SYSTEMAX INC.

2005 Employee Stock Purchase Plan

| | 1. | Purpose.The purpose of the Systemax Inc. 2005 Employee Stock Purchase
               Plan (the Plan) is to provide eligible employees of Systemax Inc.
               (the Company) or a Designated Subsidiary (as defined in Section 11)
               with opportunities to purchase shares of the Companys common stock, par
               value $0.01 per share (the Common Stock). Two million (2,000,000)
               shares of Common Stock in the aggregate have been approved and reserved for this
               purpose. The Plan is intended to constitute an employee stock purchase
               plan within the meaning of Section 423(b) of the Internal Revenue Code of
               1986, as amended (the Code), and shall be interpreted in accordance
               with that intent.
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| | 2. | Administration.The Plan will be administered by the person or persons
               (the Administrator) appointed by the Companys Board of
               Directors (the Board) for such purpose. The Administrator has the
               authority to make rules and regulations for the administration of the Plan, in
               its sole discretion, and its interpretations and decisions with regard thereto
               shall be final and conclusive. If no person is appointed as the Administrator,
               then the Compensation Committee of the Board (or, as determined by the
               Compensation Committee, a subcommittee thereof) shall be the Administrator of
               the Plan. No member of the Board or individual exercising administrative
               authority with respect to the Plan shall be liable for any action or
               determination made in good faith with respect to the Plan or any option granted
               hereunder.
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| | 3. | Offerings.The Company will make one or more offerings to Eligible
               Employees (as defined below) to purchase Common Stock under the Plan
               (Offerings). Unless otherwise determined by the Administrator, the
               initial Offering will begin on the Effective Date and will end on the following
               September 30 (the Initial Offering). Thereafter, unless otherwise
               determined by the Administrator, an Offering will begin on the first business
               day occurring on or after the first day of each calendar quarter (October 1,
               January 1, April 1, July 1) and will end on the last business day occurring on
               or before the end of each calendar quarter (December 31, March 31, June 30,
               September 30, respectively). The Administrator may, in its discretion, designate
               a different period for any Offering, provided that no Offering shall exceed 12
               months in duration or overlap any other Offering.
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| | 4. | Eligibility.Each individual classified as an employee (within the
               meaning of Section 3401(c) of the Code and the regulations thereunder) by the
               Company or a Designated Subsidiary on the Companys or the Designated
               Subsidiarys payroll records during the relevant participation period (each
               an Eligible Employee) is eligible to participate in any one or more
               of the Offerings under the Plan, provided that as of the first day of the
               applicable Offering (the Offering Date) he or she has been an
               employee for at least one (1) year and is customarily employed by the Company or
               a Designated Subsidiary for more than twenty (20) hours a week .
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| | 5. | Participation.
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(a)
          Any Eligible Employee may elect to become a Participant by submitting an
          enrollment form to the designated representative of the Companys human
          resources department at least one (1) week before the applicable Offering Date
          (or such other deadline as shall be established by the Administrator for the
          Offering). The form will (i) state a whole percentage at a minimum of one
          percent (1%) and a maximum of ten percent (10%) to be deducted from his
          Compensation (as defined in Section 11) per pay period, (ii) authorize the
          purchase of Common Stock for him in each Offering in accordance with the terms
          of the Plan and (iii) specify the exact name or names in which shares of Common
          Stock purchased for him are to be issued pursuant to Section 10. The Company
          will maintain book accounts showing the amount of payroll deductions made by
          each Participant for each Offering. No interest will accrue or be paid on
          payroll deductions. All payroll deductions received or held by the Company under
          the Plan may be used by the Company for any corporate purpose and the Company
          shall not be obligated to segregate such payroll deductions. An employee who
          does not enroll in accordance with these procedures will be deemed to have
          waived his right to participate.

(b)
          Except as provided elsewhere in the Plan, a Participants election to
          participate in the Plan and payroll deduction election shall continue in effect
          until the Participant withdraws from the Plan or terminates employment.

(c)
          All Participants shall have the same rights and privileges under the Plan,
          except for differences that may be mandated by local law and that are consistent
          with Code Section 423(b)(5).

(d)
          In accordance with Section 423(b)(8) of the Code, the Administrator may reduce a
          Participants payroll deductions, but not below zero percent (0%), at any
          time during an Offering.

6.
          Deduction Changes.Except as may be determined by the Administrator in
          advance of an Offering, a Participant may not increase or decrease his payroll
          deduction during any Offering, but may increase or decrease his payroll
          deduction with respect to the next Offering (subject to the limitations of
          Section 5) by filing a new enrollment form at least one (1) week before the next
          Offering Date (or by such other deadline as shall be established by the
          Administrator for the Offering). The Administrator may, in advance of any
          Offering, establish rules permitting an employee to increase, decrease or
          terminate his payroll deduction during an Offering.

7. Withdrawal.A Participant may withdraw from participation in the Plan by
          delivering a written notice of withdrawal to the designated representative of
          the Companys human resources department. The Participants withdrawal
          will be effective as of the next business day. Following a Participants
          withdrawal, the Company will promptly refund to him his entire account balance
          under the Plan (after payment for any Common Stock purchased before the
          effective date of withdrawal). Partial withdrawals are not permitted. The
          employee may not begin participation again during the remainder of the Offering,
          but may enroll in a subsequent Offering in accordance with Section 5.

8. Grant of Options.On each Offering Date, the Company will grant to each
          Participant an option (Option) to purchase on the last day of such
          Offering (the Exercise Date), at the Option Price hereinafter
          provided for, (a) a number of shares of Common Stock determined by dividing such
          employees accumulated payroll deductions on such Exercise Date by the
          Applicable Percentage (as defined in Section 11) of the lesser of the Fair
          Market Value of the Common Stock on the Grant Date or the Exercise Date;
          provided, however, that the Administrator may determine in advance of an
          Offering to use solely the Grant Date or the Exercise Date for such
          determination, or (b) such other lesser maximum number of shares as shall have
          been established by the Administrator in advance of the Offering; provided,
          however, that such Option shall be subject to the limitations set forth
          below. Each employees Option shall be exercisable only to the extent of
          such employees accumulated payroll deductions on the Exercise Date. The
          purchase price for each share purchased under each Option (the Option
          Price) will be the Applicable Percentage of the lesser of the Fair Market
          Value of the Common Stock on the Grant Date or the Exercise Date.

Notwithstanding
the foregoing, no employee may be granted an Option hereunder if such employee,
immediately after the Option was granted, would be treated as owning stock possessing five
percent (5%) or more of the total combined voting power or value of all classes of stock
of the Company or any Parent or Subsidiary (as defined in Section 11). For purposes of the
preceding sentence, the attribution rules of Section 424(d) of the Code shall apply to
determining the stock ownership of an employee, and all stock which the employee has a
contractual right to purchase shall be treated as stock owned by the employee. In
addition, no employee may be granted an Option which permits his rights to purchase stock
under the Plan, and any other employee stock purchase plan of the Company and its Parents
and Subsidiaries, to accrue at a rate which exceeds $25,000 of the fair market value of
such stock (determined on the option grant date or dates) for each calendar year in which
the Option is outstanding at any time. The purpose of the limitation in the preceding
sentence is to comply with Section 423(b)(8) of the Code and shall be applied by taking
Options into account in the order in which they were granted. The Administrator also has
the right to impose an overall limit on the number of shares issued in any offering
period.

9. Exercise of Option and Purchase of Shares.Each employee who continues to
          be a Participant in the Plan on the Exercise Date shall be deemed to have
          exercised his Option on such date and shall acquire from the Company such number
          of whole shares of Common Stock reserved for the purpose of the Plan as his
          accumulated payroll deductions on such date will purchase at the Option Price,
          subject to any other limitations contained in the Plan. Any amount remaining in
          a Participants account at the end of an Offering solely by reason of the
          inability to purchase a fractional share will be carried forward to the next
          Offering; any other balance remaining in a Participants account at the end
          of an Offering will be refunded to the employee promptly.

10. Issuance of Certificates; Transfer of Shares.Certificates representing
          shares of Common Stock purchased under the Plan may be issued only in the name
          of the employee, in the name of the employee and another person of legal age as
          joint tenants with rights of survivorship, or in the name of a broker authorized
          by the employee to be his, or their, nominee for such purpose. No Participant
          (or joint tenant or nominee) may sell, pledge or otherwise transfer the shares
          of Common Stock acquired by the Participant under the Plan until the expiration
          of the applicable Holding Period, except as permitted under Offering terms or
          rules adopted by the Administrator or for transfers to the estate or
          beneficiaries of deceased Participants (in which case such transferees shall be
          bound by this restriction). Certificates representing shares of Common Stock
          purchased under the Plan shall bear appropriate legends and be subject to
          appropriate stop transfer orders to reflect this restriction. Shares purchased
          under the Plan are non-forfeitable.

11. Definitions.

(a)
          The term Applicable Percentage means 95% (or such other percentage,
          not below 85%, as may be determined by the Administrator in advance of an
          Offering).

(b)
          The term Compensation means the amount of base pay prior to salary
          reduction pursuant to Sections 125, 132(f) or 401(k) of the Code, but excluding
          overtime, commissions, incentive or bonus awards, allowances and reimbursements
          for expenses such as relocation allowances or travel expenses, income or gains
          on the exercise of Company stock options, and similar items.

(c)
          The term Designated Subsidiary means any present or future
          Subsidiary (as defined below) that has been designated by the Board to
          participate in the Plan. The Board may so designate any Subsidiary, or revoke
          any such designation, at any time and from time to time, either before or after
          the Plan is approved by stockholders.

(d)
          The term Effective Date means January 1, 2006.

(e)
          The term Fair Market Value of the Common Stock on any given date
          means the fair market value of the Common Stock determined in good faith by the
          Administrator; provided, however, that if the Common Stock is traded on a
          national securities exchange or other primary trading market, the Fair Market
          Value of the Common Stock will equal the closing sales price as reported on the
          principal exchange or market for the Common Stock on such date. If there is no
          trading on such date, the determination shall be made by reference to the last
          date preceding such date for which there was trading.

(f)
          The term Holding Period means one year, or such other period of time
          as may be established by the Administrator, following the Exercise Date during
          which the Common Stock acquired pursuant to the Plan may not be sold, pledged or
          otherwise transferred by the Participant. The Holding Period may be changed by
          the Administrator with respect to any Offering and may apply to all or a
          designated portion of the shares of Common Stock purchased by each Participant
          in the Offering, subject to Section 5.

(g)
          The term Parent means a parent corporation with respect
          to the Company, as defined in Section 424(e) of the Code.

(h)
          The term Participant means an Eligible Employee who has complied
          with the provisions of Section 5.

(i)
          The term Subsidiary means a subsidiary corporation with
          respect to the Company, as defined in Section 424(f) of the Code.

12. Rights on Termination of Employment.If a Participants employment
          terminates for any reason before the Exercise Date for any Offering, no payroll
          deduction will be taken from any pay due and owing to the employee and the
          balance in his account will be paid to him or, in the case of his death, to his
          designated beneficiary as if he had withdrawn from the Plan under Section 7. An
          employee will be deemed to have terminated employment, for this purpose, if the
          corporation that employs him, having been a Designated Subsidiary, ceases to be
          a Designated Subsidiary or ceases to be a Subsidiary, or if the employee is
          transferred to any corporation other than the Company or a Designated
          Subsidiary. An employee will not be deemed to have terminated employment, for
          this purpose, if the employee is on an approved leave of absence for military
          service or sickness, or for any other purpose approved by the Company, if the
          employees right to reemployment is guaranteed either by a statute or by
          contract (including under the policy pursuant to which the leave of absence was
          granted) or if the Administrator otherwise provides in writing.

13. Special Rules.Notwithstanding anything herein to the contrary, the
          Board or the Administrator may in its discretion amend or vary the terms of the
          Plan, establish one or more sub-plans or adopt special rules applicable to the
          employees of a particular Designated Subsidiary, whenever the Board or
          Administrator determines that such rules are necessary or appropriate for the
          implementation of the Plan in a jurisdiction where such Designated Subsidiary
          has employees provided that such rules are consistent with the requirements of
          Section 423(b) of the Code. Such special rules may include (by way of example,
          but not by way of limitation) the establishment of a method for employees of a
          given Designated Subsidiary to fund the purchase of shares other than by payroll
          deduction, if the payroll deduction method is prohibited by local law or is
          otherwise impracticable. Any special rules established pursuant to this Section
          13 shall, to the extent possible, result in the employees subject to such rules
          having substantially the same rights as other Participants in the Plan.

14. Optionees Not Stockholders.Neither the granting of an Option to an
          employee nor the deductions from his pay shall constitute such employee a holder
          of the shares of Common Stock covered by an Option under the Plan until such
          shares have been purchased by and issued to him.

15. Rights Not Transferable.Rights under the Plan are not transferable by a
          participating employee other than by will or the laws of descent and
          distribution, and are exercisable during the employees lifetime only by
          the employee.

16. Application of Funds.All funds received or held by the Company under
          the Plan may be combined with other corporate funds and may be used for any
          corporate purpose.

17. Adjustment in Case of Changes Affecting Common Stock.In the event of a
          subdivision of outstanding shares of Common Stock, or the payment of a dividend
          in Common Stock, the number of shares approved for the Plan, and the share
          limitation set forth in Section 8, shall be increased proportionately, and such
          other adjustment shall be made as may be deemed equitable by the Administrator.
          In the event of any other change affecting the Common Stock, such adjustment
          shall be made as may be deemed equitable by the Administrator to give proper
          effect to such event.

18. Amendment of the Plan.The Board may at any time, and from time to time,
          amend the Plan in any respect, except that without the approval, within 12
          months of such Board action, by the stockholders, no amendment shall be made
          increasing the number of shares approved for the Plan or making any other change
          that would require stockholder approval in order for the Plan, as amended, to
          qualify as an employee stock purchase plan under Section 423(b) of
          the Code.

19. Insufficient Shares.If the total number of shares of Common Stock that
          would otherwise be purchased on any Exercise Date plus the number of shares
          purchased under previous Offerings under the Plan exceeds the maximum number of
          shares issuable under the Plan, the shares then available shall be apportioned
          among Participants in proportion to the amount of payroll deductions accumulated
          on behalf of each Participant that would otherwise be used to purchase Common
          Stock on such Exercise Date.

20. Termination of the Plan. The Plan may be terminated at any time by the
          Board. Upon termination of the Plan, all amounts in the accounts of Participants
          shall be promptly refunded.

21. Governmental Regulations; Applicable Law.The Companys obligation
          to sell and deliver Common Stock under the Plan is subject to obtaining all
          governmental approvals required in connection with the authorization, issuance,
          or sale of such stock. The Plan shall be governed by Delaware law except to the
          extent that such law is preempted by federal law.

22. Issuance of Shares.Shares may be issued upon exercise of an Option from
          authorized but unissued Common Stock, from shares held in the treasury of the
          Company, or from any other proper source.

23. Tax Withholding.Participation in the Plan is subject to any minimum
          required tax withholding on income of the Participant in connection with the
          Plan. Each employee agrees, by entering the Plan, that the Company and its
          Subsidiaries shall have the right to deduct any such taxes from any payment of
          any kind otherwise due to the employee, including shares issuable under the
          Plan.

24. Notification Upon Sale of Shares.Each employee agrees, by entering the
          Plan, to give the Company prompt notice of any disposition of shares purchased
          under the Plan where such disposition occurs within two years after the date of
          grant of the Option or one year after the Exercise Date pursuant to which such
          shares were purchased.

25. Conditions Upon Issuance of Shares. Shares shall not be issued with
          respect to an option unless the exercise of such option and the issuance and
          delivery of such shares shall comply with all applicable provisions of law,
          whether domestic or foreign, including without limitation the Securities Act of
          1933, as amended, the Securities Exchange Act of 1934 as amended, the rules and
          regulations of the Securities and Exchange Commission and the requirements of
          any stock exchange or automated quotation system upon which the shares of stock
          may then be listed or quoted, and shall be further subject to the approval of
          counsel for the Company with respect to such compliance. As a condition to the
          exercise of an option, the Company may require the person exercising such option
          to represent and warrant at the time of any such exercise that the shares are
          being purchased for investment and without any present intention to sell or
          distribute such shares if, in the opinion of counsel for the Company, such a
          representation is required by any of the applicable provisions of law.

26. Effective Date and Approval of Shareholders.The terms of the Plan were
          adopted by the Board of Directors on March 30, 2005 and shall take effect on the
          Effective Date, subject to approval, in accordance with applicable state law, by
          the holders of a majority of the votes cast at a meeting of stockholders at
          which a quorum is present.

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