions
                  satisfactory to the Administrative Agent and the Required
                  Lenders."

         SECTION 2.15 AMENDMENTS TO SECTION 7.2.4 OF THE CREDIT AGREEMENT.
Section 7.2.4 of the Credit Agreement is hereby amended and restated to read in
its entirety as follows:

                  "SECTION 7.2.4 FINANCIAL CONDITION AND OPERATIONS.

                           (a) Leverage Ratio. VHC will not permit the Leverage
                  Ratio as of the end of any Fiscal Quarter occurring during any
                  period set forth below to be greater than the ratio set forth
                  opposite such period:

               PERIOD                                            LEVERAGE RATIO
               -----                                             --------------
July 16, 2003 through October 15, 2003                           5.75 to 1.00

October 16, 2003 through July 15, 2004                           6.50 to 1.00

July 16, 2004 through January 15, 2005                           6.25 to 1.00

January 16, 2005 through January 15, 2006                        6.00 to 1.00

January 16, 2006 through January 15, 2007 (if                    5.50 to 1.00
applicable)

January 16, 2007 through January 15, 2008 (if                    5.00 to 1.00.
applicable)

                                       11

<Page>

                           (b) Fixed Charge Coverage Ratio. VHC will not permit
                  the Fixed Charge Coverage Ratio as of the end of any Fiscal
                  Quarter occurring during any period set forth below to be less
                  than the ratio set forth opposite such period:

                                                          FIXED CHARGE
              PERIOD                                     COVERAGE RATIO
              ------                                     ---------------
June 15, 2002 through January 15, 2006                    1.00 to 1.00

January 16, 2006 and thereafter                           1.05 to 1.00."

         SECTION 2.16 AMENDMENT TO SECTION 7.2.5 OF THE CREDIT AGREEMENT.
Section 7.2.5 of the Credit Agreement is hereby amended by (i) deleting the word
"and" at the end of clauses (i) and (k) thereof, (ii) replacing the reference to
clause "(j)" appearing in clause (l) thereof with a reference to clause "(k)",
(iii) replacing the period at the end of clause (l) thereof with the expression
"; and", redesignating clauses "(j)", "(k)" and "(l)" thereof as clauses "(k)",
"(l)" and "(m)", (iv) adding, following clause (i) thereof, a new clause (j) to
read in its entirety: "(j) the Lehigh Acquisition; and", and (v) adding, at the
end thereof, a new clause (n) to read in its entirety as follows:

                  "(n)  no Investment otherwise permitted by clause (j) shall
                  be made unless,

                            (i) at the time of, and immediately after the making
                  of, such Investment no Default shall have occurred and be
                  continuing;

                           (ii) VHC shall have received approximately
                  $60,000,000 in gross cash proceeds from either (i) the
                  issuance of Additional Senior Notes or (ii) borrowings under
                  the Bridge Facility on the terms and conditions set forth in
                  the term sheet therefor provided to the Agents prior to the
                  Second Amendment Effective Date or such other terms and
                  conditions as shall be reasonably satisfactory to the
                  Administrative Agent following consultation with the
                  Syndication Agent;

                           (iii) the Administrative Agent shall have received
                  counterparts of a Joinder Agreement executed on behalf of
                  Lehigh, pursuant to which Lehigh agrees to become a Borrower
                  under the Credit Agreement pursuant to the terms of SECTION
                  7.1.8(A);

                           (iv) the Administrative Agent shall have received
                  counterparts of a supplement to the Pledge and Security
                  Agreement, in the form of Annex I to the Pledge and Security
                  Agreement (the "LEHIGH SUPPLEMENT"), together with

                                    (w) all schedules and attachments related
                           thereto;

                                    (x) a Uniform Commercial Code financing
                           statement (Form UCC-1) naming Lehigh as the debtor
                           and the Administrative Agent as the secured party, or
                           other similar instruments or documents, in
                           appropriate form for filing under the Uniform
                           Commercial Code of all jurisdictions as

                                       12
<Page>

                           may be necessary or, in the reasonable opinion of the
                           Administrative Agent, desirable to perfect the
                           security interest of the Administrative Agent
                           pursuant to the Lehigh Supplement (other than the
                           perfection of security interests in motor vehicles,
                           leasehold interests in real property and non-U.S.
                           intellectual property);

                                     (y) certificates representing all of the
                            issued and outstanding shares of Capital Securities
                            of Lehigh and Lehigh Press Puerto Rico, Inc., along
                            with undated stock powers for such certificates,
                            executed in blank; and

                                     (z) executed counterparts of Patent
                            Security Agreements, Trademark Security Agreements
                            and Copyright Security Agreements, as applicable,
                            with respect to any U.S. Intellectual Property
                            Collateral of Lehigh;

                           (v) the Agents shall have received opinions, dated
                  the date of the Lehigh Acquisition and addressed to the Agents
                  and all Lenders, from

                                     (x) special New York counsel to Lehigh and,
                            if applicable, its Subsidiaries, in form and
                            substance reasonably satisfactory to the Agents; and

                                     (y) local counsel to Lehigh and, if
                            applicable, its Subsidiaries, in form and substance
                            reasonably satisfactory to the Agents.

                           (vi) immediately after giving effect to the Lehigh
                  Acquisition and the making of the Credit Extensions in respect
                  thereof, Excess Availability shall be not less than
                  $20,000,000; and

                           (vii) the Administrative Agent shall have received,
                  for the account of each Lender that became a signatory to the
                  Second Amendment on or prior to the Second Amendment Effective
                  Date, a closing fee in an amount equal to 0.15% of each such
                  Lender's Percentage of the Revolving Loan Commitment Amount as
                  of the date of the Lehigh Acquisition, without giving effect
                  to any increase in the Revolving Loan Commitment Amount on or
                  after the Second Amendment Effective Date."

         SECTION 2.17 AMENDMENT TO SECTION 7.2.8 OF THE CREDIT AGREEMENT.
Section 7.2.8 of the Credit Agreement is hereby amended and restated to read in
its entirety as follows:

                  "SECTION 7.2.8. NO PREPAYMENT OF OTHER DEBT. Other than in
         connection with a refinancing permitted pursuant to SECTION 7.2.2,
         neither the Parent nor any Borrower will or will permit any of its
         respective Subsidiaries to, directly or indirectly, make any payment or
         prepayment of principal of, or premium or interest on, or redeem,
         retire, purchase, defease or otherwise acquire (or make any deposit
         (including the payment of amounts into a sinking fund or other similar
         fund) for any of the foregoing purposes) any Senior Notes, any
         Additional Senior Notes, any Bridge Loans, any Senior Subordinated

                                       13
<Page>

         Notes or any Parent Debentures; PROVIDED that (i) so long as such
         payment would not violate the terms of this Agreement, the Senior Notes
         Documents, the Additional Senior Notes Documents, the Bridge Facility
         or the applicable Sub Debt Documents, VHC may make payments of accrued
         and unpaid interest on the Senior Notes, the Additional Senior Notes,
         the Bridge Loans and the Senior Subordinated Notes (and accrued
         interest on the Parent Debentures may be capitalized and added to the
         outstanding principal amount thereof in accordance with the Parent
         Debenture Documents) on the stated, scheduled date for payment thereof
         set forth in the Senior Note Documents, the Additional Senior Note
         Documents, the Bridge Facility or the Sub Debt Documents, as
         applicable, VHC may make mandatory redemptions of Bridge Loans, Senior
         Notes or Additional Senior Notes following a Change of Control as
         required by the Bridge Facility, the Senior Note Documents or
         Additional Senior Note Documents, VHC may make mandatory prepayments of
         the Bridge Loans with the proceeds of the LD Disposition (subject to
         the requirements of SECTION 3.1.1) and VHC may redeem Additional Senior
         Notes as required by the Additional Senior Note Documents as a result
         of the Lehigh Acquisition not being consummated or the Lehigh
         Acquisition Agreement being terminated prior to the consummation of the
         Lehigh Acquisition; (ii) the Parent may repay Indebtedness permitted
         pursuant to SECTION 7.2.2(F) using Net Equity Proceeds to the extent
         such repayment constitutes a Permitted Purpose; (iii) VHC may repay,
         repurchase or otherwise redeem or acquire Senior Notes, Additional
         Senior Notes, Bridge Loans, and/or Senior Subordinated Notes using Net
         Equity Proceeds, in each case to the extent such repayment, repurchase
         or other redemption or acquisition constitutes a Permitted Purpose; and
         (iv) VHC may repay, repurchase or otherwise redeem or acquire Senior
         Notes, Additional Senior Notes, Bridge Loans, and/or Senior
         Subordinated Notes using cash from operations or proceeds of Loans in
         an aggregate amount not to exceed $50,000,000 (inclusive of related
         fees and expenses), PROVIDED that (in the case of this CLAUSE (IV))
         prior to any such repayment, repurchase, redemption or acquisition VHC
         shall have delivered to the Administrative Agent a pro-forma Compliance
         Certificate demonstrating that, upon giving effect to such repayment,
         repurchase, redemption or acquisition and any Credit Extensions made or
         to be made in connection therewith, on a pro-forma basis (calculated in
         accordance with SECTION 1.4(C)) (A) VHC shall be in compliance with all
         of the financial covenants set forth in SECTION 7.2.4 hereof as of the
         last day of the most recent period of four consecutive fiscal quarters
         of VHC which precedes or ends on the date of such repayment,
         repurchase, redemption or acquisition and with respect to which the
         Administrative Agent has received the consolidated financial
         information required under CLAUSES (A) and (B) of SECTION 7.1.1 and the
         certificate required by CLAUSE (D) of SECTION 7.1.1, (B) Excess
         Availability shall equal or exceed $35,000,000 and (C) no Default or
         Event of Default shall have occurred and be continuing or would result
         therefrom. Furthermore, neither the Parent, any Borrower nor any of
         their respective Subsidiaries will designate any Indebtedness other
         than the Obligations as "Designated Senior Debt" pursuant to any Senior
         Subordinated Note Document or Parent Debenture Document."

         SECTION 2.18 AMENDMENT TO SECTION 7.2.10 OF THE CREDIT AGREEMENT.
Clause (b) of Section 7.2.10 of the Credit Agreement is hereby amended by
deleting "CLAUSE (G) or (J) of SECTION 7.2.5" and inserting in place thereof
"CLAUSE (G), (J) or (K) of SECTION 7.2.5".

                                       14
<Page>

         SECTION 2.19 AMENDMENT TO SECTION 7.2.11 OF THE CREDIT AGREEMENT.
Section 7.2.11 of the Credit Agreement is hereby amended by adding a new clause
(i) to read as follows:

                  "(i) the LD Disposition; PROVIDED (x) such Disposition is for
         fair market value and the consideration received consists of no less
         than 75% in cash and (y) the Net Disposition Proceeds thereof are
         applied in accordance with the terms of SECTION 3.1.1."

         SECTION 2.20 AMENDMENT TO SECTION 7.2.12 OF THE CREDIT AGREEMENT.
Section 7.2.12 of the Credit Agreement is hereby amended by deleting such
section and inserting the following in place thereof:

                  "Section 7.2.12 MODIFICATION OF CERTAIN AGREEMENTS. The Parent
         and the Borrowers will not, and will not permit any of their respective
         Subsidiaries to, enter into any amendment, supplement, waiver or other
         modification of, or enter into any forbearance from exercising any
         rights with respect to the terms or provisions contained in, the Senior
         Note Documents, the Additional Senior Note Documents, the Bridge
         Facility, the Senior Subordinated Note Documents or the Parent
         Debenture Documents, in each case which would (a) increase the
         principal amount of, or increase the interest rate on, or add or
         increase any fee with respect to the Indebtedness evidenced by such
         Senior Note Document, Additional Senior Note Document, Bridge Facility,
         Senior Subordinated Note Document or Parent Debenture Document or
         advance any dates upon which payments of principal or interest are due
         thereon, (b) in the case of any Senior Subordinated Note Document or
         Parent Debenture Document, change the subordination provisions thereof
         (including any default or conditions to an event of default relating
         thereto), or change any collateral therefor (other than to release such
         collateral), if (in the case of this CLAUSE (B)) the effect of such
         amendment or change, individually or together with all other amendments
         or changes made, is to increase the obligations of the obligor
         thereunder or to confer any additional rights on the holders of the
         Senior Subordinated Notes or the Parent Debentures, as the case may be
         (or a trustee or other representative on their behalf), or (c) add or
         modify any covenants or defaults or events of default relating thereto,
         if (in the case of this CLAUSE (C)), the effect of such addition or
         modification, individually or together with all other additions or
         changes made, is to materially increase the obligations of the obligor
         thereunder or to confer any material additional rights on the holders
         of such Indebtedness (or a trustee or other representative on their
         behalf)."

         SECTION 2.21 AMENDMENT TO SECTION 7.2.15 OF THE CREDIT AGREEMENT.
Section 7.2.15 of the Credit Agreement is hereby amended by deleting "the amount
of the Maximum PP&E Advance Amount then in effect" in clause (ii) thereof and
inserting "an amount equal to at least $40,000,000" in place thereof.

                                  ARTICLE III
                              CONDITIONS PRECEDENT

         This Second Amendment (and the amendments contained herein) shall
become effective on the date (the "SECOND AMENDMENT EFFECTIVE DATE") when each
of the conditions set forth in this ARTICLE III shall have been satisfied.

                                       15
<Page>

         SECTION 3.01 COUNTERPARTS AND LENDER CONSENTS. The Administrative Agent
shall have received counterparts hereof executed on behalf of each Obligor and
the Lenders necessary to approve this Second Amendment and the amendments
contained herein.

         SECTION 3.02 ADMINISTRATIVE AGENT FEE. The Administrative Agent shall
have received for its own account an administration fee in the amount previously
agreed.

         SECTION 3.03 OTHER COSTS AND EXPENSES. The Administrative Agent shall
have received (i) all fees, costs and expenses (including, without limitation,
all fees and disbursements of Mayer, Brown, Rowe & Maw LLP in connection with
the preparation, negotiation, execution and delivery of this Second Amendment)
due and payable pursuant to Sections 3.3 and 11.3 of the Credit Agreement to the
extent then invoiced and as otherwise agreed by VHC or any of the Borrowers and
(ii) reasonable fees and disbursements of Hahn & Hessen LLP in connection with
the negotiation of this Second Amendment to the extent then invoiced.

                                   ARTICLE IV
                         REPRESENTATIONS AND WARRANTIES

         SECTION 4.01 REPRESENTATIONS AND WARRANTIES. In order to induce the
Lenders to consent to the amendments contained herein and to enter into this
Second Amendment, each Obligor, jointly and severally, represents and warrants
as set forth below:

                  (a) After giving effect to this Second Amendment, the
          amendment of certain provisions of the Credit Agreement does not
          impair the validity, effectiveness or priority of the Liens that have
          been granted pursuant to any Loan Documents relating thereto (the
          "SECURITY DOCUMENTS"), and such Liens continue unimpaired with the
          same priority to secure repayment of all Obligations, whether
          heretofore or hereafter incurred. The amendment of certain provisions
          of the Credit Agreement effected pursuant to this Second Amendment do
          not require that any new filings be made or other action taken to
          perfect or to maintain the perfection of such Liens. The position of
          the Lenders with respect to such Liens, the Collateral (as defined in
          the Security Documents) in which a security interest was granted
          pursuant to the Security Documents, and the ability of the
          Administrative Agent to realize upon such Liens pursuant to the terms
          of the Security Documents have not been adversely affected in any
          material respect by the amendment of certain provisions of the Credit
          Agreement effected pursuant to this Second Amendment or by the
          execution, delivery, performance or effectiveness of this Second
          Amendment.

                  (b) Each Obligor reaffirms as of the Second Amendment
          Effective Date such Person's respective covenants and agreements
          contained in the Credit Agreement, each Security Document to which
          such Person is a party, including, in each case, as such covenants and
          agreements may be modified by this Second Amendment.

                  (c) Both immediately before and immediately after giving
          effect to this Second Amendment, the representations and warranties
          set forth in Article VI of the Credit Agreement and each other Loan
          Document are, in each case, true and correct (unless stated to relate
          solely to an earlier date, in which case such representations and
          warranties shall be true and correct as of such earlier date).

                                       16
<Page>

          SECTION 4.02 VALIDITY, ETC. This Second Amendment constitutes the
legal, valid and binding obligation of the Obligors enforceable in accordance
with its terms subject to the effects of bankruptcy, insolvency, fraudulent
conveyance, reorganization, moratorium and other similar laws relating to or
affecting creditors' rights generally, general equitable principles (whether
considered in a proceeding in equity or at law) and an implied covenant of good
faith and fair dealing.

          SECTION 4.03 NO DEFAULT. Both immediately before and immediately after
giving effect to this Second Amendment, no Default has occurred and is
continuing.

                                   ARTICLE V
                            MISCELLANEOUS PROVISIONS

          SECTION 5.01 RATIFICATION OF AND REFERENCES TO THE CREDIT AGREEMENT.
This Second Amendment shall be deemed to be an amendment to the Credit
Agreement, and the Credit Agreement, as amended hereby, is hereby ratified,
approved and confirmed in each and every respect. All references in the Loan
Documents or in any other document, instrument, agreement or writing to the
"Credit Agreement", "hereunder", "thereunder", "hereof", "thereof", "herein",
"therein" or words of like or similar import shall from and after the Second
Amendment Effective Date mean and be a reference to the Credit Agreement as
amended hereby. Other than as specifically provided herein, this Second
Amendment shall not operate as a waiver or amendment of any right, power or
privilege of any Agent or any Lender under the Credit Agreement or any other
Loan Document or of any other term or condition of the Credit Agreement or any
other Loan Document, nor shall the entering into of this Second Amendment
preclude any Agent and/or any Lender from refusing to enter into any further
waivers or amendments with respect thereto.

          SECTION 5.02 HEADINGS. The various headings of this Second Amendment
are inserted for convenience only and shall not affect the meaning or
interpretation of this Second Amendment or any provisions hereof.

          SECTION 5.03 EXECUTION IN COUNTERPARTS. This Second Amendment may be
executed by the parties hereto in several counterparts, each of which shall be
deemed to be an original and all of which shall constitute together but one and
the same agreement. A counterpart hereof executed and delivered by facsimile
shall be effective as an original.

          SECTION 5.04 SUCCESSORS AND ASSIGNS. This Second Amendment shall be
binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns.

          SECTION 5.05 GOVERNING LAW; ENTIRE AGREEMENT. THIS SECOND AMEND-MENT
SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF
THE STATE OF NEW YORK. This Second Amendment and the other Loan Documents
constitute the entire understanding among the parties hereto with respect to the
subject matter hereof and supersede any prior agreements, written or oral, with
respect thereto.

                                       17

<Page>

         IN WITNESS WHEREOF, the signatories hereto have caused this Second
Amendment to be executed by their respective officers thereunto duly authorized
as of the day and year first above written.

                                    VON HOFFMANN HOLDINGS, INC.

                                    By:  /s/ GARY WETZEL
                                         -------------------------------------
                                         Name:  Gary C. Wetzel
                                         Title:  Senior Vice President, Chief
                                         Financial Officer, Treasurer

                                    VON HOFFMANN CORPORATION

                                    By:  /s/ GARY WETZEL
                                         ------------------------------------
                                         Name:  Gary C. Wetzel
                                         Title:  Senior Vice President, Chief
                                         Financial Officer, Treasurer

                                    H&S GRAPHICS, INC.

                                    By:  /s/ GARY WETZEL
                                         -----------------------------------
                                         Name:  Gary C. Wetzel
                                         Title:  Senior Vice President, Chief
                                         Financial Officer, Treasurer

                                    PRECISION OFFSET PRINTING
                                    COMPANY, INC.

                                    By:  /s/ GARY WETZEL
                                         -----------------------------------
                                         Name:  Gary C. Wetzel
                                         Title:  Senior Vice President, Chief
                                         Financial Officer, Treasurer

<Page>

                                    PREFACE, INC.

                                    By:  /s/ GARY WETZEL
                                         ------------------------------------
                                         Name:  Gary C. Wetzel
                                         Title:  Senior Vice President, Chief
                                         Financial Officer, Treasurer

<Page>

LENDERS:                            THE CIT GROUP/BUSINESS CREDIT, INC.,
                                    as Lender and as Administrative Agent

                                    By:  /s/ BARBARA F. PERICH
                                         --------------------------------------
                                         Name: Barbara F. Peric
                                         Title:   Vice President

                                    US BANK NATIONAL ASSOCIATION

                                    By: _____________________________________
                                         Name:
                                         Title:

                                    THE BANK OF NOVA SCOTIA

                                    By:  /s/ N. BELL
                                         --------------------------------------
                                         Name:  N. Bell
                                         Title:  Sr. Manager -- Loan Operations

<Page>

                                    WHITEHALL BUSINESS CREDIT CORPORATION

                                    By: /s/ JOE ZAUTA
                                        --------------------------------------
                                         Name:   Joe Zauta
                                         Title:  Vice President

                                    LASALLE BUSINESS CREDIT, INC.

                                    By: /s/  MICHAEL F. ALIBERTO III
                                        --------------------------------------
                                         Name:  Michael F. Aliberto III
                                         Title: Vice President

                                    TRANSAMERICA BUSINESS CAPITAL CORPORATION

                                    By: /s/ STEPHEN K. GOETSCHLUS
                                        --------------------------------------
                                         Name:  Stephen K. Goetschlus
                                         Title: Senior Vice President

                                    CREDIT INDUSTRIEL ET COMMERCIAL

                                    By: /s/ SEAN MOUNIER
                                        -------------------------------------
                                         Name:  Sean Mounier
                                         Title: First Vice President

                                    CREDIT INDUSTRIEL ET COMMERCIAL

                                    By: /s/ ANTHONY ROCK
                                        --------------------------------------
                                         Name:  Anthony Rock
                                         Title: Vice President

<Page>

                            SCHEDULE I: REAL PROPERTY

7001 North Park Drive, Pennsauken, NJ  08109 (Camden County)

1900 South 25th Avenue, Broadview, IL  60153 (Cook County)

<Page>

                          SCHEDULE II: DEPOSIT ACCOUNTS

BANK                         TYPE OF ACCOUNT          ACCOUNT NUMBER
---------------------------- ------------------------ -----------------------
Fleet Bank                   Block Dominion           9427720630
---------------------------- ------------------------ -----------------------
Fleet Bank                   Master Operating         9427720657
---------------------------- ------------------------ -----------------------
Fleet Bank                   Payroll                  9427720665
---------------------------- ------------------------ -----------------------
Fleet Bank                   Payables                 9427720673
---------------------------- ------------------------ -----------------------
Bank One                     Petty Cash               000365060123624
---------------------------- ------------------------ -----------------------
Harris Bank                  Savings                  9510501520
---------------------------- ------------------------ -----------------------

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