Document:

EX-10.7

 Exhibit 10.7 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 This AMENDED AND RESTATED
EMPLOYMENT AGREEMENT, dated as of May 23, 2013 (this “Agreement”), by and among MICHAEL KORS (USA), INC., a Delaware corporation having its principal executive offices in New York County, New York (the
“Corporation”), MICHAEL KORS HOLDINGS LIMITED, a British Virgin Islands corporation having its registered office in Road Town, Tortola, British Virgin Islands (“MKHL”) and MICHAEL D. KORS, a resident
of New York, New York (“Kors”). 
 IT IS AGREED AS FOLLOWS: 

1. Term. The Corporation agrees to employ Kors, and Kors agrees to serve the Corporation, for a term (the “Term”)
that began on January 29, 2003 and ending as provided herein, upon the terms and conditions set forth herein. 
 2.
Offices and Positions; CEO Consultation. Throughout the Term, Kors shall have the title of Honorary Chairman of the Board and Chief Creative Officer of the Corporation and MKHL shall use its best efforts to cause Kors to be appointed or
elected, as the case may be, to the Boards of Directors of the Corporation (the “Board”) and MKHL. During the Term, MKHL shall consult with Kors regarding the hiring of any Chief Executive Officer (or equivalent executive officer)
of MKHL or the Corporation. 
 3. Duties. 

(a) Throughout the Term, Kors shall devote substantially all of his business time exclusively to the business of the
Corporation and its affiliates to design collections of apparel, accessories and related products as needed by the Corporation and its affiliates and to promote the business and affairs of the Corporation and its affiliates. It is agreed and
understood that, during the Term, Kors will have creative and aesthetic control of the products produced and sold under or bearing the “MICHAEL KORS” trademark and any variation of such name and the initials of such name in whatever form
or style and all related trade names, copyrights, logos and similar rights (the “Marks”), including exclusive control of the design of such products; provided, that this sentence shall not apply to any attempted exercise by
Kors of the foregoing rights that is not commercially reasonable. 
 (b) Throughout the Term, Kors shall not,
without the prior written consent of the Corporation, directly or indirectly, render services to or for any other person or firm whether or not for compensation or engage in any activity that, in either case, is in competition with the business of
MKHL, the Corporation or any other subsidiary of MKHL (MKHL and its subsidiaries collectively, the “MK Group”); provided, however, that Kors may participate in charitable activities not inconsistent with the intent of
this Agreement. The making of passive personal investments shall not be prohibited hereunder. For the avoidance of doubt, the parties agree that, subject to Section 3(a), Kors may render services with respect to the television show
“Project Runway” and that such services are not in competition with the business of MKHL, the Corporation or any other subsidiary of MKHL for the purposes of this paragraph. In 

 
addition, subject to Section 3(a), Kors may participate in literary, theatrical or artistic activities, but only if and to the extent that the Corporation shall have determined in advance
(in its reasonable discretion) that such activities would not be detrimental to the Marks. 
 4. Compensation.

 (a) Throughout the Term, the Corporation shall pay to Kors a salary (the “Base Salary”) at
the rate of $2,500,000 per annum, payable in periodic installments in accordance with the Corporation’s customary payroll practices. Effective with the Corporation’s fiscal year which ends on April 2, 2011, and for each complete
fiscal year during the Term (or, on a prorated basis for any period representing less than a full fiscal year), Kors, as additional compensation hereunder, shall be entitled to receive a bonus equal to 2.5% of MKHL’s consolidated earnings
before interest, taxes, depreciation and amortization (“EBITDA”) for such fiscal year of the Term, up to a maximum bonus of $5,000,000 for any fiscal year (the “Bonus Payment”). Such Bonus Payment shall be payable
in a single lump sum cash payment within thirty (30) days of the determination of EBITDA, and shall be paid at such time that the Corporation generally makes bonus payments to its executives; provided, however, that in any event such Bonus
Payment shall be paid during the calendar year in which the applicable fiscal year has ended. EBITDA for any fiscal year shall be determined, and certified, by the accounting firm that regularly performs the audit functions for MKHL, whose
determination shall be final and binding on the parties. Such determination shall be made in accordance with applicable generally accepted accounting principles. 

(b) In addition to what is required pursuant to Section 5, the Corporation may pay, but shall have no obligation to
pay, to Kors such additional compensation in the form of bonuses, fringe benefits or otherwise in such amounts and at such times as the Compensation Committee of the Board of MKHL (the “Compensation Committee”) shall from time to
time determine in its sole and absolute discretion. 
 (c) In the event that following the IPO, the compensation
payable to you hereunder becomes (or is reasonably likely to become) subject to the deduction limitations of Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”), taking into account the application of
any applicable transition period under Section 162(m) of the Code and the regulations promulgated thereunder, the parties agree to negotiate in good faith to implement as promptly as possible such revisions to the structure (including the
timing, form and type) of such compensation so as to achieve to the greatest extent possible full tax deductibility of such compensation under Section 162(m) of the Code; provided, however, that in no event shall any such
revisions result in a reduction in the aggregate amount of compensation otherwise contemplated to be payable to Kors hereunder or otherwise cause Kors to incur any tax, penalty or interest charge under Section 409A of the Code. 

  
 2 

 5. Benefits. 

(a) In addition to the compensation described in Section 4, during the Term, Kors shall be entitled to the
following: 
 (i) Kors shall be entitled to participate in all Corporation employee benefit plans (to the extent
Kors is eligible therefor), including, without limitation, any health and retirement plans (but, except as otherwise provided in this Agreement or as determined by the Compensation Committee of the Board, excluding bonus and equity-based plans), in
each case subject to any applicable laws which shall be in effect from time to time and on the same basis as is available to the other senior officers of the Corporation. If any such benefit plan shall be unavailable to Kors by reason of his
nationality or residence, the Corporation shall use it best efforts to provide a substantially equivalent benefit, through another source, at its expense. 
 (ii) The Corporation shall provide the health and medical insurance coverage referred to in Section 5(a)(i) above at its own cost without contribution from Kors. The Corporation also shall pay during
the Term the premiums on (A) the whole life insurance policy (the “Whole Life Policy”) currently in place on the life of Kors and (B) the $500,000 term life insurance policy (the “Term Life Policy”)
currently in place on the life of Kors, both of which policies are owned by Kors. Upon termination of this Agreement, the Corporation shall cease to pay premiums on the Whole Life Policy and the Term Life Policy and Kors shall thereafter be solely
responsible for the payment of any premiums on both such policies. 
 (iii) Reimbursement of reasonable
out-of-pocket professional costs incurred for the preparation of any of his tax returns to be filed in the United States. 
 (iv) Membership in a health club, at the request of Kors. 
 (v)
The Corporation shall provide Kors with an automobile and driver for transportation to and from the Corporation’s offices and for other business purposes. Such automobile shall be a Mercedes-Benz S-Class or an automobile at least substantially
equivalent in price thereto. 
 (b) In addition to the foregoing, Kors acknowledges and agrees that the
Corporation may apply for, and purchase, key-man life insurance covering Kors (the “Key-Man Insurance”). The Corporation shall own all rights in any such Key-Man Insurance policies and the proceeds thereof, and Kors shall not have
any right, title or interest therein. Kors agrees to assist the Corporation, at the Corporation’s expense, in obtaining such Key-Man Insurance by, among other things, submitting to the customary examinations and correctly preparing, signing and
delivering such applications and other documents as may be required by potential insurers. 

  
 3 

 (c) Anything to the contrary herein notwithstanding, in the event of the
occurrence of a condition that may with the passage of time constitute a Permanent Disability (as defined below) of Kors, then the Corporation shall continue to pay to Kors his Base Salary and all other compensation and benefits owed to Kors
hereunder until the termination of this Agreement as provided in Section 10 below, less any payments received by Kors from any disability insurance policy whose premiums are paid by the Corporation. For purposes of this Agreement, the term
“Permanent Disability” shall mean any mental or physical condition that: (i) prevents Kors from reasonably discharging his services and employment duties hereunder; (ii) is attested to in writing by a physician who is
licensed to practice in the State of New York and is mutually acceptable to Kors and the Corporation (or, if Kors and the Corporation are unable to mutually agree on a physician, the Board may select a physician who is a chairman of a department of
medicine at a university-affiliated hospital in the City of New York); and (iii) continues, for any one or related condition, during any period of six (6) consecutive months or for a period aggregating six (6) months in any
twelve-month period; and such Permanent Disability shall be deemed to have occurred on the last day of such applicable six-month period. 
 6. Vacation; Meetings. 
 Kors shall be entitled to five weeks of vacation
annually, and such additional vacation time as may be agreed to by any Chairman of the Board of the Corporation. Kors shall be entitled to additional time off for attendance at meetings, conventions and educational courses, as any Chairman or of the
Board of the Corporation may from time to time allow. 
 7. Expenses; Indemnification. 

(a) The Corporation shall reimburse Kors for the reasonable business expenses (including travel at the highest class of
service available) incurred by Kors in the course of performing his duties for the Corporation, subject to Kors’ compliance with the policies and procedures for reimbursement generally in effect from time to time for senior officers of the
Corporation. 
 (b) The Corporation and/or MKHL (as applicable) will indemnify Kors and hold him harmless to the
maximum extent permitted by applicable law, against all costs, charges, liabilities and expenses incurred or sustained by him in connection with any action, suit, claim or proceeding to which he may be made a party by reason of his being an officer,
director or employee of the Corporation or of any affiliate of the Corporation; provided, however, that in no event shall Kors be indemnified for acts taken by him in bad faith or in breach of his duty of loyalty to the Corporation or
MKHL under applicable law. Notwithstanding the foregoing, Kors’ indemnification and hold harmless rights under this Section 7 shall in no event be less favorable in any respect than the terms of any indemnification and hold harmless rights
provided by the Corporation and/or MKHL to any senior officer of the Corporation under an employment agreement, indemnification agreement or otherwise. The provisions of this subsection (b) shall survive the termination of this Agreement.

  
 4 

 8. Confidentiality; Intellectual Property Rights. 

(a) Kors acknowledges that his work for and with the Corporation and its affiliates will bring him into close contact
with the confidential affairs of the Corporation and its affiliates, including, without limitation, confidential information and trade secrets concerning the Corporation’s and its affiliates’ working methods, processes, business and other
plans, programs, designs, products, profit formulas, customer names, customer requirements and supplier names (collectively, “Confidential Information”). “Confidential Information” shall not include (i) information
generally known to the public, (ii) information properly received by Kors outside his engagement with the Corporation (or any predecessor or affiliate of the Corporation) from any third party not affiliated with the Corporation (or any
affiliate of the Corporation) and not under any duty to the Corporation not to disclose such information, and (iii) any materials, including designs and products created by Kors and which are otherwise “Confidential Information”, to
the extent approved in writing by the Corporation, which approval shall not be unreasonably withheld. Kors acknowledges that such Confidential Information is reposed in him in trust and he shall, both during and for a period of three years after the
Term (or such longer period as the Corporation may be bound to keep any such Confidential Information confidential pursuant to any agreement or otherwise), maintain such Confidential Information in confidence and, except as may be required under
applicable law, neither disclose to others nor use such Confidential Information personally without written permission of the Corporation. Kors agrees, upon termination of this Agreement, to return to the Corporation all documents or recorded
material of any type (including all copies thereof) which may be in his possession or under his control dealing with the Confidential Information. 
 (b) All trademarks, designs, copyrights and other intellectual property created by or at the direction of Kors in the course of his employment by the Corporation shall remain the property of, and be
exclusively owned by, the Corporation without further act of either party. Kors shall, at the reasonable request of the Corporation, execute such documents as may be reasonably necessary to confirm or evidence the Corporation’s ownership of
such property. 
 (c) The obligations of this Section 8 shall survive the termination of this Agreement.
Notwithstanding anything to the contrary set forth herein or in any other agreement to which Kors, on the one hand, and the Corporation or any of its affiliates, on the other hand, are parties or by which they are bound, the obligations of
confidentiality contained herein and therein, as they relate to the transactions contemplated by this Agreement, shall not apply to the “structure or the tax aspects” (as that phrase is used in Section 1.6011-4T(a)(3) (or any
successor provision) of the Treasury Regulations promulgated under Section 6011 of the Code) of such transactions. 
 9.
Notices. 
 Any notice or request permitted or required hereunder shall be in writing deemed sufficient when delivered in
person or mailed by certified mail, postage prepaid, or transmitted by facsimile, and addressed if to the Corporation or MKHL, c/o the Corporation at the 

  
 5 

 
Corporation’s principal executive offices in New York, New York, Facsimile No.: (646) 354-4826, Attn: Chief Executive Officer, and if to Kors, to his home address on file with the
Company, with copy to: 
 Patterson Belknap, Webb & Tyler LLP 

1133 Avenue of the Americas 
 New York, New York 10036-6710 
 Attention: Peter J. Schaeffer, Esq.

 Facsimile No.: (212) 336-2222 
 or to such other address as may be provided by such notice. 
 10. No
Termination. 
 (a) The Corporation may not terminate the Agreement and Kors’ employment hereunder for
any reason other than Cause (as defined below). It is expressly understood that Kors is to be employed hereunder until he dies or becomes Permanently Disabled (in which case this Agreement shall immediately terminate and the Corporation shall only
be liable to promptly pay to Kors or his estate (as applicable) the Accrued Obligations and Pro Rata Bonus Payment (each as defined below)); provided, however, that Kors has not been terminated for Cause as aforesaid. In the event that
the Corporation materially breaches its obligations hereunder, including, without limitation, the Corporation’s obligations to make payments pursuant to Section 4 hereof then upon thirty (30) days notice to the Corporation (which
notice shall describe the Corporation’s breach in reasonable detail), unless the Corporation (i) cures such breach within such thirty (30)-day period (or, if the breach cannot reasonably be cured within such thirty (30)-day period,
initiates all possible action that substantially cures the breach within such thirty (30)-day period) to Kors’ reasonable satisfaction (which curative action, at a minimum, places Kors in a no less favorable economic and financial position than
he would have been in had the breach not occurred) and (ii) provides evidence satisfactory to Kors that the Corporation has done so, Kors may terminate his employment under this Agreement and in such event shall be relieved of all his further
obligations hereunder and entitled to exercise any rights and remedies he may have at law or in equity with respect to such material breach. In the event of such termination due to breach by the Corporation, the Corporation shall, in addition and
not in limitation to any other rights and remedies Kors may have hereunder, at law or in equity, (A) promptly pay Kors any Base Salary earned but not yet paid prior to the date of termination, and reimburse Kors for any expenses pursuant to
Section 7(a) (collectively, the “Accrued Obligations”) and (B) at the time the Bonus Payment would otherwise be payable under Section 4(a) with respect to the fiscal year of the Corporation in which such termination
occurs, pay Kors the pro rated Bonus Payment specified in Section 4(a) that would otherwise have been payable to Kors in respect of such fiscal year (the “Pro Rata Bonus Payment”). 

“Cause” shall mean: (i) the material breach by Kors of any material provision contained in this
Agreement (including, without limitation, the provisions set forth in Section 3 hereof), which breach continues without the cure thereof by Kors for a period of thirty (30) days following written notice thereof from the Corporation to Kors
(which 

  
 6 

 
notice shall describe Kors’ breach in reasonable detail); (ii) the conviction of Kors for fraudulent or criminal conduct adversely affecting the Corporation; (iii) the commission
by Kors of any willful, reckless, or grossly negligent act which has a material adverse effect on the Corporation or its products, trademarks or goodwill (including, without limitation, the reputation thereof). 

(b) If Kors shall terminate his employment under this Agreement without the consent of the Corporation other than by
reason of Kors’ death, Permanent Disability or pursuant to the third sentence of Section 10(a) of this Agreement, the obligations of the Corporation, other than for the Accrued Obligations, shall cease and, subject to Section 11, the
parties hereto shall be relieved of all further obligations hereunder. 
 (c) If Kors’ employment is
terminated by the Corporation for Cause, (i) MKHL shall have the option to purchase all of the ordinary shares and/or other equity interests of MKHL held directly or indirectly by Kors for their book value as of the last day of the calendar
month immediately preceding such termination, as determined by MKHL’s independent auditors in accordance with U.S. generally accepted accounting principles, consistently applied, and (ii) other than for the Accrued Obligations, the
Corporation shall be relieved of all further obligations hereunder. If the Corporation makes the election to purchase all the ordinary shares and/or other equity interests pursuant to this Section 10(c), it shall provide a written notice to
Kors of such election within thirty (30) days of such termination, the closing for such purchase shall occur as promptly as practicable but in no event more than thirty (30) days following such notice and the purchase price shall be paid
in cash in a single lump sum at such closing. 
 11. Kors Non-Competition. If Kors shall have terminated this Agreement
pursuant to Section 10(b), for the remainder of Kors’ lifetime, (i) Kors agrees to serve as an independent and exclusive design consultant to the Corporation for a fee of $1,000,000 per year, payable monthly in arrears in equal
installments with such duties as shall be mutually agreed in good faith at such time, and (ii) in consideration thereof, Kors shall not, without the written consent of the Board, engage anywhere in the world where the Corporation or any other
member of the MK Group is doing business, directly or indirectly, as a designer, consultant, officer, director, employee, agent, proprietor, partner or shareholder in any business (other than on behalf of the Corporation or any other member of the
MK Group) which engages in activities in competition with the Corporation or any other member of the MK Group to the extent those activities were carried on by the Corporation or any other member of the MK Group during the Term; provided, however,
that the Corporation may terminate such consulting arrangement and cease making such payments at any time, in which event Kors’ obligations to serve as a consultant to the Corporation and to comply with such non-competition restrictions shall
immediately terminate. Notwithstanding the foregoing, at any time, Kors may own up to 5% of the common stock or other securities of any public corporation and may have an interest as a limited partner in any partnership provided he provides no
services or advice of any kind to any such corporation or partnership. 

  
 7 

 12. Other Lines of Business; Transfer or Encumbrance of Marks. The Corporation and
its subsidiaries shall not enter into any new line of business without the consent of Kors if Kors shall reasonably determine that such line of business is detrimental to the Marks. 

13. Miscellaneous. This Agreement (i) constitutes the entire agreement between the parties concerning the subjects hereof and
supersedes all prior agreements, (ii) may not be assigned by Kors without the prior written consent of the Corporation, but shall be binding upon and inure to the benefit of Kors’ heirs, legal representatives and permitted assigns (without
limiting the generality of the foregoing, the provisions of Sections 4 and 7 hereof specifically shall inure to the benefit of such heirs, legal representatives, successors and permitted assigns), (iii) may be assigned by the Corporation
in connection with any transfer of all or a substantial portion of the Corporation’s assets and shall be binding upon, and inure to the benefit of, the Corporation’s successors and assigns, and (iv) may not be amended, modified or
supplemented except by a writing signed by each party. 
 14. Arbitration. All disputes arising under this Agreement
including but not limited to any claim for specific performance under Section 15 of this Agreement shall be submitted to binding arbitration in accordance with the rules of commercial arbitration of the American Arbitration Association of the
City of New York. Any arbitration proceeding shall be conducted in New York, New York before a single arbitrator or, if requested by either party, by a panel of three arbitrators. 

15. Specific Enforcement. In addition to any remedies available to the parties at law, the parties each acknowledge that they
would be irreparably damaged and there would be no adequate remedy at law for breach of either’s obligations hereunder and, accordingly, this Agreement is to be specifically enforced if not performed according to its terms. 

16. Severability. The provisions of this Agreement are severable. The invalidity of any provision shall not affect the validity of
any other provision. 
 17. Governing Law. This Agreement shall be construed and governed in all respects under the laws
of the State of New York (without reference to such State’s conflict of law rules). 
 18. Headings. Headings in
this Agreement are for convenience of reference only and shall not define, limit or interpret the contents hereof. 
 19.
Code Section 409A. 
 (a) It is the intention of the parties hereto that, to the extent any amounts
or benefits payable under or otherwise with respect to this Agreement constitute nonqualified deferred compensation that is or may be subject to Section 409A of the Code and the treasury regulations or other official pronouncements thereunder
(herein, collectively, “Section 409A”), the provisions of this Agreement shall be interpreted and administered in a manner (which may, as appropriate, include amendments to this Agreement) that will enable such amounts or benefits
to satisfy the requirements of Section 409A (either pursuant to qualifying for an exemption from coverage under Section 409A or satisfying the substantive provisions for compliance with such section). 

  
 8 

 (b) For purposes of any reimbursement of expenses due to Kors or the
provision of in-kind benefits with respect to Kors (including, without limitation, pursuant to Section 7 above), such reimbursements shall be made in a manner consistent with Code Section 409A, including Treasury Regulation
Section 1.409A-3(i)(1)(iv). In that regard (i) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during a calendar year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be
provided, in any other taxable year, (ii) the reimbursement of eligible expenses shall be made on or before the end of the calendar year following the calendar year in which the expense was incurred, and (iii) the right to reimbursement or
in-kind benefits shall not be subject to liquidation or exchange for another benefit. 
 (c) In the event that
any amount or benefit payable under or otherwise with respect to this Agreement is conditioned on Kors’ termination of employment and such amount or benefit is not otherwise exempt from Section 409A, such termination of employment shall
mean a “separation from service” within the meaning of Section 409A. In addition, if any such payment is conditioned on a separation from service by Kors and Kors shall then be a “specified employee” (as defined in Treasury
Regulation section 1.409A-1(i)), then, to the extent necessary to avoid a violation of Section 409A, the portion of any such payment that would otherwise be paid within the six-month period immediately following Kors’ separation from
service shall instead be deferred and paid in a single sum on the first day following the end of such six-month period. 

  
 9 

 IN WITNESS WHEREOF, this Agreement is entered into as of the day and year first above
written. 
  

			
	MICHAEL KORS (USA), INC.
		
	By:	 	/s/ John D. Idol
		 	 Name: John D. Idol
 Title:
  Chairman and Chief Executive Officer

	
	MICHAEL KORS HOLDINGS LIMITED
		
	By:	 	/s/ John D. Idol
		 	 Name: John D. Idol
 Title:
  Chairman and Chief Executive Officer

		
		 	/s/ Michael D. Kors
		 	Michael D. Kors

  
 10EX-10.8

 Exhibit 10.8 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 This AMENDED AND RESTATED
EMPLOYMENT AGREEMENT (this “Agreement”), dated as of May 23, 2013, by and among MICHAEL KORS (USA), INC., a Delaware corporation having its principal executive offices in New York County, New York (the
“Company”), MICHAEL KORS HOLDINGS LIMITED, a British Virgin Islands corporation having its registered office Road Town, Tortola, British Virgin Islands (“MKHL”) and JOHN D. IDOL
(“Executive”). 
 WHEREAS, the Company desires to employ Executive, and Executive desires to be employed by the
Company, in accordance with the terms and provisions herein contained; 
 NOW, THEREFORE, in consideration of the mutual
covenants and agreements herein contained, the parties hereto hereby agree as follows: 
 1. Employment. 

(a) The Company hereby employs Executive, and Executive hereby accepts such employment, on the terms and subject to the conditions
contained herein. 
 (b) Executive shall serve as the Chief Executive Officer of the Company and MKHL faithfully and to the best
of his ability. Initially, all of Executive’s business time will be dedicated to serving as Chief Executive Officer of the Company. Subject to any existing contractual obligations of MKHL and its subsidiaries, Executive shall have general
authority over the business of the Company and shall manage the day-to-day operations of the Company; provided, however, that Executive understands and agrees that (i) the Board of Directors of MKHL (the “Board”) will be
responsible for setting overall strategic goals of MKHL and its subsidiaries (including, without limitation, the Company) and advising Executive with respect thereto, and (ii) the Board’s and/or certain of its members’ active
strategic involvement in matters relating to design direction, marketing concepts, production logistics and financial objectives shall not be deemed to constitute managing day-to-day operations. Executive will report only to the Board, and, subject
to any existing contractual obligations of MKHL and its subsidiaries, all other executives of the Company shall report to Executive, unless Executive determines otherwise. Executive acknowledges and agrees that, except as otherwise provided in
accordance with Section 1(c), the Company will be his sole employer under this Agreement and the Company will provide all payments and benefits to Executive under this Agreement. 

(c) At the request of MKHL, Executive further agrees, without additional compensation, to act as an officer and/or director of
subsidiaries of MKHL, other than the Company. At the direction of MKHL, any rights and obligations of the Company hereunder may be assigned, in whole or in part, to such subsidiaries; provided that the Company’s obligations with respect to
compensation and benefits, including, without limitation, Base Salary (as defined below), shall remain the Company’s obligations, unless Executive consents in writing to such assignment, which such consent shall not be unreasonably withheld.

 (d) During Executive’s employment hereunder, MKHL shall use its best efforts to cause
Executive to be elected or appointed, as the case may be, to a position on the Board and the Company’s Board of Directors (the “Company Board”). Executive agrees that upon termination of his employment hereunder for any reason,
he shall resign immediately from both the Board and the Company Board, as well as from any officerships and/or other directorships with MKHL or any of its subsidiaries. 
 (e) Executive shall devote substantially his full business time and attention and his best efforts to the performance of his duties hereunder; provided, however, that Executive may engage in charitable,
educational, civic and religious activities and may participate as an investor, officer or director with respect to passive investments owned by or for the benefit of Executive or members of his immediate family, but only to the extent such
activities and service do not result in a conflict of interest with the Company or interfere with the performance of Executive’s duties and responsibilities hereunder. 
 2. Term. The term of the employment of Executive with the Company commenced on December 2, 2003 and shall continue under this Agreement through March 31, 2015 (the “Initial
Term”), subject to the terms and provisions of this Agreement. After the expiration of the Initial Term, this Agreement shall be automatically renewed for additional one-year terms (each, a “Renewal Term”) unless either the
Company or Executive gives written notice to the other of the termination of this Agreement at least ninety (90) days in advance of the next successive one-year term. Any election by the Company or Executive not to renew such employment at the
end of the Initial Term or any Renewal Term shall be at the sole, absolute discretion of the Company or Executive, respectively. The period Executive is employed hereunder during the Initial Term and any such Renewal Terms is referred to herein as
the “Term”. 
 3. Salary. Executive’s base salary (“Base Salary”) shall be at the
rate of $2,500,000 per year, which shall be payable in accordance with the Company’s customary payroll practices in effect from time to time. The Base Salary shall be subject to possible increases at the sole discretion of the Board; provided,
however, that in no event shall Executive’s Base Salary during the Term be less than at the rate of $2,500,000 per year. 

4. Annual Bonus. For each complete fiscal year during the Term (or, on a prorated basis for any period representing less than a
full fiscal year), Executive, as additional compensation hereunder, shall be entitled to receive a bonus equal to 2.5% of MKHL’s consolidated earnings before interest, taxes, depreciation and amortization (“EBITDA”) for such
fiscal year of the Term, up to a maximum of $5,000,000 for any fiscal year (the “Annual Bonus”). Such Annual Bonus shall be payable in a single lump sum cash payment within thirty (30) days of the determination of EBITDA.
EBITDA for any fiscal year shall be determined, and certified, by the accounting firm that regularly performs the audit functions for MKHL, whose determination shall be final and binding on the parties. Such determination shall be made in
accordance with U.S. generally accepted accounting principles, consistently applied, as in effect on the date of this Agreement. 
 5. IPO. In the event that following MKHL’s initial public offering, the compensation payable to Executive hereunder becomes (or is reasonably likely to become) subject

  
 2 

 
to the deduction limitations of Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”), taking into account the application of any applicable
transition period under Section 162(m) of the Code and the regulations promulgated thereunder, the parties agree to negotiate in good faith to implement as promptly as possible such revisions to the structure (including the timing, form and
type) of such compensation so as to achieve to the greatest extent possible full tax deductibility of such compensation under Section 162(m) of the Code; provided, however, that in no event shall any such revisions result in a
reduction in the aggregate amount of compensation otherwise contemplated to be payable to Executive hereunder. 
 6. Employee
Benefits. 
 (a) Generally. During the Term, Executive shall be entitled to participate in any and all Company
employee benefit plans and programs (but, except as otherwise provided in this Agreement or as determined by the Compensation Committee of the Board, excluding bonus and equity-based plans), which generally are made available to senior officers of
the Company, in accordance with, and subject to, the terms and conditions of such plans and programs (including, without limitation, any eligibility limitations) as they may be modified by the Company from time to time in its sole discretion.

 (b) Life Insurance. During the Term, the Company shall pay the premiums, up to a maximum of $50,000 per annum, for the
$5,000,000 whole life insurance policy presently maintained by Executive. Upon termination of this Agreement, Executive will reimburse to the Company the amount of any such annual premium paid by it attributable to any period after the end of the
Term. 
 (c) Vacation. During the Term, Executive shall be entitled to five (5) weeks of paid vacation in each
fiscal year of the Company. Executive shall forfeit any vacation time that remains unused at the end of any fiscal year. 
 (d)
Transportation. During the Term, the Company shall provide Executive with an automobile and driver for transportation to and from the Company’s offices and for other business purposes. Such automobile shall be a Mercedes-Benz S-Class or
an automobile at least substantially equivalent in price thereto. 
 (e) Expense Reimbursement. During the Term, the
Company shall reimburse Executive for all reasonable and necessary expenses (including first class air travel and the use of a private jet leased by the Company or one of its affiliates for select trips, as appropriate) incurred by Executive
incident to the performance of his duties hereunder, in accordance with the Company’s policies and procedures. 
 7.
Termination of Employment. 
 (a) Death and Total Disability. Executive’s employment under this Agreement
shall terminate immediately upon his death or Total Disability (as defined below). For purposes of this Agreement, the term “Total Disability” shall mean any mental or physical condition that: (i) prevents Executive from
reasonably discharging his services and employment duties hereunder; (ii) is attested to in writing by a physician who is licensed to practice in the State of New York and is mutually acceptable to Executive and the Company (or, if the

  
 3 

 
Executive and the Company are unable to mutually agree on a physician, the Company Board may select a physician who is a chairman of a department of medicine at a university-affiliated hospital
in the City of New York); and (iii) continues, for any one or related condition, during any period of six (6) consecutive months or for a period aggregating six (6) months in any twelve-month period. Total Disability shall be deemed
to have occurred on the last day of such applicable six-month period. 
 (b) Cause. The Company shall at all times, upon
written notice to Executive given at least ten (10) days prior to the Termination Date, have the right to terminate this Agreement and the employment of Executive hereunder for Cause (as defined below); provided, however, that prior to such
termination taking effect, Executive shall have been given an opportunity to meet with the Board, and a majority of the Board shall have thereafter voted to terminate Executive’s employment. 

For purposes of this Agreement, the term “Cause” means the occurrence of any one of the following events:
(i) Executive’s gross negligence, willful misconduct or dishonesty in performing his duties hereunder; (ii) Executive’s conviction of a felony (other than a felony involving a traffic violation); (iii) Executive’s
commission of a felony involving a fraud or other business crime against MKHL or any of its subsidiaries; or (iv) Executive’s breach of any of the covenants set forth in Section 9 hereof; provided that, if such breach is curable,
Executive shall have an opportunity to correct such breach within thirty (30) days after written notice by the Company to Executive thereof. 
 (c) Change of Control. Unless otherwise agreed by the Company and Executive, this Agreement shall automatically terminate upon a Change of Control. For purposes of this Agreement, a “Change
of Control” shall be deemed to have occurred when any person, entity or group of affiliated persons or entities purchase or otherwise acquire (i) more than 50% of the combined voting power of the outstanding stock of MKHL or
(ii) all or substantially all of MKHL’s assets. 
 (d) Executive Termination Without Good Reason. Executive
agrees that he shall not terminate his employment for any reason other than Good Reason without giving the Company at least six months’ prior written notice of the effective date of such termination. Executive acknowledges that the Company
retains the right to waive the notice requirement, in whole or in part, and accelerate the effective date of Executive’s termination. If the Company elects to waive the notice requirement, in whole or in part, the Company shall have no further
obligations to Executive under this Agreement other than to make the payments specified in Section 8(a). After Executive provides a notice of termination, the Company may, but shall not be obligated to, provide Executive with work to do and the
Company may, in its discretion, in respect of all or part of an unexpired notice period, (i) require Executive to comply with such conditions as it may specify in relation to attending at, or remaining away from, the Company’s places of
business, or (ii) withdraw any powers vested in, or duties assigned to, Executive. For purposes of a notice of termination given pursuant to this Section 7(d), the Termination Date (as defined below) shall be the last day of the six month
notice period, unless the Company elects to waive the notice requirement as set forth herein. 

  
 4 

 For purposes of this Agreement, “Good Reason” means and shall be deemed to
exist if: (i) Executive is assigned duties or responsibilities that are inconsistent in any material respect with the scope of the duties or responsibilities of his title or position, as set forth in this Agreement; (ii) the Company or
MKHL fails to perform substantially any material term of this Agreement, and, if such failure is curable, fails to correct such failure within thirty (30) days after written notice by Executive to the Company or MKHL, as applicable;
(iii) Executive’s office is relocated more than fifty (50) miles from its location immediately prior to such relocation; (iv) the Company or MKHL fails to have this Agreement assumed by a successor; (v) Executive’s
duties or responsibilities are significantly reduced, except with respect to any corporate action initiated or recommended by Executive and approved by the Board; (vi) Executive is involuntarily removed from the Boards of the Company and MKHL
(other than in connection with a termination of employment for Cause, voluntary termination without Good Reason, death or Total Disability); or (vii) subject to the proviso set forth in the third sentence of Section 1(b) above, the Board
is managing the day-to-day operations of the Company and, after receipt of written notice from Executive to such effect (and sufficient time to cease such involvement), the Board continues to do so. 

(e) Executive Termination for Good Reason. Executive may terminate his employment hereunder for Good Reason (and this Agreement
shall accordingly terminate) by providing written notice of his intention to terminate, and specifying the circumstances relating thereto, to the Board within thirty (30) days following the occurrence of any of the events specified above as
constituting Good Reason and at least ten (10) days prior to the Termination Date. 
 8. Consequences of Termination or
Breach. 
 (a) Termination Due to Death or Total Disability, for Cause, Upon Change of Control or Without Good
Reason. If Executive’s employment under this Agreement is terminated under Sections 7(a), 7(b), 7(c) or 7(d) hereunder, or Executive terminates his employment for any reason other than Good Reason, Executive shall not thereafter be entitled
to receive any compensation and benefits under this Agreement other than for (i) Base Salary earned but not yet paid prior to the Termination Date, and (ii) reimbursement of any expenses pursuant to Section 6(e) incurred prior to the
Termination Date (collectively, the “Accrued Obligations”). 
 (b) Termination Without Cause or With Good
Reason. If Executive’s employment under this Agreement is terminated by the Company without Cause (which right the Company shall have at any time during the Term) and other than for the reasons provided for in Sections 7(a) or 7(c) above,
or Executive terminates his employment for Good Reason, the sole obligations of the Company to Executive shall be (i) to make the payments described in Section 8(a) for Accrued Obligations, and (ii) to pay to Executive in a single
lump sum payment, within thirty (30) days from the Termination Date, a separation allowance equal to two times (A) Executive’s then current Base Salary and (B) the Annual Bonus paid or payable to Executive pursuant to
Section 4 with respect to the Company’s last full fiscal year ended prior to the Termination Date. Executive acknowledges and agrees that in the event the Company terminates Executive’s employment without Cause and other than for the
reasons provided for in Sections 7(a) or 7(c) or Executive terminates his employment for Good Reason, Executive’s sole remedy shall be to receive the payments specified in this Section 8(b). 

  
 5 

 (c) No Duty to Mitigate. Executive shall not be required to mitigate the amount of
any damages that Executive may incur or other payments to be made to Executive hereunder as a result of any termination or expiration of this Agreement, nor shall any payments to Executive be reduced by any other payments Executive may receive,
except as set forth herein. 
 9. Restrictive Covenants and Confidentiality. 

(a) No-Hire. During the two year period following the date of Executive’s termination of employment hereunder for any reason
(the “Termination Date”), Executive shall not employ or retain (or participate in or arrange for the employment or retention of) any person who was employed or retained by the Company or any of its parents, subsidiaries or
affiliates within the one-year period immediately preceding such employment or retention. 
 (b) Confidentiality.
Recognizing that the knowledge, information and relationship with customers, suppliers and agents, and the knowledge of the Company’s and its parents’, subsidiaries’ and affiliates’ business methods, systems, plans and policies,
which Executive shall hereafter establish, receive or obtain as an employee of the Company or any such parent, subsidiary or affiliate, are valuable and unique assets of the businesses of the Company and its parents, subsidiaries and affiliates,
Executive agrees that, during and after the Term hereunder, he shall not (otherwise than pursuant to his duties hereunder) disclose, without the prior written approval of the Board, any such knowledge or information pertaining to the Company or any
of its parents, subsidiaries and affiliates, their business, personnel or policies, to any person, firm, corporation or other entity, for any reason or purpose whatsoever. The provisions of this Section 9(b) shall not apply to information which
is or shall become generally known to the public or the trade (except by reason of Executive’s breach of his obligations hereunder), information which is or shall become available in trade or other publications and information which Executive
is required to disclose by law or an order of a court of competent jurisdiction. If Executive is required by law or a court order to disclose such information, he shall notify the Company of such requirement and provide the Company an opportunity
(if the Company so elects) to contest such law or court order. Executive agrees that all tangible materials containing confidential information, whether created by Executive or others which shall come into Executive’s custody or possession
during Executive’s employment shall be and is the exclusive property of the Company or its parents, subsidiaries and affiliates. Upon termination of Executive’s employment for any reason whatsoever, Executive shall immediately surrender to
the Company all confidential information and property of the Company or its parents, subsidiaries or affiliates in Executive’s possession. 
 (c) Non-Compete. Executive agrees that during the Term, Executive will not engage in, or carry on, directly or indirectly, either for himself or as an officer or director of a corporation or as an
employee, agent, associate, or consultant of any person, partnership, business or corporation, any business in competition with the business carried on by the Company and its parents, subsidiaries and affiliates in any market in which the Company or
its parents, subsidiaries and affiliates actively conduct business. 

  
 6 

 10. Injunction. It is recognized and hereby acknowledged by the parties hereto that a
breach or violation by Executive of any of the covenants or agreements contained in Section 9 of this Agreement may cause irreparable harm and damage to the Company or its parents, subsidiaries or affiliates, the monetary amount of which may be
virtually impossible to ascertain. Therefore, Executive recognizes and hereby agrees that the Company and its parents, subsidiaries and affiliates shall be entitled to an injunction from any court of competent jurisdiction enjoining and restraining
any breach or violation of any or all of the covenants and agreements contained in Section 9 of this Agreement by Executive and/or his employees, associates, partners or agents, or entities controlled by one or more of them, either directly or
indirectly, and that such right to injunction shall be cumulative and in addition to whatever other rights or remedies the Company, and its parents, subsidiaries or affiliates may possess. 

11. Indemnification. To the extent permitted by law and the Company’s or MKHL’s by-laws, the Company and/or MKHL (as
applicable) will indemnify Executive with respect to any claims made against him as an officer, director or employee of the MKHL, the Company or any other subsidiary of MKHL, except for acts taken in bad faith or in breach of his duty of loyalty to
the Company or MKHL. Executive shall be covered under a directors and officers liability insurance policy with a coverage limit of at least $2,000,000, to be maintained by the Company during the Term (and for as long thereafter as is practicable).

 12. Attorney’s Fees. The Company shall pay or reimburse Executive for reasonable legal expenses (including
reasonable attorney’s fees and expenses) incurred in connection with the preparation of this Agreement up to a maximum of $25,000. 
 13. Taxes. All payments to be made to and on behalf of Executive under this Agreement will be subject to required withholding of federal, state and local income and employment taxes, and to related
record reporting requirements. 
 14. Executive’s Representations; No Delegation. Executive hereby represents and
warrants that he is not precluded, by any agreement to which he is a party or to which he is subject, from executing and delivering this Agreement, and that this Agreement and his performance of the duties and responsibilities set forth herein does
not violate any such agreement. Executive shall indemnify and hold harmless the Company and its parents, subsidiaries and affiliates and their officers, directors, employees, agents and advisors for any liabilities, losses and costs (including
reasonable attorney’s fees) arising from any breach or alleged breach of the foregoing representation and warranty. Executive shall not delegate his employment obligations under this Agreement to any other person. 

15. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York
applicable to agreements made and to be performed in that state, without regard to its conflict of laws provisions. 
 16.
Entire Agreement; Amendment. This Agreement supersedes all prior agreements between the parties with respect to its subject matter, is intended (with the documents referred to herein) as a complete and exclusive statement of the terms of the
agreement between the parties with respect thereto and may be amended only by a writing signed by all parties hereto. 

  
 7 

 17. Notices. Any notice or other communication made or given in connection with this
Agreement shall be in writing and shall be deemed to have been duly given when delivered by hand, by facsimile transmission, by a nationally recognized overnight delivery service or mailed by registered mail, return receipt requested, to a party at
his or its address set forth below or at such other address as a party may specify by notice to the others: 
  

	
	 If to the Company or MKHL:

	
	 c/o Michael Kors (USA), Inc.

11 West 42nd Street, 28th Floor
 New York, NY 10036
 Fax: 646-354-4824

Attention: General Counsel

  

	
	 If to Executive:

	
	 At the home address on file with the Company

Fax: 516-365-6872

  

	
	 with a copy to:

	
	 Schlesinger Gannon & Lazetera LLP

535 Madison Avenue

New York, NY 10022

Fax: 212-652-3789

Attention: Sanford J. Schlesinger, Esq.

 or to such other addresses as either party hereto may from time to time specify to the other. Any notice given as
aforesaid shall be deemed received upon actual delivery. 
 18. Assignment. Except as otherwise provided in this
Section 18 and Section 1(c), this Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, representatives, successors and assigns. This Agreement shall not be assignable by Executive and
shall be assignable by the Company and MKHL, in whole or in part, only (i) to MKHL or any of its subsidiaries and (ii) subject to compliance with Section 1(c). 
 19. Severability. The invalidity of any one or more of the words, phrases, sentences, clauses or sections contained in this Agreement shall not affect the enforceability of the remaining portions
of this Agreement, or any part thereof, all of which are inserted conditionally on their being valid in law, and, in the event that any one or more of the words, phrases, sentences, clauses or sections contained in this Agreement shall be declared
invalid, this Agreement shall be construed as if such invalid word or words, phrase or phrases, sentence or sentences, clause or clauses, or section or sections had not been inserted. 

  
 8 

 20. Waiver. The failure of any party to insist upon strict adherence to any term or
condition of this Agreement on any occasion shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement. Any waiver must be in writing. 

21. Section Headings. The section headings contained in this Agreement are for reference purpose only and shall not affect in any
way the meaning or interpretation of this Agreement. 
 22. Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall be considered an original, but all of which together shall constitute the same instrument. 

23. Arbitration. Any dispute or claim between the parties hereto arising out of, or in connection with, this Agreement and/or
Executive’s employment shall become a matter for arbitration; provided, however, that Executive acknowledges and agrees that in the event of any alleged violation of Section 9 hereof, the Company and any of its parents, subsidiaries and
affiliates shall be entitled to obtain from any court in the State of New York, temporary, preliminary or permanent injunctive relief as well as damages, which rights shall be in addition to any other rights or remedies to which it may be entitled.
The arbitration shall take place in New York City and shall be before a neutral arbitrator in accordance with the Commercial Rules of the American Arbitration Association; provided however, that to the extent such arbitration involves any
allegation(s) of a violation of any law, rule or regulation which prohibits discrimination in employment, the arbitrator shall apply the National Rules for the Resolution of Employment Disputes (as modified) of the American Arbitration Association
then existing in determining the damages, if any, to be awarded and the allocation of costs and attorneys fees between or among the parties. The decision or award of the arbitrator shall be final and binding upon the parties hereto. The parties
shall abide by all awards recorded in such arbitration proceedings, and all such awards may be entered and executed upon in any court having jurisdiction over the party against whom or which enforcement of such award is sought. 

  
 9 

 IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement as of the
day and year first above written. 
  

			
	MICHAEL KORS (USA), INC.
		
	By:	 	/s/ Lee S. Sporn
		 	 Name: Lee S. Sporn

Title:   Senior Vice President of Business Affairs,
             General Counsel and Secretary

	
	MICHAEL KORS HOLDINGS LIMITED
		
	By:	 	/s/ Lee S. Sporn
		 	 Name: Lee S. Sporn

Title:   Senior Vice President of Business Affairs,
             General Counsel and Secretary

		
		 	/s/ John D. Idol
		 	JOHN D. IDOL

  
 10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00217-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00217-of-00352.parquet"}]]