Company Letterhead]Avon Products Inc • February 29th, 2012 • Perfumes, cosmetics & other toilet preparations
We are pleased to offer you the position of Senior Vice President and President, Latin America for Avon Products, Inc. (“Avon”) reporting to Charles Herington, Executive Vice President, Developing Markets Group. This agreement supersedes all prior agreements, written or oral, regarding your employment with Avon.
Company Letterhead]Avon Products Inc • February 29th, 2012 • Perfumes, cosmetics & other toilet preparations
RESTRICTED STOCK UNIT AWARD AGREEMENTRestricted Stock Unit Award Agreement • February 29th, 2012 • Avon Products Inc • Perfumes, cosmetics & other toilet preparations
(a)Subject to Section 5, vesting of the PRSUs shall occur on the date set forth in the Grantee's grant notification (such date the “Vesting Date”), which is the end of the relevant performance period, and settlement shall occur on the date set forth in the Grantee's grant notification (such date the “Settlement Date”), which is the “annual grant” settlement date, as specified by the Company. Subject to Section 5, vesting and settlement are contingent upon: (i) the Grantee being employed by the Company or any of its Subsidiaries on the Vesting Date; and (ii) satisfaction by the Company of performance measures set forth in the grant notification (the “Performance Measures”).
