The stay is held in with a partial vertical sleeve on each side and little sleeves for the tips at the bottom. The top is held in with a velcro flap. I'm not sure if I am explaining it very well. It is about the same length as the pack but doesn't go out to the edges. I don't know where the "V" name comes from because it is does not look anything like a V to me. I'll try to post some pictures later.