Document:

exv10w39

 

Exhibit 10.39

NON-QUALIFIED STOCK OPTION AGREEMENT

1997 NORDSTROM STOCK OPTION PLAN

TIME VESTED OPTIONS

     A NON-QUALIFIED STOCK OPTION for the number of shares of Common Stock (hereinafter the
“Option”) as noted on your “Notice of Grant of Stock Options”, of Nordstrom, Inc., a
Washington Corporation (the “Company”), is hereby granted to the “Optionee”, at the price
determined as provided in, and in all respects subject to, the terms, definitions and
provisions of the 1997 Nordstrom Stock Option Plan adopted by the Company, which is
incorporated by reference herein and subject to the following:

	1.	 	Option Price. The option price, being one hundred percent (100%) of the fair market
value as determined by the Committee, of the Common Stock on the date of grant of this
Option, as noted on your “Notice of Grant of Stock Options”.
	 
	2.	 	Vesting and Exercise of Option. This Option shall vest and be exercisable in accordance
with the provisions of the Plan as follows:

	 	(a)	 	Schedule of Vesting and Rights to Exercise.

	 	 	 	 	 
	  Years of Following	 	Percent of
	Grant of Option Right	 	Option
	During year 1
	 	 	0	 
	During year 2
	 	 	25	 
	During year 3
	 	 	50	 
	During year 4
	 	 	75	 
	After year 4
	 	 	100	 

	 	(b)	 	Method of Exercise. This Option shall be exercisable by a
written notice which shall:

(i) state the election to exercise the Option, the number of shares, the
total option price, name, address and social security number of the
Optionee;

(ii) be signed by the person entitled to exercise the Option;

(iii) be in writing and delivered to the Retirement Administration Office.

Payment of the purchase price of any shares with respect to which an
Option is being exercised shall be by check, or may be by means of the
surrender of shares of Common Stock previously held by Optionee, having a
fair market value at least equal to the exercise price. The certificate
or certificates or shares of Common Stock as to which the Option shall be
exercised shall be registered in the name of the person or persons
exercising the Option unless another person is specified Options
hereunder may not at any time be exercised for a fractional number of
shares.

The exercise of this Option shall be in no event restricted by the fact
that at the time of exercise some portion of a previously granted
incentive stock option remains outstanding.

	 	(c)	 	Restrictions on Exercise. This Option may not be exercised
if the issuance of the shares upon such exercise would constitute a violation of
any applicable federal or state securities or other law or valid regulation. As a
condition to the exercise

Revised 9/20/00

 

 

of this Option the Company may require the person exercising the Option to make
any representation and warranty to the Company as the Company’s counsel
believes may be required by any applicable law or regulation.

	3.	 	Non-transferability of Option. This Option may not be sold, pledged, assigned or
transferred in any manner’ otherwise than by will or the laws of descent and distribution,
and may be exercised during the lifetime of the Optionee only by the Optionee or by the
guardian or legal representative of the Optionee. The terms of this Option shall be
binding upon the executors, administrators, heirs, successors, and assigns of the
Optionee.

	4.	 	Termination of Employment. Except as set forth below, this Option may only
be exercised while the Optionee is an employee of the Company. If an Optionee’s employment is
terminated, the Optionee or his or her legal representative shall have the right to exercise
the Option after such termination as follows:

	 	(a)	 	If the Optionee dies, the persons to whom the Optionee’s rights have passed by
will or the laws of descent and distribution may exercise such rights. If this
option was granted at least six (6) months prior to death it shall continue to vest
and may be exercised during the period ending four (4) years after the Optionee’s
death, but in no event later than ten (10) years after the date of grant.
	 
	 	(b)	 	If the Optionee’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 intention act which harms the Company,
such Option, to the extent not exercised as of the date of termination, shall be
terminated as of that date.
	 
	 	(c)	 	If the Optionee’s employment is terminated due to his or her disability, as
defined in Section 22(e)(3) of the Internal Revenue Code, this Option, if granted
at least six (6) months prior to such termination, shall continue to vest and may
be exercised during the period ending four (4) years after termination, but in no
event later than ten (10) years after the date of grant.
	 
	 	(d)	 	If the Optionee’s employment is terminated due to his or her retirement upon
attaining age 50 with 10 years of service to the company or age 60, this Option,
if granted at least six (6) months prior to such termination, shall continue to vest
and may be exercised during the period ending four (4) years after termination, but
in no event later than ten (10) years after its grant.
	 
	 	(e)	 	If the Optionee’s employment is terminated for any reason other than those set
forth in subparagraphs (a), (b), (c) and (d) above, the Optionee may exercise his
or her Option, to the extent exercisable as of the date of his or her termination,
within one hundred (100) days after termination, but in no event later than ten
(10) years after its grant.

	5.	 	Term of Option. This Option may not be exercised more than ten (10) years from the
date of original grant of this option, and may be exercised during such term only in
accordance with the Plan and the terms of this Option.
	 
	6.	 	Adjustments Upon Changes in Capitalization. As provided in the Plan, the number and
kind of shares of Company stock subject to this Option shall be appropriately adjusted
along with a corresponding adjustment in the Option price to reflect any stock dividend,
stock split, split-up or any combination or exchange of shares, however accomplished.
	 
	7.	 	Additional Option. The Stock Option Committee may or may not grant you
additional stock option in the future. Nothing in this grant of option or any future grant
should be construed as suggesting that additional option grants to you will be forthcoming.

Revised 9/20/00

 

 

Nordstrom

Notice of Grant of Long Term Incentive

	 	 
	<XXX>	Employee Number: <XXX>

Stock
Options

On
2/22/00, you were granted an option to buy <XXX> shares of
Nordstrom, Inc. Stock at $21.25 per share under the 1997
Non-Qualified Stock Option Plan as follows:

Time
Vested Shares:

You were granted <XXX> shares that vest on a
four year 25% vesting schedule as follows:

	 	 	 	 	 	 
	Date	 	 	 	Vest Percent
	 	 	 	 	 
	2/22/01	 	 	 	25%	 
	2/22/02	 	 	 	50%	 
	2/22/03	 	 	 	75%	 
	2/22/04	 	 	 	100%	 

Stock
Units

Performance
Stock Units:

On 2/22/00, you were granted <XXX> Nordstrom stock units that
will vest on 2/22/03, based on the schedule listed below. Vesting is
based on the company’s performance relative to retailers in the
competitor group.

Reward
Schedule:

	 	 	 	 	 	 
	Percentile	 	 	Vest Percent
	 	 	 	 
	<= 50	 	 	 	0%	 
	> 50	 	 	 	75%	 
	> 65	 	 	 	85%	 
	> 75	 	 	 	100%	 
	> 85	 	 	 	125%	 

Any
shares that remain unvested at 1/31/03 will be forfeited. Any vested
units may be paid in the following ways: as cash, in the form of a
Nordstrom Stock Certificate, or the stock units can be deferred into
your Executive Deferred Compensation Plan account.

By
your signature and the Company’s signature below, you and the
Company agree that the option and stock units are granted under and
governed by the terms and conditions of the Company’s 1997
Non-Qualified Stock Option Plan and the Option Agreement.

	 	 	 
	 	 	 
	Nordstrom, Inc.	 	Date
	 
	 	 	 
	Employee Signature	 	Dateexv10w40

 

Exhibit 10.40

NON-QUALIFIED STOCK OPTION AGREEMENT

1997 NORDSTROM STOCK OPTION PLAN
TIME VESTED OPTIONS

	A NON-QUALIFIED STOCK OPTION for the number of shares of Common Stock (hereinafter the “Option”)
as noted on your “Notice of Grant of Stock Options,” of Nordstrom, Inc., a Washington Corporation
(the “Company”), is hereby granted to the “Optionee,” at the price determined as provided in and
in all respects subject to, the terms, definitions and provisions of the 1997 Nordstrom Stock
Option Plan (the “Plan”) adopted by the Company, which is incorporated by reference herein and
subject to the following:

	1.	 	Option Price. The option price, being one hundred percent (100%) of the fair market
value as
determined by the New York Stock Exchange closing price on the date of the grant, of the Common
Stock of this Option, as noted on your “Notice of Grant of Stock
Options”.

	2.	 	Vesting and Exercise of Option. This Option shall vest and be exercisable in
accordance with the
provisions of the Plan as follows:

	 	(a)	 	Schedule of Vesting and Rights to Exercise.

	 	 	 	 	 
	  Years of Following	 	Percent of
	Grant of Option Right	 	Option
	During year 1

	 	 	0	 
	During year 2

	 	 	25	 
	During year 3

	 	 	50	 
	During year 4

	 	 	75	 
	After year 4

	 	 	100	 

	 	(b)	 	Method of Exercise. This Option shall be exercisable by a written notice
which shall:

(i) state the election to exercise the Option, the number of shares, the total option
price,
name, address and social security number of the Optionee;

(ii) be signed by the person entitled to exercise the Option; and

(iii) be in writing and delivered to the Executive Benefits Department.

Alternatively, the Company may require that all or certain stock option exercises be
made through a designated stock broker. Procedures for such exercise shall be
disseminated to the Optionee.

Payment of the purchase price of any shares with respect to which an Option is being
exercised shall be by check or may be by means of the surrender of shares of Common
Stock previously held by Optionee, having a fair market value at least equal to the
exercise price. The certificate or certificates or shares of Common Stock as to which
the Option shall be exercised shall be registered in the name of the person or
persons exercising the Option unless another person is specified. Options hereunder
may not at any time be exercised for a fractional number of shares.

	 	(c)	 	Restrictions on Exercise. This Option may not be exercised if the issuance of
the shares
upon such exercise would constitute a violation of any applicable federal or state
securities or other law or valid regulation. As a condition to the exercise of this
Option the Company may
require the person exercising the Option to make any representation and warranty to the

Revised 2/27/2001

(OVER)

 

 

Company as the Company’s counsel believes may be required by any applicable law or
regulation.

	3.	 	Non-transferability of Option. This Option may not be sold, pledged, assigned or
transferred in
any manner otherwise than by will or the laws of descent and distribution, and may be exercised
during the lifetime of the Optionee only by the Optionee or by the guardian or legal
representative of
the Optionee. The terms of this Option shall be binding upon the executors, administrators,
heirs,
successors, and assigns of the Optionee.

	4.	 	Termination of Employment. Except as set forth below, this Option may only
be exercised while
the Optionee is an employee of the Company. If an Optionee’s employment is terminated, the
Optionee or his or her legal representative shall have the right to exercise the Option after
such
termination as follows:

	 	(a)	 	If the Optionee dies, the persons to whom the Optionee’s rights have passed by
will or the
laws of descent and distribution pay exercise such rights. If this option was granted at
least
six (6) months prior to death it shall continue to vest and may be exercised during the
period
ending four (4) years after the Optionee’s death, but in no event later than ten (10)
years after
the date of grant.
	 
	 	(b)	 	If the Optionee’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 intention act which harms the Company, such Option, to the extent not
exercised as of the date of termination, shall be terminated as of that date.
	 
	 	(c)	 	If the Optionee’s employment is terminated due to his or her disability, as
defined in Section
22(e)(3) of the Internal Revenue Code, this Option, if granted at least six (6) months
prior to
such termination, shall continue to vest and may be exercised during the period ending
four
(4) years after termination, but in no event later than ten (10) years after the date of
grant.
	 
	 	(d)	 	If the Optionee’s employment is terminated due to his or her retirement upon
attaining age
50 with 10 years of service to the company or age 60, this Option, if granted at least
six (6)
months prior to such termination, shall continue to vest and may be exercised during the
period ending four (4) years after termination, but in no event later than ten (10)
years after
its grant.
	 
	 	(e)	 	If the Optionee’s employment is terminated for any reason other than those set
forth in
subparagraphs (a), (b), (c) and (d) above, the Optionee may exercise his or her Option,
to the
extent exercisable as of the date of his or her termination, within one hundred (100)
days
after termination, but in no event later than ten (10) years after its grant.

	5.	 	Term of Option. This Option may not be exercised more than ten (10) years from the
date of
original grant of this option and may be exercised during such term only in accordance with the Plan
and the terms of this Option.
	 
	6.	 	Adjustments Upon Changes in Capitalization. As provided in the Plan, the number and kind of
shares of Company stock subject to this Option shall be appropriately adjusted along with a
corresponding adjustment in the Option price to reflect any stock dividend, stock split split-up
or
any combination or exchange of shares, however accomplished.
	 
	7.	 	Additional Option. The Stock Option Committee may or may not grant you additional
stock option
in the future. Nothing in this grant of option or any future grant should be construed as
suggesting
that additional option grants to you will be forthcoming.

Revised 2/27/2001

 

 

NOTICE OF GRANT OF STOCK OPTIONS

Nordstrom, Inc

1321 Second Avenue

Seattle, WA 98101

<NAME>

On
February 27, 2001, Nordstrom, Inc. awarded you <shares
granted> non-qualified stock options to purchase
shares of Nordstrom, Inc. stock at $19.00 per share.

Your option will vest over a four-year period according to the following schedule:

	 	 	 	 	 	 	 	 	 
	Shares	 	Vest Date	 	Expiration
	( Shares )
	 	 	2/27/2002	 	 	 	2/27/2011	 
	( Shares )
	 	 	2/27/2003	 	 	 	2/27/2011	 
	( Shares )
	 	 	2/27/2004	 	 	 	2/27/2011	 
	( Shares )
	 	 	2/27/2005	 	 	 	2/27/2011	 

Please keep this Notice for your records You are not required to return this or any other
document to Nordstrom, Inc. in connection with your grant.

If you have any questions about your grant, please call the Executive Benefit Department at (206)
233-5526 or tie line 8-891-5526

 

 

NOTICE OF GRANT OF STOCK OPTIONS

Nordstrom, Inc.

1321 Second Avenue

Seattle, WA 98101

 

<NAME>

 

On August 20, 2001, Nordstrom, Inc. awarded you <number of shares> non-qualified
stock options to purchase shares of Nordstrom, Inc. stock at $21.00 per share.

Your option will vest over a four-year period according to the following schedule:

	 	 	 	 	 	 	 	 	 
	 	 	Shares	 	Vest Date	 	Expiration	 	 
	 
	 	<shares1>
	 	08/20/2002
	 	08/20/2011
	 	 
	 
	 	<shares2>
	 	08/20/2003
	 	08/20/2011	 	 
	 
	 	<shares3>
	 	08/20/2004
	 	08/20/2011	 	 
	 
	 	<shares4>
	 	08/20/2005
	 	08/20/2011	 	 

Please keep this Notice for your records. You are not required to return this or any other
document to Nordstrom, Inc. in connection with your grant.

If you have any questions about your grant, please call the Executive Benefit Department at (206)
233-5526 or tie line 8-891-5526. After August 30, 2001, please call (206) 303-5855 or tie line
8-805-5855.

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