Irrevocability. A Participant’s deferral election under this Article III shall be irrevocable after the last date prescribed under [Section 3.2] for the making of such election; provided, however, that such election may be revoked with the consent of the Board of Directors as part of a determination that an Unforeseeable Emergency exists permitting distribution under [Section 5.3] hereof.

Irrevocability. A Participant’s deferral election under this [Article III] shall be irrevocable after the last date prescribed under [Section 3.2] for the making of such election; provided, however, that such election may be revoked if necessary in order to permit a hardship withdrawal of [section 401(k)] contributions under the Arrow Electronics Savings Plan (or any similar plan of the Company or any Subsidiary) prior to age 59-1/2, or in the event of an Unforeseeable Emergency permitting distribution under [Section 5.5] hereof.