Document:

Form of 2003 Stock Incentive Plan

 Exhibit 10.4 
  
 SYNNEX CORPORATION 
  
 2003 STOCK INCENTIVE PLAN 
  
 (Adopted by the Board on October 1, 2003) 

 TABLE OF CONTENTS 
  

	 	 	 	  	 	  	Page

	 Section 1.
	 	 ESTABLISHMENT AND PURPOSE.
	  	1
			
	 Section 2.
	 	 DEFINITIONS.
	  	1
	 	 	 (a)
	  	“Affiliate”	  	1
	 	 	 (b)
	  	“Award”	  	1
	 	 	 (c)
	  	“Board of Directors”	  	1
	 	 	 (d)
	  	“Change in Control”	  	1
	 	 	 (e)
	  	“Code”	  	2
	 	 	 (f)
	  	“Committee”	  	2
	 	 	 (g)
	  	“Company”	  	2
	 	 	 (h)
	  	“Consultant”	  	2
	 	 	 (i)
	  	“Disability”	  	3
	 	 	 (j)
	  	“Employee”	  	3
	 	 	 (k)
	  	“Exchange Act”	  	3
	 	 	 (l)
	  	“Exercise Price”	  	3
	 	 	 (m)
	  	“Fair Market Value”	  	3
	 	 	 (n)
	  	“ISO”	  	3
	 	 	 (o)
	  	“Misconduct”	  	3
	 	 	 (p)
	  	“Nonstatutory Option” or “NSO”	  	4
	 	 	 (q)
	  	“Offeree”	  	4
	 	 	 (r)
	  	“Option”	  	4
	 	 	 (s)
	  	“Optionee”	  	4
	 	 	 (t)
	  	“Outside Director”	  	4
	 	 	 (u)
	  	“Parent”	  	4
	 	 	 (v)
	  	“Participant”	  	4
	 	 	 (w)
	  	“Plan”	  	4
	 	 	 (x)
	  	“Purchase Price”	  	4
	 	 	 (y)
	  	“Restricted Share”	  	4
	 	 	 (z)
	  	“Restricted Share Agreement ”	  	4
	 	 	 (aa)
	  	“SAR”	  	4
	 	 	 (bb)
	  	“SAR Agreement”	  	4
	 	 	 (cc)
	  	“Service”	  	4
	 	 	 (dd)
	  	“Share”	  	4
	 	 	 (ee)
	  	“Stock”	  	4
	 	 	 (ff)
	  	“Stock Option Agreement”	  	5
	 	 	 (gg)
	  	“Subsidiary”	  	5
			
	 Section 3.
	 	 ADMINISTRATION.
	  	5
	 	 	 (a)
	  	Committee Composition	  	5
	 	 	 (b)
	  	Committee for Non-Officer Grants	  	5
	 	 	 (c)
	  	Committee Procedures	  	5
	 	 	 (d)
	  	Committee Responsibilities	  	5

  

 -i- 

	 Section 4.
	 	 ELIGIBILITY.
	  	7
	 	 	 (a)
	  	General Rule	  	7
	 	 	 (b)
	  	Automatic Grants to Outside Directors	  	7
	 	 	 (c)
	  	Ten–Percent Stockholders	  	8
	 	 	 (d)
	  	Attribution Rules	  	8
	 	 	 (e)
	  	Outstanding Stock	  	8
			
	Section 5.	 	 STOCK SUBJECT TO PLAN.
	  	8
	 	 	 (a)
	  	Basic Limitation	  	8
	 	 	 (b)
	  	Additional Shares	  	9
			
	 Section 6.
	 	 RESTRICTED SHARES.
	  	9
	 	 	 (a)
	  	Restricted Stock Agreement	  	9
	 	 	 (b)
	  	Payment for Awards	  	9
	 	 	 (c)
	  	Vesting	  	9
	 	 	 (d)
	  	Voting and Dividend Rights	  	9
	 	 	 (e)
	  	Restrictions on Transfer of Shares	  	9
			
	 Section 7.
	 	 TERMS AND CONDITIONS OF OPTIONS.
	  	10
	 	 	 (a)
	  	Stock Option Agreement	  	10
	 	 	 (b)
	  	Number of Shares	  	10
	 	 	 (c)
	  	Exercise Price	  	10
	 	 	 (d)
	  	Withholding Taxes	  	10
	 	 	 (e)
	  	Exercisability and Term	  	10
	 	 	 (f)
	  	Exercise of Options Upon Termination of Service	  	11
	 	 	 (g)
	  	Effect of Change in Control	  	11
	 	 	 (h)
	  	Leaves of Absence	  	11
	 	 	 (i)
	  	No Rights as a Stockholder	  	11
	 	 	 (j)
	  	Modification, Extension and Renewal of Options	  	11
	 	 	 (k)
	  	Restrictions on Transfer of Shares	  	11
	 	 	 (l)
	  	Buyout Provisions	  	12
			
	 Section 8.
	 	 PAYMENT FOR SHARES.
	  	12
	 	 	 (a)
	  	General Rule	  	12
	 	 	 (b)
	  	Surrender of Stock	  	12
	 	 	 (c)
	  	Services Rendered	  	12
	 	 	 (d)
	  	Cashless Exercise	  	12
	 	 	 (e)
	  	Exercise/Pledge	  	12
	 	 	 (f)
	  	Promissory Note	  	12
	 	 	 (g)
	  	Other Forms of Payment	  	12
	 	 	 (h)
	  	Limitations under Applicable Law	  	12
			
	 Section 9.
	 	 STOCK APPRECIATION RIGHTS.
	  	13
	 	 	 (a)
	  	SAR Agreement	  	13
	 	 	 (b)
	  	Number of Shares	  	13
	 	 	 (c)
	  	Exercise Price	  	13
	 	 	 (d)
	  	Exercisability and Term	  	13

  

 -ii- 

	 	 	 (e)
	  	Effect of Change in Control	  	13
	 	 	 (f)
	  	Exercise of SARs	  	13
	 	 	 (g)
	  	Modification or Assumption of SARs	  	13
			
	 Section 10.
	 	 ADJUSTMENT OF SHARES.
	  	14
	 	 	 (a)
	  	Adjustments	  	14
	 	 	 (b)
	  	Dissolution or Liquidation	  	14
	 	 	 (c)
	  	Reorganizations	  	14
	 	 	 (d)
	  	Reservation of Rights	  	15
			
	 Section 11.
	 	 LEGAL AND REGULATORY REQUIREMENTS.
	  	15
			
	 Section 12.
	 	 WITHHOLDING TAXES.
	  	15
	 	 	 (a)
	  	General	  	15
	 	 	 (b)
	  	Share Withholding	  	15
			
	 Section 13.
	 	 LIMITATION ON PARACHUTE PAYMENTS.
	  	15
	 	 	 (a)
	  	Scope of Limitation	  	15
	 	 	 (b)
	  	Basic Rule	  	15
	 	 	 (c)
	  	Reduction of Payments	  	16
	 	 	 (d)
	  	Related Corporations	  	16
			
	 Section 14.
	 	 NO EMPLOYMENT RIGHTS.
	  	16
			
	 Section 15.
	 	 DURATION AND AMENDMENTS.
	  	16
	 	 	 (a)
	  	Term of the Plan	  	16
	 	 	 (b)
	  	Right to Amend or Terminate the Plan	  	16
	 	 	 (c)
	  	Effect of Amendment or Termination	  	17
			
	 Section 16.
	 	 EXECUTION.
	  	17

  

 -iii- 

 SYNNEX CORPORATION 
  
 2003 STOCK INCENTIVE PLAN 
  
 SECTION 1. ESTABLISHMENT AND PURPOSE. 
  
 The Plan was adopted by the Board of Directors on October 1, 2003, effective as of the date of the initial offering of Stock to the public pursuant to a
registration statement filed by the Company with the Securities and Exchange Commission. The purpose of the Plan is to promote the long-term success of the Company and the creation of stockholder value by (a) encouraging Employees, Outside Directors
and Consultants to focus on critical long-range objectives, (b) encouraging the attraction and retention of Employees, Outside Directors and Consultants with exceptional qualifications and (c) linking Employees, Outside Directors and Consultants
directly to stockholder interests through increased stock ownership. The Plan seeks to achieve this purpose by providing for Awards in the form of restricted shares, options (which may constitute incentive stock options or nonstatutory stock
options) or stock appreciation rights. 
  
 SECTION 2. DEFINITIONS.

  
 (a) “Affiliate” shall mean any entity
other than a Subsidiary, if the Company and/or one of more Subsidiaries own not less than 50% of such entity. 
  
 (b) “Award” shall mean any award of an Option, a SAR or a Restricted Share under the Plan. 
  
 (c) “Board of Directors” shall mean the Board of Directors
of the Company, as constituted from time to time. 
  
 (d)
“Change in Control” shall mean the occurrence of any of the following events: 
  
 (i) A change in the composition of the Board of Directors 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 of Directors 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 
  
 (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 Exchange Act), 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 
  

 1 

 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 (d)(i) above, the term
“look-back” date shall mean the later of (1) October 1, 2003 or (2) the date 24 months prior to the date of the event that may constitute a Change in Control. 
  
 For purposes of subsection (d)(ii)) above, the term “person” shall have the same meaning as when used in Sections
13(d) and 14(d) of the Exchange Act 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 and (2) a corporation owned directly or indirectly by the
stockholders of the Company in substantially the same proportions as their ownership of the Stock. 
  
 Any other provision of this Section 2(d) notwithstanding, a transaction shall not constitute a Change in 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 in 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 Stock to the public. 
  
 (e) “Code” shall mean the Internal Revenue Code of 1986, as amended. 
  
 (f) “Committee” shall mean the Compensation Committee as
designated by the Board of Directors, which is authorized to administer the Plan, as described in Section 3 hereof. 
  
 (g) “Company” shall mean SYNNEX Corporation. 
  
 (h) “Consultant” shall mean a consultant or advisor who provides bona fide services to the Company, a Parent, a Subsidiary or an
Affiliate as an independent contractor or a member of the board of directors of a Parent or a Subsidiary who is not an Employee. Service as a Consultant shall be considered Service for all purposes of the Plan. 
  

 2 

 (i) “Disability” shall mean that the Optionee is unable to engage in any substantial
gainful activity by reason of any medically determinable physical or mental impairment. 
  
 (j) “Employee” shall mean any individual who is a common-law employee of the Company, a Parent or a Subsidiary. 
  

(k) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 
  
 (l) “Exercise Price” shall mean, in the case of an Option,
the amount for which one Common Share may be purchased upon exercise of such Option, as specified in the applicable Stock Option Agreement. “Exercise Price,” in the case of a SAR, shall mean an amount, as specified in the applicable SAR
Agreement, which is subtracted from the Fair Market Value of one Common Share in determining the amount payable upon exercise of such SAR. 
  
 (m) “Fair Market Value” with respect to a Share, shall mean the market price of one Share of Stock, determined by the Committee as
follows: 
  
 (i) If the Stock was traded
over-the-counter on the date in question but was not traded on The Nasdaq Stock Market, then the Fair Market Value shall be equal to the last transaction price quoted for such date by the OTC Bulletin Board or, if not so quoted, shall be equal to
the mean between the last reported representative bid and asked prices quoted for such date by the principal automated inter-dealer quotation system on which the Stock is quoted or, if the Stock is not quoted on any such system, by the “Pink
Sheets” published by the National Quotation Bureau, Inc.; 
  
 (ii) If the Stock was traded on The Nasdaq Stock Market, then the Fair Market Value shall be equal to the last reported sale price quoted for such date by The Nasdaq Stock Market; 
  
 (iii) If the Stock was traded on a United States stock
exchange on the date in question, then the Fair Market Value shall be equal to the closing price reported for such date by the applicable composite-transactions report; and 
  
 (iv) If none of the foregoing provisions is applicable, then the Fair Market Value shall be determined by
the Committee in good faith on such basis as it deems appropriate. 
  
 In all
cases, the determination of Fair Market Value by the Committee shall be conclusive and binding on all persons. 
  
 (n) “ISO” shall mean an employee incentive stock option described in Section 422 of the Code. 
  
 (o) “Misconduct” shall mean the commission of any act of
fraud, embezzlement or dishonesty by the Participant, any unauthorized use or disclosure by the Participant of confidential information or trade secrets of the Company (or any Parent or Subsidiary), or any other intentional misconduct by the
Participant adversely affecting the business or affairs of the Company (or any Parent or Subsidiary) in a material manner. The foregoing definition shall not be deemed to be inclusive of all the acts or omissions which the Company (or any Parent or

  

 3 

 Subsidiary) may consider as grounds for the dismissal or discharge of the Participant or any other individual in the
Service of the Company (or any Parent or Subsidiary). 
  
 (p)
“Nonstatutory Option” or “NSO” shall mean an employee stock option that is not an ISO. 
  
 (q) “Offeree” shall mean an individual to whom the Committee has offered the right to acquire Shares under the Plan (other than upon
exercise of an Option). 
  
 (r) “Option” shall
mean an ISO or Nonstatutory Option granted under the Plan and entitling the holder to purchase Shares. 
  
 (s) “Optionee” shall mean an individual or estate who holds an Option or SAR. 
  
 (t) “Outside Director” shall mean a member of the Board of
Directors who is not a common-law employee of the Company, a Parent or a Subsidiary. Service as an Outside Director shall be considered Service for all purposes of the Plan, except as provided in the second sentence of Section 4(a). 
  
 (u) “Parent” shall mean any corporation (other than the
Company) in an unbroken chain of corporations ending with the Company, if each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations
in such chain. A corporation that attains the status of a Parent on a date after the adoption of the Plan shall be a Parent commencing as of such date. 
  
 (v) “Participant” shall mean an individual or estate who holds an Award. 
  
 (w) “Plan” shall mean this 2003 Stock Incentive Plan of SYNNEX CORPORATION, as amended from
time to time. 
  
 (x) “Purchase Price” shall mean
the consideration for which one Share may be acquired under the Plan (other than upon exercise of an Option), as specified by the Committee. 
  
 (y) “Restricted Share” shall mean a Share awarded under the Plan. 
  
 (z) “Restricted Share Agreement “ shall mean the agreement between the Company and the recipient of a
Restricted Share which contains the terms, conditions and restrictions pertaining to such Restricted Shares. 
  
 (aa) “SAR” shall mean a stock appreciation right granted under the Plan. 
  
 (bb) “SAR Agreement” shall mean the agreement between the Company and an Optionee which contains the terms,
conditions and restrictions pertaining to his or her SAR. 
  
 (cc)
“Service” shall mean service as an Employee, Consultant or Outside Director. 
  
 (dd) “Share” shall mean one share of Stock, as adjusted in accordance with Section 8 (if applicable). 
  
 (ee) “Stock” shall mean the Common Stock of the Company. 
  

 4 

 (ff) “Stock Option Agreement” shall mean the agreement between the Company and an
Optionee that contains the terms, conditions and restrictions pertaining to his Option. 
  
 (gg) “Subsidiary” shall mean any corporation, if the Company and/or one or more other Subsidiaries own not less than 50% of the total combined voting power of all classes of outstanding stock of such
corporation. A corporation that attains the status of a Subsidiary on a date after the adoption of the Plan shall be considered a Subsidiary commencing as of such date. 
  
 SECTION 3. ADMINISTRATION. 
  
 (a) Committee Composition. The Plan shall be administered by the Committee. The Committee shall consist of two or more directors of the Company,
who shall be appointed by the Board. In addition, the composition of the Committee shall satisfy 
  
 (i) such requirements as the Securities and Exchange Commission may establish for administrators acting under plans intended to qualify
for exemption under Rule 16b-3 (or its successor) under the Exchange Act; and 
  
 (ii) such requirements as the Internal Revenue Service may establish for outside directors acting under plans intended to qualify for exemption under Section 162(m)(4)(C) of the Code. 
  
 (b) Committee for Non-Officer Grants. The Board may also appoint one
or more separate committees of the Board, each composed of one or more directors of the Company who need not satisfy the requirements of Section 3(a), who may administer the Plan with respect to Employees who are not considered officers or directors
of the Company under Section 16 of the Exchange Act, may grant Awards under the Plan to such Employees and may determine all terms of such grants. Within the limitations of the preceding sentence, any reference in the Plan to the Committee shall
include such committee or committees appointed pursuant to the preceding sentence. The Board of Directors may also authorize one or more officers of the Company to designate Employees, other than officers under Section 16 of the Exchange Act, to
receive Awards and/or to determine the number of such Awards to be received by such persons; provided, however, that the Board of Directors shall specify the total number of Awards that such officers may so award. 
  
 (c) Committee Procedures. The Board of Directors shall designate one
of the members of the Committee as chairman. The Committee may hold meetings at such times and places as it shall determine. The acts of a majority of the Committee members present at meetings at which a quorum exists, or acts reduced to or approved
in writing by all Committee members, shall be valid acts of the Committee. 
  
 (d) Committee Responsibilities. Subject to the provisions of the Plan, the Committee shall have full authority and discretion to take the following actions: 
  
 (i) To interpret the Plan and to apply its provisions;

  
 (ii) To adopt, amend or rescind rules,
procedures and forms relating to the Plan; 
  

 5 

 (iii) To authorize any person to execute, on behalf of the Company, any instrument
required to carry out the purposes of the Plan; 
  
 (iv) To determine when Shares are to be awarded or offered for sale and when Options are to be granted under the Plan; 
  
 (v) To select the Offerees and Optionees; 
  
 (vi) To determine the number of Shares to be offered to each Offeree or to be made subject to each Option; 
  
 (vii) To prescribe the terms and conditions of each award or
sale of Shares, including (without limitation) the Purchase Price, the vesting of the award (including accelerating the vesting of awards, either at the time of the award or sale or thereafter, without the consent of the Offeree or Optionee) and to
specify the provisions of the Restricted Stock Agreement relating to such award or sale; 
  
 (viii) To prescribe the terms and conditions of each Option, including (without limitation) the Exercise Price, the vesting or duration of
the Option (including accelerating the vesting of the Option), to determine whether such Option is to be classified as an ISO or as a Nonstatutory Option, and to specify the provisions of the Stock Option Agreement relating to such Option;

  
 (ix) To amend any outstanding Restricted
Stock Agreement or Stock Option Agreement, subject to applicable legal restrictions and to the consent of the Offeree or Optionee who entered into such agreement if the Offeree’s or Optionee’s rights or obligations would be adversely
affected; 
  
 (x) To prescribe the consideration
for the grant of each Option or other right under the Plan and to determine the sufficiency of such consideration; 
  
 (xi) To determine the disposition of each Option or other right under the Plan in the event of an Optionee’s or Offeree’s
divorce or dissolution of marriage; 
  
 (xii) To
determine whether Options or other rights under the Plan will be granted in replacement of other grants under an incentive or other compensation plan of an acquired business; 
  
 (xiii) To correct any defect, supply any omission, or reconcile any inconsistency in the Plan, any Stock
Option Agreement or any Restricted Stock Agreement; and 
  
 (xiv) To take any other actions deemed necessary or advisable for the administration of the Plan. 
  
 Subject to the requirements of applicable law, the Committee may designate persons other than members of the Committee to carry out its responsibilities
and may prescribe such conditions and limitations as it may deem appropriate, except that the Committee may not delegate its authority with regard to the selection for participation of or the granting of Options or other rights under the Plan to
persons subject to Section 16 of the Exchange Act. All decisions, 
  

 6 

 interpretations and other actions of the Committee shall be final and binding on all Offerees, all Optionees, and all
persons deriving their rights from an Offeree or Optionee. No member of the Committee shall be liable for any action that he has taken or has failed to take in good faith with respect to the Plan, any Option, or any right to acquire Shares under the
Plan. 
  
 SECTION 4. ELIGIBILITY. 
  
 (a) General Rule. Only Employees shall be eligible for the grant of
ISOs. Only Employees, Consultants and Outside Directors shall be eligible for the grant of Restricted Shares, Nonstatutory Options or SARs. 
  
 (b) Automatic Grants to Outside Directors. 
  
 (i) Each Outside Director who first joins the Board of Directors after the effective date of the Plan, and who was not previously an
Employee, shall receive a Nonstatutory Option, subject to approval of the Plan by the Company’s stockholders, to purchase 50,000 Shares (subject to adjustment under Section 10) on the first business day after his or her election to the Board of
Directors. 
  
 (ii) On the first business day
following the conclusion of each regular annual meeting of the Company’s stockholders after such Outside Director’s appointment or election to the Board of Directors, commencing with the annual meeting occurring after the adoption of the
Plan, each Outside Director who will continue serving as a member of the Board of Directors thereafter shall receive an Option to purchase 10,000 Shares, subject to adjustment under Section 10, provided such Outside Director has served on the Board
of Directors for at least six months. 
  
 (iii)
The Exercise Price of all Nonstatutory Options granted to an Outside Director under this Section 4(b) shall be equal to 100% of the Fair Market Value of a Share on the date of grant, payable in one of the forms described in Section 8(a), (b) or (d).

  
 (iv) Twenty percent (20%) of the Shares
subject to each Option granted under this Section 4(b) shall vest and become exercisable on the first anniversary of the date of grant. The balance of the Shares subject to each Option (i.e. the remaining eighty percent (80%)) granted under
this Section 4(b) shall vest and become exercisable monthly over a four-year period beginning on the day which is one month after the first anniversary of the date of grant, at a monthly rate of 1.666% of the total number of Shares subject to such
Options. 
  
 (v) Subject to Sections 4(b)(vi) and
(vii), all Nonstatutory Options granted to an Outside Director under this Section 4(e) shall terminate on the day before the tenth anniversary of the date of grant of such Options. 
  
 (vi) If an Outside Director’s Service terminates for any reason, then his or her Options granted under
this Section 4(b) shall expire on the earliest of the following occasions: 
  
 (A) The expiration date determined pursuant to Section 4(b)(v) above; 
  

 7 

 (B) The date 12 months after the termination of the Outside Director’s Service, if
the termination occurs because of his or her death or Disability; 
  
 (C) The date of the Outside Director’s termination of Service, if the termination occurs by reason of his or her Misconduct; or 
  
 (D) The date three months after the termination of the Outside Director’s Service, if the termination
occurs for any reason other than death, Disability or Misconduct. 
  
 The Outside Director may exercise all or part of his or her Options at any time before the expiration of such Options under the preceding sentence, but only to the extent that such Options had become vested before his or her Service
terminated. The balance of such Options shall lapse when the Outside Director’s Service terminates. 
  
 (vii) In the event that the Outside Director dies after the termination of his or her Service but before the expiration of his or her
Options granted under this Section 4(b), then his or her Options shall expire on the earlier of the following dates: 
  
 (A) The expiration date determined pursuant to Section 4(b)(v) above; or 
  
 (B) The date 12 months after his or her death. 
  
 (c) Ten-Percent Stockholders. An Employee who owns more than 10% of
the total combined voting power of all classes of outstanding stock of the Company, a Parent or Subsidiary shall not be eligible for the grant of an ISO unless such grant satisfies the requirements of Section 422(c)(5) of the Code. 
  
 (d) Attribution Rules. For purposes of Section 4(c) above, in
determining stock ownership, an Employee shall be deemed to own the stock owned, directly or indirectly, by or for such Employee’s brothers, sisters, spouse, ancestors and lineal descendants. Stock owned, directly or indirectly, by or for a
corporation, partnership, estate or trust shall be deemed to be owned proportionately by or for its stockholders, partners or beneficiaries. 
  
 (e) Outstanding Stock. For purposes of Section 4(c) above, “outstanding stock” shall include all stock actually issued and outstanding
immediately after the grant. “Outstanding stock” shall not include shares authorized for issuance under outstanding options held by the Employee or by any other person. 
  
 SECTION 5. STOCK SUBJECT TO PLAN. 
  
 (a) Basic Limitation. Shares offered under the Plan shall be authorized but unissued Shares or treasury Shares. Subject to Section 5(b) below, the
maximum aggregate number of Options, SARs and Restricted Shares awarded under the Plan shall not exceed the sum of (i) the number of Shares subject to outstanding options granted under the Company’s 1997 Stock Option/Stock Issuance Plan,
Special Executive Stock Option/Stock Issuance Plan and 1993 Stock Option Plan (the “Predecessor Plans”), as of the effective date of the Plan, to the extent those options expire, terminate or are cancelled for any reason prior to exercise
in full, plus (ii) 
  

 8 

 11,013,298 Shares; provided, however, that such sum shall not exceed 28,223,522 Shares. The limitations of this Section
5(a) shall be subject to adjustment pursuant to Section 10. The number of Shares that are subject to Options or other rights outstanding at any time under the Plan shall not exceed the number of Shares which then remain available for issuance under
the Plan. The Company, during the term of the Plan, shall at all times reserve and keep available sufficient Shares to satisfy the requirements of the Plan. 
  
 (b) Additional Shares. If Restricted Shares or Shares issued upon the exercise of Options are forfeited, then such Shares shall again become
available for Awards under the Plan. If Options or SARs are forfeited or terminate for any other reason before being exercised, then the corresponding Shares shall again become available for Awards under the Plan. If SARs are exercised, then only
the number of Shares (if any) actually issued in settlement of such SARs shall reduce the number available in Section 5(a) and the balance shall again become available for Awards under the Plan. 
  
 SECTION 6. RESTRICTED SHARES 
  
 (a) Restricted Stock Agreement. Each grant of Restricted Shares under
the Plan shall be evidenced by a Restricted Stock Agreement between the recipient and the Company. Such Restricted Shares shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the
Plan. The provisions of the various Restricted Stock Agreements entered into under the Plan need not be identical. 
  
 (b) Payment for Awards. Subject to the following sentence, Restricted Shares may be sold or awarded under the Plan for such consideration as the
Committee may determine, including (without limitation) cash, cash equivalents, full-recourse promissory notes, past services and future services. To the extent that an Award consists of newly issued Restricted Shares, the Award recipient shall
furnish consideration with a value not less than the par value of such Restricted Shares in the form of cash, cash equivalents, or past services rendered to the Company (or a Parent or Subsidiary), as the Committee may determine. 
  
 (c) Vesting. Each Award of Restricted Shares may or may not be subject
to vesting. Vesting shall occur, in full or in installments, upon satisfaction of the conditions specified in the Restricted Stock Agreement. A Restricted Stock Agreement may provide for accelerated vesting in the event of the Participant’s
death, disability or retirement or other events. The Committee may determine, at the time of granting Restricted Shares of thereafter, that all or part of such Restricted Shares shall become vested in the event that a Change in Control occurs with
respect to the Company. 
  
 (d) Voting and Dividend Rights.
The holders of Restricted Shares awarded under the Plan shall have the same voting, dividend and other rights as the Company’s other stockholders. A Restricted Stock Agreement, however, may require that the holders of Restricted Shares invest
any cash dividends received in additional Restricted Shares. Such additional Restricted Shares shall be subject to the same conditions and restrictions as the Award with respect to which the dividends were paid. 
  
 (e) Restrictions on Transfer of Shares. Restricted Shares shall be
subject to such rights of repurchase, rights of first refusal or other restrictions as the Committee may determine. 
  

 9 

 Such restrictions shall be set forth in the applicable Restricted Stock Agreement and shall apply in addition to any
general restrictions that may apply to all holders of Shares. 
  
 SECTION 7.
TERMS AND CONDITIONS OF OPTIONS. 
  
 (a) Stock Option
Agreement. Each grant of an Option under the Plan shall be evidenced by a Stock Option Agreement between the Optionee and the Company. Such Option shall be subject to all applicable terms and conditions of the Plan and may be subject to any
other terms and conditions which are not inconsistent with the Plan and which the Committee deems appropriate for inclusion in a Stock Option Agreement. The Stock Option Agreement shall specify whether the Option is an ISO or an NSO. The provisions
of the various Stock Option Agreements entered into under the Plan need not be identical. Options may be granted in consideration of a reduction in the Optionee’s other compensation. 
  
 (b) Number of Shares. Each Stock Option Agreement shall specify the number of Shares that are subject to the Option
and shall provide for the adjustment of such number in accordance with Section 10. Options granted to an Optionee in a single calendar year of the Company shall not cover more than 3,000,000 Shares, except that Options granted to a new Employee or
Consultant in the calendar year of the Company in which his or her Service first commences shall not cover more than 5,000,000 Shares (in each case subject to adjustment in accordance with Section 10). 
  
 (c) Exercise Price. Each Stock Option Agreement shall specify the
Exercise Price. The Exercise Price of an ISO shall not be less than 100% of the Fair Market Value of a Share on the date of grant, except as otherwise provided in Section 4(c), and the Exercise Price of an NSO shall not be less 85% of the Fair
Market Value of a Share on the date of grant. Notwithstanding the foregoing, a Stock Option Agreement may specify that the exercise price of an NSO may vary in accordance with a predetermined formula. Subject to the foregoing in this Section 7(c),
the Exercise Price under any Option shall be determined by the Committee at its sole discretion. The Exercise Price shall be payable in one of the forms described in Section 8. 
  
 (d) Withholding Taxes. As a condition to the exercise of an Option, the Optionee shall make such arrangements as the
Committee may require for the satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with such exercise. The Optionee shall also make such arrangements as the Committee may require for the
satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with the disposition of Shares acquired by exercising an Option. 
  
 (e) Exercisability and Term. Each Stock Option Agreement shall specify the date when all or any installment of the
Option is to become exercisable. The Stock Option Agreement shall also specify the term of the Option; provided that the term of an ISO shall in no event exceed 10 years from the date of grant (five years for Employees described in Section 4(c)). A
Stock Option Agreement may provide for accelerated exercisability in the event of the Optionee’s death, disability, or retirement or other events and may provide for expiration prior to the end of its term in the event of the termination of the
Optionee’s Service. Options may be awarded in combination with SARs, and such an Award may provide that the Options will not be exercisable unless the related SARs are forfeited. Subject to the foregoing in this Section 7(e), 
  

 10 

 the Committee at its sole discretion shall determine when all or any installment of an Option is to become exercisable
and when an Option is to expire. 
  
 (f) Exercise of Options
Upon Termination of Service. Each Stock Option Agreement shall set forth the extent to which the Optionee shall have the right to exercise the Option following termination of the Optionee’s Service with the Company and its Subsidiaries, and
the right to exercise the Option of any executors or administrators of the Optionee’s estate or any person who has acquired such Option(s) directly from the Optionee by bequest or inheritance. Such provisions shall be determined in the sole
discretion of the Committee, need not be uniform among all Options issued pursuant to the Plan, and may reflect distinctions based on the reasons for termination of Service. 
  
 (g) Effect of Change in Control. The Committee may determine, at the time of granting an Option or thereafter, that
such Option shall become exercisable as to all or part of the Shares subject to such Option in the event that a Change in Control occurs with respect to the Company. 
  
 (h) Leaves of Absence. An Employee’s Service shall cease when such Employee ceases to be actively employed by,
or a Consultant to, the Company (or any subsidiary) as determined in the sole discretion of the Board of Directors. For purposes of Options, Service does not terminate when an Employee goes on a bona fide leave of absence, that was approved by the
Company in writing, if the terms of the leave provide for continued service crediting, or when continued service crediting is required by applicable law. However, for purposes of determining whether an Option is entitled to ISO status, an
Employee’s Service will be treated as terminating 90 days after such Employee went on leave, unless such Employee’s right to return to active work is guaranteed by law or by a contract. Service terminates in any event when the approved
leave ends, unless such Employee immediately returns to active work. The Company determines which leaves count toward Service, and when Service terminates for all purposes under the Plan. 
  
 (i) No Rights as a Stockholder. An Optionee, or a transferee of an Optionee, shall have no rights as a stockholder
with respect to any Shares covered by his Option until the date of the issuance of a stock certificate for such Shares. No adjustments shall be made, except as provided in Section 10. 
  
 (j) Modification, Extension and Renewal of Options. Within the limitations of the Plan, the Committee may modify,
extend or renew outstanding options or may accept the cancellation of outstanding options (to the extent not previously exercised), whether or not granted hereunder, in return for the grant of new Options for the same or a different number of Shares
and at the same or a different exercise price, or in return for the grant of the same or a different number of Shares. The foregoing notwithstanding, no modification of an Option shall, without the consent of the Optionee, adversely affect his or
her rights or obligations under such Option. 
  
 (k)
Restrictions on Transfer of Shares. Any Shares issued upon exercise of an Option shall be subject to such special forfeiture conditions, rights of repurchase, rights of first refusal and other transfer restrictions as the Committee may
determine. Such restrictions shall be set forth in the applicable Stock Option Agreement and shall apply in addition to any general restrictions that may apply to all holders of Shares. 
  

 11 

 (l) Buyout Provisions. The Committee may at any time (a) offer to buy out for a payment in cash or
cash equivalents an Option previously granted or (b) authorize an Optionee to elect to cash out an Option previously granted, in either case at such time and based upon such terms and conditions as the Committee shall establish. 
  
 SECTION 8. PAYMENT FOR SHARES. 
  
 (a) General Rule. The entire Exercise Price or Purchase Price of
Shares issued under the Plan shall be payable in lawful money of the United States of America at the time when such Shares are purchased, except as provided in Section 8(b) through Section 8(g) below. 
  
 (b) Surrender of Stock. To the extent that a Stock Option Agreement so
provides, payment may be made all or in part by surrendering, or attesting to the ownership of, Shares which have already been owned by the Optionee or his representative. Such Shares shall be valued at their Fair Market Value on the date when the
new Shares are purchased under the Plan. The Optionee shall not surrender, or attest to the ownership of, Shares in payment of the Exercise Price if such action would cause the Company to recognize compensation expense (or additional compensation
expense) with respect to the Option for financial reporting purposes. 
  
 (c) Services Rendered. At the discretion of the Committee, Shares may be awarded under the Plan in consideration of services rendered to the Company or a Subsidiary prior to the award. If Shares are awarded without the payment of a
Purchase Price in cash, the Committee shall make a determination (at the time of the award) of the value of the services rendered by the Offeree and the sufficiency of the consideration to meet the requirements of Section 6(b). 
  
 (d) Cashless Exercise. To the extent that a Stock Option Agreement so
provides, payment may be made all or in part by delivery (on a form prescribed by the Committee) of an irrevocable direction to a securities broker to sell Shares and to deliver all or part of the sale proceeds to the Company in payment of the
aggregate Exercise Price. 
  
 (e) Exercise/Pledge. To the
extent that a Stock Option Agreement so provides, payment may be made all or in part by delivery (on a form prescribed by the Committee) of an irrevocable direction to a securities broker or lender to pledge Shares, as security for a loan, and to
deliver all or part of the loan proceeds to the Company in payment of the aggregate Exercise Price. 
  
 (f) Promissory Note. To the extent that a Stock Option Agreement or Restricted Stock Agreement so provides, payment may be made all or in part by
delivering (on a form prescribed by the Company) a full-recourse promissory note. However, the par value of the Common Shares being purchased under the Plan, if newly issued, shall be paid in cash or cash equivalents. 
  
 (g) Other Forms of Payment. To the extent that a Stock Option
Agreement or Restricted Stock Agreement so provides, payment may be made in any other form that is consistent with applicable laws, regulations and rules. 
  
 (h) Limitations under Applicable Law. Notwithstanding anything herein or in a Stock Option Agreement or Restricted Stock Agreement to the contrary,
payment may not be made in any form that is unlawful, as determined by the Committee in its sole discretion. 
  

 12 

 SECTION 9. STOCK APPRECIATION RIGHTS. 
  
 (a) SAR Agreement. Each grant of a SAR under the Plan shall be evidenced by a SAR Agreement between the Optionee and
the Company. Such SAR shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The provisions of the various SAR Agreements entered into under the Plan need not be identical.
SARs may be granted in consideration of a reduction in the Optionee’s other compensation. 
  
 (b) Number of Shares. Each SAR Agreement shall specify the number of Shares to which the SAR pertains and shall provide for the adjustment of such number in accordance with Section 10. SARs granted to any
Optionee in a single calendar year shall in no event pertain to more than 3,000,000 Shares, except that SARs granted to a new Employee or Consultant in the calendar year of the Company in which his or her Service first commences shall not pertain to
more than 5,000,000 Shares. The limitations set forth in the preceding sentence shall be subject to adjustment in
accordance with Section 10. 
  
 (c) Exercise Price. Each
SAR Agreement shall specify the Exercise Price. A SAR Agreement may specify an Exercise Price that varies in accordance with a predetermined formula while the SAR is outstanding. 
  
 (d) Exercisability and Term. Each SAR Agreement shall specify the date when all or any installment of the SAR is to
become exercisable. The SAR Agreement shall also specify the term of the SAR. A SAR Agreement may provide for accelerated exercisability in the event of the Optionee’s death, disability or retirement or other events and may provide for
expiration prior to the end of its term in the event of the termination of the Optionee’s service. SARs may be awarded in combination with Options, and such an Award may provide that the SARs will not be exercisable unless the related Options
are forfeited. A SAR may be included in an ISO only at the time of grant but may be included in an NSO at the time of grant or thereafter. A SAR granted under the Plan may provide that it will be exercisable only in the event of a Change in Control. 
  
 (e) Effect of Change in
Control. The Committee may determine, at the time of granting a SAR or thereafter, that such SAR shall become fully exercisable as to all Common Shares subject to such SAR in the event that a Change in Control occurs with respect to the Company.

  
 (f) Exercise of SARs. Upon exercise of a SAR, the
Optionee (or any person having the right to exercise the SAR after his or her death) shall receive from the Company (a) Shares, (b) cash or (c) a combination of Shares and cash, as the Committee shall determine. The amount of cash and/or the Fair
Market Value of Shares received upon exercise of SARs shall, in the aggregate, be equal to the amount by which the Fair Market Value (on the date of surrender) of the Shares subject to the SARs exceeds the Exercise Price.  
  
 (g) Modification or Assumption of SARs. Within the limitations of the Plan, the Committee may modify, extend or assume outstanding SARs or may
accept the cancellation of outstanding SARs (whether granted by the Company or by another issuer) in return for the grant of new SARs for the same or a different number of shares and at the same or a different exercise 
  

 13 

 price. The foregoing notwithstanding, no modification of a SAR shall, without the consent of the holder, may alter or
impair his or her rights or obligations under such SAR. 
  
 Section 10.
ADJUSTMENT OF SHARES. 
  
 (a) Adjustments. In the
event of a subdivision of the outstanding Stock, a declaration of a dividend payable in Shares, a declaration of a dividend payable in a form other than Shares in an amount that has a material effect on the price of Shares, a combination or
consolidation of the outstanding Stock (by reclassification or otherwise) into a lesser number of Shares, a recapitalization, a spin-off or a similar occurrence, the Committee shall make such adjustments as it, in its sole discretion, deems
appropriate in one or more of: 
  
 (i) The number
of Options, SARs and Restricted Shares available for future Awards under Section 5; 
  
 (ii) The limitations set forth in Section 5(a), Section 7(b) and Section 9(b); 
  
 (iii) The number of NSOs to be granted to Outside Directors
under Section 4(b); 
  
 (iv) The number of Shares
covered by each outstanding Option and SAR; or 
  
 (v) The Exercise Price under each outstanding Option and SAR. 
  
 Except
as provided in this Section 10, a Participant shall have no rights by reason of any issue by the Company of stock of any class or securities convertible into stock of any class, any subdivision or consolidation of shares of stock of any class, the
payment of any stock dividend or any other increase or decrease in the number of shares of stock of any class. 
  
 (b) Dissolution or Liquidation. To the extent not previously exercised or settled, Options and SARs shall terminate immediately prior to the
dissolution or liquidation of the Company. 
  
 (c)
Reorganizations. In the event that the Company is a party to a merger or other reorganization, outstanding Awards shall be subject to the agreement of merger or reorganization. Such agreement shall provide for: 
  
 (i) The continuation of the outstanding Awards by the
Company, if the Company is a surviving corporation; 
  
 (ii) The assumption of the outstanding Awards by the surviving corporation or its parent or subsidiary; 
  
 (iii) The substitution by the surviving corporation or its parent or subsidiary of its own awards for the outstanding Awards; 

 
 (iv) Full exercisability or vesting and accelerated
expiration of the outstanding Awards; or 
  

 14 

 (v) Settlement of the full value of the outstanding Awards in cash or cash equivalents
followed by cancellation of such Awards. 
  
 (d) Reservation of
Rights. Except as provided in this Section 10, an Optionee or Offeree shall have no rights by reason of any subdivision or consolidation of shares of stock of any class, the payment of any dividend or any other increase or decrease in the number
of shares of stock of any class. Any issue by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number
or Exercise Price of Shares subject to an Option. The grant of an Option pursuant to the Plan shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business
structure, to merge or consolidate or to dissolve, liquidate, sell or transfer all or any part of its business or assets. 
  
 SECTION 11. LEGAL AND REGULATORY REQUIREMENTS. 
  
 Shares shall not be issued under the Plan unless the issuance and delivery of such Shares complies with (or is exempt from) all applicable requirements of
law, including (without limitation) the Securities Act of 1933, as amended, the rules and regulations promulgated thereunder, state securities laws and regulations and the regulations of any stock exchange on which the Company’s securities may
then be listed, and the Company has obtained the approval or favorable ruling from any governmental agency which the Company determines is necessary or advisable. 
  
 SECTION 12. WITHHOLDING TAXES. 
  
 (a) General. To the extent required by applicable federal, state, local or foreign law, a Participant or his or her successor shall make
arrangements satisfactory to the Company for the satisfaction of any withholding tax obligations that arise in connection with the Plan. The Company shall not be required to issue any Shares or make any cash payment under the Plan until such
obligations are satisfied. 
  
 (b) Share Withholding. The
Committee may permit a Participant to satisfy all or part of his or her withholding or income tax obligations by having the Company withhold all or a portion of any Shares that otherwise would be issued to him or her or by surrendering all or a
portion of any Shares that he or she previously acquired. Such Shares shall be valued at their Fair Market Value on the date when taxes otherwise would be withheld in cash. In no event may a Participant have Shares withheld that would otherwise be
issued to him or her in excess of the number necessary to satisfy the legally required minimum tax withholding. 
  
 SECTION 13. LIMITATION ON PARACHUTE PAYMENTS. 
  
 (a) Scope of Limitation. This Section 13 shall apply to an Award only if the independent auditors most recently selected by the Board (the
“Auditors”) determine that the after-tax value of such Award to the Optionee or Offeree, taking into account the effect of all federal, state and local income taxes, employment taxes and excise taxes applicable to the Optionee or Offeree
(including the excise tax under section 4999 of the Code), will be greater after the application of this Section 13 than it was before application of this Section 13. Basic Rule. In the event that the Auditors determine that any payment or
transfer by the Company 
  

 15 

 under the Plan to or for the benefit of a Participant (a “Payment”) would be nondeductible by the Company for
federal income tax purposes because of the provisions concerning “excess parachute payments” in Section 280G of the Code, then the aggregate present value of all Payments shall be reduced (but not below zero) to the Reduced Amount. For
purposes of this Section 13, the “Reduced Amount” shall be the amount, expressed as a present value, which maximizes the aggregate present value of the Payments without causing any Payment to be nondeductible by the Company because of
Section 280G of the Code. 
  
 (c) Reduction of Payments. If
the Auditors determine that any Payment would be nondeductible by the Company because of Section 280G of the Code, then the Company shall promptly give the Participant notice to that effect and a copy of the detailed calculation thereof and of the
Reduced Amount, and the Participant may then elect, in his or her sole discretion, which and how much of the Payments shall be eliminated or reduced (as long as after such election the aggregate present value of the Payments equals the Reduced
Amount) and shall advise the Company in writing of his or her election within 10 days of receipt of notice. If no such election is made by the Participant within such 10-day period, then the Company may elect which and how much of the Payments shall
be eliminated or reduced (as long as after such election the aggregate present value of the Payments equals the Reduced Amount) and shall notify the Participant promptly of such election. For purposes of this Section 13, present value shall be
determined in accordance with Section 280G(d)(4) of the Code. All determinations made by the Auditors under this Section 13 shall be binding upon the Company and the Participant and shall be made within 60 days of the date when a Payment becomes
payable or transferable. As promptly as practicable following such determination and the elections hereunder, the Company shall pay or transfer to or for the benefit of the Participant such amounts as are then due to him or her under the Plan and
shall promptly pay or transfer to or for the benefit of the Participant in the future such amounts as become due to him or her under the Plan. 
  
 (d) Related Corporations. For purposes of this Section 13, the term “Company” shall include affiliated corporations to the extent
determined by the Auditors in accordance with Section 280G(d)(5) of the Code. 
  
 SECTION 14. NO EMPLOYMENT RIGHTS. 
  
 No
provision of the Plan, nor any right or Option granted under the Plan, shall be construed to give any person any right to become, to be treated as, or to remain an Employee. The Company and its Subsidiaries reserve the right to terminate any
person’s Service at any time and for any reason, with or without notice. 
  
 SECTION 15. DURATION AND AMENDMENTS. 
  
 (a)
Term of the Plan. The Plan, as set forth herein, shall terminate automatically on September 30, 2013, and may be terminated on any earlier date pursuant to Subsection (b) below. 
  
 (b) Right to Amend or Terminate the Plan. The Board of Directors may amend the Plan at any time and from time to
time. Rights and obligations under any Option granted before amendment of the Plan shall not be materially impaired by such amendment, except with consent of the person to whom the Option was granted. An amendment of the Plan shall be subject to the

  

 16 

 approval of the Company’s stockholders only to the extent required by applicable laws, regulations or rules.

  
 (c) Effect of Amendment or Termination. No Shares shall
be issued or sold under the Plan after the termination thereof, except upon exercise of an Option granted prior to such termination. The termination of the Plan, or any amendment thereof, shall not affect any Share previously issued or any Option
previously granted under the Plan. 
  
 SECTION 16. EXECUTION. 

 
 To record the adoption of the Plan by the Board of Directors effective as
of October 1, 2003, the Company has caused its authorized officer to execute the same. 
  

	SYNNEX CORPORATION
		
	By	 	 
	 	

	 	 	 Robert Huang
 President and Chief Executive Officer

  

 17 

 SYNNEX CORPORATION 
  
 2003 STOCK INCENTIVE PLAN 
  
 NOTICE OF STOCK OPTION GRANT 
  
 You have been granted the following Option to purchase Common Stock of SYNNEX
CORPORATION (the “Company”) under the Company’s 2003 Stock Incentive Plan (the “Plan”): 
  

	Name of Optionee:	 	[Name of Optionee]
		
	Total Number of Option Shares Granted:	 	[Total Number of Shares]
		
	Type of Option:	 	 ̈ Incentive Stock Option
		
	 	 	 ̈ Nonstatutory Stock Option
		
	Exercise Price Per Share:	 	$                
		
	Grant Date:	 	[Date of Grant]
		
	Vesting Commencement Date:	 	[Vesting Commencement Date]
		
	Vesting Schedule:	 	This Option becomes exercisable with respect to the first 12/60th of the shares subject to this Option when you complete 12 months of continuous “Service” (as defined in the Plan) from the Vesting Commencement Date. Thereafter, this Option becomes exercisable with respect to an
additional 1/60th of the shares subject to this Option when you complete each additional month of
Service.
		
	Expiration Date:	 	[Expiration Date] This Option expires earlier if your Service terminates earlier, as described in the Stock Option Agreement.

  

 1 

 By your signature and the signature of the Company’s representative below, you and the Company agree
that this Option is granted under and governed by the term and conditions of the Plan and the Stock Option Agreement, both of which are attached to and made a part of this document. 
  

	OPTIONEE:	 	 	 	 SYNNEX CORPORATION

					
	:	 	 	 	 	 	By:	 	 
	 	
	 	 	 	 	

	 	 	Optionee’s Signature	 	 	 	 	 	 
	 	 	 	 	 	 	Title:	 	 
	 	
	 	 	 	 	

	 	 	Optionee’s Printed Name	 	 	 	 	 	 

  
  

 2 

 SYNNEX CORPORATION 
 2003 STOCK INCENTIVE PLAN 
  
 STOCK OPTION AGREEMENT 
  

	 Tax Treatment
	  	This Option is intended to be an incentive stock option under Section 422 of the Internal Revenue Code or a nonstatutory option, as provided in the Notice of Stock Option Grant.
Even if this Option is designated as an incentive stock option, it shall be deemed to be an nonstatutory option to the extent required by the $100,000 annual limitation under Section 422(d) of the Internal Revenue Code.
		
	 Vesting
	  	This Option becomes exercisable in installments, as shown in the Notice of Stock Option Grant. This Option will in no event become exercisable for additional shares after your
Service has terminated for any reason.
		
	 Term
	  	This Option expires in any event at the close of business at Company headquarters on the day before the 10th anniversary of the Grant Date, as shown on the Notice of Stock Option
Grant (fifth anniversary for a more than 10% stockholder as provided under the Plan if this is an incentive stock option). This Option may expire earlier if your Service terminates, as described below.
		
	Regular
Termination	  	If your Service terminates for any reason except Misconduct, Death or Disability, then this Option will expire at the close of business at Company headquarters on the date three
(3) months after the date your Service terminates (or, if earlier, the Expiration Date). The Company has discretion to determine when your Service terminates for all purposes of the Plan and its determinations are conclusive and binding on all
persons.
		
	 Death
	  	If you die, then this Option will expire at the close of business at Company headquarters on the date 12 months after the date your Service terminates (or, if earlier, the
Expiration Date). During that period of up to 12 months, your estate or heirs may exercise the Option.
		
	 Disability
	  	If your Service terminates by reason of Disability, then this Option will expire at the close of business at Company headquarters on the date 12 months after the date your Service
terminates (or, if earlier, the Expiration Date).
		
	 Misconduct
	  	If your Service terminates for Misconduct, then this Option will expire at the close of business at Company headquarters on the date your Service terminates.

  

 3 

	 Leaves of Absence
	  	 For purposes of this Option, your Service does not terminate when you go on a military leave, a sick leave or another bona fide leave
of absence, if the leave was approved by the Company in writing and if continued crediting of Service is required by the terms of the leave or by applicable law. But your Service terminates when the approved leave ends, unless you immediately return
to active work.
  
 If you go on a leave of absence, then the vesting schedule
specified in the Notice of Stock Option Grant may be adjusted in accordance with the Company’s leave of absence policy or the terms of your leave. If you commence working on a part-time basis, then the vesting schedule specified in the Notice
of Stock Option Grant may be adjusted in accordance with the Company’s part-time work policy or the terms of an agreement between you and the Company pertaining to your part-time schedule.

		
	Restrictions on
Exercise	  	The Company will not permit you to exercise this Option if the issuance of shares at that time would violate any law or regulation. The inability of the Company to obtain approval
from any regulatory body having authority deemed by the Company to be necessary to the lawful issuance and sale of the Company stock pursuant to this Option shall relieve the Company of any liability with respect to the non-issuance or sale of the
Company stock as to which such approval shall not have been obtained. However, the Company shall use its best efforts to obtain such approval.
		
	Notice of
Exercise	  	When you wish to exercise this Option you must notify the Company by completing the attached “Notice of Exercise of Stock Option” form and filing it with the Human
Resources Department of the Company. You notice must specify how many shares you wish to purchase. Your notice must also specify how your shares should be registered. The notice will be effective when it is received by the Company. If someone else
wants to exercise this Option after your death, that person must prove to the Company’s satisfaction that he or she is entitled to do so.
		
	Form of
Payment	  	When you submit your notice of exercise, you must include payment of the Option exercise price for the shares you are purchasing. Payment may be made in the following
form(s):
		
	 	  	 ·        Your personal check, a cashier’s check or a money order.

  

 4 

	 	  	 ·        Certificates for shares of Company stock that you own, along with any forms needed to effect a transfer of those shares to the Company. The value of the shares, determined as of the effective
date of the Option exercise, will be applied to the Option exercise price. Instead of surrendering shares of Company stock, you may attest to the ownership of those shares on a form provided by the Company and have the same number of shares
subtracted from the Option shares issued to you. However, you may not surrender, or attest to the ownership of shares of Company stock in payment of the exercise price if your action would cause the Company to recognize a compensation expense (or
additional compensation expense) with respect to this Option for financial reporting purposes.

		
	 	  	 ·        By delivering on a form approved by the Committee of an irrevocable direction to a securities broker approved by the Company to sell all or part of your Option shares and to deliver to the
Company from the sale proceeds in an amount sufficient to pay the Option exercise price and any withholding taxes. The balance of the sale proceeds, if any, will be delivered to you. The directions must be given by signing a special “Notice of
Exercise” form provided by the Company.

		
	 	  	 ·        Irrevocable directions to a securities broker or lender approved by the Company to pledge Option shares as security for a loan and to deliver to the Company from the loan proceeds an amount
sufficient to pay the Option exercise price and any withholding taxes. The directions must be given by signing a special “Notice of Exercise” form provided by the Company.

		
	 	  	Notwithstanding the foregoing, payment may not be made in any form that is unlawful, as determined by the Company in its sole discretion.
		
	Withholding Taxes
and Stock
Withholding	  	You will not be allowed to exercise this Option unless you make arrangements acceptable to the Company to pay any withholding taxes that may be due as a result of the Option
exercise. These arrangements may include withholding shares of Company stock that otherwise would be issued to you when you exercise this Option. The value of these shares, determined as of the effective date of the Option exercise, will be applied
to the withholding taxes.

  

 5 

	Restrictions on
Resale	  	By signing this Agreement, you agree not to sell any Option shares at a time when applicable laws, Company policies or an agreement between the Company and its underwriters
prohibit a sale (e.g., a lock-up period after the Company goes public). This restriction will apply as long as you are an employee, consultant or director of the Company or a subsidiary of the Company.
		
	 Transfer of Option
	  	 In general, only you can exercise this Option prior to your death. You cannot transfer or assign this Option, other than as designated
by you by will or by the laws of descent and distribution, except as provided below. For instance, you may not sell this Option or use it as security for a loan. If you attempt to do any of these things, this Option will immediately become invalid.
You may in any event dispose of this Option in your will. Regardless of any marital property settlement agreement, the Company is not obligated to honor a notice of exercise from your former spouse, nor is the Company obligated to recognize your
former spouse’s interest in your Option in any other way.
  
 However, if this
Option is designated as a nonstatutory stock option in the Notice of Stock Option Grant, then the “Committee” (as defined in the Plan) may, in its sole discretion, allow you to transfer this Option as a gift to one or more family members.
For purposes of this Agreement, “family member” means a child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law or sister-in-law (including adoptive
relationships), any individual sharing your household (other than a tenant or employee), a trust in which one or more of these individuals have more than 50% of the beneficial interest, a foundation in which you or one or more of these persons
control the management of assets, and any entity in which you or one or more of these persons own more than 50% of the voting interest.
  
 In addition, if this Option is designated as a nonstatutory stock option in the Notice of Stock Option Grant, then the Committee may, in its sole discretion, allow you to
transfer this option to your spouse or former spouse pursuant to a domestic relations order in settlement of marital property rights.
  
 The Committee will allow you to transfer this Option only if both you and the transferee(s) execute the forms prescribed by the Committee, which include the consent of
the transferee(s) to be bound by this Agreement.

  

 6 

	 Retention Rights
	  	Neither your Option nor this Agreement gives you the right to be retained by the Company or a subsidiary of the Company in any capacity. The Company and its subsidiaries reserve
the right to terminate your Service at any time, with or without cause.
		
	Stockholder
Rights	  	You, or your estate or heirs, have no rights as a stockholder of the Company until you have exercised this Option by giving the required notice to the Company and paying the
exercise price. No adjustments are made for dividends or other rights if the applicable record date occurs before you exercise this Option, except as described in the Plan.
		
	 Adjustments
	  	In the event of a stock split, a stock dividend or a similar change in Company stock, the number of shares covered by this Option and the exercise price per share may be adjusted
pursuant to the Plan.
		
	 Applicable Law
	  	This Agreement will be interpreted and enforced under the laws of the State of Delaware (without regard to their choice-of-law provisions).
		
	The Plan and
Other Agreements	  	The text of the Plan is incorporated in this Agreement by reference. All capitalized terms in the Stock Option Agreement shall have the meanings assigned to them in the Plan. This
Agreement and the Plan constitute the entire understanding between you and the Company regarding this Option. Any prior agreements, commitments or negotiations concerning this Option are superseded. This Agreement may be amended only by another
written agreement, signed by both parties.

  
 BY SIGNING THE COVER
SHEET OF THIS AGREEMENT, 
 YOU AGREE TO ALL OF THE TERMS AND CONDITIONS 
 DESCRIBED ABOVE AND IN THE PLAN. 
  

 7Form of 2003 Stock Purchase Plan

 Exhibit 10.5 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 SYNNEX Corporation 
  
 2003 EMPLOYEE STOCK PURCHASE PLAN 
  
  
  
  
 (Adopted by the Board on October 1, 2003) 

 Table of Contents 
  

	 	  	Page

	 SECTION 1    Purpose Of The Plan
	  	1
		
	SECTION 2    Definitions	  	1
		
	 (a) “Accumulation Period”
	  	1
		
	 (b) “Board”
	  	1
		
	 (c) “Code”
	  	1
		
	 (d) “Committee”
	  	1
		
	 (e) “Company”
	  	1
		
	 (f) “Compensation”
	  	1
		
	 (g) “Corporate Reorganization”
	  	1
		
	 (h) “Eligible Employee”
	  	2
		
	 (i) “Exchange Act”
	  	2
		
	 (j) “Fair Market Value”
	  	2
		
	 (k) “IPO”
	  	2
		
	 (l) “Offering Period”
	  	2
		
	 (m) “Participant”
	  	2
		
	 (n) “Participating Company”
	  	3
		
	 (o) “Plan”
	  	3
		
	 (p) “Plan Account”
	  	3
		
	 (q) “Purchase Price”
	  	3
		
	 (r) “Stock”
	  	3
		
	 (s) “Subsidiary”
	  	3
		
	SECTION 3    Administration Of The Plan	  	3
		
	 (a) Committee Composition
	  	3
		
	 (b) Committee Responsibilities
	  	3
		
	 SECTION 4    Enrollment And Participation
	  	3
		
	 (a) Offering Periods
	  	3
		
	 (b) Accumulation Periods
	  	3
		
	 (c) Enrollment
	  	3
		
	 (d) Duration of Participation
	  	4
		
	 (e) Applicable Offering Period
	  	4
		
	SECTION 5    Employee Contributions	  	4
		
	 (a) Frequency of Payroll Deductions
	  	4
		
	 (b) Amount of Payroll Deductions
	  	5
		
	 (c) Changing Withholding Rate
	  	5
		
	 (d) Discontinuing Payroll Deductions
	  	5
		
	 (e) Limit on Number of Elections
	  	5
		
	SECTION 6    Withdrawal From The Plan	  	5
		
	 (a) Withdrawal
	  	5
		
	 (b) Re-enrollment After Withdrawal
	  	5

  
  

 i 

	SECTION 7    Change In Employment Status	  	5
		
	 (a) Termination of Employment
	  	5
		
	 (b) Leave of Absence
	  	6
		
	 (c) Death
	  	6
		
	 SECTION 8    Plan Accounts And Purchase Of Shares
	  	6
		
	 (a) Plan Accounts
	  	6
		
	 (b) Purchase Price
	  	6
		
	 (c) Number of Shares Purchased
	  	6
		
	 (d) Available Shares Insufficient
	  	7
		
	 (e) Issuance of Stock
	  	7
		
	 (f) Unused Cash Balances
	  	7
		
	 (g) Stockholder Approval
	  	7
		
	SECTION 9    Limitations On Stock Ownership	  	7
		
	 (a) Five Percent Limit
	  	7
		
	 (b) Dollar Limit
	  	8
		
	SECTION 10    Rights Not Transferable	  	8
		
	SECTION 11    No Rights As An Employee	  	9
		
	SECTION 12    No Rights As A Stockholder	  	9
		
	SECTION 13    Securities Law Requirements	  	9
		
	SECTION 14    Stock Offered Under The Plan	  	9
		
	 (a) Authorized Shares
	  	9
		
	 (b) Antidilution Adjustments
	  	9
		
	 (c) Reorganizations
	  	9
		
	SECTION 15    Amendment Or Discontinuance	  	10
		
	SECTION 16    Execution	  	10

  

 ii 

 SYNNEX Corporation 
  
 2003 EMPLOYEE STOCK PURCHASE PLAN 
  
 SECTION 1    Purpose Of The Plan. 
  
 The Plan was adopted by the Board on October 1, 2003, effective as of the date of the IPO. The purpose of the Plan is to
provide Eligible Employees with an opportunity to increase their proprietary interest in the success of the Company by purchasing Stock from the Company on favorable terms and to pay for such purchases through payroll deductions. The Plan is
intended to qualify under section 423 of the Code. 
  
 SECTION
2    Definitions. 
  
 (a)    “Accumulation Period” means a three-month period during which contributions may be made toward the purchase of Stock under the Plan, as determined pursuant to Section 4(b). 
  
 (b)    “Board” means the Board of
Directors of the Company, as constituted from time to time. 
  
 (c)    “Code” means the Internal Revenue Code of 1986, as amended. 
  
 (d)    “Committee” means a the Compensation Committee of the Board, as described in Section 3. 
  
 (e)    “Company” means SYNNEX
Corporation, a Delaware Corporation. 
  
 (f)    “Compensation” means (i) the compensation paid in cash to a Participant by a Participating Company, including salaries, wages, incentive compensation, bonuses, overtime pay and shift premiums,
plus (ii) any pre-tax contributions made by the Participant under section 401(k) or 125 of the Code. “Compensation” shall exclude all non-cash items, commissions, moving or relocation allowances, cost-of-living equalization payments, car
allowances, tuition reimbursements, imputed income attributable to cars or life insurance, severance pay, fringe benefits, contributions or benefits received under employee benefit plans, income attributable to the exercise of stock options, and
similar items. The Committee shall determine whether a particular item is included in Compensation. 
  
 (g)    “Corporate Reorganization” means: 
  
 (i)    The consummation of a merger or consolidation of the Company with or into another
entity or any other corporate reorganization in which the Company’s stockholders immediately prior thereto own less than 50% of the voting securities of the Company (or its successor or parent) immediately thereafter; or 
  

 1 

 (ii)    The sale, transfer or other disposition of all or
substantially all of the Company’s assets or the complete liquidation or dissolution of the Company. 
  
 (h)    “Eligible Employee” means any employee of a Participating Company, other than an officer or director who
qualifies as a “highly compensated employee” under Section 414(q) of the Code, whose customary employment is for more than five months per calendar year and for more than 20 hours per week. 
  
 The foregoing notwithstanding, an individual shall not be considered an
Eligible Employee if his or her participation in the Plan is prohibited by the law of any country which has jurisdiction over him or her or if he or she is subject to a collective bargaining agreement that does not provide for participation in the
Plan. 
  
 (i)    “Exchange
Act” means the Securities Exchange Act of 1934, as amended. 
  
 (j)    “Fair Market Value” means the market price of Stock, determined by the Committee as follows: 
  
 (i)    If Stock was traded on a stock exchange on the date in question, then the Fair Market Value shall be equal to
the closing price reported by the applicable composite transactions report for such date; 
  
 (ii)    If Stock was traded on The Nasdaq National Market on the date in question, then the Fair Market Value shall be
equal to the last-transaction price quoted for such date by The Nasdaq National Market; or 
  
 (iii)    If none of the foregoing provisions is applicable, then the Fair Market Value shall be determined by the
Committee in good faith on such basis as it deems appropriate. 
  
 Whenever possible, the determination of Fair Market Value by the Committee shall be based on the prices reported in the Wall Street Journal or as reported directly to the Company by a stock exchange or Nasdaq. Such determination
shall be conclusive and binding on all persons. 
  
 (k)    “IPO” means the initial offering of Stock to the public pursuant to a registration statement filed by the Company with the Securities and Exchange Commission. 
  
 (l)    “Offering Period” means a
24-month period with respect to which the right to purchase Stock may be granted under the Plan, as determined pursuant to Section 4(a). 
  
 (m)    “Participant” means an Eligible Employee who elects to participate in the Plan, as provided in Section 4(c).

  
 (n)    “Participating
Company” means (i) the Company and (ii) each present or future Subsidiary designated by the Committee as a Participating Company. 
  

 2 

 (o)    “Plan” means this SYNNEX Corporation 2003 Employee Stock
Purchase Plan, as it may be amended from time to time. 
  
 (p)    “Plan Account” means the account established for each Participant pursuant to Section 8(a). 
  
 (q)    “Purchase Price” means the price at which Participants may purchase Stock under the Plan, as determined
pursuant to Section 8(b). 
  
 (r)    “Stock” means the Common Stock of the Company. 
  
 (s)    “Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations beginning
with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.

  
 SECTION 3    Administration Of The Plan.

  
 (a)    Committee Composition. The
Plan shall be administered by the Committee. The Committee shall consist exclusively of one or more directors of the Company, who shall be appointed by the Board. 
  
 (b)    Committee Responsibilities. The Committee shall interpret the Plan and make all other
policy decisions relating to the operation of the Plan. The Committee may adopt such rules, guidelines and forms as it deems appropriate to implement the Plan. The Committee’s determinations under the Plan shall be final and binding on all
persons. 
  
 SECTION 4    Enrollment And
Participation. 
  
 (a)    Offering
Periods. While the Plan is in effect, two Offering Periods shall commence in each calendar year. The Offering Periods shall consist of the 24-month periods, unless otherwise determined by the Committee, commencing on October 1 and April 1 of
each year, except that the first Offering Period shall commence on the date of the IPO and end on September 30, 2005. The next Offering Period shall commence on April 1, 2004 and will end on March 31, 2006. 
  
 (b)    Accumulation Periods. While the Plan is in
effect, two Accumulation Periods shall commence in each calendar year. The Accumulation Periods shall consist of the six-month periods commencing on October 1 and April 1, except that the first Accumulation Period shall commence on the date of the
IPO and end on March 31, 2004. Employees may participate in only one Offering Period at a time. 
  
 (c)    Enrollment. Any individual who, on the day preceding the first day of an Offering Period (other than the initial
Offering Period), qualifies as an Eligible Employee may elect to become a Participant in the Plan for such Offering Period by executing the enrollment form prescribed for this purpose by the Committee. The enrollment form shall be filed with the
Company at the prescribed location not later than 15 days prior to the commencement of such 

  

 3 

 
Offering Period. All Eligible Employees shall be automatically enrolled in the initial Offering Period under the Plan. 
  
 (d)    Duration of Participation. Once enrolled in
the Plan, a Participant shall continue to participate in the Plan until he or she ceases to be an Eligible Employee, withdraws from the Plan under Section 6(a) or reaches the end of the Offering Period in which his or her employee contributions were
discontinued under Section 5(d) or Section 9(b). A Participant who discontinued employee contributions under Section 5(d) or withdrew from the Plan under Section 6(a) may again become a Participant, if he or she then is an Eligible Employee, by
following the procedure described in Subsection (c) above. A Participant whose employee contributions were discontinued automatically under Section 9(b) shall automatically resume participation at the beginning of the earliest Offering Period ending
in the next calendar year, if he or she then is an Eligible Employee. 
  
 (e)    Applicable Offering Period. For purposes of calculating the purchase price under Section 8(b), the applicable Offering Period shall be determined as follows: 
  
 (i)    Once a Participant is enrolled in
the Plan for an Offering Period, such Offering Period shall continue to apply to him or her until the earliest of: (A) the end of such Offering Period; (B) the end of his or her participation under Subsection (d) above; or (C) re-enrollment in a
subsequent Offering Period under Paragraph (ii) below. 
  
 (ii)    In the event that the Fair Market Value of Stock on the last trading day on or before the commencement of the Offering Period in which the Participant is enrolled is higher than on the last trading day on or
before the commencement of any subsequent Offering Period, the Participant shall automatically be re-enrolled for such subsequent Offering Period. 
  
 (iii)    When a Participant reaches the end of an Offering Period but his or her participation is to continue, then
such Participant shall automatically be re-enrolled for the Offering Period that commences immediately after the end of the prior Offering Period. 
  
 SECTION 5    Employee Contributions. 
  
 (a)    Frequency of Payroll Deductions. A Participant may purchase shares of Stock under the Plan solely by means of payroll
deductions; provided, however, that in the initial Accumulation Period, Participants may also purchase shares of Stock by making a lump sum cash payment at the end of the Accumulation Period. Payroll deductions, as designated by the Participant
pursuant to Subsection (b) below, shall occur on each payday during participation in the Plan. 
  
 (b)    Amount of Payroll Deductions. An Eligible Employee shall designate on the enrollment form the portion of his or her Compensation that he or she elects to have withheld for the
purchase of Stock. Such portion shall be a whole percentage of the Eligible Employee’s Compensation, but not less than 1% nor more than 15%. During the initial Accumulation Period, 

  

 4 

 
no payroll deduction will be made unless a Participant timely files the proper form with the Company after a registration statement covering the Stock is
filed and effective under the Securities Act of 1933, as amended. 
  
 (c)    Changing Withholding Rate. If a Participant wishes to change the rate of payroll withholding, he or she may do so by filing a new enrollment form with the Company at the prescribed location at any time. The
new withholding rate shall be effective as soon as reasonably practicable after such form has been received by the Company. The new withholding rate shall be a whole percentage of the Eligible Employee’s Compensation, but not less than 1% nor
more than 15%. 
  
 (d)    Discontinuing
Payroll Deductions. If a Participant wishes to discontinue employee contributions entirely, he or she may do so by filing a new enrollment form with the Company at the prescribed location at any time. Payroll withholding shall cease as soon as
reasonably practicable after such form has been received by the Company. In addition, employee contributions may be discontinued automatically pursuant to Section 9(b). A Participant who has discontinued employee contributions may resume such
contributions by filing a new enrollment form with the Company at the prescribed location. Payroll withholding shall resume as soon as reasonably practicable after such form has been received by the Company. 
  
 (e)    Limit on Number of Elections. The Committee
may limit the number of elections that a Participant may make under Subsection (c) or (d) above during any Accumulation Period. 
  
 SECTION 6    Withdrawal From The Plan. 
  
 (a)    Withdrawal. A Participant may elect to withdraw from the Plan by filing the prescribed form with the Company at the
prescribed location at any time before the last day of an Accumulation Period. In addition, in the initial Accumulation Period, Participants may be deemed to withdraw from the Plan by declining or failing to remit timely payment to the Company for
the shares of Stock. As soon as reasonably practicable thereafter, payroll deductions shall cease and the entire amount credited to the Participant’s Plan Account shall be refunded to him or her in cash, without interest. No partial withdrawals
shall be permitted. 
  
 (b)    Re-enrollment After Withdrawal. A former Participant who has withdrawn from the Plan shall not be a Participant until he or she re-enrolls in the Plan under Section 4(c). Re-enrollment may be effective only
at the commencement of an Offering Period. 
  
 SECTION
7    Change In Employment Status. 
  
 (a)    Termination of Employment. Termination of employment as an Eligible Employee for any reason, including death, shall be treated as an automatic withdrawal from the Plan under Section 6(a). A transfer from
one Participating Company to another shall not be treated as a termination of employment. 
  
 (b)    Leave of Absence. For purposes of the Plan, employment shall not be deemed to terminate when the Participant goes on a military leave, a sick leave or another bona fide leave of

  

 5 

 
absence, if the leave was approved by the Company in writing. Employment, however, shall be deemed to terminate 90 days after the Participant goes on a
leave, unless a contract or statute guarantees his or her right to return to work. Employment shall be deemed to terminate in any event when the approved leave ends, unless the Participant immediately returns to work. 
  
 (c)    Death. In the event of the
Participant’s death, the amount credited to his or her Plan Account shall be paid to a beneficiary designated by him or her for this purpose on the prescribed form or, if none, to the Participant’s estate. Such form shall be valid only if
it was filed with the Company at the prescribed location before the Participant’s death. 
  
 SECTION 8    Plan Accounts And Purchase Of Shares. 
  
 (a)    Plan Accounts. The Company shall maintain a Plan Account on its books in the name of each Participant. Whenever an
amount is deducted from the Participant’s Compensation under the Plan, such amount shall be credited to the Participant’s Plan Account. Amounts credited to Plan Accounts shall not be trust funds and may be commingled with the
Company’s general assets and applied to general corporate purposes. No interest shall be credited to Plan Accounts. 
  
 (b)    Purchase Price. The Purchase Price for each share of Stock purchased at the close of an Accumulation Period shall be the
lower of: 
  
 (i)    85% of
the Fair Market Value of such share on the last trading day in such Accumulation Period; or 
  
 (ii)    85% of the Fair Market Value of such share on the first trading day of the applicable Offering Period (as
determined under Section 4(e)) or, in the case of the first Offering Period under the Plan, 85% of the price at which one share of Stock is offered to the public in the IPO. 
  
 (c)    Number of Shares Purchased. As of the last day of each Accumulation
Period, each Participant shall be deemed to have elected to purchase the number of shares of Stock calculated in accordance with this Subsection (c), unless the Participant has previously elected to withdraw from the Plan in accordance with Section
6(a). The amount then in the Participant’s Plan Account shall be divided by the Purchase Price, and the number of shares that results shall be purchased from the Company with the funds in the Participant’s Plan Account. The foregoing
notwithstanding, no Participant shall purchase more than 2,500 shares of Stock with respect to any Accumulation Period nor more than the amounts of Stock set forth in Section 9(b) and Section 14(a). Any fractional share, as calculated under this
Subsection (c), shall be rounded down to the next lower whole share. For each Accumulation Period, the Committee shall have the authority to establish additional limits on the number of shares purchasable by each Participant or by all Participants
in the aggregate. 
  
 (d)    Available
Shares Insufficient. In the event that the aggregate number of shares that all Participants elect to purchase during an Accumulation Period exceeds the maximum number of shares remaining available for issuance under Section 14(a), then the
number of shares to 

  

 6 

 
which each Participant is entitled shall be determined by multiplying the number of shares available for issuance by a fraction, the numerator of which is
the number of shares that such Participant has elected to purchase and the denominator of which is the number of shares that all Participants have elected to purchase. 
  
 (e)    Issuance of Stock. Certificates representing the shares of Stock purchased by a
Participant under the Plan shall be issued to him or her as soon as reasonably practicable after the close of the applicable Accumulation Period, except that the Committee may determine that such shares shall be held for each Participant’s
benefit by a broker designated by the Committee (unless the Participant has elected that certificates be issued to him or her). Shares may be registered in the name of the Participant or jointly in the name of the Participant and his or her spouse
as joint tenants with right of survivorship or as community property. 
  
 (f)    Unused Cash Balances. An amount remaining in the Participant’s Plan Account that represents the Purchase Price for any fractional share shall be carried over in the Participant’s Plan Account to
the next Accumulation Period. Any amount remaining in the Participant’s Plan Account that represents the Purchase Price for whole shares that could not be purchased by reason of Subsection (c) above, Section 9(b) or Section 14(a) shall be
refunded to the Participant in cash, without interest. 
  
 (g)    Stockholder Approval. Any other provision of the Plan notwithstanding, no shares of Stock shall be purchased under the Plan unless and until the Company’s stockholders have approved the adoption of the
Plan. 
  
 SECTION 9    Limitations On Stock
Ownership. 
  
 (a)    Five Percent
Limit. Any other provision of the Plan notwithstanding, no Participant shall be granted a right to purchase Stock under the Plan if such Participant, immediately after his or her election to purchase such Stock, would own stock possessing 5% or
more of the total combined voting power or value of all classes of stock of the Company or any parent or Subsidiary of the Company. For purposes of this Subsection (a), the following rules shall apply: 
  
 (i)    Ownership of stock shall be
determined after applying the attribution rules of section 424(d) of the Code; 
  
 (ii)    Each Participant shall be deemed to own any stock that he or she has a right or option to purchase under this or any other plan; and 
  
 (iii)    Each Participant shall be deemed
to have the right to purchase up to the maximum number of shares of Stock that may be purchased by a Participant under this Plan under the individual limit specified in Section 8(c) with respect to each Accumulation Period. 
  
 (b)    Dollar Limit. Any other provision of the
Plan notwithstanding, no Participant shall purchase Stock with a Fair Market Value in excess of the following limit: 
  

 7 

 (i)    In the case of Stock purchased during an Offering Period that
commenced in the current calendar year, the limit shall be equal to (A) $25,000 minus (B) the Fair Market Value of the Stock that the Participant previously purchased in the current calendar year (under this Plan and all other employee stock
purchase plans of the Company or any parent or Subsidiary of the Company). 
  
 (ii)    In the case of Stock purchased during an Offering Period that commenced in the immediately preceding calendar year, the limit shall be equal to (A) $50,000 minus (B) the Fair Market Value
of the Stock that the Participant previously purchased (under this Plan and all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company) in the current calendar year and in the immediately preceding calendar
year. 
  
 (iii)    In the case
of Stock purchased during an Offering Period that commenced in the second preceding calendar year, the limit shall be equal to (A) $75,000 minus (B) the Fair Market Value of the Stock that the Participant previously purchased (under this Plan and
all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company) in the current calendar year and in the two preceding calendar years. 
  
 For purposes of this Subsection (b), the Fair Market Value of Stock shall be determined in each case as of the beginning of
the Offering Period in which such Stock is purchased. Employee stock purchase plans not described in section 423 of the Code shall be disregarded. If a Participant is precluded by this Subsection (b) from purchasing additional Stock under the Plan,
then his or her employee contributions shall automatically be discontinued and shall resume at the beginning of the earliest Accumulation Period ending in the next calendar year (if he or she then is an Eligible Employee). 
  
 SECTION 10    Rights Not Transferable. 
  
 The rights of any Participant under the Plan, or any Participant’s
interest in any Stock or moneys to which he or she may be entitled under the Plan, shall not be transferable by voluntary or involuntary assignment or by operation of law, or in any other manner other than by beneficiary designation or the laws of
descent and distribution. If a Participant in any manner attempts to transfer, assign or otherwise encumber his or her rights or interest under the Plan, other than by beneficiary designation or the laws of descent and distribution, then such act
shall be treated as an election by the Participant to withdraw from the Plan under Section 6(a). 
  
 SECTION 11    No Rights As An Employee. 
  
 Nothing in the Plan or in any right granted under the Plan shall confer upon the Participant any right to continue in the employ of a Participating
Company for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Participating Companies or of the Participant, which rights are hereby expressly reserved by each, to terminate his or her employment at
any time and for any reason, with or without cause. 
  

 8 

 SECTION 12    No Rights As A Stockholder. 
  
 A Participant shall have no rights as a stockholder with respect to any
shares of Stock that he or she may have a right to purchase under the Plan until such shares have been purchased on the last day of the applicable Offering Period. 
  
 SECTION 13    Securities Law Requirements. 
  
 Shares of Stock shall not be issued under the Plan unless the issuance and delivery of such shares comply with (or are
exempt from) all applicable requirements of law, including (without limitation) the Securities Act of 1933, as amended, the rules and regulations promulgated thereunder, state securities laws and regulations, and the regulations of any stock
exchange or other securities market on which the Company’s securities may then be traded. 
  
 SECTION 14    Stock Offered Under The Plan. 
  
 (a)    Authorized Shares. The maximum aggregate number of shares of Stock available for purchase under the Plan is One Million
(1,000,000) shares. The aggregate number of shares available for purchase under the Plan shall at all times be subject to adjustment pursuant to Section 14. 
  
 (b)    Antidilution Adjustments. The aggregate number of shares of Stock offered under the Plan, the individual Participant
share limitation described in Section 8(c) and the price of shares that any Participant has elected to purchase shall be adjusted proportionately by the Committee for any increase or decrease in the number of outstanding shares of Stock resulting
from a subdivision or consolidation of shares or the payment of a stock dividend, any other increase or decrease in such shares effected without receipt or payment of consideration by the Company, the distribution of the shares of a Subsidiary to
the Company’s stockholders or a similar event. 
  
 (c)    Reorganizations. Any other provision of the Plan notwithstanding, immediately prior to the effective time of a Corporate Reorganization, the Offering Period then in progress shall terminate and shares shall
be purchased pursuant to Section 8, unless the Plan is assumed by the surviving corporation or its parent corporation pursuant to the plan of merger or consolidation. The Plan shall in no event be construed to restrict in any way the Company’s
right to undertake a dissolution, liquidation, merger, consolidation or other reorganization. 
  
 SECTION 15    Amendment Or Discontinuance. 
  
 The Board shall have the right to amend, suspend or terminate the Plan at any time and without notice. Unless earlier terminated by the Board, the Plan
shall terminate on September 30, 2013. Except as provided in Section 14, any increase in the aggregate number of shares of Stock to be issued under the Plan shall be subject to approval by a vote of the stockholders of the Company. In addition, any
other amendment of the Plan shall be subject to approval by a vote of the stockholders of the Company to the extent required by an applicable law or regulation. 
  

 9 

 SECTION 16    Execution. 
  
 To record the adoption of the Plan by the Board on October 1, 2003, the Company has caused its authorized officer to execute
the same. 
  

	SYNNEX Corporation
		
	 By:
	 	  

	 	 	 Robert Huang
 President and Chief
Executive Officer

  

 10

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