Tech Data 2014 Annual Report Download - page 154

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The delivery of Shares in settlement of the HREs shall be deemed effected for all purposes when a stock transfer agent
shall have deposited such Shares according to the delivery instructions provided by Participant (or if any other individual
(s) then hold the HREs, by such other individual(s)). Fractional Shares shall not be issued.
Notwithstanding anything to the contrary in this Section 5, in the event that Participant is a
“specified employee” (
within
the meaning of Section 409A \of the Code) on the date of the Participant’
s Separation from Service, the Shares to be
delivered in settlement of the HREs shall be delivered on the first business day of the first calendar month that begins
after the six-month anniversary of the Separation from Service or, if earlier, on the date of the Participant’s death.
Section 6. Tax Withholding Obligations .
Regardless of any action the Company or the Employer takes with
respect to any or all income tax, social insurance contributions, payroll tax, payment on account or other tax-
related
withholding (“Tax-Related Items”), the Participant acknowledges that the ultimate liability for all Tax-
Related Items is
and remains the Participant’
s responsibility and that the Company and/or the Employer (1) make no representations or
undertakings regarding the treatment of any Tax-
Related Items in connection with any aspect of the HREs, including but
not limited to, the grant of the HREs, the vesting of the HREs, the subsequent sale of any Shares acquired or the receipt
of any dividends, and (2) do not commit to structure the terms of the grant or any aspect of the HREs to reduce or
eliminate the Participant’s liability for Tax-Related Items.
Finally, the Participant will pay to the Company or the Employer any amount of Tax-
Related Items that the
Company or the Employer may be required to withhold as a result of the Participant’
s participation in the Plan or the
Participant’
s acquisition of Shares that cannot be satisfied by the means previously described. The Company may refuse
to deliver any Shares due to be delivered if the Participant fails to comply with his or her obligations in connection with
the Tax-
Related Items as described in this section. The Participant hereby consents to any action reasonably taken by the
Company to meet his or her obligation for Tax-Related Items.
Section 7. Changes in Capitalization .
The existence of the HREs shall not affect in any way the right or power
of the Company or its stockholders to make, authorize or consummate (i) any or all adjustments, recapitalizations,
reorganizations or other changes in the Company’
s capital structure or its business; (ii) any merger or consolidation of
the Company; (iii) any issue by the Company of debt securities, or preferred or preference stock that would rank above
the shares subject to HREs; (iv) the dissolution or liquidation of the Company; (v) any sale, transfer or outstanding
assignment of all or any part of the assets or business of the Company; or (vi) any other corporate act or proceeding,
whether of a similar character or otherwise.
3