Document:

<PAGE>

                                                                   EXHIBIT 10.50

                                                                  EXECUTION COPY

                                October 24, 2003

Ingram Funding Inc.
1610 East St. Andrew Place
Santa Ana, CA 92705

Ingram Micro Inc.
1600 East St. Andrew Place
Santa Ana, CA 92705

         Re:      The Pooling Agreement and the Series 1994-3 Supplement (each
                  as defined below)

Ladies and Gentlemen:

         Reference is hereby made to (i) that certain Ingram Funding Master
Trust Amended and Restated Pooling Agreement dated as of March 8, 2000, among
Ingram Funding Inc. ("Funding"), Ingram Micro Inc., as master servicer (the
"Master Servicer"), and JP Morgan Chase Bank (formerly known as The Chase
Manhattan Bank), as trustee (the "Trustee") (as the same may be amended,
restated, supplemented or otherwise modified from time to time, the "Pooling
Agreement"), and (ii) that certain Ingram Funding Master Trust Series 1994-3
Supplement dated as of March 8, 2000, among Funding, the Master Servicer and the
Trustee (as the same may be amended, restated, supplemented or otherwise
modified from time to time, the "Series 1994-3 Supplement"). Capitalized terms
not otherwise defined herein shall have the meanings ascribed thereto in the
Pooling Agreement or the Series 1994-3 Supplement, as the case may be.

         The Master Servicer has requested the consent of the Class A
Certificateholder to (1) terminate that certain Lockbox Agreement dated as of
March 8, 2000 among Funding, the Master Servicer, the Trustee and Bank of
America N.A. (the "Bank of America Lockbox Agreement"), (2) close the Lockbox
Accounts referred to in the Bank of America Lockbox Agreement (the "Bank of
America Lockbox Accounts") and (3) open new Lockbox Accounts at Fleet National
Bank (such Lockbox Accounts, the "Fleet Lockbox Accounts"). Each of the
undersigned parties hereby consents to (a) the termination of the Bank of
America Lockbox Agreement, (b) the closing of the Bank of America Lockbox
Accounts and (c) the opening of the Fleet Lockbox Accounts; provided that the
foregoing consent is conditioned upon the receipt by the Agent of a
fully-executed Lockbox Agreement with respect to the Fleet Lockbox Accounts in
the form attached hereto as Exhibit A.

<PAGE>

         Except as otherwise expressly provided herein, this letter agreement
shall not operate as a waiver of any Early Amortization Event, or of any right,
power, or remedy of the Class A Certificateholder or the Trustee under the
Pooling Agreement or the Series 1994-3 Supplement or any other applicable
Transaction Document; and the Pooling Agreement and the Series 1994-3 Supplement
and the other Transaction Documents shall remain in full force and effect and
are hereby ratified and confirmed.

         This letter agreement shall be governed by, and construed in accordance
with, the laws of the State of New York. This letter agreement may be executed
in any number of counterparts, each of which shall be deemed an original but all
of which together shall constitute one and the same instrument.

                                    Very truly yours,

                                    The Prudential Insurance Company of America,
                                    as Class A Certificateholder
                                    By: Prudential Investment Management, Inc.,
                                    as Investment Advisor

                                      By: /s/ Michael J. Bozzo
                                          -------------------------
                                      Name: Michael J. Bozzo
                                      Title: Vice President

Acknowledged and agreed to:

JPMORGAN CHASE BANK, not in its individual capacity but solely as Trustee

By: /s/ Joseph M. Costantino
    -------------------------------
    Name: Joseph M. Costantino
    Title: Trust Officer

                                       2<PAGE>

                                                                   EXHIBIT 10.51

                                                                  EXECUTION COPY

                                October 24, 2003

Ingram Funding Inc.
1610 East St. Andrew Place
Santa Ana, CA 92705

Ingram Micro Inc.
1600 East St. Andrew Place
Santa Ana, CA 92705

         Re:      The Pooling Agreement and the Series 2000-1 Supplement (each
                  as defined below)

Ladies and Gentlemen:

         Reference is hereby made to (i) that certain Ingram Funding Master
Trust Amended and Restated Pooling Agreement dated as of March 8, 2000, among
Ingram Funding Inc. ("Funding"), Ingram Micro Inc., as master servicer (the
"Master Servicer"), and JPMorgan Chase Bank (formerly known as The Chase
Manhattan Bank), as trustee (the "Trustee") (as the same may be amended,
restated, supplemented or otherwise modified from time to time, the "Pooling
Agreement"), and (ii) that certain Ingram Funding Master Trust Series 2000-1
Supplement dated as of March 8, 2000, among Funding, the Master Servicer,
Redwood Receivables Corporation, as the initial purchaser ("Redwood"), the
several financial institutions party thereto from time to time as liquidity
banks (the "Liquidity Banks"), General Electric Capital Corporation, as agent
for Redwood and the Liquidity Banks (the "Agent"), and the Trustee (as the same
may be amended, restated, supplemented or otherwise modified from time to time,
the "Series 2000-1 Supplement"). Capitalized terms not otherwise defined herein
shall have the meanings ascribed thereto in the Pooling Agreement or the Series
2000-1 Supplement, as the case may be.

         The Master Servicer has requested the consent of the Agent and Redwood
to (1) terminate that certain Lockbox Agreement dated as of March 8, 2000 among
Funding, the Master Servicer, the Trustee and Bank of America N.A. (the "Bank of
America Lockbox Agreement"), (2) close the Lockbox Accounts referred to in the
Bank of America Lockbox Agreement (the "Bank of America Lockbox Accounts") and
(3) open new Lockbox Accounts at Fleet National Bank (such Lockbox Accounts, the
"Fleet Lockbox Accounts"). Each of the undersigned parties hereby consents to
(a) the termination of the Bank of America Lockbox Agreement, (b) the closing of
the Bank of America Lockbox Accounts and (c) the opening of the Fleet Lockbox
Accounts; provided that the foregoing consent is conditioned upon the receipt by
the Agent of a fully-executed Lockbox Agreement with respect to the Fleet
Lockbox Accounts in the form attached hereto as Exhibit A.

<PAGE>

         Except as otherwise expressly provided herein, this letter agreement
shall not operate as a waiver of any Early Amortization Event, or of any right,
power, or remedy of Redwood, the Liquidity Banks, the Trustee or the Agent under
the Pooling Agreement or the Series 2000-1 Supplement or any other applicable
Transaction Document; and the Pooling Agreement and the Series 2000-1 Supplement
and the other Transaction Documents shall remain in full force and effect and
are hereby ratified and confirmed.

         This letter agreement shall he governed by, and construed in accordance
with, the laws of the State of New York. This letter agreement may be executed
in any number of counterparts, each of which shall be deemed an original but all
of which together shall constitute one and the same instrument.

                         Very truly yours,

                         GENERAL ELECTRIC CAPITAL CORPORATION,
                         as Agent and sole Liquidity Bank

                         By: /s/ Howard Bailey
                            ---------------------------------
                             Name: Howard Bailey
                             Title: Duly Authorized Signatory

                         REDWOOD RECEIVABLES CORPORATION,
                         as Initial Purchaser and as sole VFC Certificateholder

                         By: /s/ [ILLEGIBLE]
                             --------------------------
                             Name: [ILLEGIBLE]
                             Title: Assistant Secretary

                                       2
<PAGE>

Acknowledged and agreed to:

AMBAC ASSURANCE CORPORATION,
as Insurer

By: /s/ Nicholas G. Goumas
    ------------------------------
    Name: Nicholas G. Goumas
    Title: Managing Director

JPMORGAN CHASE BANK, not in its
individual capacity but solely as
Trustee

By: /S/ Joseph M. Costantino
    ------------------------------
    Name: Joseph M. Costantino
    Title: Trust Officer

                                       3<PAGE>

                                                                   EXHIBIT 10.52

                       EXECUTIVE OFFICER SEVERANCE POLICY

                              ADOPTED OCTOBER 2003

1.0      PURPOSE

         Provide eligible executive officers of the Company continuing financial
         security in the event the Company terminates their employment without
         "cause." This policy sets forth the terms and conditions regarding the
         payment of severance benefits for eligible executive officers.

2.0      APPLICABILITY

         This policy applies to (i) Ingram Micro's chief executive officer, (ii)
         executive officers of the Company elected by the Company's Board of
         Directors who report to either the chief executive officer or the chief
         operating officer of the Company, and (iii) such other executive
         officers elected by the Company's Board of Directors as the Human
         Resources Committee of the Board of Directors may determine from time
         to time in their discretion.

3.0      POLICY

         3.1      ELIGIBILITY - Eligible executive offers are entitled to the
                  severance benefits described in this policy if their
                  employment is terminated by the Company without "cause".
                  Eligible executive officers shall not be entitled to receive
                  severance benefits if their employment with the Company is
                  terminated (i) by the Company for "cause", (ii) due to their
                  resignation for any reason; (iii) due to their disability;
                  (iv) due to their retirement; or (v) as a result of their
                  death.

         3.2      BENEFITS - The following severance benefits will be provided
                  to eligible executive officers meeting the eligibility
                  criteria for severance set forth above:

                  3.2.1    The greater of:

                           3.2.1.1  The sum of: (i) the eligible executive
                                    officer's Base Salary in effect on the
                                    effective date of the termination of
                                    employment with the Company ("Effective
                                    Date"); and (ii) the executive officer's
                                    Target Annual Bonus in effect on the
                                    Effective Date; OR

                           3.2.1.2  The product of 1/12th times the sum of (i)
                                    the executive officer's Base Salary in
                                    effect on the Effective Date and (ii) the
                                    executive officer's Target Annual Bonus in
                                    effect on the Effective Date, multiplied by
                                    the number of full years' of employment with
                                    the Company.

                           3.2.1.3  Such amounts shall be payable in cash in
                                    equal installments at such times and in
                                    accordance with the applicable Company
                                    payroll periods over a period of months
                                    equal to the greater of (i) twelve (12); or
                                    (ii) the number of full years' of employment
                                    with the Company ("Continuation Period").
                                    All payments will be subject to applicable
                                    tax and related payroll withholding
                                    requirements.

                  3.2.2    An amount equal to the executive officer's unpaid
                           annual bonus established for the bonus plan year in
                           which the Effective Date occurs, multiplied by a
                           fraction, the numerator of which is the number of
                           days completed in the then
<PAGE>
                       EXECUTIVE OFFICER SEVERANCE POLICY

                              ADOPTED OCTOBER 2003

                           existing fiscal year through the Effective Date, and
                           the denominator of which is three hundred sixty-five
                           (365). This amount will be calculated and paid after
                           the close of the applicable fiscal year at such time
                           and in the same manner as annual bonus payments are
                           made to actively employed executive officers. This
                           amount will be calculated based on actual performance
                           achieved during the fiscal year relative to the
                           performance objectives set forth in the applicable
                           annual bonus plan.

                  3.2.3    Continuation of the Company-sponsored health and
                           welfare benefits of medical insurance, dental
                           insurance and vision insurance for the eligible
                           executive officer and enrolled dependents as of the
                           Effective Date through the "Continuation Period".
                           These benefits shall be available to the executive
                           officer at a cost equal to 100% of the Company's
                           premium rate for such plans as in effect as of the
                           Effective Date and shall be payable on a pre-tax
                           basis through payroll withholdings. In the event the
                           Company's premium costs change for the referenced
                           welfare benefits during the "Continuation Period",
                           the executive officer's cost for these benefits shall
                           change in a corresponding manner.

                  3.2.4    Participation in a Company paid outplacement program
                           for up to one year following the Effective Date, up
                           to a maximum cost to the Company of $20,000. The
                           selection of the outplacement assistance firm shall
                           be at the discretion of the Company. The executive
                           officer may not select a cash payment in lieu of this
                           benefit.

         3.3      EXECUTIVE PHYSICAL EXAMINATION PROGRAM - Participation in the
                  Company's Executive Physical Examination Program will cease on
                  the Effective Date.

         3.4      RETIREMENT PLANS - Participation in the Company's retirement
                  plan(s) and deferred compensation plan(s) will cease on the
                  Effective Date. Payment of accrued benefits and account
                  balances in these plans will be made in accordance with the
                  plans' provisions and the executive officer's distribution
                  election forms on file as of the Effective Date.

         3.5      STOCK AWARDS - Any unvested stock options, restricted stock
                  awards, or other stock-based incentive compensation awards
                  will be cancelled on the Effective Date. Vested stock options,
                  restricted stock awards, or other stock-based incentive
                  compensation awards shall be governed by the terms of the
                  plan(s) and award agreement(s) for each such award.
<PAGE>
                       EXECUTIVE OFFICER SEVERANCE POLICY

                              ADOPTED OCTOBER 2003

         3.6      LONG-TERM EXECUTIVE CASH INCENTIVE AWARD PROGRAM - The
                  executive officer's participation in the Company's Long-Term
                  Executive Cash Incentive Award Program shall cease on the
                  Effective Date. Payment(s) of earned awards shall be made in
                  accordance with the terms of the plan(s) and award
                  agreement(s) for each such award.

         3.7      MITIGATION OF BENEFITS - The executive officer will not be
                  obligated to seek other employment in mitigation of the
                  amounts payable or arrangements made under this policy.
                  Obtaining any other employment will in no event affect any of
                  the Company's obligations to make payments and arrangements
                  referenced within this policy.

         3.8      RELEASE AND COVENANT - The entitlement of the executive
                  officer to the severance benefits provided in this policy is
                  contingent upon the executive officer's execution of a release
                  and covenant agreement satisfactory to the Company which may
                  include, but is not limited to, confidentiality,
                  non-competition, non-solicitation, and no-raid provisions for
                  a period equal to the Continuation Period.

         3.9      EFFECT OF EMPLOYMENT CONTRACTS -- If an executive officer has
                  an employment agreement with the Company in force on the
                  Effective Date, he or she may elect to receive the severance
                  benefits and limitations provided for in such agreement or
                  those provided by the terms of this policy, but not both. Any
                  such election shall be in writing delivered to the Senior Vice
                  President, Human Resources of the Company. In the absence of
                  any such election, the terms of the executive officer's
                  employment agreement shall control.

         3.10     AUTHORITY - The provisions of this policy have been
                  established by the Human Resources Committee of the Board of
                  Directors of Ingram Micro Inc. The Committee maintains the
                  right to modify or terminate this policy at any time, with or
                  without prior notification.

4.0      RESPONSIBILITIES

5.0      PROCEDURES

6.0      RELATED DOCUMENTS

7.0      DEFINITIONS

         For purposes of this policy, the following terms will have the meanings
         set forth below:

         7.1      COMPANY - Company means Ingram Micro Inc., a Delaware
                  corporation, and its wholly owned subsidiaries and affiliates.
                  Company also means Ingram Micro Inc.'s predecessor companies
                  and their wholly-owned subsidiaries and affiliates.
<PAGE>
                       EXECUTIVE OFFICER SEVERANCE POLICY

                              ADOPTED OCTOBER 2003

         7.2      BASE SALARY - The fixed annual cash compensation that is
                  generally paid in substantially equal periodic payments over
                  the course of the 12-month period approximating the calendar
                  year.

         7.3      TARGET ANNUAL BONUS - The executive officer's annual base
                  salary in effect on the Effective Date multiplied by the
                  incentive award percentage applicable to such executive
                  officer's salary grade or position as specified in the
                  Company's annual Executive Incentive Award Plan in effect for
                  the fiscal year in which the Effective Date occurs.

7.4      TERMINATION FOR CAUSE - Refers to the occurrence of any one or more of
         the following:

         (i)      A willful and/or deliberate material act or failure to act
                  (other than as a result of incapacity due to physical or
                  mental illness), which is committed in bad faith, without
                  reasonable belief that such action or inaction is in the best
                  interests of the Company, and which act or inaction is not
                  remedied within fifteen (15) business days of written notice
                  from the Company;

         (ii)     Gross negligence in the performance of duties;

         (iii)    Conviction for committing an act of fraud, theft,
                  embezzlement, or any other act constituting a felony involving
                  moral turpitude.

8.0      REVISION HISTORY

         8.1      No prior revisions.

SIGNATURES

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