Document:

EX-10.12

 Exhibit 10.12 
 GLOBAL TRADEMARK PROTECTION AND COOPERATION AGREEMENT 
 This Global
Trademark Protection and Cooperation Agreement (“Agreement”) is entered into effective as of the 15th day of March, 2012 by and between The Talbots Group, Limited Partnership, a Massachusetts limited partnership with its principal place of
business in Hingham, Massachusetts and The Talbots, Inc., a Delaware corporation having its principal place of business in Hingham, Massachusetts and the general partner of The Talbots Group, Limited Partnership (collectively, “Talbots”)
of the first part, and Aeon Co., Ltd., a Japanese corporation, with its principal place of business in Chiba-shi, Chiba, Japan (“Aeon”), of the second part. 
 W I T N E S S E T H : 
 WHEREAS, pursuant to a Trademark Purchase and License Agreement dated November 6, 1993 (the “1993 Agreement”), by and between JUSCO (Europe) B.V., a Netherlands corporation and a
predecessor in interest to Aeon, and The Classics Chicago, Inc., a Delaware corporation and a predecessor in interest to Talbots, the TALBOTS Trademarks, as defined in the 1993 Agreement, and the goodwill of the business associated therewith are
owned exclusively by Aeon in the Asian countries listed in Exhibit 1 hereto (the “Asian Territory”), and exclusively by Talbots in the remainder of the world (“Talbots’ Territory”); 

WHEREAS, the 1993 Agreement grants to Talbots the right and license to manufacture and assemble products bearing the TALBOTS Trademarks
and to distribute TALBOTS catalogs and to make catalog sales of TALBOTS merchandise in the Asian Territory pursuant to the terms and conditions set forth therein, such that Talbots has a business interest in protecting the TALBOTS Trademarks
worldwide; 

  
 1 

 WHEREAS, Aeon has relied upon the fame of the TALBOTS Trademarks created by Talbots in
Talbots’ Territory to register and enforce certain of its trademark rights in the Asian Territory; 
 WHEREAS, the parties
believe that protection, policing and enforcement of the TALBOTS Trademarks on a global basis is fostered by their collaboration and cooperation; 
 WHEREAS, Talbots and Aeon have heretofore cooperated and lent assistance to one another to promote the registration and enforcement of the TALBOTS Trademarks in various countries of interest worldwide;
and 
 WHEREAS, Talbots and Aeon wish to continue to collaborate and cooperate with one another to protect and defend the
TALBOTS Trademarks on a global basis, have reached certain agreements concerning the registration, policing and enforcement of the TALBOTS Trademarks worldwide, and wish to memorialize such agreements and confirm their respective trademark ownership
and registration rights with respect to the TALBOTS Trademarks; 
 NOW THEREFORE, in consideration of the mutual promises herein
contained and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
  

	1.	Acknowledgement of Ownership of TALBOTS Marks 

 (a) Talbots acknowledges and agrees that Aeon owns all right and title to the TALBOTS Trademarks in the Asian Territory, including the right to use and register the TALBOTS Trademarks in the Asian
Territory. 
 (b) Aeon acknowledges and agrees that Talbots owns all right and title to the TALBOTS Trademarks in Talbots’
Territory, including the right to use and register the TALBOTS Trademarks in Talbots’ Territory, and has a non-exclusive license to distribute 

  
 2 

 
TALBOTS catalogs, to make catalog sales, and to manufacture, have manufactured, assemble or have assembled, products bearing the TALBOTS Trademarks in the Asian Territory, in each case, pursuant
to the terms and conditions of the 1993 Agreement. 
 (c) Aeon shall not object to, contest, seek cancellation of, or in any way
interfere with, directly or indirectly, Talbots’ use and/or registration of the TALBOTS Trademarks in Talbots’ Territory. 
 (d) Talbots shall not object to, contest, seek cancellation of, or in any way interfere with, directly or indirectly, Aeon’s use and/or registration of the TALBOTS Trademarks in the Asian Territory.

  

	2.	Cost Sharing for Past Registrations and Past Enforcement Efforts 

 (a) Talbots and Aeon will share equally the costs incurred through February 28, 2011 in connection with: 
 (i) trademark applications filed in China, prosecution efforts in connection with those applications, and registrations issued on such applications; and 

(ii) recent joint policing and enforcement efforts undertaken in Asia, all as indicated in Exhibit 2 hereof. 

(b) Pursuant to Section 2 (a) hereof, Aeon will pay to Talbots the amount of
             promptly following execution of this Agreement. 
 (c)
The parties will not seek reimbursement from each other for any other policing and registration efforts in Asia prior to February 28, 2011, other than as expressly provided in this Agreement. 

  
 3 

	3.	Assignment of Registrations 

 (a) With Aeon’s knowledge and approval, Talbots has heretofore registered or applications are pending for registration in Talbots’ name of the TALBOTS Trademarks owned by Aeon in the following
countries in the Asian Territory: China, Australia and Hong Kong and no other countries in the Asian Territory. A list identifying such registrations and applications is attached hereto as Exhibit 3. 

(b) Talbots agrees to transfer and assign to Aeon all rights and title to the registrations and applications identified in Exhibit 3
hereto promptly following the execution of this Agreement. Aeon will assume responsibility and all costs for instructing, preparing and overseeing the preparation of documentation and the local recordal of the assignments and the prosecution of such
pending applications and maintenance of such registrations. 
 (c) Upon the reasonable request of Aeon, Talbots shall promptly
execute such other documents, including consents, licenses, approvals and acknowledgement of rights, consistent with, and to permit Aeon to effectuate the assignments of the registrations and applications identified in Exhibit 3 hereto. 

 

	4.	Perseus Agreement 

 (a)
Talbots shall, promptly following the execution of this Agreement, use its reasonable best efforts to cause Perseus Company Limited (“Perseus”) to be bound by and subject to terms, conditions, and obligations in favor of Aeon with respect
to the TALBOTS Trademarks owned by Aeon in the Asian Territory that are the same as the terms, conditions, and obligations of Perseus in favor of Talbots with respect to the TALBOTS Trademarks owned by Talbots as set forth in the Co-Existence/Prior
Rights Agreement, dated as of May 4, 2009, between Perseus and The Talbots, Inc. 

  
 4 

	5.	Future Registration Efforts in Asia 

 (a) Aeon does not currently intend to use or register the TALBOTS Trademarks in Afghanistan, Bhutan and North Korea. 
 (b) Aeon hereby assigns to Talbots all rights and title to the TALBOTS Trademarks in Afghanistan, Bhutan and North Korea, including the right to seek such registration and/or protections in Talbots’
name as are afforded under local laws. The Asian Territory and Exhibit 1 hereto are hereby amended to remove such countries from the Asian Territory and to add such countries to Talbots’ Territory. 

(c) Promptly after execution of this Agreement, Talbots shall instruct registration of the TALBOTS Trademarks in Afghanistan, Bhutan and
North Korea in its own name at its expense. 
 (d) Talbots agrees to transfer all rights and title to the TALBOTS Trademarks and
any and all applications or registrations therefor in Afghanistan, Bhutan and North Korea back to Aeon at Aeon’s request and to execute such documents as necessary to effect such a transfer within thirty days of receipt of such documents from
Aeon or its counsel in exchange for reimbursement from Aeon of the reasonable registration and assignment costs incurred by Talbots. 
 (e) For Talbots’ manufacture of product in accordance with the 1993 Agreement, registration of TALBOTS is desired in India, Indonesia, Vietnam, Bangladesh, Cambodia and South Korea in Class 18
(leather handbags and other leather goods), Class 25 (clothing) and Class 35 (retail store, catalog and Internet sales services where permitted under local practice). 
 (f) Promptly after execution of this Agreement, Talbots will instruct its attorneys, Baker Botts LLP, to register the TALBOTS Trademarks in India, Indonesia, Vietnam and Bangladesh Cambodia in Classes 18,
25 and 35 in Aeon’s name and to oversee prosecution of 

  
 5 

 
the applications and maintenance of the registrations. The parties will split equally the costs for filing fees and local counsel fees and Talbots will assume all fees of Baker Botts LLP in
connection with these foregoing registration, prosecution and maintenance activities. 
 (g) Promptly after execution of this
Agreement, Talbots will instruct its attorneys, Baker Botts LLP, at Aeon’s expense, and subject to the following proviso, to register the TALBOTS Trademarks in Aeon’s name, to oversee prosecution of the applications and maintenance of the
registrations in the remaining countries in the Asian Territory: Brunei, Laos, Macau, Mongolia, Nepal, New Zealand, Pakistan, Philippines, Singapore, South Korea and Sri Lanka in Classes 18, 25 and 35 and to effect the publication of cautionary
notices in Myanmar; provided, however, that prior to the commencement of the registration process with respect to TALBOTS Trademarks upon the instruction of TALBOTS in accordance with this Section 5(g), TALBOTS shall cause Baker Botts LLP to
promptly notify Aeon in writing of the undertaking of the registration and the estimates of the legal fees to be incurred pursuant to such registration process, and if Aeon is not satisfied with the estimates submitted by Baker Botts LLP, Aeon can
hire another counsel for such registration process at its sole discretion (in which event Aeon shall not be responsible for any fees of Baker Botts LLP in connection with the relevant registration). 

 

	6.	Future Policing and Enforcement Efforts 

 (a) Each party shall take reasonable steps in accordance with its own business practices to police and enforce its trademark rights in its respective territory. To that end, the parties agree that,
promptly after the execution hereof, Talbots will instruct its attorneys, Baker Botts LLP, to retain or continue appropriate watch services in each party’s respective territory in order to monitor and protect the TALBOTS Trademarks in such
territory. Prior to the 

  
 6 

 
commencement of each watch service in accordance with this Section 6(a), TALBOTS shall cause Baker Botts LLP to promptly notify Aeon in writing of the undertaking of watch service and the
estimates of the legal fee incurred by such service, and if Aeon is not satisfied with the estimates submitted by Baker Botts LLP, Aeon can hire another counsel for such watch service at its sole discretion (in which event Aeon shall not be
responsible for any fees of Baker Botts LLP in connection with the relevant service). Each party reserves the right from time to time, at its sole discretion, to select alternative law firms or other watch services for its respective territory.

 (b) The primary responsibility for such watch services and for routine policing and enforcement, and the costs associated
with those activities, including fees and costs to Baker Botts, LLP, will be borne by the party owning the rights in the given territory; specifically, Aeon in the Asian Territory and Talbots in Talbots’ Territory, provided that, if a party
retains watch services or conducts policing or enforcement activities in the other party’s territory, that party shall be solely responsible for the costs and expenses of those activities in the other party’s territory. 

(c) The parties shall reasonably cooperate with one another and lend such assistance that they believe is reasonably necessary or
appropriate to protect their respective ownership interests in the TALBOTS Trademarks and prevent infringement worldwide. 
 (d)
Where any significant efforts or expenditures are required to police or prosecute any infringement in the Asian Territory where Talbots manufactures products (other than Japan, for which Aeon will retain sole responsibility and cover all costs), or
where the parties jointly determine that policing or enforcement efforts are in both of their interests, after consulting and mutually agreeing in writing on the action to be taken, the parties shall share the costs incurred as they deem appropriate
to the particular circumstances. 

  
 7 

 (e) Where only one party wishes to take action against a perceived infringement in the Asian
Territory, that party may take action it deems appropriate to protect the TALBOTS Trademarks at its own expense and the other party will reasonably cooperate and provide reasonable assistance upon request, including the execution of any documents
required in order to bring any action for enforcement. 
 (f) Aeon shall be solely responsible for its own policing and
enforcement efforts in Japan and shall not be entitled to be reimbursed for any expenses incurred therewith. Talbots shall be solely responsible for its own policing and enforcement efforts in the Talbots’ Territory and shall not be entitled to
be reimbursed for any expenses incurred therewith. 
  

	7.	Other Areas of Cooperation 

 (a) The parties agree that, where required or legally beneficial in a given country, upon the reasonable request of the other party, they will promptly execute such other and further documents evidencing
the rights and benefits conferred by, the 1993 Agreement and this Agreement, such as, for example, the right to manufacture in, import to, or export from, a particular country. 

(b) The parties will agree to take such actions as they determine are commercially reasonable and appropriate to assist one another in
registering and enforcing trademark rights worldwide, including providing evidence of trademark use, distinctiveness, registration and fame and/or which supports a claim of infringement or other wrongdoing against a third party involving the TALBOTS
Trademarks. 

  
 8 

 (c) Talbots will permit Aeon to benefit within its Asian Territory from Talbots’
worldwide fame and goodwill in the TALBOTS Trademarks in connection with the registration and enforcement of the TALBOTS Trademarks in the Asian Territory. 
  

	8.	Governing Law; Choice of Forum: Consent to Jurisdiction. 

 (a) This Agreement shall be governed by, and be construed in accordance with, the laws of the State of New York. 
 (b) All disputes, controversies or claims (“Disputes”) arising out of or relating to this Agreement shall first be settled as far as possible by negotiations between the parties to the Dispute,
in the form of meetings between senior-management level representatives of such parties, upon the written request (a “Request”) by any such party to the other such party. 

(c) If the parties to the Dispute are unable to resolve a Dispute within two weeks after receipt by a party of a Request, then such
Dispute shall be settled as far as possible by negotiations between the parties to the Dispute, in the form of meetings of representative officers (senior vice president or equivalent or above) of such parties. 

(d) All suits, actions or proceedings arising out of or in relation to this Agreement shall be brought in a state or federal court
located in the Borough of Manhattan in The City of New York, State of New York, which courts shall be the exclusive forum for all such suits, actions or proceedings. Each of the parties hereby waives any objection which it may now or hereafter have
to the laying of venue in any such court of any such suit, action or proceeding. 
 (e) Each of the parties hereby irrevocably
submits to the jurisdiction of any state or federal court located in the Borough of Manhattan in The City of New York, State of New York, in any such suit, action or proceeding referred to in Section 8(d) above 

  
 9 

	9.	Miscellaneous 

This Agreement: (a) may be executed in one or more counterparts, and shall become effective as of the date listed above; (b) may
not be amended, modified or waived in whole or in part except by written agreement duly executed by each of the parties; (c) supersedes any and all prior agreements with respect to the subject matter hereof, written and oral, between the
parties; (d) is perpetual unless terminated in writing by all parties; and (e) shall be binding upon and shall inure to the benefit of the parties hereto and their permitted successors, assigns and transferees. For the avoidance of doubt, this
Agreement is limited precisely as written and, other than as expressly provided herein, shall not be deemed to amend, modify or effect any other terms or conditions of the 1993 Agreement, or any rights or obligations of the parties thereto.

 IN WITNESS WHEREOF, this Agreement has been executed by the parties hereto as of the day and year first above written.

  

			
	The Talbots Group, Limited Partnership
		
	By:	 	 /s/ Richard T. O’Connell, Jr.

	Name:	 	Richard T. O’Connell, Jr.
	Title:	 	Vice President And Secretary
	
	The Talbots, Inc.
		
	By:	 	 /s/ Richard T. O’Connell, Jr.

	Name:	 	Richard T. O’Connell, Jr.
	Title:	 	Executive Vice President, Legal And Real Estate
	
	AEON Co., Ltd.
		
	By:	 	 /s/ Masaaki Toyoshima

	Name:	 	Masaaki Toyoshima
	Title:	 	Executive Vice President CEO, Shopping Center Development Business

  
 10 

 (Blank Page) 

  
 11 

 EXHIBIT 1 
 Afghanistan 
 Australia 
 Bangladesh 
 Bhutan 
 Brunei 
 Cambodia 
 China (including People’s Republic of China and Republic of China on Taiwan) 
 Crown Colony
of Hong Kong 
 India 
 Indonesia

 Japan 
 Korea (including North
Korea and Republic of Korea) 
 Laos 

Macau 
 Malaysia 

Mongolia 
 Myanmar (Burma) 

Nepal 
 New Zealand 

Pakistan 
 Philippines 

Singapore 
 Sri Lanka 

Thailand 
 Vietnam 

  
 12Crocs, Inc. 2008 Cash Incentive Plan

 EXHIBIT 10.1 

CROCS, INC. 

2008 CASH INCENTIVE PLAN 
 (As Amended and Restated Effective June 4, 2012) 
 1. Purpose. The
purpose of the Crocs, Inc. 2008 Cash Incentive Plan (the “Plan”) is to advance the interests of Crocs, Inc. (“Crocs”) and its stockholders by promoting Crocs’s pay for performance philosophy,
attracting and retaining key employees of Crocs and its subsidiaries, and stimulating the efforts of such employees toward the continued success and growth of Crocs’s business. Amounts paid pursuant to the Plan are intended to qualify as
“performance-based compensation” within the meaning of Section 162(m) of the Internal Revenue Code of 1986, as amended. 

2. Definitions. When the following terms are used with capital letters in the Plan, they will have the meanings indicated: 

(a) “Award” means an incentive award which, subject to the terms and conditions prescribed by the Committee,
entitles a Participant to receive a cash payment from the Company in accordance with Section 3. 

(b) “Board” means the Board of Directors of Crocs. 

(c) “Code” means the Internal Revenue Code of 1986, as amended. 

(d) “Committee” means the Compensation Committee of the Board or such other committee as may be designated by
the Board to administer the Plan. 
 (e) “Company” means Crocs and its subsidiaries. 

(f) “Covered Officer” means any Participant whose compensation, in the Performance Period for which an the
incentive under the Plan is calculated, is subject to the compensation expense deduction limitations set forth in Section 162(m) of the Code. 
 (g) “Eligible Employee” means any employee of the Company. 
 (h) “Participant” means an Eligible Employee designated by the Committee to participate in the Plan as provided in Section 3.1. Designation by the Committee as a
Participant for a specific Performance Period or series of Performance Periods does not confer on the Participant the right to participate in the Plan for any other Performance Periods. 

(i) “Performance-Based Compensation” means an Award that is intended to constitute “performance-based
compensation” within the meaning of Section 162(m)(4)(C) of the Code and the regulations promulgated thereunder. 

(j) “Performance Measures” means one or a combination of two or more of the following performance criteria:
net sales; net earnings; earnings before income taxes; earnings before interest and taxes; earnings before interest, taxes, depreciation and amortization; earnings per share (basic or diluted); profitability as measured by return ratios (including
return on assets, return on equity, return on investment and return on net sales) or by the degree to which any of the foregoing earnings measures exceed a percentage of net sales; cash flow; market share; margins (including one or more of gross,
operating and net earnings margins); stock price; total stockholder return; asset quality; non-performing assets; revenue growth; operating income; pre- or after-tax income; cash flow per share; operating assets; improvement in or attainment of

 
expense levels or cost savings; economic value added; and improvement in or attainment of working capital levels. In addition, for any Award to a Participant who is not, and is not likely to be
as of the end of the Company’s relevant tax year, a Covered Officer or that is not intended to constitute Performance-Based Compensation, Performance Measures may include, alone or in combination with any of the foregoing Performance Measures,
any other measure of performance as determined by the Committee. Any Performance Measure utilized may be expressed in absolute amounts, on a per share basis, as a change from preceding Performance Periods, as a comparison to the performance of
specified companies or other external measures, and may relate to one or any combination of corporate (including such direct and indirect subsidiaries of the Company as the Committee may determine or on such consolidated basis as the Committee may
determine), group, unit, division, affiliate or individual performance. 
 (k) “Performance Period”
means the period of time specified by the Committee over which the degree of attainment of specified Performance Measures will be measured. 

3. Awards.  

3.1 Allocation of Awards. Prior to the earlier of (i) 90 days following the commencement of a Performance Period or
(ii) the passage of 25 percent of the duration of such Performance Period, the Committee will designate such Eligible Employees as it deems appropriate to participate in the Plan for such Performance Period. The Committee’s designation of
an Eligible Employee as entitled to participate in the Plan may be for a single Performance Period, or for a fixed or indefinite series of future Performance Periods, in its discretion. A designation for more than one Performance Period shall
be subject to the Participant’s continued employment by the Company, and may be rescinded at any time as to future Performance Periods by the Committee. Awards may be granted to a Participant in such amounts and on such terms as may be
determined by the Committee. At the time an Award is made, the Committee will specify the terms and conditions that will govern the Award, which will include that the Award will be earned only upon, and to the extent that, the applicable
Performance measures as described in Section 3.2 are satisfied over the course of the applicable Performance Period. Different terms and conditions may be established by the Committee for different Awards and for different Participants.

 3.2 Performance Measures. The payment of an Award will be contingent upon the degree of attainment of such
Performance Measures over the applicable Performance Period as are specified by the Committee. Performance Measures for any Performance Period will be established by the Committee prior to the earlier of (i) 90 days following the
commencement of the Performance Period or (ii) the passage of 25 percent of the duration of the Performance Period. 

3.3 Adjustments to Performance Measures. The Committee may provide in any Award that any evaluation of performance may
include or exclude any of the following events that occurs during a Performance Period: (i) asset write-downs, (ii) litigation or claim judgments or settlements, (iii) the effect of changes in tax laws, accounting principles, or other
laws or provisions affecting reported results, (iv) any reorganization and restructuring programs, (v) extraordinary nonrecurring items as described in Accounting Principles Board Opinion No. 30 and/or in Management’s Discussion
and Analysis of Financial Condition and Results of Operations appearing in the Company’s annual report to stockholders for the applicable year, (vi) acquisitions or divestitures, (vii) foreign exchange gains and losses, and
(viii) gains and losses on asset sales. To the extent such inclusions or exclusions affect Awards to Covered Employees, they shall be prescribed in a form that satisfies the requirements for “performance-based compensation” within the
meaning of Section 162(m), or any successor provision thereto. 
 The Committee also may, at any time during or after a
Performance Period, in its sole and absolute discretion, modify the Performance Measures applicable to a Performance Period in addition to any adjustments specified for the Performance Period in accordance with the immediately preceding

 
paragraph if it determines that as a result of changed circumstances, such modification is required to reflect the original intent of such Performance Measures. However, no such modification
may be made to the extent it would increase the amount of compensation that would otherwise be payable to any Participant who is a Covered Officer or is likely to be a Covered Officer as of the end of the Company’s relevant tax year.

 3.4 Maximum Amount of Awards. No Participant who is a Covered Officer shall be entitled to receive an Award
payment for any Performance Period that exceeds $8,000,000 for an annual Performance Period or, if the Performance Period is longer or shorter in duration than one year, an amount equal to the product of (i) $2,000,000, multiplied by
(ii) the number of quarters in the Performance Period. 
 3.5 Authority to Reduce or Eliminate Amount of
Award. The Committee is authorized at any time during or after a Performance Period, in its sole and absolute discretion, to reduce or eliminate the amount of an Award otherwise payable to any Participant for any reason. No reduction
in the amount of an Award payable to any Participant shall increase the amount of an Award payable to any other Participant. 

3.6 Payment of Awards. Following the completion of each Performance Period, the Committee shall certify in writing the
degree to which the Performance Measures were attained and the Awards payable to Participants. Each Participant shall receive payment in cash of the Award as soon as practicable following the Committee’s determination and certification
made pursuant to this Section 3.6, but in no event later than March 15 of the calendar year immediately following the last day of the Performance Period to which such payment relates. 

4. Administration.  

4.1 Authority of Committee. The Committee shall administer the Plan. The Committee shall have exclusive power,
subject to the limitations contained in the Plan, to make Awards and to determine when and to whom Awards will be granted, and the form, amount and other terms and conditions of each Award, subject to the provisions of the Plan. The Committee
shall have the authority to interpret the Plan and any Award made under the Plan, to establish, amend, waive and rescind any rules and regulations relating to the administration of the Plan, and to make all other determinations necessary or
advisable for the administration of the Plan. The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award in the manner and to the extent it shall deem desirable. The determinations
of the Committee in the administration of the Plan, as described herein, shall be final, binding and conclusive, subject to the provisions of the Plan. A majority of the members of the Committee shall constitute a quorum for any meeting of the
Committee. 
 4.2 Indemnification. To the greatest extent permitted by law, (i) no member or former member
of the Committee shall be liable for any action or determination taken or made in good faith with respect to the Plan or any Award made under the Plan, and (ii) the members or former members of the Committee shall be entitled to indemnification
by the Company against and from any loss incurred by such members by reason of any such actions and determinations. 
 5. Effective Date
of the Plan. The Plan as amended and restated effective June 4, 2012 shall become effective as of January 1, 2012; provided that the Plan as so amended and restated is approved by Crocs’s stockholders within 12 months of such
date. The Plan shall remain in effect until it has been terminated pursuant to Section 8. 
 6. Right to Terminate
Employment. Nothing in the Plan shall confer upon any Participant the right to continue in the employment of the Company or affect any right which the Company may have to terminate the employment of a Participant with or without cause.

 7. Tax Withholding. The Company shall have the right to withhold from cash payments under
the Plan to a Participant or other person an amount sufficient to cover any required withholding taxes. 
 8. Amendment, Modification
and Termination of the Plan. The Board or Committee may at any time terminate, suspend or modify the Plan and the terms and provisions of any Award to any Participant which has not been paid. Amendments are subject to approval of
Crocs’ stockholders only if such approval is necessary to maintain the Plan in compliance with the requirements of Section 162(m) of the Code, its successor provisions or any other applicable law or regulation. No Award may be granted
during any suspension of the Plan or after its termination. 
 9. Unfunded Plan. The Plan shall be unfunded, and the Company
shall not be required to segregate any assets that may at any time be represented by Awards under the Plan. No Participant shall, by virtue of the Plan, have any interest in any specific assets of the Company. 

10. Other Benefit and Compensation Programs. Neither the adoption of the Plan by the Board nor its submission to the stockholders of the
Company shall be construed as creating any limitation on the power of the Board or Committee to adopt such other incentive arrangements as it may deem appropriate. Payments received by a Participant under an Award made pursuant to the Plan
shall not be deemed a part of a Participant’s regular recurring compensation for purposes of the termination, indemnity or severance pay law of any state and shall not be included in, nor have any effect on, the determination of benefits under
any other employee benefit plan, contract or similar arrangement provided by the Company unless expressly so provided by such other plan, contract or arrangement, or unless the Committee expressly determines otherwise. 

11. Executive Compensation Recovery Policy. For participants subject to the Company’s Recovery of Executive Compensation Policy
(the “Policy”), all amounts earned under the Amended Plan are subject to the Policy, as in effect from time to time, a current copy of which may be requested from the Company at any time, and the terms and conditions of which are hereby
incorporated by reference into the Amended Plan. 
 12. Governing Law. To the extent that Federal laws do not otherwise
control, the Plan and all determinations made and actions taken pursuant to the Plan shall be governed by the laws of the State of Colorado and construed accordingly. 
 13. Other Provisions.  

13.1 Non-transferability. Participants and beneficiaries shall not have the right to assign, pledge or otherwise dispose
of any part of an Award under the Plan. 
 13.2 Termination of Employment. Except as otherwise provided in this
section, no Award shall be paid to a Participant who is not actively employed by the Company as of the end of the applicable Performance Period. If a Participant’s employment with the Company ends during a Performance Period, the Committee
may, in its discretion, determine that the Participant (or his or her beneficiaries) shall be paid a pro rata portion of the Award payment that the Participant would have received but for the fact that the Participant’s employment
ended. Any such pro rated Award payment will be paid at the same time as other Award payments with respect to the applicable Performance Period.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00205-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00205-of-00352.parquet"}]]