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AGREEMENT FOR
SUPPLEMENTAL EXECUTIVE RETIREMENT BENEFIT
THIS AGREEMENT is
entered into as of the 6th day of May, 2009 by and between Anthony
W. Boor (the “Executive”) and Brightpoint, Inc., an
Indiana corporation (the “Company”).
1.
Eligibility for Supplemental Retirement Benefit . In
addition to any amounts that may be payable to the Executive
pursuant to any other compensation or benefit plan or program
maintained by the Company to which the Executive may be entitled,
subject to Section 5 below, the Company shall pay to the
Executive beginning upon his Date of Termination (as such term is
defined in that certain Amended and Restated Employment Agreement
dated as of May 6, 2009 between the Executive and the Company,
as it may be amended from time to time (the “Employment
Agreement”)) (the applicable date the “Payment Start
Date”), an annual amount (the “Supplemental Retirement
Benefit”) calculated and paid pursuant to the provisions of
this Agreement including, but not limited to, the payment period
described in Section 3 below.
2.
Calculation of the Supplemental Retirement Benefit
.
(a)
Formula . The Supplemental Retirement Benefit shall
equal the lesser of:
(ii)
the product of (A) the Gross Benefit as defined in subsection
2(b) below, multiplied by (B) the Early Commencement
Percent defined in subsection 2(e) below:
(b)
Gross Benefit . The Gross Benefit shall equal an
annual payment equal to the product of the Accrual Percentage (as
calculated in accordance with subsection 2(c) below) multiplied
by the Final Average Earnings (as defined in subsection 2(d)
below).
(c)
Accrual Percentage . The Accrual Percentage shall
equal the sum of (i) 12%, (ii) 2% multiplied by each Year for
which the Executive is employed by the Company during the calendar
years 2009 through 2014 and (iii) 4% multiplied by each Year
for which the Executive is employed by the Company during any
calendar year subsequent to 2014; provided , however
, that under no circumstances shall the Accrual Percentage exceed
60%. For purposes of this Agreement, “Year” means the
calendar year commencing with the calendar year 2009 and does not
include any calendar year prior to 2009.
(d)
Final Average Earnings . The Executive’s Final
Average Earnings for purposes of subsection 2(b) above shall equal
the quotient of (i) the sum of (A) the Executive’s
Annual Base Salary (as defined below) for the 5 Years prior to the
Executive’s Date of Termination plus (B) the
Executive’s target cash bonus with respect to the calendar
year ending in each such Year (notwithstanding when such bonus is
paid or payable and specifically excluding any equity-based
awards), divided by (ii) 5. “Annual Base
Salary” shall mean the
B-1
base rate of
cash compensation payable by the Company to or for the benefit of
the Executive for services rendered, including base pay the
Executive could have received in cash in lieu of deferrals pursuant
to any non-qualified deferred compensation plan or pursuant to any
pre-tax contribution made on the Executive’s behalf to any
qualified plan maintained by the Company pursuant to a cash or
deferred arrangement (as defined under Section 401(k) of the
Internal Revenue Code of 1986, as amended (the
“Code”)), under any cafeteria plan (as defined under
Section 125 of the Code) or under a qualified transportation
fringe benefit (as defined under Section 132(f) of the
Code).
(e)
Early Commencement Percent . The Early Commencement
Percen
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