Common use of Performance Option Clause in Contracts

Performance Option. (A) The Performance Option shall become vested and exercisable as to 100% of the shares subject to such Option on ____________ __ , 20__ provided, however, that the vesting and exercisability of the Performance Option will be accelerated pursuant to the following schedule, if and only to the extent that the Company achieves the applicable annual performance targets for each of the Company’s Fiscal Years ______ through _____ set forth in the schedule attached hereto as Schedule A in respect of which the applicable percentage of the Performance Option may become vested and exercisable (each, an “Annual Performance Target”): Date Performance Option becomes Vested and Exercisable Cumulative Percentage of Performance Option that is Vested and Exercisable Last Day of Fiscal Year 200 25% Last Day of Fiscal Year 200 50% Last Day of Fiscal Year 200 75% Last Day of Fiscal Year 200 90% Last Day of Fiscal Year 200 100% In the event that an Annual Performance Target is not achieved in a particular Fiscal Year (any such year, a “Missed Year”), if and only to the extent that performance of the Company in any subsequent Fiscal Year satisfies the Cumulative Performance Targets (as set forth in Schedule A) applicable to any such subsequent Fiscal Year, then the applicable percentage of the Performance Option that was scheduled to become vested and exercisable in respect of such Missed Year shall become vested and exercisable as of the end of the Fiscal Year in respect of which the Cumulative Performance Targets are achieved.

Performance Option. (Ai) The Performance Option shall become vested and exercisable as to 100% of the shares subject to such Option on __________ ___ __ , 20__ provided, however, that the vesting and exercisability of the Performance Option will be accelerated pursuant to the following schedule, if and only to the extent that the Company achieves the applicable annual performance targets for each of the Company’s Xxx Xxxxxxxx’x Fiscal Years ______ through ______ set forth in the schedule attached hereto as Schedule A A, in respect of which the applicable percentage of the Performance Option may become vested and exercisable (each, an “Annual Performance Target”): Date Performance Option becomes Vested and Exercisable Cumulative Percentage of Performance Option that is Vested and Exercisable Last Day of Fiscal Year 200 25% Last Day of Fiscal Year 200 50% Last Day of Fiscal Year 200 75% Last Day of Fiscal Year 200 90% Last Day of Fiscal Year 200 100% In the event that an Annual Performance Target is not achieved in a particular Fiscal Year (any such year, a “Missed Year”), if and only to the extent that performance of the Company in any subsequent Fiscal Year satisfies the Cumulative Performance Targets (as set forth in Schedule A) applicable to any such subsequent Fiscal Year, then the applicable percentage of the Performance Option that was scheduled to become vested and exercisable in respect of such Missed Year shall become vested and exercisable as of the end of the Fiscal Year in respect of which the Cumulative Performance Targets are achieved.

Performance Option. (Ai) The Performance Option shall become vested and exercisable as to 100% of the shares subject to such Option on ____________ __ _, 20___ provided, however, that the vesting and exercisability of the Performance Option will be accelerated pursuant to the following schedule, if and only to the extent that the Company achieves the applicable annual performance targets for each of the Company’s Jostens’ Fiscal Years ______ through _____ set forth in the schedule attached hereto as Schedule A A, in respect of which the applicable percentage of the Performance Option may become vested and exercisable (each, an “Annual Performance Target”): Date Performance Option becomes Vested and Exercisable Cumulative Percentage of Performance Option that is Vested and Exercisable Last Day of Fiscal Year 200 25% Last Day of Fiscal Year 200 50% Last Day of Fiscal Year 200 75% Last Day of Fiscal Year 200 90% Last Day of Fiscal Year 200 100% In the event that an Annual Performance Target is not achieved in a particular Fiscal Year (any such year, a “Missed Year”), if and only to the extent that performance of the Company in any subsequent Fiscal Year satisfies the Cumulative Performance Targets (as set forth in Schedule A) applicable to any such subsequent Fiscal Year, then the applicable percentage of the Performance Option that was scheduled to become vested and exercisable in respect of such Missed Year shall become vested and exercisable as of the end of the Fiscal Year in respect of which the Cumulative Performance Targets are achieved.

Performance Option. (Ai) The Performance Option shall become vested exercisable with respect to 20% of the shares of Common Stock subject to such Performance Option in respect of each Fiscal Year (beginning with the 2004 Fiscal Year) upon the achievement by the Company of the Performance Target established in respect of each such Fiscal Year and set forth on Appendix A attached hereto; provided, however, that such Performance Option shall only become exercisable as to 20% of the shares of Common Stock subject to such Performance Option (each such 20% of the shares, a "Tranche") on December 31 of each such Fiscal Year upon the occurrence of the Financial Statement Approval Date applicable to such Fiscal Year so long as either (i) the Optionee remains employed with the Company on the applicable Financial Statement Approval Date or (ii) an Interim Termination Event occurs between such December 31 and the applicable Financial Statement Approval Date. If the Company does not achieve its Performance Target for any given Fiscal Year (a "Missed Year"), the Performance Option shall not become exercisable in respect of such Fiscal Year, as set forth in the immediately preceding sentence; provided, however, that if the Company achieves the Performance Target as established for any Fiscal Year subsequent to a Missed Year, then any prior percentage of the Performance Option (the exercisability of which had not previously occurred) in respect of prior Missed Years shall become exercisable (but only to the extent such Performance Option has not otherwise terminated or become exercisable). Notwithstanding the foregoing, the Performance Option shall become exercisable as to 100% of the shares of Common Stock subject to such Option on ____________ __ , 20__ provided, however, that the vesting and exercisability of the Performance Option will be accelerated pursuant to the following schedule, if and only (to the extent that such Performance Option has not otherwise terminated or become exercisable) on the Company achieves the applicable annual performance targets for each eighth anniversary of the Company’s Fiscal Years ______ through _____ set forth in the schedule attached hereto as Schedule A in respect of which the applicable percentage of the Performance Option may become vested and exercisable (each, an “Annual Performance Target”): Date Performance Option becomes Vested and Exercisable Cumulative Percentage of Performance Option that is Vested and Exercisable Last Day of Fiscal Year 200 25% Last Day of Fiscal Year 200 50% Last Day of Fiscal Year 200 75% Last Day of Fiscal Year 200 90% Last Day of Fiscal Year 200 100% In the event that an Annual Performance Target is not achieved in a particular Fiscal Year (any such year, a “Missed Year”), if and only to the extent that performance of the Company in any subsequent Fiscal Year satisfies the Cumulative Performance Targets (as set forth in Schedule A) applicable to any such subsequent Fiscal Year, then the applicable percentage of the Performance Option that was scheduled to become vested and exercisable in respect of such Missed Year shall become vested and exercisable as of the end of the Fiscal Year in respect of which the Cumulative Performance Targets are achievedGrant Date.

Performance Option. (A) The Performance Option shall become vested and exercisable as to 100% of the shares subject to such Option on ____________ __ December 31, 20__ 2012; provided, however, that the vesting and exercisability of the Performance Option will be accelerated pursuant to the following schedule, if and only to the extent that the Company achieves the applicable annual performance targets for each of the Company’s Fiscal Years ______ 2005 through _____ 2009 set forth in the schedule KKR/Xxxxxx Financial Plan attached hereto as Schedule A (the “KKR/R Plan”) in respect of which the applicable percentage of the Performance Option may become vested and exercisable (each, an “Annual Performance Target”): Date Performance Option becomes Vested and Exercisable Cumulative Percentage of Performance Option that is Vested and Exercisable Last Day of Fiscal Year 200 25December 31, 2005 25 % Last Day of Fiscal Year 200 50December 31, 2006 50 % Last Day of Fiscal Year 200 75December 31, 2007 75 % Last Day of Fiscal Year 200 90December 31, 2008 90 % Last Day of Fiscal Year 200 100December 31, 2009 100 % In the event that an Annual Performance Target is not achieved in a particular Fiscal Year (any such year, a “Missed Year”), if and only to the extent that performance of the Company in any subsequent Fiscal Year satisfies the Cumulative Performance Targets (as set forth in Schedule A) applicable to any such subsequent Fiscal Year, then the applicable percentage of the Performance Option that was scheduled to become vested and exercisable in respect of such Missed Year shall become vested and exercisable as of the end of the Fiscal Year in respect of which the Cumulative Performance Targets are achieved.