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                                                                    EXHIBIT 10.1

                        CONFIDENTIAL SEPARATION AGREEMENT
                                       AND
                                 GENERAL RELEASE

     This Confidential Separation Agreement and General Release ("Agreement") is
entered into as of January 18, 2000, between WALLACE COMPUTER SERVICES, INC.
("Wallace") and ROBERT J. CRONIN ("Cronin"). The purpose of this Agreement is to
acknowledge and clarify the understandings and agreements of the parties
relating to Cronin's separation from service with Wallace.

     1. Termination of Employment. Cronin shall resign from all offices,
directorships and fiduciary positions with Wallace, its affiliates and their
respective benefit plans, including, without limitation, from the positions of
Chairman and Chief Executive Officer of Wallace and as a member of Wallace's
Board of Directors, effective as of January 18, 2000 (hereinafter referred to as
the "Termination Date"). Cronin's employment with Wallace shall terminate as of
such date. The parties acknowledge and agree that such resignation by Cronin
shall be deemed to be with Good Reason within the meaning of Paragraph 10(b) of
the Employment Agreement entered into between the parties as of July 1, 1997
(the "Employment Agreement"). Wallace hereby waives notice of that resignation.
The parties further acknowledge and agree that the Termination Date hereunder
shall constitute the Termination Date for purposes of the Employment Agreement.

     2. Obligations of the Parties Under the Employment Agreement, Including
Wallace's Obligations Under Paragraph 10(b) Thereof. The parties acknowledge
their respective obligations under the Employment Agreement, including, without
limitation, Wallace's obligations under Paragraph 10(b) thereof. With regard to
Paragraphs 10(b)(i) and 10(b)(ii) of the Employment Agreement, on January 25,
2000 (being the date determined under Paragraph 15 hereof) (the "Initial Payment
Date"), Wallace shall make payment of the Accrued Obligations as defined in the
Employment Agreement (including, but not limited to, accrued vacation pay) and
Wallace shall make payment of a prorated cash bonus for the fiscal year ending
in 2000 in the amount of $180,000 (being six-twelfths of a target bonus of 60%
of Cronin's base compensation). As regards Paragraph 10(b)(iii) of the
Employment Agreement, the parties agree that in lieu of any payments to which
Cronin would otherwise be entitled thereunder, Wallace shall pay Cronin in a
single lump sum on the Initial Payment Date, the amount of $1,920,000. Under
Paragraph 10(b)(iv) of the Employment Agreement, Wallace shall continue to
provide benefits to Cronin for a period of two (2) years after the Termination
Date, as provided in said Paragraph 10(b)(iv), including, without limitation,
health benefits under Wallace's group health plan. At the termination of said
two-year period, Cronin shall be offered the opportunity to elect continuation
coverage under Wallace's group health plan in accordance with Internal Revenue
Code ("Code") Section 4980B(f), as it or a successor Code section may exist at
such time. With respect to Paragraph 10(b)(vi) of the Employment Agreement,
Cronin agrees to waive his rights to outplacement services thereunder and
Wallace agrees to pay him in lieu thereof $50,000, which Wallace shall pay to
Cronin on the Initial Payment Date.

     3. Uninsured Medical Expenses. In connection with the benefits to which
Cronin is entitled under Paragraph 7(b) of the Employment Agreement (relating to
uninsured Medical

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Expenses), the parties acknowledge and agree that, as of the Termination Date,
Cronin is age 55 and, therefore, the reimbursement or payment of medical
expenses on behalf of Cronin and/or his spouse under said Paragraph 7(b) shall
be limited to an aggregate of $150,000, exclusive of the benefits referred to in
the fourth sentence of Paragraph 2.

     4. Supplemental Retirement Benefit. With respect to Paragraph 7(c) of the
Employment Agreement (relating to Supplemental Retirement Benefit), the parties
further acknowledge and agree that Cronin's Supplemental Retirement Percentage
shall be 27.5%. Such benefits shall be paid not less frequently than monthly in
accordance with Wallace's customary practices; and shall not be reduced by
monthly Social Security Retirement benefits prior to Cronin's Social Security
retirement age.

     5. Equity Compensation. Wallace shall pay any amounts to Cronin to which he
is entitled under Wallace's phantom stock plan in accordance with its terms,
based on the price of Wallace's stock on January 14, 2000, which the parties
agree was $16.25 per share, with the number of shares of phantom stock held by
Cronin to be determined as of the date hereof. Similarly, Cronin shall be
entitled to exercise any stock options in accordance with the terms of any
Wallace stock option plan in which he participates, any applicable award
agreement under such a plan, and the Employment Agreement, with the number of
shares which are subject to such options, and the respective exercise prices, to
be as determined by further written agreement of Cronin and Wallace based upon
their customary records as to stock option awards previously made to Cronin;
provided that, with respect to any and all stock options which are exercisable
and have exercise prices less than $13.00 per share, Cronin shall, in return for
cancellation of all such options on the Termination Date, receive on the Initial
Payment Date a lump sum cash payment from Wallace equal to the excess of (a) the
aggregate amount of $16.25 per share over (b) the aggregate exercise price for
the option, as reflected on the records of Wallace relating to the stock options
as previously reported by Wallace to Cronin; and all of Cronin's other options,
all of which shall be vested as of the Termination Date pursuant to the
Employment Agreement, shall be exercisable for a period of two years after the
Termination Date.

     6. Public Announcements and Non-Disparagement. Cronin and Wallace shall
mutually agree upon the content of any voluntary statements, whether oral or
written, to be made by Cronin or Wallace to any third party or parties regarding
Cronin's termination of employment, including, without limitation, any press
release or other statements to the press, except that this Paragraph 6 shall not
apply to any statements required to be made by reason of law, regulation, or any
judicial or other similar proceeding or order. Cronin and Wallace each hereby
covenant and agree not to make any public or private statements to any third
party, including, without limitation, to any representative of any news
organization, regarding the other party hereto that are intended to, or can
reasonably be expected to, cause such other party's reputation to be damaged in
any material respect.

     7. Payment of Certain Expenses. In addition to any rights which Cronin may
have under Paragraph 13 of the Employment Agreement, Wallace agrees to reimburse
Cronin for reasonable attorney fees incurred in connection with the preparation
of this Agreement and the

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Consulting Agreement between Cronin and Wallace of even date hereof, subject to
a limit of $15,000.

     8. Confidentiality, Records and Nonsolicitation. In addition to his
covenants under Paragraph 8 of the Employment Agreement (relating to
Confidentiality, Records, Nonsolicitation and Enforcement), Cronin further
covenants and agrees that he shall not disclose or discuss, other than with
legal counsel, personal tax or financial advisors, or members of Cronin's
immediate family, either the existence of or any details of this Agreement,
except that which Wallace publicly discloses. Cronin further agrees that,
insofar as he discusses the circumstances of his termination of employment with
anyone other than those parties listed in the previous sentence, he will state
only that he voluntarily retired and that he has agreed with Wallace not to make
any further comment. To the extent Cronin discusses the existence or terms of
this Agreement with any third party as authorized above, Cronin shall inform
such third party of the obligation to maintain confidentiality of all
communications concerning this Agreement and take reasonable and appropriate
efforts to assure such continued confidentiality.

     9. Limitations on Compensation and Benefits. Cronin's benefits under the
Wallace deferred income (capital accumulation) plan shall be paid in accordance
with and in the amounts due under the terms of such plan (i.e., in a single sum
annually no later than January 15 of each relevant year). Except as specifically
provided in the Employment Agreement, as modified, supplemented or liquidated by
this Agreement, or in this Agreement, and except as specifically provided by
Wallace's customary practice for payment of accrued Board of Director's fees,
Cronin hereby waives any and all claims to salary, incentives, payments, or
benefits of any kind.

     10. Mutual Release of Claims.

          (a) Cronin's Release. Except as to the benefits expressly made
available to Cronin hereunder and any accrued vested benefits available to
Cronin under the express terms and conditions of any employee benefit plan
maintained by Wallace or any of its subsidiaries or affiliates, Cronin, as his
free and voluntary act and on behalf of himself, his heirs, administrators,
executors, successors and assigns, hereby releases and discharges Wallace, its
subsidiaries and affiliates and the directors, officers, employees, and agents
of each of them, of and from any and all debts, obligations, claims, demands,
judgments or causes of action of any kind whatsoever in tort, contract, by
statute, or on any other basis for compensatory, punitive or other damages,
expenses, reimbursements or costs of any kind, including but not limited to any
and all claims, demands, rights, and/or causes of action arising out of
allegations relating to a claimed breach of an alleged oral or written contract,
or relating to purported employment discrimination or civil rights violations
(such as, but not limited to, those arising under Title VII of the Civil Rights
Act of 1964 (42 U.S.C. Section 2000e, et seq), the Civil Rights Acts of 1866 and
1871 (42 U.S.C. Sections 1981 and 1983), the Age Discrimination in Employment
Act of 1967 (29 U.S.C. Section 621, et seq.), the Equal Pay Act of 1963 (29
U.S.C. Section 201 et seq.), the Family and Medical Leave Act (29 U.S.C. Section
2691 et seq.), the Americans With Disabilities Act (42 U.S.C. Section 12,101 et
seq.), the Employee Retirement Income Security Act (29 U.S.C. Section 1001 et
seq.), the Illinois Human Rights Act (775 ILCS 5-101 et seq.),

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the Illinois Wage payment and Collection Act (820 ILCS 115/1 et seq.), or any
other applicable federal, state or local law, regulation, ordinance or order)
which he might have or assert against any of said entities or persons (1) by
reason of his active employment by Wallace or the termination of said employment
relationship and all circumstances related thereto, or (2) by reason of any
other matter, cause or thing whatsoever, from the beginning of time to the date
of execution of this Agreement; provided, however, that this Agreement shall not
limit or impair Cronin's right as a former officer and director of Wallace to
indemnification by Wallace to the full extent provided, by the corporate
governing documents or any employee benefit plan of Wallace or under any
director and officer liability insurance policy maintained by Wallace, for any
incumbent or former officer or director of Wallace; and further provided,
however, that Cronin does not release any rights under the Employment Agreement
(including, without limitation, Paragraph 13 thereof) as applicable to post Date
of Termination payments or benefits under the Employment Agreement, as modified,
supplemented or liquidated by this Agreement.

          (b) Wallace's Release. Wallace, on behalf of itself, any predecessors
in interest, whether or not incorporated, its shareholders (in their capacity as
such) and its successors and assigns does hereby irrevocably and unconditionally
release Cronin and his estate, heirs, beneficiaries, executors, personal
representatives or other successors and assigns, from all claims, controversies,
liabilities, demands, causes of action, debts, obligations, promises, acts,
agreements, rights of contribution and/or indemnification, and damages of
whatever kind or nature, whether known or unknown, suspected or unsuspected,
foreseen or unforeseen, liquidated or contingent, actual or potential, joint or
individual, that it or they have had or now have, based on any and all aspects
of Cronin's employment with Wallace or his separation from employment with
Wallace, including but not limited to: all claims arising under the Employment
Agreement; any and all claims for breach of express or implied contracts or the
covenant of good faith and fair dealing (whether written or oral), and any and
all claims for breach of fiduciary duty, breach of promise, detrimental reliance
or tort, whether based on common law or otherwise and any and all claims that
may be asserted on Wallace's behalf by its shareholders or any other third
party. The foregoing list is meant to be illustrative rather than inclusive.
Notwithstanding the foregoing, Wallace does not release any claims that may
hereafter arise.

     11. Validity of Agreement. If any provision, or portion thereof, of this
Agreement is determined to be invalid under any applicable statute or rule of
law, only such provision, and only to the extent determined to be invalid, shall
be deemed omitted from this Agreement, the remainder of which shall remain fully
in force and effect.

     12. Tax Withholding. All payments to Cronin by Wallace under this Agreement
shall be subject to the withholding of any taxes required to be withheld by
federal, state, or local law with respect to any such payment.

     13. Applicable Law. The construction, interpretation and performance of
this Agreement shall be governed by the laws of the State of Illinois without
regard to choice of laws principles.

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     14. Headings. The headings of the paragraphs of this Agreement have been
included solely for convenience of reference and are not to be used in the
interpretation of the provisions of this Agreement.

     15. OWBPA Rights. Cronin understands that, pursuant to the Older Workers
Benefit Protection Act of 1990, he has the right to consult with an attorney
before signing this Agreement, he has twenty-one (21) days to consider this
Agreement before signing it and may revoke the Agreement within seven (7)
calendar days after signing it. Cronin further understands that the Agreement
will not become effective or enforceable until the seven-day revocation period
has expired and that the benefits provided in this Agreement will not be
provided until such period has expired.

     16. Entire Agreement. Subject to the terms of the Consulting Agreement
between Cronin and Wallace of even date herewith, this Agreement constitutes the
entire agreement between Wallace and Cronin with respect to the subject matter
hereof and shall not be amended, modified, or amplified without specific written
provision to that effect, signed by both parties. No oral statement of any
person whosoever shall, in any manner or degree, modify or otherwise affect the
terms and provisions of this Agreement.

     17. Additional Representations. By signing this Agreement, Cronin states
that:

          (a) He has read it and has had sufficient time to consider its terms;

          (b) He understands it and knows that he is giving up important rights;

          (c) He agrees with everything in it;

          (d) He is aware of his right to consult an attorney before signing it,
              and has been so advised; and

          (e) He has signed it knowingly and voluntarily.

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

Attest:                                        WALLACE COMPUTER SERVICES, INC.

                                               By:
---------------------                          -------------------------------
                                               Title:

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Witness:                                    ROBERT J. CRONIN

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                                                                    EXHIBIT 10.4

                              CONSULTING AGREEMENT

         This Agreement is made at Chicago, Illinois this 18th of January, 2000,
between WALLACE COMPUTER SERVICES, INC. ("Wallace") and ROBERT J. CRONIN
("Consultant").

         WHEREAS, Wallace is in the business of print management services,
including eCommerce, distribution logistics, digital asset management, inventory
management, and print organization; and

         WHEREAS, Consultant has most recently been the Chairman and Chief
Executive Officer of Wallace, and otherwise has extensive knowledge and
experience in the print management service business and knowledge of and
relationships with consumers of print management services; and

         WHEREAS, Consultant has decided to retire from his employment with
Wallace; and

         WHEREAS, Wallace and Consultant desire to enter into an agreement under
which Wallace may from time to time call upon and utilize the expertise and
knowledge of Consultant and Consultant will be available to consult with
Wallace;

         NOW, THEREFORE, in consideration of the foregoing premises and mutual
covenants contained herein, Wallace and Consultant hereby agree as follows:

         1. Consulting Services Provided. During the term of this Agreement,
Consultant agrees to make himself available to consult with the directors,
officers, employees and agents of Wallace regarding the business and operations
of Wallace, print management services in general, customer relationships and
contracting, and such other matters within the expertise of Consultant at such
reasonable times and places as Wallace may reasonably request; provided,
however, that Consultant shall not without his prior written consent be required
to provide consulting services on more than five (5) days in any calendar month.

         2. Term of Agreement. The term of this Agreement shall begin on the
date hereof and shall continue for a period of twelve (12) calendar months until
the first anniversary of the date hereof.

         3. Fees and Other Payments. In exchange for Consultant providing the
consulting services set out in Paragraph I above, and for Consultant's other
undertakings herein, Wallace agrees to pay Consultant the sum of $960,000,
payable in a single lump sum on the first anniversary of the date hereof which
is the last day of the term of this Agreement as described in Paragraph 2 above.
Wallace further agrees to reimburse Consultant for reasonable, direct
out-of-pocket expenses (which shall not include overhead or similar expenses)
actually incurred in the performance of his consulting services hereunder, upon
proper substantiation in accordance with Wallace's normal expense reimbursement
procedures.

         4. Confidentiality. Consultant agrees that any and all Confidential
Information is and shall remain the property of Wallace to be held in strict
confidence by Consultant solely for

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Wallace's benefit, and shall not be used or otherwise disclosed to any other
parties at any time, whether during the term of this Agreement or thereafter,
without obtaining Wallace's prior written consent. "Confidential Information"
includes all technical, business and personnel information, or other information
that relates to past, present and future research, development and business
activities of Wallace and its subsidiaries and affiliates (including, without
limitation, customer, client and vendor lists and related information), however
communicated or disclosed to Consultant in the performance of any services for
Wallace. Confidential Information shall not include information that becomes
generally available to the public (other than by acts or omissions of
Consultant).

         5. Wallace Property. Neither this Agreement nor Wallace's disclosure of
Confidential Information shall be considered, by implication or otherwise, to
transfer to Consultant any rights in any trademark, tradename, invention
(whether patentable or not), procedure, data, copyright, trade secret, or any
other intellectual property or other property of Wallace.

         6. Nonsolicitation. Consultant agrees that, during the term of this
Agreement and for one calendar year thereafter, he shall not (a) solicit any
employee of Wallace or any of its subsidiaries to leave the employment thereof
or in any way interfere with the relationship of such employee with Wallace or
its subsidiaries or (b) induce or attempt to induce any customer, supplier,
licensee or other individual, corporation or other business organization having
a business relation with Wallace or its subsidiaries to cease doing business
with Wallace or its subsidiaries or in any way interfere with the relationship
between any such customer, supplier, licensee or other person and Wallace or its
subsidiaries.

         7. Noncompetition.

            (a) Consultant agrees that this Agreement is an exclusive consulting
agreement and that he will not, during the term of this Agreement, directly or
indirectly engage in, or be employed by, or act as a consultant to, or be a
director, officer, owner or partner of, or acquire a substantial interest in,
any business activity or entity which competes significantly with Wallace or any
of its subsidiaries; provided, however, that "significant" competition shall not
include involvement in any line of business that contributes less than five
percent (5%) of the gross revenues of Wallace and its subsidiaries or
contributes less than five percent (5%) of the gross revenues of another
business entity or activity with which Consultant becomes associated. In
particular, but not by way of limitation, Consultant shall not, during the term
of this Agreement, be employed by, or act as a consultant to, or be a director,
officer, owner or partner of, or acquire a substantial interest in, or otherwise
participate in the business of, any of the following companies or their
subsidiaries or affiliates: (i) Moore Corporation Limited; (ii) Reynolds and
Reynolds, (iii) The Standard Register Company; (iv) Mail-Well, Inc.; (v)
Consolidated Graphics, Inc.; (vi) Workflow Management, Inc.; (vii) Quebecor
Inc.; or (viii) Corporate Express, Inc.

            (b) If Consultant desires to be employed by, or otherwise provide
services for, any entity during the term of this Agreement, and is uncertain
whether such employment or the provision of such services might violate
subparagraph (a) above, Consultant may contact the then current Chief Executive
Officer of Wallace in writing by facsimile or overnight courier requesting
approval by Wallace of the proposed employment or the provision of such
services.

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Wallace agrees to respond in writing to any such request for approval as soon as
reasonably practicable, but in no event later than fourteen (14) days from the
date on which such request was sent or mailed. If Consultant receives no written
response from Wallace within such fourteen (14) day period, the approval of
Wallace with respect to the employment or the provision of services for which
approval was requested shall be deemed to have been given and Wallace shall not
thereafter have a right to assert any claim against Consultant under
subparagraph (a) in connection with such employment or the provision of such
services. Wallace further agrees that any request for approval submitted by
Consultant hereunder shall be kept strictly confidential and only employees of
Wallace directly involved in such approval process shall be privy to the
information contained in any such request for approval.

         8. Breaches of Certain Covenants. Consultant expressly acknowledges and
agrees that a breach of either Paragraph 4, 6 or 7 of this Agreement will be
treated as a material breach of this Agreement. Furthermore, any such breach
would not be readily or appropriately compensable in damages, and Consultant
expressly agrees and that each provision, restriction and/or covenant of such
paragraphs shall be enforceable by injunctive relief.

         9. Independent Contractor. Consultant shall be an independent
contractor and not an employee or agent of Wallace for any purpose. Consultant
does not have any right to, and will not attempt to, obligate Wallace to any
third party in any manner and will not act in any manner that might lead a third
party to think that Consultant can obligate Wallace. Consultant shall
specifically state that he is an independent contractor and that he cannot
obligate Wallace.

         10. Employee Benefits. Consultant represents, warrants and agrees that
he shall not be entitled to, and he waives and disclaims any entitlement to, any
employee benefit, compensation or incentive by virtue of this Agreement other
than the payment specifically provided for in Paragraph 3 of this Agreement.

         11. Taxes. Consultant agrees that he shall be exclusively liable for
the payment of all federal and state taxes that may be due as the result of the
compensation paid to him hereunder.

         12. Waiver. Any delay or failure of any party hereto at any time to
require performance by any other party of any provision of this Agreement shall
in no way affect the right of such party to require performance of that or any
other provision of this Agreement and shall not be construed as a waiver of any
subsequent breach of any provision, a waiver of the provision itself, or a
waiver of any other right under this Agreement.

         13. Payment of Certain Expenses. Wallace agrees to pay promptly as
incurred, to the fullest extent permitted by law, all legal fees and expenses
which the Consultant may reasonably incur as a result of any contest by Wallace,
the Consultant or others of the validity or enforceability of, or liability
under, any provision of this Agreement (including as a result of any contest
initiated by the Consultant about the amount of any payment due pursuant to this
Agreement) (together with an additional amount such that after payment by the
Consultant of Consultant's applicable Federal, state and local taxes on such
additional amount, Consultant shall retain an amount equal to the total of
Consultant's applicable Federal, state and local taxes arising due to the
payment of legal fees and expenses under this Section 13), plus in each case
interest on

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any delayed payment at the interest rate applicable from time to time under
Wallace's primary revolving credit agreement, or in the absence of such a rate,
at the applicable federal rate provided for in Section 7872(f)(2)(A) of the
Code; provided, however, that Wallace shall not be obligated to make such
payment of fees and expenses with respect to any contest in which Wallace
prevails over the Consultant.

         14. Amendment. Except as provided in Paragraph 15 hereof, no provision
of this Agreement shall be deemed amended unless such amendment shall be in
writing and signed by the party against whom the amendment is to be enforced.

         15. Entire Agreement. This Agreement constitutes the entire agreement
between the parties with respect to the subject matter hereof, and all prior
agreements, representations, statements, negotiations and undertakings on the
subject matter hereof are superseded hereby.

         16. Invalidity of any Provision. If any one or more of the provisions
of this Agreement should be determined to be invalid, illegal or unenforceable
in any respect under any applicable statute o r rule of law, they s4all be
deemed to be modified to the minimum extent necessary to cure such invalidity,
illegality or unenforceability, and any court is hereby authorized to determine
the extent of such modification and to enforce this Agreement as so modified.

         17. Governing Law. This Agreement shall be construed under and governed
by the internal laws, and not the laws of conflict, of the State of Illinois.

         18. Notice. Unless otherwise specified in this Agreement, any notice or
other communication permitted or required hereunder shall be in writing and
provided to the respective parties as set forth below:

             (a)     If to Consultant to:

                     Mr. Robert J. Cronin
                     603 Ridgewood Court
                     Oak Brook, Illinois 60523

                     with a copy to:

                     Sonnenschein Nath & Rosenthal
                     8000 Sears Tower
                     Chicago, Illinois 60606
                     Attn: Roger C. Siske

             (b)     If to Wallace to:

                     Wallace Computer Services, Inc.
                     2275 Cabot Drive
                     Lisle, Illinois 60532
                     Attn: Corporate Secretary

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Such addresses may be changed by written notice sent to the other party at the
last recorded address of that party.

         IN WITNESS WHEREOF, the parties have caused this Agreement to be duly
executed on the date first set forth above.

Witness:                                       ROBERT J. CRONIN

------------------------------                 ---------------------------------

Attest:                                        WALLACE COMPUTER SERVICES, INC.

------------------------------                 By:
                                                  ------------------------------

                                               Title:
                                                     ---------------------------

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