Exhibit 10.5
 SECOND AMENDMENT OF LEASE
(33rd Floor)
 THIS SECOND AMENDMENT OF LEASE 500-512 SEVENTH AVENUE LIMITED PARTNERSHIP, G-III LEATHER FASHIONS, INC.
 RECITALS:
 WHEREAS
 WHEREAS
 WHEREAS
 NOW, THEREFORE
  1




---



##### 



Recitals; Definitions
 Extension of Term
 Fixed Rent and Additional Rent for Premises through March 31, 2011
 Real Estate Taxes for the Premises through March 31, 2011
 Real Estate Taxes During the Extension Term
  2




---



##### 



Rent for Premises  Extended Term
 Time Period
    
    Fixed Rent per Annum and per MonthApril 1, 2011 
    
    $329,344.00 per annumMarch 31, 2012
    
    ($27,445.33 per month)April 1, 2012 
    
    $337,577.60 per annumMarch 31, 2013
    
    ($28,131.47 per month)April 1, 2013 
    
    $346,017.04 per annumMarch 31, 2014
    
    ($28,834.75 per month)April 1, 2014 
    
    $354,667.47 per annumMarch 31, 2015
    
    ($29,555.62 per month)April 1, 2015 
    
    $363,534.15 per annumMarch 31, 2016
    
    ($30,294.51 per month)April 1, 2016 
    
    $372,622.51 per annumMarch 31, 2017
    
    ($31,051.88 per month)April 1, 2017 
    
    $403,186.07 per annumMarch 31, 2018
    
    ($33,598.84 per month)April 1, 2018 
    
    $413,265.72 per annumMarch 31, 2019
    
    ($34,438.81 per month)April 1, 2019 
    
    $423,597.36 per annumMarch 31, 2020
    
    ($35,299.78 per month)April 1, 2020 
    
    $434,187.30 per annumMarch 31, 2021
    
    ($36,182.27 per month)April 1, 2021 
    
    $445,041.98 per annumMarch 31, 2022
    
    ($37,086.83 per month)April 1, 2022 
    
    $456,168.03 per annumMarch 31, 2023
    
    ($38,014.00 per month)
  3




---



##### 



Rent Credit During the Extension Term
  Renewal Option Renewal Option Renewal
Term
 Renewal Notice
  4




---



##### 



Fixed Rent in Renewal Term for PremisesTime Period
    
    Fixed Rent Per Annum
    
    
    Fixed Rent Per MonthApril 1, 2023  March 31, 2024
    
    $
    501,784.83
    
    
    $
    41,815.40April 1, 2024  March 31, 2025
    
    $
    514,329.45
    
    
    $
    42,860.79April 1, 2025  March 31, 2026
    
    $
    527,187.69
    
    
    $
    43,932.31April 1, 2026  March 31, 2027
    
    $
    540,367.38
    
    
    $
    45,030.62April 1, 2027  March 31, 2028
    
    $
    553,876.56
    
    
    $
    46,156.38
   5




---



##### 



Landlords Liability
 Brokerage
 Landlords Contribution
 Landlords Contribution Landlords Contribution
  6




---



##### 



Parameters .
 Payment multiplied by
  7




---



##### 



8




---



##### 



Articles Deleted
 Notices to Landlord
 Electricity, Water and Sewer
  9




---



##### 



Tenants Surrender Option
 Article Second .
 Rent Control.
   10




---



##### 



Capital Improvements
 Continued Occupancy
 Late Charge
  11




---



##### 



Assignment and Sublet
  Removal of Tenant Improvements
  Ratification
  12




---



##### 



Entire Agreement; No Waiver
 Submission of Amendment
 Binding Effect; Governing Law
  13




---



##### 



Counterparts
 No Recordation
 [The remainder of this page is intentionally blank. Signatures are on the next page.]
  14




---



##### 



IN WITNESS WHEREOF
 LANDLORD:
500-512 SEVENTH AVENUE LIMITED PARTNERSHIPBy:
    /s/ Joseph ChetritName and Title:TENANT:
G-III LEATHER FASHIONS, INC.By:
    /s/ Wayne S. MillerName and Title:  15




---



##### 



EXHIBIT A




---



#####