X0202 4 2008-05-14 0 0000352363 CLAIBORNE LIZ INC LIZ 0001409921 McTague David 1441 BROADWAY NEW YORK NY 10018 0 1 0 0 Executive Vice President Options 19.43 2008-05-14 4 A 0 120000 0.00 A Common Stock, par value $ per share 120000 120000 D These options to purchase shares of Issuer's Common Stock granted under the Liz Claiborne 2005 Stock Incentive Plan vest as follows: 1/4 on each of the first and second anniversary, and the remaining 1/2 on the third anniversary; these options expire on the seventh anniversary. These options were initially authorized during a trading black-out period. In accordance with Issuer's equity grant policy, the exercise price for these options is the higher of the closing price on the authorization date and the closing price on the date the black-out period expired. Nicholas Rubino, as Attorney-In-Fact 2008-05-19