Document:

Exhibit
10.2

	
  Lehman Brothers Holdings Inc. 

  Lehman Brothers Commercial Bank 

  Lehman Commercial Paper Inc. 

  Lehman Brothers Inc. 

  745 Seventh Avenue 

  New York, New York 10019

  	
   

  	
  Merrill Lynch Capital Corporation 

  Merrill Lynch, Pierce, Fenner & Smith Incorporated 

  4 World Financial Center 

  North Tower 

  250 Vesey Street 

  New York, New York  10080

  

August 10, 2007

AMENDMENT
NO. 1 TO

COMMITMENT LETTER

PERSONAL AND CONFIDENTIAL

The Home
Depot, Inc.

2455 Paces Ferry Road N.W.

Atlanta, Georgia  30339

Attention:              Carol
B. Tomé

Chief Financial Officer
and

Executive Vice
President-Corporate Services

Ladies and Gentlemen:

Reference is made to that
certain commitment letter agreement (together with all exhibits and schedules
hereto, the “Commitment Letter”)
dated July 9, 2007 by and among Lehman Brothers Commercial Bank
(together with its designated affiliates, “LBCB”),
Lehman Brothers Holdings Inc. (together with its designated affiliates, “LBHI”), Lehman Commercial Paper Inc.
(“LCPI” and together with LBCB and
LBHI, the “Lehman Lenders”), Lehman
Brothers Inc. (“Lehman Brothers”
and together with the Lehman Lenders, “Lehman”),
Merrill Lynch Capital Corporation (“MLCC”) and
Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPF&S”
and together with MLCC, “Merrill Lynch”),
The Home Depot, Inc., a Delaware corporation (the “Company”), in connection with the Offer to
Purchase (as amended on or about the date hereof) and to provide support for
the issuance by the Company of commercial paper in connection with such Share
Repurchase.  Defined terms not otherwise
defined herein shall have the meaning set forth in the Commitment Letter.

This letter (the “Amendment”) hereby amends the
Commitment Letter to remove paragraph (f) on Exhibit B and replace it with the
following:

“(f)          The Company’s corporate
credit ratings shall on the Closing Date be BBB+ or better by S&P and Baa1
or better by Moody’s, and in each case neither ratings organization shall have
announced a reduction to a rating below BBB+ or Baa1, as the case may be.”

Except as set forth above, this amendment does not
supersede, replace, amend or otherwise modify the Commitment Letter or the
commitments or obligations of the parties thereto in any respect.

If you are in agreement with the foregoing, kindly
sign and return to us the enclosed copy of this Amendment.

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  LEHMAN BROTHERS HOLDINGS INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Frank P. Turner

  	
   

  
	
   

  	
  Name: Frank
  P. Turner

  
	
   

  	
  Title:   Vice
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LEHMAN BROTHERS
  COMMERCIAL BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brian McNany

  	
   

  
	
   

  	
  Name: Brian
  McNany

  
	
   

  	
  Title:   Authorized
  Signatory

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LEHMAN
  COMMERCIAL PAPER INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Frank P. Turner

  	
   

  
	
   

  	
  Name: Frank
  P. Turner

  
	
   

  	
  Title:   Vice
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LEHMAN BROTHERS
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Frank P. Turner

  	
   

  
	
   

  	
  Name: Frank
  P. Turner

  
	
   

  	
  Title:   Vice
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MERRILL LYNCH
  CAPITAL CORPORATION.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John C. Rowland

  	
   

  
	
   

  	
  Name: John
  C. Rowland

  
	
   

  	
  Title:   Vice
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MERRILL LYNCH,
  PIERCE, FENNER & SMITH

  INCORPORATED

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John C. Rowland

  	
   

  
	
   

  	
  Name: John
  C. Rowland

  
	
   

  	
  Title:   Vice
  President

  
	
   

  	
   

  

 

[Signature Page to
Amendment]

Accepted and agreed to as of the

date first above written:

THE HOME DEPOT, INC.

	
  By:

  	
  /s/ Carol B. Tomé

  	
   

  
	
   Name: Carol
  B. Tomé

  	
   

  
	
   Title:   Chief
  Financial Officer and

  	
   

  
	
               Executive
  Vice President-Corporate Services

  	
   

  
				

 

[Signature Page to
Amendment]Exhibit
10.3

May 24, 2007

Mr. Joseph J. DeAngelo

2455 Paces Ferry Road

Atlanta, Georgia  30339

Dear Joe:

As you are aware, The Home Depot, Inc. (the “Company”) is exploring strategic
alternatives with respect to HD Supply, Inc. and its subsidiaries, (“HDS,” which for purposes of this Agreement shall include its
successors as provided in Section 14 hereof) and the businesses comprising the HDS financial reporting segment (together
with HDS, the “HDS Business Segment”).  As you know, such alternatives include the
possibility of a sale of the HDS Business Segment to a third party (any sale to a third party of the
companies/business divisions comprising the HDS Business Segment having
aggregate annualized
sales (as set forth in the HDS business plan for Fiscal 2007) of at least 70% of the aggregate annualized sales of the HDS Business Segment (as set
forth in HDS business plan for Fiscal 2007), a “Sale,” it being
understood that neither an initial public offering of some or all of the HDS
Business Segment nor a spin-off to the Company’s shareholders of some or all of
the companies/business divisions comprising the HDS Business Segment shall
constitute a Sale).  The Company wishes
to ensure your continued service and dedication as it explores alternatives for
the HDS Business Segment.  This
letter agreement (this “Agreement”)
memorializes certain compensation terms that will apply upon and following a
Sale.  Prior to the effective date of the
consummation of a Sale (the closing date of any Sale, “Closing
Date”), the terms of the letter agreement between you and the
Company dated January 23, 2007 (“Current
Agreement”) shall continue to apply.

1.             Effective
Date.  Subject to Section 7, this
Agreement shall be effective as of the date hereof; provided, however,
that the provisions hereunder shall not be operative (a) unless and until the
Closing Date of a Sale has occurred (prior to the date on which this Agreement
expires) or (b) if you do not continue to be employed by the Company through
the Closing Date.  Upon the Closing Date
of a Sale, this Agreement shall supersede in its entirety the Current
Agreement, which shall be without further force or effect.  This Agreement will expire on the earlier
of:  (i) the date the Company announces
its intention to forego a Sale of the HDS Business Segment, and (ii) the last
day of the Company’s 2007 fiscal year, if no Sale has occurred by such date (provided that if a definitive agreement
providing for a Sale has been executed prior to such last day but the Closing
Date has not yet occurred (other than due to a subsequent termination of any
such definitive agreement)), the reference herein to such last day shall be
deemed to refer to June 30, 2008).

2.             Employment
Termination.  Your employment with
the Company will terminate on the Closing Date, simultaneous with the time that
this Agreement supersedes the Current Agreement.  For purposes of clarity, it is understood
that such termination of your employment with the Company will not be deemed to
be an involuntary termination of employment for purposes of the final paragraph
of page 2 (relating to involuntary termination), or a termination by the
Company for cause or by you for good reason, as contemplated by page 3, of the
Current Agreement.

3.             Accelerated
Vesting Benefit.  In the event of a
Sale, subject to your continued employment through the Closing Date, all stock
options to acquire Company common stock and restricted shares of Company common
stock that are outstanding as of the Closing Date and that were granted to you
prior to January 1, 2007 will vest (the accelerated vesting provided by this
sentence, the “Accelerated Vesting
Benefit”).  For purposes
of the preceding sentence, the award of 24,283 shares of restricted stock
granted to you on February 22, 2007 but approved during the preceding fiscal
year shall be deemed to have been granted prior to January 1, 2007.  Notwithstanding anything herein to the
contrary, the Accelerated Vesting Benefit is subject to your execution of a
release of claims against the Company and its respective affiliates in a form
satisfactory to the Company substantially in the form set forth on Exhibit A
hereto (a “Release”).

4.             Retention Bonus; Transaction
Bonus.

(a)  The Retention Bonus.  In the event of a Sale, you will, subject to
your continued employment with HDS (or the purchaser thereof) through the
earlier of (x) the first anniversary of the Closing Date and (y) December 1,
2008 (such earlier date, the “Retention Bonus Vesting
Date”), receive a cash retention payment (the “Retention Bonus”).  The amount of the Retention Bonus shall equal
the product of (i) the average closing stock price of the Company’s common
stock over the 30 trading days immediately preceding the Closing Date (the “Average Closing Stock Price”)
multiplied by (ii) 107,285.  The
Retention Bonus shall be paid to you by HDS as soon as administratively
practicable following the Retention Bonus Vesting Date but in no event later
than December 31, 2008, subject to your continued employment through the
Retention Bonus Vesting Date (except as otherwise provided in Section 

4(c) below).

(b)           The Transaction Bonus
Amount.  In the event of a
Sale, you will, subject to your continued employment with HDS through the
Retention Bonus Vesting Date, receive a transaction bonus payment from HDS. The
“Transaction Bonus Amount” shall be
a cash payment in an amount determined based on the satisfaction of performance
goals related to a Sale, in each case to be determined and communicated to you
in writing by the Leadership and Development and Compensation Committee of the
Company’s Board of Directors (which communication will also set forth the
timing of payment of the Transaction Bonus Amount).

(c)           Termination of Employment
in Connection with a Sale.  If
following the Closing Date you are involuntarily terminated by HDS without
Cause or as a result of your disability or you resign from HDS for Good Reason
or die following the Closing Date but prior to the Retention Bonus Vesting Date
(each, a “Qualifying Termination”), you
will receive the Retention Bonus from HDS at the time set forth in Section 4(a)
above.  With respect to the 

Transaction Bonus
Amount, upon a Qualifying Termination prior to the Retention Bonus Vesting
Date, you will continue to be entitled to the payment of the Transaction Bonus
Amount at the times and in the amounts communicated to you in accordance with
Section 4(b) above.

(d)           Notwithstanding anything herein to
the contrary, the payment of the Retention Bonus and any portion of the
Transaction Bonus Amount is subject to your execution of a Release.

(e)           Definitions.  For purposes of this Agreement:

“Cause” shall mean the occurrence of one
of the following events following the Closing Date:  (i) conviction of any felony involving theft
or moral turpitude, (ii) conduct that constitutes willful gross neglect or
willful gross misconduct with respect to your employment duties which results
in material economic harm to HDS, or (iii) willful conduct that constitutes a
material violation of HDS’s substance abuse, compliance or any other policies
applicable to you, which may be in effect at the time of the occurrence.

“Good Reason” shall mean the occurrence
of one of the following events following the Closing Date without your prior
written consent:  (i) HDS decreases your
base salary and target annual cash bonus opportunity (it being understood that
the actual metrics and achievement levels are to be determined by HDS in its
discretion, but shall in good faith be designed to offer you a reasonable
opportunity to achieve target levels of achievement), in the aggregate, below
your aggregate base salary and target annual cash bonus opportunity (exclusive
of any bonuses payable hereunder) in effect on the Closing Date, (ii) you are
not covered by a severance plan or agreement that provides a benefit of at
least 24 months’ base salary (at a rate no lower than your base salary on the
date hereof) continuation upon a termination by HDS without Cause, (iii) you
are removed as chief executive officer (or its equivalent) of HDS (it being
understood that the divestiture by a purchaser of, or transfer from you of
control over, portions of the HDS Business Segment shall not constitute such a
removal, so long as you continue to be chief executive officer (or its
equivalent) with respect to more than 50% (based on aggregate annualized sales)
of the HDS Business Segment), or (iv) your principal place of employment is
relocated to a location that is not within either the Atlanta, Georgia or
Orlando, Florida metropolitan areas.

5.             Severance
in Connection with a Sale.  In the
event of a Sale, if both of the following occur: (a) HDS (or the purchaser
thereof) offers you (or offers to continue your) employment only on terms that
would result in you being able to terminate for Good Reason and (b) you are not
employed by HDS as of immediately following the Closing Date, subject to your
execution of a Release, (i) you will receive the Accelerated Vesting Benefit
set forth in Section 3, (ii) HDS will pay you the Retention Bonus at the time
set forth in Section 4(a) above, (iii) HDS will pay you the Transaction Bonus
Amount at the times and in the amounts set forth in Section 4(b) above, and
(iv) HDS will pay you 24 months of base salary continuation, payable subject to
Section 12 in equal installments in accordance with HDS’s normal payroll
practices.  Notwithstanding anything
contained herein, in no event will you be entitled to duplicate payments under
this Agreement.

6.             Vested Equity and Sale.  All of your stock options to acquire Company
common stock that are vested as of the Closing Date (included any stock options
that accelerated pursuant to Section 3) will be forfeited if not exercised
within 90 days of the Closing Date, and all of your unvested equity (i.e.,
stock options, restricted stock, and performance shares) shall be forfeited and
cancelled immediately as of such Closing Date.

7.             Incentive Awards.  You hereby agree that, to the extent not
previously earned and vested prior to the Closing Date, your Fiscal 2005-2007
and Fiscal 2006-2008 LTIP awards shall be forfeited and cancelled effective as
of the Closing Date. If a definitive agreement providing for a Sale is executed
prior to the last day of the 2007 fiscal year, your bonus for such year shall
be determined as follows: Subject to your continued employment through the end
of such year (or, if earlier, the Closing Date), you will be paid by the
Company, on the date annual bonuses are distributed to Company employees
generally, a bonus based on actual HDS performance (but disregarding any
unbudgeted special charges related to the Company’s discontinuance of
operations determined in accordance with GAAP) relative to the targets
referenced in the next sentence, which bonus amount shall be determined by the
Company in good faith in its sole discretion.  The performance goals for
the fiscal year 2007 bonus are the monthly EBIT targets set forth on Schedule A hereto.  Such bonus will, if the Closing Date occurs
prior to the end of the 2007 fiscal year, be prorated based on the actual
number of days in such fiscal year before the Closing Date, and determined by
comparing performance through the last full month prior to the Closing Date to
the year-to-date performance goal referenced in the preceding sentence as of
such last full month.  Such bonus (whether or not
prorated) will be based 100% on achievement of the foregoing financial targets
and will have no discretionary portion based on individual performance.  The provisions of this Section 7 shall become
effective upon the execution prior to the last day of the 2007 fiscal year of a
definitive agreement providing for a Sale, and shall at such time supersede any
previous Company actions, or communications to you, in respect of annual bonus
for the 2007 fiscal year.

8.             At-Will Employment.  Both you and the Company have the absolute
power to terminate your employment at any time for any reason, notwithstanding
any other obligation under this Agreement. 
This Agreement should not be construed, nor is it intended to be, a
contract of employment for a specified period of time.

9.             Confidential Information and
Trade Secrets.

(a)           You
acknowledge that through your employment you have acquired and had access to,
and will continue to acquire and have access to, the Company’s Confidential
Information and that through your employment with HDS you have acquired and had
access to, and will continue to acquire and have access to, the Confidential
Information of HDS. You acknowledge and agree that you will not publish,
disclose or use any Confidential Information, except in connection with the good
faith performance of your duties for the Company and HDS, provided that following a Sale, you will not be able to
publish, disclose or use the Confidential Information of the Company for any
purpose, except that you may comply with legal process and governmental inquiry
and you shall not be prevented from using Confidential Information of the HDS
Business Segment (even if they overlap with those of the Company) while you are
employed by HDS (or the purchaser thereof). 
Further, any claims of violation of these 

provisions with regard to HDS Confidential Information shall be that of
HDS and not of the Company.  You agree
that, during your employment and thereafter, you will hold in confidence all
Confidential Information and will not, except as provided above disclose,
publish or make use of such Confidential Information, unless compelled by law,
it being agreed that you will promptly notify the Company or HDS (as
applicable) upon becoming aware that you may be so compelled by law to
disclose, publish or make use of such Confidential Information.  You further agree to return all documents,
disks or any other item or source containing Confidential Information, or any
other Company or HDS property (as applicable), to the Company or HDS (as
applicable) on or before your termination date from the applicable entity,
provided that you may retain and use the contact information in your address
books.  “Confidential Information” shall
include any data or information, other than trade secrets, that is valuable to
the Company or HDS (as applicable) or any of their respective affiliates, and
not generally known to competitors of the Company or HDS (as applicable) or
other outsiders, regardless of whether the confidential information is in
printed, written, or electronic form, retained in your memory, or has been
compiled or created by you.  This
includes, but is not limited to: 
technical, financial, personnel, staffing, payroll, computer systems,
marketing, advertising, merchandising, operations, strategic planning, product,
vendor, customer or store planning data, trade secrets or other information
similar to the foregoing.

(b)           You also
acknowledge that through your employment you have acquired and had access to,
and will continue to acquire and have access to, the Company’s Trade Secrets
and those of HDS.  You further
acknowledge that the Company and HDS have made reasonable efforts under the
circumstances to maintain the secrecy of their Trade Secrets.  You agree to hold in confidence all Trade
Secrets of the Company and HDS (as applicable) that come into your knowledge
during your employment with either the Company or HDS (as applicable) and you
shall not disclose, publish or make use of at any time such Trade Secrets for
so long as the information remains a Trade Secret, except in the good faith
performance of your duties.  Following a
Sale, you will not be able to disclose, publish or make use of the Trade
Secrets of the Company for any purpose, provided
that the foregoing shall not prevent you from using the Trade Secrets of the
HDS Business Segment (even if they overlap with those of the Company) while you
are employed by HDS (or the purchaser thereof) provided you may comply with
legal process and governmental inquiry, and any claim of violation of these
provisions with regard to HDS trade secrets shall be that of HDS and not of the
Company.  “Trade
Secret” means information, without regard to form, including,
but not limited to, any technical or non-technical data, formula, pattern,
compilation, program, device, method, technique, drawing, process, financial
data, financial plans, strategic plans, product plans or list of actual or
potential customers or suppliers which is not commonly known by or available to
the public and which information:  (i)
derives economic value, actual or potential, from not being generally known to,
and not being readily ascertainable by proper means by, other persons who can
derive economic value from its disclosure or use and (ii) is the subject of
efforts that are reasonable under the circumstances to maintain its secrecy.

10.           Non-Competition and
Non-Solicitation.

(a)           Subject
to Section 10(c), you agree that you will not, while employed by the Company or
HDS (as applicable) or any of their respective affiliates, and (i) with respect
to the Company, for two years following the 
Closing Date, and (ii) with respect to HDS, for two years following your
termination of employment with HDS and its affiliates (which shall include a
termination of employment in the event HDS does not offer you, or offer to
continue your, employment), enter into or maintain an employment, contractual
or other relationship, either directly or indirectly, to provide executive,
managerial, consulting or finance services to any company or entity engaged in
any way in a business that materially competes (in any market or location),
directly or indirectly, (A) as this provision relates to the Company, in the
home improvement retail and professional supply industries with the Company or
any of its affiliates in the United States, Canada, Puerto Rico, Mexico, China
or any other location in which they currently conduct business or plan to
conduct business prior to the end of the applicable above-referenced two-year
period or (B) as this provision relates to HDS, in the industrial wholesale
construction industry with HDS or any of its affiliates in the United States,
Canada, Puerto Rico, Mexico, China or any other location in which they
currently conduct business or plan to conduct business prior to the end of the
applicable above-referenced two-year period, in each case without the prior
written consent of the Company and/or HDS (as applicable), which may be
approved or denied in the Company’s and/or HDS’s (as applicable) discretion.

(b)           You
agree that while employed by the Company or HDS (as applicable) or any of their
respective affiliates, and (i) as this provision relates to the Company, for
three years following the Closing Date, and (ii) as this provision relates to
HDS, for three years following your termination of employment with HDS or its
affiliates (which shall include a termination of employment in the event HDS
does not offer you, or offer to continue your, employment) (either period
referred to herein as the “Non-Solicit
Restricted Period”), you will not, directly or indirectly,
solicit (A) with respect to the Company, any person who is (or was during the
six-month period prior to such solicitation) an employee of the Company or its
affiliates (other than an employee of the HDS Business Segment as of
immediately prior to the consummation of a Sale) and (B) with respect to HDS,
any person who is an employee (or was during the six-month period prior to such
solicitation) of HDS or its affiliates as of immediately following the Closing
Date or thereafter, to terminate his or her relationship with the Company or
HDS (as applicable) or any of their respective affiliates. The
foregoing shall not be violated by general advertising that is not specifically
targeted at employees of the Company or HDS (as applicable).

(c)           The
Company acknowledges and agrees that during your period of employment with HDS
following a Sale, Section 10(a) shall not prohibit you from performing services
for HDS or shall apply to actions taken by you in the course of such
employment.  In the event your employment
with HDS terminates prior to the expiration of the applicable restricted period
as it relates to the Company under Section 10(a), the foregoing exception shall
not apply, and the Company shall be entitled to enforce the restrictions set
forth in Section 10(a) against you as those restrictions relate to the
businesses of the Company and of the HDS Business Segment as it existed on the
Closing Date.

(d)           The
Company, HDS and you acknowledge that the time, scope, geographic area and
other provisions of Sections 9 and 10 have been specifically negotiated by
sophisticated commercial parties and agree that all such provisions are
reasonable under the circumstances of 

the activities contemplated by this Agreement.  You acknowledge and agree that the terms of
Sections 9 and 10: (i) are reasonable in light of all of the
circumstances, (ii) are sufficiently limited to protect the legitimate
interests of the Company and HDS and their respective affiliates,
(iii) impose no undue hardship on you, (iv) are not injurious to the
public, (v) were a condition to the willingness of the Company and HDS to
provide the payments under this Agreement and (vi) were relied upon by the
Company and HDS in connection with pursuit of a Sale.  You further acknowledge and agree that
(A) your breach of the provisions of Section 9 or 10 will cause the
Company and HDS irreparable harm, which cannot be adequately compensated by
money damages, and (B) if the Company and/or HDS elects to prevent you
from breaching such provisions by obtaining an injunction against you, there is
a reasonable probability of the Company’s or HDS’s eventual success on the
merits.  You consent and agree that,
notwithstanding the provisions of Section 17, if you commit any such breach or
threaten to commit any breach, the Company and HDS (as applicable) shall be
entitled to temporary and permanent injunctive relief from a court of competent
jurisdiction, without posting any bond or other security and without the
necessity of proof of actual damage, in addition to, and not in lieu of, such
other remedies as may be available to the Company and HDS for such breach,
including the recovery of money damages. In the event that any provision of
Section 9 or 10 shall be determined by any court of competent jurisdiction to
be unenforceable by reason of such provision extending for too great a period
of time or over too great a geographical area or by reason of such provision
being too extensive in any other respect, such provision(s) shall be
interpreted to extend only over the maximum period of time for which they may
be enforceable and/or over the maximum geographical area as to which they may
be enforceable and/or to the maximum extent in all other respects as to which
they may be enforceable, all as determined by such court in such action.

(e)           You agree and understand that each of
the Company and HDS, as applicable, shall have the right to enforce the
provisions of Sections 9 and 10 against you.

11.           Tax Withholding.  Any payments provided for under this
Agreement shall be paid net of any applicable withholding tax required under
federal, state or local law and any additional withholding tax to which you
have agreed.

12.           Code Section 409A.  This Agreement is intended to satisfy the
requirements of Section
409A of the Internal Revenue Code of 1986, as amended (the “Code”), to the extent applicable,
and shall be construed accordingly. 
Notwithstanding the foregoing provisions of this Agreement, to the
extent that you are classified as a “specified employee” within the meaning of
Section 409A of the Code (with such classification to be determined in
accordance with the methodology established by the applicable employer), cash
severance amounts pursuant to Section 5(iv) that would otherwise be payable
under this Agreement during the six-month period immediately following your
termination of employment with the Company or HDS (as applicable) shall instead
be paid, on the first business day after the date that is six months following
your “separation from service” within the meaning of Section 409A of the
Code.  If any compensation provided by this Agreement may result in the
application of Section 409A of the Code, the Company (or following the Closing
Date, HDS) shall take any actions it deems necessary, including modifying the Agreement,
in order to exclude such compensation from the definition of “deferred
compensation” within the meaning of such Section 409A of the Code or 

to
comply with the provisions of Section 409A of the Code, but shall to the extent
possible maintain the same economic intent.

13.           Severability of Provisions.  In the event that any provision in this
Agreement is determined to be legally invalid or unenforceable by any court of
competent jurisdiction, and cannot be modified to be enforceable, the affected
provision shall be stricken from the Agreement, and the remaining terms of the
Agreement and its enforceability shall remain unaffected.

14.           Successors and Assigns.  HDS will require any successor (whether
direct or indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of HDS (including to
substantially all of the HDS Business Segment) to assume and agree in a writing
delivered to you to perform this Agreement in the same manner and to the same extent
that HDS would be required to perform it if no such succession had taken place
(but without duplication of payments), and you hereby consent to any such
assumption.  As used in this Agreement, “HDS” shall mean HDS as hereinbefore
defined and any successor to its business and/or assets (including to
substantially all of the HDS Business Segment).   The Company may at any time and from time to time assign
its rights and obligations hereunder to any of its subsidiaries or affiliates, provided that no such assignment shall
relieve the Company from its specific obligations hereunder or impair the
Company’s right to enforce this Agreement against you.  The obligations of the Company and HDS under
this Agreement are several, not joint.

15.           Entire Agreement.  This Agreement constitutes the entire
understanding between the parties and supersedes all prior agreements and
undertakings, except that, as set forth above, the Current Agreement shall
remain in effect until the Closing Date of a Sale.  The parties have not relied on any oral
statements that are not included in this Agreement.  Any amendment to this Agreement must be in
writing.

16.           Governing Law.  This Agreement shall be construed,
interpreted and applied in accordance with the law of the State of Delaware,
without giving effect to the choice of law provisions thereof.

17.           Arbitration.  Subject to Section 10(d), any dispute,
controversy or claim arising out of or related to this Agreement, including,
but not limited to, a claim for breach or an action for declaratory judgment
regarding the validity of this Agreement or any provision hereof (a “Claim”), shall be settled by final
and binding arbitration pursuant to the rules of the American Arbitration
Association.  Any such arbitration shall
be conducted by one arbitrator mutually acceptable to the parties, who has
substantial experience in the matters covered by this Agreement.  If the parties are unable to agree on the
arbitrator within thirty (30) days of one party’s giving the other party
written notice of intent to arbitrate, the American Arbitration Association
shall appoint an arbitrator with such qualifications to conduct such
arbitration.  The decision of the
arbitrator shall be conclusive and binding on the parties.  The arbitration shall be conducted in
Atlanta, Georgia or such other location to which the parties may agree.  The arbitrator shall have the authority to
determine the arbitrability of any Claim. 
The parties understand and agree that the arbitrator shall have the
authority to award any remedy or relief 

that a court of competent
jurisdiction could order or grant, including, without limitation, the issuance
of preliminary and permanent injunctive relief. 
Judgment upon the award rendered by the arbitrator may be entered in any
court having jurisdiction.  Except as
necessary in court proceedings to enforce this arbitration provision or an
award rendered hereunder, or to obtain interim relief, neither a party nor an
arbitrator may disclose the existence, content or results of any arbitration
hereunder without the prior written consent of the Company or HDS (as
applicable) except as may otherwise be required by law.  The losing party shall bear the reasonable
attorneys’ fees and expenses of both parties in the event of any dispute
governed by this Section 17 or by Section 10(d), provided that you shall not be liable for the fees and
expenses of the Company or HDS if the arbitrator finds that your overall
position was not frivolous and was advanced in good faith.

18.           Limitation of Actions.  Any arbitration or other claim with respect
to any benefit payable or other matter arising out or relating to this
Agreement must be formally initiated no later than one (1) year after the claim
arises or be forever barred.

19.           Advice of Counsel.  You acknowledge in executing this Agreement
that you have had the opportunity to seek the advice of independent legal
counsel and that you have read and understood all of the terms and provisions
of this Agreement.  This Agreement will
not be construed against any party by reason of the drafting or preparation
hereof.

To evidence and
confirm your agreement to all the terms and conditions set forth in this
Agreement, please execute and date the enclosed copy of this Agreement in the
space provided below.

	
  

  	
  THE HOME DEPOT, INC.

  
	
   

  	
   

  
	
   

  	
  /s/ Francis S.
  Blake

  	
   

  
	
   

  	
  Francis S. Blake

  
	
   

  	
  Chairman and
  Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
  HD
  SUPPLY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Carol B.
  Tomé

  	
   

  
	
   

  	
  Carol B. Tomé

  
	
   

  	
  Vice President
  and Treasurer

  
	
  ACCEPTED
  AND AGREED:

  	
   

  

 

	
  /s/ Joseph J. DeAngelo

  	
   

  	
  May 25, 2007

  	
   

  
	
  Joseph J.
  DeAngelo

  	
  Date

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