He is probably telling the truth, he didn't read the contract. His understanding of his obligations probably comes from the meetings beforehand. The contract would have been dealt with by his lawyers after those meetings, who would have read it. That's what they're paid to do for him.
This would have been taking place around 2011. By 2015 he's moving different and has no real interest in another fragrance after the first saw its revenues decline by over 50% in a year. Remember at the time he was buying tidal and sovereign brands.
In my opinion he knew what he was doing when he told them to kick rocks. He basically gambled and challenged them to do something about it. This has been going on for years. It's all about mitigation to reduce the pay out he will have to pay at this point.