Document:

EXHIBIT
10.7

     

    EMPLOYMENT
AGREEMENT

    

    THIS EMPLOYMENT AGREEMENT (the
“Agreement”) is made and entered into as of August 31, 2009, by and between The
Wood Energy Group, Inc., a Missouri corporation (“Employer”), and Andy C. Lewis,
an individual residing at 868 South Allis Road, Wilmar, Arkansas 71675
(“Employee”).

    

    RECITALS:

    

    Employer desires to offer Employee an
opportunity to work for Employer as its vice president upon the terms and
conditions hereinafter set forth, and Employee desires to accept such
offer.  Accordingly, the parties agree as follows:

    

    1.           EMPLOYMENT.  Employer hereby
employs Employee and Employee agrees to be employed by Employer as vice
president, or in such other role to which the parties jointly agree, for an
initial five year term commencing on the date of this Agreement and terminating
on August 31, 2014 (the “Employment Period”).  At least 90 days prior
to the end of the Employment Period, the parties shall consider the extension of
the Employment Period, and shall memorialize, in writing, any agreement reached
related thereto.

    

    2.           COMPENSATION.  During the
Employment Period, Employee shall receive as compensation:

    

    (a)           Salary
at the annual rate of $150,000, payable not less frequently than
semi-monthly;

    

    (b)           The
right to participate in all corporate employee benefit programs offered to
senior executives of Employer or B.H.I.T. Inc., Employer’s parent company
(“BHIT”), such as health insurance, life insurance and retirement plans;
and

    

    (c)           An
opportunity to earn an annual bonus based upon goals to be established annually
by the Board of Directors of BHIT (the “Board”) and which will be, in large
measure, tied to the growth of Employer’s earnings before interest, taxes,
depreciation and amortization, or EBITDA.

    

    (d)           An
opportunity to receive BHIT equity compensation as determined by the
Board.

    

    (e)           It
is understood and agreed that the compensation set forth in this section
includes all of the compensation to be paid to Employee hereunder and that
Employee has agreed to forego any other compensation, benefits and perquisites,
including those he had received in his position as vice president of Employer’s
predecessor in the operation of the business of Employer.

    

    3.           DUTIES.  During the
Employment Period, Employee shall report to the Board, who shall be entitled to
establish the duties and responsibilities of Employee hereunder, consistent with
his title, and to modify the foregoing from time to time.

    

    4.           TERMINATION.

    

    (a)           The
employment of Employee pursuant to this Agreement shall terminate automatically
and without further action or liability of either party other than as provided
for in this Agreement upon (i) the death of Employee, (ii) Employee’s
resignation, or (iv) the termination of Employee’s employment by
Employer.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (b)           Employer
may elect to terminate Employee’s employment for any reason.  In the
event of a termination which is not for “Cause,” Employer shall pay severance to
Employee, at a rate equal to Employee’s then current annual salary for six
months, or for such shorter period as remains in the Employment Period (the
“Severance Pay”).  The Severance Pay shall be paid in installments, in
accordance with Employer’s payroll procedures as in effect on the date of this
Agreement during the six month period following the date of such termination of
employment.  The Severance Pay is intended by the parties to be in
settlement of any and all claims of Employee arising out of or related to
Employee’s employment with Employer, including, without limitation, the
termination of such employment, any express or implied employment agreement,
this Agreement, or the breach thereof (collectively, “Employment
Claims”).  In consideration of such payment, and as a condition
precedent to its delivery, Employee shall enter into an agreement, in a form
satisfactory to Employer, pursuant to which Employee shall release and waive any
and all Employment Claims against Employer, and covenant not to sue Employer in
connection with any Employment Claim (the “Release and Severance
Waiver”).

    

    (c)           Employee
shall be terminated for “Cause” if the termination is because of any of the
following: (i) Employee engaging in fraud, misappropriation of funds,
embezzlement or like conduct committed against Employer or a customer or
supplier of Employer, (ii) Employee being convicted (or entering a plea of
nolo contendere) of a
crime involving dishonesty or moral turpitude, (iii) Employee engaging in any
act of sexual misconduct at or in connection with work, including sexual
harassment, (iv) Employee’s alcohol or drug abuse, (v) Employee’s appropriation
of one or more business opportunities of Employer without the prior written
consent of the Board, or other breach of the common law duty of loyalty, (vi)
Employee’s gross negligence which results in material harm to Employer, (vii)
Employee failing to fulfill the duties and responsibilities of his job, after
notice and an opportunity to cure such failure, and (viii) Employee violating,
in a material respect, any provision of this Agreement.  In the event
of such a termination for Cause, Employer shall have no further obligation to
Employee pursuant to this Agreement after the date of termination other than for
the payment of compensation earned by Employee prior to the date of termination
and not yet paid.

    

    5.           COVENANTS
AGAINST COMPETITION.  Employee
recognizes and acknowledges that (i) the principal business of Employer is
railroad tie reclamation and disposal (the “Company Business”); and (ii) the
work of Employee for Employer has brought Employee and will continue to bring
him into close contact with many confidential affairs not readily available to
the public.  Accordingly, Employee covenants and agrees
that:

    

    (a)           Non-Compete.  During
the Employment Period and for two years following the termination of Employee’s
employment hereunder, however caused, Employee shall not, directly or
indirectly, compete with Employer or any affiliate of Employer in any manner, on
behalf of himself or any other person, firm, business, corporation or other
entity (each such other person, firm, business or other entity being referred to
hereinafter as a “Person”), including, without limitation, that Employee shall
not (i) engage in the Company Business for his own account; (ii) except for
employment of Employee by Employer or an affiliate of Employer, enter the employ
of, or render any services to, any Person engaged in the Company Business; or
(iii) become interested in any Person engaged in the Company Business (other
than Employer) as an owner, partner, shareholder, officer, director, licensor,
licensee, principal, agent, employee, trustee, consultant or in any other
relationship or capacity; provided, however, that Employee may own, directly or
indirectly, solely as an investment, securities of BHIT or any corporation which
is traded on any national securities exchange if he (A) is not a controlling
person of, or a member of a group which controls, such corporation, or (B) does
not, directly or indirectly, own 1% or more of any class of securities of such
corporation.

    
      
         

      

      
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    (b)           Non-Solicitation of
Customers.  In addition to the covenants of non-competition set
forth in subparagraph (a) above, during the Employment Period and for two years
following the termination of Employee’s employment with Employer, however
caused, Employee shall not, directly or indirectly, on behalf of himself or any
Person, solicit the business of any “Customer” (as hereinafter defined) of
Employer or any affiliate of Employer, or request or instigate any Customer to
withdraw, diminish, curtail or cancel any of its business with
Employer.  For purposes of this Agreement, “Customer” shall mean any
Person with whom Employer or any affiliate of Employer has had material dealings
during any part of the term of Employee’s employment with Employer, and
includes, without limitation, any Person with whom Employer or any affiliate of
Employer is doing business, or any Person who has been actively solicited for
business by Employer or any affiliate of Employer or its agent and such
solicitation is ongoing, as of the date of the termination of Employee’s
employment.

    

    (c)           Confidential
Information.  Employee recognizes and acknowledges that
confidential information, including, without limitation, information, knowledge
or data (i) of a technical
nature such as but not limited to methods, know-how, formulae, compositions,
processes, discoveries, machines, inventions, products, product specifications,
computer programs and similar items or research projects, and trade secrets of
Employer and Employer’s affiliates; (ii) of a business nature such as but not
limited to information about cost, purchasing, profits, market, sales or
Customers, including lists of Customers, and the financial condition of
Employer; (iii) pertaining to future developments such as but not limited to
research and development or future marketing or merchandising; and (iv) all
other matters which Employer treats as confidential (the items described above
being referred to collectively hereinafter as “Confidential Information”), are
valuable, special and unique assets of Employer and Employer’s
affiliates.  Employee shall at all times keep secret and retain in
strictest confidence, and shall not use for the benefit of himself or others
except in connection with the business and affairs of Employer, any and all
Confidential Information learned by Employee before or after the date of this
Agreement, and shall not disclose such Confidential Information to anyone
outside of Employer either during or after employment by Employer, except as
required in the course of performing duties of his employment with Employer,
without the express written consent of Employer or as required by
law.

    

    (d)           Property of
Employer.  Employee agrees to deliver promptly to Employer all
drawings, blueprints, manuals, letters, notes, notebooks, reports, sketches,
formulae, computer programs and files, memoranda, Customer lists and all other
materials relating in any way to the Company Business and in any way obtained by
Employee during the period of his employment with Employer which are in his
possession or under his control, and all copies thereof, (i) upon termination of
Employee’s employment with Employer, or (ii) at any other time at Employer’s
request.  Employee further agrees that he will not make or retain any
copies of any of the foregoing and will so represent to Employer upon
termination of his employment.

    

    (e)           Employees of
Employer.  During the Employment Period and for two years
following the termination of Employee’s employment with Employer, however
caused, Employee shall not, directly or indirectly, hire, solicit or encourage
to leave the employment of Employer or its affiliates any employee of Employer
or its affiliates, or hire any such employee who has left the employment of
Employer or its affiliates within one year of the termination of such employee’s
employment with Employer or its affiliates.

    

    (f)           Tolling.  In
the event of Employee’s breach of subparagraph (a), (b) or (e) of this paragraph
5, the running of the period of time of the restriction set forth therein shall
be automatically tolled (i.e., no part of that period shall expire) from and
after the date of the first such breach.

    
      
         

      

      
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    (g)           Remedies.  Employee
agree that there is no adequate remedy at law, and that money damages would not
be a sufficient remedy, for any breach of this paragraph 5, and that Employer
shall be entitled to specific performance (including but not limited to an
injunction) as a remedy for any such breach, without having to post a bond or
prove actual damages.  Specific performance shall not be deemed to be
the exclusive remedy for any breach of this paragraph 5 but shall be in addition
to all other remedies provided by law or equity.  Employee agree that
Employee shall indemnify and hold Employer and its members, managers, officers,
employees, agents and representatives harmless from and against all actions,
claims, liabilities, damages, expenses and costs (including reasonable legal
fees) that any of them may sustain, incur or expend as a result of any breach by
Employee of this paragraph 5.  Without limiting the generality of the
foregoing, in the event that Employer takes legal proceedings to enforce the
provisions of this paragraph 5 and Employee are found to be in violation of its
terms, Employee shall reimburse Employer for the legal fees and disbursements
Employer incurs in such proceedings.

    

    (h)           Blue-Pencilling.  If
any court determines that any of the covenants set forth in this paragraph 5, or
any part thereof, is unenforceable because of the scope, duration and/or
geographical area covered by such provision, such court shall have the power to
reduce the scope, duration or area of such provision and, in its reduced form,
such provision shall then be enforceable and shall be enforced.

    

    6.           NON-ASSIGNMENT.  This Agreement is
a personal services contract and it is expressly agreed that the rights and
interests of Employee and Employer hereunder may not be sold, transferred,
assigned, pledged or hypothecated; provided, however, that Employer may assign
its rights and obligations hereunder to any entity which acquires a substantial
part of the assets or equity of Employer, or to any entity affiliated with
Employer, whether presently existing or formed after the date
hereof.

    

    7.           SEVERABILITY.  In case any one
or more of the provisions contained in this Agreement shall, for any reason, be
held to be invalid, illegal or unenforceable in any respect by a court of
competent jurisdiction, such invalidity, illegality or unenforceability shall
not affect any other provision of this Agreement, but this Agreement shall be
construed as if such invalid, illegal, or unenforceable provision had never been
contained herein.

    

    8.           EFFECT OF
CAPTIONS.  The captions in
this Agreement are included for convenience only and shall not in any way effect
the interpretation or construction of any provision hereof.

    

    9.           REMEDIES
CUMULATIVE; NO WAIVER.  All remedies
specified herein or otherwise available shall be cumulative and in addition to
any and every other remedy provided hereunder or now or hereafter
available.  No waiver or failure (intentional or unintentional) to act
with respect to any breach or default hereunder shall be deemed to be a waiver
with respect to any subsequent breach or default, whether of a similar or
different nature.

    

    10.         NOTICES.  All notices,
requests, demands, applications, services of process, and other communications
which are required to be or may be given under this Agreement shall be deemed to
have been duly given if personally delivered, if sent by facsimile transmission,
or if mailed via certified first class mail, postage prepaid, return receipt
requested, to the parties hereto at the address set forth in the first paragraph
of this Agreement, or to such other address as a party shall furnish to the
other by notice given in accordance with this paragraph.

    
      
         

      

      
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    11.         GOVERNING
LAW; JURISDICTION: LIMITATIONS ON FILING ACTIONS.  This
Agreement shall be governed by and construed in accordance with the substantive
law of the State of Florida.  The parties intend to and hereby do
confer jurisdiction upon the courts of any jurisdiction within the State of
Florida to determine any dispute arising out of or related to this Agreement,
including the enforcement and the breach hereof.  The parties agree
that any claim arising out of or related to this Agreement, or the breach
hereof, must be filed within one year after the date of the alleged breach and
that any claim which is not filed within such one year period is waived, and
that any statute of limitations to the contrary is hereby waived.

    

    12.         SECTION
409A.

    

    (a)           To
the extent applicable, this Agreement shall be interpreted, construed and
administered in accordance with Section 409A of the Internal Revenue Code of
1986, as amended, and the U.S. Department of Treasury regulations and other
interpretive guidance issued thereunder, each as in effect from time to time
(collectively, “Section 409A”).

    

    (b)           To
ensure compliance with Section 409A, Employer shall pay any salary amount
payable under paragraph 2(a) and any bonus amount payable under paragraph 2(c)
on a date no later than the later of the fifteenth day of the third month
following the end of Employer’s or Employee’s  taxable year in which
the amount was earned and accrued.

    

    (c)           Notwithstanding
anything to the contrary in this Agreement, Employer shall be under no
obligation to provide the Severance Pay described in paragraph 4(b) of this
Agreement unless Employee shall have executed the Release and Severance Waiver
(and the applicable revocation period shall have expired) within 55 days
following the date of Employee’s termination of employment.  The
payment of the amounts payable under paragraph 4(b) shall begin no later than 60
days following the date of termination of employment in accordance with
paragraph 4(b) above.

    

    (d)           For
purposes of Section 409A (including, without limitation, for purposes of U.S.
Treasury Regulation Section 1.409A-2(b)(2)(iii)), Employee’s  right to
receive the installment payments described in paragraph 4(b) above shall be
treated as a right to receive a series of separate payments and, accordingly,
each installment payment shall at all times be considered a separate and
distinct payment.

    

    (e)           Notwithstanding
anything herein to the contrary, to the extent any of the amounts payable under
paragraph 4(b) above are treated as non-qualified deferred compensation subject
to Section 409A, then no portion of such amounts shall be payable to Employee
unless Employee’ termination of employment constitutes a “separation from
service,” as defined in U.S. Treasury Regulation Section 409A-1(h) (and any
successor provision thereto).

    

    (f)           To
the maximum extent permitted by applicable law, the amounts payable to Employee
under this Agreement shall be made in reliance upon U.S. Treasury Regulation
Section 1.409A-1(b)(9) (with respect to separation pay plans) or U.S. Treasury
Regulation Section 1.409A-1(b)(4) (with respect to short-term
deferrals).

    

    13.     
   ENTIRE
AGREEMENT.  This Agreement
embodies the entire agreement and understanding between Employer and Employee
and supersedes all prior agreements and understandings relating to the subject
matter hereof.

    
      
         

      

      
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    IN WITNESS WHEREOF, the
undersigned have hereunto set their hands on the date first hereinabove
mentioned.

    

    
      
        	
                The
      Wood Energy Group, Inc.

              
	 
      
	
                /s/ Gary O. Marino

              
	
                By
      Gary O. Marino, Chief Executive Officer

              
	 
      
	
                /s/ Andy C. Lewis

              
	
                Andy
      C. Lewis

              

      

    

    
      
         

      

      
        6Exhibit 10.1
    

    

    

    
      SENIOR EXECUTIVE
EMPLOYMENT AGREEMENT
    

    
      THIS SENIOR EXECUTIVE EMPLOYMENT AGREEMENT (the “Agreement”)
      is made as of September 11, 2009, by and between DECKERS OUTDOOR
      CORPORATION, a Delaware corporation (the “Company”),
      and Thomas A. George (the “Executive”) and is effective as
      of September 11, 2009 (the “Effective Date”).
    

    
      ARTICLE I
DUTIES AND TERM
    

    
      1.1       EMPLOYMENT.  In
      consideration of their mutual covenants and other good and valuable
      consideration, the receipt, adequacy, and sufficiency of which is hereby
      acknowledged, the Company agrees to enter into this Agreement with the
      Executive, on an “at will” basis, and the Executive agrees to enter into
      this Agreement upon the terms and conditions herein provided and in
      accordance with all applicable employment rules of the Company.
    

    
      1.2       POSITION AND
      RESPONSIBILITIES.  The Executive will serve as Chief Financial
      Officer and shall report to the Company’s President and Chief Executive
      Officer.
    

    
      1.3       TERM.  The term of
      the Executive’s employment under this Agreement will commence on the
      Effective Date of this Agreement and will continue, unless sooner
      terminated, until December 31, 2009. Employment of the Executive is at
      will and will continue until such time as written notice of termination
      is given by the Company or written notice is given by the Executive.
    

    
      1.4       AT-WILL EMPLOYMENT.  Executive
      will continue to be employed as an at-will employee of the
      Company.  Subject to the provisions of Articles III and IV, as an
      at-will employee, Executive is free to terminate his/her employment with
      the Company at any time, for any reason, and the Company has the similar
      right to terminate Executive’s employment at any time, for any
      reason.  Although the Company may choose to terminate Executive’s
      employment for cause, Executive’s employment is at-will and cause is not
      required.  
    

    
      ARTICLE II
COMPENSATION
    

    
      For all services rendered by the Executive in any capacity during the
      Executive’s employment under this Agreement, the Company will compensate
      the Executive as follows:
    

    
      2.1       BASE SALARY.  Effective
      as of September 11, 2009, the Company will pay to the Executive an
      annual base salary of Three Hundred Fifty Thousand Dollars ($350,000) to
      be paid in equal installments in accordance with the Company’s general
      payment policies in effect during the term hereof (the “Base
      Salary”).
    

    
      2.2       INCENTIVE BONUS.  The
      Executive shall be eligible to receive a targeted annual bonus based on
      performance criteria established annually by the Compensation Committee
      (the “Incentive Bonus”).
    

    
      
        

        

      

      
        
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      2.3       STOCK COMPENSATION.  The
      Executive may be granted options to purchase shares of Company Common
      Stock or Restricted Stock Units to purchase shares of Company Common
      Stock in accordance with the Company’s Stock Option Plan.  Any grants
      must be approved by the Compensation Committee.
    

    
      2.4       ADDITIONAL BENEFITS.  The
      Executive will be entitled to participate in all benefit and welfare
      programs, plans, and arrangements that are from time to time made
      available to the Company’s like-level executive employees.
    

    
      ARTICLE III
TERMINATION OF EMPLOYMENT
    

    
      3.1       GENERAL.  While
      Executive is an at-will employee as provided at Section 1.4
      above, the follow conditions for termination of employment are set forth
      in order to determine the nature of Executive compensation entitlement
      upon termination of employment as discussed in Article IV
      below.  Neither the provisions of Article III or Article IV of this
      Agreement shall alter the at-will nature of Executive’s employment with
      the Company.
    

    
      3.2       DEATH OR RETIREMENT OF
      EXECUTIVE.  The Executive’s employment under this Agreement will
      automatically terminate upon the death or Retirement (as defined in Section
      6.1) of the Executive.
    

    
      3.3       BY EXECUTIVE.  The
      Executive may terminate the Executive’s employment under this Agreement
      by giving Notice of Termination (as defined in Section 6.1
      hereof) to the Company:
    

    
      (a)       for Good Reason (as defined in Section
      6.1 hereof); and
    

    
      (b)       at any time without Good Reason.
    

    
      3.4       BY COMPANY.  The
      Company may terminate the Executive’s employment under this Agreement by
      giving Notice of Termination to the Executive:
    

    
      (a)       in the event of Executive’s Total Disability (as defined in Section
      6.1 hereof);
    

    
      (b)       for Cause (as defined in Section
      6.1 hereof); and
    

    
      (c)       at any time without Cause.
    

    
      ARTICLE IV
COMPENSATION UPON TERMINATION OF EMPLOYMENT
    

    
      If the Executive’s employment hereunder is terminated, in accordance
      with the provisions of Article III hereof, and except for any
      other rights or benefits specifically provided for herein to be
      effective following the Executive’s period of employment, the Company
      will provide compensation and benefits to the Executive only as follows:
    

    
      
        

        

      

      
        
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      4.1       UPON TERMINATION FOR
      DEATH OR DISABILITY.  If the Executive’s employment hereunder is
      terminated by reason of the Executive’s death or Total Disability, the
      Company will:
    

    
      (a)       pay the Executive (or the Executive’s estate) or beneficiaries
      any Base Salary that has accrued but was not paid as of the termination
      date (the “Accrued Base Salary”);
    

    
      (b)       pay the Executive (or the Executive’s estate) or beneficiaries
      for unused vacation days accrued as of the termination date in an amount
      equal to the Executive’s Base Salary multiplied by a fraction the
      numerator of which is the number of accrued unused vacation days and the
      denominator of which is 260 (the “Accrued Vacation Payment”);
    

    
      (c)       subject to Section 4.6 hereof, reimburse the Executive (or the
      Executive’s estate) or beneficiaries for expenses incurred by him prior
      to the date of termination that are subject to reimbursement pursuant to
      this Agreement (the “Accrued Reimbursable Expenses”);
    

    
      (d)       provide to the Executive (or the Executive’s estate) or
      beneficiaries any accrued and vested benefits required to be provided by
      the terms of any Company-sponsored benefit plans or programs (the “Accrued
      Benefits”), together with any benefits required to be paid or
      provided in the event of the Executive’s death or Total Disability under
      applicable law;
    

    
      (e)       pay the Executive (or the Executive’s estate) or beneficiaries
      any Incentive Bonus with respect to a fiscal year prior to the year of
      termination that has been earned and accrued but has not been paid (the “Accrued
      Incentive Bonus”); plus a pro-rated portion of the Incentive Bonus
      based on the actual length of service during the year of termination
      paid within sixty (60) days after the Executive’s date of termination;
      and
    

    
      (f)       the Executive (or the Executive’s estate) or beneficiaries
      shall have the right to exercise all vested unexercised stock options
      and warrants outstanding at the termination date in accordance with
      terms of the plans and agreements pursuant to which such options or
      warrants were issued.
    

    
      4.2       UPON TERMINATION BY
      COMPANY FOR CAUSE OR BY EXECUTIVE WITHOUT GOOD REASON.  If the
      Executive’s employment is terminated by the Company for Cause, or if the
      Executive terminates the Executive’s employment with the Company other
      than (x) upon the Executive’s death or Total Disability or (y) for Good
      Reason, the Company will:
    

    
      (a)       pay the Executive the Accrued Base Salary;
    

    
      (b)       pay the Executive the Accrued Vacation Payment;
    

    
      (c)       subject to Section 4.6 hereof, pay the Executive the Accrued
      Reimbursable Expenses;
    

    
      (d)       pay the Executive the Accrued Benefits, together with any
      benefits required to be paid or provided under applicable law;
    

    
      
        

        

      

      
        
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      (e)       pay the Executive any Accrued Incentive Bonus, and excluding
      any Incentive Bonus for the year of termination; and
    

    
      (f)       the Executive will have the right to exercise vested options
      and warrants in accordance with Section 4.1(f) hereof.
    

    
      4.3       UPON TERMINATION BY THE
      COMPANY WITHOUT CAUSE OR BY EXECUTIVE FOR GOOD REASON.  In the event
      the Executive has incurred a Separation from Service (within the meaning
      of Section 409A(a)(2)(A)(i) of the Internal Revenue Code of 1986, as
      amended (the “Code”), and Treasury Regulation Section 1.409A-1(h))
      (“Separation from Service”) by reason of a termination of the
      Executive’s employment by the Company without Cause or by the Executive
      for Good Reason, the Company will:
    

    
      (a)       pay the Executive the Accrued Base Salary;
    

    
      (b)       pay the Executive the Accrued Vacation Payment;
    

    
      (c)       subject to Section 4.6 hereof, pay the Executive the Accrued
      Reimbursable Expenses;
    

    
      (d)       pay the Executive the Accrued Benefits, together with any
      benefits required to be paid or provided under applicable law;
    

    
      (e)       pay the Executive any Accrued Incentive Bonus; plus a
      pro-rated portion of the Incentive Bonus based on the actual length of
      service during the year of termination;
    

    
      (f)       pay the Executive severance, commencing within sixty (60) days
      following the termination date, of twelve (12) monthly payments equal to
      one-twelfth (1/12th) of the Executive’s Annual Base Salary in
      effect immediately prior to the time such termination occurs and paid on
      the regular monthly payroll dates of the Company in accordance with the
      Company’s payroll practices as in effect on such termination date.  Each
      installment payment made pursuant to this Section 4.3(f) shall be
      considered a separate payment for purposes of Section 409A of the Code
      (including, without limitation, for purposes of Treasury Regulation
      Section 1.409A-2(b)(2)(iii)).  Severance will be mitigated on a dollar
      for dollar basis for any income received by Executive for duties
      performed for Company or any third party during the twelve (12) months
      following termination;
    

    
      (g)       maintain in full force and effect, for the Executive’s and the
      Executive’s eligible beneficiaries, until the first to occur of (x) the
      Executive’s attainment of alternative employment if such employment
      includes health insurance benefits or (y) the twelve (12) month
      anniversary of termination of employment, the benefits provided pursuant
      to Company-sponsored benefit plans, programs, or other arrangements in
      which the Executive was entitled to participate as a full-time employee
      immediately prior to such termination in accordance with Section 2.4
      hereof, subject to the terms and conditions of participation as provided
      under the general terms and provisions of such plans, programs, and
      arrangements, or in the alternate, the Company will arrange to provide
      the Executive with continued benefits substantially similar to those
      which the Executive would have been entitled to receive under such
      plans, programs, and arrangements (the “Continued Benefits”);
      and
    

    
      
        

        

      

      
        
          4
        

        
          

        

      

      
        

        

      

    

    
      (h)       the Executive shall have the right to exercise vested options
      and warrants in accordance with Section 4.1(f).
    

    
      4.4       UPON CHANGE OF CONTROL
      AND TERMINATION BY THE COMPANY WITHOUT CAUSE OR BY EXECUTIVE FOR GOOD
      REASON.  In the event the Executive has incurred a Separation from
      Service by reason of a termination of the Executive’s employment, within
      two (2) years of a Change of Control, by the Company without Cause or by
      the Executive for Good Reason, the Company will:
    

    
      (a)       pay the Executive the Accrued Base Salary;
    

    
      (b)       pay the Executive the Accrued Vacation Payment;
    

    
      (c)       subject to 4.6 hereof, pay the Executive the Accrued
      Reimbursable Expenses;
    

    
      (d)       pay the Executive the Accrued Benefits, together with any
      benefits required to be paid or provided under applicable law;
    

    
      (e)       pay the Executive any Accrued Incentive Bonus; plus a
      pro-rated portion of the Incentive Bonus based on the actual length of
      service during the year of termination;
    

    
      (f)       pay the Executive severance of one and one-half (1.5) times
      Executive’s Annual Base Salary in effect immediately prior to the time
      such termination occurs plus the greater of (x) one and one-half (1.5)
      times the targeted Incentive Bonus immediately prior to the time such
      termination occurs or (y) one and one-half (1.5) times the average
      actual Incentive Bonus for the previous three (3) years, whichever is
      greater, in lump sum within sixty (60) days after Executive’s date of
      termination;
    

    
      (g)       maintain in full force and effect, for the Executive’s and the
      Executive’s eligible beneficiaries, until the first to occur of (x) the
      Executive’s attainment of alternative employment if such employment
      includes health insurance benefits or (y) the eighteen (18) month
      anniversary of termination, the benefits provided pursuant to
      Company-sponsored benefit plans, programs, or other arrangements in
      which the Executive was entitled to participate as a full-time employee
      immediately prior to such termination in accordance with Section 2.4
      hereof, subject to the terms and conditions of participation as provided
      under the general terms and provisions of such plans, programs, and
      arrangements, or in the alternate, the Company will arrange to provide
      the Executive with Continued Benefits substantially similar to those
      which the Executive would have been entitled to receive under such
      plans, programs, and arrangements; and
    

    
      (h)       the Executive shall have the right to exercise vested options
      and warrants in accordance with Section 4.1(f).
    

    
      4.5       RELEASE.  Notwithstanding
      any provision herein to the contrary, the Company may require that,
      prior to payment of any amount or provision of any benefit pursuant to
      subsection (f) or (g) of Sections 4.3 and 4.4, Executive
      shall have executed, on or prior to the Release Expiration Date, a
      customary general release in favor of the Company in the form attached
      hereto as Exhibit A, and any waiting periods contained in such
      release shall have expired.  To the extent that the Company requires
      execution of such release, the Company shall deliver such release to
      Executive within five (5) business days following the termination of
      Executive’s employment hereunder.  In the event that Executive fails to
      execute such release on or prior to the Release Expiration Date,
      Executive shall not be entitled to any payments or benefits pursuant to
      subsections (f) or (g) of Sections 4.3 and 4.4.
    

    
      
        

        

      

      
        
          5
        

        
          

        

      

      
        

        

      

    

    
      4.6       Accrued Reimbursable
      Expenses.  Without limiting the Company’s obligation under Sections
      4.1(c), 4.2(c), 4.3(c) and 4.4(c) hereof, the reimbursement of any
      Accrued Reimbursable Expenses shall be made no later than December 31 of
      the year following the year in which the expense was incurred.  
    

    
      4.7       Section 409A.  
    

    
      (a)       Notwithstanding anything herein to the contrary, to the extent
      (i) any amount or benefit payable to the Executive pursuant to Sections
      4.1, 4.2, 4.3 or 4.4 is treated as
      non-qualified deferred compensation subject to Section 409A of the Code,
      (ii) the Company’s securities are publicly traded on the date of the
      Executive’s termination of employment, (iii) the Executive is determined
      by the Company to be a “specified employee” for purposes of Section
      409A(a)(2)(B)(i) of the Code, and (iv) the Company determines that
      delayed commencement of any portion of the amounts payable to Executive
      pursuant to Sections 4.1, 4.2, 4.3 or 4.4 is
      required in order to avoid a prohibited distribution under Section
      409A(a)(2)(B)(i) of the Code (any such delayed commencement, a “Payment
      Delay”), then such portion of the Executive’s payments and/or benefits
      described in Sections 4.2, 4.3 or 4.4, as the case
      may be, shall not be provided to Executive prior to the earlier of (A)
      the expiration of the six-month period measured from the date of the
      Executive’s date of termination, (B) the date of the Executive’s death
      or (C) such earlier date as is permitted under Section 409A.  Upon the
      expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral
      period, all payments deferred pursuant to a Payment Delay shall be paid
      in a lump sum to Executive on the first day following such expiration,
      and any remaining payments due under Sections 4.1, 4.2, 4.3
      or 4.4 shall be paid as otherwise provided herein.  
    

    
      (b)       Notwithstanding anything in this Section 4.7 to the contrary,
      to the maximum extent permitted by applicable law, amounts payable to
      Executive pursuant to Sections 4.2, 4.3 or 4.4, as
      the case may be, shall be made in reliance upon the Section 409A Safe
      Harbor Limit (as defined in Article VI) and/or the exception for
      short-term deferrals (as set forth in Treasury Regulation Section
      1.409A-1(b)(4)).  
    

    
      ARTICLE V
ADDITIONAL AGREEMENTS
    

    
      5.1       OTHER AGREEMENTS.  As
      further material consideration for the Company entering into this
      Agreement, the Executive will also execute the Company’s standard
      employee confidentially agreement, inventions assignment agreement, and
      any other agreements required to be executed by all like level
      executives of the Company.
    

    
      5.2       EMPLOYEE’S RESTRICTIVE
      COVENANTS UPON TERMINATION.  If the Executive’s employment is
      terminated for any reason, Executive agrees:
    

    
      
        

        

      

      
        
          6
        

        
          

        

      

      
        

        

      

    

    
      (a)       To keep all of the Company’s Confidential Information
      confidential in perpetuity in accordance with the Company’s policy; and
    

    
      (b)       To not hire or solicit for hire or consultation employees of
      the Company for a period of one and one-half  (1 1/2) years after
      termination of employment.
    

    
      ARTICLE VI
MISCELLANEOUS
    

    
      6.1       DEFINITIONS.  For
      purposes of this Agreement, the following terms will have the following
      meanings:
    

    
      (a)       “Accrued Base
      Salary” - as defined in Section 4.1(a) hereof.
    

    
      (b)       “Accrued Benefits”
      - as defined in Section 4.1(d) hereof.
    

    
      (c)       “Accrued Incentive
      Bonus” - as defined in Section 4.1(e) hereof.
    

    
      (d)       “Accrued
      Reimbursable Expenses” - as defined in Section 4.1(c)
      hereof.
    

    
      (e)       “Accrued Vacation
      Payment” - as defined in Section 4.1(b) hereof.
    

    
      (f)       “Affiliate” of
      a Person means a Person that directly or indirectly through one or more
      intermediaries, controls, is controlled by, or is under common control
      with, the first Person. “Control” (including the terms
      “controlled by” and “under common control with”) means the possession,
      directly or indirectly, of the power to direct or cause the direction of
      the management or policies of a Person, whether through the ownership of
      voting securities, by contract or credit arrangement, as trustee or
      executor, or otherwise.
    

    
      (g)       “Incentive Bonus”
      as defined in Section 2.2 hereof.
    

    
      (h)       “Base Salary”
      as defined in Section 2.1 hereof.
    

    
      (i)       “Cause” will
      mean any willful breach of duty by the Executive in the course of the
      Executive’s employment, continued violation of written Company
      employment policies after written notice of such violation, violation of
      the Company’s Insider Trading Policies, conviction of a felony or any
      crime involving fraud, theft, embezzlement, dishonesty or moral
      turpitude, engaging in activities which materially defame the Company,
      engaging in conduct which is material injurious to the Company or its
      Affiliates, or any of their respective customer or supplier
      relationships, financially or otherwise, or the Executive’s gross
      negligence or continued failure to perform Executive’s duties or his/her
      continued incapacity to perform such duties.
    

    
      (j)       “Change of Control”
      will mean if there is a merger, consolidation, sale of all or a major
      portion of the assets of the Company (or a successor organization) or
      similar transaction or circumstance where any person or group (other
      than Douglas B. Otto) acquires or obtains the right to acquire, in one
      or more transactions, beneficial ownership of more than Fifty Percent
      (50%) of the outstanding shares of any class of voting stock of the
      Company (or a successor organization).
    

    
      
        

        

      

      
        
          7
        

        
          

        

      

      
        

        

      

    

    
      (k)       “Compensation
      Committee” means the Compensation Committee of the Company’s Board
      of Directors.
    

    
      (l)       “Continued Benefits”
      as defined in Section 4.3(g) hereof.
    

    
      (m)       “Good Reason”
      will mean, without the consent of the Executive (1) the occurrence of
      material breach of this Agreement by the Company, or (2) if within two
      (2) years of a Change of Control, there is a material reduction of the
      Executive’s total compensation, benefits, and perquisites, the Company’s
      relocation is greater than fifty (50) miles from the location where the
      Executive performs services, or a material change in the Executive’s
      position or duties; provided, however, no such event shall constitute
      “Good Reason” hereunder unless the Executive shall have given written
      notice to the Company of Executive’s intent to resign for “Good Reason”
      within thirty (30) days after the Executive first becomes aware of the
      occurrence of any such event (specifying the nature and scope of the
      event) and such event or occurrence shall not have been cured within
      thirty (30) days of the Company’s receipt of such notice.
    

    
      (n)       “Notice of
      Termination” will mean a notice which shall indicate the specific
      termination provision of this Agreement relied upon and shall generally
      set forth the basis for termination of the Executive’s employment under
      the provision so indicated.
    

    
      (o)       “Person” means
      any natural person, firm, partnership, association, corporation,
      company, limited liability company, limited partnership, trust, business
      trust, governmental authority, or other entity.
    

    
      (p)       “Release
      Expiration Date” shall mean the date which is twenty-one (21) days
      following the date upon which the Company delivers Executive the release
      contemplated in Section 4.5 above, or, in the event that such
      termination of employment is “in connection with an exit incentive or
      other employment termination program” (as such phrase is defined in the
      Age Discrimination in Employment Act of 1967), the date which is
      forty-five (45) days following such delivery date.
    

    
      (q)       “Retirement”
      will mean normal retirement at age 65.
    

    
      (r)       “Section 409A Safe
      Harbor Limit” will mean, as determined in accordance with Treasury
      Regulation §1.409A-1(b)(9)(iii), an amount equal to two (2) times the
      lesser of (i) Executive’s annual rate of compensation for the taxable
      year immediately preceding the taxable year in which Executive’s
      employment is terminated by the Company or (ii) the dollar amount in
      effect under Section 401(a)(17) of the Code for the taxable year in
      which Executive’s employment is terminated.
    

    
      (s)       “Severance”
      will mean payments after termination of Executive’s employment.  
    

    
      (t)       “Total Disability”
      will mean the Executive’s failure substantially to perform the
      Executive’s duties hereunder on a full-time basis for a period exceeding
      one hundred eighty (180) consecutive days or for periods aggregating
      more than one hundred eighty (180) days during any twelve (12) month
      period as a result of incapacity due to physical or mental illness.  If
      there is a dispute as to whether the Executive is or was physically or
      mentally unable to perform the Executive’s duties under this Agreement,
      such dispute will be submitted for resolution to a licensed physician
      agreed upon by the Company and the Executive, or if an agreement cannot
      be promptly reached, the Company and the Executive will promptly each
      select a physician, and if these physicians cannot agree, the physicians
      will promptly select a third physician whose decision will be binding on
      all parties.  If such a dispute arises, the Executive will submit to
      such examinations and will provide such information as such physician(s)
      may request, and the determination of the physician(s) as to the
      Executive’s physical or mental condition will be binding and
      conclusive.  Notwithstanding the foregoing, if the Executive
      participates in any group disability plan provided by the Company, which
      offers long-term disability benefits, “Total Disability”
      will mean total disability as defined therein.
    

    
      
        

        

      

      
        
          8
        

        
          

        

      

      
        

        

      

    

    
      6.2       KEY MAN INSURANCE.  The
      Company will have the right, in its sole discretion, to purchase “key
      man” insurance on the life of the Executive.  The Company shall be the
      owner and beneficiary of any such policy.  If the Company elects to
      purchase such a policy, the Executive will take such physical
      examinations and supply such information as may be reasonably requested
      by the insurer.
    

    
      6.3       SUCCESSORS; BINDING
      AGREEMENT.  This Agreement will be binding upon any successor to the
      Company and will inure to the benefit of and be enforceable by the
      Executive’s personal or legal representatives, beneficiaries, designees,
      executors, administrators, heirs, distributees, devisees and legatees.
    

    
      6.4       MODIFICATION; NO WAIVER.  This
      Agreement may not be modified or amended except by an instrument in
      writing signed by the parties hereto.  No term or condition of this
      Agreement will be deemed to have been waived, nor will there be any
      estoppel against the enforcement of any provision of this Agreement,
      except by written instrument by the party charged with such waiver or
      estoppel. No such written waiver will be deemed a continuing waiver
      unless specifically stated therein, and each such waiver will operate
      only as to the specific term or condition waived and will not constitute
      a waiver of such term or condition for the future or as to any other
      term or condition.
    

    
      6.5       SEVERABILITY.  The
      covenants and agreements contained herein are separate and severable and
      the invalidity or unenforceability of any one or more of such covenants
      or agreements, if not material to the employment arrangement that is the
      basis for this Agreement, will not affect the validity or enforceability
      of any other covenant or agreement contained herein.
    

    
      6.6       FORM OF NOTICE TO PARTIES.  All
      notices, requests, demands, waivers and other communications required or
      permitted to be given under this Agreement shall be in writing and shall
      be deemed to have been duly given if (a) delivered personally, (b)
      mailed by first-class, registered or certified mail, return receipt
      requested, postage prepaid, or (c) sent by next-day or overnight mail or
      delivery or (d) sent by telecopy or telegram, to the following address:
    

    
    	
           
        	
          
            If to the Executive:
          

        	
          Thomas A. George
        
	

        	

        	
          __________________
        
	

        	

        	
          __________________
        
	

        	
          
             
          

        	

        
	

        	
          
            If to the Company:
          

        	
          Deckers Outdoor Corporation
        
	

        	

        	
          495-A South Fairview Avenue
        
	

        	

        	
          Goleta, CA 93117
        
	

        	

        	
          Attn: Angel Martinez
        
	

        	

        	
          Facsimile: 805-967-7862
        

    

    
      

    

    
      
        

        

      

      
        
          9
        

        
          

        

      

      
        

        

      

    

    
      or, in each case, at such other address as may be specified in writing
      to the other parties hereto.
    

    
      All such notices, requests, demands, waivers and other communications
      shall be deemed to have been received (w) if by personal delivery on the
      day after such delivery, (x) if by certified or registered mail, on the
      seventh business day after the mailing thereof, (y) if by next-day or
      overnight mail or delivery, on the day delivered, (z) if by telecopy or
      telegram, on the next day following the day on which such telecopy or
      telegram was sent, provided that a copy is also sent by certified or
      registered mail.
    

    
      6.7       ASSIGNMENT.  This
      Agreement and any rights hereunder will not be assignable by either
      party without the prior written consent of the other party except as
      otherwise specifically provided for herein.
    

    
      6.8       ENTIRE UNDERSTANDING.  This
      Agreement constitutes the entire understanding between the parties
      hereto and no agreement, representation, warranty or covenant has been
      made by either party except as expressly set forth herein.
    

    
      6.9       EXECUTIVE’S
      REPRESENTATIONS.  The Executive represents and warrants that neither
      the execution and delivery of this Agreement nor the performance of the
      Executive’s duties hereunder violates the provisions of any other
      agreement to which he is a party or by which he is bound.
    

    
      6.10      GOVERNING LAW .  This
      Agreement will be construed in accordance with the laws of the State of
      California, without regard to the conflict of laws provisions thereof,
      with venue proper only in the County of Santa Barbara, California.
    

    
      6.11      ARBITRATION.
    

    
      (a)       Except as provided in Section
      6.11(c) below, the parties hereto agree that any dispute or
      controversy arising out of, relating to, or in connection with this
      Agreement, or the interpretation, validity, construction, performance,
      breach, or termination thereof, shall be finally settled by binding
      arbitration, unless otherwise required by law, to be held in Santa
      Barbara, California under the National Rules for the Resolution of
      Employment Disputes of the American Arbitration Association as then in
      effect (the “Rules”). The arbitrator(s) may grant
      injunctions or other relief in such dispute or controversy. The decision
      of the arbitrator(s) shall be final, conclusive and binding on the
      parties to the arbitration, and judgment may be entered on the decision
      of the arbitrator(s) in any court having jurisdiction.
    

    
      (b)       The arbitrator(s) shall apply California law to the merits of
      any dispute or claim, without reference to rules of conflicts of law.
    

    
      (c)       The parties may apply to any court of competent jurisdiction
      for a temporary restraining order, preliminary injunction, or other
      interim or conservatory relief, as necessary, without breach of this
      arbitration agreement and without abridgement of the powers of the
      arbitrator.
    

    
      
        

        

      

      
        
          10
        

        
          

        

      

      
        

        

      

    

    
      (d)       EMPLOYEE HAS READ AND UNDERSTANDS THIS SECTION, WHICH
      DISCUSSES ARBITRATION. EMPLOYEE UNDERSTANDS THAT BY SIGNING THIS
      AGREEMENT, EMPLOYEE AGREES TO SUBMIT ANY CLAIMS ARISING OUT OF, RELATING
      TO, OR IN CONNECTION WITH THIS AGREEMENT, OR THE INTERPRETATION,
      VALIDITY, CONSTRUCTION, PERFORMANCE, BREACH OR TERMINATION THEREOF TO
      BINDING ARBITRATION, UNLESS OTHERWISE REQUIRED BY LAW, AND THAT THIS
      ARBITRATION CLAUSE CONSTITUTES A WAIVER OF EMPLOYEE’S RIGHT TO A JURY
      TRIAL AND RELATES TO THE RESOLUTION OF ALL DISPUTES RELATING TO
      EMPLOYEE’S RELATIONSHIP WITH THE COMPANY, INCLUDING BUT NOT LIMITED TO,
      CLAIMS OF HARASSMENT, DISCRIMINATION, WRONGFUL TERMINATION AND ANY
      STATUTORY CLAIMS.
    

    
      [Signature Page Follows]
    

    
      
        

        

      

      
        
          11
        

        
          

        

      

      
        

        

      

    

    
      IN WITNESS WHEREOF, the parties hereto have duly executed this Senior
      Executive Employment Agreement as of the day and year first above
      written.
    

    
    	
           
        	
          COMPANY:
        
	

        	
           
        
	

        	
          DECKERS OUTDOOR CORPORATION
        
	

        	
           
        
	

        	
           
        
	

        	
          
            By: /s/Angel Martinez
          

        
	

        	
          Angel Martinez
        
	

        	
          Chief Executive Officer
        
	

        	
           
        
	

        	
           
        
	

        	
           
        
	

        	
          EXECUTIVE:
        
	

        	
           
        
	

        	
           
        
	

        	
          
            /s/ Thomas A. George
          

        
	

        	
          Thomas A. George
        

    

    

    

    
      
        

        

      

      
        
          12
        

        
          

        

      

      
        

        

      

    

    
      EXHIBIT A
    

    
      GENERAL RELEASE
    

    
      1.        Employee’s employment with Deckers Outdoor Corporation, a
      Delaware corporation (the “Company”) ceased effective
      _______________.  
    

    
      2.        Employee represents and agrees that Employee has received all
      compensation owed to Employee by the Company through Employee’s
      termination date, including all wages, bonuses, commissions, earned but
      unused vacation, reimbursable business expenses, and any other payments,
      benefits, or other compensation of any kind to which Employee was
      entitled from the Company.
    

    
      3.        Employee represents to the Company that Employee is signing
      this General Release (this “Agreement”) voluntarily and
      with a full understanding of and agreement with its terms for the
      purpose of receiving additional pay from the Company as described in the
      Employment Agreement dated ____________ (the “Employment
      Agreement”).
    

    
      4.        In reliance on the Employee’s promises, representations, and
      releases in this Agreement, upon the Company’s receipt of this executed
      General Release, the Company will provide Employee with the payments
      described in the Employment Agreement, less legally required withholding
      and payroll deductions.
    

    
      5.        In exchange for the consideration provided to Employee as set
      forth above, Employee agrees to waive and release all claims, known and
      unknown, which Employee has or might otherwise have had against the
      Company, including all of its former or current officers, directors,
      agents, employees and related entities (hereinafter collectively
      referred to as the “Released Parties”), arising prior to
      the date Employee executes this Agreement, regarding any aspect of
      Employee’s employment, compensation, the cessation of Employee’s
      employment with the Company, the Age Discrimination in Employment Act of
      1967, the Americans with Disabilities Act of 1990, Title VII of the
      Civil Rights Act of 1964, 42 U.S.C. section 1981, the Fair Labor
      Standards Acts, the California Fair Employment and Housing Act,
      California Government Code section 12900, et seq., the
      Unruh Civil Rights Act, California Civil Code section 51, all provisions
      of the California Labor Code; the Employee Retirement Income Security
      Act, 29 U.S.C. section 1001, et seq., all as amended, any
      other federal, state or local law, regulation or ordinance or public
      policy, contract, tort or property law theory, or any other cause of
      action whatsoever that arose on or before the date Employee executes
      this Agreement.
    

    
      6.        It is further understood and agreed that as a condition of
      this Agreement, all rights under Section 1542 of the Civil Code of the
      State of California are expressly waived by Employee.  Such Section
      reads as follows:
    

    
      “A general release does not extend to claims which the creditor does not
      know or suspect to exist in his or her favor at the time of executing
      the release, which if known by him or her must have materially affected
      his or her settlement with the debtor.”
    

    
      
        

        

      

      
        
          1
        

        
          

        

      

      
        

        

      

    

    
      Notwithstanding Section 1542, and for the purpose of implementing a full
      and complete release and discharge of the Released Parties, Employee
      expressly acknowledges that this Agreement is intended to include and
      does include in its effect, without limitation, all claims which
      Employee does not know or suspect to exist in Employee’s favor against
      the Released Parties at the time of execution hereof, and that this
      Agreement expressly contemplates the extinguishment of all such claims.
    

    
      7.        The release in this Agreement includes, but is not limited to,
      claims arising under federal, state or local law for age, race, sex or
      other forms of employment discrimination and retaliation.  In accordance
      with the Older Workers Benefit Protection Act, Employee hereby knowingly
      and voluntarily waives and releases all rights and claims, known or
      unknown, arising under the Age Discrimination in Employment Act of 1967,
      as amended, which he might otherwise have had against the Released
      Parties.  Employee is hereby advised that he should consult with an
      attorney before signing this Agreement and that he has 21 days in which
      to consider and accept this Agreement by signing and returning this
      Agreement to the Company’s President.  In addition, Employee has a
      period of seven days following his execution of this Agreement in which
      he may revoke the Agreement.  If Employee does not advise the Company by
      a writing received by David Bock within such seven day period of the
      Employee’s intent to revoke the Agreement, the Agreement will become
      effective and enforceable upon the expiration of the seven days.
    

    
      8.        This Separation Agreement and General Release shall not be
      construed as an admission by the Company of any improper, wrongful, or
      unlawful actions, or any other wrongdoing against Employee, and the
      Company specifically disclaims any liability to or wrongful acts against
      Employee on the part of itself, its employees and its agent.
    

    
      9.        This Agreement may be modified only by written agreement
      signed by both parties.
    

    
    	
          
            Dated: ________________________
          

        	
          EMPLOYEE:
        
	

        	
           
        
	

        	
          
            ________________________________________________
          

        
	

        	
           
        
	

        	
           
        
	

        	
           
        
	

        	
          COMPANY:
        
	

        	
           
        
	
          
            Dated: ________________________
          

        	
          DECKERS OUTDOOR CORPORATION
        
	

        	
           
        
	

        	
           
        
	

        	
          
            By: _____________________________________________
          

        
	

        	
           
        
	

        	
          
            Name: ____________________________________________
          

        
	

        	
           
        
	

        	
          
            Its: _______________________________________________
          

        

    

    
      

      

      2

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