Exhibit 10.10
LOWE’S
COMPANIES
EMPLOYEE STOCK PURCHASE
PLAN-
STOCK OPTIONS FOR
EVERYONE
As Amended and Restated Effective
December 1, 2008
TABLE OF CONTENTS
ARTICLE I -
DEFINITIONS ........................................................................................................................................................................................................1
1.01 Administrator ........................................................................................................................................................................................................1
1.02 Affiliate
..................................................................................................................................................................................................................1
1.03 Board ......................................................................................................................................................................................................................1
1.04 Change
in
Control ................................................................................................................................................................................................1
1.05 Code ......................................................................................................................................................................................................................
2
1.06 Common
Stock ......................................................................................................................................................................................................2
1.07 Company ................................................................................................................................................................................................................2
1.08 Compensation. ......................................................................................................................................................................................................2
1.09 Control
Change
Date ............................................................................................................................................................................................3
1.10 Date
of
Exercise .....................................................................................................................................................................................................3
1.11 Date
of
Grant ..........................................................................................................................................................................................................3
1.12 Election
Date ..........................................................................................................................................................................................................3
1.13 Eligible
Employee ..................................................................................................................................................................................................3
1.14 Enrollment
Form .....................................................................................................................................................................................................3
1.15 Enrollment
Period ..................................................................................................................................................................................................3
1.16 Exchange
Act .........................................................................................................................................................................................................3
1.17 Fair
Market
Value ...................................................................................................................................................................................................3
1.18 Five
Percent
Shareholder .....................................................................................................................................................................................4
1.19 Offering
Period .......................................................................................................................................................................................................4
1.20 Option ......................................................................................................................................................................................................................4
1.21 Participant ...............................................................................................................................................................................................................4
1.22 Plan ..........................................................................................................................................................................................................................4
ARTICLE II -
PURPOSES ............................................................................................................................................................................................................4
ARTICLE III
-
ADMINISTRATION ............................................................................................................................................................................................4
ARTICLE IV -
ELIGIBILITY ........................................................................................................................................................................................................5
ARTICLE V -
COMPENSATION
DEDUCTIONS ....................................................................................................................................................................5
5.01 Enrollment
Form
....................................................................................................................................................................................................5
5.02 Participant’s
Account ..........................................................................................................................................................................................5
ARTICLE VI -
OPTION
GRANTS ..............................................................................................................................................................................................5
6.01 Number
of
Shares .................................................................................................................................................................................................5
6.02 Option
Price ...........................................................................................................................................................................................................6
ARTICLE VII
- EXERCISE OF
OPTION ...................................................................................................................................................................................6
7.01 Automatic
Exercise ...............................................................................................................................................................................................6
7.02 Change
in
Control .................................................................................................................................................................................................6
7.03 Nontransferability .................................................................................................................................................................................................6
7.04 Employee
Status ....................................................................................................................................................................................................7
7.05 Delivery
of
Shares .................................................................................................................................................................................................7
7.06 Vesting ....................................................................................................................................................................................................................7
ARTICLE VIII
- WITHDRAWAL AND TERMINATION OF
EMPLOYMENT .................................................................................................................7
8.01 Generally ...............................................................................................................................................................................................................7
8.02 Subsequent
Participation ...................................................................................................................................................................................7
ARTICLE IX -
STOCK SUBJECT TO
PLAN .........................................................................................................................................................................7
9.01 Aggregate
Limit ...................................................................................................................................................................................................7
9.02 Reallocation
of
Shares ........................................................................................................................................................................................8
ARTICLE X -
ADJUSTMENT UPON CHANGE IN COMMON
STOCK ...........................................................................................................................8
ARTICLE XI -
COMPLIANCE WITH LAW AND APPROVAL OF
REGULATORY BODIES ....................................................................................8
ARTICLE XII
- GENERAL
PROVISIONS ..............................................................................................................................................................................8
12.01 Effect
on Employment and
Service ............................................................................................................................................................8
12.02 Unfunded
Plan ..............................................................................................................................................................................................9
12.03 Rules
of
Construction ..................................................................................................................................................................................9
ARTICLE XIII
-
AMENDMENT ................................................................................................................................................................................................9
ARTICLE XIV
- DURATION OF
PLAN .................................................................................................................................................................................9
ARTICLE XV -
EFFECTIVE DATE OF
PLAN .......................................................................................................................................................................9
ARTICLE I -
DEFINITIONS
1.01
Administrator .
Administrator
means the Lowe’s Companies, Inc. Administrative
Committee.
1.02
Affiliate.
Affiliate means
any “parent corporation” or “subsidiary
corporation” (within the meaning of Section 424 of the Code)
of the Company, including a corporation that becomes an Affiliate
after the adoption of this Plan, that the Administrator designates
as a participating employer in the Plan.
1.03
Board.
Board means the
Board of Directors of the Company or any committee of such Board of
Directors to which, and to the extent, the Board of Directors of
the Company has delegated some or all of its power, authority,
duties or responsibilities with respect to the Plan.
1.04
Change in Control .
Change in
Control means the occurrence of any one of the following
events:
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individuals who
constitute the Board as of December 1, 2008 (the “
Incumbent Directors ”) cease for any reason to
constitute at least a majority of the Board, provided
that any person becoming a director after the Effective Date
and whose election or nomination for election was approved by a
vote of at least a majority of the Incumbent Directors then on the
Board (either by a specific vote or by approval of the proxy
statement of the Company in which such person is named as a nominee
for director, without written objection to such nomination) shall
be an Incumbent Director; provided , however , that
no individual initially elected or nominated as a director of the
Company as a result of an actual or threatened election contest (as
described in Rule 14a-11 under the Exchange Act) (“
Election Contest ”) or other actual or threatened
solicitation of proxies or consents by or on behalf of any
“person” (as such term is defined in Section 3(a)(9) of
the Exchange Act and as used in Section 13(d)(3) and 14(d)(2) of
the Exchange Act) other than the Board (“ Proxy
Contest ”), including by reason of any agreement intended
to avoid or settle any Election Contest or Proxy Contest, shall be
deemed an Incumbent Director;
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any person
becomes a “beneficial owner” (as defined in Rule 13d-3
under the Exchange Act), directly or indirectly, of securities of
the Company representing 25% or more of the combined voting power
of the Company’s then outstanding securities eligible to vote
for the election of the Board (the “ Company Voting
Securities ”); provided , however , that
the event described in this paragraph (ii) shall not be deemed to
be a Change in Control of the Company by virtue of any of the
following acquisitions: (A) an acquisition directly by or from the
Company or any Affiliate; (B) an acquisition by any employee
benefit plan (or related trust) sponsored or maintained by the
Company or any Affiliate, (C) an acquisition by an underwriter
temporarily holding securities pursuant to an offering of such
securities, or (D) an acquisition pursuant to a Non-Qualifying
Transaction (as defined in paragraph (iii)); or
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the
consummation of a reorganization, merger, consolidation, statutory
share exchange or similar form of corporate transaction involving
the Company that requires the approval of the Company’s
shareholders, whether for such transaction or the issuance of
securities in the transaction (a “Reorganization”), or
the sale or other disposition of all or substantially all of the
Company’s
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