Document:

exhibit_10-1.htm

    EXHIBIT
      10.1

     

    MANAGEMENT
      AGREEMENT

     

    THIS
      AGREEMENT is made and entered into as of the 10th day of September, 2007 (the
      “Effective Date”), by and between Computer Sciences Corporation, a Nevada
      corporation (the “Company”), and Michael W. Laphen (“Executive”).

     

    W
      I T
      N E S S E T H:

     

    WHEREAS,
      Executive currently serves as the Company’s President and Chief Executive
      Officer, and as the Chairman of the Company’s Board of Directors (“Chairman”);
      and

     

    WHEREAS,
      the Company desires to obtain the benefit of continued services by Executive
      as
      President and Chief Executive Officer, and as Chairman, and Executive desires
      to
      continue to render services to the Company; and

     

    WHEREAS,
      the Board of Directors of the Company (the “Board”) has determined that it is in
      the best interests of the Company and its stockholders to recognize the
      substantial contribution that Executive has made and is expected to continue
      to
      make to the Company’s business and to retain his services in the future;
      and

     

    WHEREAS,
      Executive and the Company deem it to be in their respective best interests
      to
      enter into an agreement providing for the Company’s continued employment of
      Executive pursuant to terms herein stated, which terms include provisions for
      compensation and benefits to be paid or otherwise provided by the Company to
      Executive or his designated beneficiaries;

     

    NOW,
      THEREFORE, in consideration of the mutual promises and agreements herein, it
      is
      hereby agreed as follows:

     

    1.  Term
      of Employment; Duties.

     

    (a)  As
      used
      herein, the phrase “Term of Employment” shall mean the period commencing on the
      Effective Date and ending on the earliest to occur of the sixth anniversary
      of
      the Effective Date or the date of termination of the Executive’s employment in
      accordance with any one of Sections 6(a) through 6(e) below;
provided, however, that the Term of Employment may be extended
      after the sixth anniversary of the Effective Date, but only by action of the
      Company’s Board of Directors approving the terms and conditions of an offer of
      any such extension and giving written notice to Executive of such offer at
      least
      60 days prior to the expiration of the then effective Term of Employment,
      followed by Executive’s acceptance of such offer within such time as may be
      provided by the Board as a condition of such offer.

     

    (b)  The
      Company hereby agrees to employ Executive as its Chief Executive Officer and
      as
      its Chairman, in each case, for the Term of Employment, and Executive agrees
      to
      serve in these capacities with the duties and responsibilities customary to
      such
      positions in a company of the size and nature of the Company, protecting,
      encouraging and promoting the interests of the Company, and performing such
      other duties consistent with the offices held by Executive as may be reasonably
      assigned to him from time to time by the Board.  During the Term of
      Employment, Executive shall report solely and directly to the
      Board.

     

     

    
      
        
        

      

      
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    (c)  Executive
      shall devote all of his business time and attention to his duties on the
      Company’s behalf except for sick leave, vacations and approved leaves of
      absence; provided, however, that nothing shall preclude Executive from
      (i) managing his personal investments and affairs, (ii) participating
      in civic and nonprofit activities and (iii) participating as a member of the
      board of directors of such other companies as he may be invited and elected
      to
      serve with the consent of the Board of the Company, which consent shall not
      be
      unreasonably withheld; provided that in each case, the Executive shall not
      knowingly engage in activities inconsistent with the Company’s ethics codes and
      other conflicts of interests policies in effect from time to time or which
      materially interfere with or adversely affect the performance of Executive’s
      duties under this Agreement and provided further, that Executive shall resign
      as
      a member of the board of directors of another company if so requested by the
      Board.

     

    2.  Compensation.

     

    (a)  Base
      Salary.  The Company agrees to pay to Executive as a minimum
      salary during the Term of Employment the sum of $1,000,000 per year, payable
      in
      accordance with the normal payroll procedure of the Company as in effect from
      time to time.  Executive shall be entitled to such increases (but no
      decreases) in Executive’s base salary, if any, as may be determined from time to
      time in the sole discretion of the Board.  Executive’s annual base
      salary rate, as in effect from time to time, is hereinafter referred to as
      the
“Base Salary.”

     

    (b)  Annual
      Incentive Awards.  Executive shall participate in the Company’s
      Annual Management Incentive Plan, and any successor plan, on terms and
      conditions that are appropriate to his positions and responsibilities at the
      Company and are no less favorable than those applying to other senior executive
      officers of the Company.  Executive’s target bonus under the Annual
      Management Incentive Plan for the Company’s fiscal year ending March 28, 2008
      shall be equal to 200% of the Base Salary.  Executive’s target bonus
      under the Annual Management Incentive Plan (or any successor plan) for
      subsequent years shall be determined for each such year by the Compensation
      Committee of the Board but shall not be less than 200% of Base
      Salary.  Any annual incentive paid to Executive shall be in addition
      to the Base Salary and to any and all other benefits to which Executive is
      entitled as provided in this Agreement.  Payment of annual incentive
      awards shall be made at the same time that other senior executive officers
      of
      the Company receive their incentive awards.

     

    (c)  Long-Term
      Incentive Programs.  Executive shall participate in the equity and
      other long-term incentive compensation plans generally available to other senior
      executive officers of the Company from time to time on terms and conditions
      that
      are appropriate to his positions and responsibilities at the Company and are
      no
      less favorable than those generally applicable to such other senior executive
      officers.

     

    
      
        
        

      

      
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    3.  Employee
      Benefit Programs, Relocation.

     

    (a)  During
      the Term of Employment, Executive shall be entitled to participate in all
      employee pension and welfare benefit plans made available to the Company’s
      executive officers, as such plans may be in effect from time to time and on
      terms and conditions that are no less favorable than those generally applicable
      to other senior executive officers, including, without limitation, pension,
      profit sharing, savings and other retirement plans or programs, medical, dental,
      hospitalization, short-term and long-term disability and life insurance plans,
      accidental death and dismemberment protection, travel accident insurance, and
      any welfare benefit plans for senior executive officers that may be sponsored
      by
      the Company from time to time, including any retirement or welfare plans that
      supplement the above-listed types of plans, whether funded or
      unfunded.

     

    (b)  In
      the
      event that during the Term of Employment Executive relocates to the Los Angeles
      area, Executive shall be entitled to relocation benefits in accordance with
      the
      Company’s executive relocation benefits policy as in effect from time to
      time.

     

    4.  Supplemental
      Pension Benefit.  Notwithstanding Section 3 hereof, Executive
      shall be entitled to participate in the Company’s Supplemental Executive
      Retirement Plan, amended and restated as of February 14, 2006 ("SERP"), or
      such
      successor or amended plan(s) as shall be adopted from time to
      time.  Executive shall not be required to participate in any successor
      to the SERP if such successor plan fails to contain terms and conditions
      applicable to Executive that are no less favorable than those applicable to
      other senior executive officers of the Company, and he may instead provide
      the
      Company with his written election to remain as a participant in the
      SERP.

     

    So
      long as Executive continues to
      participate in the SERP, in the event of Executive's termination of employment
      on account of (1) Disability, (2) the Company's termination of Executive's
      employment without Cause, or (3) Executive's resignation from employment either
      for Good Reason or with the consent of the Board, Executive's additional
      benefits under Part B of the SERP (Article XXIII(b)) shall be calculated as
      if
      Executive had attained the lesser of (a) age 62 or (b) Executive's actual age
      plus three (3) years at the time of such termination of employment, and
      Executive's benefits as thus determined shall be fully vested.  The
      preceding sentence shall not be required to apply to the determination of
      Executive's benefits under any successor or replacement plan(s) for the SERP
      as
      the Company may adopt in the future.

     

    5.  Perquisites,
      Vacations and Reimbursement of Expenses.  During the Term of
      Employment:

     

    (a)  The
      Company shall furnish Executive with, and Executive shall be allowed full use
      of, office facilities, automobiles, secretarial and clerical assistance and
      other Company property and services commensurate with his position and of at
      least comparable quality, nature and extent to those made available to other
      senior executive officers of the Company from time to time;

     

     

    
      
        
        

      

      
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    (b)  Executive
      shall be allowed vacations and leaves of absence with pay on a basis no less
      favorable than that applicable to other senior executive officers of the
      Company;

     

    (c)  The
      Company shall reimburse Executive for reasonable business expenses incurred
      by
      Executive in the performance of his duties hereunder, such reimbursements to
      be
      effected in accordance with normal Company reimbursement procedures from time
      to
      time in effect; and

     

    (d)  The
      Company shall continue to provide use of the Company’s aircraft at the Company’s
      expense for Executive’s business use in accordance with the Company’s policies
      in effect from time to time.  In addition, it being recognized that
      some of Executive’s personal travel using the Company’s aircraft may be required
      for purposes for security and/or ensuring Executive's availability for the
      demands of the Company's business, the Company shall permit the use of the
      Company’s aircraft at the Company’s expense for reasonable personal use by
      Executive and accompanying family members.  Income will be imputed to
      Executive for any such personal use in accordance with applicable tax law.
      Executive will not receive a tax gross-up on any such imputed
      income.

     

    6.  Termination
      of Employment.

     

    The
      rights and obligations of Executive and the Company in the event of Executive’s
      employment termination following a change of control, as defined in the
      Company’s Severance Plan for Senior Management and Key Employees, as amended and
      restated effective January 1, 2005, or such amended or successor plan then
      in
      effect (the “Severance Plan”) shall be governed exclusively by the Severance
      Plan.  The Company hereby acknowledges that Executive shall from and
      after the Effective Date be designated as a member of Group A under the terms
      of
      the Severance Plan.  No further payment or benefit shall be made or
      granted under this Agreement in the event Executive becomes entitled to
      severance benefits under the terms of the Severance Plan.

     

    (a)  Termination
      Due to Death.  In the event that Executive’s employment is
      terminated due to his death, the Company’s payment obligations under this
      Agreement shall terminate, except that Executive’s estate or his beneficiaries,
      as the case may be, shall be entitled to the following:

     

    (1)  (i) the
      Base Salary through the date of termination (including accrued but unused
      vacation), (ii) any earned but unpaid portion of Executive’s annual
      incentive award provided for in Section 2(b) for the fiscal year preceding
      the
      year of termination, (iii) reimbursement for any unreimbursed business
      expenses properly incurred by Executive pursuant to this Agreement or in
      accordance with Company policy prior to the date of Executive’s termination, and
      (iv) such employee benefits, if any, as to which Executive may be entitled
      under the employee benefit plans of the Company according to their terms (the
      amounts described in clauses (i) through (iv) of this Section 6(a)(1),
      reduced (but not below zero) by any amounts owed by Executive to the Company
      (such as the Company's tax withholding obligations under any taxable
      compensation paid to Executive), being referred to as the “Accrued Rights”);
      and

     

     

    
      
        
        

      

      
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    (2)  a
      pro
      rata annual incentive award provided for in Section 2(b) for the fiscal year
      in
      which Executive’s death occurs, based on the Company’s actual performance for
      the entire year and the number of calendar months during the fiscal year that
      Executive was employed prior to such termination (rounded up to the next whole
      month), payable at the time annual bonuses are paid for such fiscal year to
      executives of the Company generally; and

     

    (3)  in
      addition to Executive's outstanding stock options, restricted stock and
      restricted stock units ("Stock Awards") being administered in accordance with
      the terms of the written agreements setting forth the terms of each such Stock
      Award, in the event of Executive's death at age 61 or younger, all unvested
      Stock Awards shall vest in their entirety, and Executive's beneficiaries shall
      have a period of one (1) year (or the date of expiration, if earlier) to
      exercise an outstanding stock option.

     

    (b)  Termination
      due to Disability.

     

    (1)  If,
      as a
      result of Executive’s incapacity due to physical or mental illness, accident or
      other incapacity (as determined by the Board in good faith, after consideration
      of such medical opinion and advice as may be available to the Board from medical
      doctors selected by Executive or by the Board or both separately or jointly),
      Executive shall have been absent from his duties with the Company on a full-time
      basis for six consecutive months and, within 30 days after written notice of
      termination thereafter given by the Company, Executive shall not have returned
      to the full-time performance of Executive’s duties, the Company or Executive may
      terminate Executive’s employment for “Disability.”

     

    (2)  In
      the
      event that Executive’s employment is terminated due to Disability, he shall be
      entitled to the following benefits:

     

    (i)  the
      Accrued Rights; and

     

    (ii)  a
      pro
      rata annual incentive award provided for in Section 2(b) for the fiscal year
      in
      which Executive’s Disability occurs, based on the Company’s actual performance
      for the entire year and the number of calendar months during the fiscal year
      that Executive was employed prior to such termination (rounded up to the next
      whole month), payable at the time annual bonuses are paid for such fiscal year
      to executives of the Company generally;

     

    (iii)  in
      addition to Executive's outstanding Stock Awards being administered in
      accordance with the terms of the written agreements setting forth the terms
      of
      each such Stock Award, in the event of Executive's Disability at age 61 or
      younger constitutes a "Permanent Disability" as set forth in the terms of
      Executive's stock option agreements, all unvested Stock Awards will continue
      to
      vest as if Executive had remained employed for the succeeding five (5) years,
      and Executive shall have a period of five (5) years (or the date of expiration,
      if earlier) to exercise an outstanding stock option.

     

    (c)  Termination
      by the Company for Cause.

     

     

    
      
        
        

      

      
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    (1)  The
      Company shall have the right to terminate Executive’s employment at any time for
      Cause in accordance with this Section 6(c).

     

    (2)  For
      purposes of this Agreement, “Cause” shall mean:

     

    (i)  fraud,
      intentional misappropriation, embezzlement or other act of material misconduct
      against the Company or any of its affiliates;

     

    (ii)  gross
      negligence, chronic neglect, willful malfeasance or gross misconduct in
      connection with Executive’s employment hereunder;

     

    (iii)  conviction
      or plea of guilty or nolo contendere of a felony or other crime involving moral
      turpitude;

     

    (iv)  willful
      and knowing violation of any rules or regulations of any governmental or
      regulatory body material to the business of the Company; provided that for
      clarity, a violation shall not be considered as willful or knowing where
      Executive has acted in a manner consistent with specific advice of outside
      counsel to the Company and such action is not a violation of U.S. federal,
      state
      or local law or the rules of any U.S.-based stock exchange on which securities
      of the Company are actively traded.

     

    (v)  failure
      to cooperate, if requested by the Board, with any investigation or inquiry
      into
      Executive’s or the Company’s business practices, whether internal or external,
      including, but not limited to Executive’s refusal to be deposed or to provide
      testimony at any trial or inquiry; or

     

    (vi)  substantial
      and willful failure to render services in accordance with the terms of this
      Agreement (other than as a result of illness, accident, or other physical or
      mental incapacity) or other material breach of this Agreement.

     

    (3)  No
      termination of Executive’s employment by the Company for Cause shall be
      effective unless the provisions of this Section 6(c)(3) shall have been complied
      with and unless a majority of the members of the Board have duly voted to
      approve such termination.  Executive shall be given written notice by
      the Board of its intention to terminate him for Cause, which notice (A) shall
      state in detail the particular circumstances that constitute the grounds on
      which the proposed termination for Cause is based and (B) shall be given no
      later than ninety (90) days after the first meeting of the Board at which the
      Board became aware of the occurrence of the event giving rise to such
      grounds.  Executive shall have 30 days after receiving such notice in
      which to cure such grounds, to the extent such cure is possible.  If
      he fails to cure such grounds within such 30-day period, Executive’s employment
      with the Company shall thereupon be terminated for Cause.  If the
      Board determines in good faith that the grounds are not curable, Executive’s
      employment with the Company shall be terminated for Cause upon Executive’s
      receipt of written notice from the Board.

     

     

    
      
        
        

      

      
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    (4)  In
      the
      event the Company terminates Executive’s employment for Cause, he shall be
      entitled to the Accrued Rights.

     

    (d)  Termination
      Without Cause or for Good Reason or With Board Consent.

     

    (1)  In
      the
      event (A) Executive’s employment is terminated by the Company without Cause
      (other than due to death or Disability), or (B) Executive terminates his
      employment for Good Reason or otherwise if the Board issues its consent to
      such
      termination, Executive shall be entitled to receive the Accrued Rights and,
      subject to (X) Executive’s continued compliance with the provisions of
      Sections 11, 12 and 13 hereof and (Y) Executive’s execution and
      non-revocation of a release of claims substantially in the form attached hereto
      as Exhibit A, with such changes as may be required by changes in applicable
      law,
      the following:

     

    (i)  a
      pro
      rata annual incentive award provided for in Section 2(b) for the fiscal year
      in
      which Executive’s death occurs, based on the Company’s actual performance for
      the entire year and the number of calendar months during the fiscal year that
      Executive was employed prior to such termination (rounded up to the next whole
      month), payable at the time annual bonuses are paid for such fiscal year to
      executives of the Company generally;

     

    (ii)  a
      severance payment in an amount equal to 2 times the sum of (i) the Base
      Salary, as in effect immediately prior to the delivery of notice of termination,
      plus (ii) Executive’s target annual incentive award provided for in Section
      2(b) for the fiscal year in which such termination occurs, payable in 24 equal
      monthly installments following Executive’s termination; and

     

    (iii)  if
      Executive elects to continue coverage under the Company’s medical, dental,
      and/or vision insurance plans pursuant to COBRA following termination of
      employment, the Company will pay Executive’s COBRA premiums for a period of 18
      months following termination (or such shorter period that Executive is entitled
      to COBRA continuation coverage); and

     

    (iv)  in
      addition to Executive's outstanding Stock Awards being administered in
      accordance with the terms of the written agreements setting forth the terms
      of
      each such Stock Award, in the event of (1) Executive's termination of employment
      by the Company without Cause (other than due to death or Disability), or (2)
      Executive terminates his employment for Good Reason or otherwise if the Board
      issues its consent to such termination, in either case at a time when Executive
      is age 61 or younger, then Executive shall have a period of two (2) years (or
      the date of expiration, if earlier) to exercise an outstanding stock
      option.  In the event that the terms "Cause" and/or "Good Reason" are
      already defined in a particular Stock Award agreement, then the definition
      set
      forth in that agreement shall continue to apply for purposes of applying any
      severance provisions described in this Agreement to such Stock Award
      agreement.

     

     

    
      
        
        

      

      
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    (2)  For
      purpose of this Agreement, Good Reason shall mean the occurrence of any of
      the
      following subsequent to the Effective Date of this Agreement without Executive’s
      consent:

     

    (i)  the
      failure to elect or reelect Executive to the positions of Chairman and Chief
      Executive Officer or the removal of him from either such position;

     

    (ii)  the
      assignment to Executive of duties that are materially inconsistent with, or
      that
      materially impair his ability to perform, the duties customarily assigned to
      a
      Chairman and Chief Executive Officer of a corporation of the size and nature
      of
      the Company; or a change in the reporting structure so that Executive reports
      to
      someone other than the Board or is subject to the direct or indirect authority
      or control of a person or entity other than the Board;

     

    (iii)  any
      material breach by the Company of this Agreement;

     

    (iv)  conduct
      by the Company that would cause Executive to commit fraudulent acts or would
      expose Executive to criminal liability; or

     

    (v)  the
      Company fails to obtain the assumption in writing of its obligation to perform
      this Agreement by any successor to all or substantially all of the Company’s
      business or assets of the Company.

     

    (3)  No
      termination of Executive’s employment by Executive for Good Reason shall be
      effective unless the provisions of this Section 6(d)(3) shall have been complied
      with.  Executive shall give written notice to the Company of his
      intention to terminate his employment for Good Reason, which notice shall
      (i) state in detail the particular circumstances that constitute the
      grounds on which the proposed termination for Good Reason is based and
      (ii) be given no later than 90 days after the first occurrence of such
      circumstances.  The Company shall have 30 days after receiving such
      notice in which to cure such grounds.  If the Company fails to cure
      such grounds within such 30-day period, Executive’s employment with the Company
      shall thereupon terminate for Good Reason.

     

    (e)  Voluntary
      Termination.  Executive shall have the right to terminate his
      employment with the Company at any time.  A voluntary termination
      shall mean a termination of employment by Executive on his own initiative,
      other
      than a termination due to death or Disability or for Good Reason, and if the
      Board does not issue its consent to such voluntary termination such that it
      is
      treated as if such voluntary termination were a resignation for Good Reason,
      then Executive's voluntary termination shall have the same consequences as
      provided in Section 6(c)(4) for a termination for Cause.

     

    (f)  Expiration
      of Term of Employment.  In the event Executive’s employment with
      the Company terminates upon the expiration of the Term of Employment he shall
      be
      entitled to the Accrued Rights.

     

     

    
      
        
        

      

      
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    (g)  Effect
      of Section 409A of the Code.  Notwithstanding anything to the
      contrary in this Agreement, if, upon the advice of its counsel, the Company
      determines that any payments or benefits to be provided to Executive pursuant
      to
      this Section 6 are or may become subject to the additional tax under Section
      409A(a)(1)(B) of the Internal Revenue Code of 1986, as amended (the “Code”) or
      any other taxes or penalties imposed under Section 409A of the Code (“409A
      Taxes”) as applicable at the time such payments and benefits are otherwise
      required under this Agreement, then: (i) such payments or benefits shall be
      delayed until the date that is six months after the date of Executive’s
“separation from service” (as such term is defined under Section 409A of the
      Code) with the Company, or such shorter period that, in the opinion of such
      counsel, is sufficient to avoid the imposition of 409A Taxes (the “Payments
      Delay Period”), and (ii) such payments (other than a delay in vesting of
      any Stock Award) shall be increased by an amount equal to interest on such
      payments for the Payments Delay Period at a rate equal to the 120-month rolling
      average yield to maturity of the index called the “Merrill Lynch U.S. Corporate,
      A Rated, 15+ Years Index” (or any successor index, or if neither exists, the
      most similar index which does exist) as of December 31 of the year preceding
      the
      year in which the Payments Delay Period commences, compounded
      annually.

     

    7.  Indemnification
      and Insurance.

     

    (a)  The
      Company and Executive acknowledge that they are parties to an Indemnification
      Agreement, dated as of August 14, 2001, which agreement shall not be affected
      by
      this Agreement.

     

    (b)  The
      Company agrees that Executive shall continue to be covered as a named insured
      under the Company’s Directors’ and Officers’ liability insurance as applicable
      from time to time to the Company’s senior executive officers on terms and
      conditions that are no less favorable than those applying to such other senior
      executive officers.

     

    8.  No
      Mitigation; No Offset.  In the event of a termination of
      Executive’s employment for any reason, Executive shall not be required to seek
      other employment or to mitigate any of the Company’s obligations under this
      Agreement, and except as otherwise provided in this Agreement, no amount payable
      under Section 6 shall be reduced by (a) any claim the Company may assert
      against the Executive or (b) any compensation or benefits earned by Executive
      as
      a result of employment by another employer, self-employment or from any other
      source after such termination of employment with the
      Company.  Notwithstanding any other provision of this Agreement, any
      sum or sums paid under this Agreement shall be reduced and offset by any sums
      paid to Executive under the Severance Plan.

     

    9.  Designated
      Beneficiary.  In the event of the death of Executive while in the
      employ of the Company, or at any time thereafter during which amounts remain
      payable to Executive under Section 6 above, such payments shall thereafter
      be made to such person or persons as Executive may specifically designate
      (successively or contingently) to receive payments under this Agreement
      following Executive’s death by filing a written beneficiary designation with the
      Company during Executive’s lifetime.  Such beneficiary designation
      shall be in such form as may be reasonably prescribed by the Company and may
      be
      amended from time to time or may be revoked by Executive pursuant to written
      instruments filed with the Company during his lifetime.  Beneficiaries
      designated by Executive may be any natural or legal person or persons, including
      a fiduciary, such as a trustee of a trust, or the legal representative of an
      estate.  Unless otherwise provided by the beneficiary designation
      filed by Executive, if all of the persons so designated die before Executive
      on
      the occurrence of a contingency not contemplated in such beneficiary
      designation, or if Executive shall have failed to provide such beneficiary
      designation, then the amount payable under this Agreement shall be paid to
      Executive’s estate.

     

     

    
      
        
        

      

      
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    10.  Ethics.  During
      the Term of Employment, Executive shall be subject to the Company’s Code of
      Ethics and Standards of Conduct (the “Policies”), as the Policies may be updated
      from time to time, which Policies are set forth on the Corporate Governance
      page
      of the Company's website (www.csc.com).  If for any reason an
      arbitrator, subject to judicial review as provided by law, or a court should
      determine that any provision of the Policies is unreasonable in scope or
      otherwise unenforceable, such provision shall be deemed modified and fully
      enforceable as so modified to the extent the arbitrator and any reviewing court
      determines what would be reasonable and enforceable under the
      circumstances.

     

    11.  Inventions

     

    (a)  All
      inventions, discoveries, developments and improvements conceived or made by
      Executive, alone or with others, prior to Executive’s employment by the Company,
      or during Executive’s employment by the Company prior to the date of this
      Agreement but which Executive believes that he owns, are listed and described
      on
      Appendix B to this Agreement.  To the best of Executive’s
      knowledge this list is complete (or if no items are so listed, Executive has
      nothing to so disclose).  Executive understands that his failure to
      list any item will require that he demonstrate through clear, tangible and
      convincing evidence that he or his assigns own an item which the Company
      believes it owns.  If it is determined that Executive owns any
      unlisted item, and the Company has expended monies to develop it, the Company
      shall be entitled to the use of same without royalty payments to Executive
      or
      his assigns.

     

    (b)  Executive
      will promptly and fully inform the Company of all inventions, discoveries,
      developments and improvements that he may conceive, discover, develop or make
      during his employment, whether made solely or jointly with others, whether
      or
      not patentable, and whether or not such conception, discovery or making involves
      the use of the Company’s time, facilities, equipment or personnel (collectively,
“Inventions”).  Executive acknowledges and agrees that all such
      Inventions relating to any work he performs for the Company or any business
      in
      which the Company is or intends to be engaged are “works for hire” under
      applicable law and shall belong to the Company.  Executive further
      agrees to assign, and does hereby assign, to the Company all right, title and
      interest in and to any and all such Inventions and agrees to execute all
      documents deemed necessary or desirable by the Company in connection therewith,
      including patent and/or copyright assignments, and to cooperate both during
      and
      after his employment with the Company, at the Company’s expense, in all further
      actions deemed necessary or desirable to confirm, register, protect or enforce
      the Company’s right therein.  The Company and Executive acknowledges
      that the foregoing assignment does not include any invention unrelated to the
      Company’s business or research which meets the requirements of Section 2870 of
      the California Labor Code, or any successor provision thereto.

     

    12.  Confidential
      Information and Trade Secrets

     

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    (a)  Executive
      acknowledges that the term “Confidential Information” as used in this Agreement
      means all items, materials and information (whether or not reduced to writing
      and whether or not patentable or copyrightable) which belong to the Company
      or
      which the Company’s suppliers or customers or clients have communicated to the
      Company in the course of the Company’s business, and which reflect, consist of
      or refer to:

     

    (1)  information
      technology; methods and processes; designs and formulations; the content or
      composition of goods or services; techniques; business strategies or operations;
      formulas; compilations of data or reports; plans; tools or equipment;
      inventions; know-how; technical disclosures, patent applications, blueprints
      or
      specifications; financial, marketing, sales, personnel or salary information;
      forms, legal documents or memoranda; software, computer programs or databases;
      any documents prepared by or on behalf of the Company or Company suppliers,
      customers or clients;

     

    (2)  information
      compiled, collected or developed by the Company reflecting the identities of
      those customers and clients of the Company which are not generally known outside
      the Company or whose relationship with the Company as a customer or client
      is
      not generally known outside the Company; characteristics of any customers or
      clients of the Company or of customer or client representatives, including
      without limitation product or service preferences or requirements, cost or
      price
      information for goods or services offered or sold, credit terms or credit
      performance, actual or likely order cycles, the nature of goods delivered or
      services performed, or research or development plans or activities;

     

    (3)  information
      compiled, collected, or developed by the Company reflecting identities of any
      suppliers of the Company which are not generally known outside the Company
      or
      whose relationship with the Company as a supplier is not generally known outside
      the Company; characteristics of any supplier of the Company, or supplier
      representatives, including without limitation cost or price information for
      goods or services offered or purchased, audit terms, the nature of goods
      delivered or service performed, product or service quality and reliability,
      delivery terms, or research or development plans or activities;

     

    (4)  prices,
      fees, discounts, selling techniques or distribution methods used by the Company;
      or

     

    (5)  any
      other
      confidential or proprietary information obtained directly or indirectly while
      employed by the Company.

     

    (b)  Executive
      acknowledges that the term “Trade Secret” as used in this Agreement means the
      whole or any portion or phrase of any scientific or technical or business
      information, including, but not limited to, any design, process, procedure
      or
      system, formula, improvement, or invention that (i) derives independent
      economic value, actual or potential, from not being generally known to the
      public or to other persons who can obtain economic value from its disclosure
      or
      use, and (ii) is the subject of the Company’s reasonable efforts to maintain its
      secrecy.  In addition to information belonging to the Company,
      information furnished to the Company by other parties can be a Trade
      Secret.

     

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    (c)  The
      term
“Confidential Information” includes information which may also be a Trade
      Secret, but does not include anything described above which is now generally
      known by parties other than the Company, its affiliates and employees, or
      becomes generally known, through no breach of this Section 12 on the part of
      Executive.

     

    (d)  Executive
      acknowledges that Confidential Information is and remains confidential
      regardless of whether or not any Company report or form or other document
      contains any statement regarding confidentiality.

     

    (e)  Executive
      agrees to hold all Confidential Information in confidence and to not use
      directly or indirectly, for Executive’s own benefit or the benefit of any other
      party, corporate or otherwise, or publish or cause to be published or otherwise
      disclose to anyone other than the Company or its designee, any Confidential
      Information or Trade Secrets except as compelled by law and except as required
      to conduct the Company’s business.

     

    (f)  Executive
      will, upon demand, and without demand immediately upon the termination of
      Executive’s employment, surrender to the Company any and all documents,
      including without limitation computer memory, reports and forms containing
      Confidential Information and any and all other business records, prototypes
      and
      materials which Executive may have created or received from the Company during
      Executive’s employment, or which pertain to the Company’s business, and all
      copies thereof, which are in Executive’s possession or control at the time of
      the demand or the termination of Executive’s employment, however made or
      obtained.

     

    13.  No
      Solicitation, No Interference, No Disparagement.  During
      Executive’s employment, and for a period of 24 months immediately following
      Executive’s employment termination (voluntary or otherwise), Executive agrees to
      honor the following representations:  (a) Executive shall not
      induce, or aid others to induce, any individual who is, or was during the 6
      months preceding the time of the aid or inducement, employed by the Company
      or
      any of its subsidiaries to terminate his or her employment with the Company
      or
      any of its subsidiaries or do anything which violates any written employment
      agreement he or she may have with the Company or any of its subsidiaries,
      (b) in recognition of the status of information regarding compensation and
      other personnel information of Company employees as Confidential Information,
      Executive shall not solicit or aid others to solicit an individual who is,
      or
      was during the 6 months preceding the time of the solicitation, employed by
      the
      Company or any of its subsidiaries for, or offer to any such individual,
      competitive employment and (c) Executive agrees not to interfere with the
      business of the Company in any manner including, without limitation, inducing
      any consultant or independent contractor or customer or client of the Company
      to
      sever or diminish that person’s or entity’s relationship with the
      Company.  For a period of 24 months immediately following Executive's
      employment termination (voluntary or otherwise), Executive agrees and represents
      that Executive shall not make any statement disparaging the Company, Company
      personnel and directors, or any product or service offered by the Company or
      any
      affiliate.

     

    14.  Arbitration.

     

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    (a)  In
      the
      event of any dispute between the parties concerning the validity,
      interpretation, enforcement or breach of this Agreement or in any way related
      to
      Executive’s Employee’s employment or any termination of such employment
      (including any claims involving any officers, managers, directors, employees,
      shareholders or agents of the Company) excepting only any rights the parties
      may
      have to seek injunctive relief, the dispute shall be resolved by final and
      binding arbitration administered by JAMS in Washington D.C. in accordance with
      the then existing JAMS Arbitration Rules and Procedures for Employment
      Disputes.  Resolution by arbitration, either in lieu of or after
      exhausting the procedures of Section 7 of the Severance Plan, shall be at the
      election of Executive with respect to any claim to which Section 7 of the
      Severance Plan shall apply.  In the event of such an arbitration
      proceeding, the parties shall select a mutually acceptable neutral arbitrator
      from among the JAMS panel of arbitrators.  In the event the parties
      cannot agree on an arbitrator, the Administrator of JAMS shall appoint an
      arbitrator.  Neither party nor the arbitrator shall disclose the
      existence, content, or results of any arbitration hereunder without the prior
      written consent of all parties, except as may be compelled by court
      order.  Except as provided herein, the Federal Arbitration Act shall
      govern the interpretation and enforcement of such arbitration and all
      proceedings.  The arbitrator shall apply the substantive law (and the
      law of remedies, if applicable) of the Commonwealth of Virginia, or Federal
      law,
      or both, as applicable and the arbitrator is without jurisdiction to apply
      any
      different substantive law.  The arbitrator shall have the authority to
      entertain a motion to dismiss and/or a motion for summary judgment by any party
      and shall apply the standards governing such motions under the Federal Rules
      of
      Civil Procedure.  The arbitrator shall render an award and a written,
      reasoned opinion in support thereof.  Judgment upon the award may be
      entered in any court having jurisdiction thereof.  The parties intend
      this arbitration provision to be valid, enforceable, irrevocable and construed
      as broadly as possible.  Pending the resolution of any dispute between
      the parties, the Company shall continue prompt payment of all amounts due to
      Executive under this Agreement and prompt provision of all benefits to which
      Executive is otherwise entitled.

     

    (b)  Costs
      of
      arbitration shall be borne by the Company.  Reasonable attorney fees
      and costs and the reasonable fees and costs of any experts incurred by Executive
      shall be borne and paid by the Company to the extent that Executive prevails
      on
      his claims.  Such fees and costs incurred by Executive shall be paid
      by the Company in advance of the final disposition of such claims, as such
      fees
      are incurred, upon receipt of an undertaking by Executive to repay such amounts
      to which it is determined that Executive is not entitled to retain because
      Executive was not determined to be in accordance with the Bylaws of the Company
      or applicable law.

     

    (c)  Notwithstanding
      the foregoing provisions of this Section 14, Executive and the Company
      agree that Executive or the Company may seek and obtain otherwise available
      injunctive relief in Court for any violation of obligations concerning
      confidential information or trade secrets that cannot adequately be remedied
      at
      law or in arbitration.

     

    (d)  If
      the
      Company terminates Executive’s employment hereunder or Executive terminates his
      employment alleging that such termination is for Good Reason, and if there
      is a
      dispute as to whether Executive is entitled to receive any payments and benefits
      provided under this Agreement, including the severance and other benefits set
      forth in Section 6(d)(1), during the period of the dispute the Company
      shall continue to pay Executive his Base Salary and continue to provide
      Executive and his family with the benefits provided in Section 3, provided,
      however, that if the dispute is resolved against Executive, Executive agrees
      that he will promptly refund to the Company all payments he receives hereunder
      which he would not otherwise have been entitled to receive, plus interest at
      the
      rate provided in Section 1274(d) of the Code, compounded
      quarterly.  If the dispute is resolved in Executive’s favor, promptly
      after resolution of the dispute the Company shall pay Executive any amount
      that
      was withheld or not timely paid during the period of the dispute plus interest
      at the rate provided in Section 1274(d) of the Code, compounded
      quarterly.

     

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    15.  Notices.  For
      purposes of this Agreement, notices and all other communications provided for
      in
      the Agreement shall be in writing and shall be deemed to have been duly given
      when delivered or mailed by United States registered mail, return receipt
      requested, postage prepaid, or delivered by private courier, as
      follows:  if to the Company -- Computer Sciences Corporation, 2100
      East Grand Avenue, El Segundo, California 90245 Attention: General Counsel;
      and
      if to Executive to the address of the Executive as it appears in the records
      of
      the Company.  Notice may also be given at such other address as either
      party may have furnished to the other in writing in accordance herewith, except
      that notices of change of address shall be effective only upon
      receipt.

     

    16.  Miscellaneous.
      This Agreement shall also be subject to the following miscellaneous
      provisions:

     

    (a)  The
      Company represents and warrants to Executive that it has the authorization,
      power and right to deliver, execute and fully perform its obligations under
      this
      Agreement in accordance with its terms.

     

    (b)  This
      Agreement and the Severance Plan contain a complete statement of all the
      agreements between the parties with respect to Executive’s employment by the
      Company, supersede all prior and existing negotiations and agreements between
      them concerning the subject matter thereof and can only be changed or modified
      pursuant to a written instrument duly executed by each of the parties hereto
      and
      stating an intention to change or modify this Agreement or the Severance Plan,
      as the case may be.  No waiver by either party of any breach by the
      other party of any condition or provision contained in this Agreement or the
      Severance Plan to be performed by such other party shall be deemed a waiver
      of a
      similar or dissimilar condition or provision at the same or any prior or
      subsequent time.  Any waiver must be in writing and signed by
      Executive or an authorized officer of the Company, as the case may
      be.

     

    (c)  The
      provisions of this Agreement are severable and in the event that a court of
      competent jurisdiction determines that any provision of this Agreement is in
      violation of any law or public policy, in whole or in part, only the portions
      of
      this Agreement that violate such law or public policy shall be
      stricken.  All portions of this Agreement that do not violate any
      statute or public policy shall not be affected thereby and shall continue in
      full force and effect.  Moreover, if any of the provisions contained
      in this Agreement is determined by a court of competent jurisdiction to be
      excessively broad as to duration, activity, geographic application or subject,
      it shall be construed, by limiting or reducing it to the extent legally
      permitted, so as to be enforceable to the extent compatible with then applicable
      law.

     

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

    (d)  This
      Agreement shall be governed by and construed in accordance with the internal
      laws of the Commonwealth of Virginia except to the extent governed by Federal
      law, and shall be construed according to its fair meaning and not for or against
      any party.  Any dispute between the parties hereto arising out of or
      related to this Agreement not resolved pursuant to Section 14 will be heard
      and determined before an appropriate federal court located in the Eastern
      District of Virginia, or, if not maintainable therein, then in a state court
      in
      the location of Executive's current or most recent primary residence in the
      Commonwealth of Virginia (determined at the time of any future dispute) and
      each
      party hereto submits itself and its property to the non-exclusive jurisdiction
      of the foregoing courts with respect to such disputes.

     

    (e)  All
      compensation payable hereunder shall be subject to such withholding taxes as
      may
      be required by law.

     

    (f)  This
      Agreement shall be binding upon and inure to the benefit of the successors
      and
      assigns, of the Company.  No rights or obligations of the Company
      under this Agreement may be assigned or transferred by the Company except that
      such rights or obligations may be assigned or transferred pursuant to a merger
      or consolidation in which the Company is not the continuing entity, or the
      sale
      or liquidation of all or substantially all of the assets of the Company,
      provided that the assignee or transferee is the successor to all or
      substantially all of the assets of the Company and such assignee or transferee
      assumes the liabilities, obligations and duties of the Company, as contained
      in
      this Agreement, either contractually or as a matter of law.  The
      Company further agrees that, in the event of a sale of assets or liquidation
      as
      described in the preceding sentence, it shall take commercially reasonable
      action in order to cause such assignee or transferee to expressly assume the
      liabilities, obligations and duties of the Company hereunder.  Except
      as expressly provided herein, Executive may not sell, transfer, assign, or
      pledge any of his rights or obligations pursuant to this Agreement.

     

    (g)  The
      rights of Executive hereunder shall be in addition to any rights Executive
      may
      otherwise have under any Company sponsored stock incentive plans or any grants
      or award agreements issued thereunder.  The provisions of this
      Agreement shall not in any way abrogate Executive’s rights under such stock
      incentive plans and underlying grants or award agreements.

     

    (h)  The
      respective rights and obligations of the parties hereunder shall survive any
      termination of Executive’s employment to the extent necessary to the intended
      preservation of such rights and obligations.

     

    (i)  The
      headings of the sections contained in this Agreement are for convenience only
      and shall not be deemed to control or affect the meaning or construction of
      any
      provision of this Agreement.

     

    (j)  Each
      of
      the parties agrees to execute, acknowledge, deliver and perform, and cause
      to be
      executed, acknowledged, delivered and performed, at any time and from time
      to
      time, as the case may be, all such further acts, deeds, assignments, transfers,
      conveyances, powers of attorney and assurances as may be reasonably necessary
      to
      carry out the provisions or intent of this Agreement.

     

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    (k)  This
      Agreement may be executed in two or more counterparts each of which shall be
      legally binding and enforceable.

     

    

     

    IN
      WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
      day
      and year first above written.

     

    
      	
              MICHAEL
                W. LAPHEN

               

               /s/Michael
                W.
                Laphen                                            

               

            	
              COMPUTER
                SCIENCES CORPORATION

               

              By:  
                /s/Hayward D.
                Fisk                                                         

              Name:    Hayward
                D. Fisk

              Its:         Vice
                President, General Counsel and
                Secretary

            

    

    

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

     

    RELEASE
      OF CLAIMS

     

    

     

    Executive
      hereby irrevocably, fully and
      finally releases Computer Sciences Corporation, a Nevada corporation (the
      "Company"), its parent, subsidiaries, affiliates, directors, officers, agents
      and employees (“Releasees”) from all causes of action, claims, suits, demands or
      other obligations or liabilities, whether known or unknown, suspected or
      unsuspected, that Executive ever had or now has as of the time that Executive
      signs this release which relate to his hiring, his employment with the Company,
      the termination of his employment with the Company and claims asserted in
      shareholder derivative actions or shareholder class actions against the Company
      and its officers and Board, to the extent those derivative or class actions
      relate to the period during which Executive was employed by the
      Company.  The claims released include, but are not limited to, any
      claims arising from or related to Executive’s employment with the Company, such
      as claims arising under (as amended) Title VII of the Civil Rights Act of 1964,
      the Civil Rights Act of 1991, the Age Discrimination in Employment Act of 1974,
      the Americans with Disabilities Act, the Equal Pay Act, the Fair Labor Standards
      Act, the California Fair Employment and Housing Act, the California Labor Code,
      the Employee Retirement Income and Security Act of 1974 (except for any vested
      right Executive has to benefits under an ERISA plan), the state and federal
      Worker Adjustment and Retraining Notification Act, and the California Business
      and Professions Code; any other local, state, federal, or foreign law governing
      employment; and the common law of contract and tort.  In no event,
      however, shall any claims, causes of action, suits, demands or other obligations
      or liabilities be released pursuant to the foregoing if and to the extent they
      relate to:

     

    (i)  any
      amounts or benefits to which Executive is or becomes entitled to pursuant to
      the
      provisions of his Management Agreement with the Company dated as
      of September 10, 2007 (the "Agreement");

     

    (ii)  claims
      for workers’ compensation benefits under any of the Company’s workers’
compensation insurance policies or funds;

     

    (iii)  claims
      related to Executive’s COBRA rights; and

     

    (iv)  claims
      for indemnification to which Executive is or may become entitled, including but
      not limited to claims submitted to an insurance company providing the Company
      with directors and officers liability insurance.

     

               Executive
      represents and warrants that he has not filed any claim, charge or complaint
      against any of the Releasees.

     

               Executive
      intends that this release of claims cover all claims, whether or not known
      to
      Executive.  Executive further recognizes the risk that, subsequent to
      the execution of this release, Executive may incur loss, damage or injury which
      Executive attributes to the claims encompassed by this release. Executive
      expressly assumes this risk by signing this release and voluntarily and
      specifically waives any rights conferred by California Civil Code section 1542
      which provides as follows:

     

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

     

    A
      general
      release does not extend to claims which the creditor does not know or suspect
      to
      exist in his or her favor which if known by him or her must have materially
      affected his or her settlement with the debtor.

     

    Executive
      also hereby waives any rights
      under the laws of the Commonwealth of Virginia or any other jurisdiction which
      Executive may otherwise possess that are comparable to those set forth under
      California Civil Code section 1542.

    

               Executive
      represents and warrants that there has been no assignment or other transfer
      of
      any interest in any claim by Executive that is covered by this
      release.

     

    Executive
      acknowledges that he has been
      given at least 21 days in which to review and consider this release, although
      Executive is free to execute this release at any time within that 21-day period.
      Executive acknowledges that he has been advised to consult with an attorney
      about this release.  Executive also acknowledges his understanding
      that if Executive signs this release, Executive will have an additional 7 days
      from the date that Executive signs this release to revoke that acceptance,
      which
      Executive may effect by means of a written notice sent to the General Counsel
      of
      the Company at the Company’s corporate headquarters. If this 7-day period
      expires without a timely revocation, Executive acknowledges and agrees that
      this
      release will become final and effective on the eighth day following the date
      of
      Executive’s signature, which eighth day will be the effective date of this
      release.

     

    Executive
      acknowledges and agrees that
      his execution of this release is supported by independent and adequate
      consideration in the form of payments and/or benefits from the Company to which
      Executive would not have become entitled if he had not signed this
      release.

     

    IN
      WITNESS WHEREOF, Executive has duly executed this release as of the day and
      year
      set forth below.

     

    

    
      	
                                                          MICHAEL
                W. LAPHEN

            
	
               

               

                                                           ___________________________________

               

                                                           ___________________________________

                                                           Date

            

    

    

    
      
        
        

      

      
        18EXHIBIT 4.1 - FIFTH SUPPLEMENTAL INDENTURE

     

    Exhibit
      4.1

    
 

     

    

     

     

    __________________________________________

     

     

    FIFTH
      SUPPLEMENTAL INDENTURE

     

     

    Dated
      as
      of September 11, 2007

     

    ___________________________________________

     

    between

     

    LOWE’S
      COMPANIES, INC.

     

    and

     

     

    THE
      BANK OF
      NEW YORK TRUST COMPANY, N.A.

     

     

    as
      Trustee

     

     

    ___________________________________________

     

    Supplemental
      to the Amended and Restated Indenture

     

     

    Dated
      as
      of December 1, 1995

     

     

    ___________________________________________

     

     

    Creating
      a Series of Securities designated

     

     

    5.60%
      Notes due 2012,

     

     

    Creating
      a Series of Securities designated

     

     

    6.10%
      Notes due 2017,

     

     

    and

     

     

    Creating
      a Series of Securities designated

     

     

    6.65%
      Notes due 2037

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    FIFTH
      SUPPLEMENTAL INDENTURE, dated as of September 11, 2007 (this “Fifth
      Supplemental Indenture”),
      between Lowe’s
      Companies, Inc.,
      a
      corporation duly organized and existing under the laws of the State of North
      Carolina (the “Company”),
      having its principal office at 1000 Lowe’s Boulevard, Mooresville, North
      Carolina 28117, and The
      Bank
      of New York Trust Company, N.A.,
      a
      national banking association duly organized and existing under the laws of
      the
      United States, as Trustee (the “Trustee”
or
      the
“Successor
      Trustee”)
      as
      successor trustee to J.P. Morgan Trust Company, National Association (the
“Resigning
      Trustee”),
      pursuant to that certain Instrument of Resignation, Appointment and Acceptance,
      dated as of April 21, 2004, (the “Resignation
      Instrument”).

     

    W
      I T N E S S E T H :

    

    WHEREAS,
      the Company has heretofore executed and delivered to the Resigning Trustee
      an
      Amended and Restated Indenture, dated as of December 1, 1995 (the “Base
      Indenture”)
      as
      supplemented and amended by this Fifth Supplemental Indenture (together with
      the
      Base Indenture, the “Indenture”),
      providing for the issuance from time to time of its unsecured unsubordinated
      debentures, notes or other evidences of indebtedness (the “Securities”),
      to be
      issued in one or more series as provided in the Base Indenture; 

     

    WHEREAS,
      pursuant to the Resignation Instrument and the applicable provisions of the
      Base
      Indenture, the Resigning Trustee assigned, transferred, delivered and confirmed
      to the Successor Trustee all right, title and interest of the Resigning Trustee
      under the Indenture, with like effect as if the Successor Trustee was originally
      named as trustee under the Indenture, and the Company accepted the resignation
      of the Resigning Trustee as trustee, Paying Agent, Security Registrar,
      Conversion Agent and Agent under the Indenture and duly appointed the Successor
      Trustee as trustee, Paying Agent, Security Registrar, Conversion Agent and
      Agent
      under the Indenture and confirmed to the Successor Trustee all the rights,
      powers and trusts of the Resigning Trustee under the Base
      Indenture;

     

    WHEREAS,
      it is provided in Section 901 of the Base Indenture that, without the consent
      of
      any Holders, the Company, when authorized by a Board Resolution, and the Trustee
      may enter into indentures supplemental thereto (1) to add to, change or
      eliminate any of the provisions of the Indenture in respect of one or more
      series of Securities, provided
      that any
      such addition, change or elimination (i) shall neither (A) apply to any Security
      of any series created prior to the execution of such supplemental indenture
      and
      entitled to the benefit of such provision nor (B) modify the rights of the
      Holder of any such Security with respect to such provision or (ii) shall become
      effective only when there is no such Security Outstanding, (2) to add to the
      covenants of the Company for the benefit of the Holders of all or any series
      of
      Securities (and if such covenants are to be for the benefit of less than all
      series of Securities, stating that such covenants are expressly being included
      solely for the benefit of such series) and (3) to establish the form or terms
      of
      Securities of any series as permitted by Sections 201 and 301 of the Base
      Indenture;

     

    WHEREAS,
      the Company, in the exercise of the power and authority conferred upon and
      reserved to it under the provisions of the Indenture and pursuant to appropriate
      Board Resolutions and actions of its authorized officers, has duly determined
      to
      make, execute and deliver to the Trustee this Fifth Supplemental Indenture
      in
      order to establish the form and terms 

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    of,
      and
      to provide for the creation and issuance of, three new series of Securities
      designated as its (i) 5.60% Notes due September 15, 2012 (the “2012
      Notes”),
      in an
      aggregate Principal Amount at Maturity of $550,000,000, (ii) 6.10% Notes due
      September 15, 2017 (the “2017
      Notes”),
      in an
      aggregate Principal amount at Maturity of $250,000,000 and (iii) 6.65% Notes
      due
      September 15, 2037 (the “2037
      Notes”
and,
      together with the 2012 Notes and the 2017 Notes, the “Notes”)
      in an
      aggregate Principal Amount at Maturity of $500,000,000; and

     

    WHEREAS,
      all things necessary to make the Notes, when executed by the Company and
      authenticated and delivered by the Trustee or any Authenticating Agent (as
      defined in the Indenture) and issued upon the terms and subject to the
      conditions of the Indenture against payment therefor, the valid, binding and
      legal obligations of the Company and to make this Fifth Supplemental Indenture
      a
      valid and legally binding supplement to the Indenture.

     

    NOW,
      THEREFORE, in order to establish the form and terms of the series of the 2012
      Notes, the series of the 2017 Notes and the series of the 2037 Notes and for
      and
      in consideration of the premises and of the covenants contained in the Indenture
      and for other good and valuable consideration the receipt and sufficiency of
      which are hereby acknowledged, it is mutually covenanted and agreed, for the
      equal and proportionate benefit of all Holders, as follows:

     

    ARTICLE
      I  

     

    DEFINITIONS
      AND OTHER PROVISIONS OF GENERAL APPLICATION

     

    Section
      101.  Definitions    
      For
      all
      purposes of the Base Indenture and this Fifth Supplemental Indenture relating
      to
      the respective series of Notes created hereby, except as otherwise expressly
      provided or unless the context otherwise requires, the terms used in this Fifth
      Supplemental Indenture have the meanings assigned to them in this Article.
      Each
      capitalized term that is used in this Fifth Supplemental Indenture but not
      defined herein shall have the meaning specified in the Base
      Indenture.

     

    “Business
      Day”
means
      any day other than a Saturday or Sunday or a day on which banking institutions
      or trust companies in New York City are authorized or required by law,
      regulation or executive order to close.

     

    “Change
      of Control”
means
      the occurrence of any of the following: (a) the consummation of any transaction
      (including, without limitation, any merger or consolidation) resulting in any
      “person” (as that term is used in Section 13(d)(3) of the Securities and
      Exchange Act of 1934)(other than the Company or one of its subsidiaries)
      becoming the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the
      Securities and Exchange Act of 1934), directly or indirectly, of more than
      50%
      of the Voting Stock of the Company or other voting stock into which Voting
      Stock
      of the Company is reclassified, consolidated, exchanged or changed, measured
      by
      voting power rather than number of shares; (b) the direct or indirect sale,
      transfer, conveyance or other disposition (other than by way of merger or
      consolidation), in a transaction or a series of related transactions, of all
      or
      substantially all of the assets of the Company and the assets of its
      subsidiaries, taken as a whole, to one or more “persons” (as that term is
      defined in the Indenture)(other than the Company or one of its subsidiaries);
      or
      (c) the first day on which a 

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

     

    majority
      of the members of the Board of Directors of the Company are not Continuing
      Directors. Notwithstanding the foregoing, a transaction shall not be considered
      a Change of Control if (a) the Company becomes a direct or indirect wholly-owned
      subsidiary of a holding company and (b)(y) immediately following that
      transaction, the direct or indirect holders of the voting stock of the holding
      company are substantially the same as the holders of voting stock of the Company
      immediately prior to that transaction or (z) immediately following that
      transaction no person is the beneficial owner, directly or indirectly, of more
      than 50% of the voting stock of the holding company.

     

    “Change
      of Control Triggering Event”
means
      the occurrence of both a Change of Control and a Rating Event.

     

    “Comparable
      Treasury Issue”
means
      the United States Treasury security selected by the Quotation Agent as having
      a
      maturity comparable to the remaining term of the notes to be redeemed that
      would
      be utilized, at the time of selection and in accordance with customary financial
      practice, in pricing new issues of corporate debt securities of comparable
      maturity to the remaining term of such notes.

     

    “Comparable
      Treasury Price”
means,
      with respect to any redemption date, (i) the average of four Reference Treasury
      Dealer Quotations for such redemption date, after excluding the highest and
      lowest such Reference Treasury Dealer Quotations, or (ii) if the Trustee obtains
      fewer than four such Reference Treasury Dealer Quotations, the average of all
      such quotations, or (iii) if only one Reference Treasury Dealer Quotation is
      received, such quotation.

     

    “Continuing
      Directors”
means,
      as of any date of determination, any member of our Board of Directors who (a)
      was a member of the Board of Directors on the date the Notes were issued or
      (b)
      was nominated for election, elected or appointed to the Board of Directors
      with
      the approval of a majority of the continuing directors who were members of
      the
      Board of Directors at the time of such nomination, election or appointment
      (either by a specific vote or by approval of the proxy statement of the Company
      in which such member was named as a nominee for election as a director, without
      objection to such nomination).

     

    “Depositary”
means,
      with respect to the Notes issuable in whole or in part in global form, DTC
      and
      any nominee thereof, until a successor is appointed and becomes such pursuant
      to
      the applicable provisions of the Indenture, and thereafter “Depositary”
shall
      mean or include such successor and any nominee thereof.

     

    “DTC”
means
      The Depository Trust Company.

     

    “Fitch”
means
      Fitch Ratings.

     

    “Global
      Note”
means
      a
      Note issued in global form and deposited with or on behalf of the Depositary,
      substantially in the form of the Note attached hereto as Exhibit A-1, Exhibit
      A-2 or Exhibit A-3.

     

    “Interest
      Payment Date”
has
      the
      meaning set forth in Section 204(a) of this Fifth Supplemental
      Indenture.

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

     

    “Investment
      Grade Rating”
means
      a
      rating equal to or higher than BBB- (or the equivalent) by Fitch, Baa3 (or
      the
      equivalent) by Moody’s and BBB- (or the equivalent) by S&P, and the
      equivalent investment grade credit rating from any replacement rating agency
      or
      rating agencies selected by the Company.

     

    “Moody’s”
means
      Moody’s Investors Service, Inc.

     

    “Principal
      Amount at Maturity”
of
      the
      Notes means the principal amount at maturity as set forth on the face of each
      respective Note.

     

    “Quotation
      Agent”
means
      the Reference Treasury Dealer appointed by the Company.

     

    “Rating
      Agencies”
means
      (a) each of Fitch, Moody’s and S&P; and (b) if any of Fitch, Moody’s or
      S&P ceases to rate the Notes or fails to make a rating of the Notes publicly
      available for reasons outside of the control of the Company, a “nationally
      recognized statistical rating organization” (within the meaning of Rule
      15c3-1(c)(2)(vi)(F) under the Securities Exchange Act of 1934) selected by
      the
      Company as a replacement rating agency for a former rating agency.

     

    “Rating
      Event”
means
      the rating on the Notes is lowered by each of the Rating Agencies and the Notes
      are rated below an Investment Grate Rating by each of the Rating Agencies on
      any
      day within the 60-day period (which 60-day period shall be extended so long
      as
      the rating of the Notes is under publicly announced consideration for a possible
      downgrade by any of the Rating Agencies) after the earlier of (a) the occurrence
      of a Change of Control and (b) public notice of the particular Change of Control
      or the Company’s intention to effect a Change of Control; provided that a Rating
      Event will not be deemed to have occurred in respect of a particular Change
      of
      Control (and thus shall not be deemed a Rating Event for purposes of the
      definition of Change of Control Triggering Event) if each Rating Agency making
      the reduction in rating does not publicly announce or confirm or inform the
      Trustee in writing at the request of the Company that the reduction was the
      result, in whole or in part, of any event or circumstance comprised of or
      arising as a result of, or in respect of, the Change of Control (whether or
      not
      the applicable Change of Control has occurred at the time of the Rating
      Event).

     

    “Reference
      Treasury Dealer”
means
      (i) Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan
      Securities Inc. (or their respective affiliates that are Primary Treasury
      Dealers) and their respective successors; provided, however, that if any of
      the
      foregoing shall cease to be a primary U.S. Government securities dealer in
      New
      York City (a “Primary
      Treasury Dealer”),
      we
      will substitute therefor another Primary Treasury Dealer, and (ii) any other
      Primary Treasury Dealer selected by us.

     

    “Reference
      Treasury Dealer Quotations”
means,
      with respect to such Reference Treasury Dealer and any redemption date, the
      average of the bid and asked prices for the Comparable Treasury Issue (expressed
      in each case as a percentage of its principal amount) quoted in writing to
      the
      Trustee by such Reference Treasury Dealer at 5:00 p.m., New York City time,
      on
      the third Business Day preceding such redemption date.

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

     

    “Regular
      Record Date”
has
      the
      meaning set forth in Section 204(a) of this Fifth Supplemental
      Indenture.

     

    “S&P”
means
      Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies,
      Inc.

     

    “Stated
      Maturity”
has
      the
      meaning set forth in Section 203 of this Fifth Supplemental
      Indenture.

     

    “Treasury
      Rate”
means,
      with respect to any redemption date, the rate per annum equal to the semi-annual
      equivalent yield to maturity of the Comparable Treasury Issue, assuming a price
      for the Comparable Treasury Issue (expressed as a percentage of its principal
      amount) equal to the Comparable Treasury Price of such redemption
      date.

     

    “Underwriting
      Agreement”
means
      the Underwriting Agreement, dated September 11, 2007, among the Company and
      J.P.
      Morgan Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated,
      and Wachovia Capital Markets.

     

    “Voting
      Stock”
means,
      with respect to any specified person (as that term is used in Section 13(d)(3)
      of the Securities Exchange Act of 1934) as of any date, the capital stock of
      such person that is at the time entitled to vote generally in the election
      of
      the board of directors of such person.

     

    Section
      102.  Section
      References      Each
      reference to a particular section set forth in this Fifth Supplemental Indenture
      shall, unless the context otherwise requires, refer to this Fifth Supplemental
      Indenture. Each reference to a particular section of the Base Indenture shall
      refer to that particular section of the Base Indenture. 

     

    ARTICLE
      II 

     

    THE
      NOTES

     

    Section
      201.  Title
      of the Notes      The
      Company hereby creates the 2012 Notes, the 2017 Notes and the 2037 Notes, each
      as a separate series of its Securities issued pursuant to the Indenture. The
      2012 Notes shall be designated as the “5.60% Notes due 2012,” the 2017 Notes
      shall be designated as the “6.10% Notes due 2017” and the 2037 Notes shall be
      designated as the “6.65% Notes due 2037.”

     

    Section
      202.  Amount    
      The
      aggregate Principal Amount at Maturity of the 2012 Notes that may be
      authenticated and delivered under this Fifth Supplemental Indenture is limited
      to $550,000,000, the aggregate Principal Amount at Maturity of the 2017 Notes
      that may be authenticated and delivered under this Fifth Supplemental Indenture
      is limited to $250,000,000 and the aggregate Principal Amount at Maturity of
      the
      2037 Notes that may be authenticated and delivered under this Fifth Supplemental
      Indenture is limited to $500,000,000.

     

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

     

    Section
      203.  Stated
      Maturity     The
      Stated Maturity of the 2012 Notes shall be September 15, 2012, the Stated
      Maturity of the 2017 Notes shall be September 15, 2017, and the Stated Maturity
      of the 2037 Notes shall be September 15, 2037.

     

    Section
      204.  Interest
      and Payment  The
      2012
      Notes shall bear interest at 5.60% per annum, the 2017 Notes shall bear interest
      at 6.10% per annum, and the 2037 Notes shall bear interest at 6.65% per annum
      beginning on the date of issuance until the Notes, respectively, are redeemed,
      paid or duly provided for. Interest shall be paid semi-annually in arrears
      on
      each March 15 and September 15 (each, an “Interest
      Payment Date”),
      commencing on March 15, 2008, to persons in whose names the Notes are registered
      at the close of the Business Day on the March 1 immediately preceding each
      March
      15 or the September 1 immediately preceding each September 15 (each a
“Regular
      Record Date”).

     

    (b)  Payments
      of interest on the Notes shall include interest accrued to but excluding the
      respective Interest Payment Dates. Interest payments for the Notes shall be
      computed on the basis of a 360-day year composed of twelve 30-day months.
      Payments of principal and interest to owners of book-entry interests shall
      be
      made to holders of the Notes on the respective Regular Record Date in accordance
      with the procedures of DTC and its participants in effect from time to time.
      Settlement for the Notes shall be made in immediately available funds. All
      payments of principal and interest shall be made by the Company in immediately
      available funds except as set forth in the applicable Note.

     

    Section
      205.  Optional
      Redemption  The
      2012
      Notes, the 2017 Notes and/or the 2037 Notes, as the case may be, will be
      redeemable, in whole at any time or in part from time to time, at the Company’s
      option at a redemption price equal to the greater of:

     

    (i)  100%
      of
      the principal amount of the 2012 Notes, the 2017 Notes and/or the 2037 Notes
      to
      be redeemed; or

     

    (ii)  the
      sum
      of the present values of the remaining scheduled payments of principal and
      interest thereon (not including any portion of such payments of interest accrued
      as of the date of redemption), discounted to the date of redemption on a
      semi-annual basis (assuming a 360-day year consisting of twelve 30-day months)
      at the Treasury Rate, plus 20 basis points with respect to the 2012 Notes,
      25
      basis points with respect to the 2017 Notes, and 30 basis points with respect
      to
      the 2037 Notes,

     

    plus,
      in
      each case, accrued interest thereon to but excluding the date of redemption.
      Notwithstanding the foregoing, installments of interest on Notes that are due
      and payable on Interest Payment Dates falling on or prior to a redemption date
      will be payable on the Interest Payment Date to the registered holders as of
      the
      close of the Business Day on the relevant record date.

     

    (b)  Notice
      of
      any redemption will be mailed at least 30 days but not more than 60 days before
      the Redemption Date set forth in such notice to each registered holder of the
      2012 Notes, the 2017 Notes and/or the 2037 Notes, as the case may be, to be
      redeemed. Unless the Company defaults in payment of the redemption price, on
      and
      after the applicable Redemption Date, interest will cease to accrue on the
      Notes
      or portions thereof called for redemption. If less than 

     

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

     

    all
      of
      the Notes are to be redeemed, the Notes to be redeemed shall be selected by
      the
      Trustee by a method the Trustee deems to be fair and appropriate.

     

    Section
      206.  Change
      of Control Offer to Purchase 

     

    (a)
      If a
      Change of Control Triggering Event occurs, holders of Notes may require the
      Company to repurchase all of any part (equal to $1,000 or an integral multiple
      of $1,000 in excess thereof) of their Notes at a purchase price of 101% of
      the
      principal amount, plus accrued and unpaid interest, if any, on such Notes to
      the
      date of purchase (unless a notice of redemption has been mailed within 30 days
      after such Change of Control Triggering Event stating that all of the Notes
      will
      be redeemed as described in this Section 206). The Company shall be required
      to
      mail to holders of the Notes a notice describing the transaction or transactions
      constituting the Change of Control Triggering Event and offering to repurchase
      the Notes. The notice must be mailed within 30 days after any Change of Control
      Triggering Event, and the repurchase must occur no earlier than 30 days and
      no
      later than 60 days after the date the notice is mailed.

     

    (b) On
      the
      date specified for repurchase of the Notes, the Company shall, to the extent
      lawful:

     

    (i)    
      accept
      for payment all properly tendered Notes or portions of Notes;

     

    (ii)   
      deposit
      with the paying agent the required payment for all properly tendered Notes
      or
      portions of Notes; and

     

    (iii)  
      deliver
      to the Trustee the repurchased Notes, accompanied by an Officers’ Certificate
      stating, among other things, the aggregate principal amount of repurchased
      Notes.

     

    (c)    
      The
      Company shall comply with the requirements of Rule 14e-1 under the Securities
      Exchange Act of 1934 and any other securities laws and regulations applicable
      to
      the repurchase of the Notes. To the extent that these requirements conflict
      with
      the provisions requiring repurchases of the Notes, the Company shall comply
      with
      such requirements instead of the repurchase provisions and shall not be
      considered to have breached its obligations with respect to repurchasing the
      Notes. Additionally, if an Event of Default exists under the Indenture (which
      is
      unrelated to the repurchase provisions of the Notes), including the events
      of
      default arising with respect to other issues of debt securities, the Company
      shall not be required to repurchase the Notes notwithstanding these repurchase
      provisions.

     

    (d)     
      The
      Company shall not be required to comply with the obligations of this Section
      206
      if a third party instead satisfies them.

     

    Section
      207.  Forms;
      Denominations     The
      Notes
      shall be Registered Securities and shall be issued in denominations of $1,000
      or
      any integral multiple thereof. The certificates for the Notes shall be in
      substantially the forms attached hereto as Exhibit A-1, Exhibit A-2 and Exhibit
      A-3.

     

    (a)  Global
      Notes.
      (i)
      Notes
      shall be issued initially in the form of one or more Global Notes in definitive
      fully registered form without interest coupons, deposited on behalf of the
      

     

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

     

    subscribers
      for the Notes represented thereby with The Bank of New York Trust Company,
      N.A.,
      at its Corporate Trust Office, as custodian for the Depositary and registered
      in
      the name of DTC or a nominee thereof, duly executed by the Company and
      authenticated by the Trustee as provided in the Indenture. The aggregate
      Principal Amount at Maturity of the Global Notes may from time to time be
      increased or decreased by adjustments made on the records of the Trustee and
      the
      Depositary as hereinafter provided.

     

    (ii)  Book-Entry
      Provisions. The Company shall execute and the Trustee shall, in accordance
      with
      this Section 207(a)(ii) and Section 303 of the Base Indenture, authenticate
      and
      deliver initially one or more Global Notes that (a) shall be registered in
      the
      name of the Depositary, (b) shall be delivered by the Trustee to the Depositary
      or pursuant to the Depositary’s instructions and (c) shall bear legends
      substantially to the following effect:

     

    “UNLESS
      THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
      TRUST COMPANY (“DTC”) TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
      EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF
      CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
      REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR SUCH
      OTHER ENTITY AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
      PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
      WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
      HEREIN.”

     

    Section
      208.  Applicability
      of Reports by Company     For
      purposes of this Fifth Supplemental Indenture, to the extent information,
      documents or reports are required to be filed with the Commission and delivered
      to the Trustee or the Holders, the availability of such information, documents
      or reports on the Commission’s Electronic Data Gathering Analysis and Retrieval
      (“EDGAR”)
      system
      or the Company’s website shall be deemed to have satisfied such delivery
      requirements to the Trustee or the Holders, as applicable.

     

    Section
      209.  Applicability
      of Sinking Funds     The
      provisions of Article Twelve of the Base Indenture shall not apply to the 2012
      Notes, the 2017 Notes or the 2037 Notes.

     

    Section
      210.  Applicability
      of Repayment of Securities at Option of Holders    
The
      provisions of Article Thirteen of the Base Indenture shall not apply to the
      2012
      Notes, the 2017 Notes or the 2037 Notes.

     

    Section
      211.  Applicability
      of Conversion of Securities     The
      provisions of Article Fourteen of the Base Indenture shall not apply to the
      2012
      Notes, the 2017 Notes or the 2037 

     

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    Notes.

     

     

    ARTICLE
      III  

     

    MISCELLANEOUS
      PROVISIONS

     

    Section
      301.  Concerning
      the Indenture     Except
      as
      expressly amended hereby, the Base Indenture shall continue in full force and
      effect in accordance with the provisions thereof and the Base Indenture is
      in
      all respects hereby ratified and confirmed. This Fifth Supplemental Indenture
      and all its provisions shall be deemed a part of the Base Indenture in the
      manner and to the extent herein and therein provided.

     

    Section
      302.  Severability    
      If
      any
      provision in this Fifth Supplemental Indenture shall be invalid, illegal or
      unenforceable, the validity, legality and enforceability of the remaining
      provisions shall not in any way be affected or impaired thereby.

     

    Section
      303.  Trust
      Indenture Act     If
      any
      provision in this Fifth Supplemental Indenture limits, qualifies or conflicts
      with any other provision hereof or of the Base Indenture which provision is
      required to be included in the Base Indenture by any of the provisions of the
      Trust Indenture Act, such required provision shall control.

     

    Section
      304.  Trustee    
      The
      recitals and statements herein are deemed to be those of the Company and not
      of
      the Trustee. The Trustee makes no representations as to the validity or
      sufficiency of this Fifth Supplemental Indenture.

     

    Section
      305.  Governing
      Law     This
      Fifth Supplemental Indenture shall be governed by, and construed in accordance
      with, the laws of the State of New York.

     

    Section
      306.  Multiple
      Originals     
      This Fifth Supplemental Indenture may be executed in any number of counterparts,
      each of which so executed shall be deemed to be an original, but all such
      counterparts shall together constitute but one and the same
      instrument.

     

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the parties have caused this Fifth Supplemental Indenture
      to be
      duly executed.

     

    

     

    LOWE’S
      COMPANIES, INC.

    

    

    By: 
      /s/ Robert F. Hull ,
      Jr.                                            

    Name: 
      Robert Hull

    Title: 
      CFO

    

    

    

    THE
      BANK
      OF NEW YORK TRUST COMPANY, N.A., as Trustee

    

    

    By:  /s/
      Tina D.
      Gonzalez                                               

    Name:
      Tina D. Gonzalez

    Title:
      Assistant Vice President

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A-1

     

    FORM
      OF
      GLOBAL NOTE

     

    

     

    UNLESS
      THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
      TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO LOWE’S COMPANIES, INC. OR ITS
      AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
      ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER ENTITY OR IN
      SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND
      ANY
      PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED
      BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE
      HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS
      THE
      REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
      HEREIN.

     

    LOWE’S
      COMPANIES, INC.

     

    5.60%
      Notes due September 15, 2012

     

    GLOBAL
      SECURITY

     

    No.
      1                                                                                CUSIP
      No. 548661 CM7

     

    $550,000,000

    Original
      Principal Amount

     

    Lowe’s
      Companies, Inc., a corporation duly organized and existing under the laws of
      the
      State of North Carolina (herein called the “Company”, which term includes any
      successor Person under the Indenture hereinafter referred to), for value
      received, hereby promises to pay to Cede & Co. or its registered assigns,
      the principal sum of $550,000,000 on September 15, 2012, at the office or agency
      of the Company referred to below, in such coin or currency of the United States
      of America as at the time of payment is legal tender for the payment of public
      and private debts, and to pay interest thereon in like coin or currency from
      September 11, 2007, or from the most recent Interest Payment Date on which
      interest has been paid or duly provided for, semi-annually in arrears on March
      15 and September 15 in each year, commencing March 15, 2008, at the rate of
      5.60% per annum until the principal hereof is paid or made available for
      payment, and (to the extent lawful) to pay interest at the same rate per annum
      on any overdue principal and premium and on any overdue installments of interest
      until paid.

     

    The
      interest so payable, and punctually paid or duly provided for, on any Interest
      Payment Date, as provided in the Amended and Restated Indenture, dated as of
      December 1, 1995 (the “Base Indenture”) between the Company and The Bank of New
      York Trust Company, N.A., as trustee (the “Trustee”), as supplemented by the
      Fifth Supplemental Indenture dated as of September 11, 2007, between the Company
      and the Trustee (the “Fifth Supplemental Indenture” 

     

     

    
      
        
        

      

      
        A-1-1

        
          

        

      

      
        
        

      

    

     

     

    and,
      together with the Base Indenture, the “Indenture”) shall be paid to the Person
      in whose name this Note is registered at the close of business on the respective
      Regular Record Date for such interest, which shall be the March 1 or September
      1
      (whether or not a Business Day), as the case may be, next preceding such
      Interest Payment Date. Any such interest not so punctually paid or duly provided
      for will forthwith cease to be payable to the Person in whose name this Note
      is
      registered on such Regular Record Date and may either be paid to the Person
      in
      whose name this Note is registered at the close of business on a Special Record
      Date for the payment of such Defaulted Interest to be fixed in accordance with
      Section 307 of the Base Indenture by the Trustee, notice whereof shall be given
      to the Person in whose name this Note is registered not less than ten days
      prior
      to such Special Record Date, or be paid at any time in any other lawful manner,
      all as more fully provided in the Indenture.

     

    This
      Note
      is a “book-entry” note and is being registered in the name of Cede & Co. as
      nominee of The Depository Trust Company (“DTC”), a clearing agency. Subject to
      the terms of the Indenture, this Note will be held by a clearing agency or
      its
      nominee, and beneficial interests will be held by beneficial owners through
      the
      book-entry facilities of such clearing agency or its nominee in minimum
      denominations of $1,000 and increments of $1,000 in excess thereof.

     

    As
      long
      as this Note is registered in the name of DTC or its nominee, the Trustee will
      make payments of principal of and interest on this Note by wire transfer of
      immediately available funds to DTC or its nominee. Notwithstanding the above,
      the final payment on this Note will be made after due notice by the Trustee
      of
      the pendency of such payment and only upon presentation and surrender of this
      Note at its principal corporate trust office or such other office or agencies
      appointed by the Trustee for that purpose and such other locations provided
      in
      the Indenture.

     

    Payments
      of principal of (and premium, if any) and interest on this Note will be made
      at
      the office or agency of the Company maintained for that purpose in the Borough
      of Manhattan, The City of New York, in such coin or currency of the United
      States of America as at the time of payment is legal tender for payments of
      public and private debts; provided,
      however,
      that at
      the option of the Company, payment of interest may be made by check mailed
      to
      the address of the Person entitled thereto as such address shall appear in
      the
      Security Register.

     

    This
      Note
      is one of a duly authorized series of notes of the Company, designated 5.60%
      Notes due 2012 (the “Notes”), limited in aggregate principal amount at any time
      outstanding to FIVE HUNDRED FIFTY MILLION DOLLARS ($550,000,000) which may
      be
      issued under the Indenture. Reference is hereby made to the Indenture and all
      indentures supplemental thereto which are applicable to the Notes for a
      statement of the respective rights, limitations of rights, duties, obligations
      and immunities thereunder of the Company, the Trustee and the Holders of the
      Notes, and the terms upon which the Notes are, and are to be, authenticated
      and
      delivered. All terms used in this Note that are defined in the Indenture shall
      have the meanings assigned to them in the Indenture.

     

    The
      Notes
      do not have the benefit of any sinking fund obligations.

     

    The
      Notes
      will be redeemable, in whole at any time or in part from time to time, at the
      Company’s option at a redemption price equal to the greater of:

     

     

    
      
        
        

      

      
        A-1-2

        
          

        

      

      
        
        

      

    

     

     

    (i)  100%
      of
      the principal amount of the Notes to be redeemed; or

     

    (ii)  the
      sum
      of the present values of the remaining scheduled payments of principal and
      interest thereon (not including any portion of such payments of interest accrued
      as of the date of redemption), discounted to the date of redemption on a
      semi-annual basis (assuming a 360-day year consisting of twelve 30-day months)
      at the Treasury Rate, plus 20 basis points,

     

    plus,
      in
      each case, accrued interest thereon to but excluding the date of redemption.
      Notwithstanding the foregoing, installments of interest on Notes that are due
      and payable on Interest Payment Dates falling on or prior to a redemption date
      will be payable on the Interest Payment Date to the registered holders as of
      the
      close of the Business Day on the relevant record date.

     

    Notice
      of
      any redemption will be mailed at least 30 days but not more than 60 days before
      the Redemption Date to each registered holder of the Notes to be redeemed.
      Unless the Company defaults in payment of the redemption price, on and after
      the
      Redemption Date, interest will cease to accrue on the Notes or portions thereof
      called for redemption. If less than all of the Notes are to be redeemed, the
      Notes to be redeemed shall be selected by the Trustee by a method the Trustee
      deems to be fair and appropriate.

     

    Upon
      a
      Change of Control Triggering Event, the Company shall be required to make an
      offer to repurchase the Notes on the terms set forth in the
      Indenture.

     

    If
      an
      Event of Default shall occur and be continuing, the principal of all the Notes
      may be declared due and payable in the manner and with the effect provided
      in
      the Indenture.

     

    The
      Indenture contains provisions for defeasance at any time of (a) the entire
      indebtedness of the Company under this Note and (b) certain restrictive
      covenants and the related defaults and Events of Default applicable to the
      Company, in each case, upon compliance by the Company with certain conditions
      set forth in the Indenture, which provisions apply to this Note.

     

    The
      Indenture permits, with certain exceptions as therein provided, the amendment
      thereof and the modification of the rights and obligations of the Company and
      the rights of the Holders of the Notes under the Indenture at any time by the
      Company and the Trustee with the consent of the Holders of a majority in
      aggregate principal amount of the Notes at the time Outstanding. The Indenture
      also contains provisions permitting the Holders of specified percentages in
      aggregate principal amount of the Notes at the time Outstanding, on behalf
      of
      the Holders of all Notes, to waive compliance by the Company with certain
      provisions of the Indenture and certain past Defaults under the Indenture and
      their consequences. Any such consent or waiver by the Holder of this Note shall
      be conclusive and binding upon such Holder and upon all future Holders of this
      Note and of any Note issued upon the registration of transfer thereof or in
      exchange herefor or in lieu hereof, whether or not notation of such consent
      or
      waiver is made upon this Note.

     

    No
      reference herein to the Indenture and provisions of this Note or of the
      Indenture shall alter or impair the obligation of the Company, which is absolute
      and unconditional, to pay the principal of (and premium, if any) and interest
      on
      this Note at the times, place and rate, and in the coin or currency, as herein
      prescribed.

     

     

    
      
        
        

      

      
        A-1-3

        
          

        

      

      
        
        

      

    

     

     

    As
      provided in the Indenture and subject to certain limitations on transfer of
      this
      Note by DTC or its nominee, the transfer of this Note is registrable in the
      Security Register, upon surrender of this Note for registration of transfer
      at
      the office or agency of the Company in the Borough of Manhattan, The City of
      New
      York, duly endorsed by, or accompanied by a written instrument of transfer
      in
      the form attached hereto duly executed by the Holder hereof or his attorney
      duly
      authorized in writing, and thereupon one or more new Notes, of authorized
      denominations and for the same aggregate principal amount, shall be issued
      to
      the designated transferee or transferees.

     

    The
      Notes
      are issuable only in registered form in denominations of $1,000 and any integral
      multiple thereof. As provided in the Indenture and subject to certain
      limitations therein set forth, the Notes are exchangeable for a like aggregate
      principal amount of Notes of different authorized denomination, as requested
      by
      the Holder surrendering the same.

     

    No
      service charge shall be made for any such registration of transfer or exchange
      of Notes, but the Company may require payment of a sum sufficient to cover
      any
      tax or other governmental charge payable in connection therewith.

     

    Prior
      to
      due presentment of this Note for registration of transfer, the Company, the
      Trustee and any agent of the Company, or the Trustee may treat the Person in
      whose name this Note is registered as the owner hereof for all purposes, whether
      or not this Note be overdue, and none of the Company, the Trustee or any such
      agent shall be affected by notice to the contrary.

     

    Interest
      on this Note shall be computed on the basis of a 360-day year of twelve 30-day
      months.

     

    The
      Company shall furnish to any Holder of record of Notes, upon written request
      and
      without charge, a copy of the Indenture.

     

    The
      Indenture and this Note each shall be governed by and construed in accordance
      with the laws of the State of New York without regard to principles of conflicts
      of law.

     

    Unless
      the certificate of authentication hereon has been executed by the Trustee by
      manual signature, this Note shall not be entitled to any benefit under the
      Indenture or be valid or obligatory for any purpose.

     

     

    
      
        
        

      

      
        A-1-4

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, LOWE'S COMPANIES, INC.
      has
      caused this Note to be signed by a duly elected or appointed, qualified and
      serving officer and attested by a duly elected or appointed, qualified and
      serving officer.

     

    LOWE'S
      COMPANIES, INC.

    

    

    By  ________________________________

    Name: 

    Title: 

    

     

    Dated:
      September 11, 2007

     

    Attest:
      ________________________________

    Name: 

    Title: 

     

    

     

    

     

    TRUSTEE’S
      CERTIFICATE OF AUTHENTICATION

     

    THIS
      IS
      ONE OF THE SECURITIES OF THE SERIES DESIGNATED THEREIN REFERRED TO IN THE
      WITHIN-MENTIONED INDENTURE.

     

    THE
      BANK
      OF NEW YORK TRUST COMPANY, N.A.

    as
      Trustee

    

    By: 
      __________________________________

    Authorized
      Officer

    

     

    
      
        
        

      

      
        A-1-5

        
          

        

      

      
        
        

      

    

     

     

    ABBREVIATIONS

     

    The
      following abbreviations, when used in the inscription on the face of this Note,
      shall be construed as though they were written out in full according to
      applicable laws or regulations:

     

    TEN
      COM -
      tenants in common

    TEN
      ENT -
      tenants by the entireties

    JT
      TEN -
      joint tenants with right of survivorship and not as tenants in
      common

    CUST
      -
      Custodian

    U/G/M/A
      or UNIF GIFT MIN ACT - Uniform Gifts to Minors Act

     

    Additional
      abbreviations may also be used though not in the above list.

     

    

     

    
      
        
        

      

      
        A-1-6

        
          

        

      

      
        
        

      

    

     

    FORM
      OF
      TRANSFER

     

    FOR
      VALUE
      RECEIVED, the undersigned hereby sells, assigns and transfers unto

     

    __________________________________________________________________________________________________________________________

     

    __________________________________________________________________________________________________________________________

    (Please
      print or typewrite name and address of assignee)

     

    ____________________________________________________________________________________________________________________________________________

    (Please
      insert Social Security or other identifying Number of Assignee)

     

    the
      within Note of Lowe’s Companies, Inc. and does hereby irrevocably constitute and
      appoint ________________________________________________________ ,
      Attorney, to transfer the said Note on the books of the within named Lowe’s
      Companies, Inc., with full power of substitution in the premises.

     

    Dated: 
      ____________________________

     

    
      	 	 
	 	
              NOTICE:
                The signature to this assignment must correspond with the name as
                written
                upon the face of this Note in every particular without alteration
                or
                enlargement or any change whatever.

            

    

    

     

    
      	 	 
	
              SIGNATURE
                GUARANTEED:

              The
                signature must be guaranteed by a member of the Securities Transfer
                Agents
                Medallion Program. Notarized or witnessed signatures are nor
                acceptable.

            	 

    

    

    
      
        
        

      

      
        A-1-7

        
          

        

      

      
        
        

      

    

    PAYMENT
      INSTRUCTIONS

     

    The
      assignee should include the following for purposes of payment:

     

    Payment
      shall be made, by wire transfer or otherwise, in immediately available funds,
      to
                         ,
      for the
      account of                                    
      ,
      account number                      ,
      or, if
      mailed by check, to                                         .
      Applicable reports and statements required to be physically delivered under
      the
      terms of the Indenture should be mailed to                                 .
      This
      information is provided by                             ,
      the
      assignee named above, or                                 ,
      as its
      agent.

    

     

    
      
        
        

      

      
        A-1-8

        
          

        

      

      
        
        

      

    

    

    EXHIBIT
      A-2

    

    FORM
      OF
      GLOBAL NOTE

     

    UNLESS
      THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
      TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO LOWE’S COMPANIES, INC. OR ITS
      AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
      ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER ENTITY OR IN
      SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND
      ANY
      PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED
      BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE
      HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS
      THE
      REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
      HEREIN.

     

    LOWE’S
      COMPANIES, INC.

     

    6.10%
      Notes due September 15, 2017

     

    GLOBAL
      SECURITY

     

    No.
      1                                                                                 CUSIP
      No. 548661 CN5

     

    $250,000,000

    Original
      Principal Amount

     

    Lowe’s
      Companies, Inc., a corporation duly organized and existing under the laws of
      the
      State of North Carolina (herein called the “Company”, which term includes any
      successor Person under the Indenture hereinafter referred to), for value
      received, hereby promises to pay to Cede & Co. or its registered assigns,
      the principal sum of $250,000,000 on September 15, 2017, at the office or agency
      of the Company referred to below, in such coin or currency of the United States
      of America as at the time of payment is legal tender for the payment of public
      and private debts, and to pay interest thereon in like coin or currency from
      September 11, 2007, or from the most recent Interest Payment Date on which
      interest has been paid or duly provided for, semi-annually in arrears on March
      15 and September 15 in each year, commencing March 15, 2008, at the rate of
      6.10% per annum until the principal hereof is paid or made available for
      payment, and (to the extent lawful) to pay interest at the same rate per annum
      on any overdue principal and premium and on any overdue installments of interest
      until paid.

     

    The
      interest so payable, and punctually paid or duly provided for, on any Interest
      Payment Date, as provided in the Amended and Restated Indenture, dated as of
      December 1, 1995 (the “Base Indenture”) between the Company and The Bank of New
      York Trust Company, 

     

     

    
      
        
        

      

      
        A-2-1

        
          

        

      

      
        
        

      

    

     

     

    N.A.,
      as
      trustee (the “Trustee”), as supplemented by the Fifth Supplemental Indenture
      dated as of September 11, 2007, between the Company and the Trustee (the “Fifth
      Supplemental Indenture” and, together with the Base Indenture, the “Indenture”)
      shall be paid to the Person in whose name this Note is registered at the close
      of business on the respective Regular Record Date for such interest, which
      shall
      be the March 1 or September 1 (whether or not a Business Day), as the case
      may
      be, next preceding such Interest Payment Date. Any such interest not so
      punctually paid or duly provided for will forthwith cease to be payable to
      the
      Person in whose name this Note is registered on such Regular Record Date and
      may
      either be paid to the Person in whose name this Note is registered at the close
      of business on a Special Record Date for the payment of such Defaulted Interest
      to be fixed in accordance with Section 307 of the Base Indenture by the Trustee,
      notice whereof shall be given to the Person in whose name this Note is
      registered not less than ten days prior to such Special Record Date, or be
      paid
      at any time in any other lawful manner, all as more fully provided in the
      Indenture.

     

    This
      Note
      is a “book-entry” note and is being registered in the name of Cede & Co. as
      nominee of The Depository Trust Company (“DTC”), a clearing agency. Subject to
      the terms of the Indenture, this Note will be held by a clearing agency or
      its
      nominee, and beneficial interests will be held by beneficial owners through
      the
      book-entry facilities of such clearing agency or its nominee in minimum
      denominations of $1,000 and increments of $1,000 in excess thereof.

     

    As
      long
      as this Note is registered in the name of DTC or its nominee, the Trustee will
      make payments of principal of and interest on this Note by wire transfer of
      immediately available funds to DTC or its nominee. Notwithstanding the above,
      the final payment on this Note will be made after due notice by the Trustee
      of
      the pendency of such payment and only upon presentation and surrender of this
      Note at its principal corporate trust office or such other office or agencies
      appointed by the Trustee for that purpose and such other locations provided
      in
      the Indenture.

     

    Payments
      of principal of (and premium, if any) and interest on this Note will be made
      at
      the office or agency of the Company maintained for that purpose in the Borough
      of Manhattan, The City of New York, in such coin or currency of the United
      States of America as at the time of payment is legal tender for payments of
      public and private debts; provided,
      however,
      that at
      the option of the Company, payment of interest may be made by check mailed
      to
      the address of the Person entitled thereto as such address shall appear in
      the
      Security Register.

     

    This
      Note
      is one of a duly authorized series of notes of the Company, designated 6.10%
      Notes due 2017 (the “Notes”), limited in aggregate principal amount at any time
      outstanding to TWO HUNDRED FIFTY MILLION DOLLARS ($250,000,000) which may be
      issued under the Indenture. Reference is hereby made to the Indenture and all
      indentures supplemental thereto which are applicable to the Notes for a
      statement of the respective rights, limitations of rights, duties, obligations
      and immunities thereunder of the Company, the Trustee and the Holders of the
      Notes, and the terms upon which the Notes are, and are to be, authenticated
      and
      delivered. All terms used in this Note that are defined in the Indenture shall
      have the meanings assigned to them in the Indenture.

     

    The
      Notes
      do not have the benefit of any sinking fund obligations.

     

     

    
      
        
        

      

      
        A-2-2

        
          

        

      

      
        
        

      

    

     

     

    The
      Notes
      will be redeemable, in whole at any time or in part from time to time, at the
      Company’s option at a redemption price equal to the greater of:

     

    (i)  100%
      of
      the principal amount of the Notes to be redeemed; or

     

    (ii)  the
      sum
      of the present values of the remaining scheduled payments of principal and
      interest thereon (not including any portion of such payments of interest accrued
      as of the date of redemption), discounted to the date of redemption on a
      semi-annual basis (assuming a 360-day year consisting of twelve 30-day months)
      at the Treasury Rate, plus 25 basis points,

     

    plus,
      in
      each case, accrued interest thereon to but excluding the date of redemption.
      Notwithstanding the foregoing, installments of interest on Notes that are due
      and payable on Interest Payment Dates falling on or prior to a redemption date
      will be payable on the Interest Payment Date to the registered holders as of
      the
      close of the Business Day on the relevant record date.

     

    Notice
      of
      any redemption will be mailed at least 30 days but not more than 60 days before
      the Redemption Date to each registered holder of the Notes to be redeemed.
      Unless the Company defaults in payment of the redemption price, on and after
      the
      Redemption Date, interest will cease to accrue on the Notes or portions thereof
      called for redemption. If less than all of the Notes are to be redeemed, the
      Notes to be redeemed shall be selected by the Trustee by a method the Trustee
      deems to be fair and appropriate.

     

    Upon
      a
      Change of Control Triggering Event, the Company shall be required to make an
      offer to repurchase the Notes on the terms set forth in the
      Indenture.

     

    If
      an
      Event of Default shall occur and be continuing, the principal of all the Notes
      may be declared due and payable in the manner and with the effect provided
      in
      the Indenture.

     

    The
      Indenture contains provisions for defeasance at any time of (a) the entire
      indebtedness of the Company under this Note and (b) certain restrictive
      covenants and the related defaults and Events of Default applicable to the
      Company, in each case, upon compliance by the Company with certain conditions
      set forth in the Indenture, which provisions apply to this Note.

     

    The
      Indenture permits, with certain exceptions as therein provided, the amendment
      thereof and the modification of the rights and obligations of the Company and
      the rights of the Holders of the Notes under the Indenture at any time by the
      Company and the Trustee with the consent of the Holders of a majority in
      aggregate principal amount of the Notes at the time Outstanding. The Indenture
      also contains provisions permitting the Holders of specified percentages in
      aggregate principal amount of the Notes at the time Outstanding, on behalf
      of
      the Holders of all Notes, to waive compliance by the Company with certain
      provisions of the Indenture and certain past Defaults under the Indenture and
      their consequences. Any such consent or waiver by the Holder of this Note shall
      be conclusive and binding upon such Holder and upon all future Holders of this
      Note and of any Note issued upon the registration of transfer thereof or in
      exchange herefor or in lieu hereof, whether or not notation of such consent
      or
      waiver is made upon this Note.

     

     

    
      
        
        

      

      
        A-2-3

        
          

        

      

      
        
        

      

    

     

     

    No
      reference herein to the Indenture and provisions of this Note or of the
      Indenture shall alter or impair the obligation of the Company, which is absolute
      and unconditional, to pay the principal of (and premium, if any) and interest
      on
      this Note at the times, place and rate, and in the coin or currency, as herein
      prescribed.

     

    As
      provided in the Indenture and subject to certain limitations on transfer of
      this
      Note by DTC or its nominee, the transfer of this Note is registrable in the
      Security Register, upon surrender of this Note for registration of transfer
      at
      the office or agency of the Company in the Borough of Manhattan, The City of
      New
      York, duly endorsed by, or accompanied by a written instrument of transfer
      in
      the form attached hereto duly executed by the Holder hereof or his attorney
      duly
      authorized in writing, and thereupon one or more new Notes, of authorized
      denominations and for the same aggregate principal amount, shall be issued
      to
      the designated transferee or transferees.

     

    The
      Notes
      are issuable only in registered form in denominations of $1,000 and any integral
      multiple thereof. As provided in the Indenture and subject to certain
      limitations therein set forth, the Notes are exchangeable for a like aggregate
      principal amount of Notes of different authorized denomination, as requested
      by
      the Holder surrendering the same.

     

    No
      service charge shall be made for any such registration of transfer or exchange
      of Notes, but the Company may require payment of a sum sufficient to cover
      any
      tax or other governmental charge payable in connection therewith.

     

    Prior
      to
      due presentment of this Note for registration of transfer, the Company, the
      Trustee and any agent of the Company, or the Trustee may treat the Person in
      whose name this Note is registered as the owner hereof for all purposes, whether
      or not this Note be overdue, and none of the Company, the Trustee or any such
      agent shall be affected by notice to the contrary.

     

    Interest
      on this Note shall be computed on the basis of a 360-day year of twelve 30-day
      months.

     

    The
      Company shall furnish to any Holder of record of Notes, upon written request
      and
      without charge, a copy of the Indenture.

     

    The
      Indenture and this Note each shall be governed by and construed in accordance
      with the laws of the State of New York without regard to principles of conflicts
      of law.

     

    Unless
      the certificate of authentication hereon has been executed by the Trustee by
      manual signature, this Note shall not be entitled to any benefit under the
      Indenture or be valid or obligatory for any purpose.

     

     

    
      
        
        

      

      
        A-2-4

        
          

        

      

      
        
        

      

    

    
 

    
      IN
        WITNESS WHEREOF, LOWE'S COMPANIES, INC.
        has
        caused this Note to be signed by a duly elected or appointed, qualified and
        serving officer and attested by a duly elected or appointed, qualified and
        serving officer.

       

      LOWE'S
        COMPANIES, INC.

      

      

      By  ________________________________

      Name: 

      Title: 

      

       

      Dated:
        September 11, 2007

       

      Attest:
        ________________________________

      Name: 

      Title: 

       

      

       

      

       

      TRUSTEE’S
        CERTIFICATE OF AUTHENTICATION

       

      THIS
        IS
        ONE OF THE SECURITIES OF THE SERIES DESIGNATED THEREIN REFERRED TO IN THE
        WITHIN-MENTIONED INDENTURE.

       

      THE
        BANK
        OF NEW YORK TRUST COMPANY, N.A.

      as
        Trustee

      

      By: 
        __________________________________

      Authorized
        Officer

    

    

     

    
      
        
        

      

      
        A-2-5

        
          

        

      

      
        
        

      

    

    ABBREVIATIONS

     

    The
      following abbreviations, when used in the inscription on the face of this Note,
      shall be construed as though they were written out in full according to
      applicable laws or regulations:

     

    TEN
      COM -
      tenants in common

    TEN
      ENT -
      tenants by the entireties

    JT
      TEN -
      joint tenants with right of survivorship and not as tenants in
      common

    CUST
      -
      Custodian

    U/G/M/A
      or UNIF GIFT MIN ACT - Uniform Gifts to Minors Act

     

    Additional
      abbreviations may also be used though not in the above list.

     

     

    
      
        
        

      

      
        A-2-6

        
          

        

      

      
        
        

      

    

     

     

    
      FORM
        OF
        TRANSFER

       

      FOR
        VALUE
        RECEIVED, the undersigned hereby sells, assigns and transfers unto

       

      ____________________________________________________________________________________________________________________________________________

       

      ____________________________________________________________________________________________________________________________________________

      (Please
        print or typewrite name and address of assignee)

       

      ____________________________________________________________________________________________________________________________________________

      (Please
        insert Social Security or other identifying Number of Assignee)

       

      the
        within Note of Lowe’s Companies, Inc. and does hereby irrevocably constitute and
        appoint ________________________________________________________ ,
        Attorney, to transfer the said Note on the books of the within named Lowe’s
        Companies, Inc., with full power of substitution in the premises.

       

      Dated: 
        ____________________________

       

      
        	 	 
	 	
                NOTICE:
                  The signature to this assignment must correspond with the name
                  as written
                  upon the face of this Note in every particular without alteration
                  or
                  enlargement or any change whatever.

              

      

      

       

      
        	 	 
	
                SIGNATURE
                  GUARANTEED:

                The
                  signature must be guaranteed by a member of the Securities Transfer
                  Agents
                  Medallion Program. Notarized or witnessed signatures are nor
                  acceptable.

              	 

      

      
 

    

    
      
        
        

      

      
        A-2-7

        
          

        

      

      
        
        

      

    

     

    PAYMENT
      INSTRUCTIONS

     

    The
      assignee should include the following for purposes of payment:

     

    Payment
      shall be made, by wire transfer or otherwise, in immediately available funds,
      to
                         ,
      for the
      account of                                    
      ,
      account number                      ,
      or, if
      mailed by check, to                                         .
      Applicable reports and statements required to be physically delivered under
      the
      terms of the Indenture should be mailed to                                 .
      This
      information is provided by                             ,
      the
      assignee named above, or                                 ,
      as its
      agent.

     

    

    
      
        
        

      

      
        A-2-8

        
          

        

      

      
        
        

      

    

    

    EXHIBIT
      A-3

    FORM
      OF
      GLOBAL NOTE

     

    UNLESS
      THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
      TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO LOWE’S COMPANIES, INC. OR ITS
      AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
      ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER ENTITY OR IN
      SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND
      ANY
      PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED
      BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE
      HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS
      THE
      REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
      HEREIN.

     

    LOWE’S
      COMPANIES, INC.

     

    6.65%
      Notes due September 15, 2037

     

    GLOBAL
      SECURITY

     

    No.
      1                                                                                 CUSIP
      No. 548661 CP0

     

    $500,000,000

    Original
      Principal Amount

     

    Lowe’s
      Companies, Inc., a corporation duly organized and existing under the laws of
      the
      State of North Carolina (herein called the “Company”, which term includes any
      successor Person under the Indenture hereinafter referred to), for value
      received, hereby promises to pay to Cede & Co. or its registered assigns,
      the principal sum of $500,000,000 on September 15, 2037, at the office or agency
      of the Company referred to below, in such coin or currency of the United States
      of America as at the time of payment is legal tender for the payment of public
      and private debts, and to pay interest thereon in like coin or currency from
      September 11, 2007, or from the most recent Interest Payment Date on which
      interest has been paid or duly provided for, semi-annually in arrears on March
      15 and September 15 in each year, commencing March 15, 2008, at the rate of
      6.65% per annum until the principal hereof is paid or made available for
      payment, and (to the extent lawful) to pay interest at the same rate per annum
      on any overdue principal and premium and on any overdue installments of interest
      until paid.

     

    The
      interest so payable, and punctually paid or duly provided for, on any Interest
      Payment Date, as provided in the Amended and Restated Indenture, dated as of
      December 1, 1995 (the “Base Indenture”) between the Company and The Bank of New
      York Trust Company, N.A., as trustee (the “Trustee”), as supplemented by the
      Fifth Supplemental Indenture dated as of 

     

     

    
      
        
        

      

      
        A-3-1

        
          

        

      

      
        
        

      

    

     

     

    September
      11, 2007, between the Company and the Trustee (the “Fifth Supplemental
      Indenture” and, together with the Base Indenture, the “Indenture”) shall be paid
      to the Person in whose name this Note is registered at the close of business
      on
      the respective Regular Record Date for such interest, which shall be the March
      1
      or September 1 (whether or not a Business Day), as the case may be, next
      preceding such Interest Payment Date. Any such interest not so punctually paid
      or duly provided for will forthwith cease to be payable to the Person in whose
      name this Note is registered on such Regular Record Date and may either be
      paid
      to the Person in whose name this Note is registered at the close of business
      on
      a Special Record Date for the payment of such Defaulted Interest to be fixed
      in
      accordance with Section 307 of the Base Indenture by the Trustee, notice whereof
      shall be given to the Person in whose name this Note is registered not less
      than
      ten days prior to such Special Record Date, or be paid at any time in any other
      lawful manner, all as more fully provided in the Indenture.

     

    This
      Note
      is a “book-entry” note and is being registered in the name of Cede & Co. as
      nominee of The Depository Trust Company (“DTC”), a clearing agency. Subject to
      the terms of the Indenture, this Note will be held by a clearing agency or
      its
      nominee, and beneficial interests will be held by beneficial owners through
      the
      book-entry facilities of such clearing agency or its nominee in minimum
      denominations of $1,000 and increments of $1,000 in excess thereof.

     

    As
      long
      as this Note is registered in the name of DTC or its nominee, the Trustee will
      make payments of principal of and interest on this Note by wire transfer of
      immediately available funds to DTC or its nominee. Notwithstanding the above,
      the final payment on this Note will be made after due notice by the Trustee
      of
      the pendency of such payment and only upon presentation and surrender of this
      Note at its principal corporate trust office or such other office or agencies
      appointed by the Trustee for that purpose and such other locations provided
      in
      the Indenture.

     

    Payments
      of principal of (and premium, if any) and interest on this Note will be made
      at
      the office or agency of the Company maintained for that purpose in the Borough
      of Manhattan, The City of New York, in such coin or currency of the United
      States of America as at the time of payment is legal tender for payments of
      public and private debts; provided,
      however,
      that at
      the option of the Company, payment of interest may be made by check mailed
      to
      the address of the Person entitled thereto as such address shall appear in
      the
      Security Register.

     

    This
      Note
      is one of a duly authorized series of notes of the Company, designated 6.65%
      Notes due 2037 (the “Notes”), limited in aggregate principal amount at any time
      outstanding to FIVE HUNDRED MILLION DOLLARS ($500,000,000) which may be issued
      under the Indenture. Reference is hereby made to the Indenture and all
      indentures supplemental thereto which are applicable to the Notes for a
      statement of the respective rights, limitations of rights, duties, obligations
      and immunities thereunder of the Company, the Trustee and the Holders of the
      Notes, and the terms upon which the Notes are, and are to be, authenticated
      and
      delivered. All terms used in this Note that are defined in the Indenture shall
      have the meanings assigned to them in the Indenture.

     

    The
      Notes
      do not have the benefit of any sinking fund obligations.

     

     

    
      
        
        

      

      
        A-3-2

        
          

        

      

      
        
        

      

    

     

     

    The
      Notes
      will be redeemable, in whole at any time or in part from time to time, at the
      Company’s option at a redemption price equal to the greater of:

     

    (i)  100%
      of
      the principal amount of the Notes to be redeemed; or

     

    (ii)  the
      sum
      of the present values of the remaining scheduled payments of principal and
      interest thereon (not including any portion of such payments of interest accrued
      as of the date of redemption), discounted to the date of redemption on a
      semi-annual basis (assuming a 360-day year consisting of twelve 30-day months)
      at the Treasury Rate, plus 30 basis points,

     

    plus,
      in
      each case, accrued interest thereon to but excluding the date of redemption.
      Notwithstanding the foregoing, installments of interest on Notes that are due
      and payable on Interest Payment Dates falling on or prior to a redemption date
      will be payable on the Interest Payment Date to the registered holders as of
      the
      close of the Business Day on the relevant record date.

     

    Notice
      of
      any redemption will be mailed at least 30 days but not more than 60 days before
      the Redemption Date to each registered holder of the Notes to be redeemed.
      Unless the Company defaults in payment of the redemption price, on and after
      the
      Redemption Date, interest will cease to accrue on the Notes or portions thereof
      called for redemption. If less than all of the Notes are to be redeemed, the
      Notes to be redeemed shall be selected by the Trustee by a method the Trustee
      deems to be fair and appropriate.

     

    Upon
      a
      Change of Control Triggering Event, the Company shall be required to make an
      offer to repurchase the Notes on the terms set forth in the
      Indenture.

     

    If
      an
      Event of Default shall occur and be continuing, the principal of all the Notes
      may be declared due and payable in the manner and with the effect provided
      in
      the Indenture.

     

    The
      Indenture contains provisions for defeasance at any time of (a) the entire
      indebtedness of the Company under this Note and (b) certain restrictive
      covenants and the related defaults and Events of Default applicable to the
      Company, in each case, upon compliance by the Company with certain conditions
      set forth in the Indenture, which provisions apply to this Note.

     

    The
      Indenture permits, with certain exceptions as therein provided, the amendment
      thereof and the modification of the rights and obligations of the Company and
      the rights of the Holders of the Notes under the Indenture at any time by the
      Company and the Trustee with the consent of the Holders of a majority in
      aggregate principal amount of the Notes at the time Outstanding. The Indenture
      also contains provisions permitting the Holders of specified percentages in
      aggregate principal amount of the Notes at the time Outstanding, on behalf
      of
      the Holders of all Notes, to waive compliance by the Company with certain
      provisions of the Indenture and certain past Defaults under the Indenture and
      their consequences. Any such consent or waiver by the Holder of this Note shall
      be conclusive and binding upon such Holder and upon all future Holders of this
      Note and of any Note issued upon the registration of transfer thereof or in
      exchange herefor or in lieu hereof, whether or not notation of such consent
      or
      waiver is made upon this Note.

     

     

    
      
        
        

      

      
        A-3-3

        
          

        

      

      
        
        

      

    

     

     

    No
      reference herein to the Indenture and provisions of this Note or of the
      Indenture shall alter or impair the obligation of the Company, which is absolute
      and unconditional, to pay the principal of (and premium, if any) and interest
      on
      this Note at the times, place and rate, and in the coin or currency, as herein
      prescribed.

     

    As
      provided in the Indenture and subject to certain limitations on transfer of
      this
      Note by DTC or its nominee, the transfer of this Note is registrable in the
      Security Register, upon surrender of this Note for registration of transfer
      at
      the office or agency of the Company in the Borough of Manhattan, The City of
      New
      York, duly endorsed by, or accompanied by a written instrument of transfer
      in
      the form attached hereto duly executed by the Holder hereof or his attorney
      duly
      authorized in writing, and thereupon one or more new Notes, of authorized
      denominations and for the same aggregate principal amount, shall be issued
      to
      the designated transferee or transferees.

     

    The
      Notes
      are issuable only in registered form in denominations of $1,000 and any integral
      multiple thereof. As provided in the Indenture and subject to certain
      limitations therein set forth, the Notes are exchangeable for a like aggregate
      principal amount of Notes of different authorized denomination, as requested
      by
      the Holder surrendering the same.

     

    No
      service charge shall be made for any such registration of transfer or exchange
      of Notes, but the Company may require payment of a sum sufficient to cover
      any
      tax or other governmental charge payable in connection therewith.

     

    Prior
      to
      due presentment of this Note for registration of transfer, the Company, the
      Trustee and any agent of the Company, or the Trustee may treat the Person in
      whose name this Note is registered as the owner hereof for all purposes, whether
      or not this Note be overdue, and none of the Company, the Trustee or any such
      agent shall be affected by notice to the contrary.

     

    Interest
      on this Note shall be computed on the basis of a 360-day year of twelve 30-day
      months.

     

    The
      Company shall furnish to any Holder of record of Notes, upon written request
      and
      without charge, a copy of the Indenture.

     

    The
      Indenture and this Note each shall be governed by and construed in accordance
      with the laws of the State of New York without regard to principles of conflicts
      of law.

     

    Unless
      the certificate of authentication hereon has been executed by the Trustee by
      manual signature, this Note shall not be entitled to any benefit under the
      Indenture or be valid or obligatory for any purpose.

     

    
      
        
        

      

      
        A-3-4

        
          

        

      

      
        
        

      

    

    
 

    
      
        IN
          WITNESS WHEREOF, LOWE'S COMPANIES, INC.
          has
          caused this Note to be signed by a duly elected or appointed, qualified
          and
          serving officer and attested by a duly elected or appointed, qualified
          and
          serving officer.

         

        LOWE'S
          COMPANIES, INC.

        

        

        By  ________________________________

        Name: 

        Title: 

        

         

        Dated:
          September 11, 2007

         

        Attest:
          ________________________________

        Name: 

        Title: 

         

        

         

        

         

        TRUSTEE’S
          CERTIFICATE OF AUTHENTICATION

         

        THIS
          IS
          ONE OF THE SECURITIES OF THE SERIES DESIGNATED THEREIN REFERRED TO IN THE
          WITHIN-MENTIONED INDENTURE.

         

        THE
          BANK
          OF NEW YORK TRUST COMPANY, N.A.

        as
          Trustee

        

        By: 
          __________________________________

        Authorized
          Officer

      

    

     

     

    
      
        
        

      

      
        A-3-5

        
          

        

      

      
        
        

      

    

    ABBREVIATIONS

     

    The
      following abbreviations, when used in the inscription on the face of this Note,
      shall be construed as though they were written out in full according to
      applicable laws or regulations:

     

    TEN
      COM -
      tenants in common

    TEN
      ENT -
      tenants by the entireties

    JT
      TEN -
      joint tenants with right of survivorship and not as tenants in
      common

    CUST
      -
      Custodian

    U/G/M/A
      or UNIF GIFT MIN ACT - Uniform Gifts to Minors Act

     

    Additional
      abbreviations may also be used though not in the above list.

     

     

    
      
        
        

      

      
        A-3-6

        
          

        

      

      
        
        

      

    

    
       

      
        FORM
          OF
          TRANSFER

         

        FOR
          VALUE
          RECEIVED, the undersigned hereby sells, assigns and transfers unto

         

        ____________________________________________________________________________________________________________________________________________

         

        ____________________________________________________________________________________________________________________________________________

        (Please
          print or typewrite name and address of assignee)

         

        ____________________________________________________________________________________________________________________________________________

        (Please
          insert Social Security or other identifying Number of Assignee)

         

        the
          within Note of Lowe’s Companies, Inc. and does hereby irrevocably constitute and
          appoint ________________________________________________________ ,
          Attorney, to transfer the said Note on the books of the within named Lowe’s
          Companies, Inc., with full power of substitution in the premises.

         

        Dated: 
          ____________________________

         

        
          	 	 
	 	
                  NOTICE:
                    The signature to this assignment must correspond with the name
                    as written
                    upon the face of this Note in every particular without alteration
                    or
                    enlargement or any change whatever.

                

        

        

         

        
          	 	 
	
                  SIGNATURE
                    GUARANTEED:

                  The
                    signature must be guaranteed by a member of the Securities Transfer
                    Agents
                    Medallion Program. Notarized or witnessed signatures are nor
                    acceptable.

                	 

        

        

          
            
              
              

            

            
              A-3-7

              
                

              

            

            
              
              

            

          

      

    

    PAYMENT
      INSTRUCTIONS

     

    The
      assignee should include the following for purposes of payment:

     

    Payment
      shall be made, by wire transfer or otherwise, in immediately available funds,
      to
                         ,
      for the
      account of                                    
      ,
      account number                      ,
      or, if
      mailed by check, to                                         .
      Applicable reports and statements required to be physically delivered under
      the
      terms of the Indenture should be mailed to                                 .
      This
      information is provided by                             ,
      the
      assignee named above, or                                 ,
      as its
      agent.

     

     

    
      
        
        

      

      
        A-3-8

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