Document:

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                                                                    EXHIBIT 10.6

                                  INGRAM MICRO

                         401(k) INVESTMENT SAVINGS PLAN

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                 (Amended and Restated Effective April 1, 2005)

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                                TABLE OF CONTENTS

                                  INTRODUCTION
<TABLE>
<S>                                                                                          <C>
ARTICLE I         DEFINITIONS
1.1               "Account"                                                                   I-1
1.2               "Actual Deferral Percentage"                                                I-1
1.3               "Adjustment Factor"                                                         I-2
1.4               "Administrator"                                                             I-2
1.5               "After-Tax Contribution Account"                                            I-2
1.6               "After-Tax Contributions"                                                   I-2
1.7               "Annual Addition"                                                           I-2
1.8               "Average Actual Deferral Percentage"                                        I-3
1.9               "Average Contribution Percentage"                                           I-3
1.10              "Before-Tax Contribution Account"                                           I-3
1.11              "Before-Tax Contributions"                                                  I-3
1.12              "Beneficiary"                                                               I-3
1.13              "Board of Directors"                                                        I-3
1.14              "Catch-Up Contribution Account"                                             I-3
1.15              "Catch-Up Contributions"                                                    I-4
1.16              "Code"                                                                      I-4
1.17              "Company"                                                                   I-4
1.18              "Compensation"                                                              I-4
1.19              "Contribution Percentage"                                                   I-5
1.20              "Disability"                                                                I-6
1.21              "Effective Date"                                                            I-6
1.22              "Eligible Employee"                                                         I-6
1.23              "Employee"                                                                  I-7
1.24              "Employer"                                                                  I-8
1.25              "Entry Date"                                                                I-8
1.26              "ERISA"                                                                     I-9
1.27              "Excess Aggregate Contributions"                                            I-9
1.28              "Excess Contributions"                                                      I-9
1.29              "Excess Deferrals"                                                          I-9
1.30              "Fund" or "Investment Fund"                                                 I-9
1.31              "Highly Compensated Employee"                                               I-9
1.32              "Hour of Service"                                                          I-10
1.33              "Limitation Year"                                                          I-12
1.34              "Matching Contribution Account"                                            I-12
1.35              "Matching Contributions"                                                   I-12
1.36              "Non-highly Compensated Employee"                                          I-12
1.37              "Normal Retirement Age"                                                    I-12
1.38              "Participant"                                                              I-12
1.39              "Period of Service"                                                        I-12
</TABLE>

Ingram Micro Inc.                                                   Introduction
401(k) Investment Savings Plan

                                       I-i
<PAGE>

<TABLE>
<S>                                                                                         <C>
1.40          "Period of Severance"                                                           I-13
1.41          "Plan"                                                                          I-13
1.42          "Plan Year"                                                                     I-14
1.43          "QMAC"                                                                          I-14
1.44          "QMAC Account"                                                                  I-14
1.45          "QNEC"                                                                          I-14
1.46          "QNEC Account"                                                                  I-14
1.47          "Regulations"                                                                   I-14
1.48          "Rollover Account"                                                              I-14
1.49          "Rollover Contribution"                                                         I-14
1.50          "Severance Date"                                                                I-15
1.51          "Severance from Employment"                                                     I-15
1.52          "Spouse"                                                                        I-15
1.53          "Trust Agreement"                                                               I-15
1.54          "Trust Fund"                                                                    I-16
1.55          "Trustee"                                                                       I-16
1.56          "Valuation Date"                                                                I-16
1.57          "Year of Service"                                                               I-16
ARTICLE II    ELIGIBILITY AND PARTICIPATION
2.1           Eligibility                                                                     II-1
2.2           Beneficiary Designation                                                         II-1
2.3           Eligibility Upon Reemployment                                                   II-2
2.4           Transferred Employees                                                           II-2
2.5           Termination of Participation                                                    II-3
ARTICLE III   CONTRIBUTIONS AND ALLOCATIONS
3.1           Employee Contributions                                                         III-1
3.2           Employer Contributions                                                         III-4
3.3           Catch-Up Contributions                                                         III-5
3.4           Rollover Contributions                                                         III-6
3.5           Actual Deferral Percentage Test                                                III-7
3.6           Reductions During Plan Year                                                   III-10
3.7           Return or Recharacterization of Excess Contributions After End of Plan Year    III-9
3.8           Actual Contribution Percentage Test                                           III-12
3.9           Return of Excess Aggregate Contributions                                      III-14
3.10          Distribution of Excess Deferrals                                              III-16
3.11          Maximum Annual Additions                                                      III-17
3.12          Return of Contributions to Employer                                           III-20
3.13          Rights of Reemployed Veterans                                                 III-20
3.14          Early Participation Testing Rule                                              III-23
</TABLE>

Ingram Micro Inc.                                                   Introduction
401(k) Investment Savings Plan

                                      I-ii
<PAGE>

<TABLE>
<S>                                                                                        <C>
ARTICLE IV        MAINTENANCE AND VALUATION OF ACCOUNTS
4.1               Maintenance of Accounts                                                    IV-1
4.2               Valuation of Accounts                                                      IV-1
4.3               Account Statements                                                         IV-1
ARTICLE V         INVESTMENT OF CONTRIBUTIONS
5.1               Investment Funds                                                            V-1
5.2               Investment of Participant's Accounts                                        V-2
5.3               Responsibility for Investments                                              V-2
5.4               Changing Investment Elections - Future Contributions                        V-3
5.5               Transfer Among Funds                                                        V-3
ARTICLE VI        VESTING
6.1               Vesting in After-Tax Contribution, Before-Tax Contribution, Catch-Up
                    Contribution, QMAC, QNEC and Rollover Accounts                           VI-1
6.2               Vesting in Matching Contribution Account                                   VI-1
6.3               Forfeiture of Non-vested Interest                                          VI-2
6.4               Restoration of Forfeitures and Service                                     VI-2
ARTICLE VII       WITHDRAWALS AND LOANS DURING EMPLOYMENT
7.1               General Rules Applicable to All In-Service Withdrawals                    VII-1
7.2               Rollover Contribution Account Withdrawals                                 VII-1
7.3               Age 59 1/2 Withdrawals                                                    VII-1
7.4               Hardship Withdrawals                                                      VII-2
7.5               Loans to Participants                                                     VII-3
ARTICLE VIII      DISTRIBUTIONS UPON SEVERANCE FROM EMPLOYMENT
8.1               Eligibility for Distribution                                             VIII-1
8.2               Forms of Payment                                                         VIII-1
8.3               Timing of Payment                                                        VIII-1
8.4               Minimum Distribution Requirements                                        VIII-2
8.5               Special Timing Rules                                                     VIII-6
8.6               Proof of Death                                                           VIII-6
8.7               Direct Rollovers                                                         VIII-6
</TABLE>

Ingram Micro Inc.                                                   Introduction
401(k) Investment Savings Plan

                                     I-iii
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<TABLE>
<S>                                                                                        <C>
ARTICLE IX        TOP HEAVY PROVISIONS
9.1               When Applicable                                                            IX-1
9.2               Top Heavy Determination                                                    IX-1
9.3               Minimum Contribution                                                       IX-3
9.4               Vesting Rules                                                              IX-4
9.5               Dual Plan Special Limitations                                              IX-4
9.6               Aggregation Groups                                                         IX-4
9.7               Key Employee Defined                                                       IX-5
9.8               Determination Date                                                         IX-5
ARTICLE X         ADMINISTRATION OF PLAN
10.1              Records and Notices                                                         X-1
10.2              Powers and Duties                                                           X-1
10.3              Compensation and Expenses                                                   X-3
10.4              Bonding of Fiduciaries                                                      X-3
10.5              Standard of Conduct                                                         X-4
10.6              Claims Procedure                                                            X-5
ARTICLE XI        MANAGEMENT OF FUNDS
11.1              Appointment of Trustees                                                    XI-1
11.2              Investment of Trust Fund by Trustees                                       XI-1
11.3              Investment of Trust Fund by Investment Manager                             XI-2
11.4              Exclusive Benefit Rule                                                     XI-3
ARTICLE XII       AMENDMENT, MERGER, TERMINATION OF PLAN
12.1              Amendment of Plan                                                         XII-1
12.2              Merger or Consolidation                                                   XII-2
12.3              Additional Participating Employers                                        XII-2
12.4              Termination of Plan                                                       XII-3
ARTICLE XIII      MISCELLANEOUS PROVISIONS
13.1              Limitation of Liability                                                  XIII-1
13.2              Indemnification                                                          XIII-1
13.3              Compliance with ERISA                                                    XIII-2
13.4              Nonalienation of Benefits                                                XIII-2
13.5              Employment Not Guaranteed By Plan                                        XIII-3
13.6              Protected Benefits                                                       XIII-3
13.7              Form of Communication                                                    XIII-4
13.8              Facility of Payment                                                      XIII-4
13.9              Reduction for Overpayment                                                XIII-5
13.10             Unclaimed Benefits                                                       XIII-5
13.11             Receipt and Release                                                      XIII-6
13.12             Reliance on Information Provided to the Plan                             XIII-6
13.13             Service in More Than One Fiduciary Capacity                              XIII-6
13.14             Binding Effect of Company's Actions                                      XIII-7
13.15             Military Service                                                         XIII-7
</TABLE>

Ingram Micro Inc.                                                   Introduction
401(k) Investment Savings Plan

                                      I-iv
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<TABLE>
<S>                                                                                        <C>
13.16             Limitation on Rights                                                     XIII-7
13.17             Governing Law                                                            XIII-7
</TABLE>

Ingram Micro Inc.                                                   Introduction
401(k) Investment Savings Plan

                                       I-v
<PAGE>

                                  INGRAM MICRO
                         401(k) INVESTMENT SAVINGS PLAN

                                  INTRODUCTION

Ingram Micro Inc. has adopted this amendment and restatement of the Ingram Micro
401(k) Investment Savings Plan (the "Plan") effective as of April 1, 2005. The
Plan was last amended and restated in its entirety effective as of January 1,
1999 (the "1999 Restatement"). Among other changes, the 1999 Restatement changed
the name of the Plan from the Ingram Micro Thrift Plan to the Ingram Micro
401(k) Investment Savings Plan. The 1999 Restatement was subsequently amended by
the First, Second, Third and Fourth Amendments. The Second Amendment to the 1999
Restatement reflects certain provisions of the Economic Growth and Tax Relief
Reconciliation Act of 2001 ("EGTRRA"). Such Amendment is intended as good faith
compliance with the requirements of EGTRRA and is to be construed in accordance
with EGTRRA and guidance issued thereunder. Except as otherwise provided, such
Amendment is effective as of the first day of the first Plan Year beginning
after December 31, 2001. The Plan includes the provisions of such Second
Amendment and is intended to continue such good faith compliance with the
requirements of EGTRRA. The Plan is to be construed in accordance with EGTRRA
and guidance issued thereunder. Except as otherwise provided, Plan provisions
related to EGTRRA shall be effective as of the first day of the first Plan Year
beginning after December 31, 2001. The Plan was adopted effective as of November
6, 1996 as the Ingram Micro Thrift Plan and amended several times thereafter
prior to the 1999 Restatement.

The Plan is intended to provide eligible participants with a convenient way to
save on a regular and long-term basis, all as set forth herein and in the trust
agreement adopted as a part of the Plan. The benefits provided to any individual
under the Plan will depend upon the investment results achieved under such
agreement and, accordingly, may vary with respect to each individual. The Plan
is a profit-

Ingram Micro Inc.                                                   Introduction
401(k) Investment Savings Plan

<PAGE>
sharing plan which includes a cash or deferred arrangement and provides for
employer matching contributions. It is intended that the Plan and trust shall at
all times be qualified and tax-exempt within the meaning of Sections 401(a),
401(k), 401(m) and 501(a) of the Internal Revenue Code of 1986, as now in effect
or hereafter amended, and any other applicable provisions of law.

Ingram Micro Inc.                                                   Introduction
401(k) Investment Savings Plan

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                                    ARTICLE I
                                   DEFINITIONS

When used herein the following terms shall have the following meanings:

1.1   "Account" means the account or accounts established and maintained in
      respect of a Participant pursuant to Section 4.1.

1.2   "Actual Deferral Percentage" means, for a specified group of Participants
      (either Highly Compensated Employees or Non-highly Compensated Employees)
      for a Plan Year, the average of the ratios (calculated separately for each
      Participant in the group) of (1) the amount of Employer contributions
      actually paid over to the Trust on behalf of such Participant for the Plan
      Year to (2) the Participant's Compensation for the Plan Year.
      Compensation, for purposes of this Section 1.2, shall mean compensation
      within the meaning of Section 414(s) of the Code for the Plan Year.
      Employer contributions on behalf of any Participant shall include: (1) any
      Before-Tax Contributions (but not Catch-up Contributions) made pursuant to
      the Participant's deferral election (including Excess Deferrals of Highly
      Compensated Employees), but excluding (a) Excess Deferrals of Non-highly
      Compensated Employees that arise solely from Before-Tax Contributions made
      under the Plan or plans of the Employer and (b) Before-Tax Contributions
      that are taken into account in the Contribution Percentage test (provided
      the Actual Deferral Percentage test is satisfied both with and without
      these Before-Tax Contributions), and (2) any QNECs or QMACs that are taken
      into account in the Actual Deferral Percentage Test in accordance with
      Section 3.5. For purposes of calculating Actual Deferral Percentages, an
      Employee who would be a Participant but for the failure to make Before-Tax
      Contributions shall be treated as a Participant on whose behalf no
      Before-Tax Contributions are made.

Ingram Micro Inc.                                                    Article I-1
401(k) Investment Savings Plan

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1.3   "Adjustment Factor" means the cost of living adjustment factor prescribed
      by the Secretary of the Treasury under Section 415(d) of the Code, as
      applied to such items and in such manner as the Secretary shall provide.

1.4   "Administrator" (as defined in ERISA Section 3(16)(A)) means the Company
      which also shall be a named fiduciary (as defined in ERISA Section
      402(a)(2)).

1.5   "After-Tax Contribution Account" means the Account to which are credited a
      Participant's After-Tax Contributions and earnings and losses on those
      contributions.

1.6   "After-Tax Contributions" means amounts contributed by a Participant
      pursuant to Section 3.1(b) that were included or includible in the
      Participant's gross income at the time contributed.

1.7   "Annual Addition" means, for any Limitation Year, the sum of any Employer
      contributions, Employee contributions, forfeitures and amounts allocated
      to an individual medical account, as defined in Section 415(I)(2) of the
      Code, which is part of a pension or annuity plan maintained by the
      Employer. Also, amounts derived from contributions paid or accrued which
      are attributable to post-retirement medical benefits, allocated to a
      separate account of a Key Employee, as defined in Section 419A(d)(3) of
      the Code, under a welfare benefit fund, as defined in Section 419(e) of
      the Code, maintained by the Employer are treated as Annual Additions.
      Employee contributions, for this purpose, shall be determined without
      regard to any rollover contributions (as defined in Sections 402(c),
      403(a)(4), 403(b)(8), 408(d)(3), and 457(e)(16) of the Code) and without
      regard to Employer contributions to a simplified employee pension which
      are not excludable from gross income under Section 408(k)(6) of the Code.
      Section 415(c)(1)(B) shall not apply to any contribution

Ingram Micro Inc.                                                    Article I-2
401(k) Investment Savings Plan

<PAGE>

      for medical benefits (within the meaning of Section 419(f)(2) of the Code)
      after separation from service which is treated as an Annual Addition.

1.8   "Average Actual Deferral Percentage" means the average (expressed as a
      percentage) of the Actual Deferral Percentages of the Eligible Employees
      in a group.

1.9   "Average Contribution Percentage" means the average (expressed as a
      percentage) of the Contribution Percentages of the Eligible Employees in a
      group.

1.10  "Before-Tax Contribution Account" means the Account to which are credited
      Before-Tax Contributions made on behalf of a Participant pursuant to
      Section 3.1 and earnings or losses on those contributions.

1.11  "Before-Tax Contributions" means the contributions made to the Plan by the
      Employer on behalf of a Participant who has elected to reduce his
      Compensation by a like amount pursuant to Section 3.1(a).

1.12  "Beneficiary" means the beneficiary or beneficiaries designated pursuant
      to Section 2.2 to receive the amount, if any, payable under the Plan upon
      the death of a Participant.

1.13  "Board of Directors" means the Board of Directors of the Company.

1.14  "Catch-Up Contribution Account" means the account to which are credited
      Catch-Up Contributions made on behalf of a Participant pursuant to Section
      3.3 and earnings and losses on those contributions.

Ingram Micro Inc.                                                    Article I-3
401(k) Investment Savings Plan

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1.15  "Catch-Up Contributions" means the contributions made to the Plan by the
      Employer on behalf of a Participant in accordance with Section 3.3.

1.16  "Code" means the Internal Revenue Code of 1986, as now in effect or
      hereafter amended.

1.17  "Company" means Ingram Micro Inc. or any successor by merger,
      consolidation or otherwise.

1.18  "Compensation" means, with respect to each Participant for purposes of
      calculating and allocating contributions to the Plan, the total amount of
      Box 1 Form W-2 wages as base salary including commissions, shift
      differentials, over-time pay, annual bonuses, amounts paid under the
      Long-Term Executive Cash Incentive Award Program and special and incentive
      bonuses, but excluding benefits under the Plan, benefits under any other
      pension, profit sharing, stock bonus, phantom stock, nonstatutory stock
      option, hospitalization, life insurance, long-term disability, or other
      employee benefit plan (including without limiting the foregoing, the
      Ingram Micro Inc. Supplemental Investment Savings Plan), travel,
      entertainment, and other business expense allowances from which an
      accounting is made to the Company, living allowances, imputed income
      attributable to employer-provided group term life insurance and such
      other imputed non-cash income recognized as such by the Code and the
      Company for purposes of the Plan, any home sale costs, reimbursed moving
      costs, employer-reimbursed or employer-subsidized meals, employer
      payments for the use of his or her personal car for business purposes,
      location adjustments or any other similar supplemental type of pay,
      voluntary or involuntary cashouts under the Paid Time Off (PTO) Program,
      and severance pay (even if such severance pay takes the form of continued
      payroll compensation after the Participant actually no longer is
      performing services

Ingram Micro Inc.                                                    Article I-4
401(k) Investment Savings Plan

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      for the Company). Compensation shall include elective deferrals and any
      amount which is contributed by the Company pursuant to a salary reduction
      agreement, which is not includible in the gross income of the Employee
      under Code Section 125, 402(e)(3), 402(h), 403(b) or 132(f).

      The annual Compensation of each Participant taken into account for all
      Plan purposes shall not exceed $210,000, as adjusted by the Secretary of
      the Treasury for increases in the cost of living in accordance with
      Section 401(a)(17)(B) of the Code. The cost-of-living adjustment in
      effect for a calendar year applies to any period, not exceeding twelve
      (12) months, over which Compensation is determined (the "determination
      period") beginning in such calendar year. If a determination period
      consists of fewer than twelve (12) months, the limit referred to above
      will be multiplied by a fraction, the numerator of which is the number of
      months in the determination period and the denominator of which is 12.

      For other specific purposes described in the Plan, such as in Sections
      1.2, 1.19, 1.23, 1.31, 3.11, 3.13, 9.3 and 9.7, "Compensation" shall have
      the meanings set forth in the respective sections in which the term is
      referenced.

1.19  "Contribution Percentage" means the ratio (expressed as a percentage) of
      the Participant's After-Tax Contributions, Matching Contributions, QNECs
      and QMACs (to the extent not taken into account for purposes of the Actual
      Deferral Percentage test) made under the Plan on behalf of the Participant
      for the Plan Year to the Participant's Compensation for the Plan Year.
      Compensation, for purposes of this Section 1.19, shall mean compensation
      within the meaning of Section 414(s) of the Code for the Plan Year. For
      this purpose, Matching Contributions that are forfeited either to correct
      Excess Aggregate Contributions or because the contributions to which they
      relate are Excess Deferrals, Excess Contributions or Excess Aggregate
      Contributions

Ingram Micro Inc.                                                    Article I-5
401(k) Investment Savings Plan

<PAGE>

      shall not be included. The Employer may also elect to include Before-Tax
      Contributions, provided the Actual Deferral Percentage test is met before
      the Before-Tax Contributions are used in the Average Contribution
      Percentage and continues to be met following the exclusion of those
      Before-Tax Contributions that are used to meet the Average Contribution
      Percentage Test.

1.20  "Disability" means a physical or mental condition which entitles a
      Participant to benefits under the Employer's long-term disability plan.
      The Administrator will apply the provisions of this Section 1.20 in a
      nondiscriminatory, consistent and uniform manner.

1.21  "Effective Date" means April 1, 2005, the date as of which this amendment
      and restatement of the Plan is effective except as otherwise specifically
      provided herein. The original Effective Date of the Plan was November 6,
      1996.

1.22  "Eligible Employee" means any Employee maintained on the United States
      payroll of the Employer other than: (a) a leased employee within the
      meaning of Section 1.23, (b) any person who is included in a unit of
      employees covered by an agreement recognized for purposes of collective
      bargaining with the Employer, provided retirement benefits have been the
      subject of good faith bargaining and such bargaining does not provide for
      coverage under the Plan, (c) an Employee who is a nonresident alien
      deriving no earned income from the Employer which constitutes income from
      sources within the United States; and (d) an Employee who is employed on a
      temporary or nonpermanent basis, that is, hired for the duration of a
      particular project or projects, unless such Employee becomes eligible to
      participate in this Plan in accordance with Section 2.1(c).
      Notwithstanding any other provision of the Plan, the term 'Eligible
      Employee' shall not include any

Ingram Micro Inc.                                                    Article I-6
401(k) Investment Savings Plan

<PAGE>

      employee, independent contractor, leased employee or other individual
      unless such individual is contemporaneously treated by the Employer as an
      Employee for purposes of the Plan (without regard to any subsequent
      recharacterization or inconsistent determination made by any person or
      entity or by any court, agency or other authority with respect to such
      individual whenever effective).

1.23  "Employee" means any person employed by the Employer, other than an
      independent contractor or self-employed individual within the meaning of
      Section 401(c)(1) or an owner-employee within the meaning of Section
      401(c)(3). Employee shall also include any leased employee. The term
      'leased employee' means any person (other than an employee of the
      recipient) who, pursuant to an agreement between the recipient and any
      other person (the 'leasing organization'), has performed services for the
      recipient (or for the recipient and related persons determined in
      accordance with Section 414(n)(6) of the Code) on a substantially
      full-time basis for a period of at least one (1) year, and such services
      are performed under primary direction or control by the recipient.
      Contributions or benefits provided to a leased employee by the leasing
      organization which are attributable to services performed for the
      recipient employer shall be treated as provided by the recipient employer.

      A leased employee shall not be considered an Employee if: leased employees
      do not constitute more than twenty percent (20%) of the recipient's
      non-highly compensated workforce and the leased employee is covered by a
      money purchase pension plan providing (a) a nonintegrated employer
      contribution rate of at least ten percent (10%) of Compensation within the
      meaning of Section 415(c)(3) of the Code as defined in Section 3.11; (b)
      immediate participation; and (c) full and immediate vesting.

Ingram Micro Inc.                                                    Article I-7
401(k) Investment Savings Plan

<PAGE>

1.24  "Employer" means the Company and any subsidiary or affiliated organization
      of the Company that, with the approval of the Board of Directors and
      subject to such considerations as the Board of Directors may impose,
      adopts the Plan.

      In determining Compensation for the purposes of determining who is a
      leased employee under Section 1.23, in determining who is a Highly
      Compensated Employee under Section 1.31, in determining a Participant's
      Hours of Service, in determining whether an election to change the
      Limitation Year has been made in accordance with Section 1.33, in
      determining a Participant's Period of Service under Section 1.39, in
      determining a Participant's Severance Date under Section 1.50, in
      determining a Participant's Severance from Employment under Section 1.51,
      in determining the limitation on Before-Tax Contributions under Section
      3.1(b), in determining the Average Actual Deferral Percentages under
      Section 3.5 and the Average Contribution Percentages under Section 3.8, in
      determining the limitations on Annual Additions under Section 3.11, in
      determining the maximum loan in Section 7.5(f) and in determining whether
      the Plan is Top-Heavy under Article IX, the term "Employer" shall include
      any other corporation or other business entity that must be aggregated
      with the Employer under Section 414(b), (c), (m) or (o) of the Code, but
      only for such periods of time when the Employer and such other corporation
      or other business entity must be aggregated as aforesaid. For purposes of
      Section 3.11, such definition of "Employer" shall be modified by Section
      415(h) of the Code.

1.25  "Entry Date" means each business day of the year. Notwithstanding the
      above, in the case of an Employee described in Section 1.22(d), Entry Date
      means the date the Employee becomes eligible to participate in this Plan
      in accordance with Section 2.1(c).

Ingram Micro Inc.                                                    Article I-8
401(k) Investment Savings Plan

<PAGE>

1.26  "ERISA" means the Employee Retirement Income Security Act of 1974, as now
      in effect or as hereafter amended.

1.27  "Excess Aggregate Contributions" means After-Tax Contributions and
      Matching Contributions in excess of the Contribution Percentage limit, as
      described in Section 401(m)(6)(B) of the Code.

1.28  "Excess Contributions" means Before-Tax Contributions in excess of the
      Actual Deferral Percentage limit, as described in Section 401(k)(8)(B) of
      the Code.

1.29  "Excess Deferrals" means Before-Tax Contributions in excess of the limits
      imposed by Section 402(g) of the Code.

1.30  "Fund" or "Investment Fund" means the investment funds established under
      Article V, or any of them.

1.31  "Highly Compensated Employee" means any Employee who performs services for
      the Employer during the determination year and who (a) was a five percent
      (5%) owner, as defined in Section 9.7(a), during the determination year or
      look-back year, or (b), during the look-back year received Compensation
      from the Employer in excess of $90,000, multiplied by the Adjustment
      Factor, and, if the Employer so elects by Plan amendment, was in the 'top
      paid group' for the look-back year.

      For purposes of this definition, the determination year is the Plan Year;
      the look-back year is the twelve (12) month period preceding the Plan
      Year.

      An Employee is in the 'top paid group' if the Employee is one of the top
      twenty percent (20%) of Employees ranked by compensation. In determining
      the top

Ingram Micro Inc.                                                    Article I-9
401(k) Investment Savings Plan

<PAGE>

      paid group, any reasonable method of rounding or tie breaking is
      permitted. For purposes of determining the number of Employees in the top
      paid group for any year, Employees described in Section 414(q)(5) of the
      Code or applicable Regulations may be excluded.

      A highly compensated former Employee shall be treated as a Highly
      Compensated Employee if he separated from service (or is deemed to have
      separated) prior to the determination year, performs no service for the
      Employer during the determination year and was a highly compensated active
      Employee for either the separation year or any determination year ending
      on or after the Employee's 55th birthday.

      The determination of who is a Highly Compensated Employee, including the
      determination of the compensation that is considered, will be made in
      accordance with Section 414(q) of the Code and the Regulations thereunder.
      For purposes of this Section 1.31, Compensation means Compensation within
      the meaning of Section 415(c)(3) of the Code as defined in Section 3.11.

1.32  "Hour of Service" means:

(a)   each hour for which an Employee is directly or indirectly paid or entitled
      to payment for the performance of duties for the Employer;

(b)   each hour for which an Employee is directly or indirectly paid or entitled
      to payment by the Employer on account of a period during which no duties
      are performed, whether or not the employment relationship has terminated,
      due to vacation, holiday, illness, incapacity (including disability),
      layoff, jury duty, military duty or leave of absence, but not more than
      501 such hours on account of any single continuous period during which no
      duties are

Ingram Micro Inc.                                                   Article I-10
401(k) Investment Savings Plan

<PAGE>

      performed; and

(c)   each hour for which back pay, irrespective of mitigation of damages, has
      been awarded or agreed to by the Employer.

      No hours shall be credited on account of any period during which an
      Employee performs no duties and receives payment solely for the purpose of
      reimbursement for medical or medically related expenses incurred by the
      Employee for the purpose of complying with applicable worker's
      compensation, unemployment compensation or disability insurance laws.
      Solely to the extent required by the Family and Medical Leave Act of 1993
      (FMLA), an Employee shall be credited with Hours of Service while on a
      leave of absence protected under FMLA.

      The same Hours of Service shall not be credited under more than one of the
      above clauses (a), (b) or (c); and each hour credited to an Employee under
      clause (a), (b) or (c) above shall be credited in accordance with Section
      2530.200b-2(b) and (c) of the U.S. Department of Labor's Regulations,
      which hereby are incorporated by reference.

      Hours of Service shall be credited for any individual considered an
      Employee under Section 414(n) or Section 414(o) of the Code and the
      related Regulations. Pursuant to Section 414(n)(4)(B) of the Code, Hours
      of Service shall be determined by taking into account any period for which
      an Employee would have been a leased employee as defined in Section 1.23
      but for the fact that the Employee failed to perform services for the
      Employer on a substantially full-time basis for a period of at least one
      year.

Ingram Micro Inc.                                                   Article I-11
401(k) Investment Savings Plan

<PAGE>

1.33  "Limitation Year" means the calendar year, unless otherwise selected by
      the Employer in a manner consistent with that described in Section
      1.415-2(b)(2) of the Regulations.

1.34  "Matching Contribution Account" means the Account to which are credited
      any Matching Contributions made on behalf of the Participant and earnings
      or losses on those contributions.

1.35  "Matching Contributions" means the amounts contributed on behalf of a
      Participant pursuant to Section 3.2.

1.36  "Non-highly Compensated Employee" means an Employee who is not a Highly
      Compensated Employee.

1.37  "Normal Retirement Age" means the date the Participant attains age 65.
      However, if a Participant was first hired by the Employer on or after
      January 1, 1994, Normal Retirement Age means the later of: (a) the date
      the Participant attains age 65, and (b) the earlier of (i) the date the
      Participant completes five Years of Service, and (ii) the fifth
      anniversary of the date the Participant commenced participation in the
      Plan.

1.38  "Participant" means any Participant participating in the Plan as provided
      in Article II or any former Employee whose participation has not ceased
      pursuant to Section 2.5.

1.39  "Period of Service" means a period of employment with the Employer
      determined under the following rules:

      (a)  General Rule - An Employee's Period of Service begins on his
           Employment Commencement Date or Reemployment

Ingram Micro Inc.                                                   Article I-12
401(k) Investment Savings Plan

<PAGE>
            Commencement Date and ends on his Severance Date subject to the
            Service Spanning rules in Section 1.39(b).

      (b)   Service Spanning Rules - The Period of Service of an Employee
            who severs from service with the Employer by reason of retirement,
            quit or discharge, and who thereafter performs an Hour of Service
            within twelve months of his Severance Date shall include the
            intervening Period of Severance. The Period of Service of an
            Employee who severs from service by reason of retirement, quit or
            discharge occurring during an absence from service of twelve months
            or less which began for any reason other than retirement, quit or
            discharge, and who thereafter performs an Hour of Service within
            twelve months of the first day of such absence shall include the
            period intervening between his Severance Date and the date on which
            he again performs an Hour of Service.

      (c)   Employment or Reemployment

            Commencement Date- An Employee's Employment Commencement Date is the
            date on which an Employee is first credited with an Hour of Service.
            An Employee's Reemployment Commencement Date is the date on which an
            Employee who has incurred a Period of Severance that is not taken
            into account as a Period of Service first performs an Hour of
            Service following such Period of Severance.

1.40  "Period of Severance" means any period commencing on an Employee's
      Severance Date except as provided in Section 1.50.

1.41  "Plan" means the Ingram Micro Inc. 401(k) Investment Savings Plan, as set
      forth herein and as amended from time to time.

Ingram Micro Inc.                                                   Article I-13
401(k) Investment Savings Plan

<PAGE>

1.42  "Plan Year" means the twelve (12) month period commencing on each January
      1st on or after the Effective Date and ending on the next following
      December 31st.

1.43  "QMAC" means a qualified matching contribution made to the Plan pursuant
      to Section 3.8(f).

1.44  "QMAC Account" means the Account to which are credited QMACs made on
      behalf of a Participant pursuant to Section 3.8(f) and earnings or losses
      on those contributions.

1.45  "QNEC" means a qualified non-elective contribution made to the Plan
      pursuant to Section 3.5(f).

1.46  "QNEC Account" means the Account to which are credited QNECs made on
      behalf of a Participant pursuant to Section 3.5(f) and earnings or losses
      on those contributions.

1.47  "Regulations" means the Treasury regulations issued under the Code or any
      other applicable law by the Internal Revenue Service and any proposed or
      temporary regulations or rules pending the issuance of such regulations.

1.48  "Rollover Account" means the Participant's Account to which is credited
      any Rollover Contribution made by the Participant and earnings or losses
      on that contribution.

1.49  "Rollover Contribution" means a contribution made by a Participant
      pursuant to Section 3.4.

Ingram Micro Inc.                                                   Article I-14
401(k) Investment Savings Plan

<PAGE>

1.50  "Severance Date" means the earlier of (a) the date on which an Employee
      separates from service with the Employer by reason of his retirement,
      death, quit or discharge or (b) the first anniversary of the date on which
      the Employee begins an absence from active employment for any reason other
      than his retirement, death, quit or discharge. Solely for purposes of
      determining the extent of an Employee's Period of Severance, the Severance
      Date of an Employee who is absent from work for more than twelve months
      due to the pregnancy of the Employee, the birth of a child of the Employee
      or the placement of a child with the Employee in connection with the
      adoption of the child by the Employee or for purposes of caring for that
      child immediately following the child's birth or placement, shall be
      deemed to be the second anniversary of the first day of such absence. The
      period between the first and second anniversaries of the first day of such
      absence (or between the first anniversary and the date of the Employee's
      return to active employment if he returns before the second anniversary)
      shall be neither a Period of Service nor a Period of Severance.

1.51  "Severance from Employment" means the termination of the Employee's
      employment relationship with the Employer.

1.52  "Spouse" means the person to whom a Participant is legally married on the
      earlier of (a) the date on which the Participant's Account balances are
      distributed due to the Participant's Severance from Employment, or (b) the
      Participant's date of death.

1.53  "Trust Agreement" means the agreement entered into between the Company and
      the Trustee to carry out the purposes of the Plan.

Ingram Micro Inc.                                                   Article I-15
401(k) Investment Savings Plan

<PAGE>

1.54  "Trust Fund" means the assets of the Plan held in trust by the Trustee in
      accordance with the Trust Agreement.

1.55  "Trustee" means the trustee or trustees by whom the assets of the Plan are
      held in accordance with the Trust Agreement.

1.56  "Valuation Date" means any business day on which the New York Stock
      Exchange is open for and conducting business, or any more frequent date
      designated by the Administrator or the Trustee.

1.57  "Year of Service" means a Period of Service of 365 days, with less than
      whole year Periods of Service aggregated on the basis of days. A
      Participant shall receive a credit for a day of service for each day for
      which he is credited with an Hour of Service. A day of service counted in
      one Year of Service shall not be included in another Year of Service.

Wherever used herein, the singular includes the plural and the masculine
includes the feminine, unless the context clearly requires otherwise.

Ingram Micro Inc.                                                   Article I-16
401(k) Investment Savings Plan

<PAGE>

                                   ARTICLE II
                         ELIGIBILITY AND PARTICIPATION

2.1   Eligibility

(a)   Each Eligible Employee who was a Participant in the Plan on March 31, 2005
      shall continue to participate on the Effective Date.

(b)   Each other Eligible Employee shall be eligible to become a Participant on
      any Entry Date on or after the date on which he is first credited with an
      Hour of Service.

(c)   If an Employee described in Section 1.22(d) completes at least 1,000 Hours
      of Service in a computation period, the Employee shall be eligible to
      become a Participant on the earlier of the first day of the Plan Year
      beginning after the computation period, or six months after the completion
      of such computation period. For purposes of this Section 2.1(c),
      computation period means the twelve month period beginning on the
      Employee's date of hire or any Plan Year beginning after his date of hire.

2.2   Beneficiary Designation

      Each Participant may file a designation in accordance with procedures
      established by the Administrator naming as Beneficiary a person, persons
      or entity to receive benefits payable upon his death. A Participant may at
      any time revoke or change his Beneficiary designation by filing a new
      designation in accordance with procedures established by the
      Administrator. Any Beneficiary designation or revocation or change thereof
      naming as primary Beneficiary a person, persons or entity other than the
      Participant's Spouse must be made with the written consent of the

Ingram Micro Inc.                                                  Article II-17
401(k) Investment Savings Plan

<PAGE>

      Participant's Spouse acknowledging the effect of such designation,
      revocation or change and witnessed by a notary public. Written consent of
      the Participant's Spouse shall not be required if it is established in
      accordance with procedures established by the Administrator and applied on
      a uniform and nondiscriminatory basis that there is no Spouse, the Spouse
      cannot be located or under other circumstances as may be prescribed in
      Regulations. If the Participant is unmarried and fails to designate a
      Beneficiary or the Beneficiary does not survive the Participant, the
      benefits payable upon the death of the Participant will be paid to the
      Participant's estate.

2.3   Eligibility Upon Reemployment

      Any person reemployed by an Employer as an Eligible Employee shall again
      be eligible to become a Participant as of his date of rehire.

2.4   Transferred Employees

(a)   A Participant who remains in the employ of the Employer but ceases to be
      an Eligible Employee shall continue to be a Participant and shall be
      credited with Hours of Service, but he shall not be eligible to have
      Before-Tax Contributions, After-Tax Contributions, Catch-up Contributions
      or Employer contributions made on his behalf for as long as his employment
      status is other than that of an Eligible Employee. Any Compensation of
      such a Participant while he has an employment status other than that of an
      Eligible Employee shall be disregarded for all Plan purposes.

(b)   If an Employee transfers from an employment status with an Employer other
      than as an Eligible Employee and thereby becomes an Eligible Employee, he
      shall be eligible to become a Participant and have Before-

Ingram Micro Inc.                                                  Article II-18
401(k) Investment Savings Plan

<PAGE>

      Tax, After-Tax Contributions, Catch-up Contributions and Employer
      contributions made on his behalf as of the next following Entry Date.

2.5   Termination of Participation

      A Participant's participation shall cease upon distribution to him of his
      entire vested Account or upon his death prior to such distribution.

Ingram Micro Inc.                                                  Article II-19
401(k) Investment Savings Plan
<PAGE>

                                  ARTICLE III
                         CONTRIBUTIONS AND ALLOCATIONS

3.1   Employee Contributions

      An Eligible Employee who meets the requirements of Section 2.1 may make
      Before-Tax Contributions and/or After-Tax Contributions in accordance with
      the respective provisions of this Section 3.1.

(a)   Before-Tax Contributions

      (1)   An Eligible Employee who meets the requirements of Section 2.1 may,
            by advance notice in accordance with procedures prescribed by the
            Administrator, elect to have his subsequent Compensation reduced by
            means of payroll reduction as of any Entry Date and to have an equal
            amount contributed to the Plan on his behalf as Before-Tax
            Contributions. The reduction shall commence effective with the first
            payroll period that begins as soon as administratively practicable
            thereafter.

      (2)   An Eligible Employee who is not a Highly Compensated Employee may
            elect to make Before-Tax Contributions of up to fifty percent (50%)
            of his Compensation, in one percent (1%) increments, reduced by the
            amount of any After-Tax Contributions made on his behalf pursuant to
            Section 3.1(b).

      (3)   An Eligible Employee who is a Highly Compensated Employee may elect
            to make Before-Tax Contributions of up to the whole percentage of
            his Compensation designated as permissible by the Administrator,
            reduced by the amount of any After-Tax Contributions made on his

Ingram Micro Inc.                                                  Article III-1
401(k) Investment Savings Plan

<PAGE>

            behalf pursuant to Section 3.1(b). In no event shall the percentage
            so designated by the Administrator exceed the maximum percentage of
            Compensation that an Eligible Employee who is not a Highly
            Compensated Employee may elect to contribute for such Plan Year.

      (4)   In no event will the Before-Tax Contributions made on behalf of a
            Participant exceed the dollar limit in effect under Section 402(g)
            of the Code, reduced by the amount of the Participant's other
            Before-Tax Contributions made through the Employer for the calendar
            year.

      (5)   The percentage of contributions designated by a Participant pursuant
            to Section 3.1(a) shall automatically apply to increases and
            decreases in his Compensation. A Participant may, in accordance with
            applicable administrative procedures, change the percentage of his
            Compensation to be contributed to the Plan as Before-Tax
            Contributions as of any Entry Date. The change shall commence
            effective with the first payroll period that begins as soon as
            administratively practicable thereafter. The changed percentage
            shall remain in effect until subsequently changed.

      (6)   A Participant may, by giving advance notice in accordance with
            applicable administrative procedures, elect to suspend his
            Before-Tax Contributions at any time. The suspension shall commence
            effective with the next payroll period that begins as soon as
            administratively practicable thereafter. A Participant who has
            suspended his Before-Tax Contributions may, by giving advance notice
            in accordance with applicable administrative procedures, elect to
            resume making Before-Tax Contributions as of any Entry Date
            thereafter. The resumption shall commence effective with the first
            payroll period that begins as soon as administratively practicable
            thereafter.

Ingram Micro Inc.                                                  Article III-2
401(k) Investment Savings Plan

<PAGE>

      (7)   A Before-Tax Contribution may be taken into account for purposes of
            determining the Actual Deferral Percentage only if each of the
            following requirements is satisfied: (1) the Before-Tax Contribution
            is allocated to the Participant's Account as of a date within the
            Plan Year; and (2) the Before-Tax Contribution relates to
            Compensation that either (i) would have been received by the
            Participant in the Plan Year but for the Participant's election to
            defer, or (ii) is attributable to services performed by the
            Participant in the Plan Year and, but for the Participant's election
            to defer, would have been received by the Participant within two and
            one-half months after the close of the Plan Year. For purposes of
            (1), a Before-Tax Contribution is considered allocated as of a date
            within a Plan Year only if (i) the allocation is not contingent upon
            the Participant's participation in the Plan or performance of
            services on any date subsequent to that date, and (ii) the
            Before-Tax Contribution is actually paid to the Trust no later than
            the end of the twelve month period immediately following the Plan
            Year to which the Before-Tax Contribution relates.

      (8)   If Before-Tax Contributions are returned to the Employer under
            Section 3.12, the elections to reduce Compensation that were made by
            Participants on whose behalf those contributions were made shall be
            void retroactively to the beginning of the period for which returned
            contributions were made.

(b)   After-Tax Contributions

      (1)   An Eligible Employee who meets the requirements of Section 2.1 may,
            by advance notice in accordance with procedures prescribed by the

Ingram Micro Inc.                                                  Article III-3
401(k) Investment Savings Plan

<PAGE>

            Administrator, elect to contribute After-Tax Contributions to the
            Plan by means of payroll deduction as of any Entry Date.

      (2)   An Eligible Employee who is not a Highly Compensated Employee may
            elect to make After-Tax Contributions of up to fifty percent (50%)
            of his Compensation, in one percent (1%) increments, reduced by the
            amount of any Before-Tax Contributions made on his behalf pursuant
            to Section 3.1(a).

      (3)   An Eligible Employee who is a Highly Compensated Employee may elect
            to make After-Tax Contributions of up to the whole percentage of his
            Compensation designated as permissible by the Administrator, reduced
            by the amount of any Before-Tax Contributions made on his behalf
            pursuant to Section 3.1(a). In no event shall the percentage so
            designated by the Administrator exceed the maximum percentage of
            Compensation that an Eligible Employee who is not a Highly
            Compensated Employee may elect to contribute for such Plan Year.

3.2   Employer Contributions

      The Employer may make a Matching Contribution for each Participant who
      makes Before-Tax Contributions and/or After-Tax Contributions for the
      payroll period equal to fifty percent (50%) of the Participant's
      Before-Tax Contributions and/or After-Tax Contributions for the payroll
      period not exceeding five percent (5%) of the Participant's Compensation
      for the payroll period. Matching Contributions shall not be made on
      account of Catch-Up Contributions.

      For purposes of determining the Matching Contribution, if any, for a Plan
      Year, any amounts paid under the Annual Incentive Award Program and the

Ingram Micro Inc.                                                  Article III-4
401(k) Investment Savings Plan

<PAGE>

      Long-Term Executive Cash Incentive Award Program shall be excluded from
      Compensation.

      The Employer shall determine, in its absolute discretion, whether Matching
      Contributions shall be made for a Plan Year. The Employer is not required
      to contribute Matching Contributions for any Plan Year.

      Notwithstanding the foregoing, the Employer may discontinue Matching
      Contributions for Participants who are Highly Compensated Employees if it
      is determined that continuation of such contributions in accordance with
      this Section 3.2 might cause the Plan to exceed the limitations of Section
      401(m) of the Code and Section 3.8 of the Plan. The Employer, in its
      discretion, may make additional Matching Contributions with respect to
      Participants who are Non-highly Compensated Employees in the event such
      contributions are necessary to pass the Actual Contribution Percentage
      Test in Section 3.8.

3.3   Catch-Up Contributions

      Each Participant who has attained age 50 before the close of the Plan Year
      shall be eligible to make Catch-Up Contributions of up to twenty-five
      (25%) of Compensation in accordance with, and subject to, the limitations
      of Section 414(v) of the Code. Such Catch-Up Contributions shall not be
      taken into account for purposes of the provisions of the Plan implementing
      the required limitations of Sections 402(g) and 415 of the Code. The Plan
      shall not be treated as failing to satisfy the provisions of the Plan
      implementing the requirements of Section 401(k)(3), 401(k)(11),
      401(k)(12), 410(b), or 416 of the Code, as applicable, by reason of making
      such Catch-Up Contributions.

Ingram Micro Inc.                                                  Article III-5
401(k) Investment Savings Plan

<PAGE>

3.4   Rollover Contributions

(a)   An Eligible Employee may, by notice received by the Administrator and
      under such terms and conditions as the Administrator shall determine, make
      a Rollover Contribution to the Plan and Trust Fund. The Administrator may
      require the individual to submit such evidence and documentation as the
      Administrator determines necessary to be assured that the proposed
      contribution qualifies as a Rollover Contribution.

      A Rollover Contribution is (1) a distribution of an "eligible rollover
      distribution" (as defined in Section 402(c)(4) of the Code) from a
      qualified plan described in Section 401(a) or 403(a) of the Code, an
      annuity contract described in Section 403(b) of the Code or an eligible
      plan under Section 457(b) of the Code which is maintained by a state
      political subdivision of a state, or an agency or instrumentality of a
      state or political subdivision of a state, (2) a distribution from an
      individual retirement account or individual retirement annuity described
      in Section 408 of the Code that is eligible to be rolled over and would
      otherwise be includible as gross income, or (3) a direct rollover of an
      eligible rollover distribution from (i) a qualified plan described in
      Section 401(a) or 403(a) of the Code excluding after-tax employee
      contributions, (ii) an annuity contract described in Section 403(b) of the
      Code excluding after-tax employee contributions, or (iii) an eligible plan
      under Section 457(b)of the Code which is maintained by a state, political
      subdivision of a state, or an agency or instrumentality of a state of
      political subdivision of a State. Section 402(c)(9) shall apply in
      determining whether a distribution is a Rollover Contribution for purposes
      of Section 3.4.

Ingram Micro Inc.                                                  Article III-6
401(k) Investment Savings Plan

<PAGE>

(b)   A distribution described in (a)(1) or (2) above must be received by the
      Trust Fund on or before the 60th day following the Employee's receipt of
      the distribution from the distributing plan or contract.

(c)   The amount received pursuant to this Section 3.4 shall be transferred to
      the Trust Fund and credited to a separate Rollover Contribution Account
      maintained by the Administrator for the Employee in accordance with
      Article IV herein.

3.5   Actual Deferral Percentage Test

(a)   For the Plan Year, the Average Actual Deferral Percentage for the group of
      all Highly Compensated Employees who are Eligible Employees must satisfy
      at least one of the following tests:

      (1)   the Average Actual Deferral Percentage for said group of Highly
            Compensated Employees for that Plan Year shall not be more than the
            Average Actual Deferral Percentage for the group of Non-highly
            Compensated Employees who were Eligible Employees for the prior Plan
            Year multiplied by 1.25; or

      (2)   the Average Actual Deferral Percentage for said group of Highly
            Compensated Employees for that Plan Year shall not exceed two (2)
            percentage points more than the Average Actual Deferral Percentage
            for the group of Non-highly Compensated Employees who were Eligible
            Employees for the prior Plan Year, and the Average Actual Deferral
            Percentage for said group of Highly Compensated Employees for that
            Plan Year shall not be more than the Average Actual Deferral
            Percentage for the group of Non-highly Compensated Employees who
            were Eligible Employees for the prior Plan Year multiplied by 2.

Ingram Micro Inc.                                                  Article III-7
401(k) Investment Savings Plan

<PAGE>

      For Plan Years beginning on or after January 1, 2006, the Average Actual
      Deferred Percentage for the group of Non-highly Compensated Employees for
      purposes of the foregoing tests shall be based on the Average Actual
      Deferral Percentage for the group of Non-highly Compensated Employees who
      are eligible to participate in the Plan in the current Plan Year.

(b)   If Before-Tax Contributions are made to the Plan for a Plan Year for a
      Highly Compensated Employee who also is eligible to have salary reduction
      contributions allocated to his account under another plan maintained by
      the Employer that provides a cash or deferred arrangement described in
      Section 401(k) of the Code, the Actual Deferral Percentage for that
      Highly Compensated Employee shall be calculated as if all such other plans
      are part of the Plan. However, if a Highly Compensated Employee
      participates in two (2) or more cash or deferred arrangements that are
      parts of plans that have different plan years, the cash or deferred
      arrangements shall be treated as a single arrangement with respect to the
      plan years ending with or within the same calendar year.

(c)   If the Plan satisfies the requirements of Section 401(k), 401(a)(4) or
      410(b) of the Code only if aggregated with one or more other plans, or if
      one or more plans satisfy the requirements of such sections of the Code
      only if aggregated with the Plan, this Section 3.5 shall be applied by
      determining the Actual Deferral Percentages of Employees as if all such
      plans were a single plan. However, plans may be aggregated in order to
      satisfy Section 401(k) of the Code only if they have the same plan year.

(d)   For the purposes of satisfying the requirements of Section 401(k),
      401(a)(4) or 410(b) of the Code, the Plan may be disaggregated into two or
      more plans or the Plan may be aggregated with one or more other plans, to
      the extent

Ingram Micro Inc.                                                  Article III-8
401(k) Investment Savings Plan

<PAGE>

      permitted by Sections 401(k), 401(a)(4) and 410(b) of the Code and the
      Regulations thereunder.

(e)   For purposes of determining the Actual Deferral Percentage, Before-Tax
      Contributions must be made before the last day of the twelve (12)
      consecutive month period immediately following the Plan Year to which
      those contributions relate.

(f)   To enable the Plan to satisfy the test described in Section 3.5(a), the
      Employer may elect to make a QNEC to the Plan for each Plan Year in an
      amount, if any, that the Employer, in its sole discretion, determines. All
      QNECs will be one hundred percent (100%) vested and subject to the
      distribution requirements applicable to Before-Tax Contributions as
      described in Section 401(k)-1(d) of the Treasury Regulations. QNECs will
      be allocated to the Participant's QNEC Account as of the end of the Plan
      Year with respect to which the QNEC is made. QNECs will be paid to the
      Trustee after such contribution is authorized by the Employer but no later
      than twelve (12) months after the end of the Plan Year in which such
      contribution is allocated.

3.6   Reductions During Plan Year

      If, during the Plan Year, the Administrator determines that the Actual
      Deferral Percentage test provided in Section 3.5 is not met at the time of
      its review or would not be met if part or all of Before-Tax Contributions
      continue to be made on behalf of Participants who are Highly Compensated
      Employees, the Administrator, in its sole discretion, may reduce the rate
      (to zero (0) if necessary) of Before-Tax Contributions that would have
      been made during the remainder of the Plan Year. The Administrator may, in
      its sole and absolute discretion, limit or discontinue the Before-Tax
      Contributions of Highly Compensated Employees to comply with the
      contribution limits set forth herein.

Ingram Micro Inc.                                                  Article III-9
401(k) Investment Savings Plan

<PAGE>

3.7   Return or Recharacterization of Excess Contributions After End of Plan
      Year

(a)   If, after the last day of the Plan Year, the Administrator determines that
      the Average Actual Deferral Percentage requirements of Section 3.5 have
      not been satisfied, the Administrator, within two and one-half (2 1/2)
      months after the end of the Plan Year (but not later than the last day of
      the next Plan Year), shall distribute the Excess Contributions, adjusted
      for any income or loss, to all affected Participants who are Highly
      Compensated Employees. The Administrator shall calculate any Excess
      Contributions after determining the amount of Excess Deferrals pursuant to
      Section 3.10. The amount of Excess Contributions to be distributed shall
      be reduced by any Excess Deferrals previously distributed to the
      Participant for the tax year ending with or within the Plan Year. The
      amount of Excess Deferrals to be distributed for a tax year shall be
      reduced by any Excess Contributions previously distributed for the Plan
      Year beginning with or within the Participant's tax year.

(b)   The income or loss allocable to Excess Contributions for the Plan Year
      shall be determined by multiplying the income or loss allocable to the
      Participant's Before-Tax Contributions for the Plan Year by a fraction,
      the numerator of which is the Excess Contribution on behalf of the
      Participant for the Plan Year and the denominator of which is the
      Participant's Account balance attributable to Before-Tax Contributions on
      the last day of the Plan Year, without regard to any income or loss during
      the Plan Year. No income or loss shall be attributable to the period
      between the end of the Plan Year and the date of the distribution.

(c)   The amount of Excess Contributions for Highly Compensated Employees shall
      be determined as provided in this paragraph. First, the Actual Deferral
      Percentage of the Highly Compensated Employee with the highest such

Ingram Micro Inc.                                                 Article III-10
401(k) Investment Savings Plan

<PAGE>

      Percentage will be reduced to the extent necessary to satisfy the Actual
      Deferral Percentage test or cause the percentage for that Highly
      Compensated Employee to equal the percentage for the Highly Compensated
      Employee with the next highest such Percentage. Second, this process will
      be repeated until the Actual Deferral Percentage test is satisfied. The
      total of such Excess Contributions shall then be distributed to Highly
      Compensated Employees in descending order commencing with the Highly
      Compensated Employee with the highest dollar amount of Before-Tax
      Contributions and other contributions to be distributed in order to
      satisfy the Actual Deferral Percentage test, consistent with the
      provisions of Notice 97-2 issued by the Internal Revenue Service.

(d)   Excess Contributions distributed to Participants in accordance with this
      Section 3.7 shall be distributed in the following order: (1) from the
      Participant's Before-Tax Contribution Account, to the extent such
      Contributions are not subject to Matching Contributions, and (2) from the
      Participant's Before-Tax Contribution Account, to the extent such
      contributions are subject to Matching Contributions. If Excess
      Contributions are distributed to Participants in accordance with this
      Section 3.7, the Participant shall immediately forfeit all Matching
      Contributions that were made to match such distributed Excess
      Contributions.

(e)   For purposes of this Section 3.7, Excess Contributions means Before-Tax
      Contributions in excess of the Actual Deferral Percentage limit as
      described in Section 401(k)(8)(B) of the Code.

(f)   A Participant may elect to treat his or her Excess Contributions as an
      amount distributed to the Participant and then contributed by the
      Participant to the Plan as an After-Tax Contribution. Such recharacterized
      amounts will remain nonforfeitable and subject to the same distribution
      requirements as Before-

Ingram Micro Inc.                                                 Article III-11
401(k) Investment Savings Plan

<PAGE>

      Tax Contributions. Amounts may not be recharacterized by a Highly
      Compensated Employee to the extent that such amount in combination with
      other Participant contributions made by that Employee under all plans
      maintained by the Employer would exceed any stated limit under the Plan
      for Participant contributions. Excess Contributions may not be
      recharacterized under this paragraph any later than 2 1/2 months after the
      last day of the Plan Year in which the Excess Contributions arise.
      Recharacterization will be deemed to occur on the date the last Highly
      Compensated Employee is informed in writing of the amount to be
      recharacterized and the consequences thereof. Recharacterized amounts will
      be taxable to the Participant for the Participant's tax year in which the
      Participant would have received such amounts in cash.

3.8   Actual Contribution Percentage Test

(a)   For any Plan Year beginning before January 1, 2006, the Average
      Contribution Percentage for the group of all Highly Compensated Employees
      who are Eligible Employees must satisfy at least one of the following
      tests:

      (1)   The Average Contribution Percentage for said group of Highly
            Compensated Employees for that Plan Year shall not be more than the
            Average Contribution Percentage for the group of Non-highly
            Compensated Employees who were Eligible Employees for the prior Plan
            Year multiplied by 1.25; or

      (2)   The Average Contribution Percentage for said group of Highly
            Compensated Employees for that Plan Year shall not exceed 2
            percentage points more than the Average Contribution Percentage for
            the group of Non-highly Compensated Employees who were Eligible
            Employees for the prior Plan Year, and the Average Contribution
            Percentage for said group of Highly Compensated Employees for that

Ingram Micro Inc.                                                 Article III-12
401(k) Investment Savings Plan

<PAGE>

            Plan Year shall not be more than the Average Contribution Percentage
            for the group of Non-highly Compensated Employees who were Eligible
            Employees for the prior Plan Year multiplied by 2.

      For Plan Years beginning on or after January 1, 2006, the Average
      Contribution Percentage for the group of Non-highly Compensated Employees
      for purposes of the foregoing tests shall be based on the Average
      Contribution Percentage for the group of Non-highly Compensated Employees
      who are eligible to participate in the Plan in the current Plan Year.

(b)   If After-Tax and/or Matching Contributions are made to the Plan for a Plan
      Year for a Highly Compensated Employee who also is eligible to have
      after-tax contributions and/or matching contributions allocated to his
      account under another plan maintained by the Employer that is qualified
      under Section 401(a) of the Code, the Contribution Percentage for that
      Highly Compensated Employee shall be calculated as if all such other plans
      are part of the Plan. However, plans that are not permitted to be
      aggregated under Reg. Sec. 1.410(b)-7(c), as modified by Reg. Sec.
      1.401(k)-1(g)(11), are not aggregated for this purpose. If a Highly
      Compensated Employee participates in two or more plans that have different
      plan years, this Section 3.8 shall be applied by treating all plans that
      have plan years ending with or within the same calendar year as a single
      plan.

(c)   If the Plan satisfies the requirements of Sections 401(m), 401(a)(4) and
      410(b) of the Code only if aggregated with one or more other plans, or if
      one or more other plans satisfy the requirements of such sections of the
      Code only if aggregated with the Plan, this Section shall be applied by
      determining the Contribution Percentages of Employees as if all such plans
      were a single plan. However, plans may be aggregated in order to satisfy
      Section 401 (m) of the Code only if they have the same plan years.

Ingram Micro Inc.                                                 Article III-13
401(k) Investment Savings Plan

<PAGE>

(d)   For the purposes of satisfying the requirements of Section 401(m),
      401(a)(4) or 410(b) of the Code, the Plan may be disaggregated into two or
      more plans or the Plan may be aggregated with one or more other plans, to
      the extent permitted by Sections 401(m), 401(a)(4) and 410(b) of the Code
      and the Regulations thereunder.

(e)   For purposes of determining the Contribution Percentage, (i) After-Tax
      Contributions are considered to have been made in the Plan Year as of
      which they are contributed to the Trust Fund and (ii) Matching
      Contributions will be considered made for a Plan Year if made before the
      last day of the twelve (12) consecutive month period immediately following
      the Plan Year to which those contributions relate.

(f)   To enable the Plan to satisfy the test described in Section 3.8(a), the
      Employer may elect to make a QMAC to the Plan for each Plan Year in an
      amount, if any, as determined by the Employer in its sole discretion. All
      QMACs made pursuant to this Section 3.8(f) will be one hundred percent
      (100%) vested and subject to the distribution requirements applicable to
      Before-Tax Contributions as described in Section 1.401(k)-1(d) of the
      Treasury Regulations. QMACs will be allocated to the Participant's QMAC
      Account as of the end of the Plan Year with respect to which the QMAC is
      made. QMACs will be paid to the Trustee after such contribution is
      authorized by the Employer, but no later than twelve (12) months after the
      end of the Plan Year in which such contribution is allocated.

3.9   Return of Excess Aggregate Contributions

(a)   If, after the last day of the Plan Year, the Administrator determines that
      the Average Contribution Percentage requirements of Section 3.8 have not
      been

Ingram Micro Inc.                                                 Article III-14
401(k) Investment Savings Plan

<PAGE>

      satisfied, the Administrator, within two and one-half (2 1/2) months after
      the end of the Plan Year (but not later than the last day of the next Plan
      Year), shall first cause to be forfeited, if forfeitable, or if not
      forfeitable, distribute the Excess Aggregate Contributions, adjusted for
      any income or loss, to all affected Participants who are Highly
      Compensated Employees. The Administrator shall calculate any Excess
      Aggregate Contributions after determining the amount of Excess Deferrals
      pursuant to Section 3.10 and the amount of Excess Contributions pursuant
      to Section 3.7.

(b)   The income or loss allocable to Excess Aggregate Contributions for the
      Plan Year shall be determined by multiplying the income or loss allocable
      to Matching Contributions and After-Tax Contributions made on behalf of
      the Participant for the Plan Year by a fraction, the numerator of which is
      the Excess Aggregate Contribution on behalf of the Participant for the
      Plan Year and the denominator of which is the Participant's Matching
      Contribution Account and After-Tax Contribution Account balances on the
      last day of the Plan Year, without regard to any income or loss during the
      Plan Year. No income or loss shall be attributable to the period between
      the end of the Plan Year and the date of the distribution.

(c)   The amount of Excess Aggregate Contributions for Highly Compensated
      Employees shall be determined as provided in this Section 3.9. First, the
      Contribution Percentage of the Highly Compensated Employee with the
      highest such Percentage will be reduced to the extent necessary to satisfy
      the Contribution Percentage test or cause the percentage for that Highly
      Compensated Employee to equal the percentage for the Highly Compensated
      Employee with the next highest such Percentage. Second, this process will
      be repeated until the Contribution Percentage test is satisfied. The total
      of such Excess Aggregate Contributions to be distributed shall then be
      distributed to Highly Compensated Employees in descending order

Ingram Micro Inc.                                                 Article III-15
401(k) Investment Savings Plan

<PAGE>

      commencing with the Highly Compensated Employee with the highest dollar
      amount of Excess Aggregate Contributions and other contributions to be
      distributed in order to satisfy the Contribution Percentage test,
      consistent with the provisions of Notice 97-2 issued by the Internal
      Revenue Service.

(d)   Excess Aggregate Contributions forfeited in accordance with this Section
      3.9 shall be treated as Annual Additions under Section 3.11 and shall be
      applied to reduce subsequent Matching Contributions.

(e)   Excess Aggregate Contributions distributed to Participants in accordance
      with this Section 3.9 shall be distributed in the following order: (1)
      from the Participant's After-Tax Contribution Account, and (2) from the
      Participant's Matching Contribution Account.

3.10  Distribution of Excess Deferrals

(a)   A Participant may state a claim for the return of Excess Deferrals and
      such Excess Deferrals, adjusted for any income or loss, shall be
      distributed if administratively practicable no later than the April 15th
      following the calendar year for which such allocable Excess Deferrals are
      made. The Participant's claim shall be made in accordance with procedures
      established by the Administrator, shall be submitted to the Administrator
      no later than March 1st (or as late as April 14 if allowed by the
      Administrator), shall specify the Participant's Excess Deferrals for the
      preceding calendar year, and shall be accompanied by the Participant's
      statement that such amounts, if not distributed, will constitute Excess
      Deferrals.

(b)   The income or loss allocable to Excess Deferrals for the Plan Year shall
      be determined by multiplying the income or loss allocable to the
      Participant's Before-Tax Contributions for the Plan Year by a fraction,
      the numerator of

Ingram Micro Inc.                                                 Article III-16
401(k) Investment Savings Plan

<PAGE>

      which is the Excess Deferrals on behalf of the Participant for the Plan
      Year and the denominator of which is the Participant's Account
      attributable to Before-Tax Contributions on the last day of the Plan Year,
      without regard to any income or loss during the Plan Year. No income or
      loss shall be attributable to the period between the end of the Plan Year
      and the date of the distribution.

(c)   If Excess Deferrals have previously been distributed within the Plan
      Year, the Plan shall offset such distribution from the amount of the
      Participant's Excess Contributions, if any, to be distributed for such
      Plan Year. In addition, the amount of Excess Deferrals that may be
      distributed for a Participant by the Plan for a Plan Year shall be reduced
      by the amount of Excess Contributions previously distributed.

(d)   Excess Deferrals are Before-Tax Contributions in excess of the limit
      imposed by Section 402(g) of the Code.

(e)   Excess Deferrals shall be taken first from unmatched Before-Tax
      Contributions and then from matched Before-Tax Contributions. Any Matching
      Contributions attributable to refunded Excess Deferrals, adjusted for
      investment gain or loss, shall be forfeited and used in the manner
      described in Section 6.3.

3.11  Maximum Annual Additions

(a)   The Annual Addition to a Participant's Accounts for any Limitation Year,
      when added to the annual additions for such year under any other defined
      contribution plans (including voluntary employee contribution accounts in
      a defined benefit plan and key employee accounts under a welfare benefit
      plan described in Section 419 of the Code as well as employer
      contributions

Ingram Micro Inc.                                                 Article III-17
401(k) Investment Savings Plan

<PAGE>

      allocated to an IRA) maintained by the Employer, shall not exceed the
      lesser of:

      (1)   one hundred percent (100%) of the Participant's Compensation as
            defined in Section 415(c)(3) of the Code for that Limitation Year,
            or

      (2)   $42,000 multiplied by the Adjustment Factor.

      The Compensation limitation referred to in (1) shall not apply to any
      contribution for medical benefits after separation from service (within
      the meaning of Section 401(h) or 419A(f)(2) of the Code) which is
      otherwise treated as an Annual Addition.

      Effective January 1, 2005, Compensation as defined in Section 415(c)(3) of
      the Code means wages within the meaning of Section 3401(a) of the Code
      and all other payments of compensation to an Employee by the Employer (in
      the course of Employer's trade or business) for which the Employer is
      required to furnish the Employee a written statement under Sections
      6041(d), 6051(a)(3), and 6052 of the Code. Compensation must be determined
      without regard to any rules under Section 3401(a) that limit the
      remuneration included in wages based on the nature or location of the
      employment or the services performed (such as the exception for
      agricultural labor in Section 3401(a)(2) of the Code).

      Compensation for a Limitation Year is the compensation actually paid or
      made available during such Limitation Year.

      Compensation for a Participant in a defined contribution plan who is
      permanently and totally disabled (as defined in Section 22(e)(3) of the
      Code) is the compensation such Participant would have received for the
      Limitation

Ingram Micro Inc.                                                 Article III-18
401(k) Investment Savings Plan

<PAGE>

      Year if the Participant was paid at the rate of compensation paid
      immediately before becoming permanently and totally disabled.

      Compensation paid or made available during a Limitation Year shall include
      any elective deferral as defined in Section 402(g)(3) of the Code and any
      amount which is contributed or deferred by the Employer at the election of
      the Participant and which is not includible in the gross income of the
      Participant by reason of Section 125, 132(f)(4) or 457 of the Code.

      The Trustees shall, pursuant to the Administrator's directions, distribute
      the excess of a Participant's Annual Additions comprising (i) After-Tax
      Contributions and (ii) Before-Tax Contributions, in that order, over the
      limits stated above to the Participant in the event that such excess is
      caused by the allocation of forfeitures, a reasonable error in estimating
      a Participant's Compensation or in determining the amount of After-Tax
      Contributions and/or Before-Tax Contributions that may be made with
      respect to the Participant for the Plan Year or other circumstances
      approved by the Commissioner of Internal Revenue. Any contributions to be
      so distributed shall include any income but not any loss attributable
      thereto, to the extent permitted by Regulations, and the Participant shall
      immediately forfeit all Matching Contributions, including any income but
      not any loss attributable thereto, that were made to match such
      distributed After-Tax Contributions and/or Before-Tax Contributions. Such
      forfeited Matching Contributions shall be held unallocated in a suspense
      account and credited as part of Matching Contributions for the next and
      succeeding Limitation Years, as necessary, for all Participants in the
      Plan. Investment income less loss attributable to amounts held in such
      suspense account shall be similarly applied and shall be treated as Annual
      Additions when allocated to Participants' Accounts.

Ingram Micro Inc.                                                 Article III-19
401(k) Investment Savings Plan
<PAGE>

3.12  Return of Contributions to Employer

(a)   If all or part of the Employer's contributions hereunder are conditioned
      upon their deductibility under Section 404 of the Code and the deduction
      for all or any part of such contributions to the Plan is disallowed by the
      Internal Revenue Service, the portion of the contributions to which such
      disallowance applies shall be returned to the Employer without interest,
      but reduced by any investment loss attributable to those contributions.
      The return shall be made as soon as practicable within one (1) year after
      the disallowance. All Contributions to the Plan are conditioned on their
      deductibility.

(b)   If a contribution is made due to a mistake of fact, the Employer may
      require the Trustee to return the contribution, without interest but
      reduced by any investment loss allocable to the contribution. The return
      shall be made as soon as practicable within one (1) year after the date
      the contribution was made.

(c)   If, upon termination of the Plan, there remain Trust assets held in
      suspense accounts, the Trustee shall return such assets to the Employer.
      Notwithstanding the foregoing, the Employer may elect to reallocate the
      assets held in suspense accounts to those Employees who are Participants
      under the Plan as of the date of termination of the Plan in proportion to
      their Compensation.

3.13  Rights of Reemployed Veterans

      In accordance with Section 13.15, a Reemployed Veteran shall be entitled
      to the restoration of certain benefits under the Plan that would have
      accrued, or that he or she would have received, under the Plan but for his
      or her absence from the employ of the Employer due to Qualified Military

Ingram Micro Inc.                                                 Article III-20
401(k) Investment Savings Plan

<PAGE>

      Service. A Reemployed Veteran is defined as an Employee who left the
      employ of the Employer to perform service in the Armed Services of the
      United States, and subsequently was reemployed by the Employer pursuant to
      the Uniformed Services Employment and Reemployment Rights Act of 1994
      ("USERRA"). 'Qualified Military Service' is defined as service in the
      uniformed services (as defined in chapter 43 of title 38, United States
      Code) performed by the Reemployed Veteran whose entitlement to
      reemployment rights pursuant to USERRA arose with respect to such service.

(a)   Crediting of Period of Qualified Military Service

      To the extent required by USERRA and Section 414(u) of the Code, the
      Reemployed Veteran, for all purposes under the Plan, shall be credited
      Hours of Service for his or her absence from the employ of the Employer
      due to Qualified Military Service, in accordance with the regulations or
      other rules provided by the Internal Revenue Service.

(b)   "Make-Up" Contributions

      To the extent required by USERRA and Section 414(u) of the Code, the
      Reemployed Veteran shall be permitted to make additional contributions and
      receive related Matching Contributions during the period which (1) begins
      on the Reemployed Veteran's date of reemployment with the Employer, and
      (2) has the same length as the lesser of: (i) the period of Qualified
      Military Service multiplied by 3, or (ii) five (5) years.

      The maximum amount of additional contributions that the Reemployed Veteran
      is permitted to make is the maximum amount of such contributions that the
      Reemployed Veteran would have been permitted to make had he or she
      continued to be employed by the Employer during the period of Qualified

Ingram Micro Inc.                                                 Article III-21
401(k) Investment Savings Plan

<PAGE>

      Military Service and received Compensation. Compensation for purposes of
      this Section 3.13 shall be based on the rate of pay that the Reemployed
      Veteran would have received during the period of Qualified Military
      Service had he remained employed by the Employer. If such rate of pay was
      not reasonably certain, such Compensation shall be based on the Reemployed
      Veteran's average Compensation from the Employer during (1) the twelve
      (12) month period immediately before the Qualified Military Service, or
      (2) if shorter, the period of employment immediately before the Qualified
      Military Service.

      If any contribution is made by an Employer or an Employee under the Plan
      with respect to an Employee whose reemployment is governed by
      USERRA:

      (i)   Such contribution shall not be subject to any otherwise applicable
            limitation contained in Section 402(g), 402(h), 403(b), 404(a),
            404(h), 408, 415 or 457 of the Code and shall not be taken into
            account in applying such limitations to other contributions or
            benefits under such plan or any other plan, with respect to the year
            in which the contribution is made;

      (ii)  Such contribution shall be subject to the limitations referred to in
            (i) above with respect to the year to which the contribution relates
            (in accordance with rules prescribed by the Secretary of the
            Treasury); and

      (iii) The Plan shall not be treated as failing to meet the requirements of
            Section 401(a)(4), 401(a)(26), 401(k)(3), 401(k)(11), 401(k)(12),
            401(m), 403(b)(12), 408(k)(3), 408(k)(6), 408(p), 410(b) or 416 of
            the Code by reason of the making of (or the right to make) such
            contribution.

Ingram Micro Inc.                                                 Article III-22
401(k) Investment Savings Plan

<PAGE>
3.14  Early Participation Testing Rule

      If the Employer elects to apply Section 410(b)(4)(B) of the Code in
      determining whether the Plan satisfies the requirements of Section 410(b)
      of the Code, the Employer may, in determining whether the Plan meets the
      requirements of Section 3.5 and/or Section 3.8 exclude from consideration
      all Eligible Employees (other than Highly Compensated Employees) who have
      not met the minimum age and service requirements of Section 410(a)(1)(A)
      of the Code.

Ingram Micro Inc.                                                 Article III-23
401(k) Investment Savings Plan

<PAGE>

                                   ARTICLE IV
                      MAINTENANCE AND VALUATION OF ACCOUNTS

4.1   Maintenance of Accounts

      A separate After-Tax Contribution Account, Before-Tax Contribution
      Account, Catch-Up Contribution Account, Matching Contribution Account, and
      if necessary, QMAC Account, QNEC Account and Rollover Contribution Account
      shall be maintained for each Participant as well as any other accounts or
      subaccounts as the Administrator deems necessary or desirable.

4.2   Valuation of Accounts

      As of each Valuation Date, the Accounts of each Participant shall be
      adjusted to reflect contributions, withdrawals, distributions, income
      earned or accrued, expenses paid from the assets of the Plan and any
      increase or decrease in the fair market value of the assets of the Plan
      since the preceding Valuation Date.

4.3   Account Statements

      At least once a year, each Participant shall be furnished with a statement
      stating the dollar value of his Accounts and the vested portion of his
      Accounts.

Ingram Micro Inc.                                                   Article IV-1
401(k) Investment Savings Plan

<PAGE>

                                    ARTICLE V
                          INVESTMENT OF CONTRIBUTIONS

5.1   Investment Funds

(a)   The Administrator from time to time shall direct the Trustee to establish
      and maintain one or more Investment Funds, hereinafter referred to as
      Funds, for the investment of assets of the Trust Fund. The number and type
      of Funds shall be determined by the Administrator, which may, in its
      discretion, direct the Trustee to establish and maintain one or more
      additional Funds or to delete one or more existing Funds.

(b)   Pending the investment of any amounts in a Fund, the Trustee may invest
      assets of the Trust Fund temporarily in interest-bearing accounts,
      certificates of deposit, Treasury bills, commercial paper, money market
      funds, short-term obligations of the United States Government, short-term
      investment funds or other short-term obligations selected by the Trustee.
      The Trustee may keep such amounts of cash as it, in its sole discretion,
      shall deem necessary or advisable as part of such Funds, all within the
      limitations specified in the Trust Agreement.

(c)   All interest, dividends and proceeds from the disposition of and other
      income received with respect to assets held with respect to each of the
      Funds shall be reinvested in the respective Fund and all expenses of the
      Trust that are properly allocable to a particular Fund shall be so
      allocated and charged.

Ingram Micro Inc.                                                    Article V-1
401(k) Investment Savings Plan

<PAGE>

5.2   Investment of Participant Accounts

      A Participant may, in accordance with applicable administrative
      procedures, specify the percentages of his Accounts that shall be invested
      in each Fund maintained under the Plan. If a Participant fails to make an
      election pursuant to this Section 5.2, all of his Accounts shall be
      invested in the Fund that the Administrator determines, in its sole
      discretion, is consistent with the prudent discharge of its fiduciary
      duties. A Participant may not invest more than fifty percent (50%) of his
      Before-Tax Contributions and After-Tax Contributions in the Ingram Micro
      Stock Fund. Rollover Contributions may not be invested in the Ingram Micro
      Stock Fund.

5.3   Responsibility for Investments

      Each Participant is solely responsible for the selection of his investment
      options. The Trustee, the Administrator, the Employer and the officers,
      supervisors and other employees of the Employer are not empowered to
      advise a Participant as to the manner in which his Accounts shall be
      invested. The fact that a particular Fund is available to Participants for
      investment under the Plan shall not be construed as a recommendation for
      investment in that Fund. The Trustee shall be the named fiduciary for the
      purposes of carrying out the Participant's investment instructions.

Ingram Micro Inc.                                                    Article V-2
401(k) Investment Savings Plan

<PAGE>

5.4   Changing Investment Elections - Future Contributions

      A Participant may, in accordance with applicable administrative
      procedures, change his investment election as to subsequent contributions,
      subject to the limitations of Section 5.2, as of any Valuation Date.

5.5   Transfer Among Funds

      A Participant may, in accordance with applicable administrative procedures
      and subject to any restrictions that may imposed by particular Funds,
      elect to transfer all or a portion of the balance in all of his Accounts
      between and among Funds as of any Valuation Date. The Employer, however,
      reserves the right, in its sole discretion, to implement reasonable
      restrictions on a Participant's right to transfer among Funds. A
      Participant is not permitted to transfer other investment options to the
      Ingram Micro Stock Fund.

      A Participant is permitted to transfer all or any portion of his
      investment in the Ingram Micro Stock Fund in five percent (5%) increments
      out of that Fund and into other investment options. A Participant who is
      subject to Rule 16b-3 of the Securities and Exchange Commission or who is
      designated by the Employer as a window group person is only permitted to
      transfer contributions invested in the Ingram Micro Stock Fund out of that
      Fund during a special open window period established by the Employer.

Ingram Micro Inc.                                                    Article V-3
401(k) Investment Savings Plan

<PAGE>

                                   ARTICLE VI
                                     VESTING

6.1   Vesting in After-Tax Contribution, Before-Tax Contribution, Catch-Up
      Contribution, QMAC, QNEC and Rollover Accounts

      A Participant shall at all times have a one hundred percent (100%)
      nonforfeitable vested right to the value of his After-Tax Contribution,
      Before-Tax Contribution Account, Catch-Up Contribution Account, QMAC
      Account, QNEC Account and Rollover Account.

6.2   Vesting in Matching Contribution Account

(a)   A Participant shall have a nonforfeitable vested right to the value of his
      Matching Contribution Account in accordance with the following schedule:

<TABLE>
<CAPTION>
YEARS OF SERVICE                                 VESTED PERCENTAGE
----------------                                 -----------------
<S>                                              <C>
Less than 1 year                                         0
1 year but less than 2                                  20
2 years but less than 3                                 40
3 years but less than 4                                 60
4 years but less than 5                                 80
5 or more years                                        100
</TABLE>

Ingram Micro Inc.                                                   Article VI-1
401(k) Investment Savings Plan

<PAGE>

(b)   Notwithstanding the provisions of (a) above, a Participant shall have a
      one hundred percent (100%) nonforfeitable vested right to the value of his
      Matching Contribution Account upon the occurrence of any of the following
      events prior to his Severance from Employment: (1) Normal Retirement Age,
      (2) Disability, (3) death, or (4) in accordance with Section 12.4.

6.3   Forfeiture of Non-vested Interest

      Upon a Participant's Severance from Employment, the non-vested portion of
      a Participant's Matching Contribution Account shall be forfeited at the
      earlier of the date he receives a distribution of the vested portion of
      his Account or the date he incurs five (5) consecutive One-Year Breaks in
      Service. For purposes of this Article VI, a One-Year Break in Service
      means a twelve (12) consecutive month period beginning on an Employee's
      Severance Date or an anniversary thereof and ending on the first
      anniversary of such date during which the Participant does not receive
      credit for an Hour of Service. The Administrator shall apply all
      forfeitures by first restoring the amount of previous forfeitures, in
      accordance with Section 6.4(b) or (c), then by reducing the amount of
      Employer contributions required under the Plan for the then current Plan
      Year and allocating such forfeitures in a manner consistent with Section
      3.2, and, finally, by paying reasonable administrative expenses to the
      extent not paid by the Employer.

6.4   Restoration of Forfeitures and Service

(a)   If a former Participant whose Severance from Employment resulted in a
      forfeiture of the entire non-vested portion of his Account pursuant to
      Section 6.3 resumes participation in the Plan after at least five (5)
      consecutive One-Year Breaks in Service, with respect to Matching
      Contributions, he shall have

Ingram Micro Inc.                                                   Article VI-2
401(k) Investment Savings Plan

<PAGE>

      no right to restoration of any previously forfeited portion of his
      Account. Such Participant's Years of Service or period of employment after
      the break in service or period of absence shall not be taken into account
      in determining the Participant's vested nonforfeitable right to the value
      of his Matching Contribution Account attributable to contributions made by
      the Employer before he resumed participation in the Plan.

(b)   If a former Participant (1) whose Severance from Employment resulted in a
      forfeiture of the entire non-vested portion of his Account pursuant to
      Section 6.3 did not receive a distribution pursuant to Section 8.3 and
      resumes employment as an Eligible Employee or (2) whose Severance from
      Employment resulted in a forfeiture of the entire non-vested portion of
      his Account pursuant to Section 6.3 resumes employment as an Eligible
      Employee, in either case prior to incurring five (5) consecutive One-Year
      Breaks in Service, the previously forfeited portion of his Account shall
      be restored upon his Reemployment Commencement Date. Such Participant's
      Years of Service or period of employment before and after the break in
      service shall be taken into account in determining the Participant's
      vested nonforfeitable right to the value of his Matching Contribution
      Account.

(c)   If a former Participant whose Severance from Employment resulted in a
      forfeiture of the entire non-vested portion of his Account pursuant to
      Section 6.3 received a distribution pursuant to Section 8.3 and resumes
      employment as an Eligible Employee prior to incurring five (5) consecutive
      One-Year Breaks in Service, the previously forfeited portion of his
      Account shall be restored upon the date on which the Participant repays in
      cash to the Plan the full amount of the distribution, in accordance with
      applicable administrative procedures. Such repayment must be made prior to
      the earlier of (i) the end of the five (5) year period commencing on the
      Participant's Reemployment Commencement Date or (ii) the close of the
      first period of five consecutive

Ingram Micro Inc.                                                   Article VI-3
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      One-Year Breaks in Service. Such Participant's Years of Service before and
      after the Break in Service shall be taken into account in determining the
      Participant's vested nonforfeitable right to the value of his Matching
      Contribution Account.

Ingram Micro Inc.                                                   Article VI-4
401(k) Investment Savings Plan

<PAGE>

                                   ARTICLE VII
                     WITHDRAWALS AND LOANS DURING EMPLOYMENT

7.1   General Rules Applicable to all In-Service Withdrawals

      The only in-service withdrawals permitted by the Plan are those described
      in this Article VII.

      Each in-service withdrawal request must be filed in accordance with
      applicable administrative procedures. Each withdrawal shall be determined
      as of the Valuation Date as soon as practicable after the withdrawal
      request is approved and shall be drawn, to the extent available, pro rata
      from the Investment Funds in which the Account is invested or in which the
      Accounts are invested if the withdrawal is taken from multiple Accounts.
      Only a Participant who has not incurred a Severance from Employment may
      request an in-service withdrawal.

7.2   Rollover Contribution Account and After-Tax Contribution Account
      Withdrawals

      A Participant may, in accordance with applicable administrative
      procedures, request a withdrawal of all or any portion of his Rollover
      Contribution Account and/or his After-Tax Contribution Account at any
      time. The Participant may make only two withdrawals from his After-Tax
      Contribution Account and two withdrawals from his Rollover Contribution
      Account in any Plan Year.

7.3   Age 59 1/2 Withdrawals

      A Participant who has attained age 59 1/2 may, in accordance with
      applicable administrative procedures, request a withdrawal of all or any
      portion of his

Ingram Micro Inc.                                                  Article VII-1
401(k) Investment Savings Plan

<PAGE>

      vested Account each quarter. A withdrawal pursuant to this Section 7.3
      shall not affect the Participant's continued participation in the Plan.

7.4   Hardship Withdrawals

(a)   A Participant who has suffered a Hardship may request a withdrawal of all
      or any portion of the value of his Before-Tax Contribution Account
      (excluding all earnings comprising part of such Account that were credited
      after 1988), his Catch-Up Contribution Account and his vested Matching
      Contribution Account. For purposes of this Section 7.4, Hardship means an
      immediate and heavy financial need, as determined by the Administrator on
      a uniform and nondiscriminatory basis, that arises on account of (a)
      expenses for (or necessary to obtain) medical care that would be
      deductible under Section 213(d) of the Code (determined without regard to
      whether the expenses exceed 7.5% of adjusted gross income), (b) the
      purchase (excluding mortgage payments) of a principal residence for the
      Participant, (c) tuition expenses for the next twelve (12) month period of
      post-secondary education for the Participant, his Spouse, or any
      dependents of the Participant (as defined in Section 152 of the Code but
      without regard to Section 152(d)(1)(B) of the Code)), (d) the need to
      prevent the eviction of the Participant from his principal residence or
      foreclosure on the mortgage of the Participant's principal residence, (e)
      any other immediate and heavy financial need that the Administrator, in
      its sole discretion, determines qualifies as a Hardship, and effective for
      Hardships incurred on or after January 1, 2006, (f) burial or funeral
      expenses for the Participant's deceased parent, spouse, children or
      dependents (as defined in Section 152 of the Code but without regard to
      Section 152(d)(1)(B) of the Code), or (g) the repair of damage to the
      Participant's principal residence that would qualify for the casualty
      deduction under Section 165 of the Code (determined without regard to
      whether the loss exceeds 10% of adjusted gross income). A Participant may
      make two Hardship withdrawals in each calendar year.

Ingram Micro Inc.                                                  Article VII-2
401(k) Investment Savings Plan

<PAGE>

(b)   Before requesting a withdrawal pursuant to this Section 7.4, a Participant
      must first obtain all distributions, other than hardship distributions,
      and all nontaxable loans currently available to him under all qualified
      plans maintained by the Employer.

(c)   The amount of any Hardship withdrawal shall not exceed the amount required
      to meet the immediate and heavy financial need created by the hardship,
      including the amount necessary to pay any income taxes and related
      penalties resulting from the distribution. The determination of the
      existence of the financial need and the amount necessary to meet that need
      shall be made by the Administrator in accordance with objective standards
      on a uniform and nondiscriminatory basis.

(d)   A Participant who obtains a Hardship withdrawal pursuant to this Section
      7.4 shall be prohibited from making Before-Tax, After-Tax and Catch-Up
      Contributions to the Plan and to all other plans maintained by the
      Employer for six (6) months from the date of the withdrawal.

(e)   Any Hardship withdrawal made pursuant to this Section 7.4 shall be taken
      to the extent available, prorata from the Investment Funds in which the
      following are invested in this order: vested Matching Contribution
      Account, Before-Tax Contribution Account and Catch-up Contribution
      Account. All Hardship withdrawal payments shall be made in a lump sum in
      cash as soon as practicable after the Administrator makes its
      determination.

7.5   Loans to Participants

(a)   Loans

      The Administrator or its delegate may, in accordance with a uniform and
      nondiscriminatory policy, direct the Trustee to loan a Participant amounts
      from

Ingram Micro Inc.                                                  Article VII-3
401(k) Investment Savings Plan

<PAGE>

      the vested portion of his Accounts. All loans shall be in accordance with
      the terms, conditions, requirements and limitations specified in this
      Section 7.5 and any separate written document adopted by the Administrator
      and forming part of the Plan. It is intended that all loans made to
      Participants under this Section 7.5 shall meet the requirements of Section
      72(p) of the Code.

(b)   Loan Administration

      The loan provision of the Plan shall be administered on a uniform and
      nondiscriminatory basis in accordance with terms and conditions
      established by the Administrator. The Administrator is authorized to
      delegate to the Trustee the authority to review loan requests, execute
      loan agreements and collect loan payments.

      In administering the loan provisions of this Section 7.5, the
      Administrator or its delegate shall:

      (1)   adopt such rules and regulations as it deems necessary for the
            proper and efficient administration of loans, including, but not
            limited to, appropriate adjustments in the accounting provisions of
            the Plan as it deems necessary and advisable to facilitate and
            account for loans;

      (2)   establish standards that shall be used to determine if a loan
            request should be approved;

      (3)   determine how the interest rate to be charged on outstanding loans
            is to be calculated and when the rate to be charged for new loans is
            to be changed;

      (4)   determine, from time to time, the minimum loan amount;

Ingram Micro Inc.                                                  Article VII-4
401(k) Investment Savings Plan

<PAGE>

      (5)   employ agents, attorneys, accountants, and other persons to
            administer the loan provision and to collect outstanding loans; and

      (6)   take all other actions necessary or advisable to carry out the
            provisions of this Section 7.5.

(c)   Loan Eligibility

      Any Participant who is either (1) an Employee paid on the payroll system
      of the Employer or (2) a former Employee who is a party in interest as
      defined in Section 3(14) of ERISA with respect to the Plan may request a
      loan subject to the terms, conditions and limitations prescribed in this
      Section 7.5.

(d)   Loan Request

      Each loan request must be made in accordance with procedures prescribed by
      the Administrator.

(e)   Term of Loan and Payment

      Each loan shall be evidenced by a legally enforceable agreement in a form
      approved by the Administrator and shall provide for payment of principal
      and interest based on substantially level amortization payments. All loans
      shall be subject to a specific repayment schedule with payments to be made
      not less frequently than quarterly over the term of the loan. The period
      of repayment for any home loan within the meaning of Section
      72(p)(2)(B)(ii) shall not exceed one hundred and twenty (120) months. The
      period of repayment for all other loans shall in no event exceed sixty
      (60) months.

      A loan to a Participant shall be secured by the Participant's Account.
      Except in the case of Participants described in Section 7.5(c)(2), loan
      payments shall

Ingram Micro Inc.                                                  Article VII-5
401(k) Investment Savings Plan

<PAGE>

      be required to be made through payroll deductions, and each Participant
      shall be required to execute an irrevocable authorization directing the
      Employer to deduct the loan payments from the Participant's wages or
      salary, which amounts shall be transmitted to the Trustee and applied
      against the outstanding loan balance. Participants may prepay the entire
      amount of the remaining unpaid principal balance (and all remaining
      interest due thereon) at any time without penalty. Loan payments in the
      case of Participants described in Section 7.5(c)(2) shall be made in a
      manner approved by the Administrator.

(f)   Maximum Loan

      Loans to a Participant (when added to the outstanding balance of all other
      loans from the Plan and any other qualified plan maintained by the
      Employer) shall not be in an amount that exceeds the lesser of:

      (1)   $50,000, reduced by the excess (if any) of the highest outstanding
            balance of loans from the Plan during the one (1) year period ending
            on the day before the date on which such loan is made, over the
            outstanding balance of other loans from the Plan on the date the new
            loan is made, or

      (2)   fifty percent (50%) of the vested portion of the Participant's
            Account reduced by the then outstanding balance of any other loans
            that the Participant received from the Plan.

(g)   Interest

      Each loan shall bear interest at a rate to be fixed by the Administrator
      and, in determining the interest rate, the Administrator shall take into
      consideration interest rates currently being charged by commercial lending
      institutions.

Ingram Micro Inc.                                                  Article VII-6
401(k) Investment Savings Plan

<PAGE>

      Interest rates shall be fixed for the terms of the loan at the time the
      loan is made, and the Administrator shall determine periodically the
      interest rate to be charged on new loans.

(h)   Failure to Repay Loans

      The Administrator shall establish uniform rules to apply where a
      Participant fails to repay any portion of a loan made to him and accrued
      interest thereon in accordance with the terms of the loan, or where any
      portion of a loan and accrued interest thereon remains unpaid on a
      Participant's Severance from Employment. Such rules shall not be
      inconsistent with Section 72(p) of the Code and Regulations thereunder.
      Loan repayments with respect to qualified military service will be
      suspended as permitted under Section 414(u)(4) of the Code.

      Notwithstanding the foregoing provisions of this Section 7.5(h), if a
      Participant loan remains unpaid at the time that a distribution is due the
      Participant (or his Beneficiary) under the Plan, the Administrator shall
      reduce the amount otherwise distributable to the Participant or
      Beneficiary by the unpaid balance of principal and accrued interest on the
      Participant's loan and distribute (in kind) the promissory note or other
      agreement evidencing such loan in full or partial satisfaction of the
      obligation to distribute the Participant's vested Account.

      The requirement that loan repayments be made on an amortized basis, not
      less frequently than quarterly, may be suspended for up to one year while
      a Participant is on a leave of absence approved by the Employer, either
      without pay or at a rate of pay (after income and employment tax
      withholding) that is less than the amount of the installment payments
      required under the terms of the Participant loan. A suspension of
      regularly scheduled loan payments shall not in any event extend the due
      date of the

Ingram Micro Inc.                                                  Article VII-7
401(k) Investment Savings Plan

<PAGE>

      Participant loan beyond the due date in effect immediately prior to the
      leave of absence (or an accelerated due date in the case of the
      Participant's termination of employment) and the installments due after
      the leave of absence ends (or, if earlier, after the first year of the
      leave of absence) must not be less than the installments required under
      the terms of the original loan.

      A default in repayment of a Participant loan shall occur when a
      Participant fails to make any payment when due under the terms of a
      Participant loan. Notwithstanding the above, the Administrator may
      establish a grace period, during which Participants may make past due
      payments without incurring a default. If a grace period is established, it
      shall in no event continue beyond the last day of the calendar quarter
      following the calendar quarter in which the required payment was initially
      due from the Participant. Such grace period, if any, shall be applied in a
      uniform and nondiscriminatory manner, taking into account commercially
      reasonable factors concerning whether (or to what extent) a grace period
      should be allowed based on all of the facts and circumstances of the
      particular case.

      Upon the occurrence of a default, as described above, there shall be a
      deemed distribution to the Participant equal to the entire outstanding
      balance of the Participant loan at the time of such default.

(i)   Directed Investment

      Any loan to a Participant under this Section 7.5 shall be made pro rata
      from the Investment Funds in which the Participant's individual Account is
      invested, shall be charged against said Account and shall be treated as a
      segregated investment of the Participant's Account. Any loan to a
      Participant who is subject to Rule 16b-3 of the Securities and Exchange
      Commission or who is designated by the Employer as a window group person
      shall be made pro-rata from the Investment Funds in which the
      Participant's individual Account is

Ingram Micro Inc.                                                  Article VII-8
401(k) Investment Savings Plan

<PAGE>

      invested other than the Ingram Micro Stock Fund. Any principal and
      interest paid on the loan shall be paid in accordance with the
      Participant's investment elections in effect at the time of the loan
      repayment. Loan repayments shall be applied first to satisfy accrued loan
      interest and the remainder shall be applied to principal. If and to the
      extent required by the Sarbanes-Oxley Act or other applicable law, loans
      shall not be made to officers of the Employer or other prohibited
      classifications of Participants.

Ingram Micro Inc.                                                  Article VII-9
401(k) Investment Savings Plan
<PAGE>

                                  ARTICLE VIII
                  DISTRIBUTIONS UPON SEVERANCE FROM EMPLOYMENT

8.1   Eligibility for Distribution

      A Participant's vested Account balance shall become payable upon Severance
      from Employment for any reason including death or Disability.

8.2   Forms of Payment

      Benefits shall be payable in a single lump sum payment. The Participant or
      Beneficiary may elect to receive distributions from the Ingram Micro Stock
      Fund in cash or in kind. Fractional shares must be settled in cash.

8.3   Timing of Payment

      Benefits that become payable in accordance with Section 8.1 shall be
      distributed as soon as administratively feasible after the Participant or
      the Beneficiary, as the case may be, elects, in accordance with procedures
      established by the Administrator, to receive a distribution. If the vested
      value of the Participant's Account is more than $5,000 at the time
      benefits become distributable in accordance with Section 8.1, the
      Participant must consent to the distribution. Such consent must be
      obtained within the ninety (90) day period ending on the date the
      Participant elects to receive a distribution. If the vested value of the
      Participant's Account is $5,000 or less at the time benefits become
      distributable in accordance with Section 8.1, the Participant or
      Beneficiary, as the case may be, shall be required to receive a
      distribution as soon as administratively practicable of the balance
      payable in a single lump sum payment. Effective for benefits that become
      payable on or after March 28, 2005, if the vested value of the
      Participant's Account is $5,000 or

Ingram Micro Inc.                                                 Article VIII-1
401(k) Investment Savings Plan

<PAGE>

      less but greater than $1,000 at the time benefits become distributable in
      accordance with Section 8.1 and the Participant does not elect to have
      such distribution paid in the manner described in Section 8.2 or 8.7, the
      Employer will pay the distribution in a direct rollover to an individual
      retirement plan designated by the Employer. The vested value of the
      Participant's Account for this purpose shall be determined with regard to
      that portion of the Account that is attributable to Rollover Contributions
      (and earnings allocable thereto) within the meaning of Sections 402(c),
      403(a)(4), 403(b)(8), and 457(e)(16) of the Code.

8.4   Minimum Distribution Requirements

      The requirements of this Section 8.4 shall take precedence over any
      inconsistent provisions of the Plan. All distributions required under this
      Section 8.4 shall be determined and made in accordance with the
      Regulations under Section 401(a)(9) of the Code.

(a)   Time and Manner of Distribution

      (1)   The Participant's entire interest will be distributed, or begin to
            be distributed, to the Participant no later than the Participant's
            'Required Beginning Date'. The Required Beginning Date, for purposes
            of this Section 8.4, means April 1st of the calendar year following
            the later of (i) the calendar year in which the Participant attains
            age 70 1/2, or (ii) the calendar year in which the Participant
            retires. A Participant who is a five percent (5%) owner as defined
            in Section 416 of the Code with respect to the Plan Year ending in
            the calendar year in which the Participant attains age 70 1/2 shall
            have his Required Beginning Date determined pursuant to (i) above.

Ingram Micro Inc.                                                 Article VIII-2
401(k) Investment Savings Plan

<PAGE>

      (2)   If the Participant dies before distributions begin, the
            Participant's entire interest will be distributed in a single lump
            sum payment no later than December 31st of the calendar year
            containing the fifth anniversary of the Participant's death.

(b)   Required Minimum Distributions During Participant's Lifetime

      (1)   During the Participant's lifetime, the minimum amount that will be
            distributed for each distribution calendar year is the lesser of:

            (i)   the quotient obtained by dividing the Participant's account
                  balance (as defined below in Section 8.4(d)(3)) by the
                  distribution period in the Uniform Lifetime Table set forth in
                  Section 1.401(a)(9)-9 of the Regulations, using the
                  Participant's age as of the Participant's birthday in the
                  distribution calendar year; or

            (ii)  if the Participant's sole designated beneficiary for the
                  distribution calendar year is the Participant's Spouse, the
                  quotient obtained by dividing the Participant's account
                  balance by the number in the Joint and Last Survivor Table set
                  forth in Section 1.401(a)(9)-9 of the Regulations, using the
                  Participant's and Spouse's attained ages as of the
                  Participant's and Spouse's birthdays in the distribution
                  calendar year.

      (2)   Required minimum distributions will be determined under this Section
            8.4(b) beginning with the first distribution calendar year and up to
            and including the distribution calendar year that includes the
            Participant's date of death.

Ingram Micro Inc.                                                 Article VIII-3
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<PAGE>

(c)   Required Minimum Distributions After Participant's Death

      (1)   If the Participant dies on or after the date distributions begin,
            the Participant's entire remaining interest will be distributed in a
            single lump sum payment no later than December 31st of the calendar
            year immediately following the calendar year in which the
            Participant died.

      (2)   If the Participant dies before the date distributions begin, the
            Participant's entire interest will be distributed in a single lump
            sum payment no later than December 31st of the calendar year
            containing the fifth anniversary of the Participant's death.

(d)   Definitions

      The following definitions apply for purposes of this Section 8.4:

      (1)   Designated Beneficiary: The individual who is designated as the
            beneficiary under Section 2.2(b) of the Plan and is the designated
            beneficiary under Section 401(a)(9) of the Code and Section 1.401
            (a)(9)-1, Q&A-4, of the Regulations.

      (2)   Distribution Calendar Year: A calendar year for which a minimum
            distribution is required. For distributions beginning before the
            Participant's death, the first distribution calendar year is the
            calendar year immediately preceding the calendar year which contains
            the Participant's Required Beginning Date. For distributions
            beginning after the Participant's death, the first distribution
            calendar year is the calendar year in which distributions are
            required to begin under Section 8.4(a)(2). The required minimum
            distribution for the Participant's first distribution calendar year
            will be made on or before

Ingram Micro Inc.                                                 Article VIII-4
401(k) Investment Savings Plan

<PAGE>

            the Participant's Required Beginning Date. The required minimum
            distribution for other distribution calendar years, including the
            required minimum distribution for the distribution calendar year in
            which the Participant's Required Beginning Date occurs, will be made
            on or before December 31st of that distribution calendar year.

      (3)   Participant's account balance: The account balance as of the last
            valuation date in the calendar year immediately preceding the
            distribution calendar year (valuation calendar year) increased by
            the amount of any contributions made and allocated or forfeitures
            allocated to the account balance as of dates in the valuation
            calendar year after the valuation date and decreased by
            distributions made in the valuation calendar year after the
            valuation date. The account balance for the valuation calendar year
            includes any amounts rolled over or transferred to the plan either
            in the valuation calendar year or in the distribution calendar year
            if distributed or transferred in the valuation calendar year.

Ingram Micro Inc.                                                 Article VIII-5
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<PAGE>

8.5   Special Timing Rules

      Unless a Participant elects otherwise, his vested Account shall be
      distributed to him no later than sixty (60) days after the close of the
      Plan Year in which occurs the latest of his Normal Retirement Age (or age
      65, if earlier), the tenth (10th) anniversary of the year in which he
      commenced participation in the Plan or the date of his Severance from
      Employment. A Participant must, however, file a claim for benefits before
      benefits will be distributed to him in accordance with this Section 8.5.
      The failure of a Participant to consent to a distribution while his
      benefit is immediately distributable within the meaning of Section 411
      (a)(11) of the Code shall be deemed to be an election to defer
      commencement of payment of any benefit sufficient to satisfy this Section
      8.5.

8.6   Proof of Death

      The Administrator may require and rely upon such proof of death and such
      evidence of the right of any Beneficiary or other person to receive the
      value of the Accounts of a deceased Participant as the Administrator may
      deem proper, and its determination of death and of the right of that
      Beneficiary or other person to receive payment shall be conclusive.

8.7   Direct Rollovers

(a)   In General

      Notwithstanding any provision of the Plan to the contrary that would
      otherwise limit a Distributee's election under this Section 8.7, a
      Distributee may elect, at the time and in the manner prescribed by the
      Administrator, to have any

Ingram Micro Inc.                                                 Article VIII-6
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<PAGE>

      portion of an Eligible Rollover Distribution paid directly to an Eligible
      Retirement Plan specified by the Distributee in a Direct Rollover.

(b)   Eligible Rollover Distribution

      An Eligible Rollover Distribution is any distribution of all or any
      portion of the balance to the credit of the Distributee, except that an
      Eligible Rollover Distribution does not include: any distribution that is
      one of a series of substantially equal periodic payments (no less
      frequently than annually) made for the life (or life expectancy) of the
      Distributee or the joint lives (or joint life expectancies) of the
      Distributee and the Distributee's designated beneficiary, or for a
      specified period of ten (10) years or more; any distribution to the extent
      such distribution is required under Section 401(a)(9) of the Code; except
      as otherwise provided below, the portion of any distribution that is not
      includible in gross income; and, any hardship distribution described in
      Section 401 (k)(2)(B)(i)(IV). A portion of a distribution shall not fail
      to be an Eligible Rollover Distribution merely because the portion
      consists of after-tax employee contributions which are not includible in
      gross income. However, such portion may be transferred only to an
      individual retirement account or annuity described in Section 401 (a) or
      (b) of the Code, or to a defined contribution plan described in Section
      401 (a) or 403(a) of the Code that agrees to separately account for
      amounts so transferred, including separately accounting for the portion of
      such distribution which is includible in gross income and the portion of
      such distribution which is not includible.

(c)   Eligible Retirement Plan

      An Eligible Retirement Plan is an individual retirement account described
      in Section 408(a) of the Code, an individual retirement annuity described
      in Section 408(b) of the Code, an annuity plan described in Section 403(a)
      of the

Ingram Micro Inc.                                                 Article VIII-7
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<PAGE>

      Code, an annuity contract described in Section 403(b) of the Code, an
      eligible plan under Section 457(b) which is maintained by a state,
      political subdivision of a state, or any agency or instrumentality of a
      state and which agrees to separately account for amounts transferred into
      such plan for the Plan or a qualified trust described in Section 401 (a)
      of the Code, that accepts the Distributee's Eligible Rollover
      Distribution.

(d)   Distributee

      A Distributee includes an Employee or former Employee. In addition, the
      Employee's or former Employee's surviving Spouse and the Employee's or
      former Employee's Spouse or former Spouse who is the alternate payee under
      a qualified domestic relations order, as defined in Section 414(p) of the
      Code, are Distributees with regard to the interest of the Spouse or former
      Spouse.

(e)   Direct Rollover

      A Direct Rollover is a payment by the Plan to the Eligible Retirement Plan
      specified by the Distributee.

(f)   Waiver of Thirty (30) Day Notice

      If a distribution is not subject to Sections 401(a)(11) and 417 of the
      Code, the distribution may be made less than thirty (30) days after the
      notice required by Reg. Sec. 1.411(a)-11(c) is given provided:

      (1)   the Administrator clearly informs the Participant that the
            Participant has the right to a period of at least thirty (30) days
            after receiving the notice to consider the decision whether or not
            to elect a distribution (and, if

Ingram Micro Inc.                                                 Article VIII-8
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<PAGE>

            applicable, a particular distribution option); and

      (2)   the Participant, after receiving the notice, affirmatively, elects
            to receive a distribution.

Ingram Micro Inc.                                                 Article VIII-9
401(k) Investment Savings Plan

<PAGE>

                                   ARTICLE IX
                              TOP HEAVY PROVISIONS

9.1   When Applicable

      If the Plan is determined to be "Top Heavy" for any Plan Year, the
      provisions of this Article shall supersede any conflicting provisions of
      the Plan.

9.2   Top Heavy Determination

(a)   The Plan shall be Top Heavy with respect to any Plan Year in which, as of
      the "Determination Date", the ratio of the present value of accrued
      benefits under all defined benefit plans in the "Aggregation Group" for
      "Key Employees" plus all Account balances attributable to Employer and
      Employee contributions (except as otherwise noted below) under the Plan
      and all other defined contribution plans in the Aggregation Group, exceeds
      sixty percent (60%) of such present value of accrued benefits and such
      Account balances for all Key Employees and Non-Key Employees under all
      plans in the Aggregation Group. The present values of accrued benefits and
      the amounts of account balances of an Employee as of the determination
      date shall be increased by the distributions made with respect to the
      Employee under the Plan and any plan aggregated with the Plan under
      Section 416(g)(2) of the Code during the one (1) year period ending on the
      determination date. The preceding sentence shall also apply to
      distributions under a terminated plan which, had it not terminated, would
      have been aggregated with the Plan under Section 416(g)(2)(A)(i) of the
      Code. In the case of a distribution for a reason other than separation
      from service, death or disability, this provision shall be applied by
      substituting a five (5) year period for the one (1) year period. The
      accrued benefits and accounts of any individual who has not performed
      services for the Employer during the one (1) year period ending on the
      determination date

Ingram Micro Inc.                                                   Article IX-1
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<PAGE>

      shall not be taken into account. The accrued benefits and account balances
      of any individual who is not a Key Employee but who was a Key Employee in
      a prior year will be disregarded. In any event, the calculation of the Top
      Heavy ratio and the extent to which distributions, tax deductible
      qualified employee contributions, rollovers and transfers are taken into
      account shall be in accordance with Section 416 of the Code and the
      Regulations thereunder. When aggregating plans, accrued benefits and
      account balances under other plans will be calculated as of determination
      dates that are within the same calendar year.

(b)   In determining the cumulative accrued benefits under a defined benefit
      plan for purposes of this Section 9.2, the actuarial assumptions specified
      by the defined benefit plan for this purpose shall be utilized. If
      differing actuarial assumptions are specified for two or more defined
      benefit plans, the actuarial assumptions for the defined benefit plan
      including the largest number of employees in the first year any defined
      benefit plan is included within the Aggregation Group shall be utilized.
      Solely for the purpose of determining if the Plan or any other plan in a
      required aggregation group of which the Plan is a part is a Top Heavy
      Plan, the accrued benefit of an Employee other than a Key Employee shall
      be determined (1) under the method, if any, that uniformly applies for
      accrual purposes under all plans maintained by the Employer, or (2) if
      there is no such method, as if such benefit accrued not more rapidly than
      the slowest accrual rate permitted under the fractional accrual rate of
      Section 411(b)(1)(C) of the Code.

(c)   The term Top Heavy shall not include a plan which consists solely of (1) a
      cash or deferred arrangement which meets the requirements of Section
      401(k)(12) and (2) matching contributions with respect to which the
      requirements of Section 401(m)(11) are met. If, but for the foregoing, a
      plan would be treated as a Top Heavy plan because it is a member of an

Ingram Micro Inc.                                                   Article IX-2
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<PAGE>

      aggregation group which is a Top Heavy group, contributions under the plan
      may be taken into account in determining whether any other plan in the
      group meets the requirements of Section 416(c)(2) of the Code.

9.3   Minimum Contribution

      For each year that the Plan is Top Heavy the Employer shall contribute to
      the Plan and allocate to the Matching Contribution Account of each
      Participant who is a Non-Key Employee (including such an individual who is
      eligible to participate but has not elected to do so in accordance with
      Article II) an amount that is not less in total than the lesser of three
      percent (3%) of the Non-Key Employee's Compensation for the Plan Year or
      the greatest amount (expressed as a percentage of Compensation) allocated
      to the Account of any Key Employee for that year. Compensation for
      purposes of this Article IX shall mean compensation within the meaning of
      Section 415(c)(3) of the Code as defined in Section 3.11. This minimum
      allocation shall be made even though, under other Plan provisions, the
      Eligible Employee would not otherwise be entitled to receive an allocation
      or would have received a lesser allocation for the year because of (a) his
      failure to be employed on a specified date such as the last day of the
      Plan Year, (b) his failure to make mandatory contributions, if any, to the
      Plan, or (c) his Compensation being less than a stated amount. This
      requirement shall not apply to the extent the Participant is covered under
      any other plan or plans of the Employer and such Employer has provided
      that the minimum benefit or minimum allocation requirements applicable to
      Top Heavy Plans will be satisfied in the other plan or plans.

      Matching Contributions described in Article III shall be taken into
      account for purposes of satisfying the minimum allocation requirements of
      Section 416(c)(2) of the Code and the Plan. Matching Contributions that
      are used to satisfy the minimum allocation requirements shall be treated
      as Matching

Ingram Micro Inc.                                                   Article IX-3
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      Contributions of purposes of the actual contribution percentage test and
      other requirements of Section 401(m) of the Code.

9.4   Vesting Rules

      For any Plan Year in which the Plan is Top-Heavy, the vesting provisions
      of Article VI will continue to apply.

9.5   Dual Plan Special Limitations

      If a Key Employee participates in both the Plan and a defined benefit plan
      maintained by the Employer, then for all years that the Plan and the
      defined benefit plan are Top Heavy and the Top Heavy ratio referred to in
      Section 9.6(b) does not exceed ninety percent (90%), the minimum benefit
      described in Section 416(h)(2)(A) of the Code shall be provided under the
      defined benefit plan for each Non-Key Employee.

9.6   Aggregation Groups

(a)   A Required Aggregation Group is defined as (1) each qualified plan of the
      Employer in which at least one Key Employee participates or participated
      during the Determination Period (regardless of whether the plan has
      terminated) and (2) any other qualified plan of the Employer which enables
      a plan described in (1)to meet the requirements of Section 401(a)(4) or
      410(b) of the Code. The Determination Period, for this purpose, is the
      Plan Year containing the Determination Date or any of the four preceding
      Plan Years. A Permissive Aggregation Group is defined as a Required
      Aggregation Group plus any other plan or plans of the Employer which, when
      considered as a group with the Required Aggregation Group, would continue
      to satisfy the requirements of Section 401(a)(4) and 410(b) of the Code.

Ingram Micro inc.                                                   Article IX-4
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<PAGE>

(b)   Each plan of the Employer required to be included in an Aggregation Group
      shall be treated as a Top Heavy Plan if such group is a Top Heavy group. A
      required aggregation will be considered a Top Heavy group if the present
      value of the cumulative accrued benefits for Key Employees under all
      defined benefit plans included in such group and the aggregate of the
      accounts of Key Employees under all defined contribution plans included in
      such group exceed sixty percent (60%) of a similar sum determined for all
      Employees.

9.7   Key Employee Defined

(a)   A Key Employee means any Employee or former Employee (including any
      deceased Employee) who at any time during the Plan Year that includes the
      determination date was an officer of the Employer having annual
      Compensation greater than $130,000 (as adjusted under Section 416(i)(1) of
      the Code for Plan Years beginning after December 31, 2002), a five percent
      (5%) owner of the Employer, or a one percent (1%) owner of the Employer
      having annual compensation of more than $150,000. For this purpose, annual
      Compensation means compensation within the meaning of Section 415(c)(3) of
      the Code. The determination of who is a Key Employee will be made in
      accordance with Section 416(i)(1) of the Code and the applicable
      Regulations of general applicability issued thereunder.

(b)   A Non-Key Employee is an Employee who is not a Key Employee.

9.8   Determination Date

      Determination Date means with respect to the initial Plan Year, the last
      day of the first Plan Year and, for each other Plan Year, the last day of
      the preceding Plan Year.

Ingram Micro Inc.                                                   Article IX-5
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<PAGE>
                                    ARTICLE X
                             ADMINISTRATION OF PLAN

10.1  Records and Notices

      The Administrator shall keep a record of all its proceedings and acts with
      respect to its administration of the Plan and shall maintain all such
      books of accounts, records and other data as may be necessary for the
      proper administration of the Plan. The Administrator shall have the
      discretionary authority to interpret the provisions of the Plan and Trust
      Agreement. The Administrator shall notify the Trustees of any action taken
      by the Administrator affecting the Trustees and its obligations or rights
      regarding the Plan and, when required, shall notify any other interested
      person or persons.

10.2  Powers and Duties

      The Administrator has the following powers and duties:

(a)   To determine the rights of eligibility of an Employee to participate in
      the Plan, the value of a Participant's Account and the nonforfeitable
      percentage of each Participant's Account;

(b)   To adopt rules of procedure and regulations necessary for the proper and
      efficient administration of the Plan provided the rules are not
      inconsistent with the terms of the Plan;

(c)   To construe and enforce the terms of the Plan and the rules and
      regulations it adopts, including interpretation of the Plan documents and
      documents related to the Plan's operation;

Ingram Micro Inc.                                                 Article X-1
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(d)   To direct the Trustee as respects the crediting and distribution of the
      Trust Fund;

(e)   To review and render decisions respecting a claim for (or denial of a
      claim for) a benefit under the Plan;

(f)   To furnish the Employer with information which the Employer may require
      for tax or other purposes;

(g)   To engage the service of agents whom it may deem advisable to assist it
      with the performance of its duties;

(h)   To engage the services of an Investment Manager or Managers, as defined in
      Section 11.3, each of whom will have power and authority to manage,
      acquire or dispose (or direct the Trustee with respect to acquisition or
      disposition) of any Plan asset under its control;

(i)   To establish, in its sole discretion, a nondiscriminatory policy which the
      Trustee must observe in making loans, if any, to Participants and
      Beneficiaries; and

(j)   To delegate administrative authority to a committee of individuals and to
      establish rules of procedure for such committee, including rules regarding
      how such committee is to act, the vote required for action by the
      committee and other procedures for the operation of the committee as
      deemed appropriate by the Administrator.

      All rules, procedures and decisions of the Administrator shall be
      uniformly and consistently applied to all Participants in similar
      circumstances. Such rules, procedures and decisions so made shall be
      conclusive and binding on all

Ingram Micro Inc.                                               Article X-2
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      persons having an interest in the Plan. The Administrator shall be a named
      fiduciary as defined in ERISA Sec. 402(a)(2).

      The Administrator and any representative that the Administrator chooses to
      assist it to carry out its responsibilities under the Plan shall have the
      maximum discretionary authority permitted by the law to interpret,
      construe and administer the Plan, to make determinations regarding Plan
      participation, enrollment and eligibility for benefits, to evaluate and
      determine the validity of benefit claims, and to resolve any and all
      claims and disputes regarding the rights and entitlements of individuals
      to participate in the Plan and to receive benefits and payments pursuant
      to the Plan. The decisions of the Administrator and its representatives
      shall be given the maximum deference permitted by law.

10.3  Compensation and Expenses

      The Administrator shall serve without compensation for its services
      hereunder. All expenses of the Administrator may be paid by the Trust Fund
      unless paid by the Employer. The Employer shall furnish the Administrator
      with such clerical and other assistance as is necessary in the performance
      of its duties and any expense incurred in connection therewith may be paid
      by the Employer or out of the Trust Fund. The reasonable expenses of
      administering the Plan may be advanced by the Employer, and then
      reimbursed to the Employer by the Trust.

10.4  Bonding of Fiduciaries

      The Administrator shall be responsible for seeing that every fiduciary of
      the Plan and Trust and every person who handles Trust assets shall be
      covered by a fidelity bond or similar policy of insurance to the extent
      required by

Ingram Micro Inc.                                              Article X-3
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<PAGE>

      Section 412 of ERISA. The cost of such coverage shall be paid by the
      Trustee out of Trust assets, upon direction of the Administrator, if the
      cost thereof shall not be timely paid by the Employer.

10.5  Standard of Conduct

      The Administrator and any other person to whom any fiduciary
      responsibility with respect to the Plan or Trust is allocated or delegated
      shall discharge his duties and responsibilities with respect to the Plan
      or Trust in accordance with the standards set forth in Section 404(a)(1)
      of ERISA, which provides, subject to the Sections 403(c) and (d), 4042,
      and 4044 of ERISA, that a fiduciary shall discharge his duties with
      respect to a plan solely in the interest of the participants and
      beneficiaries and

      (a)   For the exclusive purpose of

            (i)   providing benefits to participants and their beneficiaries;
                  and

            (ii)  defraying reasonable expenses of administering the plan;

      (b)   With the care, skill, prudence and diligence under the circumstances
            then prevailing that a prudent man acting in a like capacity and
            familiar with such matters would use in the conduct of an enterprise
            of a like character and with like aims;

      (c)   By diversifying the investments of the plan so as to minimize the
            risk of large losses, unless under the circumstances it is clearly
            prudent not to do so; and

      (d)   In accordance with the documents and instruments governing the plan
            insofar as such documents and instruments are consistent with the
            provisions of this title.

Ingram Micro Inc.                                               Article X-4
401(k) Investment Savings Plan

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10.6  Claims Procedure

(a)   Definitions

      For purposes of this Section 10.6, the following words or phrases in
      quotes when capitalized will have the meaning set forth below:

      (1)   "Adverse Benefit Determination" means a denial, reduction or the
            termination of, or a failure to provide or make payment (in whole or
            in part) with respect to a Claim for a benefit, including any such
            denial, reduction, termination, or failure to provide or make
            payment that is based on a determination of a Participant's or
            Beneficiary's eligibility to participate in the Plan.

      (2)   "Claim" means a request for a benefit or eligibility to participate
            in the Plan, made by a Claimant in accordance with the Plan's
            procedures for filing Claims, as described in this Section 10.6.

      (3)   "Claimant" is defined in Section 10.6(b)(2).

      (4)   "Claims Administrator" means the party designated by the
            Administrator to review Claims.

      (5)   "Notice" or "Notification" means the delivery or furnishing of
            information to an individual in a manner that satisfies applicable
            Department of Labor regulations with respect to material required to
            be furnished or made available to an individual.

      (6)   "Relevant Documents" include documents, records or other information
            with respect to a Claim that:

 Ingram Micro Inc.                                               Article X-5
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<PAGE>

            (i)   were relied upon by the Claims Administrator in making the
                  benefit determination;

            (ii)  were submitted to, considered by or generated for, the Claims
                  Administrator in the course of making the benefit
                  determination, without regard to whether such documents,
                  records or other information were relied upon by the Claims
                  Administrator in making the benefit determination;

            (iii) demonstrate compliance with administrative processes and
                  safeguards required in making the benefit determination; or

            (iv)  constitute a statement of policy or guidance with respect to
                  the Plan concerning the denied benefit for the Participant's
                  circumstances, without regard to whether such advice was
                  relied upon by the Claims Administrator in making the benefit
                  determination.

(b)   Procedure for Filing a Claim

      In order for a communication from a Claimant to constitute a valid Claim,
      it must satisfy the following paragraphs (1) and (2) of this paragraph
      (b).

      (1)   Any Claim submitted by a Claimant must be in writing on the
            appropriate Claim form (or in such other manner acceptable to the
            Claims Administrator) and delivered, along with any supporting
            comments, documents, records and other information, to the Claims
            Administrator in person, or by mail postage paid, to the address for
            the Claims Administrator provided in the Summary

Ingram Micro Inc.                                               Article X-6
401(k) Investment Savings Plan

<PAGE>

            Plan  Description.

      (2)   Claims and appeals of denied Claims may be pursued by a Participant
            or an authorized representative of the Participant (each of whom
            will be referred to in this section as a "Claimant"). However, the
            Claims Administrator may establish reasonable procedures for
            determining whether an individual has been authorized to act on
            behalf of a Participant.

(c)   Initial Claim Review

      The initial Claim review will be conducted by the Claims Administrator,
      with or without the presence of the Claimant, as determined by the Claims
      Administrator in its discretion. The Claims Administrator will consider
      the applicable terms and provisions of the Plan and amendments to the
      Plan, information and evidence that is presented by the Claimant and any
      other information it deems relevant. In reviewing the Claim, the Claims
      Administrator will also consider and be consistent with prior
      determinations of Claims from other Claimants who were similarly situated
      and which have been processed through the Plan's claims and appeals
      procedures within the past twenty-four (24) months.

(d)   Initial Benefit Determination

      (1)   The Claims Administrator will notify the Claimant of the Claim
            Administrator's determination within a reasonable period of time,
            but in any event (except as described in paragraph (2) below) within
            ninety (90) days after receipt of the Claim by the Claims
            Administrator.

      (2)   The Claims Administrator may extend the period for making the
            benefit determination by ninety (90) days if it determines that such

 Ingram Micro Inc.                                              Article X-7
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<PAGE>

            an extension is necessary due to matters beyond the control of the
            Plan and if it notifies the Claimant, prior to the expiration of the
            initial ninety (90) day period, of circumstances requiring the
            extension of time and the date by which the Claims Administrator
            expects to render a decision.

(e)   Manner and Content of Notification of Adverse Benefit Determination

      (1)   The Claims Administrator will provide a Claimant with written or
            electronic Notice of any Adverse Benefit Determination, in
            accordance with applicable Department of Labor regulations.

      (2)   The Notification will set forth in a manner calculated to be
            understood by the Claimant:

            (i)   The specific reason or reasons for the Adverse Benefit
                  Determination;

            (ii)  Reference to the specific provision(s) of the Plan on which
                  the determination is based;

            (iii) Description of any additional material or information
                  necessary for the Claimant to perfect the Claim and an
                  explanation of why such material or information is necessary;
                  and

Ingram Micro Inc.                                            Article X-8
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<PAGE>

            (iv)  A description of the Plan's review procedures and the time
                  limits applicable to such procedures, including a statement of
                  the Claimant's right to bring a civil action under Section
                  502(a) of ERISA following an Adverse Benefit Determination on
                  review.

(f)   Procedure for Filing a Review of an Adverse Benefit Determination

      (1)   Any appeal of an Adverse Benefit Determination by a Claimant must be
            brought to the Claims Administrator within sixty (60) days after
            receipt of the Notice of the Adverse Benefit Determination. Failure
            to appeal within such sixty (60) day period will be deemed to be a
            failure to exhaust all administrative remedies under the Plan. The
            appeal must be in writing utilizing the appropriate form provided by
            the Claims Administrator (or in such other manner acceptable to the
            Claims Administrator); provided, however, that if the Claims
            Administrator does not provide the appropriate form, no particular
            form is required to be utilized by the Participant. The appeal must
            be filed with the Claims Administrator at the address listed in the
            Summary Plan Description.

      (2)   A Claimant will have the opportunity to submit written comments,
            documents, records and other information relating to the Claim.

(g)   Review Procedures for Adverse Benefit Determinations

      (1)   The Claims Administrator will provide a review that takes into
            account all comments, documents, records and other information
            submitted by the Claimant without regard to whether such information
            was submitted or considered in the initial benefit determination.

 Ingram Micro Inc.                                           Article X-9
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      (2)   The review procedure may not require more than two levels of appeals
            of an Adverse Benefit Determination.

(h)   Timing and Notification of Benefit Determination on Review

      The Claims Administrator will notify the Claimant within a reasonable
      period of time, but in any event within sixty (60) days after the
      Claimant's request for review, unless the Claims Administrator determines
      that special circumstances require an extension of time for processing the
      review of the Adverse Benefit Determination. If the Claims Administrator
      determines that an extension is required, written Notice will be furnished
      to the Claimant prior to the end of the initial sixty (60) day period
      indicating the special circumstances requiring an extension of time and
      the date by which the Claims Administrator expects to render the
      determination on review, which in any event will be within sixty (60) days
      from the end of the initial sixty (60) day period. If such an extension is
      necessary due to a failure of the Claimant to submit the information
      necessary to decide the Claim, the period in which the Claims
      Administrator is required to make a decision will be tolled from the date
      on which the notification is sent to the Claimant until the Claimant
      adequately responds to the request for additional information.

(i)   Manner and Content of Notification of Benefit Determination on Review

      (1)   The Claims Administrator will provide a written or electronic Notice
            of the Plan's benefit determination on review, in accordance with
            applicable Department of Labor regulations.

 Ingram Micro Inc.                                           Article X-10
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      (2)   The Notification will set forth:

            (i)   The specific reason or reasons for the Adverse Benefit
                  Determination;

            (ii)  Reference to the specific provision(s) of the Plan on which
                  the determination is based;

            (iii) A statement that the Claimant is entitled to receive, upon
                  request and free of charge, reasonable access to and copies of
                  all Relevant Documents; and

            (iv)  A statement of the Claimant's right to bring a civil action
                  under Section 502(a) of ERISA following an Adverse Benefit
                  Determination of review.

(j)   Collectively Bargained Benefits

      (1)   Where benefits are provided pursuant to a collective bargaining
            agreement and such collective bargaining agreement maintains or
            incorporates by specific reference: (i) provisions concerning the
            filing of a Claim for a benefit and the initial disposition of a
            Claim; and (ii) a grievance and arbitration procedure to which
            Adverse Benefit Determinations are subject, then Section 10.6(c)
            through and including Section 10.6(i) will not apply to such Claim.

Ingram Micro Inc.                                             Article X-11
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<PAGE>

      (2)   Where benefits are provided pursuant to a collective bargaining
            agreement and such collective bargaining agreement maintains or
            incorporates by specific reference a grievance and arbitration
            procedure to which Adverse Benefit Determinations are subject, then
            Sections 10.6(f) through and including Section 10.6(i) will not
            apply to such Claim.

(k)   Exhaustion of Administrative Remedies

      The claims procedures set forth in this Section 10.6 shall be strictly
      adhered to by each Participant or Beneficiary under the Plan and no
      judicial or arbitration proceedings with respect to any claim for Plan
      benefits hereunder shall be commenced by any such Participant or
      Beneficiary until the proceedings set forth herein have been exhausted in
      full.

(l)   Statute of Limitations

      No cause of action may be brought by a claimant who has received an
      Adverse Benefit Determination later than two (2) years following the date
      of such Adverse Benefit Determination.

Ingram Micro Inc.                                              Article X-12
401(k) Investment Savings Plan
<PAGE>

                                   ARTICLE XI
                               MANAGEMENT OF FUNDS

11.1  Appointment of Trustees

      Subject to the provisions of Section 11.4, the Company shall appoint one
      or more Trustees to receive and hold in trust all contributions paid into
      the Trust Fund. Such Trustee or Trustees shall serve at the pleasure of
      the Board of Directors and shall have such rights, powers and duties as
      the Board of Directors shall from time to time determine including but not
      limited to those stated below.

11.2  Investment of Trust Fund by Trustees

      All contributions made to the Trust Fund pursuant to the Plan shall be
      paid to the Trustees and, except as herein otherwise provided, shall be
      held, invested and reinvested by the Trustees without distinction between
      principal and income in such securities or such other property, real or
      personal, wherever situated, as the Trustees shall deem advisable,
      including, but not limited to, shares of stock, common or preferred,
      whether or not listed on any exchange, participations in mutual investment
      funds, bonds and mortgages, and other evidences of indebtedness or
      ownership, or in loans to Participants (consistent with other provisions
      hereof), and participations in any common trust fund established or
      maintained by the Trustees for the collective investment of fiduciary
      funds and shall not be limited by any state statute or judicial decision
      prescribing or limiting investments appropriate for trustees. The Trustees
      shall hold and retain all the property and assets of the Trust Fund
      including income from investments and from all other sources, for the
      exclusive benefit of the Participants and their Beneficiaries, as provided
      herein, and for paying the costs and expenses of administering the Plan or

Ingram Micro Inc.                                                   Article XI-1
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<PAGE>

      Trust Fund, to the extent that the same are not paid by any Employer.
      Reasonable expenses attendant to qualified domestic relations order
      determinations shall be allocated to the Account of the Participant or
      Beneficiary seeking the determination.

11.3  Investment of Trust Fund by Investment Manager

      The Company may enter into one or more agreements for the appointment of
      one or more Investment Managers to supervise and direct all the investment
      and reinvestment of a portion or all of the Trust Fund in accordance with
      the provisions of the Plan in the same manner and with the same powers,
      duties, obligations, responsibilities and limitations as apply to the
      Trustees. As a condition to its appointment, an Investment Manager shall
      acknowledge in writing that it is a fiduciary with respect to the Trust
      Fund. An Investment Manager so appointed shall be an investment advisor
      registered under the Investment Advisors Act of 1940, a bank as defined in
      such Act or an insurance company that is qualified to manage the assets of
      employee benefit plans pursuant to the laws of more than one state. The
      Trustees shall be bound by the supervision and direction of the Investment
      Manager, unless and until the Company amends or revokes the appointment or
      authority of the Investment Manager.

      The Company may furnish an Investment Manager with written investment
      guidelines for investment of the Trust Fund assets, which guidelines may
      include directions with respect to diversification of the investments. Any
      Investment Manager shall receive such reasonable compensation chargeable
      against the Trust Fund or payable by each Employer as shall be agreed upon
      by the Company. The Company may revoke any agreement with the Investment
      Manager at any time by thirty (30) days' written notice to the Investment
      Manager. Any Investment Manager may resign by thirty (30) days' written
      notice to the Company.

Ingram Micro Inc.                                                   Article XI-2
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11.4  Exclusive Benefit Rule

      Except as otherwise provided in the Plan, no part of the corpus or income
      of the assets of the Plan shall be used for, or diverted to, purposes
      other than for the exclusive benefit of Participants and other persons
      entitled to benefits under the Plan. No person shall have any interest in
      or right to any part of the earnings of the assets of the Plan, or any
      right in, or to, any part of the assets held under the Plan, except as and
      to the extent expressly provided in the Plan.

Ingram Micro Inc.                                                   Article XI-3
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<PAGE>

                                   ARTICLE XII
                     AMENDMENT, MERGER, TERMINATION OF PLAN

12.1  Amendment of Plan

      Subject to the provisions of Section 11.4, the Company (for the Company
      and for all other Employers) shall have the right at any time to amend the
      Plan, and retroactively if deemed necessary or appropriate, except that no
      such amendment shall make it possible for any part of the assets of the
      Plan to be used for, or diverted to, purposes other than for the exclusive
      benefit of persons entitled to benefits under the Plan. No amendment shall
      be made which has the effect of decreasing the balance of the Accounts of
      any Participant or of reducing the nonforfeitable percentage computed
      under the Plan as in effect on the date on which the amendment is adopted
      or, if later, the date on which the amendment becomes effective.

      If the Plan's vesting schedule is amended, or the Plan is amended in any
      way that directly or indirectly affects the computation of the
      Participant's nonforfeitable percentage or if the Plan is deemed amended
      by an automatic change to or from a top-heavy vesting schedule, each
      Participant with at least three Years of Service with the Employer may
      elect, within a reasonable period after the adoption of the amendment or
      change, to have the nonforfeitable percentage computed under the Plan
      without regard to such amendment or change.

      The Company reserves the right to amend the Plan, at any time and from
      time to time, in whole or in part, including without limitation,
      retroactive amendments necessary or advisable to qualify the Plan and the
      Trust under the provisions of Section 401(a) of the Code by action of its
      Board of Directors. Notwithstanding the above, the Plan may be amended to
      comply

Ingram Micro Inc.                                                  Article XII-1
401(k) Investment Savings Plan

<PAGE>

      with technical legal requirements of ERISA or the Code or for any other
      reason that does not result in a material increase in cost to the Employer
      by a written instrument that is executed by an officer of the Company or a
      member or the Plan Committee.

      Such amendments shall be as set forth in an instrument in writing executed
      by an offer of the Company if adopted by the Company, or by a designated
      member of the Plan committee if adopted by the Plan committee. Any
      amendment may be current, retroactive or prospective, in each case as
      provided therein.

12.2  Merger or Consolidation

      The Plan may not be merged or consolidated with, and its assets or
      liabilities may not be transferred to, any other plan unless each person
      entitled to benefits under the Plan would, if the resulting plan were then
      terminated, receive a benefit immediately after the merger, consolidation,
      or transfer which is equal to or greater than the benefit he would have
      been entitled to receive immediately before the merger, consolidation, or
      transfer if the Plan had then terminated.

12.3  Additional Participating Employers

(a)   If any company is or becomes a subsidiary of or associated with the
      Company, the Company may include any employees of that subsidiary or
      associated company in the participation of the Plan upon appropriate
      action by that company necessary to adopt the Plan. In that event, or if
      any persons become Employees of an Employer as the result of merger or
      consolidation or acquisition of all or part of the assets or business of
      another company or for purposes of a specific assignment at a specific
      location, the Company shall

Ingram Micro Inc.                                                  Article XII-2
401(k) Investment Savings Plan

<PAGE>

      determine to what extent, if any, previous service with the subsidiary,
      associated or other company or at the specific location shall be
      recognized under the Plan, but subject to the continued qualification and
      tax-exempt status of the Plan and trust, respectively, under the Code.

(b)   Any Employer may terminate its participation in and withdraw from the Plan
      upon appropriate action by its board of directors. In that event, the
      assets of the Plan held on account of Participants in the employ of that
      Employer, and any unpaid balances of the Accounts of all Participants who
      have separated from the employ of that Employer, shall be determined by
      the Administrator. Those funds shall be distributed as provided in Section
      12.4 if the Plan should be terminated with respect to the Employer, or
      shall be segregated by the Trustee as a separate trust, pursuant to
      certification to the Trustee by the Administrator, continuing the Plan as
      a separate plan for the Employees of that Employer under which the board
      of directors of that Employer shall succeed to all the powers and duties
      of the Company, including the appointment of an administrator for such
      separate plan.

12.4  Termination of Plan

(a)   The Board of Directors may terminate the Plan or completely discontinue
      contributions under the Plan for any reason at any time. In the case of
      the termination or partial termination of the Plan, or of the complete
      discontinuance of Employer contributions to the Plan, affected
      Participants shall be one hundred percent (100%) vested in and have a
      nonforfeitable right to the total amount in all of their Accounts under
      the Plan as of the date of the termination or discontinuance. The total
      amount in each Participant's Account shall be distributed, as the
      Administrator shall direct, to him or for his benefit or continued in
      trust for his benefit.

Ingram Micro Inc.                                                  Article XII-3
401(k) Investment Savings Plan

<PAGE>

(b)   The Plan will be deemed terminated (1) if and when the Company is
      judicially declared bankrupt or executes a general assignment to or for
      the benefit of its creditors, (2) if and when the Company is a party to a
      merger in which it is not the surviving organization unless the surviving
      organization adopts the Plan within sixty (60) days after the merger, or
      (3) upon dissolution of the Company.

Ingram Micro Inc.                                                  Article XII-4
401(k) Investment Savings Plan

<PAGE>

                                  ARTICLE XIII
                            MISCELLANEOUS PROVISIONS

13.1  Limitation of Liability

      Neither the Company, any Employer, the Administrator, nor any of their
      respective directors, officers and employees, shall incur any liability
      for any act or failure to act unless such act or failure to act
      constitutes willful misconduct or gross negligence in relation to the Plan
      or the Trust Fund.

13.2  Indemnification

      The Employer indemnifies and saves harmless the Administrator from and
      against any and all loss resulting from liability to which the
      Administrator may be subjected by reason of any act or conduct (except
      willful misconduct or gross negligence) in the Administrator's official
      capacity in the administration of the Plan, the Trust Fund or both,
      including all expenses reasonably incurred in the Administrator's defense,
      in case the Employer fails to provide such defense. The indemnification
      provisions of this Section 13.2 do not relieve the Administrator from any
      liability under ERISA for breach of a fiduciary duty. Furthermore, the
      Administrator and the Employer may execute a letter agreement further
      delineating the indemnification agreement of this Section 13.2, provided
      the letter agreement is consistent with and does not violate ERISA. The
      indemnification provisions of this Section 13.2 extend to the Trustee
      solely to the extent provided by a letter agreement executed by the
      Trustee and the Employer.

      The Plan may purchase insurance for its fiduciaries or for itself to cover
      liability or losses occurring by reason of the act or omission of a
      fiduciary, if such insurance permits recourse by the insurer against the
      fiduciary in the

Ingram Micro Inc.                                                 Article XIII-1
401(k) Investment Savings Plan

<PAGE>

      case of a breach of a fiduciary obligation by such fiduciary. A fiduciary
      may purchase insurance to cover liability under ERISA from and for his own
      account. An Employer or an employee organization may purchase insurance to
      cover potential liability of one or more persons who serve in a fiduciary
      capacity with regard to the Plan.

13.3  Compliance with ERISA

      Anything herein to the contrary notwithstanding, nothing above or any
      other provision contained elsewhere in the Plan shall relieve a fiduciary
      or other person of any responsibility or liability for any responsibility,
      obligation or duty imposed upon him pursuant to Title I, Part 4 of ERISA.
      Furthermore, anything in the Plan to the contrary notwithstanding, if any
      provision of the Plan is voided by Sections 410 and 411 of ERISA, such
      provision shall be of no force and effect only to the extent that it is
      voided by such Section.

13.4  Nonalienation of Benefits

(a)   None of the payments, benefits or rights of any Participant shall be
      subject to any claim of any creditor of such Participant and, in
      particular, shall be free from attachment, garnishment, trustee's process,
      or any other legal or equitable process available to any creditor of such
      Participant. No Participant shall have the right to alienate, commute,
      pledge, encumber or assign any of the benefits or payments which he or she
      may expect to receive, contingently or otherwise, under the Plan, except
      the right to designate a Beneficiary or Beneficiaries as hereinbefore
      provided.

(b)   Section 13.4(a) also shall apply to the creation, assignment or
      recognition of a right to any benefit payable with respect to a
      Participant pursuant to a domestic relations order, unless such order is a
      qualified domestic

Ingram Micro Inc.                                                 Article XIII-2
401(k) Investment Savings Plan

<PAGE>

      relations order as defined in Section 414(p) of the Code. Any fees
      associated with the review, processing and administration of a qualified
      domestic relations order shall be charged against the Account of the
      affected Participant and the account of the affected Alternate Payee. The
      Plan's qualified domestic relations order procedures are set forth in a
      separate document, which in incorporated herein as if its terms were fully
      set forth in this document.

(c)   The Plan may offset against the Account of any Participant, any amount
      that the Participant is ordered or required to pay under a judgment,
      order, decree or settlement described in ERISA Section 206(d)(4) and
      Section 401(a)(13)(C) of the Code.

13.5  Employment Not Guaranteed By Plan

      Neither the establishment of the Plan nor its amendment nor the granting
      of a benefit pursuant to the Plan shall be construed as giving any
      Participant the right to continue as an Employee of an Employer, as
      limiting the rights of such Employer to dismiss or impose penalties upon
      the Participant or as modifying in any other way the terms of employment
      of any Participant.

13.6  Protected Benefits

      All benefits which are protected by the terms of Section 411(d)(6) of the
      Code and Section 204(g) of ERISA, which cannot be eliminated without
      adversely affecting the qualified status of the Plan on and after the
      Effective Date, will be provided under the Plan to Participants for whom
      such benefits are protected.

Ingram Micro Inc.                                                 Article XIII-3
401(k) Investment Savings Plan

<PAGE>

13.7  Form of Communication

      Any election, application, claim, notice or other communication required
      or permitted to be made by or to a Participant, the Administrator, the
      Company, or an Employer in writing shall be made in such form as the
      Administrator, the Company or the Employer, as the case may be, shall
      prescribe. Such communication shall be effective upon mailing if sent
      first class, postage prepaid and addressed to the addressee at its
      principal office, or to the Participant at his last known address, or upon
      personal delivery, if delivered to an officer of the addressee or to the
      Participant, as the case may be.

      Notwithstanding anything in the Plan to the contrary, any notice, form or
      other communication hereunder shall be made in the manner prescribed by
      the Administrator in accordance with applicable law, which may include, in
      appropriate circumstances, communication by telephone or by electronic or
      other means.

13.8  Facility of Payment

      If the Participant entitled to receive payments hereunder is unable to
      care for his affairs because of illness, accident or disability, and a
      duly qualified guardian or legal representative is appointed for such
      Participant, the Administrator shall direct the Trustees to pay any amount
      to which the Participant is entitled to such duly qualified guardian or
      legal representative upon claim of such guardian or legal representative.
      If a duly qualified guardian or legal representative is not appointed for
      such Participant, the Administrator shall direct the Trustees to pay any
      amount to which the Participant is entitled to such person's Spouse,
      child, grandchild, parent, brother or sister or to a person deemed by the
      Administrator to have incurred expense for such person entitled to
      payment. Any payment made pursuant

Ingram Micro Inc.                                                 Article XIII-4
401(k) Investment Savings Plan

<PAGE>

      to this Section 13.8 in good faith shall be a payment for the account of
      the Participant and shall be a complete discharge from any liability of
      the Trust Fund or the Trustees therefor.

13.9  Reduction for Overpayment

      The Administrator will, whenever it determines that a person has received
      a benefit payment under the Plan in excess of the amount to which the
      person is entitled under the terms of the Plan, make a reasonable attempt
      to collect such overpayment from the person. The amount of any overpayment
      may be set off against further amounts payable to or on account of the
      person who received the overpayment.

13.10 Unclaimed Benefits

      If the Administrator cannot ascertain the whereabouts of any person to
      whom a payment is due under the Plan, and if, after five (5) years from
      the date such payment is due, a notice of such payment due is mailed to
      the last known address of such person, as shown on the records of the
      Employer and within three (3) months after such mailing such person has
      not made written claim therefor, the Administrator, if it so elects, after
      receiving advice from counsel to the Plan, may direct that such payment
      and all remaining payments otherwise due to such person be cancelled on
      the records of the Plan and the amount thereof applied in any manner
      permitted by Section 6.3, and upon such cancellation, the Plan and the
      Trust shall have no further liability therefor except that, in the event
      such person later notifies the Administrator of his whereabouts and
      requests the payment or payments due to him, the amount so applied shall
      be paid to him as provided in Article

Ingram Micro Inc.                                                 Article XIII-5
401(k) Investment Savings Plan

<PAGE>

      VIII without adjustment for gains and losses.

13.11 Receipt and Release

      Subject to the provisions of ERISA and to the extent permitted by ERISA,
      any final payments or distribution to any Participant, his Beneficiary or
      his legal representative in accordance with the Plan shall be in full
      satisfaction of all claims against the Trust, the Trustee, the
      Administrator, and the Employer. The Trustee, the Employer, the
      Administrator, or any combination of them may require a Participant, his
      Beneficiary or his legal representative to execute a receipt and release
      of all claims under the Plan upon a final payment or distribution or a
      receipt to the extent of any partial payment or distribution; and the form
      of any such receipt and release shall be determined by the Trustee, the
      Employer, the Administrator or any combination of them.

13.12 Reliance on Information Provided to the Plan

      Notwithstanding anything contained herein to the contrary, if an
      individual is provided a statement in confirmation of any election or
      information provided to the Plan by such individual hereunder, the
      election or information reflected on such confirmation statement will be
      deemed to be accurate and may be conclusively relied upon for all purposes
      hereunder unless the individual timely demonstrates to the Administrator,
      in the form and manner established by the Administrator, that the election
      or information reflected on the confirmation statement is not what the
      individual originally delivered to the Administrator.

13.13 Service in More Than One Fiduciary Capacity

Ingram Micro Inc.                                                 Article XIII-6
401(k) Investment Savings Plan

<PAGE>

      Any individual, entity or group of persons may serve in more than one
      fiduciary capacity with respect to the Plan, the Trust Fund or both.

13.14 Binding Effect of Company's Actions

      Each Employer shall be bound by any and all decisions and actions taken by
      the Company hereunder.

13.15 Military Service

      Notwithstanding any other provision of the Plan to the contrary, service
      credit and contributions with respect to qualified Military Service will
      be provided in accordance with Section 414(u) of the Code.

13.16 Limitation of Rights

      All benefits provided hereunder shall be provided solely from the Trust
      and a person claiming an interest under the Plan shall not have recourse
      towards satisfaction of his or her benefits from other than the assets of
      the Trust. Neither the Employer nor the Administrator represents or
      guarantees that the value of a Participant's Accounts shall at any time
      equal or exceed the amount previously contributed thereto. Neither the
      establishment of the Plan and Trust nor any modification thereof, nor the
      creating of any fund or account, nor the payment of any benefits shall be
      construed as giving to any Participant or other person any legal or
      equitable right against the Employer or the Trustee except as provided in
      the Plan and Trust Agreement.

13.17 Governing Law

      Except to the extent inconsistent with and preempted by ERISA or other
      applicable Federal law, the Plan and all matters arising thereunder shall
      be

Ingram Micro Inc.                                                 Article XIII-7
401(k) Investment Savings Plan

<PAGE>

      governed by the laws of the State of California. If any provision of the
      Plan is susceptible to more than one interpretation, such interpretation
      shall be given thereto as is consistent with the Plan being a qualified
      employees' defined contribution plan within the meaning of the Code.

IN WITNESS WHEREOF, and as evidence of the adoption of the Plan, the undersigned
officer duly authorized has appended his signature this 14 day of December,
2005.

                                           Ingram Micro Inc.

                                           By: /s/ Matthew A. Sauer
                                               ---------------------------------

Ingram Micro Inc.                                                 Article XIII-8
401(k) Investment Savings Plan<PAGE>

                                                                    EXHIBIT 10.9

                         COMPENSATION DEFERRAL AGREEMENT

      This Compensation Deferral Agreement, dated as of December 30, 2004, is
by and between INGRAM MICRO INC., a Delaware corporation (the "Company"), and
KEVIN MURAI ("Executive").

1.    DEFERRAL OF BASE SALARY. During and in respect of the period commencing on
January 1, 2005 and ending on December 31, 2005 (the "Compensation Period"),
Executive elects to defer receipt of 5.0% of the base salary otherwise payable
to him (the "Deferred Salary"). The Deferred Salary, with earnings thereon
calculated pursuant to Section 4 hereof, shall be paid to Executive as provided
in Section 5 hereof.

2.    DEFERRAL OF ANNUAL BONUS. Executive elects not to defer any amount
otherwise payable to Executive pursuant to the Company's Executive Incentive
Award Plan with respect to the Compensation Period.

3.    ADJUSTMENT TO DEFERRED SALARY. During the Compensation Period, the amount
of Deferred Salary shall be increased by the "Company Match", which is the
amount of Executive's base salary which the Company would have contributed to
the Ingram Micro 401(k) Investment Savings Plan or the Ingram Micro Supplemental
Investment Savings Plan if Executive had elected to contribute at least 5% of
his base salary to such plans. The Company Match, with earnings thereon
calculated pursuant to Section 4 hereof, shall be paid to Executive as provided
in Section 5 hereof.

4.    EARNINGS. Subject to Section 6 hereof, the Deferred Salary and Company
Match shall be increased or decreased, as the case may be, by the imputed
earnings or losses which would have accrued to such amounts had they been
deferred pursuant to the Ingram Micro Supplemental Investment Savings Plan from
the dates payment or credit would, but for this Agreement, be made, to the most
recent date prior to the date of actual payment practicable to permit the
calculations of the amount due to be made and payment to be processed
("Earnings"). For purposes of determining Earnings, Executive may choose in the
manner designated by the Company from time to time, and in such proportions as
he may determine (provided that the allocations shall be in 5% increments),
among any or all of the investment options provided by the Ingram Micro
Supplemental Investment Savings Plan.

5.    PAYMENT OF DEFERRED SALARY. Subject to Section 6 hereof, the Deferred
Salary, Company Match and Earnings thereon shall be paid to Executive in
accordance with the most recent Executive Deferred Compensation Distribution and
Investment Election Form on file with the Company, provided that the date of the
said form is at least one year prior the distribution date. The Company shall
withhold from such payment all federal, state, city or other taxes as are
legally required to be withheld.

6.    SOURCE OF PAYMENTS. The obligations of the Company under this Agreement
represents an unsecured, unfunded promise to pay benefits to Executive and/or
Executive's beneficiaries, and shall not entitle Executive or such beneficiaries
to a preferential claim to any asset of the Company. All payments of Deferred
Salary, Company match and Earnings shall be paid in cash from the general funds
of the Company no special or separate fund shall be established and no other
segregation of

<PAGE>

assets shall be made to assure the payment of such deferred amounts. Executive
shall have no right, title, or interest whatever in or to any investments which
the Company may make to aid it in meeting its obligation hereunder. Nothing
contained in this Agreement, 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 and Executive or any other person. To the
extent Executive has or acquires any rights to receive payments from the
Company, such rights shall be no greater than the right of an unsecured
creditor.

7.    NEW COMPANY COMPENSATION DEFERRAL PLAN. Notwithstanding Section 4 or 5
hereof, in the event that the Company adopts a plan pursuant to which executives
of the Company my elect to defer payment of compensation, the determination of
Earnings and the terms and conditions of payment of Deferred Salary and Deferred
Bonuses Shall be governed by and subject to the terms and conditions of such
plan.

8.    GENERAL PROVISIONS. The Agreement shall be binding upon and inure to the
benefit of the Company and its successors and assigns, and Executive, his
designees, and his estate. Neither Executive, his designees, nor his estate
shall commute, pledge, encumber, sell or otherwise dispose of the right to
receive the payments provided for in this Agreement, which payments and the
rights thereto are expressly declared to be nontransferable and nonassignable.
This Agreement shall be governed by the laws of the State of California without
reference to principles of conflicts of laws. This Agreement represents the
entire agreement between Executive and the Company with respect to the subject
matter hereof, and this Agreement may not be amended or modified except by a
writing signed by the parties hereto, provided that nothing herein shall affect
Executive's rights under, or right to become covered by, any employee benefit
program provided by the Company to its executive employees generally.

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

      KEVIN MURAI                       INGRAM MICRO INC.

      /s/ Kevin Murai    Dec. 30/04     By: /s/ Thomas Berry
      ---------------    ----------         -----------------------------------
                         Date           Title: Sr. Dir. Compensation & Benefits

                                        Date: 12-30-04

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