Deckers Outdoor (DECK) 8-K Entry into a Material Definitive Agreement

EXHIBIT 10.3

AMENDMENT NO. 1
TO
EMPLOYMENT AGREEMENT

     This is an amendment to that certain Employment Agreement dated November 25, 2002 betweenJOHN KALINICH(hereinafter referred to as the “Executive”) andDECKERS OUTDOOR CORPORATION, a Delaware Corporation (hereinafter referred to as the “Company”).

WHEREAS:

     A. The Executive and the Company are parties to that certain Employment Agreement dated November 25, 2002 (the “Agreement”); and

     B. The parties wish to amend the Agreement in certain respects, which amendment shall be effective as of January 1, 2006

     NOW, THEREFORE,the parties hereto, intending to be legally bound, do hereby agree as follows:

          1.Section 1.2. Section 1.2 of the Agreement is hereby amended to read as follows:

     “1.2Position and Responsibilities. The Executive will serve as Vice President of Consumer Direct. As Vice President of Consumer Direct, the Executive shall perform the following duties: E-Commerce operations and intellectual property development and protection.”

          2.Section 2.3.Section 2.3 of the Agreement is hereby amended to read as follows:

     “2.3Stock Awards. The Executive will receive stock awards, annually, consistent with his performance and with the stock awards granted to other senior executives of the Company.”

          3.RATIFICATION OF AGREEMENT.In all other respects, the Agreement is hereby ratified, confirmed and approved.

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     IN WITNESS WHEREOF,the parties hereto have executed this Amendment on the 18th day of April, 2006.

“Company”
DECKERS OUTDOOR CORPORATION
By:	/s/ Angel Martinez
	Name:
	Title:
“Executive”
/s/ John Kalinich
JOHN KALINICH

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