Document:

exv10w1

 

Exhibit 10.1

SYSCO CORPORATION

AMENDED AND RESTATED 2005 NON-EMPLOYEE DIRECTORS STOCK PLAN

ARTICLE 1

General

     This Amended and Restated 2005 Non-Employee Directors Stock Plan (the “Plan”) is established
to attract, retain and compensate for service as members of the Board of Directors highly qualified
individuals who are not current employees of Sysco Corporation (the “Corporation”) and to enable
them to increase their ownership in the Corporation’s common stock. This Plan will be beneficial to
the Corporation and its stockholders since it will allow these Directors to have a greater personal
financial stake in the Corporation through the ownership of the Corporation’s common stock, in
addition to underscoring their common interest with stockholders in increasing the value of the
Corporation over the longer term. The Plan provides for the grant of Stock Options, Restricted
Stock, Restricted Stock Units, Elected Shares and Additional Shares (all as defined herein, and
collectively, “Awards”)

     Section 1.1 Eligibility. All members of the Corporation’s Board of Directors who
are not current employees of the Corporation or any of its subsidiaries (“Non-Employee Directors”)
are eligible to participate in this Plan.

     Section 1.2 Shares Available.

     (a) Number of Shares Available. There are reserved for issuance under this Plan 550,000
shares of the Corporation’s Common Stock, $1.00 par value (“Common Stock”), which may be authorized
but unissued shares, treasury shares, or shares purchased on the open market. For purposes of
applying the limitation in the preceding sentence and subject to the adjustment and replenishment
provisions included in Sections 1.2(b) and (c) below:

          (i) the maximum number of shares of Common Stock that may be issued pursuant to Stock Options
shall be 220,000;

          (ii) the maximum number of shares of Common Stock that may be issued pursuant to Restricted
Stock Awards, Restricted Stock Unit Awards, Elected Shares and Additional Shares shall be 320,000,
inclusive of all shares issued prior to November 8, 2007 as retainer stock awards; and

          (iii) the maximum number of shares of Common Stock that may be issued pursuant to dividends
or dividend equivalents with respect to shares subject to unexercised Options, Restricted Stock or
Restricted Stock Units shall be 10,000.

     (b) Recapitalization Adjustment. In the event of a reorganization, recapitalization, stock
split, stock dividend, combination of shares, merger, consolidation, rights offering, or any other
change in the corporate structure or shares of the Corporation, adjustments in the number and kind
of shares authorized by this Plan, in the number and kind of shares that may or are required to be
issued hereunder pursuant to any type of award hereunder (including without limitation the maximum
numbers set forth in Section 1.2(c) below), in the number and kind of shares covered by outstanding
stock options (“Options”) under this Plan and in the option price thereof, and in the number and
kind of shares subject to outstanding retainer stock awards granted prior to November 8, 2007,
Restricted Stock and/or Restricted Stock Units shall automatically be made if, and in the same
manner as, similar adjustments are made to awards issued under the Corporation’s incentive plans
for management of the Corporation then in effect.

     (c) Replenishment. To the extent any shares of Common Stock covered by an Option, retainer
stock award granted prior to November 8, 2007, Restricted Stock Award or Restricted Stock Unit
Award are forfeited by or are not delivered to a Non-Employee Director or his or her beneficiary
because the Option, retainer stock award, Restricted Stock or Restricted Stock Unit is forfeited or
canceled, or the shares of Common Stock are not delivered because they are used to satisfy any
applicable tax withholding obligation, such shares shall not be deemed to have been delivered for
purposes of determining the

 

 

maximum number of shares of Common Stock available for delivery with respect to the respective type
of award and with respect to all grants under the Plan.

ARTICLE 2

Option Awards

     Section 2.1 Options. Awards may be made under this Plan of Options to purchase
Common Stock. No Options granted pursuant to this Plan may be “Incentive Stock Options” under
Section 422 of the Internal Revenue Code of 1986, as amended. The grant of an Option entitles the
recipient to purchase shares of Stock at an exercise price established by the Board of Directors.

     Section 2.2 Exercise Price. The exercise price of each Option granted under this
Article 2 shall be established by the Board of Directors or shall be determined by a method
established by the Board of Directors at the time the Option is granted. The exercise price shall
not be less than 100% of the Fair Market Value of a share of Common Stock on the date of grant of
the Option. For purposes of determining the “Fair Market Value” of a share of Common Stock as of
any date, then the “Fair Market Value” as of that date shall be the last closing price of the
Common Stock on the first business day prior to that date on the New York Stock Exchange or, if the
Common Stock is not listed on the New York Stock Exchange, on any other exchange or quotation
system on which the Common Stock is listed or quoted. No Option may be “repriced,” as such term is
used in rules established by the New York Stock Exchange.

     Section 2.3 Exercise. Subject to the provisions of this Plan, an Option shall be
exercisable in accordance with such terms and conditions and during such periods as may be
established by the Board of Directors; provided, however, that no Option may be exercised more than
seven years after its grant date and no Option granted hereunder may vest in excess of 1/3 of the
number of shares subject to the Option per year for the first three years after the grant date.

     Section 2.4 Payment of Option Exercise Price. The payment of the exercise price
of an Option granted under this Article 2 shall be subject to the following:

          (a) Subject to the following provisions of this subsection 2.4, the full exercise price for
shares of Common Stock purchased upon the exercise of any Option shall be paid at the time of such
exercise (except that, in the case of an exercise arrangement approved by the Board of Directors
and described in paragraph 2.4(c), payment may be made as soon as practicable after the exercise).

          (b) The exercise price shall be payable in cash or by tendering, by either actual delivery
of shares or by attestation, shares of Common Stock acceptable to the Board of Directors that have
been held by the optionee for at least six months and valued at Fair Market Value as of the day of
exercise, or in any combination thereof, as determined by the Board of Directors.

          (c) Subject to compliance with applicable law, the Board of Directors may permit an Option
recipient to elect to pay the exercise price upon the exercise of an Option by irrevocably
authorizing a third party to sell shares of Common Stock (or a sufficient portion of the shares)
acquired upon exercise of the Option and remit to the Corporation a sufficient portion of the sale
proceeds to pay the entire exercise price and any tax withholding resulting from such exercise.

     Section 2.5 Settlement of Award. Shares of Common Stock delivered pursuant to the
exercise of an Option shall be subject to such conditions, restrictions and contingencies as the
Board of Directors may establish in the applicable Option grant agreement. The Board of Directors,
in its discretion, may impose such conditions, restrictions and contingencies with respect to
shares of Common Stock acquired pursuant to the exercise of an Option as the Board of Directors
determines to be desirable.

     Section 2.6 Nontransferability of Options. No Option granted under this Plan is
transferable other than by will or the laws of descent and distribution. During the grantee’s
lifetime, an Option may be exercised only by the grantee or the grantee’s guardian or legal
representative.

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     Section 2.7 Dividends and Dividend Equivalents. An Option, at the time of grant
or subsequent thereto, may provide the grantee with the right to receive dividend payments or
dividend equivalent payments with respect to Common Stock subject to the Option. Such payments may
either be made currently or credited to an account for the grantee, and may be settled in cash or
Common Stock as determined by the Board. Any such settlements, and any such crediting of dividends
or dividend equivalents or reinvestment in shares of Stock, may be subject to such conditions,
restrictions and contingencies as the Board shall establish.

ARTICLE 3

Election to Receive Common Stock

     Section 3.1 Eligibility. A Non-Employee Director who is otherwise eligible to
receive cash payment for services provided as a Director may elect to receive up to 50% of his or
her annual retainer fee, in 10% increments, exclusive of any fees or other amounts payable for
attendance at the meetings of the Board or for service on any committee thereof, in the form of
Common Stock (a “Stock Election”), subject to the following terms of this Article 3. The amount of
the fee which a Non-Employee Director elects to receive in Common Stock is referred to herein as
the “Elected Amount.” The Elected Amount shall be deducted ratably from the quarterly payments of
the annual retainer fee payable to such Non-Employer Director in that fiscal year in which the
Elected Amount would have been paid but for the Stock Election.

     Section 3.2 Common Stock. Any Non-Employee Director who makes a stock election
pursuant to Section 3.1 (an “Electing Director”) shall have an account created on the books of the
Corporation to which shares of Common Stock shall be credited and debited as provided in this
Article 3 (the “Stock Account”). Each Electing Director shall have credited to his or her Stock
Account on the date of each quarterly payment of the annual retainer fee (the “Quarterly Payment
Date”) the sum of (i) that number of shares of Common Stock determined by dividing his or her
Elected Amount by the Fair Market Value on such Quarterly Payment Date (such shares are referred to
as “Elected Shares”) and (ii) that number of shares of Common Stock determined by dividing 50% of
the Elected Amount by the Fair Market Value on such Quarterly Payment Date (such shares are
referred to as “Additional Shares”).

     Section 3.3 Vesting. All Elected Shares and Additional Shares shall be 100%
vested as of the date they are credited to the Electing Director’s Stock Account, but may not be
sold or transferred prior to the date they are issued. Additional Shares, however, may not be sold
or transferred for a period of two years after the date as of which they are issued and such shares
shall bear a legend setting forth this restriction (the “Restriction”). The Restriction shall
remain in effect after the date an Electing Director ceases to be a Director; provided, however,
that (i) if an Electing Director ceases to be a Director by reason of death, disability or
departure under the circumstances described in Section 5.1 (a) or (b), or as otherwise determined
by the Board of Directors, the Restriction shall lapse and be of no further force or effect on or
after the date of such death, disability, departure or determination; and (ii) the Restriction
shall lapse and be of no further force or effect on the date of a Change in Control, as such term
is defined in the Corporation’s 2004 Stock Option Plan.

     Section 3.4 Date of Issuance. The date of issuance of Common Stock issued
pursuant to this Article 3 (the “Issue Date”) shall be December 31 for any year as to which a
Non-Employee Director has made a stock election as described in Section 3.1 hereof, or if December
31 is not a business day for the Corporation’s transfer agent, on the last business day of the
Corporation’s transfer agent prior to December 31. As of the Issue Date, a certificate for the
total number of vested shares in his or her account on the Issue Date shall be issued to such
Electing Director subject to the other terms and conditions of this Plan and at that time, the
balance in each Electing Director’s Stock Account shall be debited by the number of shares issued.
Notwithstanding the foregoing, if a Non-Employee Director ceases to be a director for any reason
when there are shares accrued to such director’s Stock Account, certificates for such shares shall
be issued within 60 days of the date such Non-Employee Director ceases to be a director and the
date such shares are issued shall be the Issue Date of such shares.

     Section 3.5 Method of Election. A Non-Employee Director who wishes to make a
Stock Election must deliver to the Secretary of the Corporation a written irrevocable election
specifying the

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Elected Amount by January 31 of the calendar year to which the Stock Election relates (or at such
other time required under rules established by the Board).

ARTICLE 4

Restricted Stock and Restricted Stock Units

     Section 4.1 Grant of Restricted Stock or Restricted Stock Units. Subject to the
terms and provisions of the Plan, the Board of Directors, at any time and from time to time, may
grant shares of Restricted Stock and/or Restricted Stock Units, as such terms are defined below, to
participants in such amounts and upon such terms and conditions as the Board shall determine;
provided, however, that no grant of Restricted Stock or of any Restricted Stock Unit shall in any
event vest more than 1/3 per year for each of the first three years following the date of grant.
“Restricted Stock” means an award of Common Stock subject to forfeiture based on the passage of
time, the achievement of performance goals, and/or upon the occurrence of other events as
determined by the Board in its discretion, granted subject to the terms of this Plan. “Restricted
Stock Unit” means an award denominated in units whose value is derived from Common Stock and which
is subject to forfeiture based on the passage of time, the achievement of performance goals, and/or
upon the occurrence of other events as determined by the Board in its discretion, granted subject
to the terms of this Plan.

     Section 4.2 Restricted Stock or Restricted Stock Unit Agreement. Each Restricted
Stock and/or Restricted Stock Unit grant shall be evidenced by an Award Agreement duly executed by
the Corporation and the Non-Employer Director to whom the award is granted that shall specify the
period(s) and types of restrictions, the number of shares of Restricted Stock or the number of
Restricted Stock Units granted, and any such other provisions as the Board shall determine.

     Section 4.3 Other Restrictions.

     (a) The Board shall impose, in the Award Agreement at the time of grant or anytime
thereafter, such other conditions and/or restrictions on any shares of Restricted Stock or
Restricted Stock Units granted pursuant to this Plan as it may deem advisable including, without
limitation, a requirement that participants pay a stipulated purchase price for each share of
Restricted Stock or each Restricted Stock Unit, that specific performance goals be obtained, the
imposition of time-based restrictions on vesting following the attainment of the performance goals,
time-based restrictions, restrictions under applicable laws or under the requirements of any stock
exchange or market upon which such shares are listed or traded, or holding requirements or sale
restrictions placed on the shares by the Corporation upon vesting of such Restricted Stock or
Restricted Stock Units. Except as otherwise provided in this Article 4 or the applicable award
agreement, shares of Restricted Stock covered by each Restricted Stock award shall become freely
transferable by the participant, subject to compliance with applicable laws, after all conditions
and restrictions applicable to such shares have been satisfied or lapse.

     (b) Common Stock subject to a Restricted Stock award may not be sold, assigned, transferred,
pledged or otherwise encumbered prior to the date it is vested, and except as otherwise specified
by the Board, Restricted Stock Units may not be transferred.

     (c) Each certificate issued in respect of Common Stock pursuant to a Restricted Stock award
shall be registered in the name of the Non-Employee Director and deposited with the Corporation
until such time as all restrictions have lapsed.

     Section 4.4 Certificate Legend. In addition to any other legends placed on
certificates, each certificate representing shares of Restricted Stock granted pursuant to the Plan
may bear a legend such as the following:

     The sale or other transfer of the shares of stock represented by this certificate, whether
voluntary, involuntary, or by operation of law, is subject to certain restrictions on transfer as
set forth in the SYSCO Corporation 2005 Non-Employee Directors Stock Plan, and in the associated
Award Agreement. A copy of the Plan and such Award Agreement may be obtained from SYSCO
Corporation.

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     Section 4.5 Voting Rights. To the extent required by law, participants in whose
names shares of Restricted Stock granted hereunder shall be issued, shall be granted the right to
exercise full voting rights with respect to those shares during the period of restriction. A
participant shall have no voting rights with respect to any Restricted Stock Units granted
hereunder.

     Section 4.6 Dividends and Other Distributions. During the period of restriction,
participants holding shares of Restricted Stock or Restricted Stock Units granted hereunder may, if
the Board so determines, be credited with dividends paid with respect to the underlying shares or
dividend equivalents while they are so held in a manner determined by the Board in its sole
discretion. The Board may apply any restrictions to the dividends or dividend equivalents that the
Board deems appropriate. The Board, in its sole discretion, may determine the form of payment of
dividends or dividend equivalents, including cash, unrestricted Common Stock, Restricted Stock, or
Restricted Stock Units.

     Section 4.7 Payment in Consideration of Restricted Stock Units. When and if
Restricted Stock Units become payable, a participant having received the grant of such units shall
be entitled to receive payment from the Corporation in cash, shares of Common Stock of equivalent
value (based on the Fair Market Value thereof), in some combination thereof, or in any other form
determined by the Board in its sole discretion. The Board’s determination regarding the form of
payout shall be set forth or reserved for later determination in the Award Agreement pertaining to
the grant of the Restricted Stock Unit.

ARTICLE 5

Miscellaneous

     Section 5.1 Cessation of Service. Except as set forth below and unless otherwise
determined by the Board, upon cessation of service as a Non-Employee Director (for reasons other
than death), all Options, whether or not exercisable at the date of cessation of service, and all
unvested retainer stock awards granted prior to November 8, 2007, Restricted Stock and Restricted
Stock Units shall be forfeited by the grantee; provided, however, that, unless otherwise determined
by the Board, if (a) any Non-Employee Director serves out his/her term but does not stand for
re-election at the end thereof or (b) any Non-Employee Director shall retire from service on the
Board (for reasons other than death) prior to the expiration of his or her term and on or after the
date he or she attains age 71, such grantee’s Options, retainer stock awards granted prior to
November 8, 2007, Restricted Stock and Restricted Stock Units shall remain in effect, vest, become
exercisable and expire as if the grantee had remained a Non-Employee Director of the Corporation.
The status of Elected Shares and Additional Shares shall be governed by Section 3.3.

     Section 5.2 Death. Upon the death of a Non-Employee Director, all unvested
Options held by him or her will vest immediately and may be exercised by his or her estate, or by
the person to whom such right devolves from the Non-Employee Director by reason of his or her
death, at any time within three years after the date of the Non-Employee Director’s death, but in
no event later than the original termination date of the Option. In no event may an Option be
exercised after three years following the holder’s death. In addition, all unvested retainer stock
awards granted prior to November 8, 2007, Restricted Stock and Restricted Stock Units shall vest
and all restrictions with respect to Additional Shares shall lapse.

     Section 5.3 Administration. This Plan shall be administered by the Board of
Directors of the Corporation. This Plan may be terminated or amended by the Board of Directors as
they deem advisable. The Board may delegate its authority hereunder to the Non-Employee Directors,
or to any two or more thereof.

     Section 5.4 Amendments. No amendment may revoke or alter in a manner unfavorable
to the grantees any Options, retainer stock awards granted prior to November 8, 2007, Restricted
Stock, Restricted Stock Units or Elected Shares then outstanding, and no amendment, unless approved
by Corporation stockholders, can increase the number of shares authorized for issuance hereunder,
in total or pursuant to any award type, modify the method by which the Option exercise price is
determined or allow

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for the “repricing” of any Option issued hereunder, as such term is used in rules established by
the New York Stock Exchange.

     Section 5.5 Term. No Option, Restricted Stock, Restricted Stock Unit, Elected
Shares or Additional Shares may be issued under this Plan after November 11, 2010, but Options
granted prior to that date shall continue to become exercisable and may be exercised according to
their terms. Restricted Stock and Restricted Stock Units granted prior to November 11, 2010 shall
continue to vest in accordance with their terms, dividend equivalents awarded prior to November 11,
2010 may be paid in accordance with the terms thereof, and Additional Shares credited prior to
November 11, 2010 shall continue to be subject to the provisions hereof.

     Section 5.6 No Other Rights. Except as provided in this Plan, no Non-Employee
Director shall have any claim or right to be granted or issued an Option, Restricted Stock Award,
Restricted Stock Unit, Elected Shares or Additional Shares under this Plan. Neither this Plan nor
any actions hereunder shall be construed as giving any Director any right to be retained in the
service of the Corporation.

     Section 5.7 Prior Plan. This Plan superseded the Corporation’s prior
Non-Employee Directors Stock Plan (the “Prior Directors Plan”). Options granted under the Prior
Directors Plan shall continue to become exercisable and may be exercised according to their terms,
retainer stock awards granted under the Prior Directors Plan shall continue to vest in accordance
with their terms and Additional Shares (as defined in the Prior Directors Plan) granted under the
Prior Directors Plan shall continue to be subject to the provisions thereof.

6exv10w2

 

     Exhibit 10.2

     EXECUTION COPY

FIRST AMENDED AND RESTATED

SYSCO CORPORATION 2005

BOARD OF DIRECTORS DEFERRED COMPENSATION PLAN

			
	 	 	 
	 
	 	Approved November 2007

Effective January 1, 2005

 

 

FIRST AMENDED AND RESTATED

SYSCO CORPORATION 2005

BOARD OF DIRECTORS DEFERRED COMPENSATION PLAN

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	ARTICLE I
	 	DEFINITIONS	 	 	2	 
	ARTICLE II
	 	ELIGIBILITY	 	 	7	 
	ARTICLE III
	 	DEFERRAL	 	 	8	 
	3.1
	 	Election to Defer	 	 	8	 
	3.2
	 	Failure to Elect	 	 	8	 
	3.3
	 	Revocation or Change of Election	 	 	8	 
	3.4
	 	Timing and Form of Election	 	 	8	 
	ARTICLE IV
	 	ACCOUNT	 	 	9	 
	4.1
	 	Establishing a Participant’s Account	 	 	9	 
	4.2
	 	Credit of the Participant’s Deferral	 	 	9	 
	4.3
	 	Deemed Investments	 	 	9	 
	4.4
	 	Procedure to Credit/Debit Interest, Earnings, or Losses Upon an Event of Distribution	 	 	10	 
	ARTICLE V
	 	VESTING	 	 	13	 
	ARTICLE VI
	 	DISTRIBUTIONS	 	 	14	 
	6.1
	 	Form and Time of Distribution	 	 	14	 
	6.2
	 	Death/Beneficiary Designation	 	 	15	 
	6.3
	 	Termination Distributions	 	 	16	 
	6.4
	 	Hardship Withdrawals	 	 	16	 
	6.5
	 	Payments upon Income Inclusion Under Section 409A	 	 	17	 
	6.6
	 	Expenses Incurred in Enforcing the Plan	 	 	17	 
	6.7
	 	Responsibility for Distributions and Withholding of Taxes	 	 	17	 
	ARTICLE VII
	 	ADMINISTRATION	 	 	18	 
	[renumber]
	 	 	 	 	 	 
	7.3
	 	Powers of the Board	 	 	18	 
	7.4
	 	Board Discretion	 	 	19	 
	7.5
	 	Reimbursement of Expenses	 	 	19	 
	7.6
	 	Indemnification	 	 	19	 
	ARTICLE VIII
	 	AMENDMENT AND/OR TERMINATION	 	 	20	 
	8.1
	 	Amendment or Termination of the Plan	 	 	20	 
	8.2
	 	No Retroactive Effect on Account	 	 	20	 

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TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	8.3
	 	Effect of Termination	 	 	20	 
	ARTICLE IX
	 	FUNDING	 	 	22	 
	9.1
	 	Payments Under This Plan Are the Obligation of SYSCO	 	 	22	 
	9.2
	 	Plan Obligations May Be Funded Through Rabbi Trust	 	 	22	 
	9.3
	 	Reversion of Excess Assets	 	 	22	 
	9.4
	 	Participants Must Rely Only on General Credit of SYSCO	 	 	22	 
	ARTICLE X
	 	MISCELLANEOUS	 	 	24	 
	10.1
	 	Limitation of Rights	 	 	24	 
	10.2
	 	Distributions to Incompetents or Minors	 	 	24	 
	10.3
	 	Nonalienation of Benefits	 	 	24	 
	10.4
	 	Reliance Upon Information	 	 	25	 
	10.5
	 	Severability	 	 	25	 
	10.6
	 	Notice	 	 	25	 
	10.7
	 	Gender and Number	 	 	25	 
	10.8
	 	Governing Law	 	 	25	 
	10.9
	 	Effective Date	 	 	25	 
	10.10
	 	Compliance with Section 409A	 	 	25	 

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FIRST AMENDED AND RESTATED

SYSCO CORPORATION 2005

BOARD OF DIRECTORS DEFERRED COMPENSATION PLAN

     WHEREAS, the American Jobs Creation Act of 2004 added Section 409A to the Internal Revenue
Code of 1986, as amended (the “Code”), and Section 409A of the Code imposes certain
restrictions on compensation deferred on and after January 1, 2005;

     WHEREAS, SYSCO Corporation sponsors and maintains the SYSCO Corporation 2005 Board of
Directors Deferred Compensation Plan effective as of January 1, 2005, which is intended to comply
with Section 409A of the Code (the “Current Plan”);

     WHEREAS, on April 17, 2007, the U.S. Department of Treasury promulgated final regulations
under Section 409A of the Code; and on October 22, 2007, the Internal Revenue Service (the “IRS”)
issued Notice 2007-86, extending the transition relief under the final 409A regulations by allowing
Participants until December 31, 2008 (previously December 31, 2007) to change certain previous
distribution elections;

     WHEREAS, Section 8.1 of the Current Plan authorizes the employee members of the Board of
Directors of SYSCO Corporation to amend the Current Plan; and

     WHEREAS, the sole employee member of the Board of Directors of SYSCO Corporation, acting upon
the recommendation of the Corporate Governance and Nominating Committee of the Board, has
determined that it is in the best interests of SYSCO Corporation and its non-employee directors to
amend and restate the Current Plan to: (i) take advantage of extended transitional relief provided
under the final 409A regulations as supplemented by IRS Notice 2007-86, by allowing Participants
until December 31, 2008, to change certain previous distribution elections; (ii) clarify, pursuant
to the final 409A regulations, the circumstances that constitute an “Unforeseeable Emergency” for
purposes of hardship distributions; (iii) provide that on a going forward basis, the Board shall
administer the Current Plan; (iv) provide that the Board of Directors (as opposed to only employee
directors) has the authority to amend and terminate the Current Plan; and (v) make other various
changes to comply with the final 409A regulations.

     NOW, THEREFORE, SYSCO Corporation hereby adopts the First Amended and Restated SYSCO
Corporation 2005 Board of Directors Deferred Compensation Plan, effective January 1, 2005 (the
“Plan”), as follows:

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ARTICLE I

DEFINITIONS

     Account. “Account” means a Participant’s Account in the Deferred Compensation Ledger
maintained by SYSCO which reflects the entire interest of the Participant in the Plan. Each
Account shall reflect the Participant’s compensation deferred under this Plan, as adjusted herein
for deemed Investment earnings and losses and credited interest.

     Beneficiary. “Beneficiary” means a person or entity designated by the Participant
under the terms of this Plan to receive any amounts distributed under the Plan upon the death of
the Participant.

     Board of Directors. “Board of Directors” or “Board” means the Board of Directors of
SYSCO.

     Business Day. “Business Day” means any day on which the New York Stock Exchange is
open for trading.

     Change of Control. “Change of Control” means the occurrence of one or more of the
following events:

          (a) The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3)
or 14(d)(2) of the Securities Act (a “Person”) of beneficial ownership (within the meaning
of Rule 13d-3 promulgated under the Securities Act) of 20% or more of either (i) the
then-outstanding shares of SYSCO common stock (the “Outstanding SYSCO Common Stock”) or
(ii) the combined voting power of the then-outstanding voting securities of SYSCO entitled to vote
generally in the election of directors (the “Outstanding SYSCO Voting Securities”);
provided, however, that, for purposes of this definition, the following acquisitions shall not
constitute a Change of Control: (1) any acquisition directly from SYSCO, (2) any acquisition by
SYSCO, (3) any acquisition by any employee benefit plan (or related trust) sponsored or maintained
by SYSCO or any Affiliate, or (4) any acquisition by any corporation; pursuant to a transaction
that complies with subparagraphs (c)(i), (c)(ii) and (c)(iii) of this definition;

          (b) Individuals who, as of November 10, 2005, constitute the Board of Directors (the
“Incumbent Board”) cease for any reason to constitute at least a majority of the Board of
Directors; provided, however, that any individual becoming a director subsequent to November 10,
2005, whose election, or nomination for election by SYSCO’s stockholders, was approved by a vote of
at least a majority of the directors then comprising the Incumbent Board shall be considered as
though such individual were a member of the Incumbent Board, but excluding, for this purpose, any
such individual whose initial assumption of office occurs as a result of an actual or threatened
election contest with respect to the election or removal of directors or other actual or threatened
solicitation of proxies or consents by or on behalf of a Person other than the Board of Directors;

          (c) Consummation of a reorganization, merger, statutory share exchange or consolidation or
similar corporate transaction involving SYSCO or any of its Affiliates, a sale or other disposition
of all or substantially all of the assets of SYSCO, or the acquisition of assets or stock of
another entity by SYSCO or any of

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its Affiliates (each, a “Business Combination”), in each case unless, following such
Business Combination, (i) all or substantially all of the individuals and entities that were the
beneficial owners of the Outstanding SYSCO Common Stock and the Outstanding SYSCO Voting Securities
immediately prior to such Business Combination beneficially own, directly or indirectly, more than
60% of the then-outstanding shares of common stock and the combined voting power of the
then-outstanding voting securities entitled to vote generally in the election of directors, as the
case may be, of the corporation resulting from such Business Combination (including, without
limitation, a corporation that, as a result of such transaction, owns SYSCO or all or substantially
all of SYSCO’s assets either directly or through one or more subsidiaries) in substantially the
same proportions as their ownership immediately prior to such Business Combination of the
Outstanding SYSCO Common Stock and the Outstanding SYSCO Voting Securities, as the case may be,
(ii) no Person (excluding any corporation resulting from such Business Combination or any employee
benefit plan (or related trust) of SYSCO or such corporation resulting from such Business
Combination) beneficially owns, directly or indirectly, 20% or more of, respectively, the
then-outstanding shares of common stock of the corporation resulting from such Business Combination
or the combined voting power of the then-outstanding voting securities of such corporation, except
to the extent that such ownership existed prior to the Business Combination, and (iii) at least a
majority of the members of the board of directors of the corporation resulting from such Business
Combination were members of the Incumbent Board at the time of the execution of the initial
agreement or of the action of the Board of Directors providing for such Business Combination; or

          (d) Approval by the stockholders of SYSCO of a complete liquidation or dissolution of SYSCO.

     Code. “Code” means the Internal Revenue Code of 1986, as amended from time to time.

     Default Distribution Option. “Default Distribution Option” shall have the meaning set
forth in Section 6.1(c).

     Default Investment. “Default Investment” shall mean a hypothetical investment with an
investment return equal to the monthly average of the Moody’s Average Corporate Bond Yield for the
calendar year ending prior to the beginning of the Plan Year for which such rate shall be
effective, plus one (1) percent; provided, however, for calendar years commencing on or after
January 1, 2006, “Default Investment” shall mean a hypothetical investment with a per annum
investment return equal to the sum of (x) the monthly average of the Moody’s Average Corporate Bond
Yield (determined by dividing the sum of the Corporate Bond Yield Averages for each month, as
published in Moody’s Bond Survey, by the number of months in the applicable calculation period) for
the period described in (i) or (ii) that produces the higher rate: (i) the six-month period ending
on October 31st of the calendar year prior to the calendar year for which such rate
shall be effective, or (ii) the twelve-month period ending on October 31st of the
calendar year prior to the calendar year for which such rate shall be effective, plus (y) 1%, or
such other Investment designated by the Board as the “Default Investment” on Exhibit “A”
attached hereto. The investment return of the Default Investment shall be re-determined annually as
of November 1st of the calendar year prior to the calendar year for which such rate
shall be effective. The investment return, once established, shall be effective as of January

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1st of the calendar year following the calendar year in which such investment
return is calculated and shall remain in effect for the entire calendar year.

     Deferred Compensation Ledger. “Deferred Compensation Ledger” means the ledger
maintained by SYSCO for each Participant which reflects the amount of the Participant’s
compensation deferred under this Plan, the credits and debits for deemed Investment earnings and
losses pursuant to Section 4.3, interest credited pursuant to Section 4.4, and cash distributed to
the Participant or the Participant’s Beneficiaries pursuant to Article VI.

     Eligibility Date. “Eligibility Date” means the date as of which a member of the Board
of Directors is first eligible to participate in the Plan. A member of the Board of Directors
shall be notified of his Eligibility Date by the Board or its designee.

     Fair Market Value. “Fair Market Value” means, with respect to any Investment, the
closing price on the date of reference, or if there were no sales on such date, then the closing
price on the nearest preceding day on which there were such sales, and in the case of an unlisted
security, the mean between the bid and asked prices on the date of reference, or if no such prices
are available for such date, then the mean between the bid and asked prices on the nearest
preceding day for which such prices are available. With respect to any Investment which reports
“net asset values” or similar measures of the value of an ownership interest in the Investment,
Fair Market Value shall mean such closing net asset value on the date of reference, or if no net
asset value was reported on such date, then the net asset value on the nearest preceding day on
which such net asset value was reported. For any Investment not described in the preceding
sentences, Fair Market Value shall mean the value of the Investment as determined by the Board in
its reasonable judgment on a consistent basis, based upon such available and relevant information
as the Board determines to be appropriate.

     Fixed Interest Option. “Fixed Interest Option” shall have the meaning set forth in
Section 4.3(d).

     Installment Distribution Option. “Installment Distribution Option” shall have the
meaning set forth in Section 6.1(b)(ii).

     Investment. “Investment” means the options set forth in Exhibit “A” attached
hereto, as the same may be amended from time to time by the Board in its sole and absolute
discretion.

     Lump Sum Distribution Option. “Lump Sum Distribution Option” shall have the meaning
set forth in Section 6.1(b)(i).

     Participant. “Participant” means a member of the Board of Directors of SYSCO who is
not otherwise employed by SYSCO or a Subsidiary, and any former member the Board of Directors of
SYSCO who is eligible to participate in the Plan or who has an Account in the Deferred Compensation
Ledger.

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     Plan. “Plan” means this First Amended and Restated SYSCO Corporation 2005 Board of
Directors Deferred Compensation Plan, as set forth in this document and amended from time to time.

     Plan Year. “Plan Year” means the calendar year. The Plan’s first Plan Year shall be
the 2005 calendar year.

     Section 409A. “Section 409A” means Section 409A of the Code. References herein to
“Section 409A” shall also include any regulatory and other interpretive guidance promulgated under
Section 409A of the Code.

     Securities Act. “Securities Act” means the Securities Exchange Act of 1934, as
amended from time to time.

     Subsequent Elections. “Subsequent Elections” shall have the meaning set forth in
Section 6.1(a).

     Subsidiary. “Subsidiary” means (a) any corporation which is a member of a “controlled
group of corporations” which includes SYSCO, as defined in Code Section 414(b), (b) any trade or
business under “common control” with SYSCO, as defined in Code Section 414(c), (c) any organization
which is a member of an “affiliated service group” which includes SYSCO, as defined in Code Section
414(m), (d) any other entity required to be aggregated with SYSCO pursuant to Code Section 414(o),
and (e) any other organization or employment location designated as a “Subsidiary” by resolution of
the Board of Directors.

     SYSCO. “SYSCO” means SYSCO Corporation.

     Termination. “Termination” means a Participant’s retirement, resignation, or removal
from the Board of Directors for any reason.

     Termination Investment Election. “Termination Investment Election” shall have the
meaning set forth in Section 4.3(d).

     Treasury Regulations. “Treasury Regulations” means the Federal Income Tax
Regulations, and, to the extent applicable, any Temporary or Proposed Regulations promulgated under
the Code, as such regulations may be amended from time to time (including the corresponding
provisions of succeeding regulations).

     Trust. “Trust” means any trust created by separate agreement as permitted by Section
9.2 of this Plan.

     Unforeseeable Emergency. “Unforeseeable Emergency” shall have the meaning set forth
in Section 6.4.

     Variable Investment Option. “Variable Investment Option” shall have the meaning set
forth in Section 4.3(d).

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ARTICLE II

ELIGIBILITY

     All members of the Board of Directors who are not otherwise employed by SYSCO or a Subsidiary
shall be eligible to participate in this Plan.

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ARTICLE III

DEFERRAL

     3.1 Election to Defer. Each Participant may elect to defer under this Plan a
percentage of his Director’s fees in any 10% increment which is not less than 20% nor more than
100% of his Director’s fees. Generally, the election to defer is effective only if received by
SYSCO in proper form prior to the beginning of the Plan Year or Years for which it is to be
applicable; once a Plan Year has commenced, the election to defer shall be irrevocable for that
Plan Year. Notwithstanding the foregoing provisions of this Section 3.1 to the contrary, with
respect to the first Plan Year during which a Participant becomes eligible to participate in the
Plan, the Participant’s election to defer may be made, with respect to Director’s fees for services
to be performed subsequent to the election, within 30 days after the Participant’s Eligibility
Date.

     3.2 Failure to Elect. If the Participant fails to provide his election to SYSCO in
proper form prior to (i) with respect to the initial Plan Year of a Participant’s Plan eligibility,
the 31st day following the Participant’s Eligibility Date, and (ii) with respect to Plan
Years after a Participant’s initial year of Plan eligibility, the beginning of a Plan Year for
which no prior election is effective, the Participant shall be deemed to have elected not to defer
any portion of his Director’s fees for that Plan Year.

     3.3 Revocation or Change of Election. Each Participant shall have the right to revoke
or change any prior continuing election to defer a portion or all of his Director’s fees; provided,
however, that any such revocation or change of election shall be effective only on a prospective
basis beginning with Director’s fees earned during the Plan Year next following the Plan Year
during which SYSCO receives the revocation or change in proper form. Notwithstanding anything to
the contrary contained herein, if a Participant receives a hardship withdrawal pursuant to Section
6.4, the Participant may elect to cancel his deferral election in effect for such calendar year.
Such cancellation election shall be made in writing by the Participant in such form as the Board
determines from time to time, and any subsequent deferral elections shall be subject to the
requirements of the first sentence of Section 3.1.

     3.4 Timing and Form of Election. The Board shall have the right to make such rules
and regulations regarding the election, revocation, or change of election to defer as are not
inconsistent with the requirements of Sections 3.1, 3.2, and 3.3 or Section 409A, including
establishing election periods, forms for elections, and all other pertinent matters.

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ARTICLE IV

ACCOUNT

     4.1 Establishing a Participant’s Account. SYSCO shall establish an Account for each
Participant in a special Deferred Compensation Ledger which shall be maintained by SYSCO. Each
Account shall reflect the entire interest of the Participant in the Plan.

     4.2 Credit of the Participant’s Deferral. SYSCO shall credit the amount of a
Participant’s deferral to the Participant’s Account in the Deferred Compensation Ledger on the same
day that such amount would have been paid to the Participant but for the deferral which was
elected.

     4.3 Deemed Investments. The credit balance of the Participant’s Account in the
Deferred Compensation Ledger shall be deemed invested and reinvested from time to time in such
Investments as shall be designated by the Participant in accordance with the following:

     (a) Upon commencement of participation in the Plan, each Participant shall make
a designation of the Investments in which his Account will be deemed invested. The
Investments designated by a Participant shall be deemed to have been purchased on the
date on which the Participant’s deferrals are credited to the Participant’s Account,
or if such date is not a Business Day, on the first Business Day following such date.
If a Participant has not made a designation of Investments in which his Account will
be deemed invested, the credit balance of the Participant’s Account shall be deemed
to be invested in the Default Investment.

     (b) At such times and under such procedures as the Board shall designate, each
Participant shall have the right to change (i) the existing Investments in which the
Participant’s Account is deemed invested by treating a portion of the existing
Investments in the Participant’s Account as having been sold and the new Investments
purchased; and (ii) the Investments which are deemed to be purchased with future
credits to the Participant’s Account.

     (c) In the case of any deemed purchase of an Investment, the Participant’s
Account shall be decreased by a dollar amount equal to the number of units of such
Investment treated as purchased multiplied by the per unit net asset value of such
Investment as of such date or, if such date is not a Business Day, on the first
Business Day following such date, and shall be increased by the number of units of
such Investment treated as purchased. In the case of any deemed sale of an
Investment, the Participant’s Account shall be decreased by the number of units of
Investment treated as sold, and shall be increased by a dollar amount equal to the
number of units of such Investment treated as sold multiplied by the per unit net
asset value of such Investment as of such date or, if such date is not a Business
Day, on the first Business Day following such date.

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     (d) If a Participant’s Termination occurs on or after January 1, 2006 and the
Participant has elected to receive any portion of the Participant’s distribution
under Section 6.3 (upon Termination) pursuant to the Installment Distribution Option,
with respect such portion, the Participant may elect (the “Termination Investment
Election”) either (i) to have interest credited to the declining balance of such
portion of the Participant’s Account at a fixed rate determined pursuant to Section
4.4(b)(ii) (the “Fixed Interest Option), or (ii) to have the Participant’s
designation of deemed Investments (which deemed Investments may continue to be
changed pursuant to Section 4.3(b)) remain in effect throughout the period of
distribution (the “Variable Investment Option”); provided, however, that if
the Participant dies during the period of distribution, such Participant’s
designation of deemed Investments shall be terminated and such Participant’s Account
shall be deemed invested in the Default Investment. A Participant shall make his or
her Retirement Investment Election at such time and in such form as determined by the
Board. If SYSCO does not receive a Participant’s Retirement Investment Election in
the period prescribed by the Board, the Participant shall be deemed to have elected
the Fixed Interest Option. Once a Participant has made a Retirement Investment
Election (or is deemed to have made a Retirement Investment Election) such election
is irrevocable. Following the Participant’s Termination, interest or deemed
Investment earnings or losses, as the case may be, shall be credited or debited to
the Participant’s Account in accordance with Section 4.4.

     (e) In no event shall SYSCO be under any obligation, as a result of any
designation of Investments made by Participants, to acquire any Investment assets, it
being intended that the designation of any Investment shall only affect the
determination of amounts ultimately paid to a Participant.

     (f) In determining the amounts of all debits and credits to the Participant’s
Account, the Board shall exercise its reasonable best judgment, and all such
determinations (in the absence of bad faith) shall be binding upon all Participants
and their Beneficiaries. If an error is discovered in the Participant’s Account, the
Board, in its sole and absolute discretion, shall cause appropriate, equitable
adjustments to be made as soon as administratively practicable following the
discovery of such error or omission.

     4.4 Procedure to Credit/Debit Interest, Earnings, or Losses Upon an Event of
Distribution.

     (a) Distributions Upon Termination under the Variable Investment Option.
If a Participant is entitled to receive a distribution pursuant to Section 6.3 (upon
Termination) and elects the Variable Investment Option under Section 4.3(d)(ii), the
declining balance of the portion of the Participant’s Account to which this Section
4.4(a) applies shall continue to be credited or debited with Investment earnings or
losses (including interest credited at the investment return of the Default
Investment, if that Investment option is selected) for the period beginning on the day

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following the day on which the event giving rise to the distribution occurs and
continuing until the final installment distribution is paid. The amount of deemed
Investment earnings or losses credited or debited to the Participant’s Account shall
be determined by the Board in accordance with Section 4.3(f)

     (b) Distributions Upon Death, or Termination. If a Participant or a
Participant’s Beneficiaries are entitled to receive a distribution pursuant to
Section 6.2 (upon death), or Section 6.3 (upon Termination) unless the Participant
elected the Variable Investment Option under Section 4.3(d)(ii), interest or deemed
Investment earnings or losses shall be credited or debited to the portion of the
Participant’s Account subject to this Section 4.4(b) in accordance with this Section
4.4(b).

               (i) Crediting/Debiting of Interest or Deemed Investment Earnings or Losses Prior to
Commencement of Distributions. The Participant’s Account shall continue to be credited
or debited with Investment earnings or losses until, (A) for events giving rise to a
distribution that occur before January 1, 2006, the date of the event giving rise to the
distribution, or (B) for events giving rise to a distribution that occur on or after January
1, 2006, the later to occur of (x) the date of the event giving rise to the distribution; or
(y) the last day of the month preceding the month in which distributions will commence (the
“Conversion Date”) at which time the deemed Investments in the Participant’s Account
shall be treated as sold and credited with a dollar value in accordance with Section 4.3(c).
After such date, there shall be no additional credits or debits to the Participant’s Account
under this Plan for deemed Investment earnings or losses. Notwithstanding the foregoing, the
Participant’s Account shall be credited with interest, at the rate of the Default
Investment, for the period beginning on the Conversion Date and ending on the day
immediately before the date on which distribution payments commence.

               (ii) Crediting of Interest or Deemed Investment Earnings After Commencement of
Installment Distributions. With respect to distributions subject to this Section
4.4(b), if any portion of a Participant’s Account is to be paid pursuant to the Installment
Distribution Option, interest shall be credited to the declining balance of the portion of
the Participant’s Account subject to this Section 4.4(b)(ii) beginning on the day on which
distributions commence and continuing until the final installment distribution is paid. The
interest crediting rate for purposes of this Section 4.4(b)(ii) shall be the investment
return of the Default Investment for the last calendar year ending prior to the event giving
rise to the distribution; provided however, that for events occurring on or after January 1,
2006 that give rise to a distribution, the interest crediting rate hereunder shall be the
per annum interest rate equal to the sum of (x) the monthly average of the Moody’s Average
Corporate Bond Yield (determined by dividing the sum of the Corporate Bond Yield Averages
for each month, as published in Moody’s Bond Survey, by the number of months in the
calculation period) for the period described in (i) or (ii) that produces the higher rate:
(i) the six-month period ending on the last day of the month that is two months prior to the
month during

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which distributions are to commence, or (ii) the twelve-month period ending on the last
day of the month that is two months prior to the month during which distributions are to
commence, plus (y) 1%.

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ARTICLE V

VESTING

     The amount credited to a Participant’s Account attributable to deferrals of Director’s fees,
adjusted for interest and deemed Investment earnings and losses pursuant to Sections 4.3 and 4.4,
shall be 100% vested at all times.

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ARTICLE VI

DISTRIBUTIONS

     6.1 Form and Time of Distribution.

     (a) Election, Revocation, or Change of Election of the Form of
Distribution. Each Participant shall have the right to elect, to revoke, or to
change any prior election of the form of distribution at the time and under the rules
established by the Board, which rules shall include the provisions of this Article
VI. A Participant may elect different forms of distribution, as specified in Section
6.1(b), with respect to the distribution options described in Sections 6.2 (death)
and 6.3 (Termination). The initial election of form of distribution with respect to
a particular distribution event, if received by SYSCO in proper form prior to or
concurrent with the time a Participant first makes an election to defer Director’s
fees under this Plan, shall become effective upon receipt, and shall become
irrevocable at the time a Participant first makes an election to defer Director’s
fees under this Plan. Any election of form of distribution or revocations or changes
of election of form of distribution with respect to a distribution event that a
Participant makes after he first makes an election to defer Director’s fees under
this Plan (such elections, revocations, and changes are referred to collectively
herein as “Subsequent Elections”) shall be effective only if the Subsequent
Election is received by SYSCO in proper form at least one (1) year prior to the
occurrence of the event giving rise to the distribution to which such Subsequent
election applies. During the one-year period after a Subsequent Election is received
by SYSCO, the Participant’s last effective election, revocation, or change shall
remain in force with respect to such distribution event. In addition, with respect
to distributions resulting from the Participant’s Termination, the first payment
pursuant to such Subsequent Election may not be made within the five (5) year period
commencing on the date such payment would have been made or commenced under the last
effective election, revocation, or change made by the Participant. Notwithstanding
the foregoing provisions of this Section 6.1(a), at such time as the Board shall
determine, but no later than December 31, 2007, a Participant may make a Subsequent
Election to change the form of distribution of a Participant’s Account, provided that
a Subsequent Election made during calendar year 2007 may not (i) apply to any amount
that would otherwise be payable during calendar year 2007, and (ii) cause an amount
that is otherwise payable after calendar year 2007 to be paid in calendar year 2007;
and provided further, that a Subsequent Election made during calendar year 2008 may
not: (A) apply to any amount that would otherwise be payable during calendar year
2008, (B) cause an amount that is otherwise payable after calendar year 2008 to be
paid in calendar year 2008. Notwithstanding the above, a Subsequent Election shall
not apply to any distribution that is otherwise payable within the six-month period
following the date of such Subsequent Election.

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     (b) Form of Distribution Options Available. The distribution options
that may be selected by Participants are as follows:

               (i) a lump-sum payment (the “Lump-Sum Distribution Option”) to the Participant
or the Participant’s Beneficiaries of the Participant’s Account in the Deferred Compensation
Ledger;

               (ii) equal quarterly or annual (as elected by the Participant) installment payments to
the Participant or the Participant’s Beneficiaries of principal and interest for a period of
up to 20 years (as elected by the Participant) (the “Installment Distribution
Option”); provided, however, if a Participant is entitled to receive a distribution
pursuant to Section 6.3 (upon Termination) and elects the Variable Investment Option under
Section 4.3(d)(ii), each installment payment amount during the period of distribution (as
selected by the Participant) shall be determined as the result of a calculation, to be
performed as soon as administratively practicable before the date on which the installment
payment is to be made, where (A) is divided by (B); and

     (A) equals the remaining value of the Participant’s Account in the
Deferred Compensation Ledger as of the date of such calculation; and

     (B) equals the remaining number of installment payments.

               (iii) a combination of the Lump-Sum Distribution Option and the Installment
Distribution Option, whereby a portion of the Participant’s Account in the Deferred
Compensation Ledger is distributed in part pursuant to the Lump-Sum Distribution Option, and
the balance of the Account is distributed pursuant to the Installment Distribution Option.

     (c) Default Distribution Option. If a Participant does not have an
effective election as to form of distribution on file with SYSCO at the time
distributions to such Participant are to commence, the Participant shall be
conclusively deemed to have elected to receive the balance of the Participant’s
Account pursuant to the Installment Distribution Option annually over a period of ten
(10) years (the “Default Distribution Option”).

     (d) Payment of Amounts less than $30,000. Notwithstanding any other
provision of this Plan, if a Participant’s account balance is less than $30,000 on
the date installment distributions to such Participant hereunder would otherwise
commence, the distribution shall be made in one lump sum.

     (e) Commencement of Distributions. Distributions pursuant to this
Section 6.1 shall commence as soon as administratively feasible after the occurrence
of the event giving rise to the distribution, but not later than 90 days after the
event giving rise to the distribution; provided, that, in the case of the death of
the Participant, distributions shall not commence within the 30 day

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period following the Participant’s death, provided further, that, in the case of
a Participant who has made a Subsequent Election, distributions shall not commence
earlier than the time prescribed by Section 6.1(a).

     6.2 Death/Beneficiary Designation. Upon the death of a Participant, the Participant’s
Beneficiary or Beneficiaries shall receive, at the time and in the manner provided in Section 6.1,
the balance then credited to the Participant’s Account in the Deferred Compensation Ledger. Each
Participant, at the time of making his initial deferral election, must file with SYSCO a
designation of one or more Beneficiaries to whom distributions otherwise due the Participant shall
be made in the event of his death prior to the complete distribution of the amount credited to his
Account in the Deferred Compensation Ledger. The designation shall be effective upon receipt by
SYSCO of a properly executed form which the Board has approved for that purpose. The Participant
may from time to time revoke or change any designation of Beneficiary by filing another approved
Beneficiary designation form with SYSCO. If there is no valid designation of Beneficiary on file
with SYSCO at the time of the Participant’s death, or if all of the Beneficiaries designated in the
last Beneficiary designation have predeceased the Participant or, in the case of entities,
otherwise ceased to exist, the Beneficiary shall be the Participant’s spouse, if the spouse
survives the Participant, or otherwise the Participant’s estate. A Beneficiary who is an
individual shall be deemed to have predeceased the Participant if the Beneficiary dies within 30
days after the date of the Participant’s death. If any Beneficiary survives the Participant but
dies or, in the case of an entity, otherwise ceases to exist before receiving all amounts due the
Beneficiary from the Participant’s Account, the balance of the amount which would have been paid to
that Beneficiary shall, unless the Participant’s designation provides otherwise, be distributed to
the individual deceased Beneficiary’s estate or, in the case of a Beneficiary which is an entity,
to the Participant’s spouse, if the spouse survives the Participant, or otherwise to the
Participant’s estate. Any Beneficiary designation which designates any person or entity other than
the Participant’s spouse must be consented to in writing by the Participant’s spouse in a form
acceptable to the Board in order to be effective.

     6.3 Termination Distributions . Upon the Participant’s Termination, the Participant
shall receive, at the time and in the manner provided in Section 6.1, the amount credited to the
Participant’s Account in the Deferred Compensation Ledger.

     6.4 Hardship Withdrawals. Any Participant may request a hardship withdrawal to
satisfy an “Unforeseeable Emergency.” No hardship withdrawal can exceed the lesser of the amount
credited to the Participant’s Account or the amount reasonably needed to satisfy the Unforeseeable
Emergency. Whether an Unforeseeable Emergency exists and the amount reasonably needed to satisfy
such emergency shall be determined by the Board based upon the evidence presented by the
Participant and the rules established in this Section 6.4. If a hardship withdrawal is approved by
the Board, it shall be paid within 10 days of the Board’s determination. For purposes of this
Plan, an Unforeseeable Emergency means: (a) a severe financial hardship to the Participant
resulting from an illness or accident of the Participant or of a dependent (as defined in Section
152(a) of the Code) of the Participant, (b) the loss of the Participant’s property due to casualty,
or (c) another similar extraordinary and

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unforeseeable circumstance arising as a result of events beyond the control of the
Participant. The circumstances that constitute a hardship shall depend upon the facts of each
case, but, in any case, amounts distributed with respect to an Unforeseeable Emergency shall not
exceed the amount necessary to satisfy such emergency plus amounts necessary to pay taxes
reasonably anticipated as a result of the distribution, after taking into account the extent to
which such emergency is or may be relieved: (i) through reimbursement or compensation by insurance
or otherwise (other than compensation that would otherwise be available to the Participant from
either a tax-qualified plan or another non-qualified deferred compensation plan (irrespective of
whether such non-qualified deferred compensation plan is subject to Section 409A)), (ii) by
liquidation of the Participant’s assets, to the extent the liquidation of such assets will not
itself cause severe financial hardship, or (iii) by additional compensation that may be available
to such Participant by reason of a cancellation of deferrals under Section 3.3 of this Plan.
Foreseeable needs for funds, such as the need to send a Participant’s child to college or the
desire to purchase a home, shall not be considered to be an Unforeseeable Emergency.

     6.5 Payments upon Income Inclusion Under Section 409A. It is intended that the
provisions of this Plan shall comply with the requirements of Section 409A; however, if it is
determined that the provisions of this Plan do not comply with the requirements of Section 409A and
a Participant is required to include in income amounts otherwise deferred under this Plan, the
Participant shall be entitled, upon request, to receive a distribution not to exceed the amount
required to be included in income as a result of the failure of the Plan to meet the requirements
of Section 409A. Amounts distributable pursuant to this Section 6.5 shall be distributed as soon
as administratively feasible, but no later than ninety (90) days after the date of the
determination that the Plan does not comply with the requirements of Section 409A.

     6.6 Expenses Incurred in Enforcing the Plan. SYSCO will, in addition, pay a
Participant for all legal fees and expenses incurred by him in contesting or disputing his removal
from the Board of Directors or in seeking to obtain or enforce any benefit provided by this Plan if
the removal occurs in the Plan Year in which a Change of Control occurs or during the next three
succeeding Plan Years following the Plan Year in which a Change of Control occurs.

     6.7 Responsibility for Distributions and Withholding of Taxes. The Board or its
designee shall furnish information to SYSCO concerning the amount and form of distribution to any
Participant entitled to a distribution so that SYSCO may make or cause the Trust to make the
distribution required. The Board or its designee shall also calculate the deductions from the
amount of the benefit paid under the Plan for any taxes required to be withheld by federal, state,
or local government and shall cause them to be withheld.

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ARTICLE VII

ADMINISTRATION

     7.1 Powers of the Board. The Board shall have the exclusive responsibility for the
general administration of the Plan according to the terms and provisions of the Plan and shall have
all powers necessary to accomplish those purposes, including, but not by way of limitation, the
right, power, and authority:

     (a) to make rules and regulations for the administration of the Plan;

     (b) to construe all terms, provisions, conditions, and limitations of the Plan;

     (c) to correct any defect, supply any omission, or reconcile any inconsistency
that may appear in the Plan in the manner and to the extent it deems expedient to
carry the Plan into effect for the greatest benefit of all parties at interest;

     (d) to designate the persons eligible to become Participants;

     (e) to determine all controversies relating to the administration of the Plan,
including but not limited to:

     (i) differences of opinion arising between SYSCO and a Participant, except when the
difference of opinion relates to the entitlement to, the amount of, or the method or timing
of payment of a benefit affected by a Change of Control, in which event, such difference
shall be decided by judicial action; and

     (ii) any question it deems advisable to determine in order to promote the uniform
administration of the Plan for the benefit of all parties at interest;

     (f) to delegate by written notice any Plan administration duties of the Board to
such individual members of the Board, individual employees of SYSCO, or groups of
employees of SYSCO, as the Board determines to be necessary or advisable to properly
administer the Plan; and

     (g) to designate the investment options treated as Investments for purposes of
this Plan.

     7.2 Board Discretion. The Board, in exercising any power or authority granted under
this Plan or in making any determination under this Plan, shall perform or refrain from performing
those acts pursuant to such

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authority, using its sole discretion and judgment. By way of amplification and without
limiting the foregoing, SYSCO specifically intends that the Board have the greatest possible
discretion to construe the terms of the Plan and to determine all questions concerning eligibility,
participation, and benefits. Any decision made by the Board or any refraining to act or any act
taken by the Board in good faith shall be final and binding on all parties. The Board’s decision
shall never be subject to de novo review. Notwithstanding the foregoing, the Board’s decisions,
refraining to act or acting is to be subject to judicial review for those incidents occurring
during the Plan Year in which a Change of Control occurs and during the next three succeeding Plan
Years.

     7.3 Reimbursement of Expenses. The Board shall serve without compensation for its
services but shall be reimbursed by SYSCO for all expenses properly and actually incurred in the
performance of its duties under the Plan.

     7.4 Indemnification. To the extent permitted by law, members of the Board of
Directors, employees of SYSCO, and all agents and representatives of SYSCO shall be indemnified by
SYSCO, and saved harmless against any claims resulting from any action or conduct relating to the
administration of the Plan, except claims arising from gross negligence, willful neglect, or
willful misconduct.

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ARTICLE VIII

AMENDMENT AND/OR TERMINATION

     8.1 Amendment or Termination of the Plan. The Board of Directors may amend or
terminate this Plan at any time by an instrument in writing.

     8.2 No Retroactive Effect on Account. Absent a Participant’s prior consent, no
amendment shall affect the rights of such Participant to the amounts then standing to his credit in
his Account in the Deferred Compensation Ledger, to change the method of calculating Investment
earnings and losses already accrued prior to the date of the amendment, or to change a
Participant’s rights under any provision relating to a Change of Control after a Change of Control
has occurred. However, the Board of Directors shall retain the right at any time to change in any
manner the method of calculating Investment earnings and losses effective from and after the date
of the amendment if it has been announced to the Participants.

     8.3 Effect of Termination. Upon termination of the Plan, the following provisions of
this Section 8.3 shall apply:

          (a) No additional amounts shall be credited to any Participant’s Account in the Deferred
Compensation Ledger, to the extent that such amounts relate to Director’s fees earned on or after
the effective date of the Plan’s termination.

          (b) The Board or its designee may, in its sole discretion, authorize distributions of the
balance of the Participant’s Account in the Deferred Compensation Ledger to Participants as a
result of the Plan’s termination, provided that:

          (i) All deferred compensation arrangements sponsored by the Company that would be
aggregated with this Plan under Section 1.409A-1(c) of the Treasury Regulations if the
Participant participated in such arrangements are terminated;

          (ii) No distributions other than distributions that would be payable under the terms of
the Plan if the termination had not occurred are made within twelve (12) months of the
termination of the Plan;

          (iii) The remaining balances of all Participants’ Accounts after distributions pursuant
to Section 8.3(b)(ii), are distributed within twenty-four (24) months of the termination of
the Plan; and

          (iv) SYSCO does not adopt a new deferred compensation arrangement at any time within
three (3) years following the date of the termination of the Plan that would be aggregated
with this Plan under Section 1.409A-1(c) of the Treasury Regulations if the Participant
participated in this Plan and the new arrangement.

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          (c) Except as otherwise provided in Section 8.3(a) and 8.3(b), on and after the
effective date of the Plan’s termination, (i) the Plan shall continue to be
administered as it was prior to the Plan’s termination, (ii) all amounts credited the
Participant’s Account in the Deferred Compensation Ledger prior to the date of
termination shall be payable only under the conditions, at the time, and in the form
then provided in this Plan, and (iii) no Participant shall be entitled to a
distribution of his Account solely as a result of the Plan’s termination in
accordance with the provisions of this Article VIII.

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ARTICLE IX

FUNDING

     9.1 Payments Under This Plan Are the Obligation of SYSCO. SYSCO shall pay the
benefits due the Participants under this Plan; however, should it fail to do so when a benefit is
due, the benefit shall be paid by the trustee of that certain trust established pursuant to Section
9.2. In any event, if the Trust fails to pay for any reason, SYSCO shall remain liable for the
payment of all benefits provided by this Plan.

     9.2 Plan Obligations May Be Funded Through Rabbi Trust. It is specifically recognized
by both SYSCO and the Participants that SYSCO may, but is not required to, contribute any amount it
finds desirable to a so-called “Rabbi Trust,” established to accumulate assets to fund the
obligations of SYSCO under this Plan. However, under all circumstances, the rights of the
Participants to the assets held in the Trust shall be no greater than the rights expressed in the
Plan and the trust agreement governing the Trust. Nothing contained in any trust agreement which
creates any funding trust or trusts shall constitute a guarantee by SYSCO that assets of SYSCO
transferred to that trust or those trusts shall be sufficient to pay any benefits under this Plan
or would place the Participant in a secured position ahead of general creditors should SYSCO become
insolvent or bankrupt. Any trust agreement prepared to fund SYSCO’s obligations under the Plan
must specifically set out these principles so it is clear in that trust agreement that the
Participants in this Plan are only unsecured general creditors of SYSCO in relation to their
benefits under this Plan.

     9.3 Reversion of Excess Assets. SYSCO may at any time request the record keeper for
the Plan to determine the present Account balance, taking into account credits and debits arising
from the deemed Investment earnings and losses in accordance with Section 4.3 and interest credited
pursuant to Section 4.4, as of the month end coincident with or next following the request, of all
Participants and Beneficiaries of deceased Participants for which SYSCO is or will be obligated to
make payments under this Plan. If the fair market value of the assets held in the Trust, as
determined by the Trustee as of that same date, exceeds the total of the accrued benefits of all
Participants and Beneficiaries by 25%, SYSCO may direct the trustee to return to it all of the
excess funds. However, if there has been a Change of Control, for the purpose of determining if
there are excess funds, all contributions made prior to the Change of Control shall be subtracted
from the fair market value of the assets held in the Trust as of the determination date but before
the determination is made.

     9.4 Participants Must Rely Only on General Credit of SYSCO. It is also specifically
recognized by both SYSCO and the Participants that this Plan is only a general corporate commitment
and that each Participant must rely upon the general credit of SYSCO for the fulfillment of its
obligations hereunder. Under all circumstances the rights of Participants to any asset held by
SYSCO shall be no greater than the rights expressed in this Plan. Nothing contained in this Plan
shall constitute a guarantee by SYSCO that the assets of SYSCO will be sufficient to pay any
benefits under this Plan or would place the Participant in a secured position ahead of general
creditors of SYSCO. Though SYSCO has established and may fund a Rabbi Trust, as indicated in
Section 9.2, to accumulate

-21-

 

assets to fulfill its obligations, the Plan and any such trust shall not create any lien,
claim, encumbrance, right, title or other interest of any kind whatsoever in any Participant in any
asset held by SYSCO, contributed to any such trust or otherwise designated to be used for payment
of any of its obligations created in this Plan. No specific assets of SYSCO have been or will be
set aside, or will in any way be transferred to any trust or will be pledged in any way for the
performance of SYSCO’s obligations under this Plan which would remove such assets from being
subject to the general creditors of SYSCO.

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ARTICLE X

MISCELLANEOUS

     10.1 Limitation of Rights. Nothing in this Plan shall be construed:

     (a) to give any member of the Board of Directors any right to be designated a
Participant in the Plan;

     (b) to give a Participant any right with respect to the fee or compensation
deferred, the deemed Investment earnings and losses, or the interest credited in the
Deferred Compensation Ledger, except in accordance with the terms of this Plan;

     (c) to limit in any way the right of SYSCO to remove a Participant from the
Board of Directors at any time;

     (d) to evidence any agreement or understanding, expressed or implied, that SYSCO
shall retain a Participant as a member of the Board of Directors for any particular
remuneration; or

     (e) to give a Participant or any other person claiming through him any interest
or right under this Plan other than that of any unsecured general creditor of SYSCO.

     10.2 Distributions to Incompetents or Minors. Should a Participant become incompetent
or should a Participant designate a Beneficiary who is a minor or incompetent, the Board is
authorized to pay the funds due to the parent of the minor or to the guardian of the minor or
incompetent or directly to the minor or to apply those funds for the benefit of the minor or
incompetent in any manner the Board determines in its sole discretion.

     10.3 Nonalienation of Benefits. No right or benefit provided in this Plan shall be
transferable by the Participant except, upon his death, to a named Beneficiary as provided in this
Plan. No right or benefit under this Plan shall be subject to anticipation, alienation, sale,
assignment, pledge, encumbrance or charge, and any attempt to anticipate, alienate, sell, assign,
pledge, encumber, or charge the same shall be void. No right or benefit under this Plan shall in
any manner be liable for or subject to any debts, contracts, liabilities or torts of the person
entitled to such benefits. If any Participant or any Beneficiary becomes bankrupt or attempts to
anticipate, alienate, sell, assign, pledge, encumber or charge any right or benefit under this
Plan, that right or benefit shall, in the discretion of the Board, cease. In that event, the Board
may have SYSCO hold or apply the right or benefit or any part of it to the benefit of the
Participant or Beneficiary, his or her spouse, children or other dependents or any of them in any
manner and in any proportion the Board believes to be proper in its sole and absolute discretion,
but is not required to do so.

-23-

 

     10.4 Reliance Upon Information. The Board shall not be liable for any decision or
action taken in good faith in connection with the administration of this Plan. Without limiting
the generality of the foregoing, any decision or action taken by the Board when it relies upon
information supplied to it by any officer of SYSCO, SYSCO’s legal counsel, SYSCO’s independent
accountants, or other advisors in connection with the administration of this Plan shall be deemed
to have been taken in good faith.

     10.5 Severability. If any term, provision, covenant or condition of the Plan is held
to be invalid, void or otherwise unenforceable, the rest of the Plan shall remain in full force and
effect and shall in no way be affected, impaired or invalidated.

     10.6 Notice. Any notice or filing required or permitted to be given to SYSCO, the
Board or a Participant shall be sufficient if submitted in writing and hand-delivered or sent by
U.S. mail to the principal office of SYSCO or to the residential mailing address of the
Participant. Notice shall be deemed to be given as of the date of hand-delivery or if delivery is
by mail, as of the date shown on the postmark.

     10.7 Gender and Number. If the context requires it, words of one gender when used in
this Plan shall include the other, and words used in the singular or plural shall include the
other.

     10.8 Governing Law. The Plan shall be construed, administered, and governed in all
respects by the laws of the State of Texas.

     10.9 Effective Date. This Plan shall be operative and effective on January 1, 2005.

     10.10 Compliance with Section 409A.

          The Plan (i) is intended to comply with, (ii) shall be interpreted and its provisions shall be
applied in a manner that is consistent with, and (iii) shall have any ambiguities therein
interpreted, to the extent possible, in a manner that complies with Section 409A.

     IN WITNESS WHEREOF, SYSCO has executed this document as of January 1, 2005.

	 	 	 	 	 
	 	SYSCO CORPORATION

 	 
	 	By:  	/s/ Michael C. Nichols
 	 
	 	 	Name:  	Michael C. Nichols 	 
	 	 	Title:  	Sr. Vice President, General Counsel and
Corporate Secretary 	 

-24-

 

	 	 	 	 	 

EXHIBIT “A”

INVESTMENT OPTIONS

[Attached]

-25-

 

     Effective January 1, 2005

FIRST AMENDED AND RESTATED 

SYSCO CORPORATION 2005

BOARD OF DIRECTORS DEFERRED COMPENSATION PLAN

INVESTMENT OPTIONS

     The following are the “Investments” that are available under the First Amended and Restated
2005 SYSCO Corporation Board of Directors Deferred Compensation Plan:

	 	 	 
	Options	 	Manager
	Equity Income Trust

	 	T. Rowe Price Associates, Inc.
	500 Index B Trust

	 	MFC Global Investment Management
	Mid-Value Trust

	 	T. Rowe Price Associates, Inc.
	Overseas Equity Trust

	 	Capital Guardian Trust Company
	Small Cap Value Trust

	 	Wellington Management Company LLC
	Brandes International Equity Fund

	 	Brandes Investment Partners
	Frontier Capital Appreciation

	 	Frontier Capital Management Company, LLC
	Bond Index B Trust

	 	Declaration Management & Research LLC

Default Investment

     Moody’s Average Corporate Bond Yield, plus 1%, as described in the Plan’s Default Investment
definition.

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