Document:

2/15/05
                       THRID LEASE MODIFICATION AGREEMENT

     THIS THIRD LEASE MODIFICATION AGREEMENT, made this 23rd day of February,
2005 by and between 1000 SECAUCUS ROAD, L.L.C. (SUCCESSOR IN INTEREST TO HARTZ
MOUNTAIN ASSOCIATES), a New Jersey partnership, having an office at 400 Plaza
Drive, P.O. Box 1515, Secaucus, New Jersey 07096-1515 (hereinafter referred to
as "Landlord") and G-III LEATHER FASHIONS, INC., a New York corporation having
an office at 512 7TH Avenue, New York, New York 10018 (hereinafter referred to
as "Tenant").

                                   WITNESSETH:

     WHEREAS, by Agreement of Lease dated September 21, 1993, as amended by
Consent to Sublease dated May 26, 2000, Lease Modification Agreement dated March
10, 2004 and Second Lease Modification Agreement dated August 26 2004
(collectively the "Lease") Landlord leased to Tenant and Tenant hired from
Landlord approximately 107,186 square feet of Floor Space located at 1000
Secaucus Road in Secaucus, New Jersey (hereinafter the "Demised Premises"); and

     WHEREAS, Landlord and Tenant wish to modify the Lease to reflect an
increase in the area of the Demised Premises and amend the Lease accordingly;

     NOW, THEREFORE, for and in consideration of the Lease, the mutual covenants
herein contained and the consideration set forth herein, the parties agree as
follows:

1. ADDITIONAL PREMISES: The Demised Premises shall be expanded to include an
additional approximately 94,962 square feet of Floor Space (the "Additional
Premises") as noted on Exhibit A, annexed hereto. Landlord hereby leases to
Tenant and Tenant hereby leases from Landlord the Additional Premises, which
shall be delivered to Tenant on October 1, 2005 (the "Additional Premises
Commencement Date"). Except as expressly provided to the contrary, from and
after the Additional Premises Commencement Date all references in the Lease to
the Demised Premises shall be deemed to include the Additional Premises.

2. TERM: The Term of the Lease is hereby extended for an additional five year
period (the "Second Extended Period") until February 28, 2011 (the "Expiration
Date"). The Term for the leasing of the Additional Premises shall be for the
period beginning on the Additional Premises Commencement Date and continuing
until the Expiration Date.

3. FIXED RENT: During the Second Extended Period, the Fixed Rent for the Demised
Premises shall be at the annual rate of Five and 87/100 Dollars ($5.87)
multiplied by the Floor Space of the Demised Premises. The Fixed Rent for the
Additional Premises shall be at the annual rate of Five and 87/100 Dollars
($5.87) multiplied but the Floor Space of the Additional Premises.

4. TENANT'S FRACTION: Effective as of Additional Premises Commencement Date, the
Tenant's Fraction shall be increased from 53.06% to 100%.

                                        1

5. LANDLORD'S WORK: Landlord shall perform the following at its sole cost and
expense with respect to the Additional Premises:

     1. All existing mechanicals, lights and loading docks will be delivered in
good working order.

     2. Existing offices to be repainted with one of Landlord's standard paint
selections chosen by Tenant.

     3. Existing offices to be re-carpeted with one of Landlord's standard
carpet selections chosen by Tenant and all existing vinyl floor will be stripped
and polished.

     4. Upon consultation with Tenant Landlord will provided six 10' x 10'
openings in order to connect the existing Demised Premises to the Additional
Premises.

     5. All existing cracks and pot holes in the parking area will be repaired.

6. SECURITY DEPOSIT: On the date hereof Tenant shall deliver to Landlord an
additional Security Deposit in the sum of $71,222.00 in the form of a Letter of
Credit or an amendment to the existing Letter of Credit.

7. RENEWAL OPTION: The extension of the Term period for above shall be deemed to
be Tenant's exercise of the renewal option contained in the Lease and there
shall be no further option to renew

8. LANDSCAPING: From and after the Additional Premises Commencement Date, Tenant
(rather than Landlord) shall be responsible for the performance of the ground
and maintenance specifications annexed hereto as Exhibit B.

9. CERTIFICATION: Tenant certifies that: (i) it is not acting, directly or
indirectly, for or on behalf of any person, group, entity, or nation named by
any Executive Order or the United States Treasury Department as a terrorist,
"Specially Designated National and Blocked Person," or other banned or blocked
person, entity, nation, or transaction pursuant to any law, order, rule, or
regulation that is enforced or administered by the Office of Foreign Assets
Control; and (ii) it is not engaged in this transaction, directly or indirectly
on behalf of, or instigating or facilitating this transaction, directly or
indirectly on behalf of, any such person, group, entity, or nation. Tenant
hereby agrees to defend, indemnify, and hold harmless Landlord from and against
any and all claims, damages, losses, risks, liabilities, and expenses (including
reasonable attorney's fees and costs) arising from or related to any breach of
the foregoing certification.

10. Except as provided herein, all of the terms and conditions of the Lease as
amended above are in full force and effect and are confirmed as if fully set
forth herein.

                                       2

     IN WITNESS WHEREOF, the parties hereto have caused this Third Lease
Modification Agreement to be duly executed as of the day and year first above
written.

                                          1000 SECAUCUS ROAD, L.L.C.

                                          BY: HARTZ MOUNTAIN ASSOCIATES
                                          BY: HARTZ MOUNTAIN INDUSTRIES, INC.

                                          By: /s/ Vincent Rubino
                                              ----------------------------------
                                              Vincent Rubino
                                              Senior Vice President

                                          G-III LEATHER FASHIONS, INC.

                                          By: /s/ Wayne Miller
                                              ----------------------------------
                                              Name: Wayne S. Miller
                                              Title: Chief Operating Officer

G-III Apparel Group, Ltd., as Guarantor, hereby agrees that its obligations
under its Guaranty dated September 21, 1993 shall remain in full force and
effect and shall apply to all obligations with respect to the foregoing Third
Lease Modification Agreement.

                                              G-III Apparel Group LTD.

                                              By: /s/ Wayne Miller
                                                  ------------------------------
                                                  Name: Wayne S. Miller
                                                  Title: Chief Operating Officer

Copyright (C) Hartz Mountain Industries, Inc. 2003. All Rights Reserved. No
portion of this document may be reproduced without the express written consent
of Hartz Mountain Industries, Inc.

                                       3Exhibit
10.12(a)

G-III APPAREL GROUP, LTD.
1997 STOCK OPTION
PLAN
FORM OF STOCK OPTION AGREEMENT

AGREEMENT made as of
the [    ] day of [            ],
200[    ], by and between G-III APPAREL GROUP, LTD., a
Delaware corporation (the "Company"), and
[                                ] (the
"Optionee").

W I T N E S S E T
H:

WHEREAS, pursuant to the G-III Apparel Group, Ltd. 1997
Stock Option Plan, as amended (the "Plan"),
the Company desires to grant to the Optionee and the Optionee desires
to accept an option to purchase shares of common stock, $.01 par value,
of the Company (the "Common Stock") upon the
terms and conditions set forth in this Agreement.

NOW,
THEREFORE, the parties hereto agree as follows:

1.    The
Company hereby grants to the Optionee an option to purchase
[                ] shares of Common Stock at a
purchase price per share of $[                ]. This
option is intended to be an "incentive stock
option" within the meaning of Section 422 of the Internal
Revenue Code of 1986, as amended.

2.    Except as specifically
provided herein, this option will become exercisable in accordance with
the following schedule based upon the number of full years of the
Optionee's continuous service with the Company or a subsidiary
following the date
hereof:

											
	Full
Years of Continuous
 Service		Incremental Percentage of

Option Exercisable		Cumulative Percentage of
 Option
Exercisable
	Less than
1		 	0	% 		 	0	% 
	1		 	20	% 		 	20	% 
	2		 	20	% 		 	40	% 
	3		 	20	% 		 	60	% 
	4		 	20	% 		 	80	% 
	5
or
more		 	20	% 		 	100	% 
	

Unless
sooner terminated, this option will expire if and to the extent it is
not exercised within ten years from the date hereof.

3.    To
the extent exercisable, this option may be exercised in whole or in
part by delivering to the Secretary of the Company (a) a written notice
specifying the number of shares to be purchased, and (b) payment in
full of the exercise price, together with the amount, if any, deemed
necessary by the Company to enable it to satisfy any income tax
withholding obligations attributable to the exercise. The exercise
price shall be payable by bank or certified check or pursuant to such
other methods approved by the Committee (as defined in the Plan) and
permitted by applicable law from time to time.

4.    No shares
of Common Stock shall be sold or delivered hereunder until full payment
for such shares has been made. The Optionee shall have no rights as a
stockholder with respect to any shares covered by this option until a
stock certificate for such shares is issued to him. Except as otherwise
provided herein, no adjustment shall be made for dividends or
distributions of other rights for which the record date is prior to the
date such stock certificate is issued.

5.    This option is
not assignable or transferable except upon the Optionee's death
to a beneficiary designated by the Optionee in a written beneficiary
designation filed with the Company or, if no duly designated
beneficiary shall survive the Optionee, pursuant to the
Optionee's will and/or by the laws of descent and distribution,
and is exercisable during the Optionee's lifetime only by the
Optionee.

6.    If the Optionee ceases to be employed by or to
perform services for the Company and any subsidiary for any reason
other than death or disability (defined below), then, unless sooner
terminated under the terms hereof, this option will terminate on the
date three months after the date of the 

1

Optionee's termination of employment or
service provided, however, if the Optionee's employment or
service is terminated by the Company for cause (defined below), then
this option will terminate upon the date of such termination of
employment or service. If the Optionee's employment or service is
terminated by reason of the Optionee's death or disability (or if
the Optionee's employment or service is terminated by reason of
disability and the Optionee dies within one year after such termination
of employment or service), then, unless sooner terminated under the
terms hereof, this option will terminate on the date one year after the
date of such termination of employment or service (or one year after
the later death of the disabled Optionee). For purposes hereof, the
term "disability" means the inability of the
Optionee to perform the customary duties of his employment or other
service for the Company and its subsidiaries by reason of a physical or
mental incapacity which is expected to result in death or be of
indefinite duration; and, the term "cause"
means the Optionee's (a) failure or refusal to perform the
Optionee's duties for the Company or its subsidiaries, (b)
commission of a crime involving moral turpitude, (c) conviction for
commission of a felony, (d) attempt to improperly secure any personal
profit in connection with the business of the Company or its
subsidiaries or (e) dishonesty or willful engagement in conduct which
is injurious to the business or reputation of the Company or its
subsidiaries.

7.    In case of any stock split, stock dividend
or similar transaction which increases or decreases the number of
outstanding shares of Common Stock, appropriate adjustment shall be
made to the number of shares and the exercise price per share which may
thereafter be purchased pursuant to this option. In the case of a
merger, sale of assets or similar transaction which results in a
replacement of the Company's shares of Common Stock with stock of
another corporation, the Board of Directors of the Company (the
"Board") may make arrangements to replace
this option with a comparable option to purchase the stock of such
other corporation. In the absence of such an arrangement, this option
will become exercisable in full and, if not exercised within the time
period specified by the Board, will thereupon terminate.

8.    Nothing in this Agreement shall give the Optionee any right
to continue in the employment or other service of the Company or its
subsidiaries, or interfere in any way with the right of the Company and
its subsidiaries to terminate the employment or other service of the
Optionee.

9.    The provisions of the Plan shall govern if and
to the extent that there are inconsistencies between those provisions
and the provisions hereof. The Optionee acknowledges receipt of a copy
of the Plan prior to the execution of this Agreement.

10.    This Agreement shall be binding upon and shall inure to the
benefit of the parties hereto and their respective successors and
permitted assigns.

11.    This Agreement shall be governed by
and construed in accordance with the internal laws of the State of
Delaware. This Agreement constitutes the entire agreement between the
parties with respect to the subject matter hereof and may not be
modified except by written instrument executed by the parties.

[Remainder of page intentionally left
blank.]

2

IN WITNESS WHEREOF, this Agreement has been
executed as of the date first above written.

		G-III APPAREL GROUP,
LTD.

		By:

	
			
	

	
			
	

		[Name
of Optionee]

3

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