Summary of RUSS BERRIE & CO INC

Change in Directors or Principal Officers, Other Events, Financial Statement

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective August 14, 2009, Guy Paglinco, 52, Vice President, Chief Accounting Officer and interim Chief Financial Officer of Russ Berrie and Company, Inc. (the "Company"), was promoted to Vice President and Chief Financial Officer of the Company. In connection therewith, his annual base salary was increased from $214,000 to $265,000, his Applicable Percentage under the Company's IC Program was increased from 35% to 45% (effective for 2009), and he was issued 10,000 stock appreciation rights and 5,000 restricted stock units under the Company's Equity Incentive Plan, each with a five-year vesting period, commencing on August 14, 2010.

The following sets forth the potential payments to Mr. Paglinco under the corporate component of the IC Program for 2009 based on his new Applicable Percentage:

                        Potential      Potential        Potential
                        Award for      Award for        Award for
                       Min. Target      Target         Max. Target
                       $     17,888   $    89,438     $     134,156

In addition, Mr. Paglinco can earn from $0.0 to a maximum of $44,719 under the individual goals and objectives component of the IC Program for 2009 based on his new Applicable Percentage.

Mr. Paglinco joined the Company as Vice President-Corporate Controller in September 2006, and was promoted to Vice President and Chief Accounting Officer of the Company as of November 13, 2007 and interim Chief Financial Officer as of January 30, 2009. Immediately prior to joining the Company, Mr. Paglinco served in various roles at Emerson Radio Corp., an AMEX-listed international distributor of consumer electronic products, including Chief Financial Officer from 2004-2006, and Corporate Controller from 1998-2004.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibit is filed with this report:

Exhibit 99.1 Press Release, dated August 18, 2009, announcing the promotion of Mr. Paglinco to Vice President and Chief Financial Officer.