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                                                                 EXHIBIT 10.65

                              IRON AGE CORPORATION

                         2002 MANAGEMENT INCENTIVE PLAN

1. PURPOSE.

          The purpose of this 2002 Management Incentive Plan (the "Plan") is to
advance the interests of Iron Age Corporation, a Delaware corporation (the
"Company"), and Iron Age Holdings Corporation, a Delaware corporation and the
parent company of the Company ("Holdings"), by enhancing the ability of
Holdings, the Company and its Subsidiaries to attract and retain directors and
members of management who are in a position to make a significant contribution
to the success of Holdings, the Company and its Subsidiaries, to reward such
individuals for their contributions and to encourage such individuals to take
into account the long-term interests of Holdings, the Company and its
Subsidiaries. The Plan provides for the award of interests in the Plan in the
form of units (each, a "Unit").

2. ELIGIBILITY FOR AWARDS.

         Persons (as defined below) eligible to receive awards under the Plan
shall be all directors (including directors who are not employees) of Holdings
or the Company, all executive officers of Holdings, the Company and its
Subsidiaries and other employees, consultants and advisers who, in the opinion
of the Board (as defined below), are in a position to make a significant
contribution to the success of Holdings, the Company and its Subsidiaries.
Persons selected for awards under the Plan are referred to herein as
"Unitholders".

3. ADMINISTRATION.

         The Plan shall be administered by the Board of Directors (the "Board")
of the Company or, if applicable, the successors and assigns of the Company. The
Board shall have authority, not inconsistent with the express provisions of the
Plan: (a) to grant awards to such Unitholders as the Board may select; (b) to
determine the time or times when awards shall be granted and the number of Units
subject to each award; (c) to determine the terms and conditions of each award;
(d) to prescribe the form or forms of any instruments evidencing awards,
including the Unit Certificates, and any other instruments required under the
Plan and to change such forms from time to time; (e) to adopt, amend and rescind
rules and regulations for the administration of the Plan; and (f) to interpret
the Plan and any award granted hereunder and to decide any questions and settle
all controversies and disputes that may arise in connection with the Plan or any
award granted hereunder. Such determinations of the Board shall be conclusive
and shall bind all Persons. Subject to Section 8, the Board also shall have the
authority, both generally and in particular instances, to waive compliance by
any Unitholder with any obligation to be performed by such Unitholder under any
award, to waive any condition or provision of any award and to amend or cancel
any award (and if any award is canceled, to grant a new award on such terms as
the Board shall specify); provided, however, that except as expressly provided
in the Plan or in

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any award granted hereunder, the Board may not amend any outstanding award in a
manner that would adversely affect the rights of the Unitholder under such award
without such Unitholder's written consent. Nothing in the immediately preceding
sentence shall be construed as limiting the power of the Board to make
adjustments required by Section 5(b) or 6(j).

         The Board may, in its sole discretion, delegate some or all of its
powers with respect to the Plan to a committee (the "Committee"), in which event
all references in this Plan (as appropriate) to the Board shall be deemed to
refer to the Committee. The Committee, if one is appointed, shall consist of at
least two directors. A majority of the members of the Committee shall constitute
a quorum, and all determinations of the Committee shall be made by a majority of
its members. Any determination of the Committee under the Plan may be made
without notice or meeting of the Committee by a writing signed by a majority of
the Committee members.

4. EFFECTIVE DATE OF PLAN.

         The Plan shall become effective on the date on which it is approved by
the Board.

5. UNITS.

         (a) Number of Units. Subject to adjustment as provided in Section 5(b),
the aggregate number of Units that may be awarded under the Plan shall be one
hundred and fifty (150), of which one hundred (100) shall be Class A Units and
fifty (50) shall be Class B Units. Each award granted under the Plan shall be
designated as a Class A Unit, a Class B Unit or any combination of the
foregoing. If any award granted under the Plan terminates without having vested
in full, those Units which did not vest under such award shall be available for
future grants within the limits set forth in this Section 5(a).

         (b) Change in Units. The Board may, in its sole discretion, adjust the
number of Units subject to outstanding awards and other terms of outstanding
awards, to take into consideration changes in accounting practices or
principles, extraordinary dividends, consolidations or mergers, acquisitions,
recapitalizations or dispositions of stock or property or any other event, in
each case if it is determined by the Board in its sole discretion that such
adjustment is advisable in an equitable manner which provides similar treatment
to similarly situated Unitholders so that the Units granted hereunder constitute
a continuing incentive.

6. TERMS AND CONDITIONS OF UNITS.

         (a) Payment Per Unit. The payment amount ("Payment") for each Unit and
the date on which Payment shall be made (the "Payment Date") shall be determined
by the Board and shall be set forth in the Unit award. Cash payments in respect
of any Unit shall be made by check or wire transfer of immediately available
funds to an account specified by the Unitholder, or as may otherwise be
determined by the Board. The Board may decide, in its sole discretion, to pay a
portion of any Payment due to a Unitholder with non-cash consideration, provided
that the payment of such non-cash consideration to such Unitholder does not
violate any applicable laws and regulations, including federal and state
securities laws and regulations.

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         (b) Vesting of Units. A Unit shall vest ("Vest") at such time or times
and upon such conditions as the Board may specify in the Unit award; provided,
however, that the Board shall not change the vesting provisions set forth in any
Unit award following its issuance in a manner that adversely affects the
Unitholder thereof without the consent of such Unitholder. Without limiting the
generality of the foregoing, the Board may specify a different time or times and
different conditions with respect to the Vesting of Units, which shall be set
forth in the Unit award, for Units granted in the same award. In the case of
Units which are not immediately Vested in full, the Board may at any time
accelerate the time at which all or any part of the Units may become Vested.

         (c) Receipt of Payment.

                  (i) During the Unitholder's lifetime, payment with respect to
         any Unit may be received only by the Unitholder (unless the Unitholder
         is declared legally incompetent and a legal representative has been
         appointed for the Unitholder, in which event payment may be received on
         the Unitholder's behalf by such legal representative).

                  (ii) The Board shall have the right to withhold from any
         Unitholder receiving cash payment with respect to any Unit an amount
         sufficient to satisfy any federal, state, or local withholding tax
         requirements (or make other arrangements satisfactory to the Company
         with regard to such taxes) prior to the delivery of such payment to the
         Unitholder. In the event of payment of non-cash consideration with
         respect to any Unit, the Board shall have the right to require the
         Unitholder receiving such payment to remit to the Company an amount
         sufficient to satisfy any federal, state, or local withholding tax
         requirements (or make other arrangements satisfactory to the Company
         with regard to such taxes) prior to the delivery of such payment to the
         Unitholder.

                  (iii) If any Person other than the applicable Unitholder
         attempts to receive payment in respect of any Unit in accordance with
         this Section 6(c), the Company shall be under no obligation to deliver
         payment to such Person until the Company is satisfied as to the
         authority of such Person.

         (d) Delivery of Payment. The Company shall not be obligated to deliver
any payment in respect of any Unit (i) until, in the opinion of the Company's
counsel, all applicable federal, state and foreign laws and regulations have
been complied with, (ii) until all other legal matters in connection with
payment in respect of any such Units and pursuant to any employment agreement
and any other employment-related matters have been approved by the Company's
counsel and (iii) until, if requested by Company's counsel, a release of claims
that is satisfactory to Company's counsel in its sole discretion has been
executed by the Unitholder. In the event that non-cash consideration constitutes
a portion of any payment to a Unitholder, the Company may require, as a
condition to the payment of such non-cash consideration, (A) such
representations, warranties or agreements as the Company may deem necessary or
desirable in order to assure compliance with all applicable federal, state and
foreign laws and regulations, including securities laws and regulations, or as
may otherwise be reasonably requested by the Company and (B) that the
certificates, if any, evidencing the non-cash consideration to be issued as
payment for any Unit bear an appropriate legend, if necessary, restricting
transfer.

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         (e) Nontransferability of Awards. Except as otherwise set forth in a
Unit award, no award may be transferred other than by will or by the laws of
descent and distribution.

         (f) Death. Except as otherwise set forth in a Unit award, if a
Unitholder dies, each Unit held by such Unitholder immediately prior to his or
her death may be entitled to any and all payments due in respect of such Unit,
to the extent it was Vested immediately prior to such Unitholder's death, upon
presentation of the Unit award by his executor or administrator, or by the
Person or Persons to whom the award is transferred by will or the applicable
laws of descent and distribution, at any time on or prior to the date which is
90 days after any applicable Payment Date. Except as otherwise set forth in a
Unit award, all awards held by a Unitholder immediately prior to his or her
death that are not then Vested shall terminate on the date of such Unitholder's
death.

         (g) Termination for Cause. Except as otherwise set forth in a Unit
award, if any employee's employment with Holdings, the Company or any of its
Subsidiaries, or any director of Holdings, the Company or any of its
Subsidiaries, is terminated for Cause (as defined below), all Units held by such
employee or director, whether or not Vested, shall terminate immediately upon
such employee's or director's discharge.

         Except as otherwise set forth in a Unit award, the following events or
conditions, as determined by the Board in its reasonable judgment, shall
constitute "Cause" for termination of a Unitholder: (i) the conduct of such
Unitholder in the performance of his duties and responsibilities in a manner
materially adverse to Holdings, the Company or any of its Subsidiaries or
Holdings' shareholders; (ii) an undisclosed material conflict of interest or any
other material breach by such Unitholder of any of the provisions of any
employment, nondisclosure/noncompete/inventions or other agreement, if any,
between such Unitholder and Holdings, the Company or any of its Subsidiaries;
(iii) fraud, embezzlement or other material dishonesty with respect to Holdings,
the Company or any of its Subsidiaries or Holdings' shareholders; (iv)
conviction of, or plea of nolo contendre to, any felony or any other crime
involving dishonesty or moral turpitude; or (v) failure to execute a directive
of such Unitholder's superior or the Board (if such directive is consistent with
such Unitholder's position and not in violation of generally accepted moral,
ethical or professional standards); provided, however, that if such Unitholder
is party to a written employment agreement with Holdings, the Company or any of
its Subsidiaries containing a definition of "cause" for termination of
employment, then, with respect to such Unitholder, such alternative definition
shall govern for purposes of this Plan.

         (h) Other Termination. Except as otherwise set forth in a Unit award,
if any employee's employment with Holdings, the Company and its Subsidiaries
terminates for any reason other than death or termination for Cause or if any
director who is a Unitholder ceases to serve on the Board of Holdings, the
Company or any of its Subsidiaries for any reason, then (A) any award held by
such employee or director that is not Vested prior to the date of such
termination of employment or service on the Board shall immediately terminate
and (B) any award held by such employee or director that is Vested prior to the
date of such termination of employment or service on the Board shall continue to
be Vested and shall be entitled to any and all payments as set forth in the Unit
award until the date that is 90 days after the applicable Payment Date.

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         After completion of the 90-day period referred to in clause (B) above
(or any applicable longer period), each such Unit shall terminate to the extent
not previously terminated, unless otherwise specified in the Unit award. For
purposes of this Section 6(h), employment shall not be considered terminated (1)
in the case of sick leave or other bona fide leave of absence approved for
purposes of the Plan by the Board, so long as the employee's right to
reemployment is guaranteed either by statute or by contract, or (2) in the case
of a transfer of employment between or among Holdings, the Company and any of
its Subsidiaries.

         (i) Termination of Service of Non-Employees. In the case of any
Unitholder who is not an employee or director of Holdings, the Company or any of
its Subsidiaries, provisions relating to the exercisability of awards following
termination of service may be specified in the Unit award; provided, however,
that if such provisions are not so specified, then upon the termination of
service of such Unitholder, all awards held by such Unitholder shall be subject
to the provisions of Sections 6(g) and 6(h).

         (j) Mergers, etc. Except as otherwise set forth in any Unit award, in
the event of a consolidation or merger in which the Company is not the surviving
corporation and which does not give rise to a Payment in respect of any Units,
the Board shall use reasonable efforts to have the surviving or acquiring
corporation or other related entity or affiliate thereof, subject to
consummation of such merger or consolidation, assume all obligations under the
Plan or, in the discretion of the Board, provide replacement benefits which, in
the judgment of the Board, are substantially equivalent to the Units awarded
hereunder.

         The Board may grant awards under the Plan in substitution for awards
held by employees, consultants or advisers of another corporation who
concurrently become employees, consultants or advisers of Holdings, the Company
or any of its Subsidiaries as the result of a merger or consolidation of such
other corporation with Holdings, the Company or any of its Subsidiaries, or as
the result of the acquisition by Holdings, the Company or any of its
Subsidiaries of property or stock of such other corporation. The Company may
direct that substitute awards be granted on such terms and conditions as the
Board considers appropriate in the circumstances.

7. CERTAIN RIGHTS.

         Neither the adoption of the Plan nor the grant of awards shall confer
upon any Unitholder any right to continue as a director of, an employee of, or
consultant or adviser to, Holdings, the Company or any of its Subsidiaries or
affect in any way the right of Holdings, the Company or any of its Subsidiaries
to terminate such Unitholder at any time. Except as specifically provided by the
Board in any particular case, the loss of existing or potential profit in awards
granted under this Plan shall not constitute an element of damages in the event
of any termination of the relationship of any Unitholder, even if such
termination is in violation of any obligation of the Company to such Unitholder
by contract or otherwise.

8. DISCONTINUANCE, CANCELLATION, AMENDMENT AND TERMINATION.

         The Board may at any time discontinue granting awards under the Plan.
With the written consent of any Unitholder, the Board may at any time cancel in
whole or in part any existing

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award held by such Unitholder and grant another award as the Board specifies.
The Board may at any time or times amend the Plan or any outstanding award for
the purpose of satisfying any requirements of the Code or any changes in
applicable laws or regulations or for any other purpose that may at the time be
permitted by law, or may at any time terminate the Plan as to any further grants
of awards; provided, however, that except as expressly provided in the Plan or
in any award granted hereunder, no such amendment shall adversely affect the
rights of any Unitholder (without the written consent of such Unitholder) under
such award.

         The Plan shall immediately and automatically terminate in the event of
(a) an insolvency, bankruptcy, receivership, liquidation, reorganization,
reformation, readjustment, composition or other similar proceeding relating to
Holdings, the Company or its Subsidiaries or their respective creditors or
property, (b) any proceeding for the liquidation, dissolution or other winding
up of Holdings, the Company or its Subsidiaries, voluntary or involuntary,
whether or not involving insolvency or bankruptcy proceedings, (c) any
assignment by any of Holdings, the Company or its Subsidiaries for the benefit
of creditors, or (d) any other marshaling of the assets of any of Holdings, the
Company or its Subsidiaries.

9. DEFINITIONS.

         "Board" is defined in Section 3.

         "Cause" is defined in Section 6(g).

         "Code" means the Internal Revenue Code of 1986, as amended.

         "Committee" is defined in Section 3.

         "Company" is defined in Section 1.

         "Holdings" is defined in Section 1.

         "Payment" is defined in Section 6(a).

         "Payment Date" is defined in Section 6(a).

         "Person" means any individual, partnership, limited liability company,
joint venture, corporation, trust, unincorporated organization or entity, or any
government, or department or agency thereof, or any other similar entity.

         "Plan" is defined in Section 1.

         "Subsidiary" means any Person of which the Company at the time (a)
shall own, directly or indirectly through a Subsidiary, at least a majority of
the outstanding capital stock (or other shares of beneficial interest) entitled
to vote generally or (b) shall control the board of directors of such Person.

         "Unit" is defined in Section 1.

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         "Unitholder" is defined in Section 2.

         "Vest" is defined in Section 6(b).

As of October 11, 2002

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                                                                EXHIBIT 10.66

                              IRON AGE CORPORATION

                            MANAGEMENT INCENTIVE PLAN

                            CLASS A UNIT CERTIFICATE

                                               Effective Date: November 1, 2002

         Subject to all of the terms and conditions contained herein and in the
Company's 2002 Management Incentive Plan (the "Plan"), the undersigned Iron Age
Corporation, a Delaware corporation (the "Company"), hereby grants to
_____________ (the "Unitholder") ____ Class A Units (each a "Unit") pursuant to
the Plan. Certain capitalized terms are used herein with the specific meanings
set forth in Appendix I hereto. Capitalized terms defined in the Plan and not
otherwise defined herein (including in Appendix I hereto) are used herein
(including in Appendix I hereto) with the meanings so defined.

1. Payment. Payment in respect of a Unit shall be made in accordance with
Section 1 and shall only be made in the event of a Liquidity Event. Upon the
occurrence of a Liquidity Event, each Unit shall equal the right to receive from
the Company, upon presentation of this Unit Certificate to the Company within 90
days after such Liquidity Event, a cash payment (each a "Payment") in the
following amounts:

         (a)      an amount equal to (x) Net Proceeds A multiplied by (y) 0.10%,
                  multiplied by (z) the Vested Percentage for such Unitholder;
                  plus

         (b)      an amount equal to (x) Net Proceeds B multiplied by (y) 0.05%,
                  multiplied by (z) the Vested Percentage for such Unitholder.

         In the event that Net Proceeds includes non-cash consideration, the
Board may decide, in its sole discretion, to pay a percentage of any Payment due
to a Unitholder with such non-cash consideration, such percentage to be equal to
the percentage that non-cash consideration represents of the total consideration
received by the Fenway Shareholders from such Liquidity Event, provided that the
payment of such non-cash consideration to a Unitholder does not violate any
applicable laws and regulations, including federal and state securities laws and
regulations.

2. Vesting.

         (a) Vesting During Employment. While the Unitholder is employed on a
full-time basis by the Company or any of its Subsidiaries, or while the
Unitholder who is a director of the Company is a director, the Units granted
hereunder shall become Vested only as provided in this Section 2. A portion of
the Units shall become Vested on the Initial Vesting Date, the first anniversary
of the Initial Vesting Date and the second anniversary of the Initial Vesting
Date

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(each such date, a "Vesting Date"), provided that the Unitholder is continuously
employed on a full-time basis by the Company or any of its Subsidiaries or
continuously remains a director of the Company, as applicable, in each case from
the Effective Date hereof through the applicable Vesting Date. The portion of
the Units which shall become Vested on each Vesting Date shall equal the product
of (i) the aggregate number of Units granted hereunder multiplied by (ii) 0.333.
The Vested percentage of a Unitholder's Units on any given date shall
hereinafter be referred to as the "Vested Percentage".

         (b) Vesting and Calculation of Net Proceeds After Termination of
Employment. In the event a Unitholder is terminated for Cause, such Unitholder's
Units shall automatically terminate, whether or not any portion of the Units has
Vested.

         In the event a Unitholder who is an employee is terminated without
Cause or resigns, (i) the unvested portion of such Unitholder's Units shall
automatically terminate as of the date of such Unitholder's termination or
resignation (the "Termination Date"), unless otherwise extended in the
discretion of the Board, and (ii) with respect to calculating the Payment, if
any, due in respect of the Vested portion of such Unitholder's Units, Net
Proceeds shall equal (A) the lesser of (1) the EBITDA of the Company for the
twelve-month period ending on the Termination Date or (2) the EBITDA of the
Company for the twelve-month period ending on the date of such Liquidity Event,
divided by (B) the EBITDA of the Company for the twelve-month period ending on
the date of such Liquidity Event, multiplied by (C) Net Proceeds as defined in
Appendix I.

         Notwithstanding anything to the contrary herein, if a Unitholder who is
an employee is terminated without Cause or resigns, and immediately thereafter
becomes a member of the Board, the unvested portion of such Unitholder's Units
shall not automatically terminate but shall continue to be governed by the terms
of this Unit Certificate and the Plan, and such Unitholder shall thereafter be
treated as a Board Unitholder (as defined below).

         (c) Vesting and Calculation of Net Proceeds After Cessation of Board
Service. In the event that a Unitholder who is a member of the Board (a "Board
Unitholder") subsequently ceases to serve on the Board for any reason, whether
by reason of resignation, termination or failure to be re-elected by the
shareholders of the Company or otherwise, (i) the unvested portion of such Board
Unitholder's Units shall automatically terminate as of the date such Board
Unitholder ceases to serve on the Board (the "Board Termination Date"), unless
otherwise extended in the discretion of the Board, and (ii) with respect to
calculating the Payment, if any, due in respect of the Vested portion of such
Board Unitholder's Units, Net Proceeds shall be calculated as provided in
Section 2(b) except that the Termination Date as used in Section 2(b) shall be
deemed to mean the Board Termination Date for purposes of this Section 2(c).

3. Change of Control. In the event there is a consolidation or merger in which
the Company is not the surviving company and which does not constitute a
Liquidity Event and the Unitholder is continuously employed on a full-time basis
by the Company or any of its Subsidiaries or continuously remains a director of
the Company, as applicable, in each case during the period from the Effective
Date hereof until the time of such consolidation or merger, the Board shall use
reasonable efforts to have the surviving or acquiring corporation or other
related entity or affiliate thereof, subject to consummation of such
consolidation or merger, assume all

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obligations under the Plan or, in the discretion of the Board, provide
replacement benefits, which, in the judgment of the Board are substantially
equivalent to the Units awarded under the Plan.

4. Subsequent Shareholders Stock Sale. In the event of a Shareholders Stock Sale
in which the Fenway Shareholders sell less than 100% of the common stock,
preferred stock and debt of Holdings held by the Fenway Shareholders at the time
of such Liquidity Event, notwithstanding anything to the contrary herein, the
Units granted hereunder shall continue to be governed by the terms of this Unit
Certificate and the Plan (including the terms regarding vesting in Section 2)
until such time as the Fenway Shareholders sell the remainder of the common
stock, preferred stock and debt of Holdings held by the Fenway Shareholders
("Subsequent Shareholders Stock Sale"). In the event of a Subsequent
Shareholders Stock Sale, Payment in respect of each Unit shall be made in
accordance with Section 1; provided, however, that (i) Net Proceeds for such
Subsequent Shareholders Stock Sale shall be calculated as follows: all proceeds
received by the shareholders of Holdings from such Subsequent Shareholders Stock
Sale, minus all transaction expenses, fees and costs; and (ii) the amount
payable under this Unit Certificate upon such Subsequent Shareholders Stock Sale
shall be determined by first adding the Net Proceeds from the initial
Shareholders Stock Sale to the Net Proceeds from the Subsequent Shareholders
Stock Sale to calculate the Payment as set forth in Section 1 and second
subtracting from the Payment the amount of all payments previously distributed
under this Unit Certificate.

5. Amendment and Modification. Any amendment or modification of this Unit
Certificate shall be effective upon notice given by the Company to the
Unitholder, and, by acceptance hereof, the Unitholder hereby consents to all
such amendments and modifications; provided, however, that notwithstanding the
foregoing, the Company shall not amend or modify this Unit Certificate without
the consent of the Unitholder if such change would adversely affect the
Unitholder in a manner that is disproportionate to the effect of such amendment
or modification on similarly situated persons holding Units under the Plan, and
any such amendment or modification shall only be effective upon the consent of
such Unitholder.

6. Miscellaneous. Except as specifically otherwise provided in the Plan, the
Units may not be assigned or transferred by the Unitholder, in whole or in part,
whether by operation of law, upon death or otherwise. This Unit Certificate
shall be governed by and construed in accordance with the internal laws of the
State of Delaware.

                                           IRON AGE CORPORATION

                                           By ________________________________
                                              Name:
                                              Title:

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                     ACCEPTANCE AND AGREEMENT OF UNITHOLDER

         As of the date first above written, the undersigned, as the Unitholder
named in the Unit Certificate, hereby accepts all of the terms set forth in the
Unit Certificate and agrees that all of such terms shall be binding upon the
undersigned and each of the undersigned's heirs, executors, administrators,
estate, successors, assigns and legal representatives.

                                        -----------------------------------
                                        [Name of Unitholder]

<PAGE>

                                                                     Appendix I

                                   DEFINITIONS

         "Affiliate" means, with respect to any Person, any other Person
directly or indirectly controlled by, controlling or under common control with
such Person. For purposes of this definition, "control," when used with respect
to any Person, means the power to directly or indirectly direct the management
and policies of such person, whether through the ownership of voting securities,
by contract or otherwise; the terms "controlling" and "controlled" have meanings
correlative to the foregoing.

         "Asset Sale" is defined in the definition of "Liquidity Event" in this
Appendix I.

         "Board" means the Board of Directors of the Company.

         "Board Termination Date" is defined in Section 2(c).

         "Board Unitholder" is defined in Section 2(c).

         "Cause" means the following events or conditions, as determined by the
Board in its reasonable judgment: (i) the conduct of the Unitholder in the
performance of his duties and responsibilities in a manner materially adverse to
Holdings, the Company or any of its Subsidiaries or Holdings' shareholders; (ii)
an undisclosed material conflict of interest or any other material breach by the
Unitholder of any of the provisions of any employment,
nondisclosure/noncompete/inventions or other agreement, if any, between the
Unitholder and Holdings, the Company or any of its Subsidiaries; (iii) fraud,
embezzlement or other material dishonesty with respect to Holdings, the Company
or any of its Subsidiaries or Holdings' shareholders; (iv) conviction of, or
plea of nolo contendre to, any felony or any other crime involving dishonesty or
moral turpitude; or (v) failure to execute a directive of the Unitholder's
superior or the Board (if such directive is consistent with the Unitholder's
position and not in violation of generally accepted moral, ethical or
professional standards); provided, however, that if the Unitholder is party to a
written employment agreement with Holdings, the Company or any of its
Subsidiaries containing a definition of "cause" for termination of employment,
then, with respect to the Unitholder, such alternative definition shall govern
for purposes of this Unit Certificate.

         "Company" is defined in the preamble hereto.

         "Company Stock Sale" is defined in the definition of "Liquidity Event"
in this Appendix I.

         "EBITDA" means, for any period, (i) the consolidated net income of the
Company and its Subsidiaries for such period determined in accordance with
generally accepted accounting principles, plus, (ii) to the extent deducted in
determining consolidated net income for such period, the aggregate amount of (A)
interest expense, (B) income tax expense, (C) depreciation, amortization and
other similar non-cash charges and (D) any extraordinary non-cash loss or other

<PAGE>

non-recurring non-cash loss, in each case as determined by the Board in its sole
discretion, minus, (iii) to the extent added in determining consolidated net
income for such period, any extraordinary non-cash gain or other non-recurring
non-cash gain, in each case as determined by the Board in its sole discretion.

         "Fenway Shareholders" means Fenway Partners Capital Fund L.P., Fenway
Partners Capital Fund II, L.P., FPIP, LLC, and FPIP Trust, LLC.

         "Holdings" means Iron Age Holding Corporation, a Delaware corporation
and the sole shareholder of the Company.

         "Initial Share Value" means, with respect to shares of Series B
Preferred Stock, the "Initial Share Value" of such shares as defined in the
Certificate of Designation, Preferences and Rights of the Series B Preferred
Stock, and with respect to shares of Series C Preferred Stock, the "Initial
Share Value" of such shares as defined in the Certificate of Designation,
Preferences and Rights of the Series C Preferred Stock.

         "Initial Vesting Date" means the later of (i) February 1, 2003 or (ii)
the second anniversary of the date of hire of the Unitholder.

         "Liquidity Event" means a transaction or series of transactions
involving (i) a sale of all or substantially all of the assets of the Company
(an "Asset Sale"); (ii) a sale of all of the common stock of the Company by
Holdings, including by way of merger or in a recapitalization transaction
("Company Stock Sale"); or (iii) a sale of capital stock of Holdings by its
shareholders in which the Fenway Shareholders sell more than 50% of the common
stock, preferred stock and debt of Holdings held by the Fenway Shareholders as
of the Effective Date hereof, including by way of merger or in a
recapitalization transaction ("Shareholders Stock Sale"); provided, however,
that in the event that the Fenway Shareholders receive voting stock of the
surviving or acquiring entity or any of its Subsidiaries or Affiliates (the
"Acquiror") in connection with such sale, such sale shall not qualify as a
Company Stock Sale or Shareholders Stock Sale for purposes of defining a
Liquidity Event unless or until the Fenway Shareholders do not hold a plurality
of the voting stock of the Acquiror.

         "Net Proceeds" means (i) in the event of an Asset Sale, all proceeds
received by the Company from such Liquidity Event, minus the amount of all debt
of Holdings, the Company and its Subsidiaries outstanding as of the date of such
Liquidity Event that is not assumed by the acquiring entity in such Liquidity
Event, minus the Preferred Stock Initial Share Value, minus all transaction
expenses, fees and costs; (ii) in the event of a Company Stock Sale, all
proceeds received by Holdings from such Liquidity Event, minus the amount of all
debt of Holdings outstanding as of the date of such Liquidity Event, minus the
Preferred Stock Initial Share Value, minus all transaction expenses, fees and
costs; or (iii) in the event of a Shareholders Stock Sale, all proceeds received
by the shareholders of Holdings from such Liquidity Event, minus the Preferred
Stock Initial Share Value, minus all transaction expenses, fees and costs;
provided, however, that notwithstanding anything to the contrary contained
herein, in the event that Holdings issues any shares of its capital stock or
other securities ("Additional Securities") after November 1, 2002 to any third
party (including without limitation any existing shareholder or its affiliates)
in connection with (i) any additional capital contributions to Holdings, or (ii)
any

<PAGE>

direct or indirect acquisition by Holdings, the Company or its Subsidiaries
of any business enterprise (whether by merger, consolidation, share exchange,
sale or acquisition of stock or assets or similar transaction), "Net Proceeds"
shall mean "Net Proceeds" as defined in clause (i), (ii) or (iii) above, as
applicable, minus the value of all such Additional Securities as of the date of
issuance, minus the amount of any accrued and unpaid interest or dividends on
such Additional Securities as of the date of the Liquidity Event; provided,
further, however, that in the event a Unitholder is terminated without Cause or
resigns or a Board Unitholder ceases to serve on the Board, "Net Proceeds" shall
be calculated as provided in Section 2(b) or 2(c), as applicable. Any non-cash
consideration received by the shareholders from a Liquidity Event shall be
valued in good faith by the Board.

         "Net Proceeds A" means the lesser of (i) all Net Proceeds, and (ii)
$2,000,000; provided, however, that in no event shall Net Proceeds A be less
than $0.

         "Net Proceeds B" means the lesser of (i) all Net Proceeds minus
$2,000,000, and (ii) an amount equal to the Preferred Stock Initial Share Value
plus the amount of any accrued and unpaid dividends on the Series B Preferred
Stock and the Series C Preferred Stock as of the date of the Liquidity Event
plus $20,000,000 minus $2,000,000; provided, however, that in no event shall Net
Proceeds B be less than $0.

         "Payment" is defined in Section 1.

         "Person" means an individual, partnership, limited liability company,
joint venture, corporation, trust, unincorporated organization or entity,
government, or any department or agency thereof, or any other similar entity.

         "Plan" is defined in the preamble hereto.

         "Preferred Stock Initial Share Value" means the aggregate Initial Share
Value of all outstanding shares of Series B Preferred Stock and Series C
Preferred Stock.

         "Series B Preferred Stock" means the Series B Preferred Stock of
Holdings.

         "Series C Preferred Stock" means the Series C Preferred Stock of
Holdings.

         "Shareholders Stock Sale" is defined in the definition of "Liquidity
Event" in this Appendix I.

         "Subsequent Shareholders Stock Sale" is defined in Section 4.

         "Subsidiary" means any Person of which the Company at the time (i)
shall own, directly or indirectly through a Subsidiary, at least a majority of
the outstanding capital stock (or other shares of beneficial interest) entitled
to vote generally or (ii) shall control the board of directors of such Person.

         "Termination Date" is defined in Section 2(b).

         "Unit" is defined in the preamble hereto.

<PAGE>

         "Unitholder" is defined in the preamble hereto.

         "Vesting Date" is defined in Section 2(a).

         "Vested Percentage" is defined in Section 2(a).

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