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GWW » Topics » Stock Option and Restricted Stock Unit Agreement

This excerpt taken from the GWW 10-K filed Mar 6, 2006.

Stock Option and Restricted Stock Unit Agreement

 

This Stock Option and Restricted Stock Unit Agreement (the “Agreement”) is dated as of ____________ and is entered into between W.W. Grainger, Inc., an Illinois corporation (the “Company”), and _____________ (the “Employee”).

 

Pursuant to the W.W. Grainger, Inc. 2005 Incentive Plan (the "Plan") and in consideration of the Employee's agreement to enter into that certain Unfair Competition Agreement between the Company and the Employee of even date herewith (the “Unfair Competition Agreement”), the Company desires to grant to the Employee (i) the right and option (“Option”) to purchase shares of the Company’s common stock (“Common Stock”) and (ii) restricted stock units (referred to herein as “RSUs”), and the Employee desires to enter into the Unfair Competition Agreement and accept such Option and RSUs (the “Awards”), on the terms and conditions set forth in this Agreement, the Plan and the Unfair Competition Agreement.

 

Capitalized terms used but not defined in this Agreement shall have the meanings specified in the Plan.

 

In consideration of the mutual promises set forth below and in the Unfair Competition Agreement, the parties hereto agree as follows:

 

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