Document:

Compromise Agreement, as of  Sept 3, 2003 between Levi Strauss & Joe Middleton

 Exhibit 10.10 
  
 THIS AGREEMENT is made on the day of 3 September 2003 
  
 BETWEEN: 
  

	(1)	LEVI STRAUSS (U.K.) LTD, of Swan Valley, Northampton, NN4 9BA; (the “Company”); and 

  

	(2)	JOE MIDDLETON, of Avenue De l’Horizon 26, Woluwe St. Pierre, 1150 Brussels, Belgium (“You”). 

  
 WHEREAS 
  

	A.	You have resigned from the employment and holding of all offices and directorships with the Company and all Associated Companies by your letter dated 1 September 2003 by the giving
of six months’ notice commencing 1 September 2003. 

  
 IT IS
NOW AGREED THAT: 
  
 Termination 
  

	1.	Your employment with the Company and all Associated Companies shall terminate on the Termination Date. 

  

	2.	The Company will pay to You all your current salary and goods and services allowances less hypothetical housing and hypothetical taxes up to and including the Termination Date. It
is estimated that, excluding expatriate and other benefits and based on the Company’s current hypothetical tax rates, your gross pay and net pay for your notice period is estimated at US$ 255,000 gross and US$ 225,000 net in total which will be
paid as normal to You on the Company’s normal payroll date each month until the Termination Date. The increased net is due to the reduction in US tax rates which affects the balance of your pay for the remainder of 2003.

  
 Severance Compensation 
  

	3.	Subject to You complying with your obligations under this Agreement the Company shall pay/make available, to You on its own behalf, and on behalf of all Associated Companies, the
sums and benefits set out in this Agreement without admission of any liability whatsoever, as compensation in respect of the Employment Protection Claims and all other claims waived by Clause 18 below. The sums shall include any entitlement You may
have to receive any statutory or contractual payments of whatever kind in any jurisdiction whatsoever (including, but not limited to, the UK and Belgium). 

  

	4.	The Company shall, by way of further compensation for Employment Protection Claims and without any admission of liability whatsoever, pay You an additional net sum of US$ 400,000 on
the Termination Date. 

  

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 Expenses 
  

	5.	The Company shall reimburse You for all business expenses properly and reasonably incurred by You up to the Termination Date subject to your compliance with the Company’s rules
and procedures relating to expenses and the production of satisfactory receipts. Reimbursement will be made in accordance with the Company’s relevant procedures. 

  
 Benefits 
  

	6.	The Company shall, by way of further compensation for Employment Protection Claims and without any admission of liability whatsoever, at its own cost, procure that You shall remain
covered by the Company’s Global Assignment Policy for Third Country Nationals (“Global Assignment Policy”) until the Termination Date. Your continuing membership and the use of this benefit is entirely dependent on the rules of the
Company policy and related schemes from time to time in force. 

  

	7.	The Company shall, by way of further compensation for Employment Protection Claims and without any admission of liability whatsoever, pay on behalf of You a net sum of US$ 75,000
for your children’s school fees. Payment will be made by the Company directly to the relevant school within 30 days of receipt by the Company of an invoice from the school. 

  
 Leadership Shares Plan 
  

	8.	The Company shall, by way of further compensation for the Employment Protection Claims and without any admission of any liability whatsoever, procure that the second third of your
2000 Leadership Shares grant will vest no later than 30 November 2003 in accordance with the Leadership Shares Plan (the “Plan”). 

  

	9.	Payment under the Plan will be made no later than 28 February 2004. On the receipt by the Company of satisfactory proof that You have authorized the wiring to Levi Strauss & Co
of US$ 1,000,000 in respect of your outstanding loan to the Company, the Company shall procure that the deposit of the Leadership Shares payment is sent to your UK bank account. The gross payment of the Leadership Shares is guaranteed to be the
higher of US$ 3,000,000 gross or the actual value of the Leadership Shares subject to the normal hypothetical tax and other deductions as per your normal payments. Under the current hypothetical tax rates, You will be paid a net sum of US$
1,950,000. 

  
 Outplacement Costs 
  

	10.	The Company shall, by way of further compensation for the Employment Protection Claims and without any admission of any liability whatsoever, make available executive outplacement
services for You, up to a total cost of £15,000 (inclusive of any VAT). Payment will be made by the Company directly to the outplacement agency which provides the services against receipt of an invoice from the agency addressed to the Company.

  

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	11.	The Company will reimburse You the cost of up to a maximum of 26 return economy Eurostar tickets to London and 26 nights’ reasonable overnight accommodation expenses (up to a
maximum of £130 per night) in order for You to avail yourself of the outplacement support in the UK whilst You are still resident in Belgium. This benefit will continue for a maximum of 26 weeks from the date of this Agreement. Reimbursement
is also subject to You presenting satisfactory invoices or receipts in respect of such expenditure. Where these costs are incurred by You prior to the Termination Date, You should submit these as a normal business expense. 

 
 Repatriation 
  

	12.	The Company shall, by way of further compensation for the Employment Protection Claims and without any admission of any liability whatsoever, reimburse to You your repatriation
costs for You and your immediate family back to the United Kingdom or another location of your choice. This will be in line with the Company’s current Global Assignment Policy and will cover the following elements which are all set out in
detail in the policy: 

  

	 	12.1	Resettlement allowance of US $5,000; 

  

	 	12.2	Forced sale loss on one car; 

  

	 	12.3	Removal of household goods in line with the Global Assignment Policy; 

  

	 	12.4	Temporary living in the home country up to 5 days plus expenses; 

  

	 	12.5	Temporary living in the host country up to two weeks; 

  

	 	12.6	Lease breaking penalties; 

  

	 	12.7	A rental car in the host country for a period of 30 days; 

  

	 	12.8	Completion of your tax returns for Belgium for 2003 and 2004 as required; and 

  

	 	12.9	Reimbursement of costs for tax advice up to US$ 10,000. 

  

	13.	If You choose to relocate to another location other than the UK, then the Company will cover up to an equivalent cost. 

  

	14.	Payments where relevant will be made by the Company directly to service providers against receipt of an invoice from the relevant service provider addressed to the Company.

  
 Directorships 
  

	15.	You shall contemporaneously with the signing of this Agreement tender your resignation from all directorships and other offices which You hold with the Company or any Associated
Company in the form set out in the draft letter attached hereto in Annex 2, such resignations taking effect from the date of this Agreement. 

  

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	16.	The Company warrants that Directors’ and Officers’ liability insurance has and will be maintained in respect of the directorships held by You to the extent that it
continues to apply to existing directors of the Company. 

  
 Legal Costs 
  

	17.	The Company shall pay your legal costs up to a limit of £2,000 (inclusive of disbursements and VAT) provided that: 

  

	 	17.1	the Advisor (as defined in Clause 25.1 below) provides the Company with written confirmation that such legal costs were incurred solely in advising You regarding the termination of
your employment and the preparation of this Agreement; and 

  

	 	17.2	payment is made by the Company directly to the Advisor against receipt of a copy of an invoice from your solicitor addressed to You. 

  
 Settlement And Waiver 
  

	18.	You accept the sums and benefits to be given to You under this Agreement in full and final settlement of the Employment Protection Claims and all other claims and rights of action
whatsoever (whether under common law, contract, statute or pursuant to European Community law or otherwise) in any jurisdiction in the world including but not limited to under Belgian or English laws, that You have or may have against the Company or
any Associated Company, or their respective officers or employees, arising out of or in connection with your employment or holding of any office with the Company or any Associated Company or its termination. This waiver does not apply to any claim
in respect of any accrued pension rights or any personal injury claim by You regarding a condition which develops for the first time after the date of this Agreement provided no symptoms of such condition have manifested themselves on or before the
date of this Agreement. Further, You warrant and confirm that, as at the date of this Agreement, You are unaware of any facts, matters or circumstances which could give rise to any claim in respect of any accrued pension rights or any personal
injury claim. 

  

	19.	To avoid doubt, the waiver in Clause 18 above shall apply whether or not, as at the date of this Agreement, You know of the facts which give rise to any such claim and/or the law
recognizes the existence of such claim or right of action. 

  

	20.	You hereby assert that You may have claims (and therefore could bring proceedings) against the Company or an Associated Company for any of the Employment Protection Claims.

  

	21.	You hereby agree that, except for the sums and benefits referred to in this Agreement, no other sums or benefits are due to You from the Company or any Associated Company.

  

	22.	 You agree and warrant that the Employment Protection Claims are all of the claims and prospective proceedings that You have in any jurisdiction whatsoever against
the Company or an Associated Company arising out of or in connection 

  

 4 

	 	 
with your employment or its termination. You confirm that You enter into this warranty having consulted with and having taken legal advice from the Advisor
in respect of all claims and prospective proceedings You may have. 

  

	23.	You acknowledge that the Company has entered into this Agreement in reliance on the warranties and acknowledgements given by You herein. In the event of any breach by You of the
warranties or any of them and/or in the event of You commencing any legal proceedings against the Company, or any Associated Company or their respective officers or employees, after all or part of the monies or benefits referred to in this Agreement
have been paid/given to You or for your benefit, then the Company, in its sole discretion, may elect by a written notice to require You to repay all such monies so paid to You or for your benefit and no further monies or benefits shall be paid/made
available to You under this Agreement. In the event that the Company serves such notice on You, You agree to repay forthwith any monies paid under Clauses 3 and 4 together with interest thereon calculated at National Westminster Bank Base Rate for
the period commencing on the date when such monies/benefits were paid/made available to You or for your benefit and ending on the date when the Company receives the return of such monies in full. In that event the claim compromised by You under this
Agreement shall be reinstated. 

  

	24.	You agree that on the Termination Date You will repeat the agreements and warranties set out in this Agreement including those set out in this Clauses 18 to 23. If the Company so
wishes, You will reconfirm this in writing. 

  
 Compliance
With Statutory Provisions 
  

	25.	The Company and You believe the following statements to be true: 

  

	 	25.1	Ms Catherine Prest of Eversheds, Senator House, 85 Queen Victoria Street, London, EC4V 4JL is a qualified independent lawyer and has provided written confirmation of that competence
and authorisation which is attached as Annex 1 hereto, ( “the Advisor”). 

  

	 	25.2	the Advisor has advised You on the terms and effect of this Agreement and in particular its effect on your ability to pursue your rights before an Employment Tribunal and has signed
a certificate attached as Annex 1; 

  

	 	25.3	there was in force when the Advisor gave the advice referred to in Clause 25.2 a policy of insurance, or an indemnity provided for members of a profession or professional body,
covering the risk of claims by You in respect of any loss arising in consequence of that advice; and 

  

	 	25.4	this Agreement satisfies all of the conditions relating to compromise agreements under Section 203(3) Employment Rights Act 1996, Section 77(4A) Sex Discrimination Act 1975 (as
amended), Section 72(4A) Race Relations Act 1976 and Section 9(3) Disability Discrimination Act 1995 (as amended). 

  

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 Company Property 
  

	26.	On or before the Termination Date, You hereby undertake to account for and return forthwith to the Company all property (including but not limited to documents and disks, your
company car, lap top computer, mobile telephone, credit cards, equipment, samples, keys and passes) belonging to it or any Associated Company which is or has been in your possession or under your control. Documents and disks shall include but not be
limited to correspondence, files, e-mails, memos, reports, minutes, plans, records, surveys, software, diagrams, computer print-outs, floppy disks, manuals, customer documentation or any other medium for storing information. Your obligations under
this Clause 26 shall be deemed to include the return of all copies, drafts, reproductions, notes, extracts or summaries (howsoever made) of the foregoing. You shall, if requested by the Company, confirm in writing your compliance with your
obligations under this Clause 26. 

  
 Your Ongoing
Obligations 
  

	27.	In consideration of the Company’s undertakings set out in Clause 28 below, You hereby agree: 

  

	 	27.1	during the period from the date of the Agreement to the Termination Date (“Notice Period”), to continue to be bound by your fiduciary duties, the duty of fidelity and to
act in the interests of the Company and its Associated Companies; 

  

	 	27.2	during the Notice Period, to perform all duties in connection with the handover of your role, as reasonably required or requested by the Company or an Associated Company. This will
include business trips outside of Belgium; 

  

	 	27.3	for a period of six months immediately following the Termination Date whether on your own behalf or in conjunction with or on behalf of any person, company, business entity or other
organisation (and whether as an employee, director, principal, agent, consultant or in any other capacity whatsoever), directly or indirectly not to (i) solicit or, (ii) assist in soliciting, or (iii) accept, or (iv) facilitate the acceptance of, or
(v) deal with, in competition with the Company, the custom or business of any Customer or Prospective Customer: 

  

	 	27.3.1	with whom You have had personal contact or dealings on behalf of the Company during the twelve months immediately preceding the Termination Date; or 

  

	 	27.3.2	for whom You were, in a client management capacity on behalf of the Company, directly responsible during the twelve months immediately preceding the Termination Date;

  

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	 	27.4	for a period of six months immediately following the Termination Date either on your own behalf or in conjunction with or on behalf of any other person, company, business entity, or
other organisation (and whether as an employee, principal, agent, consultant or in any other capacity whatsoever), directly or indirectly not to: 

  

	 	27.4.1	(i) induce, or (ii) solicit, or (iii) entice or (iv) procure, any person who is a Restricted Employee to leave the Company’s or any Associated Company’s employment (as
applicable) where that person is a Restricted Employee; or 

  

	 	27.4.2	be personally involved to a material extent in (i) accepting into employment or (ii) otherwise engaging or using the services of, any person who is a Restricted Employee;

  

	 	27.5	not to divulge or make use of (whether directly or indirectly and whether for your own or another’s benefit or purposes) any trade secrets or confidential information including
but not limited to such information relating to business plans or dealings, technical data, existing and potential projects, financial information dealings and plans, sales specifications or targets, customer lists or specifications, customers,
business developments and plans, research plans or reports, sales or marketing programmes or policies or plans, price lists or pricing policies, employees or officers, source codes, computer systems, software, designs, formula, prototypes, past and
proposed business dealings or transactions, product lines, services, and research activities) belonging to or which relate to the affairs of the Company or any Associated Company, or any document marked “Confidential” (or with a similar
expression), or any information which You have been told is confidential or which You might reasonably expect the Company would regard as confidential or information which has been given in confidence to the Company or any Associated Company by a
third party. This obligation shall apply from the Termination Date and without limitation in time, but shall not apply to any disclosures required by law or to any information in the public domain other than by way of unauthorised disclosure
(whether by You or another person) or to such information which You are entitled to disclose under the Public Interest Disclosure Act 1998; 

  

	 	27.6	not to make, or cause to be made, (directly or indirectly) any derogatory or critical comments or statements (whether orally or in writing) about the Company or any Associated
Company; 

  

	 	27.7	not to disclose (directly or indirectly) to any person or organisation the existence or contents of this Agreement except to your professional advisers, the Inland Revenue and your
spouse, provided always that disclosure to your professional advisers and spouse shall be on terms that they agree to keep the same confidential, and that any breach by your professional advisers or spouse shall be deemed to be a breach by You; and

  

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	 	27.8	not to make, or cause to be made (directly or indirectly), any statement or comment to the press or other media concerning your employment with the Company, or its termination, or
your resignation from any directorships with the Company or any Associated Company without the prior written consent of the Company. 

  
 The Company’s Ongoing Obligations 
  

	28.	In consideration of your undertakings set out in Clause 27 above, the Company agrees: 

  

	 	28.1	not to disclose (directly or indirectly) to any person or organisation the existence or contents of this Agreement except to its professional advisers (on terms that they agree to
keep the same confidential), the Inland Revenue or as otherwise required by law; 

  

	 	28.2	that the management team will not make or cause to be made any derogatory or critical comments or statements (whether orally or in writing) about You, except as required by law.

  
 Warranties 
  

	29.	You warrant that at the date of this Agreement You have not: 

  

	 	29.1	been offered any employment or consultancy or similar earning activity by any person, company, firm or other organisation whatsoever; or 

  

	 	29.2	received an indication from a third party that You may receive such an offer of the type referred to in Clause 29.1 above from any specific company, business entity, person or
organisation; or 

  

	 	29.3	accepted any such employment or consultancy or other similar earning activity. 

  

	30.	You warrant that there are no matters of which You are aware relating to any acts or omissions of You or any Associated Company which, if disclosed to the Company, would or might
affect the decisions of the Company to make the sums or provide the benefits referred to in this Agreement. 

  
 Definitions 
  

	31.	For the purposes of this Agreement the following words and phrases shall have the meanings set out below: 

  

					
	“Associated Company”	  	includes any firm, company, business entity or other organisation:
			
	 	  	(a)	 	which is directly or indirectly controlled by the Company; or
			
	 	  	(b)	 	which directly or indirectly controls the Company; or

  

 8 

					
			
	 	  	(c)	 	which is directly or indirectly controlled by a third party who also directly or indirectly controls the Company; or
			
	 	  	(d)	 	of which the Company or any Associated Company is a partner; or
			
	 	  	(e)	 	of which the Company or any Associated Companies referred to in Clauses (a) to (d) above owns or has a beneficial interest (whether directly or indirectly) in 20% or more of the issued share
capital or 20% or more of the capital assets.
		
	“Control”	  	has the meaning set out in S.416 Taxes Act 1988 (as amended).
		
	“Customer”	  	means any person, firm, company or other organisation whatsoever to
whom the Company has supplied goods or services.
		
	 “Employment Protection
 Claims”
	  	means a claim against the Company or an Associated Company for any of
the following:
			
	 	  	(a)	 	unfair and/or constructive dismissal;
			
	 	  	(b)	 	pay in lieu of notice or damages for termination of employment without notice;
			
	 	  	(c)	 	a redundancy payment whether statutory or enhanced;
			
	 	  	(d)	 	unlawful deductions from pay;
			
	 	  	(e)	 	any claim of discrimination under any laws of any jurisdiction (including but not limited to sex, race, disability, age, and religious discrimination);
			
	 	  	(f)	 	breach of contract or statute including but not limited to unpaid wages, unpaid holiday pay, departure holiday pay and/or unpaid sick pay, bonus, commission or end of year
premiums;
			
	 	  	(g)	 	any claim in respect of any share options or any other incentive or bonus schemes held by You in the Company or in any Associated Company;
			
	 	  	(h)	 	breaches of the Public Interest Disclosure Act 1988;

  

 9 

					
			
	 	  	(i)	 	tort or other claim at common law;
			
	 	  	(j)	 	any claim under Belgian law or collective agreement relating to your employment; and
			
	 	  	(k)	 	any claim under Dutch, German and Spanish law relating to the cessation of directorships with any Associated Company.
		
	“Prospective Customer”	  	means any person, firm, company or other organisation with whom the
Company has had any negotiations or material discussions regarding the
possible supply of goods or services
by the Company.
		
	“Restricted Employee”	  	means any person who was employed by (i) the Company or (ii) any
Associated Company, during the twelve months immediately preceding the
Termination Date and
			
	 	  	(a)	 	with whom You had material contact or dealings in performing your duties of employment; or
			
	 	  	(b)	 	who had material contact with customers or suppliers of the Company or an Associated Company in performing his or her duties of employment with the Company or any Associated Company (as
applicable); or
			
	 	  	(c)	 	who was a member of the management team and their direct management level reports of the Company or any Associated Company (as applicable).
		
	“Termination Date”	  	means 28 February 2004.

  
 All references in this
Agreement to the Company or any Associated Companies shall include any successor in title or assign of the Company or any of the Associated Companies. 
  
 Severability 
  

	32.	The various provisions and sub-provisions of this Agreement are severable and if any provision or identifiable part thereof is held to be unenforceable by any court of competent
jurisdiction then such unenforceability shall not affect the enforceability of the remaining provisions or identifiable parts thereof in this Agreement. 

  

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 Entire Agreement 
  

	33.	The terms of this Agreement constitute the entire agreement and understanding between the parties hereto and it supersedes and replaces all prior negotiations, agreements,
arrangements or understandings (whether implied or expressed, orally or in writing) concerning the subject-matter hereof, all of which are hereby treated as terminated by mutual consent. 

  
 Miscellaneous 
  

	34.	This Agreement is governed by English Law and the parties hereby submit to the exclusive jurisdiction of the English Courts. 

  

	35.	With the exception of Associated Companies who may enforce the rights and benefits conferred on them by this Agreement, a person who is not a party to this Agreement shall not have
any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this Agreement. 

  
 EXECUTED by the parties in U.S.A 
  

					
	 Signedby Fred Paulenich
 for and on behalf of
 LEVI STRAUSS (U.K.) LTD
	  	 )
 )
 )
	  	 
	 	 	

	  	  	Fred Paulenich
	  	  	 
			
	 	  	 	  	 
	Signed by JOE MIDDLETON	  	)	  	 
	 	 	 	 	

	 	  	 	  	Joe Middleton

  

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 ANNEX 1—ADVISOR’S CERTIFICATE 
  
 I, Catherine Prest confirm that Mr Joe Middleton of Avenue de l’Horizon 26, Woluwe St
Pierre, 1150 Brussels, Belgium (the “Executive”) has received independent legal advice from me on the terms and effect of this Agreement in accordance with the provisions of Section 203(3) Employment Rights Act 1996, Section 77(4A) Sex
Discrimination Act 1975 (as amended), Section 72(4A) Race Relations Act 1976 and Section 9(3) Disability Discrimination Act 1995 (as amended). I also confirm that I have advised the Executive in respect of all of the claims and prospective
proceedings that he has or may have against the Company, all Associated Companies (as defined in Clause 31 of this Agreement) out of or in connection with his employment or its termination. 
  
 I also warrant and confirm that I am a solicitor of the Supreme Court, who holds a valid
practising certificate and whose Firm, Eversheds, Senator House, 85 Queen Victoria Street, London, EC4V 4JL, is covered by a policy of insurance or an indemnity provided for members of a profession or professional body which covers the risk of
claims by the Executive in respect of any loss arising in consequence of such advice that I have given to the Executive in connection with the terms and effect of this Agreement. 
  

									
					
	SIGNED:	 	 	 	 	 	DATED:	 	 
	 	 	
	 	 	 	 	 	

	 	 	 Catherine Prest
 Solicitor
	 	 	 	 	 	 

  

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 ANNEX 2—FORMAT OF LETTER RESIGNING FROM DIRECTORSHIPS 
  
 The Board of Directors 
 Levi Strauss & Co 
 1155 Battery Street 
 San Francisco 
 CA 94111 
 USA

  
 3 September 2003 
  
 Dear Sirs: 
  
 Resignation from directorships and other offices 
  
 I write to confirm my resignation, with immediate effect from the date of this letter, from all directorships and other offices which I hold
within the Levi Strauss & Co group of companies, including (without limitation) the following: 
  

			
	 Dockers Europe B.V.:
	  	Director
		
	 Levi Strauss Germany GmbH:
	  	Director
		
	 Levi Strauss de España S.A.:
	  	Director

  
 and I instruct and irrevocably
authorise, you, as my agent, to convey and effect such resignations to each of the relevant companies, by sending a copy of this letter to the respective Boards of Directors. 
  
 I further confirm that I have no cause of action against the Company or any Associated Companies (as defined in Clause 31 of the Severance
Agreement between myself and Levi Strauss (U.K.) Limited dated 3 September 2003) and hereby waive all and any such claims against it or them, arising from or connected with the above resignations. 
  
 Yours faithfully, 
  

	
	
	 
	

	Joe Middleton

  

 13Agreement, dated as of Dec 1, 2003 between Levi Strauss & Alvarez & Marsal, Inc

 Exhibit 10.11 
  
 [GRAPHIC APPEARS HERE] 

 101 East 52nd Street
– 6th Floor • New York, NY 10022 • Phone: 212.759.4433 • Fax: 212.759.5532 
  
 December 1, 2003 
  
 Philip A. Marineau 
 President and Chief
Executive Officer 
 Levi Strauss & Co. 
 1155 Battery Street

 San Francisco, CA 94111 
  
 Dear Mr. Marineau: 
  
 This letter confirms and sets forth the terms and conditions of the engagement between Alvarez & Marsal, Inc. (“A&M”) and Levi Strauss & Co. (the “Company”), including the scope of the
services to be performed and the basis of compensation for those services. Upon execution of this letter by each of the parties below and receipt of the retainer described below, this letter shall constitute an agreement between the Company and
A&M. 
  

	 	1.	Description of Services 

  
 A&M shall provide the services described below. A&M shall report directly to the Chief Executive Officer of the Company (the “CEO”) and
the Board of Directors of the Company (the “Board”). The services to be provided by A&M are: 
  

	 	a.	Officers and Additional Personnel. In connection with this engagement, A&M shall make available to the Company: 

  

	 	(i)	Antonio Alvarez to serve as Senior Advisor of the Company (the “SA”) and shall be an executive officer of the Company); 

  

	 	(ii)	James P. Fogarty to serve as the Chief Financial Officer of the Company (the “CFO”); and 

  

	 	(iii)	Upon the mutual agreement of A&M and the Company, such additional personnel as are necessary to assist in the performance of the duties set forth in clause 1.b below (the
“Additional Personnel”). The SA, CFO and the Additional Personnel shall perform services for the Company according to the terms of paragraph 1(d) below. During the first ninety to one-hundred-twenty days (the “Phase One Review”),
approximately four to six Additional Personnel shall be utilized. After the Phase One Review, and to the extent appropriate and feasible given the 

  

Atlanta • Chicago • Dallas • Houston • Los Angeles • New York • Phoenix • San Francisco • London • Paris
• Hong Kong 
  
 www.alvarezandmarsal.com 

 Philip A. Marineau 
 December 1, 2003 
  Page
 2
 of 12 
  

	 	 
nature of the engagement plan going forward, the same individuals who serve as Additional Personnel, and such other personnel as shall be mutually agreed,
shall provide services to the Company. 

  

	 	b.	Duties of A&M.  

  
 The following services shall be performed and completed during the Phase One Review: 
  

	 	(i)	The SA, the CFO, and the Additional Personnel, in cooperation with the CEO, shall perform a comprehensive study and analysis of the business, operations, capital structure,
financial condition, projections (including cash flow and liquidity), and short and long-term prospects of the Company; 

  

	 	(ii)	The SA, the CFO, and the Additional Personnel shall assist the CEO in the identification of opportunities in the following areas: cost reductions, operational improvements, working
capital improvements, revenue improvements and management personnel upgrades. We expect that during the Phase One Review, A&M shall both identify opportunities for the Company and assist the Company in executing such opportunities, as agreed
with the CEO and, as appropriate, the Board. 

  

	 	(iii)	The SA, the CFO, and the Additional Personnel shall assist the CEO in developing for the Board’s review possible restructuring plans or strategic alternatives for maximizing
the enterprise value of the Company, including maximizing the value of the Company’s various business lines; and 

  

	 	(iv)	The SA, the CFO and the Additional Personnel shall perform such other services as reasonably requested or directed by the Board and CEO relating to the services described herein or
as agreed to by A&M. 

  
 The Phase One Review
shall be completed within ninety to one-hundred-twenty days from the date hereof. A comprehensive presentation of findings shall be made to the Board at such time. 
  

	 	c.	Additional Duties of CFO. 

  
 The CFO shall perform such duties and responsibilities as is customary of a chief financial officer of a company of similar size and operations,
including: (i) participation in the Company’s Worldwide Leadership Team; (ii) responsibility for the Company’s regional business unit finance, controllers, tax and treasury functions; (iii) appropriate interaction with the internal audit
function; and (iv) appropriate actions relating to filings and documents as required by applicable federal and state securities laws 

  

 Alvarez & Marsal • 101 East 52nd Street – 6th Floor • New York, NY 10022 • Phone: 212.759.4433 • Fax: 212.759.5532 
  
 www.alvarezandmarsal.com 

 Philip A. Marineau 
 December 1, 2003 
  Page
 3
 of 12 
  

 
and under the Company’s credit agreements, bond indentures and other financing documents. 
  

	 	d.	Employment by A&M. 

  

	 	(i)	The SA, the CFO, and the Additional Personnel shall continue to be employed by A&M. With respect to the Company, however, the SA, the CFO, and any Additional Personnel shall
operate under the direction of the CEO and the Board. The SA shall be substantially full time during the Phase One Review portion of this Agreement, except for A&M firm matters; thereafter, the Company and A&M shall mutually agree on his
time commitment. The CFO shall be full time during the term of this Agreement. 

  

	 	(ii)	The Company, the SA, the CFO, the Additional Personnel and A&M are and shall remain independent contracting parties; the arrangements contemplated by this Agreement do not
create a partnership, joint venture, employment, fiduciary or similar relationship for any purpose. Each of the Company, the SA, the CFO, the Additional Personnel and A&M shall be solely responsible for the payment of all wages, and federal,
state and local payroll, social security, unemployment, insurance and similar taxes for all of its employees. None of the SA, CFO, the Additional Personnel or A&M shall be entitled to receive any compensation or benefits from the Company or to
participate in any Company compensation, benefits, incentive, insurance or other plan or program, other than as specifically set forth herein. 

  

	 	(iii)	The SA, the CFO and the Additional Personnel shall comply with the Company’s Worldwide Code of Business Conduct and other workplace standards requirements and standards as such
code of conduct and standards are supplied by the Company to the SA, the CFO and the Additional Personnel in writing. 

  

	 	e.	 Projections; Reliance; Limitation of Duties. You understand that the services to be rendered by the SA, the CFO, and the Additional Personnel may include the
preparation of projections and other forward-looking statements, and that numerous factors can affect the actual results of the Company’s operations, which may materially and adversely differ from those projections and other forward-looking
statements. In addition, the SA, CFO, and the Additional Personnel shall be relying on information provided by other members of the Company’s management in the preparation of those projections and other forward-looking statements;
provided, however, that if the SA, CFO or the Additional Personnel become aware of any material misstatements in such information, such individual shall promptly inform the Board and the CEO. Neither the SA, the CFO, the Additional
Personnel nor A&M makes any representation or guarantee that an appropriate restructuring proposal or strategic alternative can be formulated for the Company, that any restructuring proposal or strategic alternative presented to the Board will

  

 Alvarez & Marsal • 101 East 52nd Street – 6th Floor • New York, NY 10022 • Phone: 212.759.4433 • Fax: 212.759.5532 
  
 www.alvarezandmarsal.com 

 Philip A. Marineau 
 December 1, 2003 
  Page
 4
 of 12 
  

 
be more successful than all other possible restructuring proposals or strategic alternatives, that restructuring is the best course of action for the Company
or, if formulated, that any proposed restructuring plan or strategic alternative will be accepted by any of the Company’s creditors, shareholders and other constituents. Further, neither the SA, the CFO, the Additional Personnel, nor A&M
assumes responsibility for the selection of any restructuring proposal or strategic alternative that any such person assists in formulating and presenting to the Board; provided, however, that the SA, the CFO and the Additional
Personnel shall advise the Board and the CEO of A&M’s recommendations and professional judgments regarding such proposals, and the SA, the CFO and the Additional Personnel shall be responsible for implementation only of the proposal or
alternative approved by the Board and only to the extent and in the manner authorized and directed by the Board. 
  

	 	2.	Compensation 

  

	 	a.	A&M shall be paid by the Company for its services at current hourly billing rates. The hourly billing rate for the SA is $650, and the hourly billing rate for the CFO is $525.
The current hourly billing rates for the Additional Personnel, based on the position held by such A&M personnel in A&M, are: 

  

					
	 i.
	  	Managing Director	  	$475 - $650
	 ii.
	  	Director	  	$375 - $450
	 iii.
	  	Associate	  	$275 - $350
	 iv.
	  	Analyst	  	$200 - $250

 Such rates shall not increase during the first twelve months of this Agreement, and thereafter
shall be subject to adjustment annually at such time as A&M adjusts its rates generally. 
  

	 	b.	Reimbursement of Expenses. 

  

	 	(i)	In addition, A&M shall be reimbursed by the Company for the reasonable out-of-pocket expenses of the SA, the CFO and the Additional Personnel relating to this assignment, such
as travel, lodging, duplications, computer research, messenger and telephone charges. Out-of-pocket expenses for the CFO shall include temporary residence for Mr. Fogarty and his family in San Francisco which expenses shall be in accordance with the
Company’s policies for a temporary residence for a senior level executive. In addition, A&M shall be reimbursed by the Company for the reasonable fees and expenses of its counsel incurred in connection with the preparation and negotiation
of this Agreement (to a maximum of $10,000) and in connection with enforcement of this Agreement. All fees and expenses due to A&M shall be billed on a monthly basis or, at A&M’s reasonable discretion, more frequently.

  

 Alvarez & Marsal • 101 East 52nd Street – 6th Floor • New York, NY 10022 • Phone: 212.759.4433 • Fax: 212.759.5532 
  
 www.alvarezandmarsal.com 

 Philip A. Marineau 
 December 1, 2003 
  Page
 5
 of 12 
  

	 	(ii)	The SA, the CFO and the Additional Personnel shall comply with the Company’s standard travel policies applicable to senior-level personnel as set forth in writing to A&M by
the Company. The SA, the CFO and the Additional Personnel shall provide such reasonable supporting documentation with respect to the out-of-pocket expenses as requested by the Company. 

  

	 	c.	The Company shall promptly remit to A&M a retainer in the amount of $500,000, which shall be credited against any amounts due at the termination of this engagement or returned
upon the satisfaction of all obligations hereunder. 

  

	 	3.	Term 

  

	 	a.	The engagement shall commence as of the effective date hereof and continue for a period of eighteen months; provided however, that the engagement may be terminated by either the
Company without cause by giving thirty days written notice to A&M, or by A&M by giving thirty days written notice to the Company; provided, however, that if the Company terminates this Agreement for Cause (as defined below), or if A&M
terminates this Agreement for Good Reason (as defined below), then any such termination shall be effective immediately upon receipt of a written notice to that effect given by the terminating party to the other party. In the event of any such
termination, any fees and expenses due and owing to A&M shall be remitted promptly (including fees and expenses that accrued prior to but were invoiced subsequent to such termination). 

  
 For purposes of this Agreement: 
  
 “Cause” shall mean if (i) the SA or the CFO is convicted of,
admits guilt in a written document filed with a court of competent jurisdiction to, or enters a plea of nolo contendere to, an allegation of fraud, embezzlement, misappropriation or any felony; or (ii) the SA, or the CFO willfully disobeys a lawful
direction of the Board; and 
  
 “Good Reason” shall
mean the direction by the CEO or Board to perform or not perform some act the performance or non-performance of which would result in the violation of applicable law or a filing of a petition under Chapter 11 of the United States Bankruptcy Code in
respect of the Company unless within 45 days thereafter (or, if sooner, prior to the date on which a plan of reorganization is confirmed or the case is converted to one under Chapter 7), the Company has obtained judicial authorization to continue
the engagement on the terms herein pursuant to an order which has become a final, nonappealable order. 
  

 Alvarez & Marsal • 101 East 52nd Street – 6th Floor • New York, NY 10022 • Phone: 212.759.4433 • Fax: 212.759.5532 
  
 www.alvarezandmarsal.com 

 Philip A. Marineau 
 December 1, 2003 
  Page
 6
 of 12 
  

	 	b.	Upon the completion of the Phase One Review, the Company and A&M shall review the results of the Phase One Review and shall negotiate such modifications to this Agreement,
including an incentive or other fee tied to value creation and the terms on which such fee shall be measured and paid, as are mutually acceptable to the Company and A&M. 

  

	 	4.	No Audit, Duty to Update. 

  
 It is understood that the SA, the CFO, the Additional Personnel and A&M are not being requested to perform an audit, review or compilation, or any
other type of financial statement reporting engagement that is subject to the rules of the AICPA, SEC or other state or national professional or regulatory body. They are entitled to rely on the accuracy and validity of the data disclosed to them or
supplied to them by employees and representatives of the Company. The SA, the CFO, the Additional Personnel and A&M are under no obligation to update the data submitted to them or review any other areas unless specifically requested by the Board
to do so; provided, however, that if the SA, CFO or the Additional Personnel become aware of any material misstatements in the information, such individual shall promptly inform the Board and the CEO. 
  

	 	5.	No Third Party Beneficiary. 

  
 The Company acknowledges that all advice (written or oral) given by A&M, the SA, the CFO or the Additional Personnel to the Company in connection with
this engagement is intended solely for the benefit and use of the Company. The Company agrees that no such advice shall be used for any other purpose or reproduced, disseminated, quoted or referred to at any time in any manner or for any purpose
other than relating to: (a) performing and completing the tasks set forth in clauses 1(b) and 1(c) above; (b) advising the Board and the CEO, (c) implementing and accomplishing the operational and/or financial restructuring of the Company and (d) as
otherwise required by applicable law or by any contract or agreement to which the Company is a party including loan agreements and trust indentures. 
  

	 	6.	Conflicts. 

  
 A&M is not currently aware of any relationship that would create a conflict of interest with the Company or those parties-in-interest of which you
have made us aware. The Company confirms that A&M has disclosed to LS&CO., and that LS&CO. has acknowledged and accepted, that A&M has or has had relationships with Warnaco, Inc., Galey & Lord Inc. and Spiegel Inc./Eddie Bauer.
Because A&M is a consulting firm that serves clients on an international basis in numerous cases, both in and out of court, it is possible that A&M may have rendered services to or have business associations with other entities or people
which had or have or may have relationships with the Company, including creditors of the Company. In the event you accept the terms of this engagement, A&M shall not represent, and A&M has not represented, the interests of any such entities
or people in connection with this matter. 
  

 Alvarez & Marsal • 101 East 52nd Street – 6th Floor • New York, NY 10022 • Phone: 212.759.4433 • Fax: 212.759.5532 
  
 www.alvarezandmarsal.com 

 Philip A. Marineau 
 December 1, 2003 
  Page
 7
 of 12 
  

	 	7.	Confidentiality / Non-Solicitation. 

  
 a. The SA, the CFO, Additional Personnel and A&M shall keep as confidential all non-public information received from the Company in conjunction with
this engagement, except (i) as requested by the Company or its legal counsel or (ii) as required by legal proceedings; provided, however, that if such non-public information is disclosed, A&M shall give the Company at least five
business days’ notice prior to such disclosure. All obligations as to non-disclosure shall cease as to any part of such information to the extent that such information is or becomes public other than as a result of a breach of this provision.
A&M acknowledges and represents to the Company that it recognizes its obligations under applicable state and federal securities laws, including its obligation not to disclose material, nonpublic information to any person or other party not
subject to a written confidentiality agreement with the Company. 
  
 b. Except as specifically provided for in this letter, each of the parties hereto agree not to solicit or recruit any employees of the other party effective from the date of this Agreement and continuing for a period of two years subsequent
to the termination of this engagement. The parties hereto agree that should the Company extend offers of employment to any A&M employee (other than as specifically provided for in this Agreement), unless prior consent is obtained from A&M,
and should such an offer be accepted, A&M shall be entitled to a payment from the Company based upon such individual’s hourly rates multiplied by an assumed annual billing of 2,000 hours as a reasonable estimate of liquidated damages. This
payment would be payable at the time of the individual’s acceptance of employment from the Company. 
  

	 	8.	Indemnification. 

  
 The Company shall indemnify the SA and the CFO to the same extent as the most favorable indemnification it extends to its officers or directors, whether
under the Company’s bylaws, its certificate of incorporation, by contract or otherwise, and no reduction or termination in any of the benefits provided under any such indemnities shall affect the benefits provided to the SA or the CFO. The SA
and the CFO shall be covered as an officer under the Company’s existing or replacement director and officer liability insurance policy, including tail coverage for a period of not less than two years following the date of the termination of
such officer’s services hereunder. The provisions of this section 8 are in the nature of contractual obligations and no change in applicable law or the Company’s charter, bylaws or other organizational documents or policies shall affect
the SA’s or the CFO’s rights hereunder; provided, however, that nothing in this paragraph shall require the Company to take any action that is contrary to applicable law. The attached indemnity provisions are incorporated
herein and the termination of this Agreement or the engagement shall not affect those provisions, which shall survive termination. 
  

 Alvarez & Marsal • 101 East 52nd Street – 6th Floor • New York, NY 10022 • Phone: 212.759.4433 • Fax: 212.759.5532 
  
 www.alvarezandmarsal.com 

 Philip A. Marineau 
 December 1, 2003 
  Page
 8
 of 12 
  

	 	9.	Notices. 

  
 Any notices under sections 3 or 8 of this Agreement shall be documented and delivered in writing, by mail, courier delivery, facsimile transmission or
e-mail addressed to these addresses: 
  
 if to A&M:

  
                James P. Fogarty 
                Managing Director 
                Alvarez & Marsal, Inc. 
                101 East 52nd
Street 
                6th Floor 
                New York, NY 10022 
  
 if to LS&CO. 
  
                Chief Executive Officer 
                Levi Strauss & Co. 
                1155 Battery Street 
                San Francisco, CA 94111 
  
 with copy to: 
  
                General Counsel 
                Levi Strauss & Co. 
                1155 Battery Street 
                San Francisco, CA 94111 
  
  
 These addresses may be changed by delivery of a written notice to the other party. Notices given in the manner provided by this section 9 shall be considered “given” two business days after deposit in the mail or the first
business day after the date of delivery to a courier or by facsimile transmission or e-mail (receipt in each case confirmed), as the case may be. 
  

	 	10.	Miscellaneous. 

  
 This Agreement shall (together with the attached indemnity provisions) be: (a) governed and construed in accordance with the laws of the State of New
York, regardless of the laws that might otherwise govern under applicable principles of conflict of laws thereof; (b) incorporates the entire understanding of the parties with respect to the subject matter thereof; and (c) may not be amended or
modified except in writing executed by each of the signatories hereto. The Company and A&M agree to waive trial by jury in any action, proceeding or counterclaim brought by or on behalf of the parties hereto with respect to any matter relating
to or arising out of the performance or non-performance of the Company or A&M hereunder. 
  

 Alvarez & Marsal • 101 East 52nd Street – 6th Floor • New York, NY 10022 • Phone: 212.759.4433 • Fax: 212.759.5532 
  
 www.alvarezandmarsal.com 

 Philip A. Marineau 
 December 1, 2003 
  Page
 9
 of 12 
  

 A&M shall not use any Company trademarks or logos in, or identify the Company as a customer in,
any marketing, promotional, advertising, investment or other material or websites, without first obtaining the Company’s prior written consent or otherwise in connection with press releases or other public communications made in association
with the Company, it being understood that A&M may identify in its own external communication materials, and describe its engagement, to the extent disclosed by the Company in any press release or SEC filings by the Company. A&M and the
Company shall cooperate in preparation of a press release relating to their entry into this Agreement. 
  
 If the foregoing is acceptable to you, kindly sign the enclosed copy to acknowledge your agreement with its terms. 
  

			
	 Very truly yours,

	
	 Alvarez & Marsal, Inc.

		
	 By:
	 	  

	 	 	 James P. Fogarty

	 	 	 Managing Director

  

			
	 Accepted and Agreed:

	
	 Levi Strauss & Co

		
	 By:
	 	  

	 	 	 Philip A. Marineau

	 	 	 President and Chief Executive Officer

  

 Alvarez & Marsal • 101 East 52nd Street – 6th Floor • New York, NY 10022 • Phone: 212.759.4433 • Fax: 212.759.5532 
  
 www.alvarezandmarsal.com 

 Philip A. Marineau 
 December 1, 2003 
  Page
 10
 of 12 
  

 INDEMNIFICATION AGREEMENT 
  
 This indemnity is made part of an agreement, dated December 1, 2003 (which together with any renewals, modifications or extensions thereof,
is herein referred to as the “Agreement”) by and between Alvarez & Marsal, Inc. (“A&M”) and Levi Strauss & Co. (the “Company”), for services to be rendered to the Company by A&M. 
  
 A. The Company agrees to indemnify and hold harmless each of A&M, its shareholders,
employees, agents, representatives and subcontractors (each, an “Indemnified Party” and collectively, the “Indemnified Parties”) against any and all losses, claims, damages, liabilities, penalties, obligations and expenses,
including the costs for counsel or others (including employees of A&M, based on their then current hourly billing rates) in investigating, preparing or defending any action or claim, whether or not in connection with litigation in which any
Indemnified Party is a party, or enforcing the Agreement (including these indemnity provisions), as and when incurred, caused by, relating to, based upon or arising out of (directly or indirectly) the Indemnified Parties’ acceptance of or the
performance or nonperformance of their obligations under the Agreement; provided, however, such indemnity shall not apply to any such loss, claim, damage, liability or expense to the extent it is found in a final judgment by a court of competent
jurisdiction (not subject to further appeal) to have resulted primarily and directly from such Indemnified Party’s gross negligence or willful misconduct. The Company also agrees that no Indemnified Party shall have any liability (whether
direct or indirect, in contract or tort or otherwise) to the Company for or in connection with the engagement of A&M, except to the extent for any such liability for losses, claims, damages, liabilities or expenses that are found in a final
judgment by a court of competent jurisdiction (not subject to further appeal) to have resulted primarily and directly from such Indemnified Party’s gross negligence or willful misconduct. The Company further agrees that it shall not, without
the prior consent of an Indemnified Party, settle or compromise or consent to the entry of any judgment in any pending or threatened claim, action, suit or proceeding in respect of which such Indemnified Party seeks indemnification hereunder
(whether or not such Indemnified Party is an actual party to such claim, action, suit or proceedings) unless such settlement, compromise or consent includes an unconditional release of such Indemnified Party from all liabilities arising out of such
claim, action, suit or proceeding; provided, however, that the Company may settle, compromise or consent to the entry of a judgment in any pending or threatened claim, action proceeding or investigation, without A&M’s consent,
if such settlement, compromise or consent does not include any payment by A&M or any admission or statement regarding A&M’s culpability or fault. 
  

B. These indemnification provisions shall be in addition to any liability which the Company may otherwise have to the Indemnified Parties. 
  
 C. If any action, proceeding or investigation is commenced to which any Indemnified Party
proposes to demand indemnification hereunder, such Indemnified Party shall notify the Company with reasonable promptness; provided, however, that any failure by such Indemnified Party to notify the Company shall not relieve the Company from its
obligations hereunder, except to the extent that such failure shall have actually prejudiced the defense of such action. The Company shall promptly pay expenses reasonably incurred by any Indemnified Party in defending, participating in, or settling
any action, proceeding or investigation in which such 
  

 Alvarez & Marsal • 101 East 52nd Street – 6th Floor • New York, NY 10022 • Phone: 212.759.4433 • Fax: 212.759.5532 
  
 www.alvarezandmarsal.com 

 Philip A. Marineau 
 December 1, 2003 
  Page
 11
 of 12 
  

 Indemnified Party is a party or is threatened to be made a party or otherwise is participating in by reason of the
engagement under the Agreement, upon submission of invoices therefore, whether in advance of the final disposition of such action, proceeding, or investigation or otherwise. Each Indemnified Party hereby undertakes, and the Company hereby accepts
its undertaking, to repay any and all such amounts so advanced if it shall ultimately be determined that such Indemnified Party is not entitled to be indemnified therefor. If any such action, proceeding or investigation in which an Indemnified Party
is a party is also against the Company, the Company may, in lieu of advancing the expenses of separate counsel for such Indemnified Party, provide such Indemnified Party with legal representation by the same counsel who represents the Company,
provided such counsel is reasonably satisfactory to such Indemnified Party, at no cost to such Indemnified Party; provided, however, that if such counsel or counsel to the Indemnified Party shall determine that due to the existence of actual or
potential conflicts of interest between such Indemnified Party and the Company such counsel is unable to represent both the Indemnified Party and the Company, then the Indemnified Party shall be entitled to use separate counsel of its own choice,
and the Company shall promptly advance its reasonable expenses of such separate counsel upon submission of invoices therefor. Nothing herein shall prevent an Indemnified Party from using separate counsel of its own choice at its own expense. The
Company shall be liable for any settlement of any claim against an Indemnified Party made with the Company’s written consent, which consent shall not be unreasonably withheld. 
  
 D. In order to provide for just and equitable contribution if a claim for indemnification pursuant to these indemnification provisions is
made but it is found in a final judgment by a court of competent jurisdiction (not subject to further appeal) that such indemnification may not be enforced in such case, even though the express provisions hereof provide for indemnification, then the
relative fault of the Company, on the one hand, and the Indemnified Parties, on the other hand, in connection with the statements, acts or omissions which resulted in the losses, claims, damages, liabilities and costs giving rise to the
indemnification claim and other relevant equitable considerations shall be considered; and further provided that in no event shall the Indemnified Parties’ aggregate contribution for all losses, claims, damages, liabilities and expenses with
respect to which contribution is available hereunder exceed the amount of fees actually received by the Indemnified Parties pursuant to the Agreement. No person found liable for a fraudulent misrepresentation shall be entitled to contribution
hereunder from any person who is not also found liable for such fraudulent misrepresentation. 
  
 E. In the event the Company and A&M seek judicial approval for the assumption of the Agreement or authorization to enter into a new engagement agreement pursuant to either of which A&M would continue to be
engaged by the Company, the Company shall promptly pay expenses reasonably incurred by the Indemnified Parties, including reasonable attorneys’ fees and expenses, in connection with any motion, action or claim made either in support of or in
defense of any objections to any such retention or authorization, whether in advance of or following any judicial disposition of such motion, action or claim, promptly upon submission of invoices and regardless of whether such retention or
authorization is approved by any court; provided, however, that to the extent such fees remain unpaid prior to the filing by the Company of a petition under Chapter 7 or Chapter 11 of the United States Bankruptcy Code, no such payment
shall be made if not approved by the court of competent jurisdiction. The Company will also promptly pay the Indemnified Parties for any expenses reasonable incurred by them, including attorneys’ fees and expenses, in seeking payment of all
amounts owed it under the 

  

 Alvarez & Marsal • 101 East 52nd Street – 6th Floor • New York, NY 10022 • Phone: 212.759.4433 • Fax: 212.759.5532 
  
 www.alvarezandmarsal.com 

 Philip A. Marineau 
 December 1, 2003 
  Page
 12
 of 12 
  

 Agreement (or any new engagement agreement) whether through submission of a fee application or in any other manner,
without offset, recoupment or counterclaim, whether as a secured claim, an administrative expense claim, an unsecured claim, a prepetition claim or a postpetition claim. 
  
 F. Neither termination of the Agreement nor termination of A&M’s engagement nor, to the extent permitted by law, the filing by the
Company of a petition under Chapter 7 or Chapter 11 of the United States Bankruptcy Code (nor the conversion of an existing case to one under a different chapter), shall affect these indemnification provisions, which shall hereafter remain operative
and in full force and effect. 
  

									
	 Levi Strauss & Co.
	 	 	 	 Alvarez & Marsal, Inc.

					
	By:	 	 	 	 	 	By:	 	 
	 	 	
	 	 	 	 	 	

	 Philip A. Marineau
 President and Chief Executive Officer
	 	 	 	 James P. Fogarty
 Managing Director

  

 Alvarez & Marsal • 101 East 52nd Street – 6th Floor • New York, NY 10022 • Phone: 212.759.4433 • Fax: 212.759.5532 
  
 www.alvarezandmarsal.com

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