SEC Contract Filing

Filing Date: 2019-05-02

Document Content:
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<TYPE>EX-10.B
<SEQUENCE>3
<FILENAME>arwexhibit10bq119.htm
<DESCRIPTION>EXHIBIT 10.B
<TEXT>
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<div><a name="sC76EA67671DA6130205151E1E0194C12"></a></div><div><div style="line-height:130%;padding-bottom:10px;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Exhibit 10(b)</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:24px;text-align:center;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;font-weight:bold;">Arrow Electronics, Inc. <br>Restricted Stock Unit Award Agreement</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;font-weight:bold;">Executive Committee</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">Grantee:&#160;&#160;&#160;&#160;</font><font style="font-family:Arial;font-size:11pt;font-weight:bold;">PARTICIPANT NAME</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">Grant Date:&#160;&#160;&#160;&#160;</font><font style="font-family:Arial;font-size:11pt;font-weight:bold;">GRANT DATE</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">Number of Restricted <br>Stock Units:&#160;&#160;&#160;&#160;</font><font style="font-family:Arial;font-size:11pt;font-weight:bold;">&#32;SHARES GRANTED</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">THIS RESTRICTED STOCK UNIT AWARD AGREEMENT (the &#8220;Agreement&#8221;) dated as of </font><font style="font-family:Arial;font-size:11pt;font-weight:bold;">GRANT DATE</font><font style="font-family:Arial;font-size:11pt;">&#32;is between Arrow Electronics, Inc., a New York corporation (the &#8220;Company&#8221; or &#8220;Arrow&#8221;), and </font><font style="font-family:Arial;font-size:11pt;font-weight:bold;">PARTICIPANT NAME</font><font style="font-family:Arial;font-size:11pt;">&#32;(the &#8220;Grantee&#8221; or &#8220;you&#8221;). In consideration of mutual promises and covenants made in this Agreement and the mutual benefits to be derived from this Agreement, the Company and Grantee agree as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;">Subject to the provisions of this Agreement and the provisions of the Arrow Electronics, Inc. 2004 Omnibus Incentive Plan (the &#8220;Plan&#8221;), the Company hereby grants to Grantee the number of restricted stock units shown above (the &#8220;Restricted Stock Units&#8221;) as of </font><font style="font-family:Arial;font-size:11pt;font-weight:bold;">GRANT DATE</font><font style="font-family:Arial;font-size:11pt;">&#32;(the &#8220;Grant Date&#8221;). Capitalized terms used and not defined in this Agreement have the meanings given to them in the Plan.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:Arial;font-size:11pt;padding-right:48px;">1.</font><font style="font-family:Arial;font-size:11pt;text-decoration:underline;">Vesting Generally</font><font style="font-family:Arial;font-size:11pt;">. Subject to the provisions of Sections 2 through 5 of this Agreement, twenty-five percent (25%) of the Restricted Stock Units will vest and become non-forfeitable on each of the first four anniversaries of the Grant Date, but only if Grantee remains employed by Arrow (or one of its Subsidiaries or Affiliates) on the applicable anniversary. Except as provided in Section 5 of this Agreement, within thirty days after Restricted Stock Units vest, each vested Restricted Stock Unit shall be settled by delivery of one Share. Any fractional Restricted Stock Units shall be rounded to the nearest whole number. Delivery of Shares within the applicable grace periods permitted by Section 409A of the Code shall be deemed made on the scheduled payment date. </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:Arial;font-size:11pt;padding-right:48px;">2.</font><font style="font-family:Arial;font-size:11pt;text-decoration:underline;">Grant Conditioned Upon Performance</font><font style="font-family:Arial;font-size:11pt;">. Your grant of Restricted Stock Units is conditioned upon Arrow meeting certain performance criteria established by the Compensation Committee of Arrow&#8217;s Board of Directors (the &#8220;Committee&#8221;). The Committee has determined that your Award will be conditioned upon the Company having Net Income, as determined in accordance with U. S. General Accounting Principles, greater than zero dollars during the fiscal year in which the Grant Date occurs. Immediately following the end of the fiscal year in which the Grant Date occurs, but prior to the first anniversary of the Grant Date, the Committee will certify whether or not the performance measure has been met. If the Committee fails to certify whether the performance measure was satisfied or determines that the performance measure has not been met, your Restri