Document:

Exhibit
10.2

THE HOME DEPOT

FUTUREBUILDER RESTORATION PLAN

(As
Amended and Restated Effective January 1, 2008)

THE
HOME DEPOT

FUTUREBUILDER RESTORATION PLAN

On
this 16th day of August, 2008, The Home Depot, Inc., a
corporation duly organized and existing under the laws of the State of Delaware
(the “Controlling Company”), hereby amends and restates The Home Depot
FutureBuilder Restoration Plan (the “Plan”).

BACKGROUND AND PURPOSE

A.            Background.  The Plan initially was adopted effective as
of January 1, 1994 and was amended and restated effective
December 31, 1998.  The Plan, as set
forth in this document, is an amendment and restatement and continuation of the
Plan as previously in effect. This restatement generally is effective as of
January 1, 2008.

B.            General
Purpose.  The Controlling
Company sponsors The Home Depot FutureBuilder (“FutureBuilder”), a 401(k) and
stock ownership plan qualified under Code §§ 401(a) and 4975(e)(7) of the
Internal Revenue Code of 1986, as amended (the “Code”).  The primary purpose of the Plan is to provide
additional retirement income to certain key executive employees of the
Controlling Company and its affiliates that are participating companies in the
Plan, in order to reduce the impact of certain provisions of the Code that limit
the maximum benefits that may accrue under FutureBuilder.  In particular, the Controlling Company
intends for the Plan to at least partially offset the effects of the Section
401(a)(17) Limitation, by providing the amount of supplemental retirement income
specified in the Plan.

C.            Purpose
of this Restatement.  The
primary purpose of this amendment and restatement of the Plan is to incorporate
amendments made to the Plan since the previous restatement and to amend the
Plan to comply with the applicable requirements of Code § 409A.

D.            Type
of Plan.  The Plan
constitutes an unfunded, nonqualified deferred compensation plan that benefits
certain designated employees who are within a select group of key management or
highly compensated employees.

STATEMENT OF AGREEMENT

To
amend and restate the Plan with the purposes and goals as hereinabove
described, the Controlling Company hereby sets forth the terms and provisions
as follows:

Table
of Contents

	
  

  	
   

  	
  Page

  
	
  Article I DEFINITIONS

  	
   

  	
  1

  
	
  1.1

  	
   

  	
  “Account”

  	
   

  	
  1

  
	
  1.2

  	
   

  	
  “Active Participant”

  	
   

  	
  1

  
	
  1.3

  	
   

  	
  Administrative Committee”

  	
   

  	
  1

  
	
  1.4

  	
   

  	
  “Allocation Date”

  	
   

  	
  1

  
	
  1.5

  	
   

  	
  “Beneficiary”

  	
   

  	
  1

  
	
  1.6

  	
   

  	
  “Board”

  	
   

  	
  1

  
	
  1.7

  	
   

  	
  “Code”

  	
   

  	
  1

  
	
  1.8

  	
   

  	
  “Code § 409A Account”

  	
   

  	
  1

  
	
  1.9

  	
   

  	
  “Company”

  	
   

  	
  1

  
	
  1.10

  	
   

  	
  “Company Stock”

  	
   

  	
  1

  
	
  1.11

  	
   

  	
  “Compensation”

  	
   

  	
  1

  
	
  1.12

  	
   

  	
  “Controlled Group”

  	
   

  	
  2

  
	
  1.13

  	
   

  	
  “Controlling Company”

  	
   

  	
  2

  
	
  1.14

  	
   

  	
  “Disability”

  	
   

  	
  2

  
	
  1.15

  	
   

  	
  “Eligible Employee”

  	
   

  	
  2

  
	
  1.16

  	
   

  	
  “Employee”

  	
   

  	
  2

  
	
  1.17

  	
   

  	
  “ERISA”

  	
   

  	
  2

  
	
  1.18

  	
   

  	
  “FutureBuilder”

  	
   

  	
  2

  
	
  1.19

  	
   

  	
  “FutureBuilder Compensation”

  	
   

  	
  2

  
	
  1.20

  	
   

  	
  “Participant”

  	
   

  	
  2

  
	
  1.21

  	
   

  	
  “Participating Company”

  	
   

  	
  2

  
	
  1.22

  	
   

  	
  “Plan”

  	
   

  	
  2

  
	
  1.23

  	
   

  	
  “Plan Year”

  	
   

  	
  2

  
	
  1.24

  	
   

  	
  “Section 401(a)(17) Limitation”

  	
   

  	
  3

  
	
  1.25

  	
   

  	
  “Separation from Service”

  	
  3

  
	
   

  	
   

  	
  (a)

  	
  Leaves of Absence

  	
  3

  
	
   

  	
   

  	
  (b)

  	
  Status Change

  	
  3

  
	
   

  	
   

  	
  (c)

  	
  Termination of Employment

  	
  3

  
	
   

  	
   

  	
  (d)

  	
  Service with Affiliates

  	
  4

  
	
  1.26

  	
   

  	
  “Specified Employee”

  	
  4

  
	
  1.27

  	
   

  	
  “Stock Unit”

  	
   

  	
  4

  
	
  1.28

  	
   

  	
  “Surviving Spouse”

  	
   

  	
  4

  
	
  1.29

  	
   

  	
  “Trust or Trust Agreement”

  	
   

  	
  4

  
	
  1.30

  	
   

  	
  “Trustee”

  	
   

  	
  4

  
	
  1.31

  	
   

  	
  “Trust Fund”

  	
   

  	
  5

  
	
  Article II ELIGIBILITY AND PARTICIPATION

  	
   

  	
  5

  
	
  2.1

  	
   

  	
  Eligibility

  	
   

  	
  5

  
							

 

 i
 

 

	
  2.2

  	
   

  	
  Cessation of Eligibility and Participation

  	
   

  	
  5

  
	
  Article III contributions AND ACCOUNTS

  	
   

  	
  5

  
	
  3.1

  	
   

  	
  Annual Benefit Allocation

  	
   

  	
  5

  
	
  3.2

  	
   

  	
  Crediting of Stock Units

  	
   

  	
  5

  
	
  3.3

  	
   

  	
  Participant Accounts

  	
  5

  
	
   

  	
   

  	
  (a)

  	
  Establishment of Accounts

  	
  5

  
	
   

  	
   

  	
  (b)

  	
  Nature of Contributions and Accounts

  	
  6

  
	
   

  	
   

  	
  (c)

  	
  Account Balance

  	
  6

  
	
   

  	
   

  	
  (d)

  	
  Cash Dividends

  	
  6

  
	
   

  	
   

  	
  (e)

  	
  Adjustments for Stock Dividends and Splits

  	
  6

  
	
   

  	
   

  	
  (f)

  	
  Value of Account

  	
  6

  
	
   

  	
   

  	
  (g)

  	
  Value of Company Stock

  	
  7

  
	
  3.4

  	
   

  	
  Vesting

  	
  7

  
	
  3.5

  	
   

  	
  Notice to Participant of Account Balances

  	
   

  	
  7

  
	
  3.6

  	
   

  	
  Good Faith Valuation Binding

  	
   

  	
  7

  
	
  3.7

  	
   

  	
  Errors and Omissions in Accounts

  	
   

  	
  7

  
	
  Article IV PAYMENT OF ACCOUNT BALANCES

  	
   

  	
  7

  
	
  4.1

  	
   

  	
  Benefit Payments

  	
   

  	
  7

  
	
  4.2

  	
   

  	
  Form of Distribution

  	
   

  	
  8

  
	
  4.3

  	
   

  	
  Beneficiary Designation

  	
  8

  
	
   

  	
   

  	
  (a)

  	
  General

  	
  8

  
	
   

  	
   

  	
  (b)

  	
  No Designation or Designee Dead or Missing

  	
  8

  
	
  4.4

  	
   

  	
  Taxes

  	
  8

  
	
  4.5

  	
   

  	
  Unclaimed Benefits

  	
   

  	
  8

  
	
  4.6

  	
   

  	
  Distributions to HD Supply Participants

  	
   

  	
  9

  
	
  Article V CLAIMS

  	
   

  	
  9

  
	
  Article VI SOURCE OF FUNDS; TRUST

  	
   

  	
  9

  
	
  6.1

  	
   

  	
  Source of Funds

  	
   

  	
  9

  
	
  6.2

  	
   

  	
  Trust

  	
   

  	
  9

  
	
  Article VII ADMINISTRATIVE COMMITTEE

  	
   

  	
  10

  
	
  7.1

  	
   

  	
  Action

  	
   

  	
  10

  
	
  7.2

  	
   

  	
  Rights and Duties

  	
   

  	
  10

  
	
  7.3

  	
   

  	
  Compensation, Indemnity and Liability

  	
   

  	
  11

  
	
  Article VIII AMENDMENT AND TERMINATION

  	
   

  	
  11

  
	
  8.1

  	
   

  	
  Amendments

  	
   

  	
  11

  
	
  8.2

  	
   

  	
  Termination of Plan

  	
   

  	
  11

  
	
  Article IX MISCELLANEOUS

  	
   

  	
  12

  
	
  9.1

  	
   

  	
  Taxation

  	
   

  	
  12

  
	
  9.2

  	
   

  	
  No Employment Contract

  	
   

  	
  12

  
	
  9.3

  	
   

  	
  Headings

  	
   

  	
  12

  
	
  9.4

  	
   

  	
  Gender and Number

  	
   

  	
  12

  
	
  9.5

  	
   

  	
  Assignment of Benefits

  	
   

  	
  12

  
	
  9.6

  	
   

  	
  Legally Incompetent

  	
   

  	
  12

  
						

 

 ii
 

 

	
  9.7

  	
   

  	
  Plan Expenses

  	
   

  	
  12

  
	
  9.8

  	
   

  	
  Offsets

  	
   

  	
  12

  
	
  9.9

  	
   

  	
  Severability

  	
   

  	
  13

  
	
  9.10

  	
   

  	
  Governing Law

  	
   

  	
  13

  

 

 iii

Article I

DEFINITIONS

For purposes of
the Plan, the following terms, when used with an initial capital letter, shall
have the meaning set forth below unless a different meaning plainly is required
by the context.

1.1           “Account” means, with respect to a Participant or
Beneficiary, the total dollar amount, value and/or number of Stock Units
evidenced by the last balance posted in accordance with the terms of the Plan
to the account record established for such Participant or Beneficiary.

1.2           “Active Participant”  means an Eligible Employee who (i) remains employed with
the Company, all other members of the Controlled Group and any other company
that the Administrative Committee designates for purposes of the Plan as an
affiliate of the Company, through the end of the Plan Year and (ii) completes
such forms and provides such data, if any, as may be required by the
Administrative Committee as a precondition of participation in the Plan.

1.3           “Administrative Committee” means the administrative
committee of FutureBuilder, or such other committee as shall be appointed by
the Board to administer the Plan.

1.4           “Allocation Date” means, with respect to a Plan Year,
the January 31 immediately following such Plan Year.

1.5           “Beneficiary” means, with respect to a Participant,
the persons designated or otherwise determined in accordance with Section 4.3
to receive any death benefits that may be payable under the Plan upon the death
of the Participant.

1.6           “Board” means the Board of Directors of the
Controlling Company.  In the event the
Plan provides that the Controlling Company shall act, such action shall be
taken by the Board unless the Board has authorized and directed the
Administrative Committee or other person or entity to act in its stead.

1.7           “Code” means the Internal Revenue Code of 1986, as
amended.

1.8           “Code § 409A Account” means the portion of a
Participant or Beneficiary’s Account that is subject to Code § 409A
(generally all amounts that accrue or become vested after December 31,
2004), as determined in accordance with regulations or other official guidance
issued under Code § 409A.

1.9           “Company” means, collectively, the Controlling
Company and each of the other Participating Companies.

1.10         “Company Stock” means the $.05 par value per share
voting common stock of the Controlling Company.

1.11         “Compensation” means “benefit compensation” as
defined under FutureBuilder  for a Plan
Year, determined without regard to the Section 410(a)(17) Limitation.

1.12         “Controlled Group” means all of the companies that
are either (i) members of the same controlled group of corporations (within the
meaning of Code § 414(b)), or (ii) under common control (within the
meaning of Code § 414(c)), with the Controlling Company.

1.13         “Controlling Company” means The Home Depot, Inc., a
Delaware corporation with its principal place of business in Atlanta, Georgia.

1.14         “Disability” means the Participant’s disability as
provided under the terms of FutureBuilder.

1.15         “Eligible Employee” means, for a Plan Year, an
individual: (i) who is a member of a select group of highly compensated or key
management Employees of the Company; and (ii) who has satisfied the service
requirements to be eligible to receive matching contributions under
FutureBuilder for such Plan Year; and (iii) whose FutureBuilder Compensation
exceeds the Section 401(a)(17) Limitation. 
The Administrative Committee shall determine, from time to time and in
its sole discretion, which Employees satisfy said criteria and such
determination shall be binding.

1.16         “Employee” means an individual who is considered an
employee of the Company  for purposes of
FutureBuilder.

1.17         “ERISA” means the Employee Retirement Income Security
Act of 1974, as amended.

1.18         “FutureBuilder” means The Home Depot FutureBuilder, a
401(k) and employee stock ownership plan qualified under Code §§ 401(a)
and 4975(e)(7) and sponsored by the Controlling Company, and all amendments
thereto.

1.19         “FutureBuilder Compensation” means the actual amount
of benefit compensation taken into account under FutureBuilder for a Plan Year,
after excluding amounts in excess of the Section 401(a)(17) Limitation.

1.20         “Participant” means any individual who has been
admitted to, and has not been removed from, participation in the Plan pursuant
to the provisions of Article II.

1.21         “Participating Company” means, individually, the
Controlling Company and each of its affiliates that is a participating company
in FutureBuilder, unless the Board or Administrative Committee has specifically
excluded such a company from participation in the Plan.

1.22         “Plan” means The Home Depot FutureBuilder Restoration
Plan as contained herein and all amendments hereto.  The Plan is intended to be an unfunded,
nonqualified deferred compensation plan covering certain designated Employees
who are within a select group of key management or highly compensated
Employees.

1.23         “Plan Year” means the 12-consecutive-month period
ending on December 31 of each year.

 2
 

1.24         “Section 401(a)(17) Limitation” means the limitation
imposed under Code § 401(a)(17) that establishes, subject to
cost-of-living adjustments, a maximum amount of compensation that can be taken
into account for any year under a retirement plan qualified under Code
§ 401(a).

1.25         “Separation from Service” means the date that the
Participant separates from service within the meaning of Code § 409A.  Generally, a Participant separates from
service if the Participant dies, retires, or otherwise has a termination of
employment with the Company, determined in accordance with the following:

(a)           Leaves of Absence. 
The employment relationship is treated as continuing intact while the
Participant is on military leave, sick leave, or other bona fide leave of
absence if the period of such leave does not exceed six (6) months, or, if
longer, so long as the Participant retains a right to reemployment with the
Company under an applicable statute or by contract.  A leave of absence constitutes a bona fide
leave of absence only if there is a reasonable expectation that the Participant
will return to perform services for the Company.  If the period of leave exceeds six (6) months
and the Participant does not retain a right to reemployment under an applicable
statute or by contract, the employment relationship is deemed to terminate on
the first date immediately following such six-month period.  Notwithstanding the foregoing, where a leave
of absence is due to any medically determinable physical or mental impairment
that can be expected to result in death or can be expected to last for a continuous
period of not less than six (6) months, where such impairment causes the
Participant to be unable to perform the duties of his or her position of
employment or any substantially similar position of employment, a twenty-nine
(29) month period of absence shall be substituted for such six (6) month
period.

(b)           Status Change. 
Generally, if a Participant performs services both as an Employee and an
independent contractor, such Participant must separate from service both as an
Employee, and as an independent contractor pursuant to standards set forth in
Treasury regulations or other official guidance, to be treated as having a
Separation from Service.  However, if a
Participant provides services to the Company as an Employee and as a member of
the Board of Directors, the services provided as a director are not taken into
account in determining whether the Participant has a Separation from Service as
an Employee for purposes of this Plan.

(c)           Termination of Employment.  Whether a termination of employment has
occurred is determined based on whether the facts and circumstances indicate
that the Company and the Participant reasonably anticipated that no further
services would be performed after a certain date or that the level of bona fide
services the Participant would perform after such date (whether as an employee
or as an independent contractor) would permanently decrease to no more than
twenty percent (20%) of the average level of bona fide services performed
(whether as an employee or an independent contractor) over the immediately
preceding thirty-six (36)-month period (or the full period of services to the
Company if the Participant has been providing services to the Company less than
36 months).  Facts and circumstances to
be considered in making this determination include, but are not limited to,
whether the Participant continues to be treated as an Employee for other
purposes

 3
 

(such as continuation of salary and participation in
employee benefit programs), whether similarly situated service providers have
been treated consistently, and whether the Participant is permitted, and
realistically available, to perform services for other service recipients in
the same line of business.  For periods
during which a Participant is on a paid bona fide leave of absence and has not
otherwise terminated employment as described above, for purposes of this
paragraph (c) the Participant is treated as providing bona fide services at a
level equal to the level of services that the Participant would have been
required to perform to receive the compensation paid with respect to such leave
of absence.  Periods during which a
Participant is on an unpaid bona fide leave of absence and has not otherwise
terminated employment are disregarded for purposes of this subsection (c) (including
for purposes of determining the applicable 36-month (or shorter) period).

(d)           Service with Affiliates. 
For purposes of determining whether a Separation from Service has
occurred under the above provisions, the “Company” shall include the
Controlling Company and all entities that would be treated as a single employer
with the Controlling Company under Code § 414(b) or (c), but substituting “at
least 50 percent”  instead of “at least 80 percent”
each place it appears in applying such rules.

1.26         “Specified Employee” has the meaning given such term
under Code § 409A and the regulations thereunder, provided that the exclusion
of foreign compensation paid to certain non-resident aliens under Treasury
Regulations § 1.415(c)-2(g)(ii) shall apply in determining an employee’s
compensation.  The foregoing definition
shall apply with respect to all nonqualified deferred compensation plans,
within the meaning of Code § 409A, maintained by any member of the Controlled
Group.

1.27         “Stock Unit” means an accounting entry on a
Participating Company’s books, that is equal in value at any time to the
current fair market value of one share of Company Stock, and that represents an
unsecured obligation of the Participating Company to pay that amount to a
Participant in accordance with the terms of the Plan.  A Stock Unit shall not carry any voting,
dividend or other similar rights and shall not constitute an option or any
other right to acquire any equity securities of the Company.

1.28         “Surviving Spouse” means, with respect to a
Participant, the person who is treated as married to such Participant under the
laws of the state in which the Participant resides.  The determination of a Participant’s
Surviving Spouse shall be made as of the date of such Participant’s death.

1.29         “Trust or Trust Agreement” means the separate
agreement or agreements between the Participating Companies and the Trustee
governing the creation of the Trust Fund, and all amendments thereto.

1.30         “Trustee” means the party or parties so designated
from time to time pursuant to the terms of the Trust Agreement.

 4
 

1.31         “Trust Fund” means the total amount of Company Stock,
cash and other property held by the Trustee (or any nominee thereof) at any
time under the Trust Agreement.

Article II

ELIGIBILITY AND PARTICIPATION

2.1           Eligibility.  Each
Eligible Employee for a Plan Year shall be eligible to participate in the Plan
for such Plan Year.

2.2           Cessation of Eligibility and Participation.  An individual who ceases to satisfy any of
the criteria that qualified the individual as an Active Participant at any time
during the Plan Year shall cease participation in the Plan; provided, such
individual shall remain an inactive Participant in the Plan until the earlier
of (i) the date the full value of the individual’s Account (if any) is
forfeited and/or paid in accordance with the terms of the Plan, or (ii) the
date the individual again becomes an Eligible Employee and qualifies under
Section 2.1 to actively participate in the Plan.  During the time that an Employee is an inactive
Participant in the Plan, the individual’s Account shall continue to be adjusted
for cash dividends and changes in Company Stock as provided in Sections  3.3(d)
and (e).

Article III

contributions
AND ACCOUNTS

3.1           Annual Benefit Allocation.  For each Plan Year, each Active Participant
shall have credited to such Active Participant’s Account an amount equal to the
product of (i) the maximum percentage rate of matching contributions under
FutureBuilder for such Plan Year; and (ii) the Active Participant’s
Compensation for such Plan Year in excess of the Section  401(a)(17)
Limitation.

3.2           Crediting of Stock Units.  The amount determined pursuant to Section 3.1
for an Active Participant for a Plan Year shall be credited to the Active
Participant’s Account as of the Allocation Date for such Plan Year and shall be
expressed in terms of whole and fractional Stock Units. The number of Stock
Units credited to an Active Participant’s Account for a Plan Year shall be
determined by dividing (i) the amount determined for the Active
Participant in Section  3.1 for such Plan
Year, by (ii) the per share fair market value of Company Stock on the
Allocation Date for such Plan Year.

3.3           Participant Accounts.

(a)           Establishment of Accounts.  The Administrative Committee shall establish
and maintain an Account on behalf of each Participant.  Each Account shall be credited with the
amount of Stock Units described in Section 3.2. 
Each Participant Account shall be maintained until

 5
 

the value thereof has been forfeited or paid to or on
behalf of such Participant or the Participant’s Beneficiary.

(b)           Nature of Contributions and Accounts.  The Stock Units credited to a Participant’s
Account shall be represented solely by bookkeeping entries, and no monies or
other assets shall actually be set aside for such Participant.  Except as provided in Article VI, all
payments to a Participant under the Plan shall be made from the general assets
of the Company.  The Administrative
Committee or the Board shall allocate the total liability to pay benefits under
the Plan among the Participating Companies in such manner and amount as the
Administrative Committee or the Board (as applicable) in its sole discretion
deems appropriate.  Any assets which may
be acquired by a Participating Company in anticipation of its obligations under
the Plan shall be part of the general assets of such Participating
Company.  A Participating Company’s
obligation to pay benefits under the Plan constitutes a mere promise of such
Participating Company to pay such benefits, and a Participant or Beneficiary
shall be and remain no more than an unsecured, general creditor of such
Participating Company.

(c)           Account Balance. 
Participant’s accrued benefit under the Plan at any time shall be equal
to the value of the Participant’s Account balance; provided, as described in
Section 3.4 and Article IV, only the portion of a Participant’s Account balance
that is vested shall be payable to the Participant.

(d)           Cash Dividends. 
For Stock Units that have been credited to a Participant’s Account on or
before a record date for Company Stock cash dividends and that remain credited
to the Participant’s Account through the corresponding dividend payment date,
the Administrative Committee shall credit to such Participant’s Account a
dollar amount equal to the amount of cash dividends that would have been paid
on the Participant’s Stock Units if each Stock Unit constituted one share of
Company Stock.  Such dollar amount then
will be converted into a number of Stock Units equal to the number of full and
fractional shares of Company Stock that could have been purchased, at fair
market value on the dividend payment date, with such dollar amount.

(e)           Adjustments for Stock Dividends and Splits.  In the event of any subdivision or
combination of the outstanding shares of Company Stock, by reclassification,
stock split, reverse stock split or otherwise, or in the event of the payment
of a stock dividend on Company Stock, or in the event of any other increase or
decrease in the number of outstanding shares of Company Stock, other than the
issuance of shares for value received by the Company or the redemption of
shares for value, the number of Stock Units credited to a Participant’s Account
shall be adjusted upward or downward, as the case may be, to reflect the
subdivision or combination of the outstanding shares.  The amount of increase or decrease in the
number of Stock Units in such event will be equal to the adjustment that would
have been made if each Stock Unit credited to a Participant’s Account
immediately before the event constituted one share of Company Stock.

(f)            Value of Account. 
The value of a Participant’s Account as of any date shall be equal to
the product of (i) the number of Stock Units credited to the Participant’s
Account as of

 6
 

such date (as determined in accordance with the
preceding subsections), and (ii) the per share fair market value of Company
Stock on such date.

(g)           Value of Company Stock. 
For all purposes under the Plan for which the value of Company Stock
must be determined as of any particular date, the fair market value per share
of Company Stock on such date shall be the closing price of Company Stock on
the New York Stock Exchange on such date or, if there were no sales on such
date, the closing price on the nearest preceding date in which sales occurred.
If, for any reason, the fair market value per share of Company Stock cannot be
ascertained or is unavailable for a particular date, the fair market value of
Company Stock on such date shall be determined as of the nearest preceding date
on which the fair market value can be ascertained pursuant to the terms hereof.

3.4           Vesting.  Stock
Units credited to a Participant’s Account for Plan Years beginning before
January 1, 1998, shall vest in accordance with the provisions applicable to the
vesting of ESOP Contributions under FutureBuilder.  Stock Units credited to a Participant’s
Account for Plan Years beginning on or after January 1, 1998, shall vest in
accordance with the provisions applicable to the vesting of matching
contributions under FutureBuilder.

3.5           Notice to Participant of Account Balances.  At least once for each Plan Year, the
Administrative Committee shall cause a written statement of a Participant’s
Account balance to be distributed to the Participant.

3.6           Good Faith Valuation Binding.  In determining the value of the Accounts, the
Administrative Committee shall exercise its best judgment, and all such
determinations of value (in the absence of bad faith) shall be binding upon all
Participants and their Beneficiaries.

3.7           Errors and Omissions in Accounts.  If an error or omission is discovered in the
Account of a Participant or in the amount credited to a Participant’s Account,
the Administrative Committee, in its sole discretion, shall cause appropriate,
equitable adjustments to be made as soon as administratively practicable
following the discovery of such error or omission.

Article IV

PAYMENT
OF ACCOUNT BALANCES

4.1           Benefit Payments. 
If a Participant’s employment with the Company, all other members of the
Controlled Group and any other company that the Administrative Committee
designates for purposes of the Plan as an affiliate of the Company, terminates
for any reason including the Participant’s death, the Participant (or the
Beneficiary or Beneficiaries designated by such Participant in the Participant’s
latest beneficiary designation form filed with the Administrative Committee)
shall be entitled to receive a distribution of the vested number of Stock Units
credited to the Participant’s Account, determined as of the date on which the
distribution is processed.  Such
distribution shall be made as soon as administratively practicable after the
Plan Year in which the

 7
 

Participant terminates employment.  Notwithstanding the foregoing provisions of
this Section 4.1, all amounts in a Participant’s Code § 409A Account shall
be distributed as soon as practicable after the first day of the Plan Year
following the Plan Year in which the Participant’s death or Separation from
Service occurs, and in no event later than the last day of such Plan Year;
provided, however, that no distribution of such amounts on account of a
Specified Employee’s Separation from Service shall be made earlier than six (6)
months after the date of such Separation from Service, unless the Participant
dies during such six-month period.

4.2           Form of Distribution. 
The benefit payable to a Participant (or the Participant’s Beneficiary
or Beneficiaries) under Section 4.1 shall be paid in a single payment in the
form of a number of shares of Company Stock equal to the whole number of Stock
Units credited to the Participant’s Account, with any fractional Stock Unit
being paid, at its fair market value as if it were a fractional share of
Company Stock, in a single-sum, cash payment.

4.3           Beneficiary Designation.

(a)           General. 
Participants shall designate and from time to time may redesignate their
Beneficiaries in such form and manner as the Administrative Committee may
determine.

(b)           No Designation or Designee Dead or Missing.  In the event that: (i) a  Participant dies without designating a
Beneficiary; or (ii) the Beneficiary designated by a Participant is not
surviving when a payment is to be made to such person under the Plan, and no
contingent Beneficiary has been designated; or (iii) the Beneficiary designated
by a Participant cannot be located by the Administrative Committee within one
(1) year from the date benefits are to be paid to such person, then, in any of
such events, the Beneficiary of such Participant with respect to any benefits
that remain payable under the Plan shall be the Participant’s Surviving Spouse,
if any, and if not, the estate of the Participant.

4.4           Taxes.  If the
whole or any part of any Participant’s or Beneficiary’s benefit hereunder shall
become subject to any estate, inheritance, income or other tax which the
Company (or its agent) shall be required to pay or withhold, the Company (or
its agent, as applicable) shall have the full power and authority (i) to
withhold and pay such tax out of any monies or other property in its hand for
the account of the Participant or Beneficiary whose interests hereunder are so
affected and/or (ii) to require the Participant or Beneficiary to pay to
the Company (or its agent, as applicable), in cash or cash equivalent, the
amount of any such tax.  Before making
any payment, the Company (or its agent, as applicable) may require such
releases or other documents from any lawful taxing authority as it shall deem
necessary.  Notwithstanding the foregoing
provision of this Section 4.4, such withholding from a Participant’s Code
§ 409A Account shall be made only to the extent permitted under Code
§ 409A and the regulations thereunder.

4.5           Unclaimed Benefits.  In
the event a Participant or Beneficiary becomes entitled to a distribution from
the Plan and the Administrative Committee is unable to locate such Participant
or Beneficiary (after such diligent efforts as the Administrative Committee in
its sole discretion deems

 8
 

appropriate) by the last day of the Plan Year in which
payment is to be made to the Participant or Beneficiary under this Article IV,
the full Account of the Participant or Beneficiary shall be deemed abandoned
and forfeited as the last day of such Plan Year, and no person shall be
entitled to any payment in respect of such Account.

4.6           Distributions to HD Supply Participants.  Notwithstanding Section 4.1 or anything in
the Plan to the contrary, the Account of each Participant who, during 2007,
ceases to be an Employee of the Controlled Group as a result of the Controlling
Company’s sale of its HD Supply line of business shall be distributed in a
single payment as soon as practicable after January 1, 2008, and in no
event later than December 31, 2008. 
Distributions shall be made under this Section 4.5 without regard to
whether the Participant has incurred a Separation from Service.

Article V

CLAIMS

The claim and review
procedures set forth in Section 7 of The Home Depot Deferred Compensation Plan,
including the limitation on the period for filing lawsuits with respect to
benefits or other matters relating to the Plan, shall apply for purposes of
claims under this Plan.

Article VI

SOURCE
OF FUNDS;
TRUST

6.1           Source of Funds. Except as provided in this Section and
Section 6.2, each Participating Company shall provide the benefits described in
the Plan from the general assets of such Participating Company.  In any event, each Participating Company
ultimately shall have the obligation to pay all benefits due to Participants
and Beneficiaries under the Plan to the extent liability therefor has been
allocated hereunder to such Participating Company.  A Participating Company may, but shall not be
required to, establish a Trust and may pay over funds from time to time to such
Trust (as described in Section 6.2), and, to the extent that funds in such
Trust allocable to the benefits payable under the Plan by such Participating
Company are sufficient, the Trust assets shall be used to pay such
benefits.  If such Trust assets are not
sufficient to pay all such benefits due under the Plan, then such Participating
Company shall have the obligation, and the Participant or Beneficiary, who is
due such benefits, shall look to such Participating Company to provide such
benefits.  The Administrative Committee
or the Board shall allocate the total liability to pay benefits under the Plan
among the Participating Companies in such manner and amount as the
Administrative Committee or the Board (as applicable) in its sole discretion
deems appropriate.

6.2           Trust. 
Participating Company may transfer all or any portion of the funds
necessary to fund benefits accrued hereunder to the Trustee to be held and
administered by the Trustee pursuant to the terms of the Trust Agreement.  Each transfer into the Trust Fund shall be
irrevocable as long as such Participating Company has any liability or
obligations under the Plan to pay benefits, such that

 9
 

the Trust property is in no way subject to use by such
Participating Company; provided, it is the intent of such Participating Company
that the assets held by the Trust are and shall remain at all times subject to
the claims of the general creditors of such Participating Company.  No Participant or Beneficiary shall have any
interest in the assets held by the Trust or in the general assets of any
Participating Company other than as a general, unsecured creditor.  Accordingly, no Participating Company shall
grant a security interest in the assets held by the Trust in favor of the
Participants, Beneficiaries or any creditor.

Article VII

ADMINISTRATIVE COMMITTEE

7.1           Action.  Action of
the Administrative Committee may be taken with or without a meeting of
committee members; provided, action shall be taken only upon the vote or other
affirmative expression of a majority of the committee members qualified to vote
with respect to such action.  If a member
of the committee is a Participant or Beneficiary, the member shall not
participate in any decision which solely affects the member’s own benefit under
the Plan.  For purposes of administering
the Plan, the Administrative Committee shall choose a secretary who shall keep
minutes of the committee’s proceedings and all records and documents pertaining
to the administration of the Plan.  The
secretary may execute any certificate or any other written direction on behalf
of the Administrative Committee.

7.2           Rights and Duties. 
The Administrative Committee shall administer the Plan and shall have
all powers and discretion necessary to accomplish that purpose.

(a)           To construe, interpret
and administer the Plan;

(b)           To make determinations
required by the Plan, and to maintain records regarding Participants’ and
Beneficiaries’ benefits hereunder;

(c)           To compute and certify
to the Company the amount and kinds of benefits payable to Participants and
Beneficiaries, and to determine the time and manner in which such benefits are
to be paid;

(d)           To authorize all
disbursements by the Company pursuant to the Plan;

(e)           To maintain all the
necessary records of the administration of the Plan;

(f)            To make and publish
such rules for the regulation of the Plan as are not inconsistent with the
terms hereof;

(g)           To delegate to other
individuals or entities from time to time the performance of any of its duties
or responsibilities hereunder; and

 10
 

(h)           To hire agents,
accountants, actuaries, consultants and legal counsel to assist in operating
and administering the Plan.

The Administrative Committee shall have the complete
and final discretionary authority to construe and interpret the Plan, to decide
all questions of eligibility for benefits and to determine the amount of such
benefits, and its decisions on such matters shall be binding and conclusive on
all parties.

7.3           Compensation, Indemnity and Liability.  The Administrative Committee and its members
shall serve as such without bond and without compensation for services
hereunder.  All expenses of the
Administrative Committee shall be paid by the Company.  No member of the committee shall be liable
for any act or omission of any other member of the committee, nor for any act
or omission on his own part, excepting his own willful misconduct.  The Company shall indemnify and hold harmless
the Administrative Committee and each member thereof against any and all
expenses and liabilities, including reasonable legal fees and expenses, arising
out of his membership on the committee, excepting only expenses and liabilities
arising out of his own willful misconduct.

Article VIII

AMENDMENT AND TERMINATION

8.1           Amendments.  The
Controlling Company, through action of the Board or the Administrative
Committee, shall have the right, in its sole discretion, to amend the Plan in
whole or in part at any time and from time to time; provided, the
Administrative Committee may not amend the Plan to increase the level of
benefits hereunder without Board approval. 
Any amendment shall be in writing and executed by a duly authorized
officer of the Controlling Company or a member of the Administrative
Committee.  An amendment to the Plan may
modify its terms in any respect whatsoever, and may include, without
limitation, a permanent or temporary freezing of the Plan such that the Plan
shall remain in effect with respect to existing Account balances without
permitting any new contributions; provided, no such action may reduce the
amount already credited to a Participant’s Account without the affected
Participant’s written consent.  All
Participants and Beneficiaries shall be bound by such amendment.

8.2           Termination of Plan. 
The Controlling Company expects to continue the Plan but reserves the
right to discontinue and terminate the Plan at any time, for any reason.  Any action to terminate the Plan shall be
taken by the Board in the form of a written Plan amendment executed by a duly
authorized officer of the Controlling Company. 
If the Plan is terminated, each Participant shall become one hundred
percent (100%) vested in his Account which shall be distributed in a single
payment of Company Stock and cash, in the manner prescribed in Section 4.2, as
soon as practicable after the date the Plan is terminated; provided, however,
that Code § 409A Accounts shall be distributed in accordance with Treas. Reg.
§ 1.409A-3(j)(4)(ix) so long as the requirements of such section are
satisfied, otherwise, such Code Section 409A Accounts shall continue to be
distributed in accordance with Article IV. 
The amount of any such distribution shall be determined

 11
 

as of the date such termination distribution is to be
processed.  Such termination shall be
binding on all Participants and Beneficiaries.

Article IX

MISCELLANEOUS

9.1           Taxation.  It is
the intention of the Company that the benefits payable hereunder shall not be
deductible by the Company nor taxable for federal income tax purposes to
Participants or Beneficiaries until such benefits are paid by the Company, or
the Trust, as the case may be, to such Participants or Beneficiaries.  When such benefits are so paid, it is the
intention of the Company that they shall be deductible by the Company under
Code § 162.

9.2           No Employment Contract. 
Nothing herein contained is intended to be nor shall be construed as
constituting a contract or other arrangement between the Company and any
Participant to the effect that the Participant will be employed by the Company
for any specific period of time.

9.3           Headings.  The
headings of the various articles and sections in the Plan are solely for
convenience and shall not be relied upon in construing any provisions
hereof.  Any reference to a section shall
refer to a section of the Plan unless specified otherwise.

9.4           Gender and Number. 
Use of any gender in the Plan will be deemed to include all genders when
appropriate, and use of the singular number will be deemed to include the
plural when appropriate, and vice versa in each instance.

9.5           Assignment of Benefits. 
The right of a Participant or Beneficiary to receive payments under the
Plan may not be anticipated, alienated, sold, assigned, transferred, pledged,
encumbered, attached or garnished by creditors of such Participant or
Beneficiary, except by will or by the laws of descent and distribution and then
only to the extent permitted under the terms of the Plan.

9.6           Legally Incompetent. 
The Administrative Committee, in its sole discretion, may direct that
payment be made on behalf of an incompetent or disabled person, whether because
of minority or mental or physical disability, to the guardian of such person or
to the person having custody of such person, without further liability on the
part of the Company for the amount of such payment to the person on whose
account such payment is made.

9.7           Plan Expenses. 
Unless paid by the Participating Company, expenses of administering the
Plan shall be paid by the Participants, except as otherwise provided herein,
and shall be debited among Participant Accounts in proportion to the
Participant’s Account balance to total Account balances.

9.8           Offsets.  As a
condition to eligibility to participate in the Plan, each Participant consents
to the deduction from amounts otherwise payable under the Plan to the
Participant and the

 12
 

Participant’s Beneficiaries all amounts owed by the
Participant to the Participating Company and the Participating Company and its
affiliates to the maximum extent permitted by applicable law.

9.9           Severability.  The
invalidity or unenforceability of any provision in this Plan shall not in any
way affect the validity or enforceability of any other provision and the Plan
shall be construed in all respects as if such invalid or unenforceable
provision had never been in the Plan.

9.10         Governing Law. 
The Plan shall be construed, administered and governed in all respects
in accordance with applicable federal law (including ERISA) and, to the extent
not preempted by federal law, in accordance with the laws of the State of
Georgia.  If any provisions of this
instrument shall be held by a court of competent jurisdiction to be invalid or
unenforceable, the remaining provisions hereof shall continue to be fully
effective.

9.11         Code
§409A.  The plan is
intended to comply with the applicable requirements of Code Section 409A with
respect to a Participant’s Section 409A Account hereunder, and shall be
interpreted and administered to the extent possible in a manner consistent with
the foregoing statement of intent.

IN WITNESS
WHEREOF, the Controlling Company has caused the amended and restated Plan to be
executed by its duly authorized officer on the                 
day of August, 2007.

	
  

  	
   

  	
  THE HOME DEPOT, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Timothy M. Crow

  
	
   

  	
   

  	
  Executive Vice President—Human Resources

  

 

 13Exhibit 10.3

THE HOME DEPOT, INC.

NONEMPLOYEE DIRECTORS’ DEFERRED

STOCK COMPENSATION PLAN

As
Amended and Restated

Effective January 1, 2008

THE
HOME DEPOT, INC.

NONEMPLOYEE
DIRECTORS’ DEFERRED

STOCK COMPENSATION PLAN

Table of Contents

	
  

  	
   

  	
   

  	
   

  	
  Page

  
	
  Article I INTRODUCTION

  	
   

  	
  1

  
	
  1.1

  	
   

  	
  Establishment

  	
   

  	
  1

  
	
  1.2

  	
   

  	
  Purpose

  	
   

  	
  1

  
	
  Article II DEFINITIONS

  	
   

  	
  1

  
	
  2.1

  	
   

  	
  “Board”

  	
   

  	
  1

  
	
  2.2

  	
   

  	
  “Code”

  	
   

  	
  1

  
	
  2.3

  	
   

  	
  “Committee”

  	
   

  	
  1

  
	
  2.4

  	
   

  	
  “Company”

  	
   

  	
  1

  
	
  2.5

  	
   

  	
  “Deferral Date”

  	
   

  	
  1

  
	
  2.6

  	
   

  	
  “Deferral Election”

  	
   

  	
  1

  
	
  2.7

  	
   

  	
  “Director”

  	
   

  	
  1

  
	
  2.8

  	
   

  	
  “Effective Date”

  	
   

  	
  1

  
	
  2.9

  	
   

  	
  “Fair Market Value”

  	
   

  	
  1

  
	
  2.10

  	
   

  	
  “Fees”

  	
   

  	
  2

  
	
  2.11

  	
   

  	
  “Nonemployee Director”

  	
   

  	
  2

  
	
  2.12

  	
   

  	
  “Non-Section 409A Account”

  	
   

  	
  2

  
	
  2.13

  	
   

  	
  “Participant”

  	
   

  	
  2

  
	
  2.14

  	
   

  	
  “Secretary”

  	
   

  	
  2

  
	
  2.15

  	
   

  	
  “Section 409A Account”

  	
   

  	
  2

  
	
  2.16

  	
   

  	
  “Shares”

  	
   

  	
  2

  
	
  2.17

  	
   

  	
  “Stock Units”

  	
   

  	
  2

  
	
  2.18

  	
   

  	
  “Stock Unit Account”

  	
   

  	
  2

  
	
  2.19

  	
   

  	
  “Termination of Service”

  	
   

  	
  2

  
	
  Article III
  SHARES AVAILABLE UNDER THE PLAN

  	
   

  	
  2

  
	
  Article IV ELIGIBILITY

  	
   

  	
  3

  
	
  Article V DEFERRAL ELECTIONS IN LIEU OF CASH
  PAYMENTS

  	
   

  	
  3

  
	
  5.1

  	
   

  	
  Timing of Election

  	
   

  	
  3

  
	
  5.2

  	
   

  	
  Effect and Duration of Election

  	
   

  	
  3

  
	
  5.3

  	
   

  	
  Form of Election

  	
   

  	
  3

  
	
  5.4

  	
   

  	
  Establishment of Stock Unit Account

  	
   

  	
  3

  
	
  5.5

  	
   

  	
  Crediting of Dividend Equivalents

  	
   

  	
  4

  
	
  Article VI SETTLEMENT OF STOCK UNITS

  	
   

  	
  4

  
	
  6.1

  	
   

  	
  Timing of Payment

  	
   

  	
  4

  
	
  6.2

  	
   

  	
  Payment Options

  	
   

  	
  4

  
	
  6.3

  	
   

  	
  Payment Upon Death of a Participant

  	
   

  	
  5

  

 

 

	
  Article VII ADMINISTRATION

  	
   

  	
  5

  
	
  Article VIII UNFUNDED STATUS

  	
   

  	
  5

  
	
  8.1

  	
   

  	
  General

  	
   

  	
  5

  
	
  8.2

  	
   

  	
  Trust

  	
   

  	
  5

  
	
  Article IX DESIGNATION OF BENEFICIARY

  	
   

  	
  5

  
	
  Article X ADJUSTMENT PROVISIONS

  	
   

  	
  6

  
	
  Article XI GENERAL PROVISIONS

  	
   

  	
  6

  
	
  11.1

  	
   

  	
  No Stockholder Rights Conferred

  	
   

  	
  6

  
	
  11.2

  	
   

  	
  Plan Amendment

  	
   

  	
  6

  
	
  11.3

  	
   

  	
  Plan Termination

  	
   

  	
  6

  
	
  11.4

  	
   

  	
  Compliance With Laws And Obligations

  	
   

  	
  6

  
	
  11.5

  	
   

  	
  Limitations on Transferability

  	
   

  	
  6

  
	
  11.6

  	
   

  	
  Limitations of Actions

  	
   

  	
  7

  
	
  11.7

  	
   

  	
  Governing Law

  	
   

  	
  7

  

 

Article I

INTRODUCTION

1.1           Establishment.  The Home Depot, Inc. (the “Company”) has
established The Home Depot, Inc. Nonemployee Directors’ Deferred Stock
Compensation Plan (the “Plan”) for those directors of the Company who are not
employees of the Company.  The Plan
allows Nonemployee Directors to defer the receipt of cash compensation and to
receive such deferred compensation in the form of Shares of common stock of the
Company.

1.2           Purpose.  The Plan is intended to advance the interests
of the Company and its Stockholders by providing a means to attract and retain
qualified persons to serve as Nonemployee Directors and to promote ownership by
Nonemployee Directors of a greater proprietary interest in the Company, thereby
aligning such Directors’ interests more closely with the interests of
Stockholders of the Company.

Article
II

DEFINITIONS

2.1           “Board” means the Board of Directors of
the Company.

2.2           “Code” means the Internal Revenue Code
of 1986, as amended.

2.3           “Committee”means the Board or a
committee appointed to administer the Plan under Article IV.

2.4           “Company” means The Home Depot, Inc., a
Delaware corporation, or any successor thereto.

2.5           “Deferral Date” means the date on which
a Nonemployee Director defers Fees under the Plan.

2.6           “Deferral Election” means a written
election to defer Fees under the Plan.

2.7           “Director” means any individual who
is a member of the Board.

2.8           “Effective Date” means
January 1, 2008, the effective date of the amendment and restatement of
the Plan.

2.9           “Fair Market Value” means the
closing price for the Shares reported on a consolidated basis on the New York
Stock Exchange on the relevant date or, if there were no sales on such date,
the closing price on the nearest preceding date on which sales occurred.

 1
 

2.10         “Fees” means all or part of any
retainer or meeting fees payable in cash to a Nonemployee Director in his or
her capacity as a Director.  Fees shall
not include any expenses paid directly or through reimbursement.

2.11         “Nonemployee Director” means a
Director who is not an employee of the Company or any of its subsidiaries or
affiliates.  For purposes of the Plan, an
employee is an individual whose wages are subject to the withholding of federal
income tax under Code Section 3401.

2.12         “Non-Section 409A Account” means the
portion of a Participant’s Stock Unit Account that was earned and vested,
within the meaning of Code Section 409A, as of December 31, 2004, and is
therefore not subject to Code Section 409A.

2.13         “Participant” means a Nonemployee
Director who defers Fees under Article V of the Plan.

2.14         “Secretary” means the Secretary or
any Assistant Secretary of the Company.

2.15         “Section 409A Account” means the
portion of a Participant’s Stock Unit Account that was not earned and vested,
within the meaning of Code Section 409A, as of December 31, 2004.

2.16         “Shares” means shares of the common
stock of the Company, par value $.05 per share.

2.17         “Stock Units” means the credits to a
Participant’s Stock Unit Account under Article V of the Plan, each of
which represents the right to receive one Share upon settlement of the Stock
Unit Account.

2.18         “Stock Unit Account” means the
bookkeeping account established by the Company pursuant to Section 5.4.

2.19         “Termination of Service” means
termination of service as a Director for any reason other than death; provided,
however, that with respect to a Participant’s Section 409A Account, Termination
of Service shall have the same meaning given the term “Separation from Service”
under Code Section 409A and Treas. Reg. §1.409A-1(h).

Article
III

SHARES AVAILABLE UNDER THE PLAN

As of the original effective date of the Plan, the
maximum number of Shares approved for distribution in settlement of Stock Unit
Accounts under the Plan was 500,000 Shares, subject to adjustment as provided in
Article X.  Such Shares may include
authorized but unissued Shares, treasury shares or Shares that have been
reacquired by the Company.

 2
 

Article
IV

ELIGIBILITY

Each person who is a
Nonemployee Director shall be eligible to defer Fees in accordance with Article V
of the Plan.  If any Nonemployee Director
subsequently becomes an employee of the Company or any of its subsidiaries, but
does not incur a Termination of Service, such Director shall continue as a
Participant with respect to Fees previously deferred, but shall cease
eligibility with respect to all future Fees, if any, earned while an employee.

Article V

DEFERRAL ELECTIONS IN LIEU OF CASH PAYMENTS

5.1           Timing
of Election.  Each
Nonemployee Director may make a Deferral Election on or before the last day of
a calendar year to defer Fees with respect to services performed (or performed
in part) during the next following calendar year.  In addition, any person who is first
appointed a Nonemployee Director on or after the Effective Date may, within 30
days after the date he first becomes a Nonemployee Director, make a Deferral
Election with respect to Fees for services performed after the date of the
Deferral Election.  A Nonemployee
Director who does not make a Deferral Election when first eligible to do so may
make a Deferral Election at any time before the first day of any subsequent
calendar year to be effective for Fees for services performed in such
subsequent calendar year.

5.2           Effect and Duration of Election.  A Deferral Election shall apply to Fees payable
with respect to services performed after the date such election is made and
shall be deemed to be continuing and applicable to all Fees payable in
subsequent calendar years, unless the Participant revokes or modifies such
election by filing a new election form before the first day of any subsequent
calendar year, effective for all Fees for services performed on or after the
first day of such calendar year.  Except
as permitted under Code Section 409A, Deferral Elections shall be irrevocable
during the calendar year with respect to which the Deferral Election is made.

5.3           Form of Election.  A Deferral Election shall be made in a manner
satisfactory to the Committee in accordance with the requirements of Code
Section 409A.  Generally, a Deferral
Election shall be made by completing and filing the specified election form
with the Secretary or his or her designee within the period described in
Section 5.1 or Section 5.2.

5.4           Establishment of Stock Unit Account.  The Company shall establish a Stock Unit Account
for each Participant.  All Fees deferred
pursuant to this Article V shall be credited to the Participant’s Stock Unit
Account as of the Deferral Date and converted to Stock Units.  The number of Stock Units credited to a
Participant’s Stock Unit Account as of a Deferral Date shall equal the amount
of the deferred Fees divided by the Fair Market Value of a Share on such
Deferral Date, with fractional units calculated to three decimal places.  Fractional Stock Units shall be credited
cumulatively, but any fractional Stock Unit in a Participant’s Stock Unit
Account at the time of a distribution under Article VI shall be converted into
cash equal to the Fair Market Value of a corresponding fractional Share on the
date of distribution.

 3
 

5.5           Crediting of Dividend Equivalents.  As of each dividend payment date with respect
to Shares, each Participant shall have credited to his or her Stock Unit
Account a dollar amount equal to the amount of cash dividends that would have
been paid on the number of Shares equal to the number of Stock Units credited
to the Participant’s Stock Unit Account as of the close of business on the
record date for such dividend.  Such
dollar amount shall then be converted into a number of Stock Units equal to the
number of whole and fractional Shares that could have been purchased with such
dollar amount at Fair Market Value on the dividend payment date.

Article
VI

SETTLEMENT OF STOCK UNITS

6.1           Timing of Payment.

(a)           Section 409A Accounts.  A Participant’s Section 409A Account shall in
all events be distributed or begin to be distributed on the first day of the
second calendar month immediately following the month in which the Participant
incurs a Termination of Service.

(b)           Non-Section 409A Accounts.  A Participant shall receive or begin receiving
a distribution of his or her Non-Section 409A Account either (i) on or as
soon as administratively feasible after the first day of the second calendar
month immediately following the month in which the Participant incurs a
Termination of Service, or (ii) if the Participant has made an election to
defer payment in accordance with this Section, on or as soon as
administratively feasible after January 1 of the year immediately
following the date on which the Participant incurs a Termination of Service.  A Participant must deliver an election to
defer the distribution or commencement of distribution of his or her
Non-Section 409A Account to the Secretary or the Secretary’s designee at least
5 months before the date on which the Participant incurs a Termination of
Service.

6.2           Payment Options.

(a)           Forms of Distribution.  A Deferral Election filed under Article V
shall specify whether the Participant’s Stock Unit Account subject to such
Deferral Election is to be settled by delivering to the Participant the number
of Shares equal to the number of whole Stock Units then credited to the
Participant’s Stock Unit Account, in either (i) a lump sum, or
(ii) substantially equal annual installments over a period not to exceed 5
years.  Any fractional Stock Unit credited
to a Participant’s Stock Unit Account at the time of a distribution shall be
paid in cash at the time of such distribution.

(b)           Modifications.  A Participant may not change the manner in
which the Participant has elected that his or her Section 409A Account is to be
distributed.  A Participant may change
the manner in which his or her Non-Section 409A Account is distributed by
delivering a new election form to the Secretary or the Secretary’s designee at
least 5 months before the date on which the Participant incurs a Termination of
Service.

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6.3           Payment Upon Death of a Participant.  If a Participant dies before the entire
balance of his or her Stock Unit Account has been distributed, the balance of
the Participant’s Stock Unit Account shall be paid to the beneficiary
designated by the Participant under Article IX.  Such payment shall be made in a lump sum as
soon as administratively feasible after the Participant’s death, provided that
the Participant’s Section 409A Account shall be distributed on the first day of
the second calendar month immediately following the month in which the
Participant dies.

Article
VII

ADMINISTRATION

The Plan shall be administered by the Board or such
other committee as may be designated by the Board.  The Committee shall have the complete and
final discretionary authority to determine the benefits to which any
Participant or beneficiary may be entitled, to make factual findings with
respect to claims for benefits, and to make all other determinations it deems
necessary or advisable for administering the Plan, subject to the express
provisions of the Plan.  Notwithstanding
the foregoing, no Director who is a Participant under the Plan shall
participate in any determination relating solely or primarily to his or her own
Shares, Stock Units or Stock Unit Account.

Article
VIII

UNFUNDED STATUS

8.1           General.  The interest of each Participant in any Fees
deferred under the Plan (and any Stock Units or Stock Unit Account relating
thereto) shall be that of a general creditor of the Company.  Stock Unit Accounts, and Stock Units credited
thereto, shall at all times be maintained by the Company as bookkeeping entries
evidencing unfunded and unsecured general obligations of the Company.  Except as provided in Section 8.2, no
money or other assets shall be set aside for any Participant.

8.2           Trust. 
To the extent determined by the Board, the Company may transfer funds
necessary to fund all or part of the payments under the Plan to a trust;
provided, the assets held in such trust shall remain at all times subject to
the claims of the general creditors of the Company.  No Participant or beneficiary shall have any
interest in the assets held in such trust or in the general assets of the
Company other than as a general, unsecured creditor.  Accordingly, the Company shall not grant a
security interest in the assets held by the trust in favor of any Participant,
beneficiary or creditor.

Article
IX

DESIGNATION OF BENEFICIARY

Each Participant
may designate, on a form provided by the Committee, one or more beneficiaries
to receive payment of the Participant’s Stock Unit Account in the event of such
Participant’s death.  The Company may
rely upon the beneficiary designation last filed with the Committee, provided
that such form was executed by the Participant or his or her legal
representative and filed with the Committee prior to the Participant’s
death.  If a Participant has not
designated a 

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beneficiary, or if
the designated beneficiary is not surviving when a payment is to be made to
such person under the Plan, the beneficiary with respect to such payment shall
be the Participant’s surviving spouse, or if there is no surviving spouse, the
Participant’s estate.

Article X

ADJUSTMENT PROVISIONS

In the event any
recapitalization, reorganization, merger, consolidation, spin-off, combination,
repurchase, exchange of shares or other securities of the Company, stock split
or reverse split, or similar corporate transaction or event affects Shares such
that an adjustment is determined by the Board or Committee to be appropriate to
prevent dilution or enlargement of Participants’ rights under the Plan, then
the Board or Committee shall, in a manner that is proportionate to the change
to the Shares and is otherwise equitable, adjust the number or kind of Shares
to be delivered upon settlement of Stock Unit Accounts under Article VI.

Article
XI

GENERAL PROVISIONS

11.1         No Stockholder Rights Conferred.  Nothing contained in the Plan will confer
upon any Participant or beneficiary any rights of a Stockholder of the Company,
unless and until Shares are in fact issued or transferred to such Participant
or beneficiary in accordance with Article VI.

11.2         Plan Amendment.  The Board may amend, alter, suspend,
discontinue, extend, or terminate the Plan without the consent of Stockholders
or Participants; provided, no action taken without the consent of an affected
Participant may materially impair the rights of such Participant with respect
to any Stock Units credited to his or her Stock Unit Account at the time of
such change or termination.

11.3         Plan Termination.  Unless earlier terminated by action of the
Board, the Plan will remain in effect until such time as no Shares remain
available for delivery under the Plan and the Company has no further rights or
obligations under the Plan.

11.4         Compliance With Laws And Obligations.  The Company will not be obligated to issue or
deliver Shares in connection with the Plan in a transaction subject to the
registration requirements of the Securities Act of 1933, as amended, or any
other federal or state securities law, any requirement under any listing
agreement between the Company and any national securities exchange or automated
quotation system or any other laws, regulations, or contractual obligations of
the Company, until the Company is satisfied that such laws, regulations and
other obligations of the Company have been complied with in full.  Certificates representing Shares delivered
under the Plan will be subject to such restrictions as may be applicable under
such laws, regulations and other obligations of the Company.

11.5         Limitations on Transferability.  Stock Units and any other right under the
Plan will not be transferable by descent and distribution (or to a designated
beneficiary in the event of a 

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Participant’s
death).  Stock Units and other rights
under the Plan may not be pledged, mortgaged, hypothecated or otherwise
encumbered, and shall not be subject to the claims of creditors of any
Participant.

11.6         Limitations of Actions.  Any lawsuit with respect to any benefit
payable or other matter arising out of or relating to the Plan must be filed no
later than one (1) year after the time the claim arises or be forever barred.

11.7         Governing Law.  The validity, construction and effect of the
Plan and any agreement hereunder shall be determined in accordance with the
State of Georgia.

11.8         Code
§409A.  The plan is
intended to comply with the applicable requirements of Code Section 409A with
respect to a Participant’s Section 409A Account hereunder, and shall be
interpreted and administered to the extent possible in a manner consistent with
the foregoing statement of intent.

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