Document:

EX-10.1

Exhibit 10.1(a)

AVNET, INC.

TERM SHEET FOR 2010 STOCK COMPENSATION PLAN

NONQUALIFIED STOCK OPTIONS

FOR GOOD AND VALUABLE CONSIDERATION, Avnet, Inc. (the “Company”), hereby grants to the Participant
named below the nonqualified stock option (the “Option”) to purchase any part or all of the number
of shares of its common stock (the “Stock”) that are covered by this Option, as specified below, at
the exercise price per share specified below and upon the terms and subject to the conditions set
forth in this Term Sheet, the Avnet, Inc. 2010 Stock Compensation Plan (the “Plan”), and the
Standard Terms and Conditions for Nonqualified Stock Options (the “Standard Terms and Conditions”)
attached to this Term Sheet.

	 	 	 	 	 
	Name of Participant:
	 	 	 	 
	 
	 	 	 	 
	Social Security Number:
	 	 	 	 
	 
	 	 	 	 
	Grant Date:
	 	 	 	 
	 
	 	 	 	 
	Number of Shares of Stock covered by Option:
	 	 	 	 
	 
	 	 	 	 
	Exercise Price Per Share:
	 	$	 	 
	 
	 	 	 	 
	Expiration Date:
	 	 	 	 
	 
	 	 	 	 
	Vesting Schedule:
	 	 	 	 
	 
	 	 	 	 

This Option is not intended to qualify as an incentive stock option under Section 422 of the
Internal Revenue Code of 1986, as amended. By accepting this Term Sheet, the Participant
acknowledges that he or she has received and read, and agrees that this Option shall be subject to,
the terms of this Term Sheet, the Plan, and the Standard Terms and Conditions.

	 	 	 
	AVNET, INC.

	 	

	
 
	 	Participant’s Printed Name

     

Participant Signature
	By:

	 	

	Title:

	 	Address (please print):

AVNET, INC.

STANDARD TERMS AND CONDITIONS FOR

NONQUALIFIED STOCK OPTIONS

These Standard Terms and Conditions for Nonqualified Stock Options (the “Standard Terms and
Conditions”) apply to any Options granted under the Avnet, Inc. 2010 Stock Compensation Plan (the
“Plan”) that are identified as nonqualified stock options and evidenced by a Term Sheet or an
action of the Administrator that refers to these Standard Terms and Conditions.

	1.	 	TERMS OF OPTION

Avnet, Inc. (“Avnet”) has granted to the Participant named in the attached Term Sheet a
nonqualified stock option (the “Option”) to purchase up to the number of shares of Avnet’s
common stock (the “Stock”) set forth in the Term Sheet, at the purchase price per share and
upon the other terms and subject to the conditions set forth in the Term Sheet, these
Standard Terms and Conditions, and the Plan. For purposes of these Standard Terms and
Conditions and the Term Sheet, the “Company” refers to Avnet and its Subsidiaries.

	2.	 	NON-QUALIFIED STOCK OPTION

The Option is not intended to be an incentive stock option under Section 422 of the Internal
Revenue Code of 1986, as amended (the “Code”).

	3.	 	EXERCISE OF OPTION

The Option shall not be exercisable as of the grant date set forth in the Term Sheet (the
“Grant Date”). After the Grant Date, the Option shall be exercisable only to the extent
that it becomes vested in accordance with the vesting schedule set forth in the Term Sheet,
subject to termination or acceleration as provided in these Standard Terms and Conditions
and the Plan. If the Participant’s employment with the Company terminates, the Option shall
cease to be exercisable, except to the extent set forth in Section 4, below.

The vesting period and/or exercisability of an Option may be adjusted by the Administrator
to reflect the decreased level of employment during any period in which the Participant is
on an approved leave of absence or is employed on a less than full time basis, provided that
the Administrator may take into consideration any accounting consequences to the Company.

To exercise the Option (or any part thereof), the Participant shall deliver to Avnet a
“Notice of Exercise” on a form specified by the Administrator, specifying the number of
whole shares of Stock Participant wishes to purchase, and shall pay the Exercise Price for
such shares.

The exercise price of the Option (the “Exercise Price”) is set forth in the Term Sheet. The
Exercise Price and/or any required tax withholding may be paid in cash or by certified or
cashiers’ check, by “cashless” exercise methods such as direct share withholding, or by such
other method (including transfer of Stock previously owned by the Participant, or
broker-assisted Regulation T simultaneous exercise and sale), as the Administrator permits
in its sole discretion. Fractional shares may not be exercised.

Shares of Stock will be issued as soon as practical after exercise; provided, however, that
Avnet shall not be obligated to deliver shares of Stock if (a) the Participant has not
satisfied all applicable tax withholding obligations, (b) the Stock is not properly
registered or subject to an applicable exemption therefrom, (c) the Stock is not listed on
the stock exchanges on which Avnet’s Stock is otherwise listed, or (d) Avnet determines that
the exercisability of the Option or the delivery of shares hereunder would violate any
federal or state securities or other applicable laws. The Option may be rescinded if
necessary to ensure compliance with federal, state or other applicable laws. The
Participant shall not acquire or have any rights as a shareholder of Avnet until shares of
Stock issuable upon exercise of the Option are actually issued and delivered to the
Participant in accordance herewith.

	4.	 	EXPIRATION OF OPTION

Except as provided in this Section 4, the Option shall expire and cease to be exercisable as
of the Expiration Date set forth in the Term Sheet.

	 	A.	 	If the Participant’s employment or service with the Company terminates prior to
a Change in Control for any reason other than death, disability, or Retirement (as
defined below), the Option shall immediately expire and cease to be exercisable.

	 	B.	 	If the Participant’s employment or service with the Company terminates by
reason of Retirement (as defined below), the Option shall continue to vest as set forth
in the Term Sheet and these Standard Terms and Conditions and, subject to the special
rules that apply in the event of death (as set forth in Paragraph D, below), shall
remain exercisable until the earlier of (i) the fifth anniversary of the termination
event or (ii) the Expiration Date (unless such Option shall sooner be surrendered for
termination or expire). For purposes hereof, a cessation of employment will be treated
as a “Retirement” if (and only if) (a) the cessation of employment occurs after (I) the
Participant has attained at least age 55 and been credited with at least five years of
service with the Company and (II) the combination of the Participant’s age plus years
of service is no less than 65; and (b) the Participant has signed a two-year
non-competition agreement in a form acceptable to the Company.

	 	C.	 	If the Participant’s employment or service with the Company terminates by
reason of disability (as determined by the Administrator in its sole discretion), the
Option shall remain exercisable only to the extent vested as of such cessation of
employment and shall cease to be exercisable upon the earlier of (i) three months after
the date of the termination event or (ii) the Expiration Date (unless such Option shall
sooner be surrendered for termination or expire).

	 	D.	 	If the Participant’s employment or service with the Company terminates by
reason of death or the Participant dies within five years after Retirement from the
Company (as defined above), the Option shall be exercisable only to the extent vested
as of the date of death and shall cease to be exercisable upon the earliest of (i) the
first anniversary of the Participant’s death, (ii) the Expiration Date, or (iii) the
fifth anniversary of the Participant’s termination date, as set forth in Paragraph B,
above.

	 	E.	 	Notwithstanding any other provision of these Standard Terms and Conditions, in
the event of a Change in Control, the Option shall become immediately exercisable in
full (unless it shall sooner have been surrendered for termination or have expired).

	 	F.	 	In the event of a public solicitation by any person, firm or corporation other
than the Company, of tenders of 50% or more of the then outstanding Stock (known
conventionally as a “tender offer”), the Administrator may (in its sole discretion)
accelerate exercisability of the Option if the Participant is then employed with the
Company, so that the Option shall become immediately exercisable in full; provided,
however, that any such accelerated exercisability shall cease upon the expiration,
termination or withdrawal of such “tender offer,” whereupon the Option shall be
exercisable only to the extent that it would have been exercisable if no such
acceleration or exercisability had been authorized.

	5.	 	RESTRICTIONS ON RESALES OF OPTION SHARES

The Company may impose such restrictions, conditions, and limitations as it determines
appropriate as to the timing and manner of any resales by the Participant or other
subsequent transfers by the Participant of any shares of Stock issued as a result of the
exercise of the Option, including (a) restrictions under an insider trading policy,
(b) restrictions designed to delay and/or coordinate the timing and manner of sales by the
Participant and other optionholders, and (c) restrictions as to the use of a specified
brokerage firm for such resales or other transfers.

	6.	 	TAXES

The Participant acknowledges that the delivery of shares of Stock following exercise of the
Option will generally give rise to a withholding tax obligation, and that the issuance of
            shares of Stock hereunder is conditioned on timely satisfying such withholding obligation.
The Participant shall make arrangements satisfactory to the Company for satisfying such
withholding obligations. The Administrator, in its sole discretion, may allow the
Participant to satisfy all or part of such tax obligation through withholding of shares of
Stock otherwise issuable to the Participant; the Participant transferring to Avnet
nonrestricted shares of Stock previously owned by the Participant; and/or allowing the
Participant to engage in a broker-assisted Regulation T simultaneous exercise and sale. No
provision of the Plan, the Term Sheet, or these Standard Terms and Conditions shall be
construed to transfer to the Company or any of its affiliates any responsibility to pay any
income, employment, excise, or other taxes attributable to the grant or exercise of the
Option or the disposition of the underlying shares.

	7.	 	NON-TRANSFERABILITY OF OPTION

Except to the extent permitted by this Section 7, the Option shall be exercisable during the
Participant’s lifetime only by the Participant. The Option may not be sold, transferred,
pledged, assigned, exchanged, encumbered, or otherwise alienated or hypothecated, except (i)
by testamentary disposition by the Participant or the laws of descent and distribution, or
(ii) to the extent otherwise permitted by the Plan, if (and only if) approved by the
Administrator in its sole discretion.

	8.	 	THE PLAN; DEFINED TERMS; ENTIRE AGREEMENT

In addition to these Standard Terms and Conditions, the Option shall be subject to the terms
of the Plan, which are incorporated into these Standard Terms and Conditions by this
reference. Capitalized terms not otherwise defined herein shall have the meaning set forth
in the Plan, and the rules of construction set forth in the Plan shall also apply to these
Standard Terms and Conditions.

The Term Sheet, these Standard Terms and Conditions, and the Plan constitute the entire
understanding between the Participant and the Company regarding the Option. Any prior
agreements, commitments or negotiations concerning the Option are superseded.

	9.	 	LIMITATION OF INTEREST IN SHARES SUBJECT TO OPTION

Neither the Participant (individually or as a member of a group) nor any beneficiary or
other person claiming under or through the Participant shall have any right, title,
interest, or privilege in or to any shares of Stock allocated or reserved for the purpose of
the Plan or subject to the Term Sheet or these Standard Terms and Conditions, except as to
such shares of Stock, if any, that have been issued to such person upon exercise of the
Option or any part of it. Nothing in the Plan, the Term Sheet, these Standard Terms and
Conditions, or any other instrument executed pursuant to the Plan shall confer upon the
Participant any right to continue in the Company’s employ or service or limit in any way the
Company’s right to terminate the Participant’s employment or service at any time and for any
reason.

Neither the Award of this Option nor any shares of Stock issuable pursuant thereto shall be
included in compensation for purposes of determining the amount payable to or on behalf of
the Participant under any pension, savings, retirement, life insurance, or other employee or
director benefits arrangement of the Company, unless otherwise determined by the plan
sponsor.

	10.	 	GENERAL

If any provision of these Standard Terms and Conditions is declared to be illegal, invalid,
or otherwise unenforceable by a court of competent jurisdiction, such provision shall be
reformed, if possible, to the extent necessary to render it legal, valid, and enforceable,
or otherwise deleted, and the remainder of these Standard Terms and Conditions shall not be
affected except to the extent necessary to reform or delete such illegal, invalid, or
unenforceable provision.

The headings preceding the text of the sections hereof are inserted solely for convenience
of reference, and shall not constitute a part of these Standard Terms and Conditions, nor
shall they affect its meaning, construction, or effect.

These Standard Terms and Conditions shall inure to the benefit of and be binding upon the
parties hereto and their respective permitted heirs, beneficiaries, successors and assigns.

The Participant acknowledges that a copy of the Plan, the Plan prospectus, and Avnet’s most
recent annual report to its shareholders has been delivered to the Participant.

The Plan, the Term Sheet, and these Standard Terms and Conditions shall be governed,
construed, interpreted, and administered solely in accordance with the laws of the state of
New York, without regard to principles of conflicts of law.

All questions arising under the Plan, the Term Sheet, and these Standard Terms and
Conditions shall be decided by the Administrator in its total and absolute discretion. It
is expressly understood that the Administrator is authorized to administer, construe, and
make all determinations necessary or appropriate to the administration of the Plan, the Term
Sheet, and these Standard Terms and Conditions; all such determinations shall be binding
upon the Participant.

1

Exhibit 10.1 (b)

AVNET, INC.

TERM SHEET FOR 2010 STOCK COMPENSATION PLAN

INCENTIVE STOCK OPTIONS

FOR GOOD AND VALUABLE CONSIDERATION, Avnet, Inc. (the “Company”), hereby grants to the Participant
named below the incentive stock option (the “Option”) to purchase any part or all of the number of
shares of its common stock (the “Stock”) that are covered by this Option, as specified below, at
the exercise price per share specified below and upon the terms and subject to the conditions set
forth in this Term Sheet, the Avnet, Inc. 2010 Stock Compensation Plan (the “Plan”), and the
Standard Terms and Conditions for Incentive Stock Options (the “Standard Terms and Conditions”)
attached to this Term Sheet.

	 	 	 	 	 
	Name of Participant:

	 	

	 

	 	

	Social Security Number:

	 	

	 

	 	

	Grant Date:

	 	

	 

	 	

	Number of Shares of Stock covered by Option:

	 	

	 

	 	

	Exercise Price Per Share:

	 	 	$	 
	 

	 	 	 	 
	Expiration Date:

	 	

	 

	 	

	Vesting Schedule:

	 	

	 

	 	

This Option is intended to qualify as an incentive stock option under Section 422 of the Internal
Revenue Code of 1986, as amended. By accepting this Term Sheet, the Participant acknowledges that
he or she has received and read, and agrees that this Option shall be subject to, the terms of this
Term Sheet, the Plan, and the Standard Terms and Conditions.

	 	 	 
	AVNET, INC.

By:

	 	     

Participant’s Printed Name
	 

	 	

	Title:

	 	Participant Signature
	 

	 	

	
 
	 	Address: (please print)

AVNET, INC.

STANDARD TERMS AND CONDITIONS FOR

INCENTIVE STOCK OPTIONS

These Standard Terms and Conditions for Incentive Stock Options (the “Standard Terms and
Conditions”) apply to any Options granted under the Avnet, Inc. 2010 Stock Compensation Plan (the
“Plan”) that are identified as incentive stock options and evidenced by a Term Sheet or an action
of the Administrator that refers to these Standard Terms and Conditions.

	1.	 	TERMS OF OPTION

Avnet, Inc. (“Avnet”) has granted to the Participant named in the attached Term Sheet an
incentive stock option (the “Option”) to purchase up to the number of shares of Avnet’s
common stock (the “Stock”) set forth in the Term Sheet, at the purchase price per share and
upon the other terms and subject to the conditions set forth in the Term Sheet, these
Standard Terms and Conditions, and the Plan. For purposes of these Standard Terms and
Conditions and the Term Sheet, the “Company” refers to Avnet and its Subsidiaries.

The Option is intended to be an incentive stock option under Section 422 of the Internal
Revenue Code of 1986, as amended (the “Code”), except to the extent otherwise provided
herein. To the extent required by Section 422(d) of the Code, the Option shall not be
treated as an incentive stock option to the extent that the aggregate fair market value of
            shares of Stock with respect to incentive stock options that are exercisable for the first
time during any calendar year exceeds $100,000.

	2.	 	EXERCISE OF OPTION

The Option shall not be exercisable as of the grant date set forth in the Term Sheet (the
“Grant Date”). After the Grant Date, the Option shall be exercisable only to the extent
that it becomes vested in accordance with the vesting schedule set forth in the Term Sheet,
subject to termination or acceleration as provided in these Standard Terms and Conditions
and the Plan. If the Participant’s employment with the Company terminates, the Option shall
cease to be exercisable, except to the extent set forth in Section 4, below.

The vesting period and/or exercisability of an Option may be adjusted by the Administrator
to reflect the decreased level of employment during any period in which the Participant is
on an approved leave of absence or is employed on a less than full time basis, provided that
the Administrator may take into consideration any accounting consequences to the Company.

To exercise the Option (or any part thereof), the Participant shall deliver to Avnet a
“Notice of Exercise” on a form specified by the Administrator, specifying the number of
whole shares of Stock Participant wishes to purchase, and shall pay the Exercise Price for
such shares.

The exercise price of the Option (the “Exercise Price”) is set forth in the Term Sheet. The
Exercise Price and/or any required tax withholding may be paid in cash or by certified or
cashiers’ check, by “cashless” exercise methods such as direct share withholding, or by such
other method (including transfer of Stock previously owned by the Participant, or
broker-assisted Regulation T simultaneous exercise and sale), as the Administrator permits
in its sole discretion. Fractional shares may not be exercised.

Shares of Stock will be issued as soon as practical after exercise; provided, however, that
Avnet shall not be obligated to deliver shares of Stock if (a) the Participant has not
satisfied all applicable tax withholding obligations, (b) the Stock is not properly
registered or subject to an applicable exemption therefrom, (c) the Stock is not listed on
the stock exchanges on which Avnet’s Stock is otherwise listed, or (d) Avnet determines that
the exercisability of the Option or the delivery of shares hereunder would violate any
federal or state securities or other applicable laws. The Option may be rescinded if
necessary to ensure compliance with federal, state or other applicable laws. The
Participant shall not acquire or have any rights as a shareholder of Avnet until shares of
Stock issuable upon exercise of the Option are actually issued and delivered to the
Participant in accordance herewith.

	3.	 	EXPIRATION OF OPTION

Except as provided in this Section 3, the Option shall expire and cease to be exercisable as
of the Expiration Date set forth in the Term Sheet.

	 	A.	 	If the Participant ceases to be employed by the Company prior to a Change in
Control for any reason other than death, disability, or Retirement (as defined below),
the Option shall immediately expire and cease to be exercisable.

	 	B.	 	If the Participant ceases to be employed by the Company by reason of Retirement
(as defined below), the Option shall continue to vest as set forth in the Term Sheet
and these Standard Terms and Conditions and, subject to the special rules that apply in
the event of death (as set forth in Paragraph D, below), shall remain exercisable until
the earlier of (i) the fifth anniversary of the Participant’s cessation of employment
with the Company or (ii) the Expiration Date (unless such Option shall sooner be
surrendered for termination or expire). However, to the extent required by Section 422
of the Code, the Option shall cease to be an incentive stock option three months after
the Participant ceases to be an employee of the Company and shall thereafter be a
nonqualified stock option. For purposes hereof, a cessation of employment will be
treated as a “Retirement” if (and only if) (a) the cessation of employment occurs after
(I) the Participant has attained at least age 55 and been credited with at least five
years of service with the Company and (II) the combination of the Participant’s age
plus years of service is no less than 65; and (b) the Participant has signed a two-year
non-competition agreement in a form acceptable to the Company.

	 	C.	 	If the Participant ceases to be employed by the Company by reason of disability
(as determined by the Administrator in its sole discretion), the Option shall remain
exercisable only to the extent vested as of such cessation of employment and shall
cease to be exercisable upon the earlier of (i) three months after the date of such
cessation of employment or (ii) the Expiration Date (unless such Option shall sooner be
surrendered for termination or expire).

	 	D.	 	If the Participant dies either while in the employ of the Company or within
five years after Retirement from the Company (as defined above), the Option shall be
exercisable only to the extent vested as of the date of death and shall cease to be
exercisable upon the earliest of (i) the first anniversary of the Participant’s death,
(ii) the Expiration Date, or (iii) the fifth anniversary of the Participant’s
termination date, as set forth in Paragraph B, above. If the Participant dies while
actively employed, or within three months after the Participant’s cessation of
employment with the Company, the Option will continue to be treated as an incentive
stock option until the earliest of the dates described in the preceding sentence. If
the Participant’s death occurs more than three (3) months after the Participant’s
cessation of employment with the Company, the Option will cease to be an incentive
stock option and will be treated as a nonqualified stock option.

	 	E.	 	Notwithstanding any other provision of these Standard Terms and Conditions, in
the event of a Change in Control, the Option shall become immediately exercisable in
full (unless it shall sooner have been surrendered for termination or have expired).

	 	F.	 	In the event of a public solicitation by any person, firm or corporation other
than the Company, of tenders of 50% or more of the then outstanding Stock (known
conventionally as a “tender offer”), the Administrator may (in its sole discretion)
accelerate exercisability of the Option if the Participant is then employed with the
Company, so that the Option shall become immediately exercisable in full; provided,
however, that any such accelerated exercisability shall cease upon the expiration,
termination or withdrawal of such “tender offer,” whereupon the Option shall be
exercisable only to the extent that it would have been exercisable if no such
acceleration or exercisability had been authorized.

	4.	 	RESTRICTIONS ON RESALES OF OPTION SHARES

The Company may impose such restrictions, conditions, and limitations as it determines
appropriate as to the timing and manner of any resales by the Participant or other
subsequent transfers by the Participant of any shares of Stock issued as a result of the
exercise of the Option, including (a) restrictions under an insider trading policy,
(b) restrictions designed to delay and/or coordinate the timing and manner of sales by the
Participant and other optionholders, and (c) restrictions as to the use of a specified
brokerage firm for such resales or other transfers.

	5.	 	TAXES

The Participant acknowledges that the delivery of shares of Stock following exercise of the
Option will generally give rise to a withholding tax obligation, and that the issuance of
            shares of Stock hereunder is conditioned on timely satisfying such withholding obligation.
The Participant shall make arrangements satisfactory to the Company for satisfying such
withholding obligations. The Administrator, in its sole discretion, may allow the
Participant to satisfy all or part of such tax obligation through withholding of shares of
Stock otherwise issuable to the Participant; the Participant transferring to Avnet
nonrestricted shares of Stock previously owned by the Participant; and/or allowing the
Participant to engage in a broker-assisted Regulation T simultaneous exercise and sale. No
provision of the Plan, the Term Sheet, or these Standard Terms and Conditions shall be
construed to transfer to the Company or any of its affiliates any responsibility to pay any
income, employment, excise, or other taxes attributable to the grant or exercise of the
Option or the disposition of the underlying shares.

	6.	 	NON-TRANSFERABILITY OF OPTION

To the extent that the Option is intended to be an incentive stock option, and to the extent
required by Section 422 of the Code, the Option: (i) shall be exercisable during the
Participant’s lifetime only by the Participant, and (ii) may not be sold, transferred,
pledged, assigned, exchanged, encumbered, or otherwise alienated or hypothecated, except by
testamentary disposition by the Participant or the laws of descent and distribution.

If the Option is not an incentive stock option, then except to the extent permitted by this
paragraph, the Option shall be exercisable during the Participant’s lifetime only by the
Participant. The Option may not be sold, transferred, pledged, assigned, exchanged,
encumbered, or otherwise alienated or hypothecated, except (i) by testamentary disposition
by the Participant or the laws of descent and distribution, or (ii) to the extent otherwise
permitted by the Plan, if (and only if) approved by the Administrator in its sole
discretion.

	7.	 	THE PLAN; DEFINED TERMS; ENTIRE AGREEMENT

In addition to these Standard Terms and Conditions, the Option shall be subject to the terms
of the Plan, which are incorporated into these Standard Terms and Conditions by this
reference. Capitalized terms not otherwise defined herein shall have the meaning set forth
in the Plan, and the rules of construction set forth in the Plan shall also apply to these
Standard Terms and Conditions.

The Term Sheet, these Standard Terms and Conditions, and the Plan constitute the entire
understanding between the Participant and the Company regarding the Option. Any prior
agreements, commitments or negotiations concerning the Option are superseded.

	8.	 	LIMITATION OF INTEREST IN SHARES SUBJECT TO OPTION

Neither the Participant (individually or as a member of a group) nor any beneficiary or
other person claiming under or through the Participant shall have any right, title,
interest, or privilege in or to any shares of Stock allocated or reserved for the purpose of
the Plan or subject to the Term Sheet or these Standard Terms and Conditions, except as to
such shares of Stock, if any, that have been issued to such person upon exercise of the
Option or any part of it. Nothing in the Plan, the Term Sheet, these Standard Terms and
Conditions, or any other instrument executed pursuant to the Plan shall confer upon the
Participant any right to continue in the Company’s employ or service or limit in any way the
Company’s right to terminate the Participant’s employment at any time and for any reason.

Neither the Award of this Option nor any shares of Stock issuable pursuant thereto shall be
included in compensation for purposes of determining the amount payable to or on behalf of
the Participant under any pension, savings, retirement, life insurance, or other employee or
director benefits arrangement of the Company, unless otherwise determined by the plan
sponsor.

	9.	 	GENERAL

If any provision of these Standard Terms and Conditions is declared to be illegal, invalid,
or otherwise unenforceable by a court of competent jurisdiction, such provision shall be
reformed, if possible, to the extent necessary to render it legal, valid, and enforceable,
or otherwise deleted, and the remainder of these Standard Terms and Conditions shall not be
affected except to the extent necessary to reform or delete such illegal, invalid, or
unenforceable provision.

The headings preceding the text of the sections hereof are inserted solely for convenience
of reference, and shall not constitute a part of these Standard Terms and Conditions, nor
shall they affect its meaning, construction, or effect.

These Standard Terms and Conditions shall inure to the benefit of and be binding upon the
parties hereto and their respective permitted heirs, beneficiaries, successors and assigns.

The Participant acknowledges that a copy of the Plan, the Plan prospectus, and Avnet’s most
recent annual report to its shareholders has been delivered to the Participant.

The Plan, the Term Sheet, and these Standard Terms and Conditions shall be governed,
construed, interpreted, and administered solely in accordance with the laws of the state of
New York, without regard to principles of conflicts of law.

All questions arising under the Plan, the Term Sheet, and these Standard Terms and
Conditions shall be decided by the Administrator in its total and absolute discretion. It
is expressly understood that the Administrator is authorized to administer, construe, and
make all determinations necessary or appropriate to the administration of the Plan, the Term
Sheet, and these Standard Terms and Conditions; all such determinations shall be binding
upon the Participant.

2

Exhibit 10.1 (c)

AVNET, INC.

TERM SHEET FOR 2010 STOCK COMPENSATION PLAN

PERFORMANCE STOCK UNIT AWARD

For 3-Year Performance Periods Commencing with FY201_ and Subsequent FYs

FOR GOOD AND VALUABLE CONSIDERATION, Avnet, Inc. (the “Company”), hereby grants to the Participant
named below an award of performance stock units (the “Performance Stock Units” or “PSUs”) covering
the three-year Performance Period defined in the Standard Terms and Conditions and the number of
shares of its common stock (the “Stock”) specified below, upon the terms and conditions set forth
in this Term Sheet, the Avnet, Inc. 2010 Stock Compensation Plan (the “Plan”) and the Standard
Terms and Conditions for Performance Stock Units (the “Standard Terms and Conditions”) attached to
this Term Sheet.

Name of Participant:

Grant Date:

Number of Share of Stock covered by PSUs:

Vesting Schedule:

The vesting conditions for the Performance Stock Units are set forth in the Standard Terms
and Conditions.

By accepting this Term Sheet, the Participant acknowledges that he or she has received and read,
and agrees that these Performance Stock Units shall be subject to, the terms of this Term Sheet,
the Plan, and the Standard Terms and Conditions.

	 	 	 
	AVNET, INC.

	 	

	
 
	 	Participant’s Printed Name

     

Participant Signature
	By:

	 	

	Title:

	 	Address (please print):

3

AVNET, INC.

2010 STOCK COMPENSATION PLAN

STANDARD TERMS AND CONDITIONS FOR

PERFORMANCE STOCK UNITS

FISCAL 201_ — FISCAL 201_ PERFORMANCE PERIOD

These Standard Terms and Conditions for Performance Stock Units (the “Standard Terms and
Conditions”) apply to any Performance Stock Units granted under the Avnet, Inc. 2010 Stock
Compensation Plan (the “Plan”) for the Fiscal 201       through Fiscal 201       Performance Period (as
defined below) that are identified as performance stock units and evidenced by a Term Sheet or an
action of the Administrator that refers to these Standard Terms and Conditions.

	1.	 	TERMS OF PERFORMANCE STOCK UNITS

Avnet, Inc. (“Avnet”) has granted to the Participant named in the attached Term Sheet
performance stock units (the “Performance Stock Units” or “PSUs”) covering the number of
            shares of its common stock (the “Stock”) set forth in the Term Sheet, subject to the
conditions set forth in the Term Sheet, these Standard Terms and Conditions, and the Plan.
For purposes of these Standard Terms and Conditions and the Term Sheet, the “Company” refers
to Avnet and its Subsidiaries.

	2.	 	VESTING AND PERFORMANCE

The PSUs shall vest based upon a 3-year cumulative performance cycle, beginning as of      
     , 201       and ending on              , 201       — Fiscal 201       through 201       — (the “Performance
Period”). The vesting of the Performance Stock Units is subject to (a) the Participant
remaining continuously employed by or in the service of the Company from the Grant Date
through the last day of the Performance Period and (b) Avnet achieving Relative Economic
Profit (“EP”) Improvement (as defined herein) equal to at least the Threshold level set
forth below. For purposes hereof:

	 	•	 	“Relative EP Improvement” means the cumulative increase in Avnet’s economic profit
during the Performance Period over its economic profit during the prior three-year
period (e.g., Fiscal 201       through Fiscal 20      ) compared to the cumulative increase
during the Performance Period in the economic profit of an index of peer companies
consisting of the corporations listed on Exhibit A hereto, adjusted for size, and
expressed as the percentage by which Avnet’s economic profit increase exceeds or is
exceeded by that of the index.

	 	•	 	“Economic profit” for a business means operating income after tax, less a capital
charge on the amount of capital invested in the business. For purposes hereof,
“operating income” excludes certain items as determined by the Administrator, such as
restructuring charges, asset writedowns, impairments, and financial impacts of
accounting, tax, and regulatory changes, etc.

The number of PSUs that will become vested (subject to satisfying the continuous employment
requirement described above) shall be determined in accordance with the following matrix:

	 	 	 	 	 
	3-Year Size Adjusted Cumulative Relative	 	Percentage of PSUs Vesting
	Economic Performance (EP) Improvement	 	 	 	 
	Maximum: =+5.0%

	 	 	200	%
	 

	 	 	 	 
	Target: 0.0%.

	 	 	100	%
	 

	 	 	 	 
	Below Threshold: = -5%

	 	 	0	%
	 

	 	 	 	 

If Avnet’s actual Relative EP Improvement is between two achievement levels set forth in the
table above, the percentage vesting shall be determined by interpolation. Notwithstanding
the foregoing or any other provision of these Standard Terms and Conditions, with respect to
the Performance Periods covering FY2008 through FY2010 and FY2009 through FY2011, the
vesting percentage shall be limited to 100%.

Following the end of the Performance Period and the collection of relevant data necessary to
determine the extent to which the performance goals set forth in this Paragraph 2 have been
satisfied, the Administrator will determine: (a) the amount of Relative EP Improvement that
was achieved by Avnet over the Performance Period; and (b) the percentage of the Performance
Stock Units that vested as of the last day of the Performance Period. The Administrator
shall make these determinations in its sole discretion; provided, however, that if the
Participant is a “covered employee” under Section 162(m) of the Internal Revenue Code of
1986, as amended (the “Code”), the level of achievement of Relative EP Improvement shall be
determined in a manner that satisfies the requirements under Section 162(m) of the Code for
performance-based compensation and shall be evidenced by written certification of the
Compensation Committee of Avnet’s Board of Directors. For the avoidance of doubt, except as
expressly provided otherwise in Paragraphs 4 through 6 herein below, any Performance Stock
Units that do not vest in accordance with the foregoing shall expire without consideration
on the last day of the Performance Period.

Upon the vesting of all or a portion of the PSUs, one share of Stock shall be issuable for
each Performance Stock Unit that vests (the “PSU Shares”). Thereafter, Avnet shall transfer
such PSU Shares to the Participant. Such transfer shall occur as soon as practicable after
the satisfaction of all required tax withholding obligations, securities law registration
and other requirements, and applicable stock exchange listing, and in any event no later
than the last day of the “applicable 21/2 month period,” as defined in Treas. Reg. §
1.409A-1(b)(4)(i)(A).

No fractional shares shall be issued with respect to vesting of Performance Stock Units.

The Participant shall not acquire or have any rights as a shareholder of Avnet by virtue of
these Standard Terms and Conditions (or the Award evidenced thereby) until the shares of
Stock issuable pursuant to this Award are actually issued and delivered to the Participant
in accordance with the terms of the Plan and these Standard Terms and Conditions.

	3.	 	TERMINATION OF EMPLOYMENT OR SERVICE

Except as provided below with respect to death, disability, Retirement, or Change in
Control, if the Participant ceases to be employed by or in the service of the Company for
any reason before the Performance Stock Units have fully vested pursuant to Paragraph 2, the
Participant shall immediately forfeit all of the Performance Stock Units without
consideration.

	4.	 	DEATH OR DISABILITY OF PARTICIPANT

If the Participant’s employment or service with the Company terminates by reason of the
Participant’s death or disability (as determined by the Administrator in its sole
discretion), the Participant shall vest in a pro-rata share of the PSUs equal to the number
of PSUs that would have become vested had the Participant remained continuously employed by
the Company through the end of the Performance Period (based on Avnet’s performance through
the end of the Performance Period), multiplied by a fraction, the numerator of which is the
number of full calendar quarters completed as of the date of death or disability, and the
denominator of which is 12. The number of PSU Shares payable and the timing of the transfer
of such PSU Shares shall be determined in accordance with Paragraph 2, above. All
non-vested PSUs shall be forfeited.

	5.	 	RETIREMENT

If the Participant’s employment or service with the Company terminates by reason of
Retirement (as defined herein), the Participant shall vest in a pro-rata share of the PSUs
equal to the number of PSUs that would have become vested had the Participant remained
continuously employed by the Company through the end of the Performance Period (based on
Avnet’s performance through the end of the Performance Period). For purposes hereof, a
cessation of employment will be treated as a “Retirement” if (and only if) (a) the cessation
of employment occurs after (I) the Participant has attained at least age 55 and been
credited with at least five years of service with the Company and (II) the combination of
the Participant’s age plus years of service is no less than 65; and (b) the Participant has
signed a non-competition agreement in a form acceptable to the Company, covering the longer
of two years or the period from such cessation of employment through the end of the
Performance Period. The number of PSU Shares payable and the timing of the transfer of such
PSU Shares shall be determined in accordance with Paragraph 2, above. All non-vested PSUs
shall be forfeited.

	6.	 	CHANGE IN CONTROL

In the event of a Change in Control, the Performance Stock Units shall become immediately
and fully vested and payable, and one share of Stock shall be issued for each Performance
Stock Unit no later than the last day of the “applicable 21/2 month period,” as defined in
Treas. Reg. § 1.409A-1(b)(4)(i)(A).

	7.	 	TAXES

The Participant acknowledges that the delivery of unrestricted shares of Stock following
vesting of a Performance Stock Unit will generally give rise to a withholding tax
obligation, and that the issuance of shares of Stock hereunder is conditioned on timely
satisfying such withholding obligation. The Participant shall make arrangements
satisfactory to the Company for satisfying such withholding obligations. The Administrator,
in its sole discretion, may allow the Participant to satisfy all or part of such tax
obligation through withholding of shares of Stock otherwise issuable to the Participant,
with the amount of the withholding to be credited based on the current Fair Market Value of
the Stock. No provision of the Plan, the Term Sheet, or these Standard Terms and Conditions
shall be construed to transfer to the Company or any of its affiliates any responsibility to
pay any income, employment, excise, or other taxes attributable to a Performance Stock Unit.

	8.	 	THE PLAN; DEFINED TERMS; ENTIRE AGREEMENT

In addition to these Standard Terms and Conditions, the Performance Stock Units shall be
subject to the terms of the Plan, which are incorporated into these Standard Terms and
Conditions by this reference. Capitalized terms not otherwise defined herein shall have the
meaning set forth in the Plan, and the rules of construction set forth in the Plan shall
also apply to these Standard Terms and Conditions.

The Term Sheet, these Standard Terms and Conditions, and the Plan constitute the entire
understanding between the Participant and the Company regarding the Performance Stock Units.
Any prior agreements, commitments or negotiations concerning the Performance Stock Units
are superseded.

	9.	 	RESTRICTIONS ON RESALES

The Company may impose such restrictions, conditions, and limitations as it determines
appropriate as to the timing and manner of any resales by the Participant or other
subsequent transfers by the Participant of any shares of Stock issued pursuant to the
Performance Stock Units, including (a) restrictions under an insider trading policy, (b)
restrictions designed to delay and/or coordinate the timing and manner of sales by the
Participant and other holders of awards granted under the Plan, and (c) restrictions as to
the use of a specified brokerage firm for such resales or other transfers.

	10.	 	NO ASSIGNMENT

Performance Stock Units granted under the Plan may not be sold, transferred, pledged,
assigned, exchanged, encumbered or otherwise alienated or hypothecated until the Performance
Stock Units have vested and the corresponding shares of Stock have been issued, except to
the limited extent permitted by the Plan and approved by the Administrator in its sole
discretion.

	11.	 	GENERAL

If any provision of these Standard Terms and Conditions is declared to be illegal, invalid,
or otherwise unenforceable by a court of competent jurisdiction, such provision shall be
reformed, if possible, to the extent necessary to render it legal, valid, and enforceable,
or otherwise deleted, and the remainder of these Standard Terms and Conditions shall not be
affected except to the extent necessary to reform or delete such illegal, invalid, or
unenforceable provision.

The headings preceding the text of the sections hereof are inserted solely for convenience
of reference, and shall not constitute a part of these Standard Terms and Conditions, nor
shall they affect its meaning, construction, or effect.

These Standard Terms and Conditions shall inure to the benefit of and be binding upon the
parties hereto and their respective permitted heirs, beneficiaries, successors, and assigns.

The Participant acknowledges that a copy of the Plan, the Plan prospectus, and Avnet’s most
recent annual report to its shareholders has been delivered to the Participant.

Nothing in the Plan, the Term Sheet, these Standard Terms and Conditions, or any other
instrument executed pursuant to the Plan shall confer upon the Participant any right to
continue in the Company’s employ or service or limit in any way the Company’s right to
terminate the Participant’s employment or service at any time and for any reason.

Neither this Award nor any shares of Stock issuable hereunder shall be included in
compensation for purposes of determining the amount payable to or on behalf of the
Participant under any pension, savings, retirement, life insurance, or other employee or
director benefits arrangement of the Company, unless otherwise determined by the plan
sponsor.

The Plan, the Term Sheet, and these Standard Terms and Conditions shall be governed,
construed, interpreted, and administered solely in accordance with the laws of the state of
New York, without regard to principles of conflicts of law.

All questions arising under the Plan, the Term Sheet, and these Standard Terms and
Conditions shall be decided by the Administrator in its total and absolute discretion. It
is expressly understood that the Administrator is authorized to administer, construe, and
make all determinations necessary or appropriate to the administration of the Plan, the Term
Sheet, and these Standard Terms and Conditions; all such determinations shall be binding
upon the Participant.

Exhibit 10.1 (d)

To:

	 	 	 
	From:

	 	Ray Sadowski
	Date:

	 	

	Re:

	 	Long-Term Incentive Plan – Restricted Stock Unit

Attached please find information related to the issuance of shares of Avnet, Inc. Common Stock
(“Shares”) that you may earn under the Avnet, Inc. 2010 Stock Compensation Plan (the “Plan”).

You are entitled to receive Shares in five (5) annual installments commencing in January   ,
provided that you are continuously employed by Avnet or one of its Subsidiaries through the
installment date. You will receive in each January a letter confirming the delivery of your award.

In most tax jurisdictions, you will have the obligation to pay income taxes on the value of these
Shares when are delivered to you in each January and not when they are awarded. In general, the
value of the Shares will be the number of Shares delivered times the fair market value per Share on
the January delivery date (the “FMV”). In the U.S., delivery of your Shares will be subject to
withholding for employment and income taxes. For participants residing in other countries, you
will be subject to the laws of the appropriate taxing jurisdiction, which in most cases results in
taxable income equal to the value of the shares received as noted above. Should you have any
questions concerning the taxability of these shares, please call the Tax Department at the
Corporate office in Phoenix.

4EX-10.1

2201 Waukegan Road

Suite 300

Bannockburn, Illinois 60015

December 31, 2010

Mr. Eric Tinch

	 	 	Dear Eric:

This letter (the “Amendment”) sets forth the terms of your resignation as an officer
of APAC Customer Services, Inc. (the “Company”). The Company and you entered into an Offer
Letter Agreement dated as of April 1, 2010 (“Offer Letter”). Any capitalized term not
defined in this Amendment has the meaning defined in the Offer Letter as applies.

1. Resignation from Employment. Effective December 31, 2010, at 5:00 PM CST (the
“Termination Date”), the Company and you mutually agree that your employment shall
terminate, and in connection with such termination, the Company accepts your resignation from your
positions as Senior Vice President, Human Resources of the Company and as an officer and director
of all other subsidiaries and affiliates of the Company on which you are serving and from any
fiduciary position in which you may be serving in connection with the Company’s employee benefit
plans or otherwise. The Termination Date is your “separation from service” date for purposes of
Section 409A of the Code.

2. Payments Upon Termination Date. Effective the Termination Date you will be
entitled to:

(a) your current Base Salary paid through the Termination Date to the extent not already paid;

(b) continued cash payments of your current Base Salary until June 30, 2011, in equal
installments in accordance with the Company’s payroll practices;

(c) provided that you (and if applicable your dependents) elect healthcare continuation
coverage under COBRA, for a period of six (6) months you will be required to pay only the premium
amount charged to active employees for such healthcare coverage and the Company will pay the
balance of your COBRA premiums, subject to immediate cessation of Company payment at any such time
during this period that you become eligible for health benefits in connection with subsequent
employment; and

(d) a lump sum cash payment of Seventeen Thousand Nine Hundred Dollars ($17,900).

The Company will withhold all applicable taxes from the amounts payable under this Section 2
to the extent required by law.

3. Compliance with Covenants; General Release. You agree that you are bound by and
will continue to comply with all of the covenants set forth in your Offer Letter, and set forth in
the Agreement Protecting Company Interests thereunder, in accordance with the terms thereof
(collectively, “Covenants”). Notwithstanding the above, Section 6 of your Agreement
Protecting Company Interests is modified such that the Non-Competition Period is reduced from a
“period of one year following my termination or separation (for any reason)” to a “period of six
months following my termination or separation (for any reason).”

4. Your entitlements under Section 2 above (except Section 2(a)) are subject to (i) your
continued compliance with the Covenants; (ii) your execution and delivery of a general release of
claims to the Company within 21 days after the Termination Date, that is not revoked, in accordance
with the form attached hereto as Exhibit A and (iii) your execution and delivery of an
acknowledgement to comply with policies and procedures in accordance with the form attached hereto
as Exhibit B.

5. Employment Security Agreement. Your Employment Security Agreement with the Company
terminates and ceases to be effective as of the Termination Date.

6. Non-Disparagement. Both during and after your employment with the Company, you
shall not disparage, portray in a negative light, or take any action that would be harmful to, or
lead to unfavorable publicity for, the Company or any of its current or former clients, suppliers,
officers, directors, employees, agents, consultants, contractors, owners, parents, subsidiaries, or
divisions, whether in public or private, including without limitation, in any and all interviews,
oral statements, written materials, electronically displayed materials, and materials or
information displayed on Internet-related sites. After termination of your employment with the
Company, the senior officers of the Company shall not, and the members of the Board will be asked
not to, disparage, portray in a negative light, or take any action that would be harmful to, or
lead to unfavorable publicity for you, whether in public or private, including without limitation,
in any and all interviews, oral statements, written materials, electronically displayed materials,
and materials or information displayed on Internet-related sites.

7. Counterparts. This Amendment may be executed in counterparts which shall be deemed
to be part of one original, and facsimile signatures shall be equivalent to original signatures.

If this Amendment is acceptable to you, please sign below and promptly return the fully signed
original to me.

Sincerely,

APAC Customer Services, Inc.

By:/s/ Kevin T. Keleghan

Kevin T. Keleghan

President and CEO

UNDERSTOOD AND AGREED:

/s/ Eric Tinch

Eric Tinch

Date: December 31, 2010

1

WAIVER AND RELEASE AGREEMENT

1. GENERAL RELEASE OF CLAIMS. IN CONSIDERATION FOR THE SEVERANCE PAY IN THE AMOUNT
SET FORTH IN SECTION 2 OF THAT CERTAIN AMENDMENT OF OFFER LETTER DATED DECEMBER 31, 2010
(“AMENDMENT”), LESS ALL APPLICABLE WITHHOLDING TAXES, TO BE PROVIDED TO ME UNDER THE TERMS
REFERENCED HEREIN, I, ERIC TINCH, ON BEHALF OF MYSELF AND MY HEIRS, EXECUTORS,
ADMINISTRATORS, ATTORNEYS AND ASSIGNS, HEREBY AGREE TO THE TERMS CONTAINED IN THIS WAIVER AND
RELEASE AGREEMENT AND WAIVE, RELEASE AND FOREVER DISCHARGE APAC CUSTOMER SERVICES, INC.
(“APAC”) AND APAC’S SUBSIDIARIES, DIVISIONS AND AFFILIATES, WHETHER DIRECT OR INDIRECT, ITS
AND THEIR JOINT VENTURES AND JOINT VENTURERS (HEREINAFTER COLLECTIVELY REFERRED TO AS THE
“EMPLOYER”) (INCLUDING ITS AND THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES,
SHAREHOLDERS, PARTNERS AND AGENTS, PAST, PRESENT, AND FUTURE), AND EACH OF ITS AND THEIR RESPECTIVE
SUCCESSORS AND ASSIGNS (HEREINAFTER COLLECTIVELY REFERRED TO AS RELEASEES), FROM ANY AND ALL KNOWN
OR UNKNOWN ACTIONS, CAUSES OF ACTION, CLAIMS OR LIABILITIES OF ANY KIND WHICH HAVE OR COULD BE
ASSERTED AGAINST THE RELEASEES ARISING OUT OF OR RELATED TO MY EMPLOYMENT WITH AND/OR SEPARATION
FROM EMPLOYMENT WITH THE EMPLOYER AND/OR ANY OF THE OF RELEASEES AND/OR ANY OTHER OCCURRENCE UP TO
AND INCLUDING THE DATE OF THIS WAIVER AND RELEASE AGREEMENT (“AGREEMENT”), INCLUDING BUT
NOT LIMITED TO CLAIMS THAT ANY OR ALL OF THE RELEASEES:

(a) discriminated or retaliated against me or others on the basis of race, color, sex
(including sexual harassment), national origin, ancestry, ethnic characteristics, disability,
perceived disability, history of disability, handicap, religion, creed, sexual orientation, marital
status, parental status, veteran status, source of income, entitlement to benefits, union
activities, whistleblower activities, age or any other claim or right I may have under the Age
Discrimination in Employment Act of 1967, as amended, or any other status protected by federal,
state, or local laws, constitutions, regulations, ordinances or executive orders; or

(b) failed to give proper notice of this employment termination under the Worker Adjustment
and Retraining Notification Act, or any similar state or local statute or ordinance; or

(c) violated any other federal, state, or local employment statute, such as the Employee
Retirement Income Security Act of 1974; the Family and Medical Leave Act of 1993; Title VII of the
Civil Rights Act of 1964; the Civil Rights Act of 1991; the Civil Rights Act of 1866; the Americans
With Disabilities Act of 1990 (“ADEA”); the Equal Pay Act of 1963, the Rehabilitation Act
of 1973; the Fair Labor Standards Act of 1938; the Occupational Safety and Health Act of 1970,
state wage payment and collection statutes; all as amended; and any other laws relating to
employment; or

(d) violated the Employer’s personnel policies, handbooks, any covenant of good faith and fair
dealing, or any contract of employment, express or implied, written or oral, between me and the
Employer; or

(e) violated public policy or common law, including claims for or based upon: personal injury,
invasion of privacy, retaliatory or wrongful discharge, negligent hiring, retention or supervision,
defamation, intentional or negligent infliction of emotional distress and/or mental anguish,
intentional interference with contract, impairment of economic opportunity, loss of business
opportunity, loss of wages, bonuses, commissions, expenses or benefits of any kind, fraud,
misrepresentation, negligence, or any other kind of tort, detrimental reliance, loss of consortium
to me or any member of my family, and/or promissory estoppel, or

(f) is in any way obligated for any reason to pay my damages, expenses, litigation costs
(including attorneys’ fees), bonuses, commissions, disability benefits, compensatory damages,
punitive damages, and/or interest, or to make any payments after my separation date in the nature
of a mortgage subsidy and related tax gross-up, related to any prior relocation,

but excluding the filing of any claims which I may make under state workers’ compensation or
unemployment laws, and/or claims which by law I cannot waive, including my rights to file a charge
with an administrative agency or participate in an agency investigation. However, I understand I
am waiving all rights to recover money in connection with any such charge or investigation. For
the purpose of giving a full and complete release, I understand and agree that this Agreement
includes all claims that I may have and that I do not now know or suspect to exist in my favor
against the Releasees, and that this Agreement extinguishes those claims.

2. Enforcement. If I pursue any claim that I have released and I do not prevail, I
agree (1) to pay the Releasee’s court costs, expenses and reasonable attorneys fees incurred in
defending against the claim or, at the Releasee’s option, (2) to repay the Releasees anything they
gave me for this Agreement, less $100. This enforcement provision does not apply to an ADEA claim.
This enforcement provision will not affect the validity of this Agreement and will not be deemed to
be a penalty or forfeiture.

3. Waiver As To Claims By Others. I further waive my right to any monetary recovery
should any other individual or federal, state, or local administrative agency pursue any claims on
my behalf arising out of or related to my employment with and/or separation from employment with
the Employer and/or any of the other Releasees.

4. Acknowledgment And Promise Not To Reapply. I acknowledge that I have not suffered
any on-the-job injury for which I have not already filed a claim. I also promise not to reapply
for or otherwise seek employment with the Employer.

5. Other Agreements Binding. I further acknowledge and agree that following my date
of termination of employment, I will remain bound by the Agreement Protecting Company Interests,
Restrictive Covenant Agreement or Non-Disclosure Agreement that I have executed, and that if I
breach the provisions of such Agreement Protecting Company Interests, Restrictive Covenant
Agreement or Non-Disclosure Agreement, then (a) the Employer will be entitled to apply for and
receive an injunction to restrain any such breach, (b) the Employer will not be obligated to
continue payment of the severance pay and availability of separation benefits, if any, to me, (c) I
will be obligated upon demand to repay to the Employer all but $100 of the severance pay and cost
of the separation benefits paid or made available, and (d) I will be obligated to pay to the
Employer its costs and expenses in enforcing the Agreement Protecting Company Interests,
Restrictive Covenant Agreement or Non-Disclosure Agreement that I executed (including court costs,
expenses and reasonable legal fees).

6. Time To Consider And Confer With Attorney. I acknowledge that I have been given at
least twenty-one (21) days to consider this Agreement thoroughly and that, by this Agreement, I
have been encouraged to consult with my personal attorney, if desired, before signing below. If I
sign and return this Agreement before the end of the 21-day period, I certify that my acceptance of
a shortened time period is knowing and voluntary, and that the Releasees did not — through fraud,
misrepresentation, a threat to withdraw or alter the offer before the 21-day period expires, or by
providing different terms to other employees who sign the release before such time expires —
improperly encourage me to sign.

7. Right To Revoke. I understand that I may revoke this Agreement within seven (7)
days after its signing and that any revocation must be made in writing and submitted within such
seven day period to the General Counsel, APAC Customer Services, Inc., 2201 Waukegan Road, Suite
300, Bannockburn, Illinois 60015. I further understand that if I revoke this Agreement, I will not
receive the severance pay. I understand that if I do not revoke the Agreement within the seven (7)
day period, it becomes irrevocable. Following the expiration of the revocation period and
provided that I have not revoked the executed Agreement, my entitlements under Section 4 of the
Amendment will be paid as set forth therein, less all applicable withholding taxes.

8. Consideration. I also understand that my agreement to enter into this Agreement
and the entitlements that I will receive under the Amendment in exchange for signing and not later
revoking this Agreement is in addition to anything of value to which I am already entitled.

9. Release Of Known And Unknown Claims. I FURTHER UNDERSTAND THAT THIS AGREEMENT
INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS TO DATE.

10. Cooperation After My Separation. I further agree that, subject to reimbursement
by the Employer of reasonable out-of-pocket costs and expenses (in compliance with APAC’s business
reimbursement policy), I will cooperate with the Releasees and their attorneys with respect to any
matter (including, but not limited to, litigation, investigation or governmental proceeding) that
relates to matters with which I was involved while I was employed by the Employer. My required
cooperation may include appearing from time to time at the Employer’s offices or the Releasees’
attorneys’ offices for conferences and interviews, and in general providing the Releasees and their
attorneys with the full benefit of my knowledge with respect to any such matter. I agree to
cooperate in a timely fashion and at times that are agreeable to all parties.

11. Confidentiality Of Agreement. I agree that the terms of this Agreement are
confidential and, to the extent not otherwise disclosed by the Company pursuant to applicable law,
that I will not disclose them to any person or entity, except to my immediate family, attorney,
financial advisor, or unless compelled to do so under subpoena or other judicial process.

12. Severability. I acknowledge and agree that if any provision of this Agreement is
found, held, or deemed by a court of competent jurisdiction to be void, unlawful or unenforceable
under any applicable statute or controlling law, the remainder of the Agreement will continue in
full force and effect. I further agree that if the General Release provided for in paragraph (1)
above is found, held, or deemed by a court of competent jurisdiction to be void, unlawful or
unenforceable under any applicable statute or controlling law, to execute, upon the request of any
of the Releasees, a General Release which is deemed valid and enforceable.

13. Binding Effect; Complete Agreement. This Agreement is binding on the parties,
their representatives, agents and assigns and as to me, my spouse, heirs, legatees, administrators,
and personal representatives. This Agreement is the exclusive and complete agreement between me
and the Employer relating to the subject matter of this Agreement. No amendment will be binding
unless in writing and signed by me and the Employer.

14. Governing Law. This Agreement is deemed made and entered into in the State of
Illinois, and in all respects will be interpreted, enforced and governed under applicable federal
law and in the event reference will be made to State law, the internal laws of the State of
Illinois. Any dispute under this Agreement will be adjudicated by a court of competent jurisdiction
in the State of Illinois.

15. Knowing And Voluntary Decision. I further acknowledge and agree that I have
carefully read and fully understand all of the provisions of this Agreement and that I knowingly,
voluntarily and in full settlement of all claims arising out of my employment or termination of
employment with the Employer, which existed in the past or currently exist, enter into this
Agreement by signing below.

	 	 	 
	EMPLOYEE	 	EMPLOYER
	(Signature of Employee)

(Date)
	 	APAC Customer Services, Inc.

Name:

	 	 	 

	 	 	Title:

	 	 	 

	 	 	(Date)

	 	 	 

2

Exhibit B

ACKNOWLEDGEMENT OF CONTINUING

REQUIREMENT TO COMPLY WITH POLICIES AND PROCEDURES

I understand and acknowledge that following my separation, retirement, termination or resignation
(collectively referred to as “separation”) from APAC Customer Services, Inc. (“APAC” or “Company”),
I have a continuing obligation to comply with all Company policies and procedures which survive my
separation.

Some examples of these continuing obligations include, but are not limited to my ongoing duty to
maintain confidentiality and comply with the Company’s Insider Trading Policy.  However, I
understand and acknowledge that it is my responsibility either to review all Company policies and
procedures before my separation from the Company or to request from the Company’s General Counsel
or Human Resources the identity of all continuing obligations. 

If I have any questions relating to any of my continuing compliance obligations or the appropriate
action to take in a situation, I will immediately contact the General Counsel, and I understand
that any failure to do so may lead to a violation of continuing obligations I possess and, thus,
potential legal consequences. 

      

Signature

      

Print Name:

      

Date:

3

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