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DIRECTORS’ EQUITY PLAN 

Effective on May 13, 2016 

1.

Purpose. 

(a)

Arrogene, Inc. (" Arrogene ") has established this Directors’ Equity Plan (the " Plan"). 

(b)

The purpose of the Plan is to enable members of the Board of Directors (the (" Eligible Directors " and " Board ", respectively)   to receive for their Board service options (“Options”) to purchase shares of Arrogene Series A Convertible Preferred Stock (" Shares "). 

2.

Definitions. 

(a)

Code " means the Internal Revenue Code of 1986, as amended, and the rules and regulations promulgated thereunder. 

(b)

Committee " means an existing or newly formed committee of two or more Independent Directors appointed by the Board. 

(c)

Employee " means any person employed by Arrogene or a Subsidiary of Arrogene. Service as a director or payment of a director's fee by Arrogene or a Subsidiary of Arrogene alone shall not be sufficient to constitute "employment" by Arrogene or a Subsidiary of Arrogene. 

(d)

Fair Market Value " means, as of any date, the value of the Shares determined as follows: 

(i)

If the Shares are listed on any "established securities market", as defined in Treas. Reg. Section 1.897-1(m) or any successor thereto, the Fair Market Value of a Share shall be the closing sales price for such Share as quoted on such market (or the market with the greatest volume of trading in the Shares if such Shares are traded on more than one market) on the day of determination (or if no sales were reported on such day, on the most recent trading day on which a sales transaction was reported), as reported by such market or such other source as the Board reasonably deems reliable. 

(ii)

In the absence of such markets for the Shares, the Fair Market Value shall be determined in good faith by the Board using a reasonable valuation method in accordance with Treas. Reg. Section 1.409A-1(b)(5)(iv)(B) or any successor thereto. 

(e)

Independent Director " means (i) a director who satisfies the definition of Independent Director or similar definition under the applicable securities exchange rules and regulations upon which the Shares are traded from time to time, if applicable, and (ii) a director who either (A) is not a current employee of Arrogene or an "affiliated corporation" (within the meaning of Treasury Regulations promulgated under Section 162(m) of the Code), is not a former employee of Arrogene or an "affiliated corporation" receiving compensation for prior services (other than benefits under a tax qualified pension plan), is not an officer of Arrogene or an "affiliated corporation" at any time and is not currently receiving direct or indirect remuneration from Arrogene or an "affiliated corporation" for services in any capacity other than as a director or (B) is otherwise considered an "outside director" for purposes of Section 162(m) of the Code. 

(f)

Option " means the right to purchase Share(s) subject to the terms and conditions of this Plan. 

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(g)

Subsidiary " means with respect to any person, a corporation the majority of whose share capital with voting power, under ordinary circumstances, to elect directors is, at the date of determination thereof, directly or indirectly owned by such person, by a Subsidiary of such person, or by such person and one or more Subsidiaries of such person. 

3.

Administration. 

(a)

Administration by Board.     The Board shall administer the Plan unless and until the Board delegates administration to a Committee. The Board may, at any time and for any reason in its sole discretion, rescind all or any portion of such delegation. 

(b)

Powers of Board.     The Board shall have the power, subject to, and within the limitations of, the express provisions of the Plan: 

(i)

To construe and interpret the Plan and any agreements issued pursuant to the Plan and to establish, amend and revoke rules and regulations for their administration. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan in a manner and to the extent it shall deem necessary or expedient to make the Plan fully effective. 

(ii)

To amend the Plan as provided in Sections 12 and 13. 

(iii)

To waive in its sole discretion, at any time and from time to time, with respect to any award pursuant to Section 5 of the Plan, the vesting requirement set forth in Section 5(c) of the Plan, and to permit Options to vest on an earlier date, including the date of grant. 

(iv)

Generally, to exercise such powers and to perform such acts as the Board deems necessary or expedient to promote the best interests of Arrogene which are not in conflict with the provisions of the Plan. 

(c)

Delegation to Committee.  The Board may delegate administration of the Plan and its powers and duties thereunder to a Committee or Committees, and the term " Committee " shall apply to any person or persons to whom such authority has been delegated. Upon such delegation, the Committee shall have the powers theretofore possessed by the Board, including the power to delegate to a subcommittee any of the administrative powers the Committee is authorized to exercise (and references in this Plan to the Board shall thereafter be deemed to include the Committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. In its absolute discretion, the Board may at any time and from time to time exercise any and all rights and duties of the Committee under this Plan, except respecting matters under Rule 16b-3 of the Exchange Act or Section 162(m) of the Code, or any rules or regulations issued thereunder, which are required by such rules or regulations to be determined in the sole discretion of the Committee. 

(d)

Effect of Decision of the Board or a Committee; No Liability.   All determinations, interpretations and constructions made by the Board or a Committee in good faith shall not be subject to review by any person and shall be final, binding and conclusive on all persons. No member of the Board or a Committee or any person to whom duties hereunder have been delegated shall be liable for any action, interpretation or determination made in good faith, and such persons shall be entitled to full indemnification and reimbursement consistent with applicablelaw, in the manner provided in Arrogene' Certificate of Incorporation and Bylaws as the same may be amended from time to time, or as otherwise provided in any agreement between any such member and Arrogene. 

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4.

Maintenance of Records.  Arrogene shall maintain bookkeeping accounts for each Eligible Director, an " Award Account”, which shall be credited in accordance with the terms of this Plan and the elections of each Eligible Director pursuant to this Plan. Such accounts shall be maintained solely to evidence unfunded obligations of Arrogene. 

5.

Award of Non-Qualified Stock Options. 

(a)

Awards.  The Board shall authorize the award of Non-Qualified Stock Options (“Options”) exercisable to purchase Shares of Series A Convertible Preferred Stock, to each Eligible Director from time to time. At the discretion of the Board, such awards may occur on the date of an Eligible Director's initial election to the Board, on the date of the annual meeting of the Arrogene' stockholders, and/or on such other dates or upon the occurrence of such other events as the Board may determine. Upon any award of Options pursuant to this Plan, the Award Account of such Eligible Director shall be credited with such number of Options. 

(b)

Vesting.   Options awarded pursuant to this Section 5 shall vest in the manner determined by the Board with respect to such award. 

(c)

Voting.  Options shall have no voting rights.   

(d)

Number.  For each year of service on the Board of Directors, an Eligible Director shall be granted Options exercisable to purchase Shares which, on an “as converted” basis, will represent one-tenth of one percent of the total issued and outstanding shares of Common Stock of the Company, on a fully-diluted basis, determined on the date of grant.

(e)

Exercise Price.   The exercise price (“Exercise Price”) of the Options shall be 100% of the Fair Market Value of the Shares, as defined herein, determined on the date of grant.

(f)

Term.   Each Option granted under this Plan shall be exercisable for a period of ten (10) years following the date of grant.  

(g)

Consideration.  The purchase price of stock acquired pursuant to an Option shall be paid, 

 to the extent permitted by applicable statutes and regulations, either (i) in cash at the time the Option is exercised, or (ii) at the discretion of the Board or the Committee, at the time of the grant of the Option, (A) by delivery to the Company of other Common Stock of the Company, (B) according to a deferred payment or other arrangement (which may include, without limiting the generality of the foregoing, the use of other Common Stock of the Company) with the person to whom the Option is granted, or (C) in any other form of legal consideration that may be acceptable to the Board. 

(h)

Transferability.  An Option may be transferred to the extent provided in the Option  Agreement; provided that if the Option Agreement does not expressly permit the transfer of a  Option, the Option shall not be transferable except by will, by the laws of descent and distribution  or pursuant to a domestic relations order satisfying the requirements of Rule 16b3, and shall be exercisable during the lifetime of the person to whom the Option is granted only by such person or any transferee pursuant to a domestic relations order. Notwithstanding the foregoing, the person to whom the Option is granted may, by delivering written notice to the Company, in a form satisfactory to the Company, designate a third party who, in the event of the death of the Optionee, shall thereafter be entitled to exercise the Option.  

(i)

Termination of Relationship as Director.  In the event an Optionee's Continuous Status as  a Director terminates (other than upon the Optionee's death or disability), the Optionee may exercise his or her Option (to the extent that the Optionee was entitled to exercise it at the date of termination) but only within such period of time ending on the earlier of (i) the date three (3) 

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months after the termination of the Optionee's Continuous Status as a  Director (or such longer or shorter period specified in the Option Agreement), or (ii) the expiration of the term of the Option as set forth in the Option Agreement.  If, after termination, the Optionee does not exercise his or her Option within the time specified in the Option Agreement, the Option shall terminate, and the shares covered by such Option shall revert to and again become available for issuance under the Plan. 

(j)

Disability of Optionee.  In the event an Optionee's Continuous Status as a Director terminates as a result of the Optionee's disability, the Optionee may exercise his or her Option (to the extent that the Optionee was entitled to exercise it at the date of termination), but only within such period of time ending on the earlier of (i) the date twelve (12) months following such termination (or such longer or shorter period specified in the Option Agreement), or (ii) the expiration of the term of the Option as set forth in the Option Agreement. If, after termination, the Optionee does not exercise his or her Option within the time specified herein, the Option shall terminate, and the shares covered by such Option shall revert to and again become available for issuance under the Plan. 

(k)

Death of Optionee.  In the event of the death of an Optionee during, or within a three-month period (or 12 month period in the case of totally disabled Optionees) after the termination of, the Optionee's Continuous Status as a Director, the Option shall be fully vested and may be exercised by the Optionee's estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by a person designated to exercise the option upon the Optionee's death but only within the period ending on the earlier of (i) the date twelve (12) months following the date of death (or such longer or shorter period specified in the Option Agreement), or (ii) the expiration of the term of such Option as set forth in the Option Agreement.  If, at the time of death, the Optionee was not entitled to exercise his or her entire Option, the shares covered by the unexercisable portion of the Option shall revert to and again become available for issuance under the Plan.  If, after death, the Option is not exercised within the time specified herein, the Option shall terminate, and the shares covered by such Option shall revert to and again become available for issuance under the Plan.  

6.

Alienability.   No amount due or payable under the Plan or any interest in the Plan, shall be subject in any manner to alienation, sale, transfer, assignment, pledge, attachment, garnishment, lien, levy or like encumbrance. No such amount shall in any manner be liable for or subject to the debts or liability of any Eligible Director. Prior to delivery of Shares by Arrogene pursuant to Section 8, no Eligible Director shall have any right to transfer or assign any Share, or any right to receive any Share, credited to him or her under this Plan. Any purported assignment shall be null and void. 

7.

Eligible Director's Rights Unsecured.  The right of an Eligible Director to receive any Shares hereunder shall rank as an unsecured claim against Arrogene and shall be subject to the claims of general creditors in the event of the bankruptcy or insolvency of Arrogene. Assets that may be set aside for Arrogene' convenience with respect to the Plan, and bookkeeping accounts maintained pursuant to the Plan, shall not in any way be construed as assets held in trust for, or be subject to any prior claim by, an Eligible Director or beneficiary. 

8.

Effective Date.   The Plan shall become effective on May 13, 2016. 

9.

Section 409A.  Arrogene intends that benefits payable under the Plan not be subject to the additional tax imposed pursuant to Section 409A of the Code, and the Plan shall be construed in accordance with such intent. To the extent such payments or benefits could become subject to such Section, Arrogene shall cooperate with the Eligible Directors to amend the Plan with the goal of providing to the Eligible Directors the economic benefits described in the Plan in a manner that does not result in such tax being imposed. Notwithstanding any other provision of this Plan to the contrary, if (1) on the date of a Eligible Director's Separation from Service (as such term is used or defined in Code Section 409A(a)(2)(A)(i), 

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Treasury Regulation Section 1.409A-1(h), or any successor law or regulation), any of Arrogene' equity is publicly traded on an established securities market or otherwise (within the meaning of Section 409A(a)(2)(B)(i) of the Code) and (2) as a result of such Separation from Service, the Eligible Director would receive any payment that, absent the application of this sentence, would be subject to interest and additional tax imposed pursuant to Code Section 409A as a result of the application of Code Section 409A(2)(B)(i), then, to the extent necessary to avoid the imposition of such interest and additional tax, such payment shall be deferred until the earlier of (i) 6 months after the Participant's Separation from Service or (ii) the Participant's death. 

10.

Amendment and Termination.   The Board or any authorized Committee of the Board may at any time terminate, and may at any time and from time to time and in any respect amend, the Plan for any reason; provided that the Plan may not be amended more than once every six months, other than to comport with changes in the Code, the Employee Retirement Income Security Act of 1974, or the rules and regulations thereunder. 

5SEC Exhibit

EXHIBIT 10.37

RALPH LAUREN CORPORATION
FORM OF NON-EMPLOYEE DIRECTOR
RESTRICTED STOCK AWARD AGREEMENT
THIS AGREEMENT (the "Agreement"), is made, effective as of the ___  day of __________ (the "Grant Date"), between Ralph Lauren Corporation, a Delaware corporation (hereinafter called the "Company"), and __________ (hereinafter called the "Participant").

R E C I T A L S:

WHEREAS, the Company has adopted the Ralph Lauren Corporation Amended and Restated 2010 Long-Term Stock Incentive Plan (the "Plan") which Plan is incorporated herein by reference and made a part of this Agreement.  Capitalized terms not otherwise defined herein shall have the same meanings as in the Plan; and
WHEREAS, the Committee has determined that it would be in the best interests of the Company and its stockholders to grant the restricted stock award provided for herein (the "Restricted Stock Award") to the directors of the Company who are not employees of the Company or any Affiliate (the "Outside Directors") as a Participant pursuant to the Plan and the terms set forth herein.
NOW THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties hereto agree as follows: 
1.Grant of the Restricted Shares.  Subject to the terms and conditions of the Plan and the additional terms and conditions set forth in this Agreement, the Company hereby grants to the Participant a Restricted Stock Award consisting of ___ Shares (hereinafter called the "Restricted Shares").  The Restricted Shares shall vest and become nonforfeitable in accordance with Section 2 hereof.  

2.Vesting.

(a)Subject to the Participant's continued service as an Outside Director of the Company, the Restricted Shares shall vest and become nonforfeitable with respect to one-third (1/3) of the Shares initially granted hereunder on each of (i) the first anniversary of the Grant Date, (ii) the second anniversary of the Grant Date, and (iii) the third anniversary of the Grant Date.  Notwithstanding the foregoing, in the event the above vesting schedule results in the vesting of any 

	
			
	 
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fractional Shares, such fractional Shares shall not be deemed vested hereunder but shall instead only vest and become nonforfeitable when such fractional Shares aggregate whole Shares.

(b)If the Participant's service as an Outside Director of the Company is terminated for any reason other than due to the Participant's death or disability, the Restricted Shares shall, to the extent not then vested, be forfeited by the Participant without consideration.  In the event of the death or disability of the Participant, unvested Restricted Shares shall continue to vest according to the original vesting schedule.

(c)Notwithstanding any other provision of this Agreement to the contrary, in the event of a Change of Control (as defined in the Plan), the Restricted Shares shall, to the extent not then vested and not previously forfeited, immediately become fully vested as contemplated by Section 13 of the Plan.

3.Certificates.  Certificates evidencing the Restricted Shares may be issued by the Company and if such certificates are issued, shall be registered in the Participant's name on the stock transfer books of the Company promptly after the date hereof, but shall remain in the physical custody of the Company or its designee at all times prior to the vesting of such Restricted Shares pursuant to Section 2.  As a condition to the receipt of any Restricted Stock Award issued in certificate form, the Participant shall deliver to the Company a stock power, duly endorsed in blank, relating to the Restricted Shares.  No certificates shall be issued for fractional Shares.

4.Rights as a Stockholder.  The Participant shall be the record owner of the Restricted Shares until or unless such Shares are forfeited pursuant to Section 2 hereof, and as record owner shall be entitled to all rights of a common stockholder of the Company, including, without limitation, voting rights with respect to the Restricted Shares; provided that (i) any cash or in-kind dividends paid with respect to the Restricted Shares which have not previously vested shall be withheld by the Company and shall be paid to the Participant only when, and if, such Restricted Shares shall become fully vested pursuant to Section 2 and (ii) the Restricted Shares shall be subject to the limitations on transfer and encumbrance set forth in Section 7.  As soon as practicable following the vesting of any Restricted Shares pursuant to Section 2, Restricted Shares which shall have vested shall be delivered to the Participant or to the Participant's legal guardian or representative or in the event of his/her death to his/her heirs. 

5.Legend on Certificates.  In the event that certificates representing the vested Restricted Shares are delivered to the Participant as contemplated by Section 3 above, such certificates shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon which such Shares are listed, and any applicable Federal or state laws, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions.

	
			
	 
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6.No Right to Continued Service.  Neither the Plan nor this Agreement shall be construed as giving the Participant the right to continue to serve as an Outside Director or to otherwise be retained in the employ of, or in any consulting relationship to, the Company or any Affiliate.  Further, the Company may at any time terminate the Participant's services as an Outside Director and the Company or an Affiliate may dismiss the Participant or discontinue any employment or consulting relationship with the Participant, in each case free from any liability or any claim under the Plan or this Agreement, except as otherwise expressly provided herein.

7.Transferability.  The Restricted Shares may not, at any time prior to becoming vested pursuant to Section 2, be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Participant and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate; provided that the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance.

8.Withholding.  By accepting this Restricted Stock Award, the Participant agrees to make appropriate arrangements with the Company for satisfaction of any applicable federal, state or local income tax, withholding requirements or like requirements, including the payment to the Company upon the vesting of the Restricted Shares (or such earlier or later date as may be applicable under Section 83 of the Internal Revenue Code of 1986, as amended (the "Code")), or other settlement in respect of, the Restricted Shares of all such taxes and requirements and the Company shall be authorized to take such action as may be necessary in the opinion of the Company's counsel (including, without limitation, withholding vested Shares otherwise deliverable to Participant hereunder and/or withholding amounts from any compensation or other amount owing from the Company to the Participant ) to satisfy all obligations for the payment of such taxes.

9.Securities Laws.  Upon the vesting of any Restricted Shares, the Participant will make or enter into such written representations, warranties and agreements as the Committee may reasonably request in order to comply with applicable securities laws or with this Agreement.

10.Compliance with Section 409A.  The parties acknowledge and agree that, to the extent applicable, this Agreement shall be interpreted in accordance with, and the parties agree to use their best efforts to achieve timely compliance with, Section 409A of the Code and the Department of Treasury Regulations and other interpretive guidance issued thereunder ("Section 409A"), including without limitation any such regulations or other guidance that may be issued after the Grant Date.  Notwithstanding any provision of this Agreement to the contrary, in the event that the Company determines that anything provided hereunder may be subject to Section 409A, the Company reserves the right (without any obligation to do so or to indemnify the Participant for failure to do so) to adopt such limited amendments to this Agreement and appropriate policies and procedures, including amendments and policies with retroactive effect, that the Company reasonably 

	
			
	 
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determines are necessary or appropriate to (a) exempt the stock award under this Agreement from Section 409A and/or preserve the intended tax treatment of the stock award provided with respect to this Agreement or (b) comply with the requirements of Section 409A.

11.Notices.  Any notice necessary under this Agreement shall be addressed to the Company in care of its Secretary at the principal executive office of the Company and to the Participant at the address appearing in the records of the Company with respect to such Participant or to either party at such other address as either party hereto may hereafter designate in writing to the other.  Any such notice shall be deemed effective upon receipt thereof by the addressee. 

12.Choice of Law.  THE INTERPRETATION, PERFORMANCE AND ENFORCEMENT OF THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. 

13.Restricted Stock Award Subject to Plan. By accepting this Agreement and the Award evidenced hereby, the Participant agrees and acknowledges that the Participant has received and read a copy of the Plan. The Restricted Stock Award is subject to the Plan.  The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference.  In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

RALPH LAUREN CORPORATION

By: ______________________________________
NAME
TITLE

	
			
	 
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This Non-Employee Director Restricted Stock Award Agreement dated as of __________ has been accepted by, and agreed to:

__________________________________
NAME

	
			
	 
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