LIZ CLAIBORNE, INC. EXECUTIVE TERMINATION BENEFITS AGREEMENTExecutive Termination Benefits Agreement • July 15th, 2009 • Claiborne Liz Inc • Women's, misses', and juniors outerwear • Delaware
This second amended and restated Executive Termination Benefits Agreement (this “Agreement”), dated as of the 14th day of July, 2009 (the “Effective Date”), is by and between Liz Claiborne, Inc., a Delaware corporation (the “Company”), and William L. McComb (the “Executive”).
Re: Severance Benefits AgreementBenefits Agreement • July 15th, 2009 • Claiborne Liz Inc • Women's, misses', and juniors outerwear • New York
This is your Severance Benefits Agreement (this “Agreement”) with Liz Claiborne, Inc. (the “Company”). It sets forth certain terms and conditions of your continued employment with the Company and its subsidiaries and affiliates from time to time (together, the “Group”) during the term of this Agreement (the “Agreement Term”). This Agreement shall be deemed to extend and renew your term of employment with the Company as its Chief Executive Officer under your Amended and Restated Employment Agreement with the Company dated December 24, 2008 (the “Former Employment Agreement”). This Agreement supersedes the Former Employment Agreement, and all prior agreements, understandings or representations related to your employment and severance arrangements with the Group, other than the Amended and Restated Executive Termination Benefits Agreement dated as of the date of this Agreement (the “Change in Control Agreement”). By entering into this Agreement, you acknowledge that the Former Employment
