Document:

EXHIBIT 10.16

<PAGE>

                                 POOL SUPPLEMENT
                             CHARTER ONE BANK, N.A.

         This Pool Supplement (the "SUPPLEMENT") is entered into pursuant to and
forms a part of each of the Note Purchase Agreements (the "AGREEMENTS") set
forth on SCHEDULE 1 attached hereto, each as amended or supplemented from the
date of execution of the Agreement through the date of this Supplement, by and
between The First Marblehead Corporation ("FMC") and Charter One Bank, N.A. (the
"PROGRAM LENDER"). This Supplement is dated as of February 23, 2005. Capitalized
terms used in this Supplement without definitions have the meanings set forth in
the Agreements.

         ARTICLE 1:  PURCHASE AND SALE.

         In consideration of the Minimum Purchase Price set forth in SCHEDULE 1
attached hereto, the Program Lender hereby transfers, sells, sets over and
assigns to The National Collegiate Funding LLC (the "DEPOSITOR"), upon the terms
and conditions set forth in the Agreements (which are incorporated herein by
reference with the same force and effect as if set forth in full herein), each
student loan set forth on attached SCHEDULE 2 (the "TRANSFERRED LOANS") along
with all of the Program Lender's rights under the Guaranty Agreements relating
to the Transferred Loans. The Depositor in turn will sell the Transferred Loans
to The National Collegiate Student Loan Trust 2005-1 (the "Trust"). The Program
Lender hereby transfers and delivers to the Depositor each Note evidencing such
Transferred Loan and all Origination Records relating thereto, in accordance
with the terms of the Agreements. The Depositor hereby purchases said Notes on
said terms and conditions.

         ARTICLE 2:  PRICE.

         The amounts paid pursuant to this Supplement are the sum of the amounts
set forth on SCHEDULE 1 attached hereto.

         ARTICLE 3:  REPRESENTATIONS AND WARRANTIES.

         3.01. BY PROGRAM LENDER.

         The Program Lender repeats the representations and warranties contained
in Section 5.02 of the Agreements for the benefit of each of the Depositor and
the Trust and confirms the same are true and correct as of the date hereof with
respect to the Agreements and to this Supplement.

         3.02. BY DEPOSITOR.

         The Depositor hereby represents and warrants to the Program Lender that
at the date of execution and delivery of this Supplement by the Depositor:

         (a) The Depositor is duly organized and validly existing as a limited
liability company under the laws of the State of Delaware with the due power and
authority to own its properties and to conduct its business as such properties
are currently owned and such business is presently conducted, and had at all
relevant times, and has, the power, authority and legal right to acquire and own
the Transferred Loans.

<PAGE>

         (b) The Depositor is duly qualified to do business and has obtained all
necessary licenses and approvals in all jurisdictions in which the ownership or
lease of property or the conduct of its business shall require such
qualifications.

         (c) The Depositor has the power and authority to execute and deliver
this Supplement and to carry out its respective terms; the Depositor has the
power and authority to purchase the Transferred Loans and rights relating
thereto as provided herein from the Program Lender, and the Depositor has duly
authorized such purchase from the Program Lender by all necessary action; and
the execution, delivery and performance of this Supplement has been duly
authorized by the Depositor by all necessary action on the part of the
Depositor.

         (d) This Supplement, together with the Agreements of which this
Supplement forms a part, constitutes a legal, valid and binding obligation of
the Depositor, enforceable in accordance with its terms.

         (e) The consummation of the transactions contemplated by the Agreements
and this Supplement and the fulfillment of the terms hereof do not conflict
with, result in any breach of any of the terms and provisions of, or constitute
(with or without notice or lapse of time) a default under, the governing
instruments of the Depositor or any indenture, agreement or other instrument to
which the Depositor is a party or by which it is bound; or result in the
creation or imposition of any lien upon any of its properties pursuant to the
terms of any such indenture, agreement or other instrument; or violate any law
or any order, rule or regulation applicable to the Depositor of any court or of
any federal or state regulatory body, administrative agency or other
governmental instrumentality having jurisdiction over the Depositor or its
properties.

         (f) There are no proceedings or investigations pending, or threatened,
before any court, regulatory body, administrative agency or other governmental
instrumentality having jurisdiction over the Depositor or its properties: (i)
asserting the invalidity of the Agreements or this Supplement, (ii) seeking to
prevent the consummation of any of the transactions contemplated by the
Agreements or this Supplement, or (iii) seeking any determination or ruling that
is likely to materially or adversely affect the performance by the Depositor of
its obligations under, or the validity or enforceability of the Agreements or
this Supplement.

         ARTICLE 4:  CROSS RECEIPT.

         The Program Lender hereby acknowledges receipt of the Minimum Purchase
Price. The Depositor hereby acknowledges receipt of the Transferred Loans
included in the Pool.

         ARTICLE 5:  ASSIGNMENT OF ORIGINATION, GUARANTY AND SERVICING RIGHTS.

         The Program Lender hereby assigns and sets over to the Depositor any
claims it may now or hereafter have under the Guaranty Agreements, the
Origination Agreements and the Servicing Agreements to the extent the same
relate to the Transferred Loans described in SCHEDULE 2, other than any right to
obtain servicing after the date hereof. It is the intent of this provision to
vest in the Depositor any claim of the Program Lender relating to defects in
origination, guaranty or servicing of the loans purchased hereunder in order to
permit the Depositor to assert such claims directly and obviate any need to make
the same claims against the Program Lender under this Supplement.

                                       2
<PAGE>

         IN WITNESS WHEREOF, the parties have caused this Supplement to be
executed as of the date set forth above.

                                        THE FIRST MARBLEHEAD CORPORATION

                                        By:  /s/ John A. Hupalo
                                           -------------------------------------
                                             Name: John A. Hupalo
                                             Title: Executive Vice President

                                        CHARTER ONE BANK, N.A.

                                        By:   /s/ Michael McFarlane
                                           -------------------------------------
                                             Name: Michael McFarlane
                                             Title: Senior Vice President

                                        THE NATIONAL COLLEGIATE FUNDING LLC

                                        By:      GATE Holdings, Inc., Member

                                                 By:  /s/ Stephen Anbinder
                                                    ----------------------------
                                                     Name: Stephen Anbinder
                                                     Title: President

<PAGE>

                                   SCHEDULE 1

                                      [**]

                       [Confidential Treatment Requested]

<PAGE>

                                   SCHEDULE 2

                      [On file with the Indenture Trustee]<PAGE>
                                                                    EXHIBIT 10.6

                                  INGRAM MICRO

                      SUPPLEMENTAL INVESTMENT SAVINGS PLAN
<PAGE>
                                                                               .
                                                                               .
                                                                               .
                                TABLE OF CONTENTS

<TABLE>
<S>                                                                           <C>
INTRODUCTION...................................................................1
  1.01  ESTABLISHMENT AND NAME OF PLAN.........................................1
  1.02  INTENT AND STATUS OF PLAN..............................................1
  1.03  PRIOR PLAN BENEFITS....................................................1

DEFINITIONS....................................................................2

ELIGIBILITY AND PARTICIPATION..................................................5

  3.01  ELIGIBILITY............................................................5
  3.02  PARTICIPATION..........................................................5
  3.03  TERMINATION OF PARTICIPATION FOR PURPOSES OF MAKING DEFERRALS..........5

DEFERRED COMPENSATION ACCOUNTS.................................................6

  4.01  DEFERRED COMPENSATION ACCOUNT..........................................6
  4.02  ELECTIVE DEFERRAL AMOUNTS..............................................6
  4.03  MATCHING EMPLOYER AMOUNTS..............................................8
  4.04  DEEMED INVESTMENT AMOUNTS CREDITED TO DEFERRED COMPENSATION ACCOUNTS...9

  4.05  ALLOCATION OF ACCRUED EARNINGS AND LOSSES OF DEEMED INVESTMENTS........9

DISTRIBUTION OF DEFERRED COMPENSATION BENEFITS................................10

  5.01  IN GENERAL............................................................10
  5.03  HARDSHIP DISTRIBUTIONS................................................10
  5.04  VESTING...............................................................11
  5.05  AMOUNT AND METHOD OF DISTRIBUTION OF BENEFITS.........................12
  5.06  COMMITTEE DECISION....................................................13
  5.07  PAYMENTS AFTER PARTICIPANT'S DEATH....................................14
  5.08  DESIGNATION OF BENEFICIARIES..........................................14
  5.09  LOANS.................................................................14

FINANCING AND UNFUNDED STATUS.................................................15

  6.01  COSTS BORNE BY THE PARTICIPATING COMPANIES............................15
  6.02  SOURCE OF BENEFIT PAYMENTS AND MEDIUM OF FINANCING THE PLAN...........15
  6.03  UNFUNDED STATUS.......................................................15

FORFEITURE....................................................................16

  7.01  FORFEITURES...........................................................16
  7.02  CERTAIN FORFEITURE CONDITIONS.........................................16
  7.03  TREATMENT OF FORFEITURES..............................................16

ADMINISTRATION................................................................17

  8.01  GENERAL ADMINISTRATION................................................17
  8.02  COMMITTEE PROCEDURES..................................................17
  8.03  FACILITY OF PAYMENT...................................................17
  8.04  INDEMNIFICATION OF COMMITTEE MEMBERS..................................17

AMENDMENT AND TERMINATION OF PLAN.............................................19

  9.01  AMENDMENT AND TERMINATION.............................................19

GENERAL PROVISIONS............................................................20

  10.01 LIMITATION OF RIGHTS..................................................20
  10.02 NO ASSIGNMENT OR ALIENATION OF BENEFITS...............................20
  10.03 SUCCESSORS............................................................20
  10.04 GOVERNING LAW.........................................................21
</TABLE>
<PAGE>
                                    ARTICLE 1
                                    CHAPTER 1
                                  INTRODUCTION

1.01  ESTABLISHMENT AND NAME OF PLAN

      Effective November 6, 1996, Ingram Micro Inc. established an unfunded,
      deferred compensation plan primarily for the purpose of providing deferred
      compensation for a select group of management or highly compensated
      employees of the Participating Companies, entitled the "Ingram Micro Inc.
      Supplemental Executive Deferred compensation Plan". Except as otherwise
      specifically stated, the plan is hereby, amended, restated and re-named
      the Ingram Micro Supplemental Investment Savings Plan generally effective
      January 1, 1999.

1.02  INTENT AND STATUS OF PLAN

      The Plan is intended to be an unfunded plan maintained by the Corporation
      with the Participating Companies primarily for the purpose of providing
      deferred compensation for a select group of management or highly
      compensated employees (and intended to be within the exemptions therefore
      in, without limitation, Sections 201(2), 301(a)(3), 401(a)(1) and
      402(1)(b)(6) o ERISA and section 220.104-23 of the Labor Regulations). The
      Plan is intended to be "unfunded"" for purposes of both ERISA and the
      Code. The Plan is not intended to be qualified as a qualified plan under
      Section 401(a) of the Code; rather, the Plan is intended to be a
      "nonqualified" plan.

1.03  PRIOR PLAN BENEFITS

      Notwithstanding anything in the Plan to the contrary, this plan is
      intended to include the Benefits and liabilities that Ingram Micro Inc.
      had under the Ingram Industries, Inc. Supplemental Executive Deferred
      Compensation Plan (the "Prior Plan"). As a result, any of the remaining
      benefits earned by employees of Ingram Micro Inc. under the Prior Plan
      prior to the Effective Date shall become benefits under this plan and
      shall be provided only by this plan.

                                       1
<PAGE>
                                    ARTICLE 2
                                    CHAPTER 2
                                   DEFINITIONS

      Each following word, term and phrase shall have the following respective
      meanings whenever such word, term or phrase is capitalized and used in any
      Article of this Plan unless the context clearly indicates otherwise:

2.01  "ASSOCIATE" has the same meaning as such term is defined in the Savings
      Plan.

2.02  "BOARD" means the board of Directors of the Corporation.

2.03  "COMMITTEE" means the Committee appointed by the Board to administer the
      Plan pursuant to Article 8 hereof. If no such Committee has been
      appointed, then the term Committee shall mean the Corporation.

2.04  "CODE" means the Internal Revenue Code of 1986, as amended from time to
      time.

2.05  "COMPENSATION" means the same as "Compensation" as defined under the
      amended, restated and renamed Ingram Micro 401(k) Investment Savings Plan,
      effective January 1, 1999, (as defined in Section 2.13 of the Savings
      Plan), but without the Code section 401(a)(17) dollar limit.

2.06  "COMPENSATION DEFERRAL AGREEMENT" means the written agreement to defer
      Compensation contemplated by articles 3 and 4 hereof executed by the
      Participant and the Participating Company.

2.07  "COMPENSATION DEFERRAL DATE" means the Effective Date in the initial plan
      year, and January 1, in each calendar year thereafter. Notwithstanding the
      foregoing, the Committee may declare a special Compensation Deferral date
      each year, so that a participant may elect prior to such special
      Compensation Deferral Date to make a supplemental deferral as described in
      Section 4.02(a)(iv) hereof.

2.08  "COMPENSATION DEFERRAL PERIOD" means the period beginning on the Effective
      date and ending on December 31 (the calendar year). Notwithstanding the
      foregoing, there shall be a special Compensation Deferral Period for
      purposes of supplemental deferrals, as described in Section 4.02(a)(iv),
      which shall begin on the special Compensation Deferral Date declared by
      the Committee and shall end on the following December 31.

2.10  "CORPORATION" means Ingram Micro Inc., a Delaware Corporation and any
      business organization or corporation into which Ingram Micro Inc. may
      be merged or consolidated or by which it may be succeeded.

                                       2
<PAGE>
2.11  "DEFERRED COMPENSATION ACCOUNT" means the separate book reserve account
      established by the Participating Companies pursuant to Article 4 of this
      Plan for each Participant to which shall be credited (added) the
      Participant's share of any elective Deferral amounts and Matching Employer
      Amounts; and from which any distributions, any hardship withdrawal
      distributions, and any Forfeitures shall be subtracted; and which shall be
      adjusted for allocation of accrued earnings and losses thereon as descried
      in Sections 4.04 or 4.05 hereof and for allocation of any Forfeitures
      (which arises pursuant to Section 5.04)) pursuant to Section 7.03 hereof.
      All amounts which are credited to such Deferred Compensation Account are
      credited solely for computation purposes and are at all times general
      assets of the Participating Companies and subject to the claims of the
      general creditors of the Participating companies. A Participant's Deferred
      Compensation Account shall be utilized solely as a device for the
      determination and measurement of the amounts (subject to vesting
      provisions in this Plan) to be paid as deferred compensation benefits to
      the Participant or his beneficiary pursuant to the Plan. Any Associate or
      Participant shall not have at any time any interest in or to such Deferred
      Compensation Account or in any deemed investment thereof. A Participant's
      Deferred Compensation Account shall not constitute or be treated as a
      trust or trust fund of any kind. For purposes of administrative
      convenience and for purposes of certain provisions of this Plan, each
      Participant's deferred Compensation Account shall be divided into the
      following subaccounts or parts:

            "PART I"  attributable to Elective Deferral Amounts pursuant to
                      Section 4.02 hereof; and

            "PART II" attributable to Matching Employer Amounts pursuant to
                      Section 4.03 hereof.

      Notwithstanding anything in the Plan to the contrary, the Deferred
      Compensation Account shall include the amounts allocated under the Prior
      Plan pursuant to Section 1.03 hereof.

2.12  "DISABILITY" shall mean the inability to engage in any substantially
      gainful activity by reason of any medically determinable physical or
      mental impairment that can be expected to result in death or to be of
      continued and indefinite duration, as determined by the Committee on the
      basis of medical evidence by a licensed physician designated by the
      Committee.

2.13  "DISTRIBUTION DATE" means either the (a) January 31 in the Plan Year
      following the Plan Year in which the participant terminates employment
      with the Participating Companies and subsidiaries or (b) such earlier date
      as the Committee may, in its sole discretion determine, which immediately
      follows the termination of employment of the Participant, as provided in
      Section 5.02 of the Plan.

                                       3
<PAGE>
2.14  "EFFECTIVE DATE" of the amended, restated and renamed Plan means January
      1, 1999, except as otherwise specifically stated.

2.15  "ERISA" means the Employee Retirement Income Security Act of 1974, as
      amended from time to time.

2.16  "FORFEITURE" means the portion of a Participant's Deferred Compensation
      Account (or parts thereof) which is forfeited before full vesting occurs
      pursuant to Section 5.04(c) or which is forfeited under section 7.02
      hereof.

2.17  "PARTICIPANT" means an eligible Associate participating in the Plan
      pursuant to the provisions of Article 3 hereof.

2.18  "PARTICIPATING COMPANY" means any "Employer" as defined in the Savings
      Plan.

2.19  "PLAN" means this Ingram Micro Supplemental Investment Savings Plan as
      established and set forth herein (together with any and all supplements
      hereto), and as amended from time to time.

2.20  "PLAN YEAR" means the twelve (12) consecutive month period beginning on
      each January 1 and ending on each following December 31 thereafter (the
      calendar year).

2.21  "SAVINGS PLAN" means the Ingram Micro Thrift Plan (which was established
      effective October 1, 1996, as amended from time to time, and as in effect
      on the relevant date to be interpreted hereunder and the amended, restated
      and re-named the Ingram Micro 401(k) Investment Savings Plan effective
      January 1, 1999. References in this Plan to the Savings Plan (including
      references to provisions, articles, and sections of the Savings Plan)
      include references to the Savings Plan as it may be amended from time to
      time (and references to provisions, articles, and sections of the Savings
      Plan include references to corresponding or succeeding provisions in the
      Savings Plan as it may be amended from time to time).

2.22  "SUBSIDIARY": shall mean any corporation that is a member of a controlled
      group of corporations of which a Participating Company is a member, or any
      unincorporated trade or business that is under common control of or with
      any Participating Subsidiary as determined under Code section 414(b). For
      purposes of this definition, a "controlled group of corporations" shall
      mean a controlled group of corporations as defined in Code Section
      1563(a)(4) and (e)(3)(C).

                                       4
<PAGE>
                                    ARTICLE 3
                                    CHAPTER 3
                          ELIGIBILITY AND PARTICIPATION

3.01  ELIGIBILITY.

      Eligibility to participate in the Plan shall be limited to Associates of
      the Participating companies who are in a select group of management or
      highly compensated Associates and who are designated, from time to time,
      by the committee as eligible to participate in the Plan.

3.02  PARTICIPATION.

      An Associate eligible to participate in the Plan as provided in Section
      3.01 hereof may elect to become a participant in the Plan by electing to
      defer Compensation with respect to any Compensation Deferral Period under
      Article 4 hereof by completing and delivering to the Committee a duly
      executed Compensation Deferral Agreement as provided in Section 4.02.

3.03  TERMINATION OF PARTICIPATION FOR PURPOSES OF MAKING DEFERRALS.

      Participation in the Plan for purposes of being able to make Elective
      deferral amounts pursuant to section 4.02 hereof under this Plan shall
      terminate when a Participant's employment with the Participating companies
      as an Associate terminates (even though he may be employed by a Subsidiary
      which is not a Participating Company), when such Participant is no longer
      designated by the committee as an Associate eligible to participate in the
      Plan, or at such time as the Participant delivers to the Committee a
      written notice suspending future deferrals.

                                       5
<PAGE>
                                    ARTICLE 4
                                    CHAPTER 4
                         DEFERRED COMPENSATION ACCOUNTS

4.01  DEFERRED COMPENSATION ACCOUNT.

      On behalf of Participating Companies the Committee shall establish and
      maintain for each Participant or former Participant under the Plan (or the
      Prior Plan as described in Section 1.03) a book reserve account (the
      Deferred Compensation Account as defined in Section 2.10 hereof) for the
      purpose of determining deferred compensation payable to the Participant.
      Separate subaccounts shall be maintained as provided in Section 2.1
      consisting of Part I (attributable to Elective Deferral Amounts pursuant
      to Section 4.02 hereof) and Part II (attributable to Matching Employer
      Amounts pursuant to Section 4.03 hereof). Such Deferred compensation
      Accounts (and subaccounts or parts thereof) shall be governed by the
      provisions of this Article 4.

4.02  ELECTIVE DEFERRAL AMOUNTS.

      Elective Deferral of Compensation by Participants under the Plan is
      governed by the provisions of this Section. Amounts deferred by a
      Participant pursuant to this Section shall constitute "Elective Deferral
      Amounts" for purposes of this plan.

      (a)   Compensation Elective Deferrals. The following provisions apply to
            elective deferral of Compensation by Participants under the Plan.

            (i)   Compensation Deferral Elections by Participants. With respect
                  to a Compensation deferral Period, a Participant may make an
                  election prior to the Compensation Deferral Date on which such
                  Compensation deferral Period begins to defer a specified
                  percentage of the Compensation which would otherwise be
                  payable by the Participating company to the Participant during
                  the Compensation Deferral Period beginning on such
                  Compensation Deferral Date. Any such election shall be made on
                  a Compensation Deferral Agreement which is duly executed by
                  the Participant and which is delivered by such Participant to
                  the Committee before such Compensation Deferral Date and may
                  not be revoked, changed or modified for and during the
                  applicable Compensation Deferral Period, except as otherwise
                  provided in Section 4.02. In addition, a Participant electing
                  to make Compensation Election Deferrals to this Plan under a
                  Compensation Deferral Agreement is also electing to defer any
                  amounts that would have been deferred under the Savings Plan
                  but were stopped due to the limits imposed under the terms of
                  the plan.

                                       6
<PAGE>
            (ii)  Compensation Deferral Elections by Certain New Participants.
                  In the case of an Associate who first becomes eligible to
                  participate in the Plan during Compensation Deferral Period,
                  such an Associate may make an election no later than thirty
                  (30) days following the date such employee first becomes
                  eligible to participate in the Plan to defer a specified
                  percentage of the Compensation which would otherwise be earned
                  by such employee and be payable by the participating Employer
                  after the later of (i) the date the Associate first becomes
                  eligible to participate in the Plan or (ii) the date such
                  Compensation Deferral Agreement is received by the committee
                  and during the remainder of the Compensation Deferral Period.
                  Any such election shall be made on a Compensation Deferral
                  Agreement which is duly executed by the associate and which is
                  delivered by such Associate to the Committee no later than
                  thirty (30) days following the date the Associate first
                  becomes eligible to participate in the Plan, and may not be
                  revoked, changed or modified for and during the applicable
                  Compensation Deferral Period, and the provisions of Subsection
                  4.02(a)(iii) shall apply to any such election. If such
                  Associate does not make any such election, such Associate may
                  make an election under section 4.02(a) with respect to the
                  next Compensation Deferral Period (or later Compensation
                  Deferral Periods) pursuant to the applicable provisions.

            (iii) Continuation and Irrevocability of Election. Any election by a
                  Participant pursuant to Subsection 4.02(a)(ii)(and any
                  subsequent election) will continue (and may not be modified,
                  altered, or changed in any way) until the earliest of:

                  (A)   the Compensation Deferral Period commencing after the
                        date the Participant delivers to the Committee a written
                        notice to suspend future deferrals of Compensation under
                        the Plan,

                  (B)   the Compensation Deferral Period commencing after the
                        date on which the Participant delivers a new
                        Compensation Deferral Agreement modifying his previous
                        election to the Committee,

                  (C)   the Participant is no longer designated as eligible to
                        participate in the Plan,

                  (D)   the Participant terminates employment with the
                        Participating companies, or

                  (E)   the Plan is amended or terminated such that the Plan no
                        longer permits deferrals of Compensation. A Participant
                        must make a new election each year prior to the next
                        Compensation Deferral Period to continue participating
                        in the Plan. The failure to make an election prior to
                        any Compensation Deferral Period shall be deemed an
                        election not to participate for that period.

                                       7
<PAGE>
            (iv)  Limitations on Percentage Amounts. A Participant who elects to
                  make the maximum elective deferral to the Savings Plan for a
                  calendar year may elect to make a "basic deferral" of up to
                  fifteen percent (15%) of the Participant's annual compensation
                  otherwise payable to him, minus the maximum amount that could
                  have been contributed by the Participant in the Savings Plan.
                  In addition, such a participant may also make a "supplemental
                  deferral election" of the Participant's compensation otherwise
                  payable to him in an amount not to exceed the amount of
                  compensation that such participant contributed to the Savings
                  Plan in the preceding calendar year which is refunded to such
                  participant in the current calendar year as a result of the
                  special nondiscrimination testing applicable to the Savings
                  Plan. This election shall be made at the same time prior to
                  the Compensation deferral Period as the "basic deferral"
                  elections.

      (b)   Withholding and Crediting of Elective Deferral Amounts. The
            Participating Company shall withhold the specified percentage
            amounts deferred by the Participant hereunder from the Compensation
            which is otherwise payable to the Participant. The committee shall
            credit amounts equal to such withheld amounts to Part I of the
            Participant's Deferred Compensation Account.

4.03  MATCHING EMPLOYER AMOUNTS.

      With respect to each Compensation Deferral Period, an amount equal to the
      matching percentage of the Participants elective deferral Amounts (not in
      excess of 5% of his annual compensation) shall be credited to Part II of
      the Participant's Deferred Compensation Account. Provided however that the
      amount matched shall not exceed an amount equal to 5% of the Participant's
      annual compensation reduced, not below zero (0), by the maximum amount
      that could have been contributed by the Participant in the Savings Plan.
      If at any time it is determined by the Committee that the Savings Plan
      does not pass the applicable nondiscrimination tests, any such excess
      employer matching contributions shall be deposited into this Plan, rather
      than the Savings Plan, subject to the limits set forth in this Section
      4.03. For purposes of calculating the employer matching contribution, the
      Participant's annual compensation shall be the definition as set forth in
      Section 2.05, excluding the annual bonus. The matching percentage shall be
      determined under the following table based on the Participant's "Years of
      Matching Service" under the Savings Plan as of the first day of the Plan
      Year which includes the related Compensation Deferral Period.

                                       8
<PAGE>
<TABLE>
<CAPTION>
                 Savings Plan                Matching Percentage
                   Years of                      Applied to
               Vesting Service            Elective Deferral Amounts
               ---------------            -------------------------
<S>                                       <C>
          Less than 5                                50%
          At least 5 but less than 10                75%
          10 or more                                100%
</TABLE>

      Such matching amount shall be credited to Part II of the Participant's
      Deferred Compensation Account at such time as the Committee in its sole
      discretion may determine, but within a reasonable time after the end of
      the Plan Year to which such amount relates. Any such amounts shall
      constitute "Matching Employer Amounts" for purposes of this plan.

4.04  DEEMED INVESTMENT AMOUNTS CREDITED TO DEFERRED COMPENSATION ACCOUNTS.

      Solely as a device to measure amounts of deferred compensation payable
      hereunder, the Committee shall establish uniform and nondiscriminatory
      rules consistent with this Section for the treatment of amounts credited
      to a Participant's Deferred compensation Account as if such amounts were
      invested in the investment funds offered under the Savings Plan. No
      investment of such amounts is required. Such rules shall be similar to
      those under the Savings Plan, but shall be established in the sole
      discretion of the committee. Such rules shall permit Participants to
      designate deemed investment of amounts credited to a Participant's
      deferred compensation Account among such funds and to make transfers among
      such funds in a manner similar to those under the Savings Plan.

4.05  ALLOCATION OF ACCRUED EARNINGS AND LOSSES OF DEEMED INVESTMENTS.

      Solely as a device to measure amounts of deferred compensation payable to
      Participants, former Participants, or beneficiaries hereunder, the
      Committee shall establish uniform and nondiscriminatory rules consistent
      with this Section to determine accrued income, gains and losses from the
      investments of Deferred Compensation Accounts deemed to be made pursuant
      to Section 4.04 hereof to be allocated among credit balances of Deferred
      compensation Accounts. Any accrued earnings and losses shall be allocated
      and credited to a Participant's Deferred Compensation Account on a daily
      basis.

                                       9
<PAGE>
                                    ARTICLE 5
                                    CHAPTER 5
                 DISTRIBUTION OF DEFERRED COMPENSATION BENEFITS

5.01  IN GENERAL.

      The benefits to be paid as deferred compensation are governed by the
      provisions of this Article 5. A Participant whose employment with the
      Participating Companies or Subsidiaries terminates for any reason shall be
      entitled to distribution of benefits pursuant to this Article, subject to
      the provisions of Article 7.

5.02  TIME OF DISTRIBUTION.

      The Corporation on behalf of the Participating Company or Companies shall
      commence distribution of benefits beginning with the Distribution Date
      immediately following the Participant's termination of employment with the
      Participating Companies and Subsidiaries for any reason (including
      retirement at or after age 65, death or Disability). Provided, however
      benefits shall be valued and made pursuant to the provisions of Section
      5.05 hereof.

5.03  HARDSHIP DISTRIBUTIONS.

      Notwithstanding the foregoing, the Committee may, in its sole discretion,
      commence distribution of benefits from Part I and Part II of a
      Participant's Deferred Compensation Account as defined in Section 2.10, at
      any date earlier than that provided in Section 5.02 based on a
      determination of an unforeseeable financial emergency. A hardship
      distribution under this Section is only permitted after a Participant has
      obtained any hardship distribution available under the Savings Plan. A
      Participant may withdraw in cash the portion of the balance of his
      deferral account needed to satisfy the unforeseeable financial emergency,
      to the extent that the unforeseeable financial emergency may not be
      relieved:

      (a)   Through reimbursement or compensation by insurance or otherwise; or

      (b)   By liquidation of the Participant's assets, to the extent the
            liquidation of such assets would not itself cause severe financial
            hardship.

      An "unforeseeable financial emergency" is a severe financial hardship to
      the Participant resulting from:

            (i)   A sudden and unexpected illness or accident of the participant
                  or of a dependent of the Participant;

            (ii)  Loss of the Participant's property due to casualty; or

                                       10
<PAGE>
            (iii) Such other similar extraordinary and unforeseeable
                  circumstances arising as a result of events beyond the control
                  of the Participant as determined by the Committee.

A withdrawal on account of an unforeseeable financial emergency shall be paid as
soon as possible following the date on which the Committee approves the
withdrawal.

5.04  VESTING

      In connection with distribution of benefits to a former Participant due to
      termination of employment with the participating Companies or Subsidiaries
      for any reason pursuant to this Article 5 but subject in all events to the
      provisions of Article 7 hereof, the Vested Percentage of the Participant's
      Deferred compensation Account (and Parts therein) shall be determined as
      of the date the event giving rise to distribution under Section 5.02
      hereof as follows:

      (a)   Death or Disability. If the distribution is due to the death or
            Disability of the Participant, then the Vested Percentage of the
            Participant in parts I and II of his Deferred compensation account
            shall be 100%.

      (b)   Retirement At or After Age 65. If the distribution is due to the
            termination of the Participant by all of the Participating Companies
            and Subsidiaries by reason of his retirement at or after attaining
            age 64, then the Vested percentage of the participant in Parts I and
            II of his Deferred Compensation Account shall be 100%.

      (c)   Other Termination. If the distribution is due to the termination of
            employment of the Participant by all of the participating Companies
            and subsidiaries for any reason other than his death, Disability or
            retirement at or after age 65, then the Vested Percentage of Part I
            of the Participants Deferred Compensation Account shall be 100% and
            the Vested Percentage of Part II of the Participant's Deferred
            compensation Account shall be the same as his vested percentage
            under the Savings Plan in company contributions. The portion of Part
            II of a Participants Deferred Compensation Account in which he is
            not vested as of the date of the termination of employment giving
            rise to distribution under Section 5.02 hereof shall be treated as a
            Forfeiture and the nonvested portion of a Participant's balance
            deemed invested as described in the Savings Plan, if any, shall be
            forfeited as of the Distribution Date. Such Forfeitures shall be
            treated as provided in Article 7 hereof.

            These vesting provisions are provided merely for purposes of
            determining amounts of deferred compensation benefits payable
            hereunder.

                                       11
<PAGE>
5.05  AMOUNT AND METHOD OF DISTRIBUTION OF BENEFITS

      A Participant whose employment with the Participating companies or
      subsidiaries terminates shall be entitled to the Participant's respective
      Vested Percentage (determined under Section 5.04 hereof) portions of the
      balances credited to Part I and Part II, respectively, of his Deferred
      Compensation Account as of the Distribution Date as determined by the
      Committee subject to the distribution method determined by the Committee.
      Distribution of such deferred compensation benefits to a former
      Participant under this Plan shall be made by the Corporation on behalf of
      the Participating Companies as directed by the Committee in its sole
      discretion as follows:

      (a)   Termination of Employment.

            (i)   In the event a Participant's employment terminates for any
                  reason, including (without limitation) death, retirement or
                  disability, then the vested percentage of the Participant's
                  Deferred Compensation Account shall be paid to the Participant
                  (and after the Participant's death to his beneficiary).
                  Payment shall be made in the form of quarterly installments
                  over a 10-year period commencing in the quarter following the
                  quarter in which the Participant terminates employment. A
                  Participant may elect to have distribution made in one of the
                  optional forms of payment as set forth below:

                  (A)   Quarterly installment payments over a

                        (1)   15-year period; or

                        (2)   5-year period

                  (B)   Single lump sum payment within 60 days following
                        termination of employment or on January 31st of the
                        following calendar year, as elected by the Participant.

            (ii)  A Participant may make such distribution election by
                  completing a form approved by and filed with the Committee
                  within (30) days of the date the eligible Associate first
                  becomes a Participant. A Participant may change his form of
                  distribution under this section provided that he files the
                  change with the Committee at least one (1) year prior to his
                  Distribution Date. Once distribution begins, a Participant may
                  elect another form of distribution, however, such change shall
                  be subject to a 10% penalty which amount shall be deducted and
                  forfeited by the Participant.

            (iii) Notwithstanding the foregoing, if the Participant's vested
                  Deferred Compensation Account balance is Twenty-Five Thousand
                  Dollars

                                       12
<PAGE>
                  ($25,000) or less, the balance in his account shall be
                  automatically distributed in the form of a cash lump sum on
                  the Participant's Distribution Date; or such earlier date as
                  the Committee may, at its sole discretion, determine which
                  immediately follows the date of termination.

            (iv)  If the Participant's vested Deferred Compensation Account
                  balance is paid in installments, the Participant's account
                  shall continue to be credited with earnings and losses
                  pursuant to Section 4.05 and the installment amount shall be
                  adjusted as well to reflect gains and losses until all amounts
                  credited to his account under the Plan have been distributed.

            (v)   Amounts payable pursuant to this Section shall be subject to
                  the limitation on payout under Section 5.05(d) herein.

      (b)   Death While Receiving Benefits. If a Participant is in pay status at
            the time of death, his or her beneficiary shall be paid any
            remaining amount due the Participant in the same form as elected by
            the Participant pursuant to Section (a)(i).

      (c)   The Committee may, in its sole discretion, direct that the
            Participating Company accelerate distributions under any option in
            effect or pay any amounts in larger or more frequent installments,
            as determined by it to be in the best interests of the former
            Participant after consultation with the former Participant.

      (d)   Notwithstanding the foregoing, any hardship distributions which are
            made as provided in Section 5.03 above from Part I or Part II of a
            Participant's Deferred Compensation Account, as defined in Section
            2.10, shall be made in such amounts and for such periods of time as
            may be considered necessary by the Committee to meet the conditions
            of such financial hardship. However, in no event will amounts in
            excess of the remaining value of Part I or Part II of Participant's
            Deferred Compensation Account, as defined in Section 2.10 become
            payable to the Participant.

5.05  COMMITTEE DECISION.

      Any decision to be made by the Committee under this Article 5 with respect
      to the distribution of benefits with respect to a Participant or former
      Participant under this Plan shall be made by the committee, but such
      Participant shall exclude himself therefrom for purposes of those
      decisions if such participant is a member of the Committee.

                                       13
<PAGE>
5.06  PAYMENTS AFTER PARTICIPANT'S DEATH.

      If the Participant's employment with the Participating Companies or
      Subsidiaries is terminated because of his death, then the deferred
      compensation benefits otherwise payable with respect to the Participant
      under the Plan shall be paid in a lump sum or installments in a manner
      similar to that provided in Section 8.2 of the Savings Plan as determined
      by the Committee in its sole discretion. However, the written election
      described in Section 8.2 of the Savings Plan for installment payments
      shall not be available to a Participant under this Plan, but the Committee
      may direct such installment payments in its sole discretion.

      If a former Participant dies after the date payment of benefits has
      commenced under this Plan, then the beneficiary or beneficiaries
      designated by that Participant shall be entitled to payment of any
      remaining installments of deferred compensation benefits over the
      remaining period; provided, however, that the Committee may direct the
      acceleration of payment of benefits hereunder in its sole discretion after
      consultation with the beneficiary or beneficiaries.

5.07  DESIGNATION OF BENEFICIARIES.

      The Participant may designate in writing (on a form provided by the
      Committee and delivered to the Committee before his death) primary and
      contingent beneficiaries to receive any deferred compensation benefit
      payments which may be payable hereunder following the Participant's death
      and the proportions in which such beneficiaries are to receive such
      payments. The Participant may change such designation from time to time
      and the last written designation delivered to the Committee prior to the
      Participant's death will control. If the Participant fails to specifically
      designate such a beneficiary, or if not designated beneficiary survives
      the Participant, or if all designated beneficiaries who survive the
      Participant die before all payments are made, then the remaining payments
      shall be made to the Participant's surviving spouse if such spouse is then
      living; if such spouse is not living, then to such person or persons as
      would be entitled to take the estate of the Participant under the
      intestacy laws of the state of which such a Participant was a resident at
      the time of his death; and if there are no such persons, then to the
      executors or administrators of the estate of the Participant. The
      Committee may determine the identity of such persons and shall incur no
      responsibility by reason of the payment of such interest in accordance
      with any such determination made in good faith.

5.08  LOANS.

      Loans to Participants are not permitted from this Plan.

                                       14
<PAGE>
                                    ARTICLE 6
                                    CHAPTER 6
                          FINANCING AND UNFUNDED STATUS

6.01  COSTS BORNE BY THE PARTICIPATING COMPANIES.

      The costs of the Plan shall be borne by the Participating Companies.

6.02  SOURCE OF BENEFIT PAYMENTS AND MEDIUM OF FINANCING THE PLAN.

      All payments under this Plan shall be paid in cash by the Corporation from
      the general funds of the Participating Companies and no special or
      separate fund shall be established and no other segregation of assets
      shall be made to assure the payment of benefits hereunder. Nothing
      contained in this Plan, and no action taken pursuant to its provisions,
      shall create or be construed to create a trust of any kind, or a fiduciary
      relationship, between any Participating Company and any Participant, any
      beneficiary or beneficiaries of a Participant, or any other person. To the
      extent that any person acquires a right to receive payments from any
      Participating Company, such right shall be no greater than the right of an
      unsecured creditor of such Participating Company.

6.03  UNFUNDED STATUS.

      This Plan is intended to be unfunded for purposes of both ERISA and the
      Code.

                                       15
<PAGE>
                                    ARTICLE 7
                                    CHAPTER 7
                                   FORFEITURES

7.01  FORFEITURES.

      Forfeitures may arise pursuant to Section 5.04(C) or Section 7.02 hereof.

7.02  CERTAIN FORFEITURE CONDITIONS.

      Notwithstanding anything contained to the contrary (including any
      provisions of Article 5 hereof concerning "vesting"), no payment of any
      then unpaid installments of deferred compensation in Part II of a
      Participant's deferred Compensation Account shall be made and al rights
      under this Plan of the Participant, his designated beneficiary or
      beneficiaries, executors, administrators, legal representatives, or any
      other person, to receive payments thereof from Part II of a Participant's
      Deferred Compensation Account shall be forfeited and the entire balance of
      Part II of a Participant's Deferred Compensation Account forfeited and
      treated as a forfeiture if the Participant shall engage in any activity or
      conduct which in the opinion of the Committee is substantially detrimental
      to the best interests of the Participating Companies.

7.03  TREATMENT OF FORFEITURES.

      Forfeitures which arise pursuant to Section 5.04(c) shall be subtracted
      (deleted) from the credit balance of Part II of a Participant's Deferred
      Compensation Account. Such Forfeitures from Part II of a Participant's
      Deferred Compensation Account deemed to be invested as described in the
      Savings Plan shall be used either to offset future Matching Employer
      amounts as described in Section 4.03 or to offset the reasonable expenses
      of the Plan.

      Amounts forfeited due to the operation of Section 7.02 shall be subtracted
      (deleted) from the credit balance of Part II of a participant's Deferred
      Compensation Account. Such amounts forfeited pursuant to Section 7.02
      shall not be treated as Forfeitures pursuant to Section 5.04(C) but
      instead shall be treated as deleted from Part II of a Participant's
      Deferred Compensation Account and no longer an obligation of any
      Participating Company in any way.

                                       16
<PAGE>
                                    ARTICLE 8
                                    CHAPTER 8
                                 ADMINISTRATION

8.01  GENERAL ADMINISTRATION.

The Board shall appoint a Committee consisting of not less than three (3)
persons to administer the Plan. Any member of the Committee may at any time be
removed, with or without cause, and his successor appointed by the Board, and
any vacancy caused by death, resignation or other reason shall be filled by the
Board. The Committee shall be the plan administrator of the Plan and in general
shall be responsible for the management and administration of the Plan. The
Committee shall have full power to administer the Plan in all of its details
(including establishing claims procedures and other rules), subject to
applicable requirements of law. No member of the Committee who is an employee of
the Participating Companies or Subsidiaries shall receive compensation for his
services to the Plan. The Committee shall have such duties and powers as may be
necessary to discharge its duties under this Plan.

The fiscal records of the Plan shall be maintained on the basis of the Plan
Year.

8.02  COMMITTEE PROCEDURES.

The Committee may act at a meeting or in writing without a meeting. The
Committee may adopt such by-laws and regulations as it deems desirable for the
conduct of its affairs. All decisions shall be made by majority vote. No member
of the Committee who is at any time a participant in this Plan shall vote in a
decision of the Committee (whether in a meeting or by written action) made
specifically and uniquely with respect to such member of the Committee or
amount, payment, timing, form or other aspect of the benefits of such Committee
member under this Plan.

8.03  FACILITY OF PAYMENT.

Whenever, in the Committee's opinion, a person entitled to receive any payment
of a benefit or installment thereof hereunder is under a legal disability or is
incapacitated in any way so as to be unable to manage his financial affairs, the
Committee may direct payments to such person or to his legal representative or
to a relative or friend of such person for his benefit, or the Committee may
direct the payment for the benefit of such person in such manner as the
Committee considers advisable. Any payment of a benefit or installment thereof
in accordance with the provisions of this Section shall be a complete discharge
to the Committee and the Participating Companies of any liability for the making
of such payment under the provisions of the Plan.

8.04  INDEMNIFICATION OF COMMITTEE MEMBERS.

The Participating Companies shall indemnify and hold harmless each member of the
Committee against any and all liability, claims, damages and expense (including
all

                                       17
<PAGE>
expenses reasonably incurred in his defense in the event that the Participating
Companies fail to provide such defense upon his written request) which the
Committee member may incur while acting in good faith in the administration of
the Plan.

                                       18
<PAGE>
                                    ARTICLE 9
                                    CHAPTER 9
                        AMENDMENT AND TERMINATION OF PLAN

9.01  AMENDMENT AND TERMINATION.

The Board may amend or terminate the Plan (without the consent of any
Participant, former Participant or beneficiary) at any time, provided that such
amendment does not decrease or divest any then Participant or former Participant
of the amounts in Part I of this deferred Compensation Account as of the date of
amendment and does not reduce the Vested Percentage of any then Participant or
former Participant in any subaccount (Part) of his Deferred Compensation Account
as of the date of amendment.

                                       19
<PAGE>
                                   ARTICLE 10
                                   CHAPTER 10
                               GENERAL PROVISIONS

10.01 LIMITATION OF RIGHTS.

Neither the establishment of this Plan nor any amendment thereof, nor the
payment of any benefits, will be construed as giving to any Associate,
Participant, beneficiary, or other person any legal or equitable right against
the Participating Companies, except as provided herein. Neither the
establishment of this Plan nor any amendment thereof, nor the payment of
benefits, nor any action taken with respect to this Plan shall confer upon any
person the right to be continued in the employment of the Participating
Companies or Subsidiaries.

10.02 NO ASSIGNMENT OR ALIENATION OF BENEFITS.

The rights of a Participant, former Participant, beneficiary or any other person
to payment of benefits under this Plan shall not be assigned, transferred,
anticipated, conveyed, pledged or encumbered except by will or the laws of
descent or distribution; nor shall any such right be in any manner subject to
levy, attachment, execution, garnishment or any other seizure under legal,
equitable or other process for payment of any debts, judgments, alimony, or
separate maintenance, or reached or transferred by operation of law in the event
of bankruptcy, insolvency or otherwise. Provided, however, that a Participant
shall have the right to designate in writing and in accordance with the
provisions of Section 5.08 hereof primary and contingent beneficiaries to
receive benefit payments subsequent to the death of the Participant.

10.03 SUCCESSORS.

The provisions of this Plan shall be binding upon and inure to the benefit of
the Corporation, its successors, and assigns, and each participant and his
heirs, executors, administrators and legal representatives. The term successors
as used herein shall include any corporate or other business entity which shall,
whether by merger, consolidation, purchase or otherwise, acquire all or
substantially all of the assets of the Corporation, and successors of any such
corporation or other business entity.

                                       20
<PAGE>
10.04 GOVERNING LAW.

Except to the extent Federal law is controlling, the provisions of this Plan
shall be interpreted and construed according to the laws of the State of
California to the extent not preempted by applicable law.

IN WITNESS WHEREOF, the Corporation has caused this Plan to be duly executed for
and on behalf of the Corporation by its duly authorized officers on this the
14th day of July, 1999.

                              INGRAM MICRO INC.

                              By: /s/ James E. Anderson, Jr.
                                  ------------------------------------

                              Title: Senior Vice President, Secretary
                                     and General Counsel

ATTEST:

__________________________

                                       21

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00079-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00079-of-00352.parquet"}]]