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 vests in three equal parts over three years, starting in fiscal year 2019, if a specified operating margin goal for fiscal year 2018 is met and certified, and the recipient remains employed through each vesting date. The award is contingent on signing a separate PRSU Equity Agreement and is subject to the terms of the recipient's employment agreement.

EX-10.2 3 rl-20170930x10qex102.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 three-year period in one-third increments beginning FY19 if the FY18 performance goal (Operating Margin of [__]%) is achieved and certified by the Compensation and Organizational Development Committee, and employment is continuous through each vesting date (unless otherwise provided for in the employment agreement).