CONFIDENTIAL TREATMENT REQUESTED

EXHIBIT 10.52

CONFIDENTIAL TREATMENT REQUESTED

The portions of this document marked "XXXX" have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.

November 6, 2004

Mr. Herbert Moloney

Vertis, Inc.

250 West Pratt Street, 18⁰’ Floor Baltimore, Maryland 21201

Dear Herb:

As you know, the next few months are expected to be a very challenging time for the Company, and the Board will be relying heavily upon you to help ensure that the Company continues to move forward during this time. It is the goal of each of us that our customers, employees, business partners and other Company constituencies continue to regard Vertis as the premier provider of targeted advertising, media, and marketing services.

In recognition of your efforts and responsibilities under your November 6, 2004 Amendment to your Employment Agreement, the Board has determined that you will be eligible for a special bonus of up to $200,000. The actual amount of the bonus will be determined by the Board based upon your efforts and performance during the next few months in meeting the criteria set forth below, and any special bonus will be determined and paid (less required withholding) within a reasonable time during 2005 as the Board determines. The Board will use the following in determining the amount of the bonus:  (1) whether you have obtained signed agreements or amendments on existing customer agreements or amendments awaiting signature and provided assistance on customer accounts that are in the initial stages of renewal as more specifically described on the following list of customer accounts:

Waiting for signed agreement or amendment: