Avnet 2013 Annual Report Download - page 147

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Article 7
Amendment and Termination
Amendment and Termination
Vesting and Payment Upon Termination
If the Plan is terminated, the Plan benefit of each Participant who is employed by the Company or an Affiliate on the
termination date shall be fully vested. The Plan Committee shall have discretion to liquidate all remaining benefits in
accordance with the applicable provisions of Treas. Reg. ยง 1.409A-3(j)(4)(ix).
(a)
The Company may amend, modify, suspend, or terminate the Plan in whole or in part by resolution of the Board.
Any such resolution may designate authority to the Plan Committee or an officer of the Company to adopt
amendments that are consistent with the Board's resolution. Except to the extent required by law or to effectuate
the intent that this Plan not provide benefits other than as required to restore amounts that cannot accrue under
the Avnet Pension Plan by reason of the Qualified Plan Limits, no amendment, modification, suspension, or
termination shall have any retroactive effect to reduce the balance of a Participant's Restoration Account.
(b)
The Plan Committee is authorized to adopt any amendment that it determines is necessary or appropriate to
comply with an applicable law or to improve administration of the Plan; provided that no such amendment shall
cause a material increase in the Company's cost of providing benefits under the Plan.
Avnet Restoration Plan
2013 Restatement
Page
14