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AMENDMENT TO EMPLOYEE OFFER LETTER

Employment Agreement Amendment

AMENDMENT TO EMPLOYEE OFFER LETTER You are currently viewing:
This Employment Agreement Amendment involves

AMERICAN GREETINGS CORP

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Title: AMENDMENT TO EMPLOYEE OFFER LETTER
Date: 5/11/2005
Industry: PBLSHG    

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                                                               EXHIBIT 10(xxxvi)

 

                                                     March 11, 2004

 

 

Mr. Tom Johnston

1683 34th Street, N.W.

Washington, D.C.  20007

 

Dear Tom,

 

This letter modifies and amends the employment offer letter to you from me dated

March 4, 2004:

 

     1. We have agreed that you will begin working for us on or about May 1,

        2004;

 

     2. If your employment is terminated by American Greeting for reasons other

        than for cause:

 

        a.  within the first 18 months of your employment with American

            Greetings, you will be granted 24 months of severance pay;

 

        b.  within the second 18 months of your employment with American

            Greetings, you will be granted 18 months of severance pay.

 

        Thereafter, you will be eligible for severance pay as determined by

        your officer employment contract and the policy in effect at that time

        (a copy of our standard employment contract, and our current severance

        policy are enclosed for your reference). Severance pay is defined as

        your base salary, but excluding all incentive plans and benefits,

        (except for health care continuation) in effect at the time of

        termination, and is contingent on your executing a waiver and release.

 

     3. In addition to the housing allowance described in the March 4 letter, we

        will grant you an additional 12 months housing allowance of $2,500 per

        month, net of all applicable taxes;

 

     4. We will pay for (or reimburse you for) the move of your household goods

        from New York to the Cleveland area (we have an arrangement with a

        moving firm - please let us know the timing for this move, and we can

        initiate the necessary arrangements).

 

Note that our employment contract contains a non-disclosure provision (paragraph

6), and a non-compete provision (paragraph 3).

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