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Employment Agreement Dated November 19,2004

Effective Date: November 19, 2004
Parties:

AAC Group Holding

Sectors: Consumer Products (Durables)
EXHIBIT 10.21


[LOGO]

AMERICAN ACHIEVEMENT CORPORATION


November 19, 2004


Mr. David Fiore

American Achievement Corporation 7211 Circle S Road

Austin, TX 78745

Re: Employment Agreement Amendment

Dear David:


Reference is made to your employment agreement with the Company, originally dated as of July 13, 1999, as amended and in effect on the date here ...

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