MANAGEMENT CONTINUITY AGREEMENT FOR EXECUTIVE OFFICERSManagement Continuity Agreement • June 4th, 2004 • Lowes Companies Inc • Retail-lumber & other building materials dealers • North Carolina
AGREEMENT by and between Lowe's Companies, Inc., a North Carolina corporation (the "Company") and _____________________ ("Executive"), dated as of the ______ day of ____________, 2004. The Board of Directors of the Company (the "Board"), has determined that it is in the best interests of the Company and its stockholders to assure that the Company will have the continued dedication of Executive, notwithstanding the possibility, threat or occurrence of a Change in Control (as defined below) of the Company. The Board believes it is imperative to diminish the inevitable distraction of Executive by virtue of the personal uncertainties and risks created by a pending or threatened Change in Control and to encourage Executive's full attention and dedication to the Company currently and in the event of any threatened or pending Change in Control, and to provide Executive with compensation and benefits arrangements upon a Change in Control which ensure that the compensation and benefits exp
