Document:

EX-10.3

EXHIBIT 10.3

[CEO]

NEWELL RUBBERMAID INC. 2003 STOCK PLAN

(As Amended and Restated Effective February 8, 2006 and further amended August 9, 2006)

STOCK OPTION AGREEMENT

A Stock Option (the “Option”) granted by Newell Rubbermaid Inc., a Delaware corporation
(the “Company”), to the employee named in the attached Option letter (the “Optionee”), for common
stock, par value $1.00 per share and related common stock purchase rights (the “Common Stock”), of
the Company, shall be subject to the following terms and conditions:

1. Stock Option Grant. Subject to the provisions set forth herein and the terms and
conditions of the Newell Rubbermaid Inc. 2003 Stock Plan, as amended and restated effective
February 8, 2006 and further amended August 9, 2006 (the “Plan”), a copy of which is attached
hereto and the terms of which are hereby incorporated by reference, and in consideration of the
agreements of the Optionee herein provided, the Company hereby grants to the Optionee an Option to
purchase from the Company the number of shares of Common Stock, at the purchase price per share,
and on the schedule, set forth in the attached Option letter. Any Incentive Stock Option is
intended to be an incentive stock option within the meaning of Section 422A of the Internal Revenue
Code of 1986.

2. Acceptance by Optionee. The exercise of the Option is conditioned upon its
acceptance by the Optionee in the space provided therefor at the end of the attached Option letter
and the return of an executed copy of such Option letter to the Secretary of the Company no later
than 60 days after the Date of Grant set forth therein or, if later, 30 days after the Optionee
receives this Agreement.

3. Exercise of Option. Written notice of an election to exercise any portion of the
Option shall be given by the Optionee, or his personal representative in the event of the
Optionee’s death, in accordance with procedures established by the Organizational Development and
Compensation Committee of the Board of Directors of the Company (the “Committee”) as in effect at
the time of such exercise.

At the time of exercise of the Option, payment of the purchase price for the shares of Common
Stock with respect to which the Option is exercised must be made by one or more of the following
methods: (i) in cash, (ii) in cash received from a broker-dealer to whom the Optionee has
submitted an exercise notice and irrevocable instructions to deliver the purchase price to the
Company from the proceeds of the sale of shares subject to the Option, (iii) by delivery to the
Company of other Common Stock owned by the Optionee that is acceptable to the Company, valued at
its fair market value on the date of exercise, or (iv) by certifying to ownership by attestation of
such previously owned Common Stock.

If applicable, an amount sufficient to satisfy all minimum Federal, state and local
withholding tax requirements prior to delivery of any certificate for shares of Common Stock must
also accompany the exercise. Payment of such taxes can be made by a method specified above, and/or
by directing the Company to withhold such number of shares of Common Stock otherwise issuable upon
exercise of the Option with a fair market value equal to the amount of tax to be withheld.

4. Exercise Upon Termination of Employment.

(a) Service on the Board Terminates.

(i) If the Optionee’s employment with the Company and all affiliates terminates for any
reason other than death, disability or retirement (as defined below), and in connection
therewith the Optionee’s service on the Board terminates, the Option shall expire on the
date of such termination of employment, and no portion shall be exercisable after the date
of such termination.

(ii) In the event of the Optionee’s death, or if the Optionee’s employment with the
Company and all affiliates terminates due to disability and in connection therewith his
service on the Board terminates, the outstanding portion of the Option shall become fully
vested on such date and shall continue to be exercisable until the earlier of the first
anniversary of the date of the Optionee’s termination of employment, or the date the Option
expires by its terms.

(iii) If the Optionee’s employment with the Company and all affiliates terminates due
to retirement, and in connection therewith his service on the Board terminates, the
outstanding portion of the Option shall become fully vested on such date if so provided in
the table set forth below and the vested portion of the Option shall continue to be
exercisable until the earlier of the date specified in the table or the date the Option
expires by its terms.

	 	 	 	 	 
	Age or Points	 	Vesting	 	Exercise Date
	Age 65 or 70

or more points

	 	All unvested options vest
	 	10 years following

termination of employment
	65-69 points

	 	All unvested options vest
	 	5 years following

termination of employment
	60-64 points

	 	All unvested options expire
	 	1 year following

termination of employment

(b) Service on the Board Continues.

(i) If the Optionee’s employment with the Company and all affiliates terminates for any
reason other than death, disability or retirement, and the Optionee’s service on the Board
continues thereafter, the outstanding portion of the Option shall continue to vest and
remain exercisable in accordance with the Option letter. If the Optionee’s service on the
Board subsequently terminates, then (A) if the termination of service is due to death or
disability, the outstanding portion of the Option shall become fully vested on such date and
shall continue to be exercisable until the earlier of the first anniversary of the date of
the Optionee’s termination of service or the date the Option expires by its terms, (B) if
the termination of service is due to retirement, the outstanding portion of the Option shall
continue to vest and remain exercisable in the same manner and to the same extent as if the
Optionee had continued service on the Board, and (C) if the termination of service is for
any reason other than death, disability or retirement, the outstanding portion of the Option
shall expire on the date of such termination of service, and no portion shall be exercisable
after the date of such termination of service.

(ii) If the Optionee’s employment with the Company and all affiliates terminates due to
disability or retirement, and the Optionee’s service on the Board continues thereafter, the
outstanding portion of the Option shall become fully vested on such date and remain
exercisable in accordance with the Option letter. If the Optionee’s service on the Board
subsequently terminates, then (A) if the termination of service is due to death or
disability, the outstanding portion of the Option shall continue to be exercisable until the
earlier of the first anniversary of the Optionee’s termination of service or the date the
Option expires by its terms; (B) if the termination of service is due to retirement, the
outstanding portion of the Option shall remain exercisable in the same manner and to the
extent as if the Optionee had continued service on the Board; and (C) if the termination of
service is for any reason other than death, disability or retirement, the outstanding
portion of the Option shall expire on the later of the date of the Optionee’s termination of
service or the first anniversary of the date of the Optionee’s termination of employment,
but in no event later than the date the Option expires by its terms, and no portion of the
Option shall be exercisable after the date of such expiration.

(c) Definitions. For purposes of this Section 4:

(i) “disability” means (as determined by the Committee in its sole discretion) the
inability of the Optionee to engage in any substantial gainful activity by reason of any
medically determinable physical or mental impairment which is expected to result in death or
disability or which has lasted or can be expected to last for a continuous period of not
less than 12 months;

(ii) “retirement” means (A) while the Optionee is employed, the Optionee’s termination
of employment without cause on or after the date on which the Optionee has completed five
years of credited service and either (I) has attained age 65 or (II) has attained age 55 and
the sum of his age and credited service (his “points”) equals or exceeds 60; or (B) while
the Optionee is a non-employee Director, retirement in accordance with the Company’s
retirement policy for Directors;

(iii) “credited service” means the Optionee’s period of employment with the Company and
all affiliates (including any predecessor company or business acquired by the Company or any
affiliate, provided the Optionee was immediately employed by the Company or any affiliate).
Age and credited service shall be determined in fully completed years and months, with each
month being measured as a continuous period of 30 days;

(iv) “cause” means the Optionee’s termination of employment due to unsatisfactory
performance or conduct detrimental to the Company or its affiliates, as determined solely by
the Company; and

(v) “affiliate” means each entity with whom the Company would be considered a single
employer under Sections 414(b) and 414(c) of the Code, substituting “at least 50%” instead
of “at least 80%” in making such determination.

(d) General.

(i) Any Optionee whose employment terminates due to retirement as described in this
Section 4 must execute and deliver to the Company an agreement, in a form prescribed by the
Company, and in accordance with procedures established by the Company, that he will not
solicit employees, customers or suppliers of the Company and its affiliates, or compete with
the Company and its affiliates, and that he releases all claims against the Company and its
affiliates. If the Optionee fails to execute such agreement, or if the agreement is revoked
by the Optionee, the Option shall expire on the date of the Optionee’s retirement, and no
portion shall be exercisable after the date of such retirement.

(ii) The foregoing provisions of this Section 4 shall be subject to the provisions of
any written employment security agreement or severance agreement that has been or may be
executed by the Optionee and the Company, and the provisions in such employment security
agreement or severance agreement concerning exercise of an Option shall supercede any
inconsistent or contrary provisions of this Section 4.

(iii) Full vesting of an Incentive Stock Option may result in all or part of the Option
being treated as a Non-Qualified Stock Option in accordance with Section 6.4(a) of the Plan.

5. Option Not Transferable. The Option may be exercised only by the Optionee during
his lifetime and may not be transferred other than by will or the applicable laws of descent or
distribution or pursuant to a qualified domestic relations order. The Option shall not otherwise be
assigned, transferred, or pledged for any purpose whatsoever and is not subject, in whole or in
part, to attachment, execution or levy of any kind. Any attempted assignment, transfer, pledge, or
encumbrance of the Option, other than in accordance with its terms, shall be void and of no effect.

6. Surrender of or Changes to Agreement. In the event the Option shall be exercised
in whole, this Agreement shall be surrendered to the Company for cancellation. In the event this
Option shall be exercised in part or a change in the number of designation of the shares of Common
Stock shall be made, this Agreement shall be delivered by the Optionee to the Company for the
purpose of making appropriate notation thereon, or of otherwise reflecting, in such manner as the
Company shall determine, the change in the number or designation of such shares.

7. Administration. The Option shall be exercised in accordance with such
administrative regulations as the Committee shall from time to time adopt.

8. Governing Law. This Agreement, and the Option, shall be construed, administered
and governed in all respects under and by the laws of the State of Delaware.

IN WITNESS WHEREOF, this Agreement is executed by the Company this      day of      ,
     , effective as of the      day of      ,      .

NEWELL RUBBERMAID INC.

By:

CH2\2313383.1EX-10.4

EXHIBIT 10.4

NEWELL RUBBERMAID INC. 2003 STOCK PLAN

(As Amended and Restated Effective February 8, 2006

and further amended August 9, 2006)

STOCK OPTION AGREEMENT

A Stock Option (the “Option”) granted by Newell Rubbermaid Inc., a Delaware corporation (the
“Company”), to the employee named in the attached Option letter (the “Optionee”), for common stock,
par value $1.00 per share and related common stock purchase rights (the “Common Stock”), of the
Company, shall be subject to the following terms and conditions:

1. Stock Option Grant. Subject to the provisions set forth herein and the terms and
conditions of the Newell Rubbermaid Inc. 2003 Stock Plan, as amended and restated effective
February 8, 2006 and further amended August 9, 2006 (the “Plan”), a copy of which is attached
hereto and the terms of which are hereby incorporated by reference, and in consideration of the
agreements of the Optionee herein provided, the Company hereby grants to the Optionee an Option to
purchase from the Company the number of shares of Common Stock, at the purchase price per share,
and on the schedule, set forth in the attached Option letter. Any Incentive Stock Option is
intended to be an incentive stock option within the meaning of Section 422A of the Internal Revenue
Code of 1986.

2. Acceptance by Optionee. The exercise of the Option is conditioned upon its
acceptance by the Optionee in the space provided therefor at the end of the attached Option letter
and the return of an executed copy of such Option letter to the Secretary of the Company no later
than 60 days after the Date of Grant set forth therein or, if later, 30 days after the Optionee
receives this Agreement.

3. Exercise of Option. Written notice of an election to exercise any portion of the
Option shall be given by the Optionee, or his personal representative in the event of the
Optionee’s death, in accordance with procedures established by the Organizational Development and
Compensation Committee of the Board of Directors of the Company (the “Committee”) as in effect at
the time of such exercise.

At the time of exercise of the Option, payment of the purchase price for the shares of Common
Stock with respect to which the Option is exercised must be made by one or more of the following
methods: (i) in cash, (ii) in cash received from a broker-dealer to whom the Optionee has
submitted an exercise notice and irrevocable instructions to deliver the purchase price to the
Company from the proceeds of the sale of shares subject to the Option, (iii) by delivery to the
Company of other Common Stock owned by the Optionee that is acceptable to the Company, valued at
its fair market value on the date of exercise, or (iv) by certifying to ownership by attestation of
such previously owned Common Stock.

If applicable, an amount sufficient to satisfy all minimum Federal, state and local
withholding tax requirements prior to delivery of any certificate for shares of Common Stock must
also accompany the exercise. Payment of such taxes can be made by a method specified above, and/or
by directing the Company to withhold such number of shares of Common Stock otherwise issuable upon
exercise of the Option with a fair market value equal to the amount of tax to be withheld.

4. Exercise Upon Termination of Employment. If the Optionee’s employment with the
Company and all affiliates terminates for any reason other than death, disability or retirement,
the Option shall expire on the date of such termination, and no portion shall be exercisable after
the date of such termination.

If the Optionee’s employment with the Company and all affiliates terminates due to death or
disability, the outstanding portion of the Option shall become fully vested on such date and shall
continue to be exercisable until the earlier of the first anniversary of the date of the Optionee’s
termination of employment, or the date the Option expires by its terms. For this purpose
“disability” means (as determined by the Committee in its sole discretion) the inability of the
Optionee to engage in any substantial gainful activity by reason of any medically determinable
physical or mental impairment which is expected to result in death or disability or which has
lasted or can be expected to last for a continuous period of not less than 12 months.

If the Optionee’s employment with the Company and all affiliates terminates due to retirement,
the outstanding portion of the Option shall become fully vested on such date if so provided in the
table set forth below and the vested portion of the Option shall continue to be exercisable until
the earlier of the date specified in the table or the date the Option expires by its terms. For
this purpose, “retirement” means the Optionee’s termination without cause on or after the date on
which the Optionee (i) has completed five years of credited service and (ii) either (A) has
attained age 65 or (B) has attained age 55 and the sum of his age and credited service (his
“points”) equals or exceeds 60.

	 	 	 	 	 
	Age or Points	 	Vesting	 	Exercise Date
	Age 65 or 70

or more points

	 	All unvested options vest
	 	10 years following

termination of employment
	65-69 points

	 	All unvested options vest
	 	5 years following

termination of employment
	60-64 points

	 	All unvested options expire
	 	1 year following

termination of employment

The term “credited service” means the Optionee’s period of employment with the Company and all
affiliates (including any predecessor company or business acquired by the Company or any affiliate,
provided the Optionee was immediately employed by the Company or any affiliate). Age and credited
service shall be determined in fully completed years and months, with each month being measured as
a continuous period of 30 days. The term “cause” means the Optionee’s termination of employment
due to unsatisfactory performance or conduct detrimental to the Company or its affiliates, as
determined solely by the Company. The term “affiliate” means each entity with whom the Company
would be considered a single employer under Sections 414(b) and 414(c) of the Code, substituting
“at least 50%” instead of “at least 80%” in making such determination.

Any Optionee whose employment terminates due to retirement as described in this Section 4 must
execute and deliver to the Company an agreement, in a form prescribed by the Company, and in
accordance with procedures established by the Company, that he will not solicit employees,
customers or suppliers of the Company and its affiliates, or compete with the Company and its
affiliates, and that he releases all claims against the Company and its affiliates. If the
Optionee fails to execute such agreement, or if the agreement is revoked by the Optionee, the
Option shall expire on the date of the Optionee’s retirement, and no portion shall be exercisable
after the date of such retirement.

The foregoing provisions of this Section 4 shall be subject to the provisions of any written
employment security agreement or severance agreement that has been or may be executed by the
Optionee and the Company, and the provisions in such employment security agreement or severance
agreement concerning exercise of an Option shall supercede any inconsistent or contrary provision
of this Section 4.

Full vesting of an Incentive Stock Option may result in all or part of the Option being
treated as a Non-Qualified Stock Option in accordance with Section 6.4 of the Plan.

5. Option Not Transferable. The Option may be exercised only by the Optionee during
his lifetime and may not be transferred other than by will or the applicable laws of descent or
distribution or pursuant to a qualified domestic relations order. The Option shall not otherwise be
assigned, transferred, or pledged for any purpose whatsoever and is not subject, in whole or in
part, to attachment, execution or levy of any kind. Any attempted assignment, transfer, pledge, or
encumbrance of the Option, other than in accordance with its terms, shall be void and of no effect.

6. Surrender of or Changes to Agreement. In the event the Option shall be exercised
in whole, this Agreement shall be surrendered to the Company for cancellation. In the event this
Option shall be exercised in part or a change in the number of designation of the shares of Common
Stock shall be made, this Agreement shall be delivered by the Optionee to the Company for the
purpose of making appropriate notation thereon, or of otherwise reflecting, in such manner as the
Company shall determine, the change in the number or designation of such shares.

7. Administration. The Option shall be exercised in accordance with such
administrative regulations as the Committee shall from time to time adopt.

8. Governing Law. This Agreement, and the Option, shall be construed, administered
and governed in all respects under and by the laws of the State of Delaware.

IN WITNESS WHEREOF, this Agreement is executed by the Company this      day of      ,      ,
effective as of the      day of      ,      .

NEWELL RUBBERMAID INC.

By:

CH2\2312819.1

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