Document:

EX-10.18

 Exhibit 10.18 

RABBI TRUST AGREEMENT 
 by and
between 
 LEVI STRAUSS & CO. 

and 
 BOSTON SAFE DEPOSIT AND
TRUST COMPANY 
  

 TABLE OF CONTENTS 
  

					
	1. ESTABLISHMENT OF TRUST	  	 	1	 
		
	2. TRUST FUNDING REQUIREMENT	  	 	2	 
		
	3. PAYMENTS TO PLAN PARTICIPANTS AND THEIR BENEFICIARIES	  	 	3	 
		
	4. TRUSTEE RESPONSIBILITY REGARDING PAYMENTS TO TRUST BENEFICIARY WHEN COMPANY IS INSOLVENT	  	 	4	 
		
	5. PAYMENTS TO COMPANY	  	 	5	 
		
	6. INVESTMENT AND ADMINISTRATIVE AUTHORITY	  	 	5	 
		
	7. CONTRACTUAL SETTLEMENT AND INCOME; MARKET PRACTICE SETTLEMENTS	  	 	7	 
		
	8. DISPOSITION OF INCOME	  	 	8	 
		
	9. ACCOUNTING BY TRUSTEE	  	 	8	 
		
	10. RESPONSIBILITY OF TRUSTEE	  	 	8	 
		
	11. COMPENSATION AND EXPENSES OF TRUSTEE...	  	 	10	 
		
	12. CHANGE OF CONTROL	  	 	10	 
		
	13. RESIGNATION AND REMOVAL OF TRUSTEE	  	 	11	 
		
	14. APPOINTMENT OF SUCCESSOR	  	 	11	 
		
	15. AMENDMENT OR TERMINATION	  	 	12	 
		
	16. MISCELLANEOUS	  	 	12	 
		
	17. RELIANCE OF REPRESENTATIONS	  	 	13	 

  
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 RABBI TRUST AGREEMENT 

THIS RABBI TRUST AGREEMENT is effective this 1st day of January 1, 2003, by and between LEVI STRAUSS & CO. (“Company”)
and BOSTON SAFE DEPOSIT AND TRUST COMPANY (“Trustee”). 
 WHEREAS, the Company has adopted the nonqualified deferred compensation
Plan listed in Appendix A (the “Plan” or, if additional plans are added, collectively referred to as the “Plan”); 

WHEREAS, the Company has incurred or expects to incur liability under the terms of such Plan with respect to the individuals participating in
such Plan (individually a “Participant” and collectively the “Participants”); 
 WHEREAS, the Company wishes to
establish a trust (the “Trust”) and to contribute to the Trust the assets that shall be held therein, subject to the claims of the Company’s creditors in the event of the Company’s Insolvency, as defined in Section 4, until
paid to Participants and their beneficiaries in such manner and at such times as specified in the Plan and this Rabbi Trust Agreement; 

WHEREAS, it is the intention of the parties that this Trust shall constitute an unfunded arrangement and shall not affect the status of the
Plan as an unfunded plan maintained for the purpose of providing deferred compensation for a select group of management or highly compensated employees for purposes of Title I of the Employee Retirement Income Security Act of 1974, as amended,
(“ERISA”) and benefits under an excess benefit plan as that term is defined in Section 3(36) of ERISA to certain employees in excess of the limitations on contributions and benefits imposed by ss.415 of the Internal Revenue Code of
1986, as amended,; and; 
 WHEREAS, it is the intention of the Company to make contributions to the Trust to provide a source of funds to
meet its liabilities under the Plan. 
 NOW THEREFORE, the parties do hereby establish the Trust and agree that the Trust shall be
comprised, held and disposed of as follows: 
  

	Section 1.	 Establishment of Trust. 

 

	 	(a)	 The Company hereby establishes the Trust with the Trustee, consisting of such sums of money and other property
acceptable to the Trustee as from time to time shall be paid and delivered to and accepted by the Trustee from the Company (the “Trust Fund”). The Trustee shall have no duty to determine or collect contributions under the Plan and shall
have no responsibility for any property until it is received and accepted by the Trustee. The Company shall have the sole duty and responsibility for the determination of the accuracy or sufficiency of the contributions to be made under the Plan.

 All such money and other property paid or delivered to and accepted by the Trustee shall become the principal of the
Trust to be held, administered and disposed of by the Trustee as provided in this Rabbi Trust Agreement. 
  

	 	(b)	 The Trust hereby established shall be irrevocable; notwithstanding the fact that the Trust is irrevocable, the
Company may terminate the Plan (or any of them) at any time. 

  
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	 	(c)	 The Trust is intended to be a grantor trust, of which the Company is the grantor, within the meaning of subpart
E, part I, subchapter J, chapter 1, subtitle A of the Internal Revenue Code of 1986, as amended, and shall be construed accordingly. The Company represents and warrants to the Trustee that: (i) the Plan for which benefits are or may become
payable under this Trust is not subject to Part 4 of Title I of ERISA; and (ii) the Plan covers, and will cover, only (x) a select group of management or highly compensated employees as contemplated by Section 401(a) of ERISA and
interpretations, opinions, and rulings of the Department of Labor thereunder or (y) participants in an excess benefit plan as defined in Section 3(36) of ERISA. 

 

	 	(d)	 The principal of the Trust, and any earnings thereon shall be held separate and apart from other funds of the
Company and shall be used exclusively for the purposes of paying Participants under the Plan, expenses of the Trust and, in the event of Insolvency, obligations of the Company to its general creditors as herein set forth. The Participants and their
beneficiaries shall have no preferred claim on, nor any beneficial ownership interest in, any assets of the Trust. Any rights created under the Plan and this Rabbi Trust Agreement shall be unsecured contractual rights of the Participants and their
beneficiaries against the Company. Any assets held by the Trust will be subject to the claims of the Company’s general creditors under federal and state law in the event of Insolvency, as defined in Section 4(a) herein.

  

	 	(e)	 In addition to the contributions necessary to meet the Trust Funding Requirement (as defined in
Section 2), the Company, in its sole discretion, may at any time, or from time to time, make additional deposits of cash or other property in trust with the Trustee to augment the principal to be held, administered and disposed of by the
Trustee as provided in this Rabbi Trust Agreement. Neither the Trustee nor any Participant or beneficiary shall have any right to compel such additional deposits. 

 

	Section 2.	 Trust Funding Requirement. 

From time to time but in no event less than annually, the Company shall determine the amount that would be needed to pay Participants and their
beneficiaries the benefit which they have accrued pursuant to the terms of the Plan (as certified to the Trustee by the Company) as of the date of the valuation. For purposes of this valuation, the Company shall disregard the total amount credited
to the LS&CO. Performance Tracking Vehicle Fund (as defined in the Plan) as of such valuation date. The remaining amount is referred to herein as the “Trust Funding Requirement.” In the event that the fair market value of the Trust
assets as of any valuation date before a Change of Control is less than 90% of the Trust Funding Requirement on such date, the Company shall make an additional contribution to the Trust in an amount sufficient to bring the fair market value of the
assets in the Trust up to 90% of the Trust Funding Requirement as of the valuation date. Further, the Company shall establish the Trust Funding Requirement as of the date of any Change of Control. If the fair market value of the Trust Fund as of the
valuation date is less than the Trust Funding Requirement on such date, the Company shall make an additional contribution so the value of trust assets equals the Trust Funding Requirement as of the valuation date. After a Change of Control, the
Company shall establish the Trust Funding Requirement on a semi-annual basis and make additional contributions as necessary to bring the value of the Trust Fund up to the Trust Funding Requirement as of the valuation date. Contributions under this
Section 2, if any, shall be made as soon as reasonably practicable after the Trust Funding Requirement is established for a valuation date. 

  
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 When computing the Trust Funding Requirement, the Company may exclude the benefits
attributable to any participant if contributions to the Trust Fund on behalf of the participant could cause the participant to incur income tax liability on account of the contribution. 

 

	Section 3.	 Payments to Plan Participants and Their Beneficiaries. 

 

	 	(a)	 The Company shall deliver to the Trustee a schedule (the “Payment Schedule”) that indicates the
amounts payable in respect of each Participant (and his or her beneficiaries), and that provides a formula or other instructions acceptable to the Trustee for determining the amounts so payable, the form in which such amount is to be paid (as
provided for or available under the Plan), and the time of commencement for payment of such amounts. The Company shall be responsible for notifying the Trustee of any change in the information on the Payment Schedule. Except as otherwise provided
herein, the Trustee shall make payments to the Participants and their beneficiaries in accordance with such Payment Schedule. 

It is the intent of the Company and the Trustee that the Company shall be responsible for determining and effecting all federal, state and
local tax aspects of the Plan and the Trust Fund, including without limitation income taxes payable on the Trust Fund’s income, if any, any required withholding of income or other payroll taxes in connection with the payment of benefits from
the Trust Fund pursuant to the Plan, and all reporting required in connection with any such taxes. To the extent that the Company is required by applicable law to pay or withhold such taxes or to file such reports, such obligation shall be a
responsibility allocated to the Company, as the case may be, hereunder. To the extent the Trustee is required by applicable law to pay or withhold such taxes or to file such reports, the Company shall inform the Trustee of such obligation, shall
direct the Trustee with respect to the performance of such obligations and shall provide the Trustee with all information required by the Trustee to meet such obligations. Notwithstanding the foregoing, the Company may elect to pay any applicable
taxes directly. In the event the Company pays taxes directly, such amounts may be reimbursed from Trust assets by the Trustee, provided that the Company certifies the amount of taxes paid directly and instructs the Trustee to remit a reimbursement
of such taxes to the Company. 
  

	 	(b)	 The entitlement of a Participant or his or her beneficiaries to benefits under the Plan shall be determined by
the Company or such party as it shall designate under the Plan, and any claim for such benefits shall be considered and reviewed under the procedures set out in the Plan. The Company shall notify the Trustee of such determination and shall direct
commencement of payments of such benefits. 

  

	 	(c)	 The Company may make payment of benefits directly to the Participants or their beneficiaries as they become due
under the terms of the Plan. The Company shall notify the Trustee of its decision to make payment of benefits directly prior to the time amounts are payable to Participants or their beneficiaries. If requested by the Company, the Trustee shall
reimburse the Company for any benefits under the Plan and Trust which are paid by the Company or otherwise satisfied. In addition, if the principal of the Trust, together with any earnings thereon, are not sufficient to make payment of benefits in
accordance with the terms of the Plan, the Company shall immediately make up the balance of each such payment as it falls due. The Trustee shall notify the Company when principal and earnings are not sufficient. 

  
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	Section 4.	 Trustee Responsibility regarding Payments to Trust Beneficiary When Company Is or Is Alleged to Be Insolvent.

  

	 	(a)	 The Trustee shall cease payment of benefits to the Participants and their beneficiaries if the Company is
Insolvent. The Company shall be considered “Insolvent” for purposes of this Rabbi Trust Agreement if (i) the Company is unable to pay its debts as they become due, or (ii) the Company is subject to a pending proceeding as a
debtor under the United States Bankruptcy Code. A determination of Insolvency under the terms of this Rabbi Trust Agreement does not constitute an admission of insolvency by the Company for any other purpose. 

 

	 	(b)	 At all times during the continuance of this Trust, as provided in Section 1(d) hereof, the principal and
income of the Trust shall be subject to claims of general creditors of the Company under federal and state law as set forth below. 

  

	 	(1)	 The Board of Directors and the Chief Executive Officer of the Company shall have the duty to inform the Trustee
in writing of the Company’s Insolvency. If a person claiming to be a creditor of the Company alleges in writing to the Trustee that the Company has become Insolvent, the Trustee shall determine whether the Company is Insolvent and, pending such
determination, the Trustee shall discontinue payment of benefits to the Participants or their beneficiaries. In all cases, the Trustee shall be entitled to conclusively rely upon the written certification of the Board of Directors or the Chief
Executive Officer of the Company when determining whether the Company is Insolvent. 

  

	 	(2)	 Unless the Trustee has received notice from the Company or a person claiming to be a creditor alleging that the
Company is Insolvent, the Trustee shall have no duty to inquire whether the Company is Insolvent. The Trustee may in all events rely on such evidence concerning the Company’s solvency as may be furnished to the Trustee and that provides the
Trustee with a reasonable basis for making a determination concerning the Company’s solvency. 

  

	 	(3)	 If at any time the Trustee has determined that the Company is Insolvent, the Trustee shall discontinue payments
to the Participants or their beneficiaries and shall hold the assets of the Trust for the benefit of the Company’s general creditors except that the Trustee’s fees and expenses may continue to be paid pursuant to Section 11 subject to
any applicable bankruptcy rules. Nothing in this Rabbi Trust Agreement shall in any way diminish any rights of the Participants or their beneficiaries to pursue their rights as general creditors of the Company with respect to benefits due under the
Plan or otherwise. 

  

	 	(4)	 The Trustee shall resume the payment of benefits to the Participants or their beneficiaries in accordance with
Section 3 of this Rabbi Trust Agreement only after the Trustee has determined that the Company is not Insolvent (or is no longer Insolvent). 

  
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	 	(c)	 Provided that there are sufficient assets if the Trustee discontinues the payment of benefits from the Trust
pursuant to Section 4(b) hereof and subsequently resumes such payments, the first payment following such discontinuance shall include the aggregate amount of all payments due to the Participants or their beneficiaries under the terms of the
Plan (as certified to the Trustee by the Company) for the period of such discontinuance less the aggregate amount of any payments made to the Participants or their beneficiaries by the Company in lieu of the payments provided for hereunder during
any such period of discontinuance. 

  

	Section 5.	 Payments to Company. 

Except as otherwise specifically provided in this Rabbi Trust Agreement, the Company shall have no right or power to direct the Trustee to
return to the Company or to divert to others any of the Trust assets before all payment of benefits has been made to the Participants and their beneficiaries pursuant to the terms of the Plan (as certified to the Trustee by the Company).
Notwithstanding the above, in the event that the Company reasonably determines as of any valuation date that the fair market value of Trust assets exceeds 110% of the Trust Funding Requirement (the amount of such excess over 110% referred to
hereinafter as “Trust Surplus”), then the Company may direct the Trustee to transfer to the Company such assets as shall be designated by the Company in an amount not to exceed the Trust Surplus. The Trustee shall be entitled to rely
solely on the Company’s representation that the amounts directed to be returned to the Company do not exceed the applicable Trust Surplus and shall have no duty to review the Company’s determination of the amount of the Trust Surplus. In
addition, the Company may direct the Trustee to transfer to the Company Trust Fund assets in an amount necessary to avoid triggering taxable income to a Participant or beneficiary if such Participant or beneficiary would be required to recognize
income tax on such funds if they remain in the Trust. The Trustee shall be entitled to rely solely on the Company’s representation that the amount directed to be returned to the Company could become taxable to a Participant or beneficiary and
shall have no duty to review the Company’s determination of the amount. 
  

	Section 6.	 Investment and Administrative Authority. 

 

	 	(a)	 Prior to a Change of Control the Company shall establish and maintain written investment guidelines (the
“Investment Guidelines”), which may be revised by the Company from time to time, for the investment of the assets in the Trust Fund. The Trust Fund shall at all times be managed in accordance with the Investment Guidelines then in effect.
The Company may appoint and remove one or more investment managers from time to time to manage specified portions of the Trust Fund. To the extent that assets of the Trust Fund are not so managed by an investment manager appointed by the Company,
the Company shall manage all such assets. The Company and each investment manager shall designate in writing the persons who are authorized to represent such party in dealing with the Trustee. Except as provided in subsection (b) below, the
Trustee shall have no investment duties for the Trust Fund. The Trustee shall have no duty to inquire whether investment directions received from the Company or an investment manager are in accordance with the Plan or the Investment Guidelines, or
to review the assets purchased, retained or sold. 

  

	 	(b)	 After a Change of Control, the Trustee shall have and exercise sole investment discretion with respect to all
of the Trust Fund in accordance with the Investment Guidelines in effect immediately prior to a Change of Control, a copy of which shall be provided prior to a Change of Control to the Trustee by the Company. The Trustee’s sole responsibility
with regard to investment discretion shall be to exercise such 

  
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discretion in accordance with the Investment Guidelines. Thereafter, the Investment Guidelines may be changed from time to time by mutual agreement of the Trustee and the Company. The Trustee
may, in its sole discretion, appoint, retain or terminate an investment manager (including any affiliate of the Trustee) to manage all or a portion of the Trust Fund in accordance with the current Investment Guidelines. 

 

	 	(c)	 The Company shall have the right at any time, and from time to time, in its sole discretion, to substitute
assets of equal fair market value for any asset held by the Trust. This right is exercisable by Company in a non-fiduciary capacity without the approval or consent of any person in a fiduciary capacity.

  

	 	(d)	 In addition to those powers conferred by law, the Trustee shall have the following powers:

  

	 	(1)	 The Trustee may invest and reinvest the principal and income of the Trust and keep it invested, without
distinction between principal and income, in any security or property pursuant to the direction of the Company or an investment manager appointed by the Company prior to a Change of Control and in the Trustee’s sole discretion after a Change of
Control; provided, however, that in no event may the Trustee invest in securities (including stock or rights to acquire stock) or obligations issued by the Company, other than a de minimis amount held in common investment vehicles in which the
Trustee invests. Also, in no event shall the Trust be invested in real estate. For this purpose, “real estate” includes, but is not limited to, real property, leaseholds, mineral interests, and any form of assets which is secured by any of
the foregoing. All rights associated with assets of the Trust shall be exercised by the Trustee or the person designated by the Trustee, and shall in no event be exercisable by or rest with the Participants. 

 

	 	(2)	 The Trustee may collect and receive any and all money and other property due the Trust and give full discharge
therefor. 

  

	 	(3)	 The Trustee may deposit cash into interest bearing accounts in the banking department of the Trustee or an
affiliated banking organization; 

  

	 	(4)	 The Trustee may purchase, enter, sell, hold, and generally deal in any manner in and with contracts for the
immediate or future delivery of financial instruments of any issuer or of any other property and may also grant, purchase, sell, exercise, permit to expire, permit to be held in escrow, or otherwise acquire, dispose of, hold and generally deal in
any manner with and in all forms of options or any combination thereof pursuant to the direction of the Company or an investment manager appointed by the Company prior to a Change of Control, and in the Trustee’s sole discretion after a Change
of Control provided that such investments are in accordance with the Investment Guidelines. 

  

	 	(5)	 The Trustee may settle, compromise or submit to arbitration any claims, debt or damages due or owing to or from
the Trust; the Trustee may also commence or defend suits or legal proceedings to protect any interest of the Trust, and may represent the Trust in all suits or legal proceedings in any court or before any other body or tribunal.

  
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	 	(6)	 The Trustee may take all action necessary to pay for authorized transactions, including the temporary
advancement of cash or securities to settle security purchases and/or foreign exchange or contracts for foreign exchange and any property at any time held in the Trust Fund shall be security therefore to the extent of such advancement until it is
repaid. 

  

	 	(7)	 The Trustee may appoint custodians, subcustodians or subtrustees, domestic or foreign (including affiliates of
the Trustee), as to part or all of the Trust. The Trustee shall not be responsible or liable for any losses or damages suffered by the Company arising as a result of the insolvency of any custodian, subcustodian or subtrustee, except to the extent
the Trustee was negligent in its selection or continued retention of such custodian, subcustodian or subtrustee. In no event shall Trustee be liable for the acts or omissions of any custodian, subcustodian or subtrustee appointed pursuant to the
direction of the Company or an investment manager. 

  

	 	(8)	 The Trustee may hold property in nominee name, in bearer form, or in book entry form, in a clearinghouse
corporation or in a depository (including an affiliate of the Trustee), so long as the Trustee’s records clearly indicate that the assets held are a part of the Trust. The Trustee shall not be responsible for any losses resulting from the
deposit or maintenance of securities or other property (in accordance with market practice, custom, or regulation) with any recognized foreign or domestic clearing facility, book-entry system, centralized custodial depository, or similar
organization. 

  

	 	(9)	 The Trustee may generally do all acts, whether or not expressly authorized, which the Trustee may deem
necessary or desirable for the protection of the Trust. 

  

	Section 7.	 Settlement and Income; Market Practice Settlements. 

 

	 	(a)	 In accordance with the Trustee’s standard operating procedure, the Trustee shall credit the Trust Fund
with income, which shall include interest, dividends and return of capital, and maturity proceeds on securities on contractual payment date net of any taxes or upon actual receipt. To the extent the Trustee credits income on contractual payment
date, the Trustee may reverse such accounting entries to the contractual payment date if the Trustee reasonably believes that such amount will not be received. 

 

	 	(b)	 In accordance with the Trustee’s standard operating procedure, the Trustee will attend to the settlement
of securities transactions on the basis of either contractual settlement date accounting or actual settlement date accounting. To the extent the Trustee settles certain securities transactions on the basis of contractual settlement date accounting,
the Trustee may reverse to the contractual settlement date any entry relating to such contractual settlement if the Trustee reasonably believes that such amount will not be received. 

 

	 	(c)	 Settlements of transactions may be effected in trading and processing practices customary in the jurisdiction
or market where the transaction occurs. The Company acknowledges that this may, in certain circumstances, require the delivery of cash or securities (or other property) without the concurrent receipt of securities (or other property) or cash. In
such circumstances, the Trustee shall have no responsibility for nonreceipt of payment (or late payment) or nondelivery of securities or other property (or late delivery) by the counterparty. 

  
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	Section 8.	 Disposition of Income. 

During the term of this Trust, all income received by the Trust, net of expenses and taxes, shall be accumulated and reinvested. 

 

	Section 9.	 Accounting by Trustee. 

The Trustee shall keep accurate and detailed records of all investments, receipts, disbursements, and all other transactions required to be
made, including such specific records as shall be agreed upon in writing between the Company and the Trustee. 
 Within sixty (60) days
following the close of each calendar year and within ninety (90) days after the removal or resignation of the Trustee, the Trustee shall deliver to the Company a written account of its administration of the Trust during such year or during the
period from the close of the last preceding year to the date of such removal or resignation, setting forth all investments, receipts, disbursements and other transactions effected by it, including a description of all securities and investments
purchased and sold with the cost or net proceeds of such purchases or sales (accrued interest paid or receivable being shown separately), and showing all cash, securities and other property held in the Trust at the end of such year or as of the date
of such removal or resignation, as the case may be. If, within 120 days after the Trustee mails to the Company a statement with respect to the Trust, the Company has not given the Trustee written notice of any exception or objection thereto, the
statement shall be deemed to have been approved, and in such case, the Trustee shall not be liable for any matters in such statements. The Company or its agent shall have the right at its own expense and with prior written notice to the Trustee to
inspect the Trustee’s books and records directly relating to the Trust Fund during normal business hours. 
  

	Section 10.	 Responsibility of Trustee. 

 

	 	(a)	 The Trustee shall act with the care, skill, prudence and diligence under the circumstances then prevailing that
a prudent person acting in like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims, provided, however, that the Trustee shall incur no liability to any person for any action taken
pursuant to a direction, request or approval given by the Company which is contemplated by, and in conformity with, the terms of the Plan (as certified to the Trustee by the Company) or this Trust and is given in writing by the Company. In the event
of a dispute between the Company and a third party, the Trustee may apply to a court of competent jurisdiction to resolve the dispute. 

  

	 	(b)	 The Trustee is not a party to and has no duties or responsibilities under the Plan other than those that may be
expressly contained in this Rabbi Trust Agreement. In any case in which a provision of this Rabbi Trust Agreement conflicts with any provision in the Plan, this Rabbi Trust Agreement shall control. 

 

	 	(c)	 The Trustee shall not be responsible for the title, validity or genuineness of any property or evidence of
title thereto received by it or delivered by it pursuant to this Rabbi Trust Agreement and shall be held harmless in acting upon any notice, request, direction, instruction, consent, certification or other instrument believed by it to be genuine and
delivered by the proper party or parties. 

  
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	 	(d)	 The Company agrees to indemnify and hold harmless the Trustee, its parent, subsidiaries and affiliates, and
each of their respective officers, directors, employees and agents from and against all liability, loss and expense, including reasonable attorneys’ fees and expenses incurred by the Trustee or any of the foregoing indemnitees arising out of or
in connection with this Rabbi Trust Agreement, except as a result of the Trustee’s own negligence, willful misconduct, bad faith or breach of this Agreement or of its fiduciary duties . The Trustee shall be fully indemnified by the Company for
any action taken in accordance with, or any failure to act in the absence of, the Company’s or an investment manager’s directions. If the Trustee undertakes or defends any litigation arising in connection with this Trust, the Company
agrees to indemnify the Trustee against the Trustee’s costs, expenses and liabilities (including, without limitation, attorneys’ fees and expenses) relating thereto and to be primarily liable for such payments except where the Trustee is
determined to be liable due to its negligence, willful misconduct, bad faith, or breach of this Rabbi Trust Agreement or of its fiduciary duties. If the Company does not pay such costs, expenses and liabilities in a reasonably timely manner, the
Trustee may obtain payment from the Trust. This Section 10(d) shall survive the termination of this Rabbi Agreement. 

  

	 	(e)	 The Trustee may consult with legal counsel (who may also be counsel for the Company generally) with respect to
any of its duties or obligations hereunder and as a part of its reimbursable expenses under this Agreement, pay counsel’s reasonable compensation and expenses. The Trustee shall be entitled to rely on and may act upon advice of counsel on all
matters, and shall be without liability for any action reasonably taken or omitted pursuant to such advice. 

  

	 	(f)	 The Trustee may hire agents, accountants, actuaries, investment advisors, financial consultants or other
professionals, including affiliates, to assist it in performing any of its duties or obligations hereunder. 

  

	 	(g)	 The Trustee shall have without exclusion, all powers conferred on Trustees by applicable law, unless expressly
provided otherwise herein, provided, however, that if an insurance policy is held as an asset of the Trust, the Trustee shall have no power to name a beneficiary of the policy other than the Trust, to assign the policy (as distinct from conversion
of the policy to a different form) other than to a successor Trustee, or to loan to any person the proceeds of any borrowing against such policy. 

  

	 	(h)	 Notwithstanding any powers granted to the Trustee pursuant to this Trust Agreement or to applicable law, the
Trustee shall not have any power that could give this Trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and
Administrative Regulations promulgated pursuant to the Internal Revenue Code. 

  

	 	(i)	 Notwithstanding anything in this Rabbi Trust Agreement to the contrary contained herein, the Trustee shall not
be responsible or liable for any losses to the Trust resulting from any event beyond the reasonable control of the Trustee, its agents or custodians, including but not limited to nationalization, strikes, expropriation, devaluation, seizure, or
similar action by any governmental authority, de facto or de 

  
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jure; or enactment, promulgation, imposition or enforcement by any such governmental authority of currency restrictions, exchange controls, levies or other charges affecting the Trust’s
property; or the breakdown, failure or malfunction of any utilities or telecommunications systems; or any order or regulation of any banking or securities industry including changes in market rules and market conditions affecting the execution or
settlement of transactions; or acts of war, terrorism, insurrection or revolution; or acts of God; or any other similar event. This Section shall survive the termination of this Rabbi Trust Agreement. 

 

	 	(j)	 The Trustee shall not be liable for any act or omission of any other person, except to the extent that such
person is an agent of the Trustee (not appointed pursuant to the direction of the Company or an investment manager) or under the control of the Trustee, in carrying out any responsibility imposed upon such person and under no circumstances shall the
Trustee be liable for any indirect, consequential, or special damages with respect to its role as Trustee. 

  

	Section 11.	 Compensation and Expenses of Trustee. 

The Company shall pay all Trustee’s fees and expenses necessary for the Trustee to fulfill its duties hereunder as mutually agreed between
the parties. If not so paid within sixty (60) days after an invoice is sent to the Company, the fees and expenses shall be paid from the Trust. The Company acknowledges that as part of the Trustee’s compensation, the Trustee may earn
interest on balances including disbursement balances and balances arising from purchase and sale transactions. If the Trustee advances cash or securities to the Trust for any purpose, or in the event that the Trustee shall incur or be assessed
taxes, interest, charges, expenses, assessments, or other liabilities in connection with the performance of this Rabbi Trust Agreement, except such as may arise from its own negligent failure to act or willful misconduct, any property at any time
held in the Trust Fund shall be, to the extent of the advance, security therefor and the Trustee shall be entitled to collect from the Trust sufficient cash for reimbursement, and if such cash is insufficient, dispose of the assets of the Trust Fund
to the extent necessary to obtain reimbursement. To the extent the Trustee advances funds to the Trust for disbursements or to effect the settlement of purchase transactions, the Trustee shall be entitled to collect from the Trust either
(i) with respect to domestic assets, an amount equal to what would have been earned on the sums advanced (an amount approximating the “federal funds” interest rate) or (ii) with respect to
non-domestic assets, the rate applicable to the appropriate foreign market. 
  

	Section 12.	 Change of Control. 

  

	 	(a)	 For purposes of this Rabbi Trust Agreement, the term “Change of Control” has the meaning given it in
the U.S. Dollar Indenture, dated as of January 18, 2001, between the Company and Citibank, N.A. (the “Indenture”), as in effect on the date of this Rabbi Trust Agreement and without regard to any subsequent (i) amendment or
termination of the Indenture or (ii) full payment or defeasance of the securities issued under, or other discharge of the Company’s liabilities under, the Indenture. 

 

	 	(b)	 The Company shall have the duty to inform the Trustee in writing upon the occurrence of a Change of Control.
The Trustee shall be entitled to conclusively rely upon such written certification of the Company and shall have no responsibility or liability for determining whether a Change of Control has occurred. 

  
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	Section 13.	 Resignation and Removal of Trustee. 

 

	 	(a)	 The Trustee may resign at any time by written notice to the Company, which shall be effective sixty
(60) days after receipt of such notice unless the Company and the Trustee agree otherwise. 

  

	 	(b)	 The Trustee may be removed by the Company on sixty (60) days notice or upon shorter notice accepted by the
Trustee, except that after a Change of Control as defined herein, the Trustee may not be removed by the Company for one year. 

  

	 	(c)	 Upon resignation or removal of the Trustee and appointment of a successor Trustee, all assets shall
subsequently be transferred to the successor Trustee. The transfer shall be completed within ninety (90) days after receipt of the notice of resignation, removal or transfer, unless the Company extends the time limit. 

 

	 	(d)	 If the Trustee resigns or is removed, a successor shall be appointed in accordance with Section 14 hereof
by the effective date of resignation or removal under paragraphs (a) or (b) of this Section. If no such appointment has been made, the Trustee may apply to a court of competent jurisdiction for appointment of a successor or for instructions.
The Trustee shall continue to fulfill its duties hereunder and shall receive compensation pursuant to Section 11 until the successor’s appointment is effective. All expenses of the Trustee in connection with the proceeding shall be allowed
as administrative expenses of the Trust. 

  

	 	(e)	 If the Trustee resigns within one year of a Change of Control, as defined herein, the Trustee shall select a
successor Trustee in accordance with the provisions of Section 14(c) hereof prior to the effective date of the Trustee’s resignation. 

  

	Section 14.	 Appointment of Successor. 

 

	 	(a)	 If the Trustee resigns or is removed in accordance with Section 13(a) or (b) hereof, the Company
shall appoint any third party, such as a bank trust department or other party that may be granted corporate trustee powers under state law, as a successor to replace the Trustee upon such resignation or removal. The appointment shall be effective
when accepted in writing by the new Trustee, who shall have all of the rights and powers of the former Trustee, including ownership rights in the Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the
Company or the successor Trustee to evidence the transfer. 

  

	 	(b)	 The successor Trustee need not examine the records and acts of any prior Trustee and shall not be responsible
for and the Company shall indemnify and defend the successor Trustee from any claim or liability resulting from any action or inaction of any prior Trustee or from any other past event, or any condition existing at the time it becomes successor
Trustee. 

  

	 	(c)	 If the Trustee resigns pursuant to the provisions of Section 13(e) hereof and selects a successor Trustee,
the Trustee may appoint any third party such as a bank trust department or other party that may be granted corporate trustee powers under state law. The appointment of a successor Trustee shall be effective when accepted in writing by the new
Trustee. The new Trustee shall have all the rights and powers of the former Trustee, including ownership rights in Trust assets. The former Trustee shall execute any instrument necessary or reasonably requested by the successor Trustee to evidence
the transfer. 

  
 11 

	Section 15.	 Amendment or Termination. 

 

	 	(a)	 Subject to Section 15(c), this Rabbi Trust Agreement may be amended by a written instrument which is
executed by the Trustee and Company and which recites that it is an amendment to this Rabbi Trust Agreement. Notwithstanding the foregoing, no such amendment shall conflict with the terms of the Plan (as certified to the Trustee by the Company) or
shall make the Trust revocable. 

  

	 	(b)	 The Trust shall not terminate until the date on which the Participants and their beneficiaries are no longer
entitled to benefits pursuant to the terms of the Plan (as certified to the Trustee by the Company). Upon termination of the Trust any assets remaining in the Trust shall be returned to the Company. 

 

	 	(c)	 Notwithstanding any other provision in this Rabbi Trust Agreement, this Rabbi Trust Agreement may not be
amended within one year after the occurrence of a Change of Control, unless the Trustee determines, in its discretion, that such amendment is necessary for the administration of the trust and does not conflict with or alter the provisions of the
Plan. 

  

	Section 16.	 Miscellaneous. 

  

	 	(a)	 Neither the Company nor the Trustee may assign this Rabbi Trust Agreement without the prior written consent of
the other, except that the Trustee may assign its rights and delegate its duties hereunder to any corporation or entity which directly or indirectly is controlled by, or is under common control with, the Trustee. This Rabbi Trust Agreement shall be
binding upon, and inure to the benefit of, the Company and the Trustee and their respective successors and permitted assigns. Any entity which shall by merger, consolidation, purchase, or otherwise, succeed to substantially all the trust business of
the Trustee shall, upon such succession and without any appointment or other action by the Company, be and become successor trustee hereunder, upon notification to the Company 

 

	 	(b)	 Any provision of this Rabbi Trust Agreement prohibited by law shall be ineffective to the extent of any such
prohibition, without invalidating the remaining provisions hereof. 

  

	 	(c)	 Benefits payable to Participants and their beneficiaries under this Rabbi Trust Agreement may not be
anticipated, assigned (either at law or in equity), alienated, pledged, encumbered or subjected to attachment, garnishment, levy, execution or other legal or equitable process. 

 

	 	(d)	 Notwithstanding anything to the contrary contained elsewhere in this Rabbi Trust Agreement, any reference to
the Plan or Plan provisions which require knowledge or interpretation of the Plan shall impose a duty upon the Company to communicate such knowledge or interpretation to the Trustee. The Trustee shall have no obligation to know or interpret any
portion of the Plan and shall in no way be liable for any proper action taken contrary to the Plan. 

  
 12 

	 	(e)	 This Rabbi Trust Agreement shall be governed by and construed in accordance with the laws of the Commonwealth
of Massachusetts. The parties hereby expressly waive, to the full extent permitted by applicable law, any right to trial by jury with respect to any judicial proceeding arising from or related to this Rabbi Trust Agreement. 

 

	Section 17.	 Reliance of Representation. 

 

	 	(a)	 The Company and the Trustee each acknowledge that the other will be relying, and shall be entitled to rely, on
the representations, undertakings and acknowledgments of the other as set forth in this Rabbi Trust Agreement. The Company and the Trustee each agree to notify the other promptly if any of its representations, undertakings, or acknowledgments set
forth in this Rabbi Trust Agreement ceases to be true. 

  

	 	(b)	 The Company and the Trustee hereby each represent and warrant to the other that it has full authority to enter
into this Agreement upon the terms and conditions hereof and that the individual executing this Rabbi Trust Agreement on their behalf has the requisite authority to bind the Company and the Trustee to this. 

The parties have executed this Rabbi Trust Agreement as of the dates set forth below. 

LEVI STRAUSS & CO. 
  

			
	By:	 	  

	Name:	 	  

	Title:	 	  

	Date:	 	  

 BOSTON SAFE DEPOSIT AND TRUST COMPANY 
  

			
	By:	 	  

	Name:	 	  

	Title:	 	  

	Date:	 	  

  
 13 

 RABBI TRUST AGREEMENT 

Between Levi Strauss & Co. and Boston Safe Deposit and Trust Company 

APPENDIX A 
 Name of Plan 

The Levi Strauss & Co. Deferred Compensation Plan for Executives and Outside Directors 

  
 14EX-10.19

 Exhibit 10.19 

EMPLOYMENT AGREEMENT 

THIS AGREEMENT (“Agreement”) is entered into this 9th day of June, 2011, by and between Charles V. Bergh
(“Executive”) and Levi Strauss & Co., a Delaware corporation (the “Corporation”). 
 For ease of
reference, this Agreement is divided into the following parts which taken together constitute one integrated agreement between the parties, which begin on the pages indicated: 

 

			
	FIRST PART:	  	TERM OF EMPLOYMENT, DUTIES AND SCOPE, COMPENSATION AND BENEFITS DURING EMPLOYMENT, RELOCATION BENEFITS (Sections 1 - 7, beginning on page 2)
		
	SECOND PART:	  	COMPENSATION AND BENEFITS IN CASE OF TERMINATION WITHOUT CAUSE OR FOR GOOD REASON AND OTHER TERMINATIONS (Sections 8 - 11, beginning on page 6)
		
	THIRD PART:	  	COMPENSATION AND BENEFITS IN CASE OF A TERMINATION WITHOUT CAUSE OR FOR GOOD REASON OCCURRING WITHIN TWO YEARS AFTER A CHANGE IN CONTROL, LIMITATION ON PAYMENTS (Sections 12 - 14, beginning on page 10)
		
	FOURTH PART:	  	RELEASE OF CLAIMS, SECTION 409A, CONFIDENTIAL INFORMATION AND CODE OF ETHICS, SEVERABILITY, SUCCESSORS, MISCELLANEOUS PROVISIONS, SIGNATURE PAGE (Sections 15 - 21, beginning on page 14)

  
 1 

			
	FIRST PART:	  	TERM OF EMPLOYMENT, DUTIES AND SCOPE, COMPENSATION AND BENEFITS DURING EMPLOYMENT, RELOCATION BENEFITS

 Section 1. Term of Employment 

 

	(a)	 Start Date. The Corporation agrees to employ Executive, and Executive agrees to be employed by the
Corporation at its headquarters in San Francisco, California, under the terms of this Agreement, commencing on a date to be agreed by the parties that is not later than September 1, 2011 (the “Start Date”) until the earlier of
(1) the date of Executive’s death or (2) the date when Executive’s employment terminates pursuant to Section 1(b), (c) or (d) below (the “Term”). As a condition to Executive’s employment hereunder
(including the receipt of any payments or benefits), Executive agrees to take the following action prior to the Start Date: (1) to resign from all Board of Directors on which Executive is currently a member; and (2) to complete the
Corporation’s standard new hire paperwork provided to Executive. 

  

	(b)	 Early Termination or Resignation. Executive’s employment with the Corporation will be “at-will” employment and may be terminated by the Corporation at any time and for any reason by giving Executive written notice. Executive may terminate Executive’s employment for any reason by giving
the Corporation not less than thirty (30) calendar days’ advance written notice. The foregoing shall be subject to all of the rights and obligations described herein. 

 

	(c)	 Termination for Cause. The Corporation may terminate Executive’s employment at any time for Cause.
For all purposes under this Agreement, “Cause” shall mean (i) willful misconduct or gross negligence that is materially and demonstrably injurious to the interest, business or reputation of the Corporation, (ii) conviction
(including entry of a nolo contender plea) of a felony or misdemeanor involving fraud, theft or dishonesty, other than due to Limited Vicarious Liability, (iii) embezzlement or material misappropriation of any property of the Corporation, or
(iv) willful and continuous failure to substantially perform Executive’s employment duties (including, without limitation, Executive’s inability to perform such duties as a result of chronic alcoholism or drug addiction).

 “Limited Vicarious Liability” means any liability which is (A) based on acts of the Corporation
for which Executive is responsible solely as a result of his office(s) with the Corporation and (B) provided that (x) he was not directly involved in such acts and either had no prior knowledge of such intended actions or promptly acted
reasonably and in good faith to attempt to prevent the acts causing such liability or (y) he did not have a reasonable basis to believe that a law was being violated by such acts. 

For purposes of this Agreement, no act, or failure to act, by Executive shall be considered “willful” unless it is done, or omitted
to be done, by Executive in bad faith and without reasonable belief that Executive’s act or failure to act was in the best interest of the Corporation. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted
by the Corporation’s Board of Directors (the “Board of Directors”) or based upon the advice of counsel for the Corporation, shall be conclusively presumed to be done, or omitted to be done, by Executive in good faith and in the
best interest of the Corporation. 
 The termination of employment of Executive shall not be “for Cause” unless and until
there shall have been delivered to Executive a copy of a resolution duly adopted by the affirmative vote of not less than two-thirds of then sitting directors of the Board of Directors at a meeting of the
Board of Directors called and held for such purpose (after reasonable notice is provided to Executive and Executive is given an opportunity, together with counsel, to be heard before the Board of Directors), finding that Executive is guilty of the
conduct described in clauses (i), (ii), (iii) or (iv) above, and specifying the particulars in detail and, in the case of any act or failure to act forming a basis for such proposed termination under clause (iv), Executive shall be provided not
less than thirty (30) days within which to cure any such conduct. 

  
 2 

	(d)	 Termination for Disability. The Corporation may terminate Executive’s employment for Disability by
giving Executive not less than thirty (30) days advance written notice. For all purposes under this Agreement, “Disability” shall have the meaning set forth in Treasury Regulation
Section 1.409A-3(i)(4)(i) and (iii). 

 Section 2. Duties and Scope of Employment

  

	(a)	 Position. The Corporation agrees that, during the Term, Executive shall serve in the positions of
President and Chief Executive Officer of the Corporation. Executive shall be given such duties, responsibilities and authorities as are commensurate with his positions and shall report directly to the Board of Directors. The Board of Directors shall
elect Executive onto the Board of Directors effective on the Start Date (or such earlier date as the parties may agree). Executive shall not receive any compensation for his services on the Board of Directors. Without limiting the foregoing,
Executive may be required to serve as an officer or director of one or more of the Corporation’s subsidiaries. 

  

	(b)	 Obligations. During the Term, Executive shall devote Executive’s full business efforts and time to
the business and affairs of the Corporation as needed to carry out his duties and responsibilities. For the duration of the Term, Executive agrees not to actively engage in any other employment, occupation or consulting activity for any direct or
indirect remuneration without the prior approval of the Board of Directors; provided, however, the foregoing shall not preclude Executive from engaging in civic and charitable activities, or from serving on the board of directors of one other non- competitive entity with approval of the Board of Directors (which approval shall not be unreasonably withheld) on or after the first (1st) anniversary of the Start Date, as long as such activities and board
service does not interfere or conflict with Executive’s duties and responsibilities to the Corporation and its subsidiaries. As a condition to Executive’s employment hereunder (including the receipt of payments or benefits hereunder),
Executive represents that no restrictive covenant exists preventing Executive from performing his duties and responsibilities for the Corporation. 

Section 3. Base Compensation 
 During the
Term, the Corporation agrees to pay Executive as compensation for services to the Corporation and its subsidiaries a base salary at the annual rate of $1,200,000. Such salary shall be payable in accordance with the standard payroll procedures of the
Corporation and will be subject to review and adjustment (up or down) in a manner that is consistent with the other members of the executive team and in making such adjustments the Corporation shall consider competitive benchmarks to relevant peer
companies. The annual compensation specified in this Section 3 as in effect from time to time is referred to in this Agreement as the “Base Compensation.” 

Section 4. Annual Incentive Compensation 

During the Term, the Corporation shall award Executive an annual cash incentive compensation opportunity under its Annual Incentive Plan (or any successor
plan) (“AIP”) having a target amount equal to 135% of the Base Compensation (“Target AIP”) and shall be payable at the Target AIP or such lesser or greater amount as is provided under the AIP in accordance with
Executive’s achievement of the performance measures and levels in effect for the Corporation’s applicable fiscal year, including, without limitation, achievement of individual performance measures and application of Corporation discretion
with respect to awards under the AIP. Such Target AIP shall be subject to review and adjustment (up or 

  
 3 

 
down) in a manner that is consistent with the other members of the executive team and in making such adjustments the Corporation shall consider competitive benchmarks to relevant peer companies.
Performance measures and levels with respect to the AIP shall be determined by the Board of Directors or the Human Resources Committee thereof, in its sole discretion, in accordance with the terms and conditions of the AIP; provided, however, that,
in respect of the 2011 fiscal year, Executive shall be paid annual cash incentive compensation in an amount that is not less than 100% of the Base Compensation, which shall be prorated in accordance with the fraction, the numerator of which is the
number of days Executive was employed by the Corporation in the 2011 fiscal year and the denominator of which is 365. 
 Section 5. Long-Term
Incentive Compensation 
 On the later of the Start Date or the next regularly scheduled grant date for awards by the Corporation, Executive shall be
granted an award of stock appreciation rights (SARs) under the Corporation’s 2006 Equity Incentive Plan (“2006 EIP”) having a grant date value of not less than $4,900,000, as determined consistent with Schedule A attached
hereto (the “Initial SAR Award”); provided, however, that the vesting commencement date shall be the Start Date in all instances. 
 In
addition, subject to Executive’s continued employment with the Corporation on the applicable date of grant, Executive will be granted, in calendar 2012 and 2013 at the time annual awards are granted (or, if not granted, would be granted) to
other senior executives, respective additional annual awards of SARs and/or other long-term incentive award with an aggregate grant date value of not less than the median aggregate grant date value of annual long-term incentive awards made to the
Chief Executive Officers of the Corporation’s peer group of companies approved by the Human Resources Committee of the Board of Director for this purpose (consistent with recent past practices) and determined consistent with Schedule A (the
“2012/2013 Grant Metrics”); provided, however, that the 2012/2013 Grant Metrics shall not apply to any awards made during calendar 2012 or 2013 other than the annual awards under this paragraph (for example, excluding from coverage
under this paragraph any special award granted during calendar 2012 or 2013) or to any awards granted on or after the consummation of an initial public offering of the Corporation’s common stock. 

The per share exercise price for the SARs granted pursuant to this Section 5 shall equal the Fair Market Value (as defined under the 2006 EIP, or
successor plan) of an underlying share of the Corporation’s common stock on the date of grant. Subject to the accelerated vesting provisions set forth herein, the Initial SAR Award and any annual long-term incentive award granted in 2012 shall
vest as to 25% of the shares subject to the award on the first anniversary of the vesting commencement date (which shall be Start Date for the Initial SAR Award and the date of grant for such 2012 award), and as to 1/48th of the shares subject to
the award monthly (on the same calendar date during the month as the Start Date for the Initial SAR Award and the date of grant for such 2012 award) thereafter, subject to Executive continuing to provide services to the Corporation through the
relevant vesting dates, except as otherwise provided herein. Each award of SARs granted in 2011 or 2012 (if any) will have a term of like duration as annual grants made to other senior executives during such years (but not less than seven
(7) years) and except as specifically set forth herein shall be subject to the terms and conditions of the 2006 EIP (or successor plan) and the grant notice and award agreement evidencing the award as set forth in Exhibit A attached hereto,
which collectively shall be the governing documents with respect to each award of SARs granted in 2011 or 2012 (if any). 
 Any long-term incentive awards
and/or provisions thereof that are not required under this Section 5 shall be determined solely by the Board of Directors and/or its Human Resources Committee, subject to such terms as apply pursuant to the Second Part and the Third Part of
this Agreement. 

  
 4 

 Section 6. Additional Benefits 

 

	(a)	 In General. During the Term, Executive shall be eligible to participate in the employee benefit plans
and programs maintained by the Corporation of general applicability to other senior executives of the Corporation, subject to the generally applicable terms and conditions of the plan or program in question and the discretion and determinations of
any person, committee or entity administering such plan or program made in accordance with the terms and conditions of such plan or program. The Corporation reserves the right to cancel or change the benefit plans and programs it offers to its
employees at any time. 

  

	(b)	 Miscellaneous Perquisites. During the Term, Executive shall be entitled to perquisites consistent with
the perquisites provided to the Corporation’s predecessor Chief Executive Officer (excluding any expatriate allowances). During the Term, Executive will also be entitled to such other perquisites consistent with competitive market practices, as
determined in the sole discretion of the Board of Directors. 

  

	(c)	 Relocation Benefits. The Corporation shall provide or reimburse Executive for certain expenses relating
to Executive’s relocation from Boston, Massachusetts to the San Francisco Bay Area, as set forth in the Corporation’s Homeowner Relocation Benefits Level A policy summarized in Schedule B; provided, however, that (1) a 20% cost-of living allowance shall apply for purposes thereof such that Executive will be eligible for the cost of living allowance summarized in Schedule B and (2) the marketing incentive set forth in the
“Other Incentives” section of such summary shall not be provided to Executive. 

  

	(d)	 Employment Bonus. Within seven calendar (7) days after the Start Date, the Corporation shall pay
Executive a one-time sign-on bonus in the amount of $1,850,000 (the “Employment Bonus”). If Executive terminates his employment pursuant to
Section 1(b) other than for Good Reason or due to Disability (or other than due to his death), or if Executive’s employment hereunder is terminated by the Corporation for Cause, in each case, prior to the first anniversary of the Start
Date, Executive shall repay to the Corporation the entire Employment Bonus upon such termination. Such repayment shall be required to be made for the full amount set forth above and shall not be reduced for any taxes paid by Executive with respect
to the Employment Bonus. 

  

	(e)	 Vacation. Executive will be entitled to paid time off, in accordance with the Corporation’s policy
applicable to senior executive officers, with the timing and duration of specific vacations mutually and reasonably agreed to by the parties hereto. Upon Executive’s termination of employment, Executive will be entitled to receive
Executive’s accrued but unpaid paid time off through the date of Executive’s termination of employment. 

 Section 7.
Business Expenses and Travel 
 During the Term, Executive shall be authorized to incur and shall be reimbursed for all necessary and reasonable
business expenses incurred in connection with Executive’s duties hereunder, and the Corporation shall reimburse Executive for such expenses upon presentation of an itemized account and appropriate supporting documentation, in each case, in
accordance with the Corporation’s policies with respect thereto. 

  
 5 

			
	SECOND PART:	 	COMPENSATION AND BENEFITS IN CASE OF TERMINATION WITHOUT CAUSE OR FOR GOOD REASON AND OTHER TERMINATIONS

 Section 8. Terminations 

This Second Part of the Agreement, consisting of Sections 8 through 11, describes the benefits and compensation, if any, payable in case of a termination of
Executive’s employment hereunder that does not entitle Executive to benefits or compensation under the Third Part of this Agreement. In the event of a termination of employment that entitles Executive to compensation or benefits under the Third
Part of this Agreement, no compensation or benefits shall be payable under this Second Part. 
 Section 9. Termination Without Cause; Termination
for Good Reason 
 In the event that Executive’s employment terminates as a result of a Qualifying Termination (as defined below), then, subject
to Sections 15 and 16 and compliance by Executive with his obligations set forth in Section 17, Executive shall be entitled to receive the payments and benefits described in Sections 9(b), (d) and (e) for any Qualifying Termination
occurring at any time following the Start Date through the fourth anniversary of the Start Date and the benefits described in Section 9(c) for any Qualifying Termination occurring at any time. Following the expiration of such four (4) year
anniversary, in lieu of the payments and benefits described in Sections 9(b), (d) and (e), Executive shall participate in any severance policy applicable to the other senior executives of the Corporation in effect at such time in accordance with the
terms of such policy. 
  

	(a)	 Qualifying Termination. A Qualifying Termination occurs if at any time following the Executive’s
Start Date, and in the case of Section 9(b), (d) and (e) through the fourth anniversary of the Start Date: 

  

	 	(1)	 The Corporation terminates Executive’s employment for any reason other than Cause or Disability; or

  

	 	(2)	 Executive resigns for “Good Reason”, which means in the absence of Executive’s written
consent, Executive’s termination of employment within ninety (90) days following the expiration of any cure period (set forth below) following the occurrence of one or more of the following: (i) any diminution or material alteration
of Executive’s title, duties, authority or responsibilities (including reporting requirements), including if Executive is not the most senior officer of the parent company or other entity resulting from any Change in Control (as defined in
Section 13(f) hereof), whether a strategic, financial or other party effecting such Change in Control; however, excluding an isolated, insubstantial and inadvertent action not taken in bad faith and which is remedied by the Corporation promptly
after receipt of notice by Executive; (ii) any failure to elect and re-elect (in any instance occurring prior to an initial public offering of the Corporation’s common stock) or to nominate for re-election (in any instance occurring on or following such an initial public offering), Executive as a member of the Board of Directors; (iii) any material breach by the Corporation of a material provision of
this Agreement or other material compensatory agreement between Executive and the Corporation or any subsidiary (including any equity or other long-term incentive award agreement), which is not cured by the Corporation (or subsidiary) within thirty
(30) days after notice by Executive; (iv) requiring Executive to be based at any office or location more than fifty (50) miles from the Corporation’s principal offices currently located in San Francisco; or (v) the failure
of a successor to the assets or business of the Corporation to assume the obligations of the Corporation under this Agreement. Executive will not resign for Good Reason without first providing the Corporation with written notice within sixty
(60) days of his first knowledge of the event that Executive believes constitutes “Good Reason” identifying the acts or omissions constituting the grounds for Good Reason and any cure period provided under such circumstances
above. 

  
 6 

 For avoidance of doubt, termination of Executive’s employment by reason of death shall
not constitute a Qualifying Termination. 
  

	(b)	 Severance Payments. The Corporation shall pay to Executive following the date of the employment
termination and ratably spread over the succeeding twenty-four (24) months, in accordance with the Corporation’s standard payroll procedures, an aggregate amount equal to two times (2x) the sum of the Base Compensation and Target AIP.

  

	(c)	 Equity Vesting. Notwithstanding anything to the contrary in the 2006 EIP (or any successor plan) or any
award thereunder, excepting the case in which Executive was eligible under Section 10(a) and that the Qualifying Termination shall thereby be deemed a Qualifying Retirement Termination and Section 10(b) shall govern, the unvested portion
of Executive’s then outstanding equity and other long-term incentive awards that would have vested during the twenty-four (24) months following the date of Executive’s termination had his employment not so terminated will vest
immediately prior to Executive’s Qualifying Termination, and all vested equity and other long-term incentive awards (including those vesting under the preceding clause) granted as SARs or stock options shall be exercisable and remain
exercisable for eighteen (18) months following the date of Executive’s termination (but (i) in no event later the original term/expiration date of the award and (ii) only during an exercise window permitted under the terms the
2006 EIP (or substantially similar provisions under the successor thereto under which the applicable award is granted) as may apply prior to the occurrence of an initial public offering). 

 

	(d)	 Pro-Rated Bonus, Prior Year Bonus and Accrued Benefits. At such
time as annual incentive compensation awards are paid by the Corporation to other senior executives, but no later than the fifteenth (15th) day of the third (3rd) month following the close of the later of the Corporation’s fiscal year or the
calendar year in which Executive’s termination occurs, Executive shall be paid a pro-rated AIP award in respect of the performance period in which the Qualifying Termination occurs based on achievement of
the objective performance goals applicable to such AIP award and the percentage of the performance period that has elapsed as of the date of the Qualifying Termination, treating any subjective performance goals as having been fully achieved, and
without the exercise of any negative discretion by the Corporation in determining such amount of annual incentive compensation for Executive. Executive (or his Severance Beneficiary) will also be paid any earned but unpaid bonus in respect of the
fiscal year prior to the fiscal year of Executive’s Qualifying Termination based on the achievement of the objective performance goals applicable to such AIP award, treating any subjective performance goals as having been fully achieved, and
without the exercise of any negative discretion by the Corporation in determining such amount of annual incentive compensation for Executive. Executive shall also be entitled to his Accrued Benefits (as defined in Section 11) that are not
duplicative of payments or benefits under this Section 9 or any other Corporation program, policy or agreement. 

  

	(e)	 Other Benefits. Executive shall be entitled to the following additional benefits: 

 

	 	(1)	 If Executive and/or Executive’s covered dependents elect(s) to receive medical coverage continuation
through Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Corporation will pay the same percentage of the monthly cost of Executive’s COBRA medical coverage as it paid for Executive’s medical coverage
during his active employment up to a maximum coverage period of 18 months. During the Corporation-subsidized COBRA coverage 

  
 7 

	 	
period, Executive will be responsible for payment of the remainder of the cost of Executive’s COBRA medical coverage and for the full cost of any dental or vision coverage elected by the
Executive. All periods of Corporation-subsidized coverage are counted toward the 18-month COBRA entitlement. After the Corporation-subsidized coverage period ends, the Executive will be responsible for payment
of his entire COBRA premium. Continuation of COBRA coverage will not extend beyond the date on which Executive becomes eligible for coverage under another group health plan unless the new plan has a
pre-existing condition limitation or Executive is entitled to Medicare. The benefits under this Section 9(e)(1) shall be delivered in a manner that satisfies applicable law. 

 

	 	(2)	 The Corporation 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 in Section 9(e)(1) above. 

  

	 	(3)	 If Executive is retiree-eligible to be covered by the Corporation’s retiree health benefits (if any), the
Corporation will fully pay for retiree medical coverage for the same duration that it subsidizes the COBRA coverage set forth in Section 9(e)(1) above. 

  

	 	(4)	 Reasonable outplacement services for a chief executive officer-level position. 

 

	(f)	 Exclusive Remedy. In the event of a Qualifying Termination, the provisions of this Section 9 are
intended to be and are exclusive and in lieu of any other rights or remedies to which Executive or the Corporation may otherwise be entitled, whether at law, tort or contract, in equity, or under this Agreement. Executive will be entitled to no
other severance, benefits, compensation or other payments or rights upon such a Qualifying Termination other than those benefits expressly set forth in this Section 9 or pursuant to written equity or other long-term incentive award agreements
with the Corporation. 

 Section 10. Retirement 

In the event that Executive’s employment terminates as a result of a Qualifying Retirement Termination (as defined below), then, subject to
Section 15 and compliance by Executive with his obligations set forth in Section 17, Executive shall be entitled to receive the payments and benefits described in Sections 10(b) and (c). 

 

	(a)	 Qualifying Retirement Termination. A Qualifying Retirement Termination occurs if, after the fifth
anniversary of the Start Date, Executive resigns his employment with the Corporation for any reason other than in connection with an impending termination for Cause by the Company. 

 

	(b)	 Equity Vesting. Notwithstanding anything to the contrary in the applicable plan or agreement, (i) 100%
of Executive’s outstanding equity and other long-term incentive awards that have remained outstanding for at least twelve (12) months will immediately fully vest upon Executive’s termination, and (ii) all vested equity and other
long-term incentive awards (including those vesting under the preceding clause) granted as SARs or stock options shall be exercisable and remain exercisable for eighteen (18) months following the date of Executive’s termination, but
(x) in no event later than the original term/expiration date of the award; and (y) only during an exercise window permitted under the terms the Corporation’s 2006 EIP (or substantially similar provisions under the successor thereto
under which the applicable award is granted) as may apply prior to the occurrence of an initial public offering. 

  
 8 

	(c)	 Accrued Benefits. Executive shall be entitled to his Accrued Benefits (as defined in Section 11)
that are not duplicative of benefits under this Section 10 or any other Corporation program, policy or agreement. 

  

	(d)	 Exclusive Remedy. In the event of Executive’s Qualifying Retirement Termination, the provisions of
this Section 10 are intended to be and are exclusive and in lieu of any other rights or remedies to which Executive or the Corporation may otherwise be entitled, whether at law, tort or contract, in equity, or under this Agreement. Executive
will be entitled to no other severance, benefits, compensation or other payments or rights upon such a Qualifying Retirement Termination other than those benefits expressly set forth in, this Section 10, Section 13 (if the Qualifying
Retirement Termination also qualifies as a Qualifying CIC Termination) or pursuant to written equity or other long-term incentive award agreements with the Corporation. 

Section 11. Other Terminations Under This Part 

In the event of Executive’s termination by the Corporation or by Executive as a result of his Disability or in the event of Executive’s death,
Executive (or his Severance Beneficiary, as applicable) shall be entitled to the vesting acceleration and SAR/stock option exercise benefits (a) provided in Section 9(c) in the event of such termination or death prior to the fifth
anniversary of the Start Date or (b) provided in Section 10(b) in the event of such death or termination on or after the fifth anniversary of the Start Date. 

In the event of Executive’s termination of employment hereunder for any reason, Executive shall be entitled to the Accrued Benefits that are not
duplicative of any payments or benefits under this Agreement or any other Corporation program, policy or agreement. “Accrued Benefits” shall mean, subject to any applicable plan terms (including, without limitation, any vesting
requirements), all accrued but unpaid compensation, benefits and reimbursements described in Sections 3, 4, 5, 6 and 7 of this Agreement for the period preceding the date of the termination, including in the case of Executive’s death or
termination due to Disability, any Disability or death benefits to which Executive (or his estate or beneficiary(s)) may be entitled thereunder. 
  

			
	THIRD PART:	  	COMPENSATION AND BENEFITS IN CASE OF A TERMINATION WITHOUT CAUSE OR FOR GOOD REASON OCCURRING WITHIN TWO YEARS AFTER A CHANGE IN CONTROL, LIMITATION ON PAYMENTS

 Section 12. Terminations Upon or Following a Change in Control 

This Third Part of the Agreement, consisting of Sections 12 through 14, describes the benefits and compensation, if any, payable in the case of certain
terminations of employment hereunder after a Change in Control (as defined in Section 13(e)) and describes the treatment of certain parachute payments, if any. The Second Part of this Agreement, consisting of Sections 8 through 11, describes
benefits and compensation, if any, payable in case of a termination of employment hereunder to which this Third Part does not apply. If benefits and compensation are payable under this Third Part, then no benefits and compensation are payable under
the Second Part. 
 Section 13. Termination Without Cause or Termination for Good Reason Upon or Following a Change in Control 

In the event that Executive’s employment terminates as a result of a Qualifying CIC Termination (as defined below), then, subject to Sections 15 and 16
and compliance by Executive with his obligations set forth in Section 17, Executive shall be entitled to receive the payments and benefits described in Sections 13(b) and (c) plus the Accrued Benefits. 

  
 9 

	(a)	 Qualifying CIC Termination. A Qualifying CIC Termination occurs if at any time upon or within two
(2) years following a Change in Control: 

  

	 	(1)	 The Corporation terminates Executive’s employment for any reason other than Cause or Disability (as
defined under Sections 1(c) and 1(d)); or 

  

	 	(2)	 Executive resigns for Good Reason (which for purposes of this Third Part shall have the same requirements and
meaning as provided in Section 9(a) above). 

 For avoidance of doubt, termination of Executive’s employment by reason of death
shall not constitute a Qualifying CIC Termination. 
  

	(b)	 Severance Benefits. Following Executive’s Qualifying CIC Termination, Executive shall be entitled
to all of the payments described in Sections 9(b), (d) and (e); provided, however, that the benefits described in Section 9(b) shall instead be paid in a single lump sum upon Executive’s Qualifying CIC Termination. 

 

	(c)	 Equity Vesting. Notwithstanding anything to the contrary in the 2006 EIP (or successor plan) or any
award thereunder, 100% of Executive’s then (i) outstanding equity and other long-term incentive awards will immediately fully vest upon Executive’s Qualifying CIC Termination, and (ii) all vested equity and other long-term
incentive awards (including those vesting under the preceding clause) granted as SARs or stock options shall be exercisable and remain exercisable for eighteen (18) months following the date of Executive’s termination (but in no event
later the original term/expiration date of the award) (but to the extent that the 2006 EIP (or successor plan) and awards granted thereunder apply after such Change in Control in accordance with the terms thereof as in effect prior to such Change in
Control and such Change in Control occurs prior to the occurrence of an initial public offering, only during an exercise window permitted thereunder). Section 9(c) shall govern any such termination following the second anniversary of the Change
in Control. 

  

	(d)	 Exclusive Remedy. In the event of a Qualifying CIC Termination of Executive’s employment with the
Corporation, the provisions of this Section 13 are intended to be and are exclusive and in lieu of any other rights or remedies to which Executive or the Corporation may otherwise be entitled, whether at law, tort or contract, in equity, or
under this Agreement. Executive will be entitled to no other severance, benefits, compensation or other payments or rights upon such a Qualifying CIC Termination other than those benefits expressly set forth in this Section 13 or pursuant to
written equity award agreements with the Corporation. 

  

	(e)	 “Change in Control” means: 

 

	 	(1)	 Any person (as that term is used in Sections 13(d) and Section 14(d) of the Securities Exchange Act of
1934, as amended (the “Exchange Act”)) is or becomes a beneficial owner or acquires, or has acquired beneficial ownership (as that term is used in Section 13(d) of the Exchange Act, and the rules and regulations promulgated
thereunder), of more than 50% (except with respect to an acquisition by the existing stockholders of the Corporation as of the date of this Agreement as “Permitted Transfers” under Section 2.2 (other than
Section 2.2(a)(iv), (v) or (x), or Section 2.2(a)(vii) insofar as to a stockholder thereunder is described in any of Section 2.2(a)(iv), (v) or (x), or Section 2.2(a)(viii) insofar as a partner thereunder is described in any of
2.2(a)(iv), (v), or (x)) of the Stockholders Agreement among the existing stockholders dated as of April 15, 1996) of the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors
(“Voting Securities”) of the Corporation, excluding, however, any acquisition of Voting Securities: (i) directly from the Corporation, other than an acquisition by

  
 10 

	 	
virtue of the exercise of a conversion privilege unless the security being so converted was itself acquired directly from the Corporation, (ii) by the Corporation or a subsidiary of the
Corporation, (iii) by an employee benefit plan (or related trust) sponsored or maintained by the Corporation or entity controlled by the Corporation, or (iv) pursuant to a transaction that complies with clauses (i), (ii) and (iii) of
paragraph (3) below; or 

  

	 	(2)	 Individuals who, as of the Start Date, constitute the Board of Directors (the “Incumbent
Board”) cease for any reason to constitute at least a majority of the Board of Directors, provided that any individual becoming a director subsequent to such Start Date whose election, or nomination for election by the Corporation’s
stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual
whose initial assumption of office is in connection with an actual or threatened election contest relating to the election or removal of the directors of the Corporation or other actual or threatened solicitation of proxies or consents by or on
behalf of a person other than the Board of Directors; or 

  

	 	(3)	 The Corporation shall be merged or consolidated with, or, in any transaction or series of transactions,
substantially all of the business or assets of the Corporation shall be sold or otherwise acquired by, another corporation or entity unless, as a result thereof, (i) the stockholders of the Corporation immediately prior thereto shall
beneficially own, directly or indirectly, at least 60% of the combined Voting Securities of the surviving, resulting or transferee corporation or entity (including, without limitation, a corporation that as a result of such transaction owns the
Corporation or all or substantially all of the Corporation’s assets either directly or through one or more subsidiaries) (“Newco”) immediately thereafter in substantially the same proportions as their ownership immediately
prior to such corporate transaction, (ii) no person beneficially owns (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act, and the rules and regulations promulgated thereunder), directly or indirectly, 30% or more, of the
combined Voting Securities of Newco immediately after such corporate transaction except to the extent that such ownership of the Corporation existed prior to such corporate transaction and (iii) more than 50% of the members of the Board of
Directors of Newco shall be Incumbent Directors; or 

  

	 	(4)	 The stockholders of the Corporation approve a complete liquidation or dissolution of the Corporation.

 Provided, for any amount due to Executive that is a deferral of compensation payable upon the occurrence of a
“Change in Control,” which payment is subject to Section 409A of the Internal Revenue Code (the “Code”) and the final regulations and any guidance promulgated thereunder or any state law equivalent
(“Section 409A”), for the purpose of determining the timing or form of such payment, a “Change in Control” shall not be deemed to occur unless the transaction or transactions satisfy Treasury
Regulation Section 1.409A-3(i)(5). For the avoidance of doubt, the consummation of an initial public offering of the Corporation’s common stock shall not constitute a “Change in
Control” with respect to the Corporation. 
 Section 14. Limitation on Payments 

 

	(a)	 Anything in this Agreement to the contrary notwithstanding, if any payment or benefit Executive would receive
from the Corporation or otherwise (“Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code; and (ii) but for this sentence, be subject to the excise tax
imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall be 

  
 11 

	 	
equal to the Best After-Tax Amount. The “Best After-Tax Amount” shall be either (x) the
largest portion of the Payment that would result in no portion of the Payment being subject to the Excise Tax; or (y) the largest portion, up to and including the total, of the Payment, whichever amount under clauses (x) or (y), after
taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in Executive’s receipt, on an
after-tax basis, of the greater amount of the Payment. Any reduction made pursuant to this Section 14(a) shall be made in accordance with the following order of priority: (i) stock options or stock
appreciation rights whose exercise price exceeds the fair market value of the optioned stock (“Underwater Awards”) (ii) Full Credit Payments (as defined below) that are payable in cash,
(iii) non-cash Full Credit Payments that are then taxable, (iv) non-cash Full Credit Payments that are not then taxable (v) Partial Credit Payments (as
defined below) and (vi) non-cash employee welfare benefits. In each case, reductions shall be made in reverse chronological order such that the payment or benefit owed on the latest date following the
occurrence of the event triggering the Excise Tax will be the first payment or benefit to be reduced (with reductions made pro-rata in the event payments or benefits are owed at the same time). “Full
Credit Payment” means a payment, distribution or benefit, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, that if reduced in value by one dollar reduces the amount of the
parachute payment (as defined in Section 280G of the Code) by one dollar, determined as if such payment, distribution or benefit had been paid or distributed on the date of the event triggering the excise tax. “Partial Credit
Payment” means any payment, distribution or benefit that is not a Full Credit Payment. In no event shall Executive have any discretion with respect to the ordering of payment reductions. Notwithstanding the foregoing, to the extent that the
Corporation submits any payment or benefit payable to Executive under this Agreement or otherwise to the Corporation’s stockholders for approval in accordance with Treasury Regulation
Section 1.280G-1 Q&A 7 and that Executive voluntarily affirmatively waives (in writing) his entitlement to such payment subject to such vote in accordance therewith, the foregoing provisions shall not
apply following such submission and such payments and benefits will be treated in accordance with the results of such vote, except that any reduction in, or waiver of, such payments or benefits required by such vote will be applied without any
application of discretion by Executive and in the order prescribed by this Section 14. 

  

	(b)	 Any determination required under this Section 14 will be made in writing by an independent firm selected
by the Corporation and Executive (the “Firm”), whose determination will be conclusive and binding upon Executive and the Corporation for all purposes. For purposes of making the calculations required by this Section 14, the
Firm may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Corporation and Executive will furnish
to the Firm such information and documents as the Firm may reasonably request in order to make a determination under this Section 14. The Corporation will bear all costs and charges of the Firm in connection with any calculations contemplated
by this Section 14. 

  

			
	FOURTH PART:	  	RELEASE OF CLAIMS, SECTION 409A, CONFIDENTIAL INFORMATION AND CODE OF ETHICS, SEVERABILITY, SUCCESSORS, MISCELLANEOUS PROVISIONS, SIGNATURE PAGE

 Section 15. Release of Claims 
  

	(a)	 Release of Claims. As a condition to the receipt of the payments and benefits described in the Second
Part or Third Part of this Agreement, Executive shall execute a covenant not to sue and release of all claims arising out of Executive’s employment or the termination thereof including, but not limited to, any claim of discrimination under
state or federal law in the form attached hereto as Exhibit B (which 

  
 12 

	 	
shall be updated as necessary at the time of termination to reflect any applicable changes of law) (the “Release”). The Release must become effective no later than the sixtieth
(60th) day following Executive’s termination of employment (the “Release Deadline”), and if not, Executive will forfeit any right to severance payments or benefits under this Agreement. 

To become effective, the Release must be executed by Executive and any revocation periods (as required by statute, regulation, or otherwise)
must have expired without Executive having revoked the Release. In addition, in no event will severance payments or benefits be paid or provided until the Release actually becomes effective. If the termination of employment occurs at a time during
the calendar year where the Release Deadline could occur in the calendar year following the calendar year in which Executive’s separation from service (defined below) occurs, then any severance payments or benefits under this Agreement that
would be considered Deferred Payments (as defined in Section 16(a)) will be paid, or commence to be paid, on the first normal payroll date to occur during the calendar year following the calendar year in which such separation occurs, or such
later time as required by (i) the payment schedule applicable to each payment or benefit as set forth in the Second Part or Third Part of this Agreement, as applicable, (ii) the date the Release becomes effective, or
(iii) Section 16(b); provided that the first payment shall include all amounts that would have been paid to Executive if payment had commenced on the date of Executive’s separation from service. 

Section 16. Section 409A 
  

	(a)	 Notwithstanding anything to the contrary in this Agreement, no severance pay or benefits to be paid or provided
to Executive upon Executive’s termination of employment, if any, pursuant to this Agreement that, when considered together with any other severance payments or separation benefits, are considered deferred compensation not exempt under
Section 409A (together, the “Deferred Payments”) will be paid or otherwise provided until Executive has a “separation from service” within the meaning of Section 409A. And for purposes of this Agreement with
respect to Deferred Payments, any reference to “termination of employment,” “termination” or any similar term shall be construed to mean a “separation from service” within the meaning of Section 409A for purposes
of determining the timing of payment hereunder. Similarly, no severance payable to Executive, if any, pursuant to this Agreement that otherwise would be exempt from Section 409A pursuant to Treasury Regulation
Section 1.409A-1(b)(9) will be payable until Executive has a “separation from service” within the meaning of Section 409A. 

 

	(b)	 Notwithstanding anything to the contrary in this Agreement, if Executive is a “specified employee”
within the meaning of Section 409A at the time of Executive’s separation from service (other than due to death), then the Deferred Payments, if any, that are payable within the first six (6) months following Executive’s
separation from service, will become payable on the first payroll date that occurs on or after the date six (6) months and one (1) day following the date of Executive’s separation from service. All subsequent Deferred Payments, if
any, will be payable in accordance with the payment schedule applicable to each payment or benefit. Notwithstanding anything herein to the contrary, if Executive dies following Executive’s separation from service, but prior to the six
(6) month anniversary of the separation from service, then any payments delayed in accordance with this paragraph will be payable in a lump sum upon Executive’s death and all other Deferred Payments will be payable in accordance with the
payment schedule applicable to each payment or benefit. Each payment, installment and benefit payable under this Agreement or referenced herein is intended to constitute a separate payment for purposes of
Section 1.409A-2(b)(2) of the Treasury Regulations. 

  
 13 

	(c)	 Without limitation, any amount paid under this Agreement that satisfies the requirements of the
“short-term deferral” rule set forth in Section 1.409A-1(b)(4) of the Treasury Regulations is not intended to constitute to Deferred Payments for purposes of clause (a) above.

  

	(d)	 Without limitation, any amount paid under this Agreement that qualifies as a payment made as a result of an
involuntary separation from service pursuant to Section 1.409A- 1 (b)(9)(iii) of the Treasury Regulations that does not exceed the Section 409A Limit is not intended to constitute Deferred Payments for purposes of clause (a) above.
Any payment intended to qualify under this exemption must be made within the allowable time period specified in Section 1.409A-1 (b)(9)(iii) of the Treasury Regulations.
“Section 409A Limit” will mean two (2) times the lesser of: (i) Executive’s annualized compensation based upon the annual rate of pay paid to Executive during Executive’s taxable year preceding
Executive’s taxable year of his separation from service as determined under Treasury Regulation Section 1.409A-1(b)(9)(iii)(A)(1) and any Internal Revenue Service guidance issued with respect
thereto; or (ii) the maximum amount that may be taken into account under a qualified plan pursuant to Code Section 401(a) (17) for the year in which Executive’s separation from service occurred. 

 

	(e)	 To the extent that reimbursements or in-kind benefits under this
Agreement constitute non-exempt “nonqualified deferred compensation” for purposes of Section 409A, (1) all reimbursements hereunder shall be made on or prior to the last day of the calendar
year following the calendar year in which the expense was incurred by Executive, (2) any right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, and
(3) the amount of expenses eligible for reimbursement or in-kind benefits provided in any calendar year shall not in any way affect the expenses eligible for reimbursement or in-kind benefits to be provided, in any other calendar year. 

  

	(f)	 Any tax gross-up that Executive is entitled to receive under this
Agreement or otherwise shall be paid to Executive no later than December 31 of the calendar year following the calendar year in which Executive remits the related taxes. 

 

	(g)	 The foregoing provisions are intended to be exempt from or comply with the requirements of Section 409A so
that none of the severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to be exempt or so comply. The
Corporation and Executive agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition
prior to actual payment to Executive under Section 409A. 

 Section 17. Confidentiality Agreement and Code of Ethics

 Executive agrees to enter into the Corporation’s standard Employee Invention and Confidentiality Agreement (the “Confidential
Information Agreement”)and abide by the Corporation’s Worldwide Code of Business Conduct (the “WCOBC”) upon commencing employment hereunder. Executive’s receipt of any payments or benefits under the Second Part or
Third Part of this Agreement will be subject to Executive continuing to comply with the terms of the Confidential Information Agreement and the WCOBC. 

Section 18. Remedies 
 It is specifically
understood and agreed that any breach of the provisions of Section 17 of this Agreement is likely to result in irreparable injury to the Corporation and/or its respective affiliates and that the remedy at law alone shall be an inadequate remedy
for such breach, and that in addition to any other remedy the Parent or the Corporation may have, the Corporation shall be entitled to enforce the specific performance of this Agreement by Executive and to obtain both temporary and permanent
injunctive relief without the necessity of proving actual damages. 

  
 14 

 Section 19. Severable Provisions 

The provisions of this Agreement are severable and the invalidity of any one or more provisions shall not affect the validity of any other provision. In the
event that a court of competent jurisdiction shall determine that any provision of this Agreement or the application thereof is unenforceable in whole or in part because of the duration or scope thereof, the parties hereby agree that said court in
making such determination shall have the power to reduce the duration and scope of such provision to the extent necessary to make it enforceable and that the Agreement in its reduced form shall be valid and enforceable to the full extent permitted
by law. 
 Section 20. Successors 
  

	(a)	 Corporation’s Successors. This Agreement shall inure to the benefit of and be binding upon any
successor (whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or substantially all of the Corporation’s business and/or assets. 

 

	(b)	 Executive’s Successors. The rights of Executive hereunder to payments and benefits shall inure to
the benefit of, and be enforceable by, Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. For all purposes under this Agreement, in the event of Executive’s
death, any amount otherwise payable to him but for his death (including his death following a Qualifying Termination, Qualifying Retirement Termination or Qualifying CIC Termination) shall be paid to his designated beneficiary or, if none, his
estate (his “Severance Beneficiary”). 

 Section 21.Miscellaneous Provisions 

 

	(a)	 Waiver. No provision of this Agreement shall be modified, waived or discharged unless the modification,
waiver or discharge is agreed to in writing and signed by Executive and by an authorized officer of the Corporation (other than Executive). No waiver by either party of any breach of, or of compliance with, any condition or provision of this
Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 

  

	(b)	 Whole Agreement. This Agreement (including the Schedules and Exhibits hereto), together with the
Confidential Information Agreement and the WCOBC, contains the entire agreement of the parties with respect to the subject matter hereof and it replaces and supersedes any agreements, representations or understandings (whether oral or written and
whether express or implied) that are not expressly set forth in this Agreement that have been made or entered into by either party with respect to the subject matter hereof. 

 

	(c)	 Notice. Notices and all other communications contemplated by this Agreement shall be in writing and
shall be deemed to have been duly given when personally delivered or three (3) business days after mailing by U.S. registered or certified mail, return receipt requested and postage prepaid. In the case of Executive, mailed notices shall be
addressed to Executive at the home address that Executive most recently communicated to the Corporation in writing. In the case of the Corporation, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to
the attention of the office of the General Counsel. 

  
 15 

	(d)	 Choice of Law. The validity, interpretation, construction and performance of this Agreement shall be
governed by the laws of the State of California, irrespective of California’s choice-of-law principles. 

 

	(e)	 No Assignment of Benefits. The rights of any person to payments or benefits under this Agreement shall
not be made subject to option or assignment, either by voluntary or involuntary assignment or by operation of law, including (without limitation) bankruptcy, garnishment, attachment or other creditor’s process, and any action in violation of
this Section 21(e) shall be void. 

  

	(f)	 Employment At Will; Limitation of Remedies. The Corporation and Executive acknowledge that
Executive’s employment is at will, as defined under applicable law. If Executive’s employment terminates for any reason, Executive shall not be entitled to any payments, benefits, damages, awards or compensation other than as provided by
this Agreement. 

  

	(g)	 Employment Taxes. All payments made pursuant to this Agreement shall be subject to withholding of
applicable taxes. 

  

	(h)	 Benefit Coverage Non-Additive. In the event that Executive is
entitled to health plan coverage under more than one provision hereunder, only one provision shall apply, and neither the periods of coverage nor the amounts of benefits shall be additive. 

 

	(i)	 Discharge of Responsibility. The payments under this Agreement, when made in accordance with the terms
of this Agreement, shall fully discharge all responsibilities of the Corporation (and its affiliates) to Executive that existed at the time of termination of Executive’s employment. 

 

	(j)	 Indemnification. To the fullest extent permitted by applicable law, the Articles of Incorporation and
the by-laws of the Corporation (as in effect from time to time), the Corporation shall indemnify and hold harmless Executive for all economic consequences (e.g., damages, settlement, attorneys’ fees and
lost compensation if enjoined) (i) in the event of any action or threatened action by VF Corporation (e.g., breach of fiduciary duty) except with respect to an action or threatened action resulting from Executive’s willful wrongdoing or
gross negligence and (ii) for any acts or decisions made by him in good faith while performing services for the Corporation and its subsidiaries, whether in the capacity of officer, employee, director or employee benefit plan fiduciary;
provided, in each case, that the Corporation shall not be liable or responsible to indemnify Executive hereunder for the economic consequences relating to Executive’s breach of Executive’s representation made in the last sentence of
Section 2(b) hereof. 

  

	(k)	 No Mitigation. Executive shall not be required to mitigate the amount of any payment or benefit
contemplated by this Agreement, nor shall any such payment or benefit be reduced by any earnings or benefits that Executive may receive from any other source. 

 

	(l)	 Inconsistency. In the event of any inconsistency between this Agreement (including the Schedules and
Exhibits hereto) and any other plan, program, policy, practice or agreement in which Executive is a participant or a party, this Agreement shall control unless such other plan, program, practice and agreement supersedes this Agreement by specific
reference to this paragraph 21(l). 

 [Signature Page Follows] 

  
 16 

 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Corporation
by a duly authorized officer, as of the day and year first above written. Executive has consulted (or has had the opportunity to consult) with his own counsel (who is other than the Corporation’s counsel) prior to execution of this Agreement.

  

			
	CHARLES V. BERGH
	
	 /s/ Charles V. Bergh

	LEVI STRAUSS & CO.
		
	By	 	 /s/ Pat Pineda

	Its	 	 Human Resources Committee Chairperson

  
 17 

 SCHEDULE A 

Method for Determination of Long Term Incentive Grant Size 

A. Methodology: 
  

	1)	 Fair Market Value of a share of common stock to be determined by Evercore independent valuation (or other
reputable third-party valuation firm), including illiquidity discount. 

 Semi-annual appraisal to be determinative of each
grant (currently, June 30, 2011 and December 31, 2011, respectively). 
 No Board of Directors discretion over valuation that is
adverse to Executive 
  

	2)	 Black-Scholes multiple determined in accordance with the grant date methodology used by the Corporation for
purposes of expensing the SAR in connection with its publicly-reported annual audited financial statements for such fiscal year. 

  

	3)	 Number of SARs to be granted, per grant, equals [$X] ÷ [FMV of a share of common stock on the date of
grant (with illiquidity discount applied) x Black-Scholes multiple expressed as a percentage]. “$X” is the grant date value of the SAR award (e.g., $4,900,000 in the case of the Initial SAR Award). 

 

	4)	 Number of full-value awards to be granted (if any), per grant, equals $X ÷ FMV of a share of common
stock on the date of grant (with illiquidity discount applied). 

  

	5)	 Round up to next share covered by the applicable award. 

B. Example (for illustrative purposes only): 
  

					
	 1) Undiscounted value of one share of common stock set forth in the third-party
valuation:
	  	 	$A	 
	 2) Illiquidity discount set forth in the third-party valuation:
	  	 	B%	 
	 3) Fair market value of one share of common stock:
	  	 
 
 
	$44.50 [Represents
 $A multiplied by

(100%-B%)]
	 
  
  

	 4) Black-Scholes multiple:
	  	 	37.00%	 
	 5) Black-Scholes value of one SAR:
	  	 	$16.465	 
	 6) Minimum value of SAR grant:
	  	 	$4,900,000	 
	 7) Number of SARs to be granted ($4,900,000 / $16.465):
	  	 	297,601	 

  
 18 

 SCHEDULE B 
  

	 	•	 	 All relocation benefits have a 6 month time limit of eligibility from the date of initiation.

  

	 	•	 	 All transferees will be required to sign a payback agreement prior to the relocation start.

  

			
	 POLICY AREA
	  	 LEVEL A
HOMEOWNER

		
	Househunting	  	7 day trip paid as a lump sum and tax protected.
		
	Temporary Living	  	Up to 60 days paid for lodging at new location. Employee must have a “dual” living situation. Paid as a lump sum and tax protected.
		
	Final Move Costs	  	Airfare cost. Non taxable.
		
	Shipment of Household Goods	  	A moving company is assigned to ship household goods and up to 2 cars from the old to the new location at company cost. Non taxable.
		
	Miscellaneous Expense Allowance	  	An allowance equivalent to 2 weeks of your new salary to cover incidentals at new location. Taxable/not tax protected.
		
	Destination Services	  	A full and comprehensive orientation to new community; includes real estate referral and mortgage counseling. Tax protected.
		
	Spouse/Partner Employment Assistance Program	  	A program to help spouse/partner find employment at new location. Tax protected.
		
	Home Purchase Assistance	  	Coverage of all one time purchase closing costs. Must be a pre-existing homeowner. Tax protected.
		
	Other Incentives	  	Cash incentive to employee if home is sold within the 90 day marketing period. Taxable/not tax protected.
		
	Buyer Value Option Program	  	Market home for first 90 days through the Marketing Assistance Program and close through 3rd party company. Non taxable event.
		
	Cost of Living Allowance	  	If deemed to be a 20% minimum cost of living differential between old and new location. Payment capped at $50,000 gross. Differential times old salary is the allowance paid. Taxable/not tax protected.
		
	Loan Subsidy Program	  	A dollar driven subsidy capped at $30,000 to cover interest payments. Applied through approved lender list. Taxable/Tax protected FICA only.

  
 19 

			
	 POLICY AREA
	  	 LEVEL A
HOMEOWNER

	Tax Assistance	  	LS&CO pays tax liability on all taxable relocation expenses that are tax protected.

  
 20 

 EXHIBIT A 

LEVI STRAUSS & CO. 

2006 EQUITY INCENTIVE PLAN 

STOCK APPRECIATION RIGHT GRANT NOTICE 

Levi Strauss & Co. (the “Company”), pursuant to its 2006 Equity Incentive Plan (the “Plan”), hereby
grants to Participant a Stock Appreciation Right covering the number of Common Stock equivalents (the “Stock Appreciation Rights”) set forth below (the “Award”). This Award is evidenced by a Stock
Appreciation Right Agreement (the “Award Agreement”). The Award is subject to all of the terms and conditions as set forth herein and in the Award Agreement, the Plan, and the Notice of Exercise, all of which are attached
hereto and incorporated herein in their entirety. 
  

			
	 Participant:
	  	Charles V. Bergh
	 Date of Grant:
	  	  

	 Vesting Commencement Date:
	  	  

	 Number of Stock Appreciation Rights:
	  	[Per Schedule A of Employment Agreement]
	 Strike Price (Per Stock Appreciation Right):
	  	  

	 Expiration Date:
	  	[Insert date (7 years from date of grant)

  

			
	Vesting Schedule:	 	25% of the shares subject to the Award shall vest on the first anniversary of the Vesting Commencement Date, and 1/48th of the shares subject to the Award shall vest each month thereafter on the same calendar day of the month as the
Vesting Commencement Date (and if there is no corresponding day, on the last day of the month), subject to Participant’s Continuous Service through each such vesting date, except as set forth herein.
		
		 	Notwithstanding the foregoing and anything contrary in the Plan, if Participant’s Continuous Service terminates due to (i) termination by the Company without “Cause”, (ii) Participant’s resignation for
“Good Reason”, (iii) termination by the Company as a result of Participant’s “Disability” or (iv) Participant’s death, then the unvested portion of the Award that would have vested during the twenty-four
(24) months following the date of termination had his employment not so terminated, will immediately vest upon such termination.
		
		 	Alternatively, if at any time upon or within two (2) years following a “Change in Control”, Participant’s Continuous Service terminates due to (i) termination by the Company for any reason other than for (x)
“Cause”, (y) death or (z) “Disability”, or (ii) Participant’s resignation for “Good Reason”, then the Award will fully and immediately vest upon such termination. For the avoidance of doubt, if Participant is
entitled to receive vesting acceleration pursuant to this paragraph, then this paragraph will apply and not the immediately preceding paragraph above.
		
		 	Alternatively, if (i) at any time after the fifth anniversary of Participant’s Start Date (as defined in Participant’s Employment Agreement with the Company, dated
[                    ], 2011 (the “Employment Agreement”)), Participant’s Continuous Service terminates due to Participant’s
resignation for any reason other than in connection with an impending termination for “Cause” by the Company and (ii) provided at least twelve (12) months have lapsed since the

  
 1. 

			
		 	Date of Grant, then the Award will fully and immediately vest upon such termination. For the avoidance of doubt, if Participant is entitled to receive vesting acceleration pursuant to this paragraph, then this paragraph will apply
and not the immediately preceding paragraphs above.
		
		 	For purposes of the foregoing Vesting Schedule, “Cause”, “Disability”, “Good Reason” and “Change in Control” shall have the meaning defined in the Employment Agreement.

 Additional Terms/Acknowledgements: The undersigned Participant acknowledges receipt of, and understands and agrees to,
this Stock Appreciation Right Grant Notice, the Award Agreement, and the Plan. Participant further acknowledges that as of the Date of Grant, this Stock Appreciation Right Grant Notice, the Award Agreement, and the Plan set forth the entire
understanding between Participant and the Company regarding the award of the Stock Appreciation Rights and supersede all prior oral and written agreements on that subject with the exception of (i) awards previously granted and delivered to
Participant under the Plan, and (ii) the following agreements only: 
  

			
	 OTHER AGREEMENTS:
	 	
                          
                                      

                          
                                      

  

			
	LEVI STRAUSS & CO.	  	PARTICIPANT:
		
	By:
                                         
                                       	  	                                      
                                         
       
	                                      
  Signature	  	                                    
Signature
		
	Title: SVP Worldwide Human Resources	  	Date:
                                         
                                   
		
	Date:
                                         
                                       	  	

  
 2 

 LEVI STRAUSS & CO. 

2006 EQUITY INCENTIVE PLAN 

STOCK APPRECIATION RIGHT AGREEMENT 

Pursuant to your Stock Appreciation Right Grant Notice (“Grant Notice”) and this Stock Appreciation Right Agreement
(the “Award Agreement”), Levi Strauss & Co. (the “Company”) has granted you a Stock Appreciation Right under its 2006 Equity Incentive Plan (the “Plan”) covering the
number of Common Stock equivalents (“Stock Appreciation Rights”) as indicated in your Grant Notice (collectively, the “Award”). Defined terms not explicitly defined in this Award Agreement but defined
in the Plan shall have the same definitions as in the Plan. 
 The details of your Award are as follows: 

1. VESTING. Subject to the conditions and limitations contained herein, your Award shall vest as
provided in your Grant Notice, provided that vesting shall cease upon the termination of your Continuous Service. 
 2.
NUMBER OF SHARES AND STRIKE PRICE. The number of Common Stock equivalents subject to your Award and your strike price per share are
set forth in your Grant Notice and may be adjusted from time to time for Capitalization Adjustments. 
 3.
CALCULATION OF APPRECIATION. The amount payable upon exercise of each vested Award shall be equal to the excess of (i) the Fair Market Value per share of Common Stock on the
date of exercise, over (ii) the Fair Market Value per share of Common Stock on the date of grant of the Award (as indicated in your Grant Notice). 

4. PAYMENT. Subject to Section 12, the amount payable upon exercise of your Award shall be
settled in whole shares of Common Stock rounded down to the nearest whole share based on the Fair Market Value of such shares at the time of exercise. 

5. TERM. You may not exercise your Award before the commencement or after the expiration of its
term. The term of your Award commences on the Date of Grant and expires upon the earliest of the following, as applies: 
 (a)
immediately upon the termination of your Continuous Service for Cause; 
 (b) three (3) months after the termination of your
Continuous Service for any reason other than the reasons set for in Section 5(a), (c), (d) and (e) of this Award Agreement; provided, however, (i) that if during any part of such three (3) month period your Award is not
exercisable solely because of a condition set forth in Section 6, your Award shall not expire until the earlier of (A) the Expiration Date, or (B) the date it shall have been exercisable for an aggregate period of three
(3) months after the termination of your Continuous Service, and (ii) that prior to an IPO Date, the provisions of Section 8(a) of the Plan will have the effect of either limiting or extending the period during which exercise is
permitted, depending upon the date on which the termination of your Continuous Services occurs; 
 (c) eighteen (18) months after
the termination of your Continuous Service due to your Retirement; provided, however, that prior to an IPO Date, the provisions of Section 8(a) of the Plan will have the effect of limiting the period during which exercise is permitted;

  
 3 

 (d) eighteen (18) months after the termination of your Continuous Service due to
your termination (i) by the Company without “Cause”, (ii) by the Company or you for “Disability”, or (iii) by you for “Good Reason” as such terms are defined in your Employment Agreement with the Company,
dated [                    ], 2011; provided, however, that prior to an IPO Date, the provisions of Section 8(a) of the Plan will have
the effect of limiting the period during which exercise is permitted; 
 (e) eighteen (18) months after your death if you die
either during your Continuous Service or within three (3) months after your Continuous Service terminates; provided, however, that prior to an IPO Date, the provisions of Section 8(a) of the Plan will have the effect of limiting the period
during which exercise is permitted; 
 (f) the Expiration Date indicated in your Grant Notice; or 

(g) the day before the tenth (10th) anniversary of the Date of Grant. 

For the avoidance of doubt, any termination of your Continuous Service in which you were eligible for Retirement, irrespective of the actual basis for your
termination (except if due to Cause or an impending termination for Cause), will be deemed a termination of Continuous Service due to Retirement governed by Section 5(c). 

6. SECURITIES LAW COMPLIANCE. Notwithstanding anything to the
contrary contained herein, you may not exercise your Award unless either (i) the shares of Common Stock issuable upon such exercise are then registered under the Securities Act, or (ii) the Company has determined that such exercise and
issuance would be exempt from the registration requirements of the Securities Act. The exercise of your Award also must comply with other applicable laws and regulations governing your Award, and you may not exercise your Award if the Company
determines that such exercise would not be in material compliance with such laws and regulations. 
 7. EXERCISE. 

(a) You may exercise the vested portion of your Award during its term by delivering a Notice of Exercise to the Secretary of the
Company, or to such other person as the Company may designate, during regular business hours, together with such additional documents as the Company may then require. The exercise date shall be the business day on which your signed Notice of
Exercise is received by the Company. If the Notice of Exercise is received after normal business hours for a given day, then the exercise date shall be considered to be the following business day. Notwithstanding the foregoing, prior to an IPO Date,
you may exercise a vested Award only during the period or periods and subject to the further conditions set forth in Section 8(a) of the Plan. 

(b) As a condition of exercise of the vested portion of your Award for shares of Common Stock, you will be required to enter into the
Stockholders’ Agreement (or any successor to that agreement) and the Voting Trust Agreement (or any successor to that agreement), and such other agreements as the Company may require pursuant to Section 8(f) of the Plan. 

(c) By exercising your Award you agree that you shall not sell, dispose of, transfer, make any short sale of, grant any option for the
purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any shares of Common Stock or other securities of the Company held by you, for a period of time specified by the managing underwriter(s) (not to
exceed one hundred eighty (180) days) following the effective date of a registration statement of the Company filed under the Securities Act (the “Lock Up Period”) in connection with an initial public offering of Common
Stock, if any; provided, however, that nothing contained in this section shall prevent the exercise of a repurchase 

  
 4 

 
right, if any, in favor of the Company during the Lock Up Period. You further agree to execute and deliver such other agreements as may be reasonably requested by the Company and/or the
underwriter(s) that are consistent with the foregoing or that are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to your shares of Common Stock
until the end of such period. The underwriters of the Company’s stock are intended third party beneficiaries of this Section 7(c) and shall have the right, power and authority to enforce the provisions hereof as though they were a party
hereto. 
 8. TRANSFERABILITY. Your Award is not transferable, except by will or by the laws of
descent and distribution, and is exercisable during your life only by you. Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you may designate a third party who, in the event of your
death, shall thereafter be entitled to exercise your Award. 
 9. PUT RIGHT. Prior
to an IPO Date, you, pursuant to the provisions of Section 8 of the Plan, shall have the right, but not the obligation, to require the Company to repurchase any or all of the shares of Common Stock acquired pursuant to the exercise of your
Award. 
 10. CALL RIGHT. Upon and after any termination of your Continuous
Service but prior to an IPO Date, the Company, pursuant to the provisions of Section 8 of the Plan, shall have the right, but not the obligation, to repurchase all of the shares of Common Stock theretofore or thereafter acquired pursuant to the
exercise of your Award. 
 11. AWARD NOT A SERVICE
CONTRACT. Your Award is not an employment or service contract, and nothing in your Award shall be deemed to create in any way whatsoever any obligation on your part to continue in the employ of the Company or any
Affiliate, or of the Company or an Affiliate to continue your employment or service. In addition, nothing in your Award shall obligate the Company or an Affiliate, their respective stockholders, Boards of Directors, officers or employees to continue
any relationship that you might have as a Director or Consultant for the Company or any Affiliate. 
 12. WITHHOLDING
OBLIGATIONS. 
 (a) At the time you exercise your Award, in whole or in part, or at any time thereafter as
requested by the Company, you hereby authorize withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for, any sums required to satisfy the federal, state, local and foreign tax withholding
obligations of the Company or an Affiliate, if any, which arise in connection with the exercise of your Award. 
 (b) Upon your
request and subject to approval by the Company, in its sole discretion, and compliance with any applicable legal conditions or restrictions, the Company may withhold from shares of Common Stock otherwise issuable to you upon the exercise of your
Award a number of whole shares of Common Stock having a Fair Market Value, determined by the Company as of the date of exercise, not in excess of the minimum amount of tax required to be withheld by law (or such lesser amount as may be necessary to
avoid variable award accounting). 
 (c) You may not exercise your Award unless the tax withholding obligations of the Company and/or
any Affiliate are satisfied. Accordingly, you may not be able to exercise your Award when desired even though your Award is vested, and the Company shall have no obligation to issue a certificate for such shares of Common Stock or release such
shares of Common Stock from any escrow provided for herein unless such obligations are satisfied. 

  
 5 

 13. PERSONAL DATA. You understand
that your employer, the Company, or an Affiliate hold certain personal information about you, including but not limited to your name, home address, telephone number, date of birth, national social insurance number, salary, nationality, job title,
and details of all shares of Common Stock granted, cancelled, vested, unvested, or outstanding (the “Personal Data”). Certain Personal Data may also constitute “Sensitive Personal Data” within the
meaning of applicable local law. Such data include but are not limited to Personal Data and any changes thereto, and other appropriate personal and financial data about you. You hereby provide express consent to the Company or an Affiliate to
process any such Personal Data and Sensitive Personal Data. You also hereby provide express consent to the Company and/or an Affiliate to transfer any such Personal Data and Sensitive Personal Data outside the country in which you are employed or
retained, including the United States. The legal persons for whom such Personal Data are intended are the Company and any broker company providing services to the Company in connection with the administration of the Plan. You have been informed of
your right to access and correct your Personal Data by applying to the Company representative identified on the Grant Notice. 
 14.
ADDITIONAL AGREEMENTS AND ACKNOWLEDGEMENTS. You hereby agree and acknowledge that: 

(a) The rights and obligations of the Company with respect to your Award shall be transferable to any one or more persons or entities,
and all covenants and agreements hereunder shall inure to the benefit of, and be enforceable by the Company’s successors and assigns. 

(b) You agree upon request to execute any further documents or instruments necessary or desirable in the sole determination of the
Company to carry out the purposes or intent of your Award. 
 (c) You have reviewed your Award in its entirety, have had an
opportunity to obtain the advice of counsel prior to executing and accepting your Award and fully understand all provisions of your Award. 

(d) You will not question or contest in any way, whether pursuant to legal proceedings or otherwise, the Board’s determination of
the Fair Market Value of Common Stock, whether for purposes of determining the strike price of your Award, the number of shares of Common Stock payable on exercise of your Award, or the amount payable on exercise of your put right or the
Company’s call right pursuant to Section 8 of the Plan. 
 (e) You will not question or contest in any way, whether pursuant
to legal proceedings or otherwise, the Company’s determination, pursuant to Section 8(e) of the Plan, to (i) reject, in whole or in part, your exercise of a put right or (ii) not exercise, in whole or in part, the Company’s
call right. 
 (f) This Agreement shall be subject to all applicable laws, rules, and regulations, and to such approvals by any
governmental agencies or national securities exchanges as may be required. 
 (g) All obligations of the Company under the Plan and
this Agreement shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets
of the Company. 
 (h) Participation in the Plan is voluntary, and therefore, you must accept the terms and conditions of the Plan and
this Award as a condition to participate in the Plan and receive this Award. 
 (i) The Plan is discretionary in nature and the
Company can amend, cancel, or terminate it at any time. Section 3(b)(v) of the Plan to the contrary notwithstanding, this Award shall not be terminated or canceled without payment to you except to the extent the Award fails to vest or is
forfeited, expires or otherwise terminates in accordance with its terms. 

  
 6 

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

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

(l) The value of the shares of Common Stock and this Award is an extraordinary item of compensation, which is outside the scope of your
employment or service contract, if any. 
 (m) The shares of Common Stock, this Award, or any income derived therefrom are a potential
bonus payment not paid in lieu of any cash salary compensation and not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any termination, severance, resignation, redundancy, end of service
payments, bonuses, long-service awards, life or accident insurance benefits, pension or retirement benefits or similar payments. 
 (n)
In the event of the termination of your Continuous Service, your eligibility to receive shares of Common Stock or payments under this Award or the Plan, if any, will terminate effective as of the date that you are no longer actively employed or
retained regardless of any reasonable notice period mandated under local law, except as expressly provided in this Award. 
 (o) In
the event of the termination of your Continuous Service for Cause, the Company, in its sole discretion, may rescind any transfer of Common Stock to you that occurred within six (6) months prior to such termination of Continuous Service or
demand that you pay over to the Company the proceeds received by you upon the sale, transfer or other transaction involving the Common Stock in such manner and on such terms and conditions as the Company may require, and the Company shall be
entitled to set-off against the amount of such proceeds any amount you owe to the Company to the fullest extent permitted by law. 

(p) The future value of the shares of Common Stock is unknown and cannot be predicted with certainty. 

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

(s) Anything in the Plan to the contrary notwithstanding, in the event any extraordinary cash dividend is made to stockholders, the
Board shall equitably adjust the exercise price of this Award to reflect any material decrease in the fair market value of a share of the Company’s Common Stock resulting from such extraordinary dividend, to the extent permissible without
causing the Award to be a “deferral of compensation” under Section 409A of the Internal Revenue Code, and to the extent not so permissible the Company shall grant you such other award (including restricted stock units) or compensation
as shall be equitable to compensate you for such decrease in value, as determined by the Company. 

  
 7 

 15. NOTICES. Any notices provided for in your
Award or the Plan shall be given in writing and shall be deemed effectively given upon receipt or, in the case of notices delivered by mail by the Company to you, five (5) days after deposit in the United States mail, postage prepaid, addressed
to you at the last address you provided to the Company. 
 16. HEADINGS. The headings of the
Sections in this Agreement are inserted for convenience only and shall not be deemed to constitute a part of this Agreement or to affect the meaning of this Agreement. 

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

18. GOVERNING PLAN DOCUMENT. Your Award is subject to all the
provisions of the Plan, the provisions of which are hereby made a part of your Award, and is further subject to all interpretations, amendments, rules and regulations, which may from time to time be promulgated and adopted pursuant to the Plan. In
the event of any conflict between the provisions of your Award and those of the Plan, the provisions of the Plan shall control. 

  
 8 

 ATTACHMENT II 

2006 EQUITY INCENTIVE PLAN 

(SEE TAB A FOR 2006 EQUITY INCENTIVE PLAN
DOCUMENT) 

 NOTICE OF EXERCISE 

 

					
	 Levi Strauss & Co.
 1155 Battery
St.
 San Francisco, CA 94111
	 		  	Date of Exercise:                             

 Ladies and Gentlemen: 

This constitutes notice that I elect to exercise my Stock Appreciation Right. 

 

			
	 Stock appreciation right dated:
	 	 
		
	 Number of Common Stock equivalents as to which stock appreciation right is exercised:
	 	 
		
	 Certificates to be issued in name of:
	 	 

 By this exercise, I agree (i) to provide such additional documents as you may require pursuant to the
terms of the Levi Strauss & Co. 2006 Equity Incentive Plan, and (ii) to provide for the payment by me to you (in the manner designated by you) of your withholding obligation, if any, relating to the exercise of this stock appreciation
right. 
  

	
	Very truly yours,
	 

 EXHIBIT B 

LEVI STRAUSS & CO. 

EXECUTIVE SEVERANCE PLAN 

GENERAL RELEASE AGREEMENT 

In accordance with Section 15 of your Employment Agreement with Levi Strauss & Co.
dated            , 2011 (“Employment Agreement”), you must agree to sign and not later revoke this General Release Agreement (“Agreement”). 

You and Levi Strauss & Co. (“LS&CO.”) hereby agree as follows: 

1. Generally. If you sign this General Release Agreement in accordance with Section 15 of the Employment Agreement, and all
applicable revocation periods have expired, you will receive satisfy the requirement thereof. 
 2. General Release. 

 

	 	a.	 In consideration for the payments, benefits and other rights under Section 9, Section 10 or
Section 13 of the Employment Agreement (“Separation Benefits”), as applies, you, on your own behalf and on behalf of your heirs, executors, administrators, attorneys and assigns, hereby unconditionally and irrevocably release,
waive and forever discharge LS&CO. and its predecessors, successors, assigns, subsidiaries, related entities, officers, directors, voting trustees, shareholders, employees, agents, attorneys and insurers (collectively referred to as the
“Company”) from any and all claims, suits, actions, causes of action, demands, rights, damages, costs, expenses, attorney’s fees, and compensation in any form whatsoever, whether now known or unknown, which you have or may have
(up through and including the date on which you sign this Agreement) against the Company on account of or in any way related to your employment by the Company or your separation therefrom, including but not limited to any and all claims for damages
or injury, claims for wages, employment benefits, tort claims, and claims under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Civil Rights Act of 1866, the Age Discrimination in Employment Act of 1967
(“ADEA”), the Employee Retirement Income Security Act of 1974, the National Labor Relations Act, the Fair Labor Standards Act, the Rehabilitation Act of 1973, the Family and Medical Leave Act of 1993, the Americans with Disabilities
Act of 1990, and under any other federal, state or local law, statute (including but not limited to, the California Fair Employment & Housing Act or the California Labor Code), ordinance, guideline, regulation, order or common-law principle relating to employment, employment contracts, wrongful discharge or any other matter. 

  

	 	b.	 Notwithstanding the above General Release of all claims, you are not waiving or releasing: (i) claims for
workers’ compensation; (ii) claims for medical conditions caused by exposure to hazards during your employment of which you were not aware before or at the time you sign this Agreement; (iii) claims arising after the date on which you
sign this Agreement; (iv) claims for vested or accrued benefits under a Company’s employee benefit plan; (v) your right to file a charge with the Equal Employment Opportunity Commission (“EEOC”) or to participate in
an EEOC investigation, (vi) all Separation Benefits, in consideration of your general release of claims hereunder, (vii) your right to indemnification and coverage as an insured under any contract of officers and directors liability
insurance pursuant to Section 21(j) of the Employment Agreement or (viii) your rights as a stockholder of LS&CO. You are, however, waiving all rights to recover money or other individual relief in connection with any EEOC charge or
investigation. 

  
 1. 

 3. California Based Employees. You also waive, release and promise never to assert
any rights and benefits afforded by Section 1542 of the California Civil Code and any similar law of any state or territory of the United States and do so understanding and acknowledging the significance and consequences of such specific waiver
of said provisions of law. Section 1542 of the California Civil Code states as follows: 
 “A General Release does not extend to
claims which the Creditor does not know or suspect to exist in his or her favor at the time of executing the General Release, which, if known to him or her must have materially affected his or her settlement with the Debtor.” 

4. Covenant Not to Sue. A “covenant not to sue” is a legal term which means you promise not to file a lawsuit in court. It is
different from the General Release of claims contained in Section 1 above. Besides waiving and releasing the claims covered by Section 1, you further promise and represent that: (a) you have no pending lawsuits against the Company
with any municipal, state, or federal court or non-governmental entity; and (b) you will not sue the Company for any reason whatsoever relating to anything that has happened through the date of this
General Release Agreement and released hereby. However, this promise not to sue does not preclude you from bringing a lawsuit to challenge the enforceability of this General Release Agreement under the ADEA. 

5. No Admission. The parties acknowledge and agree that this General Release Agreement does not constitute, is not intended to be, and
shall not be construed, interpreted or treated in any respect as, an admission of liability or wrongdoing by either party for any purpose whatsoever. Further, each party acknowledges and agrees that there has been no determination that either party
has violated any federal, state or local law, regulation, order or other legal principle or authority. You further acknowledge that no precedent, practice, policy or usage shall be established by this General Release Agreement or the amounts,
benefits and rights due you under the Employment Agreement. 
 6. Consequences of Other Breach. You affirm that all non-compete, non-solicitation, confidential information (including as set forth at Section 17 of the Employment Agreement) and cooperation/non disparagement covenants
applicable to you immediately prior to your termination of employment shall apply following your termination in accordance with the terms thereof. 

7. Time To Consider Agreement. You acknowledge that you have been given at least 21 days to thoroughly consider this General Release
Agreement. 
 8. Attorney Consultation. You acknowledge that you have been advised in writing to consult with an attorney at your own
expense, if desired, prior to signing this General Release Agreement. 
 9. Time To Revoke Agreement. You understand that you may
revoke this General Release Agreement within seven (7) days after its signing and that any revocation must be made in writing and submitted within such seven day period by registered mail, return receipt requested, to Senior Vice President of
Human Resources, Levi Strauss & Co., 1155 Battery Street, San Francisco, CA 94111. You further understand that if you revoke this General Release Agreement, you shall not receive the Separation Benefits otherwise due you. 

10. Consideration For Agreement. You also understand that the Separation Benefits which you will receive in exchange for signing and not
later revoking this General Release Agreement are in addition to anything of value to which you already are entitled. 

  
 2 

 11. Release Of Unknown Claims. YOU FURTHER UNDERSTAND THAT THIS GENERAL RELEASE
AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS TO DATE. 
 12. Severability. You acknowledge and agree that if any
provision of this General Release Agreement (other than the Company’s obligation to provide the Separation Benefits and Section 2(b)(vii) and (viii) hereof) is found, held or deemed by a court of competent jurisdiction to be void,
unlawful or unenforceable under any applicable statute or controlling law, the remainder of this General Release Agreement shall continue in full force and effect. 

13. Governing Law. This General Release Agreement in all respects shall be interpreted, enforced and governed under applicable federal
law and in the event reference shall be made to State law, the internal laws of the State in which the Executive resides on his or her termination date will apply. 

14. Acknowledgement. You further acknowledge and agree that you have carefully read and fully understand all of the provisions of this
General Release Agreement and that you voluntarily enter into this General Release Agreement by signing below. 
 [signature page follows]

  
 3 

 
	
	  
 Charles V. Bergh

  

	
	  

(Date)

 PLEASE RETURN TO: 
  

                          
                                       

                          
                                       

                          
                                       

[Insert Name, Title and Address] 

  
 4

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