Document:

Form of 2011 Performance Share Unit Award Agreement

 Exhibit 10.2 

 

 

 AN AWARD FOR PERFORMANCE SHARE UNITS (hereinafter the “Units”), representing a number of shares of Nordstrom
Common Stock (“Common Stock”) as noted in the 2011 Notice of Award of Performance Share Units (the “Notice”), of Nordstrom, Inc., a Washington Corporation (the “Company”), is hereby granted to the Recipient
(“Unit holder”) on the date set forth in the Notice, subject to the terms and conditions of this Agreement. The Units are also subject to the terms, definitions and provisions of the Nordstrom, Inc. 2010 Equity Incentive Plan (the
“Plan”) adopted by the Board of Directors of the Company (the “Board”) and approved by the Company’s shareholders, which is incorporated in this Agreement. To the extent inconsistent with this Agreement, the terms of the
Plan shall govern. Terms not defined herein shall have the meanings as set forth in the Plan. The Compensation Committee of the Board (the “Compensation Committee”) has the discretionary authority to construe and interpret the Plan and
this Agreement. All decisions of the Compensation Committee upon any question arising under the Plan or under this Agreement shall be final and binding on all parties. The Award and the Units issued thereunder are subject to the following terms and
conditions: 

 

	1.	VESTING AND SETTLEMENT OF UNITS 

At the end of three fiscal years following the date of the Award (“the Performance Cycle”), Units shall vest and be settled in
accordance with the provisions of the Plan as follows: 
  

	 	(a)	Vesting 

 Each vested Unit is
equal in value to one share of Common Stock. Except as set forth in Section 4, Units shall vest at the applicable percentage when the Compensation Committee certifies that (1) the Company’s Total Shareholder Return (TSR) is positive,
and (2) its TSR performance relative to the TSR of other companies in the Peer Group exceeds the following corresponding percentile rankings. For purposes of determining the Company’s TSR relative to the TSR of other companies in the Peer
Group, the share price of Common Stock, and the share prices of the companies in the Peer Group, are based on the thirty trading day closing price average immediately prior to the start of the Performance Cycle and the thirty trading day closing
price average immediately prior to the end of the Performance Cycle. 
  

			
	 Percentile Rank Among Peers
	  	 PSUs Earned as % of Grant

(assuming positive Nordstrom TSR)

	 > 85%
	  	125%
	 > 75%
	  	100%
	 > 65%
	  	85%
	 > 50%
	  	75%
	 < 50%
	  	0%

 While the relative
percentile rankings may change during the Performance Cycle based upon mergers, acquisitions, dissolutions and other industry consolidation involving the companies in the Peer Group, the application of the percentile earned above is applied
consistently. Generally, Units will be earned if the Nordstrom TSR for the Performance Cycle is positive and in the top half of performers relative to the other companies in the Peer Group. Units vest following Compensation Committee certification
of the percentage earned. 
  

	 	(b)	Settlement 

 Earned units shall
be settled upon vesting, unless the Unit holder has elected to defer the Units into the Executive Deferred Compensation Plan (EDCP) in accordance with its rules. Upon deferral, the vested Units (and their subsequent settlement and payment) shall be
governed by the terms and conditions of the EDCP as that Plan may be amended from time to time by the Company. 
 Unless
earlier deferred into the EDCP, the Unit holder shall elect (during a period prior to settlement as prescribed by and in accordance with procedures established by the Company) to settle the Units upon vesting in either one share of Common Stock for
each vested Unit, receive an equivalent amount of cash for each vested Unit, or receive a combination of cash and stock. In the event the Unit holder does not or is unable to make such a settlement election, the Units shall be settled in stock. In
the event the Units are settled in cash, the amount of cash will be determined on the basis of the closing price of Common Stock on the New York Stock Exchange on the last day of the Performance Cycle. 

 

	 	(c)	Withholding Taxes 

 No stock
certificates or cash will be distributed to the Unit holder, or amounts deferred into the EDCP, unless the Unit holder has made acceptable arrangements to pay any withholding taxes that may be due as a result of the settlement of this Award. These
arrangements may include withholding shares of Common Stock that otherwise would be distributed when the Units are settled. The fair market value of the shares required to cover withholding will be applied to the withholding of taxes prior to the
Unit holder receiving the remaining shares or the cash value of those shares. 
  

	 	(d)	Restrictions on Resale 

 The
Unit holder agrees not to sell any shares of Common Stock at a time when applicable laws or Company policies prohibit a sale. This restriction will apply as long as the Unit holder is an employee, consultant or director of the Company or a
subsidiary or affiliate of the Company. 
  

	2.	ACCEPTANCE OF UNITS 

 Although
the Company may or may not require the Unit holder’s signature upon accepting the Award, the Unit holder remains subject to the terms and conditions of this Agreement. 

 

	3.	NONTRANSFERABILITY OF UNITS 

The Units may not be sold, pledged, assigned or transferred in any manner except in the event of the Unit holder’s death. In the
event of the Unit holder’s death, the Units may be transferred to the person indicated on a valid Nordstrom Beneficiary Designation form, or if no Beneficiary Designation form is on file with the Company, then to the person to whom the Unit
holder’s rights have passed by will or the laws of descent and distribution. Except as set forth in Section 4 below, the Units may be settled during the lifetime of the Unit holder only by the Unit holder or by the guardian or legal
representative of the Unit holder. The terms of the Award shall be binding upon the executors, administrators, heirs and successors of the Unit holder. 
  

	4.	SEPARATION OF EMPLOYMENT 

Except as set forth below, Units vest and may only be settled while the Unit holder is an employee of the Company. If the Unit
holder’s employment is terminated, the Units shall continue to vest pursuant to the schedule set forth in subparagraph 1(a) above, and the Unit holder or his or her legal representative shall have the right to settlement of the Units after such
termination only as follows: 
  

	 	(a)	If the Unit holder dies while employed by the Company, the person named on the Unit holder’s Beneficiary Designation form shall be entitled to settlement of the
Units. If no valid Beneficiary Designation form is on file with the Company, then the person to whom the Unit holder’s rights have passed by will or the laws of descent and distribution shall be entitled to settlement of the Units. If the Units
were granted at least six months prior to the death of the Unit holder while employed by the Company, the Unit holder’s beneficiary shall be entitled to a prorated payment with respect to vested Units based on the period of service during the
term of this Agreement. If the Units were granted less than six months prior to death, the Units shall be forfeited as of the date of death with no rights to a prorated payment at settlement.

  

			
	1 | Performance Share Unit Award Agreement	  	

	 	(b)	If the Unit holder is separated due to his or her disability, as defined in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the
“Code”), and the Units were granted at least six months prior to such separation, and the Unit holder provides Nordstrom Leadership Benefits with reasonable documentation of the Unit holder’s disability, the Unit holder (or his or her
beneficiary) shall be entitled to a prorated payment with respect to vested Units based on the period of service during the term of this Agreement. If the Units were granted less than six months prior to separation due to the Unit holder’s
disability, the Units shall be forfeited as of the date of separation with no rights to a prorated payment at settlement. 

  

	 	(c)	If the Unit holder is separated due to retirement between the ages of 53 and 57 with 10 years of continuous service to the Company from the most recent hire date, or
upon attaining age 58, and the Units were granted at least six months prior to such separation, the Unit holder (or his or her beneficiary) shall be entitled to a prorated payment with respect to vested Units based on the period of service during
the term of this Agreement. If the Units were granted less than six months prior to retirement, the Units shall be forfeited as of the date of retirement with no rights to a prorated payment at settlement. 

 

	 	(d)	If the Unit holder’s employment is terminated due to his or her embezzlement or theft of Company funds, defraudation of the Company, violation of Company rules,
regulations or policies, or any intentional act that harms the Company, such Units, to the extent not vested and settled as of the date of termination, shall be forfeited as of that date. 

 

	 	(e)	If the Unit holder is separated for any reason other than those set forth in subparagraphs (a), (b), (c) and (d) above, Units, to the extent not vested and
settled as of the date of his or her separation, shall be forfeited as of that date. 

 Notwithstanding anything
above to the contrary, if at any time during the term of this Award, the Unit holder directly or indirectly, either as an employee, employer, consultant, agent, principal, partner, shareholder, corporate officer, director or in any other capacity,
engages or assists any third party in engaging in any business competitive with the Company; divulges any confidential or proprietary information of the Company to a third party who is not authorized by the Company to receive the confidential or
proprietary information; or improperly uses any confidential or proprietary information of the Company, then the post-separation proration of Units and settlement rights set forth above shall cease immediately, and all outstanding vested but not
settled and unvested portions of the Award shall be forfeited. 
  

	5.	TERM OF UNITS 

 Units not
certified by the Compensation Committee as having vested as of the end of the Performance Cycle for which the Units were awarded, shall be forfeited. 
  

	6.	ADJUSTMENTS UPON CHANGES IN CAPITALIZATION 

 The number and kind of shares of Common Stock subject to this Award shall be appropriately adjusted pursuant to the Plan to reflect any stock dividend, stock split, split-up, extraordinary dividend
distribution, or any combination or exchange of shares, however accomplished. 
  

	7.	ADDITIONAL UNITS 

 The
Compensation Committee may or may not grant the Unit holder additional Units in the future. Nothing in this Award or any future Award should be construed as suggesting that additional Unit awards to the Unit holder will be forthcoming. 

 

	8.	LEAVES OF ABSENCE 

 For
purposes of this Award, the Unit holder’s service does not terminate due to a military leave, a medical leave or another bona fide leave of absence if the leave was approved by the Company in writing and if continued crediting of service is
required by the terms of the leave or by applicable law. But, service terminates when the approved leave ends unless the Unit holder immediately returns to active work. 

 

	9.	TAX WITHHOLDING 

 In the event
that the Company determines that it is required to withhold any tax as a result of the settlement of Units, the Unit holder shall make arrangements satisfactory to the Company to enable it to satisfy all withholding requirements. 

 

	10.	RIGHTS AS A SHAREHOLDER 

Neither the Unit holder nor the Unit holder’s beneficiary or representative shall have any rights as a shareholder with respect to
any Common Stock subject to these Units, unless and until the Units vest and are settled in shares of Common Stock of the Company. 
  

	11.	NO RETENTION RIGHTS 

 Nothing
in this Agreement or in the Plan shall give the Unit holder the right to be retained by the Company (or a subsidiary of the Company) as an employee or in any capacity. The Company and its subsidiaries reserve the right to terminate the Unit
holder’s service at any time, with or without cause. 
  

	12.	CLAWBACK POLICY 

 The Units,
and any proceeds (Common Stock or cash) received in connection with the settlement of the Units or subsequent sale of such issued Common Stock, shall be subject to the Clawback Policy adopted by the Company’s Board, as amended from time to
time. 
 In the event the Clawback Policy is deemed unenforceable with respect to the Units, or with respect to the proceeds
received in connection with the settlement of the Units or subsequent sale of such issued Common Stock, then the award of Units subject to this Agreement shall be deemed unenforceable due to lack of adequate consideration. 

 

	13.	ENTIRE AGREEMENT 

 The Notice,
this Agreement and the Plan constitute the entire contract between the parties hereto with regard to the subject matter hereof. They supersede any other agreements, representations or understandings (whether oral or written and whether express or
implied) that relate to the subject matter hereof. 
 This Agreement may not be modified or amended, except for a unilateral
amendment by the Company that does not materially adversely affect the rights of the Unit holder under this Agreement. No party to this Agreement may unilaterally waive any provision hereof, except in writing. Any such modification, amendment or
waiver signed by, or binding upon, the Unit holder, shall be valid and binding upon any and all persons or entities who may, at any time, have or claim any rights under or pursuant to this Agreement. 

 

	14.	CHOICE OF LAW 

 This Agreement
shall be governed by, and construed in accordance with, the laws of the State of Washington, as such laws are applied to contracts entered into and performed in such State. 

 

	15.	SEVERABILITY 

 If any provision
of this Agreement shall be invalid or unenforceable, such invalidity or unenforceability shall attach only to such provision and shall not in any manner affect or render invalid or unenforceable any other severable provision of this Agreement, and
this Agreement shall be carried out as if such invalid or unenforceable provision were not contained herein. 
  

	16.	CODE SECTION 409A 

 The Company
reserves the right, to the extent the Company deems reasonable or necessary in its sole discretion, to unilaterally amend or modify this Agreement as may be necessary to ensure that all vesting or delivery of compensation provided under this
Agreement is made in a manner that complies with Section 409A of the Code, together with regulatory guidance issued thereunder. 

  

			
	2 | Performance Share Unit Award AgreementForm of Visa Inc 2007 Equity Incentive Compensation Plan Stock Option Award Agmt

 Exhibit 10.40 
 Visa Inc. 
 2007 Equity Incentive Compensation Plan 

Stock Option Award Agreement 

This Stock Option Award Agreement (this “Agreement”), dated as of the Grant Date set forth in the Notice of Option Grant attached as
Schedule A hereto (the “Grant Notice”), is made between Visa Inc. (the “Company”) and the Participant set forth in the Grant Notice. The Grant Notice is included in and made part of this Agreement. 

1. Grant of the Option. 

(a) Subject to the provisions of this Agreement and the provisions of the Visa Inc. 2007 Equity Incentive Compensation Plan (the
“Plan”), the Company hereby grants to the Participant, pursuant to the Plan, the right and option (the “Option”) to purchase all or any part of the number of shares of Class A Common Stock of the Company (“Shares”)
set forth in the Grant Notice at the Option Price per Share and on the other terms as set forth in the Grant Notice. 
 (b) The Option is
intended to be a Nonqualified Stock Option. 
 2. Exercisability of the Option. 

The Option shall become exercisable in accordance with the exercisability schedule and other terms set forth in the Grant Notice. The Option shall
terminate on the tenth anniversary of the Grant Date stated in the Grant Notice (the “Expiration Date”), subject to earlier termination as set forth in the Plan and this Agreement. 

3. Method of Exercise of the Option. 
 (a) The Participant may exercise the Option, to the extent then exercisable, by delivering a written or electronic notice to the Stock Plan Administrator in a form satisfactory to the Committee specifying the
number of Shares with respect to which the Option is being exercised and payment to the Company of the aggregate Option Price in accordance with Section 3(b). 
 (b) At the time the Participant exercises the Option, the Participant shall pay the Option Price of the Shares as to which the Option is being exercised to the Company, subject to such terms, conditions and
limitations as the Committee may prescribe: (i) in cash or its equivalent; (ii) by tendering (either by actual delivery or attestation) unencumbered Shares previously acquired by the Participant exercising such Option having an aggregate
Fair Market Value at the time of exercise equal to the total Option Price; (iii) a cashless (broker-assisted) exercise that complies with all applicable laws; (iv) withholding of Shares otherwise deliverable to the Participant pursuant to
the Option having an aggregate Fair Market Value at the time of exercise equal to the total Option Price; or (v) by a combination of the consideration provided for in the foregoing clauses (i), (ii), (iii), and (iv). 

(c) The Company’s obligation to deliver the Shares to which the Participant is entitled upon exercise of the Option is conditioned on the
Participant’s satisfaction in full to the Company of the aggregate Option Price of those Shares and the required tax withholding related to such exercise. 
 4. Termination. 
 Except as provided below, the Option shall terminate and be forfeited upon
Termination of the Participant, and upon such termination and forfeiture of the Option, no Shares may thereafter be purchased under the Option. Notwithstanding anything contained in this Agreement, the Option shall not be exercised after the
Expiration Date. 

 (a) Termination by the Company without Cause. Upon Termination of the Participant by the
Company or a Subsidiary or Affiliate without Cause (as defined below), whether prior to or following a Change of Control, the Option shall thereafter be immediately exercisable for all or any portion of the full number of Shares available for
purchase under the Option until the Expiration Date. For the avoidance of doubt, Section 14.1(a) of the Plan shall not apply to the Option to the extent such provision conflicts with this Section 4(a). 

(b) Death and Disability. Upon Termination of the Participant due to the Participant’s death or permanent disability (as defined under
the Company’s, a Subsidiary’s or an Affiliate’s long-term disability plan under which the Participant is covered from time to time (“Disability”)), the Option shall thereafter be immediately exercisable for all or any
portion of the full number of Shares available for purchase under the Option until the Expiration Date. 
 (c) Retirement. Upon
Termination of the Participant due to the Participant’s Termination at or after attainment of normal retirement eligibility under the generally applicable retirement plan of the Company, a Subsidiary or an Affiliate under which the Participant
is covered in his or her home country (“Retirement”), the Option shall thereafter be exercisable for all or any portion of the full number of Shares available for purchase under the Option until the third anniversary of the date of such
Termination. 
 (d) Termination for Cause. Upon Termination of the Participant by the Company, a Subsidiary or an Affiliate for
Cause, any portion of the Option, whether vested or unvested, that has not been exercised shall immediately terminate. 
 (e) Good
Reason following a Change of Control. If a Change of Control occurs, and, at any time prior to the second (2nd) anniversary of such Change of Control, the Participant terminates his or her employment for Good Reason (as defined below), then
the Option shall thereafter be exercisable for all or any portion of the full number of Shares available for purchase under the Option until the Expiration Date . For the avoidance of doubt, Section 14.1(a) of the Plan shall not apply to the
Option to the extent such provision conflicts with this Section 4(e). 
 (f) Other Terminations. Upon Termination of the
Participant by the Company or a Subsidiary or Affiliate or by the Participant other than under the circumstances described in paragraph (a). (b), (c), (d) or (e) of this Section 4, the Option, to the extent exercisable as of the date
of such Termination, shall thereafter be exercisable for a period of 90 days from the date of such Termination, and all Options that were not exercisable as of the date of such Termination shall be immediately forfeited. 

(g) Business Days. If the relevant date until which the Option would otherwise be exercisable specified in Section 4 (c) or
(f) hereof is not a business day on which the main office of Visa Inc. is open for business, such relevant date shall be deemed to be the immediately next following such business day for purposes of such section. Notwithstanding the foregoing
provisions of this Section 4, in no event may the Option be exercised after the Expiration Date 
 5. Non-Transferability of the
Option. 
 The Option shall not be transferable otherwise than by will or the laws of descent and distribution, and is exercisable,
during the lifetime of the Participant, only by him or her; provided, however, that the Committee may, in its discretion, permit the Option to be transferred subject to such conditions and limitations as the Committee may impose.
Notwithstanding the foregoing, during the Participant’s lifetime, the Option may be transferred to and exercised by the Participant’s former spouse pursuant to a domestic relations order which is approved by the Committee, in accordance
with any procedures, and subject to any limitations, as the Committee may prescribe and subject to applicable law. 

 6. Taxes and Withholdings. 

At the time of receipt of Shares upon the exercise of all or any part of the Option, the Participant shall pay to the Company in cash, or make
other arrangements, in accordance with Article XVI of the Plan, for the satisfaction of, any taxes of any kind and social security payments due or potentially payable or required to be withheld with respect to such Shares; provided,
however, that subject to any limitations as the Committee may prescribe and subject to applicable law, the Participant may elect to satisfy, in whole or in part, such withholding obligations by (a) directing the Company to withhold
Shares otherwise issuable to the Participant upon exercise of the Option; provided, however, that the amount of any Shares so withheld shall not exceed the amount necessary to satisfy required federal, state, local and non-United States
withholding obligations using the minimum statutory withholding rates for federal, state, local and/or non-U.S. tax purposes, including payroll taxes, that are applicable to supplemental taxable income; and/or (b) tendering to the Company a
number of Shares then owned by the Participant (or by the Participant and his or her spouse jointly) and purchased or held for the requisite period of time as may be required to avoid the Company or any Subsidiary or Affiliate incurring an adverse
accounting charge and having an aggregate Fair Market Value as of the exercise date not greater than such tax and other obligations. Any such election made by the Participant must be (i) made on or prior to the applicable exercise date; and
(ii) irrevocable, made in writing, signed by the Participant, and shall be subject to any restrictions or limitations that the Committee, in its sole discretion, deems appropriate. 

Regardless of any action the Company, an Affiliate and/or a Subsidiary takes with respect to any or all tax withholding (including social
insurance contribution obligations, if any ), the Participant acknowledges that the ultimate liability for all such taxes is and remain the Participant’s responsibility (or that of the Participant’s beneficiary), and that none of the
Company, an Affiliate and /or a Subsidiary: (a) makes any representations or undertakings regarding the treatment of any tax withholding in connection with any aspect of the Option, including the grant or vesting thereof, the subsequent sale of
Shares and the receipt of any dividends; or (b) commits to structure the terms of the Option or any aspect of the Option to reduce or eliminate the Participant’s (or his or her beneficiary’s) liability for such tax. 

7. No Rights as a Shareholder. 
 Neither the Participant nor any other person shall become the beneficial owner of the Shares subject to the Option, nor have any rights to dividends or other rights as a shareholder with respect to any such Shares,
until the Participant has actually received such Shares following the exercise of the Option in accordance with the terms of the Plan and this Agreement. 
 8. No Right to Continued Employment. 
 Neither the Option nor any terms contained in this
Agreement shall confer upon the Participant any rights or claims except in accordance with the express provisions of the Plan and this Agreement, and shall not give the Participant any express or implied right to be retained in the employment or
service of the Company or any Subsidiary or Affiliate for any period or in any particular position or at any particular rate of compensation, nor restrict in any way the right of the Company or any Subsidiary or Affiliate, which right is hereby
expressly reserved, to modify or terminate the Participant’s employment or service at any time for any reason. The Participant acknowledges and agrees that any right to exercise the Option is earned only by continuing as an employee of the
Company or a Subsidiary or Affiliate at the will of the Company or such Subsidiary or Affiliate, or satisfaction of any other applicable terms and conditions contained in the Plan and this Agreement, and not through the act of being hired, being
granted the Option or acquiring Shares hereunder. 
 9. The Plan. 

By accepting any benefit under this Agreement, the Participant and any person claiming under or through the Participant shall be conclusively
deemed to have indicated his or her 

 
acceptance and ratification of, and consent to, all of the terms and conditions of the Plan and this Agreement and any action taken under the Plan by the Board, the Committee or the Company, in
any case in accordance with the terms and conditions of the Plan. Unless defined herein, capitalized terms are used herein as defined in the Plan. In the event of any conflict between the provisions of the Plan and this Agreement, the provisions of
the Plan shall control, and this Agreement shall be deemed to be modified accordingly. This Agreement is subject to all the terms, provisions and conditions of the Plan, which are incorporated herein by reference, and to such rules, policies and
regulations as may from time to time be adopted by the Committee. A paper copy of the Plan and the prospectus shall be provided to the Participant upon the Participant’s written request to the Company at 900 Metro Center Blvd., Foster City,
California 94404, Attention: Stock Plan Administrator. 
 10. Certain Defined Terms. 

For purposes of this Agreement, the following terms shall have the meanings set forth below: 

(a) “Cause” shall have the meaning set forth in the Visa Inc. Executive Severance Plan (the “Executive Severance Plan”);
provided that, if at the Grant Date, the Participant is party to an effective employment agreement with the Company, a Subsidiary or an Affiliate, the definition of Cause set forth in such agreement shall apply until the date on which such
employment agreement expires. 
 (b) “Good Reason” shall have the meaning set forth in the Executive Severance Plan;
provided that, if at the Grant Date, the Participant is party to an effective employment agreement with the Company, a Subsidiary or an Affiliate, the definition of Good Reason set forth in such agreement shall apply until the date on which
such employment agreement expires. 
 11. Compliance with Laws and Regulations. 

(a) The Option and the obligation of the Company to sell and deliver Shares hereunder shall be subject in all respects to: (i) all applicable
Federal and state laws, rules and regulations ; and (ii) any registration, qualification, approvals or other requirements imposed by any government or regulatory agency or body which the Committee shall, in its discretion, determine to be
necessary or applicable. Moreover, the Option may not be exercised if its exercise, or the receipt of Shares pursuant thereto, would be contrary to applicable law. If at any time the Company determines, in its discretion, that the listing,
registration or qualification of Shares upon any national securities exchange or under any state or Federal law, or the consent or approval of any governmental regulatory body, is necessary or desirable, the Company shall not be required to deliver
any certificates for Shares to the Participant or any other person pursuant to this Agreement unless and until such listing, registration, qualification, consent or approval has been effected or obtained, or otherwise provided for, free of any
conditions not acceptable to the Company. 
 (b) It is intended that the Shares received upon the exercise of the Option shall have been
registered under the Securities Act. If the Participant is an “affiliate” of the Company, as that term is defined in Rule 144 under the Securities Act (“Rule 144”), the Participant may not sell the Shares received except in
compliance with Rule 144. Certificates representing Shares issued to an “affiliate” of the Company may bear a legend setting forth such restrictions on the disposition or transfer of the Shares as the Company deems appropriate to comply
with Federal and state securities laws. 
 (c) If at the time of exercise of all or part of the Option, the Shares are not registered
under the Securities Act, and/or there is no current prospectus in effect under the Securities Act with respect to the Shares, the Participant shall execute, prior to the delivery of any Shares to the Participant by the Company pursuant to this
Agreement, an agreement (in such form as the Company may specify) in which the Participant represents and warrants that the Participant is purchasing or acquiring the shares acquired under this Agreement for the Participant’s own account, for
investment only and not with a view to the resale or distribution thereof, and represents and agrees that any 

 
subsequent offer for sale or distribution of any kind of such Shares shall be made only pursuant to either (i) a registration statement on an appropriate form under the Securities Act, which
registration statement has become effective and is current with regard to the Shares being offered or sold; or (ii) a specific exemption from the registration requirements of the Securities Act, but in claiming such exemption the Participant
shall, prior to any offer for sale of such Shares, obtain a prior favorable written opinion, in form and substance satisfactory to the Company, from counsel for or approved by the Company, as to the applicability of such exemption thereto.

 12. Notices. 

All notices by the Participant or the Participant’s successors or permitted assigns shall be addressed to the Company at 900 Metro Center
Blvd., Foster City, California 94404, Attention: Stock Plan Administrator, or such other address as the Company may from time to time specify. All notices to the Participant shall be addressed to the Participant at the Participant’s address in
the Company’s records. 
 13. Other Plans. 
 The Participant acknowledges that any income derived from the exercise of the Option shall not affect the Participant’s participation in, or benefits under, any other benefit plan or other contract or
arrangement maintained by the Company or any Subsidiary or Affiliate. 
 14. Clawback Policy. 

Notwithstanding any other provision of this Agreement to the contrary, any cash incentive compensation received by the Participant, Option granted and/or Shares
issued hereunder, and/or any amount received with respect to any sale of any such Shares, shall be subject to potential cancellation, recoupment, rescission, payback or other action in accordance with the terms of the Company’s Clawback Policy,
as it may be amended from time to time (the “Policy”). The Participant agrees and consents to the Company’s application, implementation and enforcement of (a) the Policy or any similar policy established by the Company that may
apply to the Participant and (b) any provision of applicable law relating to cancellation, rescission, payback or recoupment of compensation, and expressly agrees that the Company may take such actions as are necessary to effectuate the Policy,
any similar policy (as applicable to the Participant) or applicable law without further consent or action being required by the Participant. To the extent that the terms of this Agreement and the Policy or any similar policy conflict, then the terms
of such policy shall prevail. 

 Stock Option Award Agreement (US) - Schedule A 

Notice of Option Grant 
  

			
	Participant:	  	<first_name> <middle_name> <last_name>
		
	Employee ID:	  	<emp_id>
		
	Company:	  	Visa Inc.
		
	Notice:	  	You have been granted the following stock option (the “Option”) to purchase Shares in accordance with the terms of the Visa Inc. 2007 Equity Incentive Compensation Plan (the
“Plan”) and the Stock Option Award Agreement (the “Agreement”) attached hereto.
		
	Type of Award:	  	Nonqualified Stock Option
		
	Grant ID:	  	<award_id>
		
	Grant:	  	 Grant Date: <award_date>
 Option Price per
Share: <award_price>
 Number of Shares under Option: <shares_awarded>

		
	Vesting:	  	 The exercise of your Option is subject to the terms of the Plan and this Agreement. Beginning on each of the following dates, you may exercise
your Option to purchase the corresponding portion of the total number of Shares underlying your Option. You may then exercise your Option to purchase that portion of the Shares at any time until your Option terminates or expires.

 
 Shares on Vesting Date
 <vesting_schedule>
  
 However, in the event of
your termination of employment by the Company without Cause, by you for Good Reason following a Change of Control or due to your death, Disability or Retirement (as those terms are defined in the Agreement), your Option will then immediately become
fully exercisable.

		
	Expiration Date:	  	Your Option will expire ten years from the Grant Date, subject to earlier termination as set forth in the Plan and this Agreement.
		
	Acceptance:	  	If you do not want to accept you Stock Options award, please complete the on­line form (“Accept or Reject Your Grant”) as promptly as possible, but, in any case, within
thirty (30) days after the Grant Date, to reject your Stock Options award. If you do not reject your award within thirty (30) days after the Grant Date, you will have accepted your Stock Options award and agreed to the terms and conditions set forth
in this Agreement and the terms and conditions of the Plan. You can access this on-line form through your account at eac.schwab.com.

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