Document:

Award/Contract

 Exhibit 10.3 
 

 
  
 Exhibit 10.3 
 SOLICITATION/CONTRACT/ORDER FOR COMMERCIAL ITEMS 
 OFFEROR TO COMPLETE BLOCKS 12, 17, 23, 24, & 30 
 1.REQUISITION NUMBER

 PAGE 1 OF 
 6 
 2. CONTRACT NO. 
 SPM1C1-07-D-1519 
 3. AWARD/EFFECTIVE 
 DATE 
 4. ORDER NUMBER 
 5. SOLICITATION NUMBER 
 SP0100-06-R-0007 
 6. SOLICITATION ISSUE DATE 
 6/13/07 
 7. FOR SOLICITAION INFORMATION CALL: 
 a. Name 
 Stephanie Montague, FQAA 
 b. TELEPHONE NUMBER (No Collect 
 Calls) 
 (215) 737-7141 
 8 OFFER DUE DATE/ LOCAL TIME 
 9. ISSUED BY
 CODE 
 SPM1C1 
 10. THIS ACQUISTION IS 
 þUNRESTRICTED ORþ SET ASIDE% FOR: 
 DEFENSE SUPPLY CENTER PHILADELPHIA 
 þSMALL BUSINESS `EMERGING SMALL BUSINESS 
 700 ROBBINS AVENUE, BLDG 6D 
 NAICS #316211 þHUBZONE SMALL
BUSINESS 
 PHILADELPHIA PA 19111 
 215-737-7141 
 SIZE STANDARD: 500 `
SERVICE DISABLED VETERAN-OWNED SMALL BUSINESS `8(A) 
 11. DELIVERY FOR FOB
 DESTINATION 
 12. DISCOUNT TERMS 
 þ13a.THIS CONTRACT IS A

 RATED ORDER UNDER 
 13b. RATING 
 DO-C9 
 UNLESS BLOCK IS MARKED 
 DPAS (15 CFR 700) 
 14. METHOD OF SOLICITAION 
 ` SEE SCHEDULE 
 15 DELIVER TO 
 CODE 
 16. ADMINISTERED BY 
 SEE SCHEDULE 
 DCMA ATLANTA 
 2300 LAKE PARK DRIVE 
 17a CONTRACTOR/ 
 CODE 
 02LQ6

 FACILITY CODE 
 SUITE 300/MYRNA, GA 30080 
 CODE 
 S1103A 
 OFFEROR 
 18a. PAYMENT WILL BE MADE BY 
 Altama Footwear 
 1200 Lake Hearn Drive, Suite 475 
 Atlanta, GA 30319 
 TELEPHONE NO. 404-260-2888 
 DFAS COLUMBUS CENTER 
 DFAS BVDPII CC 
 3990 EAST BROAD STREET, BLDG 21 
 COLUMBUS, OH 43213-6248 
 þ 17b. CHECK IF REMITTANCE IS DIFFERENT
AND 
 PUT SUCH ADDRESS IN OFFER 
 18B. SUBMIT INVOICES TO ADDRESS SHOWN IN BLOCK 18a UNLESS BLOCK 
 BELOW IS
CHECKED ` SEE ADDENDUM 
 ` RFO` IFBþ RFP 
 19. ITEM NO. 
 20. SCHEDULE OF SUPPLIES/SERVICES 
 21.QUANTITY 
 22. UNIT 
 23. UNIT PRICE 
 24. AMOUNT 
 ARMY COMBAT BOOT HOT WEATHER 
 25. ACCOUNTING AND APPROPRIATION DATA 
 26. TOTAL AWARD AMOUNT (FOR GOVT USE ONLY) 
 BX 97X4930 5CBX 001
2630S33189 
 $98,997,590.08 (EST MAX BASE &OPTS 
 ` 27a. SOLICITATION/INCORPORATES BY REFERENCE FAR 52-212-4 FAR 52-212-3 AND 52-212-5 
 ARE ATTACHED ADDENDA 
 ARE 
 ARE NOT ATTACHED ` 
 þ 27b. CONTRACT/PURCHASE ORDER INCORPORATES BY REFERENCE FAR 52-212-4 FAR 
 52.212-5 IS ATTACHED ADDENDA 
 ARE 
 ARENOT ATTACHED 
 `28. CONTRACTOR IS REQUIRED TO SIGN THIS DOCUMENT AND RETURN COPIES TO ISSUING OFFICE. CONTRACTOR AGREES TO FURNISH AND DELIVER ALL ITEMS SET FORTH OR OTHERWISE IDENTIFIED ABOVE AND ON ANY ADDITIONAL SHEETS SUBJECT TO THE TERMS AND
CONDITIONS SPECIFIED 
 þ 29. AWARD OF CONTRACT: REF. SP0100-06-R-007 OFFER DATED YOUR
OFFER ON SOLICATION BLOCK 5) INCLUDING ANY ADDITIONS OR CHANGES WHICH ARE SET FORTH HEREIN, IS ACCEPTED AS TO ITEMS: 
 30a.
SIGNATURE OF OFFEROR/CONTRACTOR 
 31a. UNITED STATES OF AMERICA( SIGNATURE OF CONTRACTING OFFER) 
 Thomas J. Hutchison 
 30b. NAME AND TITLE OF SIGNER (Type or print) 
 30c. DATE SIGNED 
 31b. NAME OF CONTRACTING OFFICER (Type or print) 
 31c. DATE SIGNED

 9/10/07 
 AUTHORIZED FOR LOCAL REPRODUCTION 
 THOMAS J. HUTCHINSON 
 PREVIOUS EDITION IS NOT USABLE 
 STANDARD FORM 1449 (REV 3/2005) 
 Prescribed by GSA -FAR (48 CFR) 53.212 

 

 
 19. ITEM NO. 
 20. SCHEDULE OF SUPPLIES/SERVICES 
 21. QUANTITY 
 22. UNIT 
 23.
UNIT PRICE 
 24. AMOUNT 
 32a. QUANTITY IN COLUMN 21 HAS BEEN 
 ` RECEIVED 
 ` INSPECTED 
 ` ACCEPTED, AND CONFORMS TO THE CONTRACT, EXCEPT AS NOTED: 
 32b. SIGNATURE OF AUTHORIZED GOVERNMENT
REPRESENTATIVE 
 32c. DATE 
 32d. PRINTED NAME AND TITLE OF AUTHORIZED GOVERNMENT REPRESENTATIVE 
 32e.
MAILING ADDRESS OF AUTHORIZED GOVERNMENT REPRESENTATIVE 
 32f. TELEPHONE NUMBER OF AUTHORIZED GOVERNMENT REPRESENTATIVE

 32g. E-MAIL OF AUTHORIZED GOVERNMENT REPRESENTATIVE 
 33. SHIP NUMBER 
 34. VOUCHER NUMBER 
 35. AMOUNT VERIFIED CORRECT FOR 
 36. PAYMENT 
 37. CHECK NUMBER 
 ` PARTIAL 
 ` FINAL 
 ` COMPLETE 
 ` PARTIAL 
 `
FINAL 
 38. S/R ACOUNT NO. 
 39. S/F VOUCHER NUMNBER 
 40. PAID BY 
 41a. I CERTIFY THIS ACCOUNT IS CORRECT AND PROPER FOR PAYMENT 
 42a. RECEIVED BY (Print) 
 41b. SIGNATURE AND TITLE OF CERTIFYING OFFICER 
 41c. DATE 
 42b. RECEIVED AT (Location) 
 42c. DATE REC’D (YY/MM/DD) 
 42d. TOTAL CONTAINERS 
 STANDARD FORM 1449 (REV 3/2005) BACK 

					
	 ALTAMA FOOTWEAR
	  	SPM1C1-07-D-1519	  	PAGE 3 OF 6

 ITEM 0001—ACB & BOOT HW BLACK 
 UNRESTRICTED 
 Line Item 0002 
 ARMY COMBAT B GOT, HOT WEATHER 
 In accordance with
Clause 52.217-9P12, Option for Indefinite Delivery, Indefinite Quantity Contract Term Extension, the Government may extend the term of this contract for four additional one year periods. The following minimum/maximum quantities/prices apply:

 Army Combat Boot (ACB) Hot Weather: 
  

											
	 	  	MIN QTY	  	MAX QTY	  	UNIT
PRICE	  	SPECIAL
MEASURE
	 BASE YEAR
	  	83,045 Pr	  	337,261 Pr	  	$	60.52	  	$	125.00
	 OPTION I
	  	61,737 Pr	  	308,682 Pr	  	$	61.59	  	$	125.00
	 OPTION II
	  	61,737 Pr	  	308,682 Pr	  	$	62.73	  	$	125.00
	 OPTION III
	  	61,737 Pr	  	308,682 Pr	  	$	64.19	  	$	125.00
	 OPTION IV
	  	61,737 Pr	  	308,682 Pr	  	$	65.47	  	$	125.00

 Out of Tariff Sizes: 
  

				
	 	  	UNIT
PRICE
	 BASE YEAR
	  	$	125.00
	 OPTION I
	  	$	125.00
	 OPTION II
	  	$	125.00
	 OPTION III
	  	$	125.00
	 OPTION IV
	  	$	125.00

 DESTINATION: 
 DD New Cumberland (W25G1U), DD Tracy (W62G2T), Lion Vallen (SC0102), Travis Association for the Blind (SD0131) and Peckam Vocational Industries (SD0119) 
 See individual delivery orders for CLINS / SUBCLINS 
 Variation in quantity: 2% increase / 2% decrease for sub-line item number (e.g., 0001AA)

 The effective period of this contract is from the date of award through one (1) year thereafter. 
 In accordance with Clause 52.219-9, Small, Small Disadvantaged and Women Owned Small Business, the contractor’s subcontracting plan will be incorporated via
modification upon approval. 

					
	 ALTAMA FOOTWEAR
	  	SPM1C1-07-D-1519	  	PAGE 4 OF 6

 Remit to Address: 
 Altama Delta Corp. 
 P.O. Box 930974 
 Atlanta, GAS 1193 
 Place of Performance – Name and Location of Plants: 
 ALTAMA FOOTWEAR 
 701 MUNICIPAL ROAD 
 SALINAS, PR 007551 
 ALTAMA FOOTWEAR-Mfg 
 340 NATCHEZ TRACE DRIVE 
 LEXINGTON, TN 38351 
 ALTAMA FOOTWEAR-Wrhse 
 10575 Hwy 412 W 
 LEXINGTON, TN 38351 

					
	 ALTAMA FOOTWEAR
	  	SPM1C1-07-D-1519	  	PAGE 5 OF 6

 SECTION G 

 REF. NO. DOC. BEING CONT’D 

 x 52.242-9P13 RESPONSIBILITY FOR ADMINISTRATION AND INSPECTION (MAY 2004) DSCP 
      (a)    CORRESPONDENCE: All pertinent correspondence relative to this contract/order shall be directed to the administration office identified on Page 1 of this contract/order.
Contractor requests for deviations from, or waiver of, specification requirements shall be submitted to the assigned Quality Assurance Representative (QAR). 
  ̈ (b)    PROPERTY ADMINISTRATION 
 (1)    Where Government Furnished Material (GFM) is being provided under the Clothing and Textile Bailment System (DSCP Clause
52.245- 9P03), the responsibility for Property Administration is assigned to the administering office designated on Page 1 of this contract/order. The responsibility for maintenance of the Government’s official property records is retained by
the Defense Supply Center Philadelphia (DSCP), ATTN: DSCP-            . 
 (2)    Where Government Loaned Property (GLP) is being provided (DSCP Clause 52.245-9P02), the responsibility for property administration is retained by the Defense Supply Center Philadelphia. 
 ATTN: DSCP-            . 
 (3)    Where Government Furnished Property (GFP), other than that cited in paragraphs (1) and (2) above, is being provided,
the responsibility for property administration is assigned to the administration office designated on Page 1 of this contract/order. 
      (c)    INSPECTION: Inspection shall be accomplished by the administration office at the contractor’s place of performance unless otherwise indicated below: 
 INSPECTION OFFICE (If other than administration office): 
  
 INSPECTION POINT (If other than place of performance): Destination—New Cumberland Depot 
  
 If a Government QAR has not been assigned by the time inspection service is needed, notify the
cognizant inspection office. 
  ̈
(d)    INSPECTION INSTRUCTIONS: The supplies shall be inspected for compliance with packaging, packing, marking and quantity requirements only. At the discretion of the QAR, the contractor’s test records (protocol)
shall also be reviewed to determine compliance with requirements. 
 x (e)    ADVANCE
NOTIFICATION: Pursuant to FAR Clause 52.246-2. Inspection of Supplies Fixed-Price, the Government hereby requests advance notification that supplies are ready for Government inspection. The contractor shall telephonically notify the Government
QAR at the office indicated in para (c) above seven working days prior to the date supplies are ready for inspection. 
  ̈ (f)    SPECIAL INSTRUCTIONS ON CoCs: The term “Contract Administration Office” as it is used in FAR Clause 52.246-15. Certificate of
Conformance (CoC). shall be interpreted as the Food and Drug Administration office cited in para (c) above. This interpretation applies only to FAR Clause 52.246-15 and shall not apply to any administrative function performed by the office
designated on Page 1, of this contract/order. 
  ̈
252.247-7024 NOTIFICATION OF TRANSPORTATION OF SUPPLIESBY SEA (MAR 2000) DFARS 
      (a)    The Contractor has
indicated by the response to the solicitation provision, Representation of Extent of Transportation by Sea, that it did not anticipate transporting by sea any supplies. If, however, after the award of this contract, the Contractor learns that
supplies, as defined in the 
      Transportation of Supplies by Sea clause of this contract, will be transported by sea. the
Contractor- 
 (1)    Shall notify the Contracting Officer of that fact: and 
 (2)    Hereby agrees to comply with all the terms and conditions of the Transportation of Supplies by Sea clause of this contract.

      (b)    The Contractor shall include this clause, including this paragraph (b), revised as necessary to
reflect the relationship of the contracting parties- 
 (1)    In all subcontracts under this contract, if this contract
is a construction contract: or 
 (2)    If this contract is not a construction contract, in all subcontracts under this
contract that are for- 
 (i)    Noncommercial items: or 
 (ii)    Commercial items that- 

					
	 ALTAMA FOOTWEAR
	  	SPM1C1-07-D-1519	  	PAGE 6 OF 6

 SECTION G 

 REF. NO. DOC. BEING CONT’D 

 (A) The Contractor is reselling or distributing to the Government without adding value (generally, the Contractor docs not add value to items that it subcontracts for f.o.b. destination shipment): 
 (B) Are shipped in direct support of U.S. military contingency operations, exercises, or forces deployed in humanitarian or peacekeeping operations: or

 (C) Are commissary or exchange cargoes transported outside of the Defense Transportation System in accordance with 10 U.S.C. 2643.Waiver and Release between Kenneth Wolf and Phoenix Footwear Group, Inc.

 Exhibit 10.4 
 PHOENIX FOOTWEAR GROUP AND SUBSIDIARIES 
 WAIVER AND RELEASE 
 THIS RELEASE is made November 15, 2007, by Kenneth Wolf, 3575 Avenida Pantera, Carlsbad, CA 92009 (hereinafter
“Employee”), for the benefit of Phoenix Footwear Group, Inc., with offices located at 5840 El Camino Real, Suite 106, Carlsbad, CA 92008 (hereinafter “Phoenix Footwear Group, Inc.”), together with parents, subsidiaries and
affiliates, and the officers, directors, agents, employees, successors and assigns of Phoenix Footwear Group, Inc. and each of the other aforementioned entities (hereinafter Phoenix Footwear Group, Inc. and the other aforementioned persons and
entities to be referred to individually and collectively as the (“The COMPANY”). 
 WHEREAS, Employee and Phoenix Footwear Group,
Inc. mutually agree that Employee’s employment with Phoenix Footwear Group, Inc. will terminate on November 15, 2007 the effective date; and 
 WHEREAS, Employee and Phoenix Footwear Group, Inc. wish to enter into this Agreement for the purpose of resolving any and all claims or disputes that exist or may exist between them through the effective date of this
Agreement. 
 NOW, THEREFORE, in consideration of the mutual promises made and payments provided for herein (“The Settlement”).
Employee and Phoenix Footwear Group, Inc. agree as follows: 
 The COMPANY, in full and complete settlement and satisfaction of all matters
and claims related to Employee’s employment with, and termination of employment from, Phoenix Footwear Group, Inc., will: 
 1.
Separation Payments. Contingent upon Employee’s faithful performance of employee obligations defined under this Waiver and Release the COMPANY agrees to pay to Employee a gross separation payment in the amount of ($150,000.00)
which is equal to (eight months of severance) of the Employee’s regular pay. 
 2. Medical and Dental Insurance,
Employee’s present coverage will be continued during the severance period. Thereafter, in accordance with the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), Employee may choose continuation coverage under the provisions of the
Federal law, for up to eighteen months, provided Employee pays the full cost of the premium, plus a two percent administrative fee. Please refer to the COBRA qualifying event letter which will be sent under separate cover. 

 3. Group Life Insurance. Employee’s coverage will terminate effective the employment termination
date of (11/15/07). 
 4. Short-term Disability and Workers’ Compensation. These coverages cease upon
Employee’s last date of employment, (11/15/07). 
 5. Accrued Vacation Pay. The COMPANY will pay to Employee accrued
vacation pay in the amount of $3510.12 whether or not Employee signs this Waiver and Release. 
 6. All cash payments made to
Employee under this Agreement shall be subject to withholdings for Federal and State income taxes and where applicable for Social Security and Unemployment Compensation taxes. 
 7. If employee is asked to leave prior to November 15, 2007 for any reason (other than fraud and/or conduct issues) employee’s separation
benefits will be unchanged and will begin on that new date. 
 In consideration the payment of the SETTLEMENT to Employee by the COMPANY, and
other good and valuable consideration received, receipt of which is accepted and acknowledged, Employee and COMPANY agree as follows: 
 1.
Employee, on behalf of himself, respective heirs, executors, successors and assigns, hereby fully and forever releases the COMPANY and any respective heirs, executors, successors, agents, officers and directors, from and agree not to sue concerning,
any and all claims, actions, obligations, duties, causes of action, whether now known or unknown, suspected or unsuspected, that employee may possess based upon or arising out of any matter, cause, fact, thing, act, or omission whatsoever occurring
or existing at any time prior to and including the date hereof (collectively, the “Released Matters”), including without limitation, 
 a. Any and all claims relating to or arising from Employee’s employment with the COMPANY and the termination of such relationship; 
 b. Any and all claims relating to, or arising from, Employee’s right to purchase, or actual purchase of, shares of stock of the COMPANY, including, without limitation any claims under a Stock Option Agreement between the parties, any
claims of fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and securities fraud under any state or federal law; 
 c. Any and all claims for wrongful discharge of employment; termination in violation of public policy; discrimination; breach of contract, both express and implied; breach of a covenant of good faith and fair dealing,
both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair
business practices; defamation; libel; slander; negligence; personal injury; assault; battery; invasion of privacy; false imprisonment; and conversion; 
  

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 d. Any and all claims for violation of any federal, state or municipal statute, including, but not
limited to, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Age Discrimination in Employment Act of 1967, the Americans with Disabilities Act of 1990, the Fair Labor Standards Act, the Employee Retirement Income Security
Act of 1974, the Worker Adjustment and Retraining Notification Act, Older Workers Benefit Protection Act, the California Fair Employment and Housing Act, and the California Labor Code section 201, et. seq.; 
 e. Any and all claims for violation of the federal, or any state, constitution; 
 f. Any and all claims arising out of any other laws and regulations relating to employment or employment discrimination; 
 g. Any and all claims for attorneys’ fees and costs; and 
 h. Any and all claims the Employee may have against the COMPANY for any acts occurring at any time prior to the execution of this Release. 
 Each of the parties agrees that the foregoing enumeration of claims released is illustrative, and the claims hereby released are in no way limited by
the above recitation of specific claims, it being the intent of the parties to fully and completely release all claims whatsoever in any way relating to the Employee’ employment with the COMPANY and to the termination of such employment. This
release does not extend to any obligations incurred under this Waiver and Release Agreement or the stock options referred to herein. 
 2.
Employee represents that Employee has no lawsuits, claims or actions pending in Employee’s name, or on behalf of any other person or entity, against the COMPANY or any other person or entity referred to herein. Employee also represents that
Employee does not intend to bring any claims on Employee’s own behalf against the COMPANY or any other person or entity referred to herein. 
 3. Employee acknowledges that employee has been advised by legal counsel and is familiar with Section 1542 of the Civil Code of the State of California, which states: 
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH
IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR. 
 Employee expressly waives any right or benefit which
employee has or may have under Section 1542 of the California Civil Code or any similar provision of the statutory or non-statutory law of any other jurisdiction. The Employee acknowledges that in the future employee may discover claims or
facts in addition to or different from those that they now know or believe to exist with respect to the subject matter of this Release and that the Employee intends to fully, finally, and forever settle all of the Released matters in exchange for
the Settlement. This release will remain in effect as a full and complete release notwithstanding the discovery or existence of any additional claims or facts. 
  

 -3- 

 4. Employee represents and agrees that employee’s employment with Phoenix Footwear Group, Inc. was
terminated effective (11/15/07), and employee waives any right to hereafter seek or apply for employment with the COMPANY. 
 5.
Employee represents and agrees that employee has not disclosed, and will not at anytime disclose, to any person, firm, corporation or entity any confidential or proprietary information concerning the business affairs of the COMPANY which employee
acquired in the course of, or as incident to, employee’s employment, for employee’s own benefit, the benefit of any other person, firm, corporation or entity, or to the detriment or intended or probable detriment of the COMPANY. Employee
agrees that the Employee shall have no proprietary interest in any work product developed or used by Employee and arising out of employment by Phoenix Footwear Group, Inc, including but not limited to all forms of invention (as understood from Title
35 of the United States Code), patents and patent applications (and all divisions, parts and continuations thereof), all copyrightable work, and any trademarks or servicemarks (registered or unregistered) and trade names. Employee shall, from time
to time as may be requested by the COMPANY, do all things which may be necessary to establish or document the COMPANY’S ownership in any such work product including, but not limited to, execution of appropriate copyright, patent and trademark
applications, or assignments. Employee agrees that all papers, documents and equipment which have come into the possession of Employee in the course of business remain the property of Phoenix Footwear Group and/or the COMPANY, and shall not be
disclosed, disseminated, taken, removed from Phoenix Footwear Group, Inc.’s premises or copied without the express written permission of Phoenix Footwear Group, Inc. Employee further agrees that employee will return on or before
November 15, 2007 all records and property in his possession or custody belonging to or relating in any way to the affairs of the COMPANY. 
 6. Employee understands and agrees that this Waiver and Release, the SETTLEMENT and the actions and matters settled and provided for herein, shall not constitute (and may not be construed as) an admission of liability
in any respect by the COMPANY, and Employee agrees to make no such representations to any person or entity. 
 7. In accordance with the
reference policy of the COMPANY, prospective employers will receive information only regarding dates of employment and positions Employee held. If the prospective employer requests salary and compensation information, it will also be disclosed with
the consent of Employee. 
 8. Employee agrees to make themselves available to the company for not more than 4 hours per week during the
first 90 days of the separation period. These hours may be utilized by the company for information and knowledge transfer related services to minimize inconsistencies that may occur to business processes in which the employer was involved. Hours
incurred by the employee related to the aforementioned services do not qualify for additional consideration and are considered essentials to compliance with this Waiver & Release. 
  

 -4- 

 9. Employee represents and agrees that employee is entering into this Waiver and Release freely and
voluntarily, and with a complete understanding of its terms and consequences. Employee further represents and agrees that the COMPANY encouraged employee to review this Waiver and Release with his own private attorney prior to his execution hereof
and that employee has had the opportunity to thoroughly discuss all aspects of this Waiver and Release with a private attorney of his own choosing. 
 10. Employee represents and agrees that the COMPANY offered employee a period of twenty-one (21) days from the date Employee first received this Waiver and Release from the COMPANY to review and consider this Waiver and Release.
Employee further acknowledges (he/she) has seven (7) days from the date of this Waiver and Release to revoke this Waiver and Release. 
 The Separation Period 
 11. Employee further understands and agrees that the SETTLEMENT shall be paid to Employee over eight
months, in accordance with the COMPANY’S normal payroll practice, commencing as soon as reasonably practicable after the aforementioned seven (7) day revocation period has expired, provided the Employee has not revoked this Waiver and
Release as previously described. 
 12. Employee understands and acknowledges that the COMPANY’s purpose for entering into this
Agreement and Release was to avoid litigation. Therefore, if any legal action is instituted by or brought on behalf of Employee against COMPANY, Employee agrees to pay back to COMPANY all monies received as well as any other thing of value received
under this Waiver and Release and to pay COMPANY its costs and attorneys’ fees in such action. 
 a. This paragraph 12 does not apply to
any thing of value given to Employee for which Employee actually performed services and by law Employee is entitled to receive. 
 13.
Employee represents and agrees that employee has read the entire contents of this Waiver and Release and that this Waiver and Release represents the entire understanding and agreement between Employee and the COMPANY, except that it does not replace
or supersede any covenant not to solicit, covenant not to compete or confidentiality agreement previously signed by Employee. Employee agrees that no representations or agreements have been made with respect to these matters other than those
contained in this Waiver and Release. 
 14. Employee agrees that, if any of the provisions of this Waiver and Release shall be deemed
illegal, invalid or unenforceable, such illegality, invalidity or unenforceability shall not invalidate or render unenforceable the entire Waiver and Release, but rather the entire Waiver and Release shall be construed as if not containing the
particular illegal, invalid or unenforceable provision or provisions, and the rights and obligations of Employee and the COMPANY shall be construed and enforced accordingly. Further, under such circumstances, the COMPANY and Employee agree to
exercise their best efforts to carry out the original intention of this Waiver and Release and shall make such amendments and take such steps as may be necessary to ensure the continued validity of this Waiver and Release. 
  

 -5- 

 15. Employee agrees that this Waiver and Release shall be governed by California law and that any action
or proceeding arising out of this Waiver and Release and/or Employee’s employment with Phoenix Footwear Group, Inc. shall be venued in California. 
 EMPLOYEE HAS CONSULTED WITH AN ATTORNEY BEFORE SIGNING THIS RELEASE AND UNDERSTANDS THAT, BY SIGNING THIS RELEASE, EMPLOYEE IS GIVING UP ANY LEGAL CLAIMS EMPLOYEE HAS AGAINST THE COMPANY. EMPLOYEE FURTHER ACKNOWLEDGES
THAT EMPLOYEE DOES SO KNOWINGLY, WILLINGLY, AND VOLUNTARILY IN EXCHANGE FOR THE BENEFITS DESCRIBED IN THIS WAIVER AND RELEASE AGREEMENT. 
  

					
	Dated: 10/23/07	 		 	 

		 		 	Kenneth Wolf
			
	Dated: 10/31/07	 	By:	 	 

		 		 	Phoenix Footwear Group, Inc.

  

 -6-

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