EX-10.7



 Exhibit 10.7 
 BLACKHAWK NETWORK HOLDINGS, INC. 
 2013 EQUITY INCENTIVE AWARD PLAN

 STOCK OPTION GRANT NOTICE 
 Blackhawk Network Holdings, Inc., a Delaware corporation (the “Company”), pursuant to its 2013 Equity Incentive Award Plan (as may be amended from time to time, the
“Plan”), hereby grants to the individual listed below (the “Optionee”), an option to purchase the number of shares of Common stock, par value $0.001 per share, of the Company (the
“Shares”), set forth below (the “Option”). This Option is subject to all of the terms and conditions set forth herein and in the Stock Option Agreement attached hereto as Exhibit A (the
“Agreement”) and the Plan, each of which is incorporated herein by reference. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Stock Option Grant Notice (the
“Grant Notice”) and the Agreement. 
  

			
	Optionee:	 	[                    ]
		
	Grant Date:	 	[                    ]
		
	Vesting Commencement Date:	 	[                    ]
		
	Exercise Price per Share:	 	$[                    ] /Share
		
	Total Number of Shares Subject to the Option:	 	[                    ] Shares
		
	Expiration Date:	 	[                    ]
		
	Vesting Schedule:	 	[                    ]
		
	Termination:	 	The Option shall terminate on the Expiration Date set forth above or, if earlier, in accordance with the terms of the Agreement

 Type of Option:          ̈
    Incentive Stock Option          ̈     Non-Qualified Stock Option 

By his or her signature below, the Optionee agrees to be bound by the terms and conditions of the Plan, the Agreement and this Grant
Notice. The Optionee has reviewed the Agreement, the Plan and this Grant Notice in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of this Grant Notice,
the Agreement and the Plan. The Optionee hereby agrees to accept as binding, conclusive and final all decisions and/or interpretations of the Administrator upon any questions arising under the Plan or relating to the Option. If the Optionee is
married, his or her spouse has signed the Consent of Spouse attached to this Grant Notice as Exhibit B 
  

							
	BLACKHAWK NETWORK HOLDINGS, INC.	  	OPTIONEE
				
	By:	 	  
	  	By:	 	  

	Print Name:	 	  
	  	Print Name:	 	  

	Title:	 	  
	  		 	
	Address:	 	  
	  	Address:	 	  

		 		  	Email:	 	  









 EXHIBIT A 
 TO STOCK OPTION GRANT NOTICE 
 STOCK OPTION AGREEMENT 

Pursuant to the Stock Option Grant Notice (the “Grant Notice”) to which this Stock Option Agreement (this
“Agreement”) is attached, Blackhawk Network Holdings, Inc., a Delaware corporation (the “Company”), has granted to the Optionee an option (the “Option”) under the Company’s
2013 Equity Incentive Award Plan (as amended from time to time, the “Plan”) to purchase the number of Shares indicated in the Grant Notice. Capitalized terms not specifically defined herein shall have the meanings specified
in the Plan and the Grant Notice. 
 ARTICLE I. 
 GENERAL 
 1.1 Incorporation of Terms of Plan. The Option is subject
to the terms and conditions of the Plan, which are incorporated herein by reference. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan shall control. 

ARTICLE II. 
 GRANT OF OPTION 
 2.1 Grant of Option. In consideration of the
Optionee’s past and/or continued employment with or service to the Company or any Affiliate and for other good and valuable consideration, effective as of the Grant Date set forth in the Grant Notice (the “Grant Date”),
the Company irrevocably grants to the Optionee the Option to purchase any part or all of the aggregate number of Shares set forth in the Grant Notice, upon the terms and conditions set forth in the Plan and this Agreement. Unless designated as a
Non-Qualified Stock Option in the Grant Notice, the Option shall be an Incentive Stock Option to the maximum extent permitted by law. 
 2.2 Exercise Price. The exercise price of the Shares subject to the Option shall be as set forth in the Grant Notice, without commission or other charge; provided, however, that the
exercise price per share of the Shares subject to the Option shall not be less than 100% of the Fair Market Value of a Share on the Grant Date. Notwithstanding the foregoing, if this Option is an Incentive Stock Option and the Optionee is a Greater
Than 10% Stockholder as of the Grant Date, the exercise price per share of the Shares subject to the Option shall not be less than 110% of the Fair Market Value of a Share on the Grant Date. 

2.3 Consideration to the Company. In consideration of the grant of the Option by the Company, the Optionee agrees to render
faithful and efficient services to the Company or any Affiliate. Nothing in the Plan or this Agreement shall confer upon the Optionee any right to continue in the employ or service of the Company or any Affiliate or shall interfere with or restrict
in any way the rights of the Company and its Affiliates, which rights are hereby expressly reserved, to discharge or terminate the services of the Optionee at any time for any reason whatsoever, with or without Cause, except to the extent expressly
provided otherwise in a written agreement between the Company or an Affiliate and the Optionee. 

  
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 ARTICLE III. 
 PERIOD OF EXERCISABILITY 
 3.1 Commencement of Exercisability.

 (a) Subject to Sections 3.1(b), 3.2, 3.3, 5.8 and 5.9 hereof, the Option shall become vested and exercisable in such amounts
and at such times as are set forth in the Grant Notice. 
 (b) No portion of the Option which has not become vested and
exercisable as of the date of the Optionee’s Termination of Service shall thereafter become vested and exercisable, except as may be otherwise provided by the Administrator or as set forth in a written agreement between the Company and the
Optionee. 
 3.2 Duration of Exercisability. Any installments provided for in the vesting schedule set forth in the Grant
Notice are cumulative. Each such installment which becomes vested and exercisable pursuant to the vesting schedule set forth in the Grant Notice shall remain vested and exercisable until it becomes unexercisable under Section 3.3 hereof.

 3.3 Expiration of Option. The Option may not be exercised to any extent by anyone after the first to occur of the
following events: 
 (a) The Expiration Date set forth in the Grant Notice; 

(b) If this Option is designated as an Incentive Stock Option and the Optionee is a Greater Than 10% Stockholder as of the Grant Date,
the expiration of five (5) years from the Grant Date; 
 (c) The date that is three (3) months from the date of the
Optionee’s Termination of Service by the Company without Cause or by the Optionee for any reason (other than due to death or disability); 
 (d) The expiration of one (1) year from the date of the Optionee’s Termination of Service by reason of the Optionee’s death or disability; or 

(e) The start of business on the date of the Optionee’s Termination of Service by the Company for Cause. 

The Optionee acknowledges that an Incentive Stock Option exercised more than three (3) months after the Optionee’s termination
of employment, other than by reason of death or disability, will be taxed as a Non-Qualified Stock Option. 
 3.4 Special Tax
Consequences. The Optionee acknowledges that, to the extent that the aggregate Fair Market Value (determined as of the time the Option is granted) of all Shares with respect to which “incentive stock options” (within the meaning of
Section 422 of the Code, but without regard to Section 422(d) of the Code), including the Option, are exercisable for the first time by the Optionee in any calendar year exceeds $100,000, the Option and such other options shall be
Non-Qualified Stock Options to the extent necessary to comply with the limitations imposed by Section 422(d) of the Code. The Optionee further acknowledges that the rule set forth in the preceding sentence shall be applied by taking the Option
and other “incentive stock options” into account in the order in which they were granted, as determined under Section 422(d) of the Code and the Treasury Regulations thereunder. 

  
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 ARTICLE IV. 
 EXERCISE OF OPTION 
 4.1 Person Eligible to Exercise. Except as
provided in Section 5.2 hereof, during the lifetime of the Optionee, only the Optionee may exercise the Option or any portion thereof. After the death of the Optionee, any exercisable portion of the Option may, prior to the time when the Option
becomes unexercisable under Section 3.3 hereof, be exercised by the deceased Optionee’s beneficiary or by any person empowered to do so under the deceased Optionee’s will or under the then-applicable laws of descent and distribution,
subject to Section 11.3(c) of the Plan. 
 4.2 Partial Exercise. Any exercisable portion of the Option or the entire
Option, if then wholly exercisable, may be exercised in whole or in part at any time prior to the time when the Option or portion thereof becomes unexercisable under Section 3.3 hereof. However, the Option shall not be exercisable with respect
to fractional shares. 
 4.3 Manner of Exercise. The Option, or any exercisable portion thereof, may be exercised solely
by delivery to the Secretary of the Company (or any third party administrator or other person or entity designated by the Company) of all of the following prior to the time when the Option or such portion thereof becomes unexercisable under
Section 3.3 hereof: 
 (a) A written or electronic notice complying with the applicable rules established by the
Administrator stating that the Option, or a portion thereof, is exercised. The notice shall be signed by the Optionee or other person then entitled to exercise the Option or such portion of the Option; 

(b) Full payment of the exercise price and applicable withholding taxes to the stock administrator of the Company for the Shares with
respect to which the Option, or portion thereof, is exercised, in a manner permitted by Section 4.4 hereof; 
 (c) Any
other representations or documents as may be required in the Administrator’s sole discretion to effect compliance with all applicable provisions of the Securities Act, the Exchange Act, any other federal, state or foreign securities laws or
regulations, the rules of any securities exchange or automated quotation system on which the Shares are listed, quoted or traded or any other applicable law; and 
 (d) In the event the Option or portion thereof shall be exercised pursuant to Section 4.1 hereof by any person or persons other than the Optionee, appropriate proof of the right of such person or
persons to exercise the Option (as determined by the Administrator in its sole discretion). 
 Notwithstanding any of the foregoing, the Company
shall have the right to specify all conditions of the manner of exercise, which conditions may vary by country and which may be subject to change from time to time. 
 4.4 Method of Payment. Payment of the exercise price shall be by any of the following, or a combination thereof, at the election of the Optionee: 

(a) Cash; 
 (b)
Check; 

  
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 (c) Delivery of a written or electronic notice that the Optionee has placed a market sell
order with a broker with respect to Shares then issuable upon exercise of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the aggregate exercise price;
provided, that payment of such proceeds is then made to the Company upon settlement of such sale; 
 (d) With the consent
of the Administrator, surrender of other Shares which have been held by the Optionee for such period of time as may be required by the Administrator in order to avoid adverse accounting consequences and having a Fair Market Value on the date of
surrender equal to the aggregate exercise price of the Shares with respect to which the Option or portion thereof is being exercised; 
 (e) With the consent of the Administrator, surrendered Shares issuable upon the exercise of the Option having a Fair Market Value on the date of exercise equal to the aggregate exercise price of the
Shares with respect to which the Option or portion thereof is being exercised; or 
 (f) With the consent of the Administrator,
such other form of legal consideration as may be acceptable to the Administrator. 
 4.5 Conditions to Issuance of Stock
Certificates. The Shares deliverable upon the exercise of the Option, or any portion thereof, may be either previously authorized but unissued Shares, treasury Shares or issued Shares which have been purchased on the open market. Such Shares
shall be fully paid and nonassessable. The Company shall not be required to issue or deliver any certificates or make any book entries evidencing Shares purchased upon the exercise of the Option or portion thereof prior to fulfillment of the
conditions set forth in Section 11.4 of the Plan. 
 4.6 Rights as Stockholder. The holder of the Option shall not
be, nor have any of the rights or privileges of, a stockholder of the Company, including, without limitation, voting rights and rights to dividends, in respect of any Shares purchasable upon the exercise of any part of the Option unless and until
such Shares shall have been issued by the Company to such holder (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company). No adjustment shall be made for a dividend or other right for
which the record date is prior to the date the Shares are issued, except as provided in Section 14.2 of the Plan. 

ARTICLE V. 

OTHER PROVISIONS 
 5.1 Administration. The Administrator shall have the power to interpret the Plan and this Agreement as provided in the Plan. All interpretations and determinations made by the Administrator in good
faith shall be final and binding upon the Optionee, the Company and all other interested persons. 
 5.2 Transferability of
Option. Without limiting the generality of any other provision hereof, the Option shall be subject to the restrictions on transferability set forth in Section 11.3 of the Plan. 

5.3 Adjustments. The Optionee acknowledges that the Option is subject to modification and termination in certain events as
provided in this Agreement and Article 14 of the Plan. 
 5.4 Tax Consultation. The Optionee understands that the
Optionee may suffer adverse tax consequences as a result of the grant, vesting and/or exercise of the Option, and/or with the purchase or disposition of the Shares subject to the Option. The Optionee represents that the


  
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Optionee has consulted with any tax consultants the Optionee deems advisable in connection with the purchase or disposition of such shares and that the Optionee is not relying on the Company
for any tax advice. 
 5.5 Notification of Disposition. If this Option is designated as an Incentive Stock Option,
the Optionee shall give prompt notice to the Company of any disposition or other transfer of any Shares acquired under this Agreement if such disposition or transfer is made (a) within two (2) years from the Grant Date with respect to such
Shares or (b) within one (1) year after the transfer of such Shares to the Optionee. Such notice shall specify the date of such disposition or other transfer and the amount realized, in cash, other property, assumption of indebtedness or
other consideration, by the Optionee in such disposition or other transfer. 
 5.6 Optionee’s Representations. The
Optionee shall, if required by the Company, concurrently with the exercise of all or any portion of this Option, make such written representations as are deemed necessary or appropriate by the Company and/or the Company’s counsel. 

5.7 Section 409A. This Agreement and the Grant Notice shall be interpreted in accordance with the requirements of
Section 409A of the Code. The Administrator may, in its discretion, adopt such amendments to the Plan, this Agreement or the Grant Notice or adopt other policies and procedures (including amendments, policies and procedures with retroactive
effect), or take any other actions, as the Administrator determines are necessary or appropriate to comply with the requirements of Section 409A of the Code or an available exemption thereof; provided, however, that the
Administrator shall have no obligation to take any such action(s) or to indemnify any person from failing to do so. 
 5.8
Amendment, Suspension and Termination. To the extent permitted by the Plan, this Agreement may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Administrator or the
Board; provided, however, that, except as may otherwise be provided by the Plan, no amendment, modification, suspension or termination of this Agreement shall adversely affect the Option in any material way without the prior written consent
of the Optionee. 
 5.9 Not a Contract of Service Relationship. Nothing in this Agreement or in the Plan shall confer
upon the Optionee any right to continue to serve as an Employee, Director, Consultant or other service provider of the Company or any of its Affiliates or shall interfere with or restrict in any way the rights of the Company and its Affiliates,
which rights are hereby expressly reserved, to discharge or terminate the services of the Optionee at any time for any reason whatsoever, with or without Cause, except to the extent expressly provided otherwise in a written agreement between the
Company or an Affiliate and the Optionee. 
 5.10 Limitations Applicable to Section 16 Persons. Notwithstanding any
other provision of the Plan or this Agreement, if the Optionee is subject to Section 16 of the Exchange Act, then the Plan, the Option and this Agreement shall be subject to any additional limitations set forth in any applicable exemptive rule
under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, this Agreement shall be deemed amended
to the extent necessary to conform to such applicable exemptive rule. 
 5.11 Conformity to Securities Laws. The Optionee
acknowledges that the Plan and this Agreement are intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act, and any and all regulations and rules promulgated by the Securities and Exchange Commission
thereunder, as well as all applicable state securities laws and regulations. Notwithstanding 

  
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anything herein to the contrary, the Plan shall be administered, and the Option is granted and may be exercised, only in such a manner as to conform to such laws, rules and regulations. To the
extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations. 
 5.12 Limitation on the Optionee’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the
part of the Company as to amounts payable and shall not be construed as creating a trust. The Plan, in and of itself, has no assets. The Optionee shall have only the rights of a general unsecured creditor of the Company and its Affiliates with
respect to amounts credited and benefits payable, if any, with respect to the Option, and rights no greater than the right to receive the Common Stock as a general unsecured creditor with respect to Options, as and when payable hereunder.

 5.13 Successors and Assigns. The Company or any Affiliate may assign any of its rights under this Agreement to single
or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company and its Affiliates. Subject to the restrictions on transfer set forth in this Article 5, this Agreement shall be binding upon the
Optionee and his or her heirs, executors, administrators, successors and assigns. 
 5.14 Entire Agreement. The Plan, the
Grant Notice and this Agreement (including all Exhibits thereto, if any) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and its Affiliates and the Optionee with
respect to the subject matter hereof. 
 5.15 Notices. Any notice to be given under the terms of this Agreement to the
Company shall be addressed to the Company in care of the Secretary of the Company at the Company’s principal office, and any notice to be given to the Optionee shall be addressed to the Optionee at the Optionee’s last address reflected on
the Company’s records. Any notice shall be deemed duly given when sent via email or when sent by reputable overnight courier or by certified mail (return receipt requested) through the United States Postal Service. 

5.16 Governing Law. The laws of the State of Delaware shall govern the interpretation, validity, administration, enforcement and
performance of the terms of this Agreement regardless of the law that might be applied under principles of conflicts of laws. 

5.17 Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of
this Agreement. 

  
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 EXHIBIT B 
 TO STOCK OPTION GRANT NOTICE 
 CONSENT OF SPOUSE 

I,
                        , spouse of
                        , have read and approve the Stock Option Grant Notice (the “Grant Notice”) to
which this Consent of Spouse is attached and the Stock Option Agreement (the “Agreement”) attached to the Grant Notice. In consideration of issuing to my spouse the shares of the common stock of Blackhawk Network Holdings,
Inc. set forth in the Grant Notice, I hereby appoint my spouse as my attorney-in-fact in respect to the exercise of any rights under the Agreement and agree to be bound by the provisions of the Agreement insofar as I may have any rights in said
Agreement or any shares of the common stock of Blackhawk Network Holdings, Inc. issued pursuant thereto under the community property laws or similar laws relating to marital property in effect in the state of our residence as of the date of the
signing of the foregoing Agreement. 
  

			
	Dated:
                                	 	  

		 	Signature of Spouse


  
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