First Amendment To The Employment Agreement By and Between Commemorative Brands, Inc. And Norm Smith
EXHIBIT 10.16
And
Xxxx Xxxxx
This Agreement amends the agreement between Commemorative Brands, Inc. (the “Company”) and
Xxxx Xxxxx (the “Executive”) captioned Employment Agreement dates as of January 14, 2000, and as
amendment in effect on the date immediately prior to the effective date hereof (the “Employment
Agreement”). All capitalized terms used in this Agreement shall have the meaning ascribed to them
in the Employment Agreement, unless expressly provided herein.
For good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows:
1. | The parties hereto agree that the Executive shall not be bound by the provisions of Section 6.13 of the Agreement and Plan of Merger dated as of December 24, 2003 by and among American Achievement Corporation (“AAC”) AAC Holding Corp, AAC Acquisition Corp. and the stockholders of AAC party hereto; provided that this Section 1 shall in no way affect the obligations of the Executive under the Employment Agreement. | ||
2. | Except as expressly modified herein, the Employment Agreement, and all of its terms and provisions, shall remain unchanged and in full force and effect. This Agreement may be executed in two or more counterparts, each of which shall constitute the same instrument. |
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Intending to be legally bound, the parties have signed this Agreement, to take effect on the
date on which it is signed by the second of the parties.
The Executive: |
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/s/ Xxxxxx X. Xxxxx | ||||
Date: 4-5-04 | ||||
The Company: American Achievement Corporation |
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By: | /s/ Xxx XxXxxxxxxx | |||
Xxx XxXxxxxxxx | ||||
Title: | Director | |||
Date: | 4/9/04 | |||
Acknowledged and agreed with respect to Section 1 AAC Holding Corp. |
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By: | /s/ Xxxxxxx X. Xxxxxxxx | |||
Xxxxxxx X. Xxxxxxxx | ||||
Title: | President | |||
Date: | 4/12/04 | |||