Document:

VRSN-2014.3.31-10Q-Ex.10.01

EXHIBIT 10.01
VERISIGN, INC. 
 
2006 EQUITY INCENTIVE PLAN 
 
PERFORMANCE-BASED RESTRICTED STOCK UNIT AGREEMENT 
 
The Board of Directors of VeriSign, Inc. has approved a grant to you (the “Participant” named below) of Performance-Based Restricted Stock Units (“RSUs”) pursuant to the VeriSign, Inc. 2006 Equity Incentive Plan (the “Plan”), as described below. Capitalized terms not defined herein shall have the meaning ascribed to them in the Plan. 
 
	
					
	 
	 
	 
	 
	 

	Participant:
	 
	 
	 
	 

	 
	 
	 

	Number of RSUs:
	 
	 
	 
	 

	 
	 
	 

	Date of Grant:
	 
	 
	 
	 

 
1. Grant of Awards. The Company has granted to Participant [NUMBER] RSUs, subject to the terms of this Agreement and the terms of the Plan. The number of RSUs awarded to Participant represents a target award for the Performance Period (as defined below) (the “Target Award”). The number of RSUs of Participant’s actual earned award (the “Actual Award”) will be based upon the level of achievement of the performance goals for the relevant performance periods as set forth in Exhibit A – Performance Goals and Payout Scale for Performance-Based RSUs granted in 2014, as determined by the Compensation Committee (the “Committee”). Each RSU represents the right to receive one (1) Share of Common Stock as set forth herein. 
 
2. Performance Multiplier. The Performance Multiplier shall be determined by reference to achievement of the performance goals for the applicable performance period as set forth in Exhibit A. The Performance Multiplier may range from zero to a maximum of 200% of the Target Award. In the event the Committee determines that the Performance Multiplier equals zero, all RSUs will be forfeited automatically on such date and all the rights of Participant to such RSUs shall immediately terminate. 
 
3. Performance Period. The performance period to which this Agreement applies commences on January 1, 2014 and ends on December 31, 2016 (the “Performance Period”). 
 
4. Vesting Schedule. Participant’s Actual Award will vest as follows: 
 
(a) 100% will be eligible to vest on the later of the date the Committee certifies achievement of the applicable performance goals as set forth in Exhibit A, for the period commencing January 1, 2014 and ending December 31, 2016 (the “Certification Period”) and the date the Company receives an unqualified signed opinion of the Company’s financial statements from its independent registered public accounting firm for the Certification Period (the “Vesting Date”). 
 
5. Settlement. Settlement of vested RSUs shall be made within 30 days following the applicable date of vesting under the above vesting schedule (provided that if at the time of settlement Participant is a “specified employee” of the Company under Section 409A, and settlement would be treated as a payment made on separation of service, then if required to avoid the taxes imposed by Section 409A settlement shall be delayed by six (6) months (or if earlier, until death), or such other period of time as is then required to avoid such taxes). Notwithstanding any provision to the contrary in this agreement, to the extent necessary to avoid the imposition of any taxes under Section 409A, no payment or distribution under this agreement that becomes payable by reason of a Participant’s termination of 

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employment with the Company will be made to such Participant unless such Participant’s termination of employment constitutes a “separation from service” (as such term is defined in Section 409A). For purposes of this agreement, each amount to be paid or benefit to be provided shall be construed as a separate identified payment for purposes of Section 409A. Settlement of vested RSUs shall be in Shares; provided, that pursuant to Section 11, if Shares may not be withheld as a result of foreign tax law, then an appropriate number of RSUs may or may not be automatically settled in cash, depending upon the taxable jurisdiction. In addition, if determined by the Committee in its discretion at the time of payment, RSUs may also be settled in cash or some combination of cash and Shares. The Participant shall pay to the Company the aggregate par value of the Shares issued prior to their issuance (par value being $0.001 per Share) with such payment deemed to have been made for each Share, by Participant’s services from the Date of Grant to the first applicable vesting date. Participant agrees that, if necessary due to applicable law, Participant shall pay to the Company each affected Share’s par value by making appropriate payroll deductions from funds due the Participant. Notwithstanding the issuance of Shares in settlement of the RSUs or the delivery of one or more stock certificates for such Shares, the Shares shall be subject to applicable restrictions on transfer or sale, if any, as may be set forth in the Participant’s written employment or service contract with the Company or pursuant to any policy adopted by the Company, now or hereafter existing, that imposes stock ownership requirements, stock retention requirements or stock sale restrictions on the Participant. To enforce any restrictions or requirements on the Participant’s Shares, the Committee may require the Participant to deposit all certificates, together with stock powers or other instruments of transfer approved by the Committee appropriately endorsed in blank, with the Company or an agent designated by the Company to hold in escrow until such restrictions or requirements have lapsed or terminated, and the Committee may cause a legend or legends referencing such restrictions or requirements to be placed on the certificates. 
 
6. No Stockholder Rights. Unless and until such time as Shares are issued in settlement of vested RSUs, the Participant shall have no ownership of the Shares allocated to the RSUs and shall have no right to vote such Shares, subject to the terms, conditions and restrictions described in the Plan and herein. 
 
7. Dividend Equivalents. On or following the Vesting Date, any dividends paid in cash on Shares of the Company shall be credited to the Participant as additional RSUs as if the RSUs held by the Participant were outstanding Shares, as follows: such credit shall be made in whole and/or fractional RSUs and shall be based on the Fair Market Value of the Shares on the date of payment of such dividend. All such additional RSUs shall be subject to the same time- and performance-based vesting requirements applicable to the RSUs in respect of which they were credited and shall be settled in accordance with, and at the time of, settlement of the vested RSUs to which they are related. 
 
8. No Transfer. The RSUs and any interest therein: (i) shall not be sold, assigned, transferred, pledged, hypothecated, or otherwise disposed of, and (ii) shall, if the Participant’s continuous employment with the Company or any of its affiliates shall terminate for any reason (except as otherwise provided in the Plan or Section 9 below), be forfeited to the Company forthwith, and all the rights of the Participant to such RSUs shall immediately terminate. 
 
9. Termination.
(i)    In the event of a Participant’s Termination by the Company or by the Participant, all unvested RSUs shall (except as otherwise provided in the Plan or herein), be forfeited to the Company forthwith, and all the rights of the Participant to such RSUs shall immediately terminate and the Committee shall settle, in Shares, the value of any vested RSUs (based on the then Fair Market Value of Shares deemed allocated to such vested RSUs on the date of such Termination, as soon as practicable thereafter.
(ii)    In the event of a Participant’s Termination due solely to death or Disability while any RSUs granted hereunder remain unvested, the RSUs that are unvested shall accelerate as follows: (a) if such Termination occurs during the performance period and before the conclusion of such performance period, then the RSUs will fully accelerate based on the target performance achievement; and (b) if such Termination occurs after the conclusion of the performance period but before the award for such performance period has been paid, then the RSUs will fully accelerate based upon the actual performance achievement.
(iii)    In case of any dispute as to whether Termination has occurred, the Committee shall have sole discretion to determine whether such Termination has occurred and the effective date of such Termination. 

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10. Acknowledgement. The Company and the Participant agree that the RSUs are granted under and governed by this Performance-Based Restricted Stock Unit Agreement and by the provisions of the Plan (incorporated herein by reference). The Participant: (i) acknowledges receipt of a copy of the Plan and the Plan prospectus, (ii) represents that the Participant has carefully read and is familiar with their provisions, and (iii) hereby accepts the RSUs subject to all of the terms and conditions set forth herein and those set forth in the Plan. In the event that upon the 30th day after the Date of Grant, the Participant has not refused the RSUs by notice to the Company pursuant to Section 16 hereof, the Participant shall be deemed to have accepted the RSUs subject to all of the terms and conditions set forth herein and those set forth in the Plan. 
 
11. Tax Consequences. The Participant acknowledges that there may be adverse tax consequences upon settlement of the RSUs or disposition of the Shares, if any, received in connection therewith and that the Company recommends that Participant should consult a tax adviser prior to such settlement or disposition. In particular, Participant must make arrangements, satisfactory to the Company, for satisfaction of any applicable foreign, federal, state or local income tax withholding requirements or social security requirements related to the grant of the RSUs or Participant’s receipt of Shares in settlement thereof, including, in either case, any dividend paid in respect thereof. In the event settlement of the RSUs is made in Shares, the Company will satisfy the minimum statutory withholding tax obligation by withholding a certain number of Shares otherwise deliverable from the total number of Shares deliverable to the Participant upon settlement unless Shares may not be withheld as a result of foreign tax law (in which case an appropriate number of RSUs may or may not be automatically settled in cash, depending upon the taxable jurisdiction). In the event that any RSUs are settled in cash, or Shares may not be withheld as a result of foreign tax law, the Participant hereby authorizes the Company to withhold the required minimum amount from Participant’s other sources of compensation from the Company or any Parent or Subsidiary. 
 
12. Compliance with Laws and Regulations. The issuance of Shares will be subject to and conditioned upon compliance by the Company and Participant with all applicable state and federal laws and regulations and with all applicable requirements of any stock exchange or automated quotation system on which the Company’s Common Stock may be listed or quoted at the time of such issuance or transfer. 
 
13. VeriSign Incentive Compensation Recovery Policy in the Case of Inaccurate Financial Statements. The Committee has adopted an incentive compensation recovery policy ( the “Policy”) which applies to all Section 16 executive officers and such other officers as the Committee may designate. The Policy applies whenever there is an inaccurate financial statement, and, as a result, a covered executive has received materially more incentive compensation than would have otherwise occurred. To the extent you are subject to the Policy, you agree that the Committee has discretion to seek recovery of any such overpayment received under this Agreement per the terms of the Policy. 
 
14. Successors and Assigns. The Company may assign any of its rights under this Agreement. This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Agreement will be binding upon Participant and Participant’s heirs, executors, administrators, legal representatives, successors and assigns. 
 
15. Governing Law; Severability. This Agreement shall be governed by and construed in accordance with the internal laws of the Commonwealth of Virginia as such laws are applied to agreements between Virginia residents entered into and to be performed entirely within Virginia, excluding that body of laws pertaining to conflict of laws. If any provision of this Agreement is determined by a court of law to be illegal or unenforceable, then such provision will be enforced to the maximum extent possible and the other provisions will remain fully effective and enforceable. 
 

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16. Notices. Any notice required to be given or delivered to the Company shall be in writing and addressed to the Corporate Secretary of the Company at its principal corporate offices. Any notice required to be given or delivered to Participant shall be in writing (including email) and addressed to Participant at the participant’s Company email address, the address of record or to such other address as Participant may designate in writing from time to time to the Company or may be posted on the Participant’s E*Trade VeriSign employee stock plan account at www.etrade.com. All notices shall be deemed effectively given upon personal delivery, (i) three (3) days after deposit in the United States mail by certified or registered mail (return receipt requested), (ii) one (1) business day after its deposit with any return receipt express courier (prepaid), (iii) one (1) business day after transmission by fax or telecopier, (iv) upon receipt if sent by the Company to the Participant’s email address at the Company, or (v) upon posting on the Participant’s E*Trade VeriSign employee stock plan account at www.etrade.com. 
 
17. Further Instruments. The parties agree to execute such further instruments and to take such further action as may be reasonably necessary to carry out the purposes and intent of this Agreement. 

18. Headings. The captions and headings of this Agreement are included for ease of reference only and are to be disregarded in interpreting or construing this Agreement. 
 
19. Entire Agreement; Modification. The Plan and this Performance-Based Restricted Stock Unit Agreement for these RSUs constitute the entire agreement and understanding of the parties with respect to the subject matter herein and supersede all prior understandings and agreements, whether oral or written, between the parties hereto with respect to the specific subject matter hereof. This Performance-Based Restricted Stock Unit Agreement may be amended only by a written instrument executed by an authorized representative of the Company and effectively given to the Participant pursuant to the methods of delivery set forth in Section 16 above. Any such amendment shall be deemed effective thirty (30) calendar days after the date on which it is effectively given to the Participant as described in Section 16 above, provided the Participant does not provide the Company with a written notice within that thirty (30) day period rejecting the amendment. 
 
Please sign your name in the space provided below on this Performance-Based Restricted Stock Unit Agreement and return an executed copy to: Stock Administration, Attn: Christopher Ricci, VeriSign, Inc., 12061 Bluemont Way, Reston, VA 20190. 
 
 
	
				
	 
	VERISIGN, INC.
	 
	PARTICIPANT

	 
	 
	 
	 

	By:
	 
	 
	 

	 
	(Signature)
	 
	(Signature)

	 
	 
	 
	 

	 
	 
	 
	 

	 
	(Please print name)
	 
	(Please print name)

	 
	 
	 
	 

	 
	(Please print title)
	 
	 

4IM-EX10.1_2014.3.29-Q1

Exhibit 10.1
INGRAM MICRO INC. 
Compensation Policy for Members of the Board of Directors 
(As Amended and Restated as of March 12, 2014) 
Ingram Micro Inc. (the “Corporation”) has established this Compensation Policy for Members of the Board of Directors, as amended and restated previously as of September 17, 2013 (the “Policy”), to provide each member of the Corporation’s Board of Directors (the “Board”) who is not an employee of the Corporation (a “Director”) with compensation for services performed as a Director, the terms of which are hereinafter set forth. 
 	
			
	 
	1.
	Compensation: 

 	
				
	 
	•
	 
	Each Director will receive an annual award of cash and equity-based compensation for each calendar year of service.

 	
				
	 
	•
	 
	The mix of cash and equity-based compensation for the calendar year in which services are provided must be elected by each Director and such election must be received by the Corporation prior to December 31 of the prior calendar year or within 30 days of initial appointment or election to the Board, as the case may be, based on the procedures outlined below. 

 	
				
	 
	•
	 
	Each election must be made by filing an election form with the General Counsel of the Corporation on such form as adopted by the Corporation from time to time. 

 	
				
	 
	•
	 
	If a Director does not file an election form with respect to a calendar year by the specified date, the Director will be deemed to have elected to receive the compensation in the manner elected by the Director in his or her last valid election, or if there had been no prior election, will be deemed to have elected to receive the eligible compensation in the form of non-qualified stock options. 

 	
				
	 
	•
	 
	When an election is made with respect to a calendar year, the Director may not revoke or change that election with respect to such calendar year. 

 	
				
	 
	•
	 
	The mix of cash and equity-based compensation is subject to the following assumptions and restrictions: 

 	
			
	 
	(a)
	Cash Retainer. For cash selected by the Director as a component of annual compensation (the “Cash Retainer”), the amount selected will be subject to the following: 

 	
			
	 
	(1)
	Maximum Amount. The maximum amount of the Cash Retainer that may be selected annually is as follows: 

 	
				
	 
	•
	 
	$100,000 for Directors other than Audit Committee members, Committee chairs and the Non-Executive Chairman of the Board (“NEC”); 

 	
				
	 
	•
	 
	$105,000 for Audit Committee members (other than a Committee chair);

 	
				
	 
	•
	 
	$130,000 for the Audit Committee chair; 

	
				
	 
	•
	 
	$125,000 for the Human Resources Committee chair (subject to an additional $5,000 if also a member of the Audit Committee); 

 	
				
	 
	•
	 
	$120,000 for each of the Governance and IT Committee chairs (subject to an additional $5,000 if also a member of the Audit Committee); 

 	
				
	 
	•
	 
	$110,000 for the Executive Committee chair (subject to an additional $5,000 if also a member of the Audit Committee); and 

 	
				
	 
	•
	 
	$190,000 for the NEC. 

 	
			
	 
	(2)
	Minimum Amount. Audit Committee members and Committee chairs must select a minimum amount of the Cash Retainer annually, as follows: 

 	
				
	 
	•
	 
	$5,000 for Audit Committee members (other than a Committee chair); 

 	
				
	 
	•
	 
	$30,000 for the Audit Committee chair; 

 	
				
	 
	•
	 
	$25,000 for the Human Resources Committee chair (subject to an additional $5,000 if also a member of the Audit Committee); 

 	
				
	 
	•
	 
	$20,000 for each of the Governance and IT Committee chairs (subject to an additional $5,000 if also a member of the Audit Committee); and 

 	
				
	 
	•
	 
	$10,000 for the Executive Committee chair (subject to an additional $5,000 if also a member of the Audit Committee). 

	 
	 
	 
	No minimum amount applies with respect to Directors who do not serve as Audit Committee members or Committee chairs.

 	
			
	 
	(3)
	Payment of Cash Retainer. Subject to Section 1(e)(1) below, the Cash Retainer will be paid at a rate of one-twelfth of the amount selected by the Director per month, on a quarterly basis, in arrears, following the close of each calendar quarter, except that payment of such Cash Retainer for the fiscal fourth quarter shall be made no later than December 31 of such quarter. 

 	
			
	 
	(b)
	Equity-Based Compensation: 

 	
				
	 
	•
	 
	Equity-based compensation payable with regard to shares of the Corporation’s common stock (the “Shares”) must be selected by the Director as a component of annual compensation. 

	
				
	 
	•
	 
	The equity-based compensation must have an annual value of at least $130,000 for Directors other than the NEC, and $260,000 for the NEC, and may consist of stock options, restricted stock, restricted stock units or a combination thereof, and are subject to the following terms and conditions: 

 	
			
	 
	(1)
	Stock Options. Non-qualified stock options will be granted on the first trading day of January of each calendar year. 

 	
				
	 
	•
	 
	The number of options to be granted will be based on a Black-Scholes calculation or other valuation method as may be adopted by the Corporation from time to time. 

 	
				
	 
	•
	 
	The per share exercise price of the Shares to be issued upon exercise of an option shall be 100% of the closing price of a Share on the New York Stock Exchange on the date of grant. 

 	
				
	 
	•
	 
	The options shall (i) vest with respect to one-twelfth of the Shares underlying such options on the last day of each month during the calendar year in which the award was made, and (ii) have a term of ten years. 

 	
				
	 
	•
	 
	Other option provisions will be as specified in the applicable grant agreements. 

 	
			
	 
	(2)
	Restricted Stock and Restricted Stock Units. Restricted stock and restricted stock units will be granted on the first trading day of January each calendar year. 

 	
				
	 
	•
	 
	The number of restricted shares/units to be granted will be determined based on the dollar amount selected by the Director divided by the closing price of a Share on the New York Stock Exchange on the date of grant rounded up to the next whole share. 

 	
				
	 
	•
	 
	Restrictions on disposition of such restricted shares/units shall lapse on December 31 of the calendar year in which the award was made. 

 	
				
	 
	•
	 
	Payment of restricted stock units will be in the form of Shares at the time of vesting (unless deferred under Section 1(e)(2) below), and other provisions will be as specified in the applicable restricted shares/units agreements. 

 	
			
	 
	(c)
	Aggregate Limit on Cash Retainer and Equity-Based Compensation. The aggregate amount of the annual Cash Retainer and the value of the annual equity-based compensation selected by the Director may not exceed the following amounts: 

 	
				
	 
	•
	 
	$230,000 for Directors other than Audit Committee members, Committee chairs and the NEC; 

	
				
	 
	•
	 
	$235,000 for Audit Committee members (other than a Committee chair); 

	
				
	 
	•
	 
	$260,000 for the Audit Committee chair;

 	
				
	 
	•
	 
	$255,000 for the Human Resources Committee chair (subject to an additional $5,000 if also a member of the Audit Committee);

 	
				
	 
	•
	 
	$250,000 for each of the Governance and IT Committee chairs (subject to an additional $5,000 if also a member of the Audit Committee); 

 	
				
	 
	•
	 
	$240,000 for the Executive Committee chair (subject to an additional $5,000 if also a member of the Audit Committee); and 

 	
				
	 
	•
	 
	$450,000 for the NEC. 

 	
			
	 
	(d)
	Partial Years of Service: 

 	
			
	 
	(1)
	If the Director is newly appointed or elected during a calendar year such that the Director will serve a partial year, the annual cash and equity-based compensation selected by the Director will be prorated during the calendar year using the number of months remaining to be served within the initial calendar year of Board service, divided by 12, commencing with the month that the Director is first appointed or elected to the Board. Equity-based compensation will be granted on the first trading day of the month following the appointment or election to the Board. Stock options will vest proportionately on the last day of each month during the calendar year in which the award was made. Restrictions on the disposition of restricted stock and restricted stock units will lapse on December 31 of the calendar year in which the award was made (except as otherwise provided with respect to restricted stock units that are deferred pursuant to Section 1(e)(2) below). 

 	
			
	 
	(2)
	If the Director’s service on the Board ends during a calendar year such that the Director will serve a partial year, the annual cash and equity-based compensation selected by the Non-Executive Director will be prorated using the number of months of service on the Board during the calendar year, divided by 12, including the month that he or she ceases to serve on the Board. Any unvested stock options shall cease to vest effective immediately following the last month of service on the Board. Any vested options shall be exercisable for a period of five years following the date of conclusion of service on the Board, unless they expire earlier. Restricted stock/units will be prorated using the number of months served on the Board during the calendar year as the numerator, divided by 12. Restrictions on the disposition of restricted stock and restricted stock units will lapse on the last day of the month of the Director’s service on the Board (except as otherwise provided with respect to restricted stock units that are deferred pursuant to Section 1(e)(2) below). 

 	
			
	 
	(3)
	If a member of the Audit Committee or a Committee chair is appointed to the applicable Committee during the calendar year of service (i.e., between January and December) he or she will be eligible to receive the additional Cash Retainer for serving in such position at a rate of one-twelfth of such amount per month commencing with the month in which the appointment takes effect. Similarly, if a member of the Audit Committee or a Committee chair relinquishes his or her position during the calendar year, he or she will cease to receive the additional Cash Retainer for serving in such position on the last day of the month in which he or she ceases to serve as a member of the Audit Committee or chair to a Committee, respectively. 

	
			
	 
	(e)
	Deferral Elections: 

 	
			
	 
	(1)
	Cash Retainer. The Director may elect to defer any Cash Retainer payable with respect to a calendar year of service in accordance with the Ingram Micro Inc. Board of Directors Deferred Compensation Plan, as in effect from time to time, a copy of which is attached hereto as Exhibit A. 

 

	
			
	 
	(2)
	Restricted Stock Units. The Director may elect to defer settlement of Shares payable with respect to any restricted stock units that will be granted to the Director with respect to a calendar year of service, subject to the terms and conditions set forth in this Section 1(e)(2), the restricted stock unit deferral election form as adopted by the Corporation from time to time, and Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations thereunder. 

 	
			
	 
	(A)
	The Director may elect to defer settlement of 100% of the restricted stock units that the Director elected to receive with respect to a calendar year of service pursuant to Section 1(b) above (and which are otherwise scheduled to vest as of the end of such calendar year) by filing a completed restricted stock unit deferral election form with the General Counsel of the Corporation. The Director must file the deferral election form no later than December 31 of the prior calendar year for the calendar year in which service is to be provided; provided however, that if the Director is newly appointed or elected to the Board during a calendar year, the Director may elect to defer settlement of restricted stock units within 30 days of initial appointment or election to the Board with respect to restricted stock units that relate to service performed after the election in accordance with Treasury Regulation Section 1.409A-2(a)(7). When a deferral election is made with respect to a calendar year, the Director may not revoke or change that election with respect to such calendar year. The Director must irrevocably elect the specified date(s) and increment(s) with respect to which the Director will receive the Shares associated with the settlement of the restricted stock units that the Director has elected to defer (the “Settlement Date”) as provided under the deferral election form in accordance with such form. In the event that the Director fails to elect a Settlement Date, settlement of the restricted stock units will occur on the date of the Director’s “separation from service” (within the meaning of Section 409A(a)(2)(A)(i) of the Code and Treasury Regulation Section 1.409A-1(h)) (a “Separation from Service”). All deferral elections shall be made in accordance with rules and procedures established by the Corporation as determined in accordance with Treasury Regulation Section 1.409A-2(a). 

 	
			
	 
	(B)
	The Director shall receive payment of the Shares on the Settlement Date(s) elected by the Director (or the date of the Director’s Separation from Service in the event that the Director fails to elect a Settlement Date) pursuant to the deferral election form as described in paragraph (A) above. 

 	
			
	 
	2.
	Expense Reimbursements. The Director will be reimbursed for travel, lodging and meal expenses incurred to attend Board and Committee meetings and to perform his or her duties as a 

 	
			
	 
	 
	Director in accordance with the Corporation’s plans or policies as in effect from time to time. To the extent that any such reimbursements are deemed to constitute compensation to the Director, such amounts shall be reimbursed no later than December 31 of the year following the year in which the expense was incurred. The amount of any expense reimbursements that constitute compensation in one year shall not affect the amount of expense reimbursements constituting compensation that are eligible for reimbursement in any subsequent year, and the Director’s right to such reimbursement of any such expenses shall not be subject to liquidation or exchange for any other benefit. 

 	
			
	 
	3.
	Ownership Requirement. Each director is required to achieve and maintain ownership of shares of our common stock with an aggregate value (market price multiplied by the number of shares) equal to three times the maximum amount of cash retainer that may be selected by each member of the Board in their capacity as Board members under the Company’s Compensation Policy for Members of the Board of Directors (not taking into account additional cash compensation for other special roles on the Board such as being the Chairman of the Board, a Committee chair or being a member of a specific Board Committee) beginning five years from the date of his or her election to the Board. For the avoidance of doubt, vested stock options held by the Board member which are not exercised are not considered for purposes of director equity ownership; however, vested restricted stock units which have been deferred until after a Board member’s retirement from the Board are included for purposes of director equity ownership. 

	
			
	 
	4.
	Section 409A. To the extent applicable, this Policy and all election forms and all other instruments evidencing amounts subject to the Policy shall be interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretive guidance issued thereunder. Notwithstanding any provision of the Policy, any election form or any other instrument evidencing amounts subject to the Policy to the contrary, in the event that the Corporation determines that any amounts subject to the Policy may not be either exempt from or compliant with Section 409A of the Code, the Corporation may in its sole discretion adopt such amendments to the Policy, any election form and any other instruments relating to the Policy, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Corporation determines are necessary or appropriate to (i) exempt such amounts from Section 409A of the Code and/or preserve the intended tax treatment of such amounts, or (ii) comply with the requirements of Section 409A of the Code and related Department of Treasury guidance; provided, however, that this Section 4 shall not create any obligation on the part of the Corporation to adopt any such amendment, policy or procedure or take any such other action. 

Exhibit A 
Ingram Micro Inc. 
Board of Directors Deferred Compensation Plan 
(includes the adoption agreement and basic plan document) 
[Same as previous Exhibit A to 
Compensation Policy for Members of 
the Board of Directors as Amended and Restated December 1, 2010]

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