sv3asr
As filed with the Securities and Exchange Commission on December 30, 2005
Registration No. 333-
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-3
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
AVNET, INC.
(Exact Name of Registrant as Specified in Its Charter)
New York
(State or Other Jurisdiction of Incorporation)
11-1890605
(I.R.S. Employer Identification Number)
2211 South 47th Street
Phoenix, Arizona 85034
(480) 643-2000
(Address, Including Zip Code, and Telephone Number, Including Area Code,
of Registrants Principal Executive Offices)
David R. Birk, Esq.
Senior Vice President and General Counsel
Avnet, Inc.
2211 South 47th Street
Phoenix, Arizona 85034
(480) 643-2000
(Name, Address, Including Zip Code, and Telephone Number,
Including Area Code, of Agent for Service)
Copy to:
Barbara Becker
Gibson, Dunn & Crutcher LLP
200 Park Avenue
New York, NY 10166
(212) 351-4000
Approximate date of commencement of proposed sale to the public: From time to time after the
effective date of this Registration Statement.
If the only securities being registered on this form are being offered pursuant to dividend or
interest reinvestment plans, please check the following box. o
If any of the securities being registered on this form are to be offered on a delayed or
continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities
offered only in connection with dividend or interest reinvestment plans, check the following box.
þ
If this Form is filed to register additional securities for an offering pursuant to Rule
462(b) under the Securities Act, please check the following box and list the Securities Act
registration statement number of the earlier effective registration statement for the same
offering. o
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities
Act, check the following box and list the Securities Act registration statement number of the
earlier effective registration statement for the same offering. o
If this Form is a registration statement pursuant to General Instruction I.D. or a
post-effective amendment thereto that shall become effective upon filing with the Commission
pursuant to Rule 462(e) under the Securities Act, check the following box. þ
If this Form is a post-effective amendment to a registration statement filed pursuant to
General Instruction I.D. filed to register additional securities or additional classes of
securities pursuant to Rule 413(b) under the Securities Act, check the following box. o
CALCULATION OF REGISTRATION FEE
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Amount to be Registered |
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Proposed Maximum Offering Price Per Unit |
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Title of Each Class of |
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Proposed Maximum Registration Fee Price |
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Securities to be Registered |
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Amount of Registration Fee |
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Common Stock, par value $1.00 per share |
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(1) |
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Total |
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(1) |
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An indeterminate aggregate offering price or number of shares of Common Stock is being
registered as may from time to time be offered at indeterminate prices. In accordance with
Rules 456(b) and 457(r), the registrant is deferring payment of all of the registration fee. |
PROSPECTUS
Avnet, Inc.
Common Stock
The shares of our common stock covered by this prospectus were initially sold in a private
placement transaction on July 5, 2005. We will not receive any proceeds from the resale by selling
shareholders of their shares of common stock hereunder.
Avnets common stock is listed on the New York Stock Exchange under the symbol AVT.
We will provide the specific terms of these securities in supplements to this prospectus
at the time when such securities are offered. You should read this prospectus and the applicable
supplement carefully before you invest in any of these securities. The information in this
prospectus is not complete and may be changed. This prospectus and any accompanying prospectus
supplement do not contain an offer to sell or the solicitation of an offer to buy any securities
other than the registered securities to which they relate, or an offer to sell or the solicitation
of an offer to buy securities in any jurisdiction where the offer or sale is not permitted.
Our principal executive offices are located at 2211 South 47th Street, Phoenix, Arizona 85034,
telephone (480) 643-2000.
Neither the Securities and Exchange Commission nor any state securities commission has
approved or disapproved of these securities or determined if this prospectus is truthful or
complete. Any representation to the contrary is a criminal offense.
The date of this prospectus is December 30, 2005
We have not authorized any dealer, salesman or other person to give any information or to make
any representation other than those contained or incorporated by reference in this prospectus and
any accompanying prospectus supplement. You must not rely upon any information or representation
not contained or incorporated by reference in this prospectus or a prospectus supplement. The
information contained in this prospectus and any accompanying prospectus supplement is accurate as
of the dates on their covers. When we deliver this prospectus or a supplement or make a sale
pursuant to this prospectus, we are not implying that the information is current as of the date of
the delivery or sale.
Table of Contents
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Whenever we refer to Avnet or to us, or use the terms we or our in this prospectus, we
are referring to Avnet, Inc. a New York corporation, and its consolidated subsidiaries. However,
for purposes of the section entitled Description of Common Stock whenever we refer to Avnet or
to us, or use the terms we or our, we are referring only to Avnet, Inc.
ABOUT THIS PROSPECTUS
This prospectus is part of a registration statement that we filed with the Securities and
Exchange Commission utilizing a shelf registration process. Under this shelf registration
process, we may sell the securities described in this prospectus in one or more offerings. This
prospectus provides you with a general description of the securities we may offer. Each time we
sell securities, we will provide a prospectus supplement that will contain specific information
about the terms of that offering. The prospectus supplement may also add, update or change
information contained in this prospectus. To the extent that any statement that we make in a
prospectus supplement is inconsistent with statements made in this prospectus, you should assume
that the statements made in the prospectus supplement modify or supersede those made in this
prospectus. You should read both this prospectus and any prospectus supplement together with
additional information described under the heading Where You Can Find More Information.
FORWARD-LOOKING STATEMENTS
This prospectus and the documents incorporated or deemed to be incorporated by reference into
this prospectus contain forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, with respect to the financial condition, results of operations and business of Avnet, Inc.
and subsidiaries. You can find many of these statements by looking for words like believes,
expects, anticipates, should, will, may, estimates or similar expressions in this
prospectus or in documents incorporated by reference in this prospectus.
These forward-looking statements are subject to numerous assumptions, risks and uncertainties.
Factors that may cause actual results to differ materially from those contemplated by the
forward-looking statements include, but are not limited to, the following:
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A technology industry down-cycle, particularly in the semiconductor sector, would adversely
affect Avnets expected operating results. |
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Competitive margin pressures among distributors of electronic components and computer products
may increase significantly through increased competition for existing customers or otherwise. |
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General economic or business conditions, domestic and foreign, may be less favorable than
management expected, resulting in lower sales and profitability which can, in turn, impact the
Companys credit ratings, debt covenant compliance and liquidity, as well as the Companys
ability to maintain existing unsecured financing or to obtain new financing. |
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Avnet may be adversely affected by the allocation of products by suppliers. |
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Avnets ability to successfully integrate the Memec acquisition may impact Avnets ability to
achieve the desired synergy savings and expected profitability in the combined business. |
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Legislative or regulatory changes may adversely affect the businesses in which Avnet is engaged. |
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Adverse changes may occur in the securities markets. |
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Changes in interest rates and currency fluctuations may impact Avnets profit margins. |
Although management believes that the plans and expectations reflected in or suggested by
these forward-looking statements are reasonable, management cannot assure you that we will achieve
or realize these plans and expectations. Because forward-looking statements are subject to risks
and uncertainties, actual results may differ materially from those expressed or implied by them.
Management cautions you not to place undue reliance on these statements, which speak only as of the
date of this prospectus.
We do not undertake any obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise.
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WHERE YOU CAN FIND MORE INFORMATION
We file annual, quarterly and current reports, proxy statements and other information with the
Securities and Exchange Commission, or the SEC (Commission File Number 1-04224). These filings
contain important information, which does not appear in this prospectus. You can inspect and copy
these reports, proxy statements and other information at the public reference facilities of the SEC
at the SECs Public Reference Room located at 100 F Street, N.E., Washington, D.C. 20549. Please
call the SEC at 1-800-SEC-0330 for further information on the operation of the Public Reference
Room and to obtain copies of Avnets filings. The SEC also maintains a web site that contains
reports, proxy and information statements and other information regarding registrants that file
electronically with the SEC (http://www.sec.gov). We also post certain of these filings on our
website at www.avnet.com. You can inspect reports and other information we file at the office of
the New York Stock Exchange, Inc., 20 Broad Street, New York, New York 10005.
We have filed registration statements and related exhibits with the SEC under the Securities
Act of 1933, as amended. The registration statements contain additional information about us and
the securities we may issue. You may inspect the registration statements and exhibits without
charge at the office of the SEC at 100 F Street, N.E., Washington, D.C. 20549, and you may obtain
copies from the SEC at prescribed rates.
INCORPORATION BY REFERENCE
The SEC allows us to incorporate by reference information into this prospectus, which means
that we can disclose important information to you by referring to those documents. We hereby
incorporate by reference the documents listed below, which means that we are disclosing important
information to you by referring you to those documents. The information that we file later with the
SEC will automatically update and in some cases supersede a portion or all of the information in
the documents listed below. Specifically, we incorporate by reference the following documents or
information filed with the SEC (other than, in each case, documents or information deemed to have
been furnished and not filed in accordance with SEC rules):
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Avnets Annual Report on Form 10-K for the fiscal year ended July 2, 2005, |
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Avnets Quarterly Report on Form 10-Q for the fiscal quarter ended October 1, 2005, |
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To the extent filed, Avnets Current Reports on Form 8-K filed on July 11, 2005,
August 19, 2005, September 13, 2005, September 27, 2005, September 29, 2005,
October 17, 2005, and November 17, 2005, as amended by our Current Reports on Form
8-K/A filed on August 15, 2005, September 16, 2005 and September 30, 2005,
respectively, |
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Avnets Proxy Statement filed on October 5, 2005, and |
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the description of Avnets common stock which appears in Avnets registration
statement for the registration of the common stock under Section 12(b) of the
Securities Exchange Act of 1934, including any amendment or report filed to update
this description. |
All documents which Avnet has filed or will file, as applicable, with the SEC pursuant to
Section 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act after the date of the registration
statement and after the reports listed above and before the termination of this offering of Avnets
securities will be deemed to be incorporated by reference in this prospectus and to be a part of it
from the filing dates of such documents. Certain statements in and portions of this prospectus
update and replace information in the above listed documents incorporated by reference. Likewise,
statements in or portions of a future document incorporated by reference in this prospectus may
update and replace statements in and portions of this prospectus or the above listed documents.
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You may request a copy of these filings at no cost by writing or telephoning us at the
following address:
Corporate Secretary
Avnet, Inc.
2211 South 47th Street
Phoenix, Arizona 85034
480-643-2000
You should rely only on the information incorporated by reference or provided in this
prospectus and any supplement. We have not authorized anyone else to provide you with other
information.
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THE COMPANY
Avnet is the worlds largest industrial distributor, based on sales, of electronic components,
enterprise computer products and embedded subsystems. Avnet creates a vital link in the technology
supply chain that connects over 300 of the worlds leading electronic component and computer
product manufacturers and software developers as a single source for multiple products for a global
customer base of over 100,000 original equipment manufacturers (OEMs), contract manufacturers,
original design manufacturers, value-added resellers (VARs) and end-users. Avnet distributes
electronic components, computer products and software as received from its suppliers or with
assembly or other value added by Avnet. Additionally, Avnet provides engineering design, materials
management and logistics services, system integration and configuration, and supply chain advisory
services.
USE OF PROCEEDS
We will not receive any of the proceeds from the sale of the common stock by the selling
shareholders.
DESCRIPTION OF COMMON STOCK
Avnet is authorized to issue 300,000,000 shares of common stock, par value $1.00 per share. At
the close of business on December 29, 2005, Avnet
had
outstanding 145,957,636 shares
of common stock, including 6,960 treasury shares. All outstanding shares of common stock are fully paid and nonassessable.
The holders of shares of Avnets common stock have equal rights to dividends from funds
legally available for the payment of dividends when, as and if declared by Avnets board of
directors, and are entitled, upon liquidation, to share ratably in any distribution in which
holders of common stock participate. The common stock is not redeemable, has no preemptive or
conversion rights and is not liable for assessments or further calls. The holders of shares of
Avnets common stock are entitled to one vote for each share at all meetings of shareholders.
The transfer agent and registrar for Avnets common stock is Wachovia Bank, N.A. Avnets
common stock is listed on the New York Stock Exchange.
Under its certificate of incorporation, Avnet is authorized to issue up to 3,000,000 shares of
preferred stock, in series. For each series of preferred stock, Avnets board of directors may fix
the relative rights, preferences and limitations as between the shares of such series, the shares
of other series of Avnet preferred stock, and the shares of Avnet common stock. No shares of Avnet
preferred stock are outstanding.
Board of Directors
Although New York law permits the certificate of incorporation of a New York corporation to
provide for cumulative voting in the election of directors, Avnets certificate of incorporation
does not so provide.
New York law permits the certificate of incorporation or by-laws of a New York corporation to
divide its directors into as many as four classes with staggered terms of office. However, Avnets
certificate and by-laws do not so provide for a classified board of directors. Therefore, all of
its directors are elected annually for one-year terms.
Under New York law, shareholders may remove any or all directors for cause. New York law also
allows directors to be removed without cause if provided in the certificate of incorporation. The
Avnet certificate of incorporation authorizes any or all of the directors to be removed with or
without cause at any time by the vote of the holders of a majority of the stock of Avnet and
provides that the terms of the removed directors shall forthwith terminate.
New York law provides that newly created directorships resulting from an increase in the
number of directors and vacancies arising for any reason may be filled by vote of the board of
directors, whether or not constituting a quorum, except that:
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vacancies resulting from the removal of directors without cause may be
filled only by a vote of the shareholders, unless the certificate of
incorporation or a specific provision of a by-law adopted by the
shareholders provides that such a vacancy may be filled by a vote of
the board of directors; and |
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the certificate of incorporation or by-laws may provide that all newly
created directorships and vacancies may be filled only by a vote of
the shareholders. |
The Avnet by-laws provide that any vacancy created by the removal of a director by the
shareholders with cause may be filled only by a vote of the shareholders, and that any vacancy
created for any other reason may be filled by a vote of the board of directors or the shareholders.
Power to Call Special Shareholders Meetings
Under New York law, a special meeting of shareholders may be called by the board of directors
and by such person or persons as may be authorized to do so in the certificate of incorporation or
by-laws. In addition, if an annual shareholder meeting has not been held for a certain period of
time and a sufficient number of directors were not elected to conduct the business of the
corporation, the board must call a special meeting for the election of directors. If the board
fails to do so, or sufficient directors are not elected within a certain period of time, holders of
10% of the votes of the shares entitled to vote in an election of directors may call a special
meeting for such an election.
Actions by Written Consent of Shareholders
New York law provides that any action which may be taken by shareholders by vote may be taken
without a meeting by written consent, signed by holders of all outstanding shares entitled to vote,
or if authorized by the certificate of incorporation, by holders of the minimum number of shares
necessary to authorize the action at a meeting of shareholders at which all shares entitled to vote
are present and voted. The Avnet certificate of incorporation does not authorize shareholders to
act by less than unanimous written consent.
Dividends and Repurchases of Shares
Under New York law, dividends may be declared or paid and other distributions may be made out
of surplus only, so that the net assets of the corporation remaining after a dividend or
distribution must at least equal the amount of the corporations stated capital. A corporation may
declare and pay dividends or make other distributions except when the corporation is currently
insolvent or would thereby be made insolvent or when the declaration, payment or distribution would
be contrary to any restrictions contained in its certificate of incorporation.
Approval of Certain Business Combinations and Reorganizations
Under New York law, two-thirds of the votes of all outstanding shares entitled to vote thereon
are required to approve mergers, consolidations, share exchanges or sales, leases or other
dispositions of all or substantially all the assets of a corporation if not made in the usual or
regular course of business. New York law was amended in 1998 to permit a New York corporation then
in existence to reduce the required vote to a majority of the outstanding shares. Pursuant to this
amendment, Avnets certificate of incorporation provides that such transactions shall be approved
by a majority of the outstanding shares entitled to vote thereon.
Business Combination Following a Change in Control
New York law prohibits any business combination (defined to include a variety of transactions,
including mergers, consolidations, sales or dispositions of assets, issuances of stock,
liquidations, reclassifications and the receipt of certain benefits from the corporation, including
loans or guarantees) with, involving or proposed by any interested shareholder (defined generally
as any person that beneficially owns, directly or indirectly, 20% or more of the outstanding voting
stock of a New York corporation or any person that is an affiliate or associate of a New York
corporation and at any time within the past five years was a beneficial owner of 20% or more of the
outstanding voting stock) for a period of five years after the date on which the interested
shareholder first became an interested shareholder, unless the transaction is approved by the board
of directors prior to the date on which the interested shareholder became an interested
shareholder. After this five-year period, a business combination between a New York corporation and
the interested shareholder is prohibited unless either certain fair price provisions are complied
with or the business combination is approved by a majority of the outstanding voting stock not
beneficially owned by the interested shareholder. Under New York law, corporations may elect not to
be governed by the statute described above, but Avnets certificate of incorporation does not
contain such an election.
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Dissenters Appraisal Rights
Under New York law, any shareholder of a corporation has the right to obtain payment for the
fair value of the shareholders shares in the event of
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certain amendments or changes to the certificate of incorporation adversely affecting the rights of the shareholder, |
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certain mergers or consolidation of the corporation if the shareholder is entitled to vote thereon, |
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a merger or consolidation where the shareholder is not entitled to vote or if the shareholders shares will be
canceled or exchanged for cash or other consideration other than shares of the surviving or consolidated
corporation or another corporation, |
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certain sales, leases, exchanges or other dispositions of all or substantially all of the assets of the corporation
which require shareholder approval other than a transaction solely for cash, and |
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certain share exchanges. |
However, no appraisal rights will be available in a merger to a shareholder of the surviving
corporation whose rights are not adversely affected or whose shares were, at the record date to
vote on the plan of merger, either listed on a national securities exchange or designated as a
national market system security on an interdealer quotation system by the National Association of
Securities Dealers, Inc.
SELLING SHAREHOLDERS
Information about selling shareholders, where applicable, will be set forth in a prospectus
supplement, in a post-effective amendment, or in filings we make with the SEC under the Exchange
Act which are incorporated by reference.
PLAN OF DISTRIBUTION
We will set forth in the applicable prospectus supplement a description of the plan of
distribution of the common stock that may be offered under this prospectus.
LEGAL MATTERS
The validity of any offered securities will be passed upon for Avnet by David R. Birk, its
Senior Vice President, General Counsel and Secretary. Mr. Birk beneficially owns 261,365 shares of
Avnets common stock, which includes 232,465 shares issuable upon exercise of employee stock
options and 14,556 allocated but not yet delivered incentive shares. Certain legal matters with
respect to offered securities will be passed upon for the underwriters, dealers or agents, if any,
by their counsel.
EXPERTS
The consolidated financial statements of Avnet, Inc. and subsidiaries as of July 2, 2005 and
July 3, 2004, and for each of the years in the three-year period ended July 2, 2005, and
managements assessment of the effectiveness of internal control over financial reporting as of
July 2, 2005, have been incorporated by reference herein in reliance upon the reports of KPMG LLP,
independent registered public accounting firm, incorporated by reference herein, and upon the
authority of said firm as experts in accounting and auditing.
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PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
Item 14. Other Expenses of Issuance and Distribution
The following table sets forth the fees and expenses in connection with the registration of the
securities being offered hereby. All amounts are estimates.
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Securities and Exchange Commission registration fee |
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Legal fees and expenses |
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25,000.00 |
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Accounting fees and expenses |
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15,000.00 |
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Printing and engraving expenses |
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1,500.00 |
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Miscellaneous |
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10,000.00 |
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Total |
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51,500.00 |
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In accordance with Rules 456(b) and 457(r), we are deferring payment of the registration fee
until the time the securities are sold under this Registration Statement pursuant to a prospectus
supplement. |
Item 15. Indemnification of Directors and Officers
Section 6.6 of the registrants By-laws provides as follows:
Indemnification of Directors and Officers
The Corporation shall indemnify to the full extent permitted by law any person
made or threatened to be made a party to any action or proceeding, whether
civil, criminal, administrative or investigative, including an action by or in
the right of any other enterprise which any director or officer of the
Corporation served in any capacity, by reason of the fact that such person or
such persons testator or intestate is or was a director or officer of the
Corporation or serves or served such other enterprise in any capacity at the
request of the Corporation. Expenses incurred by any such person in defending
any such action or proceeding shall be paid or reimbursed by the Corporation in
advance of the final disposition of such action or proceeding promptly upon
receipt by it of an undertaking by or on behalf of such person to repay such
expenses if it shall ultimately be determined that such person is not entitled
to be indemnified by the Corporation. The rights provided to any person by this
by-law shall be enforceable against the Corporation by such person who shall be
presumed to have relied upon it in serving or continuing to serve as a director
or officer as provided above. No amendment of this by-law shall impair the
rights of any person arising at any time with respect to events occurring prior
to such amendment. For purposes of this by-law, the term corporation shall
include any constituent or subsidiary corporation (including any constituent of
a constituent or subsidiary of a subsidiary) absorbed by the Corporation in a
consolidation or merger; the term other enterprise shall include any
corporation, partnership, joint venture, trust, employee benefit plan or other
enterprise; service at the request of the Corporation shall include service
as a director, officer or employee of the Corporation which imposes duties on,
or involves services by, such director, officer or employee with respect to an
employee benefit plan, its participants or beneficiaries; any excise taxes
assessed on a person with respect to an employee benefit plan shall be deemed
to be indemnifiable expenses; and action taken or omitted by a person with
respect to an employee benefit plan which such person reasonably believes to be
in the interest of the participants and beneficiaries of such plan shall be
deemed to be action not opposed to the best interests of the Corporation.
Section 721 of the New York Business Corporation Law (the B.C.L.) provides that no
indemnification may be made to or on behalf of any director or officer of the registrant if a
judgment or other final adjudication adverse to the director or officer establishes that his acts
were committed in bad faith or were the result of active and deliberate dishonesty and were
material to the cause of action so adjudicated, or that he personally gained in fact a financial
profit or other advantage to which he was not legally entitled.
The rights granted under Section 6.6 of the By-laws are in addition to, and are not exclusive
of, any other rights to indemnification and expenses to which any director or officer may otherwise
be entitled. Under the B.C.L., a New York corporation may indemnify any director or officer who is
made or threatened to be made a party to an action by or in the right of such corporation
II-1
against
amounts paid in settlement and reasonable expenses, including attorneys fees, actually and
necessarily incurred by him in connection with the defense or settlement of such action, or in
connection with an appeal therein, if such director or officer acted, in good faith, for a purpose
which he reasonably believed to be in the best interests of the corporation, except that no
indemnification shall be made in respect of (1) a threatened action, or a pending action which is
settled or otherwise disposed of, or (2) any claim, issue or matter as to which such director or
officer shall have been adjudged liable to the corporation, unless and only to the extent that a
court determines that the director or officer is fairly and reasonably entitled to indemnity
(B.C.L. Section 722(c)). A corporation may also indemnify directors and officers who are parties to
other actions or proceedings (including actions or proceedings by or in the right of any other
corporation or other enterprise which the director or officer served at the request of the
corporation) against judgments, fines, amounts paid in settlement and reasonable expenses,
including attorneys fees, actually or necessarily incurred as a result of such actions or
proceedings, or any appeal therein, provided the director or officer acted, in good faith, for a
purpose which he reasonably believed to be in the best interests of the corporation (or in the case
of service to another corporation or other enterprise at the request of such corporation, not
opposed to the best interests of such corporation) and, in criminal cases, that he also had no
reasonable cause to believe that his conduct was unlawful (B.C.L. Section 722(a)). Any
indemnification under Section 722 may be made only if authorized in the specific case by
disinterested directors, or by the board of directors upon the opinion in writing of independent
legal counsel that indemnification is proper, or by the shareholders (B.C.L. Section 723(b)), but
even without such authorization, a court may order indemnification in certain circumstances (B.C.L.
Section 724). Further, any director or officer who is successful, on the merits or otherwise, in
the defense of an action or proceeding is entitled to indemnification as a matter of right (B.C.L.
Section 723(a)).
A New York corporation may generally purchase insurance, consistent with the limitations of
New York insurance law and regulatory supervision, to indemnify the corporation for any obligation
which it incurs as a result of the indemnification of directors and officers under the provisions
of the B.C.L., so long as no final adjudication has established that the directors or officers
acts of active and deliberate dishonesty were material to the cause of action so adjudicated or
that the directors or officers personally gained in fact a financial profit or other advantage
(B.C.L. Section 726).
The registrants directors and officers are currently covered as insureds under directors and
officers liability insurance. Such insurance is subject to renewal in August of 2006 and provides
coverage for directors and officers of the registrant and its subsidiaries against claims made
during the policy period relating to certain civil liabilities, including liabilities under the
Securities Act.
Item 16. Exhibits
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Incorporation by Reference |
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(where a report or registration statement is |
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indicated below, that document has been |
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previously filed with the SEC and the |
Exhibit |
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applicable exhibit is incorporated by |
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Description |
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reference thereto) |
4.2
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Registration Rights
Agreement, dated as of July
5, 2005, between Avnet, Inc.
and certain shareholders of
Memec Group Holdings Limited.
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Exhibit 99.2 to our Form 8-K filed on
July 11, 2005. |
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5.1
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Opinion of David R. Birk,
Esq. with respect to the
legality of the securities
being registered hereunder.
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Filed herewith. |
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23.1
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Consent of KPMG LLP.
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Filed herewith. |
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23.2
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Consent of David R. Birk, Esq.
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Included in Exhibit 5.1 filed herewith. |
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24.1
|
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Power of Attorney
|
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Included on signature pages hereto. |
II-2
Item 17. Undertakings
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(1) |
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The undersigned registrant hereby undertakes: |
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a. |
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To file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration Statement: |
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i. |
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to include any prospectus required by section 10(a)(3) of
the Securities Act; |
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ii. |
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to reflect in the prospectus any facts or events arising
after the effective date of this Registration Statement (or the most recent
post-effective amendment hereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in this
Registration Statement. Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if the total dollar value of
securities offered would not exceed that which was registered) may be
reflected in the form of prospectus filed with the Commission pursuant to
Rule 424(b) if, in the aggregate, the changes in volume and price represent
no more than a 20% change in the maximum aggregate offering price set forth
in the Calculation of Registration Fee table in the effective registration
statement; and |
|
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iii. |
|
to include any material information with respect to the
plan of distribution not previously disclosed in this Registration Statement
or any material change to such information in this Registration Statement; |
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provided, however, that paragraphs (i) and (ii) above do not apply if the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the registrant pursuant to
Section 13 or Section 15(d) of the Securities Exchange Act of 1934 (the
Exchange Act) that are incorporated by reference in this Registration
Statement; |
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b. |
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That, for the purpose of determining any liability under the Securities
Act, each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering
thereof. |
|
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c. |
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To remove from registration by means of a post-effective amendment any of
the securities being registered which remain unsold at the termination of the
offering. |
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(2) |
|
The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the registrants annual report pursuant
to Section 13(a) or 15(d) of the Exchange Act that is incorporated by reference in this
Registration Statement shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof. |
|
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(3) |
|
The undersigned registrant hereby undertakes to deliver or cause to be delivered with
the prospectus, to each person to whom the prospectus is sent or given, the latest annual
report to security holders that is incorporated by reference in the prospectus and
furnished pursuant to and meeting the requirements of Rule 14a-3 or Rule 14c-3 under the
Securities Exchange Act of 1934; and, where interim financial information required to be
presented by Article 3 of Regulation S-X are not set forth in the prospectus, to deliver,
or cause to be delivered to each person to whom the prospectus is sent or given, the latest
quarterly report that is specifically incorporated by reference in the prospectus to
provide such interim financial information. |
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(4) |
|
Insofar as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and persons controlling the registrant pursuant to the
provisions referred to in Item 15 above, or otherwise, the registrant has been advised that
in the opinion of the Securities and Exchange Commission such indemnification is against
public policy as expressed in the Securities Act and is, therefore, unenforceable. In the
event that a claim for indemnification against such liabilities (other than the payment by
the registrant of expenses incurred or paid by a director, officer or controlling person of
registrant in the successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being registered,
the registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against |
II-3
|
|
|
public policy as expressed in the Securities Act and
will be governed by the final adjudication of such issue. The undersigned registrant
hereby undertakes that for the purposes of determining any liability under the Securities
Act: |
|
a. |
|
The information omitted from the form of prospectus filed as part of this
Registration Statement in reliance upon Rule 430A and contained in a form of
prospectus filed by the registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under
the Securities Act shall be deemed to be part of this Registration Statement as of
the time it was declared effective; and |
|
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b. |
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Each post-effective amendment that contains a form of prospectus shall be
deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof. |
|
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c. |
|
Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5)
or (b)(7) as part of a registration statement in reliance on Rule 430B relating to
an offering made pursuant to Rule 415(a)(1)(i), (vii) or (x) for the purpose of
providing the information required by Section 10(a) of the Securities Act of 1933
shall be deemed to be part of and included in the registration statement as of the
earlier of the date such form of prospectus is first used after effectiveness or the
date of the first contract of sale of securities in the offering described in the
prospectus. As provided in Rule 430B, for liability purposes of the issuer and any
person that is at that date an underwriter, such date shall be deemed to be a new
effective date of the registration statement relating to the securities in the
registration statement to which the prospectus relates, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering
thereof. Provided, however, that no statement made in a registration statement or
prospectus that is part of the registration statement or made in a document
incorporated or deemed incorporated by reference into the registration statement or
prospectus that is part of the registration statement will, as to a purchaser with a
time of contract of sale prior to such effective date, supersede or modify any
statement that was made in the registration statement or prospectus that was part of
the registration statement or made in any such document immediately prior to such
effective date. |
|
(6) |
|
The undersigned hereby undertakes that, for the purpose of determining liability of a
Registrant under the Securities Act of 1933 to any purchaser in the initial distribution of
the securities, each undersigned Registrant undertakes that in a primary offering of
securities of an undersigned Registrant pursuant to this registration statement, regardless
of the underwriting method used to sell the securities to the purchaser, if the securities
are offered or sold to such purchaser by means of any of the following communications, the
undersigned Registrant will be a seller to the purchaser and will be considered to offer or
sell such securities to such purchaser: |
|
a. |
|
Any preliminary prospectus or prospectus of an undersigned Registrant
relating to the offering required to be filed pursuant to Rule 424; |
|
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b. |
|
Any free writing prospectus relating to the offering prepared by or on
behalf of an undersigned Registrant or used or referred to by an undersigned
Registrant; |
|
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c. |
|
The portion of any other free writing prospectus relating to the offering
containing material information about an undersigned Registrant or its securities
provided by or on behalf of an undersigned Registrant; and |
|
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d. |
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Any other communication that is an offer in the offering made by an undersigned Registrant to
the purchaser. |
II-4
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3, and
has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Phoenix, State of Arizona, on December 30, 2005.
|
|
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|
AVNET, INC.
|
|
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By: |
/s/ Raymond Sadowski
|
|
|
|
Raymond Sadowski |
|
|
|
Senior Vice President and
Chief Financial Officer |
|
|
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS that the individuals whose signatures appear below constitute
and appoint Raymond Sadowski, his or her true and lawful attorney-in-fact and agent with full and
several power of substitution, for him and her or his or her name, place and stead, in any and all
capacities, to sign any and all amendments (including post-effective amendments) to this
Registration Statements, and to file the same, with all exhibits thereto, and all documents in
connection therewith, with the Securities and Exchange Commission, granting unto said
attorney-in-fact and agent, full power and authority to do and perform each and every act and thing
requisite and necessary to be done in and about the premises, as fully to all intents and purposes
as he or she might or could do in person, hereby ratifying and confirming all that said
attorney-in-fact and agents or any of them, or their subsidiaries, may lawfully do or cause to be
done.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed on December 30, 2005, by the following persons in the capacities indicated:
|
|
|
|
|
Signature |
|
Title |
|
Date |
/s/ Roy Vallee
Roy Vallee
|
|
Chairman of the Board, Chief Executive
Officer and Director
|
|
December 30, 2005 |
|
|
|
|
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/s/ Eleanor Baum
Eleanor Baum
|
|
Director
|
|
December 30, 2005 |
|
|
|
|
|
/s/ J. Veronica Biggins
J. Veronica Biggins
|
|
Director
|
|
December 30, 2005 |
|
|
|
|
|
/s/ Lawrence W. Clarkson
Lawrence W. Clarkson
|
|
Director
|
|
December 30, 2005 |
|
|
|
|
|
/s/ Ehud Houminer
Ehud Houminer
|
|
Director
|
|
December 30, 2005 |
|
|
|
|
|
/s/ James A. Lawrence
James A. Lawrence
|
|
Director
|
|
December 30, 2005 |
II-5
|
|
|
|
|
Signature |
|
Title |
|
Date |
/s/ Frank Noonan
Frank Noonan
|
|
Director
|
|
December 30, 2005 |
|
|
|
|
|
/s/ Ray M. Robinson
Ray M. Robinson
|
|
Director
|
|
December 30, 2005 |
|
|
|
|
|
/s/ Peter Smitham
Peter Smitham
|
|
Director
|
|
December 30, 2005 |
|
|
|
|
|
/s/ Gary L. Tooker
Gary L. Tooker
|
|
Director
|
|
December 30, 2005 |
II-6
EXHIBIT INDEX
|
|
|
Exhibit Number |
|
Description |
5.1
|
|
Opinion of David R. Birk, Esq. with respect to the legality
of the securities being registered hereunder. |
|
|
|
23.1
|
|
Consent of KPMG LLP. |
II-7