EX-10.32



 Exhibit 10.32 

SiteOne Landscape Supply, Inc. 

Form of 
 Employee Stock
Option Agreement 
 This Employee Stock Option Agreement (the “Agreement”), by and between SiteOne Landscape Supply,
Inc., a Delaware corporation (the “Company”), and the Employee whose name is set forth on Exhibit A hereto, is being entered into pursuant to the SiteOne Landscape Supply, Inc. 2016 Omnibus Equity Incentive Plan (the
“Plan”) and is dated as of the date it is accepted and agreed to by the Employee in accordance with Section 7(p). Capitalized terms that are used but not defined herein shall have the respective meanings given to them in the
Plan. 
 The Company and the Employee hereby agree as follows: 

Section 1. Grant of Options 

(a) Confirmation of Grant. The Company hereby evidences and confirms, effective as of the date set forth on Exhibit A
hereto (the “Grant Date”), its grant to the Employee of the number of options to purchase Shares as set forth on Exhibit A hereto (the “Options”), subject to adjustment pursuant to the Plan. The Options are not
intended to be incentive stock options under the Code. This Agreement is entered into pursuant to, and the terms of the Options are subject to, the terms of the Plan. 

(b) Option Price. The Option Price for each Share covered by the Options is the price set forth on Exhibit A hereto.

 Section 2. Vesting and Exercisability 

(a) Vesting. Except as otherwise provided in Section 5 or 2(b), the Options shall become vested, if at all, in the
percentage(s), and on the vesting date(s) set forth on the Exhibit A hereto (each, a “Vesting Date”), subject to the continued employment of the Employee by the Company or any Subsidiary through such date; provided that if
the Employee’s employment with the Company or the Subsidiaries is terminated (i) by reason of a Special Termination, (ii) by the Company without Cause, or (iii) by the Employee’s Retirement, a number of








 
Options shall vest equal to the number of Options that would have vested on the next scheduled Vesting Date, had the Employee remained employed through such Vesting Date, multiplied by a
fraction, (x) the numerator of which is the number of days from the immediately preceding Vesting Date (or the Grant Date, if the termination of employment occurs prior to the first Vesting Date) and (y) the denominator is
the number of days from the immediately preceding Vesting Date (or the Grant Date, if the termination of employment occurs prior to the first Vesting Date) through such next Vesting Date. For purposes of this Section 2 and Section 3, a
termination of the Employee’s employment shall be determined without regard to any statutory or deemed or express contractual notice period. 

(b) Discretionary Acceleration. The Administrator, in its sole discretion, may accelerate the vesting or exercisability
of all or a portion of the Options, at any time and from time to time. 
 (c) Exercise. Once vested in accordance with
the provisions of this Agreement, the Options may be exercised at any time and from time to time prior to the date such Options terminate pursuant to Section 3, subject to such generally applicable restrictions on exercise as may be imposed by
the Administrator (including customary blackout periods during which trading by employees may not occur). Options may only be exercised with respect to whole shares of Company Common Stock and must be exercised in accordance with Section 4.

 (d) No Other Accelerated Vesting. The vesting and exercisability provisions set forth in this Section 2 or in
Section 5, or expressly set forth in the Plan, shall be the exclusive vesting and exercisability provisions applicable to the Options and shall supersede any other provisions relating to vesting and exercisability, unless such other such
provision expressly refers to the Plan by name and this Agreement by name and date. 
 Section 3. Termination of Options 

(a) Normal Termination Date. Unless earlier terminated pursuant to Section 3(b) or Section 5, the Options
shall terminate on the tenth anniversary of the Grant Date (the “Normal Termination Date”), if not exercised prior to such date. 

  
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 (b) Early Termination. 

(i) If the Employee’s employment with the Company terminates for any reason, any Options held by the Employee that have
not vested before the effective date of such termination of employment or that do not become vested on such date in accordance with Section 2 shall terminate immediately upon such termination of employment and, if the Employee’s employment
is terminated for Cause or the Employee engages in Competitive Activity, all Options (whether or not then vested or exercisable) shall automatically terminate immediately upon such termination in the case of termination for Cause or the earliest
date of Competitive Activity and the Participant’s termination if the Participant has engaged in Competitive Activity. 

(ii) All vested Options held by the Employee following the effective date of a termination of employment shall remain
exercisable until the first to occur of (A) the 90th day following the effective date of the Employee’s termination of employment (or 12 months in the case of a Special
Termination or three years in the event of the Employee’s Retirement), (B) the Normal Termination Date or (C) the cancellation of the Options pursuant to Section 5, and, if not exercised within such period, the
Options shall automatically terminate upon the expiration of such period. If on the first date of the periods set forth in Section 3(b)(ii)(A) the Option is not exercisable solely due to any of the restrictions set forth in
Section 4(b)(A), (B) or (C), the Option will not expire until the earlier of the Normal Termination Date or 90 days following the first date on which exercise of the Option ceases to be barred by any such restriction. 

Section 4. Manner of Exercise 

(a) General. Subject to such reasonable administrative regulations as the Administrator may adopt from time to time, the
exercise of vested Options by the Employee shall be pursuant to procedures contained in the Plan and such other procedures established by the Administrator from time to time and shall include the Employee specifying in writing the proposed date on
which the Employee desires to exercise a vested Option (the “Exercise Date”), the number of whole Shares with respect to which the Options are being exercised (the “Exercise Shares”) and the aggregate Option Price
for such Exercise Shares (the “Exercise Price”), or such other or different requirements as may be specified by the Administrator. Unless otherwise determined by the Administrator, (i) on or before the Exercise Date the
Employee shall deliver to the Company full payment for the Exercise Shares in such manner as is permitted under 

  
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the Plan (including, if available, pursuant to a broker-assisted cashless exercise program established by the Company), in an amount equal to the Exercise Price plus any required
withholding taxes or other similar taxes, charges or fees, and (ii) on the Exercise Date, the Company shall register the issuance of the Exercise Shares on its records (or direct such issuance to be registered by the Company’s
transfer agent). The Administrator may require the Employee to furnish or execute such other documents as the Administrator shall reasonably deem necessary (i) to evidence such exercise or (ii) to comply with or satisfy the
requirements of the Securities Act, applicable state or non-U.S. securities laws or any other law. 
 (b) Restrictions on
Exercise. Notwithstanding any other provision of this Agreement, the Options may not be exercised in whole or in part, (A) unless all requisite approvals and consents of any governmental authority of any kind shall have been secured,
(B) unless the purchase of the Exercise Shares shall be exempt from registration under applicable U.S. federal and state securities laws, and applicable non-U.S. securities laws, or the Exercise Shares shall have been registered under
such laws, (C) at any time that exercise of the Option would violate the Company’s insider trading policy and unless, if applicable, the Employee has obtained pre-trading clearance for the exercise and (D) unless all
applicable U.S. federal, state and local and non-U.S. tax withholding requirements shall have been satisfied. The Company shall use its commercially reasonable efforts to obtain any consents or approvals referred to in clause (A) of the
preceding sentence, but shall otherwise have no obligations to take any steps to prevent or remove any impediment to exercise described in such sentence. 

Section 5. Change in Control. 

(a) Except as set forth in this Section 5 or as otherwise provided by the Administrator, a Change in Control shall not
accelerate the vesting or exercisability of the Options. 
 (b) In the event that the Administrator reasonably determines in
good faith, prior to the occurrence of a Change in Control, that no Alternative Awards will be provided upon a Change in Control, each unvested Option shall vest, and shall be canceled in exchange for a payment equal to the excess, if any, of the
Change in Control Price over the applicable Option Price. 

  
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 Section 6. Certain Definitions. As used in this Agreement, capitalized terms that are
not defined herein have the respective meaning given in the Plan, and the following additional terms shall have the following meanings: 

“Company” means SiteOne Landscape Supply, Inc.; provided that for purposes of determining the status of
Employee’s employment with the “Company,” such term shall include the Company and/or any of its Subsidiaries that employ the Employee. 

“Employee” means the grantee of the Options, whose name is set forth on Exhibit A hereto; provided that
for purposes of Section 4 and Section 7, following such person’s death “Employee” shall be deemed to include such person’s beneficiary or estate and following such Person’s Disability, “Employee” shall be
deemed to include such person’s legal representative. 
 “Option Price” means, with respect to each
share of Company Common Stock covered by an Option, the purchase price specified in Section 1(b) for which the Employee may purchase such share of Company Common Stock upon exercise of an Option. 

Section 7. Miscellaneous. 

(a) Withholding. The Company or one of its Subsidiaries shall require the Employee to satisfy any applicable U.S.
federal, state and local and non-U.S. tax withholding or other similar charges or fees that may arise in connection with the grant, vesting, exercise or purchase of the Options. 

(b) No Rights as Stockholder; No Voting Rights. The Employee shall have no rights as a stockholder of the Company with
respect to any Shares covered by the Options until the exercise of the Options and delivery of the Shares. No adjustment shall be made for dividends or other rights for which the record date is prior to the delivery of such Shares. 

(c) No Right to Continued Employment. Nothing in this Agreement shall be deemed to confer on the Employee any right to
continue in the employ of the Company or any Subsidiary, or to interfere with or limit in any way the right of the Company or any Subsidiary to terminate such employment at any time. 

  
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 (d) Nature of Award. This award of Options and any delivery or payment in
respect thereof constitutes a special incentive payment to the Employee and shall not be taken into account in computing the amount of salary or compensation of the Employee for the purpose of determining any retirement, death or other benefits
under (x) any retirement, bonus, life insurance or other employee benefit plan of the Company, or (y) any agreement between the Company and the Employee, except as such plan or agreement shall otherwise expressly provide.

 (e) Non-Transferability of Options. The Options may be exercised only by the Employee, or, following the
Employee’s death, by his designated beneficiary or by his estate in the absence of a designated beneficiary. The Options are not assignable or transferable, in whole or in part, and they may not, directly or indirectly, be offered, transferred,
sold, pledged, assigned, alienated, hypothecated or otherwise disposed of or encumbered (including, but not limited to, by gift, operation of law or otherwise) other than by will or by the laws of descent and distribution to the estate of the
Employee upon the Employee’s death or with the Company’s consent. 
 (f) Forfeiture of Awards. The Options
granted hereunder (and gains earned or accrued in connection therewith) shall be subject to such generally applicable policies as to forfeiture and recoupment (including, without limitation, upon the occurrence of material financial or accounting
errors, financial or other misconduct or Competitive Activity) as may be adopted by the Administrator or the Board from time to time and communicated to the Employee, and are otherwise subject to forfeiture or disgorgement of profits as set forth in
Article XIII of the Plan. The Employee hereby appoints the Company as the Employee’s attorney-in-fact of the undersigned to take such actions as may be necessary or appropriate to effect a transfer of the record ownership of any Shares acquired
from the Options to which such forfeiture or disgorgement provisions may apply. 
 (g) Consent to Electronic Delivery.
By entering into this Agreement and accepting the Options evidenced hereby, the Employee hereby consents to the delivery of information (including, without limitation, information required to be delivered to the Employee pursuant to applicable
securities laws) regarding the Company and its Subsidiaries, the Plan, this Agreement and the Options via Company website or other electronic delivery. 

  
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 (h) Binding Effect; Benefits. This Agreement shall be binding upon and
inure to the benefit of the parties to this Agreement and their respective successors and assigns. Nothing in this Agreement, express or implied, is intended or shall be construed to give any person other than the parties to this Agreement or their
respective successors or assigns any legal or equitable right, remedy or claim under or in respect of any agreement or any provision contained herein. 

(i) Waiver; Amendment. 

(i) Waiver. Any party hereto or beneficiary hereof may by written notice to the other parties (A) extend the
time for the performance of any of the obligations or other actions of the other parties under this Agreement, (B) waive compliance with any of the conditions or covenants of the other parties contained in this Agreement and
(C) waive or modify performance of any of the obligations of the other parties under this Agreement. Except as provided in the preceding sentence, no action taken pursuant to this Agreement, including, without limitation, any
investigation by or on behalf of any party or beneficiary, shall be deemed to constitute a waiver by the party or beneficiary taking such action of compliance with any representations, warranties, covenants or agreements contained herein. The waiver
by any party hereto or beneficiary hereof of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any preceding or succeeding breach and no failure by a party or beneficiary to exercise any right or privilege
hereunder shall be deemed a waiver of such party’s or beneficiary’s rights or privileges hereunder or shall be deemed a waiver of such party’s or beneficiary’s rights to exercise the same at any subsequent time or times
hereunder. 
 (ii) Amendment. This Agreement may not be amended, modified or supplemented orally, but only by a
written instrument executed by the Employee and the Company. 
 (j) Assignability. Neither this Agreement nor any
right, remedy, obligation or liability arising hereunder or by reason hereof shall be assignable by the Company or the Employee without the prior written consent of the other party. 

  
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 (k) Applicable Law. This Agreement shall be governed by and construed in
accordance with the law of the State of Delaware regardless of the application of rules of conflict of law that would apply the laws of any other jurisdiction. 

(l) Waiver of Jury Trial. Each party hereby waives, to the fullest extent permitted by applicable law, any right it may
have to a trial by jury in respect of any suit, action or proceeding arising out of this Agreement or any transaction contemplated hereby. Each party (i) certifies that no representative, agent or attorney of any other party has
represented, expressly or otherwise, that such other party would not, in the event of litigation, seek to enforce the foregoing waiver and (ii) acknowledges that it and the other parties have been induced to enter into the Agreement by,
among other things, the mutual waivers and certifications in this section. 
 (m) Lock-Up Periods. If the Company
files a registration statement under the Securities Act with respect to an underwritten public offering of any shares of its capital stock, the Employee shall not effect any public sale (including a sale under Rule 144 under the Securities Act or
other similar provision of applicable law) or distribution of any Company Common Stock, other than as part of such underwritten public offering, during the 20 days prior to and the 90 days after the effective date of such registration statement (or
such other period, not to exceed 180 days, as may be generally applicable to or agreed by the Company with respect to its transactions in its own Shares). If the Company files a prospectus in connection with a takedown from a shelf registration
statement, the Associate shall not effect any public sale (including a sale under Rule 144 under the Securities Act or other similar provision of applicable law) or distribution of any Company Common Stock, other than as part of such offering, for
20 days prior to and 90 days after the date the prospectus supplement is filed with the Securities and Exchange Commission. 

(n) Trading Policies. The Employee acknowledges and agrees that he or she shall be subject to, and shall comply with,
any of the Company’s trading policies, as in effect from time to time. 
 (o) Section and Other Headings, etc.
The section and other headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement. Unless otherwise indicated, section and exhibit references in this Agreement refer to
this Agreement. 

  
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 (p) Acceptance of Options and Agreement. The Employee has indicated his or
her consent and acknowledgement of the terms of this Agreement pursuant to the instructions provided to the Employee by or on behalf of the Company. The Employee acknowledges receipt of the Plan, represents to the Company that he or she has read and
understood this Agreement and the Plan, and, as an express condition to the grant of the Options under this Agreement, agrees to be bound by the terms of both this Agreement and the Plan. The Employee and the Company each agrees and acknowledges
that the use of electronic media (including, without limitation, a clickthrough button or checkbox on a website of the Company or a third-party administrator) to indicate the Employee’s confirmation, consent, signature, agreement and delivery
of this Agreement and the Options is legally valid and has the same legal force and effect as if the Employee and the Company signed and executed this Agreement in paper form. The same use of electronic media may be used for any amendment or waiver
of this Agreement. 

  
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 Exhibit A to 

Employee Stock Option Agreement 
  

			
	 Employee:
	 	  

		
	 Grant Date:
	 	 , 201

		
	 Options granted hereby:
	 	  

		
	 Option Price:
	 	  


  

			
	 Vesting Date
	  	Percentage
Vesting
on such Vesting
Date