Avnet 2012 Annual Report Download - page 119

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Article 3
Eligibility, Participation, and Vesting
Eligibility and Participation
Vesting
(a)
Eligibility to participate in the Plan shall be limited to a select group of management and highly compensated
employees of the Company who are identified and classified by the Plan Committee as Eligible Employees.
(b)
An individual who is designated as an Eligible Employee shall enter the Plan as of the date determined by the
Plan Committee; provided that such date shall be no earlier than the later of (1) January 1, 2012, or (2) the
Participant's most-recent entry date under the Avnet Pension Plan. The entry date for each Participant shall be as
reflected in the Plan's records, unless the Plan Committee or the Board determines that such records reflect an
administrative error.
(c)
If a Participant is entitled to benefits under both this Plan and the SERP, his benefit under the SERP (whether a
retirement benefit, disability benefit, or death benefit) shall be offset by his benefit under this Plan. Such offset
shall be determined in accordance with the terms of the SERP.
(d)
An individual who becomes a Participant shall continue to be a Participant until all benefits payable under the
Plan to him and his Beneficiaries have been paid in full. If a Participant's Separation from Service occurs before
his benefit under the Plan has become vested, he shall cease to be a Participant upon such Separation from
Service.
(a)
No benefit shall be payable under the Plan unless it has become vested under this Section 3.02 or Section 7.02
(relating to termination of the Plan).
(b)
Except as provided in subsection (c), below, or Section 7.02 (relating to termination of the Plan), a Participant
shall be vested in his benefit under the Plan only if his Retirement Income under the Avnet Pension Plan is
vested. If the Participant is not vested at the time of his Separation from Service, his Restoration Account shall be
forfeited.
(c)
If a Participant's employment with the Company and Affiliates is terminated involuntarily and without Cause
within two years after a Change of Control, his benefit under the Plan shall be vested.
Avnet Restoration Plan
January 1, 2012 Page
6