Document:

Form of Performance Share Agreement

 Exhibit 10.9 
 Award No.          

THE GAP, INC. 
 PERFORMANCE SHARE AGREEMENT 
 The Gap, Inc. (the “Company”) hereby grants to
             (the “Employee”), an award (the “Award”) of Performance Shares, which represent the right to receive shares of the Company’s common stock, $0.05
par value (the “Shares”) subject to the fulfillment of performance and vesting conditions and the other conditions set forth in the attached Appendix A and Appendix B. This Award is granted pursuant to The Gap, Inc. 2011 Long-Term
Incentive Plan (the “Plan”) and is subject to all of the terms and conditions contained in this Performance Share Agreement including the terms and conditions contained in the attached Appendix A and Appendix B (collectively, the
“Agreement”). The date of this Agreement is              (“Date of Grant”). Subject to the provisions of Appendix A, Appendix B and of the Plan, the principal
features of this Award are as follows: 
  

					
		 	Number of Performance Shares at Threshold Performance:             
		
		 	Number of Performance Shares at Target Performance:             
			
		 	Maximum Number of Performance Shares:	 	            
			
		 	Date(s) Performance Shares	 	             if Performance Goals are met
		 	Scheduled to Vest:	 	

 Performance Goals: The actual number of Shares to be earned under this Award will be determined based on
(1) attainment of annual, or other period, division or corporate earnings goals over 3 years, and (2) achievement of Company cumulative earnings goals for the same 3 years. In both cases, the earnings goals and the extent to which they
have been achieved will be determined by the Compensation and Management Development Committee (the “Committee”) of the Board of Directors, in its sole discretion. In addition, the number of Shares earned under this Award may be further
reduced at the Committee’s discretion. 
 Date(s) Performance Shares Scheduled to Vest: To the extent that the Performance Goals
described above are achieved and Shares are earned, as determined and certified by the Committee, then (1) 50% of the earned Shares shall be paid on the date in
             that the Committee certifies attainment (the “Certification Date”), and (2) the remaining 50% of the earned Shares shall vest on the one year
anniversary of the Certification Date. Notwithstanding the foregoing, if the Employee is demoted to a lower Company salary grade before the end of fiscal year             ,
Employee shall forfeit his or her Award. 
 As provided in the Plan and in this Agreement, this Award may terminate before the scheduled vest
date(s) of the Performance Shares. For example, if Employee’s Termination of Service occurs before the date this Award vests, this Award will terminate at the same time as such termination. Important additional information on vesting and
forfeiture of the Performance Shares covered by this Award including those due to changes in employment is contained in paragraphs 3 through 6 of Appendix A. 
 IN WITNESS WHEREOF, the Company and the Employee have executed this Agreement, in duplicate, to be effective as of the date first above written. 

 

			
		 	THE GAP, INC.
		
	Dated:                     	 	  

 My signature below indicates that I understand that this Award is 1) subject to all of the terms and conditions of this Agreement (including the attached Appendix A and Appendix B) and of the Plan, 2) not
considered salary, nor 

 is it a promise for future grants of Performance Shares, 3) not a term or condition of my employment with
the Company (or one of its Affiliates), and 4) made at the sole discretion of the Company. 
  

					
		 	EMPLOYEE
			
	Dated:                     	 	Signature:	 	  

			
		 	Address:	 	  

			
		 		 	  

			
		 		 	  

 APPENDIX A 
 TERMS AND CONDITIONS OF PERFORMANCE SHARES 
 1. Grant of Performance
Shares. The Company hereby grants to the Employee as a separate incentive that is not in lieu of any salary or other compensation for his or her services, an Award with respect to the number of Performance Shares set forth on page 1 of this
Agreement, subject to all the terms and conditions in this Agreement and the Plan. Employee understands and agrees that this Award does not guarantee any future Performance Share grants and that grants are made at the sole discretion of the Company.

 2. Company’s Obligation to Pay. Unless and until a Performance Share has vested in accordance with the vesting
schedule set forth on the first page of this Agreement, the Employee will have no right to payment of a Share with respect to the Performance Share. Prior to actual payment of any Shares pursuant to vested Performance Shares, each Performance Share
represents an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company. No Shares shall be issued until after the Performance Shares have vested in accordance with the terms hereof and shall be issued in
accordance with the settlement terms hereof. 
 3. Vesting of Performance Shares and Issuance of Shares. 

 

	 	(a)	Subject to paragraphs 4, 5 and 6, the Performance Shares subject to this Agreement will vest (as to the number of Performance Shares determined based on the extent to
which the Performance Goals have been achieved) on the dates shown on the first page of this Agreement (each a “Vesting Date”), but in each case, only if the Employee has been continuously employed by, or providing consulting services to,
the Company or one of its Affiliates from the date of this Award until the applicable Vesting Date of the Performance Shares. If Employee has had a Termination of Service prior to such date(s), the Award shall terminate as set forth in paragraph 6.

  

	 	(b)	Subject to earlier issuance pursuant to paragraph 4 or 5, upon each Vesting Date, one Share shall be issued for each Performance Share that vests on such Vesting Date,
subject to the terms and provisions of the Plan and this Agreement. 

  

	 	(c)	If the Committee, in its discretion, accelerates the vesting of the balance, or some lesser portion of the balance, of the Performance Shares, the payment of such
accelerated Performance Shares nevertheless shall be made at the same time or times as if such Performance Shares had vested in accordance with the vesting schedule set forth on the first page of this Agreement (whether or not the Employee remains
employed by the Company or by one of its Affiliates as of such date(s)). 

  

	 	(d)	Notwithstanding the foregoing, if the Committee, in its discretion, accelerates the vesting of the balance, or some lesser portion of the balance, of the Performance
Shares in connection with Employee’s “separation from service” within the meaning of Section 409A) and if (i) Employee is subject to U.S. income tax, and (ii) Employee is a “specified employee” within the
meaning of Section 409A at the time of such separation from service, then any such accelerated Performance Shares otherwise payable within the six (6) month period following Employee’s separation from service instead will be paid on
the date that is six (6) months and one (1) day following the date of Employee’s separation from service, unless the Employee dies following his or her separation from service prior to such time, in which case, the Performance Shares
will be paid to the Employee’s estate (or beneficiary) upon his or her death, subject to paragraph 7. Thereafter, such Performance Shares shall continue to be paid in accordance with the requirements of paragraph 3(c). For purposes of this
Agreement, “Section 409A” means Section 409A of the U.S. Internal Revenue Code of 1986, as amended, and any final Treasury Regulations and other Internal Revenue Service guidance thereunder, as each may be amended from time to time
(“Section 409A”). This paragraph 3(d) shall only apply to the extent necessary to avoid taxation under Section 409A. 

  

	 	(e)	It is the intent of this Agreement to comply with the requirements of Section 409A so that none of the Performance Shares granted under this Agreement or the
Shares issued in payment thereof will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply. 

 

	 	(f)	No fractional Shares shall be issued under this Agreement. 

 4. Death. In the event of the Employee’s death after the end of the
applicable performance period, the remaining Performance Shares shall automatically and with no exercise of discretion by the Committee become fully vested, and shall be settled, on the date of death to the extent that the Performance Goals have
been achieved as of the date of death. 
 5. Retirement. 

(a) Except as would result in taxation under Section 409A, a portion of the remaining Performance Shares
automatically and with no exercise of discretion by the Committee shall become fully vested, and shall be settled, and applicable taxes shall be withheld by the Company or its designated Affiliate in accordance with paragraph 7 at the following
time: (i) if the Performance Goals have been achieved before the Employee becomes eligible for Retirement (as defined below), on the later of the date the Employee becomes eligible for Retirement or November 15th of the year in which Employee becomes eligible for Retirement; or
(ii) if Employee becomes eligible for Retirement before the Performance Goals are achieved, on the later of the date the Performance Goals are achieved or November 15th of the year in which the Performance Goals are achieved. The portion of the remaining Performance Shares that vests
and is settled in accordance with the preceding sentence shall have an aggregate market value sufficient to pay any taxes required to be withheld by the Company (or an Affiliate) solely as a result of (a) the Employee’s becoming eligible
to receive shares of common stock upon Retirement pursuant to paragraph 5(b), and (b) the vesting and settlement of such portion of the remaining Performance Shares. 
 (b) In the event of Employee’s Retirement (as defined below) after the end of the applicable performance period that, in the case of U.S. taxpayers, qualifies as a “separation from service”
within the meaning of Section 409A, the remaining Performance Shares automatically and with no exercise of discretion by the Committee shall become fully vested, and shall be settled, on the date of Retirement, to the extent that the
Performance Goals have been achieved on or before the date of Retirement. If (i) Employee is subject to U.S. income tax, and (ii) Employee is a “specified employee” within the meaning of Section 409A at the time of
Employee’s Retirement then the payment of such accelerated Performance Shares will not be made until the date six (6) months and one (1) day following the date of Employee’s Retirement, unless the Employee dies following such
Retirement prior to such time, in which case, the Performance Shares will be paid to the Employee’s estate upon his or her death, subject to paragraph 7. 
 For purposes of this Agreement, “Retirement” shall mean Employee’s Termination of Service for any reason (other than due to Employee’s misconduct as determined by the Company in its
sole discretion) after Employee has attained age 60 and completed at least five (5) years of continuous service as an Employee of the Company or an Affiliate. 
 6. Termination of Service. Notwithstanding any contrary provision of this Agreement, the balance of Performance Shares that have not vested pursuant to paragraphs 3, 4 or 5 will be forfeited and
cancelled automatically at the time of the Employee’s Termination of Service. For purposes of this Agreement, Termination of Service shall have the meaning set forth in the Plan and be determined by reference to Employee’s active service
without reference to any other agreement, written or oral, including Employee’s contract of employment (if any). Thus, in the event of Employee’s Termination of Service (whether or not in breach of local labor laws), unless otherwise
expressly provided for under this Agreement, Employee’s right to vest in the Performance Shares under the Plan, if any, will terminate effective on Employee’s Termination of Service and will not be extended by any notice period mandated
under local law (e.g., active employment would not include a period of “garden leave” or similar period pursuant to local law); the Committee shall have the exclusive discretion to determine when the Employee has incurred a
Termination of Service. 
 7. Withholding Taxes. Regardless of any action the Company or Employee’s employer (the
“Employer”) takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related items related to the Employee’s participation in the Plan and legally applicable to the Employee (“Tax-Related
Items”), the Employee acknowledges and agrees that the ultimate liability for all Tax-Related Items legally due by the Employee is and remains the Employee’s responsibility and may exceed the amount actually withheld by the Company or the
Employer. Employee further acknowledges that the Company and/or the Employer (a) makes no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Performance Shares, including the
grant or vesting of the Performance Shares, the subsequent sale of Shares acquired under the Plan and the receipt of dividends, if any; and (b) does not commit to and is under no obligation to structure the terms of the Performance Shares or
any aspect of the Performance Shares to reduce or eliminate the Employee’s liability for Tax-Related Items, or achieve any particular tax result. Further, if Employee has become subject to tax in more than one jurisdiction between the date of
grant and the date of any relevant taxable event, Employee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. 

 No payment will be made to the Employee (or his or her estate) for the Performance Shares
unless and until satisfactory arrangements (as determined by the Committee) have been made by the Employee with respect to the payment of any Tax-Related Items obligations of the Company and/or the Employer with respect to the Performance Shares. In
this regard, the Employee authorizes the Company and/or the Employer, or their respective agents, at their discretion, to satisfy the obligations with regard to all Tax-Related Items by one or a combination of the following: 

(a) withholding from Employee’s wages or other cash compensation paid to Employee by the Company or the Employer; or 

(b) withholding from proceeds of the sale of Shares acquired upon vesting of the Performance Shares, either through a voluntary sale or
through a mandatory sale arranged by the Company (on Employee’s behalf pursuant to this authorization); or 
 (c)
withholding in Shares to be issued upon vesting of the Performance Shares; or 
 (d) surrendering already-owned Shares having a
Fair Market Value equal to the Tax-Related Items that have been held for such period of time to avoid adverse accounting consequences. 
 If the obligation for Tax-Related Items is satisfied by withholding Shares, for tax purposes, the Employee is deemed to have been issued the full number of Shares subject to the Performance Shares,
notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items due as a result of the Employee’s participation in the Plan. The Employee shall pay to the Company or Employer any amount of
Tax-Related Items that the Company may be required to withhold or account for as a result of the Employee’s participation in the Plan that cannot be satisfied by one or more of the means previously described in this paragraph 7. The Employee
acknowledges and agrees that the Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares if Employee fails to comply with his or her obligations in connection with the Tax-Related Items. 

It is the Company’s current practice to withhold a portion of the Shares scheduled to be issued pursuant to vested Performance
Shares that have an aggregate market value sufficient to pay the Tax-Related Items. The Company will only withhold whole Shares and therefore the Employee also authorizes deduction without notice from salary or other amounts payable to the Employee
of cash in an amount sufficient to satisfy the Employer’s remaining tax withholding obligation. Notwithstanding the previous two sentences, the Employee, if the Company in its sole discretion so agrees, may elect to furnish to the Company
written notice, no more than 30 days and no less than 5 days in advance of a scheduled Vesting Date (or other required withholding event), of his or her intent to satisfy the tax withholding requirement by remitting the full amount of the tax
withholding to the Company on the scheduled Vesting Date (or other required withholding event). In the event that Employee provides such written notice and fails to satisfy the amounts required for the Tax-Related Items by the Vesting Date (or other
required withholding event), the Company shall satisfy the tax withholding requirement pursuant to the first two sentences of this paragraph. However, the Company reserves the right to withhold for Tax-Related Items pursuant to any means set forth
in this paragraph. 
 8. Vesting/ Foreign Taxes Due. If Employee is subject to tax in a country outside the U.S.
(“Foreign Country”) and if pursuant to the tax rules in such Foreign Country, Employee will be subject to tax prior to the date that Employee is issued Shares pursuant to this Agreement, the Committee, in its discretion, may accelerate
vesting and settlement of a portion of the Performance Shares to the extent necessary to pay the foreign taxes due (and any applicable U.S. income taxes due as a result of the acceleration of vesting and settlement) but only if such acceleration
does not result in taxation under Section 409A (as permitted under Treasury Regulation Section 1.409A-3(j)(4)(xi)). 

9. Beneficiary Designation. Any distribution or delivery to be made to the Employee under this Agreement will, if the Employee is
then deceased, be made to the Employee’s designated beneficiary to the extent such designation is valid under applicable law, or if no such beneficiary survives the Employee or no beneficiary is designated, the person or persons entitled to
such distribution or delivery under the Employee’s will or, to the executor of his or her estate. In order to be effective, a beneficiary designation must be made by the Employee in a form and manner acceptable to the Company and permitted by
the Company. Any transferee must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or
regulations pertaining to said transfer. 
 10. Conditions to Issuance of Shares. The Shares deliverable to the Employee
on the Vesting Date(s) may be either previously authorized but unissued Shares or issued Shares that have been reacquired by the Company. The Company shall not be required to issue any Shares hereunder so long as the Company reasonably anticipates
that such issuance will violate Federal securities law, foreign securities law or other applicable law; provided however, that in such event the Company shall issue such Shares at the earliest possible date at which the Company

 
reasonably anticipates that the issuance of the shares will not cause such violation. For purposes of the previous sentence, any issuance of Shares that would cause inclusion in gross income or
the application of any penalty provision or other provision of the Internal Revenue Code or foreign tax law shall not be treated as a violation of applicable law. 
 11. Rights as Stockholder. Neither the Employee nor any person claiming under or through the Employee will have any of the rights or privileges of a stockholder of the Company in respect of any
Performance Share unless and until Shares have been issued in accordance with paragraph 3, 4 or 5, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Employee. Except as provided in paragraph 12, after
such issuance, recordation, and delivery, the Employee will have all the rights of a stockholder of the Company with respect to voting such Shares and receipt of dividends and distributions on such Shares. 

12. Adjustments. The Award is subject to adjustment in accordance with Section 4.3 of the Plan. 

13. Nature of Grant. In accepting the grant of Performance Shares, the Employee acknowledges that: 

(a) the grant of the Performance Shares is voluntary and occasional and does not create any contractual or other right to receive future
grants of Performance Shares, or benefits in lieu of Performance Shares, even if Performance Shares have been granted repeatedly in the past; 
 (b) all decisions with respect to future Performance Share grants, if any, will be at the sole discretion of the Company; 
 (c) the Employee’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Employer to terminate his or her
employment relationship at any time; 
 (d) the Employee is voluntarily participating in the Plan; 

(e) the Performance Shares are an extraordinary item that do not constitute compensation of any kind for services of any kind rendered to
the Company or the Employer, and which are outside the scope of the Employee’s employment contract, if any; 
 (f) the
Performance Shares and the Shares subject to the Performance Shares are not intended to replace any pension rights or compensation; 
 (g) the Performance Shares are not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy,
dismissal, end of service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or the
Employer; 
 (h) the Performance Shares grant and the Employee’s participation in the Plan will not be interpreted to form
an employment contract or relationship with the Company or any Affiliate; 
 (i) the future value of the Shares is unknown and
cannot be predicted with certainty; further, neither the Company, nor any Affiliate is responsible for any foreign exchange fluctuation between local currency and the United States Dollar that may affect the value of the Performance Shares;

 (j) in consideration of the grant of the Performance Shares, no claim or entitlement to compensation or damages shall arise
from forfeiture of the Performance Shares resulting from Employee’s Termination of Service with the Employer (for any reason whatsoever and whether or not in breach of local labor laws) and the Employee irrevocably releases the Employer from
any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, the Employee shall be deemed irrevocably to have waived his or her entitlement to pursue such claim; and

 (k) the Performance Shares and the benefits under the Plan, if any, will not automatically transfer to another company in the
case of a merger, take-over or transfer of liability. 
 14. No Advice Regarding Grant. The Company is not providing any
tax, legal or financial advice, nor is the Company making any recommendations regarding the Employee’s participation in the Plan, or his or her acquisition or sale of the underlying Shares. The Employee is hereby advised to consult with his or
her own personal tax, legal and financial advisors regarding the Employee’s participation in the Plan before taking any action related to the Plan. 

 15. Data Privacy. The Employee hereby explicitly and unambiguously consents to
the collection, use and transfer, in electronic or other form, of the Employee’s personal data as described in this Agreement by and among, as applicable, the Company and its Affiliates for the exclusive purpose of implementing, administering
and managing the Employee’s participation in the Plan. 
 The Employee understands that the Company and its
Affiliates may hold certain personal information about the Employee, including, but not limited to, the Employee’s name, home address and telephone number, date of birth, social insurance number or other identification number, salary,
nationality, job title, any Shares or directorships held in the Company or any Affiliate, details of all Performance Shares or any other entitlement to Shares awarded, canceled, exercised, vested, unvested or outstanding in the Employee’s
favor, for the exclusive purpose of implementing, administering and managing the Plan (“Personal Data”). 

The Employee understands that Personal Data may be transferred to any third parties assisting in the implementation, administration
and management of the Plan, that these recipients may be located in the United States, the Employee’s country, or elsewhere, and that the recipient’s country may have different data privacy laws and protections than the Employee’s
country. The Employee understands that he or she may request a list with the names and addresses of any potential recipients of the Personal Data by contacting the Employee’s local human resources representative. The Employee authorizes the
recipients to receive, possess, use, retain and transfer the Personal Data, in electronic or other form, for the purposes of implementing, administering and managing the Employee’s participation in the Plan, including any requisite transfer of
such Personal Data as may be required to a broker or other third party with whom the Employee may elect to deposit any Shares received upon vesting of the Performance Shares. The Employee understands that Personal Data will be held only as long as
is necessary to implement, administer and manage the Employee’s participation in the Plan. The Employee understands that he or she may, at any time, view Personal Data, request additional information about the storage and processing of Personal
Data, require any necessary amendments to Personal Data or refuse or withdraw the consents herein, without cost, by contacting in writing the Employee’s local human resources representative. The Employee understands that refusal or withdrawal
of consent may affect the Employee’s ability to participate in the Plan or to realize benefits from the Performance Shares. For more information on the consequences of the Employee’s refusal to consent or withdrawal of consent, the
Employee understands that he or she may contact his or her local human resources representative. 
 16. Plan
Governs. This Agreement is subject to all the terms and provisions of the Plan. In the event of a conflict between one or more provisions of this Agreement and one or more provisions of the Plan, the provisions of the Plan will govern. Terms
used in this Agreement that are not defined in this Agreement will have the meaning set forth in the Plan. 
 17. Committee
Authority. The Committee will have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such
rules (including, but not limited to, the determination of whether or not any portion of the Performance Share has vested). All actions taken and all interpretations and determinations made by the Committee in good faith will be final and binding
upon the Employee, the Company and all other interested persons. No member of the Committee will be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Agreement. 

18. No Modification of At-Will Status. Employee understands and agrees that this Agreement does not impact in any way the right of
the Employer to terminate or change the terms of the employment of Employee at any time for any reason whatsoever, with or without good cause provided in accordance with applicable local law. Employee understands and agrees that unless contrary to
applicable local law or there is an employment contract in place providing otherwise, his or her employment is “at-will” and that either the Employer or Employee may terminate Employee’s employment at any time and for any reason
subject to applicable local law. Employee also understands and agrees that his or her “at-will” status (if applicable) can only be changed by an express written contract signed by an authorized officer of the Company and Employee if the
Employee’s employer is the Company. 
 19. Non-Transferability of Award. Except as otherwise herein provided, the
Performance Shares herein granted and the rights and privileges conferred hereby will not be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and will not be subject to sale under execution,
attachment or similar process. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of such Performance Share, or of any right or privilege conferred hereby, contrary to the provisions hereof, or upon any attempted sale
under any execution, attachment or similar process upon the rights and privileges conferred hereby, such Performance Share and the rights and privileges conferred hereby will immediately become null and void. 

 20. Binding Agreement. Subject to the limitation on the transferability of the
Performance Share contained herein, this Agreement shall be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the Employee and the Company. 

21. Addresses for Notices. Any notice to be given to the Company under the terms of this Agreement will be addressed to the
Company, in care of its Legal Department, at The Gap, Inc., Two Folsom, San Francisco, California 94105, or at such other address as the Company may hereafter designate in writing. Any notice to be given to the Employee will be addressed to the
Employee at the address set forth on the records of the Company. Any such notice will be deemed to have been duly given if and when enclosed in a properly sealed envelope, addressed as aforesaid, and deposited, postage prepaid, in a United States
post office or generally recognized international courier such as DHL or Federal Express. 
 22. Captions. Captions
provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Agreement. 

23. Agreement Severable. In the event that any provision in this Agreement will be held invalid or unenforceable, such provision
will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of this Agreement. 
 24. Modifications to the Agreement. This Agreement constitutes the entire understanding of the parties on the subjects covered. The Employee expressly warrants that he or she is not accepting this
Agreement in reliance on any promises, representations, or inducements other than those contained herein. Modifications to this Agreement or the Plan can be made only in an express written agreement executed by a duly authorized officer of the
Company. 
 25. Amendment, Suspension or Termination of the Plan. By accepting this Award, the Employee expressly
warrants that he or she has received a right to an equity based award under the Plan, and has received, read, and understood a description of the Plan. The Employee understands that the Plan is discretionary in nature and may be modified, suspended,
or terminated by the Company at any time. 
 26. Notice of Governing Law and Venue. This Agreement shall be governed by,
and construed in accordance with, the laws of the State of California without regard to principles of conflict of laws. For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this
grant or the Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of the State of California and agree that such litigation shall be conducted only in the courts of San Francisco County, California, or the federal courts
for the United States for the Northern District of California and no other courts, where this grant is made and/or to be performed. 
 27. Electronic Delivery. The Company may, in its sole discretion, decide to deliver any documents related to current or future participation in the Plan by electronic means. The Employee hereby
consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third party designated by the Company. 

28. Language. If the Employee has received this Agreement, including Appendices, or any other document related to the Plan
translated into a language other than English, and the meaning of the translated version is different than the English version, the English version will control. 
 29. Appendix B. Notwithstanding any provisions in this Agreement, the Performance Shares shall be subject to any special terms and conditions set forth in any Appendix to this Agreement for
Employee’s country. Moreover, if the Employee relocates to one of the countries included in Appendix B, the special terms and conditions for such country will apply to the Employee, to the extent Company determines that the application of such
terms and conditions is necessary or advisable in order to comply with local law or facilitate the administration of the Plan. As stated above, Appendix B constitutes part of this Agreement. 

30. Imposition of Other Requirements. The Company reserves the right to impose other requirements on Employee’s participation
in the Plan, on the Performance Shares and on any Shares acquired under the Plan, to the extent the Company determines it is necessary or advisable in order to comply with local law or facilitate the administration of the Plan, and to require the
Employee to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing. 
 * * *

 APPENDIX B 
 ADDITIONAL TERMS AND CONDITIONS OF THE GAP, INC. 
 PERFORMANCE SHARE
AGREEMENT 
 NON-U.S. EMPLOYEES 
 Terms and Conditions 
 This Appendix B includes special terms and conditions
applicable to Employee if Employee resides in one of the countries listed below. These terms and conditions are in addition to or, if so indicated, in place of, the terms and conditions set forth in the Agreement. Unless otherwise provided below,
capitalized terms used but not defined herein shall have the same meanings assigned to them in the Plan and the Agreement. 

Notifications 
 This Appendix also
includes country-specific information of which Employee should be aware with respect to his or her participation in the Plan. The information is based on the securities, exchange control and other laws in effect in the respective countries as of May
2011. Such laws are often complex and change frequently. As a result, the Company strongly recommends that Employee does not rely on the information noted herein as the only source of information relating to the consequences of Employee’s
participation in the Plan because the information may be out of date at the time that Employee vests in Performance Shares or sells Shares acquired under the Plan. 
 In addition, the information is general in nature and may not apply to Employee’s particular situation, and the Company is not in a position to assure Employee of any particular result. Accordingly,
Employee is advised to seek appropriate professional advice as to how the relevant laws in his or her country may apply to his or her situation. Finally, please note that if Employee is a citizen or resident of a country other than the country in
which he or she is currently working, or transfers employment after grant, the information contained in this Appendix may not be applicable to Employee. 
 CANADA 
 Settlement of Performance Shares. Notwithstanding any discretion or
anything to the contrary in the Plan, the grant of the Performance Shares does not provide any right for Employee to receive a cash payment and the Performance Shares will be settled in Shares only. 

The following provisions will apply to Employees who are residents of Quebec: 
 Language Consent. The parties acknowledge that it is their express wish that this Agreement, as well as all documents, notices and legal proceedings entered into, given or instituted pursuant
hereto or relating directly or indirectly hereto, be drawn up in English. 
 Les parties reconnaissent avoir exigé la redaction en
anglais de cette convention (“Agreement”), ainsi que de tous documents exécutés, avis donnés et procedures judiciaries intentées, directement ou indirectement, relativement à la présente
convention. 
 Authorization to Release and Transfer Necessary Personal Information. This provision supplements paragraph 15 of
Appendix A of the Agreement: 
 Employee hereby authorizes the Company and the Company’s representatives to discuss with and obtain
all relevant information from all personnel, professional or not, involved in the administration and operation of the Plan. Employee further authorizes the Company, its Affiliates and the Committee, which administers the Plan, to disclose and
discuss the Plan with their advisors. Employee further authorizes the Company and any Affiliate to record such information and to keep such information in Employee’s employee file. 

 FRANCE 
 Taxation of Award. This Award is not intended to be French tax-qualified. 
 Language
Consent. In accepting the grant of the Performance Shares and the Agreement which provides for the terms and conditions of the Performance Shares, Employee confirms that he or she has read and understood the documents relating to the
Performance Shares (the Plan and the Agreement), which were provided in the English language. Employee accepts the terms of these documents accordingly. 
 Consentement Relatif à la Langue Utilisée. En acceptant cette attribution gratuite d’actions et ce contrat qui contient les termes et conditions de cette
attribution gratuite d’actions, l’employé confirme ainsi avoir lu et compris les documents relatifs à cette attribution (le Plan et le Contrat d’Attribution) qui lui ont été communiqués en langue
anglaise. , L’employé en accepte les termes en connaissance de cause. 
 Exchange Control Information. Employee may
hold Shares acquired under the Plan outside of France provided he or she declares all foreign accounts, whether open, current, or closed, in his or her income tax return. Furthermore, Employee must declare to the customs and excise authorities any
cash or bearer securities he or she imports or exports without the use of a financial institution when the value of the cash or securities is equal to or exceeds €10,000 (for 2011). 
 HONG KONG 
 Securities Law Notice. The Performance Shares and Shares issued
upon vesting (if any) do not constitute a public offering of securities under Hong Kong law and are available only to Employees of the Company and its Affiliates. The Agreement, including this Appendix B, the Plan and other incidental communication
materials have not been prepared in accordance with and are not intended to constitute a “prospectus” for a public offering of securities under the applicable securities legislation in Hong Kong. Nor have the documents been reviewed by any
regulatory authority in Hong Kong. The Award is intended only for the personal use of each eligible Employee of the Company or its Affiliates and may not be distributed to any other person. If Employee is in any doubt about any of the contents of
the Agreement, including this Appendix B, or the Plan, Employee should obtain independent professional advice. 
 Vesting of Performance
Shares and Sale of Shares. In the event the Employee’s Performance Shares vest and Shares are issued to the Employee within six months of the date of grant, the Employee agrees that he or she will not dispose of any of such Shares prior to
the six-month anniversary of the date of grant. 
 INDIA 
 Tax Information. The amount subject to tax at vesting may be dependent upon a valuation of Shares from a Merchant Banker in India. The Company has no responsibility or obligation to obtain the most
favorable valuation possible nor obtain valuations more frequently than required under Indian tax law. 
 Exchange Control Obligations.
Employee understands that he or she must repatriate any proceeds from the sale of Shares acquired under the Plan and any dividends received in relation to the Shares to India and convert the proceeds into local currency within ninety
(90) days of receipt. Employee will receive a foreign inward remittance certificate (“FIRC”) from the bank where he or she deposits the foreign currency. Employee should maintain the FIRC as evidence of the repatriation of fund in the
event the Reserve Bank of India or the Employer requests proof of repatriation. 
 INDONESIA 

Exchange Control Information. If Employee remits proceeds from the sale of Shares into Indonesia, the Indonesian Bank through which the transaction
is made will submit a report on the transaction to the Bank of Indonesia for statistical reporting purposes. For transactions of US$10,000 or more, a description of the transaction must be included in the report. Although the bank through which the
transaction is made is required to make the report, Employee must complete a “Transfer Report Form.” The Transfer Report Form should be provided to Employee by the bank through which the transaction is made. 

 KOREA 
 Exchange Control Information. Exchange control laws require Korean residents who realize US$500,000 or more from the sale of Shares to repatriate the proceeds to Korea within 18 months of the sale.

 PEOPLE’S REPUBLIC OF CHINA 
 Mandatory Sale of Shares Upon Vesting. By accepting the Performance Shares, the Employee acknowledges and agrees that the immediate sale of the Shares issued upon the vesting of Performance Shares
is required unless the Company, in its sole discretion, determines otherwise. Such Shares will be transferred to a brokerage firm designated by the Company (the “Brokerage Firm”). The Brokerage Firm, on the Employee’s behalf, may
thereafter immediately sell the Shares at the prevailing market price pursuant to any process for the sale set forth by the Company, and deliver the proceeds less the Tax-Related Items and any broker fees, to the Company or its designee, which would
then remit the net proceeds to the Employee through the Company’s or Affiliate’s special purpose bank account in China. As a result of the immediate sale of Shares as set forth in this Appendix B, no Shares would be delivered to the
Employee, and the Employee would not have any resulting rights as a shareholder of the Company. 
 Special Administration in
China. The Employee’s ability to be issued Shares at vesting shall be contingent upon the Company or its Affiliate obtaining approval from the State Administration of Foreign Exchange (“SAFE”) for Employee’s
participation in the Plan (to the extent required as determined by the Company in its sole discretion) and the establishment of a SAFE-approved bank account. If at the time of vesting, SAFE approval has not been obtained, the Company may cancel this
award of Performance Shares with no liability, compensation or benefits in lieu of compensation due to Employee. Employee understands and agrees that he or she will be required to immediately repatriate the proceeds from the vesting/ immediate sale
of Shares to China. Employee further understands that such repatriation of proceeds may need to be effected through a special foreign exchange account established by the Company or Affiliate and Employee hereby consents and agrees that the proceeds
from the vesting/ immediate sale of Shares may be transferred to such special account prior to being delivered to Employee’s personal account. Furthermore, Employee understands that due to SAFE approval requirements, there may be delays in
delivering the proceeds to Employee, Employee will bear any exchange rate risk during the period between vesting and when the proceeds are delivered to him or her, Employee may be required to open a U.S. dollar bank account to receive the proceeds
and also Employee may be required to pay the Company or an Affiliate the taxes due at vesting prior to receiving the proceeds from vesting/ immediate sale of Shares. 
 Please note that these special administration procedures will not apply to non Chinese Nationals. 

The provisions above pursuant to which Employee agrees to sell all Shares issued to him or her immediately when the Shares are issued to him or her upon
vesting at the then current market price is intended to be a plan pursuant to Rule 10b5-1 of the U.S. Securities Exchange Act of 1934 to the extent Employee is subject to this Act. By signing the Agreement, Employee represents that he or she is
not aware of any material non-public information about the Company at the time he or she is signing the Agreement. 
 SINGAPORE

 Securities Law Notice. The grant of the Award is made in reliance on section 273(1)(f) of the Securities and
Futures Act (Cap. 289) (“SFA”) for which it is exempt from the prospectus and registration requirements under the SFA. 
 Director
Notification Obligation. If Employee is a director, associate director or shadow director (i.e., a non-director who has sufficient control so that the directors act in accordance with the directions and instructions of this individual) of the
Company’s local entity in Singapore, he or she is subject to notification requirements under the Singapore Companies Act. Some of these notification requirements will be triggered by Employee’s participation in the Plan. Specifically,
Employee is required to notify the local Singapore company when he or she acquires or disposes an interest in the Company, including when Employee receives Shares upon vesting of this Award and when Employee sells these Shares. The notification must
be in writing and must be made within two days of acquiring or disposing of any interest in the Company (or within two days of initially becoming a director, associate director or shadow director of the Company’s local entity in Singapore). If
Employee is unclear as to whether he or she is a director, associate director or shadow director of the 

 
Company’s local entity in Singapore or the form of the notification, he or she should consult with his or her personal legal advisor. 

UNITED KINGDOM 
 Settlement of
Performance Shares. Notwithstanding any discretion or anything to the contrary in the Plan, the grant of the Performance Shares does not provide any right for Employee to receive a cash payment and the Performance Shares will be settled in
Shares only. 
 Tax and National Insurance Contributions Acknowledgment. The following provision supplements paragraph 10 of the
Agreement: 
 Employee agrees that if Employee does not pay or the Employer or the Company does not withhold from Employee the full amount of
Tax-Related Items that Employee owes in connection with the vesting of the Award and/or the acquisition of Shares pursuant to the vesting of the Award, or the release or assignment of the Award for consideration, or the receipt of any other benefit
in connection with the Award (the “Taxable Event”) within ninety (90) days after the Taxable Event, or such other period specified in Section 222(1)(c) of the U.K. Income Tax (Earnings and Pensions) Act 2003, then the
amount that should have been withheld shall constitute a loan owed by Employee to the Employer, effective ninety (90) days after the Taxable Event. Employee agrees that the loan will bear interest at the official rate of HM Revenue and Customs
(“HMRC”) and will be immediately due and repayable by Employee, and the Company and/or the Employer may recover it at any time thereafter by withholding the funds from salary, bonus or any other funds due to Employee by the Employer, by
withholding in Shares issued upon vesting of the Award or from the cash proceeds from the sale of such Shares or by demanding cash or a cheque from Employee. Employee also authorizes the Company to withhold the transfer of any Shares unless and
until the loan is repaid in full. 
 Notwithstanding the foregoing, if Employee is an officer or executive director (as within the meaning of
Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), the terms of the immediately foregoing provision will not apply. In the event that Employee is an officer or executive director and Tax-Related Items are not collected
from or paid by Employee within ninety (90) days of the Taxable Event, the amount of any uncollected Tax-Related Items may constitute a benefit to Employee on which additional income tax and National Insurance contributions may be payable.
Employee will be responsible for reporting any income tax and National Insurance contributions due on this additional benefit directly to HMRC under the self-assessment regime. 
 * * *Form of Director Stock Unit Agreement and Stock Unit Deferral Election Form

 Exhibit 10.10 
 Grant No.          
 THE
GAP, INC. 
 DIRECTOR STOCK UNIT AGREEMENT 
 The Gap, Inc. (the “Company”) hereby grants to              (the “Director”), the number of Stock Units under the
Company’s 2011 Long-Term Incentive Plan (the “Plan”) indicated below. This award is subject to all of the terms and conditions contained in this Director Stock Unit Agreement (the “Agreement”), including the terms and
conditions contained in the attached Appendix A and the Plan. The date of this Agreement is
                            . Subject to the provisions of Appendix A and of the Plan, the
principal features of this award are as follows: 
  

			
	Date of Grant:        	  	            
		
	 Number of Stock Units:        
	  	            
		
	 Vesting of Stock Units (“Vesting
Schedule”):        
	  	100% of the Stock Units shall be immediately vested upon the Date of Grant.

 Your signature below indicates your agreement and understanding that this award is subject to all of the terms and conditions contained in Appendix A and the Plan. PLEASE BE SURE TO READ ALL OF
APPENDIX A AND THE PLAN, WHICH CONTAINS THE SPECIFIC TERMS AND CONDITIONS OF THIS AWARD. 
 IN WITNESS WHEREOF, the Company and the
Director have executed this Agreement, in duplicate, to be effective as of the day and year first above written. 
  

									
		 		 		 	THE GAP, INC.	 	
					
	Date:                     	 		 		 	  
	 	

 My signature below indicates that I understand that this award is subject to all of the terms and conditions of
this Agreement (including the attached Appendix A) and of the Plan. 
  

											
	 	 	 	 	 	 	DIRECTOR	 	 
					
	Dated:                     	 		 		 	  
	 	
						
		 		 		 	Address:	 	  
	 	
					
		 		 		 	  
	 	
					
		 		 		 	  
	 	

 APPENDIX A 
 TERMS AND CONDITIONS OF STOCK UNIT GRANT 
 1. Grant of Stock Units.
The Company hereby grants to the Director under the Plan the number of Stock Units indicated on the first page of this Agreement subject to the terms and conditions set forth in this Agreement and the Plan. 

2. Company’s Obligation to Pay. On any date, a Stock Unit has a value equal to the Fair Market Value of one Share. Unless and
until the Stock Units have vested in accordance with the Vesting Schedule set forth on the first page of this Agreement, the Director will have no right to payment of the Stock Units. Prior to actual payment of any vested Stock Units, Stock Units
represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company. 
 3.
Payment. 
 (a) General Rule. Vested Stock Units will be paid to the Director in full Shares (with the balance, if
any, in cash) as soon as practicable (but not more than ninety (90) days) following the date which is three (3) years from the Date of Grant, subject to paragraph 5. 
 (b) Election to Defer Payment. Notwithstanding paragraph 3(a), at the discretion of the Committee and in accordance with the Plan, Code Section 409A and such rules established by the
Committee, the Director may elect to further defer delivery of the proceeds due with respect to his or her vested Stock Units by properly completing and submitting a Stock Unit Deferral Election Form (the “Election Form”) to the Company in
accordance with the directions on the Election Form and the procedures established by the Committee. 
 (c) Termination of
Service. Notwithstanding paragraphs 3(a) and 3(b), in the event that the Director incurs a separation from service (within the meaning of Code Section 409A) for any reason, including, but not limited to, death, Disability, or Retirement,
the vested Stock Units will be paid to the Director (or in the event of the Director’s death, to his or her estate) as soon as practicable following the date of such separation from service, except as provided by paragraph 8, and in each case
subject to paragraph 5. 
 (d) Change in Control. Notwithstanding paragraphs 3(a) and 3(b), in order for the Committee to
determine that the deferral of delivery of the proceeds due with respect to any vested Stock Units will terminate on account of a change in control or other similar transaction or event, such change in control or other similar transaction or event
must constitute 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 (as determined in accordance with section 409A(a)(2)(A)(v) of the U.S. Internal Revenue Code of
1986, as amended and Treasury Regulation Section 1.409A-3(i)(5)). Upon such a termination of the deferral, the vested Stock Units will be paid to the Director as soon as practicable following the date of such change in control or other similar
transaction or event (subject to paragraph 5). 
 4. Death of Director. Any distribution or delivery to be made to
the Director under this Agreement will, if the Director is then deceased, be made to the Director’s designated beneficiary to the extent such designation is valid under applicable law. If the Director has not designated a then living
beneficiary, distributions and deliveries will be made to the administrator or executor of the Director’s estate. Any such administrator or executor must furnish the Company with (a) written notice of his or her status as transferee, and
(b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer. 
 5. Withholding of Taxes. The Director agrees that the Company will withhold a portion of the Shares scheduled to be issued pursuant to vested Stock Units that have an aggregate market value
sufficient to pay the federal, state and local income, employment and any other applicable taxes required to be withheld by the Company or its designated Affiliate, determined at minimum statutory withholding rates. The Company will only withhold
whole Shares and therefore the Director also authorizes deduction without notice from amounts payable to the Director in cash in an amount sufficient to satisfy the Company’s remaining tax withholding obligation. Notwithstanding the previous
two sentences, the Director, if the Company in its sole discretion so agrees, may elect to furnish to the Company written notice, no more than 30 days and no less than 5 days in advance of the date the

 
vested Stock Units are scheduled to be paid (in accordance with paragraph 3), of his or her intent to satisfy the tax withholding requirement by remitting the full amount of the tax withholding
to the Company on this date. In the event that Director provides such written notice and fails to satisfy the tax withholding requirement by the date the vested Stock Units are scheduled to be paid (in accordance with paragraph 3), the Company shall
satisfy the tax withholding requirement pursuant to the first two sentences of this section. 
 6. Rights as Stockholder.
Subject to paragraph 7, neither the Director nor any person claiming under or through the Director will have any of the rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until
certificates representing such Shares have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to the Director. After such issuance, recordation, and delivery, the Director will have all the rights
of a stockholder of the Company with respect to such Shares. 
 7. Dividend Equivalents. The Director shall be entitled
to receive Dividend Equivalents paid on Shares underlying the Stock Units. Any Dividends Equivalents automatically shall be deemed reinvested in Stock Units annually on each anniversary after the date of grant or, if earlier, the settlement of the
Stock Units (the “Dividend Equivalent Stock Units”). Dividend Equivalent Stock Units shall be subject to the same terms and conditions as the Stock Units, including any deferral election. 

8. Section 409A. Notwithstanding anything in the Plan or this Agreement to the contrary, if at the time of the
Director’s “separation from service” within the meaning of Section 409A, as determined by the Company other than due to the Director’s death (x) the Director is a “specified employee” within the meaning of
Section 409A at the time of such separation and (y) the payment of any vested Stock Units that become payable as a result of such separation will result in the imposition of additional tax under Section 409A if paid to the Director on
or within the six (6) month period following the Director’s separation from service, then the payment of such vested Stock Units will not be made until the date six (6) months and one day following the date of the Director’s
separation from service, subject to paragraph 5, unless the Director dies following his or her separation from service, in which case, the vested Stock Units will be paid in Shares to the Director’s estate upon his or her death, subject to
paragraph 5. It is the intent of this Agreement to comply with the requirements of Section 409A so that none of the Stock Units provided under this Agreement or Shares issuable thereunder will be subject to the additional tax imposed under
Section 409A, and any ambiguities herein will be interpreted to so comply. For purposes of this Agreement, “Section 409A” means Section 409A of the U.S. Internal Revenue Code of 1986, as amended, and any proposed, temporary or
final Treasury Regulations and Internal Revenue Service guidance thereunder, as each may be amended from time to time. 
 9.
No Effect on Service. The transactions contemplated hereunder and the vesting schedule set forth on the first page of this Agreement do not constitute an express or implied promise of continued service for any period of time. The terms of the
Director’s service shall not be affected by the grant of this award. 
 10. Address for Notices. Any notice to be
given to the Company under the terms of this Agreement must be addressed to the Company, in care of its Legal Department, at The Gap, Inc., Two Folsom, San Francisco, California 94105, or at such other address as the Company may hereafter designate
in writing. Any notice to be given to the Director will be addressed to the Director at the address set forth on the records of the Company. Any such notice will be deemed to have been duly given if and when enclosed in a properly sealed envelope,
addressed as aforesaid, and deposited, postage prepaid, in a United States post office. 
 11. Grant is Not Transferable.
Except as otherwise expressly provided herein, this grant, and the rights and privileges conferred hereby, may not be transferred, assigned, pledged, or hypothecated in any way (whether by operation of law or otherwise) and may not be subject to
sale under execution, attachment, or similar process. Upon any attempt to transfer, assign, pledge, hypothecate, or otherwise dispose of this grant, or any right or privilege conferred hereby, or upon any attempted sale under any execution,
attachment, or similar process, this grant and the rights and privileges conferred hereby immediately will become null and void. 
 12. Restrictions on Sale of Securities. The Shares issued as payment for vested Stock Units awarded under this Agreement shall be registered under the federal securities laws and shall be freely
tradable upon receipt. However, the Director’s subsequent sale of the Shares shall be subject to any market blackout-period that may be imposed by the Company and must comply with the Company’s insider trading policies, and any other
applicable securities laws. 

 13. Binding Agreement. Subject to the limitation on the transferability of this grant
contained herein, this Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors, and assigns of the Company and the Director. 

14. Additional Conditions to Issuance of Certificates for Shares. The Shares deliverable to the Director may be either previously
authorized but unissued Shares or issued Shares that have been reacquired by the Company. Solely for purposes of Delaware corporate law, par value for the Shares actually delivered to the Director for the Stock Units will be deemed satisfied by past
services rendered by the Director. The Company shall not be required to issue any Shares hereunder so long as the Company reasonably anticipates that such issuance will violate Federal securities law or other applicable law; provided however, that
in such event the Company shall issue such Shares at the earliest possible date at which the Company reasonably anticipates that the issuance of the Shares will not cause such violation. For purposes of the previous sentence, any issuance of Shares
that would cause inclusion in gross income or the application of any penalty provision or other provision of the Code shall not be treated as a violation of applicable law. 
 15. Plan Governs. This Agreement is subject to all terms and provisions of the Plan. In the event of a conflict between one or more provisions of this Agreement and one or more provisions of the
Plan, the provisions of the Plan will govern. Capitalized terms used and not defined in this Agreement will have the meaning set forth in the Plan. 
 16. Committee Authority. The Committee will have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation, and application of the Plan as
are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the determination of whether or not any Stock Units have vested). All actions taken and all interpretations and determinations made by the Committee
in good faith will be final and binding upon the Director, the Company, and all other interested persons. No member of the Committee will be personally liable for any action, determination, or interpretation made in good faith with respect to the
Plan or this Agreement. 
 17. Captions. Captions provided herein are for convenience only and are not to serve as a
basis for interpretation or construction of this Agreement. 
 18. Agreement Severable. In the event that any provision
in this Agreement will be held invalid or unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of this Agreement. 

19. Modifications to the Agreement. This Agreement constitutes the entire understanding of the Company and the Director on the
subjects covered, including the Director’s right to receive a grant of stock units under Section 9 of the Plan. The Director expressly warrants that he or she is not accepting this Agreement in reliance on any promises, representations, or
inducements other than those contained herein. Modifications to this Agreement or the Plan can be made only in an express written agreement executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in the Plan or
this Agreement, the Company reserves the right to revise this Agreement as it deems necessary or advisable, in its sole discretion and without the consent of the Director, to comply with Section 409A of the Code or to otherwise avoid imposition
of any additional tax or income recognition under Section 409A of the Code in connection with these Stock Units (including settlement or payment thereof). 
 20. Amendment, Suspension or Termination of the Plan. By accepting this award, the Director expressly warrants that he or she has received a right to an equity based award under the Plan, and has
received, read, and understood a description of the Plan. The Director understands that the Plan is discretionary in nature and may be modified, suspended, or terminated by the Company at any time. 

21. Notice of Governing Law. This grant of Stock Units shall be governed by, and construed in accordance with, the laws of the
State of California without regard to principles of conflict of laws. 
 *** 

 THE GAP, INC. 
 2011 LONG-TERM INCENTIVE PLAN 
 STOCK UNIT DEFERRAL ELECTION FORM

 Complete and return this Election Form if you want to defer the settlement (payment) of stock units granted to you under
The Gap, Inc. 2011 Long-Term Incentive Plan (the “Plan”). 
 Stock units that are granted to you under the Plan
(“Stock Units”) generally become payable as soon as practicable after the date which is three (3) years from the date of vesting (the “Original Payment Date”) in whole shares of common stock of The Gap, Inc. (the
“Company”), with the balance, if any, in cash. Stock Units are immediately one hundred percent (100%) vested upon the Date of Grant. The Committee (as defined in the Plan) permits you to defer the settlement of your Stock Units beyond
the Original Payment Date on a tax-deferred basis in accordance with the terms of the Plan. To achieve this favorable tax result, the amounts deferred will represent an unfunded and unsecured promise to pay on behalf of the Company. With respect to
any amounts that you defer, you will become a general, unsecured creditor of the Company, which means that your deferral remains subject to the claims of the Company’s creditors, and, if the Company’s assets are insufficient to pay all of
its creditors, you may not receive part or all of your deferral. 
 Please note that the Plan has been amended to comply with
Section 409A of the Internal Revenue Code (“Section 409A”). As a result, any deferral elections made with respect to Stock Units must comply with the requirements of Section 409A. This means that deferral elections can be
accepted and become effective only if the following requirements (the “Deferral Requirements”) are satisfied: (a) the deferral election must be made at least twelve (12) months before the Original Payment Date;
(b) the deferral election must defer the payment of the Stock Units for a period of not less than five (5) years from the Original Payment Date; and (c) the deferral election may not take effect until at least twelve (12) months
after the date on which the election is made. 
 Notwithstanding the foregoing and any election made hereunder, in accordance
with paragraph 3(c) of the Stock Unit Agreement applicable to your Stock Units, the vested Stock Units will be paid to you (or in the event of your death, to your estate) as soon as practicable following the date you incur a Termination of
Service for any reason, including, but not limited to, death, Disability, or Retirement (as such terms are defined in the Plan); provided, however, that payment will be made no earlier than six (6) months and one (1) day following the date
of termination to the extent necessary to comply with Section 409A. In addition, in accordance with paragraph 3(d), of the Stock Unit Agreement applicable to your Stock Units, the vested Stock Units will be paid to you (or in the event of
your death, to your estate) as soon as practicable following the date of certain changes in control of the Company or other similar events. 

I. PERSONAL INFORMATION (Please Print) 

 

	
	 Director
Name:                                        
                                         
               (the “Director”)

II. STOCK UNIT DEFERRAL ELECTION (Choose One) 
 Payment of the Stock Units indicated below will be made as soon as practicable following the date you choose below (the “Designated Payment Date”), provided that the Deferral Requirements are
satisfied. This means that your Designated Payment Date will be given effect only if (a) you complete and return this Election Form at least twelve (12) months before the Original Payment Date, and (b) the Designated Payment Date is
at least five (5) years from the Original Payment Date. As noted above, any payment will be made in the form of whole shares of Company common stock with the balance, if any, in cash. 

 

			
	        	  	I DO NOT wish to further defer the settlement (i.e., payment) of the Stock Units granted to me under the Plan on
             (insert year), past the “Original Payment Date” of
                    .
		
		  	OR
		
	        	  	I elect to defer the settlement (i.e., payment) of the Stock Units granted to me under the Plan in
             (insert year) until                     , 20
     (specify a date that is at least five (5) years from Original Payment Date of the Stock Units).

			
		  	OR
		
	         
	  	Until I notify the Company otherwise, I elect to defer the settlement of all Stock Units granted to me under the Plan on or after
                     (insert date of earliest award to be deferred) until the date that is
             years (must be at least five (5) years) from the Original Payment Date(s) applicable to such Stock Units.

IMPORTANT: Please note that if the Original Payment Date is within twelve (12) months of the date you complete and return
this Election Form then, due to Section 409A requirements, we cannot accept your deferral election and it will be deemed null and void. This means that payment of the Stock Units will be made as soon as practicable after the Original Payment
Date regardless of your deferral election. 
 Any amounts deferred will be taxable as ordinary income in the year paid. Please
seek advice from your professional tax advisor before making your deferral election. 
 III. DIRECTOR SIGNATURE 

I acknowledge that I have read and reviewed a copy of the Plan’s prospectus. I understand that my decision to defer the settlement of
Stock Units will make me only a general, unsecured creditor of the Company. I also understand that the amounts deferred will be taxable as ordinary income in the year paid. If the Company determines that it is required to withhold for any taxes,
including, but not limited to, income or employment taxes, prior to the date of deferred payout, I agree that, if I do not make other arrangements that are satisfactory to the Committee, in its sole discretion, the Company will withhold from the
amounts due to me. I also understand that, upon receipt of deferred payouts, in addition to federal taxes, I may owe taxes both (1) to the state where I resided at the time of making this election and, if different, (2) to the state where
I reside when I receive a deferred payout. 
 The Committee shall have the discretion to make all determinations and decisions
regarding this deferral election. To the extent the Committee determines that this election does not comply with applicable laws, now or in the future, this election shall be null and void. In such an event, amounts deferred shall be settled
(1) immediately if the Original Payment Date already has occurred, or (2) upon the Original Payment Date if in the future. 
 By signing this Election Form, I authorize implementation of the above instructions. I understand that the deferral elections that I have made on this Election Form are generally irrevocable and may not
be changed in the future except in accordance with the requirements of Section 409A and the procedures specified by the Committee. 
  

							
	DIRECTOR	 	
				
	Signed:	 	  
	  	Date:	 	  

		
	Agreed to and accepted:	 	
		
	THE GAP, INC.	 	
				
	By:	 	  
	  	Date:	 	  

				
	Title:	 	  
	  		 	

  
 2

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