EX-10.29 2 ex10_29.txt EXHIBIT 10.29 Exhibit 10.29 AMELIA VARELLA EMPLOYMENT AGREEMENT STEVE MADDEN - WHOLESALE WOMENS DIVISION -------------------------------------------------------------------------------- TITLE Executive Vice President (of SML) -Wholesale Sales -------------------------------------------------------------------------------- TERM EFFECTIVE 10/1/2004 -------------------------------------------------------------------------------- BASE SALARY $300,000 10/01/2004 -------------------------------------------------------------------------------- BONUS Within ninety days following the end of each calendar year beginning December 31st, 2004 and every calendar year thereafter, the Company shall pay Exec. An annual cash bonus equal to 2% of the increase in the Company's wholesale divisions' EBIT of the fiscal year over the Company's wholesale divisions' EBIT of prior fiscal year. -------------------------------------------------------------------------------- CASH COMPENSATION If Executive still employed by company by 12/31/07, then she will be entitled to a cash compensation of $225,000 (75% of one year salary or 25% per year of contract) less any applicable taxes by law. -------------------------------------------------------------------------------- CAR ALLOWANCE & INSURANCE MONTHLY CAR AND INS. ALLOWANCE $1,250.00 -------------------------------------------------------------------------------- Convenant Not to Compete The Executive recognizes that the service to be performed by it hereunder is special and unique. In consideration of the compensation granted herein, Executive agrees that, in the event it either terminates this agreement of its own accord (without good cause) or it is terminated by the Company for cause prior to the expiration of this agreement, for a period of 12 months following such termination, Executive shall not engage in or accept employment with any competitive business for its special and unique services. If Executive terminates its relationship with the Company prior to the expiration of the term, She agrees to forfeit and surrender any unpaid compensation without further liability to the Company. -------------------------------------------------------------------------------- /s/ AMELIA NEWTON ----------------------- Amelia Newton /s/ JAMIE KARSON ------------------------------ Jamie Karson, C.E.O /s/ ARVIND DHARIA ------------------------------ Arvind Dharia, C.F.O