Forms of Award Agreements under the Michaels Stores, Inc. 2005 Incentive Compensation Plan Amended April 21, 2006Employee Stock Option Agreement • June 13th, 2006 • Michaels Stores Inc • Retail-hobby, toy & game shops
Under the terms and conditions of the Michaels Stores, Inc. 2005 Incentive Compensation Plan (the “Plan”), a copy of which is attached hereto and incorporated herein by reference, Michaels Stores, Inc., a Delaware corporation (the “Company”), grants to the individual whose name is set forth above (the “Participant”) an option (the “Option”) to purchase the number of shares of the Company’s Common Stock set forth above at the price per share set forth above (the “Option Price”). Terms not defined in this Agreement have the meanings set forth in the Plan.
ContractChange in Control Severance Agreement • June 13th, 2006 • Michaels Stores Inc • Retail-hobby, toy & game shops • Texas
[FORM OF] CHANGE IN CONTROL SEVERANCE AGREEMENT (this “Agreement”) dated as of April 26, 2006, between Michaels Stores, Inc., a Delaware corporation (the “Company”), and [NAME] (the “Executive”).
