Document:

QuickLinks
 -- Click here to rapidly navigate through this document
  

EXHIBIT 10.21  

 
 

FOURTH AMENDMENT
  TO THE
  1993 LONG-TERM INCENTIVE PLAN
  of
  FOSSIL, INC.    
    

        This Fourth Amendment to the 1993 Long-Term Incentive Plan of Fossil, Inc. ("Plan") is hereby adopted by Fossil, Inc. ("Corporation") on
the 22 day of April, 2004. 

 
 

W I T N E S S E T H:    
    

        WHEREAS, the Corporation established the Plan as approved and ratified by stockholders effective in 1993; 

        WHEREAS, pursuant to Section 11 of the Plan, the Board of Directors has the right to alter, amend, or suspend certain provisions of
the Plan, except that where shareholder approval is required by applicable legal requirements, such amendment may not be effective prior approval by the Corporation's stockholders; 

        WHEREAS, the Board has adopted certain resolutions approving the updating of the name of the Plan, and the expansion of the class of
persons entitled to receive awards under the Plan, the latter change requiring shareholder approval in order to continue to grant incentive stock options under the Plan; and 

        WHEREAS, the Board of Directors has authorized a proper officer of the Corporation to execute this Fourth Amendment. 

        NOW THEREFORE, pursuant to its authority under Section 11 of the Plan, the Corporation hereby amends the Plan as follows: 

        1.     The
name of the Plan shall be changed, effective on the date of execution of this Fourth Amendment, to read as follows: 

	"2004 Long-Term Incentive Plan of Fossil, Inc."

        2.     Section 2
of the Plan is amended, effective on the date it is approved by the holders of a majority of shares of Common Stock present, or represented, and entitled
to vote at a meeting of the Company's stockholders held on or before the first anniversary of the date of this Fourth Amendment ("Shareholder Approval Date"), by deleting the existing definition of
"Participant" and replacing it with the following: 

	"Participant" means an eligible employees of, or consultants providing services to, the Company or any of its Subsidiaries to whom an Award has been made under the Plan."

        3.     Section 2
of the Plan, is amended, effective on the Shareholder Approval Date, by deleting the existing definition of "Subsidiary," and replacing it with the
following: 

	"Subsidiary" means any corporation of which the Company directly or indirectly owns shares representing 25% or more of the voting power of all classes or series of capital stock of such corporation which have the right
to vote generally on matters submitted to a vote of the stockholders of such corporation."

1

 

        4.     Section 3
of the Plan is amended, effective on the Shareholder Approval Date, by deleting Section 3 in its entirety and replacing it with the following: 

	"Eligibility.    Employees of, and consultants providing services to, the Company and its Subsidiaries eligible for an Award under this Plan are those
who hold positions of responsibility and whose performance, in the judgment of the Committee, can have a significant effect on the success of the Company and its Subsidiaries."

        5.     Section 7(a)
of the Plan is amended, effective on the Shareholder Approval Date, by deleting the second sentence thereof in its entirety, and replacing it with the
following: 

	"A stock option granted to a Participant who is an employee of the Company on the date of grant may be in the form of an incentive stock option ("ISO") which, in addition to being subject to the applicable terms,
conditions and limitations established by the Committee, complies with Section 422 of the Code."

        6.     Section 12
of the Plan is amended, effective on the Shareholder Approval Date, by deleting the first sentence thereof and replacing it with the following: 

	"Upon termination of employment, or cessation of services, by a Participant, any unexercised, deferred or unpaid Awards shall be treated as provided in the specific Award Agreement evidencing the Award."

        IN WITNESS WHEREOF, the Corporation has caused this instrument to be executed by a duly authorized officer on the
date first written above. 

	 	 	FOSSIL, INC.
	

 	
 	

By:	
 	

/s/ Kosta N. Kartsotis

	 	 	Name:	 	Kosta N. Kartsotis
	 	 	Title:	 	President and Chief Executive Officer

2

QuickLinks

FOURTH AMENDMENT TO THE 1993 LONG-TERM INCENTIVE PLAN of FOSSIL, INC.

W I T N E S S E T HQuickLinks
 -- Click here to rapidly navigate through this document

EXHIBIT 10.22  

 
 

FIFTH AMENDMENT TO THE
  2004 LONG-TERM INCENTIVE PLAN
  of
  FOSSIL, INC.    
    

        WHEREAS, Fossil, Inc. (the "Company") has previously adopted the 2004 Long-Term Incentive Plan
(the "Plan"), providing for awards to provide Participants with a proprietary interest in the growth and performance of the Company and its Subsidiaries; 

        WHEREAS, the Plan authorizes Stock Awards, which may be denominated in units of Common Stock; and 

        WHEREAS, to facilitate the Company's award of restricted stock units under the Plan, the Board has authorized that the Plan be amended, to
clarify its terms with respect to awards of restricted stock units thereunder, and to specify the terms of restricted stock unit awards; 

        NOW, THEREFORE, THE PLAN IS HEREBY AMENDED AS FOLLOWS:  

        New Section 7(e) is added to the Plan, to provide as follows: 

        7.     Awards.

        (e)   Restricted Stock Units.    An award may consist of Restricted Stock Units. A Restricted Stock Unit shall
entitle the Participant to receive a share of Common Stock at such future time and upon such terms as specified by the Committee in the Award Agreement. Restricted Stock Units issued under the Plan
may have restrictions which lapse based upon continuous service with the Company and its Subsidiaries, achievement of specific business objectives, increases in specified indices, attaining growth
rates and other comparable measurements of performance that the Committee may determine appropriate. The Committee may require a cash payment from the Participant in exchange for the grant of
Restricted Stock Units or may grant Restricted Stock Units without the requirement of a cash payment. 

Executed
this 1st day of January, 2006. 

	 	 	FOSSIL, INC.
	

 	
 	

By:	
 	

/s/ Kosta N. Kartsotis

	 	 	Name:	 	Kosta N. Kartsotis
	 	 	Title:	 	President and Chief Executive Officer

QuickLinks

FIFTH AMENDMENT TO THE 2004 LONG-TERM INCENTIVE PLAN of FOSSIL, INC.QuickLinks
 -- Click here to rapidly navigate through this document
  

EXHIBIT 10.23  

 
 

FORM OF
  FOSSIL, INC.
  RESALE RESTRICTION AGREEMENT    
    

        This RESALE RESTRICTION AGREEMENT (the "Agreement") with respect to certain stock option award agreements (the "Award Agreements") issued under the 2004
Long-Term Incentive Plan of Fossil, Inc., as amended (the "Plan"), is made by and between Fossil, Inc., a Delaware corporation (the "Company"), and
                                         
        (the "Holder"). 

        WHEREAS,
the Holder has been granted one or more options, which are currently unvested (the "Options"), to acquire shares of common stock of the Company (the "Shares") in such quantities
and at the exercise prices set forth in Exhibit A hereto pursuant to the Award Agreements; 

        WHEREAS,
the Company's Compensation Committee has recently approved the acceleration of the vesting of the Options, subject to the Holder's agreement to the terms and conditions set
forth in this Agreement; and 

        WHEREAS,
the Company and the Holder wish to impose certain resale restrictions on the Shares subject to the Options as provided herein on the terms and conditions contained herein. 

        NOW,
THEREFORE, it is agreed as follows: 

        1.     The
Holder acknowledges that he has reviewed this Agreement in full. 

        2.     The
Holder agrees that he or she will not directly or indirectly (including through any entity that the Holder controls or is affiliated with) sell, contract to sell,
grant any option to purchase, transfer the economic risk of ownership in, make any short sale of, pledge or otherwise transfer or dispose of any Shares (or any interest in any Shares) until the Shares
have been released from the foregoing resale restrictions (hereinafter referred to as the "Resale Restrictions"). 

        3.     The
Holder agrees that the Shares identified in Exhibit A shall be subject to the Resale Restrictions. The Company and its transfer agent are authorized to decline
to make any transfer of securities if such transfer would constitute a violation or breach of this Agreement. Any attempted transfer by the Holder in breach of this Agreement shall be null and void.
Any Shares subject to the Resale Restrictions may be retained in the physical custody of the Company or in an account at a securities brokerage firm designated by the Company, and may contain a
restrictive legend, stop transfer order or other applicable restriction, all in the Company's sole discretion. 

        4.     The
Resale Restrictions shall lapse with respect to each grant in accordance with the schedule set forth in Exhibit A; provided, that in the event that the Award
Agreement, the Plan or any other agreement between the Company and the Holder would otherwise have caused the acceleration of the vesting of the Options (if the Company's Compensation Committee had
not already accelerated the Options as described above), then the Resale Restrictions shall earlier lapse on such date (including in the event that the Holder ceases to be employed by the Company or
its subsidiaries by reason of his or her death). 

        5.     In
the event the Holder's employment with the Company is terminated for any reason other than death, the Resale Restrictions shall continue to apply to the Shares subject
to the Options in accordance with the schedule set forth on Exhibit A (subject to their earlier lapse in accordance with Section 4 hereof). 

        6.     This
Agreement shall be effective as of November 16, 2005. 

        7.     The
Holder represents and warrants that he has full power to enter into this Agreement. 

1

 

        8.     This
Agreement, the Award Agreements and the Plan constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety
all prior understandings and agreements of the Company and the Holder with respect to the subject matter hereof, and may not be modified except by means of a writing signed by the Company and the
Holder. The Resale Restrictions contemplated by this Agreement shall not be deemed to supersede, but shall be in addition to any other restrictions applicable to the Shares set forth in the Award
Agreements, the Plan and any other agreements between the Company and the Holder. This Agreement is to be construed in accordance with and governed by the internal laws of the State of Delaware
without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the internal laws of the State of Delaware to the rights and duties of the
parties. Nothing in this Agreement (except as expressly provided herein) is intended to confer any rights or remedies on any persons other than the parties. Should any provision of this Agreement be
determined to be illegal or unenforceable, such provision shall be enforced to the fullest extent allowed by law and the other provisions shall nevertheless remain effective and shall remain
enforceable. 

        9.     This
Agreement shall be binding upon the Company and the Holder as well as the successors and assigns (if any) of the Company and the Holder. 

        IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and delivered on the date set forth beside such party's signature. 

	

FOSSIL, INC.	
 	

HOLDER
	

By:	
 	

	
 	

	

 	
 	

Name:	
 	

	
 	

Name:	
 	

	

 	
 	

Title:	
 	

	
 	

 	
 	

 
	

Dated:                        , 2005	
 	

Dated:                        , 2005

2

 
 
 

EXHIBIT A    
    

	Grant Date
 
	 	Exercise Price
	 	Number of

Option Shares
	 	Date of Lapse of

Resale Restrictions

	    	 	 	 	 	 	 
	    	 	 	 	 	 	 
	    	 	 	 	 	 	 
	    	 	 	 	 	 	 
	    	 	 	 	 	 	 
	    	 	 	 	 	 	 
	    	 	 	 	 	 	 
	    	 	 	 	 	 	 
	    	 	 	 	 	 	 
	    	 	 	 	 	 	 

3

QuickLinks

FORM OF FOSSIL, INC. RESALE RESTRICTION AGREEMENT

EXHIBIT A

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00098-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00098-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00098-of-00352.parquet"}]]