Document:

rsgagreement.htm

Exhibit 10.2

    Restricted
Stock Award Agreement

    Under
the

    ISCO
International, Inc. 2003 Equity Incentive Plan

     

    THIS
RESTRICTED STOCK AWARD AGREEMENT (this “Agreement”) is made
as of the 19th of
February 2008 (the “Date of Grant”),
between ISCO INTERNATIONAL, INC. (the “Company”) and AMR ABDELMONEM (the “Grantee”).

     

    WHEREAS,
the Company maintains the ISCO International, Inc. 2003 Equity Incentive Plan
(the “Plan”)
for the benefit of the key employees, directors and consultants of the Company
and its Affiliates; and

     

     

    WHEREAS,
the Grantee is an employee of the Company and is a party to the “Employment
Agreement” with the Company dated February 19th, 2008
(the “Employment
Agreement”); and

     

     

    WHEREAS,
the Plan permits the grant of Shares, subject to certain restrictions;
and

     

    WHEREAS,
in order to align the Grantee’s personal financial interests with those of the
Company’s stockholders, the Company desires to grant to the Grantee a number of
shares of Common Stock, subject to the restrictions and on the terms and
conditions contained in the Plan and this Agreement.

     

    NOW,
THEREFORE, in consideration of these premises and the agreements set forth
herein, the parties, intending to be legally bound hereby, agree as
follows:

     

    SECTION
1. Award of
Stock.  Subject to the terms and conditions set forth in this
Agreement and the Plan, the Company hereby grants 1,200,000 (one million two
hundred thousand) Shares (the “Restricted Shares”)
to the Grantee. The executive is eligible for additional grants of up to
2,000,000 (two million shares) in aggregate that will be stipulated in section
2.b  The terms of the Plan are hereby incorporated into this Agreement
by this reference, as though fully set forth herein.  Capitalized
terms used but not defined herein will have the same meaning as defined in the
Plan.

     

    SECTION
2. Vesting
of Restricted Shares.  The Restricted Shares are subject to
forfeiture to the Company until they become vested in accordance with this Section 2, as
follows:

     

    a. Time Vested
Shares.

     

    (i) 300,000
Restricted Shares will vest on June 15, 2008, if the Grantee remains
continuously employed by the Company through that date.

     

    (ii) an
additional 300,000 Restricted Shares will vest on December 15, 2008, if the
Grantee remains continuously employed by the Company through that
date;

     

    (iii) an
additional 300,000 Restricted Shares will vest on June 15, 2009, if the Grantee
remains continuously employed by the Company through that date; and

     

    (iv) an
additional 300,000 Restricted Shares will vest on December 15, 2009, if the
Grantee remains continuously employed by the Company through that
date.

     

    b. Performance Vested
Shares.

     

    (i) For the
2008 fiscal year, Executive will be eligible for a grant request to the
Compensation Committee of the Board of Directors equal to 300,000 restricted
shares upon achievement of 80% of specified performance goals, and a total of
600,000 restricted shared upon achievement of 100% of specified performance
goals, and a total of 1,000,000 restricted shares upon achievement of 130% of
specified performance goals, or an interpolated amount for accomplishing between
100% and 130% of approved performance goals. All  restricted shares
will vest on the filing date of the Company’s Form 10-K for the 2008 fiscal
year, if the Grantee remains continuously employed by the Company through that
filing date and the performance goals specified by the Company with respect to
that fiscal year have been achieved; and

     

    (ii) For the
2009 fiscal year, Executive will similarly be eligible for grant request to the
Compensation Committee of the Board of Directors equal to 300,000 restricted
shares upon achievement of 80% of specified performance goals, a total of
600,000 restricted shared upon achievement of 100% of specified performance
goals, and a total of 1,000,000 restricted shares upon achievement of 130% of
specified performance goals, or an interpolated amount for accomplishing between
100% and 130% of approved performance goals. Additional restricted shares and/or
cash compensation may be considered by the Compensation Committee is performance
exceeds 130% of goals.  All restricted shares will vest on the filing
date of the Company’s Form 10-K for the 2009 fiscal year, if the Grantee remains
continuously employed by the Company through that filing date and the
performance goals specified by the Company with respect to that fiscal year have
been achieved.

     

    (iii) The
performance goals relevant under this Section 2(b) (which
may include intermediate goals, the achievement of which will result in partial
vesting) will be determined by the Company, based on the Company’s operating
plan for the applicable year, and will be communicated to the Grantee not later
than 90 days following the start of the applicable year.  The Company
will determine in good faith whether the goals for any year have been
achieved.  In addition, the Company may in good faith make adjustments
to such goals so that departures from the Company’s operating plan, changes in
accounting principles, acquisitions, dispositions, mergers, consolidations and
other transactions, events or factors influencing the achievement or measurement
of such goals do not affect the operation of this section in a manner
inconsistent with its intended purpose of encouraging growth in the Company’s
equity value.

     

    c. Effect of
Termination.  Upon termination of the Grantee’s service to the
Company for any reason or for no reason (and whether such termination is by the
Company, the Grantee or otherwise), (i) any Restricted Shares which have not
prior to the effective date of such termination become vested pursuant to this
Section 2
will immediately and automatically, without any action on the part of the
Company, be forfeited by the Grantee to the Company, and (ii) the Grantee will
have no further rights with respect to those Shares.  Notwithstanding
the foregoing, if prior to December 15, 2009 the Grantee is involuntarily
terminated by the Company without “Cause” (as defined in Section 10.2 of the
Employment Agreement), 300,000 of the Restricted Shares otherwise subject to
vesting under Section
2(b) will become vested as of the date of such termination.

     

    d. Failure to Achieve
Performance Goals.  With respect to restricted shares subject
to vesting based on the achievement of a performance goals under Section 2(b), if the
performance goals for a given year are not achieved, then on the date of the
filing of the Company’s Form 10-K for that year (or, if earlier, upon a
conclusive determination by the Company that such goals were not achieved the
Grantee will not receive those Shares.

     

    e. Effect of Change in
Control.  If there occurs a Change in Control prior to December
31, 2009 and the Grantee remains in continuous service to the Company through
the date of that Change in Control, then immediately prior to (but contingent
upon) the occurrence of that Change in Control:

     

    (i) any
otherwise unvested restricted shares subject to vesting under Section 2(a) will
become vested; and

     

    (ii) restricted
shares otherwise subject to vesting under Section 2(b) based on
performance in the fiscal year of the Change in Control will enjoy an
accelerated grant request with immediate vesting to the extent that performance
for the portion of that year that transpires prior to the Change in Control
meets or exceeds a pro-rata portion of the performance goals specified by the
Board for that year under Section
2(b).

     

    SECTION
3. Share
Legends.  The certificates
evidencing all the Restricted Shares shall bear such legend(s) as may be
required by the Plan or applicable law.

     

    SECTION
4. Escrow of Restricted
Shares.

     

    a. Certificates Held in
Escrow.  Certificates evidencing the Restricted Shares issued
under this Agreement will be held in escrow by the Secretary of the Company or
his or her designee (the “Escrow Holder”) until such shares become vested in
accordance with Section 2, at
which time, the Escrow Holder will deliver such certificates representing the
Restricted Shares to the Grantee; provided, however, that no
certificates for Restricted Shares will be delivered to the Grantee until
appropriate arrangements have been made with the Company for the withholding or
payment of any taxes that may be due with respect to such shares.

     

    b. Forfeited Shares to be
Returned.  If the Restricted Shares are forfeited by the
Grantee under Section 2 or
9(g), the Escrow Holder will deliver the stock certificate(s) evidencing
those shares to the Company, which will then have the right to retain and
transfer those shares to its own name free and clear of any rights of the
Grantee under this Agreement or otherwise.

     

    c. Instructions to Escrow
Holder.  The Escrow Holder is hereby directed to permit
transfer of the Restricted Shares only in accordance with this Agreement or in
accordance with instructions which are consistent with this Agreement which are
signed by both parties.  In the event further instructions are
reasonably desired by the Escrow Holder, he or she shall be entitled to
conclusively rely upon directions executed by a majority of the members of the
Board.  The Escrow Holder shall have no liability for any act or
omissions hereunder while acting in good faith in the exercise of his or her own
judgment.

     

    SECTION
5. Rights of
Grantee.  The Grantee shall
have the right to vote the Shares and to receive cash dividends with respect to
the Restricted Shares; provided however, that any
cash dividends paid on the Restricted Shares while those shares remain
forfeitable will be reinvested in additional restricted Shares.  Such
additional restricted Shares will be subject to the same vesting conditions as
were applicable to the Restricted Shares giving rise to such dividends,
deposited with the Escrow Holder and included thereafter as Restricted Shares
for purposes of this Agreement.

     

    SECTION
6. Stock
Splits, etc.  If, while any of
the Restricted Shares remain subject to forfeiture, there occurs any merger,
consolidation, reorganization, recapitalization, stock split, stock dividend, or
other similar change in the Company’s common stock, then any and all new,
substituted or additional securities or other consideration to which the Grantee
is entitled by reason of the Grantee’s ownership of the Restricted Shares will
be immediately subject to escrow, deposited with the Escrow Holder and included
thereafter as “Restricted Shares”
for purposes of this Agreement.

     

    SECTION
7. Tax
Consequences.  The Grantee
understands and agrees that the Company has not advised the Grantee regarding
the Grantee’s income tax liability in connection with the vesting of the
Restricted Shares.  The Grantee has reviewed with the Grantee’s own
tax advisors the federal, state, local and foreign tax consequences of this
investment and the transactions contemplated by this Agreement.  The
Grantee is relying solely on such advisors and not on any statements or
representations of the Company or any of its agents.  The Grantee
understands that the Grantee (and not the Company) shall be responsible for the
Grantee’s own tax liability that may arise as a result of this investment or the
transactions contemplated by this Agreement and that he may pursuant to Section 9(g) be
required to pay cash to the Company at the time tax withholding obligations
arise with respect to the Restricted Shares.  The Grantee understands
that Section 83 of the Code taxes as ordinary income the difference between
(i) the amount (if any) paid for the Restricted Shares, and (ii) the
fair market value of the Restricted Shares on the date any restrictions on the
Restricted Shares lapse.  The Grantee understands that the Grantee may
elect to be taxed at the time the Restricted Shares are granted rather than when
the applicable restrictions lapse by filing an election under Section 83(b)
of the Code with the I.R.S. within 30 days from the date of
grant.  The Grantee acknowledges that it is the Grantee’s sole
responsibility and not the Company’s to file timely any 83(b)
election.

     

    SECTION
8. Restrictions
on Transfer.  Except for the
escrow described in Section 4 or the
forfeiture of the Restricted Shares to the Company as described in Section 2, none of
the Restricted Shares or any beneficial interest therein shall be transferred,
encumbered, pledged or otherwise alienated or disposed of in any way until the
Restricted Shares become vested.

     

    SECTION
9. General
Provisions.

     

    a. Entire
Agreement.  This Agreement, together with the Plan, represents
the entire agreement between the parties with respect to the grant of the Shares
and may only be modified or amended in a writing signed by both
parties.

     

    b. Notice.  Any
notice to be given to the Company will be addressed to the Company in care of
its Secretary (or such other person as the Company may designate from time to
time) at its principal executive office, and any notice to be given to the
Grantee will be delivered personally or addressed to him or her at the address
given beneath his or her signature, below, or at such other address as the
Grantee may hereafter designate in writing to the Company.  Any such
notice will be deemed duly given on the date and at the time delivered via
personal, courier or recognized overnight delivery service or, if sent via
telecopier, on the date and at the time telecopied with confirmation of delivery
or, if mailed, on the date five (5) days after the date of the mailing (which
will be by regular, registered or certified mail).  Delivery of a
notice by telecopy (with confirmation) will be permitted and will be considered
delivery of a notice notwithstanding that it is not an original that is
received.  Any notice to the Escrow Holder shall be sent to the
Company’s address, with a copy to the other party not sending the
notice.

     

    c. No Implied
Waiver.  Either party’s failure to enforce any provision or
provisions of this Agreement shall not in any way be construed as a waiver of
any such provision or provisions, nor prevent that party thereafter from
enforcing each and every other provision of this Agreement.

     

    d. No Right to Continued
Employment.  The grant of Shares hereunder will not confer upon
the Grantee any right to continue in the employ of the Company or any of its
subsidiaries or affiliates.

     

    e. Amendment.  The
Committee may from time to time impose any conditions on the Restricted Shares
as it deems necessary or advisable to ensure that the Plan and this award
satisfy the requirements of all applicable laws (including without limitation,
the conditions of Rule 16b-3), and that Restricted Shares are issued and resold
in compliance with the Securities Act of 1933, as amended.

     

    f. Governing
Law.  This Agreement shall be governed by, and enforced in
accordance with, the laws of the State of Delaware without regard to the
application of the principals of conflicts or choice of laws.

     

    g. Tax
Withholding.  Notwithstanding any other provision of this
Agreement, if the Grantee does not at least three (3) days prior to the date
that any Restricted Shares would otherwise vest (or, if the Grantee makes an
election under Section 83(b) of the Code with respect to Restricted Shares, at
least three days prior to the date of such election) deliver to the Company a
cash amount reasonably estimated to be sufficient to satisfy any required tax
withholding obligations with respect to the vesting of such Shares (or the
Section 83(b) election), then the Restricted Shares that would otherwise vest
(or be subject to that Section 83(b) election) will instead then be forfeited
automatically and the Grantee will have no further right to those
Shares.

     

    h. Counterparts and
Facsimiles.  This Agreement may be executed, including
execution by facsimile signature, in one or more counterparts, each of which
shall be deemed an original, and all of which together shall be deemed to be one
and the same instrument.

     

    IN
WITNESS WHEREOF, this Agreement has been executed by the parties on the 19th day
of February 2008.

     

    

     

    
      	 
      	
              ISCO
      INTERNATIONAL, INC.

            
	 
      	 
      
	
              By:

            	 
      
	
              Title:

            	 
      
	 
      	 
      
	 
      	
              GRANTEE

            
	 
      	 
      
	 
      	
              [Amr
      Abdelmonem]exv10w1

 

Exhibit 10.1

A NONQUALIFIED STOCK OPTION GRANT for the number of shares of Common Stock (hereinafter
the “Option”) as noted in the 2008 Notice of Grant of Stock Options (the “Notice”), of Nordstrom,
Inc., a Washington Corporation (the “Company”), is hereby granted to the “Optionee” on the date set
forth in the Notice, subject to the terms and conditions of the Agreement. The Option is also
subject to the terms, definitions and provisions of the Nordstrom, Inc. 2004 Equity Incentive Plan
(the “Plan”) adopted by the Board of Directors of the Company 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. The Compensation Committee of the Board has the
discretionary authority to construe and interpret the Plan and this Agreement. The Option is
subject to the following:

	1.	 	OPTION PRICE
	 
	 	 	The option price is one hundred percent (100%) of the fair market value of the Company’s Common
Stock, as determined by the closing price of the Company’s Common Stock on the New York Stock
Exchange on the date of grant. For this purpose, the “date of grant” is indicated in the 2008
Notice of Grant of Stock Options 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 in accordance with the
provisions of the Plan as follows:

	 	(a)	 	Schedule of Vesting and Rights to Exercise.

	 	 	 	 	 
	Years of Continuous Service	 	Percent of
	Following Grant of Option	 	Option Vested
	After 1 year
	 	 	25	%
	After 2 years
	 	 	50	%
	After 3 years
	 	 	75	%
	After 4 years
	 	 	100	%

	 	(b)	 	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
price, and the name, address and Social Security number of the Optionee;
	 
	 	(ii)	 	be signed by the person entitled to exercise the Option; and
	 
	 	(iii)	 	be in writing and delivered to Nordstrom Leadership Benefits (either directly
or through a broker).

	 	 	 	The Company has made arrangements with a broker for stock option management and exercises.
Procedures for management and exercises shall be disseminated to the Optionee with the
Agreement.
	 
	 	(c)	 	Payment upon Exercise. Payment of the purchase price of any
shares with respect to which an Option is being exercised shall be by:

	 	(i)	 	check or bank wire transfer,
	 
	 	(ii)	 	the surrender of shares of Common Stock previously held for at least six months by
Optionee, or where not acquired by Optionee by exercising a stock option, having a fair
market value at least equal to the exercise price, or
	 
	 	(iii)	 	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 in 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.
	 
	 	(d)	 	Restrictions on Exercise. These Options 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 these Options, the Company may require the person exercising
the Options 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 OPTIONS
	 
	 	 	Although the Company does 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 OPTIONS
	 
	 	 	The Option may not be sold, pledged, assigned or transferred in any manner otherwise than, in the
event of the Optionee’s death, either indicated on a valid Nordstrom Beneficiary Designation
form, by will or the laws of descent and distribution and, except as set forth in Section 5
below, 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 the Option shall be binding upon
the executors, administrators, heirs and successors of the Optionee.
	 
	5.	 	SEPARATION OF EMPLOYMENT
	 
	 	 	Except as set forth below, 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:

1   |   Nonqualified Stock Option Agreement Time-Vested Option

 

 

	 	(a)	 	If the Optionee dies while employed by the Company, the persons
named on the Optionee’s Beneficiary Designation 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. If the Option was granted at least six months prior to
the death of the Optionee while employed by the Company, it shall
continue to vest and may be exercised during the period ending four
years after the Optionee’s death, but in no event later than 10 years
after 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, the Option, if granted
at least six months prior to such separation, shall continue to vest
and may be exercised during the period ending four years after
separation, but in no event later than 10 years after the date of grant.
If the Option was granted less than six months prior to separation
due to the Optioner’s disability, such Option shall be forfeited as of
the date of separation.
	 
	 	(c)	 	If the Optionee is separated due to retirement between the ages of 53
and 57 with 10 continuous years of service to the Company, or upon
attaining age 58, the Option, if granted at least six months prior to
such retirement, shall continue to vest and may be exercised during
the period ending four years after separation, but in no event later
than 10 years after the date of grant. If the Option was granted less
than six months prior to retirement, such Option shall be forfeited as
of the date of separation.
	 
	 	(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, but in no event later than 10 years after the date of grant.

	 	 	Notwithstanding anything above to the contrary, if during the term of this Option, 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
Options set forth above shall cease immediately, and all outstanding vested and unvested portions
of the Options shall be automatically forfeited.

	6.	 	TERM OF OPTIONS
	 
	 	 	The Option may not be exercised more than 10 years from the date of original grant of these
Options, and the vested portion of such Option may be exercised during such term only in
accordance with the Plan and the terms of this Option.
	 
	7.	 	ADJUSTMENTS UPON CHANGES IN CAPITALIZATION
	 
	 	 	The number and kind of shares of Company stock subject to this Option shall be appropriately
adjusted, pursuant to the Plan, along with a corresponding adjustment in the option 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 Nordstrom Compensation Committee of the Board of Directors may or may not grant the Optionee
additional stock options in the future. Nothing in this Option or any future grant should be
construed as suggesting that additional grants of options to the Optionee will be forthcoming.
	 
	9.	 	LEAVES OF ABSENCE
	 
	 	 	For purposes of this Option, the Optionee’s service does not terminate due to a military leave, a
sick 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 2008 Notice of Grant of Stock Options 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 this Option, the Optionee, as a condition to the exercise of their Options, 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 Shares subject to this Option, unless and until (i) the
Optionee or the Optionee’s beneficiary or representative becomes entitled to receive such Common
Shares by filing a notice of exercise and paying the Option Price pursuant to this Option, and
(ii) the Optionee or Optionee’s beneficiary or representative has satisfied any other requirement
imposed by applicable law or the Plan.
	 
	12.	 	NO RETENTION RIGHTS
	 
	 	 	Nothing in this Option 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.

2   |   Nonqualified Stock Option Agreement Time-Vested Option

 

 

	13.	 	CLAWBACK POLICY
	 
	 	 	This Option is subject to the Clawback Policy adopted by the Company’s Board of Directors, which
provides as follows:
	 
	 	 	To the extent permitted by law, if the Board of Directors, with the recommendation of the
Compensation Committee, determines that any bonus, equity award, equity equivalent award or other
incentive compensation has been awarded or received by a Section 16 executive officer of the
Company, and that:

	 	(a)	 	such compensation was based on the achievement of certain
financial results that were subsequently the subject of a material
restatement of the Company’s financial statements filed with the
Securities and Exchange Commission,
	 
	 	(b)	 	the Section 16 executive officer engaged in grossly negligent or
intentional misconduct that caused or substantially caused the need

for the material restatement, and
	 
	 	(c)	 	the amount or vesting of the bonus, equity award, equity equivalent
or other incentive compensation would have been less had the

financial statements been correct,

	 	 	then the Board shall recover from the Section 16 executive officer such compensation (in whole or
in part) as it deems appropriate under the circumstances.
	 
	 	 	In the event the Clawback Policy is deemed unenforceable with respect to the Options, then the
award of Options subject to this Agreement shall be deemed unenforceable due to lack of adequate
consideration.

	14.	 	ENTIRE AGREEMENT
	 
	 	 	The 2008 Notice of Grant of Stock Options, 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.
	 
	15.	 	CHOICE OF LAW
	 
	 	 	This Agreement shall be governed by, and construed in accordance with, the laws of the State of
Washington, as such laws are applied to contracts entered into and performed in such State.

3   |   Nonqualified Stock Option Agreement Time-Vested Option

 

 

Nordstrom, Inc.

2008 Notice of Grant of Stock Options

	 	 	 
	Name

	 	Employee No: xxxxx
	 

	 	Grant No: xxxxx

Effective February 28, 2008, you were awarded nonqualified stock
options under the Nordstrom, Inc. 2004 Equity Incentive Plan (the “Plan”)
to purchase x,xxx shares of Nordstrom, Inc. stock at $x.xx per share.

Your grant is governed by your 2008 Nonqualified Stock Option Agreement
and the terms of the Plan. Your options under this grant will vest over
the four-year vesting period as outlined below:

	 	 	 	 	 
	Shares	 	Vest Date	 	Expiration
	x,xxx

	 	2/28/2009
	 	2/27/2018
	x,xxx

	 	2/28/2010
	 	2/27/2018
	x,xxx

	 	2/28/2011
	 	2/27/2018
	x,xxx

	 	2/28/2012
	 	2/27/2018

 

Please keep this Notice for your records.

If you have any questions about your grant, please contact Nordstrom Leadership
Benefits at (206) 303-5855, tie line 8-805-5855, or
leadership.benefits@nordstrom.com.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}]]