EXHIBIT 10.3
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AMENDMENT TO K*TEC GENERAL MANAGER
STOCK OPTION PLAN AND AGREEMENT
This Amendment to K*TEC General Manager Stock Option Plan and Agreement
(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 Xxxxxx X. Xxxxxxxxx (the "Optionee").
WHEREAS, the Company adopted the Plan effective May 1, 1993; 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/ Xxxxxx X. Xxxxxxxxx
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Xxxxxx X. Xxxxxxxxx
EXHIBIT A
AMENDMENT TO K*TEC GENERAL MANAGER
STOCK OPTION PLAN AND AGREEMENT
Section 5 of the K*TEC General Manager Stock Option Plan and Agreement
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.