AMENDMENT NUMBER 3
TO LICENSE AGREEMENT
This amendment dated as of January 30 2002, (the "Third Amendment") further amends the License Agreement
dated December 9, 1996, as amended by Amendment Number 1 thereto dated as of February 1, 1998 and
Amendment Number 2 thereto dated as of September 1, 1999 (referred to herein as "the Agreement") by and
between Coach, Inc. (successor in interest to Coach, a division of Sara Lee Corporation), ("Licensor") and
Movado Group, Inc. and Movado Watch Company SA (successor in interest to NA Trading SA ), ( Movado
Watch Company SA and Movado Group, Inc. hereinafter referred to together as "Licensee").
WHEREAS, the parties desire to make certain additional changes to the Agreement as set forth below:
NOW THEREFORE in consideration of the mutual covenants and the premises set forth herein, the Agreement
is hereby amended as follows:
1. Delete the period at the end of Section 1.5 "Contract Year", and insert the following language immediately
following the word "Products": "provided, however that as of February 1, 2002 , Contract Year shall mean each
(12) month period beginning February 1 and ending January 31 so that Contract Year 5 will begin February 1,
2002, and provided further that Contract Year 4 will end January 31, 2002."
2. Delete Section 1.2 "Licensor Channels", and substitute therefor the following:
"Licensor Channels" shall mean any entity controlled by Licensor, including without limitation retail outlets,
wholesale distributors, Licensor's catalog, Licensor's stand alone retail stores, Licensor's factory outlet stores,
Licensor Special Accounts (as hereinafter defined), Licensor's retail stores that are situated within department
stores located outside the United States, and retail outlets operated and/or controlled by Coach Japan, Inc."
3. Delete the first sentence of Section 8.2, and substitute therefor the following:
"All Licensed Products for retail sales in Licensor Channels worldwide, including, but