Document:

<PAGE>
                                                                  Exhibit 10.105

                                 AMENDMENT NO. 1
                                       TO
                       JUNIOR SECURED DEBTOR-IN-POSSESSION
                            CREDIT FACILITY AGREEMENT

      This AMENDMENT NO. 1 TO JUNIOR SECURED DEBTOR-IN-POSSESSION CREDIT
FACILITY AGREEMENT, dated as of May 19, 2005 (this "Amendment"), is by and among
(a) US AIRWAYS, INC., a Delaware corporation, as Borrower (the "Borrower"), (b)
US AIRWAYS GROUP, INC., a Delaware corporation (the "Parent"), PSA AIRLINES,
INC., a Pennsylvania corporation, PIEDMONT AIRLINES, INC., a Maryland
corporation, and MATERIAL SERVICES COMPANY, INC., a Delaware corporation, as
Guarantors (collectively, the "Guarantors"), each of Borrower and Guarantors
(collectively, the "Loan Parties") being a debtor and debtor-in-possession in a
case pending under Chapter 11 of the Bankruptcy Code, and (c) EASTSHORE
AVIATION, LLC, as Lender (the "Lender").

                              W I T N E S S E T H:

      WHEREAS, Borrower, Parent, the Guarantors and Lender are parties to a
Junior Secured Debtor-In-Possession Credit Facility Agreement, dated as of
February 18, 2005 (the "Credit Facility" and, as amended by this Amendment, the
"Agreement"), providing for, among other things, a DIP Credit Facility to be
provided to Borrower by Lender;

      WHEREAS, Parent has subsequently executed those certain Investment
Agreements (each an "Investment Agreement" and collectively the "Investment
Agreements"), each dated as of May 19, 2005, with Par Investment Partners, L.P.,
Peninsula Investment Partners, L.P. and ACE Aviation Holdings Inc., respectively
(each an "Other Investor" and collectively the "Other Investors"), pursuant to
which the Other Investors have agreed to invest in Parent, subject to the terms
and conditions contained in the Investment Agreements; and

      WHEREAS, Parent has entered into that certain Agreement and Plan of Merger
(the "Merger Agreement"), dated as of May 19, 2005, by and among Parent, America
West Holdings Corporation ("West") and Barbell Acquisition Corp. ("Merger Sub"),
attached hereto as Exhibit A, pursuant to which Merger Sub is to be merged with
and into West (the "Merger"); and

      WHEREAS, in light of the proposed Merger and investments by the Other
Investors, the parties hereto wish to enter into this Amendment to amend certain
terms of the Credit Facility to provide for the conversion of the Loans under
the Credit Facility into New Common Stock of the Company upon consummation of
the Merger and the investments by the Other Investors.
<PAGE>
      NOW, THEREFORE, in consideration of the premises and the mutual terms,
conditions and agreements set forth herein, and for other good and valuable
consideration the receipt and sufficiency of which are hereby acknowledged, and
intending to be legally bound, the parties hereto hereby agree as follows:

      SECTION 1. Certain Defined Terms. Capitalized terms used but not defined
in this Amendment shall have the meanings given to such terms in the Credit
Facility.

      SECTION 2. Effectiveness of this Amendment. This Amendment (except for
Section 3 of this Amendment) shall be effective upon the satisfaction or waiver
of each condition to Lender's obligations contained in the Investment Agreement
attached hereto as Exhibit A (the "Lender Investment Agreement"). If the Closing
does not occur under the Lender Investment Agreement, the Credit Facility shall
remain unchanged. In any event, all provisions of the Credit Facility not
specifically amended by this Amendment will remain unchanged and in full force
and effect. Section 3 of this Amendment is effective as of the date hereof.

      SECTION 3. Amendment to Section 2.02(c). Section 2.02(c) of the Credit
Facility is amended to read in its entirety as follows:

"(c) a $25 million single lump sum advance (the "Tranche C Loan") on the latest
of (i) June 24, 2005, (ii) three Business Days after the Lender has delivered
any aircraft to the Borrower pursuant to the JSA Agreement; and (iii) the entry
by the Bankruptcy Court of an order approving the Disclosure Statement in the
Chapter 11 Case; provided, however, that in no event shall such advance occur
later than September 30, 2005 (such later date, the "Tranche C Borrowing Date"),
and provided further, however, that in the event that the Maturity Date shall
have occurred prior to the Tranche C Borrowing Date (such event being referred
to as a "Maturity Event"), then (x) if the Maturity Event arises as a result of
the occurrence of the Effective Date and the Borrower's repayment of the Loans
by means of the Shares Repayment Alternative prior to the Maturity Date, the
Lender shall remit to the Reorganized Parent an amount equal to the Tranche C
Loan on the Tranche C Borrowing Date, not as a Loan, but as an equity payment in
consideration of the New Common Stock issued to the Lender pursuant to the Share
Repayment Alternative, in full satisfaction of the obligation of the Lender and
the Borrower in respect of the Tranche C Loan, and (y) if such Maturity Event
arises for any reason other than the occurrence of the Effective Date prior to
the Maturity Date, then neither the Lender nor the Borrower shall have any
further obligation with respect to the Tranche C Loan. Notwithstanding the
foregoing, if the Tranche C Borrowing Date occurs at any time in which a
break-up fee of $3,000,000 may be payable pursuant to Section 8.02(b) of the
Investment Agreement with Par Investment Partners, L.P., a break-up fee of
$1,500,000 may be payable pursuant to Section 8.02(b) of the Investment
Agreement with Peninsula Investments Partners, L.P. or any other similar
break-up fee may be payable to any other investor, then an amount equal to the
aggregate amount of such break-up fees shall be withheld from the Tranche C Loan
and placed in an escrow account (the "Escrow") on terms reasonably acceptable to
the Lender. Upon any payment of any such break-up fees other than in connection
with an investment by a replacement investor pursuant to the Bidding Procedures
(as defined in the Investment Agreements), funds in the Escrow equal to the

                                       2
<PAGE>
amount of the break-up fees paid shall be released from the Escrow and returned
to the Lender, and upon such time as it is determined that any such break-up
fees will not in any event be payable (whether due to the closing of the related
investment or otherwise) or upon the approval by the Bankruptcy Court of a
replacement investor pursuant to the Bidding Procedures which results in any
such break-up fees being paid, then funds in the Escrow equal to the amount of
such break-up fees will be released to the Borrower as part of the Tranche C
Loan. Funds in the Escrow will not be considered part of the Tranche C Loan and
will not accrue interest hereunder unless and until released to the Borrower,
and upon the occurrence of any Event of Default any funds in the Escrow will be
released to the Lender.

      SECTION 4. Amendment to Section 2.04(a). Section 2.04(a) of the Credit
Facility is amended to read in its entirety as follows:

      "(a) Subject to Section 2.11 hereof, the Borrower hereby unconditionally
promises to pay, in cash, to the Lender the aggregate outstanding principal
amount of each of the Loans on the Maturity Date; provided, however, that if the
Borrower shall not have prepaid the Loans pursuant to Section 2.05, and the
Chapter 11 Plan shall become effective, the Reorganized Parent shall issue to
the Lender under the Chapter 11 Plan, in lieu of a cash payment, and the Lender
shall accept in full satisfaction of Borrower's obligations to repay the Loans
(the "Shares Repayment Alternative"), that number of shares of common stock of
the Reorganized Parent (the "New Common Stock") as provided in the Lender
Investment Agreement."

      Schedule 1 of the Credit Facility is hereby deleted in its entirety.

      SECTION 5. Deletion of Section 6.09(b). Section 6.09(b) of the Credit
Facility is deleted in its entirety, and replaced by the following:

      "(b) INTENTIONALLY OMITTED"

      SECTION 6. Deletion of Section 6.09(c). Section 6.09(c) of the Credit
Facility is deleted in its entirety, and replaced by the following:

      "(c) INTENTIONALLY OMITTED"

      SECTION 7. Amendment to Section 6.09(d). Section 6.09(d) of the Credit
Facility is amended to read in its entirety as follows:

      "(d) Stockholders Agreement. The Lender and the Reorganized Parent each
agrees to enter into a stockholders agreement with the other Substantial
Investor(s), substantially in the form attached hereto as Exhibit C."

      SECTION 8. Deletion of Section 6.09(e). Section 6.09(e) of the Credit
Facility is deleted in its entirety, and replaced by the following:

      "(e) INTENTIONALLY OMITTED"

                                       3
<PAGE>
      SECTION 9. Amendment to Section 9.03(a). Section 9.03(a) of the Credit
Facility is amended to read in its entirety as follows:

      "(a) Subject to Section 2.11 hereof, the Loan Parties jointly and
severally agree to pay in accordance with the provisions of the DIP Order all
reasonable out-of-pocket expenses incurred by the Lender, including the
reasonable fees, charges and disbursements of counsel for the Lender (i) whether
or not the transactions contemplated hereby are consummated, in connection with
the Lender's due diligence investigation of the Loan Parties, the negotiation of
the term sheet related to the DIP Credit Facility, the negotiation, execution
and delivery of this Agreement and the other Loan Documents, (ii) in connection
with consummation of the transactions contemplated by this Agreement, the Merger
Agreement, the Lender Investment Agreement and the other Loan Documents, (iii)
in connection with the Lender's participation in the Chapter 11 Case and the
formulation of the Chapter 11 Plan, (iv) in connection with the enforcement or
protection of its rights under this Agreement and the other Loan Documents upon
entry of the final DIP Order, and (v) in connection with the preservation of, or
the sale of, collection from or other realization upon any of the Collateral;
provided, however, that reimbursement pursuant to clause (i) through (iv) above
shall not exceed the sum of: $350,000 plus (b) filing fees, incurred in
connection with any required filings under the Hart Scott Rodino Antitrust
Improvements Act of 1976, as amended."

      SECTION 10. Ratification of Credit Facility. Except as expressly amended
by the provisions hereof, the Credit Facility shall remain in full force and
effect in accordance with the terms and provisions thereof, which terms and
provisions are hereby ratified and confirmed in all respects by the Parties
hereto. Except as expressly provided herein, this Amendment shall not be deemed
to be a waiver of or consent to, or a modification or amendment of, any other
term or condition contained in the Credit Facility or any other agreement,
document or instrument delivered pursuant thereto, or to prejudice any other
rights which any party to the Credit Facility may now have or may have in the
future under or in connection with the Credit Facility or any such other
agreement, document or instrument, as the same may be amended or otherwise
modified from time to time. On and after the date of this Amendment, each
reference in the Credit Facility to "this Agreement," "hereunder," "herein" or
words of like import shall mean and be a reference to the Credit Facility as
amended by this Amendment.

      SECTION 11. The provisions of Article IX of the Credit Facility are hereby
incorporated by reference in this Amendment, mutatis mutandis, with the same
force and effect as if set forth herein.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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<PAGE>
      IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed by their respective authorized officers as of the day and year
first above written.

                                    US AIRWAYS, INC.,
                                    Debtor and Debtor-in-Possession,
                                    as Borrower,

                                    By: /s/ Bruce R. Lakefield
                                       -----------------------------
                                       Name:  Bruce R. Lakefield
                                       Title: President and Chief
                                              Executive Officer

                                    US AIRWAYS GROUP, INC.,
                                    Debtor and Debtor-in-Possession,
                                    as Guarantor,

                                    By: /s/ Bruce R. Lakefield
                                       -----------------------------
                                       Name:  Bruce R. Lakefield
                                       Title: President and Chief
                                              Executive Officer

                                    PSA AIRLINES, INC.,
                                    Debtor and Debtor-in-Possession,
                                    as Guarantor,

                                    By: /s/ Keith D. Houk
                                       -----------------------------
                                       Name:  Keith D. Houk
                                       Title: President and Chief
                                              Executive Officer

                                    PIEDMONT AIRLINES, INC.
                                    Debtor and Debtor-in-Possession,
                                    as Guarantor,

                                    By: /s/ Stephen R. Farrow
                                       -----------------------------
                                       Name:  Stephen R. Farrow
                                       Title: President and Chief
                                              Executive Officer

                                       5
<PAGE>
                                    MATERIAL SERVICES COMPANY, INC.
                                    Debtor and Debtor-in-Possession,
                                    as Guarantor,

                                    By: /s/ Ronald Stanley
                                       -----------------------------
                                       Name:  Ronald Stanley
                                       Title: Chief Financial Officer

                                    EASTSHORE AVIATION, LLC
                                    as Lender

                                    By: /s/ Geoffrey T. Crowley
                                       -----------------------------
                                       Name:  Geoffrey T. Crowley
                                       Title: President

                                       6<PAGE>

                                                                 EXHIBIT 10.23.5

          THIS FORM OF AWARD AGREEMENT IS PART OF A PROSPECTUS COVERING
        SECURITIES THAT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF
                                      1933

                                    DSW INC.
                           2005 EQUITY INCENTIVE PLAN

                FORM OF NONQUALIFIED STOCK OPTION AWARD AGREEMENT
                     GRANTED TO ____________ ON ____________

DSW Inc. ("Company") and its shareholders believe that their business interests
are best served by extending to you an opportunity to earn additional
compensation based on the growth of the Company's business. To this end, the
Company and its shareholders adopted the DSW Inc. 2005 Equity Incentive Plan
("Plan") as a means through which you may share in the Company's success. If you
satisfy the conditions described in this Agreement (and the Plan), your Award
will mature into an opportunity to buy common shares of the Company.

This Award Agreement describes many features of your Award and the conditions
you must meet before you may receive the value associated with your Award. To
ensure you fully understand these terms and conditions, you should:

   -  Read the Plan and the Plan's Prospectus carefully to ensure you understand
      how the Plan works;

   -  Read this Award Agreement carefully to ensure you understand what you must
      do to earn your Award; and

   -  Contact DSW's Vice President, Human Resources at (614) 238-5781 if you
      have any questions about your Award.

Also, no later than ____________, you must return a signed copy of the Award
Agreement to:

                  Vice President, Human Resources
                  DSW
                  4150 East Fifth Avenue
                  Columbus, Ohio 43219

If you do not do this, your Award will be revoked automatically as of the Grant
Date and you will not be entitled to receive any amount on account of the
retroactively revoked Award.

Section 409A of the Internal Revenue Code ("Section 409A") imposes substantial
penalties on persons who receive some forms of deferred compensation (see the
Plan's Prospectus for more information about these penalties). Your Award has
been designed to avoid these penalties. However, because the Internal Revenue
Service has not yet issued rules fully defining the effect of Section 409A, it
may be necessary to revise your Award Agreement if you are to avoid these
penalties. As a condition of accepting this Award, you must agree to accept
those revisions, without any further consideration, even if those revisions
change the terms of your Award and reduce its value or potential value.

                                       1

<PAGE>

                              NATURE OF YOUR AWARD

You have been granted Nonqualified Stock Options ("NQSOs") which you may
exercise to purchase common shares of the Company but only if you satisfy the
conditions described in this Award Agreement and pay the Exercise Price
specified below. Federal income tax rules apply to NQSOs. These and other
conditions affecting your NQSOs are described in this Award Agreement, the Plan
and the Plan's Prospectus, all of which you should read carefully.

No later than ____________, you must return a signed copy of this Award
Agreement to:

                  Vice President, Human Resources
                  DSW
                  4150 East Fifth Avenue
                  Columbus, Ohio 43219

If you do not do this, your Award will be revoked automatically as of the Grant
Date.

GRANT DATE: Your NQSOs were issued on ____________.

This is the date you begin to earn the right to buy common shares of the Company
through your NQSOs.

NUMBER OF NQSOS: You have been granted ____________ NQSOs.

You may buy one common share of the Company for each NQSO granted but only if
you meet the conditions described in this Award Agreement and in the Plan.

            WHEN YOU MAY EXERCISE YOUR AWARD AND WHEN IT WILL EXPIRE

NORMAL VESTING DATE: You may not exercise your NQSOs until they vest. Normally,
your NQSOs will vest (and may be exercised) if you are actively employed on
____________. This does not mean that you must exercise your NQSOs on
____________; this is merely the first date that you may do so. However, your
NQSOs will expire unless they are exercised before ____________, the Expiration
Date.

HOW YOUR NQSOS MIGHT VEST (AND BE EXERCISABLE) EARLIER THAN THE NORMAL VESTING
DATE: Regardless of the normal vesting schedule just given, your NQSOs will be
vested (and may be exercised) if, before the Normal Vesting Date:

      -  You die or become disabled (as defined in the Plan); or

      -  There is a Change in Control (as defined in the Plan).

HOW YOUR NQSOS MAY BE FORFEITED: You will forfeit your unvested NQSOs if:

      -  You materially fail to substantially perform your position or duties as
         a consultant;

      -  You engage in illegal or grossly negligent conduct that is materially
         injurious to the

                                       2

<PAGE>

         Company or any Related Entity (as defined in the Plan);

      -  You materially violate any law or regulation governing the Company or
         any Related Entity;

      -  You commit a material act of fraud or dishonesty which has had or is
         likely to have a material adverse effect upon the Company's (or any
         Related Entity's) operations or financial conditions;

      -  You materially breach the terms of any other agreement with the Company
         or any Related Entity; or

      -  You breach any term of the Plan or this Award Agreement.

Also, if the Company subsequently discovers that you actively concealed an act,
event or failure that is within those just listed and the Company could not have
discovered that act, event or failure through reasonable diligence before your
termination, you will be required to repay to the Company the full value you
received under this Award.

                              EXERCISING YOUR AWARD

There are specific procedures you must follow to exercise an NQSO; if you do not
follow these procedures, your attempted exercise will be disregarded.

When you buy a common share of the Company by exercising an NQSO, the option
exercised is cancelled and no more shares may be bought through the cancelled
option.

EXPIRATION DATE: Your NQSOs will expire on (and may not be exercised after)
____________.

EXERCISE PRICE: You must pay $____________ for each common share of the Company
you buy when you exercise an NQSO.

MINIMUM NUMBER OF NQSOS THAT YOU MAY EXERCISE: The smallest number of NQSOs that
you may exercise at any one time is 100 or, if fewer, the total number of your
outstanding vested NQSOs.

Also, you may not exercise any NQSO to buy a fractional common share of the
Company; an NQSO to purchase a fractional share will be converted to an NQSO to
purchase a whole share.

PROCEDURES FOR EXERCISING YOUR NQSOS: To exercise an NQSO, you must:

      -  Complete a copy of the Nonqualified Stock Option Exercise Notice
         attached to this Award Agreement (additional copies are available from
         DSW's Vice President, Human Resources at (614) 238-5781 or at the
         address given below); and

      -  Pay the Exercise Price (i.e., $____________) for each NQSO being
         exercised.

                                       3

<PAGE>

This must be done before ____________, when your NQSOs expire (see section
titled "When You May Exercise Your Award and When It Will Expire" above).

Unless otherwise authorized by the Company, you must pay the Exercise Price
by check in the amount of the Exercise Price ($____________) multiplied by the
number of NQSOs being exercised. This check must be made payable to "DSW Inc."
Upon payment, and as soon as administratively practicable, the Company will
issue you a number of shares equal to the number of NQSOs you are exercising.

                        OTHER RULES AFFECTING YOUR AWARD

RIGHTS BEFORE EXERCISE: Until you exercise your NQSOs, you may not exercise any
voting rights associated with the shares underlying your NQSOs. Nor will you be
entitled to receive any dividends with respect to those shares.

BENEFICIARY DESIGNATION: You may name a Beneficiary or Beneficiaries to exercise
any vested NQSOs that are unexercised when you die. This may be done only on the
attached Beneficiary Designation Form and by following the rules described in
that form. If you die without making an effective Beneficiary designation, your
Beneficiary will be your surviving spouse or, if you do not have a surviving
spouse, your estate.

TAX WITHHOLDING: You (and not the Company) are solely responsible for any income
and other taxes (including payment of estimated taxes) associated with this
Award or its exercise.

TRANSFERRING YOUR NQSOS: Normally, your NQSOs may not be transferred to another
person. However, you may complete a Beneficiary Designation Form to name the
person who may exercise your NQSOs if you die. Also, the Committee may allow you
to place your NQSOs into a trust established for your benefit or for the benefit
of your family. Contact DSW's Vice

                                       4

<PAGE>

President, Human Resources at (614) 238-5781 or at the address given below if
you are interested in doing this.

GOVERNING LAW: This Award Agreement will be construed in accordance with and
governed by the laws of the United States and of the State of Ohio (other than
laws governing conflicts of laws).

OTHER AGREEMENTS: Also, your NQSOs will be subject to the terms of any other
written agreements between you and the Company.

ADJUSTMENTS TO NQSOS: Your Award will be adjusted, if appropriate, to reflect
any change to the Company's capital structure (e.g., the number of your NQSOs
and the Exercise Price will be adjusted to reflect a stock split).

OTHER RULES: Your NQSOs also are subject to more rules described in the Plan and
in the Plan's Prospectus. You should read both these documents carefully to
ensure you fully understand all the terms and conditions of this Award.

                           TAX TREATMENT OF YOUR AWARD

The federal income tax treatment of your NQSOs is discussed in the Plan's
Prospectus.

                                      *****

You may contact DSW's Vice President, Human Resources at (614) 238-5781 or at
the address given below if you have any questions about your Award or this Award
Agreement.

                                      *****

                     YOUR ACKNOWLEDGMENT OF AWARD CONDITIONS

Note: You must sign and return a copy of this Award Agreement to DSW's Vice
President, Human Resources at the address given below no later than
____________.

By signing below, I acknowledge and agree that:

      -  A copy of the Plan has been made available to me;

      -  I have received a copy of the Plan's Prospectus;

      -  I understand and accept the conditions placed on my Awards and
         understand what I must do to earn and exercise my Award;

      -  I will consent (in my own behalf and in behalf of my beneficiaries and
         without any further consideration) to any change to my Award or this
         Award Agreement to avoid paying penalties under Section 409A of the
         Internal Revenue Code, even if those changes affect the conditions of
         my Award and reduce its value or potential value; and

                                       5

<PAGE>

      -  If I do not return a signed copy of this Award Agreement to the address
         shown below before ____________, my Award will be revoked automatically
         as of the date it was granted and I will not be entitled to receive any
         amount on account of the retroactively revoked Award.

_________________

_________________________________________
(signature)

Date signed: ____________________________

A signed copy of this form must be sent to the following address no later than
____________:

                  Vice President, Human Resources
                  DSW
                  4150 East Fifth Avenue
                  Columbus, Ohio 43219

                                      *****

                      COMMITTEE'S ACKNOWLEDGMENT OF RECEIPT

A signed copy of this Award Agreement was received on ______________.

By: _________________________

_________________

      _____ Has complied with the conditions imposed on the grant and the Award
      and the Award Agreement remains in effect; or

      _____ Has not complied with the conditions imposed on the grant and the
      Award and the Award Agreement is retroactively revoked as of the Grant
      Date because describe deficiency

DSW Inc. 2005 Equity Incentive Plan Administrator

By: ________________________________

Date: ______________________________

NOTE: Send a copy of this completed form to ____________ and keep a copy as part
of the Plan's permanent records.

                                       6
<PAGE>

                                    DSW INC.
                           2005 EQUITY INCENTIVE PLAN

                    NONQUALIFIED STOCK OPTION EXERCISE NOTICE
   AFFECTING NONQUALIFIED STOCK OPTIONS ISSUED TO ____________ ON ____________

Additional copies of this Nonqualified Stock Option Exercise Notice are
available from DSW's Vice President, Human Resources at (614) 238-5781 or at the
address given below.

Also, DSW's Vice President, Human Resources can answer any questions you have
about completing this notice and exercising your NQSOs.

By completing this form and returning it to DSW's Vice President, Human
Resources at the address given below, I elect to exercise the NQSOs described
below:

NOTE: You must complete a separate Nonqualified Stock Option Exercise Notice
each time you exercise NQSOs granted under each Award Agreement (e.g., if you
are exercising 200 NQSOs granted January 1, 2006 and 100 NQSOs granted January
1, 2007 under a separate award agreement, you must complete two Nonqualified
Stock Option Exercise Notices, one for each set of NQSOs being exercised).

AFFECTED OPTIONS: This exercise relates to the following NQSOs (fill in the
blanks):

      GRANT DATE:  ____________

      NUMBER OF NQSOS BEING EXERCISED WITH THIS NOTICE:  _____________________

NOTE: You may not exercise fewer than 100 NQSOs at any one time unless you have
fewer than 100 NQSOs outstanding from this grant, in which case you may exercise
all of the outstanding NQSOs from this grant.

EXERCISE PRICE: The Exercise Price due is $__________________________________

NOTE: This amount must be the product of $____________ multiplied by the number
of NQSOs being exercised.

PAYMENT OF EXERCISE PRICE: I have decided to pay the Exercise Price by (check
one):

      ____  Personal check payable to "DSW Inc."

      ____  Through a cashless exercise.

      ____  Through the attestation process.

Note:

      -     If you select the cash method of exercise, you must include payment
            with this notice.

                                       7
<PAGE>

      -     If you select either the cashless or attestation form of paying the
            Exercise Price, you should contact DSW's Vice President, Human
            Resources at (614) 238-5781 or at the address given below to be sure
            you understand how your choice of payment will affect the number of
            common shares of the Company you will receive.

                   YOUR ACKNOWLEDGEMENT OF EFFECT OF EXERCISE

By signing below, I acknowledge and agree that:

      -     I fully understand the effect (including the investment effect) of
            exercising my NQSOs and buying common shares of the Company and
            understand that there is no guarantee that the value of these shares
            will appreciate or will not depreciate;

      -     This election will have no effect if it is not returned to RVI's
            Vice President Compensation, Benefits & HRIS at the address given
            below before they expire (as described in the Award Agreement under
            which these NQSOs were issued); and

      -     The common shares of the Company I am buying by filing this form
            will be issued to me as soon as administratively practicable.

_______________

_____________________________________________
(signature)

Date signed: ________________________________

A signed copy of this Nonqualified Stock Option Exercise Notice must be sent to
the following address no later than ____________:

               Vice President, Human Resources
               DSW
               4150 East Fifth Avenue
               Columbus, Ohio 43219

                                      *****

                           ACKNOWLEDGEMENT OF RECEIPT

A signed copy of this Nonqualified Stock Option Exercise Notice was received on:
_______________________.

_______________:

      ____  Has effectively exercised the NQSOs described in this notice; or

      ____  Has not effectively exercised the NQSOs described in this notice
            because

                                       8
<PAGE>

      __________________________________________________________________________
      describe deficiency

DSW Inc. 2005 Equity Incentive Plan Administrator

By:   __________________________________

Date: __________________________________

Note: Keep a copy of this form as part of the Plan's permanent records.

                                       9
<PAGE>

                                    DSW INC.
                           2005 EQUITY INCENTIVE PLAN
                          BENEFICIARY DESIGNATION FORM

      RELATING TO STOCK OPTION AWARD ISSUED TO ____________ ON ____________

                      INSTRUCTIONS FOR COMPLETING THIS FORM

You may use this form [1] to name the person you want to receive any amount due
after your death under the terms of the Award described above or [2] to change
the person who will receive these benefits.

There are several things you should know before you complete this form.

FIRST, if you do not elect another Beneficiary, any amount due to you under the
Plan when you die will be paid to your surviving spouse or, if you have no
surviving spouse, to your estate.

SECOND, your election will not be effective (and will not be implemented) unless
you sign this form.

THIRD, your election will be effective only if and when this form is completed
properly and returned to DSW's Vice President, Human Resources.

FOURTH, all elections will remain in effect until they are changed (or until all
death benefits are paid).

FIFTH, if you designate your spouse as your Beneficiary but are subsequently
divorced from that person (or your marriage is annulled), your Beneficiary
designation will be revoked automatically.

SIXTH, if you have any questions about this form or if you need additional
copies of this form, please contact DSW's Vice President, Human Resources at
(614) 238-5781 or at the address given below.

                         1.00 DESIGNATION OF BENEFICIARY

1.01  PRIMARY BENEFICIARY:

      I designate the following persons as my Primary Beneficiary or
      Beneficiaries to exercise any rights due after my death under the terms of
      the Award Agreement described at the top of this form. These rights will
      be allocated, in the proportion specified, to:

       ______% to ______________________________________________________________
                       (Name)                                     (Relationship)

      ADDRESS: _________________________________________________________________

                                       10
<PAGE>

      ______% to _______________________________________________________________
                       (Name)                                     (Relationship)

      Address: _________________________________________________________________

      ______% to _______________________________________________________________
                       (Name)                                     (Relationship)

      Address: _________________________________________________________________

      ______% to _______________________________________________________________
                       (Name)                                     (Relationship)

      Address: _________________________________________________________________

1.02  CONTINGENT BENEFICIARY

IF ONE OR MORE OF MY PRIMARY BENEFICIARIES DIES BEFORE I DIE, I DIRECT THAT any
rights available after my death under the terms of the Award Agreement described
at the top of this form:

      _____ Be allocated to my other named Primary Beneficiaries in proportion
      to the allocation given above (ignoring the interest allocated to the
      deceased Primary Beneficiary); or

      _____ Be allocated among the following Contingent Beneficiaries.

      ______% to _______________________________________________________________
                       (Name)                                     (Relationship)

      Address: _________________________________________________________________

      ______% to _______________________________________________________________
                       (Name)                                     (Relationship)

      Address: _________________________________________________________________

      ______% to _______________________________________________________________
                       (Name)                                     (Relationship)

      Address: _________________________________________________________________

      ______% to _______________________________________________________________
                       (Name)                                     (Relationship)

      Address: _________________________________________________________________

ELECTIONS MADE ON THIS FORM WILL BE EFFECTIVE ONLY AFTER THIS FORM IS RECEIVED
BY DSW'S VICE PRESIDENT, HUMAN RESOURCES AND ONLY IF IT IS FULLY AND PROPERLY
COMPLETED AND SIGNED.

                                       11
<PAGE>

Name: ____________

Soc. Sec. No.: _________________________________________________________________

Date of Birth: _________________________________________________________________

Address: _______________________________________________________________________

________________________________________________________________________________

Sign and return this form to DSW's Vice President, Human Resources at the
address given below.
__________________________                         _____________________________
Date                                               Signature

Return this signed form to DSW's Vice President, Human Resources at the
following address:

               Vice President, Human Resources
               DSW
               4150 East Fifth Avenue
               Columbus, Ohio 43219

Received on: __________________

By: ______________________________________

                                       12

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