SEC Contract Filing

Filing Date: 2015-05-27

Document Content:
<DOCUMENT>
<TYPE>EX-10.15
<SEQUENCE>5
<FILENAME>d900571dex1015.htm
<DESCRIPTION>EX-10.15
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.15</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.15 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>FORM OPTION AWARD AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MICHAEL KORS HOLDINGS LIMITED </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OMNIBUS INCENTIVE PLAN </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EMPLOYEE NONQUALIFIED </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>OPTION AWARD AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">THIS NONQUALIFIED OPTION AWARD AGREEMENT (the &#147;<U>Agreement</U>&#148;), dated as of date of grant (the &#147;<U>Date of
Grant</U>&#148;), is made by and between Michael Kors Holdings Limited, a limited liability company under the laws of the British Virgin Islands (the &#147;<U>Company</U>&#148;), and participant (&#147;<U>Participant</U>&#148;). Any capitalized
terms not otherwise defined in this Agreement shall have the definitions set forth in the Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">WHEREAS, the Company has
adopted the Michael Kors Holdings Limited Omnibus Incentive Plan (the &#147;<U>Plan</U>&#148;), pursuant to which Options may be granted; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">WHEREAS, the Committee has determined that it is in the best interests of the Company and its shareholders to grant the Option
provided for herein to Participant subject to the terms set forth herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">NOW, THEREFORE, for and in consideration of the
premises and the covenants of the parties contained in this Agreement, and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto, for themselves, their successors and assigns, hereby agree as
follows: </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><B>1. Grant of Option. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">(a) <U>Grant</U>. The Company hereby grants to Participant an Option (the &#147;<U>Option</U>&#148;) to purchase ordinary
shares, no par value, of the Company (such shares, the &#147;<U>Option Shares</U>&#148;), on the terms and conditions set forth in this Agreement and as otherwise provided in the Plan. The Option is not intended to qualify as an Incentive Share
Option. The Exercise Price, being the price at which Participant shall be entitled to purchase the Option Shares upon the exercise of all or any portion of the Option, shall be exercise price per Option Share. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">(b) <U>Incorporation by Reference, Etc</U>. The provisions of the Plan are hereby incorporated herein by reference. Except as
otherwise expressly set forth herein, this Agreement shall be construed in accordance with the provisions of the Plan and any interpretations, amendments, rules and regulations promulgated by the Committee from time to time pursuant to the Plan. The
Committee shall have final authority to interpret and construe the Plan and this Agreement and to make any and all determinations under them, and its decision shall be binding and conclusive upon Participant and his or her legal representative in
respect of any questions arising under the Plan or this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">(c) <U>Acceptance of Agreement</U>. In order to accept
this Agreement, Participant must indicate acceptance of the Option and acknowledgment that the terms of the Plan and this Agreement have been read and understood by signing and returning a copy of this Agreement, to the General Counsel at Michael
Kors (USA), Inc., 11 West 42nd Street, New York, NY 10036 within 14 days following the date hereof. By accepting this Agreement, Participant consents to the electronic delivery of prospectuses, annual reports and other information required to be
delivered by Securities and Exchange Commission rules (which consent may be revoked in writing by Participant at any time upon three business days&#146; notice to the Company, in which case subsequent prospectuses, annual reports and other
information will be delivered in hard copy to Participant). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><B>2. Vesting. </B>Except as may otherwise be provided herein, subject to
Participant&#146;s continued employment with the Company or a Subsidiary, the Option shall become vested and exercisable with respect to twenty five percent (25%)&nbsp;of the Option Shares on each of the first four anniversaries of the Date of Grant
(each such date, a &#147;<U>Vesting Date</U>&#148;). Any fractional Option Shares resulting from the application of the vesting schedule shall be aggregated and the Option Shares resulting from such aggregation shall vest on the final Vesting Date.
</P> <P STYL