Document:

Exhibit 10.1

                              EMPLOYMENT AGREEMENT

     Agreement,  dated as of April 17, 2004, by and between Candie's,  Inc. (the
"Company") and David Conn ("Employee") (the "Parties").

     WHEREAS,  the  Company  wishes to hire the  Employee,  for the  position of
Executive Vice  President,  and the Employee has agreed to undertake and perform
the obligations set forth in this Agreement, subject to the terms hereof.

     NOW, THEREFORE, in consideration of the promises,  covenants and agreements
set forth in this Agreement, the parties agree as follows:

     1.  Engagement of Employee;  Duties.  The Company hereby agrees to hire the
Employee,  on an exclusive  basis to perform the services  mutually agreed to by
the Parties  including,  but not limited to,  accountability  for the P&L of the
business,  the oversight of the  advertising,  marketing,  licensing and product
direction  given to  licensees of the Company.  In addition,  Employee  shall be
responsible  for working with senior  management to develop and execute a growth
strategy for the Company.  Employee shall be an officer of the Company and shall
report to the Chief Executive Officer of the Company.

     2. Time.  Employee shall devote  substantially all of his professional time
and best efforts to the business affairs of the Company.

     3. Term. The  Employee's  engagement  shall  commence  effective on May 17,
2004,  (the "Start Date") and shall continue for two years (the "Term"),  unless
terminated for cause for any reason by either Party upon 30 days written notice.
The Company may  terminate the Agreement for cause in the event that Employee is
convicted of a crime of moral  turpitude,  which may  reasonably  be expected to
have an adverse  impact on the company,  Employee's  dishonesty  in his dealings
with  the  Company,  or for the  willful  refusal  of  Employee  to  follow  the
directives of the CEO of the Company.  Employee may terminate  this Agreement in
the  event  his  title,  reporting  relationship  or  job  responsibilities  are
materially or adversely  affected.  In the event the Company elects to terminate
this Agreement for any reason other than that specified  herein,  Employee shall
be entitled to receive his current salary through the remainder of the term.

     4.  Compensation.   As  compensation  to  the  Employee  for  his  services
hereunder, the Company shall pay to the Employee $200,000 for the first year and
$225,000 for the second year,  payable in accordance with the Company's  payroll
practices and procedures in effect.

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     5. Fringe  Benefits.  Employee  shall receive the fringe  benefits given to
other  officers of the Company  including,  but not limited to,  major  medical,
dental,  life insurance,  pension  including any 401 (K) or other profit sharing
plan.  Employee  shall also be added as an insured under the Company's  officers
and  directors  insurance and all other polices which pertain to officers of the
Company.

     6. Bonus.  The Employee  shall be eligible to  participate in the executive
bonus program then in effect.  He shall be eligible for a bonus of up to 100% of
his  salary,  but shall  receive a bonus of not less than  $25,000 on May 1st of
each year of his employment.  The performance  criteria shall be similar to that
of the Chief Executive Officer of the Company.

     7.  Options.  The  Employee  shall be granted  options to purchase  200,000
shares  of the  Company's  stock at the price of the stock on or about the Start
Date,  which shall vest upon the  Employee's  continued  employment  as follows:
75,000 on the Start Date, 50,000 on the first anniversary thereof, and 75,000 on
the second anniversary thereof.

     8. Vacation. The Employee shall be entitled to take three weeks of vacation
during the first year that he is employed and shall be entitled to four weeks of
vacation  during his  second  year of  employment.  The  Employee  shall use his
vacation in the calendar year in which it is accrued.

     9. Change of Control.  In the event that there comes a time during the Term
hereof that Neil Cole is not either (i) employed as an executive  officer of the
Company or; (ii) a member of the Company's Board of Directors, then the Employee
shall be entitled to receive his current  salary  through the  remainder  of the
Term.

     10.  Confidentiality.  The  Employee  shall not  divulge to anyone,  either
during or at any time  after  the Term,  any  information  constituting  a trade
secret or other confidential  information acquired by it concerning the Company,
any subsidiary or other  affiliate of the Company,  except in the performance of
his duties  hereunder,  including  but not limited to its  licensees,  revenues,
business  systems  and  processes  ("Confidential  Information").  The  Employee
acknowledges that any Confidential Information is of great value to the Company,
and upon the  termination of its engagement the Employee shall  redeliver to the
Company all Confidential Information and other data in his possession.

     12. Entire  Agreement.  This Agreement  represents and expresses the entire
understanding  and  agreement  between the parties  with  respect to the subject
matter  hereof and may not be modified or  terminated  except by an agreement in
writing signed by both of the parties hereto.

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     13.  Governing Law;  Submissions to  Jurisdiction.  This Agreement shall be
deemed to be a contract made under the laws of the State of New York and for all
purposes  shall be  construed  in  accordance  with those laws.  The Company and
Employee  unconditionally consent to submit to the exclusive jurisdiction of the
New York State Supreme Court,  County of New York or the United States  District
Court for Southern  District of New York for any actions,  suits or  proceedings
arising  out of or relating  to this  letter and the  transactions  contemplated
hereby  (and agree not to  commence  any  action,  suit or  proceeding  relating
thereto  except in such courts),  and further agree that service of any process,
summons,  notice or document by  registered  mail to the address set forth above
shall be effective service of process for any action, suit or proceeding brought
against the Company or the Employee,  as the case may be, in any such court.  IN
WITNESS  WHEREOF,  the parties  hereto have set their hands as of the date first
written above.

                                   CANDIE'S, INC.

                                              By: /s/Deborah Sorell Stehr
                                                  ------------------------------
                                            Name: Deborah Sorell Stehr
                                           Title: Senior VP, GC and Secretary

                                                  /s/ David Conn
                                                  ------------------------------
                                                  David Conn, Employee

                                       3Exhibit 10.2
                                 CANDIE'S, INC.
                      NON-QUALIFIED STOCK OPTION AGREEMENT

CANDIE'S,  INC.,  a  Delaware  corporation  (the  "Company"),  pursuant  to  the
Company's 2002 Stock Option Plan (the "Plan") hereby grants to Robert D'Loren, a
member of the Board of Directors (the "Board") of the Company (the  "Optionee"),
as of August 25,  2004 (the  "Grant  Date"),  a  non-qualified  stock  option to
purchase a total of 100,000  shares of the  Company's  common  stock,  par value
$.001 per share ("Common  Stock"),  at the price of $2.67 per share on the terms
and conditions  set forth herein and in the Plan.  This option (the "Option") is
intended to be a non-qualified  stock option,  i.e., this option is not intended
to be, nor is it, an  incentive  stock  option as defined in Section  422 of the
Internal Revenue Code of 1986, as amended (the "Code").

1. Duration.

(a)  This Option was granted as of the Grant Date.

(b)  This option shall expire at the close of business on August 25, 2014,  (the
     "Termination  Date"),  but  shall be  subject  to  earlier  termination  as
     provided herein or in the Plan.

(c)  If the  Optionee  ceases to be a member of the Board for any  reason  other
     than death, disability,  termination for cause, or voluntary termination by
     resignation,  the Option may be exercised within three (3) months after the
     date the  Optionee  ceases to be a member,  or  otherwise  employed  by the
     Company, within ten (10) years from the Grant Date of the Option, whichever
     is earlier, but may not be exercised thereafter.  In such event, the Option
     shall be exercisable  only to the extent that the right to purchase  shares
     of Common  Stock under the Plan has accrued and is in effect at the date of
     such cessation of employment.

     In the event the Optionee's  relationship with the Company is terminated by
the Company for "cause" (as defined in the Plan), or by voluntary resignation by
the Optionee,  the Optionee's right to exercise any unexercised  portion of this
Option shall cease forthwith, and this Option shall thereupon terminate.

     In the event of  disability  of the  Optionee (as  determined  by the other
members of the Board of Directors of the Company (the "Board") or an appropriate
committee of the Board, as the case may be, and as to the fact and date of which
the Optionee is notified by the Board or that Committee,  as the case may be, in
writing),  the Option shall be exercisable within one (1) year after the date of
such  disability  or,  if  earlier,  the  term  originally  prescribed  by  this
Agreement. In such event, the Option shall be exercisable to the extent that the
right to purchase the shares of Common Stock  hereunder  has accrued on the date
the Optionee becomes disabled and is in effect as of such determination date.

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     In the  event of the death of the  Optionee  while a member of the Board or
employee of the Company or within three (3) months after the termination of such
relationship  (other than termination for cause or voluntary  termination by the
Optionee),  the Option shall be  exercisable to the extent  exercisable  but not
exercised  as of the  date  of  death  and in such  event,  the  Option  must be
exercised,  if at all,  within  one (1)  year  after  the  date of  death of the
Optionee or, if earlier, within the originally prescribed term of the Option.

2. Price.

     The  purchase  price for each share of Common  Stock upon  exercise of this
option is $2.67.

3. Non-Qualified Stock Option.

     These options are  non-qualified  stock  options,  the exercise of which is
subject to Section 83 of the Code.

4. Written Notice of Exercise.

     This  option,  to the extent it is  exercisable  as  provided in Section 10
herein,  may be exercised  only by delivering  to the Company,  at its principal
office  within the time  specified  in  Paragraph 1 or such  shorter  time as is
otherwise  provided  for  herein or in the Plan,  a written  notice of  exercise
substantially  in  the  form  described  in  Section  10.  The  Optionee  hereby
acknowledges receipt of a copy of the Plan.

5. Anti-Dilution Provisions.

(a)  If there is any stock  dividend or  recapitalization  resulting  in a stock
     split, or combination or exchange of shares of Common Stock of the Company,
     the  number of shares of Common  Stock then  subject to this  option may be
     proportionately  and  appropriately  adjusted  by the  Board of  Directors;
     provided,  however,  that any  fractional  shares  resulting  from any such
     adjustment shall be eliminated.

(b)  If there is any other change in the Common Stock of the Company,  including
     capitalization,  reorganization,  sale or exchange  of assets,  exchange of
     shares,  offering of subscription  rights,  or a merger or consolidation in
     which the Company is the  surviving  corporation,  an  adjustment,  if any,
     shall be made in the shares  then  subject to this option as the s Board in
     its sole discretion may deem  appropriate.  Failure of the Board to provide
     for an adjustment pursuant to this subparagraph prior to the effective date
     of any Company action referred to herein shall be conclusive  evidence that
     no adjustment  has been approved by the Board in consequence of such action
     and that no such adjustment will be made in consequence of such action.

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6.   Investment Representation .

     The Optionee agrees that until such time as a registration  statement under
the  Securities  Act of 1933,  as amended (the "Act"),  becomes  effective  with
respect to this option and/or the shares of Common Stock underlying this option,
the  Optionee is taking  this  option and shall take the shares of Common  Stock
underlying this option,  for the Optionees own account,  for investment,  or not
for resale or distribution.

7.       Transferability.

     This Option may be transferable by the Optionee.

8. Certain Rights Not Conferred by Option.

     The Optionee  shall not, by virtue of holding  this option,  be entitled to
any rights of a stockholder in the Company.

9. Transfer Taxes.

     The Company shall pay all original issue and transfer taxes with respect to
the  issuance  and  transfer of shares of Common  Stock of the Company  pursuant
hereto provided that the shares are issued in the name of the Optionee.

10. Vesting Options.

(a)  The  amount  of  shares  of  Common  Stock  to  this  option  shall  become
     exercisable as follows:  40,000 on the date hereof,  30,000 on the one year
     anniversary hereof, and 30,000 on the second anniversary  thereof,  subject
     to the provisions of Section 11 hereof.

(b)  An Option shall be exercisable  by written notice of such exercise,  in the
     form  prescribed by the Board to the Company,  at its  principal  executive
     office.  The notice shall specify the number of shares for which the option
     is being  exercised,  be signed by the Optionee and shall be accompanied by
     payment  in cash or by check of the  amount of the full  purchase  price of
     such shares or in such manner as the Board shall deem acceptable consistent
     with the provisions of the Plan.

(c)  No shares  shall be delivered  upon  exercise of any option until all laws,
     rules  and  regulations  which  the  Board  may deem  applicable  have been
     complied  with. If a  registration  statement  under the Act is not then in
     effect with respect to the shares issuable upon such exercise,  the Company
     may require as a  condition  precedent.,  among  other  things (i) that the
     person  exercising the option give to the Company a written  representation
     and  undertaking,  satisfactory in form and substance to the Company,  that
     such person is acquiring the shares for his own account for  investment and
     not with a view to the  distribution  thereof  and/or  (ii) an  opinion  of
     counsel  satisfactory  to the Company with  respect to the  existence of an
     exemption from the registration requirements of the Act, in which event the
     person(s)  acquiring  the Common Stock shall be bound by the  provisions of
     the  following  legend  which  shall be  endorsed  upon the  certificate(s)
     evidencing his option shares issued pursuant to such exercise:

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               "The  shares  represented  by  this  certificate  have  not  been
               registered  under the  Securities  Act of 1933,  as amended  (the
               "Act").  Such shares may not be sold,  transferred  or  otherwise
               disposed of unless they have first been registered  under the Act
               or,  unless,  in  the  opinion  of  counsel  satisfactory  to the
               Company's counsel, such registration is not required."

(d)  Without  limiting the  generality of the  foregoing,  the Company may delay
     issuance  of the  shares of  Common  Stock  underlying  this  option  until
     completion  of any action or obtaining  of any  consent,  which the Company
     deems  necessary  under any applicable law  (including  without  limitation
     state securities or "blue sky" laws).

(e)  The person  exercising an option shall not be considered a record holder of
     the stock so purchased  for any purpose until the date on which such person
     is  actually  recorded  as the holder of such  stock in the  records of the
     Company.

11. No Continued Relationship.

     Nothing herein shall be deemed to create any guaranty of continued  service
or  limit  in any way  any  right  that  the  Company's  may  have to  terminate
Optionee's status at any time.

12. Notices.

     Any notice  required or permitted by the terms of this option  agreement or
the Plan  shall be  given  by  registered  or  certified  mail,  return  receipt
requested, addressed as follows:

                  To the Company:

                                    Candies, Inc.
                                    215 W. 40th Street, 6th floor
                                    New York, N.Y. 10018

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                  To the Optionee:

                                    Robert D'Loren
                                    c/o UCC Capital Corp
                                    1330 Avenue of the Americas
                                    40th Floor
                                    New York, NY 10019

or to such other  address or  addresses  of which  notice in the same manner has
previously been given when mailed in accordance  with the foregoing  provisions.
Either party hereto may change the address to which such notices  shall be given
by providing the other party hereto with written notice of such change.

13.      Tax Withholding.

     Not later than the date as of which an amount first  becomes  includable in
the gross income of the Optionee or other holder for federal income tax purposes
with  respect to this  option,  the  Optionee or other  holder  shall pay to the
Company, or make arrangements  satisfactory to the Company regarding the payment
of,  any  federal,  state  and  local  taxes of any kind  required  by law to be
withheld or paid with respect to such  amount.  The  obligations  of the Company
under this Agreement shall be conditional  upon such payment or arrangements and
the Company shall, to the extent  permitted by law, have the right to deduct any
such  taxes  from any  payment  of any kind  otherwise  due to the holder of the
option from the Company or any of its subsidiaries.

14. Benefit of Agreement.

     This  Agreement  shall be for the benefit of and shall be binding  upon the
heirs, executors, administrators and successors of the parties hereto.

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15. Governing Law.

     This option  agreement  shall be construed and enforced in accordance  with
the law of the State of New  York,  except  to the  extent  that the laws of the
State of Delaware may be applicable.

                                         CANDIE'S,  INC.

                                     By: /s/ Deborah Sorell Stehr
                                        ----------------------------------------
                                   Name: Deborah Sorell Stehr
                                  Title: Senior Vice President, General Conselor

Accepted as of the date first set above.

/s/ Robert D'Loren
-------------------------------
Signature required with return
of document to the Company to
formalize issuance of agreement.

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