9% SENIOR SUBORDINATED NOTE

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                                                                    EXHIBIT 10.3

THE INDEBTEDNESS EVIDENCED BY THIS NOTE IS SUBORDINATED TO THE PRIOR PAYMENT IN
FULL OF ALL SENIOR INDEBTEDNESS TO THE EXTENT PROVIDED IN THE SECURITIES
PURCHASE AGREEMENT DATED OCTOBER 2, 2006 AMONG BELL MICROPRODUCTS INC., THE
TEACHERS' RETIREMENT SYSTEM OF ALABAMA AND THE EMPLOYEES' RETIREMENT SYSTEM OF
ALABAMA (THE "SECURITIES PURCHASE AGREEMENT"). THIS NOTE HAS NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY
STATE. THIS NOTE MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF IN THE
ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM. IN ADDITION, THE
TRANSFER OF THIS NOTE IS SUBJECT TO THE CONDITIONS SPECIFIED IN ARTICLE 10 OF
THE SECURITIES PURCHASE AGREEMENT. NO TRANSFER OF THIS NOTE SHALL BE VALID OR
EFFECTIVE UNTIL SUCH CONDITIONS HAVE BEEN FULFILLED. A COPY OF THE SECURITIES
PURCHASE AGREEMENT IS ON FILE AND MAY BE INSPECTED AT THE PRINCIPAL EXECUTIVE
OFFICE OF THE ISSUER. THE HOLDER OF THIS NOTE, BY ACCEPTANCE OF THIS NOTE,
AGREES TO BE BOUND BY THE PROVISIONS OF THE SECURITIES PURCHASE AGREEMENT.

                           9% SENIOR SUBORDINATED NOTE
$12,000,000                                                Dated:   October 2, 2006

         FOR VALUE RECEIVED, the undersigned, BELL MICROPRODUCTS INC., a
California corporation (the "Company"), promises to pay to the order of THE
EMPLOYEES' RETIREMENT SYSTEM OF ALABAMA (the "Holder") at its office in
Montgomery, Alabama or at such other place as may be designated from time to
time by the Holder the principal sum of Twelve Million Dollars ($12,000,000)
together with interest on the unpaid principal balance hereof from the