Document:

The Gap, Inc. Deferred Compensation Plan, as amended and restated

 Exhibit 10.1 
 GAP, INC. 
 DEFERRED COMPENSATION PLAN 

(Originally Effective January 1, 2006) 
 (As Amended and Restated Effective September 1, 2011) 

 TABLE OF CONTENTS 

 

											
	 	  	 	 	  	 	  	PAGE	 
				
	 SECTION 1
	  				  	INTRODUCTION	  	 	1	  
		  	 	1.1	  	  	Purpose	  	 	1	  
		  	 	1.2	  	  	Effective Date; Plan Year	  	 	1	  
		  	 	1.3	  	  	Plan Administration	  	 	1	  
		  	 	1.4	  	  	Unfunded Nature of Plan	  	 	2	  
				
	 SECTION 2
	  				  	DEFINITIONS	  	 	3	  
		  	 	2.1	  	  	Account	  	 	3	  
		  	 	2.2	  	  	Accounting Date	  	 	3	  
		  	 	2.3	  	  	Beneficiary	  	 	3	  
		  	 	2.4	  	  	Board	  	 	3	  
		  	 	2.5	  	  	Bonus	  	 	3	  
		  	 	2.6	  	  	Bonus Deferrals	  	 	3	  
		  	 	2.7	  	  	Code	  	 	3	  
		  	 	2.8	  	  	Committee	  	 	3	  
		  	 	2.9	  	  	Company	  	 	4	  
		  	 	2.10	  	  	Compensation	  	 	4	  
		  	 	2.11	  	  	Compensation Committee	  	 	4	  
		  	 	2.12	  	  	Compensation Deferrals	  	 	4	  
		  	 	2.13	  	  	 Continuous Service
	  	 	4	  
		  	 	2.14	  	  	 Effective Date 
	  	 	5	  
		  	 	2.15	  	  	 Eligible Individual 
	  	 	5	  
		  	 	2.16	  	  	 Employee 
	  	 	5	  
		  	 	2.17	  	  	 Employer 
	  	 	5	  
		  	 	2.18	  	  	 ERISA 
	  	 	5	  
		  	 	2.19	  	  	 Gap Stock Fund 
	  	 	5	  
		  	 	2.20	  	  	 Investment Funds 
	  	 	6	  
		  	 	2.21	  	  	 Matching Contributions 
	  	 	6	  
		  	 	2.22	  	  	 Participant 
	  	 	6	  
		  	 	2.23	  	  	 Plan 
	  	 	6	  
		  	 	2.24	  	  	 Plan Year/Plan Year Quarter/Fiscal Year 
	  	 	6	  
		  	 	2.25	  	  	 Retirement 
	  	 	6	  
		  	 	2.26	  	  	 Social Security Taxable Wage Base
	  	 	6	  
		  	 	2.27	  	  	 Spouse 
	  	 	6	  
		  	 	2.28	  	  	 Termination Date 
	  	 	7	  
		  	 	2.29	  	  	Other Definitions	  			
				
	 SECTION 3
	  				  	ELIGIBILITY AND PARTICIPATION	  	 	8	  
		  	 	3.1	  	  	Initial Eligibility	  	 	8	  
		  	 	3.2	  	  	Cessation of Participation	  	 	8	  
		  	 	3.3	  	  	Eligibility for Matching Contributions	  	 	8	  

 TABLE OF CONTENTS 

(continued) 
  

									
	 	  	 	  	 	  	PAGE	 
				
	 SECTION 4
	  		  	DEFERRALS AND CONTRIBUTIONS	  	 	9	  
		  	4.1	  	Compensation Deferrals	  	 	9	  
		  	4.2	  	Bonus Deferrals	  	 	10	  
		  	4.3	  	Matching Contributions	  	 	11	  
		  	4.4	  	No Election Changes During Plan Year	  	 	11	  
		  	4.5	  	Crediting of Deferrals	  	 	11	  
		  	4.6	  	Reduction of Deferrals or Contributions	  	 	12	  
				
	 SECTION 5
	  		  	NOTIONAL INVESTMENTS	  	 	13	  
		  	5.1	  	Investment Funds	  	 	13	  
		  	5.2	  	Investment Fund Elections	  	 	13	  
		  	5.3	  	Investment Fund Transfers	  	 	13	  
				
	 SECTION 6
	  		  	ACCOUNTING	  	 	15	  
		  	6.1	  	Individual Accounts	  	 	15	  
		  	6.2	  	Adjustment of Accounts	  	 	15	  
		  	6.3	  	Accounting Methods	  	 	15	  
		  	6.4	  	Statement of Account	  	 	16	  
				
	 SECTION 7
	  		  	VESTING	  	 	17	  
				
	 SECTION 8
	  		  	FUNDING	  	 	18	  
				
	 SECTION 9
	  		  	DISTRIBUTION OF ACCOUNTS	  	 	19	  
		  	9.1	  	Distribution of Accounts Prior to Retirement Date	  	 	19	  
		  	9.2	  	Distribution of Accounts After Retirement Date	  	 	20	  
		  	9.3	  	Key Employees	  	 	21	  
		  	9.4	  	Mandatory Cash-Outs of Small Amounts	  	 	21	  
		  	9.5	  	Designation of Beneficiary	  	 	21	  
		  	9.6	  	Reemployment	  	 	22	  
		  	9.7	  	Special Distribution Rules	  	 	22	  
				
	 SECTION 10
	  		  	GENERAL PROVISIONS	  	 	24	  
		  	10.1	  	Interests Not Transferable	  	 	24	  
		  	10.2	  	Employment Rights	  	 	24	  
		  	10.3	  	Litigation by Participants or Other Persons	  	 	24	  
		  	10.4	  	Evidence	  	 	24	  
		  	10.5	  	Waiver of Notice	  	 	24	  
		  	10.6	  	Controlling Law	  	 	24	  
		  	10.7	  	Statutory References	  	 	25	  
		  	10.8	  	Severability	  	 	25	  
		  	10.9	  	Action By the Company, the Employers or the Committee	  	 	25	  
		  	10.10	  	Headings and Captions	  	 	25	  
		  	10.11	  	Gender and Number	  	 	25	  

  
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 TABLE OF CONTENTS 

(continued) 
  

									
	 	  	 	  	 	  	PAGE	 
				
		  	10.12	  	Examination of Documents	  	 	25	  
		  	10.13	  	Elections	  	 	25	  
		  	10.14	  	Manner of Delivery	  	 	26	  
		  	10.15	  	Facility of Payment	  	 	26	  
		  	10.16	  	Missing Persons	  	 	26	  
		  	10.17	  	Recovery of Benefits	  	 	27	  
		  	10.18	  	Effect on Other Benefits	  	 	27	  
		  	10.19	  	Tax and Legal Effects	  	 	27	  
				
	 SECTION 11
	  		  	PLAN ADMINISTRATION	  	 	28	  
		  	11.1	  	Establishment of Committee	  	 	28	  
		  	11.2	  	Committee General Powers, Rights, and Duties	  	 	28	  
		  	11.3	  	Interested Committee Member	  	 	29	  
		  	11.4	  	Compensation and Expenses	  	 	29	  
		  	11.5	  	Information Required by Company	  	 	29	  
		  	11.6	  	Uniform Application of Rules	  	 	30	  
		  	11.7	  	Review of Benefit Determinations	  	 	30	  
		  	11.8	  	Company’s Decision Final	  	 	30	  
				
	 SECTION 12
	  		  	AMENDMENT AND TERMINATION	  	 	31	  

  
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 GAP, INC. 

DEFERRED COMPENSATION PLAN 
 (Originally Effective January 1, 2006) 
 (As Amended and Restated Effective
September 1, 2011) 
 SECTION 1 INTRODUCTION 

1.1    Purpose 
 The Gap, Inc. (the “Company”) has established Gap, Inc. Deferred Compensation Plan (the “Plan”), to provide certain supplemental benefits to a select group of management employees of
the Employers under the Plan, and to non-employee members of the Board of Directors of the Company, who contribute materially to the continued growth, development, and future success of the Employers. 

The Plan is intended to comply with the American Jobs Creation Act of 2004, Code Section 409A, and related guidance. Accordingly,
the provisions of the Plan shall be applied, construed and administered in compliance with the applicable requirements of Code Section 409A and the Treasury Regulations thereunder. In addition, should there arise any ambiguity as to whether any
provisions of this Plan would contravene one or more applicable requirements or limitations of Code Section 409A, such provisions shall be interpreted, administered and applied in a manner that complies with the applicable requirements of Code
Section 409A and the Treasury Regulations thereunder. For purposes of Code Section 409A, all payments to be made on account of termination of employment shall only be made upon of a “separation from service” under Code
Section 409A and the Treasury Regulations thereunder. Payments under the Plan shall be paid on a permissible payment event in a manner that complies with Code Section 409A and the Treasury Regulations thereunder. In no event shall a
Participant, directly or indirectly, designate the calendar year of payment. 
 The Plan is intended to constitute an account
balance plan (as defined in IRS Notice 2005-1, Q&A-9). 
 1.2    Effective Date; Plan Year

 The Plan is hereby effective January 1, 2006, except as otherwise set forth herein. The Plan is administered on the
basis of a Plan Year, as defined in subsection 2.24. 
 1.3    Plan Administration 

The Company shall be the administrator (as that term is defined in Section 3(16)(A) of ERISA) of the Plan and shall be responsible
for the administration of the Plan; provided, however, the Company may delegate all or any part of its powers, rights and duties under the Plan to such person or persons as it may deem advisable. Any notice or document relating to the Plan which is
to be filed with the Company may be delivered, or mailed by registered or certified mail, postage pre-paid, to the Company, or to any designated Company representative, in care of the Company, at its principal office. 

 1.4    Unfunded Nature of Plan 

The Plan is an unfunded, nonqualified deferred compensation plan that is intended to qualify for the exemptions provided in Sections 201,
301, and 401 of ERISA. Participants (and their Beneficiaries) shall have only those rights to payments as set forth in the Plan and shall be considered general, unsecured creditors of the Employers with respect to any such rights. 

  
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 SECTION 2     DEFINITIONS 

2.1    Account 
 “Account” means all notional accounts and subaccounts maintained for a Participant in order to reflect his interest under the Plan, as described in Section 6. 

2.2    Accounting Date 
 “Accounting Date” means each day designated by the Company as of which the value of an Investment Fund is adjusted for notional deferrals, contributions, distributions, gains, losses, or
expenses. To the extent not otherwise designated by the Committee, each Investment Fund will be valued as of each day on which the New York Stock Exchange is open for trading. 
 2.3    Beneficiary 
 “Beneficiary” means the
person or persons to whom a deceased Participant’s benefits are payable under subsection 9.5. 

2.4    Board 
 “Board” means the Board of Directors of the Company, as from time to time constituted. 
 2.5    Bonus 
 “Bonus” means an award of cash
contingent upon the achievement of specified performance goals and payable to an Employee in a given year, with respect to the immediately preceding bonus performance period. “Sign-on Bonus” means an award of cash payable to the Employee
upon or within a short period of time after date of hire, as determined in accordance with the Company’s compensation policies. 
 2.6    Bonus Deferrals 
 “Bonus Deferrals”
means the amounts credited to a Participant’s Bonus Deferral Account pursuant to the Participant’s election made in accordance with subsection 4.2. 
 2.7    Code 
 “Code” means the Internal
Revenue Code of 1986, as amended. Reference to a specific section of the Code shall include such section, any valid regulation promulgated thereunder, and any comparable provision of any future legislation amending, supplementing, or superseding
such section. 
 2.8    Committee 

“Committee” means the US Savings Plan Investment Committee of the Company, as described in Section 11. 

  
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 2.9    Company 

“Company” means The Gap, Inc. or any successor organization or entity that assumes the Plan. 

2.10    Compensation 
 With respect to any Participant who is an Employee, “Compensation” means the Participant’s total remuneration from the Employer while the Participant is an Eligible Individual which, absent
a deferral election under the Plan, would have otherwise been received by the Employee in the taxable year (excluding bonuses and taxable and nontaxable fringe benefits, and excluding overtime and commission payments; provided, however, that
Compensation shall include vacation pay and vacation payouts, and all amounts contributed by an Employer pursuant to a salary reduction agreement which are not includable in the Employee’s gross income under sections 125, 132(f), or 402(e)(3)
of the Code) payable for pay periods commencing on or after the Effective Date; provided, however, that Compensation shall be determined for these purposes without regard to the dollar limitations in effect for qualified plans under
Section 401(a)(17) of the Code. With respect to any Participant who is a non-employee member of the Board, “Compensation” means all cash remuneration which, absent a deferral election under the Plan, would have otherwise been received
by the Board member in the taxable year, payable (for Fiscal Year quarters commencing after the Effective Date) to the Board member for service on the Board and on Board committees, including any cash payable for attendance at Board meetings and
Board committee meetings, but not including any amounts constituting reimbursements of expenses to Board members. 

2.11    Compensation Committee 
 “Compensation Committee” means the Compensation and Management Development Committee of the Company. 
 2.12    Compensation Deferrals 
 “Compensation
Deferrals” means the amounts credited to a Participant’s Compensation Deferral Account pursuant to the Participant’s election made in accordance with subsection 4.1. 

2.13    Continuous Service 
 The term “Continuous Service” shall have the meaning assigned to such term in the GapShare 401(k) Plan. 
 2.14    Effective Date 
 “Effective Date”
means January 1, 2006. 

  
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 2.15    Eligible Individual 

“Eligible Individual” means each non-employee member of the Board or Employee of an Employer who satisfies the requirements set
forth in Section 3. With respect to Employees, “Eligible Individual” does not include any Employee who is employed in a country other than the United States of America (“U.S.”) unless he: (i) has been temporarily
transferred to employment with the Employers in a non-U.S. country; (ii) is a citizen or resident alien of the U.S. at the time of the transfer; and (iii) remains on the U.S. payroll. 

2.16    Employee 
 “Employee” means a person who is employed by an Employer, is on the Employer’s regular payroll, and is treated and/or classified by the Employer as a common law employee for purposes of
wage withholding for Federal income taxes. If a person is not considered to be an Employee of the Employer in accordance with the preceding sentence, a subsequent determination by the Employer, any governmental agency, or a court that the person is
a common law employee of the Employer, even if such determination is applicable to prior years, will not have a retroactive effect for purposes of eligibility to participate in the Plan. 

2.17    Employer 
 “Employer” means The Gap, Inc. and any affiliate or subsidiary of the Company as defined in Subsections 414(b) and (c) of the Code that has adopted the Plan on behalf of its Eligible
Individuals with the consent of the Company. 
 2.18    ERISA 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended. Reference to a specific section of ERISA shall
include such section, any valid regulation promulgated thereunder, and any comparable provision of any future legislation amending, supplementing, or superseding such section. 
 2.19    Gap Stock Fund 
 “Gap Stock Fund”
means an Investment Fund offered under the Plan having a notional investment return based on the performance of the common stock of the Company, in accordance with rules and procedures established by the Committee. Effective January 1, 2009,
the Gap Stock Fund shall be frozen and no new notional investments shall be made to the Gap Stock fund after December 31, 2008. Effective January 1, 2009, a Participant shall not be permitted to elect to transfer additional amounts into
the Gap Stock Fund. The Gap Stock Fund shall be liquidated on March 2, 2009. 
 2.20    Investment
Funds 
 “Investment Funds” means the notional funds or other investment vehicles designated pursuant to subsection
5.1. 

  
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 2.21    Matching Contributions 

“Matching Contributions” means the amounts credited to a Participant’s Matching Contribution Account under the Plan by the
Employer, in accordance with subsection 4.3. 
 2.22    Participant 

“Participant” means an Eligible Individual who meets the requirements of Section 3 and elects to make Compensation
Deferrals pursuant to Section 4. By becoming a Participant and making deferrals under this Plan, each Participant agrees to be bound by the provisions of the Plan and the determinations of the Company and the Committee hereunder. 

2.23    Plan 
 “Plan” means the Gap Inc. Deferred Compensation Plan, as set forth in this instrument and as hereafter amended from time to time. 

2.24    Plan Year/Plan Year Quarter/Fiscal Year 

“Plan Year” means each 12-month period beginning January 1 and ending the following December 31. “Plan Year
Quarter” means each three-month period ending March 31, June 30, September 30 and December 31. “Fiscal Year” means the fiscal year of the Company. 

2.25    Retirement 
 “Retirement” for purposes of this Plan means, with respect to an Employee Participant, the Participant’s separation from service (within the meaning of Section 409A of the Code and the
regulations, notices and other guidance thereunder) with the Employers, the Company and any subsidiary or affiliate of the Company as defined in Sections 414(b) and (c) of the Code after attaining age 50, and, with respect to a
non-employee Board member Participant, the Participant’s resignation or removal from the Board after attaining age 50. 

2.26    Social Security Taxable Wage Base 

“Social Security Taxable Wage Base” means the maximum amount of earnings subject to payroll taxes in a given year, as announced
annually by the Social Security Administration. 
 2.27    Spouse 

“Spouse” means the person to whom a Participant is legally married under applicable state law at the earlier of the date of the
Participant’s death or the date payment of the Participant’s benefits commenced and who is living on the date of the Participant’s death. 
 2.28    Termination Date 
 “Termination Date”
means, with respect to an Employee Participant, the date on which the Participant has a separation from service (within the meaning of Section 409A of the Code 

  
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and the regulations, notices and other guidance thereunder, including death) with the Employers, the Company and any subsidiary or affiliate of the Company, and, with respect to a non-employee
Board member Participant, the date on which the Board member resigns, is removed or otherwise terminates service on the Board (including death). The date that an Employee’s performance of services for all the Employers is reduced to a level of
less than 20% of the average level of services performed in the preceding 36-month period, shall be considered a Termination Date, and the performance of services at a level of 50% or more of the average level of services performed in the preceding
36-month period shall not be considered a Termination Date. 
 2.29    Other Definitions 

Other defined terms used in the Plan shall have the meanings given such terms elsewhere in the Plan. 

  
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 SECTION 3    ELIGIBILITY AND PARTICIPATION 

3.1    Initial Eligibility 
 For each Plan Year, each (a) Employee of an Employer who is employed at the level of “director” or higher (as determined by the Company) and who has Compensation greater than 150% of the
Social Security Taxable Wage Base for the prior Plan Year, and (b) non-employee member of the Board shall be an Eligible Individual eligible to participate in the Plan while he is determined by the Company to satisfy the criteria described in
(a) immediately preceding, who is eligible to participate in the Plan by making a deferral election pursuant to Section 4. An Eligible Individual’s eligibility for any Plan Year shall be determined as of November 1 of the
preceding Plan Year, based on the Eligible Individual’s position and Compensation, and on the Social Security Taxable Wage Base in effect on that November 1 date. 
 With respect to an Employee who first becomes an Eligible Individual (by virtue of a promotion, Compensation increase, commencement of employment with the Employers, or any other reason), the
determination of such eligibility shall be based on the Employee’s position and Compensation in effect on the date of such initial eligibility, but shall be based on the Social Security Taxable Wage Base in effect during the preceding Plan
Year. 
 Each Eligible Individual’s decision to become a Participant shall be entirely voluntary. An Eligible Individual
who makes a deferral election pursuant to Section 4 shall become a Participant in the Plan. 

3.2    Cessation of Participation 
 If a Participant ceases to be an Eligible Individual, no further Compensation Deferrals, Bonus Deferrals (if applicable) or Matching Contributions (if applicable) shall be credited to the
Participant’s Accounts after the end of the Plan Year following the date the Participant ceases to be eligible, unless he is again determined to be an Eligible Individual, but the balance credited to his Accounts shall continue to be adjusted
for notional investment gains and losses under the terms of the Plan and shall be distributed to him at the time and manner set forth in Section 9. An Employee or Board member shall cease to be a Participant after his Termination Date or other
loss of eligibility as soon as his entire Account balance has been distributed. 
 3.3    Eligibility for
Matching Contributions 
 An Employee Participant who has satisfied the length-of-service requirements necessary to become an
“Eligible Employee” under the GapShare 401(k) Plan, and who has made a Compensation Deferral election pursuant to subsection 4.1 herein, shall be eligible to receive Matching Contributions described in subsection 4.3. 

  
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 SECTION 4    DEFERRALS AND CONTRIBUTIONS 

4.1    Compensation Deferrals 
 Each Plan Year, an Eligible Individual may elect to defer receipt (in increments of one percent) of up to 75 percent (with respect to Employee Eligible Individuals) or 100 percent (with respect to
non-employee Board member Eligible Individuals) of his Compensation (or such other percentages as determined by the Company) earned with respect to pay periods beginning on and after the effective date of the election (or, in the case of
non-employee Board member Eligible Individuals, Compensation earned with respect to Fiscal Year quarters beginning on and after the effective date of the election); provided, however, that Compensation earned prior to the date the Participant
satisfies the eligibility requirements of Section 3 shall not be eligible for deferral under this Plan. In the case of an Employee, or non-employee Board member who is rehired (or who recommences Board Service) after having previously been an
Eligible Individual, the phrase “first becomes an Eligible Individual” in the first sentence of the preceding paragraph shall be interpreted to apply only where the Eligible Individual is rehired (or recommences Board Service or
recommences providing services to an Employer) at least 24 months after his last day as a previously Eligible Individual prior to again becoming such an Eligible Individual. In all other cases such rehired Employee or Board Member may not elect to
make Compensation Deferrals until the next date determined by the Company with respect to Compensation earned after the following January 1. Similarly, in the case of an Employee who recommences status as an Eligible Individual for any other
reason after having previously lost his status as an Eligible Individual (due to Compensation fluctuations, transfer from an ineligible location or job classification, or otherwise), the phrase “first becomes an Eligible Individual” shall
be interpreted to apply only where the Eligible Individual regains his status as an Eligible Individual at least 24 months after his last day as a previously Eligible Individual prior to again becoming such an Eligible Individual. In all other cases
such Re-Eligible Participant may not elect to make Compensation Deferrals until the next date determined by the Company with respect to Compensation earned after the following January 1. Except as otherwise provided in this subsection, a
Participant’s deferral election for a Plan Year under this subsection must be made not later than December 31 of the preceding Plan year with respect to Compensation earned during the first payroll period of the next calendar year
(considered for purposes of the Plan to be the payroll period containing December 31 of the prior year) or, in the case of Board Members, Compensation earned in fiscal year quarters beginning on and after January 1 of the following
calendar year. An Employee or non-employee Board member who first becomes an Eligible Individual after the Effective Date (by virtue of a promotion, Compensation increase, commencement of employment with the Employers, commencement of Board service,
or any other reason) shall be provided enrollment documents (including deferral election forms) with respect to his Compensation as soon as administratively feasible following such initial eligibility. Such Eligible Individual shall be
permitted to defer his Compensation earned in the pay period (as soon as administratively practicable) (or, in the case of non-employee Board members, his Compensation earned in the Fiscal Year quarter) that begins following receipt of his properly
completed election forms by the Company or its designee. Any such deferral election under this subsection must be made within 30 days of the date the Employee or Board Member first becomes an Eligible Individual; provided, however, that the date
that an Employee or Board 

  
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Member first becomes Eligible for the Plan shall be determined based on proper notification of the Employee or Board Member by the Company in accordance with procedures determined by the Company.
If an Eligible Individual does not elect to make Compensation Deferrals during that initial 30-day period, he may not elect to make Compensation Deferrals until the next date determined by the Company with respect to Compensation earned after the
following January 1 (or, in the case of non-employee Board members, with respect to Compensation earned in the Fiscal Year quarter beginning after the following January 1). 

An election to make Compensation Deferrals under this subsection 4.1 shall be irrevocable, and shall remain in effect for Compensation
earned during the last payroll period ending on or before December 30 of the calendar year to which the election applies while the Participant is an Eligible Individual (or, in the case of non-Employee Board members, for Compensation earned
through the Fiscal Year quarter that ends on or after December 31 of the calendar year to which the election applies). If a Participant fails to make a Compensation Deferral election for a given Plan Year, such Participant’s Compensation
Deferral election for that Plan Year shall be deemed to be zero. 
 4.2    Bonus Deferrals

 Each Plan Year, an Eligible Individual who is an Employee may elect to defer receipt (in increments of one percent) of up
to 90 percent (or such other percentage as determined by the Company) of his Bonus for the next following Bonus “performance period” (generally a period of six months or longer, in which the Employee performs the services forming the basis
for the Bonus) that begins in the Plan Year following the Plan Year of the Employee’s election. A Participant’s Bonus deferral election with respect to a Plan Year must be made at a time and in a manner determined by the Company, in its
sole discretion, but in no event shall the deferral election be made later than December 31 of the preceding Plan Year. Notwithstanding the foregoing, effective January 1, 2008, an Employee who first becomes an Eligible Individual during a
Plan Year by virtue of commencement of employment with the Employers shall be permitted to make a Bonus Deferral election to defer receipt of up to 90 percent (or such other amount as determined by the Company) of his Bonus (other than his Sign-on
Bonus) into the Plan, but only if he makes such election within 30 days of first becoming an Eligible Individual. In case such Bonus Deferral election in the first year of eligibility described in the preceding sentence is made after the beginning
of the Bonus performance period, the Bonus Deferral election will apply only to the portion of the Bonus equal to the total amount of the Bonus for the performance period multiplied by the ratio of the number of days remaining in the performance
period after the effective date of the Bonus Deferral election over the total number of days in the performance period. If an Eligible Individual does not elect to make a Bonus Deferral election during that initial 30-day period, he may not later
elect to make an election for that performance period under this subsection. Notwithstanding the foregoing, an Employee who first becomes an Eligible Individual by virtue of commencement of employment with the Employers and who is eligible to
receive a Sign-on Bonus shall be permitted to defer receipt of up to 90 percent (or such other amount as determined by the Company) of his Sign-on Bonus into the Plan, but only if he makes such election within 30 days of the date he first becomes an
Eligible Individual. In the event that a Participant’s Sign-on Bonus is revoked, rescinded or forfeited in accordance with 

  
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rules established by the Company, any amount of such Sign-on Bonus deferred into the Plan, adjusted for any notional earnings or losses thereon, shall be forfeited from such Participant’s
Account, and shall be applied to offset the Employers’ Matching Contributions required in succeeding Plan Years or shall be returned to the applicable Employer, at the Company’s discretion. The Company may establish procedures to limit the
Investment Fund options available to a Participant with respect to Sign-on Bonus deferrals. 
 An election to make Bonus
Deferrals under this subsection 4.2 shall be irrevocable and shall remain in effect through the end of the applicable Bonus performance period. If a Participant fails to make a Bonus Deferral election for a given Plan Year, such Participant’s
Bonus Deferral election for that Plan Year shall be deemed to be zero. 
 4.3    Matching Contributions

 Matching Contributions shall be credited to the Matching Contribution Accounts of Employee Participants who have satisfied
the requirements of subsection 3.3 and in accordance with the requirements of this subsection 4.3. The amount of any such Matching Contribution with respect to a Participant shall be equal to the Participant’s Compensation Deferrals, but in no
event greater than 4% of such amount of the Participant’s Compensation (earned while the Participant satisfies the eligibility requirements under Section 3 of the Plan and under the GapShare 401(k) Plan) that exceeds the annual
compensation limits provided under Code Section 401(a)(17) ($220,000 in 2006). 
 Any Matching Contributions made on behalf
of Employee Participants under this Plan shall be credited to such Employee Participants’ Matching Contribution Accounts on an annual basis, as soon as administratively feasible after December 31 of the Plan Year, but only with respect to
Employee Participants employed by an Employer on the last day of the applicable Plan Year. Notwithstanding the foregoing, effective September 1, 2011, Matching Contributions will also be payable as described in this subsection 4.3 to
Participants not employed on the last day of the applicable Plan Year if, as of that date, the Participant is on an Employer’s payroll pursuant to a severance pay arrangement, or the Participant retired from service from the Employers in the
applicable Plan Year after attaining age sixty (60) with five (5) years of Continuous Service. 

4.4    No Election Changes During Plan Year 

A Participant shall not be permitted to change or revoke his deferral elections. If a Participant’s status changes such that he
becomes ineligible for the Plan during a Plan Year, the Participant’s deferrals under the Plan shall continue through the end of such Plan Year, as described in subsection 3.2. 

4.5    Crediting of Deferrals 
 The amount of deferrals pursuant to subsections 4.1 and 4.2 shall be credited to the Participant’s Accounts as of a date not later than 15 business days after the date on which the amount (but for
the deferral) otherwise would have been paid to the Participant. 

  
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 4.6    Reduction of Deferrals or Contributions 

Any deferrals or contributions to be credited to a Participant’s Account under this Section may be reduced by an amount equal to the
Federal or state income, payroll, or other taxes required to be withheld on such deferrals or contributions or to satisfy any necessary employee welfare plan contributions. A Participant shall be entitled only to the net amount of such deferral or
contribution (as adjusted from time to time pursuant to the terms of the Plan). 

  
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 SECTION 5    NOTIONAL INVESTMENTS 

5.1    Investment Funds 
 The Committee may designate, in its discretion, one or more Investment Funds for the notional investment of Participants’ Accounts. The Committee, in its discretion, may from time to time establish
new Investment Funds or eliminate existing Investment Funds. The Investment Funds are for recordkeeping purposes only and do not allow Participants to direct any Company assets (including, if applicable, the assets of any trust related to the Plan).
Each Participant’s Accounts shall be adjusted pursuant to the Participant’s notional investment elections made in accordance with this Section 5, except as otherwise determined by the Committee in its sole discretion. Effective as of
the beginning of business on January 1, 2009, the Gap Stock Fund shall be frozen and no new notional investments shall be made to the Gap Stock Fund after December 31, 2008. The Gap Stock Fund shall be discontinued and liquidated as
described in subsection 5.2 of the Plan. 
 5.2    Investment Fund Elections 

A Participant may elect from among the Investment Funds for the notional investment of his Accounts from time to time in accordance with
procedures established by the Company. The Company, in its discretion, may adopt (and may modify from time to time) such rules and procedures as it deems necessary or appropriate to implement the notional investment of the Participant’s
Accounts. Such procedures may differ among Participants or classes of Participants, as determined by the Company in its discretion. The Company may limit, delay or restrict the notional investment of certain Participants’ Accounts in accordance
with Committee rules in order to comply with Company policy and applicable law or to minimize regulated filings and disclosures. Any deferred amounts subject to a Participant’s investment election that must be so limited, delayed or restricted
under such circumstances may be notionally invested in an Investment Fund designated by the Committee, or may be credited with earnings at a rate determined by the Committee, which rate may be zero. A Participant’s notional investment election
shall remain in effect until later changed in accordance with the rules of the Company. If a Participant does not make a notional investment election, all deferrals by the Participant and contributions on his behalf will be deemed to be notionally
invested in the Investment Fund designated by the Committee for such purpose. Notwithstanding the foregoing and any other provision of the Plan to the contrary, amounts subject to a Participant’s notional investment election to defer amounts
into the Gap Stock Fund after December 31, 2008 shall be notionally invested in the RiverSource Cash Management Fund, and shall be credited with notional interest through March 1, 2009. Amounts remaining in the RiverSource Cash Management
Fund or any amounts remaining in the Gap Stock Fund shall be liquidated and automatically transferred into the American Funds Balanced Fund on or as soon as administratively feasible after March 2, 2009. 

5.3    Investment Fund Transfers 
 A Participant may elect that all or a part of his notional interest in an Investment Fund shall be transferred to one or more of the other Investment Funds. A Participant may make such

  
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notional Investment Fund transfers in accordance with rules established from time to time by the Company, and in accordance with subsection 5.2. Effective January 1, 2009, a Participant
shall not be permitted to elect to transfer additional amounts into the Gap Stock Fund. If a Participant does not make an election to transfer amounts out of the Gap Stock Fund prior to March 1, 2009, the Participant’s Accounts invested in
the Gap Stock Fund or the RiverSource Cash Management Fund shall be transferred to the American Funds Balanced Fund on or as soon as administratively feasible after March 2, 2009. 

  
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 SECTION 6    ACCOUNTING 

6.1    Individual Accounts 
 The Company will maintain in the name of each Participant, as applicable, the following Accounts, and any subaccounts under such Accounts deemed necessary or advisable by the Company from time to time:

  

	 	(a)	Compensation Deferral Account. A Compensation Deferral Account to reflect the Participant’s Compensation Deferrals and the notional gains, losses, expenses,
appreciation and depreciation attributable thereto. 

  

	 	(b)	Bonus Deferral Account. A Bonus Deferral Account to reflect the Participant’s Bonus Deferrals, if applicable, and the notional gains, losses, expenses,
appreciation and depreciation attributable thereto. 

  

	 	(c)	Matching Contribution Account. A Matching Contribution Account to reflect the Matching Contributions credited on behalf of the Participant, if applicable, and the
notional gains, losses, expenses, appreciation and depreciation attributable thereto. 

 The Company may establish such rules and
procedures relating to the maintenance, adjustment, and liquidation of Participants’ Accounts, the crediting of deferrals and contributions and the notional gains, losses, expenses, appreciation, and depreciation attributable thereto, as it
considers necessary or advisable. In addition to the Accounts described above, the Company may maintain other Accounts or subaccounts in the names of Participants or otherwise as the Company considers necessary or desirable. 

6.2    Adjustment of Accounts 
 Pursuant to rules established by the Company and applied on a uniform basis, Participants’ Accounts will be adjusted on each Accounting Date, except as provided in Section 9, to reflect the
value of the various Investment Funds as of such date, including adjustments to reflect any deferrals and contributions, notional transfers between Investment Funds, and notional gains, losses, expenses, appreciation, or depreciation with respect to
such Accounts since the previous Accounting Date. The “value” of an Investment Fund at any Accounting Date shall be based on the fair market value of the Investment Fund, as determined by the Company. 

6.3    Accounting Methods 
 The accounting methods or formulae to be used under the Plan for purposes of monitoring Participants’ Accounts, including the calculation and crediting of notional gains, losses, expenses,
appreciation, or depreciation, shall be determined by the Company in its sole discretion. The accounting methods or formulae selected by the Company may be revised from time to time. 

  
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 6.4    Statement of Account 

At such times and in such manner as determined by the Company, but at least annually, each Participant will be furnished with a statement
reflecting the condition of his Accounts. 

  
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 SECTION 7    VESTING 

A Participant shall be fully vested at all times in his Compensation Deferral Account, Bonus Deferral Account (if applicable) and
Matching Contribution Account (if applicable), except as otherwise provided in subsection 4.2 with respect to Sign-on Bonuses, which are subject to a one-year vesting period. 
 Neither the Company nor the Employers in any way guarantee the Participant’s Account balance from loss or depreciation. Notwithstanding any provision of the Plan to the contrary, the
Participant’s Account balance is subject to Section 8. 

  
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 SECTION 8    FUNDING 

No Participant or other person shall acquire by reason of the Plan any right in or title to any assets, funds, or property of the
Employers whatsoever, including, without limiting the generality of the foregoing, any specific funds, assets, or other property of the Employers. Benefits under the Plan are unfunded and unsecured. A Participant shall have only an unfunded,
unsecured right to the amounts, if any, payable hereunder to that Participant. The Employers’ obligations under this Plan are not secured or funded in any manner, even if the Company elects to establish a trust with respect to the Plan. Even
though benefits provided under the Plan are not funded, the Company may establish a trust to assist in the payment of benefits. All investments under this Plan are notional and do not obligate the Employers (or their delegatees) to invest the assets
of the Employers or of any such trust in a similar manner. 

  
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 SECTION 9    DISTRIBUTION OF ACCOUNTS 

9.1    Distribution of Accounts Prior to Retirement Date 

With respect to any Participant who has a Termination Date that precedes his Retirement date, an amount equal to the Participant’s
Accounts (including the Compensation Deferral Account, the Bonus Deferral Account, the Matching Contribution Account, and all notional earnings thereon) shall be distributed to the Participant (or, in the case of the Participant’s death, to the
Participant’s Beneficiary), in the form of a single lump sum payment. Subject to subsection 9.3 hereof, it is the Company’s intention to distribute a Participant’s Accounts payable in a lump sum under this subsection 9.1 on the first
day of the fourth month following the Participant’s Termination Date, or, if calculation of the amount of the payment is not administratively practicable due to events beyond the control of the Participant or his beneficiary, during the first
calendar year in which the calculation of the amount is administratively practicable. Notwithstanding any provision of the Plan to the contrary, for purposes of this Subsection, a Participant’s Accounts shall be valued as of an Accounting Date
as soon as administratively feasible preceding the date such distribution is made, in accordance with rules established by the Company. 
 Notwithstanding the foregoing: 
 (a) In-Service Distribution Elections. A
Participant who is an Employee may elect, in accordance with this Subsection, a distribution date for his Bonus Deferral and Compensation Deferral Accounts that is prior to his Termination Date (an “in-service distribution”). A
Participant’s election of an in-service distribution date must: (i) be made at the time of his Bonus and Compensation Deferral election for a Plan Year; (ii) apply only to amounts deferred pursuant to that election; and (iii) be
irrevocable. Effective for each Plan Year commencing on or after January 1, 2012, a Participant may not elect a separate in-service distribution date with respect to a particular Plan Year’s Bonus Deferrals than with respect to a
particular Plan Year’s Compensation Deferrals. The applicable in service distribution date must not be earlier than five (5) years following the later of (i) the Plan Year in which the applicable Bonus would have been paid absent the
deferral and (ii) the Plan Year in which the applicable Compensation would have been paid absent the deferral, or as further determined or limited in accordance with rules established by the Committee. In no event shall a Participant be
permitted to elect an in-service distribution of his Matching Contribution Account. 
 (b) Board Compensation Deferrals. A
Participant who is a non-employee Board member may elect, in accordance with Section 4, to elect a distribution date for his Compensation Deferral Account for any Plan Year that is prior to his Termination Date. A Participant’s election of
a date under this subsection (b) must: (i) be made at the time of his Compensation Deferral election for a Plan Year; (ii) apply only to amounts deferred pursuant to that election; and (iii) be irrevocable. Such in-service
distribution date must not be earlier than five (5) years following the Plan Year in which such Compensation would have been paid to him absent the deferral, or as further determined or limited in accordance with rules established by the
Company. 

  
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 Subject to subsection 9.3 hereof, it is the intention of the company to make payments pursuant to an
in-service distribution election under subparagraphs (a) or (b) of this subsection 9.1 by the end of the calendar year in which the payment was elected to be made, or, if calculation of the amount of the payment is not administratively
practicable due to events beyond the control of the Participant or his beneficiary, during the first calendar year in which the calculation of the amount is administratively practicable. For purposes of such payment, the value of the
Participant’s Accounts for the applicable Plan Year shall be determined as of an Accounting Date preceding the date that such distribution is made, in accordance with rules established by the Company. In the event a Participant’s
Termination Date occurs prior to the date the Participant had previously elected to have an in-service distribution payment made to him, such amount shall be paid to the Participant in a single lump sum in accordance with this subsection 9.1.

 9.2    Distribution of Accounts After Retirement Date 

A Participant may elect to receive payments from his Accounts in the form of a single lump sum, as described in Section 9.1, or in
annual installments for 5, 10, or 15 years. Such election shall not be effective if the Participant’s Termination Date occurs before he reaches his Retirement date (age 50). Subject to subsection 9.3 hereof, it is the Company’s intention
to distribute a Participant’s Accounts payable in a lump sum under this subsection 9.2 on the first day of the fourth month following the Participant’s Termination Date, or, if calculation of the amount of the payment is not
administratively practicable due to events beyond the control of the Participant or his beneficiary, during the first calendar year in which the calculation of the amount is administratively practicable. To the extent a Participant fails to make an
election, the Participant shall be deemed to have elected to receive his distribution for that Plan Year in the form of a single lump sum. Effective for each Plan Year commencing on or after January 1, 2012, a Participant may not make a
separate election with respect to his Bonus Deferrals for each Plan Year (as adjusted for gains and losses thereon) that provides for a different method of distribution from the method of distribution he elects with respect to his Compensation
Deferrals (as adjusted for gains and losses thereon) for that Plan Year. The Participant’s Matching Contributions Account attributable to such Plan Year, if any (as adjusted for gains and losses thereon), shall be distributed in the same manner
as his Compensation Deferral Account for such Plan Year. 
  

	 	(a)	Installment Elections. A Participant will be required to make his distribution election prior to the commencement of each Plan Year. 

 

	 	(b)	 Installment Payments. It is the intention of the Company to make the first installment payment by the end of the calendar year in which occurs
the Participant’s Retirement Date or death, or, if calculation of the amount of the payment is not administratively practicable due to events beyond the control of the Participant or his beneficiary, during the first calendar year in which the
calculation of the amount is administratively practicable. Succeeding payments shall be made by the end of each succeeding calendar year, or as soon as administratively feasible for the Company to make such payment. The amount to

  
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be distributed in each installment payment shall be determined by dividing the value of the Participant’s Accounts as of an Accounting Date preceding the date of each distribution by the
number of installment payments remaining to be made, in accordance with rules established by the Company. In the event of the death of the Participant prior to the full payment of his Accounts, payments will continue to be made to his Beneficiary in
the same manner and at the same time as would have been payable to the Participant, but substituting the Participant’s date of death for the Participant’s Retirement Date. 

9.3    Key Employees 
 Notwithstanding anything herein to the contrary, and subject to Code Section 409A, payment shall not be made or commence as a result of the Participant’s Termination Date to any Participant who
is a key employee (defined below) before the date that is not less than six months after the Participant’s Termination Date. For this purpose, a key employee includes a “specified employee” (as defined in Code
Section 409A(a)(2)(B)) during the entire 12-month period determined by the Company ending with the annual date upon which key employees are identified by the Company, and also including any Employee identified by the Company in good faith with
respect to any distribution as belonging to the group of identified key employees, to a maximum of 200 such key employees, regardless of whether such Employee is subsequently determined by the Employer, any governmental agency, or a court not to be
a key employee. In the event amounts are payable to a key employee in installments in accordance with subsection 9.2, the first installment shall be delayed by six months, with all other installment payments payable as originally scheduled. The
identification date for determining key employees shall be each December 31 (and the new key employee list shall be updated and effective each subsequent April 1). 
 9.4    Mandatory Cash-Outs of Small Amounts 
 If the
value of a Participant’s total Accounts equals the applicable dollar amount under Section 402(g) of the Code, or less at his Termination Date (or his death), or at any time thereafter, the Accounts will be paid to the Participant (or, in
the event of his death, his Beneficiary) in a single lump sum, notwithstanding any election by the Participant otherwise. Subject to subsection 9.3 hereof, it is the Company’s intention to distribute a Participant’s Accounts payable in a
lump sum under this subsection 9.4 on the first day of the fourth month following the Participant’s Termination Date, or, if calculation of the amount of the payment is not administratively practicable due to events beyond the control of the
Participant or his beneficiary, during the first calendar year in which the calculation of the amount is administratively practicable. 
 9.5    Designation of Beneficiary 
 Each Participant
from time to time may designate any individual, trust, charity or other person or persons to whom the value of the Participant’s Accounts will be paid in the event the Participant dies before receiving the value of all of his Accounts. A
Beneficiary designation must be made in the manner required by the Company for this purpose. Primary and secondary 

  
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Beneficiaries are permitted. A married participant designating a Beneficiary other than his Spouse must obtain the consent of his Spouse to such designation (in accordance with rules determined
by the Company). Payments to the Participant’s Beneficiary(ies) shall be made in accordance with subsection 9.1, 9.2 or 9.4, as applicable, after the Company has received proper notification of the Participant’s death. 

A Beneficiary designation will be effective only when the Beneficiary designation is filed with the Company while the Participant is
alive, and a subsequent Beneficiary designation will cancel all of the Participant’s Beneficiary designations previously filed with the Company. Any designation or revocation of a Beneficiary shall be effective as only if it is received by the
Company. Once received, such designation shall be effective as of the date the designation was executed, but without prejudice to the Company on account of any payment made before the change is recorded by the Company. If a Beneficiary dies before
payment of the Participant’s Accounts have been made, the Participant’s Accounts shall be distributed in accordance with the Participant’s Beneficiary designation and pursuant to rules established by the Company. If a deceased
Participant failed to designate a Beneficiary, or if the designated Beneficiary predeceases the Participant, the value of the Participant’s Accounts shall be payable to the Participant’s Spouse or, if there is none, to the
Participant’s estate, or in accordance with such other equitable procedures as determined by the Company. 

9.6    Reemployment 
 If a former Participant is rehired by an Employer, the Company or any affiliate or subsidiary of the Company described in Section 414(b) and (c) of the Code, regardless of whether he is rehired
as an Eligible Individual (with respect to an Employee Participant), or a former Participant returns to service as a Board member, any payments being made to such Participant hereunder by virtue of his previous Termination Date shall continue. If a
former Participant is rehired by the Employer (with respect to an Employee Participant) or returns to service as a Board member, and in either case any payments to be made to the Participant by virtue of his previous Termination Date have not been
made or commenced, such Participant shall no longer be entitled to such payments until his subsequent Termination Date. 

9.7    Special Distribution Rules 
 Except as otherwise provided herein and in Section 12, Account balances of Participants in this Plan shall not be distributed earlier than the applicable date or dates described in this
Section 9. Notwithstanding the foregoing, in the case of payments: (i) the deduction for which would be limited or eliminated by the application of Section 162(m) of the Code; (ii) that would violate securities or other
applicable laws; or (iii) that would violate loan covenants or other contractual terms to which an Employer is a party, where such a violation would result in material harm to an Employer; the payment may be delayed in the discretion of the
Company. In the case of a payment described in (i) above, the payment must be deferred either to a date in the first year in which the Company reasonably anticipates that a payment of such amount would not result in a limitation of a deduction
with respect to the payment of such amount under Section 162(m), or the year in which the Participant’s Termination Date occurs. In the case of a payment described in (ii) or (iii) above, payment will be made in the first
calendar year in which the 

  
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Company reasonably anticipates that the payment would not violate loan or other similar contractual terms, the violation would not result in material harm to an Employer, or the payment would not
result in a violation of securities or other applicable laws. Payments intended to pay employment taxes or payments made as a result of income inclusion of an amount in a Participant’s Accounts as a result of a failure to satisfy
Section 409A of the Code shall be permitted at the Company’s discretion at any time and to the extent provided in Proposed Treasury Regulations under Section 409A of the Code and IRS Notice 2005-1, Q&A-15, and any applicable
subsequent guidance. “Employment taxes” shall include Federal Income Contributions Act (FICA) tax imposed under Sections 3101 and 3121(v)(2) of the Code on compensation deferred under the Plan (the “FICA Amount”), the income tax
imposed under Section 3401 of the Code on the FICA Amount, and to pay the additional income tax under Section 3401 of the Code attributable to the pyramiding Section 3401 wages and taxes. 

  
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 SECTION 10    GENERAL PROVISIONS 

10.1    Interests Not Transferable 
 The interests of persons entitled to benefits under the Plan are not subject to their debts or other obligations and, except as may be required by the tax withholding provisions of the Code or any
state’s income tax act, may not be voluntarily or involuntarily sold, transferred, alienated, assigned, or encumbered. A Participant’s interest in the Plan is not transferable pursuant to a qualified domestic relations order. 

10.2    Employment Rights 
 The Plan does not constitute a contract of employment, and participation in the Plan shall not give any Employee the right to be retained in the employ of an Employer, nor any right or claim to any
benefit under the Plan, unless such right or claim has specifically accrued under the terms of the Plan. The Employers expressly reserve the right to discharge any Employee at any time. 

10.3    Litigation by Participants or Other Persons 

If a legal action begun against the Committee (or any member or former member thereof), an Employer, or any person or persons to whom an
Employer or the Committee has delegated all or part of its duties hereunder, by or on behalf of any person results adversely to that person, or if a legal action arises because of conflicting claims to a Participant’s or other person’s
benefits, the cost to the Committee (or any member or former member thereof), the Employers or any person or persons to whom the Employer or the Committee has delegated all or part of its duties hereunder of defending the action shall be charged to
the extent permitted by law to the sums, if any, which were involved in the action or were payable to the Participant or other person concerned. 
 10.4    Evidence 
 Evidence required of anyone under the
Plan may be by certificate, affidavit, document, or other information which the person acting on it considers pertinent and reliable, and signed, made, or presented by the proper party or parties. 

10.5    Waiver of Notice 
 Any notice required under the Plan may be waived by the person entitled to such notice. 
 10.6    Controlling Law 
 Except to the extent
superseded by laws of the United States, the laws of the State of California shall be controlling in all matters relating to the Plan. 

  
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 10.7    Statutory References 

Any reference in the Plan to a Code section or a section of ERISA, or to a section of any other Federal law, shall include any comparable
section or sections of any future legislation that amends, supplements, or supersedes that section. 

10.8    Severability 
 In case any provision of the Plan shall be held illegal or invalid for any reason, such illegality or invalidity shall not affect the remaining provisions of the Plan, and the Plan shall be construed and
enforced as if such illegal and invalid provision had never been set forth in the Plan. 
 10.9    Action
by the Company, the Employers or the Committee 
 Any action required or permitted to be taken by the Company or any of the
Employers under the Plan shall be by resolution of its board of directors, by resolution or other action of a duly authorized committee of its board of directors, or by action of a person or persons authorized by resolution of its board of directors
or such committee. Any action required or permitted to be taken by the Committee under the Plan shall be by resolution or other action of the Committee or by a person or persons duly authorized by the Committee. 

10.10    Headings and Captions 
 The headings and captions contained in this Plan are inserted only as a matter of convenience and for reference, and in no way define, limit, enlarge, or describe the scope or intent of the Plan, nor in
any way shall affect the construction of any provision of the Plan. 
 10.11    Gender and Number

 Where the context permits, words in the masculine gender shall include the feminine and neuter genders, the singular shall
include the plural, and the plural shall include the singular. 
 10.12    Examination of Documents

 Copies of the Plan and any amendments thereto are on file at the office of the Company where they may be examined by any
Participant or other person entitled to benefits under the Plan during normal business hours. 

10.13    Elections 
 Each election or request required or permitted to be made by a Participant (or a Participant’s Spouse or Beneficiary) shall be made in accordance with the rules and procedures established by the
Company and shall be effective as determined by the Company. The Company’s rules and procedures may address, among other things, the method and timing of any elections or requests required or permitted to be made by a Participant (or a
Participant’s Spouse or Beneficiary). 

  
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 10.14    Manner of Delivery 

Each notice or statement provided to a Participant shall be delivered in any manner established by the Company and in accordance with
applicable law, including, but not limited to, electronic delivery. 
 10.15    Facility of Payment

 When a person entitled to benefits under the Plan is a minor, under legal disability, or, in the Company’s opinion,
is in any way incapacitated so as to be unable to manage his financial affairs, the Company may cause the benefits to be paid to such person’s guardian or legal representative. If no guardian or legal representative has been appointed, or if
the Company so determines in its sole discretion, payment may be made to any person as custodian for such individual under the California Uniform Transfers to Minors Act or other applicable state law, or to the legal representative of such person
for such person’s benefit, or the Company may direct the application of such benefits for the benefit of such person. Any payment made in accordance with the preceding sentence shall be a full and complete discharge of any liability for such
payment under the Plan. 
 10.16    Missing Persons 

The Employers and the Company shall not be required to search for or locate a Participant, Spouse, or Beneficiary. Each Participant,
Spouse, and Beneficiary must file with the Company, from time to time, in writing the Participant’s, Spouse’s, or Beneficiary’s post office address and each change of post office address. Any communication, statement, or notice
addressed to a Participant, Spouse, or Beneficiary at the last post office address filed with the Company, or if no address is filed with the Company, then in the case of a Participant, at the Participant’s last post office address as shown on
the Employer’s records, shall be considered a notification for purposes of the Plan and shall be binding on the Participant and the Participant’s Spouse and Beneficiary for all purposes of the Plan. 

If the Company is unable to locate the Participant, Spouse, or Beneficiary to whom a Participant’s Accounts are payable, the
Participant’s Accounts shall be frozen as of the date on which distribution would have been completed under the terms of the Plan, and no further notional investment returns shall be credited thereto. 

  
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 If a Participant whose Accounts were frozen (or his Beneficiary) files a claim for
distribution of the Accounts within 7 years after the date the Accounts are frozen, and if the Company determines that such claim is valid, then the frozen balance shall be paid by the Company to the Participant or Beneficiary in a lump sum cash
payment as soon as practicable thereafter. If the Company notifies a Participant, Spouse, or Beneficiary of the provisions of this Subsection, and the Participant, Spouse, or Beneficiary fails to claim the Participant’s, Spouse’s, or
Beneficiary’s benefits or make such person’s whereabouts known to the Company within 7 years after the date the Accounts are frozen, the benefits of the Participant, Spouse, or Beneficiary may be disposed of, to the extent permitted by
applicable law, by one or more of the following methods: 
  

	 	(a)	By retaining such benefits in the Plan. 

  

	 	(b)	By paying such benefits to a court of competent jurisdiction for judicial determination of the right thereto. 

 

	 	(c)	By forfeiting such benefits in accordance with procedures established by the Company. If a Participant, Spouse, or Beneficiary is subsequently located, such benefits
shall be restored (without adjustment) to the Participant, Spouse, or Beneficiary under the Plan. 

  

	 	(d)	By any equitable manner permitted by law under rules adopted by the Company. 

 10.17    Recovery of Benefits 
 In the event a
Participant, Spouse, or Beneficiary receives a benefit payment from the Plan that is in excess of the benefit payment that should have been made to such Participant, Spouse, or Beneficiary, or in the event a person other than a Participant, Spouse,
or Beneficiary receives an erroneous payment from the Plan, the Company shall have the right, on behalf of the Plan, to recover the amount of the excess or erroneous payment from the recipient. To the extent permitted under applicable law, the
Company may, at its option, deduct the amount of such excess or erroneous payment from any future benefits payable to the applicable Participant, Spouse, or Beneficiary. 
 10.18    Effect on Other Benefits 
 Except as otherwise
specifically provided under the terms of any other employee benefit plan of the Company, a Participant’s participation in this Plan shall not affect the benefits provided under such other employee benefit plan. 

10.19    Tax and Legal Effects 
 The Employers, the Committee, and their representatives and delegatees do not in any way guarantee the tax treatment of benefits for any Participant, Spouse, or Beneficiary, and the Employers, the
Committee, and their representatives and delegatees do not in any way guarantee or assume any responsibility or liability for the legal, tax, or other implications or effects of the Plan. In the event of any legal, tax, or other change that may
affect the Plan, the Company may, in its sole discretion, take any actions it deems necessary or desirable as a result of such change. 

  
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 SECTION 11    PLAN ADMINISTRATION 

11.1    Establishment of Committee 
 The Plan shall be administered by the Company. A Committee established by the Company, which as of May 8, 2006 is the US Savings Plan Investment Committee, shall be responsible for the duties
described in subsection 11.2 below. 
 11.2    Committee General Powers, Rights, and Duties

 Except as otherwise specifically provided herein, and in addition to the powers, rights and duties specifically given to
the Committee elsewhere in the Plan or otherwise delegated to the Committee by the Company or the Compensation and Management Development Committee, the Committee shall have the full power and authority for the establishment of an investment policy
for the Plan, and the selection, monitoring, and termination of notional investment options for the Plan, and such other powers, rights and duties as may be described from time to time in the Committee’s Charter. Except as otherwise
specifically provided herein, and in addition to the powers, rights and duties specifically given to the Company elsewhere in the Plan, the Company shall have the following powers, rights and duties, which shall be exercisable in the sole discretion
of the Company: 
  

	 	(a)	To adopt such rules, procedures, and regulations as in its opinion may be necessary for the proper and efficient administration of the Plan and as are consistent with
the Plan and to change, alter, or amend such rules, procedures, and regulations; 

  

	 	(b)	To construe and interpret the provisions of the Plan and make factual determinations thereunder; 

 

	 	(c)	To determine all questions arising in the administration of the Plan, including the power to determine the rights or eligibility of Employees or Participants or any
other persons, and the amounts of their benefits (if any) under the Plan, and to remedy ambiguities, inconsistencies, or omissions, and any such determination shall be binding on all parties; 

 

	 	(d)	To employ and suitably compensate such agents, attorneys, accountants, actuaries, recordkeepers, or other persons (who also may be employed by the Company) to render
advice and perform other services as the Company may deem necessary to carry out its powers, rights, and duties; 

  

	 	(e)	To the extent applicable, to direct payments or distributions in accordance with the provisions of the Plan; 

 

	 	(f)	To furnish the Employers with such information as may be required by them for tax or other purposes in connection with the Plan; 

  
 - 28 -

	 	(g)	To communicate the Plan and its requirements to Participants; 

  

	 	(h)	To take such actions as the Company may deem necessary or advisable to correct any errors in the operation of the Plan; and 

 

	 	(i)	To take such other actions as the Company may deem necessary for the proper administration and operation of the Plan in accordance with its terms.

 11.3    Interested Committee Member 

No member of the Committee who is also an Employee of an Employer shall be excluded from participating in the Plan if otherwise eligible.
If a member of the Committee (or one of its delegatees or designees) also is a Participant in the Plan, he may not decide or determine any matter or question concerning distributions of any kind to be made to him or her or the nature or mode of
settlement of his benefits unless such decision or determination could be made by him or her under the Plan if he were not serving on the Committee. 
 11.4    Compensation and Expenses 
 Unless paid by an
Employer, all reasonable costs, charges, and expenses incurred in the administration of this Plan, including expenses incurred by the Committee, compensation to an investment manager, and any compensation to agents, attorneys, actuaries,
accountants, recordkeepers, and other persons performing services on behalf of this Plan or for the Committee, may be drawn from (a) Participants’ Accounts, in the form of a flat fee or a percentage of the value of each Account,
(b) notional earnings or gains in each Investment Fund, or (c) an account maintained under a trust related to the Plan (if any). 
 11.5    Information Required by Company 
 Each person
entitled to benefits under the Plan must file with the Company from time to time in writing such person’s mailing address and each change of mailing address. Any communication, statement, or notice addressed to any person at the last mailing
address filed with the Company will be binding upon such person for all purposes of the Plan. Each person entitled to benefits under the Plan also shall furnish the Company with such documents, evidence, data, or information as the Company considers
necessary or desirable for the purposes of administering the Plan. The Employers shall furnish the Company with such data and information as the Company may deem necessary or desirable in order to administer the Plan. The records of the Employers as
to an Employee’s or Participant’s period of employment or membership on the Board, termination of employment or membership and the reason therefor, leave of absence, reemployment, and Compensation will be conclusive on all persons unless
determined to the Company’s satisfaction to be incorrect. 

  
 - 29 -

 11.6    Uniform Application of Rules 

The Company shall administer the Plan on a reasonable basis. Any rules, procedures, or regulations established by the Company shall be
applied uniformly to all persons similarly situated. 
 11.7    Review of Benefit Determinations

 Claims for benefits under the Plan shall be administered in accordance with Section 503 of ERISA, the regulations
thereunder, and such reasonable claims procedures as may be established by the Company. The Plan shall provide adequate notice to any Participant, Spouse, Beneficiary, or other claimant whose claim for benefits under the Plan has been denied,
setting forth the reasons for such denial, and shall afford such claimant a reasonable opportunity for a full and fair review. After exhaustion of the Plan’s claim procedures, any further legal action taken against the Plan or its fiduciaries
by the Participant, Spouse, or Beneficiary (or other claimant) for benefits under the Plan must be filed in a court of law no later than 120 days after the Company’s final decision regarding the claim. No action at law or in equity shall be
brought to recover benefits under this Plan until the appeal rights herein provided have been exercised and the Plan benefits requested in such appeal have been denied in whole or in part. All decisions and communications to Participants, Spouses,
Beneficiaries, or other persons regarding a claim for benefits under the Plan shall be held strictly confidential by the Participant, Spouse, or Beneficiary (or other claimant), and the Company, the Employers, and their agents. 

11.8    Company’s Decision Final 
 Benefits under the Plan will be paid only if the Company decides in its sole discretion that a Participant or Beneficiary (or other claimant) is entitled to them. Subject to applicable law, any
interpretation of the provisions of the Plan and any decisions on any matter within the discretion of the Company made by the Company or its delegate in good faith shall be binding on all persons. A misstatement or other mistake of fact shall be
corrected when it becomes known and the Company shall make such adjustment on account thereof as it considers equitable and practicable. 

  
 - 30 -

 SECTION 12    AMENDMENT AND TERMINATION 

While the Company expects and intends to continue the Plan, the Company reserves the right to amend the Plan at any time and for any
reason, including the right to amend this Section 12 and the Plan termination rules herein; provided, however, that each Participant will be entitled to the amount credited to his Accounts immediately prior to such amendment . The
Company’s power to amend the Plan includes (without limitation) the power to change the Plan provisions regarding eligibility, contributions, notional investments, vesting, and distribution forms, and timing of payments, including changes
applicable to benefits accrued prior to the effective date of any such amendment; provided, however, that amendments to the Plan (other than amendments relating to Plan termination) shall not cause the Plan to provide for acceleration of
distributions in violation of Section 409A of the Code and applicable regulations thereunder 
 The Company reserves the
right to terminate the Plan at any time and for any reason; provided, however, that each Participant will be entitled to the amount credited to his Accounts immediately prior to such termination (but such Accounts shall not be adjusted for future
notional income, losses, expenses, appreciation and depreciation). 
 In the event that the Plan is terminated pursuant to this
Section 12, the balances in affected Participants’ Accounts shall be distributed at the time and in the manner set forth in Section 9. Notwithstanding the foregoing, the Company reserves the right to make all such distributions within
the second twelve-month period commencing with the date of termination of the Plan; provided, however, that no such distribution will be made during the first twelve-month period following such date of Plan termination other than those that would
otherwise be payable under Section 9 absent the termination of the Plan. 
 IN WITNESS WHEREOF, the Company has signed this
Plan document, as amended and restated effective as of September 1, 2011 
  

			
	 The GAP, Inc

		
	By:	 	 /s/ Ken Kennedy

		 	Ken Kennedy
	Title: Vice President of Global Compensation, Benefits and Mobility

  
 - 31 -

 APPENDIX A 
 Merger of 
 The Gap, Inc. Executive Deferred Compensation Plan

 into 
 Gap Inc. Deferred Compensation Plan 
 (prior to June 30, 2009, known
as the Gap Inc. Supplemental Deferred Compensation Plan) 
 A-1.    Introduction. The Gap, Inc.
(the “Company”) maintains The Gap, Inc. Executive Deferred Compensation Plan (the “EDCP”) for the benefit of certain of its eligible employees. As of the close of business on June 30, 2009 (the “Merger Date”), the
EDCP shall be merged into and continued in the form of this Plan. 
 A-2.    Purpose. The purpose of
this Appendix A is to set forth special provisions which will apply under the Plan on and after June 30, 2009 to reflect the merger and resulting transfer of notional accounts of participants in the EDCP into the Plan on the Merger Date. The
Plan is designed to comply with the American Jobs Creation Act of 2004, as amended (the “Jobs Act”), and section 409A of the Code. The Plan is intended to conform to the requirements of the Jobs Act and section 409A of the Code, and final
Treasury Regulations issued thereunder, with respect to Non-Grandfathered amounts under the Plan. It is intended that the provisions of the Plan relating to the amounts merged into the Plan from the EDCP be interpreted for periods prior to
January 1, 2009 according to a good faith interpretation of the Jobs Act and section 409A of the Code, and consistent with published guidance thereunder, including, without limitation, IRS Notice 2005-1 and the proposed and final Treasury
Regulations under section 409A of the Code. Treatment of amounts deferred under the Plan pursuant to and in accordance with any transition rules provided under all IRS published guidance and other applicable authorities in connection with the Jobs
Act or section 409A of the Code, shall be expressly authorized hereunder and shall be administered in accordance with procedures established by the Company. In the event of any inconsistency between the terms of the Plan and the Jobs Act or section
409A of the Code with respect to Non-Grandfathered amounts, the terms of the Jobs Act and section 409A of the Code shall prevail and govern. “Grandfathered Amounts” shall mean the portion of the participant’s account balance under the
EDCP as of December 31, 2004, the right to which was earned and vested (within the meaning of Treasury Regulation §1.409A-6(a)(2)) as of December 31, 2004, plus the right to future contributions to the account the right to which was
earned and vested (within the meaning of Treasury Regulation. §1.409A-6(a)(2)) as of December 31, 2004, to the extent such contributions are actually made, each determined by reference to the terms of the EDCP in effect as of
October 3, 2004, but only to the extent such EDCP terms have not been materially modified (within the meaning of Treasury Regulation §1.409A-6(a)(4)) after October 3, 2004. Grandfathered Amounts shall include any earnings (within the
meaning of Treasury Regulation. §1.409A-1(o)) attributable thereto. “Non-Grandfathered Amounts” shall mean the Participant’s Account balance under the Plan less any portion of the Participant’s Account balance under the Plan
constituting Grandfathered Amounts. 

  
 - 32 -

 A-3.    Participation in the Plan. Each employee of the Company
who, immediately prior to the Merger Date, was a participant with an account under the EDCP (an “Appendix A Participant”) became a Participant with an Account under the Plan effective as of the Merger Date, in accordance with the
provisions of the Plan, as described in paragraph A-4 below. 
 A-4.    Prior Accounts.
Notional amounts credited to the notional accounts maintained under the EDCP for Appendix A Participants, as adjusted as of the Merger Date in accordance with the terms of the EDCP ( the “Prior Accounts”), will be credited to this Plan as
of the Merger Date, and shall be notionally invested in the corresponding Investment Funds under this Plan to the extent determined by the Investment Committee and, at the discretion of the Investment Committee, as directed by the Appendix A
Participant. Notwithstanding the foregoing, “Grandfathered Amounts” shall be held in separate “Grandfathered Accounts” and subaccounts to the extent deemed necessary and desirable by the Company. 

A-5.    Termination Date. The Termination Date with respect to an Appendix A Participant applicable to an
Appendix A Participant’s Grandfathered Amounts shall be the date on which the Appendix A Participant ceases to perform services with the Company and any affiliate. 
 A-6.    Former Participants. Former participants in the EDCP who terminated employment prior to the Merger Date but have not received payment in full of their vested Prior
Account balances by that date shall have their remaining Prior Account balances maintained under the Plan. Such former participants in the EDCP with Prior Account balances under the Plan (or, in case of their death, their beneficiaries) may direct
the notional investment of their Accounts pursuant to the provisions of the Plan until such Accounts are paid out in full and only for this purpose shall be treated as a “Participant” or a “Beneficiary”, as the case may be, under
the Plan. Until payment in full is made, the Prior Account balances shall be adjusted pursuant to the terms of the Plan. 

A-7.    Manner of Distribution. The elections made by participants under the EDCP with respect to the manner
of distribution of their Prior Account balances, plus notional appreciation, income, and earnings and minus notional depreciation and losses thereon (“Adjusted Prior Account Balances”) shall continue to apply to Adjusted Prior Account
Balances of Appendix A Participants under this Plan on and after the Merger Date. Upon the Participant’s Termination date, the unvested portion of such Account shall be permanently forfeited. 

A-8.    In-Service Withdrawals. With respect to Grandfathered Amounts, the Company, in its sole discretion and
notwithstanding any contrary provision of the Plan, may determine that all or part of the Appendix A Participant’s vested Prior Account shall be paid to him or her immediately as an in-service withdrawal; provided, however, that an amount equal
to ten percent of the total amount of the in-service withdrawal shall be withheld by the Company and permanently forfeited. Appendix A Participants shall be limited to one in-service withdrawal per Plan Year. 

A-9.    Timing of Distributions. Adjusted Prior Account Balances of Appendix A Participants shall be
distributed pursuant to the terms of this Plan. Notwithstanding the 

  
 - 33 -

 
foregoing, with respect to Grandfathered Amounts, distributions shall be made as soon as practicable following an Appendix A Participant’s Termination Date. Installment payments shall be
made as soon as practicable following an Appendix A Participant’s Retirement date (age 50) or death, with respect to Grandfathered Amounts. Payments made pursuant to an in-service distribution election with respect to Grandfathered Amounts
shall be made on or before the last working day of April of the plan year in which such payment was elected to be made. Within the specific time periods described in this Appendix A, the Company shall have sole discretion to determine the specific
timing of the payment of any Grandfathered Amounts under the Plan. The provisions of subsection 5.4 of the Plan shall apply only to Non-Grandfathered Amounts for Appendix A Participants. 

A-10.    Use of Terms. Terms used in this Appendix A with respect to the Plan shall, unless defined in this
Appendix A, have the meanings of those terms as defined in the Plan. All of the terms and provisions of the Plan shall apply to this Appendix A. 

  
 - 34 -Agreement and General Release

 Exhibit 10.1 
 AGREEMENT AND GENERAL RELEASE 
 First Commonwealth Financial
Corporation (hereinafter “Employer”) and John J. Dolan and his heirs, executors, administrators, successors, and assigns (collectively referred to hereafter as “Executive”), agree to and intend to be legally bound by the
following: 
 1. Voluntary Resignation by Executive. Pursuant to Section 2.04 of the Employment Agreement
between Executive and Employer dated as of March 1, 2007 (the “Employment Agreement”), Executive hereby voluntarily resigns and retires from employment and from each officer, director, committee membership and other position with
Employer and each of its subsidiaries and affiliates (as that term is defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended (an “Affiliate”), including without limitation First Commonwealth Bank, First Commonwealth
Insurance Agency, Inc. and First Commonwealth Financial Advisors, Inc., in each case, effective as of the end of business on December 31, 2011 (the “Retirement Date”). Employer and each of its subsidiaries and Affiliates are referred
to herein individually as an “Employer Entity” and collectively as the “Employer Entities”. Executive agrees to take any action required by the Employer Entities to effectuate any such resignations. Executive’s last day of
employment with Employer will be the Retirement Date. 
 Employer, on behalf of each Employer Entity, hereby accepts
Executive’s resignation effective as of the Retirement Date and hereby waives the 60 days’ prior written notice by Executive otherwise required pursuant to Section 2.04 of the Employment Agreement. Employer and Executive acknowledge
and agree that the term of Executive’s employment under the Employment Agreement expires on the Retirement Date. 
 2.
Payment of Accrued Benefits. Within thirty (30) days following the Retirement Date, or such earlier date as may be required by law, Employer will pay to Executive any accrued and unpaid base salary and paid time-off, less legally
required taxes and withholdings. 
 3. Severance Pay and Benefits. In consideration of executing and not revoking
this Agreement and General Release (“Agreement”) and in consideration of Executive’s adherence to the promises made herein, Employer agrees that: 
 (a) Employer will pay Executive severance in the form of salary continuation in an amount equal to eighteen (18) months of Executive’s current annualized base salary ($460,000), payable in
accordance with the following schedule, in each case, less legally required taxes and withholdings: (i) an amount equal to sixty-one (61) weeks of Executive’s current annualized base salary payable in accordance with Employer’s
normal payroll practices commencing on the first regular pay day following thirty (30) days after the Retirement Date and (ii) a lump sum payment in cash payable on March 15, 2012 in an amount equal to seventeen (17) weeks of
Executive’s current annualized base salary. 
 (b) During the period of eighteen (18) months commencing on the
Retirement Date (the “Severance Period”), Employer will pay the full cost of continued coverage for Executive and his family members that are covered as of the Retirement Date under Employer’s medical, dental, vision and other health
plans, which continued coverage shall run concurrently with any rights Executive has to continue health insurance coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) or similar state law.

 (c) Employer shall provide reasonable outplacement services to Executive for a period of
eighteen (18) months commencing as of the Release Effective Date (as defined in Section 5) in an amount not to exceed $20,000 in the aggregate. 
 (d) Executive shall become vested in one-third of the shares of restricted stock awarded to Executive under the First Commonwealth Financial Corporation 2011-2013 Long-Term Incentive Plan (the
“LTIP”) for the 2011-2013 performance cycle, effective at the completion of the applicable performance cycle if, and only if, all applicable performance criteria for such award is met in accordance with the terms of such plan and the award
agreement related thereto. To the extent that such shares of restricted stock become issued in accordance with the immediately preceding sentence, Employer shall, on the date the shares are issued or as soon as practicable thereafter, remove the
restrictions on such shares to the extent permitted by and in accordance with the terms of the LTIP. 
 (e) If Executive should
die during the Severance Period, any remaining payments due and owing under Section 3(a) will be paid and any shares due and owing under Section 3(d) will be issued, in the same manner and time as above, by Employer to Executive’s
designated beneficiary that he names here: My designated beneficiary for such payments is Kimberly A. Dolan. For the avoidance of doubt, the benefits provided in Section 3(b) shall also survive Executive’s Death 

(f) If Executive applies for unemployment benefits requiring Employer to designate the reason for Executive’s separation from
employment, Employer shall characterize it as a “separation from employment - willful misconduct not alleged.” Employer shall take no affirmative actions seeking to preclude Executive’s recovery of unemployment benefits.

 (g) Executive acknowledges and agrees that Executive would not receive the benefits specified in Section 3 above, except
for Executive’s execution and non-revocation of this Agreement and the fulfillment of the promises contained herein. 
 (h)
Executive currently has a mortgage on his home through Employer. Employer agrees that the terms of such mortgage shall remain the same after the Retirement Date as they were prior to the Retirement Date. 

(k) On the Release Effective Date, Employer agrees to pay Executive’s reasonable legal fees related to him entering into this
Agreement, not to exceed $5,000. 
 4. Other Compensation and Benefits. 

(a) Except as expressly provided for in Section 3, Executive will not be entitled to severance or separation pay or benefits under
any plan, program, policy, practice or other arrangement of any Employer Entity, including without limitation the Employment Agreement, the Change of Control Agreement entered into between Employer and Executive dated October 18, 2005 (the
“Change of Control Agreement”) or Employer’s Severance Policy, provided however, that prior to the Retirement Date, Executive shall have the rights and benefits under the Change of Control Agreement, any equity based plan,
award or arrangement (e.g., option awards) and any welfare plan or arrangement as set forth in the terms thereof. 
 (b) Except
as expressly provided for in Section 3 or 4(c) of this Agreement, during the Severance Period, Executive will not be eligible to participate in any Employer Entity 

  
 2 

 
equity-based incentive, other incentive, 401(k) savings, employee stock ownership, deferred compensation, supplemental retirement, supplemental savings, life insurance, short or long term
disability, employee welfare benefit, fringe benefit, perquisite, vacation, paid time-off or other employee benefit plan, program, policy, practice or other arrangement of any Employer Entity. 

(c) Any outstanding options or other equity based awards held by Executive to purchase or acquire Employer stock under any equity-based
plan of any Employer Entity will be subject to the exercisability, vesting and forfeiture provisions of the respective plan, including as has been modified by Section 3(d). Any benefits Executive has with respect to his employment for periods
on or prior to the Retirement Date under any annual incentive, deferred compensation, supplement retirement or savings, 401(k), employer stock ownership or similar plan of any Employer Entity will be paid in accordance with the terms of such plan.

 5. Revocation. Executive may revoke this Agreement for a period of seven (7) calendar days following the
day Executive executes this Agreement. Any revocation within this period must be submitted, in writing, to Matthew C. Tomb, Executive Vice President, Chief Risk Officer, General Counsel and Secretary of Employer, at 22 North Sixth Street, Indiana,
Pennsylvania 15701, and state, “I hereby revoke my acceptance of the Separation and Release Agreement I entered into with First Commonwealth Financial Corporation dated December 5, 2011.” The revocation must be personally delivered to
Mr. Tomb or mailed to Mr. Tomb certified mail, return receipt requested and postmarked within seven (7) calendar days of execution of this Agreement. This Agreement shall not become effective or enforceable until the revocation period
has expired without revocation (the “Release Effective Date”). 
 6. General Release of Claims.

 (a) Executive hereby knowingly and voluntarily releases and forever discharges Employer, its parent, Affiliates,
subsidiaries, divisions, predecessor companies, their successors and assigns, their affiliated and predecessor companies and the current and former employees, attorneys, shareholders, members, officers, directors and agents thereof and the current
and former trustees or administrators of any pension or other benefit plan applicable to the employees or former employees of any Employer Entity (collectively referred to throughout the remainder of this Agreement as “Releasees”), of and
from any and all claims, demands, liabilities, obligations, promises, controversies, damages, rights, actions and causes of action, known and unknown, which the Executive has or may have against any Releasee arising out of or by reason of any cause,
matter or thing whatsoever from the beginning of the world to the date Executive executes this Agreement, examples include, but are not limited to, any alleged violation of: 

 

	 	•	 	 Title VII of the Civil Rights Act of 1964, as amended; 

 

	 	•	 	 The Civil Rights Act of 1991; 

  

	 	•	 	 Sections 1981 through 1988 of Title 42 of the United States Code, as amended; 

 

	 	•	 	 The Employee Retirement Income Security Act of 1974, as amended; 

 

	 	•	 	 The Immigration Reform and Control Act, as amended; 

  

	 	•	 	 The Americans with Disabilities Act of 1990, as amended; 

  
 3 

	 	•	 	 The Age Discrimination in Employment Act of 1967, as amended; 

 

	 	•	 	 The Older Workers Benefit Protection Act; 

  

	 	•	 	 The Workers Adjustment and Retraining Notification Act, as amended; 

 

	 	•	 	 The Occupational Safety and Health Act, as amended; 

  

	 	•	 	 The Equal Pay Act of 1963; 

  

	 	•	 	 The Genetic Information Nondiscrimination Act; 

  

	 	•	 	 The Family and Medical Leave Act; 

  

	 	•	 	 Uniformed Services Employment and Reemployment Rights Act; 

 

	 	•	 	 The Pennsylvania Human Relations Act; 

  

	 	•	 	 COBRA; 

  

	 	•	 	 Any other federal, state or local civil or human rights law or any other local, state public policy, contract, tort, or common law; or

  

	 	•	 	 Any allegation for costs, fees, or other expenses including attorneys’ fees incurred in these matters (all of the above collectively referred to
as “Claims”). 

 (b) This release is intended to be a general release, and excludes only those
Claims under any statute or common law that Executive is legally barred from releasing. Executive is advised to seek independent legal counsel if Executive seeks clarification on the scope of this release. Signing this Agreement does not waive
Executive’s right to seek a judicial determination of the validity of Executive’s release of rights arising under the Age Discrimination in Employment Act 
 (c) Nothing herein is intended to or shall preclude Executive from filing a charge with any appropriate federal, state, or local government agency and/or cooperating with said agency in its investigation.
Executive, however, explicitly waives any right to file a personal lawsuit or receive monetary damages that the agency may recover against Releasees, without regard as to who brought any said complaint or charge. 

(d) Other than filing suit to determine the validity of Executive’s release under the ADEA as set forth in Section 6(b) or
filing a charge consistent with Section 6(c), Executive covenants not to file any lawsuit, charge, complaint, allegation or cause of action in any forum regarding his employment with or his termination of employment from or any position with
any Employer Entity. If Executive breaches this covenant, he agrees to forfeit any and all consideration offered to him in this Agreement. 
 (e) Employer and Executive agree that this Agreement does not waive any rights or claims that may arise (i) under the terms of this Agreement and/or (ii) any rights to indemnification,
advancement of expenses or insurance coverage currently in effect. 

  
 4 

 7. Affirmations. Executive represents and agrees by signing below that
Executive has not been denied any leave or benefit requested, has received the appropriate pay for all hours worked for Employer and has no known workplace injuries or occupational diseases. Executive affirms that Executive has not filed, nor has
Executive caused to be filed, nor is Executive presently a party to any claim, complaint, or action against Releasees in any forum or form. Other than the consideration set forth in Section 3, Executive further affirms that Executive has been
paid and/or has received all leave (paid or unpaid), compensation, wages, bonuses and/or commissions to which Executive may be entitled and that no other leave (paid or unpaid), compensation, wages, bonuses and/or commissions are due to Executive,
except as provided in this Agreement. 
 Executive agrees that as of the date this Agreement is executed, Executive has no
knowledge of any perceived or alleged failure by any Employer Entity to comply with federal, state or local laws and regulations governing any Employer Entity which Executive has failed to disclose to Employer. 

Executive affirms that nothing in this Agreement is to be construed as an admission of any Releasee, any such wrongdoing being expressly
denied. 
 8. Business Expenses. Employer will reimburse Executive for any un-reimbursed, reasonable business
expenses incurred by Executive on or before the Retirement Date, pursuant to Employer’s reimbursement policies, provided that Executive present all expense reports to Employer in accordance with such policies. All such expense reports must be
submitted within thirty (30) days following the Retirement Date. 
 9. Withholding Taxes and Other
Deductions. Employer may withhold from any payments made to Executive any applicable federal, state, local and other taxes (such as employment taxes), and such other deductions as are prescribed by law. This includes withholding amounts from
payments made pursuant to Sections 2, 3 or 4 above in order to satisfy any withholding obligations. 
 10. Restrictive
Covenants. Executive acknowledges and agrees that he will comply with the provisions of Articles III and IV of the Employment Agreement, and, without limiting the generality of the foregoing and notwithstanding the one year period specified
therein, further agrees to comply with the provisions of Section 4.02 (Non-Solicitation of Employees) and Section 4.06 (Non-Compete) of the Employment Agreement for a period of eighteen (18) months following the Retirement Date.

 11. Breach of this Agreement. In the event that Executive materially breaches any obligation under this
Agreement, the Employment Agreement or any continuing obligation that Executive has to any Employer Entity under common law, or otherwise engages in tortious behavior that causes damages to any Employer Entity in any way, Employer will have the
right (after written notice to Executive) to not provide Executive with, or to cease providing Executive with, any amounts or benefits that would otherwise be provided during the Severance Period, including those under Section 3 above.

 12. Return of Confidential Information and Documents. Executive hereby covenants that he will return to
Employer by the Retirement Date all documents, memoranda, letters, correspondence, electronic mail, notes, plans, records, reports, lists and other documents, including hard and electronic copies, relating to Employer’s business and that he
will not retain 

  
 5 

 
copies of this information in any form whatsoever. If Executive subsequently discovers any such material, he will promptly return it to Employer, marked to the attention of the General Counsel.
Executive agrees that he will return to Employer, on or prior to the Retirement Date, any and all of Employer’s property in his possession, including but not limited to credit cards, security key cards, telephone cards and identification cards.

 13. Current Employment. Executive waives any claim or right to reinstatement, recall or future employment with
Releasees as defined in Section 6 herein. Executive agrees that he will not seek reemployment with Releasees. 
 14.
Public Announcement. Except as required by law or stock exchange requirement, Employer shall issue a public announcement concerning Executive’s resignation from Employer in a mutually agreed upon form attached hereto as
Exhibit A. Except as required by law or stock exchange requirement, any public disclosure related to Executive’s resignation and retirement shall be consistent with Exhibit A. 

15. Nondisparagement. Executive agrees that he shall not, in writing or orally, or through conduct, disparage, deprecate,
discredit, vilify or otherwise say anything negative about Releasees. Executive agrees never to disparage the services, products, customers, or employees of Releasees. These prohibitions include, without limitation, any such statements made through
use of social media sites, such as Facebook or Twitter. 
 16. Continued Cooperation. In consideration of the
severance pay and benefits provided pursuant to this Agreement, during the Severance Period Executive agrees to remain available to assist Employer in the transition to a new Chief Executive Officer and to consult on a limited basis on legacy
issues, not to exceed five (5) hours per week. To the extent Executive is required to travel (either at the request of Employer or due Executive’s relocation of residence) to provide this cooperation, Employer will pay for Executive’s
reasonable out-of-pocket travel expenses in accordance with Employer’s expense reimbursement policies. 
 17.
Governing Law and Interpretation. This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania without giving effect to the principles of conflicts of law. 

18. Severability. If any term, provision or paragraph of this Agreement is determined by a court of competent jurisdiction
to be invalid or unenforceable for any reason, such determination shall be limited to the narrowest possible scope in order to preserve the enforceability of the remaining portions of the term, provision or paragraph, and such determination shall
not affect the remaining terms, provisions or paragraphs of this Agreement, which shall continue to be given full force and effect. 
 19. No Admission of Wrongdoing. The Parties agree that neither this Agreement nor the furnishing of the consideration for this Agreement shall be deemed or construed at anytime for any
purpose as an admission by any Employer Entity, or evidence of any liability or unlawful conduct of any kind. 
 20.
Amendment. This Agreement may not be modified, altered or changed except in writing and signed by both parties wherein specific reference is made to this Agreement. 

  
 6 

 21. Entire Agreement. This Agreement sets forth the entire agreement of the
parties hereto with respect to Executive’s separation from service with each Employer Entity, and except as otherwise provided in Section 10 of this Agreement, supersedes any and all prior agreements, oral or written, with respect thereto,
including without limitation the Employment Agreement, the Change of Control Agreement entered into between Employer and Employee dated October 18, 2005 and the Employer’s Severance Policy. 

22. Section 409A. 
 (a) This Agreement will be administered, interpreted and construed in compliance with Section 409A of the Internal Revenue Code and the regulations and other guidance promulgated
thereunder (“Section 409A”), including any exemption thereunder. Each payment hereunder, including each installment payment, shall be treated as a separate payment for purposes of Section 409A. For purposes of this Agreement, to the
maximum extent permitted by Section 409A, separation pay is intended to be exempt from Section 409A pursuant to exemptions for short-term deferrals as specified in Treas. Reg. § 1.409A-1(b)(4) and separation pay due to an involuntary
separation from service or participation in a window program as specified in Treas. Reg. § 1.409A-1(b)(9)(iii) (and any amount paid within the first six months following the Retirement Date will be deemed to be in accordance with such
exemptions) and reimbursement and certain other separation payments in Treas. Reg. 1.409A-1(b)(9)(v) and other exemptions available under Section 409A. With respect to payments, if any, subject to Section 409A (and not excepted therefrom),
each such payment is paid as a result of a permissible distribution event, and at a specified time, consistent with Section 409A. Executive has no right to, and there shall not be, any acceleration or deferral with respect to payments
hereunder. Executive acknowledges and agrees that Releasees shall not be liable for, and nothing provided or contained in this Agreement will obligate or cause the Releasees to be liable for, any tax, interest or penalties imposed on Executive
related to or arising with respect to any violation of Section 409A. For purposes of this Agreement, any reference to “resignation”, “termination of employment”, “termination” or similar reference shall be
construed to be a reference to “separation from service” within the meaning of Section 409A. 
 (b)
Notwithstanding any other provision of this Agreement to the contrary, to the extent that any amount payable or benefit to be provided under this Agreement constitutes an amount payable or benefit to be provided under a “nonqualified deferred
compensation plan” (as defined in Section 409A) that is not exempt from Section 409A, and such amount or benefit is payable or to be provided as a result of a “separation from service” (as defined in Section 409A), and
Executive is a “specified employee” (as defined and determined under Section 409A and any relevant procedures that Employer may establish) at the time of his “separation from service,” then such payment or benefit will not
be made or provided to Executive until the day after the date that is six months following Executive’s “separation from service,” at which time all payments or benefits that otherwise would have been paid or provided to Executive
under this Agreement during that six-month period, but were not paid or provided because of this clause, will be paid or provided, with any cash payment to be made in a single lump sum (without any interest with respect to that six-month
period). This six-month delay will cease to be applicable if Executive “separates from service” due to death or if Executive dies before the six-month period has elapsed, in which event any such payments or benefits will be paid or
provided to Executive’s estate within thirty (30) days of the date of death. 
 23. Signatures. This
Agreement may be executed in counterparts, any such copy of which to be deemed an original, but all of which together shall constitute the same instrument. 

  
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 24. Assignment. Employer and Releasees have the right to assign this
Agreement, but Executive does not. This Agreement inures to the benefit of the successors and assigns of the Employer, who are intended third party beneficiaries of this Agreement. 

EXECUTIVE HAS BEEN ADVISED THAT HE HAS UP TO TWENTY-ONE (21) CALENDAR DAYS TO CONSIDER THIS AGREEMENT, AND SEVEN
(7) CALENDAR DAYS TO REVOKE AFTER EXECUTIVE’S EXECUTION. UNDER NO CIRCUMSTANCES SHALL EXECUTIVE HAVE MORE THAN 30 DAYS FROM THE EFFECTIVE DATE TO SIGN AND DELIVER THIS AGREEMENT, OTHERWISE THIS AGREEMENT SHALL BE WITHDRAWN HAVING NO FORCE
OR EFFECT. EXECUTIVE IS HEREBY ADVISED IN WRITING TO CONSULT WITH AN ATTORNEY OF EXECUTIVE’S CHOICE PRIOR TO EXECUTION OF THIS AGREEMENT. 
 EXECUTIVE AFFIRMS THAT HE FULLY UNDERSTANDS THE TERMS OF THIS AGREEMENT AND THAT HE HAS HAD THE BENEFIT OF ADVICE OF COUNSEL OR HAS KNOWINGLY WAIVED SUCH ADVICE AND THAT HE KNOWINGLY AND VOLUNTARILY,
OF HIS OWN FREE WILL, WITHOUT ANY DURESS, BEING FULLY INFORMED, AND AFTER DUE DELIBERATION, ACCEPTS ITS TERMS AND SIGNS THE SAME AS HIS OWN FREE ACT. EXECUTIVE UNDERSTANDS AND AFFIRMS THAT AS A RESULT OF EXECUTING THIS AGREEMENT, HE WILL NOT HAVE
THE RIGHT TO ASSERT THAT ANY EMPLOYER ENTITY VIOLATED ANY OF HIS RIGHTS IN CONNECTION WITH HIS EMPLOYMENT OR TERMINATION OF EMPLOYMENT. 
 EXECUTIVE AGREES THAT ANY MODIFICATIONS, MATERIAL OR OTHERWISE, MADE TO THIS AGREEMENT DO NOT RESTART OR AFFECT IN ANY MANNER THE ORIGINAL TWENTY-ONE (21) CALENDAR DAY CONSIDERATION PERIOD.

 HAVING ELECTED TO EXECUTE THIS AGREEMENT, TO FULFILL THE PROMISES SET FORTH HEREIN, AND TO RECEIVE THEREBY THE
BENEFITS SET FORTH IN SECTION 3 ABOVE, EXECUTIVE FREELY AND KNOWINGLY, AND AFTER DUE CONSIDERATION, ENTERS INTO THIS AGREEMENT INTENDING TO WAIVE, SETTLE AND RELEASE ALL RELEASABLE CLAIMS EXECUTIVE HAS OR MIGHT HAVE AGAINST EMPLOYER. 

Signature page follows. 

  
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 IN WITNESS WHEREOF, the parties hereto knowingly and voluntarily executed this
Agreement as of the date set forth below: 
  

									
	FIRST COMMONWEALTH FINANCIAL CORPORATION	 		 	EXECUTIVE
				
	By:	 	 /s/ Matthew C. Tomb
	 		 	 /s/ John J. Dolan

		 	Name:	 	Matthew C. Tomb	 		 	John J. Dolan
		 	Title:	 	Executive Vice President, General Counsel and Chief Risk Officer	 		 	
					
	Date:	 		 		 		 	Date:
			
	 December 5, 2011
	 		 	 December 5, 2011

  
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