Document:

bws10q2qex10_1b.htm

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
10.1b

    
 

    BROWN
SHOE COMPANY, INC.

    INCENTIVE
AND STOCK COMPENSATION PLAN OF 2002, as AMENDED and
RESTATED

    

    NON-QUALIFIED STOCK OPTION AGREEMENT

    

    Brown
Shoe Company, Inc., a New York corporation (the “Company”), grants to Optionee,
a Non-Qualified Stock Option to purchase shares of the Company’s Common Stock,
$.01 par value (“Common Stock”), pursuant to the provisions of the Incentive and
Stock Compensation Plan of 2002, as Amended and Restated as of May 22, 2008 (the
“Plan”), and subject to the key terms set forth below and the attached General
Terms and Conditions (dated as of May 22, 2008), all of which constitute
part of this Agreement (the “Stock Option”), as follows:

    

    1.      Optionee:___________________

    

    2.      Date of Grant:
__________________

    

    3.      Option Shares: ________ shares
of Common Stock

    

    4.      Option Exercise
Price:_________________

    

    5.      Expiration Date of Stock
Option:  _________________ (10 years from Date of
Grant)

    

    6.      Vesting
Schedule:  Optionee has the right to purchase the Option Shares
as follows:

     

    
      	
               (a)

            	 	 after
      one (1) year from the Date of Grant, up to twenty-five percent (25%) of
      the Option Shares;
	
               (b)

            	 	 after
      two (2) years from the Date of Grant, up to fifty percent (50%) of
      the  Option Shares;
	
               (c)

            	 	 after
      three (3) years from the Date of Grant, up seventy-five percent (75%) of
      the Option Shares; and
	
               (d)

            	 	 after
      four (4) years from the Date of Grant, up to one hundred percent (100%) of
      the Option Shares.

    

     

    7.      Exercise Following
Termination:  see Section 1(c) of
attached General Terms and Conditions, but no later than Expiration
Date

    

    8.      Date of Compensation Committee
Approval:    __________________

    

    9.      Type of
Option:  Non-Qualified

    
       

      
        	 	 BROWN
      SHOE COMPANY, INC.
	 	 
	 	 By:
      _________________________________________
	 	       
      Sarah Stephenson, Vice President – Total
Rewards

      

       

       

    

    Accepted:   _________________________

    Optionee

    Date:_____________________________

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    General Terms and Conditions
(as of May 22, 2008) for Non-Qualified Stock Options

    Incentive and Stock
Compensation Plan of 2002, as Amended and Restated as of May 22,
2008

    

    1.   Conditions and Limitations on Right To Exercise Option
.

     

    
      	
               

            	 (a)	 Time for Exercise.  This
      Stock Option may not be exercised as to any Option Shares until such
      Option Shares are vested or after the Expiration Date.
	 	 	 
	
               
      

            	
              (b)

            	
              Exercise While on Leave of Absence.  This
      option may not be exercised by the Optionee while on a leave of absence
      until he has returned to active employment with the Company, unless such
      exercise is expressly approved in writing by the Compensation
      Committee.

            

    

    
      	 	 	 
	
               
      

            	
              (c)

            	
              Exercise if No Longer an Employee.

            

    

    
      	
               
      

            	
              (1)

            	
              Termination.  Except
      as set forth in subsection (c)(2), this Stock Option must be exercised by
      the Optionee only while he is an employee of the Company or one of its
      subsidiaries (as defined in Section 424(f) of the Internal Revenue Code of
      1986, as amended (the "Code”)), or within sixty (60) days after
      termination as an employee, but not later than the Expiration
      Date.

            

    

    
      	 	 	 
	
               
      

            	
              (2)

            	
              Death.  If
      the Optionee dies while employed by the Company or one of its subsidiaries
      or dies within sixty (60) days after termination of such employment, this
      Stock Option may be exercised to the extent the Optionee was entitled to
      exercise it at the date of his death, by a legatee or legatees of the
      Optionee under his last will, or by his personal representatives or
      distributees at any time within one (1) year after his death, but not
      later than the Expiration Date.

            

    

    
2.   Method of Exercise of Option and Payment of Option Price.

    
    

    
      	
               
      

            	
              (a)

            	
              Exercise.  This
      Stock Option may be exercised (in whole or in part) at any time or from
      time to time after the option is vested and exercisable as provided in
      this Option Agreement and before the termination of said right, by
      delivering to the Vice President-Total Rewards of the Company or by
      sending by registered mail or Express Mail, postage prepaid or by
      recognized courier service to the Company to the attention of the Vice
      President-Total Rewards: (i) using such form as the Company may require, a
      written request designating the number of Option Shares to be purchased,
      signed by the Optionee or the purchaser acting under Section 1(c)(2)
      hereof, (ii) payment to the Company of the full purchase price of the
      shares of Common Stock with respect to which the Stock Option is
      exercised, and (iii) payment of applicable tax amounts, if required as
      provided in Section 4.  A stock option exercise form will be
      provided upon request to the Vice President-Total
  Rewards.

            

    

    

    
      	
               
      

            	
              (b)

            	
              Payment.  The
      purchase price upon the exercise of this Stock Option may be paid as
      follows: (i) in cash, or (ii) by having the
      Company withhold from the Option Shares otherwise issuable upon exercise
      of the Stock Option that number of Option Shares having a fair market
      value equal to the amount of the Option Price applicable to the exercise;
      or (iii) by the tender (either actual or by attestation) to the
      Company of shares of the Common Stock owned by the Optionee for a period
      of at least six (6) months prior to the date of tender, which shares are
      registered in the Optionee’s name and have a fair market value equal to
      the cash exercise price of the option being exercised; or (iv)
      in the discretion of the Compensation Committee, by any combination of the
      payment methods specified in clauses (i), (ii) and (iii) hereof, or (v)
      cashless exercise as permitted under Federal Reserve Board’s Regulation T,
      subject to applicable securities law restrictions.  Any
      determination of fair market value pursuant to this subsection 2(b) or
      Section 4 shall be made in such appropriate manner as may be determined by
      the Compensation Committee or as may be required in order to comply with,
      or to conform to the requirements of, any applicable law or
      regulation.

            

    

    

    3.  Issuance and
Delivery of Shares.

    If and when the Company is required to
issue or deliver any Options Shares, such issuance shall be made by book entry
by the Company’s transfer agent and registrar, and a physical share certificate
shall not be issued or delivered unless specifically requested by the
Optionee.  The Company may condition the issuance or delivery of the
Option Shares, or impose restrictions on the transferability of Option Shares,
as it may deem advisable, including, without limitation, to comply with
applicable federal and securities laws or the requirements of any stock
applicable to the Option Shares.

    

    4.  Witholding
Tax.

    Upon
exercise of this Stock Option, the Company shall have the power and the right to
deduct or withhold, or require the Optionee to remit to the Company, an amount
sufficient to satisfy applicable taxes.  The Optionee may elect to
satisfy the withholding requirement, in whole or in part, by having the Company
withhold Option Shares having a fair market value on the date the tax is to be
determined equal to the minimum statutory total tax which could be imposed on
the transaction.  All such elections shall be irrevocable, made in
writing on such form as the Company may require, signed by the Optionee, and
shall be subject to any restrictions or limitations that the Board, in its sole
discretion, deems appropriate.

    

    5.  Miscellaneous.

    
      
        	
                 
      

              	
                (a)

              	
                Rights in Shares Prior to Issuance.  Prior
      to issuance of the Option Shares pursuant to the exercise of rights
      granted hereunder, whether by book entry or by physical certificate,
      neither the Optionee nor his legatees, personal representatives, or
      distributees, shall be deemed to be a holder of any Option
      Shares.

              

      

      
        	 	 	 
	
                 
      

              	
                (b)

              	
                Adjustment Upon Changes in Capitalization.  In
      the event that there is a change in the Common Stock of the Company by
      reason of stock dividends, split-ups, recapitalizations, mergers,
      consolidations, reorganizations, combinations or exchanges of shares, then
      the number and class of shares available for options and the number of
      shares subject to any outstanding options and the price thereof, shall be
      appropriately adjusted by the Compensation
  Committee.

              

      

      
        	 	 	 
	
                 
      

              	
                (c)

              	
                Non-Assignability.  This
      Stock Option shall not be transferable by the Optionee otherwise than by
      will or by the laws of descent and distribution and may be exercised,
      during his lifetime, only by the
Optionee.

              

      

      
        	 	 	 
	
                 
      

              	
                (d)

              	
                Right to Continued Employment.  Nothing
      in this Option Agreement shall confer on any individual any right to
      continue in the employ of the Company or a subsidiary or interfere with
      the right of the Company or a subsidiary to terminate his employment at
      any time.

              

      

      
        
          	 	 	 
	
                   
      

                	
                  (e)

                	
                  Interpretation.  The
      option granted herein shall in all respects be subject to and governed by
      the provisions of the Plan in effect from time to time, provided that no
      amendment or modification to the Plan made subsequent to the grant date of
      this Stock Option shall adversely affect
      in any material way this Stock Option without the written consent of the
      Optionee.  This Agreement shall in all respects be so
      interpreted and construed as to be consistent with this
      intention.  By way of an example, the Change of Control
      provisions set forth in the Plan shall apply to this
      option.  If there is any
      inconsistency between the terms of this Stock Option Agreement and the
      terms of the Plan, the Plan’s terms shall completely supersede and replace
      the conflicting terms of this Stock Option
    Agreement.

                

        

        
          	 	 	 
	
                   
      

                	
                  (f)

                	
                  Amendment.  The
      Stock Option may be amended by the Compensation Committee at any time (i)
      if the Compensation Committee determines, in its sole discretion, that
      amendment is necessary or advisable on account of any addition to, or
      change in, the Internal Revenue Code of 1986, as amended, or in the
      regulations issued thereunder, or any federal or state securities law or
      other law or regulation, which changes occurs after the Date of Grant and
      by its terms applies to this Stock  Option; or (ii) other than
      in the circumstances described in Clause (i) above, with the consent of
      the Optionee.

                

        

        
          	 	 	 
	
                   
      

                	
                   (g)

                	
                  Construction.  The
      validity, construction, interpretation and effect of this instrument shall
      be governed by and determined in accordance with the laws of the state of
      Missouri without respect to any conflict of laws doctrine which might
      otherwise apply.

                
	 	 	 
	 	 (h)	 Non-Qualified Stock
      Option.  This Option is not intended by the parties to
      be, and shall not be treated as, an incentive stock option (as such term
      is defined under Section 422 of the Internal Revenue Code of 1986, as
      amended).bws10q2qex10_1c.htm

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
10.1c

    

    RESTRICTED
STOCK AWARD AGREEMENT - Employee

    

    BROWN
SHOE COMPANY, INC.

    

    

    THIS AGREEMENT represents the grant of
a Restricted Stock Award (the “Award”) by Brown Shoe Company, Inc., a New York
corporation (the “Company”), to the Participant named below, pursuant to the
provisions of the Incentive and Stock Compensation Plan of 2002, as Amended and
Restated as of May 22, 2008 (the “Plan”), as follows:

    

    1.   Terms of the
Award.  The terms of the Award are as follows:

     

    Participant:  «First_Name»
«Middle_Init» «Last_Name»

     

    Award Grant Date:  _____,
200_ [**date of board or committee approval]

     

    Number of Restricted
Shares:     ___ Shares of Brown Shoe Company,
Inc. Common Stock, subject to certain restrictions

     

    Vesting Schedule  (Lapse of
Restrictions): ____ __, 201_ as to 100% of the Restricted Shares [** 4th
anniversary of the Grant Date]

     

    

    2.  Restrictions

    

    The
Restricted Shares are restricted as to disposition and may not be pledged; and
are subject to forfeiture unless certain conditions are met.  The
Company’s transfer agent has been advised that the Restricted Shares cannot be
sold, transferred, re-registered or disposed of until the restrictions on the
shares lapse.  Restricted Shares shall vest, and the restrictions
shall no longer apply, as to the number or percentage of Restricted Shares and
on the dates specified above as the “Vesting Schedule.” A further restriction on
the Restricted Shares is that you shall only be entitled to receive Shares free
of restrictions if, at the time of the lapse of such restrictions, you are then
in the employ of the Company and shall have been continuously so employed since
the date of grant of the Restricted Shares.  If you do not meet these
conditions at any time, such Shares shall be forfeited.

    

    3.  Voting Rights and Dividend
Rights

    

    You will
be entitled to full voting rights and dividend rights for all Restricted Shares,
beginning with the date of grant, regardless of restriction
periods.  Dividends may be paid directly to you or may be credited to
your dividend re-investment plan account.  Dividend rights and voting
rights will be cancelled in the event the Restricted Shares are
forfeited.

    

    4.  Book Entry for Restricted
Shares.  You will not receive a certificate for the Restricted
Shares; instead, the Restricted Shares will be credited as a book entry to an
account in your name with the Company’s transfer agent.  At such time
as the restrictions lapse, those Shares that are no longer subject to
restrictions shall be transferred to a non-restricted account in your name with
the transfer agent or as otherwise directed by you and agreed by the
Company.

    

    5.  Death or
Retirement.  In the event of termination of employment due to
death, retirement at age 65, or early retirement approved by the Compensation
Committee, all Restricted Shares shall vest immediately and be free of
restrictions.

    

    6. Change in
Control.  Subject to Article 2.7 and Article 13 of the Plan,
unless otherwise specifically prohibited under applicable laws, or by the rules
and regulations of any governing governmental agencies or national securities
exchange, the Restricted Shares still subject to restrictions under this
Agreement shall automatically vest and all restrictions shall lapse as of the
vest and all restrictions shall lapse upon the occurrence of a Change in
Control.

    

    7.  Adjustment Upon Changes in Capitalization.  In
accordance with Section 4.2 of the Plan, in the event that there is a change in
the Common Stock of the Company by reason of stock dividends, split-ups,
recapitalizations, mergers, consolidations, reorganizations, combinations or
exchanges of shares, then the Restricted Shares shall be adjusted in the same
manner as other shares of  Common Stock are adjusted.

    

    8.  Tax
Withholding.  The Board shall have the power and the right to
deduct or withhold, or require the Participant to remit to the Company, an
amount sufficient to satisfy Federal, state, and local taxes, domestic or
foreign, required by law or regulation to be withheld with respect to any
taxable event arising as a result of the Award.

    

    9. 
Share
Withholding.  With respect to withholding upon the lapse of
restrictions on the Restricted Shares, or upon any other taxable event arising
as a result of this grant of Restricted Shares, the Participant may elect,
subject to the approval of the Board, to satisfy the withholding requirement, in
whole or in part, by having the Company withhold Shares having a Fair Market
Value on the date the tax is to be determined equal to the minimum statutory
total tax which could be imposed on the transaction.  All such
elections shall be irrevocable, made in writing, signed by the Participant, and
shall be subject to any restrictions or limitations that the Board, in its sole
discretion, deems appropriate.

    

    10.  Nontransferability.  This
Agreement and the Restricted Shares granted hereunder, until such time as the
restrictions on the Shares have lapsed, may not be sold, transferred, pledged,
assigned, or otherwise alienated or hypothecated, other than by will or by the
laws of descent and distribution.

    

    11. 
Administration and
Interpretation.  This Award Agreement and the rights of the
Participant hereunder are subject to all terms and conditions of the Plan, as
the same may be amended from time to time, as well as to such rules and
regulations as the Board may adopt for administration of the Plan.  It
is expressly understood that the Board is authorized to administer, construe,
and make all determinations necessary or appropriate to the administration of
the Plan and this Award Agreement, all of which shall be binding upon the
Participant.  The Board may delegate to the Compensation Committee all
determinations with respect to the Plan and this Award Agreement.  All
capitalized terms used in this Award Agreement shall have the meanings ascribed
to them in the Plan, unless specifically set forth otherwise
herein.  If there is any inconsistency between the terms of this Award
Agreement and the terms of the Plan, the Plan’s terms shall completely supersede
and replace the conflicting terms of this Award Agreement.

    

    12.  Miscellaneous

    
      	
               
      

            	
              (a)

            	
              This
      Award Agreement shall not confer upon the Participant any right to
      continuation of employment by the Company, nor shall this Award Agreement
      interfere in any way with the Company’s right to terminate his or her
      employment at any time.

            
	 	 	 
	 	(b)	 The
      Board may terminate, amend, or modify the Plan; provided, however, that no
      such termination, amendment, or modification of the Plan may in any way
      adversely affect the Participant’s rights under this Award Agreement
      without the Participant’s written consent.
	 	 	 
	 	(c)	 This
      Award Agreement shall be subject to all applicable laws, rules, and
      regulations, and to such approvals by any governmental agencies or
      national securities exchanges as may be required.
	 	 	 
	 	(d)	To
      the extent not preempted by Federal law, this Award Agreement shall be
      construed in accordance with and governed by the substantive laws of the
      State of Missouri without regard to conflicts of laws principles, which
      might otherwise apply.  Any litigation arising out of, in
      connection with, or concerning any aspect of the Plan or this Award
      Agreement shall be conducted exclusively in the State or Federal courts in
      Missouri.

    

     

     

    IN WITNESS WHEREOF, the parties have
caused this Agreement to be executed effective as of date written
below.

    

    

     

    
      	 	 BROWN
      SHOE COMPANY, INC.
	 	 
	 	 By:
      _________________________________________
	 	       
      Sarah Stephenson, Vice President – Total Rewards
	 	 
	 	 Date:
      _______________________________

    

     

     

    

    

    Accepted:
____________________________

    Participant

     

    Date:______________________

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