Document:

Exhibit 10.5

(NON-EMPLOYEE DIRECTOR)

THE HOME
DEPOT, INC.

NONQUALIFIED
STOCK OPTION

	
  GRANTED TO:  <NAME>  

  	
   

  	
  GRANT DATE:  <GRANT DATE>

  	
   

  	
  NUMBER OF SHARES OF THE HOME DEPOT, INC. COMMON
  STOCK

  <OPTIONS GRANTED>

  	
   

  	
  OPTION PRICE

  PER SHARE:  <OPTION
  PRICE>

  
	
  Identification #:  <SSN>

  	
   

  	
  EXP. DATE:  <EXPIRATION DATE>

  	
   

  	
   

  	
   

  	
   

  

 

THIS
NONQUALIFIED STOCK OPTION IS GRANTED by The Home Depot, Inc.
a Delaware corporation (“Company”), to you, a non-employee director of the
Company pursuant to the Company’s 2005 Omnibus Stock Incentive Plan, as amended
(“Plan”), a summary of which has been delivered to you. The terms of the Plan
are incorporated herein by this reference. The Company recognizes the value of
your continued service as a non-employee director and has awarded you a
nonqualified stock option under the Plan subject to the following terms and
conditions:

1.   The Company hereby grants you on and as of
the date specified above (“Grant Date”) a nonqualified stock option (“Option”),
subject to the terms and conditions hereof and of the Plan, to purchase from
the Company the above stated number of shares of the Company’s Common Stock,
$.05 par value, at the price stated above (“Option Price”), which Option shall
expire on the expiration date stated above (“Exp. Date”).

2.   The Option shall be exercisable, pursuant to
the terms of the Plan. The Option shall become exercisable in installments, as
follows:Twenty-five percent (25%) of the total number of shares subject
to this Option shall become exercisable on each of the second, third, fourth
and fifth anniversaries of the Grant Date.

3.   Upon the event of the termination of your
service on the Board of Directors of the Company (for any reason other than
Retirement, death or permanent and total disability or Discharge for Cause),
Option shares which have not become exercisable as of the date of such event
shall immediately lapse. Option shares which are exercisable as of the date of
termination of service on the Board will lapse unless exercised within a period
of six (6) months of the date of termination of service. Upon the termination
of your service on the Board upon Retirement, all stock options that are not
exercisable as of the date of your Retirement shall continue to vest according
to the schedule set forth in Paragraph 2 and all stock options shall remain
exercisable until the Exp. Date. “Retirement” means termination of Board
service upon attainment of age 60 or later with at least five (5) years of continuous
Board service. In the event of your death or termination of your service by
reason of permanent and total disability, all Option shares shall immediately
become fully exercisable as of the date of death or termination and shall lapse
unless exercised within a period of one (1) year from the date of death or termination.
In no event, shall the above time periods extend beyond the Exp. Date. In the
event of a Discharge for Cause, all Option shares, whether presently
exercisable or not, shall immediately lapse and become null and void on and as
of the date of termination. “Discharge for Cause” shall mean the termination
from service on the Board because of an event involving moral turpitude or
dishonesty, a gross failure or negligence on the part of the director to
perform his or her expected duties, a violation of the Company’s substance
abuse policies, or a willful misconduct or action by the director that is
damaging or detrimental to the Company. A determination by the Company that a
termination is a Discharge for Cause will be conclusive and binding.

4.  
All unvested options shall vest immediately upon a
Change of Control and shall remain exercisable until the Exp. Date. For
purposes of this paragraph 4, “Change in Control” shall mean the occurrence of
a change in control of a nature that would be required to be reported in
response to Item 6(e) of Schedule 14A of Regulation 14A under the Securities
Exchange Act of 1934 (“1934 Act”) as in effect at the time of such change in
control, provided that such a change in control shall be deemed to have occurred
at such time as (i) any “person” (as that term is used in Sections 13(d) and
14(d) (2) of the 1934 Act), is or becomes the “beneficial owner,” directly or
indirectly, of securities representing 50% or more of the combined voting power
for election of directors of the then outstanding securities of the Company or
any successor of the Company; (ii) during any period of two (2) consecutive
years or less, individuals who at the beginning of such period constituted the
Board cease, for any reason, to constitute at least a majority of the Board,
unless the election or nomination for election of each new director was
approved by a vote of at least two-thirds of the directors then still in office
who were directors at the beginning of the period or whose election or
nomination for election was so approved; (iii) the consummation of any merger
or consolidation, approved by the stockholders of the Company, as a result of
which the common stock of the Company shall be changed, converted or exchanged
(other than a merger with a wholly owned subsidiary of the Company) or of any
sale or other disposition in one or a series of related transactions of 50% or
more of the assets or earning power of the Company, or the approval by
stockholders of any liquidation of the Company; or (iv) the consummation of any
merger or consolidation, approved by the stockholders of the Company, to which
the Company is a party as a result of which the persons who were stockholders
of the Company immediately prior to the effective date of the merger or
consolidation shall have beneficial ownership of less than 50% of the combined
voting power for election of directors of the surviving corporation following
the effective date of such merger or consolidation.

5.   The exercisable portion of the Option may be
exercised in whole or in part but in no event with respect to a fractional
share from time to time until the Exp. Date. Exercise shall be by written
notice of exercise to the Company, specifying the number of shares to be
purchased, the Option Price of each share and the aggregate Option Price for
all shares being purchased under said notice. The notice shall be accompanied
by payment of the aggregate option price for the number of shares purchased and
any applicable withholding taxes. Such exercise (subject to Paragraph 5 hereof)
shall be effective upon the actual receipt of such payment and written notice
to the Company. The aggregate Option Price for all shares purchased pursuant to
an exercise of the Option shall be paid by check payable to the order of the
Company or properly endorsed stock certificates representing the Common Stock
of the Company or a combination of both valued at the time of such purchase and
prior to delivery of such shares. There shall be furnished with each notice of
the exercise of any portion of the Option such documents as the Company in its
discretion may deem necessary to assure compliance with applicable rules and
regulations of any stock exchange or governmental authority. No rights or
privileges of a stockholder of the Company in respect to such shares issuable
upon the exercise of any part of the Option shall accrue to you unless and
until certificates representing such shares have been issued and delivered.

6.   The Option shall not be exercised in whole
or in part and no related share certificates shall be delivered in the sole
discretion of the Company: (a) if such exercise or delivery would constitute a
violation of any provision of, or any regulation or order entered pursuant to,
any law purporting to regulate wages, salaries or compensation; or (b) if any
requisite approval, consent, registration or other qualification of any stock
exchange upon which the securities of the Company may then be listed, the
Securities and Exchange Commission or other governmental authority having
jurisdiction over the exercise of the Option or the issuance of shares pursuant
thereto, shall not have been secured.

7.   Except as provided in this Section below,
this Option shall not be sold, pledged, assigned, hypothecated, transferred or
disposed of in any manner, other than by will or the laws of descent and
distribution, and this Option shall be exercisable during your lifetime only by
you or, in the event of your legal incapacity, by your guardian or legal
representative acting in a fiduciary capacity on your behalf under state law. Notwithstanding
the foregoing, you may transfer this Option, in whole or in part, to a spouse
or lineal descendant (a “Family Member”), a trust for the exclusive benefit of
Family Members, a partnership or other entity in which all the beneficial
owners are Family Members, or any other entity affiliated with you that may be
approved by the Committee. Subsequent transfers of this Option shall be
prohibited except in accordance with this Section. All terms and conditions of
this Agreement, including provisions relating to the termination of your
employment, shall continue to apply following a transfer made in accordance
with this Section. Any attempt to transfer this Option in violation of this
Section shall render this Option null and void.Exhibit 10.6

[OFFICER]

THE HOME DEPOT, INC.

NONQUALIFIED STOCK OPTION

	
  GRANTED TO: 
  <NAME>

   

  	
   

  	
  GRANT DATE:   
  <GRANT DATE>

  	
   

  	
  NUMBER OF SHARES OF THE HOME DEPOT, INC. COMMON
  STOCK: <OPTIONS GRANTED>

  	
   

  	
  OPTION PRICE

  PER SHARE:  <OPTION PRICE>

  
	
  Social Security #: 
  <SSN>

  	
   

  	
  EXP. DATE: 
  <EXPIRATION DATE>

  	
   

  	
   

  	
   

  	
   

  

 

THIS NONQUALIFIED
STOCK OPTION IS GRANTED by The Home Depot, Inc. a Delaware
corporation (“Company”), to you, an employee of the Company or one of its
subsidiaries, pursuant to the terms and conditions of the Company’s 2005
Omnibus Stock Incentive Plan, as amended (“Plan”), a summary of which has been
delivered to you.  The terms of the Plan
are incorporated herein by this reference. The Company recognizes the value of
your continued service as a key employee and has awarded you this nonqualified
stock option under the Plan, subject to the following terms and conditions:

1.   The Company hereby grants you on and as of
the date specified above (“Grant Date”) a nonqualified stock option (“Option”),
subject to the terms and conditions hereof and of the Plan, to purchase from
the Company the above-stated number of shares of the Company’s Common Stock,
$.05 par value, at the price per share stated above (“Option Price”), which
Option shall expire on the expiration date stated above (“Exp. Date”), unless
it expires earlier in accordance with the terms hereof.

2.   The Option shall be exercisable, pursuant to
the terms of the Plan.  The Option shall
become exercisable in installments, as follows: 
Twenty-five percent (25%) of the total number of shares subject
to this Option shall become exercisable on each of the second, third, fourth
and fifth  anniversaries of the Grant Date.

3.   Upon the termination of your employment (for any reason other than Retirement,
death or permanent and total disability or Discharge for Cause)  or if your employment status changes to a position which
the Company deems to be ineligible for this nonqualified stock option award,
Option shares that have not become exercisable as of the date of such event
shall immediately lapse.  Option shares
that are exercisable as of the date of termination of employment will lapse
unless exercised within a period of three (3) months of the date of termination
of employment. Upon the termination of your employment upon Retirement, all
stock options that are not exercisable as of the date of your Retirement shall
continue to vest according to the schedule set forth in Paragraph 2 and all
stock options shall remain exercisable until the Exp. Date; provided, however,
that if after reaching Retirement you become directly or indirectly employed by
a Competitor, all unvested options shall immediately lapse.  “Retirement” means employment termination
upon attainment of age 60 with at least five (5) years of continuous service
with the Company and its subsidiaries.  “Competitor”
means any company or entity engaged in any way in a business that competes
directly or indirectly with the Company, its parents, subsidiaries, affiliates
or related entities.  Upon your death or the
termination of your employment by reason of permanent and total disability, all
Option shares shall immediately become fully exercisable as of the date of death
or termination and shall lapse unless exercised within a period of one (1) year
from the date of death or termination. 
In no event shall the above time periods extend beyond the Exp.
Date.  In the event of Discharge for
Cause, all Option shares, whether presently exercisable or not, shall
immediately lapse and become null and void on and as of the date of
termination.  “Discharge for Cause” means
the termination from employment because of an event involving moral turpitude
or dishonesty, a gross failure or negligence on your part in performing your
expected duties, a violation of the Company’s substance abuse policies, or a
willful misconduct or action by you that is damaging or detrimental to the
Company.  A determination by the Company
that a termination is a Discharge for Cause will be conclusive and binding.

4.   All unvested options shall vest immediately
upon a Change of Control and shall remain exercisable until the Exp. Date.  For purposes of this paragraph 4, “Change in
Control” means the
occurrence of a change in control of a nature that would be required to be
reported in response to Item 6(e) of Schedule 14A of Regulation 14A under the
Securities Exchange Act of 1934 (“1934 Act”) as in effect at the time of such
change in control, provided that such a change in control shall be deemed to
have occurred at such time as (i) any “person” (as that term is used in
Sections 13(d) and 14(d) (2) of the 1934 Act), is or becomes the “beneficial
owner,” directly or indirectly, of securities representing 50% or more of the
combined voting power for election of directors of the then outstanding
securities of the Company or any successor of the Company; (ii) during any
period of two (2) consecutive years or less, individuals who at the beginning
of such period constituted the Board cease, for any reason, to constitute at
least a majority of the Board, unless the election or nomination for election
of each new director was approved by a vote of at least two-thirds of the
directors then still in office who were directors at the beginning of the
period or whose election or nomination for election was so approved; (iii) the
consummation of any merger or consolidation, approved by the stockholders of
the Company, as a result of which the common stock of the Company shall be
changed, converted or exchanged (other than a merger with a wholly owned
subsidiary of the Company) or of any sale or other disposition in one or a
series of related transactions of 50% or more of the assets or earning power of
the Company, or the approval by stockholders of any liquidation of the Company;
or (iv) the consummation of any merger or consolidation, approved by the
stockholders of the Company, to which the Company is a party as a result of
which the persons who were stockholders of the Company immediately prior to the
effective date of the merger or consolidation shall have beneficial ownership
of less than 50% of the combined voting power for election of directors of the
surviving corporation following the effective date of such merger or
consolidation.

5.   The exercisable portion of the Option may be
exercised in whole or in part but in no event with respect to a fractional
share from time to time until the Exp. Date. 
Exercise shall be by notice of exercise to the Company, specifying the
number of shares to be purchased, the Option Price of each share and the aggregate
Option Price for all shares being purchased under said notice.  The notice shall be accompanied by payment of
the aggregate Option Price for the number of shares purchased and any
applicable withholding taxes.  Such
exercise (subject to Paragraph 6 hereof) shall be effective upon the actual
receipt of such payment and notice to the Company.  The aggregate Option Price for all shares
purchased pursuant to an exercise of the Option shall be paid by check payable
to the order of the Company, shares of Common Stock of the Company held by you
for at least six (6) months, the fair market value of which at the time of such
exercise is equal to the aggregate Option Price (or portion thereof to be paid
with previously owned Common Stock). 
Payment of the Option Price in shares of Common Stock shall be made by
delivering properly endorsed stock certificates to the Company or otherwise
causing such Common Stock to be transferred to the account of the Company,
either physically or through attestation. 
In addition, the aggregate Option Price for all shares purchased
pursuant to an exercise of the Option may be paid from the proceeds of sale
through a bank or broker on the date of exercise of some or all of the shares
to which the exercise relates.  There
shall be furnished with each notice of the exercise of any portion of the
Option such documents as the Company in its discretion may deem necessary to
assure compliance with applicable rules and regulations of any stock exchange
or governmental authority.  No rights or
privileges of a stockholder of the Company in respect to such shares issuable
upon the exercise of any part of the Option shall accrue to you unless and
until certificates representing such shares have been registered in your name.

6.   The Option shall not be exercised in whole
or in part and no related share certificates shall be delivered in the sole
discretion of the Company:  (a) if such
exercise or delivery would constitute a violation of any provision of, or any
regulation or order entered pursuant to, any law purporting to regulate wages,
salaries or compensation; or (b) if any requisite approval, consent,
registration or other qualification of any stock exchange upon which the
securities of the Company may then be listed, the Securities and Exchange
Commission or other governmental authority having jurisdiction over the
exercise of the Option or the issuance of shares pursuant thereto, shall not
have been secured.

7.   Except as otherwise provided in the Plan,
the Option shall not be sold, pledged, assigned, hypothecated, transferred or
disposed of in any manner, other than by will or under the laws of descent and
distribution, whether by the operation of law or otherwise.  An option may be exercised, during your
lifetime, only by you or your legal representative.  Upon any attempt to do anything prohibited by
this paragraph, the Option shall immediately become null and void.

8.   Nothing herein contained
shall constitute an obligation for continued employment.

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