Document:

Exhibit
10.1

 

DEFERRED SHARE AWARD

( [date] Award
For
              
Deferred Shares)

 

This
Deferred Share Award is made to [MEXICO OFFICER/ASSOCIATE]
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. 2005 Omnibus Stock Incentive Plan; and

 

WHEREAS, Associate is
an employee of a subsidiary of the Company eligible to receive an award of
Deferred Shares under the Plan; and

 

WHEREAS,  the Company
desires to grant to Associate an award of Deferred Shares under the terms of
the Plan to promote Associate’s long-term interests in the success of the
Company and its subsidiaries; and

 

NOW, THEREFORE, the Company
makes an award of Deferred Shares under the Plan to Associate pursuant to the
following terms and conditions:

 

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

 

(a)           “Associate”
means [INSERT MEXICO ASSOCIATE NAME AND TITLE]

 

(b)           “Award” means
the Deferred Share Award to Associate, as set forth herein, and as may be
amended as provided herein.

 

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

 

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

 

 

 

 

 

consummation
of any merger or consolidation, approved by the stockholders of the Company, to
which the Company is a party as a result of which the persons who were
stockholders of the Company immediately prior to the effective date of the
merger or consolidation shall have beneficial ownership of less than 50% of the
combined voting power for election of directors of the surviving corporation
following the effective date of such merger or consolidation.

 

(e)           “Competitor”
means any company or entity engaged in any way in a business that competes
directly or indirectly with the Company, its parents, subsidiaries, affiliates
or related entities, 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 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; Ace Hardware; True Value Company;
Menard, Inc., Construrama, Todo Fácil, Cómex, Kingfisher PLC, Leroy
Merlin, Hornbach, La Maison, OBI, Home Mart, Orient Home, Home First, and No. 9.

 

(f)            “Deferred Shares” means
the award of the Company’s common stock to Associate set forth in Section 2,
including any dividend equivalents credited pursuant to Section 3.

 

(g)           “Employer” means
[FORMAL NAME OF LOCAL COMPANY EMPLOYING MEXICO
ASSOCIATE], a subsidiary of the Company, with offices at
                                        .

 

(h)           “Grant Date”
means [INSERT GRANT DATE]

 

(i)            “Plan” means
The Home Depot, Inc. 2005 Omnibus Stock Incentive Plan, as amended from
time to time.

 

(j)            “Retirement”
means termination of employment with the Company and its subsidiaries on or
after Associate’s attainment of age sixty (60) and having at least five (5) years
of continuous service with the Company and its subsidiaries.

 

2.             Deferred
Share Award. Company hereby grants to Associate an award of
Deferred Shares under the Plan for
                                          
(            )
shares of the $.05 par value common stock of the Company, subject to the
restrictions and other conditions set forth herein.

 

(a)           Vesting.  The Deferred Shares shall vest and become
payable to Associate as follows provided that, except as provided in Section 2(c),
Associate is employed by the Company or a Company subsidiary on the vesting
date: [OPTION 1: twenty-five percent (25%) of
the shares granted shall vest and become payable upon the third (3rd)
anniversary of the Grant Date; twenty-five percent (25%) of the shares granted
shall vest and become payable upon the sixth (6th) anniversary of
the Grant Date; and fifty percent (50%) of the shares granted shall vest and
become payable upon the earlier of the date on which Associate reaches age 60
or the tenth (10th) anniversary of the Grant Date.]  [OPTION 2:  one hundred percent (100%) of the shares
granted shall vest and become payable upon the [select: first (1st)
or second (2nd) or third (3rd) or fourth (4th)
or fifth (5th)] anniversary of the Grant Date.]   [OPTION 3 (FOR
NON-OFFICERS): fifty percent 

 

 

 

 

 

 

 

 

2

 

(50%)
of the shares granted shall vest and become payable upon the second (2nd)
anniversary of the Grant Date, and the remaining fifty percent (50%) of the
shares granted shall vest and become payable upon the fourth (4th)
anniversary of the Grant Date.]  [OPTION 4 (FOR OFFICERS): 
fifty percent (50%) of the shares granted shall vest and become payable
upon the thirtieth (30th) month anniversary of the Grant Date, and
the remaining fifty percent (50%) of the shares granted shall vest and become
payable upon the fifth (5th) anniversary of the Grant Date.]  Deferred Shares that have not vested shall be
subject to forfeiture as provided in Section 2(c).  Upon a Change in Control of the Company all
unvested Deferred Shares shall immediately vest and become payable.  In the event of death or employment
termination due to permanent and total disability, any unvested Deferred Shares
shall immediately vest and become payable to the Associate or Associate’s
estate.

 

(b)           Delivery of Shares.  Except as otherwise provided in Section 2(c),
the Company shall cause a stock certificate representing the vested Deferred
Shares to be transferred to Associate 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 or a Company subsidiary, by having an
independent broker acquire shares on the open market on behalf of the
Associate.  The Company will not be
required to deliver any shares pursuant to this Award if, in the opinion of
counsel for the Company, such issuance would violate the Securities Act of 1933
or any other applicable federal or state securities laws or regulations.  Prior to the issuance of any shares pursuant
to this Award, the Company may require that Associate (or Associate’s legal representative
upon Associate’s death or disability) enter into such written representations,
warranties and agreements as the Company may reasonably request in order to
comply with applicable securities laws or with this Award.

 

(c)           Change in Employment Status.  If Associate’s employment with the Company
and its subsidiaries terminates for reasons other than [DO NOT USE
WITH OPTION 1 VESTING: Retirement,] death or permanent and total
disability, or if Associate’s employment status changes to a position which the
Company deems to be ineligible for this Deferred Share grant, any Deferred
Shares which had been granted to Associate which have not yet become vested as
of the date of Associate’s termination or upon Associate’s commencing
employment in a non-eligible position, shall be immediately forfeited by
Associate. [USE WITH OPTION 1 VESTING: Upon
employment termination due to Retirement, all Deferred Shares that have not
lapsed as of the date of Associate’s Retirement shall continue to vest
according to the vesting schedule set forth in Section 2 of this Award,
provided that a sufficient number of shares shall vest at the time said
Deferred Shares become taxable to Associate to cover applicable tax withholding
required pursuant to Section 7; further provided, that if after reaching
Retirement, Associate 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 

 

 

 

 

 

 

 

 

 

 

 

 

 

3

 

the
common stock on the dividend payment date. The number of Deferred Shares shall
also be entitled to such adjustments as are determined 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 before vesting.  Upon vesting and the issuance of a stock
certificate representing the Deferred Shares, Associate 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, Associate 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 Company 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 Company in its sole discretion
may in good faith determine to be equitably required in order to prevent
dilution or enlargement of Associate’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 Associate to compensate Associate for a
downward fluctuation in the price of the common shares, nor will any benefit be
conferred upon, or in respect of, Associate for such purpose.

 

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

 

7.             Withholding.  Associate shall pay all applicable
income, employment or other taxes (including taxes of any foreign jurisdiction)
which the Company or a Company subsidiary is required to withhold at any time
with respect to the Deferred Shares. 
Such payment shall be made in full, at Associate’s election, in cash or
check, by withholding from the Associate’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.             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 are 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.

 

 

 

 

 

 

 

 

 

 

 

 

4

 

9.             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(b), or to Associate at Associate’s most
recent home address on record with the Company and its subsidiaries.  Notices are effective upon receipt.

 

10.           Miscellaneous.

 

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

 

(b)           Rights Unsecured.  The Company shall remain the owner of all
amounts deferred pursuant to this Agreement, and Associate shall have only
Company’s unfunded, unsecured promise to pay. 
The rights of Associate hereunder shall be that of an unsecured general
creditor of the Company, and Associate shall not have any security interest in
any assets of the Company.

 

(c)           Resolution of Disputes.  Any dispute or disagreement which may arise
under, or as a result of, or in any way relate to, the interpretation,
construction or application of this Award shall be determined by the Company’s
Executive Vice President-Human Resources. 
Any determination made hereunder shall be final, binding and conclusive
on the Associate, the Associate’s heirs, executors, administrators and
successors, and the Company and its subsidiaries for all purposes.

 

(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 date that the Company and its subsidiaries denies the claim made by
Associate or any earlier date that the claim otherwise accrues.

 

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

 

(f)            Controlling Law.
By accepting this Award, Associate agrees 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.  Associate and the Company hereby irrevocably
submit to the exclusive jurisdiction of the courts of Delaware.  Associate 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.  By accepting this
award, Associate agrees that the
Company may seek enforcement in a Mexican court of any United States judgement
obtained pursuant to this Award and Associate agrees not to raise any objection
to the Company and its subsidiaries seeking enforcement of said judgement in a
Mexican court.

 

 

 

 

 

 

 

 

 

 

 

5

 

(g)           Severability.  If any term, provision, covenant or
restriction contained in this 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
this Award shall remain in full force and effect, and shall in no way be
affected, impaired or invalidated.

 

(h)           Construction.  This 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
Associate and the Company subsidiary that employs Associate.  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 this Award are for reference purposes only and are in no way intended to
describe, interpret, define or limit the scope, extent or intent of this Award
or any provision hereof.

 

ASSOCIATE ACKNOWLEDGEMENT

 

Associate
acknowledges and agrees that this Award has been made pursuant to Associate’s
employment agreement with the Employer, that Associate is eligible to receive
this Award as a consequence of such employment and the position that Associate
performs for the Employer, and that neither this Award nor the Plan create an
employment relationship between Associate and the Employer or the Company.  Associate further acknowledges that he or she
speaks and reads the English language. 
This Award shall be null and void unless signed by Associate and
returned to the Company within thirty (30) days of the Grant Date.

 

 

 

	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ASSOCIATE

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Date:

  	
   

  

 

*********************************

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6Exhibit
10.2

 

THE HOME
DEPOT, INC.

RESTRICTED
STOCK AWARD

 

This Restricted Stock Award (the “Award”) is made as of the <XX> day of <Month>,
<Year>, by THE HOME DEPOT, INC., a Delaware corporation (the
“Company”) to <Associate Name>
(“Executive”).

 

W I T N E S S E T H:

 

WHEREAS, the Company has adopted The Home Depot, Inc.
2005 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, Executive is an Employee of the Company or its
Subsidiary eligible to receive grants of Awards under the Plan; and

 

WHEREAS, the Committee has granted to Executive an award of
restricted stock under the terms of the Plan (the “Award”) to promote Executive’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
Executive, the Company hereby makes an award of restricted stock under the
terms of the Plan to Executive pursuant to the following terms and conditions:

 

1.             Stock Award.  The Company hereby grants to Executive an
award of <XXX,XXX> shares of the $.05 par
value common stock of the Company, subject to the restrictions and other
conditions set forth herein.  Such shares
are hereinafter referred to as the “Restricted Shares.”

 

2.             Restrictions The Restricted Shares
shall vest and become transferable as follows: [OPTION
ONE: twenty-five percent (25%) of the shares granted shall vest
and become transferable upon the third (3rd) anniversary of the date
of grant; twenty-five percent (25%) of the shares granted shall vest and become
transferable upon the sixth (6th) anniversary of the date of grant;
and fifty percent (50%) of the shares granted shall vest and become
transferable upon the earlier of the date on which Executive reaches age 60 or
the tenth (10th) anniversary of the date of grant.] [OPTION TWO:  one hundred percent (100%) of the shares
granted shall vest and become transferable upon the [select: first (1st)
or second (2nd) or third (3rd) or fourth (4th)
or fifth (5th)] anniversary of the date of grant.]  [OPTION THREE (For
Officers): fifty percent (50%) of the shares granted shall vest and
become transferable upon the thirtieth (30th) month anniversary of
the date of grant; and fifty percent (50%) of the shares granted shall vest and
become transferable upon the fifth (5th) anniversary of date of
grant.]  [OPTION FOUR
(For Non-officers): fifty percent (50%) of the shares granted shall
vest and become transferable upon the second (2nd) anniversary of
the date of grant; and fifty percent (50%) of the shares granted shall vest and
become transferable upon the fourth (4th) anniversary of date of
grant.]  Restricted Shares that have not
vested may not be sold, transferred, pledged, assigned or otherwise alienated
or hypothecated.  Restricted Shares that
have not vested shall be subject to forfeiture as provided in Section 3.  Upon a Change in Control of the Company (as
defined in Section 9) all unvested Restricted Shares shall immediately
vest and become transferable.  In the
event of death or employment termination due to permanent and total disability,
any 

 

 

 

 

 

 

1

 

unvested Restricted Shares shall immediately vest and become
transferable by Executive or Executive’s estate.

 

3.             Change in Employment Status.  If Executive’s employment with the Company
and its subsidiaries terminates for reasons other than [FOR USE
WITH OPTIONS TWO, THREE AND FOUR VESTING ONLY: Retirement,] death or permanent and total disability, or if Executive’s
employment status changes to a position which the Company deems to be
ineligible for this restricted stock grant, any Restricted Shares which had
been granted to Executive which have not yet become vested and transferable, as
of the date of Executive’s termination or upon Executive’s commencing
employment in a non-eligible position, shall be immediately forfeited by
Executive. [FOR USE WITH OPTIONS TWO, THREE AND FOUR
VESTING ONLY: Upon employment termination due to Retirement, all
Restricted Shares that have not lapsed as of the date of Executive’s Retirement
shall continue to vest according to the vesting schedule set forth in Section 2
of this Award, provided that a sufficient number of shares shall vest at the
time said Restricted Shares become taxable to Executive to cover applicable tax
withholding required pursuant to Section 6; further provided, that if
after reaching Retirement, Executive becomes, either directly or indirectly,
employed with a Competitor, all unvested Restricted Shares shall be immediately
forfeited.  “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.  “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 without the prior written consent of the Company.  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: [INSERT LIST OF
COMPETITORS]

 

4.             Book Entry Account.  Within a reasonable time after the date
of this Award, the Company shall instruct its transfer agent to establish a
book entry account representing the Restricted Shares Executive’s name
effective as of the grant date, provided that the Company shall retain control
of such account until the Restricted Shares have become vested in accordance
with the Award.

 

5.             Stockholder Rights.  Upon the effective date of the book entry
pursuant to Section 4, Executive shall have all of the rights of a
stockholder with respect to the Restricted 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. 
Notwithstanding the foregoing, any stock dividends or other in-kind dividends
or distributions shall be held by the Company until the related Restricted
Shares have become vested in accordance with this Award and shall remain
subject to the forfeiture provisions applicable to the Restricted Shares to
which such dividends or distributions relate.

 

6.             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 Restricted 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
shares of the Company’s common stock (including 

 

 

 

 

 

 

 

 

 

 

 

2

 

shares then vesting under this Award).   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.

 

                7.             Transferability.  Except as otherwise provided in this Section 7,
the Restricted Shares shall not be sold, pledged, assigned, hypothecated,
transferred or disposed of in any manner, whether by the operation of law or
otherwise.  Executive may transfer the
Restricted Shares, in whole or in part, to a spouse or lineal descendant (a
“Family Member”), a trust for the exclusive benefit of Executive and/or Family
Members, a partnership or other entity in which all the beneficial owners are
Executive and/or Family Members, or any other entity affiliated with Executive
that may be approved by the Committee (a “Permitted Transferee”).  Subsequent transfers of the Restricted Shares
shall be prohibited except in accordance with this Section 7. All terms
and conditions of the Restricted Shares, including provisions relating to the
termination of Executive’s employment with the Company, shall continue to apply
following a transfer made in accordance with this Section 7.  Any attempted transfer of the Restricted
Shares prohibited by this Section 7 shall be null and void.

 

8.             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 incorporated herein 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.

 

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

 

10.           Notice.  Any written notice
required or permitted by this Award shall be mailed, 

 

 

 

 

 

 

 

 

 

 

3

 

certified
mail (return receipt requested) or hand-delivered, addressed to Company’s
Executive Vice President — Human Resources at Company’s corporate headquarters
at 2455 Paces Ferry Road, N.W., Atlanta, Georgia 30339-4024, or to Executive at
his 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 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 its subsidiary or interfere
in any way with the right of the Company or any such subsidiary to terminate
Executive’s services at any time, the right of the Company or its subsidiary to
assign Executive to a position that is ineligible for this restricted stock
grant, or the right of Executive to terminate his services at any time.

 

(b)           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 date that the Company and its
affiliates denies the claim made by Executive or any earlier date that the
claim otherwise accrues.

 

(c)           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.

 

(d)           Controlling Law.  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
concurrent 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.

 

(e)           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 the Employment
Agreement between Executive and Company, if any. There are no other
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.

 

(f)            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.

 

 

*********************************

 

 

 

 

 

 

 

 

4

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