On January 3, 2017, Tech Data Corporation and its Spanish subsidiary, Tech Data España, S.L., entered into an agreement with Nestor Cano, (the “Agreement”) regarding the departure of Mr. Cano from his position as President, Europe, effective as of April 1, 2017. Mr. Cano’s assignment to the United Kingdom was also extended by the Company in connection with the Agreement. Pursuant to the terms of the Agreement, for the period between February 1, 2017, the commencement of the contractual notice period, and the closing of the transaction contemplated by the interest purchase agreement between the Company and Avnet Inc. (“Avnet”) to acquire (the “Acquisition”) all the shares of AVT Technology Solutions LLC and another company formed by Avnet, which will hold all assets and liabilities primarily relating to Avnet’s technology solutions business (the “Acquired Business”) announced by the Company on September 19, 2016, Mr. Cano will continue his normal duties and compensation. Following the closing of the Acquisition through April 1, 2017, Mr. Cano will be on garden leave. In the event Mr. Cano commences a position with a non-competitor entity prior to his departure date, Mr. Cano’s departure date will be accelerated to the date Mr. Cano commences his employment and Mr. Cano will not be entitled to the applicable remaining amount of the Notice Payment.