Steven Madden enters new 3-year employment agreement with President Amelia Newton Varela; salary steps to $875k by 2028

STEVEN MADDEN, LTD.

Term runs Jan 1, 2026 through Dec 31, 2028; base salary: $825k (2026), $850k (2027), $875k (2028).
Restricted stock grant of $1.1M in Jan 2026, vesting 25% annually over four years.
Annual performance bonus tied to EBIT: threshold (90% of plan) = 30% of salary, target (100%) = 50%, max (130%) = 80%.
Car allowance of $1,250/month throughout the term.
Severance without cause: 12 months salary continuation plus prior-year bonus; change of control: 2.5x salary + avg bonus, capped by IRC §280G.

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