Document:

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                                                                   Exhibit 10.29

                         SECOND MARCH 2000 AMENDMENT TO
                      AMENDED AND RESTATED CREDIT AGREEMENT

                  THIS AMENDMENT, dated as of the 24th day of March, 2000, among
MOVADO GROUP, INC., a New York corporation (the "Borrower"); each of the Lenders
which is a signatory to the Credit Agreement referred to below; THE CHASE
MANHATTAN BANK, as Agent, as Swingline Bank and as Issuing Bank; and FLEET BANK,
N.A., as Co-Agent.

                              Preliminary Statement

                  A. Reference is made to the Amended and Restated Credit
Agreement dated as of July 23, 1997 (the "Original Credit Agreement") among the
Borrower, the Lenders signatory thereto, The Chase Manhattan Bank, as Agent, as
Swingline Bank and as Issuing Bank, and Fleet Bank, N.A., as Co-Agent. The
Original Credit Agreement was amended by an Amendment dated as of August 5, 1997
and by a June 1998 Amendment dated as of June 10, 1998 and by a November 1998
Amendment and Waiver dated as of November 17, 1998 and by a February 1999
Amendment and Waiver dated as of February 19, 1999 and by a March 2000 Amendment
dated March 17, 2000. The Original Credit Agreement, as so amended, will be
called herein the "Credit Agreement". All capitalized terms used herein and not
defined shall have the respective meanings ascribed to them in the Credit
Agreement.

                  B. The Borrower has requested that a certain provision of the
Credit Agreement be amended.

                  NOW, THEREFORE, for good and valuable consideration (the
receipt and sufficiency of which are hereby acknowledged), the parties hereto
agree as follows:

ARTICLE 1.        PARTICULAR AMENDMENT

                  Section 1.1. Capital Expenditures. Section 9.05 of the Credit
Agreement is hereby amended to read as follows:

                           "The Borrower shall not permit Consolidated Capital
                           Expenditures to exceed $10,000,000 during any fiscal
                           year (on a noncumulative basis), except that with
                           respect to the fiscal year ending January 31, 1999
                           Consolidated Capital Expenditures shall not exceed
                           $12,500,000 and with respect to the fiscal year
                           ending January 31, 2000 Consolidated Capital
                           Expenditures shall not exceed $10,500,000; nor shall
                           the Borrower permit Consolidated Capital Expenditures
                           to exceed $30,000,000 during the period from the
                           Closing Date to the Maturity Date."

ARTICLE 2.        MATTERS GENERALLY

                  Section 2.1. Fee. Contemporaneously with the execution and
delivery of this Agreement, the Borrower shall pay a fee to such of the Lenders
as execute and deliver this Amendment on or before Friday, March 24, 2000, in
the amount of $1,000 each.

                  Section 2.2. Representations and Warranties. The Borrower
hereby represents and warrants that:

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                           (a) All the representations and warranties set forth
                  in the Credit Agreement are true and complete on and as of the
                  date hereof (with the same effect as though made on and as of
                  such date).

                           (b) No Default or Event of Default exists.

                           (c) The Borrower has no offset or defense with
                  respect to any of its obligations under the Credit Agreement
                  or any of the Notes or any other Facility Document, and no
                  claim or counterclaim against any Lender, the Swingline Bank,
                  the Issuing Bank, the Agent or the Co-Agent whatsoever (any
                  such offset, defense, claim or counterclaim as may now exist
                  being hereby irrevocably waived by the Borrower).

                           (d) This Amendment has been duly authorized, executed
                  and delivered by the Borrower.

                  Section 2.3. Guarantor Consent. The Guarantors shall execute
this Amendment in the space provided below to indicate their consent to the
terms of this Amendment.

                  Section 2.4. Expenses. The Borrower shall pay all reasonable
expenses incurred by the Agent in connection with this Amendment, including
(without limitation) the fees and disbursements of counsel for the Agent.

                  Section 2.5. Continuing Effect. Except as otherwise expressly
provided in this Amendment, all the terms and conditions of the Credit Agreement
shall continue in full force and effect. All the Facility Documents also shall
continue in full force and effect.

                  Section 2.6. Entire Agreement. This Amendment constitutes the
entire agreement of the parties hereto with respect to an amendment of the
Credit Agreement pertaining to the subject matter hereof, and it supersedes and
replaces all prior and contemporaneous agreements, discussions and
understandings (whether written or oral) with respect to such amendment.

                  Section 2.7. Counterparts. This Amendment may be executed in
two or more counterparts, each of which shall be deemed to be an original, but
all of which taken together shall constitute one and the same agreement.

                  Section 2.8. Effectiveness. This Amendment shall not become
effective unless and until it shall have been executed and delivered by the
Borrower, the Agent and the Required Lenders (which execution and delivery may
be evidenced by telecopies).

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

                                        MOVADO GROUP, INC.

                                        By:/s/Kenneth J. Adams
                                            Name (Print): Kenneth J. Adams
                                            Title: Sr.VP/CFO

                                        THE CHASE MANHATTAN BANK, as Agent,
                                        as Lender, as Swingline Bank and
                                        as Issuing Bank

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                                        By: /s/ Leonard Noll
                                            Name (Print):Leonard Noll
                                            Title:VP

                                        FLEET BANK, N.A., as Co-Agent and as
                                             Lender

                                        By: /s/ Christian J. Covello
                                            Name (Print):Christian J. Covello
                                            Title:Vice President

                                        HSBC BANK USA

                                        By: /s/ Gregory
                                            Name (Print):
                                            Title:

                                        THE BANK OF NEW YORK

                                        By:
                                        Name (Print):
                                        Title:

                                        CREDIT SUISSE FIRST BOSTON

                                        By:
                                        Name (Print):
                                        Title:

                                        By:
                                        Name (Print):
                                        Title:
CONSENTED TO:

SWISSAM INC., as Guarantor

By:  /s/ Howard Regenbogen
     Name (Print):Howard Regenbogen
     Title:Treasurer

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NAW CORPORATION, as Guarantor

By:  /s/Robert Gilsenan
     Name (Print):Robert Gilsenan
     Title:President

NAWC CORUM CORPORATION, as Guarantor

By:  /s/Robert Gilsenan
     Name (Print):Robert Gilsenan
     Title:President

MOVADO CORPORATION, as Guarantor

By:  /s/Robert Gilsenan
     Name (Print):Robert Gilsenan
     Title:President

                                       4<PAGE>   1
                           SECOND AMENDMENT OF LEASE

                                                                   Exhibit 10.30

     This SECOND AMENDMENT OF LEASE is made as of the 23rd day of December, 1998
between MEADOWLANDS ASSOCIATES, a New Jersey limited partnership, ("Landlord")
having an address at PW/MS Management Co., Inc., c/o Gale & Wentworth, LLC, Park
Avenue at Morris County, 200 Campus Drive, Suite 200, Florham Park, New Jersey
07932-1007 and MOVADO GROUP, INC., a New York corporation, having an office at
125 Chubb Avenue, Lyndhurst, New Jersey  07071 (hereinafter called "Tenant").

                                  WITNESSETH:

     WHEREAS:

     A. Landlord and North American Watch Corporation, predecessor-in-interest
to Tenant, heretofore entered into a certain lease dated as of October 31, 1986,
as amended by a certain first amendment of lease dated as of May 31, 1994
("First Amendment") (said lease as it was or may hereafter be amended is
hereinafter called the "Lease") with respect to (i) the entire rentable square
foot area of the fourth (4th) floor and (ii) a portion of the rentable square
foot area of the fifth (5th) floor (collectively, "Demised Premises") of the
building known as and located at 125 Chubb Avenue, Lyndhurst, New Jersey
("Building"); and

     B. Tenant is desirous of increasing the size of the Demised Premises by the
addition of 17,862 rentable square feet ("Expansion Space") on the fifth (5th)
floor of the Building, as illustrated on Schedule A, attached hereto and made a
part hereof; and

     C. Tenant is desirous of extending by eight (8) months the term for the
10,363 rentable square foot Additional Space

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(defined in WHEREAS clause B. of the First Amendment) on the fifth (5th) floor
of the Building; and

     D.   The parties hereto desire to further modify the Lease in certain
other respects.

     NOW, THEREFORE, in consideration of the promises and mutual covenants
hereinafter contained, the parties hereto modify the Lease as follows:

     1.   DEFINED TERMS. Except as specifically provided otherwise in this
Second Amendment of Lease, all defined terms contained in this Second Amendment
of Lease shall, for the purposes hereof, have the same meaning ascribed to them
in the Lease.

     2.   EXPANSION SPACE COMMENCEMENT DATE. The Demised Premises shall be
deemed expanded to include the Expansion Space on the earlier of ("Expansion
Space Commencement Date") (i) the date Tenant takes possession of all or any
part of the Expansion Space or (ii) August 1, 1999. As of the Expansion Space
Commencement Date, the attached Schedule A shall be added to and become a part
of Exhibit A (Rental Plan) to the Lease. On or about the Expansion Space
Commencement Date, Landlord may deliver to Tenant a notice ("Expansion Space
Commencement Date Notice") confirming, among other things, the inclusion of the
Expansion Space within the Demised Premises as of the Expansion Space
Commencement Date. If Tenant receives the Expansion Space Commencement Date
Notice, Tenant shall sign same and return it fully executed to Landlord within
five (5) days after Tenant's receipt thereof. Tenant's failure to timely return
a fully executed unamended original counterpart of the Expansion Space
Commencement Date Notice shall constitute Tenant's express consent with and
agreement to all the terms contained in the Expansion Space Commencement Date
Notice as prepared by Landlord.

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     3.   CONDITION OF EXPANSION SPACE. As of the Expansion Space Commencement
Date, Tenant shall be deemed to have accepted the Expansion Space in its then
"as is" physical condition and state of repair. In that regard, Landlord shall
have no obligation to do any work or perform any services with respect to the
Expansion Space or grant Tenant any construction allowance.

     4.   EXTENSION OF ADDITIONAL SPACE TERM.   Pursuant to the First
Amendment, Tenant leased the 10,363 rentable square foot Additional Space on the
fifth (5th) floor of the Building for a period (defined as the "Additional
Space Term" in Paragraph 2. of the First Amendment) commencing on September 8,
1994 and ending on September 30, 1999 (defined as the "Additional Space
Termination Date"). Notwithstanding anything contained to the contrary in
Paragraph 2. of the First Amendment, the Additional Space Termination Date
shall be, and the Additional Space Term shall end on, May 31, 2000.

     5.   MINIMUM RENT.  The Lease is hereby amended to provide that the
Minimum Rent, on an annual basis, shall be:

          (i)  TWO MILLION TWO HUNDRED SIXTY FIVE THOUSAND SIX HUNDRED EIGHTY
          SEVEN AND 50/100 DOLLARS ($2,265,687.50) for the period commencing on
          the Expansion Space Commencement Date and ending on September 30,
          1999, payable in advance on the first day of each calendar month in
          equal monthly installments of ONE HUNDRED EIGHTY EIGHT THOUSAND EIGHT
          HUNDRED SEVEN AND 29/100 DOLLARS ($188,807.29);

          (ii) TWO MILLION TWO HUNDRED NINETY ONE THOUSAND FIVE HUNDRED NINETY
          FIVE AND 00/100 DOLLARS ($2,291,595.00) for the period commencing on
          October 1, 1999 and ending on May 31, 2000, payable in advance on the
          first day of each calendar month in equal monthly installments of ONE
          HUNDRED NINETY THOUSAND NINE HUNDRED SIXTY SIX AND 25/100 DOLLARS
          ($190,966.25);

          (iii)  ONE MILLION SIX HUNDRED NINETY EIGHT THOUSAND EIGHT HUNDRED
          SEVENTY AND 00/100 DOLLARS ($1,698,870.00) for the period commencing
          on June 1, 2000 and ending on the Termination Date, payable in advance
          on the

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                   first day of each calendar month in equal
                   monthly installments of ONE HUNDRED FORTY ONE
                   THOUSAND FIVE HUNDRED SEVENTY TWO AND 50/100
                   DOLLARS ($141,572.50).

     6.  SIZE OF DEMISED PREMISES.  Section 36.2 of the Lease shall be amended
as of the date hereof to provide that, only for the period beginning on the
Expansion Space Commencement Date until the Actual Surrender Date (hereinafter
defined in Paragraph 7), (i) the Demised Premises shall be deemed to contain a
floor area of 84,854 rentable square feet and (ii) the Occupancy Percentage
shall be 30.5%. For the period beginning on the day following the Actual
Surrender Date until the Termination Date, Section 36.2 of the Lease shall be
amended to provide that (a) the Demised Premises shall be deemed to contain a
floor area of 56,629 rentable square feet and (b) the Occupancy Percentage
shall be 20.3%.

     7.  SURRENDER OF FIFTH FLOOR SPACE.  The Expansion Space and Additional
Space are hereinafter collectively referred to as the "Fifth Floor Space".
Tenant shall deliver the Fifth Floor Space to Landlord by May 31, 2000 in the
same physical condition and state of repair that would apply to the Fifth Floor
Space as if May 31, 2000 were the Termination Date. May 31, 2000 is hereinafter
referred to as the "Scheduled Surrender Date". Subject to the Lease and to the
other provisions of this Second Amendment of Lease, Tenant's obligations with
regard to the Fifth Floor Space shall cease on the Scheduled Surrender Date as
if the Scheduled Surrender Date were the Termination Date. The earliest date
after the Scheduled Surrender Date by when Tenant has delivered to Landlord the
Fifth Floor Space in the physical condition and state of repair as required
hereunder is hereinafter called the "Actual Surrender Date". If the Actual
Surrender Date fails to occur by the Scheduled Surrender Date,

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then, Tenant shall be deemed a holdover tenant at sufferance for the Fifth
Floor Space and shall be liable to Landlord under Article 55 of the Lease as if
the Scheduled Surrender Date were the Termination Date. As of the Actual
Surrender Date, Exhibit A to the Lease shall be deemed to have excluded
therefrom the Fifth Floor Space. Nothing in this Second Amendment of Lease
shall be  deemed to constitute a release or discharge of Tenant with respect to
any outstanding and unsatisfied obligation or liability, whether unbilled or
calculated, accrued or incurred under the Lease, such as, but not limited to,
Minimum Rent, Adjusted Minimum Rent, additional rent and other charges payable
by Tenant in connection with the Fifth Floor Space, up to and including the
Actual Surrender Date.

8.   ESCALATIONS ON EXPANSION SPACE.  For purposes of computing the additional
rent accruing on and after the Expansion Space Commencement Date solely for the
Expansion Space that is due Landlord under Section 36.4(1) of the Lease, as of
the Expansion Space Commencement Date, (A) Section 36.1(4) of the Lease shall
be deleted and replaced with the following new Section 36.1(4): "First Tax Year
shall mean the calendar year ending December 31, 1999. Tax Year shall mean any
calendar year thereafter;" and (B) Section 36.1(2) of the Lease shall be
deleted and replaced with the following new Section 36.1(2); "Base Tax Rate
shall mean the real estate tax rate in effect on the date of the Second
Amendment of Lease." For purposes of computing the additional rent accruing on
and after the Expansion Space Commencement Date solely for the Expansion Space
that is due Landlord under Section 36.5(1) of the Lease, as of the Expansion
Space Commencement Date, Section 36.1(3) of the Lease shall be deleted and
replaced with the following new Section 36.1(3): "First Operating Year shall
mean the calendar year

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ending December 31, 1999. Operating Year shall mean any calendar year
thereafter;".

     9. ESCALATIONS ON ADDITIONAL SPACE. For purposes of computing the
additional rent accruing on and after October 1, 1999 solely for the Additional
Space that is due Landlord under Section 36.4(1) of the Lease, as of October 1,
1999, (A) Section 36.1(4) of the Lease shall be deleted and replaced with the
following new Section 36.1(4): "First Tax Year shall mean the calendar year
ending December 31, 1999. Tax Year shall mean any calendar year thereafter;" and
(B) Section 36.1(2) of the Lease shall be deleted and replaced with the
following new Section 36.1(2): "Base Tax Rate shall mean the real estate tax
rate in effect on the date of the Second Amendment of Lease." For purposes of
computing the additional rent accruing on and after October 1, 1999 solely for
the Additional Space that is due Landlord under Section 36.5(1) of the Lease as
of October 1, 1999, Section 36.1(3) of the Lease shall be deleted and replaced
with the following new Section 36.1(3): "First Operating Year shall mean the
calendar year ending December 31, 1999. Operating Year shall mean any calendar
year thereafter;".

     10. BROKERAGE. Tenant represents that it has had no dealings or
communications with any real estate broker or agent in connection with this
Second Amendment of Lease, except Cushman & Wakefield of New Jersey, Inc. Tenant
agrees to defend indemnify and hold Landlord, its affiliates and/or subsidiaries
and the partners, directors, officers of Landlord and its affiliates and/or
subsidiaries harmless from and against any and all costs, expenses or liability
(including attorney's fees, court costs and disbursements) for any commission or
other compensation claimed by any broker or agent in connection with this Second
Amendment of Lease, except Cushman & Wakefield of New Jersey, Inc.

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         11.  CORPORATE AUTHORITY.  Tenant represents that the undersigned
officer of the Tenant corporation has been duly authorized on behalf of the
Tenant corporation to enter into this Second Amendment of Lease in accordance
with the terms, covenants and conditions set forth herein, and, upon Landlord's
request, Tenant shall deliver an appropriate certification by the Secretary of
the Tenant corporation to the foregoing effect.

         12.  LEASE RATIFICATION.  Except as expressly amended by this Second
Amendment of Lease and the First Amendment, the Lease, and all terms, covenants
and conditions thereof, shall remain in full force and effect and is hereby in
all respects ratified and confirmed.

         13.  NO ORAL CHANGES.  This Second Amendment of Lease may not be
changed orally, but only by a writing signed by both Landlord and Tenant.

         14.  NO DEFAULT.  Tenant confirms that (i) Landlord has complied with
all of its obligations contained in the Lease and (ii) no event has occurred and
no condition exists which, with the passage of time or the giving of notice, or
both, would constitute a default by Landlord under the Lease.

         15.  NON-BINDING DRAFT.  The mailing or delivery of this document by
Landlord or its agent to Tenant, its agent or attorney shall not be deemed an
offer by the Landlord on the terms set forth in such document or draft, and such
document or draft may be withdrawn or modified by Landlord or its agent at any
time and for any reason. The purpose of this section is to place Tenant on
notice that this document or draft shall not be effective, nor shall Tenant have
any rights with respect hereto, unless and until Landlord shall execute and
accept this document. No representations or promises shall be binding on the
parties hereto except those representations and promises contained in a fully

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executed copy of this document or in some future writing signed by Landlord
and Tenant.

          16. NOTICES. As of the date hereof, the following provision from
Section 57.1 NOTICES of the Lease shall be deemed deleted:

              LANDLORD: Meadowlands Associates
                        c/o Bellemead Development Corporation
                        4 Becker Farm Road
                        Roseland, New Jersey 07068

        with copies to: Sanford Grossman, Esq.
                        Simpson Thacher & Bartlett
                        One Battery Park Plaza
                        New York, New York 10004

and shall be replaced by the following new provision:

              LANDLORD: Meadowlands Associates
                        PW/MS Management Co., Inc.
                        c/o Gale & Wentworth, LLC
                        Park Avenue at Morris County
                        200 Campus Drive, Suite 200
                        Florham Park, New Jersey 07932-1007
                        Attention: Marc Leonard Ripp, Esq.
                                   General Counsel

          17. NO RENEWAL OPTIONS ON ADDITIONAL SPACE. As of the date hereof, (i)
all of Tenant's benefits, entitlements, rights and privileges under Paragraph 10
of the First Amendment shall be deemed without legal force, (ii) any exercise or
attempted exercise of any right or option by Tenant under Paragraph 10 of the
First Amendment shall be deemed ineffective and (iii) all of Landlord's duties,
liabilities, obligations, responsibilities and commitments contained in
Paragraph 10 of the First Amendment shall be deemed null and void.

     IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment of
Lease to be executed on the day and year first written above.

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Signed and delivered

                                        LANDLORD:

                                        MEADOWLANDS ASSOCIATES
WITNESSED BY:                           By: ARC Meadowlands Associates,
                                            General Partner

                                        By: ARC Meadowlands, Inc.,
                                            General Partner

Fiona G. O'Reilly                       By: /s/ Michael Futterman
-------------------------                   ----------------------
Name: Fiona G. O'Reilly                         Michael Futterman
-------------------------                       President
     (Please Print)

ATTESTED BY:                            AGENT FOR LANDLORD:

                                        PW/MS MANAGEMENT CO., INC.
                                        By: Gale & Wentworth, LLC

/s/ Marc Leonard Ripp, Esq.             By: /s/ Robert R. Martie
-------------------------                   ----------------------
    Marc Leonard Ripp, Esq.                 Robert R. Martie
    Corporate Secretary                     Senior Vice President

ATTESTED BY:                            TENANT:

                                        MOVADO GROUP, INC.
/s/ Timothy F. Mizhno                   By: /s/ Michael J. Bush
-------------------------                   ----------------------
Name: Timothy F. Mizhno                     Michael J. Bush
-------------------------                   Chief Operating Officer
       (Please Print)
Title: Corporate Secretary

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                                   SCHEDULE A
                                   ----------

                              Floor Plan of 17,862
                              Rentable Square Foot
                                Expansion Space

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           [5TH FLOOR TENANT LAYOUT PLAN WITH MARKED EXPANSION SPACE]

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