EMPLOYMENT AGREEMENT Timothy M. LarsonEmployment Agreement • March 26th, 2008 • Visant Corp • Jewelry, precious metal • New York
This EMPLOYMENT AGREEMENT (the “Agreement”) is dated as of January 7, 2008 (the “Effective Date”) by and between Jostens, Inc. (the “Company”), a wholly owned subsidiary of Visant Corporation (“Visant”) and Timothy M. Larson (the “Executive”).
December 28, 2007 Mr. Michael Bailey Eagan, MN 55122 Re: Separation Agreement Dear Mike:Letter Agreement • March 26th, 2008 • Visant Corp • Jewelry, precious metal • New York
This letter agreement (the “Letter Agreement”) will confirm our agreement regarding your separation from service with Visant Corporation (“VC”) and its direct and indirect subsidiaries, including Jostens, Inc. (“Jostens”) (together with VC, “Visant”). You will separate from employment with Visant, and resign from any officer or director positions you may hold with Visant, effective January 7, 2008 (the “Effective Date of Separation”), so long as your employment is not terminated for Cause by Visant or Jostens prior to such date. Any capitalized terms used but not defined herein will have the meaning set forth in the 2004 Stock Option Plan for Key Employees of Visant Holding Corp. (f/k/a Jostens Holding Corp.) and Its Subsidiaries, that certain Management Stockholder’s Agreement entered into by and between you and Jostens Holding Corp. dated March 17, 2005 (the “Management Stockholder’s Agreement”), and/or those certain Stock Option Agreements entered into by and between you and Visant
March 20, 2008 Mr. Michael Bailey Eagan, MN 55122 Re: Amended and Restated Separation Agreement Dear Mike:Letter Agreement • March 26th, 2008 • Visant Corp • Jewelry, precious metal • New York
This letter agreement (the “Letter Agreement”) will confirm our agreement regarding your separation from service with Visant Corporation (“VC”) and its direct and indirect subsidiaries, including Jostens, Inc. (“Jostens”) (together with VC, “Visant”). This Letter Agreement amends and restates the original copy of this agreement dated December 28, 2007 (the “December 2007 Agreement”), solely for purposes of clarifying the circumstances under which you will be deemed in breach of this Letter Agreement, and addressing the disposition of your equity. Nothing herein modifies the release and waiver of claims given by you pursuant to the December 2007 Agreement (the “Release and Waiver of Claims”). You will separate from employment with Visant, and resign from any officer or director positions you may hold with Visant, effective January 7, 2008 (the “Effective Date of Separation”), so long as your employment is not terminated for by Visant or Jostens for your Breach prior to such date. Any ca
Visant Holding Corp.Separation Agreement • March 26th, 2008 • Visant Corp • Jewelry, precious metal • Delaware
This letter is a follow-up to the separation agreement between Visant Corporation (the “Company”) and you dated December 28, 2007 (as amended by letter agreement dated March 20, 2008, the “Separation Agreement”). This letter agreement confirms Visant Holding Corp.’s (“VHC”) agreement to repurchase your Vested Options (as defined below), subject to the terms and conditions of the Equity Agreements (as defined below) as modified herein. All capitalized terms not defined herein shall have the meanings set forth in the respective Management Stockholders Agreement between VHC and you, dated March 17, 2005 (in the case of the Vested Options granted pursuant to the 2004 Stock Option Plan) (the “Management Stockholders Agreement”) and the Stockholders’ Agreement dated as of July 29, 2003 among Jostens Holding Corp. (nka, Visant Holding Corp.) and the stockholders parties thereto (in the case of the Vested Options granted pursuant to the 2003 Stock Option Plan) (the “2003 Stockholders Agreement
