Document:

Exhibit 10.3

 

LOCK-UP AGREEMENT

 

THIS LOCK-UP
AGREEMENT (this “Agreement”) is made as of [●], 2017 by and between (i) Atlantic Alliance Partnership
Corp., a British Virgin Islands business company with limited liability, (including any successor entity thereto, the “Company”)
and (ii) the undersigned (“Holder”). Any capitalized term used but not defined in this Agreement will
have the meaning ascribed to such term in the Merger Agreement (as defined below).

 

WHEREAS,
the Company and Kalyx Development Inc., a Maryland corporation (“Kalyx”), are parties to that certain
Merger Agreement, dated as of May 8, 2017 (as amended, the “Merger Agreement”), pursuant to which Kalyx
will merge with and into the Company, with the Company continuing as the surviving entity as a Maryland incorporated real estate
investment trust (the “Merger”), and as a result of which, among other matters, (i) all of the issued
and outstanding capital stock of Kalyx immediately prior to the effective time of the Merger will no longer be outstanding and
shall automatically be cancelled and shall cease to exist, in exchange for the right of the holder of such shares to receive a
number of shares of the capital stock of the Company, as set forth in the Merger Agreement, and (ii) outstanding Kalyx Warrants
will be assumed by the Company (such assumed warrants, the “Company Warrants”), with certain warrants
being amended in accordance with the terms set out in the Merger Agreement, all upon the terms and subject to the conditions set
forth in the Merger Agreement and in accordance with the applicable provisions of the Maryland General Corporation Law, as amended.

 

WHEREAS,
holders of Class A Units and LTIP profits interests of the Operating Partnership (the “OP Units”) have
the right to convert those OP Units for shares of Kalyx Common Stock under certain circumstances, as set forth in the Operating
Partnership Agreement, and after the consummation of the transactions contemplated by the Merger Agreement (the “Closing”),
the OP Units will instead have the right to convert into shares of Company common stock;

 

WHEREAS,
Holder is a holder of shares of Kalyx stock, Kalyx Warrants and/or OP Units in such amounts as set forth underneath Holder’s
name on the signature page hereto; and

 

WHEREAS,
pursuant to the Merger Agreement, and in view of the valuable consideration to be received by Holder thereunder, the Company and
Holder desire to enter into this Agreement, pursuant to which the shares of Company common stock issued to Holder as Merger Consideration,
the Company Warrants issued to Holder, all shares of Company common stock underlying the Company Warrants received by Holder in
the Merger and all OP Units held by Holder and shares of Company common stock received by Holder in conversion of Holder’s
OP Units (all such securities, together with any securities paid as dividends or distributions with respect to such securities
or into which such securities are exchanged or converted, the “Restricted Securities”) shall become subject
to limitations on disposition as set forth herein.

 

    	1

    	 

    

 

 NOW,
THEREFORE, in consideration of the premises set forth above, which are incorporated in this Agreement as if fully set forth
below, and intending to be legally bound hereby, the parties hereby agree as follows:

 

	 	1.	Lock-Up Provisions.

 

(a)  Holder
hereby agrees not to, during the period commencing from the Closing and continuing for the earliest of: (x) the one (1) year anniversary
date of the Closing, (y) the date on which the closing sale price of the Company’s common stock equals or exceeds Twelve
U.S. Dollars (US$12.00) per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations) for any
twenty (20) trading days within any thirty (30) trading day period commencing at least one-hundred and fifty (150) days after
the Closing, and (z) the date after the Closing on which the Company consummates a transaction, including a liquidation,
merger, stock exchange or other similar transaction (a “Subsequent Transaction”), which results in all
of the Company’s stockholders having the right to exchange their shares of Company common stock for cash, securities or
other property (such period, the “Lock-Up Period”): (i) lend, offer, pledge, hypothecate, encumber,
donate, assign, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant
any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any Restricted Securities,
(ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences
of ownership of the Restricted Securities, or (iii) publicly disclose the intention to do any of the foregoing, whether any
such transaction described in clauses (i), (ii), or (iii) above is to be settled by delivery of Restricted Securities or other
securities, in cash or otherwise (any of the foregoing described in clauses (i), (ii), or (iii), a “Prohibited Transfer”).
The foregoing sentence shall not apply to the transfer of any or all of the Restricted Securities owned by Holder, (A) by gift,
will or intestate succession upon the death of Holder, (B) to any Permitted Transferee or (C) pursuant to a court order or settlement
agreement related to the distribution of assets in connection with the dissolution of marriage or civil union; provided, however,
that in any of cases (A), (B) or (C) it shall be a condition to such transfer that the transferee executes and delivers to the
Company an agreement stating that the transferee is receiving and holding the Restricted Securities subject to the provisions
of this Agreement applicable to Holder, and there shall be no further transfer of such Restricted Securities except in accordance
with this Agreement. As used in this Agreement, the term “Permitted Transferee” shall mean: (I) the
members of Holder’s immediate family (for purposes of this Agreement, “immediate family” shall mean any relationship
by blood, marriage or adoption, not more remote than first cousin), (II) any trust for the direct or indirect benefit of Holder
or the immediate family of Holder, (III) if Holder is a trust, to the trustor or beneficiary of such trust or to the estate of
a beneficiary of such trust, (IV) as a distribution to limited partners, shareholders, members of, or owners of similar equity
interests in Holder upon the liquidation and dissolution of Holder or (V) to any affiliate of Holder or to any investment fund
or other entity controlled by Holder.

 

(b)  If
any Prohibited Transfer is made or attempted contrary to the provisions of this Agreement, such purported Prohibited Transfer shall
be null and void ab initio, and the Company shall refuse to recognize any such purported transferee of the Restricted Securities
as one of its equity holders for any purpose. In order to enforce this Section 1, the Company may impose stop-transfer
instructions with respect to the Restricted Securities of Holder (and permitted transferees and assigns thereof) until the end
of the Lock-Up Period.

 

(c)  During
the Lock-Up Period, each certificate evidencing any Restricted Securities shall be stamped or otherwise imprinted with a legend
in substantially the following form, in addition to any other applicable legends:

 

“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN A LOCK-UP AGREEMENT, DATED AS OF [●], 2017, BY AND
AMONG THE ISSUER OF SUCH SECURITIES (THE “COMPANY”) AND THE COMPANY’S SHAREHOLDER NAMED THEREIN, AS AMENDED.
A COPY OF SUCH LOCK-UP AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE COMPANY TO THE HOLDER HEREOF UPON WRITTEN REQUEST.”

 

(d)  For
the avoidance of any doubt, Holder shall retain all of its rights as a shareholder of the Company during the Lock-Up Period, including
the right to vote any Restricted Securities.

 

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	 	2.	Miscellaneous.

 

(a)  Termination
of Merger Agreement. Notwithstanding anything to the contrary contained herein, in the event that the Merger Agreement is
terminated in accordance with its terms prior to the Closing, this Agreement and all rights and obligations of the parties
hereunder shall automatically terminate and be of no further force or effect.

 

(b)  Binding
Effect; Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties
hereto and their respective permitted successors and assigns. This Agreement and all obligations of Holder are personal to Holder
and may not be transferred or delegated by Holder at any time. The Company may freely assign any or all of its rights under this
Agreement, in whole or in part, to any successor entity (whether by merger, consolidation, equity sale, asset sale or otherwise)
without obtaining the consent or approval of Holder.

 

(c)  Authorization
on Behalf of the Company. The parties acknowledge and agree that notwithstanding anything to the contrary contained in this
Agreement, any determinations, actions or other authorizations under this Agreement on behalf of the Company, including enforcing
the Company’s rights and remedies under this Agreement, or providing any waivers with respect to the provisions hereof, shall
solely be made by the Company’s directors who qualify as independent directors under the applicable U.S. national stock exchange
on which shares of the Company’s common stock are then listed (or if the Company’s common stock no longer listed on
an U.S. national stock exchange, the last national stock exchange on which the Company’s common stock was listed) and are
otherwise not the Holder or an Affiliate of the Holder (the “Independent Directors”), with the Independent
Directors acting by majority vote, consent or approval thereof. In the event that the Company at any time does not have any Independent
Directors, so long as Holder has any remaining obligations under this Agreement, the Company will promptly appoint one in connection
with this Agreement. Without limiting the foregoing, in the event that Holder or Holder’s Affiliate serves as a director,
officer, employee or other authorized agent of the Company or any of its current or future Affiliates, Holder and/or Holder’s
Affiliate shall have no authority, express or implied, to act or make any determination on behalf of the Company or any of its
current or future Affiliates in connection with this Agreement or any dispute or Action with respect hereto.

 

(d)  Third
Parties. Nothing contained in this Agreement or in any instrument or document executed by any party in connection with the
transactions contemplated hereby shall create any rights in, or be deemed to have been executed for the benefit of, any person
or entity that is not a party hereto or thereto or a successor or permitted assign of such a party.

 

(e)  Governing
Law; Jurisdiction. This Agreement and any dispute or controversy arising out of or relating to this Agreement shall be governed
by and construed in accordance with the laws of the State of New York, without regard to the conflict of law principles thereof.
All Actions arising out of or relating to this Agreement shall be heard and determined exclusively in any state or federal court
located in New York, New York (or in any appellate courts thereof) (the “Specified Courts”). Each party
hereto hereby (i) submits to the exclusive jurisdiction of any Specified Court for the purpose of any Action arising out of
or relating to this Agreement brought by any party hereto and (ii) irrevocably waives, and agrees not to assert by way of
motion, defense or otherwise, in any such Action, any claim that it is not subject personally to the jurisdiction of the above-named
courts, that its property is exempt or immune from attachment or execution, that the Action is brought in an inconvenient forum,
that the venue of the Action is improper, or that this Agreement or the transactions contemplated hereby may not be enforced in
or by any Specified Court. Each party agrees that a final judgment in any Action shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by Law. Each party irrevocably consents to the service of
the summons and complaint and any other process in any other action or proceeding relating to the transactions contemplated by
this Agreement, on behalf of itself, or its property, by personal delivery of copies of such process to such party at the applicable
address set forth in Section 2(h). Nothing in this Section 2(e) shall affect the right of any party
to serve legal process in any other manner permitted by applicable law.

 

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(f)  WAIVER
OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY
HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT
OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (i) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND
(ii) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE
MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 2(f).

 

(g)  Interpretation.
The titles and subtitles used in this Agreement are for convenience only and are not to be considered in construing or interpreting
this Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used in this Agreement shall include
the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural
and vice versa; (ii) “including” (and with correlative meaning “include”) means including without limiting
the generality of any description preceding or succeeding such term and shall be deemed in each case to be followed by the words
“without limitation”; (iii) the words “herein,” “hereto,” and “hereby” and other
words of similar import in this Agreement shall be deemed in each case to refer to this Agreement as a whole and not to any particular
section or other subdivision of this Agreement; and (iv) the term “or” means “and/or”. The parties have
participated jointly in the negotiation and drafting of this Agreement. Consequently, in the event an ambiguity or question of
intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption
or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement.

 

(h)  Notices.
All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have been duly given
when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation of receipt, (iii) one
Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) three (3) Business
Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in each case to the applicable
party at the following addresses (or at such other address for a party as shall be specified by like notice):

 

	
        If to the Company prior to the Closing, to:

         

        Atlantic Alliance Partnership Corp.

        590 Madison Avenue

        New York, New York 10022

        Attn: Jonathan Mitchell

        Telephone No: 212-409-2434

        Email: jmitchell@aapcacq.com
	
        with a copy (that will not constitute notice) to:
        

         

        Ellenoff Grossman & Schole LLP

        1345 Avenue of the Americas, 11th Floor

        New York, New York 10105

        Attention: Douglas Ellenoff

        Facsimile No.: (212) 370-7889

        Telephone No.: (212) 370-1300

        Email: ellenoff@egsllp.com

 

    	4

    	 

    

 

	
        If to the Company after the Closing, to:

         

        Kalyx Properties Inc.

        366 Madison Avenue, 11th Floor

        New York, New York 10017

        Attn: George M. Stone

        Facsimile No.: 212-315-3446

        Telephone No: 914-921-9252

        Email: gstone@Kalyxdevelopment.com
	
        with a copy (that will not constitute notice) to:
        

         

        Ellenoff Grossman & Schole LLP

        1345 Avenue of the Americas, 11th Floor

        New York, New York 10105

        Attention: Douglas Ellenoff

        Facsimile No.: (212) 370-7889

        Telephone No.: (212) 370-1300

        Email: ellenoff@egsllp.com

         

        and with a copy (that will not constitute notice)
        to: 

         

        Reitler Kailas & Rosenblatt LLC

        800 Third Avenue 21st Floor

        New York, New York 10022

        Attn: Scott Rosenblatt

        Fax No.: 212-371-5500

        Telephone No: 212-209-3040

        Email: srosenblatt@reitlerlaw.com

	 
	If to Holder, to: the address set forth below Holder’s name on the signature page to this Agreement.

 

(i)  Amendments
and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either
generally or in a particular instance, and either retroactively or prospectively) only with the written consent of the Company
and Holder. No failure or delay by a party in exercising any right hereunder shall operate as a waiver thereof. No waivers of or
exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or construed
as a further or continuing waiver of any such term, condition, or provision.

 

(j)  Severability.
In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction, such provision shall
be modified or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid, legal and enforceable,
and the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby
nor shall the validity, legality or enforceability of such provision be affected thereby in any other jurisdiction. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the parties will substitute for any invalid,
illegal or unenforceable provision a suitable and equitable provision that carries out, so far as may be valid, legal and enforceable,
the intent and purpose of such invalid, illegal or unenforceable provision.

 

(k)  Specific
Performance. Holder acknowledges that its obligations under this Agreement are unique, recognizes and affirms that in the event
of a breach of this Agreement by Holder, money damages will be inadequate and the Company will have not adequate remedy at law,
and agrees that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed by
Holder in accordance with their specific terms or were otherwise breached. Accordingly, the Company shall be entitled to an injunction
or restraining order to prevent breaches of this Agreement by Holder and to enforce specifically the terms and provisions hereof,
without the requirement to post any bond or other security or to prove that money damages would be inadequate, this being in addition
to any other right or remedy to which the Company may be entitled under this Agreement, at law or in equity.

 

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(l)   Entire
Agreement. This Agreement constitutes the full and entire understanding and agreement among the parties with respect to the
subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties
is expressly canceled; provided that, for the avoidance of doubt, the foregoing shall not affect the rights and obligations
of the parties under the Merger Agreement or any Ancillary Document. Notwithstanding the foregoing, nothing in this Agreement shall
limit any of the rights or remedies of the Company or any of the obligations of Holder under any other agreement between Holder
and the Company or any certificate or instrument executed by Holder in favor of the Company, and nothing in any other agreement,
certificate or instrument shall limit any of the rights or remedies of the Company or any of the obligations of Holder under this
Agreement.

 

(m)  Further
Assurances. From time to time, at another party’s request and without further consideration (but at the requesting party’s
reasonable cost and expense), each party shall execute and deliver such additional documents and take all such further action as
may be reasonably necessary to consummate the transactions contemplated by this Agreement.

 

(n)   Counterparts;
Facsimile.  This Agreement may also be executed and delivered by facsimile signature or by email in portable document
format in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and
the same instrument.

 

[Remainder of Page Intentionally
Left Blank; Signature Pages Follow]

 

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IN WITNESS
WHEREOF, the parties have executed this Lock-Up Agreement as of the date first written above.

 

	The Company:
	 
	Atlantic Alliance Partnership Corp.
	 	 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

	Holder:

	 
	 	 
	By:	 	 
	Name:	 	 

  

Number
and Type of Shares of Kalyx Capital Stock, Kalyx Warrants and/or OP Units:

 

Shares
of Kalyx Capital Stock:

 

________
shares of Kalyx Common Stock

________
shares of Kalyx Series A Preferred Stock

________
shares of Kalyx Series B Preferred Stock

 

Kalyx
Warrants:

 

________
Kalyx Common warrants

________
Kalyx Series A Preferred Stock warrants

________
Kalyx Series B Preferred Stock warrants

 

OP
Units:

 

________
Class A Units

________
LTIP profits interests

 

Address
for Notice:

 

Address:
__________________________________

__________________________________________

__________________________________________

Facsimile
No.: _______________________________

Telephone
No.: ______________________________

Email: _____________________________________

 

{Signature Page to Lock-Up Agreement}

 

 

7EX-10.1

 Exhibit 10.1 

AGREEMENT 
 This AGREEMENT
(this “Agreement”), is entered into between Abercrombie & Fitch Management Co., a Delaware corporation (the “Company”), and INSERT EXECUTIVE’S NAME (the “Executive”) as of the
execution date by the Company below (the “Effective Date”). 
 WHEREAS, the Executive is employed with the Company pursuant
to a letter agreement between the Executive and the Company dated as of INSERT DATE and signed by Executive on INSERT DATE (the “Letter Agreement”); 

WHEREAS, the Company and the Executive entered into an Agreement dated as of INSERT DATE (the “Prior Agreement”) that sets
forth the terms under which the Executive may be entitled to severance benefits upon the occurrence of certain events; 
 WHEREAS,
concurrently with this Agreement, the Company will grant the Executive time-based and performance-based equity awards covering shares of the Company’s common stock (the “Promotion Awards”); and 

WHEREAS, the Company and the Executive desire to enter into this Agreement to alter and supersede the terms of the Prior Agreement, as set
forth below. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein, the Company and the Executive hereby agree as
follows: 
 1.    Term of Agreement; Termination of Employment 

(a) Term. The term of this Agreement shall be from the Effective Date and for a period of two years thereafter (the “Original
Term”); provided, that, this Agreement shall be automatically extended, subject to earlier termination as provided herein, for successive additional one year periods (each, an “Additional Term”), on the second anniversary
of the Effective Date and each subsequent anniversary thereof unless, at least 90 days before the date on which an Additional Term otherwise would automatically begin, the Company or the Executive notifies the other in writing that the Term (as
defined below) shall not be extended by any Additional Terms thereafter. Notwithstanding the foregoing, if a Change of Control (as defined below) occurs during the Original Term or an Additional Term, the term of this Agreement shall extend until
the later of the Original Term or an Additional Term or the 18-month anniversary of such Change of Control (such extension, together with the Original Term or any Additional Terms, the
“Term”). 
 (b) At-Will Nature of Employment. The Executive acknowledges and
agrees that the Executive’s employment with the Company is and shall remain “at-will” and the Executive’s employment with the Company may be terminated at any time and for any reason (or no
reason) by the Company, with or without notice, or the Executive, subject to the terms of this Agreement. During the period of the Executive’s employment with the Company, the Executive shall perform such duties and fulfill such
responsibilities as reasonably requested by the Company from time to time commensurate with the Executive’s position with the Company. 

(c) Termination of Employment by the Company. During the Term, the Company may terminate the Executive’s employment at any time
with or without Cause (as defined below) pursuant to the Notice of Termination provision below. 

 (d) Termination of Employment by the Executive. During the Term, the Executive may
terminate employment with the Company with or without Good Reason (as defined below) by delivering to the Company, not less than thirty (30) days prior to the Termination Date, a written notice of termination; provided, that, if such
termination of employment is by the Executive with Good Reason, such notice shall state in reasonable detail the facts and circumstances that constitute Good Reason. This provision does not change the at-will
nature of Executive’s employment, and the Company may end Executive’s employment, pursuant to Executive’s notice, prior to the expiration of the thirty (30) days’ notice. 

(e) Notice of Termination. Any termination of the Executive’s employment by the Company or by the Executive shall be communicated
by a written Notice of Termination addressed to the Executive or the Company, as applicable. A “Notice of Termination” shall mean a notice stating that the Executive’s employment with the Company has been or will be terminated
and the specific provisions of this Section 1 under which such termination is being effected. 
 (f) Termination
Date. Subject to Section 4(a) hereof, “Termination Date” as used in this Agreement shall mean in the case of the Executive’s death or Disability (as defined below), the date of death or Disability, or in all other cases of
termination by the Company or the Executive, the date specified in writing by the Company or the Executive as the Termination Date in accordance 

with Section 1(e). 
 2.
    Compensation Upon Certain Terminations by the Company. 
 (a) Termination Without Cause, or for Good
Reason. If the Executive’s employment is terminated during the Term (i) by the Company without Cause (other than as a result of the Executive’s death or Disability), or (ii) by the Executive for Good Reason, in each
case, other than during the COC Protection Period (as defined below), the Company shall (A) pay to the Executive any portion of Executive’s accrued but unpaid base salary earned through the Termination Date; (B) pay to the Executive
any annual bonus that was earned by the Executive for the fiscal year immediately preceding the fiscal year in which the Termination Date occurs, to the extent not already paid; (C) reimburse the Executive for any and all amounts advanced in
connection with Executive’s employment with the Company for reasonable and necessary expenses incurred by Executive through the Termination Date in accordance with the Company’s policies and procedures on reimbursement of expenses;
(D) pay to the Executive any earned vacation pay not theretofore used or paid in accordance with the Company’s policy for payment of earned and unused vacation time; and (E) provide to the Executive all other accrued but unpaid
payments and benefits to which Executive may be entitled under the terms of any applicable compensation arrangement or benefit plan or program of the Company (excluding any severance plan or policy of the Company) (collectively, the “Accrued
Compensation”). In addition, provided that the Executive executes a release of claims in a form acceptable to the Company (a “Release”), returns such Release to the Company by no later than 45 days following the Termination
Date (the “Release Deadline”) and does not revoke such Release prior to the expiration of the applicable revocation period (the date on which such Release becomes effective, the “Release Effective Date”), then
subject to the further provisions of Sections 3, 4, and 6 below, the Company shall have the following obligations with respect to the Executive (or the Executive’s estate, if applicable), subject to applicable taxes and withholdings: 

  
 2 

	 	(1)	The Company will continue to pay the Executive’s Base Salary (as defined below) during the period beginning on the Executive’s Termination Date and continuing for eighteen months thereafter (“Salary
Continuation”). This Salary Continuation payment shall be paid in bi-weekly installments, consistent with the Company’s payroll practices. Subject to Sections 4(c) and 4(d) hereof, the first such
payment shall be made on the first payroll date following the Release Effective Date, such payment to include all payments that would have otherwise been payable between the Termination Date and the date of such payment. 

 

	 	(2)	The Company will pay to the Executive, with respect to the short-term cash bonus plan in which the Executive was eligible to participate in the year of the Executive’s Termination Date, on the six (6) month
anniversary of the Executive’s Termination Date, a pro-rated amount of the Executive’s bonus under such plan based on actual performance during the applicable performance period, determined in
accordance with the terms of the plan and subject to the approval of the Compensation and Organization Committee of the Board of Directors, through the earlier to occur of the end of the applicable performance period and the six (6) month
anniversary of the Executive’s Termination Date. The pro-rated amount will be calculated using a fraction where the numerator is the number of days from the beginning of the applicable bonus period
through the Termination Date and the denominator is the total number of days in the applicable bonus period.  

  

	 	(3)	Subject to the Executive’s timely election of continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), during the period in which Salary
Continuation is in effect, the Company shall reimburse the Executive for 100% of the monthly premium costs of COBRA coverage, less applicable withholding taxes on such reimbursement; provided, however, that the Company’s obligation to provide
such benefits shall cease upon the earlier of (i) the Executive’s becoming eligible for such benefits as the result of employment with another employer and (ii) the expiration of the Executive’s right to continue such medical and
dental benefits under applicable law (such as COBRA); provided, further, that notwithstanding the foregoing, the Company shall not be obligated to provide the continuation coverage contemplated by this Section 2(a)(3) if it would result in the
imposition of excise taxes on the Company for failure to comply with the nondiscrimination requirements of the Patient Protection and Affordable Care Act of 2010, as amended, and the Health Care and Education Reconciliation Act of 2010, as amended
(to the extent applicable). 

  

	 	(4)	The Executive will be eligible to receive the additional cash amounts in lieu of the Executive’s then-outstanding and unvested equity replacement grants and inducement equity grants, as described under the heading
“Termination Without Cause or for Good Reason” in the Letter Agreement. Subject to Sections 4(c) and 4(d) hereof, the first such payment shall be made on the first payroll date following the Release Effective Date. 

  
 3 

 For the avoidance of doubt, except as provided in Section 2(a)(4), the payments and obligations set forth in this
Section 2(a) shall be in lieu of any payments due to the Executive under the Letter Agreement or the Prior Agreement. 
 (b) Termination
for Cause, without Good Reason, or Death. If the Executive’s employment is terminated during the Term by the Company for Cause, by the Executive without Good Reason or by reason of the Executive’s death, the Company shall
provide the Executive (or the Executive’s estate, if applicable) with only the Accrued Compensation. 
 (c) Termination due to
Disability. If the Executive’s employment is terminated by the Company by reason of the Executive’s Disability, the Company shall have the following obligations with respect to the Executive (or the Executive’s estate, if
applicable): (i) the Company shall provide the Executive with the Accrued Compensation; and (ii) the Executive shall be entitled to receive any disability benefits available under the Company’s Long-Term Disability Plan (if any). For
purposes of this Agreement, “Disability” means a physical or mental infirmity which impairs the Executive’s ability to substantially perform the Executive’s duties with the Company or its subsidiaries for a period of at
least six (6) months in any twelve (12)-month calendar period as determined in accordance with the Company’s long-term disability plan or, in the absence of such plan, as determined by the Company’s Board of Directors (the
“Board”). 
 (d) Change of Control. If the Executive’s employment is terminated during the Term (i) by the
Company other than for Cause, or due to the Executive’s death or Disability or (ii) by the Executive for Good Reason, in each case, during the three months prior to, and the eighteen months following, a Change of Control (such period, the
“COC Protection Period”), then the Company shall provide the Executive with the Accrued Compensation and, subject to the Executive executing a Release, returning such Release to the Company by no later than the Release Deadline, and
not revoking such Release prior to the expiration of the applicable revocation period, and subject to the further provisions of Sections 2(j), 3, 4 and 6 below, and, in lieu of any payments due to the Executive in the Letter Agreement or the Prior
Agreement, the Company shall have the following obligations with respect to the Executive (or the Executive’s estate, if applicable), subject to applicable taxes and withholdings: 

 

	 	(1)	The Company will pay the Executive an amount equal to eighteen months of the Executive’s Base Salary in effect on the Termination Date, payable in bi-weekly installments over
the eighteen months following the Termination Date, consistent with the Company’s payroll practices. Subject to Section 4(c) and 4(d) hereof, the first such payment shall be made on the first payroll date following the Release Effective Date,
such payment to include all payments that would have been payable between the Termination Date and the date of such payment. Notwithstanding the foregoing, to the extent that the amounts described in this Section 2(d)(1) qualify for an exemption
under Section 409A of the Code (e.g., the short-term deferral exemption under Section 409A of the Code or the “separation pay exception” under Treasury Regulation § 1.409A-1(b)(9)(iii)), the
amounts shall be paid in a lump sum on the sixtieth (60th) day following the Termination Date provided that payment at such time would not result in the imposition of tax penalties under Section
409A of the Code. 

  

	 	(2)	 The Company will pay Executive an amount equal to 1.5 times the Executive’s Target Bonus. Subject to
Sections 4(c) and 4(d) hereof, such amount shall be 

  
 4 

	 	
payable in a lump sum on the sixtieth (60th) day following the Termination Date, except to the extent (i) of the amount determined under
Section 2(a)(2) but only (ii) where such amount described in Section 2(d)(2)(i) becomes payable other than an account of a termination during the one-year period following a Change of Control. To that
extent, the amount shall be paid at the time described in Section 2(a)(2) to the extent necessary to avoid the imposition of tax penalties under Section 409A of the Code. 

 

	 	(3)	Subject to the Executive’s timely election of continuation coverage under COBRA for a period of eighteen months following the Termination Date, the Company shall reimburse the Executive for 100% of the monthly
premium costs of COBRA coverage, less applicable withholding taxes on such reimbursement; provided, however, that the Company’s obligation to provide such benefits shall cease upon the earlier of (i) the Executive’s becoming eligible
for such benefits as the result of employment with another employer and (ii) the expiration of the Executive’s right to continue such medical and dental benefits under applicable law (such as COBRA); provided, further, that notwithstanding
the foregoing, the Company shall not be obligated to provide the continuation coverage contemplated by this Section 2(d)(3) if it would result in the imposition of excise taxes on the Company for failure to comply with the nondiscrimination
requirements of the Patient Protection and Affordable Care Act of 2010, as amended, and the Health Care and Education Reconciliation Act of 2010, as amended (to the extent applicable). 

For the avoidance of doubt, the payments and obligations set forth in this Section 2(d) shall be in lieu of any payments due to the Executive under the Letter
Agreement or the Prior Agreement. 
 (e) Definitions. 
  

	 	(1)	Base Salary. For the purpose of this Agreement, “Base Salary” shall mean the Executive’s annual rate of base salary as in effect on the applicable date; provided, however, that if the
Executive’s employment with the Company is being terminated by the Executive for Good Reason as a result of a reduction in the Executive’s Base Salary, then “Base Salary” shall, for purposes of the definition of “Good
Reason” and Section 3 of this Agreement, constitute the Executive’s Base Salary as in effect prior to such reduction. 

  

	 	(2)	Cause. For purposes of this Agreement, “Cause” shall mean: (i) the Executive’s conviction of, or entrance of a plea of guilty or nolo contendere to, a felony under federal or state law;
(ii) fraudulent conduct by the Executive in connection with the business affairs of the Company; (iii) the Executive’s willful refusal to materially perform the Executive’s duties hereunder; (iv) the Executive’s willful
misconduct which has, or would have if generally known, a materially adverse effect on the business or reputation of the company; or (v) the Executive’s material breach of a covenant, representation, warranty or obligation of the Executive
to the Company. With respect to the circumstances in subsections (iii), (iv), and (v), above, such circumstances will only constitute “Cause” once the Company has provided the Executive written notice and the Executive has failed to cure
such issue within 30 days. No act or failure to act on the Executive’s part shall be considered “willful” unless done, or omitted to be done, by the Executive in bad faith and without reasonable belief that the Executive’s action
or omission was in the best interest of the Company. 

  
 5 

	 	(3)	Change of Control. For purposes of this Agreement, “Change of Control” shall have the same meaning as such term is defined in the Company’s 2016 Long-Term Incentive Plan for Associates;
provided, however, that for purposes of this Agreement, such definition shall only apply to the extent that the event that constitutes such a “Change of Control” also constitutes a “change in ownership or control” as such
term is defined in Section 409A of the United States Internal Revenue Code of 1986, as amended (the “Code”), and the regulations and guidance issued thereunder (“Section 409A of the Code”). 

 

	 	(4)	Good Reason. For purposes of this Agreement, “Good Reason” shall mean, without the Executive’s written consent: (i) a reduction in the Executive’s Base Salary or Target Bonus as in effect
from time to time; (ii) a material reduction (including as a result of any co-sharing of responsibilities arrangement) of the Executive’s authority, responsibilities, or duties, (iii) a
requirement that the Executive be based at a location in excess of 50 miles from the location of its principal executive office as of the date of this Agreement; (iv) the Company fails to obtain the written assumption of its obligations to the
Executive under this Agreement by a successor no later than the consummation of a Change of Control; (v) a material breach by the Company of its obligations to the Executive under this Agreement; or (vi) in anticipation or contemplation of
or following a Change of Control, as defined above, a material adverse change in the Executive’s reporting structure; which in each of the circumstances described above, is not remedied by the Company within 30 days of receipt of written notice
by the Executive to the Company; so long as the Executive provides such written notice to the Company no later than 90 days following the first date the event giving rise to a claim of Good Reason exists. 

 

	 	(5)	Target Bonus. “Target Bonus” shall mean the percentage of the Executive’s Base Salary equal to the Executive’s short-term cash bonus opportunity under the terms of the applicable short-term
cash bonus program in which the Executive is entitled to participate in respect of the fiscal year of the Company in which the Termination Date occurs (if any); provided, however, that if the Executive’s employment with the Company is
terminated by the Executive for Good Reason as a result of a reduction in the Executive’s Target Bonus, then “Target Bonus” shall mean the Executive’s Target Bonus as in effect immediately prior to such reduction.

 (f) Mitigation. The Executive shall not be required to mitigate the amount of any payment provided for in this
Section 2 by seeking other employment or otherwise and no such payment or benefit shall be eliminated, offset or reduced by the amount of any compensation provided to the Executive in any subsequent employment, except as provided in Section
2(a)(3) or Section 2(d)(3). 
 (g) Resignation from Office. The Executive’s termination of employment with the Company for any
reason shall be deemed to automatically remove the Executive, without further action, from any and all offices held by the Executive with the Company or its affiliates. The Executive shall execute such additional documents as requested by the
Company from time to time to evidence the foregoing. 

  
 6 

 (h) Exclusivity. This Agreement is intended to provide severance payments and/or benefits
only under the circumstances expressly enumerated under Section 2 hereof. Unless otherwise determined by the Company in its sole discretion, in the event of a termination of the Executive’s employment with the Company for any reason (or no
reason) or at any time other than as expressly contemplated by Section 2 hereof, the Executive shall not be entitled to receive any severance payments and/or benefits or other further compensation from the Company hereunder whatsoever, except
for the Accrued Compensation and any other rights or benefits to which the Executive is otherwise entitled pursuant to the requirements of applicable law. Except as otherwise expressly provided in this Section 2, all of the Executive’s
rights to salary, bonuses, fringe benefits and other compensation hereunder (if any) which accrue or become payable after the Termination Date will cease upon the Termination Date. 

(i) Set-Off. The Executive agrees that, to the extent permitted by applicable law, the Company
may deduct from and set-off against any amounts otherwise payable to the Executive under this Agreement such amounts as may be owed by the Executive to the Company. The Executive shall remain liable for any
part of the Executive’s payment obligation not satisfied through such deduction and setoff. 
 (j) Exclusive Remedies. The
Executive agrees and acknowledges that the payments and benefits set forth in this Section 2 shall be the only payments and benefits to which the Executive is entitled from the Company in connection with the termination of the Executive’s
employment with the Company, and that neither the Company nor its subsidiaries shall have any liability to the Executive or the Executive’s estate, whether under this Agreement, the Letter Agreement, the Prior Agreement or otherwise, in
connection with the termination of the Executive’s employment. 
 3.    Limitations on Certain Payments. Notwithstanding any
provision of this Agreement to the contrary, if any amount or benefit to be paid or provided under this Agreement or otherwise would be an “excess parachute payment,” within the meaning of Section 280G of the Code, or any successor
provision thereto, but for the application of this sentence, then the payments and benefits identified in the second to last sentence of this Section 3 to be paid or provided will be reduced to the minimum extent necessary (but in no event to
less than zero) so that no portion of any such payment or benefit, as so reduced, constitutes an excess parachute payment; provided, however, that the foregoing reduction will be made only if and to the extent that such reduction would result in an
increase in the aggregate payment and benefits to be provided to the Executive, determined on an after-tax basis (taking into account the excise tax imposed pursuant to Section 4999 of the Code, or any
successor provision thereto, any tax imposed by any comparable provision of state law, and any applicable federal, state and local income and employment taxes). Whether requested by the Executive or the Company, the determination of whether any
reduction in such payments or benefits to be provided under this Agreement or otherwise is required pursuant to the preceding sentence will be made at the expense of the Company by a certified accounting firm that is independent from the Company. In
the event that any payment or benefit intended to be provided under this Agreement or otherwise is required to be reduced pursuant to this Section 3, the Company will reduce the Executive’s payments and/or benefits, to the extent required,
in the following order: (a) the payments due under Section 2(d)(3) (beginning with the payment farthest out in time that would otherwise be paid); (b) the 

  
 7 

 
payments due under Section 2(d)(1) (beginning with the payment farthest out in time that would otherwise be paid); (c) the payment due under Section 2(d)(2). The assessment of whether or not such
payments or benefits constitute or would include excess parachute payments shall take into account a reasonable compensation analysis of the value of services provided or to be provided by the Executive, including any agreement by the Executive (if
applicable) to refrain from performing services pursuant to a covenant not to compete or similar covenant applicable to you that may then be in effect. 

4.    Section 409A of the Code; Withholding. 
  

	 	(a)	This Agreement is intended to avoid the imposition of taxes and/or penalties under Section 409A of the Code. The parties agree that this Agreement shall at all times be interpreted, construed and operated in a manner to
avoid the imposition of taxes and/or penalties under with Section 409A of the Code. To the extent required for compliance with Section 409A of the Code, all references to a termination of employment and separation from service shall mean
“separation from service” as defined in Section 409A of the Code, and the date of such “separation from service” shall be referred to as the “Termination Date”. 

 

	 	(b)	All reimbursements provided under this Agreement shall comply with Section 409A of the Code and shall be subject to the following requirement: (i) the amount of expenses eligible for reimbursement, during the
Executive’s taxable year may not affect the expenses eligible for reimbursement to be provided in another taxable year; and (ii) the reimbursement of an eligible expense must be made by December 31 following the taxable year in which
the expense was incurred. The right to reimbursement is not subject to liquidation or exchange for another benefit. 

  

	 	(c)	Notwithstanding anything in this Agreement to the contrary, for purposes of the period specified in this Agreement relating to the timing of the Executive’s execution of the Release as a condition of the
Company’s obligation to provide any severance payments or benefits, if such period would begin in one taxable year and end in a second taxable year, any payment otherwise due to the Executive upon execution of the Release shall be made in the
second taxable year and without regard to when the Release was executed or became irrevocable. 

  

	 	(d)	If the Executive is a “specified employee” (as defined under Section 409A of the Code) on the Executive’s Termination Date, to the extent that any amount payable under this Agreement constitutes “non-qualified deferred compensation” under Section 409A of the Code (and is not otherwise excepted from Section 409A of the Code coverage by virtue of being considered “separation pay” or a
“short term deferral” or otherwise) and is payable to Executive based upon a separation from service, such amount shall not be paid until the first day following the six (6) month anniversary of the Executive’s Termination Date
or the Executive’s death, if earlier. 

  

	 	(e)	To the maximum extent permitted under Section 409A of the Code, the payments and benefits under this Agreement are intended to meet the requirements of the short-term deferral exemption under Section 409A of the Code
and the “separation pay exception” under Treasury Regulation §1.409A-1(b)(9)(iii). Any right to a series of installment payments shall be treated as a right to a series of separate payments for
purposes of Section 409A of the Code. 

  
 8 

	 	(f)	All amounts due and payable under this Agreement shall be paid less all amounts required to be withheld by law, including all applicable federal, state and local withholding taxes and deductions. 

5.    Indemnification. The Company shall indemnify, defend, and hold the Executive harmless to the maximum extent permitted by law
and the Company by-laws against all judgments, fines, amounts paid in settlement and all reasonable expenses, including attorneys’ fees incurred by the Executive, in connection with the defense of or as a
result of any action or proceeding (or any appeal from any action or proceeding) in which the Executive is made or is threatened to be made a party by reason of the fact that the Executive is or was an officer or director of the Company. Subject to
the terms of the Company’s director and officer indemnification policies then in effect, the Company acknowledges that the Executive will be covered and insured up to the full limits provided by all directors’ and officers’ insurance
which the Company then maintains to indemnify its directors and officers. 
 6.     Executive Covenants. 

 

	 	(a)	For the purposes of this Section 6, the term “Company” shall include Abercrombie & Fitch Management Co. and all of its subsidiaries, parent companies and affiliates thereof

  

	 	(b)	Non-Disclosure and Non-Use. The Executive shall not, during the Term and at all times thereafter, without the written authorization
of the Chief Executive Officer (“CEO”) of the Company or such other executive governing body as may exist in lieu of the CEO, (hereinafter referred to as the “Executive Approval”), use (except for the benefit of the
Company) any Confidential and Trade Secret Information relating to the Company. The Executive shall hold in strictest confidence and shall not, without the Executive Approval, disclose to anyone, other than directors, officers, employees and counsel
of the Company in furtherance of the business of the Company, any Confidential and Trade Secret Information relating to the Company. For purposes of this Agreement, “Confidential and Trade Secret Information” includes: the general
or specific nature of any concept in development, the business plan or development schedule of any concept, vendor, merchant or customer lists or other processes, know-how, designs, formulas, methods,
software, improvements, technology, new products, marketing and selling plans, business plans, development schedules, budgets and unpublished financial statements, licenses, prices and costs, suppliers, and information regarding the skills,
compensation or duties of employees, independent contractors or consultants of the Company and any other information about the Company that is proprietary or confidential. Notwithstanding the foregoing, nothing herein shall prevent the Executive
from disclosing Confidential and Trade Secret Information to the extent required by law or by any court or regulatory authority having actual or apparent authority to require such disclosure or in connection with any litigation or arbitration
involving this Agreement. 

 The restrictions set forth in this Section 6(b) shall not apply to information that is or becomes
generally available to the public or known within the Company’s trade or 

  
 9 

 
industry (other than as a result of its wrongful disclosure by the Executive), or information received on a non-confidential basis from sources other than
the Company who are not in violation of a confidentiality agreement with the Company. 
 The Executive further represents and agrees that,
during the Term and at all times thereafter, the Executive is obligated to comply with the rules and regulations of the Securities and Exchange Commission (“SEC”) regarding trading shares and/or exercising options related to the
Company’s stock. The Executive acknowledges that the Company has not provided opinions or legal advice regarding the Executive’s obligations in this respect and that it is the Executive’s responsibility to seek independent legal
advice with respect to any stock or option transaction. 
  

	 	(c)	Non-Disparagement and Cooperation. Neither the Executive nor any officer, director of the Company, nor any other spokesperson authorized as a spokesperson by any officer or
director of the Company, shall, during the Term or at any time thereafter, intentionally state or otherwise publish anything about the other party which would adversely affect the reputation, image or business relationships and goodwill of the other
party in the market and community at large. During the Term and at all times thereafter, the Executive shall fully cooperate with the Company in defense of legal claims asserted against the Company and other matters requiring the testimony or input
and knowledge of the Executive. If at any time the Executive should be required to cooperate with the Company pursuant to this Section 6(c), the Company agrees to promptly reimburse the Executive for reasonable documented costs and expenses incurred
as a result thereof. The Executive agrees that, during the Term and at all times thereafter, the Executive will not speak or communicate with any party or representative of any party, who is known to the Executive to be either adverse to the Company
in litigation or administrative proceedings or to have threatened to commence litigation or administrative proceedings against the Company, with respect to the pending or threatened legal action, unless the Executive receives the written consent of
the Company to do so, or is otherwise compelled by law to do so, and then only after advance notice to the Company. Nothing herein shall prevent the Executive from pursuing any claim in connection with enforcing or defending the Executive’s
rights or obligations under this Agreement, or engaging in any activity as set forth in Section 14 of this Agreement. 

  

	 	(d)	 Non-Competition. For the period of Executive’s employment
with the Company and its subsidiaries and for twelve (12) months following Executive’s Termination Date with the Company and its subsidiaries for any reason (the “Non-Competition
Period”), Executive shall not, directly or indirectly, without the Executive Approval, own, manage, operate, join, control, be employed by, consult with or participate in the ownership, management, operation or control of, or be connected
with (as a stockholder, partner, or otherwise), any entity listed on Appendix A attached to this Agreement, or any of their current or future divisions, subsidiaries or affiliates (whether majority or minority owned), even if said division,
subsidiary or affiliate becomes unrelated to the entity on Appendix A at some future date, or any other entity engaged in a business that is competitive with the Company in any part of the world in which the Company conducts business or is
actively preparing or considering conducting business (“Competing Entity”); provided, however, that the “beneficial ownership” by the Executive, either individually or by a “group” in which the

  
 10 

	 	
Executive is a member (as such terms are used in Rule 13d of the General Rules and Regulations under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), of
less than 2% of the voting stock of any publicly held corporation shall not be a violation of this Section 6(d). The Executive acknowledges and agrees that any consideration that the Executive received in respect of any non-competition covenant in favor of the Company or its subsidiaries entered into prior to the date hereof shall be incorporated herein as consideration for the promises set forth in this Section 6(d) and that the
provisions contained in this Section 6(d) shall supersede any prior non-competition covenants between the Executive and the Company or its subsidiaries. 

 

	 	(e)	Non-Solicitation. For the period of Executive’s employment with the Company and its subsidiaries and for twenty-four (24) months following Executive’s
Termination Date with the Company and its subsidiaries for any reason (“Non-Solicitation Period”), the Executive shall not, either directly or indirectly, alone or in conjunction with
another party, interfere with or harm, or attempt to interfere with or harm, the relationship of the Company with any person who at any time was a customer or supplier of the Company or otherwise had a business relationship with the Company. During
the Non-Solicitation Period, the Executive shall not hire, solicit for hire, aid in or facilitate the hire, or cause to be hired, either as an employee, contractor or consultant, any person who is currently
employed, or was employed at any time during the six-month period prior thereto, as an employee, contractor or consultant of the Company. The Executive acknowledges and agrees that any consideration that the
Executive received for in respect of any non-solicitation covenant in favor of the Company or its subsidiaries entered into prior to the date hereof shall be incorporated herein as consideration for the
promises set forth in this Section 6(e) and that the provisions contained in this Section 6(e) shall supersede any prior non-solicitation covenants between the Executive and the Company or its subsidiaries.

  

	 	(f)	Confidentiality of this Agreement. Unless this Agreement is required to be publicly disclosed under applicable U.S. securities laws, the Executive agrees that, during the Term and at all times thereafter, the
Executive shall not speak about, write about, or otherwise publicize or disclose to any third party the terms of this Agreement or any fact concerning its negotiation, execution or implementation, except with (i) an attorney, accountant, or
other advisor engaged by the Executive; (ii) the Internal Revenue Service or other governmental agency upon proper request; or (iii) the Executive’s immediate family; provided, that all such persons agree in advance to keep said
information confidential and not to disclose it to others. This Section 6(f) shall not prohibit Executive from disclosing the terms of this Section 6 to a prospective employer. 

 

	 	(g)	 Remedies. The Executive agrees that any breach of the terms of this Section 6 would result in
irreparable injury and damage to the Company for which the Company would have no adequate remedy at law; the Executive therefore also agrees that in the event of said breach or any threat of breach, the Company shall be entitled to an immediate
injunction and restraining order to prevent such breach and/or threatened breach and/or continued breach by the Executive and/or any and all persons and/or entities acting for and/or with the Executive, without having to prove damages. The terms of
this Section 6(g) shall not prevent the Company from pursuing any other available remedies for any breach or threatened breach hereof, including but not limited to the 

  
 11 

	 	
recovery of damages from the Executive. The Executive and the Company further agree that the confidentiality provisions and the covenants not to compete and solicit contained in this
Section 6 are reasonable and that the Company would not have entered into this Agreement but for the inclusion of such covenants herein. The parties agree that the prevailing party shall be entitled to all costs and expenses, including
reasonable attorneys’ fees and costs, in addition to any other remedies to which either may be entitled at law or in equity in connection with the enforcement of the covenants set forth in this Section 6. Should a court with jurisdiction
determine, however, that all or any portion of the covenants set forth in this Section 6 is unreasonable, either in period of time, geographical area, or otherwise, the parties hereto agree that such covenants or portion thereof should be
interpreted and enforced to the maximum extent that such court deems reasonable. In the event of any violation of the provisions of this Section 6, the Executive acknowledges and agrees that the post-termination restrictions contained in this
Section 6 shall be extended by a period of time equal to the period of such violation, it being the intention of the parties hereto that the running of the applicable post-termination of employment restriction period shall be tolled during any
period of such violation. In the event of a material violation by the Executive of this Section 6, any severance being paid to the Executive pursuant to Section 2 of this Agreement or otherwise shall immediately cease, and the aggregate
gross amount of any severance previously paid to the Executive shall be immediately repaid to the Company. 

  

	 	(h)	The provisions of this Section 6 shall survive any termination of this Agreement and any termination of the Executive’s employment, and the existence of any claim or cause of action by the Executive against
the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of the covenants and agreements of this Section 6. 

7.    Successors and Assigns. 
  

	 	(a)	This Agreement shall be binding upon and shall inure to the benefit of the Company, its successors and assigns, and the Company shall require any successor or assign to expressly assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession or assignment had taken place. The term “the Company” as used herein shall include any such successors and assigns
to the Company’s business and/or assets. The term “successors and assigns” as used herein shall mean a corporation or other entity acquiring or otherwise succeeding to, directly or indirectly, all or substantially all the assets and
business of the Company (including this Agreement) whether by operation of law or otherwise. 

  

	 	(b)	Neither this Agreement nor any right or interest hereunder shall be assignable or transferable by the Executive, the Executive’s beneficiaries or legal representatives, except by will or by the laws of descent and
distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive’s legal personal representative. 

 8.
    Arbitration. Except with respect to the remedies set forth in Section 6(g) hereof, any controversy or claim between the Company or any of its affiliates and the Executive arising out of or relating to this Agreement or
its termination shall be settled and determined by a single 

  
 12 

 
arbitrator whose award shall be accepted as final and binding upon the parties. The American Arbitration Association, under its Employment Arbitration Rules, shall administer the binding
arbitration. The arbitration shall take place in Columbus, Ohio. The Company and the Executive each waive any right to a jury trial or to a petition for stay in any action or proceeding of any kind arising out of or relating to this Agreement or its
termination and agree that the arbitrator shall have the authority to award costs and attorney fees to the prevailing party. 

9.    Effect on Prior Agreements. Except as otherwise set forth herein, this Agreement supersedes all provisions in prior
agreements, either express or implied, between the parties hereto, with respect to post-termination payments and/or benefits, including the Letter Agreement and the Prior Agreement; provided, that, this Agreement shall not supersede the
Company’s 2005, 2007 or 2016 Long-Term Incentive Plans (or any other applicable equity plan) or any applicable award agreements evidencing equity-based incentive awards thereunder, including the Promotion Awards (the “Equity
Documents”), and any rights of the Executive with respect to equity-based incentive awards hereunder shall be in addition to, and not in lieu of, any rights pursuant to the Equity Documents. No provisions of this Agreement shall supersede
or nullify the clawback provisions in the Equity Documents or any of the applicable Company incentive compensation plans. For the avoidance of doubt, except as otherwise set forth herein, the post-termination payments and benefits provided herein
shall be in lieu of, and not in addition to, any post-termination payment or benefits provided under the terms of the Prior Agreement and Letter Agreement. 

10.     Notice. For the purposes of this Agreement, notices and all other communications provided for in this Agreement (including
the Notice of Termination) shall be in writing and shall be deemed to have been duly given when personally delivered or sent by registered or certified mail, return receipt requested, postage prepaid, or upon receipt if overnight delivery service or
facsimile is used, addressed as follows: 
 To the Executive: 

To Executive’s last home address as listed in the books and records of the Company. 

To the Company: 

Abercrombie & Fitch Management Co. 

6301 Fitch Path 
 New Albany, Ohio
43054 
 Attn: General Counsel 
 11.
    Miscellaneous. No provision of this Agreement may be modified, waived, or discharged unless such waiver, modification, or discharge is agreed to in writing and signed by the Executive and the Company. No waiver by
either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or
conditions at the same or at any prior or subsequent time. No agreement or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not expressly set forth in this
Agreement. 
 12.    Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of
the State of Ohio without giving effect to the conflict of law principles thereof. Except as provided in Section 8, any actions or proceedings instituted under this Agreement with respect to any matters arising under or related to this
Agreement shall be brought and tried only in the Court of Common Please, Franklin County, Ohio. 

  
 13 

 13.     Severability. The provisions of this Agreement shall be deemed severable and
the invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. 

14.    Protected Rights. Nothing contained in this Agreement limits Executive’s ability to file a charge or complaint with the
Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission or any other federal, state or local governmental agency or commission
(“Government Agencies”). Executive further understands that this Agreement does not limit Executive’s ability to communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be
conducted by any Government Agency, including providing documents or other information, without notice to the Company. This Agreement does not limit Executive’s right to receive an award from a Government Agency for information provided to any
Government Agency. 

  
 14 

 IN WITNESS WHEREOF, the undersigned has hereto set his/her hand this
             day of                     , 2017. 

 

	
	              

	INSERT EMPLOYEE’S NAME

 IN WITNESS WHEREOF, the undersigned has hereto set his hand this
             day of                     , 2017. 

 

	
	              

	Arthur C. Martinez
	Executive Chairman of the Board of Directors
	Abercrombie & Fitch Co.

  
 15 

 Appendix A 

(all current and future (as described in Section 6(d) of the Agreement) subsidiaries, divisions and affiliates of the entities below) 

 

			
	 American Eagle Outfitters, Inc.

 
	  	Gap, Inc.
	 J. Crew Group, Inc.

 
	  	Pacific Sunwear of California, Inc.
	 Urban Outfitters, Inc.

 
	  	Aeropostale, Inc.
	 Polo Ralph Lauren Corporation

 
	  	Ascena Retail Group
	 Lululemon Athletica, Inc.

 
	  	Levi Strauss & Co.
	L Brands (formerly known as Limited Brands, including, without limitation, Victoria’s Secret, Pink, Bath & Body Works, La Senza and Henri Bendel)	  	Express, Inc.
	 Nike, Inc.

 
	  	Under Armour, Inc.
	 Amazon.com, Inc.

 
	  	 

  
 16

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