DESCRIPTION OF SUPPLEMENTAL LIFE INSURANCE
Vice Presidents of the Liz Claiborne, Inc. (the "Company") receive universal life insurance policies whic
provide coverage equal to two times annual base salary. The Company pays the premiums on each policy dur
the employment period, enabling the employee to have a paid-up life insurance policy at retirement with a
cash surrender value. Additionally, the Chairman of the Board and Vice Chairman of the Board and Preside
receive a $1 million term life insurance policy for which the Company pays the premium on the policy.