|   | 1.     | Effective      on the date of this Amendment, Section 9.6(a) shall be deleted in its      entirety and replaced by the following:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
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|   |   | “9.6      (a) In the event that during the period commencing 90 days prior to a      Change of Control (as hereinafter defined) and ending 180 days after a      Change of Control, the Executive’s employment with the Company is      terminated by the Company (other than for death, Total Disability or      Cause) or by the resignation of the Executive for Good Reason, the      Executive shall receive in cash, within ten days of the date of      termination or resignation of employment, an amount equal to three (3)      times the average total W-2 compensation received by the Executive      pursuant to Section 4 and Section 7 of this Agreement for the preceding      three-year period ending on the last previous December 31 except that in      lieu of the actual Base Salary component received during such period under      Section 4.1 of this Agreement, there shall be substituted the annual Base      Salary to which the Executive was entitled under Section 4.1 as of the      date of termination or resignation of employment. |
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|   |   | In      the event that any payment (or portion thereof) to you under this Section      9.6(a) is determined to constitute an “excess parachute payment” under      Sections 280G and 4999 of the Internal Revenue Code of 1986, as amended,      the following calculations shall be made:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
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|   |   |           (i)      The after-tax value to the Executive of the payments under Section 9.6(a)      without any reduction; and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
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|   |   |           (ii)      The after-tax value to the Executive of the payments under Paragraph      9.6(a) as reduced to the maximum amount (the “Maximum Amount”) which may      be paid to the Executive without any portion of the payments constituting      an “excess parachute payment”.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
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|   |   | If      after applying the agreed upon calculations set forth above, it is      determined that the after-tax value determined under clause (ii) above is      greater than the after-tax value determined under clause (i) above, the      payments to you under Section 9.6(a) shall be reduced to the Maximum      Amount.”                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

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|   | STEVEN      MADDEN, LTD.     |
|--------|------------------------------|
|   |                         |   |
|   | By:                          | /S/      Awadhesh Sinha |
|   |                         | Awadhesh      Sinha |
|   |                         | Chief      Operating Officer |
|   |                         |   |
|   | /S/      Edward R. Rosenfeld |
|   | Edward      R. Rosenfeld     |

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