Document:

Exhibit
10.1 

 

G-III
Apparel Group, Ltd.

amended and restated 2005 STOCK INCENTIVE PLAN

Deferred stock award agreement

 

AGREEMENT, made as
of the 23rd day of October, 2014 (the “Effective Date”), between G-III APPAREL GROUP, LTD. (the “Company”)
and                                                        (the “Grantee”), pursuant to the G-III
Apparel Group, Ltd. Amended and Restated 2005 Stock Incentive Plan (the “Plan”).

 

1.       Deferred Stock
Award. The Company hereby grants to the Grantee a deferred stock award under the Plan, consisting of the right to receive                    shares of the Company’s common stock (“Shares”) upon the terms and conditions set forth in this Agreement.

 

2.       Vesting Conditions.
Subject to attainment of the performance conditions set forth below, the Grantee’s right to receive the Shares covered by
this Agreement shall become vested in four equal annual installments on each of October 5, 2016, 2017, 2018 and 2019, subject to
the Grantee’s continuous employment or other service with the Company through the applicable vesting date. The Grantee shall
have no right to receive any Shares under this Agreement unless and until both of the following performance conditions shall have
been attained:

 

(a) First Performance Condition.
The first performance condition is satisfied if either (1) during any period of twenty consecutive trading days beginning on the
Effective Date and ending on the second anniversary of the Effective Date, the average closing price per share of the Company’s
common stock on the Nasdaq Global Select Market is at least $82.00, or (2) during any period of twenty consecutive trading days
beginning after the second anniversary of the Effective Date and ending on or prior to the fifth anniversary of the Effective Date,
the average closing price per share of the Company’s common stock on the Nasdaq Global Select Market is at least $85.72.

 

(b) Second Performance Condition.
The second performance condition is satisfied if the performance condition in either (b)(1) or (b)(2) is satisfied: (1) (i) the
amount of the Company’s net income per share on a fully diluted basis as reported in its audited financial statements (“Net
Income Per Share”) for the fiscal year ending January 31, 2016 or January 31, 2017 is at least 10% greater than the amount
of the Company’s Net Income Per Share for the fiscal year ending January 31, 2015 (the “2016/2017 Amount”), (ii)
if the net income-based performance objective in clause (b)(1)(i) is not satisfied, the Company’s Net Income Per Share for
the fiscal year ending January 31, 2018 is at least 5% greater
than the 2016/2017 Amount (the “2018 Amount”), or (iii) if the net income-based performance objective in clause (b)(1)(i)
or (ii) is not satisfied, the Company’s Net Income Per Share for the fiscal year ending January 31, 2019 is at least 5% greater
than the 2018 Amount or (2)(i) during any period of twenty consecutive trading days beginning on the Effective Date and ending
on the second anniversary of the Effective Date, the average closing price per share of the Company’s common stock on the
Nasdaq Global Select Market is at least $89.45 or (ii) during any period of twenty consecutive trading days beginning after the
second anniversary of the Effective Date and ending on or prior to the fifth anniversary of the Effective Date, the average closing
price per share of the Company’s common stock on the Nasdaq Global Select Market is at least $93.18.

 

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For the avoidance of doubt, the time-based
vesting percentages will be cumulative prior to the attainment of both performance conditions, such that, if the performance conditions
are attained and the Grantee is then still in the continuous employ or service of the Company, then, upon the attainment of both
performance conditions, the Grantee's vested percentage in the Shares covered by the award will be equal to the vested percentage
that would have been earned as of the date the performance conditions are attained if vesting had been determined as of that date
solely in accordance with the above time-based vesting schedule.

 

3.       Capital Changes.
In the event of a stock dividend, stock split, spin off or other recapitalization with respect to the outstanding shares of the
Company’s common stock, the Company will make such adjustments to the number of Shares covered by this Agreement and the
performance vesting conditions as it deems equitable under the circumstances. The Grantee shall not be credited with or entitled
to receive any cash dividends declared prior to the vesting of Shares.

 

4.       Termination
of Employment or Service. Upon the termination of the Grantee’s employment or other service with the Company, the Grantee’s
right to receive Shares covered by this Agreement, to the extent not previously vested, will thereupon terminate and be canceled.

 

5.       Issuance of
Shares; Rights as a Shareholder.

 

(a)     General.
If and as soon as practicable after the Grantee’s right to receive any Shares becomes vested in accordance with the provisions
hereof, the Company will cause such Shares to be issued and delivered
in certificated or electronic form to the Grantee, subject to the satisfaction of applicable tax withholding requirements.

 

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(b)     Tax Withholding.
The Company shall require as a condition of the issuance of vested Shares under this Agreement that the Grantee remit to the Company
an amount sufficient in the opinion of the Company to satisfy any federal, state and other governmental tax withholding requirements
attributable to the vesting or issuance and delivery of the Shares. In addition, or in the alternative, the Company may satisfy
such tax withholding obligation in whole or in part (up to the minimum required amount) by withholding Shares that would otherwise
be delivered to the Grantee based upon the fair market value of the Shares on the applicable date.

 

(c)     Rights as
a Shareholder. The Grantee shall have no voting or other rights of a shareholder with respect to the Shares unless and until
such Shares are issued to the Grantee in accordance with the provisions hereof.

 

6.       Restrictions
on Transfer. The Grantee’s right to receive Shares under this Agreement may not be sold, assigned, transferred, pledged
or otherwise alienated or disposed of (except by will or the laws of descent and distribution), and may not become subject to attachment,
garnishment, execution or other legal or equitable process, and any attempt to do so shall be null and void.

 

7.       No Other Rights
Conferred. Nothing contained herein shall be deemed to give the Grantee a right to be retained in the employ of the Company
or any affiliate or affect the right of the Company and its affiliates to terminate or amend the terms and conditions of the Grantee’s
employment.

 

8.       Provisions
of the Plan Control. The provisions of the Plan, the terms of which are incorporated in this Agreement, shall govern if and
to the extent that there are inconsistencies between those provisions and the provisions hereof.

 

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9.       Successors.
This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted
assigns. This Agreement, constitutes the entire agreement between the parties with respect to the subject matter hereof and may
not be modified except by written instrument executed by the parties.

 

10.     Governing
Law. This Agreement shall be governed by the laws of the State of Delaware, without regard to its principles of conflict of
laws.

 

11.     Counterparts.
This Agreement may be executed in separate counterparts, each of which will be an original and all of which taken together shall
constitute one and the same agreement.

 

	 	G-III APPAREL GROUP, LTD.
	 	 
	 	 
	 	By:	 
	 	 
	 	 
	 	Grantee

 

    	- 4 -EX-10.6

 Exhibit 10.6 

Execution Version 

MANAGEMENT SERVICES AGREEMENT 

THIS MANAGEMENT SERVICES AGREEMENT (this “Agreement”) is made and entered into as of November 9, 2012 (the
“Effective Date”) between Enviva Holdings, LP, a Delaware limited partnership (together with its successors and assigns, the “Service Provider”) and Enviva, LP, a Delaware limited partnership (together
with its successors, “Enviva”). 
 WHEREAS, Enviva seeks the services of the Service Provider in providing, and the
Service Provider desires to provide, certain management services relating to the affairs of Enviva and the subsidiaries of Enviva; and 

WHEREAS, Enviva and the Service Provider wish to enter into this Agreement in order to govern the terms and conditions of the provision of
such management services; 
 NOW, THEREFORE, in consideration of the services to be rendered by the Service Provider under this Agreement,
and to evidence the obligations of Enviva to the Service Provider and the mutual covenants contained in this Agreement, Enviva and the Service Provider agree as follows: 

1. Engagement. Enviva hereby retains the Service Provider, and the Service Provider hereby agrees, to provide Enviva and its
subsidiaries with general administrative and management services and other similar services as more specifically set forth on Annex A hereto, as such Annex A may be amended and revised from time to time as mutually agreed between Enviva and the
Service Provider (collectively, the “Services”) during the term of this Agreement. The Service Provider may contract with other persons or entities to provide any portion of the Services; provided that the Service
Provider shall not be relieved of its obligations under this Agreement. 
 2. Term; Survival. This Agreement shall be effective as of
the Effective Date and shall continue until the sixth anniversary of the Effective Date (the “Initial Term”). The provisions of Sections 7, 8, 10 and 11 shall survive the termination of this Agreement. 

3. Annual Fee. Except as set forth in Section 5 of this Agreement, as compensation for the Service Provider’s provision of the
Services, Enviva shall pay to the Service Provider an annual fee equal to $7,200,000 (as increased from time to time pursuant to the next sentence of this Section 3, the “Annual Fee”). On January 1st of each year, commencing January 1, 2014, the then-effective Annual Fee shall be multiplied by 102%. The Annual Fee shall be payable in equal quarterly installments (pro-rated for
partial quarters) in advance on the Effective Date and on the first business day of each January, April, July and October thereafter by wire transfer in immediately available funds to the account of the Service Provider identified by the Service
Provider to Enviva from time to time. Once paid, the Annual Fee shall not be refundable under any circumstances. 
 4. Reimbursement of
Expenses. Except as set forth in Section 5 of this Agreement, in addition to the Annual Fee, Enviva shall reimburse the Service Provider for all direct or indirect costs and expenses incurred by, or chargeable to, the Service Provider in
connection with the Services, including, without limitation: (x) the portion of the salary and benefits of employees engaged in providing the Services reasonably allocable to the provision of the

 
Services, (y) the charges and expenses of any third party retained by the Service Provider to provide any portion of the Services and (z) office rent and expenses and other overhead
costs of the Service Provider incurred in connection with, or reasonably allocable to, providing the Services (collectively, “Reimbursable Expenses”). The Reimbursable Expenses shall be invoiced monthly and shall be payable
within thirty (30) days after the date of such invoice. Notwithstanding the foregoing, the aggregate Reimbursable Expenses shall not exceed the Reimbursable Expenses Limit in any calendar year. For purposes of this Section 4,
“Reimbursable Expenses Limit” means $3,000,000 in any calendar year (as increased from time to time pursuant to the next sentence of this Section 4). On
January 1st of each year, commencing January 1, 2014, the then-effective Reimbursable Expenses Limit shall be multiplied by 102%. 

5. 2012 Annual Fee and Reimbursable Expenses. Notwithstanding any other provision of this Agreement, the Annual Fee and Reimbursable
Expenses earned or incurred, as applicable, for the period commencing on the Effective Date and ending on December 31, 2012, shall not exceed, in the aggregate, $2,200,000. 

6. Construction Management Fee. In addition to the Annual Fee and the Reimbursable Expenses, as compensation for the Service
Provider’s provision of certain construction management services, Enviva shall pay to the Service Provider an aggregate fee of $2,200,000 for the period commencing on the Effective Date and ending on December 31, 2013 (the
“Construction Management Fee”). The Construction Management Fee shall be payable in equal quarterly installments (pro-rated for partial quarters) in advance on the Effective Date and on the first business day of January,
April, July and October 2013 by wire transfer in immediately available funds to the account of the Service Provider identified by the Service Provider to Enviva from time to time. Once paid, the Construction Management Fee shall not be refundable
under any circumstances. 
 7. Independent Contractor. The Service Provider shall for all purposes of this Agreement be an independent
contractor, and not an agent or employee of Enviva. The Service Provider shall have no authority to act for, represent, bind or obligate Enviva pursuant to this Agreement. This Agreement shall not be construed for any purposes to create any joint
venture or partnership among Enviva and the Service Provider. 
 8. Governing Law. This Agreement shall be governed by and construed
in accordance with the laws of the State of New York. 
 9. Assignment. This Agreement and all provisions contained in this Agreement
shall be binding upon and inure to the benefit of the parties to this Agreement and their respective successors and assigns; provided, however, that neither this Agreement nor any of the rights, interests, or obligations hereunder of either
party hereto shall be assigned by either of the parties hereto without the prior written consent of the other party, except that Enviva may collaterally assign its rights, interests and obligations hereunder to any financing party (or its agent)
providing debt financing to Enviva. 

 10. Indemnity; Limitation of Liability. Enviva shall indemnify and hold harmless the
Service Provider and its employees, partners, affiliates, shareholders, directors and agents against all losses, actions, proceedings, claims, demands, costs, damages, expenses and liabilities whatsoever which may be brought against them due to this
Agreement, and against and in respect of all costs and expenses (including legal costs and expenses on a full indemnity basis) they may suffer or incur due to defending or settling same; provided, however, that such indemnity shall exclude
any or all losses, actions, proceedings, claims, demands, costs, damages, expenses and liabilities whatsoever which may be caused by or due to the fraud, gross negligence or willful misconduct of the Service Provider. Notwithstanding any provision
of this Agreement to the contrary, in no event shall the liability of the Service Provider under this Agreement exceed the Annual Fee. 
 11.
NO CONSEQUENTIAL DAMAGES. NEITHER THE SERVICE PROVIDER NOR ANY OF ITS EMPLOYEES, PARTNERS, AFFILIATES, SHAREHOLDERS, DIRECTORS OR AGENTS SHALL BE LIABLE FOR INDIRECT, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES WITH RESPECT TO ANY TERM OR
THE SUBJECT MATTER OF THIS AGREEMENT, EVEN IF INFORMED OF THE POSSIBILITY THEREOF IN ADVANCE. THIS LIMITATION APPLIES TO ALL CAUSES OF ACTION, INCLUDING, WITHOUT LIMITATION, BREACH OF CONTRACT, BREACH OF WARRANTY, NEGLIGENCE, STRICT LIABILITY,
FRAUD, MISREPRESENTATION AND OTHER TORTS. 
 12. Surrender of Books and Records. Upon termination of this Agreement, the Service
Provider shall forthwith surrender to Enviva any and all books, records, documents and other property in the possession or control of the Service Provider relating to this Agreement and the Services. 

13. Entire Agreement; Amendments. This Agreement contains the entire understanding of the parties to this Agreement with respect to its
subject matter and supersedes any and all prior agreements with respect to such subject matter, and neither it nor any part of it may in any way be altered, amended, extended, waived, discharged or terminated except by a written agreement signed by
each of the parties hereto. 
 14. Waivers. Either party to this Agreement may, by written notice to the other party, waive any
provision of this Agreement. The waiver by any party of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach. 

15. Counterparts. This Agreement may be executed in one or more counterparts (including facsimile counterparts), each of which shall be
deemed to be an original, but all of which together shall constitute one and the same Agreement. Delivery of a copy of this Agreement bearing an original signature by facsimile transmission or by electronic mail shall have the same effect as
physical delivery of the paper document bearing the original signature. 
 [Signature page follows] 

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

			
	ENVIVA HOLDINGS, LP
		
	By:	 	 /s/ Stephen Reeves

	 Name:
	 	Stephen Reeves
	 Title:
	 	Executive Vice President and CFO
	
	ENVIVA, LP
		
	By:	 	 /s/ Stephen Reeves

	 Name:
	 	Stephen Reeves
	 Title:
	 	Executive Vice President and CFO

 SIGNATURE PAGE TO 

MANAGEMENT SERVICES AGREEMENT 

 ANNEX A 

SERVICES 
 Overall Corporate Governance 

Finance, Treasury, Accounting and Auditing 
 Information
Services 
 Human Resource Management, Benefits Design and Administration and Recruitment 

Legal Services 
 Sales 

Customer Relations 
 Sustainability Tracking and Management 

Marketing 
 Shipping Management 

Quality Control 
 Engineering 

Construction Management 
 Direct and Indirect Procurement 

Operations Management 
 Logistics

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