Common use of Performance Option Clause in Contracts

Performance Option. (A) The Performance Option shall become vested and exercisable as to 100% of the shares subject to such Option on ____________ __ , 20__ provided, however, that the vesting and exercisability of the Performance Option will be accelerated pursuant to the following schedule, if and only to the extent that the Company achieves the applicable annual performance targets for each of the Company’s Fiscal Years ______ through _____ set forth in the schedule attached hereto as Schedule A in respect of which the applicable percentage of the Performance Option may become vested and exercisable (each, an “Annual Performance Target”): Last Day of Fiscal Year 200 25% Last Day of Fiscal Year 200 50% Last Day of Fiscal Year 200 75% Last Day of Fiscal Year 200 90% Last Day of Fiscal Year 200 100% In the event that an Annual Performance Target is not achieved in a particular Fiscal Year (any such year, a “Missed Year”), if and only to the extent that performance of the Company in any subsequent Fiscal Year satisfies the Cumulative Performance Targets (as set forth in Schedule A) applicable to any such subsequent Fiscal Year, then the applicable percentage of the Performance Option that was scheduled to become vested and exercisable in respect of such Missed Year shall become vested and exercisable as of the end of the Fiscal Year in respect of which the Cumulative Performance Targets are achieved. (B) In the event that the Optionee’s employment with the Company terminates for any reason (other than for Cause by the Company) after the end of a particular Fiscal Year but before the Determination Date (as defined below) in respect of such year, if the Annual Performance Targets applicable to such Fiscal Year are determined to have been achieved upon the Determination Date, then the percentage of the Performance Option that would otherwise be vested and exercisable in respect of such prior Fiscal Year in accordance with the schedule set forth in Section 3.1(a)(ii)(A) above shall be deemed to have been vested and exercisable immediately prior to the date of termination of the Optionee’s employment with the Company.

Performance Option. (Ai) The Performance Option shall become vested and exercisable as to 100% of the shares subject to such Option on __________ ___ __ , 20__ provided, however, that the vesting and exercisability of the Performance Option will be accelerated pursuant to the following schedule, if and only to the extent that the Company achieves the applicable annual performance targets for each of the Company’s Xxx Xxxxxxxx’x Fiscal Years ______ through ______ set forth in the schedule attached hereto as Schedule A A, in respect of which the applicable percentage of the Performance Option may become vested and exercisable (each, an “Annual Performance Target”): Last Day of Fiscal Year 200 25% Last Day of Fiscal Year 200 50% Last Day of Fiscal Year 200 75% Last Day of Fiscal Year 200 90% Last Day of Fiscal Year 200 100% In the event that an Annual Performance Target is not achieved in a particular Fiscal Year (any such year, a “Missed Year”), if and only to the extent that performance of the Company in any subsequent Fiscal Year satisfies the Cumulative Performance Targets (as set forth in Schedule A) applicable to any such subsequent Fiscal Year, then the applicable percentage of the Performance Option that was scheduled to become vested and exercisable in respect of such Missed Year shall become vested and exercisable as of the end of the Fiscal Year in respect of which the Cumulative Performance Targets are achieved. (Bii) In the event that the Optionee’s employment with the Company terminates for any reason (other than for Cause by the Company) after the end of a particular Fiscal Year but before the Determination Date (as defined below) in respect of such year, if the Annual Performance Targets applicable to such Fiscal Year are determined to have been achieved upon the Determination Date, then the percentage of the Performance Option that would otherwise be vested and exercisable in respect of such prior Fiscal Year in accordance with the schedule set forth in Section 3.1(a)(ii)(A3.1(a)(i) above shall be deemed to have been vested and exercisable immediately prior to the date of termination of the Optionee’s employment with the Company.

Performance Option. (Ai) The Performance Option shall become vested and exercisable as to 100% of the shares subject to such Option on ____________ __ _, 20___ provided, however, that the vesting and exercisability of the Performance Option will be accelerated pursuant to the following schedule, if and only to the extent that the Company achieves the applicable annual performance targets for each of the Company’s Jostens’ Fiscal Years ______ through _____ set forth in the schedule attached hereto as Schedule A A, in respect of which the applicable percentage of the Performance Option may become vested and exercisable (each, an “Annual Performance Target”): Last Day of Fiscal Year 200 25% Last Day of Fiscal Year 200 50% Last Day of Fiscal Year 200 75% Last Day of Fiscal Year 200 90% Last Day of Fiscal Year 200 100% In the event that an Annual Performance Target is not achieved in a particular Fiscal Year (any such year, a “Missed Year”), if and only to the extent that performance of the Company in any subsequent Fiscal Year satisfies the Cumulative Performance Targets (as set forth in Schedule A) applicable to any such subsequent Fiscal Year, then the applicable percentage of the Performance Option that was scheduled to become vested and exercisable in respect of such Missed Year shall become vested and exercisable as of the end of the Fiscal Year in respect of which the Cumulative Performance Targets are achieved. (Bii) In the event that the Optionee’s employment with the Company terminates for any reason (other than for Cause by the Company) after the end of a particular Fiscal Year but before the Determination Date (as defined below) in respect of such year, if the Annual Performance Targets applicable to such Fiscal Year are determined to have been achieved upon the Determination Date, then the percentage of the Performance Option that would otherwise be vested and exercisable in respect of such prior Fiscal Year in accordance with the schedule set forth in Section 3.1(a)(ii)(A3.1(a)(i) above shall be deemed to have been vested and exercisable immediately prior to the date of termination of the Optionee’s employment with the Company.

Performance Option. (A) The Performance Option shall become vested and exercisable as to 100% of the shares subject to such Option on ____________ __ December 31, 20__ 2012; provided, however, that the vesting and exercisability of the Performance Option will be accelerated pursuant to the following schedule, if and only to the extent that the Company achieves the applicable annual performance targets for each of the Company’s Fiscal Years ______ 2005 through _____ 2009 set forth in the schedule KKR/Xxxxxx Financial Plan attached hereto as Schedule A (the “KKR/R Plan”) in respect of which the applicable percentage of the Performance Option may become vested and exercisable (each, an “Annual Performance Target”): Last Day of Fiscal Year 200 25December 31, 2005 25 % Last Day of Fiscal Year 200 50December 31, 2006 50 % Last Day of Fiscal Year 200 75December 31, 2007 75 % Last Day of Fiscal Year 200 90December 31, 2008 90 % Last Day of Fiscal Year 200 100December 31, 2009 100 % In the event that an Annual Performance Target is not achieved in a particular Fiscal Year (any such year, a “Missed Year”), if and only to the extent that performance of the Company in any subsequent Fiscal Year satisfies the Cumulative Performance Targets (as set forth in Schedule A) applicable to any such subsequent Fiscal Year, then the applicable percentage of the Performance Option that was scheduled to become vested and exercisable in respect of such Missed Year shall become vested and exercisable as of the end of the Fiscal Year in respect of which the Cumulative Performance Targets are achieved. (B) In the event that the Optionee’s employment with the Company terminates for any reason (other than for Cause by the Company) after the end of a particular Fiscal Year but before the Determination Date (as defined below) in respect of such year, if the Annual Performance Targets applicable to such Fiscal Year are determined to have been achieved upon the Determination Date, then the percentage of the Performance Option that would otherwise be vested and exercisable in respect of such prior Fiscal Year in accordance with the schedule set forth in Section 3.1(a)(ii)(A) above shall be deemed to have been vested and exercisable immediately prior to the date of termination of the Optionee’s employment with the Company.

Performance Option. (A) The Performance Option shall become vested and exercisable as with respect to 10020% of the shares subject to of Common Stock underlying such Performance Option on ____________ __ , 20__ provided, however, that at the vesting and exercisability end of each of the Performance Option will be accelerated pursuant to first five Fiscal Years occurring after the following scheduleGrant Date, if and only to the extent that if the Company achieves the Performance Target Value per Fully Diluted Shares targets set forth on Schedule A attached hereto (each, a “Performance Target”) with respect to the applicable annual performance targets for each Fiscal Year; provided that, to the extent the Company makes a distribution to shareholders of the Company’s Company of cash or property which affects the Performance Target Value per Fully Diluted Shares, the Board will adjust the Performance Target to account therefor, and provided further that, following the third Fiscal Years ______ through _____ set forth in Year occurring after the schedule attached hereto as Schedule A in respect of which the applicable percentage of Grant Date, the Performance Option may shall become vested and exercisable with respect to 10% of the shares of Common Stock underlying such Performance Option if the Company achieves (eachx) for the fourth Fiscal Year occurring after the Grant Date, an “Annual 95% of the applicable Performance Target or (y) for the fifth Fiscal Year occurring after the Grant Date, 92.5% of the applicable Performance Target”): Last Day of Fiscal Year 200 25% Last Day of Fiscal Year 200 50% Last Day of Fiscal Year 200 75% Last Day of Fiscal Year 200 90% Last Day of Fiscal Year 200 100% In . Notwithstanding the foregoing, in the event that an Annual a Performance Target is not achieved in a particular Fiscal Year (any such year, a “Missed Year”), if and only to the extent that performance of the Company in any subsequent Fiscal Year satisfies the Cumulative Performance Targets (as set forth in Schedule A) Target applicable to any such subsequent Fiscal Year, then the applicable percentage of the Performance Option that was scheduled to become vested and exercisable in respect of such Missed Year shall become vested and exercisable as of the end of the Fiscal Year in respect of which the Cumulative Performance Targets are Target is achieved. (B) In . Notwithstanding anything herein to the contrary, in the event that the Optionee’s employment with Grant Date occurs in the Company terminates for any reason second six (other than for Cause by 6) months of a Fiscal Year, the Company) after Performance Option shall not be eligible to become vested and exercisable as to the first 20% of the shares of Common Stock underlying such Performance Option until the end of a particular the next full Fiscal Year but before following the Determination Date (as defined below) in respect of such year, if the Annual Performance Targets applicable to such Fiscal Year are determined to have been achieved upon in which the Determination DateGrant Date occurs; provided, then however, that, the percentage Committee, in its sole discretion, may provide that the first 20% of the shares of Common Stock underlying such Performance Option that would otherwise be (or a pro-rata portion thereof) is eligible to become vested and exercisable in respect of such prior the Fiscal Year in accordance with which the schedule set forth in Section 3.1(a)(ii)(A) above shall be deemed to have been vested and exercisable immediately prior to the date of termination of the Optionee’s employment with the CompanyGrant Date occurs.