Document:

Exhibit 10.3

 

Exhibit 10.3

GUARANTY AND SURETYSHIP AGREEMENT

     THIS GUARANTY AND SURETYSHIP AGREEMENT (this “Guaranty”) dated as of the 24th day
of January, 2005, made by the Guarantors identified as such on the signature page hereof (each a
”Guarantor” and collectively “Guarantors”), to the lenders parties to the Credit Agreement (as
defined below) from time to time (the “Lenders”) and CITIZENS BANK OF PENNSYLVANIA, a banking
association organized under the laws of the Commonwealth of Pennsylvania, as agent for the Lenders
(in such capacity, together with its successors in such capacity, the “Agent”).

W I T N E S S E T H:

     WHEREAS, certain of the Guarantors, Black Box Corporation of Pennsylvania, a Delaware
corporation (the “Borrower”), Black Box Corporation, a Delaware corporation (the “Parent”), certain
of the Lenders and the Agent (through its predecessor in interest, Mellon Bank, N.A.) entered into
that certain Credit Agreement dated April 4, 2000, as amended (the “Original Credit Agreement”),
pursuant to which the Lenders made a revolving credit facility available to the Borrower;

     WHEREAS, certain of the Guarantors, the Borrower, the Parent, certain of the Lenders and the
Agent entered into that certain Amended and Restated Credit Agreement dated as of June 30, 2004
which amended and restated the Original Credit Agreement (the “Existing Credit Agreement”),
pursuant to which the Lender parties to the Existing Credit Agreement made a revolving credit
facility available in the maximum aggregate amount of $120,000,000 available to the Borrower;

     WHEREAS, in connection with the Original Credit Agreement, certain of the Guarantors executed
and delivered to the Lenders and the Agent that certain Guaranty and Suretyship Agreement dated as
of April 4, 2000, and in connection with the Existing Credit Agreement, certain of the Guarantors
executed and delivered to the Lenders and the Agent that certain Guaranty and Suretyship Agreement
dated as of June 30, 2004 (collectively the “Existing Guaranty”);

     WHEREAS, Guarantors, the Borrower, SF Acquisition Co. (collectively with the Borrower, the
“Borrowers”), the Parent, the Lenders and the Agent are parties to a Second Amended and Restated
Credit Agreement, dated as of January 24, 2005 (as amended, the “Credit Agreement”) which amends
and restates the Existing Credit Agreement; and

     WHEREAS, the Guarantors will derive substantial direct and indirect benefit from the
transactions contemplated by the Credit Agreement; and

     WHEREAS, it is a condition precedent to the extension of credit under the Credit Agreement
that the Guarantors execute and deliver this Guaranty; and

 

 

     WHEREAS, this Guaranty, among other things, is made by the Guarantors to induce the Lenders to
enter into the Loan Documents (as defined in the Credit Agreement) and to induce the Lenders to
extend credit under the Credit Agreement;

     WHEREAS, this Guaranty amends and restates the Existing Guaranty.

     NOW, THEREFORE, in consideration of the premises and other good and valuable consideration,
the receipt of which is hereby acknowledged by each Guarantor, and intending to be legally bound,
each Guarantor hereby agrees as follows:

ARTICLE I.

DEFINITIONS

     1.1 Definitions.

          (a) Certain Definitions. Capitalized terms not otherwise defined herein shall have the
meanings given in the Credit Agreement. In addition to the other terms defined elsewhere in this
Agreement, as used herein the following terms shall have the following meanings:

     “Guaranteed Obligations” shall mean all obligations from time to time of the
Borrowers, collectively or individually, to the Agent or any Lender under or in connection
with any Loan Document, including all obligations to pay principal, interest, fees,
indemnities or other amounts under such Loan Documents, in each case whether such
obligations are direct or indirect, secured or unsecured, joint or several, absolute or
contingent, due or to become due, whether for payment or performance, now existing or
hereafter arising (including interest and other obligations arising or accruing after the
commencement of any bankruptcy, insolvency, reorganization, dissolution or similar
proceeding with respect to the Borrowers or any other Person, or which would have arisen or
accrued but for the commencement of such proceeding, even if such obligation or the claim
therefor is not enforceable or allowable in such proceeding).

ARTICLE II.

GUARANTY AND SURETYSHIP

     2.1 Guaranty and Suretyship. Each Guarantor hereby jointly and severally absolutely,
unconditionally and irrevocably guarantees and becomes surety for the full and punctual payment and
performance of the Guaranteed Obligations as and when such payment or performance shall become due
(at scheduled maturity, by acceleration or otherwise) in accordance with the terms of the Loan
Documents. This Agreement is an agreement of suretyship as well as of guaranty, is a guarantee of
payment and performance and not merely of collectibility, and is in no way conditioned upon any
attempt to collect from or proceed against the Borrowers or any other Person or any other event or
circumstance. The obligations of the Guarantors under this Agreement are direct and primary
obligations of each Guarantor and are independent of the Guaranteed Obligations, and a separate
action or actions may be brought against any Guarantor regardless of whether action is brought
against the Borrowers or any other Person or whether the Borrowers or any other Person is joined in
any such action or actions.

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     2.2 Obligations Absolute. Each Guarantor agrees that the Guaranteed Obligations will
be paid and performed strictly in accordance with the terms of the Loan Documents, regardless of
any law, regulation or order now or hereafter in effect in any jurisdiction affecting the
Guaranteed Obligations, any of the terms of the Loan Documents or the rights of the Agent or any
Lender or any other Person with respect thereto. The obligations of the Guarantors under this
Agreement shall be absolute, unconditional and irrevocable, irrespective of any of the following:

          (a) any lack of legality, validity, enforceability, allowability (in a bankruptcy, insolvency,
reorganization, dissolution or similar proceeding, or otherwise), or any avoidance or
subordination, in whole or in part, of any Loan Document or any of the Guaranteed Obligations;

          (b) any change in the amount, nature, time, place or manner of payment or performance of, or
in any other term of, any of the Guaranteed Obligations (whether or not such change is contemplated
by the Loan Documents as presently constituted, and specifically including any increase in the
Guaranteed Obligations, whether resulting from the extension of additional credit to the Borrowers
or otherwise), any execution of any additional Loan Documents, or any amendment or waiver of or any
consent to departure from any Loan Document;

          (c) any taking, exchange, release, impairment or nonperfection of any collateral, or any
taking, release, impairment or amendment or waiver of or consent to departure from any other
guaranty or other direct or indirect security for any of the Guaranteed Obligations;

          (d) any manner of application of collateral or other direct or indirect security for any of
the Guaranteed Obligations, or proceeds thereof, to any of the Guaranteed Obligations, or any
commercially reasonable manner of sale or other disposition of any collateral for any of the
Guaranteed Obligations or any other assets of the Borrowers;

          (e) any permanent impairment by any Lender or any other Person of any recourse of the
Guarantor against the Borrowers or any other Person, or any other permanent impairment by any
Lender or any other Person of the suretyship status of the Guarantor;

          (f) any bankruptcy, insolvency, reorganization, dissolution or similar proceedings with
respect to, or any change, restructuring or termination of the corporate structure or existence of,
the Borrowers, any Guarantor or any other Person; or

          (g) any failure of any Lender or any other Person to disclose to any Guarantor any information
pertaining to the business, operations, condition (financial or other) or prospects of the
Borrowers or any other Person, or to give any other notice, disclosure or demand.

     2.3 Waivers, etc. Each Guarantor hereby irrevocably waives any defense to or
limitation on its obligations under this Agreement arising out of or based upon any matter referred
to in Section 2.2 and, without limiting the generality of the foregoing, any requirement of
promptness, diligence or notice of acceptance, any other notice, disclosure or demand with respect
to any of the Guaranteed Obligations and this Agreement, any requirement of acceptance hereof,
reliance hereon or knowledge hereof by the Agent or any Lender, and any requirement that the Agent
or

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any Lender protect, secure, perfect or insure any lien or any property subject thereto or
exhaust any right or take any action against the Borrowers or any other Person or any collateral or
other direct or indirect security for any of the Guaranteed Obligations. Notwithstanding the
foregoing sentence, each Guarantor’s waiver under this Section 2.3 shall apply only to each
Guarantor’s obligations hereunder and shall not limit or waive any of such Guarantor’s rights or
obligations as a borrower under the Credit Agreement or any subrogation rights.

     2.4 Reinstatement. This Agreement shall continue to be effective, or be automatically
reinstated, as the case may be, if at any time payment of any of the Guaranteed Obligations is
avoided, rescinded or must otherwise be returned by the Agent or any Lender for any reason, all as
though such payment had not been made.

     2.5 No Stay. Without limiting the generality of any other provision of this
Agreement, if any acceleration of the time for payment or performance of any Guaranteed Obligation,
or any condition to any such acceleration, shall at any time be stayed, enjoined or prevented for
any reason (including stay or injunction resulting from the pendency against the Borrowers or any
other Person of a bankruptcy, insolvency, reorganization, dissolution or similar proceeding), each
Guarantor agrees that, for purposes of this Agreement and its obligations hereunder, at the option
of the Agent such Guaranteed Obligation shall be deemed to have been accelerated and such condition
to acceleration shall be deemed to have been met.

     2.6 Payments. All payments to be made by the Guarantors pursuant to this Agreement
shall be made at the times and in the manner prescribed for payments in Articles II and III of the
Credit Agreement, without setoff, counterclaim, withholding or other deduction of any nature. All
payments made by the Guarantors pursuant to this Agreement may be applied to the Guaranteed
Obligations and all other amounts payable under this Agreement in such order as the Agent may
elect.

     2.7 Subrogation. Etc. Any rights which any Guarantor may have or acquire by way of
subrogation, reimbursement, restitution, exoneration, contribution or indemnity, and any similar
rights (whether arising by operation of law, by agreement or otherwise), against the Borrowers
arising from the existence, payment, performance or enforcement of any of the obligations of any
Guarantor under or in connection with this Agreement, shall be subordinate in right of payment to
the Guaranteed Obligations, and the Guarantors shall not exercise any such rights until all
Guaranteed Obligations and all other obligations under this Agreement have been paid in cash or
such other manner as may be acceptable to the Agent and performed in full and all commitments to
extend credit under, and all Letters of Credit issued under, the Loan Documents shall have
terminated. If, notwithstanding the foregoing, any amount shall be received by any Guarantor on
account of any such rights at any time prior to the time at which all Guaranteed Obligations and
all other obligations under this Agreement shall have been paid in cash or such other manner as may
be acceptable to the Agent and performed in full and all commitments to extend credit under, and
all Letters of Credit issued under, the Loan Documents shall have terminated, such amount shall be
held by such Guarantor in trust for the benefit of the Lenders, segregated from other funds held by
such Guarantor, and shall be forthwith delivered to Agent for the benefit of the Lenders in the
exact form received by such Guarantor (with any necessary endorsement), to be applied to the
Guaranteed Obligations, whether matured or unmatured, in such order as the

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Agent may elect, or to be held by the Agent as security for the Guaranteed Obligations and
disposed of by the Agent in any lawful manner, all as the Agent may elect.

     2.8 Continuing Agreement. This Agreement is a continuing guaranty and shall continue
in full force and effect until all Guaranteed Obligations and all other amounts payable under this
Agreement have been paid in cash or such other manner as may be acceptable to the Agent and
performed in full, and all commitments to extend credit under, and all Letters of Credit issued
under, the Loan Documents have terminated, subject in any event to reinstatement in accordance with
Section 2.4. Without limiting the generality of the foregoing, each Guarantor hereby irrevocably
waives any right to terminate or revoke this Agreement.

     2.9 Limitation on Obligations. Notwithstanding any other provision hereof, to the
extent that mandatory and nonwaivable provisions of applicable Law pertaining to fraudulent
transfer or fraudulent conveyance otherwise would render the full amount of the obligations of the
Guarantors under this Agreement avoidable, invalid or unenforceable, the obligations of each
Guarantor under this Agreement shall be limited to the maximum amount which does not result in such
avoidability, invalidity or unenforceability. In any action, suit or proceeding pertaining to this
Agreement, the burden of proof, by clear and convincing evidence, shall be on the Person claiming
that this Section 2.9 applies to limit any obligation of any Guarantor under this Agreement, or
claiming that any obligation of any Guarantor under this Agreement is avoidable, invalid or
unenforceable, as to each element of such claim.

ARTICLE III.

REPRESENTATIONS AND WARRANTIES

     Each Guarantor hereby jointly and severally represents and warrants to the Agent and the
Lenders as follows:

     3.1 Credit Agreement. The provisions of Article IV of the Credit Agreement are hereby
incorporated by reference (together with all related definitions and cross references). Each
Guarantor hereby jointly and severally represents and warrants to the Agent and the Lenders as
provided therein.

     3.2 Representations and Warranties Remade at Each Extension of Credit. Each request
(including any deemed request) by the Borrowers for any extension of credit under any Loan Document
shall be deemed to constitute a representation and warranty by the Guarantors to the Agent and the
Lenders that the representations and warranties made by the Guarantors in this Article III are true
and correct on and as of the date of such request with the same effect as though made on and as of
such date. Failure by the Agent to receive notice from any Guarantor to the contrary before the
Lenders make any extension of credit under any Loan Document shall constitute a further
representation and warranty by the Guarantors to the Agent and the Lenders that the representations
and warranties made by the Guarantors in this Article III are true and correct on and as of the
date of such extension of credit with the same effect as though made on and as of such date.

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ARTICLE IV.

COVENANTS

     4.1 Covenants Generally. Reference is hereby made to the provisions of Articles VI
and VII of the Credit Agreement (together with all related definitions and cross references). To
the extent such provisions impose upon the Borrowers a duty to cause any Guarantor (or a Subsidiary
of each Guarantor) to do or refrain from doing certain acts or things or to meet or refrain from
meeting certain conditions, each Guarantor shall (or shall cause such Subsidiary of such Guarantor
to, as the case may be) do or refrain from doing such acts or things, or meet or refrain from
meeting such conditions, as the case may be.

ARTICLE V.

MISCELLANEOUS

     5.1 Amendments, etc. No amendment to or waiver of any provision of this Agreement,
and no consent to any departure by any Guarantor herefrom, shall in any event be effective unless
in a writing manually signed by or on behalf of each Lender and each Guarantor; provided that this
Agreement may be terminated and any Guarantor or Guarantors may be released herefrom with the
written consent of the Required Lenders in connection with the sale or other disposition of all of
the capital stock of and other equity interests in such Guarantor to a Person or Persons other than
the Borrowers or a Subsidiary of the Borrowers, which sale or other disposition is in compliance
with the Credit Agreement and the Loan Documents. Any such waiver or consent shall be effective
only in the specific instance and for the specific purpose for which given.

     5.2 No Implied Waiver: Remedies Cumulative. No delay or failure of the Agent or any
Lender in exercising any right or remedy under this Agreement shall operate as a waiver thereof;
nor shall any single or partial exercise of any such right or remedy preclude any other or further
exercise thereof or the exercise of any other right or remedy. The rights and remedies of the Agent
and the Lenders under this Agreement are cumulative and not exclusive of any other rights or
remedies available hereunder, under any other agreement, at law, or otherwise.

     5.3 Notices. Except to the extent, if any, otherwise expressly provided herein, all
notices and other communications (collectively, “notices”) under this Agreement shall be in writing
(including facsimile transmission) and shall be sent by certified or registered mail, by
nationally-recognized overnight courier or by personal delivery. All notices shall be sent to the
address specified in the Credit Agreement for the applicable party, or, in any case, to such other
address as shall have been designated by the applicable party by notice to the other party hereto.
Any properly given notice shall be effective when received, except that properly given notices to a
Guarantor shall be effective at the following time, if earlier: if given by telephone, when
telephoned; if by first-class mail, three Business Days after deposit in the mail; if by domestic
overnight courier, one Business Day after pickup by such courier; and if by facsimile transmission,
upon transmission. The Agent and the Lenders may rely on any notice (whether or not made in a
manner contemplated by this Agreement) purportedly made by or on behalf of a Guarantor, and Agent
and the Lenders shall have no duty to verify the identity or authority of the Person giving such
notice.

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     5.4 Expenses. Each Guarantor agrees to pay upon demand all reasonable expenses
(including reasonable fees and expenses of counsel) which the Agent or any Lender may incur from
time to time arising from or relating to the administration of, or exercise, enforcement or
preservation of rights or remedies under, this Agreement, other than costs and expenses incurred by
the Agent or any Lender, respectively, in connection with any litigation which results in a final,
non-appealable judgment against the Agent or such Lender.

     5.5 Entire Agreement. This Agreement constitutes the entire agreement of the parties
hereto with respect to the subject matter hereof and supersedes all prior and contemporaneous
understandings and agreements.

     5.6 Survival. All representations and warranties of the Guarantors contained in or
made in connection with this Agreement shall survive, and shall not be waived by, the execution and
delivery of this Agreement, any investigation by or knowledge of the Agent or any Lender, any
extension of credit, or any other event or circumstance whatever.

     5.7 Counterparts. This Agreement may be executed in any number of counterparts,
including facsimile counterparts, each of which shall be deemed an original, and all such
counterparts shall constitute but one and the same agreement.

     5.8 Setoff. In the event that any obligation of any Guarantor now or hereafter
existing under this Agreement or any other Loan Document shall have become due and payable, after
an Event of Default under the Loan Documents has occurred, each Lender shall have the right from
time to time, without notice to such Guarantor, to set off against and apply to such due and
payable amount any obligation of any nature of each Lender to the Guarantor, including all deposits
(whether time or demand, general or special, provisionally or finally credited, however evidenced)
now or hereafter maintained by such Guarantor with such Lender. Such right shall be absolute and
unconditional in all circumstances and, without limitation, shall exist whether such obligation to
such Guarantor is absolute or contingent, matured or unmatured (it being agreed that each Lender
may deem such obligation to be then due and payable at the time of such setoff), regardless of the
offices or branches through which the parties are acting with respect to the offset obligations,
regardless of whether the offset obligations are denominated in the same or different currencies,
and regardless of the existence or adequacy of any other direct or indirect security or any other
right or remedy available to such Lender. Nothing in this Agreement or any other Loan Document
shall be deemed a waiver of or restriction on any right of setoff or banker’s lien available to any
Lender under this Section 5.8, at law or otherwise. Each Guarantor hereby agrees that any affiliate
of any Lender, and any holder of a participation in any Guaranteed Obligations of any Guarantor
under this Agreement, shall have the same rights of setoff as each Lender as provided in this
Section 5.8 (regardless of whether such affiliate or participant otherwise would be deemed a
creditor of such Guarantor).

     5.9 Construction. In this Agreement, unless the context otherwise clearly requires,
references to the plural include the singular, the singular the plural, and the part the whole; the
neuter case includes the masculine and feminine cases; and “or” is not exclusive. In this
Agreement, any references to property (or similar terms) include any interest in such property (or
other item referred to); “include,” “includes,” “including” and similar terms are not limiting; and
“hereof,” “herein,” “hereunder” and similar terms refer to this Agreement as a whole and not to

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any particular provision; Section and other headings in this Agreement, and any table of
contents herein, are for reference purposes only and shall not affect the interpretation of this
Agreement in any respect. Section and other references in this Agreement are to this Agreement
unless otherwise specified. This Agreement has been fully negotiated between the applicable
parties, each party having the benefit of legal counsel, and accordingly neither any doctrine of
construction of guaranties or suretyships in favor of the guarantor or surety, nor any doctrine of
construction of ambiguities against the party controlling the drafting, shall apply to this
Agreement.

     5.10 Successors and Assigns. This Agreement shall be binding upon each Guarantor, its
successors and assigns, and shall inure to the benefit of and be enforceable by the Agent, the
Lenders and their respective successors and assigns. Without limitation of the foregoing, the Agent
or any Lender (and any successive assignee or transferee) from time to time may assign or otherwise
transfer all or any portion of its rights or obligations under the Loan Documents (including all or
any portion of any commitment to extend credit), or any Guaranteed Obligations, to any other
Person, and such Guaranteed Obligations (including any Guaranteed Obligations resulting from
extension of credit by such other Person under or in connection with the Loan Documents) shall be
and remain Guaranteed Obligations entitled to the benefit of this Agreement, and to the extent of
its interest in such Guaranteed Obligations such other Person shall be vested with all the benefits
in respect thereof granted to the Agent or any Lender, as the case may be, in this Agreement or
otherwise.

     5.11 Certain Legal Matters.

          (a) Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the Commonwealth of Pennsylvania, exclusive of choice of law principles.

          (b) Submission to Jurisdiction and Venue: Consent to Service of Process: Waiver of Jury
Trial: Etc. Each Guarantor hereby irrevocably and unconditionally:

     (i) agrees that any action, suit or proceeding by any Person arising from or
relating to this Agreement or any other Loan Document or any statement, course of
conduct, act, omission or event in connection with any of the foregoing
(collectively, “Related Litigation”) may be brought in any state or federal court of
competent jurisdiction sitting in Allegheny County, Pennsylvania, submits to the
jurisdiction of such courts, and agrees not to bring any Related Litigation in any
other forum (but nothing herein shall affect the right of the Agent or any Lender to
bring any Related Litigation in any other forum);

     (ii) acknowledges that such courts will be the most convenient forum for any
Related Litigation, waives any objection to the laying of venue of any Related
Litigation brought in any such court, waives any claim that any Related Litigation
brought in any such court has been brought in an inconvenient forum, and waives any
right to object, with respect to any Related Litigation, that such court does not
have jurisdiction over it;

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     (iii) consents and agrees to service of any summons, complaint or other legal
process in any Related Litigation by registered or certified U.S. mail, postage
prepaid, to it at the address for notices described in this Agreement, and consents
and agrees that such service shall constitute in every respect valid and effective
service (but nothing herein shall affect the validity or effectiveness of process
served in any other manner permitted by law); and

     (iv) waives the right to trial by jury in any Related Litigation.

          (c) Limitation of Liability. No claim may be made by any Guarantor against the Agent
or any Lender or any affiliate, director, officer, employee, attorney or agent of the Agent or any
Lender for any special, indirect, consequential or punitive damages in respect of any claim arising
from or relating to this Agreement or any other Loan Document or any statement, course of conduct,
act, omission or event in connection with any of the foregoing (whether based on breach of
contract, tort or any other theory of liability); and each Guarantor hereby waives, releases and
agrees not to sue upon any claim for any such damages, whether or not accrued and whether or not
known or suspected to exist.

     Each Guarantor acknowledges that it has been represented by legal counsel in connection with
the execution and delivery of this Agreement and that it understands the provisions of this
Agreement.

[SIGNATURE ON FOLLOWING PAGE]

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SIGNATURE PAGE 1 OF 1 TO SUBSIDIARY GUARANTY

     IN WITNESS WHEREOF, each Guarantor has executed and delivered this Agreement as of the date
first above written.

	 	 	 	 	 	 	 
	 	 	GUARANTORS:
	 
	 	 	 	 	 	 
	 	 	Each of the GUARANTORS listed in Schedule I attached hereto and made part
hereof.
	 
	 	 	 	 	 	 
	

	 	By:
	 	/s/ Michael McAndrew	 	 
	

	 	 	 	 	 	 
	

	 	Name:
	 	Michael McAndrew	 	 
	

	 	Title:
	 	Secretary	 	 
	 	 	of each of the GUARANTORS listed on Schedule I hereto

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Schedule I

GUARANTORS

BBox Holding Company

Atimco Network Services, Inc.

American Telephone Wiring Company

Midwest Communications Technologies, Inc.

Associated Network Solutions, Inc.

Advanced Communications Corporation

Cable Consultants, Incorporated

Todd Communications, Inc.

Comm Line, Inc.

Koncepts Communications of L.I., Corp.

Communication Contractors, Inc.

U.S. Premise Networking Services, Inc.

Black Box Network Services, Inc. — Government Solutions

R&D Services, Inc.

Delaney Telecom, Inc.

Delaney Electrical Services, Inc.

K&A Communications, Inc.

Jet Line Communications, Inc.

FBS Communications, LP

A.T.S., Inc.

Advanced Network Technologies, Inc.

Teldata Corporation

ST Communications & Cabling, Inc.

Black Box Network Services & Electrical, Inc.

Black Box Network Services Baltimore, Inc.

Datel Communications, Inc.

Midwest Electronics and Communications, Inc.

Duracom, Inc.

Michael Electric, Inc.

Integrated Cabling Systems, Inc.

DESIGNet, Inc.

Telefuture Communications, Inc.

BB Technologies, Inc.

11<PAGE>
                                                                   Exhibit 10(a)

                                SYSCO CORPORATION
             AMENDED AND RESTATED NON-EMPLOYEE DIRECTORS STOCK PLAN

                         RETAINER STOCK AWARD AGREEMENT

         This Retainer Stock Award Agreement ("Agreement") was made and entered
into as of __________________ ("Date of Grant"), by and between Sysco
Corporation, a Delaware corporation (hereinafter "SYSCO") and
________________________, a director of SYSCO (hereinafter "Director").

                              W I T N E S S E T H:

         WHEREAS, the Board of Directors of SYSCO has adopted, and SYSCO's
stockholders have approved, the Sysco Corporation Amended and Restated
Non-Employee Directors Stock Plan (the "Plan"), the purpose of which is to
promote the interests of SYSCO and its stockholders by enhancing SYSCO's ability
to attract and retain the services of experienced and knowledgeable directors
and by encouraging such directors to acquire an increased proprietary interest
in SYSCO through the ownership of common stock, $1.00 par value, of SYSCO
("Common Stock"); and

         WHEREAS, the Plan provides that each non-employee director shall
receive a retainer stock award; and

         WHEREAS, Director desires to continue to serve on the Board of
Directors of SYSCO and to accept said retainer stock award in accordance with
the terms and provisions of the Plan and this agreement;

         NOW, THEREFORE, in consideration of the foregoing, the parties agree as
follows:

1.       GRANT OF RETAINER STOCK AWARD.

         SYSCO grants to Director 4,000 shares of restricted Common Stock (the
"Retainer Stock Award"). The Retainer Stock Award shall be subject to vesting as
set forth in the Plan and summarized below:

         (a)      One-third of the Retainer Stock Award shall vest two years
                  from the Date of Grant if the average increase in after-tax
                  basic earnings per share of Common Stock ("EPS") over the two
                  most recent fiscal years ending prior to the second
                  anniversary of the Date of Grant is 10% or more.

         (b)      An additional one-third of the Retainer Stock Award shall vest
                  after four years from the Date of Grant if the average
                  increase in EPS over the two most recent fiscal years ending
                  prior to the fourth anniversary of the Date of Grant is 10% or
                  more, and if the first third of the Retainer Stock Award did
                  not vest under subparagraph (a) above, the first third will
                  also vest if the average increase in EPS over the four most
                  recent fiscal years ending prior to the fourth anniversary of
                  the Date of Grant is 10% or more.

         (c)      The final one-third of the Retainer Stock Award shall vest
                  after six years from the Date of Grant if the average increase
                  in EPS over the two most recent fiscal years ending prior to
                  the sixth anniversary of the Date of Grant is 10% or more.
<PAGE>

         (d)      Notwithstanding the foregoing, 100% of the Retainer Stock
                  Award shall vest if the average increase in EPS over the six
                  most recent fiscal years ending prior to the sixth anniversary
                  of the Date of Grant is 10% or more.

         (e)      Any unvested portion of a Retainer Stock Award shall vest upon
                  the occurrence of a Change in Control. For purposes of this
                  Agreement, "Change in Control" means that a person or persons
                  who are acting together for the purpose of acquiring an equity
                  interest in SYSCO acquire beneficial ownership (as defined in
                  Rule 13d-3 promulgated under the Securities Exchange Act of
                  1934, as amended) of 20% or more of the outstanding Common
                  Stock.

2.       RESTRICTION ON TRANSFER.

         The restricted Common Stock granted as a Retainer Stock Award and this
Agreement shall not be sold, pledged, assigned, transferred, or encumbered prior
to the time the Retainer Stock Award vests as described above.

3.       DEPOSIT WITH SYSCO.

         Each certificate of Restricted Stock awarded hereunder shall be
registered in the name of the Director and left on deposit with SYSCO with a
Stock Power endorsed in blank during the Restricted Period.

4.       CERTAIN RIGHTS OF DIRECTOR.

         Director, as owner of shares of restricted Common Stock granted as a
Retainer Stock Award, shall have all the rights of a stockholder, including, but
not limited to, the right to vote such shares and the right to receive all
dividends paid with respect to such shares; provided, that all such rights shall
be forfeited in respect to any portion of the Retainer Stock Award as of the
date all or any portion of such award is forfeited.

5.       FORFEITURE UPON TERMINATION.

         Except as set forth below and unless otherwise determined by the Board,
if Director ceases to be a Non-Employee Director (as defined in the Plan) prior
to vesting of any portion of a Retainer Stock Award, Director shall forfeit the
portion of the Retainer Stock Award which is not vested on the date he ceases to
be a Non-Employee Director; provided, however, that unless otherwise determined
by the Board, if (a) Director serves out her term but does not stand for
re-election at the end thereof or (b) Director shall retire from service on the
Board (for reasons other than death) prior to the expiration of her term and on
or after the date he attains age 71, Director's Retainer Stock Award shall
remain in effect, vest, become exercisable and expire as if Director had
remained a Non-Employee Director of the Corporation. Upon the death of Director,
the unvested portion of the Retainer Stock Award shall be automatically
forfeited.

6.       ADJUSTMENT TO AWARD IN CERTAIN EVENTS.

         In the event of a change in the capitalization of SYSCO due to a stock
split, stock dividend, recapitalization, merger, consolidation, combination, or
similar event, the aggregate shares subject to the plan and the terms of this
Agreement shall be adjusted to reflect such change.

                                       2
<PAGE>

7.       CHANGE IN CONTROL.

         If a Change in Control (as defined above) occurs prior to the time all
Common Stock covered by this Retainer Stock Award vests, all restrictions shall
lapse and all Common Stock granted under this Restricted Stock Award shall be
fully vested.

8.       NO COMPROMISE WITH REGULATORY AUTHORITY.

         Notwithstanding any other provision of this Agreement, Director agrees
that SYSCO shall not be obligated to deliver any shares of Common Stock or make
any cash payment, if counsel to SYSCO determines such exercise, delivery or
payment would violate any law or regulation of any governmental authority or
agreement between SYSCO and any national securities exchange upon which the
Common Stock is listed.

9.       PLAN CONTROLS.

         In the event of a conflict between the terms of this Agreement and the
plan, the Plan shall be the controlling document.

10.      END OF RESTRICTIONS; DELIVERY OF STOCK.

         If all terms and conditions of this Agreement are complied with in
full, all restrictions on the Restricted Stock referred to herein shall lapse
and the Director shall receive such stock.

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the day and year first above written.

                                        SYSCO CORPORATION

                                        By:
                                            ------------------------------------
                                            Chairman and Chief Executive Officer

                                        DIRECTOR

                                        ----------------------------------------

                                        ----------------------------------------

                                       3

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