This excerpt taken from the HD 8-K filed Aug 20, 2007.


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.

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