<SEC-DOCUMENT>0001019056-13-000437.txt : 20130325
<SEC-HEADER>0001019056-13-000437.hdr.sgml : 20130325
<ACCEPTANCE-DATETIME>20130325172454
ACCESSION NUMBER:		0001019056-13-000437
CONFORMED SUBMISSION TYPE:	PRE 14A
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20130325
FILED AS OF DATE:		20130325
DATE AS OF CHANGE:		20130325

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STEVEN MADDEN, LTD.
		CENTRAL INDEX KEY:			0000913241
		STANDARD INDUSTRIAL CLASSIFICATION:	FOOTWEAR, (NO RUBBER) [3140]
		IRS NUMBER:				133588231
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PRE 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23702
		FILM NUMBER:		13714856

	BUSINESS ADDRESS:	
		STREET 1:		52-16 BARNETT AVE
		CITY:			LONG ISLAND CITY
		STATE:			NY
		ZIP:			11104
		BUSINESS PHONE:		7184461800

	MAIL ADDRESS:	
		STREET 1:		52-16 BARNETT AVENUE
		CITY:			LONG ISLAND CITY
		STATE:			NY
		ZIP:			11104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MADDEN STEVEN LTD
		DATE OF NAME CHANGE:	19931008
</SEC-HEADER>
<DOCUMENT>
<TYPE>PRE 14A
<SEQUENCE>1
<FILENAME>stevemadden_pre14a.htm
<DESCRIPTION>PRELIMINARY 14A
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>





<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>UNITED STATES
</B></FONT><BR>
<FONT STYLE="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT><B> </B><BR>
<FONT STYLE="font-size: 12pt"><B>WASHINGTON, D.C. 20549<BR>
</B></FONT><B><FONT STYLE="font-size: 18pt">SCHEDULE 14A </FONT></B><BR>
<FONT STYLE="font-size: 12pt"><B>(RULE 14A-101)</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>INFORMATION
REQUIRED IN PROXY STATEMENT<BR>
SCHEDULE 14A INFORMATION</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>PROXY
STATEMENT PURSUANT TO SECTION 14(A) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. __)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0">Filed by the Registrant <FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0">Filed by a Party other than the Registrant <FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0">Check the appropriate box:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 92%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Wingdings">x</FONT></TD>
    <TD>Preliminary Proxy Statement</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Wingdings">o</FONT></TD>
    <TD>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Wingdings">o</FONT></TD>
    <TD>Definitive Proxy Statement</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Wingdings">o</FONT></TD>
    <TD>Definitive Additional Materials</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Wingdings">o</FONT></TD>
    <TD>Soliciting Material Pursuant to &sect;240.14a-12</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: center"><FONT STYLE="font-size: 24pt"><B>Steven
Madden, Ltd.</B></FONT><BR>
(Name of Registrant as Specified in Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: center">(Name of Person(s) Filing Proxy Statement,
if Other Than the Registrant)</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 87%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4">Payment of Filing Fee (Check the appropriate box):</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Wingdings">x</FONT></TD>
    <TD COLSPAN="2">No fee required.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Wingdings">o</FONT></TD>
    <TD COLSPAN="2">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>(1)</TD>
    <TD>Title of each class of securities to which transaction applies:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>(2)</TD>
    <TD>Aggregate number of securities to which transaction applies:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>(3)</TD>
    <TD>Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined):</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>(4)</TD>
    <TD>Proposed maximum aggregate value of transaction:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>(5)</TD>
    <TD>Total fee paid:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;Fee paid previously with preliminary materials. </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. </TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>(1)</TD>
    <TD>Amount Previously Paid:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>(2)</TD>
    <TD>Form, Schedule or Registration Statement No.:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>(3)</TD>
    <TD>Filing Party:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>(4)</TD>
    <TD>Date Filed:</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0; text-align: center"><B>PRELIMINARY COPY &ndash;
SUBJECT TO COMPLETION</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><B>STEVEN MADDEN, LTD.<BR> 52-16 Barnett Avenue <BR> Long Island City, New York 11104</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><B>NOTICE OF ANNUAL MEETING OF STOCKHOLDERS <BR> TO BE HELD ON MAY 24, 2013</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">TO THE STOCKHOLDERS OF STEVEN MADDEN, LTD.:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-indent: 0.5in">NOTICE IS HEREBY GIVEN that the Annual
Meeting of Stockholders (the &ldquo;Annual Meeting&rdquo;) of Steven Madden, Ltd. (the &ldquo;Company&rdquo;) will be held on
May 24, 2013, at the Company&rsquo;s showroom located at 1370 Avenue of the Americas, 14th Floor, New York, New York at 10:00
a.m., local time, for the purposes stated below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">1.</TD><TD>to elect six directors to the Board of Directors of
the Company to serve until the next annual meeting of the Company&rsquo;s stockholders and until their successors are duly elected
and qualified or until their earlier death, resignation or removal from office;</TD>
</TR></TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">2.</TD><TD>to approve an amendment to the Company&rsquo;s Certificate
of Incorporation to increase the total number of authorized shares of the Company&rsquo;s common stock, $0.0001 par value, from
60,000,000 shares to 135,000,000 shares;</TD>
</TR></TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">3.</TD><TD>to ratify the appointment of EisnerAmper LLP as the
Company&rsquo;s independent registered public accounting firm for the fiscal year ending December 31, 2013;</TD>
</TR></TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">4.</TD><TD>to approve, on a non-binding advisory basis, the compensation
of certain executive officers as disclosed in the accompanying proxy statement; and</TD>
</TR></TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">5.</TD><TD>to transact such other business as may properly come
before the Annual Meeting or any adjournments thereof.</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-indent: 0.5in">Only those stockholders of record at the
close of business on April 3, 2013 are entitled to notice of and to vote at the Annual Meeting and any adjournments thereof. A
complete list of stockholders entitled to vote at the Annual Meeting will be available for ten days prior to the Annual Meeting
for purposes germane to the Annual Meeting, between the hours of 9:00 a.m. and 4:30 p.m., local time, at the Company&rsquo;s principal
executive offices at 52-16 Barnett Avenue, Long Island City, New York 11104, by contacting the Secretary of the Company, and will
be available at the Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0"><B>IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS
FOR THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON MAY 24, 2013: THE NOTICE OF ANNUAL MEETING AND PROXY STATEMENT, ANNUAL REPORT,
ELECTRONIC PROXY CARD AND ANY OTHER MATERIALS CONCERNING THE ANNUAL MEETING, TOGETHER WITH ANY AMENDMENTS TO ANY OF THESE MATERIALS,
ARE AVAILABLE ON THE INTERNET AT WWW.PROXYVOTE.COM. </B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>BY ORDER OF THE BOARD OF DIRECTORS</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>April [10], 2012</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Long Island City, New York</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Arvind Dharia</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Secretary</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0">WHETHER OR NOT YOU EXPECT TO BE PRESENT AT THE ANNUAL MEETING,
PLEASE MARK, DATE AND SIGN THE ACCOMPANYING FORM OF PROXY AND MAIL IT PROMPTLY IN THE ENVELOPE PROVIDED TO: VOTE PROCESSING, C/O
BROADRIDGE, 51 MERCEDES WAY, EDGEWOOD, NEW YORK 11717. ALTERNATIVELY, YOU MAY VOTE YOUR SHARES BY TELEPHONE OR THROUGH THE INTERNET
AS DESCRIBED ON THE ACCOMPANYING PROXY CARD.</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-bottom: 0"><B><U>TABLE OF CONTENTS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top; width: 90%"><A HREF="#smpa001_v1">GENERAL INFORMATION</A></TD>
    <TD STYLE="vertical-align: top; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%; text-align: right">1</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-left: 17.3pt; text-indent: -8.65pt"><A HREF="#smpa002_v1">Notice of Internet Availability of Proxy Materials</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-left: 17.3pt; text-indent: -8.65pt"><A HREF="#smpa003_v1">QUESTIONS AND ANSWERS ABOUT THE ANNUAL MEETING</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-left: 8.65pt"><A HREF="#smpa004_v1">STOCKHOLDER NOMINATIONS FOR BOARD MEMBERSHIP, PROPOSALS AND SUBMISSIONS FOR THE COMPANY&rsquo;S 2014 ANNUAL MEETING</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><A HREF="#smpa005_v1">PROPOSAL ONE: ELECTION OF DIRECTORS</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">6</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-left: 17.3pt; text-indent: -8.65pt"><A HREF="#smpa006_v1">Biographical Summaries of Nominees for the Board of Directors</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">6</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><A HREF="#smpa007_v1">CORPORATE GOVERNANCE</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-left: 8.65pt"><A HREF="#smpa008_v1">The Board of Directors</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-left: 8.65pt"><A HREF="#smpa009_v1">Director Independence</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-left: 8.65pt"><A HREF="#smpa010_v1">Director Attendance at Meetings</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-left: 8.65pt"><A HREF="#smpa011_v1">Director Election (Majority Voting) Policy</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-left: 8.65pt"><A HREF="#smpa012_v1">Committees of the Board</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">10</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-left: 8.65pt"><A HREF="#smpa013_v1">Board Leadership Structure, Risk Oversight, Executive Sessions of Non-Employee Directors, and Communications Between Stockholders and the Board</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">12</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-left: 8.65pt"><A HREF="#smpa014_v1">Code of Business Conduct and Ethics</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">14</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-left: 8.65pt"><A HREF="#smpa015_v1">Certain Relationships and Related Party Transactions</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">14</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-left: 8.65pt"><A HREF="#smpa016_v1">Review, Approval or Ratification of Transactions with Related Persons</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">16</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><A HREF="#smpa017_v1">COMPENSATION OF DIRECTORS IN THE 2012 FISCAL YEAR</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">17</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><A HREF="#smpa018_v1">STOCK OWNERSHIP</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">18</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-left: 8.65pt"><A HREF="#smpa019_v1">Security Ownership of Certain Beneficial Owners</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">18</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-left: 8.65pt"><A HREF="#smpa020_v1">Security Ownership of Directors and Executive Officers</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">19</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-left: 8.65pt"><A HREF="#smpa021_v1">Section 16(a) Beneficial Ownership Reporting Compliance</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">20</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><A HREF="#smpa022_v1">EXECUTIVE COMPENSATION</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">21</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 8.65pt"><A HREF="#smpa023_v1">Compensation Discussion and Analysis</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">21</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 8.65pt"><A HREF="#smpa024_v1">Compensation Committee Interlocks and Insider Participation</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">28</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 8.65pt"><A HREF="#smpa025_v1">Executive Officers</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">28</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><A HREF="#smpa026_v1">SUMMARY COMPENSATION TABLE</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">29</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 8.65pt"><A HREF="#smpa027_v1">Employment Arrangements</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">30</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><A HREF="#smpa028_v1">GRANTS OF PLAN-BASED AWARDS IN THE 2012 FISCAL YEAR</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">35</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><A HREF="#smpa029_v1">OUTSTANDING EQUITY AWARDS AT END OF THE 2012 FISCAL YEAR</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">37</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><A HREF="#smpa030_v1">OPTION EXERCISES AND STOCK VESTED IN THE 2012 FISCAL YEAR</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">38</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><A HREF="#smpa031_v1">SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">39</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><A HREF="#smpa032_v1">EQUITY COMPENSATION PLAN INFORMATION</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">39</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><A HREF="#smpa033_v1">POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE-IN-CONTROL</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">40</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><A HREF="#smpa034_v1">COMPENSATION COMMITTEE REPORT</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">42</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><A HREF="#smpa035_v1">PROPOSAL TWO: AMENDMENT OF CERTIFICATE OF INCORPORATION TO INCREASE AUTHORIZED SHARES</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">42</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><A HREF="#smpa036_v1">PROPOSAL THREE: RATIFICATION OF THE APPOINTMENT OF EISNERAMPER LLP AS THE COMPANY&rsquo;S INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2013</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">44</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><A HREF="#smpa037_v1">AUDIT COMMITTEE REPORT</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">47</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><A HREF="#smpa038_v1">PROPOSAL FOUR: NON-BINDING ADVISORY VOTE ON EXECUTIVE COMPENSATION</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">48</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 3; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->i<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;PRELIMINARY
COPY &ndash; SUBJECT TO COMPLETION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>STEVEN
MADDEN, LTD.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>52-16
Barnett Avenue</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Long
Island City, New York 11104</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>PROXY
STATEMENT</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa001_v1"></A>GENERAL INFORMATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">On
behalf of the Board of Directors of Steven Madden, Ltd., a Delaware corporation (the &ldquo;Company&rdquo;, &ldquo;we&rdquo; or
&ldquo;us&rdquo;), we are requesting your proxy in connection with the Annual Meeting of Stockholders (the &ldquo;Annual Meeting&rdquo;)
scheduled to be held at the Company&rsquo;s showroom located at 1370 Avenue of the Americas, 14th Floor, New York, New York on
Friday, May 24, 2013 at 10:00 a.m., local time. On or about April [11], 2013, a notice containing instructions on how to access
this Proxy Statement, the accompanying proxy card and related materials online is being mailed to holders of record of common
stock, $.0001 par value, of the Company (the &ldquo;Common Stock&rdquo;) at the close of business on April 3, 2013 (the &ldquo;Record
Date&rdquo;). The Company&rsquo;s Annual Report for the fiscal year ended December 31, 2012 (&ldquo;2012 Fiscal Year&rdquo;),
including audited financial statements, is included in the materials that are accessible online to our stockholders. This Proxy
Statement contains information about the Annual Meeting as well as information regarding the voting process, director elections,
our corporate governance programs and executive and director compensation, among other things. We recommend that you read all
of these materials.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Annual Meeting has been called to consider and take action on the following proposals:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
                                                                                                                                   elect
                                                                                                                                   six
                                                                                                                                   directors
                                                                                                                                   to
                                                                                                                                   the
                                                                                                                                   Board
                                                                                                                                   of
                                                                                                                                   Directors
                                                                                                                                   of
                                                                                                                                   the
                                                                                                                                   Company
                                                                                                                                   to
                                                                                                                                   serve
                                                                                                                                   until
                                                                                                                                   the
                                                                                                                                   next
                                                                                                                                   annual
                                                                                                                                   meeting
                                                                                                                                   of
                                                                                                                                   the
                                                                                                                                   Company&#8217;s
                                                                                                                                   stockholders
                                                                                                                                   and
                                                                                                                                   until
                                                                                                                                   their
                                                                                                                                   successors
                                                                                                                                   are
                                                                                                                                   duly
                                                                                                                                   elected
                                                                                                                                   and
                                                                                                                                   qualified
                                                                                                                                   or
                                                                                                                                   until
                                                                                                                                   their
                                                                                                                                   earlier
                                                                                                                                   death,
                                                                                                                                   resignation
                                                                                                                                   or
                                                                                                                                   removal
                                                                                                                                   from
                                                                                                                                   office;</FONT></TD></TR>                                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
                                                                                                                                   amend
                                                                                                                                   the
                                                                                                                                   Company&#8217;s
                                                                                                                                   Certificate
                                                                                                                                   of
                                                                                                                                   Incorporation
                                                                                                                                   to
                                                                                                                                   increase
                                                                                                                                   the
                                                                                                                                   total
                                                                                                                                   number
                                                                                                                                   of
                                                                                                                                   shares
                                                                                                                                   of
                                                                                                                                   Common
                                                                                                                                   Stock
                                                                                                                                   that
                                                                                                                                   the
                                                                                                                                   Company
                                                                                                                                   is
                                                                                                                                   authorized
                                                                                                                                   to
                                                                                                                                   issue
                                                                                                                                   from
                                                                                                                                   60,000,000
                                                                                                                                   shares
                                                                                                                                   to
                                                                                                                                   135,000,000
                                                                                                                                   shares;</FONT></TD></TR>                                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
                                                                                                                                   ratify
                                                                                                                                   the
                                                                                                                                   appointment
                                                                                                                                   of
                                                                                                                                   EisnerAmper
                                                                                                                                   LLP
                                                                                                                                   as
                                                                                                                                   the
                                                                                                                                   Company&#8217;s
                                                                                                                                   independent
                                                                                                                                   registered
                                                                                                                                   public
                                                                                                                                   accounting
                                                                                                                                   firm
                                                                                                                                   for
                                                                                                                                   the
                                                                                                                                   fiscal
                                                                                                                                   year
                                                                                                                                   ending
                                                                                                                                   December
                                                                                                                                   31,
                                                                                                                                   2013;</FONT></TD></TR>                                                                                                                                                         <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
                                                                                                                                   approve,
                                                                                                                                   on
                                                                                                                                   a
                                                                                                                                   non-binding
                                                                                                                                   advisory
                                                                                                                                   basis,
                                                                                                                                   the
                                                                                                                                   compensation
                                                                                                                                   of
                                                                                                                                   certain
                                                                                                                                   executive
                                                                                                                                   officers
                                                                                                                                   as
                                                                                                                                   disclosed
                                                                                                                                   in
                                                                                                                                   this
                                                                                                                                   Proxy
                                                                                                                                   Statement;
                                                                                                                                   and</FONT></TD></TR>                                                                                                                                                       <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt;"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">to
                                                                                                                                   transact
                                                                                                                                   such
                                                                                                                                   other
                                                                                                                                   business
                                                                                                                                   as
                                                                                                                                   may
                                                                                                                                   properly
                                                                                                                                   come
                                                                                                                                   before
                                                                                                                                   the
                                                                                                                                   Annual
                                                                                                                                   Meeting
                                                                                                                                   and
                                                                                                                                   any
                                                                                                                                   adjournments
                                                                                                                                   thereof.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Board of Directors knows of no other matters to be presented for action at the Annual Meeting. However, if any other matters properly
come before the Annual Meeting, the persons named in the proxy will vote on such other matters and/or for other nominees in accordance
with their best judgment. The Company&rsquo;s Board of Directors recommends that the stockholders vote &ldquo;FOR&rdquo; each
of the proposals. Only holders of record of Common Stock of the Company at the close of business on the Record Date will be entitled
to vote at the Annual Meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
principal executive offices of the Company are located at 52-16 Barnett Avenue, Long Island City, New York 11104 and the telephone
number of the Company is (718) 446-1800.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa002_v1"></A>Notice of Internet Availability of Proxy Materials</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
continue to take advantage of the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) &ldquo;e-proxy&rdquo; rules allowing
us to furnish proxy materials through the Internet for the benefit and convenience of our stockholders. By using the e-proxy rules,
we can expedite the receipt by stockholders of this Proxy Statement and our Annual Report while lowering the costs and reducing
the environmental impact associated with our Annual Meeting. On or about April [11], 2013, we will furnish a Notice of Internet
Availability of Proxy Material (the &ldquo;Availability Notice&rdquo;) to most of our stockholders containing instructions on
how to access the proxy materials and to vote online. In addition, our instructions on how to request a printed copy of these
materials will be found on the Availability Notice. For more information on voting your Common Stock, please see the &ldquo;Questions
and Answers&rdquo; section below. If you received an Availability Notice by mail, you will not receive a paper copy of the proxy
materials unless you request such materials by following the instructions contained in the Availability Notice.</FONT></P>

<!-- Field: Page; Sequence: 4; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa003_v1"></A>QUESTIONS AND ANSWERS ABOUT THE ANNUAL MEETING</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Who
may vote at the Annual Meeting?</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Only
stockholders of record are entitled to vote at the Annual Meeting. A stockholder of record is a stockholder as of the close of
business on the <FONT STYLE="color: black">Record Date. On the Record Date, there were [46,475,175] shares of our Common Stock
outstanding (excluding treasury shares) held by approximately [113] registered holders of record and [31,173] beneficial owners.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>What
is considered a quorum to conduct the Annual Meeting?</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
presence, in person or by proxy, of the holders of a majority of the shares eligible to vote is necessary to constitute a quorum
for the purpose of transacting business at the Annual Meeting. Under Delaware law (under which the Company is incorporated), abstentions
and broker non-votes (meaning proxies from brokers or nominees indicating that such persons have not received instructions on
how to vote from the beneficial owner or other persons eligible to vote shares as to matters with respect to which the brokers
or nominees do not have discretionary power to vote) are counted as present for purposes of determining the presence or absence
of a quorum for the transaction of business. If a quorum is not present, the Annual Meeting may be adjourned until a quorum is
obtained.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>What
is a &ldquo;broker non-vote&rdquo;?</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
your shares are held in &ldquo;street name&rdquo; by a broker, bank or nominee, your broker, bank or nominee is the record holder;
however, the broker, bank or nominee is required to vote the shares in accordance with your instructions. If you do not give instructions
to your broker, bank or nominee, as the case may be, the broker, bank or nominee may, if permitted by the organizations of which
it is a member, exercise discretionary voting power to vote your shares. A &ldquo;broker non-vote&rdquo; occurs when a broker,
bank or nominee of record holding shares for a beneficial owner has not received voting instructions from the beneficial owner
and either chooses not to vote the shares on a particular proposal as to which the holder has discretionary voting power or does
not vote on a particular proposal because that holder does not have discretionary voting power for that particular item. Broker
non-votes are considered present in determining whether a quorum is present. <B>If you hold your shares in &ldquo;street name,&rdquo;
we strongly encourage you to provide instructions regarding the voting of your shares as your broker or nominee cannot vote your
shares with respect to certain of the proposals being presented at the Annual Meeting without voting instructions from you.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>How
many votes do I have?</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">For
each share of Common Stock that you own on the Record Date you are entitled to one vote on each matter presented at the Annual
Meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>How
many votes are required to approve each proposal and what is the effect of abstentions and broker non-votes?</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Proposal
One (Election of Directors):</I> Under Delaware law, directors are elected by the affirmative vote of a plurality of the shares
of Common Stock present in person or represented by proxy at the Annual Meeting and entitled to vote. This means that the director
nominees who receive the greatest number of affirmative votes cast are elected as directors, subject to our director resignation
policy discussed in Proposal One below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Proposal
Two (Amendment of Certificate of Incorporation to Increase Authorized Shares): </I> The affirmative vote of a majority of the
shares of Common Stock outstanding and entitled to vote at the Annual Meeting is required to approve the proposal to amend the
Company&rsquo;s Certificate of Incorporation to increase the total number of shares of Common Stock that the Company is authorized
to issue.</FONT></P>

<!-- Field: Page; Sequence: 5; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Proposal
Three (Ratification of Appointment of EisnerAmper LLP): </I> The affirmative vote of a majority of the shares of Common Stock
present in person or represented by proxy at the Annual Meeting and entitled to vote is required to approve the ratification of
the appointment of EisnerAmper LLP as the Company&rsquo;s independent registered public accounting firm for the fiscal year ending
December 31, 2013.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Proposal
Four (Non-Binding Advisory Vote On Executive Compensation): </I> The affirmative vote of a majority of the shares of Common Stock
present in person or represented by proxy at the Annual Meeting and entitled to vote is required to approve, on a non-binding
advisory basis, the compensation of the Company&rsquo;s named executive officers as described in this Proxy Statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Other
Matters: </I>If any other matters are presented at the Annual Meeting, they must receive an affirmative vote of a majority of
the shares of Common Stock present in person or represented by proxy at the Annual Meeting and entitled to vote in order to be
approved.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Abstentions
will have no effect on the election of directors, but will be treated as present and entitled to vote on the remaining proposals
and, therefore, abstentions will have the effect of votes &ldquo;AGAINST&rdquo; such proposals.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Proposal
One (Election of Directors) will be decided by a plurality of the votes of the shares represented in person or by proxy. The approval
of Proposal Two (Amendment of Certificate of Incorporation) requires a favorable vote of a majority of the outstanding shares.
The approval of each of Proposals Three (Ratification of EisnerAmper LLP) and Four (Advisory Vote on Executive Compensation) requires
a favorable vote of a majority of the shares present and entitled to vote on the applicable matter. As noted above, an abstention
will have no effect on the election of directors but will have the same effect as a vote &ldquo;AGAINST&rdquo; each other proposal.
Broker non-votes with respect to Proposals One, Three and Four will have no effect on the outcome of the vote with respect to
that proposal; however, broker non-votes with respect to Proposal Two will have the effect of a vote &ldquo;AGAINST&rdquo; the
proposal.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>How
can I vote my shares?</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Your
vote is important. Your shares can be voted at the Annual Meeting only if you are present in person or represented by proxy. Even
if you plan to attend the Annual Meeting, we urge you to authorize your proxy in advance. You may vote your shares by authorizing
a proxy over the Internet or by telephone. In addition, if you received a paper copy of the proxy materials by mail, you can also
submit a proxy by mail by following the instructions on the proxy card. Voting your shares by authorizing a proxy over the Internet,
by telephone or by written proxy card will ensure your representation at the Annual Meeting regardless of whether you attend in
person.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
you are the record holder of your shares, please authorize your proxy electronically by going to the http://www.proxyvote.com
website or by calling the toll-free number listed below and on the proxy card. Please have your Proxy Statement or proxy card
in hand when going online or calling. If you authorize your proxy via the Internet or by phone you do not need to return your
proxy card. If you choose to authorize your proxy by mail, simply mark your proxy card and then date, sign and return it in the
postage-paid envelope provided.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 31%; border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">VOTE
                                                                                                      BY INTERNET</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">http://www.proxyvote.com</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Use
        the Internet to transmit your voting instructions and for electronic delivery of information.</FONT></P></TD>
    <TD STYLE="width: 29%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">VOTE
                                                                                                                                                                                       BY
                                                                                                                                                                                       PHONE</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1-800-690-6903</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Use
        any touch-tone telephone to transmit your voting instructions.</FONT></P></TD>
    <TD STYLE="width: 40%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">VOTE
                                                                                                                                                                                       BY
                                                                                                                                                                                       MAIL</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Vote
        Processing, c/o Broadridge<BR>
        51 Mercedes Way<BR>
        Edgewood, New York 11717</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
        you receive paper proxy materials, mark, sign and date your proxy card and return it in the postage-paid envelope we have
        provided or return it to the address shown above.</FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
you hold your shares beneficially in &ldquo;street name&rdquo; through a broker or nominee you may be able to authorize your proxy
by telephone or the Internet as well as by mail, but you will need to obtain and follow instructions from your broker or nominee
to vote these shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>May
I revoke my proxy for the Annual Meeting once I have given it?</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">You
may revoke your proxy at any time before it is voted at the Annual Meeting by:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">properly
                                                                                                                                    executing
                                                                                                                                    and
                                                                                                                                    delivering
                                                                                                                                    a
                                                                                                                                    later
                                                                                                                                    dated
                                                                                                                                    proxy
                                                                                                                                    (including
                                                                                                                                    a
                                                                                                                                    telephone
                                                                                                                                    or
                                                                                                                                    Internet
                                                                                                                                    proxy
                                                                                                                                    authorization);</FONT></TD></TR>                                                                                                                                                                    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">voting
                                                                                                                                    by
                                                                                                                                    ballot
                                                                                                                                    at
                                                                                                                                    the
                                                                                                                                    Annual
                                                                                                                                    Meeting;
                                                                                                                                    or</FONT></TD></TR>                                                                                                                                                       <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt;"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">sending
                                                                                                                                    a
                                                                                                                                    written
                                                                                                                                    notice
                                                                                                                                    of
                                                                                                                                    revocation
                                                                                                                                    to
                                                                                                                                    the
                                                                                                                                    Corporate
                                                                                                                                    Secretary
                                                                                                                                    of
                                                                                                                                    the
                                                                                                                                    Company
                                                                                                                                    at
                                                                                                                                    Steven
                                                                                                                                    Madden,
                                                                                                                                    Ltd.,
                                                                                                                                    52-16
                                                                                                                                    Barnett
                                                                                                                                    Avenue,
                                                                                                                                    Long
                                                                                                                                    Island
                                                                                                                                    City,
                                                                                                                                    New
                                                                                                                                    York
                                                                                                                                    11104.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>How
does the Board of Directors recommend that I vote my shares?</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Board of Directors of the Company recommends that you vote:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#8220;FOR&#8221;
                                                                                                                                    the
                                                                                                                                    election
                                                                                                                                    of
                                                                                                                                    each
                                                                                                                                    of
                                                                                                                                    the
                                                                                                                                    six
                                                                                                                                    director
                                                                                                                                    nominees;</FONT></TD></TR>                                                                                                                                                              <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#8220;FOR&#8221;
                                                                                                                                    the
                                                                                                                                    approval
                                                                                                                                    of
                                                                                                                                    an
                                                                                                                                    amendment
                                                                                                                                    to
                                                                                                                                    the
                                                                                                                                    Company&#8217;s
                                                                                                                                    Certificate
                                                                                                                                    of
                                                                                                                                    Incorporation
                                                                                                                                    that
                                                                                                                                    increases
                                                                                                                                    the
                                                                                                                                    total
                                                                                                                                    number
                                                                                                                                    of
                                                                                                                                    shares
                                                                                                                                    of
                                                                                                                                    Common
                                                                                                                                    Stock
                                                                                                                                    authorized
                                                                                                                                    for
                                                                                                                                    issuance;</FONT></TD></TR>                                                                                                                                                              <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#8220;FOR&#8221;
                                                                                                                                    the
                                                                                                                                    approval,
                                                                                                                                    on
                                                                                                                                    a
                                                                                                                                    non-binding
                                                                                                                                    advisory
                                                                                                                                    basis,
                                                                                                                                    of
                                                                                                                                    the
                                                                                                                                    executive
                                                                                                                                    compensation
                                                                                                                                    of
                                                                                                                                    the
                                                                                                                                    Company&#8217;s
                                                                                                                                    named
                                                                                                                                    executive
                                                                                                                                    officers,
                                                                                                                                    as
                                                                                                                                    disclosed
                                                                                                                                    in
                                                                                                                                    this
                                                                                                                                    Proxy
                                                                                                                                    Statement;
                                                                                                                                    and</FONT></TD></TR>                                                                                                                                                        <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt;"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#8220;FOR&#8221;
                                                                                                                                    the
                                                                                                                                    ratification
                                                                                                                                    of
                                                                                                                                    the
                                                                                                                                    appointment
                                                                                                                                    of
                                                                                                                                    EisnerAmper
                                                                                                                                    LLP
                                                                                                                                    as
                                                                                                                                    the
                                                                                                                                    Company&#8217;s
                                                                                                                                    independent
                                                                                                                                    registered
                                                                                                                                    public
                                                                                                                                    accounting
                                                                                                                                    firm
                                                                                                                                    for
                                                                                                                                    the
                                                                                                                                    fiscal
                                                                                                                                    year
                                                                                                                                    ending
                                                                                                                                    December
                                                                                                                                    31,
                                                                                                                                    2013.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">ALL
PROXIES RECEIVED WILL BE VOTED IN ACCORDANCE WITH THE CHOICES SPECIFIED ON SUCH PROXIES. PROXIES WILL BE VOTED IN FAVOR OF A PROPOSAL
IF NO CONTRARY SPECIFICATION IS MADE. ALL VALID PROXIES OBTAINED WILL BE VOTED AT THE DISCRETION OF THE PERSONS NAMED IN THE PROXY
WITH RESPECT TO ANY OTHER BUSINESS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY ADJOURNMENTS OR POSTPONEMENTS THEREOF.
AS NOTED ABOVE, IF YOU HOLD YOUR SHARES BENEFICIALLY THROUGH A BROKER OR NOMINEE AND FAIL TO PROVIDE SPECIFIC VOTING INSTRUCTIONS
TO THAT BROKER OR NOMINEE, YOUR SHARES WILL NOT BE VOTED IN THE ELECTION OF DIRECTORS AND THE </FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ADVISORY
VOTE ON EXECUTIVE COMPENSATION<FONT STYLE="color: black">.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Who
will bear the expenses of this solicitation?</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
expense of this solicitation, including preparing, printing and mailing this Proxy Statement, the exhibits hereto and the proxies
solicited hereby, will be borne by the Company. In addition to the use of the mails, proxies may be solicited by officers and
directors and employees of the Company, without additional remuneration, by personal interviews, telephone, telegraph or facsimile
transmission. The Company will also request brokerage firms, nominees, custodians and fiduciaries to forward proxy materials to
the beneficial owners of shares of Common Stock held of record by them and will provide reimbursements for the cost of forwarding
the material in accordance with customary charges. The Company has entered into an agreement with Phoenix Advisory Partners to
assist in the solicitation of proxies and provide related advice and informational support. The total expense of this engagement,
which will be borne by the Company, including customary disbursements, is not expected to exceed $20,000 in the aggregate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>How
will the voting results be reported?</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
preliminary results of the voting on the proposals will be reported at the Annual Meeting. The final certified results will be
reported in a Current Report on Form 8-K, which will be filed with the SEC within four business days following the Annual Meeting.</FONT></P>

<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa004_v1"></A>STOCKHOLDER
NOMINATIONS FOR BOARD MEMBERSHIP, PROPOSALS AND SUBMISSIONS FOR THE COMPANY&rsquo;S 2014 ANNUAL MEETING</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
accordance with Article II, Section 5 of the Company&rsquo;s By-Laws, director nominations for the 2014 Annual Meeting of Stockholders
of the Company (the &ldquo;2014 Annual Meeting&rdquo;) can only be made by a stockholder of the Company who (A) is a stockholder
of record on the date of the giving of the notice of such director nominations and on the record date for the determination of
stockholders entitled to vote at such meeting, and (B) complies with the notice requirements and procedures set forth in Article
II, Section 5 of the Company&rsquo;s Amended and Restated By-Laws (the &ldquo;By-Laws&rdquo;). A stockholder&rsquo;s notice to
the Corporate Secretary with respect to any such nominations must be timely and in proper written form pursuant to Article II,
Section 5 of the Company&rsquo;s By-Laws, including containing certain information concerning the nominating or proposing stockholder
and certain information concerning the nominee, and must be delivered to, or mailed and received at, the Company&rsquo;s principal
executive offices not less than 120 days nor</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">more
than 150 days prior to the first anniversary of the date of the Company&rsquo;s 2013 Annual Meeting. Accordingly, any written
notice given by or on behalf of a stockholder pursuant to Article II, Section 5 of the Company&rsquo;s By-Laws in connection with
the 2014 Annual Meeting must be received no later than January 24, 2014 and no earlier than December 25, 2013.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
accordance with rules promulgated by the SEC, any stockholder who wishes to submit a proposal for inclusion in the proxy material
to be distributed by the Company in connection with the 2014 Annual Meeting must do so no later than [December 16], 2013. In addition,
in accordance with Article I, Section 7(f) of the Company&rsquo;s By-Laws, in order to be properly brought before the 2014 Annual
Meeting, a matter must be either (i) specified in the notice of such meeting given by or at the direction of the Board of Directors
(or any duly authorized committee thereof), (ii) otherwise properly brought before such meeting by or at the direction of the
Board of Directors (or any duly authorized committee thereof) or (iii) specified in a notice in proper written form given by a
stockholder of record on the date of the giving of the notice and on the record date for such meeting, which notice conforms to
the requirements of Article I, Section 7(f) of the By-Laws and is delivered to, or mailed and received at, the Company&rsquo;s
principal executive offices not less than 120 days nor more than 150 days prior to the first anniversary of the date of the Company&rsquo;s
2013 Annual Meeting. Accordingly, any written notice given by or on behalf of a stockholder pursuant to the foregoing clause (iii)
in connection with the 2014 Annual Meeting must be received no later than January 24, 2014 and no earlier than December 25, 2013.
In addition, for business to be properly brought before the 2014 Annual Meeting by a stockholder pursuant to the foregoing clause
(iii), such stockholder shall have complied with any other applicable requirements, including, but not limited to, the requirements
of Rule 14a-8 promulgated by the SEC.</FONT></P>


<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->



<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smpa005_v1"></A>PROPOSAL
ONE:</B></FONT><BR>
<BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ELECTION OF DIRECTORS</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company&rsquo;s By-Laws provide that the Board of Directors of the Company shall be comprised of a minimum of one director and
that, subject to this limitation, the number of directors may be fixed from time to time by action of the directors. The Company&rsquo;s
Board of Directors has fixed the number of directors to comprise the Board of Directors at six directors and the Board of Directors
presently is comprised of six directors whose terms expire at the Annual Meeting. Directors serve a one-year term.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Upon
recommendation of the Nominating/Corporate Governance Committee of the Board of Directors, the Board of Directors has nominated
and is recommending to the stockholders the election of each of the six nominees named below to serve as a director of the Company
until the next annual meeting of the Company&rsquo;s stockholders and until his successor is duly elected and qualified or until
his earlier death, resignation or removal from office. All nominees have consented to being named in this Proxy Statement and
to serving on the Board of Directors if elected.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A NAME="smpa006_v1"></A>Biographical
Summaries of Nominees for the Board of Directors</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
names and biographical summaries of the six persons who have been recommended by the Nominating/ Corporate Governance Committee
of the Board of Directors and nominated by the Board of Directors to stand for election at the Annual Meeting are provided below
for your information.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our
Board of Directors includes members who are well-qualified to serve on the Board and its committees and to represent the best
interests of our stockholders. The Board and the Nominating/Corporate Governance Committee select nominees with a view to establishing
a Board of Directors that is comprised of individuals who have extensive business leadership experience, are independent, bring
diverse perspectives to the Board, possess high ethical standards and sound business judgment and acumen and a willingness to
devote the time necessary for the Board to effectively fulfill its responsibilities. We believe that all of the director nominees
possess these qualifications and provide the Board with a full complement of knowledge, business skills and expertise for the
effective management of our Company. In addition to these general qualifications, provided below for each nominee for director
is a discussion of the experience, qualifications, attributes and skills that led to the Board&rsquo;s conclusion that the nominee
should serve as a director.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Edward
R. Rosenfeld</I></B><I> - Chairman of the Board and Chief Executive Officer</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Edward
R. Rosenfeld, 37, has served as a director of the Company since February 2008 and has served on the Company&rsquo;s Investment
Committee since April 2008. Mr. Rosenfeld has been Chairman of the Board and Chief Executive Officer since August 2008 after serving
as interim Chief Executive Officer of the Company from March 24, 2008 and prior to that, serving as the Executive Vice President
of Strategic Planning and Finance of the Company. Mr. Rosenfeld has been a member of the executive management team since joining
the Company in May 2005. Prior to joining the Company, Mr. Rosenfeld was a Vice President with Peter J. Solomon Company, an investment
banking boutique, where he specialized in mergers and acquisitions in the retail, apparel and footwear industries. Mr. Rosenfeld
serves as a director of Summer Search New York City, a non-profit corporation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">With
more than 15 years of experience focused on the retail, apparel and footwear industries, eight of which have been with the Company,
Mr. Rosenfeld possesses particular knowledge of and experience in the industry that strengthens the Board&rsquo;s collective qualifications,
skills and experience. Mr. Rosenfeld&rsquo;s background in finance and his analytical skills gained through his years in investment
banking provide the Board and the Investment Committee with insight and guidance with respect to, among other things, strategic
business development matters. Mr. Rosenfeld has strong leadership skills and an in-depth understanding of the Company and its
goals from his positions as the Chairman of the Board and Chief Executive Officer.</FONT></P>

<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>John
L. Madden</I></B><I> - Owner of JLM Consultants, Inc.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">John
L. Madden, 66, has served as a director of the Company since 1993 and has served on the Company&rsquo;s
Investment Committee, as its Chair, since April 2008. Since June 2004, Mr. Madden&rsquo;s business consulting company, JLM Consultants,
Inc., has provided consulting services to the Company with respect to international sales. From April 1998 through September 2003,
Mr. Madden owned a branch office of Tradeway Securities Group, Inc., a brokerage firm, in Florida. From May 1996 through December
1996, Mr. Madden&rsquo;s consulting company, JLM Consultants, Inc., acted as a branch office of Merit Capital, Inc., a brokerage
firm. From May 1994 to May 1996, Mr. Madden served as Vice President of Investments for GKN Securities, Inc.. a brokerage firm.
From August 1993 to April 1994, Mr. Madden was employed by Biltmore Securities, Inc., a brokerage firm, as Managing Director and
registered sales representative. Mr. Madden is the brother of Steven Madden, the Company&rsquo;s founder and Creative and Design
Chief. Please see the section of this Proxy Statement captioned &ldquo;Certain Relationships and Related Party Transactions.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">As
a result of Mr. Madden&rsquo;s numerous years of experience in finance and investing, he possesses a proficiency in financial
analysis and investing that strengthens the Board&rsquo;s collective qualifications, skills and experience and provides the Board
and the Investment Committee with greater insight and guidance. Mr. Madden&rsquo;s years in business consulting and his strong
financial background have provided him with expertise in addressing operational and management issues and providing overall direction
for complex corporations like ours. Mr. Madden brings a wealth of knowledge and a depth of experience that comes from over twenty
years of service on the Company&rsquo;s Board of Directors. His knowledge of Company history and his understanding of the Company
in the context of the Company&rsquo;s long-term strategic plan provides the Board with continuity of direction and focus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Peter
Migliorini</I></B><I> - Sales Manager, Greschlers, Inc.&#9;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Peter
Migliorini, 64, has served as a director of the Company since October 1996 and has served on the Company&rsquo;s Audit Committee
since October 1996, the Nominating/Corporate Governance Committee, as its Chair, since July 2004 and the Compensation Committee,
as its Chair, since July 2004. Mr. Migliorini is also Presiding Director over all executive sessions of the independent directors.
Mr. Migliorini has been Sales Manager for Greschlers, Inc., a building supplies company, since 1994. From 1987 to 1994, Mr. Migliorini
served as Director of Operations for Mackroyce Group, a construction company. Prior to 1987, Mr. Migliorini held various positions
of increasing responsibility from Assistant Buyer to Chief Planner/Coordinator for several shoe companies, including Meldisco
Shoes, Perry Shoes and Fasco Shoes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mr.
Migliorini possesses extensive executive level financial, sales and operations experience. His numerous years of business experience
at various levels and in various industries provide the Board with a measure of practical orientation regarding the Company&rsquo;s
operations and growth endeavors. Mr. Migliorini&rsquo;s early experience in the shoe industry also provides relevant knowledge
and expertise in the Company&rsquo;s specific industry.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Richard
P. Randall</I></B><I> - Retired Executive Vice President and Chief Financial Officer, Direct Holdings Worldwide,
LLC</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Richard
P. Randall, 75, has served as a director of the Company since April 2006 and has served on the Company&rsquo;s Audit Committee,
as its Chair, since 2006, on the Nominating/Corporate Governance Committee since September 2008 and on the Investment Committee
since April 2008. Mr. Randall was the Executive Vice President and Chief Financial Officer of Direct Holdings Worldwide, LLC,
the parent company of Lillian Vernon Corp., a catalog and online retailer of gifts and household goods, and Time-Life, a music
and video marketing company, from 2002 until his retirement in June 2005. Prior to 2002, Mr. Randall served as Senior Vice President
and Chief Financial Officer of Coach, Inc., a luxury leather goods company, and Chief Operating Officer and Chief Financial Officer
of Lillian Vernon Corp. from 2000 to 2001 and 1998 to 2000, respectively. Currently, Mr. Randall serves as a director and chairs
the Audit and Risk Committee of Aceto Corporation, a generic pharmaceutical, nutraceutical and chemical distribution company.
Mr. Randall also serves on the board of directors and is a member of the Audit Committee of P&amp;F Industries, Inc., a manufacturer
and importer of tools sold principally to the industrial, retail and automotive markets, as well as residential hardware. Mr.
Randall is also a director of The Burke Rehabilitation Hospital and also serves as a member of the Executive, Finance, Audit and
Research Committees of the hospital. Mr. Randall served as a director and chair of the Audit Committee of Universal Travel Group,
a travel services provider in the People&rsquo;s Republic of China, and of Home Systems Group, a manufacturer and distributor
of household appliances in the People&rsquo;s Republic of China, from 2007 until 2008 when he resigned from these boards.</FONT></P>

<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">With
decades of business experience, including tenures as Chief Financial Officer and Chief Operating Officer of both publicly traded
and privately held companies in the retail industry, Mr. Randall possesses extensive knowledge of accounting and finance, the
retail industry and the issues impacting a publicly traded company. Mr. Randall has extensive executive level experience establishing
his capabilities in management of complex organizations and is a certified public accountant. His expertise in finance qualifies
him to serve as the Audit Committee &ldquo;audit committee financial expert&rdquo; and his service on the boards and committees
of other companies has allowed him to gain broad-based experience and sensitivity regarding best practices, which he shares with
the Board.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 38.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Ravi
Sachdev </I></B><I>- Managing Director, J.P. Morgan.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ravi
Sachdev, 36, has served as a director of the Company since September 2008 and has served on the Company&rsquo;s Audit Committee
since September 2008. Mr. Sachdev joined J.P. Morgan, a global investment bank, as a Managing Director in November 2010, and focuses
on the healthcare services subsector. Previously, Mr. Sachdev was a Managing Director at Deutsche Bank Securities, Inc. (&ldquo;Deutsche
Bank&rdquo;) from January 2009 and prior to that held the position of Director at Deutsche Bank from January 2007 until January
2009. Mr. Sachdev joined Deutsche Bank in 2006 as a Vice President. Prior to joining Deutsche Bank, Mr. Sachdev was a Vice President
at Peter J. Solomon Company, an investment banking boutique, specializing in mergers and acquisitions in the healthcare sector,
from 1998 to 2006.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mr.
Sachdev possesses knowledge of finance and the financial analytics used to measure business performance. His 14 years of professional
experience in investment banking brings to the Board a thorough understanding of the financial issues affecting public companies
and greater insights in business valuation together with a practical orientation with respect to acquisitions and integrations
which our Company has undertaken over the last few years.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Thomas
H. Schwartz</I></B><I> - Owner, Sumner and Forge Investors LLC&#9;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Thomas
H. Schwartz, 65, has served as a director of the Company since May 2004 and has served on the Company&rsquo;s Compensation Committee
since July 2004. Since March 2007, Mr. Schwartz has been the Chief Executive Officer and sole owner of Sumner and Forge Investors
LLC, a company that invests in real estate and manages properties in which it holds ownership interests. Previously, Mr. Schwartz
was a Managing Director of Helmsley-Spear, Inc., a real estate brokerage and management company, from 1984 to March 2007.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">With
more than twenty years of experience as a Managing Director of Helmsley-Spear, Inc. and six years as the owner of his own real
estate investment firm, Mr. Schwartz brings to the Board extensive executive level experience in handling operations issues and
practical expertise in management.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 15pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Required
Vote</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Proxies
will be voted for the election of the six nominees as directors of the Company unless otherwise specified in the proxy. A plurality
of the votes cast by the holders of shares of Common Stock present in person or represented by proxy at the Annual Meeting will
be necessary to elect the nominees as directors. This means that the director nominees who receive the greatest number of affirmative
votes cast are elected as directors subject to our Director Election (Majority Voting) Policy which is described under the caption
&ldquo;Corporate Governance-Director &ndash; Election (Majority Voting) Policy&rdquo; below. If, for any reason, any nominee is
unable or unwilling to serve, the proxies will be voted for a substitute nominee who will be designated by the Board of Directors
at the Annual Meeting. Stockholders may abstain from voting by marking the appropriate boxes on the accompanying proxy. Abstentions
will be counted separately and used for purposes of calculating whether a quorum is present at the Annual Meeting.&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 11; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Director
Election (Majority Voting) Policy</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">It
is the policy of the Company that any nominee for director who receives a greater number of &ldquo;WITHHOLD&rdquo; votes than
&ldquo;FOR&rdquo; votes for his election must promptly submit a letter of resignation to the Nominating/Corporate Governance Committee
following the certification of the stockholder vote. In such event, the Nominating/Corporate Governance Committee would then consider
the offer of resignation and make a recommendation to the Board of Directors as to whether or not the resignation should be accepted.
This policy does not apply in contested elections. For more information about this policy, see &ldquo;Corporate Governance &ndash;
Director Election (Majority Voting) Policy&rdquo; below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 15pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Recommendation
of the Board of Directors</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Nominating/Corporate Governance Committee of the Board and the entire Board of Directors unanimously recommend a vote &ldquo;FOR&rdquo;
the election of Messrs. Edward R. Rosenfeld, John L. Madden, Peter Migliorini, Richard P. Randall, Ravi Sachdev and Thomas H.
Schwartz.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa007_v1"></A>CORPORATE GOVERNANCE</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa008_v1"></A>The
Board of Directors</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our
business is managed under the direction and oversight of the Board of Directors who are elected by the Company&rsquo;s stockholders.
Directors meet their responsibilities by participating in meetings of the Board of Directors and the various committees of the
Board on which they sit, as well as through communicating with our Chairman and Chief Executive Officer, other officers and employees
of the Company and by consulting with our independent registered public accounting firm and other third parties.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa009_v1"></A>Director Independence</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Board of Directors is currently comprised of six members. The Board of Directors has determined that the following director nominees
are &ldquo;independent&rdquo; for purposes of the criteria of the SEC and The Nasdaq Global Select Market listing standards: Messrs.
Migliorini, Randall, Sachdev and Schwartz. If the six nominees set forth above are elected, the Board will be comprised of a majority
of independent directors. The Board of Directors has held regularly scheduled executive sessions for the independent directors,
with Peter Migliorini serving as Presiding Director of such executive sessions.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa010_v1"></A>Director Attendance at Meetings</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Attendance
at Annual Meetings of Stockholders</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company has no specific policy regarding director attendance at its annual meetings of stockholders. The Company encourages all
of its directors to attend annual meetings of the Company&rsquo;s stockholders and two directors attended the Company&rsquo;s
2012 annual meeting of stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Attendance
at Meetings of the Board of Directors</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Board of Directors held four regularly scheduled meetings during the 2012 Fiscal Year, two of which were not attended by Mr. Schwartz,
and acted by unanimous written consent on two occasions during the 2012 Fiscal Year. In Fiscal Year 2012, each director attended
at least 75% of the aggregate number of meetings held by all committees on which he then served.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa011_v1"></A>Director Election (Majority Voting) Policy</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company has adopted a Director Election (Majority Voting) Policy. Pursuant to this policy, in an uncontested election of directors
(that is, an election where the number of nominees is equal to the number of seats open) any nominee for director who receives
a greater number of &ldquo;WITHHOLD&rdquo; votes than &ldquo;FOR&rdquo; votes for his election must promptly submit an offer of
resignation to the Nominating/Corporate Governance Committee following the certification of the stockholder vote for consideration
in accordance with the following procedures.</FONT></P>

<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
such event, upon receipt of the resignation, the Nominating/Corporate Governance Committee would promptly consider the appropriateness
of the director&rsquo;s continued service on the Board of Directors and recommend to the Qualified Independent Directors (as defined
below) the action to be taken with respect to the resignation, which could include (1)&nbsp;accepting the resignation; (2)&nbsp;rejecting
the resignation; (3) maintaining the director but addressing what the Qualified Independent Directors believe to be the underlying
cause of the &ldquo;WITHHOLD&rdquo; votes; or (4)&nbsp;determining that the director will not be renominated by the Board of Directors
in future elections. The Nominating/Corporate Governance Committee would consider factors such as (a)&nbsp;the reasons expressed
by the stockholders for withholding votes from such director; (b)&nbsp;any possibilities for curing the underlying cause of the
&ldquo;WITHHOLD&rdquo; votes; (c)&nbsp;the tenure and qualifications of the director and his past and expected future contributions
to the Company; (d)&nbsp;the overall composition of the Board of Directors, including, without limitation, whether accepting the
resignation would cause the Company to fail to meet any applicable SEC or Nasdaq requirement; (e) the availability of other qualified
candidates; and (f) the Company&rsquo;s Board of Director Candidate Guidelines and Director Election (Majority Voting) Policy.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Qualified Independent Directors would then act on the Nominating/Corporate Governance Committee&rsquo;s recommendation no later
than 90 days following the date of the stockholders&rsquo; meeting at which the director election occurred. In considering the
Nominating/Corporate Governance Committee&rsquo;s recommendation, the Qualified Independent Directors would review the factors
considered by the Nominating/Governance Committee and such additional information and factors that they believe to be relevant.
Following the Qualified Independent Directors&rsquo; decision, the Company would promptly disclose the decision in a Current Report
on Form 8-K. The Form 8-K would include a full explanation of the process by which the decision of the Qualified Independent Directors
was reached and, if applicable, the reasons why the offer of resignation was rejected.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
the event that an offer of resignation were to be accepted, the Nominating/Corporate Governance Committee would recommend to the
Board of Directors whether to fill the vacancy or reduce the size of the Board of Directors accordingly. Any director required
to submit his resignation pursuant to this policy would not participate in the Nominating/Corporate Governance Committee&rsquo;s
recommendation or the Qualified Independent Directors&rsquo; consideration of the resignation but, prior to voting on the director&rsquo;s
resignation offer, the Qualified Independent Directors would provide to the director an opportunity to submit any information
or statement that he believes relevant to the Qualified Independent Directors&rsquo; consideration of the resignation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">For
purposes of this policy, &ldquo;Qualified Independent Directors&rdquo; means all directors who (1) are &ldquo;independent&rdquo;
for purposes of The Nasdaq Global Select Market listing standards and (2) are not required to offer their resignation in accordance
with this policy. If there are fewer than three independent directors then serving on the Board of Directors who are not required
to submit their resignations in accordance with this policy, then the Qualified Independent Directors shall consist of all of
the independent directors and each independent director who is required to offer his resignation in accordance with this policy
shall recuse himself from the deliberations and voting only with respect to his individual offer to resign.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa012_v1"></A>Committees of the Board</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Board of Directors, among other committees, has a standing Audit Committee, Compensation Committee and Nominating/Corporate Governance
Committee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Audit
Committee</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
members of the Audit Committee are Messrs. Randall (Chairman), Migliorini and Sachdev. The Audit Committee is comprised of directors
who are &ldquo;independent&rdquo; for purposes of The Nasdaq Global Select Market listing standards and who meet the independence
requirements contained in Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;) Rule 10A-3(b)(1). The Board
has determined that Mr. Randall meets the SEC criteria of an &ldquo;audit committee financial expert&rdquo; and he is currently
serving as such. The Audit Committee is primarily responsible for reviewing the services performed by the Company&rsquo;s independent
registered public accountants, evaluating the Company&rsquo;s accounting policies and its system of internal controls, and reviewing
significant financial transactions. During the 2012 Fiscal Year, the Audit Committee met five times.</FONT></P>

<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Audit Committee is responsible for reviewing and striving to ensure the integrity of the Company&rsquo;s financial statements
and oversight of our compliance with legal and regulatory requirements, our internal audit function and an independent registered
public accounting firm. Among other matters, the Audit Committee, with management and independent and internal auditors, reviews
the adequacy of the Company&rsquo;s internal accounting controls that could significantly affect the Company&rsquo;s financial
statements. The Audit Committee is also directly and solely responsible for the appointment, retention, compensation, oversight
and termination of the Company&rsquo;s independent registered public accountants. In addition, the Audit Committee also functions
as the Company&rsquo;s Qualified Legal Compliance Committee (the &ldquo;QLCC&rdquo;). The purpose of the QLCC is to receive, retain
and investigate reports made directly, or otherwise made known, of evidence of material violations of any United States federal
or state law, including any breach of fiduciary duty by the Company, its officers, directors, employees or agents, and if the
QLCC believes appropriate, to recommend courses of action to the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Management
has primary responsibility for the Company&rsquo;s financial statements and the overall reporting process, including the Company&rsquo;s
system of internal controls. The independent registered public accountants audit the annual financial statements prepared by management,
express an opinion as to whether those financial statements present fairly the financial position, results of operations and cash
flows of the Company in conformity with accounting principles generally accepted in the United States and discuss with the Audit
Committee any issues they believe should be raised with the Audit Committee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Audit Committee is also responsible for the oversight of the Company&rsquo;s risk management process, which is discussed in the
&ldquo;Risk Oversight&rdquo; section below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
performing its functions, the Audit Committee meets with management on at least a quarterly basis to review and discuss the annual
audited financial statements, quarterly financial statements and related reports and to consider the adequacy of the Company&rsquo;s
internal controls and the objectivity of its financial reporting. The Audit Committee discusses these matters with the Company&rsquo;s
independent registered public accountants and with appropriate Company financial personnel. Meetings are held with the independent
registered public accountants, who have unrestricted access to the Audit Committee. In addition, the Audit Committee reviews the
Company&rsquo;s financing plans and reports and makes recommendations to the full Board of Directors for approval and to authorize
action. The Board has adopted a written charter setting out the functions the Audit Committee is to perform. A copy of the Audit
Committee Charter is available on the Company&rsquo;s website at <U>www.stevemadden.com</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Nominating/Corporate
Governance Committee</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
members of the Nominating/Corporate Governance Committee are Messrs. Migliorini (Chairman) and Randall. The Nominating/Corporate
Governance Committee is comprised of directors who are &ldquo;independent&rdquo; for purposes of The Nasdaq Global Select Market
listing standards. The Nominating/Corporate Governance Committee acted by unanimous written consent on one occasion during the
2012 Fiscal Year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Nominating/Corporate Governance Committee provides oversight with respect to a wide range of issues relating to the composition
and operation of the Board, including consideration of and recommendations regarding the size and composition of the Board of
Directors and identification of potential candidates to serve as directors. The Nominating/ Corporate Governance Committee identifies
candidates to the Board of Directors by introductions from management, members of the Board of Directors, employees of the Company
or other sources, including stockholders that satisfy the Company&rsquo;s policy regarding stockholder recommended candidates.
The Nominating/Corporate Governance Committee does not evaluate director candidates recommended by stockholders differently than
director candidates recommended by other sources.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Stockholders
wishing to submit recommendations for director nominations for the 2014 Annual Meeting should write to the Corporate Secretary,
Steven Madden, Ltd., 52-16 Barnett Avenue, Long Island City, New York 11104. Any such stockholder must (x) comply with the director
nomination provisions of the Company&rsquo;s By-Laws, (y) meet and evidence the minimum eligibility requirements specified in
Exchange Act Rule 14a-8, and (z) submit, within the same timeframe for submitting a stockholder proposal required by Rule 14a-8:
(1) evidence in accordance with Rule 14a-8 of compliance with the stockholder eligibility requirements, (2) the written consent
of the candidate(s) for nomination as a director, (3) a resume or other written statement of the qualifications of the candidate(s)
for nomination as a director, and (4) all information regarding the candidate(s) and the submitting stockholder that would be
required to be disclosed in a proxy statement filed with the SEC if the candidate(s) were nominated for election to the Board
of Directors.</FONT></P>

<!-- Field: Page; Sequence: 14; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
considering candidates for the Board of Directors, the Nominating/Corporate Governance Committee considers the Company&rsquo;s
Board of Director Candidate Guidelines and Director Election (Majority Voting) Policy, available on the Company&rsquo;s website
at <U>www.stevemadden.com</U>, the Company&rsquo;s policy regarding stockholder recommended director candidates, as set forth
above, and all other factors that are deemed appropriate including, but not limited to, the individual&rsquo;s character, education,
experience, knowledge and skills. While the Nominating/Corporate Governance Committee&rsquo;s Board of Directors Candidate Guidelines
does not expressly identify diversity as a factor for consideration regarding the evaluation of director candidates, diversity
is among the many factors the Nominating/Corporate Governance Committee considers in the candidate evaluation process. To assess
the effectiveness of the mandate set forth in the Nominating/Corporate Governance Committee&rsquo;s charter, the Nominating/Corporate
Governance Committee reviews annually with the Board the composition of the Board as a whole and recommends, if necessary, measures
to be taken so that the Board reflects the appropriate balance of knowledge, experience, skills, expertise and diversity required
for the Board as a whole.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
addition, the Nominating/Corporate Governance Committee develops and recommends corporate governance principles for the Company;
makes recommendations to the Board of Directors in support of such principles; takes a leadership role in the shaping of the corporate
governance of the Company; and oversees the evaluation of the Board of Directors and management. The Nominating/Corporate Governance
Committee operates under a formal charter that governs the Committee&rsquo;s composition, powers and responsibilities. A copy
of the Nominating/Corporate Governance Charter is available on the Company&rsquo;s website at <U>www.stevemadden.com</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Compensation
Committee</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
members of the Compensation Committee are Messrs. Migliorini (Chairman) and Schwartz. The Compensation Committee is comprised
of directors who are &ldquo;independent&rdquo; for purposes of The Nasdaq Global Select Market listing standards and applicable
tax and securities rules. The Compensation Committee met once during the 2012 Fiscal Year and acted by unanimous written consent
on three occasions during the 2012 Fiscal Year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Compensation Committee is responsible for establishing and overseeing the Company&rsquo;s compensation and incentive plans and
programs; determining and approving compensation for the Company&rsquo;s executive officers, including salaries, bonuses, perquisites
and equity awards; reviewing and approving compensation and awards for the Company&rsquo;s executive officers under the Company&rsquo;s
compensation and incentive plans and programs; administering the Company&rsquo;s equity compensation plans; reviewing and approving
a compensation program for independent members of the Board; and assisting the Board in discharging the Board&rsquo;s responsibilities
relating to management organization, performance, compensation and succession. The Compensation Committee operates under a formal
charter adopted by the Board of Directors that governs its composition, powers and responsibilities. A copy of the Compensation
Committee Charter is available on the Company&rsquo;s website at <U>www.stevemadden.com</U>.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa013_v1"></A>Board Leadership Structure, Risk Oversight, Executive Sessions of Non-Employee Directors, and Communications
Between Stockholders and the Board</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Board
Leadership Structure</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">As
noted above, our Board is currently comprised of four independent and two non-independent directors. Mr. Rosenfeld has served
as Chairman of the Board and Chief Executive Officer since August 2008, and has been a member of the Board since February 2008.
The Board has designated one of the independent directors as Presiding Director to preside over executive sessions. We believe
that the number of independent, experienced directors that comprise our Board, along with the independent oversight of our Presiding
Director, benefits the Company and its stockholders.</FONT></P>

<!-- Field: Page; Sequence: 15; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
recognize that different board leadership structures may be appropriate for companies in different situations and believe that
no one structure is suitable for all companies. We believe our current Board leadership structure is optimal for the Company because
it demonstrates to our employees, suppliers, customers, and other stakeholders that the Company is under strong leadership, with
a single person setting the tone and having primary responsibility for managing our operations and leading the Board in setting
long-term strategy. Having a single leader for both the Company and the Board eliminates confusion and duplication of efforts,
and provides clear leadership for the Company. We believe the Company, like many U.S. companies, has been well-served by this
leadership structure.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Because
the positions of Chairman of the Board and Chief Executive Officer are held by the same person, the Board believes it is appropriate
for the independent directors to elect one independent director to serve as a Presiding Director. In addition to presiding at
executive sessions of the independent directors, the Presiding Director has various responsibilities including coordinating with
the Chairman of the Board and Chief Executive Officer in establishing agenda and discussion items for Board meetings; retaining
independent advisors on behalf of the Board as the Board may determine to be necessary or appropriate and performing such other
functions as the independent directors may designate from time to time. Mr. Migliorini is currently serving as the Presiding Director.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our
Board conducts an annual evaluation in order to determine whether it and its committees are functioning effectively. As part of
this annual self-evaluation, the Board evaluates whether the current leadership structure continues to be optimal for the Company
and its stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Risk
Oversight</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our
Board is responsible for overseeing the Company&rsquo;s risk management process. The Board focuses on the Company&rsquo;s general
risk management strategy, the most significant risks facing the Company, and ensures that appropriate risk mitigation strategies
are implemented by management. The Board is also apprised of particular risk management matters in connection with its general
oversight and approval of corporate matters.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Board has delegated to the Audit Committee oversight of the Company&rsquo;s risk management process. Among its duties, the Audit
Committee reviews with management (a) the Company&rsquo;s policies with respect to risk assessment and management of risks that
may be material to the Company, (b) the Company&rsquo;s system of disclosure controls and system of internal controls over financial
reporting, and (c) the Company&rsquo;s compliance with legal and regulatory requirements. The Audit Committee is also responsible
for reviewing major legislative and regulatory developments that could materially impact the Company&rsquo;s contingent liabilities
and risks. Our other Board committees also consider and address risks as they perform their respective committee responsibilities.
All committees report to the full Board as appropriate, including when a matter rises to the level of a material or enterprise
level risk.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company&rsquo;s management is responsible for day-to-day risk management. Our risk management and internal audit areas serve as
the primary monitoring and testing function for company-wide policies and procedures, and manage the day-to-day oversight of the
risk management strategy for the ongoing business of the Company. This oversight includes identifying, evaluating, and addressing
potential risks that may exist at the enterprise, strategic, financial, operational, and compliance and reporting levels.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
believe the division of risk management responsibilities described above is an effective approach for addressing the risks facing
the Company and that our Board leadership structure supports this approach.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Executive
Sessions of Independent Directors</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Board holds executive sessions of its independent directors generally at each regularly scheduled meeting. The Presiding Director
serves as the chairperson for these executive sessions.</FONT></P>


<!-- Field: Page; Sequence: 16; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Communications
between Stockholders and the Board</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company has adopted a procedure by which stockholders may send communications to one or more members of the Board of Directors
by writing to such director(s) or to the entire Board of Directors in care of the Corporate Secretary, Steven Madden, Ltd., 52-16
Barnett Avenue, Long Island City, New York 11104. The Board has instructed the Corporate Secretary to review all communications
so received and to exercise his discretion not to forward to the Board correspondence that is inappropriate, such as business
solicitations, frivolous communications and advertising, routine business matters (i.e. business inquiries, complaints, or suggestions)
and personal grievances. However, any director may at any time request the Corporate Secretary to forward to such director any
and all communications received by the Corporate Secretary but not forwarded to the directors.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa014_v1"></A>Code of Business Conduct and Ethics</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">All
of the Company&rsquo;s employees, officers (including senior executive, financial and accounting officers) and directors are held
accountable for adherence to the Company&rsquo;s Code of Business Conduct and Ethics (the &ldquo;Conduct Code&rdquo;). The Conduct
Code is intended to establish standards necessary to deter wrongdoing and to promote compliance with applicable governmental laws,
rules and regulations and honest and ethical conduct. The Conduct Code covers all areas of professional conduct, including conflicts
of interest, fair dealing, financial reporting and disclosure, protection of Company assets and confidentiality. Employees have
an obligation to promptly report any known or suspected violation of the Conduct Code without fear of retaliation. Waiver of any
provision of the Conduct Code for executive officers and directors may only be granted by the Board of Directors or one of its
committees and any such waiver or modification of the Conduct Code relating to such individuals will be disclosed by the Company.
A copy of the Conduct Code is available on the Company&rsquo;s website at <U>www.stevemadden.com</U> and may also be obtained
by any stockholder without charge upon request by writing to the Corporate Secretary, Steven Madden, Ltd., 52-16 Barnett Avenue,
Long Island City, New York 11104.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa015_v1"></A>Certain Relationships and Related Party Transactions</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>JLM
Consultants, Inc., a company wholly-owned by John L. Madden. </I>Since<I> </I>2004, the Company has engaged JLM Consultants, Inc.,
a company wholly-owned by John L. Madden, a member of the Board and the brother of Steven Madden, the Company&rsquo;s founder
and Creative and Design Chief, to provide consulting services to the Company with respect to the development of international
sales of the Company. On February 23, 2012, the Company entered into a consulting agreement (the &ldquo;JLM Consulting Agreement&rdquo;)
with JLM Consultants, Inc., which replaced a prior consulting agreement, and continues in effect until December 31, 2014. In accordance
with the terms of the JLM Consulting Agreement, for the 2012 Fiscal Year, JLM Consultants, Inc. received the following compensation
from the Company for services rendered: (a) a commission equal to 1.5% of international sales and 10% of retail royalty income,
(b) a monthly draw in the amount of $25,000, which amount was offset against commissions earned, (c) a $1,000 per month travel
allowance and (d) $4,599.80 per month reimbursement for health insurance premiums for John L. Madden. Pursuant to this arrangement,
JLM Consultants, Inc. received a total of $1,447,270 from the Company in the 2012 Fiscal Year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Pursuant
to the JLM Consulting Agreement, on January 2, 2013, the Company issued 48,008 restricted shares of the Company&rsquo;s Common
Stock to JLM Consultants, Inc. under the </FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Steven Madden, Ltd. 2006
Stock Incentive Plan, as amended (the &ldquo;2006 Plan&rdquo;), which shares will vest in twelve substantially equal quarterly
installments over a three-year period commencing on April 1, 2013 and continuing to vest quarterly thereafter until the final
installment vests on January 1, 2016.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black"><I>Steven
Madden &ndash; Employment Agreement. </I>Effective as of July 1, 2005, the Company amended and restated its employment agreement
with the Company&rsquo;s founder and Creative and Design Chief, Steven Madden, pursuant to which Mr. Madden agreed to continue
to serve as the Company&rsquo;s Creative and Design Chief. The term of Mr. Madden&rsquo;s employment under his employment agreement
commenced on July 1, 2005 and, in accordance with the amendment of the agreement effective December 31, 2011, will end on December
31, 2023. Prior to this recent amendment, the agreement had provided for an annual salary of $600,000, with a 7% increase of base
salary on a compound basis in each of the third, fifth, seventh and ninth years of the agreement. The agreement had also provided
for an annual cash bonus in an amount equal to at least 2% of the Company&rsquo;s EBITDA (the &ldquo;Annual Bonus&rdquo;) and
an annual cash bonus in relation to &ldquo;new business&rdquo; (as defined in the agreement) in an amount equal to at least (i)
2.5% of new business gross direct revenues plus (ii) 10% of all license or other fee income above $2,000,000 (the &ldquo;New Business
Bonus&rdquo;). The agreement, as amended, increases Mr. Madden&rsquo;s annual base salary but eliminates the </FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Annual
Bonus and the New Business Bonus and provides that all cash bonuses subsequent to the fiscal year ended December 31, 2011 will
be at the sole discretion of the Company&rsquo;s Board of Directors. Under the agreement, as amended, Mr. Madden&rsquo;s annual
base salary was fixed at $5,416,667 in 2012, $7,416,667 in 2013, $9,666,667 in 2014, $11,916,667 in 2015 and $10,697,917 in 2016
and in each year thereafter through the end of the term of employment. In addition, the amended agreement entitles Mr. Madden
to an annual life insurance premium reimbursement of up to $200,000. The amendment also eliminates an annual non-accountable expense
allowance of $200,000 that had been previously provided to Mr. Madden under the agreement. Pursuant to the amended agreement,
on February 8, 2012, Mr. Madden was granted 975,371 restricted shares of Common Stock, valued at approximately $40 million, under
the <FONT STYLE="color: black">2006 Plan. </FONT>The restricted Common Stock will vest in equal annual installments over seven
years commencing on December 31, 2017 through December 31, 2023, subject to Mr. Madden&rsquo;s continued employment with the Company
on each such vesting date.</FONT></P>

<!-- Field: Page; Sequence: 17; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">On
June 30, 2012, pursuant to an election right granted to him under the agreement, as amended, Mr. Madden notified the Company of
his election to receive an additional restricted stock award valued at $40 million in consideration of a reduction in his annual
base salary in years subsequent to the 2012 Fiscal Year. Accordingly, on July 3, 2012, Mr. Madden was issued 1,262,228 restricted
shares of Common Stock under the 2006 Plan. The restricted Common Stock will vest in equal annual installments over six years
commencing on December 31, 2018 through December 31, 2023, subject to Mr. Madden&rsquo;s continued employment with the Company
on each such vesting date. As a result of his election to receive an additional restricted stock award, Mr. Madden&rsquo;s annual
base salary for years subsequent to the 2012 Fiscal Year has been reduced as follows: $4,000,000 in 2013, $6,125,000 in 2014,
$8,250,000 in 2015 and $7,026,042 in 2016 and in each year thereafter through the end of the term of employment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Mr.
Madden is also eligible to receive annually, on or about the date of the Company&rsquo;s annual meeting of stockholders (but not
later than June 30<SUP>th</SUP>), an option grant (the &ldquo;Annual Option&rdquo;) to purchase a number of shares of Common Stock,
with such number to be equal to the greater of (a) 100% of the largest aggregate number of shares of Common Stock available upon
the exercise of an option or options granted to any other continuing full-time employee of the Company during the preceding twelve-month
period and (b) 100,000 shares of Common Stock; provided, however, that a grant to Mr. Madden in excess of 150% of the number of
shares of Common Stock subject to options granted to such other continuing full-time employee would require stockholder approval.
Any Annual Option granted to Mr. Madden would vest quarterly over a one-year period following the grant date and would be exercisable
at a price equal to the closing price of the Company&rsquo;s Common Stock on the grant date for a period of five years following
the grant date. </FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In addition to the Annual Option, the agreement,
as amended, provides for a potential additional one-time stock option grant to purchase 500,000 shares of the Company&rsquo;s
Common Stock <FONT STYLE="color: black">(the number of option shares to be subject to adjustment in the event of a future change
in capital structure of the Company resulting from a stock split, reverse stock split or other transaction or event having similar
effect) </FONT>in the event that the Company achieves earnings per share, on a fully-diluted basis, equal to $3.00 in any fiscal
year ending December 31, 2015 or after. If granted, the option would vest in equal annual installments of 20% over a five-year
period and be exercisable for a period of seven years at a price equal to the closing price of the Company&rsquo;s Common Stock
on the date immediately preceding the grant date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
the event of Mr. Madden&rsquo;s death, his employment agreement provides for the payment to Mr. Madden&rsquo;s estate of his base
salary for the 12-month period immediately subsequent to the date of his death. Further, in the event that Mr. Madden&rsquo;s
employment agreement is terminated due to Mr. Madden&rsquo;s total disability (as defined in the agreement), &ldquo;for cause&rdquo;
(as defined in the agreement) or due to Mr. Madden&rsquo;s resignation, the Company is obligated to pay Mr. Madden the amount
of compensation that is accrued and unpaid through the date of termination. In the event Mr. Madden&rsquo;s employment agreement
is terminated for any reason (other than &ldquo;for cause&rdquo; or due to his death, total disability or resignation), the Company
is obligated to pay Mr. Madden, in installments, the balance of his base salary that would have been paid by the Company under
the agreement for the full term of the agreement. If, during the period commencing 120 days prior to a &ldquo;change of control&rdquo;
(as defined in the employment agreement) transaction and ending on the first anniversary of a change of control transaction, Mr.
Madden&rsquo;s employment is terminated by the Company other than for cause or by the resignation of Mr. Madden for &ldquo;good
reason&rdquo; (as defined in the employment agreement), or if Mr. Madden resigns for good reason or without good reason within
30 days following a change of control transaction, all unvested options to purchase shares of Common Stock held by Mr. Madden
will vest on the date of termination or resignation and Mr. Madden will be entitled to receive a lump sum cash payment equal to
the amount of compensation that is accrued and unpaid through the date of termination plus $35 million. Mr. Madden&rsquo;s employment
agreement contains other customary provisions, including provisions regarding expense reimbursement, confidentiality, solicitation
and competition.</FONT></P>

<!-- Field: Page; Sequence: 18; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">For
the 2012 Fiscal Year, Mr. Madden earned $5,416,667 in base salary and received $200,000 for the payment of an annual life insurance
premium. As an Annual Option, on June 4, 2012, Mr. Madden was granted an option to purchase 100,000 restricted shares of Common
Stock, under the 2006 Plan having an exercise price of $38.99 per share. The option vests in equal installments of 25,000 shares
on each of August 25, 2012, November 25, 2012, February 25, 2013 and May 25, 2013.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black"><I>Loan
to Steven Madden. </I>On June 25, 2007, the Company made a loan to Steven Madden, its Creative and Design Chief and a principal
stockholder of the Company, in the amount of $3,000,000, in order for Mr. Madden to satisfy a personal tax obligation resulting
from the exercise of a stock option which was due to expire and to hold the underlying shares of Common Stock. Mr. Madden executed
a promissory note in favor of the Company, which is secured by a pledge of 315,000 shares of the Company&rsquo;s Common Stock
beneficially owned by Mr. Madden. There have been successive amendments to the note, the most recent of which occurred on January
3, 2012, at which time the note was amended and restated to extend the maturity date of the obligation to December 31, 2023 and
eliminate the accrual of interest after December 31, 2011. Prior to the most recent amendment, the note had been accruing interest
at the rate of 6% per annum. </FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In addition, the amended and restated
note provides that, commencing on December 31, 2014 and annually on each December 31 thereafter through the maturity date, one-tenth
of the principal amount thereof, together with accrued interest, will be cancelled by the Company provided that Mr. Madden continues
to be employed by the Company on each such December 31. <FONT STYLE="color: black">Contemporaneously, the Company will release
a number of pledged shares of Common Stock from the pledge generally correlating to the amount of indebtedness cancelled on such
date. As of December 31, 2011, interest in the amount of $1,090,000 had accrued on the principal amount of the note and, as noted
above, interest was eliminated after December 31, 2011.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Steven
Madden is the brother of John L. Madden, who has been a director of the Company since 1993.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa016_v1"></A>Review, Approval or Ratification of Transactions with Related Persons</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company&rsquo;s written Conduct Code and Employee Handbook prohibit all conflicts of interest. Under the Conduct Code, conflicts
of interest occur when private or family interests interfere in any way, or even appear to interfere, with the interests of the
Company. The Company&rsquo;s prohibition on conflicts of interest under the Conduct Code includes any related person transaction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Related
person transactions must be approved by the Board, or by a committee of the Board consisting solely of independent directors,
who will approve the transaction only if they determine that it is in the best interests of the Company. In considering the transaction,
the Board or committee will consider all relevant factors, including, as applicable, (i) the Company&rsquo;s business rationale
for entering into the transaction; (ii) the alternatives to entering into a related person transaction; (iii) whether the transaction
is on terms comparable to those available to third parties or, in the case of employment relationships, to employees generally;
(iv) the potential for the transaction to lead to an actual or apparent conflict of interest and any safeguards imposed to prevent
such actual or apparent conflicts; and (v) the overall fairness of the transaction to the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company has multiple processes for reporting conflicts of interests, including related person transactions. Under the Conduct
Code, all employees are required to report any actual or apparent conflict of interest, or potential conflict of interest, to
management. The Chief Financial Officer distributes a questionnaire to the Company&rsquo;s executive officers and management personnel
on a quarterly basis and distributes a questionnaire to the members of the Board of Directors on an annual basis requesting certain
information regarding, among other things, their immediate family members, employment and beneficial ownership interests, which
information is then reviewed for any conflicts of interest under the Conduct Code.</FONT></P>

<!-- Field: Page; Sequence: 19; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Board of Directors, the Audit Committee and the Disclosure Committee, which is comprised of management personnel, discuss the
related party transactions, specifically, and in connection with the regular review processes attendant to the Company&rsquo;s
periodic filings, including related party transaction disclosures.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
a director is a party to or in some manner involved in a transaction involving the Company, he will be recused from all discussions
and decisions about the transaction. The transaction must be approved in advance whenever practicable, and if not practicable,
must be ratified as promptly as practicable.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa017_v1"></A>COMPENSATION OF DIRECTORS IN THE 2012 FISCAL YEAR</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
following table sets forth information concerning the compensation of the Company&rsquo;s non-employee directors in the 2012 Fiscal
Year. Following the table is a discussion of material factors related to the information disclosed in the table.&#9;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>



<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black">Name</FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black">Fees</FONT><FONT STYLE="font-size: 10pt"><BR>
    <FONT STYLE="color: black">Earned or</FONT><BR>
    <FONT STYLE="color: black">Paid in</FONT><BR>
    <FONT STYLE="color: black">Cash</FONT><BR>
    <FONT STYLE="color: black">($)</FONT></FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black">Stock</FONT><FONT STYLE="font-size: 10pt"><BR>
    <FONT STYLE="color: black">Awards</FONT><BR>
    <FONT STYLE="color: black">($)(1)</FONT></FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black">All Other</FONT><FONT STYLE="font-size: 10pt"><BR>
    <FONT STYLE="color: black">Compensation</FONT><BR>
    <FONT STYLE="color: black">($)</FONT></FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black">Total</FONT><FONT STYLE="font-size: 10pt"><BR>
    <FONT STYLE="color: black">($)</FONT></FONT></TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="width: 37%; padding-left: 8.8pt; text-indent: -8.8pt"><FONT STYLE="font-size: 10pt; color: black">John L. Madden</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="width: 3%; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt; color: black">0</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">1,511,126</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt; color: black">(2)</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 11%; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 10pt">1,511,126</FONT></TD>
    <TD STYLE="width: 3%; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.8pt; text-indent: -8.8pt"><FONT STYLE="font-size: 10pt; color: black">Peter Migliorini</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 10pt">110,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 10pt">87,395</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; color: black">&nbsp;(3)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: black">0</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 10pt">197,395</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.8pt; text-indent: -8.8pt"><FONT STYLE="font-size: 10pt; color: black">Richard P. Randall</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 10pt">110,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 10pt">87,395</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; color: black">&nbsp;(4)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: black">0</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 10pt">197,395</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.8pt; text-indent: -8.8pt"><FONT STYLE="font-size: 10pt; color: black">Ravi Sachdev</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 10pt">85,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 10pt">87,395</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; color: black">&nbsp;(5)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: black">0</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 10pt">172,395</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.8pt; text-indent: -8.8pt"><FONT STYLE="font-size: 10pt; color: black">Thomas H. Schwartz</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 10pt">85,000</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 10pt">87,395</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; color: black">&nbsp;(6)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: black">0</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 10pt">172,395</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1)
Reflects the grant date fair value of stock awards calculated in accordance with the Financial Accounting Standards Board (&ldquo;FASB&rdquo;)
Accounting Standards Codification (&ldquo;ASC&rdquo;) Topic 718. The amounts shown represent dollar amounts recognized in the
2012 Fiscal Year for financial statement reporting purposes under ASC Topic 718. The number of shares of Common Stock was calculated
based on the fair value of the Company&rsquo;s Common Stock on the grant date, June 6, 2012, by taking the closing sale price
for a share of Common Stock on the Nasdaq for such grant date. There are no other assumptions made in the valuation of the stock
awards.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2)
Includes: (a) the use of a corporate apartment valued at $63,856 and (b) $1,447,270 in fees, travel and health insurance premium
allowance paid to JLM Consultants, Inc., a company wholly-owned by Mr. John Madden, as consideration for consulting services provided
by JLM Consultants, Inc. with respect to the development of the Company&rsquo;s international business.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3)
At December 31, 2012, the aggregate number of shares of restricted Common Stock held was 2,250, and Mr. Migliorini had no options
outstanding.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(4)
At December 31, 2012, the aggregate number of shares of restricted Common Stock held was 2,250, and Mr. Randall had no options
outstanding.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(5)
At December 31, 2012, the aggregate number of shares of restricted Common Stock held was 2,250, and Mr. Sachdev had no options
outstanding.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(6)
At December 31, 2012, the aggregate number of shares of restricted Common Stock held was 2,250, and Mr. Schwartz had no options
outstanding.</FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Directors
who are also employees of the Company are not paid any fees or other remuneration for service on the Board of Directors or any
of its committees. In the 2012 Fiscal Year, each non-employee director, other than John L. Madden, received the following compensation:
(i) a grant of 2,250 shares of restricted Common Stock, vesting on the first anniversary of the grant date, June 6, 2013 and (ii)
$75,000. John L. Madden, who is a non-independent director as a result of his ownership of JLM Consultants, Inc., a provider of
consulting services to the Company with respect to international sales, is not paid a fee for his service on the Board of Directors.</FONT></P>

<!-- Field: Page; Sequence: 20; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
the 2012 Fiscal Year, members of the Audit Committee, Nominating/Corporate Governance Committee and Compensation Committee each
received an additional $10,000 for serving on such committees, except that the Audit Committee financial expert and the Chairman
of the Compensation Committee each received $35,000. The Company reimburses its directors for any out-of-pocket expenses incurred
by them in connection with services provided in such capacity.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa018_v1"></A>STOCK OWNERSHIP</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa019_v1"></A>Security Ownership of Certain Beneficial Owners</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
following table sets forth information as of the Record Date (unless otherwise indicated) with respect to the beneficial ownership
of the Common Stock of the Company by each person known by the Company to be the beneficial owner of more than 5% of the outstanding
shares of the Common Stock of the Company. A person is deemed to be a beneficial owner of any securities which that person has
the right to acquire within 60 days.</FONT></P>



<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 64%; padding-left: 8.8pt; text-indent: -8.8pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 8.8pt; font-size: 10pt; text-indent: -8.8pt"><FONT STYLE="font-size: 10pt; color: black">Name
    and Address of Beneficial Owner</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Amount
    and Nature</FONT><FONT STYLE="font-size: 10pt"><BR>
    <FONT STYLE="color: black">of Beneficial</FONT><BR>
    <FONT STYLE="color: black">Ownership (1)</FONT></FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Percentage
    of Class</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.65pt; font-size: 10pt; text-indent: -8.65pt"><FONT STYLE="font-size: 10pt; color: black">Steven
    Madden</FONT><FONT STYLE="font-size: 10pt"><BR>
    <FONT STYLE="color: black">c/o Steven Madden, Ltd.</FONT><BR>
    <FONT STYLE="color: black">52-16 Barnett Avenue</FONT><BR>
    <FONT STYLE="color: black">Long Island City, NY 11104</FONT></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">5,161,527</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">[10.96</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; color: black">]%</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; color: black">(2)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.65pt; font-size: 10pt; text-indent: -8.65pt"><FONT STYLE="font-size: 10pt; color: black">BOCAP
    Corp.</FONT><FONT STYLE="font-size: 10pt"><BR>
    <FONT STYLE="color: black">c/o Steven Madden, Ltd.</FONT><BR>
    <FONT STYLE="color: black">52-16 Barnett Avenue</FONT><BR>
    <FONT STYLE="color: black">Long Island City, NY 11104</FONT></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">1,705,375</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">[3.67]</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; color: black">%</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; color: black">(3)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.65pt; font-size: 10pt; text-indent: -8.65pt"><FONT STYLE="font-size: 10pt; color: black">FMR LLC</FONT><FONT STYLE="font-size: 10pt"><BR>
    <FONT STYLE="color: black">82 Devonshire Street</FONT><BR>
    <FONT STYLE="color: black">Boston, Massachusetts 02109</FONT></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">4,582,091</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">[9.86]</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; color: black">%</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; color: black">(4)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.65pt; font-size: 10pt; text-indent: -8.65pt"><FONT STYLE="font-size: 10pt; color: black">BlackRock
    Inc.</FONT><FONT STYLE="font-size: 10pt"><BR>
    <FONT STYLE="color: black">40 East 52<SUP>nd</SUP> Street</FONT><BR>
    <FONT STYLE="color: black">New York, NY 10022</FONT></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">2,975,754</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">[6.40]</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; color: black">%</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; color: black">(5)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.65pt; font-size: 10pt; text-indent: -8.65pt"><FONT STYLE="font-size: 10pt; color: black">The Vanguard
    Group</FONT><FONT STYLE="font-size: 10pt"><BR>
    <FONT STYLE="color: black">100 Vanguard Boulevard</FONT><BR>
    <FONT STYLE="color: black">Malvern, Pennsylvania 19355</FONT></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">2,453,179</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt; color: black">[5.28]</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; color: black">%</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; color: black">(6)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>





<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1)
Beneficial ownership as reported in the table below has been determined in accordance with Item 403 of Regulation S-K and Rule
13d-3 of the Exchange Act and based upon<B> </B>[46,475,175] shares of Common Stock outstanding (excluding treasury shares) as
of the Record Date.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">(2)
Mr. Madden&rsquo;s beneficial ownership includes: (i) 1,705,375 shares of Common Stock held by BOCAP Corp, a corporation wholly-owned
by Mr. Madden; (ii) 587,502 shares of Common Stock that may be acquired through options that are exercisable as of, or will become
exercisable within 60 days of, the Record Date; (iii) 2,237,599 shares of restricted Common Stock </FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">granted
under the 2006 Plan (which restricted stock includes 975,371 shares which will vest in equal annual installments over seven years
commencing on December 31, 2017 through December 31, 2023 and 1,262,228 shares which will vest in equal annual installments over
six years commencing on December 31, 2018 through December 31, 2023, in each case subject to forfeiture pursuant to the terms
of the 2006 Plan and of Mr. Madden&rsquo;s employment agreement); <FONT STYLE="color: black">and (iv) 631,051 shares of Common
Stock held by Mr. Madden directly. Mr. Madden has pledged to the Company 315,000 shares of Common Stock beneficially owned by
him to secure the repayment of a loan made by the Company to Mr. Madden, which loan is discussed in the section of this Proxy
Statement captioned &ldquo;Certain Relationships and Related Party Transactions.&rdquo; Excluded are (i) 562,150 shares of Common
Stock beneficially owned by the Steven H. Madden July 2010 Grantor Retained Annuity Trust, a grantor retained annuity trust, the
trustee of which is unrelated to Mr. Madden and as to which Mr. Madden does not, directly or indirectly, have or share voting
or investment power and (ii) 227,477 shares of Common Stock beneficially owned by the Steven H. Madden 2012 Trust, an irrevocable
trust established by Mr. Madden for the benefit of his descendants, the trustee of which is unrelated to Mr. Madden and as to
which Mr. Madden does not, directly or indirectly, have or share voting or investment power; Mr. Madden disclaims beneficial ownership
of the shares of Common Stock beneficially owned by these trusts.</FONT></FONT></P>

<!-- Field: Page; Sequence: 21; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3)
BOCAP Corp is a corporation wholly-owned by Steven Madden.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(4)
<FONT STYLE="color: black">Based solely on a Statement on Schedule 13G filed with the SEC on February 14, 2013 by FMR LLC (&ldquo;FMR&rdquo;),
FMR has shared voting power with respect to all but 569,439 of such shares and sole dispositive power with respect to all such
shares.</FONT></FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(5)
<FONT STYLE="color: black">Based solely on a Statement on Schedule 13G filed with the SEC on February 5, 2013 by BlackRock, Inc.
(&ldquo;BlackRock&rdquo;), BlackRock has sole voting and dispositive power with respect to all such shares.</FONT></FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(6)
<FONT STYLE="color: black">Based solely on a Statement on Schedule 13G filed with the SEC on February 11, 2013 by The Vanguard
Group (&ldquo;Vanguard&rdquo;), Vanguard has sole voting power with respect to 56,165 of such shares, sole dispositive power with
respect to 2,399,014 of such shares and shared dispositive power with respect to 54,165 of such shares.</FONT></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa020_v1"></A>Security Ownership of Directors and Executive Officers</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
following table sets forth information as of the Record Date (unless otherwise indicated) with respect to the beneficial ownership
of Common Stock held by (a) each current director and nominee; (b) the Chief Executive Officer, the Chief Financial Officer and
the three most highly compensated executive officers of the Company other than the Chief Executive Officer and the Chief Financial
Officer (the &ldquo;Named Executive Officers&rdquo;); and (c) all current directors and executive officers as a group. A person
is deemed to be a beneficial owner of any securities which that person has the right to acquire within 60 days. Each director
and executive officer has sole voting power and sole dispositive power with respect to all shares beneficially owned by him or
her.</FONT></P>



<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 64%; padding-left: 8.8pt; text-indent: -8.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 6%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 8.8pt; font-size: 10pt; text-indent: -8.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Name
    of Beneficial Owner (1)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Amount
    and Nature</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><BR>
    <FONT STYLE="color: black">of Beneficial</FONT><BR>
    <FONT STYLE="color: black">Ownership (2)</FONT></FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Percentage
    of Class</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.8pt; font-size: 10pt; text-indent: -8.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Edward
    R. Rosenfeld</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">551,375</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">[1.18]</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">%</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">(3)</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.8pt; font-size: 10pt; text-indent: -8.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Arvind
    Dharia</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">118,403</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">*</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">%</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">(4)</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.8pt; font-size: 10pt; text-indent: -8.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Awadhesh
    Sinha</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">42,500</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">*</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">%</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">(5)</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.8pt; font-size: 10pt; text-indent: -8.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Robert
    Schmertz</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">278,522</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">*</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">%</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">(6)</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.8pt; font-size: 10pt; text-indent: -8.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Amelia
    Newton Varela</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">168,664</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">*</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">%</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">(7)</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.8pt; font-size: 10pt; text-indent: -8.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">John
    L. Madden</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">50,945</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">*</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">%</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">(8)</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.8pt; font-size: 10pt; text-indent: -8.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Peter
    Migliorini</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">2,250</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">*</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">%</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">(9)</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.8pt; font-size: 10pt; text-indent: -8.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Richard
    P. Randall</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">16,125</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">*</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">%</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">(10)</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.8pt; font-size: 10pt; text-indent: -8.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Thomas
    H. Schwartz</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">14,400</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">*</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">%</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">(11)</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.8pt; font-size: 10pt; text-indent: -8.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Ravi
    Sachdev</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">14,625</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">*</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">%</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">(12)</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.8pt; font-size: 10pt; text-indent: -8.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">All
    Directors and Executive Officers as a Group</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><BR>
    <FONT STYLE="color: black">&nbsp;(10 persons named above)</FONT></FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">1,257,809</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">[2.68]</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">%</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">(13)</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>*
</B>Indicates beneficial ownership of less than 1%.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1)
The address for each of the named individuals below is c/o Steven Madden, Ltd., 52-16 Barnett Avenue, Long Island City, New York
11104.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2)
Beneficial ownership as reported in the table above has been determined in accordance with Item 403 of Regulation S-K and Rule
13d-3 of the Exchange Act and based upon [46,475,175] shares of Common Stock outstanding (excluding treasury shares) as of the
Record Date.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3)
Mr. Rosenfeld&rsquo;s beneficial ownership includes: (i) 285,000 shares of Common Stock that may be acquired through the exercise
of options that are exercisable as of, or will become exercisable within 60 days of, the Record Date; (ii) 196,000 shares of restricted
Common Stock; and (iii) 70,375 shares of Common Stock held by Mr. Rosenfeld.</FONT></P>

<!-- Field: Page; Sequence: 22; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(4)
Mr. Dharia&rsquo;s beneficial ownership includes: (i) 40,000 shares of Common Stock that may be acquired through the exercise
of options that are exercisable as of, or will become exercisable within 60 days of, the Record Date; (ii) 25,367 shares of restricted
Common Stock; and (iii) 53,036 shares of Common Stock held by Mr. Dharia.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(5)
Mr. Sinha&rsquo;s beneficial ownership includes: (i) 23,500 shares of restricted Common Stock; and (ii) 19,000 shares of Common
Stock held by Mr. Sinha.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(6)
Mr. Schmertz&rsquo;s beneficial ownership includes: (i) 42,187 shares of Common Stock that may be acquired through the exercise
of options that are exercisable as of, or will become exercisable within 60 days of, the Record Date; (ii) 33,336 shares of restricted
Common Stock; and (iii) 202,999 shares of Common Stock held by Mr. Schmertz.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(7)
Ms. Varela&rsquo;s beneficial ownership includes: (i) 147,191 shares of Common Stock that may be acquired through the exercise
of options that are exercisable as of, or will become exercisable within 60 days of, the Record Date; (ii) 19,179 shares of restricted
Common Stock; and (iii) 2,294 shares of Common Stock held by Ms. Varela.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(8)
Mr. Madden&rsquo;s beneficial ownership includes: (1) 44,007 shares of restricted Common stock held by JLM Consultants, Inc.,
a corporation wholly-owned by Mr. Madden; (ii) 4,001 shares of Common Stock held by JLM Consultants, Inc.; and (iii) 2,937 shares
of Common Stock held by Mr. Madden.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(9)
Mr. Migliorini&rsquo;s beneficial ownership consists of 2,250 shares of restricted Common Stock.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(10)
Mr. Randall&rsquo;s beneficial ownership includes: (i) 2,250 shares of restricted Common Stock; and (ii) 13,875 shares of Common
Stock held by Mr. Randall, all of which shares have been pledged by Mr. Randall as collateral security in a margin brokerage account.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(11)
Mr. Schwartz&rsquo;s beneficial ownership includes: (i) 2,250 shares of restricted Common Stock; and (ii) 12,150 shares of Common
Stock held by Mr. Schwartz.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(12)
Mr. Sachdev&rsquo;s beneficial ownership includes: (i) 2,250 shares of restricted Common Stock; and (ii) 12,375 shares of Common
Stock held by Mr. Sachdev.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(13) Includes,
in the aggregate, 514,378 shares of Common Stock that may be acquired through the exercise of options that are exercisable as
of, or will become exercisable within 60 days of, the Record Date; (ii) 350,389 shares of restricted Common Stock; and (iii) 393,042
shares of Common Stock held by such beneficial owners.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa021_v1"></A>Section 16(a) Beneficial Ownership Reporting Compliance</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Section
16(a) of the Exchange Act requires that the Company&rsquo;s directors and officers, and persons who beneficially own more than
10% of a registered class of the Company&rsquo;s equity securities, file with the SEC reports of initial ownership of Common Stock
and subsequent changes in that ownership and furnish the Company with copies of all forms they file with the SEC pursuant to Section
16(a) of the Exchange Act. Late reports were filed on March 28, 2012 to report the March 14, 2012 grants of 20,000, 7,500 and
11,473 restricted shares of Common Stock, respectively, to Edward R. Rosenfeld, Awadhesh Sinha and Amelia Newton Varela. A late
report was filed on April 6, 2012 to report an April 2, 2012 grant of 5,000 restricted shares of Common Stock to Arvind Dharia.
A late report was filed on March 7, 2013 to report a May 22, 2009 grant of 1,687 (initially 750 shares, adjusted for </FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">three-for-two
stock splits (effected as a stock dividend) that occurred on April 30, 2010 and May 31, 2011) <FONT STYLE="color: black">restricted
shares of Common Stock to John L. Madden. A late report was filed on March 13, 2013 to report a December 19, 2012 gift of 227,477
shares of Common Stock by Steven Madden to the Steven H. Madden 2012 Trust. To the Company&rsquo;s knowledge, based solely on
a review of the copies of the reports furnished to the Company or written representations received from the Company&rsquo;s directors,
officers and greater than 10% beneficial owners that no other reports were required, all Section 16(a) filing requirements applicable
to its officers, directors and greater than 10% beneficial owners were complied with during, or in respect of, the 2012 Fiscal
Year.</FONT></FONT></P>


<!-- Field: Page; Sequence: 23; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa022_v1"></A>EXECUTIVE COMPENSATION</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa023_v1"></A>Compensation Discussion and Analysis</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Compensation
Objectives and Strategy</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company&rsquo;s executive officer compensation program is designed to attract and retain the caliber of officers needed to ensure
the Company&rsquo;s continued growth and profitability and to reward them for their performance, for the Company&rsquo;s performance
and for creating longer-term value for our stockholders. The primary objectives of the program are to:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">align
                                                                                                                                   rewards
                                                                                                                                   with
                                                                                                                                   performance
                                                                                                                                   that
                                                                                                                                   creates
                                                                                                                                   stockholder
                                                                                                                                   value;</FONT></TD></TR>                                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">support
                                                                                                                                   the
                                                                                                                                   Company&#8217;s
                                                                                                                                   strong
                                                                                                                                   team
                                                                                                                                   orientation;</FONT></TD></TR>                                                                                                                                                                <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">encourage
                                                                                                                                   high-potential
                                                                                                                                   team
                                                                                                                                   players
                                                                                                                                   to
                                                                                                                                   build
                                                                                                                                   a
                                                                                                                                   career
                                                                                                                                   at
                                                                                                                                   the
                                                                                                                                   Company;
                                                                                                                                   and</FONT></TD></TR>                                                                                                                                                       <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt;"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">provide
                                                                                                                                   rewards
                                                                                                                                   that
                                                                                                                                   are
                                                                                                                                   cost-efficient,
                                                                                                                                   competitive
                                                                                                                                   with
                                                                                                                                   other
                                                                                                                                   similarly-positioned
                                                                                                                                   organizations
                                                                                                                                   and
                                                                                                                                   fair
                                                                                                                                   to
                                                                                                                                   employees
                                                                                                                                   and
                                                                                                                                   stockholders.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company&rsquo;s executive compensation programs are approved and administered by the Compensation Committee of the Board of Directors.
Working with management and outside advisors, the Compensation Committee has developed a compensation and benefits strategy that
rewards performance and reinforces a culture that the Compensation Committee believes will drive long-term success.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
compensation program rewards team accomplishments while promoting individual accountability. The executive officer compensation
program depends in significant measure on Company results, but business unit results and individual accomplishments are also very
important factors in determining each executive&rsquo;s compensation. The Company has a robust planning and goal-setting process
that is fully integrated into the compensation system, enhancing a strong relationship among individual efforts, Company results
and financial rewards.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A
major portion of total compensation is placed at risk through annual and long-term incentives. As noted below, discretionary bonuses
were paid to the Named Executive Officers. The combination of incentives is designed to balance annual operating objectives and
Company earnings performance with longer-term stockholder value creation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">To
implement its primary objectives, the Company seeks to provide competitive compensation that is commensurate with performance.
The Company targets compensation at the median of the market and calibrates both annual and long-term incentive opportunities
to generate less-than-median awards when goals are not fully achieved and greater-than-median awards when goals are exceeded.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company believes that there is great value to the Company in having a team of long-tenured, seasoned managers and seeks to promote
a long-term commitment from its senior executives. The Company&rsquo;s team-focused culture and management processes are designed
to foster this commitment. In addition, restricted Common Stock awards granted to Named Executive Officers in the 2012 Fiscal
Year reinforce this long-term orientation with annual vesting over a five-year period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Role
of the Compensation Committee</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>General.
</I>The Compensation Committee provides overall guidance for the Company&rsquo;s executive compensation policies and determines
the amounts and elements of compensation for the Company&rsquo;s executive officers and outside directors. The Compensation Committee
currently consists of two members of the Company&rsquo;s Board of Directors, Messrs. Peter Migliorini and Thomas Schwartz, each
of whom is an independent director under Rule 5605 of The Nasdaq Global Select Market listing standards, a &ldquo;non-employee
director&rdquo; as defined under the SEC&rsquo;s rules and an &ldquo;outside director&rdquo; as defined under Section 162(m) of
the Internal Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">When
considering decisions concerning the compensation of executives, other than the Chief Executive Officer, the Compensation Committee
asks for the recommendations of the Chief Executive Officer, including his detailed evaluation of each executive&rsquo;s performance.
No executive has a role in recommending compensation for outside directors. With respect to the application of the 2006 Plan to
non-employee directors, the Board of Directors functions as the Compensation Committee.</FONT></P>

<!-- Field: Page; Sequence: 24; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Use
of Outside Advisors. </I>In making its determinations with respect to executive compensation, the Compensation Committee has historically
engaged the services of an independent compensation consulting firm. The Compensation Committee has retained the services of James
F. Reda &amp; Associates, LLC (&ldquo;Reda &amp; Associates&rdquo;) since 2005 to assist with its review of the compensation packages
and employment agreements of the Chief Executive Officer and other executive officers. In 2012, Reda &amp; Associates worked with
the Compensation Committee to assess the reasonableness of discretionary cash bonus payments and equity grants to Messrs. Rosenfeld,
Dharia, Sinha and Schmertz and Ms. Varela based on the Company&rsquo;s and the individual&rsquo;s performance in the 2011 Fiscal
Year and the reasonableness of the terms of new employment agreements for Messrs. Rosenfeld and Schmertz and an amendment of Mr.
Dharia&rsquo;s employment agreement as compared with comparable positions in the peer group listed below. Executive compensation
for the other Named Executive Officers was based on prior employment agreements with pay structures and levels guided by Reda
&amp; Associates&rsquo; market studies just prior to the consummation of the agreements. Position-specific market studies were
completed at the time of the employment agreement extension in support of the design of these agreements. The Compensation Committee
also consulted Reda &amp; Associates with respect to the establishment of a performance-based cash bonus pool based on a percentage
of the Company&rsquo;s net income in the 2012 Fiscal Year. Reda &amp; Associates provides only executive compensation consulting
services and works with management only at the behest of the Compensation Committee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Compensation Committee retains Reda &amp; Associates directly, although in carrying out assignments, Reda &amp; Associates also
interacts with Company management, when necessary and appropriate, in order to obtain compensation and performance data for the
executives and the Company. In addition, Reda &amp; Associates may, in its discretion, seek input and feedback from management
regarding its consulting work product prior to presentation to the Compensation Committee in order to confirm alignment with the
Company&rsquo;s business strategy and identify data questions or other similar issues, if any, prior to presentation to the Compensation
Committee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Compensation Committee has the sole authority to retain, terminate and set the terms of the Company&rsquo;s relationship with
any outside advisors who assist the Committee in carrying out its responsibilities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black"><I>Consideration
of</I> <I>2012 Stockholder</I> <I>Say on Pay Vote. </I></FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">At our 2012
Annual Meeting of Stockholders, our stockholders overwhelmingly approved, on an advisory basis, the compensation of our Named
Executive Officers (96% of votes cast). The Compensation Committee believes this level of stockholder support reflects a very
strong endorsement of our compensation policies and decisions. The Compensation Committee has considered the results of this advisory
vote on executive compensation in determining the Company&rsquo;s compensation policies and decisions for 2013, and has determined
that these policies and decisions are appropriate and in the best interests of the Company and its stockholders at this time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Compensation
Structure</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Pay
Elements - Overview</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company utilizes four main components of compensation:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR>
    <TD STYLE="vertical-align: top; width: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 0.25in; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">&#9679;&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">base
    salary;</FONT></TD>
    <TD STYLE="width: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">&#9679;&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">annual
    performance-based cash bonuses;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">&#9679;&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">long-term
    equity incentives (consisting of stock options and/or restricted stock); and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">&#9679;&#9;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">benefits
    and perquisites.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Pay
Elements - Details</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Base
Salary</I>. The Company paid base salaries to each of the Named Executive Officers to provide them with fixed pay commensurate
with the Named Executive Officer&rsquo;s role and responsibilities, experience, expertise and individual performance. As more
fully described in the section of this Proxy Statement captioned &ldquo;Employment Arrangements,&rdquo; as of December 31, 2012,
the Company had employment agreements with each of the Named Executive Officers. The Compensation Committee, as constituted at
the time the parties entered into the employment agreements or any amendments thereof, reviewed and approved the salary established
in each such agreement or amendment. The Compensation Committee considered each employee&rsquo;s salary history, value in the
marketplace and performance (including at the Company and previous employment).</FONT></P>

<!-- Field: Page; Sequence: 25; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
annual base salary of our Chief Executive Officer, Mr. Rosenfeld, was fixed at $551,250 for the 2012 Fiscal Year under an employment
agreement that expired on December 31, 2012. The expired employment agreement was replaced with a new agreement dated December
31, 2012, which remains in effect until December 31, 2015 and provides for an annual base salary of $578,813, $607,754 and $638,142
for the fiscal years ending December 31, 2013, 2014 and 2015, respectively. The employment agreement of our Chief Operating Officer,
Mr. Sinha, provides for an annual base salary of $575,000 for the 2012 Fiscal Year and throughout the term of the agreement, which
will expire on December 31, 2013. Under the employment agreement, as amended, of our Chief Financial Officer, Mr. Dharia&rsquo;s
annual base salary for the 2012 Fiscal Year was and will remain at $554,719 until the agreement expires on December 31, 2014.
The annual base salary of our Brand Director, Mr. Schmertz, was fixed at $660,000 for the 2012 Fiscal Year under an employment
agreement that expired on December 31, 2012. The expired agreement was replaced with a new agreement dated January 2, 2013 under
which Mr. Schmertz will be paid an annual base salary of $725,000 in 2013 and 2014 until the employment agreement expires on December
31, 2014. The annual base salary of our Executive Vice President - Wholesale, Ms. Varela, was fixed at $450,000 for the 2012 Fiscal
Year and for the remainder of the term of an employment agreement, which will expire on December 31, 2013. Please see the section
of this Proxy Statement captioned &ldquo;Summary Compensation Table&rdquo; and &ldquo;Employment Arrangements&rdquo; for a more
detailed description of their employment agreement and compensation. Salary increases for Named Executive Officers are generally
consistent with those of other management employees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Annual
Performance-based Cash Bonus - Based on Specific Performance Metrics</I>. Annual performance-based cash bonuses, if any, for Named
Executive Officers are established in their respective employment agreements. The Compensation Committee reviewed and approved
the bonus provisions fixed in each such employment agreement at the time the parties entered into such agreements and any amendments
thereof. Such bonus provisions generally provide for variable or discretionary bonuses designed to reward attainment of business
goals.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Under
Ms. Varela&rsquo;s employment agreement, she is entitled to an annual performance-based cash bonus for each fiscal year in an
amount equal to 2% of the increase, if any, in Wholesale Division EBIT for that year over Wholesale Division EBIT for the immediately
prior year, excluding from such bonus calculation EBIT attributable to any business acquired after January 31, 2011 until the
acquired business has been owned by the Company for two full calendar years. For the 2012 Fiscal Year, Ms. Varela&rsquo;s annual
performance-based cash bonus was $216,999, reflecting 2% of $10,849,955, the increase in 2012 Wholesale Division EBIT (exclusive
of EBIT attributable to businesses acquired in the period beginning on February 1, 2011 and ending on December 31, 2012) over
that of 2011.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">As
provided in the 2006 Plan, the maximum payment that may be made to an individual under any performance-based cash award during
any fiscal year and subject to the attainment of specified performance goals is $10,000,000. The Compensation Committee may, in
it sole discretion, elect to pay an individual an amount that is less than the individual&rsquo;s target award regardless of the
degree of attainment of the performance goals.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Beginning
in 2012, the Compensation Committee established a bonus pool for Named Executive Officers and other key executives of the Company
based on 6% of net income of the Company achieved in the 2012 Fiscal Year intended to comply with the provisions of Section 162(m)
of the Code. Net income was selected because it is highly correlated with stock price performance. The Compensation Committee
also fixed for each executive his or her maximum share of the 2012 bonus pool, which was 30% for Mr. Rosenfeld and 14% for each
of the other Named Executive Officers. In the 2012 Fiscal Year, the Company achieved net income of $119,626,000, which resulted
in a bonus pool of $7,176,560. The Compensation Committee determined to pay to the Named Executive Officers bonuses that were
significantly below their individual target awards for the 2012 Fiscal Year and to pay the bonuses in a combination of cash and
restricted shares of Common Stock. Accordingly, on March 15, 2013, the Company paid performance-based cash bonuses of $250,000
to each of Messrs. Rosenfeld, Dharia, and Sinha and $100,000 to Mr. Schmertz and, on March 15, 2013, granted 20,000, 11,043 and
10,000 restricted shares of Common Stock to Mr. Rosenfeld, Mr. Schmertz and Ms. Varela, respectively, for performance in the 2012
Fiscal Year each of which restricted stock awards vests in five equal annual installments. Ms. Varela did not receive a cash bonus
based on the net income of the Company in the 2012 Fiscal Year. In accordance with applicable SEC rules, the Summary Compensation
Table included in this Proxy Statement contains these cash bonuses but does not report the grant date fair value of these restricted
stock awards because, while earned in 2012, the grants were not made until after the close of the 2012 Fiscal Year. The 2013 Summary
Compensation Table to be included in our proxy statement for our 2014 Annual Meeting of Stockholders will contain the grant date
fair value of these restricted stock awards to Mr. Rosenfeld, Mr. Schmertz and Ms. Varela provided these individuals are named
executive officers in that proxy statement.</FONT></P>

<!-- Field: Page; Sequence: 26; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">The
decision to pay cash bonuses to Messrs. Rosenfeld, Dharia, Sinha and Schmertz and to award restricted shares of Common Stock to
Mr. Rosenfeld, Mr. Schmertz and Ms. Varela for the 2012 Fiscal Year and the amount of each such Named Executive Officer&rsquo;s
bonus was determined at the discretion of the Compensation Committee but within the parameters of the bonus pool for Named Executive
Officers. </FONT>The Compensation Committee evaluated a variety of indicators of the Company&rsquo;s overall financial performance,
including revenue growth and profitability, and assessed and made subjective judgments as to each of these executive&rsquo;s individual
contribution towards the Company&rsquo;s performance in the 2012 Fiscal Year in determining whether to pay bonuses to these executives
and establishing the amounts to be paid. With respect to the determination to award bonuses to Messrs. Dharia, Sinha and Schmertz
and Ms. Varela, the Compensation Committee also considered the recommendations of the Chief Executive Officer, Mr. Rosenfeld.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Compensation Committee consulted Reda &amp; Associates regarding the establishment of the bonus pool and the individual target
awards for the 2012 Fiscal Year to ensure the bonus pool and the individual target awards were within market range for each executive.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Long-term
Equity Incentives</I>. Management and the Compensation Committee believe that equity-based awards are an important factor in aligning
the long-term financial interest of the executive officers and stockholders. The Compensation Committee continually evaluates
the use of equity-based awards and intends to continue to use such awards in the future as part of designing and administering
the Company&rsquo;s compensation program. Beginning in 2006, the Compensation Committee modified its prior practice of granting
equity incentives solely in the form of stock options with periodic awards of restricted stock in order to grant awards that contain
both substantial incentive and retention characteristics. These awards are designed to provide emphasis on preserving stockholder
value generated in recent years while providing significant incentives for continuing growth in stockholder value.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
March and April 2012, the Company made grants of 20,000, 7,500, 11,473 and 5,000 restricted shares of Common Stock to Mr. Rosenfeld,
Mr. Sinha, Ms. Varela and Mr. Dharia, respectively, for performance in the 2011 Fiscal Year, each of which restricted stock awards
vests in five equal annual installments. Mr. Dharia also received a restricted stock award of 10,000 shares of Common Stock, which
vests in three substantially equal annual installments, in connection with the extension and amendment of his employment agreement,
the terms of which were approved by the Compensation Committee. Reda &amp; Associates reviewed the individual grant values relative
to market practice. All of the equity awards in the 2012 Fiscal Year were made under the 2006 Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Committee intends to continue to review the equity mix to achieve the ideal incentive for both performance and retention. With
respect to stock options, the 2006 Plan provides that the exercise price shall be the closing market price per share of the Company&rsquo;s
Common Stock on the business day immediately preceding the grant date, which is fair market value for purposes of the 2006 Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Other
Benefits and Perquisites</I>. The Company&rsquo;s executive compensation program also includes other benefits and perquisites.
These benefits and perquisites include annual matching contributions to executive officers&rsquo; 401(k) plan accounts, company-paid
medical benefits, automobile allowances and leased automobiles, and life insurance coverage. The Compensation Committee annually
reviews these other benefits and perquisites and makes adjustments as warranted based on competitive practices, the Company&rsquo;s
performance and the individual&rsquo;s responsibilities and performance. The Compensation Committee has approved these other benefits
and perquisites as a reasonable component of the Company&rsquo;s executive officer compensation program. Please see the section
of this Proxy Statement captioned &ldquo;Summary Compensation Table and, specifically, the column entitled &ldquo;All Other Compensation&rdquo;
and the corresponding footnotes.</FONT></P>

<!-- Field: Page; Sequence: 27; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Pay
Mix</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company utilizes the particular elements of compensation described above because the Company believes that it provides a well-proportioned
mix of secure compensation, retention value and at-risk compensation, which produces short-term and long-term performance incentives
and rewards. By following this approach, the Company provides the executives a measure of security in the minimum expected level
of compensation, while motivating the executives to focus on business metrics and other variables within their particular sector
which will increase sales and margins and at the same time lower costs so as to produce a high level of short-term and long-term
performance for the Company and long-term wealth creation for the executives, as well as reducing the risk of recruitment of top
executive talent by competitors. The mix of metrics used for the annual performance bonuses and the Company&rsquo;s long-term
incentive program likewise provides an appropriate balance between short-term financial performance and long-term stock performance.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">For
the Named Executive Officers, the mix of compensation is weighted heavily toward at-risk pay (annual incentives and long-term
incentives). Maintaining this pay mix results fundamentally in a pay-for-performance orientation for the Company&rsquo;s executives,
which is aligned with the Company&rsquo;s stated compensation philosophy of providing compensation commensurate with performance.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Pay
Levels and Benchmarking</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pay
levels for executives are determined based on a number of factors, including the individual&rsquo;s roles and responsibilities
within the Company, the individual&rsquo;s experience and expertise, the pay levels for peers within the Company, pay levels in
the marketplace for similar positions and performance of the individual and the Company as a whole. The Compensation Committee
is responsible for approving pay levels for the Named Executive Officers. In determining the pay levels, the Compensation Committee
considers all forms of compensation and benefits.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">The
Compensation Committee assesses &ldquo;competitive market&rdquo; compensation using a number of sources. The primary data source
used in setting competitive market levels for the Named Executive Officers is the information publicly disclosed by a peer group
of the Company, which will be reviewed annually and may change from year to year. </FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">For
the past three years, including the 2012 Fiscal Year, executive compensation and compensation design was reviewed in relation
to the following peer companies:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 95%; border-collapse: collapse; margin-left: 0.5in">
<TR>
    <TD STYLE="vertical-align: top; width: 37%; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">American
    Apparel Inc.</FONT></TD>
    <TD STYLE="vertical-align: top; width: 33%; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Perry
    Ellis International, Inc.</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 30%; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Movado
    Group, Inc.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Bebe
    Stores, Inc.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">G-III
    Apparel Group, Ltd.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Rocky
    Brands, Inc.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Brown
    Shoe Co. Inc.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Genesco,
    Inc.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Skechers
    U.S.A. Inc.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Kenneth
    Cole Productions Inc.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Guess,
    Inc.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Timberland
    Co.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Collective
    Brands, Inc.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Iconix
    Brand Group, Inc.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Under
    Armour, Inc.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Crocs,
    Inc.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">The
    Jones Group Inc.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Volcom,
    Inc.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Deckers&nbsp;&nbsp;Outdoor
    Corp.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">K-Swiss,
    Inc.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Weyco
    Group, Inc.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Delta
    Apparel, Inc.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 3.2pt; padding-left: 7.4pt; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Maidenform
    Brands, Inc.</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 3.2pt; padding-left: 0.1in; font-size: 10pt; text-indent: -7.4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black; letter-spacing: 0.3pt">Wolverine
    Worldwide</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">After
consideration of the data collected on external competitive levels of compensation and internal needs, the Compensation Committee
makes decisions regarding the Named Executive Officer&rsquo;s target total compensation opportunities based on the need to attract,
motivate and retain an experienced and effective management team. Relative to the competitive market data, the Compensation Committee
generally intends that the base salary and target annual incentive compensation for each Named Executive Officer will be at the
median of the competitive market.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">As
noted above, notwithstanding the Company&rsquo;s overall pay positioning objectives, pay opportunities for specific individuals
vary based on a number of factors such as scope of duties, tenure, institutional knowledge and/or difficulty in recruiting a new
executive. Actual total compensation in a given year will vary above or below the target compensation levels based primarily on
the attainment of operating goals and the creation of stockholder value.</FONT></P>

<!-- Field: Page; Sequence: 28; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Compensation
Committee Discretion</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Compensation Committee retains the discretion to decrease all forms of incentive payouts based on significant individual or Company
performance shortfalls, with the exception of any such payouts that are to be made pursuant to contractual commitments, such as
the bonuses that may be paid to Ms. Varela, which are tied to the Company&rsquo;s EBIT for the preceding year pursuant to her
employment agreement. Similarly, the Compensation Committee retains the discretion to increase payouts and/or consider special
awards for significant achievements, including, but not limited to, superior asset management, investment or strategic accomplishments
and/or consummation of acquisitions, divestitures, capital improvements to existing properties, or sales made by certain of the
Company&rsquo;s divisions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Risk
Assessment</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>&#9;</I></B>Bonus
payments to executives are based either on the discretion of the Compensation Committee or are tied to growth in EBIT. Long-term
incentives have been granted in the form of stock options and time-vested restricted stock that generally vest over four or five
years. These programs have been in place for several years and have proved effective in rewarding performance while not encouraging
inappropriate risk-taking.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Compensation Committee undertook to review and evaluate all of our executive and company-wide compensation plans and programs
to assess whether any aspect of these plans and programs would encourage inappropriate risk-taking by the Company&rsquo;s executives
and non-executive employees that could have a material adverse effect on the Company and to confirm that the Company has adequate
risk management controls in place to ensure that executive and company-wide compensation is reasonable and achieves its intended
incentive without creating unacceptable risk. Based on such review and evaluation, the <FONT STYLE="color: black">Compensation
Committee believes there is no material adverse risk to the Company that is related to our compensation programs for executives
and non-executives.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">This
review and evaluation of our compensation plans and programs risks consisted of:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt;"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">identifying
                                                                                                                                   those
                                                                                                                                   business
                                                                                                                                   risks
                                                                                                                                   that
                                                                                                                                   could
                                                                                                                                   be
                                                                                                                                   material
                                                                                                                                   to
                                                                                                                                   the
                                                                                                                                   Company
                                                                                                                                   and
                                                                                                                                   identifying
                                                                                                                                   our
                                                                                                                                   existing
                                                                                                                                   risk
                                                                                                                                   management
                                                                                                                                   system;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt;"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">reviewing
                                                                                                                                   and
                                                                                                                                   analyzing
                                                                                                                                   our
                                                                                                                                   compensation
                                                                                                                                   plans
                                                                                                                                   and
                                                                                                                                   programs
                                                                                                                                   to
                                                                                                                                   identify
                                                                                                                                   plan
                                                                                                                                   and
                                                                                                                                   program
                                                                                                                                   features
                                                                                                                                   that
                                                                                                                                   could
                                                                                                                                   potentially
                                                                                                                                   encourage
                                                                                                                                   or
                                                                                                                                   introduce
                                                                                                                                   excessive
                                                                                                                                   or
                                                                                                                                   imprudent
                                                                                                                                   risk
                                                                                                                                   taking
                                                                                                                                   of
                                                                                                                                   a
                                                                                                                                   material
                                                                                                                                   nature;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt;"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">identifying
                                                                                                                                   the
                                                                                                                                   business
                                                                                                                                   risks
                                                                                                                                   that
                                                                                                                                   our
                                                                                                                                   compensation
                                                                                                                                   plan
                                                                                                                                   and
                                                                                                                                   program
                                                                                                                                   features
                                                                                                                                   could
                                                                                                                                   potentially
                                                                                                                                   encourage
                                                                                                                                   or
                                                                                                                                   create;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt;"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">balancing
                                                                                                                                   these
                                                                                                                                   business
                                                                                                                                   risks
                                                                                                                                   against
                                                                                                                                   our
                                                                                                                                   existing
                                                                                                                                   internal
                                                                                                                                   control
                                                                                                                                   systems
                                                                                                                                   designed
                                                                                                                                   to
                                                                                                                                   manage
                                                                                                                                   and
                                                                                                                                   mitigate
                                                                                                                                   these
                                                                                                                                   business
                                                                                                                                   risks;
                                                                                                                                   and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt;"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">analyzing
                                                                                                                                   whether
                                                                                                                                   the
                                                                                                                                   unmitigated
                                                                                                                                   risks,
                                                                                                                                   as
                                                                                                                                   a
                                                                                                                                   whole,
                                                                                                                                   are
                                                                                                                                   reasonably
                                                                                                                                   likely
                                                                                                                                   to
                                                                                                                                   have
                                                                                                                                   a
                                                                                                                                   material
                                                                                                                                   adverse
                                                                                                                                   effect
                                                                                                                                   on
                                                                                                                                   the
                                                                                                                                   Company.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Various
persons were consulted during the course of the assessment, including our executive officers and senior members of our human resources
department. The Compensation Committee engages Reda &amp; Associates to review our executive and company-wide compensation plans
and programs and provide advice regarding appropriate levels of incentive.</FONT></P>

<!-- Field: Page; Sequence: 29; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Compensation Committee noted several features of our compensation structure that mitigate risk, including, for example:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt;"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the
                                                                                                                                   Company
                                                                                                                                   utilizes
                                                                                                                                   a
                                                                                                                                   pay
                                                                                                                                   mix
                                                                                                                                   that
                                                                                                                                   is
                                                                                                                                   well
                                                                                                                                   balanced
                                                                                                                                   between
                                                                                                                                   short-term
                                                                                                                                   financial
                                                                                                                                   performance
                                                                                                                                   and
                                                                                                                                   long-term
                                                                                                                                   stock
                                                                                                                                   performance,
                                                                                                                                   comprised
                                                                                                                                   of
                                                                                                                                   secure
                                                                                                                                   compensation
                                                                                                                                   in
                                                                                                                                   the
                                                                                                                                   form
                                                                                                                                   of
                                                                                                                                   base
                                                                                                                                   salary,
                                                                                                                                   short-term
                                                                                                                                   incentives
                                                                                                                                   in
                                                                                                                                   the
                                                                                                                                   form
                                                                                                                                   of
                                                                                                                                   potential
                                                                                                                                   for
                                                                                                                                   cash
                                                                                                                                   bonuses,
                                                                                                                                   and
                                                                                                                                   long-term
                                                                                                                                   incentives
                                                                                                                                   in
                                                                                                                                   the
                                                                                                                                   form
                                                                                                                                   of
                                                                                                                                   stock
                                                                                                                                   options
                                                                                                                                   and
                                                                                                                                   time-vested
                                                                                                                                   restricted
                                                                                                                                   stock
                                                                                                                                   that
                                                                                                                                   generally
                                                                                                                                   vest
                                                                                                                                   over
                                                                                                                                   four
                                                                                                                                   or
                                                                                                                                   five
                                                                                                                                   years;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt;"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">in
                                                                                                                                   most
                                                                                                                                   instances,
                                                                                                                                   management
                                                                                                                                   or
                                                                                                                                   the
                                                                                                                                   Compensation
                                                                                                                                   Committee
                                                                                                                                   retains
                                                                                                                                   the
                                                                                                                                   discretion
                                                                                                                                   to
                                                                                                                                   decrease
                                                                                                                                   all
                                                                                                                                   forms
                                                                                                                                   of
                                                                                                                                   incentive
                                                                                                                                   compensation
                                                                                                                                   based
                                                                                                                                   on
                                                                                                                                   significant
                                                                                                                                   individual
                                                                                                                                   or
                                                                                                                                   Company
                                                                                                                                   performance
                                                                                                                                   shortfalls;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt;"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">we
                                                                                                                                   periodically
                                                                                                                                   benchmark
                                                                                                                                   our
                                                                                                                                   compensation
                                                                                                                                   plans
                                                                                                                                   and
                                                                                                                                   programs
                                                                                                                                   and
                                                                                                                                   target
                                                                                                                                   executive
                                                                                                                                   and
                                                                                                                                   non-executive
                                                                                                                                   compensation
                                                                                                                                   within
                                                                                                                                   the
                                                                                                                                   normal
                                                                                                                                   limits
                                                                                                                                   of
                                                                                                                                   the
                                                                                                                                   competitive
                                                                                                                                   market;
                                                                                                                                   and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt;"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the
                                                                                                                                   Compensation
                                                                                                                                   Committee
                                                                                                                                   provides
                                                                                                                                   oversight
                                                                                                                                   of
                                                                                                                                   the
                                                                                                                                   Company&#8217;s
                                                                                                                                   compensation
                                                                                                                                   plans
                                                                                                                                   and
                                                                                                                                   programs
                                                                                                                                   and
                                                                                                                                   compensation
                                                                                                                                   philosophy,
                                                                                                                                   makes
                                                                                                                                   recommendations
                                                                                                                                   to
                                                                                                                                   the
                                                                                                                                   Board
                                                                                                                                   with
                                                                                                                                   respect
                                                                                                                                   to
                                                                                                                                   improvements
                                                                                                                                   to
                                                                                                                                   our
                                                                                                                                   compensation
                                                                                                                                   plans
                                                                                                                                   and
                                                                                                                                   programs,
                                                                                                                                   and
                                                                                                                                   is
                                                                                                                                   responsible
                                                                                                                                   for
                                                                                                                                   reviewing
                                                                                                                                   and
                                                                                                                                   approving
                                                                                                                                   executive
                                                                                                                                   compensation
                                                                                                                                   and
                                                                                                                                   administering
                                                                                                                                   and
                                                                                                                                   awarding
                                                                                                                                   incentive,
                                                                                                                                   deferred
                                                                                                                                   and
                                                                                                                                   equity
                                                                                                                                   compensation
                                                                                                                                   to
                                                                                                                                   our
                                                                                                                                   senior
                                                                                                                                   executives.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
light of the assessment described above, it was concluded that the risks associated with our compensation plans and programs (executive
and company-wide) are not reasonably likely to have a material adverse effect on the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Implications
of Tax and Accounting Matters</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">As
a general matter, the Compensation Committee considers the various tax and accounting implications of compensation vehicles employed
by the Company. </FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">While the Compensation Committee reviews and considers
both the accounting and tax effects of various components of compensation, these effects are not a significant factor in the Compensation
Committee&rsquo;s allocation of compensation among the different components.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
general, the Company believes that compensation paid to executive officers should be deductible for U.S. tax purposes. In certain
instances, however, the Compensation Committee also believes that it is in the Company&rsquo;s best interests, and that of its
stockholders, to have the flexibility to pay compensation that is not deductible under the limitations of Section 162(m) of the
Code in order to provide a compensation package consistent with the Company&rsquo;s objectives.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">As
more fully described below under the heading &ldquo;Termination, Change-in-Control and Non-Competition/Non-Solicitation,&rdquo;
all of the executive officers of the Company whose names appear in the Summary Compensation Table contained in this Proxy Statement
are entitled to receive certain compensation in the event of a termination of employment in connection with a change-in-control
event for the Company, which payments may trigger the application of the &ldquo;golden parachute&rdquo; provisions of Sections
280G and 4999 of the Code. Section 280G of the Code disallows a tax deduction with respect to excess parachute payments to certain
executives of companies which undergo a change-in-control. In addition, Section 4999 of the Code imposes a 20% excise tax on the
individual receiving the excess parachute payment. Excess parachute payments are golden parachute payments that exceed an amount
determined under Section 280G based on the executive&rsquo;s prior compensation. In approving the compensation arrangements of
our Named Executive Officers, our Compensation Committee considers all elements of the cost to our Company of providing such compensation
including the potential impact of Sections 280G and 4999 which, under certain circumstances, may limit the deductibility to the
Company of executive compensation. However, our Compensation Committee may determine, in its judgment, to authorize compensation
arrangements that could give rise to loss of deductibility under Section 280G and the imposition of excise taxes under Section
4999 when it believes that such arrangements are appropriate to attract and retain executive talent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>Conclusion</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
level and mix of compensation that is finally decided upon is considered within the context of both the objective data from the
Company&rsquo;s competitive assessment of compensation and performance, as well as discussion of the subjective factors as outlined
above. The Compensation Committee believes that each of the compensation packages for the Named Executive Officers is within the
competitive range of practices when compared to the objective comparative data even where subjective factors have influenced the
compensation decisions.</FONT></P>

<!-- Field: Page; Sequence: 30; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa024_v1"></A>Compensation Committee Interlocks and Insider Participation</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">During
the 2012 Fiscal Year, the following directors served on the Compensation Committee: Peter Migliorini (Chairman) and Thomas H.
Schwartz. During the 2012 Fiscal Year:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 0.5in; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif">&#9679;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">none of the members of the Compensation Committee was an officer (or former officer) or employee of the Company or any of its subsidiaries;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">none of the members of the Compensation Committee had a direct or indirect material interest in any transaction in which the Company was a participant and the amount involved exceeded $120,000;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">none of the Company&rsquo;s executive officers served on the compensation committee (or another board committee with similar functions or, if none, the entire board of directors) of another entity where one of that entity&rsquo;s executive officers served on the Company&rsquo;s Compensation Committee;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">none of the Company&rsquo;s executive officers was a director of another entity where one of that entity&rsquo;s executive officers served on the Company&rsquo;s Compensation Committee; and</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">none of the Company&rsquo;s executive officers served on the compensation committee (or another board committee with similar functions or, if none, the entire board of directors) of another entity where one of that entity&rsquo;s executive officers served as a director on the Company&rsquo;s Board of Directors.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa025_v1"></A>Executive Officers</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
following table identifies the executive officers of the Company, and their ages and positions:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 95%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 56%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black"><B><U>Name</U></B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black"><B><U>Age</U></B></FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black"><B><U>Position</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,204)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Edward R. Rosenfeld</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">37</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Chairman of the Board and
    Chief Executive Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Arvind Dharia</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">63</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Chief Financial Officer and
    Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,204)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Awadhesh Sinha</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">67</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Chief Operating Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Robert Schmertz</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">49</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Brand Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,204)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Amelia Newton Varela</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">41</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Executive Vice President
    of Wholesale</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Arvind
Dharia has been the Chief Financial Officer of the Company since October 1992 and was a director of the Company from December
1993 through May 2004. Mr. Dharia has been Secretary of the Company since 1993. From December 1988 until joining the Company in
September 1992, Mr. Dharia was Assistant Controller of Millennium III Real Estate Corp., a real estate management company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Awadhesh
Sinha became the Chief Operating Officer of the Company in July 2005. Mr. Sinha was a director of the Company, from October 2002
to July 2005, before joining the Company as its Chief Operating Officer. Mr. Sinha was the Chief Operating Officer and Chief Financial
Officer of WEAR ME Apparel Inc., a company that designs, manufactures and markets branded and non-branded children&rsquo;s clothing,
from 2003 to July 2005. Prior to that, Mr. Sinha worked for Salant Corporation, a company that designs, manufactures and markets
men&rsquo;s clothing, for 22 years, and held the position of Chief Operating Officer and Chief Financial Officer of Salant Corporation
from 1998 to 2003.</FONT></P>

<!-- Field: Page; Sequence: 31; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Robert
Schmertz has been the Brand Director since January 2006. Mr. Schmertz served as President of Steve Madden Women&rsquo;s Wholesale
Division and Brand Manager from September 2001 through January 2006. Additionally, Mr. Schmertz served as President of Shoe Biz,
Inc., formerly a wholly owned subsidiary of Steven Madden Retail, Inc., from May 1998 through August 2001. Before joining the
Company, Mr. Schmertz was President of Daniel Scott Inc. from November 1995 to May 1998. Previously, Mr. Schmertz was the East
Coast Sales Manager for Impo International from January 1993 through November 1995. From April 1990 to December 1992, Mr. Schmertz
served as a sales representative for Espirit de Corp. based in San Francisco, California.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amelia
Newton Varela has been Executive Vice President of Wholesale since April 2008. Ms. Varela was Executive Vice President of Wholesale
Sales from November 2004 to April 2008. Previously, she was Vice President of Sales for Steve Madden Women&rsquo;s Wholesale Division
from January 2000. Prior to that, she was Account Executive for Steve Madden Women&rsquo;s Wholesale Division from 1998. Before
joining the Company, Ms. Varela was the sales assistant to the Executive Vice President of Sales for Merrin Financial. She graduated
from The Fashion Institute of Technology in 1995.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Please
see the section of this Proxy Statement captioned &ldquo;Proposal One: Election of Directors -- Biographical Summaries of Nominees
for the Board of Directors&rdquo; for information concerning the Company&rsquo;s Chairman of the Board and Chief Executive Officer,
Edward R. Rosenfeld, and the Company&rsquo;s other directors.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa026_v1"></A>SUMMARY COMPENSATION TABLE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
following table sets forth the compensation information for the Company&rsquo;s Chief Executive Officer, Chief Financial Officer
and the three most highly compensated executive officers other than the Chief Executive Officer and Chief Financial Officer relating
to Fiscal Years 2012, 2011 and 2010, respectively. In this Proxy Statement, the Company refers to this group of people as the
Company&rsquo;s &ldquo;Named Executive Officers.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
accordance with applicable SEC rules, the Summary Compensation Table includes, for a particular fiscal year, only those stock
awards made during that fiscal year and not any awards made after year-end even if awarded for services rendered in that year.
SEC rules require that such awards be reflected in the year of grant and, as such, awards made after the year-end of fiscal year
2012 will appear in the Summary Compensation Table to be included in our proxy statement for our 2014 Annual Meeting of Stockholders.</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 21%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; padding-left: 8.65pt; font-size: 8pt; text-indent: -8.65pt"><FONT STYLE="font-size: 10pt">Name
    and Principal Position</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">Fiscal Year</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">Salary
    ($)</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">Bonus
    <BR>
    ($)</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">Stock<BR>
    Awards <BR>
    ($) (1)</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">Option
    Awards <BR>
    ($)(1)</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: center"><FONT STYLE="font-size: 10pt">Non-Equity
    Incentive<BR>
    Plan Compensation <BR>
    ($)</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">All Other<BR>
    Compensation <BR>
    ($)</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Total<BR>
    Compensation <BR>
    ($)</FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt"><B>Edward R. Rosenfeld</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2012</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">551,250</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">883,400</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">250,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">15,000 </TD>
    <TD>&nbsp;(2)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,699,650</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt"><I>Chief Executive Officer</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">525,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">200,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">886,600</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">17,423 </TD>
    <TD>&nbsp;(3)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,629,023</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">500,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">100,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">22,350 </TD>
    <TD>&nbsp;(4)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">622,350</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt"><B>Arvind Dharia</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2012</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">554,719</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">623,050</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">250,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">101,685 </TD>
    <TD>&nbsp;(5)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,529,454</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt"><I>Chief Financial Officer</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">528,304</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">100,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">443,300</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">105,713 </TD>
    <TD>&nbsp;(6)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,177,317</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">528,304</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">50,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">364,240</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">94,415 </TD>
    <TD>&nbsp;(7)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,036,959</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt"><B>Awadhesh Sinha</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2012</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">575,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">331,275</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">250,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">21,317 </TD>
    <TD>&nbsp;(8)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,177,592</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt"><I>Chief Operating Officer</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">575,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">150,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">19,352 </TD>
    <TD>&nbsp;(9)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">744,352</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">539,963</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">175,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,621,550</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,000,000 </TD>
    <TD>&nbsp;(10)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">17,584 </TD>
    <TD>&nbsp;(11)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">3,354,597</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt"><B>Robert Schmertz</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2012</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">660,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">100,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">22,500 </TD>
    <TD>&nbsp;(12)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">782,500</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt"><I>Brand Director</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">660,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">500,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">332,475</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">22,350 </TD>
    <TD>&nbsp;(13)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,514,825</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">660,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">350,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">22,350 </TD>
    <TD>&nbsp;(13)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,032,350</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt"><B>Amelia Newton Varela</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2012</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">450,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">506,762</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">216,999 </TD>
    <TD>&nbsp;(14)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">22,500 </TD>
    <TD>&nbsp;(15)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,196,261</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt"><I>Executive Vice President</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">450,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">186,649</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,462,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">63,351 </TD>
    <TD>&nbsp;(14)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">22,350 </TD>
    <TD>&nbsp;(16)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2,184,850</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt"><I>Of Wholesale</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">400,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">200,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">500,159</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">540,965 </TD>
    <TD>&nbsp;(14)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">22,350 </TD>
    <TD>&nbsp;(16)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1,663,474</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 32; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1)
The amounts in this column reflect the aggregate grant date fair value of awards granted during the applicable year for the fiscal
years ended December 31, 2012, December 31, 2011 and December 31, 2010, respectively, calculated in accordance with ASC Topic
718. Assumptions used in the calculation of these amounts are included in Note I to the Company&rsquo;s audited financial statements
for the fiscal years ended December 31, 2012, December 31, 2011 and December 31, 2010 included in the Company&rsquo;s Annual Report
on Form 10-K filed with the Securities and Exchange Commission on March 1, 2013, February 29, 2012 and February 28, 2011, respectively.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2)
Consists of a $15,000 automobile allowance.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3)
Includes the following: $15,000 automobile allowance and $2,423 in annual matching contributions to Mr. Rosenfeld&rsquo;s 401(k)
plan account.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(4)
Includes the following: $15,000 automobile allowance and $7,350 in annual matching contributions to Mr. Rosenfeld&rsquo;s 401(k)
plan account.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(5)
Includes the following: $11,381 automobile allowance, $82,804 life insurance premiums and $7,500 in annual matching contributions
to Mr. Dharia&rsquo;s 401(k) plan account.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(6)
Includes the following: $14,400 automobile allowance, $83,963 life insurance premiums and $7,350 in annual matching contributions
to Mr. Dharia&rsquo;s 401(k) plan account.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(7)
Includes the following: $6,738 automobile allowance, $80,327 life insurance premiums and $7,350 in annual matching contributions
to Mr. Dharia&rsquo;s 401(k) plan account.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(8)
Includes the following: $13,817 automobile allowance and $7,500 in annual matching contributions to Mr. Sinha&rsquo;s 401(k) plan
account.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(9)
Includes the following: $12,002 automobile allowance and $7,350 in annual matching contributions to Mr. Sinha&rsquo;s 401(k) plan
account.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(10)
Represents a non-equity incentive payment made pursuant to a bonus formula in Mr. Sinha&rsquo;s employment agreement. See &ldquo;Employment
Arrangements.&rdquo;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(11)
Includes the following: $10,108 automobile allowance and $7,476 in annual matching contributions to Mr. Sinha&rsquo;s 401(k) plan
account.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(12)
Includes the following: $15,000 automobile allowance and $7,500 in annual matching contributions to Mr. Schmertz&rsquo;s 401(k)
plan account.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(13)
Includes the following: $15,000 automobile allowance and $7,350 in annual matching contributions to Mr. Schmertz&rsquo;s 401(k)
plan account.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(14)
Represents a non-equity incentive payment made pursuant to a bonus formula in Ms. Varela&rsquo;s employment agreement. See &ldquo;Employment
Arrangements.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(15)
Includes the following: $15,000 automobile allowance and $7,500 in annual matching contributions to Ms. Varela&rsquo;s 401(k)
plan account.</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(16)
Includes the following: $15,000 automobile allowance and $7,350 in annual matching contributions to Ms. Varela&rsquo;s 401(k)
plan account.</FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 10pt"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa027_v1"></A>Employment Arrangements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black"><B>Edward
R. Rosenfeld. </B>In April<B> </B>2008 (effective in March 2008), the Company entered into an employment agreement with Edward
R. Rosenfeld pursuant to which Mr. Rosenfeld agreed to serve as interim Chief Executive Officer of the Company for a term expiring
on December 31, 2009. Effective August 8, 2008, the Company appointed Mr. Rosenfeld to serve as Chief Executive Officer and executive
Chairman of the Board of Directors of the Company. The terms of Mr. Rosenfeld&rsquo;s employment agreement remained unchanged
and the employment agreement expired by its terms on December 31, 2009. In November 2009, the Company entered into an employment
agreement with Mr. Rosenfeld to replace the prior, expiring employment agreement. Pursuant to the new agreement Mr. Rosenfeld
would continue to serve as Chief Executive Officer and executive Chairman of the Board of Directors of the Company and receive
a </FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">base salary of $500,000 and $525,000 during fiscal years 2010
and 2011, respectively, and a base salary of $551,250 commencing <FONT STYLE="color: black">January 1, 2012 until the employment
agreement&rsquo;s expiration on December 31, 2012. The November 2009 employment agreement provided that </FONT>Mr. Rosenfeld would
receive a monthly automobile allowance of $1,250 and additional compensation and bonuses, if any, at the absolute discretion of
the Board of Directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">On
December 31, 2012, the Company entered into a new employment agreement with Mr. Rosenfeld pursuant to which Mr. Rosenfeld will
continue to serve as Chief Executive Officer and executive Chairman of the Board of Directors of the Company until the agreement
expires on December 31, 2015 or is sooner terminated in accordance with its terms. Mr. Rosenfeld&rsquo;s current agreement provides
for an annual base salary of $578,813, $607,754 and $638,142 for the fiscal years 2013, 2014 and 2015, respectively, and a monthly
automobile allowance of $1,500. The current agreement <FONT STYLE="color: black">provides </FONT>that Mr. Rosenfeld will receive
additional compensation and bonuses, if any, at the absolute discretion of the Board of Directors. Pursuant to the current agreement,
on January 2, 2013, Mr. Rosenfeld was granted 100,000 shares of the Company&rsquo;s Common Stock, subject to certain restrictions.
These restricted shares of Common Stock, which were issued under the 2006 Plan, will vest in five equal annual installments of
20,000 shares commencing on December 1, 2013.</FONT></P>

<!-- Field: Page; Sequence: 33; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
the event of his death, Mr. Rosenfeld&rsquo;s employment agreement provides for the <FONT STYLE="color: black">payment to his
estate of his base salary for the 12-month period immediately subsequent to the date of Mr. Rosenfeld&rsquo;s death. The agreement
also provides that if Mr. Rosenfeld&rsquo;s employment agreement is terminated due to his &ldquo;total disability&rdquo; (as defined
in the agreement), Mr. Rosenfeld will receive payment of his base salary for the 12-month period immediately subsequent to the
date he is determined to be totally disabled. </FONT>Mr. Rosenfeld&rsquo;s employment agreement allows the Company to terminate
his employment with &ldquo;cause&rdquo; (as defined in the employment agreement) or without cause. In the event that Mr. Rosenfeld&rsquo;s
employment is terminated by the Company for cause, the Company will have no further obligations to Mr. Rosenfeld, and Mr. Rosenfeld
will be entitled to no further compensation from the Company, except for pro-rata amounts due to him on the date of his termination.
In the event that Mr. Rosenfeld&rsquo;s employment is terminated by the Company without cause or by Mr. Rosenfeld&rsquo;s resignation
for &ldquo;good reason&rdquo; (as defined in the employment agreement), Mr. Rosenfeld will be entitled to receive payment of his
annual base salary, payable at regular payroll intervals, from the date of termination of employment through the longer of the
remainder of the term of the agreement or six months.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
addition, if Mr. Rosenfeld&rsquo;s employment is terminated by the Company without cause or by the resignation of Mr. Rosenfeld
for good reason during the period commencing 90 days prior to a &ldquo;change of control&rdquo; (as defined in the employment
agreement) transaction and ending 180 days following a change of control transaction, Mr. Rosenfeld <FONT STYLE="color: black">will
receive an amount equal to three times the average amount of total W-2 compensation actually received by him during the preceding
three calendar years ending on the last previous December 31, except that in lieu of the actual base salary component received
during such period, there shall be substituted the annual base salary to which Mr. Rosenfeld was entitled as of the date of termination
or resignation (the &ldquo;Change of Control Payment&rdquo;). However, if the Change of Control Payment (or a portion thereof)
is determined to constitute an &ldquo;excess parachute payment&rdquo; under Sections 280G and 4999 of the Code, Mr. Rosenfeld
shall be paid either (i) the Change of Control Payment (which shall be subject to all applicable taxes to be paid by the executive
including the excise tax payable pursuant to Section 4999 and which shall be limited as to deductibility to the Company) or (ii)
a reduced amount, calculated in accordance with Section 280G, that may be paid to the executive without the imposition of an excise
tax under Section 4999 and which shall be fully deductible to the Company, whichever payment yields the greater after-tax benefit
to the executive.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black"><B>Arvind
Dharia.</B> In January 1998, the Company entered into an employment agreement with Arvind Dharia, which has been amended from
time to time, most recently on February 8, 2012. Pursuant to Mr. Dharia&rsquo;s amended agreement, Mr. Dharia agreed to continue
to serve as the Company&rsquo;s Chief Financial Officer. The term of Mr. Dharia&rsquo;s employment under his agreement, as amended,
extends through December 31, 2014, and will be automatically extended for an additional one-year period unless either party timely
notifies the other of its intention not to extend the term. Pursuant to the amended agreement, Mr. Dharia received an annual base
salary of $528,304 during fiscal years 2010 and 2011. Commencing January 1, 2012, Mr. Dharia&rsquo;s annual base salary increased
to and will remain $554,719 for the remaining term of the agreement. </FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Mr.
Dharia received a monthly automobile allowance of $1,200 prior to the most recent amendment of the agreement and beginning January
1, 2012, his monthly car allowance increased to $1,400. The agreement provides that the Company will pay life insurance premiums
on Mr. Dharia&rsquo;s behalf of approximately $80,000 per year. Mr. Dharia&rsquo;s employment agreement, as amended, provides
for a grant of 10,000 shares of the Company&rsquo;s Common Stock, subject to certain restrictions. These restricted shares of
Common Stock were issued to Mr. Dharia on February 8, 2012 under the 2006 Plan and will vest in three substantially equal annual
installments commencing on February 8, 2013. <FONT STYLE="color: black">In addition, the amended agreement provides that Mr. Dharia
will receive an annual bonus in such amount, if any, and at such time or times, as the Board of Directors may determine in its
absolute discretion. Subject to availability of shares under the 2006 Plan, or any other plan designated by the Board of Directors
and approved by the Company&rsquo;s stockholders, Mr. Dharia is entitled to awards under such plan as may be determined by the
Board of Directors, or a committee thereof, from time to time in its absolute discretion.</FONT></FONT></P>

<!-- Field: Page; Sequence: 34; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
agreement provides, in the event of Mr. Dharia&rsquo;s death, for the payment to Mr. Dharia&rsquo;s estate of his base salary
for the 12-month period immediately subsequent to the date of Mr. Dharia&rsquo;s death. The agreement also provides that if Mr.
Dharia&rsquo;s employment agreement is terminated due to his &ldquo;total disability&rdquo; (as defined in the agreement), Mr.
Dharia will receive payment of his base salary for the 12-month period immediately subsequent to the date he is determined to
be totally disabled. In the event that Mr. Dharia&rsquo;s employment agreement is terminated &ldquo;for cause&rdquo; (as defined
in the agreement), the Company is obligated to pay Mr. Dharia the amount of compensation that is accrued and unpaid through the
date of termination. In the event that Mr. Dharia&rsquo;s employment agreement is terminated for any reason (other than &ldquo;for
cause&rdquo; or due to his death or total disability), the Company is obligated to pay Mr. Dharia, in two installments, (a) an
amount equal to the product of (x) his base salary on the effective date of such termination plus the bonus paid or payable, if
any, for the fiscal year ended on the December 31st immediately preceding the termination date, multiplied by (y) the number of
years (and fraction of years) remaining in the term; and (b) the amount payable to him, or on his account, for what would have
been the balance of the term of his employment agreement with respect to certain benefits and plans as set forth in his employment
agreement. If the Company decides not to renew the agreement (other than &ldquo;for cause&rdquo; or due to his total disability),
then Mr. Dharia will be entitled to receive severance compensation, in cash, in an amount equal to his then-current base salary
for the 90-day period commencing on the expiration of the term.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
addition, in the event that there is a &ldquo;change of control&rdquo; transaction and Mr. Dharia&rsquo;s employment has been
terminated by the Company other than &ldquo;for cause&rdquo; or if Mr. Dharia resigns &ldquo;for good reason&rdquo; (as such terms
are defined in the agreement), Mr. Dharia will receive an amount equal to three times the total compensation he was entitled to
receive under the agreement for the preceding 12-month period ending on the last previous December 31, except that in lieu of
the actual base salary component received during such period, there shall be substituted the annual base salary to which Mr. Dharia
was entitled to as of the date of termination or resignation (the &ldquo;Change of Control Payment&rdquo;). However, if the Change
of Control Payment (or a portion thereof) is determined to constitute an &ldquo;excess parachute payment&rdquo; under Sections
280G and 4999 of the Code, Mr. Dharia will be paid either (i) the Change of Control Payment (which shall be subject to all applicable
taxes to be paid by the executive including the excise tax payable pursuant to Section 4999 and which shall be limited as to deductibility
to the Company) or (ii) a reduced amount, calculated in accordance with Section 280G, that may be paid to the executive without
the imposition of an excise tax under Section 4999 and which shall be fully deductible to the Company, whichever payment yields
the greater after-tax benefit to the executive.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Awadhesh
Sinha. </B>In June 2005, the Company entered into an employment agreement with Awadhesh Sinha, which was amended in November 2007
and in October 2008, pursuant to which Mr. Sinha agreed to continue to serve as the Company&rsquo;s Chief Operating Officer. Pursuant
to his amended employment, Mr. Sinha received a base salary of $539,963 in fiscal year 2010. In respect of the 2010 fiscal year,
Mr. Sinha was eligible to receive a cash bonus under the Company&rsquo;s 2006 Plan equal to 3% of the increase in the Company&rsquo;s
EBIT for such fiscal year over the EBIT of the immediately prior fiscal year up to a maximum bonus of $1,000,000 in any fiscal
year. Mr. Sinha received a cash bonus of $1,000,000 for 2010 EBIT performance. In addition, Mr. Sinha&rsquo;s employment agreement,
as amended, provided for certain deferred compensation with respect to 2008, 2009 and 2010. For the period commencing July 1,
2008 and ending December 31, 2008, the agreement, as amended, provided for a mandatory deferral of additional cash compensation
in an amount equal to 25% of Mr. Sinha&rsquo;s annual base salary, and the Company agreed to pay to Mr. Sinha such additional
cash compensation provided that Mr. Sinha remained in the employ of the Company on December 31, 2010. For the period commencing
January 1, 2009 and ending December 31, 2009, the agreement, as amended, provided for a mandatory deferral of additional cash
compensation in an amount equal to 12.5% of Mr. Sinha&rsquo;s annual base salary, and the Company agreed to pay to Mr. Sinha such
additional cash compensation provided that Mr. Sinha remained in the employ of the Company on December 31, 2010. For the period
commencing January 1, 2010 and ending December 31, 2010, the agreement, as amended, provided for a mandatory deferral of additional
cash compensation in an amount equal to 7.5% of Mr. Sinha&rsquo;s annual base salary, and the Company agreed to pay to Mr. Sinha
such additional cash compensation provided that Mr. Sinha remained in the employ of the Company on December 31, 2010. Mr. Sinha
received a total of $175,500, in cash, with respect to the deferred additional cash compensation for the 2008, 2009 and 2010 fiscal
years subsequent to the end of the 2010 fiscal year.</FONT></P>

<!-- Field: Page; Sequence: 35; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">On
December 1, 2010, the Company entered into a new employment agreement with Mr. Sinha to replace the prior employment agreement,
which was to expire by its terms on December 31, 2010. </FONT>Pursuant to the new employment agreement, Mr. Sinha continues to
serve as Chief Operating Officer of the Company for a term commencing on January 1, 2011 and expiring on December 31, 2013, unless
sooner terminated in accordance with the terms of the agreement. <FONT STYLE="color: black">Commencing January 1, 2011, Mr. Sinha&rsquo;s
annual base salary increased to and will remain $575,000 for the remaining term of the agreement. </FONT>Pursuant to his employment
agreement, Mr. Sinha receives a monthly automobile allowance of $1,750. The employment agreement also provides that the Company
will pay term life insurance premiums on his behalf of approximately $3,500 per year. In addition, Mr. Sinha&rsquo;s new employment
agreement provides for a grant of 52,500 shares of the Company&rsquo;s Common Stock, subject to certain restrictions (the number
of shares indicated having been adjusted for a May 31, 2011 three-for-two stock split effected as a stock dividend). These restricted
shares of Common Stock were issued to Mr. Sinha on December 1, 2010 under the 2006 Plan. The restricted Common Stock will vest
in three annual installments of 17,500 shares commencing on the first anniversary of the grant date. Mr. Sinha&rsquo;s new employment
agreement provides that additional compensation and bonuses, if any, will be paid to him at the absolute discretion of the Board
of Directors. Bonuses and other incentive-based compensation paid to Mr. Sinha are subject to recovery by the Company in the event
of a determination that such compensation was based upon materially inaccurate financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">In
the event of his death, Mr. Sinha&rsquo;s employment agreement provides for the payment to Mr. Sinha&rsquo;s estate of his base
salary for the 12-month period immediately subsequent to the date of Mr. Sinha&rsquo;s death. In addition, in the event of Mr.
Sinha&rsquo;s &ldquo;total disability&rdquo; (as such term is defined in the agreement), the Company is obligated to continue
to pay Mr. Sinha&rsquo;s base salary for the 12-month period immediately subsequent to the date of determination of such total
disability. In the event Mr. Sinha&rsquo;s employment agreement is terminated &ldquo;for cause&rdquo; (as such terms are defined
in the agreement), or due to Mr. Sinha&rsquo;s resignation without &ldquo;good reason&rdquo; (as such term is defined in the agreement),
the Company is obligated to pay Mr. Sinha the amount of compensation that is accrued and unpaid through the date of termination.
In the event Mr. Sinha&rsquo;s employment agreement is terminated by the Company without cause or by the resignation of Mr. Sinha
for good reason, Mr. Sinha would be entitled to </FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">receive payment
of his annual base salary, payable at regular payroll intervals, from the date of termination of employment through the longer
of (i) the remainder of the term or (ii) six months.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
addition, if Mr. Sinha&rsquo;s employment is terminated by the Company without cause or if Mr. Sinha resigns for good reason during
the period commencing 120 days prior to a &ldquo;change of control&rdquo; (as defined in the agreement) and ending 180 days after
a change of control, Mr. Sinha would be entitled to receive an amount equal to three times the total W-2 compensation actually
received by him during the preceding twelve-month period ending on the last previous December 31<SUP>st</SUP>, except that, in
lieu of the actual base salary compensation received, the annual base salary to which Mr. Sinha was entitled as of the date of
such termination or resignation of employment shall be substituted (the &ldquo;Change of Control Payment&rdquo;). <FONT STYLE="color: black">However,
if the Change of Control Payment (or a portion thereof) is determined to constitute an &ldquo;excess parachute payment&rdquo;
under Sections 280G and 4999 of the Code, Mr. Sinha will be paid either (i) the Change of Control Payment (which shall be subject
to all applicable taxes to be paid by the executive including the excise tax payable pursuant to Section 4999 and which shall
be limited as to deductibility to the Company) or (ii) a reduced amount, calculated in accordance with Section 280G, that may
be paid to the executive without the imposition of an excise tax under Section 4999 and which shall be fully deductible to the
Company, whichever payment yields the greater after-tax benefit to the executive.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black"><B>Robert
Schmertz. </B>In April 2002, the Company entered into an employment agreement with Robert Schmertz pursuant to which Mr. Schmertz
agreed to serve as President of Steve Madden Wholesale Women&rsquo;s Division and Brand Manager for the Company. The term of the
agreement commenced on April 1, 2002 and was extended in March 2005 and again in March 2007. Pursuant to the amended agreement,
Mr. Schmertz received an annual salary of $600,000. In October 2009, the Company entered into a new employment agreement with
Mr. Schmertz to replace the prior employment agreement, which was to expire by its terms on December 31, 2009. </FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pursuant
to the October 2009 agreement, Mr. Schmertz would continue to serve as Brand Director of the Company for a term that commenced
on October 7, 2009 and expired on December 31, 2012. Mr. Schmertz&rsquo;s annual base salary during the period from October 7,
2009 through December 31, 2009 remained $600,000. His annual base salary was increased to $660,000 commencing on January 1, 2010
for the duration of the term. <FONT STYLE="color: black">The October 2009 employment agreement provided that </FONT>Mr. Schmertz
would receive a monthly automobile allowance of $1,250 and additional compensation and bonuses, if any, at the absolute discretion
of the Board of Directors.</FONT></P>

<!-- Field: Page; Sequence: 36; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">On
January 2, 2013, the Company entered into a new employment agreement with Mr. Schmertz to replace the prior agreement that expired
on December 31, 2012. Pursuant to the new agreement, Mr. Schmertz will continue to serve as the Company&rsquo;s Brand Director
for a term commencing on January 1, 2013 and expiring on December 31, 2014 unless sooner terminated in accordance with the agreement&rsquo;s
terms. Mr. Schmertz&rsquo;s current agreement provides for an annual base salary of $725,000 and a monthly automobile allowance
of $1,500 during the term of the agreement. He will receive additional compensation and bonuses, if any, at the absolute discretion
of the Board of Directors. Pursuant to the current agreement, on January 4, 2013, Mr. Schmertz was granted 16,667 shares of the
Company&rsquo;s Common Stock, subject to certain restrictions. These restricted shares of Common Stock, which were issued under
the 2006 Plan, will vest in five substantially equal annual installments commencing on the first anniversary of the grant date,
January 4, 2014.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">In
the event of Mr. Schmertz&rsquo;s death, the employment agreement provides for the payment to his estate of his base salary for
the 12-month period immediately subsequent to the date of Mr. Schmertz&rsquo;s death. The agreement also provides that if Mr.
Schmertz&rsquo;s employment agreement is terminated due to his &ldquo;total disability&rdquo; (as defined in the agreement), Mr.
Schmertz will receive payment of his base salary for the 12-month period immediately subsequent to the date he is determined to
be totally disabled. </FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The Company may terminate the employment agreement
for &ldquo;cause&rdquo; (as defined in the employment agreement), in which event Mr. Schmertz would be entitled to receive only
his accrued and unpaid base salary through the date of termination. In the event that Mr. Schmertz&rsquo;s employment is terminated
by the Company without cause, he would be entitled to receive payment of his annual base salary, payable at regular payroll intervals,
from the date of termination through the remainder of the term. In addition, if Mr. Schmertz&rsquo;s employment is terminated
by the Company without cause during the period commencing 30 days prior to a &ldquo;change of control&rdquo; (as defined in the
employment agreement) transaction and ending 180 days after a change of control transaction, he would be entitled to receive an
amount equal to the lesser of (i) the average amount of total compensation actually received by him during the preceding three
calendar years multiplied by 3 and (ii) the maximum amount that is tax deductible to the Company under Section 280G of the Code,
such amount to be in lieu of and not in addition to any other payments to which Mr. Schmertz would be entitled in the event of
the termination of his employment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black"><B>Amelia
Newton Varela. </B>In October 2004, the Company entered into an employment agreement with Amelia Newton Varela, pursuant to which
Ms. Varela agreed to serve as Executive Vice President of Wholesale Sales. In April 2008, the Company entered into a new employment
agreement with Ms. Varela, pursuant to which Ms. Varela agreed to serve as Executive Vice President of Wholesale and Retail for
a term commencing on April 29, 2008 and ending on December 31, 2010. Pursuant to the 2008 employment agreement, Ms. Varela was
granted an option to purchase 56,250 shares of Common Stock of the Company at an exercise price of $21.76 per share on April 1,
2010 (the number of shares and exercise prices indicated having been </FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">adjusted
for three-for-two stock splits effected as a stock dividend, which occurred on April 30, 2010 and May 31, 2011)<FONT STYLE="color: black">.
The option shall vest 20% each year for five years, commencing on the first anniversary date of the grant of the option, has a
term of seven years and has an exercise price equal to the market price on the grant date. Under Ms. Varela&rsquo;s 2008 employment
agreement, her annual base salary was $400,000 for the 2010 fiscal year. Under the terms of the agreement, the Company agreed
to pay Ms. Varela an annual bonus for fiscal year 2010 in an amount equal to 2% of the increase, if any, in Wholesale Footwear
Division EBIT for that year over Wholesale Footwear Division EBIT for the immediately prior year, plus 1.5% of the increase, if
any, in Retail Division EBIT for that year over Retail Division EBIT for the immediately prior year. Ms. Varela received a cash
bonus of $540,965 for 2010 EBIT performance. In addition, under the 2008 employment agreement, Ms. Varela would be entitled to
a cash bonus of $200,000 if still employed by the Company on December 31, 2010, which bonus was paid to Ms. Varela subsequent
to the end of the 2010 fiscal year.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">On
January 31, 2011, the Company entered into a new employment agreement with Ms. Varela to replace the prior employment agreement
which expired by its terms on December 31, 2010. Pursuant to her new employment agreement, Ms. Varela will serve as the Executive
Vice President - Wholesale for a term commencing January 1, 2011 and expiring on December 31, 2013, unless sooner terminated in
accordance with the terms of the agreement. During the term of her new employment agreement, Ms. Varela will receive an annual
base salary of $450,000 and a monthly automobile allowance of $1,250. In addition, pursuant to the new employment agreement, on
February 1, 2011, Ms. Varela was granted an option to purchase 150,000 shares of the Company&rsquo;s Common Stock under the 2006
Plan, at an exercise price of $25.45 per share (the number of shares and exercise price indicated having been </FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">adjusted
for a May 31, 2011 three-for-two stock split effected as a stock dividend)<FONT STYLE="color: black">, which option becomes exercisable
in four equal annual installments of 37,500 on each anniversary of the date of grant, commencing on February 1, 2012. </FONT>In
addition, Ms. Varela is entitled to an annual performance-based cash bonus for each of the fiscal years ended December 31, 2011,
2012 and 2013 in an amount equal to 2% of the increase, if any, in the <FONT STYLE="color: black">Wholesale Division EBIT for
each such year over the Wholesale Division EBIT for the immediately preceding year</FONT>. Wholesale Division EBIT attributable
to any business acquired by the Company after January 31, 2011 will not be included for the purpose of determining Ms. Varela&rsquo;s
bonus until the acquired business has been owned by the Company for two full calendar years. <FONT STYLE="color: black">Ms. Varela
received a cash bonus of $216,999 and $63,351 for 2012 Wholesale Division EBIT performance and 2011 Wholesale Division EBIT performance,
respectively.</FONT></FONT></P>

<!-- Field: Page; Sequence: 37; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">In
the event that Ms. Varela&rsquo;s employment agreement is terminated due to Ms. Varela&rsquo;s &ldquo;disability&rdquo; (as defined
in the agreement) or death, the Company is obligated to pay Ms. Varela (or her estate) the amount of accrued and unpaid salary
through the date of termination plus any performance-based cash bonus that has accrued for the year prior to termination and is
unpaid at the time Ms. Varela&rsquo;s employment is terminated due to her disability or death. The Company may terminate the agreement
for &ldquo;cause&rdquo; (as defined in the agreement) and, in such event, Ms. Varela will be entitled only to accrued and unpaid
salary through the date of termination of employment. </FONT>In the event Ms. Varela&rsquo;s employment is terminated by the Company
without cause, she would be entitled to receive payment of her annual base salary, payable at regular payroll intervals, from
the date of termination of employment through the remainder of the term plus any performance-based cash bonus that has accrued
but not yet been paid. <FONT STYLE="color: black">In the event that Ms. Varela&rsquo;s employment is terminated by the Company
without cause during the period commencing 30 days prior to a &ldquo;change of control&rdquo; (as defined in the agreement) transaction
and ending 180 days following a change of control transaction, she is entitled to receive an amount equal to the lesser of (i)
</FONT>the average amount of total compensation actually received by her during the preceding three calendar years multiplied
by 3 and (ii) the maximum amount that is tax deductible to the Company under Section 280G of the Code.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa028_v1"></A>GRANTS OF PLAN-BASED AWARDS IN THE 2012 FISCAL YEAR</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
following table sets forth information concerning awards under the Company&rsquo;s equity and non-equity incentive plans granted
to each of the Named Executive Officers in the 2012 Fiscal Year, including performance-based awards and those using time-based
vesting. Following the table is a discussion of material factors related to the information disclosed in the table.</FONT>&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><BR><BR><BR><BR>Estimated future payouts
    under non-<BR>equity incentive plan awards</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" NOWRAP STYLE="text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">All Other <BR>
Stock<BR>
    Awards:<BR>
    Number of<BR>
    Shares of Stock<BR>
    or Units<BR>
    (#)</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" NOWRAP STYLE="text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">All Other<BR>
    Option<BR>
    Awards:<BR>
    Number of<BR>
    Securities<BR>
    Underlying<BR>
    Options<BR>
    (#)</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" NOWRAP STYLE="text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Exercise or<BR>
    Base Price<BR>
    of Option<BR>
    Awards<BR>
    ($/Sh)</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" NOWRAP STYLE="text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Grant Date<BR>
    Fair Value<BR>
    of Stock and<BR>
    Option<BR>
    Awards<BR>
    ($)</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Name</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Grant<BR>
    Date</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Threshold<BR>
    ($)</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Target<BR>
    ($)</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Maximum<BR>
    ($)</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>

<TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>

<TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>

<TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>

<TD STYLE="text-align: center; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD NOWRAP STYLE="width: 28%; text-align: left"><FONT STYLE="font-size: 8pt">Edward R. Rosenfeld</FONT></TD><TD STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-size: 8pt">03/14/12</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-size: 8pt">2,152,968</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">(1)</FONT></TD><TD STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-size: 8pt">20,000</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 2%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-size: 8pt">883,400</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Arvind Dharia</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">02/08/12</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,004,718</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">(1)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">10,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">409,300</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">04/02/12</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">5,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">213,750</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Awadhesh Sinha</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">03/14/12</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,004,718</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">(1)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">7,500</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">331,275</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Robert Schmertz</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">n/a</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,004,718</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">(1)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Amelia Newton Varela (2)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">03/14/12</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">63,351</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">(3)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">11,473</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">506,762</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">n/a</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,004,718</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">(1)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1) The amount
shown is the maximum potential amount that might have been payable from the cash bonus pool established for the 2012 Fiscal Year.
See the discussion of the cash bonus pool and the individual target awards of each of the Named Executive Officers appearing above
in the &ldquo;Annual Performance-Based Cash Bonus - Based on Specific Performance Metrics&rdquo; section of &ldquo;Compensation
Structure.&rdquo; As disclosed therein, the Company paid these performance bonuses in cash and restricted shares of Common Stock
on March 15, 2013. Accordingly, Messrs. Rosenfeld, Dharia, Sinha and Schmertz received performance-based cash bonuses of $250,000,
$250,000, $250,000 and $100,000, respectively, and Mr. Rosenfeld, Mr. Schmertz and Ms. Varela received grants of 20,000, 11,043
and 10,000 restricted shares of Common Stock, respectively. Ms. Varela did not receive a cash bonus from the 2012 cash bonus pool.
In accordance with applicable SEC rules, the Summary Compensation Table included in this Proxy Statement reflects these cash bonuses,
while the restricted stock awards will appear in the Summary Compensation Table to be included in our proxy statement for our
2014 Annual Meeting of Stockholders provided the restricted stock award recipient is a named executive officer in that proxy statement.</FONT></P>

<!-- Field: Page; Sequence: 38; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2)
Ms. Varela is a party to an employment agreement with the Company entered into on January 31, 2011. Such employment agreement
provides that the executive officer will receive a cash bonus under the Company&rsquo;s 2006 Plan based on the Company&rsquo;s
performance in the immediately prior fiscal year, as measured by specified metrics. The employment agreement provides for such
bonuses over several years corresponding to the term of such employment agreement. Since the performance metrics for each year&rsquo;s
awards are set forth in the employment agreement of the executive officer, the date of such employment agreement is indicated
as the grant date of the award.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3) Under
an employment agreement dated January 31, 2011 between the Company and Ms. Varela, Ms. Varela is entitled to receive a cash bonus
under the Company&rsquo;s 2006 Plan on or about March 15, 2013 in an amount equal to 2% of the increase, if any, in the Wholesale
division EBIT for the 2012 fiscal year over the Wholesale division EBIT for the 2011 fiscal year. Since it would not be possible
to determine the amount of Ms. Varela&rsquo;s cash bonus, if any, until the completion of the Company&rsquo;s 2012 fiscal year,
the amount indicated as the target bonus payout is a representative amount and based upon the actual increase in the EBIT performance
of the Company&rsquo;s Wholesale division for the 2011 fiscal year over the EBIT performance of the Wholesale division for the
2010 fiscal year. See the discussion of this grant to Ms. Varela appearing above in the &ldquo;Annual Performance-Based Cash Bonus
- Based on Specific Performance Metrics&rdquo; section of &ldquo;Compensation Structure&rdquo; and above under &ldquo;Employment
Arrangements.&rdquo; As disclosed in the Summary Compensation Table above, Ms. Varela received a cash bonus of $216,999 for 2012
EBIT performance of the Company&rsquo;s Wholesale division.</FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Plan-Based
Awards</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>1999
Stock Plan</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">As
of March 15, 1999, the Board of Directors of the Company adopted the 1999 Stock Plan (the &ldquo;1999 Plan&rdquo;), and on June
4, 1999 the Company&rsquo;s stockholders approved the adoption of the 1999 Plan. Since its adoption, the 1999 Plan has been amended,
with stockholder approval, to (i) increase the number of shares subject to the 1999 Plan, (ii) provide that the exercise price
of an option granted under the 1999 Plan shall be no less than the fair market value of the Common Stock on the date of grant
(except to the extent otherwise provided in agreements with the Company dated prior to the effective date of the amendment), and
(iii) prohibit the Board from amending the terms of any option granted pursuant to the 1999 Plan to reduce the option price. The
1999 Plan was adopted to provide a means whereby directors and selected employees, officers, agents, consultants, and independent
contractors of the Company could be granted incentive stock options and/or nonqualified stock options to purchase shares of Common
Stock, in order to attract and retain the services or advice of such directors, employees, officers, agents, consultants, and
independent contractors and to provide additional incentive for such persons to exert maximum efforts for the success of the Company
by encouraging stock ownership in the Company. As of the Record Date, options to purchase [22,502] shares of Common Stock were
outstanding under the 1999 Plan. No additional options will be granted under the 1999 Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>2006
Stock Incentive Plan</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">As
of March 10, 2006, the Board of Directors of the Company adopted the Company&rsquo;s 2006 Stock Incentive Plan and, on May 26,
2006, the Company&rsquo;s stockholders approved the adoption of the Company&rsquo;s 2006 Stock Incentive Plan. The 2006 Stock
Incentive Plan was amended in 2007 and 2008. On April 6, 2009, the Board of Directors adopted an Amended and Restated 2006 Stock
Incentive Plan and, on May 22, 2009, the Company&rsquo;s stockholders approved the Amended and Restated 2006 Stock Incentive Plan.
On April 5, 2012, the Board of Directors approved an amendment of the Amended and Restated 2006 Stock Incentive Plan primarily
to increase the number of shares of Common Stock available for issuance thereunder by 6,500,000 shares, subject to stockholder
approval of such amendment. The amendment to the Amended and Restated 2006 Stock Incentive Plan was approved by the Company&rsquo;s
stockholders at the 2012 Annual Meeting of Stockholders on May 25, 2012.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company&rsquo;s Amended and Restated 2006 Stock Incentive Plan is referred to as the &ldquo;2006 Plan&rdquo; throughout this Proxy
Statement. The purpose of the 2006 Plan is to enhance the profitability and value of the Company for the benefit of its stockholders
by enabling the Company to offer eligible employees, consultants and non-employee directors cash and stock-based incentives in
the Company to attract, retain and reward such individuals and strengthen the mutuality of interests between such individuals
and the Company&rsquo;s stockholders.</FONT></P>

<!-- Field: Page; Sequence: 39; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">The
maximum number of shares of Common Stock available for issuance under the 2006 Plan is 15,644,000 shares</FONT>. <FONT STYLE="color: black">As
of the Record Date, there were outstanding [2,971,375] unvested shares of restricted stock and options to purchase [2,453,727]
shares of Common Stock; options had been exercised, or restricted stock had vested, with respect to [6,373,775] shares of Common
Stock; and [3,845,123] shares of Common Stock remained available for grant under the 2006 Plan. </FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa029_v1"></A>OUTSTANDING EQUITY AWARDS AT END OF THE 2012 FISCAL YEAR</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
following table sets forth information concerning unexercised stock options, restricted stock that has not vested and stock awards
outstanding for each of the Named Executive Officers as of the end of the 2012 Fiscal Year. All awards that occurred prior to
the three-for-two split of the Company&rsquo;s Common Stock effectuated as a stock dividend on or about April 30, 2010 and the
three-for-two split of the Company&rsquo;s Common Stock effectuated as a stock dividend on or about May 31, 2011 have been adjusted
to account for each such stock split, as applicable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 8.65pt; text-align: center; text-indent: -8.65pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 8.65pt; text-align: center; text-indent: -8.65pt; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="font-size: 7pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt"><B>Option Awards</B></FONT></TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="11" STYLE="font-size: 7pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt"><B>Stock Awards</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 8.65pt; font-size: 7pt; text-align: left; text-indent: -8.65pt"><FONT STYLE="font-size: 7pt">Name</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">Number of </FONT><BR>
<FONT STYLE="font-size: 7pt">Securities </FONT><BR>
<FONT STYLE="font-size: 7pt">Underlying</FONT><BR>
<FONT STYLE="font-size: 7pt">Unexercised</FONT><BR>
<FONT STYLE="font-size: 7pt">Options</FONT><BR>
<FONT STYLE="font-size: 7pt">(#)</FONT><BR>
<FONT STYLE="font-size: 7pt">Exercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">Number of</FONT><BR>
<FONT STYLE="font-size: 7pt">securities</FONT><BR>
<FONT STYLE="font-size: 7pt">Underlying</FONT><BR>
<FONT STYLE="font-size: 7pt">Unexercised</FONT><BR>
<FONT STYLE="font-size: 7pt">Options</FONT><BR>
<FONT STYLE="font-size: 7pt">(#)</FONT><BR>
<FONT STYLE="font-size: 7pt">Unexercisable</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">Equity</FONT><BR>
<FONT STYLE="font-size: 7pt">Incentive Plan</FONT><BR>
<FONT STYLE="font-size: 7pt">Awards: </FONT><BR>
<FONT STYLE="font-size: 7pt">Number of</FONT><BR>
<FONT STYLE="font-size: 7pt">Securities</FONT><BR>
<FONT STYLE="font-size: 7pt">Underlying</FONT><BR>
<FONT STYLE="font-size: 7pt">Unexercised</FONT><BR>
<FONT STYLE="font-size: 7pt">Unearned</FONT><BR>
<FONT STYLE="font-size: 7pt">Options</FONT><BR>
<FONT STYLE="font-size: 7pt">(#)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">Option</FONT><BR>
<FONT STYLE="font-size: 7pt">Exercise </FONT><BR>
<FONT STYLE="font-size: 7pt">Price</FONT><BR>
<FONT STYLE="font-size: 7pt">($)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">Option</FONT><BR>
<FONT STYLE="font-size: 7pt">Expiration</FONT><BR>
<FONT STYLE="font-size: 7pt">Date</FONT></TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 7pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">Number of Shares </FONT><BR>
<FONT STYLE="font-size: 7pt">or Units of </FONT><BR>
<FONT STYLE="font-size: 7pt">Stock That</FONT><BR>
<FONT STYLE="font-size: 7pt">Have Not</FONT><BR>
<FONT STYLE="font-size: 7pt">Vested</FONT><BR>
<FONT STYLE="font-size: 7pt">(#)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">Market Value of </FONT><BR>
<FONT STYLE="font-size: 7pt">Shares or Units of </FONT><BR>
<FONT STYLE="font-size: 7pt">Stock That </FONT><BR>
<FONT STYLE="font-size: 7pt">Have Not Vested</FONT><BR>
<FONT STYLE="font-size: 7pt">($)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">Equity
</FONT><BR>
<FONT STYLE="font-size: 7pt">Incentive</FONT><BR>
<FONT STYLE="font-size: 7pt">Plan </FONT><BR>
<FONT STYLE="font-size: 7pt">Awards:</FONT><BR>
<FONT STYLE="font-size: 7pt">Number of</FONT><BR>
<FONT STYLE="font-size: 7pt">Unearned </FONT><BR>
<FONT STYLE="font-size: 7pt">Shares, Units </FONT><BR>
<FONT STYLE="font-size: 7pt">or Other</FONT><BR>
<FONT STYLE="font-size: 7pt">Rights that </FONT><BR>
<FONT STYLE="font-size: 7pt">Have Not <BR>
Vested</FONT><BR>
<FONT STYLE="font-size: 7pt">(#)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">Equity</FONT><BR>
<FONT STYLE="font-size: 7pt">Incentive Plan</FONT><BR>
<FONT STYLE="font-size: 7pt">Awards:</FONT><BR>
<FONT STYLE="font-size: 7pt">Market or</FONT><BR>
<FONT STYLE="font-size: 7pt">Payout Value of</FONT><BR>
<FONT STYLE="font-size: 7pt">Unearned</FONT><BR>
<FONT STYLE="font-size: 7pt">Shares, Units or</FONT><BR>
<FONT STYLE="font-size: 7pt">Other Rights</FONT><BR>
<FONT STYLE="font-size: 7pt">That Have Not</FONT><BR>
<FONT STYLE="font-size: 7pt">Vested</FONT><BR>
<FONT STYLE="font-size: 7pt">($)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 8.65pt; font-size: 7pt; text-indent: -8.65pt; width: 8%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center; width: 6%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center; width: 6%">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center; width: 8%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center; width: 4%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center; width: 5%">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center; width: 6%">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center; width: 10%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center; width: 10%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center; width: 9%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD NOWRAP STYLE="padding-left: 8.65pt; font-size: 7pt; text-indent: -8.65pt"><FONT STYLE="font-size: 7pt">Edward R. Rosenfeld&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">42,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">18,000</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">(1)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 7pt">8.0733</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">3/24/2015</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">87,500</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">(2)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">3,698,625</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">168,750</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">56,250</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">(1)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 7pt">8.3467</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">4/1/2016</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.65pt; font-size: 7pt; text-indent: -8.65pt"><FONT STYLE="font-size: 7pt">Arvind Dharia&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">17,500</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">22,500</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">(3)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 7pt">8.3467</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">4/1/2016</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">37,050</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">(4)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">1,566,104</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.65pt; font-size: 7pt; text-indent: -8.65pt"><FONT STYLE="font-size: 7pt">Awadhesh Sinha</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">25,000</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">(5)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">1,056,750</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.65pt; font-size: 7pt; text-indent: -8.65pt"><FONT STYLE="font-size: 7pt">Robert Schmertz</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">42,187</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">(6)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 7pt">8.3467</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">4/1/2016</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">8,438</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">(7)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">356,674</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">45,002</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">(6)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 7pt">16.4866</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">10/8/2016</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.65pt; font-size: 7pt; text-indent: -8.65pt"><FONT STYLE="font-size: 7pt">Amelia Newton Varela&#9;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">22,501</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">22,501</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">(8)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 7pt">8.5866</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">4/29/2015</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">11,473</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">(9)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">484,964</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">42,189</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">(8)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 7pt">8.3467</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">4/1/2016</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">11,250</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">33,751</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">(8)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 7pt">21.6867</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">4/1/2017</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 8.65pt; text-indent: -8.65pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">112,500</FONT></TD>
    <TD STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">(8)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 7pt">25.4467</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">2/1/2018</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 7pt; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">(1) On March 24, 2008, Mr. Rosenfeld was granted an option
to purchase 90,000 shares of the Company&rsquo;s Common Stock under the Company&rsquo;s 2006 Plan, which option vests in five equal
annual installments commencing on the first anniversary of the date of grant. On April 1, 2009, Mr. Rosenfeld was granted an option
to purchase 225,000 shares of the Company&rsquo;s Common Stock under the Company&rsquo;s 2006 Plan, which option vests in four
equal annual installments commencing on the first anniversary of the date of grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in">(2) On November 10, 2009, Mr. Rosenfeld was awarded 112,500
shares of restricted Common Stock, which shares vest in five equal annual installments commencing on the first anniversary of the
date awarded. On March 16, 2011, Mr. Rosenfeld was awarded 30,000 shares of restricted Common Stock, which shares vest in four
equal annual installments commencing on the first anniversary of the date awarded. On March 14, 2012, Mr. Rosenfeld was awarded
20,000 shares of restricted Common Stock, which shares vest in five equal annual installments commencing on the first anniversary
of the date awarded.</P>

<!-- Field: Page; Sequence: 40; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 0.22in; margin-left: 0">(3) On April 1, 2009, Mr. Dharia was granted an option
to purchase 90,000 shares of the Company&rsquo;s Common Stock under the Company&rsquo;s 2006 Plan, which option vests in four
equal annual installments commencing on the first anniversary of the date of grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">(4) On March 9, 2010, Mr. Dharia was awarded 18,000
shares of restricted Common Stock, which shares vest in five equal annual installments commencing on April 1, 2011. On March 16,
2011, Mr. Dharia was awarded 15,000 shares of restricted Common Stock, which shares vest in four equal annual installments commencing
on the first anniversary of the date awarded. On February 8, 2012, Mr. Dharia was awarded 10,000 shares of restricted Common Stock,
which shares vest in three substantially equal annual installments commencing on the first anniversary of the date awarded. On
April 2, 2012, Mr. Dharia was awarded 5,000 shares of restricted Common Stock, which shares vest in five equal annual installments
commencing on the first anniversary of the date awarded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">(5) On December 1, 2010, Mr. Sinha was awarded 52,500 shares of restricted
Common Stock, which shares vest in three equal annual installments commencing on the first anniversary of the date awarded. On
March 14, 2012, Mr. Sinha was awarded 7,500 shares of restricted Common Stock, which shares vest in five equal annual installments
commencing on the first anniversary of the date awarded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">(6) On April 1, 2009, Mr. Schmertz was granted an option to
purchase 168,750 shares of the Company&rsquo;s Common Stock under the Company&rsquo;s 2006 Plan, which option vests in four equal
annual installments commencing on the first anniversary of the date of grant. On October 8, 2009, Mr. Schmertz was granted an option
to purchase 112,500 shares of the Company&rsquo;s Common Stock under the Company&rsquo;s 2006 Plan, which option vests in five
equal annual installments commencing on the first anniversary of the date of grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">(7) On March 16, 2011, Mr. Schmertz was awarded 11,250 shares
of restricted Common Stock, which shares vest in four equal annual installments commencing on the first anniversary of the date
awarded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">(8) On April 29, 2008, Ms. Varela was granted an option to
purchase 112,500 shares of the Company&rsquo;s Common Stock under the Company&rsquo;s 2006 Plan, which option vests in five equal
annual installments commencing on the first anniversary of the date of grant. On April 1, 2009, Ms. Varela was granted an option
to purchase 168,750 shares of the Company&rsquo;s Common Stock under the Company&rsquo;s 2006 Plan, which option vests in four
equal annual installments commencing on the first anniversary of the date of grant. On April 1, 2010, Ms. Varela was granted an
option to purchase 56,250 shares of the Company&rsquo;s Common Stock under the Company&rsquo;s 2006 Plan, which option vests in
five equal annual installments commencing on the first anniversary of the date of grant. On February 1, 2011, Ms. Varela was granted
an option to purchase 150,000 shares of the Company&rsquo;s Common Stock under the Company&rsquo;s 2006 Plan, which option vests
in four equal annual installments commencing on the first anniversary of the date of grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0">(9) On March 14, 2012, Ms. Varela was awarded
11,473 shares of restricted Common Stock, which shares vest in five substantially equal annual installments commencing on the
first anniversary of the date awarded.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa030_v1"></A>OPTION EXERCISES AND STOCK VESTED IN THE 2012 FISCAL YEAR</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
following table sets forth information concerning stock options exercised and restricted stock vested during the 2012 Fiscal Year
for each of the Named Executive Officers. The value realized from exercised options is deemed to be the market value of the Common
Stock on the date of exercise, less the exercise price of the option, multiplied by the number of shares of Common Stock underlying
the option. The value realized from the vesting of restricted stock is deemed to be the market value of the Common Stock on the
date of vesting multiplied by the number of shares vesting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Option Awards</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Stock Awards</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid">Name</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Number of Shares </FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Acquired on Exercise<BR> (#)</FONT></P>

</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Value Realized</FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">on Exercise<BR> ($)</FONT></P>

</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Number of Shares</FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Acquired on Vesting<BR> (#)</FONT></P>

</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Value Realized on Vesting<BR> ($)</FONT></P>

</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="width: 30%; text-align: left">Edward R. Rosenfeld</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; text-align: right">&mdash;</TD><TD STYLE="width: 3%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">&mdash;</TD><TD STYLE="width: 2%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; text-align: right">39,000</TD><TD STYLE="width: 3%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%; text-align: right">1,658,700</TD><TD STYLE="width: 3%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="text-align: left">Arvind Dharia</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69,002</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,393,789</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,350</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">696,825</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="text-align: left">Awadhesh Sinha</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">778,925</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="text-align: left">Robert Schmertz</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">87,188</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,356,277</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47,812</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,082,747</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="text-align: left">Amelia Newton Varela</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">79,686</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,183,010</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>


<!-- Field: Page; Sequence: 41; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center; text-indent: 0.5in"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa031_v1"></A>SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
following table sets forth information as of December 31, 2012 with respect to compensation plans (including individual compensation
arrangements) under which shares of Common Stock are authorized for issuance, aggregated as follows:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">&#9679;&#9;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">All compensation plans previously
    approved by security holders; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">&#9679;&#9;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">All compensation plans not
    previously approved by security holders.</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa032_v1"></A>EQUITY COMPENSATION PLAN INFORMATION</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; background-color: White">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Number
of </FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">securities to be </FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">issued upon </FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">exercise of </FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">outstanding options, </FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">warrants and rights<BR>
(#)</FONT></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Weighted
average </FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">exercise price of </FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">outstanding options, </FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">warrants and rights<BR>
($)</FONT></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Number
of securities </FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">remaining available </FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">for future issuance </FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">under equity </FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">compensation plans </FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">(excluding securities </FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">reflected in</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">column (a))<BR>
(#)</FONT></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: black; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">(a)</FONT></TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: black; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">(b)</FONT></TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: black; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">(c)</FONT></TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="width: 61%; color: black; text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Equity compensation plans approved by security holders</TD><TD STYLE="width: 3%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; color: black; text-align: right">2,269,000</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 3%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; color: black; text-align: right">20.57</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 3%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; color: black; text-align: right">4,512,000</TD><TD STYLE="width: 1%; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; text-indent: -8.8pt; padding-left: 8.8pt">Equity compensation plans not approved by security holders</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&mdash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&mdash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">&mdash;</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="color: black">Total</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">2,269,000</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">20.57</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">4,512,000</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Termination,
Change in Control and Non-Competition/Non-Solicitation</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
employment agreements for each of the Named Executive Officers provide for a severance payment upon a termination of employment
in connection with a change-in-control of the Company. The employment agreements of Messrs. Rosenfeld, Dharia and Sinha also provide
for severance payment if the executive terminates his employment for good reason in connection with a change-in-control event.
The change-in-control severance payments may result in the application of the &ldquo;golden parachute&rdquo; provisions of Section
280G of the Code and, to the extent Section 280G applies, the Company may not deduct from its taxable income the severance payments
made to the Named Executive Officer. Moreover, Section 4999 of the Code would impose a 20% excise tax on the Named Executive Officer
receiving the severance payment. In the case of Mr. Schmertz and Ms. Varela, these severance payments in connection with a change-in-control,
however, are reduced if the severance payment, when added to any other benefits triggered by a change-of-control, is determined
to constitute an &ldquo;excess parachute payment&rdquo; under Sections 280G and 4999 of the Code, to the maximum amount that is
deductible to the Company under Section 280G of the Code. In the case of Messrs. Rosenfeld, Dharia and Sinha, the executive&rsquo;s
change-in-control severance payment will only be reduced to the maximum amount that is deductible to the Company under Section
280G of the Code if the reduction provides the Named Executive Officer with the best after-tax result; otherwise, the Named Executive
officer will receive the full amount of the severance payment and other benefits triggered by the change-in-control and be liable
for the 20% excise tax on the excess parachute payment in addition to all other applicable taxes and, in such case, the deduction
by the Company of the portion of the severance payment constituting an excess parachute payment will be disallowed.</FONT></P>

<!-- Field: Page; Sequence: 42; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company&rsquo;s employment agreements with each of the Named Executive Officers also provide for severance payments to the executive
if the Company terminates the executive&rsquo;s employment without cause, or, in the case of Mr. Rosenfeld and Mr. Sinha, if the
Company gives him good reason to terminate employment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Please
see the section of this Proxy Statement captioned &ldquo;Employment Arrangements&rdquo; for a summary description of the Named
Executive Officers&rsquo; employment agreements and such severance and change-in-control provisions. These benefits are described
and quantified in the section of this Proxy Statement captioned &ldquo;Potential Payments Upon Termination or Change-In-Control&rdquo;
below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company believes that the severance payments and payments made upon change-in-control provisions in the employment agreements
provide appropriate protection to the Company&rsquo;s executives, comparable to that available at peer companies, and, with regard
to the enhanced severance following a change-in-control, protects the Company from losing key executives during a period when
a change-in-control may be threatened or pending. These benefits are described and quantified in the section below captioned &ldquo;Potential
Payments Upon Termination or Change-In-Control.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Ms.
Varela has agreed to a non-compete and non-solicitation restriction through the expiration date of her employment agreement, December
31, 2013, in the event of a voluntary termination or termination for cause. Messrs. Rosenfeld and Sinha have each agreed to a
non-compete and non-solicitation restriction during the period of his employment and for a six-month period following the termination
of his employment for cause or in the event of his resignation without good reason. Mr. Schmertz has agreed to a non-compete and
non-solicitation restriction through December 31, 2015. Mr. Dharia does not have non-compete or non-solicitation provisions in
his employment agreement.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa033_v1"></A>POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE-IN-CONTROL</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company&rsquo;s employment agreements with the Named Executive Officers provide for payments to such individuals upon termination
of employment or a change-in-control of the Company. Please see the section of this Proxy Statement captioned &ldquo;Employment
Arrangements.&rdquo; The amounts set forth in the table below shall be payable to the respective Named Executive Officer if such
Named Executive Officer&rsquo;s employment is terminated under the various scenarios set forth below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 8pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="width: 28%; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%; text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%; text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif">
    <TD NOWRAP STYLE="font: bold 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>NAME
    AND<BR> PRINCIPAL<BR> POSITION</B></FONT></TD>
    <TD NOWRAP STYLE="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>CASH<BR>
    PAYMENT</B></FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>CONTINUATION
    OF MEDICAL /<BR> WELFARE BENEFITS (PRESENT<BR> VALUE)</B></FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>ACCELERATION
    AND<BR> CONTINUATION OF<BR> EQUITY AWARD</B></FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>REDUCTION
    OF<BR> BENEFITS UPON A<BR> CHANGE-IN-CONTROL (1)</B></FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>TOTAL<BR>
    TERMINATION<BR> BENEFITS</B></FONT></TD>
    <TD NOWRAP STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>($)</B></FONT></TD>
    <TD STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>($)</B></FONT></TD>
    <TD STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>($)</B></FONT></TD>
    <TD STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>($)</B></FONT></TD>
    <TD STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>($)</B></FONT></TD>
    <TD STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204); font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>TERMINATION DUE
    TO DEATH</B></FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Edward R. Rosenfeld</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">578,813</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(2)</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">6.409</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(3)</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">585,222</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204); font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Arvind Dharia</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">554,719</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(4)</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">10,870</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(3)</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">565,589</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Awadhesh Sinha</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">575,000</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(5)</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">10,870</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(3)</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">585,870</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204); font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Robert Schmertz</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">725,000</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(6)</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">725,000</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Amelia Newton Varela</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204); font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>TERMINATION DUE
    TO TOTAL DISABILITY</B></FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Edward R. Rosenfeld</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">578,813</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(2)</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">578,813</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204); font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Arvind Dharia</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">554,719</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(4)</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">554,719</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Awadhesh Sinha</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">575,000</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(5)</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">575,000</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204); font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Robert Schmertz</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">725,000</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(6)</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">725,000</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Amelia Newton Varela</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>

</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 43; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 8pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 28%"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>NAME
    AND<BR> PRINCIPAL<BR> POSITION</B></FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>CASH<BR>
    PAYMENT</B></FONT></TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>CONTINUATION
    OF MEDICAL /<BR> WELFARE BENEFITS (PRESENT<BR> VALUE)</B></FONT></TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>ACCELERATION
    AND<BR> CONTINUATION OF<BR> EQUITY AWARD</B></FONT></TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>REDUCTION
    OF<BR> BENEFITS UPON A<BR> CHANGE-IN-CONTROL (1)</B></FONT></TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>TOTAL<BR>
    TERMINATION<BR> BENEFITS</B></FONT></TD>
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD></TR>

<TR STYLE="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>($)</B></FONT></TD>
    <TD STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>($)</B></FONT></TD>
    <TD STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>($)</B></FONT></TD>
    <TD STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>($)</B></FONT></TD>
    <TD STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>($)</B></FONT></TD>
    <TD STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204); font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>TERMINATION
    FOR CAUSE; RESIGNATION WITHOUT GOOD REASON</B></FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Edward R. Rosenfeld</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204); font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Arvind Dharia</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Awadhesh Sinha</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204); font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Robert Schmertz</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Amelia Newton Varela</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: right; font: 8pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="font-weight: bold"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>TERMINATION OTHER THAN FOR CAUSE; RESIGNATION
    FOR GOOD REASON</B></FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Edward R. Rosenfeld</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">1,824,709</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(7)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">1,824,709</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Arvind Dharia</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">1,109,438</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(8)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">94,833</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(9)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">1,204,271</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Awadhesh Sinha</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">575,000</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(10)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">575,000</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Robert Schmertz</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">1,450,000</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(11)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">1,450,000</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Amelia Newton Varela</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">450,000</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(12)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">450,000</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="font-weight: bold"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>TERMINATION UPON A CHANGE-IN-CONTROL</B></FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Edward R. Rosenfeld</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">4,324,250</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(13)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">6,222,334</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(14)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(1,390,505</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">10,546,584</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(17)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Arvind Dharia</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">1,814,157</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(15)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">2,329,378</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(14)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">4,143,535</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Awadhesh Sinha</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">4,576,256</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(16)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">1,056,750</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(14)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">5,633,006</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Robert Schmertz</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">9,247,945</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(18)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">2,948,109</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(14)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(2,470,391</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">12,196,054</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(17)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Amelia Newton Varela</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">7,339,094</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(19)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&mdash;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">5,261,323</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(14)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(2,466,637</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">12,600,417</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(17)</FONT></TD>
    <TD><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.34in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
employment agreements of two <FONT STYLE="color: black">of the Named Executive Officers provide that severance payments in connection
with a change-in-control are reduced if the severance payment, when added to any other benefits triggered by a change-of-control,
is determined to constitute an &ldquo;excess parachute payment&rdquo; under Sections 280G and 4999 of the Code, to the maximum
amount that is deductible to the Company under Section 280G of the Code. The employment agreements of the remaining Named Executive
Officers indicate that the executive&rsquo;s change-in-control severance payment will only be reduced to the maximum amount that
is deductible to the Company under Section 280G of the Code if the reduction provides the Named Executive Officer with the best
after-tax result; otherwise, the Named Executive officer will receive the full amount of the severance payment and other benefits
triggered by the change-in-control and be liable for the 20% excise tax on the excess parachute payment in addition to all other
applicable taxes and, in such case, the deduction by the Company of the portion of the severance payment constituting an excess
parachute payment will be disallowed.</FONT></FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.34in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consists
of Mr. Rosenfeld&rsquo;s base salary of $578,813, $607,754 and $638,142 for the years ending December 31, 2013, 2014 and 2015,
respectively, which would be paid at regular intervals.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.34in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consists
of medical benefits.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.34in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(4)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consists
of Mr. Dharia&rsquo;s 2013 base salary of $554,719, which would be paid at regular intervals.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(5)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consists
                                                                                                                          of Mr.
                                                                                                                          Sinha&rsquo;s
                                                                                                                          2013
                                                                                                                          base
                                                                                                                          salary
                                                                                                                          of $575,000,
                                                                                                                          which
                                                                                                                          would
                                                                                                                          be paid
                                                                                                                          at regular
                                                                                                                          intervals.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.34in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(6)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consists
of Mr. Schmertz&rsquo;s 2013 base salary of $725,000, which would be paid at regular intervals.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.34in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(7)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consists
of the base salary ($578,813 for 2013) that would have been paid to Mr. Rosenfeld during the remainder of the term of his employment
until the expiration of his employment agreement on December 31, 2015. Mr. Rosenfeld would receive these payments at regular intervals.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.34in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(8)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consists
of Mr. Dharia&rsquo;s 2012 base salary of $554,719 multiplied by the number of years (and fraction of years) remaining in the
term of his employment agreement, which expires on December 31, 2014. Mr. Dharia would receive 50% of this payment immediately
and the remaining 50% would be paid to him one year later (i.e., on December 31, 2013).</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.34in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(9)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consists
of one times the sum of Mr. Dharia&rsquo;s life insurance payment ($83,963) per year) plus medical benefits ($10,870 per year).</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(10)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consists
                                                                                                                           of
                                                                                                                           the
                                                                                                                           base
                                                                                                                           salary
                                                                                                                           ($575,000)
                                                                                                                           for
                                                                                                                           the
                                                                                                                           year
                                                                                                                           ending
                                                                                                                           December
                                                                                                                           31,
                                                                                                                           2013
                                                                                                                           that
                                                                                                                           would
                                                                                                                           have
                                                                                                                           been
                                                                                                                           paid
                                                                                                                           to
                                                                                                                           Mr.
                                                                                                                           Sinha
                                                                                                                           during
                                                                                                                           the
                                                                                                                           remainder
                                                                                                                           of
                                                                                                                           the
                                                                                                                           term
                                                                                                                           of
                                                                                                                           his
                                                                                                                           employment
                                                                                                                           until
                                                                                                                           the
                                                                                                                           expiration
                                                                                                                           of
                                                                                                                           his
                                                                                                                           employment
                                                                                                                           agreement
                                                                                                                           on
                                                                                                                           December
                                                                                                                           31,
                                                                                                                           2013.
                                                                                                                           Mr.
                                                                                                                           Sinha
                                                                                                                           would
                                                                                                                           receive
                                                                                                                           these
                                                                                                                           payments
                                                                                                                           at
                                                                                                                           regular
                                                                                                                           intervals.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.34in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(11)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consists
of an annual base salary of $725,000 that would have been paid to Mr. Schmertz during the remainder of the term of his employment
until the expiration of his employment agreement on December 31, 2014. Mr. Schmertz would receive these payments at regular intervals.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.34in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(12)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consists
of the base salary of $450,000 that would have been paid to Ms. Varela during the remainder of the term of her employment until
the expiration of her employment agreement on December 31, 2013. Ms. Varela would receive these payments at regular intervals.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.34in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(13)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consists
of three times the average total compensation Mr. Rosenfeld actually received for the preceding three calendar years, except that
in lieu of the actual base salary component received during such period, there has been substituted the annual base salary to
which Mr. Rosenfeld was entitled as of the date of termination or resignation. Upon a change-in-control, payments (or portions
thereof) to Mr. Rosenfeld determined to constitute an &ldquo;excess parachute payment&rdquo; may be reduced to the maximum amount
that would be tax deductible by the Company pursuant to Sections 280G of the Code. Upon a hypothetical December 31, 2012 change-in-control,
this amount would have been reduced by $1,390,505 to reflect the maximum amount that would be tax deductible by the Company pursuant
to Section 280G of the Code. <FONT STYLE="color: black">See the &ldquo;Implications of Tax and Accounting Matters&rdquo; section
of &ldquo;Compensation Discussion and Analysis&rdquo; for a discussion of the applicability of Sections 280G and 4999 of the Code
to change-in-control payments generally. See also the summary of Mr. Rosenfeld&rsquo;s employment agreement under &ldquo;Employment
Arrangements.&rdquo;</FONT></FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.34in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(14)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
amount disclosed represents the total value of the restricted stock and stock options which would have received accelerated vesting
upon a hypothetical change in control on December 31, 2012.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.34in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(15)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consists
of three times the total compensation Mr. Dharia actually received for the preceding twelve calendar months, except that in lieu
of the actual base salary component received during such period, there has been substituted the annual base salary to which Mr.
Dharia was entitled as of the date of termination or resignation. Upon a change-in-control, payments (or portions thereof) to
Mr. Dharia determined to constitute an &ldquo;excess parachute payment&rdquo; may be subject to reduction to the maximum amount
that would be tax deductible by the Company pursuant to Sections 280G of the Code. Upon a hypothetical December 31, 2012 change-in-control,
no payments to Mr. Dharia would have been subject to reduction. <FONT STYLE="color: black">See the &ldquo;Implications of Tax
and Accounting Matters&rdquo; section of &ldquo;Compensation Discussion and Analysis&rdquo; for a discussion of the applicability
of Sections 280G and 4999 of the Code to change-in-control payments generally. See also the summary of Mr. Dharia&rsquo;s employment
agreement under &ldquo;Employment Arrangements.&rdquo;</FONT></FONT></TD>
</TR></TABLE>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 44; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.34in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(16)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consists
of three times the sum of base compensation and certain benefits Mr. Sinha actually received for the preceding twelve calendar
months, except that in lieu of the actual base salary component received during such period, there has been substituted the annual
base salary to which Mr. Sinha was entitled as of the date of termination or resignation. Upon a change-in-control, payments (or
portions thereof) to Mr. Sinha determined to constitute an &ldquo;excess parachute payment&rdquo; may be subject to reduction
to the maximum amount that would be tax deductible by the Company pursuant to Sections 280G of the Code. Upon a hypothetical December
31, 2012 change-in-control, no payments to Mr. Sinha would have been subject to reduction. <FONT STYLE="color: black">See the
&ldquo;Implications of Tax and Accounting Matters&rdquo; section of &ldquo;Compensation Discussion and Analysis&rdquo; for a discussion
of the applicability of Sections 280G and 4999 of the Code to change-in-control payments generally. See also the summary of Mr.
Sinha&rsquo;s employment agreement under &ldquo;Employment Arrangements.&rdquo;</FONT></FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.34in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(17)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
total amount does not include the amount deducted pursuant to Section 280G of the Code.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.34in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(18)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consists
of three times the average total compensation Mr. Schmertz actually received for the preceding three calendar years. Upon a hypothetical
December 31, 2012 change-in-control, this amount would have been reduced by $2,470,391 to reflect the maximum amount that would
be tax deductible by the Company pursuant to Section 280G of the Code. <FONT STYLE="color: black">See the &ldquo;Implications
of Tax and Accounting Matters&rdquo; section of &ldquo;Compensation Discussion and Analysis&rdquo; for a discussion of the applicability
of Sections 280G and 4999 of the Code to change-in-control payments generally. See also the summary of Mr. Schmertz&rsquo;s employment
agreement under &ldquo;Employment Arrangements.&rdquo;</FONT></FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.34in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(19)</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consists
of three times the average total compensation Ms. Varela actually received for the preceding three calendar years. Upon a hypothetical
December 31, 2012 change-in-control, this amount would have been reduced by $2,466,583 to reflect the maximum amount that would
be tax deductible by the Company pursuant to Section 280G of the Code. <FONT STYLE="color: black">See the &ldquo;Implications
of Tax and Accounting Matters&rdquo; section of &ldquo;Compensation Discussion and Analysis&rdquo; for a discussion of the applicability
of Sections 280G and 4999 of the Code to change-in-control payments generally. See also the summary of Ms. Varela&rsquo;s employment
agreement under &ldquo;Employment Arrangements.&rdquo;</FONT></FONT></TD>
</TR></TABLE>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0 0 10pt;text-indent: -0.5in"></P>



<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase"><B><A
NAME="smpa034_v1"></A>Compensation
Committee Report</B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Compensation Committee has reviewed and discussed the Compensation Discussion and Analysis with management, and based on the review
and discussions, the Compensation Committee recommended to the Board of Directors that the Compensation Discussion and Analysis
be included in this Proxy Statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Submitted
by the Compensation Committee of the Company&rsquo;s Board of Directors:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 40%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Peter Migliorini (Chairman)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Thomas H. Schwartz</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
</TABLE>


<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><A
NAME="smpa035_v1"></A>PROPOSAL
TWO:</B></FONT><BR>
<BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>APPROVAL OF AN AMENDMENT TO</B></FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>THE CERTIFICATE OF INCORPORATION OF STEVEN MADDEN, LTD.</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Under
the Company&rsquo;s Certificate of Incorporation, we are authorized to issue 65,000,000 shares of stock, 60,000,000 of which shares
have been designated as shares of Common Stock and 5,000,000 of which shares have been designated as shares of preferred stock.
Our Board of Directors has determined that it is in the best interests of the Company and our stockholders to amend our Certificate
of Incorporation to increase the total number of shares of Common Stock that the Company is authorized to issue by 75,000,000
shares from 60,000,000 shares to 135,000,000 shares. The Board of Directors has unanimously approved the proposed amendment to
the Certificate of Incorporation subject to approval of our stockholders and recommends that the stockholders approve and adopt
such amendment. The following resolution is submitted for stockholder approval:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&ldquo;RESOLVED</B>,
that the Certificate of Incorporation of Steven Madden, Ltd. (the &lsquo;Company&rsquo;) be, and it hereby is, amended by deleting
the first paragraph of Article FOURTH thereof and substituting in lieu thereof a new first paragraph to read as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.5in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">FOURTH:
The total number of shares of all classes of stock which the corporation shall have authority to issue is one hundred forty million
(140,000,000) shares, consisting of one hundred thirty-five million (135,000,000) shares of common stock, $0.0001 par value per
share, and five million (5,000,000) shares of preferred stock, $0.0001 par value per share.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.5in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1.5in 0 0.5in; text-align: justify">; <FONT STYLE="font: 10pt Times New Roman, Times, Serif">and
that such amendment is hereby authorized, approved and adopted as and for the action of the stockholders of the
Company.&rdquo;</FONT></P>

<!-- Field: Page; Sequence: 45; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
the amendment to the Certificate of Incorporation is approved by our stockholders, the amendment will become effective upon the
filing of a certificate of amendment with the Secretary of State of the State of Delaware, which filing is expect to occur promptly
after the Annual Meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Purpose
of the Amendment</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
purpose of the amendment to the Company&rsquo;s Certificate of Incorporation is to increase the total number of shares of Common
Stock that the Company is authorized to issue from 60,000,000 shares to 135,000,000 shares. Of our Company&rsquo;s 60,000,000
authorized shares of Common Stock, [46,475,175] shares were outstanding as of the Record Date, and, after taking into account
shares underlying outstanding stock options, shares reserved for issuance under our equity-based compensation plans and shares
held in Treasury, approximately [7,056,975] of the 60,000,000 shares of Common Stock authorized under our Certificate of Incorporation
remain available for issuance.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Board of Directors believes that the amendment is advisable and in the best interests of our Company and our stockholders in order
to maintain our flexibility in considering and planning for future corporate needs in today&rsquo;s competitive and fast-changing
environment. The Board believes that the authorized Common Stock should be increased to provide sufficient shares for general
corporate purposes as may be determined by the Board of Directors in the exercise of its discretion such as for stock splits like
those effected by the Company in 2011 and 2010. These purposes may include future stock splits, the issuance of Common Stock to
facilitate potential acquisitions of or mergers with other companies, acquisitions of businesses or product lines, attracting
and retaining employees by the issuance of additional securities under our various equity compensation plans and other transactions
and such other corporate purposes that the Board of Directors deems are in our Company&rsquo;s best interests. The Board of Directors
believes that additional authorized shares of Common Stock would enable us to take timely advantage of market conditions and favorable
opportunities that may arise for these types of transactions, in most cases without the delay and expense associated with convening
a special meeting of stockholders before such issuances. Other than issuances pursuant to employee benefit plans, as of the date
of this Proxy Statement we have no current plans, commitments, agreements, arrangements or understandings regarding the issuance
of additional shares of Common Stock that would be authorized pursuant to this proposal. However, we review and evaluate potential
transactions and other corporate actions on an ongoing basis to determine if such actions would be in the best interests of our
Company and our stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Possible
Effects of the Amendment to the Company&rsquo;s Certificate of Incorporation</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Upon
issuance, the additional shares of authorized Common Stock would have rights identical to the currently outstanding shares of
Common Stock. Adoption of the amendment would not have immediate dilutive effect on the proportionate voting power or other rights
of existing stockholders. However, as is true for shares presently authorized but unissued, the future issuance of Common Stock
authorized by the amendment may, among other things, dilute the earnings per share of the Common Stock, decrease existing stockholders&rsquo;
percentage equity ownership and, depending on the price at which they are issued, could be dilutive to the voting rights of existing
stockholders and have a negative effect on the market price of the Common Stock. Current stockholders have no preemptive or similar
rights, which means that current stockholders do not have a prior right to purchase any new issue of Common Stock in order to
maintain their proportionate ownership thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
have not proposed the increase in the number of authorized shares of Common Stock with the intention of using the additional authorized
shares for anti-takeover purposes but our Company would be able to use the additional shares to oppose a hostile takeover attempt
or delay or prevent changes in control or management of our Company. For example, without further stockholder approval, the Board
of Directors could sell shares of Common Stock in a private transaction to purchasers who would oppose a takeover or favor our
current Board of Directors. Such a sale could have the effect of discouraging an attempt by another person or entity, through
the acquisition of a substantial number of shares of our Common Stock, to acquire our Company since the issuance could be used
to dilute the stock ownership of the acquirer. Although this proposal to increase the number of shares of authorized Common Stock
has been prompted by business and financial considerations and not by any threat of any known or threatened hostile takeover attempt,
stockholders should be aware that approval of this proposal could facilitate future attempts by our Company to oppose changes
in control of our Company and perpetuate our management, including transactions in which the stockholders might otherwise receive
a premium for their shares over then current market prices.</FONT></P>

<!-- Field: Page; Sequence: 46; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
could also use the additional shares of common stock for potential strategic transactions, including, among other things, acquisitions,
strategic partnerships, joint ventures, restructurings, business combinations and investments although we have no immediate plans
to do so. We cannot provide assurances that any such transactions will be consummated on favorable terms or at all, that they
will enhance stockholder value or that they will not adversely affect our business or the trading price of the common stock. Any
such transactions may require our Company to incur non-recurring or other charges and may pose significant integration challenges
and/or management and business disruptions, any of which could materially and adversely affect our business and financial results.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our
Board of Directors is also authorized, subject to certain limitations prescribed by law, without further stockholder approval,
to issue from time to time up to an aggregate of 5,000,000 shares of preferred stock in one or more series and to fix or alter
the designations, preferences, rights and any qualifications, limitation or restrictions of shares of each such series thereof,
including the dividend rights, dividend rates, conversion rights, voting rights and terms of redemption of shares constituting
any series or designations of such series. The rights of the holders of Common Stock will be subject to and may be adversely affected
by, the rights of holders of preferred stock that may be issued in the future, Issuance of preferred stock could have the effect
of making it more difficult for a third party to acquire or of discouraging a third party from acquiring a majority of the outstanding
voting stock of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 13pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Required
Vote</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 13pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Approval
of this resolution requires the affirmative vote of the holders of a majority of the outstanding shares of Common Stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 13pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Recommendation
of the Board of Directors</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Board of Directors unanimously recommends a vote &ldquo;FOR&rdquo; the approval of the amendment to the Certificate of Incorporation
of Steven Madden, Ltd.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>



<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"><A
NAME="smpa036_v1"></A><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>PROPOSAL
THREE:</B></FONT><BR>
<BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>RATIFICATION OF THE APPOINTMENT OF EISNERAMPER LLP AS THE COMPANY&rsquo;S</B></FONT><B><BR>
INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS</B><BR>
<FONT STYLE="font-size: 10pt"><B>FOR THE FISCAL YEAR ENDING DECEMBER 31, 2013</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Audit Committee has appointed EisnerAmper LLP as the Company&rsquo;s independent registered public accounting firm to conduct
the audit of the Company&rsquo;s books and records for the fiscal year ending December 31, 2013. EisnerAmper LLP also served as
the Company&rsquo;s independent registered public accountants for the 2012 Fiscal Year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Before
making its determination on appointment, the Audit Committee carefully considers the qualifications and competence of candidates
for the independent registered public accountants. For EisnerAmper LLP, this has included a review of its performance in prior
years, its independence and processes for maintaining independence, the results of the most recent internal quality control review
or Public Company Accounting Oversight Board inspection, the key members of the audit engagement team, the firm&rsquo;s approach
to resolving significant accounting and auditing matters including consultation with the firm&rsquo;s national office, as well
as its reputation for integrity and competence in the fields of accounting and auditing. Although ratification by stockholders
is not required by the Company&rsquo;s organizational documents or other applicable law, the Audit Committee has determined that
requesting ratification by stockholders of its appointment of EisnerAmper LLP as the Company&rsquo;s independent registered public
accountants is a matter of good corporate practice. If stockholders do not ratify the selection, the Audit Committee will reconsider
whether or not to retain EisnerAmper LLP, but may still retain the accounting firm. Even if the selection is ratified, the Audit
Committee, in its discretion, may change the appointment at any time during the year if it determines that such a change would
be in the best interest of the Company and its stockholders.</FONT></P>

<!-- Field: Page; Sequence: 47; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Representatives
of EisnerAmper LLP are expected to be present at the Annual Meeting to respond to appropriate questions and to make a statement
should they so desire.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Required
Vote</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
affirmative vote of the holders of a majority of the outstanding shares of Common Stock present or represented by proxy and entitled
to vote at the Annual Meeting is required to ratify the Audit Committee&rsquo;s selection of EisnerAmper LLP.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Recommendation
of the Board of Directors</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Board of Directors unanimously recommends a vote &ldquo;FOR&rdquo; the ratification of the appointment of EisnerAmper LLP as the
Company&rsquo;s independent registered public accountants for the fiscal year ending December 31, 2013. Unless marked to the contrary,
proxies received from stockholders will be voted in favor of ratifying the appointment of EisnerAmper LLP as the Company&rsquo;s
independent registered public accountants for the fiscal year ending December 31, 2013.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Independent
Registered Public Accounting Firm&rsquo;s Fees and Services</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
aggregate fees billed to the Company by EisnerAmper LLP for professional services rendered for each of the past two years are
set forth below:&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 95%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year Ended December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2012</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2011</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="width: 74%; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Audit Fees <SUP>(1)</SUP></FONT></TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">700,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">655,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Audit-Related Fees <FONT STYLE="color: black"><SUP>(2)</SUP></FONT></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Tax Fees <FONT STYLE="color: black"><SUP>(3)</SUP></FONT></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">46,850</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt; padding-bottom: 1pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">All Other Fees <FONT STYLE="color: black"><SUP>(4)</SUP></FONT></FONT></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">148,465</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">339,000</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">Total</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">920,315</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,019,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><SUP>(1)
</SUP>Represents the aggregate fees and expenses billed for (a) the audit of the Company&rsquo;s annual financial statements,
(b) the reviews of the financial statements included in the Company&rsquo;s Quarterly Reports on Form 10-Q, (c) other statutory
and regulatory filings or engagements and (d) the audit of the Company&rsquo;s internal controls over financial reporting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><SUP>(2)
</SUP>Represents the aggregate fees billed for audit-related fees related to assurance and related services. Includes, among others,
the audit of the Company&rsquo;s employee benefit plans and other accounting related consultations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><SUP>(3)
</SUP>Represents the aggregate fees billed for tax compliance, tax advice and tax planning services. These professional services
include assistance in the preparation of the Company&rsquo;s various federal, state and local tax returns, tax consultation and
various amendments.</FONT></P>

<!-- Field: Page; Sequence: 48; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><SUP>(4)
</SUP>Represents the aggregate fees billed (a) with respect to the 2012 Fiscal Year, for (i) due diligence services rendered in
connection with two business acquisitions and (ii) out-of-pocket expenses incurred by EisnerAmper LLP in connection with services
rendered to the Company] and (b) with respect to the fiscal year ended December 31, 2011, for (ii) due diligence services rendered
in connection with three business acquisitions and (ii) out-of-pocket expenses incurred by EisnerAmper LLP in connection with
services rendered to the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Audit
Committee&rsquo;s Pre-Approval Policies and Procedures</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consistent
with SEC policies regarding auditor independence, the Audit Committee has responsibility for appointing, setting compensation
and overseeing the work of the independent registered public accountants. In recognition of this responsibility, the Audit Committee
has established a policy to review and pre-approve all audit and permissible non-audit services provided by the independent registered
public accountants. These services may include audit services, audit-related services, tax services and other services.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Prior
to engagement of the independent auditor for next year&rsquo;s audit, the Audit Committee will pre-approve all auditing services
and all permitted non-audit services (including the fees and terms thereof), except those excluded from requiring pre-approval
based upon the de minimus exception set forth in Section 10A(i)(1)(B) of the Exchange Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Audit Committee&rsquo;s pre-approval policies and procedures are as follows: (a) prior to each fiscal year, the Audit Committee
pre-approves a schedule of estimated fees for proposed non-prohibited audit and non-audit services, and (b) actual amounts paid
are monitored by financial management of the Company and reported to the Audit Committee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">All
work performed by EisnerAmper LLP as described above under the captions Audit Fees, Audit-Related Fees, Tax Fees and All Other
Fees has been approved or pre-approved by the Audit Committee pursuant to the provisions of the Audit Committee&rsquo;s charter.
The Audit Committee has considered and concluded that the provision of non-audit services is compatible with maintaining the independence
of EisnerAmper LLP.</FONT></P>

<!-- Field: Page; Sequence: 49; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: none"><B><A
NAME="smpa037_v1"></A>AUDIT COMMITTEE REPORT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Audit Committee reviewed the Company&rsquo;s audited financial statements for the 2012 Fiscal Year and met with both management
and representatives of EisnerAmper LLP, the Company&rsquo;s independent registered public accountants, to discuss such audited
financial statements. Management and the Company&rsquo;s independent registered public accountants have represented to the Audit
Committee that the financial statements were prepared in accordance with accounting principles generally accepted in the United
States of America. The Audit Committee has received from and discussed with EisnerAmper LLP the written disclosures and the letter
regarding EisnerAmper LLP&rsquo;s communications with the Audit Committee concerning independence as required by applicable requirements
of the Public Company Accounting Oversight Board, and discussed with EisnerAmper LLP the independence of EisnerAmper LLP. The
Audit Committee also discussed with EisnerAmper LLP any matters required to be discussed by Statement on Auditing Standards No.
61, as amended, as adopted by the Public Company Accounting Oversight Board in Rule 3200T. Based on<BR>
these reviews and discussions, the Audit Committee recommended to the Board that the Company&rsquo;s audited financial statements
be included in the Company&rsquo;s Annual Report on Form 10-K for the 2012 Fiscal Year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Submitted
by the Audit Committee of the Company&rsquo;s Board of Directors:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 55%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 45%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Richard P. Randall (Chairman)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Peter Migliorini</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Ravi Sachdev</FONT></TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 50; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>


<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"><A
NAME="smpa038_v1"></A><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>PROPOSAL
FOUR:</B></FONT><BR>
<BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>NON-BINDING ADVISORY VOTE ON EXECUTIVE COMPENSATION</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-transform: uppercase; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Section
14A of the Exchange Act, as created by Section 951 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the &ldquo;Dodd-Frank
Act&rdquo;), and the rules and regulations promulgated thereunder, require a publicly traded company to include a resolution in
its proxy statement at least once every three years seeking stockholder approval, on an advisory or non-binding basis, of the
compensation of the named executive officers as disclosed in such company&rsquo;s proxy statement pursuant to the compensation
rules of the SEC. At our 2011 Annual Meeting of Stockholders, the Company&rsquo;s stockholders approved, on an advisory basis,
the holding of an advisory vote to approve executive compensation (commonly known as a &ldquo;say-on-pay&rdquo; proposal) on an
annual basis. Based on these results, the Board of Directors determined to hold its advisory vote to approve executive compensation
annually until the next frequency vote, which is scheduled for the Company&rsquo;s 2017 Annual Meeting of Stockholders. Accordingly,
we are providing stockholders with a non-binding advisory vote on the compensation of our Named Executive Officers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">As
described in more detail in the Compensation Discussion and Analysis section, which begins on page [21] of this Proxy Statement,
the overall objective of the Company&rsquo;s executive compensation programs and practices is to support delivery of sustained
operating and financial performance results with the ultimate goal being to create and maximize value for our stockholders on
a long-term basis. We believe that our executive compensation programs and practices serve the interests of our stockholders by
enabling us to attract and retain <FONT STYLE="color: black">an experienced and effective management team whose combined knowledge
of our business and the footwear and accessories industry has proved extremely valuable in delivering results for our stockholders.
The Compensation Committee and the Board of Directors believe that the Company&rsquo;s compensation programs and practices as
articulated in the Compensation Discussion and Analysis section of this Proxy Statement effectively implement our </FONT>philosophy
of aligning compensation to stockholder interests and that the compensation received by our Named Executive Officers in the 2012
Fiscal Year reflects and supports such philosophy and goal and is commensurate with the performance and strategic position of
the Company. We<FONT STYLE="color: black"> will continue to review and modify our executive compensation programs to address evolving
best practices and changing regulatory require-ments. </FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We
encourage stockholders to read the Compensation Discussion and Analysis section of this Proxy Statement, as well as the Summary
Compensation Table and other related compensation tables and narrative disclosure contained in this Proxy Statement, all of which
describe and explain in detail the compensation of our Named Executive Officers in the 2012 Fiscal Year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
following resolution is submitted for stockholder approval:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 1in 0in 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&ldquo;<B>RESOLVED</B>,
that the stockholders of Steven Madden, Ltd. (the &lsquo;Company&rsquo;) approve, on a non-binding advisory basis, the compensation
paid to the Named Executive Officers of the Company as disclosed pursuant to the compensation disclosure rules of the Securities
and Exchange Commission, including the executive compensation as described in the section captioned &lsquo;Compensation Discussion
and Analysis,&rsquo; the Summary Compensation Table and related tabular disclosure and narrative discussion regarding compensation
of Named Executive Officers under the caption &lsquo;Executive Compensation&rsquo; contained in the Company&rsquo;s Proxy Statement
dated April<B> [</B>10<B>]</B>, 2013.&rdquo;</FONT></P>

<!-- Field: Page; Sequence: 51; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">This
vote is not intended to address any specific item of compensation, but rather the overall compensation of our Named Executive
Officers and the compensation programs and practices described in this Proxy Statement. While this advisory vote on executive
compensation, commonly referred to as a &ldquo;say-on-pay&rdquo; advisory vote, is required by Section 14A of the Exchange Act,
it is not binding on our Board of Directors and may not be construed as overruling any decision by the Board of Directors or the
Compensation Committee.&nbsp;&nbsp;However, we value the opinions of our stockholders. To the extent there is a significant vote
against the compensation of the Named Executive Officers as disclosed in this Proxy Statement, the Board of Directors and the
Compensation Committee will consider the outcome of the vote when considering future compensation arrangements and evaluate whether
any actions are necessary to address the stockholders&rsquo; concerns.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Required
Vote</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Approval
of this resolution requires the affirmative vote of a majority of the shares of Common Stock present or represented by proxy and
entitled to vote at the Annual Meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Recommendation
of the Board of Directors</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0in; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Board of Directors unanimously recommends a vote &ldquo;FOR&rdquo; the resolution approving the overall compensation of the Named
Executive Officers for the 2012 Fiscal Year.</FONT></P>

<!-- Field: Page; Sequence: 52; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt;"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>OTHER
MATTERS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">At
the date of this Proxy Statement, the Company has no knowledge of any business other than that described above that will be presented
at the Annual Meeting. If any other business should properly come before the Annual Meeting in connection therewith, it is intended
that the persons named in the accompanying proxy will have discretionary authority to vote the shares which they represent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A
copy of the applicable provisions of the Company&rsquo;s By-Laws may be obtained by any stockholder, without charge, upon written
request to the Secretary of the Company at the address set forth above.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">WHETHER
OR NOT YOU EXPECT TO BE PRESENT AT THE ANNUAL MEETING, PLEASE MARK, SIGN, DATE AND RETURN THE ACCOMPANYING PROXY CARD PROMPTLY.
ALTERNATIVELY, YOU MAY VOTE YOUR SHARES BY TELEPHONE OR THROUGH THE INTERNET AS DESCRIBED ON THE ACCOMPANYING PROXY CARD. YOUR
VOTE IS IMPORTANT. IF YOU ARE A STOCKHOLDER OF RECORD AND ATTEND THE ANNUAL MEETING AND WISH TO VOTE IN PERSON, YOU MAY WITHDRAW
YOUR PROXY AT ANY TIME PRIOR TO THE VOTE.</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 56%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 15%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">STEVEN
    MADDEN, LTD.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">April
    [10], 2013</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">By:</FONT></TD>
    <TD STYLE="border-bottom: black 0.75pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Arvind
    Dharia</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Secretary</FONT></TD></TR>
</TABLE>


<!-- Field: Page; Sequence: 53; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


<DIV>&nbsp;</DIV>



<P STYLE="margin: 0"></P>

<P STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><B>PRELIMINARY COPY &mdash;
SUBJECT TO COMPLETION</B></FONT></P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 24%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="width: 40%; text-align: center; border: Black 1pt solid; background-color: #EFEFEF"><IMG SRC="steve002_v1.jpg" ALT="(GRAPHIC)"></TD>
    <TD STYLE="width: 6%; padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; background-color: white; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 4%; background-color: #EFEFEF; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 24%; background-color: #EFEFEF">&nbsp;</TD>
    <TD STYLE="width: 8%; background-color: #EFEFEF">&nbsp;</TD>
    <TD STYLE="width: 6%; background-color: white; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 5%; background-color: white; padding-bottom: 1.5pt">&nbsp;</TD>

    <TD STYLE="width: 6%; background-color: white; padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #EFEFEF; font-size: 8pt; border-left: Black 1pt solid; border-top: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; background-color: #EFEFEF; border-top: Black 1pt solid; border-right: Black 1pt solid">
 <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><IMG SRC="steve001_v1.jpg" ALT="(STEVE LOGO)"><BR>
 <BR>
<B><I>STEVEN MADDEN, LTD.<BR>
 ATTN: ARVIND DHARIA<BR>
 52-16 BARNETT AVENUE<BR>
 LONG ISLAND CITY, NY 11104</I></B></P></TD>
    <TD STYLE="vertical-align: bottom; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 8pt">&nbsp;</TD>
    <TD ROWSPAN="4" STYLE="vertical-align: top">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>VOTE BY INTERNET - www.proxyvote.com</B> <BR>
Use the Internet to transmit
        your voting instructions and for electronic delivery of information up until 11:59 P.M. Eastern Time the day before the meeting
        date. Have your proxy card in hand when you access the web site and follow the instructions to obtain your records and to create
        an electronic voting instruction form.</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 8pt 0 0"><B>ELECTRONIC DELIVERY OF FUTURE PROXY MATERIALS<BR>
</B>If
you would like to reduce the costs incurred by our company in mailing proxy materials, you can consent to receiving all future
proxy statements, proxy cards and annual reports electronically via e-mail or the Internet. To sign up for electronic delivery,
please follow the instructions above to vote using the Internet and, when prompted, indicate that you agree to receive or access
proxy materials electronically in future years.</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>VOTE BY PHONE - 1-800-690-6903<BR>
</B>Use any touch-tone telephone
to transmit your voting instructions up until 11:59 P.M. Eastern Time the day before the meeting date. Have your proxy card in
hand when you call and then follow the instructions.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><B>VOTE BY MAIL<BR>
</B>Mark, sign and date your proxy card and
return it in the postage-paid envelope we have provided or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood,
NY 11717.</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P></TD>
    <TD ROWSPAN="4" STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: #EFEFEF"><IMG SRC="steve003_v1.jpg" ALT="(GRAPHIC)"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="background-color: #EFEFEF; font-size: 8pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="background-color: #EFEFEF; font-size: 8pt; border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; background-color: #EFEFEF; font-size: 8pt; border-top: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; background-color: #EFEFEF; border-top: Black 1pt solid">
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">Investor Address Line 1</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">Investor Address Line 2</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">Investor Address Line 3</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">Investor Address Line 4</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">Investor Address Line 5</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">John Sample</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">1234 ANYWHERE STREET</P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">ANY CITY, ON A1A 1A1</P></TD>
    <TD STYLE="vertical-align: bottom; background-color: #EFEFEF; font-size: 8pt; text-align: right; border-top: Black 1pt solid; border-right: Black 1pt solid"><IMG SRC="steve005_v1.jpg" ALT="(GRAPHIC)"></TD>
    <TD STYLE="vertical-align: bottom; background-color: #EFEFEF; font-size: 8pt; border-top: Black 1pt solid; border-right: Black 1pt solid"><IMG SRC="steve004_v1.jpg" ALT="(GRAPHIC)"></TD>
    <TD STYLE="vertical-align: top; font-size: 8pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>

    <TD COLSPAN="3" STYLE="vertical-align: bottom; font-size: 8pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; border-right: Black 1pt solid; background-color: #EFEFEF"><IMG SRC="steve006_v1.jpg" ALT="(GRAPHIC)"></TD>
    <TD STYLE="vertical-align: bottom; background-color: #EFEFEF; border-bottom: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>


</TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 24%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 40%"></TD>
    <TD STYLE="width: 6%; border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: #EFEFEF">&nbsp;</TD></TR>

</TABLE>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
 <TR STYLE="font-size: 10px">
 <TD STYLE="width: 50%; vertical-align: top; background-color: #EFEFEF; border-top: BLACK 0.5pt solid; border-right: BLACK 0.5pt solid; border-bottom: BLACK 0.5pt none; border-left: BLACK 0.5pt solid">
 <P>&nbsp;</P>
 </TD>
 <TD STYLE="width: 3%; vertical-align: top; background-color: #EFEFEF; border-top: BLACK 0.5pt solid">
 <P>&nbsp;</P>
 </TD>
 <TD STYLE="width: 12%; vertical-align: top; background-color: #EFEFEF; border-top: BLACK 0.5pt solid">
 <P>&nbsp;</P>
 </TD>
 <TD STYLE="width: 3%; vertical-align: top; background-color: #EFEFEF; border-top: BLACK 0.5pt solid">
 <P>&nbsp;</P>
 </TD>
 <TD STYLE="width: 10%; vertical-align: top; background-color: #EFEFEF; border-top: BLACK 0.5pt solid; border-left-style: none; border-bottom-style: none">
 <P>&nbsp;</P>
 </TD>
 <TD STYLE="width: 15%; vertical-align: top; background-color: #EFEFEF; border-top: BLACK 0.5pt solid; border-right: BLACK 0.5pt solid; border-left-style: none; border-bottom-style: none">
 <P>&nbsp;</P>
 </TD>

 </TR>
 <TR>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF; border-top-style: none; border-left: BLACK 0.5pt solid; border-bottom-style: none; border-right: BLACK 0.5pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF; border-right: BLACK 0.5pt solid">
 <P><FONT SIZE="2"><B>CONTROL #</B> </FONT> <FONT FACE="WINGDINGS" SIZE="2"><B>&#224;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" NOWRAP STYLE="vertical-align: top; background-color: #EFEFEF; border-top: BLACK 0.5pt solid; border-right: BLACK 0.5pt solid; border-bottom: BLACK 0.5pt solid; border-left: BLACK 0.5pt none">
<P ALIGN="CENTER"><FONT SIZE="2"><B>&nbsp;&nbsp;&nbsp;000000000000&nbsp;&nbsp;&nbsp;</B> </FONT> </P>
 </TD>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF; border-right: BLACK 0.5pt solid">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF; border-top-style: none; border-left: BLACK 0.5pt solid; border-bottom-style: none; border-right: BLACK 0.5pt solid">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="4" VALIGN="TOP" BGCOLOR="#EFEFEF" STYLE="border-right: BLACK 0.5pt solid">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF; border-top-style: none; border-left: BLACK 0.5pt solid; border-bottom-style: none; border-right: BLACK 0.5pt solid">
<P STYLE="margin-right: 0in; margin-left: 25.9pt; text-indent: -8.65pt"><FONT SIZE="2"><B>NAME</B> </FONT> </P>
 </TD>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="4" VALIGN="TOP" BGCOLOR="#EFEFEF" STYLE="border-right: BLACK 0.5pt solid">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF; border-top-style: none; border-left: BLACK 0.5pt solid; border-bottom-style: none; border-right: BLACK 0.5pt solid">
<P STYLE="margin-right: 0in; margin-left: 25.9pt; text-indent: -8.65pt"><FONT SIZE="2"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="4" VALIGN="TOP" BGCOLOR="#EFEFEF" STYLE="border-right: BLACK 0.5pt solid">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF; border-top-style: none; border-left: BLACK 0.5pt solid; border-bottom-style: none; border-right: BLACK 0.5pt solid">
<P STYLE="margin-right: 0in; margin-left: 25.9pt; text-indent: -8.65pt"><FONT SIZE="2"><B>THE COMPANY NAME INC. - COMMON</B> </FONT> </P>
 </TD>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" BGCOLOR="#EFEFEF">
<P><FONT SIZE="2"><B>SHARES</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" BGCOLOR="#EFEFEF" STYLE="border-right: BLACK 0.5pt solid">
<P><FONT SIZE="2"><B>123,456,789,012.12345</B> </FONT> </P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF; border-top-style: none; border-left: BLACK 0.5pt solid; border-bottom-style: none; border-right: BLACK 0.5pt solid">
<P STYLE="margin-right: 0in; margin-left: 25.9pt; text-indent: -8.65pt"><FONT SIZE="2"><B>THE COMPANY NAME INC. - CLASS A</B> </FONT> </P>
 </TD>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" BGCOLOR="#EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" BGCOLOR="#EFEFEF" STYLE="border-right: BLACK 0.5pt solid">
<P><FONT SIZE="2"><B>123,456,789,012.12345</B> </FONT> </P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF; border-top-style: none; border-left: BLACK 0.5pt solid; border-bottom-style: none; border-right: BLACK 0.5pt solid">
<P STYLE="margin-right: 0in; margin-left: 25.9pt; text-indent: -8.65pt"><FONT SIZE="2"><B>THE COMPANY NAME INC. - CLASS B</B> </FONT> </P>
 </TD>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" BGCOLOR="#EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" BGCOLOR="#EFEFEF" STYLE="border-right: BLACK 0.5pt solid">
<P><FONT SIZE="2"><B>123,456,789,012.12345</B> </FONT> </P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF; border-top-style: none; border-left: BLACK 0.5pt solid; border-bottom-style: none; border-right: BLACK 0.5pt solid">
<P STYLE="margin-right: 0in; margin-left: 25.9pt; text-indent: -8.65pt"><FONT SIZE="2"><B>THE COMPANY NAME INC. - CLASS C</B> </FONT> </P>
 </TD>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" BGCOLOR="#EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" BGCOLOR="#EFEFEF" STYLE="border-right: BLACK 0.5pt solid">
<P><FONT SIZE="2"><B>123,456,789,012.12345</B> </FONT> </P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF; border-top-style: none; border-left: BLACK 0.5pt solid; border-bottom-style: none; border-right: BLACK 0.5pt solid">
<P STYLE="margin-right: 0in; margin-left: 25.9pt; text-indent: -8.65pt"><FONT SIZE="2"><B>THE COMPANY NAME INC. - CLASS D</B> </FONT> </P>
 </TD>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" BGCOLOR="#EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" BGCOLOR="#EFEFEF" STYLE="border-right: BLACK 0.5pt solid">
<P><FONT SIZE="2"><B>123,456,789,012.12345</B> </FONT> </P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF; border-top-style: none; border-left: BLACK 0.5pt solid; border-bottom-style: none; border-right: BLACK 0.5pt solid">
<P STYLE="margin-right: 0in; margin-left: 25.9pt; text-indent: -8.65pt"><FONT SIZE="2"><B>THE COMPANY NAME INC. - CLASS E</B> </FONT> </P>
 </TD>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" BGCOLOR="#EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" BGCOLOR="#EFEFEF" STYLE="border-right: BLACK 0.5pt solid">
<P><FONT SIZE="2"><B>123,456,789,012.12345</B> </FONT> </P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF; border-top-style: none; border-left: BLACK 0.5pt solid; border-bottom-style: none; border-right: BLACK 0.5pt solid">
<P STYLE="margin-right: 0in; margin-left: 25.9pt; text-indent: -8.65pt"><FONT SIZE="2"><B>THE COMPANY NAME INC. - CLASS F</B> </FONT> </P>
 </TD>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" BGCOLOR="#EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" BGCOLOR="#EFEFEF" STYLE="border-right: BLACK 0.5pt solid">
<P><FONT SIZE="2"><B>123,456,789,012.12345</B> </FONT> </P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF; border-top-style: none; border-left: BLACK 0.5pt solid; border-bottom-style: none; border-right: BLACK 0.5pt solid">
<P STYLE="margin-right: 0in; margin-left: 25.9pt; text-indent: -8.65pt"><FONT SIZE="2"><B>THE COMPANY NAME INC. - 401 K</B> </FONT> </P>
 </TD>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" BGCOLOR="#EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" BGCOLOR="#EFEFEF" STYLE="border-right: BLACK 0.5pt solid">
<P><FONT SIZE="2"><B>123,456,789,012.12345</B> </FONT> </P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF; border-top: BLACK 0.5pt none; border-right: BLACK 0.5pt solid; border-bottom: BLACK 0.5pt solid; border-left: BLACK 0.5pt solid">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" BGCOLOR="#EFEFEF">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 <TD COLSPAN="2" VALIGN="TOP" BGCOLOR="#EFEFEF" STYLE="border-top-style: none; border-left-style: none; border-right: BLACK 0.5pt solid">
<P><FONT SIZE="1"><B>&nbsp;</B> </FONT> </P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top; border-right: BLACK 0.5pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top; background-color: #EFEFEF; border-bottom: BLACK 0.5pt solid">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD COLSPAN="4" VALIGN="TOP" BGCOLOR="#EFEFEF" STYLE="border-top-style: none; border-left-style: none; border-bottom: BLACK 0.5pt solid; border-right: BLACK 0.5pt solid">
 <P STYLE="margin-right: 0in; margin-left: 25.9pt; text-indent: -8.65pt"><FONT SIZE="1">PAGE&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OF&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD>
 <TD STYLE="vertical-align: top">
 <P><FONT SIZE="1">&nbsp;</FONT></P>
 </TD></TR></TABLE>
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" WIDTH="100%">
 <TR STYLE="font-size: 1px">
 <TD WIDTH="68%" VALIGN="TOP">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="31%" VALIGN="TOP">
 <P ALIGN="RIGHT">&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN="TOP">
 <P><FONT STYLE="font-size: 7pt">TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 12pt WINGDINGS">x</FONT><FONT STYLE="font-size: x-small">&nbsp;&nbsp;&nbsp;</FONT></P>
 </TD>
 <TD STYLE="text-align: right; vertical-align: bottom">
 <P><FONT STYLE="font-size: 7pt">KEEP THIS PORTION FOR
 YOUR RECORDS</FONT></P>
 </TD>
 </TR>
 <TR STYLE="font-size: 1px">
 <TD COLSPAN="2" VALIGN="TOP" STYLE="border-bottom: BLACK 1px dashed">&nbsp;


 </TD>
 </TR>
 <TR STYLE="font-size: 5px">
 <TD VALIGN="TOP">
 <P ALIGN="CENTER">&nbsp;</P>
 </TD>
 <TD ROWSPAN="2" VALIGN="TOP">
 <P ALIGN="RIGHT"><FONT STYLE="font-size: 7pt">DETACH AND RETURN THIS
 PORTION ONLY</FONT></P>
 </TD>
 </TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt times new roman; font-size: 10pt; font-family: times new roman">
<TR>
<TD VALIGN="TOP" WIDTH="2%"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="font-weight: bold">&#160;</FONT> </FONT></TD>
<TD VALIGN="TOP" WIDTH="38%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="TOP" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" VALIGN="TOP" WIDTH="19%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" VALIGN="TOP" WIDTH="39%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD COLSPAN="9" VALIGN="TOP" WIDTH="100%">
<DIV STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt; text-align: center"><FONT STYLE="display: inline; font-size: 8pt"><FONT STYLE="display: inline; font-weight: bold; font-size: 8pt">THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.</FONT></FONT></DIV>
</TD>
</TR></TABLE>


<DIV>
<DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt times new roman">
<TR>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-top: black 2.25pt solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-top: black 2.25pt solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-top: black 2.25pt solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-top: black 2.25pt solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-top: black 2.25pt solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: bottom; border-top: black 2.25pt solid">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-weight: bold; font-size: 8pt">For</FONT></DIV>

<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-weight: bold; font-size: 8pt">All</FONT></DIV>
</TD>
<TD STYLE="vertical-align: bottom; border-top: black 2.25pt solid">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">&nbsp;&nbsp;<FONT STYLE="display: inline; font-weight: bold; font-size: 8pt">Withhold</FONT>&nbsp;&nbsp;</DIV>

<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-weight: bold; font-size: 8pt">All</FONT></DIV>
</TD>
<TD NOWRAP STYLE="vertical-align: bottom; border-top: black 2.25pt solid">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">&nbsp;<FONT STYLE="display: inline; font-weight: bold; font-size: 8pt">For All&#160;&nbsp;&#160;&#160;</FONT></DIV>

<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-weight: bold; font-size: 8pt">Except&#160;&#160;&#160;</FONT></DIV>
</TD>
<TD ROWSPAN="2" STYLE="vertical-align: top; border-top: black 2.25pt solid; padding-bottom: 8px; text-align: left; padding-top: 5pt">
<DIV STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-weight: normal; font-size: 8pt">To withhold authority to vote for any individual nominee(s), mark &#8220;For All Except&#8221; and write the number(s) of the nominee(s) on the line below.</FONT></DIV>
</TD>
<TD STYLE="vertical-align: top; border-top: black 2.25pt solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-top: black 2.25pt solid; border-left: black 2px solid; background-color: #efefef; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD ROWSPAN="2" STYLE="vertical-align: middle; border-top: black 2.25pt solid; background-color: #efefef; text-align: center"><FONT STYLE="display: inline; font: 45pt wingdings"><FONT STYLE="display: inline; font: normal 45pt wingdings">o</FONT></FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top; border-top: black 2.25pt solid; background-color: #efefef; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-top: black 2.25pt solid; background-color: #efefef; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-top: black 2.25pt solid; border-right: black 2px solid; background-color: #efefef; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="4" STYLE="text-align: left; vertical-align: bottom">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-weight: bold; font-size: 8pt">The Board of Directors recommends you vote</FONT></DIV>

<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-weight: bold; font-size: 8pt">FOR the following:</FONT></DIV>
</TD>
<TD STYLE="vertical-align: bottom">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="font: 12pt wingdings">o</FONT></DIV>
</TD>
<TD STYLE="vertical-align: bottom">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="font: 12pt wingdings">o</FONT></DIV>
</DIV>
</TD>
<TD STYLE="vertical-align: bottom">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="font: 12pt wingdings">o</FONT><FONT STYLE="font-size: 8pt">&nbsp;</FONT></DIV>
</DIV>
</TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid; background-color: #efefef; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
<TD STYLE="vertical-align: top; border-top: black 2px solid; background-color: #efefef; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-top: black 2px solid; border-right: black 2px solid; background-color: #efefef; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid; background-color: #efefef; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD ROWSPAN="7" STYLE="vertical-align: top; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-top: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-bottom: black 2px solid; border-left: black 2px solid; background-color: #efefef; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-bottom: black 2px solid; background-color: #efefef; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top; border-bottom: black 2px solid; background-color: #efefef; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-bottom: black 2px solid; background-color: #efefef; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid; border-bottom: black 2px solid; background-color: #efefef; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR STYLE="font-family: Times New Roman, Times, Serif">
<TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<DIV STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="display: inline; font-weight: bold; font-size: 8pt">1.</FONT></DIV>
</TD>
<TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<DIV STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="display: inline; font-size: 8pt">Election of Directors</FONT></DIV>
</TD>
<TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="text-align: left; vertical-align: top">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-weight: bold; font-size: 8pt">&#160;</FONT></DIV>
</TD>
<TD COLSPAN="2" STYLE="text-align: left; vertical-align: top">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-weight: bold; font-size: 8pt">Nominees</FONT></DIV>
</DIV>
</TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="text-align: left; vertical-align: top">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-weight: bold; font-size: 8pt">&#160;</FONT></DIV>
</TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="font-size: 8pt">&#160; </FONT></TD>
</TR><TR STYLE="font-family: Times New Roman, Times, Serif">
<TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<DIV STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">01<BR>
06&#160; </FONT></DIV>
</TD>
<TD STYLE="vertical-align: top; font: 8pt Times New Roman, Times, Serif">
<DIV STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Edward R Rosenfeld<BR>
Thomas H Schwartz&#160;</FONT></DIV>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
<DIV STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">02&#160;&#160;&#160;John L Madden</FONT></DIV>
</TD>
<TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="10" STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><DIV STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">03&#160;&#160;&#160;Peter
                                             Migliorini &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">04&nbsp;&nbsp;&nbsp;
                                             Richard P Randall</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
                                             &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">05&nbsp;&nbsp;&nbsp;
                                             Ravi Sachdev</FONT></DIV>

</TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="text-align: left; vertical-align: top">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></DIV>
</TD>
<TD STYLE="text-align: left; vertical-align: top">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></DIV>
</DIV>
</TD>
<TD COLSPAN="2" STYLE="text-align: left; vertical-align: top">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></DIV>
</TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="text-align: left; vertical-align: top">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></DIV>
</TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&#160; </FONT></TD>
<TD COLSPAN="7" STYLE="text-align: left; vertical-align: top"><DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>The
Board of Directors recommends you vote FOR proposals 2, 3 and 4.</B> </FONT></DIV>
</TD>
<TD STYLE="vertical-align: top"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>For</B></FONT></DIV>
</TD>
<TD COLSPAN="3" STYLE="vertical-align: top"><DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>&#160;&#160;Against&#160;&#160;</B></FONT></DIV>
</TD>
<TD STYLE="vertical-align: top"><DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>Abstain</B></FONT></DIV>
</TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="7" STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="text-align: left; vertical-align: top">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>2</B></FONT></DIV>
</TD>
<TD COLSPAN="7" STYLE="text-align: left; vertical-align: top; font: 8pt Times New Roman, Times, Serif"><P STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">TO
                                                                               APPROVE AN AMENDMENT TO THE COMPANY&#8217;S CERTIFICATE
                                                                               OF INCORPORATION TO INCREASE THE TOTAL NUMBER OF
                                                                               AUTHORIZED SHARES OF THE COMPANY&#8217;S COMMON STOCK,
                                                                               $0.0001 PAR VALUE, FROM 60,000,000 SHARES TO 135,000,000
                                                                               SHARES.</FONT></P>
</TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="font: 12pt wingdings">o</FONT></DIV>
</DIV>
</TD>
<TD COLSPAN="3" STYLE="vertical-align: top">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="font: 12pt wingdings">o</FONT></DIV>
</DIV>
</TD>
<TD STYLE="vertical-align: top">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="font: 12pt wingdings">o</FONT></DIV>
</DIV>
</TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="text-align: left; vertical-align: top">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>3</B></FONT></DIV>
</TD>
<TD COLSPAN="7" STYLE="text-align: left; vertical-align: top">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><DIV STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt; text-align: left; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">TO
                                                                                                RATIFY THE APPOINTMENT OF EISNERAMPER
                                                                                                LLP AS THE COMPANY&#8217;S INDEPENDENT
                                                                                                REGISTERED PUBLIC ACCOUNTING FIRM
                                                                                                FOR THE FISCAL YEAR ENDING DECEMBER
                                                                                                31, 2013.</FONT></DIV>
</DIV>
</TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="font: 12pt wingdings">o</FONT></DIV>
</DIV>
</TD>
<TD COLSPAN="3" STYLE="vertical-align: top"><DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="font: 12pt wingdings">o</FONT></DIV>
</DIV>
</TD>
<TD STYLE="vertical-align: top">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="font: 12pt wingdings">o</FONT></DIV>
</DIV>
</TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR>     <TR>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid">&nbsp;</TD>
<TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
<TD COLSPAN="7" STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD COLSPAN="3" STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid">&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid">&nbsp;</TD>
<TD STYLE="text-align: left; vertical-align: top; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>4</B></FONT></TD>
<TD COLSPAN="7" STYLE="text-align: left; vertical-align: top; font: 8pt Times New Roman, Times, Serif"><P STYLE="margin: 0; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">TO
                                                                               APPROVE, BY NON-BINDING ADVISORY VOTE, THE EXECUTIVE
                                                                               COMPENSATION DESCRIBED IN THE STEVEN MADDEN, LTD
                                                                               PROXY STATEMENT.</FONT></P>


</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 12pt wingdings">o</FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 12pt wingdings">o</FONT></TD>
<TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 12pt wingdings">o</FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid">&nbsp;</TD>
<TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="10" STYLE="text-align: left; vertical-align: top; font: 8pt Times New Roman, Times, Serif"><P STYLE="margin: 0; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTE:</B> <FONT STYLE="font-size: 8pt">In
their discretion, the proxies are authorized to vote upon such other business as may properly be presented at the meeting or any
adjournments or postponements thereof.</FONT></FONT></P>



</TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD ROWSPAN="9" STYLE="vertical-align: middle"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="4" STYLE="text-align: left; vertical-align: top">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></DIV>
</TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></DIV>
</TD>
<TD STYLE="vertical-align: top">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></DIV>
</DIV>
</TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="4" STYLE="text-align: left; vertical-align: top">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></DIV>
</TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top">&#160;</TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="5" STYLE="text-align: left; vertical-align: bottom">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT SIZE="2" STYLE="display: inline; font-size: 8pt"><FONT SIZE="2" STYLE="display: inline; font-size: 8pt"><FONT STYLE="display: inline; font-size: 8pt">Please indicate if you plan to attend this meeting</FONT></FONT></FONT></DIV>



<FONT SIZE="2" STYLE="display: inline; font-size: 8pt"><FONT SIZE="2" STYLE="display: inline; font-size: 8pt"><BR>
<BR>
Please sign exactly as your name(s) appear(s) hereon. When signing as attorney, executor, administrator, or other fiduciary, please give full title as such. Joint owners should each sign personally. All holders must sign. If a corporation or partnership, please sign in full corporate or partnership name, by authorized officer.</FONT></FONT></DIV>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: top; text-align: center"><FONT SIZE="2" STYLE="display: inline; font-size: 8pt"><FONT STYLE="display: inline; font-size: 8pt"><FONT STYLE="display: inline; font-size: 8pt"><FONT STYLE="display: inline; font-family: wingdings"></FONT></FONT></FONT></FONT><P STYLE="margin: 0; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Yes</B></FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><B>No</B></FONT><BR>
                                                                                                                                                                                                                                                                                                           <BR>
                                                                                                                                                                                                                                                                                                           <FONT STYLE="font: 12pt Wingdings">o</FONT><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font: 12pt Wingdings">o</FONT></P>


</TD>
<TD STYLE="vertical-align: top; border-top: black 2px solid; border-bottom: black 2px solid; border-left: black 2px solid; background-color: #efefef; padding-left: 0pt; margin-left: 9pt; text-align: left">
<DIV STYLE="display: block; margin-left: 27pt; text-indent: 0pt; margin-right: 0pt"><FONT SIZE="2" STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt">Investor Address Line 1<BR>
</FONT></FONT>

<DIV STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT SIZE="2" STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt">Investor Address Line 2<BR>
</FONT></FONT></FONT>

<DIV STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT SIZE="2" STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt">Investor Address Line 3<BR>
</FONT></FONT></FONT></FONT>

<DIV STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT SIZE="2" STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt">Investor Address Line 4<BR>
</FONT></FONT></FONT></FONT></FONT>

<DIV STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT SIZE="2" STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt">Investor Address Line 5<BR>
</FONT></FONT></FONT></FONT></FONT></FONT>

<DIV STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT SIZE="2" STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt">John Sample</FONT></FONT></FONT></FONT></FONT></FONT></FONT></DIV>

<DIV STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT SIZE="2" STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt">1234 ANYWHERE STREET</FONT></FONT></FONT></FONT></FONT></FONT></FONT></DIV>

<DIV STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT SIZE="2" STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="font-size: 10pt">ANY CITY, ON <FONT STYLE="display: inline; font-size: 10pt">A1A 1A1</FONT></FONT></FONT></FONT></FONT></FONT></FONT></FONT></FONT></DIV>
</DIV>
</DIV>
</DIV>
</DIV>
</DIV>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: top; border-top: black 2px solid; border-bottom: black 2px solid; background-color: #efefef; text-align: left">
<DIV STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT SIZE="2" STYLE="display: inline; font-size: 8pt">&#160;</FONT></DIV>
</TD>
<TD STYLE="vertical-align: top; border-top: black 2px solid; border-bottom: black 2px solid; background-color: #efefef; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top; border-top: black 2px solid; border-bottom: black 2px solid; background-color: #efefef; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-top: black 2px solid; border-right: black 2px solid; border-bottom: black 2px solid; background-color: #efefef; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top; border-left: black 2px solid; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="10" STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top; border-left: black 2px solid; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="4" STYLE="text-align: right; vertical-align: top; background-color: #efefef">
<DIV ALIGN="RIGHT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-weight: bold; font-size: 10pt">SHARES</FONT></DIV>
</TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top; border-left: black 2px solid; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top; background-color: #efefef; border-top: Black 2pt solid; border-left: Black 2pt solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef; border-top: Black 2pt solid; border-right: Black 2pt solid; border-left: Black 2pt solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef; border-top: Black 2pt solid; border-left: Black 2pt solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef; border-top: Black 2pt solid; border-left: Black 2pt solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef; border-top: Black 2pt solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef; border-top: Black 2pt solid; border-right: Black 2pt solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="4" STYLE="text-align: right; vertical-align: top; background-color: #efefef">
<DIV ALIGN="RIGHT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-weight: bold; font-size: 10pt">CUSIP #</FONT></DIV>
</TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top; border-left: black 2px solid; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="vertical-align: top; background-color: #efefef; border-bottom: Black 2pt solid; border-left: Black 2pt solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef; border-bottom: Black 2pt solid; border-left: Black 2pt solid; border-right: Black 2pt solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef; border-bottom: Black 2pt solid; border-left: Black 2pt solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef; border-bottom: Black 2pt solid; border-left: Black 2pt solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; &#160;</FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef; border-bottom: Black 2pt solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; background-color: #efefef; border-bottom: Black 2pt solid; border-right: Black 2pt solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="4" NOWRAP STYLE="text-align: right; vertical-align: top; background-color: #efefef">
<DIV ALIGN="RIGHT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-weight: bold; font-size: 10pt">SEQUENCE #</FONT></DIV>
</TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD STYLE="vertical-align: top; padding-bottom: 2pt; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-bottom: black 2.25pt solid; border-left: black 2px solid; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" STYLE="text-align: left; vertical-align: top; border-bottom: black 2.25pt solid; background-color: #efefef">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-size: 8pt">Signature [PLEASE SIGN WITHIN BOX]</FONT></DIV>
</TD>
<TD STYLE="text-align: left; vertical-align: top; border-bottom: black 2.25pt solid; background-color: #efefef">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-size: 8pt">Date</FONT></DIV>
</TD>
<TD COLSPAN="3" STYLE="vertical-align: top; border-bottom: black 2.25pt solid; background-color: #efefef; text-align: center"><FONT STYLE="display: inline; font-weight: bold; font-size: 10pt">JOB #</FONT></TD>
<TD STYLE="text-align: left; vertical-align: top; background-color: #efefef; border-bottom: Black 2pt solid">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-size: 8pt">Signature (Joint Owners)</FONT></DIV>
</TD>
<TD COLSPAN="2" STYLE="vertical-align: top; background-color: #efefef; border-bottom: Black 2pt solid"><FONT STYLE="display: inline; font-size: 8pt">Date</FONT></TD>
<TD COLSPAN="4" STYLE="vertical-align: top; border-bottom: black 2.25pt solid; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-bottom: black 2.25pt solid; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 2px solid; border-bottom: black 2.25pt solid; background-color: #efefef"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; padding-bottom: 2pt; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR></TABLE>
</DIV>

<DIV>&#160;</DIV>

<DIV ALIGN="CENTER">
<TABLE BGCOLOR="white" CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt times new roman; font-size: 10pt; font-family: times new roman">
<TR>
<TD WIDTH="25%"><FONT STYLE="font-size: 10pt">0000168327_1&#160;&#160;&#160;&#160; R1.0.0.51160</FONT></TD>
<TD WIDTH="25%" STYLE="text-align: right"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif"><B>02&#160;&#160;&#160;&#160;&#160;0000000000</B></FONT></TD>
</TR></TABLE>
</DIV>

</DIV>

<!-- Field: Page; Sequence: 54 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<DIV>


<DIV ALIGN="RIGHT">
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt times new roman; font-size: 10pt; font-family: times new roman">
<TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="white" STYLE="border-left-style: none; border-left-width: medium; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="47%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid; border-top: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="40%"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="white" STYLE="border-left-style: none; border-left-width: medium; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="47%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="40%"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="white" STYLE="border-left-style: none; border-left-width: medium; text-align: left"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="47%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="40%"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid; border-top: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="47%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="40%"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="47%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-bottom: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="40%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="47%" BGCOLOR="white">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">&nbsp;</DIV>
</TD>
<TD VALIGN="BOTTOM" WIDTH="40%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="2" VALIGN="BOTTOM" WIDTH="87%" BGCOLOR="white">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">&nbsp;</DIV>
</TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="47%" BGCOLOR="white"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="40%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD ALIGN="LEFT" COLSPAN="2" VALIGN="BOTTOM" WIDTH="87%">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-weight: bold; font-size: 8pt"><FONT STYLE="display: inline; font-weight: normal; font-size: 8pt">&nbsp;</FONT></FONT></DIV>
</DIV>
</TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD ALIGN="LEFT" COLSPAN="2" VALIGN="TOP" WIDTH="87%">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">&#160;</DIV>
</TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="2" VALIGN="TOP" WIDTH="87%">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-size: 8pt"><FONT STYLE="display: inline; font-size: 8pt">&nbsp;</FONT></FONT></DIV>
</TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD ALIGN="LEFT" COLSPAN="2" VALIGN="TOP" WIDTH="87%">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">&#160;</DIV>
</TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="2" VALIGN="TOP" WIDTH="87%">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-size: 8pt"><FONT STYLE="display: inline; font-size: 8pt">&nbsp;</FONT></FONT></DIV>
</TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD ALIGN="LEFT" COLSPAN="2" VALIGN="TOP" WIDTH="87%">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">&#160;</DIV>
</TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="2" VALIGN="TOP" WIDTH="87%">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-size: 8pt"><FONT STYLE="display: inline; font-size: 8pt">&nbsp;</FONT></FONT></DIV>
</TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD ALIGN="LEFT" COLSPAN="2" VALIGN="TOP" WIDTH="87%">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">&#160;</DIV>
</TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="2" VALIGN="TOP" WIDTH="87%">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-size: 8pt"><FONT STYLE="display: inline; font-size: 8pt">&nbsp;</FONT></FONT></DIV>
</TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt"><FONT STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&#160;</FONT> </FONT></FONT></FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD ALIGN="LEFT" COLSPAN="2" VALIGN="TOP" WIDTH="87%">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">&#160;</DIV>
</TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="2" VALIGN="TOP" WIDTH="87%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD ALIGN="LEFT" COLSPAN="2" VALIGN="TOP" WIDTH="87%">
<DIV ALIGN="LEFT" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">&#160;</DIV>
</TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="2" VALIGN="TOP" WIDTH="87%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="2" VALIGN="TOP" WIDTH="87%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="2" VALIGN="TOP" WIDTH="87%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="2" VALIGN="TOP" WIDTH="87%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="2" VALIGN="TOP" WIDTH="87%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD VALIGN="BOTTOM" WIDTH="9%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-bottom: black 2px solid; border-left: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="BOTTOM" WIDTH="2%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="2" VALIGN="TOP" WIDTH="87%"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR></TABLE>
</DIV>

<DIV ALIGN="JUSTIFY" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">&#160;</DIV>

<DIV ALIGN="JUSTIFY" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">&#160;</DIV>

<DIV ALIGN="JUSTIFY" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">&#160;</DIV>

<DIV ALIGN="JUSTIFY" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">&#160;</DIV>

<DIV ALIGN="JUSTIFY" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">&#160;</DIV>

<DIV ALIGN="JUSTIFY" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">&#160;</DIV>

<DIV ALIGN="RIGHT">
<TABLE BGCOLOR="white" CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt times new roman; font-size: 10pt; font-family: times new roman">
<TR>
<TD WIDTH="100%" STYLE="padding-bottom: 8px; border-bottom: black 2px dashed; text-align: left"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><FONT STYLE="display: inline; font-weight: bold; font-size: 10pt">Important
Notice Regarding the Availability of Proxy Materials for the Annual Meeting:</FONT> The Notice &amp; Proxy Statement,
Annual Report with 10-K is/are available at <FONT STYLE="font-size: 10pt; text-decoration: underline">www.proxyvote.com</FONT>.</FONT></FONT></FONT></FONT></TD>
</TR></TABLE>
</DIV>

<DIV>&#160;</DIV>

<DIV STYLE="display: block; text-indent: 0pt">&#160;</DIV>

<DIV ALIGN="LEFT">
<DIV ALIGN="RIGHT">
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt times new roman; font-size: 10pt; font-family: times new roman">
<TR>
<TD VALIGN="TOP" WIDTH="19%" STYLE="border-top: black 3px solid; border-left: black 3px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="TOP" WIDTH="63%" STYLE="border-top: black 3px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="TOP" WIDTH="16%" STYLE="border-right: black 3px solid; border-top: black 3px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD VALIGN="TOP" WIDTH="19%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 3px solid; border-top: black 2px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD STYLE="vertical-align: top; width: 63%; padding-top: 10pt">
<DIV STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>STEVEN
MADDEN, LTD.</B></FONT></DIV>
</TD>
<TD VALIGN="TOP" WIDTH="16%" STYLE="border-right: black 3px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD VALIGN="TOP" WIDTH="19%" BGCOLOR="#efefef" STYLE="border-right: black 2px solid; border-left: black 3px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="TOP" WIDTH="63%">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>THIS
PROXY IS BEING SOLICITED ON BEHALF OF</B></FONT></DIV>
</TD>
<TD VALIGN="TOP" WIDTH="16%" STYLE="border-right: black 3px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR>     <TR>
<TD STYLE="vertical-align: top; border-right: black 2px solid; border-left: black 3px solid; background-color: #efefef">&nbsp;</TD>
<TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>THE
BOARD OF DIRECTORS</B></FONT></TD>
<TD STYLE="vertical-align: top; border-right: black 3px solid">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; width: 19%; background-color: #efefef; border-right: Black 2px solid; border-bottom: Black 2pt solid; border-left: Black 3px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD VALIGN="TOP" WIDTH="63%">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"></DIV>
</TD>
<TD VALIGN="TOP" WIDTH="16%" STYLE="border-right: black 3px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD COLSPAN="3" VALIGN="TOP" WIDTH="98%" STYLE="border-right: black 3px solid; border-left: black 3px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR>     <TR>
<TD COLSPAN="3" STYLE="vertical-align: top; border-right: black 3px solid; border-left: black 3px solid; padding-right: 50px; padding-left: 50px; text-align: left"><P STYLE="margin-top: 0; text-align: center; margin-bottom: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>PLEASE
                                                                                                                                                                    CLEARLY
                                                                                                                                                                    INDICATE
                                                                                                                                                                    A
                                                                                                                                                                    RESPONSE
                                                                                                                                                                    BY
                                                                                                                                                                    CHECKING
                                                                                                                                                                    ONE
                                                                                                                                                                    OF
                                                                                                                                                                    THE
                                                                                                                                                                    BOXES
                                                                                                                                                                    NEXT
                                                                                                                                                                    TO
                                                                                                                                                                    EACH
                                                                                                                                                                    OF
                                                                                                                                                                    THE
                                                                                                                                                                    PROPOSALS</B></FONT></P>


</TD></TR>
<TR>
<TD COLSPAN="3" STYLE="vertical-align: top; border-right: black 3px solid; border-left: black 3px solid; padding-right: 50px; padding-left: 50px; text-align: left">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
<TD COLSPAN="3" STYLE="vertical-align: top; width: 98%; border-right: black 3px solid; border-left: black 3px solid; font: 10pt Times New Roman, Times, Serif; padding-right: 50px; padding-left: 50px; text-align: left"><DIV STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
undersigned stockholder(s) of Steven Madden, Ltd. (the &ldquo;Company&rdquo;) hereby appoint(s) Edward R. Rosenfeld and Arvind
Dharia, and each of them, as attorneys and proxies, each with power of substitution and revocation, to represent the undersigned
at the Annual Meeting of Stockholders of the Company to be held at the Company&rsquo;s showroom located at 1370 Avenue of the
Americas, 14th Floor, New York, New York at 10:00 a.m., local time, on May 24, 2013 and at any adjournments or postponements thereof,
with authority to vote all shares of Common Stock of the Company held or owned by the undersigned on April 3, 2013, in accordance
with the directions indicated herein.</FONT></DIV>
</TD>
</TR><TR>
<TD COLSPAN="3" VALIGN="TOP" WIDTH="98%" STYLE="border-right: black 3px solid; border-left: black 3px solid"><FONT STYLE="display: inline; font-size: 10pt">&#160; </FONT></TD>
</TR><TR>
<TD COLSPAN="3" STYLE="vertical-align: top; width: 98%; border-right: black 3px solid; border-left: black 3px solid; font: 10pt Times New Roman, Times, Serif; padding-right: 50px; padding-left: 50px; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>THIS
PROXY WILL BE VOTED AS SPECIFIED HEREIN; UNLESS OTHERWISE INDICATED, THIS PROXY WILL BE VOTED (1) <U>FOR</U> THE ELECTION OF THE
SIX (6) NOMINEES NAMED IN ITEM 1, (2) <U>FOR</U> THE APPROVAL OF AN AMENDMENT OF THE COMPANY&#8217;S CERTIFICATE OF INCORPORATION, (3)
<U>FOR</U> THE RATIFICATION OF THE APPOINTMENT OF EISNERAMPER LLP AS THE COMPANY&#8217;S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
FOR<U> </U>THE FISCAL YEAR 2013, (4) <U>FOR</U> THE APPROVAL OF THE EXECUTIVE COMPENSATION DESCRIBED IN THE COMPANY&#8217;S PROXY STATEMENT,
AND (5) IN THE DISCRETION OF THE PROXIES ON ANY OTHER MATTER THAT MAY PROPERLY COME BEFORE THE MEETING.</B></FONT></TD>
</TR></TABLE>
</DIV>

<DIV ALIGN="LEFT">
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt times new roman; font-size: 10pt; font-family: times new roman">
<TR>
<TD VALIGN="TOP" WIDTH="7%" STYLE="border-left: black 3px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
<TD ALIGN="LEFT" COLSPAN="3" VALIGN="TOP" WIDTH="86%"><FONT STYLE="display: inline; font-weight: bold; font-size: 8pt">&#160;</FONT></TD>
<TD VALIGN="TOP" WIDTH="7%" STYLE="border-right: black 3px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
</TR><TR>
<TD VALIGN="TOP" WIDTH="7%" STYLE="border-left: black 3px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
<TD ALIGN="LEFT" COLSPAN="3" VALIGN="TOP" WIDTH="86%"><FONT STYLE="display: inline; font-weight: bold; font-size: 8pt">&#160;</FONT></TD>
<TD VALIGN="TOP" WIDTH="7%" STYLE="border-right: black 3px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
</TR><TR>
<TD VALIGN="TOP" WIDTH="7%" STYLE="border-left: black 3px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
<TD ALIGN="LEFT" COLSPAN="3" VALIGN="TOP" WIDTH="86%"><FONT STYLE="display: inline; font-weight: bold; font-size: 8pt">&#160;</FONT></TD>
<TD VALIGN="TOP" WIDTH="7%" STYLE="border-right: black 3px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160;</FONT></TD>
</TR><TR>
<TD VALIGN="TOP" WIDTH="7%" STYLE="border-left: black 3px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
<TD COLSPAN="3" VALIGN="TOP" WIDTH="86%">
<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"></DIV>

<DIV ALIGN="CENTER" STYLE="display: block; margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><FONT STYLE="display: inline; font-size: 10pt"><FONT STYLE="display: inline; font-weight: bold; font-size: 10pt">Continued and to be signed on reverse side</FONT></FONT></DIV>
</TD>
<TD VALIGN="TOP" WIDTH="7%" STYLE="border-right: black 3px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR><TR>
<TD COLSPAN="5" VALIGN="TOP" WIDTH="100%" STYLE="border-right: black 3px solid; border-bottom: black 3px solid; border-left: black 3px solid"><FONT STYLE="display: inline; font-size: 8pt">&#160; </FONT></TD>
</TR></TABLE>
</DIV>
</DIV>
</DIV>

<DIV>&#160;</DIV>

<DIV><FONT STYLE="font-size: 10pt">0000168327_2&#160;&#160;&#160;&#160; R1.0.0.51160</FONT></DIV>

<DIV>
</DIV>



    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; padding-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->&nbsp;<!-- Field: /Sequence --></TD></TR></TABLE></DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>steve001_v1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 steve001_v1.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````/```_^X`#D%D
M;V)E`&3``````?_;`(0`!@0$!`4$!@4%!@D&!08)"P@&!@@+#`H*"PH*#!`,
M#`P,#`P0#`X/$`\.#!,3%!03$QP;&QL<'Q\?'Q\?'Q\?'P$'!P<-#`T8$!`8
M&A41%1H?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?'Q\?
M'Q\?'Q\?'Q\?_\``$0@`7P"6`P$1``(1`0,1`?_$`:(````'`0$!`0$`````
M``````0%`P(&`0`'"`D*"P$``@(#`0$!`0$``````````0`"`P0%!@<("0H+
M$``"`0,#`@0"!@<#!`(&`G,!`@,1!``%(1(Q05$&$V$B<8$4,I&A!Q6Q0B/!
M4M'A,Q9B\"1R@O$E0S13DJ*R8W/"-40GDZ.S-A=49'3#TN(()H,)"A@9A)1%
M1J2T5M-5*!KRX_/$U.3T976%E:6UQ=7E]69VAI:FML;6YO8W1U=G=X>7I[?'
MU^?W.$A8:'B(F*BXR-CH^"DY25EI>8F9J;G)V>GY*CI*6FIZBIJJNLK:ZOH1
M``("`0(#!04$!08$"`,#;0$``A$#!"$2,4$%41-A(@9Q@9$RH;'P%,'1X2-"
M%5)B<O$S)#1#@A:24R6B8[+"!W/2->)$@Q=4DP@)"A@9)C9%&B=D=%4W\J.S
MPR@IT^/SA)2DM,34Y/1E=865I;7%U>7U1E9F=H:6IK;&UN;V1U=G=X>7I[?'
MU^?W.$A8:'B(F*BXR-CH^#E)66EYB9FIN<G9Z?DJ.DI::GJ*FJJZRMKJ^O_:
M``P#`0`"$0,1`#\`]4XJ[%78J[%78J[%6G=$0N[!4459B:``>)Q5@NO?G=^6
MVBW;64VK+>7JGB;6P1[MPW\I](,H/M7%4`WYE>?=80GRIY%NW@85BOM8ECL(
MV'9A$Q,A'W8JM@'_`#D)J*MZQ\OZ&IV%%N+N0>X'()]YQ553R#^9]U\>I?F)
M<1L1\46GV%K`H^3/ZA_#%6F_*?S(YY-^8GF"I_E>!1]RQTQ5<OY6^;8@?0_,
M77`W8RK:S#[FCQ5:/+/YVZ>W^@><+#5D`VCU33Q$:_Z]LU<54(_-?YWZ2S2:
MUY/L]6M$V9]&NJ3'_*6*<U;Y;8JF6A_G=Y"U/4%TRYN)M%U4[?4=6A:T?E_+
MR?\`=U\/BW[8JST$'H:UW&*NQ5V*NQ5V*NQ5V*I5YC\U>7O+>FMJ.N7\5A:+
MT>4T+'^5%%6=O90<58&?S'\]^:F`_+_R^/T4YXCS'K-;>W(.WJ00`B615WW[
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M2&:;T9'+QJ[L23P!X_1BJ>XJEFO>6?+_`)@LWLM:T^#4+9Q0I.@:G?X6^TI]
MP<5></Y#\\>0.5YY`O)-;TDL6N/*NIRAJ`T^*UN#0J13[)Z^YQ5FWD?S[H7G
M'37N]-=H[BW?TM0T^8<+BVF'6.5#X&HKT.*LDQ5V*NQ5IW5%+,0%459CL`!W
M.*O,]6_-#6->U&;0ORTM(]6NH6,6H:_,2NG63'8?%3]\PH31=OGBJ[1ORO\`
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M<8OJ]C'6B*+AMB!]DBW<LAKOP.*O?/-X6/R=K84!533KKB!L`!`V*O)/R+\J
M6&O?D_9QSQQ^O'JIO+>X9:LCVMPC@@C?_=97Z<5>R:/K-GJHO'M)4FBM+E[1
MI(VY*9(@O,5&U59BI^6*IABKL5=BKS'\S?*M_I.H+^8_E.(_XATN/_<CIZ;1
MZA9C^\6112KHI+*W7YD#%65_X\\O?X&_QE]97]#?5/KGK5[4IP_U^?P4_FVQ
M5D>*H+6=9TO1=,GU/5;J.SL+5><]Q*:*HK0?22:`#J<5>5+!YT_-B3G=B?RU
M^7I;DD"DK>ZK$3L7(XF*%EWI[]^H5>DC2K?R]Y9N+7RWI\4/U.VD-A81*%1I
M4C/!33<EF`!)W.*O';3\V/R?N?(=E'YL7]*ZU-;B/5[5K5I;OZP?[X^HRHJ?
M'4J5<4[4Q5G/Y5_F+Y/\W6RV>E37,NH:/"(R=211=F%J+ZG-"RO7B`Y!K7KB
MK`/S^LE\K^?/*_YA6RD4G2&_5-BQMCS!J.[PET^0&*O=+;5-,U+3FNK.5+VU
M>,,1$1(65T#A>/BR,-CXXJ\H_)?\O?.GD[4==:2&"/1M3E#6,<TI$R)$\GIN
MT,:R*&:-P"OJ;4Q5Z!H/E2^L/,VL>8;W5'NYM6C@A%DJ".W@CMN7`1@EF)_>
M,22>^*JWF"+R<NH:=J>N3VD%WI+O+83W,R1&-I4,;GXF7JI[_/%4%?>?/RQN
MHS;WOF#2)XFV:*2[@93M3<<J'8XJOT5ORVNT^IZ)+I,R&I^K6+P$?%U_=Q'O
M\L53S2](TK2;7ZIIEI#8VO(N(+>-8DY-NQXJ`*GOBJ,Q5B?G'SW)H5]9:7IF
MERZ[K-T&N)-,MG1)8[*+:2X)?X=F(55)'([#%4X\L>9=)\RZ-;ZSI,C2V-R#
MZ;NC1M5258%7`/PL"/#%4T/3I7VQ5XGY6\JBYTOSI^7$A/U;3M?LKJ$'<?4;
MFY@O>`7M\,;#PQ5[5(Z1HSNP15!9F8T``W))Q5Y#IT<OYM^9/TK=!T_+S1)V
MBLK"0'T]5N8R0;B1?A!BC-.(-:_?BKU]$1$5$4*B@!5`H`!L``,5;Q5YCYET
MC\H-*\X)_B?0].LY]60S6>J7"#T9YE;]_&]1P25>2M5OM`]=L51>F^3?+O\`
MCW2/,/E6U@LK&ULKN/4)K2/TX;D3<!`@XA4<JRLQ(Z4^6*LI\QZ!Y;U6W23S
M#%%<6%D3.8KIA]65E'][(K$(2HK0MTQ5C8_,C0(;9;+R1I$_F,1GTTCT>)([
M&,]`&NF].W4?ZI;%5:>T_-O68@3>Z=Y5B8_W<$9U.Z`[UDD]&`'Y(?GBK5I^
M5-FZG].Z]K6NN]3(MS?2P0FO80VI@3C[8JF$'Y6_EQ"05\M:<S#]N2WCD8_-
MG#$XJCE\C>25'%?+^FJO@+.`#_B&*H6Z_+/\O+H4F\MZ;7^9+6*-A[AD52#B
MK&[BUN_('F+1OJ>H75[Y:UZ]CTHZ/>2O<-:3RJS13VTTI:3A5.+QL2*&HZ8J
M])Q5C'G#\OM%\RJ9W:;3M75/2BUBQ?T;M8S7E$7'VXVJ:HVWTXJG^G:=9:;8
M6]A8PK;V=K&L5O!&`JHB"@``Q5$8J\T\G3Q-^;?YA7P<?5T;2+$FNQF$'&GS
MJX&*N_.'4+W5&TO\O=(G:#5/,[M];G0T,&G0_%<.U-_C`X`=]QBKT#2M+L=*
MTVVTVQA6"SM(UAMXD``5%%!TQ5%XJ[%5"XL+&XGM[B>".6>T9GMI74%HV=2C
M%">E5)&*L;\T^>5TV^BT71K)]:\RW%"FGPL%2WC;I/>2_$((O<BK?L@XJEUG
M^6MSJTS7WG[4/\032-ZD6D(&BTFVIT$=O6LQ'\\U?D,59O;6MK:P1V]M"D%O
M$`L4,:A$51T"JM`!BJKBKL5=BKL52[7/,.BZ#8/?ZQ>1V5HAX^I*P7DQZ(@Z
MNQ[*NYQ5B6@6FN>;/,%KYJUJTDTW1M/5_P##^B72\;GUGJC7URM:*QCJL<?[
M(-3N<59KJ-Q=6]G)+:6QN[D"D4`=8PS$T^)VV51U)H=N@/3%4)Y;U2XU'2XY
M;Q/1U!*I?VW$IZ,X^U'0EB0*_"U:,*,-CBJ:8J@]8U:PTC2[O5-0E$%E91-/
M<2L:`(@J?I\!BKQ;2;+S-8?DGK7FCT93KFK:E'YF,(4B801WL%P`1U)^KPEJ
M>&*LJ\LPC6OSG\U:U*H:/R_;6NBV)/4/*OUFX8?\$!BKTO%6._\`*PO)W^(Y
MO+CZI#'J\!56@D;@K.XJ(TD:B-(!N4!Y"O3%61#<8JA-7NY;+2KV\BA-Q+;0
M2S1P+]J1HT+!![L13%6(_D]8VK>3++S`[)<ZQYBC6_UC4`/CFGDJ>+'^6$?N
MU7HM,59SBKL5=BKL58_K/G_R=HY,=]JL`N1L+.%O7N6/@L$7.5C\EQ5(AYK\
M^>8X''EG0FT:!B1'J^O@Q;=*Q6,9,S'N/4*#%45I'Y>Z5I\T.N>9+Y_,&O6H
M+#5]1*K'!X_5X!2"`>X'+_*Q5'2^:DUBTU2W\GW-G>ZWI](W2X=TAC>1>2,_
M%2SJ>W'8FHKL<5>,6'G/_G)#0X/K5UIJ^8K'F5D`A666-P?CC9;;TYHV4[?%
M&?I&^*HAO^<C;2SU>WO-6\MWVCW[%8=0BY_NYH-Z-QE6)B\1-5-.E5[[*O?;
M&_L[^SBO+.9+BUG4203QL&1U;<%2,5>6^>+N3\PO-L/Y?:=5O+U@\=WYNU",
M\D/IMRCL5=30.S`%^X^@XJ]3^J6_U3ZIZ:_5N'I>E3X?3IQXT\*;8J\__+=U
MM_/OYB:;)\-S^D[>]53U,-S:H$8>U8R,5>C$8J\D_P"5.:Y'?C1SJ%M?^1KK
M4SJ^HVUW"#J#2\C*8O644D223C5C1@HITQ5ZV*``?ABKMCMBK!K_`/+K4;*X
MFN_)6MR>7I+B1I[G3GB6[TZ65C5F^KN5,)<_:])EKX5Q5JU/YVVZA+A/+M]3
M;U5>\MF/N1PF'W8JJ2W'YSNM(;+R]"W9I+B\E'W"*/\`7BJ$&@?G3?%OKOFG
M3-)0G[.F:>9F`]GNG/\`Q'%4:/RRMKR$)YAUS5M<!%'AFN3;0&O6L-F+=3\F
MKBJ*TO2_RZ\G?Z)I5K9:=<N"/0MD#7<G>G%0\\GXXJI'\S_*RZPFB7DTVDZG
M<+6S74[::TCE/0>G)(%1S7L&KBKS/S%YO\Q>6/SHL+'SC=_I#RK?(GU'E$D=
MM%)+Q03>F.7Q0S"AY,2JM7%7JNCZUH6I^:M4AB53JNF)'$+H*5]6TF59/@?I
M*J2@@TKQ/SQ5$:DCZ?<G7[$//;L@.IV\;`K)$J_#/&IV,D8'8CDFVY"XJBBO
MEWS'8?O([;5;!S0%T2>%MANI8,K=>HQ5YUKOF#ZM*OY;_E9;PVVK$,]U?0JI
MLM,BD<O*S,.0]9B?A6G?%6=>2/)FD>4-!BTG3%;@&,MS/(>4D\[@>I-(3^TU
M,53_`!5Y9YXF?R=^9FC^>)V]/R]J5N-$UV117TG+E[6:3_(#GB6[8J]25E8`
MJ:@]",5;Q5":N;-=,NGO`3:QQ.\W%F0\$4LU&4J1L.QQ5XI^5'G#S;#^:FH^
M3]?U.>\M19^O917!#%9"D4_PN1ZC#TY&&Y/3%61?F=^;FM^6?,6C:7HNGPWR
M:A<&SF-QS4M-6(<82A_8]8<B014TZ@XJS?S/Y@N/+WD[4M<O%B-QI]I+.8U+
M>DTJJ>"U-&HS4'CBJMY8U^+S%Y8L-;LO@74+99HU<5X.R[JP!%>+5!WQ5YUY
M?_,#S7J'YPZMY)U:[A@L[*%Y+1K.(1/(RB-_B,IG.Z2$_#3IBJKYV\^>8?R]
M\XZ6VJ7(U+R;K;>A^\5%N;*92`["1%7U(Z.&HV]*^&ZK#?S-L%\C?G-Y8\W:
M;&EOIFIM'!<B)0J?"1#.#04^.&56^8KBK._^<AO*WZ<_+:\N(U#7.CL+^+;<
MI&"LRCYQL3]&*L,O]#U7\Q_^<>]+U"4_6?,.D"66"=O[R9+9WBD6H_:>%1\V
M&*LO_*'\Q8O,ODS3;F[C>_\`,=F9+*58EK(P7B/6=CQ1%=.!=F-.7OMBK(?+
M-M>>7?),L/G:^LUBC>X>1U<K;PVLKLZ6_.0(6]-&X#;H*8JQ)_-7F[\QZ:=Y
M"630?*B$17OF:XC].61`*&*QA(K]G]O:GMBKT'R?Y)\N^4=)&EZ':_5[<MZD
MK,Q>260@`O([;LQI_3%4]Q5V*H#7=#TO7-)NM)U2!;FPO(S'<0MW4]P1T(.X
M(Z'%7E^C^:-9_*^ZC\N^=II+ORH[B+0/,]"RPIT2VO:"JE1]EM^GAT5>N0SP
MSQ)-"ZRPR`-'(A#*RGH01L1BJ4^<(WF\O75I&*M>\+.G^3<R+"_7_)<XJ\9_
M,"PU#2?^<B_+>HZ1$'NM6M@L:FH3FD4MNQ8C]E(^#-3L,50WG6-KG_G(#R7H
M$4CW0TD02SN^[-*\DEW-(W:K!`V*O5?S$L+77(H/+MV7-G=17$UTD4,L[U5/
M3@)6)7H%ED#[]TQ5@7_.-&O:C!:ZUY(U2J7FA3\X8G!5E21RLRT;>BRCD-OV
ML52KSM_SKO\`SDUH.JD\8-66W61J]YE>R-?I"'%4X_YRDL)=0\O>7;&U3U+^
M[U06]K$.K-+`ZT^_CBJ-_/;R?+>?E-:6P/K:CHGU9XU!^.8JGH2I&O5V96J%
M&YIBJ<:._G;7_P`JK329K!].UR\LQI]_<WZ^FL2%3%).(JM([F/=5H!R.Y`Q
M5DVG:'Y;\I>3X-'6X%CHMA"8C<33>DP4U9W:6JT9B221BK"8/S3LKN']`_E1
MH!UB2V'!;E4^IZ3;K_.92%Y[]%4?%XXJB=+_`"DOM<N8-8_,O4?T_J41#6^E
M0\HM,MZ;BD(X^JWBS?CBKTZ-$C1410J*`%510`#H`!BK>*NQ5V*NQ51O;*SO
MK66TO(4N+6=2DT$JAT=3U#*U01BKS&7\HM:\LO+>_EKK<NF.Q9WT*_)N=.E[
MA5#5>+P!%<50>I>>KJVMH;?\U?)4D*P_%'K%B@O[,."#S#(3+;FJ^/TXJR'0
M?/WY2:]J=IJ%AK-HVJ6=N]K:BXD,,T<4Q4NH2XXL2?27?<_?BKK;\J])_P"5
MA+Y_M-4FN-1D!YQ2^E+`P:(0U3TQ&5_=B@W.^*LCTS1=5MO,.IZK>7L5S#?)
M%%;VZ0-&T$4!8H@D,K\ZF1F;X1OBK%(?R?,'YD2^>[367M;R=B9[%(%,+HZ"
M-U;DY;X@H)I^UOBJ9^;_`,L_+GF36;'7-;NIDFTE@]CZ+I"L?%ED^-BK%Z.E
M=SBJ#U#S/^4WEW4AJ>K^8+:?5D5HXI[BY%U/&C'D5BBCY>F&I^P@KWKBJ$_Y
M7KY>U$F/RMH^J^9;L'X%M+1XXAVJTTW!4&*J!N/^<@->N>,5KI?E#3F%1+*W
MZ0NP#M2BGT^7T#%459?D7Y8EO4U+S1>7OFO4UW:74Y2T%1TXVZ<8P!V7<8J]
M$M[>"VB6&WC6*%!1(XU"J!X`"@Q54Q5V*NQ5V*NQ5;ZB^!_X$_TQ5WJ+X'_@
M3_3%7>HO@?\`@3_3%6C(E#4&G>JFE/NQ5A?FN+\FKA/2\T'0UY$T-ZUM$]>]
M&8JP/R.*L/?\N_\`G'N^//2]7@L@?^K=JQ5?H7U74?0,5<OY1?E6?[GS;J:C
M_(U?%7-^4?Y4+O-YLU)O$/J^*N3\N_\`G'FR/+4M6M[PC>NH:L6'TKZJ+^&*
MLH\LP_D9;5C\NGR^SCJ;5[65_I8%V_'%6<6[VOI+]7IZ-/@],?!3VXBF*JOJ
M+X'_`($_TQ5WJ+X'_@3_`$Q5WJ+X'_@3_3%7>HO@?^!/],5=ZB^!_P"!/],5
>=ZB^!_X$_P!,5=ZB^!_X$_TQ5WJ+X'_@3_3%7__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>steve002_v1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 steve002_v1.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`,@$L`P$1``(1`0,1`?_$`'L``0$``P$!`0``````
M```````&`0(%!`,*`0$!`````````````````````1```0,"!0$#"`D$`P``
M`````0`"`P0%$5&1DP8',4$2(7&QP4*"MC<R$S1T=39V=[>SM#6U(C-#$0$!
M`0$``````````````````3%!_]H`#`,!``(1`Q$`/P#]O1)Q/E/:>\YH,8G,
MZE`Q.9U*!B<SJ4#$YG4H&)S.I0,3F=2@8G,ZE`Q.9U*!B<SJ4#$YG4H&)S.I
M0,3F=2@8G,ZE`Q.9U*!B<SJ4#$YG4H&)S.I0,3F=2@8G,ZE`Q.9U*!B<SJ4#
M$YG4H&)S.I0,3F=2@8G,ZE`Q.9U*!B<SJ4#$YG4H&)S.I0,3F=2@8G,ZE`Q.
M9U*!B<SJ4#$YG4H&)S.I0,3F=2@VQ/@[3]+,Y(-3VGSGTH,("`@("`@(.=6W
M:AM]79Z*KE='4WZX3VNUL;%)(V:MI[1<[Y+'(]@+8&BVV>H>'/P:7,#?I.`(
M=%`0$!!SJ2ZT-=7WFVTTKWUE@J*&END;HI&-AGN-LI;Q2-CD<`R</H*V-Q+"
M0TGPGR@A!T4!`0$!!SK;=:&[QULM!(^5EON]VL=47Q20EERLE;+;[C"T2`&2
M.&KA<UKQ_P`7@8M)!0=%`0$!!J][8V/D<<&QL<]QPQP:QI<XX#RG`!!XK5<Z
M.]VJUWJW2.EMUYMM!=K?*^-\+Y:&YTD-;1ROAD#9(7R4T[26.`<TG`^4(-:F
MZT-)<K1:)Y7MK[XVZ/ML0BD>R9MFIX*JX%\K08X?JH:EA'B(\9.`Q(*#VRRL
MABEFD)$<,4DTA`)(CB8Z1Y`'E)#6GR=Z#RVRXTEXMELO%OD=+;[O;J"[4$KX
MWPOEH;E20UM'(^&0"2)\E/.TEC@'-)P/E"#W("`@("`@("#;V/>]2#![3YSZ
M4&$!`0$!`0$$#R_\S=*/UQ=_XNZC(+Y`0$!!!<8_.O5C\=X;_'7&D%Z@("`@
M((/I]]BY;^Z'4WXON2"\0$!`0>>K^R5?W6H_HO02/3/Y:]./V_X5\,VM28DQ
M\.0?,'I?]VZD?Z*S*K>+"Y?XRY?AU?\`VDR";Z<_+KIY^@N%_#-K0F+%`0$!
M`0$!`0;>Q[WJ08/:?.?2@P@("`@("`@@>7_F;I1^N+O_`!=U&07R`@("""XQ
M^=>K'X[PW^.N-(+U`0$!`00?3[[%RW]T.IOQ?<D%X@("`@\]7]DJ_NM1_1>@
MD>F?RUZ<?M_PKX9M:DQ)CX<@^8/2_P"[=2/]%9E5O%A<O\9<OPZO_M)D$WTY
M^773S]!<+^&;6A,6*`@("`@("`@V]CWO4@P>T^<^E!A`0$!`0$!!*<@L];<K
MUP.NI6Q&GX]R>X76Y&241O91U/!^86"(P,(QGD-QO4`+1@0PN=[*"K0$!`02
MMDM%;0<EY[=*EL0I.0W3CM7;',E:^1\%LXA9K+5&>,`&!XKZ&0-!Q\3`'=Z"
MJ0$!`0$$KQ*T5MFIK_%7-B:^X\WYK?J7ZJ43`VZ^\@K+E;W2%H'U<SJ6=I>S
MM8[R=R"J0$!`0?*H8Z2GGC;AXI()HVXG`>)\;FMQ/<,2@G^%VNLL7#.'6.X-
MC;<+)Q/C5GKVPR":%M=:[+0T-6V&9H#9HFU%.X-<``X8'O28DQ\KM:*VLY;P
MB\P-B-#88>8LN+GRM9*QU[M=MI*#ZF(CQ3!TU*_QX8>`8'O15#6Q/GHJR"/`
MR3T=5#&''P@R2P21LQ/</$X8GN0<;A]LJK)Q#B-EKQ&VOLW%>-VBN;#()H6U
MMKLM#0U;8I6@"6)M1`X-</(YN![T(HD!`0$!`0$!!M['O>I!@]I\Y]*#"`@(
M"`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(-O8][U(-SVG_`*^T
M^E!C;0-M`VT#;0-M`VT#;0-M`VT#;0-M`VT#;0-M`VT#;0-M`VT#;0-M`VT#
G;0-M`VT#;0-M`VT#;0-M`VT#;0-M`VT#;0-M`VT&WL?^?TO4@__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>steve003_v1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 steve003_v1.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@!+``X`P$1``(1`0,1`?_$`'<``0$!`0$!`0$`````
M```````!!@0%`@,*`0$!`````````````````````1```0,#`P(#!08'`0``
M`````0`"`P0%!C%QL1$'41(6(2*65]=!D:%BU58RDA/4E1>7%!$!`0$!`0``
M`````````````!$A80'_V@`,`P$``A$#$0`_`/[>B3U/M.I^T^*"=3XG[R@=
M3XG[R@=3XG[R@=3XG[R@=3XG[R@H)ZCVG4?:?%!#J=SR@B`@("`@HU&XY0#J
M=SR@P-;A5WJZRJJHNZ/<:W15-1+/';Z!G;?_`,-"R5Y>VEHS7]N*^N--`#Y6
M?UIYI?*/>>X^U1(Y?05[^;O='^3M9]+4A.GH*]_-WNC_`"=K/I:D)UH,?QZO
MLDM5)69GEF5-J(XHXX<D;B+8:)T;W.=-2>F<2QJ8RS!WE=_6?,SR@>5K3U)J
MM.@HU&XY0#J=SR@B`@("`@HU&XY0#J=SR@B`@("`@HU&XY0#J=SR@B`@("`@
MHU&XY0#J=SR@B`@("`@HU&XY0#J=SR@P5;E>4TU954U-VIS*Y4\%1+#!<:6_
M=KX*6OBC>6QU=/#<<_H;A%!4-'F:V>&*4`^\QIZA!S>LLP^3><_$?:+ZDH'K
M+,/DWG/Q'VB^I*#W[!>[U=I:IEUPB_XDR".-\,]ZN>&7".N>][FOAIVXKE&0
MS120M:'.,S(F$$>5SCU`#3(*-1N.4`ZG<\H(@("`@(*-1N.4`ZG<\H(@("`@
M(*-1N.4`ZG<\H(@("`@(*-1N.4`ZG<\H(@("`@(*-1N.4`ZG<\H(@("`@(*-
M1N.4`ZG<\H(@("`@(*-1N.4`ZG<\H,#6XWG51654]'W5K[;235$LM+;F8)A%
M:RAIWO+HJ1M964+ZNJ;`PAHDE)>_IU<>JFIKF]+=P_G%<?\`G>`?IZ::>ENX
M?SBN/_.\`_3TTUH+!:<EMLM4^_9K4Y9%-'&RF@J,:QRPBAD8]SI)FRV.F@DJ
M3,PAI;(2UO3J/:2JK3(*-1N.4`ZG<\H(@("`@(*-1N.4`ZG<\H(@("`@(*-1
MN.4`ZG<\H(@("`@(*-1N.4`ZG<\H(@("`@(*-1N.4`ZG<\H(@("`@(*-1N.4
M`ZG<\H,U49IA=)/-2U>:8=255-*^"II:O*K!355-/&XLE@J*>>XQS031O!#F
M/:'-(Z$=4'X^O,"_?F#?&.-_J:!Z\P+]^8-\8XW^IH/3MF0X]>WS1V3(;!>Y
M*=C)*B.S7NUW:2GCD<6QR5#+?5U+X&2.:0TN`!(("#UT%&HW'*`=3N>4'BRX
MYCE1+)/48YCU1/,]TLT\]BM4T\TKR7/EFFEI'R2R/<>I<XDDZH1\>E\6_:V,
M_#UF_LD)X>E\6_:V,_#UF_LD)X[**TVFVND?;;3:K:^9K63/MUMHJ!\S&$N8
MV5U)!"Z1K'$D!W4`E!Z""C4;CE`.IW/*#`UN<5U'655(SMGW0N#*6HE@;7VZ
MUX?);ZUL3RP55#)59S1U3Z6<#S1F2&)Y:1U:T^Q1*YO]@W#Y4=W/\1@_U"2E
MX?[!N'RH[N?XC!_J$E+QH+!D=1?9*J.?$,RQ@4T<<C9LIH[!2PUAD>YABHG6
M;)+](^:$-\SQ(V)H:1T)/4"JTR"C4;CE`.IW/*"("`@(""C4;CE`.IW/*#`U
MN*Y;4UE544O=;++933U$LM/;J;'.V5134$,CRZ.D@GN.#5E?-#3M(:UTTTLK
M@.KG./4H.;T?FGSDS+X6[3?3U`]'YI\Y,R^%NTWT]0>_C]DOMIEJGW?-[YEL
M<\4;((+O:<.MK*%['N<^:!^+XW89IGS-(:X3.D8`.K0#U)#3H*-1N.4`ZG<\
MH(@("`@(*-1N.4`ZG<\H(@("`@(*-1N.4`ZG<\H(@("`@(*-1N.4`ZG<\H(@
M("`@(*-1N.4`ZG<\H(@("`@(*-1N.4`ZG<\H(@("`@(*-1N.4`ZG<\H(@("`
M@(*-1N.4`ZG<\H(@("`@(*-1N.4`ZG<\H(@("`@(*-1N.4`ZG<\H(@("`@(*
M-1N.4`ZG<\H(@("`@(*-1N.4`ZG<\H(@("`@(*-1N.4'T?)U/\6I\/%!/<_-
A^"![GYOP0/<_-^"![GYOP0/<_-^""CR=1_%J/#Q0?__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>steve004_v1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 steve004_v1.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`?P`R`P$1``(1`0,1`?_$`'```0`#``(#`0``````
M```````!`@,'"`0%!@H!`0$````````````````````!$```!@$"!`4%``,!
M```````!`@,$!08`$0<Q47'389&Q$@@A0=$B$X$S%`D1`0$!````````````
M```````!$?_:``P#`0`"$0,1`#\`_;T(CJ/U'B/W'G@1J/,?,<!J/,?,<!J/
M,?,<!J/,?,<!J/,?,<#34>8_Z^8X&8\1ZCZX$8#`8#`D0$.("'W^O(>`_P"<
M"_;P*#Q'J/K@1@,!@<$[V[4[D;GIUHNWGR/W'^/1X125/+*[?5G;^QFMI7Y6
M)62<L%[@YHK,L*9HH9$6H)B<7)_Z>[0F@>VV-VPL.T-%-3K-NO;-YY,UDLMC
M/=[M%5^'L"PV>34F74<LVK+9G$BU:23E<Z(D23]A%O9I[2EP.9.W@4'B/4?7
M`C`8#`8#`T[>!0>(]1]<",!@,#K_`+V;B[N5M]6*3L-MM5-Q]RK.QG;"J7<&
MZ.J)0JG4*VXAV$A-STM&1,Y-R+Y_+S[5HR8LFPG4,91511--+]@]YLON%=;S
M"ST?NA1&.V^Z%'G$J]=:Q"V5.XU@ZKV(C[!!V&I68K*-<2=<L,+*)*I%<MF[
MQLJ55%8GN3]Q@YH[>!T@W'_]!_C=MM;+%0921W$D;M6+6VJ,O"QFSN[#B/2D
M3S+*+DED+8E2UJJ[CXENZ.Z.X3=F;JI(B!%-1`<#NX.FOZF*<O$IR#J0Y1^I
M3E'[E,'U#PP.EF\GS[^.^R5BN-(L[[<*0O=,(D5]6Z_M#NK,M'KQS',Y5JRC
M[;$TR1JC@5V3],?ZE=&13.(D.8IBF`H=R6;QK(LV<BQ6!PQD6;5^R<`4Y`79
MO4$W358"*`51/^J"I3>TP`8-=!`!P.B7SN+)LJU4+5`;9_)BPS=/;7>;'=3X
MO7ZCT"W;5P#6,C'5C0LJUZDD(JQU6UL6@**,#LWZ?]8PJOM35(D<0^K^$CU!
M?;FW,W5!WLHUN97DKF\NOD-<JW?=UKU-6"GU:?C+K-V*IOWT(,>]K+]DV8-$
M0;),VS4J9$$RA^P=S^W@:?\`2Y+^I7"Y2A]`*550"@'(``V@!@>/@;%<."%`
MI%UB%#@4JIRE#4=1T`#``:B.!D(B(B(B(B(ZB(_41$>(B//`R611<(JMW"*+
MANX240<-W"1%T%T%2"FJBNBJ4Z2R*J9A*8A@$IBB("`@.!1%JU;F6.W:MFYW
M!DC.#H-T43N#(()M4#+F2(4RQD&J)$B";42)$*0-"E``#R^W@4'B/4?7`C`8
M#`8#`T[>!0>(]1]<",!@,!@,#3MX%!XCU'UP(P&`P&`P-.W@4'B/4?7`C`8#
M`\4SYD1\WC#O69))VU=O6D<=T@1^[9,%&J3]VU9&4!RX:L5'R!5E"%,1(RQ`
M,("<NH48R4;*)KK1<BPDD6KY[&.E8]XV?)-I*-7,UD8YPHU55(@_CW)!371,
M(*(J`)3E`0TP/8]O`H/$>H^N!&`P&!UWW>^.T1N_N#MGN&\N-JJ$UM76MTH2
ML/:>LC'3<=,;E(5%)&V1LTK_`&!G)5<]2**;95NZ8R"3I5!TD=$QB&NK+CZS
M9C;.:VNJ\E%VC<:8W8ME@LC^T66\S5;JM/<2L@[9QT8W31K=+CXV`CD&D9$H
M$,8A#K.5@.LJ<QCZ!$<P=O`H/$>H^N!&`P&`P&!IV\"@\1ZCZX$8#`8#`8&G
M;P*#Q'J/K@1@,!@,!@:=O`J(#J/#B/W#GUP(T'P\P_.`T'P\P_.`T'P\P_.`
6T'P\P_.`T'P\P_.!IH/A_KYA^<#_V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>steve005_v1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 steve005_v1.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`*0`H`P$1``(1`0,1`?_$`((```("`P$`````````
M``````4'!`8"`PD(`0$!`0$````````````````!``(#$```!P$``0,"`0L%
M```````!`@,$!08'"`D1$A,`%2,ALC.S%'2T-747&"0T)C9V$0`!!`,!``(!
M!0```````````1$A,4$"$B)A0H%1<;'1$__:``P#`0`"$0,1`#\`[T>0#N1G
M@%Q/1(':-$I6EM-JP$TM6X:C??:LASM9XRM.M'D&<L[H$[$J6]S[Y,R*!7QY
M0#`D#=O^4@&QMLRF-MEU6+@H+_R:X*7K&OPK+IK?1Y=5PB;D9UP?);(%N#;D
M[PP;PR2#57&0NAJ\-+%<5#I-C1P./:!U`5]"C=S<!WZN&%K"^4"D*9+V0]E^
ME]K_`+IP6@;DVY(30REZ,.YHC"M-%<5/=5$,A/"M))2QBJ$B6=5:.2H^G[45
M,GH83N%F0[A9G!,M/D^SY&H<9+UKIC;36R?NN6M^NP=93)%9-J:\HCYQI9J4
M9YD"3)V_)=@0!H$"=VN9O[A;E.EZF![J1_TJ?W+[7/)GA;CK&^P4STSO?^,B
M&0T=Y05T<GL8VM36W5DF4;@C)-FV-FN24($"5E\!W39-B*@G^)0Q_<`7<W!=
M^K\DWR:V[H>/=-8"H8]3[%DB'9?(EDBM"D=+;PD^_P!I9Q6?FKN9N::>.658
MUJ85;LBJSOS^QL#E012-\/T;/^'0-W_#H8S.N>0L_DMI%F<\?9*AMZ'&EOA8
MO+B]'L%*V_S1;7H9Y(W9:]!5B(-IIE8R)LR18M3F51.9?W@!/0'UU4L+[=5+
M"!J>F=N)<R>5.,C^8,S>4:V;;V"^WVTK;RS;2F2VB8H,6AH\%5H$8$ZFA,:;
M$E3<,G9%&H2JIQ2`I?;]9EE,OLRQD*:+I_<CG+_%$UF>6LRC(*I:WSH[Y^E6
M^]LGKO7K#'8W+,Z9#VJ."NI&SQG9:T91ZY<J&=@Q7(5`0,)O46607V9('-2-
M:\@R7DIVRRL.0LG=[3(<NY%$VS,U.C6"%=K^?M+W:UH"W,;L-7.C+2TM)JN$
M%8X&R9FR:)5!./R>GU>NJEB?;M8E@'Y0:C*R%B1GT.L)^@L5^L.3JVGA31U0
M214#(.XFAE2Z)11EO^4DF*J+DJA%%A"'`8TGR^H`J);?^BWN\H5B6R2T$\AU
M/K(^5>].Y!?DBU3)>C!?X1]WAVB.KPS0V/D5(S+3_MTLL<)<Q5$S2(J(`)!^
M$#>V^UX+[7@1U7S2Q+<Y^3&4)Y';E%-ZIL76+&2S9-]C8,^GUH>B1CAY<YLB
MZ?WI9SKZ9PCW(P@IMCD2`&GN4]0`PL@T+.0C?LQL3;-O&,Z/Y);E8$K9J>!-
M(RL*O<9%#EQ61R26>-[9"%:-BOD7&>HD&'1&<^5N5-<0<>JPE]S^DEA)&[3,
MFLZOD+V"N%\J%YC'[#F[*I5;H0C_``O[K>&KN[6E%++7*BS0U2,QJQT3/4RM
M4RO@,\,*H^P2>M]KP/WO`/\`*L[YT3TA5"X\ZW&XZZ3H/EMQ+Z['9%(V"NRV
M)EAJ@-AQ-O?T7!&C^S6)$CXB-;*4JSL7I``WXQ1+;L_S!;L_S`HI.4\>'^<5
M6<-O';L;7$`YGL:,IAJG)$\C:I73!T>,/':8WS,5P>/H2-K8*QIYH/5)%94&
MXA[C`($=4K,'GJE9A0UZ2X>#"^_DY#A[49&\N=1Z1/@-Z1YHFW<5S_5EZ@P+
MFM6M]G*[!#*7^;S(*/'K%?U-#)J`JI[P-[0H98#RRP3[I(\,&H?CZ)#<*ZI"
MS[;1,7/T#/.N8YJ-:="5U/-)$ETKM/E#+_'K#RZ684I-JS0#W22"8N"B!2B`
MT1`^8@9]2E/'L'<.G+O_`!Y;#(8N?",W2J>*(\ESSJSU'026VP&L&@R.<`N+
MN!A[!%F;-498WX;M1N9(``4Q$U'50Q>>J5F/4OD\M._LIA&!J+OGLF6H=<\E
M62*;6VS65EK9-?91-#&#>2L,Q4"&;8HFJW9C(R)0!ZD4KD2#^&'H[O\`P.[O
M\.@(E]6[T4\C5,L[B6\?']X6_(-KA8YVUT;31PX,]6UF(=OVTK/*'"?)IAK`
M5(S9HF(MC1I3J&#W%]0IZP[$^W>'81%5T;LU+F[R?1C&2XH+3;;LO6K_`&Y"
M1OE^2O;ZQS%$C4-!4P".(K^P6.K.HDA"UM:1`57KP#)J^X`]/HEEH)Y6K">@
MZ1VDYS/Q<-9:1X@-"5'5>?7F'IPM[T)>>8ST;D,JSJ2O0;5<WP5RNHUXRA)I
M:-`%&\F)$TQ`AO068H99*'!2]5[O1\BVRV9E*^/T-;D.:,HB;.[D-%TM/%%*
M.TN]H7@T*E.)'^^N]`3DE7!I!LO_`*=)J9$Y`]3B(T]8=BGO#L=G[9_VIU_Y
M\_YJWUT.I0B?R%?^II?PQ_J(FJ_[^O?ND;^N-]&`P8-_T]C_`'9[_$A](F@?
-Y,P_J:_ZM+Z,AD__V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>steve006_v1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 steve006_v1.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`%`%>`P$1``(1`0,1`?_$`(P```("`P$!````````
M``````4&!`<``0,""@$!`0````````````````````$0```""0,#`04#"`<)
M``````$"$1(#$P04!14&`!8'(2(7(S%1D20(0D,W03(T1$5VMK=A@C-C-748
M<X.TM2;&)W<X$0$!`0$``P$!````````````00$Q$2%1D?#_V@`,`P$``A$#
M$0`_`/MF-6Z=?]LS)KT:B'R0(-TV0-&)4R4@T7,*2Z0J#0".UGG5957KH":1
M]X_$=!B1]X_$=`K1.:XY"4;+\@B*B8E)P-O7(;*HJ5C##3&V-TN'K-9(#`C$
M6\;*4Z*(T`6!6@-$JD6,`AH&E(^\?B.@Q(^\?B.@%TJMTZMLZ@UID2:))2ZW
M6,=CC"R;,7-8H$<UIM6A`!L0@M`A8QB8CPJ69T)*(AUT&-ZW3H:M4W'FT28E
M7J]-K-7I\*Z;&!O3\?B:'"5=N+<I!8,AA8C(X,JIS%,=\DH"!#J@42/O'XCH
M!-<KM-QNE15;K,4:$ID&T@&41$`R;Q`LSU*I0=(@BN8<C5L=]4(]D3H455EA
M04!$`+F6*82F$0,41*()2@0%`AT%'MT&DC[Q^(Z`7%UNG0-6HE$BHDS.IY$6
ML&H\,Z;'"++081A'541;$(9BPEH6)(;U#%72@J12&@RFURG5=O6X:GQ)F[;'
M:P-`K!!9-V4I5@I-(K@PH&:D(5N%KKL*T79B9GZBJ5BF``*)'WC\1T`N$K=.
MCJM6Z)"Q)FE3QTM'-6(9TV($(6O0C>.I0@V.0K%O,PL,<WIF,HA!D"@-!JNU
MVFXU1*OD5:BC0='H-,CJQ58L&3>(&&IU-AFL9&MP80Q&L0V%C#L3&4(4QS(0
M`".@+"L41*(B`E$0$$^P0%`^P??H,!8P@4!$1,(``)]HB*`]H^_0*Y<SQT^*
M5'-RU$PXQ2H+)*C'U&5C`,P@\1B:K"9`U"#%C.-!@8BBQ)0*5F)FKM)`,!BI
M!D9M0:LV;4AA$C4A&A!Z@DC0H'**!0()*/Y>N@]I'WC\1T`NK5NG4-E`MZI$
MFAF52K5%QZ#,#)LV>U?(:E#TBD0H@Q(T,S"*J$6S9B<R&;-98P@4!'09"UNG
M1M6K5#AHDS2J8\RHS:KPSIL0(5G7V,;$4DP-CD*Q;S3&GM10S,82*H,@1!(%
M$C[Q^(Z`7'UNG4R-H5.C8DS&,R2I1%(HK(&39I-U"$HE7R*(8"T9D,SAP)1Z
M%%-5F@E*+I4!$YBE$)T1$LX6'B(IN<2,(6';Q3<Z#&480[([9L=4H"8RC,@B
M@`$11TZZ"/2ZI!UJE4NM4QN:(IE:IE/K%-B!(U8C$4ZJP;&/@(@6+8I&S$6T
M)$$,H<I3E2@P`("&@G)'WC\1T`NE5NG5L*H-,B31`46N5/&ZDEDV8R]9HYV3
M.HP@/B$?`P.V*#PBS,R>TP]=`42/O'XCH-@L80*`B(F$``$^T1%`>T??H%2&
MS?&XRBXED,/4C-*1G4308/%XJ4C2#4HC)H-K'T4AF!V!8B#FX1B8PBV*S!FA
M!Q*/30-21]X_$=`*K5<IV/0`U2KQ)H6!"/HU,?`R;MQG<@K5/QZDL7<.1HU^
M:J]58,ED*D`ZQA`H&$`*I-[Q^.@%PE;IT=5JW1(6),TJ>.EHYJQ#.FQ`A"UZ
M$;QU*$&QR%8MYF%ACF],QE$(,@4!H"B1]X_$=`+B:W3H.KT>A1$29G5:_#5J
M+I,,Z;'"*A\>+33U=H+8A!8,)4M7A^AS%%HOVI5,@,@JW3JC4:[2H.),UC\:
MC(&`K3%TV9A"1=2H]/K\&R!HT(5E$/:35&#59F)BE$ZHB!@$`#*36Z=7&4<W
MI<2:)94VM5K'HPPLFS%U5\>J412*O"@#8C,S0(6H0C1F!RI9M%5BB)1`=`42
M/O'XCH(-4JD'1:55*U4VYH>F46F5"L5*(`C5L,/3J5!MH^/B`8L2G;-A8PD.
M<RA"F.9""@(B`:#H%0AK<-5?&D+?='ZK1,C+!&OG2'J9;N50M^1">F@KD_XZ
ML_\`TE%?S'@]2I4UCG1VN,\FY%:R%'CRK<B4PD)-F$M7#`Z<:/(V.VEP&"&J
M"542@5JY]H"?V:IY2F>9&:5KCRD6XH!G>)Y%DYXB:,(TLU!A<,B0@B,W`!%E
MBART0%H)F8D<`*HK]I:IC(?P>^K?_/.;OY9T'4WFIO-7ME.2&QLV)@6#+&;G
MSB@8:83-Q821:VRJ34:B5#)J_-#6]`,A4`Z_YP(ZU64_)#1V995B8P961<;H
M.%UHL>#<3FC!RV*S.&-#&AG108!`;2`P'`YWC\0053N"L,>R4V)8EG];+!EC
MQ#ZALNHLL9N,,",LYI@,2-$O09-A3`%KHQ`$5]062B2K+!,3#36^G,O'`>[C
MKF/^(N$]5:8Z%DQJS4\\IPP188,*R:&QTK8&XM1J01&$8AF$V8@LF80HD-E0
MPZ@"T`08`=;O5*%8YSD0Y?\`3S"Y::$"GFRJA\29*:`*W&)+`FKV6X'51@RQ
M(LF`Q!848MV#02$$ZJ502@"1:-<R.)I^=X=B[.&AVD+E,!GT?%Q30S4(F$:8
MF3&&D(SABE,#(Q(L:\T>K@(@[*JA(Z*1ZSR34J9B/+.1LJ93VL3QYFC;&*=#
M-&D4$/485E#8.W"*CS$:`U)$B;*FH"#(2D0R)TZF3/*>?0MF+,&7+7#;(!$0
M9DY?9@(H2($Q>C%`11T2*-*5!P6(E(_G2+`@-!A>5(V*=B*H'E^(^*VR@F`!
M5`ZB$H%"=51"&Y`/$4#AZMVDA!Y6B,:8-(:<,8*%N#CK(,],9FUE@&HRIZ&$
M*`"5BN#5YVB504,YY<,5_%3FG_8<1_PK6M2I2GR'DALJX`YFJAH,L",+CW-^
M-N"MQB`.7#:EF6(%C'@LF(E-42T,(@6:!!D+50#&56%"+7R+)#4;(\*HH098
M@,SR*M44T2+<60TX*7AN49<$25D#)H$4+<V.A#J"9FJ#83I%54U5F/Y(:L9/
MFM"&#+#AAE;Q^E%B@;BU&HA6<1Q_*A;F8BR($*,.:MBP`H&:+`R72"RH!1D-
M_P#*O(/[E_4;_$7*.IG$SBY*GD@T$W'5/"#+%!F&0,<8,U%N+$:>5E@N699.
ME(#)I-&,;%08.Q$@`#<3K=BIJKK`92:-R'/Z%(E9!@Y,9.2*"($XU/<..M*\
M8#L18E"$E!(Z!!FBX=W;[-!7>2U\<LXZX;RLT*$`;*<Z^G;)30)6PQ)8$U?R
M[$:L,&6(%FQ&(+"C&.P:"0@G52J"4!-3>?ADQ?\`%;F3_+.'_P#DN8:JUQC.
M2SPF`95G`48C0V-9;DN,%I@QYBEC"X_R=%<=!&FBPA1,P-%DAIP6;LX$,+M8
MP`OHGGTDY^1WG'"C-*7?).2$2A"5>&.62I1U0E&BIK')#9#2>4X8T&6$VE5<
MCQ(IRMQ;3Y8?!Z#D$^8HLF<L8XY(+)V`G``8K+=RI8GTN4+)38EP?QC6RP98
M\0Q+@VBRQFXPP(RQI@N)&B7H,FPI@"UT8@"*^H+)1)5E@L6'H<D,&>%PJ3*J
M;!VN8W)^*P&99*QQ^WRKI54P-GKUXE(*J_:T*5>,3*,>43H2IS7R89'L2K%4
MX4)_I1J8F.D!R*>-Q/A[)QI!&8\JQF&0K2"GC'"A[MPNK9<8[.(E2C4!@#4R
M7`!(Q>`=?M0J(\FG'<D-6<CS6BC!EAPPS(J+12Q(-Q:C40JF&XOEPQ)F0LF8
M0HL#9$,.H!FBP,0.D%E2U5`XY^#/TG_O)P7_``A4M1)B^R9&8^>-<*DR@5EA
M,#F%R?B)C&C<DJ>/V^5=*@5F%.>O7B1$ZJH(2-55F7Y*;+^(&5>-!EIXMN3\
M*I<J5N,2!0QCZE,>Q4K=\9DQ$1C2T0&XE5],6BB3*K"A/[ZM./R08/-,;Q((
M,K0N08[F=?-'BW$IH0<3J6$0!80(9T8&P1X9B)Q.N5W+@"IETE!;P]F]Y9YD
M9)5>$X@9K(2A?%ZR5*$@E"=2I46!Y,/&X#A6;C1B,S9=E.)XV:F!'F,2`+D_
M($-@YHPL6,*4T2,$6(F0(+,CP0=K%`5]5<]N^2_BUQ#^[O,G_#<=:E2M87^(
M/./[W81_*'`],,I<QJOCB?'7,F5EA0CS8MG7U$Y*6!,V&&+'&H&79=5@@S1`
M,VPPY8H8-V+0"'$BR510@6&<_5B1^4F@LAP"A2)6H9P3)CGBAB!(-,V]CK.O
M%`C$&)@BYL3NA29FH'=W>S54FY-DALEXKYT.:#+![?IG->'@!6XMYLN,T&LP
M!:@(BR9.31H=XLNX&?L6-[=(D.H?A\/[@_\`;(:D(AFL/E8J;IN?Q@W5_1[+
MMK>D,NG]:O%X51]U+I^UJTI:A]H[(YM4O]FO_,&\UI.XSUG:;MV\CT9:43(/
MNYY_:=-03F.U]R\/JWNX[`S'::TK)V*1XWN]]1ZES<6Z7<^FL_6Z*:M*6ZQL
M;QQ]0TYN;;UTY0W^XD+M,['I.Y=K+_+.;*ZDYCK,K+]J-2&\T]9U85L!O=T3
MY0Q.Q6V71N67K5JN;_\`8[M\_=^JE17\NJ:W2;#Y'SN4NFX=J\:WQ_+VFUS_
M`"1MRVJ?,SK^XS;SM5<*?;T4B1FQMD9>]W-9O.X7920N.]_.&.HD%O0VUO67
M_/\`7MR_WB-$/E4L/DK#)JY[CV;R19W,O:+1>>,-Q7!?YF?G+;**=CN87ZJ:
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M\];'OZNY>]RVI"+`RVQ;OXPNMSNV[<CVU(R\C=?&^<7"\/O6D=NSKIUWS;E;
ML6U5:Q6Q;SY/M=SO&Y<4W+.N+?<?'F)6NSNO6E+!*OWO=-/%>Q71"0PV1X#S
M!3<FQ=M<SW9:1W-;;SG>\)%'R$Y-SUO7[7;EYU6TAG#;DNW9[B:Y79_O;_I:
M4EG=Y\8\A?XV\ZV[;<__`&7?../L+Z*U2=O;OY:E;M=G>$[J?2TBKL]K9K(K
MZJ;2F8???H5[=$I58;)\5\+.]R;8GN`]G+2-Z?7#%-B[@1\JZ?RMS<]57CKJ
MKIIO/PY4&P[_`.29&Z7V1XYW%,R]L<6S(]O6E3UWDM,3;SHN[4Z)T4@U+8GB
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M[1:+SQAN*X+_`#,_.6V44['<POU4T5TQBR>1>1K;<MP)XXW!..+5_@=1V]:G
M7S'Z$\FWGWBJG1.B57-+V'XFXUEMS[6WU@.W'UOO=[\M05BNZOREMW4I-.O4
MD4J]^F&+!K=A\A<=3MTO]FY*V_+R]JE'&&[BNJ_S$PI)RCOM2]7^SH-8S8=X
M<IVVZ7;<6+;FG)>0G_'6)VRRN_5E=ORKY[W33Q7L5T":WV3XKYI>;DVQ/<^;
MQ5D;T^N&5[ZV^GY5T_FK8^ZJNWO5;3#.?IJJVWMW\2S5VNSO-MJN9:15V>RO
M-[6]5-I1+N?OTK=NA2\79WC_`)O1N&PWCFS>?Z'=)N4J>\]N_<.'3RW/^JRK
>S\N@L0+;L\?TRT;1_NI^U60/]U/27]1[_1I"/__9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
