Common use of VF Participants Clause in Contracts

VF Participants. Effective as of the Distribution Date, each VF PSU that was granted in 2017 and is outstanding immediately prior to the Distribution Date shall be adjusted to reflect the Distribution and become an Adjusted VF PSU. The number of shares of VF Common Stock subject to such Adjusted VF PSU shall be determined by the VF Compensation Committee in a manner intended to preserve without enlarging the value of such VF PSU by taking into account the relative values of the VF Pre-Distribution Stock Value and the VF Post-Distribution Stock Value. Each such Adjusted VF PSU shall be subject to the Table of Contents same terms and conditions (including vesting and payment schedules) as applicable to the corresponding VF PSU as of immediately prior to the Distribution Date.

VF Participants. Effective as of the Distribution Date, each VF PSU RSU that was granted in 2017 and is outstanding immediately prior to the Distribution Date and held by a VF Participant shall be adjusted to reflect the Distribution and become an Adjusted VF PSURSU. The number of shares of VF Common Stock subject to such Adjusted VF PSU RSU shall be determined by the VF Compensation Committee in a manner intended to preserve without enlarging the value of such VF PSU RSU by taking into account the relative values of the VF Pre-Distribution Stock Value and the VF Post-Distribution Stock Value. Each such Adjusted VF PSU RSU shall be subject to the Table of Contents same terms and conditions (including vesting and payment schedules) as applicable to the corresponding VF PSU RSU as of immediately prior to the Distribution Date.