Amended Savings Plan

Exhibit 10(b)

WHEREAS, Arrow Electronics, Inc. (the Company" ) has established the Arrow Electronics Savings Plan (the " Plan" ) and pursuant to Section 12.1 of the Plan, has reserved the right to amend the Plan through action by the Management Pension Investment and Oversight Committee (the " Committee" ) acting as Company Representative; and

WHEREAS, at a meeting held on November 25, 2003, the Committee amended the Plan to (i) eliminate direct reference to the Plan limit on elective deferrals made under the Plan, effective March 1, 2004, (ii) provide for monthly entry dates into the Plan, effective March 1, 2004, and (iii) permit in-service withdrawals of the partially vested portion of a Member' s Account, effective January 1, 2002;

WHEREAS, at a meeting held on September 21, 2004, the Compensation Committee of the Board of Directors of the Company directed that the Compensation Committee replace the Corporate Governance Committee with respect to the duty to appoint members of the Management Pension Investment and Oversight Committee pursuant to Section 10.1 of the Plan;

NOW THEREFORE, in order to formally reflect such action and make additional clarifying changes approved by the Committee on December 18, 2003, the Company has caused this instrument of amendment, including Exhibit A hereof, to be executed by its duly authorized officer, and its corporate seal to be hereunto affixed, this 7 day of March, 2005. ATTEST: ARROW ELECTRONICS, INC. Peter S. Brown By: Paul J. Reilly Secretary Vice President and Chief Financial Officer By: William E. Mitchell President and Chief Executive Officer


Exhibit A

AMENDMENT NO. 1
TO
ARROW ELECTRONICS SAVINGS PLAN
As Amended and Restated Effective January 1, 2002

The Arrow Electronics Savings Plan, as amended and restated effective January 1, 2002, is hereby amended in following respects:

1. Section 1.6 is amended by adding the following to the end thereof:

or any duly authorized committee thereof (such as the Compensation Committee).

2. Section 1.8 is amended effective September 21, 2004 by deleting the words " by the Corporate Governance Committee of the Board of Directors."

3. Section 1.21 is amended by adding the following to the end thereof:

" , and effective March 1, 2004, the first day of each calendar month."

4. Section 1.48 is amended to read as follows:

Year of Service . A Plan Year during which an employee has not less ...