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

Summary

This agreement notifies the recipient of a performance-based restricted stock unit (PRSU) award from Ralph Lauren Corporation under its 2019 Long-Term Incentive Plan. The award vests in three annual installments, starting in fiscal year 2021, if a specified performance goal is met and the recipient remains employed. The award is contingent on signing a separate PRSU Equity Agreement. Details about performance goals are confidential.

EX-10.3 4 rl-20190928x10qex103.htm EXHIBIT 10.3 Exhibit

EXHIBIT 10.3

[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 2019 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 FY21 if the FY20 performance goal (ROIC of [__]%) is achieved and certified by the Compensation and Organizational Development Committee, and employment is continuous.