Amendment to Line of Credit Agreement between The Bank of New York and Movado Group, Inc.

Summary

This amendment, dated August 5, 2004, is between The Bank of New York and Movado Group, Inc. It extends the expiration date of an existing line of credit to July 31, 2005. All other terms and conditions of the original line of credit agreement remain unchanged and in effect. The amendment is signed by a Vice President of The Bank of New York and addressed to Movado Group, Inc.'s Vice President and Treasurer.

EX-10.1 2 y01610exv10w1.txt AMENDMENT TO LINE OF CREDIT AGREEMENT EXHIBIT 10.1 THE BANK OF NEW YORK 385 RIFLE CAMP ROAD, WEST PATERSON, NJ ###-###-#### August 5, 2004 Mr. Frank V. Kimick Vice President and Treasurer Movado Group, Inc. 650 From Road Paramus, New Jersey 07652 Re: Line of Credit to Movado Group, Inc. (the "Company") Dear Mr. Kimick: Reference is made to the letter dated August 20, 2001 from The Bank of New York (the "Bank") to Kennith C. Johnson concerning the line of credit that the Bank holds available to the Company, as modified by the letter dated August 14, 2002 from the Bank to Eugene J. Karpovich and the letter dated June 17, 2003 from the Bank to you (as so modified, the "Line of Credit Confirmation Letter"). This is to confirm that the date set forth in the second paragraph of the Line of Credit Confirmation Letter has been changed to "July 31, 2005". Except as set forth above, the terms of the Line of Credit Confirmation Letter remain in full force and effect without any other amendment, change or modification. Very truly yours, THE BANK OF NEW YORK By: /s/ Susan M. Graham ------------------------------ Susan M. Graham Vice President