0001193125-09-016497 Sample Contracts

ALASKA AIR GROUP, INC. STOCK UNIT AWARD AGREEMENT INCENTIVE AWARD

Stock Unit Award Agreement • February 2nd, 2009 • Alaska Air Group Inc • Air transportation, scheduled • Delaware

• Contract Type
  Stock Unit Award Agreement
• Filed
  February 2nd, 2009
• Company
  Alaska Air Group Inc
• Industry
  Air transportation, scheduled
• Jurisdiction
  Delaware

THIS STOCK UNIT AWARD AGREEMENT (this “Agreement”) dated , by and between ALASKA AIR GROUP, INC., a Delaware corporation (the “Corporation”), and WILLIAM S. AYER (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.

ALASKA AIR GROUP, INC. NONQUALIFIED STOCK OPTION AGREEMENT INCENTIVE AWARD

Nonqualified Stock Option Agreement • February 2nd, 2009 • Alaska Air Group Inc • Air transportation, scheduled • Delaware

• Contract Type
  Nonqualified Stock Option Agreement
• Filed
  February 2nd, 2009
• Company
  Alaska Air Group Inc
• Industry
  Air transportation, scheduled
• Jurisdiction
  Delaware

THIS NONQUALIFIED STOCK OPTION AGREEMENT (this “Option Agreement”) dated , by and between ALASKA AIR GROUP, INC., a Delaware corporation (the “Corporation”), and WILLIAM S. AYER (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.