Bonus Letter - American Greetings Corp. and Erwin Weiss
CONFIDENTIAL [AMERICAN GREETINGS LOGO]
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DATE: October 4, 2000
TO: Erwin Weiss
SUBJECT: SPECIAL BONUS
In recognition of your leadership in the successful accomplishments of the
Gibson and CPS integration plans, American Greetings will implement the
following special bonus:
ON MARCH 1, 2005, AMERICAN GREETINGS WILL PLACE IN YOUR DEFERRED
COMPENSATION PLAN A SUM OF $250,000.
The only condition I place on the above commitment is that you must be employed
by the company throughout the period ending February 28, 2005. Should you
voluntarily separate for whatever reason prior to February 28, 2005, you will
forfeit the entire $250,000 benefit. Should you be terminated, you will receive
your pro-rata share.
Throughout these years, you will be reviewed annually with every consideration
for merit review commensurate with your annual achievement.
Effective March 1, 2005, we will increase your base compensation by $50,000, and
that base will be used for all future bonus calculations.
I trust the above is consistent with our discussion.
I wish you all the best.
/s/ Morry Weiss
Morry Weiss