FIRST AMENDMENT TO LEASE
This FIRST AMENDMENT TO LEASE dated as of March ___,1998 (this "Amendment"), between RCPI
TRUST, a Delaware business trust having an office c/o Tishman Speyer Properties, L.P., 45 Rockefeller Plaza,
New York, New York 10111 ("Landlord"), and MOVADO RETAIL GROUP, INC., a New Jersey
corporation having an office at 125 Chubb Avenue, Lyndhurst, New Jersey 07071 ("Tenant").
W I T N E S S E T H:
WHEREAS, Landlord's predecessor-in-interest, Rockefeller Center Properties, and Tenant's predecessor-in-
interest, Swissam Inc., entered into that certain Lease, dated August 10, 1994 (the "Original Lease"), covering
Shop '638' on the Street Floor and Shop 'X' on the Mezzanine Floor, of the building located at 630 Fifth
Avenue, New York, New York (the "Original Premises"), all as more particularly described in the Original
WHEREAS, Movado Group, Inc., formerly known as North American Watch Corporation ("Guarantor"),
executed a certain Guaranty, dated August 10, 1994, whereby Guarantor guaranteed all of Tenant's obligations
under the Lease; and
WHEREAS, Landlord and Tenant desire to modify the Original Lease to (i) provide for the leasing by Tenant of
certain space on the Street Floor and the Subbasement Floor of the building located at 610 Fifth Avenue, New
York, New York (the "Building") in substitution of the Original Premises and
(ii) otherwise modify the terms and conditions of the Original Lease, all as hereinafter set forth (the Original
Lease, as modified by this Amendment, the "Lease").
NOW, THEREFORE, in consideration of the mutual covenants herein contained, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree as
1. Capitalized Terms. All capitalized terms used and not otherwise defined in this Amendment shall have the
respective meanings ascribed to them in the Original Lease.
2. Lease of Substitute Premises. (a) Landlord hereby leases to Tenant, an