HD » Topics » Changes to Perquisites for Fiscal 2009

This excerpt taken from the HD DEF 14A filed Apr 15, 2009.

Changes to Perquisites for Fiscal 2009

For Fiscal 2009, we made the following changes to our perquisites:

 

   

Eliminated tax reimbursements on all perquisites;

 

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Table of Contents

EXECUTIVE COMPENSATION

 

   

Consolidated the disability insurance and car allowance perquisites under our SECP program and increased the annual pre-tax allowances accordingly ($125,000 for our CEO, $85,000 for EVPs, and $60,000 for SVPs with no tax gross-up);

 

   

Eliminated the $250,000 death benefit for new officers and increased the benefit for existing officers to $400,000 to reflect the elimination of the tax reimbursement; and

 

   

Discontinued separate Company-paid term life insurance coverage and the Company provided car program.

 

 

Other Benefits.    Our named executive officers have the option to participate in various employee benefit programs, including medical, dental and life insurance benefits and our 401(k) plan. These benefit programs are generally available to all employees. We also provide all employees, including named executive officers, with the opportunity to purchase our common stock through payroll deductions at a 15% discount through our Employee Stock Purchase Plan (the “ESPP”), a nondiscriminatory, tax-qualified plan.

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