On June 2, 2009, K-Swiss Inc., a Delaware corporation (the "Company"), entered into an amendment of the Share Purchase and Shareholders' Rights Agreement, dated as of May 16, 2008, by and among Christophe Mortemousque, Palladium SAS ("Palladium") and the Company (the "Agreement") providing for the purchase of the remaining 43% of the equity interest of Palladium from its shareholder for a total price of €5.0 million plus a future amount calculated based on a formula driven by Palladium's EBITDA for the twelve months ended December 31, 2012, but not to exceed €6.7 million. The Company issued a press release announcing the foregoing transaction on June 3, 2009. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by this reference.

(d) Exhibits.

Exhibit Number         Description of Exhibit
10.1                   Amendment No. 1 to Share Purchase and Shareholders' Rights
                       Agreement.

99.1                   Press Release dated June 3, 2009.