Document:

EX-10.6

 Exhibit 10.6 

LEVI STRAUSS & CO. 

2016 EQUITY INCENTIVE PLAN 

PERFORMANCE VESTED 

RESTRICTED STOCK UNIT AWARD GRANT NOTICE 

Levi Strauss & Co. (the “Company”), pursuant to its 2016 Equity Incentive Plan (the “Plan”), hereby grants to
Participant a stock-settled Performance-vested Restricted Stock Unit Award, covering the number of performance-vested restricted stock units (the “PRSUs”) set forth below (the “Award”). This Award is evidenced by
and is subject to all of the terms and conditions of this Performance-vested Restricted Stock Unit Award Grant Notice (the “Grant Notice”), a Performance- vested Restricted Stock Unit Award Agreement (the “Award
Agreement”), the Plan, and the resolutions of the Board of Directors of the Company, dated [Date] (the “Board Resolutions”). This Award will be settled in shares of Common Stock only. 

 

			
	 Participant:
	  	
		
	 Employee ID:
	  	
		
	 Date of Grant:
	  	
		
	 Number of PRSUs at Target Performance (“Target PRSUs”):
	  	
		
	 Maximum Number of PRSUs:
	  	200% of the Target PRSUs
		
	 Performance Period:
	  	 Three-Year Period Comprised of Fiscal
 Years
[Year 1], [Year 2], [Year 3]

 Performance Goals: The actual number of PRSUs under this Award that will vest at the end of a three-year period will be
determined based on the level of achievement against the performance goals set forth in the Board Resolutions (the “Performance Goals”). In each case, the goals and the extent to which they have been achieved will be determined by
the Board of Directors, in its sole discretion. 
 Performance Vesting: To the extent that the Performance Goals described above are achieved and PRSUs
vest, as determined by the Board of Directors, then 100% of the earned PRSUs (which may range from zero to 200% of the Target PRSUs depending on achievement of the Performance Goals) shall vest on the date in [Year 3] that the Board of Directors
certifies attainment (the “Certification Date”), all subject to Continuous Service by Participant through the Certification Date, except as set forth in the Award Agreement. 

Additional Terms/Acknowledgements: The Participant, by receipt and acceptance of this Grant Notice, shall be deemed to have agreed to its terms and that this
Grant Notice, the Award Agreement and the Plan set forth the entire understanding between the Participant and the Company regarding the award of the PRSUs and supersede all prior oral and written agreements on that subject with the exception of
(i) awards previously granted and delivered to the Participant under the Plan, and (ii) the following agreements
only:                                       
     . 
  

			
	By:
                                         
                                   	  	Date:

 PERFORMANCE VESTED RESTRICTED
STOCK UNIT AWARD AGREEMENT 
 Pursuant to your Performance-vested Restricted
Stock Unit Award Grant Notice (the “Grant Notice”) and this Performance-vested Restricted Stock Unit Award Agreement (the “Award Agreement”), Levi Strauss & Co. (the “Company”) has granted
you stock-settled performance-vested restricted stock units under its 2016 Equity Incentive Plan (the “Plan”) covering the number of Common Stock equivalents (“PRSUs”) as indicated in your Grant Notice
(collectively, the “Award”). Defined terms not explicitly defined in this Award Agreement but defined in the Plan shall have the same definitions as in the Plan. 

The details of your Award are as follows: 

1. VESTING. Subject to the conditions and limitations contained herein, your Award shall vest as provided in your Grant Notice, provided
that vesting shall cease upon the termination of your Continuous Service except as otherwise stated herein. 
 (a) RETIREMENT. In the
event of your Retirement (as defined below) that occurs at least 12 months after the Date of Grant set forth in the Grant Notice, you will be deemed to have remained in Continuous Service through the Certification Date set forth in the Grant Notice
and shall be eligible to receive payout with respect to your PRSUs to the extent that the Performance Goals set forth in the Grant Notice have been achieved and certified by the Board on the Certification Date (as defined in the Grant Notice). 

Solely for purposes of this Section 1(a), “Retirement” shall mean your termination of Continuous Service for any reason (other
than due to your misconduct as determined by the Company in its sole discretion) after you have (i) attained age 60 and completed at least five (5) years of Continuous Service or (ii) attained age 55 and completed at least ten
(10) years of Continuous Service. 
 2. NUMBER OF PRSUs. The number of PRSUs subject to your Award is set forth in your Grant
Notice. 
 3. SETTLEMENT AMOUNT. Each PRSU represents the right to receive one (1) share of Common Stock on the date the PRSUs
vest. 
 4. SETTLEMENT OF PRSUs. 

(a) PAYMENT. Subject to the provisions herein, the amount payable upon the settlement of your Award will be paid solely in shares of
Common Stock. 
 (b) SETTLEMENT OF PRSUs. Your Award shall be settled, to the extent vested, in shares of Common Stock within thirty
(30) days following the Certification Date. In the event that the vesting of your Award is accelerated in accordance with Section 11 of the Plan, your Award will be settled at Target PRSUs, and to the extent required to comply with
Section 409A and avoid adverse tax treatment thereunder, your Award shall be settled within 30 days after the three-year anniversary of the Date of Grant set forth in the Grant Notice. 

(c) VALUATION OF COMMON STOCK. The Fair Market Value of the Common Stock for purposes of the Award shall be determined by the Board in
accordance with the procedures provided under the Plan. 
 (d) APPLICABLE WITHHOLDINGS. The settlement of your Award shall be subject
to applicable withholdings to satisfy the Company’s obligations to withhold amounts required by federal, state, local and foreign tax laws. In addition, such settlement may be subject to deferral or deduction on account of applicable employee
benefit plans of the Company. 

 (1) At the time your Award is settled, or at any time thereafter as requested by the
Company, you hereby authorize withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for, any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the
Company or an Affiliate, if any, which arise in connection with the settlement of your Award. 
 (2) Subject to approval by the Company, in
its sole discretion, and compliance with any applicable legal conditions or restrictions, the Company may withhold from shares of Common Stock otherwise issuable to you upon the settlement of your Award a number of whole shares of Common Stock
having a Fair Market Value, determined by the Company as of the date of settlement, not in excess of the minimum amount of tax required to be withheld by law (or such other amount as may be necessary to avoid adverse accounting treatment). 

(3) You may not receive settlement of your Award unless the tax withholding obligations of the Company and/or any Affiliate are satisfied.
Accordingly, you may not be able to receive settlement of your Award even though your Award is vested, and the Company shall have no obligation to issue a certificate for such shares of Common Stock or release such shares of Common Stock from any
escrow provided for herein unless such obligations are satisfied. 
 5. TERM. To the extent vested in accordance with Section 1
and settled pursuant to Section 4, such portion of your Award shall expire concurrently with such settlement of your Award, and to the extent not vested at the time of termination of your Continuous Service, your Award shall expire immediately
except as otherwise set forth herein. 
 6. SECURITIES LAW COMPLIANCE. Notwithstanding anything to the contrary contained herein, you
may not receive settlement of your Award unless either (i) the shares of Common Stock issuable upon such exercise are then registered under the Securities Act, or (ii) the Company has determined that such settlement and issuance would be
exempt from the registration requirements of the Securities Act. The settlement of your Award also must comply with other applicable laws and regulations governing your Award, and you may not receive settlement of your Award if the Company
determines that such settlement would not be in compliance with such laws and regulations. 
 7. TRANSFERABILITY. Your Award is not
transferable, except that shares of Common Stock vested and payable under your Award may be transferred by will or by the laws of descent and distribution. 

8. PUT RIGHT. Prior to an IPO Date, you, pursuant to the provisions of Section 8 of the Plan, shall have the right, but not the
obligation, to require the Company to repurchase any or all of the shares of Common Stock acquired pursuant to the settlement of your Award. 

9. CALL RIGHT. Prior to an IPO Date, the Company, pursuant to the provisions of Section 8 of the Plan, shall have the right, but
not the obligation, to repurchase all of the shares of Common Stock theretofore or thereafter acquired pursuant to the settlement of your Award. 

10. AWARD NOT A SERVICE CONTRACT. Your Award is not an employment or service contract, and nothing in your Award shall be deemed to
create in any way whatsoever any obligation on your part to continue in the employ of the Company or any Affiliate, or of the Company or an Affiliate to continue your employment or service. In addition, nothing in your Award shall obligate the
Company or an Affiliate, their respective stockholders, Boards of Directors, officers or employees to continue any relationship that you might have as a Director or Consultant for the Company or any Affiliate. 

 11. PERSONAL DATA. You understand that your employer, the Company, or an Affiliate
hold certain personal information about you, including but not limited to your name, home address, telephone number, date of birth, national social insurance number, salary, nationality, job title, and details of all shares of Common Stock granted,
cancelled, vested, unvested, or outstanding (the “Personal Data”). Certain Personal Data may also constitute “Sensitive Personal Data” within the meaning of applicable local law. Such data include but are not limited to
Personal Data and any changes thereto, and other appropriate personal and financial data about you. You hereby provide express consent to the Company or an Affiliate to process any such Personal Data and Sensitive Personal Data. You also hereby
provide express consent to the Company and/or an Affiliate to transfer any such Personal Data and Sensitive Personal Data outside the country in which you are employed or retained, including the United States. The legal persons for whom such
Personal Data are intended are the Company and any broker company providing services to the Company in connection with the administration of the Plan. You have been informed of your right to access and correct your Personal Data by applying to the
Company representative identified on the Grant Notice. 
 12. ADDITIONAL AGREEMENTS AND ACKNOWLEDGEMENTS. You hereby agree and
acknowledge that: 
 (a) The rights and obligations of the Company with respect to your Award shall be transferable to any one or more
persons or entities, and all covenants and agreements hereunder shall inure to the benefit of, and be enforceable by the Company’s successors and assigns. 

(b) You agree upon request to execute any further documents or instruments necessary or desirable in the sole determination of the Company to
carry out the purposes or intent of your Award. 
 (c) You have reviewed your Award in its entirety, have had an opportunity to obtain the
advice of counsel prior to executing and accepting your Award and fully understand all provisions of your Award. 
 (d) You will not question
or contest in any way, whether pursuant to legal proceedings or otherwise, the Board’s determination of the Fair Market Value of Common Stock, whether for purposes of determining the amount payable on exercise of your put right or the
Company’s call right pursuant to Section 8 of the Plan or otherwise. 
 (e) You will not question or contest in any way, whether
pursuant to legal proceedings or otherwise, the Company’s determination, pursuant to Section 8(e) of the Plan, to (i) reject, in whole or in part, your exercise of a put right or (ii) not exercise, in whole or in part, the
Company’s call right. 
 (f) This Agreement shall be subject to all applicable laws, rules, and regulations, and to such approvals by
any governmental agencies or national securities exchanges as may be required. 
 (g) All obligations of the Company under the Plan and this
Agreement shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the
Company. 
 (h) Participation in the Plan is voluntary, and therefore, you must accept the terms and conditions of the Plan and this Award as
a condition to participate in the Plan and receive this Award. 
 (i) The Plan is discretionary in nature and the Company can amend, cancel,
or terminate it at any time. 

 (j) This Award and any other awards under the Plan are voluntary and occasional and do not
create any contractual or other right to receive future awards or other benefits in lieu of future awards, even if similar awards have been granted repeatedly in the past. 

(k) All determinations with respect to any such future awards, including, but not limited to, the time or times when such awards are made, the
number of shares of Common Stock or PRSUs subject to such Awards, and the performance and other conditions applied to the Awards will be at the sole discretion of the Company. 

(l) The value of the shares of Common Stock and this Award are an extraordinary item of compensation, which is outside the scope of your
employment or service contract, if any. 
 (m) The shares of Common Stock, this Award, or any income derived therefrom are a potential bonus
payment not paid in lieu of any cash salary compensation and not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any termination, severance, resignation, redundancy, end of service
payments, bonuses, long-service awards, life or accident insurance benefits, pension or retirement benefits or similar payments. 
 (n) In
the event of the termination of your Continuous Service prior to the vesting of this Award (or a portion thereof), your eligibility to receive shares of Common Stock under this Award (or portion thereof) or the Plan, if any, will terminate effective
as of the date that you are no longer actively employed or retained regardless of any reasonable notice period mandated under local law, except as expressly provided in this Award Agreement. 

(o) In the event of the termination of your Continuous Service for Cause, the Company, in its sole discretion, may, in accordance with
Section 7(b)(vi) of the Plan, rescind any transfer of Common Stock to you that vested within six (6) months prior to such termination of Continuous Service or demand that you pay over to the Company the proceeds received by you upon the
sale, transfer or other transaction involving the Common Stock in such manner and on such terms and conditions as the Company may require, and the Company shall be entitled to set-off against the amount of
such proceeds any amount you owe to the Company to the fullest extent permitted by law. 
 (p) The future value of the shares of Common Stock
is unknown and cannot be predicted with certainty. No right to present or future ownership of Common Stock is granted pursuant to this Award; this Award is settled in shares of Common Stock only. 

(q) No claim or entitlement to compensation or damages arises from the termination of this Award or diminution in value of the shares of Common
Stock, and you irrevocably release the Company and its Affiliates, from any such claim that may arise. 
 (r) The Plan and this Award set
forth the entire understanding between you, the Company and any Affiliate regarding the acquisition of the shares of Common Stock and supersede all prior oral and written agreements pertaining to this Award. 

13. NOTICES. Any notices provided for in your Award or the Plan shall be given in writing and shall be deemed effectively given upon
receipt or, in the case of notices delivered by mail by the Company to you, five (5) days after deposit in the United States mail, postage prepaid, addressed to you at the last address you provided to the Company. 

14. HEADINGS. The headings of the Sections in this Agreement are inserted for convenience only and shall not be deemed to constitute a
part of this Agreement or to affect the meaning of this Agreement. 

 15. SEVERABILITY. If all or any part of this Agreement or the Plan is declared by any
court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity shall not invalidate any portion of this Agreement or the Plan not declared to be unlawful or invalid. Any Section of this Agreement (or part of such a
Section) so declared to be unlawful or invalid shall, if possible, be construed in a manner which will give effect to the terms of such Section or part of a Section to the fullest extent possible while remaining lawful and valid. 

16. GOVERNING PLAN DOCUMENT. Your Award is subject to all the provisions of the Plan, the provisions of which are hereby made a part of
your Award, and is further subject to all interpretations, amendments, rules and regulations, which may from time to time be promulgated and adopted pursuant to the Plan. In the event of any conflict between the provisions of your Award and those of
the Plan, the provisions of the Plan shall control. 
 [End of Performance Vested Restricted Stock Unit Award Agreement]EX-10.7

 Exhibit 10.7 

LEVI STRAUSS & CO. 

2019 EQUITY INCENTIVE PLAN 

ADOPTED BY THE BOARD OF DIRECTORS:
JANUARY 24, 2019 
 APPROVED BY THE STOCKHOLDERS:
FEBRUARY __, 2019 
 IPO DATE: ______________, 2019 

1.    GENERAL. 

(a)    Successor to and Continuation of Prior Plan. The Plan is intended as the successor to the Company’s 2016
Equity Incentive Plan (the “Prior Plan”). From and after 12:01 a.m. Pacific time on the IPO Date, no additional awards will be granted under the Prior Plan. All Awards granted on or after 12:01 a.m. Pacific Time on the IPO
Date will be granted under this Plan. All awards granted under the Prior Plan will remain subject to the terms of the Prior Plan. Any shares that would otherwise remain available for future grants under the Prior Plan as of 12:01 a.m. Pacific Time
on the IPO Date will cease to be available under the Prior Plan at such time and will not be available for grant under the Plan. 

(b)    Eligible Award Recipients. Employees, Directors and Consultants are eligible to receive Awards. 

(c)    Available Awards. The Plan provides for the grant of the following Awards: (i) Incentive Stock
Options; (ii) Nonstatutory Stock Options; (iii) Stock Appreciation Rights, (iv) Restricted Stock Awards; (v) Restricted Stock Unit Awards; (vi) Performance Stock Awards; (vii) Performance Cash Awards; and
(viii) Other Stock Awards. 
 (d)    Purpose. The Plan, through the grant of Awards, is intended to
help the Company secure and retain the services of eligible award recipients, provide incentives for such persons to exert maximum efforts for the success of the Company and any Affiliate, and provide a means by which the eligible recipients may
benefit from increases in value of the Class A Common Stock. 
 2.    ADMINISTRATION. 

(a)    Administration by Board. The Board will administer the Plan. The Board may delegate administration of
the Plan to a Committee or Committees, as provided in Section 2(c). 
 (b)    Powers of Board. The
Board will have the power, subject to, and within the limitations of, the express provisions of the Plan: 

(i)    To determine: (A) who will be granted Awards; (B) when and how each Award will be granted;
(C) what type of Award will be granted; (D) the provisions of each Award (which need not be identical), including when a person will be permitted to exercise or otherwise receive cash or Class A Common Stock under the Award;
(E) the number of shares of Class A Common Stock subject to, or the cash value of, an Award; and (F) the Fair Market Value applicable to a Stock Award. 

(ii)    To construe and interpret the Plan and Awards granted under it, and to establish, amend and revoke rules
and regulations for administration of the Plan and Awards. The Board, in the exercise of these powers, may correct any defect, omission or inconsistency in the Plan or in any Award Agreement or in the written terms of a Performance Cash Award, in a
manner and to the extent it will deem necessary or expedient to make the Plan or Award fully effective. 

  
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 (iii)    To settle all controversies regarding the Plan and
Awards granted under it. 
 (iv)    To accelerate, in whole or in part, the time at which an Award may be
exercised or vest (or the time at which cash or shares of Class A Common Stock may be issued in settlement thereof). 

(v)    To suspend or terminate the Plan at any time. Except as otherwise provided in the Plan or an Award
Agreement, suspension or termination of the Plan will not materially impair a Participant’s rights under the Participant’s then-outstanding Award without the Participant’s written consent, except as provided in subsection
(viii) below. 
 (vi)    To amend the Plan in any respect the Board deems necessary or advisable, including,
without limitation, by adopting amendments relating to Incentive Stock Options and certain nonqualified deferred compensation under Section 409A of the Code and/or bringing the Plan or Awards granted under the Plan into compliance with the
requirements for Incentive Stock Options or ensuring that they are exempt from, or compliant with, the requirements for nonqualified deferred compensation under Section 409A of the Code, subject to the limitations, if any, of applicable law. If
required by applicable law or listing requirements, and except as provided in Section 9(a) relating to Capitalization Adjustments, the Company will seek stockholder approval of any amendment of the Plan that (A) materially increases the
number of shares of Class A Common Stock available for issuance under the Plan, (B) materially expands the class of individuals eligible to receive Awards under the Plan, (C) materially increases the benefits accruing to Participants
under the Plan, (D) materially reduces the price at which shares of Class A Common Stock may be issued or purchased under the Plan, (E) materially extends the term of the Plan, or (F) materially expands the types of Awards
available for issuance under the Plan. Except as otherwise provided in the Plan or an Award Agreement, no amendment of the Plan will materially impair a Participant’s rights under an outstanding Award without the Participant’s written
consent. 
 (vii)    To submit any amendment to the Plan for stockholder approval, including, but not limited to,
amendments to the Plan intended to satisfy the requirements of (A) Section 422 of the Code regarding “incentive stock options” or (B) Rule 16b-3. 

(viii)    To approve forms of Award Agreements for use under the Plan and to amend the terms of any one or more
Awards, including, but not limited to, amendments to provide terms more favorable to the Participant than previously provided in the Award Agreement, subject to any specified limits in the Plan that are not subject to Board discretion; provided,
however, that a Participant’s rights under any Award will not be impaired by any such amendment unless (A) the Company requests the consent of the affected Participant, and (B) such Participant consents in writing. Notwithstanding
the foregoing, (1) a Participant’s rights will not be deemed to have been impaired by any such amendment if the Board, in its sole discretion, determines that the amendment, taken as a whole, does not materially impair the
Participant’s rights, and (2) subject to the limitations of applicable law, if any, the Board may amend the terms of any one or more Awards without the affected Participant’s consent (A) to maintain the qualified status of the
Award as an Incentive Stock Option under Section 422 of the Code; (B) to change the terms of an Incentive Stock Option, if such change results in impairment of the Award solely because it impairs the qualified status of the Award as an
Incentive Stock Option under Section 422 of the Code; (C) to clarify the manner of exemption from, or to bring the Award into compliance with, Section 409A of the Code; or (D) to comply with other applicable laws or listing
requirements. 
 (ix)    Generally, to exercise such powers and to perform such acts as the Board deems necessary
or expedient to promote the best interests of the Company and that are not in conflict with the provisions of the Plan or Awards. 

  
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 (x)    To adopt such procedures and sub-plans as are necessary or appropriate to permit participation in the Plan by Employees, Directors or Consultants who are foreign nationals or employed outside the United States (provided that Board approval will
not be necessary for immaterial modifications to the Plan or any Award Agreement that are required for compliance with the laws of the relevant foreign jurisdiction). 

(c)    Delegation to Committee. 

(i)    General. The Board may delegate some or all of the administration of the Plan to a Committee or
Committees. If administration of the Plan is delegated to a Committee, the Committee will have, in connection with the administration of the Plan, the powers theretofore possessed by the Board that have been delegated to the Committee, including the
power to delegate to a subcommittee of the Committee any of the administrative powers the Committee is authorized to exercise (and references in this Plan to the Board will thereafter be construed as being to the Committee or subcommittee, as
applicable). Any delegation of administrative powers will be reflected in resolutions, not inconsistent with the provisions of the Plan, adopted from time to time by the Board or Committee (as applicable). The Board may retain the authority to
concurrently administer the Plan with the Committee and may, at any time, revest in the Board some or all of the powers previously delegated. 

(ii)    Rule 16b-3 Compliance. The Committee may consist solely of
two or more Non-Employee Directors in accordance with Rule 16b-3. 

(d)    Delegation to an Officer. The Board may delegate to one (1) or more Officers the authority to do
one or both of the following (i) designate Employees who are not Officers to be recipients of Options and SARs (and, to the extent permitted by applicable law, other Stock Awards) and, to the extent permitted by applicable law, the terms of
such Awards, and (ii) determine the number of shares of Class A Common Stock to be subject to such Stock Awards granted to such Employees; provided, however, that the Board resolutions regarding such delegation will specify
the total number of shares of Class A Common Stock that may be subject to the Stock Awards granted by such Officer and that such Officer may not grant a Stock Award to himself or herself. Any such Stock Awards will be granted on the form of
Award Agreement most recently approved for use by the Committee or the Board, unless otherwise provided in the resolutions approving the delegation authority. The Board may not delegate authority to an Officer who is acting solely in the capacity of
an Officer (and not also as a Director) to determine the Fair Market Value pursuant to Section 13(x)(iii) below. 

(e)    Effect of Board’s Decision. All determinations, interpretations and constructions made by the
Board in good faith will not be subject to review by any person and will be final, binding and conclusive on all persons. 

3.    SHARES SUBJECT TO THE PLAN. 

(a)    Share Reserve. Subject to Section 9(a) relating to Capitalization Adjustments, the aggregate
number of shares of Class A Common Stock that may be issued pursuant to Stock Awards will not exceed 4,000,000 shares (the “Share Reserve”). 

For clarity, the Share Reserve in this Section 3(a) is a limitation on the number of shares of Class A Common Stock that may be
issued pursuant to the Plan. Accordingly, this Section 3(a) does not limit the granting of Stock Awards except as provided in Section 7(a). Shares may be issued in connection with a merger or acquisition as permitted by Nasdaq Marketplace
Rule 5635(c) or the NYSE Listed Company Manual Section 303A.08, or other applicable rule, and such issuance will not reduce the number of shares available for issuance under the Plan. 

  
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 (b)    Reversion of Shares to the Share Reserve. If a
Stock Award or any portion thereof (i) expires or otherwise terminates without all of the shares covered by such Stock Award having been issued or (ii) is settled in cash (i.e., the Participant receives cash rather than stock), such
expiration, termination or settlement will not reduce (or otherwise offset) the number of shares of Class A Common Stock that may be available for issuance under the Plan. If any shares of Class A Common Stock issued pursuant to a Stock
Award are forfeited back to or repurchased by the Company because of the failure to meet a contingency or condition required to vest such shares in the Participant, then the shares that are forfeited or repurchased will revert to and again become
available for issuance under the Plan. Any shares reacquired by the Company in satisfaction of tax withholding obligations on a Stock Award or as consideration for the exercise or purchase price of a Stock Award will again become available for
issuance under the Plan. 
 (c)    Incentive Stock Option Limit. Subject to the provisions of
Section 9(a) relating to Capitalization Adjustments, the aggregate maximum number of shares of Class A Common Stock that may be issued pursuant to the exercise of Incentive Stock Options will be 12,000,000 shares of Class A Common
Stock. 
 (d)    Limitation on Grants to Non-Employee Directors.
The maximum number of shares of Class A Common Stock subject to Stock Awards granted under the Plan or otherwise during any one calendar year to any Non-Employee Director, taken together with any cash
fees paid by the Company to such Non-Employee Director during such calendar year for service on the Board, will not exceed $1,500,000 in total value (calculating the value of any such Stock Awards based on the
grant date fair value of such Stock Awards for financial reporting purposes). 
 (e)    Source of Shares.
The stock issuable under the Plan will be shares of authorized but unissued or reacquired Class A Common Stock, including shares repurchased by the Company on the open market or otherwise. 

4.    ELIGIBILITY. 

(a)    Eligibility for Specific Stock Awards. Incentive Stock Options may be granted only to employees of the
Company or a “parent corporation” or “subsidiary corporation” thereof (as such terms are defined in Sections 424(e) and 424(f) of the Code). Stock Awards other than Incentive Stock Options may be granted to Employees, Directors
and Consultants; provided, however, that Stock Awards may not be granted to Employees, Directors and Consultants who are providing Continuous Service only to any “parent” of the Company, as such term is defined in Rule 405 of the
Securities Act, unless (i) the stock underlying such Stock Awards is treated as “service recipient stock” under Section 409A of the Code (for example, because the Stock Awards are granted pursuant to a corporate transaction such
as a spin off transaction), (ii) the Company, in consultation with its legal counsel, has determined that such Stock Awards are otherwise exempt from Section 409A of the Code, or (iii) the Company, in consultation with its legal counsel,
has determined that such Stock Awards comply with the distribution requirements of Section 409A of the Code. 

(b)    Ten Percent Stockholders. A Ten Percent Stockholder will not be granted an Incentive Stock Option
unless the exercise price of such Option is at least 110% of the Fair Market Value on the date of grant and the Option is not exercisable after the expiration of five years from the date of grant. 

  
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 5.    PROVISIONS RELATING TO
OPTIONS AND STOCK APPRECIATION RIGHTS. 
 Each Option or SAR
will be in such form and will contain such terms and conditions as the Board deems appropriate. All Options will be separately designated Incentive Stock Options or Nonstatutory Stock Options at the time of grant, and, if certificates are issued, a
separate certificate or certificates will be issued for shares of Class A Common Stock purchased on exercise of each type of Option. If an Option is not specifically designated as an Incentive Stock Option, or if an Option is designated as an
Incentive Stock Option but some portion or all of the Option fails to qualify as an Incentive Stock Option under the applicable rules, then the Option (or portion thereof) will be a Nonstatutory Stock Option. The provisions of separate Options or
SARs need not be identical; provided, however, that each Award Agreement will conform to (through incorporation of provisions hereof by reference in the applicable Award Agreement or otherwise) the substance of each of the following
provisions: 
 (a)    Term. Subject to the provisions of Section 4(b) regarding Ten Percent
Stockholders, no Option or SAR will be exercisable after the expiration of ten years from the date of its grant or such shorter period specified in the Award Agreement. 

(b)    Exercise Price. Subject to the provisions of Section 4(b) regarding Ten Percent Stockholders,
the exercise or strike price of each Option or SAR will be not less than 100% of the Fair Market Value of the Class A Common Stock subject to the Option or SAR on the date the Award is granted. Notwithstanding the foregoing, an Option or SAR
may be granted with an exercise or strike price lower than 100% of the Fair Market Value of the Class A Common Stock subject to the Award if such Award is granted pursuant to an assumption of or substitution for another option or stock
appreciation right pursuant to a Corporate Transaction and in a manner consistent with the provisions of Section 409A of the Code and, if applicable, Section 424(a) of the Code. Each SAR will be denominated in shares of Class A Common
Stock equivalents. 
 (c)    Purchase Price for Options. The purchase price of Class A Common Stock
acquired pursuant to the exercise of an Option may be paid, to the extent permitted by applicable law and as determined by the Board in its sole discretion, by any combination of the methods of payment set forth below. The Board will have the
authority to grant Options that do not permit all of the following methods of payment (or otherwise restrict the ability to use certain methods) and to grant Options that require the consent of the Company to use a particular method of payment. The
permitted methods of payment are as follows: 
 (i)    by cash, check, bank draft or money order payable to the
Company; 
 (ii)    pursuant to a program developed under Regulation T as promulgated by the Federal Reserve
Board that, prior to the issuance of the stock subject to the Option, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales
proceeds; 
 (iii)    by delivery to the Company (either by actual delivery or attestation) of shares of
Class A Common Stock; 
 (iv)    if an Option is a Nonstatutory Stock Option, by a “net exercise”
arrangement pursuant to which the Company will reduce the number of shares of Class A Common Stock issuable upon exercise by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price;
provided, however, that the Company will accept a cash or other payment from the Participant to the extent of any remaining balance of the aggregate exercise price not satisfied by such reduction in the number of whole shares to be issued.
Shares of Class A Common Stock will no longer be subject to an Option and will not be exercisable thereafter to the extent that (A) shares issuable upon exercise are used to pay the exercise price pursuant to the “net exercise,”
(B) shares are delivered to the Participant as a result of such exercise, and (C) shares are withheld to satisfy tax withholding obligations; or 

  
 5 

 (v)    in any other form of legal consideration that may be
acceptable to the Board and specified in the applicable Award Agreement. 
 (d)    Exercise and Payment of a
SAR. To exercise any outstanding SAR, the Participant must provide written notice of exercise to the Company in compliance with the provisions of the Award Agreement evidencing such SAR. The appreciation distribution payable on the exercise of a
SAR will be not greater than an amount equal to the excess of (A) the aggregate Fair Market Value (on the date of the exercise of the SAR) of a number of shares of Class A Common Stock equal to the number of Class A Common Stock
equivalents in which the Participant is vested under such SAR, and with respect to which the Participant is exercising the SAR on such date, over (B) the aggregate strike price of the number of Class A Common Stock equivalents with respect
to which the Participant is exercising the SAR on such date. The appreciation distribution may be paid in Class A Common Stock, in cash, in any combination of the two or in any other form of consideration, as determined by the Board and
contained in the Award Agreement evidencing such SAR. 
 (e)    Transferability of Options and SARs. The
Board may, in its sole discretion, impose such limitations on the transferability of Options and SARs as the Board will determine. In the absence of such a determination by the Board to the contrary, the following restrictions on the transferability
of Options and SARs will apply: 
 (i)    Restrictions on Transfer. An Option or SAR will not be
transferable except by will or by the laws of descent and distribution (or pursuant to subsections (ii) and (iii) below), and will be exercisable during the lifetime of the Participant only by the Participant. The Board may permit transfer of
the Option or SAR in a manner that is not prohibited by applicable tax and securities laws. Except as explicitly provided in the Plan, neither an Option nor a SAR may be transferred for consideration. 

(ii)    Domestic Relations Orders. Subject to the approval of the Board or a duly authorized Officer, an
Option or SAR may be transferred pursuant to the terms of a domestic relations order, official marital settlement agreement or other divorce or separation instrument as permitted by Treasury Regulations
Section 1.421-1(b)(2). If an Option is an Incentive Stock Option, such Option may be deemed to be a Nonstatutory Stock Option as a result of such transfer. 

(iii)    Beneficiary Designation. Subject to the approval of the Board or a duly authorized Officer, a
Participant may, by delivering written notice to the Company, in a form approved by the Company (or the designated broker), designate a third party who, on the death of the Participant, will thereafter be entitled to exercise the Option or SAR and
receive the Class A Common Stock or other consideration resulting from such exercise. In the absence of such a designation, upon the death of the Participant, the executor or administrator of the Participant’s estate will be entitled to
exercise the Option or SAR and receive the Class A Common Stock or other consideration resulting from such exercise. However, the Company may prohibit designation of a beneficiary at any time, including due to any conclusion by the Company that
such designation would be inconsistent with the provisions of applicable laws. 
 (f)    Vesting
Generally. The total number of shares of Class A Common Stock subject to an Option or SAR may vest and become exercisable in periodic installments that may or may not be equal. The Option or SAR may be subject to such other terms and
conditions on the time or times when it may or may not be exercised (which may be based on the satisfaction of Performance Goals or other criteria) as the Board may deem appropriate. The vesting provisions of individual Options or SARs may vary. The
provisions of this Section 5(f) are subject to any Option or SAR provisions governing the minimum number of shares of Class A Common Stock as to which an Option or SAR may be exercised. 

  
 6 

 (g)    Termination of Continuous Service. Except as
otherwise provided in the applicable Award Agreement or other agreement between the Participant and the Company, if a Participant’s Continuous Service terminates (other than for Cause and other than upon the Participant’s death or
Disability), the Participant may exercise his or her Option or SAR (to the extent that the Participant was entitled to exercise such Award as of the date of termination of Continuous Service) within the period of time ending on the earlier of
(i) the date that is 90 days following the termination of the Participant’s Continuous Service (or such longer or shorter period specified in the applicable Award Agreement), and (ii) the expiration of the term of the Option or SAR as
set forth in the Award Agreement. If, after termination of Continuous Service, the Participant does not exercise his or her Option or SAR (as applicable) within the applicable time frame, the Option or SAR will terminate. 

(h)    Extension of Termination Date. If the exercise of an Option or SAR following the termination of the
Participant’s Continuous Service (other than for Cause and other than upon the Participant’s death or Disability) would be prohibited at any time solely because the issuance of shares of Class A Common Stock would violate the
registration requirements under the Securities Act, then the Option or SAR will terminate on the earlier of (i) the expiration of a total period of time (that need not be consecutive) equal to the applicable post termination exercise period
after the termination of the Participant’s Continuous Service during which the exercise of the Option or SAR would not be in violation of such registration requirements, and (ii) the expiration of the term of the Option or SAR as set forth
in the applicable Award Agreement. In addition, unless otherwise provided in a Participant’s Award Agreement, if the sale of any Class A Common Stock received on exercise of an Option or SAR following the termination of the
Participant’s Continuous Service (other than for Cause) would violate the Company’s insider trading policy, then the Option or SAR will terminate on the earlier of (i) the expiration of a period of months (that need not be
consecutive) equal to the applicable post-termination exercise period after the termination of the Participant’s Continuous Service during which the sale of the Class A Common Stock received upon exercise of the Option or SAR would not be
in violation of the Company’s insider trading policy, or (ii) the expiration of the term of the Option or SAR as set forth in the applicable Award Agreement. 

(i)    Disability of Participant. Except as otherwise provided in the applicable Award Agreement or other
agreement between the Participant and the Company, if a Participant’s Continuous Service terminates as a result of the Participant’s Disability, the Participant may exercise his or her Option or SAR (to the extent that the Participant was
entitled to exercise such Option or SAR as of the date of termination of Continuous Service), but only within such period of time ending on the earlier of (i) the date 12 months following such termination of Continuous Service (or such longer
or shorter period specified in the Award Agreement), and (ii) the expiration of the term of the Option or SAR as set forth in the Award Agreement. If, after termination of Continuous Service, the Participant does not exercise his or her Option
or SAR within the applicable time frame, the Option or SAR (as applicable) will terminate. 
 (j)    Death of
Participant. Except as otherwise provided in the applicable Award Agreement or other agreement between the Participant and the Company, if (i) a Participant’s Continuous Service terminates as a result of the Participant’s death,
or (ii) the Participant dies within the period (if any) specified in the Award Agreement for exercisability after the termination of the Participant’s Continuous Service for a reason other than death, then the Option or SAR may be
exercised (to the extent the Participant was entitled to exercise such Option or SAR as of the date of death) by the Participant’s estate, by a person who acquired the right to exercise the Option or SAR by bequest or inheritance or by a person
designated to exercise the Option or SAR upon the Participant’s death, but only within the period ending on the earlier of (i) the date 18 months following the date of death (or such longer or shorter period specified in the Award
Agreement), and (ii) the expiration of the term of such Option or SAR as set forth in the Award Agreement. If, after the Participant’s death, the Option or SAR is not exercised within the applicable time frame, the Option or SAR (as
applicable) will terminate. 

  
 7 

 (k)    Termination for Cause. Except as explicitly
provided otherwise in a Participant’s Award Agreement or other individual written agreement between the Company and the Participant, if a Participant’s Continuous Service is terminated for Cause, the Option or SAR will terminate
immediately upon such Participant’s termination of Continuous Service, and the Participant will be prohibited from exercising his or her Option or SAR from and after the time of such termination of Continuous Service. 

(l)    Non-Exempt Employees. If an Option or SAR is granted to an
Employee who is a non-exempt employee for purposes of the Fair Labor Standards Act of 1938, as amended, the Option or SAR will not be first exercisable for any shares of Class A Common Stock until at
least six months following the date of grant of the Option or SAR (although the Award may vest prior to such date). Consistent with the provisions of the Worker Economic Opportunity Act, (i) if such
non-exempt Employee dies or suffers a Disability, (ii) upon a Corporate Transaction in which such Option or SAR is not assumed, continued, or substituted, (iii) upon a Change in Control, or
(iv) upon the Participant’s retirement (as such term may be defined in the Participant’s Award Agreement in another agreement between the Participant and the Company, or, if no such definition, in accordance with the Company’s
then current employment policies and guidelines), the vested portion of any Options and SARs may be exercised earlier than six months following the date of grant. The foregoing provision is intended to operate so that any income derived by a non-exempt employee in connection with the exercise or vesting of an Option or SAR will be exempt from his or her regular rate of pay. To the extent permitted and/or required for compliance with the Worker Economic
Opportunity Act to ensure that any income derived by a non-exempt employee in connection with the exercise, vesting or issuance of any shares under any other Stock Award will be exempt from the employee’s
regular rate of pay, the provisions of this Section 5(l) will apply to all Stock Awards and are hereby incorporated by reference into such Award Agreements. 

6.    PROVISIONS OF STOCK AWARDS OTHER THAN
OPTIONS AND SARS. 
 (a)    Restricted Stock Awards. Each
Award Agreement will be in such form and will contain such terms and conditions as the Board will deem appropriate. To the extent consistent with the Company’s bylaws, at the Board’s election, shares of Class A Common Stock may be
(x) held in book entry form subject to the Company’s instructions until any restrictions relating to the Restricted Stock Award lapse; or (y) evidenced by a certificate, which certificate will be held in such form and manner as
determined by the Board. The terms and conditions of Award Agreements may change from time to time, and the terms and conditions of separate Award Agreements need not be identical. Each Award Agreement will conform to (through incorporation of the
provisions hereof by reference in the agreement or otherwise) the substance of each of the following provisions: 

(i)    Consideration. A Restricted Stock Award may be awarded in consideration for (A) cash, check,
bank draft or money order payable to the Company, (B) past or future services to the Company or an Affiliate, or (C) any other form of legal consideration that may be acceptable to the Board, in its sole discretion, and permissible under
applicable law. 
 (ii)    Vesting. Shares of Class A Common Stock awarded under the Award Agreement
may be subject to forfeiture to the Company in accordance with a vesting schedule to be determined by the Board. 

(iii)    Termination of Participant’s Continuous Service. If a Participant’s Continuous Service
terminates, the Company may receive through a forfeiture condition or a repurchase right any or all of the shares of Class A Common Stock held by the Participant that have not vested as of the date of termination of Continuous Service under the
terms of the Award Agreement. 

  
 8 

 (iv)    Transferability. Rights to acquire shares of
Class A Common Stock under the Award Agreement will be transferable by the Participant only upon such terms and conditions as are set forth in the Award Agreement, as the Board will determine in its sole discretion, so long as Class A
Common Stock awarded under the Award Agreement remains subject to the terms of the Award Agreement. 

(v)    Dividends. An Award Agreement may provide that any dividends paid on Restricted Stock will be subject
to the same vesting and forfeiture restrictions as apply to the shares subject to the Restricted Stock Award to which they relate. 

(b)    Restricted Stock Unit Awards. Each Award Agreement will be in such form and will contain such terms
and conditions as the Board will deem appropriate. The terms and conditions of Award Agreements may change from time to time, and the terms and conditions of separate Award Agreements need not be identical. Each Award Agreement will conform to
(through incorporation of the provisions hereof by reference in the Agreement or otherwise) the substance of each of the following provisions: 

(i)    Consideration. At the time of grant of a Restricted Stock Unit Award, the Board will determine the
consideration, if any, to be paid by the Participant upon delivery of each share of Class A Common Stock subject to the Restricted Stock Unit Award. The consideration to be paid (if any) by the Participant for each share of Class A Common
Stock subject to a Restricted Stock Unit Award may be paid in any form of legal consideration that may be acceptable to the Board, in its sole discretion, and permissible under applicable law. 

(ii)    Vesting. At the time of the grant of a Restricted Stock Unit Award, the Board may impose such
restrictions on or conditions to the vesting of the Restricted Stock Unit Award as it, in its sole discretion, deems appropriate. 

(iii)    Payment. A Restricted Stock Unit Award may be settled by the delivery of shares of Class A
Common Stock, their cash equivalent, any combination thereof or in any other form of consideration, as determined by the Board and contained in the Award Agreement. 

(iv)    Additional Restrictions. At the time of the grant of a Restricted Stock Unit Award, the Board, as it
deems appropriate, may impose such restrictions or conditions that delay the delivery of the shares of Class A Common Stock (or their cash equivalent) subject to a Restricted Stock Unit Award to a time after the vesting of such Restricted Stock
Unit Award. 
 (v)    Dividend Equivalents. Dividend equivalents may be credited in respect of shares of
Class A Common Stock covered by a Restricted Stock Unit Award, as determined by the Board and contained in the Award Agreement. At the sole discretion of the Board, such dividend equivalents may be converted into additional shares of
Class A Common Stock covered by the Restricted Stock Unit Award in such manner as determined by the Board. Any additional shares covered by the Restricted Stock Unit Award credited by reason of such dividend equivalents will be subject to all
of the same terms and conditions of the underlying Award Agreement to which they relate. 

(vi)    Termination of Participant’s Continuous Service. Except as otherwise provided in
the applicable Award Agreement, such portion of the Restricted Stock Unit Award that has not vested will be forfeited upon the Participant’s termination of Continuous Service. 

  
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 (c)    Performance Awards. 

(i)    Performance Stock Awards. A Performance Stock Award is a Stock Award that is payable (including that
may be granted, may vest or may be exercised) contingent upon the attainment during a Performance Period of certain Performance Goals. A Performance Stock Award may, but need not, require the Participant’s completion of a specified period of
Continuous Service. The length of any Performance Period, the Performance Goals to be achieved during the Performance Period, and the measure of whether and to what degree such Performance Goals have been attained will be conclusively determined by
the Board or Committee, in its sole discretion. In addition, to the extent permitted by applicable law and the applicable Award Agreement, the Board (or Committee, as the case may be) may determine that cash may be used in payment of Performance
Stock Awards. 
 (ii)    Performance Cash Awards. A Performance Cash Award is a cash award that is payable
contingent upon the attainment during a Performance Period of certain Performance Goals. A Performance Cash Award may also require the completion of a specified period of Continuous Service. At the time of grant of a Performance Cash Award, the
length of any Performance Period, the Performance Goals to be achieved during the Performance Period, and the measure of whether and to what degree such Performance Goals have been attained will be conclusively determined by the Board or Committee,
in its sole discretion. The Board (or Committee, as the case may be) may specify the form of payment of Performance Cash Awards, which may be cash or other property, or may provide for a Participant to have the option for his or her Performance Cash
Award, or such portion thereof as the Board (or Committee, as the case may be) may specify, to be paid in whole or in part in cash or other property. The Company may provide an annual cash bonus program or long-term cash bonus program under the
auspices of the Performance Cash Award provisions of the Plan, and may also provide Performance Cash Awards outside such programs. For the avoidance of doubt, Performance Cash Awards, and any other Awards which may be paid only in cash, shall not
count against the Share Reserve. 
 (iii)    Board Discretion. The Board (or Committee, as the case may
be) retains the discretion to adjust or eliminate the compensation or economic benefit due upon attainment of Performance Goals and to define the manner of calculating the Performance Criteria it selects to use for a Performance Period. Partial
achievement of the specified criteria may result in the payment or vesting corresponding to the degree of achievement as specified in the Award Agreement or the written terms of a Performance Cash Award. 

(d)    Other Stock Awards. Other forms of Stock Awards valued in whole or in part by reference to, or
otherwise based on, Class A Common Stock, including the appreciation in value thereof (e.g., options or stock rights with an exercise price or strike price less than 100% of the Fair Market Value of the Class A Common Stock at the time of
grant) may be granted either alone or in addition to Stock Awards provided for under Section 5 and the preceding provisions of this Section 6. Subject to the provisions of the Plan, the Board will have sole and complete authority to
determine the persons to whom and the time or times at which such Other Stock Awards will be granted, the number of shares of Class A Common Stock (or the cash equivalent thereof) to be granted pursuant to such Other Stock Awards and all other
terms and conditions of such Other Stock Awards. 
 7.    COVENANTS OF THE
COMPANY. 
 (a)    Availability of Shares. The Company will keep available at all times
the number of shares of Class A Common Stock reasonably required to satisfy then-outstanding Awards. 

  
 10 

 (b)    Securities Law Compliance. The Company will seek to
obtain from each regulatory commission or agency, as necessary, such authority as may be required to grant Stock Awards and to issue and sell shares of Class A Common Stock upon exercise or vesting of the Stock Awards; provided, however,
that this undertaking will not require the Company to register under the Securities Act or other securities or applicable laws, the Plan, any Stock Award or any Class A Common Stock issued or issuable pursuant to any such Stock Award. If, after
reasonable efforts and at a reasonable cost, the Company is unable to obtain from any such regulatory commission or agency the authority that counsel for the Company deems necessary or advisable for the lawful issuance and sale of Class A
Common Stock under the Plan, the Company will be relieved from any liability for failure to issue and sell Class A Common Stock upon exercise or vesting of such Stock Awards unless and until such authority is obtained. A Participant will not be
eligible for the grant of an Award or the subsequent issuance of cash or Class A Common Stock pursuant to the Award if such grant or issuance would be in violation of any applicable law. 

(c)    No Obligation to Notify or Minimize Taxes. The Company will have no duty or obligation to any
Participant to advise such holder as to the tax treatment or time or manner of exercising such Stock Award. Furthermore, the Company will have no duty or obligation to warn or otherwise advise such holder of a pending termination or expiration of an
Award or a possible period in which the Award may not be exercised. The Company has no duty or obligation to minimize the tax consequences of an Award to the holder of such Award. 

8.    MISCELLANEOUS. 

(a)    Use of Proceeds from Sales of Class A Common Stock. Proceeds from the sale of
shares of Class A Common Stock pursuant to Awards will constitute general funds of the Company. 

(b)    Corporate Action Constituting Grant of Awards. Corporate action constituting a grant by the Company
of an Award to any Participant will be deemed completed as of the date of such corporate action, unless otherwise determined by the Board, regardless of when the instrument, certificate, or letter evidencing the Award is communicated to, or actually
received or accepted by, the Participant. In the event that the corporate records (e.g., Board consents, resolutions or minutes) documenting the corporate action constituting the grant contain terms (e.g., exercise price, vesting schedule or number
of shares) that are inconsistent with those in the Award Agreement or related grant documents as a result of a clerical error in the papering of the Award Agreement or related grant documents, the corporate records will control and the Participant
will have no legally binding right to the incorrect term in the Award Agreement or related grant documents. 

(c)    Stockholder Rights. No Participant will be deemed to be the holder of, or to have any of the rights
of a holder with respect to, any shares of Class A Common Stock subject to an Award unless and until (i) such Participant has satisfied all requirements for exercise of, or the issuance of shares of Class A Common Stock under, the
Award pursuant to its terms, and (ii) the issuance of the Class A Common Stock subject to such Award has been entered into the books and records of the Company. 

(d)    No Employment or Other Service Rights. Nothing in the Plan, any Award Agreement or any other
instrument executed thereunder or in connection with any Award granted pursuant thereto will confer upon any Participant any right to continue to serve the Company or an Affiliate in the capacity in effect at the time the Award was granted or will
affect the right of the Company or an Affiliate to terminate (i) the employment of an Employee with or without notice and with or without cause, (ii) the service of a Consultant pursuant to the terms of such Consultant’s agreement
with the Company or an Affiliate, or (iii) the service of a Director pursuant to the bylaws of the Company or an Affiliate, and any applicable provisions of the corporate law of the state or foreign jurisdiction in which the Company or the
Affiliate is domiciled or incorporated, as the case may be. 

  
 11 

 (e)    Change in Time Commitment. In the event a
Participant’s regular level of time commitment in the performance of his or her services for the Company and any Affiliates is reduced (for example, and without limitation, if the Participant is an Employee of the Company and the Employee has a
change in status from a full-time Employee to a part-time Employee or takes an extended leave of absence) after the date of grant of any Award to the Participant, the Board has the right in its sole discretion to (x) make a corresponding
reduction in the number of shares or cash amount subject to any portion of such Award that is scheduled to vest or become payable after the date of such change in time commitment, and (y) in lieu of or in combination with such a reduction,
extend the vesting or payment schedule applicable to such Award. In the event of any such reduction, the Participant will have no right with respect to any portion of the Award that is so reduced or extended. 

(f)    Incentive Stock Option Limitations. To the extent that the aggregate Fair Market Value (determined at
the time of grant) of Class A Common Stock with respect to which Incentive Stock Options are exercisable for the first time by any Optionholder during any calendar year (under all plans of the Company and any Affiliates) exceeds $100,000 (or
such other limit established in the Code) or otherwise does not comply with the rules governing Incentive Stock Options, the Options or portions thereof that exceed such limit (according to the order in which they were granted) or otherwise do not
comply with such rules will be treated as Nonstatutory Stock Options, notwithstanding any contrary provision of the applicable Award Agreement(s). 

(g)    Investment Assurances. The Company may require a Participant, as a condition of exercising or
acquiring Class A Common Stock under any Award, (i) to give written assurances satisfactory to the Company as to the Participant’s knowledge and experience in financial and business matters and/or to employ a purchaser representative
reasonably satisfactory to the Company who is knowledgeable and experienced in financial and business matters and that such Participant is capable of evaluating, alone or together with the purchaser representative, the merits and risks of exercising
the Award; and (ii) to give written assurances satisfactory to the Company stating that the Participant is acquiring Class A Common Stock subject to the Award for the Participant’s own account and not with any present intention of
selling or otherwise distributing the Class A Common Stock. The foregoing requirements, and any assurances given pursuant to such requirements, will be inoperative if (A) the issuance of the shares upon the exercise or acquisition of
Class A Common Stock under the Award has been registered under a then currently effective registration statement under the Securities Act, or (B) as to any particular requirement, a determination is made by counsel for the Company that
such requirement need not be met in the circumstances under the then applicable securities laws. The Company may, upon advice of counsel to the Company, place legends on stock certificates issued under the Plan as such counsel deems necessary or
appropriate in order to comply with applicable securities laws, including, but not limited to, legends restricting the transfer of the Class A Common Stock. 

(h)    Withholding Obligations. Unless prohibited by the terms of an Award Agreement, the Company may, in
its sole discretion, satisfy any federal, state or local tax withholding obligation relating to an Award by any of the following means or by a combination of such means: (i) causing the Participant to tender a cash payment;
(ii) withholding shares of Class A Common Stock from the shares of Class A Common Stock issued or otherwise issuable to the Participant in connection with the Award; provided, however, that no shares of Class A Common
Stock are withheld with a value exceeding the maximum amount of tax required to be withheld by law (or such lesser amount as may be necessary to avoid classification of the Stock Award as a liability for financial accounting purposes); (iii)
withholding cash from an Award settled in cash; (iv) withholding payment from any amounts otherwise payable to the Participant; or (v) by such other method as may be set forth in the Award Agreement. 

  
 12 

 (i)    Electronic Delivery. Any reference herein to a
“written” agreement or document will include any agreement or document delivered electronically, filed publicly at www.sec.gov (or any successor website thereto) or posted on the Company’s intranet (or other shared electronic medium
controlled by the Company to which the Participant has access). 
 (j)    Deferrals. To the extent
permitted by applicable law, the Board, in its sole discretion, may determine that the delivery of Class A Common Stock or the payment of cash, upon the exercise, vesting or settlement of all or a portion of any Award may be deferred and may
establish programs and procedures for deferral elections to be made by Participants. Deferrals by Participants will be made in accordance with Section 409A of the Code. Consistent with Section 409A of the Code, the Board may provide for
distributions while a Participant is still an employee or otherwise providing services to the Company. The Board is authorized to make deferrals of Awards and determine when, and in what annual percentages, Participants may receive payments,
including lump sum payments, following the Participant’s termination of Continuous Service, and implement such other terms and conditions consistent with the provisions of the Plan and in accordance with applicable law. 

(k)    Compliance with Section 409A of the Code. Unless otherwise expressly provided for
in an Award Agreement, the Plan and Award Agreements will be interpreted to the greatest extent possible in a manner that makes the Plan and the Awards granted hereunder exempt from Section 409A of the Code, and, to the extent not so exempt, in
compliance with Section 409A of the Code. If the Board determines that any Award granted hereunder is not exempt from and is therefore subject to Section 409A of the Code, the Award Agreement evidencing such Award will incorporate the
terms and conditions necessary to avoid the consequences specified in Section 409A(a)(1) of the Code, and to the extent an Award Agreement is silent on terms necessary for compliance, such terms are hereby incorporated by reference into the
Award Agreement. Notwithstanding anything to the contrary in this Plan (and unless the Award Agreement specifically provides otherwise), if the shares of Class A Common Stock are publicly traded, and if a Participant holding an Award that
constitutes “deferred compensation” under Section 409A of the Code is a “specified employee” for purposes of Section 409A of the Code, no distribution or payment of any amount that is due because of a “separation
from service” (as defined in Section 409A of the Code without regard to alternative definitions thereunder) will be issued or paid before the date that is six months following the date of such Participant’s “separation from
service” (as defined in Section 409A of the Code without regard to alternative definitions thereunder) or, if earlier, the date of the Participant’s death, unless such distribution or payment can be made in a manner that complies with
Section 409A of the Code, and any amounts so deferred will be paid in a lump sum on the day after such six month period elapses, with the balance paid thereafter on the original schedule. 

(l)    Clawback/Recovery. All Awards granted under the Plan will be subject to recoupment in accordance with
any clawback policy that the Company is required to adopt pursuant to the listing standards of any national securities exchange or association on which the Company’s securities are listed or as is otherwise required by the Dodd-Frank Wall
Street Reform and Consumer Protection Act or other applicable law. In addition, the Board may impose such other clawback, recovery or recoupment provisions in an Award Agreement as the Board determines necessary or appropriate, including but not
limited to a reacquisition right in respect of previously acquired shares of Class A Common Stock or other cash or property upon the occurrence of an event constituting Cause. No recovery of compensation under such a clawback policy will be an
event giving rise to a right to resign for “good reason” or “constructive termination” (or similar term) under any agreement with the Company. 

9.    ADJUSTMENTS UPON CHANGES IN CLASS A
COMMON STOCK; OTHER CORPORATE EVENTS. 

(a)    Capitalization Adjustments. In the event of a Capitalization Adjustment, the Board will appropriately
and proportionately adjust: (i) the class(es) and maximum number of securities subject to the Plan pursuant to Section 3(a), (ii) the class(es) and maximum number of securities that may be issued pursuant to the exercise of Incentive Stock
Options pursuant to Section 3(c) and (iii) the class(es) and number of securities and price per share of stock subject to outstanding Stock Awards. The Board will make such adjustments, and its determination will be final, binding and
conclusive. 

  
 13 

 (b)    Dissolution. Except as otherwise provided in the
Award Agreement, in the event of a Dissolution of the Company, all outstanding Stock Awards (other than Stock Awards consisting of vested and outstanding shares of Class A Common Stock not subject to a forfeiture condition or the Company’s
right of repurchase) will terminate immediately prior to the completion of such Dissolution, and the shares of Class A Common Stock subject to the Company’s repurchase rights or subject to a forfeiture condition may be repurchased or
reacquired by the Company notwithstanding the fact that the holder of such Stock Award is providing Continuous Service; provided, however, that the Board may, in its sole discretion, cause some or all Stock Awards to become fully vested,
exercisable and/or no longer subject to repurchase or forfeiture (to the extent such Stock Awards have not previously expired or terminated) before the Dissolution is completed but contingent on its completion. 

(c)    Transaction. The following provisions shall apply to Stock Awards in the event of a Transaction
unless otherwise provided in the instrument evidencing the Stock Award or any other written agreement between the Company or any Affiliate and the Participant or unless otherwise expressly provided by the Board at the time of grant of a Stock Award.
In the event of a Transaction, then, notwithstanding any other provision of the Plan, the Board shall take one or more of the following actions with respect to Stock Awards, contingent upon the closing or completion of the Transaction: 

(i)    arrange for the surviving corporation or acquiring corporation (or the surviving or acquiring
corporation’s parent company) to assume or continue the Stock Award or to substitute a similar stock award for the Stock Award (including, but not limited to, an award to acquire the same consideration paid to the stockholders of the Company
pursuant to the Transaction); 
 (ii)    arrange for the assignment of any reacquisition or repurchase rights
held by the Company in respect of Class A Common Stock issued pursuant to the Stock Award to the surviving corporation or acquiring corporation (or the surviving or acquiring corporation’s parent company); 

(iii)    accelerate the vesting, in whole or in part, of the Stock Award (and, if applicable, the time at which the
Stock Award may be exercised) to a date prior to the effective time of such Transaction as the Board shall determine (or, if the Board shall not determine such a date, to the date that is five days prior to the effective date of the Transaction),
with such Stock Award terminating if not exercised (if applicable) at or prior to the effective time of the Transaction; 

(iv)    arrange for the lapse, in whole or in part, of any reacquisition or repurchase rights held by the Company
with respect to the Stock Award; 
 (v)    cancel or arrange for the cancellation of the Stock Award, to the
extent not vested or not exercised prior to the effective time of the Transaction, in exchange for such cash consideration, if any, as the Board, in its sole discretion, may consider appropriate; and 

(vi)    make a payment, in such form as may be determined by the Board equal to the excess, if any, of (A) the
value of the property the Participant would have received upon the exercise of the Stock Award immediately prior to the effective time of the Transaction, over (B) any exercise price payable by such holder in connection with such exercise. For
clarity, this payment may be zero ($0) if the value of the property is equal to or less than the exercise price. Payments under this provision may be delayed to the same extent that payment of consideration to the holders of Class A Common
Stock in connection with the Transaction is delayed as a result of escrows, earn outs, holdbacks or other contingencies. 

  
 14 

 The Board need not take the same action or actions with respect to all Stock Awards or
portions thereof or with respect to all Participants. The Board may take different actions with respect to the vested and unvested portions of a Stock Award. 

(d)    Change in Control. A Stock Award may be subject to additional acceleration of vesting and
exercisability upon or after a Change in Control as may be provided in the Award Agreement for such Stock Award or as may be provided in any other written agreement between the Company or any Affiliate and the Participant. 

10.    PLAN TERM; EARLIER TERMINATION OR
SUSPENSION OF THE PLAN. 
 The Board may suspend or terminate the Plan at any
time. No Incentive Stock Options may be granted after the tenth anniversary of the earlier of (i) the date the Plan is adopted by the Board (the “Adoption Date”) or (ii) the date the Plan is approved by the
stockholders of the Company. No Awards may be granted under the Plan while the Plan is suspended or after it is terminated. 

11.    EXISTENCE OF THE PLAN; TIMING OF
FIRST GRANT OR EXERCISE. 
 The Plan will come into existence on the Adoption
Date; provided, however, that no Stock Award may be granted prior to the IPO Date. In addition, no Stock Award will be exercised (or, in the case of a Restricted Stock Award, Restricted Stock Unit Award, Performance Stock Award, or Other
Stock Award, no Stock Award will be granted) and no Performance Cash Award will be settled unless and until the Plan has been approved by the stockholders of the Company, which approval will be within 12 months after the date the Plan is adopted by
the Board. 
 12.    CHOICE OF LAW. 

The law of the State of Delaware will govern all questions concerning the construction, validity and interpretation of this Plan, without
regard to that state’s conflict of laws rules. 
 13.    DEFINITIONS. As used in the Plan, the
following definitions will apply to the capitalized terms indicated below: 

(a)    “Affiliate” means, at the time of determination, any “parent” or
“subsidiary” of the Company as such terms are defined in Rule 405 of the Securities Act. The Board will have the authority to determine the time or times at which “parent” or “subsidiary” status is determined within the
foregoing definition. 
 (b)    “Award” means a Stock Award or a Performance Cash Award.

 (c)    “Award Agreement” means a written agreement between the Company and a
Participant evidencing the terms and conditions of an Award. 
 (d)    “Board” means the
Board of Directors of the Company. 
 (e)    “Capital Stock” means the Class A
Common Stock and the Class B Common Stock. 

  
 15 

 (f)    “Capitalization Adjustment” means
any change that is made in, or other events that occur with respect to, the Class A Common Stock subject to the Plan or subject to any Stock Award after the Adoption Date without the receipt of consideration by the Company through merger,
consolidation, reorganization, recapitalization, reincorporation, stock dividend, dividend in property other than cash, large nonrecurring cash dividend, stock split, reverse stock split, liquidating dividend, combination of shares, exchange of
shares, change in corporate structure or any similar equity restructuring transaction, as that term is used in Statement of Financial Accounting Standards Board Accounting Standards Codification Topic 718 (or any successor thereto). Notwithstanding
the foregoing, the conversion of any convertible securities of the Company will not be treated as a Capitalization Adjustment. 

(g)    “Cause” means that the Participant has: (i) committed any
willful, intentional or grossly negligent act materially injuring the interest, business or reputation of the Company or an Affiliate; (ii) engaged in any willful misconduct, including insubordination, in respect of his or her duties or
obligations to the Company or an Affiliate; (iii) violated or failed to comply in any material respect with the Company’s or any Affiliate’s published rules, regulations or policies (including, without limitation, the Company’s
Worldwide Code of Business Conduct), as in effect from time to time; (iv) committed a felony or misdemeanor involving moral turpitude, fraud, theft or dishonesty (including entry of a nolo contendere plea resulting in conviction of a felony or
misdemeanor involving moral turpitude, fraud, theft or dishonesty); (v) misappropriated or embezzled any property of the Company or an Affiliate (whether or not a misdemeanor or felony); (vi) failed, neglected or refused to perform the employment or
Board duties, as applicable, related to his or her position as from time to time assigned to him or her; or (vii) breached any applicable employment agreement. For purposes of this Section 2(e), “willful” means an act or omission
in bad faith and without reasonable belief that such act or omission was in, or not opposed to, the best interests of the Company. 

(h)    “Change in Control” means the occurrence, in a single transaction or in a series of
related transactions, of any one or more of the following events: 
 (i)    any Exchange Act Person becomes the
Owner, directly or indirectly, of securities of the Company representing more than 50% of the combined voting power of the Company’s then outstanding voting securities other than by virtue of a merger, consolidation or similar transaction.
Notwithstanding the foregoing, a Change in Control will not be deemed to occur (A) on account of the acquisition of securities of the Company directly from the Company; or (B) solely because the level of Ownership held by any Exchange Act
Person (the “Subject Person”) exceeds the designated percentage threshold of the outstanding voting securities as a result of a repurchase or other acquisition of voting securities by the Company reducing the number of shares
outstanding, provided that if a Change in Control would occur (but for the operation of this sentence) as a result of the acquisition of voting securities by the Company, and after such share acquisition, the Subject Person becomes the Owner of any
additional voting securities that, assuming the repurchase or other acquisition had not occurred, increases the percentage of the then outstanding voting securities Owned by the Subject Person over the designated percentage threshold, then a Change
in Control will be deemed to occur; 
 (ii)    there is consummated a merger, consolidation or similar
transaction involving (directly or indirectly) the Company and, immediately after the consummation of such merger, consolidation or similar transaction, the stockholders of the Company immediately prior thereto do not Own, directly or indirectly,
either (A) outstanding voting securities representing more than 50% of the combined outstanding voting power of the surviving Entity in such merger, consolidation or similar transaction or (B) more than 50% of the combined outstanding
voting power of the parent of the surviving Entity in such merger, consolidation or similar transaction, in each case in substantially the same proportions as their Ownership of the outstanding voting securities of the Company immediately prior to
such transaction; provided, however, that a merger, consolidation or similar transaction will not constitute a Change in Control under this prong of the definition if the outstanding voting securities representing more than 50% of the
combined voting power of the surviving Entity or its parent are owned by the IPO Entities; 

  
 16 

 (iii)    there is consummated a sale, lease, exclusive license or
other disposition of all or substantially all of the consolidated assets of the Company and its Subsidiaries, other than a sale, lease, license or other disposition of all or substantially all of the consolidated assets of the Company and its
Subsidiaries to an Entity, more than 50% of the combined voting power of the voting securities of which are Owned by stockholders of the Company in substantially the same proportions as their Ownership of the outstanding voting securities of the
Company immediately prior to such sale, lease, license or other disposition; provided, however, that a sale, lease, exclusive license or other disposition of all or substantially all of the consolidated assets of the Company and its
Subsidiaries will not constitute a Change in Control under this prong of the definition if the outstanding voting securities representing more than 50% of the combined voting power of the acquiring Entity or its parent are owned by the IPO Entities;

 (iv)    the stockholders of the Company approve or the Board approves a plan of complete dissolution or
liquidation of the Company, or a complete dissolution or liquidation of the Company will otherwise occur, except for a liquidation into a parent corporation; or 

(v)    individuals who, on the date the Plan is adopted by the Board, are members of the Board (the
“Incumbent Board”) cease for any reason to constitute at least a majority of the members of the Board; provided, however, that if the appointment or election (or nomination for
election) of any new Board member was approved or recommended by a majority vote of the members of the Incumbent Board then still in office, such new member will, for purposes of this Plan, be considered as a member of the Incumbent Board. 

Notwithstanding the foregoing definition or any other provision of the Plan, the term Change in Control will not include a sale of assets,
merger or other transaction effected exclusively for the purpose of changing the domicile of the Company and the definition of Change in Control (or any analogous term) in an individual written agreement between the Company or any Affiliate and the
Participant will supersede the foregoing definition with respect to Awards subject to such agreement; provided, however, that if no definition of Change in Control or any analogous term is set forth in such an individual written agreement,
the foregoing definition will apply. 
 (i)    “Class A Common
Stock” means the Class A common stock of the Company. 

(j)    “Class B Common Stock” means the Class B
common stock of the Company. 
 (k)    “Code” means the Internal Revenue Code of 1986, as
amended, including any applicable regulations and guidance thereunder. 

(l)    “Committee” means a committee of one or more Directors to whom authority has been
delegated by the Board in accordance with Section 2(c). 
 (m)    “Company” means
Levi Strauss & Co., a Delaware corporation. 
 (n)    “Consultant” means any
person, including an advisor, who is (i) engaged by the Company or an Affiliate to render consulting or advisory services and is compensated for such services, or (ii) serving as a member of the board of directors of an Affiliate and is
compensated for such services. However, service solely as a Director, or payment of a fee for such service, will not cause a Director to be considered a “Consultant” for purposes of the Plan. Notwithstanding the foregoing, a
person is treated as a Consultant under this Plan only if a Form S-8 Registration Statement under the Securities Act is available to register either the offer or the sale of the Company’s securities to
such person. 

  
 17 

 (o)    “Continuous Service” means that
the Participant’s service with the Company or an Affiliate, whether as an Employee, Director or Consultant, is not interrupted or terminated. A change in the capacity in which the Participant renders service to the Company or an Affiliate as an
Employee, Consultant or Director or a change in the entity for which the Participant renders such service, provided that there is no interruption or termination of the Participant’s service with the Company or an Affiliate, will not terminate a
Participant’s Continuous Service; provided, however, that if the Entity for which a Participant is rendering services ceases to qualify as an Affiliate, as determined by the Board, in its sole discretion, such Participant’s
Continuous Service will be considered to have terminated on the date such Entity ceases to qualify as an Affiliate. To the extent permitted by law, the Board or the chief executive officer of the Company, in that party’s sole discretion, may
determine whether Continuous Service will be considered interrupted in the case of (i) any leave of absence approved by the Board or chief executive officer, including sick leave, military leave or any other personal leave, or
(ii) transfers between the Company, an Affiliate, or their successors. Notwithstanding the foregoing, a leave of absence will be treated as Continuous Service for purposes of vesting in an Award only to such extent as may be provided in the
Company’s leave of absence policy, in the written terms of any leave of absence agreement or policy applicable to the Participant, or as otherwise required by law. 

(p)    “Corporate Transaction” means the consummation, in a single transaction or in a
series of related transactions, of any one or more of the following events: 
 (i)    a sale or other
disposition of all or substantially all, as determined by the Board, in its sole discretion, of the consolidated assets of the Company and its Subsidiaries; 

(ii)    a sale or other disposition of more than 50% of the combined voting power of the Company’s then
outstanding securities; 
 (iii)    a merger, consolidation or similar transaction following which the Company is
not the surviving corporation; or 
 (iv)    a merger, consolidation or similar transaction following which the
Company is the surviving corporation but the shares of Capital Stock outstanding immediately preceding the merger, consolidation or similar transaction are converted or exchanged by virtue of the merger, consolidation or similar transaction into
other property, whether in the form of securities, cash or otherwise. 
 (q)    
“Director” means a member of the Board. 
 (r)    “Disability”
means, with respect to a Participant, the inability of such Participant to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or that has lasted or
can be expected to last for a continuous period of not less than 12 months, as provided in Sections 22(e)(3) and 409A(a)(2)(c)(i) of the Code, and will be determined by the Board on the basis of such medical evidence as the Board deems warranted
under the circumstances. 
 (s)    “Dissolution” means when the Company, after having
executed a certificate of dissolution with the State of Delaware (or other applicable state), has completely wound up its affairs. Conversion of the Company into a Limited Liability Company (or any other pass-through entity) will not be considered a
“Dissolution” for purposes of the Plan. 

  
 18 

 (t)    “Employee” means any person
employed by the Company or an Affiliate. However, service solely as a Director, or payment of a fee for such services, will not cause a Director to be considered an “Employee” for purposes of the Plan. 

(u)    “Entity” means a corporation, partnership, limited liability company or other
entity. 
 (v)    “Exchange Act” means the Securities Exchange Act of 1934, as amended,
and the rules and regulations promulgated thereunder. 
 (w)    “Exchange Act
Person” means any natural person, Entity or “group” (within the meaning of Section 13(d) or 14(d) of the Exchange Act), except that “Exchange Act Person” will not include (i) the Company or
any Subsidiary of the Company, (ii) any employee benefit plan of the Company or any Subsidiary of the Company or any trustee or other fiduciary holding securities under an employee benefit plan of the Company or any Subsidiary of the Company,
(iii) an underwriter temporarily holding securities pursuant to a registered public offering of such securities, (iv) an Entity Owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as
their Ownership of stock of the Company; or (v) any natural person, Entity or “group” (within the meaning of Section 13(d) or 14(d) of the Exchange Act) that, as of the IPO Date, is the Owner, directly or indirectly, of
securities of the Company representing more than 50% of the combined voting power of the Company’s then outstanding securities. 

(x)    “Fair Market Value” means, as of any date, the value of the Class A Common
Stock determined as follows: 
 (i)    If the Class A Common Stock is listed on any established stock
exchange or traded on any established market, the Fair Market Value of a share of Class A Common Stock will be, unless otherwise determined by the Board, the closing sales price for such stock as quoted on such exchange or market (or the
exchange or market with the greatest volume of trading in the Class A Common Stock) on the date of determination, as reported in a source the Board deems reliable. 

(ii)    Unless otherwise provided by the Board, if there is no closing sales price for the Class A Common
Stock on the date of determination, then the Fair Market Value will be the closing selling price on the last preceding date for which such quotation exists. 

(iii)    In the absence of such markets for the Class A Common Stock, the Fair Market Value will be determined
by the Board in good faith and in a manner that complies with Sections 409A and 422 of the Code. 

(y)    “Incentive Stock Option” means an option granted pursuant to Section 5 of the
Plan that is intended to be, and qualifies as, an “incentive stock option” within the meaning of Section 422 of the Code. 

(z)    “IPO Date” means the date of the underwriting agreement between the Company and the
underwriter(s) managing the initial public offering of the Class A Common Stock, pursuant to which the Class A Common Stock is priced for the initial public offering. 

(aa)    “Non-Employee Director” means a
Director who either (i) is not a current employee or officer of the Company or an Affiliate, does not receive compensation, either directly or indirectly, from the Company or an Affiliate for services rendered as a consultant or in any capacity
other than as a Director (except for an amount as to which disclosure would not be required under Item 404(a) of Regulation S-K promulgated pursuant to the Securities Act (“Regulation S-K”)), does not possess an interest in any other transaction for which disclosure would be required under Item 404(a) of Regulation S-K, and is not engaged in a
business relationship for which disclosure would be required pursuant to Item 404(b) of Regulation S-K; or (ii) is otherwise considered a “non-employee
director” for purposes of Rule 16b-3. 

  
 19 

 (bb)    “Nonstatutory Stock Option” means
any Option granted pursuant to Section 5 of the Plan that does not qualify as an Incentive Stock Option. 

(cc)    “Officer” means a person who is an officer of the Company within the meaning of
Section 16 of the Exchange Act. 
 (dd)    “Option” means an Incentive Stock Option
or a Nonstatutory Stock Option to purchase shares of Class A Common Stock granted pursuant to the Plan. 

(ee)    “Optionholder” means a person to whom an Option is granted pursuant to the Plan or,
if applicable, such other person who holds an outstanding Option. 
 (ff)    “Other Stock
Award” means an award based in whole or in part by reference to the Class A Common Stock which is granted pursuant to the terms and conditions of Section 6(d). 

(gg)    “Own,” “Owned,”
“Owner,” “Ownership” means a person or Entity will be deemed to “Own,” to have “Owned,” to be the “Owner” of, or to have acquired
“Ownership” of securities if such person or Entity, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has or shares voting power, which includes the power to vote or to direct the voting,
with respect to such securities. 
 (hh)    “Participant” means a person to whom an Award
is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Stock Award. 

(ii)    “Performance Cash Award” means an award of cash granted pursuant to the terms and
conditions of Section 6(c)(ii). 
 (jj)    “Performance Criteria” means the one or
more criteria that the Board or Committee (as applicable) will select for purposes of establishing the Performance Goals for a Performance Period. The Performance Criteria that will be used to establish such Performance Goals may be based on any one
of, or combination of, the following as determined by the Board: (1) earnings before interest, taxes, depreciation, amortization, and rent (“EBITDAR”); (2) earnings before interest, taxes, depreciation and
amortization (“EBITDA”); (3) earnings before interest and taxes (“EBIT”); (4) EBITDAR, EBITDA, EBIT or earnings before taxes and unusual or nonrecurring items as measured either against the annual
budget or as a ratio to revenue or return on total capital; (5) net earnings; (6) earnings per share; (7) net income; (8) gross profit margin; (9) operating margin; (10) operating income; (11) net worth;
(12) cash flow; (13) cash flow per share; (14) total stockholder return; (15) return on capital; (16) stock price performance; (17) revenues; (18) costs; (19) working capital; (20) capital expenditures;
(21) changes in capital structure; (22) economic value added; (23) industry indices; (24) expenses and expense ratio management; (25) debt reduction; (26) profitability of an identifiable business unit or product;
(27) levels of expense, cost or liability by category, operating unit or any other delineation; (28) implementation or completion of projects or processes; (29) inventory measures; and (30) other measures of performance selected
by the Board or Committee. 

  
 20 

 (kk)    “Performance Goals” means, for a
Performance Period, the one or more goals established by the Board or Committee (as applicable) for the Performance Period based upon the Performance Criteria. Performance Goals may be based on a Company-wide basis, with respect to one or more
business units, divisions, Affiliates, or business segments, and in either absolute terms or relative to the performance of one or more comparable companies or the performance of one or more relevant indices. Unless specified otherwise by the Board
(i) in the Award Agreement at the time the Award is granted or (ii) in such other document setting forth the Performance Goals at the time the Performance Goals are established, the Board will appropriately make adjustments in the method
of calculating the attainment of Performance Goals for a Performance Period as follows: (1) to exclude restructuring and/or other nonrecurring charges; (2) to exclude exchange rate effects; (3) to exclude the effects of changes to
generally accepted accounting principles; (4) to exclude the effects of any statutory adjustments to corporate tax rates; (5) to exclude the effects of any items that are unusual in nature or occur infrequently as determined under
generally accepted accounting principles; (6) to respond to, or in anticipation of, any unusual, non-recurring gain or loss or other extraordinary item; (7) to respond to, or in anticipation of, any
unusual or extraordinary corporate item, transaction, event or development; (8) to respond to, or in anticipation of, changes in applicable laws, regulations, accounting principles or business conditions; (9) to exclude the dilutive
effects of acquisitions or joint ventures; (10) to assume that any business divested by the Company achieved performance objectives at targeted levels during the balance of a Performance Period following such divestiture; (11) to exclude
the effect of any change in the outstanding shares of Capital Stock by reason of any stock dividend or split, stock repurchase, reorganization, recapitalization, merger, consolidation, spin-off, combination or
exchange of shares or other similar corporate change, or any distributions to stockholders other than regular cash dividends; (12) to exclude the effects of stock based compensation and the award of bonuses under the Company’s bonus plans;
(13) to exclude costs incurred in connection with potential acquisitions or divestitures that are required to be expensed under generally accepted accounting principles; (14) to reflect a corporate transaction, such as a merger,
consolidation, separation (including a spinoff or other distribution of stock or property by a corporation), or reorganization (whether or not such reorganization comes within the definition of such term in Section 368 of the Code); (15) to
reflect any partial or complete corporate liquidation; (16) to exclude the goodwill and intangible asset impairment charges that are required to be recorded under generally accepted accounting principles; and (17) to exclude the effect of
any other unusual, non-recurring gain or loss or other extraordinary item; and (18) to make such other equitable adjustments it deems advisable in its discretion. In addition, the Board or Committee (as
applicable) retains the discretion to adjust or eliminate the compensation or economic benefit due upon attainment of Performance Goals and to define the manner of calculating the Performance Criteria it selects to use for such Performance Period.
Partial achievement of the specified criteria may result in the payment or vesting corresponding to the degree of achievement as specified in the Award Agreement or the written terms of a Performance Cash Award. 

(ll)    “Performance Period” means the period of time selected by the Board or Committee
(as applicable) over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Participant’s right to and the payment of a Stock Award or a Performance Cash Award. Performance Periods may be of
varying and overlapping duration, at the sole discretion of the Board or Committee. 

(mm)    “Performance Stock Award” means an Award granted under the terms and conditions of
Section 6(c)(i). 
 (nn)    “Plan” means this Levi Strauss & Co. 2019
Equity Incentive Plan. 
 (oo)    “Restricted Stock Award” means an award of shares of
Class A Common Stock which is granted pursuant to the terms and conditions of Section 6(a). 

  
 21 

 (oo)    “Restricted Stock Unit
Award” means a right to receive shares of Class A Common Stock which is granted pursuant to the terms and conditions of Section 6(b). 

(pp)     “Rule 16b-3” means Rule 16b-3 promulgated under the Exchange Act or any successor to Rule 16b-3, as in effect from time to time. 

(qq)    “Securities Act” means the Securities Act of 1933, as amended. 

(rr)    “Stock Appreciation Right” or “SAR” means a
right to receive the appreciation on Class A Common Stock that is granted pursuant to the terms and conditions of Section 5. 

(ss)     “Stock Award” means any right to receive Class A Common Stock granted under
the Plan, including an Incentive Stock Option, a Nonstatutory Stock Option, a Restricted Stock Award, a Restricted Stock Unit Award, a Stock Appreciation Right, a Performance Stock Award or any Other Stock Award. 

(tt)     “Subsidiary” means, with respect to the Company, (i) any corporation of which
more than 50% of the outstanding capital stock having ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of whether, at the time, stock of any other class or classes of such corporation will have or
might have voting power by reason of the happening of any contingency) is at the time, directly or indirectly, Owned by the Company, and (ii) any partnership, limited liability company or other entity in which the Company has a direct or
indirect interest (whether in the form of voting or participation in profits or capital contribution) of more than 50%. 

(uu)    “Ten Percent Stockholder” means a person who Owns (or is deemed to Own pursuant to
Section 424(d) of the Code) stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or any Affiliate. 

(vv)    “Transaction” means a Corporate Transaction or a Change in Control. 

  
 22

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