AMENDMENT NUMBER 1 TO THE LIZ CLAIBORNE, INC.
DIRECTORS 1991 STOCK OWNERSHIP PLAN
(THE "DIRECTORS PLAN")
The Director's Plan is hereby amended effective March 9, 1994 as follows:
In Section 5(a) in Line 2 after the word "of" delete:
and insert in its place:
"the first business day of the Company's fiscal year"
IN WITNESS WHEREOF, Liz Claiborne, Inc. has caused this instrument to be executed on this 22nd day of
LIZ CLAIBORNE, INC.