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                                                                    EXHIBIT 10.7

                    DSW Inc. SUMMARY OF DIRECTOR COMPENSATION

1.    Pursuant to the terms of the DSW Inc. 2005 Equity Incentive Plan (the
      "Equity Incentive Plan"), each of Messrs. Miller, Robbins, Sonnenberg and
      Tanenbaum and Ms. Friedlander receives:

      o     an annual cash retainer of $50,000, payable in quarterly
            installments of $12,500 beginning on the last day of each fiscal
            quarter; and

      o     on the date of each annual meeting of the shareholders for the
            purpose of electing directors, an automatic grant of a number of
            Stock Units to each director serving after such annual meeting
            determined by dividing $50,000 by the "Fair Market Value" of a share
            of "Stock" on the "Grant Date" pursuant to Section 7.01[3] of the
            Equity Incentive Plan;

2.    Mr. Tanenbaum receives an additional annual cash retainer of $5,000,
      payable in quarterly installments of $1,250 on the last business day of
      each fiscal quarter, for service as the Chair of the Nominating and
      Corporate Governance Committee;

3.    Mr. Miller receives an additional annual cash retainer of $7,500, payable
      in quarterly installments of $1,850 on the last business day of each
      fiscal quarter, for service as the Chair of the Compensation Committee;
      and

4.    Mr. Robbins receives an additional annual cash retainer of $10,000,
      payable in quarterly installments of $2,500 on the last business day of
      each fiscal quarter, for service as the Chair of the Audit Committee.
