Document:

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                                                                    EXHIBIT 10.1

                        AMENDMENT TO EMPLOYMENT AGREEMENT

         THIS AMENDMENT TO EMPLOYMENT AGREEMENT (the "Amendment") is made and
entered into as of this 1st day of October, 2003, by and between Applica
Incorporated, f/k/a Windmere-Durable Holdings, Inc., a Florida corporation (the
"Company"), and Harry D. Schulman, an individual residing in the State of
Florida (the "Executive"). Unless the context requires otherwise, all
capitalized terms used herein without definition shall have the respective
meanings assigned thereto in the Employment Agreement (as defined below).

                              W I T N E S S E T H:

         WHEREAS, the Company and the Executive have entered into that certain
Employment Agreement dated as of August 2, 1999 (as heretofore and hereby
amended, and as further amended, supplemented or restated from time to time, the
"Employment Agreement"); and

         WHEREAS, the Company and the Executive have agreed to amend certain
provisions of the Employment Agreement as more fully set forth herein;

         NOW, THEREFORE, in consideration of the premises, the terms, covenants
and conditions hereinafter appearing, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, and intending to
be legally bound, the parties hereto agree as follows:

         1.       AMENDMENT TO EMPLOYMENT AGREEMENT.

                  (a) Section 3 of the Employment Agreement is hereby deleted
         and the following new Section 3 is inserted in replacement thereof:

                           3. DUTIES. The Executive will have such duties as are
                  assigned or delegated to the Executive by the Board or
                  Chairman of the Company, and will serve as the Chief Executive
                  Officer and President of the Company. The Executive will
                  devote his entire business time, attention, skill, and energy
                  exclusively to the business of the Company and its
                  subsidiaries, will use his best efforts to promote the success
                  of the Company and its subsidiaries, and will cooperate fully
                  with the Board in the advancement of the best interests of the
                  Company and its subsidiaries. The employer of the Executive
                  shall be Applica Consumer Products, Inc., the Company's wholly
                  owned U.S. operating subsidiary.

                  (b) Section 4 of the Employment Agreement is hereby deleted
         and the following new Section 4 is inserted in replacement thereof:

<PAGE>

                  4. COMPENSATION. During the Term, Applica Consumer Products,
         Inc., the Company's wholly owned U.S. operating subsidiary, shall
         compensate Executive as follows:

                            (a) SALARY. Applica Consumer Products, Inc. shall
                  pay Executive an annual salary of $561,811 (the "Annual Base
                  Salary"), to be distributed in equal periodic installments
                  according to the Company's customary payroll practices. The
                  Annual Base Salary will increase progressively for each of the
                  ensuing twelve month periods ("Fiscal Year") during the Term
                  by an amount at least equal to the percentage increase in the
                  United States Consumer Price Index for all urban consumers
                  (CPI-U), U.S. City Average - All Items, published by the
                  Bureau of Labor Statistics, United States Department of Labor
                  (the "Index") for the previous calendar year. If at any time
                  required for the determination of the Annual Base Salary
                  adjustment as above described, the Index is no longer
                  published or issued, the parties shall use such other index as
                  is then generally recognized or accepted for similar
                  determinations of purchasing power. If the parties are unable
                  to agree on the selection of an index which would most
                  accurately carry out the intent hereof, or if there is a
                  dispute with respect to any computations as called for herein,
                  then the issue with respect thereto shall be determined by
                  arbitration according to the then existing rules of the
                  American Arbitration Association. Nothing contained herein
                  shall be construed to prevent the Company from increasing
                  Executive's Annual Base Salary more often than annually or by
                  a higher amount than required by the Index.

                           (b) BONUS. The Executive shall be entitled to receive
                  incentive compensation (the "Incentive Compensation") for each
                  year during the Term, as determined by the Compensation
                  Committee, to be paid in cash, stock or otherwise.

         3. ENTIRE AGREEMENT. This Amendment and the Employment Agreement (as
amended hereby) constitute the entire agreement among the parties hereto and
supersede all prior agreements, understandings, negotiations and discussions,
both written and oral, among the parties and may be modified only in a writing
executed by all parties hereto.

         4. FULL FORCE AND EFFECT OF AGREEMENT. Except as hereby specifically
amended, modified or supplemented, the Employment Agreement is hereby confirmed
and ratified in all respects and shall remain in full force and effect according
to its terms.

         5. GOVERNING LAW. This Amendment shall be construed in accordance with
and governed by the laws of the State of Florida without giving effect to its
choice of law provision.

         6. ENFORCEABILITY. Should any one or more of the provisions of this
Amendment be determined to be illegal or unenforceable as to one or more of the
parties hereto, all other provisions nevertheless shall remain effective and
binding on the parties hereto.

                                       2
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         7. COUNTERPARTS. This Amendment may be executed in any number of
counterparts, each of which shall be deemed to be an original as against any
party whose signature appears thereon, and all of which shall together
constitute one and the same instrument.

         IN WITNESS WHEREOF, the Company, by its appropriate officer, signed
this Amendment and Executive have signed this Amendment as of the day and year
first above written.

                                APPLICA INCORPORATED

                                By:   /s/ DAVID M. FRIEDSON
                                      ----------------------------------------
                                      David M. Friedson, Chairman of the Board
                                EXECUTIVE

                                   /s/ HARRY D. SCHULMAN
                                  --------------------------------------------
                                  Harry D. Schulman, individually

                                       3<PAGE>
                                                                    EXHIBIT 10.2

                       THIRD AMENDMENT TO CREDIT AGREEMENT

         THIS THIRD AMENDMENT TO CREDIT AGREEMENT (this "THIRD AMENDMENT") dated
as of July 18, 2003 is by and among APPLICA INCORPORATED (the "BORROWER"), a
Florida corporation, each of its Subsidiaries identified on the signature pages
hereof, the Lenders identified on the signature pages hereof and BANK OF
AMERICA, N.A., as administrative agent for the Lenders (in such capacity, the
"AGENT"). Terms used herein but not otherwise defined herein shall have the
meanings provided to such terms in the Credit Agreement (as hereinafter
defined).

                               W I T N E S S E T H

         WHEREAS, the Borrower, the Subsidiaries, the Lenders and Bank of
America, N.A., in its capacity as Agent are parties to that certain Credit
Agreement, dated as of December 28, 2001, as amended April 26, 2002 and January
17, 2003 (as further amended, modified, supplemented, extended or restated from
time to time, the "CREDIT AGREEMENT");

         WHEREAS, the parties hereto desire to amend certain terms of the Credit
Agreement as set forth in this Third Amendment;

         NOW, THEREFORE, IN CONSIDERATION of the premises and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

                  1.       The Credit Agreement is hereby amended as follows:

                  (a) by adding to Annex A to the Credit Agreement in the proper
alphabetical location a new definition as follows:

                  "ZONEPERFECT NET PROCEEDS" means at any applicable date, the
         Net Proceeds received by Borrower as a Distribution from Anasazi
         Partners, L.P., a Massachusetts limited partnership ("Anasazi") arising
         from Anasazi's sale of its interest in Zoneperfect Nutrition Company,
         MINUS, without duplication, bonuses or other sums paid or payable by a
         Loan Party with respect to such sale to directors, employees, agents or
         representatives of a Loan Party.

                  (b) by deleting the definition of "Consolidated EBITDA" in
Annex A to the Credit Agreement and restating such definition as follows:

                  "CONSOLIDATED EBITDA" means, with respect to any fiscal period
          of the Borrower, the Adjusted Net Earnings from Operations of the
          Borrower and the other Consolidated Members, MINUS, Zoneperfect Net
          Proceeds to the extent applied to the prepayment of the Debt evidenced

<PAGE>

          by the Senior Subordinated Debt Offering Documents, PLUS, to the
          extent deducted in the determination of Adjusted Net Earnings from
          Operations for that fiscal period, interest expenses, federal, state,
          local and foreign income taxes, depreciation, amortization, call
          premiums paid by Borrower in connection with its prepayment of Debt
          evidenced by the Senior Subordinated Debt Offering Documents, non-cash
          charges arising by reason of "goodwill impairment losses" under FASB
          Statement 142, and, solely for purposes of calculating Consolidated
          EBITDA for any period during the Borrower's 2002 Fiscal Year, those
          costs associated with the Borrower's consolidation of its Shelton,
          Connecticut facility into its Miami Lake, Florida facility that were
          not previously accrued, as determined in accordance with GAAP.

                  (c) by deleting Section 7.14 of the Credit Agreement and by
restating such section as follows:

                  7.14   PREPAYMENT.

                  No Loan Party shall prepay voluntarily any Debt, except (a)
          the Obligations in accordance with the terms of this Agreement, (b) in
          connection with the Refinancing and (c) Debt evidenced by the Senior
          Subordinated Debt Offering Documents (I) during Borrower's 2003 Fiscal
          Year, in an aggregate amount not to exceed $30,000,000 plus the amount
          of Zoneperfect Net Proceeds applied to such Debt in such Fiscal Year
          and (II) during any Fiscal Year thereafter, in an aggregate amount not
          to exceed $15,000,000 plus the amount of the Zoneperfect Proceeds
          applied to such Debt in any such Fiscal Year, if, in each case, (i) no
          Event of Default then exists or would exist after giving effect to any
          such prepayment and (ii) for 30 consecutive days prior to such
          prepayment Availability is not less than $35,000,000 and for 30
          consecutive days immediately after such prepayment Availability is not
          less than $30,000,000.

                  (d) by deleting Section 7.27 of the Credit Agreement and by
restating such section as follows:

                  7.27     MINIMUM EBITDA.

                  If the Loan Parties fail to maintain Availability of at least
         $30,000,000 on any date on or after January 1, 2002 (any date on or
         after January 1, 2002 on which the Loan Parties fail to maintain such
         Availability being hereinafter referred to as the "Trigger Date"), then
         as of the last day of the fiscal quarter in which the Trigger Date
         occurs, the Loan Parties shall not permit Consolidated EBITDA or North
         American EBITDA to be less than the amounts set forth below for the
         test period applicable for the fiscal quarter in which such Trigger
         Date occurs:

                                       2
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<TABLE>
<CAPTION>

                                                        MINIMUM                    MINIMUM NORTH
         PERIOD                                   CONSOLIDATED EBITDA              AMERICAN EBITDA
         ------                                   -------------------              ---------------
<S>                                                   <C>                             <C>
         The Applicable Period ending                 $55,000,000                     $6,500,000
         December 31, 2002 and as of
         the last day of each Fiscal
         Quarter thereafter, in each
         case for the Applicable
         Period then ending
</TABLE>

         Provided that from and after the date on which the Debt evidenced by
         the Senior Subordinated Debt Documents shall have been prepaid by the
         Borrower in an aggregate amount (i) equal to or greater than
         $30,000,000 but less than $60,000,000, the foregoing minimum
         Consolidated EBITDA shall be $53,000,000, or (ii) equal to or greater
         than $60,000,000, the foregoing minimum Consolidated EBITDA shall be
         $50,000,000. If the Loan Parties maintain Availability of at least
         $30,000,000 on each day during any fiscal quarter, the Loan Parties
         shall not be required to satisfy the foregoing Consolidated EBITDA and
         North American EBITDA requirements as of the last day of such fiscal
         quarter.

         2. Notwithstanding the provisions of Sections 3.4 or 3.5 of the Credit
Agreement, the Borrower may apply the Zoneperfect Net Proceeds, no later than 35
days after receipt by a Loan Party, first to the Debt evidenced by the Senior
Subordinated Debt Offering Documents (the "Senior Subordinated Debt") in such
amount as the Borrower may elect and the balance of such proceeds to the
Obligations to the extent thereof; PROVIDED, HOWEVER, that for so long as no
Event of Default exists, the amounts so applied to the Obligations, at the
written request of the Borrower, shall be reserved against Availability and
thereafter may be reborrowed and applied by the Borrower to the repayment of
Senior Subordinated Debt; PROVIDED, FURTHER, HOWEVER, that any amounts so
reserved shall not be deemed to reduce Availability for purposes of Section 7.27
of the Credit Agreement. Notwithstanding the provisions of Section 7.9 of the
Credit Agreement the Borrower may sell or otherwise dispose of its interest in
Anasazi Partners, L.P. without the prior consent of Agent if the Net Proceeds
thereof do not exceed $500,000 and such Net Proceeds are applied to the
Obligations.

         3. The effectiveness of this Third Amendment is subject to the
satisfaction of each of the following conditions (in form and substance
satisfactory to the Agent):

                  (a) The Agent shall have received executed counterparts of
         this Third Amendment duly executed by the Loan Parties, the Agent and
         the Lenders; and

                  (b) The Agent shall have received such additional agreements,
         certificates or documents as it may reasonably request in connection
         with this Third Amendment.

                                       3
<PAGE>

         4. The Borrower and the Guarantors represent and warrant to the Agent
and the Lenders that (i) the representations and warranties of the Loan Parties
set out in Article 6 of the Credit Agreement are true and correct as of the date
hereof (except those which expressly relate to an earlier period), (ii) no event
has occurred and is continuing which constitutes a Default or Event of Default
and (iii) no Loan Party has any counterclaims, offsets, credits or defenses to
the Loan Documents and the performance of its obligations thereunder, or if any
Loan Party has any such claims, counterclaims, offsets, credits or defenses to
the Loan Documents or any transaction related to the Loan Documents, same are
hereby waived, relinquished and released in consideration of the Agent's and the
Lenders' execution and delivery of this Third Amendment.

         5. The Guarantors (i) acknowledge and consent to all of the terms and
conditions of this Third Amendment, (ii) affirm all of their obligations under
the Loan Documents and (iii) agree that this Third Amendment and all documents
executed in connection herewith do not operate to reduce or discharge the
Guarantors' obligations under Article 13 of the Credit Agreement or the other
Loan Documents.

         6. The Borrower and the Guarantors hereby represent and warrant to the
Agent and the Lenders as follows:

                  (i) Each Loan Party has taken all necessary action to
         authorize the execution, delivery and performance of this Third
         Amendment.

                  (ii) This Third Amendment has been duly executed and delivered
         by the Loan Parties and constitutes each of the Loan Parties' legal,
         valid and binding obligations, enforceable in accordance with its
         terms, except as such enforceability may be subject to (i) bankruptcy,
         insolvency, reorganization, fraudulent conveyance or transfer,
         moratorium or similar laws affecting creditors' rights generally and
         (ii) general principles of equity (regardless of whether such
         enforceability is considered in a proceeding at law or in equity).

                  (iii) No consent, approval, authorization or order of, or
         filing, registration or qualification with, any court or governmental
         authority or third party is required in connection with the execution,
         delivery or performance by any Loan Party of this Third Amendment.

         7. Except as modified hereby, all of the terms and provisions of the
Credit Agreement (including Schedules and Exhibits) and the other Loan
Documents, and the obligations of the Loan Parties under the Credit Agreement
and the other Loan Documents, are hereby ratified and confirmed and shall remain
in full force and effect.

         8. This Third Amendment may be executed in any number of counterparts,
each of which when so executed and delivered shall be deemed an original and it
shall not be necessary in making proof of this Third Amendment to produce or

                                       4
<PAGE>

account for more than one such counterpart.

         9. This Third Amendment shall be deemed to be a contract made under,
and for all purposes shall be construed in accordance with, the laws of the
State of New York.

         IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart
of this Third Amendment to be duly executed and delivered as of the date first
above written.

                                 "BORROWER"

                                 APPLICA INCORPORATED, a Florida corporation

                                 By: /s/ Adam L. Kaplan
                                    ---------------------------------------
                                 Name:  Adam L. Kaplan
                                 Title: Treasurer

                                 "GUARANTORS"

                                 APPLICA CONSUMER PRODUCTS, INC., a Florida
                                 corporation

                                 By: /s/ ADAM L. KAPLAN
                                    ---------------------------------------
                                 Name:  Adam L. Kaplan
                                 Title: Treasurer

                                 APPLICA CANADA CORPORATION, a
                                 Nova Scotia corporation

                                 By: /s/ ADAM L. KAPLAN
                                    ---------------------------------------
                                 Name:  Adam L. Kaplan
                                 Title: Treasurer

                                 WD DELAWARE, INC., a Delaware corporation

                                 By: /s/ ADAM L. KAPLAN
                                    ---------------------------------------
                                 Name:  Adam L. Kaplan
                                 Title: Treasurer

                                       5
<PAGE>

                                 HP INTELLECTUAL CORP., a Delaware corporation

                                 By: /s/ ADAM L. KAPLAN
                                    ---------------------------------------
                                 Name: Adam L. Kaplan
                                 Title:   Treasurer

                                 WINDMERE HOLDINGS CORPORATION, a Delaware
                                 corporation

                                 By: /s/ ADAM L. KAPLAN
                                    ---------------------------------------
                                 Name: Adam L. Kaplan
                                 Title:   Treasurer

                                 HP DELAWARE, INC., a Delaware corporation

                                 By: /s/ ADAM L. KAPLAN
                                    ---------------------------------------
                                 Name: Adam L. Kaplan
                                 Title:   Treasurer

                                 HPG LLC, a Delaware limited liability company

                                 By: /s/ ADAM L. KAPLAN
                                    ---------------------------------------
                                 Name: Adam L. Kaplan
                                 Title:   Treasurer

                                 HP AMERICAS, INC., a Delaware corporation

                                 By: /s/ ADAM L. KAPLAN
                                    ---------------------------------------
                                 Name: Adam L. Kaplan
                                 Title:   Treasurer

                    [Signatures continued on following page]

                                       6
<PAGE>

                                 "AGENT"

                                 Bank of America, N.A., as the Agent

                                 By:       /s/ STUART A. HALL
                                          --------------------------------------
                                 Name:          STUART A. HALL
                                          --------------------------------------
                                 Title:         VICE PRESIDENT
                                          --------------------------------------

                                 LENDERS"

                                 Bank of America, N.A., as a Lender

                                 By:       /s/ STUART A. HALL
                                          --------------------------------------
                                 Name:          STUART A. HALL
                                          --------------------------------------
                                 Title:        VICE PRESIDENT
                                          --------------------------------------

                                 FLEET CAPITAL CORPORATION, as a Lender

                                 By:       /s/ KRISTINA LEE
                                          --------------------------------------
                                 Name:          KRISTINA LEE
                                          --------------------------------------
                                 Title:         VICE PRESIDENT
                                          --------------------------------------

                                 CONGRESS FINANCIAL CORPORATION (FLORIDA), as a
                                 Lender

                                 By:       /s/ JOSEPH R. BLASETTI
                                          --------------------------------------
                                 Name:          JOSEPH R. BLASETTI
                                          --------------------------------------
                                 Title:          A.V.P.
                                          --------------------------------------

                                 LASALLE BUSINESS CREDIT, INC., as agent for
                                 Standard Federal Bank National Association, as
                                 a Lender

                                 By:       /s/ ROGER D. ATTIX
                                          --------------------------------------
                                 Name:          ROGER D. ATTIX
                                          --------------------------------------
                                 Title:         V.P.
                                          --------------------------------------

                    [Signatures continued on following page]

                                       7
<PAGE>

                              GENERAL ELECTRIC CAPITAL CORPORATION, as a Lender

                              By:       /s/ JEFFREY MORSE
                                       -----------------------------------------
                              Name:          JEFFREY MORSE
                                       -----------------------------------------
                              Title:         DULY AUTHORIZED SIGNATORY
                                       -----------------------------------------

                              HSBC BUSINESS CREDIT (USA), INC., as a Lender

                              By:       /s/ JIMMY SCHWARTZ
                                       -----------------------------------------
                              Name:         JIMMY SCHWARTZ
                                       -----------------------------------------
                              Title:        VICE PRESIDENT
                                       -----------------------------------------

                              PNC BANK, NATIONAL ASSOCIATION, as a Lender

                              By:       /s/ JUNDIE CADIENA
                                       -----------------------------------------
                              Name:          JUNDIE CADIENA
                                       -----------------------------------------
                              Title:         VICE PRESIDENT
                                       -----------------------------------------

                                       8

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