Document:

Exhibit 10.28

 

Execution Copy

 

Amendment No. 1 to Executive Employment
Agreement

 

WHEREAS, Robert S. Mathews (“Executive”) entered into that certain
Executive Employment Agreement with Von Hoffmann Press, Inc. (now Von Hoffman
Corporation, the “Company”), dated as of January 31, 2002, with an Effective
Date as of January 1, 2002 (the “Original Agreement” and as amended hereby, the
“Agreement”); and

 

WHEREAS, the Company desires to extend the
Employment Period and make certain other modifications to the Original
Agreement in consideration thereof.

 

WHEREAS, the Company is an indirect wholly
owned subsidiary of Jostens IH Corp., a Delaware corporation (“JIHC”).

 

NOW, THEREFORE, in consideration of the mutual undertakings contained
herein and in the Original Agreement and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties hereto
agree as follows:

 

1.                                       Capitalized
terms used herein without definition shall have the meaning ascribed to such
terms in the Agreement.

 

2.                                       All references
to “the Chief Executive of the Company” shall be to “the Chief Executive of
JIHC”, including, without limitation in Section 2.2 of the Agreement. Without
limitation, Section 2.2 (b) is hereby amended to provide that Executive shall
at all times report and be subject to the lawful
direction of the Chief Executive Officer of JIHC and the Board of Directors as
otherwise provided.

 

3.                                       Section 2.3(a)
is hereby amended to read as follows: “During the Employment Period, Executive’s
base salary shall be $300,000 (subject to increase, if any, provided under
Section 2.3(d)) per annum (the “Base Salary”), which salary shall be payable in
regular installments in accordance with the Company’s general payroll practices
and shall be subject to deductions for customary withholding, including,
without limitation, federal and state withholding taxes, social security taxes
and state disability insurance.”

 

The first sentence of Section 2.3(b) is deleted in its entirety and all
references to “Non-Discretionary Bonus” in the Agreement are deleted. In
addition, the balance of Section 2.3(b) is deleted and replaced with the
following:  “During the Employment
Period, Executive shall be eligible to participate in such annual bonus program
in which other senior executives of the Company are generally eligible to
participate, subject to and on such terms and conditions and at such level as
determined by the Board on an annual basis. References to “Total Annual Bonus”
shall be to any such

 

 

bonus payable on the
terms and conditions under such plan referenced in the preceding sentence.”

 

4.                                       Section 2.4(a)
is hereby amended to read as follows: “The Employment Period shall be
automatically extended as of 12:01 on January 1, 2005 (the “Extension Effective
Time”) for rolling one month period(s) on the terms and conditions hereunder
with each one month period commencing on the first day of each successive
calendar month and expiring on the last day of each such calendar month, unless
either party gives written notice of non-renewal to the other party at least 10
days prior to the first day of the next calendar month, in which case the
Employment Period will expire on the last day of the calendar month in which
such notice is given (the initial term together with each monthly extension,
the “Employment Period”). Any such written notice of non-renewal by the Company
shall be deemed a termination by the Company without Cause under Section
2.4(d); any written notice of non-renewal by the Executive shall be deemed a
voluntary resignation under Section 2.4(b).” Section 2.4(a) of the Original
Agreement is amended accordingly and as of the Extension Effective Time
references to the Employment Period shall be to such term as defined in the
preceding sentence.

 

5.                                       The
exception clause in Section 2.4(d) is revised to provide as follows: “except
that Executive shall be entitled to (i) an amount in cash equivalent to
$375,000 (gross) as salary continuation, which shall be payable in fifteen (15)
equal monthly payments of $25,000 (gross) each, less applicable withholding,
and (ii) the Company will allow Executive (and those of his dependents enrolled
at the time of his separation) to continue health and dental care coverage in
accordance with the terms and conditions of the plan(s) applicable to Executive
on the date of separation, as they may be replaced or changed from time to
time, during the period that Executive is receiving salary continuation,
provided that active employee health and dental benefits will cease on the date
Executive otherwise becomes eligible to obtain substantially comparable health
benefits elsewhere (the “Benefits Period”). 
Executive will be responsible for the active employee contribution
amount for such coverage for him and his dependents during the Benefits
Period.  Such continued coverage will be
subject to the terms and conditions of such benefit plans as apply to active
employees generally, including the Company’s right to amend and terminate such
plans.  Following the Benefits Period
Executive and his dependents, to the extent they are enrolled in the plans at
the conclusion of the Benefits Period, will have the right to continued
coverage pursuant to and in accordance with COBRA for the remainder of the
applicable COBRA period (the COBRA period will begin upon the qualifying event
of Executive’s loss of employment with the Company), subject to, among other
things, the payment of premiums.”

 

 

In addition, the last sentence of Section
2.4(d) is revised to read as follows:  “Any
payments to be made pursuant to clause (i) above shall be made in monthly
installments on the payment dates on which Executive’s Base Salary would have
otherwise been paid if the Employment Period had continued, and as of the date
of the final such payment none of the Company, Holding, or any other member of
the Company Group shall have any further obligation to Executive pursuant to
this Section 2.4.”

 

Except as
amended above, Section 2.4(d) remains as written in the Original Agreement.
Section 2.4(e) is hereby amended by replacing the word “payments” with “compensation”
throughout such Section 2.4(e).

 

6.                                       The severance
and other consideration given pursuant to Section 2.4(d) in the case of a
termination without Cause, shall be given in consideration for the execution
and delivery by the Executive of a release in form and substance reasonably
satisfactory to the Company pursuant to which the Executive releases the
Company, the Company Group and each affiliate and agent of the Company Group,
and each stockholder, officer, director and employee thereof, from any and all
claims the Executive may have against any of them by reason of his employment
or termination of such employment.

 

7.                                       References to “Company
Group” shall mean, collectively, Holding, the Company and their respective
Subsidiaries, successors and assigns, excluding for all purposes, including for
purposes of “subsidiary or “Subsidiary”, the Lehigh Direct operations.

 

8.             References to “Holding”
shall be to Von Hoffmann Holdings Inc.

 

9.                                       Section 3.3 of
the Original Agreement is hereby amended to provide that notices to the Company
or Holding shall be sent to:

 

Jostens IH Corp.

1 Byram Brook Place

Armonk, New York 10504

Attention: General Counsel

 

and to Executive:

 

11929 Edwards Place Court

St. Louis, Missouri  63128

 

10.                                 Each party hereby
acknowledges and agrees that except as expressly amended hereby the terms and
conditions of the Original Agreement are ratified and confirmed and remain in full force and effect. This

 

 

amendment
supersedes all prior discussions or writings on the subject matter hereof (the
amendment of the Original Agreement).

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment No.
1 to Executive Employment Agreement as of this 30th day of December,
2004.

 

	
   

  	
  VON HOFFMANN HOLDINGS INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Marie D. Hlavaty

  	
   

  
	
   

  	
   

  
	
   

  	
  VON HOFFMANN CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Marie D. Hlavaty

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Robert S. Mathews

  	
   

  
	
   

  	
  ROBERT S. MATHEWSQuickLinks
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Exhibit 10.1  

        Grant No.:             

  
 

    REGAL ENTERTAINMENT GROUP
  2002 STOCK INCENTIVE PLAN    
    
    RESTRICTED STOCK AGREEMENT    
    

        Regal Entertainment Group, a Delaware corporation (the "Company"), hereby grants its shares of class A common stock, $.001 par value, (the "Common Stock")
to the Grantee named below, subject to the vesting conditions set forth in the attachment. Additional terms and conditions of the grant are set forth in this cover sheet, in the attachment, and in the
Company's 2002 Stock Incentive Plan (the "Plan"). 

Grant
Date:                        , 200            

Name
of Grantee: 

Grantee's
Social Security
Number:            -            -            

Number
of Shares of Common Stock Covered by Grant:            

Purchase
Price per Share of Common Stock: $            .            

        By signing this cover sheet, you agree to all of the terms and conditions described in the attached Agreement and in the Plan, a copy of which is also attached.
You acknowledge that you have carefully reviewed the Plan,
and agree that the Plan will control in the event any provision of this Agreement should appear to be inconsistent.

	Grantee:	 	 	 	 	 	 
	 	 	
 (Signature)	 	 
	

Company:	
 	

 	
 	

 	
 	

 
	 	 	
 (Signature)	 	 
	

 	
 	

Title:	
 	

 	
 	

 
	 	 	 	 	
	 	 

Attachment

This is not a stock certificate or a negotiable instrument.  

 
REGAL ENTERTAINMENT GROUP  

 2002 STOCK INCENTIVE PLAN  

 RESTRICTED STOCK AGREEMENT  

	Restricted Stock/Nontransferability	 	This grant is an award of Common Stock in the number of shares set forth on the cover sheet, at the Purchase Price set forth on the cover sheet, and subject to the vesting conditions described below ("Restricted Stock").
The Purchase Price for the Restricted Stock is deemed paid by your services to the Company. To the extent not yet vested, your Restricted Stock may not be transferred, assigned, pledged or hypothecated, whether by operation of law or otherwise, nor
may the Restricted Stock be made subject to execution, attachment or similar process.
	

Issuance and Vesting	
 	

The Company will issue your Restricted Stock in your name as of the Grant Date.
	

 	
 	

Except as otherwise set forth below, your right to the Common Stock under this Restricted Stock grant vests as to 100% of the total number of shares covered by this grant, as shown on the cover sheet, on the fourth anniversary of the Grant Date,
provided you then continue in service (the "Vesting Date"). If the Vesting Date would otherwise occur during a period in which you are: (a) subject to a lock-up agreement restricting your ability to sell shares of Stock in the open market or
(b) restricted from selling shares of Stock in the open market because you are not then eligible to sell under the Company's insider trading or similar plan as then in effect (whether because a trading window is not open or you are otherwise
restricted from trading), the Vesting Date will be delayed until the first date on which you are no longer prohibited from selling shares of Stock due to a lock-up agreement or insider trading plan restriction; provided, however, you shall not be
deemed to be restricted pursuant to subparagraph (b) above if you have established a valid and enforceable 10b5-1 trading plan with respect to the Common Stock covered by this grant that is in effect as of the Vesting Date. You cannot vest in
more than the number of shares covered by this grant. No shares will vest after your service has terminated for any reason.
	

Termination on Death, Disability or Retirement	
 	

Your right to the Common Stock under this Restricted Stock grant vests as to 100% of the total number of shares covered by this grant, as shown on the cover sheet, if you terminate your service due to death, Disability or Retirement.
	

Termination without Cause	
 	

If the Company terminates your service without Cause prior to your Vesting Date, your right to the Common Stock under this Restricted Stock grant vests as to one-fourth (1/4) of the total number of Shares covered by this
grant, as shown on the cover sheet, for each of the anniversaries of the Grant Date that you remained in service prior to the Company's termination of your service without Cause.
	 	 	 

2

 

	

Forfeiture of Unvested Common Stock	
 	

In the event that your service terminates for any reason other than due to death, Disability or Retirement or by the Company without Cause, you will forfeit to the Company all of the shares of Common Stock subject to this grant that have not yet
vested.
	

Book Entry Restrictions/Escrow	
 	

The Restricted Stock may be issued in book entry form. If so, the Company shall cause the transfer agent for the shares of Common Stock to make a book entry record showing ownership for the shares of Restricted Stock in your name subject to the terms
and conditions of this Agreement. You shall be issued an account statement acknowledging your ownership of the shares of Restricted Stock.
	

 	
 	

If certificates are issued evidencing the shares of Restricted Stock, the certificates for the Restricted Stock shall be deposited in escrow with the Secretary of the Company to be held in accordance with the provisions of this paragraph. Each
deposited certificate shall be accompanied by a duly executed Assignment Separate from Certificate in the form attached hereto as Exhibit A. The deposited certificates shall remain in escrow until
such time or times as the certificates are to be released or otherwise surrendered for cancellation as discussed below. Upon delivery of the certificates to the Company, you shall be issued an instrument of deposit acknowledging the number of shares
of Stock delivered in escrow to the Secretary of the Company.
	

 	
 	

As your interest in the shares vests, as described above, the certificates for such vested shares shall be released from escrow and delivered to you, at your request, within 30 days of their vesting.
	

Withholding Taxes	
 	

In the event that the Company determines that any federal, state, local or foreign tax or withholding payment is required relating to the vesting of shares arising from this grant, the Company shall have the right to require such payments from you,
or withhold such amounts from other payments due to you from the Company or any affiliate.
	

Section 83(b) Election	
 	

If you file an election with respect to the shares of Common Stock covered by this grant under Section 83(b) of the Internal Revenue Code with the Internal Revenue Service, you will immediately forfeit to the Company all of the shares of
Common Stock subject to this grant.
	

Retention Rights	
 	

This Agreement does not give you the right to be retained by the Company (or any parent, Subsidiaries or affiliates) in any capacity. The Company (and any parent, Subsidiaries or affiliates) reserves the right to terminate your service at any time
and for any reason.
	 	 	 

3

 

	

Shareholder Rights	
 	

You have the right to vote the Restricted Stock and to receive any dividends declared or paid on such stock. Any distributions you receive as a result of any stock split, stock dividend, combination of shares or other similar transaction shall be
deemed to be a part of the Restricted Stock and subject to the same conditions and restrictions applicable thereto. Except as described in the Plan, no adjustments are made for dividends or other rights if the applicable record date occurs before
your stock certificate is issued.
	

Adjustments	
 	

In the event of any stock dividend, stock split or other change in the corporate structure affecting the Common Stock, the number or kind of shares covered by this grant may be adjusted pursuant to the Plan. Your Restricted Stock shall be subject to
the terms of the agreement of merger, liquidation or reorganization in the event the Company is subject to such corporate activity.
	

Legends	
 	

All certificates representing the Common Stock issued in connection with this grant shall, where applicable, have endorsed thereon the following legends:
	

 	
 	

"THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER, OR HIS OR HER PREDECESSOR IN INTEREST. A COPY OF SUCH AGREEMENT IS ON FILE AT THE
PRINCIPAL OFFICE OF THE COMPANY AND WILL BE FURNISHED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY BY THE HOLDER OF RECORD OF THE SHARES REPRESENTED BY THIS CERTIFICATE."
	

Applicable Law	
 	

This Agreement will be interpreted and enforced under the laws of the State of Delaware, other than any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Agreement to the substantive law of
another jurisdiction.
	

Market Stand-Off	
 	

In connection with any underwritten public offering by the Company (the "Registrant") of the Registrant's securities pursuant to an effective registration statement filed under the Securities Act of 1933 for such period as the underwriters may
request (such period not to exceed 180 days following the date of the applicable offering), you shall not, directly or indirectly, sell, make any short sale of, loan, hypothecate, pledge, offer, grant or sell any option or other contract for the
purchase of, purchase any option or other contract for the sale of, loan, hypothecate, pledge, offer, grant or dispose of or transfer, or agree to engage in any of the foregoing transactions with respect to, any shares of capital stock of the Company
covered by this grant without the prior written consent of the underwriters of such public offering.
	

The Plan	
 	

The text of the Plan is incorporated in this Agreement by reference. Certain capitalized terms used in this Agreement are defined in the Plan, and have the meaning set forth in the Plan.
	 	 	 

4

 

	

 	
 	

This Agreement and the Plan constitute the entire understanding between you and the Company regarding this grant of Restricted Stock. Any prior agreements, commitments or negotiations concerning this grant are superseded.
	

Data Privacy	
 	

In order to administer the Plan, the Company may process personal data about you. Such data includes, but is not limited to, the information provided in this Agreement and any changes thereto, other appropriate personal and financial data about you
such as home address and business addresses and other contact information, payroll information and any other information that might be deemed appropriate by the Company to facilitate the administration of the Plan.
	

 	
 	

By accepting this grant, you give explicit consent to the Company to process any such personal data. You also give explicit consent to the Company to transfer any such personal data outside the country in which you work or are employed, including,
with respect to non-U.S. resident Grantees, to the United States, to transferees who shall include the Company and other persons who are designated by the Company to administer the Plan.
	

Consent to Electronic Delivery	
 	

The Company may choose to deliver certain statutory materials relating to the Plan in electronic form. By accepting this grant, you agree that the Company may deliver the Plan prospectus and the Company's annual report to you in an electronic format.
If at any time you would prefer to receive paper copies of these documents, as you are entitled to, the Company would be pleased to provide copies. Please
contact            at            to request paper copies of these documents.
	

Stock Ownership Guidelines	
 	

Your right to sell, exchange, transfer, gift, pledge, alienate or otherwise dispose of the vested shares of Common Stock awarded to you pursuant to this Agreement is subject to your compliance with the stock ownership guidelines ("Stock Ownership
Guidelines") that the Company has adopted as of the Grant Date. A copy of the Stock Ownership Guidelines has been delivered to you together with this Agreement. The Company shall have the right to enforce the Stock Ownership Guidelines through the
use of an escrow arrangement or through restrictions communicated to the Company's transfer agent limiting transfers of your shares of Common Stock. This provision is not intended to prohibit you from exercising your previously granted stock options
or disposing of the shares of Common Stock acquired upon exercise of such options.

        By
signing the cover sheet of this Agreement, you agree to all of the terms and conditions described above and in the Plan. 

5

 
EXHIBIT A  

 ASSIGNMENT SEPARATE FROM CERTIFICATE  

        FOR VALUE RECEIVED,                        sells, assigns and
transfers to Regal Entertainment Group, a Delaware corporation (the "Company"),                        
(                        ) shares of the Company's class A common stock represented by Certificate
No.     and does hereby irrevocably constitute and appoint                        to
transfer the said common stock on the books of the Company with full power of substitution in the premises. 

        Dated:                        ,
200            

	 	 	
 Print Name
	

 	
 	

 Signature

Spouse Consent (if applicable)  

                                (Purchaser's spouse) indicates by the
execution of this Assignment his or her consent to be bound by the terms herein as to his or her interests,
whether as community property or otherwise, if any, in the shares of class A common stock of the Company. 

	 	 	
 Signature

INSTRUCTIONS: PLEASE DO NOT FILL IN ANY BLANKS OTHER THAN THE SIGNATURE LINE. THE PURPOSE OF THIS ASSIGNMENT IS TO ENABLE THE COMPANY TO CAUSE THE FORFEITURE OF YOUR UNVESTED
SHARES AS SET FORTH IN THE AGREEMENT WITHOUT REQUIRING ADDITIONAL SIGNATURES ON THE PART OF PURCHASER.

6

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REGAL ENTERTAINMENT GROUP 2002 STOCK INCENTIVE PLAN RESTRICTED STOCK AGREEMENT

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