Tech Data 2014 Annual Report Download - page 153
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 |
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“Share” means one (1) share of Common Stock.
Section 2. Grant .
The Participant is hereby granted an HRE award under Section 11 of the Plan. Each HRE
represents the prospective contingent right to receive one Share and will, at all times the Agreement is in effect, be equal
in value to one Share.
Section 3. Vesting .
Subject to the provisions of this Agreement, the HREs shall vest and become payable in
Shares in accordance with the following vesting schedule:
Unless and until the HREs vest, the Participant will have no right to payment of any unvested HREs. Prior to the actual
delivery of any of the HREs that are vested, the HREs will represent an unsecured obligation of the Company in
accordance with Section 16(c) of the Plan.
Section 4. Non-Transferability . All rights with respect to the HREs are exercisable during the Participant’
s
lifetime only by the Participant and the HREs may not be transferred, assigned, pledged or hypothecated in any manner
other than by will or by applicable laws of descent and distribution, or pursuant to a qualified domestic relations order as
defined by the Code or Title I of the Employee Retirement Income Security Act of 1974, as amended, or rules
thereunder.
Section 5. Delivery of Shares .
(i) General
. Subject to the other terms of the Plan and this Agreement, the Company will issue or
cause to be delivered to the Participant (or if any other individual(s) then hold the HREs, to such individual(s)) the
number of Shares the Participant is entitled to receive as a result of the vesting of the HREs as soon as practical after, but
not later than 10 days following, the Participant’s “separation from service”
as such term is defined under Section 409A
of the Code (a “Separation from Service”).
The Shares shall be registered in the name of the Participant (or the name(s)
of the individual(s) that then hold the HREs, either alone or jointly with another person(s) with rights of survivorship, as
such individual(s) shall prescribe in writing or other methods allowed to the Company). Notwithstanding the foregoing,
the delivery of Shares as required hereby may be delayed if the delivery is reasonably likely to violate applicable federal,
state or non-
U.S. securities laws; provided, however, that the delivery will occur at the earliest date the Company
reasonably anticipates that the distribution will not cause a violation.
2
Vesting Date
Vesting Percentage
First Anniversary of Date of Grant 25%
Second Anniversary of Date of Grant 25%
Third Anniversary of Date of Grant 50%