UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  February 28, 2008

 

DECKERS OUTDOOR CORPORATION

(Exact name of registrant as specified in its charter)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Item 1.01.                  Entry Into a Material Definitive Agreement.

 

Amendment of Employment Agreements with Senior Executives

 

On February 28, 2008, Deckers Outdoor Corporation (the “Company”) entered into amendments to each of the Senior Executive Employment Agreements (the “Employment Agreements”) previously entered into between the Company and each of the following executive officers of the Company: Angel Martinez, Constance Rishwain, Colin Clark and Peter Worley.  The purpose of these four amendments was to:

 

(1)          extend until December 31, 2009 the term of the executive’s underlying Employment Agreement;

 

(2)          increase from six to twelve the number of monthly severance payments to be made to the executive in the event he or she is terminated by the Company without cause or if he or she terminates their employment for “good reason” (as such term is defined in the Employment Agreement) so that the executive will be entitled in such event to receive an aggregate of one year of severance; and

 

(3)          increase the base salary of the executive, effective January 1, 2008, to the amount set forth in the table below.

 

                The following table sets forth the name, title and new base salary for each executive officer entering into an amendment to his or her Employment Agreement, together with the date of that original agreement.

 

				Base Salary Effective			Original Date of Employment
Name		Title		January 1, 2008			Agreement
Angel R. Martinez		President & Chief Executive Officer		$	750,000		April 11, 2005
Constance X. Rishwain		President of the UGG and Simple Divisions		$	300,000		January 1, 2006
Colin G. Clark		Senior Vice President, International		$	250,000		January 1, 2006
Peter K. Worley		President of the Teva Division		$	250,000		March 20, 2006

 

Each amendment supplements and amends the corresponding executive officer’s Employment Agreement and, except as set forth in the amendment, the Employment Agreement for each executive officer remains in full force and effect.  Each amendment is identical in form except for the name of the executive officer, the date of his or her Employment Agreement and his or her new base salary amount.  The form of amendment is filed as Exhibit 10.1 hereto and is incorporated herein by reference.

 

 

Item 9.01.              Financial Statements and Exhibits.

 

(d)     Exhibits.

 

Exhibit No.		Description
10.1		Form of Amendment dated February 28, 2008 to Senior Executive Employment Agreement with Deckers Outdoor Corporation

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	DECKERS OUTDOOR CORPORATION
Date: March 4, 2008	/s/ Zohar Ziv
	Zohar Ziv
	Chief Operating Officer

 

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