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