Document:

Exhibit

Exhibit 10.1

DEFERRED STOCK UNIT AGREEMENT
FOR OUTSIDE DIRECTORS

Non-transferable

G R A N T  T O

(Name)
 (the “Grantee”)

by Lowe’s Companies, Inc. of units representing the right to receive

(Number of Units)

shares of its Common Stock, $0.50 par value 

pursuant to and subject to the provisions of the Lowe’s Companies, Inc. 2006 Long Term Incentive Plan, as amended and restated, and to the terms and conditions set forth on the following page.

IN WITNESS WHEREOF, Lowe’s Companies, Inc., acting by and through its duly authorized officer, has caused this Agreement to be executed as of the Award Date.

	
		
	 
	LOWE’S COMPANIES, INC.

	 
	 

	 
	By: ______________________________________

	 
	Ross W. McCanless

	 
	Executive Vice President, General Counsel and Corporate Secretary

	 
	 

	 
	Award Date:  (Date)

	 
	 

	 
	Accepted by Grantee: __________________________

	 
	                                                        Name

TERMS AND CONDITIONS

		
	1.
	Grant of Units.  Lowe’s Companies, Inc. (the “Company”) hereby grants to the Grantee named on Page 1 hereof (“Grantee”), subject to the restrictions and the other terms and conditions set forth in the Lowe’s Companies, Inc. 2006 Long Term Incentive Plan, as amended and restated (the “Plan”) and in this award agreement (this “Agreement”), deferred stock units (the “Units”) representing the right to receive the number of shares indicated on Page 1 hereof of the Company’s Common Stock (the “Shares”).  Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Plan.

		
	2.
	Vesting of Units.  All Units granted pursuant to this Agreement shall be immediately one hundred percent (100%) vested in the Grantee on the Award Date.

		
	3.
	Deferral Account; Dividend Units.  The Units shall be credited to a bookkeeping account in the name of the Grantee on the books and records of the Company (the “Deferral Account”).  Within thirty (30) days after the payment date of any cash dividend with respect to shares of Common Stock of the Company, the Grantee’s Deferral Account shall be credited with the number of additional Units determined by dividing (a) the product of the total number of Units credited to the Grantee’s Deferral Account as of the record date for such dividend multiplied by the per share amount of the dividend by (b) the Fair Market Value of a share of Common Stock on such record date (the “Dividend Units”).  Dividend Units shall be immediately one hundred percent (100%) vested in the Grantee when credited to the Grantee’s Deferral Account.

		
	4.
	Receipt of Shares.  The Company will issue the Shares, plus any additional shares of Common Stock of the Company represented by Dividend Units credited to the Grantee’s Deferral Account, to the Grantee, or in the event of the Grantee’s death to the Grantee’s estate, as soon as practicable following the Grantee’s termination of service as a member of the Board of Directors of the Company.  The form of payment shall be one share of the Company’s Common Stock for each Unit credited to the Grantee’s Deferral Account and cash for any fractional Unit.  Distribution shall be made in a single sum payment of shares and cash.

		
	5.
	Limitation of Rights.  The Units and Dividend Units do not confer to Grantee any rights of a shareholder of the Company unless and until shares of Common Stock of the Company are in fact issued to the Grantee in connection herewith.

		
	6.
	Restrictions on Transfer and Pledge.  No right or interest of the Grantee in the Units and Dividend Units may be pledged, encumbered, or hypothecated to or in favor of any party other than the Company or an affiliate, or shall be subject to any lien, obligation, or liability of Grantee to any other party other than the Company or an affiliate.

		
	7.
	Plan Controls. The terms contained in the Plan (including without limitation provisions regarding changes in capital structure of the Company) are incorporated into and made a part of this Agreement and this Agreement shall be governed by and construed in accordance with the Plan.  In the event of any actual or alleged conflict between the provisions of the Plan and the provisions of this Agreement, the provisions of the Plan shall be controlling and determinative.

		
	8.
	Successors.  This Agreement shall be binding upon any successor of the Company, in accordance with the terms of this Agreement and the Plan.

		
	9.
	Severability.  If any one or more of the provisions contained in this Agreement are invalid, illegal or unenforceable, the other provisions of this Agreement will be construed and enforced as if the invalid, illegal or unenforceable provision had never been included.

		
	10.
	Notice.  Notices and communications under this Agreement must be in writing and either personally delivered or sent by registered or certified United States mail, return receipt requested, postage prepaid.  Notices to the Company must be addressed to:

Lowe’s Companies, Inc.
1000 Lowes Boulevard
Mooresville, NC 28117
Attn:   Executive Vice President, General Counsel and Corporate Secretary

or any other address designated by the Company in a written notice to Grantee.  Notices to the Grantee will be directed to the address of the Grantee then currently on file with the Company, or at any other address given by Grantee in a written notice to the Company.EX-4.1

 Exhibit 4.1 
  

 
 INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE CUSIP 449585 10 8 SEE REVERSE FOR CERTAIN DEFINITIONS AND LEGENDS This certifies
that is the record holder of FULLY PAID AND NONASSESSABLE SHARES OF VOTING COMMON STOCK, $0.01 PAR VALUE PER SHARE, OF transferable on the books of the corporation IGM in person or BIOSCIENCES by duly authorized , I attorney NC. upon surrender of
this Certificate properly endorsed. This Certificate is not valid until countersigned by the Transfer Agent and registered by the Registrar. WITNESS the facsimile seal of the Corporation and the facsimile signatures of its duly authorized officers.
Dated: PRESIDENT & CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER COUNTERSIGNED AND REGISTERED: AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC (BROOKLYN, NY) TRANSFER AGENT AND REGISTRAR BY: AUTHORIZED SIGNATURE 

 The Corporation shall furnish without charge to each stockholder who so requests a statement
of the powers, designations, preferences and relative, participating, optional or other special rights of each class of stock of the Corporation or series thereof and the qualifications, limitations or restrictions of such preferences and/or rights.
Such requests shall be made to the Corporation’s Secretary at the principal office of the Corporation. 
 KEEP THIS CERTIFICATE IN A
SAFE PLACE. IF IT IS LOST, STOLEN, OR DESTROYED THE CORPORATION WILL REQUIRE A BOND INDEMNITY AS A CONDITION TO THE ISSUANCE OF A REPLACEMENT CERTIFICATE. 

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

																	
	TEN COM	 	–	 	as tenants in common	 		  	UNIF GIFT MIN ACT	 	– 	 	........................... Custodian ............................
	TEN ENT	 	–	 	as tenants by the entireties	 		  		 		 	(Cust)	  		  	(Minor)
	JT TEN	 	–	 	as joint tenants with right of	 		  		 		 	under Uniform Gifts to Minors
		 		 	survivorship and not as tenants	 		  		 		 	Act.................................................................
		 		 	in common	 		  		 		 		  	(State)	  	
	COM PROP	 	–	 	as community property	 		  	UNIF TRF MIN ACT	 	– 	 	..................... Custodian (until age .................)
		 		 		 		  		 		 	(Cust)	  		  	
		 		 		 		  		 		 	.............................. under Uniform Transfers
		 		 		 		  		 		 	(Minor)	  		  	
		 		 		 		  		 		 	to Minors Act...............................................
		 		 		 		  		 		 		  	(State)	  	

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

FOR VALUE RECEIVED, _____________________________________________________ hereby sell(s), assign(s) and transfer(s) unto 

 

					
	 PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

 
	  		  	
	     

    
	  		  	

  

	
	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)
	    
	
	 
	 
	    
	                                      
                                         
                                         
                                         
                                         
                                   shares
	of the capital stock represented by within Certificate, and do hereby irrevocably constitute and appoint
	    
	                                      
                                         
                                         
                                         
                                         
                    attorney-in-fact
	to transfer the said stock on the books of the within named Corporation with full power of the substitution in the premises.
	
	Dated
                                         
       

  

					
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	Signature(s) Guaranteed:	  	    NOTICE:	 	 THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY
PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER.

  

					
			
	 By
	 	 	  	

			
		
	THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION, (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE
MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15. GUARANTEES BY A NOTARY PUBLIC ARE NOT ACCEPTABLE. SIGNATURE GUARANTEES MUST NOT BE DATED.

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