Amendment No.1 - Arrow Savings Plan

AMENDMENT NO. 1
TO THE
ARROW ELECTRONICS SAVINGS PLAN


The Arrow Electronics Savings Plan as restated to reflect amendments adopted through December 28, 1994 is hereby amended in the following respects:


1. Effective September 1, 1995, Section 1.21 is restated in its entirety to read as follows:


1.21 Entry Date. The first day of each January, April, July and October.


2. Effective September 1, 1995, Section 2.1 is restated in its entirety to read as follows:


2.1 In General. An Eligible Employee who has not previously become a member shall become a Member on the Entry Date coincident with or next following the later of his twenty-first (21st) birthday or the ninetieth (90th) day following his Date of Hire.


3. Effective September 1, 1995, the following sentence is added immediately before the final sentence of Section 7.3:


No more than two loans may be outstanding at any time.


4. Effective as though included in the Plan as restated to reflect amendments adopted through December 28, 1994, Supplements 4 and 5 are restated in their entirety to read as follows:


SUPPLEMENT NO. 4


In connection with the acquisition by Arrow Electronics, Inc. of all of the issued and outstanding shares of common stock of Gates/FA Distributing, Inc. (the "Gates Acquisition"), the Plan is amended as follows:


...