Document:

Amended and Restated Michael Kors (USA), Inc. Stock Option Plan

 Exhibit 10.4 
 EXECUTION VERSION 
 AMENDED AND RESTATED MICHAEL KORS (USA), INC.

 STOCK OPTION PLAN 
 Section 1. Purpose 
 The Plan authorizes the Option Committee to
provide persons or entities that are providing, or have agreed to provide, services to the Company or its Affiliates, who are in a position to contribute to the long-term success of the Company or its Affiliates, with Options to acquire Shares. The
Company believes that this incentive program will cause those persons to increase their interest in the welfare of the Company and its Affiliates, and aid in attracting, retaining and motivating persons of outstanding ability. 

The Plan, which was originally adopted on April 15, 2008, was amended and restated effective as of July 11, 2011 to reflect the
internal corporate restructuring of MKHL (as defined herein) and certain affiliates of Michael Kors Corporation whereby such affiliates were merged into MKHL, resulting in certain indirect equity owners of MKHL becoming direct shareholders of MKHL.

 Section 2. Definitions 
 Capitalized terms used herein shall have the meanings set forth in this Section. 

(a) “Affiliate” shall mean any person or entity that, either directly or indirectly through one or more intermediaries,
(i) controls the Company, or (ii) is controlled by the Company or a person described in clause (i). 
 (b)
“Annual Performance Goal” shall mean an annual divisional pre-tax profit (or controllable expenses for corporate departments) budget as determined by the Option Committee. The Annual Performance Goal shall be established in advance
of each Fiscal Year as the budget goal consistent with the Company’s established budget process. 
 (c) “Applicable
Securities” shall have the meaning set forth in Section 2(e). 
 (d) “Cause” means, in the case
of a Grantee who has an employment agreement with the Company or an Affiliate in effect at the time of his termination of employment, the definition of “Cause” set forth in such employment agreement. Otherwise, “Cause” means:
(i) Grantee’s gross negligence or willful misconduct, or willful failure to substantially perform Grantee’s duties as an Employee of the Company or any of its Affiliates (other than due to physical or mental illness or incapacity),
(ii) Grantee’s conviction of, or plea of guilty or nolo contendere to a felony (or the equivalent of a felony in a jurisdiction other than the United States), (iii) Grantee’s willful breach of a material provision of the Plan or
the Grant Certificate or any employment or other agreement with the Company or any of its Affiliates, (iv) Grantee’s willful violation of the Company’s written policies that the Option Committee determines is detrimental to the best
interests of the Company; (v) Grantee’s fraud or misappropriation, embezzlement or material misuse of funds or property belonging to the Company or its Affiliates; (vi) Grantee’s use of alcohol or drugs that interferes with the
performance of Grantee’s duties 

 
as an Employee of the Company or any of its Affiliates; or (vii) any action or conduct of Grantee that materially adversely affects the integrity and reputation of the Company or its
Affiliates, their employees or their products, as determined by the Option Committee. 
 (e) “Change in
Control” means the occurrence of all of the following: (i) the direct or indirect beneficial owners (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of the outstanding securities of MKHL on April 15, 2008
other than Mr. Michael Kors (the “Applicable Securities”), and such beneficial owners’ affiliates (the “SHL Fashion Holders”), directly or indirectly sell, transfer or otherwise dispose of, measured on a
cumulative basis, to one or more individuals, entities or groups (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act (each, a “Person”)) other than the SHL Fashion Holders, at least 60% of the combined
voting power of the Applicable Securities; (ii) Mr. John Idol and Mr. Michael Kors no longer collectively have direct or indirect beneficial ownership, in the aggregate, of at least 20% of the combined voting power of MKHL’s
outstanding securities; and (iii) a Person other than the SHL Fashion Holders becomes the direct or indirect beneficial owner of a percentage of the combined voting power of MKHL’s outstanding securities that is greater than the percentage
of the combined voting power of MKHL’s outstanding securities beneficially owned directly or indirectly by the SHL Fashion Holders. 
 (f) “Code” shall mean the Internal Revenue Code of 1986, as amended. 
 (g) “Company” shall mean Michael Kors (USA), Inc., a corporation organized under the laws of the State of Delaware. 

(h) “Determination Date” shall mean, with respect to any given Fiscal Year, the date on which the Company determines
that the Annual Performance Goal has been achieved for such Fiscal Year. Unless otherwise determined by the Option Committee, such determination shall be made as soon as administratively feasible after, but not earlier than 90 days after, the end of
such Fiscal Year. 
 (i) “Employee” shall mean any person or entity that is providing, or has agreed to
provide, services to the Company or any of its Affiliates, whether as an employee, director or independent contractor. 
 (j)
“Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 (k) “Exercise Right”
shall have the meaning set forth in Section 5(c). 
 (l) “Fair Market Value” of a Share on any given date
shall be determined by the Option Committee, in its sole discretion. 
 (m) “Family Member” means any child,
stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, any person sharing
the Grantee’s household (other than a tenant or employee), a trust in which these persons have more than 50% of the beneficial interest, a foundation in which these persons (or the Grantee) control the management of assets and

  
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any other entity in which these persons (or the Grantee) own more than 50% of the voting interests. 
 (n) “First Catchup Determination Date” shall have the meaning set forth in Section 6(a)(iii). 
 (o) “First Unvested Tranche” shall have the meaning set forth in Section 6(a)(iii). 
 (p) “Fiscal Year” shall mean the fiscal year of the Company, which on the date hereof is the period beginning on or about April 1 and ending on or about March 30. 

(q) “General Termination” shall have the meaning set forth in Section 5(c). 

(r) “Grant Certificate” shall mean a certificate accepted by the Grantee, or other written agreement between the Company
and the Grantee, evidencing the grant of an Option hereunder and containing such terms and conditions, not inconsistent with the express provisions of the Plan, as the Option Committee shall approve. 

(s) “Grantee” shall mean an Employee granted an Option under the Plan. 

(t) “Initial CIC Payment” shall have the meaning set forth in Section 8(a). 

(u) “IPO” shall mean the consummation of an initial underwritten public offering by MKHL (or any corporate successor of
MKHL) of its Shares (or a successor security) pursuant to a registration statement (other than a registration statement relating solely to an employee benefit plan) that has been filed under the Securities Act and declared effective by the
Securities and Exchange Commission. 
 (v) “MKHL” shall mean Michael Kors Holdings Limited, a corporation
organized under the laws of the British Virgin Islands. 
 (w) “Option Committee” shall mean the Board of
Directors of the Company, or such committee as may be appointed by the Board of Directors. 
 (x) “Options”
shall refer to options to purchase Shares issued under and subject to the Plan. 
 (y) “Person” shall have the
meaning set forth in Section 2(e). 
 (z) “Plan” shall mean this Amended and Restated Michael Kors (USA),
Inc. Stock Option Plan as set forth herein and as amended from time to time. 
 (aa) “Repurchase Payment” shall
have the meaning set forth in Section 5(c)(i). 
 (bb) “Second Catchup Determination Date” shall have the
meaning set forth in Section 6(a)(iii). 

  
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 (cc) “Second Unvested Tranche” shall have the meaning set forth in
Section 6(a)(iii). 
 (dd) “Securities Act” shall mean the Securities Act of 1933, as amended. 

(ee) “Share” shall mean an ordinary share of MKHL, no par value. 

(ff) “Shareholder Net Equity” shall mean the shareholder net equity for MKHL, as determined for financial statement
reporting purposes for any given Fiscal Year. For the Fiscal Year ended March 31, 2007, Shareholder Net Equity shall be $431 million. 
 (gg) “SHL Fashion Holders” shall have the meaning set forth in Section 2(e). 
 (hh) “Spread” shall have the meaning set forth in Section 5(c). 
 (ii) “Underwriters Agreement” shall have the meaning set forth in Section 9(b). 
 (jj) “12h-1(f) Exemption” means the exemption from registration under Section 12(g) of the Exchange Act by operation of Rule 12h-1(f) of the Exchange Act. 

Section 3. Shares Available under the Plan 
 Subject to the provisions of Section 7, the total number of Shares with respect to which Options may be granted under the Plan shall not exceed 6,310,743. If, prior to exercise, any Options are
forfeited, lapse or terminate for any reason, the Shares covered thereby may again be available for Option grants under the Plan. 

Section 4. Administration of the Plan 
 (a) Authority of the Option Committee. The Plan shall be administered by the Option Committee. The Option Committee shall have full and final authority to take the following actions, in each case
subject to and consistent with the provisions of the Plan: 
 (i) to select the Employees to whom Options may be
granted; 
 (ii) to determine the number of Shares subject to each such Option; 

(iii) to determine the terms and conditions of any Option granted under the Plan, including the exercise price, vesting
schedules, conditions relating to exercise and termination of the right to exercise; 
 (iv) to determine the
restrictions or conditions related to the delivery, holding and disposition of Shares acquired upon exercise of an Option; 
 (v) to prescribe the form of each Grant Certificate; 

  
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 (vi) to adopt, amend, suspend, waive and rescind such rules and regulations
and appoint such agents as the Option Committee may deem necessary or advisable to administer the Plan; 
 (vii)
to correct any defect or supply any omission or reconcile any inconsistency in the Plan and to construe and interpret the Plan and any Option, Grant Certificate or other instrument hereunder; and 

(viii) to make all other decisions and determinations as may be required under the terms of the Plan or as the Option
Committee may deem necessary or advisable for the administration of the Plan. 
 (b) Manner of Exercise of Option Committee
Authority. Any action of the Option Committee with respect to the Plan shall be final, conclusive and binding on all persons, including the Company, its Affiliates, Grantees and any person claiming any rights under the Plan from or through any
Grantee, except to the extent the Option Committee may subsequently modify, or take further action not consistent with, its prior action. If not specified in the Plan, the time at which the Option Committee must or may make any determination shall
be determined by the Option Committee, and any such determination may thereafter be modified by the Option Committee (subject to Section 12). The express grant of any specific power to the Option Committee, and the taking of any action by the
Option Committee, shall not be construed as limiting any power or authority of the Option Committee. The Option Committee may delegate to officers or managers of the Company or any of its Affiliates the authority, subject to such terms as the Option
Committee shall determine, to perform such functions as the Option Committee may determine, to the extent permitted under applicable law. 
 (c) Limitation of Liability. Each member of the Option Committee shall be entitled to rely or act in good faith upon any report or other information furnished to him by any officer or other
employee of the Company or any of its Affiliates, the Company’s independent certified public accountants or any executive compensation consultant, legal counsel or other professional retained by the Company to assist in the administration of
the Plan. To the fullest extent permitted by applicable law, no member of the Option Committee, nor any officer or employee of the Company acting on behalf of the Option Committee, shall be personally liable for any action, determination or
interpretation taken or made in good faith with respect to the Plan, and all members of the Option Committee and any officer or employee of the Company acting on its behalf shall, to the extent permitted by law, be fully indemnified and protected by
the Company with respect to any such action, determination or interpretation. 
 Section 5. Option Terms 

Unless otherwise determined by the Option Committee and set forth in a Grant Certificate, Options granted under the Plan shall contain the
following terms and conditions: 

  
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 (a) Exercise Price. The exercise price per Share subject to an Option granted to an
Employee shall be no less than the Fair Market Value per Share as of the date the Option is granted. 
 (b) Termination.
Options shall terminate on the earliest occurrence of any of the following: 
 (i) termination of Grantee’s
employment by the Company and its Affiliates for Cause; 
 (ii) Grantee’s voluntary termination of
employment with the Company and its Affiliates; 
 (iii) solely with respect to unvested Options, Grantee’s
General Termination; 
 (iv) prior to an IPO, upon the Company’s exercise of an Exercise Right pursuant to
Section 5(c); 
 (v) following an IPO, upon the latest of: 

(1) 90 days following Grantee’s termination of employment with the Company and its Affiliates (one year in case of
termination due to death or disability) and, if Grantee dies following termination while holding a vested Option, one year from date of death, 
 (2) 90 days following consummation of the IPO, or 
 (3) 30 days
following expiration of any applicable underwriter-imposed restriction on the sale of Shares undertaken in connection with an IPO; 
 (vi) the tenth anniversary of the date of grant; and 
 (vii)
cancellation, termination or expiration of the Options pursuant to action taken by the Option Committee in accordance with Section 10. 
 (c) Company Exercise Right. The Company shall have the right (but not the obligation) (an “Exercise Right”) within 180 days following a Grantee’s termination of employment
with the Company and its Affiliates (X) without Cause or (Y) by reason of death or disability, (each, a “General Termination”) prior to an IPO or a similar event to provide that the Grantee’s vested Options shall be
automatically exercised on a stock-settled “stock appreciation right” basis (that is, the Grantee shall be deemed to have received a number of Shares with a Fair Market Value equal to the excess, if any, of the Fair Market Value of the
Shares subject to the vested Options over the exercise price (the “Spread”) on the date of termination), and the Company shall automatically repurchase the Shares deemed to be received through such exercise in exchange for a cash
payment 

  
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equal to the Fair Market Value of such Shares determined on the date of the Exercise Right, as follows: 
 (i) The Grantee shall receive a repurchase payment (the “Repurchase Payment”) equal to the Fair Market Value of 25% of the Shares acquired on such exercise as of the date of the Exercise
Right. 
 (ii) The Grantee shall receive upon each of the three successive anniversaries of the Grantee’s
termination of employment subsequent Repurchase Payments equal to the Fair Market Value of 25% of the Shares acquired on such exercise as of the date of the Exercise Right. 
 The amount of the initial Repurchase Payment (under Section 5(c)(i)) may be increased (and the amount of subsequent Repurchase Payments ratably decreased) in the sole discretion of the Option
Committee in order to insure that the Grantee shall receive sufficient amounts to cover the Grantee’s current tax obligations arising as a result of the exercise of the Option Exercise Right. 

(d) Tax Status. No Option granted under the Plan shall be an incentive stock option under Section 422 of the Code.

 Section 6. Conditions to Exercise of Options 
 (a) Except to the extent otherwise set forth in an applicable Grant Certificate, an Option shall vest (subject to subsequent termination and forfeiture pursuant to Section 5(b)): 

(i) if such Option is granted prior to December 1 of the Company’s Fiscal Year, 20% on the Determination Date
for such Fiscal Year and 
 (ii) if such Option is granted on or after December 1 of the Company’s
Fiscal Year, 20% on the Determination Date for the Company’s Fiscal Year next following the Fiscal Year in which the Option was granted and 
 (iii) 20% on each of the next four Fiscal Year Determination Dates; 
 provided, that
vesting of an Option with respect to any given Fiscal Year shall be subject to Grantee’s continued employment with the Company or an Affiliate on each such Determination Date and subject in each case to the satisfaction of the applicable Annual
Performance Goal with respect to each 20% tranche of such Option; provided further, that if on any of such Determination Dates an Annual Performance Goal is not achieved, and a tranche of the Option therefore does not vest on
such Determination Date, such tranche shall nevertheless vest on a subsequent Determination Date on which an Annual Performance Goal is determined to have been achieved in respect of such subsequent Fiscal Year subject to the following
conditions: (x) the Grantee is still employed by the Company or an Affiliate on such applicable subsequent Determination Date, (y) the Option has not otherwise terminated pursuant to Section 5(b) and (z) no more than one
tranche of the Option may vest on a single Determination Date. For illustrative purposes 

  
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only, and assuming the Grant Certificate does not contain any terms different or inconsistent with the provisions of this Section 6, if the applicable Annual Performance Goal was achieved in
respect of three (but was not achieved in respect of two) of the first five relevant Fiscal Years (either including or excluding the Fiscal Year in which the Option was granted as required by Section 6(a)(i) or 6(a)(ii) as applicable), and the
Grantee was still employed by the Company at such time and the Option had not been terminated pursuant to Section 5(b), then the first of the two tranches of the Option that still remained unvested after the occurrence of the Determination
Dates for such first five Fiscal Years (the “First Unvested Tranche”) shall vest on the first Determination Date to occur for a subsequent Fiscal Year in respect of which an Annual Performance Goal has been achieved (the
“First Catchup Determination Date”), and the second of the two tranches of the Option that still remained unvested after the occurrence of the Determination Dates for such first five Fiscal Years (the “Second Unvested
Tranche”) shall vest on the first Determination Date to occur for a Fiscal Year (subsequent to the Fiscal Year in respect of which the First Unvested Tranche vested) in respect of which an Annual Performance Goal has been achieved (the
“Second Catchup Determination Date”), provided that the conditions described in clauses (x) and (y) of the immediately preceding sentence are satisfied on the First Catchup Determination Date and Second Catchup
Determination Date, respectively. 
 (b) In the event that Grantee is responsible for more than one division, Grantee’s
Options shall vest pro-rata to reflect the achievement of the Annual Performance Goal applicable in respect of each division (or controllable expense) based on Grantee’s allocation of salary, or other allocation as determined by the Option
Committee. 
 (c) If a Grantee experiences a General Termination at a point when at least nine months of a Fiscal Year have
elapsed, the Option Committee (i) shall determine in its sole discretion the extent to which the Grantee’s Annual Performance Goal for the Fiscal Year of the General Termination had been met, based upon annualized results through the date
of the General Termination as determined by the Option Committee based on such audited or unaudited financial information or other information then available as it deems relevant and (ii) cause the Grantee to receive vesting credit to the
extent it determines that such Annual Performance Goal has been achieved. If a Grantee experiences a General Termination at a point when less than nine months of a Fiscal Year have elapsed, the Annual Performance Goal for the Fiscal Year of the
General Termination shall be deemed not to have been met. 
 (d) No Options may be exercised prior to an IPO or another event
following which the Shares are listed and traded on a national securities exchange. Once an Option becomes exercisable, only the vested portion of any Option may be exercised. A Grantee shall exercise an Option by delivery of written notice to the
Company setting forth the number of Shares with respect to which the Option is to be exercised, together with cash, a certified check or bank draft payable to the order of the Company for an amount equal to the sum of the exercise price for such
Shares and any income taxes (subject to Section 6(e)) and/or employment taxes required to be withheld. The Option Committee may, in its sole discretion, permit other forms of payment in a Grant Certificate or otherwise,

  
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including without limitation: (A) notes or other contractual obligations of a Grantee to make payment on a deferred basis, (B) other property having a fair market value on the date of
exercise equal to the exercise price of the Option, (C) if there is a public market for the Shares at such time, by means of a broker-assisted “cashless exercise” pursuant to which the Company is delivered a copy of irrevocable
instructions to a stockbroker to sell the Shares otherwise deliverable upon the exercise of the Option and to deliver promptly to the Company an amount equal to the exercise price of the Option or (D) by means of a “net exercise”
procedure approved by the Option Committee. 
 (e) Before the Company issues any Shares to the Grantee pursuant to the exercise
of an Option, the Company shall have the right to require that the Grantee make such provision, or furnish the Company such authorization, necessary or desirable so that the Company may satisfy its obligation under applicable tax laws to withhold
for income or other taxes due upon or incident to such exercise. The Option Committee, may, in its sole discretion, permit such withholding obligation to be satisfied through the withholding of Shares that would otherwise be delivered upon exercise
of the Option, provided, however, that, the number of Shares so withheld shall not have an aggregate Fair Market Value on the date of such withholding in excess of the minimum required withholding obligation with respect to the
Option. 
 Section 7. Adjustment Upon Changes in Capitalization 

In the event any recapitalization, forward or reverse split, reorganization, merger, consolidation, spin-off, combination, repurchase, or
exchange of Shares or other securities, any stock dividend or other special and nonrecurring dividend or distribution (whether in the form of cash, securities or other property), liquidation, dissolution or other similar transactions or events,
affects the Shares such that an adjustment is appropriate in order to prevent dilution or enlargement of the rights of Grantees under the Plan, then the Option Committee shall make an equitable adjustment in (i) the number and kind of Shares
deemed to be available thereafter for grants of Options under Section 3, (ii) the number and kind of Shares that may be delivered or deliverable in respect of outstanding Options and (iii) the exercise price; provided,
however, that the manner of any such equitable adjustment shall be determined in the sole discretion of the Option Committee. In addition, the Option Committee is authorized to make adjustments in the terms and conditions of, and the criteria
included in, Options (including, without limitation, cancellation of Options in exchange for the in-the-money value, if any, of the vested portion thereof, cancellation for no consideration of unvested and/or out-of-the-money options, substitution
of Options using securities of a successor or other entity, acceleration of the time that Options expire, or adjustment of performance targets) in recognition of unusual or nonrecurring events (including, without limitation, a Change of Control, or
an event described in the preceding sentence) affecting the Company or any Affiliate of the Company or the financial statements of the Company or any Affiliate of the Company, or in response to changes in applicable laws, regulations or accounting
principles. 
 In the event that a recapitalization or similar event results in two or more classes of Shares remaining
outstanding immediately following an IPO, the Options shall be 

  
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automatically adjusted as necessary to ensure that only the publicly-traded class of Shares of MKHL may be acquired upon exercise of an Option. The Option Committee shall make an equitable
adjustment, as determined in its sole discretion, to outstanding Options previously granted hereunder to reflect any amendment to the Plan undertaken upon or following an IPO. 
 Section 8. Effect of Change in Control 
 Upon a Change in Control
occurring prior to an IPO, a Grantee’s Options (whether vested or unvested) shall be automatically exercised on a stock-settled “stock appreciation right” basis (that is, the Grantee shall be deemed to have received a number of shares
of Shares with a Fair Market Value equal to the Spread on the date of the Change in Control), and the Company shall automatically repurchase the Shares deemed to be received through such exercise in exchange for a cash payment equal to the Fair
Market Value of such Shares, as follows: 
 (a) The Grantee shall receive an initial cash payment (the “Initial CIC
Payment”) equal to the Fair Market Value of that portion of the Shares acquired on such exercise attributable to the exercise of the greater of (1) the vested portion of the Grantee’s Options as of the Change in Control and
(2) 50% of the Grantee’s Options; provided, however, that the Initial CIC Payment will be adjusted upwards in the Option Committee’s discretion to ensure that the Grantee receives sufficient amounts to meet tax obligations arising in
respect of the automatic exercise of his Options. 
 (b) The Grantee shall thereafter receive cash payments, ratably on each of
the first three anniversaries of the Change in Control, in an aggregate amount equal to the excess of the Fair Market Value of all the Shares deemed acquired on such exercise over the amount of the Initial CIC Payment. Each payment shall be subject
to continued employment with the Company and its Affiliates at the time of payment. In the event Grantee’s employment with the Company and its Affiliates is terminated without Cause, such payments shall not be forfeited to the extent that
vesting would have occurred (at the time the payment is to be made) in accordance with the vesting schedule at the time the options were granted. 
 (c) If the consideration paid on a Change in Control is in the form of securities and not cash, then payments to Grantees hereunder shall be in the form of such securities, so long as they are marketable
and registered. 
 Section 9. Restrictions on Shares 
 (a) Restrictions on Issuing Shares. No Shares shall be issued or transferred to a Grantee under the Plan unless and until all applicable legal requirements have been complied with to the
satisfaction of the Option Committee. The Option Committee shall have the right to condition the exercise of any Option on the Grantee’s undertaking in writing to comply with such restrictions on any subsequent disposition of the Shares issued
or transferred thereunder as the Option Committee shall deem necessary or 

  
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advisable as a result of any applicable law, regulation, official interpretation thereof, or any underwriting agreement. 
 (b) Post-IPO Restrictions. Options shall remain outstanding upon an IPO and shall be adjusted as the Option Committee deems necessary or appropriate in its sole discretion if common stock other
than the Shares are the subject of the IPO or if the common stock of a legal entity other than MKHL are the subject of the IPO. If so required by an agreement MKHL, the Company or an Affiliate executes with an underwriter in connection with an IPO
(an “Underwriters Agreement”), the transfer, sale or hypothecation of Shares acquired through the exercise of an Option shall be restricted as required to comply with the terms of the Underwriters Agreement. 

Section 10. Misconduct of Grantee 
 Notwithstanding anything to the contrary in the Plan, the Option Committee, in its sole discretion, may establish procedures, at or before the time that an Option is granted (or, with the consent of the
Grantee, after such time), in the applicable Grant Certificate or in a separate agreement, providing for the forfeiture or cancellation of such Option (whether vested or unvested), or the disgorgement of gains from the exercise, vesting or
settlement of the Option, in each case to be applied if the Grantee engages in conduct detrimental to the Company. For purposes of this Plan, conduct detrimental to the Company shall include Grantee’s breaches of any restrictive covenants on
competition, solicitation of employees or clients, or confidential information, and may include conduct that the Option Committee in its sole discretion determines (a) to be injurious or prejudicial to any interest of the Company or any of its
Affiliates, or (b) to otherwise violate a policy, procedure or rule applicable to the Grantee with respect to the Company or any of its Affiliates, or if the Grantee’s employment with the Company and its Affiliates is terminated for Cause.
Notwithstanding any of the foregoing to the contrary, the Company shall retain the right to bring an action at equity or law to enjoin Grantee’s misconduct and recover damages resulting from such misconduct. 

Section 11. General Provisions 
 (a) Each Option shall be evidenced by a Grant Certificate. The terms and provisions of such certificates may vary among Grantees and among different Options granted to the same Grantee. 

(b) The grant of an Option in any year shall not give the Grantee any right to similar grants in future years, any right to continue such
Grantee’s employment relationship with the Company or its Affiliates, or, until such Option is exercised and Shares are issued, any rights as a stockholder of the Company. All Grantees shall remain subject to discharge to the same extent as if
the Plan were not in effect. For purposes of the Plan, a sale of any Affiliate of the Company that employs or engages a Grantee shall be treated as the termination of such Grantee’s employment or engagement. 

(c) No Grantee, and no beneficiary or other persons claiming under or through the Grantee, shall have any right, title or interest by
reason of any Option to any 

  
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particular assets of the Company or Affiliates of the Company, or any Shares allocated or reserved for the purposes of the Plan or subject to any Option except as set forth herein. The Company
shall not be required to establish any fund or make any other segregation of assets to assure satisfaction of the Company’s obligations under the Plan. 
 (d) No Option may be sold, transferred, assigned, pledged or otherwise encumbered, except by will or the laws of descent and distribution, and an Option shall be exercisable during the Grantee’s
lifetime only by the Grantee. Upon a Grantee’s death, the estate or other beneficiary of such deceased Grantee shall be subject to all the terms and conditions of the Plan and Grant Certificate, including the provisions relating to the
termination of the right to exercise the Option. Each Grantee may file with the Option Committee a written designation of one or more persons as the beneficiary(ies) who shall be entitled to receive the amounts payable with respect to an Option, if
any, due under the Plan upon his death. A Grantee may, from time to time, revoke or change his beneficiary designation without the consent of any prior beneficiary by filing a new designation with the Option Committee. The last such designation
received by the Option Committee shall be controlling; provided, however, that no designation, or change or revocation thereof, shall be effective unless received by the Option Committee prior to the Grantee’s death, and in no event shall it be
effective as of a date prior to such receipt. If no beneficiary designation is filed by a Grantee, the beneficiary shall be deemed to be his or her spouse or, if the Grantee is unmarried at the time of death, his or her estate. 

(e) Notwithstanding anything to the contrary in the Plan, any Grant Certificate or any charter, by-laws or other instrument or document
governing or applicable to the Options or Shares, if and to the extent the Option Committee determines that it is necessary to rely on the 12h-1(f) Exemption with respect to the Options outstanding under the Plan, each Option, including any Option
granted prior to, on or after the date of any such determination by the Option Committee, shall be subject to the following conditions: (1) The Options and, prior to exercise, the Shares to be issued upon exercise of the Options shall be
restricted as to transfer by the Grantee other than to persons who are Family Members through gifts or domestic relations orders, or to an executor or guardian of the Grantee upon the death or disability of the Grantee until MKHL becomes subject to
the reporting requirements of Section 13 or Section 15(d) of the Exchange Act or is no longer relying on the 12h-1(f) Exemption; provided that the Grantee may transfer the Options to MKHL, or in connection with a change of control or other
acquisition transaction involving MKHL, if, after such transaction, the Options no longer will be outstanding, and MKHL no longer will be relying on the 12h-1(f) Exemption. (2) In addition, the Options, and the Shares issuable upon exercise of
such Options, will be restricted as to any pledge, hypothecation or other transfer, including any short position, any “put equivalent position” (as defined in Rule 16a-1(h) of the Exchange Act), or any “call equivalent position”
(as defined in Rule 16a-1(b) of the Exchange Act) by the Grantee prior to exercise of an Option, except in the circumstances permitted in clause (1) above, until the Company becomes subject to the reporting requirements of Section 13 or
Section 15(d) of the Exchange Act or is no longer relying on the 12h-1(f) Exemption. 

  
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 (f) Once MKHL is relying on the 12h-1(f) Exemption, until MKHL becomes subject to the
reporting requirements of Section 13 or Section 15(d) of the Exchange Act or is no longer relying on the 12h-1(f) Exemption, MKHL will, subject to the third to last sentence of this Section 11(f), provide to each Grantee the
information described in Rules 701(e)(3), (4) and (5) under the Securities Act (described below), every six months with the financial statements required to be provided thereunder being not more than 180 days old and with such information
provided either by physical or electronic delivery to each Grantee or by written notice to each Grantee of the availability of the information on an Internet site that may be password-protected and of any password needed to access the information.
As of the date of the adoption of this amended and restated Plan, the information described in Rules 701(e)(3), (4), and (5) consists of (1) information about the risks associated with investment in Options and the Shares purchased upon
exercise of an Option and (2) MKHL’s financial statements required to be furnished by Part F/S of Form 1-A under Regulation A of the Securities Act. MKHL may request that the Grantee agree to keep the information to be provided pursuant to
this Section 11(f) confidential and shall not be required to provide such information if a Grantee does not agree to keep the information confidential. It is intended that the provisions of Section 11(e) and 11(f) comply with the 12h-1(f)
Exemption, and such provisions shall be construed and interpreted in a manner consistent with the requirements for compliance with the 12h-1(f) Exemption. The Option Committee may modify or amend the provisions of Section 11(e) and 11(f) (and
any Grant Certificate) as the Company deems necessary or desirable to conform to the requirements of the 12h-1(f) Exemption as it may be revised from time to time. 
 (g) The Plan shall be governed by and construed in accordance with the internal laws of the State of New York. 
 (h) No payment under the Plan shall be taken into account in determining any benefits under any pension, retirement, profit sharing, group insurance or other benefit plan of the Company or any Affiliate
except as otherwise specifically provided in such other plan. 
 (i) For all purposes herein, a person who transfers from
employment or service with the Company to employment or service with an Affiliate or vice versa shall not be deemed to have terminated employment or service with the Company or an Affiliate. 

(j) If any provision of the Plan or any Grant Certificate is or becomes or is deemed to be invalid, illegal, or unenforceable in any
jurisdiction or as to any person or Option, or would disqualify the Plan or any Option under any law deemed applicable by the Option Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot be
construed or deemed amended without, in the determination of the Option Committee, materially altering the intent of the Plan or the Option, such provision shall be stricken as to such jurisdiction, person or Option and the remainder of the Plan and
any such Option shall remain in full force and effect. 

  
 13 

 (k) The obligations of the Company under the Plan shall be binding upon any successor
corporation or organization resulting from the merger, consolidation or other reorganization of the Company, or upon any successor corporation or organization succeeding to substantially all of the assets and business of the Company. 

(l) Notwithstanding any provision of the Plan to the contrary, it is intended that the provisions of the Plan comply with
Section 409A of the Code, and all provisions of the Plan shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A of the Code. Each Optionee is solely responsible
and liable for the satisfaction of all taxes and penalties that may be imposed on or for the account of such Optionee in connection with the Plan or any other Plan maintained by the Company (including any taxes and penalties under Section 409A
of the Code), and neither the Company nor any Affiliate shall have any obligation to indemnify or otherwise hold such Optionee (or any beneficiary) harmless from any or all of such taxes or penalties. Notwithstanding other provisions of the Plan or
any Grant Certificates thereunder, no Option shall be granted, deferred, accelerated, extended, paid out or modified under this Plan in a manner that would result in the imposition of an additional tax under Section 409A of the Code upon a
Grantee. In the event that it is reasonably determined by the Option Committee that, as a result of Section 409A of the Code, payments in respect of any Option under the Plan may not be made at the time contemplated by the terms of the Plan or
the relevant Grant Certificate, as the case may be, without causing the Grantee holding such Option to be subject to taxation under Section 409A of the Code, the Company will make such payment on the first day that would not result in the
Grantee incurring any tax liability under Section 409A of the Code. 
 (m) The titles and headings of the sections in the
Plan are for convenience of reference only, and in the event of any conflict, the text of the Plan, rather than such titles or headings shall control. 
 Section 12. Amendment or Termination 
 The Option Committee may, at any
time, alter, amend, suspend, discontinue or terminate this Plan; provided, however, that, except as provided in Section 7 or 11(f), no such action shall adversely affect the rights of Grantees with respect to Options previously
granted hereunder. 
 Adopted by the Board of Directors 
 of Michael Kors (USA), Inc. on July 7, 2011 

  
 14Form of Indemnification Agreement

 Exhibit 10.5 

 
  

 
 INDEMNIFICATION AGREEMENT

 by and between 
 Michael Kors Holdings Limited 
 and 

[                    ],

 as Indemnitee 
  

 
 Dated as of
[            ], 20[        ] 
  

 
  

 
  

 
  

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 ARTICLE 1 DEFINITIONS
	  	 	2	  
		
	 ARTICLE 2 INDEMNITY IN THIRD-PARTY PROCEEDINGS
	  	 	6	  
		
	 ARTICLE 3 INDEMNITY IN PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY
	  	 	7	  
		
	 ARTICLE 4 INDEMNIFICATION FOR EXPENSES OF A PARTY WHO IS WHOLLY OR PARTLY SUCCESSFUL
	  	 	7	  
		
	 ARTICLE 5 INDEMNIFICATION FOR EXPENSES OF A WITNESS
	  	 	8	  
		
	 ARTICLE 6 ADDITIONAL INDEMNIFICATION, HOLD HARMLESS AND EXONERATION RIGHTS
	  	 	8	  
		
	 ARTICLE 7 CONTRIBUTION IN THE EVENT OF JOINT LIABILITY
	  	 	8	  
		
	 ARTICLE 8 EXCLUSIONS
	  	 	9	  
		
	 ARTICLE 9 ADVANCES OF EXPENSES; SELECTION OF LAW FIRM
	  	 	10	  
		
	 ARTICLE 10 PROCEDURE FOR NOTIFICATION; DEFENSE OF CLAIM; SETTLEMENT
	  	 	11	  
		
	 ARTICLE 11 PROCEDURE UPON APPLICATION FOR INDEMNIFICATION
	  	 	11	  
		
	 ARTICLE 12 PRESUMPTIONS AND EFFECT OF CERTAIN PROCEEDINGS
	  	 	13	  
		
	 ARTICLE 13 REMEDIES OF INDEMNITEE
	  	 	14	  
		
	 ARTICLE 14 SECURITY
	  	 	16	  
		
	 ARTICLE 15 NON-EXCLUSIVITY; SURVIVAL OF RIGHTS; INSURANCE; [PRIMACY OF INDEMNIFICATION]; SUBROGATION
	  	 	16	  
		
	 ARTICLE 16 ENFORCEMENT AND BINDING EFFECT
	  	 	19	  
		
	 ARTICLE 17 MISCELLANEOUS
	  	 	20	  

  
 i 

 INDEMNIFICATION AGREEMENT 

This INDEMNIFICATION AGREEMENT (this “Agreement”) is made as of
[            ], 20[        ], by and among Michael Kors Holdings Limited, a company organized under the laws of the British Virgin
Islands (the “Company”), and [            ] (“Indemnitee”). Capitalized terms used herein and not otherwise defined shall have the respective
meanings set forth in Article 1. 
 WHEREAS, the Company desires to attract and retain the services of highly qualified
individuals, such as Indemnitee, to serve the Company; 
 WHEREAS, in order to induce Indemnitee to provide or continue to
provide services to the Company, the Company wishes to provide for the indemnification of, and advancement of expenses to, Indemnitee to the fullest extent permitted by law; 
 WHEREAS, the Company and Indemnitee further recognize the substantial increase in corporate litigation in general, subjecting directors, officers, employees, agents and fiduciaries to expensive litigation
risks at the same time as the availability and scope of coverage of liability insurance provide increasing challenges for the Company; 
 WHEREAS, in accordance with the BVI Act, the Company’s memorandum and articles of association (as the same may be amended and/or restated from time to time, the “Memorandum and
Articles”) require indemnification of the officers and directors of the Company. The Memorandum and Articles expressly provide that the indemnification provisions set forth therein are not exclusive. The Memorandum and Articles and the BVI
Act contemplate that contracts providing for indemnification may be entered into between the Company and members of the Board, executive officers and other key employees of the Company; 

WHEREAS, this Agreement is a supplement to and in furtherance of the Memorandum and Articles and any resolutions adopted pursuant
thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder (regardless of, among other things, any amendment to or revocation of governing documents or any change in the composition of the
Board or any Corporate Transaction); and 
 WHEREAS, Indemnitee will serve or continue to serve as a director, officer or key
employee of the Company for so long as Indemnitee is duly elected or appointed or until Indemnitee tenders his resignation or is otherwise terminated by the Company. 
 NOW, THEREFORE, in consideration of the promises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows: 

 ARTICLE 1 
 DEFINITIONS 
 As used in this Agreement: 

1.1. “Affiliate” shall have the meaning set forth in Rule 405 under the Securities Act of 1933, as amended (as in
effect on the date hereof). 
 1.2. “Agreement” shall have the meaning set forth in the preamble. 

1.3. “Beneficial Owner” and “Beneficial Ownership” shall have the meaning set forth in Rule 13d-3
under the Exchange Act (as in effect on the date hereof). 
 1.4. “Board” shall mean the Company’s Board
of Directors. 
 1.5. “BVI Act” shall mean the BVI Business Companies Act, 2004, as amended. 

1.6. “BVI Court” shall mean courts of the British Virgin Islands. 

1.7. “Change in Control” shall mean, and shall be deemed to occur upon the earliest to occur after the date of this
Agreement of any of the following events: 
 (a) Acquisition of Shares by Third Party. Any Person (other
than Sportswear Holdings Limited, Michael Kors, John D. Idol, Silas K. F. Chou, Lawrence S. Stroll, any other party to the Voting and Lock-Up Agreement, dated as of July 11, 2011, by and among the Company and the Persons listed on Schedule I
thereto, or any Affiliates of any of the foregoing Persons) is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing more than 30% of the combined voting power of the Company’s then outstanding
Voting Securities, unless (i) the change in the relative Beneficial Ownership of the Company’s securities by any Person results solely from a reduction in the aggregate number of outstanding shares of securities entitled to vote generally
in the election of directors, or (ii) such acquisition was approved in advance by the Continuing Directors and such acquisition would not constitute a Change in Control under part (c) of this definition; 

(b) Change in Board of Directors. Individuals who, as of the date hereof, constitute the Board, and any new
director whose election by the Board or nomination for election by the Company’s shareholders was approved by a vote of at least a majority of the directors then still in office who were directors on the date hereof or whose election or
nomination for election was previously so approved (collectively, the “Continuing Directors”), cease for any reason to constitute at least a majority of the members of the Board; 

  
 2 

 (c) Corporate Transactions. The effective date of a reorganization,
merger or consolidation of the Company (a “Corporate Transaction”), in each case, unless, following such Corporate Transaction: (i) all or substantially all of the individuals and entities who were the Beneficial Owners of
Voting Securities immediately prior to such Corporate Transaction beneficially own, directly or indirectly, more than 51% of the combined voting power of the then outstanding Voting Securities of the Company resulting from such Corporate Transaction
(including, without limitation, a company that as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more Subsidiaries) in substantially the same proportions as
their ownership of Voting Securities immediately prior to such Corporate Transaction; (ii) no Person (excluding any company resulting from such Corporate Transaction) is the Beneficial Owner, directly or indirectly, of 30% or more of the
combined voting power of the then outstanding Voting Securities of the surviving company, except to the extent that such ownership existed prior to such Corporate Transaction; and (iii) at least a majority of the board of directors of the
company resulting from such Corporate Transaction were Continuing Directors at the time of the execution of the initial agreement, or of the action of the Board, providing for such Corporate Transaction; 

(d) Liquidation. The approval by the shareholders of the Company of a complete liquidation of the Company or an
agreement or series of agreements for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than factoring the Company’s current receivables or escrows due (or, if such approval is not required,
the decision by the Board to proceed with such a liquidation, sale, or disposition in one transaction or a series of related transactions); or 
 (e) Other Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or a response to any
similar item on any similar schedule or form) under the Exchange Act, whether or not the Company is then subject to such reporting requirement. 
 1.8. “Company” shall have the meaning set forth in the preamble and shall also include, in addition to the resulting company or other entity, any constituent company (including, without
limitation, any constituent of a constituent) absorbed in a consolidation or merger that, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, employees or agents, so that if Indemnitee is
or was a director, officer, employee or agent of such constituent company, or is or was serving at the request of such constituent company as a director, officer, employee or agent of another company, partnership, joint venture, trust or other
enterprise, Indemnitee shall stand in the same position under the provisions of this Agreement with respect to the resulting or surviving company or other entity as Indemnitee would have with respect to such constituent company if its separate
existence had continued. 

  
 3 

 1.9. “Continuing Directors” shall have the meaning set forth in
Section 1.7(b). 
 1.10. “Corporate Status” shall describe the status as such of a person who is or was a
director, officer, trustee, general partner, managing member, fiduciary, employee or agent of the Company or of any other Enterprise which such person is or was serving at the request of the Company. 

1.11. “Disinterested Director” shall mean a director of the Company who is not and was not a party to the Proceeding in
respect of which indemnification is sought by Indemnitee. 
 1.12. “Enterprise” shall mean the Company and any
other company, constituent company (including, without limitation, any constituent of a constituent) absorbed in a consolidation or merger to which the Company (or any of its wholly owned Subsidiaries) is a party, limited liability company,
partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, trustee, general partner, managing member, fiduciary, employee or agent.

 1.13. “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

1.14. “Expenses” shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of
experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting,
defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, settling or negotiating for the settlement of, responding to or objecting to a request to provide discovery in, or otherwise participating in, any
Proceeding. Expenses also shall include Expenses incurred in connection with any appeal resulting from any Proceeding, including, without limitation, the premium, security for, and other costs relating to any cost bond, supersedeas bond, or other
appeal bond or its equivalent. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments, fines or penalties against Indemnitee. 
 1.15. “Indemnification Arrangements” shall have the meaning set forth in Section 15.2. 
 1.16. “Indemnitee” shall have the meaning set forth in the preamble. 
 1.17. “Indemnitee-Related Entities” shall mean any corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise (other than the
Company, any other Enterprise controlled by the Company or the insurer under and pursuant to an insurance policy of the Company or any such controlled Enterprise) from whom an Indemnitee may be entitled to indemnification or advancement of expenses
with respect to which, in whole or in part, the Company or any 

  
 4 

 
other Enterprise controlled by the Company may also have an indemnification or advancement obligation. 
 1.18. “Independent Counsel” shall mean a law firm, or a member of a law firm, that is of outstanding reputation, experienced in matters of corporation law and neither is as of the date of
selection of such firm, nor has been during the period of three years immediately preceding the date of selection of such firm, retained to represent: (a) the Company or Indemnitee in any material matter (other than with respect to matters
concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements); or (b) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the
term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to
determine Indemnitee’s rights under this Agreement. The Company agrees to pay the reasonable fees and expenses of the Independent Counsel referred to above and to fully indemnify such counsel against any and all Expenses, claims, liabilities
and damages arising out of or relating to this Agreement or its engagement pursuant hereto. For purposes of this definition, a “material matter” shall mean any matter for which billings exceeded or are expected to exceed $100,000.

 1.19. “Memorandum and Articles” shall have the meaning set forth in the recitals. 

1.20. “Person” shall have the meaning set forth in Sections 13(d) and 14(d) of the Exchange Act (as in effect on the
date hereof); provided, however, that the term “Person” shall exclude: (a) the Company; (b) any Subsidiaries of the Company; and (c) any employee benefit plan of the Company or a Subsidiary of the Company or
any trustee or other fiduciary holding securities under an employee benefit plan of the Company or of a Subsidiary of the Company or of a company or other entity owned, directly or indirectly, by the shareholders of the Company in substantially the
same proportions as their ownership of shares of the Company. 
 1.21. “Proceeding” shall include any
threatened, pending or completed action, suit, arbitration, mediation, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, including, without limitation, any
and all appeals, whether brought in the right of the Company or otherwise and whether of a civil (including, without limitation, intentional or unintentional tort claims), criminal, administrative or investigative nature, whether formal or informal,
in which Indemnitee was, is, will or might be involved as a party or otherwise by reason of the fact that Indemnitee is or was a director or officer of the Company, by reason of any action taken by or omission by Indemnitee, or of any action or
omission on Indemnitee’s part while acting as a director or officer of the Company, or by reason of the fact that Indemnitee is or was serving at the request of the Company as a director, officer, trustee, general partner, managing member,
fiduciary, employee or agent of any other Enterprise, in each case whether or not serving in such capacity at the time any liability or expense is incurred for which indemnification, reimbursement, or

  
 5 

 
advancement of expenses can be provided under this Agreement or Section 132 of the BVI Act, including one pending on or before the date of this Agreement but excluding one initiated by
Indemnitee to enforce Indemnitee’s rights under this Agreement or Section 132 of the BVI Act. 
 1.22.
“Section 409A” shall have the meaning set forth in Section 17.2. 
 1.23. “Subsidiary”
with respect to any Person, shall mean any entity of which a majority of the voting power of the voting equity securities or equity interest is owned, directly or indirectly, by that Person. 

1.24. “Voting Securities” shall mean any securities of the Company (or a surviving entity as described in the definition
of a “Change in Control”) that vote generally in the election of directors (or similar body). 
 1.25. References to
“fines” shall include any excise tax or penalty assessed on Indemnitee with respect to any employee benefit plan; references to “other enterprise” shall include employee benefit plans; references to “serving
at the request of the Company” shall include any service as a director, officer, employee, agent or fiduciary of the Company which imposes duties on, or involves services by, such director, officer, employee, agent or fiduciary with respect
to an employee benefit plan, its participants or beneficiaries; and if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan,
Indemnitee shall be deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this Agreement. 
 1.26. The phrase “to the fullest extent not prohibited by (and not merely to the extent affirmatively permitted by) applicable law” shall include, but not be limited to: (a) to the
fullest extent authorized or permitted by the provision of the BVI Act that authorizes or contemplates additional indemnification by agreement, or the corresponding provision of any amendment to or replacement of the BVI Act, and (b) to the
fullest extent authorized or permitted by any amendments to or replacements of the BVI Act adopted after the date of this Agreement that increase the extent to which a company may indemnify its officers and directors. 

ARTICLE 2 

INDEMNITY IN THIRD-PARTY PROCEEDINGS 
 Subject to Article 8, the Company shall indemnify, hold harmless and exonerate Indemnitee in accordance with the provisions of this Article 2 if Indemnitee is, was or is threatened to be
made, a party to or a participant (as a witness or otherwise) in any Proceeding, other than a Proceeding by or in the right of the Company to procure a judgment in its favor. Subject to Article 8, to the fullest extent not prohibited by (and
not merely to the extent affirmatively permitted by) applicable law, Indemnitee shall be indemnified against all Expenses, judgments, fines, penalties and, subject to Section 10.3,

  
 6 

 
amounts paid in settlement actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee
acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal Proceeding, had no reasonable cause to believe that such conduct was unlawful. 

ARTICLE 3 

INDEMNITY IN PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY 

Subject to Article 8, the Company shall indemnify, hold harmless and exonerate Indemnitee in accordance with the provisions of
this Article 3 if Indemnitee is, was or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Company to procure a judgment in its favor. Subject to Article 8, to the fullest extent not
prohibited by (and not merely to the extent affirmatively permitted by) applicable law, Indemnitee shall be indemnified, held harmless and exonerated against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf
in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company. No indemnification for Expenses
shall be made under this Article 3 in respect of any claim, issue or matter as to which Indemnitee shall have been finally adjudged (and not subject to further appeal) by a court of competent jurisdiction to be liable to the Company, except
to the extent that the BVI Court or any court in which the Proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably
entitled to indemnification. 
 ARTICLE 4 
 INDEMNIFICATION FOR EXPENSES OF A PARTY WHO IS WHOLLY OR 
 PARTLY
SUCCESSFUL 
 Notwithstanding any other provisions of this Agreement, to the extent that Indemnitee is a party to (or a
participant in) and is successful, on the merits or otherwise, in any Proceeding or in defense of any claim, issue or matter therein, in whole or in part, the Company shall indemnify, hold harmless and exonerate Indemnitee against all Expenses
actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. For the avoidance of doubt, if Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or
more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify, hold harmless and exonerate Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection
with each resolved claim, issue or matter, whether or not Indemnitee was wholly or partly successful; provided, that Indemnitee shall only be entitled to indemnification for Expenses with respect to unsuccessful claims under this Article
4 to the extent Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best 

  
 7 

 
interests of the Company and, in the case of a criminal Proceeding, had no reasonable cause to believe that such conduct was unlawful. For purposes of this Article 4 and without
limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, or by settlement, shall be deemed to be a successful result as to such claim, issue or matter. 

ARTICLE 5 

INDEMNIFICATION FOR EXPENSES OF A WITNESS 
 Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a witness in any Proceeding to which Indemnitee is not a party,
Indemnitee shall be indemnified, held harmless and exonerated against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. 

ARTICLE 6 

ADDITIONAL INDEMNIFICATION, HOLD HARMLESS AND EXONERATION RIGHTS 

Notwithstanding any limitations in Articles 2, 3 or 4, but subject to Article 8, the Company shall
indemnify, hold harmless and exonerate Indemnitee to the fullest extent not prohibited by (and not merely to the extent affirmatively permitted by) law if Indemnitee is, was or is threatened to be made a party to or a participant in any Proceeding
(including a Proceeding by or in the right of the Company to procure a judgment in its favor) against all Expenses, judgments, fines, penalties and, subject to Section 10.3, penalties and amounts paid in settlement (including all
interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines, penalties and amounts paid in settlement) actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in
connection with the Proceeding. No indemnity shall be available under this Article 6 on account of Indemnitee’s conduct that constitutes a breach of Indemnitee’s duty of loyalty to the Company or its shareholders or is an act or
omission not in good faith or that involves intentional misconduct or a knowing violation of the law. 
 ARTICLE 7

 CONTRIBUTION IN THE EVENT OF JOINT LIABILITY 

7.1. To the fullest extent not prohibited by (and not merely to the extent affirmatively permitted by) law, if the indemnification rights
provided for in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether for
judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, in connection with any Proceeding without requiring Indemnitee to contribute to such payment, and the

  
 8 

 
Company hereby waives and relinquishes any right of contribution it may have at any time against Indemnitee. 
 7.2. The Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such Proceeding) unless such settlement provides for
a full and final release of all claims asserted against Indemnitee and does not include any admission or statement suggesting any wrongdoing or liability on behalf of Indemnitee. 

7.3. The Company hereby agrees to fully indemnify, hold harmless and exonerate Indemnitee from any claims for contribution which may be
brought by officers, directors or employees of the Company (other than Indemnitee) who may be jointly liable with Indemnitee. 

ARTICLE 8 

EXCLUSIONS 
 8.1. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnity, contribution or advancement of Expenses in connection with any claim
made against Indemnitee: 
 (a) [except as provided in Section 15.4,] for which payment has actually been made to or on
behalf of Indemnitee under any insurance policy of the Company or its Subsidiaries or other indemnity provision of the Company or its Subsidiaries, except with respect to any excess beyond the amount paid under any insurance policy, contract,
agreement, other indemnity provision or otherwise; or 
 (b) for an accounting of profits made from the purchase and sale (or
sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of the Exchange Act (or any similar successor statute) or similar provisions of state statutory law or common law; or 

(c) in connection with any Proceeding (or any part of any Proceeding) initiated or brought voluntarily by Indemnitee, including, without
limitation, any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, other than a Proceeding initiated by Indemnitee to enforce its rights under this
Agreement, unless (i) the Board authorized the Proceeding (or any part of any Proceeding) or (ii) the Company provides the indemnification payment, in its sole discretion, pursuant to the powers vested in the Company under applicable law;
or 
 (d) for the payment of amounts required to be reimbursed to the Company pursuant to Section 304 of the Sarbanes-Oxley
Act of 2002, as amended, or any similar successor statute; or 
 (e) for any payment to Indemnitee that is finally determined to
be unlawful under the procedures and subject to the presumptions of this Agreement. 

  
 9 

 The exclusion in Section 8.1(c) shall not apply to counterclaims or affirmative
defenses asserted by Indemnitee in an action brought against Indemnitee. 
 ARTICLE 9 

ADVANCES OF EXPENSES; SELECTION OF LAW FIRM 
 9.1. Subject to Article 8, the Company shall, unless prohibited by applicable law, advance the Expenses incurred by or on behalf of Indemnitee in connection with any Proceeding within ten business
days after the receipt by the Company of a statement or statements requesting such advances, together with a reasonably detailed written explanation of the basis therefor and an itemization of legal fees and disbursements in reasonable detail, from
time to time, whether prior to or after final disposition of any Proceeding. Advances shall be unsecured and interest free. Indemnitee shall qualify for advances, to the fullest extent permitted by applicable law, solely upon the execution and
delivery to the Company of an undertaking providing that Indemnitee undertakes to repay the advance to the extent that it is ultimately determined, by final judicial decision of a court of competent jurisdiction from which there is no further right
to appeal, that Indemnitee is not entitled to be indemnified by the Company under the provisions of this Agreement. This Section 9.1 shall not apply to any claim made by Indemnitee for which an indemnification payment is excluded
pursuant to Article 8. 
 9.2. If the Company shall be obligated under Section 9.1 hereof to pay the Expenses of
any Proceeding against Indemnitee, then the Company shall be entitled to assume the defense of such Proceeding upon the delivery to Indemnitee of written notice of its election to do so. If the Company elects to assume the defense of such
Proceeding, then unless the plaintiff or plaintiffs in such Proceeding include one or more Persons holding, together with his, her or its Affiliates, in the aggregate, a majority of the combined voting power of the Company’s then outstanding
Voting Securities, the Company shall assume such defense using a single law firm selected by the Company representing Indemnitee and other present and former directors or officers of the Company. The retention of such law firm by the Company shall
be subject to prior written approval by Indemnitee, which approval shall not be unreasonably withheld, delayed or conditioned. If the Company elects to assume the defense of such Proceeding and the plaintiff or plaintiffs in such Proceeding include
one or more Persons holding, together with his, her or its Affiliates, in the aggregate, a majority of the combined voting power of the Company’s then outstanding Voting Securities, then the Company shall assume such defense using a single law
firm selected by Indemnitee and any other present or former directors or officers of the Company who are parties to such Proceeding. After (x) in the case of retention of any such law firm selected by the Company, delivery of the required notice to
Indemnitee, approval of such law firm by Indemnitee and the retention of such law firm by the Company, or (y) in the case of retention of any such law firm selected by Indemnitee, the completion of such retention, the Company will not be liable to
Indemnitee under this Agreement for any Expenses of any other law firm incurred by Indemnitee after the date that such first law firm is retained by the Company with respect to the same Proceeding, provided, that in the case

  
 10 

 
of retention of any such law firm selected by the Company (a) Indemnitee shall have the right to retain a separate law firm in any such Proceeding at Indemnitee’s sole expense; and
(b) if (i) the retention of a law firm by Indemnitee has been previously authorized by the Company, (ii) Indemnitee shall have reasonably concluded that there may be a conflict of interest between either (1) the Company and
Indemnitee or (2) Indemnitee and another present or former director or officer of the Company also represented by such law firm in the conduct of any such defense, or (iii) the Company shall not, in fact, have retained a law firm to
prosecute the defense of such Proceeding within thirty days, then the reasonable Expenses of a single law firm retained by Indemnitee shall be at the expense of the Company. 
 ARTICLE 10 
 PROCEDURE FOR NOTIFICATION; DEFENSE OF CLAIM; SETTLEMENT

 10.1. Indemnitee shall, as a condition precedent to Indemnitee’s right to be indemnified under this Agreement, give
the Company notice in writing promptly of any claim made against Indemnitee for which indemnification will or could be sought under this Agreement, provided, however, that a delay in giving such notice shall not deprive Indemnitee of
any right to be indemnified under this Agreement unless, and then only to the extent that, such delay is materially prejudicial to the defense of such claim. The omission or delay to notify the Company will not relieve the Company from any liability
for indemnification which it may have to Indemnitee otherwise than under this Agreement. The Secretary or the Assistant Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise the Board in writing that
Indemnitee has requested indemnification. 
 10.2. The Company will be entitled to participate in the Proceeding at its own
expense. 
 10.3. The Company shall have no obligation to indemnify Indemnitee under this Agreement for any amounts paid in
settlement of any claim effected without the Company’s prior written consent, provided the Company has not breached its obligations hereunder. The Company shall not settle any claim, including, without limitation, any claim in which it takes
the position that Indemnitee is not entitled to indemnification in connection with such settlement, nor shall the Company settle any claim which would impose any fine or any obligation on Indemnitee, without Indemnitee’s prior written consent.
Neither the Company nor Indemnitee shall unreasonably withhold, delay or condition their consent to any proposed settlement. 

ARTICLE 11 

PROCEDURE UPON APPLICATION FOR INDEMNIFICATION 
 11.1. Upon written request by Indemnitee for indemnification pursuant to the first sentence of Section 10.1, a determination, if required by applicable law, with

  
 11 

 
respect to Indemnitee’s entitlement thereto shall be made in the specific case: (a) if a Change in Control shall have occurred, by Independent Counsel in a written opinion to the Board,
a copy of which shall be delivered to Indemnitee; or (b) if a Change in Control shall not have occurred, (i) by a majority vote of the Disinterested Directors (provided there is a minimum of three Disinterested Directors), even though less
than a quorum of the Board, (ii) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors (provided there is a minimum of three Disinterested Directors), even though less than a quorum of the Board,
or (iii) if there are less than three Disinterested Directors or, if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee, and, if it is so determined
that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten business days after such determination. Indemnitee shall cooperate with the person, persons or entity making such determination with respect to
Indemnitee’s entitlement to indemnification, including, without limitation, providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from
disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination, provided, that nothing contained in this Agreement shall require Indemnitee to waive any privilege Indemnitee may have. Any costs or
expenses (including, without limitation, reasonable attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the
determination as to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. 
 11.2. If the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 11.1 hereof, the Independent Counsel shall be selected as provided in this
Section 11.2. If a Change in Control shall not have occurred, the Independent Counsel shall be selected by the Board, and the Company shall give written notice to Indemnitee advising Indemnitee of the identity of the Independent Counsel so
selected. If a Change in Control shall have occurred, the Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board, in which event the preceding sentence shall apply), and
Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel so selected. In either event, Indemnitee or the Company, as the case may be, may, within ten business days after such written notice of
selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel
so selected does not meet the requirements of “Independent Counsel” as defined in Article 1 of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely
objection, the person so selected shall act as Independent Counsel. If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a
court has determined that such objection is without merit. If, within twenty days after submission by Indemnitee of a written request for indemnification pursuant to Section 10.1 hereof, no Independent Counsel shall have been selected and not
objected to, either the Company 

  
 12 

 
or Indemnitee may seek arbitration for resolution of any objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the
appointment as Independent Counsel of a person selected by the arbitrator or by such other person as the arbitrator shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as
Independent Counsel under Section 11.1 hereof. Such arbitration referred to in the previous sentence shall be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association, and
Article 13 hereof shall apply in respect of such arbitration and the Company and Indemnitee. Upon the due commencement of any judicial proceeding pursuant to Section 13.1 of this Agreement, Independent Counsel shall be discharged
and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing). 
 ARTICLE 12 
 PRESUMPTIONS AND EFFECT OF CERTAIN PROCEEDINGS

 12.1. In making a determination with respect to entitlement to indemnification hereunder, the Person making such
determination shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 10.1 of this Agreement. Anyone seeking to overcome this
presumption shall have the burden of proof and burden of persuasion by clear and convincing evidence. Neither the failure of the Company (including by its Board, its Independent Counsel and its shareholders) to have made a determination prior to the
commencement of any action pursuant to this Agreement that indemnification or advancement of expenses is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company (including
by its Board, its Independent Counsel and its shareholders) that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct.

 12.2. If the Person empowered or selected under Article 11 of this Agreement to determine whether Indemnitee is
entitled to indemnification shall not have made a determination within thirty days after receipt by the Company of the request therefor, the requisite determination of entitlement to indemnification shall be deemed to have been made and Indemnitee
shall be entitled to such indemnification, absent (a) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for
indemnification, or (b) a final judicial determination that any or all such indemnification is expressly prohibited under applicable law; provided, however, that such thirty-day period may be extended for a reasonable time, not to
exceed an additional fifteen days, if the Person making the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating
thereto. 

  
 13 

 12.3. The termination of any Proceeding or of any claim, issue or matter therein, by
judgment, order, settlement (with or without court approval), conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of
Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal
Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful. 
 12.4. For purposes
of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if, among other things, Indemnitee’s action is based on the records or books of account of the Enterprise, including financial statements, or on
information supplied to Indemnitee by the directors or officers of the Enterprise in the course of their duties, or on the advice of legal counsel for the Enterprise, its Board, any committee of the Board or any director, or on information or
records given or reports made to the Enterprise, its Board, any committee of the Board or any director, by an independent certified public accountant or by an appraiser or other expert selected with reasonable care by the Enterprise, its Board, any
committee of the Board or any director. The provisions of this Section 12.4 shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee may be deemed or found to have met the applicable standard
of conduct set forth in this Agreement. In any event, it shall be presumed that Indemnitee has at all times acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company. Anyone
seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence. 
 12.5. The knowledge and/or actions, or failure to act, of any other director, officer, trustee, partner, managing member, fiduciary, agent or employee of the Enterprise shall not be imputed to Indemnitee
for purposes of determining the right to indemnification under this Agreement. 
 12.6. The Company acknowledges that a
settlement or other disposition short of final judgment may be successful if it permits a party to avoid expense, delay, distraction, disruption and uncertainty. In the event that any action, claim or proceeding to which Indemnitee is a party is
resolved in any manner other than by adverse judgment against Indemnitee (including, without limitation, settlement of such action, claim or proceeding with or without payment of money or other consideration) it shall be presumed that Indemnitee has
been successful on the merits or otherwise in such action, suit or proceeding. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence. 

ARTICLE 13 

REMEDIES OF INDEMNITEE 
 13.1. In the event that (a) a determination is made pursuant to Article 11 of this Agreement that Indemnitee is not entitled to indemnification under this

  
 14 

 
Agreement, (b) advancement of Expenses, to the fullest extent permitted by applicable law, is not timely made pursuant to Article 9 of this Agreement, (c) no determination of
entitlement to indemnification shall have been made pursuant to Section 11.1 of this Agreement within thirty days after receipt by the Company of the request for indemnification and of reasonable documentation and information which
Indemnitee may be called upon to provide pursuant to Section 11.1, (d) payment of indemnification is not made pursuant to Articles 4, 5, 6, or the last sentence of Section 11.1 of this Agreement
within ten business days after receipt by the Company of a written request therefor, (e) a contribution payment is not made in a timely manner pursuant to Article 7 of this Agreement, or (f) payment of indemnification pursuant
to Article 3 or 6 of this Agreement is not made within ten business days after a determination has been made that Indemnitee is entitled to indemnification, Indemnitee shall be entitled to an adjudication by a court of competent
jurisdiction of Indemnitee’s entitlement to such indemnification, contribution or advancement of Expenses. Alternatively, Indemnitee, at his or her option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the
Commercial Arbitration Rules of the American Arbitration Association. Except as set forth herein, the provisions of British Virgin Islands law (without regard to its conflict of laws rules) shall apply to any such arbitration. The Company shall not
oppose Indemnitee’s right to seek any such adjudication or award in arbitration. The award rendered by such arbitration will be final and binding upon the parties hereto, and final judgment on the arbitration award may be entered in any court
of competent jurisdiction. 
 13.2. In the event that a determination shall have been made pursuant to Section 11.1
of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Article 13 shall be conducted in all respects as a de novo trial, or arbitration, on the merits and
Indemnitee shall not be prejudiced by reason of that adverse determination. In any judicial proceeding or arbitration commenced pursuant to this Article 13, Indemnitee shall be presumed to be entitled to receive advances of Expenses under
this Agreement and the Company shall have the burden of proving Indemnitee is not entitled to indemnification or advancement of Expenses, as the case may be, and the Company may not refer to or introduce into evidence any determination pursuant to
Section 11.1 of this Agreement adverse to Indemnitee for any purpose. If Indemnitee commences a judicial proceeding or arbitration pursuant to this Article 13, Indemnitee shall not be required to reimburse the Company for any
advances pursuant to Article 9 until a final determination is made with respect to Indemnitee’s entitlement to indemnification (as to which all rights of appeal shall have been exhausted or lapsed). 

13.3. If a determination shall have been made pursuant to Section 11.1 of this Agreement that Indemnitee is entitled to
indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Article 13, absent (a) a misstatement by Indemnitee of a material fact, or an omission of a material
fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (b) a prohibition of such indemnification under applicable law. 

  
 15 

 13.4. The Company shall be precluded from asserting in any judicial proceeding or
arbitration commenced pursuant to this Article 13 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound by
all the provisions of this Agreement. 
 13.5. The Company shall indemnify and hold harmless Indemnitee to the fullest extent
permitted by law against all Expenses and, if requested by Indemnitee, shall (within ten days after the Company’s receipt of such written request) pay to Indemnitee, to the fullest extent permitted by applicable law, such Expenses which are
incurred by Indemnitee in connection with any judicial proceeding or arbitration brought by Indemnitee (a) to enforce his rights under, or to recover damages for breach of, this Agreement or any other indemnification, advancement or
contribution agreement or provision of the Memorandum and Articles now or hereafter in effect; or (b) for recovery or advances under any insurance policy maintained by any person for the benefit of Indemnitee, regardless of the outcome and
whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement, contribution or insurance recovery, as the case may be (unless such judicial proceeding or arbitration was not brought by Indemnitee in good faith).

 13.6. Interest shall be paid by the Company to Indemnitee at 2.0% for amounts which the Company indemnifies, or is obliged to
indemnify, for the period commencing with the date on which Indemnitee requests indemnification, contribution, reimbursement or advancement of any Expenses and ending with the date on which such payment is made to Indemnitee by the Company.

 ARTICLE 14 
 SECURITY 
 Notwithstanding anything herein to the contrary, to the extent
requested by Indemnitee and approved by the Board, the Company may at any time and from time to time provide security to Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit, funded trust or other
collateral. Any such security, once provided to Indemnitee, may not be revoked or released without the prior written consent of Indemnitee. 
 ARTICLE 15 
 NON-EXCLUSIVITY; SURVIVAL OF RIGHTS; INSURANCE; [PRIMACY OF

 INDEMNIFICATION]; SUBROGATION 
 15.1. The rights of Indemnitee as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under any applicable law, provision of the
Memorandum and Articles, agreement, resolution of directors, resolution of members or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of

  
 16 

 
Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in Indemnitee’s Corporate Status prior to such amendment, alteration or repeal. To the extent
that a change in applicable law, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently under the Memorandum and Articles or this Agreement, it is the intent of the
parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other right or remedy. 
 15.2. The Company has the capacity under the BVI Act and the Memorandum
and Articles to purchase and maintain insurance or furnish similar protection or make other arrangements, including, but not limited to, providing a trust fund, letter of credit, or surety bond (“Indemnification Arrangements”) on
behalf of Indemnitee against any liability asserted against Indemnitee or incurred by or on behalf of Indemnitee or in such capacity as a director, officer, employee or agent of the Company, or arising out of his or her status as such, whether or
not the Company would have the power to indemnify Indemnitee against such liability under the provisions of this Agreement or under the BVI Act, as it may then be in effect. The purchase, establishment, and maintenance of any such Indemnification
Arrangement shall not in any way limit or affect the rights and obligations of the Company or of Indemnitee under this Agreement except as expressly provided herein, and the execution and delivery of this Agreement by the Company and Indemnitee
shall not in any way limit or affect the rights and obligations of the Company or the other party or parties thereto under any such Indemnification Arrangement. 
 15.3. To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, trustees, partners, managing members, fiduciaries, employees, or
agents of the Company or of any other Enterprise which such person serves at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for
any such director, officer, trustee, partner, managing member, fiduciary, employee or agent under such policy or policies. If, at the time the Company receives notice from any source of a Proceeding as to which Indemnitee is a party or a participant
(as a witness or otherwise), the Company has director and officer liability insurance in effect, the Company shall give prompt notice of the commencement of such Proceeding to the insurers in accordance with the procedures set forth in the
respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies.

 15.4. [The Company hereby agrees (i) that it is the indemnitor of first resort (i.e., its obligations to Indemnitee are
primary and any obligation of the Indemnitee-Related Entities to advance Expenses or to provide indemnification for the 

  
 17 

 
same Expenses or liabilities incurred by Indemnitee are secondary), (ii) that it shall be required to advance the full amount of Expenses incurred by Indemnitee and shall be liable for the
full amount of all Expenses, judgments, penalties, fines and amounts paid in settlement to the extent not prohibited by (and not merely to the extent affirmatively permitted by) applicable law and as required by the terms of this Agreement and the
Memorandum and Articles (or any other agreement between the Company and Indemnitee), without regard to any rights Indemnitee may have against the Indemnitee-Related Entities, and (iii) that it irrevocably waives, relinquishes and releases the
Indemnitee-Related Entities from any and all claims against the Indemnitee-Related Entities for contribution, subrogation or any other recovery of any kind in respect thereof. The Company further agrees that no advancement or payment by the
Indemnitee-Related Entities on behalf of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company shall reduce or otherwise alter the rights of Indemnitee or the obligations of the Company hereunder. In
the event that any of the Indemnitee-Related Entities shall make any advancement or payment on behalf of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company, the Indemnitee-Related Entity making such
payment shall have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of Indemnitee against the Company, and Indemnitee shall execute all papers reasonably required and take all
action reasonably necessary to secure such rights, including, without limitation, execution of such documents as are necessary to enable the Indemnitee-Related Entities to bring suit to enforce such rights. The Company and Indemnitee agree that the
Indemnitee-Related Entities are express third party beneficiaries of the terms of this Section 15.4, entitled to enforce this Section 15.4 as though each of the Indemnitee-Related Entities were a party to this Agreement.]

 15.5. [Except as provided in Section 15.4,] in the event of any payment under this Agreement, the Company shall
be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee [(other than against the Indemnitee-Related Entities)], who shall execute all papers reasonably required and take all action reasonably necessary to secure
such rights, including, without limitation, execution of such documents as are necessary to enable the Company to bring suit to enforce such rights. 
 15.6. [Except as provided in Section 15.4,] the Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder (or for which advancement is
provided hereunder) if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise. 
 15.7. [Except as provided in Section 15.4,] the Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request of the Company as a director,
officer, trustee, partner, managing member, fiduciary, employee or agent of any other Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification payments or advancement of Expenses from such Enterprise.
Notwithstanding any other provision of this Agreement to the contrary, (a) Indemnitee shall have no obligation to reduce, offset, allocate, pursue or apportion any indemnification advancement, contribution or insurance coverage

  
 18 

 
among multiple parties possessing such duties to Indemnitee prior to the Company’s satisfaction and performance of all its obligations under this Agreement, and (b) the Company shall
perform fully its obligations under this Agreement without regard to whether Indemnitee holds, may pursue or has pursued any indemnification, advancement, contribution or insurance coverage rights against any person or entity other than the Company.

 ARTICLE 16 
 ENFORCEMENT AND BINDING EFFECT 
 16.1. The Company expressly confirms and
agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in order to induce Indemnitee to serve or continue to serve as a director, officer or key employee of the Company, and the Company acknowledges that
Indemnitee is relying upon this Agreement in serving or continuing to serve as a director, officer or key employee of the Company. 
 16.2. This Agreement shall be effective as of the date set forth on the first page and may apply to acts or omissions of Indemnitee which occurred prior to such date if Indemnitee was an officer,
director, employee or other agent of the Company, or was serving at the request of the Company as a director, officer, employee or agent of another corporation, limited liability company, partnership, joint venture, trust or other enterprise, at the
time such act or omission occurred. 
 16.3. The Company and Indemnitee agree herein that a monetary remedy for breach of this
Agreement, at some later date, may be inadequate, impracticable and difficult to prove, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the parties hereto agree that Indemnitee may enforce this Agreement by
seeking, among other things, injunctive relief and/or specific performance hereof, without any necessity of showing actual damage or irreparable harm and that by seeking injunctive relief and/or specific performance, Indemnitee shall not be
precluded from seeking or obtaining any other relief to which he may be entitled. The Company and Indemnitee further agree that Indemnitee shall be entitled to such specific performance and injunctive relief, including, without limitation, temporary
restraining orders, preliminary injunctions and permanent injunctions, without the necessity of posting bonds or other undertaking in connection therewith. The Company acknowledges that in the absence of a waiver, a bond or undertaking may be
required of Indemnitee by the Court, and the Company hereby waives any such requirement of such a bond or undertaking. 

  
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 ARTICLE 17 
 MISCELLANEOUS 
 17.1. Successors and Assigns. This Agreement shall
be binding upon the Company and its successors and assigns and shall inure to the benefit of Indemnitee and Indemnitee’s assigns, heirs, executors and administrators. The Company shall require and cause any successor (whether direct or indirect
successor by purchase, merger, consolidation or otherwise) to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and
agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. 
 17.2. Section 409A. It is intended that any indemnification payment or advancement of Expenses made hereunder shall be exempt from Section 409A of the Internal Revenue Code of 1986, as
amended, and the guidance issued thereunder (“Section 409A”) pursuant to Treasury Regulation Section 1.409A-1(b)(10). Notwithstanding the foregoing, if any indemnification payment or advancement of Expenses made hereunder shall
be determined to be “nonqualified deferred compensation” within the meaning of Section 409A, then (i) the amount of the indemnification payment or advancement of Expenses during one taxable year shall not affect the amount of the
indemnification payments or advancement of Expenses during any other taxable year, (ii) the indemnification payments or advancement of Expenses must be made on or before the last day of the Indemnitee’s taxable year following the year in
which the expense was incurred, and (iii) the right to indemnification payments or advancement of Expenses hereunder is not subject to liquidation or exchange for another benefit. 

17.3. Severability. In the event that any provision of this Agreement is determined by a court to require the Company to do or to
fail to do an act which is in violation of applicable law, such provision (including, without limitation, any provision within a single Article, Section, paragraph or sentence) shall be limited or modified in its application to the minimum extent
necessary to avoid a violation of law, and, as so limited or modified, such provision and the balance of this Agreement shall be enforceable in accordance with their terms to the fullest extent permitted by law. 

17.4. Entire Agreement. Without limiting any of the rights of Indemnitee under the Memorandum and Articles as they may be amended
from time to time, this Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto
with respect to the subject matter hereof. 
 17.5. Modification, Waiver and Termination. No supplement, modification,
termination, cancellation or amendment of this Agreement shall be binding unless executed in writing by the parties hereto. No waiver of any of the provisions of 

  
 20 

 
this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement nor shall any waiver constitute a continuing waiver. 

17.6. Notices. All notices, requests, demands and other communications under this Agreement shall be in writing and shall be
deemed to have been duly given (a) if delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, or (b) mailed by certified or registered mail with postage prepaid, on the third
business day after the date on which it is so mailed: 
 (i) If to Indemnitee, at the address indicated on the signature page of
this Agreement, or such other address as Indemnitee shall provide in writing to the Company. 
 (ii) If to the Company, to:

  c/o Michael Kors (USA), Inc. 

 11 West 42nd Street, 28th Floor 
  New York, NY 10036 
  Attn: General Counsel 

 Telephone: (212) 201-8224 
  Facsimile: (646) 354-4824 
 or to any other address as may have been furnished to Indemnitee
in writing by the Company. 
 17.7. Applicable Law. This Agreement and the legal relations among the parties shall be
governed by, and construed and enforced in accordance with, the laws of the British Virgin Islands, without regard to its conflict of laws rules. 
 17.8. Identical Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute
one and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement. 

17.9. Headings. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to
constitute part of this Agreement or to affect the construction thereof. 
 17.10. Representation by Counsel. Each of the
parties has been represented by and has had an opportunity to consult legal counsel in connection with the negotiation and execution of this Agreement. No provision of this Agreement shall be construed against or interpreted to the disadvantage of
any party by any court or arbitrator or any governmental authority by reason of such party having drafted or being deemed to have drafted such provision. 
 17.11. Period of Limitations. No legal action shall be brought and no cause of action shall be asserted by or in the right of the Company against Indemnitee,

  
 21 

 
Indemnitee’s spouse, assigns, heirs, executors or personal or legal representatives after the expiration of two years from the date of accrual of such cause of action, and any claim or cause
of action of the Company shall be extinguished and deemed released unless asserted by the timely filing of a legal action within such two-year period; provided, however, that if any shorter period of limitations is otherwise applicable
to any such cause of action such shorter period shall govern. 
 17.12. Additional Acts. If for the validation of any of
the provisions in this Agreement any act, resolution, approval or other procedure is required, the Company undertakes to cause such act, resolution, approval or other procedure to be affected or adopted in a manner that will enable the Company to
fulfill its obligations under this Agreement. 
 [Signature page follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Indemnity Agreement to be signed as
of the day and year first above written. 
  

			
	COMPANY:
	
	MICHAEL KORS HOLDINGS LIMITED
		
	 By:
	 	  

		 	 Name:

Title:

	
	 INDEMNITEE:

		
	 By:
	 	  

		 	Name:
	
	 Address:

 [Signature page to Indemnification Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00197-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00197-of-00352.parquet"}]]