Document:

Amendment to Employment Agreement, effective January 1, 2009 (John W. Beeder)

 Exhibit 10(x1ix) 
 AMENDMENT TO EMPLOYMENT AGREEMENT 
 JOHN BEEDER 
 Amendment to comply with Code Section 409A 
 December 22, 2008 
     THIS AMENDMENT (the “Amendment”) to the
Executive Employment Agreement (the “Agreement”) between American Greetings Corporation (the “Corporation”) and John Beeder (the “Executive”) is effective as of January 1, 2009. 
     WHEREAS, the Corporation and the Executive (the “Parties”) previously entered into the Agreement, dated June 12,
2008, setting forth the terms and conditions of the Executive’s employment with the Corporation; and 
     WHEREAS,
the Parties desire to amend the Agreement to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations and rulings promulgated thereunder. 
     NOW, THEREFORE, the Parties, intending to be legally bound, hereby agree as follows: 
     1.  Effective as of January 1, 2009, a new Section 24 shall be added to the Agreement to read as follows:

 “24.      Compliance with Code Section 409A.  Notwithstanding the other provisions of the
Agreement entered into with the Corporation, all provisions of the Agreement shall be construed and interpreted to comply with Code Section 409A and the regulations and rulings promulgated thereunder and, if necessary, any provision shall be
held null and void to the extent such provision (or part thereof) fails to comply with Section 409A or regulations thereunder. 
     24.1.    Definitions.  The terms used in the Agreement shall have the following meaning: 
    (i)        “Separation from Service” shall have the meaning set forth in Treasury Regulations Section 1.409A-1(h). 
    (ii)        “Specified Employee” shall have the meaning set forth in Treasury
Regulations Section 1.409A-1(i). 
     24.2.    Bonus.  Any bonus or
incentive compensation earned and payable to Executive under the Agreement shall be paid no later than 2 1/2 months following the
close of the Corporation’s fiscal year to which the bonus relates, or 2 1/2 months following the close of the calendar year
in which such fiscal year ends, if later. 
     24.3.    Delay of Payment for
Specified Employees.  Notwithstanding any provision of the Agreement to the contrary, in the event the Executive is a Specified Employee 

 
as of the date of such Executive’s Separation from Service, any amounts that are subject to Code Section 409A that become payable upon the
Executive’s Separation from Service shall be held for delayed payment and shall be distributed on or immediately after the date which is six months after the date of the Executive’s Separation from Service. The first payment made to the
Executive following the six-month delay shall be equal to the first six monthly installment payments that would have commenced immediately following the Executive’s Separation from Service if the Executive had not been subject to the required
six-month delay. The delayed payments shall not be adjusted for interest. 
     24.4.    Separation from Service.  Payments under the Agreement that provide for payment upon the Executive’s termination of employment (or similarly used term) shall be
amended to provide that no such payment shall be permitted unless such termination qualifies as a Separation from Service. 
     For purposes of the limitations on nonqualified deferred compensation under Section 409A, each payment of compensation under the Agreement shall be treated as a separate payment of compensation for purposes of
applying the Code Section 409A deferral election rules and the exclusion from Code Section 409A for certain short-term deferral amounts. Any amounts payable under the Agreement solely on account of an involuntary separation from service
within the meaning of Code Section 409A shall be excludible from the requirements of Code Section 409A, either as involuntary separation pay or as short-term deferral amounts (e.g., amounts payable under the schedule prior to
March 15 of the calendar year following the calendar year of involuntary separation) to the maximum extent possible. 
     Payments made upon a Separation from Service shall be paid in equal installments over the severance period set forth in the Agreement in accordance with the Corporation’s normal payroll practices. 
     In the event that the Executive desires to initiate a Separation from Service due to “Good Reason” (“Good Reason
Resignation”) in accordance with Section 4.5.c. of the Agreement, such Separation from Service shall only constitute a Good Reason Resignation if the Executive provides written notice to the Corporation specifying in reasonable detail the
events or conditions upon which the Executive is basing such Good Reason Resignation and the Executive provides such written notice within 90 days of the event that gives rise to the Good Reason Resignation. Within 30 days after notice has been
received, the Corporation shall have the opportunity, but shall have no obligation, to cure such events or conditions that give rise to the Good Reason Resignation. If the Corporation does not cure such events or conditions within the 30-day period,
the Executive must terminate employment within 30 days following the end of the cure period in order to have a Good Reason Resignation and, if the Executive timely terminates employment, payment will commence in accordance with Section 4.5.c
based on the Good Reason Resignation. 
     24.5    In-Kind Benefits.  Any
reimbursements or in-kind benefits shall be made or provided in accordance with the requirements of Code Section 409A, including, where applicable, the requirement that: (i) any reimbursement is for expenses incurred during the period of
time specified in accordance with the Agreement, (ii) the amount of expenses eligible for 

  

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reimbursement, or in-kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in-kind benefits to be
provided, in any other calendar year, (iii) the reimbursement of an eligible expense will be made no later than the last day of the calendar year following the year in which the expense is incurred, and (iv) the right to reimbursement or
in-kind benefits is not subject to liquidation or exchange for another benefit. 
     24.6    Amendment of Inconsistent Provisions.  To the extent that any provision of the Agreement is inconsistent with the requirements of Code Section 409A and the
regulations and rulings promulgated thereunder, the Agreement is hereby amended to delete such inconsistent provisions.” 
 2.        This Amendment may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
 3.        Except as otherwise provided herein, the Agreement shall be unaffected by this Amendment. 

 

	
	AMERICAN GREETINGS CORPORATION
	
	/s/Brian
McGrath                                        
      
	By: Brian McGrath
	Title: Senior Vice President, Human Resources
	Date:  12-19-08
	
	/s/John
Beeder                                        
           
	John Beeder
	Date:  12-22-08

  

 3Split-Dollar Agreement, dated May 7, 2001

 Exhibit 10(1xiii) 
 SPLIT-DOLLAR AGREEMENT 
 THIS AGREEMENT
made and entered into as of the 7th day of May, 2001, by and between American Greetings Corporation, an Ohio corporation, with principal offices and
place of business in the State of Ohio (the “Corporation”), and the Morry Weiss and Judith S. Weiss 2001 Irrevocable Insurance Trust, dated March 1, 2001, Gary Weiss, Jeffrey Weiss, Zev Weiss and Elie Weiss co-trustees (the
“Owner”). 
 WITNESSETH: 
 WHEREAS, the Owner wishes to provide life insurance protection in the event of the death of Morry Weiss and Judith Weiss (the “Insureds”), under a policy of life insurance insuring the lives of the Insureds
(the “Policy”), which is described in Exhibit A attached hereto and by this reference made part hereof, and which was issued by Security Life of Denver (the “Insurer”); and 
 WHEREAS, Morry Weiss (the “Insured Employee”) is the Chairman and Chief Executive Officer of the Corporation; and 
 WHEREAS, the Corporation desires to pay a portion of the premiums due on the Policy as an additional employment benefit for the Insured Employee, on the
terms and conditions hereinafter set forth; and 
 WHEREAS, the Owner of the Policy possesses all incidents of ownership in and to the
Policy; and 
 WHEREAS, the Corporation wishes to have the Policy collaterally assigned to it by the Owner, in order to secure the repayment
of the amounts that it will pay toward the premiums on the Policy. 
 NOW, THEREFORE, in consideration of the premises and of the mutual
promises contained herein, the parties hereto agree as follows: 
 1. Purchase of Policy. The Owner has purchased the Policy from the Insurer in the
total initial face amount of $30,000,000. The parties hereto have taken all necessary actions to cause the Insurer to issue the Policy, and shall take any further actions that may be necessary to cause the Policy to conform to the provisions of this
Agreement. The parties hereto agree that the Policy shall be subject to the terms and conditions of this Agreement and of the collateral assignment filed with the Insurer pursuant to Section 4 hereof. 
 2. Ownership of Policy. The Owner shall be the sole and absolute Owner of the Policy, and may exercise all ownership rights granted to the Owner thereof by the
terms of the Policy, except as may otherwise be provided herein. 
 3. Payment of Premiums. 
 a. Thirty (30) days prior to the due date of each Policy premium, the Owner shall pay to the Corporation an amount equal to the Insured
Employee’s imputed income related to the value of the death benefits provided for under the Policy. The amount of such contributions 
  

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 shall be confirmed annually by the Insurer. The Owner shall pay such required contribution to the Corporation prior to
the premium due date. If the Owner fails to make such timely payment, the Corporation, in its sole discretion, may elect to make the Owner’s premium payment, which payment shall be recovered by the Corporation as provided herein. 
 b. On or before the due date of each Policy premium, or within the grace period provided therein, the Corporation shall pay the full amount of the
premium to the Insurer, and shall, upon request, promptly furnish the Insured Employee evidence of timely payment of such premium. The Corporation shall annually furnish the Insured Employee a statement of the amount of income reportable by the
Insured Employee for federal and state income tax purposes, if any, as a result of the insurance protection provided under the Policy or for any other reason with respect to the Policy. 
 4. Collateral Assignment. To secure the repayment to the Corporation of the amount of the premiums on the Policy paid by it hereunder, the Owner shall assign the Policy to the Corporation as collateral, under
the form used by the Insurer for such assignments. The collateral assignment of the Policy to the Corporation hereunder shall not be terminated, altered or amended by the Owner, without the express written consent of the Corporation. The parties
hereto agree to take all action necessary to cause such collateral assignment to conform to the provisions of this Agreement. 
 5. Rights of
Corporation. 
 a. The Corporation shall have an interest in the Policy equal to the amount of the cash value of the Policy in proportion
to the premiums the Corporation has paid under Section 3 hereof. 
 b. The Corporation may pledge or assign its interest in the Policy,
subject to the terms and conditions of this Agreement, for the sole purpose of securing a loan from the Insurer or from a third party. The amount of such loan, including accumulated interest thereon, shall not exceed the lesser of (i) the
amount of the premiums on the Policy paid by the Corporation hereunder or (ii) the cash surrender value of the Policy as of the date of the loan. Interest charges on such loan shall be paid by the Corporation. If the Corporation so encumbers
the Policy, other than by a policy loan from the Insurer, then, upon the death of the Insureds or upon termination of this Agreement, the Corporation shall promptly take all action necessary to secure the release or discharge of such encumbrance.

 c. The Owner shall name the Corporation as a beneficiary under the Policy to the extent of the Corporation’s interest in the Policy
described in this Section. 
 6. Limitations on Owner’s Rights in Policy. 
 a. Except as otherwise provided herein, the Owner shall not sell, assign, transfer, borrow against, surrender or cancel the Policy, nor change the
beneficiary designation provision thereof, without, in any such case, the express written consent of the Corporation. 
 b. Notwithstanding
any provision hereof to the contrary, the Owner shall have the right to absolutely and irrevocably give to a donee (including another trust) all of its right, title and interest in and to the Policy, subject to the collateral assignment of the
Policy to the Corporation pursuant hereto. The Owner may exercise this right by executing a written transfer 
  

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 of ownership in the form used by the Insurer for irrevocable gifts of insurance policies, and delivering this form to the
Corporation. Upon receipt of such form, executed by the Owner and duly accepted by the donee thereof, the Corporation shall consent thereto in writing, and shall thereafter treat the Owner’s donee as the sole owner of all such Owner’s
right, title and interest in and to the Policy, subject to this Agreement and the collateral assignment of the Policy, all such rights being vested in and exercisable only by such donee. 
 7. Collection of Death Proceeds. 
 a. Upon the second to die of the Insureds, the Corporation shall
cooperate with the Owner to take whatever action is necessary to collect the death benefit provided under the Policy; when such benefit has been collected and paid as provided herein, this Agreement shall thereupon terminate. 
 b. Upon the second to die of the Insureds, the Corporation shall have the unqualified right to receive a portion of such death benefit equal to the
amount of the premiums paid by it hereunder. The balance of the death benefit provided under the Policy, if any, shall be paid directly to the other beneficiary or beneficiaries designated by the Owner, in the manner and in the amount or amounts
provided in the beneficiary designation provision of the Policy. 
 In no event shall the amount payable to the Corporation hereunder exceed
the Policy proceeds payable at the death of the Insureds. No amount shall be paid from such death benefit to the other beneficiary or beneficiaries designated by the Owner until the full amount due the Corporation hereunder has been paid. The
parties hereto agree that the beneficiary designation provision of the Policy shall conform to the provisions hereof. 
 c. Notwithstanding
any provision hereof to the contrary, in the event that, for any reason whatsoever, no death benefit is payable under the Policy upon the death of the Insureds and in lieu thereof the Insurer refunds all or any part of the premiums paid for the
Policy, the Corporation and the Owner or its donee shall have the unqualified right to share such premiums based on the relative proportion of the respective cumulative premiums paid by the Corporation and by the Owner. 
 8. Termination of Agreement. 
 a. This Agreement
shall terminate upon the occurrence of the earliest of the following events: (i) total cessation of the Corporation’s business; (ii) bankruptcy, receivership or dissolution of the Corporation; or (iii) death of the second
insured. 
 b. In addition, the Owner, by written notice to the Corporation signed by the Owner, may terminate this Agreement by written
notice to the Corporation. Such termination shall be effective as of the date of such notice. 
 9. Disposition of the Policy on Termination of the
Agreement During the Insured Employee’s Lifetime. 
 a. For sixty (60) days after the date of termination of this Agreement
pursuant to Sections 8.a. (i) and (ii), above, the Owner shall have the option of obtaining the release of the collateral assignment of the Policy to the Corporation. To obtain such release, the Owner shall repay to the Corporation the total
amount of the premium payments made by the Corporation 
  

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 hereunder or, if less, the then total cash surrender value of the Policy. Upon receipt of such amount, the Corporation
shall release the collateral assignment of the Policy, by the execution and delivery of an appropriate instrument of release. 
 b. If the
Owner fails to exercise such option within such 60-day period, then, at the request of the Corporation, the Owner shall execute any document or documents required by the Insurer to transfer the interest of the Owner in the Policy to the Corporation.
Thereafter, neither the Owner nor its successors and assigns shall have any further interest in and to the Policy, either under the terms thereof or under this Agreement. Alternatively, the Corporation may enforce its right to be repaid the amount
of the premiums on the Policy paid by it from the cash surrender value of the Policy under the collateral assignment of the Policy; provided that in the event the cash surrender value of the Policy exceeds the amount due the corporation, such excess
shall be paid to the Owner. 
 10. Insurer Not a Party. 
 a. The Corporation is hereby designated as the administrator under this Agreement. The Administrator shall have the authority to control and manage the operation and administration of this Agreement, shall have the
sole and absolute discretion to interpret the provisions of this Agreement (including, without limitation, by supplying omissions from, correcting deficiencies in, or resolving inconsistencies or ambiguities in, the language of this Agreement) and
shall make any determinations and findings with respect to the rights of the parties hereunder as may be required for the purposes of this Agreement. 
 b. (1) Claim. 
 A person who believes that he or she is being denied a benefit to which he
or she is entitled under this Agreement (a “Claimant”) may file a written request for such benefit with the Corporation, setting forth his or her claim. The request may be addressed to the Secretary of the Corporation or the Senior Vice
President, Human Resources, of the Corporation at its then principal place of business. 
 (2) Claim Decision. 
 Upon receipt of a claim, the Compensation Committee of the Corporation shall provide the Claimant with a written determination within
ninety (90) days. The Compensation Committee may, however, extend the reply period for an additional ninety (90) days for reasonable cause. 
 If the claim is denied in whole or in part, the Compensation Committee shall provide a written determination setting forth: (a) the specific reason or reasons for such denial; (b) the specific reference to
pertinent provisions of this Agreement on which such denial is based; (c) a description of any additional material or information necessary for the Claimant to perfect his or her claim and an explanation why such material or such information is
necessary; (d) appropriate information as to the steps to be taken if the Claimant wishes to submit the claim for review; and (e) the time limits for requesting a review under subsection (3) and for review under subsection
(4) hereof. 
  

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 (3) Request for Review. 
 Within sixty (60) days after the receipt by the Claimant of the written determination described above, the Claimant may request in
writing that the Board of Directors of the Corporation review the determination of the Compensation Committee. Such request must be addressed to the Secretary of the Corporation or the Senior Vice President, Human Resources, of the Corporation, at
its then principal place of business. The Claimant or his or her duly authorized representative may, but need not, review the pertinent documents and submit issues and comments in writing for consideration by such Board. If the Claimant does not
request a review of the Compensation Committee’s determination within such 60-day period, the Claimant shall be barred and estopped from challenging such determination. 
 (4) Review of Decision. 
 Within sixty (60) days after receipt of a request for review by the Secretary of the Corporation or the Senior Vice President, Human Resources, of the Corporation, the Board will review the Compensation
Committee’s determination. After considering all materials presented by the Claimant, the Board will provide a written determination setting forth the specific reasons for the decision and containing specific references to the pertinent
provisions of this Agreement on which the decision is based. If special circumstances require that the 60-day period be extended, the Board will so notify the Claimant and will render the decision as soon as possible, but no later than one hundred
and twenty (120) days after receipt of the request for review. 
 11. Amendment. This Agreement may not be amended, altered or modified, except
by a written instrument signed by the parties hereto, or their respective successors or assigns, and may not be otherwise terminated except as provided herein. 
 12. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Corporation and its successors and assigns, and the Owner and its successors and assigns. 
 13. Notices. Any notice, consent or demand required or permitted to be given under the provisions of this Agreement shall be in writing, and shall be signed by
the party giving or making the same. If such notice, consent or demand is mailed to a party hereto, it shall be sent by United States certified mail, postage prepaid, addressed to such party’s last known address as shown on the records of the
Corporation. The date of such mailing shall be deemed the date of notice, consent or demand; provided, however, that all such notices shall be effective only upon receipt. 
 14. Governing Law. This Agreement, and the rights of the parties hereunder, shall be governed by and construed in accordance with the laws of the State of Ohio. 
  

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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement, in counterparts, as of the day and year first above
written. 
  

							
		 		 	 MORRY WEISS AND JUDITH S. WEISS 2001
     IRREVOCABLE INSURANCE TRUST

				
		 		 	By:	 	/s/ Gary Weiss
		 		 		 	Gary Weiss, Trustee
				
		 		 	By:	 	/s/ Jeffrey Weiss
		 		 		 	Jeffrey Weiss, Trustee
				
		 		 	By:	 	/s/ Zev Weiss
		 		 		 	Zev Weiss, Trustee
				
		 		 	By:	 	/s/ Elie Weiss
		 		 		 	Elie Weiss, Trustee
			
	          ATTEST:	 		 	AMERICAN GREETINGS CORPORATION
				
	/s/ Mary Kay Incandela	 		 	By:	 	/s/ Jon Groetzinger, Jr.
				
		 		 	Title:	 	Secretary

  

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 EXHIBIT A 
 The following life insurance policy is subject to the attached Split-Dollar Agreement. 
  

			
	 Insurer
	  	Security Life of Denver
		
	 Insured
	  	Morry Weiss and Judith Weiss
		
	 Policy Number
	  	610025927
		
	 Face Amount
	  	$30,000,000
		
	 Date of Issue
	  	May 7, 2001

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