Amendment No.4 - Arrow Savings Plan

AMENDMENT NO. 4
TO THE
ARROW ELECTRONICS STOCK OWNERSHIP PLAN
(as amended December 28, 1994)


The Arrow Electronics Stock Ownership Plan as restated December 28, 1994 and as subsequently amended, is hereby further amended in the following respects:


1. Section 1.20.2 is amended to read as follows:


1.20.2 Paid Or Other Approved Absence. Each regularly scheduled working hour during a period for which an employee is paid, or entitled to payment, by an Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including disability or pregnancy), layoff, jury duty, military duty or leave of absence, or during any other period of authorized leave if employee returns to employment with the Employer on the expiration of such leave.


2. Section 6.2.1 is amended so that the first sentence now reads:


Subject to the provisions of Section 9.5, the benefits distributable to a Member pursuant to this Article VI on Termination of Employment on or after January 1, 1986 but prior to the Member's Normal Retirement Date shall be distributed in a single distribution no later than December 31 of the Year following the Year in which he terminates employment; provided, that if the total amount distributable from the Member's Accounts exceeds $5,000 (or exceeded $5,000 at the time of any prior distribution), (a) such Member's benefits shall not be so distributed prior to his Normal Retiremen ...