Amendment to Non-Qualified Stock Option Agreements between The Gap, Inc. and Brooks Walker, Jr.

Summary

The Gap, Inc. and Director Brooks Walker, Jr. have amended several existing stock option agreements. Under this amendment, if Mr. Walker retires from the Board, he will have up to three years from his retirement date to exercise his stock options granted under the company's 1996 Stock Option and Award Plan and the Nonemployee Director Deferred Compensation Plan. This change applies to a list of specific option grants and is effective as of April 3, 2001.

EX-10.3 4 dex103.txt AMENDMENT TO NON-QUALIFIED STOCK OPTION AGREEMENTS EXHIBIT 10.3 THE GAP, INC. AMENDMENT TO NON-QUALIFIED STOCK OPTION AGREEMENTS The Gap, Inc. (the "Company") and Brooks Walker, Jr. ("Director") are parties to certain agreements whereby the Company granted stock options to Director under the 1996 Stock Option and Award Plan (and its predecessor plan) and the Nonemployee Director Deferred Compensation Plan. The Company hereby amends the following agreements reflecting stock option awards to Director under such plans to provide that, with respect to the options represented by such agreements, upon Director's Retirement (as defined in the respective plan) from the Board, he shall be entitled to exercise such options up to the date three (3) years from the date of such Retirement: - ------------------------------- Option # Option Date - ------------------------------- 016282 4/29/98 - ------------------------------- T00016 5/1/98 - ------------------------------- T00051 7/31/98 - ------------------------------- T00064 10/30/98 - ------------------------------- T00069 1/29/99 - ------------------------------- T00075 4/30/99 - ------------------------------- 040025 5/5/99 - ------------------------------- T00099 7/30/99 - ------------------------------- T00109 10/29/99 - ------------------------------- T00117 1/28/00 - ------------------------------- T00143 4/28/00 - ------------------------------- 067705 5/8/00 - ------------------------------- T00173 7/28/00 - ------------------------------- T00230 10/27/00 - ------------------------------- T00354 2/2/01 - ------------------------------- IN WITNESS WHEREOF, the Company has executed this Agreement to be effective as of the date set forth below. THE GAP, INC. Dated: April 3, 2001 /s/ Donald G. Fisher -------------------- Donald G. Fisher Chairman of the Board