Document:

Exhibit 10.75.1

Exhibit 10.75.1

First
amendment to loan and security agreement

This First Amendment to Loan and Security Agreement (the “First Amendment”) is made as of
January 6, 2010 by and among

PNC BANK (as successor to National City Bank (as successor to National City Business
Credit, Inc.)), a national banking institution with offices at 1965 E. Sixth Street,
Cleveland, Ohio 44114, as administrative agent (in such capacity herein, the
“Administrative Agent”) for the ratable benefit of the Revolving Credit Lenders (as defined
in the Loan Agreement referred to below);

PNC BANK (as successor to National City Bank (as successor to National City Business
Credit, Inc.)), as collateral agent (in such capacity herein, the “Collateral Agent”), for
the ratable benefit of the Revolving Credit Lenders;

The REVOLVING CREDIT LENDERS;

DSW Inc., an Ohio corporation with its principal executive offices at 4150 East Fifth
Avenue, Columbus, Ohio 43219, as agent (in such capacity herein, the “Lead Borrower”) for
the following (individually, a “Borrower” and collectively, the “Borrowers”):

Said DSW Inc. (“DSW”); and

DSW Shoe Warehouse, Inc. (“DSW Shoe”), a Missouri corporation with its principal
executive offices at 4150 East Fifth Avenue, Columbus, Ohio 43219; and

The BORROWERS;

in consideration of the mutual covenants contained herein and benefits to be derived herefrom,

W I T N E S S E T H:

	 	A.	 	Reference is hereby made to that certain Loan and Security Agreement dated as
of July 5, 2005 (as amended, modified, supplemented or restated and in effect from
time to time, the “Loan Agreement”) among (i) the Borrowers, (ii) the Revolving Credit
Lenders, (iii) the Administrative Agent, and (iv) the Collateral Agent.

	 	B.	 	The Borrowers have requested that the Revolving Credit Lenders modify and
amend certain provisions of the Loan Agreement in order to permit DSW to redeem and
repurchase certain of its capital stock from the Parent.

	 	C.	 	The Revolving Credit Lenders have agreed to modify and amend certain
provisions of the Loan Agreement in order to, among other things, permit such
redemption and repurchase as provided herein.

Accordingly, the parties hereto agree as follows:

	1.	 	Definitions. Capitalized terms used herein and not otherwise defined herein shall
have the meanings assigned to such terms in the Loan Agreement.

 

 

 

	2.	 	Amendment to Article 1 of Loan Agreement. The provisions of Article 1 of the Loan
Agreement are hereby amended as follows:

	 	a.	 	By deleting the definitions of “NCB” and “NCBC” in their entirety and
substituting the following new definitions in their stead:

““NCB”: PNC Bank, a national banking association (as successor to National
City Bank), and its successors and assigns.”

““NCBC”: PNC Bank, a national banking association (as successor to National
City Bank (as successor to National City Business Credit, Inc.)), and its
successors and assigns.”

	 	b.	 	By adding the following new definition in the proper alphabetical order:

““First Amendment Effective Date”: January 6, 2010.”

	3.	 	Amendments to Article 5 of Loan Agreement. The provisions of Article 5 of the Loan
Agreement are hereby amended as follows:

	 	a.	 	The provisions of Section 5.16 of the Loan Agreement are hereby amended as
follows:

	 	i.	 	By deleting clause (b) thereof in its entirety and
substituting in its stead the following new clause (b):

“(b) (i) (A) On one occasion between the First Amendment Effective
Date and January 31, 2010, and (B) on one occasion between February 1,
2010 and April 30, 2010, DSW may make cash payments for the purpose of
purchasing from the Parent a portion of DSW’s capital stock if (w) no
Default or Event of Default shall have occurred and be continuing at the
time of declaration or payment thereof, (x) the aggregate amount so
expended does not exceed $10,000,000 on each such occasion, (y)
immediately after giving effect to the making of such payment, (1) the
Loan Parties’ cash, cash equivalents and short-term investments shall be
equal to or greater than $200,000,000, and (2) there shall be no Revolving
Credit Loans then outstanding, and (z) the Loan Parties shall have
provided to the Administrative Agent evidence, in form and substance
satisfactory to the Administrative Agent, of satisfaction of the
conditions contained in clause (y) above on a basis satisfactory to the
Administrative Agent, provided that any payments not made during
the period described in clause (i)(A) above shall be deemed waived and
shall not be permitted to be made during the period described in clause
(i)(B) above or on any other occasion; and

(ii) in addition to amounts to be paid under clause (i) hereof, own,
redeem, retire, purchase, or acquire any of any Loan Party’s capital
stock; provided that the Loan Parties may make cash payments for any such
purposes if:

(A) no Default or Event of Default shall have occurred and be
continuing at the time of declaration or payment thereof; and

(B) after giving effect to the making of any such cash
payment, the aggregate amount so expended for such purposes
subsequent to the Effective Date does not exceed $1,500,000; and

(C) after giving effect to the making of any such cash
payment, the aggregate amount so expended for such purposes in any
fiscal year of the Borrowers does not exceed $500,000.”

 

2

 

	 	ii.	 	By adding the following new language at the beginning of
clause (c) thereof:

“Except as permitted pursuant to clause (b) hereof,”

	 	b.	 	The provisions of Section 5.20(a) of the Loan Agreement are hereby amended by
deleting the word “or” at the end of clause (iii) thereof, re-numbering clause (iv)
thereof as clause (v), and inserting the following new clause (iv) in its stead:

“(iv) transactions permitted pursuant to Section 5.16(b)(i) hereof, or”

	4.	 	Amendments to Article 18.1 of Loan Agreement. The provisions of Section 18.1 of the
Loan Agreement are hereby amended by deleting the notice address provided for the
Administrative Agent and substituting the following new notice address in its stead:

“If to the Administrative Agent:

	 	 	 	 	 
	 	 	PNC Bank
	 	 	1965 E. Sixth Street
	 	 	Cleveland, Ohio 44114
	 

	 	Attention
	 	: Anthony Alexander
	 

	 	Fax
	 	: (216) 222-8155

With a copy to:

	 	 	 	 	 
	 	 	Riemer & Braunstein LLP
	 	 	Three Center Plaza
	 	 	Boston, Massachusetts 02108
	 

	 	Attention
	 	: David S. Berman, Esquire
	 

	 	Fax
	 	: (617) 880-3456”

	5.	 	Representations and Warranties. The Borrowers hereby restate and reaffirm all
representations, warranties, and covenants set forth in the Loan Agreement and the other Loan
Documents as of the date hereof.

	6.	 	Conditions Precedent to Effectiveness. This First Amendment shall not be effective
until each of the following conditions precedent has been fulfilled to the satisfaction of the
Administrative Agent:

	 	a.	 	This First Amendment shall have been duly executed and delivered by the
parties hereto, and shall be in full force and effect and shall be in form and
substance satisfactory to the Administrative Agent and the Majority Lenders.

	 	b.	 	All action on the part of the Borrowers necessary for the valid execution,
delivery and performance by the Borrowers of this First Amendment and all other
documentation, instruments, and agreements to be executed in connection herewith shall
have been duly and effectively taken and evidence thereof satisfactory to the
Administrative Agent shall have been provided to the Administrative Agent.

	 	c.	 	No Default or Event of Default shall be then occurring.

	 	d.	 	The Loan Parties shall have executed and delivered to the Administrative
Agent such other documents, instruments, and agreements as may be required by the
Administrative Agent.

 

3

 

	7.	 	Miscellaneous.

	 	a.	 	This First Amendment may be executed in several counterparts and by each
party on a separate counterpart, each of which, when so executed and delivered, shall
be an original, and all of which, together with the Loan Agreement, shall constitute
one instrument. This First Amendment shall constitute a Loan Document for all
purposes.

	 	b.	 	This First Amendment expresses the entire understanding of the parties with
respect to the transactions contemplated hereby. No prior negotiations or discussions
shall limit, modify, or otherwise affect the provisions hereof.

	 	c.	 	Each of the Borrowers hereby ratifies, confirms, and reaffirms all
representations, warranties, and covenants set forth in the Loan Agreement and the
other Loan Documents as of the date hereof. Except as expressly modified herein, all
terms and conditions of the Loan Agreement and the other Loan Documents remain in full
force and effect.

	 	d.	 	Any determination that any provision of this First Amendment or any
application hereof is invalid, illegal or unenforceable in any respect and in any
instance shall not affect the validity, legality, or enforceability of such provision
in any other instance, or the validity, legality or enforceability of any other
provisions of this First Amendment.

	 	e.	 	The Loan Parties shall pay on demand all reasonable costs and expenses of the
Administrative Agent, including, without limitation, reasonable attorneys’ fees in
connection with the preparation, negotiation, execution and delivery of this First
Amendment.

	 	f.	 	This First Amendment and all rights and obligations hereunder, including
matters of construction, validity, and performance, shall be governed by the law of
State of Ohio.

[SIGNATURE PAGES FOLLOW]

 

4

 

IN WITNESS WHEREOF, the parties have duly executed this First Amendment as of the day and year
first above written.

	 	 	 	 	 
	 	DSW INC., as Lead Borrower and as a Borrower

 	 
	 	By:  	/s/ Kurt Gatterdam
 	 
	 	 	Name:  	Kurt Gatterdam 	 
	 	 	Title:  	VP, Treasurer 	 
	 
	 	DSW SHOE WAREHOUSE, INC., as a Borrower

 	 
	 	By:  	/s/ Kurt Gatterdam
 	 
	 	 	Name:  	Kurt Gatterdam 	 
	 	 	Title:  	VP, Treasurer 	 

Signature Page to First Amendment to Loan and Security Agreement

 

 

 

	 	 	 	 	 
	 

	PNC BANK (as successor to National City Bank (as
successor to National City Business Credit,
Inc.)), as Administrative Agent, Collateral
Agent, SwingLine Lender and Revolving Credit
Lender

	 
	 	By:  	                       /s/ Anthony Alexander
 	 
	 	 	Name:  	Anthony Alexander 	 
	 	 	Title:  	Vice President 	 

Signature Page to First Amendment to Loan and Security Agreement

 

 

 

	 	 	 
	 

	 	 BANK OF AMERICA, N.A., as a Revolving Credit
Lender

	 	 	 	 	 
	 	By:  	                        /s/ Kathleen Dimock
 	 
	 	 	Name:  	Kathleen Dimock 	 
	 	 	Title:  	Managing Director 	 

Signature Page to First Amendment to Loan and Security Agreement

 

 

 

	 	 	 
	 

	 	 GENERAL ELECTRIC CAPITAL CORPORATION, as a

 Revolving Credit Lender

	 	 	 	 	 
	 	By:  	                     /s/ Peter F. Crispino
 	 
	 	 	Name:  	Peter F. Crispino 	 
	 	 	Title:  	Duly Authorized Signatory 	 

Signature Page to First Amendment to Loan and Security Agreement

 

 

 

	 	 	 
	 

	 	 WELLS FARGO RETAIL FINANCE, LLC, as a Revolving

 Credit Lender

	 	 	 	 	 
	 	By:  	                         /s/ Adam B. Davis
 	 
	 	 	Name:  	Adam B. Davis 	 
	 	 	Title:  	Vice President 	 

Signature Page to First Amendment to Loan and Security Agreement

 

 

 

	 	 	 
	 

	 	 HSBC BUSINESS CREDIT (USA) INC., as a Revolving
 Credit  Lender

	 	 	 	 	 
	 	By:  	                       /s/ Thomas Getty, Jr.
 	 
	 	 	Name:  	Thomas Getty, Jr. 	 
	 	 	Title:  	Vice President 	 

Signature Page to First Amendment to Loan and Security AgreementExhibit 10.102

Exhibit 10.102

RETAIL VENTURES, INC.

RESTRICTED STOCK AWARD AGREEMENT

Summary of Terms

Awardee Name: JAMES MCGRADY

Grant Date: February 22, 2010

Award Type: Restricted Stock

Number of Shares: 50,000

	 	Vesting Schedule: 	 	 100% Vesting on February 22, 2011 unless

sooner pursuant to terms of the Restricted
 Stock Award
Agreement

 

 

 

RETAIL VENTURES, INC.

RESTRICTED STOCK AWARD AGREEMENT

This Agreement is entered into in Franklin County, Ohio. On February 22, 2010 (the “Grant
Date”), Retail Ventures, Inc., an Ohio corporation (the “Company”), has awarded to James McGrady
(“Awardee”) 50,000 Shares of Restricted Stock (the “Restricted Stock” or “Award”), representing an
unfunded unsecured promise of the Company to deliver common shares, without par value, of the
Company (the “Shares”) to Awardee as set forth herein. The Restricted Stock has been granted
pursuant to the Retail Ventures, Inc. Second Amended and Restated 2000 Stock Incentive Plan (the
“Plan”), and shall be subject to all provisions of the Plan, which are incorporated herein by
reference, and shall be subject to the provisions of this Restricted Stock Award Agreement (this
“Agreement”). Capitalized terms used in this Agreement which are not specifically defined shall
have the meanings ascribed to such terms in the Plan.

	 	1.	 	Vesting. The Restricted Stock shall vest on the earlier of (a) February 22, 2011, or
(b) a Change in Control prior to February 22, 2011 (the “Vesting Date”), subject to the
provisions of this Agreement, including those relating to the Awardee’s continued
employment with the Company or any Related Entity..
	 
	 	2.	 	Transferability. The Restricted Stock may not be sold, transferred, pledged, or
otherwise disposed of prior to the Vesting Date.
	 
	 	3.	 	Termination of Employment.

	 	(a)	 	General. Except as set forth below, if a Termination of Service
occurs prior to the Vesting Date, such Restricted Stock shall be forfeited by
Awardee.
	 
	 	(b)	 	Death and Disability. If an Employment Termination occurs prior
to the Vesting Date by reason of Awardee’s Death or Disability, then any unvested
Restricted Stock shall immediately vest in full and shall not be forfeited.
	 
	 	(c)	 	Involuntary Termination Without Cause. If an Employment
Termination occurs prior to the Vesting Date by reason of Awardee’s Involuntary
Termination Without Cause, pursuant to Sections 5.3.1 or 5.3.2 of Awardee’s
Employment Agreement, then any unvested Restricted Stock shall immediately vest in
full and shall not be forfeited.

	 	4.	 	Payment. Awardee shall be entitled to receive from the Company (without any payment
on behalf of Awardee other than as described in Paragraph 8) the Shares represented by
such Restricted Stock; provided, however, that in the event that such Restricted Stock
vests prior to the applicable Vesting Date as a result of a Change of Control or the
Death, Disability, Retirement or Termination Without Cause of Awardee, Awardee shall be
entitled to receive the Shares represented by the Restricted Stock on the date of such
Change of Control, Death, Disability, Retirement or Termination Without Cause.
	 
	 	5.	 	Dividend Equivalents. Awardee shall receive cash dividends, if any, from the Company
on the Restricted Stock which shall be paid at the same time as other holders of Shares
receive payment of such cash dividends. Any dividends payable in Shares shall be subject
to the same restrictions as the Restricted Stock to which such dividends relate and shall
be settled as described in this Agreement.

 

 

 

	 	6.	 	Right of Set-Off. By accepting this Restricted Stock, Awardee consents to a deduction
from, and set-off against, any amounts owed to Awardee by the Company or a Related Entity
from time to time (including, but not limited to, amounts owed to Awardee as wages,
severance payments or other fringe benefits) to the extent of the amounts owed to the
Company or a Related Company by Awardee under this Agreement.
	 
	 	7.	 	Shareholder Rights. Awardee shall have all rights of a shareholder with respect to
the Restricted Stock, including, without limitation, Awardee shall have the right to vote
the Shares represented by the Restricted Stock.
	 
	 	8.	 	Withholding Tax.

	 	(a)	 	Generally. Awardee is liable and responsible for all taxes owed in
connection with the Restricted Stock regardless of any action the Company takes with
respect to any tax withholding obligations that arise in connection with the
Restricted Stock. The Company does not make any representation or undertaking
regarding the tax treatment or the treatment of any tax withholding in connection
with the grant or vesting of the Restricted Stock or the subsequent sale of Shares
issuable pursuant to the Restricted Stock. The Company does not commit and is under
no obligation to structure the Restricted Stock to reduce or eliminate Awardee’s tax
liability.
	 
	 	(b)	 	Payment of Withholding Taxes. Prior to any event in connection with the
Restricted Stock (e.g., vesting or settlement) that the Company determines may
result in any domestic or foreign tax withholding obligation, whether national,
federal, state or local, including any employment tax obligation (the “Tax
Withholding Obligation”), Awardee is required to arrange for the satisfaction of the
minimum amount of such Tax Withholding Obligation in a manner acceptable to the
Company. Unless Awardee elects to satisfy the Tax Withholding Obligation by an
alternative means that is then permitted by the Company, Awardee’s acceptance of
this Agreement constitutes Awardee’s instruction and authorization to the Company to
withhold on Awardee’s behalf the number of Shares from those issuable to Awardee at
the time when the Restricted Stock becomes vested and payable as the Company
determines to be sufficient to satisfy the Tax Withholding Obligation. In the case
of any amounts withheld for taxes pursuant to this provision in the form of Shares,
the amount withheld shall not exceed the minimum required by applicable law and
regulations.

	 	9.	 	Governing Law/Venue for Dispute Resolution. This Agreement shall be governed by the
laws of the State of Ohio, without regard to principles of conflicts of law, except to the
extent superceded by the laws of the United States of America. The parties agree and
acknowledge that the laws of the State of Ohio bear a substantial relationship to the
parties and/or this Agreement and that the Restricted Stock and benefits granted herein
would not be granted without the governance of this Agreement by the laws of the State of
Ohio. In addition, all legal actions or proceedings relating to this Agreement shall be
brought exclusively in state or federal courts located in Franklin County, Ohio and the
parties executing this Agreement hereby consent to the personal jurisdiction of such
courts. Any provision of this Agreement which is determined by a court of competent
jurisdiction to be invalid or unenforceable should be construed or limited in a manner
that is valid and enforceable and that comes closest to the business objectives intended
by
such provision, without invalidating or rendering unenforceable the remaining provisions
of this Agreement.

 

 

 

	 	10.	 	Action by the Committee. The parties agree that the interpretation of this Agreement
shall rest exclusively and completely within the sole discretion of the Committee. The
parties agree to be bound by the decisions of the Committee with regard to the
interpretation of this Agreement and with regard to any and all matters set forth in this
Agreement. The Committee may delegate its functions under this Agreement to an officer of
the Company designated by the Committee (hereinafter the “Designee”). In fulfilling its
responsibilities hereunder, the Committee or its Designee may rely upon documents, written
statements of the parties or such other material as the Committee or its Designee deems
appropriate. The parties agree that all determinations and decisions made by the
Committee, the Board, and any delegate of the Committee pursuant to the provisions of the
Plan shall be final, conclusive and binding on all Persons, and shall be given the maximum
deference permitted by law. Pursuant to Section 13.4 of the Plan, the Committee has
specifically determined that the limitations contained in Sections 2.29, 7.2 and 7.5
relating to the Period of Restriction and/or transfer of Shares underlying the Restricted
Stock shall not apply.
	 
	 	11.	 	Prompt Acceptance of Agreement. The Restricted Stock evidenced by this Agreement
shall, at the discretion of the Committee, be forfeited if this Agreement is not manually
executed and returned to the Company, or as applicable electronically executed by Awardee
by indicating Awardee’s acceptance of this Agreement in accordance with the acceptance
procedures set forth on the Company’s third-party equity plan administrator’s web site,
within 90 days of the Grant Date.
	 
	 	12.	 	Electronic Delivery and Consent to Electronic Participation. The Company may, in its
sole discretion, decide to deliver any documents related to the Restricted Stock under and
participation in the Plan or future Restricted Stock that may be awarded under the Plan by
electronic means or to request Awardee’s consent to participate in the Plan by electronic
means. Awardee hereby consents to receive such documents by electronic delivery and to
participate in the Plan through an on-line or electronic system established and maintained
by the Company or another third party designated by the Company, including the acceptance
of restricted stock grants and the execution of restricted stock agreements through
electronic signature.
	 
	 	13.	 	Notices. All notices, requests, consents and other communications required or
provided under this Agreement to be delivered by Awardee to the Company will be in writing
and will be deemed sufficient if delivered by hand, facsimile, nationally recognized
overnight courier, or certified or registered mail, return receipt requested, postage
prepaid, and will be effective upon delivery to the Company at the address set forth
below:

Retail Ventures, Inc.

4150 E. Fifth Avenue

Columbus, Ohio 43219

Attention: General Counsel

Facsimile: (614) 238-4156

 

 

 

	 	 	 	All notices, requests, consents and other communications required or provided under this
Agreement to be delivered by the Company to Awardee may be delivered by e-mail or in
writing and will be deemed sufficient if delivered by e-mail, hand, facsimile, nationally
recognized overnight courier, or certified or registered mail, return receipt requested,
postage prepaid, and will be effective upon delivery to the Awardee.
	 
	 	14.	 	Employment Agreement, Offer Letter or Other Arrangement. To the extent a written
employment agreement, offer letter or other arrangement (“Employment Arrangement”) that
was approved by the Compensation Committee or the Board of Directors or that was approved
in writing by an officer of the Company pursuant to delegated authority of the
Compensation Committee provides for greater benefits to Awardee with respect to vesting of
the Restricted Stock on a Termination of Service, than provided in this Agreement or in
the Plan, then the terms of such Employment Arrangement with respect to vesting of the
Restricted Stock on a Termination of Service by reason of such specified events shall
supersede the terms hereof to the extent permitted by the terms of the Plan.

	 	 	 	 	 
	 	RETAIL VENTURES, INC.

 	 
	 	By:  	/s/ Julia A. Davis
 	 
	 	 	Its: General Counsel 	 
	 	 	 	 

 

 

 

	 	 	 	 	 

ACCEPTANCE OF AGREEMENT

Awardee hereby: (a) acknowledges that he or she has received a copy of the Plan, a copy of the
Company’s most recent annual report to shareholders and other communications routinely distributed
to the Company’s shareholders, and a copy of the plan description (Prospectus) dated January 1,
2008 pertaining to the Plan; (b) accepts this Agreement and the Restricted Stock awarded to him or
her under this Agreement subject to all provisions of the Plan and this Agreement; (c) represents
that he or she understands that the acceptance of this Agreement through an on-line or electronic
system, if applicable, carries the same legal significance as if he or she manually signed the
Agreement; (d) represents and warrants to the Company that he or she is purchasing the Restricted
Stock for his or her own account, for investment, and not with a view to or any present intention
of selling or distributing the Restricted Stock either now or at any specific or determinable
future time or period or upon the occurrence or nonoccurrence of any predetermined or reasonably
foreseeable event; and (e) agrees that no transfer of the Shares delivered in respect of the
Restricted Stock shall be made unless the Shares have been duly registered under all applicable
Federal and state securities laws pursuant to a then-effective registration which contemplates the
proposed transfer or unless the Company has received a written opinion of, or satisfactory to, its
legal counsel that the proposed transfer is exempt from such registration.

	 	 	 	 	 
	 	 	 
	 	                                                      /s/ James A. McGrady
 	 
	 	Awardee’s Signature 	 
	 	Date: 03-16-2010

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}]]