Document:

EX-10.17

 Exhibit 10.17 
 AMENDED AND RESTATED 
 ADMINISTRATIVE SERVICES AGREEMENT 

[BLACKHAWK SERVICES TO SAFEWAY] 
 THIS AMENDED AND RESTATED ADMINISTRATIVE SERVICES AGREEMENT is made this 15th day of March 2013 (the “Effective Date”), between Safeway Inc., a Delaware corporation
(“Safeway”), and Blackhawk Network, Inc., an Arizona corporation (“Blackhawk”). 

WHEREAS, Blackhawk and Safeway previously entered into that certain Administrative Services Agreement (the “Previous
Agreement”) made June 2, 2008 and made effective as of January 1, 2006 (the “Previous Agreement Effective Date”); 
 WHEREAS, Blackhawk previously entered into a sublease (the “Sublease”) from Safeway of the premises commonly known as 6220 Stoneridge Mall Road, Pleasanton, CA 94588 (the
“Facility”) and, under a separate administrative services agreement, Safeway has provided certain facilities management and administrative services to Blackhawk with respect to the Facility; 

WHEREAS, during the term of the Sublease Blackhawk has occupied an increasing percentage of the Facility and Blackhawk now is able to
provide certain of the facilities management and administrative services to Safeway with respect to the Facility; and 

WHEREAS, Safeway wishes to engage the services of Blackhawk, and Blackhawk wishes to be retained by Safeway, to provide certain services,
all in accordance with the terms of this Agreement. 
 NOW THEREFORE the parties covenant and agree as follows: 

1. Definitions. In this Agreement, unless the context otherwise requires: 
 (a) “Affiliate” means, with respect to a party, any firm, corporation, partnership, limited liability partnership, limited liability company, or other entity that now or in the
future, directly controls, is controlled with or by or is under common control with a party. For purposes of the foregoing, “control” means: (i) where applicable, ownership directly of fifty percent (50%) or more of the voting
power to elect directors thereof; or otherwise (ii) the power to direct the management of such entity. 
 (b)
“Agreement” means this Amended and Restated Administrative Services Agreement including all recitals and exhibits. 
 (c) “Fiscal Year” means the 52-53 week period ending on the Saturday closest to December 31 that is divided into thirteen 4-week periods (each, a “Fiscal
Period”). 
 (d) “Service” means any one or more of the administrative services available
from Blackhawk and described on Exhibit A hereto and as requested by Safeway of Blackhawk from time to time. 
 2.
Interpretation. In this Agreement, unless the context otherwise requires: 
 (a) words importing the singular number only
shall include the plural and vice versa, words importing any gender shall include all genders and words importing persons shall 

  
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include companies, corporations, partnerships, syndicates, trusts and any aggregate of persons; 
 (b) all references to “party” or “parties” refer to the parties to this Agreement; 
 (c) references to a Section or exhibit are to a Section of or exhibit to this Agreement; 
 (d) any reference to a statute or regulation refers to that statute or regulation as amended or re-enacted from time to time; 
 (e) where a period of time is prescribed, dated or calculated from a date or event, the time shall be calculated excluding such date, or the date on which such event occurred; 

(f) any reference to cancellation or termination shall be interpreted as preserving all of the rights, obligations and liabilities
existing, arising, accrued or accruing at or prior to the time of such cancellation or termination; and 
 (g) all monetary
amounts are in the lawful currency of the United States. 
 3. Engagement and Term. 

(a) Commencing on and after the Effective Date, Safeway hereby retains the services of Blackhawk and Blackhawk agrees to provide the
Services to Safeway in accordance with and subject to the terms of this Agreement. 
 (b) The engagement shall commence on the
Effective Date and continue until the end of Fiscal Year 2013 (December 28, 2013) unless earlier terminated pursuant to this Agreement, and will automatically renew for successive periods of one (1) Fiscal Year until terminated by either party
on not less than ten (10) days written notice prior to the next Fiscal Year end. Notwithstanding the foregoing, Safeway may terminate any specific Service and/or this Agreement, without penalty, with thirty (30) days prior written notice
to Blackhawk. Blackhawk may terminate any specific Service and/or this Agreement with thirty (30) days prior written notice to Safeway provided that if Safeway desires to continue to receive the same or a similar Service and, using its
commercially reasonable efforts, is unable to either perform the Services itself or enter into a reasonable arrangement with a third party to perform the Services that Safeway will not perform itself, then Safeway will so notify Blackhawk and
Blackhawk will continue to perform such Service(s) for an additional period of thirty (30) days. 
 (c) A party may
terminate this Agreement by giving to the other party written notice of such termination upon the other party’s (a) material breach of any material term (subject to the other party’s right to cure such breach within thirty
(30) days (or five (5) business days in the case of a payment breach) after receipt of such notice); or (b) insolvency, or the institution of any insolvency, assignment for the benefit of creditors, bankruptcy or similar proceedings
by or against the other party. 
 4. Provision of Services. 
 (a) Blackhawk shall provide to Safeway and its Affiliates the Services as requested by Safeway from time to time. 

  
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 (b) Blackhawk shall ensure that its systems properly support the Services and that its
personnel (whether employees or contractors) are appropriately trained and capable to deliver the Services to Safeway and its Affiliates accurately, timely and in a professional manner. Blackhawk and each such person assisting Blackhawk shall devote
sufficient time and attention to the Services to ensure that all requested assistance is given in a commercially reasonable manner. 
 (c) Blackhawk agrees that, if requested by Safeway, Blackhawk will enter into a reasonable service level agreement with Safeway regarding one or more of the Services. 

5. Confidentiality.  
 (a) For purposes hereof, “Confidential Information” of a party shall mean the terms of this Agreement and all information or material that (i) gives that party some
competitive business advantage or the opportunity of obtaining such advantage or the disclosure of which could be detrimental to the interests of that party; or (ii) is either (A) marked “Confidential,” “Restricted,” or
“Proprietary Information” or other similar marking, (B) known by the parties to be considered confidential and proprietary, whether or not marked as such, or (C) from all the relevant circumstances should reasonably be assumed to
be confidential and proprietary, whether or not marked as such. Notwithstanding the foregoing, Confidential Information shall not include information that: (i) is or becomes generally known to the public by any means other than a breach of the
obligations of a receiving party; (ii) was previously known to the receiving party or rightly received by the receiving party from a third party; or (iii) is independently developed by the receiving party without reference to information
received from the other party. 
 (b) Unless otherwise provided under this Section, each party agrees to hold the
other party’s Confidential Information in strict confidence in perpetuity. The parties agree not to make each other’s Confidential Information available in any form to any person or to use each other’s Confidential Information for any
purpose other than the implementation of, and as specified in, this Agreement. Each party agrees to take all reasonable steps to ensure that Confidential Information of either party is not disclosed or distributed by its employees, agents or
contractors in violation of the provisions of this Agreement. This Section 5 supplements and does not supersede any existing non-disclosure or confidentiality agreements between the parties. 

(c) In the event any Confidential Information is required to be disclosed by a receiving party under the terms of a valid
and effective subpoena or order issued by a court of competent jurisdiction, or by a demand or information request from an executive or administrative agency or other governmental authority, the receiving party requested or required to disclose such
Confidential Information shall, unless prohibited by the terms of a subpoena, order, or demand, promptly notify the disclosing party of the existence, terms and circumstances surrounding such demand or request, shall consult with the disclosing
party on the advisability of taking legally available steps to resist or narrow such demand or request, and, if disclosure of such Confidential Information is required, shall exercise its reasonable best efforts to narrow the scope of disclosure and
obtain an order or other reliable assurance that confidential treatment will be accorded to such Confidential Information. To the extent the receiving party is prohibited from notifying the disclosing party of a subpoena, order or demand, by the
terms of same, the receiving party shall exercise its reasonable efforts to narrow the scope of disclosure. 

  
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 (d) Safeway’s Confidential Information shall remain the sole and
exclusive property of Safeway, and Blackhawk’s Confidential Information shall remain the sole and exclusive property of Blackhawk. 
 (e) Privacy and Consumer Data. Each party covenants that any collection, storage, disclosure, transfer or use of personal information (including any information about an identifiable individual)
will comply with all applicable federal, provincial, state, municipal or other laws governing the collection, storage or use of personal information. 
 6. Title to Intellectual Property. The parties agree that any Intellectual Property developed by or on behalf of Blackhawk following the Previous Agreement Effective Date for the primary
purpose of providing the Services to Safeway and any Intellectual Property of Safeway made available to Blackhawk in connection with the Services, and any derivative works, additions, modifications or enhancements thereof created by or on behalf of
Blackhawk, are and shall remain the sole property of Safeway. Blackhawk agrees not to use Intellectual Property of Safeway for any purpose other than in connection with the provision of Services. To the extent that Blackhawk uses its own
Intellectual Property in connection with providing the Services and such Intellectual Property was developed either prior to or following the Previous Agreement Effective Date for a purpose other than the provision of the Services, such Intellectual
Property, and any derivative works, additions, modifications or enhancements thereof created during the term hereof shall remain the sole property of Blackhawk. For purposes of this Section 6, the term “Intellectual
Property” means all data, information, look and feel, user interface, tools, software, trademarks, copyright, technologies, business processes, know-how and other intellectual property and proprietary information of a party. 

7. Indemnities.  
 (a)
Blackhawk shall indemnify, defend and hold harmless Safeway and its shareholders, officers, directors, employees, agents, Affiliates, parents and subsidiaries, and each of the successors and assigns of any of the foregoing (the “Safeway
Indemnified Parties”), from and against any and all costs and expenses, losses, damages, claims, causes of action and liabilities (including reasonable attorneys’ fees, disbursements and expenses of litigation) incurred by or
asserted against the Safeway Indemnified Parties (other than as to any claim brought by Blackhawk against Safeway) arising from, relating to, or in any way connected with (i) Blackhawk’s breach of its obligations under this Agreement,
except to the extent that such shall be caused by the wilful misconduct, gross negligence or bad faith of Safeway, or (ii) any act or omission by Blackhawk or its Affiliates that is in violation of any provision of this Agreement or any
applicable laws or regulations. 
 (b) Safeway shall indemnify, defend and hold harmless Blackhawk and its shareholders,
officers, directors, employees, agents, Affiliates, parents and subsidiaries, and each of the successors and assigns of any of the foregoing (the “Blackhawk Indemnified Parties”), from and against any and all costs and
expenses, losses, damages, claims, causes of action and liabilities (including reasonable attorneys’ fees, disbursements and expenses of litigation) incurred by or asserted against the Blackhawk Indemnified Parties (other than as to any claim
brought by Safeway against Blackhawk) arising from, relating to, or in any way connected with (i) Safeway’s breach of its obligations under this Agreement, except to the extent that such shall be caused by the wilful misconduct, gross
negligence or bad faith of Blackhawk, or (ii) any act or omission by Safeway or its Affiliates that is in violation of any provision of this Agreement or any applicable laws or regulations. 

  
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 (c) Each party claiming indemnity shall promptly provide the other party with written notice
of any claim, action or demand for which indemnity is claimed. The indemnifying party shall be entitled to control the defense of any action, provided that the indemnified party may participate in any such action with counsel of its choice at its
own expense. The indemnified party shall provide reasonable cooperation in the defense as the indemnifying party may request and at the indemnifying party’s expense. No indemnifying party may settle a claim against an indemnified party without
the prior written consent of such indemnified party or a complete release of claims against the indemnified party. 
 (d) EXCEPT
IN CONNECTION WITH (I) ANY ACT OF FRAUD OR INTENTIONAL WRONG-DOING BY A PARTY, (II) ANY CLAIM THAT IS SUBJECT TO INDEMNIFICATION UNDER SECTION 7, OR (III) ANY CLAIM THAT ARISES OUT OF A BREACH OF CONFIDENTIALITY, IN NO EVENT SHALL EITHER PARTY
OR ANY OF THEIR OFFICERS, DIRECTORS, MEMBERS, SHAREHOLDERS, EMPLOYEES, AFFILIATES, OR SUPPLIERS BE LIABLE TO THE OTHER PARTY, WHETHER IN CONTRACT, TORT, EQUITY OR OTHERWISE, FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, PUNITIVE OR EXEMPLARY
DAMAGES (EVEN IF SUCH DAMAGES ARE FORESEEABLE, AND WHETHER OR NOT THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES) RELATING TO, ARISING FROM OR UNDER, OR IN ANY WAY CONNECTED WITH THIS AGREEMENT. 

8. Cost for Services. 

(a) In consideration of the Services provided by Blackhawk to Safeway as detailed in this Agreement, Safeway shall pay Blackhawk in
accordance with Exhibit A for the Services identified therein 
 (b) Blackhawk shall, within thirty (30) days
after the end of each Fiscal Period, deliver to Safeway an invoice for Services rendered and all disbursements made on Safeway’s behalf during the immediately preceding Fiscal Period, which shall be accompanied by reasonable documentation or
explanation supporting such charges. 
 (c) Amounts payable by Safeway to Blackhawk pursuant to Section 8(a) shall accrue
throughout each Fiscal Period and shall be paid by Safeway within thirty (30) days after receipt of Blackhawk’s invoice therefor. 

9. Notices. 
 (a) All
notices, demands, consents, approvals or other communications provided for or permitted under this Agreement (collectively referred to as “notices”) shall be in writing, personally delivered or delivered by reputable courier to an officer
or other responsible employee of the addressee or sent by registered mail, charges prepaid, or by facsimile to the applicable address set forth below or to such other address as a party to this Agreement may from time to time designate in such
manner. Any notice so personally delivered or couriered shall be considered to have been validly and effectively given on the actual date of such delivery. Any notice so sent by registered mail shall be considered to have been validly and
effectively given on the fifth day (excluding Saturdays, Sundays and statutory holidays at the address to which it is sent) following the day on which it is sent, as evidenced by the postal receipt. Any notice so sent by

  
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facsimile shall be considered to have been validly and effectively given on the day (excluding Saturdays, Sundays and statutory holidays at the address to which it is sent) following the day on
which it is actually received. If the party giving any demand, notice or other communication knows or ought reasonably to know of any difficulties with the postal system that might affect the delivery of mail, any such demand, notice or other
communication shall not be mailed but shall be given by personal delivery, courier or facsimile. 
 To Blackhawk at: 

Blackhawk Network, Inc. 
 5918 Stoneridge Mall Road 
 Pleasanton, CA 94588 

Attention: General Counsel 
 To Safeway at: 
 Safeway Inc. 

5918 Stoneridge Mall Road 
 Pleasanton, CA 94588 
 Attention: General Counsel 

10. Audit Rights. Each party shall have the right, during the term of this Agreement and for a period of one (1) year thereafter, to inspect
and audit the other party’s records relating to such other party’s performance hereunder to ensure compliance with this Agreement. Any audit will be conducted not more than one (1) time per year, at mutually agreed upon times, upon
reasonable prior written notice, and in a manner so as to minimize any disruption of the audited party’s normal business activities; provided however, that in the event of an underpayment of more than five per cent (5%), the foregoing
limit of one (1) audit per year shall be expanded to one (1) per calendar quarter. If Safeway is found not to have complied with its payment obligations hereunder by an amount equal to or exceeding five percent (5%) of such
obligations for any calendar month, then Safeway shall reimburse Blackhawk for all reasonable costs associated with Blackhawk’s audit. Any overpayment or underpayment revealed by any audit hereunder shall be reimbursed promptly after the
completion of such audit. 
 11. Assignment. Neither party may transfer or assign this Agreement or its obligations under this Agreement,
in whole or in part, without the prior written consent of the other party. Any assignment contrary to the foregoing shall be void. Notwithstanding the foregoing, either party may assign this Agreement in whole (but not in part) to any parent,
Affiliate, subsidiary or successor upon not less than thirty (30) days prior written notice to the other party. 
 12. Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California, without giving effect to any doctrine of conflicts of laws, including all matters of construction, validity, performance and
enforcement. 
 13. Arbitration. Any controversy or claim arising out of or in any way connected with this Agreement or the alleged
breach thereof shall be resolved by one (1) arbitrator, in accordance with the Commercial Arbitration Rules of the American Arbitration Association (“AAA”) then in effect in San Francisco, California and shall be held in the San
Francisco Bay Area. Judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. Costs of AAA will be shared equally by both parties. 
 14. Force Majeure. Neither party shall be liable for any delay or failure in performance under this Agreement arising out of a cause beyond its reasonable control or without its fault or
negligence. Such 

  
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causes may include, but are not limited to fires, floods, earthquakes, strikes, unavailability of necessary utilities, blackouts, acts of God, acts of declared or undeclared war, acts of
regulatory agencies, or national disasters. 
 15. Independent Contractor. The parties are independent contractors. Nothing in this
Agreement shall be construed to create a joint venture, partnership, an agency relationship, or any other form of joint enterprise between the parties. Neither party has the authority, without the other party’s prior written approval, to bind
or commit the other party in any way. 
 16. Entire Agreement. This Agreement and any attachments hereto set forth the entire agreement
and understanding between the parties as to the subject matter hereof and supersede all prior discussions, agreements and understandings of any kind, and every nature between them. This Agreement shall not be changed, modified or amended except in
writing and signed by both parties. 
 17. Severability. If any provision of this Agreement (or any portion thereof) is determined to be
invalid or unenforceable, the remaining provisions of this Agreement shall not be affected thereby and shall be binding upon Blackhawk and Safeway and shall be enforceable, as though said invalid or unenforceable provision (or portion thereof) were
not contained in this Agreement. 
 18. Waiver. The failure by either party to insist upon strict performance of any of the provisions
contained in this Agreement shall in no way constitute a waiver of its rights as set forth in this Agreement, at law or in equity, or a waiver of any other provisions or subsequent default by the other party in the performance of or compliance with
any of the terms and conditions set forth in this Agreement. 
 19. Third Party Beneficiaries. No third party is a third-party
beneficiary to this Agreement. 
 20. Headings. The headings of this Agreement are intended solely for convenience of reference and shall
be given no effect in the interpretation or construction of this Agreement. 
 IN WITNESS WHEREOF the parties have executed this
Agreement as of the date first above written to be effective as of the Effective Date. 
  

									
	SAFEWAY INC.	 		 	BLACKHAWK NETWORK, INC.
					
	By:	 	/s/ Laura A. Donald	 		 	By:	 	/s/ Kirsten Richesson
	Name:	 	Laura A. Donald	 		 	Name:	 	Kirsten Richesson
	Title:	 	Vice President	 		 	Title:	 	Deputy General Counsel/VP

  
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 Exhibit A 

 

							
	 Service provided by

Blackhawk
	  	 Fee Charged by

Blackhawk
	  	Start Date	  	End Date
	1. Receptionist	  	 Fee per Fiscal Period =
  

Actual annual cost (i.e., salary plus benefits) divided by 13, then multiplied by Safeway Percentage Occupancy*
	  	2014 Fiscal Year

(29 December 2013)
	  	Contract Termination Date
				
	2. Coffee Supplies	  	 Fee per Fiscal Period =
  

Actual annual cost divided by 13, then multiplied by Safeway Percentage Occupancy*
	  	2014 Fiscal Year
 (29 December
2013)
	  	Contract Termination Date
				
	3. Mailroom/Receiving Services	  	 Fee per Fiscal Period =
  

Actual annual cost divided by 13, then multiplied by Safeway Percentage Occupancy*
	  	2014 Fiscal Year
 (29 December
2013)
	  	Contract Termination Date

  

	*	“Safeway Percentage Occupancy” means the percentage of the Facility occupied by Safeway personnel as of the first day of the Fiscal Period for
which the Fee is being charged. 

  
 8EX-10.19

 Exhibit 10.19 
 BLACKHAWK NETWORK HOLDINGS, INC. 
 SECOND AMENDED AND RESTATED 2006
RESTRICTED STOCK AND RESTRICTED STOCK UNIT PLAN 

 BLACKHAWK NETWORK HOLDINGS, INC. 

SECOND AMENDED AND RESTATED 2006 RESTRICTED STOCK AND RESTRICTED STOCK UNIT PLAN 

Table of Contents 
  

							
	 	  	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	1	 
			
	 1.1
	  	 Administrator
	  	 	1	 
	 1.2
	  	 Award
	  	 	1	 
	 1.3
	  	 Award Agreement
	  	 	1	 
	 1.4
	  	 Board
	  	 	1	 
	 1.5
	  	 Code
	  	 	2	  
	 1.6
	  	 Committee
	  	 	2	  
	 1.7
	  	 Common Stock
	  	 	2	 
	 1.8
	  	 Company
	  	 	2	 
	 1.9
	  	 Dividend Equivalent
	  	 	2	 
	 1.10
	  	 Employee
	  	 	2	 
	 1.11
	  	 Exchange Act
	  	 	2	 
	 1.12
	  	 Fair Market Value
	  	 	2	 
	 1.13
	  	 Holder
	  	 	3	  
	 1.14
	  	 Plan
	  	 	3	  
	 1.15
	  	 Restricted Stock
	  	 	3	  
	 1.16
	  	 Restricted Stock Unit
	  	 	3	 
	 1.17
	  	 Securities Act
	  	 	3	 
	 1.18
	  	 Subsidiary
	  	 	3	 
	 1.19
	  	 Stockholders’ Agreement
	  	 	3	 
	 1.20
	  	 Termination of Employment
	  	 	3	 
		
	 ARTICLE II SHARES SUBJECT TO PLAN
	  	 	4	  
			
	 2.1
	  	 Shares Subject to Plan
	  	 	4	  
	 2.2
	  	 Add-back of Certain Shares
	  	 	4	  
		
	 ARTICLE III RESTRICTED STOCK, RESTRICTED STOCK UNITS, DIVIDEND EQUIVALENTS
	  	 	4	 
			
	 3.1
	  	 Eligibility
	  	 	4	 
	 3.2
	  	 Award of Restricted Stock
	  	 	4	 
	 3.3
	  	 Award Agreement
	  	 	5	  
	 3.4
	  	 Restriction
	  	 	5	  
	 3.5
	  	 Repurchase of Restricted Stock
	  	 	5	  
	 3.6
	  	 Stockholders’ Agreement
	  	 	5	 
	 3.7
	  	 Conditions to Issuance of Stock Certificates
	  	 	5	 
	 3.8
	  	 Investment Intent
	  	 	6	  
	 3.9
	  	 Escrow
	  	 	6	 
	 3.10
	  	 Rights as Stockholders
	  	 	7	  

  
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 BLACKHAWK NETWORK HOLDINGS, INC. 

SECOND AMENDED AND RESTATED 2006 RESTRICTED STOCK AND RESTRICTED STOCK UNIT PLAN 

Table of Contents 
  

							
	 	  	 	  	Page	 
			
	 3.11
	  	 Legend
	  	 	7	  
	 3.12
	  	 Section 83(b) Election
	  	 	7	  
	 3.13
	  	 Restricted Stock Units
	  	 	7	  
	 3.14
	  	 Dividend Equivalents
	  	 	8	  
		
	 ARTICLE IV ADMINISTRATION
	  	 	8	  
			
	 4.1
	  	 Administrator
	  	 	8	  
	 4.2
	  	 Powers of the Administrator
	  	 	8	  
	 4.3
	  	 Majority Rule; Unanimous Written Consent
	  	 	9	  
	 4.4
	  	 Compensation; Professional Assistance; Good Faith Actions
	  	 	9	  
		
	 ARTICLE V MISCELLANEOUS PROVISIONS
	  	 	10	  
			
	 5.1
	  	 Not Transferable
	  	 	10	  
	 5.2
	  	 Amendment, Suspension or Termination of the Plan
	  	 	10	  
	 5.3
	  	 Changes in Common Stock or Assets of the Company, Acquisition or Liquidation of the Company and Other Corporate
Events
	  	 	10	  
	 5.4
	  	 Tax Withholding
	  	 	12	  
	 5.5
	  	 Loans
	  	 	12	  
	 5.6
	  	 At-Will Employment
	  	 	13	  
	 5.7
	  	 Effect of Plan Upon Options and Compensation Plans
	  	 	13	  
	 5.8
	  	 Compliance with Laws
	  	 	13	  
	 5.9
	  	 Titles
	  	 	13	  
	 5.10
	  	 Governing Law
	  	 	13	  
	 5.11
	  	 Cash Settlement
	  	 	14	  
	 5.12
	  	 Section 409A
	  	 	14	  

  
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 BLACKHAWK NETWORK HOLDINGS, INC. 

SECOND AMENDED AND RESTATED 2006 RESTRICTED STOCK AND RESTRICTED STOCK UNIT PLAN 

Blackhawk Network Holdings, Inc., a Delaware corporation (the “Company”), adopted this Blackhawk Network Holdings, Inc.
Second Amended and Restated 2006 Restricted Stock and Restated Stock Unit Plan (the “Plan”) for the benefit of its eligible Employees (as defined herein). The Plan was initially effective as of February 24, 2006 (the
“Effective Date”) and amended and restated effective as of February 23, 2007. This second amendment and restatement of the Plan is effective as of May 14, 2012. 

The purposes of the Plan are as follows: 
 to provide an additional incentive for Employees (as defined below) to further the growth, development and financial success of the Company by personally benefiting through the ownership of Company stock;
and 
 to enable the Company to obtain and retain the services of Employees considered essential to the long range success of
the Company by offering them an opportunity to own stock in the Company. 
 ARTICLE I 

DEFINITIONS 
 Wherever the following terms are used in the Plan they shall have the meanings specified below, unless the context clearly indicates otherwise. 

1.1 Administrator. “Administrator” shall mean the Board, except that, if the Board appoints a Committee under
Section 4.1, the term “Administrator” shall mean the Committee as to those duties, powers and responsibilities specifically conferred upon the Committee. 
 1.2 Award. “Award” shall mean a Restricted Stock award, a Restricted Stock Unit award or a Dividend Equivalent award granted under the Plan. 

1.3 Award Agreement. “Award Agreement” shall mean a written agreement executed by an authorized officer of the Company
and the Holder which shall contain such terms and conditions with respect to an Award as the Administrator shall determine, consistent with the Plan. 
 1.4 Board. “Board” shall mean the Board of Directors of the Company. 

  
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 1.5 Code. “Code” shall mean the Internal Revenue Code of 1986, as amended.

 1.6 Committee. “Committee” shall mean the committee or subcommittee of the Board appointed as provided in
Section 4.1. 
 1.7 Common Stock. “Common Stock” shall mean the common stock of the Company, par value
$0.001 per share. 
 1.8 Company. “Company” shall mean Blackhawk Network Holdings, Inc., a Delaware
corporation. 
 1.9 Dividend Equivalent. “Dividend Equivalent” shall mean a right to receive the equivalent
value (in cash or shares of Common Stock) of dividends paid on shares of Common Stock, granted pursuant to the Plan. 
 1.10
Employee. “Employee” shall mean any officer or other employee (as defined in accordance with Section 3401(c) of the Code) of the Company, or of any corporation which is a Subsidiary. 

1.11 Exchange Act. “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

1.12 Fair Market Value. “Fair Market Value” shall mean, as of any date, the value of a share of Common Stock determined
as follows: 
 (a) If the Common Stock is listed on any established stock exchange, its Fair Market Value shall be the closing
sales price for a share of Common Stock as quoted on such exchange for such date or, if there is no closing sales price for a share of Common Stock on the date in question, the closing sales price for a share of Common Stock on the last preceding
date for which such quotation exists, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 
 (b) If the Common Stock is regularly quoted by a recognized securities dealer but closing sales prices are not reported, its Fair Market Value shall be the mean of the high

  
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bid and low asked prices for a share of the Common Stock on the date in question or, if there are no high bid and low asked prices for a share of the Common Stock on the date in question, the
high bid and low asked prices for a share of the Common Stock on the last preceding date for which such information exists, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; or 

(c) If the Common Stock is neither listed on an established stock exchange nor regularly quoted by a recognized securities dealer, the
Administrator shall determine the Fair Market Value for a share of the Common Stock in good faith by the reasonable application of a reasonable valuation method in accordance with proposed Treasury Regulation Section 1.409A-1(b)(5)(iv)(B) or
any successor thereto. 
 1.13 Holder. “Holder” shall mean a person who has been granted an Award. 

1.14 Plan. “Plan” shall mean the Blackhawk Network Holdings, Inc. Second Amended and Restated 2006 Restricted Stock and
Restricted Stock Unit Plan. 
 1.15 Restricted Stock. “Restricted Stock” shall mean Common Stock granted
pursuant to the Plan. 
 1.16 Restricted Stock Unit. “Restricted Stock Unit” shall mean a contractual right
granted pursuant to the Plan to receive in the future a share of Common Stock or the Fair Market Value of a share of Common Stock in cash. 
 1.17 Securities Act. “Securities Act” shall mean the Securities Act of 1933, as amended. 
 1.18 Subsidiary. “Subsidiary” shall mean any corporation in an unbroken chain of corporations beginning with the Company if each of the corporations other than the last corporation in the
unbroken chain then owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 

1.19 Stockholders’ Agreement. “Stockholders’ Agreement” shall mean that certain Third Amended and Restated
Stockholders’ Agreement dated as of August 21, 2012, by and among the Company, Safeway Inc., a Delaware corporation, and certain stockholders of the Company, as amended from time to time. 

1.20 Termination of Employment. “Termination of Employment” shall mean the time when the employee-employer relationship
between a Holder and the Company or any Subsidiary is terminated for any reason, 

  
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with or without cause, including, but not by way of limitation, a termination by resignation, discharge, death, disability or retirement; but excluding (a) terminations where there is a
simultaneous reemployment or continuing employment of a Holder by the Company or any Subsidiary, and (b) at the discretion of the Administrator, terminations which result in a temporary severance of the employee-employer relationship. The
Administrator, in its absolute discretion, shall determine the effect of all matters and questions relating to Termination of Employment, including, but not by way of limitation, all questions of whether a particular leave of absence constitutes a
Termination of Employment. 
 ARTICLE II 
 SHARES SUBJECT TO PLAN 
 2.1 Shares Subject to Plan. The shares of
stock subject to Awards shall be shares of the Company’s common stock, par value $0.001 per share. The aggregate number of such shares which may be issued pursuant to the Plan shall not exceed Two Million Five Hundred Thousand (2,500,000). The
shares of Common Stock issuable pursuant to Awards may be either previously authorized but unissued shares or treasury shares. 

2.2 Add-back of Certain Shares. Shares of Common Stock which are delivered by the Holder in payment of the tax withholding with
respect to any Award may again be granted hereunder, subject to the limitations of Section 2.1. If any shares of Restricted Stock are repurchased by the Company pursuant to Section 3.5, such shares may again be granted hereunder, subject
to the limitations of Section 2.1. 
 ARTICLE III 

RESTRICTED STOCK, RESTRICTED STOCK UNITS, DIVIDEND EQUIVALENTS 

3.1 Eligibility. Restricted Stock may be granted to any Employee who the Administrator determines should receive such an Award.

 3.2 Award of Restricted Stock 
 (a) The Administrator may from time to time, in its absolute discretion: 
 (i) Select from among the Employees (including Employees who have previously received other Awards under the Plan) such of them as in its opinion should be granted Restricted Stock; and 

  
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 (ii) Determine the purchase price, if any, and other terms and conditions
applicable to such Restricted Stock, consistent with the Plan. 
 (b) The Administrator shall establish the purchase price, if
any, and form of payment for Restricted Stock; provided, however, that such purchase price shall be no less than the par value of the Common Stock to be purchased, unless otherwise permitted by applicable state law. In all cases, legal
consideration shall be required for each issuance of Restricted Stock. 
 3.3 Award Agreement. Each Award shall be
evidenced by an Award Agreement. The Award Agreement evidencing an Award shall contain such terms, provisions and conditions not inconsistent with the Plan as may be determined by the Administrator in its discretion. 

3.4 Restriction. All shares of Restricted Stock (including any shares received by holders thereof with respect to shares of
Restricted Stock as a result of stock dividends, stock splits or any other form of recapitalization) shall, in the terms of each individual Award Agreement, be subject to such restrictions as the Administrator shall provide, which restrictions may
include, without limitation, restrictions concerning voting rights and transferability and restrictions based on duration of employment with the Company or any Subsidiary, Company performance and individual performance; provided,
however, that, by action taken after the Restricted Stock is issued, the Administrator may, on such terms and conditions as it may determine to be appropriate, remove any or all of the restrictions imposed by the terms of the Award Agreement.
Restricted Stock may not be sold or encumbered until all restrictions are terminated or expire. 
 3.5 Repurchase of
Restricted Stock. The Administrator may provide in the terms of each individual Award Agreement that the Company shall have the right to repurchase from the Holder the Restricted Stock then subject to restrictions under the Award Agreement at
the time of such Holder’s Termination of Employment, at a price per share equal to the lesser of (i) the price paid by the Holder for such Restricted Stock or (ii) the then current Fair Market Value of such Restricted Stock, as
determined by the Administrator in good faith. The repurchase price for any such shares of Restricted Stock shall be paid in either cash (or cash equivalent) or cancellation of all or any portion of any indebtedness owed to the Company incurred by
the Holder in satisfaction of the Holder’s tax withholding obligations. 
 3.6 Stockholders’ Agreement. Except
as otherwise provided by the Administrator, all shares of Restricted Stock shall be subject to the Stockholders’ Agreement. As a condition of acquiring Restricted Stock, the Administrator may require a Holder to execute, deliver and deposit
with the Secretary of the Company, or such other person designated by the Administrator, the Stockholders’ Agreement. 

3.7 Conditions to Issuance of Stock Certificates. The Company shall not be required to issue or deliver any certificate or
certificates for shares of Common Stock issuable pursuant to an Award prior to fulfillment of all of the following conditions: 

  
 5 

 (a) The receipt by the Company of full payment for such shares, including payment of any
applicable withholding tax; or 
 (b) Holder’s execution of such documentation (if any) as the Administrator may deem
necessary or advisable to evidence Holder’s agreement to be bound by the terms of the Stockholders’ Agreement with respect to the such shares. 
 (c) The admission of such shares to listing on all stock exchanges on which such class of stock is then listed (if any); 
 (d) The completion of any registration or other qualification of such shares under any state or federal law, or under the rulings or regulations of the Securities and Exchange Commission or any other
governmental regulatory body which the Administrator shall, in its absolute discretion, deem necessary or advisable; 
 (e) The
obtaining of any approval or other clearance from any state or federal governmental agency which the Administrator shall, in its absolute discretion, determine to be necessary or advisable; and 

(f) The lapse of such reasonable period of time (as may be established by the Administrator from time to time for reasons of
administrative convenience) following execution of an Award Agreement and such other documentation as the Administrator may require consistent with the terms of the Plan (including, without limitation, any investment representation letter required
pursuant to Section 3.8). 
 3.8 Investment Intent. As a condition of acquiring Common Stock under the Plan, the
Administrator may require a Holder to give written assurances satisfactory to the Company as to (i) the Holder’s knowledge and experience in financial and business matters, (ii) the Holder’s capability of evaluating, alone or
together with a professional advisor employed by the Holder, the merits and risks of acquiring such Common Stock, and (iii) the Holder’s investment intent (and intent to acquire the Common Stock for the Holder’s own account and not
with any present intention of selling or otherwise distributing the Common Stock). In the event the services of a professional advisor are necessary to provide the foregoing written assurances, the professional advisor shall be unaffiliated with the
Company or any of its affiliates and shall be knowledgeable and experienced in financial and business matters. The Holder alone shall be responsible for the cost of employing any professional advisor. The requirements of this Section 3.8 shall
be inoperative if the shares to be issued have been registered under a then currently effective registration statement under the Securities Act, or as to any particular requirement, a determination is made by counsel for the Company that such
requirement need not be met in the circumstances under the then applicable securities laws. 
 3.9 Escrow. The Secretary
of the Company or such other escrow holder as the Administrator may appoint shall retain physical custody of each certificate representing Restricted Stock until all of the restrictions imposed under the Award Agreement with respect to the shares
evidenced by such certificate expire or shall have been removed. 

  
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 3.10 Rights as Stockholders. Subject to Section 3.4, upon delivery of the shares
of Restricted Stock to the Holder, or to the escrow holder pursuant to Section 3.9, as applicable, the Holder shall have, unless otherwise provided by the Administrator, all the rights of a stockholder with respect to said shares, subject to
the restrictions, if any, in his or her Award Agreement and the Stockholders’ Agreement, including the right to receive all dividends and other distributions paid or made with respect to the shares; provided, however, that in the
discretion of the Administrator, any dividends or other distributions with respect to the Common Stock shall be subject to the restrictions imposed pursuant to Sections 3.4 and 3.5. 

3.11 Legend. In order to enforce the restrictions imposed upon shares of Restricted Stock hereunder, the Administrator shall cause
a legend or legends to be placed on certificates representing all shares of Restricted Stock that are still subject to restrictions under Award Agreements, which legend or legends shall make appropriate reference to the conditions imposed thereby.

 3.12 Section 83(b) Election. If a Holder makes an election under Section 83(b) of the Code, or any successor
section thereto, to be taxed with respect to the Restricted Stock as of the date of transfer of the Restricted Stock rather than as of the date or dates upon which the Holder would otherwise be taxable under Section 83(a) of the Code, the
Holder shall deliver a copy of such election to the Company immediately after filing such election with the Internal Revenue Service. 
 3.13 Restricted Stock Units. The Administrator is authorized to grant Restricted Stock Units to any Employee. The number and terms and conditions of Restricted Stock Units shall be determined by
the Administrator. The Administrator shall specify the date or dates on which the Restricted Stock Units shall become fully vested and nonforfeitable, and may specify such conditions to vesting as it deems appropriate, including conditions based on
one or more performance criteria or other specific criteria, including service to the Company or any Subsidiary, in each case, on a specified date or dates or over any period or periods, as determined by the Administrator. The Administrator shall
specify, or permit the Participant to elect, the conditions and dates upon which the shares of Common Stock underlying the Restricted Stock Units shall be issued, which dates shall not be earlier than the date as of which the Restricted Stock Units
vest and become nonforfeitable and which conditions and dates shall be set in accordance with the applicable provisions of Section 409A of the Code or an exemption therefrom. On the distribution dates, the Company shall issue to the Participant
one unrestricted, fully transferable share of Common Stock (or the Fair Market Value of one such share of Common Stock in cash) for each vested and nonforfeitable Restricted Stock Unit; provided,

  
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however, that any share of Common Stock issued to the Holder pursuant to this Section 3.13 shall be subject to the terms and conditions of the Stockholders’ Agreement.

 3.14 Dividend Equivalents. Dividend Equivalents may be granted by the Administrator, either alone or in tandem with
another Award, based on dividends declared on the Common Stock, to be credited as of dividend payment dates during the period between the date the Dividend Equivalents are granted to a Holder and the date such Dividend Equivalents terminate or
expire, as determined by the Administrator. Such Dividend Equivalents shall be converted to cash or additional shares of Common Stock by such formula, at such time and subject to such limitations as may be determined by the Administrator. In
addition, the Administrator may provide that Dividend Equivalents with respect to shares of Common Stock covered by an Award shall only be paid out to the Holder at the same time or times and to the same extent that the vesting conditions, if any,
are subsequently satisfied and the Award vests with respect to such shares of Common Stock. 
 ARTICLE IV 

ADMINISTRATION 
 4.1 Administrator. Unless and until the Board delegates administration to a Committee as set forth below, the Plan shall be administered by the Board. The Board may delegate administration of the
Plan to a Committee or Committees of one or more members of the Board, and the term “Committee” shall apply to any person or persons to whom such authority has been delegated. If administration is delegated to a Committee, the Committee
shall have, in connection with the administration of the Plan, the powers theretofore possessed by the Board, including the power to delegate to a subcommittee any of the administrative powers the Committee is authorized to exercise (and references
in this Plan to the Board shall thereafter be to the Committee or subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. Within the scope of such
authority, the Board or the Committee may delegate to a committee of one or more members of the Board the authority to grant Awards under the Plan to eligible Employees. The Board may abolish the Committee at any time and revest in the Board the
administration of the Plan. Appointment of Committee members shall be effective upon acceptance of appointment. Committee members may resign at any time by delivering written notice to the Board. Vacancies in the Committee may only be filled by the
Board. 
 4.2 Powers of the Administrator. Subject to the provisions of the Plan and the specific duties delegated by the
Board to any Committee, and subject to the approval of any relevant authorities, the Administrator shall have the authority in its discretion: 
 (a) to determine the Fair Market Value of the Common Stock for all purposes of the Plan or any Award granted hereunder; 

  
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 (b) to select the Employee to whom Awards may from time to time be granted hereunder;

 (c) to determine the number of shares of Common Stock to be covered by each Award granted hereunder, subject to the
limitations of Section 2.1 above; 
 (d) to approve forms of agreement for use under the Plan; 

(e) to determine the terms and conditions of any Awards granted hereunder (such terms and conditions include, but are not limited to, the
purchase price to be paid, the time or times when Award may vest (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or limitation regarding any Award or the Common Stock
relating thereto, based in each case on such factors as the Administrator, in its discretion, shall determine); 
 (f) to
prescribe, amend and rescind rules and regulations relating to the Plan; 
 (g) to allow Holders to satisfy withholding tax
obligations by electing to have the Company withhold shares of Common Stock otherwise subject to an Award, or to allow the repurchase of shares of Common Stock by the Company, having a Fair Market Value on the date of withholding or repurchase equal
to the aggregate amount of such obligations based on the minimum amount required to be withheld using the statutory withholding rates for federal, state, local and foreign income tax and payroll tax purposes that are applicable to such supplemental
taxable income. The Fair Market Value of the shares of Common Stock to be withheld or repurchased shall be determined on the date that the amount of tax to be withheld is to be determined. All elections by Holders to have shares of Common Stock
withheld or repurchased for this purpose shall be made in such form and under such conditions as the Administrator may deem necessary or advisable; 
 (h) to amend the Plan or any Award granted under the Plan as provided in Section 5.2; and 
 (i) to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan and to exercise such powers and perform such acts as the Administrator deems necessary or desirable to promote
the best interests of the Company which are not in conflict with the provisions of the Plan. 
 4.3 Majority Rule; Unanimous
Written Consent. The Administrator shall act by a majority of its members in attendance at a meeting at which a quorum is present or by a memorandum or other written instrument signed by all members of the Board or Committee, as applicable.

 4.4 Compensation; Professional Assistance; Good Faith Actions. Members of the Board or Committee shall receive such
compensation, if any, for their services as members as may be determined by the Board. All expenses and liabilities which members of the Board or Committee incur in connection with the administration of the Plan shall

  
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be borne by the Company. The Administrator may employ attorneys, consultants, accountants, appraisers, brokers, or other persons. The Administrator, the Company and the Company’s officers
and members of the Board shall be entitled to rely upon the advice, opinions or valuations of any such persons. All actions taken and all interpretations and determinations made by the Committee or the Board in good faith shall be final and binding
upon all Holders, the Company and all other interested persons. No members of the Committee or Board shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or Awards, and all members of
the Committee and the Board shall be fully protected by the Company in respect of any such action, determination or interpretation. 
 ARTICLE V 
 MISCELLANEOUS PROVISIONS 

5.1 Not Transferable. 
 (a) No Award under the Plan, or the shares underlying such Award, may be sold, pledged, assigned, hypothecated, transferred or disposed of in any manner other than by will or the laws of descent and
distribution, unless and until the shares underlying such Award have been issued, and all restrictions applicable to such shares have lapsed. No Award or interest or right therein shall be liable for the debts, contracts or engagements of the Holder
or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by
judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted by the
preceding sentence. 
 5.2 Amendment, Suspension or Termination of the Plan. Except as otherwise provided in this
Section 5.2, the Plan may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Board. No amendment, suspension or termination of the Plan shall, without the consent of the Holder
alter or impair any rights or obligations under any Award theretofore granted, unless the Award itself otherwise expressly so provides. No Awards may be granted during any period of suspension or after termination of the Plan, and in no event may
any Awards be granted under the Plan after the expiration of ten years from the date the Plan is adopted by the Board. 
 5.3
Changes in Common Stock or Assets of the Company, Acquisition or Liquidation of the Company and Other Corporate Events. 

(a) In the event that the Administrator determines that any dividend or other distribution (whether in the form of cash, Common Stock,
other securities, or other property), recapitalization, reclassification, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, liquidation, dissolution, or sale, transfer, exchange or
other disposition of all or substantially all of the assets of the Company, or exchange of Common Stock or other securities of the Company, issuance of warrants or other rights to purchase Common Stock or other securities of the Company, or other
similar corporate 

  
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transaction or event, in the Administrator’s discretion, affects the Common Stock such that an adjustment is determined by the Administrator to be appropriate in order to prevent dilution or
enlargement of the benefits or potential benefits intended to be made available under the Plan or with respect to an Award, then the Administrator shall, in such manner as it may deem equitable, adjust any or all of 

(i) the number and kind of shares of Common Stock (or other securities or property) with respect to which Awards may be
granted (including, but not limited to, adjustments of the limitation in Section 2.1 on the maximum number and kind of shares which may be issued); and 
 (ii) the number and kind of shares of Common Stock (or other securities or property) subject to outstanding Awards. 
 (b) In the event of any transaction or event described in Section 5.3(a) or any unusual or nonrecurring transactions or events affecting the Company, any affiliate of the Company, or the financial
statements of the Company or any affiliate, or of changes in applicable laws, regulations, or accounting principles, the Administrator, in its discretion, and on such terms and conditions as it deems appropriate, either by the terms of the Award or
by action taken prior to the occurrence of such transaction or event and either automatically or upon the Holder’s request, is hereby authorized to take any one or more of the following actions whenever the Administrator determines that such
action is appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan or with respect to any Award under the Plan, to facilitate such transactions or events, or to give
effect to such changes in laws, regulations or principles: 
 (i) To provide for either the purchase of any such
Award or shares of Common Stock issued thereunder for an amount of cash equal to the amount that could have been attained upon the realization of the Holder’s rights had such Award been fully vested or the replacement of such Award with other
rights or property selected by the Administrator in its discretion; 
 (ii) To provide that some or all shares of
Restricted Stock may cease to be subject to repurchase under Section 3.5, or such other restrictions as may be imposed under Section 3.4, after such event; and to provide that the vesting of some or all of the shares covered by a
Restricted Stock Unit may be accelerated prior to such event; 
 (iii) To provide that the Award cannot vest
after such event; 
 (iv) To provide that the Company’s repurchase rights may be assigned to the successor
or survivor corporation, or a parent or subsidiary thereof, or otherwise continued in effect; 
 (v) To provide
that such Award shall be substituted for by similar awards covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and prices; and 

  
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 (vi) To make adjustments in the number and kind of shares of Common Stock
(or other securities or property) subject to outstanding Awards, or Awards which may be granted in the future. 
 (c) The
Administrator may, in its discretion, include such further provisions and limitations in any Award, agreement or certificate, as it may deem equitable and in the best interests of the Company. 

(d) The existence of the Plan, the Award Agreement and the Awards granted hereunder shall not affect or restrict in any way the right or
power of the Company or the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or its business, any merger or consolidation of the Company, any
issue of stock or of options, warrants or rights to purchase stock or of bonds, debentures, preferred or prior preference stocks whose rights are superior to or affect the Common Stock or the rights thereof or which are convertible into or
exchangeable for Common Stock, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 

5.4 Tax Withholding. The Company shall be entitled to require payment in cash or deduction from other compensation payable to each
Holder of any sums required by federal, state or local tax law to be withheld with respect to the grant, issuance or vesting of any Award or shares of Restricted Stock subject thereto. The Administrator may in its discretion and in satisfaction of
the foregoing requirement allow such Holder to elect to have the Company withhold shares of Common Stock otherwise issuable under such Award (or allow the return of shares of Common Stock) having a Fair Market Value equal to the sums required to be
withheld. Notwithstanding any other provision of the Plan, the number of shares of Common Stock which may be withheld with respect to the issuance, vesting or payment of any Award (or which may be repurchased from the Holder of such Award within six
months after such shares of Common Stock were acquired by the Holder from the Company) in order to satisfy the Holder’s federal, state and local income tax and payroll tax liabilities with respect to the issuance, vesting or payment of the
Award shall be limited to the number of shares which have a Fair Market Value on the date of withholding or repurchase equal to the aggregate amount of such liabilities based on the minimum statutory withholding rates for federal, state and local
income tax and payroll tax purposes that are applicable to such supplemental taxable income. 
 5.5 Loans. The
Administrator may, in its discretion, extend one or more loans to Employees in connection with the issuance or vesting of Awards granted under the Plan. The terms and conditions of any such loan shall be set by the Administrator. Notwithstanding the
foregoing, no loan shall be made to an Employee under this Section to the extent such loan would result in an extension or maintenance of credit, an arrangement for the extension of credit, or a renewal of an extension of credit in the form of a
personal loan that is prohibited by Section 13(k) of the Exchange Act or other applicable law. In the event that the Administrator determines in its 

  
 12 

 
discretion that any loan under this Section is or will become prohibited by Section 13(k) of the Exchange Act or other applicable law, the Administrator may provide that such loan is
immediately due and payable in full and may take any other action in connection with such loan as the Administrator determines in its discretion to be necessary or appropriate for the repayment, cancellation or extinguishment of such loan.

 5.6 At-Will Employment. Nothing in the Plan or in any Award Agreement hereunder shall confer upon any Holder any right
to continue in the employ of the Company or any Subsidiary, or as a director of the Company, or shall interfere with or restrict in any way the rights of the Company or any Subsidiary, which rights are hereby expressly reserved, to discharge any
Holder at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in a written agreement between the Holder and the Company or any Subsidiary. 

5.7 Effect of Plan Upon Options and Compensation Plans. The adoption of the Plan shall not affect any other compensation or
incentive plans in effect for the Company or any Subsidiary. Nothing in the Plan shall be construed to limit the right of the Company (a) to establish any other forms of incentives or compensation for Employees or other service providers of the
Company or any Subsidiary or (b) to grant or assume options or other rights or awards in connection with any proper corporate purpose including but not by way of limitation, the grant or assumption of options in connection with the acquisition
by purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of any corporation, partnership, limited liability company, firm or association. 
 5.8 Compliance with Laws. The Plan, the granting and vesting of Awards under the Plan and the issuance and delivery of shares of Common Stock and the payment of money under the Plan or under Awards
granted hereunder are subject to compliance with all applicable federal and state laws, rules and regulations (including but not limited to state and federal securities law and federal margin requirements) and to such approvals by any listing,
regulatory or governmental authority as may, in the opinion of counsel for the Company, be necessary or advisable in connection therewith. Any securities delivered under the Plan shall be subject to such restrictions, and the person acquiring such
securities shall, if requested by the Company, provide such assurances and representations to the Company as the Company may deem necessary or desirable to assure compliance with all applicable legal requirements. To the extent permitted by
applicable law, the Plan and Awards granted hereunder shall be deemed amended to the extent necessary to conform to such laws, rules and regulations. 
 5.9 Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of the Plan. 

5.10 Governing Law. The Plan and any agreements hereunder shall be administered, interpreted and enforced under the internal laws
of the State of Delaware without regard to conflicts of laws thereof. 

  
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 5.11 Cash Settlement. Without limiting the generality of any other provision of the
Plan, the Administrator may provide, in an Award Agreement or subsequent to the grant of an Award, in its discretion, that any Award may be settled in cash, shares of Common Stock or a combination thereof. 

5.12 Section 409A. To the extent that the Administrator determines that any Award granted under the Plan is subject to
Section 409A of the Code, the Plan and the Award Agreement covering such Award shall be interpreted in accordance with Section 409A of the Code. Notwithstanding any provision of the Plan to the contrary, in the event that, following the
Effective Date, the Administrator determines that any Award may be subject to Section 409A of the Code, the Administrator may adopt such amendments to the Plan and the Award Agreement or adopt other policies and procedures (including
amendments, policies and procedures with retroactive effect), or take any other actions, that the Administrator determines are necessary or appropriate to avoid the imposition of taxes on the Award under Section 409A of the Code, either through
compliance with the requirements of Section 409A of the Code or with an available exemption therefrom. 

  
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 *  *  * 

I hereby certify that the foregoing is a true and correct copy of the Blackhawk Network Holdings, Inc. Second Amended and Restated 2006
Restricted Stock and Restricted Stock Unit Plan, as duly assumed and amended and restated by the Board of Directors of Blackhawk Network Holdings, Inc. effective as of May 14, 2012. 

Executed on this 18th day of May, 2012 
  

 

			
	Blackhawk Network Holdings, Inc.
		
	By:	 	 /s/ David E. Durant

		
	Title:	 	 Secretary & General Counsel

  
 15

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