Exhibit 10.1
AMENDMENT TO
SENIOR EXECUTIVE EMPLOYMENT AGREEMENT
THIS AMENDMENT TO SENIOR EXECUTIVE EMPLOYMENT AGREEMENT (this "Amendment")
is made as of the 19th day of December, 2007, by and between Deckers Outdoor
Corporation, a Delaware corporation (the "Company"), and Xxxxx Xxx (the
"Executive").
RECITALS
--------
WHEREAS, the Company and Executive are parties to that certain Senior
Executive Employment Agreement dated as of March 6, 2006 (the "Agreement"); and
WHEREAS, in connection with and as a condition to the Company's promotion
of Executive to the position of Chief Operating Officer of the Company, the
Company and Executive have agreed to enter into this Amendment to amend the
Agreement on the terms and conditions set forth herein.
AGREEMENT
---------
NOW, THEREFORE, in consideration of the mutual promises and covenants set
forth herein, the parties hereto agree that the Agreement shall be amended as
follows:
1. Section 1.2. Section 1.2 is hereby amended and restated to read, in
its entirety as follows:
"1.2 POSITION AND RESPONSIBILITIES. The Executive will serve as
Chief Operating Officer, and will report to the Chief Executive Officer and
President. The Executive will continue to serve as Chief Financial Officer
of the Company in an interim basis until the appointment of a Chief
Financial Officer."
2. Section 1.3. Section 1.3 shall be amended and restated to read, in
its entirety, as follows:
"1.3 TERM. The term of the Executive's employment under this
Agreement will commence on the effective date of this Agreement as first
written above and will continue, unless sooner terminated, until
December 31, 2009. Employment of the Executive is at will and will continue
until such time as written notice of termination is given by the Company or
written notice is given by the Executive."
3. Section 2.1. Section 2.1 shall be amended and restated to read, in
its entirety, as follows:
"2.1 BASE SALARY. Effective as of January 1, 2008, the Company
will pay to the Executive an annual base salary of Three Hundred Seventy
Five Thousand Dollars ($375,000) to be paid in equal installments in
accordance with the Company's general payment policies in effect during the
term hereof (the "Base Salary"). Executive's annual base salary may be
reviewed prior to December 31, 2008 and appropriate increases to salary
implemented. If Executive's annual base salary is not revised effective
January 1, 2009, his existing salary will continue on a monthly basis until
changed. This provision does not alter the at-will nature of Executive's
employment or the provisions of Articles III and IV below."
4. No Other Changes. Except as expressly modified by this Amendment, all
terms of the Agreement shall remain in full force and effect.
5. Counterparts. This Amendment may be executed in any number of
counterparts, each of which when so executed and delivered will be deemed an
original and all of which together shall constitute one and the same instrument.
[Signature Page Follows]
IN WITNESS WHEREOF, the parties have executed this Amendment to Senior
Executive Employment Agreement as of the date first above written.
THE COMPANY
DECKERS OUTDOOR CORPORATION
a Delaware corporation
By: /s/ Xxxxx X. Xxxxxxxx
-------------------------------
Its: President and CEO
-------------------------------
EXECUTIVE
/s/ Xxxxx Xxx
------------------------------------
Xxxxx Xxx
