Document:

General Release

 Exhibit 10.12 

EXECUTION COPY 
 General
Release 
 1. General Release of All Claims: In exchange for the Company’s payment and provision of the amounts and benefits described in
Section 2(c) of your employment agreement with the J Crew Group, Inc. (the “Company”) dated May 30, 2017 (the “Employment Agreement”), as set forth on Schedule I hereto, you voluntarily, fully and unconditionally
release and forever discharge the Company and its past and present parents, subsidiaries, affiliates, predecessors, successors, assigns, and their respective officers, directors, employees, agents and plan administrators, in their individual and
corporate capacities (hereinafter collectively referred to as “Releasees”) from any and all charges, actions, causes of action, demands, debts, dues, bonds, accounts, covenants, contracts, liabilities, or damages of any nature whatsoever,
whether now known or unknown, to whomever made, which you have or may have against any or all of the Releasees for or by reason of any cause, nature or thing whatsoever arising out of or related to your employment with the Company, or the
termination of such employment, from the beginning of time up to and including the date on which you sign this Agreement, except as otherwise specifically stated in this Agreement. 

Such claims, obligations, or liabilities include, but are not limited to: claims for compensation allegedly due or owing; claims sounding in contract or
implied contract; claims for wrongful dismissal; claims sounding in tort; claims arising under common law, civil law, equity, or federal, state, or local statutes or ordinances, including but not limited to, the Age Discrimination in Employment Act,
as amended; Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; Section 1981 of the Civil Rights Act of 1866; the Equal Pay Act; the Americans with Disabilities Act and/or the Rehabilitation Act of 1973; the
Employee Retirement Income Security Act; the WARN Act; the Consolidated Omnibus Budget Reconciliation Act; the Family Medical Leave Act, as amended; the Genetic Information Nondiscrimination Act of 2008; state statutes governing the payment of
wages, discrimination in the workplace, or any other statute or laws governing the employer-employee relationship, including but not limited to, the New York State Human Rights Law, the New York Labor Law, the New York State Constitution, the New
York Civil Rights Law, the New York wage-hour laws, the New York City Human Rights Law; the Virginia Human Rights Act; the North Carolina Equal Employment Practices Act, the North Carolina Persons with Disabilities Protection Act, the North Carolina
Retaliatory Employment Discrimination Act, the North Carolina Wage & Hour Act; any other claim pursuant to any other federal, state or local employment laws, statutes, standards or human rights legislation; or any claim for severance pay,
notice, pay in lieu of notice, salary, bonus, incentive or additional compensation, vacation pay, insurance, other benefits, interest, and/or attorney’s fees. You acknowledge that this general release is not made in connection with any
exit incentive or other employment termination program offered to a group or class of employees. 
 Notwithstanding the foregoing, nothing in this Agreement
waives your right to (a) pursue a claim that cannot be released by private agreement, including, workers compensation claims, claims arising after the date on which you sign this Agreement, and your right to file administrative charges with
certain government agencies; (b) challenge the Company’s failure to comply with its obligation in Paragraph 1 above; (c) your vested and accrued rights under Company qualified 

 retirement, health, or welfare plans; and (d) any rights you may have to indemnification or the
protection of directors’ and officers’ liability insurance. 
 2. No Claims Filed: You represent that you have not filed or permitted to be
filed against the Releasees, individually or collectively, any lawsuits, actions or claims, and you covenant and agree that you will not do so at any time hereafter with respect to the subject matter of this Agreement and claims released pursuant to
this Agreement (including, without limitation, any claims relating to your employment and/or the termination of your employment). 
 You understand that
nothing in this Agreement shall limit you from filing a charge with, or participating in any investigation or proceeding conducted by, the Equal Employment Opportunity Commission, National Labor Relations Board, the Securities and Exchange
Commission and/or any other federal, state or local agency. However, by signing this Agreement, you hereby waive any and all rights to recover monetary damages in any charge, complaint or lawsuit filed by you or by anyone else on your behalf.

 3. Waiver: By signing this Agreement, you acknowledge that: 
  

	 	(a)	 You have received and carefully read this Agreement; 

 

	 	(b)	 You fully understand all of the terms contained in this Agreement; 

 

	 	(c)	 You are freely and voluntarily entering into this Agreement and knowingly releasing the Releasees in accordance
with the terms contained in Paragraph 1 above; 

  

	 	(d)	 Before signing this Agreement, you were advised of your right and had an opportunity to consult with an
attorney of your choice; 

  

	 	(e)	 In accordance with Paragraph 1 above, you hereby expressly waive, among other claims, any and all claims
arising under the Age Discrimination in Employment Act of 1967 (29 U.S.C. § 621 et seq.), which you have or may have against the Releasees; 

  

	 	(f)	 The release of claims described in Paragraph 1, above, of this Agreement does not waive any rights or claims
that you may have against the Company and/or the Releasees arising after the date on which this Agreement becomes effective; 

  

	 	(g)	 You have received or shall receive something of value from the Company which you would not otherwise be
entitled to receive; 

  

	 	(h)	 Before signing this Agreement, you were given up to twenty-one
(21) calendar days to consider its terms and, should you sign this Agreement without waiting the full 21 days, you attest that your decision in this regard is knowing and voluntary and not induced through fraud, coercion, misrepresentation or a
threat to withdraw or alter the offer contained herein, and agree that any changes to this Agreement do not restart the running of the 21 day period; 

	 	(i)	 The period of time until December 5, 2018, that you had to consider your rights and obligations under this
Agreement was reasonable; and 

  

	 	(j)	 For a period of seven (7) calendar days following the date on which you sign this Agreement, you may
revoke this Agreement; and 

  

	 	(k)	 This Agreement, absent its timely revocation, shall become binding on the Company and you on the eighth
calendar day following the date on which you sign this Agreement. The Company shall not be required to perform any of its obligations under this Agreement until after your time to revoke this Agreement has expired. 

4. Return of Signed Agreement: You should return this signed Agreement to Maria F. DiLorenzo, Senior Vice President, General Counsel and Corporate
Secretary, 770 Broadway, New York, NY 10003 by no later than December 5, 2018. 
 5. Company Release: In consideration of your release
provided herein, the Company, on behalf of itself and its subsidiaries, affiliates, predecessors, successors, and assigns (collectively, the “Company Releasors”), hereby voluntarily, fully and unconditionally releases and forever
discharges you from any and all charges, actions, causes of action, demands, debts, dues, bonds, accounts, covenants, contracts, liabilities, or damages of any nature whatsoever, whether now known or unknown, to whomever made, which the Company
Releasors have or may have against you for or by reason of any cause, nature or thing whatsoever arising out of or related to your employment with the Company, or the termination of such employment, from the beginning of time up to and including the
date on which the Company signs this Agreement, except with respect to such actions that are unknown to the members of the Office of the Chief Executive Officers.

6. Effective Date: You will not receive the benefits identified in Section 2(c) of the Employment Agreement until after the revocation period has
expired and this Agreement becomes effective. You have seven (7) days from the date that you sign this Agreement to change your mind. Any revocation within this period must be (a) submitted in writing to the Company;
(b) state “I hereby revoke my execution of the General Release”; and (c) be personally delivered to Maria F. DiLorenzo, Senior Vice President, General Counsel and Corporate Secretary, or mailed to her attention at J. Crew,
770 Broadway, New York, NY 10003 within seven (7) days of the execution of this Agreement. 
  

	
	Very truly yours,
	
	J. CREW GROUP, INC.
	
	 /s/ MARIA F. DI LORENZO

	By Maria F. Di Lorenzo

 [The remainder of this page is left intentionally blank.] 

 

	
	Received, Read, Understood and Agreed:
	
	 /s/ JAMES BRETT

	James Brett
	
	Dated: November 17, 2018

 Schedule 1 

Severance Benefits 
 The Company
will provide you with the following severance benefits, subject to the terms and conditions of the Employment Agreement: 
  

	 	•	 	 The Company will pay you at the annual rate of $1,250,000 for a period of eighteen (18) months following
your separation date (the “Severance Period”). 

  

	 	•	 	 During the Severance Period, the Company will pay you a monthly amount that, after all applicable taxes are paid,
is equivalent to your monthly COBRA premium for you, your spouse and your dependents, if applicable. 

  

	 	•	 	 The Company will pay you $2,812,500 (which is equivalent to 1.5 times your target Annual Bonus for the 2018
fiscal year), payable in equal monthly installments over the Severance Period. 

  

	 	•	 	 The Company will pay you, when bonuses are generally paid to employees of the Company, your Annual Bonus (if any)
for the 2018 fiscal year that you actually would have been entitled to receive had your employment not been terminated (with any subjective goals being treated as achieved at target), multiplied by a fraction, the numerator of which was the number
of days that you were employed during the 2018 fiscal year and the denominator of which is 365). ($1,479,452.05, based on a separation date of November 17, 2018.) 

 

	 	•	 	 The Company will pay you $750,000 (which is equivalent to the unpaid Third Installment of your signing bonus) as
soon as reasonably practicable following your separation date. 

  

	 	•	 	 The Company will credit you with an additional eighteen (18) months’ service credit with respect to
management equity granted to you whose vesting is based solely on continued employment (i.e. time vesting). (An aggregate of 845,214 shares, including previously vested RSUs, of the original grant will be vested at your separation date.)

  

	 	•	 	 In the event that the applicable performance conditions are satisfied or a Change of Control occurs, in either
case within twelve (12) months following your separation date, your management equity that vests based on satisfaction of performance conditions shall then vest to the extent such management equity would have vested had you remained employed by
the Company through the satisfaction of the applicable performance conditions or the date of the Change of Control, as applicable.Amendment to Letter Agreement, August 2, 2017

 Exhibit 10.13 

Amendment to Letter Agreement 

August 2, 2017 
 Mr. Michael J.
Nicholson 
 Dear Mike: 
 Reference is made to the letter
agreement between you and J. Crew Group, Inc. (the “Company”), dated December 3, 2015 (the “Employment Agreement”). The purpose of this letter (the “Amendment”) is to amend the terms of the Employment Agreement,
effective as of the date hereof. Capitalized terms not otherwise defined herein will have the same meaning as under the Employment Agreement. In consideration of your continued contributions and your acceptance of changes to your duties
and responsibilities following the employment of the Company’s new chief executive officer (as set forth below), and for other good and valuable consideration the receipt of which is hereby acknowledged, the parties agree to amend the
Employment Agreement effective as of the date hereof (except as otherwise provided herein), as follows: 
 1. Effective May 25, 2017,
Section 3(a) is amended to delete the number “$800,000” in the first sentence thereof, and replace it with “$1,000,000.” 

2. A new Section 3(g) is added, to read in its entirety as follows: 

“(g) Retention Bonus. The Company shall pay you a retention bonus in three installments, in each case conditioned
on your continued employment with the Company from the date hereof to the installment payment date set forth herein: (1) five hundred thousand dollars ($500,000) on January 1, 2018; (2) five hundred thousand dollars ($500,000) on
July 1, 2018; and (3) one million dollars ($1,000,000) on May 1, 2019. In the event the Company terminates the Employment Period without Cause or you resign for Good Reason, or you terminate employment by reason of death or
Disability (as defined herein) (1) on or before July 1, 2018, the Company will pay you $1,000,000 (less any prior installment payments already paid), and (2) after July 1, 2018 and on or before May 1, 2019, the Company will
pay you a pro rata portion of the next scheduled unpaid installment, based on the number of full elapsed months during such period, in the case of each (1) and (2) subject to and conditioned upon your (or your estate’s) execution of a
valid general release and waiver within sixty (60) days after your Termination Date.” 
 3. A new section 3(h) is added, to read in its
entirety as follows: 
 “(h) Transformation Incentive Plan. You will be eligible to participate in the 2017
Transformation Incentive Plan (“TIP”) in accordance with the terms thereof. Your target award shall be communicated in an award statement to be issued to you by the Company, and any payout(s) thereunder shall be made pursuant and subject
to the terms of the TIP. In the event of your termination by the Company without Cause, your resignation for Good Reason, or your death or Disability, you shall be entitled to receive the TIP award for (1) the performance period in which
your Termination Date occurs and (2) the performance period that ends next following the performance period in which your 

 Termination Date occurs (in the case of both (1) and (2), based upon actual
performance), payable at the time or times provided in the TIP, subject to and conditioned upon your (or your estate’s) execution of a valid general release and waiver within sixty (60) days after your Termination Date.” 

4. A new Section 2(g) is added, to read in its entirety as follows: 

“(g) In the event that (1) you remain continuously employed by the Company until February 1, 2020, and
(2) after the date hereof and before February 1, 2020, the Company achieves Adjusted EBITDA (“EBITDA”), determined on a trailing twelve fiscal month basis, of no less than $300 million (“EBITDA Target”), provided
that the EBITDA Target is sustained at such level for a period of six (6) fiscal months thereafter, and (3) you thereafter terminate your employment with the Company between February 2, 2020 and August 1, 2020, by providing the
Board and/or Company with at least thirty (30) days’ advance written notice prior to such termination, you shall be entitled to the payments and benefits and otherwise be subject to the terms and conditions of the above subparagraphs i.,
ii., iii., iv., and vi. of Section 2(c). The EBITDA Target shall be equitably adjusted in good faith after the date hereof by the Board or the Compensation Committee of the Board to reflect the consequences future acquisitions and
dispositions. In particular, but not in limitation of the foregoing, the Board or the Compensation Committee shall equitably reduce the EBITDA Target in the event of a sale or disposition of Madewell Inc. (“Madewell”),
including without limitation by reason of a spin-off and distribution of Madewell stock to the Company’s shareholders. For purposes of this Section 2(g), (1) Adjusted EBITDA shall be calculated
consistently with the methodology disclosed in the quarterly earnings release filed with the SEC on Form 8-K, and (2) you will not be treated as having terminated employment without Cause or for Good
Reason for purposes of Section 4 herein.” 
 5. The following sentence is added to the end of Section 3(e), to read in its entirety as
follows: 
 “You shall be eligible to participate in any new equity plan adopted by the Company for the benefit of its senior
executives, including without limitation any program relating to the grant of Parent preferred stock to members of senior management.” 
 6. The
following sentence is added to the end of Section 2(f), to read as follows: 
 “You understand and agree that for purposes of
Section 2(f)(i) (but, for the avoidance of doubt, not for purposes of Section 2(f)(ii)) your position, authority, duties or responsibilities as President and Chief Operating Officer will change from time to time as directed by the Chief
Executive Officer in accordance with Section 1(a) and that such changes shall not constitute Good Reason except to the extent that such changes are materially and adversely inconsistent with your role as President and Chief Operating Officer at
the time that your employment commenced with the Company.” 

 Except as specifically set forth herein, your Employment Agreement remains in full force and effect in
accordance with its terms. 
  

			
	Very truly yours,
	
	J. CREW GROUP, INC.
		
	By:	 	 /s/ LYNDA MARKOE

	Name:	 	Lynda Markoe
	Title:	 	EVP – Human Resources

  

	
	Received, Read, Understood and Agreed:
	
	 /s/ MICHAEL J. NICHOLSON

	Michael J. Nicholson
	
	Dated: August 2, 2017

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