Document:

EX-10.14

 Exhibit 10.14 

 

RENT THE RUNWAY, INC. 

2021 EMPLOYEE STOCK PURCHASE PLAN 

ARTICLE I. 
 PURPOSE

 The purpose of this Plan is to assist Eligible Employees of the Company and its Designated Subsidiaries in acquiring a stock
ownership interest in the Company. 
 The Plan consists of two components: (i) the Section 423 Component and (ii) the Non-Section 423 Component. The Section 423 Component is intended to qualify as an “employee stock purchase plan” under Section 423 of the Code and shall be administered, interpreted and construed
in a manner consistent with the requirements of Section 423 of the Code. The Non-Section 423 Component authorizes the grant of rights which need not qualify as rights granted pursuant to an “employee
stock purchase plan” under Section 423 of the Code. Rights granted under the Non-Section 423 Component shall be granted pursuant to separate Offerings containing such
sub-plans, appendices, rules or procedures as may be adopted by the Administrator and designed to achieve tax, securities laws or other objectives for Eligible Employees and Designated Subsidiaries but shall
not be intended to qualify as an “employee stock purchase plan” under Section 423 of the Code. Except as otherwise determined by the Administrator or provided herein, the Non-Section 423
Component will operate and be administered in the same manner as the Section 423 Component. Offerings intended to be made under the Non-Section 423 Component will be designated as such by the
Administrator at or prior to the time of such Offering. 
 For purposes of this Plan, the Administrator may designate separate Offerings
under the Plan in which Eligible Employees will participate. The terms of these Offerings need not be identical, even if the dates of the applicable Offering Period(s) in each such Offering are identical, provided that the terms of participation are
the same within each separate Offering under the Section 423 Component (as determined under Section 423 of the Code). Solely by way of example and without limiting the foregoing, the Company could, but shall not be required to, provide for
simultaneous Offerings under the Section 423 Component and the Non-Section 423 Component of the Plan. 

ARTICLE II. 
 DEFINITIONS
AND CONSTRUCTION 
 Wherever the following terms are used in the Plan they shall have the meanings specified below, unless the context
clearly indicates otherwise. 
 2.1 “Administrator” means the entity that conducts the general administration of the
Plan as provided in Article XI. The term “Administrator” shall refer to the Committee unless the Board has assumed the authority for administration of the Plan as provided in Article XI. 

2.2 “Agent” means the brokerage firm, bank or other financial institution, entity or person(s), if any, engaged,
retained, appointed or authorized to act as the agent of the Company or an Employee with regard to the Plan. 
 2.3
“Applicable Law” means the requirements relating to the administration of equity incentive plans under U.S. federal and state securities, tax and other applicable laws, rules and regulations, the applicable rules of
any stock exchange or quotation system on which Shares are listed or quoted and the applicable laws and rules of any foreign country or other jurisdiction where rights under this Plan are granted. 

 2.4 “Board” means the Board of Directors of the Company. 

2.5 “Code” means the U.S. Internal Revenue Code of 1986, as amended, and the regulations issued thereunder. 

2.6 “Common Stock” means Class A common stock of the Company and such other securities of the Company that may be
substituted therefore. 
 2.7 “Company” means Rent the Runway, Inc., a Delaware corporation, or any successor. 

2.8 “Compensation” of an Eligible Employee means, unless otherwise determined by the Administrator, the gross base
compensation received by such Eligible Employee as compensation for services to the Company or any Designated Subsidiary, including prior week adjustment and overtime payments but excluding vacation pay, holiday pay, jury duty pay, funeral leave
pay, military leave pay, commissions, incentive compensation, one-time bonuses (e.g., retention or sign on bonuses), education or tuition reimbursements, travel expenses, business and moving reimbursements,
income received in connection with any stock options, stock appreciation rights, restricted stock, restricted stock units or other compensatory equity awards, fringe benefits, other special payments and all contributions made by the Company or any
Designated Subsidiary for the Employee’s benefit under any employee benefit plan now or hereafter established. 
 2.9
“Designated Subsidiary” means any Subsidiary designated by the Administrator in accordance with Section 11.2(b), such designation to specify whether such participation is in the Section 423 Component or Non-Section 423 Component. A Designated Subsidiary may participate in either the Section 423 Component or Non-Section 423 Component, but not both; provided that a
Subsidiary that, for U.S. tax purposes, is disregarded from the Company or any Subsidiary that participates in the Section 423 Component shall automatically constitute a Designated Subsidiary that participates in the Section 423 Component.

 2.10 “Effective Date” means the day prior to the Public Trading Date. 

2.11 “Eligible Employee” means: 

(a) an Employee who does not, immediately after any rights under this Plan are granted, own (directly or through attribution) stock possessing
5% or more of the total combined voting power or value of all classes of Common Stock (including Class B Common Stock) and other securities of the Company, a Parent or a Subsidiary (as determined under Section 423(b)(3) of the Code). For
purposes of the foregoing, the rules of Section 424(d) of the Code with regard to the attribution of stock ownership shall apply in determining the stock ownership of an individual, and stock that an Employee may purchase under outstanding
options shall be treated as stock owned by the Employee. 
 (b) Notwithstanding the foregoing, the Administrator may provide in an Offering
Document that an Employee shall not be eligible to participate in an Offering Period under the Section 423 Component if: (i) such Employee is a highly compensated employee within the meaning of Section 423(b)(4)(D) of the Code;
(ii) such Employee has not met a service requirement designated by the Administrator pursuant to Section 423(b)(4)(A) of the Code (which service requirement may not exceed two years); (iii) such Employee’s customary employment is for
twenty hours per week or less; (iv) such Employee’s customary employment is for less than five months in any calendar year; and/or (v) such Employee is a citizen or resident of a foreign jurisdiction and the grant of a right to
purchase Shares under the Plan to such Employee would be prohibited under the laws of such foreign jurisdiction or the grant of a right to purchase Shares under the Plan to such Employee in compliance with the laws of such foreign jurisdiction would
cause the Plan to violate the requirements of Section 423 of the Code, as determined by the Administrator in its sole discretion; provided, further, that any exclusion in clauses (i), (ii), (iii), (iv) or (v) shall be applied
in an identical manner under each Offering Period to all Employees, in accordance with Treasury Regulation Section 1.423-2(e). 

  
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 (c) Further notwithstanding the foregoing, with respect to the Non-Section 423 Component, the first sentence in this definition shall apply in determining who is an “Eligible Employee,” except (i) the Administrator may limit eligibility further within the Company
or a Designated Subsidiary so as to only designate some Employees of the Company or a Designated Subsidiary as Eligible Employees, and (ii) to the extent the restrictions in the first sentence in this definition are not consistent with
applicable local laws, the applicable local laws shall control. 
 2.12 “Employee” means any individual who renders
services to the Company or any Designated Subsidiary in the status of an employee, and, with respect to the Section 423 Component, a person who is an employee within the meaning of Section 3401(c) of the Code. For purposes of an
individual’s participation in, or other rights under the Plan, all determinations by the Company shall be final, binding and conclusive, notwithstanding that any court of law or governmental agency subsequently makes a contrary determination.
For purposes of the Plan, the employment relationship shall be treated as continuing intact while the individual is on sick leave or other leave of absence approved by the Company or Designated Subsidiary and meeting the requirements of Treasury
Regulation Section 1.421-1(h)(2). Where the period of leave exceeds three (3) months and the individual’s right to reemployment is not guaranteed either by statute or by contract, the employment
relationship shall be deemed to have terminated on the first day immediately following such three (3)-month period. 
 2.13
“Enrollment Date” means the first Trading Day of each Offering Period. 
 2.14 “Fair Market
Value” means, as of any date, the value of Shares determined as follows: (i) if the Shares are listed on any established stock exchange, its Fair Market Value will be the closing sales price for such Shares as quoted on such
exchange for such date, or if no sale occurred on such date, the last day preceding such date during which a sale occurred, as reported in The Wall Street Journal or another source the Administrator deems reliable; (ii) if the Shares are not
traded on a stock exchange but are quoted on a national market or other quotation system, the closing sales price on such date, or if no sales occurred on such date, then on the last date preceding such date during which a sale occurred, as reported
in The Wall Street Journal or another source the Administrator deems reliable; or (iii) without an established market for the Shares, the Administrator will determine the Fair Market Value in its discretion. 

2.15 “Non-Section 423 Component” means those Offerings under the Plan, together
with the sub-plans, appendices, rules or procedures, if any, adopted by the Administrator as a part of this Plan, in each case, pursuant to which rights to purchase Shares during an Offering Period may be
granted to Eligible Employees that need not satisfy the requirements for rights to purchase Shares granted pursuant to an “employee stock purchase plan” that are set forth under Section 423 of the Code. 

2.16 “Offering” means an offer under the Plan of a right to purchase Shares that may be exercised during an Offering
Period as further described in Article IV hereof. Unless otherwise specified by the Administrator, each Offering to the Eligible Employees of the Company or a Designated Subsidiary shall be deemed a separate Offering, even if the dates and other
terms of the applicable Offering Periods of each such Offering are identical, and the provisions of the Plan will separately apply to each Offering. To the extent permitted by Treas. Reg. § 1.423-2(a)(1),
the terms of each separate Offering under the Section 423 Component need not be identical, provided that the terms of the Section 423 Component and an Offering thereunder together satisfy Treas. Reg. §
1.423-2(a)(2) and (a)(3). 

  
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 2.17 “Offering Document” has the meaning given to such term in
Section 4.1. 
 2.18 “Offering Period” has the meaning given to such term in Section 4.1. 

2.19 “Parent” means any corporation, other than the Company, in an unbroken chain of corporations ending with the
Company if, at the time of the determination, each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 

2.20 “Participant” means any Eligible Employee who has executed a subscription agreement and been granted rights to
purchase Shares pursuant to the Plan. 
 2.21 “Payday” means the regular and recurring established day for payment of
Compensation to an Employee of the Company or any Designated Subsidiary. 
 2.22 “Plan” means this 2021
Employee Stock Purchase Plan, including both the Section 423 Component and Non-Section 423 Component and any other sub-plans or appendices hereto, as amended from
time to time. 
 2.23 “Public Trading Date” means the first date upon which the Class A Common Stock is
listed (or approved for listing) upon notice of issuance on any securities exchange or designated (or approved for designation) upon notice of issuance as a national market security on an interdealer quotation system. 

2.24 “Purchase Date” means the last Trading Day of each Purchase Period or such other date as determined by the
Administrator and set forth in the Offering Document. 
 2.25 “Purchase Period” means one or more periods within an
Offering Period, as designated in the applicable Offering Document; provided, however, that, in the event no Purchase Period is designated by the Administrator in the applicable Offering Document, the Purchase Period for each
Offering Period covered by such Offering Document shall be the same as the applicable Offering Period. 
 2.26 “Purchase
Price” means the purchase price designated by the Administrator in the applicable Offering Document (which purchase price, for purposes of the Section 423 Component, shall not be less than 85% of the Fair Market Value of a Share on
the Enrollment Date or on the Purchase Date, whichever is lower); provided, however, that, in the event no purchase price is designated by the Administrator in the applicable Offering Document, the purchase price for the Offering
Periods covered by such Offering Document shall be 85% of the Fair Market Value of a Share on the Enrollment Date or on the Purchase Date, whichever is lower; provided, further, that the Purchase Price may be adjusted by the
Administrator pursuant to Article VIII and shall not be less than the par value of a Share. 
 2.27
“Section 423 Component” means those Offerings under the Plan, together with the sub-plans, appendices, rules or procedures, if any, adopted by the
Administrator as a part of this Plan, in each case, pursuant to which rights to purchase Shares during an Offering Period may be granted to Eligible Employees that are intended to satisfy the requirements for rights to purchase Shares granted
pursuant to an “employee stock purchase plan” that are set forth under Section 423 of the Code. 
 2.28 “Securities
Act” means the U.S. Securities Act of 1933, as amended. 
 2.29 “Share” means a share of Common Stock.

  
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 2.30 “Subsidiary” means any corporation, other than the Company, in
an unbroken chain of corporations beginning with the Company if, at the time of the determination, each of the corporations other than the last corporation in an unbroken chain owns stock possessing 50% or more of the total combined voting power of
all classes of stock in one of the other corporations in such chain; provided, however, that a limited liability company or partnership may be treated as a Subsidiary to the extent either (a) such entity is treated as a
disregarded entity under Treasury Regulation Section 301.7701-3(a) by reason of the Company or any other Subsidiary that is a corporation being the sole owner of such entity, or (b) such entity
elects to be classified as a corporation under Treasury Regulation Section 301.7701-3(a) and such entity would otherwise qualify as a Subsidiary. In addition, with respect to the Non-Section 423 Component, Subsidiary shall include any corporate or non-corporate entity in which the Company has a direct or indirect equity interest or significant business
relationship. 
 2.31 “Trading Day” means a day on which national stock exchanges in the United States are open for
trading. 
 2.32 “Treas. Reg.” means U.S. Department of the Treasury regulations. 

ARTICLE III. 
 SHARES
SUBJECT TO THE PLAN 
 3.1 Number of Shares. Subject to Article VIII, the aggregate number of Shares that may be issued
pursuant to rights granted under the Plan shall be [•]1 Shares. In addition to the foregoing, subject to Article VIII, on the first day of each calendar year beginning on January 1, 2022
and ending on and including January 1, 2031, the number of Shares available for issuance under the Plan shall be increased by that number of Shares equal to the lesser of (a) 1 % of the aggregate number of shares of Common Stock of the
Company outstanding on the final day of the immediately preceding calendar year and (b) such smaller number of Shares as determined by the Board. If any right granted under the Plan shall for any reason terminate without having been exercised,
the Shares not purchased under such right shall again become available for issuance under the Plan. Notwithstanding anything in this Section 3.1 to the contrary, the number of Shares that may be issued or transferred pursuant to the rights
granted under the Section 423 Component of the Plan shall not exceed an aggregate of [•] Shares2, subject to Article VIII. 

3.2 Shares Distributed. Any Shares distributed pursuant to the Plan may consist, in whole or in part, of authorized and unissued Shares,
treasury shares or Shares purchased on the open market. 
 ARTICLE IV. 

OFFERING PERIODS; OFFERING DOCUMENTS; PURCHASE DATES 

4.1 Offering Periods. The Administrator may from time to time grant or provide for the grant of rights to purchase Shares under the
Plan to Eligible Employees during one or more periods (each, an “Offering Period”) selected by the Administrator. The terms and conditions applicable to each Offering Period shall be set forth in an “Offering
Document” adopted by the Administrator, which Offering Document shall be in such form and shall contain such terms and conditions as the Administrator shall deem appropriate and shall be incorporated by reference into and made part of
the Plan and shall be attached hereto as part of the Plan. The Administrator shall establish in each Offering Document one or more Purchase Periods during such Offering Period during which rights granted under the Plan shall be exercised and
purchases of Shares carried out during such Offering Period in accordance with such Offering Document and the Plan. The provisions of separate Offering Periods under the Plan need not be identical.. 

 

	1 	 Note to Draft: To be equal to 2% of common stock outstanding immediately
pre-IPO. To discuss whether Class B shares will be taken into account. 

	2 	 Note to Draft: To be equal to ten times the initial share reserve.

  
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 4.2 Offering Documents. Each Offering Document with respect to an Offering Period
shall specify (through incorporation of the provisions of this Plan by reference or otherwise): 
 (a) the length of the Offering Period,
which period shall not exceed twenty-seven months; 
 (b) the length of the Purchase Period(s) within the Offering Period; 

(c) in connection with each Offering Period that contains only one Purchase Period the maximum number of Shares that may be purchased by any
Eligible Employee during such Offering Period, which, in the absence of a contrary designation by the Administrator, shall be 2,000 Shares; 

(d) in connection with each Offering Period that contains more than one Purchase Period, the maximum aggregate number of Shares which may be
purchased by any Eligible Employee during each Purchase Period, which, in the absence of a contrary designation by the Administrator, shall be 2,000 Shares; and 

(e) such other provisions as the Administrator determines are appropriate, subject to the Plan. 

ARTICLE V. 
 ELIGIBILITY
AND PARTICIPATION 
 5.1 Eligibility. Any Eligible Employee who shall be employed by the Company or a Designated Subsidiary on a
given Enrollment Date for an Offering Period shall be eligible to participate in the Plan during such Offering Period, subject to the requirements of this Article V and, for the Section 423 Component, the limitations imposed by
Section 423(b) of the Code. 
 5.2 Enrollment in Plan. 

(a) Except as otherwise set forth in an Offering Document or determined by the Administrator, an Eligible Employee may become a Participant in
the Plan for an Offering Period by delivering a subscription agreement to the Company by such time prior to the Enrollment Date for such Offering Period (or such other date specified in the Offering Document) designated by the Administrator and in
such form as the Company provides. 
 (b) Each subscription agreement shall designate a whole percentage of such Eligible Employee’s
Compensation to be withheld by the Company or the Designated Subsidiary employing such Eligible Employee on each Payday during the Offering Period as payroll deductions under the Plan. The percentage of Compensation designated by an Eligible
Employee may not be less than 1% and may not be more than the maximum percentage specified by the Administrator in the applicable Offering Document (which percentage shall be 15% in the absence of any such designation) as payroll deductions. The
payroll deductions made for each Participant shall be credited to an account for such Participant under the Plan and shall be deposited with the general funds of the Company. 

  
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 (c) A Participant may increase or decrease the percentage of Compensation designated in his
or her subscription agreement, subject to the limits of this Section 5.2, or may suspend his or her payroll deductions, at any time during an Offering Period; provided, however, that the Administrator may limit the number of
changes a Participant may make to his or her payroll deduction elections during each Offering Period in the applicable Offering Document (and in the absence of any specific designation by the Administrator, a Participant shall be allowed to decrease
and/or suspend (but not increase) his or her payroll deduction elections one time during each Offering Period). Any such change or suspension of payroll deductions shall be effective with the first full payroll period following five business days
after the Company’s receipt of the new subscription agreement (or such shorter or longer period as may be specified by the Administrator in the applicable Offering Document). In the event a Participant suspends his or her payroll deductions,
such Participant’s cumulative payroll deductions prior to the suspension shall remain in his or her account and shall be applied to the purchase of Shares on the next occurring Purchase Date and shall not be paid to such Participant unless he
or she withdraws from participation in the Plan pursuant to Article VII. 
 (d) Except as otherwise set forth in an Offering Document or
determined by the Administrator, a Participant may participate in the Plan only by means of payroll deduction and may not make contributions by lump sum payment for any Offering Period. 

5.3 Payroll Deductions. Except as otherwise provided in the applicable Offering Document, payroll deductions for a Participant shall
commence on the first Payday following the Enrollment Date and shall end on the last Payday in the Offering Period to which the Participant’s authorization is applicable, unless sooner terminated by the Participant as provided in
Article VII or suspended by the Participant or the Administrator as provided in Section 5.2 and Section 5.6, respectively. Notwithstanding any other provisions of the Plan to the contrary, in
non-U.S. jurisdictions where participation in the Plan through payroll deductions is prohibited, the Administrator may provide that an Eligible Employee may elect to participate through contributions to the
Participant’s account under the Plan in a form acceptable to the Administrator in lieu of or in addition to payroll deductions; provided, however, that, for any Offering under the Section 423 Component, the Administrator
shall take into consideration any limitations under Section 423 of the Code when applying an alternative method of contribution. 
 5.4
Effect of Enrollment. A Participant’s completion of a subscription agreement will enroll such Participant in the Plan for each subsequent Offering Period on the terms contained therein until the Participant either submits a new
subscription agreement, withdraws from participation under the Plan as provided in Article VII or otherwise becomes ineligible to participate in the Plan. 

5.5 Limitation on Purchase of Shares. An Eligible Employee may be granted rights under the Section 423 Component only if
such rights, together with any other rights granted to such Eligible Employee under “employee stock purchase plans” of the Company, any Parent or any Subsidiary, as specified by Section 423(b)(8) of the Code, do not permit such
employee’s rights to purchase stock of the Company or any Parent or Subsidiary to accrue at a rate that exceeds $25,000 of the fair market value of such stock (determined as of the first day of the Offering Period during which such rights are
granted) for each calendar year in which such rights are outstanding at any time. This limitation shall be applied in accordance with Section 423(b)(8) of the Code. 

5.6 Suspension of Payroll Deductions. Notwithstanding the foregoing, to the extent necessary to comply with Section 423(b)(8) of
the Code and Section 5.5 (with respect to the Section 423 Component) or the other limitations set forth in this Plan, a Participant’s payroll deductions may be suspended by the Administrator at any time during an Offering Period. The
balance of the amount credited to the account of each Participant that has not been applied to the purchase of Shares by reason of Section 423(b)(8) of the Code, Section 5.5 or the other limitations set forth in this Plan shall be paid to
such Participant in one lump sum in cash as soon as reasonably practicable after the Purchase Date. 

  
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 5.7 Foreign Employees. In order to facilitate participation in the Plan, the
Administrator may provide for such special terms applicable to Participants who are citizens or residents of a foreign jurisdiction, or who are employed by a Designated Subsidiary outside of the United States, as the Administrator may consider
necessary or appropriate to accommodate differences in local law, tax policy or custom. Except as permitted by Section 423 of the Code, with respect to the Section 423 Component, such special terms may not be more favorable than the terms
of rights granted under the Section 423 Component to Eligible Employees who are residents of the United States. Such special terms may be set forth in an addendum to the Plan in the form of an appendix or
sub-plan (which appendix or sub-plan may be designed to govern Offerings under the Section 423 Component or the Non-Section
423 Component, as determined by the Administrator). To the extent that the terms and conditions set forth in an appendix or sub-plan conflict with any provisions of the Plan, the provisions of the appendix or sub-plan shall govern. The adoption of any such appendix or sub-plan shall be pursuant to Section 11.2(g). Without limiting the foregoing, the Administrator is
specifically authorized to adopt rules and procedures, with respect to Participants who are foreign nationals or employed in non-U.S. jurisdictions, regarding the exclusion of particular Subsidiaries from
participation in the Plan, eligibility to participate, the definition of Compensation, handling of payroll deductions or other contributions by Participants, payment of interest, conversion of local currency, data privacy security, payroll tax,
withholding procedures, establishment of bank or trust accounts to hold payroll deductions or contributions. 
 5.8 Leave of Absence.
During leaves of absence approved by the Company meeting the requirements of Treasury Regulation Section 1.421-1(h)(2) under the Code, a Participant may continue participation in the Plan by making cash
payments to the Company on his or her normal Payday equal to the Participant’s authorized payroll deduction. 
 ARTICLE VI. 

GRANT AND EXERCISE OF RIGHTS 

6.1 Grant of Rights. On the Enrollment Date of each Offering Period, each Eligible Employee participating in such Offering Period shall
be granted a right to purchase the maximum number of Shares specified under Section 4.2, subject to the limits in Section 5.5, and shall have the right to buy, on each Purchase Date during such Offering Period (at the applicable Purchase
Price), such number of whole Shares as is determined by dividing (a) such Participant’s payroll deductions accumulated prior to such Purchase Date and retained in the Participant’s account as of the Purchase Date, by (b) the
applicable Purchase Price (rounded down to the nearest Share). The right shall expire on the earliest of: (x) the last Purchase Date of the Offering Period, (y) the last day of the Offering Period, and (z) the date on which the
Participant withdraws in accordance with Section 7.1 or Section 7.3. 
 6.2 Exercise of Rights. On each Purchase Date, each
Participant’s accumulated payroll deductions and any other additional payments specifically provided for in the applicable Offering Document will be applied to the purchase of whole Shares, up to the maximum number of Shares permitted pursuant
to the terms of the Plan and the applicable Offering Document, at the Purchase Price. No fractional Shares shall be issued upon the exercise of rights granted under the Plan, unless the Offering Document specifically provides otherwise. Any cash in
lieu of fractional Shares remaining after the purchase of whole Shares upon exercise of a purchase right will be credited to a Participant’s account and carried forward and applied toward the purchase of whole Shares for the next following
Offering Period. Shares issued pursuant to the Plan may be evidenced in such manner as the Administrator may determine and may be issued in certificated form or issued pursuant to book-entry procedures. 

  
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 6.3 Pro Rata Allocation of Shares. If the Administrator determines that, on a given
Purchase Date, the number of Shares with respect to which rights are to be exercised may exceed (a) the number of Shares that were available for issuance under the Plan on the Enrollment Date of the applicable Offering Period, or (b) the
number of Shares available for issuance under the Plan on such Purchase Date, the Administrator may in its sole discretion provide that the Company shall make a pro rata allocation of the Shares available for purchase on such Enrollment Date or
Purchase Date, as applicable, in as uniform a manner as shall be practicable and as it shall determine in its sole discretion to be equitable among all Participants for whom rights to purchase Shares are to be exercised pursuant to this
Article VI on such Purchase Date, and shall either (i) continue all Offering Periods then in effect, or (ii) terminate any or all Offering Periods then in effect pursuant to Article IX. The Company may make pro rata allocation of
the Shares available on the Enrollment Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional Shares for issuance under the Plan by the Company’s stockholders subsequent to
such Enrollment Date. The balance of the amount credited to the account of each Participant that has not been applied to the purchase of Shares shall be paid to such Participant in one lump sum in cash as soon as reasonably practicable after the
Purchase Date or such earlier date as determined by the Administrator. 
 6.4 Withholding. At the time a Participant’s rights
under the Plan are exercised, in whole or in part, or at the time some or all of the Shares issued under the Plan is disposed of, the Participant must make adequate provision for the Company’s federal, state, or other tax withholding
obligations, if any, that arise upon the exercise of the right or the disposition of the Shares. At any time, the Company may, but shall not be obligated to, withhold from the Participant’s compensation or Shares received pursuant to the Plan
the amount necessary for the Company to meet applicable withholding obligations, including any withholding required to make available to the Company any tax deductions or benefits attributable to sale or early disposition of Shares by the
Participant.  
 6.5 Conditions to Issuance of Shares. The Company shall not be required to issue or deliver any certificate or
certificates for, or make any book entries evidencing, Shares purchased upon the exercise of rights under the Plan prior to fulfillment of all of the following conditions: (a) the admission of such Shares to listing on all stock exchanges, if
any, on which the Shares are then listed; (b) the completion of any registration or other qualification of such Shares under any state or federal law or under the rulings or regulations of the Securities and Exchange Commission or any other
governmental regulatory body, that the Administrator shall, in its absolute discretion, deem necessary or advisable; (c) the obtaining of any approval or other clearance from any state or federal governmental agency that the Administrator
shall, in its absolute discretion, determine to be necessary or advisable; (d) the payment to the Company of all amounts that it is required to withhold under federal, state or local law upon exercise of the rights, if any; and (e) the
lapse of such reasonable period of time following the exercise of the rights as the Administrator may from time to time establish for reasons of administrative convenience. 

ARTICLE VII. 

WITHDRAWAL; CESSATION OF ELIGIBILITY 

7.1 Withdrawal. A Participant may withdraw all but not less than all of the payroll deductions credited to his or her account and not
yet used to exercise his or her rights under the Plan at any time by giving written notice to the Company in a form acceptable to the Company no later than one week prior to the end of the Offering Period or, if earlier, the end of the Purchase
Period (or such shorter or longer period as may be specified by the Administrator in the applicable Offering Document). All of the Participant’s payroll deductions credited to his or her account during an Offering Period shall be paid to such
Participant as soon as reasonably practicable after receipt of notice of withdrawal without any interest thereon (except as may be required by applicable local laws) and such Participant’s rights for the Offering Period shall be automatically
terminated, and no further payroll deductions for the purchase of Shares shall be made for such Offering Period. If a Participant withdraws from an Offering Period, payroll deductions shall not resume at the beginning of the next Offering Period
unless the Participant timely delivers to the Company a new subscription agreement. 

  
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 7.2 Future Participation. A Participant’s withdrawal from an Offering Period
shall not have any effect upon his or her eligibility to participate in any similar plan that may hereafter be adopted by the Company or a Designated Subsidiary or in subsequent Offering Periods that commence after the termination of the Offering
Period from which the Participant withdraws. 
 7.3 Cessation of Eligibility. Upon a Participant’s ceasing to be an Eligible
Employee for any reason, he or she shall be deemed to have elected to withdraw from the Plan pursuant to this Article VII and the payroll deductions credited to such Participant’s account during the Offering Period shall be paid to such
Participant or, in the case of his or her death, to the person or persons entitled thereto under Section 12.4, as soon as reasonably practicable without any interest thereon (except as may be required by applicable local laws), and such
Participant’s rights for the Offering Period shall be automatically terminated. If a Participant transfers employment from the Company or any Designated Subsidiary participating in the Section 423 Component to any Designated Subsidiary
participating in the Non-Section 423 Component, such transfer shall not be treated as a termination of employment, but the Participant shall immediately cease to participate in the Section 423 Component;
however, any contributions made for the Offering Period in which such transfer occurs shall be transferred to the Non-Section 423 Component, and such Participant shall immediately join the then-current
Offering under the Non-Section 423 Component upon the same terms and conditions in effect for the Participant’s participation in the Section 423 Component, except for such modifications otherwise
applicable for Participants in such Offering. A Participant who transfers employment from any Designated Subsidiary participating in the Non-Section 423 Component to the Company or any Designated Subsidiary
participating in the Section 423 Component shall not be treated as terminating the Participant’s employment and shall remain a Participant in the Non-Section 423 Component until the earlier of
(i) the end of the current Offering Period under the Non-Section 423 Component or (ii) the Enrollment Date of the first Offering Period in which the Participant is eligible to participate following
such transfer. Notwithstanding the foregoing, the Administrator may establish different rules to govern transfers of employment between entities participating in the Section 423 Component and the
Non-Section 423 Component, consistent with the applicable requirements of Section 423 of the Code. 

ARTICLE VIII. 

ADJUSTMENTS UPON CHANGES IN SHARES 

8.1 Changes in Capitalization. Subject to Section 8.3, in the event that the Administrator determines that any dividend or other
distribution (whether in the form of cash, Shares, other securities, or other property), change in control, reorganization, merger, amalgamation, consolidation, combination, repurchase, redemption, recapitalization, liquidation, dissolution, or
sale, transfer, exchange or other disposition of all or substantially all of the assets of the Company, or sale or exchange of Shares or other securities of the Company, issuance of warrants or other rights to purchase Shares or other securities of
the Company, or other similar corporate transaction or event, as determined by the Administrator, affects the Shares such that an adjustment is determined by the Administrator to be appropriate in order to prevent dilution or enlargement of the
benefits or potential benefits intended by the Company to be made available under the Plan or with respect to any outstanding purchase rights under the Plan, the Administrator shall make equitable adjustments, if any, to reflect such change with
respect to (a) the aggregate number and type of Shares (or other securities or property) that may be issued under the Plan (including, but not limited to, adjustments of the limitations in Section 3.1 and the limitations established in
each Offering Document pursuant to Section 4.2 on the maximum number of Shares that may be purchased); (b) the class(es) and number of Shares and price per Share subject to outstanding rights; and (c) the Purchase Price with respect to any
outstanding rights. 

  
 10 

 8.2 Other Adjustments. Subject to Section 8.3, in the event of any transaction
or event described in Section 8.1 or any unusual or nonrecurring transactions or events affecting the Company, any affiliate of the Company, or the financial statements of the Company or any affiliate, or of changes in Applicable Law or
accounting principles, the Administrator, in its discretion, and on such terms and conditions as it deems appropriate, is hereby authorized to take any one or more of the following actions whenever the Administrator determines that such action is
appropriate in order to prevent the dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan or with respect to any right under the Plan, to facilitate such transactions or events or to give effect
to such changes in laws, regulations or principles: 
 (a) To provide for either (i) termination of any outstanding right in exchange
for an amount of cash, if any, equal to the amount that would have been obtained upon the exercise of such right had such right been currently exercisable or (ii) the replacement of such outstanding right with other rights or property selected
by the Administrator in its sole discretion; 
 (b) To provide that the outstanding rights under the Plan shall be assumed by the successor
or survivor corporation, or a parent or subsidiary thereof, or shall be substituted for by similar rights covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number
and kind of shares and prices; 
 (c) To make adjustments in the number and type of Shares (or other securities or property) subject to
outstanding rights under the Plan and/or in the terms and conditions of outstanding rights and rights that may be granted in the future; 

(d) To provide that Participants’ accumulated payroll deductions may be used to purchase Shares prior to the next occurring Purchase Date
on such date as the Administrator determines in its sole discretion and the Participants’ rights under the ongoing Offering Period(s) shall be terminated; and 

(e) To provide that all outstanding rights shall terminate without being exercised. 

8.3 No Adjustment Under Certain Circumstances. Unless determined otherwise by the Administrator, no adjustment or action described in
this Article VIII or in any other provision of the Plan shall be authorized to the extent that such adjustment or action would cause the Section 423 Component of the Plan to fail to satisfy the requirements of Section 423 of the Code.

 8.4 No Other Rights. Except as expressly provided in the Plan, no Participant shall have any rights by reason of any subdivision or
consolidation of shares of stock of any class, the payment of any dividend, any increase or decrease in the number of shares of stock of any class or any dissolution, liquidation, merger, or consolidation of the Company or any other corporation.
Except as expressly provided in the Plan or pursuant to action of the Administrator under the Plan, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no
adjustment by reason thereof shall be made with respect to, the number of Shares subject to outstanding rights under the Plan or the Purchase Price with respect to any outstanding rights. 

ARTICLE IX. 
 AMENDMENT,
MODIFICATION AND TERMINATION 
 9.1 Amendment, Modification and Termination. The Administrator may amend, suspend or terminate
the Plan at any time and from time to time; provided, however, that approval of the Company’s stockholders shall be required to amend the Plan to: (a) increase the aggregate number, or change the type, of shares that
may be sold pursuant to rights under the Plan under Section 3.1 (other than an adjustment as provided by Article VIII) or (b) change the corporations or classes of corporations whose employees may be granted rights under the Plan.

  
 11 

 9.2 Certain Changes to Plan. Without stockholder consent and without regard to
whether any Participant rights may be considered to have been adversely affected (and, with respect to the Section 423 Component of the Plan, after taking into account Section 423 of the Code), the Administrator shall be entitled to change
or terminate the Offering Periods, limit the frequency and/or number of changes in the amount withheld from Compensation during an Offering Period, establish the exchange ratio applicable to amounts withheld in a currency other than U.S. dollars,
permit payroll withholding in excess of the amount designated by a Participant in order to adjust for delays or mistakes in the Company’s processing of payroll withholding elections, establish reasonable waiting and adjustment periods and/or
accounting and crediting procedures to ensure that amounts applied toward the purchase of Shares for each Participant properly correspond with amounts withheld from the Participant’s Compensation, and establish such other limitations or
procedures as the Administrator determines in its sole discretion to be advisable that are consistent with the Plan. 
 9.3 Actions In the
Event of Unfavorable Financial Accounting Consequences. In the event the Administrator determines that the ongoing operation of the Plan may result in unfavorable financial accounting consequences, the Administrator may, in its discretion and,
to the extent necessary or desirable, modify or amend the Plan to reduce or eliminate such accounting consequence including, but not limited to: 

(a) altering the Purchase Price for any Offering Period including an Offering Period underway at the time of the change in Purchase Price; 

(b) shortening any Offering Period so that the Offering Period ends on a new Purchase Date, including an Offering Period underway at the time
of the Administrator action; and 
 (c) allocating Shares. 

Such modifications or amendments shall not require stockholder approval or the consent of any Participant. 

9.4 Payments Upon Termination of Plan. Upon termination of the Plan, the balance in each Participant’s Plan account shall be
refunded as soon as practicable after such termination, without any interest thereon, or the Offering Period may be shortened so that the purchase of Shares occurs prior to the termination of the Plan. 

ARTICLE X. 
 TERM OF PLAN

 The Plan shall become effective on the Effective Date. The effectiveness of the Section 423 Component of the Plan shall be
subject to approval of the Plan by the Company’s stockholders within twelve months following the date the Plan is first approved by the Board. No right may be granted under the Section 423 Component of the Plan prior to such stockholder
approval. The Plan shall remain in effect until terminated under Section 9.1. No rights may be granted under the Plan during any period of suspension of the Plan or after termination of the Plan. 

ARTICLE XI. 

ADMINISTRATION 
 11.1
Administrator. Unless otherwise determined by the Board, the Administrator of the Plan shall be the Compensation Committee of the Board (or another committee or a subcommittee of the Board to which the Board delegates administration of the
Plan). The Board may at any time vest in the Board any authority or duties for administration of the Plan. The Administrator may delegate administrative tasks under the Plan to the services of an Agent or Employees to assist in the administration of
the Plan, including establishing and maintaining an individual securities account under the Plan for each Participant. 

  
 12 

 11.2 Authority of Administrator. The Administrator shall have the power, subject to,
and within the limitations of, the express provisions of the Plan: 
 (a) To determine when and how rights to purchase Shares shall be
granted and the provisions of each offering of such rights (which need not be identical). 
 (b) To designate from time to time which
Subsidiaries of the Company shall be Designated Subsidiaries, which designation may be made without the approval of the stockholders of the Company. 

(c) To impose a mandatory holding period pursuant to which Employees may not dispose of or transfer Shares purchased under the Plan for a
period of time determined by the Administrator in its discretion. 
 (d) To construe and interpret the Plan and rights granted under it, and
to establish, amend and revoke rules and regulations for its administration. The Administrator, 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. 
 (e) To amend, suspend or terminate the Plan as provided in Article IX. 

(f) Generally, to exercise such powers and to perform such acts as the Administrator deems necessary or expedient to promote the best interests
of the Company and its Subsidiaries and to carry out the intent that the Plan be treated as an “employee stock purchase plan” within the meaning of Section 423 of the Code for the Section 423 Component. 

(g) The Administrator may adopt sub-plans applicable to particular Designated Subsidiaries or
locations, which sub-plans may be designed to be outside the scope of Section 423 of the Code. The rules of such sub-plans may take precedence over other provisions
of this Plan, with the exception of Section 3.1 hereof, but unless otherwise superseded by the terms of such sub-plan, the provisions of this Plan shall govern the operation of such sub-plan. 

11.3 Decisions Binding. The Administrator’s interpretation of the Plan, any rights granted pursuant to the Plan, any subscription
agreement and all decisions and determinations by the Administrator with respect to the Plan are final, binding, and conclusive on all parties. 

ARTICLE XII. 

MISCELLANEOUS 
 12.1
Restriction upon Assignment. A right granted under the Plan shall not be transferable other than by will or the applicable laws of descent and distribution, and is exercisable during the Participant’s lifetime only by the
Participant. Except as provided in Section 12.4 hereof, a right under the Plan may not be exercised to any extent except by the Participant. The Company shall not recognize and shall be under no duty to recognize any assignment or alienation of
the Participant’s interest in the Plan, the Participant’s rights under the Plan or any rights thereunder. 

  
 13 

 12.2 Rights as a Stockholder. With respect to Shares subject to a right granted under
the Plan, a Participant shall not be deemed to be a stockholder of the Company, and the Participant shall not have any of the rights or privileges of a stockholder, until such Shares have been issued to the Participant or his or her nominee
following exercise of the Participant’s rights under the Plan. No adjustments shall be made for dividends (ordinary or extraordinary, whether in cash securities, or other property) or distribution or other rights for which the record date
occurs prior to the date of such issuance, except as otherwise expressly provided herein or as determined by the Administrator. 
 12.3
Interest. No interest shall accrue on the payroll deductions or contributions of a Participant under the Plan. 
 12.4 Designation
of Beneficiary. 
 (a) A Participant may, in the manner determined by the Administrator, file a written designation of a beneficiary who
is to receive any Shares and/or cash, if any, from the Participant’s account under the Plan in the event of such Participant’s death subsequent to a Purchase Date on which the Participant’s rights are exercised but prior to delivery
to such Participant of such Shares and cash. In addition, a Participant may file a written designation of a beneficiary who is to receive any cash from the Participant’s account under the Plan in the event of such Participant’s death prior
to exercise of the Participant’s rights under the Plan. If the Participant is married and resides in a community property state, a designation of a person other than the Participant’s spouse as his or her beneficiary shall not be effective
without the prior written consent of the Participant’s spouse. 
 (b) Such designation of beneficiary may be changed by the Participant
at any time by written notice to the Company. In the event of the death of a Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant’s death, the Company shall deliver such
Shares and/or cash to the executor or administrator of the estate of the Participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such Shares and/or cash
to the spouse or to any one or more dependents or relatives of the Participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 

12.5 Notices. All notices or other communications by a Participant to the Company under or in connection with the Plan shall be deemed
to have been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company for the receipt thereof. 

12.6 Equal Rights and Privileges. Subject to Section 5.7, all Eligible Employees will have equal rights and privileges under the
Section 423 Component so that the Section 423 Component of this Plan qualifies as an “employee stock purchase plan” within the meaning of Section 423 of the Code. Subject to Section 5.7, any provision of the
Section 423 Component that is inconsistent with Section 423 of the Code will, without further act or amendment by the Company, the Board or the Administrator, be reformed to comply with the equal rights and privileges requirement of
Section 423 of the Code. Eligible Employees participating in the Non-Section 423 Component need not have the same rights and privileges as other Eligible Employees participating in the Non-Section 423 Component or as Eligible Employees participating in the Section 423 Component. 
 12.7
Use of Funds. All payroll deductions received or held by the Company under the Plan may be used by the Company for any corporate purpose, and the Company shall not be obligated to segregate such payroll deductions. 

  
 14 

 12.8 Reports. Statements of account shall be given to Participants at least annually,
which statements shall set forth the amounts of payroll deductions, the Purchase Price, the number of Shares purchased and the remaining cash balance, if any. 

12.9 No Employment Rights. Nothing in the Plan shall be construed to give any person (including any Eligible Employee or Participant)
the right to remain in the employ of the Company or any Parent or Subsidiary or affect the right of the Company or any Parent or Subsidiary to terminate the employment of any person (including any Eligible Employee or Participant) at any time, with
or without cause. 
 12.10 Notice of Disposition of Shares. Each Participant shall give prompt notice to the Company of any
disposition or other transfer of any Shares purchased upon exercise of a right under the Section 423 Component of the Plan if such disposition or transfer is made: (a) within two years from the Enrollment Date of the Offering Period in
which the Shares were purchased or (b) within one year after the Purchase Date on which such Shares were purchased. Such notice shall specify the date of such disposition or other transfer and the amount realized, in cash, other property,
assumption of indebtedness or other consideration, by the Participant in such disposition or other transfer. 
 12.11 Governing Law.
The Plan and any agreements hereunder shall be administered, interpreted and enforced in accordance with the laws of the State of Delaware, disregarding any state’s choice of law principles requiring the application of a jurisdiction’s
laws other than the State of Delaware. 
 12.12 Electronic Forms. To the extent permitted by Applicable Law and in the discretion of
the Administrator, an Eligible Employee may submit any form or notice as set forth herein by means of an electronic form approved by the Administrator. Before the commencement of an Offering Period, the Administrator shall prescribe the time limits
within which any such electronic form shall be submitted to the Administrator with respect to such Offering Period in order to be a valid election. 

* * * * * 

  
 15EX-10.15

 Exhibit 10.15 

EXECUTION VERSION 

PRIVILEGED AND CONFIDENTIAL 

RENT THE RUNWAY, INC. 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) is executed as of October 5, 2021, between RENT THE
RUNWAY, INC., a Delaware corporation (together with its predecessors and successors, the “Company”), and JENNIFER Y. HYMAN (the “Employee”). This Agreement shall be effective as of the date of closing of the
initial public offering of the Company (the “IPO”) or such other date mutually agreed in writing between the parties (such date, the “Effective Date”) and shall amend and restate in its entirety that certain
Employment Agreement, dated as of July 6, 2015, by and between the Company and the Employee, as amended by that certain Employment Agreement Amendment, dated as of November 20, 2020 (collectively, the “Original
Agreement”). 
 W I T N E S E T H 

WHEREAS, the Company employs, and desires to continue to employ, the Employee as its Co-Founder
and Chief Executive Officer; 
 WHEREAS, the Company and the Employee are currently parties to the Original Agreement; and 

WHEREAS, the Company and the Employee desire to amend and restate the Original Agreement on the terms herein provided, effective as of
the Effective Date. 
 NOW, THEREFORE, in consideration of the foregoing, of the mutual promises contained herein and of other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

1. Position; Duties; Term; Place of Employment. 

(a) During the Term (as defined below), the Employee shall serve as the Co-Founder and Chief Executive
Officer of the Company. In this capacity, the Employee shall have all of the duties and responsibilities customarily rendered by a co-founder and chief executive officer in companies of similar size and
nature, and such other duties, authorities and responsibilities as the Company’s Board of Directors (the “Board”) shall designate from time to time that are not inconsistent with the Employee’s position as the Co-Founder and Chief Executive Officer of the Company. Notwithstanding the above, and subject only to the authority of the Board, the Employee shall have final executive
decision-making authority over all Company matters. The Employee shall report directly and solely to the Board. In addition, the Employee shall serve as a member of the Board as of the Effective Date and
during the Term the Company shall nominate the Employee for a seat on the Board upon the expiration of the Employee’s initial term as a director hereunder and upon the expiration of each subsequent term thereafter. 

 (b) During the Term, and excluding any periods of vacation and sick leave to which the
Employee may be entitled, the Employee shall devote substantially all of the Employee’s business time, energy and skill and the Employee’s reasonable best efforts to the performance of the Employee’s duties with the Company,
provided that the foregoing shall not prevent the Employee from (i) serving on the board of directors of a corporation or any other entity the primary business of which is not competitive with the Company, (ii) participating in
charitable, civic, educational, professional, community or industry affairs, (iii) managing the Employee’s personal investments and (iv) exploiting the Employee’s personal media rights to the extent permitted by the terms of this
Agreement, in each case, so long as such activities in the aggregate do not materially interfere or conflict with the Employee’s duties hereunder or create a fiduciary conflict. 

(c) The initial term (the “Initial Term”) of the Employee’s employment hereunder shall commence on the Effective Date and
end on the third anniversary of the Effective Date. The Initial Term shall automatically be extended for successive one-year periods (each, an “Extension Term” and, together with the Initial
Term, the “Term”), unless either the Employee or the Company gives written notice of non-extension to the other party no later than ninety (90) days prior to the expiration of the
then-applicable Term, in which case the Employee’s employment will terminate at the end of the then-applicable Term, subject to earlier termination in accordance with Section 6 hereof. Notwithstanding the foregoing, in the event of the
Employee’s voluntary transition (the “Transition”) into the role of (i) Executive Chair of the Board, or (ii) an officer of the Company other than the Chief Executive Officer, then, in each case, this Agreement shall
continue in force following the effective date of the Transition through the end of the Fiscal Year (as defined below) in which such Transition occurs and, for the avoidance of doubt, the Employee will be eligible to receive through the end of such
Fiscal Year (w) her Salary at the rate in effect immediately prior to the date of the Transaction, (x) annual equity awards that would otherwise be granted to Employee in the ordinary course with respect to such Fiscal Year (to the extent
not granted on or prior to the date of the Transition), (y) any Annual Bonus otherwise earned pursuant to the Company’s applicable annual incentive plan or arrangement with respect to the Fiscal Year in which the Transition occurs, regardless
of whether such Annual Bonus is paid on or prior to, or following, the end of such Fiscal Year), and (z) in the event of a termination of employment pursuant to Section 6(a)(i) or Section 6(c)(i) prior to the end of such Fiscal Year,
the severance benefits payable to Employee pursuant to this Agreement (including, for the avoidance of the doubt, any severance payable on or in connection with a Change of Control) (“Severance”). 

Following the end of such Fiscal Year, the terms of this Agreement shall continue to apply to Employee in her role as Executive Chair either
pursuant to an amendment to this Agreement or in a new Executive Chair Agreement, as determined by the Compensation Committee of the Board (the “Compensation Committee”) in its discretion; provided, that, notwithstanding the
foregoing, the terms related to Salary, Annual Bonus, and Severance (other than the Vesting Acceleration (as defined below), which shall remain in effect following the end of such Fiscal Year in which the Transition occurs) shall be guaranteed only
through the end of such Fiscal Year and shall not continue to apply following the end of such Fiscal Year in which the Transition occurs, but may be revised, including pursuant to such amendment to this Agreement or new Executive Chair Agreement.

  
 2 

 (d) During the Term, the Employee’s primary office and principal workplace shall be the
Company’s executive offices in New York City, subject to necessary travel on the Company’s business. 
 2. Salary. In
consideration of the Employee’s fulfillment of Employee’s duties and responsibilities hereunder, the Company agrees to pay the Employee during the Term a salary (the “Salary”) at an annual rate of $650,000, payable in
accordance with the regular payroll practices of the Company, but not less frequently than monthly. The Salary is subject to review no less than annually for possible increase, but not decrease, by the Board or its authorized committee. 

3. Annual Bonus. The Employee shall be eligible to receive an annual bonus for each Fiscal Year of the Company (a “Fiscal
Year”), or portion of a Fiscal Year, during the Term (the “Annual Bonus”) pursuant to the terms of the Company’s applicable annual incentive plan or arrangement as established by the Compensation Committee in its
discretion, as in effect from time to time, which shall not be inconsistent with the terms of this Agreement. With respect to Fiscal Year 2021, the Employee’s target Annual Bonus (the “Target Bonus”) shall be 100% of the Salary
as in effect on the last day of the applicable Fiscal Year. The actual Annual Bonus for Fiscal Year 2021 may range from 0% to 150% of such Salary. With respect to each Fiscal Year during the Term following Fiscal Year 2021, the Target Bonus
shall be 50% of the Salary as in effect on the last day of the applicable Fiscal Year, with the actual Annual Bonus ranging from 0% to 120% of such Salary (or such higher amount as may be determined by the Compensation Committee). The calculation of
the actual Annual Bonus payable to the Employee will be based upon the level of achievement of performance metrics approved by the Board or its authorized committee after consultation with the Employee (and as communicated to the Employee not later
than the 90th day of the applicable Fiscal Year). Each earned Annual Bonus shall be paid in cash on the date on which annual bonuses are paid to senior executives of the Company generally, but not later than two and a half months after the end of
the Fiscal Year for which the Annual Bonus is awarded, unless the Employee shall elect to defer the receipt of such Annual Bonus pursuant to an arrangement that meets the requirements of Section 409A of the Internal Revenue Code of 1986, as
amended (the “Code”). 
 4. Equity Awards. 

(a) Incentive Equity Awards. During the Term, the Employee will be eligible to participate in the Company’s equity incentive
plan(s) then in effect and receive annual equity awards thereunder, as determined by the Board or the Compensation Committee in its sole discretion and subject to the terms of the Company’s equity incentive plan then in effect and an applicable
award agreement. 
 (b) IPO RSU Award. Effective upon the consummation of the IPO, the Employee shall be granted 67,842 restricted
stock units under the Company’s then-current equity plan (the “IPO RSU Award”) subject to the approval of the Board or the Compensation Committee, which shall vest over four (4) years as follows: 25% of the restricted
stock units subject to the IPO RSU Award shall vest on the date of grant and 6.25% of the restricted stock units subject to the IPO RSU Award shall vest on each quarterly anniversary of the grant date thereafter, subject to the Employee’s
continued service through each applicable vesting date. 

  
 3 

 
The terms of the IPO RSU Award shall be governed by the Rent the Runway, Inc. 2021 Incentive Award Plan (the “2021 Plan”) (or such other plan as may be in effect at the Company
for the grant of equity awards) and the applicable award agreement. For the avoidance of doubt, the grant of the IPO RSU Award shall be in satisfaction of, and not in addition to, that certain letter to the Employee, dated as of May 4, 2021,
relating to the same matter (the “IPO RSU Letter”). 
 (c) Terms and Conditions of Equity Awards. The following terms
and conditions shall be applicable to any outstanding stock options (“Options”) to purchase shares of the Company’s Class A and/or Class B common stock (“Shares”), restricted Shares and other equity-based incentive awards in the Company, including, without limitation, the IPO RSU Award and that certain Option to purchase 1,017,600 Shares granted to the Employee on March 25, 2021 (in each case to the
extent then-outstanding), (collectively, “Equity Awards”) held by the Employee at the applicable time, notwithstanding any contrary provisions in the Rent the Runway, Inc. 2009 Stock Incentive Plan (the “2009
Plan”), the Rent the Runway, Inc. 2019 Stock Incentive Plan (the “2019 Plan” and, together with the 2009 Plan and the 2021 Plan, in each case as may be amended from time to time, the “Equity Plans”) or any
award agreement: 
 (i) The Employee may elect to satisfy the payment of the aggregate exercise price with respect to the exercise of any
Option by instructing the Company to withhold a number of Shares otherwise deliverable pursuant to such exercise, rounded up to the nearest whole share, having an aggregate “Fair Market Value” (as such term or similar term is defined in
the applicable Equity Plan) at the time of exercise equal to the product of (a) the exercise price per Share of the Option being exercised multiplied by (b) the number of Shares in respect of which the Option is being exercised. 

(ii) If the Employee exercises an Option or any other Equity Award is settled pursuant to its terms following the Employee’s termination
of employment with the Company by either the Company or the Employee for any reason other than a termination by the Company for “Cause” (as defined below), the Board shall permit the Employee to satisfy the payment of up to the maximum
required withholding for federal, state, local or foreign income or employment or other taxes in respect of such exercise or settlement (the “Tax Amount”) by (A) delivery (including electronically or telephonically to the
extent permitted by the Company) of an irrevocable and unconditional undertaking by a broker acceptable to the Company to deliver promptly to the Company sufficient funds to satisfy the Tax Amount, or (B) delivery by the Employee to the Company
of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company to deliver promptly to the Company cash or a check sufficient to satisfy the Tax Amount (collectively, the “Sell-to-Cover Election”); provided that the Board may refuse any such Sell-to-Cover Election (I) if doing
so would have a material negative impact on the operations or financial position of the Company or where doing so is prohibited under the terms of a financing agreement to which the Company is a party or other legal or contractual restriction
applicable to the Employee or the broker, (II) in the case of a market disruption, or (III) in order to comply with rules governing order execution priority on the national exchange where the Shares may be traded. In the event that, in
accordance with the proviso to the preceding sentence, the Board does not permit the Employee to satisfy the payment of the Tax Amount by the Sell-to-Cover Election,
then notwithstanding anything to the contrary in this Agreement, the applicable Equity Plan or the applicable award agreement, the Employee may 

  
 4 

 
elect to withdraw such exercise of any Option and, in that event, the applicable Option shall remain outstanding and exercisable through the earlier of (x) the expiration of the original
full term of such Option, (y) the one-year anniversary of the date that the Shares underlying such Option become publicly-traded and (z) the date such Option
is terminated pursuant to the terms of the applicable Equity Plan or award agreement thereunder. 
 (iii) Upon a Change of Control (as
defined below), all Equity Awards held by the Employee immediately prior to the Change of Control shall, to the extent not vested, become immediately vested and, if applicable, exercisable, other than in respect of such Equity Awards (or portions
thereof) which are assumed or substituted by the Company’s successor with awards conferring the right to purchase or receive, with respect to the Shares subject to the portion of the Equity Award assumed or substituted, shares of the
Company’s successor substantially equal in economic value to the consideration (whether stock, cash, or other securities or property) received in the Change of Control by holders of Shares on the effective date of the Change of Control and with
terms and conditions (including, without limitation, vesting terms) no less favorable to the Employee in any respect than the associated Equity Awards (such assumed or substituted awards,
“Post-COC Equity Awards”). Any Post-COC Equity Awards shall remain outstanding following the Change of Control subject to their terms and shall,
to the extent not vested or, if applicable, exercisable, and notwithstanding the otherwise applicable vesting and, if applicable, exercise terms of such Post-COC Equity Awards, immediately vest and, if
applicable, become exercisable upon the earliest of (x) the time determined in accordance with the applicable award agreement or the applicable Equity Plan, (y) the one-year anniversary of the Change
of Control if the Employee remains employed by the Company or its successor on such date, and (z) the Employee’s termination of employment by the Company or its successor without Cause, by the Employee for Good Reason or due to the
Employee’s death or Disability. 
 (iv) For the avoidance of doubt, in the event of any conflict between the terms of this Agreement
and the terms of any award agreements governing the Equity Awards, the terms of this Agreement shall control. In addition, the definitions of “Cause,” “Good Reason,” and “Disability” in any such award agreements shall
have the meanings as defined herein. 
 5. Benefits; Expenses; Indemnification. 

(a) The Employee shall be entitled to such benefits and perquisites during the Term as the Company shall make generally available to its senior
executives or as otherwise approved from time to time by the Board or its authorized committee; provided, that, in no event shall the Employee be eligible to participate in any severance plan or program of the Company, except as set
forth in Sections 4 and 6 of this Agreement. 
 (b) The Company shall promptly reimburse the Employee for all reasonable travel and
other out-of-pocket business expenses incurred by the Employee in connection with the performance of her duties to the Company in accordance with any applicable Company
policies. 

  
 5 

 (c) The Company will indemnify the Employee and hold the Employee harmless to the fullest
extent permitted by applicable law and under the by-laws of the Company against, and with respect to, any and all actions, suits, proceedings, claims, demands, judgments, costs, expenses (including advancement
of reasonable attorney’s fees, subject to a standard repayment undertaking), losses and damages resulting from the Employee’s performance of the Employee’s duties and obligations within the scope of the Employee’s employment with
the Company. 
 (d) The Company will provide the Employee with Director’s and Officer’s insurance coverage that is at least as
favorable as the coverage provided to other directors and officers of the Company. Such insurance coverage will continue in effect both during the Term and, while potential liability exists, thereafter. 

(e) Following the Effective Date, the Company shall engage a professional security consultant, which consultant shall be mutually acceptable to
the Employee and the Company (the “Security Consultant”). The Security Consultant shall perform an assessment of the Employee’s personal security considerations in connection with the Employee’s role as Chief Executive
Officer of the Company. The Compensation Committee shall review the Security Consultant’s assessment and determine any reasonable security enhancements to be adopted in its good faith discretion. Furthermore, the Employee shall be entitled to
data security consulting benefits and equipment with respect to the Employee’s use of electronic Company equipment both at the Employee’s home and while the Employee is traveling. 

6. Termination of Employment. The Term shall terminate upon the occurrence of any of the events described in paragraphs (a) through
(d) of this Section, with the effects noted therein. In addition, notwithstanding anything in this Agreement to the contrary, upon any such termination, Equity Awards shall be treated in accordance with Section 4(b) hereof and their otherwise
applicable terms. 
 (a) Termination Without Cause; Resignation for Good Reason. 

(i) The Company may terminate the Term at any time without “Cause” (as defined below) upon not less than 60 days’ prior written
notice to the Employee; provided, however, that, following the delivery of such notice to the Employee, the Company may require the Employee to cease performing services for the Company for the balance of the Term. In addition,
the Employee may terminate the Term by resigning for “Good Reason” (as defined below); provided, however, that (X) the Employee shall give the Company not less than 90 days’ prior written notice of such
resignation, and (Y) the Company shall be given the opportunity to cure in accordance with Section 6(a)(iv) hereof. 
 (ii) Upon a
termination or resignation described in Section 6(a)(i) hereof, and, in the case of the payments and benefits set forth in subsections (A) through (F) of this Section 6(a)(ii), subject to the Employee’s continued compliance
with the restrictive covenants set forth in Section 7 and execution of a written release of claims against the Company and related parties in substantially the form attached hereto as Exhibit A (the
“Release”), which Release must be executed by the Employee, returned to the Company and the period within which the Employee may revoke the Release expired no later than 60 days following the date of termination, the Employee shall
be entitled to receive the following in consideration of the Release and of the restrictive covenants set forth in Section 7 hereof: 

  
 6 

 (A) A cash severance payment in an amount equal to two times the sum of (x) the annual
rate of Salary in effect immediately prior to such termination or resignation, and (y) the Target Bonus in effect for the Fiscal Year in which such termination or resignation occurs (together, the “Severance Amount”). Subject
to Section 11 hereof, the Severance Amount shall be payable: (1) if such termination of employment occurs other than on or within 24 months following a Change of Control, over 24 months (the “Severance Period”) in ratable
installments in accordance with the Company’s ordinary payroll practices with the first such payment to be made on the 60th day following the date of termination and with such first payment
to include all payments that would have otherwise been made from the date of termination through such first payment date, or (2) if such termination of employment occurs on, or within 24 months following a Change of Control, in a lump sum on
the 60th day following the date of termination. To the extent that the Annual Bonus in respect of the Fiscal Year during which the date of termination occurs (determined based on the actual
achievement of any applicable Company and/or individual performance objectives) is greater than that Target Bonus with respect to such Fiscal Year, then, together with and in addition to the Severance Amount, an aggregate amount equal to two times
the amount of such excess shall be payable to the Employee in equal ratable installments in accordance with the Company’s ordinary payroll practices during the period beginning on the date the amount of such Annual Bonus is determined and
ending on the last day of the Severance Period (or, if such termination of employment occurs on, or within 24 months following a Change of Control, such amount shall be payable in a lump sum on the later of (A) the 60th day following the date of termination or (B) the date such bonus would otherwise be payable to the Employee pursuant to the Company’s applicable annual incentive plan or arrangement), in
each case subject to Section 11. 
 (B) To the extent permitted by the Company’s insurance carrier(s), for a period of 18 months
following the date of termination (or, if earlier, the first date following the date of termination upon which the Employee is eligible to receive comparable group welfare benefits from a subsequent employer), the Employee shall continue to receive,
at the same pre-tax cost to her as applies to the Company’s senior-most executives, the group welfare benefits in effect at the date of termination (or generally
comparable coverage) for herself and, where applicable, her spouse and dependents, as the same may be changed from time to time for the senior-most executives of the Company generally, as if the Employee had
continued in employment during such period; provided that, to the extent that such coverage is not permitted by the Company’s insurance carrier(s) or applicable law, the Company shall instead reimburse to the Employee for the
Employee’s reasonable documented costs of purchasing comparable replacement coverage (the benefits provided pursuant to this paragraph (C), the “Welfare Benefit”). The COBRA health care continuation coverage period under
Section 4980B of the Code shall run concurrently with the foregoing 18-month benefit period. 

(C) Any Options which are vested at the time of termination (including, without limitation, those which become vested upon termination by
virtue of this Agreement) shall remain exercisable through the earlier of (x) the expiration of the original full term of such Option, (y) the later of (I) the fourth anniversary of the date of termination and (II) if applicable,
the time determined in accordance with the last sentence of Section 4(c)(ii), and (z) the date such Option is terminated pursuant to the terms of the applicable Equity Plan or award agreement thereunder (the “Extended Exercise
Period”). 

  
 7 

 (D) To the extent such termination or resignation occurs prior to or upon the consummation
of a Change of Control, the outstanding and unvested Equity Awards held by the Employee upon such termination that were held by the Employee as of the Effective Date or granted pursuant to this Agreement shall, to the extent not vested, become
immediately vested and, if applicable, exercisable (the “Vesting Acceleration”). For the avoidance of doubt, the Vesting Acceleration applies to any such qualifying termination including a resignation for Good Reason, either outside
of or as part of a Change of Control, but does not include a termination for Cause or resignation that is not for Good Reason (either outside of or as part of a Change of Control). 

(E) The Employee shall receive (i) all Salary earned and duly payable for periods ending on or prior to the date of termination but
unpaid as of the date of termination, and payment in respect of all accrued but unused vacation days at her per-business-day rate of Salary in effect as of the date of
termination, which amounts shall be paid in cash in a lump sum no later than 10 business days following the date of termination; (ii) all reasonable expenses incurred by the Employee through the date of termination which are reimbursable in
accordance with Section 5 hereof, which amount shall be paid in cash within 30 calendar days after the submission by the Employee of receipts; (iii) all Annual Bonuses earned for periods ending on or prior to the date of termination
but unpaid as of the date of termination, which amounts shall be paid in cash in a lump sum no later than 60 calendar days following the date of termination, or such later date as may be set forth in any applicable deferral arrangement
(“Accrued Annual Bonuses”); and (iv) other or additional vested benefits accrued or arising from the Employee’s participation in any plans, programs, agreements and arrangements of the Company and its affiliates (payable
in accordance with the then-applicable terms of such plans, programs, agreements and arrangements, but excluding any severance payments and/or benefits provided under such plans, programs, agreements and
arrangements) (such amounts in clauses (i), (ii), (iii) and (iv) together, the “Accrued Obligations”). 
 (iii)
For purposes of this Agreement, “Cause” shall mean (A) conviction of, or the entry of a pleading of guilty to, a felony involving moral turpitude, other than (1) a traffic or driving violation (excluding felony driving
under the influence), or (2) relating to domestic violence; (B) intentional and material failure after written notice to perform reasonably assigned duties for the Company, which failure is not cured within 30 days of written notice
and which failure has had, or could reasonably be expected to have, a material adverse effect on the Company; (C) engaging in willful and material misconduct directed at the Company, which misconduct has had a material adverse effect on the
Company; or (D) a willful breach of any material provision of any written covenant or agreement with the Company which, if curable, is not cured within 30 days of written notice thereof from the Company to the Employee and which breach has had,
or could reasonably be expected to have, a material adverse effect on the Company. 

  
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 No act, or failure to act on the part of the Employee shall be considered “willful” unless it is
done, or omitted to be done, by the Employee in bad faith and without reasonable belief that the Employee’s action or omission was in the best interests of the Company and its affiliates. The Employee shall not be terminated for
“Cause” unless reasonable notice is provided to the Employee and the Employee is given an opportunity, together with counsel, to be heard before the Board, and thereafter at least a majority of the Board (excluding the Employee from both
the numerator and the denominator) determines by affirmative vote or written consent that the Employee shall be terminated for “Cause;” provided that, any such determination by the Board shall be subject to de novo review by
the arbitrator pursuant to the dispute resolution provisions of Section 17 hereof based on the facts thereof. 
 (iv) For purposes of
this Agreement, “Good Reason” shall mean any of the following events that occur without the Employee’s prior written consent: (A) any material diminution of the Employee’s Salary or Target Bonus opportunity, or
failure by the Company to grant the IPO RSU Award in connection with the consummation of the IPO; (B) any other material breach of the Agreement by the Company; (C) prior to a Change of Control, the Employee no longer reporting directly to
the Board, and on and after a Change of Control, the Employee no longer directly reporting to the person or body having direct authority over the Company analogous to that of the Board prior to the Change of Control; (D) prior to a Change of
Control, any change in the Employee’s titles (including Chief Executive Officer and Co-Founder of the Company) or positions, or appointment of another individual to the same or similar titles or positions
(provided, that, for the avoidance of doubt, the Employee’s removal as Chair of the Board will not constitute Good Reason unless such removal as Chair is in connection with the Employee’s removal or termination as Chief Executive Officer);
(E) after a Change of Control, the Employee no longer being the most senior executive officer whose primary responsibility is for the Company’s business; (F) any material diminution in the Employee’s authorities, duties or
responsibilities; (G) relocation of the Employee’s workplace that increases the Employee’s daily commute by more than 35 miles and by 45 minutes or more each way in typical rush hour traffic conditions; or (H) failure of a
successor to all or substantially all of the business of the Company to assume the Company’s obligations under the Agreement; provided that, the Employee must notify the Company in writing within 90 calendar days after first becoming
aware of an event constituting Good Reason, describing in detail the event claimed to constitute Good Reason, and, unless the Company retracts and/or rectifies the claimed event constituting Good Reason within 30 calendar days following the
Company’s receipt of such notice from the Employee (the “Cure Period”), the Employee must terminate employment, if at all, during the 30-day period immediately following the end of the
Cure Period. If the Employee does not terminate employment during such 30-day period, the Employee may not terminate employment for Good Reason as a result of such event. 

(v) For purposes of this Agreement, “Change of Control” shall mean: 

(A) the purchase or other acquisition by any person, entity or group of persons, within the meaning of Section 13(d) or 14(d) of the
Securities Exchange Act of 1934 (“Act”) or any comparable successor provisions (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the
Act) of a majority of either the then-outstanding shares of common stock of the Company (“Outstanding Company Common Stock”) or the combined voting power of the Company’s then-outstanding voting securities entitled to vote generally in the election of directors (“Outstanding Company Voting Securities”); provided, however, that for purposes of
this subsection (A), the following acquisitions shall not constitute a Change of Control: (1) any acquisition by the Employee or by 

  
 9 

 
a Person in which the Employee has a greater than 25% equity interest, (2) any acquisition by the Company, (3) any acquisition by any employee benefit plan (or related trust) sponsored
or maintained by the Company or by any corporation controlled by the Company, or (4) any acquisition by any corporation pursuant to a transaction that complies with clauses (1), (2) and (3) of subsection (B) of this
Section 6(a)(v); 
 (B) consummation of a reorganization, merger or consolidation or sale of all or substantially all of the assets of
the Company (“Business Combination”), in each case, unless, following such Business Combination, (1) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding
Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then-outstanding
shares of common stock and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from
such Business Combination (including, without limitation, a corporation that as a result of such Business Combination owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in
substantially the same proportions as their ownership, immediately prior to such Business Combination, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (2) no Person (excluding any
corporation resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, a majority of the then-outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of
such corporation, except to the extent that such ownership existed prior to the Business Combination, and (3) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members
of the Incumbent Board (as defined below) at the time of the execution of the initial agreement, or of the action of the Board of Directors, providing for such Business Combination; 

(C) individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute
at least a majority of the Board, provided that any person becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the
directors then comprising the Incumbent Board (other than an election or nomination of an individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of the directors of the
Company, as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Act) shall be considered as though such person were a member of the Incumbent Board; or 

(D) approval by the shareholders of the Company of a complete liquidation or dissolution of the Company. 

  
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 Notwithstanding anything in the foregoing to the contrary, with respect to compensation (I) that is
subject to Section 409A of the Code and (II) for which a Change of Control would accelerate the timing of payment thereunder (including, without limitation, for purposes of Section 6(a)(ii)(A) hereof), the term “Change of
Control” shall mean a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the assets of the Company, each as defined in Section 409A of the Code and authoritative guidance
thereunder, but only to the extent inconsistent with the above definition and as necessary to avoid the imposition of tax penalties under Section 409A of the Code, as determined by the Company. 

(b) Voluntary Termination. 

(i) The Employee may voluntarily terminate the Term without Good Reason upon no less than 60 days’ prior written notice to the Company.

 (ii) If the Employee terminates the Term under this Section 6(b), she shall be entitled to the Accrued Obligations (and shall be
entitled to no other compensation, bonus, payments or benefits). 
 (c) Death/Disability. 

(i) The Term will terminate automatically upon the Employee’s death while employed by the Company, and the Company may terminate the Term
if the Employee has been unable to perform the material duties of her employment for a period of 180 days in any 12-month period because of physical or mental injury or illness, as determined by a physician
mutually agreeable to the Employee and the Company; provided that such days shall not include days that the Employee is absent due to taking paid maternity leave of no more than six months consistent with Company policy as in effect as
of the date hereof (or any shorter period of time provided under Company policy if Company policy is amended after the Effective Date with the written approval of the Employee) (“Disability”). 

(ii) Upon a termination of the Term under this Section 6(c), the Employee shall be entitled to the following (and shall be entitled to no
other compensation, bonus, payments or benefits); provided that, in the event of a Termination due to the Employee’s Disability, the Employee’s right to the payments and benefits set forth in subsections (B), (C), (D), and
(E) of this Section 6(c)(ii) is subject to the Employee’s execution of a Release, which Release must be executed by the Employee, returned to the Company and the period within which the Employee may revoke the Release expired no later
than 60 days following the date of termination: 
 (A) The Accrued Obligations. 

(B) A Target Bonus in respect of the Fiscal Year during which the date of termination occurs, the amount of which shall be equal to the amount
of the Target Bonus for such Fiscal Year multiplied by a fraction, the numerator of which is the number of days in such Fiscal Year through the date of such termination and the denominator of which is the number of days in such Fiscal Year, payable
on the 60th day following the date of termination (subject to Section 11). 
 (C)
The Extended Exercise Period. 
 (D) The Vesting Acceleration. 

  
 11 

 (E) The Welfare Benefit, in the event of Disability only. 

(d) Cause. 
 (i) The
Company may terminate the Term at any time for Cause upon written notice to the Employee. 
 (ii) Upon a termination of the Term under this
Section 6(d), the Employee shall be entitled to the Accrued Obligations (and shall be entitled to no other compensation, bonus, payments or benefits). 

(e) Notice of Termination. Any termination of the Term by the Company or the Employee shall be communicated by a written notice of
termination to the other given in accordance with Section 13 hereof. The notice of termination shall (i) indicate the specific termination provision in this Agreement relied upon, (ii) briefly summarize the facts and circumstances
deemed to provide a basis for a termination of the Term and the applicable provision hereof, and (iii) specify the termination date in accordance with the requirements of this Agreement. 

7. Restrictive Covenants. 

(a) Confidentiality. The Employee agrees that the Employee shall not, directly or indirectly, use, make available, sell, disclose or
otherwise communicate to any person, other than in the course of the Employee’s assigned duties and for the benefit of the Company, either during the Term or at any time thereafter, any business and technical information or trade secrets,
nonpublic, proprietary or confidential information, knowledge or data of the Company, or any of its subsidiaries. The foregoing shall not apply to information that (A) was known to the public prior to its disclosure to the Employee;
(B) becomes generally known to the public subsequent to disclosure to the Employee through no wrongful act of the Employee or any representative of the Employee; (C) is general information related to the Employee’s career or general
business or lifestyle advice; or (D) the Employee is required to disclose by applicable law, regulation or legal process (provided that the Employee provides the Company with prior notice of the contemplated disclosure and cooperates
with the Company at its request and expense in seeking a protective order or other appropriate protection of such information). The terms and conditions of this Agreement shall remain strictly confidential, and the Employee hereby agrees not to
disclose the terms and conditions hereof to any person or entity, other than immediate family members, legal advisors or personal tax or financial advisors, or, with respect to this Section 7 only, prospective future employers solely for the
purpose of disclosing the limitations on the Employee’s conduct imposed by the provisions of this Section 7. Nothing in this Section 7(a) or in Section 7(d) shall prohibit Employee from reporting possible violations of federal
law or regulation to any governmental agency or entity in accordance with the provisions of and rules promulgated under Section 21F of the Securities Exchange Act of 1934 or Section 806 of the
Sarbanes-Oxley Act of 2002, or any other whistleblower protection provisions of state or federal law or regulation. 

  
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 (b) Noncompetition. The Employee acknowledges that the Employee performs services of
a unique nature for the Company that are irreplaceable, and that the Employee’s performance of such services to a competing business will result in irreparable harm to the Company. Accordingly, during the Term and for a period of one year (two
years if the Employee’s termination of employment occurs on or following a Change of Control) thereafter, the Employee agrees that the Employee will not, directly or indirectly, own, manage, operate, control, be employed by (whether as an
employee, consultant, independent contractor or otherwise, and whether or not for compensation) or render services to any person, firm, corporation or other entity, in whatever form, engaged in the business of the Company or any of its subsidiaries,
including renting clothing and fashion accessories (the “Business”). Notwithstanding the foregoing, nothing herein shall prohibit the Employee from (i) participating in any speaking engagement, (ii) writing or
otherwise creating any book, article, or other document that relates to Employee’s career, or general business or lifestyle advice, (iii) engaging in the television, video, or music business (in the case of the preceding clauses (i),
(ii) and (iii), to the extent that such activity does not directly promote or endorse a product or service that is competitive with the Business), (iv) being a passive owner of not more than 5% of the equity securities of a publicly traded
corporation (whether or not engaged in a business that is in competition with the Business), or (v) serving on the board of directors of a corporation or any other entity the primary business of which is not competitive with the
Business. 
 (c) Nonsolicitation; Noninterference. 

(i) During the Term and for a period of one year thereafter, the Employee agrees that the Employee shall not, except in the furtherance of the
Employee’s duties hereunder, directly or indirectly, individually or on behalf of any other person, firm, corporation or other entity, solicit, aid or induce any customer of the Company or any of its subsidiaries to purchase or rent goods or
services then sold or rented by the Company or any of its subsidiaries from another person, firm, corporation or other entity or assist or aid any other person or entity in identifying or soliciting any such customer. 

(ii) During the Term and for a period of one year thereafter, the Employee agrees that the Employee shall not, except in the furtherance of
the Employee’s duties hereunder, directly or indirectly, individually or on behalf of any other person, firm, corporation or other entity, (A) solicit, aid or induce any employee, representative or agent of the Company or any of its
subsidiaries (other than the Employee’s personal assistant) to leave such employment or retention or to accept employment with or render services to or with any other person, firm, corporation or other entity unaffiliated with the Company or
any of its subsidiaries or hire or retain any such employee, representative or agent, or take any action to materially assist or aid any other person, firm, corporation or other entity in identifying, hiring or soliciting any such employee,
representative or agent, or (B) interfere, or aid or induce any other person or entity in interfering, with the relationship between the Company or any of its subsidiaries and any of their respective vendors, joint venturers or licensors;
provided, however, that the Employee’s establishment of a relationship with any vendor, joint venture or licensor that also has a relationship with the Company shall not in and of itself be deemed to be interference in
breach of this clause. An employee, representative or agent shall be deemed covered by clause (B) of the preceding sentence while so employed or retained and for a period of six months thereafter. 

  
 13 

 (d) Nondisparagement. During the Term and for all periods thereafter, the Employee
agrees not to make negative comments or otherwise disparage the Company or any of its subsidiaries or their officers, directors, 10% or more shareholders or products, in any manner likely to be harmful to them or their business, business reputation
or personal reputation, and shall instruct her immediate family members, agents and representatives not to do so. During the Term and for all periods thereafter, the Company shall not make negative comments or otherwise disparage the Employee in any
manner likely to be harmful to her, her business reputation or her personal reputation, and shall instruct its officers, directors and 10% or more shareholders (to the extent officers, directors, or 10% or more shareholders during the Term) not to
do so. The foregoing shall not be violated by truthful statements in response to legal process, required governmental testimony or filings, or administrative or arbitral proceedings (including, without limitation, depositions in connection with such
proceedings), or the making of truthful statements comparing the products or services of the Company with those of any organization with which the Employee may become associated following the end of the Term, if such association does not otherwise
violate this Agreement. 
 (e) Inventions. 

(i) The Employee acknowledges and agrees that all ideas, methods, inventions, discoveries, improvements, work products or developments
(“Inventions”), whether patentable or unpatentable, that relate to the Employee’s work with the Company or any of its subsidiaries, made or conceived by the Employee, solely or jointly with others, while performing the
Employee’s duties with the Company or any of its subsidiaries, and whether or not made or conceived prior to, on or after the date of this Agreement and prior to termination of the Employee’s service with the Company, shall belong
exclusively to the Company (or its designee), whether or not patent or trademark applications are filed thereon; (excluding non-fiction relating to the Employee’s career, or general business or
lifestyle advice). The Employee hereby assigns to the Company (in subsection (ii) below) the Inventions, together with the right to file, in the Employee’s name or in the name of the Company (or its designee), applications for patents,
trademarks and equivalent rights (whether before, during or subsequent to the Employee’s employment with the Company) (the “Applications”). The Employee will, at any time during and subsequent to the Term, make such
Applications, sign such papers, take all rightful oaths, and perform all acts as may be requested from time to time by the Company with respect to the Inventions. The Employee will also execute assignments to the Company (or its designee) of the
Applications, and give the Company and its attorneys all reasonable assistance (including the giving of testimony) to obtain the Inventions for its benefit, all without additional compensation to the Employee from the Company, but entirely at the
Company’s expense. 
 (ii) In addition, the Inventions will be deemed “works made for hire,” as such term is defined under
the copyright laws of the United States, on behalf of the Company and the Employee acknowledges and agrees that the Company will be deemed to be the sole owner of the Inventions, and all underlying rights therein, in all media now known or
hereinafter devised, throughout the universe and in perpetuity without any further obligations to the Employee. If the Inventions, or any portion thereof, are deemed not to be “works made for hire,” the Employee hereby irrevocably conveys,
transfers and assigns to the Company, all rights, in all media now known or hereinafter devised, throughout the universe and in perpetuity, in and to the Inventions, including, without limitation, all of the Employee’s right, title and interest
in the 

  
 14 

 
copyrights (and all renewals, revivals and extensions thereof) and patent rights underlying the Inventions, including, without limitation, all rights of any kind or any nature now or hereafter
recognized, including without limitation, the unrestricted right to make modifications, adaptations and revisions to the Inventions, to exploit and allow others to exploit the Inventions and all rights to sue at law or in equity for any
infringement, or other unauthorized use or conduct in derogation of the Inventions, known or unknown, prior to the date hereof, including, without limitation, the right to receive all proceeds and damages therefrom. In addition, the Employee hereby
waives any so-called “moral rights” with respect to the Inventions. The Employee hereby waives any and all currently existing and future monetary rights in and to the Inventions and all patents that
may issue thereon, including, without limitation, any rights that would otherwise accrue to the Employee’s benefit by virtue of the Employee being an employee of or other service provider to the Company. 

(f) Reformation. If it is determined by a court of competent jurisdiction in any state or foreign jurisdiction that any restriction in
this Section 7 is excessive in duration or scope or is unreasonable or unenforceable under the laws of that state or foreign jurisdiction, it is the intention of the parties that such restriction may be modified or amended to render it
enforceable to the maximum extent permitted by the laws of that state or foreign jurisdiction. 
 (g) Tolling. In the event of any
violation of the provisions of this Section 7, the Employee acknowledges and agrees that the post-termination restrictions contained in this Section 7 in respect of the subject matter of such
violation shall be extended by a period of time equal to the period of such violation, it being the intention of the parties hereto that the running of the applicable post-termination restriction period shall
be tolled during any period of such violation. 
 (h) Survival of Provisions. The obligations contained in Sections 7 and 8
hereof shall survive the termination or expiration of the Term and shall be fully enforceable thereafter. 
 8. Cooperation. Upon the
receipt of reasonable notice from the Company (including outside counsel), the Employee agrees that during the Term and thereafter, the Employee will respond and provide information with regard to matters in which the Employee has knowledge as a
result of the Employee’s employment with the Company, and will provide reasonable assistance to the Company, its affiliates and their respective representatives in defense of any claims that may be made against the Company or its affiliates,
and will assist the Company and its affiliates in the prosecution of any claims that may be made by the Company or its affiliates, to the extent that such claims may relate to the period of the Employee’s employment with the Company and the
Employee is knowledgeable of matters that may be relevant to the Company’s defense against such claims. Upon presentation of appropriate documentation, the Company shall pay or reimburse the Employee for all reasonable out-of-pocket travel, duplicating and telephonic expenses and reasonable attorneys’ fees and charges incurred by the Employee in complying with this Section 8. 

  
 15 

 9. Equitable Relief and Other Remedies. The Employee acknowledges and agrees that the
Company’s remedies at law for a breach of any of the provisions of Section 7 or Section 8 hereof would be inadequate and, in recognition of this fact, the Employee agrees that, in the event of such a breach, in addition to any
remedies at law, the Company, without posting any bond, shall be entitled to obtain equitable relief in the form of specific performance of Section 7 and Section 8 hereof, a temporary restraining order, a temporary or permanent injunction
or any other equitable remedy which may then be available. 
 10. Golden Parachute Excise Tax Provisions. 

(a) In the event any payments or benefits provided under this Agreement or otherwise, either alone or together with other payments or benefits
which the Employee receives or is entitled to receive from the Company or any affiliate (“Payments”) constitute “parachute payments” within the meaning of Section 280G of the Code and may be subject to the excise tax
imposed by Section 4999 of the Code (“Excise Tax”) as a result of a transaction affecting the Company described in Section 280G(b)(2)(A)(i) of the Code (a “280G Transaction”) that occurs at any time
following the Effective Date, then the Payments shall be reduced to the minimum extent necessary to ensure that no portion of the Payments is subject to the Excise Tax, but only if (i) the net amount of such Payments, as so reduced (and after
subtracting the net amount of federal, state and local income and employment taxes on such reduced Payments and after taking into account the phase out of itemized deductions and personal exemptions attributable to such reduced Payments), is greater
than or equal to (ii) the net amount of such Payments without such reduction (but after subtracting the net amount of federal, state and local income and employment taxes on such Payments and the amount of the Excise Tax to which the Employee
would be subject in respect of such unreduced Payments and after taking into account the phase out of itemized deductions and personal exemptions attributable to such unreduced Payments). The Payments shall be reduced in a manner that maximizes the
Employee’s economic position. In applying this principle, the reduction shall be made in a manner consistent with the requirements of Section 409A, to the extent applicable, and where two or more economically equivalent amounts are subject
to reduction but payable at different times, such amounts payable at the later time shall be reduced first but not below zero. 
 (b) All
determinations required to be made under Section 10(a) hereof shall be made by a public accounting or employee benefits consulting firm with a national practice selected by the Company and which is reasonably acceptable to the Employee (the
“Accounting Firm”), as promptly as is practicable upon or following the applicable 280G Transaction affecting the Company. The Accounting Firm shall provide detailed supporting calculations both to the Company and the Employee. All
fees and expenses of the Accounting Firm shall be borne solely by the Company. Any determination by the Accounting Firm shall be binding upon the Company and the Employee. 

11. Section 409A. 

(a) This Agreement is intended to be exempt from, or avoid the imposition of a penalty tax under, Section 409A of the Code and, to the
extent necessary in order to avoid the imposition of a penalty tax on the Employee under Section 409A of the Code, payments may only be made under this Agreement upon an event and in a manner permitted by Section 409A of the Code. Any
payments or benefits that are provided upon a termination of employment shall, to the extent necessary in order to avoid the imposition of a penalty tax on the Employee under Section 409A of the Code, not be provided unless such termination
constitutes a “separation 

  
 16 

 
from service” within the meaning of Section 409A of the Code. Any payments that qualify for the “short-term deferral” exception or
another exception under Section 409A of the Code shall be paid under the applicable exception. Notwithstanding anything in this Agreement to the contrary, if the Employee is considered a “specified employee” (as defined in
Section 409A of the Code), any amounts paid or provided under this Agreement shall, to the extent necessary in order to avoid the imposition of a penalty tax on Employee under Section 409A of the Code, be delayed for six months after
Employee’s “separation from service” within the meaning of Section 409A of the Code, and the accumulated amounts shall be paid in a lump sum within 10 calendar days after the end of the
six-month period. If the Employee dies during the six-month postponement period prior to the payment of benefits, the payments which are deferred on account of
Section 409A of the Code shall be paid to the personal representative of the Employee’s estate within 60 calendar days after the date of the Employee’s death. 

(b) For purposes of Section 409A of the Code, each payment under this Agreement shall be treated as a separate payment. In no event may
the Employee, directly or indirectly, designate the calendar year of a payment. All reimbursements and in-kind benefits provided under the Agreement shall be made or provided in accordance with the
requirements of Section 409A of the Code, including, where applicable, the requirement that (i) any reimbursement is for expenses incurred during the period of time specified in this Agreement, (ii) the amount of expenses eligible for
reimbursement, or in-kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in kind benefits to be provided, in any other calendar year, (iii) the
reimbursement of an eligible expense will be made no later than the last calendar day of the calendar year following the year in which the expense is incurred, and (iv) the right to reimbursement or in kind benefits is not subject to
liquidation or exchange for another benefit. 
 12. No Assignments. 

(a) This Agreement is personal to each of the parties hereto. Except as provided in Section 12(b) hereof, no party may assign or delegate
any rights or obligations hereunder without first obtaining the written consent of the other party hereto. 
 (b) The Company may assign this
Agreement to any successor to all or substantially all of the business and/or assets of the Company, provided that the Company shall require such successor to expressly assume and agree to perform this Agreement in the same manner and to the
same extent that the Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company” shall mean the Company and any successor to its business and/or assets, which assumes and
agrees to perform the duties and obligations of the Company under this Agreement by operation of law or otherwise. 
 13. Notice. For
purposes of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given (a) on the date of delivery, if delivered by hand, (b) on the date of
transmission, if delivered by confirmed facsimile or electronic mail, (c) on the first business day following the date of deposit, if delivered by guaranteed overnight delivery service, or (d) on the fourth business day following the date
delivered or mailed by United States registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 

  
 17 

 If to the Employee: 

At the address (or to the facsimile number) 

last shown on the records of the Company 

If to the Company: 
 Rent the
Runway, Inc. 
 10 Jay Street 

New York, NY 11201 
 Facsimile:
(646) 786-3528  
 Attention: Secretary 

or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be
effective only upon receipt. 
 14. Section Headings; Inconsistency. The section headings used in this
Agreement are included solely for convenience and shall not affect, or be used in connection with, the interpretation of this Agreement. In the event of any inconsistency between the terms of this Agreement and any form, award, plan or policy of the
Company, the terms of this Agreement shall govern and control. 
 15. Severability. The provisions of this Agreement shall be deemed
severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. 

16. Counterparts. This Agreement may be executed in two counterparts, each of which shall be deemed to be an original but all of which
together will constitute one and the same instrument. 
 17. Dispute Resolution. Any action for injunctive relief under Section 9
hereof shall be settled exclusively by a state or federal court located in New York, New York. Except as otherwise provided herein, any other dispute or claim arising under or in connection with this Agreement (including its formation and validity)
or the Employee’s employment with the Company shall be settled by arbitration before a single arbitrator in New York, New York in accordance with the national Rules for the Resolution of Employment Disputes of the American Arbitration
Association then in effect. The decision of the arbitrator shall be final and binding upon the parties hereto. Any decision by the arbitrator hereunder may not be appealed to any court or other forum, except to the extent otherwise provided by the
applicable law. Nothing herein shall prohibit either party hereto from seeking a temporary restraining order, preliminary injunction or other provisional relief, if in its judgment, such action is necessary to avoid irreparable damage or to preserve
the status quo. The arbitrator shall apply applicable law and may not limit, expand, or otherwise modify the terms of this Agreement. Either party hereto may request an in person hearing; absent such request, the arbitrator may decide the claim
based on the parties’ written submissions. The arbitrator has no authority to award punitive damages. Any arbitration awards(s) shall be in writing. The parties agree that the arbitration shall be kept confidential, but that judgment on any
award may be entered into, and enforced by, any court having jurisdiction. The parties acknowledge and agree that in connection with any such arbitration and regardless of outcome, each party shall pay one half of the costs and expenses of the
arbitration; in addition, the Company shall reimburse the Employee’s reasonable legal expenses incurred in connection with the arbitration if the Employee substantially prevails on the material issues in the arbitration. 

  
 18 

 18. Whistleblower Protections and Trade Secrets. Notwithstanding anything to the
contrary contained herein, nothing in this Agreement prohibits the Employee from reporting possible violations of federal law or regulation to any United States governmental agency or entity in accordance with the provisions of and rules promulgated
under Section 21F of the Securities Exchange Act of 1934 or Section 806 of the Sarbanes-Oxley Act of 2002, or any other whistleblower protection provisions of state or federal law or regulation (including the right to receive an award for
information provided to any such government agencies). Furthermore, in accordance with 18 U.S.C. § 1833, notwithstanding anything to the contrary in this Agreement: (i) the Employee shall not be in breach of this Agreement, and shall not
be held criminally or civilly liable under any federal or state trade secret law (A) for the disclosure of a trade secret that is made in confidence to a federal, state, or local government official or to an attorney solely for the purpose of
reporting or investigating a suspected violation of law, or (B) for the disclosure of a trade secret that is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; and (ii) if the
Employee files a lawsuit for retaliation by the Company for reporting a suspected violation of law, the Employee may disclose the trade secret to the Employee’s attorney, and may use the trade secret information in the court proceeding, if the
Employee files any document containing the trade secret under seal, and does not disclose the trade secret, except pursuant to court order. 

19. Compensation Recovery Policy. The Employee acknowledges and agrees that, to the extent the Company adopts any claw-back or similar
policy pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act or otherwise, and any rules and regulations promulgated thereunder, he or she shall take all action necessary or appropriate to comply with such policy (including,
without limitation, entering into any further agreements, amendments or policies necessary or appropriate to implement and/or enforce such policy with respect to past, present and future compensation, as appropriate). 

20. Miscellaneous. 
 (a) No
provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by the Employee and such officer or director of the Company as may be designated by the Board or its
authorized committee. 
 (b) No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any
condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 

  
 19 

 (c) This Agreement, together with all exhibits hereto, sets forth the entire agreement of
the parties hereto in respect of the subject matter contained herein and supersedes any and all prior agreements or understandings between the Employee and the Company with respect to the subject matter hereof (including, but not limited to, the
Original Agreement, the IPO RSU Letter, the Non-Competition and Non-Solicitation Agreement between the Company and the Employee dated as of December 3, 2019, and
the Invention and Non-Disclosure Agreement between the Company and Employee dated as of December 3, 2019). 

(d) No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either
party which are not expressly set forth in this Agreement. 
 (e) The validity, interpretation, construction and performance of this
Agreement shall be governed by the laws of the State of New York without regard to the choice of law principles thereof which could cause the application of the law of any jurisdiction other than the State of New York, 

21. Representations. The Employee represents and warrants to the Company that (a) the Employee has the legal right to enter into
this Agreement and to perform all of the obligations on the Employee’s part to be performed hereunder in accordance with its terms, and (b) the Employee is not a party to any agreement or understanding, written or oral, and is not subject
to any restriction, which, in either case, could prevent the Employee from entering into this Agreement or performing all of the Employee’s duties and obligations hereunder. 

22. Legal Fees. The Company will pay all reasonable legal fees and related expenses, up to a maximum of $50,000, incurred in connection
with the drafting, negotiation, and execution of this Agreement and the drafting of any related equity documents, in each case, within 30 days following presentation by the Employee of an invoice therefor. 

23. Withholding. The Company may withhold from any and all amounts payable under this Agreement such federal, state and local taxes as
may be required to be withheld pursuant to any applicable law or regulation. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 20 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
first written above. 
  

			
	COMPANY:
	
	RENT THE RUNWAY, INC.
		
	By:	 	 /s/ Andrea Alexander

		 	Name: Andrea Alexander
		 	Title: Chief People Officer, Rent the Runway, Inc.
	
	EMPLOYEE:
	
	 /s/ Jennifer Y. Hyman

	Jennifer Y. Hyman

 [Signature Page to J. Hyman Employment Agreement] 

 Exhibit A 

RELEASE 
 This Release of
Claims (this “Release”) is entered into pursuant to the Employment Agreement, dated as of October 5, 2021, to which Jennifer Y. Hyman (“Employee”) and Rent the Runway, Inc., a Delaware corporation (the
“Company”), are parties, as such agreement is from time to time amended in accordance with its terms (the “Employment Agreement”). 

1. Release of Claims by Employee. 

(a) Pursuant to the Employment Agreement, Employee, with the intention of binding herself and her heirs, executors, administrators and assigns
(collectively, and together with Employee, the “Employee Releasors”), hereby releases, remises, acquits and forever discharges the Company and each of its subsidiaries and affiliates (the “Company Affiliated
Group”), and their past and present directors, employees, agents, attorneys, accountants, representatives, plan fiduciaries, and the successors, predecessors and assigns of each of the foregoing (collectively, and together with the members
of the Company Affiliated Group, the “Company Released Parties”), of and from any and all claims, actions, causes of action, complaints, charges, demands, rights, damages, debts, sums of money, accounts, financial obligations,
suits, expenses, attorneys’ fees and liabilities of whatever kind or nature in law, equity or otherwise, whether accrued, absolute, contingent, unliquidated or otherwise and whether now known or unknown, suspected or unsuspected, that arise out
of, or relate in any way to, Employee’s employment with the Company or the termination of such employment (collectively, “Released Claims”) and that Employee, individually or as a member of a class, now has, owns or holds, or
has at any time heretofore had, owned or held, against any Company Released Party in any capacity, including any and all Released Claims (i) arising out of or in any way connected with Employee’s service to any member of the Company
Affiliated Group (or the predecessors thereof) in any capacity (including as an employee, officer or director), or the termination of such service in any such capacity, (ii) for severance or vacation benefits, unpaid wages, salary or incentive
payments, (iii) for breach of contract, wrongful discharge, impairment of economic opportunity, defamation, intentional infliction of emotional harm or other tort, (iv) for any violation of applicable federal, state and local labor and
employment laws (including all laws concerning unlawful and unfair labor and employment practices) and (v) for employment discrimination under any applicable federal, state or local statute, provision, order or regulation, and including,
without limitation but only to extent applicable, any claim under Title VII of the Civil Rights Act of 1964 (“Title VII”), the Age Discrimination in Employment Act (“ADEA”) and any similar or analogous state
statute, excepting only that no claim in respect of any of the following rights shall constitute a Released Claim: 
 (1) any right arising
under, or preserved by, this Release; 
 (2) any right arising under Section 4 or Section 6 of the Employment Agreement which are
meant to last following Employee’s termination of employment with the Company, or by which its terms arises following the date hereof under another section of the Employment Agreement; 

  
 Ex. A-1 

 (3) any claim related solely to Employee’s status as an equityholder of the Company or
any affiliate thereof; 
 (4) any right to indemnification under (i) applicable law, (ii) the Employment Agreement, (iii) the
limited liability agreement, partnership agreement, by-laws or certificate of incorporation of any Company Released Party, (iv) any other agreement between Employee and a Company Released Party or
(v) as an insured under any director’s and officer’s liability insurance policy now or previously in force; or 
 (5) any
claim for vested benefits under any health, disability, retirement, life insurance or similar employee benefit plan of the Company Affiliated Group. 

(b) No Employee Releasor shall file or cause to be filed any action, suit, claim, charge or proceeding with any governmental agency, court or
tribunal relating to any Released Claim within the scope of this Section 1. 
 (c) In the event any action, suit, claim, charge or
proceeding within the scope of this Section 1 is brought by any government agency, putative class representative or other third Party to vindicate any alleged rights of Employee, (i) Employee shall, except to the extent required or
compelled by law, legal process or subpoena, refrain from participating, testifying or producing documents therein, and (ii) all damages, inclusive of attorneys’ fees, if any, required to be paid to Employee by the Company as a consequence
of such action, suit, claim, charge or proceeding shall be repaid to the Company by Employee within ten (10) calendar days of her receipt thereof. 

(d) The amounts and other benefits set forth in Section 6 of the Employment Agreement, to which Employee would not be entitled in the
absence of this Release, are being paid to Employee in return for Employee’s execution and nonrevocation of this Release and Employee’s agreements and covenants contained in the Employment Agreement. Employee acknowledges and agrees that
the release of claims set forth in this Section 1 is not to be construed in any way as an admission of any liability whatsoever by any Company Released Party, any such liability being expressly denied. 

(e) The release of claims set forth in this Section 1 applies to any relief in respect of any Released Claim of any kind, no matter how
called, including wages, back pay, front pay, compensatory damages, liquidated damages, punitive damages, damages for pain or suffering, costs, and attorney’s fees and expenses. Employee specifically acknowledges that her acceptance of the
terms of the release of claims set forth in this Section 1 is, among other things, a specific waiver of her rights, claims and causes of action under Title VII, ADEA and any state or local law or regulation in respect of discrimination of any
kind; provided, however, that nothing herein shall be deemed, nor does anything contained herein purport, to be a waiver of any right or claim or cause of action which by law Employee is not permitted to waive. Nothing in this
Release shall prohibit Employee from reporting possible violations of federal law or regulation to any governmental agency or entity in accordance with the provisions of and rules promulgated under Section 21F of the Securities Exchange Act of
1934 or Section 806 of the Sarbanes-Oxley Act of 2002, or any other whistleblower protection provisions of state or federal law or regulation. 

  
 Ex. A-2 

 2. Voluntary Execution of Agreement. 

BY HER SIGNATURE BELOW, EMPLOYEE ACKNOWLEDGES THAT: 

(a) SHE HAS RECEIVED A COPY OF THIS RELEASE AND WAS OFFERED A PERIOD OF 21 DAYS TO REVIEW AND CONSIDER IT; 

(b) IF SHE SIGNS THIS RELEASE PRIOR TO THE EXPIRATION OF 21 CALENDAR DAYS, SHE KNOWINGLY AND VOLUNTARILY WAIVES AND GIVES UP THIS RIGHT OF
REVIEW; 
 (c) SHE HAS THE RIGHT TO REVOKE THIS RELEASE FOR A PERIOD OF SEVEN CALENDAR DAYS AFTER SHE SIGNS IT BY MAILING OR DELIVERING A
WRITTEN NOTICE OF REVOCATION TO THE COMPANY NO LATER THAN THE CLOSE OF BUSINESS ON THE SEVENTH CALENDAR DAY AFTER THE DAY ON WHICH SHE SIGNED THIS RELEASE; 

(d) THIS RELEASE SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE FOREGOING SEVEN-DAY REVOCATION
PERIOD HAS EXPIRED WITHOUT THE RELEASE HAVING BEEN REVOKED; 
 (e) THIS RELEASE WILL BE FINAL AND BINDING AFTER THE EXPIRATION OF THE
FOREGOING REVOCATION PERIOD REFERRED TO IN SECTION 2(c) HEREOF, AND FOLLOWING SUCH REVOCATION PERIOD EMPLOYEE AGREES NOT TO CHALLENGE ITS ENFORCEABILITY; 

(f) SHE IS AWARE OF HER RIGHT TO CONSULT AN ATTORNEY, HAS BEEN ADVISED IN WRITING TO CONSULT WITH AN ATTORNEY, AND HAS HAD THE OPPORTUNITY TO
CONSULT WITH AN ATTORNEY, IF DESIRED, PRIOR TO SIGNING THIS RELEASE; 
 (g) NO PROMISE OR INDUCEMENT FOR THIS RELEASE HAS BEEN MADE EXCEPT AS
SET FORTH IN THE EMPLOYMENT AGREEMENT AND THIS RELEASE; 
 (h) SHE HAS CAREFULLY READ THIS RELEASE, ACKNOWLEDGES THAT SHE HAS NOT RELIED ON
ANY REPRESENTATION OR STATEMENT, WRITTEN OR ORAL, NOT SET FORTH IN THIS DOCUMENT OR THE EMPLOYMENT AGREEMENT, AND WARRANTS AND REPRESENTS THAT SHE IS SIGNING THIS RELEASE KNOWINGLY AND VOLUNTARILY. 

  
 Ex. A-3 

 3. Miscellaneous. 

The provisions of the Employment Agreement relating to representations, successors, notices, amendments/waivers, headings, severability, choice
of law, references, arbitration and counterparts/faxed signatures, shall apply to this Release as if set fully forth in full herein, with references in such Sections to “this Agreement” being deemed, as appropriate, to be references
to this Release. For avoidance of doubt, this Section 3 has been included in this Release solely for the purpose of avoiding the need to repeat herein the full text of the referenced provisions of the Employment Agreement. 

[Signature page follows] 

  
 Ex. A-4 

 IN WITNESS WHEREOF, the Employee has acknowledged, executed and delivered this
Release as of the date indicated below. 
  

	
	EMPLOYEE:
	
	                                      
                                         
     
	Jennifer Y. Hyman
	
	Date of Execution:
                                         
           

 [Signature Page to J. Hyman Release]

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