Document:

Exhibit

EXHIBIT 10.29.1

FIRST AMENDMENT TO STANDARD EXECUTIVE EMPLOYMENT AGREEMENT

This First Amendment to Standard Executive Employment Agreement ("Amendment") is made effective as of the date  signed ("Effective Date") by and between DSW  Inc.,  an Ohio corporation (the "Company") and William Jordan (the "Executive");

WHEREAS, Company and Executive are parties to a certain Standard Executive Employment Agreement effective March 27, 2009 (the "Employment Agreement");

WHEREAS, Company and Executive have agreed to amend certain provisions of the Employment Agreement;

NOW, THEREFORE, in consideration of the mutual covenants herein contained, and intending to be legally bound  hereby, Company and Executive agree that the Employment Agreement is amended as follows:

		
	1.
	Section 5.06 of the Agreement is hereby amended by replacing subsection [4] in its entirety with the following:

[4]           Equity Incentive. Subject to the terms of the DSW Inc. 2005 Equity Incentive Plan, the DSW Inc. 2014 Equity Incentive Plan, and any future shareholder approved Company equity plan (collectively the "Plans"), and any other applicable agreement, the Executive shall have the following rights:

i.    For purposes of this Amendment, "Award" means any award granted under any of the Plans.

ii.     Executive may exercise any outstanding Awards that are vested on the date of Involuntary Termination Without Cause.

iii.   With respect to Awards that would vest solely upon the passage of time and such vesting date would occur within the 12 month period following the date of Involuntary Termination Without Cause, such Award shall vest and, if applicable, be awarded to Executive as of the date of Involuntary Termination Without Cause.

iv.   With respect to Awards that would vest upon the satisfaction of a specified requirement, and/or upon satisfaction of the passage of time and satisfaction of a specified requirement; in the event that all such requirements are satisfied prior to the expiration of the 12 month period following the date of Involuntary Termination Without Cause, such Award shall vest and be awarded to Executive upon the satisfaction of all applicable requirements.

In any event, Executive must exercise any vested Awards during the three month period following the date of vesting.

2.   Except as specifically amended by the provisions of this Amendment, all terms of the Employment Agreement are    unmodified and remain in full force and effect.

IN WITNESS WHEREOF, the Executive has hereunto set the Executive's hand and the Company has caused these presents to be executed in its name and on its behalf.
	
				
	Date:
	November 9, 2015
	By:
	/s/ William Jordan

	 
	 
	 
	William Jordan

	 
	 
	 
	Executive

	 
	 
	 
	 

	 
	 
	By:
	/s/ Thomas Jessep

	 
	 
	 
	Thomas Jessep

	 
	 
	 
	SVP, Human ResourcesExhibit

EXHIBIT 10.31.1
FIRST AMENDMENT TO STANDARD EMPLOYMENT AGREEMENT

This  First Amendment to Standard Employment Agreement ("Amendment") is made effective as of the date signed ("Effective Date") by and between DSW Inc., an Ohio corporation (the "Company") and Carrie McDermott (the "Executive");

WHEREAS, Company and Executive are parties to a certain Employment Agreement effective December 31, 2007 (the "Employment Agreement");

WHEREAS, Company and Executive have agreed to amend certain provisions of the Employment Agreement;

NOW, THEREFORE, in consideration of the mutual covenants herein contained, and intending to be legally bound  hereby, Company and Executive agree that the Agreement is amended as follows:

		
	1.
	Section 5.06 of the Agreement is hereby amended by replacing subsection [4] in its entirety with the following:

[4]           Equity Incentive. Subject to the terms of the DSW Inc. 2005 Equity Incentive Plan, the DSW Inc. 2014 Equity Incentive Plan, any future shareholder approved Company equity plan (collectively the "Plans"), and any applicable agreement, the Executive shall have the following rights:

i.   For purposes of this Amendment, "Award" means any award granted under any of the Plans.

ii.   Executive may exercise any outstanding Awards that are vested on the date of Involuntary Termination Without Cause.

iii.   With respect to Awards that would vest solely upon the passage of time and such vesting date would occur within the 12 month period following the date of Involuntary Termination Without Cause, such Award shall vest and, if applicable, be awarded to Executive as of the date of Involuntary Termination Without Cause.

iv.   With respect to Awards that would vest upon the satisfaction of a specified requirement, and/or upon satisfaction of the passage of time and satisfaction of a specified requirement; in the event that all such requirements are satisfied prior to the expiration of the 12 month period
following the date of Involuntary Termination Without Cause, such Award shall vest and be awarded to Executive upon the satisfaction of all applicable requirements.

In any event, Executive must exercise any vested Awards during the three-month period following the date of vesting.

2.   Except as specifically amended by the provisions of this Amendment, all terms of the Employment Agreement are unmodified and remain in full force and effect.

IN WITNESS WHEREOF the Executive has hereunto set the Executive's hand and the Company has caused these presents to be executed in its name and on its behalf.
	
				
	Date:
	February 24, 2016
	By:
	/s/ Carrie McDermott

	 
	 
	 
	Carrie McDermott

	 
	 
	 
	Executive

	 
	 
	 
	 

	 
	 
	By:
	/s/ Thomas Jessep

	 
	 
	 
	Thomas Jessep

	 
	 
	 
	SVP, Human ResourcesExhibit

EXHIBIT 10.35.1
SECOND AMENDMENT TO CREDIT AGREEMENT

DSW INC., an Ohio corporation (the "Borrower"), the Guarantors party hereto, and PNC BANK, NATIONAL ASSOCIATION, a national banking association (the "Lender"),  agree as follows effective as of January 11, 2016 (the "Effective Date"):

1.        Recitals.

1.1      The Borrower, the Guarantors and the Lender are parties to an Amended and Restated Credit Agreement dated  as of August 2, 2013 (as amended, restated, supplemented or otherwise modified from time to time, including by a Consent, Waiver and Amendment dated April 15, 2014, the "Credit Agreement"). Capitalized terms used herein and not otherwise defined will have the meanings given such terms in the Credit Agreement.

1.2       Pursuant to Section 2.7 of the Credit Agreement, the Borrower may, subject to the terms  and  conditions  thereof,  request that the Lender increase the Revolving Credit Commitment, and the Borrower has requested that the Lender increase the Revolving Credit Commitment from $50,000,000 to $100,000,000.

1.3       Pursuant to this Second Amendment to Credit Agreement (the  "Amendment"), the parties desire to provide for such requested increase to the Revolving Credit Commitment and to amend certain provisions of the Credit Agreement.

2.         Amendments.

2.1       Item (vii) of the definition of "Permitted  Acquisition" set forth in Section 1.1 (Certain Definitions) of the Credit Agreement is hereby deleted and replaced with the following:

(vii)     If the Person which is the subject of such Acquisition will be maintained as a Subsidiary of a Loan Party, or if the assets acquired  in the Acquisition will be transferred to a Subsidiary which is not then a Loan Party, then within 60 days after the consummation of the Acquisition, such Subsidiary shall have been joined as a Borrower or as a Guarantor hereunder, as the Lender shall determine, and the Lender shall have received a first priority security interest and/or mortgage lien in such Subsidiary's equity interests and property of such Subsidiary of the same nature as constitutes Collateral under the Collateral Documents; and

2.2       The definition of  "Revolving Credit Commitment" set forth in Section 1.1 (Certain Definitions) of the Credit Agreement is hereby deleted and replaced with the following:

Revolving Credit Commitment shall mean $100,000,000.

3.         Representations and Warranties. To induce the Lender to enter into this Amendment, each Loan Party represents and warrants that:

3.1       The  Credit  Agreement as previously executed and amended and as amended hereby constitutes the legal, valid and binding obligation of each Loan Party and is enforceable against such Loan Patty in accordance  with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors' rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.

3.2       Upon the effectiveness of this Amendment, (i) no Potential  Default  or Event of Default exists under the terms of the Credit Agreement and (ii) all representations and warranties made by any Loan Party in the Credit Agreement or the other Loan Documents are true and correct in all material respects as if made on and as of the Effective Date, except to the extent that such representations and warranties expressly relate to an earlier time.

3.3       The Borrower and the Guarantors appearing on the signature page hereto are all of the Loan Parties.

4.         Conditions of Effectiveness. This Amendment shall become effective and be deemed effective as of the date hereof if, and only if:

		
	4.1       
	the Lender shall have received from the Borrower an Amended and Restated Revolving Credit Note in the amount of the Revolving Credit Commitment (after giving effect to this Amendment) and otherwise in a form satisfactory to the Lender and the Borrower;

		
	4.2         
	the Lender shall have received a certificate, dated the Effective Date, of the Loan Parties (i) as to  the incumbency of the signatories to this Amendment and the related documents; (ii) certifying and attaching copies of the articles of incorporation,  articles of organization,  regulations,  operating agreement or other applicable chatter  documents of each Loan Party (or, if certified copies of such documents have previously been delivered to the Lender in connection with the Credit Agreement and are unchanged, certification of  no changes to such documents), and (iii) certifying and attaching resolutions of the board of directors or other governing body of each Loan Party authorizing the execution, delivery and performance of this Amendment and the related documents; and

		
	4.3       
	no Potential Default or Event of Default shall have occurred and be continuing on the date hereof.

5.         Effect on Credit Agreement.

		
	5.1       
	Upon the effectiveness of this Amendment, each reference in the Credit Agreement to "this Agreement,"  "hereunder," "hereof," "herein" or words of like import shall mean and be a reference to the Credit Agreement, as amended and modified hereby.

		
	5.2       
	Except  as specifically amended  and  modified  above,  the  Credit  Agreement and the other  Loan  Documents shall  remain in full force and effect, and are hereby ratified and confirmed.

		
	5.3      
	The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Lender, nor constitute a waiver of any provision of the Credit Agreement, any other Loan  Document, or any other document, instrument and agreement executed and/or delivered in connection with the Credit Agreement.

6.          Unused Fee. The Borrower and the Lender acknowledge that (i) pursuant to Section 1 of the Fee Letter Agreement dated as of August 2, 2013 between the Borrower and the Lender, an unused fee equal to eight (8) basis points per  annum of the Average Daily Revolving Credit Availability, calculated on the basis of a 360 day year for the actual number of days elapsed, is due and payable quarterly in arrears to the Lender and (ii) from and after the Effective Date,  such fee shall be calculated based on the revised Revolving Credit Commitment amount of $100,000,000.

		
	7.         
	Costs and Expenses.  The Borrower agrees to pay all reasonable and documented costs, fees and expenses (including reasonable attorneys' fees and expenses charged to the Lender) incurred by the Lender in connection with the preparation, execution and delivery of this Amendment and the related documents; provided, however, that such attorneys' fees shall not exceed the aggregate sum of $4,500.

8.          General.

8.1       This Amendment will be binding upon and inure to the benefit of the Loan Parties and the Lender and their respective successors and assigns.

		
	8.2       
	All  representations, warranties, and covenants made by any Loan Party herein will survive the execution and delivery of this Amendment.

		
	8.3       
	This Amendment may be executed in one or more counterparts, each of which will be deemed an original  and all of which together will constitute one and the same instrument.

		
	8.4       
	The parties hereto have participated jointly in the negotiation and drafting of this Amendment. If any ambiguity or question of intent or interpretation arises, this Amendment shall be construed as if drafted jointly by the 

parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Amendment.

		
	8.5       
	This Amendment will in all respects be governed and construed in accordance with the laws of the State of Ohio, without regard to conflict of laws principles.

IN WITNESS WHEREOF, the parties have executed and delivered this Second Amendment to Credit Agreement as of the Effective Date.
	
				
	Date:
	January 11, 2016
	Borrower:
	/s/ Jared Poff

	 
	 
	 
	Jared Poff

	 
	 
	 
	Vice President Finance and Business Development and Treasurer

	 
	 
	 
	DSW SHOE WAREHOUSE, INC.

	 
	 
	 
	 

	 
	 
	Lender:
	/s/ George M Gevas

	 
	 
	 
	George M Gevas

	 
	 
	 
	Senior Vice President

	 
	 
	 
	PNC BANK, NATIONAL ASSOCIATION

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