Document:

Exhibit 10.1
    

    

    

    
      AMENDMENT TO OFFER LETTER AND ADDENDUM
COMPANY
      POLICIES & CONDITIONS OF EMPLOYMENT
    

    

    

    
      We refer you to that certain offer letter
      between Coach, Inc. (“Coach” or the “Company”) and you, dated as of
      dated as of February 13, 2013, as amended by the amendment dated as of
      June 22, 2015, together with all attachments and exhibits thereto
      (collectively, the “Offer Letter”).  In consideration of your salary
      increase and equity award grant for FY 2017, the terms and conditions
      set forth in this addendum (the “Addendum”) will amend and supersede the
      corresponding terms and conditions set forth in your Offer Letter.  This
      Addendum will become effective as of the date you execute this
      Addendum.  Except as expressly supplemented by this Addendum, the terms
      and conditions of your Offer Letter will remain in full force and
      effect.  Please sign the acknowledgement at the end of this Addendum
      noting your understanding and agreement.
    

    

    

    
      1.  Notice of Intent to Terminate
      Employment
    

    
      The following provision amends and
      supersedes in their entirety (i) the first full paragraph under the
      section heading “Terms and Conditions” in the February 13, 2013 letter
      agreement between you and Coach and (ii) the provision under the section
      heading “Notice of Intent to Terminate Employment” in the June 22, 2015
      amendment between you and Coach.
    

    
      The Company and you agree that, other than
      in connection with a termination of employment by the Company for
      “Cause” (as defined in the Offer Letter) (which will be effective
      immediately), either party will give the other party six (6) months’
      notice of intention to end employment (the “Notice Period”).  After
      either party has provided the required notice and through the end of the
      Notice Period, you will continue to be an employee of Coach and you will
      continue to receive the same base salary as immediately prior to your
      notice (and, if Coach has reduced your base salary during the 60-day
      period immediately prior to the date upon which you provided such
      notice, you will receive the base salary as in effect immediately prior
      to such reduction during the Notice Period).  Your duties and other
      obligations as an employee of Coach will continue during the Notice
      Period and you will be expected to cooperate in the transition of your
      responsibilities. Nothing herein alters your status as an employee
      at-will.  Coach shall, however, have the right in its sole discretion to
      direct that you no longer come to work or to shorten the Notice Period, provided
      that if Coach elects to shorten the Notice Period, Coach will pay you
      compensation in an aggregate amount equal to the sum of (i) your Annual
      Base Salary for the remainder of the Notice Period, and (ii) your Notice
      Period Bonus Amount (as defined below), payable in equal monthly
      installments during the period beginning on the date you or Coach
      provides notice and ending on the 6-month anniversary thereof, in
      addition to any severance benefits set forth above under the section
      heading “Separation” for which you may be eligible (which severance
      benefits will commence immediately following the end of the Notice
      Period).  “Notice Period Bonus Amount” means the annual bonus for the
      remainder of the Notice Period (calculated as 50% of the average of the
      actual percentages of the maximum annual bonus amounts earned with
      respect to the pre-established Coach financial performance goals (but
      not individual or business segment goals) for the three (3) fiscal years
      most-recently completed prior to the termination date and applied to the
      maximum annual bonus amount otherwise payable with respect to the year
      of termination, in each case, less any annual bonus (or portion thereof)
      otherwise paid with respect to the Notice Period).  In the event of your
      resignation without Good Reason (as defined in the Offer Letter), except
      as provided above in connection with a Resignation Without Good Reason
      With Severance, no unvested annual equity awards or annual bonus
      payments will be eligible to vest during the Notice Period unless you
      remain employed by the Company on the applicable vesting date, provided,
      however, in the event Coach elects to shorten the Notice Period, your
      unvested annual equity awards (excluding, for the avoidance of doubt,
      your appointment PRSU grant) will continue to vest through the
      expiration of the Notice Period notwithstanding its earlier termination
      by Coach.  Coach reserves all legal and equitable rights to enforce the
      advance notice provisions of this paragraph. You acknowledge and agree
      that your failure to comply with the notice requirements set forth
      herein shall result in: (i) Coach being entitled to claw back any bonus
      paid to you within 180 days of your last day of employment with Coach,
      (ii) the forfeiture of any unpaid bonus as of your last day of
      employment with Coach, (iii) any unvested restricted stock unit or stock
      option or vested stock option award held by you shall be automatically
      forfeited on your last day of employment with Coach, and (iv) Coach
      being entitled to claw back any Financial Gain (as defined below) you
      realize from the vesting of any Coach equity award within the twelve
      (12) month period immediately preceding your last day of employment with
      Coach. "Financial Gain" shall have the meaning set forth in the various
      equity award grant agreements that you receive during your employment
      with Coach.
    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
      2.  Definition of “Non-Competition
      Period”
    

    
      The reference to “three-month period” in
      clause (ii) of the second sentence of Section 1 of the Restrictive
      Covenants Agreement attached as Exhibit C to your Offer Letter (the
      “Restrictive Covenants Agreement”) shall be to the “six-month period”
      and all references to “three-month Notice period” in clauses (iv) and
      (v) of the second sentence of Section 1 of the Restrictive Covenants
      Agreement shall be to the “Notice Period” (as defined herein).
    

    
      3.  Definition of “Non-Solicitation
      Period”
    

    
      All references to “three-month notice
      period” and “three month Notice period” in the second sentence of
      Section 2 of the Restrictive Covenants Agreement shall be to the “Notice
      Period” (as defined herein).
    

    
      4.  Definition of “Severance Period”
    

    
      The reference to “three-month Notice
      period” in clause (ii)(y) of the second full paragraph under the section
      heading “Separation” in your February 13, 2013 offer letter shall be to
      the “Notice Period” (as defined herein).
    

    
      5.  Definition of “Resignation Without
      Good Reason With Severance”
    

    
      All references to “Notice period” and
      “three-month Notice period” in the first two sentences of the sixth full
      paragraph under the section heading “Separation” in your February 13,
      2013 offer letter shall be to the “Notice Period” (as defined herein).
    

    
      6.  Name of Future Employer
    

    
      You agree that if you are offered and
      desire to accept employment with, or provide consulting services to,
      another business, person or enterprise, including, but not limited to, a
      “competitor,” during the Non-Competition Period, you will promptly
      inform Coach’s Global Human Resources Officer, in writing, of the
      identity of the prospective employer or entity, your proposed title and
      duties with that business, person or enterprise, and the proposed
      starting date of that employment or consulting services.  You also agree
      that you will inform that prospective employer or entity of the terms of
      these provisions.  Failure to abide by the requirements of this
      paragraph will also be deemed a failure to provide the required advance
      written notice set forth above under Notice of Intent to Terminate
      Employment.
    

    
      
        

        

      

      
        
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      If you do not sign and return this
      Addendum, it will be void and without effect and the value of your
      annual equity award grant will be reduced.
    

    

    

    	
          SIGNED FOR COACH
        	
          SIGNED BY VICTOR LUIS
        
	

        	
           
        
	
          
            /s/ Sarah Dunn
          

        	
          
            /s/ Victor Luis
          

        
	

        	
           
        
	
          Sarah Dunn
        	

        
	
          Global HR Officer
        	

        
	
          
            Date: 8/22/16
          

        	
          
            Date: 8/22/16
          

        

    

    

    

    

    

    
      3Exhibit 10.2
    

    

    

    

    

    
      AMENDMENT TO OFFER LETTER AND ADDENDUM
COMPANY
      POLICIES & CONDITIONS OF EMPLOYMENT
    

    

    

    
      We refer you to that certain offer letter
      between Coach Inc. (“Coach”) and you, dated as of January 26, 2015,
      together with all attachments and exhibits thereto (collectively, the
      “Offer Letter”).  In consideration of the increased annual equity award
      grant value for FY 2017, the terms and conditions set forth in this
      addendum (the “Addendum”) will amend the terms and conditions set forth
      in your Offer Letter.  This Addendum will become effective as of the
      date you execute this Addendum.  Except as expressly supplemented by
      this Addendum, the terms and conditions of your Offer Letter will remain
      in full force and effect.  Please sign the acknowledgement at the end of
      this Addendum noting your understanding and agreement.
    

    
      1.  Notice of Intent to Terminate
      Employment
    

    
      The reference to the period of advance
      written notice of your intent to terminate your employment is changed
      from twelve (12) weeks to six (6) months.
    

    
      2.  Garden Leave
    

    
      In the event your employment is terminated
      for any reason (other than for “cause,” as defined in your Offer Letter)
      and Coach, at its sole discretion, elects to enforce its right to enjoin
      you from joining a competitor at any time during the period which you
      are subject to the non-competition covenant set forth in your Offer
      Letter (the “Restricted Period”), including preventing you from engaging
      in any of the activities prohibited by such covenant, Coach shall
      compensate you at your most recent base salary, subject to usual
      withholdings, to be paid monthly, during the remainder of the Restricted
      Period.  The foregoing payments will be made to you solely to the extent
      that severance or other termination payments are not paid to you during
      the remainder of the Restricted Period. Nothing herein shall impact or
      limit your right to receive any severance payments and benefits pursuant
      to the terms of your Offer Letter, except that it is expressly
      understood and agreed that (i) you will not be entitled to receive
      payments pursuant to this paragraph during any period you are receiving
      severance or other termination payments and (ii) your receipt of any
      severance or other termination payments shall not impact Coach’s right
      to enforce its rights under this Section 2 or otherwise.
    

    
      If you do not sign and return this
      Addendum, it will be void and without effect and the value of your
      annual equity award grant will be reduced.
    

    

    

    	
          SIGNED FOR COACH
        	
          SIGNED BY IAN BICKLEY
        
	

        	
           
        
	
          
            /s/ Sarah Dunn
          

        	
          
            /s/ Ian Bickley
          

        
	

        	
           
        
	
          Sarah Dunn
        	

        
	
          Global HR Officer
        	

        
	
          
            Date: 8/22/16
          

        	
          
            Date: 8/22/16

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