Home Depot 2015 Annual Report Download - page 74

Download and view the complete annual report

Please find page 74 of the 2015 Home Depot annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 91

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91

Exhibit 10.35
Page 1 of 11
SEPARATION AGREEMENT & RELEASE
This is an Agreement between The Home Depot, Inc. (the "Company") and MARC D. POWERS (the
"Executive").
WHEREAS, subject to the terms herein, Company and Executive intend the terms and conditions of this
Agreement to govern all issues related to Executive's employment and termination from Company and its subsidiaries
and, except as otherwise expressly provided herein, is intended to supersede and replace the provisions set forth in
any of the Executive’s employment letters; and
WHEREAS, Executive acknowledges that the Executive has been given a reasonable period of time, up to
and including twenty-one (21) days, to consider the terms of this Agreement; and
WHEREAS, Company advises Executive to consult with a lawyer before signing this Agreement; and
WHEREAS, Executive acknowledges that the consideration provided to Executive under this Agreement is
sufficient to support the releases provided by the Executive under this Agreement; and
WHEREAS, Executive represents that the Executive has not filed any charges, claims or lawsuits against
Company involving any aspect of the Executive’s employment that have not been terminated as of the date of this
Agreement; and
WHEREAS, Executive understands that Company regards the above representations by the Executive as
material terms of this Agreement and that Company is relying on these representations in entering into this Agreement,
NOW, THEREFORE, Company and Executive agree as follows:
1. Termination Date. Executive’s termination date shall be February 1, 2016 ("Termination Date"), which shall
be the day immediately following the Executive’s last day of work. Executive hereby resigns, effective as of the
Termination Date, from any and all positions as an officer or member of the board of directors, as applicable, of The
Home Depot, Inc., Home Depot U.S.A., Inc. and each of their parents, subsidiaries and affiliated companies. Executive
shall not accrue any vacation days or vacation credit subsequent to the Termination Date. Any remaining accrued,
unused vacation will be paid in accordance with the Company’s Standard Operating Procedure for Time-off Benefits.
2. Separation Payment. Executive shall receive eighteen (18) monthly separation payments of $55,833.33 each,
subject to applicable tax withholding, commencing within forty-five (45) days of the Termination Date.