Document:

Form of Registration Rights Agreement

 EXHIBIT 4.1 
  

REGISTRATION RIGHTS AGREEMENT 
  
 REGISTRATION RIGHTS AGREEMENT (this “Agreement”) dated as of August     , 2003, between Community Bancorp Inc., a
Delaware corporation (the “Company”), and each of the Persons who have executed this Agreement and are named in Annex A hereto (each, an “Investor” and, collectively, the “Investors”). 

 
 Execution and delivery of this Agreement by the parties hereto are
conditions to each Investor purchasing Shares (as defined below) from the Company under the Subscription Agreement (as defined below). Accordingly, the parties hereto hereby agree as follows: 
  
 1.  Definitions.    Unless the context
otherwise requires, the terms defined in this Section 1 have the meanings herein specified for all purposes of this Agreement, applicable to both the singular and plural forms of such terms: 
  
 “Board” means the Board of Directors of the
Company. 
  
 “Closing Date” has
the meaning given in the Subscription Agreement; provided that if there is more than one Closing Date pursuant to the Subscription Agreement, this term shall refer to the latest such Closing Date. 
  
 “Common Stock” means the common stock, par
value $.625 per share, of the Company. 
  
 “Commission” means the Securities and Exchange Commission. 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
  
 “Holder” means the record owner of
Registrable Securities. 
  
 “Holders of a
Majority of the Registrable Securities” means the Person or Persons who are the Holders of at least two-thirds of the Registrable Securities then outstanding. 
  
 “Person” means any natural person, corporation, trust, association, limited liability
company, partnership, joint venture or other entity and any government, governmental agency, instrumentality or political subdivision. 
  
 “Register”, “registered” and “registration” refer to a registration effected by
preparing and filing a registration statement in compliance with the Securities Act, and the declaration or ordering of the effectiveness of such registration statement. 
  
 “Registrable Securities” means the Shares and any shares of capital stock issued or
issuable from time to time as a dividend or other distribution with respect to, or in exchange for or in replacement of, the Shares if and so long as (i) they have not been sold to or through a broker or dealer or underwriter in a public
distribution or a public securities transaction; or (ii) they have not been sold in a transaction exempt from the registration and prospectus delivery requirements of the Securities Act under Section 4(1) thereof so that all transfer restrictions
and restrictive legends with respect to such Shares are removed upon the consummation of such sale; or (iii) they could not be sold without registration and without limitation as to volume or manner of sale by any Holder thereof pursuant to Rule 144
promulgated under the Securities Act. 
  
 “Securities Act” means the Securities Act of 1933, as amended. 
  
 “Shares” means the shares of Common Stock sold and issued to the Investors pursuant to the Subscription Agreement.

  
 “Subscription Agreement”
means one or more Subscription Agreements of even date herewith between the Company and each Investor relating to the purchase and sale of the Shares. 
  
 2.  Required Registration 
  
 (a)  Subject to the receipt of all necessary information from the Investors, the Company shall use commercially reasonable efforts to prepare
and file a registration statement on Form S-3 under the Securities Act covering the Registrable Securities (the “Registration Statement”), on or before the date that is thirty (30) days 

 
after the Closing Date (the “Filing Date”), and shall use its commercially reasonable efforts to cause such Registration Statement to become
effective as soon as practicable after filing, and in any event no later than December 31, 2003 (the “Effectiveness Date”); provided, however, that if the Company receives notification from the SEC that the Registration Statement
will receive no action or review from the SEC, then the Company will, subject to its rights under Section 2(d) below, cause the Registration Statement to become effective within five business days after such SEC notification. Notwithstanding the
foregoing, if Form S-3 is not available, then the Company will file a Registration Statement on such form as is then available to effect a registration of the Registrable Securities, subject to the consent of the Holders, which consent will not be
unreasonably withheld or delayed. 
  
 (b)  The Company
shall use its commercially reasonable efforts to maintain the effectiveness of the Registration Statement under the Securities Act until the earliest of (i) the date that is two years after the Closing Date, and (ii) the date on which all of the
Registrable Securities have been sold pursuant to the Registration Statement or no longer constitute Registrable Securities (the “Registration Period”). 
  
 (c)  Notwithstanding the foregoing, if the Company is engaged in any activity or transaction or preparations or
negotiations for any activity or transaction that the Company desires to keep confidential for business reasons and the Company determines in good faith that the public disclosure requirements imposed on the Company under the Securities Act in
connection with a registration hereunder would require disclosure of such activity, transaction, preparation or negotiations and that such disclosure would be seriously detrimental to the Company, the Company shall have the right, by written notice
to the Holders, (A) to withdraw a registration statement after filing and after such notice, but prior to the effectiveness thereof, or (B) suspend the effectiveness thereof for a period not to exceed 90 days; provided that such right may not
be exercised more than once in any twelve-month period. 
  
 3.  Piggy-back Registration 
  
 (a)  If, at any time prior to the expiration of the Registration Period a Registration Statement is not effective with respect to all of the Shares, each time the Company determines to file a registration statement under the
Securities Act (other than pursuant to Section 2 hereof and other than a registration statement on Form S-4 or Form S-8 or a registration statement on Form S-1 covering solely an employee benefit plan) in connection with the proposed offer and sale
for money of any of its securities, either for its own account or on behalf of any other security holder, it will give prompt written notice of its determination to all Holders of Registrable Securities. Upon the written request of a Holder of
Registrable Securities given within 20 days after the receipt of such written notice, the Company will use commercially reasonable efforts to cause all such Registrable Securities, the Holders of which have so requested registration, to be included
in such registration statement and registered under the Securities Act, all to the extent requisite to permit the sale or other disposition by the prospective seller or sellers of the Registrable Securities to be so registered. 
  
 (b)  If the registration of which the Company gives written notice
pursuant to Section 3(a) is for a public offering involving an underwriting, the Company will so advise the Holders as a part of its written notice. In such event, the right of any Holder to registration pursuant to this Section 3 is conditioned
upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their Registrable Securities through
such underwriting shall enter into an underwriting agreement with the underwriter or underwriters selected for such underwriting by the Company, along with the Company and the other holders distributing their securities through such underwriting;
provided that such underwriting agreement is in customary form and is reasonably acceptable to the Holders of a majority of the Registrable Securities requesting to be included in such registration. 
  
 (c)  Notwithstanding any other provision of this Section 3, if the
managing underwriter of an underwritten distribution advises the Company and the Holders of the Registrable Securities participating in such registration in writing that in its good faith judgment the number of shares of Registrable Securities and
the other securities 

  

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requested to be registered exceeds the number of shares of Registrable Securities and other securities which can be sold in such offering, then (i) the
number of shares of Registrable Securities and other securities so requested to be included in the offering will be reduced to that number of shares which in the good faith judgment of the managing underwriter can be sold in such offering (except
for shares to be issued by the Company in an offering initiated by the Company, which will have priority over the shares of Registrable Securities), and (ii), subject to existing priority rights of the holders of such other securities, such reduced
number of shares will be allocated among all participating Holders of Registrable Securities and the holders of other securities in proportion, as nearly as practicable, to the respective number of shares of Registrable Securities and other
securities held by such Holders and other holders at the time of filing the registration statement in relation to the total number of shares of Common Stock outstanding on a fully diluted basis. All Registrable Securities which are excluded from the
underwriting by reason of the underwriter’s marketing limitation and all other Registrable Securities not originally requested to be so included will not be included in such registration and will be withheld from the market by the Holders
thereof for a period, not to exceed 180 days, which the managing underwriter reasonably determines is necessary to effect the underwritten public offering. 
  
 4.  Registration Procedures.    If and whenever the Company is required by the provisions of Section 2 or 3 hereof to
effect the registration of Registrable Securities under the Securities Act, the Company will: 
  
 (a)  In accordance with the Securities Act and all applicable rules and regulations thereunder, prepare and file with the
Commission a registration statement with respect to such securities and use its commercially reasonable efforts to cause such registration statement to become effective, and use its commercially reasonable efforts to cause such registration
statement to remain effective (including preparing and filing with the Commission such amendments and supplements to such registration statement and the prospectus contained therein as may be necessary to keep such registration statement effective)
until the securities covered by such registration statement have been sold or as otherwise set forth in Section 2; 
  
 (b)  If the offering is to be underwritten in whole or in part, enter into a customary written underwriting agreement in form
and substance reasonably satisfactory to the managing underwriter of the public offering, the Company and the Holders of a Majority of the Registrable Securities participating in such offering; 
  
 (c)  Furnish to the Holders participating in such
registration and to the underwriters of the securities being registered such number of copies of the registration statement and each amendment and supplement thereto, preliminary prospectus, final prospectus and such other documents as such
underwriters and Holders may reasonably request in order to facilitate the public offering of such securities; provided, however, that the obligation of the Company to deliver copies of prospectuses or preliminary prospectuses to any Holder
shall be subject to the receipt by the Company of reasonable assurances from such Holder that the Holder will comply with the applicable provisions of the Securities Act and of such other securities or blue sky laws as may be applicable in
connection with any use of such prospectuses or preliminary prospectuses; 
  
 (d)  Use its commercially reasonable efforts to register or qualify the securities covered by such registration statement under such state securities or blue sky laws of such jurisdictions as such
participating Holders and underwriters may reasonably request within ten days prior to the original filing of such registration statement, except that the Company will not for any purpose be required to execute a general consent to service of
process or to qualify to do business as a foreign corporation in any jurisdiction where it is not so qualified; 
  
 (e)  Notify the Holders participating in such registration, promptly after it receives notice thereof, of the date and time when
such registration statement and each post-effective amendment thereto has become effective or a supplement to any prospectus forming a part of such registration statement has been filed; 
  
 (f)  Notify such Holders promptly of any request by the Commission for the amending or
supplementing of such registration statement or prospectus or for additional information; 
  
 (g)  Prepare and file with the Commission, promptly upon the request of any such Holders, any amendments or supplements to such
registration statement or prospectus which, in the written opinion of 

  

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counsel for such Holders, which opinion shall be reasonably acceptable to counsel for the Company, is required under the Securities Act or the rules and
regulations of the Commission thereunder in connection with the distribution of the Registrable Securities by such Holders; 
  
 (h)  Prepare and file promptly with the Commission, and promptly notify such Holders of the filing of, such amendments or
supplements to such registration statement or prospectus as may be necessary to correct any statements or omissions if, at the time when a prospectus relating to such securities is required to be delivered under the Securities Act, any event has
occurred as the result of which any such prospectus or any other prospectus as then in effect would include an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading; 
  
 (i)  Advise such Holders, promptly after it receives notice or obtains knowledge thereof, of the issuance of any stop order by
the Commission suspending the effectiveness of such registration statement or the initiation or threatening of any proceeding for that purpose and promptly use its commercially reasonable efforts to prevent the issuance of any stop order or to
obtain its withdrawal if such stop order should be issued; and 
  
 (j)  At the request of any Holder of Registrable Securities covered by such registration statement, furnish to such Holder on the effective date of the registration statement or, if such registration
includes an underwritten public offering, at the closing provided for in the underwriting agreement, an opinion dated such date of the counsel representing the Company for the purposes of such registration, addressed to the underwriters, if any, and
to the Holder or Holders making such request, covering such matters with respect to the registration statement, the prospectus and each amendment or supplement thereto, proceedings under state and federal securities laws, other matters relating to
the Company, the securities being registered and the offer and sale of such securities as are customarily the subject of opinions of issuer’s counsel provided to underwriters in underwritten public offerings, provided, however, that such
opinion shall be no more extensive than the opinion provided as Appendix B to the Subscription Agreement. 
  
 (k)  Provide a transfer agent and registrar, which may be a single entity, for the Registrable Securities not later than the
Effectiveness Date. 
  
 5.  Accuracy of Registration
Statement.    Subject to the Company’s rights under Section 10, any Registration Statement (including any amendments or supplements thereto and prospectuses contained therein) filed by the Company covering Registrable
Securities will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein, or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading.
Subject to the limitations set forth in Section 10, the Company will prepare and file with the SEC such amendments (including post-effective amendments) and supplements to the Registration Statement and the prospectus used in connection with the
Registration Statement as may be necessary to permit sales pursuant to the Registration Statement at all times during the Registration Period, and, during such period, will comply with the provisions of the Securities Act with respect to the
disposition of all Registrable Securities of the Company covered by the Registration Statement until the termination of the Registration Period, or if earlier, until such time as all of such Registrable Securities have been disposed of in accordance
with the intended methods of disposition by the seller or sellers thereof as set forth in the Registration Statement. 
  
 6.  Additional Obligations of the Company 
  
 6.1  Review by Investors.    The Company will permit Manatt, Phelps & Phillips LLP, to review the Registration
Statement and all amendments and supplements thereto (as well as all requests for acceleration or effectiveness thereof) a reasonable period of time prior to their filing with the SEC, and will not file any document in a form to which such counsel
reasonably objects, unless otherwise required by law in the opinion of the Company’s counsel. The sections of any such Registration Statement including information with respect to the Investors, the Investors’ beneficial ownership of
securities of the Company or the Investors’ intended method of disposition of Registrable Securities must conform to the information provided to the Company by each of the Investors. 
  

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 6.2  Expenses.    With respect to the registration effected pursuant
to Section 2 hereof, the Company will bear all fees, costs and expenses of and incidental to such registration and the public offering in connection therewith; provided, however, that the Company shall not be liable for any underwriting
discounts and commissions, which in all cases shall be borne by the Holders. Such fees, costs and expenses of registration to be borne as provided in the preceding sentence, include, without limitation, all registration, filing and NASD fees,
printing expenses, fees and disbursements of counsel and accountants for the Company, all expenses of complying with state securities or blue sky laws of any jurisdictions in which the securities to be offered are to be registered or qualified and
reasonable fees and disbursements (not to exceed $15,000) of one firm of counsel for all selling security holders, selected by the Holders of a Majority of the Registrable Securities to be included in such registration, and reasonably acceptable to
the Company. 
  
 6.3  Due
Diligence.    The Company will make available for inspection by any Investor whose Registrable Securities are being sold pursuant to a Registration Statement and one firm of attorneys retained by the Investors (collectively,
the “Inspectors”), all pertinent financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as each Inspector reasonably deems necessary to enable the
Inspector to exercise its due diligence responsibility. The Company will cause its officers, directors and employees to supply all information that any Inspector may reasonably request for purposes of performing such due diligence. Each Inspector
will hold in confidence, and will not make any disclosure of, any Records or other information that the Company determines in good faith to be confidential, and of which determination the Inspectors are so notified, unless (i) the disclosure of such
Records is necessary to avoid or correct a misstatement or omission in any Registration Statement, (ii) the release of such Records is ordered pursuant to a subpoena or other order from a court or government body of competent jurisdiction, or (iii)
the information in such Records has been made generally available to the public other than by disclosure in violation of this or any other agreement. 
  
 7.  Indemnification 
  
 (a)  The Company agrees to indemnify and hold harmless each Holder of Registrable Securities which are included in a registration statement
pursuant to the provisions of this Agreement and each of such Holder’s officers, directors, partners, legal counsel and accountants, and each Person who controls such Holder within the meaning of the Securities Act and any underwriter (as
defined in the Securities Act) for such Holder, and any Person who controls such underwriter within the meaning of the Securities Act, from and against, and to reimburse such Holder, its officers, directors, partners, legal counsel, accountants and
controlling Persons and each such underwriter and controlling Person of such underwriter with respect to, any and all claims, actions (actual or threatened), demands, losses, damages, liabilities, costs and expenses to which such Holder, its
officers, directors, partners, legal counsel, accountants or controlling Persons or any such underwriter or controlling Person of such underwriter may become subject under the Securities Act or otherwise, insofar as such claims, actions, demands,
losses, damages, liabilities, costs or expenses arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in such registration statement, any prospectus contained therein, or any amendment or
supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in light of the circumstances in which
they were made; provided, however, that the Company will not be liable in any such case to the extent that any such claim, action, demand, loss, damage, liability, cost or expense is caused by an untrue statement or alleged untrue statement
or omission or alleged omission so made in conformity with written information furnished by such Holder, such underwriter or such controlling Person specifically for use in the preparation thereof. 
  
 (b)  Each Holder of shares of Registrable Securities that are
included in a registration statement pursuant to the provisions of this Agreement agrees, severally and not jointly, to indemnify and hold harmless the Company, its officers, directors, legal counsel and accountants, any underwriter and each Person
who controls the Company or any underwriter within the meaning of the Securities Act, from and against, and agrees to reimburse the Company, its officers, directors, legal counsel, accountants and controlling Persons, any underwriter with respect

  

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to, any and all claims, actions, demands, losses, damages, liabilities, costs or expenses to which the Company, its officers, directors, legal counsel,
accountants, such controlling Persons, or any underwriter may become subject under the Securities Act or otherwise, insofar as such claims, actions, demands, losses, damages, liabilities, costs or expenses are caused by any untrue or alleged untrue
statement of any material fact contained in such registration statement, any prospectus contained therein or any amendment or supplement thereto, or are caused by the omission or the alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading, in each case, to the extent, but only to the extent, that such untrue statement or alleged untrue statement or
omission or alleged omission was so made in reliance upon and in conformity with written information furnished by such Holder specifically for use in the preparation thereof. Notwithstanding the foregoing, no Holder of Registrable Securities will be
obligated hereunder to pay more than the net proceeds realized by it upon its sale of Registrable Securities included in such registration statement. 
  
 (c)  Promptly after receipt by a party indemnified pursuant to the provisions of subsection (a) or (b) of this Section of notice of the
commencement of any action involving the subject matter of the foregoing indemnity provisions, such indemnified party will, if a claim therefor is to be made against the indemnifying party pursuant to the provisions of subsection (a) or (b), notify
the indemnifying party of the commencement thereof; but the omission so to notify the indemnifying party will not relieve it from any liability which it may have to an indemnified party otherwise than under this Section and will not relieve the
indemnifying party from liability under this Section 6 unless such indemnifying party is prejudiced by such omission. In case any such action is brought against any indemnified party, and it notifies the indemnifying party of the commencement
thereof, the indemnifying party will be entitled to participate therein and, to the extent that it may wish, jointly with any other indemnifying parties similarly notified, to assume the defense thereof, with counsel satisfactory to such indemnified
party; provided, however, that if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party reasonably concludes that there may be legal defenses available to it and/or
other indemnified parties which are different from or additional to those available to the indemnifying party, the indemnified party or parties will have the right to select separate counsel (in which case the indemnifying party will not have the
right to direct the defense of such action on behalf of the indemnified party or parties). Upon the permitted assumption by the indemnifying party of the defense of such action, and approval by the indemnified party of counsel, the indemnifying
party will not be liable to the indemnified party under subsection (a) or (b) for any legal or other expenses subsequently incurred by the indemnified party in connection with the defense thereof (other than reasonable costs of investigation) unless
(i) the indemnified party has employed separate counsel in connection with the assertion of legal defenses in accordance with the proviso to the next preceding sentence, (ii) the indemnifying party has employed counsel satisfactory to the
indemnified party to represent the indemnified party within a reasonable time, (iii) the indemnifying party and its counsel fail actively and vigorously to pursue the defense of the action or (iv) the indemnifying party authorizes the employment of
counsel for the indemnified party at the expense of the indemnifying party. No indemnifying party will be liable to an indemnified party for any settlement of any action or claim without the consent of the indemnifying party, and no indemnifying
party may unreasonably withhold its consent to any such settlement. No indemnifying party will consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or
plaintiff to the indemnified party of a release from all liability with respect to such claim or litigation. 
  
 (d)  If the indemnification provided for in subsection (a) or (b) of this Section is held by a court of competent jurisdiction to be unavailable
to a party to be indemnified with respect to any claims, actions, demands, losses, damages, liabilities, costs or expenses referred to therein, then each indemnifying party under any such subsection, in lieu of indemnifying such indemnified party
thereunder, agrees to contribute to the amount paid or payable by such indemnified party as a result of such claims, actions, demands, losses, damages, liabilities, costs or expenses in such proportion as is appropriate to reflect the relative fault
of the indemnifying party on the one hand and of the indemnified party on the other in connection with the statements or omissions which resulted in such claims, actions, demands, losses, damages, liabilities, costs or expenses, as well as any other
relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party 

  

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will be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission
to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.
Notwithstanding the foregoing, the amount any Holder of Registrable Securities will be obligated to contribute pursuant to this subsection will be limited to an amount equal to the per share public offering price (less any underwriting discount and
commissions) multiplied by the number of shares of Registrable Securities sold by such Holder pursuant to the registration statement which gives rise to such obligation to contribute (less the aggregate amount of any damages which such Holder has
otherwise been required to pay in respect of such claim, action, demand, loss, damage, liability, cost or expense or any substantially similar claim, action, demand, loss, damage, liability, cost or expense arising from the sale of such Registrable
Securities). No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution hereunder from any person who was not guilty of such fraudulent misrepresentation. 

 
 8.  Reporting Requirements Under Exchange
Act.    The Company will maintain the effectiveness of its registration under Section 12 of the Exchange Act and file timely (whether or not it is then required to do so) such information, documents and reports as the
Commission may require or prescribe under Section 15(d) of the Exchange Act. The Company will, forthwith upon written request, furnish to any Holder of Registrable Securities a written statement by the Company that it has complied with such
reporting requirements. In addition, the Company will take such other measures and file such other information, documents and reports, as may be required of it hereafter by the Commission as a condition to the availability of Rule 144 under the
Securities Act (or any similar exemptive provision hereafter in effect). 
  
 9.  Holder Information.    The rights of each Holder of Registrable Securities to participate in any registration is to be effected pursuant to this Agreement is subject to such
Holder furnishing the Company with such information with respect to such Holder and the distribution of such Registrable Securities as the Company may from time to time reasonably request and as may be required by law or by the Commission in
connection therewith, and each Holder of Registrable Securities as to which any registration is to be effected pursuant to this Agreement shall furnish the Company with such information. 
  
 10.  Suspension of Sales.    Upon receipt of written notice from the Company that a
registration statement or prospectus contains an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading (a “Misstatement”), each
Holder of Registrable Securities shall forthwith discontinue disposition of Registrable Securities until such Holder has received copies of the supplemented or amended prospectus that corrects such Misstatement, or until such Holder is advised in
writing by the Company that the use of the prospectus may be resumed, and, if so directed by the Company, such Holder shall deliver to the Company (at the Company’s expense) all copies, other than permanent file copies then in such
Holder’s possession, of the prospectus covering such Registrable Securities current at the time of receipt of such notice. 
  
 11.  Forms.    All references in this Agreement to particular forms of registration statements are intended to
include, and will be deemed to include, references to all successor forms which are intended to replace, or to apply to similar transactions as, the forms herein referenced. 
  
 12.  Miscellaneous 
  

12.1  Waivers and Amendments.    With the written consent of the Holders of a Majority of the Registrable
Securities, the obligations of the Company and the rights of the Holders under this Agreement may be waived (either generally or in a particular instance, either retroactively or prospectively and either for a specified period of time or
indefinitely), and with the same consent the Company may enter into a supplementary agreement for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of any supplemental
agreement or modifying in any manner the rights and obligations hereunder of 

  

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the Holders and the Company; provided, however, that no such waiver or supplemental agreement may reduce the aforesaid proportion of Registrable
Securities, the Holders of which are required to consent to any waiver or supplemental agreement, without the consent of the Holders of all the Registrable Securities; and provided further that any such waiver amendment or supplement that
applies only to a particular registration shall require only the written consent of the Holders of a Majority of the Registrable Securities included in such registration. Upon the effectuation of each such waiver, consent or agreement of amendment
or modification, the Company will give prompt written notice thereof to the Holders of the Registrable Securities who have not previously consented thereto in writing. Neither this Agreement nor any provision hereof may be changed, waived,
discharged or terminated orally or by course of dealing, but only by a statement in writing signed by the party against which enforcement of the change, waiver, discharge or termination is sought, except to the extent provided in this Section 12.1.
Specifically, but without limiting the generality of the foregoing, the failure of any Investor at any time or times to require performance of any provision hereof by the Company will not affect the right of any Investor at a later time to enforce
the same. No waiver by any party of the breach of any term or provision contained in this Agreement, in any one or more instances, will be deemed to be, or construed as, a further or continuing waiver of any such breach, or a waiver of the breach of
any other term or covenant contained in this Agreement. 
  
 12.2  Effect of Waiver or Amendment.    Each Investor acknowledges that by operation of Section 12.2 the Holders of a Majority of the Registrable Securities will, subject to the limitations contained in
Section 12.2, have the right and power to diminish or eliminate certain rights of such Investor under this Agreement. 
  
 12.3  Rights of Investors Inter Se.    Each Investor has the absolute right to exercise or refrain from exercising
any right or rights which such Investor may have by reason of this Agreement or any Registrable Security, including, without limitation, the right to consent to the waiver of any obligation of the Company under this Agreement and to enter into an
agreement with the Company for the purpose of modifying this Agreement or any agreement effecting any such modification, and such Investor will not incur any liability to any other Investor or Investors with respect to exercising or refraining from
exercising any such right or rights. 
  
 12.4  Notices.    All notices, requests, consents and other communications required or permitted hereunder will be in writing and will be delivered, or mailed first class postage prepaid, registered or
certified mail, 
  
 (a)  If to any
Investor, addressed to such Investor at its address shown on Annex A hereto, or at such other address as such Investor may specify by written notice to the Company; or 
  
 (b)  If to the Company, at 900 Canterbury Place, Suite 300, Escondido, California 92025, or at
such other address as the Company may specify by written notice to the Investors; 
  
 and each such notice, request, consent and other communication will for all purposes of this Agreement be treated as being effective or having been given when delivered, if delivered personally, or, if sent by mail, at the earlier of its
actual receipt or three days after the same has been deposited in a regularly maintained receptacle for the deposit of United States mail, addressed and postage prepaid as aforesaid. 
  
 12.5  Severability.    Should any one or more of the provisions of this Agreement or of
any agreement entered into pursuant to this Agreement be determined to be illegal or unenforceable, it is the intention of the parties hereto that all other provisions of this Agreement and of each other agreement entered into pursuant to this
Agreement should be given effect separately from the provision or provisions determined to be illegal or unenforceable and not be affected thereby. 
  
 12.6  Parties in Interest.    All the terms and provisions of this Agreement will be binding upon and inure to the
benefit of and be enforceable by the respective successors and assigns of the parties hereto, whether so expressed or not and, in particular, will inure to the benefit of and be enforceable by the Holder or Holders at the time of any registration of
Registrable Securities. Subject to the immediately preceding sentence, this Agreement will not run to the benefit of or be enforceable by any Person other than a party to this Agreement and its successors and assigns. 
  

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 12.7  Headings.    The headings of the sections, subsections and
paragraphs of this Agreement have been inserted for convenience of reference only and do not constitute a part of this Agreement. 
  
 12.8  Entire Agreement.    This Agreement constitutes the entire understanding of the parties hereto and supersedes
all prior understanding among such parties. 
  
 12.9  Choice of Law.    This Agreement and any and all matters related to or arising under this Agreement shall be governed by the internal laws of the State of California, regardless of any provisions
on choice of or conflicts of law. 
  
 12.10  Counterparts.    This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, with the same effect as if all parties had signed the same
document. All such counterparts will be deemed an original, will be construed together and will constitute one and the same instrument. 
  
 12.11  Assignment of Registration Rights.    The rights of the Investors hereunder, including the right to have the
Company register Registrable Securities pursuant to this Agreement, will be automatically assigned by the Investors to transferees or assignees of all or any portion of the Registrable Securities, but only if (a) the Investor agrees in writing with
the transferee or assignee to assign such rights, and a copy of such agreement is furnished to the Company within a reasonable time after such assignment, (b) the Company is, within a reasonable time after such transfer or assignment, furnished with
written notice of the name and address of such transferee or assignee and the securities with respect to which such registration rights are being transferred or assigned (c) after such transfer or assignment the further disposition of such
securities by the transferee or assignee is restricted under the Securities Act and applicable state securities laws, (d) at or before the time the Company received the written notice contemplated by clause (b) of this sentence, the transferee or
assignee agrees in writing with the Company to be bound by all of the provisions contained herein, and (e) the transferee is an “accredited investor” as that term is defined in Rule 501 of Regulation D promulgated under the Securities Act.

  
 (Signature page follows) 
  

 9 

 IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed personally or by
a duly authorized representative thereof as of the day and year first above written. 
  

	COMMUNITY BANCORP INC.
	
	 By:                                      
                                        
                  

	 	 	 Thomas Swanson
 Chief Executive
Officer

	
	                                       
                                        
                         
 [Print Name of Investor]

	
	 By:                                      
                                        
                  

	 Name:                                     
                                        
             
 Title:                                     
                                        
               

  

 10 

 ANNEX A 
  
 INVESTORS 
  

	 Name and Address

	  	Number
of
Shares1993 Stock Option Plan

 Exhibit 10.1 
  
 SYNNEX INFORMATION TECHNOLOGIES, INC. 
 1993 STOCK OPTION PLAN 
  
 1.    PURPOSE OF PLAN 
  
 The
Synnex Information Technologies, Inc. 1993 Stock Option Plan is intended to encourage employees, directors, and consultants of Synnex Information Technologies, Inc., a California corporation (the “Company”), its Subsidiaries and Parent (if
any) to acquire stock in the Company and to provide such persons with an additional incentive to promote the financial success of the Company. 
  
 2.    DEFINED TERMS 
  
 Capitalized terms used in the Plan have the meanings noted on Section 14. 
  
 3.    ELIGIBILITY 
  
 (a) In General. Directors, employees and consultants of the Company, its Parent or any Subsidiary are
eligible to receive Options; provided, however, that only employees and directors who are also employees of the Company, its Parent or any Subsidiary may be granted ISO’s. 
  
 (b) More Than 10% Shareholders. No Option shall be granted to any person who at the time of grant
owns stock with more than 10% of the total voting power of all classes of stock of the Company, its parent or any Subsidiary, computed pursuant to Sections 422(b)(6) and 424(d) of the Code, unless at the time the Option is granted the exercise price
is at least 110% of the Fair Market Value of the shares of Common Stock subject to the Option, and the Option is not exercisable after five years from the date of grant. 
  
 4.    SHARES SUBJECT TO PLAN 
  
 (a) Maximum Shares. The maximum number of shares of Common Stock that may be subject to Options and
which are reserved for the Plan is 2,700,000 shares of Common Stock, subject to adjustment as provided in Section 4(b). If an Option expires or terminates for any reason without having been fully exercised, the unpurchased shares of Common Stock
shall be added to the shares of Common Stock available for Options. The unpurchased shares of Common Stock shall not increase the maximum number of shares of Common Stock which may be subject to Options. 
  
 (b) Adjustment of Shares and Price. In the event that
the Common Stock is changed into or exchanged for a different kind or number of shares of stock or securities of the Company as the result of any stock dividend, stock split, combination of shares, exchange of shares, merger, consolidation,
reorganization, recapitalization or 

  

 1 

 
other change in capital structure, then, unless the change results in the termination of outstanding Options pursuant to Section 6(c), the number of shares
of Common Stock subject to this Plan and to outstanding Options and the exercise price for such shares shall be equitably adjusted by the Committee to prevent the dilution or enlargement of rights. Any new stock or securities into which the Common
Stock has been changed or for which it has been exchanged shall be substituted for the Common Stock subject to this Plan and to outstanding Options; provided, however, that fractional shares may be deleted from the adjustment or substitution.

  
 5.    GRANTING OF OPTIONS

  
 (a) Grants. The Committee shall from
time to time, in its sole discretion but subject to this Plan, determine: 
  
 (i) the persons who will be granted Options; 
  
 (ii) the number of shares of Common Stock subject to each Option; 
  
 and 
  
 (iii)
whether the Option will be an ISO or NQSO. 
  
 New Options may not
be granted after the tenth anniversary of the Effective Date; provided, however, that the Board of Directors may, in its sole discretion, direct the Committee to suspend or cease granting Options at an earlier date. An Option shall be considered to
be granted on the date on which the Committee authorizes the grant, provided that the Optionee executes a Stock Option Agreement in the form required by the Committee. 
  
 (b) Exercise Price. Subject to Section 3(b) and Section 4(b), the exercise price per share of Common
Stock subject to each ISO is determined solely by the Committee but shall not be less than the Fair Market Value of the shares of Common Stock on the date the Option is granted. Subject to Section 3(b) and Section 4(b), the exercise price per share
of Common Stock subject to each NQSO shall be determined solely by the Committee but shall not be less than 85% of the Fair Market Value of the shares of Common Stock on the date the Option is granted. 
  
 (c) Single Employee ISO Limit. The aggregate Fair
Market Value (determined at the time an Option is granted) of the shares of Common Stock or other stock of the Company with respect to which ISOs granted to an employee are exercisable for the first time by such employee during any calendar year
(under all Options and all other stock option plans of the Company or a Parent or any Subsidiaries of the Company or any predecessor corporation of any such corporations) shall not exceed $100,000, as required by Section 422(d) of the Code, or any
successor provision. 
  
 6.    EXERCISE OF
OPTIONS 
  

 2 

 (a)    Exercise Rights. Subject to Section 3(b) and Sections
6(b) and (c), at the time of grant of the Option the Committee shall determine and set forth in the Stock Option Agreement the time or times the Option may be exercised, the period or periods during which the Option may be exercised, and the number
of shares subject to the Option, except that 
  
 (i)    no Option shall be exercisable prior to the date the Plan is approved by the Company’s shareholders pursuant to Section 10; 
  
 (ii)    no Option shall be exercisable after the expiration of 10 years from the date of
grant; 
  
 (iii)    each
Option shall become exercisable for an amount of Common Stock equal to at least 20% of the shares subject to the Option each year; such that on or after the first anniversary of the grant of the Option, the Option shall be exercisable for at least
20% of the shares subject to the Option, on or after the second anniversary of the grant of the Option, the Option shall be exercisable for at least 40% of the shares subject to the Option, etc.; and 
  
 (iv)    the calculation of the vesting
period shall be suspended during any leave of absence at the request, or with the approval, of the Company, a Subsidiary, or a Parent. 
  
 (b)    Termination of Employment or Directorship. Provided the Option has not lapsed, been canceled, or
terminated under Sections 4(b), 6(a)(ii), or 6(c) or 10, if the Optionee’s position as an employee, officer or director of the Company, a Subsidiary or Parent is terminated, the Optionee shall have the following time periods after the date of
termination in which to exercise the Optionee’s Option for up to the same number of shares that the Optionee was entitled to purchase on the day before the date of termination (without regard to any severance pay, vacation pay or other payments
upon termination): 
  
 (i)    one year when termination is caused by the disability (meaning the Optionee is unable to engage in any substantial gainful activity by reason of a medically determinable physical or mental impairment which can be
expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months; 
  
 (ii)    eighteen (18) months when termination is caused by death; or 
  
 (iii)    90 days after termination for
any reason other than the death or disability of the Optionee. 
  
 To the extent the Option remains unexercised as of the end of the applicable period of time following termination of the Optionee’s employment, position as an officer or directorship set forth above, the Option shall automatically
terminate. To the extent 
  

 3 

 the Optionee does not exercise the Option within the time periods following termination of employment or position as an
officer prescribed under Section 422(a)(2) of the Code, and the former employee remains a director of the Company after termination of employment, the unexercised Options will thereafter be treated as NQSO’s. 
  
 Termination of an Optionee’s directorship, position of an officer or
employment with the Company, a Parent or a Subsidiary to accept a board position, position as an officer or employment with another corporation which is either the Company, a Subsidiary or Parent shall not be deemed a termination for purposes of
this Section 6(b). A leave of absence at the request, or with the approval, of the Company, a Subsidiary, or a Parent shall not be deemed a termination for purposes of this Section 6(b), so long as the period of such leave does not exceed 90 days,
or, if longer, so long as the Optionee’s right to reemployment with the Company (or a Subsidiary or Parent of the Company) is guaranteed by contract. 
  
 (c)    Change of Ownership. In the event of a Change of Ownership constituting a merger or consolidation of the
Company with any other corporation where the surviving corporation will not provide for assumption of any Option or a substitution of a new option for any Option, the Company shall cancel the Option in accordance with Sections 6(c)(iii) or (iv) in
the event that an Option is not exercised prior to or as of the consummation of the Change in Ownership. 
  
 In addition, in the event of any Change of Ownership, the Company may, in its sole discretion and without the consent of any Optionee, do any of the
following with respect to any or all of the then outstanding unexercised Options: 
  
 (i)    If the company is the surviving corporation, provide for the continuation of the Plan and all outstanding
Options; 
  
 (ii)    Arrange
for the assumption of any Option, or a substitution of a new option for any Option, by the purchasing or surviving corporation, provided that in the case of an ISO the assumption or substitution does not constitute a “modification” of the
ISO as defined in Section 424(h) of the Code; 
  
 (iii)    Cancel any outstanding Option, whether then exercisable or not, but only upon payment to the Optionee of cash in an amount equal to the excess, if any, of the aggregate Fair Market Value of the shares of Common
Stock then subject to the unexercised portion of the Option over the aggregate exercise price under the Option for such shares; or 
  
 (iv)    Cancel any outstanding Option, whether then exercisable or not, but only upon issuance to the Optionee of
shares of stock in the purchasing or surviving corporation in an amount equal to the excess, if any, of aggregate Fair Market Value of the shares of Common Stock then subject to the unexercised portion of the Option over the aggregate exercise price
under the Option for such shares. 
  

 4 

 To the extent not inconsistent with any applicable law, the Company shall use its best efforts to give at least 15 days
advance notice of any proposed Change of Ownership transaction to each Optionee who has outstanding unexercised Options, which notice shall describe the transaction in general terms, and notify the Optionee of any action which the Company and the
surviving corporation, if other than the Company, have decided to take pursuant to this Section 6(c) with respect to that Optionee’s Options. 
  
 7.    EXERCISE PROCEDURE AND PAYMENT 
  

(a)    Exercise Procedure. To exercise an Option, an Optionee must give written notice to the Company in
form satisfactory to the Company specifying the number of whole shares, but in increments of not less than 500, that the Optionee elects to purchase. The Company shall specify a closing date, which shall be not more than 30 days after the date of
the Optionee’s notice, for the payment of the exercise price and the issuance of the Common Stock being purchased. If any purchase of shares requires the consent of or a filing with or notice to the Securities and Exchange Commission or any
other applicable federal or state agency charged with the administration of applicable securities laws, the time period specified for the closing shall be extended for such periods as the necessary consent, filing or notice period is pending. No
person may exercise an option more than once in any calendar quarter without the consent of the Committee, except in the case of the exercise of an Option following the Optionee’s termination of employment, position as an officer or
directorship with Company or a Subsidiary, as the case may be, or an exercise made in contemplation of a Change of Ownership under Section 6(c). The date of exercise shall be the date on which the written notice is received by the Company. On or
before the closing date, the Optionee must in form satisfactory to the Company all documents required under the Plan, the Stock Option Agreement and applicable laws and regulations with regard to the purchase of the shares of Common Stock (including
investment and/or residency representations as may be required by the Company in accordance with Section 8(b), together with full payment of the exercise price and payment in cash of such amount as may be required to pay any and all applicable
withholding taxes. Payment of the exercise price shall be made either (i) in cash (including check, bank draft or money order), (ii) with consent of the Committee and subject to Section 7(c), by delivering the Optionee’s duly executed
promissory note, (iii) with the consent of the Committee and subject to Section 7(b), by delivering shares of Common Stock already owned by the Optionee, or (iv) by a combination of these forms of payment. Subject to compliance with Sections 7(a),
7(c) and 8(b) and with any requirements imposed by the Committee or Company under those Sections, the Company shall issue and deliver to the Optionee on the specified closing date or at the earliest practicable date after the specified closing date
one or more certificates for the number of shares of Common Stock purchased. No Optionee shall have any rights of a shareholder with respect to any shares of Common Stock until certificates for the shares have been issued. 
  
 (b)    Payment with Stock. With
the consent of the Committee, the Optionee may deliver Common Stock already owned by the Optionee, valued at Fair Market Value as of 
  

 5 

 
the closing date in full or partial payment of the exercise price of the shares of Common Stock subject to any Option; provided, however, that no Common
Stock already owned by the Optionee which is “statutory option stock” as defined in Section 424(c) (3) of the Code may be delivered in payment of the exercise price if the applicable holding period requirements for such Common Stock under
Sections 422(a) (1) or 423(a)(1) of the Code have not been met at the time of exercise. 
  
 (c)    Loans or Guaranties of Loans. The Committee may it its sole discretion assist any Optionee in the
exercise of one or more Options granted to such Optionee by (i) authorizing a loan to the Optionee from the Company or (ii) authorizing a guaranty by Company, a Subsidiary or a Parent of a third party loan to the Optionee. Except as otherwise
provided in this Section 7(c), the terms of any loan or guaranty (including the interest rate and terms of repayment) shall be established by the Committee it its sole discretion. Any loan by the Company shall, at the option of the Company, become
immediately due and payable in full upon termination of the Optionee’s employment, position as an officer or directorship with Company, or a Parent or Subsidiary of the Company, for any reason or upon a sale of any shares acquired with such
loan to the extent of the cash and fair market value of any property received by the Optionee in such sale. The Committee may determine that it will not require any loan to become immediately due and payable in the circumstance described in the
preceding sentence in advance of the event, including, without limitation, at the time of grant of the option. 
  
 8.    RESTRICTIONS ON TRANSFERS; SECURITIES LAW COMPLIANCE 
  
 (a)    Transferability of Options. No Option shall be transferable otherwise than
by will or under laws of descent and distribution, nor shall any Option be sold, pledged, assigned, hypothecated, or encumbered. Each Option shall be exercisable, during the lifetime of the Optionee, only by the Optionee. 
  
 (b)    Compliance with Securities and
Other Laws. 
  
 The Company may require investment or
residency representations from an Optionee or impose other restrictions prior and as a condition to issuance of shares to the Optionee or transfer of shares by the Optionee. Shares of Common Stock shall not be issued to any Optionee until the
Company has obtained any required approval of any governmental authority or of any stock exchange on which the Common Stock is then listed and the Company and its counsel are satisfied that the proposed issuance complies with all applicable federal
and state securities and other laws. Shares of Common Stock purchased under Options may not be transferred, sold pledged, hypothecated or encumbered except in accordance with all applicable federal, and state securities laws, rules, and regulations
and the provisions of this Plan and Stock Option Agreement, and the certificates for the shares of Common Stock issued may bear a legend to that effect. Under no circumstances shall the Company be obligated to register or qualify the shares 

  

 6 

 
of Common Stock purchased under Options with the Securities and Exchange Commission or with applicable state securities agencies. 
  
 9.    ADMINISTRATION OF PLAN 
  
 (a)    The Committee. The Plan
shall be administered by the Committee, which shall act upon majority vote. 
  
 (i) Subject to Section 9(a)(ii) below, the Committee shall consist of two or members of the Board of Directors. 
  
 (ii) If at any time any class of equity securities of the Company is registered pursuant to Section 12(b) or (g) of the Securities
Exchange Act of 1934, then, to the extent possible, the Committee shall consist of two or more directors, all of whom shall, while serving on the Committee, be “disinterested administrators, “within the meaning of the Rule 16b-3 under the
Securities Exchange Act of 1934 as at such time in effect or any other provision that may replace the Rule and be in effect at such time. 
  
 (b)    Committee Authority. To clarify the Committee’s powers and duties, but not to limit them, the
Committee has full authority and power to: 
  
 (i)
Interpret the provisions of the Plan and make rules and regulations for the administration of the Plan which are consistent with the Plan; 
  
 (ii) Decide all questions of eligibility for Plan participation and for the grant of Options; 
  
 (iii) Adopt forms of Stock Option Agreements and other
documents consistent with the Plan and, in the case of ISO’s, with Section 422 of the Code; 
  
 (iv) Engage agents to perform legal accounting and other professional services as it may deem proper for administering the Plan; and

  
 (v) Take other actions reasonably required or
appropriate to administer the Plan or to carry out the Committee activities contemplated by the Plan. 
  
 10.    EFFECTIVE DATE 
  
 The effective Date of the Plan shall be the date of its adoption by the Board of Directors; provided, however, that no Option shall be exercisable prior
to the approval of the Plan by the holders of a majority of the shares of Common Stock of the Company represented at a meeting of the shareholders at which the Plan is considered or by a majority of the shareholders by written consent. If
shareholder approval is not obtained 

  

 7 

 
within one year after the Effective Date, then the Plan and all Options shall automatically terminate on the first anniversary of the Effective Date.

  
 11.    AMENDMENT AND TERMINATION

  
 (a) The Plan. 
  
 (i) Amendment. The Board of Directors may amend the
Plan from time to time in its sole discretion; provided, however, that no amendment shall, without the approval of the shareholders of the Company in the manner provided in Section 10 and in accordance with Section 422 of the Code, (a) change the
class of persons eligible to receive Options or otherwise materially modify the requirements as to eligibility for participation in the Plan; (b) increase the aggregate number of shares of Common Stock which may be purchased upon exercise of Options
and issued under the Plan; or (c) materially increase the benefits accruing to Optionees restrictions shall be void and of no effect. Furthermore, no amendment shall impair the rights of any Optionee under any Option, without the Optionee’s
consent. 
  
 (ii) Termination. The Plan
shall terminate automatically on the tenth anniversary of the Effective Date, and the Company may terminated the Plan at any earlier time. Upon termination of the Plan, no additional Options shall be granted; provided, however, that the terms of the
Plan and Stock Option Agreements shall continue in full force and effect with respect to outstanding and unexercised Options and shares of Common Stock issued under the Plan. 
  
 (b) Options. Subject to the terms and conditions, and limitations of the Plan, the Committee may, in
its sole discretion modify, extend or renew outstanding Options or accept the surrender of outstanding Options (to the extent not exercised) and authorize the granting of new Options in substitution (to the extent not exercised). Notwithstanding the
preceding sentence, no modification of Option shall, without the consent of the Optionee, impair rights or obligations under any Option previously granted. 
  
 12.    REPURCHASE RIGHTS OF COMPANY 
  
 (a) Repurchase Rights on Termination of Employment or Directorship. In the event of the voluntary or involuntary termination of the
Optionee’s employment or directorship with the Company, a Subsidiary or a Parent, as the case may be, for any reason, whether with or without cause, the Company shall have the right to repurchase all of the shares of Common Stock acquired upon
exercise of any Option by the Optionee, his assigns, heirs, legatees, or legal representatives, together with any shares of stock issued by the Company as a dividend or other distribution on, in exchange for or upon conversion of such Common Stock
(collectively, the “Subject Shares”). Within 90 days after the termination (with respect to shares held or owned on the date of termination) or 

  

 8 

 
within 90 days after exercise of any Option after the date of termination (with respect to shares acquired after the date of termination), the Company may
give written notice to the Optionee, or if appropriate, to his assigns, heirs, legatees or legal representatives, setting forth the Company’s decision to exercise its repurchase right, the repurchase price of the Subject Shares and a date for
closing not later than 15 days from the date of the written notice. The repurchase price per share shall be the greater of (i) the Fair Market Value per share of the Subject Shares on the date of repurchase or (ii) the price per share originally
paid by the Optionee. 
  
 (b) Repurchase Rights
on Transfer, Etc. 
  
 (i) Except as provided
in the Plan, neither the Optionee nor his assigns, heirs, legatees or legal representatives shall make any Voluntary Transfer of any interest in the Subject Shares except in compliance with the Section 12(b), and all Subject Shares shall be subject
to this Section 12(b) in the event of any Involuntary Transfer. The Company shall have the right to repurchase all of the Subject Shares in the case of an Involuntary Transfer and, in the case of a Voluntary Transfer, all shares that the Optionee
designates as part of a proposed transfer (in either case referred to as the “Offered Shares”). Prior to a Voluntary Transfer, and no later than 15 days after an Involuntary Transfer, the Optionee, or his assigns, heirs, legatees, or legal
representatives, shall give written notice to the Company of such proposed or actual transfer. The written notice shall include a description of the Voluntary Transfer or Involuntary Transfer, the name of the transferee and, in the case of a
Voluntary Transfer, the price (if any) and the other terms (including complete terms of payment) of the proposed transfer. Within 30 days of the Company’s receipt of the notice, the Company may give written notice to the Optionee, or his
assigns, heirs, legatees or legal representatives, stating whether the Company elects to exercise its repurchase rights, and, if so, the repurchase price of the Offered Shares, and a date for closing not later than 15 days from the date of the
written notice. 
  
 (ii) In the case of a
Voluntary Transfer consisting of a proposed sale solely for cash, based on a bona fide firm and present offer from a party unrelated to the Optionee, his assigns, heirs, legatees, or legal representatives, which offer is made primarily for
investment purposes and not for the purpose of acquiring information concerning the Company or seeking any competitive advantage, and is not contingent on financing or otherwise, the repurchase price for the Company as to the Offered Shares shall be
a cash amount equal to the price at which the sale is proposed to be made. In the case of any other kind of Voluntary Transfer or of any Involuntary Transfer, the repurchase price per share for the Offered Shares shall be the Fair Market Value as of
the date of the Optionee’s written notice of the transfer or, if earlier, the date of the event triggering the Voluntary or Involuntary Transfer. Except with respect to a bona fide sale solely for cash, as described in the first sentence of
this Section 12(b)(ii), if the Company’s repurchase rights under Section 12(a) are in effect at the time notice of a Voluntary Transfer is given or at the time an Involuntary Transfer occurs, then 

  

 9 

 
notwithstanding the provisions of this Section 12(b)(ii) the repurchase price shall be determined as set forth in Section 12(a). 
  
 (iii) In the case of a Voluntary Transfer, if the Company (or
its designee(s) under Section 12(c)(ii)) elects to repurchase none of the Offered Shares referred to in the Optionee’s written notice to the Company, the Optionee may, within a period of 120 days from the date of delivery of notice to the
Company, dispose of all of the Offered Shares, but only to the person or persons named in the notice at the price and on the terms set forth in the notice. In any case, whether a Voluntary Transfer or an Involuntary Transfer, if the Company (or its
designee(s) does not elect to exercise its right to repurchase the Offered Shares, then the shares shall continue to be subject to repurchase under this Section 12(b) in the hands of the transferee. 
  
 (iv) A “Voluntary Transfer” means any transfer of
any interest in the Subject Shares which did not arise by operation of law (or which arises by operation of law in enforcing an agreement entered into by the holder of the Subject Shares); and includes, without limitation, a sale for cash,
obligations or any other property, a gift , a hypothecation, the exercise of a right of foreclosure or a power of sale granted in connection with a hypothecation, a transfer pursuant to an order specifically enforcing an agreement entered into by
the holder of the Subject Shares, a transfer to any person other than the Optionee pursuant to an agreement of separate maintenance of the termination of the marriage of the Optionee by divorce or dissolution, and, in the case of a non-individual
shareholder, any distribution to its shareholders, partners, beneficiaries or other holders of beneficial interests and any change in ownership resulting from a merger or other reorganization. An “Involuntary Transfer” means any transfer
of any interest in the Subject Shares which is not a Voluntary Transfer; and includes, without limitation, the transfers resulting from death of an individual shareholder, involuntary dissolution of a non-individual shareholder, an adjudication of
bankruptcy or insolvency of shareholder, the appointment of a guardian and/or conservator of the shareholder, the appointment of a guardian and/or conservator of the shareholder and any sale to satisfy a judgment (except a judgment specifically
enforcing an agreement entered into by the holder of the Subject Shares). 
  
 (c) Stock Repurchase Procedures 
  
 (i) The closing for the repurchase of any Subject or Offered Shares by the Company under this Section 12 shall take place at the Company’s principal offices. At the closing, the holder of the certificate(s) for
the shares being transferred shall deliver the certificate(s) evidencing the shares to the Company, together with a duly executed stock power, and the Company shall deliver the purchase price. The purchase price shall be payable in full in cash or
by check. 
  
 (ii) The right of the Company to
repurchase the Subject Shares or the Offered Shares shall be assignable in whole or in part by the Company to one or more persons or entities. Every designee shall have the right to exercise the repurchase rights 

  

 10 

 
in the designee’s own name for the designee’s own account and in the same manner provided for the Company; provided however, that in the case of a
Voluntary Transfer only, the designee(s) may exercise the repurchase rights with respect to fewer than all of the Offered Shares, so long as not fewer than all of the Offered Shares will be purchased by the Company and/or its designee(s) acting
together. 
  
 (iii) If any repurchase of shares
requires the consent of or a filing with or notice to the Securities and Exchange Commission or any other applicable federal or state agency charged with the administration of applicable securities laws, the time period for the closing shall be
extended for such periods as the necessary consent, filing or notice period is pending. 
  
 (iv) The company and the Optionee may waive (but not unilaterally extend) any of the time periods for the exercise of any repurchase
rights. 
  
 (d) Termination of Repurchase
Rights. The repurchase rights described in this Section 12 shall terminate and no longer be of effect with respect to any termination of the Optionee’s employment or directorship or any Voluntary or Involuntary Transfers occurring after:

  
 (i) The mutual agreement of the Company and
the Optionee or other holder of the Subject Shares or the Offered Shares; or 
  
 (ii) The effectiveness of a registration statement under the Securities Act of 1993 offering Common Stock of the Company to the general public in a bona fide, firm commitment underwriting. 
  
 (e) Certificates. So long as the repurchase rights
granted to the Company are in effect as to any Subject Shares, the certificates for the Subject Shares shall be held by the Company. 
  
 13.    MISCELLANEOUS 
  
 (a) Employment. Neither the establishment of the Plan or any amendments, nor the granting of any Options, shall in any way modify
or affect, or evidence any intention or understanding as to, the terms of employment of any Optionee with the Company, or any Subsidiary or Parent, including the duration of such employment. No person shall have a right to be granted Options or,
having been granted Options, to be selected again. 
  
 (b) Multiple Options. Subject to the terms and restrictions set forth in the Plan, an Optionee may hold more than one Option. 
  
 (c) Written Notice. Any notices required under the Plan shall be in writing and shall be given on the forms, if any, provided or
specified by the Committee. Written notice shall be effective upon actual receipt by the person to whom such notice is 

  

 11 

 
to be given; provided, however, that in the case of notices to Optionees and their assigns, heirs, legatees and legal representatives, notice shall be
effective upon delivery if delivered personally or three business days after mailing, registered first class postage prepaid to the last known address of the person to whom notice is given. Written notice shall be given to the Committee and the
Company at the following address or such other address as may be specified from time to time: 
  
 Synnex Information Technologies, Inc. 
  
 3797 Spinnaker Court 
  
 Fremont, CA 94538 
  
 Attn: Chief Financial Officer 
  
 (d) Applicable Law; Severability. The Plan shall be governed by and construed in all respects in accordance with the laws of the
State of California and, with respect to ISOs, shall be interpreted and administered in accordance with Section 422 of the Code. If any provision regarding an ISO is susceptible of more than one interpretation, it shall be interpreted in a manner
consistent with Option being treated as an ISO for federal income tax purposes. If any provisions of the Plan shall be held by a court of competent jurisdiction to be invalid or unenforceable, the remaining provisions shall continue to be fully
effective. 
  
 (e) Withholding Taxes. At or
after the time an option is exercised, in whole or in part, the Company may withhold from other payments due to Optionee, and if the payments are not sufficient, upon request of the Company the Optionee shall make adequate provision for federal and
state income tax withholding obligations, if any, of the Company, any exercise of the Option. 
  
 (f) Financial Information for Optionees. Not less often than annually, the Company shall provide each Optionee with a copy of the
annual financial statements of the Company. 
  
 14.    DEFINITIONS 
  
 (a) “Board of Directors”: The Board of Directors of the Company. 
  
 (b) “Change of Ownership”: Any (i) merger, consolidation, share exchange or reorganization of the Company with any other
corporation in which the Company is not the surviving corporation, (ii) dissolution or complete liquidation of the Company, (iii) sale of all or substantially all of the assets of the Company, or (iv) transaction (or series of related transactions)
in which there is a change in the beneficial ownership, directly or indirectly, of securities of the Company representing 50% or more of the combined voting power or value of the Company’s then outstanding equity 

  

 12 

 securities. The term “equity securities” shall have the meaning set forth in Section 3(a) (11)
of the Securities Exchange Act of 1934. 
  
 (c)
“Code”: The Internal Revenue Code of 1986, as amended, together with all regulations. 
  
 (d) “Committee”: The Compensation Committee of the Board of Directors, or if there is none, the Board of Directors. 

 
 (e) “Common Stock”: The Common Stock of the
Company or such other class or kind of shares or other securities as may be applicable pursuant to the provisions of Section 4(b) hereof. 
  
 (f) “Company”: Synnex Information Technologies, Inc. , a California corporation. 
  
 (g) “Effective Date”: The date on which the Plan
shall become effective as set forth in Section 10. 
  
 (h) “Fair Market Value”: As applied to a specific date, the fair market value of the Common Stock on such date as determined in good faith by the Committee in the following manner: 
  
 (1)    If the shares of Common Stock are
then listed on any national or regional stock exchange, the Fair Market Value shall be the mean between the high and low sales price on the date in question, or if there are no reported sales on such date, on the last preceding date on which sales
were reported; 
  
 (2)    If
the shares of Common Stock are not listed, then the Fair Market Value shall be the mean between the bid and ask prices quoted by a market maker or other recognized specialist in the shares of Common Stock at the close of the date in question.

  
 (3)    In the absence of
either of the foregoing, the Fair Market Value shall be determined by the Committee in its absolute discretion after giving consideration of the book value, the earnings history and the prospects of the Company in light of market conditions
generally. 
  
 The Fair Market Value determined in such manner
shall be final, binding and conclusive on all parties. 
  
 (i) “ISO”: A stock option intended to meet the requirements of an “incentive stock option,” as defined in Section 422 of the Code or any statutory provision that may replace such Section. 
  

 13 

 (j) “NQSO”: A stock option not intended to be an ISO and designated a
non-qualified stock option by the Committee. 
  
 (k) “Option”: Any stock option, either an ISO or NQSO, granted from time to time under the Plan. 
  
 (l) “Optionee”: An employee or director of the Company or any of its Subsidiaries who has been granted an Option, and those
heirs, legatees or legal representatives of such employee or director who may exercise an Option pursuant to Section 6(b). 
  
 (m) “Parent”: A “parent corporation” as defined in Section 424(e) of the Code, including any parent corporation which
becomes such after the Effective Date of the Plan. 
  
 (n) “Plan”: This Synnex Information Technologies, Inc., 1993 Stock Option Plan, as it may be amended from time to time. 
  
 (o) “Stock Option Agreement”: A stock option agreement evidencing an Option in a form adopted by the Committee pursuant to
Section 9(b). 
  
 (p) “Subject Shares”:
See Section 12(a). 
  
 (q) “Subsidiary”:
A “subsidiary corporation” as defined in Section 424(f) of the Code, including any subsidiary corporation which becomes such after the Effective Date of the Plan. 
  
 (r) “Voluntary Transfer” and “Involuntary Transfer”: See Section 12(b)(iv). 

 
 *     *     * 
  

 14 

 NON-QUALIFIED STOCK OPTION AGREEMENT 
 UNDER THE SYNNEX INFORMATION TECHNOLOGIES, INC. 
 1993 STOCK OPTION PLAN

  
 THIS NON-QUALIFIED STOCK OPTION AGREEMENT (the “Agreement’),
dated as of [DATE] (the date on which the Compensation Committee of the Board of Directors authorized the option grant), is entered into between Synnex Information Technologies, Inc., a California corporation (the “Company”),
and [NAME] (the “Optionee”), an employee or consultant of the Company, its Parent or a Subsidiary of the Company, under and pursuant to the Synnex Information Technologies, Inc. 1993 Stock Option Plan (the “Plan”).

  
 1.    Grant of Option. In
consideration of the services performed or to be performed by the Optionee, the Company grants the Optionee an option (the “Option”) under the Plan to purchase a total of [No. of Shares] shares of Common Stock of the Company,
upon the following terms and conditions: 
  
 (a)
The Option is granted under and pursuant to the Plan, a copy of which is attached to this Agreement and incorporated into this Agreement by reference, and the Option is subject to all of the provisions of the Plan. Capitalized terms used in this
Agreement without definition shall have the same meanings given the terms in the Plan. 
  
 (b) The Option is intended to be non-qualified stock option (“NQO”), as defined in the Internal Revenue Code of 1986, as
amended, (the “Code”) and the regulations issued under that section. 
  
 (c) The Option is not exercisable after the expiration of 10 years from the date of grant. 
  
 (d) The Option is not transferable otherwise than by will or under the laws of descent and distribution, and the Option is exercisable
during the lifetime of the Optionee only by the Optionee. 
  
 2.    Details of Option 
  
 (a) Exercise. Subject to Section 1(c) of this Agreement and all other provisions of this Agreement and the Plan applicable to exercise of the Option, the Option shall become exercisable as follows: 

 

	 # of Shares
	 	 	    	[No. of Shares]
	 Date of Grant
	 	 	    	[DATE]
	 Exercise Price
	 	 	    	$[PRICE]
	 Vesting Commencement Date
	 	 	    	Vesting at 20%
	 	 	 	    	per year starts as of ______,1996

  
 (b)
Change of Ownership. Upon a Change of Ownership (as defined in Section 14(b) of the Plan), the Company may continue or cancel the Option as described in Section 6(c) of the Plan without the consent of the Optionee. 
  
 (c) Termination of Employment or Directorship . The
Optionee, or in the event of the Optionee’s death, the Optionee’s heirs, legatees or legal representatives, as in the case may be, have rights within specified time periods subsequent to termination of the Optionee’s employment,
position as an 

  

 1 

 
officer or directorship with the Company, its Parent or its Subsidiaries, as the case may be, to exercise the Option, as described in Section 6(b) of the
Plan. 
  
 (d) Exercise Procedure. The
Option or any part of the Option may be exercised by giving written notice to the Company, in form satisfactory to the Company, which notice shall specify the number of whole shares, but in increments of no less than 500, to be purchased. The
Company shall specify a closing date, which shall not be more than 30 days after the date of the Common Stock being purchased. The exercise procedure is described in Section 7 of the Plan. 
  
 3.    Repurchasing Rights. The Company may
repurchase shares of Common Stock acquired upon exercise of the Option upon conditions specified in Section 12 of the Plan. 
  
 4.    Income Taxes. 
  
 (a) No Representations or Warranties. Neither the Company nor the Committee nor any of their representatives or agents has made any
representations or warranties to the Optionee with respect to the income tax or other consequences of the transactions contemplated by this Agreement, and the Optionee is not relying on the Company, the Committee or any of their representatives or
agents for an assessment of tax or other consequences. 
  
 (b) Early Disposition of NQO Stock. The Optionee understands that if the Optionee exercises this Option and purchases Common Stock, the Optionee will be treated for federal income tax purposes as having received ordinary income at
the time of such exercise in an amount generally equal to the difference between the amount paid for the Common Stock and the Market Value of the Common Stock. The Optionee also understands that any ordinary income so realized may be treated as
wages subject to withholding and other payroll taxes. The Optionee agrees to notify the Company in writing at least 10 days before the date of any such exercise and to pay, upon the Company’s request, to the Company on or before such exercise
any amount of withholding or other payroll taxes required to be withheld or paid by the Company or any of its Subsidiaries with respect to such disposition. 
  
 5.    Written Notice. Any written notice under this Agreement shall be given in the matter and shall be effective on the date
provided in Section 13(c) of the Plan. 
  
 6.    Employment or Other Relationship. Neither the establishment of the Plan or any amendments, nor the granting of any Options, shall in any way modify or affect, or evidence any intention or understanding as
to, the terms of employment of any Optionee with Company, or any Subsidiary or Parent, including the duration of such employment. Except as provided to the contrary in any written agreement between the Optionee and the Company, the Optionee may be
terminated at any time by the Company, or any Subsidiary or Parent, and such termination may be with or without cause. No person shall have the right to be granted Options or having been granted Options, to be selected again. 
  
 7.    Miscellaneous. This Agreement shall bind and
insure to the benefit of the Company and its successors and assigns, and the Optionee and any heir, legatee, or legal representative of the Optionee, This Agreement shall be interpreted under and governed by and construed in accordance with the laws
of the State of California. 
  

 2 

 IN WITNESS WHEREOF, the parties have executed this Agreement in duplicate as of the day and year first
above written. 
  

	Synnex Information Technologies, Inc.
		
	 By:
	 	  

		
	 Its:
	 	  

  

	Optionee
		
	 Signed:
	 	  

	 	 	[NAME]

  
 Spousal
Consent 
  
 The undersigned has read and is familiar with
the preceding Incentive Stock Option Agreement and consents and agrees to be bound by all the terms of the Agreement and the Plan as if the undersigned had signed the Agreement. Without limiting the effect of the preceding sentence, the undersigned
specifically agrees that the Company may rely on any authorization, instruction or election made under the Agreement by the Optionee alone and that all of his or her right, title or interest, if any, in the Common Stock purchased by the Optionee
under the Agreement, whether arising by operation of community property law, by property settlement or otherwise, shall be subject to all of such terms. 
  

		
	 Signed:
	 	  

  

	 Print Name:
	 	  

  
 Exhibit
A:    Copy of the Plan 
  
  

 3 

 INCENTIVE STOCK OPTION AGREEMENT 
 UNDER THE SYNNEX INFORMATION TECHNOLOGIES, INC. 
 1993 STOCK OPTION PLAN

  
 THIS INCENTIVE STOCK OPTION AGREEMENT (the “Agreement’), dated
as of [DATE] (the date on which the Compensation Committee of the Board of Directors authorized the option grant), is entered into between Synnex Information Technologies, Inc., a California corporation the “Company”), and
[NAME] (the “Optionee”), an employee of the Company, its Parent or a Subsidiary of the Company, under and pursuant to the Synnex Information Technologies, Inc. 1993 Stock Option Plan (the “Plan”). 
  
 1.    Grant of Option. In consideration of the
services performed or to be performed by the Optionee, the Company grants the Optionee an option (the “Option”) under the Plan to purchase a total of xxxxx shares of Common Stock of the Company, upon the following terms and
conditions: 
  
 (a) The Option is granted under
and pursuant to the Plan, a copy of which is attached to this Agreement and incorporated into this Agreement by reference, and the Option is subject to all of the provisions of the Plan. Capitalized terms used in this Agreement without definition
shall have the same meanings given the terms in the Plan. 
  
 (b) Except as provided in Section 6(b) of the Plan, the Option is intended to be an incentive stock option (“ISO”), as defined in Section 422 of the Internal Revenue Code of 1986, as amended, (the
“Code”) and the regulations issued under that section. 
  
 (c) The Option is not exercisable after the expiration of 10 years from the date of grant. 
  
 (d) The Option is not transferable otherwise than by will or under the laws of descent and distribution, and the Option is exercisable
during the lifetime of the Optionee only by the Optionee. 
  
 2.    Details of Option 
  
 (a) Exercise. Subject to Section 1(c) of this Agreement and all other provisions of this Agreement and the Plan applicable to exercise of the Option, the Option shall become exercisable as follows: 

 

	# of Shares	 	xxxxx
	Date of Grant	 	[DATE]
	Exercise Price	 	$[PRICE]
	Vesting Commencement Date	 	Vesting at 20%
	 	 	per year starts as of                     , 1996

  
  

 1 

 (b) Change of Ownership. Upon a Change of Ownership (as defined in Section 14(b)
of the Plan), the Company may continue or cancel the Option as described in Section 6(c) of the Plan without the consent of the Optionee. 
  
 (c) Termination of Employment or Directorship. The Optionee, or in the event of the Optionee’s death, the Optionee’s
heirs, legatees or legal representatives, as in the case may be, have rights within specified time periods subsequent to termination of the Optionee’s employment, position as an officer or directorship with the Company, its Parent or its
Subsidiaries, as the case may be, to exercise the Option, as described in Section 6(b) of the Plan. 
  
 (d) Exercise Procedure. The Option or any part of the Option may be exercised by giving written notice to the Company, in form
satisfactory to the Company, which notice shall specify the number of whole shares, but in increments of no less than 500, to be purchased. The Company shall specify a closing date, which shall not be more than 30 days after the date of the Common
Stock being purchased. The exercise procedure is described in Section 7 of the Plan. 
  
 3.    Repurchasing Rights. The Company may repurchase shares of Common Stock acquired upon exercise of the Option upon conditions specified in Section 12 of the Plan. 
  
 4.    Income Taxes. 
  
 (a) No Representations or Warranties. Neither the
Company nor the Committee nor any of their representatives or agents has made any representations or warranties to the Optionee with respect to the income tax or other consequences of the transactions contemplated by this Agreement, and the Optionee
is not relying on the Company, the Committee or any of their representatives or agents for an assessment of tax or other consequences. 
  
 (b) Early Disposition of ISO Stock. The Optionee understands that if the Optionee disposes of any shares of Common Stock acquired
under this Option as an ISO within two years after the date of this Agreement or within one year after the shares are transferred to the Optionee, the Optionee will be treated for federal income tax purposes as having received ordinary income at the
time of such disposition in an amount generally equal to the lesser of (1) the excess of the Fair Market Value of such shares of Common Stock on the date of the exercise of the Option or subsequent date of vesting under Section 83 of the Code over
the exercise price paid for such shares, or (2) the gain realized upon the disposition of such shares. The Optionee also understands that any ordinary income so realized may be treated as wages subject to withholding and other payroll taxes. The
Optionee agrees to notify the Company in writing at least 10 days before the date of any such early disposition and to pay, upon the Company’s request, to the Company on or before such disposition any amount of withholding or other payroll
taxes required to be withheld or paid by the Company or any of its Subsidiaries with respect to such disposition. 
  
 5.    Written Notice. Any written notice under this Agreement shall be given in the matter and shall be effective on the date
provided in Section 13(c) of the Plan. 
  

 2 

 6.    Employment or Other Relationship. Neither the establishment of the Plan
or any amendments, nor the granting of any Options, shall in any way modify or affect, or evidence any intention or understanding as to, the terms of employment of any Optionee with Company, or any Subsidiary or Parent, including the duration of
such employment. Except as provided to the contrary in any written agreement between the Optionee and the Company, the Optionee may be terminated at any time by the Company, or any Subsidiary or Parent, and such termination may be with or without
cause. No person shall have the right to be granted Options or having been granted Options, to be selected again. 
  
 7.    Miscellaneous. This Agreement shall bind and insure to the benefit of the Company and its successors and assigns, and the
Optionee and any heir, legatee, or legal representative of the Optionee, This Agreement shall be interpreted under and governed by and construed in accordance with the laws of the State of California. 
  
 IN WITNESS WHEREOF, the parties have executed this Agreement in duplicate as
of the day and year first above written. 
  

	Synnex Information Technologies, Inc.
		
	 By:
	 	  

	 	 	 
	 Its:
	 	  

  

	Optionee
		
	 Signed:
	 	  

	 	 	[NAME]

  
 Exhibit
A:    Copy of the Plan 
  

 3 

 Spousal Consent 
  
 The undersigned has read and is familiar with the preceding Incentive Stock Option Agreement and consents and agrees to be
bound by all the terms of the Agreement and the Plan as if the undersigned had signed the Agreement. Without limiting the effect of the preceding sentence, the undersigned specifically agrees that the Company may rely on any authorization,
instruction or election made under the Agreement by the Optionee alone and that all of his or her right, title or interest, if any, in the Common Stock purchased by the Optionee under the Agreement, whether arising by operation of community property
law, by property settlement or otherwise, shall be subject to all of such terms. 
  

		
	 Signed:
	 	  

	 	 	 
		
	 Print Name:
	 	  

  
 Exhibit
A:    Copy of the Plan 
  

 4

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