PHILLIPS-VAN HEUSEN CORPORATION
PERFORMANCE INCENTIVE BONUS PLAN
(As Amended Through May 1, 2008)
1. Purpose . The purposes of the Plan are to induce certain senior executive employees of the Company and its
Subsidiaries to remain in the employ of the Company and its Subsidiaries, to attract new individuals to enter
into such employ and to provide such persons with additional incentive to promote the success of the
business of the Company and its Subsidiaries.
2. Definitions .
(a) Defined Terms . The following words as used in the Plan shall have the meanings ascribed to
“ 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 def