SEC Contract Filing

Filing Date: 2016-03-24

Document Content:
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<TYPE>EX-10.31.1
<SEQUENCE>4
<FILENAME>exhibit10311.htm
<DESCRIPTION>EXHIBIT 10.31.1
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<a name="safe1f07457ab4f38a5cfda012c288652"></a><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EXHIBIT 10.31.1</font></div><div style="line-height:120%;padding-top:4px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">FIRST AMENDMENT TO STANDARD EMPLOYMENT AGREEMENT</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:6px;text-indent:46px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This First Amendment to Standard Employment Agreement ("Amendment") is made effective as of the date signed ("Effective Date") by and between DSW Inc., an Ohio corporation (the "Company") and Carrie McDermott (the "Executive");</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:6px;text-indent:46px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, Company and Executive are parties to a certain Employment Agreement effective December 31, 2007 (the "Employment Agreement");</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:53px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, Company and Executive have agreed to amend certain provisions of the Employment Agreement;</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:6px;text-indent:46px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NOW, THEREFORE, in consideration of the mutual covenants herein contained, and intending to be legally bound hereby, Company and Executive agree that the Agreement is amended as follows:</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:54px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:32px;"><font style="font-family:inherit;font-size:10pt;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Section 5.06 of the Agreement is hereby amended by replacing subsection [4] in its entirety with the following:</font></div></td></tr></table><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:78px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">[4] &#160;&#160;&#160;&#160;Equity Incentive. Subject to the terms of the DSW Inc. 2005 Equity Incentive Plan, the DSW Inc. 2014 Equity Incentive Plan, any future shareholder approved Company equity plan (collectively the "Plans"), and any applicable agreement, the Executive shall have the following rights:</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:150px;text-indent:-22px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">i. For purposes of this Amendment, "Award" means any award granted under any of the Plans.</font></div><div style="line-height:120%;padding-top:1px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:150px;text-indent:-26px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ii. Executive may exercise any outstanding Awards that are vested on the date of Involuntary Termination Without Cause.</font></div><div style="line-height:120%;padding-top:0px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:150px;text-indent:-30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">iii. With respect to Awards that would vest solely upon the passage of time and such vesting date would occur within the 12 month period following the date of Involuntary Termination Without Cause, such Award shall vest and, if applicable, be awarded to Executive as of the date of Involuntary Termination Without Cause.</font></div><div style="line-height:120%;padding-top:1px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:150px;text-indent:-30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">iv. With respect to Awards that would vest upon the satisfaction of a specified requirement, and/or upon satisfaction of the passage of time and satisfa