Document:

exv10w43

Exhibit 10.43

December 16, 2009

Mr. Craig Stevenson

Quiksilver, Inc.

15202 Graham Street

Huntington Beach, California 92649

Dear Mr. Stevenson:

Reference is made to that certain letter agreement (the “Agreement”) with respect to your
employment at Quiksilver, Inc. (“Quiksilver”) dated January 19, 2009, as amended. Capitalized
terms used in this letter and not defined herein shall have the meaning ascribed to them in the
Agreement.

Effective as of December 16, 2009, the Agreement shall be amended as follows:

	1.	 	The parties agree to amend and replace Section 7 of the Agreement as follows:

	 	 	“Expatriate Assignment Compensation. The Company agrees to provide you with access
to a company-owned automobile while you are on assignment in the United States, as well as
a company-leased residence.”

Except as expressly amended by this letter, the terms, conditions, covenants and agreements
contained in the Agreement remain unaffected by this letter and continue in full force and effect.
Further, this letter and the Agreement constitute the entire agreement between the parties with
respect to the subject matter set forth herein and therein and supercede all other agreements,
proposals, oral or written statements. Please confirm your agreement by signing and returning one
copy of this letter to the undersigned, whereupon this letter will become a binding agreement
between the parties.

	 	 	 	 	 
	Very truly yours,

 	 	 
	By:  	 	 	 
	 	Name:  	Charles Exon 	 
	 	Title:  	Chief Administrative Officer 	 
	 
	Accepted and agreed to this 16th day of December, 2009

 	 	 
	By:  	 	 	 
	 	Name:  	Craig Stevensonexv10w47

Exhibit 10.47

On December 15, 2009, the Compensation Committee of the Board of Directors of Quiksilver, Inc. (the
“Company”) approved new annual base salaries (effective as of November 1, 2009) for certain of the
Company’s executive officers. The following table sets forth the annual base salary levels of the
Company’s executive officers for fiscal 2010:

	 	 	 	 	 	 	 	 	 
	Name and Position	 	Fiscal Year	 	Base Salary
	Robert B. McKnight, Jr.,
	 	 	2010	 	 	$	1,000,000	 
	Chief Executive Officer and President
	 	 	 	 	 	 	 	 
	Joseph Scirocco,
	 	 	2010	 	 	$	550,000	 
	Chief Financial Officer
	 	 	 	 	 	 	 	 
	Charles S. Exon,
	 	 	2010	 	 	$	500,000	 
	Chief Administrative Officer, Secretary and General Counsel
	 	 	 	 	 	 	 	 
	Pierre Agnes,
	 	 	2010	 	 	$	475,000        	(1)
	President — Quiksilver Europe
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Craig Stevenson,
	 	 	2010	 	 	$	475,000	 
	President — Quiksilver Americas
	 	 	 	 	 	 	 	 

 

			
	(1)	 	Mr. Agnes’s base salary is paid in euros, but has been translated
into U.S. dollars at an exchange rate of 1.30 dollars per euro
for purposes of this disclosure.exv10w49

Exhibit 10.49

CASH COLLATERAL AGREEMENT

JPMORGAN CHASE BANK, N.A. London Branch (the “Bank”) and J.P. Morgan Europe Limited (“JP Morgan
Europe”) have requested and Na Pali SAS (the “Depositor”) has agreed to enter into certain cash
collateral arrangements on the terms and conditions specified in this cash collateral agreement
(the “Cash Collateral Agreement”).

Pursuant to the terms of the Issuance and Reimbursement Agreement dated as of 14 September, 2007
(as such may be amended, varied, novated or supplemented, the “Issuance and Reimbursement
Agreement”) between the Depositor and JP Morgan Europe, and of the Application and Agreement for
Irrevocable Standby Letter of Credit between the Depositor and the Bank dated September 2007 (as
such may be amended, varied, novated or supplemented, the “Application and Agreement”), JP Morgan
Europe agreed to issue a bank guarantee in the amount of EUR 35.6 million and the Depositor agreed
to reimburse the Bank and JP Morgan Europe for any sum which may become payable by either of them
in accordance with the terms of such bank guarantee.

Pursuant to the terms of the Bank Account Pledge Agreement dated as of 19 September, 2008 (as such
may be amended, varied, novated or supplemented, the “Bank Account Pledge Agreement”) among the
Depositor, the Bank, JP Morgan Europe and Société Générale, the Depositor agreed to deposit EUR
35.6 million in the Account (as defined in this Cash Collateral Agreement) and to pledge such
Account and all funds therein to the Bank and JP Morgan Europe as security for the payment and
performance of the Depositor’s obligations under the Issuance and Reimbursement Agreement and under
the Application and Agreement.

This Cash Collateral Agreement has been executed as a deed by the Depositor and signed on behalf of
the Bank and JP Morgan Europe in order to signify the parties’ agreement to the terms and
conditions which follow this page and this Cash Collateral Agreement is intended to be and is
hereby delivered on the date specified below.

	 	 	 	 	 	 	 	 	 
	Date:

	            
         December 2008	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	THE BANK	 	 	 	THE DEPOSITOR
	 
	 	 	 	 	 	 	 	 
	Address:

	 	125 London Wall

London

EC2Y 5AJ

United Kingdom
	 	 	 	Address:
	 	Na Pali SAS

162 rue Belharra

64500 St. Jean De Luz

France
	 
	 	 	 	 	 	 	 	 
	Attention:

	 	Alastair A. Stevenson
	 	 	 	Attention:
	 	Monsieur Pierre Agnès

	 	 	 	 	 	 	 	 	 	 	 
	By:	 	 	 	 	 	EXECUTED as a DEED      )	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 	 	Name: Alastair A. Stevenson	 	 	 	by Na Pali SAS               
    )	 	 
	 

	 	Title: Managing Director	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:
	 	  

Name: Pierre Agnès

Title: Président	 	 

 

 

J.P. MORGAN EUROPE LIMITED

	 	 	 
	Address:

	 	125 London Wall

London

EC2Y 5AJ

United Kingdom
	 
	 	 
	Attention:

	 	Alastair A. Stevenson

	 	 	 	 
	 	 
	By:  	 	 
	 	Name Alastair A. Stevenson 	 
	 	Title:  	Managing Director 	 
	 

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TERMS AND CONDITIONS

	1.	 	Interpretation and Definitions
	 
	1.1.	 	In these terms and conditions:
	 
	 	 	“Account” means account number 38877001 maintained by the Depositor with the Bank or any
redesignation or renewal thereof, into which the Depositor shall deposit EUR 35.6 million on
or before 10 December 2008.
	 
	 	 	“Cash Collateral Agreement” means the cash collateral agreement dated ___December 2008
among the Bank, JP Morgan Europe and the Depositor, of which these terms and conditions form
part.
	 
	 	 	“Default” means the occurrence of any “Default” under and as defined in the Issuance and
Reimbursement Agreement.
	 
	 	 	“Deposit” means the balance from time to time standing to the credit of the Account, and all
rights, benefits and proceeds attaching thereto or arising therefrom or in respect thereof.
	 
	 	 	“Obligations” means any and all of the present and future, actual or contingent, payment and
other obligations owing to the Bank or JP Morgan Europe by the Depositor under or in
connection with the Issuance and Reimbursement Agreement, the Application and Agreement or
this Cash Collateral Agreement.
	 
	 	 	“Successor” means any assignee or successor in title of the Bank or JP Morgan Europe or any
person who, under the laws of its jurisdiction of incorporation or domicile, has assumed the
rights and obligations of the Bank or JP Morgan Europe hereunder or to which under such laws
the same have been transferred.
	 
	1.2.	 	In these terms and conditions, any reference to a “Clause” is, unless otherwise stated, a
reference to a Clause hereof.
	 
	1.3.	 	Clause headings are for ease of reference only.
	 
	2.	 	Charge
	 
	2.1.	 	The Depositor charges the Account and Deposit, with full title guarantee and by way of first
fixed charge, in favour of the Bank and JP Morgan Europe for the payment to the Bank and JP
Morgan Europe and the discharge of all of the Obligations.
	 
	2.2.	 	This Cash Collateral Agreement shall constitute notice to the Bank of the charge referred to
in Clause 2.1 and the Bank hereby acknowledges such notice.
	 
	3.	 	Account and Deposit
	 
	3.1.	 	Subject to Clause 3.3, the Bank (for itself and on behalf of JP Morgan Europe) shall be
entitled, without providing prior notice, to set-off or transfer any amount from time to time
standing to the credit of the Account in or towards satisfaction of all or any part of the
Obligations.
	 
	3.2.	 	Any balance standing to the credit of the Account shall be maintained on the terms that
(except with the Bank’s and JP Morgan Europe’s prior written consent and subject to Clause
3.5) it shall, subject to Clause 3.3, mature on the first time at which (i) there are no
outstanding Obligations, (ii) neither the Bank nor JP Morgan Europe is under any commitment,
obligation or liability (actual or

3

 

	 	 	contingent) to make advances or provide other financial accommodation which, if made or
provided, would give rise to any Obligations, and (iii) the Issuance and Reimbursement
Agreement, the Application and Agreement and the Bank Account Pledge Agreement have been
terminated.
	 
	3.3.	 	If any of the Obligations shall become due and payable and shall not have been paid by close
of business on the same day, then only so much of the Deposit shall mature as equals the
amount of the Obligations which became due and payable and had not been paid by close of
business on that day. At such time as any such balance shall mature or at any time
thereafter, the Bank (for itself and on behalf of JP Morgan Europe) may without providing
prior notice exercise in relation thereto all or any rights of set-off, combination or
consolidation to which the Bank (for itself and on behalf of JP Morgan Europe) may be entitled
under this Cash Collateral Agreement, law or statute, including the transfer and application
from time to time of all or any part of the Deposit in or towards satisfaction of all or any
part of the Obligations.
	 
	3.4.	 	Interest shall accrue on the Account at such rates and be payable on such dates and in such
manner as may be determined from time to time by the Bank in its reasonable discretion. Any
agreement that all or any part of the balance on the Account is to be held on fixed time
deposit shall be for the purpose of calculation and payment of interest only and shall not
prejudice the Bank’s or JP Morgan Europe’s rights or obligations under or pursuant to this
Clause or any other term of this Cash Collateral Agreement.
	 
	3.5.	 	The Depositor shall not be permitted to withdraw any amounts from the Account without the
prior written consent of the Bank which may be withheld by the Bank in its sole discretion;
unless (i) following such withdrawal, the credit balance of the Account is at least equal to
EUR 35.6 million and, (ii) no Default has occurred and is continuing at the time of such
withdrawal.
	 
	3.6.	 	Save with the Bank’s and JP Morgan Europe’s prior written consent, no right, title or
interest in relation to the Account shall be capable of assignment.
	 
	3.7.	 	The provisions of this Clause shall be without prejudice to the provisions of Clause 2.
	 
	4.	 	Effectiveness of Collateral
	 
	4.1.	 	The collateral constituted and the rights, powers and remedies provided by this Cash
Collateral Agreement shall be cumulative, in addition to and independent of every other
security which the Bank or JP Morgan Europe may at any time hold for the Obligations or any
rights, powers and remedies provided by this Cash Collateral Agreement or by law (each a
“Bank’s Right”). No prior security held by the Bank or JP Morgan Europe over the whole or any
part of the Account and Deposit shall merge in the collateral hereby constituted.
	 
	4.2.	 	This Cash Collateral Agreement shall remain in full force and effect as a continuing
arrangement unless and until the Bank and JP Morgan Europe discharge it.
	 
	4.3.	 	No failure on the Bank’s or JP Morgan Europe’s part to exercise, or delay on its part in
exercising, any Bank’s Right shall operate as a waiver thereof, nor shall any single or
partial waiver of a Bank’s Right preclude any further or other exercise of that Bank’s Right
or the exercise of any other Bank’s Right.
	 
	4.4.	 	Subsection (1) of Section 93 of the Law of Property Act 1925 shall not apply to this Cash
Collateral Agreement.

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	5.	 	Account
	 
	5.1.	 	If the Bank or JP Morgan Europe at any time receives notice of any subsequent mortgage,
assignment, charge or other interest affecting all or any part of the Account and Deposit, all
payments thereafter made by the Depositor to the Bank shall be treated as having been credited
to a new account of the Depositor and not as having been applied in reduction of the
Obligations at the time when the Bank or JP Morgan Europe received notice.
	 
	5.2.	 	All monies received, recovered or realised by the Bank (for itself and on behalf of JP Morgan
Europe) under this Cash Collateral Agreement (including the proceeds of any conversion of
currency) may in its discretion be credited to and held in any suspense or impersonal account
pending their application from time to time in or towards the discharge of any of the
Obligations.
	 
	6.	 	Costs, Charges and Expenses
	 
	 	 	All the Bank’s and JP Morgan Europe’s costs, charges and expenses incurred in the exercise
of any Bank’s Right, or in connection with the execution of or otherwise in relation to this
Cash Collateral Agreement or in connection with the enforcement of the collateral hereby
constituted, shall be reimbursed to the Bank or JP Morgan Europe, as applicable, by the
Depositor on demand on a full indemnity basis together with interest from the date of such
demand to the date such payment was received at such rate or rates as the Bank or JP Morgan
Europe, as applicable, may determine in relation to the currency involved; provided,
that the legal fees of counsel to the Bank and JP Morgan Europe to be paid by the Depositor
in connection with the drafting and negotiation of this Cash Collateral Agreement shall be
limited to US$10,000.
	 
	7.	 	Currency Conversion
	 
	 	 	For the purpose of or pending the discharge of any of the Obligations the Bank (for itself
and on behalf of JP Morgan Europe) may convert any money received, recovered or realised or
subject to application by it under this Cash Collateral Agreement from one currency to
another, as the Bank may think fit; and any such conversion shall be effected at the Bank’s
spot rate of exchange for the time being for obtaining such other currency with the first
currency.
	 
	8.	 	Notices
	 
	8.1.	 	Any notice or demand to be served on the Depositor under or pursuant to this Cash Collateral
Agreement may be served by hand delivery or overnight courier service to the Depositor’s
address specified on the first page of this Cash Collateral Agreement or posting the same (by
prepaid first-class post) by letter addressed to such address, or by facsimile to any
facsimile number notified by the Depositor to the Bank. Any notice or demand to be served on
the Depositor shall be effective when the Bank has received confirmation that such notice or
demand was delivered to the Depositor.
	 
	8.2.	 	Any notice or demand to be served on the Bank or JP Morgan Europe under or pursuant to this
Cash Collateral Agreement may be served by hand delivery or overnight courier service to the
Bank’s address specified on the first page of this Cash Collateral Agreement or posting the
same (by prepaid first-class post) by letter addressed to such address, or by facsimile to any
facsimile number notified by the Bank to the Depositor. Any notice or demand to be served on
the Bank or JP Morgan Europe shall be effective when the Depositor has received confirmation
that such notice or demand was delivered to the Bank.
	 
	9.	 	Assignments and Successors
	 
	9.1.	 	The Depositor may not assign or otherwise dispose of any right or interest under this Cash
Collateral Agreement or in respect of the Account without the Bank’s and JP Morgan Europe’s
prior written consent.

5

 

	9.2.	 	This Cash Collateral Agreement shall remain in effect despite any amalgamation or merger
(however effected) relating to the Bank or JP Morgan Europe; and references to the Bank or JP
Morgan Europe shall be deemed to include their Successors, as applicable.
	 
	9.3.	 	These terms and conditions may be enforced only by a party to it or such party’s Successors.
	 
	10.	 	Term and Release
	 
	10.1.	 	This Cash Collateral Agreement shall terminate when (i) there are no outstanding Obligations
and (ii) neither the Bank nor JP Morgan Europe is under any commitment, obligation or
liability (actual or contingent) to make advances, fund any draws under any letter of credit
or provide other financial accommodation which, if made or provided, would give rise to any
Obligations.
	 
	10.2.	 	After the performance and payment in full of the Obligations and the termination of this
Cash Collateral Agreement, at the reasonable request of the Depositor, accompanied by such
certificates, opinions, instruments and other documents as the Bank, may reasonably require,
the Bank shall as soon as reasonably practicable, at the expense of the Depositor, execute
instruments, in form and substance reasonably satisfactory to the Bank and the Depositor,
acknowledging the satisfaction and discharge of the Obligations and shall return to the
Depositor any sums which remain credited to the Account. As from such date of release, and
upon the Depositor’s reasonable request, the Bank, shall give to the Depositor, at the
Depositor’s cost, a written release of this Cash Collateral Agreement and the charge granted
hereunder, in form and substance reasonably satisfactory to the Bank and the Depositor.
	 
	11.	 	Law and Jurisdiction
	 
	 	 	This Cash Collateral Agreement shall be governed by English law and for the Bank’s and JP
Morgan Europe’s benefit the Depositor irrevocably submits to the jurisdiction of the English
courts (without limiting the right of either party to take proceedings in any other court
of competent jurisdiction).

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