Document:

Form of Change of Control Severance Plan

 Exhibit 10.13 
  
 SYNNEX INFORMATION TECHNOLOGIES, INC. 
  
 CHANGE OF CONTROL SEVERANCE PLAN 
  
 Effective as of August 19, 2003 
  
 SYNNEX Information Technologies, Inc. (including any “Successor Entity” as defined in Section 5, the “Company”) adopts this Change of
Control Severance Plan (this “Plan”) with the intent of assuring that it and its direct and indirect subsidiaries will have the benefit of continuity of management in the event of any actual or threatened change of control. Certain
capitalized terms used in this Plan are defined in Section 1 below. 
  
 1. Definitions of Terms. The following terms referred to in this Plan shall have the following meanings: 
  
 (a) Average Compensation. “Average Compensation” means the average of a Participant’s gross annual compensation, exclusive of any
income relating to Company stock, as reported on the Participant’s W-2 for the three most recent years ending on or before the Date of Termination (excluding any such year in which the Participant was not employed, and annualizing compensation
for any such year in which Participant was employed a partial year). “Average Monthly Compensation” means one-twelfth (1/12) of Average Compensation. 
  

(b) Cause. “Cause” means (i) commission of a felony, an act involving moral turpitude, or an act constituting common law fraud, and
which has a material adverse effect on the business or affairs of the Company or its affiliates or stockholders; (ii) intentional or willful misconduct or refusal to follow the lawful instructions of the Board of Directors of the Company (the
“Board”); or (iii) intentional breach of Company confidential information obligations which has an adverse effect on the Company or its affiliates or stockholders. For these purposes, no act or failure to act shall be considered
“intentional or willful” unless it is done, or omitted to be done, in bad faith without a reasonable belief that the action or omission is in the best interests of the Company. 
  
 (c) Change of Control. “Change of Control” means the occurrence of any of the following events: 

 
 (i) A change in the composition of the Board occurs, as a result of which
fewer than one-half of the incumbent directors are directors who either: 
  
 (A) Had been directors of the Company on the “look-back date” (as defined below) (the “original directors”); or 
  
 (B) Were elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the
aggregate of the original directors who were still in office at the time of the election or nomination and the directors whose election or nomination was previously so approved (the “continuing directors”); or 
  
 SYNNEX INFORMATION TECHNOLOGIES,
INC. 
 CHANGE OF CONTROL SEVERANCE PLAN 

 

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 (ii) Any “person” (as defined below) who by the acquisition or aggregation of securities, is or
becomes the “beneficial owner” (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended), directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the
Company’s then outstanding securities ordinarily (and apart from rights accruing under special circumstances) having the right to vote at elections of directors (the “Base Capital Stock”); except that any change in the relative
beneficial ownership of the Company’s securities by any person resulting solely from a reduction in the aggregate number of outstanding shares of Base Capital Stock, and any decrease thereafter in such person’s ownership of securities,
shall be disregarded until such person increases in any manner, directly or indirectly, such person’s beneficial ownership of any securities of the Company; or 
  
 (iii) The consummation of a merger or consolidation of the Company with or into another entity or any other corporate
reorganization, if persons who were not stockholders of the Company immediately prior to such merger, consolidation or other reorganization own immediately after such merger, consolidation or other reorganization 50% or more of the voting power of
the outstanding securities of each of (A) the continuing or surviving entity and (B) any direct or indirect parent corporation of such continuing or surviving entity; or 
  
 (iv) The sale, transfer or other disposition of all or substantially all of the Company’s assets. 
  
 For purposes of subsection (c)(i) above, the term “look-back” date
shall mean the later of (1) August 19, 2003 or (2) the date 24 months prior to the date of the event that may constitute a Change of Control. 
  
 For purposes of subsection (c)(ii) above, the term “person” shall have the same meaning as when used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended, but shall exclude (1) a trustee or other fiduciary holding securities under an employee benefit plan maintained by the Company or a parent or subsidiary of the Company and (2) a corporation owned directly
or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of the common stock of the Company. 
  
 Any other provision of this Section 1(c) notwithstanding, a transaction shall not constitute a Change of Control if its sole purpose is to change the
state of the Company’s incorporation or to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction, and a Change of Control
shall not be deemed to occur if the Company files a registration statement with the Securities and Exchange Commission for the initial offering of Company common stock to the public. 
  
 (d) Involuntary Termination. “Involuntary Termination” means: 
  
 (i) without such Participant’s express written consent, a reduction of
the Participant’s title, authority, duties, position or responsibilities relative to the Participant’s title, authority, duties, position or responsibilities in effect immediately prior to such reduction; 
  
 SYNNEX INFORMATION TECHNOLOGIES,
INC. 
 CHANGE OF CONTROL SEVERANCE PLAN 

 

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 (ii) without such Participant’s express written consent, a reduction by the Company of the
Participant’s base salary or bonus opportunity as in effect immediately prior to such reduction; 
  
 (iii) without such Participant’s express written consent, the relocation of the Participant’s principal place of employment to a facility or a
location more than fifty (50) miles from his or her current location; 
  
 (iv) without such Participant’s express written consent, any purported termination of the Participant by the Company which is not effected for Cause or by reason of death or disability; or 
  
 (v) the failure of the Company to obtain the assumption of this Plan by any
successors contemplated in Section 5 below. 
  
 (e) Termination
Date. “Termination Date” means the effective date of any notice of termination of the Participant’s employment. 
  
 2. Eligibility. Those employees of the Company who have the title of Executive Vice President, Senior Vice President, Chief Information Officer,
Vice President or Associate Vice President and whose principal place of employment is in the United States (each, a “Participant”) shall be eligible for benefits, subject to the terms and conditions of the Plan, until the date he or she
ceases to be employed in such position by the Company; provided, that a Participant who ceases to be employed by the Company under circumstances giving rise to benefits under the Plan shall continue to be treated as a Participant with respect to
such benefits until they have been paid or provided in full. 
  
 3. At-Will Employment. Each Participant’s employment is and shall continue to be at-will, as defined under applicable law. 
  
 4. Severance Benefits. 
  
 (a) Involuntary Termination in Connection with a Change of Control. If a Participant’s employment with the Company terminates as a result of an
Involuntary Termination at any time within twelve (12) months after a Change of Control or within two (2) months on or before a Change of Control, and such Participant signs and does not revoke a standard release of claims with the Company in a form
acceptable to the Company, then in lieu of any other severance benefits to which the Participant may be entitled under any Company plan or policy, such Participant shall be entitled to the following severance benefits: 
  
 (i) in the case of a Participant who is an Executive Vice President of the
Company (each, a “Level 1 Participant”), salary continuation for eighteen (18) months at such Participant’s rate of Average Monthly Compensation, plus an additional month for each year of service completed by the Participant in excess
of eighteen (18) years, subject to a maximum of twenty-four (24) months of Average Monthly Compensation, less applicable withholding; 
  
 (ii) in the case of a Participant who is a Senior Vice President or Chief Information Officer of the Company (each, a “Level 2 Participant”),
salary continuation for 
  
 SYNNEX INFORMATION
TECHNOLOGIES, INC. 
 CHANGE OF CONTROL SEVERANCE
PLAN 
  

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 twelve (12) months at such Participant’s rate of Average Monthly Compensation, plus an additional month for each
year of service completed by the Participant in excess of twelve (12) years, subject to a maximum of eighteen (18) months of Average Monthly Compensation, less applicable withholding; 
  
 (iii) in the case of a Participant who is a Vice President or Associate Vice President of the Company (each, a “Level 3
Participant”), salary continuation for three (3) months at such Participant’s rate of Average Monthly Compensation, plus an additional month for each year of service completed by the Participant in excess of three (3) years, subject to a
maximum of twelve (12) months of Average Monthly Compensation, less applicable withholding; and 
  
 (iv) reimbursement by the Company of the group health continuation coverage premiums for the Participant and the Participant’s eligible dependents
under Title X of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended or comparable provisions of state law (“COBRA”) for (A) twenty-four (24) months from the Termination Date in the case of a Level 1 Participant
(provided that reimbursement after eighteen (18) months shall be based upon the most recent premium rate then in effect, if COBRA is not available after eighteen (18) months), (B) twelve (12) months from the Termination Date in the case of a Level 2
Participant or (C) six (6) months from the Termination Date in the case of a Level 3 Participant; provided, however, that the Company’s obligations shall terminate when the Participant becomes covered under another group health plan, and that
each Participant will be solely responsible for electing such COBRA coverage within the required time period. 
  
 (b) Accrued Wages and Vacation; Expenses. Without regard to the reason for, or the timing of, a Participant’s termination of employment: (i)
the Company shall pay such Participant any unpaid wages due for periods prior to the Termination Date; (ii) the Company shall pay such Participant all of the Participant’s accrued and unused vacation through the Termination Date; and (iii)
following submission of proper expense reports by the Participant, the Company shall reimburse such Participant for all expenses reasonably and necessarily incurred by the Participant in connection with the business of the Company prior to the
Termination Date. These payments shall be made promptly upon termination and within the period of time mandated by law. 
  
 5. Successors. 
  
 (a) Company’s Successors. Any successor to the Company (whether direct or indirect and whether by purchase, lease, merger, consolidation,
liquidation or otherwise) to all or substantially all of the Company’s business and/or assets shall assume the Company’s obligations under this Plan and agree expressly to perform the Company’s obligations under this Plan in the same
manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession. For all purposes under this Plan, the term “Company” shall include any successor to the Company’s business
and/or assets which executes and delivers the assumption agreement described in this subsection (a) or which becomes bound by the terms of this Plan by operation of law. 
  
 SYNNEX INFORMATION TECHNOLOGIES, INC. 
 CHANGE OF CONTROL SEVERANCE PLAN 
  

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 (b) Participant’s Successors. Without the written consent of the Company, a Participant shall
not assign or transfer this Plan or any right or obligation under this Plan to any other person or entity. Notwithstanding the foregoing, the terms of this Plan and all rights of a Participant hereunder shall inure to the benefit of, and be
enforceable by, a Participant’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 
  
 6. Notices. 
  
 (a) General. Notices and all other communications contemplated by this Plan shall be in writing and shall be deemed to have been duly given when
personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. In the case of a Participant, mailed notices shall be addressed to him or her at the home address which he or she most recently
communicated to the Company in writing. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Secretary. 
  
 (b) Notice of Termination. Any termination by the Company for Cause or
by a Participant as a result of an Involuntary Termination shall be communicated by a notice of termination given in accordance with this Section 6. Such notice shall indicate the specific termination provision in this Plan relied upon, shall set
forth in reasonable detail the facts and circumstances claimed to provide a basis for termination under the provision so indicated, and shall specify the Termination Date (which shall be not more than thirty (30) days after the giving of such
notice). 
  
 7. Miscellaneous Provisions. 
  
 (a) Payment Obligations Absolute. Upon termination of employment
described in Section 4, the Company’s obligations to pay the severance benefits described in Section 4 shall be absolute and unconditional and shall not be affected by any circumstances, including, without limitation, any set-off, counterclaim,
recoupment, defense or other right which the Company may have against any Participant. In no event shall a Participant be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to a Participant under
any of the provisions of the Plan. 
  
 (b) Limited Effect.
Nothing herein or in any Plan Agreement shall be construed as giving any Participant a right of continued employment or as limiting the Employer’s right to terminate a Participant’s employment, subject, in the case of any such termination
described in Section 4, to the payment of the benefits described in Section 4. 
  
 (c) Amendment and Termination. The Board may amend or terminate the Plan at any time prior to a Change of Control by resolution adopted by at least two-thirds of the Board; provided, however, that no such
amendment or termination shall reduce the benefits previously earned by a Participant without his or her express written consent. 
  
 (d) Withholding. All payments and benefits hereunder shall be subject to reduction for applicable tax withholdings. 
  
 SYNNEX INFORMATION TECHNOLOGIES,
INC. 
 CHANGE OF CONTROL SEVERANCE PLAN 

 

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 (e) Effective Date. The “Effective Date” of the Plan shall be August 19, 2003.

  
 (f) Choice of Law. The validity, interpretation,
construction and performance of this Plan shall be governed by the internal substantive laws, but not the conflicts of law rules, of the State of California. 
  
 (g) Severability. The invalidity or unenforceability of any provision or provisions of this Plan shall not affect the validity or enforceability of
any other provision hereof, which shall remain in full force and effect. 
  
 * * * 
  
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blank.] 
  
 SYNNEX INFORMATION
TECHNOLOGIES, INC. 
 CHANGE OF CONTROL SEVERANCE
PLAN 
  

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	SYNNEX INFORMATION TECHNOLOGIES, INC.
		
	By:	 	 
	 	

	 Title:
	 	 
	 	

  
 SYNNEX
INFORMATION TECHNOLOGIES, INC. 
 CHANGE OF CONTROL
SEVERANCE PLAN 
  

 7<PAGE>

                                                                     Exhibit 4.5

                                                                  EXECUTION COPY

                       AMENDMENT NO. 4 TO RIGHTS AGREEMENT

     This Amendment No. 4 to Rights Agreement (this "Amendment"), dated as of
June 17, 2003, amends the Rights Agreement dated as of May 16, 2000 as amended
on August 4, 2002, August 5, 2002 and March 12, 2003 (the "Rights Agreement"),
between Nobel Learning Communities, Inc., a Delaware corporation (the
"Company"), and Stocktrans, Inc., as Rights Agent (the "Rights Agent"). Terms
defined in the Rights Agreement and not otherwise defined herein are used herein
as so defined.

                              W I T N E S S E T H:

     WHEREAS, on May 16, 2000, the Board of Directors of the Company authorized
the issuance of Rights to purchase, on the terms and subject to the provisions
of the Rights Agreement, shares of the Company's Preferred Stock;

     WHEREAS, on May 16, 2000, the Board of Directors of the Company authorized
and declared a dividend distribution of one Right for every share of Common
Stock of the Company outstanding on the Record Date and authorized the issuance
of one Right (subject to certain adjustments) for each share of Common Stock of
the Company issued between the Record Date and the Distribution Date;

     WHEREAS, on August 4, 2002, the Company and the Rights Agent entered into
Amendment No. 1 to the Rights Agreement;

     WHEREAS, on August 5, 2002, the Company and the Rights Agent entered into
Amendment No. 2 to the Rights Agreement;

     WHEREAS, on March 12, 2003, the Company and the Rights Agent entered into
Amendment No. 3 to the Rights Agreement;

     WHEREAS, the Distribution Date has not occurred; and

     WHEREAS, pursuant to Section 27 of the Rights Agreement, the Board of
Directors of the Company has approved an amendment of certain provisions of the
Rights Agreement as set forth below;

     NOW, THEREFORE, the Rights Agreement is hereby amended as follows:

1.   Amendment to the second WHEREAS clause. The second WHEREAS clause is
     amended by restating it as follows:

          "WHEREAS, all references to the Common Stock herein shall also
          reference the Series A Preferred Stock, par value $.001 per share,
          Series C Preferred Stock, par value $.001 per share, Series D
          Preferred Stock, par value $.001 per share, and Series E Preferred
          Stock, par value $.001 per share ("Series E Preferred Stock")(the
          "Designated Preferred"), of the Company on an as-converted basis."

<PAGE>

2.   Amendment to definition of "Acquiring Person". Section 1(a)(ii) is amended
     by inserting the following paragraph at the end of such Section 1(a)(ii):

          "Furthermore, Camden shall not be considered an Acquiring Person as a
          result of (A) the approval, execution and delivery of the Series E
          Stock Purchase Agreement including without limitation (i) the issuance
          of the Series E Preferred Stock, (ii) the conversion of the Series E
          Preferred Stock, (iii) the exercise of pre-emptive rights described in
          Section 4.6 of the Series E Preferred Stock Purchase Agreement, (iv)
          the issuance of and conversion of any additional shares of Series E
          Preferred Stock received as a dividend pursuant to the Certificate of
          Designation of the Series E Preferred; (B) being the Beneficial Owner
          of shares of Common Stock held by Camden on the date hereof; and (C)
          the issuance of options to purchase Common Stock or the exercise of
          such options issued to the board representative of the Series E
          Preferred Stock.

3.   Additional Definitions. Section 1 is hereby amended to include the
     following definitions:

(kk) "Certificate of Designation of the Series E Preferred" shall mean the
     Certificate of Designation, Preferences, and Rights of Series E Convertible
     Preferred Stock of Nobel Learning Communities, Inc. as filed with the
     Secretary of the State of the State of Delaware on the date hereof.

(ll) "Series E Stock Purchase Agreement" shall mean the Series E Convertible
     Preferred Stock Purchase Agreement dated as the date hereof by and among
     the Company and the Investors, as defined therein.

(mm) Camden shall mean Camden Partners Strategic Fund II-A, L.P., Camden
     Partners Strategic Fund II-B, L.P. Camden Partners Holdings, LLC, Camden
     Partners, Inc., Camden Partners Equity Managers I, LLC, Camden Partners
     Strategic II, LLC, Camden Partners Hedge Fund I, LLC and any of their
     Affiliates, Associates, successors and assigns to all or a substantial part
     of their respective businesses of each of the foregoing and each of their
     respective partners, stockholders, members, officers and directors.

4.   Effectiveness. This Amendment shall be deemed effective as of the date
     first written above, as if executed on such date. Except as amended hereby,
     the Rights Agreement shall remain in full force and effect and shall be
     otherwise unaffected hereby.

5.   Miscellaneous. This Amendment shall be deemed to be a contract made under
     the laws of Delaware and for all purposes shall be governed by and
     construed in accordance with the laws of such state applicable to contracts
     to be made and performed entirely within such state without giving effect
     to the principles of conflict of laws thereof. This Amendment may be
     executed in any number of counterparts, each of such counterparts shall for
     all purposes be deemed to be an original, and all such counterparts shall
     together constitute but one and the same instrument. If any provision,
     covenant or restriction of this Agreement is held by a court of competent
     jurisdiction or other authority to be invalid, illegal or unenforceable,
     the remainder of the terms, provisions, covenants and

                                       2

<PAGE>

     restrictions of this Amendment shall remain in full force and effect and
     shall in no way be affected, impaired or invalidated.

                         [SIGNATURES ON FOLLOWING PAGE]

                                       3

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 4 to
the Rights Agreement to be duly executed as of the day and year first above
written.

                                        NOBEL LEARNING COMMUNITIES, INC.

                                        By: /s/ John R. Frock
                                            ------------------------------------
                                            Name: John R. Frock
                                            Title: Vice Chairman

                                        Attest:

                                        By: /s/ Yvonne DeAngelo
                                            ------------------------------------

                                        STOCKTRANS, INC.

                                        By: /s/ Gina Hardin
                                            ------------------------------------
                                            Name: Gina Hardin
                                            Title: Vice President

                                        Attest:

                                        By: /s/ Robert J. Winterle
                                            ------------------------------------
                                            Name: Robert J. Winterle
                                            Title: Assistant Corporate Secretary

                                       4

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