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Exhibit 10.49    
    

 
 

HOME DEPOT OF CANADA INC.
  NON-COMPETITION AGREEMENT    
    

        This Non-Competition Agreement (the "Agreement") is entered into as of the 10th day of May 2006, by and between Home Depot of
Canada Inc., a Canadian corporation (the "Company") and ANNETTE M. VERSCHUREN ("Executive"). 

W I T N E S S E T H:  

        WHEREAS, the Company desires to provide deferred shares and enhanced severance terms (individually and
collectively referred to as "enhancements") to Executive set forth herein; and 

        WHEREAS, in consideration for such enhancements, Executive agrees to be bound by the terms and conditions as set forth in this Agreement;
and 

        WHEREAS the Executive continues to be employed by the Company in Canada, has previously worked for Home Depot U.S.A., Inc. in the
United States of America, and has comprehensive knowledge of Home Depot's operations throughout North America; 

        WHEREAS, to further the interests of the Company and Executive, the parties hereto have set forth the terms of such benefits and
conditions in writing in the Agreement; 

        NOW, THEREFORE, for and in consideration of the enhancements and mutual promises herein contained, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 

        1.    Salary Continuation Payments.    

        (a)   In
the event Executive's employment with the Company is terminated involuntarily and without cause, Executive will receive as her full entitlement under contract,
statute and common law, twenty-four (24) months of base salary to be paid by installment via salary continuation and, group health, dental and life insurance benefit continuation
for twenty-four (24) months (said salary continuation and benefits hereinafter referred to as "payments"). Short and long term disability benefits will only extend during the
statutory notice period. Payments shall commence effective the first day Executive receives notice of termination and said payments will be subject to applicable taxes and withholdings in accordance
with the Company's normal payroll practices. The end of the salary continuation period will be Executive's last day of employment ("Termination Date"). During the period of salary continuation,
outstanding options will continue to vest and restrictions on outstanding restricted and deferred shares will continue to lapse in accordance with the terms the applicable plans related to such
options and shares. Executive will have ninety (90) days from the Termination Date to exercise any options that are vested as of the Termination Date. Upon receiving notice of termination,
Executive agrees to execute a general release in a form acceptable to the Company's legal counsel. 

        (b)   Executive
will not be entitled to receive these payments, and will forfeit all unvested restricted stock, deferred shares, stock options and other equity awards and Long
Term Incentive Program benefits (individually and collectively referred to as "Award Benefits"), in the event Executive voluntarily resigns from the Company but all other provisions of this Agreement
shall remain in effect. In the event of voluntary resignation, the effective date of the resignation shall be deemed the Termination Date for purposes of this Agreement. Executive agrees to provide
one month advance written notice of resignation. Upon receipt of such notice, the Company will have the sole discretion to waive same and Executive's resignation will be deemed to be effective the
date of such waiver with no further obligation owing to Executive by the Company, except as may be required by statute. Executive will be entitled to receive the payments set forth in
Paragraph 1(a) if Executive resigns for "good reason." "Good reason" means a decrease in Executive's base salary without Executive's consent. 

 

        (c)   Unless
otherwise required by statute, Executive will not be entitled to receive these payments, and will forfeit all unvested Award Benefits, in the event Executive is
unable to continue employment due to a death or disability; however, in such an event, Executive may be eligible for disability or death benefits under the Company employee benefit plans or programs
in which Executive then participates, pursuant to the terms and conditions of such plans and programs. In the event of a conflict between this paragraph 1(c) and the terms of plans under which
the Award Benefits are granted, the terms of the applicable plan shall govern. 

        (d)   Executive
will not be entitled to receive these payments, or any other type of payment or benefit, and will forfeit all unvested Award Benefits, if Executive is
terminated "for cause." For purposes of this Agreement the date the Executive is terminated for cause will be deemed the "Termination Date." All other provisions of this Agreement shall remain in
effect. For purposes of this Agreement, "for cause" shall mean: 

	(i)
	A
Criminal Conviction, or a finding of guilt by a Canadian securities agency, involving theft, moral turpitude or dishonesty;

	(ii)
	Conduct
that constitutes willful neglect or willful misconduct with respect to Executive's employment duties which results in material economic harm to the Company or
its affiliates; or

	(iii)
	Willful
conduct or neglect that constitutes a material violation of the Company's mutual attraction policy, substance abuse policy, Code of Conduct, or compliance
policies (each as shall be in place from time to time). For purposes of determining whether conduct constitutes willful conduct or willful neglect, no act or omission on Executive's part shall be
considered "willful" unless it is done in bad faith and without reasonable belief that Executive's action or inaction was in the best interests of the Company and its affiliates. 

To
the extent that any Company plan or program has a different definition of "for cause," such definition shall control for purposes of benefits or entitlements under such plan or program. 

        2.    Non-Competition and Non-Solicitation.    

        (a)   The
Executive agrees that Executive will not, for a period of twenty-four (24) months subsequent to the earlier of either (i) the beginning of
the salary continuation period referenced in Paragraph 1(a), or (ii) the Executive's Termination Date, enter into or maintain an employment, contractual, or other relationship, either
directly or indirectly, to provide executive, managerial, or
operations services in the same or similar manner as Executive did for the Company or for Home Depot U.S.A., Inc. ("Home Depot") to 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, in the United States, Canada, Puerto Rico, Mexico, China or any other location in which the
Company currently conducts business or may conduct business prior to the end of the above-referenced twenty-four month period, without the prior written consent of the Executive Vice
President, Human Resources of the Company. Businesses that compete with the Company and/or Home Depot specifically include, but are not limited to, the following entities and each of their
subsidiaries, affiliates, assigns, franchisees, or successors in interest: Lowe's Companies, Inc. (including, but not limited to, Eagle Hardware and Garden); Sears Holding Corp. (including, but
not limited to, Orchard Supply and Hardware Company); Wal-Mart; Rona Inc.; Castorama/B&Q; Kent; Canadian Tire; Ace Hardware; True Value Company; and Menard, Inc. 

        (b)   In
the event the Executive wishes to enter into any relationship or employment prior to the end of the period referenced in Paragraph 2(a) which would be covered
by the above non-compete provision, Executive agrees to request written permission from the Executive Vice President, Human Resources of Home Depot prior to entering any such relationship
or 

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employment.
The Company may approve or not approve of the relationship or employment at its absolute discretion. 

        (c)   The
Executive agrees that for a period of thirty-six (36) months subsequent to the earlier of either (i) the beginning of the salary
continuation period referenced in Paragraph 1(a), or (ii) the Executive's Termination Date, she will not directly or indirectly solicit any person who is an employee of the Company (or
Home Depot) to terminate his or her relationship with the Company (or with Home Depot) without prior written approval from the Executive Vice President, Human Resources of Home Depot. 

        (d)   In
the event the Executive breaches the terms of Paragraphs 2 (a), 2(c) or 3 of this Agreement, the Company shall, from the date of such breach, cease payments
and benefit continuation under paragraph 1(a) and will no longer be liable for any salary continuation payments or benefits (including restricted stock, deferred shares and stock option
vesting) which would otherwise have been payable or due under this Agreement and the Executive shall forfeit all unvested Award Benefits. Without limiting the Company's right to its damages in full or
to any other remedy to which it may be entitled, the Executive hereby irrevocably directs the Company to retain any and all of such salary continuation payments and benefits on account of damages for
such breach. 

        3.    Confidential Information and Trade Secrets.    

        (a)   The
Executive acknowledges that through her employment with the Company and with Home Depot U.S.A., Inc. (referred to collectively as the "Company" for purposes
of this Paragraph 3) she has acquired and had access to the Company's Confidential Information. Executive further acknowledges that she has not published, disclosed or used any of the Company's
Confidential Information except in accordance with her duties for the Company. The Executive agrees that, for a period of three years after the Termination Date, she will hold in confidence all
Confidential Information of the Company and will not disclose, publish or make use of such Confidential Information, unless compelled by law and then only after Notice to the Executive Vice President,
Human Resources of the Company. Executive further agrees to return all documents, disks, or any other item or source containing Confidential Information, or any other Company property, to the Company
on or before the Termination Date. If the Executive has any question regarding what data or information would be considered by the Company to be Confidential Information, the Executive agrees to
contact the Executive Vice President, Human Resources for written clarification. "Confidential Information" shall include any data or information, other than trade secrets, that is valuable to the
Company and not generally known to competitors of the Company or other outsiders, regardless of whether the confidential information is in printed, written, or electronic form, retained in the
Executive's memory, or has been compiled or created by the Executive. 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)   The
Executive also acknowledges that through her employment with the Company she has acquired and had access to the Company's Trade Secrets. The Executive further
acknowledges that the Company has made reasonable efforts under the circumstances to maintain the secrecy of its Trade Secrets. Executive agrees to hold in confidence all Trade Secrets of the Company
that came into her knowledge during employment by the Company and shall not disclose, publish, or make use of at any time such Trade Secrets for so long as the information remains a Trade Secret.
"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 

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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. 

        4.    Miscellaneous.    

        (a)   Severability.    If any term, provision, covenant or restriction contained in the Agreement is held by a court
or a regulatory agency of competent jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions contained in the Agreement shall remain in
full force and effect, and shall in no way be affected, impaired or invalidated. 

        (b)   Controlling Law.    Executive and the Company agree that, in light of the Executive having been employed in two
different jurisdictions, for purposes of certainty, that the law of Ontario shall govern except with respect to breaches by the Executive of paragraphs 2 or 3 of this Agreement that occur
outside of Canada. In the event of a breach by the Executive of paragraphs 2 or 3 of this Agreement that occurs outside of Canada, it is the parties desire that 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. Executive and the Company hereby irrevocably
submit to the exclusive jurisdiction of the courts of Delaware. Executive and the Company also both irrevocably waive, to the fullest extent permitted by applicable law, any objection either may now
or hereafter have to the laying of venue of any such dispute brought in such court or any defense of inconvenient forum for the maintenance of such dispute, and both parties agree to accept service of
legal process in Delaware. Despite the foregoing, Executive acknowledges that the Company may suffer loss and damage which cannot be adequately determined or compensated by monetary compensation as a
result of any breach by Executive of any provision of this Agreement and, accordingly, Executive agrees that any breach or threatened or anticipated breach of Section 2 or Section 3 of
this Agreement outside of Canada may still be the proper subject of an injunction in a Canadian court and if such injunctive relief is sought by the Company, Executive shall consent to the
jurisdiction of the Canadian courts. Furthermore, Executive agrees that the Company may seek enforcement in a Canadian court of any United States judgement obtained pursuant to this Agreement and
Executive agrees not to raise any objection to the Company seeking enforcement of said judgement in a Canadian court 

        (c)   Construction.    The Agreement contains the entire understanding between the parties and supersedes any prior
understanding and agreements between them representing the subject matter hereof. This Agreement supplements the Offer Letter to Executive dated February 15, 1996 ("Offer Letter") and the
Memorandum to Executive dated April 7, 2003 ("Memorandum"). To the extent there is any inconsistency between the terms of this Agreement and the terms of the Offer Letter or Memorandum, the
terms of this Agreement shall control. There are no representations, agreements, arrangements or understandings, oral or written, between and among the parties hereto relating to the subject matter
hereof which are not fully expressed herein. Any modifications to this Agreement must be in writing and signed by the Executive and an authorized executive of the Company. 

        (d)   Canadian Statutory Rights.    Solely as it relates to Executive's employment in Canada, this Agreement is
intended to be in compliance with the requirements of Ontario Employment Standards Act, 2000. Should the employment standards legislation in Ontario provide a greater entitlement than outlined in this
Agreement, then such greater entitlement shall prevail over the above and will be applied under this Agreement and will constitute Executive's full entitlement under contract and common law. 

        (e)   Headings.    Section and other headings contained in the Agreement are for reference purposes only and are in
no way intended to describe, interpret, define or limit the scope, extent or intent of the Agreement or any provision hereof. 

[SIGNATURES
APPEAR ON FOLLOWING PAGE] 

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

	 	 	HOME DEPOT OF CANADA INC.
	

 	
 	

/s/ Robert L. Nardelli

	 	 	By:	 	Robert L. Nardelli

President and CEO
	

 	
 	

EXECUTIVE:
	

 	
 	

/s/ Annette M. Verschuren

	 	 	By:	 	Annette M. Verschuren

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Exhibit 10.49

HOME DEPOT OF CANADA INC. NON-COMPETITION AGREEMENTQuickLinks
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Exhibit 10.50    
    

 
  SEPARATION AGREEMENT & RELEASE    
    

        This is an Agreement between Home Depot U.S.A., Inc. (hereinafter "Home Depot" or the "Company") and Roger Adams (the "Executive"). 

        WHEREAS, the Company and the Executive intend the terms and conditions of this Agreement to govern all issues related to the Executive's
employment and termination from the Company and is intended to supersede and replace the provisions set forth in any of his employment letters; and 

        WHEREAS, the Executive acknowledges that he has been given a reasonable period of time, up to and including twenty-one
(21) days, to consider the terms of this Agreement; and, 

        WHEREAS, the Company advises the Executive to consult with a lawyer before signing this Agreement; and, 

        WHEREAS, the Executive acknowledges that the consideration provided him under this Agreement is sufficient to support the releases
provided by him under this Agreement; and, 

        WHEREAS, the Executive represents that he has not filed any charges, claims or lawsuits against the Company involving any aspect of his
employment which have not been terminated as of the date of this Agreement; and, 

        WHEREAS, the Executive understands that the Company regards the representations by him as material and that the Company is relying on
these representations in entering into this Agreement, 

        NOW, THEREFORE, the Company and the Executive agree as follows: 

        1.    Employment Status and Termination Date.    Executive's last day of employment shall be October 31, 2007
("Termination Date"). 

        2.    Separation Payments.    Executive shall receive a payment of $225,000, subject to applicable tax withholding, on
May 1, 2008. Executive shall receive eighteen (18) monthly separation payments of $37,500, subject to applicable tax withholding, from May 1, 2008 through November 1, 2009. 

        3.    Bonuses.    Executive will not be eligible to participate in the Management Incentive Plan ("MIP") or Long Term
Incentive Program ("LTIP") for Fiscal Year 2007 or beyond, and Executive will not be eligible to receive payments under any of the current LTIP cycles. Executive will not be eligible for bonus
payments of any other kind. 

        4.    Benefits.    Executive's benefits (including the executive life insurance and leased car programs) shall end on
the Termination Date, pursuant to the terms of such plans and applicable law. Executive shall receive a monthly payment, in an amount to be determined by the Company, as a partial off-set
for his health care costs. Executive shall receive these monthly payments from November 1, 2007 through the earlier of either (a) November 1, 2009, or (b) Employee's
acceptance of other employment with health care eligibility. The Executive will be eligible to continue to participate in the Supplemental Executive Choice Program, except for the retiree medical
plan, for calendar year 2007. 

        5.    Stock Options/Restricted Stock.    

	(a)
	All
of Executive's stock options that vest prior to the Termination Date must be exercised within 90 days of the Termination Date. Executive's 32,954 outstanding,
non-vested stock options that were scheduled to vest after the Termination Date but before November 1, 2010 will vest on the Termination Date. The 32,954 options may not be
exercised until the following dates: 6,250 options may be exercised as of February 24, 2008; 6,250 options may be exercised as of February 24, 2009; 7,102 options may be exercised as of
March 21, 2009; 6,250 options may be exercised as of February 24, 2010; and 7,102 options may be exercised as of March 21, 2010. All 

 

32,954
options must be exercised by January 29, 2011, subject to forfeiture for any earlier breach as provided in Paragraph 9. All other non-vested stock options shall be
forfeited on the Termination Date 

	(b)
	The
restrictions on 40,250 outstanding shares of restricted stock, originally scheduled to lapse after October 31, 2007, will lapse instead on the Termination Date. All other
shares of restricted stock shall be forfeited on the Termination Date. All 40,250 shares are subject to forfeiture for any earlier breach as provided in Paragraph 9.

	(c)
	The
Executive and Company acknowledge that the shares referenced in Paragraph 5(b) shall constitute taxable income to Executive at the time of vesting on the Termination Date;
and that the vested stock options referenced in Paragraph 5(a) shall be taxable to Executive when such options are exercised. Accordingly, Executive acknowledges his obligations to pay all
related applicable federal, state and local income and employment taxes, and that the Company is required to withhold applicable taxes with respect to these shares and vested options. Accordingly,
Executive hereby authorizes the Company to withhold a sufficient number of shares necessary to satisfy said withholding obligations.

	(d)
	Executive
shall not be eligible to receive any other equity-based awards.

	(e)
	Executive
is solely responsible for ensuring that his equity awards are properly credited, exercised and handled as provided by the terms of the awards as modified by this Agreement.
Executive acknowledges that he may not rely on the Merrill Lynch website in determining the exercise or expiration dates of his equity awards. Executive should direct any inquiries to the Atlanta
Branch of Merrill Lynch at 404-264-7274; however, the Company is not responsible for any incorrect information Executive might receive from Merrill Lynch. 

        6.    Release of Claims.    The Executive and his heirs, assigns, and agents release, waive and discharge the Company,
its past and present parents, subsidiaries, affiliates and related entities, and their respective past and present predecessors, successors, assigns, representatives, directors, officers, employees,
and agents from each and every claim, action or right of any sort, known or unknown, arising on or before the Effective Date. 

	(a)
	The
foregoing release includes, but is not limited to, any claim of discrimination on the basis of race, sex, religion, sexual orientation, national origin, disability, age, or
citizenship status; any other claim based on any local, state, or federal prohibition, including but not limited to claims under Title VII of the Civil Rights Act of 1964, as amended, the Age
Discrimination in Employment Act of 1967, as amended, or the Americans With Disabilities Act; any claim arising out of or related to any alleged express or implied employment contract, any other
alleged contract affecting terms and conditions of employment, or an alleged covenant of good faith and fair dealing; or any claim for severance pay, bonus, salary, sick leave, stocks, attorneys'
fees, holiday pay, vacation pay, life insurance, health or medical insurance or any other fringe benefit, workers' compensation or disability.

	(b)
	The
Executive represents that he understands the foregoing release, that rights and claims under the Age Discrimination in Employment Act of 1967, as amended, are among the rights and
claims against the Company he is releasing, and that he understands that he is not presently releasing any future rights or claims that might arise after the Effective Date.

	(c)
	The
Executive further agrees never to sue the Company or its past and present directors, officers, employees, parents, subsidiaries, affiliates, related entities, and 

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agents
or cause the Company or its past and present directors, officers, employees, parents, subsidiaries, affiliates, related entities, and agents to be sued regarding any matter within the scope of
the above release. If the Executive violates this Paragraph, the Company may recover all damages as allowed by law, including all costs and expenses, including reasonable attorneys' fees, incurred in
defending against the suit. 

        7.    Confidential Information and Trade Secrets.    

	(a)
	The
Executive acknowledges that through his employment with the Company he has acquired and had access to Confidential Information of the Company, its parents, subsidiaries,
affiliates or related entities. Executive further acknowledges that he has not published, disclosed or used any of this Confidential Information except in accordance with his duties for the Company.
The Executive agrees that, for a period of three years after the Effective Date, he will hold in confidence all Confidential Information of the Company, its parents, subsidiaries, affiliates or
related entities and will not disclose, publish or make use of such Confidential Information, unless compelled by law and then only after Notice to the Executive Vice President, Human Resources of the
Company. Executive further agrees to return all documents, disks, or any other item or source containing Confidential Information, or any other property of the Company, its parents, subsidiaries,
affiliates or related entities, to the Company on or before the Effective Date. If the Executive has any question regarding what data or information would be considered by the Company to be
Confidential Information, the Executive agrees to contact the Executive Vice President, Human Resources for written clarification. "Confidential Information" shall include any data or information,
other than trade secrets, that is valuable to the Company, its parents, subsidiaries, affiliates or related entities and not generally known to competitors or outsiders, regardless of whether the
confidential information is in printed, written, or electronic form, retained in the Executive's memory, or has been compiled or created by the Executive. This includes, but is not limited to:
marketing, advertising, technical, financial, personnel, staffing, payroll, computer systems, merchandising, strategic planning, information technology, product, vendor, supplier, customer or store
planning data, construction, trade secrets, or other information similar to the foregoing.

	(b)
	The
Executive also acknowledges that through his employment with the Company he has acquired and had access to Trade Secrets of the Company, its parents, subsidiaries, affiliates or
related entities. The Executive further acknowledges that the Company, its parents, subsidiaries, affiliates or related entities have made reasonable efforts under the circumstances to maintain the
secrecy of their Trade Secrets. Executive agrees to hold in confidence all Trade Secrets of the Company, its parents, subsidiaries, affiliates or related entities that came into his knowledge during
employment by the Company and shall not disclose, publish, or make use of at any time such Trade Secrets for so long as the information remains a Trade Secret. "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. 

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	(c)
	The
Executive further acknowledges that his breach of any of the covenants in this Paragraph 7 would result in immediate and irreparable harm to the Company, its parents,
subsidiaries, affiliates or related entities that cannot be adequately or reasonably compensated at law. Accordingly, the Executive agrees that the Company shall be entitled, if any such breach shall
occur or be threatened or attempted, if it so elects, to seek from a court a temporary, preliminary, and permanent injunction, without being required to post a bond, enjoining and restraining such
breach or threatened or attempted breach by the Executive. 

        8.    Non-Competition and Non-Solicitation.    

	(a)
	The
Executive acknowledges that during his employment he provided services to the Company, its parents, subsidiaries, affiliates, and related entities in all locations that these
entities conduct business. These services necessarily required the Company to disclose the Confidential Information and Trade Secrets of these entities to the Executive. The Executive further
acknowledges that his position allowed him to develop a personal relationship with certain customers, suppliers and vendors of the Company, its parents, subsidiaries, affiliates, and related entities,
and to acquire knowledge of the affairs and requirements of these customers, suppliers and vendors. The customers, suppliers and vendors with whom the Employee has had business dealings with on behalf
of these entities are located throughout the world. As a result, the Executive agrees that he will not, prior to November 1, 2010, enter into or maintain an employment, contractual, or other
relationship, either directly or indirectly, to provide marketing, advertising, executive, or managerial services in the same or similar manner as he did for the Company to 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, in the United States, Canada, Puerto Rico, Mexico, or
China prior to November 1, 2010, without the prior written consent of the Executive Vice President, Human Resources of the Company. Businesses that compete with the Company specifically
include, but are not limited to, the following entities and each of their subsidiaries, affiliates, assigns, or successors in interest: Lowe's Companies, Inc. (including, but not limited to,
Eagle Hardware and Garden); Sears Holding Corp. (including, but not limited to, Orchard Supply and Hardware Company); Wal-Mart; RONA Inc.; B&Q; Ace Hardware; True Value Company; and
Menard, Inc.

	(b)
	In
the event the Executive wishes to enter into any relationship or employment prior to November 1, 2010 which would be covered by the above non-compete provision,
Executive agrees to request written permission from the Executive Vice President, Human Resources of the Company prior to entering any such relationship or employment. The Company may approve or not
approve of the relationship or employment at its absolute discretion.

	(c)
	The
Executive agrees that prior to November 1, 2010, he will not directly or indirectly, on behalf of himself or any other entity or person, solicit or encourage any person who
is an employee of the Company, its parents, subsidiaries, affiliates or related entities to terminate his or her relationship with the Company, its parents, subsidiaries, affiliates or related
entities, or to refer any such employee to anyone, without prior written approval from the Executive Vice President, Human Resources of the Company.

	(d)
	The
Executive acknowledges that the covenants in this Paragraph 8: (i) are necessary for the protection of the legitimate business interests of the Company, its parents, 

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subsidiaries,
affiliates, and related entities; (ii) are reasonable in terms of time, geographic scope, and activities restricted; (iii) are designed to prevent unfair competition and
not to stifle the inherent skill and experience of the Executive; (iv) will not interfere with the Executive's ability to earn a livelihood; and (v) do not confer a benefit upon the
Company disproportionate to the detriment to the Executive. The Executive acknowledges that if he were to breach any of the covenants in this Paragraph 8, such breach would result in immediate
and irreparable harm to the Company that cannot be adequately or reasonably compensated at law. Accordingly, the Executive agrees that the Company shall be entitled, if any such breach shall occur or
be threatened or attempted, if it so elects, to a seek from a court a temporary, preliminary, and permanent injunction, without being required to post a bond, enjoining and restraining such breach or
threatened or attempted breach by the Executive. 

        9.    Breach by Executive.    The Company's obligations to the Executive under this Agreement are contingent on
Executive's performance of his obligations under this Agreement. Any breach by Executive of this Agreement will result in the immediate cancellation of all Executive's outstanding stock options and
restricted stock, as well as entitle the Company to all its other remedies allowed in law or equity, including but not limited to the return of any payments that it made to Executive under this
Agreement and the return to the Company of any proceeds Executive received from stock options or restricted stock exercised after November 1, 2007, to the extent permitted under federal, state
and local law. 

        10.    Executive Availability.    Executive agrees to make himself reasonably available to the Company to respond to
requests by the Company for information pertaining to or relating to the Company and/or the Company's affiliates, subsidiaries, agents, officers, directors or employees which may be within the
knowledge of the Executive. Executive agrees to cooperate fully with the Company in connection with any and all existing or future litigation, charges, or investigations brought by or against the
Company or any of its past or present affiliates, agents, officers, directors or employees, whether administrative, civil or criminal in nature, in which and to the extent the Company deems the
Executive's cooperation necessary. In conjunction with Executive's commitments under this paragraph, the Company will reimburse the Executive for reasonable out-of-pocket
expenses incurred as a result of such cooperation. 

        11.    Non-Disparagement.    The Executive agrees that he will not make or cause to be made any statements
that disparage, are inimical to, or damage the reputation of the Company, its parents, subsidiaries, affiliates, or related entities, and their respective past and present predecessors, successors,
assigns, representatives, directors, officers, employees, and agents to anyone, including but not limited to the media, internet blogs, public interest groups and publishing companies. 

        12.    Insider Trading.    The Executive acknowledges that until January 1, 2008, he remains subject to the
restrictions of the Company's Securities Laws Policy applicable to Directors, Officers, and Designated Associates, which permits trading only during designated window periods. After January 1,
2008, the Securities Law Policy will no longer apply to the Executive. However, the Executive acknowledges that through his employment with the Company he may have learned material,
non-public information regarding the Company. The federal securities laws prohibit trading by persons while aware of material, non-public information. The Executive should seek
advice of his legal counsel prior to conducting any transactions in the Company's stock if the Executive thinks he may possess such information. 

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        13.    Future Employment.    The Executive hereby understands and agrees that he will not be re-employed
by the Company in the future and that Executive will never knowingly apply to the Company, its subsidiaries, affiliates, parents or divisions for any job or position in the future. 

        14.    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. 

        15.    Right to Revoke this Agreement.    The Executive may revoke this Agreement in writing within seven
(7) days of signing it by sending written notice of revocation to the Executive Vice President, Human Resources of the Company. The Agreement will not take effect until the Effective Date. If
the Executive revokes this Agreement, all of its provisions shall be void and unenforceable. 

        16.    Effective Date.    The Effective Date shall be the day after the end of the revocation period described in
Paragraph 15. 

        17.    Confidentiality.    The Executive shall keep strictly confidential all the terms and conditions, including
amounts, in this Agreement and shall not disclose them to any person other than the Executive's
spouse and the Executive's legal or financial advisor, unless compelled by law to do so. If a person not a party to this Agreement requests or demands, by subpoena or otherwise, that the Executive
disclose or produce this Agreement or any terms or conditions thereof, the Executive shall immediately provide written notice to the Executive Vice President, Human Resources of the Company and shall
give the Company an opportunity to respond to such notice before taking any action or making any decision in connection with such request or subpoena. 

        18.    Non-Assignment.    The Executive represents and warrants that as of the date of this Agreement he
has not assigned or transferred, or purported to assign or transfer, to any person, firm, corporation, association or entity whatsoever any released claim. Executive hereby agrees to indemnify and
hold the Company harmless against, without any limitation, any and all rights, claims, warranties, demands, debts, obligations, liabilities, costs, court costs, expenses, including attorneys' fees,
causes of action or judgments based on or arising out of any such assignment or transfer. 

        19.    Entire Agreement.    This Agreement constitutes the entire understanding between the parties. The parties have
not relied on any oral statements that are not included in this Agreement. Any modifications to this Agreement must be in writing and signed by the Executive Vice President, Human Resources of the
Company. 

        20.    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. Executive and the Company hereby irrevocably submit any dispute arising out of or relating to this Agreement to the
exclusive concurrent jurisdiction of the state and federal courts located in Delaware. Executive and the Company also both irrevocably waive, to the fullest extent permitted by applicable law, any
objection either may now or hereafter have to the laying of venue of any such dispute brought in such court or any defense of inconvenient forum for the maintenance of such dispute, and both parties
agree to accept service of legal process from the courts of Delaware. 

6

 

        The Executive understands and acknowledges the significance and consequences of this Agreement, that the consideration provided herein is fair and adequate, and
represents that the terms of this Agreement are fully understood and voluntarily accepted.

	Home Depot U.S.A., Inc.	 	 
	

By:	
 	

/s/ Tim Crow
 Tim Crow	
 	

11-2-07
 Date
	

 	
 	

/s/ Roger Adams
 Roger Adams	
 	

11-25-07
 Date

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QuickLinks

Exhibit 10.50

SEPARATION AGREEMENT & RELEASE

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