Document:

EX-10.13

 Exhibit 10.13 

ULTA BEAUTY, INC. 

AMENDED AND RESTATED 2011 INCENTIVE AWARD PLAN 

OPTION AGREEMENT - CERTIFICATE 

The following evidences a grant of an option (the “Option”) to purchase shares of common stock of Ulta Beauty, Inc. (the
“Company”) pursuant to the Amended and Restated Ulta Beauty, Inc. 2011 Incentive Award Plan (the “Plan”) to the following individual and upon the following terms: 

 

			
	 Name:
  
	  	 Address:                

		
	Grant Date:	  	
		
	Exercise Price Per Share:	  	
		
	Total Number of Shares Granted:	  	
		
	Type of Option:	  	

 If designated as an Incentive Stock Option, this Option is intended to qualify as an Incentive Stock Option as
defined in Section 422 of the Code; provided, however, that to the extent that it does not so qualify that portion which does not so qualify shall be treated as a Non-Qualified Stock Option. 

Unless otherwise defined herein, capitalized terms shall have the same meanings as set forth in the Plan. 

1. Vesting Schedule. The Option shall vest and become exercisable based on Optionee’s continued service as an Employee,
Director or Consultant to the Company on the following dates and according to the following schedule: 
 [ADD VESTING SCHEDULE] 

Notwithstanding the foregoing, the Option will be fully vested and exercisable if (i) Optionee has a Termination of Service by reason of death or
Disability or (ii) Optionee’s Termination of Service without Cause within twelve (12) months following a Change in Control. If Optionee has a Termination of Service for Cause, then the Option will be forfeited, whether or not
previously vested, and all rights Optionee may have to exercise the Option shall immediately terminate. For this purpose “Cause” shall mean, as determined in the sole discretion of the Administrator, the Optionee’s (i) commission
of a felony; (ii) dishonesty or misrepresentation involving the Company; (iii) serious misconduct in the performance or non-performance of his or her responsibilities to the Company (e.g. gross
negligence, willful misconduct, gross insubordination or unethical conduct); and (iv) if Optionee is an employee of the Company, violation of any material condition of employment. 

 Award holders who terminates other than For Cause; If combined age and length of service at time of retirement
are equal or greater than 70, the stock option award holder can have one year from termination date to exercise vested stock options instead of the ninety (90) days currently provided to a terminated option holder. No additional vesting of
options can occur – only an extended length of time to exercise the vested option. 
 2. Option Period. The Option shall
be valid for a term commencing on the Grant Date and will expire the earliest of: (i) ten (10) years from the Grant Date; (ii) the date three (3) months after the Optionee ceases to be a Service Provider for any reason other than
death, or Disability; (iii) the date twelve (12) months after the Optionee ceases to be a Service Provider by reason of death, or Disability or (iv) the date Optionee ceases to be a Service Provider for reasons of Cause. 

3. Exercise. The Option may be exercised at any time during its term to the extent vested. If Optionee has a Termination of
Service any unvested portion of the Option will terminate and will no longer be exercisable. The Option may not be exercised for fractional shares. In order to exercise the Option, Optionee shall be required to execute such forms and provide such
notice as the Company may require from time to time. The Option will not be deemed exercised until the Exercise Price for each share, plus any required tax withholding is delivered to the Company. The Exercise Price may be paid pursuant to any
method allowable under the Plan. 
 4. Non-Compete,
Non-Solicitation and Confidential Information. The grant of this Option is subject to the Optionee’s either consenting to or having already consented to and abiding by the terms of the
Confidential Information & Restrictive Covenants Agreement. 
 5. Withholding. The Company has the authority to
deduct or withhold, or require Optionee to remit to the Company, an amount sufficient to satisfy applicable federal, state, local and foreign taxes arising from this Option. Optionee may satisfy his or her tax obligation, in whole or in part : (i)
with the consent of the Company, by having the Company withhold shares otherwise to be delivered with a fair market value equal to the minimum amount of the tax withholding obligation; (ii) with the consent of the Company, by having the
Optionee surrender to the Company previously owned Common Stock with a fair market value equal to the minimum amount of the tax withholding obligation; (iii) by payment in cash or check; or (iv) with the consent of the Company, by delivery
of a 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 withholding amount; provided that payment of such proceeds is then made to the Company upon settlement of such sale. 

6. No Additional Rights. Participation in the Plan is voluntary. The value of the option is an extraordinary item of
compensation outside the scope of Optionee’s employment contract, if any. As such, the option is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments,

  
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bonuses, long-service awards, pensions or retirement benefits or similar payments unless specifically and otherwise provided in such plans. Rather, the awarding of an option under the Plan
represents a mere investment opportunity. 
 7. Not Transferable. This Option is not transferable except by will or the laws
of descent and distribution. 
 8. Limitations on Plan Rights. This Option is granted under and governed by the terms and
conditions of the Plan. By acceptance of this Option Optionee acknowledges and agrees that the Plan is discretionary in nature and may be amended, cancelled, or terminated by the Company, in its sole discretion, at any time. The grant of an option
under the Plan is a one-time benefit and does not create any contractual or other right to receive a grant of options or benefits in lieu of options in the future. Future grants of options, if any, will be at
the sole discretion of the Company, including, but not limited to, the timing of the grant, the number of stock options, vesting provisions, and the exercise price. The Plan has been introduced voluntarily by the Company and in accordance with the
provisions of the Plan may be terminated by the Company at any time. By acceptance of this Option, Optionee consents to the provisions of the Plan and this Agreement. Defined terms used herein shall have the meaning set forth in the Plan, unless
otherwise defined herein. 
  

			
	COMPANY:
	
	ULTA BEAUTY, INC., a Delaware corporation
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 3EX-10.14

 Exhibit 10.14 

ULTA BEAUTY, INC. 

AMENDED AND RESTATED 2011 INCENTIVE AWARD PLAN 

RESTRICTED STOCK UNIT AWARD AGREEMENT 

Ulta Beauty, Inc. (the “Company”) pursuant to the Amended and Restated Ulta Beauty, Inc. 2011 Incentive Award Plan (the
“Plan”) hereby grants the number of Restricted Stock Units (each, an “RSU”) set forth below to the following individual, subject to the restrictions on transfer and forfeiture and such other limitations set forth
herein and in the Plan. Each RSU entitles the Holder to receive an equal number of shares of common stock, par value $0.01 per share (“Shares”) at settlement, as described herein. 

 

			
	 Name:
	  	 Address:                

		
	Grant Date	  	
		
	Total Number of RSUs Granted	  	

 Unless otherwise defined herein, capitalized terms shall have the same meanings set forth in the Plan. 

1. Vesting Schedule. The RSUs are subject to the restrictions on transfer set forth in Section 2 and
may be forfeited as provided in Section 4, until vested. Holder shall vest in the RSUs as follows: 
 [ADD VESTING SCHEDULE] 

Notwithstanding the foregoing, all RSUs will fully vest and become payable if (i) Holder has a Termination of Service for reasons of
death or disability or (ii) Holder has a Termination of Service without Cause within twelve (12) months following a Change in Control. For this purpose “Cause” shall mean, as determined in the sole discretion of the
Administrator, the Holder’s (i) commission of a felony; (ii) dishonesty or misrepresentation involving the Company; (iii) serious misconduct in the performance or non-performance of his or
her responsibilities to the Company (e.g., gross negligence, willful misconduct, gross insubordination or unethical conduct) or (iv) violation of any material condition of employment if Holder is an employee of the Company. 

 2. Limits on Transfer. Holder may not
sell, pledge, transfer, subject to lien, assign or otherwise hypothecate the RSUs unless and until the RSUs have vested, and all other terms and conditions set forth herein and in the Plan have been satisfied. Any attempt to do so contrary to the
provisions of this Award Agreement shall be null and void. 
 3. Non-Compete,
Non-Solicitation and Confidential Information. The grant of the RSUs is subject to Holder either consenting to or having already
consented to and abiding by the terms of the Confidential Information & Restrictive Covenants Agreement. 
 4.
Forfeiture. Unless otherwise provided herein, all unvested RSUs shall be forfeited upon the Holder’s Termination of Service with the Company or the Holder’s violation of the Confidential Information & Restrictive
Covenants Agreement. 
 5. Settlement and Payment of
RSUs. The RSUs will become payable and settled in Shares equal to the number of RSUs then vesting, on the date the RSU vests as provided in Section 1 (each a “Payment Date”). The Company shall deliver
the Shares electronically into a brokerage account designated by Holder and shall not be required to deliver actual physical Share certificates. The issuance of Shares in settlement of vested RSUs will be subject to tax withholding, as provided
below. 
 6. Withholding. The Company has the authority to deduct or withhold, or require Holder to remit to the Company, an
amount sufficient to satisfy applicable federal, state, local and foreign withholding taxes with respect to the Shares issued in settlement of vested RSUs. A Holder may elect to satisfy his tax obligation, in whole or in part: (i) with the
consent of the Company, by surrendering Shares or having the Company withhold Shares otherwise issuable under this Award Agreement, in each case with a Fair Market Value on the date of such surrender or withholding equal to the minimum amount of the
tax withholding obligation or (ii) by payment in cash or check. Notwithstanding anything to the contrary herein, if the Holder made no such election or the tax obligation arises during a period in which the Holder is prohibited from trading
under any policy of the Company or by reason of the Securities Exchange Act of 1934, then the tax withholding obligation shall automatically be satisfied by the Company withholding Shares having a Fair Market Value equal to the minimum amount of the
tax withholding obligation. No Shares will be delivered to Holder in settlement of vested RSUs under Section 5 unless and until all tax withholding obligations have been satisfied. 

7. Rights as Stockholder. The RSUs awarded under this Award Agreement do not confer
upon Holder any rights as a stockholder, including but not limited to any right to vote or receive dividends. To the extent that dividends are paid on Shares, Holder shall be entitled to receive with respect to the RSUs, dividend equivalent amounts
equal to the regular cash dividend payable to holders of Shares (to the extent regular cash dividends are paid) as if Holder were an actual shareholder with respect to the number of Shares equal to his outstanding RSUs (the “Dividend
Equivalents”). Participant’s rights to Dividend Equivalents shall cease upon forfeiture or payment of the RSUs. The aggregate amount of such Dividend Equivalents shall be held by the Company, without interest thereon, and paid to
Participant as of the next payroll period after each Payment Date applicable to the RSUs to which such Dividend Equivalents relate become payable. Any Dividend Equivalents held by the Company on RSUs which do not vest, shall be forfeited and
retained by the Company. 

  
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 8. Employment. This Award Agreement does not constitute a contract of employment,
and does not confer upon Holder the right to be retained in the employ of the Company or any Subsidiary. In addition, nothing in the Plan or this Award Agreement shall be interpreted to interfere with or limit in any way the right of the Company to
terminate Holder’s employment or services at any time. 
 9. No Additional
Rights. Participation in the Plan is voluntary. The value of the RSUs is an extraordinary item that is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service
payments, bonuses, long-service awards, pensions or retirement benefits or similar payments unless specifically and otherwise provided in such plans. Rather, the awarding of the RSUs under the Plan represents a mere investment. 

10. Limitations on Plan Rights. The RSUs are granted under and
governed by the terms and conditions of the Plan. By acceptance of the RSUs, Holder acknowledges and agrees that the Plan is discretionary in nature and may be amended, cancelled, or terminated by the Company, in its sole discretion, at any time.
The grant of the RSUs under the Plan is a one-time benefit and does not create any contractual or other rights in Holder to receive a grant of stock or benefits in lieu of RSUs in the future. Future grants of
RSUs, if any, will be at the sole discretion of the Company, including, but not limited to, the timing of the grant, the number of RSUs, and vesting provisions. The Plan has been introduced voluntarily by the Company and in accordance with the
provisions of the Plan may be terminated by the Company at any time. By acceptance of the Restricted Stock Unit Award, Holder consents to the provisions of the Plan and this Award Agreement. 

 

			
	COMPANY:
	
	ULTA BEAUTY, INC., a Delaware corporation
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
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