Tech Data 2014 Annual Report Download - page 186
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SPAIN
1. Termination . The following provision shall replace Section 9 (i) of the Agreement in its entirety:
(i) termination of active employment or other relationship between the Company or the Employer and the
Participant for any reason (including termination without cause or unfair dismissal) other than due to the Participant’
s
death or Disability;
2. Nature of Grant . The following provisions shall replace Section 10(x) of the Agreement in its entirety,
and the following new provision shall be added as Section 10(xi) of the Agreement:
(x) in the event of termination of the Participant’
s employment (whether or not in breach of local labor
laws), the Participant’
s right to receive the RSUs and vest in the RSUs under the Plan, if any, will be determined
effective as of the date that the Participant is no longer actively employed and will not be extended by any notice period
mandated under local law ( e.g. , active employment would not include a period of “garden leave”
or similar period
pursuant to local law); the Committee shall have the exclusive discretion to determine when the Participant is no longer
actively employed for purposes of his or her grant of RSUs; and
(xi) in accepting the grant of RSUs, the Participant acknowledges that he or she consents to participation
in the Plan and has received a copy of the Plan. The Participant understands that the Company has unilaterally,
gratuitously and discretionally decided to grant RSUs under the Plan to individuals who may be employees of the
Company or its Subsidiaries or affiliated companies throughout the world. The decision is a limited decision that is
entered into upon the express assumption and condition that any grant will not economically or otherwise bind the
Company or any of its Subsidiaries or affiliated companies on an ongoing basis. Consequently, the Participant
understands that the RSUs are granted on the assumption and condition that the RSUs and any Shares that may be
acquired as a result of the vesting of the RSUs shall not become a part of any employment contract (either with the
Company or any of its Subsidiaries or affiliated companies) and shall not be considered a mandatory benefit or salary for
any purpose (including severance compensation) or any other right whatsoever. In addition, the Participant understands
that this grant would not be made to the Participant but for the assumptions and conditions referred to above; thus, the
Participant acknowledges and freely accepts that should any or
35