EXHIBIT 10.7
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AMENDMENT TO
KENT ELECTRONICS CORPORATION
STOCK OPTION PLAN AND AGREEMENT FOR
EXECUTIVE VICE PRESIDENT OF OPERATIONS-DISTRIBUTION
This Amendment to Kent Electronics Corporation Stock Option Plan and
Agreement for Executive Vice President of Operations-Distribution (the "Plan"),
is effective as of the 2nd day of July, 1997 (the "Effective Date"), between
Kent Electronics Corporation, a Texas corporation (the "Company"), and Xxxx X.
Xxxxx (the "Optionee").
WHEREAS, the Company adopted the Plan effective May 8, 1995; and
WHEREAS, on July 2, 1997, the Compensation Committee of the Board of
Directors approved certain amendments to the Plan;
NOW, THEREFORE, for and in consideration of the premises herein, this
Amendment to the Plan further evidences the amendment of the Plan as follows:
1. Amendment to the Plan. The Plan is hereby amended as set forth on
Exhibit A attached hereto.
2. Full Force and Effect. The Plan, as amended hereby, shall remain in
full force and effect.
IN WITNESS WHEREOF, the Company has caused this Amendment to the Plan to be
signed on its behalf by the undersigned, thereunto duly authorized.
KENT ELECTRONICS CORPORATION
By: /s/ Xxxxxx X. Xxxxxxxx
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Xxxxxx X. Xxxxxxxx
Chairman of the Board, Chief Executive
Officer and President
ACCEPTED AND AGREED TO
AS OF THE EFFECTIVE DATE:
Optionee:
/s/ Xxxx X. Xxxxx
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Xxxx X. Xxxxx
EXHIBIT A
AMENDMENT TO
KENT ELECTRONICS CORPORATION
STOCK OPTION PLAN AND AGREEMENT FOR
EXECUTIVE VICE PRESIDENT OF OPERATIONS-DISTRIBUTION
Section 5 of the Kent Electronics Corporation Stock Option Plan and
Agreement for Executive Vice President of Operations-Distribution shall be
amended in its entirety to provide for transferability of stock options as
follows:
5. Transferability of Option. Except as set forth below, the Option
granted hereunder shall not be transferable by the Optionee otherwise than
by will or operation of the laws of descent and distribution or pursuant to
a qualified domestic relations order as defined in the Code or Title 1 of
the Employee Retirement Income Security Act of 1974, as amended, or the
rules thereunder; provided, however, that the Option may be transferable,
without payment of consideration, to immediate family members of the
Optionee or to trusts or partnerships for such family members.
