Document:

Amendment to American Greetings Severance Benefits Plan (Officers)

 Exhibit 10(xv) 
 AMENDMENT TO AMERICAN GREETINGS 
 SEVERANCE BENEFITS PLAN (OFFICERS) 
 Amendment to comply with Code Section 409A 
 THIS AMENDMENT (the “Amendment”) to the American Greetings Severance Benefits Plan (Officers) (the “Plan”) is effective as of January 1, 2009. 
 WHEREAS, the Company sponsors the Plan for the benefit of certain executives; 
 WHEREAS, the Company desires to amend the Plan 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; and 
 WHEREAS, the Corporation previously delegated the authority
to adopt amendments to any benefit plan or agreement of the Corporation to incorporate such changes as may be necessary to comply with law, including, without limitation, Code Section 409A, to certain specified officers, including the Senior
Vice President of Human Resources; provided, that no such amendment shall result in a material increase in the liability or payment obligations of the Corporation without prior approval of the Compensation and Management Development Committee of the
Board of Directors of the Corporation. 
 NOW, THEREFORE, the Plan is hereby amended, effective as of January 1, 2009, as follows:

 1.        The Section titled “Method of Payment” is amended in its entirety to read as
follows: 
 “You will receive your severance pay via a monthly direct deposit into the account(s) you currently have designated for
payroll deposits.” 
 2.        A new Section shall be added to the Plan as follows: 

“COMPLIANCE WITH CODE SECTION 409A. Notwithstanding the other provisions of the Plan to the contrary, all provisions of the Plan 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. 
  (a)        Definitions. The terms used
in the Plan 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). 

   (b)         Delay of Payment for Specified
Employees. Notwithstanding any provision of the Plan to the contrary, in the event you are a Specified Employee as of the date of your Separation from Service, any amounts that are subject to Code Section 409A that become payable upon your
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 your Separation from Service. The first payment made to the Specified Employee following the
six-month delay shall be equal to the first six monthly installment payments that would have commenced immediately following the Specified Employee’s Separation from Service if the Specified Employee had not been subject to the required
six-month delay. The delayed payments shall not be adjusted for interest. 
   (c)        Separation from Service. Payments under the Plan that provide for payment upon your 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 Plan 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 Plan 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. 
   (d)        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 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. 
   (e)        Amendment of Inconsistent Provisions. To the extent that any provision of the Plan is inconsistent with the requirements of Code Section 409A and the regulations and
rulings promulgated thereunder, the Plan is hereby amended to delete such inconsistent provisions.” 
 3.          Except as otherwise provided herein, the Plan shall be unaffected by this Amendment. 
  

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 IN WITNESS WHEREOF, the Corporation has adopted this Amendment on the date set forth below.

  

			
	AMERICAN GREETINGS CORPORATION
	
	By          /s/Brian
McGrath                            
	Brian McGrath, Senior Vice President of
	Human Resources
	
	Date:    12-18-09                                 
           

  

 3Amendment to Employment Agreement, effective January 1, 2009 (Michael Goulder)

 Exhibit 10(xxxv) 
 AMENDMENT TO EMPLOYMENT CONTRACT 
 MICHAEL GOULDER 
 Amendment to comply with Code Section 409A 
 THIS AMENDMENT (the “Amendment”) to the terms of employment of Michael Goulder (the “Executive”) with American Greetings Corporation (“American Greetings”), as reflected in the terms of
that certain offer letter dated October 17, 2002 (the “Employment Terms”) is effective as of January 1, 2009. 
 WHEREAS,
the Corporation desires to amend the Employment Terms 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; and

 WHEREAS, the Corporation previously delegated the authority to adopt amendments to any benefit plan or agreement of the Corporation to
incorporate such changes as may be necessary to comply with law, including, without limitation, Code Section 409A, to certain specified officers, including the Senior Vice President of Human Resources; provided, that no such amendment shall
result in a material increase in the liability or payment obligations of the Corporation without prior approval of the Compensation and Management Development Committee of the Board of Directors of the Corporation. 
 NOW, THEREFORE, this Amendment shall amend the Employment Terms as set forth below: 
 1. Effective as of January 1, 2009, a new Section 9 shall be added to the Employment Terms to read as follows: 
 “9.     Compliance with Code Section 409A. Notwithstanding the other provisions set forth in this offer letter, all provisions
of this offer letter and your employment reflected herein 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. 
 (a)      Definitions. The terms used in this offer letter 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). 
 (b)      Delay of Payment for Specified Employees. Notwithstanding any
provision set forth in this offer letter 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 are 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. All payments made under the terms set forth in this offer letter shall be made in installment payments in accordance
with the Corporation’s normal payroll practices. 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. 
 (c)        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 terms set forth in this offer letter, (ii) the amount of expenses eligible for 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. 
 (d)        Amendment of Inconsistent Provisions. To the extent that any provision of the terms set forth
in this offer letter are inconsistent with the requirements of Code Section 409A and the regulations and rulings promulgated thereunder, the terms set forth in this offer letter are 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. 
  

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 3.        Except as otherwise provided herein, the Employment
Terms shall be unaffected by this Amendment. 
 AMERICAN GREETINGS CORPORATION 
  
  

	
	 /s/Brian McGrath

	By: Brian McGrath
	Title: Senior Vice President, Human Resources
	 Date: 112-19-08
  
  

	 /s/Michael Goulder

	Michael Goulder
	Date: 12-23-08

  

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