One-time Fiscal 2020 Performance Share Unit - Award Notification containing the standard terms of the one-time Fiscal 2020 performance share unit awards under the Amended and Restated 2010 Long-Term Stock Incentive Plan

EX-10.3 3 rl-20190629x10qex103.htm EXHIBIT 10.3 Exhibit

EXHIBIT 10.3

[NAME] - Equity Award Notification

[DATE] Performance Share Units (PSU) Award

Target Grant Value: $[_____]

Number of Shares: Based on [DATE]



Award Type	Number of Shares
PSUs	[_____]

Note: The terms of the [DATE] One-Time 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].

Information concerning goals is strictly confidential

PSUs:


•	Vest after end of Fiscal 2022 based on achievement of cumulative performance during Fiscal 2020-2022 as certified by the Compensation and Organizational Development Committee based on performance goal and payout range shown below:



Performance Level	% of Goal Achieved	FY20-FY22 Cumulative Earnings Per Share Goal	% of Target Award Earned
Threshold	90%	$[ ]	50%
Target	100%	$[ ]	100%
Maximum	110%	$[ ]	200%

PSU vesting is interpolated for performance between 90% - 110% of Target. Vesting typically occurs in June, but may be earlier or later. No payout will be earned for performance below Threshold.