Letter Agreement Extending Employment Agreement Between Global Sports, Inc. and Arthur H. Miller

Summary

Global Sports, Inc. and Arthur H. Miller have agreed to extend Miller's employment contract by two years, now ending December 31, 2006, unless terminated earlier as per the original agreement. In return, Miller agrees to terminate certain stock options previously granted to him. During the extended term, Miller will continue to receive annual salary increases and bonuses as previously set. All other terms of the original employment agreement remain unchanged.

EX-10.4 6 dex104.txt LETTER AGREEMENT - GLOBAL SPORTS/ARTHUR H. MILLER Exhibit 10.4 [Global Sports, Inc. Letterhead] April 23, 2002 Mr. Arthur H. Miller Dear Art: Reference is made to the Employment Agreement, dated August 9, 1999 (the "Employment Agreement"), between Global Sports, Inc. (the "Company") and you. The Company and you desire to extend the term of the Employment Agreement in consideration of your agreement to terminate certain options to purchase shares of the Company's common stock that were previously granted to you. In consideration of the agreements contained in this letter, and intending to be legally bound hereby, the Company and you agree as follows: 1. The term of the Employment Agreement is hereby extended by two years so that the term will end on December 31, 2006, unless sooner terminated in accordance with the other provisions of the Employment Agreement. During the extended term of your Employment Agreement, so long as you continue in the employ of the Company, you will be entitled to receive annual increases in your Base Salary in an amount equal to the annual increase provided for with respect to last year of the initial term of your Employment Agreement and you will continue to be eligible to receive annual bonuses equal to the bonus provided for with respect to the last year of the initial term of your Employment Agreement. 2. The options listed on Exhibit "A" hereto to purchase shares of the Company's common stock that were granted by the Company to you pursuant to the Company's 1996 Equity Incentive Plan are hereby terminated as of the date of this letter. 3. Except as otherwise specifically provided for in this letter, all terms and conditions of your Employment Agreement will remain in full force and effect. Mr. Arthur H. Miller April 23, 2002 Page 2 Please indicate your agreement with the foregoing by signing this letter where indicated below and returning a copy to me. Sincerely, /s/ Michael G. Rubin Michael G. Rubin Chairman, President and Chief Executive Officer AGREED TO AND ACCEPTED: /s/ Arthur H. Miller - -------------------------------- Arthur H. Miller Exhibit "A"