Document:

<PAGE>

                                                                   EXHIBIT 10.36

                              EMPLOYMENT AGREEMENT
                              --------------------

         This agreement (the "Agreement") is made as of August 30, 2000 (the
"Effective Date"), by and between James J. Tinagero (the "Employee") and Maxwell
Shoe Company Inc., a Delaware corporation (the "Company").

         WHEREAS, the Board of Directors of the Company (the "Board") recognizes
the Employee's past and continuing contribution to the growth and success of the
Company and desires to assure the Company of the Employee's continued employment
in an executive capacity and to compensate him therefor; and

         WHEREAS, the Company and the Employee each wishes that this Agreement
supersede and render void that certain Employment Agreement dated as of April
27, 1998 by and between the Company and the Employee, as amended; and

         WHEREAS, the Employee wishes to continue his employment by the Company
and to commit himself to serve the Company on the terms herein provided;

         NOW, THEREFORE, in consideration of the foregoing and of the respective
covenants and agreements of the parties herein contained, the parties hereto
agree as follows:

         1. Position, Responsibilities and Term of Employment.
            --------------------------------------------------

         1.01 Position and Responsibilities. The Employee shall serve as
Executive Vice President of the Company and in such additional management
position(s) as the Chief Executive Officer of the Company shall designate. In
this capacity the Employee shall, subject to the by-laws of the Company and to
the direction of the Chief Executive Officer of the Company, report directly to
and shall have such responsibilities for the Company's business as may be
designated by the Company's Chief Executive Officer. The Employee shall perform
and discharge, faithfully, diligently and to the best of his ability, his duties
and responsibilities hereunder. The Employee shall devote substantially all of
his working time and efforts to the business and affairs of the Company.

         1.02 Term. Subject to the provisions of Sections 1.03, 1.04, 1.05 and
1.06 hereof, the term of this Agreement shall commence on the Effective Date and
shall expire on the third anniversary of the Effective Date.

         1.03 Termination on Account of the Employee's Death. In the event of
the Employee's death during the term of this Agreement, this Agreement shall
terminate except as provided in this Section 1.03. Following the Employee's
death, the beneficiary or beneficiaries indicated below shall be entitled to the
following benefits:

         (a) For a period of six months subsequent to the date of the Employee's
         death, the Company shall continue to pay an amount equal to the
         Employee's Base Salary (as defined in Section 2.01 hereof) to
         Employee's spouse, the Employee's beneficiary, or such other
         beneficiary or beneficiaries as he may later designate (or to his
         estate, if he fails to make such designation) at the salary rate in
         effect on
<PAGE>

         the date of his death, said payments to be made on the same periodic
         dates as salary payments would have been made to the Employee had he
         not died.

         (b) For a period of six months subsequent to the date of the Employee's
         death, the Employee's surviving spouse, if any, shall continue to
         receive all benefits described in Section 2.03 hereof in effect on the
         date of his death. For purposes of determining the amount of such
         benefits, the Employee shall be deemed to have remained in the employ
         of the Company, with an annual salary at the rate in effect on the date
         of his death. In addition, service credits under the benefit plans will
         continue to accrue during such six-month period as if the Employee had
         remained an employee of the Company. If benefits or service credits
         contemplated by the previous two sentences cannot be provided under any
         benefit plan because of a prohibition in the terms of the plan, the
         Company shall pay or provide directly for payment of any benefits which
         would have been payable if the terms of such benefit plan allowed for
         the crediting required by the two previous sentences.

The Employee may change the beneficiary for the purposes of this Section 1.03 by
making a written designation and delivering such designation to the Chairman of
the Board. If the Employee makes more than one such written designation, the
designation last received by the Chairman of the Board before the Employee's
death shall control.

         1.04. Termination for Cause. The Company shall have the right, after
fourteen (14) days' written notice to the Employee, to terminate his employment
for cause. For purposes of this Agreement, cause ("Cause") shall mean (a)
committing fraud, misappropriation or embezzlement in the performance of duties
as an employee of the Company, (b) conviction of a felony involving a crime of
moral turpitude, (c) willful disregard of any written directive of the Board
that is not inconsistent with the Company's Certificate of Incorporation,
by-laws or applicable law, (d) an act of the Employee constituting willful
material breach by the Employee of any material provision of this Agreement or
(e) the Employee willfully engaging in any business activity that materially
conflicts with Employee's duties owed to the Company. Any termination of the
Employee for Cause after a Change of Control occurs (as defined in Section
4.03(a) hereof) must relate to an act or omission of the Employee occurring
after the Change of Control occurs.

         1.05 Termination for Other than Cause. Subject to the provisions of
Section 4 hereof, the Employee's employment may be terminated by either party by
giving thirty (30) days written notice to the other party. If the Employee
terminates his employment, it shall be considered to be a termination of the
Employee's employment by the Company for other than Cause if any of the
following events shall occur: if the Company (a) fails to appoint (or elect) the
Employee to the position or positions listed in Section 1.01 hereof; (b) fails
to comply with the provisions of Section 2 hereof; (c) engages in conduct that,
against the Employee's volition, would cause the Employee to commit fraudulent
acts or would expose the Employee to criminal liability; (d) reduces or attempts
to reduce the Employee's annual compensation (as described in Section 2 hereof);
(e) takes or attempts to take from the Employee a title or an office; (f)
effects or attempts to effect a significant change in the Employee's
responsibilities and/or duties which constitutes a demotion in the judgment of
the Employee (such judgment being exercised in good faith); or (g)

                                       2
<PAGE>

requires the Employee to be regularly based at any office or location that is
more than 50 miles from the Company's current headquarters in Hyde Park
(Boston), MA.

         1.06 Extensions. On the third anniversary of the Effective Date, and on
each subsequent annual anniversary of the Effective Date thereafter, this
Agreement shall be automatically extended for an additional year unless either
party notifies the other in writing more than six months prior to the relevant
anniversary date that this Agreement is no longer to be extended.

         2. Compensation.
            -------------

         2.01 Base Salary. The Base Salary shall be determined by the Company's
Compensation and Stock Option Committee; provided, however, that such Base
Salary shall be paid at an annual rate of not less than $358,312. The Employee's
Base Salary shall be payable in periodic instruments in accordance with the
Company's usual practice for its senior executive officers.

         2.02 Performance Bonus. The Employee shall be eligible to receive an
annual performance bonus (the "Performance Bonus"), the amount of which shall be
determined pursuant to the Company's Senior Management Incentive Plan
established by the Company's Compensation and Stock Option Committee. Any
Performance Bonus earned under this Section 2.02 shall be payable in accordance
with the Company's normal practices with respect to bonus payments made to the
Company's senior executive officers; provided, however, that any such
Performance Bonus shall be paid not later than thirty (30) days after audited
financial statements with respect to the Company's fiscal year during which such
bonus was earned become available.

         2.03 Participation in Benefit Plans. The Employee shall be entitled to
participate in, and receive benefits under, all the Company employee benefit
plans and arrangements in effect on the Effective Date for as long as such plans
and arrangements may remain in effect (including, but not limited to,
participation in any pension and profit-sharing plan adopted by the Company, any
employee stock option plan and all group life, health, dental, disability and
other insurance) or any substitute or additional plans, policies or arrangements
made available in the future to the executives and key management employees of
the Company, subject to and on a basis consistent with the terms, conditions and
overall administration of such plans, policies and arrangements. Nothing paid to
the Employee under any plan, policies or arrangement presently in effect or made
available in the future shall be deemed to be in lieu of other compensation to
the Employee hereunder as described in this Section 2.

         2.04 Vacation Days; Sick Leave. The Employee shall be entitled to
annual vacation time and sick leave without reduction in Base Salary in the same
amount and manner as other senior executive officers of the Company.

         2.05 Expenses. During the term of his employment hereunder, the
Employee shall be entitled to receive prompt reimbursement for all reasonable
expenses incurred by him (in accordance with the policies and procedures
established by the Board for its senior executive

                                       3
<PAGE>

officers) in performing services hereunder, provided that the Employee properly
accounts therefor in accordance with Company policy.

         3. Rights and Obligations Binding on Employee, the Company and its
            ---------------------------------------------------------------
Successor(s).
-------------

         This Agreement and the rights and obligations of the parties hereto
shall bind and inure to the benefit of each of the parties hereto and shall also
bind and inure to the benefit of any successor or successors, or assignee or
assignees, of the Company. Except as to any such successor or assignee of the
Company, neither this Agreement nor any rights, obligations or benefits
hereunder may be assigned by the Company or by the Employee. As used in this
Agreement, a "successor" or "assignee" of the Company shall include but not be
limited to (a) any person or entity succeeding the Company, whether by sale or
exchange of stock or assets, merger, consolidation, recapitalization, or a
reorganization of any kind, including but not limited to all reorganizations
defined in section 368 of the Internal Revenue Code of 1986, as amended (the
"Code"), or (b) any person or entity receiving, directly or indirectly, any
substantial portion of the business, properties or assets of the Company, in any
type of transfer, including, but not limited to, any sale, exchange or other
transfer of any assets of the Company, or any transfer in connection with the
liquidation and/or dissolution of the Company, or the bankruptcy of the Company.
For any such transaction in which the successor or assignee does not succeed to
the obligations of the Company under this Agreement by operation of law, the
Company agrees that it shall be a precondition to the closing of such
transaction that the successor or assignee expressly assume the Company's
obligations under this Agreement. Except as provided in Section 4.03 hereof, the
rights and obligations of the parties to this Agreement shall not be limited in
any way or affected by a Change of Control (as defined in Section 4.03 (a)
hereof).

         4. Consequences of Early Termination of Agreement.
            ------------------------------------------------

         4.01 Termination by the Company Other than for Cause. If the Company
terminates this Agreement other than for Cause (including if the Employee
terminates this Agreement under the circumstances described in the second
sentence of Section 1.05 hereof), then the Employee (or the Employee's
beneficiary designated pursuant to Section 1.03 hereof if the Employee is
deceased at the time of payment) shall continue, throughout the remainder of
what would have been the normal term of this Agreement, to receive such
compensation and benefits as are provided to the Employee pursuant to Section 2
hereof; provided, however, that in no event shall the Employee receive, during
the period beginning with the date of termination of the Employee's employment
and the end of what would have been the normal term of this Agreement, an
aggregate amount of compensation and benefits less than one and one-half (1 1/2)
times the Employee's total compensation (including, for purposes of computing
total compensation under this Section 4.01, the amount of any bonus or employee
benefits accrued during the relevant period) earned during the twelve-month
period immediately preceding the effective date of such termination. The
Employee's right to receive such compensation and benefits shall not be subject
to any obligations on the part of the Employee to perform any work or other
obligations on behalf of the Company, its successor(s) or assignee(s), or to
mitigate his damages; provided, however, that if the Employee actually receives
compensation for services rendered to any person other than the Company, which
services were rendered after the date the Employee was terminated by the Company
and before the date constituting the end of what would have been the normal term
of this Agreement, then the amount of any such compensation

                                       4
<PAGE>

shall be subtracted from the amount otherwise owed to the Employee by the
Company pursuant to this Section 4.01. For the purposes of determining the
amount of benefits to which the Employee shall continue to be entitled pursuant
to Section 2.03 above, the Employee shall be deemed, throughout the period of
his entitlement pursuant to this Section 4.01, to have remained in the employ of
the Company with an annual salary at the rate in effect on the date of his
termination of employment. If continuation of any of the benefits described in
Section 2.03 cannot be provided as contemplated by this Section 4.01 on account
of a prohibition in the terms of a benefit plan, the Company shall pay or
provide directly for payment of any benefits which would have been payable if
the terms of such plan allowed for the crediting anticipated in this Section
4.01.

         4.02 Termination by the Company for Cause. If the Company terminates
this Agreement for Cause, then the Company shall thereafter have no further
obligations or liability to the Employee under this Agreement; provided,
however, that the Employee shall be entitled to receive within thirty (30) days
after the effective date of such termination such compensation and benefits as
are accrued and unpaid on the effective date of such termination.

         4.03 Termination Following Change of Control. If there is a Change of
Control while this Agreement is in effect, the provisions of this Section 4.03
shall apply and shall continue to apply for a two-year period following the
Change of Control, regardless of whether or not this Agreement is terminated. If
during the two-year period following a Change of Control the Employee's
employment is terminated by the Company without Cause, the Employee (or the
Employee's beneficiary designated pursuant to Section 1.03 hereof if the
Employee is deceased at the time of payment) shall receive such compensation as
is provided to the Employee pursuant to subsections (b) and (c) of this Section
4.03.

         (a) For the purposes of this Section 4.03, Change of Control shall mean
         the occurrence of one or more of the following three events:

                  (i) any one beneficial stockholder or affiliated group of
                  beneficial stockholders becomes at any time the beneficial
                  holder of twenty-five percent (25%) or more of the aggregate
                  voting power of the issued and outstanding securities of the
                  Company with rights to vote for the election of directors of
                  the Company;

                  (ii) at any time after any "reorganization" involving the
                  Company, as such term is defined in section 368 of the Code,
                  or any other type of reorganization, recapitalization, merger,
                  consolidation or sale of assets involving the Company, or a
                  contested election of a Company director, or any combination
                  of the foregoing, the individuals who were directors of the
                  Company immediately prior thereto shall cease to constitute a
                  majority of the Board; or

                  (iii) at any time after a tender offer or exchange offer for
                  voting securities of the Company (other than by the Company),
                  the individuals who were directors of the Company immediately
                  prior thereto shall cease to constitute a majority of the
                  Board.

                                       5
<PAGE>

         (b) If the Employee becomes entitled to receive compensation pursuant
         to this Section 4.03, then, in addition to any payments to which the
         Employee is entitled under Section 4.01 hereof, the Employee shall
         receive within thirty (30) days of the termination of his employment a
         lump-sum payment equal to three (3) times the Employee's average annual
         total compensation (including, for purposes of computing total
         compensation under this Section 4.03, the amount of any bonus and
         employee benefits accrued during the relevant period) earned during the
         five-year period immediately preceding the effective date of the Change
         of Control or such shorter period during which the Employee may have
         been employed by the Company. In the event that any amount or benefit
         that may be paid or otherwise provided to or in respect of the Employee
         by or on behalf of the Company or any affiliate, whether pursuant to
         this Agreement or otherwise (collectively, "Covered Payments"), is or
         may become subject to the tax imposed under Code Section 4999 ("Excise
         Tax"), the Company will pay to the Employee a "Reimbursement Amount"
         equal to the total of: (A) any Excise Tax on the Covered Payments, plus
         (B) any Federal, state, and local income taxes, employment and excise
         taxes (including the Excise Tax) on the Reimbursement Amount, plus (C)
         the product of any deductions disallowed for Federal, state or local
         income tax purposes because of the inclusion of the Reimbursement
         Amount in the Employee's adjusted gross income multiplied by the
         Employee's combined Federal, state, and local income tax rate for the
         calendar year in which the Reimbursement Amount is includible in the
         Employee's taxable income, plus (D) any interest, penalties or
         additions to tax imposed under applicable law in connection with the
         Excise Tax or the Reimbursement Amount. For purposes of this Section
         4.03(b), the Employee will be deemed to pay (Y) Federal income taxes at
         the highest applicable marginal rate of Federal income taxation
         applicable to individuals for the calendar year in which the
         Reimbursement Amount is includible in the Employee's taxable income and
         (Z) any applicable state and local income taxes at the highest
         applicable marginal rate of taxation applicable to individuals for the
         calendar year in which such Reimbursement Amount is includible in the
         Employee's taxable income, net of the maximum reduction in Federal
         income taxes which could be obtained from the deduction of such state
         or local taxes if paid in such year (determined without regard to
         limitations on deductions based upon the amount of the Employee's
         adjusted gross income). The payment of a Reimbursement Amount under
         this sub-Section 4.03(b) shall not be conditioned upon the Employee's
         termination of employment. Notwithstanding the foregoing provisions of
         this sub-Section 4.03(b), if it shall be determined that, absent this
         sentence, the Employee is entitled to a Reimbursement Amount, but that
         the portion of the Covered Payments that would be treated as "parachute
         payments" under Code Section 280G ("Covered Parachute Payments") does
         not exceed 120% of the greatest amount of Covered Parachute Payments
         that could be paid to the Employee such that the receipt of such
         Covered Parachute Payments would not give rise to any Excise Tax (the
         "Safe Harbor Amount"), then no Reimbursement Amount shall be paid to
         the Employee (unless for any reason Employee is determined to be
         subject to the Excise Tax after application of the balance of this
         sentence) and the Covered Parachute Payments payable under this

                                       6
<PAGE>

         Agreement shall be reduced so that the Covered Parachute Payments, in
         the aggregate, are reduced to the Safe Harbor Amount. For purposes of
         reducing the Covered Parachute Payments to the Safe Harbor Amount, only
         amounts payable under this Agreement shall be reduced. If the reduction
         of the amounts payable under this Agreement would not result in a
         reduction of the Covered Parachute Payments to the Safe Harbor Amount,
         no amounts payable under this Agreement or otherwise shall be reduced
         pursuant to this Section 4.03(b). The Company shall notify the Employee
         of any intent to reduce the amount of any Covered Payments in
         accordance with this sub-Section 4.03(b) (which notice, if practicable,
         shall be given prior to the occurrence of an event that would give rise
         to a Covered Parachute Payment), and Employee shall have the right to
         designate which of the Covered Payments shall be reduced and to what
         extent, provided that the Employee may not so elect to the extent that,
         in the determination of counsel to the Company, such election would
         cause the Employee to be subject to the Excise Tax.

         (c) If during the two-year period following a Change of Control the
         Employee's employment is terminated by the Company without Cause, for
         three years after the termination date, or such longer period as may be
         provided by the terms of the appropriate plan, program, practice or
         policy, the Company shall continue benefits to the Employee and/or the
         Employee's family at least equal to those which would have been
         provided to them in accordance with the welfare benefit plans,
         practices, policies and programs provided by the Company and its
         affiliated companies (including, without limitation, medical,
         prescription, dental, disability, salary continuance, employee life,
         group life, accidental death and travel accident insurance plans and
         programs) if the Employee's employment had not been terminated (and at
         a cost to the Employee no greater than the cost to the Employee under
         such plans, programs, practices and policies) or, if more favorable to
         the Employee, as in effect generally at any time thereafter with
         respect to other peer employees of the Company and its affiliated
         companies, but in no event shall such plans, practices, policies and
         programs provide the Employee with benefits which are less favorable,
         in the aggregate, than the most favorable of such plans, practices,
         policies and programs in effect for the Employee at the time of a
         Change of Control; provided, however, that if the Employee becomes
         re-employed with another employer and is eligible to receive medical or
         other welfare benefits under another employer-provided plan, the
         medical and other welfare benefits described herein shall be secondary
         to those provided under such other plan during such applicable period
         of eligibility.

         4.04 Other Terminations. If the Employee terminates his employment
under this Agreement under such circumstances as would not cause the Employee to
be deemed to be terminated by the Company for other than Cause as provided in
the second sentence of section 1.05 hereof, and Section 4.03 does not apply to
such termination, then the Employee shall be entitled to receive within thirty
(30) days after the effective date of such termination such compensation and
benefits as are accrued and unpaid on the effective date of such termination,
and neither party to this Agreement shall thereafter have any further liability
to the other under this Agreement.

                                       7
<PAGE>

         5. Miscellaneous.
            ---------------

         5.01 Governing Law. This Agreement shall be construed in accordance
with and governed for all purposes by the laws of The Commonwealth of
Massachusetts.

         5.02 Interpretation. In case any one or more of the provisions
contained in this Agreement shall, for any reason, be held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality or
unenforceability shall not affect any other provisions of this Agreement, but
this Agreement shall be construed as if such invalid, illegal or unenforceable
provision had never been contained herein.

         5.03 Legal Fees. Any legal expenses incurred by either party to this
Agreement in enforcing its rights hereunder (including any legal expenses
incurred with respect to any arbitration proceeding pursuant to Section 5.04
hereof) shall be borne and paid solely by such party. Notwithstanding the
foregoing or anything to the contrary contained in this Agreement, no provision
of this Agreement shall be construed as a limitation on or waiver of any rights
that one party to this Agreement may have to be reimbursed by the other party to
this Agreement for such first party's attorneys' fees pursuant to any statute or
other applicable law.

         5.04 Arbitration of Disputes. Any controversy or claim arising out of,
or relating to, any provision of this Agreement shall be settled by binding
arbitration in accordance with the laws of The Commonwealth of Massachusetts by
three arbitrators, one of whom shall be appointed by the Company, one by the
Employee, and the third by the first two arbitrators. If the first two
arbitrators cannot agree on the appointment of a third arbitrator, then the
third arbitrator shall be appointed by the American Arbitration Association in
the City of Boston. Such arbitration shall be conducted in the City of Boston in
accordance with the rules of the American Arbitration Association, except with
respect to the selection of arbitrators, which shall be as provided in this
Section 5.04. Judgment on the award rendered by the arbitrators may be entered
in any court having jurisdiction thereof.

         5.05 Notices. Any notice required or permitted to be given hereunder
shall be effective when received and shall be sufficient if in writing and if
personally delivered or sent by certified or registered mail, return receipt
requested, to the party to receive such notice at its address set forth below or
at such other address as a party may by notice specify to the other.

         If to the Company:               If to the Employee:

         Maxwell Shoe Company Inc.        James J. Tinagero
         101 Sprague Street               790 Boylston Street, Apt. 23B
         P.O. Box 37                      Boston, MA  02199
         Readville (Boston), MA  02137

         Attn:  Mark J. Cocozza,
         Chairman

         With a copy to:

         Jonathan K. Layne, Esq.

                                       8
<PAGE>

         Gibson, Dunn & Crutcher LLP
         333 South Grand Avenue
         Los Angeles, CA  90071

         5.06 Confidential Information. The Employee will not disclose to any
other person or entity (except as required by applicable law or in connection
with the performance of his responsibilities hereunder), or use for his own
benefit, any confidential information of the Company obtained by him incident to
his employment with the Company. The term "confidential information" includes,
without limitation, financial information, business plans, prospects and
opportunities which have been discussed or considered by the Company's
management but does not include any information which has become public other
than on account of the Employee's failure to comply with the provisions of this
Section 5.06.

         5.07 Non-Competition. The Employee agrees that, for a period of twelve
(12) months following the date of termination of this Agreement (other than a
termination that results solely from the expiration of the initial or extended
normal term of this Agreement contemplated by Sections 1.02 and 1.06 hereof), he
will not directly or indirectly own, manage, operate, control or participate in
the ownership, management, operation or control of, or be connected as an
officer, employee, partner, director or otherwise with, or have any financial
interest in, or aid or assist anyone else in the conduct of, or solicit any
employees of the Company on behalf of, any entity or business which competes
directly with the footwear or retail businesses conducted by the Company or by
any group, division or subsidiary of the Company, in any area where such
business is being conducted or is proposed to be conducted at such date of
termination; provided, however, that this provision shall not apply if this
Agreement is terminated as provided in the parenthetical phrase set forth above
in this sentence. It is understood and agreed that, for the purposes of the
foregoing provisions of this Section 5.07, (i) no business shall be deemed to be
a business conducted by the Company, or any group, division or subsidiary of the
Company, unless not less than five percent (5%) of the Company's consolidated
gross sales or operating revenues is derived from, or not less than five percent
(5%) of the Company's consolidated assets is devoted to, such business; and (ii)
no business conducted by any entity by which the Employee is employed or in
which he is interested or with which he is connected or associated shall be
deemed competitive with any business conducted by the Company unless it is one
from which five percent (5%) or more of its consolidated gross sales or
operating revenues is derived, or to which five percent (5%) or more of its
consolidated assets is devoted; provided, however, that if the actual gross
sales or operating revenues or assets of such entity derived from or devoted to
such business is equal to or in excess of ten percent (10%) of the most nearly
comparable figure for the Company, such business of such entity shall be deemed,
to be competitive with a business of the Company. Furthermore, ownership of five
percent (5%) or less of the voting stock of any publicly held corporation shall
not constitute a violation of this Section 5.07.

         5.08 Amendment and Waiver. This Agreement may not be amended,
supplemented or waived except by a writing signed by the party against which
such amendment, supplement or waiver is to be enforced. The waiver by any party
of a breach of any provision of this Agreement shall not operate to waive, or be
construed as a waiver of, any other breach of that provision nor as a waiver of
any breach of another provision.

                                       9
<PAGE>

         5.09 Binding Effect. Subject to the provisions of Section 3 hereof,
this Agreement shall be binding on the successors and assigns of the parties
hereto.

         5.10 Other Agreements. This Agreement supersedes and renders void the
terms of any previously executed employment agreements, including but not
limited to that certain Employment Agreement dated April 27, 1998 between the
Company and the Employee, as amended, and/or compensation agreements between the
parties, which shall no longer be considered to have any force or effect.

         5.11 Counterparts. This Agreement may be executed in two counterparts,
each of which is an original but which shall together constitute one and the
same instrument.

         Upon execution below by both parties, this Agreement will enter into
full force and effect as of August 30, 2000.

MAXWELL SHOE COMPANY INC.                     THE EMPLOYEE

By:          /s/Mark J. Cocozza                   /s/James J. Tinagero
     ------------------------------------     -------------------------------
               Mark J. Cocozza                      James J. Tinagero
     Chairman and Chief Executive Officer

                                       10<PAGE>

                                                                  Exhibit 10(F)

                       PIMCO FUNDS: MULTI-MANAGER SERIES

                     AMENDED AND RESTATED MULTI-CLASS PLAN

        Pursuant to Rule 18f-3 under the Investment Company Act of 1940
        ---------------------------------------------------------------

                         Effective Date March 5, 1998
                          as revised December 7, 2000

     WHEREAS, the Board of Trustees of PIMCO Funds: Multi-Manager Series (the
"Trust") have considered the following Amended and Restated Multi-Class Plan
(the "Plan") under which the Trust may offer multiple classes of shares of its
now existing and hereafter created series pursuant to Rule 18f-3 under the
Investment Company Act of 1940, as amended (the "1940 Act");

     WHEREAS, a majority of the Trustees of the Trust and a majority of the
Trustees who are not interested persons of the Trust ("Independent Trustees")
have found the Plan, as proposed, to be in the best interests of each class of
shares of the Trust individually and the Trust as a whole; and

     WHEREAS, the Board of Trustees of the Trust desires to revise the Plan to
incorporate new series of the Trust and to make other updating and conforming
changes;

     NOW, THEREFORE, the Trust hereby approves and adopts the following revised
Plan pursuant to Rule 18f-3 under the 1940 Act.

1.   FEATURES OF THE CLASSES

     Each now existing and hereafter created series (each a "Fund") of the Trust
is authorized to issue from time to time its shares of beneficial interest in
six classes:  Class A shares, Class B shares, Class C shares, Class D shares,
Institutional Class shares and Administrative Class shares.  Each class is
subject to such investment minimums and other conditions of eligibility as are
set forth in the Trust's prospectus(es) as from time to time in effect (together
with the Trust's statement(s) of additional information as from time to time in
effect, the "Prospectus").  Each Fund may offer such classes of shares to such
classes of persons as are set forth in the Prospectus.

     Shares of each class of a Fund shall represent an equal pro rata interest
in such Fund and, generally, shall have identical voting, dividend, liquidation,
and other rights, preferences,
<PAGE>

powers, restrictions, limitations, qualifications and terms and conditions,
except that: (a) each class shall have a different designation; (b) each class
shall bear any Class Expenses, as defined in Section 4 below; and (c) each class
shall have separate voting rights on any matter submitted to shareholders in
which the interests of one class differ from the interests of any other class,
and shall have exclusive voting rights on any matter submitted to shareholders
that relates solely to that class.

     In addition, Class A, Class B, Class C, Class D, Institutional Class and
Administrative Class shares shall have the features described in Sections 2, 3,
4 and 5 below.  These features are subject to change, to the extent permitted by
law and by the Amended and Restated Agreement and Declaration of Trust and the
Amended and Restated By-laws of the Trust, by action of the Board of Trustees of
the Trust.

2.   SALES CHARGE STRUCTURE

     (a)  Initial Sales Charge.  Class A shares of the Funds are offered at a
public offering price that is equal to their net asset value ("NAV") plus a
sales charge of up to 5.50% of the public offering price (which maximum may be
less for certain Funds, as described in the Prospectus).  The sales charges on
Class A shares are subject to reduction or waiver as permitted by Rule 22d-1
under the 1940 Act, as described in the Prospectus. For example, as of the date
of this Plan, each Fund may waive the Class A sales charge for certain
categories of investors, including current or retired officers, trustees,
directors or employees of the Trust, and for current registered representatives
and other full-time employees of participating brokers.

     Class B, Class C, Class D, Institutional Class and Administrative Class
shares of the Funds are offered at their NAV, without an initial sales charge.

     (b) Contingent Deferred Sales Charge.  A contingent deferred sales charge
(a "CDSC") may be imposed on Class A, Class B or Class C shares under certain
circumstances.  The Trust imposes a CDSC on redemptions of a particular class of
shares of a Fund if the investor redeems an amount which causes the current
value of the investor's account for the Fund to fall below the total dollar
amount of purchase payments subject to the CDSC, except that no CDSC is imposed
if the shares redeemed have been acquired through the reinvestment of dividends
or capital gains distributions or if the amount redeemed is derived from
increases in the value of the account above the amount of purchase payments
subject to a CDSC.  In determining whether a CDSC is payable, it is assumed that
the purchase payment from which the redemption is made is the earliest purchase
payment from which a redemption or exchange has not already been effected.  In
determining whether an amount is available for redemption of a certain class
without incurring a CDSC, the purchase payments made for all shares of that
class in the investor's account with the particular Fund are aggregated, and the
current value of all such shares is aggregated.

                                      -2-
<PAGE>

     Purchases of Class A shares of each Fund of $1 million or more that are
redeemed within eighteen months of their purchase are subject to a CDSC of 1%,
except that the CDSC on Class A shares does not apply to an investor purchasing
$1 million or more of a Fund's Class A shares if such investor is otherwise
eligible (i.e., without regard to the amount of the purchase) to purchase Class
A shares of such Fund without any sales charge.  The conditions for such
eligibility, which may be revised from time to time, are set forth in the
Prospectus.

     Class B shares that are redeemed within 6 years from purchase are subject
to a CDSC of up to 5% of the redemption amount to which the CDSC applies; such
percentage declines, eventually to 0%, the longer the shares are held, as
described in the Prospectus.  As of the date of this Plan, purchases of Class B
shares are subject to a CDSC according to the following schedule:

     Years Since Purchase       Percentage
       Payment was Made            CDSC
------------------------------  -----------

          First....                 5
          Second...                 4
          Third....                 3
          Fourth...                 3
          Fifth....                 2
          Sixth....                 1
          Seventh..                 0*

     * After the seventh year, Class B shares convert into Class A shares as
described below.

     Class C shares are subject to a CDSC of 1% if redeemed within 1 year after
purchase.

     As permitted by Rule 6c-10 under the 1940 Act and as described in the
Prospectus, the CDSC otherwise applicable to Class A, Class B and Class C shares
is subject to reduction or waiver in connection with particular classes of
transactions provided the conditions in Rule 22d-1 under the 1940 Act are
satisfied.  As of the date of this Plan, examples of redemptions for which the
CDSC is not applicable include any partial or complete redemption following
death or disability of a shareholder from an account in which the deceased or
disabled is named, provided the redemption is requested within one year of the
death or initial determination of disability, which applies to all classes, and
any redemption resulting from a return of an excess contribution to a qualified
employer retirement plan or an IRA (with the exception of a Roth IRA), which
applies only to Class A and Class C shares.

     Class D, Institutional Class and Administrative Class shares are not
subject to a CDSC.

                                      -3-
<PAGE>

3.   SERVICE, DISTRIBUTION AND ADMINISTRATIVE FEES

     (a) Service and Distribution Fees. Class A, Class B and Class C shares each
pay PIMCO Funds Distributors LLC (the "Distributor") fees for services rendered
and expenses borne in connection with personal services rendered to shareholders
of the particular class and the maintenance of shareholder accounts ("Service
Fees").  Class A, Class B and Class C shares of each Fund pay a Service Fee of
up to 0.25% per annum of the average daily net assets of such Fund attributable
to such class, as described in the Prospectus.  In addition, Class B and Class C
shares pay the Distributor fees in connection with the distribution of shares of
that class ("Distribution Fees").  Class B and Class C shares of each Fund pay a
Distribution Fee of up to 0.75% per annum of the average daily net assets of
such Fund attributable to the particular class, as described in the Prospectus.
Class A Service Fees and Class B and C Distribution and Service Fees ("12b-1
Fees") are paid pursuant to separate plans adopted for each class pursuant to
Rule 12b-1 under the 1940 Act.

     The Trust has not adopted an administrative services plan or a distribution
plan with respect to Class D shares of the Funds.  However, the Trust's
Administration Agreement (see below), as it applies to Class D shares, has been
adopted in conformity with the requirements of Rule 12b-1 to allow for payment
of up to 0.25% per annum of the Class D administrative fees for activities that
may be deemed to be primarily intended to result in the sale of Class D shares.

     The Trust has not adopted an administrative services plan or a distribution
plan with respect to Institutional Class shares of the Funds.  However,
Institutional Class shares may be offered through certain brokers and financial
intermediaries ("service agents") that have established a shareholder servicing
relationship with the Trust on behalf of their customers. The Trust pays no
compensation to such entities.  Service agents may impose additional or
different conditions on the purchase or redemption of Institutional Class shares
of the Funds and may charge transaction or account fees.  Service agents are
responsible for transmitting to their customers a schedule of any such fees and
conditions.

     The Trust has adopted an administrative services plan (the "Administrative
Services Plan") and a distribution plan (the "Administrative Distribution Plan")
with respect to the Administrative Class shares of the Funds.  Each plan has
been adopted in accordance with the requirements of Rule 12b-1 and will be
administered accordingly, except that shareholders do not have the voting rights
set forth in Rule 12b-1 with respect to the Administrative Services Plan.  Under
the terms of each plan, the Trust is permitted to reimburse, out of the
Administrative Class assets of each Fund, in an amount up to 0.25% on an annual
basis of the average daily net assets of that class, financial intermediaries
that provide services in connection with the distribution of Administrative
Class shares of the Funds (in the case of the Administrative Distribution Plan)
or the administration of plans or programs that use Administrative Class shares
of the Funds as their funding medium (in the case of the Administrative Services
Plan), as described in the Prospectus.  The same entity may not

                                      -4-
<PAGE>

receive both distribution and administrative services fees with respect to the
same Administrative Class assets but, with respect to separate assets, may
receive fees under both the Administrative Services Plan and the Administrative
Distribution Plan.

     (b)  Administrative Fees.  Each class of shares of each Fund pays PIMCO
Advisors L.P. (the "Administrator") fees for administrative services
("Administrative Fees") pursuant to an Administration Agreement with the Trust.
Under the Administration Agreement, the Administrator provides or procures such
services as custody, transfer agency, accounting, legal and printing services.

     Institutional and Administrative Class shares of each of the following
Funds pay Administrative Fees at the following annual rates based on the average
daily net asset value of the Fund attributable in the aggregate to its
Administrative Class and Institutional Class shares:

                                               Fees for Institutional Class
Fund                                          and Administrative Class Shares
----                                          -------------------------------
International, Allianz Select International,                .50%
Allianz Select World, Allianz New Asia,
Allianz Europe Growth, Allianz Emerging
Markets, Structured Emerging Markets and
Tax-Efficient Structured
Emerging Markets Funds

Global Innovation Fund                                      .40%

Equity Income, Value, Renaissance,                          .25%
Growth & Income, Growth, Select
Growth, Select Value, Target, Opportunity,
Innovation, Mega-Cap, Capital Appreciation,
Mid-Cap, Micro-Cap, Small-Cap Value,
Enhanced Equity, Tax-Efficient Equity,
Healthcare Innovation, Internet Innovation,
Telecom Innovation, Electronics Innovation,
Small-Cap Technology, NFJ Equity
Income, NFJ Value and NFJ Value 25 Funds

90/10 Portfolio, 60/40 Portfolio and 30/70                  .15%
Portfolio

                                      -5-
<PAGE>

     Class A, Class B and Class C shares of each of the following Funds pay
Administrative Fees at the following annual rates based on the average daily net
asset value of the Fund attributable in the aggregate to its Class A, Class B
and Class C shares:

                                             Fees for Class A,
Fund                                         B, and C Shares
----                                         ---------------

Allianz Select International,                .70% of first $2.5 billion
Allianz Select World, Allianz New Asia,      .65% of amounts over $2.5 billion
Allianz Europe Growth and
Allianz Emerging Markets Funds

International, Structured Emerging           .65% of first $2.5 billion
Markets and Tax-Efficient Structured         .60% of amounts over $2.5 billion
Emerging Markets Funds

Global Innovation Fund                       .60% of first $2.5 billion
                                             .55% of amounts over $2.5 billion

Growth & Income, Select Value,               .50% of first $2.5 billion
Healthcare Innovation, Internet              .45% of amounts over $2.5 billion
Innovation, Telecom Innovation,
Electronics Innovation and Small-Cap
Technology Funds

Equity Income, Value, Renaissance,           .40% of first $2.5 billion
Growth, Select Growth, Target,               .35% of amounts over $2.5 billion
Opportunity, Innovation, Mega-Cap,
Capital Appreciation, Mid-Cap,
Micro-Cap, Small-Cap Value,
Enhanced Equity and Tax-Efficient
Equity Funds and 90/10 Portfolio, 60/40
Portfolio and 30/70 Portfolio

     Class D shares of each of the following Funds pay Administrative Fees at
the following annual rates based on the average daily net asset value of the
Fund attributable in the aggregate to its Class D shares:

                                      -6-
<PAGE>

Fund                                          Fees for Class D Shares
----                                          -----------------------

Allianz Select International,                          .95%
Allianz Select World, Allianz New Asia,
Allianz Europe Growth and Allianz
Emerging Markets Funds

Global Innovation Fund                                 .85%

Growth & Income, Select Value                          .75%
Healthcare Innovation,
Internet Innovation, Telecom Innovation,
Electronics Innovation and Small-Cap
Technology Funds

Equity Income, Value, Renaissance,                     .65%
Growth, Select Growth, Target,
Opportunity, Innovation, Capital
Appreciation, Mid-Cap, Small-Cap Value
and Tax-Efficient Equity Funds

     The Administrator or an affiliate may pay financial service firms,
including broker-dealers and registered investment advisers, a portion of the
Class D Administrative Fees in return for the firms' services (normally not to
exceed an annual rate of 0.35% of a Fund's average daily net assets attributable
to Class D shares purchased through such firms).  The Administration Agreement
includes a plan for Class D shares which has been adopted in conformity with the
requirements set forth under Rule 12b-1 to allow for the payment of up to 0.25%
per annum of the Class D Administrative Fees for activities that may be deemed
to be primarily intended to result in the sale of Class D shares.

4.   ALLOCATION OF INCOME AND EXPENSES

     (a)  Class A, Class B, Class C and Administrative Class shares pay the
expenses associated with their different distribution and shareholder servicing
arrangements.  All classes pay their respective Administrative Fees.  Each class
of shares may, at the Trustees' discretion, also pay a different share of other
expenses (together with 12b-1 Fees, Administrative Class Fees and Administrative
Fees, "Class Expenses"), not including advisory fees or other expenses related
to the management of the Trust's assets, if these expenses are

                                      -7-
<PAGE>

actually incurred in a different amount by that class, or if the class receives
services of a different kind or to a different degree than other classes.

     (b)  The gross income of each Fund generally shall be allocated to each
class on the basis of net assets. To the extent practicable, certain expenses
(other than Class Expenses as defined above, which shall be allocated more
specifically) shall be subtracted from the gross income on the basis of the net
assets of each class of each Fund. These expenses include:

          (1)  Expenses incurred by the Trust (including, but not limited to,
          fees of Trustees, insurance and legal counsel) not attributable to a
          particular Fund or to a particular class of shares of a Fund
          ("Corporate Level Expenses"); and

          (2)  Expenses incurred by a Fund not attributable to any particular
          class of the Fund's shares (for example, advisory fees, custodial
          fees, or other expenses relating to the management of the Fund's
          assets) ("Fund Expenses").

     Expenses of a Fund shall be apportioned to each class of shares depending
upon the nature of the expense item.  Corporate Level Expenses and Fund Expenses
shall be allocated among the classes of shares based on their relative net asset
values in relation to the net asset value of the Trust.  Approved Class Expenses
shall be allocated to the particular class to which they are attributable.  In
addition, certain expenses may be allocated differently if their method of
imposition changes.  Thus, if a Class Expense can no longer be attributed to a
class, it will be charged to a Fund for allocation among classes, as determined
by the Board of Trustees. Any additional Class Expenses not specifically
identified above which are subsequently identified and determined to be properly
allocated to one class of shares shall not be so allocated until approved by the
Board of Trustees of the Trust in light of the requirements of the 1940 Act and
the Internal Revenue Code of 1986, as amended (the "Code").

     The Trust reserves the right to utilize any other appropriate method to
allocate income and expenses among the classes, including those specified in
Rule 18f-3(c)(1), provided that a majority of the Trustees and a majority of the
Independent Trustees determine that the method is fair to the shareholders of
each class and that the annualized rate of return of each class will generally
differ from that of the other classes only by the expense differentials among
the classes.

5.   EXCHANGE PRIVILEGES

     Subject to any limitations or restrictions from time to time set forth in
the Prospectuses, shareholders may exchange shares of one class of a Fund at net
asset value, without the

                                      -8-
<PAGE>

imposition of any sales charge or CDSC, for shares of the same class offered by
another Fund of the Trust or series of PIMCO Funds: Pacific Investment
Management Series, a registered investment company advised by Pacific Investment
Management Company, provided that the exchange is made in states where the
securities being acquired are properly registered. Institutional Class shares of
a Fund may be exchanged for Administrative Class shares offered by any other
Fund or series of PIMCO Funds: Pacific Investment Management Series which offers
such class of shares, or vice versa, provided that the Institutional Class or
Administrative Class shareholder, as the case may be, meets the eligibility
requirements of the class into which the shareholder seeks to exchange.

     With respect to Class A, Class B and Class C shares subject to a CDSC, if
less than all of an investment is exchanged out of a Fund, any portion of the
investment attributable to capital appreciation and/or reinvested dividends or
capital gains distributions will be exchanged first, and thereafter any portions
exchanged will be from the earliest investment made in the Fund from which the
exchange was made.

6.   CONVERSION FEATURES

     Class B shares of each Fund automatically convert to Class A shares of the
same Fund after they have been held for 7 years, and thereafter are subject to
the lower fees charged to Class A shares.  In this regard, if the Class A
shareholders approve any material increase in expenses allocated to that class
(including 12b-1 Fees) without the approval of the Class B shareholders, the
Trust will establish a new class of shares, into which Class B shares would
convert, on the same terms as those that applied to Class A shares before such
increase.  There are currently no other conversion features among the classes.

7.   DIVIDENDS/DISTRIBUTIONS

     Each Fund pays out as dividends substantially all of its net investment
income (which comes from dividends and interest it receives from its
investments) and net realized short-term capital gains as described in the
Prospectus.

     All dividends and/or distributions will be paid in the form of additional
shares of the class of shares of the Fund to which the dividends and/or
distributions relate or, at the election of the shareholder, of another Fund or
a series of PIMCO Funds: Pacific Investment Management Series at net asset value
of such Fund or series, unless the shareholder elects to receive cash.
Dividends paid by each Fund are calculated in the same manner and at the same
time with respect to each class.

                                      -9-
<PAGE>

8.   WAIVER OR REIMBURSEMENT OF EXPENSES

     Expenses may be waived or reimbursed by any adviser, sub-adviser, principal
underwriter, or other provider of services to the Trust without the prior
approval of the Trust's Trustees.

9.   EFFECTIVENESS OF PLAN

     This Plan shall not take effect until it has been approved by votes of a
majority of both (a) the Trustees of the Trust and (b) the Independent Trustees.
When this Plan takes effect, it shall supersede all previous plans of the Trust
adopted pursuant to Rule 18f-3 under the 1940 Act.

10.  MATERIAL MODIFICATIONS

     This Plan may not be amended to modify materially its terms unless such
amendment is approved in the manner provided for initial approval hereof in
section 9 above.

11.  LIMITATION OF LIABILITY

     The Trustees of the Trust and the shareholders of each Fund shall not be
liable for any obligations of the Trust or any Fund under this Plan, and the
Administrator or any other person, in asserting any rights or claims under this
Plan, shall look only to the assets and property of the Trust or such Funds in
settlement of such rights or claims, and not to any Trustee or shareholder.

                                      -10-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00019-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00019-of-00352.parquet"}]]