Document:

Executive Severance Plan

 Exhibit 10.7 
 LEVI STRAUSS & CO. 
 EXECUTIVE SEVERANCE PLAN 

(Effective November 29, 2010) 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	1.	  	Definitions	  	 	1	  
	2.	  	Eligibility for Severance Payments, Severance Benefits and Deferred Termination Early Retirement Benefits	  	 	2	  
	3.	  	Amount and Form of Severance Payments, Severance Benefits and Deferred Termination Early Retirement Benefits	  	 	4	  
	4.	  	Administration	  	 	8	  
	5.	  	Amendment or Termination	  	 	9	  
	6.	  	Claims Procedure	  	 	9	  
	7.	  	Non-Compete	  	 	10	  
	8.	  	Non-Solicitation of Employees and Consultants	  	 	11	  
	9.	  	Confidential Information	  	 	11	  
	10.	  	Cooperation/Non Disparagement	  	 	11	  
	11.	  	Source of Payments	  	 	11	  
	12.	  	Inalienability	  	 	12	  
	13.	  	Recovery of Payments Made by Mistake	  	 	12	  
	14.	  	No Enlargement of Employment Rights	  	 	12	  
	15.	  	Applicable Law	  	 	12	  
	16.	  	Severability	  	 	12	  
	17.	  	Execution	  	 	12	  

 LEVI STRAUSS & CO. 

EXECUTIVE SEVERANCE PLAN 
 (Effective May 1, 2004, and 
 Amended and Restated Effective
November 29, 2010) 
 Introduction. Levi Strauss & Co. (the “Company”) established the Levi
Strauss & Co. Executive Severance Plan (the “Plan”) effective May 1, 2004 for the benefit of certain eligible Executives of the Company. By this instrument, the Company hereby amends and restates the Plan effective
November 29, 2010. 
 The purpose of the Plan is to provide an eligible Executive with Severance Payments, Severance
Benefits and Deferred Termination Early Retirement Benefits in the event the Executive’s employment is involuntarily terminated under circumstances entitling the Executive to Severance Payments, Severance Benefits or Deferred Termination Early
Retirement Benefits, as determined in the sole discretion of the Company. The Plan is an unfunded welfare benefit plan for purposes of ERISA, a severance pay plan within the meaning of United States Department of Labor Regulation
Section 2510.3-2(b) and an involuntary separation pay plan within the meaning of Treasury Regulation Section 1.409A-1(b)(9). This Plan supersedes all prior policies and practices of the Company with respect to severance or separation pay
for Executives whose employment is involuntarily terminated on or after November 29, 2010. This Plan is the only severance program for such Executives. 
 1. Definitions. 
 1.1. “Company” means Levi
Strauss & Co. 
 1.2. “Comparable Position” means any job that has no negative impact on base salary.
To be a “Comparable Position,” the different job must be performed at the same or geographically proximate work site with the same or comparable work schedule, as determined in the sole discretion of the Company. 

1.3. “Compensation” means (i) the sum of the Executive’s (a) annual base salary rate in effect on his or
her Termination Date, plus (b) target bonus amount under the Annual Incentive Plan (“AIP”) for the fiscal year in which the termination is announced to the Executive (ii) divided by 52. Compensation is solely used for purposes of
determining an eligible Executive’s Enhanced Severance Pay under the Plan. 
 Compensation = annual base salary + AIP
target bonus for the fiscal year in which the termination is announced 
 52 

1.4. “Deferred Termination Early Retirement Benefits” means the benefits provided to an Executive pursuant to
Section 3.3 on account of his or her involuntary termination from the Company. 
 1.5. “Employee” means a
common-law employee of the Company on the Home Office Payroll, including an employee classified by the Company as a U.S. expatriate employee, who is not subject to the overtime provisions of the Fair Labor Standards Act, and who is a Home Office
Payroll employee, and who has not signed an agreement that he or she is not 

 
entitled to benefits from the Company. An Employee does not include any person who is designated by the Company as an independent contractor or a “leased employee,” within the meaning
of Section 414(n) of the Internal Revenue Code of 1986, as amended (the “Code”), or any individual who has entered into an independent contractor or consultant agreement with the Company. Individuals not treated as Employees by the
Company on its payroll records are excluded from Plan participation even if a court or administrative agency determines that such individuals are Employees. 
 1.6. “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 
 1.7. “Executive” means (i) a WLT Member, or (ii) an Employee whose position is classified under the Executive Band or Leader Band in the Company’s World-Wide Compensation
Plan. 
 1.8. “General Release Agreement” means a legally binding document in which an Employee waives any and
all claims against the Company (as defined in the General Release Agreement) related to his or her employment or separation from employment. Whether or not an Executive chooses to sign the General Release Agreement is completely at his or her
discretion. 
 1.9. “Plan” means the Levi Strauss & Co. Executive Severance Plan, as set forth in this
instrument and as hereafter amended. 
 1.10. “Severance Benefits” means the severance benefits provided to an
Executive pursuant to Section 3.2 on account of his or her involuntary termination from the Company. 
 1.11.
“Severance Payment(s)” or “Severance Pay” means the payments to an eligible Executive pursuant to Section 3.1 on account of his or her involuntary termination from the Company. 

1.12. “Termination Date” means the Executive’s final day of employment with the Company which date shall be
communicated by the Company to the Executive. 
 1.13. “WLT Member” means each Employee identified on Appendix
A. 
 1.14. “Year of Service” means a 12-month period of employment beginning on the later of the
Executive’s hire or rehire date. Years of Service are calculated in full 12-month periods with no credit for partial years. 
 2.
Eligibility for Severance Payments, Severance Benefits and Deferred Termination Early Retirement Benefits. 
 2.1.
General Eligibility. Except as otherwise provided in the Plan, an Executive is entitled to Severance Payments, Severance Benefits or Deferred Termination Early Retirement Benefits under the Plan only if his or her employment with the Company
is involuntarily terminated by action of the Company on account of a reduction in force, layoff or position elimination. 

  
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 2.2. Exclusions. An Executive is not eligible for Severance Payments, Severance
Benefits or Deferred Termination Early Retirement Benefits if he or she: 
 (a) Voluntarily resigns before his or
her Termination Date; 
 (b) Is terminated because of failure to return from an approved leave of absence;

 (c) Resigns or is involuntarily terminated because the Company has determined that he or she violated any
policy, procedure or rule of the Company, engaged in dishonest or wrongful conduct, committed any crime or performed his or her duties in an unacceptable manner; 

(d) Resigns or is terminated after declining to accept an offer of a Comparable Position with the Company; 

(e) Ceases to be an Executive as defined by the Plan; 

(f) Terminates employment with the Company by reason of death; 

(g) Receives consulting fees from the Company following his or her Termination Date; 

(h) Is entitled to long-term disability benefits from the Company-sponsored long-term disability plan as of the date the
involuntary termination would have occurred had the individual been actively at work on such date; 
 (i) Has an
individual written agreement with the Company that provides for any form of severance, separation or special retirement program; or 
 (j) Has notified the Company of his or her intent to retire from the Company prior to the date the Company notified the Executive of his or her involuntary termination. 

2.3. Certain Corporate Transactions. Unless, and only to the extent expressly authorized by the Company or as set forth in this
Plan, no Severance Payments, Severance Benefits or Deferred Termination Early Retirement Benefits will be payable under the Plan to an Executive in the event of the sale or other disposition of the Company, any affiliate or any assets or stock of
either, if the Executive (i) continues to be employed by the Company, its successor or an affiliate on or after the date of such sale or other disposition, (ii) is offered a Comparable Position with the acquiring entity or any of its
affiliates, or (iii) is offered a Comparable Position with an entity that was an affiliate of the Company immediately prior to the sale or other disposition. 

  
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 3. Amount and Form of Severance Payments, Severance Benefits and Deferred Termination Early Retirement
Benefits. 
 3.1. Payment Amount. An eligible Executive is entitled to receive the following Severance Payments:

 (a) Base Severance Pay: Subject to Section 3.4, and except as otherwise provided in this Plan, an
eligible Executive will receive two weeks of his or her base salary beginning on the date he or she is notified that his or her employment is terminated. If the Company requests, the eligible Executive will remain in his or her position
during this two-week period. 
 (b) Enhanced Severance Pay: In exchange for providing the Company with an
enforceable General Release Agreement, in a form acceptable to the Company, an eligible Executive who is involuntarily terminated from the Company will be eligible to receive Enhanced Severance Pay and Severance Benefits, subject to
Section 3.4. The consideration for the voluntary General Release Agreement will be the Enhanced Severance Pay and Severance Benefits the eligible Executive would not otherwise be eligible to receive. An eligible Executive will receive Enhanced
Severance Pay in accordance with the following table: 
  

			
	WLT Member	  	78 weeks of Compensation
		
	Executive and Leader Band	  	26 weeks of Compensation, plus two additional weeks of Compensation for each Year of Service in excess of five, limited to a maximum period of 52 weeks of
Compensation

 3.2. Severance Benefits. 

(a) Medical Benefits Subsidy. 
  

	 	(1)	“COBRA” Continuation Coverage: An Executive who is enrolled in a Company-sponsored medical benefits plan on his or her Termination Date is eligible to
continue his or her medical, dental and/or vision coverage for up to 18 months under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”). Generally, the Executive is required to pay the full cost of this coverage, plus a two
percent (2%) administrative fee. If an Executive does not timely elect to exercise his or her COBRA continuation rights to continue his or her Company-sponsored medical, dental and/or vision benefits, the Executive may not reinstate such
coverage at a later date. COBRA coverage will not extend beyond the date on which a terminated Executive becomes eligible for coverage under another group health plan unless the new plan has a pre-existing condition limitation or the Executive is
entitled to Medicare. All of the terms and conditions of the corresponding medical, dental and/or vision plans sponsored by the Company will apply to an Executive receiving COBRA continuation coverage. 

  
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	 	(2)	Company Subsidy for COBRA (Medical Coverage Only): If an Executive and/or his or her covered dependents timely elect(s) to receive medical continuation coverage
through COBRA, the Company will subsidize the cost (at the active employee contribution rate) of the medical coverage under COBRA for the duration of the Executive’s severance payment period under Section 3.1(b) above, up to a maximum
coverage period of 18 months. Thereafter, the Executive will be required to pay the full applicable COBRA premium for medical coverage. During the Company-subsidized COBRA coverage period, the Executive must pay for the remainder of the cost of his
or her COBRA medical coverage. 

 All periods of Company-subsidized coverage are counted toward
the 18-month COBRA entitlement. 
  

	 	(3)	Dental and/or Vision Continuation: The Company will not subsidize Company-sponsored dental and vision benefits continuation coverage. An Executive may
elect to continue dental and/or vision coverage under COBRA as described in paragraph (a)(1) above. 

 (b) Life Insurance Continuation. The Company will pay the cost of premiums under its standard basic life insurance program of $10,000 for the same duration that it subsidizes the COBRA coverage
under paragraph (a)(2) above. 
 (c) Retiree Medical Benefits. If an Executive retires and becomes covered
by the Company’s retiree health benefits program, the Company will pay the full cost for the retiree medical coverage for the same duration that it subsidizes the COBRA coverage under paragraph (a)(2) above. For purposes of paragraph
(a) above and this paragraph (c), the continued medical payments are designated as separate payments for purposes of the exemption for medical expense reimbursements under Treasury Regulation Section 1.409A-1(b)(9)(v)(B). 

(d) Outplacement Benefits. Eligible Executives may be entitled to receive reasonable outplacement counseling and
job search benefits. In no event will the Company provide such outplacement benefits to an eligible Executive later than December 31 of the second year following his or her Termination Date. An Executive may not receive cash in lieu of the
available outplacement services. 

  
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 3.3. Deferred Termination Early Retirement Benefits. 

(a) Any Executive who is within 18 months of meeting the minimum requirements to be early retirement eligible under the
Company’s pension and retiree medical plans (15 years of service/age 55) will be eligible for a deferred Termination Date. To qualify for the deferred Termination Date, the Executive must: 

 

	 	(1)	Become early retirement eligible within 18 months following the date he or she is notified of his or her termination of employment; and 

 

	 	(2)	Submit a General Release Agreement, as described below, within the prescribed time period. 

(b) Except as provided below, the Termination Date for any such Executive will be deferred to the first date he or she
meets the minimum age and service requirements for early retirement. This way, the Executive may take early retirement on his or her Termination Date. Until the deferred Termination Date, the Executive will remain on the Company’s payroll as an
employee with special leave status. During this period, the Executive will continue to be eligible for Company benefits and earn service towards eligibility for early retirement benefits; provided, however, that the Executive may participate in the
Employee Savings and Investment Plan of Levi Strauss & Co. (the “ESIP”) during the special leave period. Benefit plan and service credit eligibility will cease when the Executive satisfies the minimum early retirement
requirements. The terms of the early retirement benefits are governed exclusively by the governing plan documents for those benefits. The Company reserves the right to amend or terminate the retiree medical plan, as described in the governing plan
document. 
 (c) In lieu of the Executive’s regular salary, the Executive will instead receive the total
value of his or her Severance Payments, as calculated above under Section 3.1, paid through the bi-weekly payroll process. In most cases, the total amount of the Severance Payments will be distributed evenly over the course of the entire leave
period ending on the Termination Date. However, if the number of weeks of Severance Pay earned by the Executive is greater than the number of weeks needed to attain early retirement eligibility, the payments will be issued according to the normal
payroll schedule until the end of the Severance Pay period. In this situation, an Executive’s Termination Date (i.e., the date he or she becomes early retirement eligible) will occur before all Severance Payments have been issued. The
Severance Payments will continue beyond the Termination Date until all payments are issued to the Executive. Note, however, that the Termination Date will mark the end of active employment so other employee benefits, such as ESIP pre-tax
contributions, will cease at that time. However, these Severance Payments will begin only after both (i) the Executive has signed the General Release Agreement, and (ii) the revocation period has expired. If the Executive fails to sign the
General Release Agreement within the prescribed time period, or revokes the Agreement after signing, he or she will receive only the Base Severance Pay described under Section 3.1(a). 

  
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 (d) An Executive who qualifies for deferred termination under this
Section 3.3 may choose an immediate Termination Date instead by notifying the Company within 10 business days of the date he or she is notified of his or her termination of employment. By choosing an immediate Termination Date, the Eligible
Employee will be entitled to the Severance Payments and Severance Benefits described under Sections 3.1 and 3.2 of the Plan, subject to all applicable terms and conditions. 
 3.4. Conditions and Limitations on Severance Payments, Severance Benefits and Deferred Termination Early Retirement Benefits. Enhanced Severance Pay, Severance Benefits and Deferred Termination
Early Retirement Benefits are specifically conditioned upon the Executive signing and not later revoking a General Release Agreement at a time and in a manner to be determined by the Company. Under no circumstances will any Enhanced Severance Pay,
Severance Benefits or Deferred Termination Early Retirement Benefits be made to an Executive who elects not to sign, or who revokes, a General Release Agreement. 
 3.5. Form and Timing of Severance Payments, Severance Benefits and Deferred Termination Early Retirement Benefits. 

(a) Except as provided under Section 3.3 for Deferred Termination Early Retirement Benefits, Severance Payments will
be paid in installments in accordance with the Company’s regular payroll payment schedule following the eligible Executive’s Termination Date, however any Enhanced Severance Pay and Severance Benefits which become available will be
provided only after the seven-day revocation period for a signed General Release Agreement has passed. 
 (b) If
the Company reemploys an eligible Executive who is receiving Enhanced Severance Pay, Severance Benefits or Deferred Termination Early Retirement Benefits under the Plan, the individual will become ineligible and such pay and benefits will cease
effective as of the reemployment date. 
 (c) If an Executive dies before Severance Payments are completed, any
remaining Severance Payments, including the value of any Severance Payments under Section 3.3(c), will be made to the Executive’s estate in a lump-sum within 60 days after the Company is provided with proof of the Executive’s death.

 3.6. Plant Shut-Down or Mass Layoff. If the Executive is laid off or discharged because of a plant shut-down or mass
layoff to which the federal, or any state, Worker Adjustment and Retraining Notice Act (“WARN”) applies, Severance Payments, Severance Benefits and Deferred Termination Early Retirement Benefits will not be available, except as provided in
this Section 3.6. The Company will provide notice of termination of employment, or pay in lieu of notice, or a combination of notice and pay in lieu of notice in accordance with the provisions of WARN. The amount of Severance Payments to which
the Executive is entitled under the Plan will be determined by subtracting the number of days’ pay in lieu of notice he or she receives pursuant to WARN from the amount of Severance Payments to which he or she would be otherwise entitled under
the Plan. Likewise, the period of Company-subsidized medical coverage under Section 3.2 is reduced by the time during which the eligible Executive receives medical coverage during the WARN Notice Period. 

  
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 3.7. General Release Agreement. The General Release Agreement will be furnished to an
eligible Executive along with a written explanation regarding the General Release Agreement. It is completely within the eligible Executive’s own discretion as to whether he or she elects to sign the applicable General Release Agreement. An
eligible Executive is encouraged to review the applicable General Release Agreement with his or her personal attorney at his or her own expense, if he or she so desires. 
 In order to receive Enhanced Severance Pay, Severance Benefits or Deferred Termination Early Retirement Benefits, an eligible Executive must sign, date and return the General Release Agreement to the
Company within 21 days (for an individual termination) or 45 days (for a group termination) after the date he or she receives the General Release Agreement. If an eligible Executive elects to sign the General Release Agreement, he or she then has
seven days from the date of such signing to revoke the signed General Release Agreement. Any such revocation must be in writing and must be received by the Company or its designee within the seven-day revocation period. If an eligible Executive
elects to revoke his or her signed General Release Agreement, such Executive will not receive any Enhanced Severance Pay, Severance Benefits or Deferred Termination Early Retirement Benefits. 

In the event of a group termination, as determined in the sole discretion of the Company, the Company will furnish affected Executives
with such additional information as may be required by law. 
 3.8. Withholding. The Company will withhold from all
Severance Payments, Severance Benefits and Deferred Termination Early Retirement Benefits all required federal, state, local and other taxes and any other payroll deductions required. 

3.9. Code Section 409A Compliance. For purposes of Code Section 409A, each “payment” (as defined by Code
Section 409A) made under the Plan will be considered a “separate payment.” Each such payment will be deemed exempt from Code Section 409A to the full extent permissible under the “short-term deferral exemption” under
Treasury Regulation Section 1.409A-1(b)(4) and, with respect to amounts paid no later than the second taxable year following the taxable year containing the Executive’s Termination Date, the “two years/two times” separation pay
exemption under Treasury Regulation Section 1.409A-1(b)(9)(iii), which are hereby incorporated by reference. 
 4. Administration.

 The Company is the “Plan Administrator” of the Plan and the “named fiduciary” within the meaning of such
terms as defined in ERISA. The Company has the discretionary authority to determine eligibility for Plan benefits and to construe the terms of the Plan, including the making of factual determinations. Severance Pay, Severance Benefits and Deferred
Termination Early Retirement Benefits under the Plan will be payable only if the Company determines in its sole discretion that the Executive is entitled to them. The decisions of the Company will be final and conclusive with respect to all
questions concerning the administration of the Plan. The Company may delegate to other persons responsibilities for performing certain of is duties under the Plan and may seek such expert advice as it deems reasonably necessary with respect to the
Plan. The Company may rely upon the information and advice furnished by such delegatees and experts, unless actually knowing such information and advice to be inaccurate or unlawful. 

  
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 5. Amendment or Termination. 
 Executives do not have any vested rights to Severance Payments, Severance Benefits or Deferred Termination Early Retirement Benefits. The Company reserves the right, in its sole and unlimited discretion,
to amend or terminate the Plan at any time by action of the Company’s Chief Executive Officer, or his or her designee, without prior notice to any Executive. 
 6. Claims Procedure. 
 (a) Any person who believes he or she
is entitled to any payment under the Plan (“Applicant”) may submit a claim in writing to the Company. Any such claim should be sent to the Health & Welfare Plans Administrative Committee (the “Committee”), c/o Levi
Strauss & Co., P.O. Box 7215, San Francisco, CA 94120, Attention: Vice President, Compensation, Benefits & HR Services. If a claim is denied in whole or in part, the Committee will furnish the Applicant within 90 days after
receipt of such claim with a written notice, written in a manner calculated to be understood by the Applicant, which includes (i) the specific reason(s) for the denial, (ii) specific references to the Plan provisions on which the denial is
based, (iii) a description of any additional material or information necessary for properly completing the claim and an explanation why such material or information is necessary, (iv) a statement that the Applicant is entitled to receive,
upon request and free of charge, reasonable access to, and copies of, all documents, records or other information relevant to his or her claim, and (v) an explanation of the Plan’s appeal procedures. The 90-day period for responding to a
claim may be extended by up to an additional 90 days if the Applicant is given a written notice of the extension, including an explanation of the reason for the extension and an estimate of when the claim will be resolved, by the end of the initial
90-day period. 
 (b) An Applicant may appeal the denial of his or her claim and have the Committee reconsider
the decision. The Applicant or the Applicant’s authorized representative has the right to: (i) request an appeal by written notice to the Committee at the address identified above no later than 60 days after the receipt of the notice from
the Committee denying the Applicant’s claim, (ii) upon request and free of charge, review or receive copies of any documents, records or other information relevant to the Applicant’s claim, and (iii) submit written comments,
documents, records and other information relating to the Applicant’s claim in writing to the Committee. In deciding the Applicant’s appeal, the Committee will take into account all comments, documents, records and other information
submitted by the Applicant relating to the claim, regardless of whether such information was submitted or considered in the initial review of the claim. If the Applicant does not provide all the necessary information for the Committee to process the
appeal, the Committee may request additional information and set deadlines for the Applicant to provide that information. 

  
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 (c) The Committee’s decision on review will be in writing, written in a
manner calculated to be understood by the Applicant, and will include (i) specific reason(s) for the decision, (ii) specific references to the Plan provisions on which the decision is based, (iii) a statement that the Applicant is
entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records or other information relevant to his or her claim, and (iv) a statement of the Applicant’s right to bring a civil action
under ERISA Section 502(a) following a denial of his or her appeal for benefits. The notice will be delivered to the Applicant within 60 days after the request for review is received, unless extraordinary circumstances require a longer period,
in which event the 60-day period may be extended by up to an additional 60 days if the Applicant is given a written notice of the extension, including an explanation of the reason for the extension and an estimate of when the appeal will be
resolved, by the end of the initial 60-day period. 
 (d) The provisions of this Section 6 are intended to
comply with ERISA Section 503 and the Regulations issued thereunder, and will be so construed. In accordance with such Regulations, each Applicant will be entitled, upon written request and without charge, to review and receive copies of all
material relevant to his or her claim within the meaning of Department of Labor Regulation Section 2560.503-1(m)(8), and to be represented by a qualified representative. 

(e) In further consideration of being permitted to participate in the Plan, each eligible Executive agrees on behalf of
himself or herself, and all other persons claiming through him or her, that he or she will not commence any action at law or equity (including without limitation any action under ERISA Section 502), or any proceeding before any administrative
agency, for payment of any benefit under this Plan without first filing a written claim for such benefit and appealing the denial of that claim in accordance with the provisions of this Section 6, and in any event not more than 180 days after
the appeal is denied in accordance with paragraph (c) above. 
 7. Non-Compete. 

While employed by the Company and for the longer of (i) the period the Executive receives Enhanced Severance Pay, (ii) the
period the Executive receives Deferred Termination Early Retirement Benefits, or (iii) the 12-month period immediately following the Executive’s Termination Date, the Executive will not, directly or indirectly for the Executive’s own
account or account of others, own, manage, operate, control or participate in the ownership, management, operation or control of, or be connected as a principal, employee, officer, director, independent contractor, representative, stockholder,
financial backer, partner, advisor, manager, consultant or in any other individual or representative capacity with, any business which engages in any business within any market area served by the Company or any of its affiliates, including VF
Corporation, Haggar, Tropical Sportswear International Corporation, CK jeans, Guess, The Limited, Savane International Corporation, Nautica Enterprises, Liz Claiborne, Polo Jeans Company, The Gap and any jeanswear or khakiwear business in any
apparel company in the United States (a “Competing Business”). Ownership for personal investment purposes of less than 5% of the voting stock of any publicly held Competing Business will not constitute a violation hereof. Subject to any
period limitation imposed by a particular jurisdiction, the Company will enforce this provision in jurisdictions where such a restraint is legally permissible. 

  
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 8. Non-Solicitation of Employees and Consultants. 

While employed by the Company and for the 12-month period immediately following the Executive’s Termination Date, the Executive will
not directly or indirectly: (i) solicit or induce any employee or consultant of the Company to leave employment with the Company, or (ii) offer employment to any employee employed by the Company or consultant working with the Company as of
the Executive’s Termination Date. Subject to any period limitation imposed by a particular jurisdiction, the Company will enforce this provision in jurisdictions where such a restraint is legally permissible. 

9. Confidential Information. 
 An eligible Executive may have access to trade secrets, information regarding the Company’s operations, product lines, costs, operational processes, strategic planning, financial data, marketing
plans, sales forecasts, customers, suppliers, personnel and other confidential and proprietary information (hereinafter “Confidential Information”) with regard to the Company’s business. Recognizing that the disclosure or improper use
of such Confidential Information will cause serious and irreparable injury to the Company, an eligible Executive with such access acknowledges that (i) he or she will not at any time, directly or indirectly, disclose Confidential Information to
any third party or otherwise use such Confidential Information for his or her own benefit or the benefit of others, (ii) the payment of Enhanced Severance Pay, Severance Benefits and Deferred Termination Early Retirement Benefits under the Plan
will cease if the Executive discloses or improperly uses such Confidential Information, and (iii) the retention of Enhanced Severance Pay, Severance Benefits and Deferred Termination Early Retirement Benefits already received under the Plan is
conditioned upon the Executive not disclosing or improperly using such Confidential Information. 
 10. Cooperation/Non Disparagement.

 Each eligible Executive will cooperate with the Company and its legal counsel in connection with any current or future
investigation or litigation relating to any matter to which the eligible Executive was involved or of which the Executive has knowledge or which occurred during the Executive’s employment. Such assistance will include, but is not limited to,
depositions and testimony and will continue until such matters are resolved. In addition, an Executive shall not in any way disparage the Company nor any person associated with the Company to any person, corporation or other entity. 

11. Source of Payments. 

All Severance Payments, Severance Benefits and Deferred Termination Early Retirement Benefits will be paid in cash from the general funds
of the Company; no separate fund will be established under the Plan and the Plan will have no assets. Any right of any person to receive any payment under the Plan will be no greater than the right of any other unsecured creditor of the Company.

  
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 12. Inalienability. 
 In no event may any Executive sell, transfer, anticipate, assign or otherwise dispose of any right or interest under the Plan. At no time will any such right or interest be subject to the claims of
creditors nor liable to attachment, execution or other legal process. 
 13. Recovery of Payments Made by Mistake. 

An eligible Executive must return to the Company any Severance Payment, Severance Benefit or Deferred Termination Early Retirement
Benefit, or portion thereof, made by a mistake of fact or law. The Company has all remedies available at law for the recovery of such amounts. 

14. No Enlargement of Employment Rights. 
 Neither the establishment or maintenance of the Plan, the payment of any amount by the Company nor any action of the Company will confer upon any individual any right to be continued as an Employee nor
any right or interest in the Plan other than as provided in the Plan. Other than an Employee who has a written agreement to the contrary signed by the President, Chief Executive Officer or a Senior Vice President of the Company, every Employee is an
employee-at-will whose employment with the Company may be terminated by the Company or the Employee at any time with or without cause and with no notice. 
 15. Applicable Law. 
 The provisions of the Plan will be construed,
administered and enforced in accordance with ERISA and, to the extent applicable, the laws of the State in which the Executive resides on his or her Termination Date. 
 16. Severability. 
 If any provision of the Plan is held invalid or
unenforceable, its invalidity or unenforceability will not affect any other provision of the Plan, and the Plan will be construed and enforced as if such provision had not been included. 
 17. Execution. 
 IN WITNESS WHEREOF, Levi Strauss & Co., by
its duly authorized officer, has executed the Plan on the date indicated below. 
  

	
	LEVI STRAUSS & CO.
	
	/s/ Cathy Unruh
	Cathy Unruh
	Senior Vice President
	Global Human Resources
	
	Dated: 10/3/2011

  
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 APPENDIX A 
 For purposes of this Plan, the following positions are designated as Worldwide Leadership Team members (WLT), assuming the Employee in the position is also a U.S. Home Office Payroll Employee at the time
of termination: 
 President & Chief Executive Officer 

Executive Vice President & President, Global Levi’s® 
 Executive Vice
President & President, Global Dockers® 

Executive Vice President & President, Global DenizenTM 

Executive Vice President & Chief Financial Officer 
 Senior Vice President & Chief Supply Chain Officer 
 Senior Vice
President & General Counsel 
 Senior Vice President, Worldwide Human Resources 

Senior Vice President & Chief Strategy Officer 
 Senior Vice President & Chief Information Officer 
 Senior Vice President,
Corporate Affairs 
 This list is subject to change and may be revised at any time.Annual Incentive Plan

 Exhibit 10.8 
 2011 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. 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 Levi Strauss & Co. (the
“Company”) for the 2011 fiscal year beginning November 29, 2010 and ending November 27, 2011 (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 2011 fiscal year beginning November 29, 2010 and ending November 27, 2011. 

 

	 	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 2011 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 2011
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 2011 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 2011 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 70% and the Net Revenue Funding Percentage is weighed 30%. 

 

	 	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/ Cathy Unruh
		 	 Cathy Unruh

		 	 SVP, Worldwide HR

	
	Date: 6/28/11

  
 16

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