Document:

Exhibit 10.1

Restricted Stock
Unit Agreement

This Restricted
Stock Unit Agreement, dated as of [               ],
2006, between CDRV Investors, Inc., a Delaware corporation, and [                            ]
(the “Employee”), is being entered into
pursuant to the CDRV Investors, Inc. Stock Incentive Plan.

1.     Incorporation of the Plan by Reference.   The terms of
the Plan are hereby incorporated by reference. Capitalized terms that are not
defined herein shall have the same meanings assigned in the Plan. In the event
of any conflict between this Agreement and the Plan, the Plan shall control.

2.     Grant of Restricted Stock Units.   The Company hereby
evidences and confirms an Award to the Employee of [              ]
restricted stock units that are each valued by reference to the value of a
share of Common Stock (the “Restricted Stock Units”).

3.     Vesting.   It is understood and agreed that the Award of
Restricted Stock Units evidenced hereby is subject to the following conditions:

(a)    Normal Vesting of Restricted Stock Units.   The
Restricted Stock Units shall become vested in five equal annual installments on
each of the first through fifth anniversaries of [insert
vesting start date], subject to the continuous employment of the
Employee with the Company until the applicable vesting date

(b)   Accelerated Vesting.   If the Employee’s employment with
the Company is terminated in a Special Termination (i.e., by reason of the
Employee’s death or Disability), any Restricted Stock Units held by the
Employee shall immediately vest as of the effective date of such Special
Termination. All Restricted Stock Units shall also become immediately vested
upon the effective date of a Change in Control.

(c)    Termination of Employment.   Unless otherwise determined
by the Committee, the Employee shall forfeit any unvested Restricted Stock
Units upon termination of employment for any reason other than a Special
Termination.

(d)   Restrictions on Transfer.   The Restricted Stock Units
may not be sold, transferred, pledged, assigned, hedged, encumbered or
otherwise alienated or hypothecated in any manner, and remain subject to
forfeiture as described in this Agreement.

(e)    No Rights as a Stockholder.   The Employee shall have no
rights as a stockholder of the Company (including rights in respect of
dividends declared or paid on the Common Stock) until any Common Stock has been
issued by the Company to the Employee in respect of Restricted Stock Units. No
adjustment shall be made for dividends or other rights for which the record
date is prior to the issuance of any shares of Common Stock in settlement of
the Restricted Stock Units.

4.     Limitation of Benefits.   If as a result of accelerated
vesting of the Restricted Stock Units in connection with a Change in Control or
otherwise, the Employee would receive any payment, deemed payment or other
benefit that, together with any other payment, deemed payment or other benefit
the Employee may receive under any other plan, program, policy or arrangement,
would constitute an “excess parachute payment” under section 280G of the Code,
then, notwithstanding anything in this Agreement to the contrary, the payments,
deemed payments or other benefits the Employee would otherwise receive under
this Agreement shall be reduced to the extent necessary to eliminate any such
excess parachute payment and the Employee shall have no further rights or
claims with respect thereto. If the preceding sentence would result in a
reduction of the payments, deemed payments or other benefits the Employee would
otherwise receive, the Company will use its commercially reasonable best
efforts to seek the approval of the Company’s shareholders in the manner
provided for in section 280G(b)(5) of the Code and the regulations
thereunder with respect to such reduced payments or other benefits (if the
Company is eligible to do so), so that such payments would not be treated as “parachute
payments” for these purposes (and therefore would cease to be subject to
reduction pursuant to this Section 4).

5.     Settlement of Restricted Stock Units.   Subject to the
provisions of Section 12.2 of the Plan (withholding) and Section 4 of
this Agreement, the Company shall deliver to the Employee one share of Common
Stock in settlement of each outstanding Restricted Stock Unit that has become
vested pursuant to Section 3 of this Agreement as soon as practicable, but
not later than 15 (15) business days, following the date of the first to occur
of (i) a Change in Control, (ii) the date of the Employee’s
termination of employment and (iii)                                          
[optional outside date selected by the Employee
in accordance with 409A], provided that
subsection (iii) of this Section 5 shall not apply if a Change in
Control or a Special Termination occurs in 2006. If the settlement date occurs
prior to a Public Offering, the Company and the Employee shall enter into an
Employee Stock Subscription Agreement with respect to the shares of Common
Stock delivered in settlement of the Restricted Stock Units.

6.     Binding Effect; Benefits.   This Agreement shall be
binding upon and inure to the benefit of the Company and the Employee and their
respective successors and permitted assigns. Except for any rights that may be
provided to the Investor in an Employee Stock Subscription Agreement, nothing
in this Agreement, express or implied, is intended or shall be construed to
give any person other than the Company or the Employee or their respective
successors or assigns any legal or equitable right, remedy or claim under or in
respect of any agreement or any provision contained herein.

7.     Amendment.   This
Agreement may not be altered, modified, or amended except by a written instrument
signed by the Company and the Employee.

8.     Sections and Other
Headings.   The section and other headings contained in this
Agreement are for reference purposes only and shall not affect the meaning or
interpretation of this Agreement.

IN WITNESS WHEREOF, this Agreement has been
executed and delivered by the Company on the date hereof.

	
   

  	
   

  	
        CDRV INVESTORS, INC.

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
        THE
  EMPLOYEE:

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  [                                  ]

  

 

 2Exhibit 10.73

 

FIRST AMENDMENT TO THE

GUESS?, INC.

2004 EQUITY
INCENTIVE PLAN

 

WHEREAS, Guess?, Inc. (the “Company”) maintains
the Guess?, Inc. 2004 Equity Incentive Plan
(the “Plan”);

WHEREAS, pursuant to Section 18 of the Plan, the
Compensation Committee of the Board of Directors of the Company may amend the
Plan at any time; and

WHEREAS, the Company wishes to amend the Plan to
provide for grants of stock units to Eligible Individuals;

NOW,
THEREFORE, the Plan is hereby amended, effective May 9, 2006 as follows:

SECTION 2

DEFINITIONS

1.             The definition of “Award” in Section
2 is amended in its entirety to read as follows:

“‘Award’
means an award made pursuant to the terms of the Plan to an Eligible Individual
(as hereinafter defined) in the form of Stock Options, Restricted Stock Awards,
Stock Units, Performance Share Awards, Performance Units, Special
Performance-Based Awards, or Stock Appreciation Rights.”

2.             Section 2 is amended by adding the
following definitions:

“‘Restricted
Stock Unit’ means a Stock Unit subject to such conditions on vesting and
payout as the Committee may determine.

“‘Stock Unit’
means a bookkeeping entry that serves as a unit of measurement relative to a
share of Common Stock for purposes of determining the payment of the Stock Unit
grant.”

SECTION 9A

 

STOCK
UNITS

 

3.             A new Section 9A is added to the
Plan to read as follows:

“9A.        Stock Units.  Awards of Stock Units granted under the Plan
shall be subject to the following terms and conditions and shall contain such
additional terms and conditions, not inconsistent with the Plan, as the
Committee shall deem appropriate:

 

(a)           Terms and Conditions of Stock
Units Generally; Award Agreement.  The
Committee may, in its discretion, (1) authorize and grant to any Eligible
Individual an Award of Stock Units, (2) credit to any Eligible Employee Stock
Units, (3) permit an Eligible Employee to irrevocably elect to defer by means
of Stock Units or receive in Stock Units all or a portion of any Award
hereunder, or (4) grant Stock Units in lieu of, in exchange for, in respect of,
or in addition to any other compensation or Award under this Plan.  The specific terms, conditions, and
provisions relating to each Stock Unit grant or election, including the
applicable vesting and payout provisions of the Stock Units and the form of
payment to be made at or following the vesting thereof, shall be set forth in
or pursuant to the applicable Award Agreement and any relevant Company bonus,
performance or other service or deferred compensation plan, in form substantially
as approved by the Committee, in each case subject to compliance with Section
409A of the Code.

(b)           Payment of Awards.  Subject to compliance with Section 409A of
the Code, the Committee, in the applicable Award Agreement or other award
agreement or the relevant Company deferred compensation plan, may permit the
Eligible Individual to elect the form and time of payout of vested Stock Units
on such conditions or subject to such procedures as the Committee may impose,
and may permit Stock Unit offsets or other provisions for payment of any
applicable taxes that may be due on the crediting, vesting or payment in
respect of the Stock Units.

(c)           Dividend Equivalent Rights.  In its discretion, the Committee may grant to
any Eligible Individual “Dividend Equivalent Rights” concurrently with the
grant of any Award of Stock Units, on such terms as set forth by the Committee
in the applicable Award Agreement. 
Dividend Equivalent Rights shall be based on all or part of the amount
of dividends declared on shares of Common Stock and shall be credited as of
dividend payment dates during the period between the date of grant (or such
later date as the Committee may set) and the date the Award of Stock Units
expires (or such earlier date as the Committee may set), as determined by the
Committee.  Dividend Equivalent Rights
shall be payable in cash or shares of Common Stock, and may be subject to such
conditions, as may be determined by the Committee.

(d)           Cancellation of Restricted Stock
Units.  Unless the Committee otherwise
expressly provides, and subject to Section 14 hereof, Restricted Stock Units
that remain subject to conditions to vesting at the time of termination of
employment or service or are subject to other conditions to vesting that have
not been satisfied by the time specified in the applicable Award Agreement
shall not vest and shall be cancelled, unless the Committee otherwise provides
in or by amendment to the applicable terms of the Award.

2

 

(e)           Rights as Shareholder.  A Participant shall have no rights as a
shareholder with respect to an Award of Stock Units.  Stock Units may, however, by express
provision in the applicable Award Agreement, entitle a Participant to Dividend
Equivalent Rights as provided under Section 9A(c) hereof.”

SECTION
14

 

TERMINATION
OF EMPLOYMENT

 

4.             Subsections 14(a) and 14(b) are
amended in their entirety to read as follows:

“(a)         Disability or Retirement.  Except as may otherwise be provided by the
Committee in its sole discretion at the time of grant or subsequent thereto, if
a Participant’s employment with the Company and its Subsidiaries terminates by
reason of Disability or Retirement, (i) any Stock Option or Stock Appreciation
Right held by the Participant may thereafter be exercised, to the extent it was
exercisable on the date of termination, for a period (the “Exercise Period”)
of one year from the date of such Disability or Retirement or until the
expiration of the stated term of the Stock Option or Stock Appreciation Right,
whichever period is shorter, and to the extent not exercisable on the date of
termination of employment, such Stock Option or Stock Appreciation Right shall
be forfeited; provided, however, that if a
Participant terminates employment by reason of Retirement and such Participant
holds an Incentive Stock Option, the Exercise Period shall not exceed the
shorter of three months from the date of Retirement and the remainder of the
stated term of such Incentive Stock Option; provided further, however,
that if the Participant dies during the Exercise Period, any unexercised Stock
Option or Stock Appreciation Right held by such Participant may thereafter be
exercised to the extent it was exercisable on the date of Disability or
Retirement, by the legal representative of the estate or legatee of the
Participant under the will of the Participant, for a period of one year from
the date of such death or until the expiration of the stated term of such Stock
Option or Stock Appreciation Right, whichever period is shorter (or, in the
case of an Incentive Stock Option, for a period equal to the remainder of the
Exercise Period), (ii) with respect to a Restricted Stock Award, if such
termination is prior to the end of any applicable restriction period, the
number of shares of Common Stock subject to such Award which have not become
vested as of the date of Disability or Retirement shall be forfeited, (iii)
with respect to a Restricted Stock Unit Award, if such termination is prior to
the end of any applicable conditions to vesting, the number of Restricted Stock
Units subject to such Award that have not become vested as of the date of
Disability or Retirement shall be forfeited and (iv) with respect to a
Performance Share Award or a Performance Unit Award, if such termination is
prior to the end of any applicable Performance Period,

3

 

the number of
shares of Common Stock subject to such Award which have not been earned or the
corresponding Award payment, as the case may be, as of the date of Disability
or Retirement shall be forfeited.  In
determining whether to exercise its discretion under the first sentence of this
Section 14(a) with respect to an Incentive Stock Option the Committee may
consider the provisions of Section 422 of the Code.

(b)           Other Terminations.  Unless the Committee determines otherwise in
its sole discretion at the time of grant or subsequent thereto, if a
Participant’s employment with the Company and its Subsidiaries terminates for
any reason other than death, Disability or Retirement, (i) any Stock Option or
Stock Appreciation Right held by the Participant may thereafter be exercised,
to the extent it was exercisable on the date of termination, for a period of
sixty (60) days from the date of such termination of employment or until the
expiration of the stated term of such Stock Option or Stock Appreciation Right,
whichever period is shorter, and to the extent not exercisable on the date of
termination of employment, such Stock Option or Stock Appreciation Right shall
be forfeited, and (ii) with respect to a Restricted Stock Award, if such
termination is prior to the end of any applicable restriction period, the
number of shares of Common Stock subject to such Award which have not become
vested as of the date of termination shall be forfeited, (iii) with respect to
a Restricted Stock Unit Award, if such termination is prior to the end of any
applicable conditions to vesting, the number of Restricted Stock Units subject
to such Award that have not become vested as of the date of termination shall
be forfeited and (iv) with respect to a Performance Share Award or a
Performance Unit Award, if such termination is prior to the end of any
applicable Performance Period, the number of shares of Common Stock subject to
such Award which have not been earned or the corresponding Award payment, as
the case may be, as of the date of termination shall be forfeited.  In determining whether to exercise its
discretion under the first sentence of this Section 14(b) with respect to an
Incentive Stock Option, the Committee may consider the provisions of Section
422 of the Code.”

SECTION
16

RECAPITALIZATION
OR REORGANIZATION

 

6.             Subsection 16(b) is amended by adding the following
sentence to the end thereof:

 

“Notwithstanding the foregoing,
in each case, no adjustment shall be made to any Award that would subject the
holder of such Award to additional tax under Section 409A of the Code with
respect to such Award.”

 

4

 

SECTION 17

 

CHANGE IN CONTROL

 

5.             Section
17 is amended in its entirety to read as follows:

“Change in Control.  Subject to Section 16(c), in the event of a
Change in Control and except as the Committee (as constituted immediately prior
to such Change in Control) may otherwise determine in its sole discretion, (i)
all Stock Options or Stock Appreciation Rights then outstanding shall become
fully exercisable as of the date of the Change in Control, whether or not then
exercisable, (ii) all restrictions and conditions of all Restricted Stock
Awards then outstanding shall lapse as of the date of the Change in Control,
(iii) all restrictions and conditions of all Restricted Stock Units then
outstanding shall lapse and such Restricted Stock Units shall become payable as
of the date of the Change in Control, (iv) each other Award that is granted
under this Plan shall become payable to the holder of such Award as of the date
of the Change in Control, and (v) in the case of a Change in Control involving
a merger of, or consolidation involving, the Company in which the Company is
(A) not the surviving corporation (the “Surviving Entity”) or (B)
becomes a wholly owned subsidiary of the Surviving Entity or any Parent
thereof, each outstanding Stock Option granted under the Plan and not exercised
(a “Predecessor Option”) will be converted into an option (a “Substitute
Option”) to acquire common stock of the Surviving Entity or its Parent,
which Substitute Option will have substantially the same terms and conditions
as the Predecessor Option, with appropriate adjustments as to the number and
kind of shares and exercise prices. 
Notwithstanding the foregoing, an Award shall not be accelerated and/or
become payable pursuant to this Section 17 to the extent that such acceleration
and/or payment shall cause the holder of such Award to be subjected to
additional tax under Section 409A of the Code with respect to such Award.  If the vesting of an Award has been
accelerated expressly in anticipation of an event or upon stockholder approval
of an event and the Committee later determines that the event will not occur,
the Committee may rescind the effect of the acceleration as to any then
outstanding and unexercised or otherwise unvested Awards.”

 

5

 

IN WITNESS WHEREOF, the Company has caused its duly
authorized officer to execute this amendment this 9th day of May, 2006.

 

 

	
   

  	
   

  	
   

  	
  GUESS?, INC.

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
  /s/ Carlos Alberini

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
  Name: Carlos Alberini

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
  Title: President and Chief
  Operating Officer

  	
   

  	
   

  
									

 

 

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