Tech Data 2014 Annual Report Download - page 191

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“Exercise Fair Market Value”
means, as of any date, the last sales price for a Share (or if a Share was not traded on such
date, on the immediately preceding day on which sales of a Share were reported) as quoted on the NASDAQ National
Market, or on any other national exchange registered under the Exchange Act upon which the Common Stock is then
listed, for the last market trading day prior to such date.
“Grant Price”
means the Fair Market Value of a Share on the date on which the MVSSARs are granted to the Holder, as
specified in Part I.
“Maximum Value per MVSSAR”
means the maximum total dollar value of USD$20 that can accrue to the Holder upon
the exercise of one MVSSAR such that the Holder is never entitled to receive more than USD$20 upon exercise of one
MVSSAR, regardless of the Exercise Fair Market Value on the date of exercise.
“Share” means one (1) share of Common Stock.
Section 2. Grant of Maximum Value Stock-Settled Stock Appreciation Right .
Subject to the terms and
conditions hereinafter set forth, including Section 4(f) and the adjustments of Section 7, the Holder is granted
MVSSARs at the Grant Price designated in Part I. Each MVSSAR gives the Holder a right to receive the excess, if any,
of the Exercise Fair Market Value of a Share on the day one vested MVSSAR is exercised over the Grant Price, but not
to exceed the Maximum Value per MVSSAR.
Section 3. Vesting of Maximum Value Stock-Settled Stock Appreciation Right .
Subject to the provisions of
Sections 9 of this Agreement, this MVSSAR shall vest twenty five percent (25%) each year from the Date of Grant.
After a portion of the MVSSAR has become exercisable and during the term of this MVSSAR, the Holder shall
be entitled to decide whether to exercise the MVSSAR subject to the conditions set forth in Section 4.
Section 4. Exercise of Maximum Value Stock -Settled Stock Appreciation Right.
(a) Right to Exercise and Term of MVSSAR
. This MVSSAR is exercisable in accordance with the vesting
schedule set forth in Section 3 of this Agreement. The term of this MVSSAR shall be for ten years from the Date of
Grant of this MVSSAR, subject to the provisions of Section 9 of this Agreement.
(b) Exercise Payment
. Upon any exercise of a vested MVSSAR, the Holder is entitled to receive the exercise
payment (subject to Section 6 of this Agreement) which, for each MVSSAR, is calculated as the excess, if any, of the
Exercise Fair Market Value of the vested MVSSAR that is exercised over the Grant Price, but not to exceed the
Maximum Value per MVSSAR (the “Exercise Payment”).
The Exercise Payment will be calculated in reference to each
one MVSSAR that is exercised. The aggregate Exercise Payment will be settled in Shares calculated using the Exercise
Fair Market Value.
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