This excerpt taken from the GPS 8-K filed Mar 23, 2006.
Approval of Forms of Agreements for New 2006 Long-Term Incentive Plan
On March 20, 2006, the Compensation and Management Development Committee of the Board of Directors of Gap Inc. (the Committee) approved forms of executive stock option agreement, executive stock award agreement, Chief Executive Officer stock option agreement, Chief Executive Officer stock award agreement, and Board of Director stock unit agreement and deferral election form. Copies of these form agreements are attached hereto as Exhibits 10.1, 10.2, 10.3, 10.4 and 10.5, respectively. These agreements will be used for grants to eligible employees and directors, both domestically and internationally, under the new 2006 Long-Term Incentive Plan approved in January 2006 and subject to shareholder approval at the Annual Meeting of Shareholders on May 9, 2006.