Document:

WWW Exhibit 4.13 to Form 10-K 2003

Exhibit 4.13

THIRD AMENDMENT TO CREDIT AGREEMENT

          THIS THIRD AMENDMENT TO CREDIT AGREEMENT, dated as of December 19, 2002 (this "Amendment"), is among WOLVERINE WORLD WIDE, INC., a Delaware corporation (the "Company"), the Foreign Subsidiary Borrowers (collectively with the Company, the "Borrowers" and each a "Borrower"), the lenders party hereto from time to time (collectively, the "Banks" and, individually, a "Bank"), Bank One, Michigan, a Michigan banking corporation, as Agent, Harris Trust and Savings Bank, as syndication agent (in such capacity, the "Syndication Agent") and Comerica Bank, as documentation agent (in such capacity, the "Documentation Agent").

R E C I T A L

          The Borrowers, the Banks party thereto and the Agent are parties to a Credit Agreement dated as of May 29, 2001, as amended by a First Amendment to Credit Agreement dated as of February 8, 2002 and a Second Amendment to Credit Agreement dated as of August 30, 2002 (the "Credit Agreement"). The Borrowers desire to amend the Credit Agreement and the Agent and the Banks are willing to do so in accordance with the terms hereof.

T E R M S

          In consideration of the premises and of the mutual agreements herein contained, the parties agree as follows:

ARTICLE 1.

AMENDMENTS

          The Credit Agreement is amended as follows:

          1.1 Reference in Section 3.7(a) to "December 31, 2002" shall be deleted and "April 30, 2003" is substituted in place thereof.

ARTICLE 2.

REPRESENTATIONS

          Each Borrower represents and warrants to the Agent and the Banks that:

          2.1          The execution, delivery and performance by each Borrower of this Amendment are within its corporate powers, have been duly authorized by all necessary corporate action and are not in contravention of any law, rule or regulation, or any judgment, decree, writ, injunction, order or award of any arbitrator, court or governmental authority, or of the terms of such Borrower's charter or by-laws, or of any contract or undertaking to which such Borrower is a party or by which such Borrower or its property may be bound or affected.

          2.2 This Amendment is the legal, valid and binding obligations of each Borrower enforceable against such Borrower in accordance with their respective terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting enforcement of creditors' rights generally and by general principles of equity (whether applied in a proceeding at law or in equity).

          2.3 After giving effect to the amendments herein contained, the representations and warranties contained in the Loan Documents are true in all material respects on and as of the date hereof with the same force and effect as if made on and as of the date hereof.

          2.4 After giving effect to the amendments herein contained, no Event of Default or Unmatured Default exists or has occurred and is continuing on the date hereof.

ARTICLE 3.

CONDITIONS PRECEDENT.

          This Amendment shall be effective as of the date hereof when it shall be executed by the Borrowers, the Required Banks and the Agent.

ARTICLE 4.

MISCELLANEOUS.

          4.1          References in the Credit Agreement and any other Loan Document to the Credit Agreement shall be deemed to be references to the Credit Agreement as amended hereby and as further amended from time to time.

          4.2          Except as expressly amended hereby, each Borrower agrees that the Loan Documents are ratified and confirmed and shall remain in full force and effect and that it has no set off, counterclaim, defense or other claim or dispute with respect to any of the foregoing. The terms used but not defined herein shall have the respective meanings ascribed thereto in the Credit Agreement.

          4.3          This Amendment may be signed upon any number of counterparts with the same effect as if the signatures thereto and hereto were upon the same instrument, and telecopied signatures shall be enforceable as originals.

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          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the day and year first above written.

	
 
	
WOLVERINE WORLD WIDE, INC.

	
 
	
 

	
 
	
 

	
 
	
By:
	
/s/ S. Gulis Jr.

	
 
	
 
	
 

	
 
	
Its:
	
EVP - CFO

	
 
	
 

	
 
	
HUSH PUPPIES CANADA FOOTWEAR, LTD.

	
 
	
 

	
 
	
 

	
 
	
By:
	
/s/ S. Gulis Jr.

	
 
	
 
	
 

	
 
	
Its:
	
Director and Authorized Officer

	
 
	
 

	
 
	
HUSH PUPPIES (U.K.) LTD.

	
 
	
 

	
 
	
 

	
 
	
By:
	
/s/ S. Gulis Jr.

	
 
	
 
	
 

	
 
	
Its:
	
Director and Authorized Officer

	
 
	
 

	
 
	
MERRELL (EUROPE) LIMITED

	
 
	
 

	
 
	
 

	
 
	
By:
	
/s/ S. Gulis Jr.

	
 
	
 
	
 

	
 
	
Its:
	
Authorized Officer

	
 
	
 

	
 
	
WOLVERINE EUROPE B.V.

	
 
	
 

	
 
	
 

	
 
	
By:
	
/s/ S. Gulis Jr.

	
 
	
 
	
 

	
 
	
Its:
	
Director

	
 
	
 

	
 
	
WOLVERINE EUROPE LIMITED

	
 
	
 

	
 
	
 

	
 
	
By:
	
/s/ NP Ottenwess

	
 
	
 
	
 

	
 
	
Its:
	
Director

	
 
	
 

	
 
	
WOLVERINE WORLD WIDE

EUROPE LIMITED

	
 
	
 

	
 
	
 

	
 
	
By:
	
/s/ NP Ottenwess

	
 
	
 
	
 

	
 
	
Its:
	
Director

3

	
 
	
BANK ONE, NA (as successor by merger to Bank

One, Michigan),

as a Bank and as Agent

	
 
	
 

	
 
	
 

	
 
	
By:
	
/s/ Glenn A. Currin

	
 
	
 
	
Glenn A. Currin

	
 
	
 
	
 

	
 
	
 
	
Its:
	
Managing Director

4

	
 
	
HARRIS TRUST AND SAVINGS BANK,

     as a Bank and as Syndication Agent

	
 
	
 

	
 
	
 

	
 
	
By:
	
/s/ Kirby M. Law

	
 
	
 
	
Kirby M. Law

	
 
	
 
	
Its:
	
Vice President

5

	
 
	
COMERICA BANK,

     as a Bank and as Documentation Agent

	
 
	
 

	
 
	
 

	
 
	
By:
	
/s/ Jeffrey J. Judy

	
 
	
 
	
 

	
 
	
Its:
	
Vice President

6

	
 
	
STANDARD FEDERAL BANK N.A., formerly

known as Michigan National Bank

	
 
	
 

	
 
	
 

	
 
	
By:
	
/s/ Jason Byrd

	
 
	
 
	
 

	
 
	
 
	
Its:
	
AVP

7

	
 
	
NATIONAL CITY BANK OF

MICHIGAN/ILLINOIS

	
 
	
 

	
 
	
 

	
 
	
By:
	
/s/ William C. Goodhue

	
 
	
 
	
William C. Goodhue

	
 
	
 
	
Its:
	
Senior Vice President

8

	
 
	
FIFTH THIRD BANK, formerly known as Old

Kent Bank

	
 
	
 

	
 
	
 

	
 
	
By:
	
/s/ David A. Foote

	
 
	
 
	
David A. Foote

	
 
	
 
	
Its:
	
Vice President

9

	
 
	
BANK ONE, NA, CANADA BRANCH

	
 
	
 

	
 
	
 

	
 
	
By:
	
 

	
 
	
 
	
 

	
 
	
 
	
Its:
	
 

10WWW Exhibit 10.10 to Form 10-K 2003

Exhibit 10.10

SUPPLEMENTAL DIRECTOR'S FEE AGREEMENT

THIS SUPPLEMENTAL DIRECTOR'S FEE AGREEMENT (the "Agreement") is made as of April 27, 1993 by and between PHILLIP D. MATTHEWS, an individual ("Director"), and WOLVERINE WORLD WIDE, INC., a Delaware corporation (the "Company").

R E C I T A L S:

Director is an independent, non-employee director of the Company. Due to his unique and substantial experience in business, the Company desires that Director serve as Chairman of the Company's Board of Directors for a minimum period of one year. In connection with such service, the Company desires that Director commit a substantial amount of his time, efforts and attention to the affairs of the Company and make himself regularly available for consultation with the executive officers of the Company. In performing such services, the Company recognizes and anticipates that Director may be required to forego other business opportunities and reduce or eliminate his participation in other ventures with which he is currently involved. Director is willing and desires to serve as Chairman of the Company's Board of Directors on the terms set forth in this Agreement.

                    ACCORDINGLY, THE PARTIES AGREE AS FOLLOWS:

1.          Service as Chairman. Director agrees to serve as Chairman of the Company's Board of Directors during the term of this Agreement. Director will serve in such position as an officer of the Board of Directors and not as an executive officer or employee of the Company. In connection with such service, Director agrees to assist with and supervise the overall management of the Company as the Chairman of the Board, and to perform such other services as the Board of Directors may reasonably request. Director agrees to devote such amounts of his time, efforts and attention to the affairs of the Company as may be required in his reasonable judgment to perform such services to the satisfaction of the Company's Board of Directors. Director agrees to make himself available on a regular basis for consultation with the Company's executive officers. Notwithstanding anything in this Agreement to the contrary, nothing in this Agreement shall guarantee or require or compel the Company or the Board of Directors to retain Director in the position of Chairman of the Board or otherwise infringe upon the unfettered right of the Board of Directors to elect or appoint any other person to the position of Chairman of the Board of Directors.

2.          Term; Renewal. The term of this Agreement shall be for a period of one year, commencing on April 27, 1993 and ending on April 26, 1994. Unless the Company delivers written notice to the Director on or prior to April 1, 1994, or April 1 of any succeeding year during the term of this Agreement, of its intention not to renew the term of this Agreement for an additional one-year period, then this Agreement shall be automatically renewed for an additional one-year period on the same terms and conditions set forth in this Agreement.

3.          Compensation. In consideration of the extraordinary time, effort and attention Director has agreed to commit to the Company in connection with such service as Chairman of the Company's Board of Directors above and beyond the time, effort and attention expected of other directors of the Company, the Company agrees to compensate Director as follows:

          (a)          Retainer; Meeting Fees.  The Company shall pay to Director the Company's standard retainer fee for service as a member of the Board of Directors as in effect from time to time as and when payable to all directors of the Company.  The Company shall also pay to Director the standard fee for attendance at and participation in meetings of the Board of Directors as and when payable to all directors of the Company.  Director shall not be entitled to compensation for attendance at meetings of committees of the Company's Board of Directors.

          (b)          Additional Compensation.  The Company shall pay to Director a fee of One Hundred Thousand Dollars ($100,000) in twelve (12) equal, monthly installments payable on the last day of each month during the term of this Agreement, commencing May 31, 1993.  The final monthly installment for the first year of this Agreement will be paid to Director on April 26, 1994.

          (c)          Business Expenses.  The Company shall pay or reimburse Director for actual and reasonable business expenses incurred by Director in connection with his service as Chairman of the Company's Board of Directors during the term of this Agreement and, for each one-year term of this Agreement, will also pay directly or reimburse Director for office, clerical and related expenses incurred by Director in connection with such service in an amount not to exceed Fifteen Thousand Dollars ($15,000).

          (d)          Stock Option.  The Company shall grant to Director a non- qualified stock option to purchase 3,000 shares of the Company's Common Stock, $1.00 par value (the "Option Shares").  The per share purchase price for the Option Shares shall be equal to the mean of the highest and lowest prices of sales of shares of Common Stock on the New York Stock Exchange on April 27, 1993.  Such option shall be evidenced by a written agreement containing such terms and conditions, consistent with this Agreement, as the members of the Compensation Committee of the Company's Board of Directors may determine.

          4.          Termination.  This Agreement may be terminated by the Company or by Director as follows:

          (a)          Discretionary Termination by Director.  Director may terminate this Agreement at any time in Director's discretion, for any reason or without reason, upon sixty (60) days' advance written notice delivered to the Chief Executive Officer and Chairman of the Compensation Committee of the Company's Board of Directors.

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          (b)          Termination by Company for Cause.  The Company may terminate this Agreement immediately for Cause.  "Cause" shall include, without limitation, Director's material breach of this Agreement; the willful and continued failure to perform his duties as provided in this Agreement; misappropriation of Company property; activities in aid of a competitor; dishonesty; conviction of a crime involving moral turpitude injurious to the Company; or removal from office by the stockholders of the Company as provided in the Delaware General Corporation Law, as such law may be amended.

          (c)          Termination by Non-renewal.  This Agreement will automatically terminate at the end of any one-year Agreement term if the Company has provided the Director with the notice of non-renewal specified in Section 2 above.

          (d)          Discretionary Termination by Company.  The Company may terminate this Agreement at any time in its discretion, for any reason or without reason.  Any termination of this Agreement by the Company, other than termination for Cause or by non-renewal, shall be deemed to have been a termination under this subsection.

5.          Compensation Upon Termination. The date on which any termination becomes effective is referenced in this Agreement as the "Termination Date." Upon any termination of this Agreement, Director shall be entitled to continue to receive the standard retainer fee and regular fees for attendance at meetings of the Board, plus additional fees for attendance at meetings of Board committees held after the Termination Date, if Director continues to be a director of the Company. In addition, Director shall be entitled to receive the compensation set forth below:

          (a)          If the Agreement is terminated pursuant to Sections 4(a) or 4(b) above, Director shall be entitled to receive the additional compensation provided in Section 3(b) of this Agreement earned by Director through the Termination Date, prorated on the basis of a 365 day year, and reimbursement pursuant to Section 3(c) of all expenses incurred through the Termination Date.

          (b)          If the Agreement is terminated pursuant to Section 4(d) above, except as provided in Section 6 below, Director shall be entitled to receive the full amount of the additional compensation provided in Section 3(b) of this Agreement, and reimbursement pursuant to Section 3(c) of all expenses incurred through the Termination Date.

6.          Termination Following Change in Control. If this Agreement is terminated by the Company pursuant to Sections 4(c) or 4(d) following a Change in Control (as hereafter defined), Director shall be entitled to receive a lump sum payment in cash on the Termination Date of Fifty Thousand Dollars ($50,000). Director shall be entitled to receive the compensation provided in Section 3(b) prorated through the date he receives the lump sum payment provided above, and shall not be entitled to any compensation provided in Section 3(b) for the remaining term of this Agreement from and after such date. For purposes of this Agreement, a "Change in

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Control" shall mean any change in control of the Company of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A issued under the Securities Exchange Act of 1934 (the "1934 Act"); provided, that without limitation a Change in Control shall have occurred for purposes of this Agreement if: (i) any "person" (as such term is defined in Sections 13(d) and 14(d)(2) of the 1934 Act) is or becomes the beneficial owner, directly or indirectly, of securities of the Company representing twenty-five percent (25%) or more of the combined voting power of the Company's then-outstanding securities; or (ii) during any period of two (2) consecutive years, individuals who at the beginning of such period constitute the Board of Directors of the Company cease for any reason to constitute at least a majority thereof, unless the election, or the nomination for election by the Company's stockholders, of each new director was approved by a vote of at least two-thirds (2/3) of the directors then still in office who were directors at the beginning of such period.

7.          Entire Agreement. No agreements or representations, oral or otherwise, express or implied, with respect to the matters covered by this Agreement have been made by either party which are not set forth expressly in this Agreement, and this Agreement supersedes any other agreements on the matters covered by this Agreement.

8.          Amendment and Waiver. This Agreement has been authorized by the Company's Board of Directors. No provisions of this Agreement may be amended, modified, waived or discharged unless such amendment, waiver, modification or discharge is agreed to in a writing specifically authorized by a written Board resolution, and signed by Director and by such director or officer as may be specifically designated by the Board of Directors of the Company in such resolution. No waiver by either party at any time of any breach or non-performance of this Agreement by the other party shall be deemed a waiver of any prior or subsequent breach or non-performance.

9.          Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which will remain in full force and effect as if the invalid or unenforceable provision were absent from this Agreement.

10.          Binding Effect; Assignability. All of the terms of this Agreement shall be binding upon, inure to the benefit of, and be enforceable by and against the successors and authorized assigns of the Company and Director. Neither the Company nor Director shall assign any of their respective rights or obligations under this Agreement to any other person, firm or corporation without the prior written consent of the other party.

11.          Notices. Notices to a party under this Agreement shall be in writing and shall be deemed to have been duly given if delivered, sent by certified or registered mail (postage prepaid), shipped and receipted by express courier service (charges prepaid), or mailed first class (postage prepaid), or transmitted by telecopier or similar facsimile transmitter:

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          (a)          If to Director:

                        Mr. Phillip D. Matthews

                        Matthews, Mullaney & Company

                        100 West Broadway, Suite 970

                        Glendale, California 91210

                        Fax: (818) 543-6659

          (b)          If to the Company:

                        Wolverine World Wide, Inc.

                        9341 Courtland Drive, N.E.

                        Rockford, Michigan 49351

                        Attn: General Counsel

                        Fax: (616) 866-0660

12.          Counterparts. This Agreement may be executed in counterparts, each of which when so executed shall be deemed to be an original and the counterparts shall together constitute one and the same instrument.

13.          Governing Law. The validity, interpretation, and construction of this Agreement shall be governed by the laws of the State of Michigan as applicable to contracts made and to be performed in the State of Michigan, without regard to principles of conflicts of law.

                    IN WITNESS WHEREOF, the parties have signed this Agreement as of the date and year first written above.

	 	
WOLVERINE WORLD WIDE, INC.

	 	 
	 	 
	 	
By:
	
/s/ Daniel T. Carroll

	 	 	
Daniel T. Carroll,

Director and Chairman of the

Compensation Committee of the

   Board of Directors

	 	 	
"Company"

	 	 
	 	 
	 	
/s/ Phillip D. Matthews

	 	
Phillip D. Matthews

	 	
"Director"

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