Document:

<PAGE>
                                                                    Exhibit 4.01

            This Note is a Global Security within the meaning of the Indenture
hereinafter referred to and is registered in the name of the Depository named
below or a nominee of the Depository. This Note is not exchangeable for Notes
registered in the name of a Person other than the Depository or its nominee
except in the limited circumstances described herein and in the Indenture, and
no transfer of this Note (other than a transfer of this Note as a whole by the
Depository to a nominee of the Depository or by a nominee of the Depository to
the Depository or another nominee of the Depository) may be registered except in
the limited circumstances described herein.

            Unless this certificate is presented by an authorized representative
of The Depository Trust Company, a New York corporation (the "Depository"), to
the Company or its agent for registration of transfer, exchange, or payment, and
any certificate issued is registered in the name of Cede & Co. or in such other
name as is requested by an authorized representative of the Depository (and any
payment is made to Cede & Co. or to such other entity as is requested by an
authorized representative of the Depository), ANY TRANSFER, PLEDGE, OR OTHER USE
HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the
registered owner hereof, Cede & Co., has an interest herein.

                                 CITIGROUP INC.
                     FLOATING RATE NOTES DUE MARCH 16, 2012
REGISTERED                                                            REGISTERED

                                                              CUSIP: 172967 CV 1
                                                              ISIN: US172967CV17
                                                          Common Code: 021516902

No. R-                                                               $

            CITIGROUP INC., a Delaware corporation (the "Company", which term
includes any successor Person under the Indenture), for value received, hereby
promises to pay to Cede & Co., or registered assigns, the principal sum of
$___________ on March 16, 2012 and to pay interest thereon from and including
March 16, 2005 or from the most recent Interest Payment Date to which interest
has been paid or duly provided for, quarterly, on March 16, June 16, September
16 and December 16 of each year, commencing June 16, 2005, at the rate per annum
for each Interest Period of three-month LIBOR, determined as provided herein,
plus 0.125% until the principal hereof is paid or made available for payment.
The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date will, as provided in the Indenture, be paid to the Person
in whose name this Note is registered at the close of business on the Record
Date for such interest, which shall be the Business Day immediately preceding
such Interest Payment Date.

<PAGE>

            Any such interest not so punctually paid or duly provided for will
forthwith cease to be payable to the holder on such Record Date and may either
be paid to the Person in whose name this Note is registered at the close of
business on a subsequent Record Date, such subsequent Record Date to be not less
than five days prior to the date of payment of such defaulted interest, notice
whereof shall be given to holders of Notes of this series not less than 15 days
prior to such subsequent Record Date, or be paid at any time in any other lawful
manner not inconsistent with the requirements of any securities exchange on
which the Notes of this series may be listed, and upon such notice as may be
required by such exchange, all as more fully provided in the Indenture.

            Interest hereon will be calculated on the basis of the actual number
of days elapsed in an Interest Period and a 360-day year. Dollar amounts
resulting from such calculation will be rounded to the nearest cent, with
one-half cent being rounded upward. An "Interest Period" shall be the period
from and including an Interest Payment Date (or from March 16, 2005 in the case
of the first Interest Payment Date) to and including the day immediately
preceding the next Interest Payment Date.

            If an Interest Payment Date falls on a day that is not a Business
Day, such Interest Payment Date will be the next succeeding Business Day. If the
Maturity of the Notes falls on a day that is not a Business Day, the payment due
on Maturity will be postponed to the next succeeding Business Day, and no
further interest will accrue in respect of such postponement. If a date for
payment of interest or principal on the Notes falls on a day that is not a
business day in the place of payment, such payment will be made on the next
succeeding business day in such place of payment as if made on the date the
payment was due. No interest will accrue on any amounts payable for the period
from and after the due date for payment of such principal or interest.

            For these purposes, "Business Day" means any day which is a day on
which commercial banks settle payments and are open for general business in The
City of New York.

            Payment of the principal of and interest on this Note will be made
at the office or agency of the Trustee maintained for that purpose in The City
of New York.

            Reference is hereby made to the further provisions of this Note set
forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.

            Unless the certificate of authentication hereon has been executed by
the Trustee or by an authenticating agent on behalf of the Trustee by manual
signature, this Note shall not be entitled to any benefit under the Indenture or
be valid or obligatory for any purpose.

                                       2
<PAGE>

            IN WITNESS WHEREOF, the Company has caused this instrument to be
duly executed under its corporate seal.

Dated: March 16, 2005

                                    CITIGROUP INC.

                                    By:_________________________________
                                    Title:  Chief Financial Officer

ATTEST:

By:___________________________
Title:  Assistant Secretary

                                       3
<PAGE>

            This is one of the Notes of the series issued under the
within-mentioned Indenture.

Dated: March 16, 2005

                                    THE BANK OF NEW YORK,
                                    as Trustee

                                    By:_________________________________
                                       Name:
                                       Title:

                                    -or-

                                    CITIBANK, N.A.,
                                    as Authenticating Agent

                                    By:_________________________________
                                       Name:
                                       Title:

                                       4
<PAGE>

      This Note is one of a duly authorized issue of Securities of the Company
(the "Notes"), issued and to be issued in one or more series under the
Indenture, dated as of March 15, 1987 (as amended and supplemented to date, the
"Indenture"), between the Company and The Bank of New York, as Trustee (the
"Trustee", which term includes any successor trustee under the Indenture), to
which Indenture and all indentures supplemental thereto reference is hereby made
for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the holders of the Notes
and of the terms upon which the Notes are, and are to be, authenticated and
delivered. This Note is one of the series designated on the face hereof,
initially limited in aggregate principal to $750,000,000.

      This Note will bear interest for each Interest Period at a rate determined
by Citibank, N.A., acting as Calculation Agent. The interest rate on this Note
for a particular Interest Period will be a per annum rate equal to LIBOR as
determined on the related Interest Determination Date, plus 0.125%. The Interest
Determination Date for an Interest Period will be the second London business day
preceding such Interest Period. The Interest Determination Date for the first
Interest Period was March 14, 2005. Promptly upon determination, the Calculation
Agent will inform the Trustee and the Company of the interest rate for the next
Interest Period. Absent manifest error, the determination of the interest rate
by the Calculation Agent shall be binding and conclusive on the holders of
Notes, the Trustee and the Company.

      A London business day is a day on which dealings in deposits in U.S.
dollars are transacted in the London interbank market.

      On any Interest Determination Date, LIBOR will be equal to the offered
rate for deposits in U.S. dollars having an index maturity of three months for
the next Interest Period, in amounts of at least $1,000,000, as such rate
appears on Telerate Page 3750 at approximately 11:00 a.m., London time, on such
Interest Determination Date. If the Telerate Page 3750 is replaced by another
service or ceases to exist, the Calculation Agent will use the replacing service
or such other service that may be nominated by the British Bankers' Association
for the purpose of displaying London interbank offered rates for U.S. dollar
deposits.

      If no offered rate appears on Telerate Page 3750 on an Interest
Determination Date at approximately 11:00 a.m., London time, then the
Calculation Agent (after consultation with the Company) will select four major
banks in the London interbank market and shall request each of their principal
London offices to provide a quotation of the rate at which three-month deposits
in U.S. dollars in amounts of at least $1,000,000 are offered by it to prime
banks in the London interbank market, on that date and at that time, that is
representative of single transactions at that time. If at least two quotations
are provided, LIBOR will be the arithmetic average of the quotations provided.
Otherwise, the Calculation Agent will select three major banks in New York City
and shall request each of them to provide a quotation of the rate offered by
them at approximately 11:00 a.m., New York City time, on the Interest
Determination Date for loans in U.S. dollars to leading European banks having an
index maturity of three months for the applicable Interest Period in an amount
of at least $1,000,000 that is representative of single transactions at that
time. If three quotations are provided, LIBOR will be the arithmetic average

                                       5
<PAGE>

of the quotations provided. Otherwise, the rate of LIBOR for the next Interest
Period will be set equal to the rate of LIBOR for the current Interest Period.

      The Luxembourg Stock Exchange shall be notified of the interest rate, the
amount of the interest payment and the Interest Payment Date for a particular
Interest Period not later than the first day of such Interest Period. Upon
request from any Noteholder, the Calculation Agent will provide the interest
rate in effect on this Note for the current Interest Period and, if it has been
determined, the interest rate to be in effect for the next Interest Period.

      If an event of default (as defined in the Indenture) with respect to Notes
of this series shall occur and be continuing, the principal of the Notes of this
series may be declared due and payable in the manner and with the effect
provided in the Indenture.

      The Indenture contains provisions for defeasance at any time of the entire
indebtedness of this Note upon compliance by the Company with certain conditions
set forth in Sections 11.03 and 11.04 thereof, which provisions apply to this
Note.

      The Indenture contains provisions permitting the Company and the Trustee,
without the consent of the holders of the Securities, to establish, among other
things, the form and terms of any series of Securities issuable thereunder by
one or more supplemental indentures, and, with the consent of the holders of not
less than 66 2/3% in aggregate principal amount of Securities at the time
outstanding which are affected thereby, to modify the Indenture or any
supplemental indenture or the rights of the holders of Securities of such series
to be affected, provided that no such modification will (i) extend the fixed
maturity of any Securities, reduce the rate or extend the time of payment of
interest thereon, reduce the principal amount thereof or the premium, if any,
thereon, reduce the amount of the principal of Original Issue Discount
Securities payable on any date, change the currency in which Securities are
payable, or impair the right to institute suit for the enforcement of any such
payment on or after the maturity thereof, without the consent of the holder of
each Security so affected, or (ii) reduce the aforesaid percentage of Securities
of any series the consent of the holders of which is required for any such
modification without the consent of the holders of all Securities of such series
then outstanding, or (iii) modify, without the written consent of the Trustee,
the rights, duties or immunities of the Trustee.

      No reference herein to the Indenture and no provision of this Note or of
the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of and interest on this Note at
the times, place and rate, and in the coin or currency, herein prescribed.

      This Note is a Global Security registered in the name of a nominee of the
Depository. This Note is exchangeable for Notes registered in the name of a
person other than the Depository or its nominee only in the limited
circumstances hereinafter described. Unless and until it is exchanged in whole
or in part for definitive Notes in certificated form, this Note may not be
transferred except as a whole by the Depository to a nominee of the Depository
or by a nominee of the Depository to the Depository or another nominee of the
Depository.

                                       6
<PAGE>

      The Notes represented by this Global Security are exchangeable for
definitive Notes in certificated form of like tenor as such Notes in
denominations of $1,000 and integral multiples thereof only if (i) the
Depository notifies the Company that it is unwilling or unable to continue as
Depository for the Notes or (ii) the Depository ceases to be a clearing agency
registered under the Securities Exchange Act of 1934, as amended, or (iii) the
Company in its sole discretion decides to allow the Notes to be exchanged for
definitive Notes in registered form. Any Notes that are exchangeable pursuant to
the preceding sentence are exchangeable for certificated Notes issuable in
authorized denominations and registered in such names as the Depository shall
direct. As provided in the Indenture and subject to certain limitations therein
set forth, the transfer of definitive Notes in certificated form is registrable
in the register maintained by the Company in The City of New York for such
purpose, upon surrender of the definitive Note for registration of transfer at
the office or agency of the registrar, duly endorsed by, or accompanied by a
written instrument of transfer in form satisfactory to the Company and the
registrar duly executed by, the holder thereof or his attorney duly authorized
in writing, and thereupon one or more new Notes of this series and of like
tenor, of authorized denominations and for the same aggregate principal amount,
will be issued to the designated transferee or transferees. Subject to the
foregoing, this Note is not exchangeable, except for a Global Security or Global
Securities of this issue of the same principal amount to be registered in the
name of the Depository or its nominee.

      No service charge shall be made for any such registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.

      Prior to due presentment of this Note for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Note is registered as the owner hereof for all
purposes, whether or not this Note be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

      The Company will pay additional amounts ("Additional Amounts") to the
beneficial owner of any Note that is a non-United States person in order to
ensure that every net payment on such Note will not be less, due to payment of
U.S. withholding tax, than the amount then due and payable. For this purpose, a
"net payment" on a Note means a payment by the Company or a paying agent,
including payment of principal and interest, after deduction for any present or
future tax, assessment or other governmental charge of the United States. These
Additional Amounts will constitute additional interest on the Note.

      The Company will not be required to pay Additional Amounts, however, in
any of the circumstances described in items (1) through (13) below.

      (1)   Additional Amounts will not be payable if a payment on a Note is
            reduced as a result of any tax, assessment or other governmental
            charge that is imposed or withheld solely by reason of the
            beneficial owner:

            (a)   having a relationship with the United States as a citizen,
                  resident or otherwise;

                                       7
<PAGE>

            (b)   having had such a relationship in the past or

            (c)   being considered as having had such a relationship.

      (2)   Additional Amounts will not be payable if a payment on a Note is
            reduced as a result of any tax, assessment or other governmental
            charge that is imposed or withheld solely by reason of the
            beneficial owner:

            (a)   being treated as present in or engaged in a trade or business
                  in the United States;

            (b)   being treated as having been present in or engaged in a trade
                  or business in the United States in the past or

            (c)   having or having had a permanent establishment in the United
                  States.

      (3)   Additional Amounts will not be payable if a payment on a Note is
            reduced as a result of any tax, assessment or other governmental
            charge that is imposed or withheld solely by reason of the
            beneficial owner being or having been any of the following (as such
            terms are defined in the Internal Revenue Code of 1986, as amended):

            (a)   personal holding company;

            (b)   foreign personal holding company;

            (c)   foreign private foundation or other foreign tax-exempt
                  organization;

            (d)   passive foreign investment company;

            (e)   controlled foreign corporation or

            (f)   corporation which has accumulated earnings to avoid United
                  States federal income tax.

      (4)   Additional Amounts will not be payable if a payment on a Note is
            reduced as a result of any tax, assessment or other governmental
            charge that is imposed or withheld solely by reason of the
            beneficial owner owning or having owned, actually or constructively,
            10 percent or more of the total combined voting power of all classes
            of stock of the Company entitled to vote or by reason of the
            beneficial owner being a bank that has invested in a Note as an
            extension of credit in the ordinary course of its trade or business.

For purposes of items (1) through (4) above, "beneficial owner" means a
fiduciary, settlor, beneficiary, member or shareholder of the holder if the
holder is an estate, trust, partnership, limited liability company, corporation
or other entity, or a person holding a power over an estate or trust
administered by a fiduciary holder.

      (5)   Additional Amounts will not be payable to any beneficial owner of a
            Note that is a:

            (a)   fiduciary;

            (b)   partnership;

            (c)   limited liability company or

                                       8
<PAGE>

            (d)   other fiscally transparent entity

            or that is not the sole beneficial owner of the Note, or any portion
            of the Note. However, this exception to the obligation to pay
            Additional Amounts will only apply to the extent that a beneficiary
            or settlor in relation to the fiduciary, or a beneficial owner or
            member of the partnership, limited liability company or other
            fiscally transparent entity, would not have been entitled to the
            payment of an Additional Amount had the beneficiary, settlor,
            beneficial owner or member received directly its beneficial or
            distributive share of the payment.

      (6)   Additional Amounts will not be payable if a payment on a Note is
            reduced as a result of any tax, assessment or other governmental
            charge that is imposed or withheld solely by reason of the failure
            of the beneficial owner or any other person to comply with
            applicable certification, identification, documentation or other
            information reporting requirements. This exception to the obligation
            to pay Additional Amounts will only apply if compliance with such
            reporting requirements is required by statute or regulation of the
            United States or by an applicable income tax treaty to which the
            United States is a party as a precondition to exemption from such
            tax, assessment or other governmental charge.

      (7)   Additional Amounts will not be payable if a payment on a Note is
            reduced as a result of any tax, assessment or other governmental
            charge that is collected or imposed by any method other than by
            withholding from a payment on a Note by the Company or a paying
            agent.

      (8)   Additional Amounts will not be payable if a payment on a Note is
            reduced as a result of any tax, assessment or other governmental
            charge that is imposed or withheld by reason of a change in law,
            regulation, or administrative or judicial interpretation that
            becomes effective more than 15 days after the payment becomes due or
            is duly provided for, whichever occurs later.

      (9)   Additional Amounts will not be payable if a payment on a Note is
            reduced as a result of any tax, assessment or other governmental
            charge that is imposed or withheld by reason of the presentation by
            the beneficial owner of a Note for payment more than 30 days after
            the date on which such payment becomes due or is duly provided for,
            whichever occurs later.

      (10)  Additional Amounts will not be payable if a payment on a Note is
            reduced as a result of any:

            (a)   estate tax;

            (b)   inheritance tax;

            (c)   gift tax;

            (d)   sales tax;

            (e)   excise tax;

                                       9
<PAGE>

            (f)   transfer tax;

            (g)   wealth tax;

            (h)   personal property tax or

            (i)   any similar tax, assessment, withholding, deduction or other
                  governmental charge.

      (11)  Additional Amounts will not be payable if a payment on a Note is
            reduced as a result of any tax, assessment, or other governmental
            charge required to be withheld by any paying agent from a payment of
            principal or interest on a Note if such payment can be made without
            such withholding by any other paying agent.

      (12)  Additional amounts will not be payable if a payment on a Note is
            reduced as a result of any tax, assessment or other governmental
            charge that is required to be made pursuant to any European Union
            directive on the taxation of savings income or any law implementing
            or complying with, or introduced to conform to, any such directive.

      (13)  Additional Amounts will not be payable if a payment on a Note is
            reduced as a result of any combination of items (1) through (12)
            above.

      Except as specifically provided herein, the Company will not be required
to make any payment of any tax, assessment or other governmental charge imposed
by any government or a political subdivision or taxing authority of such
government.

      As used in this Note, "United States person" means:

      (a)   any individual who is a citizen or resident of the United States;

      (b)   any corporation, partnership or other entity created or organized in
            or under the laws of the United States;

      (c)   any estate if the income of such estate falls within the federal
            income tax jurisdiction of the United States regardless of the
            source of such income and

      (d)   any trust if a United States court is able to exercise primary
            supervision over its administration and one or more United States
            persons have the authority to control all of the substantial
            decisions of the trust.

      Additionally, "non-United States person" means a person who is not a
United States person, and "United States" means the states of the United States
of America and the District of Columbia, but excluding its territories and its
possessions.

      Except as provided below, the Notes may not be redeemed prior to maturity.

      (1)   The Company may, at its option, redeem the Notes if:

            (a)   the Company becomes or will become obligated to pay Additional
                  Amounts as described above;

                                       10
<PAGE>

            (b)   the obligation to pay Additional Amounts arises as a result of
                  any change in the laws, regulations or rulings of the United
                  States, or an official position regarding the application or
                  interpretation of such laws, regulations or rulings, which
                  change is announced or becomes effective on or after March 9,
                  2005 and

            (c)   the Company determines, in its business judgment, that the
                  obligation to pay such Additional Amounts cannot be avoided by
                  the use of reasonable measures available to it, other than
                  substituting the obligor under the Notes or taking any action
                  that would entail a material cost to the Company.

      (2)   The Company may also redeem the Notes, at its option, if:

            (a)   any act is taken by a taxing authority of the United States on
                  or after March 9, 2005, whether or not such act is taken in
                  relation to the Company or any affiliate, that results in a
                  substantial probability that the Company will or may be
                  required to pay Additional Amounts as described above;

            (b)   the Company determines, in its business judgment, that the
                  obligation to pay such Additional Amounts cannot be avoided by
                  the use of reasonable measures available to it, other than
                  substituting the obligor under the Notes or taking any action
                  that would entail a material cost to the Company and

            (c)   the Company receives an opinion of independent counsel to the
                  effect that an act taken by a taxing authority of the United
                  States results in a substantial probability that the Company
                  will or may be required to pay the Additional Amounts
                  described above, and delivers to the Trustee a certificate,
                  signed by a duly authorized officer, stating that based on
                  such opinion the Company is entitled to redeem the Notes
                  pursuant to their terms.

Any redemption of the Notes as set forth in clauses (1) or (2) above shall be in
whole, and not in part, and will be made at a redemption price equal to 100% of
the principal amount of the Notes Outstanding plus accrued interest thereon to
the date of redemption. Holders shall be given not less than 30 days nor more
than 60 days prior notice by the Trustee of the date fixed for such redemption.

      All terms used in this Note which are defined in the Indenture shall have
the meanings assigned to them in the Indenture. The Notes are governed by the
laws of the State of New York.

                                       11EX-4.B.VII

 

	 	 	 
	ARROW ELECTRONICS, INC.

	 	FORM 10-K – EXHIBIT 4 (b) (vii) 
	 
	 	 
	

	 	EXECUTION COPY 

ARROW ELECTRONICS, INC.

and

THE BANK OF NEW YORK

(SUCCESSOR TO BANK OF MONTREAL TRUST COMPANY),

as Trustee

Supplemental Indenture

Dated as of March 11, 2005

 

 

     THIS SUPPLEMENTAL INDENTURE, dated as of March 11, 2005, between Arrow Electronics, Inc., a
corporation duly organized and existing under the laws of New York (the “Company”), and The Bank of
New York (as successor to Bank of Montreal Trust Company), a banking corporation duly organized and
existing under the laws of the State of New York (the “Trustee”),

     WHEREAS, the Company and the Trustee are parties to an Indenture dated as of January 15, 1997
(as amended and supplemented as of the date hereof, the “Indenture”) pursuant to which the Company
issued securities of various series, including its Zero Coupon Convertible Senior Debentures due
2021 (the “Debentures”) pursuant to the Supplemental Indenture, dated as of February 21, 2001
between the Company and the Trustee;

     WHEREAS, Section 9.1 of the Indenture provides, among other things, that the Company and the
Trustee, without notice to or the consent of any Holder, may amend or supplement the Indenture to
make any change that does not materially and adversely affect the rights of any Holder;

     WHEREAS, the Company desires to amend and supplement the Indenture by way of adoption of the
amendments set forth in this Supplemental Indenture; and

     WHEREAS, the Company has duly authorized the execution and delivery of this Supplemental
Indenture and all other things necessary to make the Indenture, as hereby supplemented and amended,
a valid indenture and agreement according to its terms have been done;

     NOW, THEREFORE,

     For good and valuable consideration , the receipt and sufficiency of which are hereby
acknowledged, and, in consideration of the premises and of the covenants contained in the
Indenture, the parties hereto mutually covenant and agree as follows:

ARTICLE ONE

DEFINITIONS

     Section 1.1 Use of Capitalized Terms. Except to the extent such terms are otherwise defined
in this Supplemental Indenture or the context clearly requires otherwise, capitalized terms are
used herein as defined in the Indenture.

ARTICLE TWO

AMENDMENTS TO INDENTURE

     Section 2.1. Definitions. The definitions in Section 1.1 of the Indenture for the following
terms are deleted in their entirety: “Company Notice,” “Company Notice Date,” “Market Price” and
“Sale Price.”

     Section 2.2. Redemption Provisions.

2

 

     (a) Section 3.8 of the Indenture is hereby amended to read in its entirety as follows:

     “Section 3.8 Purchase of Securities at Option of the Holder.

     (a) General. Securities shall be purchased by the Company pursuant to paragraph 4 of
the Securities as of February 21, 2006, February 21, 2011 and February 21, 2016 (each, a “Purchase
Date”), at the purchase price specified therein (each, a “Purchase Price”) at the option of the
Holder thereof, upon:

     (1) delivery to the Paying Agent by the Holder of a written notice of purchase (a “Purchase
Notice”) at any time from the opening of business on the date that is 20 Business Days prior to a
Purchase Date until the close of business on such Purchase Date, stating:

     (A) if certificated Securities have been issued, the certificate number of the Security which
the Holder will deliver to be purchased (or, if the Security is not certificated, such other
identification necessary to comply with appropriate DTC procedures);

     (B) the portion of the Principal of the Security which the Holder will deliver to be
purchased, which portion must be $1,000 in Principal or a multiple thereof; and

     (C) that such Security shall be purchased as of the Purchase Date pursuant to the terms and
conditions specified in paragraph 4 of the Securities and the provisions of this Indenture; and

     (2) delivery of such Security to the Paying Agent prior to, on or after the Purchase Date
(together with all necessary endorsements) at the offices of the Paying Agent, such delivery being
a condition to receipt by the Holder of the Purchase Price therefor; provided, however, that such
Purchase Price shall be so paid pursuant to this Section 3.8 only if the Security so delivered to
the Paying Agent shall conform in all respects to the description thereof in the related Purchase
Notice.

     The Company shall purchase from the Holder thereof, pursuant to this Section 3.8, a portion of
a Security if the Principal of such portion is $1,000 or an integral multiple of $1,000. Provisions
of this Indenture that apply to the purchase of all of a Security also apply to the purchase of
such portion of such Security.

     Any purchase by the Company contemplated pursuant to the provisions of this Section 3.8 shall
be consummated by the delivery of the Cash (as defined below) to be received by the Holder promptly
following the later of the Purchase Date and the time of delivery of the Security.

     Notwithstanding anything herein to the contrary, any Holder delivering to the Paying Agent the
Purchase Notice contemplated by this Section 3.8(a) shall have the right at any time prior to the
close of business on the Purchase Date to withdraw such Purchase Notice by delivery of a written
notice of withdrawal to the Paying Agent in accordance with Section 3.10.

     The Paying Agent shall promptly notify the Company of the receipt by it of any Purchase Notice
or written notice of withdrawal thereof.

     (b) Company’s Manner of Payment of Purchase Price. The Company shall pay the aggregate
Purchase Price in respect of the Securities in respect of which a Purchase Notice pursuant to
Section 3.8(a) has been given, in U.S. legal tender (“Cash”).

3

 

     (c) Purchase of Securities. The Purchase Price of Securities in respect of which a
Purchase Notice pursuant to Section 3.8(a) has been given shall be paid by the Company with Cash
equal to the aggregate Purchase price, or such specified percentage thereof, as the case may be, of
such Securities.

     (d) Procedure upon Purchase. On the Business Day following the Purchase Date, the
Company shall deposit with the Paying Agent Cash (in respect of a Cash purchase under Section
3.8(c) or for fractional interests, as applicable), sufficient to pay the aggregate Purchase Price
in respect of the Securities to be purchased pursuant to this Section 3.8.”

     (b) The first parenthetical in the last paragraph of Section 3.10 of the Indenture is hereby
deleted in its entirety.

     Section 2.3 The Debentures. The second sentence of paragraph 4(a) of the Zero Coupon
Convertible Senior Debentures due 2021 (the “Debentures”) is hereby deleted in its entirety and
replaced with the following:

     “Such Purchase Prices shall be paid in cash.”

     Section 2.4 Terms of the Debentures. The terms of the Debentures authorized pursuant to and
issued under the Indenture include the terms in this Supplemental Indenture and the Indenture as
amended hereby. The Debentures are subject to all such terms and the Holders are referred to the
Indenture as amended hereby for a statement of all such terms. To the extent permitted by
applicable law, in the event of any inconsistency between the terms of the Debentures and the terms
of the Indenture as amended hereby, the terms of the Indenture as amended hereby shall control.

     Section 2.5 Deletion of Cross References. All references in the Indenture and the
Debentures to the definitions of the Indenture deleted pursuant to Section 2.1 of this Supplemental
Indenture are hereby deleted.

ARTICLE THREE

MISCELLANEOUS

     Section 3.1. (a) Ratification of Indenture. As supplemented by this Supplemental Indenture,
the Indenture is in all respects ratified and confirmed and the Indenture as so supplemented by
this Supplemental Indenture shall be read, taken and construed as one and the same instrument.

     (b) Conflict with Trust Indenture Act. If any provision hereof limits, qualifies or
conflicts with another provision hereof which is required to be included in this Supplemental
Indenture by any of the provisions of the Trust Indenture Act, such required provisions shall
control.

     (c) Effect of Headings. The article and section headings herein are included for convenience
only and shall not affect the construction hereof.

     (d) Counterparts. This Supplemental Indenture may be executed in any number of counterparts,
each of which shall be an original, but such counterparts shall together constitute but one and the
same instrument.

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     (e) Severability. In case any provision of this Supplemental Indenture shall be found
invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.

     (f) Benefits of Supplemental Indenture. Nothing in this Supplemental Indenture, express or
implied, shall give to any Person, other than the parties hereto and their successors hereunder and
the Holders, any benefit or any legal or equitable right, remedy or claim under this Supplemental
Indenture.

     (g) Acceptance of Trusts. The Bank of New York hereby accepts the trusts in this
Supplemental Indenture declared and provided, upon the terms and conditions set forth herein and in
the Indenture.

     (h) Governing Law. This Supplemental Indenture shall be deemed to be a contract made under
the laws of the State of New York, and for all purposes shall be construed in accordance with the
laws of said State.

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     IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the day and year first above written.

	 	 	 
	

	ARROW ELECTRONICS, INC., 

as the Company
	 
	 	 
	

	By	 /s/ Paul J. Reilly
	

	 	 
	

	Name:
Title:	 Paul J. Reilly

 Vice President and Chief Financial Officer
	 
	 	 
	

	THE BANK OF NEW YORK,

as Trustee
	 
	 	 
	

	By	 /s/ Kisha A. Holder
	

	 	 
	

	Name:
Title:	 Kisha A. Holder

 Assistant Vice President

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