AMENDMENT TO EMPLOYEE OFFER LETTEREmployment Agreement Amendment |
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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).






