BAKERS FOOTWEAR GROUP INC
LETTER TO LARRY SPANLEY
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<TYPE>EX-10.11
<SEQUENCE>10
<FILENAME>c13453exv10w11.htm
<DESCRIPTION>LETTER TO LARRY SPANLEY
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<TITLE>exv10w11</TITLE>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.11</B>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt">March&nbsp;16, 2007
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<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Larry Spanley
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dear Larry:

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#091;Introductory language regarding 2006 bonus results omitted. The Company undertakes to
furnish a supplemental copy of such language to the Securities and Exchange Commission upon
request.&#093;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The bonus plan for 2007 has been adjusted to reflect the goals for our company this coming
year. Your bonus is based on the profit after-tax using a standard corporate tax rate.
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<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">15%
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">of your cumulative salary if the company achieves an after-tax profit of
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">$</TD>
    <TD align="right" valign="bottom">750,000</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">22.5%
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">of your cumulative salary if the company achieves an after-tax profit of
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">$</TD>
    <TD align="right" valign="bottom">1,500,000</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">30%
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">of your cumulative salary if the company achieves an after-tax profit of
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">$</TD>
    <TD align="right" valign="bottom">2,500,000</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">37.5%
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">of your cumulative salary if the company achieves an after-tax profit of
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">$</TD>
    <TD align="right" valign="bottom">3,500,000</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">50%
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">of your cumulative salary if the company achieves an after-tax profit of
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">$</TD>
    <TD align="right" valign="bottom">5,000,000</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">62.5%
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">of your cumulative salary if the company achieves an after-tax profit of
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">$</TD>
    <TD align="right" valign="bottom">6,500,000</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">75%
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">of your cumulative salary if the company achieves an after-tax profit of
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">$</TD>
    <TD align="right" valign="bottom">8,000,000</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, you will earn 12.5% of your cumulative salary if, in my opinion, you have met the
criteria outlined in a document to be provided to you separately.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The bonus period will be the fiscal months of February&nbsp;2007 through January&nbsp;2008. You must be
an active employee of Bakers Footwear Group at the time the bonus is paid to be eligible to receive
your bonus.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are excited about the challenges and prospects in the coming year. We hope it is
profitable for all of our shareholders and us.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
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    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Sincerely,<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">/s/ Peter Edison<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Peter Edison&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
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<DIV align="left" style="font-size: 10pt; margin-top: 12pt">ss
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