Ralph Lauren Corporation Performance-Based Restricted Stock Unit (PRSU) Award Notification

Summary

This document notifies the recipient of a performance-based restricted stock unit (PRSU) award from Ralph Lauren Corporation under its 2010 Long-Term Incentive Plan. The award is contingent on signing a PRSU Equity Agreement and is subject to the terms of the recipient's employment agreement. Shares vest in three annual installments, starting if a specified performance goal is met and certified, and if the recipient remains employed. Details about performance goals are confidential.

EX-10.2 3 rl-20181229x10qex102.htm EXHIBIT 10.2 Exhibit

EXHIBIT 10.2

[NAME] - Equity Award Notification

[DATE] Performance-Based Restricted Stock Unit (PRSU) Award

Target Grant Value: $[_____]

Number of Shares: Based on [DATE]



Award Type	Number of Shares
PRSUs	[_____]

Note: The terms of the [DATE] Annual Equity Award are in accordance with the terms and conditions of the Ralph Lauren Corporation 2010 Long-Term Incentive Plan as well as with the terms and conditions of executive’s employment agreement date [DATE]. These awards are contingent upon signing the PRSU Equity Agreement which will be presented for execution on [DATE].

Information concerning goals is strictly confidential

PRSUs:


•	Vest over a three‐year period in one‐third annual installments (tranches) beginning FY20 if the FY19 performance goal (ROIC of [__]%) is achieved and certified by the Compensation and Organizational Development Committee, and employment is continuous.