Document:

Exhibit
10.1

 

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 grant date.] [OPTION TWO:  one hundred percent (100%) of the shares
granted shall vest and become transferable upon the [select: third (3rd) or fourth (4th) or fifth (5th)]
anniversary of the 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 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 OPTION TWO VESTING ONLY: Retirement,]
death or permanent and total disability, or if Executive’s 

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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 OPTION TWO 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 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 

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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, 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.

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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)           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.

(c)           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.

(d)           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.

(e)           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.

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

 

 4Exhibit
10.2

 

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 <NONEMPLOYEE
DIRECTOR’S NAME> (“Director”).

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,
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.

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 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, 

 2
 

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.

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 date that the Company denies the claim made by Director or any
earlier date that the claim otherwise accrues.

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(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.

(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.

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

 

 4

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