{"id":39659,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/employment-agreement-tommy-hilfiger-usa-inc-and-joel-horowitz.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-tommy-hilfiger-usa-inc-and-joel-horowitz","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-tommy-hilfiger-usa-inc-and-joel-horowitz.html","title":{"rendered":"Employment Agreement &#8211; Tommy Hilfiger USA Inc. and Joel Horowitz"},"content":{"rendered":"<pre>\n                              AMENDMENT NO. 2 TO\n                   AMENDED AND RESTATED EMPLOYMENT AGREEMENT\n                   -----------------------------------------\n\n\n          AMENDMENT NO. 2 (this 'Amendment'), dated as of the 7th day of August,\n1998, to that certain Amended and Restated Employment Agreement, dated as of\nJune 30, 1992, as amended as of March 8, 1994 (the 'Employment Agreement'),\nbetween Tommy Hilfiger U.S.A., Inc., a Delaware corporation (the 'Company'), and\nJoel Horowitz ('Horowitz').\n\n          WHEREAS, the parties wish to amend certain provisions of the\nEmployment Agreement;\n\n          NOW, THEREFORE, in consideration of the premises and the mutual\nagreements hereinafter set forth, the parties hereto agree as follows:\n\n          1.   Section 1 of the Employment Agreement is hereby amended to read\nas follows:\n\n               1.  Term.  The Company agrees to employ Horowitz, and Horowitz\n                   ----                                                      \n          agrees to serve the Company, for a term (the 'Term') ending on March\n          31, 2004.\n\n          2.   Section 4(a) of the Employment Agreement is hereby amended to\nread as follows:\n\n               (a) During Horowitz's employment hereunder, the Company shall pay\n          to Horowitz a base salary for the fiscal year ending March 31, 1993 at\n          the rate of $350,000 per year, which amount shall be increased on\n          April 1 of each subsequent year by a percentage equal to the average\n          percentage salary increase for all employees of the Company (the 'Base\n          Amount').  In no event shall the Base Amount be reduced.  The Base\n          Amount shall be paid to Horowitz in twenty-four equal semi-monthly\n          installments.\n\n          3.   Section 13 of the Employment Agreement is hereby amended by\ndeleting the words 'one year' in the second line thereof and substituting, in\nlieu thereof, the words 'two years'.\n\n          4.   Conditions of Effectiveness.  This Amendment shall become\n               ---------------------------                              \neffective, as of the date hereof, upon the approval by the shareholders of Tommy\nHilfiger Corporation of the renewal of the Tommy Hilfiger U.S.A., Inc.\nSupplemental Executive Incentive Compensation Plan for a term to expire no\nearlier than April 1, 2004.\n\n \n          5.   Entire Agreement; Amendment.  The Employment Agreement, as\n               ---------------------------                               \namended by this Amendment, supersedes all prior agreements between the parties\nwith respect to its subject matter, is intended (with the documents referred to\nherein and therein) as a complete and exclusive statement of the terms of the\nagreement between the parties with respect thereto and may be amended only by a\nwriting signed by both parties hereto.\n\n          6.  Waiver.  The execution, delivery and performance of this Amendment\n              ------                                                            \nshall not, except as expressly provided herein, constitute a waiver of any\nprovision of, or operate as a waiver of any right, power or remedy of either\nparty under, the Employment Agreement.\n\n          7.  Counterparts.  This Amendment may be executed in two or more\n              ------------                                                \ncounterparts, each of which shall be considered an original, but all of which\ntogether shall constitute the same instrument.\n\n          8.  Captions.  The captions in this Amendment are for convenience of\n              --------                                                        \nreference only and shall not be given any effect in the interpretation of this\nAmendment.\n\n          9.  Governing Law.  This Amendment shall be governed by the law of the\n              -------------                                                     \nState of New York, without regard to its conflict of laws principles.\n\n          10.   References.  On an after the date hereof, each\n                ----------                                    \nreference in the Employment Agreement to 'this Agreement', 'hereunder',\n'hereof', 'herein' or word of like import referring to the Employment Agreement,\nand each reference in any other document to the Employment Agreement,\n'thereunder', 'thereof' or words of like import referring to the Employment\nAgreement shall mean and be a reference to the Employment Agreement as amended\nby this Amendment.\n\n                                       2\n\n \n          11.   Reaffirmation.  Except as specifically set forth herein, this\n                -------------                                                \nAmendment shall not by implication or otherwise alter, modify, amend or in any\nother way affect any of the terms, conditions, obligations, covenants or\nagreements contained in the Employment Agreement, all of which are ratified and\naffirmed in all respects and shall continue in full force and effect.\n\n          IN WITNESS WHEREOF, the parties have executed this Amendment as of the\ndate first above written.\n\n\n\n                         TOMMY HILFIGER U.S.A., INC.\n\n\n                         By:  \/s\/ Benjamin M.T. Ng\n                            ----------------------------------\n                            Name:  Benjamin M.T. Ng\n                            Title: Executive Vice President-\n                                   Strategic Development\n\n\n                              \/s\/ Joel Horowitz\n                            ----------------------------------\n                                  Joel Horowitz\n\n\n \n                                       3\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7775],"corporate_contracts_industries":[9396],"corporate_contracts_types":[9539,9544],"class_list":["post-39659","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-hilfiger-tommy-corp","corporate_contracts_industries-consumer__clothing","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/39659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=39659"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39659"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39659"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}