Document:

exv10w6

Exhibit 10.6

95 Hayden Avenue · Lexington · MA 02421 · USA

T: 1 · 781 · 652 · 6300  F: 1 · 781 · 652
· 6100 www.vistaprint.com

	 	 	 

	To:

	 	Janet Holian
	From:

	 	Robert Keane
	Date:

	 	October 20, 2010
	RE:

	 	Amendment No. 1 to Barcelona Expatriate Agreement

We are asking you to sign this letter to confirm an amendment to the Barcelona Expatriate Agreement
dated March 11, 2010 between you and Vistaprint USA, Incorporated (the “Agreement”). By signing
below, you agree as follows:

1. The paragraph in the Agreement entitled “Housing & Additional Expense Coverage” is amended by
deleting the first sentence of such paragraph and replacing it with “The Company will compensate
you for a maximum of €70,000 per year of miscellaneous expenses associated with your
assignment for housing and related costs.”

2. Except as specifically set forth in this amendment, the Agreement remains unchanged and in full
force and effect.

Vistaprint USA, Incorporated

	 	 	 	 	 
	 	 	 
	By:  	/s/ Michael Giannetto	 	 
	 	Michael Giannetto 	 	 
	 	Executive Vice President and Chief Financial Officer 	 	 
	 

/s/ Janet Holian 

Janet Holianexv10w7

Exhibit 10.7

ANNUAL AWARD AGREEMENT

Vistaprint N.V.

Award Agreement For Fiscal Year [20XX]

under the

Vistaprint N.V. Performance Incentive Plan For Covered Employees

Participant:                                        

Vistaprint N.V. (the “Company”) hereby agrees to award to the participant named above (the
“Participant”) on the date set forth below (the “Vesting Date”) a cash amount determined pursuant
to the formula set forth below (the “Cash Payment Amount”).

By your acceptance of this Award Agreement, you agree that the Cash Payment Amount will be awarded
under and governed by the terms and conditions of the Vistaprint N.V. Performance Incentive Plan,
as amended from time to time (the “Plan”) and by the terms and conditions of the Vistaprint N.V.
Performance Incentive Award Agreement — Terms and Conditions (“Terms and Conditions”), which is
attached hereto (this Award Agreement and the Terms and Conditions are together referred to as the
“Agreement”). If the conditions described in this Agreement are satisfied, the Cash Payment Amount
will be paid under the Plan on the applicable Payment Date (as defined in the Terms and
Conditions).

For purposes of this Agreement, the performance period shall last for one fiscal year of the
Company (the “Performance Period”) and shall end on the Vesting Date set forth below. Except as
otherwise provided in the Plan and the Terms and Conditions, the Compensation Committee of the
Supervisory Board of the Company (the “Compensation Committee”) must certify in writing that the
performance criteria set forth below have been satisfied for the Performance Period.

Base Amount, EPS Target and Revenue Target

As more fully described below and in the Terms and Conditions, the Cash Payment Amount paid on the
Payment Date shall be determined based on the base amount indicated below (the “Base Amount”) and
the extent to which the Company achieves the earnings per share target (“EPS Target”) and revenue
target (“Revenue Target”) indicated below.

Base Amount for the Performance Period: $                                        

Targets:

	 	 	 	 	 
	Vesting Date	 	EPS Target	 	Revenue Target
	June 30, 2011
	 	 	 	 

 

 

Calculation of Cash Payment Amount

Payout Percentage = (0.5 X Revenue Target Percentage^0.5 + 0.5 X EPS Target Percentage^0.5)^19.2

The Cash Payment Amount for the Performance Period shall equal the Base Amount set forth above
multiplied by the Payout Percentage (as defined below).

	 	•	 	If achievement of either the EPS Target or Revenue Target is less than 90% of such
Target for the Performance Period, then the Payout Percentage shall be deemed to be equal
to 0% and no Cash Payment Amount shall be paid.
	 
	 	•	 	If achievement of both of the EPS Target and Revenue Target is greater than 90%, the
Payout Percentage shall be determined based on the formula set forth above, where:

	 	•	 	“Revenue Target Percentage” equals the percentage obtained by dividing

	 	(i)	 	the “Constant Currency Revenue”, defined below,
achieved by the Company during the Performance Period, by
	 
	 	(ii)	 	the Revenue Target.
	 
	 	•	 	Constant Currency Revenue will be calculated by adjusting the revenue
achieved in accordance with United States generally accepted accounting
principles (“US GAAP”) to use the currency exchange rates set forth in the
Company’s budget for the Performance Period, so long as the Company’s
Supervisory Board approves such budget before the 90th day of the
Performance Period. If the Supervisory Board fails to approve the budget
for the Performance Period before the 90th day, then the Company shall use
the currency exchange rates set forth in the Company’s budget for the
fiscal year immediately preceding the Performance Period In each case, the
Compensation Committee must certify the adjusted revenue so calculated.

	 	•	 	“EPS Target Percentage” equals the percentage obtained by dividing

	 	(i)	 	the earnings per share determined in accordance with US
GAAP achieved by the Company during the Performance Period, by
	 
	 	(ii)	 	the EPS Target.
	 
	 	•	 	For avoidance of doubt, EPS calculations shall be inclusive (net of) the
expense associated with any and all employee compensation or bonus plans,
including those made pursuant to the Plan.

	 	•	 	Notwithstanding anything herein to the contrary, in no event shall the Payout Percentage
exceed 250%.

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Example (the following is an example only and does not reflect actual targets or awards)

The following chart sets forth example Payout Percentages that would result from the formula set
forth above based on various combinations of Revenue Target Percentages and EPS Target Percentages.
The table shows only a subset of possible combinations: actual target percentages are to be
calculated directly using the methodology described above.

Revenue Target Percentage

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	EPS Target	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Percentage	 	90%	 	95%	 	100%	 	105%	 	110%	 	115%	 	120%
	90%
	 	 	36	%	 	 	47	%	 	 	61	%	 	 	77	%	 	 	98	%	 	 	122	%	 	 	152	%
	95%
	 	 	47	%	 	 	61	%	 	 	78	%	 	 	99	%	 	 	125	%	 	 	156	%	 	 	194	%
	100%
	 	 	61	%	 	 	78	%	 	 	100	%	 	 	127	%	 	 	159	%	 	 	198	%	 	 	245	%
	105%
	 	 	77	%	 	 	99	%	 	 	127	%	 	 	160	%	 	 	200	%	 	 	248	%	 	 	250	%
	110%
	 	 	98	%	 	 	125	%	 	 	159	%	 	 	200	%	 	 	250	%	 	 	250	%	 	 	250	%
	115%
	 	 	122	%	 	 	156	%	 	 	198	%	 	 	248	%	 	 	250	%	 	 	250	%	 	 	250	%
	120%
	 	 	152	%	 	 	194	%	 	 	245	%	 	 	250	%	 	 	250	%	 	 	250	%	 	 	250	%

For example, if for the Performance Period ending June 30, 2011 the Base Amount, EPS Target
and Revenue Target were as follows:

	 	 	 	 	 	 	 	 	 
	Example Base	 	 	 	 	 	Example Revenue
	Amount	 	Example EPS Target	 	Target
	$50,000
	 	$	2.00	 	 	$	50,000,000	 

and the Company’s adjusted earnings per share as certified by the Compensation Committee for such
Performance Period were $2.10 and the Company’s adjusted revenue as certified by the Compensation
Committee for such Performance Period was $45,000,000, then the Payout Percentage would be 77% and
the Cash Payout Amount would be $38,500, determined as follows: “EPS Target Percentage” is equal to
105% (the amount obtained by dividing the $2.10 adjusted earnings per share as certified by the
Compensation Committee by the $2.00 EPS Target) and “Revenue Target Percentage” is equal to 90%
(the amount obtained by dividing the $45,000,000 adjusted revenue as certified by the Compensation
Committee by the $50,000,000 Revenue Target), resulting in the following calculations:

	 	 	 

	Payout Percentage

	 	= (0.5 X 90%^0.5 + 0.5 X 105%^0.5)^19.2
	Payout Percentage

	 	= 77%
	Cash Payment Amount

	 	= Base Amount × Payout Percentage
	Cash Payment Amount

	 	= $50,000 × 77%
	Cash Payment Amount

	 	= $38,500

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Accepted and Agreed:	

Vistaprint N.V.

 	 
	           
                      
           	By:  	 	 
	 		Name: 	 	 
	 		Title 	 	 

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Vistaprint N.V.

Award Agreement For Fiscal Year [20XX]

under the

Vistaprint N.V. Performance Incentive Plan For Covered Employees

Terms and Conditions

1. Award. If all the conditions set forth in this Agreement are satisfied, on the Payment
Date (as defined below), a Cash Payment Amount will be made under the Plan to the Participant named
in the accompanying Award Agreement. Except as provided in Section 3 below or Articles VI and XI
of the Plan, (i) no Cash Payment Amount shall be made until the Payment Date, and (ii) the
Participant shall have no rights to any Cash Payment Amount until the Vesting Date. Except where
the context otherwise requires, the term “the Company” shall include any Related Company.
Capitalized terms used but not defined herein shall have the meaning ascribed to them in the Award
Agreement or the Plan.

2. Conditions for the Award. Except as provided in Section 3 below or Articles VI and XI
of the Plan, a Cash Payment Amount shall be paid only if all of the following conditions are
satisfied:

     (a) The Participant is, and has continuously been, an employee of the Company beginning with
the date of this Agreement and continuing through the Vesting Date.

     (b) The performance criteria set forth in the accompanying Award Agreement are satisfied
during the Performance Period. The Compensation Committee must determine and certify in writing at
the end of the Performance Period the extent, if any, to which the performance criteria have been
achieved. In making its determination, the Compensation Committee shall adjust the performance
criteria proportionately to take into account:

     (1) Reductions in earnings per share, as compared to the EPS Targets set forth in the
Award Agreement for the applicable Performance Period, that the Compensation Committee
reasonably determines have resulted from any acquisitions or dispositions of businesses by
the Company and/or any of its subsidiaries (the “Consolidated Company”) that are completed
during or before the Performance Period but after the date on which the Compensation
Committee determines the EPS Targets set forth in the Award Agreement (the “Eligible
Period”), including but not limited to the amortization of intangibles and other assets,
transaction costs and expenses, and additional dilution resulting from the acquisition or
disposition.

     (2) Reductions in earnings per share, as compared to the EPS Targets set forth in the
Award Agreement for the applicable Performance Period, that result directly from amounts
that are paid or payable by the Consolidated Company during the applicable Performance
Period (1) under any settlement agreement between the Consolidated Company and Soverain
Software LLC or any of its affiliates, or (2) in damages or penalties awarded by a court in
a final, nonappealable judgment, in each case in connection with the lawsuit originally
filed by Soverain Software on June 26, 2009 in the United States District Court for the
Eastern District of Texas, including any appeals thereto, and in each case where the
settlement or court award occurred during Eligible Period.

     (3) Changes (whether reductions or increases) in earnings per share, as compared to the
EPS Targets set forth in the Award Agreement for the applicable Performance Period, that
result directly from amounts that are paid or payable to or by the Consolidated Company
during the applicable Performance Period (1) under any agreement that the Consolidated
Company or any of its subsidiaries enter into in settlement of a Lawsuit, or (2) in damages
or penalties awarded by a court or other governmental agency in final nonappealable judgment
of a Lawsuit, in each case where the settlement or award occurred during the Eligible
Period. A “Lawsuit” is a lawsuit or similar process for presenting claims for adjudication
by any state, federal, national or local court or governmental or regulatory agency in which
(a) the Consolidated Company is a party and (b) the aggregate amount of settlement, damages
and/or penalties paid or payable

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to or by the Consolidated Company is $2,000,000 or more. The $2,000,000 threshold
applies to each individual Lawsuit, not in the aggregate to all Lawsuits affecting the
Performance Period. If the $2,000,000 threshold is reached with respect to the settlement or
adjudication of a Lawsuit, then the performance criteria shall be proportionately adjusted
to take into account the full amount of the settlement, damages or penalties, not just the
amounts over $2,000,000.

     (4) Any effect of the Company’s changing the basis of its financial statements filed
with the US Securities and Exchange Commission (the “SEC” ) from US GAAP to International
Financial Reporting Standards or another accounting standard permitted by the SEC for use by
registered companies (“New Accounting Standard”). If the EPS Targets are determined in
accordance with US GAAP and the Company elects to report its financial results to the SEC in
accordance with the New Accounting Standard for a Performance Period, then the Compensation
Committee shall reconcile the financial results prepared in accordance with the New
Accounting Standard for filing with the SEC to the results that would have been reported for
such Performance Period in accordance with US GAAP and determine the extent, if any, to
which the performance criteria have been achieved by comparing the EPS Targets set forth in
the Award Agreement for the applicable Performance Period to the reconciled US GAAP results
for such Performance Period.

     (c) The Cash Payment Amount shall be paid only in the amount determined pursuant to the
formula provided under the heading “Calculation of Cash Payment Amount” in the Award Agreement. If
achievement of either the EPS Target or Revenue Target is below 90% for the Performance Period, no
Cash Payment Amount shall be paid for such period.

3. Employment Events Affecting Payment of Award.

     (a) If the Participant dies or becomes disabled (within the meaning of Section 22(e)(3) of the
Code) prior to the end of the Performance Period, then the Participant or his estate will
nevertheless be eligible to receive on the Payment Date the pro rata share of the Cash Payment
Amount based on the number of months of participation during any portion of the Performance Period
in which the death or disability occurs.

     (b) If the Participant is terminated other than by reason of death or disability, then except
to the extent specifically provided to the contrary in any other agreement between the Participant
and the Company, no Cash Payment Amount will be paid and this Agreement will be of no further force
or effect unless the performance criteria set forth in the accompanying Award Agreement are
satisfied and the Compensation Committee determines, in its sole discretion, that the Cash Payment
Amount is merited.

     (c) If, at any time after the Vesting Date but before the Payment Date, (i) the Participant’s
relationship with the Company is terminated by the Company for Cause (as defined below) or (ii) the
Participant’s conduct after termination of the employment relationship violates the terms of any
non-competition, non-solicitation or confidentiality provision contained in any employment,
consulting, advisory, proprietary information, non-competition, non-solicitation or other similar
agreement between the Participant and the Company, then, without limiting any other remedy
available to the Company, all right, title and interest in and to the Cash Payment Amount shall be
forfeited and revert to the Company as of the date of such determination and the Company shall be
entitled to recover from the Participant the Cash Payment Amount.

     (d) “Cause,” as determined by the Company (which determination shall be conclusive), means:

6

 

     (1) the Participant’s willful and continued failure to substantially perform his or her
reasonable assigned duties (other than any such failure resulting from incapacity due to
physical or mental illness or, if applicable, any failure after the Participant gives notice
of termination for Good Reason, as defined in an agreement between the Participant and the
Company), which failure is not cured within 30 days after a written demand for substantial
performance is received by the Participant from the Supervisory Board which specifically
identifies the manner in which the Board believes the Participant has not substantially
performed the Participant’s duties; or

     (2) the Participant’s willful engagement in illegal conduct or gross misconduct that is
materially and demonstrably injurious to the Company.

For purposes of this Section 3(d), no act or failure to act by the Participant shall be
considered “willful” unless it is done, or omitted to be done, in bad faith and without
reasonable belief that the Participant’s action or omission was in the best interests of the
Company.

4. Change in Control. Upon a Change in Control, the performance criteria set forth in the
accompanying Award Agreement for the EPS Target and Revenue Target shall be deemed satisfied for
the Performance Period in which the Change in Control occurs, and in lieu of the amounts to be
determined pursuant to the formula under the heading “Calculation of Cash Payment Amount” in the
Award Agreement, the Participant shall be entitled to receive instead a Cash Payment Amount equal
to 100% of the Base Amount, pro-rated through the date of the Change in Control, for the
Performance Period in which the Change in Control occurs, which amount shall be payable as soon as
practicable following the Change in Control, but no later than two and one-half months following
the Change in Control.

5. No Special Employment or Similar Rights. Nothing contained in the Plan or this
Agreement shall be construed or deemed by any person under any circumstances to bind the Company to
continue the employment or other relationship of the Participant with the Company. The Company
expressly reserves the right at any time to dismiss or otherwise terminate its relationship with
the Participant free from any liability or claim under the Plan or this Agreement.

6. Withholding Taxes. The Company’s obligation to pay the Cash Payment Amount shall be
subject to the Participant’s satisfaction of all applicable income, employment, social charge and
other tax withholding requirements under all applicable rules and regulations.

7. Transferability. This Agreement may not be sold, assigned, transferred, pledged,
hypothecated or otherwise disposed of (whether by operation of law or otherwise) (collectively, a
“transfer”) by the Participant, except that this Agreement may be transferred (i) by the laws of
descent and distribution, (ii) pursuant to a qualified domestic relations order, or (iii) with the
prior consent of the Compensation Committee, to or for the benefit of any immediate family member,
family trust, family partnership or family limited liability company established solely for the
benefit of the Participant and/or an immediate family member of the Participant.

	8.	 	Miscellaneous.

     (a) Except as provided herein, this Agreement may not be amended or otherwise modified unless
evidenced in writing and signed by the Company and the Participant, unless the Compensation
Committee determines that the amendment or modification, taking into account any related action,
would not materially and adversely affect the Participant.

     (b) All notices under this Agreement shall be mailed or delivered by hand to the Company at
its main office, Attn: Secretary, and to the Participant at his or her last known address on the
employment records of the Company or at such other address as may be designated in writing by
either of the parties to one another.

     (c) This Agreement shall be governed by and construed in accordance with the laws of the
Commonwealth of Massachusetts, USA.

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