0000766421-11-000069 Sample Contracts

NONQUALIFIED STOCK OPTION AGREEMENT
Nonqualified Stock Option Agreement • August 4th, 2011 • Alaska Air Group Inc • Air transportation, scheduled • Delaware

THIS NONQUALIFIED STOCK OPTION AGREEMENT (this “Option Agreement”) dated [DATE], by and between ALASKA AIR GROUP, INC., a Delaware corporation (the “Corporation”), and [NAME] (the “Grantee”) evidences the nonqualified stock option (the “Option”) granted by the Corporation to the Grantee as to the number of shares of the Corporation's Common Stock first set forth below.

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PERFORMANCE STOCK UNIT AWARD AGREEMENT
Performance Stock Unit Award Agreement • August 4th, 2011 • Alaska Air Group Inc • Air transportation, scheduled • Delaware

THIS PERFORMANCE STOCK UNIT AWARD AGREEMENT (this “Agreement”) dated [DATE] by and between ALASKA AIR GROUP, INC., a Delaware corporation (the “Corporation”), and [name] (the “Participant”) evidences the award of stock units (the “Award”) granted by the Corporation to the Participant as to the number of stock units (the “Stock Units”) first set forth below.

STOCK UNIT AWARD AGREEMENT INCENTIVE AWARD
Stock Unit Award Agreement • August 4th, 2011 • Alaska Air Group Inc • Air transportation, scheduled • Delaware

THIS STOCK UNIT AWARD AGREEMENT (this “Agreement”) dated [DATE], by and between ALASKA AIR GROUP, INC., a Delaware corporation (the “Corporation”), and [NAME] (the “Participant”) evidences the award of restricted stock units (the “Award”) granted by the Corporation to the Participant as to the number of stock units (the “Stock Units”) first set forth below.

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