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Exhibit 10.35
Office
DEPOT
September 8, 2005
Ms. Daisy Vanderlinde
P
ERSONAL AND CONFIDENTIAL
Dear Daisy:
It is with great pleasure that I offer you the position of Executive Vice President, Human Resources at Office Depot, Inc. We are
looking forward to your participation on our team in this role. This letter sets forth the terms of the offer.
2200 Old Germantown Road, Delra
y
Beach, FL 33445 tel. 561-438-4800
Position:
Executive Vice President, Human Resources
Location:
Cor
p
orate Head
q
uarters, Delra
y
Beach, F
L
Start Date:
October 31, 2005
Base Salary:
$416,000
p
er annum.
Annual Bonus Opportunity:
You will be eligible to participate in the Corporate Bonus Program, with a target bonus
percentage equal to 60% of your base salary. In order to be entitled to a bonus for any fiscal
year, you generally must remain employed when the bonuses are distributed. In addition to
participation in the annual bonus program beginning in 2006, you will receive a guaranteed
bonus calculated at tar
g
et,
p
rorated for the
p
eriod of
y
our em
p
lo
y
ment durin
g
2005.
Stock Compensation:
You will be eligible to participate in Office Depot’s Long-Term Equity Incentive Plan
commensurate with your position, beginning in the first quarter of 2006. The specific number,
type and value of stock-based awards are determined annually by the Compensation
Committee of the Board of Directors. If you had received a grant in 2005 at your level, the
award would have been 40,000 stock options and 20,000 performance contingent restricted
shares. The ratio of options to restricted stock may change in the future, but you will always
receive an award that is a
pp
ro
p
riate to
y
our level amon
g
our senior executives.