<SEC-DOCUMENT>0001571049-13-000915.txt : 20131008
<SEC-HEADER>0001571049-13-000915.hdr.sgml : 20131008
<ACCEPTANCE-DATETIME>20131008161507
ACCESSION NUMBER:		0001571049-13-000915
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20131004
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20131008
DATE AS OF CHANGE:		20131008

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			G III APPAREL GROUP LTD /DE/
		CENTRAL INDEX KEY:			0000821002
		STANDARD INDUSTRIAL CLASSIFICATION:	APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL [2300]
		IRS NUMBER:				411590959
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-18183
		FILM NUMBER:		131141532

	BUSINESS ADDRESS:	
		STREET 1:		512 SEVENTH AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
		BUSINESS PHONE:		2126298830

	MAIL ADDRESS:	
		STREET 1:		512 SEVENTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ANTE CORP
		DATE OF NAME CHANGE:	19891120
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>t1300491_8k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>CURRENT REPORT<BR>
<BR>
PURSUANT TO SECTION 13 OR 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">Date
of Report (Date of earliest event reported): October </FONT><FONT STYLE="font-weight: normal">4, 2013</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>G-III APPAREL GROUP, LTD.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-weight: normal">(Exact
name of registrant as specified in its charter)</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B></B></P>

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    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Delaware</B></FONT><BR>
<FONT STYLE="font-weight: normal">(State or other jurisdiction</FONT><BR>
<FONT STYLE="font-weight: normal">of incorporation)</FONT></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>0-18183</B></FONT><BR>
<FONT STYLE="font-weight: normal">(Commission File Number)</FONT></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>41-1590959</B></FONT><BR>
<FONT STYLE="font-weight: normal">(IRS Employer</FONT><BR>
<FONT STYLE="font-weight: normal">Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>512 Seventh Avenue</B></P>
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>New
        York, New York</B></FONT><BR>
        <FONT STYLE="font-weight: normal">(Address of principal executive offices)</FONT></P></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>10018</B></FONT><BR>
<FONT STYLE="font-weight: normal">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 24pt 0 12pt; text-align: center"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">Registrant&rsquo;s
telephone number, including area code:</FONT> (212) 403-0500<BR>
<BR>
Not Applicable<BR>
<FONT STYLE="font-weight: normal">(Former name or former address, if changed since last report)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-weight: normal">Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2 below):</FONT></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: normal 10pt Wingdings">&uml;</FONT></TD><TD><FONT STYLE="font-weight: normal">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: normal 10pt Wingdings">&uml;</FONT></TD><TD><FONT STYLE="font-weight: normal">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: normal 10pt Wingdings">&uml;</FONT></TD><TD><FONT STYLE="font-weight: normal">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d 2(b))</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: normal 10pt Wingdings">&uml;</FONT></TD><TD><FONT STYLE="font-weight: normal">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<TD STYLE="width: 9%; text-align: left; vertical-align: top"><B>Item 1.01</B></TD><TD STYLE="width: 1%"></TD><TD STYLE="text-align: justify; width: 90%"><B>Entry into a Material Definitive Agreement.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">On
October </FONT>4, 2013, the Compensation Committee of our Board of Directors granted restricted stock units, pursuant to our Amended
and Restated 2005 Stock Incentive Plan (the &ldquo;2005 Plan&rdquo;), that will enable the following persons to receive shares
of our common stock, subject to satisfaction of specified conditions, as follows: (i) up to 78,000 shares to Morris Goldfarb, our
Chairman, President and Chief Executive Officer, (ii) up to 60,000 shares to Sammy Aaron, our Vice Chairman; (iii) up to 40,000
shares to Wayne S. Miller, our Chief Operating Officer, and (iv) up to 8,000 shares to Neal S. Nackman, our Chief Financial Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
above-named persons will be entitled to receive these shares of our common stock only if (a) the average closing price per share
of our common stock on the Nasdaq Global Select Market over a twenty consecutive trading day period </FONT>(i) during the two years
after the date of grant is at least $59.95(which is 10% above the closing price on the date of grant) or (ii) during the following
three years after the date of grant is at least $62.675 (which is 15% above the closing price on the date of grant) and (b) (i)
the amount of our net income per share on a fully diluted basis as reported in our audited financial statements (&ldquo;Net Income
Per Share&rdquo;) for the fiscal year ending January 31, 2015 or January 31, 2016 is at least 10% greater than the amount of our
Net Income Per Share for the fiscal year ending January 31, 2014 (the &ldquo;2015/2016 Amount&rdquo;), (ii) if the net income-based
performance objective in clause (b)(i) is not satisfied, our Net Income Per Share for the fiscal year ending January 31, 2017 is
at least 5% greater than the 2015/2016 Amount (the &ldquo;2017 Amount&rdquo;), or (iii) if the net income-based performance objective
in clause (b)(i) or (ii) is not satisfied, our Net Income Per Share for the fiscal year ending January 31, 2018 is at least 5%
greater than the 2017 Amount (clauses (a) and (b) together, the &ldquo;Performance Conditions&rdquo;). In addition, the right to
receive these shares of common stock will become vested in four equal annual installments on each of October 5, 2015, 2016, 2017
and 2018 (the &ldquo;Time Vesting Condition&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
the Performance Conditions are both satisfied and the above-named person remain employed by us or otherwise provide service for
us, we will issue to him 25% of the shares of common stock to which he is entitled on each</FONT> of October 5, 2015, 2016, 2017
and 2018, but only if he remains employed by us or otherwise performs service for us on each vesting date. If both Performance
Conditions are not satisfied within the above-described time periods, no shares of common stock will be issued pursuant to the
restricted stock unit grants. If both Performance Conditions are satisfied at any time during the above-reference time periods,
any shares that would have previously satisfied the Time Vesting Condition will be issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The number of shares of common stock
to which the restricted stock units relate and the vesting price will be appropriately adjusted in the event of stock splits, stock
dividends and other extraordinary corporate events.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">A copy of the form of Deferred Stock
Award Agreement for these grants under the 2005 Plan is filed herewith as Exhibit 10.1.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 9%; text-align: left; vertical-align: top"><B>Item 9.01</B></TD><TD STYLE="width: 1%"></TD><TD STYLE="text-align: justify; width: 90%"><B>Financial Statements and Exhibits.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"></P>

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<TD STYLE="width: 9%; text-align: right; vertical-align: top">(d)&nbsp;&nbsp;</TD><TD STYLE="width: 1%"></TD><TD STYLE="text-align: justify; width: 90%">Exhibits</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 9%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.1&nbsp;&nbsp;</FONT></TD><TD STYLE="width: 1%"></TD><TD STYLE="text-align: justify; width: 90%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Deferred Stock Award
Agreement for October </FONT>4, 2013 restricted stock unit grants.</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: left; text-indent: -0.5in">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

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<TR>
    <TD STYLE="vertical-align: top">Date:
October 8, 2013</TD>
    <TD COLSPAN="2">G-III
APPAREL GROUP, LTD.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ Neal S. Nackman</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Name:&#9;Neal S. Nackman<BR>Title:&#9; &nbsp;Chief Financial
    Officer</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">EXHIBIT INDEX</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Exhibit</U></FONT></TD>
    <TD STYLE="width: 85%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Description</U></FONT><BR>
<BR>
</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form of Deferred Stock Award Agreement for October 4, 2013 restricted stock unit grants.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">Exhibit 10.1<B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><B>G-III
Apparel Group, Ltd.<BR>
amended and restated 2005 STOCK INCENTIVE PLAN<BR>
<U>Deferred stock award agreement</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">AGREEMENT, made as of
the 4th day of October, 2013 (the &#8220;Effective Date&#8221;), between G-III APPAREL GROUP, LTD. (the
&#8220;Company&#8221;)
and
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(the &#8220;Grantee&#8221;), pursuant to the G-III Apparel Group, Ltd. Amended and Restated 2005 Stock Incentive Plan (the
&#8220;Plan&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Deferred
Stock Award</U>. The Company hereby grants to the Grantee a deferred stock award under the Plan, consisting of the right to
receive
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of the Company&#8217;s common stock (&#8220;Shares&#8221;) upon the terms and conditions set forth in
this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Vesting Conditions</U>. Subject to attainment of the performance conditions set forth below, the Grantee&#8217;s right to receive
the Shares covered by this Agreement shall become vested in four equal annual installments on each of October 5, 2015, 2016, 2017
and 2018, subject to the Grantee&#8217;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 share price
and net income-based performance objectives shall have been attained:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify">(a) <I>Share Price Condition</I>.
The share price condition is satisfied if either (1) during any period of twenty consecutive trading days beginning subsequent
to the Effective Date and ending on the second anniversary of the Effective Date, the average closing price per share of the Company&#8217;s
common stock is at least 10% greater than the closing price of the Company&#8217;s common stock on the Nasdaq Global Select Market
on the Effective Date (the &#8220;Base Closing Price&#8221;), 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&#8217;s common stock is at least 15% greater than the Base Closing Price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify">(b) <I>Net Income-Based Condition</I>.
The net income-based condition is satisfied if either (1) the amount of the Company&#8217;s net income per share on a fully diluted
basis as reported in its audited financial statements (&#8220;Net Income Per Share&#8221;) for the fiscal year ending January 31,
2015 or January 31, 2016 is at least 10% greater than the</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.5in 12pt; text-align: justify">amount of the Company&#8217;s Net
Income Per Share for the fiscal year ending January 31, 2014 (the &#8220;2015/2016 Amount&#8221;), (2) if the net income-based
performance objective in clause (b)(1) is not satisfied, the Company&#8217;s Net Income Per Share for the fiscal year ending January
31, 2017 is at least 5% greater than the 2015/2016 Amount (the &#8220;2017 Amount&#8221;), or (3) if the net income-based performance
objective in clause (b)(1) or (2) is not satisfied, the Company&#8217;s Net Income Per Share for the fiscal year ending January
31, 2018 is at least 5% greater than the 2017 Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Capital Changes</U>. In the event of a stock dividend, stock split, spin off or other recapitalization with respect to the outstanding
shares of the Company&#8217;s common stock, the Company will make such adjustments to the number of Shares covered by this Agreement
and the targeted stock price 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination of Employment or Service</U>. Upon the termination of the Grantee&#8217;s employment or other service with the Company,
the Grantee&#8217;s right to receive Shares covered by this Agreement, to the extent not previously vested, will thereupon terminate
and be canceled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Issuance of Shares; Rights as a Shareholder</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&#9;<U>General</U>.
If and as soon as practicable after the Grantee&#8217;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&#9;<U>Tax Withholding</U>.
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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&#9;<U>Rights as a Shareholder</U>.
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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restrictions on Transfer</U>. The Grantee&#8217;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No Other Rights Conferred</U>. 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&#8217;s employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Provisions of the Plan Control</U>. 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Successors</U>.
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&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing Law</U>. This Agreement shall be governed by the laws of the State of Delaware, without regard to its principles of
conflict of laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts</U>. 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 3.25in">G-III APPAREL GROUP, LTD.<BR>
<BR>
<BR>
<BR>
By:____________________________________<BR>
<BR>
<BR>
<BR>
_______________________________________<BR>
Grantee</P>

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