Washington Federal Inc. Stock Option Award Agreement for Employees
Washington Federal Inc. grants an employee the right to purchase a specified number of company shares at a set price under its Stock Option Plan. The options vest over time according to a schedule and must be exercised before the expiration date. Both the company and the employee agree to the terms outlined in the Stock Option Plan and this agreement by signing. This agreement details the number of shares, vesting dates, and other key terms related to the stock options granted.
Exhibit 10.5
Notice of Grant of Stock Options and Option Agreement
Washington Federal Inc.
ID: 91-1661606
425 Pike St
| Seattle, | WA 98101 |
| Employee Name | Award Number: | Award number | ||
| Employee Address | Plan: | Plan Identification | ||
| ID: | ID number |
Effective XX/XX/XX, you have been granted a(n) incentive stock option to buy XXXXX shares of Washington Federal Inc. (the Company) common stock at a price of $XX.XX.
The total option price of the shares granted is $XX,XXX.XX.
Shares in each period will become fully vested on the date shown.
| Shares | Vest type | Full Vest | Expiration | |||
| XXX.XX | On vest date | XX/XX/XX | XX/XX/XX | |||
| XXX.XX | Annually | XX/XX/XX | XX/XX/XX | |||
| XXX.XX | Annually | XX/XX/XX | XX/XX/XX | |||
| XXX.XX | Annually | XX/XX/XX | XX/XX/XX | |||
| XXX.XX | Annually | XX/XX/XX | XX/XX/XX |
By your signature and the Company’s signature below, you and the Company agree that these options are granted under and governed by the terms and conditions of the Company’s Stock Option Plan as amended and the Option Agreement, all of which are attached and made a part of this document.
| Signatures: | ||
| Washington Federal, Inc. | Date: XX/XX/XX | |
| Employee | Date: XX/XX/XX | |
