EMPLOYMENT CONTRACT

Tommy Hilfiger Europe B.V., having its registered offices in Amsterdam, and having its principal place of business there located at Stadhouderskade 6, hereafter referred to as “TH”,

Daniel Grieder, residing at Amsterdam, p/a Stadhouderskade 6, 1054 ES, hereafter referred to as “the employee”,

The employee will perform duties for TH in the position of Senior VP of Commercial Operations. He will report to the CEO.

The work location of the employee is Amsterdam.

The employee will work eight hours per day, forty hours per week for TH.

After having discussed the matter and under special circumstances the employee will work overtime hours at the discretion of TH. Overtime shall, in principle, not be reimbursed in any form.

The monthly salary of the employee upon entering employment is € 18.750, - gross. The salary will be paid latest on the last day of the month.

The company will apply for the 30% tax ruling on the employee's behalf. The granting of the ruling is subject to the decision of the Dutch tax authorities. Should the ruling be denied, the company will not be liable for any loss of net income the employee may incur.

TH will support the employee in finding suitable accommodation in Amsterdam.

TH will reimburse the expenses of the International School for the children of the employee.

The employee is entitled to a company credit card and a company mobile phone which can be used for business purposes only.

The employee will be able to participate in the TH company savings scheme.

For the performance of the employee’s work, TH provides a lease car to the employee, up to a monthly lease amount of € 1.550,- (excluding petrol), based on the requirements set forth in the lease car user regulations. The employee is also allowed to use this car for private use.

The employee has the right to 25 days paid holiday per year (based on 12 months).

TH is entitled to appoint two mandatory days of holiday per year.

Holiday requests must be done upfront, in writing, and after approval of the manager. TH is entitled to deny the request because of urgent business purposes.

For employees with a salary above the compulsory health insurance income limit, TH has entered into a group health insurance package covering the entire family. For participation in the group health insurance package, TH reimburses 50% of the contribution, irrespective of the chosen coverage or personal liability threshold. This is a taxable benefit.

TH has entered into disability insurance coverage in addition to the WAO (Dutch Disability Insurance Act) for all employees. TH pays 50% of the premium.

The employee will be invited to take part in the pension arrangements of TH.

Both during the term of employment as well as thereafter, regardless of how the term of employment has ended, the employee will be prohibited to share information with third parties regarding business issues concerning TH and/or clients of TH, when the employee should know that TH could be damaged were this information to become known outside the company. This prohibition is expressly not limited to companies in the same field of business as TH. If the employee acts against the confidentiality clause, this will constitute a reason of gross misconduct for TH as indicated in Article 7:678 of the Dutch Civil Code to immediately terminate the employment agreement.

Within the period of one year upon termination of her employment agreement with TH the employee is prohibited to be employed directly or indirectly by a company similar to, or alike or related to TH. It is also prohibited, within a period of one year upon termination, to join clients / relations of TH.

The employee is required to return to the company all materials issued by TH, including all TH belongings (for example, lease car, mobile cellphone, PC, documentation materials, brochures, software, etc.) immediately upon terminating employment with TH.

In the event of a violation of article 7.1 and 7.2, the employee will be liable for a one time penalty, not open to judicial moderation or mitigation, of € 4.600,00 as well as a penalty of € 460,00 for each day the prohibited situation remains, without prejudice to the obligation of the employee to pay a higher amount in compensation when it becomes apparent that the damage suffered by the company is higher than the amounts listed here above.

The first 2 months of the employment agreement serves as a probationary period. During this probationary period, both the employee as well as TH can terminate the employment agreement immediately, at any moment, without explanation.

Both the employee and TH can terminate the employment contract in writing at the end of the calendar month. In this case, both parties must comply with the legal notice period. In the case of TH the legal notice period is one month, unless the employment period was longer than five years, in which case a longer legal notice period applies. For the employee, regardless of the length of employment, the legal notice period is one month.

The employment contract ends without legal notice needing to be given on the day the employee reaches the age of 65.

An indication of your illness

Where can you be reached during the period you are ill.

When you are expecting to recover.

Who internally within the Company or externally needs to be informed.