First Amendment to 2009 Equity Incentive Plan of Tech Data Corporation
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Summary
This amendment updates the 2009 Equity Incentive Plan of Tech Data Corporation, effective March 15, 2016. It states that if there is a Change in Control of the company, all outstanding stock options will become fully exercisable, all restrictions on restricted stock and units will be lifted, and all performance awards will be considered fully earned at their maximum value, unless otherwise specified in an award agreement or by the Board. This ensures that plan participants receive the full benefits of their awards in the event of a company takeover or similar event.
EX-10.2 3 exhibit10-2firstamendmento.htm FIRST AMENDMENT OF 2009 EQUITY INCENTIVE PLAN Exhibit
FIRST AMENDMENT OF
2009 EQUITY INCENTIVE PLAN
OF TECH DATA CORPORATION
Section 14(a) of the 2009 Equity Incentive Plan of Tech Data Corporation is hereby replaced in its entirety with the following, effective as of March 15, 2016:
(a) EFFECT ON AWARDS. In the event of a Change in Control (as defined below) of the Company, except as provided in an applicable Award Agreement or as the Board comprised of a majority of continuing Directors may expressly provide otherwise, and notwithstanding any other provision of the Plan to the contrary: (i) all Stock Options then outstanding shall become fully exercisable as of the date of the Change in Control, whether or not then exercisable; (ii) all restrictions and conditions in respect of all Restricted Stock and Restricted Stock Unit Grants then outstanding shall be deemed satisfied as of the date of the Change in Control; and (iii) all Performance Awards and Awards shall be deemed to have been fully earned, at the maximum amount of the award opportunity specified in the Award Agreement, as of the date of the Change in Control.
