Document:

EX-10.1

 Exhibit 10.1 
  

 
 A NONQUALIFIED STOCK OPTION GRANT (hereinafter the “Option”) for the number of shares of Nordstrom Common Stock
(“Common Stock”), as noted in the 2015 Notice of Grant of Stock Options (the “Notice”), of Nordstrom, Inc., a Washington Corporation (the “Company”), is hereby granted to the Recipient (“Optionee”) on the date
set forth in the Notice, subject to the terms and conditions of this Agreement. The Option is 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 Option is subject to the following terms and conditions: 

 

	1.	OPTION EXERCISE PRICE 

  

	    	The option exercise price is one hundred percent (100%) of the fair market value of a share of Common Stock as determined by the closing price of Common Stock on the New York Stock Exchange on the date of grant.
For this purpose, the date of grant is indicated in the Notice and reflects either the date the Compensation Committee approves the grant, or if this date falls within a closed trading period, the first trading day thereafter that falls within an
open trading window. 

  

	2.	VESTING AND EXERCISING OF OPTION 

  

	    	Except as set forth in Section 5, the Option shall vest and be exercisable pursuant to the terms of the vesting schedule set forth in the Notice. 

 

	 	(a)	Method of Exercise. The Option shall be exercisable (only to the extent vested) by a written notice in a form prescribed by the Company that shall: 

 

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

 

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

  

	 	(iii)	be in writing and delivered to Nordstrom Leadership Benefits (either directly or through a broker). 

  

	 	(b)	Payment upon Exercise. Payment of the option exercise price for any shares with respect to which an Option is being exercised shall be by: 

 

	 	(i)	check or bank wire transfer, or 

  

	 	(ii)	giving an irrevocable direction for a broker approved by the Company to sell all or part of the Option shares and to deliver to the Company from the sale proceeds an amount sufficient to pay the option exercise price
and any amount required to be withheld to meet the Company’s minimum statutory withholding requirements, including the employee’s share of payroll taxes. (The balance of the sale proceeds, if any, will be delivered to the Optionee.)

  

	    	The certificate(s) or shares of Common Stock as to which the Option shall be exercised shall be registered in the name of the person(s) exercising the Option unless another person is specified. An Option hereunder may
not at any time be exercised for a fractional number of shares.

	 	(c)	Restrictions on Exercise. The 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, or
the Company’s Insider Trading Policy. As a condition to the exercise of the Option, the Company may require the person exercising the Option to make any representation and warranty to the Company as the Company’s counsel advises and as may
be required by the Company or by any applicable law or regulation. 

  

	3.	ACCEPTANCE OF OPTION 

  

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

 

	4.	NONTRANSFERABILITY OF OPTION 

  

	    	The Option may not be sold, pledged, assigned or transferred in any manner except in the event of the Optionee’s death. In the event of the Optionee’s death, the Options 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 Optionee’s rights have passed by will or the laws of descent and distribution. Except
as set forth in Section 5, the Option 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 Agreement shall be binding upon the executors,
administrators, heirs and successors of the Optionee. 

  

	5.	SEPARATION OF EMPLOYMENT 

  

	    	Except as set forth in this section, a vested 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 while employed by the Company, and the option was granted at least six months prior to the date of the Optionee’s death, it
shall immediately vest and may be exercised during the period ending four years after the Optionee’s death. The recipient named on the Optionee’s Beneficiary Designation

 

  
 Page 1 of 3

	 	
form may exercise such rights. If no valid Beneficiary Designation form is on file with the Company, then the person to whom the Optionee’s rights have passed by will or the laws of descent
and distribution may exercise such rights. In no event may the Option be exercised more than 10 years from the date of grant. If the Option was granted less than six months prior to death, such Option shall be forfeited as of the date of death.

  

	 	(b)	If the Optionee 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”), the Option was granted at least six months prior to
such separation and the Optionee provides Nordstrom Leadership Benefits with reasonable documentation of the Optionee’s disability, the option shall immediately vest as of the date of such separation and may be exercised during the period
ending four years after separation. In no event may the Option be exercised more than 10 years from the date of grant. If the Option was granted less than six months prior to separation due to the Optionee’s disability, such Option shall be
forfeited as of the date of separation. 

  

	 	(c)	If the Optionee terminates employment after having met any of the requirements set forth below, and the Option was granted at least six months prior to the termination date, the Option shall continue to vest in
accordance with the terms of the Notice and may be exercised during the period ending four years after separation notwithstanding such termination of employment: 

  

	 	(i)	the Optionee was born on or before March 3, 1956 and the Optionee was eligible for and received a grant under the Plan in 2014; 

 

	 	(ii)	the Optionee was born on or before March 3, 1961, but after March 3, 1956, and as of March 3, 2014 had 10 continuous years of service to the Company from the most recent hire date with the Company or a
Company subsidiary and the Optionee was eligible for and received a grant under the Plan in 2014; or 

  

	 	(iii)	the Optionee has attained age 55 with 10 continuous years of service to the Company from the most recent hire date with the Company or a Company subsidiary. 

 

	 	    	In no event may the Option be exercised more than 10 years from the date of grant. If the Option was granted less than six months prior to the termination date, such Option shall be forfeited as of the date of
termination. 

  

	 	(d)	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 intentional act that
harms the Company, such Option, to the extent not exercised as of the date of termination, shall be forfeited as of that date. 

  

	 	(e)	If the Optionee is separated for any reason other than those set forth in subparagraphs (a), (b), (c) and (d) above, the Optionee (or Optionee’s beneficiary) may exercise his or her Option, to the extent
vested as of the date of his or her separation, within 100 days after separation. In no event may the Option be exercised more than 10 years from the date of grant. Any unvested options will be forfeited as of the date of separation.

  

	    	Notwithstanding anything above to the contrary, if at any time during the Optionee’s employment or in the period during which the Option is exercisable, the Optionee 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 vesting and exercise
rights of the Option set forth above shall cease immediately, and all outstanding vested and unvested portions of the Option shall be immediately forfeited. 

  

	6.	TERM OF OPTION 

  

	    	The Option may not be exercised more than 10 years from the date of grant of the Option, and the vested portion of such Option may be exercised during such term only in accordance with the Plan and the terms of the
Option. 

  

	7.	ADJUSTMENTS UPON CHANGES IN CAPITALIZATION 

  

	    	The number and kind of Common Stock subject to the Option shall be appropriately adjusted, pursuant to the Plan, along with a corresponding adjustment in the option exercise price to reflect any stock dividend, stock
split, split-up, extraordinary dividend distribution, or any combination or exchange of shares, however accomplished. 

  

	8.	ADDITIONAL OPTIONS 

  

	    	The Compensation Committee may or may not grant the Optionee additional Options in the future. Nothing in this Option or any future grant should be construed as suggesting that additional grants to the Optionee will be
forthcoming. 

  

	9.	LEAVES OF ABSENCE 

  

	    	For purposes of this Agreement, the Optionee’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 Optionee immediately returns to active work. 

 

	    	If the Optionee goes on a leave of absence approved by the Company, then the vesting schedule specified in the Notice may be adjusted in accordance with the Company’s leave of absence policy or the terms of the
leave. 

  

	10.	TAX WITHHOLDING 

  

	    	In the event that the Company determines that it is required to withhold any tax as a result of the exercise of the Option, the Optionee, as a condition to the exercise of their Option, shall make arrangements
satisfactory to the Company to enable it to satisfy all withholding requirements. 

  

	11.	RIGHTS AS A SHAREHOLDER 

  

	    	Neither the Optionee nor the Optionee’s beneficiary or representative shall have any rights as a shareholder with respect to any Common Stock subject to the Option, unless and until (i) the Optionee or the
Optionee’s beneficiary or representative becomes entitled to receive such Common Stock by filing a notice of exercise and paying the option exercise price pursuant to the Option, and (ii) the Optionee or Optionee’s beneficiary or
representative has satisfied any other requirement imposed by applicable law or the Plan. 

 

  
 Page 2 of 3

	12.	NO RETENTION RIGHTS 

  

	    	Nothing in this Agreement or in the Plan shall give the Optionee 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 Optionee’s service at any time, with or without cause. 

  

	13.	CLAWBACK POLICY 

  

	    	The Option, and any proceeds (Common Stock or cash) received in connection with the exercise of the Option 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 Option, or with respect to the proceeds received in connection with the exercise of the Option or subsequent sale of Common Stock issued
pursuant to the Option, then the Option grant subject to this Agreement shall be deemed unenforceable due to lack of adequate consideration. 

  

	14.	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 Optionee 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 Optionee, 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. 

  

	15.	CHOICE OF LAW 

  

	    	This Agreement shall be governed by, and construed in accordance with, the laws of the State of Washington, without regard to principles of conflicts of laws, as such laws are applied to contracts entered into and
performed in such State. 

  

	16.	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. 

  

	17.	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 Common Stock provided under this Agreement is made in a manner that complies with Section 409A of the Code, together with regulatory guidance issued thereunder.

 

  
 Page 3 of 3EX-10.2

 Exhibit 10.2 
  

 
 AN AWARD (“Award”) OF RESTRICTED STOCK UNITS (“Units”), representing a number of shares of Nordstrom
Common Stock (“Common Stock”) as noted in the 2015 Notice of Award of Restricted Stock 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 Units are subject to the following terms and conditions: 

 

	1.	VESTING AND CONVERSION OF UNITS 

  

	    	Unless otherwise specified within this Agreement, the Units will vest and automatically convert into Common Stock according to the applicable terms set forth in the Notice. For the avoidance of doubt, only Common Stock
shall be deliverable upon the vesting of the Units, not cash. The Company shall not be required to issue fractional shares of Common Stock upon conversion of the Units into Common Stock. The delivery of Common Stock on vesting of the Units is
intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), together with regulatory guidance issued thereunder, and shall occur as soon as practicable after the applicable vesting date.

  

	2.	ACCEPTANCE OF UNITS 

  

	    	Whether or not the Company requires the Unit holder to accept the Award, if the Unit holder takes no action to accept the Award, the Unit holder is deemed to have accepted the Award and will be 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, Common Stock may be delivered in respect of the Units during the lifetime of the Unit holder only to the Unit holder or to the guardian or legal representative of the Unit holder. The terms of the Agreement
shall be binding on the executors, administrators, heirs and successors of the Unit holder. 

  

	4.	SEPARATION OF EMPLOYMENT 

  

	    	Except as set forth in this section, the Units will vest, and shares of Common Stock will be delivered in respect of the Units, only if the Unit holder is an employee of the Company on the vesting date. If the Unit
holder’s employment with the Company is terminated, the Units will vest only as follows:

	 	(a)	If the Unit holder dies while employed by the Company and the Units were granted at least six months prior to the date of the Unit holder’s death, any Units represented by the Award shall immediately vest as of the
date of the Unit holder’s death and be delivered as Common Stock promptly thereafter. Shares shall be issued in the name of the person identified on the Unit holder’s Beneficiary Designation form on file with the Company. If no valid
Beneficiary Designation form is on file with the Company, then the Common Stock delivered pursuant to the preceding sentence shall be issued in the name of the person to whom the Unit holder’s rights under this Agreement have passed by will or
the laws of descent and distribution. If the Units were granted less than six months prior to death, the Units shall be forfeited as of the date of death. 

  

	 	(b)	If the Unit holder is separated due to his or her disability, as defined in Section 22(e)(3) of the Code, the Units were granted at least six months prior to such separation and the Unit holder provides Nordstrom
Leadership Benefits with reasonable documentation of his or her disability, any Units represented by this Award shall immediately vest as of the date of such separation and be delivered as Common Stock promptly thereafter. 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. 

  

	 	(c)	If the Unit holder terminates employment after having met any of the requirements set forth below, and the Units were granted at least six months prior to the termination date, the Units shall continue to vest in
accordance with the terms of the Notice notwithstanding such termination of employment: 

  

	 	(i)	the Unit holder was born on or before March 3, 1956 and the Unit holder was eligible for and received a grant under the Plan in 2014; 

 

	 	(ii)	the Unit holder was born on or before March 3, 1961, but after March 3, 1956, and as of March 3, 2014 had 10 continuous years of service to the Company from the most recent hire date with the Company or a
Company subsidiary and the Unit holder was eligible for and received a grant under the Plan in 2014; or 

 

  
 Page 1 of 3

	 	(iii)	the Unit holder has attained age 55 with 10 continuous years of service to the Company from the most recent hire date with the Company or a Company subsidiary. 

 

	 	    	If the Units were granted less than six months prior to termination, the Units shall be forfeited as of the date of termination. 

  

	 	(d)	Notwithstanding subparagraphs (a), (b) and (c) of this Section, 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 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) or (d) above, then all Units represented by this Award shall be forfeited as of the date of the Unit
holder’s separation. 

  

	    	Notwithstanding anything above to the contrary, if at any time during the term of the Unit holder’s employment with the Company, 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 information; or improperly uses any confidential or proprietary information of the Company, then any Units represented by this Award and any Common Stock
delivered on vesting of such Units shall be immediately forfeited. 

  

	5.	ADJUSTMENTS UPON CHANGES IN CAPITALIZATION 

  

	    	The number and kind of Common Stock which may be delivered on vesting of the Units 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. 

  

	6.	NO DIVIDEND RIGHTS 

  

	    	Except to the extent required pursuant to Section 5 of this Agreement, ownership of Units shall not entitle the Unit holder to receive any dividends declared with respect to Common Stock. 

 

	7.	ADDITIONAL UNITS 

  

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

  

	8.	LEAVES OF ABSENCE 

  

	    	For purposes of this Agreement, 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 

  

	    	No stock certificates will be distributed to the Unit holder 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. 

  

	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 which may be issuable upon vesting and conversion of the Units,
unless and until the Units vest and Common Stock has been issued and any other requirements imposed by applicable law or the Plan have been satisfied. 

  

	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 other 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 Common Stock delivered upon vesting of the Units and the proceeds from any sale of such Common Stock, shall be subject to the Clawback Policy adopted by the 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 Common Stock deliverable or delivered upon vesting of the Units, 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. 

 

  
 Page 2 of 3

	14.	CHOICE OF LAW 

  

	    	This Agreement shall be governed by, and construed in accordance with, the laws of the State of Washington without regard to principles of conflicts of laws, 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 Common Stock provided under this Agreement is made in a manner that complies with Section 409A of the Code, together with regulatory guidance issued thereunder.

 

  
 Page 3 of 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00240-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00240-of-00352.parquet"}]]