Amendment No. 8 To The Savings Plan

As Amended and Restated Effective January 1, 1987)


The Liz Claiborne Savings Plan as amended and restated effective January 1, 1987 (the "Plan") is hereby further amended in the following respects:


(1) The fourth sentence of Section 3.10 is restated to read as
follows:


"Notwithstanding the provisions of Sections 4.3 or 4.4, at the time the Rollover Account is first established, the Member may elect to have his Rollover Account allocated among the Investment Funds provided for in Section 4.2 in such increments as the Plan Administrator may from time to time permit (in 10% increments from July 1, 1994 to December 31, 1996 and in 25% increments prior to July 1, 1994), without regard to the manner in which his other Accounts are invested, provided any requirements or restrictions, if any, that from time to time the Committee may prescribe in connection with one or more Investment Funds on an equitable and practicable basis, are satisfied; thereafter, reallocation of account balances (including the Rollover Account) may be made only in accordance with the provisions of Section 4.3."


(2) Section 4.3 is restated, other than Section 4.3.1, to read as
follows:


"A Member may, by giving notice on the Appropriate Form within such time as, and reflecting those requirements or restrictions, if any, that from time to time, the Committee may prescribe, designate the proportion of the then existing balance of his Accounts which shall be invested in each Investment Fund as of any Valuation Date (Entry Date prior to July 1, 1994), with a single designation to control for all of his Accounts; provided that the percentage of such interest to be invested in any such Investment Fund as of such date shall be in such increments as the Plan Administrator may from time to time ...