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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>UNITED
STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>FORM
8-K</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center"><FONT STYLE="font-size: 14pt"></FONT><BR>
<BR>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>CURRENT REPORT<BR>
<BR>
PURSUANT TO SECTION 13 OR 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>Date of Report (Date of earliest
event reported): April 24, 2014</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 16pt"><B>G-III
APPAREL GROUP, LTD.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="font-weight: normal">(Exact
name of registrant as specified in its charter)</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>&nbsp;</B></P>

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    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Delaware</B></FONT><BR>
<FONT STYLE="font-size: 10pt; font-weight: normal">(State or other jurisdiction</FONT><BR>
<FONT STYLE="font-size: 10pt; font-weight: normal">of incorporation)</FONT></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>0-18183</B></FONT><BR>
<FONT STYLE="font-size: 10pt; font-weight: normal">(Commission File Number)</FONT></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>41-1590959</B></FONT><BR>
<FONT STYLE="font-size: 10pt; font-weight: normal">(IRS Employer</FONT><BR>
<FONT STYLE="font-size: 10pt; font-weight: normal">Identification No.)</FONT></TD></TR>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>&nbsp;</B></P>

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    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>512 Seventh Avenue</B></P>
        <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>New
        York, New York</B></FONT><BR>
        <FONT STYLE="font-weight: normal">(Address of principal executive offices)</FONT></P></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>10018</B></FONT><BR>
<FONT STYLE="font-size: 10pt; font-weight: normal">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 24pt 0 12pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">Registrant&#8217;s
telephone number, including area code:</FONT> (212) 403-0500<BR>
<BR>
Not Applicable<BR>
<FONT STYLE="font-weight: normal">(Former name or former address, if changed since last report)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="font-weight: normal">Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2 below):</FONT></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-weight: normal">&uml;</FONT></TD><TD><FONT STYLE="font-weight: normal">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-weight: normal">&uml;</FONT></TD><TD><FONT STYLE="font-weight: normal">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-weight: normal">&uml;</FONT></TD><TD><FONT STYLE="font-weight: normal">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-weight: normal">&uml;</FONT></TD><TD><FONT STYLE="font-weight: normal">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</FONT></TD></TR></TABLE>

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    <TD STYLE="width: 55pt; text-align: left"><B>Item 1.01</B></TD>
    <TD STYLE="width: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: left"><B>&#9;Entry into a Material Definitive Agreement.</B></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; text-indent: -0.75in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(a)&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On April
28, 2014, Morris Goldfarb, the Chairman of the Board, Chief Executive Officer and President of G-III Apparel Group, Ltd. (the &#8220;Company&#8221;),
entered into a letter agreement (the &#8220;Goldfarb Letter Amendment&#8221;) with the Company that amends his Employment Agreement,
dated February 1, 1994, as amended, with the Company. Subject to the approval of the Company&#8217;s stockholders, the Goldfarb
Letter Amendment amends the performance-based incentive provisions of Mr. Goldfarb&#8217;s Employment Agreement, beginning with
respect to the fiscal year ending January 31, 2015 (&#8220;fiscal 2015&#8221;), as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance
required to achieve the target payout amount will be established annually by the Compensation Committee of the Board of Directors
based on the Company&#8217;s publicly disclosed annual forecast, approved by the Board of Directors or the Audit Committee of the
Board of Directors (referred to as the &#8220;approved forecast&#8221;). Mr. Goldfarb&#8217;s annual incentive bonus would be determined
based on a comparison of forecasted &#8220;pre-tax income&#8221; (as defined in the Goldfarb Letter Amendment) to the actual pre-tax
income achieved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Company&#8217;s actual pre-tax income for a fiscal year is less than the approved forecast, the annual incentive payment to
Mr. Goldfarb will be determined by the Compensation Committee in accordance with the following table:</P>

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    <TD STYLE="width: 49%; border: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Actual Pre-Tax Income is Less Than<BR>
Approved Forecast by</B></FONT></TD>
    <TD STYLE="width: 51%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Annual Incentive Amount</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15% or less</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6% of actual pre-tax income in excess of $2 million (the Base Bonus Amount)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15-30%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Base Bonus Amount <I>minus</I> 2% of the portion of actual pre-tax that is more than 15% and up to 30% lower than the approved forecast</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">More than 30%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The bonus amount determined pursuant to the preceding row, <I>minus</I> 4% of the portion of actual pre-tax income that is more than 30% lower than the approved forecast, but not less than zero</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
actual pre-tax income for a fiscal year equals or exceeds the approved forecast, the annual incentive bonus payable to Mr. Goldfarb
will be determined by the Compensation Committee in accordance with the following table, subject to the payout cap described in
paragraph (v) below:</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; border: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Actual Pre-Tax Income Exceeds <BR>
Approved Forecast by</B></FONT></TD>
    <TD STYLE="width: 51%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Annual Incentive Amount</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0-15%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6% of actual pre-tax income in excess of $2 million (the Base Bonus Amount)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15-30%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Base Bonus Amount <I>plus</I> 2% of the portion of actual pre-tax income that is more than 15% and up to 30% in excess of the approved forecast</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">More than 30%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The annual incentive payable pursuant to the preceding row, <I>plus </I>4% of the portion of actual pre-tax income that is more than 30% in excess of the approved forecast</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event of a dilutive stock issuance, excluding share changes caused by equity compensation awards approved by the Compensation
Committee or structural changes that affect capitalization as a whole, such as a stock split, reverse stock split or stock dividend,
the Compensation Committee may equitably adjust the percentages in the &#8220;Annual Incentive Amount&#8221; column downward, but
not upward.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 12pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">(v)&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
maximum annual incentive bonus will be capped at an amount equal to one and one-half times the targeted bonus based upon the budgeted
level of pre-tax income contained in the approved forecast.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">A copy of the Goldfarb
Letter Amendment is filed as Exhibit 10.1 hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(b)&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On April
28, 2014, Sammy Aaron, the Vice Chairman of the Company, entered into, a letter agreement (the &#8220;Aaron Letter Amendment&#8221;)
with the Company that amends his Employment Agreement, dated July 11, 2005, as amended, with the Company. Subject to the approval
of the Company&#8217;s stockholders, the Aaron Letter Amendment amends the performance-based incentive provisions of Mr. Aaron&#8217;s
Employment Agreement, beginning with respect to fiscal 2015, in the same manner as provided for Mr. Goldfarb above, except that
the annual incentive payments will be calculated in accordance with the tables below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 12pt; margin-left: 0.5in; text-align: justify; text-indent: 0.5in">(i)&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
actual pre-tax income for a fiscal year is less than the approved forecast, the annual incentive payment to Mr. Aaron will be determined
by the Compensation Committee in accordance with the following table:</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; border: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Actual Pre-Tax Income is Less Than <BR>
Approved Forecast by</B></FONT></TD>
    <TD STYLE="width: 51%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Annual Incentive Amount</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15% or less</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4% of actual pre-tax income in excess of $2 million (the Base Bonus Amount)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15-30%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Base Bonus Amount <I>minus</I> 1.33% of the portion of actual pre-tax that is more than 15% and up to 30% lower than the approved forecast</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">More than 30%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The bonus amount determined pursuant to the preceding row, <I>minus</I> 2.66% of the portion of actual pre-tax income that is more than 30% lower than the approved forecast, but not less than zero</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
actual pre-tax income for a fiscal year equals or exceeds the approved forecast, the annual incentive bonus payable to Mr. Aaron
shall be determined by the Compensation Committee in accordance with the following table, subject to the payout cap described in
clause (v) in the description of the Goldfarb Letter Amendment above:</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; border: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Actual Pre-Tax Income Exceeds <BR>
Approved Forecast by</B></FONT></TD>
    <TD STYLE="width: 49%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Annual Incentive Amount</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0-15%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4% of actual pre-tax income in excess of $2 million (the Base Bonus Amount)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15-30%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Base Bonus Amount <I>plus</I> 1.33% of the portion of actual pre-tax income that is more than 15% and up to 30% in excess of the approved forecast</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">More than 30%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: justify; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The annual incentive payable pursuant to the preceding row, <I>plus </I>2.66% of the portion of actual pre-tax income that is more than 30% in excess of the approved forecast</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">A copy of the Aaron
Letter Amendment is filed as Exhibit 10.2 hereto.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 55pt; text-align: left"><B>Item 5.02</B></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: left"><B>Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(e)&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
a description of the amendments to the Employment Agreements of Messrs. Goldfarb and Aaron, see paragraphs (a) and (b) of Item
1.01 of this Form 8-K.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(ii)&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, on April 24, 2014, the Compensation Committee approved an increase in the base salary of Neal S. Nackman, the Company&#8217;s
Chief Financial Officer, from $375,000 per annum to $450,000 per annum, effective June 1, 2014.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt">
<TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 55pt; text-align: left"><B>Item 9.01</B></TD>
    <TD STYLE="width: 5pt">&nbsp;</TD>
    <TD STYLE="text-align: left"><B>Financial Statements and Exhibits.</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.75in; text-indent: -0.75in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(d) &#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">10.1
&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Letter Amendment, dated April 28, 2014 to the Employment Agreement, dated February 1,
1994, by and between Morris Goldfarb and the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">10.2&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Letter Amendment,
dated April 28, 2014 to the Employment Agreement, dated as of July 11, 2005, by and between Sammy Aaron and the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused</FONT> this report to be signed on its
behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">G-III APPAREL GROUP, LTD.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ Neal S. Nackman</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Name:&#9;Neal S. Nackman<BR>Title:&#9;Chief Financial Officer</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt">Date:
April 30, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.25in"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>EXHIBIT INDEX</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">                                                                                                                                                                                                                                                                                                                                                                                                                  <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Exhibit</U></FONT>&#9;<U></U></TD><TD><U>Description</U></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 10%">10.1</TD><TD STYLE="text-align: left; width: 90%">Letter Amendment, dated April 28, 2014 to the Employment Agreement, dated February 1, 1994, by and between Morris Goldfarb
and the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10%">10.2</TD><TD STYLE="width: 90%">Letter Amendment, dated April 28, 2014 to the Employment Agreement, dated as of July 11, 2005, by and between Sammy Aaron and
the Company.</TD></TR></TABLE>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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[{"type": "8-K", "sequence": "1", "filename": "t1400776_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 36130}]
{"company-data": {"conformed-name": "G III APPAREL GROUP LTD /DE/", "cik": "0000821002", "assigned-sic": "2300", "irs-number": "411590959", "state-of-incorporation": "DE", "fiscal-year-end": "0131"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-18183", "film-number": "14798918"}, "business-address": {"street1": "512 SEVENTH AVE", "city": "NEW YORK", "state": "NY", "zip": "10018", "phone": "2126298830"}, "mail-address": {"street1": "512 SEVENTH AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10018"}, "former-company": {"former-conformed-name": "ANTE CORP", "date-changed": "19891120"}}
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest
event reported): April 24, 2014
G-III
APPAREL GROUP, LTD.
(Exact
name of registrant as specified in its charter)
Delaware
(State or other jurisdiction
of incorporation)
0-18183
(Commission File Number)
41-1590959
(IRS Employer
Identification No.)
512 Seventh Avenue
New
        York, New York
(Address of principal executive offices)
10018
(Zip Code)
Registrant's
telephone number, including area code:
(212) 403-0500
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2 below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 1.01
Entry into a Material Definitive Agreement.
(a)	        On April
28, 2014, Morris Goldfarb, the Chairman of the Board, Chief Executive Officer and President of G-III Apparel Group, Ltd. (the "Company"),
entered into a letter agreement (the "Goldfarb Letter Amendment") with the Company that amends his Employment Agreement,
dated February 1, 1994, as amended, with the Company. Subject to the approval of the Company's stockholders, the Goldfarb
Letter Amendment amends the performance-based incentive provisions of Mr. Goldfarb's Employment Agreement, beginning with
respect to the fiscal year ending January 31, 2015 ("fiscal 2015"), as follows:
(i)	        Performance
required to achieve the target payout amount will be established annually by the Compensation Committee of the Board of Directors
based on the Company's publicly disclosed annual forecast, approved by the Board of Directors or the Audit Committee of the
Board of Directors (referred to as the "approved forecast"). Mr. Goldfarb's annual incentive bonus would be determined
based on a comparison of forecasted "pre-tax income" (as defined in the Goldfarb Letter Amendment) to the actual pre-tax
income achieved.
(ii)	       If
the Company's actual pre-tax income for a fiscal year is less than the approved forecast, the annual incentive payment to
Mr. Goldfarb will be determined by the Compensation Committee in accordance with the following table:
Actual Pre-Tax Income is Less Than
Approved Forecast by
Annual Incentive Amount
15% or less
6% of actual pre-tax income in excess of $2 million (the Base Bonus Amount)
15-30%
Base Bonus Amount
minus
2% of the portion of actual pre-tax that is more than 15% and up to 30% lower than the approved forecast
More than 30%
The bonus amount determined pursuant to the preceding row,
minus
4% of the portion of actual pre-tax income that is more than 30% lower than the approved forecast, but not less than zero
(iii)	       If
actual pre-tax income for a fiscal year equals or exceeds the approved forecast, the annual incentive bonus payable to Mr. Goldfarb
will be determined by the Compensation Committee in accordance with the following table, subject to the payout cap described in
paragraph (v) below:
Actual Pre-Tax Income Exceeds
Approved Forecast by
Annual Incentive Amount
0-15%
6% of actual pre-tax income in excess of $2 million (the Base Bonus Amount)
15-30%
Base Bonus Amount
plus
2% of the portion of actual pre-tax income that is more than 15% and up to 30% in excess of the approved forecast
More than 30%
The annual incentive payable pursuant to the preceding row,
plus
4% of the portion of actual pre-tax income that is more than 30% in excess of the approved forecast
(iv)	       In
the event of a dilutive stock issuance, excluding share changes caused by equity compensation awards approved by the Compensation
Committee or structural changes that affect capitalization as a whole, such as a stock split, reverse stock split or stock dividend,
the Compensation Committee may equitably adjust the percentages in the "Annual Incentive Amount" column downward, but
not upward.
(v)	       The
maximum annual incentive bonus will be capped at an amount equal to one and one-half times the targeted bonus based upon the budgeted
level of pre-tax income contained in the approved forecast.
A copy of the Goldfarb
Letter Amendment is filed as Exhibit 10.1 hereto.
(b)	       On April
28, 2014, Sammy Aaron, the Vice Chairman of the Company, entered into, a letter agreement (the "Aaron Letter Amendment")
with the Company that amends his Employment Agreement, dated July 11, 2005, as amended, with the Company. Subject to the approval
of the Company's stockholders, the Aaron Letter Amendment amends the performance-based incentive provisions of Mr. Aaron's
Employment Agreement, beginning with respect to fiscal 2015, in the same manner as provided for Mr. Goldfarb above, except that
the annual incentive payments will be calculated in accordance with the tables below:
(i)	        If
actual pre-tax income for a fiscal year is less than the approved forecast, the annual incentive payment to Mr. Aaron will be determined
by the Compensation Committee in accordance with the following table:
Actual Pre-Tax Income is Less Than
Approved Forecast by
Annual Incentive Amount
15% or less
4% of actual pre-tax income in excess of $2 million (the Base Bonus Amount)
15-30%
Base Bonus Amount
minus
1.33% of the portion of actual pre-tax that is more than 15% and up to 30% lower than the approved forecast
More than 30%
The bonus amount determined pursuant to the preceding row,
minus
2.66% of the portion of actual pre-tax income that is more than 30% lower than the approved forecast, but not less than zero
(ii)	        If
actual pre-tax income for a fiscal year equals or exceeds the approved forecast, the annual incentive bonus payable to Mr. Aaron
shall be determined by the Compensation Committee in accordance with the following table, subject to the payout cap described in
clause (v) in the description of the Goldfarb Letter Amendment above:
Actual Pre-Tax Income Exceeds
Approved Forecast by
Annual Incentive Amount
0-15%
4% of actual pre-tax income in excess of $2 million (the Base Bonus Amount)
15-30%
Base Bonus Amount
plus
1.33% of the portion of actual pre-tax income that is more than 15% and up to 30% in excess of the approved forecast
More than 30%
The annual incentive payable pursuant to the preceding row,
plus
2.66% of the portion of actual pre-tax income that is more than 30% in excess of the approved forecast
A copy of the Aaron
Letter Amendment is filed as Exhibit 10.2 hereto.
Item 5.02
Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
(e)	        (i)	        For
a description of the amendments to the Employment Agreements of Messrs. Goldfarb and Aaron, see paragraphs (a) and (b) of Item
1.01 of this Form 8-K.
(ii)	        In
addition, on April 24, 2014, the Compensation Committee approved an increase in the base salary of Neal S. Nackman, the Company's
Chief Financial Officer, from $375,000 per annum to $450,000 per annum, effective June 1, 2014.
Item 9.01
Financial Statements and Exhibits.
(d) 	       Exhibits
10.1
	     Letter Amendment, dated April 28, 2014 to the Employment Agreement, dated February 1,
1994, by and between Morris Goldfarb and the Company.
10.2		     Letter Amendment,
dated April 28, 2014 to the Employment Agreement, dated as of July 11, 2005, by and between Sammy Aaron and the Company.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its
behalf by the undersigned hereunto duly authorized.
G-III APPAREL GROUP, LTD.
By:
/s/ Neal S. Nackman
Name:	Neal S. Nackman
Title:	Chief Financial Officer
Date:
April 30, 2014
EXHIBIT INDEX
Exhibit
Description
10.1
Letter Amendment, dated April 28, 2014 to the Employment Agreement, dated February 1, 1994, by and between Morris Goldfarb
and the Company.
10.2
Letter Amendment, dated April 28, 2014 to the Employment Agreement, dated as of July 11, 2005, by and between Sammy Aaron and
the Company.