Document:

EMPLOYMENT AGREEMENT - KEVIN ENGLISH

 Exhibit 10.16 
  
 Level 3 Officer Agreement 
  
 EMPLOYMENT AGREEMENT 
  
 THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into this 1st day of April, 2004 by and between PSS World Medical, Inc., a Florida corporation (hereinafter, the “Company” which term shall include the
Company’s other subsidiaries, affiliates and successors), and Kevin P. English (hereinafter, “Executive”). 
  
 BACKGROUND 
  
 The Company desires to engage Executive in the executive capacities set forth herein, in accordance with the terms and conditions of this Agreement.
Executive is willing to serve as such in accordance with the terms and conditions of this Agreement. 
  
 NOW THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements set forth herein, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  
 1. Effective Date. This Agreement is effective as of April 1, 2004 (the “Effective Date”). 
  
 2. Employment. Executive is currently employed as the Vice President
of Finance of PSS World Medical, Inc. The purpose of this Agreement is to set forth the terms of Executive’s employment. Executive’s responsibilities under this Agreement shall be in accordance with the policies and objectives established
by the Chief Executive Officer or the Board of Directors of the Company (the “Board”) and shall be consistent with the responsibilities of similarly situated executives of comparable companies in similar lines of business. 
  
 3. Employment Period. Unless earlier terminated herein in accordance
with Section 7 hereof, Executive’s employment shall be for a two-year term (the “Employment Period”), beginning on the Effective Date. The Employment Period shall, without further action by Executive or the Company, be extended by an
additional one-year period on each anniversary of the Effective Date; provided, however, that either party may, by notice to the other, cause the Employment Period to cease to extend automatically. Upon such notice, the Employment Period
shall terminate upon the expiration of the then-current term, including any prior extensions. Notwithstanding the foregoing, if a Change in Control occurs the Employment Period shall be automatically extended through the later of (i) the second
anniversary of the Change in Control, or (ii) the normal expiration of the then-current term, including any prior extensions. 

 4. Extent of Service. During the Employment Period, and excluding any periods of vacation and sick
leave to which Executive is entitled, Executive agrees to devote his business time, attention, skill and efforts exclusively to the faithful performance of his duties hereunder; provided, however, that it shall not be a violation of this
Agreement for Executive to (i) devote reasonable periods of time to charitable and community activities and, with the approval of the Company, industry or professional activities, and/or (ii) manage personal business interests and investments, so
long as such activities do not materially interfere with the performance of Executive’s responsibilities under this Agreement. 
  
 5. Compensation and Benefits. 
  
 (a) Base Salary. During the Employment Period, the Company will pay to Executive a base salary in an amount not less than that in effect for
Executive on the Effective Date (“Base Salary”), less normal withholdings, payable in equal monthly or more frequent installments as are customary under the Company’s payroll practices from time to time. The Compensation Committee of
the Board shall review Executive’s Base Salary annually and in its sole discretion, subject to approval of the Board, may increase Executive’s Base Salary from year to year. The annual review of Executive’s salary by the Board will
consider, among other things, Executive’s own performance and the Company’s performance. 
  
 (b) Incentive, Savings and Retirement Plans. During the Employment Period, Executive shall be entitled to participate in all incentive, savings and
retirement plans, practices, policies and programs applicable generally to level 3 officers of the Company and its affiliated companies (“Peer Executives”), and on the same basis as such Peer Executives. 
  
 (c) Welfare Benefit Plans. During the Employment Period, Executive and
Executive’s family shall be eligible for participation in and shall receive all benefits under welfare benefit plans, practices, policies and programs provided by the Company and its affiliated companies (including, without limitation, medical,
prescription, dental, disability, employee life, group life, accidental death and travel accident insurance plans and programs) to the extent applicable generally to Peer Executives. 
  
 (d) Expenses. During the Employment Period, Executive shall be entitled to receive prompt reimbursement for all
reasonable expenses incurred by Executive in accordance with the policies, practices and procedures of the Company and its affiliated companies to the extent applicable generally to Peer Executives. 
  
 (e) Fringe Benefits. During the Employment Period, Executive shall be
entitled to fringe benefits in accordance with the plans, practices, programs and policies of the Company and its affiliated companies in effect for Peer Executives. 
  

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 6. Change in Control. A “Change in Control” shall mean: 
  
 (a) The acquisition by any individual, entity or group (within the meaning
of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of either (i) 25%
or more of the then outstanding shares of common stock of the Company (“Company Common Stock”), or (ii) securities of the Company representing 25% or more of the combined voting power of the then outstanding securities of the Company
eligible to vote for the election of directors (the “Company Voting Securities”); provided, however, that for purposes of this subsection (a), the following acquisitions shall not constitute a Change in Control: (w) an acquisition
directly from the Company, (x) an acquisition by the Company or any corporation controlled by the Company, (y) an acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the
Company, or (z) any acquisition pursuant to a Non-Qualifying Transaction (as defined in subsection (c) of this definition); or 
  
 (b) Individuals who, as of the Effective Date, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a
majority of the Board; provided, however, that any individual becoming a director subsequent to the Effective Date whose election, or nomination for election by the Company’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, provided, however, that no individual initially elected or nominated as a director of the Company as a
result of an actual or threatened election contest with respect to the election or removal of directors (“Election Contest”) or other actual or threatened solicitation of proxies or consents by or on behalf of any Person other than the
Board (“Proxy Contest”), including by reason of any agreement intended to avoid or settle any Election Contest or Proxy Contest, shall be deemed an Incumbent Director; or 
  
 (c) Consummation of a reorganization, merger or consolidation, statutory share exchange or similar form of corporate
transaction involving the Company or a corporation controlled by the Company, or the sale or other disposition of all or substantially all of the Company’s assets, or the acquisition by the Company of assets or stock of another corporation (any
of such transactions, a “Business Transaction”), unless immediately following such Business Transaction, all of the following are true: (i) all or substantially all of the individuals and entities who were the beneficial owners,
respectively, of the outstanding Company Common Stock and outstanding Company Voting Securities immediately prior to such Business Transaction beneficially own, directly or indirectly, more than 60% of, respectively, 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 Transaction (including, without
limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries, the 
  

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 “Surviving Corporation”) in substantially the same proportions as their ownership, immediately prior to such
Business Transaction of the outstanding Company Common Stock and outstanding Company Voting Securities, as the case may be, and (ii) no Person (other than (x) the Company or any subsidiary of the Company, (y) the Surviving Corporation or its
ultimate parent corporation, or (z) any employee benefit plan (or related trust) sponsored or maintained by any of the foregoing) beneficially owns, directly or indirectly, 25% or more of the total common stock of the Surviving Corporation or 25% or
more of the combined voting power of the then outstanding voting securities eligible to elect directors of the Surviving Corporation, except to the extent that such ownership existed prior to the Business Transaction, and (iii) at least a majority
of the members of the board of directors of the Surviving Corporation were members of the Incumbent Board at the time of the Board approval of the execution of the initial agreement providing for such Business Transaction (any Business Transaction
which satisfies all of the criteria specified in (i), (ii) and (iii) above shall be deemed to be a “Non-Qualifying Transaction”). 
  
 7. Termination of Employment. 
  
 (a) Death, Retirement or Disability. Executive’s employment shall terminate automatically upon Executive’s death or Retirement during the
Employment Period. For purposes of this Agreement, “Retirement” shall mean normal retirement as defined in the Company’s then-current retirement plan, or if there is no such retirement plan, “Retirement” shall mean voluntary
termination after age 65 with ten years of service. If the Company determines in good faith that the Disability of Executive has occurred during the Employment Period (pursuant to the definition of Disability set forth below), it may give Executive
written notice in accordance with Section 15(f) of this Agreement of its intention to terminate Executive’s employment. In such event, Executive’s employment with the Company shall terminate effective on the 30th day after receipt of such
written notice by Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, Executive shall not have returned to full-time performance of Executive’s duties. For purposes of this Agreement,
“Disability” shall mean a mental or physical disability as determined by the Board in accordance with standards and procedures similar to those under the Company’s employee long-term disability plan, if any. At any time that the
Company does not maintain such a long-term disability plan, Disability shall mean the inability of Executive, as determined by the Board, to perform the essential functions of his regular duties and responsibilities (with or without reasonable
accommodation) due to a medically determinable physical or mental illness which has lasted (or can reasonably be expected to last) for a period of six consecutive months. 
  
 (b) Termination by the Company. The Company may terminate Executive’s employment during the Employment Period
with or without Cause. For purposes of this Agreement, “Cause” shall mean: 
  
 (i) the willful and continued failure of Executive to perform 
  

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 substantially Executive’s duties with the Company (other than any such failure resulting from incapacity due to
physical or mental illness, and specifically excluding any failure by Executive, after reasonable efforts, to meet performance expectations), after a written demand for substantial performance is delivered to Executive by the Board which
specifically identifies the manner in which the Board believes that Executive has not substantially performed Executive’s duties, or 
  
 (ii) the willful engaging by Executive in illegal conduct or gross misconduct which is materially and demonstrably injurious to the Company. 

 
 For purposes of this provision, no act or failure to act, on the part of
Executive, shall be considered “willful” unless it is done, or omitted to be done, by Executive in bad faith or without reasonable belief that Executive’s action or omission was in the best interests of the Company. Any act, or
failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or based upon the advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by Executive in good faith and in the
best interests of the Company. The cessation of employment of Executive shall not be deemed to be for Cause unless and until there shall have been delivered to Executive a copy of a resolution duly adopted by the affirmative vote of not less than a
majority of the entire membership of the Board (excluding Executive if Executive is a director) at a meeting of the Board called and held for such purpose (after reasonable notice is provided to Executive and Executive is given an opportunity,
together with counsel, to be heard before the Board), finding that, in the good faith opinion of the Board, Executive is guilty of the conduct described in subparagraph (i) or (ii) above, and specifying the particulars thereof in detail. 

 
 (c) Termination by Executive. Executive’s employment may be
terminated by Executive for Good Reason or no reason. For purposes of this Agreement, “Good Reason” shall mean: 
  
 (i) without the written consent of Executive, the assignment to Executive of any duties materially inconsistent with Executive’s position (including
status, offices, titles and reporting requirements), authority, duties or responsibilities as in effect on the Effective Date, or any other action by the Company which results in a material diminution in such position, authority, duties or
responsibilities, excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith and which is remedied by the Company promptly after receipt of notice thereof given by Executive; 
  
 (ii) a reduction by the Company in Executive’s Base Salary and benefits
as in effect on the Effective Date or as the same may be increased from time to time, unless a similar reduction is made in salary and benefits of Peer Executives generally; 
  
 (iii) after the occurrence of a Change in Control, the Company’s 
  

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 requiring Executive to be based at any office or location other than in the greater Jacksonville, Florida metropolitan
area or the Company’s requiring Executive to travel on Company business to a substantially greater extent than required immediately prior to the Effective Date; or 
  
 (iv) any failure by the Company to comply with and satisfy Section 14(b) of this Agreement. 
  
 (d) Notice of Termination. Any termination by the Company for Cause,
or by Executive for Good Reason, shall be communicated by Notice of Termination to the other party hereto given in accordance with Section 15(f) of this Agreement. For purposes of this Agreement, a “Notice of Termination” means a written
notice that (i) indicates the specific termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive’s
employment under the provision so indicated, and (iii) if the Date of Termination (as defined below) is other than the date of receipt of such notice, specifies the termination date (which date shall be not more than 30 days after the giving of such
notice). The failure by Executive or the Company to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Good Reason or Cause shall not waive any right of Executive or the Company, respectively, hereunder
or preclude Executive or the Company, respectively, from asserting such fact or circumstance in enforcing Executive’s or the Company’s rights hereunder. 
  
 (e) Date of Termination. “Date of Termination” means (i) if Executive’s employment is terminated by
the Company for Cause, or by Executive for Good Reason, the date of receipt of the Notice of Termination or any later date specified therein (which date shall be not more than 30 days after the giving of such notice), as the case may be, (ii) if
Executive’s employment is terminated by the Company other than for Cause or Disability, the Date of Termination shall be the date on which the Company notifies Executive of such termination or any later date specified in the Notice of
Termination (which date shall be not more than 30 days after the giving of such notice), and (iii) if Executive’s employment is terminated by reason of death, Retirement or Disability, the Date of Termination shall be the date of death or
Retirement of Executive or the Disability Effective Date, as the case may be. 
  
 8. Obligations of the Company upon Termination. 
  
 (a) Termination by Executive for Good Reason; Termination by the Company Other Than for Cause, Death or Disability. If, during the Employment Period, the Company shall terminate Executive’s employment
other than for Cause, death or Disability, or Executive shall terminate employment for Good Reason within a period of 30 days after the occurrence of the event giving rise to Good Reason, then in consideration of Executive’s services rendered
prior to such termination and as reasonable compensation for his compliance with the Restrictive Covenants in Section 13 hereof, 
  

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 and, with respect to the payments and benefits described in clauses (i)(B) and (ii) below, only if Executive executes a
Release in substantially the form of Exhibit A hereto (the “Release”): 
  
 (i) the Company shall pay to Executive in a lump sum in cash within 30 days after the Date of Termination or, with respect to the prorata bonus described in clause A(2) below, within 30 days after the determination of
the bonus amount, the aggregate of the following amounts: 
  
 A. the sum of (1) Executive’s Base Salary through the Date of Termination to the extent not theretofore paid, (2) if the Date of Termination occurs after or in connection with the occurrence of a Change in
Control, the product of (x) Executive’s annual bonus that would have been payable with respect to the fiscal year in which the Date of Termination occurs (determined at the end of such year based on actual performance results through the end of
such year) and (y) a fraction, the numerator of which is the number of days in the current fiscal year through the Date of Termination, and the denominator of which is 365, and (3) any accrued vacation pay, to the extent not theretofore paid (the
sum of the amounts described in clauses (1), (2) and (3) shall be hereinafter referred to as the “Accrued Obligations”); and 
  
 B. the amount equal to three-quarters (0.75) times the sum of (1) Executive’s annual Base Salary in effect as of the Date of
Termination, and (2) Executive’s target annual bonus for the year in which the Date of Termination occurs (“Target Bonus”) (such amount is referred to as the “Severance Payment”); provided, however, that if the Date
of Termination occurs after or in connection with the occurrence of a Change in Control, the Severance Payment shall be the amount equal to one and one-half (1.5) times the sum of (1) Executive’s annual Base Salary in effect as of the Date of
Termination, and (2) Executive’s Target Bonus; and 
  
 (ii)
for nine months after Executive’s Date of Termination (or eighteen months in the event that the Date of Termination occurs after or in connection with the occurrence of a Change in Control), or such longer period as may be provided by the terms
of the appropriate plan, program, practice or policy, the Company shall continue benefits to Executive and/or Executive’s family at least equal to those which would have been provided to them in accordance with the welfare plans, programs,
practices and policies described in Section 5(c) of this Agreement if Executive’s employment had not been terminated or, if more favorable to Executive, as in effect generally at any time thereafter with respect to Peer Executives and their
families, provided, however, that if Executive becomes re-employed with another employer and is eligible to receive medical or other welfare benefits under another employer provided plan, the medical and other welfare benefits described
herein shall be secondary to those provided under such other plan during such applicable period of eligibility (“Welfare Benefits”); and 
  

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 (iii) the Company shall, within 30 days of receipt of reasonably documented invoices therefor, reimburse
Executive’s actual cost (not to exceed $15,000) for outplacement expenses incurred within one year after the Date of Termination; and 
  
 (iv) to the extent not theretofore paid or provided, the Company shall timely pay or provide to Executive any other amounts or benefits required to be
paid or provided or which Executive is eligible to receive under any plan, program, policy or practice or contract or agreement of the Company and its affiliated companies (such other amounts and benefits shall be hereinafter referred to as the
“Other Benefits”). 
  
 (b) Death. If
Executive’s employment is terminated by reason of Executive’s death during the Employment Period, this Agreement shall terminate without further obligations to Executive’s legal representatives under this Agreement, other than for
payment of Accrued Obligations (excluding the pro-rata bonus described in clause 2 of Section 8(a)(i)(A)) and the timely payment or provision of Other Benefits. Accrued Obligations shall be paid to Executive’s estate or beneficiary, as
applicable, in a lump sum in cash within 30 days of the Date of Termination. With respect to the provision of Other Benefits, the term Other Benefits as used in this Section 8(b) shall include, without limitation, and Executive’s estate and/or
beneficiaries shall be entitled to receive, benefits under such plans, programs, practices and policies relating to death benefits, if any, as applicable to Executive on the Date of Termination. 
  
 (c) Disability. If Executive’s employment is terminated by reason
of Executive’s Disability during the Employment Period, this Agreement shall terminate without further obligations to Executive, other than for payment of Accrued Obligations (excluding the pro-rata bonus described in clause 2 of Section
8(a)(i)(A)) and the timely payment or provision of Other Benefits. Accrued Obligations shall be paid to Executive in a lump sum in cash within 30 days of the Date of Termination. With respect to the provision of Other Benefits, the term Other
Benefits as used in this Section 8(c) shall include, without limitation, and Executive shall be entitled after the Disability Effective Date to receive, disability and other benefits under such plans, programs, practices and policies relating to
disability, if any, as applicable to Executive on the Date of Termination. 
  
 (d) Retirement. If Executive’s employment is terminated by reason of Executive’s Retirement during the Employment Period, this Agreement shall terminate without further obligations to Executive, other
than for payment of Accrued Obligations (excluding the pro-rata bonus described in clause 2 of Section 8(a)(i)(A)) and the timely payment or provision of Other Benefits. Accrued Obligations shall be paid to Executive in a lump sum in cash within 30
days of the Date of Termination. With respect to the provision of Other Benefits, the term Other Benefits as used in this Section 8(d) shall include, without limitation, and Executive shall be entitled after the Date of Termination to receive,
retirement and other benefits under such plans, programs, practices and policies relating to retirement, if any, as applicable to Executive on the Date of Termination. 
  

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 (e) Cause or Voluntary Termination without Good Reason. If Executive’s employment shall be
terminated for Cause during the Employment Period, or if Executive voluntarily terminates employment during the Employment Period without Good Reason, this Agreement shall terminate without further obligations to Executive, other than for payment of
Accrued Obligations (excluding the pro-rata bonus described in clause 2 of Section 8(a)(i)(A)) and the timely payment or provision of Other Benefits. 
  
 9. Non-exclusivity of Rights. Nothing in this Agreement shall prevent or limit Executive’s continuing or future participation in any plan,
program, policy or practice provided by the Company or any of its affiliated companies and for which Executive may qualify, nor, subject to Section 15(d), shall anything herein limit or otherwise affect such rights as Executive may have under any
contract or agreement with the Company or any of its affiliated companies. Amounts which are vested benefits or which Executive is otherwise entitled to receive under any plan, policy, practice or program of or any contract or agreement with the
Company or any of its affiliated companies at or subsequent to the Date of Termination shall be payable in accordance with such plan, policy, practice or program or contract or agreement except as explicitly modified by this Agreement. 

 
 10. Certain Additional Payments by the Company. 
  
 (a) Anything in this Agreement to the contrary notwithstanding and except as
set forth below, in the event it shall be determined that any benefit, payment or distribution by the Company to or for the benefit of Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or
otherwise, but determined without regard to any additional payments required under this Section 10) (a “Payment”) would be subject to the excise tax imposed by Section 4999 of the Code or any interest or penalties are incurred by Executive
with respect to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the “Excise Tax”), then: Executive shall be entitled to receive an additional payment (a
“Gross-Up Payment”) in an amount such that after payment by Executive of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties
imposed with respect thereto) and Excise Tax imposed upon the Gross-Up Payment, Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments. Notwithstanding the foregoing provisions of this Section 10(a), if
it shall be determined that Executive is entitled to a Gross-Up Payment, but that Executive, after taking into account the Payments and the Gross-Up Payment, would not receive a net after-tax benefit of at least $50,000 (taking into account both
income taxes and any Excise Tax) as compared to the net after-tax proceeds to Executive resulting from an elimination of the Gross-Up Payment and a reduction of the Payments, in the aggregate, to an amount (the “Reduced Amount”) such that
the receipt of Payments would not give rise to any Excise Tax, then no Gross-Up Payment shall be made to Executive and the Payments, in the aggregate, shall be reduced to the Reduced Amount. Executive may select the Payments to be limited or
reduced. 
  

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 (b) Subject to the provisions of Section 10(c), all determinations required to be made under this Section
10, including whether and when a Gross-Up Payment is required and the amount of such Gross-Up Payment and the assumptions to be used in arriving at such determination, shall be made by the Company’s regular independent accounting firm at the
expense of the Company or, at the election and expense of Executive, another nationally recognized independent accounting firm (the “Accounting Firm”) which shall provide detailed supporting calculations. Any determination by the
Accounting Firm shall be binding upon the Company and Executive. As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that Gross-Up
Payments which will not have been made by the Company should have been made (“Underpayment”), consistent with the calculations required to be made hereunder. In the event that the Company exhausts its remedies pursuant to Section 10(c) and
Executive thereafter is required to make a payment of any Excise Tax, the Accounting Firm shall determine the amount of the Underpayment that has occurred and any such Underpayment shall be promptly paid by the Company to or for the benefit of
Executive. 
  
 (c) Executive shall notify the Company in writing
of any claim by the Internal Revenue Service that, if successful, would require the payment by the Company of the Gross-Up Payment. Such notification shall be given as soon as practicable but no later than ten business days after Executive is
informed in writing of such claim and shall apprise the Company of the nature of such claim and the date on which such claim is requested to be paid. Executive shall not pay such claim prior to the expiration of the 30-day period following the date
on which it gives such notice to the Company (or such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the Company notifies Executive in writing prior to the expiration of such period that it desires
to contest such claim, Executive shall: 
  
 (i) give the Company
any information reasonably requested by the Company relating to such claim, 
  
 (ii) take such action in connection with contesting such claim as the Company shall reasonably request in writing from time to time, including, without limitation, accepting legal representation with respect to such
claim by an attorney reasonably selected by the Company, 
  
 (iii) cooperate with the Company in good faith in order effectively to contest such claim, and 
  
 (iv) permit the Company to participate in any proceedings relating to such claim; 
  

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 provided, however, that the Company shall bear and pay directly all costs and expenses (including additional
interest and penalties) incurred in connection with such contest and shall indemnify and hold Executive harmless, on an after-tax basis, for any Excise Tax or income tax (including interest and penalties with respect thereto) imposed as a result of
such representation and payment of costs and expenses. Without limitation of the foregoing provisions of this Section 10(c), the Company shall control all proceedings taken in connection with such contest and, at its sole option, may pursue or forgo
any and all administrative appeals, proceedings, hearings and conferences with the taxing authority in respect of such claim and may, at its sole option, either direct Executive to pay the tax claimed and sue for a refund or contest the claim in any
permissible manner, and Executive agrees to prosecute such contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as the Company shall determine; provided,
however, that if the Company directs Executive to pay such claim and sue for a refund, the Company shall advance the amount of such payment to Executive, on an interest-free basis and shall indemnify and hold Executive harmless, on an after-tax
basis, from any Excise Tax or income tax (including interest or penalties with respect thereto) imposed with respect to such advance or with respect to any imputed income with respect to such advance; and further provided that any extension of the
statute of limitations relating to payment of taxes for the taxable year of Executive with respect to which such contested amount is claimed to be due is limited solely to such contested amount. Furthermore, the Company’s control of the contest
shall be limited to issues with respect to which a Gross-Up Payment would be payable hereunder and Executive shall be entitled to settle or contest, as the case may be, any other issue raised by the Internal Revenue Service or any other taxing
authority. 
  
 (d) If, after the receipt by Executive of an amount
advanced by the Company pursuant to Section 10(c), Executive becomes entitled to receive any refund with respect to such claim, Executive shall (subject to the Company’s complying with the requirements of Section 10(c)) promptly pay to the
Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). 
  
 11. Costs of Enforcement. In any action taken in good faith relating to the enforcement of this Agreement or any provision herein after the
occurrence of a Change in Control, Executive shall be entitled to be paid any and all costs and expenses incurred by him in enforcing or establishing his rights thereunder, including, without limitation, reasonable attorneys’ fees, whether suit
be brought or not, and whether or not incurred in trial, bankruptcy or appellate proceedings. In all other circumstances, each party in any such action shall pay his or its own such costs and expenses. 
  
 12. Representations and Warranties. Executive hereby represents and
warrants to the Company that Executive is not a party to, or otherwise subject to, any covenant not to compete (other than as contained herein) with any person or entity, and Executive’s execution of this Agreement and performance of his
obligations hereunder will not violate the terms or conditions of any contract or obligation, written or oral, between Executive and any other person or entity. 
  

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 13. Restrictions on Executive’s Conduct. 
  
 (a) General. Executive and the Company understand and agree that the
purpose of the provisions of this Section 13 is to protect legitimate business interests of the Company, as more fully described below, and is not intended to eliminate Executive’s post-employment competition with the Company per se, nor
is it intended to impair or infringe upon Executive’s right to work, earn a living, or acquire and possess property from the fruits of his labor. Executive hereby acknowledges that Executive has received good and valuable consideration for the
post-employment restrictions set forth in this Section 13 in the form of the compensation and benefits provided for herein. Executive hereby further acknowledges that the post-employment restrictions set forth in this Section 13 are reasonable and
that they do not, and will not, unduly impair Executive’s ability to earn a living after the Date of Termination. Therefore, subject to the limitations of reasonableness imposed by law, Executive shall be subject to the restrictions set forth
in this Section 13. 
  
 (b) Definitions. The following
capitalized terms used in this Section 13 shall have the meanings assigned to them below, which definitions shall apply to both the singular and the plural forms of such terms: 
  
 “Competitive Position” means any position with a Competitor as a Principal or Representative in which
Executive will use or is likely to use any Confidential Information or Trade Secrets of the Company, or in which Executive has duties for, provides services to, or otherwise assists such Competitor where such duties, services or assistance involve
Competitive Services. 
  
 “Competitive Services”
means any activities engaged in by the Company as of the Date of Termination that relate directly to (a) the distribution of medical supplies, equipment and pharmaceuticals to (i) primary care and other office-based physicians, or (ii) nursing
homes, extended care facilities, assisted living facilities, or home care or visiting nurse associations or agencies, or (b) the distribution of medical diagnostic imaging supplies, chemicals, equipment and service to the acute care and alternate
care market; provided, however, that Competitive Services shall not include (x) the manufacture of medical supplies, equipment or pharmaceuticals or medical diagnostic imaging supplies, chemicals or equipment (collectively “Medical
Products”), (y) the provision of e-commerce or internet services with respect to the dissemination of information or services related to the distribution of Medical Products (but which is not the distribution of Medical Products), or (z) the
provision of group purchasing, contract pricing or cost analyses for physicians or medical practices. 
  
 “Competitor” means any Person engaged, wholly or in material part, in Competitive Services. 
  
 “Confidential Information” means all information regarding
the Company, its activities, business or clients that is the subject of reasonable efforts by the 
  

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 Company to maintain its confidentiality and that is not generally disclosed by practice or authority to persons not
employed by the Company, but that does not rise to the level of a Trade Secret. “Confidential Information” shall include, but is not limited to, financial plans and data concerning the Company; management planning information; business
plans; operational methods; market studies; marketing plans or strategies; product development techniques or plans; customer lists; details of customer contracts; current and anticipated customer requirements; past, current and planned research and
development; business acquisition plans; and new personnel acquisition plans. “Confidential Information” shall not include information that has become generally available to the public by the act of one who has the right to disclose such
information without violating any right or privilege of the Company. This definition shall not limit any definition of “confidential information” or any equivalent term under state or federal law. 
  
 “Person” means any individual or any corporation,
partnership, joint venture, limited liability company, association or other entity or enterprise. 
  
 “Principal or Representative” means a principal, owner, partner, shareholder, joint venturer, investor, member, trustee, director,
officer, manager, employee, agent, representative or consultant. 
  
 “Protected Customers” means any Person to whom the Company has sold its products or services or to whom the Company has submitted a written proposal to sell its products or services during the twelve (12) months prior to
the Date of Termination. 
  
 “Protected Employees”
means employees of the Company who were employed by the Company at any time within six (6) months prior to the Date of Termination. 
  
 “Restricted Period” means the term of Executive’s employment hereunder and a period extending until eighteen (18) months from the
Date of Termination. 
  
 “Restricted Territory”
means the territory in which Executive provided Competitive Services to the Company at any time during the twenty-four (24) month period prior to the Date of Termination. 
  
 “Restrictive Covenants” means the restrictive covenants contained in Section 13(d) hereof. 
  
 “Trade Secret” means all information, without regard to
form, including, but not limited to, technical or nontechnical data, a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing, a process, financial data, financial plans, product plans, distribution lists or a list
of actual or potential 
  

 - 13 - 

 customers, advertisers or suppliers which is not commonly known by or available to the public and which information: (A)
derives economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use; and (B) is the subject of efforts that
are reasonable under the circumstances to maintain its secrecy. Without limiting the foregoing, Trade Secret means any item of confidential information that constitutes a “trade secret(s)” under the common law or statutory law of the State
of Florida. 
  
 (c) Protectable Employer Interests.
Executive and the Company acknowledge and agree as follows: (i) that Executive’s services on behalf of the Company require special expertise and talent in the provision of Competitive Services and, pursuant to Executive’s employment with
the Company, the Company shall devote time and money to the enhancement of Executive’s professional skills and education through specialized training; (ii) that Executive is in a position of trust and responsibility and will have access to a
substantial amount of Confidential Information and Trade Secrets belonging to the Company; (iii) that, during the term of Executive’s employment by the Company, Executive will develop substantial relationships with prospective and existing
customers of the Company; and (iv) that as a manager of the Company, Executive will be the repository of a substantial portion of the goodwill of the Company. 
  

(d) Restrictive Covenants. 
  
 (i) Restriction on Disclosure and Use of Confidential Information and Trade Secrets. Executive understands and agrees that the Confidential
Information and Trade Secrets constitute valuable assets of the Company and its affiliated entities, and may not be converted to Executive’s own use. Accordingly, Executive hereby agrees that Executive shall not, directly or indirectly, at any
time during the Restricted Period reveal, divulge, or disclose to any Person not expressly authorized by the Company any Confidential Information, and Executive shall not, directly or indirectly, at any time during the Restricted Period use or make
use of any Confidential Information in connection with any business activity. For a period of five years after the date of Termination, Executive shall not directly or indirectly transmit or disclose any Trade Secret of the Company to any Person,
and shall not make use of any such Trade Secret, directly or indirectly, for himself or for others, without the prior written consent of the Company. Executive and the Company acknowledge and agree that this Section 13 is not intended to, and does
not, alter either the Company’s rights or Executive’s obligations under any state or federal statutory or common law regarding trade secrets and unfair trade practices. Notwithstanding the above, this covenant shall expire (except with
respect to Trade Secrets) upon the occurrence of a Change in Control. 
  
 (ii) Nonsolicitation of Protected Employees. Executive understands and agrees that the relationship between the Company and each of its Protected Employees constitutes a valuable asset of the Company and may not be converted through
Executive’s solicitation to Executive’s own use. Accordingly, Executive hereby agrees 
  

 - 14 - 

 that during the Restricted Period, Executive will not, directly or indirectly, on his own behalf or as a Principal or
Representative of any Person or otherwise, solicit or induce any Protected Employee to terminate his or her employment relationship with the Company or to enter into any relationship of employment, agency or independent contractorship with any other
Person. Notwithstanding the above, this covenant shall expire upon the occurrence of a Change in Control. 
  
 (iii) Restriction on Relationships with Protected Customers. Executive understands and agrees that the relationship between the Company and each
of its Protected Customers constitutes a valuable asset of the Company and may not be converted through Executive’s solicitation to Executive’s own use. Accordingly, Executive hereby agrees that, during the Restricted Period, Executive
will not, without the prior written consent of the Company, directly or indirectly, on his own behalf or as a Principal or Representative of any Person, solicit, divert, or attempt to solicit or divert a Protected Customer for the purpose of
providing or selling Competitive Services; provided, however, that the prohibition of this covenant shall apply only to Protected Customers with whom Executive had Material Contact on the Company’s behalf during the twelve (12) months
immediately preceding the Date of Termination. For purposes of this Agreement, Executive had “Material Contact” with a Protected Customer if (a) Executive had business dealings with the Protected Customer on the Company’s behalf; (b)
Executive was responsible for supervising or coordinating the dealings between the Company and the Protected Customer; or (c) Executive obtained Trade Secrets or Confidential Information about the customer as a result of Executive’s association
with the Company. Notwithstanding the above, this covenant shall expire upon the occurrence of a Change in Control. 
  
 (iv) Noncompetition with the Company. Executive understands and agrees that he is capable of obtaining gainful, lucrative and desirable employment
that does not violate the restrictions contained in this Agreement. In consideration of the compensation and benefits being paid and to be paid by the Company to Executive hereunder, Executive hereby agree that, during the Restricted Period,
Executive will not, without prior written consent of the Company, directly or indirectly seek or obtain a Competitive Position in the Restricted Territory with a Competitor; provided, however, that the provisions of this Agreement shall not
be deemed to prohibit the ownership by Executive of any securities of the Company or its affiliated entities or not more than five percent (5%) of any class of securities of any corporation having a class of securities registered pursuant to the
Securities Exchange Act of 1934, as amended. Notwithstanding the above, this covenant shall expire upon the occurrence of a Change in Control. 
  
 (e) Exceptions from Disclosure Restrictions. Anything herein to the contrary notwithstanding, Executive will not be restricted from disclosing or
using Confidential Information that: (i) is or becomes generally available to the public other than as a result of an unauthorized disclosure by Executive or Executive’s agent; (ii) becomes available to Executive in a manner that is not in
contravention of applicable 
  

 - 15 - 

 law from a source (other than the Company or its affiliated entities or one of its or their officers, employees, agents
or representatives) that is not bound by a confidential relationship with the Company or its affiliated entities or by a confidentiality or other similar agreement; (iii) was known to Executive on a non-confidential basis and not in contravention of
applicable law or a confidentiality or other similar agreement before its disclosure to Executive by the Company or its affiliated entities or one of its or their officers, employees, agents or representatives; or (iv) is required to be disclosed by
law, court order or other legal process; provided, however, that in the event disclosure is required by law, Executive will provide the Company with prompt notice of such requirement so that the Company may seek an appropriate protective
order prior to any such required disclosure by Executive. 
  
 (f)
Reasonableness. The covenants contained in this Section 13 are considered by the parties hereto to be fair, reasonable and necessary for the protection of the legitimate business interests of the Company. 
  
 (g) Enforcement of Restrictive Covenants. 
  
 (i) Rights and Remedies Upon Breach. In the event Executive
breaches, or threatens to commit a breach of, any of the provisions of the Restrictive Covenants, the Company shall have the following rights and remedies, which shall be independent of any others and severally enforceable, and shall be in addition
to, and not in lieu of, any other rights and remedies available to the Company at law or in equity: (1) the right and remedy to enjoin, preliminarily and permanently, Executive from violating or threatening to violate the Restrictive Covenants and
to have the Restrictive Covenants specifically enforced, it being agreed that any breach or threatened breach of the Restrictive Covenants would cause irreparable injury to the Company and that money damages would not provide an adequate remedy to
the Company; and (2) the right and remedy to cease any further Severance Payment or provision of Welfare Benefits to Executive under Section 8 of this Agreement and to require Executive to account for and pay over to the Company any Severance
Payment previously paid to Executive under Section 8. 
  
 (ii)
Severability of Covenants. Executive acknowledges and agrees that the Restrictive Covenants are reasonable and valid in time and scope and in all other respects. If any court determines that any of the Restrictive Covenants, or any part
thereof, are invalid or unenforceable, the remainder of the Restrictive Covenants will not thereby be affected and will be given full effect, without regard to the invalid portions. 
  
 (iii) Reformation. Executive and the Company agree that it is their mutual intention that the Restrictive Covenants
be enforced in accordance with their terms to the maximum extent possible under applicable law. Executive and the Company further agree that, in the event any court of competent jurisdiction shall find that any provision hereof is not enforceable in
accordance with its terms, the court shall reform the Restrictive Covenants such that they will be enforceable to the maximum extent permissible at law. 
  

 - 16 - 

 (iv) Survival of the Restrictive Covenants. Executive and the Company agree that the terms of
this Section 13 shall survive the termination or expiration of the Employment Period, unless expressly terminated by a writing signed by both parties hereto, which makes specific reference to this Section 13. 
  
 14. Assignment and Successors. 
  
 (a) Executive. This Agreement is personal to Executive and without the
prior written consent of the Company shall not be assignable by Executive otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by Executive’s legal representatives.

  
 (b) The Company. This Agreement shall inure to the
benefit of and be binding upon the Company and its successors and assigns. The Company will require any successor to all or substantially all of the business and/or assets of the Company (whether direct or indirect, by purchase, merger,
consolidation or otherwise) to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. As used in this Agreement,
“the Company” shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law or otherwise. 
  
 15. Miscellaneous. 
  
 (a) Waiver. Failure of either party to insist, in one or more
instances, on performance by the other in strict accordance with the terms and conditions of this Agreement shall not be deemed a waiver or relinquishment of any right granted in this Agreement or of the future performance of any such term or
condition or of any other term or condition of this Agreement, unless such waiver is contained in a writing signed by the party making the waiver. 
  
 (b) Severability. If any provision or covenant, or any part thereof, of this Agreement should be held by any court to be invalid, illegal or
unenforceable, either in whole or in part, such invalidity, illegality or unenforceability shall not affect the validity, legality or enforceability of the remaining provisions or covenants, or any part thereof, of this Agreement, all of which shall
remain in full force and effect. 
  
 (c) Other Agents.
Nothing in this Agreement is to be interpreted as limiting the Company from employing other personnel on such terms and conditions as may be satisfactory to it. 
  
 (d) Entire Agreement. Except as provided herein, this Agreement contains the entire agreement between the Company and
Executive with respect to the subject 
  

 - 17 - 

 matter hereof, and it supersedes and invalidates any previous agreements or contracts between them which relate to the
subject matter hereof. No representations, inducements, promises or agreements, oral or otherwise, which are not embodied herein shall be of any force or effect. 
  
 (e) Choice of Law; Forum Selection. The validity, interpretation and performance of this Agreement shall be governed
by and controlled in accordance with the laws of the State of Florida, including said State’s choice of law rules. The parties hereto voluntarily submit themselves to the jurisdiction of the state or federal district courts in the State of
Florida which shall have exclusive jurisdiction over any case or controversy arising under or in connection with this Agreement, including with respect to an action to remedy any breach of or otherwise to enforce the terms and conditions of this
Agreement. 
  
 (f) Notices. All notices, requests, demands
and other communications required or permitted hereunder shall be in writing and shall be deemed to have been duly given if delivered or three days after mailing if mailed, first class, certified mail, postage prepaid: 
  

			
	 To Company:
	 	 PSS World Medical, Inc.

	 	 	 4345 Southpoint Boulevard

	 	 	 Jacksonville, Florida 32216

	 	 	 Facsimile No. (904) 332-3209

	 	 	 Attention: Chief Executive Officer

	 To Executive:
	 	  

	 	 	  

	 	 	  

  
 Any party may change the address to
which notices, requests, demands and other communications shall be delivered or mailed by giving notice thereof to the other party in the same manner provided herein. 
  
 (g) Amendments and Modifications. This Agreement may be amended or modified only by a writing signed by both parties
hereto, which makes specific reference to this Agreement. 
  
 (signatures on following page) 
  

 - 18 - 

 IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this Employment Agreement as of
the date first above written. 
  

			
	 PSS WORLD MEDICAL, INC.

		
	 By:
	 	 /s/ David A. Smith

	 	 	 David A. Smith

	 	 	 President and Chief Executive Officer

	
	 EXECUTIVE:

		
	 	 	 /s/ Kevin P. English

	 	 	 Kevin P. English

  

 - 19 - 

 EXHIBIT A 
  
 Form of Release of Claims 
  
 THIS RELEASE (“Release”) is granted effective as of the              day of
            , 20    , by Kevin P. English (“Executive”) in favor of PSS World Medical, Inc. (the “Company”). This is the Release
referred to that certain Employment Agreement dated as of             , 2002 by and between the Company and Executive (the “Employment Agreement”). Executive gives this
Release in consideration of the Company’s promises and covenants as recited in the Employment Agreement, with respect to which this Release is an integral part. 
  
 1. Release of the Company. Executive, for himself, his successors, assigns, attorneys, and all those entitled to
assert his rights, now and forever hereby releases and discharges the Company and its respective officers, directors, stockholders, trustees, employees, agents, parent corporations, subsidiaries, affiliates, estates, successors, assigns and
attorneys (the “Released Parties”), from any and all claims, actions, causes of action, sums of money due, suits, debts, liens, covenants, contracts, obligations, costs, expenses, damages, judgments, agreements, promises, demands, claims
for attorney’s fees and costs, or liabilities whatsoever, in law or in equity, which Executive ever had or now has against the Released Parties arising by reason of or in any way connected with any employment relationship which existed between
the Company or any of its parents, subsidiaries, affiliates, or predecessors, and Executive. It is understood and agreed that this Release is intended to cover all actions, causes of action, claims or demands for any damage, loss or injury arising
from the aforesaid employment relationship, or the termination of that relationship, that Executive has, had or purports to have, from the beginning of time to the date of this Release, whether known or unknown, that now exists related to the
aforesaid employment relationship including but not limited to claims for employment discrimination under federal or state law, except as provided in Paragraph 2; claims arising under Title VII of the Civil Rights Act, 42 U.S.C. § 2002(e),
et seq. or the Americans With Disabilities Act, 42 U.S.C. § 12101 et seq.; claims for statutory or common law wrongful discharge, including any claims arising under the Fair Labor Standards Act, 29 U.S.C. § 201
et seq.; claims for attorney’s fees, expenses and costs; claims for defamation; claims for wages or vacation pay; claims for benefits, including any claims arising under the Employee Retirement Income Security Act, 29 U.S.C.
§ 1001, et seq.; and provided, however, that nothing herein shall release the Company of their obligations to Executive under the Employment Agreement or any other contractual obligations between the Company or its affiliates and
Executive, or any indemnification obligations to Executive under the Company’s bylaws, articles of incorporation, Florida law or otherwise. 
  
 2. Release of Claims Under Age Discrimination in Employment Act. Without limiting the generality of the foregoing, Executive agrees that by
executing this Release, he has released and waived any and all claims he has or may have as of the date of this Release for age discrimination under the Age Discrimination in Employment Act, 

 29 U.S.C. § 621, et seq. It is understood that Executive is advised to consult with an attorney prior
to executing this Release; that he in fact has consulted a knowledgeable, competent attorney regarding this Release; that he may, before executing this Release, consider this Release for a period of twenty-one (21) calendar days; and that the
consideration he receives for this Release is in addition to amounts to which he was already entitled. It is further understood that this Release is not effective until seven (7) calendar days after the execution of this Release and that Executive
may revoke this Release within seven (7) calendar days from the date of execution hereof. 
  
 Executive agrees that he has carefully read this Release and is signing it voluntarily. Executive acknowledges that he has had twenty one (21) days from receipt of this Release to review it prior to signing or that,
if Executive is signing this Release prior to the expiration of such 21-day period, Executive is waiving his right to review the Release for such full 21-day period prior to signing it. Executive has the right to revoke this Release within seven (7)
days following the date of its execution by him. However, if Executive revokes this Release within such seven (7) day period, no severance benefit will be payable to him under the Employment Agreement and he shall return to the Company any such
payment received prior to that date. 
  
 EXECUTIVE HAS CAREFULLY
READ THIS RELEASE AND ACKNOWLEDGES THAT IT CONSTITUTES A GENERAL RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS AGAINST THE COMPANY AND ITS AFFILIATES UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT. EXECUTIVE ACKNOWLEDGES THAT HE HAS HAD A FULL OPPORTUNITY
TO CONSULT WITH AN ATTORNEY OR OTHER ADVISOR OF HIS CHOOSING CONCERNING HIS EXECUTION OF THIS RELEASE AND THAT HE IS SIGNING THIS RELEASE VOLUNTARILY AND WITH THE FULL INTENT OF RELEASING THE COMPANY AND ITS AFFILIATES FROM ALL SUCH CLAIMS.

  
  

	
	

	Kevin P. English
	
	Date:
                            

  

 - 2 -DIRECTORS' DEFERRED COMPENSATION PLAN

 Exhibit 10.25 
  
 PSS WORLD MEDICAL, INC. 
  
 DIRECTORS’ DEFERRED
COMPENSATION PLAN 

			
	 ARTICLE I
	  	 
	 Establishment and Purpose
	  	Page 3
		
	 ARTICLE II
	  	 
	 Definitions
	  	Page 3
		
	 ARTICLE III
	  	 
	 Eligibility and Participation
	  	Page 6
		
	 ARTICLE IV
	  	 
	 Deferral Elections, Account Valuation
	  	Page 7
		
	 ARTICLE V
	  	 
	 Distributions and Withdrawals
	  	Page 9
		
	 ARTICLE VI
	  	 
	 Administration
	  	Page 11
		
	 ARTICLE VII
	  	 
	 Amendment and Termination
	  	Page 12
		
	 ARTICLE VIII
	  	 
	 Informal Funding
	  	Page 13
		
	 ARTICLE IX
	  	 
	 General Conditions
	  	Page 13

  

 2 

 PSS WORLD MEDICAL, INC. 
 DIRECTORS’ DEFERRED COMPENSATION PLAN 
  

 ARTICLE I 
  
 ESTABLISHMENT AND PURPOSE 
  
 PSS World Medical, Inc. (the “Company”) hereby adopts the PSS World Medical, Inc.
Directors’ Deferred Compensation Plan (the “Plan”), effective January 1, 2004 (the “Effective Date”). The purpose of the Plan is to provide non-employee Directors with an opportunity to defer receipt of their annual
retainer, meeting fees, and other cash compensation. The Plan is not intended to meet the qualification requirements of Section 401(a) of the Internal Revenue Code, and will not be subject to ERISA because it will not be offered to employees of the
Company. 
  
 ARTICLE II 
  
 DEFINITIONS 
  

	2.1	Account Balance. Account Balance means the total value of all the Investment Options in which the Participant deferrals have been Deemed Invested as of a specific date,
taking into account the value of all distributions from that Account to the specific date. 

  

	2.2	Allocation Election. Allocation Election means a choice by a Participant of one or more Investment Options, and the allocation among them, in which future Participant
deferrals are Deemed Invested for purposes of determining earnings in the Deferred Compensation Account. 

  

	2.3	Allocation Election Form. Allocation Election Form means the form (or Website screen) approved by the Plan Administrator on which the Participant makes or modifies an
Allocation Election. 

  

	2.4	Annual Valuation Date. Annual Valuation Date shall mean the anniversary of the Termination Valuation Date utilized to determine the amount of an annual installment payment.

  

	2.5	Beneficiary. Beneficiary means a natural person, estate, or trust designated by a Participant on the form designated by the Plan Administrator to receive benefits to which a
Beneficiary is entitled under and in accordance with provisions of the Plan. The Participant’s estate shall be the Beneficiary if: 

  

	 	a.	the Participant has not designated a natural person or trust as Beneficiary, or 

  

	 	b.	the designated Beneficiary has predeceased the Participant. 

  

 3 

 PSS WORLD MEDICAL, INC. 
 DIRECTORS’ DEFERRED COMPENSATION PLAN 
  

	2.6	Change in Control. Change in Control means the occurrence of: (a) any merger or consolidation in which the Company is not the surviving corporation and which results in the
holders of the outstanding voting securities of the Company (determined immediately prior to such merger or consolidation) owning less than a majority of the outstanding voting securities of the surviving corporation (determined immediately
following such merger or consolidation), (b) any sale or transfer by the Company of all or substantially all of its assets, or (c) any tender offer or exchange offer for or the acquisition, directly or indirectly, by any person or group of all or a
majority of the then-outstanding voting securities of the Company. 

  

	2.7	Chief Executive Officer. Chief Executive Officer means the individual who performs the functions of a Chief Executive Officer for the Company. 

  

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

  

	2.9	Company. Company means PSS World Medical, Inc. 

  

	2.10	Compensation. Compensation shall mean, for purposes of this Plan, cash remuneration paid to a Director in connection with his or her services as an outside Director with the
Company including, without limitation, annual retainers, meeting fees, and other Directors’ fees, and any equity based compensation (if any) approved by the Plan Administrator as Compensation for purposes of this Plan. 

 

	2.11	Compensation Deferral Agreement. Compensation Deferral Agreement shall mean the deferral election form, or such other forms furnished by the Plan Administrator (or screens on
the Participant Website approved by the Plan Administrator), on which a Participant elects: (a) the amount of deferral and type of Compensation to be deferred beginning the first day of the following Plan Year; and (b) the Form of Payment elections
for Termination Benefits. The Allocation Election Form may be part of the Compensation Deferral Agreement, in the discretion of the Plan Administrator. 

  

	2.12	Death Benefit. Death Benefit shall mean a distribution of the total amount of the Participant’s Deferred Compensation Account Balance to the Participant’s
Beneficiary(ies) in accordance with Article V of the Plan. 

  

	2.13	Deemed Investment. A Deemed Investment (or “Deemed Invested”) shall mean the notional conversion of a dollar amount of deferred Compensation credited to a
Participant’s Deferred Compensation Account into shares or units (or a fraction 

  

 4 

 PSS WORLD MEDICAL, INC. 
 DIRECTORS’ DEFERRED COMPENSATION PLAN 
  

 of such measures of ownership, if applicable) of the underlying investment (e.g. mutual fund or other
investment) which is referred to by the Investment Option(s) selected by the Participant. The conversion shall occur as if shares (or units) of the designated investment were being purchased (or sold, for a distribution) at the purchase price as of
the close of business of the day on which the Deemed Investment occurs. At no time shall a Participant have any real or beneficial ownership in the actual investment to which the Investment Option refers, irrespective of whether such a Deemed
Investment is mirrored by an actual identical investment by the Company or a trustee acting on behalf of the Company. 
  

	2.14	Deferred Compensation Account (“Account”). A Participant’s Deferred Compensation Account shall mean a record maintained by the Plan Administrator of all
Participant deferrals and Deemed Investments thereof minus any withdrawals and distributions from said Account. The Account shall be a bookkeeping account utilized solely as a device for the measurement of amounts to be paid to the Participant under
the Plan. The Account, and all Sub-Accounts, shall not constitute or be treated as an escrow, trust fund, or any other type of funded account for Code purposes and, moreover, amounts credited thereto shall not be considered “plan assets”.

  

	2.15	Deferred Compensation Committee or “Committee”. Deferred Compensation Committee, or “Committee” means a committee of at least three (3) officers of the
Company appointed by the Compensation Committee of the Board or the Chief Executive Officer, who shall serve until the earlier of termination of service or appointment of a replacement by the Compensation Committee of the Board or the Chief
Executive Officer. 

  

	2.16	Director. Director shall mean for purposes of this Plan a non-employee independent contractor serving as a member of the Board of Directors of the Company.

  

	2.17	Investment Option. Investment Option shall mean a security or other investment such as a mutual fund, life insurance sub-account, or other investment approved by the Plan
Administrator for use as part of an Investment Option menu, which a Participant may elect as a measuring device to determine Deemed Investment earnings (positive or negative) to be valued in the Participant’s Account or Sub-Account. The
Participant has no real or beneficial ownership in the security or other investment represented by the Investment Option. 

  

	2.18	Participant. Participant means a Director who has elected to defer Compensation in accordance with the Plan in any Plan Year. 

  

 5 

 PSS WORLD MEDICAL, INC. 
 DIRECTORS’ DEFERRED COMPENSATION PLAN 
  

	2.19	Plan. Plan means the PSS World Medical, Inc. Directors’ Deferred Compensation Plan as documented herein and as may be amended from time to time hereafter.

  

	2.20	Plan Administrator. Plan Administrator shall mean a person or persons appointed by the Deferred Compensation Committee who is responsible for the day-to-day decision making,
record keeping, and administration of the Plan; provided, that the Plan Administrator may delegate duties of the Plan Administrator to employees or others to assist in the administration of the Plan. 

  

	2.21	Plan Year. Plan Year means January 1 through December 31 each year. 

  

	2.22	Sub-Account. Sub-Account shall mean a portion of the Deferred Compensation Account maintained separately by the Plan Administrator in order to properly administer the Plan.

  

	2.23	Termination Benefit. Termination Benefit shall mean the Participant’s Deferred Compensation Account Balance distributed in accordance with Article V of the Plan.

  

	2.24	Termination of Service. Termination of Service shall mean the complete termination of a Director’s service on the Board of Directors of the Company.

  

	2.25	Termination Valuation Date. Termination Valuation Date shall mean the last day of the calendar month in which Termination of Service occurs. 

  
 ARTICLE III 
  
 ELIGIBILITY AND
PARTICIPATION 
  

	3.1	Eligibility and Participation. Each Director shall be eligible to participate in this Plan. 

  

	3.2	Duration. Once a Director becomes a Participant, such Director shall continue to be a Participant so long as he or she is entitled to receive benefits hereunder,
notwithstanding any subsequent Termination of Service. 

  

	3.3	Revocation of Future Participation. Notwithstanding the provisions of Section 3.2, the Committee may revoke such Participant’s eligibility to make future deferrals under
this Plan. Such revocation will not affect in any manner a Participant’s Deferred Compensation Account or other terms of this Plan. 

  

 6 

 PSS WORLD MEDICAL, INC. 
 DIRECTORS’ DEFERRED COMPENSATION PLAN 
  

	3.4	Notification. Each newly eligible Director shall be notified by the Plan Administrator, in writing, of his or her eligibility to participate in this Plan.

  
 ARTICLE IV 
  
 DEFERRAL ELECTIONS, AND
PARTICIPANT ACCOUNT VALUATION 
  

	4.1	Deferral Elections 

  

	 	(a)	A Participant shall make deferral elections under the Plan by completing and submitting to the Plan Administrator a written Compensation Deferral Agreement provided by the Plan
Administrator (or completing and electronically submitting the deferral election screen on the Participant website, when made available by the Plan Administrator). Deferral elections shall be made during an annual enrollment period which shall end
no later than December 31 preceding the Plan Year to which the deferral election relates. Notwithstanding the foregoing, a Director who becomes eligible to be a Participant during any Plan Year may, in the initial year of eligibility only, make
deferral elections with respect to Compensation which will be paid during the balance of such Plan Year but after such elections in such Plan Year, within 30 days of the date of notification of eligibility as required in Section 3.4 of the Plan.

  

	 	(b)	Deferral elections shall be for a Plan Year, and shall remain in effect from Plan Year to Plan Year unless modified or revoked by the Participant in writing on such forms as may be
prescribed by the Plan Administrator (or by following such procedures as are set by the Plan Administrator regarding using the Participant website, when available) during an enrollment period. Such modification or revocation shall become effective
on the first day of the Plan Year following the date of the modification or revocation. 

  

	 	(c)	A deferral election shall designate the amount of Compensation to be deferred in whole percentages. A Participant may defer up to 100% of his or her Compensation to be paid during
the Plan Year to which the election refers. 

  

	 	(d)	Deferrals shall be deducted from a Participant’s Compensation and the amount deferred shall be credited to the Participant’s Deferred Compensation Account and a Deemed
Investment shall be made in the investment(s) represented by the Investment Option(s) elected by the Participant as of the close of business on the date it would otherwise have been paid as Compensation to the Participant. 

 

 7 

 PSS WORLD MEDICAL, INC. 
 DIRECTORS’ DEFERRED COMPENSATION PLAN 
  

	 	(e)	The Compensation Deferral Agreement shall indicate the Participant’s election of a payment schedule for his or her Termination Benefit. A Participant shall elect to have such
Termination Benefit distributed: (a) a portion, or all, in a single lump sum payable as soon as administratively practicable following the Termination Valuation Date; and/or (b) the balance (assuming it is at least $25,000) in up to ten (10) annual
installment payments payable at the time described in Section 5.3. An election of a payment schedule for a Participant’s Termination Benefit shall pertain to the entire Deferred Compensation Account Balance. A Participant shall be permitted to
change his or her payment schedule election at any time by filing a new Compensation Deferral Agreement (or by following such procedures as are set by the Plan Administrator regarding using the Participant website, when available), provided such
election is made at least thirteen (13) months prior to the Participant’s date of Termination of Service. Any payment schedule election made within thirteen months of Termination of Service shall be null and void, and the most recent payment
schedule election which is dated at least thirteen months prior to Termination of Service will be in effect. 

  

	4.2	Allocation Elections and Valuation of Accounts 

  

	 	(a)	A Participant shall elect Investment Options from a menu provided by the Plan Administrator. The initial election shall be made on the Allocation Election form approved by the Plan
Administrator (or Allocation Election Screen on the Participant website approved by the Plan Administrator) and shall specify the allocations among the Investment Options elected. A Participant’s Deferred Compensation Account shall be valued as
the sum of the value of all Deemed Investments minus any withdrawals or distributions from said Account. Investment Options shall be utilized to determine the earnings attributable to the Account. Elections of Investment Options do not represent
actual ownership of, or any ownership rights in or to, the securities or other investments to which the Investment Options refer, nor is the Company in any way bound or directed to make actual investments corresponding to Deemed Investments.

  

	 	(b)	The Committee, in its sole discretion, shall be permitted to add or remove Investment Options provided that any such additions or removals of Investment Options shall not be
effective with respect to any period prior 

  

 8 

 PSS WORLD MEDICAL, INC. 
 DIRECTORS’ DEFERRED COMPENSATION PLAN 
  

 to the effective date of such change. Any unallocated portion of the Participant’s Account or
any unallocated portion of new deferrals shall be Deemed Invested in an Investment Option referring to a money market based fund. 
  

	 	(c)	A Participant may make a new Allocation Election with respect to future deferrals, and change the allocation of his or her Account, provided that such new allocations shall be in
increments of one percent (1%). New Allocation Elections may be made on any business day, and will become effective on the same business day or, in the case of Allocation Elections received after a cut-off time established by the Plan Administrator,
the following business day. 

  

	 	(d)	Notwithstanding anything in this Section to the contrary, the Company shall have the sole and exclusive authority to invest any or all amounts deferred in any manner, regardless of
any Allocation Elections by any Participant. A Participant’s Allocation Election shall be used solely for purposes of determining the value of such Participant’s Sub-Accounts and the amount of the corresponding liability of the Company in
accordance with this Plan. 

  

	4.3	Prohibition Against Modifications to deferral elections. A Participant may not modify or revoke a deferral election during a Plan Year. 

  
 ARTICLE V 
  
 DISTRIBUTIONS AND
WITHDRAWALS 
  

	5.1	Termination Benefit Distribution. The Termination benefit will be paid (or the first payment will be made) in accordance with the Participant payment schedule election as
soon as administratively practicable following the Termination Valuation Date. 

  

	5.2	Installment Payments. If the Participant has elected installment payments for his or her Termination Benefit distribution, annual cash payments will be made beginning as soon
as administratively practicable following the Termination Valuation Date or, in the event of a partial lump sum election, following the first anniversary of the partial lump sum payment made following Termination of Service. Such payments shall
continue annually on or about the anniversary of the previous installment payment until the number of installment payments elected has been paid. The installment payment amount shall be determined 

  

 9 

 PSS WORLD MEDICAL, INC. 
 DIRECTORS’ DEFERRED COMPENSATION PLAN 
  

 annually as the result of a calculation, performed on the Annual Valuation Date, where (i) is divided
by (ii): 
  

	 	(i)	equals the value of the applicable Sub-Account on the Annual Valuation Date; and 

  

	 	(ii)	equals the remaining number of installment payments. 

  

	5.3	Small Account Balance Lump Sum Payment. 

  
 In the event that a Participant’s Deferred Compensation Account Balance is less than $25,000 on the initial Termination Valuation Date, the
Termination Benefit shall be paid in a lump sum and any form of payment election to the contrary shall be null and void. 
  

	5.4	Death Benefit. In the event of a Participant’s death either before Termination of Service or before complete distribution of the Termination Benefit, such
Participant’s Beneficiary, named on the most recently filed Beneficiary Designation Form, shall be paid a Death Benefit in the amount of the remaining Deferred Compensation Account Balance in a single lump sum as soon as practicable following
the end of the month in which the Participant’s death occurred. The Valuation Date for purposes of determining the Death Benefit shall be the last day of the month in which the Participant’s death occurs. 

  

	5.5	Voluntary Withdrawal. A Participant may request, in writing to the Plan Administrator, to withdraw up to 100% of the vested portion of his or her Deferred Compensation
Account Balance at any time and for any reason, subject to a penalty of 10% of the amount withdrawn. The penalty shall be forfeited to the Company. There is a minimum withdrawal amount of $5,000. Deferral elections shall be deemed revoked for the
balance of the Plan Year in which such withdrawal election is made and not permitted for the following Plan Year. 

  

	5.6	Court Order. In the event a Court of competent jurisdiction orders a division of “plan assets” or a distribution of a Participant’s Account or portion thereof
pursuant to a valid Judgment or Court Order, the Plan Administrator shall make a distribution to the Participant or such other recipient as is named in the Judgment or Court Order in the amount necessary to satisfy the Judgment or Court Order.

  

	5.7	Change in Control. In the event a Participant shall have a Termination of Service within two (2) years following a Change in Control, such Participant shall receive his or
her Deferred Compensation Account Balance in a single lump sum paid as soon as administratively practicable following the Valuation Date, which shall be the end of the month in which the Change in Control occurs. All payment schedule elections to
the contrary shall be ignored. 

  

 10 

 PSS WORLD MEDICAL, INC. 
 DIRECTORS’ DEFERRED COMPENSATION PLAN 
  

	5.8	Pro-rata subtraction from Investment Options. In the event a distribution under this Article V (e.g. an installment payment or voluntary withdrawal, etc.) is less than the
entire Account Balance and the Account is allocated over more than one Investment Option, the distribution shall be subtracted from each Investment Option in a pro-rata manner determined in the sole discretion of the Plan Administrator.

  
 ARTICLE VI 
  
 ADMINISTRATION 
  

	6.1	Plan Administration. This Plan shall be administered by the Plan Administrator, which shall have discretionary authority to make, amend, interpret and enforce all appropriate
rules and regulations for the administration of this Plan and to utilize its discretion to decide or resolve any and all questions, including but not limited to eligibility for benefits and interpretations of this Plan and its terms, as may arise in
connection with the Plan. Claims for benefits shall be filed with the Plan Administrator and resolved in accordance with the claims procedures in Article IX. 

  

	6.2	Withholding. The Employer shall have the right to withhold from any payment made under the Plan (or any amount deferred into the Plan) any taxes required by law to be
withheld in respect of such payment (or deferral). 

  

	6.3	Indemnification. The Company shall indemnify and hold harmless each employee, officer, director, agent or organization, to whom or to which is delegated duties,
responsibilities, and authority with respect to administration of the Plan, against all claims, liabilities, fines and penalties, and all expenses reasonably incurred by or imposed upon him or it (including but not limited to reasonable attorney
fees) which arise as a result of his or its actions or failure to act in connection with the operation and administration of the Plan to the extent lawfully allowable and to the extent that such claim, liability, fine, penalty, or expense is not
paid for by liability insurance purchased or paid for by the Company. Notwithstanding the foregoing, the Company shall not indemnify any person or organization if his or its actions or failure to act are due to gross negligence or willful misconduct
or for any such amount incurred through any settlement or compromise of any action unless the Company consents in writing to such settlement or compromise. 

  

 11 

 PSS WORLD MEDICAL, INC. 
 DIRECTORS’ DEFERRED COMPENSATION PLAN 
  

	6.4	Expenses. The expenses of administering the Plan shall be paid by the Company. 

  

	6.5	Delegation of Authority. In the administration of this Plan, the Plan Administrator may, from time to time, employ agents and delegate to them such administrative duties as
it sees fit, and may from time to time consult with legal counsel who may be legal counsel to the Company. 

  

	6.6	Binding Decisions or Actions. The decision or action of the Plan Administrator in respect of any question arising out of or in connection with the administration,
interpretation and application of the Plan and the rules and regulations thereunder shall be final and conclusive and binding upon all persons having any interest in the Plan. 

  
 ARTICLE VII 
  
 AMENDMENT AND
TERMINATION 
  

	7.1	Amendment and Termination. The Plan is intended to be permanent, but the Committee may at any time modify, amend, or terminate the Plan, provided that such modification,
amendment or termination shall not cancel, reduce, or otherwise adversely affect the amount of benefits of any Participant accrued (and any form of payment elected) as of the date of any such modification, amendment, or termination, without the
consent of the Participant. Notwithstanding the foregoing, the Committee shall be permitted upon Plan termination to instruct the Plan Administrator to pay each Participant (without such Participant’s consent) a lump sum in the amount of such
Participant’s Account Balance as of the date of such Plan termination. 

  

	7.2	Adverse Income Tax Determination. Notwithstanding anything to the contrary in the Plan, if any Participant receives a deficiency notice from the United States Internal
Revenue Service asserting constructive receipt of amounts payable under the Plan, or if legislation is passed which causes current income taxation of deferred amounts, Company contributions, and/or the investment earnings attributed thereto due to
any Participant withdrawal right or other Plan provision, the Committee, in its sole discretion, may terminate the Plan or such Participant’s participation in the Plan, and/or may declare null and void any Plan provision with respect to
affected Participants, and/or may make such distributions to Participants as the Committee, in its sole discretion, deems appropriate because of assertions of constructive receipt or other inclusion of deferrals in income of such Participant(s). In
addition, it is intended that this Plan comply with all provisions of the Internal Revenue Code and regulations 

  

 12 

 PSS WORLD MEDICAL, INC. 
 DIRECTORS’ DEFERRED COMPENSATION PLAN 
  

 and rulings in effect from time to time regarding the permissible deferral of compensation and taxes
thereon, and it is understood that this Plan does so comply. If the laws of the United States or of any relevant state are amended or construed in such a way as to make this Plan (or its intended deferral of compensation and taxes) in whole or in
part void, then the Deferred Compensation Committee, in its sole discretion, may choose to terminate the Plan or it may (to the extent it deems practicable) give effect to the Plan in such a manner as it deems will best carry out the purposes and
intentions of this Plan. 
  
 ARTICLE VIII 
  
 INFORMAL FUNDING

  

	8.1	General Assets. All benefits in respect of a Participant under this Plan shall be paid directly from the general funds of the Company, or a Rabbi Trust created by the Company
and funded by the Company for the purpose of informally funding the Plan, and other than such Rabbi Trust, if created, no special or separate fund shall be established and no other segregation of assets shall be made to assure payment. No
Participant, spouse or Beneficiary shall have any right, title or interest whatever in or to any investments which the Company may make to aid the Company in meeting its obligation hereunder. Nothing contained in this Plan, and no action taken
pursuant to its provisions, shall create or be construed to create a trust of any kind, or a fiduciary relationship, between the Company or any if its subsidiaries or affiliated companies and any Director, spouse, or Beneficiary. To the extent that
any person acquires a right to receive payments from the Company hereunder, such rights are no greater than the right of an unsecured general creditor of the Company. 

  

	8.2	Rabbi Trust. The Company may, at its sole discretion, establish a grantor trust, commonly known as a Rabbi Trust, as a vehicle for accumulating the assets needed to pay the
promised benefit, but the Company shall be under no obligation to establish any such trust or any other informal funding vehicle. 

  
 ARTICLE IX 
  
 GENERAL CONDITIONS 
  

	10.1	Anti-assignment Rule. No interest of any Participant, spouse or Beneficiary under this Plan and no benefit payable hereunder shall be assigned as security for a loan, and any
such purported assignment shall be null, void and of no effect, nor shall any such interest or any such benefit be subject in any manner, either voluntarily or involuntarily, to anticipation, sale, transfer, assignment or encumbrance by or through
any Participant, spouse or Beneficiary. 

  

 13 

 PSS WORLD MEDICAL, INC. 
 DIRECTORS’ DEFERRED COMPENSATION PLAN 
  

	10.2	No Legal or Equitable Rights or Interest. No Participant or other person shall have any legal or equitable rights or interest in this Plan that are not expressly granted in
this Plan. Participation in this Plan does not give any person any right to be retained in the service of the Company or any of its subsidiaries or affiliated companies. The right and power of the Company to dismiss or discharge a Director is
expressly reserved. 

  

	10.3	No Employment Contract. Nothing contained herein shall be construed to constitute a contract of employment between a Director and the Company. 

  

	10.4	Headings. The headings of Sections are included solely for convenience of reference, and if there is any conflict between such headings and the text of this Plan, the text
shall control. 

  

	10.5	Invalid or Unenforceable Provisions. If any provision of this Plan shall be held invalid or unenforceable, such invalidity or unenforceability shall not affect any other
provisions hereof and the Plan Administrator may elect in its sole discretion to construe such invalid or unenforceable provisions in a manner that conforms to applicable law or as if such provisions, to the extent invalid or unenforceable, had not
been included. 

  

	10.6	Governing Law. The laws of the State of Florida shall govern the construction and administration of the Plan. 

  
 IN WITNESS WHEREOF, the Company has caused this Plan to be adopted, effective as of
January 1, 2004. 
  

			
	PSS WORLD MEDICAL, INC.
		
	 By:
	 	  

	 Its:
	 	  

	 ATTEST:
	 	  

  

 14

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