Management By Objective Plan
(As amended effective January 1, 2009)
The RR Donnelley Management By Objective Plan (the “Management By Objective Plan” or the “Plan”) is designed to promote
the growth and profitability of RR Donnelley and its subsidiaries with incentives to reward and enhance the retention of eligible
employees. Awards are made depending on the Company’s financial performance and on how well an eligible employee
performs against individual objectives that link to and support RR Donnelley’s strategic and financial priorities.
The Plan is a sub-plan of the R. R. Donnelley & Sons Company 2004 Performance Incentive Plan (the “2004 PIP”) and is subject
to all of the performance conditions established pursuant to the 2004 PIP and the limitations set forth therein. With respect to
participants who are subject to Section 162(m) of the Internal Revenue Code, as amended (the “Code”), to the extent that any
term of the Plan conflicts with the terms of the 2004 PIP, the terms of the 2004 PIP will apply.
The Human Resources Committee of the Board of Directors (the “Committee’) administers the Plan. The Committee has
authority to establish rules and regulations for the Plan’s implementation and administration, including the authority to impose
limitations and conditions, with respect to competitive employment or otherwise, that are not inconsistent with the Plan’s
Eligibility is limited to officers selected by the Committee and other key employees designated in writing annually by the Chief
Human Resources Officer.
TARGET AWARD PERCENTAGE AND PLAN FUNDING
Each eligible participant’s target incentive opportunity under the Management By Objective Plan is a percentage of such
participant’s base salary as of December 31 of the Plan Year, or such other amount as determined by the Committee. This is
referred to as the “Target Award Percentage” and will be communicated to eligible participants annually. Eligible wages do not