Document:

executiveseveranceplan20

                                                                                                            TECH DATA CORPORATION                          EXECUTIVE SEVERANCE PLAN                 (As amended and restated effective March 18, 2019)                                                   This  Tech  Data  Corporation  Executive  Severance  Plan  (the  “Plan”)  was   established by Tech Data Corporation, a corporation duly organized and existing under   the laws of the State of Florida (the “Company”).                                             RECITALS:                                                   WHEREAS,  effective  as  of  August  1,  2000,  the  Company  adopted  the  Plan  to   provide  severance  benefits  to  eligible  employees  solely  in  the  event  of  a  Company-  initiated separation for reasons other than gross misconduct;                  WHEREAS, effective as of January 1, 2007, the Company amended and restated   the Plan to comply with the requirements of Section 409A of the Internal Revenue Code   of 1986, as amended (the “Code”); and                  WHEREAS, the Company now desires to amend and restate the Plan to, among   other  things,  reflect  the  Company’s  change  from  a  tier-based  executive  classification   system to one based upon global career level (“GCL”).                  NOW, THEREFORE, in consideration of the premises and mutual covenants set   forth herein, the Company hereby amends and restates the Plan to contain the following   terms and provisions.                                              I.    PLAN PURPOSE.      The purpose of the Plan is to provide severance benefits to eligible employees solely in   the event of an Employer-initiated separation for reasons other than gross misconduct.      II.   PLAN INTERPRETATION.      The  Plan  is  intended  to  be a  “top  hat” welfare  benefit plan, that  is,  an unfunded plan   maintained by the Employer (as defined in Article III below) to provide welfare benefits to   a select group of management or highly compensated employees, within the meaning of   sections of 201(a), 301(a)(3), and 401(a)(1) of the Employee Retirement Income Security   Act of 1974, as amended (“ERISA”), and the Plan will be interpreted and administered   consistent with the top hat provisions of Title I of ERISA.         III.  ELIGIBILITY AND PARTICIPATION IN THE PLAN.      An  employee  will  be  eligible  to  participate  in  the  Plan  if  he  or  she  satisfies  all  of  the   following requirements:       10269  

 

                                                                                       1.    The  employee  works  for  either  (i)  the  Company,  or  (ii)  any  one  of  the              Company’s U.S. based subsidiaries or affiliates that have adopted this Plan              with the permission of the Plan Administrator.  The list of subsidiaries and              affiliates that have adopted this Plan is set forth in Attachment A to this Plan              that may  be  updated  from  time  to  time.  The  Company  and  each  of  the              participating subsidiaries and affiliates are referred to in this Plan as the              “Employer.”            2.    The employee holds a position with the Employer with a GCL of 19 or above.                3.    The employee  is  a member  of  a  “select  group  of  management  or highly              compensated  employees,”  within  the  meaning  of  Sections  201(a),              301(a)(3), and 401(a)(1) of ERISA, of the Employer as determined by the              Plan Administrator.          An eligible employee will commence participation in the Plan as of the date stated in the  written notification (the “Termination Notice”) that the Employer provides to the employee.   The Termination Notice will document the Employer's intent to initiate the termination of  the  employee  based  on  factors  other  than  the  employee’s gross misconduct.   Notwithstanding anything to the contrary herein, however, an employee’s eligibility for and  the amount of any benefits payable under the Plan shall be superseded by the terms of  any written agreement between the Employer and the employee that specifically refers to  this Plan. In addition, notwithstanding anything to the contrary set forth herein, if and to  the  extent  an  eligible  employee  participates  in  the  Tech  Data  Corporation  Change  in  Control Severance Policy and receives Severance Payments (as defined under the Tech  Data  Corporation  Change  in  Control  Severance  Policy)  thereunder,  such  eligible  employee will not be entitled to participate in the Plan.    IV.   PLAN SPECIFICS.    Employees who have been provided with the Termination Notice as specified in Article III  above (hereafter referred to as “Participants”), and who are terminated from employment  with  the  Employer  as  provided  in  the  Termination  Notice,  will  receive  benefits  in  accordance with the following:          1.    Severance Payments.                      (a)   Eligibility.  To be eligible to receive severance payments (“Severance              Payments”) under this Plan, a Participant must first sign the current forms              of Separation Agreement, Noncompete Agreement and General Release              (collectively,  the  “Separation  Agreement”) that will  be provided to  the              Participant prior  to the actual date  of  termination  of  employment  with              Employer as  set  forth  in  the  Participant’s  Termination  Notice (the              “Termination Date”),  and  the  effective  date  set  forth  in  such  Separation              Agreement (the “Effective Date”) has occurred, provided, that in the event              that the Effective Date has not occurred within sixty (60) days following the              Termination Date, no payments or benefits will be paid or provided to the                                         2  

 

                                                                                             Participant under this Plan.  The current form of the Separation Agreement              is attached hereto as Attachment B and may be changed at any time by the              Employer in its sole discretion.                            (b)   Period of Severance Payments.  An eligible Participant will receive              Severance  Payments  for  a  specified  number  of  months  following  the              Participant’s Effective Date, subject to the Participant’s compliance with the              Separation Agreement.  The number of months of Severance Payments for              any Participant will be based on (i) the Participant’s GCL with the Employer,              and (ii) the Participant’s aggregate number of Years of Service (as defined              below) with the Employer, as set forth in the following table:                                                  Years of Service                              Weeks or             2 to   >  5     Outplacement                                        < 1.99     Title*, Tier or Status  Months             4.99    Yrs        Services                                                                        Above GCL 26 (includes                                         Executive 12  CEO)                       Months       18     21      24         Month                                                                  Executive 12  GCL 25 – 26                Months       15     18      21         Month                                                                   Executive 6   GCL 22-24                  Months       6       9      12         Month                                                                  Professional 6  GCL 19-21                  Months       3       6      9          Month               *  Titles  are  representative  and  may  change  from  time  to  time.  The GCL will  be     determinative as to the severance period.                Severance Payments will be paid for the period (the “Benefits Period”) commencing on  the Effective Date and ending on the date which falls on the same day as the Termination  Date  in  the  calendar  month  that  is  the  specified  number  of  months  after  the  month  containing the Effective Date.  For example, a GCL 20 Participant with 5 Years of Service  will be entitled to 9 months of Severance Payments, and if this Participant’s Effective Date  is February 23 in a particular calendar year, Severance Payments will be made for the  period beginning on February 23 and ending on November 23 in the same calendar year.   For the avoidance of doubt, in the event the Particpant breaches any of the provisions of  the Separation Agreement, the Company shall cease making any payments or benefits  to such Participant hereunder, and such Participant shall cease to be eligible to receive  any further payments or benefits under the Plan.                For  purposes  of  determining a  Participant’s  Severance  Payments, the term “Years  of  Service” shall mean the following:                                         3  

 

                                                                             (1)   A Participant’s Years of Service will be the whole number of              years  of  the  Participant’s  continuous  employment  with  the              Employer,  measured  from  the  Participant’s  original  date  of              hire with the Employer, with a Year of Service being credited              on each succeeding anniversary of the Participant’s date of              hire.  Partial years are not credited.                (2)   In  the  event  a  Participant  terminates  employment  with  the              Employer, and then is reemployed by the Employer no later              than  6 months  after  the  date  the  Participant terminates              employment, the gap in employment will be ignored, and the              Participant  will  be  deemed  to  have  been  continuously              employed  with  the  Employer  from  the  Participant’s  original              date  of  Employment.   If  a  Participant  who  terminates              employment  with  the  Employer  is  reemployed more  than 6              months after the date on which the Participant’s employment               terminated, all  previously  credited  Years  of  Service  will  be              forfeited,  and  the  Participant  will  be  credited  with  Years  of              Service  beginning  on  the  date  of  reemployment,  in              accordance with Paragraph (1) above.    (c)   Amount of Severance Payments.  For each day during the Benefits  Period, an eligible Participant will be entitled to the Participant’s daily rate  of base pay.  This daily rate is determined by taking the Participant’s annual  rate of base pay as of the Termination Date, and dividing it by the number  of days (365 or 366) in the calendar year containing the Termination Date.    (d)   Payment of Severance Payments.  As of each bi-weekly pay date  during the Benefits Period, an eligible Participant will receive payment of  the Severance Payments that had accrued since the prior pay date, or in  the case of the first Severance Payment, since the Participant’s Termination  Date.  If there are unpaid Severance Payments at the end of the Benefit  Period, the Participant shall be paid the remaining Severance Payments on  the  first  pay  date  following  the  Benefits  Period;  provided,  however,  any  Participant  whose  Benefit  Period  is  24  months  shall  receive  all  unpaid  Severance Payments in the last month of the Benefit Period.  All payments  of  Severance  Payments  shall  be  subject  to  applicable  withholding  and  employment taxes.    (e)   Six  month  period.   Notwithstanding  anything  in  this  Plan  to  the  contrary,  no  Severance  Payments  shall  be  made  during  the  first  six  (6)  months following the Termination Date, unless such payments qualify for  the  Short-Term  Deferral  Exception  or the Separation  Pay  Exception  referred to in Article V, Paragraph 4.(c) and 4.(d) of this Plan.                                            4  

 

                                                                                          2.    Annual Incentive Plan.                       Participants  involuntarily  terminated  for  reasons  other  than gross        misconduct  will  receive a prorated portion  of  the  Participant’s  annual        incentive under the senior management bonus program. This portion will be        prorated through the Participant’s Termination Date and will be based on a        100% payout of the annual incentive. If applicable, any quarterly metric will        also be prorated through the Participant’s Termination Date, and will also        be based on 100% payout of such quarter incentive. The Participant’s entire        prorated incentive will be paid with the first Severance Payment.        Following  the  Termination  Date,  Participants  will  not  receive  any  further        opportunity to participate in any portion of the senior management bonus        program for the current or prospective fiscal year.     3.    Long-Term Incentive Plans.                       This Plan does not provide any separate terms for the administration and        determination  of  eligibility  or  payments  under  the Employer’s long-term        incentive plans.  The underlying agreements and the actual provisions of        those long-term incentive plans will govern any payment or vesting.          4.    No Other Employer Provided Compensation and Benefits.          Except as otherwise specifically provided in this Plan, a Participant’s receipt        of  Plan  benefits  will  not  thereby  entitle  the  Participant  to  any  other        compensation or benefits provided to employees or former employees of        the Employer, including but not limited to bonuses, health care coverage,        and other welfare benefits.  This Paragraph 4 will not affect any rights a        Participant  may  have  to  benefits  independent  of  this Plan,  for  example,        COBRA health care continuation coverage.     5.    Death of Participant.          In the event a Participant dies following the applicable Effective Date but        prior to the date on which all Severance Payments due to such Participant        have been made, and subject to Section 1(b) above, the remainder of such        Severance Payments, including any prorated annual incentive payments,        will be paid to the Participant’s beneficiary of record on the prior Company-       paid life insurance policies applicable to such Participant; provided, that, if        no such insurance policies exist, no such beneficiary is named or any such        beneficiary  is  also  deceased,  then  such  Severance  Payments  shall  be        allocated to the Participant’s beneficiaries under the Tech Data Corporation        401(k)  Plan or  any  successor  plan  covering  the  Participant  (the  “401(k)        Plan”) in the same manner as payments due under the 401(k) Plan upon        the Participant’s death are allocated.                                     5  

 

                                                                                               V.    ADMINISTRATION.          1.    General  Assets.   The  Plan  constitutes  an  unsecured  promise  by each        Employer  to  pay  Severance  Benefits  in  the  future.   The  obligations  of  each        Employer under this Plan shall be paid from the general assets of the Employer        and not from any  particular  fund.   Participants  shall have  the  status  of  general        unsecured creditors of the Employer.  It is intended that this Plan shall constitute        an “unfunded” plan for Federal tax purposes and an “unfunded” plan for a “select        group  of  management”  or  “highly  compensated employees” within  the meaning        ascribed to those terms under Sections 201(2), 301(a)(3), and 401(a)(1) of ERISA.                2.    Plan Administrator. This  Plan  will  be  administered  by  the  CEO  and  the        Chief Human Resources Officer of the Company (or their designees) (hereafter        collectively “Plan Administrator”).  The Plan Administrator has complete and sole        discretion and authority to interpret the terms of the Plan and has sole discretion        and  authority  to  determine  questions  of  eligibility  and  amount  of  Severance        Payments and any other benefits contemplated herein, if any, due under the Plan.                3.    Effect of Amendment or Termination.  The Company reserves the right to        modify and/or discontinue this Plan. Any modification or termination of the Plan will        be communicated to all eligible employees affected by such action.                4.    Section 409A Ordering Rules.  The Plan Administrator shall operate and        administer the Plan, for purposes of applying the provisions of Section 409A of the        Code thereto, by adhering to the following rules:                            (a)   Separate  Payments.   Each  separately  identified  amount  to        which  a  Participant  is  entitled  under  the  Plan  shall  be  treated  as  a  “separate        payment.”                            (b)   Right  to  Series  of  Separate  Payments.   To  the  extent        permissible under Section 409A of the Code, any series of installment payments        under the Plan shall be treated as a “right to a series of separate payments.”                            (c)   Short-Term Deferral Exception.  Unless otherwise required to        comply  with  Section  409A  of  the  Code,  a  payment  shall  not  be  treated as  a        “deferral  of  compensation”  (as  such  term  is  described  in  §1.409A-1(b)  of  the        Treasury Regulations) if such payment is paid no later than two and one-half (21⁄2)        months after the end of the taxable year of the Participant in which the payment is        no longer subject to a “substantial risk of forfeiture” (as such term is described in        §1.409A-1(d) of the Treasury Regulations).                            (d)   Separation  Pay  Exception.   Unless  otherwise  required  to        comply  with  Section  409A  of  the  Code,  a  payment  shall  not  be  treated  as a        “deferral  of  compensation”  (as  such  term  is  described  in  §1.409A-1(b)  of  the        Treasury Regulations) if such payment satisfies the following requirements:                                         6  

 

                                                                                                     (1)   the payment is being paid or provided due to the “separation from        service” (as such term is described in §1.409A-1(h) of the Treasury Regulations)        of  the Participant, that  is  an “involuntary  termination”  of  the Participant by  the        Employer;                       (2)   the payment being paid or provided does not exceed two (2) times        the lesser of:                        (A)   the Participant’s annualized compensation from the Employer for the        calendar year in which the involuntary termination of the Participant’s employment        occurs; and                            (B)   the  maximum  dollar  amount  that  may  be  taken  into  consideration        under a qualified plan pursuant to Section 401(a)(17) of the Internal Revenue Code        of 1986, as amended for the calendar year in which the involuntary termination of        the Participant’s employment occurs; and                      (3)   the payment is required under the Plan to be paid no later than the        last  day  of  the  second  calendar  year  following  the  calendar  year  in  which  the        involuntary termination of the Participant’s employment occurs.     VI.   CLAIMS PROCEDURE.          A Participant or his or her duly authorized representative (“Claimant”) may file a        claim for a benefit under the Plan, and may appeal the denial of a claim.  All claims        and  appeals  should  be  filed  directly  with  the  Plan  Administrator.   The  Plan        Administrator will decide claims in a consistent manner with respect to similarly        situated Claimants.  All decisions will be made in accordance with the provisions        of  the  Plan  and  Department  of  Labor  Regulations  Section  2560.503-1  (the        “Regulation”).          The Plan Administrator will notify the Claimant of its decision with respect to a claim        in writing or electronically.  The notification will be written in a manner calculated        to be understood by the Claimant.  If the claim is wholly or partially denied, the        notification will contain (i) specific reasons for the denial, (ii) specific reference to        the  pertinent  provisions  of  the  Plan  upon  which  the  denial  is  based,  (iii)  a        description of any additional material or information necessary for the Claimant to        perfect  the  claim  and  an  explanation  of  why  that  material  or  information  is        necessary, and (iv) an explanation of the steps to be taken if the Claimant wishes        to submit a request for review of the claim, as set forth below.  The notification will        be given within 90 days after the claim is received by the Plan Administrator (or        within 180 days, if special circumstances make it impossible to decide the claim        within 90 days and the Plan Administrator notifies the Claimant in writing of the        extension prior to the end of the first 90-day period).  If a decision is not provided        within the 90 or 180-day period, the claim will be considered denied as of the last                                          7  

 

                                                                                       day of such period and the Claimant may request a review of the claim, as provided        below.                Within  60  days  after  the  date  the  Claimant  is  notified  of  a  denied  claim  (or,  if        applicable, within 60 days after the date on which the claim is treated as denied),        the Claimant may file a written request with the Plan Administrator for a review of        the denied claim.  The Claimant may also make a written request for access to and        copies of pertinent documents in the possession of the Plan Administrator, free of        charge.  The Claimant may submit with the written request for review comments,        documents, records and other information, and those materials will be considered        by  the  Plan  Administrator,  regardless  of  whether  they  were  submitted  with  or        considered in the initial benefit determination.  The Plan Administrator will notify        the  Claimant  of  its  decision  in  writing  or  electronically.   The  notification  will  be        written in a manner calculated to be understood by the Claimant.  If the claim is        wholly or partially denied, the notification will contain (i) specific reasons for the        denial, and (ii) specific reference to the pertinent provisions of the Plan upon which        the denial is based.  The notification will be given within 60 days after the request        for  review  is  received  by  the  Plan  Administrator  (or  within  120  days,  if  special        circumstances require an extension of time for processing the request, such as an        election by the Plan Administrator to hold a hearing, and if written notice of such        extension  and  circumstances  is  given  to  the  Claimant  within  the  initial  60-day        period).  If a decision is not provided within the 60 or 120-day period, the claim will        be considered denied.  Upon a final adverse determination on review, the Claimant        will be permitted to bring a civil action under ERISA Section 502(a).    VII.  SUCCESSOR EXCLUSION.          This Plan will not provide any benefits in the event of a transaction involving a        corporate sale or a legal or organizational restructuring of the Company or any        other  legal  entity  comprising  the Employer,  or  for  intercompany  transfers of  an        employee among  the  Company,  any  of  its  subsidiaries,  or  any  of  the entities        comprising the Employer.          VIII. PLAN YEAR.          The Plan operates on a calendar year basis.    IX.   MISCELLANEOUS.          1.    State Law.  This Plan shall be construed in accordance with the laws of        Florida.                2.    Liability Limited.  In administering the Plan, neither the Plan Administrator        nor any officer, director or employee thereof, shall be liable for any act or omission        performed or omitted, as the case may be, by such person with respect to the Plan;        provided,  that  the  foregoing  shall  not  relieve  any  person  of  liability  for  gross        negligence, fraud or bad faith. The Plan Administrator, its officers, directors and                                         8  

 

                                                                                     employees  shall  be  entitled  to  rely  conclusively  on  all  tables,  valuations,       certificates,  opinions  and  reports  that shall  be  furnished  by  any  actuary,       accountant, trustee, insurance company, consultant, counsel or other expert who       shall be employed or engaged by the Plan Administrator in good faith.              3.    Compliance with Section 409A.  This Plan shall be construed in an manner       consistent with the applicable requirements of Section 409A of the Code, and the       Plan Administrator, in its sole discretion and without the consent of any Participant,       may  amend  the  provisions  of  this  Plan  if  and  to  the  extent  that  the  Plan       Administrator  determines  that  such  amendment  is  necessary  or  appropriate  to       comply with the applicable requirements of Section 409A of the Code.                                   * * * * * * * *                 IN WITNESS WHEREOF, the Company has caused this Plan to be executed by its duly  authorized officer this 18th day of March, 2019.                                                       TECH DATA CORPORATION                                                                      By: /s/ Beth Simonetti                                         Name: Beth Simonetti                                        Title: Chief Human Resources Officer                                                                                  9  

 

                                                                                                   ATTACHMENT A TO THE                        TECH DATA CORPORATION                      EXECUTIVE SEVERANCE PLAN                                          The following legal entities have adopted this Plan as an Employer as that term is  used in the Plan for purposes of determining eligibility of employees to participate  in the Plan:      Tech Data Corporation    AVT Technology Solutions LLC    ExitCertified Corp.    Tech Data Government Solutions LLC    Tech Data Puero Rico, Inc.    Tech Data Product Management, Inc.    Tech Data Tennessee, Inc.    Tech Data Resources, LLC                                                        10  

 

                                                                       ATTACHMENT B  SEPARATION AGREEMENT (ATTACHED)                    11  

 

                                                                                                                                                                                                      (“SEVERANCE AGREEMENT”)    Tech Data Corporation, a Florida Corporation located at 5350 Tech Data Drive, Clearwater,  FL 33760, its affiliates, subsidiaries, divisions, successors and assigns and the employees,  officers,  directors  and  agents  thereof  (collectively  referred  to  throughout  this  Severance  Agreement as "Employer"), and [Name] (the “Employee”) agree that it is in the mutual best  interest of both parties to reach mutual agreement related to the Employee’s termination of  employment.                1.    Last Day of Employment.  Employee’s last day of employment with  Employer is [Date].                            2.    Consideration.  In consideration for signing this Severance Agreement  and compliance with the promises made herein, Employer agrees to: 1) extend to Employee  participation  in  the  Executive  Severance  Plan  (the  “Plan”)  and  any  benefits  provided  thereunder;  and  2)  provide  outplacement  services  as  described  in  the  Separation  from  Employment letter dated [Date].                            3.    No Consideration Absent Execution of this Severance Agreement.   Employee understands and agrees that Employee would not participate in the Plan and would  not  receive  any  benefits  thereunder  except  for  Employee’s  execution  of  this  Severance  Agreement and the fulfillment of the promises contained herein.  The Employer reserves the  right to discontinue payments under the Plan if Employee violates any of the terms of this  Severance  Agreement.   Employee  acknowledges  that  any  payments  received  under  this  Severance Agreement prior to discontinuance for violation are sufficient consideration for this  Severance Agreement and this Severance Agreement will remain in full force and effect.                4.    Confidential Information and Competition.                      a.    Confidential  Information.   Employee  acknowledges  that  Employer’s Confidential Information is the exclusive property of Employer, is material and  confidential,  and  greatly  affects  the  effective  and  successful  conduct  of  the  business  of  Employer.  Employee agrees to use Employer’s Confidential Information only for the benefit  of  Employer  and  shall  not  at  any  time,  directly  or  indirectly,  either  during  Employee’s  employment  with  Employer  or  afterward,  divulge,  reveal  or  communicate  Employer’s  Confidential  Information  to  any  person,  firm,  corporation  or  entity  whatsoever,  or  use  Employer’s Confidential Information for Employee’s own benefit or for the benefit of others.                                        b.    Definition.   As  used  in  this  Severance  Agreement,  the  term  “Confidential  Information”  means  any  and  all  information,  including,  but  not  limited  to,  information or ideas conceived or developed by Employee, applicable to or in any way related   Tech Data Corporation – Revised March 2019  12                                           

 

                                                                                                                                         to  (i) the  present or  future  business  of Employer,  (ii) research  and development  related  to  Employer’s  business,  (iii)  the  business  of  any  customer  or  vendor  of  Employer,  (iv)  trade  secrets,  (v)  processes,  formulas,  data,  program  documentation,  algorithms,  source  codes,  object codes, know-how, improvements, inventions, and techniques, (vi) all plans or strategies  for  marketing,  development  and  pricing,  and  (vii)  all  information  concerning  existing  or  potential customers or vendors, and all similar information disclosed to Employer by other  persons  and  any  information  in  documents  or  computers  that  Employer  designates  as  confidential by notation therein or thereon.  The definition of “Confidential Information” for  purposes of this Severance Agreement does not include information that is generally available  to and known by the public, provided that such disclosure to the public is through no fault of  the Employee or person(s) acting on the Employee's behalf.                                        c.    Non-Compete.  As a condition to Employer’s obligations under  this Severance Agreement, Employee agrees that for a period of [   ]________ (___)  months  following the effective date of separation of employment from Employer, within the United  States of America (and each incorporated and unincorporated area thereof), Employee will not  own,  manage,  operate,  control,  be  employed  by,  act  as  an  agent  for,  participate  in  or  be  connected  in  any  manner  with  the  ownership,  management,  operation  or  control  of  any  business which is engaged in business that is competitive to Employer’s  business, including  but not limited to the companies listed on Exhibit A.  Nothing contained in this paragraph shall  be interpreted to prohibit Employee from owning stock in publicly traded corporations that  may compete with Employer provided such stock ownership does not represent a majority or  controlling interest in such corporations.                      d.    Non-Solicitation.  Employee also agrees that  for a period of one  (1) year following the effective date of separation, Employee will not:  (i) directly or indirectly,  hire or participate in the hiring of any employee of Employer or its subsidiaries; (ii) solicit or  induce, or attempt to solicit or induce, any employee of Employer or its subsidiaries to leave  Employer for any reason; and (iii) solicit or induce, or attempt to solicit or induce any customer  of or vendor to Employer or its subsidiaries to stop doing business with or move some or all  of  such  customer  or  vendor  business  to  a  person  or  entity  other  than  Employer  and  its  subsidiaries.  Employee acknowledges that irreparable harm will be suffered by Employer in  the event of the breach or potential breach by Employee of any of Employee’s obligations  under this Severance Agreement.                      e.    Injunction  and  Attorney’s  Fees.   Employee  agrees  that  temporary  and  permanent  injunctions  are  appropriate  remedies  for  a  breach  or  threatened  breach of this paragraph 3. These remedies shall be in addition to and not in limitation of any  other rights or remedies to which Employer is or may be entitled at law or in equity.      Tech Data Corporation – Revised March 2019  13                                           

 

                                                                                                                                                           f.    Modification of Restrictions.  Employee has carefully read and  considered  subparagraphs  3.a.,  b.,  c.  and  d.  and  agrees  that  they  are  fair,  reasonable  and  reasonably required to protect Employer’s legitimate business interests.                5.    Revocation.   Employee  has  the  right  to  revoke  this  Severance  Agreement for a period of seven (7) days following the day Employee executes this Severance  Agreement.   Any  revocation  within  this  period  must  be  submitted, in  writing, to [HR  Representative] and state, “I hereby revoke my acceptance of our Severance Agreement”. The  revocation must be personally delivered or mailed to [HR Representative] and postmarked  within seven (7) days after Employee signs this Severance Agreement (“Revocation Period”).   If the last day of the Revocation Period is a Saturday, Sunday, or legal holiday in [State], then  the Revocation  Period shall  not  expire until the next  following  day  that is  not  a Saturday,  Sunday, or legal holiday.                6.    General  Release  of  Claim.  Employee  knowingly  and  voluntarily  releases  and  forever  discharges  Employer,  its  parent  corporation,  affiliates,  subsidiaries,  divisions,  predecessors,  insurers,  successors  and  assigns,  and  their  current  and  former  employees,  attorneys,  officers,  directors  and  agents  thereof,  both  individually  and  in  their  administrators  and  fiduciaries  (collectively  referred  to  throughout  the  remainder  of  this  Agreement  as  “Releases”)  of  and  from  any  and  all  claims,  known  and  unknown, that  Employee, Employee’s heirs, executors, administrators, successors, and assigns (referred to  collectively throughout this Severance Agreement as "Employee") have or may have as of the  date  of  execution  of  this  Severance  Agreement, including,  but  not  limited  to,  any  alleged  violation of:          .  Title VII of the Civil Rights Act of 1964;        .  The Civil Rights Act of 1991;        .  Sections 1981 through 1988 of Title 42 of the United States Code;        .  The Employee Retirement Income Security Act of 1974 ("ERISA"), as amended           (except for any vested benefits under any tax qualified benefit plan);        .  The Immigration Reform and Control Act;        .  The Americans with Disabilities Act of 1990;        .  The Workers Adjustment and Retraining Notification Act;        .  The Family and Medical Leave Act of 1993 (FMLA), as amended;        .  The Fair Credit Reporting Act;        .  The Fair Labor Standards Act of 1938 (FLSA), as amended;        .  The Occupational Safety and Health Act of 1970 (OSHA), as amended;    Tech Data Corporation – Revised March 2019  14                                           

 

                                                                                                                                               .  The Equal Pay Act of 1963;        .  The Lilly Ledbetter Fair Pay Act;        .  The National Labor Relations Act (NLRA), as amended;        .  The Uniformed Services Employment and Reemployment Rights Act (USERRA);        .  The Employee Polygraph Protection Act;        .  The Genetic Information and Nondiscrimination Act (GINA);        .  The Age Discrimination in Employment Act of 1967 and the Older Worker           Benefit Protection Act;        .  The Pregnancy Discrimination Act of 1978;        .  any other applicable federal, state or local law, rule, regulation, or ordinance;         .  any public policy, contract, tort, or common law; or        .  any basis for recovering costs, fees, or other expenses including attorneys' fees           incurred in these matters.  As  part  of  the  settlement,  Employee  specifically  waives  any  present  and  future  claim  to  reinstatement or employment with Employer at any time in the future.  In addition, Employee  specifically waives any rights of action and administrative and judicial relief which Employee  might otherwise have available in the state and federal courts, including all common law claims  and claims under federal and state constitutions, statutes and regulations and federal executive  orders and county and municipal ordinances and regulations.  Employee promises never to file  a  lawsuit  asserting  any  claims  that  are  released  by  this  Agreement.  Notwithstanding  the  foregoing  provisions,  nothing  in  this  Agreement  prohibits  Employee  from  bringing  an  administrative  charge  or  reporting possible  violations  of  federal  law  or  regulation  to  any  governmental agency or entity, including but not limited to the Equal Employment Opportunity  Commission, the National Labor Relations Board, the Department of Justice, the Department  of Labor, the Securities and Exchange Commission, the Congress, and any agency Inspector  General, or making other disclosures that are protected under the whistleblower provisions of  federal law or regulation.  Employee does not need the prior authorization of the Employer or  its legal counsel to make any such reports or disclosures and Employee is not required to notify  the Employer that Employee has made such reports or disclosures. Employee does not release  any claims that by law cannot be released.                7.    Acknowledgements  and  Affirmations.   Employee  affirms  that  Employee  has  not  filed,  caused  to  be  filed,  or  presently  is  a  party  to  any  claim  against  Employer.     Employee also affirms that Employee has reported all hours worked as of the date Employee  signs this release and has been paid and/or has received all compensation, wages, bonuses,   Tech Data Corporation – Revised March 2019  15                                           

 

                                                                                                                                         commissions, and/or benefits normally paid as of this date and all other compensation due will  be  paid  per  the  applicable  compensation  plan.  Employee  affirms  that  Employee  has  been  granted any leave to which Employee was entitled under the Family and Medical Leave Act  or related state or local leave or disability accommodation laws and has not been subjected to  retaliation for taking such leave.    Employee further affirms that Employee has not suffered any work injuries or occupational  diseases for which a claim has not already been filed.    Employee  also  affirms  that  Employee  has  not  divulged  any  proprietary  or  confidential  information of Employer.    Employee  further  affirms  that  Employee  has  not  been  retaliated  against  for  reporting  any  allegations of wrongdoing by Employer or its officers, including any allegations of corporate  fraud.      Employee further acknowledges and agrees that any corporate card of a financial institution  issued to Employee (“Corporate Card”) will be canceled upon Employee’s termination and  any outstanding balances will be deducted from Employee's final paycheck and/or separation  paycheck(s) and paid directly to the issuing financial institution to the extent permitted under  applicable law.  Employee hereby authorizes the Company to make such deductions from his/  her final paycheck or separation paycheck(s) and to make payments to the issuing financial  institution as described above, in accordance with applicable federal and state law.                8.    Governing Law and Interpretation.  This Severance Agreement shall  be governed and conformed in accordance with the laws of the State of Florida without regard  to its conflict of laws provision.  In the event of a breach of any provision of this Severance  Agreement, either party may institute an action specifically to enforce any term or terms of  this Severance Agreement and/or to seek any damages for breach.  Should any provision of  this  Severance  Agreement  be  declared  illegal  or  unenforceable  by  any  court  of  competent  jurisdiction  and  cannot  be  modified  to  be  enforceable,  such  provision  shall  immediately  become null and void, leaving the remainder of this Severance Agreement in full force and  effect.                9.    No  Admission  of  Wrongdoing.   The  Parties  agree  that  neither  this  Severance Agreement nor the furnishing of the consideration for this Severance Agreement  shall  be  deemed  or  construed  at  any  time  for  any  purpose  as  an  admission  by  releases  of  wrongdoing or evidence of any liability or unlawful conduct of any kind.                10.   Amendment.  This Severance Agreement may not be modified, altered  or changed except upon express written consent of both parties wherein specific reference is  made to this Severance Agreement.   Tech Data Corporation – Revised March 2019  16                                           

 

                                                                                                                                                       11.   Entire  Agreement.   This  Severance  Agreement  sets  forth  the  entire  agreement  between  the  parties  hereto,  and  fully  supersedes  any  prior  agreements  or  understandings  between the  parties  except  for  the  Applicant’s  Agreement  and  Employee’s  confidentiality obligation therein, signed at hiring, which is incorporated herein by reference.   Employee acknowledges that Employee has not relied on any representations, promises, or  agreements of any kind made to Employee in connection with Employee’s decision to accept  this Severance Agreement, except for those set forth in this Severance Agreement.                            12.   Section  409A.   This  Agreement  is  intended  to  comply  with  Section  409A of the Internal Revenue Code of 1986, as amended (“Section 409A”) or an exemption  thereunder  and  shall  be  construed  and  administered  in  accordance  with  Section  409A.   Notwithstanding  any  other  provision  of  this  Agreement,  payments  provided  under  this  Agreement may only be made upon an event and in a manner that complies with Section 409A  or an applicable exemption, including any payments deemed to be subject to 409A and paid to  a “specified employee” as that term is defined under Section 409A.  Any payments under this  Agreement  that  may  be  excluded  from  Section  409A  either  as  separation  pay  due  to  an  involuntary separation from service or as a short-term deferral shall be excluded from Section  409A  to  the  maximum  extent  possible.   For  purposes  of  Section  409A,  each  installment  payment provided under this Agreement shall be treated as a separate payment.  Any payments  to be made under this Agreement upon a termination of employment shall only be made if such  termination  of  employment  constitutes  a  "separation  from  service"  under  Section  409A.   Notwithstanding the foregoing, the Employer makes no representations that the payments and  benefits provided under this Agreement comply with Section 409A and in no event shall the  Employer be liable for all or any portion of any taxes, penalties, interest or other expenses that  may be incurred by the Executive on account of non-compliance with Section 409A.    EMPLOYEE  HAS  BEEN  ADVISED  THAT  EMPLOYEE  HAS         FORTY-FIVE  (45)  DAYS  TO  CONSIDER  THIS  SEVERANCE  AGREEMENT  AND  IS  ADVISED  TO  CONSULT WITH AN ATTORNEY PRIOR TO EXECUTION OF THIS SEVERANCE  AGREEMENT.   IF  EMPLOYEE  SIGNS  AND  RETURNS  THIS  AGREEMENT  BEFORE  THE  END  OF  THIS  PERIOD,  IT  IS  BECAUSE  EMPLOYEE  FREELY  CHOSE  TO  DO  SO      AFTER  CONSIDERING  ITS  TERMS.  EMPLOYEE  ACKNOWLEDGES THAT THIS AGREEMENT IS WRITTEN IN A MANNER THAT  HE/SHE  UNDERSTANDS.   EMPLOYEE  ALSO  ACKNOWLEDGES  THAT  IN  EXCHANGE  FOR  SIGNING  THIS  AGREEMENT  HE/SHE  WILL  RECEIVE  ADDITIONAL  VALUABLE  CONSIDERATION  IN  ADDITION           TO  THAT  TO  WHICH  HE/SHE  WOULD  OTHERWISE  BE  ENTITLED  AS  AN  EMPLOYEE  OF  THE EMPLOYER.                  EMPLOYEE  AGREES  THAT  ANY  MODIFICATIONS,  MATERIAL  OR  OTHERWISE,  MADE  TO  THIS SEVERANCE  AGREEMENT  DO  NOT  RESTART   Tech Data Corporation – Revised March 2019  17                                           

 

                                                                                                                                         OR  AFFECT  IN  ANY  MANNER  THE       ORIGINAL    FORTY-FIVE  (45)   DAY  CONSIDERATION PERIOD.                HAVING  ELECTED  TO  EXECUTE  THIS  SEVERANCE  AGREEMENT,  TO  FULFILL THE PROMISES SET FORTH HEREIN, AND TO RECEIVE THEREBY  THE SUMS AND BENEFITS SET FORTH IN PARAGRAPH 2 ABOVE, EMPLOYEE  FREELY  AND  KNOWINGLY,  AND  AFTER  DUE  CONSIDERATION,  ENTERS  INTO THIS SEVERANCE AGREEMENT INTENDING TO WAIVE, SETTLE AND  RELEASE  ALL  CLAIMS  EMPLOYEE  HAS  OR  MIGHT  HAVE  AGAINST  EMPLOYER (EXCLUDING CLAIMS THAT MAY NOT BE WAIVED BY LAW).                THIS AGREEMENT IS EXECUTED VOLUNTARILY AND WITHOUT DURESS OR  UNDUE INFLUENCE ON THE PART OF OR ON BEHALF OF EMPLOYEE, OR OF  ANY OTHER PERSON, FIRM, OR OTHER ENTITY.    The parties knowingly and voluntarily sign this Severance Agreement as of the date set forth  below:        By:   ________________________________        Name    ________________________________  Date      Tech Data Corporation      By:   ___________________________            ________________________________  Date          Tech Data Corporation – Revised March 2019  18Exhibit

TECH DATA CORPORATION
(hereinafter called the “Company”)
 
2018 EQUITY INCENTIVE PLAN OF TECH DATA CORPORATION
(hereinafter called the “Plan”)
GLOBAL NOTICE OF GRANT AND RESTRICTED STOCK UNIT GRANT AGREEMENT

I.     NOTICE OF EQUITY GRANT
        
Name/Participant:              

Type of Grant:              Restricted Stock Unit

Date of Grant:                
    
Total Shares Granted:    

II.        AGREEMENT

For valuable consideration, the receipt of which is hereby acknowledged (electronically or using a method accepted by the Company), the Company hereby grants to the Participant a Restricted Stock Unit Grant (hereinafter called the “RSUs”) under Section 9 of the Plan in accordance with the following terms:

Section 1.    Definitions. Unless otherwise defined herein, capitalized terms used in this Agreement shall have the same defined meanings as in the Plan.  In the event of a conflict between the terms and conditions of the Plan and this Agreement, the terms and conditions of the Plan shall prevail except as otherwise expressly provided herein. The following additional terms shall be defined as follows:

“Addendum” means the addendum to this Agreement setting forth any country-specific terms and conditions governing the RSUs based upon the Participant’s country of residence (and country of employment, if different). 

“Agreement” means this agreement between the Participant and the Company setting forth the terms and conditions of the grant of RSUs and includes Part I, Notice of Equity Grant and Part II, Agreement, and any Addendum.

“Cause” means (a) such definition as is set forth in a written employment agreement between the Participant and the Employer, as in effect at the time of determination, for  “Cause” or “gross misconduct” or other term of similar import, or, in the absence of any such definition, (b) (i) the Participant’s willful and continued failure to perform substantially his or her duties with the Employer (other than any such failure resulting from incapacity due to physical or mental illness), or (ii) the Participant’s willful engaging in illegal conduct or gross misconduct that is materially and demonstrably injurious to the Company, its Subsidiaries or the Employer; provided, that for purposes of this definition, no act or failure to act, on the Participant’s part, will be considered “willful” unless it is done, or omitted to be done, by the Participant in bad faith or without reasonable belief that the Participant’s action or omission was in the best interests of the Company or the Employer.  Notwithstanding the foregoing, if a Participant’s employment terminates during the Protected Period (as defined in the CIC Policy) and such Participant is covered by the CIC Policy, for purposes of this Agreement “Cause” will have the definition that applies to the Participant under the CIC Policy.

“CIC Policy” means the Tech Data Corporation Change in Control Severance Policy.

“Date of Grant” means the date on which the RSUs are granted to the Participant, as specified in Part I.

“Employer” means the Company or any Subsidiary that employs the Participant on the applicable date.

“Good Reason” means:

		
	a.
	a material adverse change in the Participant’s duties or responsibilities effectuated after the Change in Control from those held, exercised and/or assigned to the Participant immediately prior to such diminution; provided, that a change in a Participant’s reporting relationship that is approved by the Company or the Employer prior to a Change in Control and is not made at the request of a third party incident to the Change in Control shall not constitute Good Reason hereunder;

		
	b.
	a reduction in the Participant’s annual base salary (or a material change in the frequency of payment) or annual incentive opportunity in effect immediately prior to the Change in Control or, if higher, as in effect at any time during the 24 months following the Change in Control;

		
	c.
	the failure by the Company or the Employer to provide the Participant with welfare benefits, fringe benefits and perquisites that are substantially similar in the aggregate to those made available or provided to the Participant immediately prior to the Change in Control, including but not limited to any pension, life insurance, medical, health and accident, disability and vacation benefits; 

		
	d.
	the relocation of the Participant’s base office to a location that is (x) more than 35 miles from the Participant’s base office immediately prior to the Change in Control and (y) farther from the Participant’s principal residence immediately prior to the Change in Control than was the Participant’s base office immediately prior to the Change in Control; or

		
	e.
	the failure of the Company to obtain a satisfactory agreement from any successor to the Company to assume and agree to perform this Agreement as contemplated hereunder.

Notwithstanding the foregoing, if a Participant’s employment terminates during the Protected Period (as defined in the CIC Policy) and such Participant is covered by the CIC Policy, for purposes of this Agreement “Good Reason” will have the definition that applies to the Participant under the CIC Policy.

“Retirement” means the Participant’s termination of active employment (for reasons other than a termination for Cause by the Employer) where (a) the Participant has attained age 55 (in whole years rounded down to the nearest year) and, (b) the Participant’s Years of Continuous Service equals or exceeds 10.

“Share” means one (1) share of Common Stock.

“Years of Continuous Service” means the number of full years of a Participant’s continuous and uninterrupted employment with the Employer based on the elapsed time between the Participant’s initial employment commencement date with the Employer and the date of the Participant’s termination of employment with the Employer.  For purposes of the foregoing and for the sake of clarity:

(a)       “Years of Continuous Service”  shall include any period of continuous employment with an employer acquired by the Company prior to the time of such acquisition, unless a shorter period of time is established by the Company as recorded in the Company’s systems;

(b)        if a Participant ceases employment with the Employer for a period of less than six (6) months and subsequently re-commences employment with the Employer, the Participant’s Years of Continuous Service shall be calculated on the basis of the Participant’s initial employment commencement date with the Employer, unless a shorter period of time is established by the Company as recorded in the Company’s systems; and

(c)        if a Participant ceases employment with the Employer for a period of six (6) months or more and subsequently re-commences employment with the Employer, the Participant’s Years of Continuous Service shall be calculated on the basis of the Participant’s subsequent employment re-commencement date with the Employer.

Section 2.   Grant.  The Participant is hereby granted an award of RSUs under Section 9(b) of the Plan.  Each RSU represents the prospective contingent right to receive one (1) Share and will, at all times the Agreement is in effect, be equal in value to one (1) Share.  In accordance with Section 9(b) of the Plan, no grant, or a combination of grants, of RSUs to the Participant during a fiscal year shall have a value in excess of five (5) million dollars ($5,000,000), determined using the Fair Market Value of the Shares underlying the RSUs as of the Date of Grant.

Section 3.    Vesting.  Subject to the provisions of the Plan and this Agreement, the RSUs shall vest and become payable in Shares in accordance with the vesting schedule specified on the last page of this agreement.

<Vesting Schedule>

Unless and until the RSUs vest, the Participant will have no right to payment of any unvested RSUs.  Prior to the actual delivery of any of the RSUs that are vested, the RSUs will represent an unsecured obligation of the Company in accordance with Section 16(c) of the Plan.

Section 4.    Non-Transferability.  All rights with respect to the RSUs are exercisable during the Participant’s lifetime only by the Participant and the RSUs may not be transferred, assigned, pledged or hypothecated in any manner other than by will or by applicable laws of descent and distribution, or pursuant to a qualified domestic relations order as defined by the Code or Title I of the Employee Retirement Income Security Act of 1974, as amended, or rules thereunder.  

Section 5.      Delivery of Shares.   Subject to the other terms of the Plan and this Agreement, as soon as reasonably practicable following each vesting date, the Company shall issue or cause to be delivered to the Participant (or if any other individual(s) then hold the RSUs, to such individual(s)) the number of whole Shares the Participant is entitled to receive as a result of the vesting of the RSUs.   The Shares shall be registered in the name of the Participant (or the name(s) of the individual(s) that then hold the RSUs, either alone or jointly with another person(s) with rights of survivorship, as such individual(s) shall prescribe in writing or other methods allowed by the Company), and subject to Section 15 of this Agreement, shall in all cases be delivered to the Participant within thirty-one (31) business days following the applicable Vesting Date.  Notwithstanding the foregoing, the Company may, in its sole discretion, settle the RSUs in the form of: (a) a cash payment to the extent settlement in Shares (1) is prohibited under local law, (2) would require the Participant, the Company or the Employer to obtain the approval of any governmental and/or regulatory body in the Participant’s country of residence (and/or country of employment, if different) or (3) is administratively burdensome; or (b) Shares, but require the Participant to immediately sell such Shares (in which case, the Participant hereby expressly authorizes the Company to issue sales instructions on behalf of the Participant). 

The delivery of Shares upon vesting of the RSUs shall be deemed effected for all purposes when a stock transfer agent shall have deposited such Shares according to the delivery instructions provided by the Participant (or if any other individual(s) then hold the RSUs, by such other individual(s)).  Fractional Shares shall not be issued. 

Section 6.    Tax Withholding Obligations.  Regardless of any action the Company or the Employer takes with respect to any or all income tax, social insurance contributions, payroll tax, payment on account or other tax-related withholding (“Tax-Related Items”), the Participant acknowledges that the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and that the Company and/or the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the RSUs, including but not limited to, the grant of the RSUs, the vesting of the RSUs, the subsequent sale of any Shares acquired at vesting or the receipt of any dividends, and (b) do not commit to structure the terms of the grant or any aspect of the RSUs to reduce or eliminate the Participant’s liability for Tax-Related Items. 

Upon the occurrence of a taxable event associated with the RSUs, the Participant will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all withholding and payment on account obligations of the Company and/or the Employer attributable to Tax-Related Items.  In this regard, if permissible under local law, the Company may withhold a number of whole Shares otherwise deliverable to the Participant having a Fair Market Value sufficient to satisfy the Participant’s estimated total obligation for Tax-Related Items associated with any aspect of the RSUs. If the obligation for the Participant’s Tax-Related Items is satisfied by withholding a number of Shares as described herein, the Participant shall be deemed to have been issued the full number of Shares issuable upon vesting, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax-Related Items due as a result of the vesting or any other aspect of the award. In the event withholding in Shares is prohibited or problematic under applicable law or otherwise may trigger adverse consequences to the Company or the Employer, the Company and/or the Employer may, at its sole discretion, (a) require the Participant to deposit with the Company or the Employer an amount of cash sufficient to meet his or her obligation for Tax-Related Items, (b) withhold the required amount from the Participant’s regular salary/wages during the pay period(s) next following the date on which any such applicable liability for Tax-Related Items otherwise arises (or withhold the required amount from other amounts payable to the Participant), and/or (c) if permissible under local law, sell or arrange for the sale of a whole number of Shares that the Participant acquires pursuant to the RSUs to meet the withholding obligation for Tax-Related Items. The Company will endeavor to sell only the number of whole Shares required to satisfy the Company’s and/or the Employer’s withholding obligation for Tax-Related Items; however, the Participant agrees that the Company may sell more Shares than necessary to cover the Tax-Related Items.
    
Finally, the Participant will pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold as a result of the Participant’s participation in the Plan or the Participant’s acquisition of Shares that cannot be satisfied by the means previously described. The Company may refuse to deliver any Shares due upon vesting of the RSUs if the Participant fails to comply with his or her obligations in connection with the Tax-Related Items as described in this section. If the Participant is subject to taxation in more than one jurisdiction, the Participant acknowledges that the Company, the Employer or another Subsidiary may be required to withhold or account for Tax-Related Items in more than one jurisdiction.  For purposes of the foregoing, the Company may withhold or account for Tax-Related Items by considering applicable statutory withholding amounts or other applicable withholding rates, including maximum applicable rates. The Participant hereby consents to any action reasonably taken by the Company to meet his or her obligation for Tax-Related Items.

Section 7.  Changes in Capitalization.  The existence of the RSUs shall not affect in any way the right or power of the Company or its stockholders to make, authorize or consummate (a) any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business; (b) any merger or consolidation of the Company; (c) any issue by the Company of debt securities, or preferred or preference stock that would rank above the shares subject to RSUs; (d) the dissolution or liquidation of the Company; (e) any sale, transfer or outstanding assignment of all or any part of the assets or business of the Company; or (f) any other corporate act or proceeding, whether of a similar character or otherwise.

Except as otherwise expressly provided herein, the issuance by the Company of Shares of any class, or securities convertible into Shares of any class, either in connection with direct sale or upon the exercise of rights or warrants to subscribe therefore, or upon conversion of Shares or obligations of the Company convertible into such shares or other securities, shall not affect, and no adjustment by reason thereof shall be made with respect to the number of Shares subject to the RSUs.

Section 8.  Rights of Participant.  No person shall, by virtue of the granting of the RSUs to the Participant, be deemed to be a holder of any Shares underlying the RSUs or be entitled to the rights or privileges of a holder of such Shares unless and until the RSUs have vested with respect to such Shares and the Shares have been issued pursuant to the vesting of the RSUs.

At all times while any portion of the RSUs is outstanding, the Company shall reserve and keep available, out of shares of its authorized and unissued Common Stock or reacquired Shares, a sufficient number of Shares to satisfy the requirements of the RSUs; comply with the terms of the RSUs promptly upon vesting of the RSUs; and pay all fees or expenses necessarily incurred by the Company in connection with the issuance and delivery of Shares pursuant to the vesting of the RSUs.

Section 9.  Termination.  Subject to Section 10, the outstanding unvested RSUs granted hereunder shall terminate and the Participant shall cease vesting in the RSUs on the earliest to occur of:

(a)  termination of active employment or other relationship between the Employer and the Participant for any reason other than due to the Participant’s death, Retirement or Disability; or 

(b)  termination of active employment or other relationship between the Employer and the Participant due to the Participant’s death or Disability within three (3) months of the Date of Grant or Retirement within one (1) year of the Date of Grant. 

An employment relationship between the Employer and the Participant shall be deemed to exist during any period during which the Participant is actively employed and performing services for the Employer.  Whether authorized leave of absence or absence on military government service shall constitute termination of the employment relationship between the Employer and the Participant shall be determined, in good faith, by the administrator designated by the Committee, in its sole discretion, at the time thereof and in accordance with local law. 

In the event of the Participant’s termination of active employment due to death or Disability at least three (3) months after the Date of Grant, the RSUs shall become fully vested (all or a portion of the outstanding RSUs) as of the date of the Participant’s termination of active employment.  In the case of death of a Participant, any Shares due upon vesting will be delivered to the Participant’s executors, administrators or any person(s) to whom the RSUs may be transferred by will or by laws of descent and distribution, in accordance with Section 5 of this Agreement.  If, in the event of the Participant’s death, any beneficiary entitled to receive any Shares due upon vesting is a minor or, if in the event of the Participant’s Disability, the Participant is deemed by the Committee or is adjudged to be legally incapable of giving valid receipt and discharge for any Shares due upon vesting, such Shares will be paid to such person or institution as the Committee may designate, in its sole discretion, or to the duly appointed guardian.  Such payment shall, to the extent made, be deemed a complete discharge of any liability for such payment under the Plan.

In the event of the Participant’s termination of active employment due to Retirement on or after the first (1st) anniversary of the Grant Date, any unvested RSUs immediately shall vest in full and Shares shall be issued to the Participant pursuant to Section 5. In the event that the Participant’s Retirement occurs prior to the first (1st) anniversary of the Grant Date, all unvested RSUs immediately shall terminate and be forfeited in their entirety.  

If the Participant is a local national of and employed in a country that is a member of the European Union, the grant of the RSUs and the terms and conditions governing the RSUs are intended to comply with the age discrimination provisions of the EU Equal Treatment Framework Directive, as implemented into local law (the “Age Discrimination Rules”).  To the extent that a court or tribunal of competent jurisdiction determines that any provision of the RSUs is invalid or unenforceable, in whole or in part, under the Age Discrimination Rules, the Company, in its sole discretion, shall have the power and authority to revise or strike such provision to the minimum extent necessary to make it valid and enforceable to the full extent permitted under local law.

Section 10.    Change in Control.  Notwithstanding anything in this Agreement to the contrary, if, within 24 months of the effective date of a Change in Control, the Participant’s active employment is terminated by the Employer without Cause or if the Participant resigns employment for Good Reason, the RSUs immediately shall vest in full as of such termination and the vested RSUs shall be settled in accordance with Section 5 of this Agreement.  In addition, in the event of a Change in Control in which the RSUs are not assumed, continued, or substituted by the surviving corporation, such RSUs shall immediately vest in full as of the effective date of such Change in Control and the vested RSUs shall be settled in accordance with Section 5 of this Agreement.

Section 11.  Nature of Grant.  In accepting the grant, the Participant acknowledges that:

(a) the Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;

(b) the grant of RSUs is voluntary and occasional and does not create any contractual or other right to receive future grants of RSUs, or benefits in lieu of RSUs, even if RSUs or other awards have been granted in the past;

(c) all decisions with respect to future grants of RSUs, if any, will be at the sole discretion of the Company; 

(d) the Participant is voluntarily participating in the Plan; 

(e) the grant of RSUs is an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or the Employer, and which is outside the scope of the Participant’s employment with the Employer; 

(f) the RSUs and the Participant’s participation in the Plan shall not create a right to employment or be interpreted as forming an employment contract with the Company or any Subsidiary and shall not interfere with the ability of the Employer to terminate the Participant’s employment relationship (as otherwise may be permitted under local law); 

         (g) the grant of RSUs is not part of normal or expected compensation or salary for any purpose, including, but not limited to, calculating any severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or the Employer; 

(h)  in the event that the Participant is not an employee of the Company, the grant of RSUs will not be interpreted to form an employment contract or relationship with the Company; and furthermore, the grant of RSUs will not be interpreted to form an employment contract with the Employer or any Subsidiary or affiliated company of the Company; 

(i) the future value of the underlying Shares is unknown and cannot be predicted with certainty; 

(j) neither the Company, the Employer or any Subsidiary shall be liable for any foreign exchange rate fluctuation, where applicable, between the Participant’s local currency and the United States dollar that may affect the value of the RSUs or of any amounts due to the Participant pursuant to the settlement of the RSUs or the subsequent sale of any Shares acquired upon settlement;

(k) if the Participant vests in his or her RSUs and obtains Shares, the value of those Shares acquired may increase or decrease in value; 

(l)  no claim or entitlement to compensation or damages shall arise from forfeiture of the RSUs resulting from termination of the Participant’s active employment (for any reason whatsoever and whether or not in breach of local labor laws or later found invalid) and, in consideration of the RSUs, the Participant agrees not to institute such a claim against the Company or the Employer;

(m) in the event of termination of the Participant’s employment (whether or not in breach of local labor laws), the Participant’s right to receive the RSUs and vest in the RSUs under the Plan, if any, will be determined effective as of the date that the Participant is no longer actively employed by the Employer; the Committee shall have the exclusive discretion to determine, in good faith, when the Participant is no longer actively employed for purposes of the grant of RSUs; and 

(n) the RSUs and the benefits evidenced by this Agreement do not create any entitlement not otherwise specifically provided for in the Plan or provided by the Company in its discretion, to have the RSUs or any such benefits transferred to, or assumed by, another company, nor to be exchanged, cashed out or substituted for, in connection with any corporate transaction affecting the Shares. 

Section 12.  Data Privacy.  The Company is located at 5350 Tech Data Drive, Clearwater, Florida 33760, U.S.A. and grants RSUs under the Plan to employees of the Company and its Subsidiaries in its sole discretion. In conjunction with the Company’s grant of RSUs under the Plan and its ongoing administration of such awards, the Company is providing the following information about its data collection, processing and transfer practices (“Personal Data Activities”). The legal basis for the Personal Data Activities is the Company’s legitimate business interest for implementing, administering and managing the Plan and generally administering equity awards. In those jurisdictions where the Participant’s consent to the Personal Data Activities is required, the Participant expressly and explicitly consents to the Personal Data Activities as described herein.  

(a)Data Collection and Usage. The Participant is hereby notified that the Company collects, processes and uses certain personally-identifiable information about the Participant, specifically: the Participant’s name, home address, email address, and telephone number, date of birth, social insurance number or other identification number, salary, citizenship, job title, any Shares or directorships held in the Company, and details of all RSUs or any other awards granted, canceled, exercised, vested, or outstanding in the Participant’s favor, which the Company receives from the Participant or the Employer (collectively, “personal data”). In granting the Participant RSUs under the Plan, the Company will collect the Participant’s personal data for purposes of allocating Shares and implementing, administering and managing the Plan. The Company’s collection, processing and use of the Participant’s personal data is necessary for the performance of the Company’s contractual obligations under the Plan. The legal basis for the Personal Data Activities is the Company’s legitimate business interest for implementing, administering and managing the Plan and generally administering equity awards. In those jurisdictions where the Participant’s consent to the Personal Data Activities is required, the Participant expressly and explicitly consents to the Personal Data Activities as described herein. 

(b)Stock Plan Administration Service Provider. The Company transfers the Participant’s data to Fidelity Stock Plan Services LLC, an independent service provider based in the United States, which assists the Company with the implementation, administration and management of the Plan.  In the future, the Company may select a different service provider and share the Participant’s data with another company that serves in a similar manner.  The Company’s service provider will open an account for the Participant to receive and trade Shares. The Participant will be asked to agree to separate terms and data processing practices with the service provider, which is a condition to the Participant’s ability to participate in the Plan.

(c)International Data Transfers. The Company and its service providers are based in the United States.  The Company can only meet its contractual obligations to the Participant if the Participant’s personal data is transferred to the United States.  The Participant should note that the Participant’s country of residence may have enacted data privacy laws that are different from the United States. When transferring the Participant’s personal data to the United States, the Company provides appropriate safeguards, such as the EU Standard Contractual Clauses or other adequate agreements.  

(d)Data Retention. The Company will use the Participant’s personal data only as long as is necessary to implement, administer and manage the Participant’s participation in the Plan or as required to comply with legal or regulatory obligations, including under tax and security laws.  When the Company no longer needs the Participant’s personal data, the Company will remove it from its systems.  If the Company keeps the Participant’s data longer, it would be to satisfy legal or regulatory obligations and the Company’s legal basis would be compliance with relevant laws or regulations.

(e)Voluntariness and Consequences of Consent Denial or Withdrawal. The Participant’s participation in the Plan and the Participant’s grant of consent, if required, is purely voluntary. The Participant may reject participation in the Plan or withdraw the Participant’s consent, if applicable, at any time. If the Participant rejects participation in the Plan, does not consent, if applicable, or withdraws the Participant’s consent, if applicable, the Participant may be unable to participate in the Plan. This would not affect the Participant’s existing employment or salary; instead, the Participant merely may forfeit the opportunities associated with the Plan.

(f)Data Subjects Rights. The Participant may have certain rights under the data privacy laws in the Participant’s country of residence. For example, the Participant’s rights may include the right to (i) request access or copies of personal data the Company processes, (ii) request rectification of incorrect data, (iii) request deletion of data, (iv) place restrictions on processing, (v) lodge complaints with competent authorities in the Participant’s country, and/or (vi) request a list with the names and addresses of any potential recipients of the Participant’s personal data.  To receive clarification regarding the Participant’s rights or to exercise the Participant’s rights, the Participant should contact the Employer’s Human Resources manager or the Company’s Human Resources Department.

Section 13.  No Compensation Deferrals.  Neither the Plan nor this Agreement is intended to provide for an elective deferral of compensation that would be subject to Section 409A of the Code (“Section 409A”).  Instead, it is the intent of this Agreement to satisfy the short-term deferral exemption described in Treas. Reg. §1.409A-1(b)(4).  The Company reserves the right, to the extent the Company deems necessary or advisable in its sole discretion, to unilaterally amend or modify the Plan and/or this Agreement to ensure that no grants (including without limitation, the RSUs) become subject to Section 409A; provided, however, the Company makes no representation that the RSUs are not subject to Section 409A nor makes any undertaking to preclude Section 409A from applying to the RSUs.  

Section 14.  Electronic Delivery and Acceptance.  The Company may in its sole discretion, decide to deliver any documents related to the RSUs granted under the Plan and participation in the Plan, or future RSUs that may be granted under the Plan, by electronic means or to request the Participant’s consent to participate in the Plan by electronic means.  The Participant hereby consents to receive such documents by electronic delivery and, if requested, to participate in the Plan through an on-line (and/or voice activated) system established and maintained by the Company or a third party designated by the Company.  In addition, if the Participant does not otherwise reject the RSUs, (in such manner as the Company may specify from time to time in its sole discretion), the Participant shall be deemed to have accepted the RSUs as of the Date of Grant.  

Section 15.  Government and Other Regulations; Governing Law.  The grant of RSUs is subject to all laws, regulations and orders of any governmental authority which may be applicable thereto and, notwithstanding any of the provisions hereof, the Participant acknowledges that the Company will not be obligated to issue any Shares hereunder if the grant or vesting thereof or the issuance of such Shares, as the case may be, would constitute a violation by the Participant or the Company of any such law, regulation or order or any provision thereof.  The Company shall not be obligated to take any affirmative action in order to cause the vesting of the RSUs or the issuance of Shares pursuant hereto to comply with any such law, regulation, order or provision. Any issuance or delivery of Shares hereunder shall occur at the earliest date the Company reasonably anticipates that the distribution shall not cause a violation. 

As a condition of the grant of the RSUs, the Participant agrees to repatriate all payments attributable to the Shares and/or cash acquired under the Plan (including, but not limited to, dividends) in accordance with local foreign exchange rules and regulations in the Participant’s country of residence (and country of employment, if different).  In addition, the Participant also agrees to take any and all actions, and consent to any and all actions taken by the Company and its Subsidiaries, as may be required to allow the Company and its Subsidiaries to comply with local laws, rules and regulations in the Participant’s country of residence (and country of employment, if different).  Finally, the Participant agrees to take any and all actions as may be required to comply with the Participant’s personal obligations under local laws, rules and regulations in the Participant’s country of residence.
The RSUs are and shall be subject in every respect to the provisions of the Plan, which is incorporated herein by reference and made a part hereof.  The Participant hereby accepts the RSUs subject to all the terms and provisions of the Plan and agrees that all decisions under and interpretations of the Plan by the Committee or the Board shall be final, binding and conclusive upon the Participant and his heirs and legal representatives.

This grant of RSUs shall be governed by and construed in accordance with the laws of the State of Florida without regard to its principle of conflict of laws.  For purposes of litigating any dispute arising under this Agreement, the parties hereby expressly consent and agree that such litigation shall be conducted in the courts of Pinellas County, Florida.

Section 16.  Severability.  The provisions of this Agreement are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable.

Section 17.  Language.  If the Participant is a resident outside of the United States, the Participant acknowledges and agrees by acceptance of the grant of RSUs under the Plan and this Agreement, that it is the Participant’s express intent that this Agreement, the Plan and all other documents, notices and legal proceedings entered into, given or instituted pursuant to the grant of the RSUs, be drawn up in English.  If the Participant has received this Agreement, the Plan or any other documents related to the RSUs translated into a language other than English, and if the meaning of the translated version is different than the English version, the English version will control.

Section 18.  Private Placement.  For Participants residing and/or employed outside of the United States, the grant of the RSUs is not intended to be a public offering of securities in the Participant’s country of residence (and country of employment, if different).  The Company has not submitted any registration statement, prospectus or other filings with the local securities authorities (unless otherwise required under local law), and the grant of the RSUs is not subject to the supervision of the local securities authorities.

Section 19.  Insider Trading / Market Abuse Laws. By participating in the Plan, the Participant agrees to comply with the Company’s policy on insider trading. The Participant further acknowledges that, depending on the Participant’s or the Participant’s broker’s country of residence or where the Shares are listed, the Participant may be subject to insider trading restrictions and/or market abuse laws that may affect the Participant’s ability to accept, acquire, sell or otherwise dispose of Shares, rights to Shares (e.g., RSUs) or rights linked to the value of Shares, during such times the Participant is considered to have “inside information” regarding the Company as defined by the laws or regulations in the Participant’s country of residence (and country of employment, if different). Local insider trading laws and regulations may prohibit the cancellation or amendment of orders the Participant places before he or she possessed inside information. Furthermore, the Participant could be prohibited from (a) disclosing the inside information to any third party (other than on a “need to know” basis) and (b) “tipping” third parties or causing them otherwise to buy or sell securities. The Participant understands that third parties include fellow employees. Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under any applicable Company insider trading policy. The Participant acknowledges that it is the Participant’s personal responsibility to comply with any applicable restrictions, and that the Participant should consult the Participant’s personal advisor on this matter. 

Section 20.    Clawback. Notwithstanding anything in the Plan or this Agreement to the contrary, the Company may be entitled or required by law, any applicable Company policy (any such policy, a “Clawback Policy”) or the requirements of an exchange on which the Company’s shares are listed for trading, to recoup amounts received by a Participant in connection with or arising out of the RSUs granted pursuant to this Agreement (including with respect to the initial grant of the RSUs, any Shares acquired pursuant thereto and any amounts received with respect to any sale of the Shares), and each Participant selected to receive RSUs under the Plan shall be deemed to have agreed to comply with any such Company request or demand for recoupment, and to have consented to the Company taking such actions as may be necessary to effectuate its Clawback Policy.  Each Participant shall also be deemed to have acknowledged and agreed that the Clawback Policy may be modified from time to time in the sole discretion of the Company and without the consent of the Participant, and that such modification will be deemed to amend this Agreement; provided, that, except as otherwise required by applicable law (including the terms of any exchange on which the Company’s shares are then listed for trading), no such amendment or modification made following a Change in Control shall be effective without the express, prior written consent of the Participant. 

Section 21.  Addendum.  Notwithstanding any provisions of this Agreement to the contrary, the RSUs shall also be subject to the Addendum.  Further, if the Participant transfers residence and/or employment to another country reflected in the Addendum, the special terms and conditions for such country shall apply to the Participant to the extent the Company determines, in its sole discretion, that the application of such terms and conditions is necessary or advisable in order to comply with local laws, rules and regulations or to facilitate the operation and administration of the RSUs and the Plan (or the Company may establish alternative terms and conditions as may be necessary or advisable to accommodate the Participant’s transfer).  The Addendum shall constitute part of the Agreement.

Section 22.  Additional Requirements.  The Company reserves the right to impose other requirements on the RSUs, any Shares acquired pursuant to the RSUs and the Participant’s participation in the Plan to the extent the Company determines, in its sole discretion, that such other requirements are necessary or advisable in order to comply with local laws, rules and regulations or to facilitate the operation and administration of the RSUs and the Plan.  Such requirements may include (but are not limited to) requiring the Participant to sign any agreements or undertakings that may be necessary to accomplish the foregoing.
    
IN WITNESS WHEREOF, the Company has caused this grant of RSUs to be executed, as of the Date of Grant.

TECH DATA CORPORATION

                
      By:__________________________________
      Richard T. Hume, Chief Executive Officer
   

                                                       
     By:_______________________________________
     Holder

TECH DATA CORPORATION 
2018 EQUITY INCENTIVE PLAN  
OF TECH DATA CORPORATION

ADDENDUM TO 
GLOBAL NOTICE OF GRANT AND RESTRICTED 
STOCK UNIT GRANT AGREEMENT

NON-U.S. EMPLOYEES
________________________________________________________________________

 
In addition to the terms of the 2018 Equity Incentive Plan of Tech Data Corporation (the “Plan”) and the Global Notice of Grant and Restricted Stock Unit Grant Agreement
 (the “Agreement”), the RSUs are subject to the following additional terms and conditions as set forth in this addendum (the “Addendum”). All defined terms as contained in this Addendum shall have the same meaning as set forth in the Plan and the Agreement.  Pursuant to Section 21 of the Agreement, to the extent a Participant relocates residence and/or employment to another country, the additional terms and conditions as set forth in the addendum for such country (if any) shall also apply to the RSUs to the extent the Company determines, in its sole discretion, that the application of such addendum is necessary or advisable in order to comply with local laws, rules and regulations, or to facilitate the operation and administration of the RSUs and the Plan (or the Company may establish alternative terms and conditions as may be necessary or advisable to accommodate the Participant’s transfer).

*    *    *    *    *

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