| Restrictions      and Forfeiture |   | You      may not sell, assign, pledge, encumber, or otherwise transfer any interest      in the Restricted Shares until the dates set forth in the Vesting      Schedule, at which point the Restricted Shares will be referred to as      “Vested.” |
|----------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Vesting      Schedule |   | Assuming      you provide Continuous Service (as defined herein) as an Employee (as      defined in the Plan) of the Company or an Affiliate of the Company, all      Restrictions will lapse on the Restricted Shares on the Vesting date or      Vesting dates set forth in the schedule below for the applicable grant of      Restricted Shares and they will becomeVested. |
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| Vesting Schedule  |   |
|------------------------|--------|
| Vesting Date      |   | Number of Restricted Shares that Vest |   |
| November      10, 2009 |   |   | 33 | % |
| November      10, 2010 |   |   | 33 | % |
| November      10, 2011 |   |   | 33 | % |

| Continuous      Service |   | “Continuous      Service,” as used herein, means the absence of any interruption or      termination of your service as an Employee (as defined in the Plan) of the      Company or any Affiliate.  If you are employed by an Affiliate      of the Company, your employment shall be deemed to have terminated on the      date your employer ceases to be an Affiliate of the Company, unless you      are on that date transferred to the Company or another Affiliate of the      Company.  Service shall not be considered interrupted in the      case of sick leave, military leave or any other leave of absence approved      by the Company or any then Affiliate of the Company.  Your      employment shall not be deemed to have terminated if you are transferred      from the Company to an Affiliate of the Company, or vice versa, or from      one Company Affiliate to another Company  Affiliate. |
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| Share      Certificates                                      |   | The      Company will issue a certificate (or certificates) in your name with      respect to the Shares, and will hold such certificate (or certificates) on      deposit for your account until the expiration of the Restricted Period      with respect to the Shares represented thereby.  Such      certificate (or certificates) will contain the following restrictive      legend:  “The transferability of this      certificate and the shares of stock represented hereby are subject to the      terms and conditions (including forfeiture) contained in the 2009 Equity      Incentive Plan of the Company, copies of which are on file in the office      of the Secretary of the Company.”                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
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| Additional      Conditions to Issuance of Stock Certificates |   | You      will not receive the certificates representing the Restricted Shares      unless and until the Company has received a stock power or stock powers in      favor of the Company executed by you.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
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| Cash      Dividends                                          |   | Cash      dividends, if any, paid on the Restricted Shares shall be held by the      Company for your account and paid to you upon the expiration of the      Restricted Period, except as otherwise determined by the      Administrator.  All such withheld dividends shall not earn      interest, except as otherwise determined by the Administrator. You will not receive withheld      cash dividends on any Restricted Shares which are forfeited and all such      cash dividends shall be forfeited along with the Restricted Shares which      are forfeited.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
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| Tax      Withholding                                         |   | Unless      you make an election under Section 83(b) of the Internal Revenue Code of      1986, as amended (the “Code”), and pay taxes in accordance with that      election, you will be taxed on the Shares as they become Vested and must      arrange to pay the taxes on this income. If the Administrator so      determines, arrangements for paying the taxes may include your      surrendering Shares that otherwise would be released to you upon becoming      Vested or your surrendering Shares you already own. The fair market value      of the Shares you surrender, determined as of the date when taxes      otherwise would have been withheld in cash, will be applied as a credit      against the withholding taxes.  The      Company shall have the right to withhold from your compensation an amount      sufficient to fulfill its or its Affiliate’s obligations for any      applicable withholding and employment taxes.  Alternatively, the      Company may require you to pay to the Company the amount of any taxes      which the Company is required to withhold with respect to the Shares, or,      in lieu thereof, to retain or sell without notice a sufficient number of      Shares to cover the amount required to be withheld.  The Company      may withhold from any cash dividends paid on the Restricted Shares an      amount sufficient to cover taxes owed as a result of the dividend      payment.  The Company’s method of satisfying its withholding      obligations shall be solely in the discretion of the Administrator,      subject to applicable federal, state, local and foreign      laws.  The Company shall have a lien and security interest in      the Shares and any accumulated dividends to secure your obligations      hereunder. |

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| Tax      Representations            |   | You      hereby represent and warrant to the Company as follows:  (a)           You      have reviewed with your own tax advisors the federal, state, local and      foreign tax consequences of this investment and the transactions      contemplated by this Agreement.  You are relying solely on such      advisors and not on any statements or representations of the Company or      any of its Employees or agents.       (b)           You      understand that you (and not the Company) shall be responsible for your      own tax liability that may arise as a result of this investment or the      transactions contemplated by this Agreement.  You understand      that Section 83 of the Code taxes (as ordinary income) the fair market      value of the Shares as of the date any “restrictions” on the Shares      lapse.  To the extent that an award hereunder is not otherwise      an exempt transaction for purposes of Section 16(b) of the Securities      Exchange Act of 1934, as amended (the “1934 Act”), with respect to      officers, directors and 10% shareholders subject to Section 16 of the 1934      Act, a “restriction” on the Shares includes for these purposes the period      after the award of the Shares during which such officers, directors and      10% shareholders could be subject to suit under Section 16(b) of the 1934      Act.  Alternatively, you understand that you may elect to be      taxed at the time the Shares are awarded rather than when the restrictions      on the Shares lapse, or the Section 16(b) period expires, by filing an      election under Section 83(b) of the Code with the Internal Revenue Service      within thirty (30) days from the date of the award.       YOU      HEREBY ACKNOWLEDGE THAT IT IS YOUR SOLE RESPONSIBILITY AND NOT THE      COMPANY’S TO FILE TIMELY THE ELECTION AVAILABLE TO YOU UNDER SECTION 83(B)      OF THE CODE, EVEN IF YOU REQUEST THAT THE COMPANY OR ITS REPRESENTATIVES      MAKE THIS FILING ON YOUR BEHALF. |
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| Securities      Law Representations |   | The      following two paragraphs shall be applicable if, on the date of issuance      of the Restricted Shares, no registration statement and current prospectus      under the Securities Act of 1933, as amended (the “1933 Act”), covers the      Shares, and shall continue to be applicable for so long as such      registration has not occurred and such current prospectus is not      available:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |

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|                                                         |   | (a)          You      hereby agree, warrant and represent that you will acquire the Shares to be      issued hereunder for your own account for investment purposes only, and      not with a view to, or in connection with, any resale or other      distribution of any of such shares, except as hereafter      permitted.  You further agree that you will not at any time make      any offer, sale, transfer, pledge or other disposition of such Shares to      be issued hereunder without an effective registration statement under the      1933 Act, and under any applicable state securities laws or an opinion of      counsel acceptable to the Company to the effect that the proposed      transaction will be exempt from such registration.  You agree to      execute such instruments, representations, acknowledgments and agreements      as the Company may, in its sole discretion, deem advisable to avoid any      violation of federal, state, local or foreign law, rule or regulation, or      any securities exchange rule or listing agreement.       (b)          The      certificates for Shares to be issued to you hereunder shall bear the      following legend:  “The      shares represented by this certificate have not been registered under the      Securities Act of 1933, as amended, or under applicable state securities      laws.  The shares have been acquired for investment and may not      be offered, sold, transferred, pledged or otherwise disposed of without an      effective registration statement under the Securities Act of 1933, as      amended, and under any applicable state securities laws or an opinion of      counsel acceptable to the Company that the proposed transaction will be      exempt from such registration.” |
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| Stock      Dividend, Stock Split and Similar Capital Changes |   | In      the event of any change in the outstanding shares of the Common Stock of      the Company by reason of a stock dividend, stock split, combination of      shares, recapitalization, merger, consolidation, transfer of assets,      reorganization, conversion or what the Administrator deems in its sole      discretion to be similar circumstances, the number and kind of shares      subject to this Agreement shall be appropriately adjusted in a manner to      be determined in the sole discretion of the Administrator, whose decision      shall be final, binding and conclusive in the absence of clear and      convincing evidence of bad faith.  Any shares of Common Stock or      other securities received, as a result of the foregoing, by you with      respect to the Restricted Shares shall be subject to the same restrictions      as the Restricted Shares, the certificate or other instruments evidencing      such shares of Common Stock or other securities shall be legended and      deposited with the Company as provided above with respect to the      Restricted Shares, and any cash dividends received with respect to such      shares of Common Stock or other securities shall be accumulated as      provided above with respect to the Restricted Shares.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
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| Non-Transferability                                          |   | Restricted      Shares are nottransferable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |

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| No      Effect on Employment          |   | Except      as otherwise provided in your Employment Agreement, dated November 11,      2008, nothing herein shall modify your status as an at-will employee of      the Company or any of its Affiliates.  Further, nothing herein      guarantees you employment for any specified period of      time.  This means that, except as provided in the Employment      Agreement, either you or the Company or any of its Affiliates may      terminate your employment at any time for any reason, with or without      cause, or for no reason.  You recognize that, for instance, you      may terminate your employment or the Company or any of its Affiliates may      terminate your employment prior to the date on which your Shares become      vested.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
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| No      Effect on Corporate Authority |   | You      understand and agree that the existence of this Agreement will not affect      in any way the right or power of the Company or its shareholders to make      or authorize any or all adjustments, recapitalizations, reorganizations,      or other changes in the Company’s capital structure or its business, or      any merger or consolidation of the Company, or any issuance of bonds,      debentures, preferred or other stocks with preferences ahead of or      convertible into, or otherwise affecting the common shares or the rights      thereof, or the dissolution or liquidation of the Company, or any sale or      transfer of all or any part of its assets or business, or any other      corporate act or proceeding, whether of a similar character or      otherwise.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
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| Arbitration                           |   | Any      dispute or disagreement between you and the Company with respect to any      portion of this Agreement (excluding Attachment A hereto) or its validity,      construction, meaning, performance or your rights hereunder shall, unless      the Company in its sole discretion determines otherwise, be settled by      arbitration, at a location designated by  the Company, in      accordance with the Commercial Arbitration Rules of the American      Arbitration Association or its successor, as amended from time to      time.  However, prior to submission to arbitration you will      attempt to resolve any disputes or disagreements with the Company over      this Agreement amicably and informally, in good faith, for a period not to      exceed two weeks.  Thereafter, the dispute or disagreement will      be submitted to arbitration.  At any time prior to a decision      from the arbitrator(s) being rendered, you and the Company may resolve the      dispute by settlement.  You and the Company shall equally share      the costs charged by the American Arbitration Association or its      successor, but you and the Company shall otherwise be solely responsible      for your own respective counsel fees and expenses.  The decision      of the arbitrator(s) shall be made in writing, setting forth the award,      the reasons for the decision and award and shall be binding and conclusive      on you and the Company.  Further, neither you nor the Company      shall appeal any such award.  Judgment of a court of competent      jurisdiction may be entered upon the award and may be enforced as such in      accordance with the provisions of theaward. |

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| Governing      Law                               |   | The      laws of the State of Delaware will govern all matters relating to this      Agreement, without regard to the principles of conflict of      laws.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
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| Notices                                          |   | Any      notice you give to the Company must be in writing and either      hand-delivered or mailed to the office of the Chief Executive Officer of      the Company. If mailed, it should be addressed to the Chief Executive      Officer of the Company at its then main headquarters. Any notice given to      you will be addressed to you at your address as reflected on the personnel      records of the Company. You and the Company may change the address for      notice by like notice to the other. Notice will be deemed to have been      duly delivered when hand-delivered or, if mailed, on the day such notice      is postmarked. |
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| Agreement      Subject to Plan; Entire Agreement |   | This      Agreement shall be subject to the terms of the Plan in effect on the date      hereof, which terms are hereby incorporated herein by reference and made a      part hereof.  This Agreement constitutes the entire      understanding between the Company and you with respect to the subject      matter hereof and no amendment, supplement or waiver of this Agreement, in      whole or in part, shall be binding upon the Company unless in writing and      signed by the President of the Company                                                                                                                            |
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| Conflicting      Terms                           |   | Wherever      a conflict may arise between the terms of this Agreement and the terms of      the Plan in effect on the date hereof, the terms of the Plan will      control.                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |

| ICONIX      BRAND GROUP, INC. |
|-------------------------------|
|                          |
| By:                           | /s/ Warren Clamen |   |

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| /s/ Andrew Tarshis  |   |
|---------------------|--------|
| Andrew      Tarshis |   |
|                |   |
| XXXXXXXX            |   |
| ADDRESS             |   |

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