{"id":40300,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/promissory-note-the-home-depot-inc-and-robert-l-nardelli.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"promissory-note-the-home-depot-inc-and-robert-l-nardelli","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/promissory-note-the-home-depot-inc-and-robert-l-nardelli.html","title":{"rendered":"Promissory Note &#8211; The Home Depot Inc. and Robert L. Nardelli"},"content":{"rendered":"<pre>                                 PROMISSORY NOTE\n\n$10,000,000.00                                                  December 4, 2000\n\n         FOR VALUE RECEIVED, Robert L. Nardelli (the \"Borrower\"), promises to\npay to The Home Depot, Inc., a Delaware corporation (\"Lender\"), or its assignee,\nthe principal sum of Ten Million Dollars ($10,000,000.00) with interest from the\ndate hereof at a rate of five and eight tenths percent (5.8%) per annum,\ncompounded annually, on the unpaid balance of such principal sum. Such principal\nand interest shall be due and payable and\/or forgiven (as the case may be) in\naccordance with Sections 4.2.4 and 7.2.9 of that certain Employment Agreement\neffective as of December 4, 2000, by and between the Borrower and the Lender\n(the \"Employment Agreement\").\n\n         If the Borrower's employment with the Company is terminated prior to\npayment in full of this Note, this Note shall be immediately due and payable\nand\/or forgiven (as the case may be) in accordance with Sections 4.2.4 and 7.2.9\nof the Employment Agreement.\n\n         All payments by the Borrower under this Note shall be in immediately\navailable funds. This Note may be prepaid in whole or in part at any time or\nfrom time to time. Any such prepayment shall be without premium or penalty.\n\n         If any amount due under this Note becomes due and payable on a\nSaturday, Sunday, or public or other banking holiday under the laws of the State\nof Georgia, the due date thereof shall be extended to the next succeeding\nbusiness day.\n\n         Upon the failure to pay principal under this Note when due, which shall\nremain unremedied for twenty days following the date when principal was due\nhereunder; then, the Lender may declare, by written notice of default given to\nthe Borrower, the entire principal amount of this Note to be due and payable,\nwhereupon the entire principal amount of this Note outstanding shall become due\nand payable.\n\n         No delay or failure by the Lender in the exercise of any right or\nremedy shall constitute a waiver thereof, and no single or partial exercise by\nthe Lender of any right or remedy shall preclude other or future exercise\nthereof or the exercise of any other right or remedy.\n\n         None of the terms or provisions of this Note may be excluded, modified\nor amended except by a written instrument duly executed on behalf of the holder\nexpressly referring to this Note and setting forth the provision so excluded,\nmodified, or amended.\n\n         As used herein, the Borrower includes the successors, assigns and\ndistributees of the undersigned.\n\n         As used herein, the Lender includes the successors, assigns and\ndistributees of the Lender, as well as a holder in due course of this Note.\n\n         THIS NOTE SHALL BE GOVERNED BY, CONSTRUED AND INTERPRETED IN ACCORDANCE\nWITH THE LAWS OF THE STATE OF GEORGIA (WITHOUT REGARD TO CONFLICT OF LAWS\nPRINCIPLES).\n\n                                                     \/s\/ Robert L. Nardelli   \n                                                     -------------------------\n                                                     Robert L. Nardelli\n\n\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7786],"corporate_contracts_industries":[9493],"corporate_contracts_types":[9539,9544],"class_list":["post-40300","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-home-depot-inc","corporate_contracts_industries-retail__building","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/40300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=40300"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40300"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40300"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}