Document:

Annual Incentive Plan

 Exhibit 10.9 
 2012 Plan Year 
 LEVI STRAUSS &
CO. 
 ANNUAL INCENTIVE PLAN 

—CONFIDENTIAL— 

 TABLE OF CONTENTS 

 
  

							
	 	  	 	  	Page	 
	1.	  	 Introduction
	  	 	1	  
	2.	  	 Purpose of the Plan
	  	 	1	  
	3.	  	 Defined Terms
	  	 	1	  
	4.	  	 Effective Date and Termination Date
	  	 	6	  
	5.	  	 Eligibility and Participation
	  	 	6	  
	6.	  	 Plan Funding
	  	 	7	  
	7.	  	 Participant Incentive Allocations
	  	 	10	  
	8.	  	 No Tax, Financial, Legal or Other Advice
	  	 	11	  
	9.	  	 Payments and Tax Withholding
	  	 	11	  
	10.	  	 Employment Rights
	  	 	11	  
	11.	  	 Other Benefits
	  	 	11	  
	12.	  	 Unfunded Status
	  	 	12	  
	13.	  	 No Limit on Capital Structure Changes
	  	 	12	  
	14.	  	 Plan Administration
	  	 	12	  
	15.	  	 Claims Procedures
	  	 	13	  
	16.	  	 Amendment, Modification or Termination of Plan
	  	 	15	  
	17.	  	 Severability
	  	 	15	  
	18.	  	 No Waiver
	  	 	15	  
	19.	  	 Incorrect Payment of Benefits
	  	 	15	  
	20.	  	 Governing Law
	  	 	15	  
	21.	  	 All Provisions
	  	 	16	  
	22.	  	 Adoption
	  	 	16	  

 ANNUAL INCENTIVE PLAN (AIP) 

 
  

	1.	Introduction 

 This is the official
document for the Levi Strauss & Co. Annual Incentive Plan (the “Plan”), which contains the exclusive and complete description of the Plan terms. For more specific information on how the Plan works, please refer to the Plan
Administrative Guidelines. In the event of any inconsistency between the Plan document and the Plan Administrative Guidelines, the Plan document will control. Levi Strauss & Co. (the “Company”) and the Committee reserve the right
to amend the Plan from time to time or to terminate the Plan at any time and for any reason. 
 The Plan rewards individual achievement of
results toward objectives established by the Company for the 2012 fiscal year beginning November 28, 2011 and ending November 25, 2012 (the “Plan Year”). The amount of the incentive pay earned depends on the financial performance
of the Company and the performance of the individual Participant. 
  

	2.	Purpose of the Plan 

 The purpose of the
Plan is to: 
  

	 	•	 	 align Eligible Employees’ and shareholders’ interests; 

 

	 	•	 	 recognize and reward Eligible Employees who make substantial contributions to the Company; 

 

	 	•	 	 provide managers with the ability to recognize and reward key contributors and reinforce the Performance Management Development Program;

  

	 	•	 	 tie the incentive opportunity to external competitive practices, and internally to the Company’s total compensation objectives; and

  

	 	•	 	 encourage continuation of excellent service. 

  

	3.	Defined Terms 

  

	 	A.	Active Employment means the Eligible Employee is on the active payroll of the Company and has not experienced a voluntary or involuntary termination of
employment with the Company, including discharge for any reason, resignation, layoff, death, Retirement or Long-Term Disability. 

	 	B.	Allocation Percentage means the percentage used to determine an Individual Incentive Allocation. An Allocation Percentage is chosen from a range of percentages
based on final year-end Business Unit or Staff Group performance, as applicable, and the Participant’s individual performance rating. 

  

	 	C.	Base Salary means the Participant’s base annual wage rate in effect on August 31 of the Plan Year, excluding bonuses, overtime, shift differential or
any other additional pay items. 

  

	 	D.	Beneficiary means the Participant’s (i) surviving spouse; (ii) living descendents per stirpes; or (iii) duly appointed and qualified executor
or personal representative or estate. 

  

	 	E.	Board means the Board of Directors of the Company. 

  

	 	F.	 Business Unit means a category relative to a Participant’s position within the Company used to measure the Participant’s performance
that has a direct impact on EBIT, Working Capital and Net Revenue, such as Levi’s®, Dockers® or DenizenTM. 

  

	 	G.	Cause means a finding by the Plan Administrator that the Participant has: 

 

	 	1.	committed any willful, intentional or grossly negligent act materially injuring the interest, business or reputation of the Company; 

 

	 	2.	engaged in any willful misconduct, including insubordination, in respect of his or her duties or obligations to the Company; 

 

	 	3.	violated or failed to comply in any material respect with the Company’s published rules, regulations or policies, as in effect from time to time;

  

	 	4.	committed a felony or misdemeanor involving moral turpitude, fraud, theft or dishonesty (including entry of a nolo contendere plea resulting in conviction of a felony
or misdemeanor involving moral turpitude, fraud, theft or dishonesty); 

  

	 	5.	misappropriated or embezzled any property of the Company (whether or not a misdemeanor or felony); 

  
 2 

	 	6.	failed, neglected or refused to perform the employment duties related to his or her position as from time to time assigned to him or her (including, without limitation,
the Participant’s inability to perform such duties as a result of alcohol or drug abuse, chronic alcoholism or drug addiction); or 

  

	 	7.	breached any applicable employment agreement. 

 “Willful” means an act or omission in bad faith and without reasonable belief that such act or omission was in, or not opposed to, the best interests of the Company. 

 

	 	H.	Committee means the Human Resources Committee of the Board. 

  

	 	I.	Company means Levi Strauss & Co. and its participating Subsidiaries. 

 

	 	J.	EBIT means earnings before interest, and taxes, as determined under the Company’s audited financial statements. 

 

	 	K.	EBIT Percentage means actual EBIT for the Plan Year divided by Target EBIT. 

 

	 	L.	Eligible Employee means each individual who meets the eligibility requirements under Section 5. The term “Eligible Employee” excludes anyone who
is classified as an independent contractor or consultant, and anyone who provides services to the Company pursuant to a contract between the Company and a third party organization. 

 

	 	M.	Funding Amount means an amount generated to pay incentives based on the Participant’s Target Amount and the performance of the Funding Source against Target
EBIT, Target Net Revenue and Target Working Capital. The Funding Amount is calculated by multiplying a Participant’s Target Amount by the final year-end Business Unit or Staff Group Funding Percentage, as applicable, to determine the Incentive
Pool. 

  

	 	N.	Funding Percentage means the percentage used to determine the final Incentive Pool for a Business Unit or Staff Group, as applicable. The Funding Percentage is
calculated under Section 6.B or 6.C. 

  
 3 

	 	O.	Funding Source means the organizational unit(s) used to set and measure financial objectives for purposes of determining the size of the final Incentive Pools.
For example, the Funding Source may be the Company or a designated Business Unit. 

  

	 	P.	Incentive Pool means the sum of the Funding Amounts for all Participants within the Funding Source, determined after the close of the Plan Year. Incentive Pools
are established separately for the Company and for each Business Unit and Staff Group, as applicable. 

  

	 	Q.	Individual Incentive Allocation means the award made under the Plan to a Participant. 

 

	 	R.	Long-Term Disability means the Eligible Employee is disabled within the meaning of, and eligible for benefits under, a long-term disability program or equivalent
program maintained by the Company or a Subsidiary employing the Eligible Employee. 

  

	 	S.	Net Revenue means gross sales after returns and allowances, plus licensing revenue. 

 

	 	T.	Net Revenue Percentage means actual Net Revenue for the Plan Year divided by Target Net Revenue. 

 

	 	U.	Participant means an Eligible Employee who meets the participation requirements under Section 5. 

 

	 	V.	Participation Rate means the percentage used to determine a Participant’s Target Amount. A Participation Rate is based on the Participant’s job level
and is expressed as a percent of Base Salary. Participation Rates may vary depending on the Participant’s location and/or job title. 

  

	 	W.	Performance Management Development Program means the program in which performance objectives are set and measured for individual employees.

  

	 	X.	Plan means the Levi Strauss & Co. Annual Incentive Plan, as set forth herein and as amended from time to time. 

 

	 	Y.	Plan Administrator means the Committee. 

  
 4 

	 	Z.	Plan Year means the Company’s 2012 fiscal year beginning November 28, 2011 and ending November 25, 2012. 

 

	 	AA.	Retirement means a voluntary termination of employment by an Eligible Employee who meets the age and service requirements as defined and determined under the
Company retirement plan applicable to the Eligible Employee. 

  

	 	BB.	Staff Group means a category relative to a Participant’s position within the Company used to measure the performance of a Participant that is in a business
support capacity, such as Information Technology, Human Resources, Finance or Legal. 

  

	 	CC.	Subsidiary means any corporation of which more than 50% of the outstanding shares having ordinary voting power are owned or controlled by the Company, and any
other entity that the Board, in its sole discretion, deems to be a Subsidiary. 

  

	 	DD.	Target Amount means the Participant’s Base Salary multiplied by his or her Participation Rate. The Base Salary and Participation Rate (which is a set
percentage based on the Participant’s job level) are determined as of August 31 of the Plan Year. Target Amounts are calculated in local currency. See Section 5 for special rules regarding changes in status that may affect the Target
Amount. 

  

	 	EE.	Target EBIT means an EBIT amount designated by the Company. 

  

	 	FF.	Target Net Revenue means a Net Revenue amount designated by the Company. 

 

	 	GG.	Target Working Capital means a Working Capital amount designated by the Company. 

 

	 	HH.	Working Capital means current assets minus current liabilities, and is used to measure the average number of days to convert working capital into cash over the
year. 

  

	 	II.	Working Capital Percentage means actual Working Capital for the Plan Year divided by Target Working Capital. 

  
 5 

	4.	Effective Date and Termination Date 

 The
Plan is effective with respect to the 2012 Plan Year only. 
  

	5.	Eligibility and Participation 

 The Plan
covers each employee of the Company who (i) is in Active Employment during the Plan Year; (ii) is classified by the Company in the Executive, Leader, Management, Professional or Contributor bands; (iii) is on the payroll of the
Company on or before August 31 of the Plan Year; and (iv) remains in Active Employment through the payout date, except as provided below. In addition, Eligible Employees must meet individual performance expectations as determined by the
head of the Eligible Employee’s work group under the Performance Management Development Program. 
 The following paragraphs address
changes in status that occur after the first day of the Plan Year. The following paragraphs are specific to Participants in the United States. Proration rules may vary outside of the United States, based on regional policies and/or legal
requirements. 
  

	 	A.	New Hires and Rehires. If an individual becomes an Eligible Employee after the beginning of the Plan Year, but on or before August 31 of the Plan Year, the
Target Amount will be prorated for the length of time he or she worked as an Eligible Employee. Rehired individuals are not entitled to receive credit for prior periods of employment, unless the Eligible Employee was involuntarily terminated by the
Company without Cause and rehired in the same Plan Year. 

  

	 	B.	Promotions. If an individual becomes an Eligible Employee after the beginning of the Plan Year, but on or before August 31 of the Plan Year, due to
promotion, the Target Amount will be determined based on the Eligible Employee’s Base Salary and Participation Rate determined as of August 31 of the Plan Year without proration. 

 

	 	C.	Demotions. If an individual ceases to be an Eligible Employee before the end of the Plan Year, other than due to termination of employment, the Target Amount
will be prorated for the length of time he or she worked as an Eligible Employee. 

  
 6 

	 	D.	Funding Source Changes. If an Eligible Employee moves from one Funding Source to another Funding Source during the Plan Year, the Funding Source for the 2012
Plan Year will be based on the Business Unit or Staff Group the Eligible Employee is employed in on August 31 of the Plan Year without proration.

  

	 	E.	Terminations. If a Participant Retires, is terminated without Cause, dies or goes on Long-Term Disability before the end of the Plan Year, the Participant’s
Target Amount will be prorated for the length of time he or she was an Eligible Employee during the Plan Year. As one of the objectives of the Plan is to encourage continuity of service, in all other cases of termination before the payment date
(including voluntary resignation or termination for Cause), a Participant will have no right to any Individual Incentive Allocation. 

  

	 	F.	Leaves of Absence. Eligible Employees who are on an approved leave of absence during the Plan Year will have their Target Amount prorated to the whole day to
exclude any leave of absence in the Plan Year where the Eligible Employee is on unpaid status, meaning the individual is not receiving regular pay or is under the Time Off With Pay Program (“TOPP”). If an Eligible Employee is using TOPP
while on a leave of absence, TOPP must be taken in full day increments except when being used to supplement other forms of leave related income (i.e. short-term disability, state disability insurance, etc.). This includes leaves for FMLA,
Workers’ Compensation, short-term disability, personal leave and military leave. When there are two or more discontinuous leaves in the same Plan Year, the periods of unpaid leave are summed for purposes of calculating the prorated Target
Amount. 

  

	6.	Plan Funding 

 With respect to a
Participant who is in a Business Unit, the Plan will be funded (or not) based on: (i) the financial performance of the Participant’s Business Unit and the next higher organizational level at the Company (i.e., the Funding Sources for the
Participant); and (ii) the Participant’s Target Amount. If the growth for these Funding Sources meets or exceeds certain target levels, the Funding Sources will allocate funds to create an Incentive Pool to make payments to Participants in
the applicable Business Units. The actual amount of funding for each Funding Source under the Plan is based on the formula described below. 

  
 7 

	 	A.	Funding Amount. The Funding Amount is determined by the following equation: 

Funding Amount = Business Unit/Staff Group Funding Percentage x Target Amount 

This formula is applied to each Participant in the Funding Source to arrive at the Funding Amount. The total for all Participants in the
Funding Source constitutes the final Funding Amount for the Funding Source. 
  

	 	B.	Business Unit/Staff Group Funding Percentage. The following steps are used to determine the Funding Percentage for a Participant who is in a Business Unit or
Staff Group: 

  

	 	1.	 Calculate the EBIT Percentage for the Participant’s primary Funding Source. Calculate the EBIT Percentage for the next higher Company
organizational level for that Participant.1 If the
Participant’s primary Funding Source is the Company, use only the EBIT Percentage for the Company. 

  

	 	2.	Using the EBIT Percentages, determine each of the corresponding EBIT Funding Percentages for the primary Funding Source and the next higher Company
organizational level, respectively. Funding for the achievement of the EBIT Target for the 2012 Plan Year is set at 100%. 

  

	 	3.	Calculate the Working Capital Percentage for the Participant’s primary Funding Source. Calculate the Working Capital Percentage for the next higher Company
organizational level. If the Participant’s primary Funding Source is the Company, use only the Working Capital Percentage for the Company. 

  

	 	4.	Using the Working Capital Percentages, determine each of the corresponding Working Capital Modifiers for the primary Funding Source and the next higher Company
organizational level, respectively. 

  

	 	5.	Multiply each of the EBIT Funding Percentages by the corresponding Working Capital Modifiers. Each result will be capped at 175%. 

 

	1 	 For example, the applicable Business Unit may be Global Levi’s®, with the next higher organizational unit being the Company. 

  
 8 

	 	6.	Calculate the Net Revenue Percentage for the Participant’s primary Funding Source. Calculate the Net Revenue Percentage for the next higher Company organizational
level for that Participant. If the Participant’s primary Funding Source is the Company, use only the Net Revenue Percentage for the Company. 

  

	 	7.	Using the calculated Net Revenue Percentages, if any, determine the corresponding Net Revenue Funding Percentages for the Participant’s primary Funding Source and
the next higher Company organizational level, respectively. Funding for the achievement of the Net Revenue Target for the 2012 Plan Year is set at 100%. In order for Net Revenue funding to exceed 100%, EBIT Percentages must be achieved at 100% of
Target or higher. 

  

	 	8.	Add the Net Revenue Funding Percentages, if any, determined under paragraph 7 to the respective percentages calculated under paragraph 5. For purposes of this
calculation, the product of the EBIT Funding Percentages and the Working Capital Modifiers is weighed 50% and the Net Revenue Funding Percentage is weighed 50%. 

 

	 	9.	Determine the final Funding Percentage by adding together the weighted average of the Funding Percentage for the Funding Source and the Funding Percentage for the next
higher Company organizational level. The weighting is typically 70% for the Participant’s Funding Source and 30% for the next higher Company organizational level. Funding mix may vary among Regions. This paragraph does not apply if a
Participant’s Funding Source is the Company only. 

  

	 	C.	Incentive Pool. The Incentive Pool for each Business Unit and Staff Group within a Funding Source, as applicable, is determined after the end of the Plan Year. A
Business Unit’s Incentive Pool is the sum of the Funding Amounts for each Participant within the Business Unit. A Staff Group’s Incentive Pool is the sum of the Funding Amounts for each Participant within the Staff Group. After the
Incentive Pools have been determined, members of the Worldwide Leadership Team (“WLT”) may redistribute funds from one Incentive Pool to another within their respective organizations. The Chief Executive Officer recommends the final
Incentive Pool after the end of the Plan Year for Committee approval. 

  
 9 

	7.	Participant Incentive Allocations 

  

	 	A.	Performance Management Development Program. Individual Incentive Allocations are determined by the head of the Participant’s work group, based on individual
performance. If a Participant meets or exceeds certain performance expectations (as determined in the Performance Management Development Program), then he or she will be eligible to receive an Individual Incentive Allocation.

 If a Participant does not meet performance expectations (as determined in the Performance Management Development
Program), no Individual Incentive Allocation is issued to that Participant. Any money budgeted for a Participant who does not meet performance expectations remains in the Business Unit’s or Staff Group’s Incentive Pool, as applicable,
making it available for other Participants in such Business Unit or Staff Group, as applicable. 
  

	 	B.	Individual Allocations. Individual Incentive Allocations are made to a Participant based on annual results as measured against: (i) the Participant’s
annual objectives, established at the beginning of the Plan Year; and (ii) contributions relative to others. Individual Incentive Allocations are reviewed and approved by the Participant’s manager and a WLT member. The Incentive Pool is
the limit for incentive awards within a Business Unit or Staff Group, as applicable. The Individual Incentive Allocation for each Participant is equal to: 

 Target Amount x Allocation Percentage 
 Each Participant’s
contributions and performance is measured against the goals and objectives set for him or her for that Plan Year. Based on the evaluation, the Participant is assigned a performance rating. The Participant’s performance rating combined with the
overall performance of his or her Business Unit or Staff Group, as applicable, establishes the guidelines for the range of his or her Allocation Percentage. Finally, the Participant’s Allocation Percentage is approved by the Participant’s
manager and a WLT member, subject to Incentive Pool limitations. 
  

	 	C.	Timing. Incentive payments are made as soon as administratively practicable after the close of the Plan Year, but no later than the end of the following Plan
Year. If a Participant dies after the close of the Plan Year and has earned an Individual Incentive Allocation, such amount will be distributed to his or her Beneficiary. 

  
 10 

	8.	No Tax, Financial, Legal or Other Advice 

The Company or any Subsidiary has not provided, and will not provide, any tax, financial, legal or other advice related to participation in the Plan,
including, but not limited to, tax or financial consequences of participating in the Plan. No provision of the Plan, or any document or presentation about the Plan given to Eligible Employees, will be interpreted as reflecting such advice.

  

	9.	Payments and Tax Withholding 

 The Company
will deduct from all payments any and all applicable taxes (e.g., federal, state, local or other taxes of any kind) required by law to be withheld with respect to such payment. 

 

	10.	Employment Rights 

 Neither this document
nor the existence of the Plan is intended to, nor do they imply, any promise of continued employment by the Company. Employment may be terminated with or without Cause, and with or without notice, at any time, for any reason, at the option of the
Company or the employee. No one other than the Board, Chief Executive Officer, President or a Senior Vice President of the Company may approve any agreement with an employee that guarantees his or her employment. Such an agreement must be in writing
and signed by such an authorized individual. 
 A Participant who voluntarily resigns or who has been involuntarily discharged by the Company
for Cause loses all of his or her interest, including any right, under the Plan, and is not entitled to receive any payment under the Plan. 
  

	11.	Other Benefits 

 No creation of interests
or payment of cash under the Plan will be taken into account in determining any benefits under any compensation, pension, retirement, savings, profit sharing, group insurance, welfare or other employee benefit plan of the Company or any Subsidiary.
However, an Eligible Employee may be eligible to elect to defer incentive payments under the terms of the Levi Strauss & Co. Deferred Compensation Plan for Executives. Please refer to the terms of such plan for information regarding
possible deferral elections. 

  
 11 

	12.	Unfunded Status 

 The Plan is unfunded. An
Eligible Employee’s right to receive an Individual Incentive Allocation under the Plan is an unsecured claim against the general assets of the Company, or Subsidiary, as applicable. Although the Company or a Subsidiary may establish a
bookkeeping reserve to meet its obligations, any rights acquired by any Eligible Employee are no greater than the right of any unsecured general creditor of the Company or any Subsidiary. 
 The Company or any Subsidiary is not required to segregate any assets for incentive payments, and neither the Company, nor any Subsidiary, the Board, the Committee nor the Plan Administrator is deemed to
be a trustee as to any incentive payment under the Plan. Any liability of the Company or Subsidiary to any Eligible Employee under the Plan is based solely upon any contractual obligations that may be created by the Plan. No provision of the Plan,
under any circumstances, gives any Eligible Employee or other person any interest in any particular property or assets of the Company or its Subsidiaries. No incentive payment is deemed to be secured by any pledge of, or other encumbrance or
security interest in, any property of the Company, or any Subsidiary. Neither the Company, nor any Subsidiary, the Board, the Committee, nor the Plan Administrator is required to give any security or bond for the performance of any obligation that
may be created under the Plan. 
  

	13.	No Limit on Capital Structure Changes 

The establishment and operation of the Plan will not limit the ability of the Company or of any Subsidiary to reclassify, recapitalize or otherwise change
its capital or debt structure; to merge, consolidate, convey any or all of its assets, dissolve, liquidate, windup, or otherwise reorganize; to pay dividends or make other distributions to stockholders; to repurchase stock or to issue stock; or to
take any action in respect of its manufacturing, marketing, distribution, merchandising, operations, management or any other aspect of its business. 
 Notwithstanding the above, the Committee may, in its discretion, adjust the manner in which the performance measures are calculated at any time or from time to time to take into account changes in the
Company’s business that the Committee believes affect the relationship between the Company’s performance and such value. 
  

	14.	Plan Administration 

 The Plan is
administered by the Committee. The Committee may delegate its authority as Plan Administrator to such other person or persons as the Committee designates from time to time. In administering the Plan, the Committee may, in its discretion, employ
compensation consultants, accountants and counsel and other persons to assist or render advice and other services, all at the expense of the Company. 

  
 12 

 The Committee has the power, in its sole discretion, to interpret the Plan and to adopt rules and procedures
it deems appropriate for the administration and implementation of the Plan. The Committee’s determinations and interpretations will be conclusive and binding on all individuals. Responsibilities include (but are not limited to) the following:

  

	 	•	 	 design and interpret the Plan (including ambiguous terms); 

 

	 	•	 	 approve Participation Rates; 

  

	 	•	 	 approve financial performance measures; 

  

	 	•	 	 approve Funding Sources and weights; 

  

	 	•	 	 approve Company financial objectives; 

  

	 	•	 	 approve final Incentive Pool; and 

  

	 	•	 	 approve other terms and conditions that may be recommended by the Chairman of the Board or the Chief Executive Officer. 

The Committee may delegate its day-to-day administrative responsibilities to Company employees and may delegate to Company management the authority to
approve amendments to the Plan. 
  

	15.	Claims Procedures 

 A Participant or
Beneficiary will have the right to file a claim, inquire if he or she has any right to benefits and amounts thereof or appeal the denial of a claim. 
  

	 	A.	A claim will be considered as having been filed when a written communication is made by the Participant, Beneficiary or his or her authorized representative (the
“claimant”) to the attention of the Plan Administrator. The Plan Administrator will notify the claimant in writing within 90 days after receipt of the claim if the claim is wholly or partially denied. If an extension of time beyond the
initial 90-day period for processing the claim is required, written notice of the extension will be provided to the claimant before the expiration of the initial 90-day period. In no event will the period, as extended, exceed 180 days. The extension
notice will indicate the special circumstances requiring an extension of time and the date by which the Plan Administrator expects to render a final decision. 

  
 13 

	 	B.	Notice of a wholly or partially denied claim for benefits will be made in writing in a manner calculated to be understood by the claimant and will include:

  

	 	1.	the reason or reasons for denial; 

  

	 	2.	specific reference to the Plan provisions on which the denial is based; 

  

	 	3.	a description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or information is
necessary; and 

  

	 	4.	an explanation of the Plan’s claim appeal procedure. 

  

	 	C.	If a claim is wholly or partially denied, the claimant may file an appeal requesting the Plan Administrator to conduct a full and fair review of his or her claim. For
purposes of this review, the Plan Administrator may appoint an individual or committee (other than the individual or committee that heard the initial claim) to act on its behalf. An appeal must be made in writing no more than 60 days after the
claimant receives written notice of the denial. The claimant may review any documents that apply to the case and may also submit points of disagreement and other comments in writing along with the appeal. The decision of the Plan Administrator
regarding the appeal will be given to the claimant in writing no later than 60 days following receipt of the appeal. However, if the Plan Administrator, in its sole discretion, grants a hearing, or there are special circumstances involved, the
decision will be given no later than 120 days after receiving the appeal. If such an extension of time for review is required, written notice of the extension will be furnished to the claimant before the commencement of the extension. The decision
will be written in a manner calculated to be understood by the claimant and will include specific reasons for the decision, as well as specific references to the pertinent Plan provisions on which the decision is based. 

 

	 	D.	Notwithstanding any provision in the Plan to the contrary, no employee, Eligible Employee, Participant, Beneficiary or other person may bring any legal or
administrative claim or cause of action against the Plan, the Plan Administrator or the Company in court or any other venue until such person has exhausted the administrative remedies under this Section 15. 

  
 14 

	 	E.	If the Plan Administrator is in doubt concerning the entitlement of any person to any payment claimed under the Plan, the Plan Administrator may instruct the Company to
suspend payment until satisfied as to the person’s entitlement to the payment. Notwithstanding the foregoing, no person may bring a claim for Plan benefits to arbitration, court or through any other legal action or process until the
administrative claims process of this Section 15 has been exhausted. 

  

	16.	Amendment, Modification or Termination of Plan 

 The Committee may modify, amend or terminate any and all provisions of the Plan at any time and for any reason during its existence, and establish rules and procedures for its administration, at its
discretion and without notice. 
  

	17.	Severability 

 If any provision of the
Plan is held to be illegal or invalid for any reason, the illegality or invalidity will not affect the remaining provisions of the Plan, and the Plan will be construed and enforced as if the illegal or invalid provision were not part of the Plan.

  

	18.	No Waiver 

 Failure of the Company to
enforce at any time any provision of the Plan will in no way be construed to be a waiver of such provision or any other provision of the Plan. 
  

	19.	Incorrect Payment of Benefits 

 If the
Plan Administrator determines in its sole discretion that the Plan made any overpayment of the amount of any benefits due any payee under the Plan, the Plan Administrator may require the payee to return the excess to the Plan or take any other
action deemed reasonable by the Plan Administrator. 
  

	20.	Governing Law 

 The Plan and all incentive
payouts hereunder will be governed by the laws of the State of California. In applying the laws of the State of California, its rules on choice of law will be disregarded. 

  
 15 

	21.	All Provisions 

 This official Plan
document represents the exclusive and complete statement of the terms of the Plan, and supersedes any and all prior or contemporaneous understandings, representations, documents and communications between the Company or any Subsidiary and any
Eligible Employee, whether oral or written, relating to its subject matters. In the event of any conflict between the provisions of this official Plan document, as amended from time to time, and any other document or presentation describing or
otherwise relating to the Plan, this official document will control. 
  

	22.	Adoption 

 To record the restatement of
the Plan, the Company has caused its duly authorized officer to execute this document on the date indicated herein. 
  

			
	Levi Strauss & Co.
		
	By:	 	/s/ Greg Holmes
	Title:	 	Acting Senior Vice President, Human Resources
	
	 Date: February 2, 2012

  
 16Deferred Compensation Plan for Executives and Outside Directors

 Exhibit 10.10 
 LEVI STRAUSS & CO. 

DEFERRED COMPENSATION PLAN FOR EXECUTIVES AND

 OUTSIDE DIRECTORS 
 MASTER PLAN DOCUMENT 

AMENDED AND RESTATED EFFECTIVE AS OF
JANUARY 1, 2011 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE 1 DEFINITIONS
	  	 	1	  
	         1.1
	 	“ACCOUNT”	  	 	1	  
	         1.2
	 	“AFFILIATE”	  	 	1	  
	         1.3
	 	“ANNUAL BONUS”	  	 	1	  
	         1.4
	 	“ANNUAL COMPANY CONTRIBUTION”	  	 	2	  
	         1.5
	 	“ANNUAL INSTALLMENT METHOD”	  	 	2	  
	         1.6
	 	“BASE ANNUAL SALARY”	  	 	2	  
	         1.7
	 	“BENEFICIARY” OR “BENEFICIARIES”	  	 	2	  
	         1.8
	 	“BOARD”	  	 	2	  
	         1.9
	 	“CODE”	  	 	2	  
	         1.10
	 	“COMMITTEE”	  	 	2	  
	         1.11
	 	“COMPANY”	  	 	3	  
	         1.12
	 	“COMPANY CONTRIBUTION ACCOUNT”	  	 	3	  
	         1.13
	 	“DIRECTOR”	  	 	3	  
	         1.14
	 	“DIRECTOR FEES”	  	 	3	  
	         1.15
	 	“DISABILITY”	  	 	3	  
	         1.16
	 	“ELECTIVE DEFERRAL”	  	 	3	  
	         1.17
	 	“ELECTIVE DEFERRAL ACCOUNT”	  	 	3	  
	         1.18
	 	“EMPLOYEE”	  	 	3	  
	         1.19
	 	“EMPLOYER”	  	 	3	  
	         1.20
	 	“ERISA”	  	 	3	  
	         1.21
	 	“ESIP”	  	 	3	  
	         1.22
	 	“ESIP DEFERRAL CONTRIBUTION”	  	 	4	  
	         1.23
	 	“ESIP DEFERRAL CONTRIBUTION ACCOUNT”	  	 	4	  
	         1.24
	 	“ESIP MAKE-UP ACCOUNT”	  	 	4	  
	         1.25
	 	“ESIP MAKE-UP CONTRIBUTION”	  	 	4	  
	         1.26
	 	“ESIP MATCHING CONTRIBUTION”	  	 	4	  
	         1.27
	 	“ESIP MATCHING CONTRIBUTION ACCOUNT”	  	 	4	  
	         1.28
	 	“HOPP”	  	 	4	  
	         1.29
	 	“IN-SERVICE DISTRIBUTION”	  	 	4	  
	         1.30
	 	“INVESTMENT COMMITTEE”	  	 	4	  
	         1.31
	 	“MEASUREMENT VEHICLES”	  	 	4	  
	         1.32
	 	“PARTICIPANT”	  	 	4	  
	         1.33
	 	“PERFORMANCE-BASED COMPENSATION”	  	 	5	  
	         1.34
	 	“PLAN”	  	 	5	  
	         1.35
	 	“PLAN YEAR”	  	 	5	  
	         1.36
	 	“RETIREMENT,” “RETIRE(S)” OR “RETIRED”	  	 	5	  
	         1.37
	 	“RETIREMENT DATE”	  	 	5	  
	         1.38
	 	“SEPARATION FROM SERVICE BENEFIT”	  	 	5	  
	         1.39
	 	“SEPARATION FROM SERVICE”	  	 	5	  
	         1.40
	 	“TRUST”	  	 	6	  
	         1.41
	 	“TRUSTEE”	  	 	6	  
	         1.42
	 	“UNFORESEEABLE FINANCIAL EMERGENCY”	  	 	6	  
		
	 ARTICLE 2 ELIGIBILITY AND
PARTICIPATION
	  	 	6	  
	         2.1
	 	ELIGIBILITY	  	 	6	  
	         2.2
	 	ENROLLMENT AND PARTICIPATION	  	 	6	  

  
 i 

							
	         2.3
	 	CESSATION OF PARTICIPATION	  	 	6	  
		
	 ARTICLE 3 DEFERRALS AND CONTRIBUTIONS
	  	 	7	  
	         3.1
	 	BASE ANNUAL SALARY	  	 	7	  
	         3.2
	 	ANNUAL BONUS	  	 	7	  
	         3.3
	 	ESIP DEFERRAL CONTRIBUTION	  	 	8	  
	         3.4
	 	DIRECTOR FEES	  	 	8	  
	         3.5
	 	NEWLY-ELIGIBLE EMPLOYEES OR DIRECTORS	  	 	8	  
	         3.6
	 	COMPANY CONTRIBUTION	  	 	9	  
	         3.7
	 	ESIP MAKE-UP CONTRIBUTION	  	 	9	  
	         3.8
	 	ESIP MATCHING CONTRIBUTION	  	 	9	  
		
	 ARTICLE 4 ACCOUNTS
	  	 	9	  
	         4.1
	 	ESTABLISHMENT OF ACCOUNTS	  	 	9	  
	         4.2
	 	VESTING	  	 	10	  
	         4.3
	 	CREDITING/DEBITING OF ACCOUNTS	  	 	10	  
	         4.4
	 	FICA AND OTHER TAXES	  	 	11	  
		
	 ARTICLE 5 DISTRIBUTION OF ACCOUNT
	  	 	12	  
	         5.1
	 	TIME FOR DISTRIBUTION	  	 	12	  
	         5.2
	 	IN-SERVICE DISTRIBUTION	  	 	12	  
	         5.3
	 	BENEFITS UPON RETIREMENT	  	 	12	  
	         5.4
	 	SEPARATION FROM SERVICE BENEFIT	  	 	13	  
	         5.5
	 	BENEFITS UPON DEATH	  	 	13	  
	         5.6
	 	DISABILITY BENEFIT	  	 	13	  
	         5.7
	 	UNFORESEEABLE FINANCIAL EMERGENCY	  	 	13	  
	         5.8
	 	DISCRETION TO ACCELERATE PAYMENT	  	 	14	  
		
	 ARTICLE 6 BENEFICIARY DESIGNATION
	  	 	14	  
	         6.1
	 	BENEFICIARY	  	 	14	  
	         6.2
	 	NO BENEFICIARY DESIGNATION	  	 	14	  
	         6.3
	 	DOUBT AS TO BENEFICIARY	  	 	15	  
	         6.4
	 	DISCHARGE OF OBLIGATIONS	  	 	15	  
		
	 ARTICLE 7 LEAVE OF ABSENCE
	  	 	15	  
		
	 ARTICLE 8 TERMINATION, AMENDMENT OR
MODIFICATION
	  	 	15	  
	         8.1
	 	TERMINATION	  	 	15	  
	         8.2
	 	AMENDMENT	  	 	15	  
	         8.3
	 	EFFECT OF PAYMENT	  	 	16	  
		
	 ARTICLE 9 ADMINISTRATION
	  	 	16	  
	         9.1
	 	COMMITTEE DUTIES	  	 	16	  
	         9.2
	 	AGENTS	  	 	16	  
	         9.3
	 	BINDING EFFECT OF DECISIONS	  	 	16	  
	         9.4
	 	INDEMNITY OF COMMITTEE	  	 	16	  
		
	 ARTICLE 10 CLAIMS PROCEDURES
	  	 	16	  
	         10.1
	 	PRESENTATION OF CLAIM	  	 	16	  
	         10.2
	 	NOTIFICATION OF DECISION	  	 	17	  
	         10.3
	 	REVIEW OF A DENIED CLAIM	  	 	17	  

  
 ii 

							
	         10.4
	 	DECISION ON REVIEW	  	 	17	  
	         10.5
	 	LEGAL ACTION	  	 	18	  
		
	 ARTICLE 11 TRUST
	  	 	18	  
	         11.1
	 	ESTABLISHMENT OF THE TRUST	  	 	18	  
	         11.2
	 	INTERRELATIONSHIP OF THE PLAN AND THE TRUST	  	 	18	  
	         11.3
	 	DISTRIBUTIONS FROM THE TRUST	  	 	18	  
		
	 ARTICLE 12 MISCELLANEOUS PROVISIONS
	  	 	18	  
	         12.1
	 	STATUS OF PLAN	  	 	18	  
	         12.2
	 	UNSECURED GENERAL CREDITOR	  	 	19	  
	         12.3
	 	NONASSIGNABILITY	  	 	19	  
	         12.4
	 	RIGHT TO OFFSET	  	 	19	  
	         12.5
	 	NOT A CONTRACT OF EMPLOYMENT	  	 	19	  
	         12.6
	 	GOVERNING LAW	  	 	19	  
	         12.7
	 	NOTICE	  	 	19	  
	         12.8
	 	SUCCESSORS	  	 	20	  
	         12.9
	 	SPOUSE’S INTEREST	  	 	20	  
	         12.10
	 	VALIDITY	  	 	20	  
	         12.11
	 	INCOMPETENT	  	 	20	  
	         12.12
	 	DISTRIBUTION IN THE EVENT OF TAXATION	  	 	20	  
	         12.13
	 	INSURANCE	  	 	20	  
	         12.14
	 	EFFECT ON OTHER PLANS	  	 	20	  

  
 iii

 LEVI STRAUSS & CO. 

DEFERRED COMPENSATION PLAN 
 FOR 
 EXECUTIVES AND OUTSIDE DIRECTORS 

(Amended and Restated Effective as of January 1, 2011) 
 PURPOSE 
 The Company established the Plan effective as of January 1, 2003 to
provide a means by which a select group of management or highly compensated employees and directors, who contribute materially to the continued growth, development and future business success of the Company and its participating subsidiaries, may
elect to defer receipt of all or a portion of their compensation or bonuses to save for retirement. This Plan shall be unfunded for tax purposes and for purposes of Title I of ERISA. 
 The Plan was amended and restated effective as of January 1, 2008 to make such modifications as were necessary to comply with Code Section 409A regarding deferred compensation as well as other
necessary and desirable changes. Any amounts previously earned and deferred under the Plan which were vested as of December 31, 2004 shall be administered pursuant to the terms of the Plan in effect at that time. From January 1, 2005
through December 31, 2007, the Company operated the Plan in good faith compliance with Code Section 409A and guidance issued thereunder, permitting distribution elections and changes consistent with IRS transition relief. Such elections
and changes are documented in materials distributed to participants and completed election forms. 
 The Plan is hereby amended and restated
effective as of January 1, 2011 to make modifications to the Plan and reflect changes in the Company’s deferred compensation programs. 
 The Company reserves the right in its sole discretion to further amend or modify the Plan to comply with regulations or other guidance promulgated by the Department of the Treasury under Code
Section 409A. 
 ARTICLE 1 
 DEFINITIONS 
 For purposes of this Plan, unless
otherwise clearly apparent from the context, the following phrases or terms shall have the following indicated meanings: 
  

	1.1	“Account” shall mean the Participant’s Elective Deferral Account, Company Contribution Account, ESIP Deferral Contribution Account, ESIP Make-Up
Account and ESIP Matching Contribution Account. The Account shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the benefits to be paid to a Participant, or his or her designated
Beneficiary, pursuant to this Plan. 

  

	1.2	“Affiliate” means any member of the group of corporations, trades or businesses or other organizations comprising the “controlled group” with
Levi Strauss & Co. under Section 414 of the Code. 

  

	1.3	“Annual Bonus” shall mean any of the following bonuses payable by the Company during a Plan Year to a Participant while an Employee or Director and a
Participant during that Plan Year: 

  

	 	(a)	Payments under the Levi Strauss & Co. Annual Incentive Plan, except for such payments in the Plan Year in which the Employee is hired or becomes newly eligible
during a Plan Year; 

	 	(b)	Payments under the Leadership Shares Plan of Levi Strauss & Co.; 

  

	 	(c)	Payments under any regularly paid bonus program of Levi Strauss & Co.; 

 

	 	(d)	Any retention bonus payable to an Employee; 

  

	 	(e)	Any non-recurring special bonus that the Committee designates, in writing, as eligible for deferral under this Plan; or 

 

	 	(f)	Payments pursuant to a deferral agreement between the Company and a newly-eligible employee. 

 

	1.4	“Annual Company Contribution” shall mean, for any one Plan Year, the amount determined in accordance with Section 3.6. 

 

	1.5	“Annual Installment Method” shall be an annual installment payment payable over the number of years selected by the Participant in accordance with this
Plan. Each annual installment shall be calculated by multiplying the applicable vested Account by a fraction, the numerator of which is one (1) and the denominator of which is the remaining number of annual payments due the Participant;
provided that the first installment may be further reduced to account for a partial-year payment, if applicable. For the first installment, the vested Account balance of the Participant shall be calculated as of the close of business on, or as soon
as practicable after, the Participant’s Retirement Date. Remaining annual installments shall be calculated as of the December 31st immediately preceding the Plan Year in which the installment is payable. 

 

	1.6	“Base Annual Salary” shall mean the annual cash compensation payable by the Company during a Plan Year to a Participant for services rendered while an
Employee and a Participant during that Plan Year, excluding bonuses, commissions, overtime, fringe benefits, stock options, relocation expenses, incentive payments, non-monetary awards, directors fees and other fees, and automobile and other
allowances paid to a Participant for services rendered (whether or not such allowances are included in the Employee’s gross income). Base Annual Salary shall be calculated before reduction for amounts deferred or contributed by the Participant
pursuant to all qualified or non-qualified plans of the Company, but shall be calculated to include amounts not otherwise included in the Participant’s gross income under Code Sections 125, 132(f), 402(e)(3), 402(h), or 403(b).

  

	1.7	“Beneficiary” or “Beneficiaries” shall mean one or more persons, trusts, estates or other entities, designated in accordance with
Article 6, that are entitled to receive benefits under this Plan upon the death of a Participant. 

  

	1.8	“Board” shall mean the board of directors of Levi Strauss & Co. The Board may delegate to any committee, subcommittee or any of its members,
or to any agent, its authority to perform any act under the Plan, including without limitation those matters involving the exercise of discretion. Any such delegation of discretion will be subject to revocation at any time at the discretion of the
Board. Any reference in this Plan document to the Board with respect to such delegated authority will be deemed a reference to its delegate or delegates. 

  

	1.9	“Code” shall mean the Internal Revenue Code of 1986, as it may be amended from time to time. 

 

	1.10	“Committee” shall mean the Administrative Committee for Retirement Plans, as described in Article 9. 

  
 2 

	1.11	“Company” shall mean Levi Strauss & Co., a Delaware corporation, or any successor to all or substantially all of the Company’s assets or
business. 

  

	1.12	“Company Contribution Account” shall mean (i) the sum of the Participant’s Company Contributions, plus (ii) amounts credited or debited
in accordance with all the applicable crediting and debiting provisions of this Plan that relate to the Participant’s Company Contribution Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to
this Plan that relate to the Participant’s Company Contribution Account. 

  

	1.13	“Director” shall mean an individual who receives remuneration while serving as a member of the board of directors of the Company, provided he or she is
also not an Employee while serving in such capacity. 

  

	1.14	“Director Fees” shall mean the annual fees payable by the Company during a Plan Year to a Participant, including retainer fees and meeting fees, for
services performed while a Director and a Participant during that Plan Year. 

  

	1.15	“Disability” shall mean the Participant is determined to be totally disabled by the Social Security Administration. 

 

	1.16	“Elective Deferral” shall mean that portion of a Participant’s Base Annual Salary, Annual Bonus and Director Fees that a Participant elects to
defer in accordance with Article 3 for any one Plan Year. In the event of a Participant’s Retirement, Disability, death or Separation from Service prior to the end of a Plan Year, such year’s Elective Deferral shall be the actual
amount withheld prior to such event. 

  

	1.17	“Elective Deferral Account” shall mean (i) the sum of all of a Participant’s Elective Deferrals, plus (ii) amounts credited or debited
in accordance with all the applicable crediting and debiting provisions of this Plan that relate to the Participant’s Elective Deferral Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to
this Plan that relate to his or her Elective Deferral Account. 

  

	1.18	“Employee” shall mean any individual whose remuneration for services rendered to an Employer, as recognized by an Employer, is reported on Federal
Income Tax Form W-2. An individual’s status as an “Employee” will be determined by the Committee and such determination will be conclusive and binding on all persons notwithstanding any contrary determination of Employee status by any
court or governmental agency, including, but not limited to, the Internal Revenue Service. The term Employee excludes an Employee who is designated as ineligible pursuant to a written agreement between the Employee and an Employer.

  

	1.19	“Employer” means the Company and/or any of its subsidiaries (now in existence or hereafter formed or acquired) that have adopted the Plan with the
written consent of the Board. 

  

	1.20	“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as it may be amended from time to time. 

 

	1.21	“ESIP” shall mean the Employee Savings and Investment Plan of Levi Strauss & Co., as it may be amended from time to time, or any successor
plan. 

  
 3 

	1.22	“ESIP Deferral Contribution” shall mean a percentage of a Participant’s compensation, as defined in the ESIP (but without regard to the limit
imposed by Section 401(a)(17)), that the Participant elects to defer in accordance with Article 3 for any Plan Year. 

  

	1.23	“ESIP Deferral Contribution Account” shall mean (i) the sum of all of a Participant’s ESIP Deferral Contributions plus (ii) amounts
credited or debited in accordance with all the applicable crediting and debiting provisions of this Plan that relate to the Participant’s ESIP Deferral Contributions, less (iii) all distributions made to the Participant or his or her
Beneficiary pursuant to this Plan that relate to his or her ESIP Deferral Contribution Account. 

  

	1.24	“ESIP Make-Up Account” shall mean (i) the sum of all of a Participant’s ESIP Make-Up Contributions, plus (ii) amounts credited or
debited in accordance with all the applicable crediting or debiting provisions of this Plan that related to the Participant’s ESIP Make-Up Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to
this Plan that relate to the Participant’s ESIP Make-Up Account. 

  

	1.25	“ESIP Make-Up Contribution” shall mean, for any fiscal year of the Company, the amount of Employer matching contributions under the ESIP that would
have been payable to or for an Employee while a participant in ESIP but for the deferral of Base Annual Salary or Annual Bonus under the Plan. 

  

	1.26	“ESIP Matching Contribution” shall mean an amount equal to 125% of the Participant’s ESIP Deferral Contribution and elective deferral contribution
under the ESIP up to 6% of the Participant’s compensation, as defined in the ESIP (but without regard to the limitation imposed by Code Section 401(a)(17)) reduced by the amount of matching contributions actually made on behalf of the
Participant under the ESIP. 

  

	1.27	“ESIP Matching Contribution Account” shall mean (i) the sum of all of a Participant’s ESIP Matching Contributions plus (ii) amounts
credited or debited in accordance with all the applicable crediting and debiting provisions of this Plan that relate to the Participant’s ESIP Matching Contributions, less (iii) all distributions made to the Participant or his or her
Beneficiary pursuant to this Plan that relate to his or her ESIP Matching Contribution Account. 

  

	1.28	“HOPP” shall mean the Revised Home Office Pension Plan of Levi Strauss & Co., as it may be amended from time to time, or any successor plan.

  

	1.29	“In-Service Distribution” shall mean a lump sum payment in an amount that is equal to all or a portion of the Elective Deferral the Participant elects
to have distributed as an In-Service Distribution under Section 5.2, credited and debited in the manner provided in Section 4.3, and calculated as of the last business day of the month prior to the date distribution occurs.

  

	1.30	“Investment Committee” shall mean the Investment Committee for Retirement Plans. 

 

	1.31	“Measurement Vehicles” shall mean the investment vehicles designated by the Investment Committee, in its sole discretion, and selected by a Participant
for purposes of crediting and debiting such Participant’s Account, as described in Section 4.3. 

  

	1.32	“Participant” shall mean any Employee or Director who (i) is selected by the Company to participate in the Plan and (ii) has an Account in
the Plan. 

  
 4 

	1.33	“Performance-Based Compensation” means compensation the entitlement to or amount of which is contingent on the satisfaction of pre-established
organizational or individual performance criteria relating to a performance period of at least 12 consecutive months, as determined by the Committee in accordance with Treasury Regulation Section 1.409A-1(e). 

 

	1.34	“Plan” shall mean this Levi Strauss & Co. Deferred Compensation Plan for Executives and Outside Directors, as it may be amended from time to
time. 

  

	1.35	“Plan Year” shall mean a period beginning on January 1 of each calendar year and continuing through December 31 of such calendar year.

  

	1.36	“Retirement,” “Retire(s)” or “Retired” shall mean: 

 

	 	(a)	In the case of an Employee, the Participant’s Separation From Service with an Employer at or after attaining (i) age 55 with 15 years of service or
(ii) age 65 with five years of service. 

  

	 	(b)	In the case of a Director, the Director’s Separation from Service, for a reason other than death. 

 

	1.37	“Retirement Date” shall mean the first day of the month coincident with or next following the date a Participant Retires. 

 

	1.38	“Separation from Service Benefit” shall mean the benefit set forth in Article 5. 

 

	1.39	“Separation from Service” shall mean the Participant’s termination of employment with all Employers and Affiliates, voluntarily or involuntarily,
for any reason other than on account of death or Disability, as determined by the Committee in accordance with Treasury Regulations Section 1.409A-1(h). In determining whether a Participant has experienced a Separation from Service, the
following provisions shall apply: 

  

	 	(a)	For a Participant who provides services to an Employer as an Employee, except as otherwise provided in part (c) of this Section, a Separation from Service shall
occur when such Participant has experienced a termination of employment with such Employer. A Participant shall be considered to have experienced a termination of employment when the facts and circumstances indicate that the Participant and his or
her Employer reasonably anticipate that either (i) no further services will be performed for the Employer after a certain date, or (ii) that the level of bona fide services the Participant will perform for the Employer after such date
(whether as an Employee or as an independent contractor) will permanently decrease to less than 50% of the average level of bona fide services performed by such Participant over the immediately preceding 36 month period (or the full period of
services to the Employer if the Participant has been providing services to the Employer less than 36 months. 

Notwithstanding the foregoing, the Participant’s employment relationship with the Employer shall be treated as continuing intact
while the individual is on military leave, sick leave or other bona fide leave of absence if the period of such leave does not exceed six months (or longer, if required by statute or contract). If the period of the leave exceeds six months and the
Participant’s right to reemployment is not provided either by statute or contract, the employment relationship is deemed to terminate on the first date immediately following such six-month period for purposes of Code Section 409A only.

  
 5 

	 	(b)	For a Participant who provides services to an Employer as an independent contractor, a Separation from Service shall occur upon the expiration of the contract (or in
the case of more than one contract, all contracts) under which services are performed for such Employer, provided that the expiration of such contract(s) is determined by the Committee to constitute a good-faith and complete termination of the
contractual relationship between the Participant and such Employer. 

  

	1.40	“Trust” shall mean one or more trusts established by the Company in its sole discretion. 

 

	1.41	“Trustee” shall mean the individuals or corporation appointed by the Investment Committee under Section 11.1 to administer the Trust in accordance
with the terms of the Plan and trust agreement. 

  

	1.42	“Unforeseeable Financial Emergency” shall mean a severe financial hardship to the Participant resulting from (a) an illness or accident of the
Participant, the Participant’s spouse, a Beneficiary, or the Participant’s dependent (as defined in Code Section 152, without regard to Code Section 152(b)(1), (b)(2), and (d)(1)(B)); (b) loss of the Participant’s
property due to casualty (including the need to rebuild a home following damage to a home not otherwise covered by insurance, for example, not as a result of a natural disaster); or (c) other similar extraordinary and unforeseeable
circumstances arising as a result of events beyond the control of the Participant, all as determined by the Committee based on the relevant facts and circumstances. In any case, payment may not be made to the extent that such hardship is or may be
relieved (x) through reimbursement or compensation by insurance or otherwise, (y) by liquidation of the Participant’s assets, to the extent the liquidation of such assets would not itself cause severe financial hardship, or
(z) by cessation of deferrals under the Plan. 

 ARTICLE 2 

ELIGIBILITY AND PARTICIPATION 

 

	2.1	Eligibility. Participation in the Plan shall be limited to a select group of management or highly compensated Employees and Directors of the Company, as
determined by the Committee in its sole discretion. 

  

	2.2	Enrollment and Participation. To participate initially, an Employee or Director shall properly complete and timely submit a deferral election form to the
Committee. Election forms shall be completed and filed with the Committee by the time periods set forth in Article 3 for the particular type of compensation elected for deferral or during such other enrollment period as the Committee determines in
accordance with such Article. If no election form is filed or if submission of an election form is not timely, the amount deferred shall be deemed to be zero. A Participant may change or revoke a deferral election at any time before such election
becomes irrevocable, which shall occur as of the applicable deadline specified in Article 3 unless the Committee establishes an earlier deadline. Unless the Committee determines otherwise, a new election form shall be required for each Plan Year in
which a Participant wishes to defer a type of compensation eligible for deferral. 

  

	2.3	Cessation of Participation. 

  

	 	(a)	 If the Committee determines that a Participant no longer qualifies as a member of a select group of management or highly compensated employees under
Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA, the Committee shall prevent the Participant from making future deferral elections as of the first day of the next succeeding Plan Year until

  
 6 

 
the Participant again satisfies the Plan’s eligibility requirements. In the event such Participant again satisfies the Plan’s eligibility requirements, in order to participate in the
Plan, he or she must timely complete and file an election form with the Committee by the time periods set forth in Article 3. Such Participant shall remain a Participant in the Plan until his or her Account balance is paid in full. 

 

	 	(b)	Elective Deferrals and/or an ESIP Deferral Contribution commitment made by a Participant who incurs a Disability shall be canceled upon such event. If such Participant
returns to active employment and he or she is eligible to participate in the Plan, a deferral election may be made in accordance with Articles 2 and 3. Elective Deferrals and/or ESIP Deferral Contributions made by a Participant who has been
determined by the Committee to experience an Unforeseeable Financial Emergency will cease. Any deferral election in a subsequent Plan Year will be subject to the provisions of Articles 2 and 3. In either event, the Participant shall remain a
Participant in the Plan until his or her Account is paid in full. 

  

	 	(c)	Notwithstanding anything in the Plan to the contrary, a Participant shall cease to be an active Participant (i.e., no deferrals or contributions) upon the earliest to
occur of his or her Separation from Service, death or Disability. Any outstanding deferral election shall be given effect to the extent any amounts covered by such election are paid after such event. 

ARTICLE 3 

DEFERRALS AND CONTRIBUTIONS 

 

	3.1	Base Annual Salary. 

  

	 	(a)	For each Plan Year, a Participant may elect to defer a minimum of 5% and a maximum of 100% of his or her Base Annual Salary. If an election is made for less than 5%,
the amount deferred shall be deemed to be zero. 

  

	 	(b)	A Participant’s election form with respect to the deferral of Base Annual Salary shall be filed with the Committee before the beginning of each Plan Year in which
the Base Annual Salary is earned. 

  

	 	(c)	Subject to Section 2.2, such deferral elections shall be irrevocable as of the first day of the Plan Year to which the election form relates.

  

	3.2	Annual Bonus. 

  

	 	(a)	For each Plan Year, a Participant may elect to defer a minimum of 1% and a maximum of 100% of each component of his or her Annual Bonus. 

 

	 	(b)	A Participant’s election form with respect to the deferral of an Annual Bonus shall be filed with the Committee before the beginning of the Plan Year in which the
Annual Bonus is earned. Notwithstanding the foregoing, to the extent the Committee determines that an Annual Bonus constitutes Performance-Based Compensation, the Committee in its sole discretion may permit a Participant to file a deferral election
form on or before a date that occurs no later than six months before the end of the performance period. In no event shall an election form for Performance Based Compensation be filed when such compensation is readily ascertainable (within the
meaning of Code Section 409A and regulations issued thereunder). 

  
 7 

	 	(c)	Subject to Section 2.2, such deferral election shall be irrevocable as of the first day of the Plan Year to which the deferral election form relates or the
deadline established by the Committee for Performance-Based Compensation, as the case may be. 

  

	3.3	ESIP Deferral Contribution. 

  

	 	(a)	For each Plan Year, a Participant may make an ESIP Deferral Contribution as a percentage (1% minimum and 75% maximum) of the Participant’s compensation, as defined
under the ESIP, but without regard to the limitation imposed by Code Section 401(a)(17). Such election shall not take effect until the Participant is no longer eligible to make elective deferrals (other than catch-up contributions) under the
ESIP because he or she has reached the maximum amount allowed under either Code Section 402(g) or Code Section 401(a)(17). 

  

	 	(b)	A Participant’s election form with respect to an ESIP Deferral Contribution shall be filed with the Committee before the beginning of each Plan Year in which the
ESIP Deferral Contribution is earned. 

  

	 	(c)	Subject to Section 2.2, such deferral election shall be irrevocable as of the first day of the Plan Year to which the deferral election form relates.

  

	3.4	Director Fees. 

  

	 	(a)	For each Plan Year, a Participant may elect to defer a minimum of 5% and a maximum of 100% (in a whole percentage) of Director Fees. If an election is made for less
than 5%, the amount deferred shall be deemed to be zero. 

  

	 	(b)	A Participant’s election form with respect to the deferral of Director Fees shall be filed with the Committee before the beginning of each Plan Year in which the
Director Fees are earned. 

  

	 	(c)	Subject to Section 2.2, such deferral elections shall be irrevocable as of the first day of the Plan Year to which the election form relates.

  

	3.5	Newly-Eligible Employees or Directors. Notwithstanding anything in the Plan to the contrary, a newly-eligible Employee or Director shall be given thirty
days from the date he becomes eligible to participate in the Plan (as determined in accordance with Treasury Regulation Section 1.409A-2(a)(7)(ii) and the “plan aggregation” rules provided in Treasury Regulation
Section 1.409A-1(c)(2)) to complete and submit an election form with respect to Base Annual Salary, an Annual Bonus or Director Fees, and such election shall apply only to amounts paid for services performed after the date on which the election
is effective. If an election made in accordance with this Section 3.5 relates to compensation earned based upon a specified performance period, the amount eligible for deferral shall be equal to (i) the total amount of compensation for the
performance period, multiplied by (ii) a fraction, the numerator of which is the number of days remaining in the service period after the Participant’s deferral election is made, and the denominator of which is the total number of days in
the performance period. Subject to Section 2.2, any deferral election made in accordance with this Section 3.5 shall be irrevocable as of the thirtieth day after the date the Employee or Director becomes eligible to participate in the
Plan. 

  
 8 

	3.6	Company Contribution.  

  

	 	(a)	During any Plan Year, an Employer may, in its discretion, credit an amount to a Participant’s Company Contribution Account. The Participant must be employed on the
date the contribution is made in order to receive such contribution. The Participant’s distribution and Measurement Vehicle elections for the year in which the Company Contribution is made will apply to the amount credited to the
Participant’s Company Contribution Account. If the Participant does not have a distribution or Measurement Vehicle election for the year in which the Company Contribution is made, such amount will be invested in the default Measurement Vehicle
and paid in accordance with Sections 5.4, 5.5, 5.6, 5.7 and 5.8. 

  

	 	(b)	For any Plan Year in which an Employer makes a profit-sharing contribution under the ESIP, an Employer may, in its discretion, credit an amount to a Participant’s
Company Contribution Account equal to the difference which would have been allocated under the ESIP without regard to the Code Section 415 limit and the aggregate amount actually allocated to the ESIP. No contribution will be made under this
subsection unless the employee is eligible to participate in the ESIP as of the last working day of such Plan Year. 

  

	3.7	ESIP Make-Up Contribution. A Participant’s ESIP Make-Up Account shall be credited an ESIP Make-Up Contribution, if applicable.

  

	3.8	ESIP Matching Contribution. An Employer, in its sole and absolute discretion, may credit a Participant’s ESIP Matching Contribution Account with an
ESIP Matching Contribution if such Participant elected to make an ESIP Deferral Contribution. 

 ARTICLE 4

 ACCOUNTS 

 

	4.1	Establishment of Accounts. Bookkeeping accounts shall be established for each Participant to reflect the deferrals of amounts made for the
Participant’s benefit, together with adjustments for income, gains or losses attributable thereto. Accounts are established solely for the purpose of tracking deferrals made by Participants or contributions made by an Employer and any income or
adjustments thereto. Unless the Committee determines otherwise, the Plan shall maintain and credit the following sub-Accounts: 

  

	 	(a)	Company Contribution Account. The Company Contribution amount, if any, shall be credited to the Company Contribution Account as of the date determined by the
Employer in its sole discretion. 

  

	 	(b)	Elective Deferral Account. The Participant’s Elective Deferral Account shall reflect a Participant’s Elective Deferrals credited on his or her behalf.
The Base Annual Salary portion of the Elective Deferral shall be withheld from payroll according to the Participant’s election. The Annual Bonus and/or Director Fees portion of the Elective Deferral shall be withheld at the time the Annual
Bonus and/or Director Fees are, or otherwise would be, paid to the Participant. Elective Deferrals shall be credited to a Participant’s Elective Deferral Account at the time such amounts would otherwise have been paid to the Participant, or as
soon as practicable thereafter. 

  
 9 

	 	(c)	ESIP Deferral Account. A Participant’s ESIP Deferral Contribution shall be withheld from payroll and credited to his or her ESIP Deferral Account according
to the Participant’s election. 

  

	 	(d)	ESIP Make-Up Account. ESIP Make-Up Contributions shall be credited to a Participant’s ESIP Make-Up Account in accordance with the Company’s payroll
practice. 

  

	 	(e)	ESIP Matching Contribution Account. ESIP Matching Contributions, if any, shall be credited to a Participant’s ESIP Matching Contribution Account for each
period during a Plan Year, as determined by the Board of Directors. 

  

	4.2	Vesting. Subject to Section 12.2: 

  

	 	(a)	A Participant shall at all times be 100% vested in his or her Elective Deferral Account, ESIP Deferral Contribution Account, ESIP Make-Up Account and ESIP Matching
Contribution Account; 

  

	 	(b)	Except as provided in subsection (c), a Participant shall be vested in his or her Company Contribution Account in accordance with the vesting schedule(s) set forth in
his or her employment agreement or any other agreement entered into between the Participant and the Employer. If not addressed in such an agreement, a Participant shall vest in his or her Company Contribution Account in accordance with a schedule
established by the Company; and 

  

	 	(c)	Upon Retirement a Participant’s Company Contribution Account shall immediately become 100% vested. 

 

	4.3	Crediting/Debiting of Accounts. A Participant shall be permitted to allocate his or her Account among Measurement Vehicles. The Investment Committee may
discontinue, substitute or add a Measurement Vehicle. The Investment Committee or its delegate shall give the Participant ample advance notice of such a change. The Measurement Vehicles are used solely to credit or debit amounts to a
Participant’s Account. 

  

	 	(a)	Election of Measurement Vehicles. The Participant shall specify on the election form the percentage of his or her Account to be allocated to a Measurement
Vehicle in 1% increments. A Participant may change the percentage allocation among Measurement Vehicles by submitting a new election form. Any change will take effect as soon as reasonably practicable after the Form is submitted.

  

	 	(b)	Failure to Elect Measurement Vehicles. If a Participant fails to make an election to allocate his or her Account under this Section 4.3, the
Committee will apply a default Measurement Vehicle until the Participant submits an election form selecting one or more Measurement Vehicle(s). 

  

	 	(c)	Crediting or Debiting Method. A Participant’s Account shall be credited or debited on a daily basis based on the performance of each Measurement Vehicle
selected by the Participant. The performance of each elected Measurement Vehicle (either positive or negative) will be based on the performance of the underlying measurement standard (e.g., underlying mutual fund or the Company’s performance).

  

	 	(d)	 No Actual Investment. The Measurement Vehicles are to be used for measurement purposes only, and the crediting or debiting of such amounts to a
Participant’s Account 

  
 10 

 
shall not be construed as an actual investment of the Account in any investment vehicle underlying such Measurement Vehicle. In the event that an Employer or the Trustee, in its own
discretion, decides to invest funds in any or all of the investment vehicles underlying any Measurement Vehicles, no Participant shall have any rights in or to such investments themselves. A Participant’s Account shall at all times be a
bookkeeping entry only and shall not represent any investment made on his or her behalf by the Company or the Trust; the Participant shall at all times remain an unsecured creditor of the Company as to his or her Account balance. 

 

	 	(e)	Distributions. Upon distribution, the Committee or its delegate shall determine the value of the Participant’s Account based on the applicable Measurement
Vehicle(s). If the Participant elected to receive his or her benefit in the Annual Installment Method and the Account is allocated among two or more Measurement Vehicles, the Committee shall reduce the balance of each Measurement Vehicle on a
pro-rata basis to make each installment payment. 

  

	4.4	FICA and Other Taxes. 

  

	 	(a)	Elective Deferrals. The Participant’s Employer shall withhold the Participant’s share of FICA and other employment taxes that apply to the Elective
Deferral from that portion of the Participant’s Base Annual Salary and/or Annual Bonus that is not deferred hereunder. If necessary, the Committee may make a distribution from the Participant’s Elective Deferral Account pursuant to
Section 5.8 in order to comply with this Section 4.4. 

  

	 	(b)	ESIP Make-Up Contributions. The Participant’s Employer shall withhold the Participant’s share of FICA and other employment taxes that apply to the ESIP
Make-Up Contribution from such ESIP Make-Up Contribution. If necessary, the Committee may reduce the Participant’s Base Annual Salary and/or Annual Bonus that is not deferred hereunder in order to comply with this Section 4.4.

  

	 	(c)	ESIP Deferral Contributions and ESIP Matching Contributions. The Participant’s Employer shall withhold the Participant’s share of FICA and other
employment taxes that may apply to the ESIP Deferral Contribution and ESIP Matching Contribution. If necessary, the Participant’s Base Annual Salary and/or Annual Bonus that is not deferred hereunder may be reduced in order to comply with this
Section 4.4. 

  

	 	(d)	Company Contribution Account. When a Participant becomes vested in a portion of his or her Company Contribution Account, the Participant’s Employer shall
withhold from the Participant’s Base Annual Salary and/or Annual Bonus that is not deferred, in a manner determined by the Employer, the Participant’s share of FICA and other employment taxes. If necessary, the Committee may make a
distribution from the vested portion of the Participant’s Company Contribution Account pursuant to Section 5.8 in order to comply with this Section 4.4. 

 

	 	(e)	Distributions. The Participant’s Employer, or the Trustee, shall withhold from any payments made to a Participant under this Plan all federal, state and
local income, employment and other taxes required to be withheld by the Employer, or the Trustee, in connection with such payments, in amounts and in a manner to be determined in the sole discretion of the Employer and the Trustee to the extent
permissible under Code Section 409A and regulations issued thereunder. 

  
 11 

 ARTICLE 5 
 DISTRIBUTION OF ACCOUNT 
  

	5.1	Time for Distribution. Except as otherwise provided in this Article 5 and Sections 8.1, 12.4 and 12.12, distribution of a Participant’s Account shall
be made on the earliest to occur of: 

  

	 	(a)	The date elected by a Participant under Section 5.2 with respect to an In-Service Distribution; 

 

	 	(b)	The date set forth in Section 5.3 with respect to the Participant’s Retirement; 

 

	 	(c)	The date set forth in Section 5.4 with respect to the Participant’s Separation from Service; 

 

	 	(d)	The date set forth in Section 5.5 with respect to the Participant’s death; or 

 

	 	(e)	The date set forth in Section 5.6 with respect to the Participant’s Disability. 

Notwithstanding any other provision of the Plan to the contrary, in no event shall the distribution of any Account be accelerated to a
time earlier than which it would otherwise have been paid, whether by amendment of the Plan, exercise of the Committee’s discretion or otherwise, except as permitted by Section 5.8 or Treasury Regulations issued pursuant to Code
Section 409A. 
  

	5.2	In-Service Distribution. A Participant may irrevocably elect to receive all or a portion of an Elective Deferral in the form of a future lump sum
In-Service Distribution while an Employee or a Director. Subject to the other terms and conditions of this Plan, each In-Service Distribution shall be paid out during the first 60 days of any Plan Year designated by the Participant that is at least
three Plan Years after the Plan Year in which the Elective Deferral was deferred. For example, if a three-year In-Service Distribution is elected for Elective Deferrals that are deferred in the Plan Year commencing January 1, 2008, the
In-Service Distribution would become payable during a 60 day period commencing January 1, 2012. 

  

	 	(a)	Election to Further Defer In-Service Distribution. A Participant may submit a written request to the Committee to postpone (up to two (2) times with respect
to each In-Service Distribution election) his or her In-Service Distribution election up to a minimum of five additional years, provided that such request is received by the Committee at least 12 months prior to the date on which the particular
In-Service Distribution election would have expired. 

  

	 	(b)	Other Benefits Take Precedence Over In-Service Distribution. Should an event occur that triggers a benefit under Sections 5.3, 5.4, 5.5, or 5.6, any Elective
Deferral or ESIP Deferral Contribution, subject to credits or debits, as applicable, that is subject to an In-Service Distribution election under this Section 5.2 shall not be paid in accordance with Section 5.2 but shall be paid in
accordance with the other applicable Section. 

  

	5.3	Benefits Upon Retirement. Upon a Participant’s Retirement, the Participant’s vested Account calculated as of the close of business on, or as
soon as practicable after, his or her Retirement Date shall be paid or begin to be paid within 60 days after the Participant’s Retirement Date. Remaining installments, if any, shall be paid during each January following his or her Retirement
Date. 

  
 12 

 Payment shall be made in such form as determined below, taking into account any changes to
an elected form of payment pursuant to paragraph (c). 
  

	 	(a)	A Participant’s remaining Account balance shall be paid in a lump sum if: 

 

	 	(i)	timely elected by the Participant pursuant to the Plan; or 

  

	 	(ii)	the Participant’s remaining Account balance at the time of Retirement is less than $25,000 even if the Participant elected an installment payment form.

  

	 	(b)	Subject to paragraph (a)(ii), a Participant may elect to receive payment of his or her Account balance pursuant to the Annual Installment Method over a period of two,
five, 10, 15 or 20 years. 

  

	 	(c)	The Participant may change his or her election to an allowable alternative payout form (lump sum or alternative installment period) by submitting a new election form to
the Committee, provided that (i) any such election form is received at least 12 months before the Participant’s Retirement Date and (ii) payment is delayed for a minimum of five (5) years after the date the initial payment would
otherwise have been paid or commenced. If the Participant’s Retirement Date occurs before such 12 month period has elapsed, then the election to change the payment form shall not take effect. 

 

	5.4	Separation from Service Benefit. Upon a Participant’s Separation from Service for any reason other than Retirement, death or Disability, the
Participant’s vested Account calculated as of the close of business on, or as soon as practicable after, the date the Participant experiences a Separation from Service shall be paid in a lump sum within 60 days after the date of Separation from
Service. 

  

	5.5	 Benefits Upon Death. If a Participant dies (i) after Retirement but before the retirement benefit is paid in full or
(ii) before he Retires, experiences a Separation from Service, or suffers a Disability, the Participant’s Beneficiary shall receive a lump sum payment equal to the remaining vested balance in the Participant’s Account calculated as
soon as practicable after the Participant’s death. The lump sum payment shall be made by the end of the year in which the Participant dies or, if later, by the 15th day of the third month following the Participant’s death. 

 

	5.6	Disability Benefit. A Participant who incurs a Disability shall receive a lump sum payment equal to his or her vested Account balance calculated as soon
as practicable after the Participant incurs the Disability. Such lump sum payment shall be made within 60 days of the Committee’s determination of the Participant’s Disability. 

 

	5.7	 Unforeseeable Financial Emergency. A Participant who experiences an Unforeseeable Financial Emergency may petition the Committee in
writing to receive a partial or full payout from the Plan upon demonstration that he has suffered an Unforeseeable Financial Emergency, and that the distribution is necessary to alleviate the financial hardship created by the Unforeseeable Financial
Emergency. The payout shall not exceed the lesser of (i) the sum of the Participant’s Elective Deferral Account, ESIP Deferral Contribution Account, ESIP-Make Up Account or ESIP Matching Contribution Account, plus the vested portion of his
or her Company Contribution Account, calculated as if such Participant were receiving a Separation from Service Benefit, or (ii) the amount reasonably needed to satisfy the Unforeseeable Financial Emergency. If the petition for a payout is
approved by the Committee payout shall be made within 60 days of the date of approval. Upon the Committee’s determination that a Participant has experienced an 

  
 13 

 
Unforeseeable Financial Emergency, the Participant’s existing deferral election shall be cancelled pursuant to Section 2.3(b). 

 

	5.8	Discretion to Accelerate Payment. 

  

	 	(a)	The Committee shall have the discretion to make a distribution, or accelerate the time or schedule of payment from a Participant’s Account if payment is required
for: 

  

	 	(i)	FICA, FUTA and/or the corresponding withholding provisions of applicable state and local taxes with respect to compensation deferred under the Plan. Any such
distribution shall not exceed the aggregate of such tax withholding and shall reduce the Participant’s account balance to the extent of such distributions; or 

 

	 	(ii)	Payment of state, local or foreign tax obligations arising from participation in the Plan that apply to an amount deferred under the Plan and FUTA resulting from such
payment. Any such payment shall not exceed the amount of such taxes due as a result of Plan participation. 

  

	 	(b)	The Committee is authorized to accelerate the time or schedule of a payment under the Plan to an individual other than the Participant, or to make a payment under the
Plan to an individual other than the Participant, to the extent necessary to fulfill a domestic relations order (as defined in Code Section 414(p)(1)(B)). Payment to an alternate payee under a domestic relations order shall be made in a lump
sum within 60 days after the Committee approves such order. 

  

	 	(c)	The Committee shall have the discretion to accelerate the time or schedule of a payment under the Plan if the Plan fails to meet the requirements of Code
Section 409A and regulations promulgated thereunder, provided that any such payment does not exceed the amount required to be included in income as a result of such failure. 

ARTICLE 6 

BENEFICIARY DESIGNATION 

 

	6.1	Beneficiary. Each Participant shall have the right, at any time, to designate a Beneficiary(ies) (both primary and contingent) to receive his or her
vested Account upon death. A Participant may designate or change a Beneficiary by completing and signing a Beneficiary designation form. Upon the Committee’s receipt of a Participant’s new Beneficiary designation form, all prior
Beneficiary designations filed by that Participant shall be canceled. The Committee shall be entitled to rely on the last Beneficiary designation form filed by the Participant and received by the Committee prior to his or her death.

  

	6.2	No Beneficiary Designation. If a Participant fails to designate a Beneficiary or if all designated Beneficiaries predecease the Participant, then payment
of a Participant’s vested Account shall be made in the following order: 

  

	 	(a)	To the Participant’s surviving spouse, if any; 

  

	 	(b)	If the Participant has no surviving spouse, then to his or her living children; 

 

	 	(c)	If the Participant has no living children, then to his or her living parents; 

 

	 	(d)	If the Participant has no living parents, then to his or her living brothers and sisters; or 

  
 14 

	 	(e)	If the Participant has no living brothers or sisters, then to his or her estate. 

 

	6.3	Doubt as to Beneficiary. If the Committee has any doubt as to the proper Beneficiary to receive payments pursuant to this Plan, the Committee shall have
the right, exercisable in its discretion, to cause the Company to either withhold such payments until this matter is resolved to the Committee’s satisfaction, or pay such amount into any court of appropriate jurisdiction, with such court
ordered payment completely discharging the liability of the Plan, the Company, and the Committee. 

  

	6.4	Discharge of Obligations. The payment of benefits under the Plan to a Beneficiary shall fully and completely discharge the Plan, the Company and the
Committee from all further obligations under this Plan with respect to that Beneficiary. 

 ARTICLE 7

 LEAVE OF ABSENCE 

If a Participant is authorized by an Employer to take a paid or unpaid bona fide leave of absence for any reason, the employment
relationship is treated as continuing intact and deferral elections shall remain in force if the period of such leave does not exceed six months, or longer, so long as the Participant retains a right to reemployment under an applicable statute or by
contract. If the Participant is on a leave of absence during the time for filing deferral election forms, the Participant shall be permitted to complete a deferral election form for the upcoming Plan Year. Upon return from leave, deferrals shall
occur pursuant to the election form in effect for that Plan Year. If no election was made for the Plan Year in which the Participant returns from leave, no deferral shall be withheld. 

ARTICLE 8 

TERMINATION, AMENDMENT OR MODIFICATION 

 

	8.1	Termination. Although the Company anticipates that it will continue the Plan for an indefinite period of time, the Company reserves the right to
discontinue its sponsorship of the Plan and/or to terminate the Plan in full or in part at any time with respect to any or all of its participating Employees, Directors, and adopting subsidiaries, regardless of any resulting income tax or other
consequences to Participants and their Beneficiaries. 

  

	 	(a)	Partial Termination. The Company may partially terminate the Plan by instructing the Committee not to accept any additional deferral elections. If such a partial
termination occurs, the Plan shall continue to operate and be effective with regard to deferral elections entered into prior to the effective date of such partial termination. 

 

	 	(b)	Complete Termination. The Company may completely terminate the Plan by instructing the Committee not to accept any additional deferral elections, and by
terminating all ongoing deferral elections effective as of the end of the Plan Year during which the Plan termination occurs. In the event of complete termination, the Company reserves the discretion to accelerate distribution of Participants’
Accounts (including those Participants in pay status pursuant to an installment election) in accordance with Treasury Regulation Section 1.409A-3(j)(4)(ix). 

 

	8.2	 Amendment. The Company reserves the right, at any time, to amend or modify the Plan in whole or in part, regardless of any resulting
income tax or other consequences to Participants and their Beneficiaries. However, no amendment or modification shall decrease or restrict the value of a Participant’s vested Account in existence at the time the amendment or modification is
made, 

  
 15 

 
calculated as if the Participant had Retired or experienced a Separation from Service, as appropriate, as of the effective date of the amendment or modification. The amendment or modification of
the Plan shall not affect any Participant or Beneficiary who has become entitled to the payment of benefits under the Plan as of the date of the amendment or modification. The Company’s power to amend or modify the Plan includes the power to
suspend or freeze participation in the Plan, provided such suspension or freeze does not cause a prohibited acceleration of compensation under Code Section 409A. In such circumstance, the Company may, in its sole discretion, re-institute the
ability of any Participant or group of Participants to make deferrals under Article 3 at any time, provided such action is taken consistent with Code Section 409A. 
  

	8.3	Effect of Payment. The full payment of a Participant’s benefit under the Plan shall completely discharge all obligations to a Participant and his or
her designated Beneficiaries. 

 ARTICLE 9 

ADMINISTRATION 

 

	9.1	Committee Duties. Except as otherwise provided in this Article 9, this Plan shall be administered by the Committee. Members of the Committee may be
Participants under this Plan. The Committee shall also have the discretion and authority to establish, amend, interpret, and enforce all appropriate rules and procedures for the administration of the Plan and to resolve any and all questions
including interpretations of this Plan. Any individual serving on the Committee who is a Participant shall not vote or act on any matter relating solely to himself or herself. When making a determination or calculation, the Committee shall be
entitled to rely on information furnished by a Participant or the Company. 

  

	9.2	Agents. In the administration of this Plan, the Committee may, from time to time, employ agents, including Employees, and delegate to them such
administrative duties as it sees fit (including acting through a duly appointed representative) and may from time to time consult with counsel who may be counsel to the Company. Any such delegation will be subject to revocation at any time at the
discretion of the Committee. Any reference in this Plan document to the Committee with respect to such delegated authority will be deemed a reference to its delegate or delegates. 

 

	9.3	Binding Effect of Decisions. Any decision or action of the Committee with respect to any question arising out of or in connection with the administration,
interpretation and application of the Plan and the rules and procedures established hereunder shall be final and conclusive and binding upon all persons having any interest in the Plan. 

 

	9.4	Indemnity of Committee. The Company shall indemnify and hold harmless the Committee, the members of the Committee, and any Employee to whom the duties of
the Committee may be delegated, against any and all claims, losses, damages, expenses or liabilities incurred by the Company arising from any action or failure to act with respect to this Plan, except in the case of willful misconduct by the
Committee, any of its members, or any such Employee. 

 ARTICLE 10 

CLAIMS PROCEDURES 

 

	10.1	 Presentation of Claim. Any Participant may submit to the Committee a written claim for a determination with respect to the amounts
distributable to him or her from the Plan. If such claim relates to the contents of a notice received by the Participant, the claim must be made within 

  
 16 

 
60 days after such notice was received by the Participant. All other claims must be made within 180 days of the date on which the event that caused the claim to arise occurred. The
claim must state with particularity the determination desired by the Participant. 
  

	10.2	Notification of Decision. The Committee shall consider a Participant’s claim within 90 days of receiving the claim; provided that if the Committee
determines that special circumstances require an extension of time for processing the claim, written notice of the extension shall be furnished to the Participant prior to the termination of the initial 90 day period. In no event shall such
extension exceed a period of 90 days from the end of the initial 90 day period. The extension notice shall indicate the special circumstances requiring an extension of time. The Committee shall notify the Participant in writing:

  

	 	(a)	That the Participant’s requested determination has been made, and that the claim has been allowed in full; or 

 

	 	(b)	That the Committee has reached a conclusion contrary, in whole or in part, to the Participant’s requested determination. In such case, the notice shall set forth
in a manner calculated to be understood by the Participant: 

  

	 	(i)	The specific reason(s) for the denial of the claim, or any part of it; 

  

	 	(i)	Specific reference(s) to pertinent provisions of the Plan upon which such denial was based; 

 

	 	(ii)	A description of any additional material or information necessary for the Participant to perfect the claim, and an explanation of why such material or information is
necessary; 

  

	 	(iii)	An explanation of the claim review procedure set forth in Section 10.3 below; and 

 

	 	(iv)	A statement of the Participant’s right to bring a civil action under ERISA following an adverse benefit determination on review. 

 

	10.3	Review of a Denied Claim. On or before 60 days after receiving a notice from the Committee that a claim has been denied, in whole or in part, a
Participant (or the Participant’s duly authorized representative) may file with the Committee a written request for a review of the denial of the claim. The Participant (or the Participant’s duly authorized representative) may:

  

	 	(a)	Upon request and free of charge, have reasonable access to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA
regulations) to the Participant’s claim for benefits; 

  

	 	(b)	Submit written comments or other documents; and/or 

  

	 	(c)	Request a hearing, which the Committee, in its sole discretion, may grant. 

 

	10.4	 Decision on Review. The Committee shall render its decision on review no later than 60 days after the Committee receives the
Participant’s written request for a review of the denial of the claim; provided that if the Committee determines that special circumstances require an extension of time for processing the claim, written notice of the extension shall be
furnished to the 

  
 17 

 
Participant prior to the termination of the initial 60 day period. In no event shall such extension exceed a period of 60 days from the end of the initial 60 day period. The extension notice
shall indicate the special circumstances requiring an extension of time. In rendering its decision, the Committee shall take into account all comments, documents, records and other information submitted by the Participant relating to the claim,
without regard to whether such information was submitted or considered in the initial benefit determination. The decision shall be written in a manner calculated to be understood by the Participant, and shall contain: 

 

	 	(a)	Specific reasons for the decision; 

  

	 	(b)	Specific reference(s) to the pertinent Plan provisions upon which the decision was based; 

 

	 	(c)	A statement that the Participant is entitled to receive, upon request and free of charge, reasonable access to and copies of, all documents, records and other
information relevant (as defined in applicable ERISA regulations) to the Participant’s claim for benefits; and 

  

	 	(d)	A statement of the Participant’s right to bring a civil action under ERISA. 

 

	10.5	Legal Action. A Participant’s compliance with the foregoing provisions of this Article 10 is a mandatory prerequisite to a Participant’s
right to commence any legal or equitable action with respect to any claim for benefits under this Plan. 

ARTICLE 11 

TRUST 
  

	11.1	Establishment of the Trust. In order to provide assets from which to fulfill the obligations of the Participants and their Beneficiaries under the Plan,
the Company may establish a Trust by a trust agreement with a third party, the Trustee, to which the Company may, in its discretion, contribute cash or other property, including securities issued by the Company. The Trustee shall be authorized, upon
written instructions received from the Committee or investment manager appointed by the Committee, to invest and reinvest the assets of the Trust in accordance with the applicable trust agreement, including the disposition of Trust assets and
reinvestment of the proceeds in one or more investment vehicles designated by the Committee or investment manager appointed by the Committee. 

  

	11.2	Interrelationship of the Plan and the Trust. The provisions of the Plan shall govern the rights of a Participant or Beneficiary to receive distributions
pursuant to the Plan. The provisions of the Trust shall govern the rights of the Company, Participants, Beneficiaries and the creditors of the Company to the assets transferred to the Trust. 

 

	11.3	Distributions From the Trust. The Company’s obligations under the Plan may be satisfied with Trust assets distributed pursuant to the terms of the
Trust, and any such distribution shall reduce the Company’s obligations under this Plan. 

 ARTICLE 12

 MISCELLANEOUS PROVISIONS 

 

	12.1	Status of Plan. The Plan is intended to be a plan that is not qualified within the meaning of Code Section 401(a) and that “is unfunded and is
maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees” within the meaning of ERISA Sections 201(2), 301(a)(3) and 401(a)(1). The Plan shall be
administered and interpreted in a manner consistent with that intent. 

  
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	12.2	Unsecured General Creditor. Participants and their Beneficiaries, heirs, successors and assigns shall have no legal or equitable rights, interests or
claims in any property or assets of the Company. For purposes of the payment of benefits under this Plan, any and all of the Company’s assets shall be, and remain, the general assets of the Company. The Company’s obligation under the Plan
shall be merely that of an unfunded and unsecured promise to pay money in the future. 

  

	12.3	Nonassignability. Neither a Participant nor any other person shall have any right to commute, sell, assign, transfer, pledge, anticipate, mortgage or
otherwise encumber, transfer, hypothecate, alienate or convey in advance of actual receipt, any amounts payable hereunder, or any part thereof, which are, and all rights to which are expressly declared to be, non-assignable and non-transferable. No
part of the amounts payable shall, prior to actual payment, be subject to seizure, attachment, garnishment or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a Participant or any other person, be
transferable by operation of law, including, but not limited to, a Participant’s or any other person’s bankruptcy or insolvency. 

  

	12.4	Right to Offset. Notwithstanding any Plan provision to the contrary, payment under the Plan may be accelerated or a payment may be made under the Plan as
satisfaction of a debt of the Participant to an Employer where such debt is incurred in the ordinary course of the service relationship between the Participant and Employer, provided that the entire amount of reduction in any of the
Participant’s taxable years does not exceed $5,000 and the reduction is made at the same time and in the same amount as the debt otherwise would have been due and collected from the Participant. 

 

	12.5	Not a Contract of Employment. Nothing contained in the Plan will give any Employee or Director the right to be retained in the employment of the Company
or affect the right of the Company to dismiss any Employee or Director. The adoption and maintenance of the Plan will neither constitute a contract between the Company and any Employee or Director nor consideration for, or an inducement to or
condition of, the employment or services of any Employee or Director. 

  

	12.6	Governing Law. Subject to ERISA, the provisions of this Plan shall be construed and interpreted according to the internal laws of the State of California
without regard to its conflicts of laws principles. 

  

	12.7	Notice. Any notice or filing required or permitted to be given to the Committee under this Plan shall be sufficient if in writing and hand-delivered, or
sent by mail or private delivery service to the following address: Administrative Committee, c/o U.S. Retirement Benefits, Manager, Human Resources, Levi Strauss & Co., P.O. Box 7215, San Francisco, CA 94120. 

Alternatively, any notice or filing required or permitted to be given to the Committee under this Plan may be given in writing by
facsimile or other electronic media, as determined to be acceptable by the Committee. Notice to the Committee shall be deemed given as of the date of actual receipt by the Committee. 

Any notice or filing required or permitted to be given to a Participant under this Plan shall be sufficient if in writing and
hand-delivered, or sent by mail or private delivery service to the last known address of such Participant appearing on the records of the Company, or sent by facsimile or other electronic media, as determined to be acceptable by the Committee.
Notice to a Participant shall be deemed given when personally delivered, when sent by mail or private delivery service, or when successfully transmitted using facsimile or other electronic means. 

  
 19 

	12.8	Successors. The provisions of this Plan shall bind and inure to the benefit of the Company and its successors and assigns and the Participant and the
Participant’s designated Beneficiaries. 

  

	12.9	Spouse’s Interest. The interest in the benefits hereunder of a Participant’s spouse who has predeceased the Participant shall automatically pass
to the Participant and shall not be transferable prior to or upon death by such spouse in any manner, including but not limited to such spouse’s will, nor shall such interest pass under the laws of intestate succession.

  

	12.10	Validity. In case any provision of this Plan shall be illegal or invalid for any reason, such illegality or invalidity shall not affect the remaining
parts hereof, but this Plan shall be construed and enforced as if such illegal or invalid provision had never been inserted herein. 

  

	12.11	Incompetent. If the Committee determines in its discretion that a benefit under this Plan is to be paid to a minor, a person declared legally incompetent
or to a person incapable of handling the disposition of that person’s property, the Committee may direct payment of such benefit to the guardian, legal representative or person having the care and custody of such minor, incompetent or incapable
person. The Committee may require proof of minority, incompetence, incapacity or guardianship, as it may deem appropriate prior to distribution of the benefit. Any payment of a benefit shall be a payment for the account of the Participant and the
Participant’s Beneficiary, as the case may be, and shall be a complete discharge of any liability under the Plan for such payment amount. 

  

	12.12	Distribution in the Event of Taxation. If, for any reason, all or any portion of a Participant’s benefits under this Plan becomes taxable to the
Participant prior to receipt, a Participant may petition the Committee or Trustee for a distribution of that portion of his or her benefit that has become taxable. Upon the grant of such a petition, which grant shall not be unreasonably withheld,
the Company shall distribute to the Participant immediately available funds in an amount equal to the taxable portion of his or her benefit (which amount shall not exceed a Participant’s unpaid vested Account under the Plan). If the petition is
granted, the tax liability distribution shall be made within 90 days of the date when the Participant’s petition is granted. Such a distribution shall affect and reduce the benefits to be paid under this Plan. 

 

	12.13	Insurance. The Company, on its own behalf or on behalf of the Trustee, and, in its sole discretion, may apply for and procure insurance on the life of the
Participant, in such amounts and in such forms as the Trust may choose. The Company or the Trustee, as the case may be, shall be the sole owner and beneficiary of any such insurance. The Participant shall have no interest whatsoever in any such
policy or policies, and at the request of the Company shall submit to medical examinations and supply such information and execute such documents as may be required by the insurance company or companies to whom the Company has applied for insurance.

  

	12.14	Effect on Other Plans. The benefits provided for a Participant and Participant’s Beneficiary under the Plan are in addition to any other benefits
available to such Participant under any other plan or program for employees of the Company. The Plan shall supplement and shall not supersede, modify or amend any other such plan or program except as may otherwise be expressly provided.

  
 20 

 * * * 

IN WITNESS WHEREOF, the Company has adopted this Plan document as of 12/29, 2010. 

 

			
	LEVI STRAUSS & CO.
		
	By:	 	/s/ Cathy Unruh
		 	Cathy Unruh
	
	Title: Senior Vice President, Human Resources

  
 21

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