Document:

Form of Visa Inc. 2007 Equity Incentive Comp Plan - RSU Award

 Exhibit 10.37 
 Notice of Restricted Stock Unit Grant 
  

			
	Participant:	  	 <first_name> <middle_name> <last_name>

		
	Employee ID:	  	 <emp_id>

		
	Company:	  	 Visa Inc.

		
	Notice:	  	 You have been granted the following Restricted Stock Units in accordance with the terms of the Visa Inc. 2007 Equity Incentive Compensation Plan (the “Plan”) and
the Restricted Stock Unit Award Agreement (“Agreement”) attached hereto.

		
	Type of Award:	  	 Restricted Stock Units

		
	Grant ID:	  	 <award_id>

		
	Grant:	  	 Grant Date: <award_date>
 Number of Shares Underlying Restricted Stock Units: <shares_awarded>

		
	Period of Restriction:	  	 The Period of Restriction applicable to those portions of the total number of your Restricted Stock Units listed in the “Portion of Restricted Stock Units”
column below shall commence on the Grant Date and shall lapse on the corresponding date listed in the “Vesting Date” column below.

		
		  	 Shares on Vesting Date
 <vesting_schedule>

		
		  	 However, in the event of your termination of employment due to death, Disability or Retirement (as those terms are defined in the Agreement), the Period of Restriction
will immediately lapse as to the full number of Restricted Stock Units.

		
	Acceptance:	  	 If you do not want to accept your Restricted Stock Units award, please complete the on-line form (“Accept or Reject Your Grant”) as promptly as possible,
but, in any case, within thirty (30) days after the Grant Date, to reject your Restricted Stock Units award. If you do not reject your award within thirty (30) days after the Grant Date, you will have accepted your Restricted Stock Units
award and agreed to the terms and conditions set forth in this Agreement and the terms and conditions of the Plan. You can access this on-line form through your account at eac.schwab.com.

 Visa Inc. 
 2007 Equity Incentive Compensation Plan 
 Restricted Stock Unit Award Agreement

 This Restricted Stock Unit Award Agreement (this “Agreement”), dated as of the Grant Date (the
“Grant Date”) set forth in the Notice of Restricted Stock Unit Grant attached as Schedule A hereto (the “Grant Notice”), is made between Visa Inc. (the “Company”) and the Participant set forth in the Grant Notice. The
Grant Notice is included in and made part of this Agreement. 
 1.      Definitions.

 Capitalized terms used but not defined herein have the meaning set forth in the Visa Inc. 2007 Equity Incentive
Compensation Plan (the “Plan”). 
 2.      Grant of the Restricted Stock
Units. 
 Subject to the provisions of this Agreement and the provisions of the Plan, the Company hereby grants to
the Participant, pursuant to the Plan, the number of Restricted Stock Units set forth in the Grant Notice (the “Restricted Stock Units”). 
 3.      Dividend Equivalents. 
 Each Restricted
Stock Unit shall entitle the Participant to Dividend Equivalents with respect to regular cash dividends that would otherwise be paid on the Share underlying such Restricted Stock Unit during the period from the Grant Date to the date such Share is
delivered in accordance with Section 5. Any such Dividend Equivalent shall be paid to the Participant at (or within thirty (30) days following) the time such related dividends are paid to holders of Shares. 

4.      Period of Restriction; Termination. 

The Period of Restriction with respect to the Restricted Stock Units shall be as set forth in the Grant Notice. Subject to the
terms of the Plan and the remaining provisions of this Section 4, all Restricted Stock Units for which the Period of Restriction had not lapsed prior to the date of the Participant’s Termination shall be immediately forfeited.
Notwithstanding the foregoing to the contrary: 
 (a)      Death and
Disability.    Upon Termination of the Participant due to death or disability (within the meaning of the Company’s or its Affiliate’s long -term disability plan under which the Participant is covered from time to
time (“Disability”)), then the Period of Restriction shall immediately lapse as to the full number of Restricted Stock Units. 
 (b)      Retirement.    Upon termination of the Participant at or after the earlier of (1) attainment of normal retirement eligibility under the
generally applicable retirement plan of the Company, a Subsidiary or an Affiliate under which the Participant is covered in his or her home country; or (2) attainment of age sixty and five years of completed service and six months of service
from the date of grant (“Retirement”), then the Period of Restriction shall lapse as to the full number of Restricted Stock Units. 
 (c)      Without Cause.    Upon Termination of the Participant by the Company, a Subsidiary or an Affiliate without Cause (as defined below), whether prior
to or following a Change of Control, then the Period of Restriction shall immediately lapse as to the full number of Restricted Stock Units. For the avoidance of doubt, Section 14.1(b) of the Plan shall not apply to the Restricted Stock to the
extent such provision conflicts with this Section 4(c). 

 (d)      Good Reason following a Change of
Control.    If a Change of Control occurs, and, at any time prior to the second (2nd) anniversary of the Change of Control, the Participant terminates his or her employment for Good Reason (as defined below), then the
Period of Restriction shall immediately lapse as to the full number of Restricted Stock Units. For the avoidance of doubt, Section 14.1(b) of the Plan shall not apply to the Restricted Stock Units to the extent such provision conflicts with
this Section 4(d). 
 (e)      Other Terminations.    Upon
Termination of the Participant due to any reason other than due to death, Disability or Retirement, termination without Cause or termination for Good Reason following a Change of Control, then all Restricted Stock Units for which the Period of
Restriction had not lapsed prior to the date of such Termination shall be immediately forfeited. 

5.      Payment of Restricted Stock Units. 

As soon as reasonably practicable following the lapse of the applicable portion of the Period of Restriction, but in no event
later than 90 days following the date of such lapse, the Company shall cause to be delivered to the Participant (a) the full number of Shares underlying the Restricted Stock Units as to which such portion of the Period of Restriction has so
lapsed, (b) a cash payment determined by reference to the then-current Fair Market Value of such Shares or (c) a combination of Shares and such cash payment as the Committee, in its sole discretion, shall determine, subject to satisfaction
of applicable tax withholding obligations with respect thereto in accordance with Section 6 of this Agreement; provided, however, that if the Participant’s Termination occurs under any circumstances other than death, any such
delivery of Shares or cash payment due to lapse of the Period of Restriction upon such Termination shall be delayed for six months from the date of such Participant’s Termination if the Participant is a “specified employee” (as such
term is defined in Section 409A(a)(2)(B)(i) of the Code) determined in accordance with the methodology established by the Company as in effect on the date of such Termination. 

6.      Taxes and Withholdings. 

Upon the expiration of the applicable portion of the Period of Restriction, or such earlier date on which the value of any
Restricted Stock Units otherwise becomes includible in the Participant’s gross income for income tax purposes or on which taxes are otherwise payable, any taxes of any kind required by law to be withheld with respect to such Restricted Stock
Units shall be satisfied by the Company withholding Shares or cash otherwise deliverable or payable to the Participant pursuant to the Restricted Stock Unit award; provided, however, that the amount of any Shares so withheld shall not
exceed the amount necessary to satisfy required Federal, state, local and non-United States withholding obligations using the minimum statutory withholding rates for Federal, state, local and/or non-U.S. tax purposes, including payroll taxes, that
are applicable to supplemental taxable income, subject to any limitations as the Committee may prescribe and subject to applicable law , based on the Fair Market Value of the Shares on the payment date. The Company, a Subsidiary or an Affiliate may,
in the discretion of the Committee, provide for alternative arrangements to satisfy applicable tax withholding requirements in accordance with Article XVI of the Plan. 

Regardless of any action the Company, an Affiliate and /or a Subsidiary takes with respect to any or all tax withholding
(including social insurance contribution obligations, if any), the Participant acknowledges that the ultimate liability for all such taxes is and remains the Participant’s responsibility (or that of the Participant’s beneficiary), and that
none of the Company, an Affiliate and /or a Subsidiary: (a) makes any representations or undertakings regarding the treatment of any tax withholding in connection with any aspect of the Restricted Stock Units, including the grant or vesting
thereof, the subsequent sale of Shares and the receipt of any dividends; or (b) commits to structure the terms of the Restricted Stock Units or any aspect of the Restricted Stock Units to reduce or eliminate the Participant’s (or his or
her beneficiary’s) liability for such tax. 

 7.      No Rights as a Shareholder Prior to Issuance
of Shares. 
 Neither the Participant nor any other person shall become the beneficial owner of the Shares underlying
the Restricted Stock Units, nor have any rights to dividends or other rights as a shareholder with respect to any such Shares, until and after such Shares, if any, have been actually issued to the Participant and transferred on the books and records
of the Company or its agent in accordance with the terms of the Plan and this Agreement. 

8.      No Right to Continued Employment. 

Neither the Restricted Stock Units nor any terms contained in this Agreement shall confer upon the Participant any rights or
claims except in accordance with the express provisions of the Plan and this Agreement, and shall not give the Participant any express or implied right to be retained in the employment or service of the Company or any Subsidiary or Affiliate for any
period or in any particular position or at any particular rate of compensation, nor restrict in any way the right of the Company or any Subsidiary or Affiliate , which right is hereby expressly reserved, to modify or terminate the Participant’s
employment or service at any time for any reason. The Participant acknowledges and agrees that any right to lapse of the Period of Restriction is earned only by continuing as an employee of the Company or a Subsidiary or Affiliate at the will of the
Company or such Subsidiary or Affiliate, or satisfaction of any other applicable terms and conditions contained in the Plan and this Agreement, and not through the act of being hired or being granted the Restricted Stock Units hereunder. 

9.      The Plan. 

By accepting any benefit under this Agreement, the Participant and any person claiming under or through the Participant shall be
conclusively deemed to have indicated his or her acceptance and ratification of, and consent to, all of the terms and conditions of the Plan and this Agreement and any action taken under the Plan by the Board, the Committee or the Company, in any
case in accordance with the terms and conditions of the Plan. In the event of any conflict between the provisions of the Plan and this Agreement, the provisions of the Plan shall control, and this Agreement shall be deemed to be modified
accordingly. This Agreement is subject to all the terms, provisions and conditions of the Plan, which are incorporated herein by reference, and to such rules, policies and regulations as may from time to time be adopted by the Committee. The Plan
and the prospectus describing the Plan can be found on the Company’s HR intranet. A paper copy of the Plan and the prospectus shall be provided to the Participant upon the Participant’s written request to the Company at 900 Metro Center
Blvd., Foster City, California 94404, Attention: Stock Plan Administrator. 

10.      Certain Defined Terms. 

For purposes of this Agreement, the following terms shall have the meanings set forth below: 

(a)      “Cause”    shall have the meaning set forth in the Visa Inc.
Executive Severance Plan (the “Executive Severance Plan”); provided that, if at the Grant Date, the Participant is party to an effective employment agreement with the Company, a Subsidiary or an Affiliate, the definition of Cause
set forth in such agreement shall apply until the date on which such employment agreement expires. 

(b)      “Good Reason”    shall have the meaning set forth in the
Executive Severance Plan; provided that, if at the Grant Date, the Participant is party to an effective employment agreement with the Company, a Subsidiary or an Affiliate, the definition of Good Reason set forth in such agreement shall apply
until the date on which such employment agreement expires. 
 11.      Compliance with
Laws and Regulations. 
 (a)      The Restricted Stock Units and the obligation of the
Company to deliver Shares or cash payments hereunder shall be subject in all respects to (i) all applicable Federal and 

 
state laws, rules and regulations; and (ii) any registration, qualification, approvals or other requirements imposed by any government or regulatory agency or body which the Committee shall,
in its discretion, determine to be necessary or applicable. Moreover, the Company shall not deliver any certificates for Shares to the Participant or any other person pursuant to this Agreement if doing so would be contrary to applicable law. If at
any time the Company determines, in its discretion, that the listing, registration or qualification of Shares upon any national securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory body, is
necessary or desirable, the Company shall not be required to deliver any certificates for Shares to the Participant or any other person pursuant to this Agreement unless and until such listing, registration, qualification, consent or approval has
been effected or obtained, or otherwise provided for , free of any conditions not acceptable to the Company. 

(b)      It is intended that any Shares received upon expiration of the Period of Restriction shall
have been registered under the Securities Act. If the Participant is an “affiliate” of the Company, as that term is defined in Rule 144 under the Securities Act (“Rule 144”), the Participant may not sell the Shares received
except in compliance with Rule 144. Certificates representing Shares issued to an “affiliate” of the Company may bear a legend setting forth such restrictions on the disposition or transfer of the Shares as the Company deems appropriate to
comply with federal and state securities laws. 
 (c)      If at any time the Shares are
not registered under the Securities Act, and/or there is no current prospectus in effect under the Securities Act with respect to the Shares, the Participant shall execute, prior to the delivery of any Shares to the Participant by the Company
pursuant to this Agreement, an agreement (in such form as the Company may specify) in which the Participant represents and warrants that the Participant is purchasing or acquiring the Shares acquired under this Agreement for the Participant 's own
account, for investment only and not with a view to the resale or distribution thereof, and represents and agrees that any subsequent offer for sale or distribution of any kind of such Shares shall be made only pursuant to either (i) a
registration statement on an appropriate form under the Securities Act, which registration statement has become effective and is current with regard to the Shares being offered or sold; or (ii) a specific exemption from the registration
requirements of the Securities Act, but in claiming such exemption the Participant shall, prior to any offer for sale of such Shares, obtain a prior favorable written opinion, in form and substance satisfactory to the Company, from counsel for or
approved by the Company , as to the applicability of such exemption thereto. 

12.      Notices. 

All notices by the Participant or the Participant’s successors or permitted assigns shall be addressed to the Company at 900
Metro Center Blvd., Foster City, California 94404, Attention: Stock Plan Administrator, or such other address as the Company may from time to time specify. All notices to the Participant shall be addressed to the Participant at the
Participant’s address in the Company's records. 
 13.      Other Plans.

 The Participant acknowledges that any income derived from this Restricted Stock Units award shall not affect the
Participant’s participation in, or benefits under, any other benefit plan or other contract or arrangement maintained by the Company or any Subsidiary or Affiliate. 

14.      Clawback Policy. 

Notwithstanding any other provision of this Agreement to the contrary, any cash incentive compensation received by the Participant, Restricted
Stock Unit granted, Shares issued and/or amount paid hereunder, and/or any amount received with respect to any sale of any such Shares, shall be subject to potential cancellation, recoupment, rescission, payback or other action in accordance with
the terms of the Company’s Clawback Policy, as it may be amended from time to time (the “Policy”). The Participant 

 
agrees and consents to the Company’s application, implementation and enforcement of (a) the Policy or any similar policy established by the Company that may apply to the Participant and
(b) any provision of applicable law relating to cancellation, rescission, payback or recoupment of compensation, and expressly agrees that the Company may take such actions as are necessary to effectuate the Policy, any similar policy (as
applicable to the Participant) or applicable law without further consent or action being required by the Participant. To the extent that the terms of this Agreement and the Policy or any similar policy conflict, then the terms of such policy shall
prevail.Form of Visa Inc. 2007 Equity Incentive Comp Plan - Performance Share Award

 Exhibit 10.38 
 VISA INC. 2007 EQUITY INCENTIVE COMPENSATION PLAN 
 Performance Share Award Agreement

 This PERFORMANCE SHARE AWARD AGREEMENT (this “Agreement”), dated November 5, 2011 (the
“Grant Date”), is by and between VISA INC. (the “Company”) and <PARTC_NAME> (the “Participant”), pursuant to the Visa Inc. 2007 Equity Incentive Compensation Plan (the
“Plan”). Capitalized terms that are not defined herein shall have the meanings given to such terms in the Plan. 
 WHEREAS, pursuant to the provisions of the Plan, the Committee has authorized the grant to the Participant of Performance Shares in accordance with the terms and conditions of this Agreement; and 

WHEREAS, the Participant and the Company desire to enter into this Agreement to evidence and confirm the grant of such
Performance Shares on the terms and conditions set forth herein. 
 NOW, THEREFORE, the Participant and the
Company agree as follows: 
 1.      Grant of Performance
Shares.    Pursuant to the provisions of the Plan and this Agreement, the Company on the Grant Date has granted and hereby evidences the grant to the Participant, subject to the terms and conditions set forth herein and in
the Plan, of an award of <OPTS_GRANTED> Performance Shares (this “Award”). 

2.      Payment of Earned and Vested Performance Shares.    Subject to the
provisions of this Section 2 and Sections 4 and 5 of the Agreement, the Payment Value of each Performance Share covered by this Award that has been determined, in writing, to be earned and vested pursuant to Sections 3, 4(b) or 5 shall be paid
or delivered to the Participant on a date that is as soon as administratively practicable (but no later than 60 days) after the applicable vesting date described in Sections 3(b), 4(b) or 5 on which such Performance Share initially becomes vested.
For purposes of this Agreement, “Payment Value” means the Fair Market Value of a Share on the applicable vesting date. Payments hereunder shall be made in Shares, unless the Committee, in its discretion, determines to make such
payments in cash or a combination of cash and Shares. The foregoing to the contrary notwithstanding, if the Participant’s Separation from Service occurs under any circumstances other than death, any such payment due by reason of such Separation
from Service shall be delayed for six months from the date of the Participant’s Separation from Service if the Participant is a “specified employee” (as such term is defined in Section 409A(a)(2)(B)(i) of the Code) determined in
accordance with the methodology established by the Company as in effect on the date of such Separation from Service. 

3.      Performance Criteria and Vesting Applicable to Performance Shares. 

(a)      Performance Criteria. 

   (i)      Performance Cycle.    The Performance Cycle
for this Award shall end on September 30, 2014. 

  

					
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	  	 	1	  

    (ii)      Performance
Goals.    The Performance Goals for this Award are (A) specified levels of the Company’s Earnings Per Share (EPS) over the course of the Performance Cycle and (B) the total shareholder return of the Company
ranked against the total shareholder return of companies that are included in the Standard & Poor’s 500 Index (“S&P 500 Index”) as of the end of the applicable period used for purposes of calculating this goal, as
described below (“TSR Rank”). For this purpose, “Earnings Per Share” or “EPS” means the Company’s fiscal year 2012 and 2013 and 2014 diluted earnings per share reported in its annual report on Form
10-K for the applicable years. The Committee, in its discretion, may determine to adjust the results by excluding some or all of the effects of certain unusual items. “TSR Rank” means the aggregate total shareholder return on Shares over
the approximately three year period beginning October 26, 2011 and ending on the day the Company’s earnings are announced following the close of the Company’s 2014 fiscal year, ranked against the total shareholder return over the same
three year period for each of the companies that comprise the S&P 500 Index. Total shareholder return will be calculated using a beginning price equal to the trading volume weighted average price over the period from October 6, 2011 to
November 16, 2011, and an ending price equal to the trading volume weighted average price over the period beginning 14 trading days before and ending 15 trading days after the date of the release of the Company’s fiscal year 2014 earnings,
and accounting for reinvestment of dividends over this period; provided, however, that if the date of the release of the Company’s fiscal year 2014 earnings is fewer than 15 trading days prior to November 21, 2014, then the ending price
will be equal to the average price over the 30-trading day period ending on November 21, 2014. For purposes of this provision, TSR will be calculated using the trading volume weighted average share price for Visa Inc. and the simple average of
the closing prices for the S&P 500. 
    (iii)      Percentage of
Performance Shares Earned.    Following the end of the Performance Cycle, the Committee will determine the extent to which Performance Shares have become earned during the Performance Cycle according to the product of the
results of the following two schedules and accompanying descriptions: 
  

					
	 Performance Level
	  	 Earnings Per Share
	  	 Base Percentage of
Performance
Shares
Earned

		  	Less than [        ]	  	0%
	 Threshold
	  	[        ]	  	50%
	 Target
	  	[        ]	  	100%
	 Maximum
	  	[        ] or more	  	200%

 The foregoing schedule sets forth the specific EPS goals for the Company’s fiscal year 2012. The Committee
shall determine the applicable Threshold, Target and Maximum EPS goals for the remaining two years of the Performance Cycle (fiscal years 2013 and 2014) based on the Company’s annual operating plan for the applicable year. If the Earnings Per
Share for an applicable year of the Performance Cycle falls between Threshold and Target, or between Target and Maximum, then the percentage of Performance Shares earned shall be the sum of the Base Percentage of Performance Shares Earned in the
schedule above for the lower such Performance Level plus the product of (i) the difference between the Base Percentage of Performance Shares Earned in the schedule above for the greater and lower such Performance Levels and (ii) a
fraction, the numerator of which is the amount by which the Earnings Per Share 

  

					
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achieved exceeds the Earnings Per Share in the schedule above for the lower such Performance Level and the denominator of which is the difference between Earnings Per Share amounts in the
schedule above for the greater and lower of such Performance Levels. The Percentage of Performance Shares Earned with respect to Earnings Per Share for the Performance Cycle shall be determined based on the average Base Percentage of Performance
Shares Earned over the three years of the Performance Cycle and shall never exceed 200%. 
  

					
	 Performance Level
	  	 TSR Rank
	  	 Adjustment
Multiplier

	 Threshold
	  	0 - 25%	  	75%
	 Target
	  	50%	  	100%
	 Maximum
	  	75% and above	  	125%

 If the Performance Level for TSR Rank falls between Threshold and Target, or between Target and Maximum, then the
Adjustment Multiplier shall be the sum of the Adjustment Multiplier in the schedule above for the lower such Performance Level plus the product of (i) the difference between the Adjustment Multiplier in the schedule above for the greater and
lower such Performance Levels and (ii) a fraction, the numerator of which is the amount by which the TSR Rank achieved exceeds the TSR Rank in the schedule above for the lower such Performance Level and the denominator of which is the
difference between TSR Ranks in the schedule above for the greater and lower of such Performance Levels. The Adjustment Multiplier for the TSR Rank shall never exceed 125%. The product of the Base Percentage Performance Shares Earned and the
Adjustment Multiplier shall be limited to a maximum of 200% and is then multiplied by the grant amount to determine the number of Performance Shares earned. 
    (iv)      Notification.    As soon as practicable following the end of the Performance Cycle, the Participant shall be notified in writing
of the number of Performance Shares earned. 

(b)      Vesting.    Subject to Sections 4 and 5 of this Agreement, all
of the Performance Shares that are earned pursuant to Section 3(a) shall become vested on November 30, 2014. 

(c)      Separate Payments.    For purposes of this Award and Agreement,
each amount to be paid hereunder shall be construed as a separate identified payment for purposes of Section 409A of the Code. 
 4.       Separation from Service. 

(a)      In General.    Except as otherwise provided in this
Section 4 or in Section 5 of this Agreement or in the Plan, all Performance Shares subject to this Award that have not become vested pursuant to Section 3(b) prior to the date of the Participant’s Separation from Service shall be
immediately forfeited upon such Separation from Service. 

  

					
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 (b)      This Section 4(b) applies only in the event that
(I) a Change of Control has not occurred prior to November 30, 2014, or (II) a Change of Control has occurred prior to November 30, 2014, but the Participant’s Separation from Service has not occurred within two years following
the Change of Control: 
    (i)      Separation from Service by Reason of Death,
Disability, Without Cause, Good Reason or Retirement Before the End of the Performance Cycle:    Upon a Participant’s Separation from Service before the end of the Performance Cycle (A) due to death or Disability
(as defined below), (B) either by the Company, a Subsidiary or an Affiliate without Cause (as defined below), (C) by the Participant for Good Reason (as defined below) or (D) by the Participant at or after the earlier of
(1) attainment of normal retirement eligibility under the generally applicable retirement plan of the Company, a Subsidiary or an Affiliate under which the Participant is covered in his or her home country; or (2) attainment of age sixty
and five years of completed service and six months of service from the date of grant (“Retirement”), then the Participant shall be fully vested, as of November 30, 2014, in all of the Performance Shares that would have been both
earned pursuant to Section 3(a)(iii), and vested pursuant to Section 3(b), had the Participant remained in employment through November 30, 2014. 
    (ii)      Separation from Service by Reason of Death, Disability, Without Cause, Good Reason or Retirement After the End of the Performance
Cycle:    Upon a Participant’s Separation from Service after the end of the Performance Cycle (A) due to death or Disability, (B) either by the Company, a Subsidiary or an Affiliate without Cause, (C) by
the Participant for Good Reason or (D) by the Participant by reason of Retirement, then the Participant shall be fully vested, as of the date of such Separation from Service, or if later, as of November 30, 2014, in all of his or her
Performance Shares that had been earned pursuant to Section 3(a)(iii) but had not yet vested under Section 3(b) as of the date of such Separation from Service. 
    (iii)      Separation from Service, Whether Before or After the End of the Performance Cycle, by the Company for Cause or by the Participant Other than by Reason
of Death, Disability, Good Reason or Retirement:     Upon a Participant’s Separation from Service, whether before or after the end of the Performance Cycle, (A) by the Company for Cause, or (B) by the
Participant other than by reason of death, Disability, Good Reason or Retirement, then any and all of the Performance Shares that have not vested as the date of such Separation from Service shall be forfeited. 

5.       Change of Control. 
 (a)      This Section 5(a) applies (I) only in the event that (A) a Change of Control has occurred prior to November 30, 2014, and (B) the Participant’s
Separation from Service has occurred within two years following the Change of Control, and (II) notwithstanding any provision in Sections 2, 3 or 4 of this Agreement to the contrary: 

   (i)      Separation from Service by Reason of Death, Disability, Without Cause, Good Reason or
Retirement Before the End of the Performance Cycle:    Upon a Participant’s Separation from Service before the end of the Performance Cycle (A) due to death or Disability, (B) either by the Company, a
Subsidiary or an Affiliate without Cause, (C) by the Participant for Good Reason or (D) by the Participant by reason of Retirement, then, as of the date of such Separation from Service, the Participant will become vested in that number of
Performance Shares subject to this Award that would have been earned under Section 3(a)(iii), 

  

					
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as of the end of the Performance Cycle, based on the deemed achievement of the Target Performance Level (within the meaning of Section 3(a)(iii)). 

   (ii)      Separation from Service by Reason of Death, Disability, without Cause, Good Reason or
Retirement After the End of the Performance Cycle:    Upon a Participant’s Separation from Service after the end of the Performance Cycle (A) due to death or Disability, (B) either by the Company, a Subsidiary
or an Affiliate without Cause, (C) by the Participant for Good Reason or (D) by the Participant by reason of Retirement, then the Participant shall be fully vested, as of such Separation from Service, or if later, as of November 30,
2014, in all of his or her Performance Shares that have been earned pursuant to Section 3(a)(iii) but have not yet vested under Section 3(b); provided, however, that if the Change of Control had occurred prior to the end of the Performance
Cycle, then the Participant shall become vested, as of such Separation from Service, or, if later, as of November 30, 2014, in the greater of (I) all of his or her Performance Shares that have been earned pursuant to Section 3(a)(iii)
but have not yet vested under Section 3(b) as of the date of such Separation from Service, and (II) that number of Performance Shares subject to this Award that would have been earned as of the end of the Performance Cycle under
Section 3(a)(iii), based on the deemed achievement of the Target Performance Level (within the meaning of Section 3(a)(iii)). 

   (iii)      Separation from Service, Whether Before or After the End of the Performance Cycle by
the Company for Cause or by the Participant Other than by Reason of Death, Disability, Good Reason or Retirement:    Upon a Participant’s Separation from Service, whether before or after the end of the Performance Cycle,
(A) by the Company for Cause, or (B) by the Participant other than by reason of death, Disability, Good Reason or Retirement, then any of the Performance Shares that have not vested as the date of such Separation from Service shall be
forfeited. 
 (b)      For purposes of this Agreement, no Change of Control shall be deemed to have
occurred unless it constitutes a “change in the ownership or effective control of the corporation, or in the ownership of a substantial portion of the assets of the corporation” within the meaning of Section 409A of the Code.

 (c)      For the avoidance of doubt, Section 14.1(b) of the Plan shall not apply to the Performance
Shares subject to this Agreement to the extent such provision conflicts with this Section 5, but the applicable provisions of Article XIV of the Plan shall otherwise apply to this Agreement. 

6.      Restrictions on Transfer.    Performance Shares may not be sold, assigned,
hypothecated, pledged or otherwise transferred or encumbered in any manner except (a) by will or the laws of descent and distribution or (b) as otherwise permitted pursuant to the Plan. 

7.      Dividend Equivalents.    Each Performance Share subject to this Award shall
entitle the Participant to Dividend Equivalents with respect to regular cash dividends that would otherwise be paid on one Share during the period from the date such Performance Share is earned in accordance with Section 3(a) to the date such
Performance Share is paid in accordance with Section 2 or forfeited in accordance with Section 4 or 5. Any such Dividend Equivalent shall be paid to the Participant at (or within thirty (30) days following) the time such related
dividends are paid to holders of Shares. 

  

					
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 8.      No Rights as a Shareholder Prior to Issuance
of Shares.    Neither the Participant nor any other person shall become the beneficial owner of any Shares that may become payable with respect to the Performance Shares subject to this Award, nor have any rights to dividends
or other rights as a shareholder with respect to any such Shares, until and after such Shares, if any, have been actually issued in satisfaction of the Company’s obligations under this Award, in the time and manner specified in Section 2,
and such Shares are transferred on the books and records of the Company or its agent in accordance with the terms of the Plan and this Agreement. 
 9.      Taxes and Withholding.    The Company shall have the right to deduct from all amounts otherwise payable to the Participant in cash in respect of
Performance Shares covered by this Award any amount of taxes of any kind required by law to be withheld as may be necessary in the opinion of the Company to satisfy tax withholding required under the laws of any country, state, province, city or
other jurisdiction. In the case of any payments in the form of Shares of Performance Shares covered by this Award, at the Committee’s discretion, the Participant shall be required to either pay to the Company in cash the amount of any such
taxes required to be withheld with respect to such Shares or, in lieu thereof, the Company shall have the right to retain (or the Participant may be offered the opportunity to elect to tender) the number of Shares for which the Fair Market Value
equals such amount required to be withheld; provided, however, that the amount of any Shares so retained shall not exceed the amount necessary to satisfy required Federal, state, local and non-United States withholding obligations
using the minimum statutory withholding rates for Federal, state, local and/or non-U.S. tax purposes, including payroll taxes, that are applicable to supplemental taxable income. To the extent any such taxes are required by law to be withheld with
respect to the Performance Shares covered by this Award prior to the date such Performance Shares are paid in accordance with Section 2, the Participant shall be required to pay to the Company in cash the amount of such taxes promptly following
written notice thereof by the Company. 
 10.      No Right to Continued
Employment.    Neither the Performance Shares covered by this Award nor any terms contained in this Agreement shall confer upon the Participant any rights or claims except in accordance with the express provisions of the Plan
and this Agreement, and shall not give the Participant any express or implied right to be retained in the employment or service of the Company or any Subsidiary or Affiliate for any period or in any particular position or at any particular rate of
compensation, nor restrict in any way the right of the Company or any Subsidiary or Affiliate, which right is hereby expressly reserved, to modify or terminate the Participant’s employment or service at any time for any reason. The Participant
acknowledges and agrees that any right to vesting of this Award is earned only by continuing as an employee of the Company or a Subsidiary or Affiliate at the will of the Company or such Subsidiary or Affiliate, or satisfaction of any other
applicable terms and conditions contained in the Plan and this Agreement, and not through the act of being hired or being granted this Award. 
 11.      The Plan.    By accepting any benefit under this Agreement, the Participant and any person claiming under or through the Participant shall be
conclusively deemed to have indicated his or her acceptance and ratification of, and consent to, all of the terms and conditions of the Plan and this Agreement and any action taken under the Plan by the Board, the Committee or the Company, in any
case in accordance with the terms and conditions of the Plan. Subject to Section 5(c) of this Agreement, in the event of any conflict between the provisions of the Plan and this Agreement, the provisions of the Plan shall control, and this

  

					
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Agreement shall be deemed to be modified accordingly. This Agreement is subject to all the terms, provisions and conditions of the Plan, which are incorporated herein by reference, and to such
rules, policies and regulations as may from time to time be adopted by the Committee. The Plan and the prospectus describing the Plan can be found on the Company’s HR intranet. A paper copy of the Plan and the prospectus shall be provided to
the Participant upon the Participant’s written request to the Company at 900 Metro Center Blvd., Foster City, California 94404, Attention: Stock Plan Administrator. 

12.      Certain Defined Terms.    For purposes of this Agreement, the
following terms shall have the meanings set forth below: 

(a)      “Cause” shall have the meaning set forth in the Visa Inc. Executive
Severance Plan (the “Executive Severance Plan”); provided that, if at the Grant Date, the Participant is party to an effective employment agreement with the Company, a Subsidiary or an Affiliate, the definition of Cause set forth in
such agreement shall apply until the date on which such employment agreement expires. 

(b)      “Disability” shall have the meaning set forth for such term in the
Company’s or its Affiliate’s long-term disability plan under which the Participant is covered from time to time; provided, that, if at the Grant Date, the Participant is party to an effective employment agreement with the Company, a
Subsidiary or an Affiliate, the definition of “Disability” (or such other term of similar import as may be used, such as “Permanent Disability”) in such agreement shall apply until the date on which such employment agreement
expires. 
 (c)      “Good Reason” means: (i) a material reduction by
the Company, a Subsidiary or an Affiliate in the Participant’s rate of annual base salary from that in effect as of the Grant Date, or, if a Change of Control has occurred following the Grant Date, then immediately prior to the Change of
Control; (ii) a material reduction by the Company or a Subsidiary or an Affiliate in the Participant’s annual target bonus opportunity from that in effect as of the Grant Date or, if a Change of Control has occurred following the Grant
Date, then immediately prior to the Change of Control; or (iii) the Company, a Subsidiary or an Affiliate requires the Participant to change the Participant’s principal location of work to a location that is in excess of fifty
(50) miles from the location thereof as of the Grant Date, or, if a Change of Control has occurred following the Grant Date, then immediately prior to the Change of Control. Notwithstanding the foregoing, a Separation from Service of a
Participant for Good Reason shall not have occurred unless (i) the Participant gives written notice to the Company, a Subsidiary or an Affiliate, as applicable, of Separation from Service within thirty (30) days after the Participant first
becomes aware of the occurrence of the circumstances constituting Good Reason, specifying in reasonable detail the circumstances constituting Good Reason, and the Company, the Subsidiary or the Affiliate, as the case may be, has failed within thirty
(30) days after receipt of such notice to cure the circumstances constituting Good Reason. The foregoing to the contrary notwithstanding, if at any particular time the Participant is subject to an effective employment agreement with the
Company, a Subsidiary or an Affiliate, then, in lieu of the foregoing definition, “Good Reason” shall at that time have such meaning as may be specified in such employment agreement. 

(d)      “Separation from Service” shall have the meaning ascribed to it under
Section 409A of the Code and the Treasury Regulations promulgated thereunder. 

  

					
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 13.      Compliance with Laws and Regulations.

 (a)      The Performance Shares subject to this Award and the obligation of the Company
to deliver Shares or cash payments hereunder shall be subject in all respects to (i) all applicable Federal and state laws, rules and regulations; and (ii) any registration, qualification, approvals or other requirements imposed by any
government or regulatory agency or body which the Committee shall, in its discretion, determine to be necessary or applicable. Moreover, the Company shall not deliver any certificates for Shares to the Participant or any other person pursuant to
this Agreement if doing so would be contrary to applicable law. If at any time the Company determines, in its discretion, that the listing, registration or qualification of Shares upon any national securities exchange or under any state or federal
law, or the consent or approval of any governmental regulatory body, is necessary or desirable, the Company shall not be required to deliver any certificates for Shares to the Participant or any other person pursuant to this Agreement unless and
until such listing, registration, qualification, consent or approval has been effected or obtained, or otherwise provided for, free of any conditions not acceptable to the Company. 

(b)      It is intended that any Shares received pursuant to this Agreement shall have been
registered under the Securities Act. If the Participant is an “affiliate” of the Company, as that term is defined in Rule 144 under the Securities Act (“Rule 144”), the Participant may not sell the Shares received except
in compliance with Rule 144. Certificates representing Shares issued to an “affiliate” of the Company may bear a legend setting forth such restrictions on the disposition or transfer of the Shares as the Company deems appropriate to comply
with federal and state securities laws. 
 (c)      If at any time the Shares are not
registered under the Securities Act, and/or there is no current prospectus in effect under the Securities Act with respect to the Shares, the Participant shall execute, prior to the delivery of any Shares to the Participant by the Company pursuant
to this Agreement, an agreement (in such form as the Company may specify) in which the Participant represents and warrants that the Participant is purchasing or acquiring the Shares acquired under this Agreement for the Participant’s own
account, for investment only and not with a view to the resale or distribution thereof, and represents and agrees that any subsequent offer for sale or distribution of any kind of such Shares shall be made only pursuant to either (i) a
registration statement on an appropriate form under the Securities Act, which registration statement has become effective and is current with regard to the Shares being offered or sold; or (ii) a specific exemption from the registration
requirements of the Securities Act, but in claiming such exemption the Participant shall, prior to any offer for sale of such Shares, obtain a prior favorable written opinion, in form and substance satisfactory to the Company, from counsel for or
approved by the Company, as to the applicability of such exemption thereto. 

14.      Notices.    All notices by the Participant or the
Participant’s successors or permitted assigns shall be addressed to the Company at 900 Metro Center Blvd., Foster City, California 94404, Attention: Stock Plan Administrator, or such other address as the Company may from time to time specify.
All notices to the Participant shall be addressed to the Participant at the Participant’s address in the Company’s records. 
 15.      Other Plans.    The Participant acknowledges that any income derived from this Award shall not affect the Participant’s participation in, or
benefits under, any other benefit plan or other contract or arrangement maintained by the Company or any Subsidiary or Affiliate. 

  

					
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 16.      Acceptance or Rejection of this
Award.    If you do not want to accept this Award, please complete the on-line form (“Accept or Reject Your Grant”) as promptly as possible, but, in any case, within thirty (30) days after the Grant
Date, to reject this Award. You can access this on-line form through your account at eac.Schwab.com. If you do not reject this Award within thirty (30) days after the Grant Date, you will have accepted this Award and agreed to the terms and
conditions set forth in this Agreement and the terms and conditions of the Plan. 

17.      Clawback Policy.    Notwithstanding any other provision of this
Agreement to the contrary, any cash incentive compensation received by the Participant, Performance Shares granted and/or Shares issued hereunder, and/or any amount received with respect to any sale of any such Shares, shall be subject to potential
cancellation, recoupment, rescission, payback or other action in accordance with the terms of the Company’s Clawback Policy, as it may be amended from time to time (the “Policy”). The Participant agrees and consents to the
Company’s application. implementation and enforcement of (i) the Policy or any similar policy established by the Company that may apply to the Participant and (ii) any provision of applicable law relating to cancellation, rescission,
payback or recoupment of compensation, and expressly agrees that the Company may take such actions as are necessary to effectuate the Policy, any similar policy (as applicable to the Participant) or applicable law without further consent or action
being required by the Participant. To the extent that the terms of this Agreement and the Policy or any similar policy conflict, then the terms of such policy shall prevail. 

  

					
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