Document:

Exhibit 10.1

 

NEITHER
THIS NOTE NOR THE SECURITIES THAT MAY BE ISSUED BY THE COMPANY UPON CONVERSION HEREOF (COLLECTIVELY, THE “SECURITIES”)
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR THE SECURITIES LAWS OF ANY
STATE OR OTHER JURISDICTION. NEITHER THE SECURITIES NOR ANY INTEREST OR PARTICIPATION THEREIN MAY BE OFFERED FOR SALE, SOLD, TRANSFERRED
OR ASSIGNED: (I) IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE 1933 ACT, OR APPLICABLE STATE
SECURITIES LAWS; OR (II) IN THE ABSENCE OF AN OPINION OF COUNSEL, IN A FORM ACCEPTABLE TO THE ISSUER, THAT REGISTRATION IS NOT
REQUIRED UNDER THE 1933 ACT OR; (III) UNLESS SOLD, TRANSFERRED OR ASSIGNED PURSUANT TO RULE 144 UNDER THE 1933 ACT.

 

8%
CONVERTIBLE PROMISSORY NOTE

 

MATURITY DATE OF JUNE 12, 2021 *THE “MATURITY DATE”

 

$103,000
JUNE 12, 2020 *THE “ISSUANCE DATE”

 

FOR
VALUE RECEIVED, mPhase Technologies Inc., a New Jersey Corporation (the “Company”) doing business in Gaithersburg,
Maryland, hereby promises to pay to the order of [___], an accredited investor and [___], or its assigns (the “Holder”),
the principal amount of One Hundred and Three Thousand Dollars ($103,000) (“Note”), on demand of the Holder at any
time on or after June 12, 2021 (the “Maturity Date”), and to pay interest on the unpaid principal balance hereof at
the rate of Eight Percent (8%) per annum (the “Interest Rate”) commencing on the date hereof (the “Issuance
Date”).

 

		1.	Payments
                                         of Principal and Interest.

 

		a.	Pre-Payment
                                         and Payment of Principal and Interest. The Company may pay this Note in full, together
                                         with any and all accrued and unpaid interest, plus any applicable pre-payment premium
                                         set forth herein and subject to the terms of this Section 1.a, at any time on or prior
                                         to the date which occurs 180 days after the Issuance Date hereof (the “Prepayment
                                         Date”). In the event the Note is not prepaid in full on or before the Prepayment
                                         Date, it shall be deemed a “Pre-Payment Default” hereunder. Until the Ninetieth
                                         (90th) day after the Issuance Date the Company may pay the principal at a cash redemption
                                         premium of 135%, in addition to outstanding interest, without the Holder’s consent;
                                         from the 91st day to the One Hundred and Twentieth (120th) day after the Issuance Date,
                                         the Company may pay the principal at a cash redemption premium of 137%, in addition to
                                         outstanding interest, without the Holder’s consent; from the 121st day to the Prepayment
                                         Date, the Company may pay the principal at a cash redemption premium of 140%, in addition
                                         to outstanding interest, without the Holder’s consent. After the Prepayment Date
                                         up to the Maturity Date this Note shall have a cash redemption premium of 150% of the
                                         then outstanding principal amount of the Note, plus accrued interest and Default Interest,
                                         if any, which may only be paid by the Company upon Holder’s prior written consent.
                                         At any time on or after the Maturity Date, the Company may repay the then outstanding
                                         principal plus accrued interest and Default Interest (defined below), if any, to the
                                         Holder.

 

		b.	Demand
                                         of Repayment. The principal and interest balance of this Note shall be paid to the Holder
                                         hereof on demand by the Holder at any time on or after the Maturity Date. The Default
                                         Amount (defined herein), if applicable, shall be paid to Holder hereof on demand by the
                                         Holder at any time such Default Amount becomes due and payable to Holder. The Holder
                                         may, by written notice to the Company at least five (5) days before the Maturity Date
                                         (as may have been previously extended), extend the Maturity Date to up to one (1) year
                                         following the date of the original Maturity Date hereunder.

 

		c.	Interest.
                                         This Note shall bear interest (“Interest”) at the rate of Eight Percent (8%)
                                         per annum from the Issuance Date until the same is paid, or otherwise converted in accordance
                                         with Section 2 below, in full and the Holder, at the Holder’s sole discretion,
                                         may include any accrued but unpaid Interest in the Conversion Amount. Interest shall
                                         commence accruing on the Issuance Date, shall be computed on the basis of a 365-day year
                                         and the actual number of days elapsed and shall accrue daily and, after the Maturity
                                         Date, compound quarterly. Upon an Event of Default, as defined in Section 10 below, the
                                         Interest Rate shall increase to Eighteen Percent (18%) per annum for so long as the Event
                                         of Default is continuing (“Default Interest”).

 

		d.	General
                                         Payment Provisions. This Note shall be paid in lawful money of the United States of America
                                         by check or wire transfer to such account as the Holder may from time to time designate
                                         by written notice to the Company in accordance with the provisions of this Note. Whenever
                                         any amount expressed to be due by the terms of this Note is due on any day which is not
                                         a Business Day (as defined below), the same shall instead be due on the next succeeding
                                         day which is a Business Day and, in the case of any interest payment date which is not
                                         the date on which this Note is paid in full, the extension of the due date thereof shall
                                         not be taken into account for purposes of determining the amount of interest due on such
                                         date. For purposes of this Note, “Business Day” shall mean any day other
                                         than a Saturday, Sunday or a day on which commercial banks in the State of Texas are
                                         authorized or required by law or executive order to remain closed.

 

    	 	1	 

     

    

 

		2.	Conversion
                                         of Note. At any time after the Pre-payment Date, the Conversion Amount (see Paragraph
                                         2(a)(i)) of this Note shall be convertible into shares of the Company’s common
                                         stock (the “Common Stock”) according to the terms and conditions set forth
                                         in this Paragraph 2.

 

		a.	Certain
                                         Defined Terms. For purposes of this Note, the following terms shall have the following
                                         meanings:

 

		i.	“Conversion
                                         Amount” means the sum of (a) the principal amount of this Note to be converted
                                         with respect to which this determination is being made, (b) Interest; and (c) Default
                                         Interest, if any, if so included at the Holder’s sole discretion.

 

		ii.	“Conversion
                                         Price” means a 38% discount to the lowest closing price during the previous twenty
                                         (20) trading days to the date of a Conversion Notice (subject to equitable adjustments
                                         for stock splits, stock dividends or rights offerings by the Company relating to the
                                         Company’s securities or the securities of any subsidiary of the Company, combinations,
                                         recapitalization, reclassifications, extraordinary distributions and similar events).

 

		iii.	“Person”
                                         means an individual, a limited liability company, a partnership, a joint venture, a corporation,
                                         a trust, an unincorporated organization and a government or any department or agency
                                         thereof.

 

		iv.	“Shares”
                                         means the Shares of the Common Stock of the Company into which any balance on this Note
                                         may be converted upon submission of a “Conversion Notice” to the Company
                                         substantially in the form attached hereto as Exhibit 1.

 

		b.	Holder’s
                                         Conversion Rights. At any time after the Pre-payment Date, the Holder shall be entitled
                                         to convert all of the outstanding and unpaid principal and accrued interest of this Note
                                         into fully paid and non-assessable shares of Common Stock in accordance with the stated
                                         Conversion Price. The Holder shall not be entitled to convert on a Conversion Date that
                                         amount of the Note in connection with that number of shares of Common Stock which would
                                         be in excess of the sum of the number of shares of Common Stock issuable upon the conversion
                                         of the Note with respect to which the determination of this provision is being made on
                                         a Conversion Date, which would result in beneficial ownership by the Holder and its affiliates
                                         of more than 4.99% of the outstanding shares of Common Stock of the Company on such Conversion
                                         Date. For the purposes of the provision to the immediately preceding sentence, beneficial
                                         ownership shall be determined in accordance with Section 13(d) of the Securities Exchange
                                         Act of 1934, as amended, and Regulation 13d-3 thereunder. Subject to the foregoing, the
                                         Holder shall not be limited to aggregate conversions of 4.99% (“Conversion Limitation
                                         1”). The Holder shall have the authority to determine whether the restriction contained
                                         in this Section 2(b) will limit any conversion hereunder, and accordingly, the
                                         Holder may waive the conversion limitation described in this Section 2(b), in
                                         whole or in part, upon and effective after 61 days prior written notice to the Company
                                         to increase or decrease such percentage to any other amount as determined by Holder in
                                         its sole discretion (“Conversion Limitation 2”). If in the case that the
                                         Company’s Common Stock is “chilled” for deposit into the DTC system
                                         and only eligible for clearing deposit, then an additional 15% discount to the Conversion
                                         Price shall apply for all future conversions under the Note while the “chill”
                                         is in effect. For the avoidance of doubt, with reference to section 2(a)ii of this note,
                                         when the “chill” is in effect the conversion price will increase from a 35%
                                         discount to a 50% discount to the lowest trading price during the previous (20) days
                                         to the date of a Conversion Notice. To the extent the Conversion Price of the Company’s
                                         Common Stock closes below the par value per share, the Company will take all steps necessary
                                         to solicit the consent of the stockholders to reduce the par value to the lowest value
                                         possible under law. The Company agrees to honor all conversions submitted pending this
                                         adjustment unless the Holder, in its sole and absolute discretion elects instead to set
                                         the Conversion Price to par value for such conversion(s) and the conversion amount for
                                         such conversion(s) shall be increased to include Additional Principal, where “Additional
                                         Principal” means such additional amount to be added to the conversion amount to
                                         the extent necessary to cause the number of Common Stock issuable upon such conversion(s)
                                         to equal the same number of Common Stock as would have been issued had the Conversion
                                         Price not been set to par value in the Holder’s sole and absolute discretion.

 

		c.	Fractional
                                         Shares. The Company shall not issue any fraction of a share of Common Stock upon any
                                         conversion; if such issuance would result in the issuance of a fraction of a share of
                                         Common Stock, the Company shall round such fraction of a share of Common Stock up to
                                         the nearest whole share except in the event that rounding up would violate the conversion
                                         limitation set forth in section 2(b) above.

 

		d.	Conversion
                                         Amount. The Conversion Amount shall be converted pursuant to Rule 144(b)(1)(ii) and Rule
                                         144(d)(1)(ii) as promulgated by the Securities and Exchange Commission under the Securities
                                         Act of 1933, as amended, into unrestricted shares at the Conversion Price.

 

		e.	Mechanics
                                         of Conversion. The conversion of this Note shall be conducted in the following manner:

 

		i.	Holder’s
                                         Conversion Requirements. To convert this Note into shares of Common Stock on any date
                                         set forth in the Conversion Notice by the Holder (the “Conversion Date”),
                                         the Holder shall transmit by email, facsimile or otherwise deliver, for receipt on or
                                         prior to 11:59 p.m., Eastern Time, on such date or on the next business day, a copy of
                                         a fully executed notice of conversion in the form attached hereto as Exhibit 1 to the
                                         Company.

 

		ii.	Company’s
                                         Response. Upon receipt by the Company of a copy of a Conversion Notice, the Company shall
                                         as soon as practicable, but in no event later than one (1) Business Day after receipt
                                         of such Conversion Notice, send, via email, facsimile or overnight courier, a confirmation
                                         of receipt of such Conversion Notice to such Holder indicating that the Company will
                                         process such Conversion Notice in accordance with the terms herein. Within two (2) Business
                                         Days after the date the Conversion Notice is delivered, the Company shall have issued
                                         and electronically transferred the shares to the Broker indicated in the Conversion Notice;
                                         should the Company be unable to transfer the shares electronically, it shall, within
                                         two (2) Business Days after the date the Conversion Notice was delivered, have surrendered
                                         to an overnight courier for delivery the next day to the address as specified in the
                                         Conversion Notice, a certificate, registered in the name of the Holder, for the number
                                         of shares of Common Stock to which the Holder shall be entitled.

 

    	 	2	 

     

    

 

		iii.	Record
                                         Holder. The person or persons entitled to receive the shares of Common Stock issuable
                                         upon a conversion of this Note shall be treated for all purposes as the record holder
                                         or holders of such shares of Common Stock on the Conversion Date.

 

		iv.	Timely
                                         Response by Company. Upon receipt by Company of a Conversion Notice, Company shall respond
                                         within one business day to Holder confirming the details of the Conversion, and provide
                                         within two business days the Shares requested in the Conversion Notice.

 

		v.	Liquidated
                                         Damages for Delinquent Response. If the Company fails to deliver for whatever reason
                                         (including any neglect or failure by, e.g., the Company, its counsel or the transfer
                                         agent) to Holder the Shares as requested in a Conversion Notice within three (3) business
                                         days of the Conversion Date, the Company shall be deemed in “Default of Conversion.”
                                         Beginning on the fourth (4th) business day after the date of the Conversion Notice, after
                                         the Company is deemed in Default of Conversion, there shall accrue liquidated damages
                                         (the “Conversion Damages”) of $2,000 per day for each day after the third
                                         business day until delivery of the Shares is made, and such penalty will be added to
                                         the Note being converted (under the Company’s and Holder’s expectation and
                                         understanding that any penalty amounts will tack back to the Issuance Date of the Note).
                                         The Parties agree that, at the time of drafting of this Note, the Holder’s damages
                                         as to the delinquent response are incapable or difficult to estimate and that the liquidated
                                         damages called for is a reasonable forecast of just compensation.

 

		vi.	Liquidated
                                         Damages for Inability to Issue Shares. If the Company fails to deliver Shares requested
                                         by a Conversion Notice due to an exhaustion of authorized and issuable common stock such
                                         that the Company must increase the number of shares of authorized Common Stock before
                                         the Shares requested may be issued to the Holder, the discount set forth in the Conversion
                                         Price will be increased by 5 percentage points (i.e. from 38% to 43%) for the Conversion
                                         Notice in question and all future Conversion Notices until the outstanding principal
                                         and interest of the Note is converted or paid in full. These liquidated damages shall
                                         not render the penalties prescribed by Paragraph 2(e)(v) void, and shall be applied in
                                         conjunction with Paragraph 2(e)(v) unless otherwise agreed to in writing by the Holder.
                                         The Parties agree that, at the time of drafting of this Note, the Holder’s damages
                                         as to the inability to issue shares are incapable or difficult to estimate and that the
                                         liquidated damages called for is a reasonable forecast of just compensation.

 

		vii.	Rescindment
                                                                                                                                                                                                                                       of Conversion Notice. If: (i) the Company fails to respond to Holder within one business day from the date of delivery of a
                                                                                                                                                                                                                                       Conversion Notice confirming the details of the Conversion, (ii) the Company fails to provide the Shares requested in the
                                                                                                                                                                                                                                       Conversion Notice within three business days from the date of the delivery of the Conversion Notice, (iii) the Holder is
                                                                                                                                                                                                                                       unable to procure a legal opinion required to have the Shares issued unrestricted and/or deposited to sell for any reason
                                                                                                                                                                                                                                       related to the Company’s standing with the SEC or FINRA, or any action or inaction by the Company, (iv)
the Holder is unable to deposit the Shares requested in the Conversion Notice for any reason related to the Company’s standing
with the SEC or FINRA, or any action or inaction by the Company, (v) if the Holder is informed that the Company does not have
the authorized and issuable Shares available to satisfy the Conversion, or (vi) if OTC Markets changes the Company’s designation
to ‘Limited Information’ (Yield), ‘No Information’ (Stop Sign), ‘Caveat Emptor’ (Skull and Crossbones), or ‘OTC’, ‘Other OTC’
or ‘Grey Market’ (Exclamation Mark Sign) on the day of or any day after the date of the Conversion Notice, the Holder maintains
the option and sole discretion to rescind the Conversion Notice (“Rescindment”) by delivering a notice of rescindment
to the Company in the same manner that a Conversion Notice is required to be delivered to the Company pursuant to the terms of
this Note.

 

		viii.	Transfer
                                         Agent Fees and Legal Fees. The issuance of the certificates shall be without charge or
                                         expense to the Holder. The Company shall pay any and all Transfer Agent fees, legal fees,
                                         and advisory fees required for execution of this Note and processing of any Notice of
                                         Conversion, including but not limited to the cost of obtaining a legal opinion with regard
                                         to the Conversion. The Holder will deduct $3,000 from the principal payment of the Note
                                         solely to cover the cost of obtaining any and all legal opinions required to obtain the
                                         Shares requested in any given Conversion Notice. These fees do not make provision for
                                         or suffice to defray any legal fees incurred in collection or enforcement of the Note
                                         as described in Paragraph 13. All expenses incurred by Holder, for the issuance and clearing
                                         of the Common Stock into which this Note is convertible into, shall immediately and automatically
                                         be added to the balance of the Note at such time as the expenses are incurred by Holder.

 

		ix.	Conversion
                                         Right Unconditional. If the Holder shall provide a Notice of Conversion as provided herein,
                                         the Company’s obligations to deliver Common Stock shall be absolute and unconditional,
                                         irrespective of any claim of setoff, counterclaim, recoupment, or alleged breach by the
                                         Holder of any obligation to the Company.

 

    	 	3	 

     

    

 

		3.	Other
                                         Rights of Holder: Reorganization, Reclassification, Consolidation, Merger or Sale. Any
                                         recapitalization, reorganization, reclassification, consolidation, merger, sale of all
                                         or substantially all of the Company’s assets to another Person or other transaction
                                         which is effected in such a way that holders of Common Stock are entitled to receive
                                         (either directly or upon subsequent liquidation) stock, securities, cash or other assets
                                         with respect to or in exchange for Common Stock is referred to herein as “Organic
                                         Change.” Prior to the consummation of any (i) Organic Change or (ii) other Organic
                                         Change following which the Company is not a surviving entity, the Company will secure
                                         from the Person purchasing such assets or the successor resulting from such Organic Change
                                         (in each case, the “Acquiring Entity”) a written agreement (in form and substance
                                         reasonably satisfactory to the Holder) to deliver to Holder in exchange for this Note,
                                         a security of the Acquiring Entity evidenced by a written instrument substantially similar
                                         in form and substance to this Note, and reasonably satisfactory to the Holder. Prior
                                         to the consummation of any other Organic Change, the Company shall make appropriate provision
                                         (in form and substance reasonably satisfactory to the Holder) to ensure that the Holder
                                         will thereafter have the right to acquire and receive in lieu of or in addition to (as
                                         the case may be) the shares of Common Stock immediately theretofore acquirable and receivable
                                         upon the conversion of the Note, such shares of stock, securities, cash or other assets
                                         that would have been issued or payable in such Organic Change with respect to or in exchange
                                         for the number of shares of Common Stock which would have been acquirable and receivable
                                         upon the conversion of the Note as of the date of such Organic Change (without taking
                                         into account any limitations or restrictions on the convertibility of the Note set forth
                                         in Section 2(b) or otherwise). All provisions of this Note must be included to the satisfaction
                                         of Holder in any new Note created pursuant to this section.

 

		a.	Adjustment
                                         Due to Distribution. If the Company shall declare or make any distribution of its assets
                                         (or rights to acquire its assets) to holders of Common Stock as a dividend, stock repurchase,
                                         by way of return of capital or otherwise (including any dividend or distribution to the
                                         Company’s shareholders in cash or shares (or rights to acquire shares) of capital
                                         stock of a subsidiary (i.e., a spin-off)) (a “Distribution”), then the Holder
                                         of this Note shall be entitled, upon any conversion of this Note after the date of record
                                         for determining shareholders entitled to such Distribution, to receive the amount of
                                         such assets which would have been payable to the Holder with respect to the shares of
                                         Common Stock issuable upon such conversion had such Holder been the holder of such shares
                                         of Common Stock on the record date for the determination of shareholders entitled to
                                         such Distribution.

 

		4.	Representations
                                         and Warranties of the Company. In connection with the transactions provided for herein,
                                         the Company hereby represents and warrants to the Holder the following:

 

		a.	Organization,
                                         Good Standing and Qualification. The Company is a corporation duly organized, validly
                                         existing and in good standing under the laws of the state of its incorporation and has
                                         all requisite corporate power and authority to carry on its business as now conducted.
                                         The Company is duly qualified to transact business and is in good standing in each jurisdiction
                                         in which the failure to so qualify would have a material adverse effect on its business
                                         or properties.

 

		b.	Authorization.
                                         All corporate action has been taken on the part of the Company, its officers, directors
                                         and stockholders necessary for the authorization, execution and delivery of this Agreement.
                                         The Company has taken all corporate action required to make all of the obligations of
                                         the Company reflected in the provisions of this Agreement, valid and enforceable obligations.
                                         The shares of capital stock issuable upon conversion of the Note have been authorized
                                         or will be authorized prior to the issuance of such shares.

 

		c.	Fiduciary
                                         Obligations. The Company hereby represents that it intends to use the proceeds of the
                                         Note primarily for the operations of its business and not for any personal, family, or
                                         household purpose. The Company hereby represents that its board of directors, in the
                                         exercise of its fiduciary duty, has approved the execution of this Agreement based upon
                                         a reasonable belief that the proceeds of the Note provided for herein is appropriate
                                         for the Company after reasonable inquiry concerning its financial objectives and financial
                                         situation.

 

		d.	Due
                                         Diligence Form. The Company hereby represents and warrants to Holder that all of the
                                         information furnished to Holder pursuant to the Due Diligence Form (“DDF”)
                                         dated June 12, 2020 is true and correct in all material respects as of the date hereof.

 

		5.	Covenants
                                         of the Company.

 

		a.	So
                                         long as the Company shall have any obligations under this Note, the Company shall not
                                         without the Holder’s prior written consent pay, declare or set apart for such payment
                                         any dividend or other distribution (whether in cash, property, or other securities) on
                                         shares of capital stock solely in the form of additional shares of Common Stock

 

		b.	So
                                         long as the Company shall have any obligations under this Note, the Company shall not
                                         without the Holder’s prior written consent sell, lease, or otherwise dispose of
                                         a significant portion of its assets outside the ordinary course of business. Any consent
                                         to the disposition of any assets may be conditioned upon a specified use of the proceeds
                                         thereof.

 

		6.	Issuance
                                         of Common Stock Equivalents. If the Company, at any time after the Issuance Date, shall
                                         issue any securities convertible into or exchangeable for, directly or indirectly, Common
                                         Stock (“Convertible Securities”), other than the Note, or any rights or warrants
                                         or options to purchase any such Common Stock or Convertible Securities, shall be issued
                                         or sold (collectively, the “Common Stock Equivalents”) and the aggregate
                                         of the price per share for which additional Shares of Common Stock may be issuable thereafter
                                         pursuant to such Common Stock Equivalent, plus the consideration received by the Company
                                         for issuance of such Common Stock Equivalent divided by the number of shares of Common
                                         Stock issuable pursuant to such Common Stock Equivalent (the “Aggregate Per Common
                                         Share Price”) shall be less than the applicable Conversion Price then in effect,
                                         or if, after any such issuance of Common Stock Equivalents, the price per share for which
                                         additional Shares of Common Stock may be issuable thereafter is amended or adjusted,
                                         and such price as so amended shall make the Aggregate Per Share Common Price be less
                                         than the applicable Conversion Price in effect at the time of such amendment or adjustment,
                                         then the applicable Conversion Price upon each such issuance or amendment shall be reduced
                                         to the lower of: (i) the Conversion Price; or (ii) a twenty-five percent (25%) discount
                                         to the lowest Aggregate Per Common Share Price (whether or not such Common Stock Equivalents
                                         are actually then exercisable, convertible or exchangeable in whole or in part) as of
                                         the earlier of (A) the date on which the Company shall enter into a firm contract for
                                         the issuance of such Common Stock Equivalent, or (B) the date of actual issuance of such
                                         Common Stock Equivalent. No adjustment of the applicable Conversion Price shall be made
                                         under this Section 6 upon the issuance of any Convertible Security which is outstanding
                                         on the day immediately preceding the Issuance Date.

 

    	 	4	 

     

    

 

		7.	Reservation
                                         of Shares. The Company shall at all times, so long as any principal amount of the Note
                                         is outstanding, reserve and keep available out of its authorized and unissued shares
                                         of Common Stock, solely for the purpose of effecting the conversion of the Note, eight
                                         times the number of shares of Common Stock as shall at all times be sufficient to effect
                                         the conversion of all of the principal amount, plus Interest and Default Interest, if
                                         any, of the Note then outstanding (“Share Reserve”), unless the Holder stipulates
                                         otherwise in the “Irrevocable Letter of Instructions to the Transfer Agent.”
                                         So long as this Note is outstanding, upon written request of the Holder or via telephonic
                                         communication, the Company’s Transfer Agent shall furnish to the Holder the then-current
                                         number of common shares issued and outstanding, the then- current number of common shares
                                         authorized, the then-current number of unrestricted shares, and the then-current number
                                         of shares reserved for third parties.

 

		8.	Voting
                                         Rights. The Holder of this Note shall have no voting rights as a note holder, except
                                         as required by law, however, upon the conversion of any portion of this Note into Common
                                         Stock, Holder shall have the same voting rights as all other Common Stock holders with
                                         respect to such shares of Common Stock then owned by Holder.

 

		9.	Reissuance
                                         of Note. In the event of a conversion or redemption pursuant to this Note of less than
                                         all of the Conversion Amount represented by this Note, the Company shall promptly cause
                                         to be issued and delivered to the Holder, upon tender by the Holder of the Note converted
                                         or redeemed, a new note of like tenor representing the remaining principal amount of
                                         this Note which has not been so converted or redeemed and which is in substantially the
                                         same form as this Note, as set forth above.

 

		10.	Default
                                         and Remedies.

 

		a.	Event
                                         of Default. For purposes of this Note, an “Event of Default” shall occur
                                         upon:

 

		i.

                                                                                 
	the
                                         Company’s default in the payment of the outstanding principal, Interest or Default
                                         Interest of this Note when due, whether at Maturity, acceleration or otherwise;
		ii.	the
                                         occurrence of a Default of Conversion as set forth in Section 2(e)(v);
		iii.	the
                                         failure by the Company for ten (10) days after notice to it to comply with any material
                                         provision of this Note not included in this Section 10(a);
		iv.	the
                                         Company’s breach of any covenants, warranties, or representations made by the Company
                                         herein;
		v.	any
                                         of the information in the DDF is false or misleading in any material respect;
		vi.	the
                                                                                                                                                                                                        default by the Company in any Other Agreement entered into by and between the Company and Holder, for purposes hereof
                                                                                                                                                                                                        “Other Agreement” shall mean, collectively, all agreements and instruments between, among or by: (1)
the Company, and, or for the benefit of, (2) the Holder and any affiliate of the Holder, including without limitation, promissory
notes;
		vii.	the
                                         cessation of operations of the Company or a material subsidiary;
		viii.	the
                                         Company pursuant to or within the meaning of any Bankruptcy Law; (a) commences a voluntary
                                         case; (b) consents to the entry of an order for relief against it in an involuntary case;
                                         (c) consents to the appointment of a Custodian of it or for all or substantially all
                                         of its property; (d) makes a general assignment for the benefit of its creditors; or
                                         (e) admits in writing that it is generally unable to pay its debts as the same become
                                         due;
		ix.	court
                                         of competent jurisdiction entering an order or decree under any Bankruptcy Law that:
                                         (a) is for relief against the Company in an involuntary case; (b) appoints a Custodian
                                         of the Company or for all or substantially all of its property; or (c)
orders the liquidation of the Company or any subsidiary, and the order or decree remains unstayed and in effect for thirty (30)
days;
		x.	the
                                         Company files a Form 15 with the SEC;
		xi.	the
                                         Company’s failure to timely file all reports required to be filed by it with the
                                         Securities and Exchange Commission;
		xii.	the
                                         Company’s failure to timely file all reports required to be filed by it with OTC
                                         Markets to remain a “Current Information” designated company;
		xiii.	the
                                         Company’s Common Stock is reported as “No Inside” by OTC Markets at
                                         any time while any principal, Interest or Default Interest under the Note remains outstanding;
		xiv.	the
                                         Company’s failure to maintain the required Share Reserve pursuant to the terms
                                         of the Irrevocable Letter of Instructions to the Transfer Agent;
		xv.	the
                                         Company directs its transfer agent not to transfer, or delays, impairs, or hinders its
                                         transfer agent in transferring or issuing (electronically or in certificated form) any
                                         certificate for Shares of Common Stock to be issued to the Holder upon conversion of
                                         or otherwise pursuant to this Note as and when required by this Note, or fails to remove
                                         (or directs its transfer agent not to remove or impairs, delays and/or hinders its transfer
                                         agent from removing) any restrictive legend (or to withdraw and stop transfer instructions)
                                         on any certificate for any Shares of Common Stock issued to the Holder upon conversion
                                         of or otherwise pursuant to this Note as and when required by this Note (or makes any
                                         written announcement, statement or threat that it does not intend to honor its obligations
                                         pursuant to a Conversion Notice submitted by the Holder) and any such failure shall continue
                                         uncured for three (3) Business Days after the Conversion Notice has been delivered to
                                         the Company by Holder;
		xvi.	the
                                         Company’s failure to remain current in its billing obligations with its transfer
                                         agent and such delinquency causes the transfer agent to refuse to issue Shares to Holder
                                         pursuant to a Conversion Notice;
		xvii.	the
                                         Company effectuates a reverse split of its Common Stock and fails to provide twenty (20)
                                         days prior written notice to Holder of its intention to do so; or

 

    	 	5	 

     

    

 

		xviii.	OTC
                                         Markets changes the Company’s designation to ‘No Information’ (Stop Sign), ‘Caveat Emptor’
                                         (Skull and Crossbones), or ‘OTC’, ‘Other OTC’ or ‘Grey Market’ (Exclamation Mark Sign).
		xix.	“Change
                                         of Control Transaction” means the occurrence after the date hereof of any of (a)
                                         an acquisition after the date hereof by an individual or legal entity or “group”
                                         (as described in Rule 13d-5(b)(1) promulgated under the Securities Exchange Act of 1934)
                                         of effective control (whether through legal or beneficial ownership of capital stock
                                         of the Company, by contract or otherwise) of in excess of 40% of the voting securities
                                         of the Company, (b) the Company merges into or consolidates with any other Person, as
                                         that term is defined in the Securities Act of 1933, as amended, or any Person merges
                                         into or consolidates with the Company and, after giving effect to such transaction, the
                                         stockholders of the Company immediately prior to such transaction own less than 60% of
                                         the aggregate voting power of the Company or the successor entity of such transaction,
                                         (c) the Company sells or transfers all or substantially all of its assets to another
                                         Person and the stockholders of the Company immediately prior to such transaction own
                                         less than 60% of the aggregate voting power of the acquiring entity immediately after
                                         the transaction, (d) a replacement at one time or within a three year period of more
                                         than one-half of the members of the Board of Directors which is not approved by a majority
                                         of those individuals who are members of the Board of Directors on the Issuance Date (or
                                         by those individuals who are serving as members of the Board of Directors on any date
                                         whose nomination to the Board of Directors was approved by a majority of the members
                                         of the Board of Directors who are members on the date hereof), or (e) the execution by
                                         the Company of an agreement to which the Company is a party or by which it is bound.
		xx.	Altering
                                         the conversion terms of any notes that are currently outstanding.
		xxi.	Notwithstanding
                                         anything to the contrary contained in this Note or the other related or companion documents,
                                         a breach or default by the Company of any covenant or other term or condition contained
                                         in any of other agreement entered into by the Company, after the passage of all applicable
                                         notice and cure or grace periods therein.

 

The
Term “Bankruptcy Law” means Title 11, U.S. Code, or any similar Federal or State Law for the relief of debtors. The
term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

		b.	Remedies.
                                         If an Event of Default occurs, the Holder may in its sole discretion determine to request
                                         immediate repayment of all or any portion of the Note that remains outstanding; at such
                                         time the Company will be required to pay the Holder the Default Amount (defined herein)
                                         in cash. For purposes hereof, the “Default Amount” shall mean: the product
                                         of (A) the then outstanding principal amount of the Note, plus accrued Interest and Default
                                         Interest, divided by (B) the Conversion Price as determined on the Issuance Date, multiplied
                                         by (C) the highest price at which the Common Stock traded at any time between the Issuance
                                         Date and the date of the Event of Default. If the Company fails to pay the Default Amount
                                         within five (5) Business Days of written notice that such amount is due and payable,
                                         then Holder shall have the right at any time, so long as the Company remains in default
                                         (and so long and to the extent there are a sufficient number of authorized but unissued
                                         shares), to require the Company, upon written notice, to immediately issue, in lieu of
                                         the Default Amount, the number of shares of Common Stock of the Company equal to the
                                         Default Amount divided by the Conversion Price then in effect.
	 	 	 
		c.	If
                                         at any time after the Issuance Date, the Company is not DWAC Eligible, then an additional
                                         5% discount shall be factored into the Conversion Price. If at any time after the Issuance
                                         Date, the Common Stock is not DTC Eligible, then an additional 5% discount shall be factored
                                         into the Conversion Price. In addition, if any Event of Default occurs after the Issuance
                                         Date, then an additional 5% discount shall be factored into the Conversion Price for
                                         each of the first three (3) Events of Default that occur after the Issuance Date (for
                                         the avoidance of doubt, each occurrence of any Event of Default shall be deemed to be
                                         a separate occurrence for purposes of the foregoing reductions, even if the same Event
                                         of Default occurs three (3) separate times). For example, if there are three (3) separate
                                         occurrences of an Event of Default, then an additional 5% discount shall be factored
                                         into the Conversion Price for the first such occurrence, and so on for each of the second
                                         and third occurrences of such Event of Default.

 

		11.	Vote
                                         to Change the Terms of this Note. This Note and any provision hereof may only be amended
                                         by an instrument in writing signed by the Company and the Holder.
	 	 	 
		12.	Lost
                                         or Stolen Note. Upon receipt by the Company of evidence satisfactory to the Company of
                                         the loss, theft, destruction or mutilation of this Note, and, in the case of loss, theft
                                         or destruction, of an indemnification undertaking by the Holder to the Company in a form
                                         reasonably acceptable to the Company and, in the case of mutilation, upon surrender and
                                         cancellation of the Note, the Company shall execute and deliver a new Note of like tenor
                                         and date and in substantially the same form as this Note; provided, however, the Company
                                         shall not be obligated to re-issue a Note if the Holder contemporaneously requests the
                                         Company to convert such remaining principal amount, plus accrued Interest and Default
                                         Interest, if any, into Common Stock.
	 	 	 
		13.	Payment
                                         of Collection, Enforcement and Other Costs. If: (i) this Note is placed in the hands
                                         of an attorney for collection or enforcement or is collected or enforced through any
                                         legal proceeding; or (ii) an attorney is retained to represent the Holder of this Note
                                         in any bankruptcy, reorganization, receivership or other proceedings affecting creditors’
                                         rights and involving a claim under this Note, then the Company shall pay to the Holder
                                         all reasonable attorneys’ fees, costs and expenses incurred in connection therewith,
                                         in addition to all other amounts due hereunder.
	 	 	 
		14.	Cancellation.
                                         After all principal, accrued Interest and Default Interest, if any, at any time owed
                                         on this Note has been paid in full or otherwise converted in full, this Note shall automatically
                                         be deemed canceled, shall be surrendered to the Company for cancellation and shall not
                                         be reissued.

 

    	 	6	 

     

    

 

		15.	Waiver
                                         of Notice. To the extent permitted by law, the Company hereby waives demand, notice,
                                         protest and all other demands and notices in connection with the delivery, acceptance,
                                         performance, default or enforcement of this Note.
	 	 	 
		16.	Governing
                                         Law. This Note shall be construed and enforced in accordance with, and all questions
                                         concerning the construction, validity, interpretation and performance of this Note shall
                                         be governed by, the laws of the State of Texas, without giving effect to provisions thereof
                                         regarding conflict of laws. Each party hereby irrevocably submits to the non-exclusive
                                         jurisdiction of the state and federal courts sitting in Texas for the adjudication of
                                         any dispute hereunder or in connection herewith or with any transaction contemplated
                                         hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in
                                         any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction
                                         of any such court, that such suit, action or proceeding is brought in an inconvenient
                                         forum or that the venue of such suit, action or proceeding is improper. Each party hereby
                                         irrevocably waives personal service of process and consents to process being served in
                                         any such suit, action or proceeding by sending, through certified mail or overnight courier,
                                         a copy thereof to such party at the address for such notices to it under this Agreement
                                         and agrees that such service shall constitute good and sufficient service of process
                                         and notice thereof. Nothing contained herein shall be deemed to limit in any way any
                                         right to serve process in any manner permitted by law. EACH PARTY HEREBY IRREVOCABLY
                                         WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION
                                         OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR
                                         ANY TRANSACTION CONTEMPLATED HEREBY.
	 	 	 
		17.	Remedies,
                                         Characterizations, Other Obligations, Breaches and Injunctive Relief. The remedies provided
                                         in this Note shall be cumulative and in addition to all other remedies available under
                                         this Note, at law or in equity (including a decree of specific performance and/or other
                                         injunctive relief), and no remedy contained herein shall be deemed a waiver of compliance
                                         with the provisions giving rise to such remedy and nothing herein shall limit the Holder’s
                                         right to pursue actual damages for any failure by the Company to comply with the terms
                                         of this Note. The Company covenants to the Holder that there shall be no characterization
                                         concerning this instrument other than as expressly provided herein. Amounts set forth
                                         or provided for herein with respect to payments, conversion and the like (and the computation
                                         thereof) shall be the amounts to be received by the Holder thereof and shall not, except
                                         as expressly provided herein, be subject to any other obligation of the Company (or the
                                         performance thereof).
	 	 	 
		18.	Specific
                                         Shall Not Limit General; Construction. No specific provision contained in this Note shall
                                         limit or modify any more general provision contained herein. This Note shall be deemed
                                         to be jointly drafted by the Company and the Holder and shall not be construed against
                                         any person as the drafter hereof.
	 	 	 
		19.	Failure
                                         or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise
                                         of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall
                                         any single or partial exercise of any such power, right or privilege preclude further
                                         exercise thereof or of any other right, power or privilege.
	 	 	 
		20.	Partial
                                         Payment. In the event of partial payment by the Holder, the principal sum due to the
                                         Holder shall be prorated based on the consideration actually paid by the Holder such
                                         that the Company is only required to repay the amount funded and the Company is not required
                                         to repay any unfunded portion of this Note, with the exception of any OID contemplated
                                         herein.
	 	 	 
		21.	Entire
                                         Agreement. This Agreement constitutes the full and entire understanding and agreement
                                         between the parties with regard to the subjects herein. None of the terms of this Agreement
                                         can be waived or modified, except by an express agreement signed by all Parties hereto.
	 	 	 
		22.	Additional
                                         Representations and Warranties. The Company expressly acknowledges that the Holder, including
                                         but not limited to its officer, directors, employees, agents, and affiliates, have not
                                         made any representation or warranty to it outside the terms of this Agreement. The Company
                                         further acknowledges that there have been no representations or warranties about future
                                         financing or subsequent transactions between the parties.
	 	 	 
		23.	Notices.
                                         All notices and other communications given or made to the Company pursuant hereto shall
                                         be in writing (including facsimile or similar electronic transmissions) and shall be
                                         deemed effectively given: (i) upon personal delivery, (ii) when sent by electronic mail
                                         or facsimile, as deemed received by the close of business on the date sent, (iii) five
                                         (5) days after having been sent by registered or certified mail, return receipt requested,
                                         postage prepaid or (iv) one (1) day after deposit with a nationally recognized overnight
                                         courier, specifying next day delivery. All communications shall be sent either by email,
                                         or fax, or to the email address or facsimile number set forth on the signature page hereto.
                                         The physical address, email address, and phone number provided on the signature page
                                         hereto shall be considered valid pursuant to the above stipulations; should the Company’s
                                         contact information change from that listed on the signature page, it is incumbent on
                                         the Company to inform the Holder.
	 	 	 
		24.	Severability.
                                         If one or more provisions of this Agreement are held to be unenforceable under applicable
                                         law, such provision shall be excluded from this Agreement and the rest of the Agreement
                                         shall be enforceable in accordance with its terms.
	 	 	 
		25.	Usury.
                                         If it shall be found that any interest or other amount deemed interest due hereunder
                                         violates the applicable law governing usury, the applicable rate of interest due hereunder
                                         shall automatically be lowered to equal the maximum rate of interest permitted under
                                         applicable law. The Company covenants (to the extent that it may lawfully do so) that
                                         it will not seek to claim or take advantage of any law that would prohibit or forgive
                                         the Company from paying all or a portion of the principal, Interest or Default Interest
                                         on this Note.

 

    	 	7	 

     

    

 

		26.	Successors
                                         and Assigns. This Agreement shall be binding upon all successors and assigns hereto.
                                         The Company may not assign this Note without the prior written consent of Holder. This
                                         Note and any shares of Common Stock issued upon conversion of this Note may be offered,
                                         sold, assigned or transferred by Holder without the consent of the Company.
	 	 	 
		27.	Right
                                         of First Refusal. If at any time while this Note is outstanding, the Company has a bona
                                         fide offer of capital or financing from any 3rd party, that the Company intends to act
                                         upon, then the Company must first offer such opportunity to the Holder to provide such
                                         capital or financing to the Company on the same terms as each respective 3rd party’s
                                         terms. Should the Holder be unwilling or unable to provide such capital or financing
                                         to the Company within 10 trading days from Holder’s receipt of written notice of
                                         the offer (the “Offer Notice”) from the Company, then the Company may obtain
                                         such capital or financing from that respective 3rd party upon the exact same terms and
                                         conditions offered by the Company to the Holder, which transaction must be completed
                                         within 30 days after the date of the Offer Notice. If the Company does not receive the
                                         capital or financing from the respective 3rd party within 30 days after the date of the
                                         respective Offer Notice, then the Company must again offer the capital or financing opportunity
                                         to the Holder as described above, and the process detailed above shall be repeated. The
                                         Offer Notice must be sent via electronic mail to [___].
	 	 	 
		28.	Terms
                                         of Future Financings. So long as this Note is outstanding, upon any issuance by the Company
                                         or any of its subsidiaries of any security with any term more favorable to the holder
                                         of such security or with a term in favor of the holder of such security that was not
                                         similarly provided to the Holder in this Note, then the Company shall notify the Holder
                                         of such additional or more favorable term and such term, at Holder’s option, shall
                                         become a part of the transaction documents with the Holder. The types of terms contained
                                         in another security that may be more favorable to the holder of such security include,
                                         but are not limited to, terms addressing conversion discounts, prepayment rate, conversion
                                         lookback periods, interest rates, original issue discounts, stock sale price, private
                                         placement price per share, and warrant coverage.

 

—
SIGNATURE PAGE TO FOLLOW—

 

    	 	8	 

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Note to be signed by its CEO, on and as of the Issuance Date.

 

COMPANY

 

Signature:

 

	By:	 	 
	 	 	 
	Title:	 	 
	 	 	 
	Address:
    	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Email:
    	 	 
	 	 	 
	Phone:
    	 	 
	 	 	 
	Facsimile:
    	 	 

 

    	 	9	 

     

    

 

Exhibit
1

Conversion
Notice

 

Reference
is made to the 8% Convertible Note issued by mPhase Technologies (the “Note”), dated June 12, 2020 in the principal
amount of $103,000 with 8% interest. This note currently holds a principal balance of $103,000.00. The features of conversion
stipulate a Conversion Price equal to a 38% discount to the lowest closing price during the previous twenty (20) trading days
to the date of a Conversion Notice, pursuant to the provisions of Section 2(a)(ii) in the Note.

 

In
accordance with and pursuant to the Note, the undersigned hereby elects to convert $                 of
the principal/interest balance of the Note, indicated below into shares of Common Stock (the “Common Stock”),
of the Company, by tendering the Note specified as of the date specified below.

 

Date
of Conversion:                                  

 

Please
confirm the following information:

Conversion Amount: $ _____________

Conversion
Price: $ _______________ (_____ % discount from $__________________)

Number
of Common Stock to be issued: ______________________________________________________

Current Issued/Outstanding: ______________________________________________________________

 

If
the Issuer is DWAC eligible, please issue the Common Stock into which the Note is being converted in the name of the Holder of
the Note and transfer the shares electronically to:

 

[BROKER
INFORMATION]

 

Holder
Authorization:

[___]

Tax
ID: [___]

 

[DATE]

 

[CONTINUED
ON NEXT PAGE]

 

    	 	10	 

     

    

 

PLEASE
BE ADVISED, pursuant to Section 2(e)(ii) of the Note, “Upon receipt by the Company of a copy of the Conversion Notice, the
Company shall as soon as practicable, but in no event later than one (1) Business Day after receipt of such Conversion Notice,
SEND, VIA EMAIL, FACSIMILE OR OVERNIGHT COURIER, A CONFIRMATION OF RECEIPT OF SUCH CONVERSION NOTICE TO SUCH HOLDER INDICATING
THAT THE COMPANY WILL PROCESS SUCH CONVERSION NOTICE in accordance with the terms herein. Within two (2) Business Days after the
date of the Conversion Confirmation, the Company shall have issued and electronically transferred the shares to the Broker indicated
in the Conversion Notice; should the Company be unable to transfer the shares electronically, they shall, within two (2) Business
Days after the date of the Conversion Confirmation, have surrendered to FedEx for delivery the next day to the address as specified
in the Conversion Notice, a certificate, registered in the name of the Holder, for the number of shares of Common Stock to which
the Holder shall be entitled.”

 

Signature:

 

	 	 
	Anshu Bhatnagar	 
	CEO	 

mPhase
Technologies Inc.

 

    	 	11EXHIBIT 10.1

    

    

    PVH CORP.

    STOCK INCENTIVE PLAN

    (As Amended
        and Restated Effective April 30, 2020)

    1. Establishment, Objectives and Duration.

    
      	
              (a)

            	
              Establishment of the Plan. 
                PVH Corp. established this incentive compensation plan to permit the granting of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares, Performance Share
                Units and Other Stock-Based Awards to the persons and for the purposes described herein.  The Plan first became effective on April 27, 2006 (the “Effective Date”), was amended and restated effective April 30, 2009, June 25, 2009, June 23,
                2011, April 26, 2012, May 7, 2014 and April 30, 2015 and had its material terms approved at the 2006, 2011 and 2015 Annual Meeting of Stockholders.  Definitions of capitalized terms used in the Plan are contained in the attached glossary,
                which is an integral part of the Plan.

            

    

    
      	
              (b)

            	
              Purposes of the Plan. 
                The purposes of the Plan are to induce certain individuals to remain in the employ, or to continue to serve as directors of, or consultants or advisors to, the Company and its present and future Subsidiaries, to attract new individuals to
                enter into such employment or service and to encourage such individuals to secure or increase on reasonable terms their stock ownership in the Company.  The Board believes that the granting of Awards under the Plan will promote continuity
                of management and increased incentive and personal interest in the welfare of the Company by those who are or may become primarily responsible for shaping and carrying out the long range plans of the Company and securing its continued
                growth and financial success.

            

    

    
      	
              (c)

            	
              Duration of the Plan. 
                No Award may be granted under the Plan after April 29, 2030, or such earlier date as the Board shall determine.  The Plan will remain in effect with respect to outstanding Awards until no Awards remain outstanding.

            

    

    2. Administration of the Plan.

    
      	
              (a)

            	
              The Committee. 
                Except as otherwise provided in Section 2(d), the Plan shall be administered by the “Committee.”  The Committee shall consist of two or more members of the Board.  It is intended that all of the members of the Committee shall be
                “non-employee directors” within the meaning of Rule 16b-3(b)(3) promulgated under the Exchange Act.  The Committee shall be appointed annually by the Board, which may at any time and from time to time remove any members of the Committee,
                with or without cause, appoint additional members to the Committee and fill vacancies, however caused, in the Committee.  A majority of the members of the Committee shall constitute a quorum.  All determinations of the Committee shall be
                made by a majority of its members present at a meeting duly called and held, except that the Committee may delegate to any one of its members the authority of the Committee with respect to the grant of Awards to any person who shall not be
                an officer and/or director of the Company.  Any decision or determination of the Committee reduced to writing and signed by all of the members of the Committee (or by the member(s) of the Committee to whom authority has been delegated)
                shall be fully as effective as if it had been made at a meeting duly called and held.

            

    

    
      	
              (b)

            	
              Authority of the Committee. 
                Subject to Applicable Laws and the provisions of the Plan (including any other powers given to the Committee hereunder), and except as otherwise provided by the Board, the Committee shall have full and final authority in its discretion to
                take all actions determined by the Committee to be necessary in the administration of the Plan, including, without limitation, discretion to:

            

    

    
      	
              (i)

            	
              select the Employees, Directors and Consultants to whom Awards may from time to time be granted hereunder;

            

    

    
      	
              (ii)

            	
              determine whether and to what extent Awards are granted hereunder;

            

    

    
      	
              (iii)

            	
              determine the size and types of Awards granted hereunder;

            

    

    
      	
              (iv)

            	
              approve forms of Award Agreement for use under the Plan, which may include provisions stating that
                employment for a specified period will not be required for vesting of an Award upon the occurrence of a Defined Event as set forth in an Award Agreement (or otherwise provided for in a Participant’s employment agreement with the Company or
                any of its Subsidiaries);

            

    

    
      	
              (v)

            	
              determine the terms and conditions of any Award granted hereunder;

            

    

    
      	
              (vi)

            	
              establish performance goals for any Performance Period and determine whether such goals were satisfied;

            

    

    
      	
              (vii)

            	
              amend the terms of any outstanding Award granted under the Plan; provided that, except as otherwise
                provided in Section 16, no such amendment shall reduce the Exercise Price of outstanding Options or the grant price of outstanding SARs without the approval of the stockholders of the Company;

            

    

    
      	
              (viii)

            	
              construe and interpret the terms of the Plan and any Award Agreement entered into under the Plan, and to
                decide all questions of fact arising in its application; and

            

    

    
      	
              (ix)

            	
              take such other action, not inconsistent with the terms of the Plan, as the Committee deems appropriate.

            

    

    
      	
              (c)

            	
              Effect of Committee’s
                    Decision.  All decisions, determinations and interpretations of the Committee shall be final, binding and conclusive on all persons, including the Company, its Subsidiaries, its stockholders, Employees, Directors, Consultants
                and their estates and beneficiaries.

            

    

    
      	
              (d)

            	
              Delegation.  As
                permitted by Applicable Laws, the Committee may delegate its authority as identified herein, including the power and authority to make Awards to Participants who are not “insiders” subject to Section 16(b) of the Exchange Act, pursuant to
                such conditions and limitations as the Committee may establish.

            

    

    3. Shares Subject to the Plan; Effect of Grants; Individual Limits.

    
      	
              (a)

            	
              Number of Shares Available
                    for Grants.  Subject to adjustment as provided in Section 18 hereof, the maximum number of Shares which may be issued pursuant to Awards under the Plan shall be 20,436,589. The 20,436,589 shares referred to in the immediately
                preceding sentence include the 3,000,000 Shares initially included in the Plan as of the Effective Date, 4,400,000 shares added to the Plan as of June 25, 2009, 1,093,649 shares added to the Plan pursuant to paragraph (i) of this Section
                3(a) between the Effective Date and August 31, 2012, and 4,500,000 Shares added to the Plan as of April 26, 2012, 1,442,940 shares added to the plan as of February 15, 2013 in connection with the Company’s acquisition of The Warnaco Group,
                Inc. (“Warnaco”) (of such 1,442,940 shares, 580,023 shares represent outstanding awards under Warnaco’s equity plans assumed by the Company and 862,917 shares represent awards to be issued in the future), 3,000,000 shares added to the Plan
                as of April 30, 2015 and 3,000,000 shares added to the Plan as of April 30, 2020. Any of the Shares reserved and available for issuance under the Plan may be used for any type of Award under the Plan, and any or all of the Shares reserved
                for issuance under the Plan shall be available for issuance pursuant to Incentive Stock Options.

            

    

    
      	
              (i)

            	
              Shares that are potentially deliverable under an Award granted under the Plan that expires or is canceled,
                forfeited, settled in cash or otherwise settled without the delivery of Shares shall not be treated as having been issued under the Plan.

            

    

    
      	
              (ii)

            	
              Shares that are issued pursuant to awards that are assumed, converted or substituted in connection with a
                merger, acquisition, reorganization or similar transaction shall not be treated as having been issued under the Plan; provided, however,
                that the Shares referred to in this paragraph (ii) shall not be considered for purposes of determining the number of Shares available for grant as Incentive Stock Options.

            

    

    Notwithstanding any other provisions herein: (i) shares tendered in payment of the exercise price of an Award shall
      not be added to the maximum share limitations described above, (ii) shares withheld by the Company to satisfy the tax withholding obligation shall not be added to the maximum share limitations described above, and (iii) all shares covered by a Stock
      Appreciation Right, to the extent that it is exercised and whether or not shares of Common Stock are actually issued upon exercise of the right, shall be considered issued or transferred pursuant to the Plan.

    The Shares to be issued pursuant to Awards may be authorized but unissued Shares or treasury Shares.

    
      	
              (b)

            	
              Individual Limits. 
                Subject to adjustment as provided in Section 16 hereof, the maximum aggregate number of Shares with respect to which Awards may be granted in any calendar year to any one Participant who is not a Director shall be 1,000,000 Shares.

            

    

    
      	
              (c)

            	
              Individual Director Limit.
                Notwithstanding any other provisions herein, the maximum aggregate number of Shares with respect to which Awards may be granted during any 12-month period to any one Director in respect of the Director’s service as a member of the Board or
                a committee of the Board shall be limited to a number that, combined with any cash fees or other compensation paid to such Director during such 12-month period in respect of the Director’s service on the Board or a committee of the Board,
                shall not exceed $750,000 in total value, with the value of any such Director Awards based on the grant date fair value of such Awards for financial reporting purposes.  The Board may make exceptions to this limit for a Director who is
                serving as the independent presiding director of the Board, as the Board may determine in its discretion, provided that the Director receiving such additional compensation may not participate in the decision to award such compensation.

            

    

    
      	
              (d)

            	
              Share Counting. 
                Each Share underlying a Stock Option or Stock Appreciation Right shall be counted as one share for purposes of the limits set forth in Sections 3(a) and 3(b).  Each Share underlying a combination of Stock Appreciation Right and Stock
                Option, where the exercise of the Stock Appreciation Right or Stock Option results in the cancellation of the other, shall be counted as one share for purposes of the limits set forth in Sections 3(a) and 3(b).  Each Share underlying an
                Award of Restricted Stock, Restricted Stock Unit, Performance Share, Performance Share Units or Other Stock-Based Award shall be counted as two shares for purposes of the limits set forth in Sections 3(a) and 3(b).

            

    

    4. Eligibility and Participation.

    
      	
              (a)

            	
              Eligibility. 
                Persons eligible to participate in the Plan include all Employees, Directors and Consultants.

            

    

    
      	
              (b)

            	
              Actual Participation. 
                Subject to the provisions of the Plan, the Committee may, from time to time, select from all eligible Employees, Directors and Consultants, those to whom Awards shall be granted and shall determine the nature and amount of each Award.  The
                Committee may establish additional terms, conditions, rules or procedures to accommodate the rules or laws of applicable foreign jurisdictions and to afford Participants favorable treatment under such laws; provided, however, that no Award shall be granted under any
                such additional terms, conditions, rules or procedures with terms or conditions which are inconsistent with the provisions of the Plan.

            

    

    5. Types of Awards.

    
      	
              (a)

            	
              Type of Awards. 
                Awards under the Plan may be in the form of Options (both Nonqualified Stock Options and/or Incentive Stock Options), SARs, Restricted Stock, Restricted Stock Units, Performance Shares, Performance Share Units and Other Stock-Based Awards.

            

    

    
      	
              (b)

            	
              Designation of Award. 
                Each Award shall be designated in the Award Agreement.

            

    

    6. Options.

    
      	
              (a)

            	
              Grant of Options. 
                Subject to the terms and provisions of the Plan, Options may be granted to Participants in such number and upon such terms, and at any time and from time to time, as shall be determined by the Committee.

            

    

    
      	
              (b)

            	
              Award Agreement. 
                Each Option grant shall be evidenced by an Award Agreement that shall specify the Exercise Price, the duration of the Option, the number of Shares to which the Option pertains, and such other provisions as the Committee shall determine
                including, but not limited to, the Option vesting schedule, repurchase provisions, rights of first refusal, forfeiture provisions, form of payment (cash, Shares, or other consideration) upon settlement of the Award, and payment
                contingencies.  The Award Agreement also shall specify whether the Option is intended to be an Incentive Stock Option or a Nonqualified Stock Option.  Options that are intended to be Incentive Stock Options shall be subject to the
                limitations set forth in Section 422 of the Code.  Options granted pursuant to the Plan shall not provide Participants with the right to receive Dividends or Dividend Equivalents.

            

    

    
      	
              (c)

            	
              Exercise Price. 
                Except for Options adjusted pursuant to Section 18 herein, and replacement Options granted in connection with a merger, acquisition, reorganization or similar transaction, the Exercise Price for each grant of an Option shall not be less
                than 100% of the Fair Market Value of a Share on the date the Option is granted.  However, in the case of an Incentive Stock Option granted to a Participant who, at the time the Option is granted, owns stock representing more than 10% of
                the voting power of all classes of stock of the Company or any Subsidiary, the Exercise Price for each grant of an Option shall not be less than 110% of the Fair Market Value of a Share on the date the Option is granted.

            

    

    
      	
              (d)

            	
              Term of Options. 
                The term of an Option granted under the Plan shall be determined by the Committee, in its sole discretion; provided, however, that such term shall not exceed 10 years.  However, in the case of an Incentive Stock Option granted to a Participant who, at the
                time the Option is granted, owns stock representing more than 10% of the voting power of all classes of stock of the Company or any Subsidiary, the term of the Incentive Stock Option shall be five years from the date of grant thereof or
                such shorter term as may be provided in the Award Agreement.

            

    

    
      	
              (e)

            	
              Exercise of Options. 
                Options granted under this Section 6 shall be exercisable at such times and be subject to such restrictions and conditions as set forth in the Award Agreement and as the Committee shall in each instance approve, which need not be the same
                for each grant or for each Participant.  Except upon a termination of employment or, pursuant to Section 17, in the event of a Participant’s Qualifying Termination during the two year period following the occurrence of a Change in Control
                or Subsidiary Disposition, an Option granted under the Plan shall have a minimum period of vesting of three years, which period may, at the discretion of the Committee, lapse on a pro-rated, graded, or cliff basis.  However, in no event
                will the vesting of an Option occur within one year of the date of grant, except that the Committee will be entitled to make grants of any kind of Award under the Plan without regard to the minimum vesting condition in an aggregate amount
                not to exceed 5% of the maximum number of Shares authorized for issuance under the Plan.

            

    

    
      	
              (f)

            	
              Payments. 
                Options granted under this Section 6 shall be exercised by the delivery of a written notice to the Company setting forth the number of Shares with respect to which the Option is to be exercised and payment of the Exercise Price.  The
                Exercise Price of an Option shall be payable to the Company: (i) in cash or its equivalent, (ii) by tendering (either actually or constructively by attestation) Shares having an aggregate Fair Market Value at the time of exercise equal to
                the Exercise Price, (iii) in any other manner then permitted by the Committee, or (iv) by a combination of any of the permitted methods of payment.  The Committee may limit any method of payment, other than that specified under (i), for
                administrative convenience, to comply with Applicable Laws or otherwise.

            

    

    
      	
              (g)

            	
              Restrictions on Share
                    Transferability.  The Committee may impose such restrictions on any Shares acquired pursuant to the exercise of an Option granted under this Section 6 as it may deem advisable, including, without limitation, restrictions
                under applicable federal securities laws, under the requirements of any stock exchange or market upon which such Shares are then listed and/or traded, and under any blue sky or state securities laws applicable to such Shares.

            

    

    
      	
              (h)

            	
              Termination of Employment
                    or Service.  Each Participant’s Option Award Agreement shall set forth the extent to which the Participant shall have the right to exercise the Option following termination of the Participant’s employment or, if the
                Participant is a Director or Consultant, service with the Company and its Subsidiaries.  Such provisions shall be determined in the sole discretion of the Committee, need not be uniform among all Options, and may reflect distinctions based
                on the reasons for termination of employment or service.

            

    

    7. Stock Appreciation Rights.

    
      	
              (a)

            	
              Grant of SARs.  Subject to the terms and provisions of the Plan, SARs may be granted to Participants in such amounts and upon such terms, and at any time
                and from time to time, as shall be determined by the Committee.

            

    

    
      	
              (b)

            	
              Award Agreement.  Each SAR grant shall be evidenced by an Award Agreement that shall specify the grant price, the term of the SAR, and such other provisions
                as the Committee shall determine.  SARs granted pursuant to the Plan shall not provide Participants with the right to receive Dividends or Dividend Equivalents.

            

    

    
      	
              (c)

            	
              Grant Price. 
                The grant price of a freestanding SAR shall not be less than 100% of the Fair Market Value of a Share on the date of grant of the SAR; provided,
                however, that these limitations shall not apply to Awards that are adjusted pursuant to Section 18 herein.

            

    

    
      	
              (d)

            	
              Term of SARs.  The term of a SAR granted under the Plan shall be determined by the Committee, in its sole discretion; provided, however, that such term shall not exceed 10 years.

            

    

    
      	
              (e)

            	
              Exercise of SARs. 
                SARs may be exercised upon whatever terms and conditions the Committee, in its sole discretion, imposes upon them and sets forth in the Award Agreement.  Except upon a termination of employment or, pursuant to Section 17, in the event of a
                Participant’s Qualifying Termination during the two year period following the occurrence of a Change in Control or Subsidiary Disposition, a SAR granted under the Plan shall have a minimum period of vesting of three years, which period may,
                at the discretion of the Committee, lapse on a pro-rated, graded, or cliff basis.  However, in no event will the vesting of a SAR occur within one year of the date of grant, except that the Committee will be entitled to make grants of any
                kind of Award under the Plan without regard to the minimum vesting condition in an aggregate amount not to exceed 5% of the maximum number of Shares authorized for issuance under the Plan.

            

    

    
      	
              (f)

            	
              Payment of SAR Amount.  Upon exercise of a SAR, a Participant shall be entitled to receive payment from the Company in an amount determined by multiplying:

            

    

    
      	
              (i)

            	
              the difference between the Fair Market Value of a Share on the date of exercise over the grant price; by

            

    

    
      	
              (ii)

            	
              the number of Shares with respect to which the SAR is exercised.

            

    

    At the discretion of the Committee, the payment upon SAR exercise may be in cash, in Shares of equivalent value, or
      in some combination thereof.

    
      	
              (g)

            	
              Termination of Employment
                    or Service.  Each SAR Award Agreement shall set forth the extent to which the Participant shall have the right to exercise
                the SAR following termination of the Participant’s employment or, if the Participant is a Director or Consultant, service with the Company and its Subsidiaries.  Such provisions shall be determined in the sole discretion of the Committee,
                need not be uniform among all SARs, and may reflect distinctions based on the reasons for termination of employment or service.

            

    

    8. Restricted Stock.

    
      	
              (a)

            	
              Grant of Restricted Stock.  Subject to the terms and provisions of the Plan, Restricted Stock may be granted to Participants in such amounts and upon such terms, and
                at any time and from time to time, as shall be determined by the Committee.

            

    

    
      	
              (b)

            	
              Award Agreement.  Each Restricted Stock grant shall be evidenced by an Award Agreement that shall specify the Period of Restriction, the number of Shares of
                Restricted Stock granted, and such other provisions as the Committee shall determine.

            

    

    
      	
              (c)

            	
              Period of Restriction and
                    Other Restrictions.  Except upon a termination of employment or, pursuant to Section 17, in the event of a Participant’s
                Qualifying Termination during the two year period following the occurrence of a Change in Control or Subsidiary Disposition, an Award of Restricted Stock shall have a minimum Period of Restriction of three years, which period may, at the
                discretion of the Committee, lapse on a pro-rated, graded, or cliff basis (as specified in an Award Agreement).  However, in no event will the vesting of an Award of Restricted Stock occur within one year of the date of grant, except that
                the Committee will be entitled to make grants of any kind of Award under the Plan without regard to the minimum vesting condition in an aggregate amount not to exceed 5% of the maximum number of Shares authorized for issuance under the
                Plan.  The Committee shall impose such other conditions and/or restrictions on any Shares of Restricted Stock granted pursuant to the Plan as it may deem advisable including, without limitation, a requirement that Participants pay a
                stipulated purchase price for each Share of Restricted Stock, a requirement that the issuance of Shares of Restricted Stock be delayed, restrictions based upon the achievement of specific performance goals, additional time-based
                restrictions, and/or restrictions under Applicable Laws, or holding requirements or sale restrictions placed on the Shares by the Company upon vesting of such Restricted Stock. As soon as practicable following the grant of Restricted Stock,
                the Shares of Restricted Stock shall be registered in the Participant’s name in certificate or book-entry form.  If a certificate is issued, it shall bear an appropriate legend referring to the restrictions and it shall be held by the
                Company, or its agent, on behalf of the Participant until the Period of Restriction has lapsed or otherwise been satisfied.  If the Shares are registered in book-entry form, the restrictions shall be placed on the book-entry registration.

            

    

    
      	
              (d)

            	
              Removal of Restrictions. 
                Subject to Applicable Laws, Restricted Stock shall become freely transferable by the Participant after the last day of the Period of Restriction applicable thereto.  Once Restricted Stock is released from the restrictions, the Participant
                shall be entitled to receive a certificate evidencing the Shares.

            

    

    
      	
              (e)

            	
              Voting Rights. 
                Unless otherwise determined by the Committee and set forth in a Participant’s Award Agreement, to the extent permitted or required by Applicable Laws, Participants holding Shares of Restricted Stock granted hereunder may exercise full
                voting rights with respect to those Shares during the Period of Restriction.

            

    

    
      	
              (f)

            	
              Dividends. 
                During the Period of Restriction, Participants holding Shares of Restricted Stock shall be credited with all Dividends paid with respect to all Shares while they are so held, subject to the same restrictions on transferability and
                forfeitability as the Restricted Stock with respect to which they were paid.  Any such Dividends shall be paid if and when the underlying Shares of Restricted Stock vest.

            

    

    
      	
              (g)

            	
              Termination of Employment
                    or Service.  Each Award Agreement shall set forth the extent to which the Participant shall have the right to retain unvested Restricted Stock following termination of the Participant’s employment or, if the Participant is a
                Director or Consultant, service with the Company and its Subsidiaries.  Such provisions shall be determined in the sole discretion of the Committee, need not be uniform among all Awards of Restricted Stock, and may reflect distinctions
                based on the reasons for termination of employment or service.

            

    

    9. Restricted Stock Units.

    
      	
              (a)

            	
              Grant of Restricted Stock
                    Units.  Subject to the terms and provisions of the Plan, Restricted Stock Units may be granted to Participants in such amounts and upon such terms, and at any time and from time to time, as shall be determined by the
                Committee.

            

    

    
      	
              (b)

            	
              Award Agreement. 
                Each grant of Restricted Stock Units shall be evidenced by an Award Agreement that shall specify the applicable Period of Restriction, the number of Restricted Stock Units granted, and such other provisions as the Committee shall determine.

            

    

    
      	
              (c)

            	
              Value of Restricted Stock
                    Units.  The initial value of a Restricted Stock Unit shall equal the Fair Market Value of a Share on the date of grant; provided,
                  however, that this restriction shall not apply to Awards that are adjusted pursuant to Section 16.

            

    

    
      	
              (d)

            	
              Period of Restriction. 
                Except upon a termination of employment or, pursuant to Section 17, in the event of a Participant’s Qualifying Termination during the two year period following the occurrence of a Change in Control or Subsidiary Disposition, an Award of
                Restricted Stock Units shall have a minimum Period of Restriction of three years, which period may, at the discretion of the Committee, lapse on a pro-rated, graded, or cliff basis.  However, in no event will the vesting of an Award of
                Restricted Stock Units occur within one year of the date of grant, except that the Committee will be entitled to make grants of any kind of Award under the Plan without regard to the minimum vesting condition in an aggregate amount not to
                exceed 5% of the maximum number of Shares authorized for issuance under the Plan.

            

    

    
      	
              (e)

            	
              Form and Timing of Payment. 
                Except as otherwise provided in Section 17 or a Participant’s Award Agreement, payment of Restricted Stock Units shall be made at a specified settlement date that shall not be earlier than the last day of the Period of Restriction.  The
                Committee, in its sole discretion, may pay earned Restricted Stock Units by delivery of Shares or by payment in cash of an amount equal to the Fair Market Value of such Shares (or a combination thereof).  The Committee may provide that
                settlement of Restricted Stock Units shall be deferred, on a mandatory basis or at the election of the Participant.

            

    

    
      	
              (f)

            	
              Voting Rights. 
                A Participant shall have no voting rights with respect to any Restricted Stock Units granted hereunder.

            

    

    
      	
              (g)

            	
              Termination of Employment
                    or Service.  Each Award Agreement shall set forth the extent to which the Participant shall have the right to receive a payout respecting an Award of Restricted Stock Units following termination of the Participant’s
                employment or, if the Participant is a Director or Consultant, service with the Company and its Subsidiaries.  Such provisions shall be determined in the sole discretion of the Committee, need not be uniform among all Restricted Stock
                Units, and may reflect distinctions based on the reasons for termination of employment or service.

            

    

    
      	
              (h)

            	
              Dividend Equivalents. 
                At the discretion of the Committee, Restricted Stock Units granted pursuant to the Plan may provide Participants with the right to receive Dividend Equivalents, which shall be credited to an account for the Participants, and may be settled
                in cash and/or Shares, as determined by the Committee in its sole discretion, subject in each case to the same restrictions on transferability and forfeitability as the underlying Restricted Stock Units.  Any such Dividend Equivalents shall
                be settled if and when the underlying Restricted Stock Units are settled.

            

    

    10. Performance Shares and Performance Share Units.

    
      	
              (a)

            	
              Grant of Performance Shares
                    and Performance Share Units.  Subject to the terms and provisions of the Plan, Performance Shares or Performance Share Units may be granted to Participants in such amounts and upon such terms, and at any time and from time to
                time, as shall be determined by the Committee.

            

    

    
      	
              (b)

            	
              Award Agreement. 
                Each grant of Performance Shares or Performance Share Units shall be evidenced by an Award Agreement that shall specify the applicable Performance Period and Performance Measure(s), the number of Performance Shares or Performance Share
                Units granted, and such other provisions as the Committee shall determine.

            

    

    
      	
              (c)

            	
              Value of Performance Shares
                    and Performance Share Units.  The initial value of a Performance Share or a Performance Share Unit shall equal the Fair Market Value of a Share on the date of grant; provided, however, that this restriction shall not apply to Awards that are adjusted
                pursuant to Section 16.

            

    

    
      	
              (d)

            	
              Period of Restriction. 
                Except upon a termination of employment or, pursuant to Section 17, in the event of a Participant’s Qualifying Termination during the two year period following the occurrence of a Change in Control or Subsidiary Disposition, an Award of
                Performance Shares or Performance Share Units shall have a minimum Period of Restriction of three years, which period may, at the discretion of the Committee, lapse on a pro-rated, graded, or cliff basis.  However, in no event will the
                vesting of an Award of Performance Shares or Performance Share Units occur within one year of the date of grant, except that the Committee will be entitled to make grants of any kind of Award under the Plan without regard to the minimum
                vesting condition in an aggregate amount not to exceed 5% of the maximum number of Shares authorized for issuance under the Plan.

            

    

    
      	
              (e)

            	
              Form and Timing of Payment. 
                Except as otherwise provided in Section 17 or a Participant’s Award Agreement, payment of Performance Shares or Performance Share Units shall be made at a specified settlement date that shall not be earlier than the last day of the
                Performance Period.  The Committee, in its sole discretion, may pay earned Performance Shares or Performance Share Units by delivery of Shares or by payment in cash of an amount equal to the Fair Market Value of such Shares (or a
                combination thereof).  The Committee may provide that settlement of Performance Shares or Performance Share Units shall be deferred, on a mandatory basis or at the election of the Participant.

            

    

    
      	
              (f)

            	
              Voting Rights. 
                A Participant shall have no voting rights with respect to any Performance Shares or Performance Share Units granted hereunder.

            

    

    
      	
              (g)

            	
              Termination of Employment
                    or Service.  Each Award Agreement shall set forth the extent to which the Participant shall have the right to receive a payout respecting an Award of Performance Shares or Performance Share Units following termination of the
                Participant’s employment or, if the Participant is a Consultant, service with the Company and its Subsidiaries.  Such provisions shall be determined in the sole discretion of the Committee, need not be uniform among all Participants, and
                may reflect distinctions based on the reasons for termination of employment or service.

            

    

    
      	
              (h)

            	
              Dividends and Dividend
                    Equivalents.  Performance Shares and Performance Share Units granted pursuant to the Plan shall not provide Participants with the right to receive Dividends or Dividend Equivalents.

            

    

    11. Other Stock-Based Awards.

    
      	
              (a)

            	
              Grant.  The
                Committee shall have the right to grant other Awards that may include, without limitation, the grant of Shares based on attainment of performance goals established by the Committee, the payment of Shares as a bonus or in lieu of cash based
                on attainment of performance goals established by the Committee, and the payment of Shares in lieu of cash under other Company incentive or bonus programs.

            

    

    
      	
              (b)

            	
              Period of Restriction. 
                Except upon a termination of employment or, pursuant to Section 17, in the event of a Participant’s Qualifying Termination during the two year period following the occurrence of a Change in Control or Subsidiary Disposition, Awards granted
                pursuant to this Section 11 shall have a minimum Period of Restriction of three years, which period may, at the discretion of the Committee, lapse on a pro-rated, graded, or cliff basis (as specified in an Award Agreement).  However, in no
                event will the vesting of an Award granted pursuant to this Section 11 occur within one year of the date of grant, except that the Committee will be entitled to make grants of any kind of Award under the Plan without regard to the minimum
                vesting condition in an aggregate amount not to exceed 5% of the maximum number of Shares authorized for issuance under the Plan.  Notwithstanding the above, the payment of Shares in lieu of cash under other Company incentive or bonus
                programs shall not be subject to the minimum Period of Restriction limitations described above.

            

    

    
      	
              (c)

            	
              Payment of Other
                    Stock-Based Awards.  Subject to Section 11(b) hereof, payment under or settlement of any such Other Stock-Based Awards shall be made in such manner and at such times as the Committee may determine.  The Committee may provide
                that settlement of Other Stock-Based Awards shall be deferred, on a mandatory basis or at the election of the Participant.

            

    

    
      	
              (d)

            	
              Termination of Employment
                    or Service.  The Committee shall determine the extent to which the Participant shall have the right to receive Other
                Stock-Based Awards following termination of the Participant’s employment or, if the Participant is a Director or Consultant, service with the Company and its Subsidiaries.  Such provisions shall be determined in the sole discretion of the
                Committee, such provisions may be included in an agreement entered into with each Participant, but need not be uniform among all Other Stock-Based Awards, and may reflect distinctions based on the reasons for termination of employment or
                service.

            

    

    
      	
              (e)

            	
              Dividends and Dividend
                    Equivalents.  At the discretion of the Committee, Other Stock-Based Awards granted pursuant to the Plan may provide
                Participants with the right to receive Dividends or Dividend Equivalents, which shall be credited to an account for the Participants, and may be settled in cash and/or Shares, as determined by the Committee in its sole discretion, subject
                in each case to the same restrictions on transferability and forfeitability as the underlying Other Stock-Based Awards.  Any such Dividends or Dividend Equivalents shall be paid if and when the underlying Other Stock-Based Awards vest and
                are settled.

            

    

    12. Performance Measures.

    
      	
              (a)

            	
              The Committee may specify that the attainment of one or more of the Performance Measures set forth in this
                Section 12 shall determine the degree of granting, vesting and/or payout with respect to Performance Shares, Performance Share Units or other performance-based Awards.  The performance goals to be used for such Awards shall be based on one
                or more of the following performance measures or such other performance measures as the Committee may determine (the “Performance Measures”): earnings, earnings before interest and taxes, earnings before interest, taxes, depreciation and
                amortization, earnings per share, economic value created, market share, net income (before or after taxes), operating income, adjusted net income after capital charge, return on assets, return on capital (based on earnings or cash flow),
                return on equity, return on investment, revenue, cash flow, operating margin, share price, total stockholder return, total market value, and strategic business criteria, consisting of one or more objectives based on meeting specified market
                penetration goals, productivity measures, geographic business expansion goals, cost targets, customer satisfaction or employee satisfaction goals, goals relating to merger synergies, management of employment practices and employee benefits,
                or supervision of litigation or information technology, goals relating to acquisitions or divestitures of subsidiaries, affiliates or joint ventures, and goals relating to environmental, social and governance criteria.  The targeted level
                or levels of performance with respect to such Performance Measures may be established at such levels and on such terms as the Committee may determine, in its discretion, on a corporate-wide basis or with respect to one or more business
                units, divisions, subsidiaries, business segments or functions, and in either absolute terms or relative to the performance of one or more comparable companies or an index covering multiple companies.

            

    

    
      	
              (b)

            	
              Unless otherwise determined by the Committee, measurement of performance goals with respect to the
                Performance Measures above shall exclude the impact of charges for restructurings, discontinued operations, extraordinary items, and other unusual or non-recurring items, as well as the cumulative effects of tax or accounting changes, each
                as determined in accordance with generally accepted accounting principles or identified in the Company’s financial statements, notes to the financial statements, management’s discussion and analysis or other filings with the SEC, as well as
                any other items determined in accordance with Section 18(b).

            

    

    
      	
              (c)

            	
              Performance goals may differ for Awards granted to any one Participant or to different Participants.

            

    

    13. Transferability of Awards.  Incentive Stock Options may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution, and
        shall be exercisable during a Participant’s lifetime only by such Participant.  Other Awards shall be transferable to members of the Participant’s Immediate Family to the extent provided in the Award Agreement, except that no Award may be
        transferred for consideration.

    14. Taxes.  The Company shall have the power and right, prior to the delivery of Shares pursuant to an Award, to deduct or withhold, or require a Participant to remit to the Company (or a Subsidiary), an amount (in
        cash or Shares) sufficient to satisfy any applicable tax withholding requirements applicable to an Award.  Whenever under the Plan payments are to be made in cash, such payments shall be net of an amount sufficient to satisfy any applicable tax
        withholding requirements.  Subject to such restrictions as the Committee may prescribe, in the event that an Award of Restricted Stock shall become taxable to a Participant during any Company-imposed blackout period, a Participant may satisfy all
        or a portion of any tax withholding requirements by electing to have the Company withhold Shares having a Fair Market Value equal to the amount to be withheld up to the minimum statutory tax withholding rate (or such other rate that will not result
        in a negative accounting impact).

    15. Conditions Upon Issuance of Shares.

    
      	
              (a)

            	
              Shares shall not be issued pursuant to the exercise of an Award unless the exercise of such Award and the
                issuance and delivery of such Shares pursuant thereto shall comply with all Applicable Laws, and shall be further subject to the approval of counsel for the Company with respect to such compliance.

            

    

    
      	
              (b)

            	
              As a condition to the exercise of an Award, the Company may require the person exercising such Award to
                represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a
                representation is required by any Applicable Laws.

            

    

    16. Adjustments Upon Changes in Capitalization.  In the event of any equity restructuring (within the meaning of FASB
          Accounting Standards Codification Topic 718 (f/k/a Financial Accounting Standards No. 123R)), such as a stock dividend, stock split, spinoff, rights offering, or recapitalization through a large, nonrecurring cash dividend, the Committee
        shall cause there to be an equitable adjustment in the number and kind of Shares that may be delivered under the Plan, the individual limits set forth in Section 3(b), and, with respect to outstanding Awards, in the number and kind of Shares
        subject to outstanding Awards, the Exercise Price, grant price or other price of Shares subject to outstanding Awards, any performance conditions relating to Shares, the market price of Shares, or per-Share results, and other terms and conditions
        of outstanding Awards, to prevent dilution or enlargement of rights.  In the event of any other change in corporate capitalization, such as a merger, consolidation, or liquidation, the Committee may, in its sole discretion, cause there to be such
        equitable adjustment as described in the foregoing sentence, to prevent dilution or enlargement of rights; provided, however, that, unless otherwise determined by the Committee, the number of Shares subject to any Award shall always be rounded down to a whole number.  Adjustments
        made by the Committee pursuant to this Section 16 shall be final, binding, and conclusive.

    
      
        

    

     

    

    17. Change in Control and Subsidiary Disposition.

    
      	
              (a)

            	
              Change in Control in which
                    Awards are Assumed or Continued.   Upon the occurrence of a Change in Control in which outstanding Awards are assumed or continued, the following provisions shall apply to each Award assumed or continued unless otherwise
                provided in a Participant’s Award Agreement or prohibited under Applicable Laws:

            

    

    
      	
              (i)

            	
              All outstanding Options and SARs shall become immediately exercisable in the event of a Participant’s
                Qualifying Termination during the two year period following the Change in Control.

            

    

    
      	
              (ii)

            	
              Any Period of Restriction or other restriction imposed on Restricted Stock, Restricted Stock Units, and
                Other Stock-Based Awards shall lapse in the event of a Participant’s Qualifying Termination during the two year period following the Change in Control.

            

    

    
      	
              (iii)

            	
              All incomplete Performance Periods in respect of each Award of Performance Shares, Performance Share Units
                and each other performance-based Award shall end on the date of the Change in Control and the performance goals applicable to such Award shall be deemed satisfied (A) based on the level of performance achieved as of the date of the Change
                in Control, if determinable, or (B) at the target level, if not determinable; provided, however, that, if less than 50% of the relevant Performance Period has elapsed as of the date of the Change in Control, then the performance goals applicable to such Award shall
                be deemed satisfied at the target level.  Each such Performance Share, Performance Share Units and other performance-based Award shall thereafter become a time-based Award and shall vest and become payable to the Participant on the earlier
                to occur of (x) the Participant’s Qualifying Termination during the two year period following the occurrence of the Change in Control and (y) the date such Award otherwise vests in accordance with the Participant’s Award Agreement.

            

    

    
      	
              (b)

            	
              Change in Control in which
                    Awards are not Assumed or Continued.  Upon the occurrence of a Change in Control in which outstanding Awards are not assumed or continued, the following provisions shall apply to each Award not assumed or continued:

            

    

    
      	
              (i)

            	
              All outstanding Options and SARs shall be terminated and each Participant shall receive, with respect to
                each Share subject to the Options or SARs held by the Participant, an amount in cash equal to the excess of the Fair Market Value of a Share immediately prior to the occurrence of the Change in Control over the Option Exercise Price or the
                SAR grant price; provided, however, that Options and SARs outstanding as of the date of the Change in Control shall be cancelled and
                terminated without payment therefore if the Fair Market Value of a Share as of the date of the Change in Control is less than the Option Exercise Price or the SAR grant price.

            

    

    
      	
              (ii)

            	
              All outstanding Shares of Restricted Stock, Restricted Stock Units and Other Stock-Based Awards shall be
                terminated and each Participant shall receive, with respect to each Share subject to an Award held by the Participant, an amount in cash equal to the Fair Market Value of a Share immediately prior to the occurrence of the Change in Control.

            

    

    
      	
              (iii)

            	
              All outstanding Performance Shares, Performance Share Units and other performance-based Awards shall be
                terminated and each Participant shall receive, with respect to each Share subject to an Award held by the participant an amount in cash equal to the Fair Market Value of a Share immediately prior to the occurrence of the Change in Control. 
                Each such Performance Share, Performance Share Unit and other performance-based Award shall vest on a pro rata monthly basis, including full credit for partial months elapsed, and shall be paid (A) based on the level of performance achieved
                as of the date of the Change in Control, if determinable, or (B) at the target level, if not determinable; provided, however, that, if less than 50% of the relevant Performance Period has elapsed as of the date of the Change in Control, then the performance
                goals applicable to such Award shall be deemed satisfied at the target level.

            

    

    
      	
              (c)

            	
              Subsidiary Disposition. 
                The Committee shall have the authority, exercisable either in advance of any actual or anticipated Subsidiary Disposition or at the time of an actual Subsidiary Disposition and either at the time of the grant of an Award or at any time
                while an Award remains outstanding, to provide for the automatic full vesting and exercisability of one or more outstanding unvested Awards under the Plan and the termination of restrictions on transfer and repurchase or forfeiture rights
                on such Awards, in connection with a Subsidiary Disposition, but only with respect to those Participants who are at the time engaged primarily in Continuous Service with the Subsidiary involved in such Subsidiary Disposition.  The Committee
                also shall have the authority to condition any such Award vesting and exercisability or release from such limitations upon the subsequent termination of the affected Participant’s Continuous Service with that Subsidiary within a specified
                period following the effective date of the Subsidiary Disposition.  The Committee may provide that any Awards so vested or released from such limitations in connection with a Subsidiary Disposition, shall remain fully exercisable until the
                expiration or sooner termination of the Award.

            

    

    18. Amendment, Suspension or Termination of the Plan.

    
      	
              (a)

            	
              Amendment, Modification and
                    Termination.  The Board may at any time and from time to time, alter, amend, suspend or terminate the Plan in whole or in part; provided,
                however, that no amendment that requires stockholder approval in order for the Plan to continue to comply with the New York Stock
                Exchange listing standards or any rule promulgated by the SEC or any securities exchange on which Shares are listed or any other Applicable Laws shall be effective unless such amendment shall be approved by the requisite vote of
                stockholders of the Company entitled to vote thereon within the time period required under such applicable listing standard or rule.

            

    

    
      	
              (b)

            	
              Adjustment of Awards Upon
                    the Occurrence of Certain Unusual or Nonrecurring Events.  The Committee may make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including,
                without limitation, the events described in Section 16) affecting the Company or the financial statements of the Company or of changes in Applicable Laws, regulations, or accounting principles, whenever the Committee determines that such
                adjustments are appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan.

            

    

    
      	
              (c)

            	
              Awards Previously Granted. 
                No termination, amendment or modification of the Plan or of any Award shall adversely affect in any material way any Award previously granted under the Plan without the written consent of the Participant holding such Award, unless such
                termination, modification or amendment is required by Applicable Laws and except as otherwise provided herein.

            

    

    
      	
              (d)

            	
              No Repricing. 
                Without the affirmative vote of holders of a majority of the Shares cast in person or by proxy at a meeting of the stockholders of the Company at which a quorum representing a majority of all outstanding Shares is present or represented by
                proxy, the Board shall not approve either: (i) the cancellation of outstanding Options or SARs and the grant in substitution therefore of new awards (including Options and SARs) having a lower exercise price; (ii) the amendment of
                outstanding Options or SARs to reduce the exercise price thereof; or (iii) the cancellation of outstanding Options or SARs and the payment of cash in substitution therefore.

            

    

    19. Clawback/Recoupment.  Any Award granted pursuant to the Plan shall be subject to mandatory repayment to the Company by the Participant who holds such Award (i) to the extent set forth in the Plan or an Award
        Agreement or (ii) to the extent the Participant is, or in the future becomes, subject to (A) any Company “clawback” or recoupment policy or (B) any law, rule, requirement or regulation which imposes mandatory recoupment, under circumstances set
        forth in such law, rule, requirement or regulation.

    20. Reservation of Shares.

    
      	
              (a)

            	
              The Company, during the term of the Plan, will at all times reserve and keep available such number of
                Shares as shall be sufficient to satisfy the requirements of the Plan.

            

    

    
      	
              (b)

            	
              The inability of the Company to obtain authority from any regulatory body having jurisdiction, which
                authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such
                requisite authority shall not have been obtained.

            

    

    21. Rights of Participants.

    
      	
              (a)

            	
              Continued Service. 
                The Plan shall not confer upon any Participant any right with respect to continuation of employment or consulting relationship with the Company, nor shall it interfere in any way with his or her right or the Company’s right to terminate his
                or her employment or consulting relationship at any time, with or without cause.

            

    

    
      	
              (b)

            	
              Participant.  No
                Employee, Director or Consultant shall have the right to be selected to receive an Award under the Plan, or, having been so selected, to be selected to receive future Awards.

            

    

    22. Successors.  All obligations of the Company under the Plan and with respect to Awards shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or
        indirect purchase, merger, consolidation, or other event, or a sale or disposition of all or substantially all of the business and/or assets of the Company and references to the “Company” herein and in any Award Agreements shall be deemed to refer
        to such successors.

    23. Legal Construction.

    
      	
              (a)

            	
              Gender, Number and
                    References.  Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine, the plural shall include the singular and the singular shall include the plural.  Any reference in
                the Plan to a Section of the Plan either in the Plan or any Award Agreement or to an act or code or to any section thereof or rule or regulation thereunder shall be deemed to refer to such Section of the Plan, act, code, section, rule or
                regulation, as may be amended from time to time, or to any successor Section of the Plan, act, code, section, rule or regulation.

            

    

    
      	
              (b)

            	
              Severability. 
                In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid
                provision had not been included.

            

    

    
      	
              (c)

            	
              Requirements of Law. 
                The granting of Awards and the issuance of Shares or cash under the Plan shall be subject to all Applicable Laws and to such approvals by any governmental agencies or national securities exchanges as may be required.

            

    

    
      	
              (d)

            	
              Governing Law. 
                To the extent not preempted by federal law, the Plan, and all agreements hereunder, shall be construed in accordance with and governed by the laws of the State of New York, excluding any conflicts or choice of law rule or principle that
                might otherwise refer construction or interpretation of the Plan to the substantive law of another jurisdiction.

            

    

    
      	
              (e)

            	
              Non-Exclusive Plan. 
                Neither the adoption of the Plan by the Board nor its submission to the stockholders of the Company for approval shall be construed as creating any limitations on the power of the Board or a committee thereof to adopt such other incentive
                arrangements as it may deem desirable.

            

    

    
      	
              (f)

            	
              Code Section 409A
                    Compliance.  To the extent applicable, it is intended that the Plan and any Awards granted hereunder comply with, and should be interpreted consistent with, the requirements of Section 409A of the Code and any related
                regulations or other guidance promulgated thereunder by the U.S. Department of the Treasury or the Internal Revenue Service (“Section 409A”).

            

    

    

    

    
      
        

    

    GLOSSARY OF DEFINED TERMS

    1. Definitions.  As used in the Plan and any Award Agreement, the following definitions shall apply:

    “Applicable Laws” means
      the legal requirements relating to the administration of stock incentive plans, if any, under applicable provisions of federal law, applicable state law, and the rules and regulations of any applicable stock exchange or national market system.

    “Award” means,
      individually or collectively, Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares, Performance Share Units and Other Stock-Based Awards granted under the Plan.

    “Award Agreement” means an
      agreement (in written or electronic form) entered into by the Company and a Participant setting forth the terms and provisions applicable to an Award.

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

    “Cause” means, with
      respect to any Participant (i) gross negligence or willful misconduct, as the case may be, in the performance of the material responsibilities of the Participant’s office or position; (ii) the willful and continued failure of the Participant to
      perform substantially the Participant’s duties with the Company or any Subsidiary (other than any such failure resulting from incapacity due to physical or mental illness); (iii) the Participant is convicted of, or pleads guilty or nolo contendere
      to, a felony within the meaning of U.S. Federal, state or local law (other than a traffic violation); (iv) the Participant having willfully divulged, furnished or made accessible to anyone other than the Company or any Subsidiary, or any of their
      respective directors, officers, employees, auditors and legal advisors, otherwise than in the ordinary course of business, any confidential or proprietary information of the Company or such Subsidiary; or (v) any act or failure to act by the
      Participant, which, under the provisions of applicable law, disqualifies the Participant from performing his or her duties or serving in his or her then current capacity with the Company or a Subsidiary; provided, however, that with respect to a Participant who has an employment agreement with the Company or any of its Subsidiaries which has a definition of “cause”, the definition
      contained therein shall govern.

    “Change in Control” means
      the first to occur of the following events:

    
      	
              1.

            	
              Any Person becomes a “beneficial owner,” as such term is used in Rule 13d-3 of the Exchange Act, of 25% or more of the
                combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company
                    Voting Securities”); provided, however, that, for purposes of this definition, the following acquisitions shall not
                constitute a Change in Control: (I) any acquisition directly from the Company, other than an acquisition by virtue of the exercise of a conversion privilege unless the security being so converted was itself acquired directly from the
                Company, (II) any acquisition by the Company, (III) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any of its affiliates, or (IV) any acquisition pursuant to a transaction which
                complies with clauses (A), (B) and (C) of paragraph 3 of this definition; or

            

    

    
      	
              2.

            	
              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, however, that any individual becoming a director subsequent to when the Plan is first approved
                by the Board whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a
                member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A
                promulgated under the Exchange Act) with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or

            

    

    
      	
              3.

            	
              Consummation of a reorganization, merger, consolidation or a sale or other disposition of all or substantially all of the
                assets of the Company (each, a “Business Combination”), in each case unless, following such Business Combination, (A) all or substantially all of the
                individuals and entities that were the beneficial owners of the outstanding Shares (the “Outstanding Company Common Stock”) and the Outstanding
                Company Voting Securities, immediately prior to such Business Combination, beneficially own, directly or indirectly, more than 50% of the then-outstanding shares of common stock and more than 50% of 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 transaction, 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 the Outstanding Company Voting Securities, as the case may be, (B) no Person (other than the Company, any employee benefit plan (or related trust) of the Company or such corporation
                resulting from such Business Combination) beneficially owns directly or indirectly, 20% or more of, respectively, the outstanding shares of common stock of the corporation resulting from such Business Combination or the outstanding voting
                securities of such corporation entitled to vote generally in the election of directors, except to the extent that such ownership existed prior to the Business Combination, and (C) 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 at the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination, whichever occurs
                first; or

            

    

    
      	
              4.

            	
              The approval by the stockholders of the Company of a complete liquidation or dissolution of the Company.

            

    

    Notwithstanding the foregoing, with respect to Awards (or portions of Awards) that are considered deferred
      compensation under Section 409A, if an event or condition constituting a Change in Control does not constitute a “change in the ownership” or a “change in the effective control” of the Company or a “change in the ownership of a substantial portion of
      a corporation’s assets” (each within the meaning of Section 409A), the event or condition shall continue to constitute a Change in Control solely with respect to vesting of the Award (or portion thereof) or a lapse of any applicable restrictions
      thereto and not for purposes of determining whether the settlement or payment of the Award (or portion thereof) will be accelerated under this Plan.  For avoidance of doubt, the prior sentence shall not apply to Awards (or portions thereof) that
      qualify as short-term deferrals for purposes of Section 409A.

    “Code” means the Internal
      Revenue Code of 1986, as amended.

    “Committee” means the
      Committee, as specified in Section 2(a), appointed by the Board to administer the Plan.

    “Company” means PVH Corp.,
      a Delaware corporation, and any successor thereto.

    “Consultant” means any
      consultant or advisor to the Company or a Subsidiary.

    “Continuous Service” means
      that the provision of services to the Company or any Subsidiary in any capacity by an Employee is not interrupted or terminated.  Continuous Service shall not be considered interrupted in the case of (i) any leave of absence approved by the Company
      or (ii) transfers between locations of the Company or between the Company, any Subsidiary, or any successor.  A leave of absence approved by the Company shall include sick leave, military leave, or any other personal leave approved by an authorized
      representative of the Company.  For purposes of Incentive Stock Options, no such leave may exceed 90 days, unless reemployment upon expiration of such leave is guaranteed by statute or contract.

    “Defined Event” means the
      death, disability, Retirement or Qualifying Termination of a Participant.

    “Director” means any
      individual who is a member of the Board of Directors of the Company or a Subsidiary who is not an Employee and is not designated or elected to serve as a director by the holders of any securities of the Company, other than Shares, voting separately
      as a class.

    “Dividend” means the
      dividends and other distributions declared and paid on Shares subject to an Award.

    “Dividend Equivalent”
      means, with respect to Shares subject to an Award, a right to be paid an amount equal to the Dividends declared and paid on an equal number of outstanding Shares.

    “Employee” means any
      employee of the Company or a Subsidiary.

    “Exchange Act” means the
      Securities Exchange Act of 1934, as amended.

    “Exercise Price” means the
      price at which a Share may be purchased by a Participant pursuant to an Option.

    “Fair Market Value” means,
      as of any date, the value of a Share equal to (i) the closing sale price of a Share on the New York Stock Exchange on the date of determination or (ii) if there is no sale of Shares on that date, the closing sale price of a Share on the last trading
      date on which sales were reported on the New York Stock Exchange.

    “Immediate Family” means a
      Participant’s children, stepchildren, grandchildren, parents, stepparents, grandparents, spouse, former spouse, siblings, nieces, nephews, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive
      relationships or any person sharing the Participant’s household (other than a tenant or employee).

    “Incentive Stock Option”
      or “ISO” means an Option intended to qualify as an incentive stock option within the meaning of Section 422 of the Code.

    “Nonqualified Stock Option”
      means an Option that is not intended to meet the requirement of Section 422 of the Code.

    “Option” means an
      Incentive Stock Option or a Nonqualified Stock Option granted under the Plan, as described in Section 6.

    “Other Stock-Based Award”
      means a Share-based or Share-related Award granted pursuant to Section 11 herein.

    “Participant” means a
      current or former Employee, Director or Consultant who has rights relating to an outstanding Award.

    “Performance Measures”
      shall have the meaning set forth in Section 12(a).

    “Performance Period” means
      the period during which a performance measure must be met.

    “Performance Share” means
      an Award granted to a Participant, as described in Section 10 herein.

    “Performance Share Unit”
      means an Award granted to a Participant, as described in Section 10 herein.

    “Period of Restriction”
      means the period Restricted Stock, Restricted Stock Units or Other Stock-Based Awards are subject to a substantial risk of forfeiture and are not transferable, as provided in Sections 8, 9 and 11 herein.

    “Person” means person as
      such term is used in Section 3(a)(9) and 13(d) of the Exchange Act.

    “Plan” means the PVH Corp.
      Stock Incentive Plan.

    “Proceeds” means, with
      respect to any sale or other disposition (including to the Company) of Shares acquired pursuant to an Award, an amount determined by the Committee, (a) in the case of an Award other than an Option, SAR or cash-settled Award, up to the amount equal to
      the Fair Market Value per Share at the time of such sale or other disposition multiplied by the number of Shares sold or disposed of, or (b) in the case of an Option or SAR, up to the amount equal to the number of Shares sold or disposed of
      multiplied by the excess of the Fair Market Value per Share at the time of such sale or disposition over the Exercise Price or grant price, as applicable.

    “Qualifying Termination”
      means the termination of a Participant’s employment or service with the Company or any of its Subsidiaries by the Company or a Company Subsidiary without Cause or, with respect to a Participant who has an employment agreement with the Company or any
      of its Subsidiaries which has a definition of “good reason,” by the Participant for good reason (as defined in the Participant’s employment agreement).

    “Restricted Stock” means
      an Award granted to a Participant, as described in Section 8.

    “Restricted Stock Units”
      means an Award granted to a Participant, as described in Section 9.

    “Retirement” means:

    
      	
              1.

            	
              With respect to all Awards made prior to March 19, 2007 and all Awards made to Employees prior to May 3, 2007, a
                Participant’s termination of employment by the Company and its Subsidiaries at or after age 63 other than for Cause.

            

    

    
      	
              2.

            	
              With respect to all Awards made to Directors on or after March 19, 2007, the termination of a Director’s service, other than
                by reason of death or removal for cause (under applicable law), after at least four years of service.

            

    

    
      	
              3.

            	
              With respect to all Awards made to Employees on or after May 3, 2007, the termination of an Employee’s employment from the
                Company and its Subsidiaries, other than by reason of death or for Cause, at or after age 62, provided that the Employee has at least
                five years of employment with the Company and/or any of its Subsidiaries.

            

    

    “SEC” means the United
      States Securities and Exchange Commission.

    “Section 409A” shall have
      the meaning set forth in Section 22(f).

    “Share” means a share of
      the common stock, $1.00 par value, of the Company, subject to adjustment pursuant to Section 16.

    “Stock Appreciation Right”
      or “SAR” means an Award granted to a Participant, either alone or in connection with a related Option, as described in Section 7.

    “Subsidiary” has the
      meaning ascribed to such term in Code Section 424(f).

    “Subsidiary Disposition”
      means the disposition by the Company of its equity holdings in any Subsidiary effected by a merger or consolidation involving that Subsidiary, the sale of all or substantially all of the assets of that Subsidiary or the Company’s sale or distribution
      of substantially all of the outstanding capital stock of such Subsidiary.

    “Voting Securities” means
      voting securities of the Company entitled to vote generally in the election of Directors.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00310-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00310-of-00352.parquet"}]]