SEC Contract Filing

Filing Date: 2015-04-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.25
<SEQUENCE>2
<FILENAME>pvh10k2014ex1025.htm
<DESCRIPTION>EXHIBIT 10.25
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
 <!-- Document created using Wdesk 1 -->
 <!-- Copyright 2015 Workiva -->
 <title>PVH.10K.2014.EX.10.25</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<a name="sA806F94C5D2084B7305956BAE45AA9D9"></a><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:28px;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Exhibit 10.25</font></div><div style="line-height:120%;padding-bottom:28px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">SECOND AMENDED AND RESTATED EMPLOYMENT AGREEMENT</font></div><div style="line-height:120%;padding-bottom:28px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECOND AMENDED AND RESTATED EMPLOYMENT AGREEMENT (&#8220;Agreement&#8221;), effective as of December 16, 2008, between PHILLIPS-VAN HEUSEN CORPORATION, a Delaware corporation (&#8220;PVH&#8221; and, together with its affiliates and subsidiaries, the &#8220;Company&#8221;), and STEVEN B. SHIFFMAN (the &#8220;Executive&#8221;).</font></div><div style="line-height:120%;padding-bottom:28px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">W I T N E S S E T H:</font></div><div style="line-height:120%;padding-bottom:28px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Company and the Executive have previously entered into an Amended and Restated Employment Agreement with the Executive dated as of June 1, 2007 (the &#8220;Existing Agreement&#8221;), and the parties desire to amend and restate the Existing Agreement to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the &#8220;Code&#8221;), and to make certain other changes to the Existing Agreement so as to ensure that the Executive is retained on a full-time basis in accordance with the terms set forth herein.</font></div><div style="line-height:120%;padding-bottom:28px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, the parties hereto hereby agree as follows:</font></div><div style="line-height:120%;padding-bottom:28px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Employment</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;text-align:left;text-indent:84px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Employment</font><font style="font-family:inherit;font-size:12pt;">. The Company agrees to continue to employ the Executive, and the Executive agrees to continue to be employed by the Company, in accordance with the terms and conditions hereof. The Executive shall continue to be an employee at will and this Agreement shall not constitute a guarantee of employment. Each of the parties acknowledges and agrees that either party may terminate the Executive&#8217;s employment at any time, for any reason, with or without Cause (as defined in Section 3(a)). The period commencing on the date hereof and ending on the effective date of the termination of the Executive&#8217;s employment is hereinafter referred to as the &#8220;Employment Period.&#8221;</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:84px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Position and Duties</font><font style="font-family:inherit;font-size:12pt;">. During the Employment Period, the Executive shall serve as Group President, Retail or in such other position or positions as the Company&#8217;s Chief Executive Officer or Board of Directors (which, for purposes of this Agreement, includes any committee thereof, unless the context requires otherwise (the &#8220;Board&#8221;)) may designate from time to time. The Executive shall (i) perform such duties and services as shall from time to time be assigned to him, (ii) devote all of his business time to the services required of him hereunder, excluding any periods of vacation and sick leave to which the Executive is entitled, and (iii) use his best efforts, judgment, skill and energy to perform such duties and services. As used in this Section 1, &#8220;business time&#8221; shall be determined in accordance with the usual and customary standards of the Company.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><hr style="page-break-after:always"><a name="sA806F94C5D2084B7305956BAE45AA9D9"></a><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.&#160;