Document:

Agreement with Art Peck

 Exhibit 10.2 
 January 31, 2011 
 Art Peck 
 Dear Art, 
 Congratulations on your new position with the company! 

This letter is to confirm your compensation arrangements as President, Gap North America Division. In this position you will report to Glenn Murphy,
Chairman and CEO, Gap Inc. 
 Salary. Your annual salary will be $850,000, payable every two weeks. 

Start Date. Your first day in your new position will be February 2, 2011. 
 Annual Bonus. Based on your position as Division President, you will be eligible for an annual bonus based on achievement of Gap Inc. and/or Division financial objectives as well as key
business goal and individual performance. Under the current program, your annual target bonus will be 75% of your base salary. Depending on results, your actual bonus, if any, may be higher or lower and can reach a maximum of 150%. Bonus payments
will be prorated based on active time in position, divisional or country assignment and changes in base salary or incentive target that may occur during the fiscal year. Your annual bonus for fiscal 2011 is scheduled for payment in March 2012. You
must be employed by Gap Inc. on the payment date to receive an award. Gap Inc. has the right to modify the program at any time. Management discretion can be used to modify the final award amount. Bonus payments are subject to supplemental income tax
withholding. 
 Long-Term Incentive Awards. You will continue to participate in the Long-Term Growth Program and may be eligible for
future Long-Term Incentive Awards as a participant in the Focal Review process. 
 Termination/Severance. The provisions in the Amendment
to Agreement you signed on December 15, 2008 regarding certain compensation and benefits upon termination continue to apply. 

 Art Peck 
 January 31, 2011 
 Page Two 
  

 Abide by Gap Inc. Policies/Protection of Gap Inc. Information. You agree to abide by all Gap Inc.
policies including, but not limited to, policies contained in the Code of Business Conduct. You also agree to abide by the Confidentiality and Non-Solicitation terms below during and after your employment with Gap Inc. 

Insider Trading Policies. Based on the level of your position, you will be subject to Gap Inc.’s Securities Law Compliance Manual, which
among other things places restrictions on your ability to buy and sell Gap Inc. stock and requires you to pre-clear trades, and comply with Section 16 of the Securities Exchange Act of 1934, as amended. If you do not already have a copy of the
compliance manual, or have questions about it, you should contact Gap Inc. Stock Administration, at (415) 427-2481. 

Confidentiality. You acknowledge that you will be in a relationship of confidence and trust with Gap Inc. As a result, during your employment with
Gap Inc., you will acquire “Confidential Information,” which is information (whether in electronic or any other format) that people outside Gap Inc. never see, such as unannounced product information or designs, business or strategic
plans, financial information and organizational charts, and other materials.
 You agree that you will keep the Confidential Information in
strictest confidence and trust. You will not, without the prior written consent of Gap Inc.’s General Counsel, directly or indirectly use or disclose to any person or entity any Confidential Information, during or after your employment, except
as is necessary in the ordinary course of performing your duties while employed by Gap Inc., or if required to be disclosed by order of a court of competent jurisdiction, administrative agency or governmental body, or by subpoena, summons or other
legal process, provided that prior to such disclosure, Gap Inc. is given reasonable advance notice of such order and an opportunity to object to such disclosure. 
 You agree that in the event your employment terminates for any reason, you will immediately deliver to Gap Inc. all company property, including all documents, materials or property of any description, or
any reproduction of such materials, containing or pertaining to any Confidential Information. 
 Non-Solicitation of Employees. In order
to protect Confidential Information, you agree that so long as you are employed by Gap Inc., and for a period of one year thereafter, you will not directly or indirectly, on behalf of yourself, any other person or entity, solicit, call upon,
recruit, or attempt to solicit any of Gap Inc.’s employees or in any way encourage any Gap Inc. employee to leave their employment with Gap Inc. You further agree that you will not directly or indirectly, on behalf of yourself, any other person
or entity, interfere or attempt to interfere with Gap Inc.’s relationship with any person who at any time was an employee, consultant, customer or vendor or otherwise has or had a business relationship with Gap Inc. 

Non-disparagement. You agree now, and after your employment with the Gap Inc. terminates not to, directly or indirectly, disparage Gap Inc. in any
way or to make negative, 

 Art Peck 
 January 31, 2011 
 Page Three 

 

 derogatory or untrue statements about Gap Inc., its business activities, or any of its directors,
managers, officers, employees, affiliates, agents or representatives to any person or entity. 
 Employment Status. You understand that
your employment is still “at-will”. This means that you do not have a contract of employment for any particular duration or limiting the grounds for your termination in any way. You are free to resign at any time. Similarly, Gap Inc. is
free to terminate your employment at any time for any reason. The only way your at-will status can be changed is if you enter into an express written contract with Gap Inc. that contains the words “this is an express contract of
employment” and is signed by an officer of Gap Inc. 
 In the event that there is any dispute over the terms, enforcement or obligations in
this letter, the prevailing party shall be entitled to recover from the other party reasonable attorney fees and costs incurred to enforce any agreements. 
 Please note that except for those agreements or plans referenced in this letter, this letter contains the entire understanding of the parties and supersedes any other agreements, representations or
understandings (whether oral or written and whether express or implied) with respect to this offer. Please review and sign this letter and return it to Eva Sage-Gavin at Gap Inc. You may keep one original for your personal records. 

Art, congratulations on this latest achievement in your career at Gap Inc. 

 

	
	Yours sincerely,
	
	 /s/ Glenn Murphy

	Glenn Murphy
	Chairman and CEO, Gap Inc.
	
	Confirmed this 29th day of January, 2011
	
	 /s/ Art Peck

	Art PeckAmendment No. 1 to Term Loan and Revolving Credit Agreement

 Exhibit 10.4 
 EXECUTION COPY 
 LETTER AMENDMENT No. 1 

Dated as of April 25, 2011 
 To the banks, financial institutions 
 and other institutional lenders 

(collectively, the “Lenders”) parties 
 to the Credit Agreement referred to 
 below and to Bank of America, N.A.,

 as Agent for the Lenders 
 Ladies and Gentlemen: 
 We refer to the Term Loan and Revolving Credit Agreement
dated as of April 7, 2011 (the “Credit Agreement”) among the undersigned, the LC Subsidiaries and Subsidiary Borrowers named therein, the Issuing Banks and Swing Line Lenders named therein and you. Capitalized terms not
otherwise defined in this Letter Amendment have the same meanings as specified in the Credit Agreement. 
 You and we have
agreed, upon the following terms and conditions, to amend the Credit Agreement in certain respects. Accordingly, it is hereby agreed by you and us as follows: 
 Section 1. Amendments to Credit Agreement. Subject to the satisfaction of the conditions precedent set forth in Section 3, effective as of the date of this Letter Amendment: 

(a) The definition of “Term Facility” in Section 1.01 of the Credit Agreement is, hereby amended by deleting the date
“April 29, 2011” and substituting therefor the date “May 19, 2011.” 
 (b) The definition of “Term
Lender” in Section 1.01 of the Credit Agreement is, hereby amended by deleting the date “April 29, 2011” and substituting therefor the date “May 19, 2011” in both places such date appears. 

(c) Section 2.01(b) of the Credit Agreement is, hereby amended by deleting the date “April 29, 2011” and substituting
therefor the date “May 19, 2011.” 
 Section 2. Representation. The Company represents and warrants that
the representations and warranties contained in Section 6.01 of the Credit Agreement are correct on and as of the date hereof, except to the extent that any such representation or warranty is stated to relate to an earlier date, in which case
such representation or warranty shall be true and correct on and as of such earlier date, before and after giving effect to this Amendment, and no Default has occurred and is continuing. 

Section 3. Effectiveness, Etc. This Letter Amendment shall become effective as of the date first above written when, and only
when, the Agent shall have received counterparts of this Letter Amendment executed by the undersigned and all the Lenders. This Letter Amendment is subject to the provisions of Section 10.01 of the Credit Agreement. 

 On and after the effectiveness of this Letter Amendment, each reference in the Credit
Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the Notes and each of the other Loan Documents to “the Credit Agreement”,
“thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement, as amended by this Letter Amendment. 

The Credit Agreement, the Notes and each of the other Loan Documents, as specifically amended by this Letter Amendment, are and shall
continue to be in full force and effect and are hereby in all respects ratified and confirmed. The execution, delivery and effectiveness of this Letter Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power
or remedy of any Lender or any Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents. 
 If you agree to the terms and provisions hereof, please evidence such agreement by executing and returning at least two signature page of this Letter Amendment to Susan L. Hobart, Shearman &
Sterling LLP, 599 Lexington Avenue, New York, New York 10022. 
 This Letter Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart
of a signature page to this Letter Amendment by telecopier or other electronic medium shall be effective as delivery of an original executed counterpart of this Letter Amendment. 

  

					
	Gap Letter Amendment No. 1	  	2	  	

 This Letter Amendment shall be governed by, and construed in accordance with, the laws of
the State of New York. 
  

					
	Very truly yours,
		
		 	THE GAP, INC.
			
		 	By:	 	 /s/ Jennifer Cho

		 	Name:	 	Jennifer Cho
		 	Title:	 	Vice President and Treasurer

 Agreed as of the date
first above written: 
  

			
	BANK OF AMERICA, N.A., as Agent and as a Lender
		
	By:	 	 /s/ Sabrina Hassan

	Name:	 	Sabrina Hassan
	Title:	 	Assistant Vice-President
	
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	 /s/ Barry K. Bergman

	Name:	 	Barry K. Bergman
	Title:	 	Managing Director
	
	CITIBANK, N.A.
		
	By:	 	 /s/ Shannon Sweeney

	Name:	 	Shannon Sweeney
	Title:	 	Vice President
	
	HSBC BANK USA, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Thomas A. Foley

	Name:	 	Thomas A. Foley
	Title:	 	Managing Director
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Sid Khanolkar

	Name:	 	Sid Khanolkar
	Title:	 	Vice President

  

					
	Gap Letter Amendment No. 1	  		  	

			
	THE BANK OF NOVA SCOTIA
		
	By:	 	 /s/ John Mathews

	Name:	 	John Mathews
	Title:	 	Director – Corporate Banking
	
	DEUTSCHE BANK AG NEW YORK BRANCH
		
	By:	 	 /s/ Ross Levitsky

	Name:	 	Ross Levitsky
	Title:	 	Managing Director
		
	By:	 	 /s/ Philippe Sandmeier

	Name:	 	Philippe Sandmeier
	Title:	 	Managing Director
	
	GOLDMAN SACHS BANK USA
		
	By:	 	 /s/ Lauren Day

	Name:	 	Lauren Day
	Title:	 	Authorized Signatory
	
	U.S. BANK NATIONAL ASSOCIATION
		
	By:	 	 /s/ Conan Schleicher

	Name:	 	Conan Schleicher
	Title:	 	Vice President
	
	SUMITOMO MITSUI BANKING CORPORATION
		
	By:	 	 /s/ William M. Ginn

	Name:	 	William M. Ginn
	Title:	 	Executive Officer
	
	BANK OF THE WEST
		
	By:	 	 /s/ William A. Pope

	Name:	 	William A. Pope
	Title:	 	Vice President

  

					
	Gap Letter Amendment No. 1	  		  	

			
	FIFTH THIRD BANK
		
	By:	 	 /s/ Gary S. Losey

	Name:	 	Gary S. Losey
	Title:	 	Vice President – Corporate Banking
	
	ROYAL BANK OF CANADA
		
	By:	 	 /s/ Jennifer Lee-You

	Name:	 	Jennifer Lee-You
	Title:	 	Attorney In Fact
	
	ROYAL BANK OF CANADA (NEW YORK)
		
	By:	 	 /s/ Dustin Craven

	Name:	 	Dustin Craven
	Title:	 	Attorney-In-Fact
	
	ROYAL BANK OF CANADA (LONDON)
		
	By:	 	 /s/ Michael Atherton

	Name:	 	Michael Atherton
	Title:	 	Managing Director, Corporate Banking

  

					
	Gap Letter Amendment No. 1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00190-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00190-of-00352.parquet"}]]