Document:

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                                                                    EXHIBIT 10.2

                              DEFERRED SHARE AWARD

                   ( [DATE] AWARD FOR _______ DEFERRED SHARES)

         This Deferred Share Award is made to [CANADIAN OFFICER] this ____ day
of ____________, 20____, by THE HOME DEPOT, INC., a Delaware corporation.

                              W I T N E S S E T H:

         WHEREAS, the Company has adopted The Home Depot, Inc. 1997 Omnibus
Stock Incentive Plan which is administered by the Committee; and

         WHEREAS, Executive is an officer and employee of the Company and its
subsidiaries eligible to receive an award of Deferred Shares under the Plan; and

         WHEREAS, the Committee conducted its review of Executive's performance
and compensation and approved equity awards for the Executive at its __________
meeting,

         NOW, THEREFORE, the Committee hereby makes an award of Deferred Shares
under the Plan to Executive pursuant to the following terms and conditions:

         1.       Definitions. As used herein, the following terms shall be
defined as set forth below:

         (a)      "Award" means the Deferred Share Award to Executive, as set
forth herein, and as may be amended as provided herein.

         (b)      "Board" means the Company's Board of Directors.

         (c)      "Company" means The Home Depot, Inc., a Delaware corporation,
with offices at 2455 Paces Ferry Road, Atlanta, Georgia 30339.

         (d)      "Cause" means that Executive has been convicted of a felony
involving theft or moral turpitude, or engaged in conduct that constitutes
willful gross neglect or willful gross misconduct with respect to Executive's
employment duties which results in material economic harm to the Company or its
subsidiaries; provided, however, that for purposes of determining whether
conduct constitutes willful gross misconduct, no act on Executive's part shall
be considered "willful" unless it is done by Executive in bad faith and without
reasonable belief that her action was in the best interests of the Company and
its subsidiaries; Cause shall not be deemed to exist for purposes of this Award
unless a determination that Cause exists is made and approved by the Committee
and such determination shall be final and binding upon all parties.

         (e)      "Change in Control" means the occurrence of any of the
following events: (1) any "person" (as defined in Section 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended (the "Exchange Act")), excluding for
this purpose, (A) the Company or any subsidiary of the Company, or (B) any
employee benefit plan of the Company or any subsidiary of the Company, or any
person or entity organized, appointed or established by the Company for or

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pursuant to the terms of any such plan which acquires beneficial ownership of
voting securities of the Company, is or becomes the "beneficial owner" (as
defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of
securities of the Company representing more than twenty percent (20%) of the
combined voting power of the Company's then outstanding securities; provided,
however, that no Change in Control will be deemed to have occurred as a result
of a change in ownership percentage resulting solely from an acquisition of
securities by the Company; or (2) during any two (2) consecutive years (not
including any period beginning before the Grant Date, individuals who at the
beginning of such two (2) year period constitute the Board and any new director
(except for a director designated by a person who has entered into an agreement
with the Company to effect a transaction described elsewhere in this definition
of Change in Control) whose election by the Board or nomination for election by
the Company's stockholders was approved by a vote of at least two-thirds of the
directors then still in office who either were directors at the beginning of the
period or whose election or nomination for election was previously so approved
cease for any reason to constitute at least a majority of the Board; or (3)
consummation of a reorganization, merger or consolidation or sale or other
disposition of all or substantially all of the assets of the Company (a
"Business Combination"), in each case, unless, following such Business
Combination, all or substantially all of the individuals and entities who were
the beneficial owners of outstanding voting securities of the Company
immediately before such Business Combination beneficially own, directly or
indirectly, more than fifty percent (50%) of the combined voting power of the
then outstanding voting securities entitled to vote generally in the election of
directors, as the case may be, of the company resulting from such Business
Combination (including, without limitation, a company which as a result of such
transaction owns the Company or all or substantially all of the Company's assets
either directly or through one or more subsidiaries) in substantially the same
proportions as their ownership, immediately before such Business Combination of
the outstanding voting securities of the Company; or (4) approval by the
stockholders of the Company of a complete liquidation or dissolution of the
Company.

         (f)      "Committee" means the Leadership Development and Compensation
Committee of the Board. (g) "Competitor" means any company or entity in the home
improvement industry 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. Businesses that compete with the Company in the home improvement
industry 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 (including, but not limited to, Orchard Supply and
Hardware Company); Wal-Mart; Rona; Kent; Canadian Tire and Menard, Inc.

         (h)      "Deferred Shares" means the award of the Company's common
stock to Executive set forth in Section 2.

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         (i)      "Executive" means [INSERT CANADIAN OFFICER NAME AND TITLE]

         (j)      "Disability" means Executive's inability to substantially
perform her duties for the Company and its subsidiaries, with reasonable
accommodation, as evidenced by a certificate signed either by a physician
mutually acceptable to the Company and Executive or, if the Company and
Executive cannot agree upon a physician, by a physician selected by agreement of
a physician designated by the Company and a physician designated by Executive;
provided, however, that if such physicians cannot agree upon a third physician
within thirty (30) days, such third physician shall be designated by the
American Arbitration Association.

         (k)      "Grant Date" means [INSERT GRANT DATE]

         (l)      "Plan" means The Home Depot, Inc. 1997 Omnibus Stock Incentive
Plan, as amended from time to time.

         (m)      "Retirement" means termination of employment with the Company
and its subsidiaries on or after Executive's attainment of age sixty (60) and
having at least five (5) years of continuous service with the Company and its
subsidiaries.

         2.       Deferred Shares Award. Company hereby grants to Executive an
award of Deferred Shares under the Plan for _____________________ (______)
shares of the $.05 par value common stock of the Company, subject to the
conditions set forth herein.

         (a)      Vesting. The Deferred Shares shall vest and become payable to
Executive on the third (3rd) anniversary of the Grant Date, provided that,
except as provided in Section 2(c), Executive is employed by the Company or a
subsidiary or other affiliate on the applicable vesting date.

         (b)      Delivery of Shares. The Company shall cause a stock
certificate representing the vested Deferred Shares to be transferred to
Executive as soon as practicable after the vesting date. The Company may satisfy
its payment obligation, net of applicable taxes and other source deductions
required to be withheld by the Company, by having an independent broker acquire
shares on the open market on behalf of the Executive.

         (c)      Termination of Employment; Change in Control. Upon termination
of Executive's employment for any reason other than Retirement before the
Deferred Shares have vested, all unvested shares shall be forfeited.
Notwithstanding the foregoing, if (1) the Company terminates Executive's
employment other than for Cause, (2) Executive's employment terminates due to
death or Disability, or (3) Executive's employment is terminated by the Company
in connection with a Change in Control that occurs while Executive is employed
by the Company, any Deferred Shares that have not yet vested shall immediately
vest. The Company shall issue such Deferred Shares to Executive within ten (10)
days after the termination of Executive's employment or such later time as may
be required by insider trading or other applicable securities laws. Upon
employment termination due to Retirement before the vesting date specified in
Section 2(b), all Deferred Shares that have not lapsed as of the date of
Executive's Retirement shall continue to vest according to the vesting schedule

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set forth in Section 2(a) and the Company shall issue such Deferred Shares to
Executive as soon as practicable after the Deferred Shares vest; provided,
however, that if after reaching Retirement, Executive becomes, either directly
or indirectly, employed with a Competitor, all unvested Deferred Shares shall be
immediately forfeited.

         3.       Adjustments for Dividends. Upon the payment of any cash
dividend on shares of common stock of the Company before the issuance of a stock
certificate representing the Deferred Shares, the number of Deferred Shares
shall be increased by the number obtained by dividing (x) the aggregate amount
of the dividend that would be payable if each Deferred Share were issued and
outstanding and entitled to dividends on the dividend payment date, by (y) the
Fair Market Value of the common stock on the dividend payment date. The number
of Deferred Shares shall also be entitled to such adjustments as are determined
by the Committee under Section 11 of the Plan.

         4.       Stockholder Rights. The Deferred Shares shall not be sold,
pledged, assigned, hypothecated, transferred or disposed of in any manner,
whether by the operation of law or otherwise prior to vesting. Upon vesting and
the issuance of a stock certificate representing the Deferred Shares, Executive
shall have all of the rights of a stockholder with respect to the Deferred
Shares, including the right to vote the shares and to receive all dividends or
other distributions paid or made available with respect to such shares. Before
the delivery of such stock certificate, Executive shall have none of the rights
of a stockholder with respect to the Deferred Shares.

         5.       Adjustments. The number of shares covered by the Deferred
Shares and, if applicable, the kind of shares covered by the Deferred Shares
shall be adjusted to reflect any stock dividend, stock split, or combination of
shares of the Company's Common Stock. In addition, the Committee may make or
provide for such adjustment in the number of shares covered by the Deferred
Shares, and the kind of shares covered by the Deferred Shares, as the Committee
in its sole discretion may in good faith determine to be equitably required in
order to prevent dilution or enlargement of Executive's rights that otherwise
would result from (a) any exchange of shares of the Company's Common Stock,
recapitalization or other change in the capital structure of the Company, (b)
any merger, consolidation, spin-off, spin-out, split-off, split-up,
reorganization, partial or complete liquidation or other distribution of assets
(other than a normal cash dividend), issuance of rights or warrants to purchase
securities, or (c) any other corporate transaction or event having an effect
similar to any of the foregoing. No amount shall be paid to, and no units shall
be granted to Executive to compensate her for a downward fluctuation in the
price of the common shares, nor will any benefit be conferred upon, or in
respect of, Executive for such purpose.

         6.       Fractional Shares. The Company shall not be required to issue
any fractional shares pursuant to this Award, and the Committee may round
fractions down.

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         7.       Withholding. Executive shall pay all applicable federal, state
and local income and employment taxes (including taxes of any foreign
jurisdiction) which the Company is required to withhold at any time with respect
to the Deferred Shares. Such payment shall be made in full, at Executive's
election, in cash or check, by withholding from the Executive's next normal
payroll check, or by the tender of Deferred Shares payable under this Award.
Deferred Shares tendered as payment of required withholding shall be valued at
the closing price per share of the Company's common stock on the date such
withholding obligation arises.

         8.       No Impact on Other Benefits and Employment. This Award shall
not confer upon Executive any right with respect to continuance of employment or
other service with the Company and shall not interfere in any way with any right
that the Company would otherwise have to terminate Executive's employment at any
time, subject to the terms of any employment agreement. Nothing herein contained
shall affect Executive's right to participate in and receive benefits under and
in accordance with the then current provisions of any pension, insurance or
other employment plan or program of the Company or any of its subsidiaries nor
constitute an obligation for continued employment.

         9.       Plan Provisions. In addition to the terms and conditions set
forth herein, this award of Deferred Shares is subject to and governed by the
terms and conditions set forth in the Plan, which is hereby incorporated by
reference. Unless the context otherwise requires, capitalized terms used in this
Award and not otherwise defined herein shall have the meanings set forth in the
Plan. In the event of any conflict between the provisions of the Award and the
Plan, the Plan shall control.

         10.      Notice. Any written notice required or permitted by this Award
shall be mailed, certified mail (return receipt requested) or hand-delivered,
addressed to Company's Executive Vice President - Human Resources at Company's
corporate headquarters in Atlanta, Georgia as set forth in Section 1(c), or to
Executive at her most recent home address on record with the Company. Notices
are effective upon receipt.

         11.      Miscellaneous.

         (a)      Limitation of Rights. The granting of the award of Deferred
Shares shall not give Executive any rights to similar grants in future years or
any right to be retained in the employ or service of the Company or to interfere
in any way with the right of the Company to terminate Executive's services at
any time or the right of Executive to terminate her services at any time.

         (b)      Claim and Review Procedures. The claim and review procedures
set forth in the Home Depot U.S.A., Inc. Deferred Compensation Plan For Officers
are incorporated herein by reference.

         (c)      Rights Unsecured. The Company shall remain the owner of all
amounts deferred pursuant to this Agreement, and Executive shall have only
Company's unfunded, unsecured

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promise to pay. The rights of Executive hereunder shall be that of an unsecured
general creditor of the Company, and Executive shall not have any security
interest in any assets of the Company.

         (d)      Limitation of Actions. Any lawsuit with respect to any matter
arising out of or relating to this Award must be filed no later than one (1)
year after the Company provides Executive with a written denial of any claim
made by Executive hereunder.

         (e)      Offset. The Company shall have the right to deduct from
amounts otherwise payable under this Award all amounts owed by Executive to
Company and its affiliates to the maximum extent permitted by applicable law.

         (f)      Controlling Law. Executive and the Company agree that in light
of the Executive being employed in two different jurisdictions, for purposes of
certainty, it is the parties desire that this Award 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. Executive agrees
that the Company may seek enforcement in a Canadian court of any United States
judgement obtained pursuant to this Award and Executive agrees not to raise any
objection to the Company seeking enforcement of said judgement in a Canadian
court.

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

         (h)      Construction. The Award contains the entire understanding
between the parties and supersedes any prior understanding and agreements
between them representing the subject matter hereof, except that this Award
shall be subject to the terms and conditions set forth in any employment
agreement and non-competition/non-solicitation agreement between Executive and
Company. 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.

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

         The undersigned, Chairman, President and Chief Executive Officer of the
Company, has executed this Award [FOR EXECUTIVE OFFICERS: at the direction of
the Leadership

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Development and Compensation Committee of the Board of Directors] effective as
of _______________.

                                   THE HOME DEPOT, INC.

                                   By:
                                      ----------------------------------------
                                         Robert L. Nardelli
                                         Chairman, President & CEO

                                       7<PAGE>
                                                                    EXHIBIT 10.3

                              THE HOME DEPOT, INC.
                              NONEMPLOYEE DIRECTOR
                              DEFERRED SHARE AWARD

                         ([DATE] AWARD; ________ SHARES)

         This Deferred Share Award (the "Award") is made as of the [DAY] day of
[MONTH], [YEAR] by THE HOME DEPOT, INC., a Delaware corporation (the "Company")
to [OUTSIDE DIRECTOR'S NAME] ("Director").

                              W I T N E S S E T H:

         WHEREAS, the Company has adopted The Home Depot, Inc. 1997 Omnibus
Stock Incentive Plan (the "Plan") which is administered by the Leadership
Development and Compensation Committee of the Company's Board of Directors (the
"Committee"); and

         WHEREAS, Director is a member of the Board of Directors (the "Board")
eligible to receive grants of Awards under the Plan; and

         WHEREAS, the Board has approved the grant to Director of this award of
deferred shares under the terms of the Plan representing Director's annual stock
retainer for service on the Board (the "Award") and to promote Director's
long-term interests in the success of the Company; and

         WHEREAS, to comply with the terms of the Plan and to further the
interests of the Company and Director, the Company herein sets forth the terms
of such award in writing, as follow;

         1.       STOCK AWARD. The Company hereby grants to Director an award of
________ shares of the $.05 par value common stock of the Company, subject to
the conditions set forth herein. Such shares are hereinafter referred to as the
"Deferred Shares."

         2.       DELIVERY OF SHARES. A stock certificate representing the
Deferred Shares shall be transferred to Director on or as soon as practicable
after the earlier of (i) the date on which Director ceases to be a member of the
Board by reason of his or her death, retirement or disability as defined by
Section 409A(a)(2)(C) of the Internal Revenue Code of 1986, as amended (the
"Code"); or (ii) the first anniversary of the date on which Director ceases to
be a member of the Board for any reason other than death, retirement or
disability as defined by Code Section 409A(a)(2)(C); or (iii) the date on which
the Director ceases to be a member of the Board in connection with a Change in
Control of the Company (as defined in Section 7); service terminations within
six (6) months before or after the occurrence of a Change in Control shall be
deemed to be in connection with a Change in Control. For purposes of this Award,
Director shall be considered to have retired if he or she does not seek
reelection to the Board due to any Company policy imposing a maximum age for
service on the Board or a maximum length of service on the Board.

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         3.       ADJUSTMENTS FOR DIVIDENDS. Upon the payment of any cash
dividend on shares of common stock of the Company before the issuance of a stock
certificate representing the Deferred Shares, the number of Deferred Shares
shall be increased by the number obtained by dividing (x) the aggregate amount
of the dividend that would be payable if each Deferred Share were issued and
outstanding and entitled to dividends on the dividend payment date, by (y) the
Fair Market Value of the common stock on the dividend payment date. The number
of Deferred Shares shall also be entitled to such adjustments as are determined
by the Committee under Section 11 of the Plan.

         4.       STOCKHOLDER RIGHTS. Upon the issuance of a stock certificate
representing the Deferred Shares, Director shall have all of the rights of a
stockholder with respect to the Deferred Shares, including the right to vote the
shares and to receive all dividends or other distributions paid or made
available with respect to such shares. Before the delivery of such stock
certificate, Director shall have none of the rights of a stockholder with
respect to the Deferred Shares.

         5.       FRACTIONAL SHARES. The Company shall not be required to issue
any fractional shares pursuant to this Award, and the Committee may round
fractions down.

         6.       PLAN PROVISIONS. In addition to the terms and conditions set
forth herein, the Award is subject to and governed by the terms and conditions
set forth in the Plan, which is hereby incorporated by reference. Unless the
context otherwise requires, capitalized terms used in this Award shall have the
meanings set forth in the Plan. In the event of any conflict between the
provisions of the Award and the Plan, the Plan shall control.

         7.       CHANGE IN CONTROL. For purposes of this award, "Change in
Control" shall mean 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 20% 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 of Directors of the Company cease, for any reason, to
constitute at least a majority of the Board of Directors, 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; (iii) the stockholders of the Company approve any
merger or consolidation 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 any liquidation of the Company or any sale

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or other disposition of 50% or more of the assets or earning power of the
Company; or (iv) the stockholders of the Company approve any merger or
consolidation 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 55% of
the combined voting power for election of directors of the surviving corporation
following the effective date of such merger or consolidation.

         8.       MISCELLANEOUS.

                  (a)      LIMITATION OF RIGHTS. The granting of this Award
shall not give Director any rights to similar grants in future years or any
right to be retained in the employ or service of the Company or to interfere in
any way with the right of the Company to terminate Director's services at any
time or the right of Director to terminate his or her services at any time.

                  (b)      RIGHTS UNSECURED. The rights of Director hereunder
shall be that of an unsecured general creditor of the Company, and Director
shall not have any security interest in any assets of the Company. Director
shall have only the Company's unfunded, unsecured promise to issue shares of the
Company's common stock in the future pursuant to this Award.

                  (c)      NONTRANSFERABILITY/NONALIENABILITY. No right of
Director hereunder shall be subject to alienation, transfer, sale, assignment,
pledge, attachment, garnishment or encumbrance of any kind. Any attempt to
alienate, sell, transfer, assign, pledge or otherwise encumber any such payments
whether presently or thereafter payable shall be void.

                  (d)      CODE SECTION 409A COMPLIANCE. This Award is intended
to satisfy the requirements of Code Section 409A and shall be construed
accordingly. The Company in its discretion may delay the issuance of Deferred
Shares or take any other action it deems necessary to comply with the
requirements of Code Section 409A, including amending this Award, without
Director's consent, in any manner it deems necessary to cause the Award to
comply with the requirements of Code Section 409A.

                  (d)      LIMITATION OF ACTIONS. Any lawsuit with respect to
any matter arising out of or relating to this Award must be filed no later than
one (1) year after the Company provides Director with a written denial of any
claim made by Director hereunder.

                  (e)      OFFSET. Company may deduct from amounts otherwise
payable under this Award all amounts owed by Director to Company and its
affiliates to the maximum extent permitted by applicable law.

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                  (f)      CONTROLLING LAW. This Award shall be governed by, and
construed in accordance with, the laws of the State of Georgia (without giving
effect to the choice of law principles) and any action arising out of or related
thereto shall be brought in either the United States District Court for the
Northern District of Georgia, Atlanta Division, or the Superior Court of Cobb
County, Georgia.

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

                  (h)      CONSTRUCTION. The Award contains the entire
understanding between the parties and supersedes any prior understanding and
agreements between them representing the subject matter hereof. 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.

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

                                           BOARD OF DIRECTORS OF
                                           THE HOME DEPOT, INC.

                                           By:
                                                -------------------------------
                                                Robert L. Nardelli, Chairman

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