Exhibit 10.1


 


Summary of 


October 3, 2007 Stock Option Grants


and Restricted Stock Awards


For Certain Executive Officers


of Bakers Footwear Group, Inc.


 


The following table sets forth the number of options and amount of restricted stock awarded to Peter A. Edison, Mark D. Ianni, Joseph R. Vander Pluym and Stanley K. Tusman on October 3, 2007:


 





	
            Name and Principal Position (1)
 	
            Restricted
Stock
 Awards(2)
 	
            Shares of
 Common Stock
 Underlying
 Options(3)
 
	
            Peter A. Edison
 	
            11,500
 	
            23,000
 
	
            Chairman of the Board, Chief 
 	
             
 	
             
 
	
            Executive Officer & President
 	
             
 	
             
 
	
             
 	
             
 	
             
 
	
            Stanley K. Tusman
 	
            7,500
 	
            15,000
 
	
            Executive Vice President —
 	
             
 	
             
 
	
            Inventory and Information
 	
             
 	
             
 
	
            Management
 	
             
 	
             
 
	
             
 	
             
 	
             
 
	
            Mark D. Ianni
 	
            10,000
 	
            20,000
 
	
            Chief Merchandising Officer
 	
             
 	
             
 
	
             
 	
             
 	
             
 
	
            Joseph R. Vander Pluym
 	
            10,000
 	
            20,000
 
	
            Chief Operations Officer
 	
             
 	
             
 
	
             
 	
             
 	
             
 





 


(1)  Messrs. Edison, Ianni, Vander Pluym and Tusman are each a party to a written employment agreement with the Company and may be a party to other compensation arrangements with the Company that have been filed as exhibits to the Company’s Annual Report on Form 10-K or in other filings with the Securities and Exchange Commission.  Bonuses under the Bakers Footwear Group, Inc. Cash Bonus Plan are determined by the Company’s Compensation Committee.  The Company’s executive officers are also eligible to participate in the Bakers Footwear Group, Inc. 2003 Stock Option Plan, as amended, and the Bakers Footwear Group, Inc. 2005 Incentive Compensation Plan, receive matching employer contributions to the Company’s 401(k) plan, participate in other employee benefit plans and receive other forms of compensation.  The Company also pays premiums on a life insurance policy solely for the
benefit of Mr. Tusman.


 


(2)  
The restricted stock was issued pursuant to the Bakers Footwear Group, Inc. 2005 Incentive Compensation Plan, with the following
terms. The restricted stock fully vests on the fifth anniversary of the grant date, which is October 3, 2012. Restricted stock awards
are generally forfeited if the recipient is terminated, with or without cause, prior to vesting. However, the Compensation Committee
retains the discretion to vest in full, pro-rata, or not at all, restricted stock awards upon death, disability, retirement or
otherwise. Messrs. Edison, Ianni, Vander Pluym and Tusman are entitled to (i) voting rights with respect to all of the restricted
stock awarded, and (ii) cash dividends that may be paid by the Company with respect to all of the restricted stock awarded.



 


(3)  Each of the options was issued pursuant to the Bakers Footwear Group, Inc. 2003 Stock Bonus Plan, as amended, with the following terms.  Each of the options vests in five equal annual installments beginning October 3, 2008.  All such options expire ten years from the date of grant.  Each of the options has an exercise price of $4.52 per share.