HOME DEPOT INC
EXHIBIT 10.4
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<DESCRIPTION>EXHIBIT 10.4
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<P ALIGN="RIGHT"><FONT SIZE=2><A
NAME="km1664_exhibit_10.4"> </A>
<A NAME="toc_km1664_1"> </A>
<BR></FONT><FONT SIZE=2><B>Exhibit 10.4    <BR>    </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="km1664_long-term_incentive_program_pe__lon02673"> </A>
<A NAME="toc_km1664_2"> </A>
<BR></FONT><FONT SIZE=2><B>LONG-TERM INCENTIVE PROGRAM<BR>  PERFORMANCE UNIT AWARD<BR>  (200&nbsp;&nbsp;&nbsp;&nbsp;-200&nbsp;&nbsp;&nbsp;&nbsp;Performance Period)    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Performance Unit Award is made to </FONT><FONT SIZE=2><B>NAME</B></FONT><FONT SIZE=2> on this the&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;day
of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 200&nbsp;&nbsp;&nbsp;&nbsp;,
by THE HOME DEPOT,&nbsp;INC., a Delaware corporation. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="km1664_w_i_t_n_e_s_s_e_t_h_"> </A>
<A NAME="toc_km1664_3"> </A>
<BR></FONT><FONT SIZE=2><B>W I T N E S S E T H:    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><B>WHEREAS</B></FONT><FONT SIZE=2>, the Company has adopted The Home Depot,&nbsp;Inc. 1997 Omnibus Stock Incentive Plan which is
administered by the Committee; and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>WHEREAS</B></FONT><FONT SIZE=2>, Executive is an officer and employee of the Company and is eligible to receive Performance Unit Awards under the Plan; and </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>WHEREAS</B></FONT><FONT SIZE=2>, the Committee approved Executive as an LTIP participant for the 200&nbsp;&nbsp;&nbsp;&nbsp;-200&nbsp;&nbsp;&nbsp;&nbsp;Performance
Period; and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>WHEREAS</B></FONT><FONT SIZE=2>, the LTIP is the vehicle for establishing Performance Objectives for Performance Unit Awards under the Plan; and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>WHEREAS</B></FONT><FONT SIZE=2>, to comply with the terms of the Plan and to further the interests of the Company and Executive, the Company herein sets forth the
terms of such award as follows: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Definitions</I></B></FONT><FONT SIZE=2>.&nbsp;&nbsp;&nbsp;&nbsp;As used herein, the following terms shall be defined as set forth below.
Unless the context otherwise requires, capitalized terms used in this Award and not otherwise defined herein shall have the meanings set forth in the Plan. </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>"Average EPS Growth"</B></FONT><FONT SIZE=2> means the average increase in the Company's EPS over the Performance Period, determined by averaging
the percentage increase in EPS for each fiscal year in the Performance Period. The Committee shall certify Average EPS Growth as soon as practicable after the end of the Performance Period. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>"Award"</B></FONT><FONT SIZE=2> means the Performance Unit Award to Executive as set forth herein, and as may be amended as provided herein. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Beginning EPS"</B></FONT><FONT SIZE=2> means EPS for the fiscal year immediately preceding the Performance Period. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>"Board"</B></FONT><FONT SIZE=2> means the Company's Board of Directors. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>"Committee"</B></FONT><FONT SIZE=2> means the Leadership Development and Compensation Committee of the Board. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>"Common Stock"</B></FONT><FONT SIZE=2> means the Company's $.05 par value common stock. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>"Company"</B></FONT><FONT SIZE=2> means The Home Depot,&nbsp;Inc., a Delaware corporation, with offices at 2455 Paces Ferry Road, Atlanta,
Georgia 30339. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>"Disability"</B></FONT><FONT SIZE=2> means Executive's inability to substantially perform his employment duties with the Company, with reasonable
accommodation, as evidenced by a certificate signed either by a physician mutually acceptable to the Company and Executive or, if the Company and Executive cannot agree upon a physician, by a
physician selected by agreement of a physician designated by the Company and a physician designated by Executive; provided, however, that if such physicians cannot agree upon a third physician within
thirty (30)&nbsp;days, such third physician shall be designated by the American Arbitration Association. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><B>Ending EPS"</B></FONT><FONT SIZE=2> means EPS for last fiscal year of the Performance Period</FONT><FONT SIZE=2><B>.</B></FONT></P>

</UL>
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<UL>
<BR>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>"EPS"</B></FONT><FONT SIZE=2> means, for a fiscal year, the Company's diluted earnings per share of Common Stock, as set forth in the Company's
Annual Report on Form&nbsp;10-K for such fiscal year as filed with the Securities and Exchange Commission. If the Company repurchases any outstanding shares during the Performance
Period, the EPS calculation will exclude the impact of the share repurchases made. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>"Executive"</B></FONT><FONT SIZE=2> means&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, the
Company's&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>"LTIP"</B></FONT><FONT SIZE=2> means the Company's Long-Term Incentive Program that is the vehicle for establishing Performance
Objectives for Performance Unit Awards under the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>"Maximum Award"</B></FONT><FONT SIZE=2> means that maximum number of Performance Units awarded to Executive as set forth in Section&nbsp;2,
representing&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Percent (&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%) of the
Target Award. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>"Performance Period"</B></FONT><FONT SIZE=2> means the Company's three (3)&nbsp;consecutive fiscal years commencing with the fiscal year
beginning&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>"Performance Unit"</B></FONT><FONT SIZE=2> means a bookkeeping entry that records a unit equal to $1.00 granted pursuant to this Award and that
is payable solely in cash. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>"Plan"</B></FONT><FONT SIZE=2> means The Home Depot,&nbsp;Inc. 1997 Omnibus Stock Incentive Plan, as amended from time to time. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>"Retirement"</B></FONT><FONT SIZE=2> means Executive's termination of employment with the Company and its Subsidiaries on or after attainment of
age 60 and completion of at least five (5)&nbsp;years of continuous service. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>"Target Award"</B></FONT><FONT SIZE=2> means that number of Performance Units awarded to Executive as set forth in Section&nbsp;2, representing
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Percent (&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%) of Executive's base salary in effect on the last day of the Company's fiscal year immediately
preceding the Performance Period divided by One Dollar ($1.00). </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Performance Unit Award</I></B></FONT><FONT SIZE=2>.&nbsp;&nbsp;&nbsp;&nbsp;Subject to the conditions set forth herein, Company grants to
Executive a Target Award of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;)
Performance Units under the Plan, and a Maximum Award of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) Performance Units, earned in accordance with
Section&nbsp;3. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Determination of Units Earned.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section&nbsp;5, and provided that Ending
EPS is greater than Beginning EPS, the Company shall deliver to Executive One Dollar ($1.00) for each whole Performance Unit that is earned in accordance with the following schedule. No Performance
Units shall be earned, and this Award shall be forfeited and cancelled effective as of the last day of the Performance Period, if Ending EPS is less than the Beginning&nbsp;EPS. </FONT></P>

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<TR VALIGN="BOTTOM">
<TH WIDTH="48%" ALIGN="CENTER"><FONT SIZE=1><B>Average EPS Growth</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="48%" ALIGN="CENTER"><FONT SIZE=1><B>Percentage of Target Award<BR>
Performance Units Earned</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="48%"><FONT SIZE=2><I>Below Threshold</I></FONT><FONT SIZE=2>: Below&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="48%" ALIGN="RIGHT"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="48%"><FONT SIZE=2><I>Threshold</I></FONT><FONT SIZE=2>:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="48%" ALIGN="RIGHT"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="48%"><FONT SIZE=2><I>Target</I></FONT><FONT SIZE=2>:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="48%" ALIGN="RIGHT"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="48%"><FONT SIZE=2><I>Maximum</I></FONT><FONT SIZE=2>:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% or above</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="48%" ALIGN="RIGHT"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;%</FONT></TD>
</TR>
</TABLE></DIV>
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<P><FONT SIZE=2>The
percentage of Target Award Performance Units earned between threshold and target and target and maximum Average EPS Growth is based on interpolation, as set forth on </FONT> <FONT SIZE=2><I>Schedule&nbsp;A</I></FONT><FONT SIZE=2>. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Payment.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The amount determined under Section&nbsp;3 will be paid to Executive in
cash as soon as administratively practicable after the end of the Performance Period. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Termination of Employment.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Except as provided in Section&nbsp;6, if Executive's
employment with the Company and its Subsidiaries terminates before the end of the Performance Period, this Performance Unit Award shall be forfeited on the date of such termination. </FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Retirement, Death or Disability.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If Executive's employment with the Company and its
Subsidiaries terminates during the final fiscal year in the Performance Period because of Executive's Retirement, death or Disability, Executive shall be entitled to a prorated portion of the
Performance Units earned in accordance with Section&nbsp;3, determined at the end of the Performance Period and based on the ratio of the number of complete months Executive is employed during the
Performance Period to the total number of months in the Performance Period. Any payments due on Executive's death shall be paid to his estate as soon as administratively practicable after the end of
the Performance Period. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Transferability.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Performance Units shall not be sold, pledged, assigned,
hypothecated, transferred or disposed of in any manner, whether by the operation of law or otherwise. Any attempted transfer of the Performance Units prohibited by this Section&nbsp;7 shall be null
and void. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Adjustments.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Committee may make or provide for such adjustment in the Performance
Units as the Committee in its sole discretion may in good faith determine to be equitably required in order to prevent dilution or enlargement of Executive's rights that otherwise would result from
(a)&nbsp;any exchange of shares of the Common Stock, recapitalization or other change in the capital structure of the Company, (b)&nbsp;any merger, consolidation, spin-off,
spin-out, split-off, split-up, reorganization, partial or complete liquidation or other distribution of assets (other than a normal cash dividend), issuance of
rights or warrants to purchase securities, or (c)&nbsp;any other corporate transaction or event having an effect similar to any of the foregoing. Moreover, in the event of any such transaction or
event, the Committee may provide in substitution for the Performance Units such alternative consideration as it may in good faith determine to be equitable under the circumstances and may require in
connection therewith the surrender of the Performance Units so replaced. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Withholding.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Company shall have the right to withhold from payments made to
Executive pursuant to this Award, or to withhold from other compensation payable to Executive, all applicable federal, state and local income and employment taxes (including taxes of any foreign
jurisdiction) which the Company is required to withhold at any time with respect to the Performance Units. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>No Impact On Other Benefits And Employment.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This Award shall not confer upon
Executive any right with respect to continuance of employment or other service with the Company and shall not interfere in any way with any right that the Company would otherwise have to terminate
Executive's employment at any time. Nothing herein contained shall affect Executive's right to participate in and receive benefits under and in accordance with the then current provisions of any
pension, insurance or other
employment plan or program of the Company or any of its subsidiaries nor constitute an obligation for continued employment. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Plan Provisions</I></B></FONT><FONT SIZE=2>.&nbsp;&nbsp;&nbsp;&nbsp;In addition to the terms and conditions set forth herein, this
Award is subject to and governed by the terms and conditions set forth in the Plan, which is hereby incorporated by reference. Unless the context otherwise requires, capitalized terms used in this
Award and not otherwise defined herein shall have the meanings set forth in the Plan. In the event of any conflict between the provisions of this Award and the Plan, the Plan shall control. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT><FONT SIZE=2><B><I>Miscellaneous</I></B></FONT><FONT SIZE=2>.&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Limitation of Rights</B></FONT><FONT SIZE=2>.&nbsp;&nbsp;&nbsp;&nbsp;This Award shall not give Executive any rights to similar grants in future years or
any right to be retained in the employ or service of the Company or to interfere in any way with the right of the Company to terminate Executive's services at any time or the right of Executive to
terminate his or her services at any time. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Rights Unsecured</B></FONT><FONT SIZE=2>.&nbsp;&nbsp;&nbsp;&nbsp;Executive shall have only the Company's unfunded, unsecured promise to pay pursuant to the
terms of this Award. Executive's rights hereunder shall be that of an unsecured general creditor of the Company and Executive shall not have any security interest in any assets of the Company. </FONT></P>

</UL>
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<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Limitation of Actions</B></FONT><FONT SIZE=2>.&nbsp;&nbsp;&nbsp;&nbsp;Any lawsuit with respect to any matter arising out of or relating to this Award must
be filed no later than one (1)&nbsp;year after the Company provides Executive with a written denial of any claim made by Executive hereunder. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Offset.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Company may deduct from amounts otherwise payable under this Award all amounts owed by Executive to
Company and its affiliates to the maximum extent permitted by applicable law. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Controlling Law</B></FONT><FONT SIZE=2>.&nbsp;&nbsp;&nbsp;&nbsp;This Award shall be governed by, and construed in accordance with, the laws of the State of
Georgia (without giving effect to the choice of law principles) and any action arising out of or related thereto shall be brought in either the United States District Court for the Northern District
of Georgia, Atlanta Division, or the Superior Court of Cobb County, Georgia. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Severability</B></FONT><FONT SIZE=2>.&nbsp;&nbsp;&nbsp;&nbsp;If any term, provision, covenant or restriction contained in the Award is held by a court or a
federal regulatory agency of competent jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions contained in the Award shall remain in full
force and effect, and shall in no way be affected, impaired or invalidated. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Construction</B></FONT><FONT SIZE=2>.&nbsp;&nbsp;&nbsp;&nbsp;The Award contains the entire understanding between the parties and supersedes any prior
understanding and agreements between them representing the subject matter hereof. There are no representations, agreements, arrangements or understandings, oral or written, between and among the
parties hereto relating to the subject matter hereof which are not fully expressed herein. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>Headings</B></FONT><FONT SIZE=2>.&nbsp;&nbsp;&nbsp;&nbsp;Section and other headings contained in the Award are for reference purposes only and are in no
way intended to describe, interpret, define or limit the scope, extent or intent of the Award or any provision hereof. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned, Chairman, President and Chief Executive Officer of The Home Depot,&nbsp;Inc., has executed this Award at the direction of the Leadership Development and Compensation
Committee of the Board of Directors on&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 200&nbsp;&nbsp;&nbsp;&nbsp;effective for the 200&nbsp;&nbsp;&nbsp;&nbsp;-200&nbsp;&nbsp;&nbsp;&nbsp;Performance Period. </FONT></P>

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<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
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<TD WIDTH="45%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2><B>THE HOME DEPOT,&nbsp;INC.</B></FONT></TD>
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<TD WIDTH="45%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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By:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="45%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
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<TD WIDTH="45%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="45%"><HR NOSHADE><FONT SIZE=2> Chairman, President&nbsp;&amp; CEO</FONT></TD>
</TR>
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<P><FONT SIZE=2>WHEN
AWARD IS MADE TO CEO: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned, Chair of the Leadership Development and Compensation Committee of the Board of Directors of The Home Depot,&nbsp;Inc., has executed this Award at the direction of the
independent members of the Board of Directors on&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 200&nbsp;&nbsp;&nbsp;&nbsp;effective for the 200&nbsp;&nbsp;&nbsp;&nbsp;-200&nbsp;&nbsp;&nbsp;&nbsp;Performance Period.
</FONT></P>

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<TH WIDTH="45%" ALIGN="CENTER"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="5%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="45%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
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<TR VALIGN="TOP">
<TD WIDTH="45%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2><B>LEADERSHIP DEVELOPMENT AND<BR>
COMPENSATION COMMITTEE OF THE<BR>
BOARD OF DIRECTORS OF THE HOME<BR>
DEPOT DEPOT,&nbsp;INC.</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="45%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="45%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="45%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="45%"><HR NOSHADE><FONT SIZE=2> Committee Chair</FONT></TD>
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<HR NOSHADE>
<P style='page-break-before:always'></p>
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<BR>
<P><br><A NAME="04ATA1664_5">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<UL>
<FONT SIZE=2><A HREF="#toc_km1664_1">Exhibit 10.4</A></FONT><BR>
</UL>
<FONT SIZE=2><A HREF="#toc_km1664_2">LONG-TERM INCENTIVE PROGRAM PERFORMANCE UNIT AWARD (200 -200 Performance Period)</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_km1664_3">W I T N E S S E T H</A></FONT><BR>
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