0000008868-19-000039 Sample Contracts

AVON PRODUCTS, INC. RESTRICTED STOCK UNIT AWARD AGREEMENT
Restricted Stock Unit Award Agreement • August 1st, 2019 • Avon Products Inc • Perfumes, cosmetics & other toilet preparations • New York
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STOCK OPTION AGREEMENT
Stock Option Agreement • August 1st, 2019 • Avon Products Inc • Perfumes, cosmetics & other toilet preparations • New York
AVON PRODUCTS, INC. PERFORMANCE CONTINGENT RESTRICTED STOCK UNIT AWARD AGREEMENT
Restricted Stock Unit Award Agreement • August 1st, 2019 • Avon Products Inc • Perfumes, cosmetics & other toilet preparations • New York

In accordance with your contract of employment, dated as of December 11, 2018, with Avon Cosmetics Limited (the “Employment Contract”), Avon Products, Inc. (the “Company”) has granted to you, effective May 1, 2019 (the “Grant Date”), Performance Contingent Restricted Stock Units (the “PRSUs”), representing the right to receive, in the future, shares of Stock (the “Shares”) as set forth in your grant notification. The PRSUs are subject to the terms and conditions set forth in this Performance Restricted Stock Unit Award Agreement (this “Agreement”) and your grant notification. Please indicate your acceptance of this award by signing this Agreement and returning your signature to the Company’s Vice President, Global Compensation & Benefits.

AVON PRODUCTS, INC. SERVICE-BASED RESTRICTED STOCK UNIT AWARD AGREEMENT
Restricted Stock Unit Award Agreement • August 1st, 2019 • Avon Products Inc • Perfumes, cosmetics & other toilet preparations • New York

In accordance with your contract of employment, dated as of December 11, 2018, with Avon Cosmetics Limited (the “Employment Contract”), Avon Products, Inc. (the “Company”) has granted to you, effective May 1, 2019 (the “Grant Date”) Restricted Stock Units (the “RSUs”), representing the right to receive, in the future, shares of Stock (the “Shares”) as set forth in your grant notification. The RSUs are subject to the terms and conditions set forth in this Service-Based Restricted Stock Unit Award Agreement (this “Agreement”) and your grant notification. Please indicate your acceptance of this award by signing this Agreement and returning your signature to the Company’s Vice President, Global Compensation & Benefits.

PERFORMANCE CONTINGENT RESTRICTED STOCK UNIT AWARD AGREEMENT
Restricted Stock Unit Award Agreement • August 1st, 2019 • Avon Products Inc • Perfumes, cosmetics & other toilet preparations • New York
STOCK OPTION AGREEMENT
Stock Option Agreement • August 1st, 2019 • Avon Products Inc • Perfumes, cosmetics & other toilet preparations • New York

In accordance with your contract of employment, dated as of December 11, 2018, with Avon Cosmetics Limited (the “Employment Contract”), Avon Products, Inc. (the “Company”) has granted to you, effective May 1, 2019 (the “Grant Date”), the right and option to purchase from the Company shares of Stock (“Shares”) at an exercise price per Share (the “Exercise Price”) as set forth in your grant notification (the “Option”). The Option is subject to the terms and conditions set forth in this Stock Option Agreement (this “Agreement”) and your grant notification. Please indicate your acceptance of this award by signing this Agreement and returning your signature to Company’s Vice President, Global Compensation & Benefits.

AVON PRODUCTS, INC. STOCK APPRECIATION RIGHTS AGREEMENT
Stock Appreciation Rights Agreement • August 1st, 2019 • Avon Products Inc • Perfumes, cosmetics & other toilet preparations • New York
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