Document:

EX-10.16

 Confidential Treatment Requested by Kontoor Brands, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 Exhibit 10.16 

KONTOOR BRANDS, INC. MANAGEMENT INCENTIVE COMPENSATION PLAN 

                    , 2019

 I. INTRODUCTION 
 The objective of the
Management Incentive Compensation Plan (as amended from time to time, the “Plan”) is to provide incentive bonus compensation to selected members of the management team of Kontoor Brands, Inc. (the “Company”) upon the achievement
of performance goals established for the Company or respective business unit for each fiscal year. The Plan is intended to provide an additional means to attract and retain talented executives, and to link a significant element of each
participant’s compensation opportunity to measures of the Company’s or respective business unit’s performance, in order to motivate the Company’s management team toward an even greater contribution to the results of the Company.

 II. DEFINITIONS 
 A. COMPENSATION COMMITTEE
— The Talent and Compensation Committee of the Board of Directors of the Company, the composition and processes of which are governed by the Compensation Committee’s Charter. 

B. PARTICIPANT — An employee of the Company or a business unit who has been designated as a member of the management team of the Company
and selected for participation in a given Plan Period by the Company. 
 C. PERFORMANCE OBJECTIVE — The performance objective or
objectives established by the Compensation Committee for each Plan Period, which must be reached as a condition to the earning and payment of an Incentive Award for that Plan Period. The Performance Objective shall be comprised of specified
corporate, business group or divisional levels of performance relating to one or more of the following performance criteria: earnings per share; net earnings or net income; pretax earnings; profit before taxes; operating income; net sales or net
revenues; net sales or net revenues from existing businesses; net sales or net revenues from acquired businesses, market share; balance sheet measurements; cash flow; cash return on assets; return on capital; book value; shareholder return, or
return on average common equity; or such other measurements as the Compensation Committee may establish, including individual performance goals. 

D. PLAN PERIOD — The Company’s fiscal year, provided, however, that the Compensation Committee may specify a different Plan Period
to meet unusual circumstances. 
 E. RETIREMENT — Employment separation from the Company or any of its business units after attaining
age 55 and at least 10 years of service with the Company and/or any of its business units. 
 F. BUSINESS UNIT — Any majority-owned
business organization of the Company or its direct or indirect subsidiaries, including but not limited to corporations, limited liability companies, partnerships, and any “subsidiary corporation” as defined in Section 424(f) of the
Internal Revenue Code (the “Code”) that is a subsidiary of the Company. 
 G. TARGET INCENTIVE AWARD — The target incentive
bonus established by the Company for a Participant for a Plan Period. 

  

					
		 	1	 	

  

 Confidential Treatment Requested by Kontoor Brands, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 III. OPERATION OF THE PLAN 

A. ESTABLISHMENT OF TARGET INCENTIVE AWARDS AND PERFORMANCE OBJECTIVES — The Company will establish in writing a Target Incentive Award
for each Participant for the Plan Period. The Compensation Committee will establish the Performance Objectives and a range of values for the Performance Objectives for the Plan Period, with each such value corresponding to a percentage of the Target
Incentive Award that may be earned for achievement of the Performance Objectives (the “Incentive Awards”). For example, the Compensation Committee may establish a threshold level of achievement of each Performance Objective which, if not
attained, will result in no Incentive Award, and the Committee may likewise establish a “stretch” level of achievement of each Performance Objective which, if attained, will result in an Incentive Award greater than 100% of the Target
Incentive Award. In establishing the level of Performance Objectives to be attained and in determining the actual level of achievement of each Performance Objective, the Compensation Committee may disregard or offset the effect of such factors as
extraordinary and/or nonrecurring items, changes in accounting standards or tax laws, differences between actual foreign currency exchange rates during a Plan Period and the foreign currency exchange rates assumed in the Company’s financial
plan for the Plan Period as presented to the Board of Directors and the Compensation Committee, the Company’s consolidation entries directly impacting the business units and other unusual items or circumstances approved by the Compensation
Committee and/or Board. 
 B. CALCULATION OF INCENTIVE AWARDS — Incentive Awards will be paid to each Participant by reference to the
actual attainment of the Performance Objectives, as determined in accordance with Section III.A above, relative to the Performance Objective levels established by the Compensation Committee for the Plan Period. The Company may exercise discretion to
increase or decrease, the amount of the Incentive Award paid to any Participant based on the Company’s assessment of the individual’s performance or other considerations deemed relevant by the Company, provided that, in the case of
Participant who is an executive officer, any such discretion must be exercised by the Compensation Committee. 
 C. APPROVAL OF AGGREGATE
INCENTIVE AWARDS — The aggregate amount of all Incentive Awards paid for any Plan Period shall be subject to approval of the Compensation Committee and the Board of Directors. 

D. PAYMENT OF INCENTIVE AWARDS — Payment of Incentive Awards for a Plan Period will be made within thirty days following the Compensation
Committee’s certification in writing as to the level of Performance Objective attained for the Plan Period (but not later than seventy-five days following the end of the Plan Period), except to the extent (i) the Committee has specified
that Incentive Awards will be paid on a deferred basis or subject to additional conditions to payment, or (ii) payment has been deferred by the Participant pursuant to any Company deferred compensation plan then in effect. Deferrals under such
plans shall be mandated or permitted at the election of the Participant only in compliance with Code Section 409A. The specific rules applicable to the timing of deferral elections and the permitted distribution dates for deferrals are
incorporated by reference in this Plan from the 2019 Stock Compensation Plan, as amended from time to time. 
 IV. CONTINGENCIES 

A. EMPLOYMENT TERMINATION — Except as provided in Sections IV.B, IV.C and IV.E regarding permanent disability, death and Retirement,
or unless the Company exercises its discretion under Section IV.D, a Participant who terminates employment voluntarily or who is terminated involuntarily prior to his or her receipt of an Incentive Award payment under this Plan forfeits all
such payments, except as provided under the terms of any required or permitted deferral of such payments. A Participant who is employed by the Company at the end of a Plan Period shall not be deemed or considered, solely for that reason, to have
accrued any right to or vested in an Incentive Award for the Plan Period. 
 B. PERMANENT DISABILITY — A Participant whose employment
with the Company is terminated by reason of permanent disability is eligible to earn an Incentive Award for the Plan Period in which he or she becomes permanently disabled. The Incentive Award payment will be calculated as if employment had
continued 

  

					
		 	2	 	

  

 Confidential Treatment Requested by Kontoor Brands, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 
throughout the Plan Period based on actual performance for the Plan Period (and subject to the Company’s right under Section III.B to exercise discretion); but, unless otherwise determined
by the Company, the amount of the Incentive Award payable will be prorated according to the Participant’s actual length of active service during the Plan Period. 

C. DEATH — The estate of a Participant whose employment with the Company is terminated by reason of death during a Plan Period is
eligible to earn an Incentive Award for the Plan Period in which death occurs. The Incentive Award payment will be calculated as if employment had continued throughout the Plan Period based on actual performance for the Plan Period (and subject to
the Company’s right under Section III.B to exercise discretion), but, unless otherwise determined by the Company, the amount of the Incentive Award payable will be prorated according to the Participant’s actual length of active service
during the Plan Period. 
 D. COMPANY DISCRETION — The Company may determine that a terminated employee who had been a Plan Participant
for part or all of the Plan Period will be eligible to earn an Incentive Award for the Plan Period if, in the Company’s judgment, the earning and payment of such Incentive Award would be in the best interest of the Company. Subject to the
Company’s discretion under Section III.B above, any such Incentive Award payment will be calculated as if employment had continued throughout the Plan Period based on actual performance for the Plan Period, but, unless otherwise determined
by the Company, payment of the Incentive Award will be prorated according to the Participant’s actual length of active service during the Plan Period. In the case of a Participant who is an executive officer, any determination or discretion
under this Section IV (including the other subsections of this Section IV) must be made or exercised by the Compensation Committee. 
 E.
RETIREMENT — A Participant whose Retirement occurs prior to the distribution of an Incentive Award for a Plan Period remains eligible to earn an Incentive Award for the Plan Period. At the Company’s discretion, the Incentive Award payment
may be calculated as if Retirement had not occurred based on actual performance for the relevant Plan Period (and subject to the Company’s right under Section III.B to exercise discretion), but, unless otherwise determined by the Company, with
payment prorated according to the Participant’s actual length of active service during the Plan Period. 
 F. TIMING RULE IN CASE OF
AWARDS MADE FOLLOWING TERMINATION — Incentive Awards payable to a Participant (or his or her estate) following termination of employment shall be paid at the time other Incentive Awards are payable to continuing employee Participants in respect
of the relevant Plan Period, but in any event by the            following the end of the Plan Period. If the Participant’s rights relating to an Incentive Award cause it to be a
deferral of compensation under Code Section 409A, no acceleration of the time of payment will be permitted to the extent necessary to comply with applicable rules under Code Section 409A. 

G. ADDITIONAL FORFEITURE CONDITION — Incentive Awards shall be subject to the Company’s “Forfeiture Policy For Equity and
Incentive Awards In the Event of Restatement of Financial Results” or, if later modified or replaced by a similar policy (regardless of the title of such policy), as in effect thereafter at the time the Participant’s Incentive Award was
authorized for any such Plan Period. Such Policy imposes conditions on a Participant’s right to receive payments under an Incentive Award and right to retain previous payments in settlement of an Incentive Award (a so-called “clawback”) in certain circumstances if the Company’s financial statements are required to be restated and in other specified circumstances. 

V. ADMINISTRATION 
 The Compensation Committee
shall have the authority and responsibility for all aspects of administration of the Plan, including but not limited to: 
 A.
Interpretation of the Plan. 
 B. Establishment of the Performance Objectives and related terms under Section III. A. for each Plan
Period. 

  

					
		 	3	 	

  

 Confidential Treatment Requested by Kontoor Brands, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 C. Certification in writing as to the level of each Performance Objective attained for each
Plan Period, and that other material terms upon which payment of Incentive Awards was conditioned have been satisfied. 
 D. Final approval
of aggregate payments to Participants. 
 The Compensation Committee may delegate to specified officers or employees of the Company
authority to perform ministerial functions under the Plan. In furtherance of this authority, unless otherwise limited by further action of the Compensation Committee, the Committee has delegated to the Chief Executive Officer and the Vice President
— Human Resources the authority (unless such authority is specifically reserved to the Committee hereunder) to take actions under the Plan on behalf of the Company relating to Participants who are not executive officers, including the selection
of Participants who are not executive officers and the establishment of Target Incentive Awards for each such Participant under Section III.A. 
 VI.
AMENDMENT AND TERMINATION 
 The Compensation Committee shall have the power to amend, modify, suspend or terminate any part of the Plan at
any time; provided, however, that any such change to the Plan that is beyond the authority of the Compensation Committee delegated by the Board of Directors shall be subject to the approval of the Board of Directors of the Company. 

VII. GENERAL PROVISIONS 
 A. NO RIGHT TO
EMPLOYMENT — Eligibility to receive an Incentive Award or the grant or payment of an Incentive Award shall not be construed as giving a Participant the right to be retained in the employ of the Company, nor will it affect in any way the right
of the Company to terminate such employment at any time, with or without cause. In addition, the Company may at any time dismiss a Participant from employment free from any liability or any claim under the Plan, unless otherwise expressly provided
in the Plan. 
 B. NO LIMIT ON OTHER COMPENSATION ARRANGEMENTS — Nothing contained in the Plan shall prevent the Company from adopting
or continuing in effect other or additional compensation arrangements, and such arrangements may be either generally applicable or applicable only in specific cases. 

C. TAX WITHHOLDING — The Company will deduct from any Incentive Award or other payment to a Participant any Federal, state, or local
withholding or other tax or charge which the Company is then required to deduct under applicable law. 
 D.
NON-TRANSFERABILITY— The opportunity to earn an Incentive Award, any resulting Incentive Award, and any other purported right hereunder, shall be non-assignable and
non-transferable, and shall not be subject to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, hypothecation or garnishment by a Participant’s creditors or to or in
favor of any party other than the Company or a subsidiary or subject to any lien, obligation, or liability of the Participant to any party other than the Company or a subsidiary. 

E. GOVERNING LAW — The validity, construction and effect of the Plan or any Incentive Award hereunder shall be determined in accordance
with the laws of the State of North Carolina, without giving effect to principles of conflicts of laws. 
 F. SEVERABILITY — If any
provision of the Plan or any Incentive Award is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or would disqualify the Plan or any Incentive Award under any law deemed applicable by the Compensation Committee,
such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination of the Compensation Committee, materially altering the purpose or intent of the Plan
or the Incentive Award, such provision shall be stricken as to such jurisdiction or Incentive Award, and the remainder of the Plan or any such Incentive Award shall remain in full force and effect. 

  

					
		 	4	 	

  

 Confidential Treatment Requested by Kontoor Brands, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 G. NO TRUST OR FUND CREATED — Neither the Plan nor any Incentive Award shall create or
be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company and a Participant or any other person. To the extent that any Participant or other person acquires a right to receive payments from the
Company pursuant to the Plan, such right shall be no greater than the right of any unsecured general creditor of the Company. 
 H. HEADINGS
— Headings are given to the Sections and subsections of the Plan solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any
provision thereof. 

  

					
		 	5EX-10.17

 Confidential Treatment Requested by Kontoor Brands, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 Exhibit 10.17 

KONTOOR BRANDS 
 DEFERRED
SAVINGS PLAN FOR NON-EMPLOYEE DIRECTORS 
 VF Corporation has maintained the VF Deferred Savings
Plan for Non-Employee Directors for the benefit of eligible non-employee members of the VF Corporation Board of Directors. VF Corporation has determined to separate its
Jeanswear business into one or more newly formed legal entities (the “Jeanswear Group”), and in connection therewith, VF Corporation intends to distribute to its shareholders all of the stock of a newly formed company (“Kontoor
Brands, Inc.”) that will be the parent holding company for the Jeanswear Group (the “Distribution”). In connection with the Distribution, Kontoor Brands, Inc. shall adopt this Kontoor Brands Deferred Savings Plan for Non-Employee Directors (the “Plan”) to provide benefits for the eligible non-employee members of the Kontoor Brands, Inc. Board of Directors. This Plan shall be
effective at and as of the date of consummation of the Distribution (the “Distribution Date”). In the event that the Distribution does not occur, this Plan shall be void and of no force and effect. 

The Plan permits non-employee members of the Kontoor Brands, Inc. (the “Company”) Board of
Directors to elect to defer receipt of all or any portion of the compensation payable to them for services rendered to the Company. 
 The
intention of the Company is that the Plan at all times be maintained on an unfunded basis for federal income tax purposes under the Internal Revenue Code of 1986, as amended (“Code”), exempt from the requirements of the Employee Retirement
Income Security Act of 1974, as amended (“ERISA”), and operated in accordance with the requirements of Section 409A of the Code. 

NOW, THEREFORE, the Plan is hereby adopted, effective as of the Distribution Date subject to the requirements in the first paragraph, to read
as follows: 
 SECTION I 

DEFINITIONS 
 Unless
otherwise required by the context, the terms used herein shall have the meanings as set forth below: 
 1. “Accrued
Benefit” means the sum of a Participant’s Deferrals (and any gains and losses credited thereon). 
 2.
“Beneficiary” means the individual or entity named pursuant to the Plan to receive benefit payments hereunder in the event of the death of the Participant. 

3. “Change of Control” means a change in the ownership or effective control of the Company, or in the ownership of a
substantial portion of the assets of the Company, within the meaning of Section 409A(a)(2)(A)(v) of the Code and the regulations thereunder. 

4. “Committee” means the Kontoor Brands, Inc. Retirement Plans Committee, as appointed from time to time by the Vice
President — Chief Human Resources Officer of the Company. 
 5. “Company” means Kontoor Brands, Inc., a North Carolina
corporation. 
 6. “Compensation” means the fees payable by the Company in cash to a Participant for services rendered as a
Director, including the annual base retainer and attendance fees for board and committee meetings. 
 7. “Deferral” means
that portion of a Participant’s Compensation elected to be deferred hereunder. 
 8. “Director” means a member of the
Board of Directors of the Company. 

  

 Confidential Treatment Requested by Kontoor Brands, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 9. “Participant” means a Director who is not employed by the Company or any
of its subsidiaries or affiliates. 
 10. “Plan” means the Kontoor Brands Deferred Savings Plan for Non-Employee Directors, as it may be amended and/or restated from time to time. 
 11. “Plan
Year” means the calendar year. 
 12. “Severance from Service” means the date on which a Participant ceases to be
a Director of the Company. 
 13. “Spouse” means the person to whom the Participant is legally married. 

SECTION II 
 ELIGIBILITY

 1. A Director shall be eligible to make Deferral elections under this Plan as long as he or she (a) remains a Director of the
Company and (b) is not concurrently employed by the Company or any of its subsidiaries or affiliates. 
 2. Participation in this Plan
is voluntary. 
 SECTION III 

DEFERRALS 
 1.
Election. A Participant may elect to defer up to 100% of his or her Compensation for a Plan Year by directing the Company to reduce his or her Compensation for the Plan Year by a whole percentage or amount authorized by an election
executed by the Participant and filed with and approved by the Committee. Such Deferral election shall be made on or before December 31 of the calendar year preceding the Plan Year to which the election relates. Notwithstanding the foregoing, a
new Participant may elect to defer up to 100% of the Compensation that he or she would otherwise be entitled to receive in the Plan Year in which the Director’s election as a member of the Company’s Board of Directors becomes effective,
beginning with Compensation earned following the filing of a Deferral election with the Committee and before the close of such Plan Year, by executing and filing a Deferral election with the Committee within thirty (30) days of the effective
date of such Director’s election. A Participant’s Deferral election for a Plan Year is irrevocable. 
 2. Non-Deferred Compensation. Any Compensation not deferred under this Plan shall be paid in accordance with normal Company policy. 

3. Vesting. A Participant shall have a fully vested and nonforfeitable right to his or her Deferrals and any credited gains or
losses attributable thereto. 
 4. Separate Election for Each Plan Year. A separate Deferral election shall be made for each
Plan Year for which a Participant desires to defer all or any portion of his or her Compensation for such Plan Year. The failure of a Participant to make a Deferral election for any Plan Year shall not affect such Participant’s right to make a
Deferral election for any other Plan Year. 
 5. Election of Form of Payment. At the time that a Participant makes a Deferral
election with respect to a Plan Year, the Participant shall designate the form in which such Deferral (and any gains and losses credited thereon) shall be distributed, in accordance with Section VII. All Deferral elections filed by Participants must

  

					
		 	-2-	 	

  

 Confidential Treatment Requested by Kontoor Brands, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 
provide for distribution to be made in a form that is consistent with the distribution options made available under the Plan and permitted under applicable law, including, without limitation,
Section 409A of the Code. A Participant’s election with respect to the form of payment of his or her Deferral for a Plan Year may not be changed, except as expressly provided for in this Plan or permitted under applicable law, including,
without limitation, Section 409A of the Code. 
 SECTION IV 

INVESTMENT 
 A
Participant’s Deferrals shall be credited with gains and losses as if such Deferrals had been invested in a hypothetical fund which invests in common stock of the Company, purchased on the open market at the then prevailing price on the New
York Stock Exchange on the date of purchase. 
 SECTION V 

RECORDS 
 The Committee
shall create and maintain adequate records, in book entry form, for each Participant of Deferrals and credited gains or losses attributable thereto. Each Participant shall be informed of the status of his or her Accrued Benefit at least quarterly.

 SECTION VI 
 PLAN
BENEFITS 
 1. Severance from Service. Upon a Participant’s Severance from Service, he or she shall be entitled to
his or her Accrued Benefit payable in accordance with Section VII. 
 2. Death. In the event of the death of a Participant
prior to Severance from Service, the Participant’s Beneficiary shall be entitled to a benefit equal to the Participant’s Accrued Benefit, payable in accordance with Section VII. 

3. Beneficiary. Each Participant should designate a Beneficiary (along with alternate beneficiaries) to whom, in the event of
the Participant’s death, any benefit is payable hereunder. Each Participant has the right to change any designation of Beneficiary and such change automatically revokes any prior designation. A designation or change of Beneficiary must be in
writing on forms supplied by the Committee and any change of Beneficiary will not become effective until filed with the Committee; provided, however, that the Committee shall not recognize the validity of any designation received after the death of
the Participant. The interest of any Beneficiary who dies before the Participant will terminate unless otherwise provided. If a Beneficiary is not validly designated, or is not living or cannot be found at the date of payment, any amount payable
pursuant to this Plan will be paid to the Spouse of the Participant if living at the time of payment, otherwise in equal shares to such of the children of the Participant as may be living at the time of payment; provided, however, that if there is
no surviving Spouse or child at the time of payment, such payment will be made to the estate of the Participant. 
 SECTION VII 

PAYMENT OF BENEFITS 
 1.
Benefits Subject to Code Section 409A. The Participant’s Deferral (and any gains and losses credited thereon) for a Plan Year shall be distributed in cash in either (a) a lump-sum payment or (b) substantially 

  

					
		 	-3-	 	

  

 Confidential Treatment Requested by Kontoor Brands, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 
equal annual installments over up to ten (10) years, as elected by the Participant in his or her Deferral election for such Plan Year. The payment to the Participant shall be made or
commence, as applicable, within ninety (90) days after the Participant’s Severance from Service; provided, however, that in the case of a Participant who is a “specified employee” within the meaning of
Section 409A(a)(2)(B)(i) of the Code, payment of such Participant’s Accrued Benefit shall not be made or commence until the date which is six (6) months after the date of the Participant’s Severance from Service (or, if earlier,
the date of death of the Participant). If a Participant dies prior to Severance from Service, his or her Beneficiary shall, within ninety (90) days after the Participant’s death, receive the Participant’s Accrued Benefit in a lump-sum payment in cash. In the event the Participant fails to make a valid election of the form of payment, the distribution will be made in a lump-sum payment in cash. 

2. Limited Cash outs. Notwithstanding any Deferral election made by the Participant or the foregoing provisions of this Section
VII, the Participant’s Accrued Benefit will be distributed in a lump-sum payment in cash, if the amount of such Accrued Benefit on the date that payment is to commence does not exceed the maximum amount
permitted to be automatically distributed under the regulations promulgated under Section 409A of the Code, with such payment made on or before the later of (i) December 31 of the calendar year in which the Participant’s
Severance from Service occurs, or (ii) the 15th day of the third month following the Participant’s Severance from Service. 

3. Acceleration Prohibited. The acceleration of the time or schedule of any payment due under Section VII.1 of the Plan is
prohibited, except as provided in regulations under Section 409A of the Code. To the extent permitted by the regulations under Section 409A of the Code, distribution of a Participant’s Accrued Benefit may be made at any time the Plan
fails the requirements of Section 409A and the regulations thereunder, with such payment not to exceed the amount required to be included in the Participant’s income as a result of the failure. 

4. Compliance with Section 409A. Notwithstanding the foregoing provisions of this Section VII,
the portion of any Accrued Benefit (or the entire Accrued Benefit, if applicable) shall be paid at such time and in such form as shall not violate the requirements of Section 409A of the Code, including, without limitation, the restriction in
Section 409A(a)(2)(B)(i) on the timing of distributions following the Severance from Service of a Participant who is a “specified employee”. 

SECTION VIII 
 FUNDING
STATUS 
 This Plan is unfunded. All obligations hereunder shall constitute an unsecured promise of the Company to pay a
Participant’s benefit out of the general assets of the Company, subject to all of the terms and conditions of the Plan, as amended from time to time, and applicable law. A Participant hereunder shall have no greater right to benefits provided
hereunder than that of any unsecured general creditor of the Company. 
 SECTION IX 

ADMINISTRATION 
 1. The
Plan shall be administered by the Committee, which shall have the following powers and responsibilities. 
  

	 	(a)	 to construe the Plan, make factual determinations, consider requests made by Participants, correct defects, and
take any and all similar actions to the extent necessary to administer the Plan, with any instructions or interpretations of the Plan made in good faith by the Committee to be final and conclusive for all purposes; 

 

	 	(b)	 to prepare periodic administration reports to the Board of Directors which will show, in reasonable detail, the
administrative operations of the Plan; and 

  

					
		 	-4-	 	

  

 Confidential Treatment Requested by Kontoor Brands, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

	 	(c)	 to take all other actions and do all other things which are reasonable and necessary to the proper
administration of the Plan. 

 2. The Committee shall have complete discretion in carrying out its powers and
responsibilities under the Plan, and its exercise of discretion hereunder shall be final and conclusive. 
 3. The Committee may, in
writing, delegate some or all of its powers and responsibilities to any other person or entity. 
 4. The Committee may hold meetings upon
such notice, at such time or times, and at such place or places as it may determine. The majority of the members of the Committee at the time in office will constitute a quorum for the transaction of business at all meetings and a majority vote of
those present and constituting a quorum at any meeting will be required for action. The Committee may also act by written consent of a majority of its members. 

5. The Committee may adopt such rules for administration of the Plan as is considered desirable, provided they do not conflict with the Plan.
Records of administration of the Plan will be kept, and Participants and their Beneficiaries may examine records pertaining directly to themselves. 

6. The Committee may retain such counsel, and actuarial, accounting, clerical and other services as they may require to carry out the
provisions and purposes of the Plan. 
 7. The Committee shall be entitled to rely upon all tables, valuations, certificates, and reports
furnished by any duly appointed auditor or actuary, upon all certificates and reports made by any investment manager or any duly appointed accountant, and upon all opinions given by any duly appointed legal counsel. 

8. No member of the Committee shall be personally liable by virtue of any instrument executed by the member, or on the member’s behalf,
as a member of the Committee. Neither the Company nor any of its officers or directors, nor any member of the Committee, shall be personally liable for any action or inaction with respect to any duty or responsibility imposed upon such person by the
terms of the Plan unless such action or inaction is judicially determined to be a breach of that person’s responsibility as a fiduciary with respect to the Plan under any applicable law. The Company shall indemnify and hold harmless its
officers, directors, and each member of the Committee against any and all claims, losses, damages, expenses (including attorneys’ fees), and liability (including, in each case, amounts paid in settlement), arising from any action or failure to
act, except when the same is judicially determined to be due to the gross negligence or willful misconduct of such officer, director or member of the Committee. The foregoing right of indemnification shall be in addition to any other rights to which
any such person may be entitled as a matter of law. 
 SECTION X 

MODIFICATION AND TERMINATION 

1. The Company reserves the right to terminate this Plan at any time or to modify, amend or suspend it from time to time. Any such termination
or modification shall be effective at such date as the Company may determine. The Company shall promptly give notice of any such modification or termination to all Participants. A modification may affect Participants, irrespective of whether they
are past, current or future Participants, provided, however, that a modification may not eliminate or reduce the Accrued Benefit of any Participant as of the effective date of such modification. 

2. To the extent permitted by the regulations under Section 409A of the Code, within the thirty (30) days preceding or the twelve
(12) months following a Change of Control, the Company may exercise its discretion to terminate the Plan and, notwithstanding any other provision of the Plan or of the terms of any Deferral election made under the Plan, distribute in full to
each Participant the portion of his or her Accrued Benefit (or the entire Accrued Benefit, if applicable). 

  

					
		 	-5-	 	

  

 Confidential Treatment Requested by Kontoor Brands, Inc. 

Pursuant to 17 C.F.R. Section 200.83 
  

 SECTION XI 

GENERAL PROVISIONS 
 1.
Nothing contained herein shall be deemed to give any Participant the right to be retained in the service of the Company. 
 2. It is a
condition of this Plan, and all rights of each Participant shall be subject thereto, that no right or interest of any Participant under this Plan or in his or her credited Deferrals (and any credited gains or losses attributable thereto) shall be
assignable or transferable in whole or in part, either directly or by operation of law or otherwise, including but without limitation, execution, levy, garnishment, attachment, pledge, bankruptcy, or in any other manner, subject, however, to
applicable law, but excluding devolution by death or mental incompetency, and no right or interest of any Participant under this Plan or in his or her credited Deferrals (and any credited gains or losses attributable thereto) shall be liable for or
subject to any obligation or liability of such Participant, subject, however, to applicable law. 
 3. All payments of benefits under the
Plan shall be subject to such taxes and other withholdings (federal, state or local) as may be due thereon, and the determination of the Committee as to withholding with respect to payments shall be binding upon the Participant and each Beneficiary.

 4. The sale of all of the assets of the Company, or a merger, consolidation or reorganization of the Company wherein the Company is not
the surviving corporation, or any other transaction which, in effect, amounts to a sale of the Company or voting control thereof, shall not terminate this Plan or any related agreements and the obligations created hereunder or thereby shall be
binding upon the successors and assigns of the Company. 
 5. If a Participant or Beneficiary entitled to receive any benefits hereunder is
deemed by the Committee or is adjudged to be legally incapable of giving valid receipt and discharge for such benefits, the benefits will be paid to such persons as the Committee might designate or to the duly appointed guardian. 

6. This Plan shall be governed by and construed in accordance with the laws of North Carolina, notwithstanding the conflict of law rules
applicable therein. 
 IN WITNESS WHEREOF, Kontoor Brands, Inc., intending to be legally bound hereby, has adopted and executed this Plan
this          day of             2019 to be effective as of the Distribution Date subject to the requirements in the first paragraph
above. 
  
  
	
	KONTOOR BRANDS, INC.
	
	  

  

					
		 	-6-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00294-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00294-of-00352.parquet"}]]