Document:

Unassociated Document

    

    

    WAIVER TO CREDIT
AGREEMENT

    

    WAIVER TO
AMENDED AND RESTATED CREDIT AGREEMENT dated as of May 4, 2010 (the “Waiver”) by
and among NU HORIZONS ELECTRONICS CORP., a Delaware corporation having its
executive offices at 70 Maxess Road, Melville, New York (the “Borrower”), each
of the lenders that is a signatory thereto identified under the caption “Lenders” on the
signature pages to the Credit Agreement (as defined below) (individually, a
“Lender”, and collectively, the “Lenders”), BANK OF AMERICA, N.A., a national
banking association, as  Documentation Agent for the Lenders, JPMORGAN
CHASE BANK, N.A., a national banking association, as Syndication Agent for the
Lenders, ISRAEL DISCOUNT BANK OF NEW YORK, a New York bank, as Syndication Agent
for the Lenders and CITIBANK, N.A., a national banking association, as
administrative agent for the Lenders (the “Administrative Agent”).

    

    RECITALS

    

    The
Borrower, the Lenders, the Documentation Agent, the Syndication Agents and the
Administrative Agent entered into an Amended and Restated Credit Agreement dated
as of January 31, 2007, as amended by a Consent and First Amendment to Credit
Agreement dated as of June 6, 2007, a Second Amendment dated as of January 4,
2008, a Third Amendment dated as of May 30, 2008, a Fourth Amendment dated
August 29, 2008 and a Fifth Amendment dated as of April 27, 2009 (collectively,
the “Credit Agreement”), pursuant to which certain financial accommodations were
made available to the Borrower.

    

    WHEREAS,
the Borrower has requested that the Administrative Agent and the Required
Lenders agree to waive compliance with a provision of the Credit Agreement;
and

    

    WHEREAS,
the Administrative Agent has obtained the consent of the Required Lenders to
execute this Waiver, but only upon the terms and conditions set forth
herein;

    

    NOW, THEREFORE, for valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and
in consideration of the premises contained herein, the parties hereto agree as
follows:

    

    Section 1. 
Definitions.  Except
as otherwise defined in this Waiver, terms defined in the Credit Agreement are
used herein as defined therein.

    

    Section 2. 
Waiver. The
Lenders hereby waive non-compliance with Section 7.8 of the Credit Agreement to
the extent that NIC Components Asia Pte Ltd, a Subsidiary of the Borrower, paid
a dividend of $135,831 during the third quarter of Borrower’s fiscal year ended
February 28, 2010, to an unaffiliated Person, Nippon Industries Co., Ltd., a
minority owner of such Subsidiary.

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    Section 3. 
Condition Precedent.
The waiver set forth in Section 2 hereof shall become effective, on the
date of this Waiver, upon the execution and delivery of this Waiver by the
Borrower, the Administrative Agent and each of the Required
Lenders.

    

    Section 4. 
Representations and
Warranties.  The Borrower represents and warrants to the
Lenders that the representations and warranties set forth in the Credit
Agreement and in the other Loan Documents are true and complete on the date of
this Waiver and as if made on and as of the date hereof (or, if such
representation or warranty is expressly stated to have been made as of a
specific date, as of such specific date).

    

    Section 5. 
Borrower’s
Acknowledgments.  The Borrower acknowledges and agrees that the
Borrower has no claims, counterclaims, offsets, or defenses to the Loan
Documents and the performance of the Borrower’s obligations thereunder or if the
Borrower did have any such claims, counterclaims, offsets or defenses to the
Loan Documents or any transaction related to the Loan Documents, the same are
hereby waived, relinquished and released in consideration of execution and
delivery of this Waiver.

    

    Section 6. 
Acknowledgement of
Guarantors.  The Guarantors acknowledge and consent to all of
the terms and conditions of this Waiver and agree that this Waiver and all
documents executed in connection herewith do not operate to reduce or discharge
the Guarantors’ obligations under the Credit Agreement or the other Loan
Documents.  The Guarantors further acknowledge and agree that the
Guarantors have no claims, counterclaims, offsets, or defenses to the Loan
Documents and the performance of the Guarantors’ obligations thereunder or if
the Guarantors did have any such claims, counterclaims, offsets or defenses to
the Loan Documents or any transaction related to the Loan Documents, the same
are hereby waived, relinquished and released in consideration of execution and
delivery of this Waiver.

    

    Section 7. 
Governing Law;
Execution in Counterparts.  Except as herein provided, the
Credit Agreement shall remain unchanged and in full force and
effect.  This Waiver may be executed in any number of counterparts,
all of which taken together shall constitute one and the same instrument and any
of the parties hereto may execute this Waiver by signing any such
counterpart.  This Waiver shall be governed by, and construed in
accordance with, the internal laws of the State of New York (without regard to
New York conflicts of laws principles).

    

    Section 8. 
Releases. 
By signing below, the Borrower and each Subsdiary on its own behalf and on
behalf of its successors and assigns hereby releases (i) each Lender and the
Administrative Agent and all of the affiliates of each Lender and the
Administrative Agent, and each of their respective successors and assigns, and
(ii) all of the shareholders, directors, officers, employees, attorneys, agents
and representatives of each Lender and the Administrative Agent and such
affiliates, and their respective heirs, executors, successors and assigns
(collectively, the “Released Persons”),
from any and all claims, demands, liabilities, actions and causes of action of
any nature whatsoever, whether liquidated or unliquidated, known or unknown,
matured or unmatured, fixed or contingent which Borrower or any Subsidiary had,
has or may have had against any of the Released Persons arising out of or in any
way relating to the Credit Agreement or any Loan Document or any document,
dealing or other matter in connection with any Loan Document or any Collateral
referenced therein, in each case to the extent arising on or prior to the date
hereof or out of, or relating to, actions, dealings or other matters occurring
prior to the date hereof (including any action or omission of any Released
Person prior to the date hereof), the negotiation and documentation of this
Waiver, and any of the transactions made or contemplated to be made hereunder or
thereunder (collectively the “Released Claims”).
Borrower and each Subsidiary acknowledges and agrees that (i) this release may
be pleaded as a full and complete defense and may be used as a basis for an
injunction against any action, suit or other proceeding which may be instituted,
prosecuted or attempted in breach of the provisions of such release; and (ii) no
fact, event, circumstance, evidence or transaction which could now be asserted
or which may hereafter be discovered shall affect in any manner the final and
unconditional nature of such releases.

     

    
      
        
        

      

      
        - 2
-

        
          

        

      

      
        
        

      

    

     

    Section 9. 
Expenses,
etc.  The Borrower agrees to pay or reimburse the
Administrative Agent for all reasonable out-of-pocket costs and expenses of the
Administrative Agent (including, without limitation, the reasonable fees and
expenses of Certilman Balin Adler & Hyman, LLP) in connection with the
negotiation, preparation, execution and delivery of this Waiver and the
transactions contemplated hereby.

    

    Section 10. 
Effective
Date.  This Waiver is dated for convenience as of May 4, 2010
and shall be effective as of such date, on the delivery of an executed
counterpart to the Borrower upon satisfaction of the conditions precedent
contained in Section 3 hereof.

    

    

    [REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

     

     

     

    
 

    
      
        
        

      

      
        - 3
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    IN WITNESS WHEREOF, the
parties hereto have caused this Waiver to Credit Agreement to be duly executed
and delivered by their duly authorized officers, all as of the day and year
first above written.

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    	 
      	 
      	 
      	 
	 
      	
                                            Borrower:

                                          	 
	 
      	 
      	 
      	 
	 
      	
                                            NU
      HORIZONS ELECTRONICS CORP.

                                          	 
	 
      	 
      	 
      	 
	 
      	
                                            By:

                                          	
                                            /s/
      Kurt Freudenberg

                                          	 
	 
      	 
      	
                                            Kurt
      Freudenberg

                                          	 
	 
      	 
      	
                                            Executive
      Vice President, Treasurer and

                                          	 
	 
      	 
      	
                                            Chief
      Financial Officer

                                          	 
	 
      	 
      	 
      	 
	 
      	
                                            Guarantors:

                                          	 
	 
      	 
      	 
      	 
	 
      	
                                            NIC
      COMPONENTS CORP.

                                          	 
	 
      	 
      	 
      	 
	 
      	
                                            By:

                                          	
                                            /s/
      Kurt Freudenberg

                                          	 
	 
      	 
      	
                                            Kurt
      Freudenberg

                                          	 
	 
      	 
      	
                                            Executive
      Vice President, Treasurer and

                                          	 
	 
      	 
      	
                                            Chief
      Financial Officer

                                          	 
	 
      	 
      	 
      	 
	 
      	
                                            NU
      HORIZONS INTERNATIONAL CORP.

                                          	 
	 
      	 
      	 
      	 
	 
      	
                                            By:

                                          	
                                            /s/
      Kurt Freudenberg

                                          	 
	 
      	 
      	
                                            Kurt
      Freudenberg

                                          	 
	 
      	 
      	
                                            Executive
      Vice President, Treasurer and

                                          	 
	 
      	 
      	
                                            Chief
      Financial Officer

                                          	 
	 
      	 
      	 
      	 
	 
      	
                                            TITAN
      SUPPLY CHAIN SERVICES CORP.

                                          	 
	 
      	 
      	
                                             
      

                                          	 
	 
      	
                                            By:

                                          	
                                            /s/
      Kurt Freudenberg

                                          	 
	 
      	 
      	
                                            Kurt
      Freudenberg

                                          	 
	 
      	 
      	
                                            Executive
      Vice President, Treasurer and

                                          	 
	 
      	 
      	
                                            Chief
      Financial Officer

                                          	 
	 
      	 
      	 
      	 
	 
      	
                                            RAZOR
      ELECTRONICS, INC.

                                          	 
	 
      	 
      	 
      	 
	 
      	
                                            By:

                                          	
                                            /s/
      Kurt Freudenberg

                                          	 
	 
      	 
      	
                                            Kurt
      Freudenberg

                                          	 
	 
      	 
      	
                                            Executive
      Vice President, Treasurer and

                                          	 
	 
      	 
      	
                                            Chief
      Financial Officer

                                          	 
	 
      	 
      	 
      	 

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    

     

    
      
        
        

      

      
        - 4
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                                                      NuXCHANGE
      B2B SERVICES, INC.

                                                    	 
	 
      	 
      	 
      	 
	 
      	
                                                      By:

                                                    	
                                                      
                                                        /s/
      Kurt
      Freudenberg

                                                      

                                                    	 
	 
      	 
      	
                                                      Kurt
      Freudenberg

                                                    	 
	 
      	 
      	
                                                      Executive
      Vice President, Treasurer and

                                                    	 
	 
      	 
      	
                                                      Chief
      Financial Officer

                                                    	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	
                                                      Notice
      Addresses:

                                                    	
                                                      Lenders:

                                                    	 
	 
      	 
      	 
      	 
	
                                                      CITIBANK,
      N.A.

                                                    	
                                                      CITIBANK,
      N.A.

                                                    	 
	
                                                      730
      Veterans Memorial Highway

                                                    	
                                                      as
      Administrative Agent and Lender

                                                    	 
	
                                                      Hauppauge,
      NY 11788

                                                    	 
      	 
      	 
	 
      	
                                                      By:

                                                    	
                                                      /s/
      Stuart N. Berman

                                                    	 
	 
      	 
      	
                                                      Stuart
      N. Berman

                                                    	 
	 
      	 
      	
                                                      Vice
      President

                                                    	 
	 
      	 
      	 
      	 
	
                                                      ISRAEL
      DISCOUNT BANK OF NEW YORK

                                                    	
                                                      ISRAEL
      DISCOUNT BANK OF NEW YORK

                                                    	 
	
                                                      511
      Fifth Avenue

                                                    	
                                                      as
      Syndication Agent and Lender

                                                    	 
	
                                                      New
      York, NY 10017

                                                    	 
      	 
      	 
	 
      	
                                                      By:

                                                    	
                                                      /s/
      David Acosta 

                                                    	 
	 
      	 
      	
                                                      David
      Acosta

                                                    	 
	 
      	 
      	
                                                      Senior
      Vice President

                                                    	 
	 
      	 
      	 
      	 
	 
      	
                                                      By:

                                                    	
                                                      /s/
      Richard R. Tripaldi

                                                    	 
	 
      	 
      	
                                                      Richard
      R. Tripaldi

                                                    	 
	 
      	 
      	
                                                      Vice
      President

                                                    	 
	 
      	 
      	 
      	 
	
                                                      BANK
      OF AMERICA, N.A.

                                                    	
                                                      BANK
      OF AMERICA, N.A.

                                                    	 
	
                                                      1185
      Avenue of the Americas

                                                    	
                                                      as
      Documentation Agent and Lender

                                                    	 
	
                                                      New
      York, NY 10036

                                                    	 
      	 
      	 
	 
      	
                                                      By:

                                                    	
                                                      /s/
      Steven J. Melicharek

                                                    	 
	 
      	 
      	
                                                      Steven
      J. Melicharek

                                                    	 
	 
      	 
      	
                                                      Senior
      Vice President

                                                    	 
	 
      	 
      	 
      	 
	
                                                      JPMORGAN
      CHASE BANK, N.A.

                                                    	
                                                      JPMORGAN
      CHASE BANK, N.A.

                                                    	 
	
                                                      395
      North Service Road, Floor 3

                                                    	
                                                      as
      Syndication Agent and Lender

                                                    	 
	
                                                      Melville,
      NY 11747

                                                    	 
      	 
      	 
	 
      	
                                                       By:

                                                    	 
      	 
	 
      	 
      	
                                                      Alicia
      T. Schreibstein

                                                    	 
	 
      	 
      	
                                                      Vice
      President

                                                    	 
	 
      	 
      	 
      	 
	
                                                      HSBC
      BANK USA, NATIONAL

                                                    	
                                                      HSBC
      BANK USA, NATIONAL

                                                    	 
	
                                                      ASSOCIATION

                                                    	
                                                      ASSOCIATION

                                                    	 
	
                                                      534
      Broad Hollow Road

                                                    	 
      	 
      	 
	
                                                      Melville,
      NY 11747

                                                    	
                                                      By:

                                                    	
                                                       
      

                                                    	 
	 
      	 
      	
                                                      Christopher
      Mendolsohn

                                                    	 
	 
      	 
      	
                                                      Commercial
      Executive

                                                    	 
	 
      	 
      	 
      	 

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    

    

    
      
        
        

      

      
        - 5
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                                      CAPITAL
      ONE, N.A.,

                                    	 
	
                                      CAPITAL
      ONE, N.A.,

                                    	 
      	 
      	 
	
                                      275
      Broadhollow Road

                                    	
                                      formerly
      known as North Fork Bank

                                    	 
	
                                      Melville,
      NY 11747

                                    	 
      	 
      	 
	 
      	
                                      By:

                                    	
                                      /s/
      Philip Davi

                                    	 
	 
      	 
      	
                                      Philip
      Davi

                                    	 
	 
      	 
      	
                                      Senior
      Vice President

                                    	 
	 
      	 
      	 
      	 
	
                                      BANK
      LEUMI USA

                                    	
                                      BANK
      LEUMI USA

                                    	 
	
                                      562
      Fifth Ave.

                                    	 
      	 
      	 
	
                                      New
      York, NY 10036

                                    	
                                      By:

                                    	
                                      /s/
      Francine Davis

                                    	 
	 
      	 
      	
                                      Francine
      Davis

                                    	 
	 
      	 
      	
                                      Vice
      President

                                    	 
	 
      	 
      	 
      	 
	 
      	
                                      By:

                                    	
                                      /s/
      Eric A. Halpern

                                    	 
	 
      	 
      	
                                      Eric
      A. Halpern

                                    	 
	 
      	 
      	
                                      Senior
      Vice President and Group Head

                                    	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	
                                      SOVEREIGN
      BANK

                                    	
                                      SOVEREIGN
      BANK

                                    	 
	
                                      330
      South Service Road

                                    	 
      	 
      	 
	
                                      Melville,
      NY 11747

                                    	
                                      By:

                                    	
                                       

                                    	 
	 
      	 
      	
                                      Christine
      Gerula

                                    	 
	 
      	 
      	
                                      Senior
      Vice President

                                    	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
	
                                      NEW
      YORK COMMERCIAL BANK

                                    	
                                      NEW
      YORK COMMERCIAL BANK

                                    	 
	
                                      1
      Jericho Plaza

                                    	 
      	 
      	 
	
                                      Jericho,
      NY 11753

                                    	
                                      By:

                                    	
                                      /s/
      Eric C. Bukowski

                                    	 
	 
      	 
      	
                                      Eric
      C. Bukowski

                                    	 
	 
      	 
      	
                                      Vice
      President

                                    	 

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    

     

    
      
        
        

      

      
        - 6
-NU
HORIZONS ELECTRONICS CORP.

    KEY
EMPLOYEE CHANGE-IN-CONTROL SEVERANCE AGREEMENT

    

    This
Agreement is effective as of the 3rd day of April, 2008 by and between Nu
Horizons Electronics Corp., a Delaware corporation with its principal place of
business at 70 Maxess Road, Melville, New York 11747 (the “Company”), and
Stephen A. Mussmacher (the “Employee”). Any reference to “Company” herein shall
mean Nu Horizons Electronics Corp. or any successor thereto.

    

    WHEREAS,
the Employee holds a key position with the Company; and

    

    WHEREAS,
the Company recognizes the substantial contributions the Employee has made to
the Company in such position; and

    

    WHEREAS,
the Company now wishes to provide reasonable severance protection to the
Employee in the event of any future “Change-in-Control” of the Company as
defined herein; and

    

    WHERAS,
the Employee and the Company understand that any severance payments made to the
Employee may be subject to the requirements of Section 409A of the Internal
Revenue Code of 1986, as amended (the “Code”);

    

    NOW,
THEREFORE, in consideration of the continued service of the Employee and the
mutual covenants and agreements herein contained, the Company and the Employee
hereby agree as follows:

    

    
      	
               
      

            	
              1.

            	
              Term
      of Agreement; Employment Status

            

    

    

    (a)           This
Agreement shall be in effect from the effective date hereof throughout the
period of the Employee’s employment with the Company.  In the event of
a “Change-in-Control” of the Company (as defined herein), this Agreement shall
remain in effect until the later of (i) twelve months following the date of such
“Change-in-Control” or (ii) the date on which the Employee receives payment in
full of the severance compensation payable to Employee by the Company pursuant
to Section 2 of this Agreement.

    

    (b)           Notwithstanding
the above, the parties hereby agree that the Employee’s employment is “at-will”
and can be terminated by either party (with or without cause) at any
time.  The benefits provided hereunder shall be in addition to the
Employee’s annual salary, as determined by the Board of Directors of the
Company, and shall not (i) affect the right of the Employee to participate in
any current or future Company retirement plan or in any supplemental
compensation arrangement which constitutes a part of the Company’s regular
compensation structure, or (ii) be deemed salary or other compensation to the
Employee for the purpose of computing benefits to which the Employee may be
entitled under any retirement plan or other arrangement maintained by the
Company for the benefit of its employees.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              2.

            	
              Payments
      to Employee Following a
Change-in-Control

            

    

    

    In the
event of the complete termination by the Company of Employee’s employment (as
contemplated under Code Section 409A)  within one year following a
“Change-in-Control” (as defined below) of the Company, the Company shall pay
Employee, within thirty (30) days of the termination of employment (subject to
Section 4 below), an amount equal to the average of the base salary paid to the
Employee for the three (3) preceding fiscal years (calculated by adding the base
salary paid for each of the three (3) preceding completed fiscal years and
dividing the sum by three (3), with the quotient equaling the amount to be
paid). All amounts
paid to the Employee under this Section shall be paid in twelve equal
installments over the twelve-month period commencing on the date of such
termination, shall be treated as additional compensation and the Company shall
have the right to deduct any taxes required by law to be withheld with respect
to such amounts.

    

    
      	
               
      

            	
              3.

            	
              Definition
      of Change in Control

            

    

    

    As used
herein “Change-in-Control” means (a) a change in control as such term is
presently defined in Regulation 240.12b-2 under the Securities Exchange Act of
1934 ("Exchange Act"); or (b) if any “person” (as such term is used in Section
13(d) and 14(d) of the Exchange Act) (other than any “person” who on the date of
this Agreement is a director or officer of the Company), becomes the “beneficial
owner” (as defined in Rule 13(d)-3 under the Exchange Act), directly or
indirectly, of securities of the Company representing twenty (20%) percent of
the voting power of the Company’s then outstanding securities, as the case may
be, other than as a result of an acquisition of such securities from or by the
Company; or (c) if during any period of two (2) consecutive years during the
term of Employee's employment, individuals who at the beginning of such period
constitute the Board of Directors of the Company cease for any reason to
constitute at least a majority thereof.

    

    
      	
               
      

            	
              4.

            	
              Specified
      Employee

            

    

    

    In the
event the Employee is classified as a “Specified Employee” as of the date of
termination of employment, as such term is defined in Code Section 409A and the
regulations thereunder, and provided that the payment required pursuant to
Section 2 hereof is determined to be subject to Code Section 409A, then
notwithstanding the terms of Section 2, such payment shall commence on the first
day of the seventh month following the date of the Employee’s termination of
employment.

    

    
      	
               
      

            	
              5.

            	
              Entire
      Agreement; Modification

            

    

    

    This
Agreement constitutes the full and complete understanding of the parties hereto
and will supersede all prior agreements and understandings, oral or written,
with respect to the subject matter hereof.  Each party to this
Agreement acknowledges that no representations, inducements, promises or
agreements, oral or otherwise, have been made by either party, or anyone acting
on behalf of either party, which are not embodied herein and that no other
agreement, statement or promise not contained in this Agreement shall be valid
or binding.  This Agreement may not be modified or amended except by
an instrument in writing signed by the party against whom or which enforcement
may be sought.

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    
      	
               
      

            	
              6.

            	
              Severability

            

    

    

    Any term
or provision of this Agreement which is invalid or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such invalidity or unenforceability without rendering invalid or unenforceable
the remaining terms and provisions of this Agreement or affecting the validity
or enforceability of any of the terms of provisions of this Agreement in any
other jurisdiction.

    

    
      	
               
      

            	
              7.

            	
              Notices

            

    

    

    All
notices hereunder shall be in writing and shall be deemed to have been duly
given when delivered by hand, or one day after sending by express mail or other
"overnight mail service," or three days after sending by certified or registered
mail, postage prepaid, return receipt requested.  Notice shall be sent
as follows: if to Employee, to the address as listed in the Company's records;
and if to the Company, to the Company at its office as set forth at the head of
this Agreement, to the attention of its Chief Employee
Officer.  Either party may change the notice address by notice given
as aforesaid.

    

    
      	
               
      

            	
              8.

            	
              Assignability;
      Binding Effect

            

    

    

    This
Agreement shall be binding upon and inure to the benefit of Employee and
Employee’s legal representatives, heirs and distributees, and shall be binding
upon and inure to the benefit of the Company, its successors and
assigns.  This Agreement may not be assigned by the
Employee.  This Agreement may not be assigned by the Company except in
connection with a merger or a sale by the Company of all or substantially all of
its assets and then only provided the assignee specifically assumes in writing
all of the Company's obligations hereunder.

    

    
      	
               
      

            	
              9.

            	
              Governing
      Law; Jurisdiction

            

    

    

    (a)           All
issues pertaining to the validity, construction, execution and performance of
this Agreement shall be construed and governed in accordance with the laws of
the State of New York, without giving effect to the conflict or choice of law
provisions thereof and by the provisions of the Code, including without
limitation, Section 409A of the Code, the Treasury Regulations promulgated
thereunder, and any other applicable pronouncements issued by the Internal
Revenue Service (“IRS”).  This Agreement is intended to comply, and be
administered and interpreted in a manner consistent, with the requirements of
Section 409A of the Code, the Treasury Regulations promulgated thereunder, and
any other applicable pronouncements issued by the IRS, and are intended to be a
good faith, reasonable interpretation thereof.

    

    (b)           Employee
hereby irrevocably submits to the jurisdiction of the state or Federal courts
located in Nassau County, New York in connection with any suit, action or other
proceeding arising out of or relating to this Agreement and hereby agrees not to
assert, by way of motion, as a defense, or otherwise in any such suit, action or
proceeding that the suit, action or proceeding is brought in an inconvenient
forum, that the venue of the suit, action or proceeding is improper or that this
agreement or the subject matter hereof may not be enforced by such
courts.

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    
      
        	
              	
                10.

              	
                Headings

              

      

    

    

    The
headings in this Agreement are intended solely for convenience of reference and
shall be given no effect in the construction or interpretation of this
Agreement.

    

    
      
        	
              	
                11.

              	
                Counterparts

              

      

    

    

    This
Agreement may be executed in several counterparts, each of which shall be deemed
to be an original but all of which together shall constitute one and the same
instrument.

    

    IN
WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by an
authorized officer and Employee has hereunto set his or her hand as of the date
first set forth above.

    
 

    
      
        
          
            
              
                
                  
                    
                      
                        
                          	 
      	
                                  NU
      HORIZONS ELECTRONICS CORP.

                                	 
	 
      	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
      	 
	 
      	
                                  By:

                                	
                                  /s/
      Kurt Freudenberg

                                	 
	 
      	 
      	
                                  Name:

                                	
                                  Kurt
      Freudenberg

                                	 
	 
      	 
      	
                                  Title:

                                	
                                  Executive
      Vice President 

                                  and
      Chief Financial Officer

                                	 
	 
      	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
      	 
	 
      	
                                  /s/
      Stephen A. Mussmacher

                                	 
	 
      	
                                  Employee:
      Stephen A. Mussmacher

                                	 

                        

                      

                    

                  

                

              

            

          

        

      

    

    

    

     

    
      
         

      

      
        4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00173-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00173-of-00352.parquet"}]]