Document:

Second Amended and Restated Employment Agreement dated as of August 9, 2012

 Exhibit 10.1 
 SECOND AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 Timothy M. Larson

 This SECOND AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the “Agreement”) is dated as of August 9,
2012 (the “Effective Date”) by and between Jostens, Inc. (the “Company”), a wholly owned subsidiary of Visant Corporation (“Visant”) and Timothy M. Larson (the “Executive”), and
amends and restates the Amended and Restated Employment Agreement entered into as of October 7, 2011. 
 WHEREAS, the
Company has been employing Executive and desires to continue to employ Executive, and Executive has been and desires to continue to be employed by the Company, in each case on the terms and conditions of this Agreement. 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein and for other good and valuable consideration, the parties
agree as follows: 
 1. Term of Employment. Subject to the provisions of Section 7 of this Agreement, Executive
shall be employed by the Company for a period commencing on the Effective Date and ending on December 31, 2015 (the “Initial Term”), on the terms and subject to the conditions set forth in this Agreement.
Following the Initial Term, the term of Executive’s employment hereunder shall automatically be renewed on the terms and conditions hereunder for additional one-year periods commencing on each anniversary of the last day of the Initial Term
(the Initial Term and any annual extensions of the term of this Agreement, subject to the provisions of Section 7 hereof, together, the “Employment Term”), unless either party gives written notice of non-renewal at least sixty
(60) days prior to such anniversary. 
 2. Position. 

a. During the Employment Term, Executive shall serve as the President and Chief Executive Officer of the Company. In such position,
Executive shall have such duties and authority as determined by the Chief Executive Officer of Visant or the Board of Directors of Visant (the “Board”) and commensurate with the position of president of a company of similar size,
structure and nature to that of the Company. During the Employment Term, the Executive shall report to the Chief Executive Officer of Visant or, as he or the Board shall designate from time to time, such equivalent executive or the Board.

 b. During the Employment Term, Executive will devote Executive’s full business time and reasonable best efforts to the
performance of Executive’s duties hereunder and will not engage in any other business, profession or occupation for compensation or otherwise which would conflict or interfere in any material respect with the rendition of such services either
directly or indirectly, without the prior written consent of the Board; provided that nothing herein shall preclude Executive, subject to the prior approval of the Board, from accepting appointment to or continue to serve on any board of
directors or trustees of any business corporation or any charitable organization; provided, further, in each case in the aggregate, that such activities do not conflict or interfere with the performance of Executive’s
duties hereunder or conflict with Section 8. 

  
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 3. Base Salary. During the Employment Term, the Company shall pay Executive a base
salary at the annual rate of $700,000 through December 31, 2012 and at the annual rate of $750,000 thereafter. The base salary shall be payable in substantially equal periodic payments in accordance with the Company’s practices for other
executive employees, as such practices may be determined from time to time. Executive shall be entitled to such increases in Executive’s base salary, if any, as may be determined from time to time in the sole discretion of the Board, which
shall at least annually beginning in January 2014 review Executive’s rate of base salary to determine if any such increase shall be made. Executive’s annual base salary, as in effect from time to time hereunder, is hereinafter referred to
as the “Base Salary.” 
 4. Annual Bonus. During the Employment Term, Executive shall be eligible to
earn an annual bonus award between 0% and up to 127% of Executive’s Base Salary in respect of each fiscal year of the Company (an “Annual Bonus”), with a target amount equal to 100% of Executive’s Base Salary (the
“Target Bonus”) (with a maximum opportunity equal to 127% of Executive’s Base Salary (increasing in linear progression for performance above 100% and up to 150% of the performance targets) based upon achievement of certain
“stretch” targets to be established by the Board annually in consultation with the Executive), payable upon the Company’s achievement of certain performance targets (of which no less than 67% shall be weighted based on EBITDA (as such
term is defined in that certain Stock Option Agreement dated March 17, 2005 (covering Executive’s stock options that vest based on Company performance) (the “Option Agreement”)) for each fiscal year of the Company (each, a
“Fiscal Year”), with the balance of such performance targets to be based on other metrics established by the Board from year to year. The Annual Bonus shall be payable under the Company’s management incentive compensation plan,
or any successor thereto (the “Incentive Plan”), on such terms and at such time(s) as annual bonuses are otherwise payable thereunder. 
 5. Employee Benefits; Business Expenses. 
 a. Employee Benefits.
During the Employment Term, Executive and his dependents shall be entitled to participate in the Company’s welfare benefit plans, fringe benefit plans and qualified and nonqualified retirement plans (the “Company Plans”) as in
effect from time to time as determined by the Board (collectively, the “Employee Benefits”), on the same basis as those benefits are made available to the other senior executives of the Company, in accordance with the Company’s
policies as in effect from time to time, including the senior executive medical allowance and physical exam program on the same terms as offered to other senior executives of the Company from time to time. In addition, Executive shall continue to be
entitled to benefits under Executive’s Executive Supplemental Retirement Agreement dated March 25, 2004 (as amended and restated by agreement dated December 10, 2008), subject to and in accordance with its terms as in effect from time
to time and on the same basis made available to other senior executives of the Company from time to time. 

  
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 b. Perquisites. During the Employment Term, Executive shall be entitled to receive
such perquisites as are made available to other senior executives of the Company in accordance with the Company’s policies as in effect from time to time as determined by the Board; provided that Executive shall be entitled to
(i) not less than four weeks of paid vacation per annum, which shall be subject to the Company’s vacation policy applicable to the other senior executives of the Company and in accordance with the Company’s policies as in effect from
time to time, (ii) reimbursement for financial counseling services (including financial planning, tax preparation, estate planning, and tax and investment planning software) in an amount not to exceed $1,500 annually, and (iii) a monthly
car allowance of $1,800. 
 c. Business Expenses. During the Employment Term, reasonable business expenses incurred by
Executive in the performance of Executive’s duties hereunder shall be reimbursed by the Company in accordance with the Company’s policies applicable to senior executive officers of the Company. 

6. Long Term Incentive Award; Equity Participation. 
 a. Annual Long Term Incentive Program; 2012 Long Term Incentive Program. During the Employment Term, Executive will be entitled to participate in annual long-term incentive programs placed into
effect for senior management of the Company to promote the long-term financial interests and strategic growth of the Company and its stockholders and to retain and motivate senior management. The award and vesting targets and other terms, conditions
and restrictions will be as established on an annual basis by the Board (or appropriate committee thereof). For 2012, Executive shall be eligible to participate in the 2012 Long Term Incentive Program (the “2012 LTI”) under which
Executive shall receive an award of 21,830 phantom shares based on the Class A Common Stock (the “stock”) of Visant Holding Corp. (“VHC”), which shall be subject to vesting and payment pursuant to the terms,
conditions and restrictions of the 2012 LTI as more fully set forth in the award letter to be presented thereunder. For the ensuing 2013 and 2014 annual periods during the Employment Term, the grant date value of the annual award is anticipated to
be on a basis substantially consistent with the grant date value of the award to Executive under the 2012 LTI. 
 b. Stock
Options. Executive shall receive a one-time grant of 40,000 stock options (the “Stock Options”) on the stock with an exercise price of $96.20 per share, which shall vest in equal parts on each of December 31, 2013, 2014 and
2015 subject to Executive’s continued employment with the Company, and which shall be subject to such other terms, conditions and restrictions as more fully set forth in the respective stock option agreement previously presented to Executive
hereunder and the management stockholder’s agreement and sale participation agreement (such agreements together with the 2012 LTI, the “New Equity Documents”), which shall govern Executive’s holding, vesting and
disposition of the Stock Options, and the Plan (as defined in Section 7(a)(ii)). 
 7. Termination. Executive’s
employment hereunder may be terminated based on the terms and conditions of this Section and as described in subsections 7(a), 7(b), 7(c) and 7(f), as the case may be; provided that Executive will be required to give the Company at least 180
days advance written notice of any resignation of Executive’s employment (other than due to Executive’s death or Disability) or such longer period provided under Section 7(f) hereof. In the event that the Company terminates
Executive’s employment in accordance with the foregoing sentence the Company may, in its sole discretion, prohibit Executive from entering the premises 

  
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of the Company for all or any portion of the period after giving him notice of such termination. Notwithstanding any other provision of this Agreement, the provisions of this Section 7 shall
exclusively govern Executive’s rights upon termination of employment with the Company; provided, however, that nothing contained in this Section 7 shall diminish Executive’s rights with respect to the Equity Documents (as such
term is defined in Section 11(i) of this Agreement) or the New Equity Documents, which shall govern the respective equity holdings of Executive in VHC on the terms and conditions thereunder and, as applicable, following any termination in
accordance therewith, subject, in the case of stock and stock-based awards held by Executive prior to the date of this Agreement, to the terms of Section 7(c)(iii) and the Equity Documents. 

a. By the Company For Cause or By Executive Without Good Reason. 

(i) The Employment Term and Executive’s employment hereunder may be terminated by the Company for Cause (as defined below) and shall
terminate automatically upon Executive’s resignation; provided that Executive will be required to give the Company at least 180 days advance written notice of such resignation for Good Reason (or such shorter period as otherwise may be
mutually agreed by the Company and Executive in writing) or such longer period as may be provided under Section 7(f) hereof. 
 (ii) For purposes of this Agreement, “Cause” shall mean (A) Executive’s willful and continued failure to perform his material duties with respect to the Company or its
subsidiaries as provided hereunder which continues beyond thirty (30) days after a written demand for substantial performance is delivered to Executive by the Company (the “Cure Period”); (B) the willful or intentional
engaging by Executive in conduct that causes material and demonstrable injury, monetarily or otherwise, to the Company, the Investors or their respective Affiliates (each as defined in the Third Amended and Restated 2004 Stock Option Plan for Key
Employees of Visant Holding Corp. (“VHC”) and Its Subsidiaries (the “Plan”)); (C) the commission by Executive of a crime constituting (x) a felony under the laws of the United States or any state thereof
or (y) a misdemeanor involving moral turpitude; or (D) a material breach of this Agreement or any of the Equity Documents or the New Equity Documents by Executive, including, without limitation, engaging in any action in breach of the
restrictive covenants set forth in Section 8 of this Agreement or the Equity Documents or the New Equity Documents, that continues beyond the Cure Period (to the extent that such breach can reasonably be cured). The determination of Cause shall
be made by the Chief Executive Officer of Visant following consultation with the Board and shall be communicated to Executive in writing setting forth the basis of Cause. Executive and his legal counsel shall have the opportunity to communicate
Executive’s position to the Board promptly following Executive’s receipt of the Company’s explanation and in any event not later than five (5) days from receipt, prior to a final determination of Cause, and any determination of
Cause shall be made in writing to Executive. In addition, “Good Reason” shall mean (i) a reduction in the Executive’s base salary or annual incentive compensation opportunity (other than a general reduction in base salary
or annual incentive compensation opportunity that affects all members of senior management in substantially the same proportions, provided that the Executive’s base salary is not reduced by more than 10%); (ii) a substantial
reduction in the Executive’s duties and responsibilities, an adverse change in Executive’s titles as set forth in Section 2 above or the assignment to Executive of duties or responsibilities substantially inconsistent with such
titles; or 

  
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(iii) a transfer of the Executive’s primary workplace by more than fifty miles outside of Bloomington, Minnesota. Prior to Executive resigning for Good Reason, Executive shall provide
the Company with written notice setting forth the event or circumstance giving rise to Good Reason and the Company shall have a period of 30 days to cure such Good Reason event or circumstance. If the Company fails to cure such event or occurrence
within such period, Executive may proceed with giving notice of resignation for Good Reason. 
 (iii) If Executive’s
employment is terminated by the Company for Cause, or if Executive resigns other than for Good Reason or as a result of Executive’s death or Disability, Executive shall be entitled to receive: 

(A) a lump-sum payment of the Base Salary that is earned by Executive but unpaid as of the Date of Termination (as such
term is defined in Section 7(d) below), paid within ten (10) business days after the Date of Termination; 
 (B) a lump-sum payment of any Annual Bonus that is earned by Executive in respect of the Fiscal Year immediately prior to the Fiscal Year in which the Date of Termination occurs, but unpaid as of the Date
of Termination, paid within ten (10) business days after the Date of Termination; 
 (C) a lump-sum payment
equal to all vacation pay that is accrued in respect of Executive’s unused vacation days as of the Date of Termination, paid within ten (10) business days after the Date of Termination; 

(D) reimbursement for any unreimbursed business expenses incurred by Executive in accordance with Company policy
referenced in Section 5(c) above prior to the Date of Termination (with such reimbursements to be paid promptly after Executive provides the Company with the necessary documentation of such expenses to the extent required by such policy);

 (E) such Employee Benefits, if any, as to which Executive may be entitled under the applicable Company Plans
upon termination of employment hereunder, to the extent provided therein (the payments and benefits described clauses (A) through (E) hereof being referred to, collectively, as the “Accrued Rights). 

Following such termination of Executive’s employment by the Company for Cause or resignation by Executive other than for Good Reason or as a result
of Executive’s death or Disability, except as set forth in this Section 7(a)(iii) or Section 7(f) below, Executive shall have no further rights to any compensation or any other benefits under this Agreement. 

b. Disability or Death. 
 (i) Executive’s employment hereunder shall terminate upon Executive’s death and may be terminated by the Company if Executive becomes physically or mentally incapacitated and is therefore unable
for a period of six (6) consecutive months or for an aggregate of nine (9) months in any eighteen (18) consecutive month period to perform Executive’s duties (such incapacity is hereinafter referred to as
“Disability”). Any question as to the existence of the Disability of Executive as to which Executive and the Company cannot agree 

  
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shall be determined in writing by a qualified independent physician mutually acceptable to Executive (or to the Executive’s representative, if Executive is not capable of acting on own his
behalf) and the Company. If Executive (or to the Executive’s representative, if Executive is not capable of acting on his own behalf) and the Company cannot agree as to a qualified independent physician, each shall appoint such a physician and
those two physicians shall within fifteen (15) day of the appointment of the last of the two physicians, select a third who shall make such determination in writing. If such two physicians do not within such fifteen (15) day period select
a third physician, the parties agree that either party may request a court of competent jurisdiction to select such third physician on an expedited basis, the application to which the non-moving party consents. The determination of Disability
hereunder shall be made in a writing that is promptly provided to the Company and Executive (or his representative, if Executive is not capable of acting on his own behalf) shall be final and conclusive for all purposes of the Agreement. 

(ii) Upon termination of Executive’s employment hereunder for either Disability or death, Executive or Executive’s estate (as
the case may be) shall be entitled to receive: 
 (A) the Accrued Rights; and 

(B) a lump-sum payment of the pro rata portion (based upon the number of days in the applicable Fiscal Year during which
Executive was employed with the Company through the Date of Termination, relative to the number of days in the applicable Fiscal Year) of the Annual Bonus, if any, that Executive would have been entitled to receive pursuant to the Incentive Plan had
Executive remained employed through the date that bonuses are paid to other executives under the Incentive Plan in respect of the Fiscal Year in which the Date of Termination occurs, paid when such bonuses are otherwise paid to active participants
under the Incentive Plan (the “Pro Rata Bonus”). 
 Following Executive’s termination of employment due to
Executive’s death or Disability, except as set forth in this Section 7(b)(ii), Executive shall have no further rights to any compensation or any other benefits under this Agreement. 

c. By the Company Without Cause; By Executive for Good Reason. 

(i) Executive’s employment hereunder may be terminated by the Company without Cause or by Executive for Good Reason. 

(ii) If Executive’s employment is terminated by the Company without Cause (including by virtue of the Company’s failure to
renew the Employment Term at any time but excluding by reason of his death or Disability) or by Executive for Good Reason, Executive shall be entitled to receive: 

(A) the Accrued Rights payable as provided under Section 7(a)(iii) and any Pro Rata Bonus payable as provided under
Section 7(b)(ii)(B); 

  
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 (B) subject to Executive’s continued compliance with the provisions of
Section 8 and subject to Executive’s execution (without revocation) of a release of claims (the form of which shall be that customarily provided by the Company to terminating employees), an amount equal to the sum of (x) twenty-four
months’ Base Salary at the rate in effect immediately prior to the Date of Termination and (y) the product of (I) 2.0 and (II) the Target Bonus for the year in which the Date of Termination occurs. The foregoing shall be payable in
equal monthly installments over the twenty-four (24) month period commencing on such Date of Termination (the “Severance Period”); and 
 (C) continuation of health and welfare benefits (pursuant to the same benefit plans as in effect for active employees of the Company) until the earlier to occur of (x) twenty-four months from the
Date of Termination and (y) the date on which Executive commences to be eligible for comparable coverage from any subsequent employer. 

The amounts payable under this Section 7(c)(ii) shall be without giving effect to any reduction in compensation otherwise giving rise to
“Good Reason” under clause (i) thereof, in the case of a termination for Good Reason. 

(iii) In the case of Executive’s termination of employment by the Company without Cause, by Executive for Good
Reason or by Executive under Section 7(f) hereof, in addition to the foregoing: (A) Executive shall be entitled to exercise his vested options on the stock granted to Executive under the Equity Documents through a net settlement exercise
(pursuant to which Executive’s payment of the exercise price and taxes due in connection with the exercise will be paid by shares of stock underlying such options that otherwise would be issued as a result of the exercise, based on the fair
market value of the shares at the time (as determined under the Equity Documents and the Plan and the most recently available third party valuation of the stock obtained by Visant)) effective the Date of Termination. The resulting net number of
shares of stock will be subject to a hold period of 6 months and 2 days from issuance (the day following the end of the hold period, the “date of repurchase”), at which date Visant will repurchase the shares at the fair market value
of the shares as of the date of repurchase (as determined under the Equity Documents and the Plan and the most recently available third party valuation of the stock obtained by Visant). (B) Any shares of the stock owned by Executive at the Date
of Termination (or vested in connection with the termination of employment pursuant to the Restricted Stock Agreement dated September 10, 2010 between VHC and Executive (the “2010 RSA”)) will be valued as of the Date of
Termination based on the fair market value (as determined under the Equity Documents and the Plan) of the stock as of the Date of Termination based on the most recently available third party valuation of the stock obtained by Visant, and tendered by
Executive to Visant, which will repurchase the shares of stock as of the Date of Termination. The proceeds equal to the number of shares of stock owned by Executive and repurchased by Visant multiplied by the fair market value of a share of
the stock will be paid to Executive in a lump sum on the thirtieth (30th) day following the second anniversary of the Date of Termination. The terms of the RSA shall hereby be deemed amended in the case of a resignation by Executive under Section 7(f) and subject to
Executive’s compliance with the terms thereof, such that a resignation by Executive under Section 7(f) shall be deemed a termination of Employment for Good Reason for purposes of Section 2 of the RSA. However,

  
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for the avoidance of doubt the provisions of this Section 7(c)(iii) shall not apply to any Stock Options, phantom shares or stock pursuant to the New Equity Documents and granted pursuant to
the arrangements under Section 6 of this Agreement or any stock options, phantom shares or stock granted pursuant to any arrangement after the date of this Agreement. 
 Following Executive’s termination of employment by the Company without Cause (including by virtue of the Company’s failure to renew the Employment Term at any time), by Executive for Good Reason
or by Executive pursuant to Section 7(f), except as set forth in Section 7(c)(ii), Executive shall have no further rights to any compensation or any other benefits under this Agreement or any other severance plan or arrangement of Visant
or any of its subsidiaries. 
 d. Notice of Termination. Any purported termination of employment by the Company or by
Executive (other than due to Executive’s death) shall be communicated by written Notice of Termination to the other party hereto in accordance with Section 11(h)) hereof. For purposes of this Agreement, a “Notice of
Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of
employment under the provision so indicated. For purposes of this Agreement, the “Date of Termination” shall mean the effective date of resignation or termination by the respective party; provided, however, that (i) with
respect to a termination for Cause by the Company, the Date of Termination shall not occur prior to the expiration of any applicable Cure Period, (ii) with respect to a resignation by Executive (other than in the case of Executive’s death
or Disability), the Date of Termination shall not occur prior to the exhaustion of any notice period on the part of Executive required under Section 7 (or such shorter period as otherwise may be mutually agreed by the Company and Executive in
writing, in the case of Executive’s resignation for Good Reason or under Section 7(f)), and subject to there being no cure by the Company prior to such date, in the case of a resignation for Good Reason and (iii) upon a nonrenewal of
the Employment Term by either party, the date the Employment Term expires, and not the date of the notice itself, shall constitute the applicable Date of Termination. 
 e. Board/Committee Resignation. Upon termination of Executive’s employment for any reason, Executive agrees to resign, as of the Date of Termination and to the extent applicable, from the
Board (and any committees thereof) and the board of directors (and any committees thereof) of any of the Company’s Affiliates (as defined in the Plan). 
 f. Resignation. In addition to the other rights of Executive hereunder, and notwithstanding anything to the contrary set forth in this Agreement, Executive may at any time for any reason provide
the Company with a Notice of Termination to terminate his employment with the Company without Good Reason. In the event Executive provides such a Notice of Termination without Good Reason, Executive’s last day of employment with the Company
will be nine (9) months after Executive provides such a Notice of Termination under this Section 7(f) (the “Transition Period”), provided that if Executive and the Company mutually agree the duration of the Transition
Period and Executive’s employment may be shortened to such shorter period as agreed by the parties in writing. A termination of employment by Executive made under this Section 7(f) shall entitle Executive to the rights and benefits under
Sections 7(c)(ii) and 7(c)(iii). During the duration of the Transition Period Executive shall be entitled to the compensation and benefits otherwise 

  
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provided, and shall perform such duties and responsibilities, in each case as set forth in this Agreement, provided that for the avoidance of doubt the Company reserves its rights under
Section 7 and to modify Executive’s responsibilities during such period and provided further that Executive agrees, if requested, to also assist the Company in the recruitment and/or selection of Executive’s successor and/or other
employees, any restructuring plans, and/or the transition of his duties and responsibilities to others employed and/or to be employed by the Company (and any such modification to Executive’s duties and/or responsibilities shall not give rise to
a right of Executive to resign for Good Reason under this Agreement). 
 8. Confidential Information; Covenant Not to
Compete; Non-Solicit. 
 a. Executive acknowledges and recognizes the highly competitive nature of the business of Visant
and its Affiliates and accordingly agrees as follows: 
 (i) In consideration of the Company entering into this Agreement with
the Executive and without limitation of any prior agreement made with respect to confidentiality or other restrictive covenants made by Executive in the favor of VHC or any of its Affiliates prior to the date hereof, the Executive hereby agrees
effective as of the date of the Executive’s commencement of employment with the Company or its subsidiaries, without the Company’s prior written consent, the Executive shall not, directly or indirectly, (x) at any time during or after
the Executive’s employment with the Company or its subsidiaries, disclose any Confidential Information (as such term is defined in that certain Management Stockholder’s Agreement dated March 17, 2005 previously entered by Executive)
pertaining to the business of the Company or any of its subsidiaries, except when required to perform his or her duties to the Company or one of its subsidiaries, by law or judicial process; or (y) at any time during the Executive’s
employment with the Company or its subsidiaries and for a period of two years thereafter, directly or indirectly (A) act as a proprietor, investor, director, officer, employee, substantial stockholder, consultant, or partner in any business
that directly or indirectly competes, at the relevant determination date, with the business of the Company in, (1) school photography services or school-related clothing, affinity products and services, including yearbooks, (2) memory
books, (3) commercial printing and binding, (4) printing services to companies engaged in direct marketing, (5) fragrance, cosmetics and toiletries-related sampling or (6) single use packaging for fragrances, cosmetics and
toiletries, in North America in the case of clauses (1) through (4) and in North America and Europe in the case of clauses (5) and (6), (B) solicit customers or clients of the Company or any of its subsidiaries to terminate their
relationship with the Company or any of its subsidiaries or otherwise solicit such customers or clients to compete with any business of the Company or any of its subsidiaries or (C) solicit or offer employment to any person who has been
employed by the Company or any of its subsidiaries at any time during the twelve (12) months immediately preceding the termination of the Executive’s employment. If the Executive is bound by any other agreement with the Company regarding
the use or disclosure of Confidential Information, the provisions of this Agreement shall be read in such a way as to further restrict and not to permit any more extensive use or disclosure of Confidential Information. 

b. Notwithstanding clause (a) above, if at any time a court holds that the restrictions stated in such clause (a) are
unreasonable or otherwise unenforceable under circumstances then existing, the parties hereto agree that the maximum period, scope or 

  
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geographic area determined to be reasonable under such circumstances by such court will be substituted for the stated period, scope or area. In the event that the provisions of this
Section 8, or any portion thereof, should ever be adjudicated by a court of competent jurisdiction in proceedings to which Executive, Visant or any of its subsidiaries is a proper party to exceed the time or geographic or other limitations
permitted by applicable law, then such provisions shall be deemed reformed to the maximum time or geographic or other limitations permitted by applicable law, as determined by such court in such action, the parties hereby acknowledging their desire
that in such event such action be taken. 
 Because the Executive’s services are unique and because the Executive has had
access to Confidential Information, the parties hereto agree that money damages will be an inadequate remedy for any breach of this Agreement. In the event of a breach or threatened breach of this Agreement, the Company or its successors or assigns
may, in addition to other rights and remedies existing in their favor, apply to any court of competent jurisdiction for specific performance and/or injunctive relief in order to enforce, or prevent any violations of, the provisions hereof (without
the posting of a bond or other security). 
 9. Specific Performance. Executive acknowledges and agrees that the
Company’s remedies at law for a breach or threatened breach of any of the provisions of Section 8 would be inadequate and the Company would suffer irreparable damages as a result of such breach or threatened breach. In recognition of this
fact, Executive agrees that, in the event of such a breach or threatened breach, in addition to any remedies at law, the Company, without posting any bond, shall be entitled to cease making any payments or providing any benefit otherwise required by
this Agreement and obtain equitable relief in the form of specific performance, temporary restraining order, temporary or permanent injunction or any other equitable remedy which may then be available. 

10. Arbitration. Except as provided in Section 9, any other dispute arising out of or asserting breach of this Agreement, or
any statutory or common law claim by Executive relating to his employment under this Agreement or the termination thereof (including any tort or discrimination claim), shall be exclusively resolved by binding statutory arbitration before JAMS (fka
Judicial Arbitration and Mediation Specialists) in accordance with JAMS’ Employment Arbitration Rules and Procedures. Such arbitration process shall take place in New York, New York. A court of competent jurisdiction may enter judgment upon the
arbitrator’s award. Each party shall pay the costs and expenses of arbitration (including fees and disbursements of counsel) incurred by such party in connection with any dispute arising out of or asserting breach of this Agreement, provided
that the arbitrator shall award the party prevailing on substantially all of the material elements of the dispute its reasonable attorney’s fees following the conclusion of the arbitration. 

11. Miscellaneous. 
 a. Reserved. 
 b. Governing Law. This Agreement shall be governed
by and construed in accordance with the laws of the State of New York, without regard to conflicts of laws principles thereof. 

  
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 c. Entire Agreement/Amendments. This Agreement contains the entire understanding of
the parties with respect to the employment of Executive by the Company. There are no restrictions, agreements, promises, warranties, covenants or undertakings between the parties with respect to the subject matter herein other than those expressly
set forth herein. This Agreement may not be altered, modified, or amended except by written instrument signed by the parties hereto; provided, however, that the parties hereto acknowledge that an executive officer of VHC shall have the right, in his
or her sole discretion, to reduce the scope of any covenant set forth in this Agreement or any portion thereof, effective as to Executive immediately upon receipt by Executive of written notice thereof from VHC. 

d. No Waiver. No waiver of any of the provisions of this Agreement, whether by conduct or otherwise, in any one or more
instances, shall be deemed or be construed as a further, continuing or subsequent waiver of any such provision or as a waiver of any other provision of this Agreement. No failure to exercise and no delay in exercising any right, remedy or power
hereunder will preclude any other or further exercise of any other right, remedy or power provided herein or by law or in equity. 
 e. Severability. In the event that any one or more of the provisions of this Agreement shall be or become invalid, illegal or unenforceable in any respect, the validity, legality and enforceability
of the remaining provisions of this Agreement shall not be affected thereby. 
 f. Assignment. This Agreement, and all
of Executive’s rights and duties hereunder, shall not be assignable or delegable by Executive; provided, however, that if Executive shall die, all amounts then payable to Executive hereunder shall be paid in accordance with the
terms of this Agreement to Executive’s devisee, legatee or other designee or, if there be no such devisee, legatee or designee, to Executive’s estate. Any purported assignment or delegation by Executive in violation of the foregoing shall
be null and void ab initio and of no force and effect. This Agreement may be assigned by the Company to a person or entity which is an Affiliate, and shall be assigned to any successor in interest to substantially all of the business
operations of the Company. Upon such assignment, the rights and obligations of the Company hereunder shall become the rights and obligations of such Affiliate or successor person or entity. Further, the Company will require any successor (whether,
direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the
Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company” shall mean the Company and any successor to its business and/or assets which is required by this Section 11(f)
to assume and agree to perform this Agreement or which otherwise assumes and agrees to perform this Agreement; provided, however, in the event that any successor, as described above, agrees to assume this Agreement in accordance with
the preceding sentence, as of the date such successor so assumes this Agreement, the Company shall cease to be liable for any of the obligations contained in this Agreement. 
 g. Set Off; Mitigation. The Company’s obligation to pay Executive the amounts provided and to make the arrangements provided hereunder shall not be subject to set-off, counterclaim or
recoupment, other than amounts loaned or advanced to Executive by the 

  
 11 

 
Company or its Affiliates or otherwise as provided in Section 7(c)(ii)(C) hereof. Executive shall not be required to mitigate the amount of any payment provided for pursuant to this
Agreement by seeking other employment or otherwise and the amount of any payment provided for pursuant to this Agreement shall not be reduced by any compensation earned as a result of Executive’s other employment or otherwise. 

h. Notice. For the purpose of this Agreement, notices and all other communications provided for in the Agreement shall be in
writing and shall be deemed to have been duly given when delivered by hand or overnight courier or three days after it has been mailed by United States registered mail, return receipt requested, postage prepaid, addressed to the respective addresses
set forth below in this Agreement, or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notice of change of address shall be effective only upon receipt. 

If to the Company: 
 Jostens, Inc. 
 c/o Visant Corporation 

357 Main Street 

Armonk, New York 10504 
 Attention: General Counsel 
 With a copy to: 

Simpson Thacher & Bartlett LLP 
 425 Lexington Avenue 
 New York, New York 10017 

Attention: Andrea K. Wahlquist, Esq. 
 If to Executive: 
 To the most recent address of Executive set forth in the
personnel records of the Company. 
 With a copy to: 
 Wechsler & Cohen, LLP 
 17 State Street, 15th Floor 

New York, New York 10004 
 Attention: David B. Wechsler, Esq. 
 i. Prior Agreements. This Agreement
supersedes all prior agreements and understandings (including verbal agreements) between Executive and the Company and/or its Affiliates regarding the terms and conditions of Executive’s employment with the Company and/or its Affiliates;
provided, however, that the Equity Documents (as defined hereafter) and the New Equity Documents, as applicable, shall govern the terms and conditions of Executive’s 

  
 12 

 
respective equity holdings thereunder in the Company or VHC, and the terms and conditions thereof, and the Amended and Restated Executive Supplemental Retirement Agreement dated December 10,
2008 shall govern the terms and conditions of Executive’s benefits thereunder. For purposes of this Agreement, “Equity Documents” shall mean each of the Management Stockholder’s Agreement, the 2010 RSA and the Sale Participation
Agreement previously entered into by Executive, the 2004 and 2005 stock option agreements, the 2008 Long Term Incentive Plan award letter and the 2010 Long Term Incentive Plan award letter. 

j. Cooperation. Executive shall provide Executive’s reasonable cooperation in connection with any action or proceeding (or
any appeal from any action or proceeding) which relates to events occurring during Executive’s employment hereunder, but only to the extent the Company requests such cooperation with reasonable advance notice to Executive and in respect of such
periods of time as shall not unreasonably interfere with Executive’s ability to perform his duties with any subsequent employer; provided, however, that without duplication of costs and expenses covered under Section 14, the
Company shall pay any reasonable travel, lodging and other related out of pocket expenses that Executive may incur in connection with providing all such cooperation, to the extent approved by the Company prior to incurring such expenses, and
including reasonable compensation for his time in the event that such cooperation is requested by the Company (and exclusive of where Executive’s participation is required by virtue of legal process or demand) during any period of time that
Executive is not receiving compensation whether as an active employee or as severance. 
 k. Withholding Taxes. The
Company may withhold from any amounts payable under this Agreement such Federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation. 

l. Counterparts. This Agreement 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. 
 12. Compliance with IRC Section 409A.
Notwithstanding anything herein to the contrary, (a) if at the time of Executive’s termination of employment with the Company Executive is a “specified employee” as defined in Section 409A of the Internal Revenue Code of
1986, as amended (the “Code”), and the deferral of the commencement of any payments or benefits otherwise payable hereunder as a result of such termination of employment is necessary in order to prevent any accelerated or additional tax
under Section 409A of the Code, then the Company will defer the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to Executive) until the date
that is six months following Executive’s termination of employment with the Company (or the earliest date as is permitted under Section 409A of the Code) and (b) if any other payments of money or other benefits due to Executive
hereunder could cause the application of an accelerated or additional tax under Section 409A of the Code, such payments or other benefits shall be deferred if deferral will make such payment or other benefits compliant under Section 409A
of the Code, or otherwise such payment or other benefits shall be restructured, to the extent possible, in a manner, determined by the Board, that does not cause such an accelerated or additional tax. For purposes of Section 409A, each payment
made under this Agreement shall be designated as a “separate payment” within the meaning of the Section 

  
 13 

 
409A, and references herein to Executive’s “termination of employment” shall refer to Executive’s separation from service with the Company within the meaning of
Section 409A of the Code. To the extent any reimbursements or in-kind benefits due under this Agreement constitute “deferred compensation” under Section 409A, any such reimbursements or in-kind benefits shall be paid to Executive
in a manner consistent with Treas. Reg. Section 1.409A-3(i)(1)(iv). The Company shall consult with Executive in good faith regarding the implementation of the provisions of this Section 12; provided that neither the Company nor any
of its employees or representatives shall have any liability to Executive with respect to thereto. 
 13. Reserved. 

14. Indemnification. The Company agrees to indemnify and defend the Executive to the maximum extent and subject to the applicable
terms, conditions, limitations and exclusions, as permitted by applicable law and by the applicable Certificate of Incorporation and by-laws (or the applicable equivalent governing documents) and directors’ and officers’ insurance, with
respect to any and all claims which arise from or relate to Executive’s duties as an officer, member of a Board of Directors of the Company or any subsidiary (or equivalent governing entity) and employee of the Company, and duties performed in
connection with the offices of the Company and its subsidiaries held by Executive, or as a fiduciary of any employee benefit plan or a similar capacity for which Executive performs services at Visant’s or the Company’s request. 

[Signatures on next page.] 

  
 14 

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

					
	 VISANT CORPORATION:
	  	EXECUTIVE:
		
	  
	  	 /s/ Timothy M. Larson

		  	Timothy M. Larson
			
	By:	 	 /s/ Marc L. Reisch
	  	
		
	JOSTENS, INC.:	  	
		
	  
	  	
			
	By:	 	 /s/ Marc L. Reisch
	  	

 [signature page Amended and Restated Employment Agreement] 

  
 15EX-4.1

 Exhibit 4.1 
 THE WARRANTS REPRESENTED HEREBY AND THE SHARES OF COMMON STOCK ISSUABLE UPON ANY EXERCISE HEREOF WERE ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”), AND THE WARRANTS REPRESENTED HEREBY AND THE COMMON STOCK ISSUABLE UPON ANY EXERCISE HEREOF MAY NOT BE SOLD OR OTHERWISE TRANSFERRED BY ANY PERSON, INCLUDING A PLEDGEE, UNLESS EITHER (1) A REGISTRATION
STATEMENT WITH RESPECT THERETO SHALL BE EFFECTIVE UNDER THE SECURITIES ACT, OR (2) THE COMPANY SHALL HAVE RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT IS AVAILABLE.

  

			
	May 2, 2012	  	Series A Warrant No. 2012-1

 AMERICAN ELECTRIC TECHNOLOGIES, INC. 

WARRANT TO PURCHASE SHARES OF COMMON STOCK 
 For value received, AMERICAN ELECTRIC TECHNOLOGIES, INC., a Florida corporation (the “Company”), hereby certifies that JCH Crenshaw Holdings, LLC, a Texas limited liability company, or
its transferees, successors or assigns (each person or entity holding all or part of this Warrant being referred to as a “Holder”), is the registered holder of Series A Warrants (the “Warrants”) to subscribe for and
purchase One Hundred Twenty-Five Thousand (125,000) shares (as may be adjusted as provided herein, the “Warrant Shares”) of the fully paid and nonassessable Common Stock (as defined below), at a purchase price per share
initially equal to $6.00 and subject to adjustment as provided herein (the “Warrant Price”) on or before, 5:00 P.M., Eastern Time, on May 2, 2020 (the “Expiration Time”), subject to the provisions and upon the
terms and conditions hereinafter set forth. As used in this Warrant, the term “Business Day” means any day other than a Saturday or Sunday on which commercial banks located in New York, New York are open for the general transaction
of business. 
 Section 1. Methods of Exercise; Issuance of New Warrant. 

(a) Subject to the provisions hereof, the Holder may exercise this Warrant at any time prior to the Expiration Time, in whole or in part
and from time to time, by the surrender of this Warrant at the principal office of the Company, or such other office or agency of the Company as it may reasonably designate by written notice to the Holder, during normal business hours on any
Business Day, with (i) the Notice of Exercise – Payment in Cash attached hereto as Appendix A duly executed and the payment by the Holder by cash, certified check payable to the Company or wire transfer of immediately available
funds to an account designated to the exercising Holder by the Company of an amount equal to the then applicable Warrant Price multiplied by the number of Warrant Shares then being purchased, or (ii) in the event of a cashless exercise pursuant
to Section 1(b) below, with the Notice of Exercise – Net Issuance attached hereto as Appendix B duly executed and completed. Effective as of the close of business on the date on which the Holder shall have satisfied in full the
Holder’s obligations set forth herein regarding an exercise of this Warrant (the “Exercise Date”) (provided such date is prior to the Expiration Time), the Holder (or such other person or persons as directed by the
Holder) shall be treated for all purposes as the holder of record of the number of Warrant Shares receivable upon such exercise. 

 (b) In addition to and without limiting the rights of the Holder hereof under the terms of
this Warrant, the Holder may elect to receive, without the payment by the Holder of the Warrant Price, Warrant Shares equal to the value of this Warrant or any portion hereof by the surrender of this Warrant (or such portion of this Warrant being so
exercised) together with the Notice of Exercise – Net Issuance attached hereto as Appendix B duly executed and completed. Thereupon, the Company shall issue to the Holder such number of Warrant Shares, as is computed using the following
formula: 
 X = Y(A-B) 
 A 
 where 
 X = the number of shares of Common Stock to be issued to the Holder (or such other person or persons as directed by the Holder) upon such exercise of the rights under this Section 1(b). 

Y = the total number of shares of Common Stock covered by this Warrant which the Holder has surrendered for cashless exercise (determined as if the
Warrant Price were being paid in cash). 
 A = the Fair Market Value (as defined below) of one share of Common Stock on the date that the Holder
delivers the Notice of Exercise – Net Issuance to the Company as provided herein. 
 B = the Warrant Price in effect under this Warrant on
the date that the Holder delivers the Notice of Exercise – Net Issuance to the Company as provided herein. 
 The “Fair Market
Value” of one share of Common Stock as of a particular date (the “Valuation Date”) shall mean the closing sale price of one share of Common Stock or, if no closing sale price is reported, the last reported sale price of one
share of Common Stock on the last trading day prior to the Valuation Date, as reported on the NASDAQ Global Select Market, the NASDAQ Global Market, the NASDAQ Capital Market or the New York Stock Exchange (an “Approved Market”). If
the Common Stock is not then traded on an Approved Market, the “Fair Market Value” of one share of Common Stock as of the Valuation Date shall mean the closing sale price of one share of Common Stock or, if no closing sale price is
reported, the last reported sale price of one share of Common Stock, on the last trading day prior to the Valuation Date as reported on the principal U.S. national or regional securities exchange on which the Common Stock is then listed or quoted.
If the Common Stock is not then traded on an Approved Market or listed or quoted on a U.S. national or regional securities exchange, the “Fair Market Value” of one share of Common Stock as of the Valuation Date shall mean the last quoted
bid price for one share of Common Stock on the last trading day prior to the Valuation Date as reported in the over-the-counter markets. If the Common Stock is not then traded on an Approved Market or listed or quoted on a U.S. national or regional
securities exchange and the bid price on the over-the-counter markets is not available, the “Fair Market Value” of one share of Common Stock as of the Valuation Date shall be determined in good faith by the Board of

  
 2 

 
Directors of the Company (the “Board”). The Board shall respond promptly in writing to an inquiry by the Holder prior to the exercise hereunder as to the Fair Market Value of a
share of Common Stock. Such determination shall be binding on the Holder unless the Holder objects thereto in writing within 10 Business Days after receipt of such writing. In the event the Company and the Holder cannot agree on the Fair Market
Value per share within 10 Business Days after the date of the Holder’s objection, the Fair Market Value per share of Common Stock shall be determined by a disinterested appraiser (which may be a national or regional investment banking firm or
national accounting firm) selected by the Holder and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company. Any determination of Fair Market Value by a disinterested appraiser shall be made within 30 days
after the date of selection. A “trading day” is a day during which the trading of securities generally occurs on the Approved Market on which the Common Stock is then listed or, if the Common Stock is not then listed on an Approved Market,
on the principal U.S. national or regional securities exchange on which the Common Stock is then listed or quoted, or if the Common Stock is not then listed or quoted on a U.S. national or regional securities exchange, on the over-the-counter market
on which the Common Stock is then quoted. 
 (c) In the event of any exercise of the rights represented by this Warrant, within
three Business Days after the Exercise Date at the Company’s expense, the Company shall deliver to the Holder (or such other person or persons as directed by the Holder) (i) certificate(s) for the whole number of shares of Common Stock so
purchased, in such name or names as the Holder may designate; (ii) unless this Warrant has been fully exercised, a new Warrant representing the whole number of Warrant Shares, if any, with respect to which this Warrant shall not then have been
exercised in such name or names as the Holder shall designate; and (iii) payment for any fractional shares in accordance with Section 6. 
 Section 2. Reservation of Shares; Stock Fully Paid; Listing. 
 (a) The
Company shall keep reserved and available a sufficient number of shares of the authorized and unissued shares of Common Stock, free from all taxes, liens, charges and security interests, to provide for the exercise of the rights of purchase
represented by this Warrant in compliance with its terms. The transfer agent for the Common Stock (the “Transfer Agent”) and every subsequent transfer agent for any shares of the Company’s capital stock issuable upon the
exercise of this Warrant will be irrevocably authorized and directed at all times to reserve such number of authorized shares as shall be required for such purpose. The Company will keep a copy of this Warrant on file with the Transfer Agent and
with every subsequent transfer agent for any shares of the Company’s capital stock issuable upon the exercise of this Warrant. The Company shall (i) instruct such Transfer Agent to make the appropriate book entries and
(ii) requisition from time to time from such Transfer Agent the stock certificates, if any, required to honor outstanding Warrants upon exercise thereof, in each case in accordance with the terms of this Warrant. The Company will furnish such
Transfer Agent a copy of all notices of adjustments and certificates related thereto transmitted to each Holder pursuant to Section 3(k) hereof. 
 (b) The Company covenants that all Warrant Shares which may be issued upon exercise of this Warrant will, upon issuance, be duly and validly authorized and issued, fully paid, nonassessable, free of
preemptive rights and free from all taxes, liens, charges and 

  
 3 

 
security interests with respect to the issuance thereof. The Company will take no action to increase the par value of the Common Stock to an amount in excess of the Warrant Price, and the Company
will not enter into any agreements inconsistent with the rights of the Holder hereunder. The Company will use its reasonable best efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction
thereof as may be necessary to enable the Company to perform its obligations hereunder. 
 (c) The Company will from time to
time use commercially reasonable efforts to ensure that the Warrant Shares, immediately upon their issuance upon the exercise of Warrants, will be listed or authorized for quotation on the principal securities exchange or quotation system within the
United States of America, if any, on which the Common Stock is then listed. 
 Section 3. Adjustments and Distributions.
The number and kind of securities purchasable upon the exercise of this Warrant and the Warrant Price shall be subject to adjustment from time to time upon the occurrence of certain events, as follows: 

(a) If the Company (i) pays a dividend or otherwise distributes to holders of its Common Stock, as such, shares of its capital stock
(whether Common Stock or capital stock of any other class), (ii) subdivides its outstanding shares of Common Stock into a greater number of shares of Common Stock, (iii) combines its outstanding shares of Common Stock into a smaller number
of shares of Common Stock, or (iv) issues any shares of its capital stock in a reclassification of its outstanding shares of Common Stock (including any such reclassification in connection with a consolidation, merger or other business
combination transaction in which the Company is the continuing or surviving corporation), then the number and kind of securities purchasable upon exercise of this Warrant immediately prior thereto will be adjusted so that the Holder thereof will be
entitled to receive (A) in the case of a dividend or distribution, the sum of (1) the number of Warrant Shares that, if this Warrant had been exercised immediately prior to such adjustment, such Holder would have received upon such
exercise and (2) the number and kind of additional shares of capital stock that such Holder would have been entitled to receive as a result of such dividend or distribution by virtue of its ownership of such Warrant Shares, (B) in the case
of a subdivision or combination, the number of Warrant Shares that, if this Warrant had been exercised immediately prior to such adjustment, such Holder would have received upon such exercise, adjusted to give effect to such subdivision or
combination as if such Warrant Shares had been subject thereto, or (C) in the case of an issuance in a reclassification, the sum of (1) the number of Warrant Shares that, if this Warrant had been exercised immediately prior to such
adjustment, such Holder would have received upon such exercise and retained after giving effect to such reclassification as if such Warrants Shares had been subject thereto and (2) the number and kind of additional shares of capital stock that
such Holder would have been entitled to receive as a result of such reclassification as if such Warrant Shares had been subject thereto. An adjustment made pursuant to this Section 3(a), in the case of a dividend or distribution, will be made
whenever such dividend or distribution is made and, at such time, will become effective retroactive to the time that is immediately after the record date for the determination of shareholders entitled to receive such dividend or distribution and, in
the case of a subdivision, combination or reclassification, will become effective immediately after the effective date of such subdivision, combination or reclassification. 

  
 4 

 (b) If the Company issues rights, options or warrants to holders of the outstanding shares
of Common Stock, as such, entitling the holders of such rights, options or warrants to subscribe for or purchase shares of Common Stock at a price per share that is lower on the record date mentioned below than the Conversion Price (as defined
below) per share of Series A Convertible Preferred Stock, par value $0.001 per share (the “Series A Convertible Preferred Stock”), of the Company as of such record date, then the number of Warrant Shares thereafter purchasable upon
the exercise of this Warrant will be adjusted to the number that results from multiplying the number of Warrant Shares purchasable upon exercise of this Warrant immediately prior to such adjustment by a fraction (not to be less than one), the
numerator of which will be the number of shares of Common Stock outstanding on such record date plus the number of additional shares of Common Stock offered by such rights, options or warrants for subscription or purchase and the denominator of
which will be the number of shares of Common Stock outstanding on such record date plus the number of shares of Common Stock which the aggregate subscription or purchase price of the total number of shares of Common Stock so offered would purchase
at the Conversion Price per share of Series A Convertible Preferred Stock on such record date. Such adjustment will be made whenever such rights, options or warrants are issued and, at such time, will become effective retroactive to the time that is
immediately after the record date for the determination of shareholders entitled to receive such rights, options or warrants. In case such subscription or purchase price may be paid in a consideration part or all of which is in a form other than
cash, the fair value of such consideration will be as determined by the Board, whose determination will be conclusive if based on the financial advice of a U.S. national or regional investment banking firm or national accounting firm. Except as
provided in Section 3(f), no further adjustments of the number of Warrant Shares will be made upon the actual issuance of shares of Common Stock upon exercise of such rights, options or warrants. “Conversion Price” means the
Conversion Price as determined under the Articles of Incorporation of the Company, as amended, restated or supplemented the “Articles of Incorporation”); provided, however, that if shares of Series A Convertible
Preferred Stock are no longer outstanding at the time of the occurrence of any event that would have required adjustment to such Conversion Price had the shares of Series A Preferred Stock been then outstanding, then “Conversion Price”
means the Conversion Price per share of Series A Convertible Preferred Stock that would have been in effect had shares of the Series A Convertible Preferred Stock been outstanding at all times since the initial issuance thereof through the date of
the occurrence of such event and all adjustments had been made to the Conversion Price pursuant to the Articles of Incorporation through the date of the occurrence of such event. 

(c) If the Company issues shares of Common Stock, securities convertible into or exchangeable for shares of Common Stock or rights,
options or warrants entitling the holders of such rights, options or warrants to subscribe for or purchase shares of Common Stock (excluding shares of Common Stock, convertible or exchangeable securities or rights, options or warrants issued in any
of the transactions described in Section 3(a) or Section 3(b)) for a purchase price per share of such Common Stock, for a conversion or exchange price per share of Common Stock initially deliverable upon conversion or exchange of such
securities, or for a subscription or purchase price per share of Common Stock initially deliverable upon exercise of such rights, options or warrants, that is less than the Conversion Price per share of Series A Convertible Preferred Stock on the
date the purchase, conversion, exchange or subscription price 

  
 5 

 
of such additional shares of Common Stock are first fixed, then the number of Warrant Shares thereafter purchasable upon the exercise of this Warrant will be adjusted to the number that results
from multiplying the number of Warrant Shares purchasable upon exercise of this Warrant immediately prior to such adjustment by a fraction (not to be less than one), the numerator of which will be the number of shares of Common Stock outstanding on
such date plus the number of additional shares of Common Stock so issued or issuable upon such conversion, exchange or exercise, and the denominator of which will be the number of shares of Common Stock outstanding on such date plus the number of
shares of Common Stock which the aggregate purchase, conversion, exchange or subscription price received or receivable by the Company for such additional shares of Common Stock would purchase at the Conversion Price per share of Series A Convertible
Preferred Stock on such date prior to any adjustment for such event. Such adjustment will be made and become effective immediately after such shares of Common Stock or convertible or exchangeable securities are issued. In case such purchase,
conversion, exchange or subscription price may be paid in a consideration part or all of which is in a form other than cash, the fair value of such consideration will be as determined by the Board, whose determination will be conclusive if based on
the financial advice of a U.S. national or regional investment banking firm or national accounting firm. Except as provided in Section 3(f), no further adjustment will be made upon the actual issue of shares of Common Stock upon conversion or
exchange of such securities convertible into or exchangeable for shares of Common Stock or upon exercise of rights, options or warrants entitling the holders of such rights, options or warrants to subscribe for or purchase shares of Common Stock.

 (d) Whenever the number of Warrant Shares purchasable upon the exercise of this Warrant is adjusted as herein provided, the
Warrant Price will be adjusted to the Conversion Price per share of Series A Convertible Preferred Stock as of such date plus $1.00. No adjustment to the Warrant Price pursuant to this Section 3 shall have the effect of increasing the Warrant
Price above the Warrant Price in effect immediately prior to such adjustment. 
 (e) The term (“Common Stock”)
means (i) the class of shares designated as the Common Stock of the Company as of the date hereof, (ii) all shares of any class or classes (however designated) of the Company, now or hereafter authorized, the holders of which have the
right, without limitation as to amount, either to all or to a part of the balance of current dividends and liquidating dividends after the payment of dividends and distributions on any shares entitled to preference, and the holders of which are
ordinarily entitled to vote generally in the election of directors of the Company, or (iii) any other class of shares resulting from successive changes or reclassifications of such shares consisting solely of changes in par value, or from par
value to no par value, or from no par value to par value. In the event that at any time, as a result of an adjustment made pursuant to Section 3(a), the Warrants become exercisable to purchase Warrant Shares other than shares of Common Stock,
thereafter the number of such other shares so purchasable upon exercise of this Warrant and the Warrant Price payable in respect of such other shares upon the exercise of this Warrant will be subject to adjustment from time to time in a manner and
on terms as nearly equivalent as practicable to the provisions with respect to the Warrant Shares and the Warrant Price contained in this Section 3. 
 (f) Upon the expiration of any rights, options, warrants or conversion or exchange privileges for which an adjustment has been made, if none thereof have been exercised, the Warrant Price and the number
of Warrant Shares purchasable upon the exercise of this 

  
 6 

 
Warrant will, upon such expiration, be readjusted and will thereafter each be such as it would have been had the original adjustment not been required; provided, however, that no
such readjustment will have the effect of increasing the Warrant Price or decreasing the number of Warrant Shares purchasable upon the exercise of this Warrant by an amount in excess of the amount of the adjustment initially made in respect of the
issuance, sale, or grant of such rights, options, warrants or conversion or exchange privileges. 
 (g) If any consolidation or
merger of the Company with another entity in which the Company is not the survivor, or sale, transfer or other disposition of all or substantially all of the Company’s assets to another entity, shall be effected, then, as a condition of such
consolidation, merger, sale, transfer or other disposition, lawful and adequate provision shall be made whereby the Holder shall thereafter have the right to purchase and receive upon the basis and upon the terms and conditions herein specified and
in lieu of the Warrant Shares immediately theretofore issuable upon exercise of this Warrant, such shares of stock, securities or assets as would have been issuable or payable with respect to or in exchange for a number of Warrant Shares equal to
the number of Warrant Shares immediately theretofore issuable upon exercise of this Warrant, had such consolidation, merger, sale, transfer or other disposition not taken place, and in any such case appropriate provision shall be made with respect
to the rights and interests of the Holder to the end that the provisions hereof (including, without limitation, provision for adjustment of the Warrant Price and of the number of Warrant Shares) shall thereafter be applicable, as nearly equivalent
as may be practicable in relation to any shares of stock, securities or properties thereafter deliverable upon the exercise thereof. The Company shall not effect any such consolidation, merger, sale, transfer or other disposition unless prior to or
simultaneously with the consummation thereof the successor entity (if other than the Company) resulting from such consolidation or merger, or the entity purchasing or otherwise acquiring such assets or other appropriate entity shall assume the
obligation to deliver to the Holder such shares of stock, securities or assets as, in accordance with the foregoing provisions, such Holder may be entitled to purchase, and the other obligations under this Warrant. The provisions of this
Section 3(g) shall similarly apply to successive consolidations, mergers, sales, transfers or other dispositions. 
 (h) In
the event of any dissolution of the Company following the transfer of all or substantially all of its properties or assets, the Company, prior to such dissolution, shall deliver or cause to be delivered the stock, securities and assets receivable by
the Holder after the effective date of the dissolution pursuant to this Section 3 to the Holder. 
 (i) The Company will
not, by amendment of its Articles of Incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance
of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the Holder against
dilution or other impairment. 
 (j) All calculations with respect to the number of Warrant Shares will be made to the nearest
one-thousandth of a share and all calculations with respect to the Warrant Price will be to the nearest whole cent. If the Company distributed to holders of its Common Stock, as such, securities of another person, evidences of indebtedness issued by
the Company or 

  
 7 

 
any other person, assets (excluding cash dividends) of the Company or any other person, or any rights, options or warrants to purchase any of the foregoing (excluding dividends in
Section 3(b)), then the Company shall issue or distribute to each Holder the securities, evidences of indebtedness, assets, rights, options or warrants that such Holder would have been entitled to receive had the Warrants been exercised prior
to the happening of such event or the record date with respect thereto. No adjustment in the number of Warrant Shares purchasable upon the exercise of a Warrant will be made on account of (i) any issuance of shares of Common Stock upon the
exercise of options, rights or warrants or upon the conversion or exchange of convertible or exchangeable securities, outstanding as of the date hereof, (ii) any issuance of shares of Common Stock, or of options, rights or warrants, or of other
securities, pursuant to a share purchase rights plan or any similar plan adopted by the Board, (iii) any issuance of shares of Common Stock, or of options, rights or warrants to purchase, or securities convertible into or exchangeable for,
shares of Common Stock, in accordance with any plan for the benefit of the employees or directors of the Company existing as of the date hereof or any other plan hereafter adopted by the Board for the benefit of the employees or directors of the
Company or any of its subsidiaries, and (iv) any issuance of shares of Common Stock in connection with a Company-sponsored plan for reinvestment of dividends or interest. 
 (k) Within three Business Days after each adjustment pursuant to this Section 3, the Company shall deliver a certificate signed by its chief financial officer or executive officer setting forth, in
reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such adjustment was calculated, and the Warrant Price and number of Warrant Shares purchasable hereunder after giving effect to such adjustment.

 Section 4. Transfer Taxes. The Company will pay any documentary stamp taxes attributable to the initial issuance of
Warrant Shares issuable upon the exercise of the Warrant; provided, however, that the Company shall not be required to pay any tax or taxes which may be payable in respect of any transfer involved in the issuance or delivery of any
certificates for Warrant Shares in a name other than that of the registered holder of this Warrant, and in such case, the Company shall not be required to issue or deliver any certificate for Warrant Shares or any Warrant until the person requesting
the same has paid to the Company the amount of such tax or has established to the Company’s reasonable satisfaction that such tax has been paid. 
 Section 5. Mutilated or Missing Warrants. In case this Warrant shall be mutilated, lost, stolen, or destroyed, the Company shall issue in exchange and substitution for and upon cancellation of the
mutilated Warrant, or in lieu of and substitution for the Warrant mutilated, lost, stolen or destroyed, a new Warrant of like tenor and for the purchase of a like number of Warrant Shares, but only upon receipt of evidence reasonably satisfactory to
the Company of such loss, theft or destruction of the Warrant, and with respect to a mutilated, lost, stolen or destroyed Warrant, reasonable indemnity or bond with respect thereto, if requested by the Company. 

Section 6. Fractional Shares. No fractional shares of Common Stock shall be issued in connection with any exercise hereunder, and
in lieu of any such fractional shares, the Company shall make a cash payment therefor to the Holder (or such other person or persons as directed by the Holder) based on the Fair Market Value of a share of Common Stock on the date of exercise of this
Warrant. 

  
 8 

 Section 7. Compliance with Securities Act and Legends. The Holder, by acceptance
hereof, agrees that this Warrant and the Warrant Shares are being acquired for investment. All shares of Common Stock issued upon exercise of this Warrant (unless registered under the Securities Act of 1933, as amended, or transferable without
registration pursuant to the terms of such act or the rules and regulations promulgated thereunder) shall be stamped or imprinted with a legend as follows: 
 THIS SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY OTHER SECURITIES LAWS AND MAY NOT BE OFFERED FOR SALE,
SOLD, DELIVERED AFTER SALE, TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF (1) AN EFFECTIVE REGISTRATION STATEMENT COVERING THESE SECURITIES UNDER THE ACT AND ANY OTHER APPLICABLE SECURITIES LAWS OR (2) AN OPINION OF COUNSEL
REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED. 
 Section 8. Rights as Stockholders;
Information. Except as expressly provided in this Warrant, no Holder, as such, shall be entitled to vote or receive dividends or be deemed the holder of Common Stock or any other securities of the Company which may at any time be issuable on the
exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon the Holder, as such, any of the rights of a shareholder of the Company or any right to vote for the election of the directors or upon any matter
submitted to shareholders at any meeting thereof, or to receive notice of meetings, until this Warrant shall have been exercised and the Warrant Shares purchasable upon the exercise hereof shall have become deliverable, as provided herein;
provided, however, that if, at any time prior to the Expiration Time any of the following events occur: 
 (a) The
Company declares any dividend payable in any securities upon its shares of Common Stock or makes any distribution (other than a regular cash dividend or cash distributions payable out of surplus or net profits legally available therefor) to the
holders of its shares of Common Stock; 
 (b) The Company offers to the holders of its Common Stock any shares of capital stock
of the Company or any Subsidiary or securities convertible into or exchangeable for shares of capital stock of the Company or any Subsidiary or any option, right or warrant to subscribe for or purchase any thereof; 

(c) The Company distributes to the holders of its Common Stock evidences of indebtedness or assets of the Company or any Subsidiary;

 (d) Any reclassification of the Common Stock, any consolidation of the Company with or merger of the Company into another
corporation, any sale, transfer or lease to another corporation of all or substantially all the property of the Company, or any proposal of the Company to effect any of the foregoing transactions that has been publicly announced by the Company; or

  
 9 

 (e) Any proposal by the Company to effect a dissolution, liquidation or winding up of the
Company that has been publicly announced by the Company; 
 then in any one or more of such events the Company will give notice of such event to
the Holder, such giving of notice to be completed at least 10 calendar days prior to the date fixed as a record date or the date of closing the transfer books for the determination of the shareholders entitled to such dividend, distribution or
subscription rights, or for the determination of shareholders entitled to vote on such proposed reclassification, consolidation, merger, sale, transfer or lease, dissolution, liquidation or winding up; provided, however, that no such
notice will be required in respect of any of the matters referred to in the last sentence of Section 3(j) unless such matter causes an adjustment of the Conversion Price of the Series A Convertible Preferred Stock of the Company. Such notice
will specify such record date or the date of closing the transfer books, as the case may be, for such event. 
 Section 9.
Issuance Limitation. Notwithstanding anything to the contrary contained herein, until the Company obtains the requisite shareholder approval (the “Approval”) under NASDAQ Corporate Governance Rule 5635 (the “Issuance
Limitation”), under no circumstances will the number of shares of Common Stock issued upon any exercise of this Warrant, when aggregated with the number of shares of Common Stock, if any, previously issued upon conversion of the Series A
Convertible Preferred Stock, upon prior exercise of this Warrant and upon the exercise of any other warrant issued pursuant to the Securities Purchase Agreement between the Company and JCH Crenshaw Holdings, LLC, dated as of April 13, 2012,
exceed 19.99% of the number of shares of Common Stock outstanding immediately prior to the issuance of this Warrant (as adjusted for any stock dividend, stock split, stock combination, reclassification or similar transaction). Immediately after the
Approval is obtained, the Issuance Limitation under this Section 9 shall no longer apply. At any time that the Issuance Limitation applies, the number of shares of Common Stock for which this Warrant may be exercised shall be limited to the
maximum number of shares of Common Stock that would not require the Approval to have been obtained. The Company shall use its commercially reasonable efforts to obtain the Approval as soon as reasonably practicable after the issuance of this
Warrant. 
 Section 10. Modification and Waiver. This Warrant and any provision hereof may be changed, waived, discharged
or terminated only by an instrument in writing signed by the Company and the then current Holder, and such change, waiver, discharge or termination shall be binding on all future Holders. 

Section 11. Notices. Any notices or other communications required or permitted hereunder shall be in writing and be deemed to have
been given if mailed, three Business Days after being deposited in the United States mail, postage prepaid and registered or certified, to the Holder at its address as shown on the books of the Company or to the Company at the address indicated
therefor on the signature page of this Warrant. Any party hereto may change its address for purposes of this Section 10 by giving the other party written notice of the new address and it is the obligation of any then current Holder of this
Warrant to advise the Company of any changes in its address. 

  
 10 

 Section 12. Descriptive Headings. The descriptive headings contained in this Warrant
are inserted for convenience only and do not constitute a part of this Warrant. 
 Section 13. Governing Law. The
validity, interpretation and performance of this Warrant shall be governed by, and construed in accordance with, the laws of the State of Texas applicable to contracts made and to be performed entirely within such State, regardless of the law that
might be applied under principles of conflicts of law. 
 Section 14. Jurisdiction and Venue. The parties (a) hereby
irrevocably and unconditionally submit to the jurisdiction of the state courts of the State of Texas and to the jurisdiction of the United States federal courts located within the State of Texas for the purpose of any suit, action or other
proceeding arising out of or based upon this Warrant, (b) agree not to commence any suit, action or other proceeding arising out of or based upon this Warrant except in the state courts of the State of Texas or the United States federal courts
located within the State of Texas, and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the
above-named courts, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Warrant or the subject matter hereof may not be enforced in or by such court.

 Section 15. Acceptance. Receipt of this Warrant by the Holder hereof shall constitute acceptance of and agreement to
the foregoing terms and conditions. 
 Section 16. Assignment. This Warrant and all rights hereunder (including, without
limitation, any registration rights) are not transferable, in whole or in part, unless such transfer or assignment is in compliance with applicable securities laws and, if so requested by the Company, the Company receives an opinion of counsel, in
form and substance satisfactory to the Company, stating that such transfer or assignment is in compliance with all applicable securities laws. Subject to previous sentence, upon surrender of this Warrant at the principal office of the Company,
together with a written assignment duly executed by the Holder, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such
instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned. 

Section 17. Successors. All the covenants and provisions of this Warrant by or for the benefit of the Company or any Holder hereof
shall bind and inure to the benefit of their respective successors and assigns hereunder. 
 Section 18. Certain Interpretive
Matters. Unless the context otherwise requires, (i) all references to Sections or Appendices are to Sections or Appendices of or to this Warrant, (ii) each term defined in this Warrant has the meaning assigned to it,
(iii) “or” is disjunctive but not necessarily exclusive, and (iv) words in the singular include the plural and vice versa. All references to “$” or dollar amounts are to lawful currency of the United States of
America. 
 [Remainder of Page Intentionally Left Blank] 

  
 11 

 IN WITNESS WHEREOF, the Company has caused this Warrant to be executed on its behalf by one
of its officers thereunto duly authorized. 
  

			
	AMERICAN ELECTRIC TECHNOLOGIES, INC.
		
	By:	 	 /s/ Charles M. Dauber

	Name:	 	Charles M. Dauber
	Title:	 	President
		
	Address:	 	
	
	American Electric Technologies, Inc.
	6410 Long Drive
	Houston, Texas 77087

 SIGNATURE PAGE TO WARRANT 

 APPENDIX A 

Notice of Exercise - Payment in Cash 
  

	To:	American Electric Technologies, Inc. 

 1. The undersigned hereby irrevocably elects to purchase                  shares of Common Stock of American Electric
Technologies, Inc. pursuant to the terms of the attached Warrant, and tenders herewith payment of the purchase price of such shares in full, by cash/certified check/wire transfer (circle one) of the originally executed Warrant. 

2. Please issue a certificate or certificates representing said shares in the name of the undersigned or in such other name or names as
are specified below and deliver said certificate(s) to the address(es) specified below: 
  

	
	  
 (Printed
Name)

	  

	
	  

 3. Please issue a new Warrant or Warrants of equivalent form and tenor for the unexercised portion, if
any, of the attached Warrant in the name of the undersigned or in such other name or names as are specified below and deliver said Warrant(s) to the address(es) specified below: 

 

	
	  
 (Printed
Name)

	  

	
	  

 IN WITNESS WHEREOF, the undersigned has executed this Notice as of the date set forth below. 

 

							
	  
	 		 	Date:	 	  

	(Printed Name of Warrantholder)	 		 		 	

  

							
	By:	 	  

		 	Printed Name:	 	  

		 	Title:	 	  

 APPENDIX A 
 TO WARRANT 

 APPENDIX B 

Notice of Exercise - Net Issuance 
  

	To:	American Electric Technologies, Inc. 

 1. The undersigned hereby elects to purchase                  shares of Common Stock of American Electric Technologies, Inc.
pursuant to the terms of the attached Warrant and tenders herewith payment of the purchase price therefor by surrender of                  shares of Common Stock
issuable pursuant to the attached Warrant. 
 2. Please issue a certificate or certificates representing the shares issuable
upon such net exercise election in the name of the undersigned or in such other name or names as are specified below and deliver said certificate(s) to the address(es) specified below. 

 

	
	  
 (Printed
Name)

	  

	
	  

	(Address)

 3. Please issue a new Warrant or Warrants of equivalent form and tenor for the unexercised portion, if
any, of the attached Warrant in the name of the undersigned or in such other name or names as are specified below and deliver said Warrant(s) to the address(es) specified below: 

 

	
	  
 (Printed
Name)

	  

	
	  

	(Address)

 4. Please remit any cash in lieu of fractional shares payable in connection with this net exercise
election to the undersigned or to such other person as is specified below and deliver said payment to the address specified below: 
  

	
	  
 (Printed
Name)

	  

	
	  

	(Address)

 IN WITNESS WHEREOF, the undersigned has executed this Notice as of the date set forth below. 

 

							
	  
	 		 	Date:	 	  

	(Printed Name of Warrantholder)	 		 		 	

  

							
	By:	 	  

		 	Printed Name:	 	  

		 	Title:	 	  

 APPENDIX B 
 TO WARRANT

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