SECOND AMENDMENT TO THE INGRAM MICRO INC. SUPPLEMENTAL INVESTMENT SAVINGS PLAN
Exhibit 10.16
SECOND AMENDMENT TO THE
INGRAM MICRO INC.
SUPPLEMENTAL INVESTMENT SAVINGS PLAN
The Ingram Micro Inc. Supplemental Investment Savings Plan, which was restated as of December 31, 2008, is hereby amended in the following manner in accordance with the amendment procedures set forth in Section 10.1 of the Plan. This Amendment is effective as of the date specified below.
Effective with respect to Compensation paid, and deferrals and Matching Contributions made, on or after February 4, 2011, the Adoption Agreement (as previously modified in the First Amendment to this Plan) is amended by revising the Attachment to Section 5.01(a) to read as follows:
Matching Contributions will be credited to eligible Participants each pay period based on a formula equal to the excess of the amount determined in (a) below, less the amount determined in (b) below:
(a) An amount equal to the lesser of (i) $0.50 for each $1.00 of the eligible Participants Compensation subject to deferral under the Plan for such pay period, and (ii) 2.50% of the eligible Participants Compensation for such pay period.
(b) The amount of Matching Contributions (as defined in the Ingram Micro 401(k) Investment Savings Plan) made on behalf of the Participant under the Ingram Micro 401(k) Investment Savings Plan for such pay period.
For purposes of calculating Matching Contributions under section 5.01 of the Adoption Agreement only, a Participants Compensation shall be the definition as set forth in Section 3.01(b) of the Adoption Agreement, but excluding the Annual Incentive Bonus, and the voluntary or involuntary cash-out payments made under the employers Paid Time Off Policy.
IN WITNESS WHEREOF, this Second Amendment is executed on the date set forth below.
INGRAM MICRO INC. | ||
By: | Robyn Tingley | |
Title: | Vice President, Human Resources, Americas | |
Date: | December 15, 2011 |