Exhibit 10.1







Exhibit 10.1




G-III APPAREL GROUP, LTD.

2005 STOCK INCENTIVE PLAN

DEFERRED STOCK AWARD AGREEMENT




AGREEMENT, made as of the 29th day of June, 2011, between G-III APPAREL GROUP, LTD.
(the “Company”) and ______________________________ (the “Grantee”), pursuant to the G-III Apparel Group,
Ltd. 2005 Stock Incentive Plan (the “Plan”).



1. Deferred Stock Award. The Company hereby grants to the Grantee a deferred stock
award under the Plan, consisting of the right to receive __________ shares of the Company’s common
stock (“Shares”) upon the terms and conditions set forth in this Agreement.



2. Vesting Conditions. Except as otherwise provided by this Agreement and the Plan,
the Grantee’s right to receive the Shares covered by this Agreement shall become vested at the rate
of 25% on June 29, 2013, 25% on June 29, 2014, 25% on June 29, 2015, and 25% on June 29, 2016,
subject to the Grantee’s continuous employment or other service with the Company through the
applicable vesting date; provided, however, the Grantee shall have no right to receive any Shares
unless, during any period of twenty consecutive trading days beginning subsequent to the date
hereof and ending on June 29, 2016, the average closing price per share of the Company’s common
stock on the national exchange on which such stock is traded is at least $39.00. For the avoidance
of doubt, the time-based vesting percentages will be cumulative prior to the attainment of the
performance condition, such that, if the performance condition is attained and the Grantee is then
still in the continuous employ or service of the Company, then, upon the attainment of the
performance condition, the Grantee’s vested percentage in the Shares covered by the award will be
equal to the vesting percentage that would have been earned as of the date the performance
condition is attained if vesting had been determined as of that date solely in accordance with the
above time-based vesting schedule.


 


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3. Capital Changes. In the event of a stock dividend, stock split, spin off or other
recapitalization with respect to the outstanding shares of the Company’s common stock, the
Company will make such adjustments to the number of Shares covered by this Agreement and the
targeted stock price as it deems equitable under the circumstances.



4. Termination of Employment or Service. Upon the termination of the Grantee’s
employment or other service with the Company, the Grantee’s right to receive Shares covered by this
Agreement, to the extent not previously vested, will thereupon terminate and be canceled.



5. Issuance of Shares; Rights as a Shareholder.



(a) General. If and as soon as practicable after the Grantee’s right to receive any
Shares becomes vested in accordance with the provisions hereof, the Company will cause such Shares
to be issued and delivered in certificated or electronic form to the Grantee, subject to the
satisfaction of applicable tax withholding requirements.



(b) Tax Withholding. The Company shall require as a condition of the issuance of
vested Shares under this Agreement that the Grantee remit to the Company an amount sufficient in
the opinion of the Company to satisfy any federal, state and other governmental tax withholding
requirements attributable to the vesting or issuance and delivery of the Shares. In addition, or in
the alternative, the Company may satisfy such tax withholding obligation (to the minimum required
extent) in whole or in part by withholding Shares that would otherwise be delivered to the Grantee
based upon the fair market value of the Shares on the applicable date.



(c) Rights as a Shareholder. The Grantee shall have no voting or other rights of a
shareholder with respect to the Shares unless and until such Shares are issued to the Grantee in
accordance with the provisions hereof.



6. Restrictions on Transfer. The Grantee’s right to receive Shares under this
Agreement may not be sold, assigned, transferred, pledged or otherwise alienated or disposed of
(except by will
or the laws of descent and distribution), and may not become subject to attachment,
garnishment, execution or other legal or equitable process, and any attempt to do so shall be null
and void.


 


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7. No Other Rights Conferred. Nothing contained herein shall be deemed to give the
Grantee a right to be retained in the employ of the Company or any affiliate or affect the right of
the Company and its affiliates to terminate or amend the terms and conditions of the Grantee’s
employment.



8. Provisions of the Plan Control. The provisions of the Plan, the terms of which are
incorporated in this Agreement, shall govern if and to the extent that there are inconsistencies
between those provisions and the provisions hereof.



9. Successors. This Agreement shall be binding upon and shall inure to the benefit of
the parties hereto and their respective successors and permitted assigns. This Agreement,
constitutes the entire agreement between the parties with respect to the subject matter hereof and
may not be modified except by written instrument executed by the parties.



10. Governing Law. This Agreement shall be governed by the laws of the State of
Delaware, without regard to its principles of conflict of laws.



11. Counterparts. This Agreement may be executed in separate counterparts, each of
which will be an original and all of which taken together shall constitute one and the same
agreement.



	 	 	 	 	 
	 	G-III APPAREL GROUP, LTD.

 	 
	 	By:  	 	 
	 
	 
	 	Grantee 	 



 


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