- 2 -
- 3 -
- 4 -
Calendar Year | Amount | |||
2002 | $ | 11,000 | ||
2003 | $ | 12,000 | ||
2004 | $ | 13,000 | ||
2005 | $ | 14,000 | ||
Years subsequent to 2006 | $15,000, as adjusted in accordance with section 402(g)(4) of the Code |
- 5 -
- 6 -
- 7 -
- 8 -
- 9 -
- 10 -
- 11 -
- 12 -
- 13 -
- 14 -
- 15 -
- 16 -
- 17 -
Column 1 | Column 2 | |
Average Deferral Percentage for Section 401(k) Members | Average Deferral Percentage for Section 401(k) Members | |
Who Are Not Highly Compensated | Who Are Highly Compensated | |
Employees for the Applicable Plan | Employees for the Plan Year | |
Year Less than 2% | Two (2) times the percentage in Column 1 | |
2% - 8% | The percentage in Column 1, plus 2% | |
More than 8% | One and one-quarter (1-1/4) times the percentage in Column 1 |
- 18 -
- 19 -
Column 1 | Column 2 | |
Contribution Percentage for Section 401(k) Members Who | Contribution Percentage for Section 401(k) Members | |
Are Not Highly Compensated | Who Are Highly Compensated | |
Employees for the Applicable Plan Year | Employees for the Plan Year | |
Less than 2% | Two (2) times the percentage in Column 1 | |
2% - 8% | The percentage in Column 1, plus 2% | |
More than 8% | One and one-quarter (1-1/4) times the per- centage in Column 1 |
- 20 -
- 21 -
- 22 -
- 23 -
- 24 -
Years of Service | Vested Percentage | |
less than 5 | 0% | |
5 or more | 100% |
- 25 -
Years of Service | Vested Percentage | |
1 | 0% | |
2 | 20% | |
3 | 40% | |
4 | 60% | |
5 or more | 100% |
- 26 -
- 27 -
- 28 -
- 29 -
- 30 -
- 31 -
- 32 -
- 33 -
- 34 -
- 35 -
- 36 -
- 37 -
- 38 -
- 39 -
- 40 -
- 41 -
- 42 -
- 43 -
- 44 -
- 45 -
- 46 -
- 47 -
- 48 -
- 49 -
- 50 -
- 51 -
- 52 -
- 53 -
- 54 -
- 55 -
- 56 -
- 57 -
- 58 -
- 59 -
- 60 -
- 61 -
Years of Employment | Percentage Vested | |
Less Than 2 Years | 0% | |
2 Years But Less Than 3 | 20% | |
3 Years But Less Than 4 | 40% | |
4 Years But Less Than 5 | 60% | |
5 Years But Less Than 6 | 80% | |
6 Years Or More | 100% |
- 62 -
Calendar Year | Limit | |
2007 | $5,000 | |
2008 | $5,000 | |
2009 | $5,500 |
- 63 -
- 64 -
- 65 -
- 66 -
ATTEST: | ARROW ELECTRONICS, INC. | |||||
/s/ Peter S. Brown | By: | /s/ Paul J. Reilly | ||||
Secretary | Senior Vice President |
- 67 -
S1-1
S2-1
S3-1
S4-1
S5-1
to Former Members of the Capstone Electronics Profit-Sharing Plan
S6-1
S6-2
S6-3
Former Employees of Farnell Electronic Services
S7-1
S7-2
S7-3
to Employees of Consan, Incorporated
S8-1
From the Consan Plan Funds | Into Investment Fund | |
Janus Fund | Fidelity Magellan | |
Acorn International | Fidelity Retirement Govt. Money Market | |
Fidelity Asset Manager | Fidelity Asset Manager | |
Fidelity Short Term Bond | Fidelity Intermediate Bond | |
General American Life Ins Contract. | Fidelity Retirement Govt. Money Market |
S8-2
S8-3
S8-4
to Employees of Richey Electronics, Inc.
S9-1
From the Following Richey Plan Funds | Into Investment Fund | |
Fidelity Fund | Fidelity Spartan U.S. Equity Index Fund | |
Fidelity Investment Grade Bond Fund | Fidelity Intermediate Bond Fund | |
Fidelity Retirement Growth Fund | Same fund | |
Fidelity Blue Chip Growth Fund | Fidelity Magellan | |
Fidelity Retirement Gov’t Money Market | Same fund |
S9-2
S9-3
S9-4
to Employees of Scientific & Business Minicomputers, Inc.
S10-1
From the Following SBM Plan Funds | Into Investment Fund | |
Guaranteed Certificate | Fidelity Retirement Gov’t. Money Market | |
Short Term Fund I | Fidelity Retirement Govt. Money Market | |
Maxim Bond Index | Fidelity Intermediate Bond | |
Maxim Loomis Sayles Corp. Bond | Fidelity Intermediate Bond |
S10-2
Maxim US Govt. Mortgage Sec. | Fidelity Retirement Govt. Money Market | |
Maxim Global Bond | Fidelity Retirement Govt. Money Market | |
Maxim Money Market | Fidelity Retirement Govt. Money Market | |
Maxim Index European | Fidelity Retirement Govt. Money Market | |
Fidelity Advisor Overseas | Fidelity Retirement Govt. Money Market | |
Maxim Invesco ADR | Fidelity Retirement Govt. Money Market | |
Putnam Global Growth | Fidelity Retirement Govt. Money Market | |
AIM Charter | Fidelity Magellan | |
Orchard Index 500 | Fidelity Spartan US Equity Index | |
Maxim Founder’s Growth & Income | Fidelity Spartan US Equity Index | |
American Century Ultra | Fidelity Magellan | |
AIM Weingarten | Fidelity Retirement Growth | |
Maxim Growth Index | Fidelity Magellan | |
Fidelity Advisor Equity Income | Fidelity Equity Income | |
Fidelity Advisor Growth Opp. | Fidelity Magellan | |
Putnam Fund for Growth & Income | Fidelity Equity Income | |
Maxim Value Index | Fidelity Equity Income | |
AIM Constellation | Fidelity Retirement Growth | |
Maxim T. Rowe Price Mid-Cap Growth | Fidelity Retirement Growth | |
Profile Series I | Fidelity Magellan | |
Profile Series II | Fidelity Asset Management: Growth | |
Profile Series III | Fidelity Asset Management. | |
Profile Series IV | Fidelity Asset Management: | |
Profile Series V | Fidelity Asset Management: Income | |
Orchard Index 600 | Fidelity Retirement Growth |
S10-3
Maxim Ariel Small-Cap Value | Fidelity Value | |
Maxim Loomis Sayles Small-Cap Value | Fidelity Value |
S10-4
S10-5
S10-6
to Employees of Support Net, Inc.
S11-1
S11-2
From the Support Net Plan Funds | Into Investment Fund | |
EuroPacific Growth | Fidelity Retirement Govt Money Market | |
The Growth Fund of America | Fidelity Retirement Growth | |
The Investment Co. of America | Fidelity Magellan Fund | |
Capital Income Builder | Fidelity Asset Manager Income | |
Cash Management Trust of America | Fidelity Retirement Govt. Money Market | |
Washington Mutual Investors | Fidelity Equity Income Fund | |
The Bond Fund of America | Fidelity Intermediate Bond Fund |
S11-3
S11-4
S11-5
SAVINGS PLAN
to Former Participants in the VEBA Electronics Inc. 401(k) Plan
S12-1
S12-2
From the Following VEBA Plan Funds | Into Plan Investment Funds | |
BT Investment Equity 500 Index | Spartan U.S. Equity Index | |
Dreyfus Premier Tech. Growth Fund | OTC Portfolio | |
GIC Account 1 - VEBA | Retirement Gov’t M.M. | |
Mass Investors Growth Stock Fund | Magellan | |
Massachusetts Investors Trust | Magellan | |
MFS Bond Fund | Inter. Bond | |
MFS Capital Opportunities Fund | Magellan | |
MFS Emerging Growth Fund | OTC Portfolio | |
MFS Equity Income Fund | Equity Income | |
MFS Global Governments Fund | Retirement Gov’t M.M. | |
MFS Global Growth Fund | Retirement Gov’t M.M. | |
MFS Government Securities Fund | Inter. Bond | |
MFS High Income Fund | Retirement Gov’t M.M. | |
MFS Institutional Fixed Fund | Retirement Gov’t M.M. | |
MFS Midcap Growth Fund | OTC Portfolio | |
MFS Money Market Fund | Retirement Gov’t M.M. | |
MFS New Discovery Fund | OTC Portfolio | |
MFS Research Fund | Magellan | |
MFS Total Return Fund | Asset Manager |
S12-3
S12-4
Residents of the Commonwealth of Puerto Rico
S13-1
S13-2
S13-3
Former Employees of Pioneer-Standard Electronics, Inc.
S14-1
S14-2
SAVINGS PLAN
S15-1
SAVINGS PLAN
to Former Employees of Alternative Data Technology, Inc.
S16-1
From the Following ADT Plan Funds | Into Plan Investment Funds | |
SSgA Government Money Market | Fidelity Retirement Govt. MMKT | |
PIMCO Total Return Fund – Class A | Fidelity Intermediate Bond | |
DWS High Inc. Plus Fund – Class S | Fidelity Intermediate Bond | |
SSgA S&P 500 Index Fund | Fidelity Spartan US Equity Index Inv | |
SSgA Russell 2000 Index Strategy | Laudus Rosenberg U.S. Discovery Instl. | |
SSgA S&P MidCap 400 Index | Laudus Rosenberg U.s. Discovery Instl. | |
AllianceBenstein Growth and Inc – A | Fidelity Equity Income | |
DWS Large Cap Value Fund – A | Fidelity Equity Income | |
Allianz NFJ Small-Cap Value – A | Laudus Rosenberg U.S. Discovery Instl | |
DWS Small Cap Growth Fund – A | Laudus Rosenberg U.S. Discovery Instl | |
Neuberger Berman P’ners – Advisor | Cap Guardian | |
Oppenheimer Capital Apprec – A | Cap Guardian |
S16-2
Fidelity Advisor Equity Growth – T | T. Rowe Price | |
Franklin Rising Dividends | Fidelity Value | |
Alger MidCap Growth Inst’l – I | Laudus Rosenberg U.S. Discovery Instl. | |
Am. Century Intl. Growth – Advisor | JP Morgan Intl Equity S | |
Templeton Growth Inc – R | JP Morgan Intl Equity S | |
SSgA Life Solutions Inc. & Growth | Fidelity Freedom 2005 | |
SSgA Life Sol. Balanced Growth | Fidelity Freedom 2015 | |
SSgA Life Solutions Growth | Fidelity Freedom 2025 |
S16-3
SAVINGS PLAN
to Former Employees of Keylink Systems
S17-1
S17-2
SAVINGS PLAN
Former Employees of ACI Electronics, Inc.
S18-1
Page | ||||||||
ARTICLE I | DEFINITIONS | 2 | ||||||
1.1 | Accounts | 2 | ||||||
1.2 | Affiliate | 2 | ||||||
1.3 | Applicable Plan Year | 3 | ||||||
1.4 | Appropriate Form | 3 | ||||||
1.5 | Beneficiary | 3 | ||||||
1.6 | Board of Directors | 3 | ||||||
1.7 | Code | 3 | ||||||
1.8 | Catch-up Contributions | 3 | ||||||
1.9 | Committee | 3 | ||||||
1.10 | Common Stock | 3 | ||||||
1.11 | Company | 3 | ||||||
1.12 | Company Representative | 3 | ||||||
1.13 | Compensation | 4 | ||||||
1.14 | Compensation Limit | 4 | ||||||
1.15 | Contribution Agreement | 4 | ||||||
1.16 | Disability | 4 | ||||||
1.17 | Effective Date | 4 | ||||||
1.18 | Elective Account | 5 | ||||||
1.19 | Elective Contributions | 5 | ||||||
1.20 | Elective Deferral Limit | 5 | ||||||
1.21 | Eligible Employee | 5 | ||||||
1.22 | Employer | 6 | ||||||
1.23 | Entry Date | 6 | ||||||
1.24 | ERISA | 6 | ||||||
1.25 | ESOP Contributions | 6 | ||||||
1.26 | Fund or Trust Fund | 6 | ||||||
1.27 | Highly Compensated Employee | 6 | ||||||
1.28 | Hour of Service | 6 | ||||||
1.29 | Investment Adjustments | 8 | ||||||
1.30 | Investment Fund | 8 | ||||||
1.31 | Loan Account | 8 | ||||||
1.32 | Loan Fund | 8 | ||||||
1.33 | Matching Account | 8 | ||||||
1.34 | Matching Contributions | 8 | ||||||
1.35 | Member | 9 | ||||||
1.36 | Normal Retirement Date | 9 | ||||||
1.37 | One-Year Break in Service | 9 | ||||||
1.38 | Plan | 9 | ||||||
1.39 | Plan Year | 9 | ||||||
1.40 | Rollover Account | 9 | ||||||
1.41 | Rollover Contribution | 9 | ||||||
1.42 | Section 401(k) Member | 9 |
(continued)
Page | ||||||||
1.43 | Termination of Employment | 9 | ||||||
1.44 | Total Earnings | 10 | ||||||
1.45 | Trust Agreement | 10 | ||||||
1.46 | Trustee | 10 | ||||||
1.47 | Valuation Date | 10 | ||||||
1.48 | Vested Percentage | 10 | ||||||
1.49 | Year of Service | 10 | ||||||
1.50 | “Same-sex Marriages” | 11 | ||||||
ARTICLE II | MEMBERSHIP | 12 | ||||||
2.1 | Membership | 12 | ||||||
2.2 | Service with Affiliates | 12 | ||||||
2.3 | Contribution Agreement | 12 | ||||||
2.4 | Transfers | 13 | ||||||
2.5 | Transfers Between Employers | 13 | ||||||
2.6 | Reemployment | 13 | ||||||
2.7 | Service with Predecessors or Affiliates, or as an Ineligible Employee | 13 | ||||||
ARTICLE III | CONTRIBUTIONS | 15 | ||||||
3.1 | Elective Contributions | 15 | ||||||
3.2 | Matching Contributions | 17 | ||||||
3.3 | Section 401(k) Limit on Elective Contributions | 17 | ||||||
3.4 | Section 401(m) Limit on Matching Contributions | 19 | ||||||
3.5 | Special Rules | 21 | ||||||
3.6 | Rollovers | 22 | ||||||
3.7 | Maximum Limit on Allocation | 23 | ||||||
3.8 | Form and Time of Payment | 23 | ||||||
3.9 | Contributions May Not Exceed Amount Deductible | 23 | ||||||
3.10 | Contributions Conditioned on Deductibility and Plan Qualification | 23 | ||||||
3.11 | Expenses | 23 | ||||||
3.12 | No Employee Contributions | 23 | ||||||
3.13 | Profits Not Required | 24 | ||||||
3.14 | Contributions for Military Service | 24 | ||||||
ARTICLE IV | VESTING | 25 | ||||||
4.1 | Elective Account and Rollover Account | 25 | ||||||
4.2 | Matching Account | 25 | ||||||
4.3 | Forfeitures | 26 | ||||||
4.4 | Irrevocable Forfeitures | 26 | ||||||
4.5 | Application of Forfeitures | 27 | ||||||
ARTICLE V | ACCOUNTS AND DESIGNATION OF INVESTMENT FUNDS | 28 | ||||||
5.1 | Investment of Account Balances | 28 | ||||||
5.2 | Designation of Investment Funds for Future Contributions | 28 | ||||||
5.3 | Designation of Investment Funds for Existing Account Balances | 28 |
ii
(continued)
Page | ||||||||
5.4 | Valuation of Investment Funds | 28 | ||||||
5.5 | Correction of Error | 29 | ||||||
5.6 | Allocation Shall Not Vest Title | 29 | ||||||
5.7 | Statement of Accounts | 29 | ||||||
5.8 | Daily Valuation | 29 | ||||||
ARTICLE VI | LIMITATION ON MAXIMUM CONTRIBUTIONS AND BENEFITS UNDER ALL PLANS | 30 | ||||||
6.1 | Definitions | 30 | ||||||
6.2 | Limitation on Annual Additions | 30 | ||||||
6.3 | Application | 30 | ||||||
6.4 | Limitation Year | 31 | ||||||
6.5 | Correlation with Higher ESOP Limit | 31 | ||||||
ARTICLE VII | DISTRIBUTIONS, WITHDRAWALS AND LOANS | 32 | ||||||
7.1 | Distribution on Termination of Employment | 32 | ||||||
7.2 | Withdrawals during Employment | 32 | ||||||
7.3 | Loans during Employment | 34 | ||||||
7.4 | Loan Requirements | 34 | ||||||
7.5 | Loan Expenses | 36 | ||||||
7.6 | Funding | 36 | ||||||
7.7 | Repayment | 37 | ||||||
7.8 | Valuation | 37 | ||||||
7.9 | Allocation among Investment Funds | 37 | ||||||
7.10 | Disposition of Loan Upon Certain Events | 37 | ||||||
7.11 | Withdrawals from Plan While Loan is Outstanding | 37 | ||||||
7.12 | Compliance with Applicable Law | 37 | ||||||
7.13 | Default | 38 | ||||||
7.14 | Conversion of Loan to Hardship Distribution | 38 | ||||||
ARTICLE VIII | PAYMENT OF BENEFITS | 39 | ||||||
8.1 | Payment of Benefits | 39 | ||||||
8.2 | Death Benefits | 40 | ||||||
8.3 | Non-Alienation of Benefits | 40 | ||||||
8.4 | Doubt as to Right to Payment | 40 | ||||||
8.5 | Incapacity | 41 | ||||||
8.6 | Time of Commencement of Benefits | 41 | ||||||
8.7 | Payments to Minors | 41 | ||||||
8.8 | Identity of Proper Payee | 42 | ||||||
8.9 | Inability to Locate Distributee | 42 | ||||||
8.10 | Estoppel of Members and Their Beneficiaries | 42 | ||||||
8.11 | Qualified Domestic Relations Orders | 42 | ||||||
8.12 | Benefits Payable Only from Fund | 43 | ||||||
8.13 | Prior Plan Distribution Forms | 43 | ||||||
8.14 | Restrictions on Distribution | 44 |
iii
(continued)
Page | ||||||||
8.15 | Direct Rollover of Eligible Rollover Distributions | 44 | ||||||
8.16 | Receipt of ESOP Beneficiary’s Account | 45 | ||||||
ARTICLE IX | BENEFICIARY DESIGNATION | 47 | ||||||
9.1 | Designation of Beneficiary | 47 | ||||||
9.2 | Spouse as Presumptive Beneficiary | 47 | ||||||
9.3 | Change of Beneficiary | 47 | ||||||
9.4 | Failure to Designate | 47 | ||||||
9.5 | Effect of Marriage, Divorce or Annulment, or Legal Separation | 47 | ||||||
9.6 | Proof of Death, etc. | 48 | ||||||
9.7 | Discharge of Liability | 48 | ||||||
ARTICLE X | ADMINISTRATION OF THE PLAN | 49 | ||||||
10.1 | Committee | 49 | ||||||
10.2 | Named Fiduciary | 49 | ||||||
10.3 | Powers and Discretion of the Named Fiduciary | 49 | ||||||
10.4 | Advisers | 50 | ||||||
10.5 | Service in Multiple Capacities | 51 | ||||||
10.6 | Limitation of Liability; Indemnity | 51 | ||||||
10.7 | Reliance on Information | 51 | ||||||
10.8 | Subcommittees, Counsel and Agents | 51 | ||||||
10.9 | Funding Policy | 52 | ||||||
10.10 | Proper Proof | 52 | ||||||
10.11 | Genuineness of Documents | 52 | ||||||
10.12 | Members May Direct Investments | 52 | ||||||
10.13 | Records and Reports | 53 | ||||||
10.14 | Recovery of Overpayments | 53 | ||||||
ARTICLE XI | THE TRUST AGREEMENT | 54 | ||||||
11.1 | The Trust Agreement | 54 | ||||||
11.2 | No Diversion of Fund | 54 | ||||||
11.3 | Duties and Responsibilities of the Trustee | 54 | ||||||
ARTICLE XII | AMENDMENT | 55 | ||||||
12.1 | Right of the Company to Amend the Plan | 55 | ||||||
12.2 | Plan Merger | 55 | ||||||
12.3 | Amendments Required by Law | 55 | ||||||
12.4 | Right to Terminate | 55 | ||||||
12.5 | Termination of Trust | 55 | ||||||
12.6 | Continuation of Trust | 56 | ||||||
12.7 | Discontinuance of Contributions | 56 | ||||||
ARTICLE XIII | MISCELLANEOUS PROVISIONS | 57 | ||||||
13.1 | Plan Not a Contract of Employment | 57 | ||||||
13.2 | Merger | 57 | ||||||
13.3 | Claims Procedure | 57 |
iv
(continued)
Page | ||||||||
13.4 | Controlling Law | 57 | ||||||
13.5 | Separability | 57 | ||||||
13.6 | Captions | 57 | ||||||
13.7 | Usage | 57 | ||||||
ARTICLE XIV | LEASED EMPLOYEES | 58 | ||||||
14.1 | Definitions | 58 | ||||||
14.2 | Treatment of Leased Employees | 58 | ||||||
14.3 | Exception for Employees Covered by Plans of Leasing Organization | 58 | ||||||
14.4 | Construction | 58 | ||||||
ARTICLE XV | “TOP-HEAVY” PROVISIONS | 59 | ||||||
15.1 | Determination of “Top-Heavy” Status | 59 | ||||||
15.2 | Provisions Applicable in “Top-Heavy ” Plan Years | 61 | ||||||
ARTICLE XVI | CATCH-UP CONTRIBUTIONS | 63 | ||||||
16.1 | General | 63 | ||||||
16.2 | Method of Contribution | 63 | ||||||
16.3 | Ineligibility for Matching Contributions | 63 | ||||||
16.4 | Limit on Catch-Up Contribution | 63 | ||||||
16.5 | Treatment of Catch-up Contributions | 63 | ||||||
16.6 | Qualification as Catch-up Contributions | 63 | ||||||
16.7 | Catch-up Contributions Disregarded for Certain Purposes | 64 | ||||||
ARTICLE XVII | AUTO-ENROLLMENT | 65 | ||||||
17.1 | Employees Subject to Auto-enrollment | 65 | ||||||
17.2 | Auto-enrollment | 65 | ||||||
17.3 | Initial Notice | 65 | ||||||
17.4 | Annual Notice | 65 | ||||||
17.5 | Notice Procedures | 66 | ||||||
17.6 | Election to Disenroll | 66 |
v